With a new month here, what better time to consider making some additions to your portfolio.
The market offers plenty of choice, from healthcare and technology to retail and financial services. The key is finding businesses with strong market positions, clear growth drivers, and the ability to keep delivering through different conditions.
With that in mind, here are 10 ASX shares that could be worth buying in May.
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CSL Ltd (ASX: CSL)
CSL is going through a tough period, but it remains one of the highest-quality healthcare companies on the ASX.
The company is a global leader in plasma therapies, vaccines, and specialist medicines. If margins improve and earnings growth strengthens, CSL could offer significant upside from current levels.
HUB24 Ltd (ASX: HUB)
HUB24 is another name worth watching. It operates an investment platform used by financial advisers and their clients. It has benefited from strong inflows as advisers continue to shift away from legacy platforms.
With funds under administration still growing, HUB24 remains well placed to benefit from the ongoing modernisation of wealth management in Australia.
Life360 Inc (ASX: 360)
Life360 continues to scale its global family safety platform.
The company already has a large user base, but the bigger opportunity is monetisation. By adding more services and converting more users into paying subscribers, Life360 has several levers to pull.
If that strategy continues to work, earnings could grow strongly over time.
Macquarie Group Ltd (ASX: MQG)
Another ASX share to consider buying is Macquarie Group. It offers exposure to a global financial services business with a strong track record.
Its operations span asset management, commodities, infrastructure, banking, and capital markets. This gives the group multiple earnings drivers across different market environments.
Macquarie's ability to allocate capital well remains one of its key strengths.
Pro Medicus Ltd (ASX: PME)
Pro Medicus is one of the ASX's standout technology shares.
Its Visage imaging platform is used by major hospitals to handle large medical imaging datasets quickly and efficiently. The company continues to win long-term contracts, particularly in the United States.
With high margins, a growing market opportunity, and radiologist shortages, Pro Medicus remains well-positioned for long-term growth.
TechnologyOne Ltd (ASX: TNE)
TechnologyOne has built a reputation for consistency.
This ASX share provides enterprise solutions to government and large organisations. Its transition to a SaaS model has improved revenue visibility and supported steady earnings growth.
Demand for mission-critical software should continue to support its performance.
Wesfarmers Ltd (ASX: WES)
Wesfarmers remains one of the ASX's most reliable shares.
Bunnings is the centrepiece of the group, supported by Kmart, Officeworks, and its industrial businesses. The company has a long history of disciplined capital allocation and strong execution.
That combination arguably makes Wesfarmers a share worth keeping on the radar.
WiseTech Global Ltd (ASX: WTC)
WiseTech Global provides software for the logistics industry.
Its CargoWise platform helps freight forwarders and logistics providers manage complex global supply chains. The company continues to expand its product suite and international reach.
As logistics becomes more digitised, WiseTech remains well positioned to benefit.
Woolworths Group Ltd (ASX: WOW)
Woolworths offers defensive qualities in a market that can be unpredictable.
The supermarket giant benefits from recurring demand for groceries and a leading position in Australian food retail. While margins can be influenced by costs and competition, its scale remains a major advantage.
This makes Woolworths a steady option in uncertain conditions.
Xero Ltd (ASX: XRO)
Xero continues to build its position as a global cloud accounting platform.
Its software is used by small and medium-sized businesses to manage accounting, payroll, and payments. The company's opportunity is supported by subscriber growth, product expansion, recent acquisitions, and its push into the US.
With a large addressable market and several ways to grow, Xero remains one of the ASX's strongest technology shares.
