In a recent Form 13F-HR filed with the U.S. Securities and Exchange Commission, Arkansas-based Horrell Capital Management, Inc. disclosed that it bought a stake in U.S.-focused cannabis operator iAnthus Capital Holdings, Inc. (CSE:IAN) (OTC:ITHUF).
According to Bloomberg, “Horrell Capital Management, Inc. is an employee owned investment manager. The firm provides its services to individuals, high net worth individuals, banking or thrift institutions, pension and profit sharing plans, trusts, estates, charitable organizations, corporations, and state or municipal government entities.”
With an estimated $266,958,269 in discretionary assets under management as of a recent Form ADV, Horrell Capital Management’s purchase of 1,400 shares of iAnthus amounts to less than a drop in the bucket for the firm.
iAnthus Capital Holdings, Inc. owns and operates best-in-class licensed cannabis cultivation, processing and dispensary facilities throughout the United States, providing investors diversified exposure to the U.S. regulated cannabis industry.
Founded by entrepreneurs with decades of experience in operations, investment banking, corporate finance, law and healthcare services, iAnthus provides a unique combination of capital and hands-on operating and management expertise.
iAnthus mainly focuses on opportunities that have high barriers to entry that will result in favorable returns to their shareholders. Essentially, that means iAnthus looks for operations in states with a large addressable cannabis market size, favorable state program cannabis regulations including vertical integration, diverse product offering and home delivery, and a limited number of cannabis licenses available.
With core operations in Massachusetts, New York, Florida, and Vermont, iAnthus is establishing a stronghold on the East Coast while forming strategic partnerships in West Coast states like Colorado and New Mexico.
Regardless of Horrell Capital Management’s position size in iAnthus, it is always a good signal that institutional investors and money managers are getting interested in cannabis investments.
We’ll continue to monitor 13F filings to see what institutional investors are up to. In the meantime, be sure to subscribe to Cannabis Stock Updates here so you never miss an important update.
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