2 ASX blue chip shares I think every portfolio should hold

Here's why I think CSL Limited (ASX: CSL) and 1 other ASX blue chip share have a place in every investor's portfolio.

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Stating that every Aussie portfolio should hold ASX blue chip shares is a big call. But that's how confident I am that the 2 blue chip ASX shares below will continue to be good investments well into the future.

There are no certainties in investing (apart from taxes, of course), but here's why I think Washington H. Soul Pattinson and Co. Ltd (ASX: SOL) and CSL Limited (ASX: CSL) would be the best shares for any ASX investor to buy and hold for the long-term.

Blue Chip 1) Soul Patts

Soul Patts is one of the oldest (and bluest) companies on the ASX – it was founded back in 1872 and listed on the stock exchange in 1903. Since then, the company has built an impeccable reputation for quality returns. It invests in a concentrated basket of quality ASX shares, which it aims to hold over the long-term. Right now, these include TPG Telecom Ltd (ASX: TPM), Brickworks Limited (ASX: BKW) and New Hope Corporation Limited (ASX: NHC). It has used this portfolio to pay a dividend every year since its inception, which includes the duration of the Great Depression and both World Wars. Soul Patts is also the only company that has delivered 20 years of uninterrupted dividend increases to its shareholders.

This ASX blue chip share won't make you rich overnight, but I think it's an essential share to own for any investor that desires a strong and robust long-term portfolio.

2) CSL

CSL shouldn't be a stranger to any ASX investor these days. This asx blue chip share has managed to blow past all 4 of the ASX banks over the past 5 years to claim the crown of the ASX's largest company. Today, CSL is a global blue chip healthcare giant, with two cutting edge divisions (Behring and Seqirus) that dominate the blood plasma and vaccine spaces respectively. Part of CSL's success story is the focus the company has on Research and Development (R&D), which it invests heavily in every year. This long-term focus has been (and I think will continue to be) the secret to CSL's remarkable success.

CSL resides in an evergreen industry, is still growing at a healthy rate, and has started paying a rapidly rising dividend. As such, I think CSL will continue to be a fantastic investment to hold for the long-term, and (I think) has a place in every ASX investors' portfolio.

Sebastian Bowen owns shares of Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of CSL Ltd. The Motley Fool Australia owns shares of and has recommended Washington H. Soul Pattinson and Company Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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