Subject: File No. S7-08-20
From: Nicholas I Merritt

July 16, 2020

I strongly oppose proposed rule file no. s7-07-20

Funds with assets less than $3.5 Billion still have significant ability to move the prices of securities with their trades.

The ability to see what big funds are holding allows small-time investors to protect their portfolios from potentially large moves by bigger players.

This rule change would keep small-time investors unaware of potential pump-and-dumps and would only serve to enable market manipulation.