I believe that buy and hold investing is one of the best ways to grow your wealth.
But which ASX 200 shares could be top picks for long-term focused investors? Here are three that I would buy and hold for decades:
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CSL Ltd (ASX: CSL)
While recent years have been tough for this biotechnology giant, I still believe it remains one of Australia's highest quality companies.
CSL is best known for its plasma-based therapies and influenza vaccines, serving millions of patients across the world. I think the ASX 200 share is a compelling option due to its long-term growth runway and world-class R&D capability. The company is constantly investing heavily in R&D to ensure that it has a pipeline of lucrative products to drive growth long into the future.
Another positive is that due to the life-saving nature of its products, CSL has proven resilient during tough economic periods. This is a quality that I would want from a buy and hold investment.
And with its shares down sharply and trading close to a 52-week low, now could be an opportune time for patient investors to load up on this quality stock.
Megaport Ltd (ASX: MP1)
Another ASX 200 share that I think could be a great long term pick for investors is Megaport.
It is a leading provider of Network as a Service (NaaS) solutions, enabling on-demand connectivity between businesses and cloud service providers.
Megaport has been growing at a solid rate for many years and appears well-placed to continue this trend for the foreseeable future thanks to the AI boom.
In response to growing demands of AI workloads, the ASX 200 share recently launched its AI Exchange (AIx), which is a dynamic ecosystem designed to support AI solution development. AIx offers flexible, high-performance connectivity to a range of services, including GPU-as-a-Service (GPUaaS) providers and third-party AI models, enabling rapid scaling and innovation.
Its infrastructure upgrades, such as the deployment of 100G ports and the expansion of its global network, also position it to meet the increasing bandwidth and low-latency requirements of AI applications.
Temple & Webster Group Ltd (ASX: TPW)
Finally, I think that Temple & Webster could be an ASX 200 share to buy and hold.
It is Australia's leading online furniture and homewares retailer, with an asset-light, digital-first business model that allows for scale and adaptability.
While many retailers have been struggling with macroeconomic headwinds, Temple & Webster continues to grow strongly, delivering stellar growth in FY 2025 and reporting a strong start to the new financial year.
And with a growing private label portfolio, expansion into new categories, and a huge addressable market still shifting online, it appears well-placed to continue this positive form long into the future.
