As a part of the overall MassMutual umbrella, MassMutual Trust Company provides comprehensive trust and fiduciary services for the firm’s estate management and wealth management clients. With an estimated $1.168 billion USD in managed 13F securities as of recent filings, MassMutual Trust Company’s cannabis-related investments represent just a teeny tiny drop in the bucket.
That said, it is always a bullish signal that institutional money managers and fiduciaries are playing friendly with marijuana stocks. Some firms like BlackRock refuse to clear cannabis related securities, making it difficult for some investors to access the sector. And, shockingly, MassMutual Trust isn’t just holding shares of NYSE-listed and NASDAQ-listed cannabis companies, but also OTC-listed ones as well.
In alphabetical order, here are three small cannabis investments hiding in the MassMutual Trust Company portfolio:
Perhaps the most shocking of the three MassMutual marijuana holdings is its 8,400 shares of Cannabis Science Inc. Now trading at less than a nickel per share, Cannabis Science Inc. is officially delinquent in its reporting to the SEC. Despite that, the company put out a press release as recently as March 15th, 2019 regarding its “iCannabinoid Ambassador’s Program” initiative.
Canopy Growth, one of the largest and most recognizable names in the cannabis investment space, is not surprisingly hidden within the hundreds upon hundreds of MassMutual Trust holdings. With its NYSE listing and constant deal-making, more and more institutions are finding shares of CGC hard to resist. With less than a round lot though, it leaves us wondering why they didn’t buy more.
Cronos Group, which attracted a multi-billion dollar investment from Marlboro-maker Altria Group, Inc. (NYSE:MO), is also one of MassMutual Trust’s small cannabis investments. With shares of Cronos trading up tremendously since the Altria investment was announced, we’ll be watching closely to see how long until the remaining 120 share CRON position lasts.
Regardless of MassMutual Trust Company’s small position sizes in the aforementioned cannabis-related stocks, it is always a major step forward for the sector when institutional investors and money managers are getting involved. Be sure to subscribe to updates here so you never miss an important update.
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