Baza Capital Investor Podcast

William Sandover and Brayden McCormack from Baza Capital review the Baza funds' performance for the March 2026 quarter, discuss market drivers and the impact of the Iran conflict on portfolios. The episode covers the Baza Special Opportunities Fund's deep value and special situations activity (including cases like Schaffer, Adrad, Winsome and Raptor) and updates on the Baza High Conviction Fund with company highlights such as Viva Leisure and Symal Group. Listeners will find fund performance, thematic insights (including data centre demand and vanadium flow batteries), portfolio changes and how the team is allocating capital during heightened volatility.

In this episode, William Sandover and Brayden McCormack review Baza Capital’s December 2025 quarter and discuss the market dynamics that shaped performance across both funds. For Baza High Conviction, Brayden reflects on a strong end to the year and continued rotation into smaller equities and junior mining, validating several long-held theses. The team revisits electrification as a key thematic driver in 2024 and 2025, and outline why water is emerging as the next major thematic opportunity, with case studies including Vysarn, SciDev, and Fluence. The discussion also covers the ongoing renaissance in junior mining, with a focus on copper, tin, and gold, including a case study on Alma Metals. For Baza Special Opportunities, Will reviews the fund’s strongest calendar year on record and discusses beneficiaries of the commodities boom, including Euroz Hartleys, alongside a deeper look at Elementos. 

In this episode, Brayden and Will review Baza Capital’s September quarter and discuss what drove outperformance across both funds. For Baza High Conviction, Brayden explains the rotation into smaller equities and junior mining – validating some long-held theses – and why valuations in core holdings remain attractive. Will breaks down record results for the Baza Special Opportunities Fund, plus terminology changes for the different investment categories within the fund. Case studies include Hazer Group (ASX:HZR), Vertex Minerals (ASX:VTX), Peak Rare Earths (ASX:PEK), and Emyria (ASX:EMD), with additional commentary on Baza’s latest Strategic Advisory Board appointment, Kate Munnings.

In this episode Brayden and Will provide an update on fund performance for the June quarter and the month of July. Will explains the strong performance of the Baza Special Opportunities Fund in recent times, and discusses opportunities in property – both realised and unrealised. Brayden shares early indicators on the strength of August reporting season on the ASX, and where the next round of opportunities in junior mining might come from. 

In this episode Brayden and Will provide an update on fund performance in the context of prevailing geopolitical uncertainty and trade wars. They also introduce Jacqui Courtney, a new Strategy Advisory Board member, and Emma Wyndham-Smith, Investment Consultant. Baza Special Opportunities’ low beta is discussed, as well as new holding Boom Logistics and the fund’s current high cash levels. Several compelling long term holdings for Baza High Conviction are detailed, including deep dives on environmental services company, SciDev, and copper developer, New World Resources. 

In this episode, Will and Brayden analyse the performance of the Baza Special Opportunities Fund and the Baza High Conviction Fund for the final quarter of 2024, and introduce Phil Vernon, the first addition to the new Strategic Advisory Board. They delve into several key holdings of the fund, including AV Jennings, Euroz Hartleys, and a profitable Australian software company that’s making waves in European energy markets.  

In this episode, Will and Brayden assess the performance of the Baza Special Opportunities Fund and the Baza High Conviction Fund during the September 2024 quarter. They discuss various holdings including Touch Ventures (ASX: TVL), Vysarn (ASX: VYS) and Nido Education (ASX: NDO). They also discuss their approach to investing around mergers & acquisitions and recent changes to portfolio concentration.

William and Brayden dive into the performance of their funds, market conditions, and thematic ideas. They highlight the High Conviction Fund's performance and the electrification thematic within their portfolio. They also discuss Baza's Special Opportunities Fund, covering investment strategies and a few specific cases.