As a long-term investor, I believe that holding onto high-quality growth stocks is the key to building lasting wealth. While markets fluctuate, some companies have strong fundamentals and long-term growth potential that make them worth holding indefinitely.
In this article, I’ll reveal three Canadian growth stocks that I already own — and have no plans to sell anytime soon. These companies have proven their ability to generate outstanding returns, and I believe they could continue delivering massive upside in the years to come.
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Aritzia stock
The first stock that I’ve decided to hold onto for the long haul is Aritzia (TSX: ATZ). This Vancouver-based fashion retailer has built a strong reputation for its clothing across North America, with a mix of stylish and high-quality apparel. ATZ stock is currently trading at $66.41 per share, giving it a market cap of $7.6 billion. Over the past year, Aritzia stock has surged 86%, reflecting its strong business momentum.
In its latest quarter ended November 2024, Aritzia’s sales jumped 11.5% YoY (year over year) to $728.7 million, with its U.S. sales skyrocketing 24%. With the company’s continued focus on flagship store openings, improving its e-commerce platform, and maintaining a loyal customer base, Aritzia has everything in place for long-term growth, making it a stock I’m “never” selling.
BlackBerry stock
BlackBerry (TSX: BB) is another stock that I have no plans to part with. This Waterloo-based tech firm mainly focuses on helping businesses and governments secure their data and power intelligent systems worldwide. BB stock is currently trading at $7.47 per share with a market cap of $4.4 billion. Its stock has had a solid run, surging 105% over the past year.
Digging into its latest earnings, BlackBerry’s revenue came in at US$162 million in the November quarter, with its IoT (Internet of Things) business climbing 13% sequentially and cybersecurity revenue up 7%. More importantly, it returned to positive adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) and reported an adjusted net profit of US$12 million, reflecting a huge improvement from past losses.
Meanwhile, BlackBerry is doubling down on its software-defined vehicle technology. It also recently struck a deal to sell its Cylance cybersecurity business unit to Arctic Wolf, which could streamline its operations and boost profitability.
Shopify stock
And finally, there’s Shopify (TSX: SHOP), the Ottawa-based e-commerce giant that powers millions of online businesses globally. After jumping by 61% over the last year, SHOP stock currently trades at $164.48 per share with a $213 billion market cap.
In the fourth quarter of 2024, Shopify’s total revenue climbed 31% YoY to US$2.81 billion, marking its seventh straight quarter of over 25% adjusted revenue growth. Similarly, SHOP’s free cash flow surged to a 22% margin, showing that the company is not just growing but also becoming more profitable.
What really makes me confident about Shopify’s future is its continued global expansion, increasing adoption of Shop Pay, and its dominance in the U.S. e-commerce market, where it holds over 12% market share. With its focus on constant innovation, Shopify has all the ingredients of a growth stock worth holding onto for the long run.
