The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete. | |||||||||||||||||
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F INFORMATION TABLE |
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| 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 | 74,772 | 3,766,847 | SH | SOLE | 3,766,847 | 0 | 0 | ||
| BELMOND LTD | CL A | G1154H107 | 44,765 | 1,788,467 | SH | SOLE | 1,788,467 | 0 | 0 | ||
| CAESARS ENTMT CORP | COM | 127686103 | 99,328 | 14,628,557 | SH | SOLE | 14,628,557 | 0 | 0 | ||
| CENTURY CMNTYS INC | COM | 156504300 | 45,029 | 2,608,876 | SH | SOLE | 2,608,876 | 0 | 0 | ||
| D R HORTON INC | COM | 23331A109 | 448,177 | 12,930,658 | SH | SOLE | 12,930,658 | 0 | 0 | ||
| D R HORTON INC | COM | 23331A109 | 26,920 | 776,700 | SH | Call | SOLE | 776,700 | 0 | 0 | |
| DIAMONDROCK HOSPITALITY CO | COM | 252784301 | 21,672 | 2,386,800 | SH | SOLE | 2,386,800 | 0 | 0 | ||
| FIVE POINT HOLDINGS LLC | COM CL A | 33833Q106 | 39,293 | 5,661,780 | SH | SOLE | 5,661,780 | 0 | 0 | ||
| FORESTAR GROUP INC | COM | 346232101 | 53,653 | 3,873,873 | SH | SOLE | 3,873,873 | 0 | 0 | ||
| HILTON GRAND VACATIONS INC | COM | 43283X105 | 141,240 | 5,352,035 | SH | SOLE | 5,352,035 | 0 | 0 | ||
| HILTON WORLDWIDE HLDGS INC | COM | 43300A203 | 350,958 | 4,888,000 | SH | SOLE | 4,888,000 | 0 | 0 | ||
| HOME DEPOT INC | COM | 437076102 | 859 | 5,000 | SH | SOLE | 5,000 | 0 | 0 | ||
| HUDSON PAC PPTYS INC | COM | 444097109 | 174,917 | 6,019,174 | SH | SOLE | 6,019,174 | 0 | 0 | ||
| HYATT HOTELS CORP | COM CL A | 448579102 | 53,269 | 788,000 | SH | SOLE | 788,000 | 0 | 0 | ||
| JBG SMITH PPTYS | COM | 46590V100 | 73,295 | 2,105,584 | SH | SOLE | 2,105,584 | 0 | 0 | ||
| KILROY RLTY CORP | COM | 49427F108 | 11,318 | 180,000 | SH | SOLE | 180,000 | 0 | 0 | ||
| LENNAR CORP | CL A | 526057104 | 75,233 | 1,921,671 | SH | SOLE | 1,921,671 | 0 | 0 | ||
| LIBERTY PPTY TR | SH BEN INT | 531172104 | 6,701 | 160,000 | SH | SOLE | 160,000 | 0 | 0 | ||
| LYON WILLIAM HOMES | CL A NEW | 552074700 | 24,055 | 2,250,252 | SH | SOLE | 2,250,252 | 0 | 0 | ||
| MARRIOTT INTL INC NEW | CL A | 571903202 | 68,335 | 629,469 | SH | SOLE | 629,469 | 0 | 0 | ||
| MARRIOTT VACATIONS WRLDWDE C | COM | 57164Y107 | 15,119 | 214,419 | SH | SOLE | 214,419 | 0 | 0 | ||
| MGM RESORTS INTERNATIONAL | COM | 552953101 | 24,785 | 1,021,637 | SH | SOLE | 1,021,637 | 0 | 0 | ||
| MOHAWK INDS INC | COM | 608190104 | 67,033 | 573,130 | SH | SOLE | 573,130 | 0 | 0 | ||
| PENNYMAC FINL SVCS INC | COM | 70932M107 | 5,315 | 250,000 | SH | SOLE | 250,000 | 0 | 0 | ||
| REXFORD INDL RLTY INC | COM | 76169C100 | 52,350 | 1,776,371 | SH | SOLE | 1,776,371 | 0 | 0 | ||
| SHERWIN WILLIAMS CO | COM | 824348106 | 88,725 | 225,500 | SH | SOLE | 225,500 | 0 | 0 | ||
| SL GREEN RLTY CORP | COM | 78440X101 | 31,237 | 395,000 | SH | SOLE | 395,000 | 0 | 0 | ||
| SPDR DOW JONES INDL AVRG ETF | UT SER 1 | 78467X109 | 22,446 | 96,250 | SH | SOLE | 96,250 | 0 | 0 | ||
| SUMMIT MATLS INC | CL A | 86614U100 | 22,213 | 1,791,352 | SH | SOLE | 1,791,352 | 0 | 0 | ||
| TAYLOR MORRISON HOME CORP | CL A | 87724P106 | 59,065 | 3,714,751 | SH | SOLE | 3,714,751 | 0 | 0 | ||
| VORNADO RLTY TR | SH BEN INT | 929042109 | 148,181 | 2,388,866 | SH | SOLE | 2,388,866 | 0 | 0 | ||
| WYNDHAM HOTELS & RESORTS INC | COM | 98311A105 | 176,730 | 3,895,295 | SH | SOLE | 3,895,295 | 0 | 0 | ||