Buy Hold Sell: 5 global SMIDs that could be tomorrow's giants
Whilst Aussie small caps have been on fire and are outperforming their large-cap peers year to date, it’s not the same story everywhere. In the US, for example, small and mid-caps (SMIDs) are still lagging – such is the dominance of the Magnificent 7. But when everything else is rallying, it can pay to fish where others aren’t.
And here’s the kicker: unlike Australia, where there’s a tiny pool of SMIDs – roughly 250 names that meet the $300 million to $10 billion market-cap cut-off – there are around 8,000 globally. That’s a lot of fish.
But with more choice comes the need to know where to look and how to separate the bluefin from the carp – because not every SMID is worth catching.
With that in mind, Livewire’s Chris Conway is joined by Michael Poulsen from Canopy Investors and Nick Markiewicz from Ellerston Capital to unpack the factors they look for when hunting global SMIDs, run the ruler over a handful of names, and each share one stock they think has a bright future ahead.
Please note that this episode was filmed 19 November 2025
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13:40
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13:40
Buy Hold Sell: 5 small-cap hidden gems worth your attention
Small caps have long been the hunting ground for investors seeking outsized growth, but they also demand a sharper eye and stronger conviction.
Whilst smalls have woken from a long slumber in 2025, beneath the headline names a new generation of companies is quietly building momentum - firms with unique market positions, improving fundamentals, or catalysts that could soon propel them into the spotlight.
In this episode of Buy Hold Sell, Livewire's Chris Conway is joined by James Nguyen from Tyndall Asset Management and Shaun Weick from Wilson Asset Management. Together, they shine a light on five small-cap hidden gems; businesses that aren’t household names yet, but might be tomorrow.
They unpack what makes each one special, the triggers that could unlock their value, and the key risks investors should keep in mind. Whether you’re hunting for the next breakout stock or simply looking to understand what drives performance in this dynamic part of the market, this episode is full of actionable insights from two seasoned small-cap specialists.
Please note that this episode was filmed 5 November 2025
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10:35
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10:35
Buy Hold Sell: Can the small-cap rally last? (plus ASX 4 stocks to watch)
If you've been following the story of small caps for a while, you would know that as early as 2024, some investors were talking about a recovery in small caps given the performance gap relative to their larger peers.
For a good period of time, that promise went unfulfilled. But good things come to those who wait, and in 2025, small caps have staged a genuine comeback - so much so that they’re now outpacing their large-cap peers year to date.
The question now is: can it last? And just as importantly, what could derail the momentum?
Livewire's Chris Conway put those questions and more to James Nguyen from Tyndall Asset Management and Shaun Weick from Wilson Asset Management.
In this episode, James and Shaun also share which sectors and themes still look compelling in small-cap land, a couple of stocks they're most excited about, and a couple more that are keeping them up at night.
Please note that this episode was filmed 5 November 2025
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12:29
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12:29
Buy Hold Sell: The hottest ASX small caps right now (and 2 on the rise)
Unless you've been living under a rock, chances are you're aware of the resurgence in small-cap stocks. The ASX Small Ordinaries is up 19% year-to-date, versus just 7% for the ASX 100.
But it's not just a rotation away from growth-starved large caps that is seeing smalls catch a bid. The recent reporting season showed that many small caps are in rude health, with strong balance sheets and improved earnings backed by margin expansion, built on a bedrock of innovation and competitive advantage.
That's the good news but, of course, not all small caps are created equal. Investors need to be highly selective when considering less mature businesses.
Against that backdrop, Livewire's Chris Conway sat down with James Nguyen from Tyndall and Shaun Weick from Wilson Asset Management to understand their most important factors when assessing companies and run the ruler over three of the hottest ASX small caps.
For good measure, they each share a name they believe is on the rise.
Please note that this episode was filmed 5 November 2025
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11:47
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11:47
Buy Hold Sell: The photo finish - 5 ASX stock duels that could go either way
Over the past few episodes, we’ve galloped through our Spring Racing Carnival series - from the “stayers” built to go the distance, to the “wet-track wonders” that hold their footing when conditions turn tough. And now, as we thunder down the home straight, it’s time for the Photo Finish.
In this final instalment, we’re doing things a little differently. Rather than our usual stock-by-stock format, we’ve set up a series of head-to-head matchups - five pairs of closely matched companies, each vying for line honours. Our guests will weigh in on which business they’d back, and why.
It’s a chance to see how professional investors think when they’re forced to make the hard calls, where conviction meets comparison, and small details separate a winner from the pack.
Joining me to make those calls are Nick Pashias from Antares Equities and Marcus Ryan from Yarra Capital Management.
Please note this episode was filmed on 22 October 2025.
Buy Hold Sell is a fast-paced business and investing podcast, bringing you stock tips and investment ideas every Friday and every second Monday. Join us as we quiz Australia’s top fund managers and investment analysts on a range of local and global stocks, as well as ETFs. Learn about the forces moving equities markets, the potholes you should avoid, and the companies going from strength to strength - all in 10 minutes or less. Whether you are new to investing or a seasoned professional, this podcast will get you thinking differently about markets.
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