What smart money is saying about Trainline
TRN.L
No fund has written a full thesis on Trainline in our archive, but 4 fund letters report a position in it — most recently Liontrust UK Growth Fund in August 2026.
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4
Reported positions
0
Bought
2
Sold
4
Letters
Position history
Between Q2 2026 and Q3 2026, 4 fund letters reported a position in Trainline — 2 trimmed or exited.
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 1 | 0 | 0 | 0 |
| Q2 2026 | 3 | 0 | 2 | 0 |
Fund activity · 4 positions · 2 moves
- August 2026
“On the other side of the coin, Trainline’s (-16%) share price slide followed news that it is one of a handful of companies subject to an investigation by the Competition and Markets Authority into ‘drip pricing’ – the practice of adding additional fees later in the booking process.”
Trainline - June 2026
“Trainline (-10%) was among the detractors after its May results, as a strong earnings performance was overshadowed by a more cautious outlook for the year ahead.”
Trainline - ExitedLiontrust UK Equity FundJune 2026
“We exited our positions in Trainline due to higher conviction in other technology-focused names, and in Renishaw and Diploma due to valuation discipline.”
Trainline - ExitedLiontrust Income FundJune 2026
“We exited our positions in Trainline due to higher conviction in other technology-focused names, and in AJ Bell, Renishaw, Segro and Diploma due to valuation discipline.”
Trainline
Read the letters behind these Trainline positions
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