Welcome back to the channel everyone today, i want to clear up the confusion of exactly how many shares are held by retail investors. I also want to talk about whether adam aaron just exposed synthetic shares so stay tuned and let's make some money, and now i'm gon na dive straight in with the key information. So throughout this entire video, especially towards the end of the video. I want you to bear in mind the one important thing and that is to pay close attention to the specific words and specific lingo that adam aaron used during the earnings call.

We obviously need to differentiate between index funds, mutual funds, etfs institutions as a whole, retail investors inside investors and many many other forms of shareholding, but also we need to bear in mind what kind of shares are actually being counted. Is it the float? Is it the shortage shares? Are there any synthetics included and much much more? So, let's dive in with the different terminologies and talk about exactly how many shares are held by different groups of investors and where that proof actually comes from so right at the very top. Here we have institutions as a whole. This is a very large umbrella bracket that includes every single form of institutional shareholder, whether it's an etf, an index fund, a mutual fund, a hedge fund, a private equity fund, just a regular bank, everyone all together now from fintel.

We can see that the total institutional shareholding is 187.9 million shares or 36.57 percent of the flow. Now, if we go back on over to the whiteboard, we can see that institutional holdings breaks down into many different subgroups, but at the top here we've also got a separate subgroup, which is separate from institutions which is insider shareholdings again. If we head on back over to fintel, we can see that insiders hold 23.6 million shares, which is 4.6 of the flow, and therefore total institutions, which is all groups of institutional shareholders and insiders collectively own around 40 percent of the flow. They may say tom, adam aaron just said the retail investors hold 90 percent of the float and therefore there are clearly synthetics involved.

While i do agree with you, i want to break down the numbers exactly and explain how it's not, as you might first seem. So if we head on back over to the whiteboard, we can see the institutions breaks down into two main subgroups, there's funds which is different types of inactive or passive funds, and we also have hedge funds, which is more of an actively managed fund. If we head on over to morningstar, we can see that the funds, which is those more inactive funds, hold 81.1 million shares. If we look at the institutions, 98.29 million shares.

Now those institutions are our large hedge funds like vanguard, state street geode, capital management, northern trust and many more now. The funds which is those inactive, passive investments is those index funds. You can see here, idx and also those etfs, but first, let's take the total of those two subgroups, the 81.1 million and also the 98.2 million now obviously, 81 million and 98 million gives you a total of 179 million shares. Obviously, that is shy of the 187.9 million shares held by the total institutions, but i think it's important to remember.

The morningstar only shows you the top 20 mutual index funds and also the top 20 hedge funds. If we head back over to morningstar, we can see the 98.2 million is only the total for the top 20. there's. Obviously, no hedge funds that hold any less than 800 000 shares included within this count.

Again, if we pit back over to the funds tab, those 81.1 million shares are being held by the top 20 funds and therefore there's no index funds or etfs that hold less than 900 000 shares included in this total, and this is the differentiation between the sum Of the funds and the hedges of 179 million shares, obviously the total for the total institutions is 187.9 million shares. Therefore, we've got 8.9 million shares which are held by the smaller funds and the smaller hedges outside that top 20.. Now again, the funds terminology of 81 million shares breaks down into etfs and also into mutual and index funds for etfs, there's, 38.2 million shares held and for mutual or index funds. There's 61 million shares.

Now this information comes courtesy of corey where he went through and printed out all of the individual mutual index fund holdings and also all of the individual etf holdings and total the two different groups we can see here the total amount of shares held by mutual and Index funds is 61 million shares and again, if i scroll down here to etf.com, the total etf shares is 38.2 million shares. Therefore, the 38.2 and 61 million shares gives you about 99 million shares. You may say tom hang on: in the top 20, there was only 81 million shares held by funds, and this is because the fund's total of 81 million shares that we already know is too low is because this total of 81 million shares only includes those funds. In the top 20 and doesn't include every single mutual index or etf okay, so now we go back over to that all-important wording used by adam aaron.

He said if you include indexed funds who have no choice but to hold and own amc shares. Individual retail investors would seem to own more than 90 of our officially issued 516 million shares as of today. So, let's head over to the other whiteboard and talk through all of those different figures and exactly how they make sense. So i've used an assumption here where adam aaron says retail investors excluding index funds, i'm assuming he means retail investors excluding mutual index funds which, from our other whiteboard, was this 61 million shares.

Now, maybe he meant etfs. Maybe he meant the total funds. Maybe he meant the hedges, or maybe he meant the total institutions of 187.9 million shares, but when i've gone through the numbers, i think this 61 million shares of mutual and index funds is the only figure that really makes sense guys if you're getting a little bit Worried holding your amc, infidelity or an e-trade due to recent glitches and the fact that fidelity actually supports short sellers moomoo recently posted on their official us youtube channel, saying that moomoo and futu does not accept payment for order flow, and therefore you don't have to worry About your trades, going through sketchy, dark pools or being given to citadel. If you sign up to moomoo using the link in the description below and make your first deposit, you can currently get up to five free shares, valued up to three thousand five hundred dollars each.

