My Top 3 TSX Portfolio Holdings Going Into 2023

Are you looking for stocks to add to your portfolio this year? These three are my largest TSX holdings!

| More on:
Woman has an idea

Image source: Getty Images

The past couple of years haven’t been the most promising for most investors. That becomes even more true if you’re heavily invested in growth stocks. However, at the Motley Fool, we firmly believe in looking at the big picture. Over the long run, solid companies should see their stocks rise. That’s what investors should focus on. In this article, I’ll discuss my three largest TSX holdings going into 2023. I believe all three companies have bright futures ahead.

This blue-chip stock is a recent addition to my portfolio

Constellation Software (TSX:CSU) is a stock that I’ve been watching for years. For one reason or another, it seemed to always get pushed aside for other stocks. However, there came a point when I decided I’ve sat on the sidelines long enough. With the stock sitting over 10% lower than where it started trading in 2022, I took advantage of the discount.

Since then, the stock has done very well and now only trades about 1% lower than where it was a year ago. However, my goal is to see excellent returns over the long run. Led by its founder and president, Mark Leonard, I’m confident that Constellation Software could continue to generate excellent returns, as it has for most of its 16 years on the TSX.

Investors have yet to see the consequences of this company’s decision to start targeting large vertical market software companies for acquisition. I have a hunch it could push this stock to new heights.

Another great stock I recently bought

Brookfield Corporation (TSX:BN) is another stock that I’ve recently added to my portfolio. This is a well-known company among investors due to its large presence within the financial sector. Operating a portfolio consisting of more than $750 billion of assets under management, Brookfield is one of the largest holding companies in the world. Through its subsidiaries, Brookfield has exposure to the asset management, infrastructure, insurance, renewable utility, and private equity markets.

Some investors may be confused about the company’s new name and ticker. Rest assured, its underlying business hasn’t changed much. Last month, Brookfield decided to spin off its asset management business into a separate entity. Brookfield continues to be led by Bruce Flatt, one of the most respected executives of his time. As long as that remains true, I believe this stock could be an excellent hold over the long run.

One of my favourite Canadian companies

Shopify (TSX:SHOP) remains one of the my largest TSX holdings. Despite the many troubles that the company has faced over the past year, I believe Shopify could still grow into a much larger business by the end of the decade. Online shopping continues to grow, led by young consumers. As consumers continue to shift towards ecommerce, Shopify’s solutions could increase in demand.

The company reported a 22% year-over-year increase in its third-quarter revenue in 2022. That’s a very promising result given that many consumers are currently tightening their wallets due to the rampant inflation. Once consumer spending returns to normal levels, it wouldn’t be ridiculous to see Shopify’s revenue skyrocket in response.

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 Jed Lloren has positions in Brookfield, Constellation Software, and Shopify. The Motley Fool has positions in and recommends Shopify. The Motley Fool recommends Brookfield, Brookfield Corporation, and Constellation Software. The Motley Fool has a disclosure policy.

More on Stocks for Beginners

Target. Stand out from the crowd
Stocks for Beginners

3 Must-Buy TSX Stocks for Anyone New to Investing

Are you new to investing? These three TSX stocks for income, value, and growth are must-buys for any Canadian investor…

Read more »

grow dividends
Stocks for Beginners

After the Spinoff, Brookfield Stock Rose 16% in January

Brookfield stock is a wonderful business with a track record of delivering annualized returns of over 16%. And it's cheap…

Read more »

Woman has an idea
Stocks for Beginners

Just Starting to Invest? 3 Smart Stocks to Buy in February 2023

If you're looking for smart beginner stocks to buy, you could look into asset management companies like Brookfield Asset Management…

Read more »

edit Business accounting concept, Business man using calculator with computer laptop, budget and loan paper in office.
Dividend Stocks

How to Generate $500 in Tax-Free Passive Income Per Month

While the stock market is unpredictable, you can make a calculated investment and get a fixed passive income under a…

Read more »

stock analysis
Stocks for Beginners

The Biggest Market Movers on the TSX in January 2023

Here are the top Canadian stocks that drove the main TSX index up over 7% in January 2023.

Read more »

calculate and analyze stock
Stocks for Beginners

The Top 3 Most Shorted Stocks in Canada Today

These TSX stocks may be up now, but short-sellers are betting they're about to tumble in the next few weeks.

Read more »

Growth from coins
Stocks for Beginners

Got $5,000? These 2 Growth Stocks Are Smart Buys

Are you looking for some smart buys for your portfolio? Here are two great options to buy now while you…

Read more »

Young woman sat at laptop by a window
Stocks for Beginners

3 Stocks Beginners Can Buy in 2023 and Hold for Decades

Are you looking for a simple portfolio to get started as an investor? These three stocks are top performers and…

Read more »