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
AMERICAN OUTDOOR BRANDS CORP COM 02874P103 1,302 144,500 SH   SOLE   144,500 0 0
BABCOCK & WILCOX ENTERPRIS I COM 05614L100 69 203,220 SH   SOLE   203,220 0 0
BGC PARTNERS INC CL A 05541T101 925 176,815 SH   SOLE   176,815 0 0
CAPITOL INVT CORP IV CL A ORD G18920101 387 37,757 SH   SOLE   37,757 0 0
CENTURY CMNTYS INC COM 156504300 3,508 131,974 SH   SOLE   131,974 0 0
CONTINENTAL BLDG PRODS INC COM 211171103 2,604 98,000 SH   SOLE   98,000 0 0
DAVE & BUSTERS ENTMT INC COM 238337109 1,214 30,000 SH   SOLE   30,000 0 0
FGL HLDGS ORD ORD SHS G3402M102 3,634 432,631 SH   SOLE   432,631 0 0
GMS INC COM 36251C103 442 20,096 SH   SOLE   20,096 0 0
HOUGHTON MIFFLIN HARCOURT CO COM 44157R109 1,603 278,298 SH   SOLE   278,298 0 0
ISHARES TR 20 YR TR BD ETF 464287432 7,968 60,000 SH Put SOLE   0 0 60,000
LEGACY HOUSING CORP COM 52472M101 337 27,048 SH   SOLE   27,048 0 0
LYON WILLIAM HOMES CL A NEW 552074700 2,774 152,146 SH   SOLE   152,146 0 0
MAYVILLE ENGINEERING CO INC COM 578605107 1,147 83,113 SH   SOLE   83,113 0 0
NEW HOME CO INC COM 645370107 829 215,200 SH   SOLE   215,200 0 0
NEWMARK GROUP INC CL A 65158N102 2,775 308,980 SH   SOLE   308,980 0 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 6,446 22,000 SH Call SOLE   0 0 22,000
SPDR S&P 500 ETF TR TR UNIT 78462F103 12,892 44,000 SH Put SOLE   0 0 44,000
ZILLOW GROUP INC CL C CAP STK 98954M200 1,076 23,200 SH   SOLE   23,200 0 0