CBL & Associates Properties Inc (CBL) shareholders
CBLNYSEReal Estate Investment TrustsFiscal year ends December 31
Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Nov 9, 2026Score 11/3052% below fair value
$54.61+0.32 (+0.59%)
Close on Nov 13, 2026Market cap $1.69BP/E 11.2Yield –
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
79.6%
25M of 31M shares
Institutional holders
228
54 new, 18 sold out
Net institutional buying
1M
In Q2 2026
Insider trades, 12 months
2 buys · 16 sales
Net sold $122.57M
Shares held by institutions
Holders of more than 5%
Latest Schedule 13D (active) or 13G (passive) filed by each holder
| Holder | Shares | % of class | Filing | As of |
|---|---|---|---|---|
| Mitchell R. Julis Joint filing with Canyon Capital Advisors LLC (24.00%), Joshua S. Friedman (24.00%) | 7,416,294 | 24.00% | 13D (active) amendment | May 22, 2026 |
| OCM Xb CBL-E Holdings, LLC Joint filing with Oaktree Capital Holdings, LLC (8.21%), Oaktree Capital Group Holdings GP, LLC (8.21%) | 2,517,577 | 8.21% | 13G (passive) amendment | Dec 31, 2025 |
| Amster Howard | 2,406,467 | 7.80% | 13D (active) amendment | Aug 27, 2026 |
| BlackRock, Inc. | 1,553,993 | 5.10% | 13G (passive) | Dec 31, 2025 |
| Joshua S. Friedman Joint filing with Canyon Capital Advisors LLC (19.70%), Mitchell R. Julis (19.70%) | 0 | 19.70% | 13D (active) amendment | Oct 6, 2026 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of CBL | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| Canyon Capital Advisors LLC | 7,416,294 | 23.97% | $393.73M | −1,050,000 | 44.64% |
| BlackRock, Inc. | 2,050,037 | 6.63% | $108.84M | +262,415 | 0.00% |
| Vanguard Portfolio Management LLC | 890,529 | 2.88% | $47.28M | +99,077 | 0.00% |
| Vanguard Capital Management LLC | 787,562 | 2.55% | $41.81M | +113,229 | 0.00% |
| State Street Corp | 654,178 | 2.11% | $34.73M | +13,924 | 0.00% |
| Taconic Capital Advisors LP | 598,332 | 1.93% | $31.77M | −10,000 | 14.97% |
| Geode Capital Management, LLC | 570,758 | 1.84% | $30.31M | +77,333 | 0.00% |
| Charles Schwab Investment Management Inc | 453,581 | 1.47% | $24.08M | +111,352 | 0.00% |
| Lsv Asset Management | 452,163 | 1.46% | $24.01M | +375,863 | 0.04% |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | 421,998 | 1.36% | $22.40M | +16,166 | 0.03% |
| Arrowstreet Capital, Limited Partnership | 412,531 | 1.33% | $21.90M | −1,589 | 0.01% |
| Prudential Financial Inc | 387,577 | 1.25% | $20.58M | +272,422 | 0.02% |
| Aqr Capital Management LLC | 365,726 | 1.18% | $19.42M | +41,063 | 0.01% |
| First Manhattan Co. LLC. | 354,379 | 1.15% | $18.81M | −12,000 | 0.05% |
| JPMorgan Chase & Co | 341,247 | 1.10% | $18.18M | +183,569 | 0.00% |
| Renaissance Technologies LLC | 313,827 | 1.01% | $16.66M | −5,367 | 0.02% |
| Marshall Wace, Llp | 305,205 | 0.99% | $16.20M | New | 0.01% |
