Redwood Trust: Howard Amster reports 9% stake
The reported 9.0% position spans direct, trust and entity holdings, while the joint filers say their filing does not affirm that a group exists.
Redwood Trust Inc. (RWT) is the issuer whose common stock Howard Amster reported beneficially owning 11,269,634 shares, or 9.0%. His reported sole voting and dispositive power covered 11,256,617 shares, with shared voting and dispositive power over 13,017 shares. Redwood Trust had 125,612,432 common shares outstanding as of August 5, 2026.
The transaction table lists open-market purchases, including 2,225,000 shares purchased by Howard Amster 2019 Charitable Remainder Unitrust #1 on September 18, 2026, at $4.00 per share, and 2,032,283 shares purchased by Howard Amster on September 21, 2026, at $4.09 per share. The reporting persons said they had invested approximately $46,005,443 in aggregate to acquire the shares as of September 25, 2026, using personal funds and working capital.
They said they have no present intention to dispose of their shares but may buy more. They also stated that the joint filing does not affirm that a reporting group exists, and that each reporting person disclaims beneficial ownership of securities held by another.
Positive
- None.
Negative
- None.
Filing Explained
The reporting persons say they may pursue future discussions or proposals involving Redwood Trust’s board, capitalization, or business, but have no specific current plan for those changes; this filing announces no such corporate change.
Key Figures
Beneficial ownership: 11,269,634 shares
Class ownership: 9.0%
Shares outstanding: 125,612,432 shares
+3 more
6 metrics
Beneficial ownership
11,269,634 shares
Howard Amster's reported aggregate beneficial ownership
Class ownership
9.0%
Percentage of common stock beneficially owned by Howard Amster
Shares outstanding
125,612,432 shares
As of August 5, 2026
Aggregate investment
Approximately $46,005,443
Reported as of September 25, 2026, to acquire 11,269,634 shares
Shares purchased
2,225,000 shares at $4.00 per share
Purchased by Howard Amster 2019 Charitable Remainder Unitrust #1 on September 18, 2026
Shares purchased
2,032,283 shares at $4.09 per share
Purchased by Howard Amster on September 21, 2026
Key Terms
beneficial owner, sole voting power, margin accounts, Joint Filing Agreement
4 terms
beneficial owner financial
"deemed to be the beneficial owner of"
A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.
sole voting power regulatory
"Sole Voting Power"
Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.
margin accounts financial
"margin accounts maintained for them"
A margin account is a brokerage account that lets an investor borrow money from the broker to buy more securities than they could with cash alone, using the securities in the account as security for the loan. Think of it like a mortgage for stock purchases: borrowing increases potential gains but also magnifies losses, can trigger a forced sale if the account falls below required limits, and carries interest costs—factors investors must manage carefully.
Joint Filing Agreement regulatory
"entered into a joint filing agreement"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How many RWT shares did Howard Amster report beneficially owning?
Howard Amster reported beneficial ownership of 11,269,634 shares, or 9.0% of the common stock. His cover-page figures list sole voting and dispositive power over 11,256,617 shares and shared voting and dispositive power over 13,017 shares.
What recent RWT stock purchases did Howard Amster report?
The transaction table lists open-market purchases, including 2,225,000 shares purchased by Howard Amster 2019 Charitable Remainder Unitrust #1 on September 18, 2026, at $4.00 per share, and 2,032,283 shares purchased by Howard Amster on September 21, 2026, at $4.09 per share.
What does Howard Amster say he may do with his RWT shares?
The reporting persons said they have no present intention to dispose of any portion of their holdings, but may purchase additional shares. They said they intend to review the investment on a continuing basis and have no specific present plans for the other corporate actions described.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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|
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 |
SCHEDULE 13D
Under the Securities Exchange Act of 1934
|
REDWOOD TRUST INC (Name of Issuer) |
COMMON STOCK PAR VALUE $0.01 PER SHARE (Title of Class of Securities) |
758075402 (CUSIP Number) |
HOWARD AMSTER
521 35TH STREET,
WEST PLAM BEACH, FL, 33407
2165951047
521 35TH STREET,
WEST PLAM BEACH, FL, 33407
2165951047
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
09/18/2026
(Date of Event Which Requires Filing of This Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.
