Top ASX growth shares that you can hold forever and never sell are rare.
Never selling means benefiting from not paying brokerage and not causing capital gains events then consequently paying the tax on those gains.
However, it’s only a good idea to hold great shares for the long-term, or else you may be locking yourself into mediocre returns. That’s why I don’t think you should ever sell these three shares:
Xero Limited (ASX: XRO)
Xero is one of the world’s leading accounting software businesses, if not the best. Its 100% online cloud offering is very attractive for users who want access flexibility. It offers so many automation, time-saving tools and other options that make it a clear winner for everyone looking for a great provider at a reasonable price. Which is why it’s winning so many new subscribers every year in Australia and abroad.
The monthly subscription payments to Xero make it a very attractive, reliable business. Those subscription payments are at a high gross profit margin and are helping fund Xero’s investment for more growth here and internationally. It’s rare to find a business on the ASX which is generating so much growth in the UK, the USA and other countries.
Xero will a solid business to own as long as there continues to be businesses and taxation reporting obligations.
Altium Limited (ASX: ALU)
Altium is one of the world’s best electronic PCB software businesses. It’s used by the world’s leading engineers in a variety of industries. Some of its large clients include Tesla, Space X, NASA, Boeing, John Deere, Google, Bosch, Microsoft, Lenovo, HP, Amazon, Disney, Apple, Fitbit, Qualcomm and Broadcom.
The world is only going to get more technological from here and Altium is one of the companies that is enabling that change. Altium has growing revenue, growing profit margins, growing dividends and an increasingly impressive balance sheet – it’s debt free with the cash balance going up each year.
Brickworks Limited (ASX: BKW)
Building properties with bricks has probably been the best construction methods for centuries and I can’t see that changing any time soon. This company is the leading brickmaker in Australia. Brickworks is also involved in other building products like roofing, cement and masonry.
Its other assets are also excellent, long-term plays like its large stake in an investment company and a 50% holding of an industrial property trust.
In the future we could see plenty of growth come from the US division as well after Brickworks recently acquired some American brickmakers.
Competition is something to be aware of with all three businesses, but as long as that doesn’t become a factor then I think all of them could be top holdings for at least the next decade.
But I think there are some stocks that are even better long-term ideas like these ultra-reliable shares.
When Edward Vesely -- The Motley Fool Australia's resident dividend expert -- has a stock tip, it can pay to listen. With huge winners like Dicker Data (up 126%) and Collins Food (up 79%) under his belt, Edward is building an enviable following amongst investors that are planning for retirement.
In a brand new report, Edward has just revealed what he believes are the 3 best dividend stocks for income-hungry investors to buy now. All 3 stocks are paying growing fully franked dividends giving you the opportunity to combine capital appreciation with attractive dividend yields.
Best of all, Edward’s “Top 3 Dividend Shares To Buy For 2020” report is totally free to all Motley Fool readers.
Tristan Harrison owns shares of Altium. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Xero. The Motley Fool Australia owns shares of Altium. The Motley Fool Australia has recommended Brickworks. 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.