| Allianz Asset Management GmbH | 284,890 | 0.92% | $11.91M | +25,309 | 0.01% |
| Nuveen, LLC | 252,372 | 0.82% | $13.40M | +192,370 | 0.00% |
| Mackenzie Financial Corp | 251,699 | 0.81% | $13.36M | New | 0.01% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | % of shares | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 228 | 25M | 79.6% | 54 / 96 | 47 / 18 | 5M | 4M |
| Q1 2026 | 196 | 24M | 77.2% | 25 / 88 | 51 / 18 | 3M | 1M |
| Q4 2025 | 191 | 24M | 77.9% | 28 / 76 | 56 / 12 | 1M | 1M |
| Q3 2025 | 178 | 24M | 77.9% | 26 / 62 | 57 / 10 | 2M | 2M |
| Q2 2025 | 163 | 24M | 78.5% | 21 / 52 | 66 / 21 | 1M | 1M |
| Q1 2025 | 164 | 24M | 78.6% | 23 / 53 | 52 / 12 | 2M | 2M |
| Q4 2024 | 155 | 24M | 78.2% | 25 / 57 | 49 / 16 | 2M | 4M |
| Q3 2024 | 146 | 26M | 82.6% | 39 / 37 | 41 / 3 | 3M | 2M |
| Q2 2024 | 112 | 26M | 85.4% | 12 / 38 | 36 / 13 | 1M | 1M |
| Q1 2024 | 115 | 26M | 85.0% | 17 / 31 | 35 / 10 | 1M | 1M |
| Q4 2023 | 110 | 26M | 84.4% | 20 / 41 | 26 / 5 | 1M | 0M |
| Q3 2023 | 96 | 25M | 82.1% | 8 / 32 | 32 / 13 | 0M | 1M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
194 funds held CBL in Q2 2026, 66% of their shares through ETFs. Each fund counts once per quarter, from its quarter-end report.
| Fund | Shares | % of CBL | Value | % of fund | As of |
|---|---|---|---|---|---|
| Vanguard Real Estate Index Fund | 589,375 | 1.90% | $34.60M | 0.05% | Jul 31, 2026 |
| Vanguard Total Stock Market Index Fund | 588,809 | 1.90% | $31.26M | 0.00% | Jun 30, 2026 |
| iShares Russell 2000 ETF | 481,659 | 1.56% | $25.57M | 0.03% | Jun 30, 2026 |
| Global X SuperDividend U.S. ETF | 418,264 | 1.35% | $24.56M | 3.13% | Jul 31, 2026 |
| Fidelity Small Cap Index Fund | 206,361 | 0.67% | $12.12M | 0.04% | Jul 31, 2026 |
| Vanguard Extended Market Index Fund | 181,307 | 0.59% | $9.63M | 0.01% | Jun 30, 2026 |
| iShares Russell 2000 Growth ETF | 175,695 | 0.57% | $9.33M | 0.06% | Jun 30, 2026 |
| Nuveen Quant Small Cap Equity Fund | 165,820 | 0.54% | $9.74M | 0.24% | Jul 31, 2026 |
| Pacer US Small Cap Cash Cows 100 ETF | 132,499 | 0.43% | $7.78M | 0.21% | Jul 31, 2026 |
| First Trust Small Cap Growth AlphaDEX Fund | 132,238 | 0.43% | $7.76M | 0.60% | Jul 31, 2026 |
| Schwab Small-Cap Equity Fund | 117,917 | 0.38% | $6.92M | 1.05% | Jul 31, 2026 |
| Schwab U.S. REIT ETF | 108,896 | 0.35% | $5.24M | 0.05% | May 31, 2026 |
| Vanguard Real Estate Ii Index Fund | 103,487 | 0.33% | $6.08M | 0.06% | Jul 31, 2026 |
| Vanguard Russell 2000 Index Fund | 93,755 | 0.30% | $4.51M | 0.03% | May 31, 2026 |
| Dfa Real Estate Securities Portfolio | 83,810 | 0.27% | $4.92M | 0.07% | Jul 31, 2026 |
Officers, directors and major owners
People who filed Forms 3, 4 or 5 in the last two years
| Name | Role | Shares owned | % of shares | Latest filing |
|---|---|---|---|---|
| Stephen D. Lebovitz | CEO, Director | 507,288 | 1.64% | Sep 17, 2026 |
