The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AMERICAN HOMES 4 RENT CL A 02665T306 32,035 824,592 SH   SOLE   824,592 0 0
BROOKDALE SR LIVING INC COM 112463104 27,092 3,429,345 SH   SOLE   3,429,345 0 0
DECKERS OUTDOOR CORP COM 243537107 43,877 114,243 SH   SOLE   114,243 0 0
GCP APPLIED TECHNOLOGIES INC COM 36164Y101 5,887 253,079 SH   SOLE   253,079 0 0
HILTON GRAND VACATIONS INC COM 43283X105 20,017 483,620 SH   SOLE   483,620 0 0
L BRANDS INC COM 501797104 31,984 443,852 SH   SOLE   443,852 0 0
NEWS CORP NEW CL A 65249B109 25,766 999,859 SH   SOLE   999,859 0 0
NORTONLIFELOCK INC COM 668771108 32,212 1,183,404 SH   SOLE   1,183,404 0 0
VIAD CORP COM 92552R406 22,272 446,784 SH   SOLE   446,784 0 0
WEST FRASER TIMBER CO LTD COM 952845105 4,836 67,462 SH   SOLE   67,462 0 0
ZIONS BANCORPORATION N A COM 989701107 22,033 416,817 SH   SOLE   416,817 0 0