Ann: Change in substantial holding, page-4

This doesn't necessarily mean a change in conviction from REGAL, they might have a lot of redemptions from their unitholders to pay out and are reducing a number of positions across their portfolio.

Or they are building a position in another company in another sector to diversify away from heavy oil exposure (at least SXY price movement is aligned with oil).

Many variables to consider here. But expect many weak hands to fold in this uncertain environment.