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GLOBAL DATA
FLOAT METHODOLOGY
WHAT IS FLOAT
- Float is the number of shares outstanding available
to the public.
HOW IS FLOAT CALCULATED
- Shares outstanding – Stagnant shareholders = shares
available to the public (float).
REMOVED FROM FLOAT (FLOAT Y) – WHAT BLOOMBERG CLASSIFIES AS STAGNANT SHAREHOLDERS
Private Equity
An investment entity seeks strategic entrances and exits and
has a majority of revenue derived from long term investments
in private companies. This investment is used to fund growth,
research, and/or bolster the financial health of the company.
Private equity firms also aim to have a board seat or executives
in key influential positions.
Venture Capital
An investment entity that provides financial capital and support
to early stage companies with high growth potential. Similar
to private equity firms, venture capital firms have long term
investments, and most of which won’t sell until the harvest
period (IPO/buyout).
Corporation
Legal entities owned by shareholders that do not actively
manage money. If corporations own stock in another public
company, it is usually the result of a corporate partnership,
which results in long term relationships.
Holding Company
An entity that acts as a parent company to many subsidiaries.
Holding companies typically don’t produce any goods or
services themselves, and do not typically stray away from
specific long term investments.
401(k)
A company’s retirement plan so long as third parties
(Blackrock, Vanguard, etc.) are not invested.
Stock Ownership Plan
A stock ownership plan for employees through ESOP or
ERISA. Plans allow employees to obtain stock through options,
profit sharing, and bonuses. These relationships are typically
long-term, as it is beneficial for the employee to remain
employed to receive these benefits after vesting periods.
Estate
A person’s ownership at time of death.
A Bloomberg Professional Service Offering
WHY IS FLOAT IMPORTANT
- Shows how many shares are actually being traded versus
what is in shares outstanding.
-M  arket sentiment if more or less stagnant shareholders
are buying/selling the stock.
- Shows liquidity of a certain stock.
Foundation
Private, non-profit, and tax-free organizations that collect and
distribute money for charitable purposes. Foundations are
created for the greater good and are more conservative with
their investments.
Trust
A fiduciary arrangement that allows a third party, or trustee,
to hold assets on behalf of a beneficiary or beneficiaries.
Family Trust
Similar to a Trust, but held specifically by a group of
family members.
Government
The agencies or individuals that control a nation or state.
Central Bank
A sovereign nation’s central banking system that creates
stability through use of monetary policy, and only intervene
when necessary to promote stability.
Government Corporation
Created for public good to ensure that a monopoly
is not established.
Individuals
Any individual filer (person) is considered a stagnant
shareholder and is removed from float.
Insiders
Named executives or board members of the issuer. They are
stagnant holders since their incentives their incentives are
aligned with the company and its performance.
Management Interlocks
Investing companies who have an executive or director who is
also an executive or director in the issuer being invested in.
We can assume that the investing company has a vested
interest in the issuer, because they have someone on the inside.
FREE FLOAT (FLOAT N) – WHAT BLOOMBERG CLASSIFIES AS ACTIVELY TRADING INSTITUTIONS.
Government – Sovereign Wealth Fund
Sovereign Wealth Funds are active money managers, and try
to diversify and hedge risk of certain commodities or exports. buyers to sellers and make profits based on the trades placed.
Hedge Fund Manager
Established as a private placement investment partnership,
open to limited number of investors and require large initial Unclassified
investments. Hedge funds have flexibility in investment
strategy, and try to achieve an alpha or absolute return by
actively managing money for their clients.
Insurance Company
A company in which a majority of the revenue is derived from
providing insurance services. These are very strictly based on
the region. Japanese insurance companies are considered
stagnant holders.
Pension Fund
Pensions funds are established by employers to provide
retirement income. The common asset pool is generally
managed by other investment advisors and firms to generate
stable growth over the long term.
Investment Advisor
An investment entity that manages an investor’s assets
in return for a fee. This service includes investment
recommendations, securities analysis, and management.
These are entities that are created to manage assets, since
these entities actively manage positions.
Brokerage
Brokerages facilitate the trading of securities by connecting
Brokerages constantly buy and sell securities and as a result
are not stagnant holders.
Bloomberg is unable to ascertain enough information
needed to accurately classify an entity, and as a result,
is not considered to be a stagnant shareholder.
Bank
Institutions where the majority of revenue is derived from banking
services. Banks have many positions, some of which are long
term and many of which are short term. Unfortunately, Bloomberg
is unable to determine which positions fall into either category,
so all positions held will be part of float.
Endowment
Actively trading investment vehicles used by schools,
colleges, and universities to obtain an alpha, and support
the organization for which it was created.
RULE EXCEPTIONS
Thresholds
- If any shareholder owns over 25% of the issuer we
considered them stagnant shareholders.
- Any individual person is considered a stagnant shareholder.

LEARN MORE
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