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
Aaron's Inc COM 002535300 14,711 531,086 SH   SOLE   531,086 0 0
Aviv REIT, Inc COM 05381L101 9,473 415,474 SH   SOLE   415,474 0 0
Blucora, Inc. COM 095229100 13,441 584,896 SH   SOLE   584,896 0 0
CommonWealth REIT COM 203233101 1,860 84,907 SH   SOLE   84,907 0 0
Consolidated Water COM G23773107 1,080 72,144 SH   SOLE   72,144 0 0
Geo Group Inc COM 36159R103 6,957 209,223 SH   SOLE   209,223 0 0
Getty Realty COM 374297109 10,701 550,760 SH   SOLE   550,760 0 0
H&R Block Inc. COM 093671105 19,882 745,756 SH   SOLE   745,756 0 0
Holloway Lodging Corp. COM 43570P104 4,471 1,241,800 SH   SOLE   1,241,800 0 0
Imperial Holdings COM 452834104 10,483 1,656,061 SH   SOLE   1,656,061 0 0
Physicians Realty Trust COM 71943U104 1,848 152,460 SH   SOLE   152,460 0 0
Rent-A-Center Inc. COM 76009N100 3,704 97,189 SH   SOLE   97,189 0 0
Sabra Health Care COM 78573L106 10,316 448,345 SH   SOLE   448,345 0 0
State Bank Fin Corp COM 856190103 6,623 417,352 SH   SOLE   417,352 0 0
Valassis Communications COM 918866104 6,965 241,158 SH   SOLE   241,158 0 0
XO Group Inc. COM 983772104 13,068 1,011,430 SH   SOLE   1,011,430 0 0