Curaleaf enters FTSE Canada All Cap Index in September review
The addition gives Curaleaf a second Canadian benchmark, but its Sept. 23 release does not quantify any resulting fund purchases.
Theo Marchetti
FTSE Russell added a cannabis operator to its Canada All Cap Index after the Sept. 18 close, with the constituent change in force from Sept. 21, the company announced on Wednesday. Curaleaf Holdings, Inc. TSECURA OTCMKTSCURLF traded at C$16.48 in Toronto at 12:03 p.m. EDT on Wednesday, 0.73 per cent above its Tuesday close.
This is Curaleaf's second major Canadian index inclusion, after its entry into the S&P/TSX Composite in 2025. The new benchmark covers large, mid and small capitalization companies listed in Canada, placing Curaleaf in a benchmark designed for funds that follow Canadian equities. An index-tracking fund can include the stock under its mandate, but the announcement does not say whether such funds purchased shares or how many.
The FTSE Russell review notice scheduled the constituent changes for after the Sept. 18 close, making them effective Sept. 21. Curaleaf announced its addition on Sept. 23, after both dates. The Toronto quote therefore shows the stock's later trading level, rather than its reaction at the rebalance.
Curaleaf sells cannabis products in U.S. medical and adult-use markets and has an international distribution business. Its Aug. 5 results put its operated and managed dispensary footprint at 176 after two Florida openings and reported US$340.1 million of revenue for the quarter ended June 30. The index change does not itself add stores, sales or a cannabis authorization.
FTSE Screens Constituents For Liquidity
FTSE's August index factsheet says the Canada All Cap Index is designed for index-tracking funds, derivatives and performance comparisons. Its stocks are weighted by shares available to investors, and its eligibility rules screen for liquidity. The factsheet counted 209 constituents as of Aug. 31, before the September review.
Curaleaf's Sept. 23 release supplied no index weight, forecast of fund buying or estimate of resulting trading volume. That leaves the size of any passive demand unmeasured in the announcement, even though the benchmark can bring Curaleaf into portfolios that follow it.
"A year ago, we became the first U.S.-based cannabis operator in the S&P/TSX Composite Index. Joining the FTSE Canada All Cap Index now puts Curaleaf in a second major Canadian benchmark," Curaleaf chair and chief executive Boris Jordan said in the announcement.
Curaleaf's September 2025 announcement said its S&P/TSX Composite membership took effect Sept. 22 of that year. The two benchmarks have different administrators, so the new addition extends its index presence without changing its existing S&P membership.
A separate index change reached Trulieve Cannabis Corp. NYSETRLV on Sept. 22. Trulieve said in its own release that it joined the S&P Total Market and Completion indices after it domesticated to the U.S. and listed on the New York Stock Exchange.
Read more: Trulieve added to S&P Total Market and Completion indices after Delaware redomicile
FTSE's next routine semiannual review falls in March 2027 under its published schedule, when index membership and weights are due for another check.
