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PWR Holdings Ltd ASX:PWH

2 opened or increased1 held3 reduced or exitedlatest position by manager, past 12 months90 days: 1 increased, 0 reduced. 11 managers in total.

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20252026

10 Apr 2026 to today

Commentary Showing 2 of 15

DateManagerActionSummary

31 Aug 2026SG Hiscock & CompanyInitiatedSG Hiscock & Company initiated a small position in PWR Holdings because the manufacturer of high-performance cooling systems delivered a result showing clear evidence of operating leverage emerging after several years of capacity investment. SG Hiscock highlights improving margins and stronger forward visibility as key positives from the result. Continued growth in the Aerospace and Defence segment was particularly encouraging to the manager, suggesting diversification beyond PWR's traditional motorsport and automotive cooling base. SG Hiscock's entry reflects its view that the multi-year investment phase is now translating into improved profitability and earnings momentum for the business.

Margin Expansion Operating LeverageMonthly Report, price recorded $11.51

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24 Apr 2026Investors Mutual LimitedExitThe manager sold their investment because they view the valuation as too rich, with the stock on 45 times earnings and a near-billion-dollar market cap pricing in significant aerospace and defence upside despite only a few approved products in that segment. While motorsport performance has been phenomenal, growth there now looks more challenged, and the company has had a string of earnings downgrades in recent years. Although they regard it as a really good Australian high-tech manufacturer, valuation drove the exit decision.

Article, price recorded $9.13

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13 more comments on PWHPro 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 11 managers first commented on PWH.

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Articles

24 Apr 2026PWR Holdings ASX PWH Fund Managers On The Stapylton Margin Recovery

About PWR Holdings Ltd

Industrials, Auto Components

PWR Holdings (ASX:PWH), the motorsport and aerospace cooling specialist, is admired by fund managers for its quality but debated on valuation. In April 2026, Hayborough Investment Partners rated PWR a hold, describing it as a fantastic company with significant intellectual property, but holding only a smaller position given its valuation. Investors Mutual rated it a sell on valuation, noting motorsport growth looks more challenging. ECP Asset Management highlighted PWR's expansion into aerospace and defence, and Airlie noted it supplies cooling systems to every Formula One team. PWR Holdings operates in the Consumer Discretionary sector within the Auto Components industry, and Thesis Tracker has captured 14 comments from 10 fund managers, including Hayborough, Investors Mutual, ECP and Airlie. Founded in 1997 by Kees and Paul Weel and headquartered on the Gold Coast, PWR designs and manufactures advanced cooling systems for motorsport, automotive, aerospace and defence customers globally.

Market cap: $1.0b
Price to earnings: 68.4x
Return on equity: 16.8%
Dividend yield: 0.8%
Price to book: 10.86x
Net margin: 10.5%
52-week range: $7.22 to $12.50

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

Questions

Who is investing in PWR Holdings Ltd (ASX:PWH)?

Fund managers including Naos Asset Management, Oracle Advisory Group, Smallco Investment Manager, Elston Asset Management, Airlie Funds Management, Hayborough Investment Partners, Investors Mutual Limited, ECP Asset Management, Quest Asset Partners, Provenance Value Partnership and SG Hiscock & Company have invested in PWR Holdings Ltd (ASX:PWH).

What opportunities or catalysts do fund managers highlight for PWR Holdings Ltd?

ECP and Airlie highlight PWR's dominant reputation in elite motorsport, including supplying every Formula One team, and its growing application of that expertise in aerospace, defence and other high-growth adjacent sectors.

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

Investors Mutual and Hayborough both cite valuation as the main concern, with Investors Mutual noting motorsport growth looks more challenging, while ECP trimmed its holding after strong performance.

What does PWR Holdings Ltd (ASX:PWH) do?

PWR Holdings Ltd. designs, manufactures, and validates advanced cooling products for motorsport, automotive OEM, aerospace, defense, and aftermarket sectors globally. Founded in 1997 by Kees and Paul Weel, the company is headquartered in Ormeau, Australia. PWR operates through two primary segments: PWR Performance Products, covering Australian and European operations, and PWR C&R, which manages USA operations. The company specializes in bespoke cooling solutions, supporting both domestic and international markets with engineered prototyping, production, and testing services.

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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