My comment was just a response to Jwoody asking what...

My comment was just a response to Jwoody asking what "Transitioning out" might mean.

The announcement showed a Net movement of about -3.7million shares broken up in about 5 pages of buys and sells, but there was a single different entry against 12/11/2021 that said "Transition Out" instead of Buy or Sell that accounted for about half of the net movement (-1.9million) shares.

Having never seen it before, I was just guessing that it might mean they were no longer managing that portfolio and so no longer held a voting right on those shares (with no actual knowledge on the subject (and no up-ramp/down-ramp bias)). i.e. No shares actually bought or sold, just FIL no longer controlling the voting rights on those shares.

I would be grateful if others with more knowledge on the subject could confirm/deny this.