Schedule 13D/A: Black Diamond and Deckoff Disclose 5.13M CPSS Shares

Rhea-AI Filing Summary

Amendment No. 5 to Schedule 13D reports that Black Diamond Holdings, LLLP and Stephen H. Deckoff replaced BDCM CT, L.L.C. as the primary registered investment adviser exercising investment discretion over accounts holding Consumer Portfolio Services, Inc. common stock. The Continuing Reporting Persons report beneficial ownership of 5,127,165 shares, representing approximately 23.1% of the company's outstanding common stock based on 22,224,186 shares outstanding as of August 8, 2025. The filing notes shared voting and dispositive power over these shares and attaches a joint filing agreement as Exhibit G.

Positive

• Continuing Reporting Persons disclose a large stake: 5,127,165 shares representing 23.1% of outstanding common stock
• Clear disclosure of adviser change: Black Diamond replaced BDCM CT as primary registered investment adviser, improving reporting clarity
• Joint Filing Agreement filed (Exhibit G) formalizes the reporting relationship among the Reporting Persons

Negative

• None.

Insights

Financial Analyst

TL;DR: A single investor group now reports shared control of 23.1% of CPSS, a material ownership stake that can influence governance and strategic outcomes.

The amendment documents a change in the registered investment adviser relationship: Black Diamond Holdings and its Managing Principal, Stephen Deckoff, are the continuing reporting persons and may be deemed to beneficially own 5,127,165 shares (23.1%). For investors, a nearly quarter-sized stake is material because it confers meaningful voting influence and potential to affect board composition or corporate actions. The filing is procedural in nature but discloses a concentration of ownership that market participants will view as impactful.

Corporate Governance Expert

TL;DR: Ownership consolidation under Black Diamond and Deckoff increases clarity on who holds voting discretion for a 23.1% stake in CPSS.

The Schedule 13D amendment replaces BDCM CT with Black Diamond as the primary adviser exercising investment discretion, with Mr. Deckoff identified as Managing Principal. The disclosure of shared voting and dispositive power over 5,127,165 shares is significant for governance monitoring: it clarifies the responsible decision-makers and formalizes their reporting obligations via the attached joint filing agreement. This transparency is material for governance assessments and shareholder engagement considerations.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 5)

CONSUMER PORTFOLIO SERVICES, INC.

(Name of Issuer)

Common Stock, no par value

(Title of Class of Securities)

210502100

(CUSIP Number)

Matthew Kane
2187 Atlantic Street, 9th Floor
Stamford, CT, 06902
(203) 552-0888

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

08/22/2025

(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).

SCHEDULE 13D

CUSIP No. 210502100

1

Name of reporting person

BDCM CT, L.L.C.

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)

OO

5

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

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 5,127,165.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 5,127,165.00

11

Aggregate amount beneficially owned by each reporting person

5,127,165.00

12

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

13

Percent of class represented by amount in Row (11)

23.1 %

14

Type of Reporting Person (See Instructions)

IA, OO

SCHEDULE 13D

CUSIP No. 210502100

1

Name of reporting person

Black Diamond Holdings, LLLP

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)

OO

5

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

6

Citizenship or place of organization

VIRGIN ISLANDS, U.S.

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 5,127,165.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 5,127,165.00

11

Aggregate amount beneficially owned by each reporting person

5,127,165.00

12

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

13

Percent of class represented by amount in Row (11)

23.1 %

14

Type of Reporting Person (See Instructions)

IA, PN

SCHEDULE 13D

CUSIP No. 210502100

1

Name of reporting person

Deckoff Stephen H

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)

OO

5

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

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 5,127,165.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 5,127,165.00

11

Aggregate amount beneficially owned by each reporting person

5,127,165.00

12

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

13

Percent of class represented by amount in Row (11)

23.1 %

14

Type of Reporting Person (See Instructions)

