3 Top TSX Stocks to Park Your Cash for 10 Years

Algonquin Power & Utilities stock, Docebo stock, and Shopify stock could be ideal assets for long-term investors to buy and hold for at least a decade.

| More on:
data analytics, chart and graph icons with female hands typing on laptop in background

Image source: Getty Images

Investors in the Canadian stock market have been enjoying a good run in 2021, and things seem to be improving, as the country prepares to reopen. At writing, the S&P/TSX Composite Index is up by 14.45%, and it seems like the strong run for the Canadian stock market is going to continue for the rest of the year.

If you have a long investment horizon and the capital to invest, I will discuss three of the top TSX stocks in which you could park your capital for at least the next 10 years for substantial returns.

Algonquin Power & Utilities

Algonquin Power & Utilities (TSX:AQN)(NYSE:AQN) is one of the first stocks on my list of the top stocks to buy if you have a long investment horizon. The dependable utility stock is an ideal asset to have in your portfolio to balance out the possible volatility brought on by high-growth stocks that you might own. Utility stocks are never an exciting prospect to consider, because the companies don’t offer stellar growth figures. However, these stocks provide much-needed stability and mitigate losses during bear market conditions.

Algonquin Power & Utilities offers you that stability with the additional promise of growth through its focus on the renewable energy sector. The company’s wind, hydro, and solar power facilities give it exposure to a booming industry that could become massive in the coming years, making it an ideal long-term investment to consider.


Docebo (TSX:DCBO)(NASDAQ:DCBO) is a high-priced stock, but one that could be worth having on your radar as a long-term investor. The stock is not nearly as expensive as some of the other Canadian tech sector giants, but it is not the cheapest option to consider either. The tech stock is currently trading at a 5.81% discount from its all-time high from December 2020, and it appears to be on track to surpass its pre-pandemic valuation soon. It could be a wise time to establish a position in the stock.

Docebo’s virtual training platforms became popular in 2020, as the pandemic struck North America, due to the rise of the work-from-home culture. The sudden surge in remote work made the company’s cloud-based products invaluable to its customers. While many Canadians have started to return to the office for work, remote work will continue to dominate the professional landscape for years to come, making Docebo an excellent long-term investment to consider.


Shopify (TSX:SHOP)(NYSE:SHOP) is arguably the best stock to consider if you are thinking of investing in technology stocks. The stock is one of the most expensive assets you can consider. Trading for almost $1,900 per share at writing, Shopify stock is up by a staggering 5,160% in just over six years of being a publicly traded company.

While the next six years might not provide you with similar returns of 50 times its current valuation, the company has a lot of room to grow. The stock has consistently beaten expectations and the broader stock market. There is no reason to believe that the stock will not continue its amazing run.

Foolish takeaway

As the economy continues to improve, high-quality companies like Shopify, Algonquin, and Docebo could continue to grow and provide substantial returns to investors through capital gains in the coming years. It could be worth your while to pick up shares of these three companies and hold onto them to enjoy stellar long-term returns.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium service or advisor. We’re Motley! Questioning an investing thesis — even one of our own — helps us all think critically about investing and make decisions that help us become smarter, happier, and richer, so we sometimes publish articles that may not be in line with recommendations, rankings or other content.

Fool contributor Adam Othman has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Docebo Inc. and Shopify. The Motley Fool recommends the following options: long January 2023 $1,140 calls on Shopify and short January 2023 $1,160 calls on Shopify.

More on Dividend Stocks

Retirees sip their morning coffee outside.
Dividend Stocks

TFSA Investors: 3 Dividend Stocks You Haven’t Bought Yet, But Should

I get it, these dividend stocks aren't doing so hot these days. But investors should buy now and think long…

Read more »

telehealth stocks
Dividend Stocks

Retirees: 2 Dividend Stocks (With +6% Yields) for Worry-Free Passive Income

These TSX stocks offer attractive yields and have solid dividend payment histories, implying retirees can easily rely on them.

Read more »

Target. Stand out from the crowd
Dividend Stocks

2 Canadian Dividend Stocks to Buy Amid a Market Correction for Years of Passive Income

Here are two of the best Canadian dividend stocks long-term investors can buy right now to earn stable passive income…

Read more »

Caution, careful
Dividend Stocks

Top Investor-Favourite TSX Stocks to Avoid This Year

Here are two TSX stocks that could continue to underperform.

Read more »

Businessperson's Hand Putting Coin In Piggybank
Dividend Stocks

New Investors: How to Safely Make $150 in Monthly Passive Income

In this current market environment, we’re all craving safety and security. New investors looking for stable and growing passive income…

Read more »

A golden egg in a nest
Dividend Stocks

3 Stocks to Turn Five-Digit Savings Into a Six-Digit Nest Egg

If you have enough time, you can achieve decent growth goals with safe and modest growth stocks in your portfolio.

Read more »

Retirement plan
Dividend Stocks

RRSP Investors: 2 Top Oversold TSX Stocks to Buy Now and Own to Retirement

RRSP investors can now buy top TSX dividend stocks at discounted prices.

Read more »

Retirement plan
Dividend Stocks

Retiring Canadians: How is Your Readiness in 2022?

Even in a volatile market environment, Canadians can improve retirement readiness in 2022 or beyond by sacrificing some of their…

Read more »