Public Float
Also known as: Float, Free Float
Public float is the portion of a company’s shares that is freely available for trading by the public, excluding restricted and insider-held stock.
Public float is the number of a company’s shares that are actually available for public trading. It excludes shares locked up by insiders, founders, and other restricted holders.
Why it matters
A small float can mean thin liquidity and sharper price swings, because relatively few shares change hands. A larger float generally supports steadier trading and makes it easier for institutions to build positions without moving the price.
Float and index inclusion
Many stock indices weight companies by float-adjusted market capitalization, so float also influences whether and how heavily a company is represented in major indexes, which in turn affects passive investor demand.