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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

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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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ALPHABET INC CAP STK CL A 02079K305   38,727,676 438,940 SH   SOLE   438,940 0 0
AMERANT BANCORP INC CL A 023576101   6,955,157 259,134 SH   SOLE   259,134 0 0
CHATHAM LODGING TR COM 16208T102   797,685 65,011 SH   SOLE   65,011 0 0
CHEFS WHSE INC COM 163086101   9,235,366 277,505 SH   SOLE   277,505 0 0
CRESUD S A C I F Y A SPONSORED ADR 226406106   223,018 33,336 SH   SOLE   33,336 0 0
CRESUD S A C I F Y A *W EXP 03/09/202 P3311R259   16,276 50,710 SH   SOLE   50,710 0 0
FIRST AMERN FINL CORP COM 31847R102   59,187,642 1,130,830 SH   SOLE   1,130,830 0 0
IRSA INVERSIONES Y REP S A GLOBL DEP RCPT 450047204   858,058 179,510 SH   SOLE   179,510 0 0
IRSA INVERSIONES Y REP S A *W EXP 05/12/202 P5880C134   46,824 199,336 SH   SOLE   199,336 0 0
OUTFRONT MEDIA INC COM 69007J106   72,726,114 4,386,376 SH   SOLE   4,386,376 0 0
PARK HOTELS & RESORTS INC COM 700517105   30,365,617 2,575,540 SH   SOLE   2,575,540 0 0
PEBBLEBROOK HOTEL TR COM 70509V100   979,077 73,120 SH   SOLE   73,120 0 0
PERFORMANCE FOOD GROUP CO COM 71377A103   71,292,497 1,220,971 SH   SOLE   1,220,971 0 0
SABRE CORP COM 78573M104   46,273,417 7,487,608 SH   SOLE   7,487,608 0 0
SABRE CORP 6.50% CONV PFD A 78573M203   3,366,800 40,000 SH   SOLE   40,000 0 0
SABRE GLBL INC NOTE 4.000% 4/1 78573NAE2   1,075,690 1,000,000 PRN   SOLE   1,000,000 0 0