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
ARES COML REAL ESTATE CORP COM 04013V108 2,090 159,510 SH   SOLE   159,510 0 0
AGNICO EAGLE MINES LTD COM 008474108 1,346 51,022 SH   SOLE   51,022 0 0
APOLLO COML REAL EST FIN INC COM 03762U105 971 59,764 SH   SOLE   59,764 0 0
CROWN CASTLE INTL CORP COM 228227104 1,003 13,662 SH   SOLE   13,662 0 0
CHIMERA INVT CORP COM 16934Q109 999 322,268 SH   SOLE   322,268 0 0
ENCANA CORP COM 292505104 1,443 79,964 SH   SOLE   79,964 0 0
ENSCO PLC SHS CLASS A G3157S106 1,391 24,328 SH   SOLE   24,328 0 0
STARWOOD HOTELS&RESORTS WRLD COM 85590A401 2,117 26,640 SH   SOLE   26,640 0 0
JPMORGAN CHASE & CO COM 46625H100 2,205 37,701 SH   SOLE   37,701 0 0
LOCKHEED MARTIN CORP COM 539830109 2,125 14,291 SH   SOLE   14,291 0 0
RYMAN HOSPITALITY PPTYS INC COM 78377T107 2,061 49,326 SH   SOLE   49,326 0 0
TIME WARNER CABLE INC COM 88732J207 584 4,312 SH   SOLE   4,312 0 0