The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the
Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other
provisions of the Act (however, see the Notes).
schemaVersion:
SCHEDULE 13D
|
| CUSIP Number(s): | 758075402 |
| 1 |
Name of reporting person
Amster Howard | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
PF | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
UNITED STATES
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
11,269,634.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
9.0 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
IN |
Comment for Type of Reporting Person:
*Mr. Amster is deemed to be the beneficial owner of (i) 8,601,143 shares that are owned directly by Mr. Amster; (ii) 173,813 shares that are owned in the aggregate by Pleasant Lake Apartments Corp., Pleasant Lake Apartments Limited Partnership, and Laughlin Holdings, LLC, all joint filers, over which Mr. Amster has sole voting and dispositive power; (iii) 2,426,651 shares that are owned in the aggregate by the trusts jointly filing herewith, over which, as sole trustee, Mr. Amster has sole voting and dispositive power; (iv) the 38,400 shares that are owned by the Howard Amster Foundation over which, Mr. Amster, as President, has sole voting and dispositive power; (v) 3,195 shares that are owned by Amster Limited Partnership, which Mr. Amster, as General Partner, has shared voting and dispositive power; (vi)16,610 shares owned by Pleasant Lake Skoien Investments LLC, which Mr. Amster, as President of Pleasant Lake Apartments Corp., the General Partner of Pleasant Lake Apartments LP, the Managing Member of Pleasant Lake Apartments LLC which is the Managing Member of Pleasant Lake Skoien Investments LLC, has sole voting and dispositive power and (vii) 9,822 shares owned by Horizon Group Properties Inc., which Mr. Amster, as the majority owner, has shared voting and dispositive power.
**Denominator is based on the 125,612,432 shares of common stock outstanding as of August 5, 2026 as reported by the Issuer on Form 10-Q for the period ending June 30, 2026, as filed with the Securities and Exchange Commission on August 5, 2026.
SCHEDULE 13D
|
| CUSIP Number(s): | 758075402 |
| 1 |
Name of reporting person
PLEASANT LAKE APARTMENTS LIMITED PARTNERSHIP | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
WC | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
OHIO
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
171,906.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0.1 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
PN |
Comment for Type of Reporting Person:
* See the footnote marked with a * to cover page for Mr. Amster.
** See the footnote marked with a ** to cover page for Mr. Amster.
SCHEDULE 13D
|
| CUSIP Number(s): | 758075402 |
| 1 |
Name of reporting person
HOWARD AMSTER 2019 CHARITABLE REMAINDER UNITRUST #1 U/A DTD 05/20/2019 | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
WC | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
OHIO
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
2,333,867.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
1.9 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
OO |
Comment for Type of Reporting Person:
* See the footnote marked with a * to cover page for Mr. Amster.
** See the footnote marked with a ** to cover page for Mr. Amster.
SCHEDULE 13D
|
| CUSIP Number(s): | 758075402 |
| 1 |
Name of reporting person
HOWARD AMSTER 2019 CHARITABLE REMAINDER UNITRUST #2 U/A DTD 05/20/2019 | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
OO | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
OHIO
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
9,856.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0.0 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
OO |
Comment for Type of Reporting Person:
* See the footnote marked with a * to cover page for Mr. Amster.
** See the footnote marked with a ** to cover page for Mr. Amster.
SCHEDULE 13D
|
| CUSIP Number(s): | 758075402 |
| 1 |
Name of reporting person
HOWARD AMSTER 2019 CHARITABLE REMAINDER UNITRUST #3 U/A DTD 05/20/2019 | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
WC | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
OHIO
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
6,524.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0.0 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
OO |
Comment for Type of Reporting Person:
* See the footnote marked with a * to cover page for Mr. Amster.
** See the footnote marked with a ** to cover page for Mr. Amster.
SCHEDULE 13D
|
| CUSIP Number(s): | 758075402 |
| 1 |
Name of reporting person
HOWARD AMSTER 2019 CHARITABLE REMAINDER UNITRUST #4 U/A DTD 05/20/2019 | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
WC | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
OHIO
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
13,053.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0.0 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
OO |
Comment for Type of Reporting Person:
* See the footnote marked with a * to cover page for Mr. Amster.
