<SEC-DOCUMENT>0000803012-25-000031.txt : 20251114
<SEC-HEADER>0000803012-25-000031.hdr.sgml : 20251114
<ACCEPTANCE-DATETIME>20251114110921
ACCESSION NUMBER:		0000803012-25-000031
CONFORMED SUBMISSION TYPE:	SCHEDULE 13G/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20251114
DATE AS OF CHANGE:		20251114

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Cal Redwood Acquisition Corp.
		CENTRAL INDEX KEY:			0002058359
		STANDARD INDUSTRIAL CLASSIFICATION:	BLANK CHECKS [6770]
		ORGANIZATION NAME:           	05 Real Estate & Construction
		EIN:				000000000
		STATE OF INCORPORATION:			E9
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-95055
		FILM NUMBER:		251482788

	BUSINESS ADDRESS:	
		STREET 1:		2440 SAND HILL ROAD
		STREET 2:		SUITE 101
		CITY:			MENLO PARK
		STATE:			CA
		ZIP:			94025
		BUSINESS PHONE:		415-692-7762

	MAIL ADDRESS:	
		STREET 1:		2440 SAND HILL ROAD
		STREET 2:		SUITE 101
		CITY:			MENLO PARK
		STATE:			CA
		ZIP:			94025

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TD SECURITIES (USA) LLC
		CENTRAL INDEX KEY:			0000803012
		ORGANIZATION NAME:           	
		EIN:				581495511
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1031

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A

	BUSINESS ADDRESS:	
		STREET 1:		ONE VANDERBILT AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017
		BUSINESS PHONE:		212-827-6971

	MAIL ADDRESS:	
		STREET 1:		ONE VANDERBILT AVENUE
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10017

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TD SECURITIES (USA) INC.
		DATE OF NAME CHANGE:	20041124

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TD SECURITIES (USA) LLC
		DATE OF NAME CHANGE:	20041104

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	TD SECURITIES (USA) INC.
		DATE OF NAME CHANGE:	20020215
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13G/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:ns1="http://www.sec.gov/edgar/common">
  <headerData>
    <submissionType>SCHEDULE 13G/A</submissionType>
    <previousAccessionNumber>0001085146-25-003416</previousAccessionNumber>
    <filerInfo>
      <filer>
        <filerCredentials>
          <cik>0000803012</cik>
          <ccc>XXXXXXXX</ccc>
        </filerCredentials>
      </filer>
      <liveTestFlag>LIVE</liveTestFlag>



    </filerInfo>
  </headerData>
  <formData>
    <coverPageHeader>
      <amendmentNo>2</amendmentNo>
      <securitiesClassTitle>Class A ordinary shares</securitiesClassTitle>
      <eventDateRequiresFilingThisStatement>09/30/2025</eventDateRequiresFilingThisStatement>
      <issuerInfo>
        <issuerCik>0002058359</issuerCik>
        <issuerName>Cal Redwood Acquisition Corp.</issuerName>
        <issuerCusip>G17564124</issuerCusip>
        <issuerPrincipalExecutiveOfficeAddress>
          <ns1:street1>2440 SAND HILL ROAD, SUITE 101</ns1:street1>
          <ns1:city>MENLO PARK</ns1:city>
          <ns1:stateOrCountry>CA</ns1:stateOrCountry>
          <ns1:zipCode>94025</ns1:zipCode>
        </issuerPrincipalExecutiveOfficeAddress>
      </issuerInfo>
      <designateRulesPursuantThisScheduleFiled>
        <designateRulePursuantThisScheduleFiled>Rule 13d-1(c)</designateRulePursuantThisScheduleFiled>
      </designateRulesPursuantThisScheduleFiled>
    </coverPageHeader>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>TD SECURITIES (USA) LLC</reportingPersonName>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>108960</soleVotingPower>
        <sharedVotingPower>0</sharedVotingPower>
        <soleDispositivePower>108960</soleDispositivePower>
        <sharedDispositivePower>0</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>108960</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>0.5</classPercent>
      <typeOfReportingPerson>BD</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Cowen Financial Products LLC</reportingPersonName>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0</soleVotingPower>
        <sharedVotingPower>0</sharedVotingPower>
        <soleDispositivePower>0</soleDispositivePower>
        <sharedDispositivePower>0</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>0</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>0</classPercent>
      <typeOfReportingPerson>OO</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Toronto Dominion Holdings USA Inc.</reportingPersonName>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0</soleVotingPower>
        <sharedVotingPower>0</sharedVotingPower>
        <soleDispositivePower>0</soleDispositivePower>
        <sharedDispositivePower>0</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>0</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>0</classPercent>
      <typeOfReportingPerson>HC</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>TD Group US Holdings LLC</reportingPersonName>
      <citizenshipOrOrganization>DE</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>0</soleVotingPower>
        <sharedVotingPower>0</sharedVotingPower>
        <soleDispositivePower>0</soleDispositivePower>
        <sharedDispositivePower>0</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>0</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>0</classPercent>
      <typeOfReportingPerson>HC</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <coverPageHeaderReportingPersonDetails>