| Jennifer Cope | EVP Ops Services & Risk Mgmt | 24,009 | 0.08% | Sep 25, 2026 |
| Joseph Khalili | EVP Financial Planning & Anlys | 23,948 | 0.08% | Sep 23, 2026 |
| Jeffery V. Curry | Chief Legal Officer & Sec. | 143,018 | 0.46% | Sep 10, 2026 |
| Benjamin W. Jaenicke | EVP - Chief Financial Officer | 128,639 | 0.42% | Sep 3, 2026 |
| Kathryn A. Reinsmidt | EVP - Chief Operating Officer | 138,539 | 0.45% | Aug 20, 2026 |
| Howard B. Grody | Exec VP-Leasing | 76,331 | 0.25% | Jun 22, 2026 |
| Andrew Franklin Cobb | Exec VP-Accounting | 59,673 | 0.19% | May 18, 2026 |
| Michael I. Lebovitz | President | 110,848 | 0.36% | Feb 18, 2026 |
| Alan L. Lebovitz | Executive VP - Management | 86,414 | 0.28% | Feb 13, 2026 |
| David Michael Fields | Director | 18,522 | 0.06% | Jun 9, 2026 |
| David J. Contis | Director | 117,170 | 0.38% | Feb 13, 2026 |
| Michael A. Torres | Director | 16,578 | 0.05% | Dec 17, 2025 |
| Marjorie L. Bowen | Director | 33,440 | 0.11% | Dec 17, 2025 |
| Robert G. Gifford | Director | 20,754 | 0.07% | Dec 17, 2025 |
| Jeffrey Kivitz | Director | 17,606 | 0.06% | Dec 17, 2025 |
| Mitchell R. Julis | – | 7,416,294 | 23.97% | Oct 8, 2026 |
| Capital Advisors Llc Canyon | – | 6,108,794 | 19.74% | Oct 8, 2026 |
| Joshua S. Friedman | – | 8,396,293 | 27.13% | Oct 8, 2026 |
| Oaktree Capital Holdings, LLC | 10% owner | – | – | Dec 9, 2024 |
| Oaktree Capital Group Holdings GP, LLC | 10% owner | 398,396 | 1.29% | Dec 9, 2024 |
| OCM Xb CBL-E Holdings, LLC | 10% owner | 2,983,967 | 9.64% | Dec 9, 2024 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| Capital Advisors Llc Canyon – | Oct 6, 2026 | Sale | −1,307,500 | $52.19 | $68.24M | 6,108,794 |
| Jennifer Cope EVP Ops Services & Risk Mgmt | Sep 24, 2026 | Sale | −6,763 | $52.00 | $351.68K | 24,009 |
| Joseph Khalili EVP Financial Planning & Anlys | Sep 22, 2026 | Sale | −6,763 | $54.21 | $366.62K | 23,948 |
| Stephen D. Lebovitz CEO, Director | Sep 16, 2026 | Sale | −6,867 | $53.47 | $367.18K | 507,019 |
| Stephen D. Lebovitz CEO, Director | Sep 16, 2026 | Sale | −43,133 | $52.73 | $2.27M | 513,886 |
| Jeffery V. Curry Chief Legal Officer & Sec. | Sep 9, 2026 | Gift | −1,800 | – | – | 143,018 |
| Jeffery V. Curry Chief Legal Officer & Sec. | Sep 3, 2026 | Sale | −681 | $55.10 | $37.52K | 144,818 |
| Benjamin W. Jaenicke EVP - Chief Financial Officer | Sep 1, 2026 | Tax withholding | −1,968 | $54.37 | $107.00K | 128,639 |
| Kathryn A. Reinsmidt EVP - Chief Operating Officer | Aug 18, 2026 | Sale | −17,515 | $57.10 | $1.00M | 138,539 |
| Howard B. Grody Exec VP-Leasing | Jun 18, 2026 | Sale | −1,000 | $47.92 | $47.92K | 76,311 |
| Howard B. Grody Exec VP-Leasing | Jun 18, 2026 | Sale | −4,728 | $48.06 | $227.23K | 77,311 |
| David Michael Fields Director | Jun 5, 2026 | Sale | −3,592 | $47.97 | $172.31K | 18,522 |
| Benjamin W. Jaenicke EVP - Chief Financial Officer | Jun 2, 2026 | Sale | −5,974 | $48.45 | $289.44K | 131,133 |
