SCHEDULE: Eminence Capital Discloses 9.7% Stake in Verano Holdings

Eminence Capital, LP and Ricky C. Sandler have disclosed a 9.7% beneficial ownership stake in Verano Holdings Corp.'s Class A Subordinate Voting Shares.

Summary

• Eminence Capital, LP and Ricky C. Sandler, collectively referred to as the Reporting Persons, have filed an Amendment No. 1 to Schedule 13G.
• The filing indicates beneficial ownership of 35,046,627 Class A Subordinate Voting Shares of Verano Holdings Corp.
• This ownership represents 9.7% of the Class A Subordinate Voting Shares outstanding.
• The percentage is calculated based on 359,718,318 Class A Shares outstanding as of May 5, 2025, as reported in the Company's Quarterly Report on Form 10-Q filed on May 8, 2025.
• Eminence Capital, LP serves as the management company or investment adviser to various investment funds and a separately managed account (Eminence Funds and SMA) holding these shares.
• Ricky C. Sandler, as Chief Executive Officer of Eminence Capital, may be deemed to have shared voting and dispositive power over these shares.
• The shares were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of the issuer.

Sentiment

Score: 7

Explanation: The disclosure of a significant beneficial ownership stake by a reputable investment firm like Eminence Capital is generally viewed positively by the market, as it signals institutional confidence and potential long-term interest in the company. While the filing itself is factual and neutral, the underlying action it reports carries positive implications for investor sentiment.

Positives

• A significant institutional investor, Eminence Capital, has disclosed a substantial 9.7% stake, indicating confidence in Verano Holdings Corp.

Future Outlook

The filing does not contain any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Industry Context

This filing indicates significant institutional interest in Verano Holdings Corp., a company operating in the cannabis industry. Such disclosures can signal growing investor confidence in the sector or specific companies within it, potentially influencing broader market perception.

Stakeholder Impact

• Shareholders may view the significant stake by Eminence Capital as a positive signal, potentially increasing confidence in the company's stock.
• The disclosure provides transparency regarding major institutional holdings, which is beneficial for market participants.

Key Dates

Keywords

Verano Holdings Corp, Eminence Capital, Ricky C. Sandler, Beneficial Ownership, Schedule 13G, Class A Subordinate Voting Shares, Institutional Investor, Cannabis Industry, Investment Fund