There are some top ASX growth shares that you should never sell.
You should hold onto your winners for the long-term, which avoids paying tax on capital gains where possible. Lowering your brokerage costs is also a good idea.
Here are some of the best ASX growth shares you should never sell
Altium Limited (ASX: ALU)
There are few businesses on the ASX that provide (ambitious) long-term targets like Altium. The electronic PCB software business has been a great investment under the current management team.
If almost any organisation wants to build a highly technological vehicle or item, they need to use an Altium service (or one of its competitors). Altium already has an impressive customer base including Microsoft, Tesla, Space X, Amazon and so on. Customers are sticky because of how much training it takes to change to another service.
It continues to grow its profit margins, the cash balance and its dividend. It's a great business, though I'd prefer to buy it at a share price of around $30 or under. Altium is one ASX growth share I wouldn't want to ever sell from my portfolio.
Bubs Australia Ltd (ASX: BUB)
Bubs is a very promising infant formula small cap. The company just announced a blockbuster update today that its Bubs Organic Grass Fed Infant Formula will be sold in hundreds of Coles Group Limited (ASX: COL) supermarkets. It also announced a new agreement with Baby Bunting Group Ltd (ASX: BBN).
It isn't guaranteed to follow in the footsteps of any other infant formula brand, but it's doing very well so far. I've been impressed by its strategy of securing its supply chain. There are plenty of other countries that Bubs can be sold into in the coming years.
Revenue continues to grow at a fast pace and the company is currently keeping tight control of costs with the coronavirus. If I owned it in my portfolio I definitely wouldn't want to sell this ASX growth share for a long time.
Wesfarmers Ltd (ASX: WES)
Wesfarmers is quite different to most other shares within the ASX 20. Most of those companies are stuck being a bank, telco or whatever else. Wesfarmers has the ability to change its operating businesses with acquisitions and divestments over time.
This ability to slowly shift over time means that Wesfarmers should never become irrelevant as a company. It generates solid cashflow and pays good attention to shareholder returns.
Bunnings and Officeworks are performing strongly at the moment with people at home needing to work or wanting to do DIY projects. Online retail business Catch has turned into a great acquisition.
I think Wesfarmers is a quality ASX growth share to never sell.
Foolish takeaway
If you're after income then it's clear Wesfarmers is the best pick of the three. However, Altium is on its way to becoming a tech blue chip whilst Bubs has a very exciting future. At the current prices I'd probably go for Bubs because of its smaller size.
