Trulieve Cannabis Corp. (OTC: TCNNF) sees Marex disclose 5.81% stake

Rhea-AI Filing Summary

Trulieve Cannabis Corp. reported that Marex Securities Products Inc. and Marex Group plc beneficially own 9,750,000 subordinate voting shares, representing 5.81% of this class as of the reported event.

The Marex entities have sole power to vote and dispose of these 9,750,000 shares, with no shared voting or dispositive power disclosed. They certify that the shares were not acquired and are not held for the purpose or effect of changing or influencing control of Trulieve Cannabis Corp.

Insights

Equity ownership and disclosure analyst

Marex discloses a passive 5.81% stake in Trulieve Cannabis.

The filing shows that Marex Securities Products Inc. and Marex Group plc beneficially own 9,750,000 subordinate voting shares of Trulieve Cannabis Corp., equal to 5.81% of this class as of the 12/16/2025 event date. Both entities report sole voting and sole dispositive power over the same 9,750,000 shares, with no shared authority.

They certify that the position was not acquired, and is not held, to change or influence control of Trulieve, indicating a passive holding under the rules cited. For investors, this mainly signals that a large institutional holder has crossed the 5% reporting threshold, without any stated intent to seek control or governance changes.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Trulieve Cannabis Corp.

(Name of Issuer)

Subordinate Voting Shares, no par value

(Title of Class of Securities)

89788C104

(CUSIP Number)

12/16/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 89788C104

1

Names of Reporting Persons

Marex Securities Products Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 9,750,000.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 9,750,000.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

9,750,000.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.8 %

12

Type of Reporting Person (See Instructions)

CO

SCHEDULE 13G

CUSIP No. 89788C104

1

Names of Reporting Persons

Marex Group plc

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED KINGDOM

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 9,750,000.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 9,750,000.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

9,750,000.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.8 %

12

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Trulieve Cannabis Corp.
(b)	Address of issuer's principal executive offices: 6749 BEN BOSTIC ROAD, QUINCY, FLORIDA, 32351
Item 2.
(a)	Name of person filing: Marex Securities Products, Inc. Marex Group plc
(b)	Address or principal business office or, if none, residence: Marex Securities Products, Inc. 140 East 45th Street, Floor 10 & 11 New York, NY 10017 Marex Group plc 155 Bishopsgate London, X0 EC2M 3TQ
(c)	Citizenship: Marex Securities Products, Inc. Delaware, USA Marex Group plc United Kingdom
(d)	Title of class of securities: Subordinate Voting Shares, no par value
(e)	CUSIP No.: 89788C104
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 9750000
(b)	Percent of class: 5.81 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 9750000
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 9750000
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Marex Securities Products Inc.

Signature:	Jennifer Kaiser
Name/Title:	COO
Date:	12/18/2025

Marex Group plc

Signature:	Scott Linsley
Name/Title:	Corporate Secretary
Date:	12/18/2025

FAQ

What stake in Trulieve Cannabis Corp. (TCNNF) does Marex report holding?

Marex Securities Products Inc. and Marex Group plc report beneficial ownership of 9,750,000 Trulieve Cannabis Corp. subordinate voting shares, representing 5.81% of this class.

What type of Trulieve Cannabis securities does Marex beneficially own?

Marex reports beneficial ownership of Subordinate Voting Shares, no par value of Trulieve Cannabis Corp., identified by CUSIP 89788C104.

Does Marex have sole or shared voting power over its Trulieve Cannabis shares?

The filing states Marex has sole voting power over 9,750,000 shares of Trulieve Cannabis Corp. and no shared voting power.

Does Marex control how the Trulieve Cannabis shares can be sold or transferred?

Yes. Marex reports sole dispositive power over 9,750,000 shares of Trulieve Cannabis Corp., with no shared dispositive power listed.

Is Marex’s Trulieve Cannabis position intended to influence control of the company?

The certification states the securities were not acquired and are not held for the purpose or effect of changing or influencing control of Trulieve Cannabis Corp.

Who signed the Marex beneficial ownership report for Trulieve Cannabis Corp.?

The statement is signed by Jennifer Kaiser, COO, and Scott Linsley, Corporate Secretary, each dated 12/18/2025.