Washington H Soul Pattinson vs PM Capital Global Opportunities Fund shares

If you’re tossing up between Washington H Soul Pattinson (ASX: SOL) and PM Capital Global Opportunities Fund (ASX: PGF) shares, you’re looking at two very different investment companies. One is a legendary Aussie investment house with more than a century of history; the other is a globally focused LIC aiming to deliver long-term capital growth. Which one might suit your portfolio better? Let’s take a closer look at both.

The case for Washington H Soul Pattinson

Soul Patts, as it’s fondly known, is one of the ASX’s oldest and most respected investment companies. It holds a diversified portfolio, spanning listed and private companies, emerging businesses, real assets like property and agriculture, and more. It counts major stakes in TPG Telecom Ltd (ASX: TPG) and New Hope Corporation (ASX: NHC), with recent growth including the merger of Brickworks into the group.

Notable fundamentals for Soul Patts include:

• Market cap: $16.63 billion — one of the largest and most stable investment groups around.
• P/E ratio: 6.83 — hinting at a relatively undemanding valuation.
• YTD return: Up 19.36% for 2026 so far, showing strong momentum.
• Dividend yield: 2.44% fully franked, with a long track record of steadily increasing payouts.

Its 100% franking is a plus for Aussie income investors, and decades of consistent dividend growth add to its appeal. Soul Patts describes its goal as delivering shareholder returns via both capital growth and steadily increasing dividends — a dual focus.

The case for PM Capital Global Opportunities Fund

PM Capital Global Opportunities Fund is a listed investment company (LIC) set up to give Australians exposure to a portfolio of listed securities across global markets. It aims squarely at long-term capital growth, using the skills of the PM Capital team to pick opportunities outside Australia.

A few key points stand out:

• Market cap: $1.92 billion — much smaller than Soul Patts, but still substantial for a LIC.
• Dividend yield: 4.72% fully franked — easily outpacing SOL on yield.
• YTD return: 5.32% for 2026, lagging SOL over the same period.

Valuation comparison

Here’s how the key numbers stack up, where they’re available:

	Washington H Soul Pattinson (SOL)	PM Capital Global Opportunities Fund (PGF)
Market Cap	$16.63 billion	$1.92 billion
P/E Ratio	6.83	N/A
Dividend Yield	2.44% (100% franked)	4.72% (100% franked)
YTD Return	19.36%	5.32%

Soul Patts sports a much larger market cap, while PGF trades at a yield almost double, but doesn’t provide standard profit metrics. PGF’s income focus shows in its higher yield, while Soul Patts has outperformed on recent growth.

Recent share price performance

The numbers below are based on provided pricing up to 15 September 2026.

Over the last three weeks, Soul Patts’ share price has oscillated between roughly $43.75 and $45.30, with a slightly negative bias in the past few sessions but strong gains overall, consistent with its positive year-to-date return of 19.36%.

PGF shares have traded tightly around $3.15–$3.37 in the same window, with movement mostly sideways to slightly down in recent days. Its year-to-date return is just 5.32%.

Long story short, Sol Patts has provided significantly greater share price growth than PGF in 2026 so far.

Which is the better buy?

If I had to pick between these two today, I’d lean toward Washington H Soul Pattinson. The sheer scale and depth of its diversification — through listed, private, real assets, and credit — gives me confidence in its resilience and ability to ride out market turmoil. It’s hard to argue with more than a century of history and a market cap that dwarfs PGF.

But it’s not just size: SOL has delivered far stronger share price growth this year, and while its 2.44% yield is more modest, that’s backed by a rich history of increases and 100% franking. It also trades at a low price-to-earnings ratio of 6.83, suggesting you’re not overpaying for those assets.

PGF certainly shines on dividend yield — at 4.72%, it’s better for upfront income. And its global approach might suit investors wanting international exposure from Aussie soil. But with less diversification, I view it as a riskier play right now.

For my money, the combination of SOL’s growth, proven management, and ultra-diverse portfolio are hard to beat, especially when share price momentum is humming.

The post Soul Patts vs PM Capital Global Opportunities Fund: Which is better? appeared first on The Motley Fool Australia.

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Motley Fool contributor Laura Stewart has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has positions in and has recommended Washington H. Soul Pattinson and Company Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips. This article was prepared with the assistance of Large Language Model (LLM) tools for the initial draft. Any content assisted by AI is subject to our robust human-in-the-loop quality control framework, involving thorough review, substantial editing, and fact-checking by our experienced writers and editors holding appropriate credentials. The Motley Fool Australia stands behind the work of our editorial team and takes ultimate responsibility for the content published by The Motley Fool Australia.

Santos Ltd (ASX: STO), Ramsay Health Care Ltd (ASX: RHC), and AMP Ltd (ASX: AMP) shares have climbed to fresh annual highs in Wednesday trade as the S&P/ASX 200 Index (ASX: XJO) swings into the green.

Here’s what has happened, and what brokers tip next.

Santos shares

The ASX energy shares have climbed over 2% to $8.74 at the time of writing in what is the highest recorded share price for Santos since January 2020. Today’s increase means the shares are now 42% higher for the year-to-date and 14% higher than 12 months ago.

It looks like the oil and gas major’s shares are enjoying tailwinds from a climbing oil price. According to Trading Economics, crude oil is trading around US$104 per barrel on Wednesday. This is a retreat from a high of US$105 per barrel yesterday, but it still represents a 24% increase in the price of crude oil over the past month alone. 

Prices are rising amid new drone attacks and ongoing conflict in the Middle East which have restricted oil supply even further. 

