219,567 equity holders.
5,389 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 $25, at block 50975751. Contract addresses were excluded. 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.
Every study is fixed against a census taken before it was announced. That makes the denominator publishable — a study reports the share of a named universe that answered, not a sample of an unknowable population — and it closes the obvious attack, which is reading the screener and then buying the position.