** See the footnote marked with a ** to cover page for Mr. Amster.
SCHEDULE 13D
|
| CUSIP Number(s): | 758075402 |
| 1 |
Name of reporting person
AMSTER LIMITED PARTNERSHIP | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
WC | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
OHIO
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
3,195.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0.0 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
PN |
Comment for Type of Reporting Person:
* See the footnote marked with a * to cover page for Mr. Amster.
** See the footnote marked with a ** to cover page for Mr. Amster.
SCHEDULE 13D
|
| CUSIP Number(s): | 758075402 |
| 1 |
Name of reporting person
HOWARD AMSTER 2019 CHARITABLE REMAINDER UNITRUST #7 U/A DTD 05/20/2019 | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
WC | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
OHIO
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
4,338.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0.0 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
OO |
Comment for Type of Reporting Person:
* See the footnote marked with a * to cover page for Mr. Amster.
** See the footnote marked with a ** to cover page for Mr. Amster.
SCHEDULE 13D
|
| CUSIP Number(s): | 758075402 |
| 1 |
Name of reporting person
HOWARD AMSTER 2021 CHARITABLE REMAINDER UNITRUST U/A DTD 11/23/2021 | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
WC | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
OHIO
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
13,816.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0.0 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
OO |
Comment for Type of Reporting Person:
* See the footnote marked with a * to cover page for Mr. Amster.
** See the footnote marked with a ** to cover page for Mr. Amster.
SCHEDULE 13D
|
| CUSIP Number(s): | 758075402 |
| 1 |
Name of reporting person
PLEASANT LAKE APARTMENTS CORP | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
WC | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
OHIO
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
1,907.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0.0 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
Comment for Type of Reporting Person:
* See the footnote marked with a * to cover page for Mr. Amster.
** See the footnote marked with a ** to cover page for Mr. Amster.
SCHEDULE 13D
|
| CUSIP Number(s): | 758075402 |
| 1 |
Name of reporting person
HOWARD AMSTER 2022 CHARITABLE REMAINDER UNITRUST #1 U/A DTD 03/09/2022 | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
WC | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
OHIO
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
9,319.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0.0 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
OO |
Comment for Type of Reporting Person:
* See the footnote marked with a * to cover page for Mr. Amster.
** See the footnote marked with a ** to cover page for Mr. Amster.
SCHEDULE 13D
|
| CUSIP Number(s): | 758075402 |
| 1 |
Name of reporting person
HOWARD AMSTER FOUNDATION | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
WC | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
OHIO
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
38,400.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0.0 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
OO, CO |
Comment for Type of Reporting Person:
* See the footnote marked with a * to cover page for Mr. Amster.
** See the footnote marked with a ** to cover page for Mr. Amster.
SCHEDULE 13D
|
| CUSIP Number(s): | 758075402 |
| 1 |
Name of reporting person
PLEASANT LAKE SKOIEN INVESTMENTS LLC | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
WC | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
DELAWARE
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
16,610.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0.0 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
PN |
Comment for Type of Reporting Person:
* See the footnote marked with a * to cover page for Mr. Amster.
** See the footnote marked with a ** to cover page for Mr. Amster.
SCHEDULE 13D
|
| CUSIP Number(s): | 758075402 |
| 1 |
Name of reporting person
HOWARD AMSTER 2019 CHARITABLE REMAINDER UNITRUST #5 U/A DTD 05/20/2019 | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
WC | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
OHIO
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
1,504.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0.0 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
OO |
Comment for Type of Reporting Person:
* See the footnote marked with a * to cover page for Mr. Amster.
** See the footnote marked with a ** to cover page for Mr. Amster.
SCHEDULE 13D
|
| CUSIP Number(s): | 758075402 |
| 1 |
Name of reporting person
HOWARD AMSTER 2021 CHARITABLE REMAINDER UNITRUST #1 U/A DTD 08/10/2021 | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
WC | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
OHIO
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
318.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0.0 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
OO |
Comment for Type of Reporting Person:
* See the footnote marked with a * to cover page for Mr. Amster.
** See the footnote marked with a ** to cover page for Mr. Amster.
SCHEDULE 13D
|
| CUSIP Number(s): | 758075402 |
| 1 |
Name of reporting person
HOWARD AMSTER AND TAMRA GOULD CHARITABLE REMAINDER UNITRUST U/A DTD 03/18/1993 | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
WC | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
OHIO
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
1,324.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0.0 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
OO |
Comment for Type of Reporting Person:
* See the footnote marked with a * to cover page for Mr. Amster.
