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Ikegps Group Ltd ASX:IKE

0 opened or increased1 held0 reduced or exitedlatest position by manager, past 12 months90 days: 0 increased, 0 reduced. 2 managers in total.

Position history by manager 2 managersSelect a point to see the comment

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

2026

28 Feb 2025 to today

Commentary Showing 2 of 4

DateManagerActionSummary

30 Oct 2025Ellerston CapitalHeldEllerston Capital continues to hold ikeGPS Group Ltd because the company provides integrated hardware and software to utilities and telecommunications companies across North America, addressing critical infrastructure digitisation needs. Ellerston Capital highlights strong structural tailwinds including an ageing asset base requiring replacement, grid expansion from electrification and renewables, extreme weather resilience demands, and 5G and fibre rollouts requiring compliance testing of pole loads. The fund notes that eight of the ten largest investor-owned utilities are customers, with limited competition as ikeGPS largely displaces manual methods and spreadsheets.

Article, price recorded $1.08

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30 Sep 2025Cerutty Macro FundHeldThe fund manager continues to hold IKE, a provider of enterprise software used by eight of the ten largest US utilities to capture, analyse, and manage critical pole and network infrastructure data. The manager notes the business generates approximately $17 million in annual recurring revenue at 90% gross margins and is expected to reach EBITDA breakeven in the second half of FY26, supported by organic growth, margin expansion, and new software modules developed with major utilities including the IKE PoleForeman pole-load analysis tool. The manager also notes the investment carries additional strategic optionality given a prior unsolicited takeover proposal from private equity at NZD $1 per share.

Monthly Report, price recorded $0.83

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2 more comments on IKEPro shows every comment, with a link to each source document.

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First mention by manager

Price recorded at each manager's first comment

Price at first mentionThe share price recorded when each of 2 managers first commented on IKE.

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About Ikegps Group Ltd

Information Technology, Electronic Equipment, Instruments and Components

ikeGPS (ASX:IKE), a provider of utility asset data tools, is held by Ellerston Capital for exposure to North American grid investment. In October 2025, Ellerston described ikeGPS as providing integrated hardware and software to utilities and telecommunications companies across North America, helping them manage power distribution assets by digitising pole and line data and supporting engineering analysis. ikeGPS operates in the Information Technology sector within the Electronic Equipment, Instruments and Components industry, and Thesis Tracker has captured 4 comments from 2 fund managers, including Ellerston Capital. Founded in 2003 by Leon Mathieu Lammers van Toorenburg and headquartered in Wellington, New Zealand, ikeGPS provides measurement devices and software platforms, including IKE Office Pro, IKE PoleForeman and IKE Analyze, used by utilities, telecommunications providers and engineering firms in the US to collect, analyse and manage data on distribution poles and network assets, benefiting from grid modernisation and fibre broadband rollout.

Market cap: $203m
Price to earnings: Loss-making
Return on equity: 0.0%
Dividend yield: 0.0%
Price to book: 0.00x
Net margin: 0.0%
52-week range: $0.71 to $1.15

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

Questions

Who is investing in Ikegps Group Ltd (ASX:IKE)?

Fund managers including Ellerston Capital and Cerutty Macro Fund have invested in Ikegps Group Ltd (ASX:IKE).

What opportunities or catalysts do fund managers highlight for Ikegps Group Ltd?

Ellerston highlights ikeGPS' integrated hardware and software that digitises pole and line data, positioning it to benefit from North American grid modernisation and telecom network investment.

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

The available commentary does not set out specific risks, though ikeGPS is a small company whose growth depends on utility spending cycles in the US.

What does Ikegps Group Ltd (ASX:IKE) do?

ikeGPS Group Ltd. provides solutions for collecting, analyzing, and managing distribution assets for electric utilities and communications companies. Founded in 2003 by Leon Mathieu Lammers van Toorenburg, the company is headquartered in Te Aro, New Zealand. ikeGPS specializes in delivering technology that supports infrastructure management, focusing on data-driven insights for utility and communication networks. Their solutions enable efficient asset management through advanced collection and analysis tools, serving global industry clients.

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.

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