| Benjamin W. Jaenicke EVP - Chief Financial Officer | Jun 2, 2026 | Sale | −526 | $48.57 | $25.55K | 130,607 |
| Mitchell R. Julis – | May 22, 2026 | Sale | −1,050,000 | $46.44 | $48.76M | 7,416,294 |
| Andrew Franklin Cobb Exec VP-Accounting | May 14, 2026 | Sale | −8,099 | $45.80 | $370.93K | 59,673 |
| Andrew Franklin Cobb Exec VP-Accounting | May 14, 2026 | Sale | −51 | $46.31 | $2.36K | 59,622 |
| Jeffery V. Curry Chief Legal Officer & Sec. | Apr 8, 2026 | Gift | −2,476 | – | – | 145,499 |
| Jeffery V. Curry Chief Legal Officer & Sec. | Apr 6, 2026 | Gift | −3,000 | – | – | 147,975 |
| Kathryn A. Reinsmidt EVP - Chief Operating Officer | Feb 17, 2026 | Tax withholding | −1,146 | $35.59 | $40.79K | 157,569 |
| Kathryn A. Reinsmidt EVP - Chief Operating Officer | Feb 17, 2026 | Tax withholding | −1,515 | $36.13 | $54.74K | 156,054 |
| Andrew Franklin Cobb Exec VP-Accounting | Feb 17, 2026 | Tax withholding | −471 | $36.13 | $17.02K | 67,772 |
| Andrew Franklin Cobb Exec VP-Accounting | Feb 17, 2026 | Tax withholding | −409 | $35.59 | $14.56K | 68,243 |
| Michael I. Lebovitz President | Feb 17, 2026 | Tax withholding | −1,515 | $36.13 | $54.74K | 110,542 |
| Michael I. Lebovitz President | Feb 17, 2026 | Tax withholding | −1,146 | $35.59 | $40.79K | 112,057 |
| Joseph Khalili EVP Financial Planning & Anlys | Feb 17, 2026 | Tax withholding | −216 | $35.59 | $7.69K | 30,899 |
| Joseph Khalili EVP Financial Planning & Anlys | Feb 17, 2026 | Tax withholding | −188 | $36.13 | $6.79K | 30,711 |
| Stephen D. Lebovitz CEO, Director | Feb 17, 2026 | Tax withholding | −3,634 | $36.13 | $131.30K | 557,019 |
| Stephen D. Lebovitz CEO, Director | Feb 17, 2026 | Tax withholding | −1,985 | $35.59 | $70.65K | 560,653 |
| Jennifer Cope EVP Ops Services & Risk Mgmt | Feb 17, 2026 | Tax withholding | −216 | $35.59 | $7.69K | 30,960 |
| Jennifer Cope EVP Ops Services & Risk Mgmt | Feb 17, 2026 | Tax withholding | −188 | $36.13 | $6.79K | 30,772 |
| Benjamin W. Jaenicke EVP - Chief Financial Officer | Feb 17, 2026 | Tax withholding | −2,191 | $35.59 | $77.98K | 140,528 |
| Benjamin W. Jaenicke EVP - Chief Financial Officer | Feb 17, 2026 | Tax withholding | −3,421 | $36.13 | $123.60K | 137,107 |
| Howard B. Grody Exec VP-Leasing | Feb 17, 2026 | Tax withholding | −409 | $35.59 | $14.56K | 82,510 |
| Howard B. Grody Exec VP-Leasing | Feb 17, 2026 | Tax withholding | −471 | $36.13 | $17.02K | 82,039 |
| Jeffery V. Curry Chief Legal Officer & Sec. | Feb 17, 2026 | Tax withholding | −1,146 | $35.59 | $40.79K | 152,490 |
| Jeffery V. Curry Chief Legal Officer & Sec. | Feb 17, 2026 | Tax withholding | −1,515 | $36.13 | $54.74K | 150,975 |
| Stephen D. Lebovitz CEO, Director | Feb 11, 2026 | Award | +103,271 | – | – | 485,715 |
| Stephen D. Lebovitz CEO, Director | Feb 11, 2026 | Award | +126,832 | – | – | 612,547 |
