Oasis discloses 12.9% Stratus Properties (STRS) stake in new 13D/A

Rhea-AI Filing Summary

Oasis Management and affiliates report holding 1,027,258 shares of Stratus Properties Inc. common stock, representing 12.9% of the class, in Amendment No. 6 to their Schedule 13D. The filing shows these shares are held with shared voting and dispositive power among the reporting persons.

The percentage ownership is based on 7,982,525 Stratus common shares reported outstanding as of March 20, 2026 in the company’s Form 10-K. Recent Oasis Investments II Master Fund Ltd. trades in Stratus shares over the prior sixty days were executed in the open market and are summarized in an attached schedule.

Insights

Activist ownership & governance analyst

Oasis confirms a 12.9% active stake in Stratus, with shared control over the position.

Oasis Management, its master fund, and Seth Fischer collectively report beneficial ownership of 12.9% of Stratus Properties Inc., or 1,027,258 common shares. All voting and dispositive authority over these shares is reported as shared, suggesting coordinated control across the listed reporting persons.

The amendment updates prior ownership disclosures based on 7,982,525 shares outstanding as of March 20, 2026. It also notes that recent transactions by Oasis II Fund occurred in open-market trades, with other reporting persons not trading in the last sixty days according to this summary.

Key Figures

Beneficially owned shares: 1,027,258 shares Ownership percentage: 12.9% Shares outstanding baseline: 7,982,525 shares +3 more

6 metrics

Beneficially owned shares 1,027,258 shares Common stock of Stratus Properties Inc. reported by each reporting person

Ownership percentage 12.9% Percent of Stratus common stock class represented by 1,027,258 shares

Shares outstanding baseline 7,982,525 shares Stratus common shares outstanding as of March 20, 2026, from Form 10-K

Sole voting power 0 shares Each reporting person reports no shares with sole voting authority

Shared voting power 1,027,258 shares Shares over which each reporting person has shared voting power

Date of event 04/16/2026 Date of event requiring this Schedule 13D Amendment No. 6

Key Terms

Schedule 13D, beneficially owned, shared voting power, shared dispositive power, +1 more

5 terms

Schedule 13D regulatory

"This Amendment No. 6 amends and supplements the statement on filed with the Securities and Exchange Commission"

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

beneficially owned financial

"for the aggregate number of Shares and percentage of the Shares beneficially owned by each of the Reporting Persons"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

shared voting power financial

"Shared Voting Power 1,027,258.00"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

shared dispositive power financial

"Shared Dispositive Power 1,027,258.00"

aggregate amount beneficially owned financial

"Aggregate amount beneficially owned by each reporting person 1,027,258.00"

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/20/2026 - 04:58 PM Learn about SEC filing dates

FAQ

What stake does Oasis hold in Stratus Properties Inc (STRS)?

Oasis Management and related reporting persons beneficially own 1,027,258 Stratus Properties shares, equal to 12.9% of the outstanding common stock. This level of ownership can provide meaningful influence, especially in shareholder votes and strategic discussions with the company’s management and board.

How many Stratus Properties (STRS) shares are outstanding in this filing?

The ownership percentages are calculated using 7,982,525 Stratus common shares reported outstanding as of March 20, 2026. This share count comes from Stratus’ Form 10-K for the year ended December 31, 2025, which serves as the denominator for Oasis’s 12.9% stake.

Who are the reporting persons in this Stratus Properties (STRS) Schedule 13D/A?

The filing lists Oasis Management Company Ltd., Oasis Investments II Master Fund Ltd., and Seth Fischer as reporting persons. They collectively report shared voting and dispositive power over 1,027,258 Stratus common shares, reflecting coordinated control of the disclosed stake.

What type of security in Stratus Properties (STRS) is reported in this Schedule 13D/A?

The filing covers common stock of Stratus Properties Inc., $0.01 par value per share. Oasis and its affiliates report beneficial ownership and control over 1,027,258 shares of this common stock class, representing 12.9% of the total shares outstanding used for calculation.

How is voting power over Stratus Properties (STRS) shares allocated in the filing?

Each reporting person shows 0 shares with sole voting power and 1,027,258 shares with shared voting power. They likewise report zero sole dispositive power and the same 1,027,258 shares with shared dispositive power, indicating joint authority over voting and disposition decisions.

What recent trading activity in Stratus Properties (STRS) does Oasis disclose?

