I was researching the difference between total outstanding shares vs float, and apparently most companies do not exclude instituional shares from float because they are traded on exchanges as well. My example is Apple, which despite having 57.59% institutionally owned shares its float is 15.31b of its 15.33b shares. What I don’t understand, however, is how it says 5.22% of shares are owned by insiders, which I thought was not included in public float calculation. However the float is 99.8%, not 94.78% or whatever; so clearly at least the vast majority of these shares are counted. Is it only certain restricted shares that are not counted? Also the only article I could really find on this on titan.com said some companies calculate institutional shares as part of public float, some don’t. Are there any examples of some that don’t? Thanks in advance.
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