From SEC staff Memorandum: Figures 9B and 10B display daily counts of gross positions that surpass 7% and 10% of a U.S. listed security’s market cap, respectively. A single participant can hold multiple large positions, hence the count can exceed the total number of market participants…

by Dismal-Jellyfish

Source: Memorandum from the Division of Economic and Risk Analysis

My understanding is figures 9 and 10 outline the daily market participants’ gross positions in securities exceeding 7% and 10% of the security’s market capitalization.

• On average, 65 participants exceed the 7% threshold daily, and 46 exceed the 10% threshold. The highest recorded numbers are 90 (7% threshold) and 60 (10% threshold), respectively.
• The total daily gross positions that exceed these thresholds (Figures 9B and 10B) can be larger than the number of participants, as one participant can hold multiple large positions.
• On average, there are 319 positions exceeding the 7% threshold and 174 exceeding the 10% threshold daily.
• The largest recorded numbers of such positions are 523 (7% threshold) and 292 (10% threshold), respectively.