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
OPUS BK IRVINE CALIF COMMON 684000102 119,913 3,390,250 SH   SOLE   3,390,250 0 0
TRI POINTE GROUP, INC. COMMON 87265H109 157,974 11,985,905 SH   SOLE   11,985,905 0 0
CAESARS ACQUISITION CO. CLASS A 12768T103 31,719 2,553,846 SH   SOLE   2,553,846 0 0
CAESARS ENTMT CORP COMMON 127686103 18,007 2,417,025 SH   SOLE   2,417,025 0 0
BELMOND LTD. CLASS A G1154H107 56,877 4,475,000 SH   SOLE   4,475,000 0 0