| Stephen D. Lebovitz CEO, Director | Feb 11, 2026 | Tax withholding | −49,909 | $36.05 | $1.80M | 562,638 |
| Stephen D. Lebovitz CEO, Director | Feb 11, 2026 | Award | +12,955 | – | – | 382,444 |
| Stephen D. Lebovitz CEO, Director | Feb 11, 2026 | Tax withholding | −2,755 | $36.55 | $100.70K | 369,489 |
| Alan L. Lebovitz Executive VP - Management | Feb 11, 2026 | Award | +10,571 | – | – | 86,125 |
| Alan L. Lebovitz Executive VP - Management | Feb 11, 2026 | Award | +21,605 | – | – | 75,554 |
| Alan L. Lebovitz Executive VP - Management | Feb 11, 2026 | Award | +4,310 | – | – | 53,949 |
| Joseph Khalili EVP Financial Planning & Anlys | Feb 11, 2026 | Award | +8,644 | – | – | 28,101 |
| Joseph Khalili EVP Financial Planning & Anlys | Feb 11, 2026 | Award | +4,228 | – | – | 32,329 |
| Joseph Khalili EVP Financial Planning & Anlys | Feb 11, 2026 | Tax withholding | −1,214 | $36.05 | $43.76K | 31,115 |
| Joseph Khalili EVP Financial Planning & Anlys | Feb 11, 2026 | Award | +2,279 | – | – | 19,457 |
| Joseph Khalili EVP Financial Planning & Anlys | Feb 11, 2026 | Tax withholding | −263 | $36.55 | $9.61K | 17,178 |
| Jennifer Cope EVP Ops Services & Risk Mgmt | Feb 11, 2026 | Tax withholding | −1,215 | $36.05 | $43.80K | 31,176 |
| Jennifer Cope EVP Ops Services & Risk Mgmt | Feb 11, 2026 | Tax withholding | −263 | $36.55 | $9.61K | 17,240 |
| Jennifer Cope EVP Ops Services & Risk Mgmt | Feb 11, 2026 | Award | +2,279 | – | – | 19,519 |
| Jennifer Cope EVP Ops Services & Risk Mgmt | Feb 11, 2026 | Award | +8,644 | – | – | 28,163 |
| Jennifer Cope EVP Ops Services & Risk Mgmt | Feb 11, 2026 | Award | +4,228 | – | – | 32,391 |
| Benjamin W. Jaenicke EVP - Chief Financial Officer | Feb 11, 2026 | Award | +14,293 | – | – | 64,941 |
| Benjamin W. Jaenicke EVP - Chief Financial Officer | Feb 11, 2026 | Award | +77,778 | – | – | 142,719 |
| Benjamin W. Jaenicke EVP - Chief Financial Officer | Feb 11, 2026 | Tax withholding | −1,982 | $36.55 | $72.44K | 50,648 |
| Andrew Franklin Cobb Exec VP-Accounting | Feb 11, 2026 | Award | +21,605 | – | – | 62,336 |
| Andrew Franklin Cobb Exec VP-Accounting | Feb 11, 2026 | Award | +10,571 | – | – | 72,907 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.
Short interest
Shares sold short and not yet bought back, as of Oct 30, 2026 (FINRA, reported twice a month)
Short % of float
3.72%
1M shares short
Days to cover
5.6
At 0M shares a day
Change since last report
-11.2%
From 1M shares
Short volume, 20 days
36.9%
Of volume reported to FINRA
Shares sold short, last 12 months
Short sale volume counts trades marked short on any given day, including market-maker hedging, so it runs far higher than the share of CBL & Associates Properties's stock actually held short. Settlement fails (shares not delivered on time) peaked at 439 shares on Sep 8, 2026 over the last 90 days.
