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
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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
Alcoa Inc. Common Stocks 013872106 28,385 580,000 SH   SOLE   580,000 0 0
AMERCO Common Stocks 023586100 8,075 12,500 SH   SOLE   12,500 0 0
Antero Resources Corporation Common Stocks 03674X106 1,881 100,000 SH   SOLE   100,000 0 0
Asbury Automotive Group, Inc. Common Stocks 043436104 19,674 100,000 SH   SOLE   100,000 0 0
AutoNation, Inc. Common Stocks 05329W102 7,914 65,000 SH   SOLE   65,000 0 0
AvalonBay Communities, Inc. Common Stocks 053484101 22,164 100,000 SH   SOLE   100,000 0 0
Avis Budget Group, Inc. Common Stocks 053774105 32,623 280,000 SH   SOLE   280,000 0 0
Brixmor Property Group, Inc. Common Stocks 11120U105 17,688 800,000 SH   SOLE   800,000 0 0
Callon Petroleum Company Common Stocks 13123X508 7,853 160,000 SH   SOLE   160,000 0 0
Camden Property Trust Common Stocks 133131102 8,848 60,000 SH   SOLE   60,000 0 0
CBRE Group, Inc. Common Stocks 12504L109 23,853 245,000 SH   SOLE   245,000 0 0
Centerspace Common Stocks 15202L107 21,452 227,000 SH   SOLE   227,000 0 0
ConocoPhillips Common Stocks 20825C104 27,108 400,000 SH   SOLE   400,000 0 0
Continental Resources, Inc. Common Stocks 212015101 1,385 30,000 SH   SOLE   30,000 0 0
CubeSmart Common Stocks 229663109 24,467 505,000 SH   SOLE   505,000 0 0
CVS Caremark Corporation Common Stocks 126650100 27,580 325,000 SH   SOLE   325,000 0 0
Diamondback Energy, Inc. Common Stocks 25278X109 34,081 360,000 SH   SOLE   360,000 0 0
DiamondRock Hospitality Company Common Stocks 252784301 1,890 200,000 SH   SOLE   200,000 0 0
EOG Resources, Inc. Common Stocks 26875P101 30,503 380,000 SH   SOLE   380,000 0 0
Equity Residential Common Stocks 29476L107 22,658 280,000 SH   SOLE   280,000 0 0
Essex Property Trust, Inc. Common Stocks 297178105 6,395 20,000 SH   SOLE   20,000 0 0
Extra Space Storage Inc. Common Stocks 30225T102 23,519 140,000 SH   SOLE   140,000 0 0
Federal Realty Investment Trust Common Stocks 313747206 18,878 160,000 SH   SOLE   160,000 0 0
Group 1 Automotive, Inc. Common Stocks 398905109 7,515 40,000 SH   SOLE   40,000 0 0
HCA Holdings, Inc. Common Stocks 40412C101 6,068 25,000 SH   SOLE   25,000 0 0
Host Hotels & Resorts, Inc. Common Stocks 44107P104 5,716 350,000 SH   SOLE   350,000 0 0
Jones Lang LaSalle Incorporated Common Stocks 48020Q107 70,706 285,000 SH   SOLE   285,000 0 0
JPMorgan Chase & Co. Common Stocks 46625H100 13,095 80,000 SH   SOLE   80,000 0 0
Life Storage, Inc. Common Stocks 53223X107 25,243 220,000 SH   SOLE   220,000 0 0
Mid-America Apartment Communities, Inc. Common Stocks 59522J103 13,073 70,000 SH   SOLE   70,000 0 0
Moderna, Inc Common Stocks 60770K107 25,786 67,000 SH   SOLE   67,000 0 0
National Storage Affiliates Trust Common Stocks 637870106 23,756 450,000 SH   SOLE   450,000 0 0
NexPoint Residential Trust, Inc. Common Stocks 65341D102 22,029 356,000 SH   SOLE   356,000 0 0
OneMain Holdings, Inc. Common Stocks 68268W103 30,708 555,000 SH   SOLE   555,000 0 0
Ovintiv Inc. Common Stocks 69047Q102 8,878 270,000 SH   SOLE   270,000 0 0
Park Hotels & Resorts Inc. Common Stocks 700517105 21,054 1,100,000 SH   SOLE   1,100,000 0 0
Pebblebrook Hotel Trust Common Stocks 70509V100 4,482 200,000 SH   SOLE   200,000 0 0
Penske Automotive Group, Inc. Common Stocks 70959W103 5,030 50,000 SH   SOLE   50,000 0 0
Pioneer Natural Resources Company Common Stocks 723787107 16,651 100,000 SH   SOLE   100,000 0 0
Prudential Financial, Inc. Common Stocks 744320102 35,242 335,000 SH   SOLE   335,000 0 0
Public Storage Common Stocks 74460D109 22,283 75,000 SH   SOLE   75,000 0 0
Rent-A-Center, Inc. Common Stocks 76009N100 14,615 260,000 SH   SOLE   260,000 0 0
Ryman Hospitality Properties, Inc. Common Stocks 78377T107 19,251 230,000 SH   SOLE   230,000 0 0
Select Medical Holdings Corporation Common Stocks 81619Q105 36,713 1,015,000 SH   SOLE   1,015,000 0 0
Signet Jewelers Limited Common Stocks G81276100 42,090 533,052 SH   SOLE   533,052 0 0
Simon Property Group, Inc. Common Stocks 828806109 25,994 200,000 SH   SOLE   200,000 0 0
Sunstone Hotel Investors, Inc. Common Stocks 867892101 22,925 1,920,000 SH   SOLE   1,920,000 0 0
Textron Inc. Common Stocks 883203101 21,292 305,000 SH   SOLE   305,000 0 0
The Buckle, Inc. Common Stocks 118440106 27,317 690,000 SH   SOLE   690,000 0 0
The Children s Place Retail Stores, Inc. Common Stocks 168905107 16,934 225,000 SH   SOLE   225,000 0 0
Thor Industries, Inc. Common Stocks 885160101 4,297 35,000 SH   SOLE   35,000 0 0
Turquoise Hill Resources Ltd. Common Stocks 900435207 21,550 1,460,000 SH   SOLE   1,460,000 0 0
UDR, Inc. Common Stocks 902653104 21,987 415,000 SH   SOLE   415,000 0 0
West Fraser Timber Co. LTD. Common Stocks 952845105 3,369 40,000 SH   SOLE   40,000 0 0
Whirlpool Corporation Common Stocks 963320106 35,268 173,000 SH   SOLE   173,000 0 0