** See the footnote marked with a ** to cover page for Mr. Amster.
SCHEDULE 13D
|
| CUSIP Number(s): | 758075402 |
| 1 |
Name of reporting person
HOWARD AMSTER CHARITABLER REMAINDER UNITRUST U/A DTD 04/22/1998 | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
WC | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
OHIO
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
2,692.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0.0 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
OO |
Comment for Type of Reporting Person:
* See the footnote marked with a * to cover page for Mr. Amster.
** See the footnote marked with a ** to cover page for Mr. Amster.
SCHEDULE 13D
|
| CUSIP Number(s): | 758075402 |
| 1 |
Name of reporting person
HOWARD AMSTER CHARITABLE REMAINDER UNITRUST U/A DTD 01/11/2005 | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
WC | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
OHIO
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
16,900.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0.0 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
OO |
Comment for Type of Reporting Person:
* See the footnote marked with a * to cover page for Mr. Amster.
** See the footnote marked with a ** to cover page for Mr. Amster.
SCHEDULE 13D
|
| CUSIP Number(s): | 758075402 |
| 1 |
Name of reporting person
HORIZON GROUP PROPERTIES INC. | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b) | ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
WC | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
DELAWARE
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
9,822.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
0.1 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
CO |
Comment for Type of Reporting Person:
* See the footnote marked with a * to cover page for Mr. Amster.
** See the footnote marked with a ** to cover page for Mr. Amster.
SCHEDULE 13D
|
| Item 1. | Security and Issuer | |
| (a) | Title of Class of Securities:
COMMON STOCK PAR VALUE $0.01 PER SHARE | |
| (b) | Name of Issuer:
REDWOOD TRUST INC | |
| (c) | Address of Issuer's Principal Executive Offices:
ONE BELVEDERE PLACE, SUITE 300, MILL VALLEY,
CALIFORNIA
, 94941. | |
Item 1 Comment:
This Schedule 13D relates to the common stock of Redwood Trust, Inc. (the Issuer). The principal executive office of the Issuer is One Belvedere Place, Suite 300, Mill Valley, CA 94941 | ||
| Item 2. | Identity and Background | |
| (a) | This Schedule 13D is filed as a joint statement by the Reporting Persons (as defined below)
