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
AARONS INC COMMON 00258R109 24,643 435,000 SH   SOLE   435,000 0 0
AMERICAN HOMES 4 RENT COMMON 02665T306 9,968 350,000 SH   SOLE   350,000 0 0
ASBURY AUTOMOTIVE GROUP I COMMON 043436104 21,000 215,500 SH   SOLE   215,500 0 0
AUTONATION INC COMMON 05329W102 16,938 320,000 SH   SOLE   320,000 0 0
BEST BUY INC COMMON 086516101 21,145 190,000 SH   SOLE   190,000 0 0
CENTURY CMNTYS INC COMMON 156504300 14,392 340,000 SH   SOLE   340,000 0 0
COMPANHIA SIDERURGICA NAC COMMON 20440W105 27,636 9,400,000 SH   SOLE   9,400,000 0 0
D R HORTON INC COMMON 23331A109 66,554 880,000 SH   SOLE   880,000 0 0
DECKERS OUTDOOR CORP COMMON 243537107 15,401 70,000 SH   SOLE   70,000 0 0
DICKS SPORTING GOODS INC COMMON 253393102 27,493 475,000 SH   SOLE   475,000 0 0
EASTGROUP PPTY INC COMMON 277276101 20,693 160,000 SH   SOLE   160,000 0 0
FEDEX CORP COMMON 31428X106 28,422 113,000 SH   SOLE   113,000 0 0
FIRST INDUSTRIAL REALTY TRUST COMMON 32054K103 19,900 500,000 SH   SOLE   500,000 0 0
FREEPORT-MCMORAN COPPER COMMON 35671D857 12,512 800,000 SH   SOLE   800,000 0 0
GOLD FIELDS LTD NEW COMMON 38059T106 9,832 800,000 SH   SOLE   800,000 0 0
GROUP 1 AUTOMOTIVE INC COMMON 398905109 18,562 210,000 SH   SOLE   210,000 0 0
HIBBETT SPORTS INC COMMON 428567101 12,943 330,000 SH   SOLE   330,000 0 0
INNOVATIVE INDL PPTYS INC COMMON 45781V101 8,688 70,000 SH   SOLE   70,000 0 0
INVITATION HOMES INC COMMON 46187W107 3,919 140,000 SH   SOLE   140,000 0 0
LGI HOMES INC COMMON 50187T106 38,917 335,000 SH   SOLE   335,000 0 0
LENNAR CORP CL A 526057104 65,752 805,000 SH   SOLE   805,000 0 0
M D C HLDGS INC COMMON 552676108 29,202 620,000 SH   SOLE   620,000 0 0
M/I HOMES COMMON 55305B101 15,196 330,000 SH   SOLE   330,000 0 0
MARTIN MARIETTA MATLS INC COMMON 573284106 2,354 10,000 SH   SOLE   10,000 0 0
MERITAGE HOME CORP. COMMON 59001A102 68,442 620,000 SH   SOLE   620,000 0 0
MICHAELS COS INC COMMON 59408Q106 4,828 500,000 SH   SOLE   500,000 0 0
NUTRIEN LTD COMMON 67077M108 21,576 550,000 SH   SOLE   550,000 0 0
PRA GROUP INC COMMON 69354N106 1,598 40,000 SH   SOLE   40,000 0 0
PENNYMAC FINL SVCS INC COMMON 70932M107 17,727 305,000 SH   SOLE   305,000 0 0
PENSKE AUTOMOTIVE GRP INC COMMON 70959W103 7,149 150,000 SH   SOLE   150,000 0 0
PROLOGIS COMMON 74340W103 22,136 220,000 SH   SOLE   220,000 0 0
PULTE HOMES INC COMMON 745867101 24,765 535,000 SH   SOLE   535,000 0 0
RENT A CTR INC NEW COMMON 76009N100 8,369 280,000 SH   SOLE   280,000 0 0
STAG INDL INC COMMON 85254J102 10,367 340,000 SH   SOLE   340,000 0 0
TRI POINTE GROUP INC COMMON 87265H109 23,763 1,310,000 SH   SOLE   1,310,000 0 0
TAPESTRY INC COMMON 876030107 20,553 1,315,000 SH   SOLE   1,315,000 0 0
TAYLOR MORRISON HOME CORP COMMON 87724P106 29,754 1,210,000 SH   SOLE   1,210,000 0 0
TECK RESOURCES LTD. COMMON 878742204 15,312 1,100,000 SH   SOLE   1,100,000 0 0
TEMPUR SEALY INTL INC COMMON 88023U101 2,230 25,000 SH   SOLE   25,000 0 0
THOR INDS INC COMMON 885160101 17,147 180,000 SH   SOLE   180,000 0 0
TOLL BROTHERS INC COMMON 889478103 45,254 930,000 SH   SOLE   930,000 0 0
TOPBUILD CORP COMMON 89055F103 17,922 105,000 SH   SOLE   105,000 0 0
VALE S A COMMON 91912E109 23,276 2,200,000 SH   SOLE   2,200,000 0 0
VULCAN MATLS CO COMMON 929160109 8,132 60,000 SH   SOLE   60,000 0 0
HORIZON THERAPEUTICS PLC COMMON G46188101 19,420 250,000 SH   SOLE   250,000 0 0
SIGNET JEWELERS LIMITED COMMON G81276100 15,147 810,000 SH   SOLE   810,000 0 0