The ASX share market is full of opportunities that we can buy to generate returns.
Yes, many investors may be drawn to names like BHP Group Ltd (ASX: BHP), Commonwealth Bank of Australia (ASX: CBA) and Woolworths Group Ltd (ASX: WOW). But these blue-chips are unlikely to keep growing quickly because of their size and how mature their markets already are.
The fund managers of listed investment company (LIC) WAM Active Ltd (ASX: WAA) have outlined two businesses that have promising outlooks.
WAM Active looks for mispriced ASX shares. Let's look at two of the latest businesses that were highlighted within the portfolio.
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Dxn Ltd (ASX: DXN)
The first company that Wilson Asset Management (WAM) talked about was DXN, a prefabricated data centre manufacturer and operator, scaled across the Asia-Pacific region.
WAM noted that the DXN share price increased in August after the company announced a $4.1 million contract with Melbourne Airport to design, manufacture and commission a prefabricated edge data centre facility.
The fund manager also noted that DXN's FY26 result also highlighted a record order backlog of $40.9 million and growing demand for its artificial intelligence- ready modular data centre solutions.
DXN also secured its second AI high-performance computing contract, providing confidence in its growth outlook.
Overall, WAM believes that the ASX share is well-positioned to benefit from accelerating investment in AI infrastructure, supported by an expanding order book, increasing manufacturing capacity and a growing presence across the Asia Pacific region.
Cobre Ltd (ASX: CBE)
Cobre was the other ASX share that Wilson Asset Management mentioned from the WAM Active portfolio. WAM described Cobre as a global copper company focused on exploration and production in Chile's Atacama region and Botswana's Kalahari Copper Belt.
The fund manager noted that the Cobre share price rose strongly during the month after several positive corporate developments.
Pleasingly, the company was included in the MSCI Global Micro Cap Index, which is expected to enhance the ASX share's profile among international investors and support broader institutional ownership. Its inclusion took effect on 1 September 2026.
On 10 August, Rothschild & Co was appointed as a strategic advisor to further develop the company's capital markets positioning.
At the end of the month, Cobre also strengthened its position in the Sierra Atacama copper project by securing majority ownership and increasing its exposure to future production and cash flow.
Looking ahead, WAM continues to see value in Cobre, driven by its growing exposure to the Sierra Atacama copper project and multiple operational catalysts in the coming months.
Of course, these aren't the only ASX shares out there that could be great buys today.
