  The quadratic form $V(\varphi,Q)=\sum_{q\sim Q}\sum_{a\mod^*
q}|S(\varphi,a/q)|^2$ and its eigenvalues are well understood when
$Q=o(\sqrt{N})$, while $V(\varphi,Q)$ is expected to behave like a Riemann sum
when $N=o(Q)$. The behavior in the range $Q\in[\sqrt{N},100 N]$ is still
mysterious. In the present work we present a full spectral analysis when $Q\ge
N^{7/8}$ in terms of the eigenvalues of a one-parameter family of nuclear
difference operators. We show in particular that (a smoothed version of) the
quadratic form $V(\varphi,Q)$ may stay \emph{away} from
$(6/\pi^2)Q\sum_n|\varphi_n|^2$ when $Q\asymp N$, though only on a vector space
of positive but small dimension.
