Some companies are worth buying and never selling.
They operate in industries with strong long-term demand, have durable competitive advantages, and can reinvest profits to keep growing year after year.
If I had to choose just three Australian stocks to hold forever, these would be at the top of my list.
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CSL Ltd (ASX: CSL)
The first Australian stock to buy and hold forever is CSL. It is one of the world's leading biotechnology companies, specialising in plasma therapies, vaccines, and other specialty medicines.
CSL has built an extensive global network of plasma collection centres, manufacturing facilities, and distribution channels — creating a competitive moat that would be extremely difficult for rivals to replicate.
The company's ongoing US$1 billion+ annual investment in its research and development pipeline also keeps delivering new products and improved treatments, supporting steady revenue and earnings growth over decades.
With rising demand for healthcare globally and the ability to expand into new markets, CSL's growth story is far from over. For long-term investors, it is hard to find an ASX share with a stronger track record.
ResMed Inc. (ASX: RMD)
Another Australian stock that I would buy and hold forever is ResMed. It develops devices and cloud-based software solutions for the treatment of sleep apnoea, chronic obstructive pulmonary disease (COPD), and other respiratory conditions.
ResMed is a market leader in sleep health, with a growing installed base of patients using its connected devices. And with each device sold, its moat widens.
This recurring revenue provides a stable earnings base, while product innovation and the overall growth of its market should drive long-term growth. Especially with sleep disorders still underdiagnosed and awareness increasing.
WiseTech Global Ltd (ASX: WTC)
Finally, WiseTech is another Australian stock I would buy and hold forever. It develops the CargoWise platform, used by logistics providers around the world to manage complex global supply chains. This mission-critical software has high switching costs, which helps retain customers and generate recurring revenue.
The company has expanded steadily through organic growth and acquisitions, adding new functionality and geographic reach. This includes the recent acquisition of E2 open, which expands WiseTech's global presence and capabilities in supply chain management software.
As global trade becomes more complex and supply chains more digitised, WiseTech is well-positioned to benefit.
I believe this leaves it well-placed to continue growing at a strong rate for at least the next decade.
Foolish takeaway
CSL, ResMed, and WiseTech operate in very different industries, but they share the qualities that make a stock worth holding forever: strong competitive advantages, exposure to long-term growth trends, and proven track records of execution.
While no investment is completely without risk, I think these businesses have the kind of staying power that could reward patient investors for decades.
