Canyon Capital Files to Sell 1.3M CBL Shares (~$68M) Acquired in Bankruptcy
CBL sits 78% above its 52-week low of $28.035 on elevated volume (3.1× avg).
Summary
Canyon Capital Advisors, advisor to funds owning >20% of CBL, filed to sell 1.3M shares (~$68M) acquired in the 2021 bankruptcy restructuring — the largest insider sale notice in the recent window.
Key Events · Ownership and Investor Activity · CBL
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Canyon Files to Sell 1.3M Shares
Canyon Capital Advisors LLC, as investment advisor to funds holding >20% of CBL, filed a Form 144 to sell 1,307,500 shares with an approximate market value of $68.2 million.
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Shares Acquired in 2021 Bankruptcy
The shares were acquired on November 2, 2021, as bankruptcy consideration from the issuer, with no cash payment.
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Largest Insider Sale Notice in Window
The block represents about 4.2% of the 30.9 million shares outstanding, far exceeding the prior largest notice — CEO Stephen Lebovitz's 50,000-share sale for $2.64 million in September 2026.
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Fund-Level Breakdown
The sale is attributed across five Canyon funds: Canyon Value Realization Master Fund (524,140 shares), Canyon Value Realization Fund (158,800), Canyon Balanced Master Fund (479,019), Canyon ESG Master Fund (28,741), and Canyon-ASP Fund (116,800).
Analysis · CBL · Real Estate & Construction
A significant block of CBL stock may soon hit the market. Canyon Capital Advisors, investment advisor to funds holding more than 20% of the company, has filed a Form 144 to sell 1,307,500 shares worth approximately $68.2 million. The shares were acquired in November 2021 as bankruptcy consideration. This is the first sale notice from Canyon in the 90-day window and is substantially larger than the officer sales seen recently — the prior largest was CEO Stephen Lebovitz's 50,000-share sale for $2.64 million. The block represents roughly 4.2% of the 30.9 million shares outstanding, so execution would meaningfully increase the float and could pressure the stock. The filing does not indicate whether Canyon intends to sell the full amount or over what timeframe.
How filings like this one have moved
In the 30 days to Oct 6, 2026, 28.9% of the 1573 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.57%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, CBL was trading at $50.00 on NYSE in the Real Estate & Construction sector, with a market capitalization of approximately $1.5B. The 52-week trading range was $28.04 to $60.40. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.