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
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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
AEVA TECHNOLOGIES INC COM NEW 00835Q202 23,066,095 803,137 SH DFND 1 0 803,137 0
AGREE RLTY CORP COM 008492100 23,919,449 315,810 SH DFND 1 0 315,810 0
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102 8,446 88 SH DFND 1 0 88 0
ALPHA TEKNOVA INC COM 02080L102 369,404 65,036 SH DFND 1 0 65,036 0
ALPHABET INC CAP STK CL A 02079K305 120,076 336 SH DFND 1 0 336 0
ALPHABET INC CAP STK CL C 02079K107 98,932 280 SH DFND 1 0 280 0
AMERICAN HEALTHCARE REIT INC COM SHS 398182303 14,670,838 281,320 SH DFND 1 0 281,320 0
AMERICAN HOMES 4 RENT CL A 02665T306 30,974,826 924,070 SH DFND 1 0 924,070 0
AMERICOLD REALTY TRUST INC COM 03064D108 3,579,758 227,720 SH DFND 1 0 227,720 0
APOLLO COML REAL EST FIN INC COM 03762U105 7,108,320 665,573 SH OTR 0 665,573 0
BLUEROCK PVT REAL ESTATE FD COM 09631P102 1,620,994 124,596 SH DFND 1 0 124,596 0
BRAND ENGAGEMENT NETWORK INC *W EXP 03/14/202 104932116 2,540 18,143 SH DFND 1 0 18,143 0
BRIXMOR PPTY GROUP INC COM 11120U105 32,296,179 1,024,300 SH DFND 1 0 1,024,300 0
BXP INC COM 101121101 9,310,587 140,410 SH DFND 1 0 140,410 0
CAMDEN PPTY TR SH BEN INT 133131102 28,096,991 245,410 SH DFND 1 0 245,410 0
CAMECO CORP COM 13321L108 14,769,700 145,000 SH Call DFND 1 0 145,000 0
CARECLOUD INC COM 14167R100 444,869 209,844 SH DFND 1 0 209,844 0
CARMAX INC COM 143130102 105,054,614 1,986,285 SH DFND 1 0 1,986,285 0
CHARTER COMMUNICATIONS INC CL A 16119P108 10,590,379 74,470 SH DFND 1 0 74,470 0
CHURCHILL DOWNS INC COM 171484108 44,773,566 499,482 SH DFND 1 0 499,482 0
CION INVT CORP COM 17259U204 394,125 63,263 SH OTR 0 63,263 0
COMCAST CORP NEW CL A 20030N101 49,289,035 2,007,700 SH DFND 1 0 2,007,700 0
COMMUNITY HEALTH SYS INC NEW COM 203668108 39,610,817 11,859,526 SH DFND 1 0 11,859,526 0
CORE SCIENTIFIC INC NEW COM 21874A106 115,671,022 4,520,165 SH DFND 1 0 4,520,165 0
COUSINS PPTYS INC COM NEW 222795502 15,105,813 503,863 SH DFND 1 0 503,863 0
DEVON ENERGY CORP NEW COM 25179M103 9,090,400 220,000 SH DFND 1 0 220,000 0
ECHOSTAR CORP CL A 278768106 375,409,016 3,698,611 SH DFND 1 0 3,698,611 0
ECHOSTAR CORP NOTE 3.875%11/3 278768AB2 968,791,645 309,816,036 PRN DFND 1 0 309,816,033 0
EPR PPTYS COM SH BEN INT 26884U109 5,024,246 86,610 SH DFND 1 0 86,610 0
EQUITY LIFESTYLE PROPERTIES COM 29472R108 17,058,626 264,680 SH DFND 1 0 264,680 0
EQUITY RESIDENTIAL SH BEN INT 29476L107 15,129,370 222,720 SH DFND 1 0 222,720 0
ESSEX PPTY TR INC COM 297178105 14,013,815 48,060 SH DFND 1 0 48,060 0
EXTRA SPACE STORAGE INC COM 30225T102 41,629,903 286,510 SH DFND 1 0 286,510 0
FALCONS BEYOND GLOBAL INC *W EXP 10/06/202 306121112 32,450 12,433 SH DFND 1 0 12,433 0
FIRST INDL RLTY TR INC COM 32054K103 12,810,725 208,950 SH DFND 1 0 208,950 0
FREEPORT MCMORAN INC CL B 35671D857 22,797,625 362,500 SH Call DFND 1 0 362,500 0
GAMING & LEISURE P COM 36467J108 2,820,976 63,350 SH DFND 1 0 63,350 0
GENUINE PARTS CO COM 372460105 88,254,585 748,047 SH DFND 1 0 748,047 0
GLOBAL BUSINESS TRAVEL GROUP COM CL A 37890B100 203,877,406 21,712,184 SH OTR 0 21,712,184 0
GRUPO AEROMEXICO SAB DE CV SPONSORED ADS 40054J109 495,090,306 27,505,017 SH DFND 1 0 27,505,017 0
HEALTHCARE RLTY TR CL A COM 42226K105 13,658,741 677,181 SH DFND 1 0 677,181 0
HILTON GRAND VACATIONS INC COM 43283X105 654,406,355 12,495,825 SH DFND 1 0 12,495,825 0
HILTON WORLDWIDE HLDGS INC COM 43300A203 5,320,406 16,100 SH DFND 1 0 16,100 0