Planned insider sales
Notices of proposed sale filed on Form 144 before shares are sold
| Seller | Filed | Shares | Market value | Planned sale | Acquired through |
|---|---|---|---|---|---|
| Capital Advisors Llc Canyon IA to Funds Owning > 20% of Stock | Oct 6, 2026 | 1,307,500 | $68.24M | Oct 6, 2026 | Bankruptcy Restructure |
| Jennifer Cope Officer | Sep 24, 2026 | 6,763 | $364.32K | Sep 24, 2026 | 1,891 shares were acquired on the date indicated through an equity award of restricted stock under the Issuer's registered 2021 Equity Incentive Plan. |
| Joseph Khalili Officer | Sep 22, 2026 | 6,763 | $364.32K | Sep 22, 2026 | 944 shares were acquired on the date indicated through an equity award of restricted stock under the Issuer's registered 2021 Equity Incentive Plan. |
| Stephen D. Lebovitz Officer, Director | Sep 16, 2026 | 50,000 | $2.72M | Sep 16, 2026 | 50,000 shares were acquired through an equity award of performance stock units on the date indicated under the Issuer's registered 2021 Equity Incentive Plan. |
| Kathryn A. Reinsmidt Officer | Aug 18, 2026 | 17,515 | $1.02M | Aug 18, 2026 | 3,448 shares were acquired on the date indicated through an equity award under the Issuer's registered 2021 Equity Incentive Plan. |
| Howard B. Grody Officer | Jun 18, 2026 | 5,728 | $275.75K | Jun 18, 2026 | 4,728 shares were acquired on the date indicated through an equity award under the Issuer's registered 2021 Equity Incentive Plan. |
| David Michael Fields Director | Jun 5, 2026 | 3,592 | $170.55K | Jun 5, 2026 | 187 shares were acquired on the date indicated through an equity award under the Issuer's registered 2021 Equity Incentive Plan. |
| Benjamin W. Jaenicke Officer | Jun 2, 2026 | 6,500 | $314.34K | Jun 2, 2026 | 5,364 shares were acquired on the date indicated through an equity award under the Issuer's registered 2021 Equity Incentive Plan. |
| Capital Advisors Llc Canyon IA to Funds Owning > 25% of Stock | May 22, 2026 | 1,050,000 | $48.76M | May 22, 2026 | Bankruptcy Restructure |
| Andrew Franklin Cobb Officer | May 14, 2026 | 8,150 | $379.55K | May 14, 2026 | 4,217 shares were acquired on the date indicated through equity awards under the Issuer's registered 2021 Equity Incentive Plan |
| Andrew Franklin Cobb Officer | Oct 9, 2025 | 7,368 | $214.85K | Oct 9, 2025 | 156 shares are New Common Stock received on 11/1/2021 under the Issuer's Chapter 11 reorganization, in exchange for old Common Stock acquired through multiple DRIP reinvestments and vesting of equity |
| Jeffery V. Curry Officer | Sep 22, 2025 | 5,000 | $151.75K | Sep 22, 2025 | 235 shares are new Common Stock received on 11/1/2021 under the Issuer's Chapter 11 reorganization, in exchange for old Common Stock acquired through multiple DRIP reinvestments and vesting of equity |
| Benjamin W. Jaenicke Officer | Aug 27, 2025 | 5,000 | $155.75K | Aug 27, 2025 | 5,000 shares were acquired on the date indicated through an equity award under the Issuer's registered 2021 Equity Incentive Plan. |
| David J. Contis Director | Mar 7, 2025 | 5,215 | $156.61K | Mar 7, 2025 | 5,215 shares were acquired on the date indicated through a director equity award under the Issuer's registered 2021 Equity Incentive Plan. |
| Andrew Franklin Cobb Exec. VP-Accounting | Jan 10, 2025 | 6,800 | $200.46K | Jan 10, 2025 | 4,728 shares were acquired on the date indicated through an equity award under the Issuer's registered 2021 Equity Incentive Plan. |
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