My top 5 ASX shares to buy right now

As we look to build out our portfolios for the year ahead, check out my top 5 ASX shares to buy right now after a big year for the ASX 200.

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After a record-breaking year for Aussie equities, check out my top 5 ASX shares to buy on the S&P/ASX 200 (INDEXASX: XJO) right now.

Magellan Financial Group Ltd (ASX: MFG)

Magellan tops the list of my ASX shares to buy right now after an outstanding 2019.

Strong fund inflows and decent performance have put Magellan ahead of most of its wealth management rivals this year, with the exception of Macquarie Group Ltd (ASX: MQG).

The Aussie wealth manager was the best performer amongst the ASX 200 Financials and there's no reason why that can't continue next year.

Nanosonics Ltd (ASX: NAN)

Nanosonics has been one of the top performers on the ASX 200 this year.

The group has led the way in infection prevention solutions and several research and development (R&D) breakthroughs have lifted its valuation higher.

Nanosonics is one of those ASX shares that I'd buy right now given its strong earnings results and share price performance in 2019.

CSL Limited (ASX: CSL)

CSL is one ASX share that I'd love to buy right now, purely for its long-term performance.

You'd have to be brave to bet against the CSL share price, given it is up more than 30,000% since its IPO.

A proven long-term performer with strong earnings, CSL could be in the buy basket for 2020.

Xero Limited (ASX: XRO)

Xero is my favourite of the WAAAX tech shares right now.

The Aussie accounting software platform has had a successful 2019 and recently signed its largest-ever client in RSM Australia.

Strong customer retention and acquisition has fuelled Xero's share price 94.21% higher this year.

Harvey Norman Holdings Ltd (ASX: HVN)

Harvey Norman is a blue-chip retailer with long-term success in both its operations and its ASX performance.

The Aussie retailer is one of the top ASX dividend shares and has seen strong share price growth this year. There is also the potential for strong Christmas and Boxing Day sales to provide a boost in January.

Kenneth Hall has no position in any of the stocks mentioned. 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 Macquarie Group Limited and Nanosonics Limited. The Motley Fool Australia owns shares of Xero. 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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