1. Howard Amster, individually
2. Howard Amster 2019 Charitable Remainder Unitrust #1 U/A DTD 05/20/2019
3. Howard Amster 2019 Charitable Remainder Unitrust #2 U/A DTD 05/20/2019
4. Howard Amster 2019 Charitable Remainder Unitrust #3 U/A DTD 05/20/2019
5. Howard Amster 2019 Charitable Remainder Unitrust #4 U/A DTD 05/20/2019
6. Howard Amster 2019 Charitable Remainder Unitrust #7 U/A DTD 05/20/2019
7. Howard Amster 2021 Charitable Remainder Unitrust #3 U/A DTD 11/23/2021
8. Amster Limited Partnership
9. Pleasant Lake Apartments Limited Partnership
10. Pleasant Lake Apartments Corp
11. Howard Amster 2022 Charitable Remainder Unitrust #1 U/A DTD 03/09/2022
12. Howard Amster Foundation
13. Pleasant Lake Skoien Investments LLC
14. Howard Amster 2019 Charitable Remainder Unitrust #5 U/A DTD 05/20/2019
15. Howard Amster 2021 Charitable Remainder Unitrust #1 U/A DTD 08/10/2021
16. Howard Amster 2021 Charitable Remainder Unitrust #2 U/A DTD 08/10/2021
17. Howard Amster and Tamra Gould Charitable Remainder Unitrust U/A DTD 03/18/1993
18. Howard Amster Charitable Remainder Unitrust U/A DTD 04/22/1998
19. Howard Amster Charitable Remainder Unitrust U/A DTD 01/11/2005
20. Horizon Group Properties Inc.
(together, the Reporting Persons). Further Information regarding the Reporting Persons is set forth below
The Reporting Persons are making this single, joint filing because they may be deemed to be a group within the meaning of Section 13(d)(3) of the Securities Exchange Act of 1934, as amended (the Act). This filing, however, should not be deemed an affirmation that such a group exists for the purposes of the Act or for any other purpose, and each Reporting Person expressly disclaims beneficial ownership of any securities beneficially owned or directly held by any other person. The agreement among Reporting Persons to file jointly is attached hereto as Exhibit 99.1
| |
| (b) | The principal business address of each of the Reporting Persons is 521 35th Street, West Palm Beach, FL 33407 | |
| (c) | In addition to his investment-related activities, Mr. Amster serves as President of Pleasant Lake Apartments Corp., which is the General Partner of Pleasant Lake Apartments Limited Partnership, which is the Manager of Pleasant Lake Skoien Investments LLC. Mr. Amster is a member of the board of directors and the majority shareholder of Horizon Group Properties Inc. Mr. Amster also serves as the sole trustee of the following trusts: (A) the Howard Amster 2019 Charitable Remainder Unitrust #1 U/A DTD 05/20/2019, (B) the Howard Amster 2019 Charitable Remainder Unitrust #2 U/A DTD 05/20/2019, (C) the Howard Amster 2019 Charitable Remainder Unitrust #3 U/A DTD 05/20/2019, (D) the Howard Amster 2019 Charitable Remainder Unitrust #4 DTD 05/20/2019, (E) the Howard Amster 2019 Charitable Remainder Unitrust #7 U/A 05/20/219, (F) the Howard Amster 2021 Charitable Remainder Unitrust #3 U/A DTD 11/23/2021, (G) the Howard Amster 2022 Charitable Remainder Unitrust #1 U/A 03/09/2022 (H) The Howard Amster 2019 Charitable Remainder Unitrust #5 U/A DTD 05/20/2019 (I) the Howard Amster 2021 Charitable Remainder Unitrust #1 U/A DTD 08/10/2021, (J) the Howard Amster 2021 Charitable Remainder .Unitrust #2 U/A DTD 08/10/2021, (L) the Howard Amster and Tamra Gould Charitable Remainder Unitrust U/A DTD 03/18/1993,(M) the Howard Amster Charitable Remainder Unitrust U/A DTD 04/22/1998, and (L) the Howard Amster Charitable Remainder Unitrust U/A DTD 01/11/2005. Mr. Amster also is (i) the co-general partner of Amster Limited Partnership and (ii) President of the Howard Amster Foundation. All Reporting Persons are engaged in investments. | |
| (d) | During the last five years, none of the Reporting Persons or any of their executive officers, directors or control persons has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors). | |
| (e) | During the last five years, no Reporting Person has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction as a result of which proceeding such Reporting Person is or was subject to a judgment, decree, or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. | |
| (f) | All natural Reporting Persons are United States citizens. All Reporting Persons that are entities are entities organized or formed under the laws of the State of Ohio other than Pleasant Lake Skoien Investments LLC, which is a Delaware limited liability companies, and Horizon Group Properties Inc. which is a Delaware corporation | |
| Item 3. | Source and Amount of Funds or Other Consideration | |
As of September 25, 2026, the Reporting Persons had, in the aggregate, invested approximately $46,005,443 to acquire 11,269,634 shares of the Common Stock of the Issuer. The Reporting Persons used personal funds and working capital for such purchases.
The Reporting Persons may effect purchases of securities primarily through margin accounts maintained for them with RBC Capital Markets LLC and Interactive Brokers LLC, which may extend margin credit to the Reporting Persons as and when required to open and carry positions in the margin accounts, subject to applicable Federal margin regulations, stock exchange rules, and the firms respective credit policies. In such instances, the positions held in the margin accounts are pledged as collateral security for the repayment of debit balances in the accounts.
| ||
| Item 4. | Purpose of Transaction | |
The Reporting Persons acquired the shares of Common Stock to which this Schedule 13D relates for investment purposes because they believe they represent an attractive investment opportunity.
While the Reporting Persons have no present intention to dispose of all or any portion of the Common Stock beneficially owned by them, the Reporting Persons may, from time to time, modify their present intention as stated in this Item 4. In addition, they may at their discretion purchase additional shares of Common Stock of the Issuer. Any such sales of the Common Stock may be made in the open market, privately negotiated transactions, or otherwise.
