Australia’s mini-Berkshire delivers long-term value for shareholders.

LiveWire

2025/10/22

Washington H. Soul Pattinson (ASX: SOL) is a diversified investment house that we at Airlie see as Australia’s own mini-Berkshire Hathaway (the famous investment company led by Warren Buffett). SOL ...

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Soul Pattinson (ASX: SOL) is a diversified investment house that we at Airlie see as Australia’s own mini-Berkshire Hathaway (the famous investment company led by Warren Buffett). SOL ...</p>\n\n<a href=\"https://www.livewiremarkets.com/wires/australia-s-mini-berkshire-delivers-long-term-value-for-shareholders\">网页链接</a>\n\n</div>\n","source":"livewire_stock","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Australia’s mini-Berkshire delivers long-term value for shareholders.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAustralia’s mini-Berkshire delivers long-term value for shareholders.\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">LiveWire</strong><span class=\"h-time small\">2025-10-22 12:35</span>\n</p>\n</h4>\n</header>\n<article>\n<div>\n<p>Washington H. Soul Pattinson (ASX: SOL) is a diversified investment house that we at Airlie see as Australia’s own mini-Berkshire Hathaway (the famous investment company led by Warren Buffett). SOL ...</p>\n\n<a href=\"https://www.livewiremarkets.com/wires/australia-s-mini-berkshire-delivers-long-term-value-for-shareholders\">网页链接</a>\n\n</div>\n\n<div class=\"bt-text\">\n\n\n<p> 來源：<a href=\"https://www.livewiremarkets.com/wires/australia-s-mini-berkshire-delivers-long-term-value-for-shareholders\">LiveWire</a></p>\n<p>為提升您的閱讀體驗，我們對本頁面進行了排版優化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"IE00BK4W5M84.HKD","symbol_name":"HSBC GLOBAL FUNDS ICAV US EQUITY INDEX \"HC\" (HKD) ACC","start_time":0,"source_url":"https://www.livewiremarkets.com/wires/australia-s-mini-berkshire-delivers-long-term-value-for-shareholders","article_id":"2577351613","we_media_id":null,"thumbnails":[],"rights":{"source":"livewire_stock","url":"https://www.livewiremarkets.com/wires/australia-s-mini-berkshire-delivers-long-term-value-for-shareholders","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2577351613","pubTimestamp":1761107712,"columns":[],"sourceInfo":{"source_id":"livewire_stock","name":"Livewire Markets"},"weMediaInfo":null,"summary":"Washington H. Soul Pattinson  is a diversified investment house that we at Airlie see as Australia’s own mini-Berkshire Hathaway . SOL invests its permanent capital for the long term across listed large caps and emerging companies, as well as unlisted property, private equity and private credit. Today it oversees a diversified portfolio .A long track record of adapting SOL has a long history, founded in 1903 and originally being a sole operator of pharmacy stores. In the 1960s and 1970s, SOL began to diversify by expanding into the building material and resources sectors through positions in Brickworks and other ASX-listed companies. A key step change to the SOL occurred in 2021 through the acquisition of Milton Corporation, which increased the scale of SOL by c. A$3.7 billion in assets held primarily in domestic equities. 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Soul Pattinson (ASX: SOL) is a diversified investment house that we at Airlie see as Australia’s own mini-Berkshire Hathaway (the famous investment company led by Warren Buffett). SOL invests its permanent capital for the long term across listed large caps and emerging companies, as well as unlisted property, private equity and private credit. Today it oversees a diversified portfolio (NAV of A$13.2 billion).\n\n\n\n\n\n\n\n\n\nSource: Washington H. Soul Pattinson\nA long track record of adapting SOL has a long history, founded in 1903 and originally being a sole operator of pharmacy stores. In the 1960s and 1970s, SOL began to diversify by expanding into the building material and resources sectors through positions in Brickworks and other ASX-listed companies. A key step change to the SOL occurred in 2021 through the acquisition of Milton Corporation, which increased the scale of SOL by c. A$3.7 billion in assets held primarily in domestic equities. Today SOL holds A$13.2 billion in net assets.\nInvestment philosophy\nThe SOL investment philosophy focuses on identifying long-term superior risk-adjusted returns, with diversification across industry and asset class to allow the portfolio to weather market cycles and generate sustainable returns. As with Berkshire, the beauty of the model is the permanent capital that SOL controls. The company is not like other fund managers with the risk of capital withdrawal ever present, allowing for true long-term investment decisions.\nLong-term outperformance\nSince 1 January 2000, SOL has delivered a compound total return of 13.4% p.a., compared with 8.6% p.a. for the S&P/ASX 200 over the same period. While we often compare SOL to Berkshire Hathaway, SOL’s returns over this time frame are also ahead of Berkshire’s (11.2% p.a. vs. 8.3% p.a. for the S&P 500).\n\n\n\n\n\n\n\n\n\nSource: Factset. Starting date 1 January 200\nCrucially, this outperformance hasn’t relied on 「high beta」 exposures that typically do extremely well in bull markets. SOL’s portfolio leans to defensive, cash-generative businesses, which has historically helped it outperform in down markets – a feature we value given today’s relatively high market valuations.\n\n\n\n\n\n\n\n\n\nSource: Washington H. Soul Pattinson\nCleaner structure post Brickworks merger\nThe attractiveness of the SOL investment has only increased by the recent merger with Brickworks. Brickworks and SOL have historically held a long-term cross-shareholding partnership, which saw Brickworks own 26% of SOL and SOL own 43% of Brickworks.\nThe merger not only cleans up the structure of SOL, but following the capital raise to undertake the merger, it leaves SOL with a net cash balance sheet.\n\n\n\n\n\n\n\n\n\nSource: Washington H. Soul Pattinson\nGreen light to undertake further investments We maintain a high level of confidence in SOL to continue to undertake high shareholder return investments given the stability and long tenure of key investment personnel including: \n\n\n\n\n\n\n\n\n\n*Includes his time as CEO at Milton Corporation\nWith net cash post-merger, SOL has a green light to pursue accretive investments across its opportunity set. In our view, the combination of permanent capital, a proven team, defensive tilt and a simplified structure positions SOL to continue delivering attractive long-term returns for shareholders.\nWritten by David Meehan, Investment Analyst\n\n\n\nETF\nAirlie Australian Share Fund (Managed Fund) (AASF)\nAustralian Shares\n\n\nView\n\n\n\n\n\n\n\nNever miss an update\n\n    Enjoy this wire? 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