Loading companies…

FBR Ltd ASX:FBR

0 opened or increased0 held0 reduced or exitedlatest position by manager, past 12 months90 days: 0 increased, 0 reduced. 1 managers in total.

Position history by manager 1 managersSelect a point to see the comment

Opened or increasedHeldReduced or exited Start or end of the position not reported

20252026

31 Jan 2024 to today

Commentary Showing 2 of 8

DateManagerActionSummary

31 Mar 2025Saville CapitalExitSaville Capital exited its position in FBR Ltd because the company's option agreement with CRH Ventures lapsed with no other imminent deals visible that could fund its entry into the US construction market. Saville Capital notes a belief in FBR's technology and plans to remain a close observer of developments, particularly regarding potential engagement with Samsung. However, the fund concluded that capital could be better deployed in other emerging opportunities while FBR works toward a new partnership in the US market.

Monthly Report, price recorded $0.01

The source document link is a Pro feature

28 Feb 2025Saville CapitalHeldThe fund manager continues to hold FBR Limited, noting the significant and unexpected outcome that CRH Ventures did not provide formal notice to exercise the joint venture option despite completing the Demonstration Program to all parties' satisfaction and receiving US$2 million in non-refundable payments. The manager attributes this to the appointment of a new CEO at CRH, which can lead to abrupt strategy changes. On a positive note, FBR successfully completed a technology demonstration to Samsung Heavy Industries exploring the application of robotic automation to the shipbuilding industry, with the parties planning to enter business agreement negotiations for joint development, engineering, and prototyping of automated vessel construction solutions.

Monthly Report, price recorded $0.02

The source document link is a Pro feature

6 more comments on FBRPro shows every comment, with a link to each source document.

Upgrade to Pro

First mention by manager

Price recorded at each manager's first comment

Price at first mentionThe share price recorded when each of 1 managers first commented on FBR.

View Pro

About FBR Ltd

Industrials, Machinery

FBR (ASX:FBR), the developer of the Hadrian X brick-laying robot, has been followed closely by Saville Capital through its US commercialisation efforts. In March 2025, Saville Capital exited its position after FBR's option agreement with CRH Ventures lapsed and no alternative deal emerged to fund its entry into the US construction market. Saville had earlier highlighted the completion of the US Demonstration Program in Florida, which drew praise from national builder PulteGroup and delivered US$2 million in payments, but CRH did not exercise its joint venture option. FBR operates in the Industrials sector within the Machinery industry, and Thesis Tracker has captured 8 comments from 1 fund manager, Saville Capital. Founded in 1982 and headquartered in High Wycombe, Western Australia, FBR develops automated construction robotics, including the truck-mounted Hadrian X system that builds the walls of homes from concrete blocks.

Market cap: $8m
Price to earnings: Loss-making
Return on equity: -190.9%
Dividend yield: 0.0%
Price to book: 3.09x
Net margin: -5629.6%
52-week range: $0.05 to $0.25

Company figures as of 15 Oct 2026. For information only.

Questions

Who is investing in FBR Ltd (ASX:FBR)?

Fund managers including Saville Capital have invested in FBR Ltd (ASX:FBR).

What opportunities or catalysts do fund managers highlight for FBR Ltd?

Saville Capital highlighted FBR's successful US Demonstration Program, in which Hadrian X built the external walls of nine homes in Florida certified to local codes, receiving strong feedback from PulteGroup. The technology's proven performance remains the core of any future commercial partnership.

What are the key risks to the FBR Ltd investment thesis, according to fund managers?

Saville Capital exited after CRH Ventures did not exercise its option to form a US joint venture, leaving FBR without a clear path to fund its US expansion. Ongoing capital raisings to fund working capital also dilute shareholders.

What does FBR Ltd (ASX:FBR) do?

FBR Ltd. is a robotic building technology company specializing in automated construction machines. Founded in 1982 and headquartered in High Wycombe, Australia, the firm develops proprietary technology designed to automate residential brickwork. FBR’s core focus is on advancing robotic construction processes to complete entire home structures efficiently. The company operates at the intersection of robotics and civil engineering, providing technology solutions for the building industry.

General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.

11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.

Disclaimer Terms of Use Privacy Complaints Contact

Loading…