What smart money is saying about Talgo
TLGO.MC
No fund has written a full thesis on Talgo in our archive, but 1 fund letter reports a position in it — most recently Horos AM Funds in July 2026.
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1
Reported positions
0
Bought
1
Sold
1
Letter
Position history
Every position in Talgo on record in the archive was reported in Q3 2026, across 1 fund letter — 1 trimmed or exited.
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 1 | 0 | 1 | 0 |
Fund activity · 1 position · 1 move
- ExitedHoros AM FundsJuly 2026
“Holdings discussed: Acerinox (exited), Talgo (exited) and Aperam (0.4%) This quarter we exited the stainless steel producer Acerinox and did practically the same with its peer Aperam. As we have detailed in the past, these are two companies that have experienced significant price pressure in recent years in their European divisions, which has hurt the margins of their traditional business and masked the substantial improvement in the cyclicality and profitability profile of their groups, following the acquisitions in special alloys and higher value-added products made over the period. Finally, the European cycle appears to have bottomed, which, together with the strengthening of the European Commission's protectionist measures, has driven up the share prices of both companies, with sharp gains (between 70% and 100%) in less than a year. Likewise, we fully sold our already reduced position in Talgo, the Spanish company that designs, manufactures and maintains rolling stock.”
Talgo
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