Except as set forth herein, no Reporting Person has any present plan or proposal which relate to or would result in any of the matters set forth in subparagraphs (a)-(f) of Item 4 of this Schedule 13D except as would occur upon on in connection with the completion of, or following, any of the actions discussed herein. The Reporting Persons intend to review their investment in the Issuer on a continuing basis. Depending on various factors, including, without limitation, the Issuer's financial condition, the price levels of the shares of its Common Stock, conditions in the overall securities markets, and general economic and industry conditions, the Reporting Persons may in the future take such actions with respect to their investment in the Issuer as they deem appropriate, including, without limitation, engaging in communications with management and the Board of Directors of the Issuer, engaging in discussions with the stockholders of the Issuer or other third parties about the Issuer and the Reporting Persons' holdings of the Issuers Common Stock, including potential business combinations or dispositions involving the Issuer or certain of its
businesses, making recommendations or proposals to the Issuer concerning changes to the capitalization, ownership structure, board structure, (including board composition), potential business combinations or dispositions involving the Issuer or certain of its businesses, or suggestions for improving the Issuer's financial and/or operational performance, purchasing additional shares of Common Stock, selling some or all of their shares of Common Stock, engaging in short selling or hedging or similar transactions with respect to the shares of Common Stock, including swaps and other derivative instruments, or changing their intention with respect to any and all matters referred to in Item 4.
Except as set forth above, the Reporting Persons do not have at this time any specific plans which would result in (a) the acquisition by the Reporting Persons of additional securities of the Issuer or the disposition by the Reporting Persons of securities of the Issuer, other than described above, (b) any extraordinary corporate transactions such as a merger, reorganization, or liquidation involving the Issuer or any of its subsidiaries, (c) any sale or transfer of a material amount of the assets of the Issuer or any of its subsidiaries, (d) any change in the present management or board of directors of the Issuer, including any plans or proposals to change the number or term of directors, or to fill any existing vacancies on the Issuer's board of directors, (e) any material change in the present capitalization or dividend policy of the Issuer, (f) any material change in the Issuer's business or corporate structure, (g) any change in the Issuer's charter, bylaws, or instruments corresponding thereto or other actions which may impede the acquisition of control of the Issuer by any person, (h) the Common Stock being delisted from a national securities exchange or ceasing to be authorized to be quoted in an inter-dealer quotation system or a registered national securities association, (i) causing a class of equity securities of the Issuer to be eligible for termination of registration pursuant to Section 12(g)(4) of the Act, or (j) any action similar to those enumerated above.
| ||
| Item 5. | Interest in Securities of the Issuer | |
| (a) | See Items 11 and 13 of the respective cover pages to this Schedule 13D, which Items are incorporated herein by reference, for the aggregate number of shares and percentage of the Common Stock identified pursuant to Item 1 beneficially owned by each of the Reporting Persons. | |
| (b) | See items 7, 8, 9, and 10 of the respective cover pages to this Schedule 13D, which Items are incorporated herein by reference, for the aggregate number and percentage of the shares of the Common Stock beneficially owned by each of the Reporting Persons as to which there is sole or shared power to vote or direct the vote and sole or shared power to dispose or to direct the disposition of such shares of the Common Stock. | |
| (c) | The following table sets forth all transactions with respect to shares of the Common Stock effected during the past sixty (60) days by any of the Reporting Persons, inclusive of any transactions effected through 5:00 p.m., New York City time, on September 25, 2026.
All transactions were purchases and were conducted on the open market. If the shares were purchased in multiple transactions on a single trading day, the price per share reported is the weighted average price.
