Initial Statement of Beneficial Ownership (3)

FORM 3	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES	OMB APPROVAL OMB Number: 3235-0104 Estimated average burden hours per response... 0.5
	Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

1. Name and Address of Reporting Person * Stahl John A.	2. Date of Event Requiring Statement (MM/DD/YYYY) 10/23/2020	3. Issuer Name and Ticker or Trading Symbol GWG Holdings, Inc. [GWGH]
(Last)        (First)        (Middle) C/O GWG HOLDINGS, INC.,, 325 N. ST. PAUL STREET, SUITE 2650	4. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director                          ___X___ 10% Owner _____ Officer (give title below)        _____ Other (specify below)
(Street) DALLAS, TX 75201       (City)              (State)              (Zip)	5. If Amendment, Date Original Filed(MM/DD/YYYY)	6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock, $0.001 par value	0 (1)	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security (Instr. 4)	2. Date Exercisable and Expiration Date (MM/DD/YYYY)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

(1)

The Reporting Person is Trustee of the Certificateholders to certain trusts (the "Custody Trusts") that collectively own 9,837,264 shares of the outstanding common stock of GWG Holdings, Inc. (the "Issuer") and has voting power and dispositive power over the shares of the Issuer's common stock held by the Custody Trusts. However, the Reporting Person has no pecuniary interest in the shares of the Issuer's common stock held by the Custody Trusts.

Reporting Owners
Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Stahl John A. C/O GWG HOLDINGS, INC., 325 N. ST. PAUL STREET, SUITE 2650 DALLAS, TX 75201		X

Signatures
/s/ John A. Stahl		11/2/2020
**Signature of Reporting Person		Date