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Any SCFT with a continuous R-symmetry contains a sector which is “closed” under RG flow. In the case of 3d theories, I will explain how combining this observation with holography and supersymmetric localization leads to the microscopic counting of entropy for an infinite class of AdS_4 back holes.
Finally, I will argue that the same set of ideas leads to various nontrivial relations among seemingly unrelated matrix models at large N and discuss the relation to microstate counting of black p-branes.