There are certain S&P/ASX 300 Index (ASX: XKO) shares that have enormous potential over the next decade, making them strong buys for a buy and hold strategy.
When we're investing with the long-term in mind, it gives us a longer timeframe for the investment to play out to its full potential.
I wouldn't want to invest in businesses with low growth potential. I'd focus on ASX shares that can compound their underlying value significantly over the years.
I'm already backing the two businesses I'm writing about – they are two of my largest positions, and I recently bought more shares of both of them.
Tuas Ltd (ASX: TUA)
Tuas is a Singapore-based ASX telco share.
One of the key aspects of this appealing ASX 300 share is its strong market share growth in the country. At the end of the second half of FY25, the business had 1.25 million subscribers, representing a 19% year-over-year increase.
The subscriber growth is helping revenue and profit soar. FY25 revenue climbed 24% to $151.3 million, and operating profit (EBITDA) grew by 38% to $68.4 million.
When profit rises faster than revenue, that implies rising profit margins thanks to operating leverage. The FY25 EBITDA margin improved to 45%, up from 42% in FY24.
Tuas boasts that it's increasing subscribers thanks to an "expanded plan mix with generous inclusions that caters to a wide array of customers".
The ASX 300 share also recently completed a capital raising to fund its acquisition of M1, another competitor in Singapore. This will significantly increase the company's profitability and give it a greater market share in both mobile and other areas of the Singapore telco market. In the preceding 12 months, M1 reported a net profit after tax (NPAT) of S$74.3 million.
Finally, I'm optimistic the company can expand into other Asian markets, unlocking a greater addressable market to target.
I think Tuas could be a significantly larger business in 10 years.
Washington H. Soul Pattinson and Co. Ltd (ASX: SOL)
Soul Patts is an investment conglomerate that has been operating for over 120 years, and I fully expect it will be a solid investment for another 10 years.
While it started as a pharmacy business, it has since divested that business and built a diversified portfolio of various assets.
Soul Patts is invested in various areas, including resources, telecommunications, industrial properties, other real estate, swimming schools, agriculture, financial services, credit, electrification, and many more. In a recent shareholder presentation, the company highlighted it's also looking for international opportunities too – it has already started investing offshore, making it seem even more appealing to me as a buy and hold investment.
The business steadily puts additional funds into new investments, unlocking further long-term growth. Impressively, the ASX 300 share has increased its annual ordinary dividend every year since 1998. Those growing payouts make it easy for me to stay committed over the long term because I receive increasing payments every year.
Pleasingly, over the five years to 23 September 2025, Soul Patts shares returned an average of 15.2% per year, beating the S&P/ASX 200 Index (ASX: XJO) total return by an average of 2.2% per year.
I think the company's growth rate could continue to be pleasing over the next decade and that makes this an appealing buy and hold investment.
