IUPUI took four minutes to sink its first bucket but went on to overtake Pepperdine 14-10 on a three-point play by Leo Svete with 12:16 left in the first period and the Jaguars led 28-27 at the break.
A 10-0 run midway through the second half put the Jaguars up 42-35. Jeremy Major brought Pepperdine to within one, 54-53, on a 3-pointer with 11 seconds remaining. IUPUI's Najee made 1 of 2 free throws with 8 seconds left and Pepperdine missed two shots in the final seconds.
Shawn Olden had 15 points, four rebounds and four assists for the Waves (7-4). Major finished with 14 points.