Three thousand dollars is a good starting point for buying ASX shares.
The important element to focus on is diversification.
The three companies below are chosen to do different jobs.
One pays you now, one is geared to markets, and one is as close to defensive as our market gets.
Image source: Getty Images
1. Woodside Energy Group Ltd (ASX: WDS)
Woodside is the income anchor.
The shares trade near $32.33 on a price-to-earnings ratio of about 14.5 and a fully franked yield close to 5%.
That is the cheapest multiple and the highest yield of the three by a wide margin.
However, the company is still performing. The first half of calendar 2026 demonstrated this.
Operating revenue rose 13% to US$7.45 billion and net profit after tax reached US$1.67 billion.
Production came in at 86.5 million barrels of oil equivalent, and the interim dividend was 57 US cents fully franked at an 80% payout ratio.
Gearing is at 20.6%, marginally above the target range, which is the one number worth watching.
There are many things to like about this company.
2. Macquarie Group Ltd (ASX: MQG)
Macquarie Group is the geared exposure to markets.
FY26 net profit rose 30% to $4.85 billion, return on equity recovered to 14.0%, and earnings per share climbed 30% to $12.77.
The company's full-year dividend was $7.00, though only 35% franked, which is important if you are buying this stock for income.
Importantly, assets under management reached $748 billion at 30 June, up 4% in a quarter.
Chief executive Shemara Wikramanayake described the year in characteristically measured terms:
Each of our businesses used its specialist expertise in navigating the current environment, identifying opportunities that support long-term growth and delivering positive outcomes for our clients and communities.
At current levels the shares trade on a price-to-earnings ratio near 19.7, which is not obviously cheap.
The future investment case depends on Commodities and Global Markets and Macquarie Capital both still running hot.
3. Wesfarmers Ltd (ASX: WES)
Wesfarmers is the awkward stock in this list.
Results were good: FY26 revenue rose 3.4% to $47.3 billion and net profit excluding significant items rose 8.3% to $2.87 billion.
Bunnings lifted earnings before tax 5.1% to $2.46 billion and Kmart Group added 6.0% to $1.11 billion.
The company's full-year dividend rose 7.8% to $2.22 fully franked.
The problem however is the price.
At $77.30 the shares trade on a price-to-earnings ratio above 30 for a business growing revenue at 3.4%, and the broker consensus sits at a modest sell.
I still want it here, because a strong Australian dollar is lowering Kmart's landed costs and the shares are already down more than 13% over twelve months.
Managing director Rob Scott pointed to the operating discipline behind the result:
Our businesses focused on mitigating cost pressures through productivity initiatives and were able to deliver more value, better service and increased convenience for our retail and business customers.
Why these ASX shares work together
They barely overlap.
Woodside is leveraged to LNG prices and a project starting up this quarter.
Macquarie rises and falls with market activity and deal flow.
Wesfarmers depends on Australian households and imported goods.
A poor year for one does not mean a poor year for the others.
Foolish takeaway
None of these three ASX shares are bargains, and only Woodside looks cheap.
What the current package gives you is a 5% franked yield, exposure to global markets, and a defensive retailer bought after a 13% fall.
Woodside is the one I would size largest, because the dividend is paid whether or not the share price cooperates.
Wesfarmers is the one that needs the most patience, given where the multiple sits.
Three thousand dollars invested this September will not change your life, and that has never been the point of buying ASX shares.
