ZUANIC & ASSOCIATES

Pablo Zuanic spent over 20 years on Wall Street as a sell-side equity analyst. He covered tobacco, beverages, and consumer staples at J.P. Morgan, Citigroup, and Liberum before joining Cantor Fitzgerald, where he launched the bank's U.S. cannabis sector coverage. His transition to the buy side leveraged relationships with institutional investors who followed his regulatory and licensing analysis of multistate operators.

The firm's mandate spans cannabis, alcohol, and tobacco, viewing them as a unified 'vice industries' universe. Positions often involve pair trades between cannabis multistate operators and traditional sin-stock incumbents, particularly as alcohol and tobacco companies make strategic moves into cannabinoid markets through acquisitions or brand licensing.

All investment ideas are sourced through proprietary, self-produced regulatory and financial analysis. Pablo Zuanic personally authors the research, which tracks state-level license awards, legislative calendars, and balance-sheet stress tests across U.S. cannabis operators. The firm does not rely on sell-side research or third-party data aggregators for its primary ideas.

ZUANIC & ASSOCIATES is structured as an independent asset manager operating a long/short equity hedge fund, not a family office. It is run by founder Pablo Zuanic out of Greenwich, Connecticut, and likely manages external institutional and high-net-worth capital in addition to any personal assets, though its AUM has not been publicly disclosed.

The firm's entire research apparatus is built around regulatory catalyst timing in industries where legality varies by jurisdiction. Unlike generalist funds that may hold cannabis names as a small allocation, Zuanic's approach treats state-level legislative calendars, licensing rounds, and federal rescheduling proceedings as primary inputs to position sizing. This single-sector regulatory focus is uncommon among institutional managers.