If you are looking to build a reliable portfolio of shares but aren't sure where to start, then don't worry.
Here are six ASX shares in various industries that I believe are worth holding for the long term:
BHP Group Ltd (ASX: BHP)
In the resources sector I think that BHP would be a great option for investors. This is due to its world class operations, their low costs, and the strong free cash flow they generate. Another positive is the diversity of its operations. BHP has exposure to a number of commodities and isn't as reliant on one particular operation as some of its peers.
Commonwealth Bank of Australia (ASX: CBA)
The big four banks may be out of favour at the moment, but their time will come again. So with the banks trading at significant discounts to the prices they were commanding just three months ago, now could be an opportune time to make a patient investment. Due to the overall quality of its operations, I think Commonwealth Bank would be the best option in the financial sector right now.
CSL Limited (ASX: CSL)
In the healthcare sector my top long term pick would be this global biotherapeutics company. I believe CSL is well-positioned to continue growing its earnings at a solid rate due to its leading therapies, growing plasma collection network, and its lucrative research and development (R&D) pipeline. In FY 2019 CSL invested a massive US$832 million into R&D activities across its businesses and will likely invest even more this year. This should ensure it retains its leadership status for the foreseeable future.
Kogan.com Ltd (ASX: KGN)
If you're looking to invest in the retail sector then Kogan could be worth considering. I think the fast-growing ecommerce company could be a market beater over the next decade thanks to the seismic shift to online shopping. At present approximately 10% of all retail spending is made online. I expect online shopping to increase its market share over the next decade and for Kogan to benefit greatly.
Telstra Corporation Ltd (ASX: TLS)
In the telco sector I would go with the largest player, Telstra. Times have been hard for the company over the last few years, but things are starting to look a lot more positive now. This is due to its T22 strategy, the easing of the NBN rollout headwinds, and rational competition in the industry. Overall, I think its shares could provide strong returns for investors over the coming years.
Xero Limited (ASX: XRO)
In the tech sector I think Xero would be a great long term option for investors. It is a leading cloud-based business and accounting software provider which has been growing its top line at a strong rate for years. This has been driven by the quality of its offering and a winning combination of increasing subscriber numbers and average revenue per user. The good news is that it still has a significant market opportunity to grow into.