The amendment notes that Oasis Investments II Master Fund Ltd. traded Stratus shares in the open market within the last sixty days. Specific trade details appear in Schedule B, while the other reporting persons state they did not enter any Stratus share transactions during that period.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 6)

Stratus Properties Inc

(Name of Issuer)

Common stock, $0.01 par value

(Title of Class of Securities)

863167201

(CUSIP Number)

Oasis Management Company Ltd.
c/o Oasis Management (Hong Kong), 25/F, LHT Tower, 31 Queen's Road Central
Central, K3, 00000
(852) 2847-7708

Ele Klein
McDermott Will & Schulte LLP, 919 Third Avenue
New York, NY, 10022
(212) 756-2000

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

04/16/2026

(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): 863167201

1

Name of reporting person

Oasis Management Company Ltd.

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)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 1,027,258.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 1,027,258.00

11

Aggregate amount beneficially owned by each reporting person

1,027,258.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

12.9 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP Number(s): 863167201

1

Name of reporting person

Oasis Investments II Master Fund Ltd.

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, OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

CAYMAN ISLANDS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 1,027,258.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 1,027,258.00

11

Aggregate amount beneficially owned by each reporting person

1,027,258.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

12.9 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP Number(s): 863167201

1

Name of reporting person

Seth Fischer

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)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

GERMANY

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 1,027,258.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 1,027,258.00

11

Aggregate amount beneficially owned by each reporting person

1,027,258.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

12.9 %

14

Type of Reporting Person (See Instructions)

IN, HC

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common stock, $0.01 par value
(b)	Name of Issuer: Stratus Properties Inc
(c)	Address of Issuer's Principal Executive Offices: 212 Lavaca Street, Suite 300, Austin, TEXAS , 78701.
Item 1 Comment: This Amendment No. 6 ("Amendment No. 6") amends and supplements the statement on Schedule 13D filed with the Securities and Exchange Commission (the "SEC") on September 12, 2016 (the "Original Schedule 13D") as amended by Amendment No. 1 to the Schedule 13D filed with the SEC on January 13, 2017 ("Amendment No. 1"), Amendment No. 2 to the Schedule 13D filed with the SEC on September 23, 2020 ("Amendment No. 2"), Amendment No. 3 to the Schedule 13D filed with the SEC on January 5, 2021 ("Amendment No. 3"), Amendment No. 4 to the Schedule 13D filed with the SEC on April 6, 2023 ("Amendment No. 4") and Amendment No. 5 to the Schedule 13D filed with the SEC on February 20, 2024 ("Amendment No. 5", and together with the Original Schedule 13D, Amendment No. 2, Amendment No. 3, Amendment No. 4, Amendment No. 5 and this Amendment No. 6, the "Schedule 13D"), with respect to the shares ("Shares") of common stock, par value $0.01 per share, of Stratus Properties Inc., a Delaware corporation (the "Issuer"). This Amendment No. 6 amends and restates Items 5(a) - (c) as set forth below. Capitalized terms used herein and not otherwise defined in this Amendment No. 6 have the meanings set forth in the Schedule 13D.
Item 5.	Interest in Securities of the Issuer
(a)	See rows (11) and (13) of the cover pages to this Schedule 13D for the aggregate number of Shares and percentage of the Shares beneficially owned by each of the Reporting Persons. The percentages used in this Schedule 13D are calculated based upon 7,982,525 Shares reported to be outstanding as of March 20, 2026 in the Issuer's Annual Report on Form 10-K for the fiscal year ended December 31, 2025 filed with the SEC on March 27, 2026.
(b)	See rows (7) through (10) of the cover pages to this Schedule 13D for the number of Shares as to which each of the Reporting Persons has the sole power to vote or direct the vote and sole power to dispose or to direct the disposition.
(c)	The transactions in the Shares by Oasis II Fund within the past sixty days, which were all in the open market, except where otherwise noted, are set forth in Schedule B, and are incorporated herein by reference. The other Reporting Persons did not enter into any transactions in the Shares within the past sixty days.

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.

Oasis Management Company Ltd.

Signature:	/s/ Phillip Meyer
Name/Title:	Phillip Meyer, General Counsel
Date:	04/20/2026

Oasis Investments II Master Fund Ltd.

Signature:	/s/ Phillip Meyer
Name/Title:	Phillip Meyer, Director
Date:	04/20/2026

Seth Fischer

Signature:	/s/ Seth Fischer
Name/Title:	Seth Fischer
Date:	04/20/2026