Oaktree reports 820,000-share (2.65%) stake in CBL

CBL & Associates Properties, Inc. ownership filing amends a previously reported passive holding: OCM Xb CBL-E Holdings, LLC (and related Oaktree entities) report 820,000 shares of Common Stock beneficially held, representing 2.65% of the class.

Rhea-AI Filing Summary

CBL & Associates Properties, Inc. ownership filing amends a previously reported passive holding: OCM Xb CBL-E Holdings, LLC (and related Oaktree entities) report 820,000 shares of Common Stock beneficially held, representing 2.65% of the class. The percentage is calculated using 30,944,758 shares outstanding as of May 6, 2026. The filing states the shares are directly held by Xb CBL-E and are indirectly managed by Oaktree Capital Holdings, LLC and controlled by Oaktree Capital Group Holdings GP, LLC; voting and dispositive power is reported as shared. The amendment is signed May 13, 2026.

Insights

Institutional Ownership Specialist

Passive institutional holder updates a 2.65% stake disclosure.

The filing amends beneficial ownership details for Oaktree-related entities, showing 820,000 shares and 2.65% of the outstanding common stock using the issuer's reported outstanding share count of 30,944,758 as of May 6, 2026. The ownership is held directly by Xb CBL-E with indirect management/control by Oaktree entities.

The report cites shared voting and dispositive power; pursuant to Rule 13d-4 the filers disclaim that filing is an admission of beneficial ownership for Sections 13(d)/(g). Subsequent filings would show any change in position or voting arrangements.

Key Figures

Beneficially owned shares: 820,000 shares Percent of class: 2.65% Shares outstanding (basis): 30,944,758 shares

3 metrics

Beneficially owned shares 820,000 shares Reported by OCM Xb CBL-E Holdings (May 13, 2026)

Percent of class 2.65% Calculated using 30,944,758 shares outstanding as of May 6, 2026

Shares outstanding (basis) 30,944,758 shares Outstanding share count cited from issuer 10-Q (as of May 6, 2026)

Key Terms

Schedule 13G/A, shared dispositive power, Rule 13d-4

3 terms

Schedule 13G/A regulatory

"Amendment No. 2 to Schedule 13G/A reporting passive ownership"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

shared dispositive power regulatory

"Shared Dispositive Power 820,000.00 reported on cover page"

Rule 13d-4 regulatory

"Pursuant to Rule 13d-4 the Reporting Persons declare that filing this statement shall not be construed"

FAQ

What stake does Oaktree report in CBL (CBL)?

Oaktree-related reporting persons state beneficial ownership of 820,000 shares, equal to 2.65% of Common Stock based on 30,944,758 shares outstanding as of May 6, 2026.

Who directly holds the shares reported in the Schedule 13G/A for CBL?

The filing states the reported securities are directly held by OCM Xb CBL-E Holdings, LLC, with indirect management by Oaktree Capital Holdings, LLC and control by Oaktree Capital Group Holdings GP, LLC.

What voting and dispositive powers are reported by the filers for CBL?

The filers report 0 sole voting power and 820,000 shared voting and dispositive power, indicating shared authority to vote and dispose of the reported shares.

What date and filing details are on the amendment for CBL?

The document is labeled Amendment No. 2 to a Schedule 13G/A and is signed by Henry Orren, Managing Director on May 13, 2026.

How was the 2.65% ownership percentage calculated in the filing?

The percentage is calculated using the issuer's reported 30,944,758 shares outstanding as of May 6, 2026, as cited from the issuer's 10-Q filed May 8, 2026.

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Accepted by SEC EDGAR 05/14/2026 - 04:18 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

CBL & ASSOCIATES PROPERTIES, INC.

(Name of Issuer)

Common Stock, $0.001 par value per share

(Title of Class of Securities)

124830878

(CUSIP Number)

03/31/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 124830878

1

Names of Reporting Persons

OCM Xb CBL-E Holdings, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 820,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 820,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

820,000.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

2.65 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: The reported percentage is calculated based on 30,944,758 shares of Common Stock outstanding as of May 6, 2026, as reported on the Issuer's 10-Q filed with the Securities and Exchange Commission ("SEC") on May 8, 2026.

SCHEDULE 13G

CUSIP Number(s): 124830878

1

Names of Reporting Persons

Oaktree Capital Holdings, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 820,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 820,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

820,000.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

2.65 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: The reported percentage is calculated based on 30,944,758 shares of Common Stock outstanding as of May 6, 2026, as reported on the Issuer's 10-Q filed with the SEC on May 8, 2026.

SCHEDULE 13G

CUSIP Number(s): 124830878

1

Names of Reporting Persons

Oaktree Capital Group Holdings GP, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 820,000.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 820,000.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

820,000.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

2.65 %

12

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person: The reported percentage is calculated based on 30,944,758 shares of Common Stock outstanding as of May 6, 2026, as reported on the Issuer's 10-Q filed with the SEC on May 8, 2026.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: CBL & ASSOCIATES PROPERTIES, INC.
(b)	Address of issuer's principal executive offices: 2030 Hamilton Place Blvd., Suite 500, Chattanooga, TN 37421
Item 2.
(a)	Name of person filing: This statement is being jointly filed by each of the following persons (collectively, the "Reporting Persons"): (i) OCM Xb CBL-E Holdings, LLC ("Xb CBL-E"); (ii) Oaktree Capital Holdings, LLC ("OCH"); and (iii) Oaktree Capital Group Holdings GP, LLC ("OCGH").
(b)	Address or principal business office or, if none, residence: 333 S. Grand Ave., 28th Floor, Los Angeles, CA 90071
(c)	Citizenship: See responses to row 4 on each cover page.
(d)	Title of class of securities: Common Stock, $0.001 par value per share
(e)	CUSIP No.: 124830878
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: See responses to row 9 on each cover page. The reported securities, which give effect to certain sales after March 31, 2026, are directly held by Xb CBL-E, which is indirectly managed by OCH, which is controlled by OCGH. Accordingly, OCH and OCGH indirectly exercise voting and dispositive control and may be deemed to beneficially own the reported securities directly held by Xb CBL-E. Pursuant to Rule 13d-4 of the Act, the Reporting Persons declare that filing this statement shall not be construed as an admission that any of the Reporting Persons are beneficial owners of the reported securities, for the purposes of Section 13(d) and/or Section 13(g) of the Act.
(b)	Percent of class: See responses to row 11 on each cover page.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: See responses to row 5 on each cover page.
	(ii) Shared power to vote or to direct the vote: See responses to row 6 on each cover page.
	(iii) Sole power to dispose or to direct the disposition of: See responses to row 7 on each cover page.
	(iv) Shared power to dispose or to direct the disposition of: See responses to row 8 on each cover page.
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

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.

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.

OCM Xb CBL-E Holdings, LLC

Signature:	/s/ Henry Orren
Name/Title:	Henry Orren / Managing Director
Date:	05/13/2026

Oaktree Capital Holdings, LLC

Signature:	/s/ Henry Orren
Name/Title:	Henry Orren / Managing Director
Date:	05/13/2026

Oaktree Capital Group Holdings GP, LLC

Signature:	/s/ Henry Orren
Name/Title:	Henry Orren / Managing Director
Date:	05/13/2026

Exhibit Information

Exhibit A Joint Filing Agreement, dated as of May 13, 2026