IN, HC

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, no par value
(b)	Name of Issuer: CONSUMER PORTFOLIO SERVICES, INC.
(c)	Address of Issuer's Principal Executive Offices: 3800 Howard Hughes Parkway, Suite 1400, Las Vegas, NEVADA , 89169.
Item 1 Comment: This Amendment No. 5 to Schedule 13D ("Amendment No. 5") amends and supplements the information set forth in the Schedule 13D filed by the Reporting Persons with the U.S. Securities and Exchange Commission (the "SEC") on December 9, 2021 (the "Original Schedule 13D"), as amended by Amendment No. 1, filed with the SEC on February 8, 2022 ("Amendment No. 1"), Amendment No. 2, filed with the SEC on February 15, 2022 ("Amendment No. 2"), Amendment No. 3, filed with the SEC on March 14, 2022 ("Amendment No. 3"), and Amendment No. 4, filed with the SEC on June 28, 2022 ("Amendment No. 4" and together with the Original Schedule 13D, Amendment No. 1, Amendment No. 2, and Amendment No. 3, the "Schedule 13D"), with respect to the Common Stock, no par value (the "Shares"), of Consumer Portfolio Services, Inc. (the "Issuer" or the "Company"), whose principal executive offices are located at 3800 Howard Hughes Parkway, Suite 1400, Las Vegas, Nevada 89169. All capitalized terms contained herein but not otherwise defined shall have the meanings ascribed to such terms in the Schedule 13D. Except as specifically provided herein, this Amendment No. 5 does not modify any of the information previously reported in the Schedule 13D.
Item 2.	Identity and Background
(a)	Item 2 of the Schedule 13D is hereby amended and restated in its entirety as follows: This statement is filed by BDCM CT, L.L.C. ("BDCM CT" and formerly Black Diamond Capital Management, L.L.C.), Black Diamond Holdings, LLLP ("Black Diamond"), and Stephen H. Deckoff ("Mr. Deckoff"). BDCM CT, Black Diamond, and Mr. Deckoff are each referred to as a "Reporting Person" and collectively as the "Reporting Persons." The agreement among the Reporting Persons to file this statement jointly in accordance with Rule 13d-1(k) under the Securities Exchange Act of 1934, as amended, is attached as Exhibit D to this Schedule 13D.
(b)	The principal business address of BDCM CT is 2187 Atlantic Street, 9th Floor, Stamford, CT 06902. The principal business address of Black Diamond and Mr. Deckoff is 5330 Yacht Haven Grande, Suite 100, Box 35, St. Thomas, U.S. Virgin Islands 00802.
(c)	This Amendment No. 5 is being filed because, effective August 22, 2025, Black Diamond replaced BDCM CT as the primary registered investment adviser that exercises investment discretion on behalf of investment advisory affiliates that serve as investment advisers to Black Diamond investment vehicles for whose accounts the Shares reported herein are held. Mr. Deckoff is the Managing Principal of Black Diamond. Black Diamond and Mr. Deckoff (collectively, the "Continuing Reporting Persons") accordingly may be deemed to be the beneficial owners of all of the Shares reported herein. Upon filing of this Amendment No. 5, BDCM CT will no longer be a Reporting Person on this Schedule 13D.
(d)	None of the Reporting Persons has, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).
(e)	None of the Reporting Persons has, during the last five years, been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and, as a result of such proceeding, was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
(f)	BDCM CT is a Delaware limited liability company. Black Diamond is a U.S. Virgin Islands limited liability limited partnership. Mr. Deckoff is a citizen of the United States of America.
Item 5.	Interest in Securities of the Issuer
(a)	Item 5 of the Schedule 13D is hereby amended and supplemented as follows: As of the date hereof, the Continuing Reporting Persons may be deemed to beneficially own 5,127,165 Shares, or approximately 23.1% of the Shares outstanding. This figure is based upon information in the Company's quarterly report on Form 10-Q, filed August 11, 2025, indicating that, as of August 8, 2025, there were 22,224,186 Shares outstanding.
(b)	The Continuing Reporting Persons may be deemed to share the power to vote or direct the voting of, and the power to dispose or direct the disposition of, the 5,127,165 Shares.
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	Item 6 of the Schedule 13D is hereby amended and supplemented as follows: The response to Item 2(a) of this Amendment No. 5 is incorporated by reference herein.
Item 7.	Material to be Filed as Exhibits.
	Item 7 of the Schedule 13D is hereby amended and supplemented as follows: Exhibit Description Exhibit G: Joint Filing Agreement, dated August 26, 2025

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.

BDCM CT, L.L.C.

Signature:	/s/ Stephen H. Deckoff
Name/Title:	Stephen H. Deckoff, Managing Principal
Date:	08/26/2025

Black Diamond Holdings, LLLP

Signature:	/s/ Stephen H. Deckoff
Name/Title:	Stephen H. Deckoff, Managing Principal
Date:	08/26/2025

Deckoff Stephen H

Signature:	/s/ Stephen H. Deckoff
Name/Title:	Stephen H. Deckoff
Date:	08/26/2025

FAQ

Who filed the Schedule 13D/A for Consumer Portfolio Services, Inc. (CPSS)?

The Schedule 13D/A was filed by BDCM CT, L.L.C., Black Diamond Holdings, LLLP, and Stephen H. Deckoff, with Black Diamond and Mr. Deckoff as the Continuing Reporting Persons.

How many CPSS shares do the reporting persons beneficially own?

The Continuing Reporting Persons may be deemed to beneficially own 5,127,165 shares, or approximately 23.1% of CPSS outstanding shares.

Why was Amendment No. 5 filed?

Amendment No. 5 was filed to report that, effective August 22, 2025, Black Diamond replaced BDCM CT as the primary registered investment adviser exercising investment discretion over the accounts holding the reported shares.

What voting and dispositive powers are reported?

The filing states the Continuing Reporting Persons share voting and dispositive power over the 5,127,165 shares (no sole voting or dispositive power reported).

On what share count is the 23.1% figure based?

The 23.1% calculation is based on the company's reported 22,224,186 shares outstanding as of August 8, 2025, per the company's quarterly report filed August 11, 2025.