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Iperionx Ltd ASX:IPX

0 opened or increased2 held0 reduced or exitedlatest position by manager, past 12 months90 days: 0 increased, 0 reduced. 5 managers in total.

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202420252026

30 Jun 2023 to today

Commentary Showing 2 of 38

DateManagerActionSummary

31 Aug 2026Pengana Capital GroupHeldPengana Capital Group continues to hold IperionX Ltd (ASX: IPX) after shares rose 3% when the titanium company announced it would redomicile under a Texas-incorporated parent company. Pengana views the move positively because it is likely to help IperionX secure further US government funding. Pengana points to the US government's recent US$450 million commitment to Elmet to build a tungsten supply chain and believes future grants to reshore the titanium supply chain are also likely. IperionX also appointed Michael Loparco as an independent non-executive director; he brings 25 years of experience in advanced manufacturing, automation and global supply chains, including as CEO of Symbotic through its 2022 US listing and over two decades at Jabil.

Critical MineralsMonthly Report, price recorded $2.98

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31 Jul 2026Pengana Capital GroupHeldPengana Capital Group continues to hold IperionX despite a weak month in which the critical-minerals stock declined 31% amid a broad sector sell-off. The manager notes the company's balance sheet is strong following a recent capital raise, leaving approximately US$85 million in cash, and highlights an investor presentation detailing customer engagement across aerospace, consumer electronics, automotive and defence markets. Pengana also flags that roughly 12% of shares outstanding are sold short, which could amplify any positive reaction to contract wins, alongside potential US government funding for the Titan and Atlas mining projects as additional catalysts.

Critical Minerals Rare EarthsMonthly Report, price recorded $3.05

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Articles

About Iperionx Ltd

Materials, Metals and Mining

IperionX (ASX:IPX) is a titanium technology company that fund managers see as a strategic beneficiary of US efforts to reshore critical supply chains. In July 2026, Pengana noted the shares fell 31% amid a broad critical minerals sell-off, after earlier rising 22% on quarterly results, a detailed investor presentation and management share purchases. Pengana believes IperionX stands to gain from substantial US support to rebuild titanium supply for defence, aerospace and clean energy. Ellerston Capital described its patented technologies for producing high-performance titanium alloys from scrap at lower cost. IperionX operates in the Materials sector within the Metals and Mining industry, and Thesis Tracker has captured 37 comments from 5 fund managers, including Pengana and Ellerston Capital. IperionX produces low-carbon titanium metal powders from scrap at its Virginia facility and owns the Titan mineral sands project in Tennessee.

Market cap: $701m
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: $1.93 to $9.21

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

Questions

Who is investing in Iperionx Ltd (ASX:IPX)?

Fund managers including Minotaur Capital, Pengana Capital Group, Wilson Asset Management, Ellerston Capital and NorthStar Impact Funds have invested in Iperionx Ltd (ASX:IPX).

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

Pengana and Ellerston highlight US government support to reshore titanium supply for defence and aerospace, patented low-cost technology for producing titanium alloys from scrap, improved investor communication and management share purchases.

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

Pengana notes extreme share price volatility, including a 48% fall in one month and 31% in another during sector sell-offs, often on little news. Commercial scale-up and the pace of US defence demand remain key uncertainties.

What does Iperionx Ltd (ASX:IPX) do?

IperionX Ltd. develops low-carbon titanium for the aerospace, space, electric vehicle, and 3D printing industries. The company utilizes a pilot facility in Utah to produce titanium metal powders from titanium scrap. Expansion plans include scaling production at a new Titanium Demonstration Facility in Virginia. Founded in 2017 by Anastasios Arima and Scott Sparks, IperionX is headquartered in Charlotte, NC. The company focuses on sustainable titanium manufacturing solutions for advanced industrial applications.

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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