I've been looking at the market this month and have identified a number of ASX shares that I think could be buys.
These are businesses I understand, believe in, and would be happy to hold through ups and downs. Some are market leaders, some are in recovery mode, and others are still proving their growth stories.
Together, they give me a mix of quality, growth, income, and optional upside.
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Commonwealth Bank of Australia (ASX: CBA)
CBA remains the benchmark for Australian banking in my view. Its scale, pricing power, and customer stickiness are incredibly hard to replicate. Yes, it trades at a premium, but I believe that premium reflects reliability and execution rather than excess optimism.
Xero Ltd (ASX: XRO)
Xero has been sold off alongside global software peers, but I don't think the business itself has missed a beat. Subscriber growth is holding up, margins are improving, and its ecosystem advantage remains intact. Long term, I still see this as a business that can quietly compound value.
BHP Group Ltd (ASX: BHP)
BHP offers a combination I really like. That is copper exposure, strong free cash flow, and a balance sheet that's built to handle cycles. Even with the share price near highs, I'm comfortable owning it for income today and long-term demand driven by electrification.
Hub24 Ltd (ASX: HUB)
Hub24 is an ASX share that continues to impress me with its ability to take market share. Adviser trust, product depth, and consistently strong net inflows give me confidence in the growth runway. I still think this investment and superannuation platform is a structural growth story that has a long way to run.
Megaport Ltd (ASX: MP1)
Megaport is definitely the higher-risk name on this list, but I think the upside is material. Demand for its flexible, software-defined networking is growing strongly. If execution continues, I believe sentiment could shift faster than many expect.
TechnologyOne Ltd (ASX: TNE)
TechnologyOne is one of the most consistent software shares on the ASX, in my opinion. Recurring revenue keeps rising, churn remains low, and margins are strong. It's not flashy, but I really like the way it compounds steadily over time.
Wesfarmers Ltd (ASX: WES)
Wesfarmers gives me exposure to high-quality retail cash flows backed by disciplined capital allocation. Bunnings alone justifies long-term ownership in my eyes, with additional optional upside from the rest of the portfolio.
Qantas Airways Ltd (ASX: QAN)
Qantas looks like a very different ASX share to the one we saw a few years ago. Capacity discipline, a newer fleet, and improving dividends make this more than just a cyclical airline play in my view.
Zip Co Ltd (ASX: ZIP)
Zip has clearly moved past survival mode. With tighter credit settings and a leaner footprint, I don't think the buy now, pay later company needs explosive growth to deliver decent returns. If it simply keeps executing, I think the upside could surprise.
ResMed Inc. (ASX: RMD)
ResMed continues to deliver robust revenue and earnings growth, supported by global demand for sleep and respiratory care. For a healthcare leader with genuine global reach, I'm happy to add on weakness and hold long term.
Foolish takeaway
This isn't about finding the perfect entry point. It's about owning businesses I genuinely believe can grow, adapt, and return capital over time. For me, these 10 ASX shares fit that bill and are names I'd be comfortable backing from here with a long-term mindset.