That's a total of up to seventeen thousand five hundred dollars in free stocks. Just for signing up to moomoo also has tons of technical indicators and advanced charting tools, moomi publishes daily short selling information position, cost distribution and much much more and on top of that, mumu is also entirely commission, free, so guys be sure to sign up to moomoo Using the link in the description below and make your first deposit, so i think if we take the float of 513 or 516 million shares and exclude index funds because they have no choice but to hold amc. We take 513 or 516 million shares less than 61 million shares from the other. Tab gives us 452 million shares available to be held.

Adam aaron, says of that 452, which is the flow excluding the index funds. Retail investors hold 90 percent of those shares, which is 406.8 million shares. If we take the 406.8 million shares held by retail investors, add the total shares held by all of the institutions, not just the index funds, not just the etfs, but also including those hedge funds. As well of 187.9 million shares and include the 23.6 million shares on top of that held by insiders, you get 618.3 million shares.

Now you may say tom there's only 513 million shares in the float. How can there be 618 million shares that proves once and for all that there are synthetic shares? It's only a hundred million, but at least that's better than nothing right, and i don't quite think it's that easy. Obviously, you have to take the float of 513 million shares, but then you actually have to add on top or double count, all of the short interest, which is 20.5 percent of the flow. Now.

I think the reason why you have to do this is because you have to think of how shorting shares actually works. You have share number one which is held by retail investor number, one, let's call them tom. A hedge fund comes along and says right. I want to legally short some shares, so i have to borrow tom's share and then i have to sell that share in the open market in order to open my short position, they sell that share to retail investor number two.

Let's just call them john and therefore that share number one is still held by the retail investor number one tom over in my retail brokerage account on free trade, but that exact same share is also held by john in his brokerage account over on weeble, for example, Or maybe it's momo and therefore that one same share is reappearing in two separate locations on free trade and in moomoo. And therefore, even though it's only one share, you have to double count it because it's being held by two separate people, because that share has been shorted for every single share. That's been shorted. You therefore need to double count it considering those twenty point.

Five percent short interest: you have to double count: 20.5 percent of the shares in the overall flow. So, if you take, the float of 513 million shares, add on the additional double counted 20.5 of the float. That gives you a total of 618.6 million shares and that is the exact same number of shares, give or take a few hundred thousand held by the retail investors, plus the institutions and plus the insiders. But, as i said right at the very start of this video, the most important part of all of this here is the wording.

Adam aaron said retail likely owns more than 90 of our legally issued flow. I have the text right here. It says individual retail investors would seem to own more than 90 of our officially issued 516 million shares as of today, and therefore adam aaron is only talking about retail investors. Holding 90 of the officially issued flow, adam aaron, doesn't say how many synthetics retail investors are actually holding adam aaron doesn't say how many shares of the total float.

Retail investors are actually holding adam aaron only says the retail investors are holding 90 of the officially issued flow, and therefore we can't use this data provided to us by adam aaron of retail, holding over 90 of the float in order to calculate the number of synthetic Shares because adam aaron hasn't included synthetic shares in his calculation and adam aaron, said immediately after our shareholders asked me every day on twitter to speculate about their theories on the trading of amc stock, as well as on natural or unnatural pressures on it. Exactly as we said last july, we have no reliable information on naked shorting. That doesn't mean the information isn't out there. It means adam aaron doesn't have access or doesn't have privy to that information.

He says: we've no reliable information on naked shorting or so-called fake shares or so-called synthetic shares. So, even as we are well aware of your thoughts, so even as adam aaron is well aware that there may well be synthetic shares legally, we are simply unable to make any further public commentary on these topics. This is because not only can legally adam aaron not talk about the speculation of synthetic shares, adam aaron doesn't know how many synthetic shares are actually out there citadel doesn't exactly publish the number of illegal shares. They've created ken griffin doesn't call up adam aaron.

At the end of the day and say adam my boy, i've created an extra 50 million fake synthetic shares of amc stock. How do you like them? Apples that would quite literally be ken griffin, exposing and completely admitting to the creation of illegal synthetic shares directly to the ceo of amc, and this is why adam aaron doesn't have access to that information and isn't privy to the number of synthetic shares. Actually, an issue, and therefore adam aaron could only ever speculate on the true number of synthetic shares and therefore he can't say with a hundred percent certainty exactly how many synthetics are actually out there. Adam aaron also doesn't have a direct link to the nasdaq and every single trading platform around the world.

He can't just log on and see exactly how many shares are being held by every single individual brokerage account on the entire planet. Technically, the only people that do have access to this individual pieces of information are the individual brokerages having access to their individual brokerage accounts, there's technically. Nobody that has access to see all of the individual shares being held in every single brokerage account around the world. All at the same time, even the nasdaq as a platform doesn't have access to see every single brokerage account across the world and see how many shares are in each brokerage account again.

The nasdaq is just a platform that facilitates trading effectively between two people, adam aaron. Doesn't say exactly how many shares are out there and exactly how many synthetics are held by retail investors, because adam aaron doesn't have that knowledge guys be sure to. Let me know down in the comments below what you think about adam aaron. Exposing synthetic shares by saying, even though we're aware of your thoughts legally, we can't make any further comments on these topics and, as always guys, if you enjoyed this video, be sure to check out some of my others.

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