If you're on the lookout for buy and hold options, then the three ASX shares listed below could be worth a closer look.
All three shares have long runways for growth over the next decade, which could make them good candidates for long term investments.
Here's what you need to know about them:
Altium Limited (ASX: ALU)
Altium is the printed circuit board (PCB) design software provider behind the Altium Designer and cloud-based Altium 365 platform. The company also has a number of complementary businesses such as the NEXUS workflow solution and the Octopart search engine. Over the last few years, Altium has carved out a leading position in this growing market. It is now aiming to dominate it. Management expects this to lead to the doubling of its revenue between now and FY 2026.
Kogan.com Ltd (ASX: KGN)
Kogan is Australia's leading ecommerce company. While FY 2021 was a very disappointing year due to inventory issues, lessons have been learned and it is now time to look to the future. And that future appears very positive for Kogan. This is due to the company's strong market position, growing private label offering, recent acquisitions, and the structural shift to online shopping.
PointsBet Holdings Ltd (ASX: PBH)
PointsBet is a sports betting company that has been growing at a rapid rate over the last couple of years thanks to the increasing popularity of mobile sports betting and its US expansion. For example, in FY 2021, the company delivered a 228% increase in turnover to $3,781.4 million. This was driven by a 117% annual increase in Australian active clients to 196,585 and a 661% increase in US active clients to 159,321. The good news is that it still has a massive market opportunity in the US to grow into over the next decade.
