Great investments are often the ones that do not need constant attention. They just sit in your portfolio and compound year after year, building wealth quietly and consistently.
But not all Australian shares are capable of doing this. So, which ones could be worth considering if you want shares to hold forever?
Here are two Australian shares that I would be happy owning forever, backed by businesses with enduring demand and the ability to navigate change over time. They are as follows:
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Cochlear Ltd (ASX: COH)
Cochlear is an example of a company whose relevance is largely independent of economic conditions.
As the global leader in implantable hearing solutions, Cochlear operates in a highly specialised medical field with significant barriers to entry. Its technology, intellectual property, and long-standing relationships with clinicians give it a competitive position that is difficult to challenge.
What stands out over a full market cycle is the stickiness of Cochlear's ecosystem. Patients often remain with the same implant platform for life, creating ongoing demand for upgrades, accessories, and services. This generates recurring revenue that helps smooth earnings through different environments.
Demographic trends also work in Cochlear's favour. Ageing populations and improved access to healthcare globally continue to support long-term demand, regardless of short-term economic fluctuations.
ResMed Inc. (ASX: RMD)
Another Australian share that could be a top option for investors is ResMed.
It also operates in a part of the healthcare system that does not depend on discretionary spending or economic confidence.
ResMed is a global leader in sleep apnoea and respiratory care devices, serving millions of patients worldwide. Importantly, the condition it treats remains significantly underdiagnosed, which creates a long runway for growth even without favourable economic conditions.
Management estimates that there are over 1 billion people worldwide suffering from sleep apnoea. This gives it a significant growth runway over the next decade and beyond.
Another positive is how embedded its products are in patient care. Once a patient begins therapy, ongoing use, replacement cycles, and software-driven monitoring create recurring demand. This shifts the business away from one-off device sales and toward a more durable revenue base.
ResMed has also invested heavily in digital health platforms and connected devices, which is strengthening relationships with clinicians and patients. That investment allows it to adapt as healthcare delivery evolves, rather than being disrupted by it.
Across different market cycles, demand for effective sleep and respiratory treatment is unlikely to fade, which is why ResMed remains a business I would be comfortable holding forever.
