Sec. 11. As used in this chapter, "indirect holdings" means all securities of a company:
(1) held in an account or a fund; and
(2) managed by one (1) or more persons not employed by the fund (before July 1, 2011) or system, in which the fund (before July 1, 2011) or system owns shares or interests on behalf of a fund together with other investors not subject to this chapter.