Date Shares Purchased Per Share Total Price Purchaser
07/22/26 44,250 $5.09 $224,819 Howard Amster*
07/23/26 472 $5.14 $1,887 Howard Amster and T Gould 1993 CRUT**
07/23/26 979 $5.06 $4,954 Howard Amster 1998 CRUT**
07/23/26 16,000 $4.96 $79,429 Howard Amster**
07/24/26 9,903 $4.97 $49,221 Howard Amster***
07/28/26 15,400 $4.67 $71,655 Howard Amster 2019 CRUT 1****
07/28/26 495 $4.66 $2,338 Howard Amster 2019 CRUT 2****
07/28/28 6,732 $4.65 $31,335 Howard Amster 2019 CRUT 4****
07/28/26 1,504 $4.65 $6,988 Howard Amster 2019 CRUT 5****
07/28/26 290 $4.69 $1,359 Howard Amster 2021 CRUT 1****
07/28/26 318 $4.69 $1,491 Howard Amster 2021 CRUT 2****
07/28/26 8,860 $4.63 $41,009 Howard Amster 2021 CRUT 3****
07/28/26 4,500 $4.59 $20,669 Howard Amster 2022 CRUT 1****
07/28/26 717 $4.63 $3,323 Amster Limited Partnership****
07/28/26 21,500 $4.67 $100,400 Howard Amster Foundation****
07/28/26 582 $4.64 $2,703 Horizon Group Properties Inc.****
07/28/26 1,465 $4.60 $6,741 Horizon Group Properties Inc.***
07/28/26 308,000 $4.68 $1,440,430 Howard Amster****
07/29/26 6,400 $4.68 $29,981 Howard Amster 2019 CRUT 2*****
07/29/26 6,524 $4.67 $30,499 Howard Amster 2019 CRUT 3*****
07/29/26 4,956 $4.67 $23,159 Howard Amster 2021 CRUT 3*****
07/29/26 1,260 $4.70 $5,922 Howard Amster 1998 CRUT*****
07/29/26 780 $4.71 $3,671 Horizon Group Properties Inc.*****
07/30/26 32,050 $4.67 $149,818 Howard Amster 2019 CRUT 1******
07/30/26 12,850 $4.66 $59,822 Howard Amster 2021 CRUT 1******
07/30/26 17,606 $4.68 $82,361 Pleasant Lake Apartments LTD******
07/30/26 16,610 $4.61 $76,610 PLA-Skoien Investments LLC******
07/31/26 27,700 $4.54 $125,777.28 Howard Amster 2019 CRUT 1*******
07/31/26 6,321 $4.53 $28,634 Howard Amster 2019 CRUT 4*******
07/31/26 1,308 $4.57 $5,976 Howard Amster 2019 CRUT 7*******
07/31/26 4,819 $4.57 $22,006 Howard Amster 2022 CRUT 1*******
07/31/26 1,665 $4.57 $7,616 Amster Limited Partnership*******
07/31/26 10,900 $4.54 $49,513 Howard Amster Foundation*******
07/31/26 5,692 $4.54 $25,817 Horizon Group Properties Inc.*****
07/31/26 43,950 $4.54 $199,799 Howard Amster*******
08/03/26 13,147 $4.64 $60,998 Howard Amster********
08/04/26 65,500 $4.64 $304,090 Howard Amster*********
08/05/26 67,700 $4.58 $310,052 Howard Amster**********
08/11/26 24,270 $4.68 $113,540 Howard Amster***********
08/11/26 1,480 $4.71 $6,971 Howard Amster***********
08/13/26 23,400 $4.78 $111,786 Pleasant Lake Apartments LTD************
08/14/26 6,150 $4.81 $29,552 Howard Amster*************
08/18/26 27,700 $4.70 $130,257 Pleasant Lake Apartments LTD**************
08/20/26 111,800 $4.75 $530,560 Howard Amster***************
08/26/26 72,900 $4.68 $340,909 Howard Amster****************
08/26/26 737 $4.67 $3,441 Horizon Group Properties Inc.****************
08/27/26 7,400 $4.65 $34,535 Howard Amster*********************
08/27/26 53,100 $4.63 $245,640 Howard Amster*********************
08/28/26 57,600 $4.63 $266,481 Howard Amster**********************
08/28/26 5,000 $4.64 $13,771 Howard Amster 2019 CRUT 2**********************
08/28/26 9,200 $4.64 $42,714 Pleasant Lake Apartments LTD**********************
08/31/26 3,030 $4.65 $14,802 Howard Amster 2019 CRUT 7***********************
08/31/26 566 $4.68 $2,650 Horizon Group Properties Inc.***********************
08/31/26 5,000 $4.61 $23,035 Howard Amster ***********************
09/1/26 4,500 $4.55 $20,458 Howard Amster 2005 CRUT********************
09/01/26 4,600 $4.54 $20,869 Howard Amster********************
09/02/26 12,400 $4.49 $55,652 Howard Amster 2005 CRUT********************
09/02/26 68,300 $4.50 $307,500 Howard Amster*********************
09/03/26 68,100 $4.49 $305,687 Howard Amster**********************
09/04/26 44,800 $4.54 $203,192 Howard Amster***********************
09/09/26 40,600 $4.31 $175,143 Howard Amster************************
09/10/26 2,000,000 $3.58 $7,173,185 Howard Amster*************************
09/11/26 850,000 $3.54 $3,006,287 Howard Amster**************************
09/17/26 475,000 $3.97 $1,887,989 Howard Amster***************************
09/18/26 709,000 $4.00 $2,836,910 Howard Amster****************************
