What smart money is saying about Trane Technologies
3 funds in our archive have pitched Trane Technologies — most recently Renaissance IM Large Cap Growth Strategy in June 2026.
Trane Technologies plc designs, manufactures, sells, and services of solutions for heating, ventilation, air conditioning, and custom and transport refrigeration. It offers air conditioners, exchangers, and handlers; airside and terminal devices; air sourced heat pumps; chillers; coils and condensers; auxiliary power, cold storage, and condensing units; controls contracting and commissioning, decarbonization programs, and gensets; dehumidifiers; energy and water efficiency programs; energy recovery ventilators and power solutions; energy storage; furnaces; home automation; humidifiers; HVAC performance-monitoring products; and indoor air quality assessments and related products for HVAC and transport solutions. The company also provides asset management, building management, bus air purification, bus and rail HVAC, container refrigeration, control, ductless, geothermal, data center and multi-pipe HVAC, package heating and cooling, rail refrigeration, residential air filtration, self and vehicle powered truck refrigeration, temporary heating and cooling, truck refrigeration, unitary, variable refrigerant flow, and trailer refrigeration systems. In addition, it offers industrial process refrigeration, installation contracting, lighting retrofit, medical grade refrigeration, refrigerant reclamation, renewable energy and storage, residential hybrid heating, telematics, thermostats/controls and associated digital, ventilation, and stationary cold storage solutions; packaged rooftop units; rate chambers; residential air filters; thermal energy storage; transport heater products; temperature freezers; energy infrastructure programs and management, repair and maintenance, smart and AI-enabled, and rental services; water source heat pumps; and aftermarket and OEM parts and supplies. The company was formerly known as Ingersoll-Rand Plc and changed its name to Trane Technologies plc in March 2020. The company was founded in 1885 and is headquartered in Swords, Ireland.
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Position history
Between Q4 2024 and Q3 2026, 13 fund letters reported a position in Trane Technologies — 2 opened or added to the position, 2 trimmed or exited.
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 2 | 0 | 0 | 0 |
| Q2 2026 | 5 | 1 | 0 | 2 |
| Q1 2026 | 2 | 1 | 0 | 0 |
| Q4 2025 | 2 | 0 | 2 | 0 |
| Q2 2025 | 1 | 0 | 0 | 0 |
| Q1 2025 | 0 | 0 | 0 | 1 |
| Q4 2024 | 1 | 0 | 0 | 0 |
Fund activity · 13 positions · 4 moves
- August 2026
“Our buildings exposure comes via pure-play quality exposure to heating and cooling industries (via commercial HVAC manufacturer Trane Technologies) as well as high-quality roofing manufacturer Carlisle Companies.”
Trane Technologies - July 2026
“Trane Technologies continued to demonstrate strong order intake for its efficient commercial cooling solutions in the US, while Owens Corning rallied sharply after receiving a $10bn takeover offer from fellow portfolio holding Carlisle to create a 'one-stop shop' for commercial and residential roofing and insulation products.”
Trane Technologies - June 2026
“Within the Fund, the strongest performers were Enphase Energy Inc, First Solar Inc, Infineon Technologies AG, Versigent and Canadian Solar Inc while the weakest performers were AECOM, NextEra Energy Inc, LG Chem Ltd, Trane Technologies and Vestas Wind Systems A/S.”
Trane Technologies “Within the Fund, the strongest performers were Enphase Energy Inc, First Solar Inc, Infineon Technologies AG, Versigent and Canadian Solar Inc while the weakest performers were AECOM, NextEra Energy Inc, LG Chem Ltd, Trane Technologies and Vestas Wind Systems A/S.”
Trane Technologies- June 2026
“ Industrials remains the Strategy’s largest sector overweight, driven by positions in Uber Technologies Inc (UBER), Cintas Corp (CTAS), Trane Technologies PLC (TT), and HEICO Corp Class A (HEI.A).”
Trane Technologies - New positionMalborough Marlborough US Focus FundJune 2026
“During the second quarter, we added a new position in the Industrials sector with Trane Technologies, a leading provider of heating and cooling systems, building controls, and energy- related services.”
Trane Technologies - June 2026
“Beyond Intel and Centene, our top contributors were Cisco, Eaton and Trane.”
Trane Technologies - HoldsLarge-Cap GrowthMarch 2026
“From a sector perspective, Industrials was the strongest relative contributor during the quarter, led by Generac Holdings (GNRC) and Trane Technologies (TT), both of which we believe continue to execute well against a favorable demand backdrop.”
Trane Technologies - March 2026
“We switched from Carrier Global (CARR) to Trane Technologies (TT).”
Trane Technologies - December 2025
“In aggregate, we initiated 16 positions in the quarter and exited 15 others. Trane Technologies was among the portfolio’s larger sales.”
Trane Technologies - December 2025
“Heidelberg Materials, a German supplier of building materials for residential, commercial and infrastructure construction. The company could see upside to margins from improving capacity utilization in Europe and its advantages in implementing decarbonization technologies in the production of cement. European construction activity is at 30% lower levels than pre-COVID, paving the way for a recovery that could be triggered by vigorous German stimulus that should be followed across the EU. Trane Technologies was among the portfolio’s larger sales.”
Trane Technologies - HoldsFederated Hermes Sustainable Global EquityJune 2025
“Key holding: Building efficiency booster Trane Technologies Trane is a global leader in heating, ventilation and air conditioning (HVAC) systems, with a strong focus on electrifying building infrastructure.”
Trane Technologies - HoldsFocus GrowthDecember 2024
“Trane Technologies Trane Technologies detracted from performance in the fourth quarter of 2024.”
Trane Technologies
Also mentioned · 1
These funds discuss Trane Technologies — as a competitor, benchmark or comparable — without disclosing a position in it.
- MentionedO'Keefe Stevens NVIDIA StrategyJuly 2026
“The Vera Rubin DSX AI Factory reference design and NVIDIA Omniverse DSX Blueprint bring together compute, networking, storage, power, cooling, and operations into an open, modular architecture supported by partners including Vertiv, Schneider Electric, Eaton, Jacobs, Phaidra, Procore, PTC, Siemens, Switch, Trane Technologies, Cadence, and Dassault Systèmes.”
Trane Technologies
Fund coverage · 3 theses
Trane Technologies offers heating and cooling and benefits from AI data center growth, system-level solutions, and high-margin service revenue.
Read the full thesis- Malborough Marlborough US Focus FundJune 2026
Trane Technologies is a heating, cooling and building-controls provider benefiting from AI data center growth, system-level solutions, and underappreciated service revenue.
Read the full thesis - Clearbridge Global Growth StrategyMarch 2025
Trane Technologies is an HVAC supplier with a strong value proposition driven by improved energy efficiency, significant cost savings, and rapid growth in its data center business.
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