HOST HOTELS & RESORTS INC COM 44107P104 19,017,080 802,070 SH DFND 1 0 802,070 0
HYATT HOTELS CORP COM CL A 448579102 5,815,200 30,000 SH DFND 1 0 30,000 0
INVITATION HOMES INC COM 46187W107 78,809,038 2,608,707 SH DFND 1 0 2,608,707 0
IRON MTN INC DEL COM 46284V101 33,540,231 265,539 SH DFND 1 0 265,539 0
ISHARES TR RUSSELL 2000 ETF 464287655 1,201,800,000 4,000,000 SH Put DFND 1 0 4,000,000 0
JANUS DETROIT STR TR HENDRSON AAA CL 47103U845 25,245,000 500,000 SH DFND 1 0 500,000 0
KIMCO REALTY CORP COM 49446R109 31,491,164 1,242,255 SH DFND 1 0 1,242,255 0
KITE REALTY GROUP TRUST COM NEW 49803T300 21,805,205 768,330 SH DFND 1 0 768,330 0
LINEAGE INC COM 53566V106 15,700,010 363,006 SH DFND 1 0 363,006 0
MACERICH CO COM 554382101 15,356,832 609,640 SH DFND 1 0 609,640 0
MANNKIND CORP COM NEW 56400P706 145,803 34,226 SH DFND 1 0 34,226 0
MARRIOTT INTL INC NEW CL A 571903202 5,299,437 14,300 SH DFND 1 0 14,300 0
MAXCYTE INC COM 57777K106 378,824 307,987 SH DFND 1 0 307,987 0
MIDCAP FINANCIAL INVSTMNT CO COM NEW 03761U502 962,338 95,470 SH OTR 0 95,470 0
MIDCAP FINANCIAL INVSTMNT CO COM NEW 03761U502 22,713,094 2,253,283 SH DFND 1 0 2,253,283 0
NAMIB MINERALS *W EXP 06/05/203 G63638111 300,138 1,364,262 SH DFND 1 0 1,364,262 0
NVIDIA CORPORATION COM 67066G104 582,261,900 2,910,000 SH Put DFND 1 0 2,910,000 0
OFFICE PPTYS INCOME TR COM OF BENEFICIA 67623C307 8,785,668 516,804 SH DFND 1 0 516,804 0
OMEGA HEALTHCARE INVS INC COM 681936100 17,025,479 357,078 SH DFND 1 0 357,078 0
ONTO INNOVATION INC COM 683344105 13,246 35 SH DFND 1 0 35 0
OVINTIV INC COM 69047Q102 9,213,750 175,000 SH DFND 1 0 175,000 0
PHOENIX ED PARTNERS INC COM 718968100 818,008,362 24,901,320 SH DFND 1 0 24,901,320 0
PRIMO BRANDS CORPORATION CLASS A COM SHS 741623102 168,277,978 6,885,351 SH DFND 1 0 6,885,351 0
PUBLIC STORAGE COM 74460D109 45,830,274 143,980 SH DFND 1 0 143,980 0
RACKSPACE TECHNOLOGY INC COM 750102105 846,346,770 129,609,000 SH DFND 1 0 129,609,000 0
RAIN ENHANCEMENT TECHNOLOGIE *W EXP 12/31/202 75080J111 40,230 217,457 SH DFND 1 0 217,457 0
RAIN ENHANCEMENT TECHNOLOGIE CL A 75080J103 49,618 23,970 SH DFND 1 0 23,970 0
REALTY INCOME CORP COM 756109104 31,522,770 508,760 SH DFND 1 0 508,760 0
SABRE CORP COM 78573M104 30,097,712 14,400,819 SH DFND 1 0 14,400,819 0
SATELLOGIC INC *W EXP 01/25/202 80401C118 190,641 147,784 SH DFND 1 0 147,784 0
SIMON PPTY GROUP INC NEW COM 828806109 37,796,850 169,000 SH DFND 1 0 169,000 0
SPACE EXPLORATION TECHN CORP CLASS A COM STK 84615Q103 345,702,234 2,023,307 SH DFND 1 0 2,023,307 0
SPS COMM INC COM 78463M107 191,462 3,349 SH DFND 1 0 3,349 0
SSGA ACTIVE TR ST ST SH DU ETF 78470P580 20,908,300 834,996 SH DFND 1 0 834,996 0
SSGA ACTIVE TR STATE STREET IG 78470P622 39,784,400 1,580,000 SH DFND 1 0 1,580,000 0
TAIWAN SEMICONDUCTOR MANUFAC SPONSORED ADS 874039100 95,514,000 200,000 SH DFND 1 0 200,000 0
TPG INC COM CL A 872657101 77,334,324 1,907,135 SH DFND 1 0 1,907,135 0
UDR INC COM 902653104 30,104,870 754,130 SH DFND 1 0 754,130 0
UNITI GROUP LLC COM SHS 912932100 122,028,194 10,638,901 SH DFND 1 0 10,638,901 0
USA TODAY CO INC COM 36472T109 103,700,864 12,128,756 SH DFND 1 0 12,128,756 0
VANGUARD INDEX FDS S&P 500 ETF SHS 922908363 406,754,981 592,238 SH DFND 1 0 592,238 0
VENTAS INC COM 92276F100 51,619,440 581,300 SH DFND 1 0 581,300 0
VENTURE GLOBAL INC COM CL A 92333F101 5,565,000 500,000 SH DFND 1 0 500,000 0
VICI PPTYS INC COM 925652109 45,127,433 1,699,715 SH DFND 1 0 1,699,715 0
WYNDHAM HOTELS & RESORTS INC COM 98311A105 4,955,759 58,850 SH DFND 1 0 58,850 0