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 |
| AKAMAI TECHNOLOGIES INC | COM | 00971T101 | 3,518 | 32,848 | SH | DFND | 32,848 | 0 | 0 | ||
| ALEXANDRIA REAL ESTATE EQ IN | COM | 015271109 | 2,264 | 13,954 | SH | DFND | 13,954 | 0 | 0 | ||
| AMERICAN HOMES 4 RENT | CL A | 02665T306 | 3,657 | 135,970 | SH | DFND | 135,970 | 0 | 0 | ||
| AMERICAN TOWER CORP NEW | COM | 03027X100 | 1,532 | 5,925 | SH | DFND | 5,925 | 0 | 0 | ||
| BOSTON PPTYS LTD Partnership | COM | 101121101 | 1,851 | 20,480 | SH | DFND | 20,480 | 0 | 0 | ||
| BROADCOM INC | COM | 11135F101 | 3,641 | 11,538 | SH | DFND | 11,538 | 0 | 0 | ||
| CENTURY CMNTYS INC | COM | 156504300 | 460 | 15,000 | SH | DFND | 15,000 | 0 | 0 | ||
| D R HORTON INC | COM | 23331A109 | 5,015 | 90,440 | SH | DFND | 90,440 | 0 | 0 | ||
| DUKE REALTY CORP | COM NEW | 264411505 | 7,038 | 198,865 | SH | DFND | 198,865 | 0 | 0 | ||
| ENPHASE ENERGY INC | COM | 29355A107 | 4,177 | 87,800 | SH | DFND | 87,800 | 0 | 0 | ||
| EQUINIX INC | COM | 29444U700 | 2,992 | 4,261 | SH | DFND | 4,261 | 0 | 0 | ||
| ESSENT GROUP LTD | COM | G3198U102 | 4,800 | 132,332 | SH | DFND | 132,332 | 0 | 0 | ||
| HIGHWOODS PPTYS INC | COM | 431284108 | 1,250 | 33,500 | SH | DFND | 33,500 | 0 | 0 | ||
| HUDSON PAC PPTYS INC | COM | 444097109 | 2,129 | 84,633 | SH | DFND | 84,633 | 0 | 0 | ||
| INVITATION HOMES INC | COM | 46187W107 | 3,961 | 143,886 | SH | DFND | 143,886 | 0 | 0 | ||
| KB HOME | COM | 48666K109 | 844 | 27,500 | SH | DFND | 27,500 | 0 | 0 | ||
| LENNAR CORP | CL A | 526057104 | 1,386 | 22,500 | SH | DFND | 22,500 | 0 | 0 | ||
| MARTIN MARIETTA MATLS INC | COM | 573284106 | 1,976 | 9,564 | SH | DFND | 9,564 | 0 | 0 | ||
| MARVELL TECHNOLOGY GROUP LTD | ORD | G5876H105 | 1,786 | 50,935 | SH | DFND | 50,935 | 0 | 0 | ||
| MGIC INVT CORP WIS | COM | 552848103 | 6,748 | 597,177 | SH | DFND | 597,177 | 0 | 0 | ||
| MICROSOFT CORP | COM | 594918104 | 10,400 | 51,102 | SH | DFND | 51,102 | 0 | 0 | ||
| NMI HLDGS INC | CL A | 629209305 | 1,573 | 97,805 | SH | DFND | 97,805 | 0 | 0 | ||
| PENNYMAC MTG INVT TR | COM | 70931T103 | 3,506 | 200,000 | SH | DFND | 200,000 | 0 | 0 | ||
| PROLOGIS INC | COM | 74340W103 | 16,671 | 178,621 | SH | DFND | 178,621 | 0 | 0 | ||
| PULTE GROUP INC | COM | 745867101 | 1,361 | 40,000 | SH | DFND | 40,000 | 0 | 0 | ||
| RADIAN GROUP INC | COM | 750236101 | 2,658 | 171,365 | SH | DFND | 171,365 | 0 | 0 | ||
| SBA COMMUNICATIONS CORP NEW | CL A | 78410G104 | 1,560 | 5,235 | SH | DFND | 5,235 | 0 | 0 | ||
| SHERWIN WILLIAMS CO | COM | 824348106 | 6,810 | 11,786 | SH | DFND | 11,786 | 0 | 0 | ||
| STAG INDL INC | COM | 85254J102 | 1,803 | 61,500 | SH | DFND | 61,500 | 0 | 0 | ||
| TARGET CORP | COM | 87612E106 | 1,943 | 16,200 | SH | DFND | 16,200 | 0 | 0 | ||
| TOLL BROTHERS INC | COM | 889478103 | 1,385 | 42,500 | SH | DFND | 42,500 | 0 | 0 | ||
| VULCAN MATLS CO | COM | 929160109 | 4,374 | 37,754 | SH | DFND | 37,754 | 0 | 0 | ||
| BOEING CO | COM | 097023105 | 10,796 | 58,900 | SH | Put | DFND | 58,900 | 0 | 0 | |
| FACEBOOK INC | CL A | 30303M102 | 13,579 | 59,800 | SH | Put | DFND | 59,800 | 0 | 0 | |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 | 107,385 | 750,000 | SH | Call | DFND | 750,000 | 0 | 0 | |