09/18/26 2,225,000 $4.00 $9,002,873 Howard Amster 2019 CRUT 1****************************
09/21/26 2,032,283 $4.09 $8,317,375 Howard Amster*****************************
09/21/26 8,717 $4.09 $35,685 Howard Amster 2019 CRUT 1*****************************
*For purchases on 07/22/29, the High Price was $5.08 and the Low Price was $5.08
**For purchases on 07/23/26, the High Price was $5.14 and the Low Price was $4.96
***For purchases on 07/24/26, the High Price was $4.97 and the Low Price was $4.97
****For purchases on 07/28/26, the High Price was $4.78, and the Low Price was $4.59
*****For purchases on 07/29/26, the High Price was $4.71, and the Low Price was $4.67
******For purchases on 07/30/26, the High Price was $4.68, and the Low Price was $4.61
*******For purchases on 07/31/26, the High Price was $4.57, and the Low Price was $4.53
********For purchases on 08/03/26, the High Price was $4.64, and the Low Price was $4.64
*********For purchases on 08/04/26, the High Price was $4.67, and the Low Price was $4.64
**********For purchases on 08/05/26, the High Price was $4.58, and the Low Price was $4.58
***********For purchases on 08/11/26, the High Price was $4.71, and the Low Price was $4.68
************For purchases on 08/13/26, the High Price was $4.78, and the Low Price was $4.78
*************For purchases on 08/14/26, the High Price was $4.83, and the Low Price was $4.80
**************For purchases on 08/18/26, the High Price was $4.70, and the Low Price was $4.70
***************For purchases on 08/20/26, the High Price was $4.77, and the Low Price was $4.72
****************For purchases on 08/26/26, the High Price was $4.71, and the Low Price was $4.64
*****************For purchases on 08/27/26, the High Price was $4.65, and the Low Price was $4.62
******************For purchases on 08/28/26, the High Price was $4.67, and the Low Price was $4.62
*******************For purchases on 08/31/26, the High Price was $4.68, and the Low Price was $4.60
********************For purchases on 09/01/26, the High Price was $4.55, and the Low Price was $4.54
*********************For purchases on 09/02/26, the High Price was $4.52, and the Low Price was $4.48
**********************For purchases on 09/03/26, the High Price was $4.50, and the Low Price was $4.45
***********************For purchases on 09/04/26, the High Price was $4.54, and the Low Price was $4.52
************************For purchases on 09/09/26, the High Price was $4.33, and the Low Price was $4.27
*************************For purchases on 09/10/26, the High Price was $3.73, and the Low Price was $3.40
**************************For purchases on 09/11/26, the High Price was $3.58, and the Low Price was $3.52
***************************For purchases on 09/17/26, the High Price was $4.00, and the Low Price was $3.94
****************************For purchases on 09/18/26, the High Price was $4.05, and the Low Price was $3.92
*****************************For purchases on 09/21/26, the High Price was $4.14, and the Low Price was $4.00
| |
| (d) | Other than the Reporting Persons, no other person is known by the Reporting Persons to have the right to receive or direct the receipt of dividends from, or the proceeds from the sale of, the shares of the Common Stock of the Issuer beneficially owned by the Reporting Persons. | |
| (e) | Not Applicable | |
| Item 6. | Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer | |
There are no contracts, arrangements, understandings, or relationships with respect to the securities of the Issuer with any person except as set forth in Items 2 and 4 above.
The Reporting Persons entered into a joint filing agreement (the Joint Filing Agreement) pursuant to which each the Reporting Person agreed to the joint filing of this Schedule 13D to the extent required by applicable law. The Joint Filing Agreement is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
| ||
| Item 7. | Material to be Filed as Exhibits. | |
Exhibit EX. 99.1 Joint Filing Agreement | ||
| SIGNATURE | |
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
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