One of the smartest ways to filter out short-term market noise and other distractions is to focus on stocks that are built to last. While the market will always go through cycles, these kinds of fundamentally strong stocks offer a calm in the storm due mainly to their ability to generate consistent cash flow and reward patience with strong returns.
In this article, I’ll highlight two top Canadian stocks that I believe are well worth buying now and holding onto for life, regardless of what the market does next.
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Brookfield Asset Management stock
Brookfield Asset Management (TSX:BAM) could be a great stock to own for life without worrying too much about market volatility. This global alternative asset manager has over US$1 trillion in assets under management and a clear focus on real assets like infrastructure, renewable power, real estate, and private credit.
After rallying by over 45% in the last year, BAM stock is currently trading at $77.33 per share with a market cap of about $126.5 billion. It also offers a quarterly dividend with a current annualized yield of 3.1%.
In the first quarter of 2025, BAM raised US$25 billion, pushing its total fundraising to more than US$140 billion over the past year. That drove a solid 26% YoY (year-over-year) jump in the company’s fee-related earnings to US$698 million. As a result, its distributable earnings also rose 20% YoY to US$654 million, reflecting the benefits of scale and ongoing demand for private market strategies.
BAM also deployed US$16 billion across areas like artificial intelligence (AI) infrastructure, renewables, and logistics last quarter. In another major step, the company recently announced an investment of US$10 billion in Sweden to develop AI infrastructure, showing just how far-reaching its long-term strategy is. Overall, BAM’s ability to generate steady cash flow while expanding across global megatrends makes it a strong hold for any long-term portfolio.
TD Bank stock
Let’s now move to Toronto-Dominion Bank (TSX:TD), the Canadian banking giant with long-term investing appeal. As one of the largest banks in North America, it serves millions of retail and business customers through a mix of personal and commercial banking, U.S. retail operations, and wealth management services.
TD stock has been on a strong run lately, climbing more than 32% in the past year. With this, it currently trades at $100.98 per share with a market cap of about $173.3 billion. The bank also rewards investors with an attractive quarterly dividend that translates to a current annualized yield of about 4.2%.
In the April 2025 quarter, TD reported a 4% YoY decline in its adjusted earnings to $3.6 billion due mainly to higher provisions for credit losses and ongoing investments tied to its U.S. anti-money laundering (AML) remediation. However, its Canadian personal and commercial banking saw 3% YoY revenue growth with the help of higher loan and deposit volumes.
While its U.S. segment faced pressure from restructuring costs, the bank’s core Canadian operations and growing wealth and insurance businesses continue to do well. With its solid fundamental outlook and a strong capital position, TD has the ability to weather uncertainty and continue rewarding patient investors over the long term.
