I am confident that is an active position taken by cardinal and not tracking the index
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Conclusion
Citadel Advisors LLC’s investment in NioCorp Developments Ltd. is classified as passive per the Schedule 13G filing, meaning they do not intend to influence NioCorp’s management or policies. There is no definitive evidence that this position is part of a passive strategy to track the Russell Index (e.g., Russell 2000). Instead, the timing of the investment (aligned with NioCorp’s July 18, 2025, public offering) and Citadel’s sophisticated investment approach suggest the stake may reflect an active selection of NioCorp as a promising investment, while maintaining a passive stance regarding control. Without explicit data confirming NioCorp’s inclusion in the Russell Index or Citadel’s index-tracking intent, the investment appears to be a targeted, passive holding rather than a byproduct of index tracking.
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