Reshared via Equity Mates Investing Podcast:
What does investing look like when you never have to sell? Soul Patts has been listed since 1903, giving CEO Todd Barlow a rare advantage: permanent capital and the freedom to invest wherever he sees the best opportunity. Todd joins Bryce and Alec to explain why Soul Patts is sitting on almost $3 billion in cash, where he sees risks building in private credit, why energy is his preferred ‘no regrets’ AI trade and why Bitcoin still isn’t making the portfolio.
In this episode:
00:00 123 years of investing
02:14 Meet Soul Patts CEO Todd Barlow
03:34 The investment philosophy behind Soul Patts
07:01 The power of permanent capital
10:18 Inside the private markets portfolio
13:12 Is private credit getting risky?
17:09 Where Todd sees opportunities today
18:24 Why Soul Patts is sitting on almost $3 billion in cash
22:57 The big themes across the Soul Patts portfolio
23:59 Why Soul Patts sold $1.9 billion of industrial property
26:06 How Todd is investing in the AI boom
30:54 Where Soul Patts goes next
ETFs & Stocks mentioned: Washington H. Soul Pattinson (ASX: SOL), New Hope Corporation (ASX: NHC), TPG Telecom (ASX: TPG), Brickworks (formerly ASX: BKW), Goodman Group (ASX: GMG)