221,886 equity holders.
5,443 of them hold more than $25.
Holder counts are the number every project quotes and nobody checks. We walked the holder table of each tokenized equity on Robinhood Chain, position by position, and 97.5% of those holders turn out to be dust — airdrops, faucet drips and rounding.
That gap is why this product exists. The audience worth researching is the one below, and it is small enough to name.
Method: every tokenized equity's holder table was paginated in descending balance order until positions fell below $10, at block 51049946. Contract addresses were excluded. The headline above is drawn at $25 — the line where a position is worth calling one — while the file itself goes down to $10, so every tier in the table can be recomputed from it. Prices are the chain's own. The columns count wallets, not people — one person may hold several, and nothing on this page is weighted to a population.
This is the denominator. A study reports the share of a named list that answered — “212 of the 2,369 wallets that qualified” — which no sample vendor can do, because none of them knows the size of the world they sampled from.
It is not the guest list. Eligibility is a holding period checked per wallet, so somebody who bought a week ago counts and somebody who bought this morning does not — and unlike a frozen list, the audience grows instead of only shrinking.