She takes as much as she can hold on the Fourth of July (5)

I believe the answer is:

filly

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'she' is the definition.
Both the answer and definition are singular nouns.
Perhaps they are linked in a way I don't understand?

I don't understand the rest of the clue.

Can you help me to learn more?

(Other definitions for filly that I've seen before include "Young female horse" , "Female horse under four years old" , "Young mare" .)

I've seen this clue in the Evening Standard.

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