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.
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12:53
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12:53
Buy Hold Sell: 3 ASX stocks built to handle tough conditions
Winter might be over, but in markets, the clouds can roll in at any time. And when they do, only the sure-footed survive. With the Melbourne Spring Racing Carnival in full swing, we’re once again taking inspiration from the track - this time, looking for the “wet-track wonders” of the ASX.
These are the companies that can handle tougher terrain, those with strong balance sheets, reliable earnings, and management teams that know how to keep moving forward when the ground gets heavy.
In this episode of Buy Hold Sell, Livewire’s Chris Conway is joined by Marcus Ryan from Yarra Capital Management and Nick Pashias from Antares Equities. Together, they’ll explore what defines true resilience in the sharemarket and where investors might find the best footing if conditions deteriorate.
Before they dive into the stocks, Chris asks Nick what traits he looks for in businesses that can weather the storm - from fiscal discipline and predictable cash flows to that all-important pricing power. Marcus then weighs in on which sectors tend to thrive when the economic going gets tough.
As well as analysing three ASX names, for good measure, the guests each share a stock in their portfolio that they might look at differently if conditions head south.
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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