SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. Five) Redwood Trust, Inc. - -------------------------------------------------------------------------------- (Name of Issuer) Common - -------------------------------------------------------------------------------- (Title of Class of Securities) Common-758075402 - -------------------------------------------------------------------------------- (CUSIP Number) - ------------------------------------------------------------------------------- (1) Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only). WALLACE R. WEITZ & COMPANY 47-0654095 - ------------------------------------------------------------------------------- (2) Check the Appropriate Box if a Member (a) / / of a Group (See Instructions) (b) /X/ - ------------------------------------------------------------------------------- (3) SEC Use Only - ------------------------------------------------------------------------------- (4) Citizenship or Place of Organization STATE OF NEBRASKA - ------------------------------------------------------------------------------- Number of Shares (5) Sole Voting Power Beneficially 2,103,514 Owned by -------------------------------------------------- Each Reporting (6) Shared Voting Power Person With: NONE -------------------------------------------------- (7) Sole Dispositive Power 2,103,514 -------------------------------------------------- (8) Shared Dispositive Power NONE - ------------------------------------------------------------------------------- (9) Aggregate Amount Beneficially Owned by Each Reporting Person 2,103,514 - ------------------------------------------------------------------------------- (10) Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) / / - ------------------------------------------------------------------------------- (11) Percent of Class Represented by Amount in Row (9) 18.6% - ------------------------------------------------------------------------------- (12) Type of Reporting Person (See Instructions) IA - ------------------------------------------------------------------------------- SCHEDULE 13G Page -2- ITEM 1. (a) Name of Issuer REDWOOD TRUST, INC. --------------------------------------------------------------------- (b) Address of Issuer's Principal Executive Offices 591 REDWOOD HIGHWAY, SUITE 3100 MILL VALLEY, CALIFORNIA 94941 --------------------------------------------------------------------- ITEM 2. (a) Name of Person Filing WALLACE R. WEITZ & COMPANY --------------------------------------------------------------------- (b) Address of Principal Business Office or, if none, Residence 1125 SOUTH 103RD STREET, SUITE 600 OMAHA, NEBRASKA 68124-6008 --------------------------------------------------------------------- (c) Citizenship STATE OF NEBRASKA --------------------------------------------------------------------- (d) Title of Class of Securities COMMON --------------------------------------------------------------------- (e) CUSIP Number COMMON-758075402 --------------------------------------------------------------------- ITEM 3. If this statement is filed pursuant to Rules 13d-1(b), or 23-d(b), check whether the person filing is a: /X/ INVESTMENT ADVISER REGISTERED UNDER SECTION 203 OF THE INVESTMENT ADVISER ACT OF 1940 ITEM 4. OWNERSHIP Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned: 2,103,514 --------------------------------------------------------------------------- (b) Percent of class: 18.6% --------------------------------------------------------------------------- (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote 2,103,514 ----------------------------------------------------------------- (ii) Shared power to vote or to direct the vote NONE ----------------------------------------------------------------- (iii) Sole power to dispose or to direct the disposition of 2,103,514 ----------------------------------------------------------------- (iv) Shared power to dispose or to direct the disposition of NONE ----------------------------------------------------------------- ITEM 10. CERTIFICATION By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired in the ordinary course of business and were not acquired for the purpose of the effect of changing or influencing the control of the issuer of securities and were not acquired in connection with or as a participant in any transaction having purposes or effect. /s/ Wallace R. Weitz ---------------------------------------- Wallace R. Weitz, President 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. Date: 2/10/99 /s/ Wallace R. Weitz ------- ------------------------------------------------------ Wallace R. Weitz, President