Q:

Why do I still see large orders?

When analysing T&S for stocks such as AAPL, I sometimes see huge trades.
These trades are in the order of 10.000 shares or more.
To my knowledge, large trades are (supposed to be) executed by algorithms which subdivide the large batches into smallers trades, as to not influence (/shake) the market too much.
So then why do I still see large trades appear on my feed? Do some institional investors simply try to execute if the large order sufficiently crosses the book to cause a fill? (implied by this answer)
Why wouldn't they subdivide their trades?

A:

Time and sales shows trades, not orders. You are most likely seeing off exchange block trades being matched in dark pools and other block crossing venues and reported to FINRAs TRF.

