The Security tab is available through either the Query Builder or multiselect operations.
The primary difference between the Security tab that opens through the Query Builder and the Security tab that opens when you select multiple objects is when the security changes occur:
With the Security tab you can update security on the selected set of objects. This appends already existing security settings, and adds security descriptors to the head of the list.
You can give or deny permissions on the objects for selected user groups.