Finally, there are the horse breeders and breed registries like the American Quarter Horse Association (AQHA) and American Paint Horse Association (APHA).

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Every individual horse adds up: fees to register a foal, and fees to enter the individual in AQHA-sanctioned shows thru its lifetime, etc.

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Per the Wiki page for AQHA, the American Quarter Horse Association is the largest breed registry in the world, with more than 5 million American Quarter Horses registered.

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