Cannabis Stocks
Top 4 of 4 MJ holdings, updated
As of 12 October 2026, cannabis stocks are losing ground: still ahead of the S&P 500 over the longer run, but behind over the past month. MJ trails the S&P 500 by 11.3 points over one month and ranks #107 of 115 groups Zensei tracks. 1 of the 3 cannabis stocks Zensei prices in MJ beat the fund this month.
Where cannabis stocks stand now
As of 12 October 2026, Cannabis (MJ) ranks #107 of the 115 groups Zensei tracks by one-month return against the S&P 500, among the market's weakest pockets. It is losing its lead. It built a 2.8-point advantage over the S&P 500 across the longer, time-shifted window, but over the past month it has slipped 11.3 points behind the market — the Cooling quadrant of the rotation map.
On the shorter tape, MJ's momentum is weakening: the intraday trend that carried the move is cooling across the shorter windows. MJ's relative-strength line has broken below its long-term average — the long-term outperformance trend is no longer intact. Both signals point the same direction here: the market is not rewarding this group on either horizon.
The exposure comes via Amplify Alternative Harvest ETF, whose 4 tracked holdings are led by Tilray Brands Inc, Village Farms International Inc and Sndl Inc. Weighted by portfolio, the fund's holdings trade at roughly 15.0× earnings. The thing to watch from here is whether this is a pause or a handoff: cooling groups sometimes reset and reclaim leadership, but a deepening one-month deficit usually means rotation has moved on.
Top cannabis stocks right now
The largest cannabis stocks by weight in MJ, and the strongest over the past month. Size and recent return are measurements, not recommendations.
Largest by fund weight
Share of MJ
- 1Tilray Brands IncTLRY9.9%
- 2Village Farms International IncVFF5.9%
- 3Sndl IncSNDL5.7%
- 4Invesco Shrt-Trm Inv Gov&agcy InstlAGPXX0.5%
Strongest this month
1-month return, holdings Zensei prices
- 1Village Farms International IncVFF−9.0%
- 2Sndl IncSNDL−12.7%
- 3Tilray Brands IncTLRY−16.4%
Cannabis Stocks vs the S&P 500
Over the week to 12 October 2026, MJ fell 5.1% while the S&P 500 rose 0.4%. MJ and SPY (the S&P 500) over every window Zensei tracks. The spread is the difference: positive means MJ won that window.
Prices as of · computed from daily adjusted closes · how we measure
Cannabis on the rotation map, against the 11 broad S&P 500 sectors. Vertical: 1-month spread vs the S&P 500. Horizontal: the longer, time-shifted window.
Are cannabis stocks expensive?
The price-to-earnings ratio of MJ as a whole: the total price of its holdings over their total earnings, weighted by share of the fund. Holdings that lose money are left out.
MJ holdings: the cannabis stocks inside
As of 12 October 2026, 1 of the 3 cannabis stocks Zensei prices in MJ beat the fund over the past month. 0 of them beat the S&P 500. The strongest is Village Farms International Inc (VFF); the weakest is Tilray Brands Inc (TLRY). Inside the fund, one or two outliers drive most of the move.
| # | Holding | Weight | 1M | 3M | vs fund 1M | Momentum | RS health |
|---|---|---|---|---|---|---|---|
| 1 | TLRYTilray Brands Inc | 9.9% | −16.4% | −24.7% | −7.2 pts | Weak | Broken |
| 2 | VFFVillage Farms International Inc | 5.9% | −9.0% | +29.7% | +0.2 pts | Weak | Fading |
| 3 | SNDLSndl Inc | 5.7% | −12.7% | −10.7% | −3.5 pts | Weak | Broken |
| 4 | AGPXXInvesco Shrt-Trm Inv Gov&agcy Instl | 0.5% | — | — | No price data | ||
Cannabis Stocks: common questions
What are the top 3 cannabis stocks?
As of 12 October 2026, the three largest cannabis stocks in MJ by fund weight are Tilray Brands Inc (TLRY) (9.9%), Village Farms International Inc (VFF) (5.9%) and Sndl Inc (SNDL) (5.7%). Fund weight shows size inside the fund, not a recommendation.
Which cannabis stocks are beating the sector?
As of 12 October 2026, 1 of the 3 cannabis stocks Zensei prices in MJ beat the fund over the past month. The strongest over the past month is Village Farms International Inc (VFF). The list above shows every holding with its weight and returns.
Are cannabis stocks outperforming the S&P 500?
No. As of 12 October 2026, MJ trails the S&P 500 by 11.3 points over the past month.
Is it a good time to invest in cannabis stocks?
Zensei does not give investment advice, but it measures the trend. As of 12 October 2026, cannabis stocks are ahead of the S&P 500 over the longer window but behind over the past month, a fading lead. The rotation map and the read on this page show whether that trend is building or fading.
What is MJ?
MJ is Amplify Alternative Harvest ETF. Zensei uses it to measure cannabis stocks against the S&P 500 (SPY).
What stocks does MJ own?
As of 12 October 2026, the largest of the 4 positions Zensei tracks in MJ are Tilray Brands Inc, Village Farms International Inc, Sndl Inc, Invesco Shrt-Trm Inv Gov&agcy Instl. Each position measured against the fund, with momentum and relative strength, is part of Zensei Premium.
What quadrant is cannabis in right now?
As of 12 October 2026, cannabis is in the Cooling quadrant — still ahead over the longer window, but behind the market over the past month. The Zensei methodology page explains the quadrants.
Recent changes
- ·Trailing the market → losing ground
- ·First tracked: trailing the market
Related sectors
Track cannabis against the whole market
Zensei Edge maps 100+ sectors and themes against the S&P 500 — with the stocks inside each one, rotation history and alerts when leadership changes hands.