[wcoenen]

It seems the S&P 500 indices only take the free-float shares into account when calculating weights:

S&P DJI’s market cap-weighted indices are float-adjusted – the number of shares outstanding is reduced to exclude closely held shares from the index calculation because such shares are not available to investors.

page 6 of https://www.spglobal.com/spdji/en/documents/methodologies/me...

[Veserv]

Yes, but not the Nasdaq-100 [1] which added the "Fast Entry" rule listed right there in section 2 literally this February because SpaceX is demanding immediate inclusion into the Nasdaq-100 as a condition for listing on the Nasdaq instead of the NYSE.

[1] https://indexes.nasdaqomx.com/docs/NDX_Consultation-February... Section 3

[x-complexity]

> Yes, but not the Nasdaq-100 [1] which added the "Fast Entry" rule listed right there in section 2 literally this February because SpaceX is demanding immediate inclusion into the Nasdaq-100 as a condition for listing on the Nasdaq instead of the NYSE.

...Honestly, Nasdaq's to blame for bending the knee in this case. If they choose to chase that pie, then they alone should be the ones to bear the burden, including any/all reactions from passive investors.

Passive investors should (ideally) switch to another index if they wish to not be involved in this IPO. The decision of how they should invest is theirs, and if they're not happy with this index, they should move to another index: Their money talks louder than any posturing that could ever be put out.