Interesting. I guess if they modified corporate law to eliminate fund-owned shares in calculating voting thresholds that might work. Problem with passing through voting rights is your guy with eight grand in an SPY fund would get at least 500 proxies per year.

I’d let active funds vote because there are alternatives to them and some of them actually want to be activist. But the passive funds, which own a massive amount of the aggregate market cap, are just supposed to be along for the ride.