That's an interesting idea with the pension funds. It might cause a hiccup in the analysis bybincreasing the percentage of unknown stockholders, Proxy Solicitor would love it since the retail campaigns are highly profitable.
I've been tossing around the idea of partnering with a website like moxyvote that has retail investors following these issues. I think it would be interesting to let them indicate their intended vote then calculate their collective power. I think it would be motivating and increase turnout.
In answer to you question about the Dow I have not run them as a set, but I've never worked on a company yet that didn't have at least one shareholder that met that criteria.
Email me at T@RotaryGallop.com if you'd like to chat.