Every investor has a few names in their portfolio that feel untouchable — the kind you don’t just hold but hold on to, no matter what the market throws your way. For me, these three Canadian stocks are exactly that. Even with the market swings and constant headlines, I’ve never felt the urge to sell. I’ve held them for a while because they’ve consistently proven their value in a long-term portfolio.
In this article, I’ll share the three TSX-listed stocks I consider permanent residents in my portfolio and why I don’t plan on letting them go ever.
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Dollarama stock
As a top Canadian retailer that sells everything from snacks and kitchenware to party supplies and home goods, Dollarama (TSX:DOL) has built a business that thrives in just about any economic condition. That’s a big reason why it’s earned a permanent home in my portfolio.
After rallying by 43% over the last year, DOL stock currently trades at $150.84 per share with a hefty $41.8 billion market cap.
Despite cautious consumer spending and macroeconomic challenges, Dollarama’s sales and profits have kept climbing in recent quarters. In the quarter ended October 2024, the company’s sales rose 5.7% YoY (year over year) to $1.56 billion, and adjusted earnings climbed by 6.5% to $0.98 per share.
To accelerate its growth further, Dollarama plans to reach 2,200 stores by 2034 and has already started laying the groundwork with a major logistics hub in Western Canada. With its reliable returns and smart expansion plans, it’s easy to see why I’m never selling this one.
Enbridge stock
Another stock I’ll probably never even think about selling is Enbridge (TSX:ENB). It’s one of North America’s biggest energy infrastructure companies, handling everything from oil and gas pipelines to renewable power projects.
ENB stock has quietly delivered a solid 30% gain over the last year to currently trade at $63.30 per share with a $137.9 billion market cap. And for those who love passive income, it offers a juicy annualized dividend yield of about 6%.
What really stands out to me is how Enbridge keeps showing steady growth, even when markets get choppy. In 2024, it posted a solid adjusted net profit of $6 billion, up 13% YoY. The company also raised its dividend for the 30th year in a row.
With $5 billion worth of new projects placed into service last year and another $8 billion in the pipeline, Enbridge is clearly playing the long game. That kind of consistency and ambition is exactly why I’ll be holding on tight to ENB stock.
Waste Connections stock
When it comes to quiet performers that just keep winning year after year, Waste Connections (TSX:WCN) is right up there on my list. This Woodbridge-headquartered firm handles essential services like garbage collection, recycling, and even renewable fuel recovery across North America.
WCN stock has climbed more than 18% in the last year to currently trade at $271.73 per share with a market cap of $70.1 billion.
What makes this one a keeper is how it keeps growing in the background. In 2024, Waste Connections posted an 11% YoY increase in its revenue to US$8.92 billion, while adjusted earnings rose 14% to hit US$4.79 per share. The company delivered record acquisition activity last year by adding US$750 million in new annualized revenue, which has already set the stage for a strong 2025. With expanding margins, a robust free cash flow outlook, and a steady hand on operational efficiency, Waste Connections is the kind of stock I don’t plan on parting with anytime soon.
