The day you start avoiding short-term market noise is the day investing becomes simpler. It’s easy to get caught up in daily stock swings and endless predictions. But true wealth creation doesn’t happen in one trading session. It happens when you stay invested in businesses, just like Foolish investors, that keep growing and adapting over decades. And fortunately, some of the top TSX stocks have proven their ability to do just that.
In this article, I’ll walk you through two such TSX-listed companies I’d buy now and feel comfortable holding for the next 20 years.
Source: Getty Images
Aritzia stock
First up is Aritzia (TSX:ATZ), a Canadian fashion retailer that is turning strong demand into record results. Best known as a women’s fashion retailer, it runs about 130 boutiques spread across Canada and the United States, along with a strong e-commerce platform. Its focus on exclusive in-house brands has made it one of the most recognized retail brands in North America.
ATZ stock has been on fire as it has surged nearly 70% over the last year and 328% in the last five years. With that, the stock now trades at $79.86 per share with a market cap of $9.1 billion.
In the first quarter of its fiscal 2026 (ended in May 2025), Aritzia’s total sales jumped 33% YoY (year-over-year) to $663 million. The company’s comparable sales grew 19% YoY for the quarter, supported by double-digit growth in its retail and e-commerce segments.
In recent years, the United States has been the biggest growth driver for Aritzia. In the latest quarter, its revenue from the U.S. market climbed by 45% YoY as new boutique openings and digital investments paid off. Similarly, the company’s gross profit margin also expanded by 320 basis points to 47.2%, showing the benefits of smarter inventory management and cost savings.
For the long term, Aritzia has ambitious plans. For fiscal 2026, the company is targeting at least 12 new boutiques this year, most of them in the U.S., where it sees a long runway for growth. In addition to these fundamentals, its ongoing investments in digital, distribution, and brand expansion make Aritzia look like a top TSX stock that could keep compounding value for years.
Onex stock
Another stock worth holding for decades could be Onex (TSX:ONEX), a Toronto-based company blending private equity expertise with consistent capital growth. As one of Canada’s largest private equity and asset management firms, it manages around $55.9 billion in assets across private equity and credit.
After rallying by 23% in the last 12 months, ONEX stock currently trades at $116.58 per share with a market cap of about $7.9 billion.
In the second quarter of 2025, Onex saw a solid 36% YoY increase in its net profit to US$229 million. The firm’s investing segment brought in US$231 million, driven by strong private equity gains, while its asset management business added US$36 million.
More importantly, Onex is building momentum through its fundraising efforts and strategic deals. Strong liquidity, an active buyback program, and a $1.5 billion cash cushion give Onex enough resources to keep rewarding loyal investors for years to come.