      <reportingPersonName>Toronto Dominion Bank</reportingPersonName>
      <citizenshipOrOrganization>Z4</citizenshipOrOrganization>
      <reportingPersonBeneficiallyOwnedNumberOfShares>
        <soleVotingPower>1170600</soleVotingPower>
        <sharedVotingPower>0</sharedVotingPower>
        <soleDispositivePower>1170600</soleDispositivePower>
        <sharedDispositivePower>0</sharedDispositivePower>
      </reportingPersonBeneficiallyOwnedNumberOfShares>
      <reportingPersonBeneficiallyOwnedAggregateNumberOfShares>1170600</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
      <aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
      <classPercent>4.9</classPercent>
      <typeOfReportingPerson>FI</typeOfReportingPerson>
    </coverPageHeaderReportingPersonDetails>
    <items>
      <item1>
        <issuerName>Cal Redwood Acquisition Corp.</issuerName>
        <issuerPrincipalExecutiveOfficeAddress>2440 SAND HILL ROAD, SUITE 101, MENLO PARK, CALIFORNIA
94025</issuerPrincipalExecutiveOfficeAddress>
      </item1>
      <item2>
        <filingPersonName>TD SECURITIES (USA) LLC

Cowen Financial Products LLC

Toronto Dominion Holdings USA Inc.

TD Group US Holdings LLC

Toronto Dominion Bank</filingPersonName>
        <principalBusinessOfficeOrResidenceAddress>ONE VANDERBILT AVENUE
NEW YORK, New York
10017

The address of TD Securities (USA) LLC's ("TDS") principal office, Cowen Financial Products LLC's ("CFP") principal office, and Toronto Dominion Holdings USA Inc.'s ("TDH") principal office is 1 Vanderbilt Avenue, New York, New York 10017. The address of TD Group US Holdings LLC's ("TD GUS") principal office is 251 Little Falls Drive, Wellington, Delaware 19808. The address of Toronto Dominion Bank's ("TD Bank") principal office is Toronto-Dominion Centre, 66 Wellington Street West, 12th Floor, TD Tower, Toronto,
Ontario, Canada M5K 1A2.</principalBusinessOfficeOrResidenceAddress>
        <citizenship>TD SECURITIES (USA) LLC - DELAWARE

Cowen Financial Products LLC - DELAWARE

Toronto Dominion Holdings USA Inc. - DELAWARE

TD Group US Holdings LLC - DELAWARE

Toronto Dominion Bank - CANADA (FEDERAL LEVEL)</citizenship>
      </item2>
      <item3>
        <notApplicableFlag>Y</notApplicableFlag>
      </item3>
      <item4>
        <amountBeneficiallyOwned>1,279,560

TDS has the sole power to vote or direct the vote and the sole power to dispose or direct the disposition of 108,960 shares.

TD Bank has the sole power to vote or direct the vote and the sole power to dispose or direct the disposition of 1,170,600 shares.

Between the Date of Event and the filing date, the subject securities previously reported as beneficially owned by CFP were transferred to TD Bank, an affiliated entity.

This schedule is jointly filed by TDS, CFP, TDH, TD GUS and TD Bank. TDH is the sole owner of TDS. TD GUS is the sole owner of TDH. TD Bank is the sole owner of TD GUS. TDH, TD GUS and TD Bank may be deemed to hold an indirect interest in the shares reported herein by TDS by virtue of their ownership of TDS.

