S&P/ASX 200 Index (ASX: XJO) shares are up 0.7% at the time of writing amid better-than-expected inflation data for the June quarter on Wednesday.
ASX 200 shares enjoyed a good run in FY25, rising 9.97% and delivering total returns, including dividends, of 13.81% to investors.
Many ASX 200 blue-chip shares are trading at near record highs today.
Here, we profile four blue-chips that experts say are worth holding if you already own them, but are too pricey to buy now.
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ASX 200 blue-chip shares: Hold 'em… but don't buy more
Woolworths Group Ltd (ASX: WOW)
The Woolworths share price is $31.33, up 1.2% on Wednesday.
On The Bull this week, John Athanasiou from Red Leaf has a hold rating on Woolworths shares.
Athanasiou said:
Woolworths is a defensive retail giant with a commanding market share that generates consistent cash.
While resilient, headwinds from inflation, supply chain disruptions and cautious consumer spending during fiscal year 2025 may pressure margins.
The company's strong brand and balance sheet make it a reliable choice to hold through economic cycles.
However, with limited growth catalysts on the horizon, Woolworths is best held for stability rather than aggressive upside.
Northern Star Resources Ltd (ASX: NST)
The ASX 200's largest gold stock is up 0.4% to $15.98 per share today.
Damien Nguyen from Morgans has a hold rating on this ASX 200 blue-chip share.
Nguyen told The Bull last week:
The stock was recently down by almost 30 per cent from its 2025 peak, driven by softer-than-expected production and a cost-heavy outlook for fiscal year 2026.
Operational challenges at key sites and planned shutdowns raised concerns, but the company still delivered within guidance for fiscal year 2025 and maintains a strong balance sheet.
For existing investors, it may be worth staying the course. Combined with a positive outlook for gold prices, the company has scale and solid assets which could support a recovery in its share price once operational headwinds ease.
Commonwealth Bank of Australia (ASX: CBA)
The CBA share price is $177.16, up 1.7%% on Wednesday.
Athanasiou has a hold rating on this ASX 200 blue-chip bank share.
He says:
The CBA remains Australia's biggest and most profitable bank, renowned for reliable dividends and steady earnings.
Trading at a premium, much of its upside is priced in, limiting near term catalysts.
Its strong capital base and defensive earnings make it a dependable long term hold, particularly for income investors.
However, slowing credit growth and margin pressures suggest cautious expectations ahead.
Macquarie Group Ltd (ASX: MQG)
Macquarie shares are up 0.8% to $217.06 at the time of writing.
Elio D'Amato from EnviroInvest says investors should hold on to this ASX 200 blue-chip share.
He said:
Macquarie's full year result in May showed flat profit growth, but a strong capital position and dividend lift.
MQG remains a global leader in green infrastructure and energy transition financing, which is likely to benefit from increasing public and private spending on decarbonisation.
With macro risks still in play, we suggest holding for income and options on a clean energy rebound.