And investment bank Goldman Sachs said recently that it thinks crude oil could rise above US$120 if production remains well below pre-conflict levels. 

Experts are bullish that Santos shares can keep climbing higher, too. TradingView data shows that all brokers have a strong buy rating on the stock. The $8.99 average target price implies around a 3% upside at the time of writing.

Ramsay Health Care shares

Ramsay Health shares are also up around 2% to a multi-year high of  $54.64 at the time of writing. The share price flew higher in late-August off the back of a healthcare-sector wide rebound and the company’s impressive FY26 results announcement. 

Ramsay Health shares are now up around 58% for the year-to-date and 63% higher than 12 months ago.

For FY26, the company reported a 22.9% increase in its underlying net profit after tax (NPAT) and a 11.8% increase in its underlying EBIT. Revenue also climbed 4.2%. Shareholders also received a dividend increase, up 13.8% to 91 cents per share for the full-year FY26.

Looking ahead, Ramsay expects to report EBIT growth and further margin improvement in FY27, with ongoing focus on cost management, activity growth, and capital discipline. 

The company is also moving ahead with plans to separate its 52.79% stake in Ramsay Santé, which owns hospitals across Europe.

But it looks like the experts want to see more evidence that the company can keep growing. TradingView data shows the majority of brokers have a hold rating but the $51.49 average target price now implies a downside of around 6%.

AMP shares

AMP shares are up around 0.5% to $2.51 at the time of writing on Wednesday. This is the highest share price AMP has traded at since November 2018. The shares are also up an impressive 37% for the year-to-date and are 39% higher than a year ago.

Ongoing geopolitical tensions and concerns about Australia’s inflation data weighed heavily on financial shares like AMP throughout the first half of the year.

But the diversified financial services company continues to post some strong financial results. In mid-July it announced first-half NPAT guidance of $170 to $180 million, significantly higher than the $131 million reported for the same period last year. Investors rushed to buy the shares and sent the price flying 22% higher within a week.

Then, early last month AMP posted its first-half FY26 results, including a 33% year-on-year increase in underlying NPAT to $174 million, an 8.2% year-on-year increase in assets under management (AUM) and a 33% increase in AMP’s Platforms net cash flows increased by 33%.

Again, investors were thrilled and the share price has continued climbing since the announcement.

TradingView data shows that the majority of brokers have a buy rating on AMP shares. But after such a strong rally recently, the average $2.49 target price now implies a downside of around 1%.

The post Santos, Ramsay Health Care, and AMP shares reach new 52-week highs: Can they keep climbing? appeared first on The Motley Fool Australia.

More reading

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• 5 things to watch on the ASX 200 on Wednesday
• Worried about a downturn? 3 ASX shares and 3 ETFs built to weather it
• Santos shares slide from fresh multi-year high: What’s next for the ASX energy stock?
• Santos shares are up 40% in 2026. Here’s why I’d still buy them today

Motley Fool contributor Samantha Menzies has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

September has been a rough month for our local share market.

The S&P/ASX 200 Index (ASX: XJO) has fallen in five of its past 6 sessions, including another 0.88% decline on Tuesday.

Wednesday is finally giving investors some relief, with the benchmark index up 0.26% to 8,695 points at the time of writing.

That still leaves the ASX 200 down around 2.5% over the past week and 4.6% over the past month. The index has now slipped slightly into negative territory for 2026.

So, is the market starting to find its feet?

Buyers are starting to come back

There is a bit more support under the market today than we have seen recently.

At the latest check, 105 of the top 200 shares were higher, compared with 84 lower and 11 unchanged.

The gains are being helped along by some of the ASX’s biggest resources stocks.

BHP Group Ltd (ASX: BHP) shares are up 1.13% to $59.92, while Rio Tinto Ltd (ASX: RIO) shares have gained 0.81% to $165.83.

Fortescue Ltd (ASX: FMG) shares are also 1.05% higher at $16.39.

Energy shares are doing even better, with oil prices still elevated as tensions in the Middle East continue.

Woodside Energy Group Ltd (ASX: WDS) shares are up 3.12% to $33.36, and Santos Ltd (ASX: STO) shares have climbed 2.22% to $8.74.

There’s still plenty to watch

That being said, one better session doesn’t mean the recent weakness is over.

The ASX 200 closed at 9,127 points on 26 August, which leaves it more than 400 points below that level today.

There’s also plenty happening outside Australia that could keep investors on edge.

Oil prices remain high, while the US 10-year Treasury yield has pushed above 5%, adding another challenge for share markets.

Wall Street finished lower again overnight, with the Dow Jones Industrial Average (DJX: .DJI) falling 0.63%, the S&P 500 (SP: .INX) down 0.45%, and the Nasdaq Composite (NASDAQ: .IXIC) dropping 0.78%.

Investors are now waiting for the Federal Reserve’s next interest rate decision and any clues on what could come after it.

Foolish takeaway

I wouldn’t read too much into one positive session just yet.

The ASX 200 has been under pressure for most of September, so today’s rise could simply be a dead-cat bounce.

What I’d rather see is the index put together a few decent sessions and start working its way back towards 8,800.

Until that happens, I’d be careful about calling the recent sell-off over.

The post The ASX 200 is finally rising. Is the sell-off running out of steam? appeared first on The Motley Fool Australia.

More reading

• Santos, Ramsay Health Care, and AMP shares reach new 52-week highs: Can they keep climbing?
• Fortescue shares break a 4-day losing streak as $150 million legal fight heats up
• Why I’d buy and hold BHP shares for 10 years
• How much passive income could I earn from a $650,000 superannuation balance?
• 5 things to watch on the ASX 200 on Wednesday

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended BHP Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.