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MaxiPARTS (ASX:MXI) is a commercial vehicle parts business backed by NAOS Asset Management as a core investment. In August 2026, NAOS highlighted an upgraded FY26 profit forecast on stronger second-half margins, exceptional cash conversion and a net cash position reached 12 to 18 months ahead of expectations, alongside new executive hires from Bapcor's commercial vehicle group. Earlier in 2026, the shares fell almost 30% in a quarter, weighing on NAOS funds and Perpetual's small holding. MaxiPARTS operates in the Industrials sector within the Machinery industry, and Thesis Tracker has captured 8 comments from 3 fund managers, including NAOS Asset Management and Perpetual. Founded in 1972 and headquartered in Truganina, Victoria, MaxiPARTS distributes aftermarket truck and trailer parts and transport equipment through a national branch network after divesting its former trailer manufacturing business.
Company figures as of 15 Oct 2026. For information only.
Fund managers including Naos Asset Management, NAOS Asset Management and Perpetual Asset Management have invested in MaxiParts (ASX:MXI).
NAOS Asset Management highlights a profit upgrade driven by second-half margin improvement, strong cash conversion that delivered net cash of around $7 million well ahead of plan, and senior hires with commercial vehicle aftermarket experience. NAOS views the share price fall as disconnected from positive trading updates and an improved balance sheet.
Perpetual notes the shares fell more than 27% in the June quarter after a trading update flagged softer demand for aftermarket truck parts, reflecting cyclically depressed commercial vehicle activity. The share price weakness weighed on NAOS's NAC and NSC portfolios despite improving fundamentals.
MaxiPARTS Ltd. is an Australian company headquartered in Truganina, founded in 1972 by James R. Curtis. The business specializes in the production and supply of trailing transport equipment and solutions. Operations are organized into two primary segments: MaxiPARTS Operations and Förch Australia. The company’s product portfolio includes essential commercial vehicle components such as axles, suspensions, tyres, wheels, and braking systems.
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.