Each of TDH, TD GUS and TD Bank disclaims ownership of the shares reported herein by TDS except to the extent of its pecuniary interest therein. Each reporting person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) of the US Securities Exchange Act of 1934 or any other purpose, (i) acting (or has agreed or is agreeing to act together with any other person) as a partnership, limited partnership, syndicate or other group for the purpose of acquiring, holding or disposing of securities of the Issuer or otherwise with respect to the Issuer or any securities of the Issuer or (ii) a member of any group with respect to the Issuer or any securities of the Issuer.</amountBeneficiallyOwned>
        <classPercent>5.4</classPercent>
        <numberOfSharesPersonHas>
          <solePowerOrDirectToVote>TD SECURITIES (USA) LLC - 108,960

Cowen Financial Products LLC - 0

Toronto Dominion Holdings USA Inc. - 0

TD Group US Holdings LLC - 0

Toronto Dominion Bank - 1,170,600</solePowerOrDirectToVote>
          <sharedPowerOrDirectToVote>TD SECURITIES (USA) LLC - 0

Cowen Financial Products LLC - 0

Toronto Dominion Holdings USA Inc. - 0

TD Group US Holdings LLC - 0

Toronto Dominion Bank - 0</sharedPowerOrDirectToVote>
          <solePowerOrDirectToDispose>TD SECURITIES (USA) LLC - 108,960

Cowen Financial Products LLC - 0

Toronto Dominion Holdings USA Inc. - 0

TD Group US Holdings LLC - 0

Toronto Dominion Bank - 1,170,600</solePowerOrDirectToDispose>
          <sharedPowerOrDirectToDispose>TD SECURITIES (USA) LLC - 0

Cowen Financial Products LLC - 0

Toronto Dominion Holdings USA Inc. - 0

TD Group US Holdings LLC - 0

Toronto Dominion Bank - 0</sharedPowerOrDirectToDispose>
        </numberOfSharesPersonHas>
      </item4>
      <item5>
        <notApplicableFlag>Y</notApplicableFlag>
      </item5>
      <item6>
        <notApplicableFlag>Y</notApplicableFlag>
      </item6>
      <item7>
        <notApplicableFlag>N</notApplicableFlag>
        <subsidiaryIdentificationAndClassification>TD Securities (USA) LLC</subsidiaryIdentificationAndClassification>
      </item7>
      <item8>
        <notApplicableFlag>Y</notApplicableFlag>
      </item8>
      <item9>
        <notApplicableFlag>Y</notApplicableFlag>
      </item9>
      <item10>
        <notApplicableFlag>N</notApplicableFlag>
        <certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.</certifications>
      </item10>
    </items>
    <exhibitInfo>Exhibit I

JOINT FILING AGREEMENT

This will confirm the agreement by and among the undersigned that the Schedule 13G filed with the Securities and Exchange Commission on or about the date hereof with respect to the beneficial ownership by the undersigned of the ordinary shares of Cal Redwood Acquisition Corp. will be filed on behalf of each of the persons and entities named below in accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

Dated: November 13, 2025

TD SECURITIES (USA) LLC

By: /s/ Christina Petrou
Title: Executive Vice President &amp; Chief Operating Officer


COWEN FINANCIAL PRODUCTS LLC

By: /s/ John Holmes
Title: Chief Operating Officer


TORONTO DOMINION HOLDINGS USA, INC.

By: /s/ Christina Petrou
Title: Executive Vice President &amp; Chief Operating Officer


TD GROUP US HOLDINGS LLC

By: /s/ Alexander Dodd
Title: Interim US Chief Financial Officer


THE TORONTO-DOMINION BANK

By: /s/ Christina Petrou
Title: Executive Vice President &amp; Chief Operating Officer</exhibitInfo>
    <signatureInformation>
      <reportingPersonName>TD SECURITIES (USA) LLC</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Christina Petrou</signature>
        <title>Christina Petrou / Executive Vice President &amp; Chief Operating Officer</title>
        <date>11/13/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Cowen Financial Products LLC</reportingPersonName>
      <signatureDetails>
        <signature>/s/ John Holmes</signature>
        <title>John Holmes / Chief Operating Officer</title>
        <date>11/13/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Toronto Dominion Holdings USA Inc.</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Christina Petrou</signature>
        <title>Christina Petrou / Executive Vice President &amp; Chief Operating Officer</title>
        <date>11/13/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>TD Group US Holdings LLC</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Alexander Dodd</signature>
        <title>Alexander Dodd / Interim US Chief Financial Officer</title>
        <date>11/13/2025</date>
      </signatureDetails>
    </signatureInformation>
    <signatureInformation>
      <reportingPersonName>Toronto Dominion Bank</reportingPersonName>
      <signatureDetails>
        <signature>/s/ Christina Petrou</signature>
        <title>Christina Petrou / Executive Vice President &amp; Chief Operating Officer</title>
        <date>11/13/2025</date>
      </signatureDetails>
    </signatureInformation>
  </formData>
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</DOCUMENT>
</SEC-DOCUMENT>
