What smart money is saying about PWR Holdings
1 fund in our archive has pitched PWR Holdings — most recently Ganes Capital Focused Value Fund in September 2026.
PWR Holdings Limited engages in the design, prototyping, production, testing, validation, and sale of cooling products and solutions in Australia, the United States, the United Kingdom, Italy, Germany, Switzerland, France, Japan, Canada, Finland, and internationally. It operates in two segments, PWR Performance Products and PWR C&R. The company offers tube and fin heat exchangers, bar and plate heat exchangers, additive manufacturing machines, liquid cold plates, brazed chassis, and micro matrix heat exchangers. It also provides 3D printing; clean room and assembly; coating and cleaning; CNC machining, sheetmetal, and stamping; CT scanning; engineering and design; low and high volume production; modular assembly; prototyping and custom manufacturing; quality control; research and development; simulation; testing and validation; tooling, jig , fixture design, and manufacture; vaccum brazing and heat treatment; and welding and fabrication services. In addition, the company offers performance aftermarket products, including radiators, intercoolers, engine and transmission oil coolers, thermo fans, heat exchangers, custom units, and other accessories. It serves motorsports, defence, aerospace, electric and hybrid vehicles, renewable energy, industrial, and original equipment manufacturing industries. PWR Holdings Limited was founded in 1987 and is headquartered in Stapylton, Australia.
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Position history
Between Q1 2026 and Q3 2026, 2 fund letters reported a position in PWR Holdings — 1 trimmed or exited.
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 1 | 0 | 0 | 1 |
| Q1 2026 | 1 | 0 | 1 | 0 |
Fund activity · 2 positions · 1 move
- September 2026
“The fund enjoyed a relatively positive reporting season with several businesses reporting strong results. Dicker Data was the standout, although Bravura Solutions and PWR Holdings also reported stronger than expected results. Our negative return for the past year is largely due to our consumer facing businesses. Lovisa, ARB Corporation and Eagers Automotive are all down significantly over the past year. Increased volatility seems to be a feature of markets in recent years and masks a bifurcation in underlying portfolio performance. We have had some stocks fall more than 50% over the past year, and on the positive side two of our larger holdings are up more than 50%. Not one company in the portfolio has produced a result similar to our one -year return. There were no changes to our top 10 holdings, although price movements have led to Dicker Data and Bravura Solutions moving higher in the portfolio. The fund had a cash weighting of 2.0% at the end of the quarter. Performance as at 30 September 2026: Unit Prices as at 30 September 2026: Top 10 Holdings: Company Code Weight (%) PWR Holdings PWH 14.6 Lovisa LOV 11.7 AUB Group AUB 10.5 Dicker Data DDR 10.3 MFF Capital Investments MFF 10.1 Eagers Automotive APE 7.9 Redox RDX 7.4 Bravura Solutions BVS 6.8 Fiducian Group FID 5.1 ARB Corporation ARB 4.6 Fund (net of fees) ASX 300 Accum. Index 3 months 8.3% 1.3% 1 year -6.2% 2.4% 3 years p.a. 5.4% 11.3% 5 years p.a. 3.4% 7.5% 10 years p.a. 8.9% 9.0% 20 years p.a. 7.8% 7.0% Since Inception (p.a.)* 10.7% 9.0% Value $10,000 invested since inception $113,219 $79,534 *Inception date of Fund is 14/10/2002 Entry Price $3.9660 Unit Price $3.9561 Exit Price $3.9462 Top 5 Sector Exposures: Sector Weight (%) Consumer Discretionary 39.5 Financials 31.6 Information Technology 17.1 Industrials 8.0 Healthcare 1.7 Other (including Cash) 2.1 Ganes Capital Management Ltd AFSL 291 363 Phone: 1300 766 916 PO Box 3512 Newmarket QLD 4051 Email: admin@ganescapital.com.au APIR GCM0001AU | ARSN 117 119 712 Fund Performance While the table on the first page shows the performance of the fund over various time frames the graph above provides a visual representation of the fund against the ASX300 Accumulation Index benchmark since inception highlighting the benefits that accrue to compounding over the long term. Portfolio Performance The fund enjoyed some strong performers during the quarter with Bravura Solutions, PWR Holdings, Dicker Data and Cuscal all posting solid gains. Bravura Solutions rose more than 60% during the quarter despite a result that had been well flagged to the market. Due to its weighting PWR Holdings was our largest contributor to fund performance as it rose 23% during the quarter as profits have started to return to their previous levels now the well documented relocation of their factory has been completed.”
PWR Holdings - TrimmedGanes Focused Value FundMarch 2026
“We added to our AUB holding and slightly trimmed PWR Holdings on valuation grounds.”
PWR Holdings
Fund coverage · 1 thesis
- Ganes Capital Focused Value FundSeptember 2026
PWR Holdings benefits from recovering operations, strong growth in motorsports and aerospace, and an attractive recurring MRO opportunity with long-term expansion potential.
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