With May just around the corner, I have been thinking about where I would put fresh money to work in the current market.
If I had $5,000 to invest, I would be looking for a mix of scale, earnings potential, and clear drivers over the next few years.
Here are three ASX 200 blue-chip shares I would consider.
Image source: Getty Images
Sigma Healthcare Ltd (ASX: SIG)
Sigma has changed a lot over the past couple of years.
The Chemist Warehouse merger has transformed the business into a much larger and more integrated healthcare and retail platform. That has created a very different earnings profile compared to Sigma's past.
What I find interesting is how this positions the company going forward.
It now has significant exposure across both wholesale distribution and retail pharmacy, which can create scale benefits and improve margins over time. As the integration progresses, there is also potential for cost savings and operational improvements.
With earnings expected to grow strongly over the next few years, I think Sigma could look very different as the combined business settles in.
BHP Group Ltd (ASX: BHP)
BHP is one of the largest and most established companies on the ASX, and I think it offers a compelling setup right now.
Iron ore continues to generate strong cash flow, but copper is becoming the most important contributor. And with demand growing due to electrification and infrastructure, copper could be a meaningful growth driver over the next decade.
There is also the Jansen potash project, expected to come online in mid-2027, which adds another long-term growth lever.
When I look at those pieces together, I see a business that is positioning itself for where demand will be strong in the future.
Qantas Airways Ltd (ASX: QAN)
Qantas is another ASX 200 blue-chip share I'd consider in May.
The airline operates in a relatively rational domestic market, which supports pricing and profitability. At the same time, demand for travel remains strong, both domestically and internationally.
One area I think is important is its fleet renewal program. Management has described it as the largest in the company's history, with newer aircraft expected to improve fuel efficiency and reduce operating costs over time. That should support margins and earnings as the program progresses.
Qantas has also been strengthening its balance sheet and returning capital to shareholders, which I think adds another layer to the investment case.
Foolish takeaway
If I were putting $5,000 to work in May, I would look for strong, long-term opportunities.
Sigma offers exposure to a transformed healthcare and retail platform, BHP provides scale, strong cash flow, and long-term commodity demand, and Qantas adds a business with strong demand, improving efficiency, and ongoing investment in its future operations.
Together, I think they offer a balanced way to approach the market right now.
