One of the known unknowns in calculating correct holdings percentages is the problem with unlisted shares. A large number of companies have multiple classes of shares - most of these will be listed on stock exchanges but certain classes will not be. Commercial market data vendors including your go to terminal only provide the shares outstanding data on listed classes.

This caused us a fair bit of issue in earlier days of product operation. Routinely we would have holding numbers which had to be re-worked because market data vendors would not supply the total shares outstanding figures.

We had to branch into data and research our own. Now we find the shares outstanding data ourselves to ensure that the results are 100% spot on all the time. Our 24 x 7 Operations team do this, trawling through reports, announcements, and regulatory agency updates.

It is safe to say that this particular point is a major plus for utilising a service such as DisclosureWise™.