Holding high-quality stocks for the long term, say a decade, is a smart strategy to create wealth and navigate the short-term volatility. Further, when investing for the next 10 years or more, focus on growth stocks, as they can deliver massive returns over the long term. These companies expand faster than their industry peers, and that momentum translates into rising share prices. However, growth stocks are also highly volatile.
As growth stocks can be highly volatile, look for companies with solid underlying fundamentals and the ability to deliver sustainable profitability in the long term. These Canadian stocks are most likely to outperform the broader markets.
Against this background, here are five Canadian stocks I’d feel good about holding for the next 10 years.
Source: Getty Images
Canadian stock #1: MDA Space
MDA Space (TSX: MDA) is a top stock to buy and hold for the next 10 years and capitalize on the growing space economy. The space technology company is benefiting from rising demand for satellite systems, robotics, geointelligence, and defence technologies.
Further, a $3.7 billion order backlog provides solid revenue visibility, while a potential $40 billion opportunity pipeline over the next five years highlights significant growth potential. Strong demand for space technology, its expanding global footprint, and a diversified business position MDA Space well to deliver strong long-term returns.
Canadian stock #2: SECURE Waste Infrastructure
SECURE Waste Infrastructure (TSX: SES) is one of the top stocks to buy and hold for the next 10 years. Its diversified operations in waste management, metals recycling, and energy infrastructure position it well to deliver solid growth. Its contract-based business generates reliable cash flows, supporting steady expansion and disciplined capital investment.
Looking ahead, new water infrastructure projects, expansion into underserved markets, and a strengthening metals recycling business augur well for growth. Strategic acquisitions could further boost recurring revenue and strengthen its market position. With stable earnings and multiple growth drivers, SECURE appears well-positioned to reward long-term investors.
Canadian stock #3: Aritzia
Aritzia (TSX: ATZ) is another top stock worth holding for years. The fashion retailer has the ability to deliver above-average returns. The retailer continues to attract shoppers in boutiques and online, driven by its exclusive brands, steady product launches, and premium customer experience. Its expanding e-commerce business and disciplined cost management continue to boost earnings, supporting its share price.
Looking ahead, new boutique openings, continued digital investments, and healthy demand for its brands should support double-digit sales growth. While tariffs may pressure margins in the near term, efficient inventory management and operational discipline should help offset those challenges, keeping Aritzia on track for solid long-term growth.
Canadian stock #4: Bird Construction
Bird Construction (TSX: BDT) is another solid Canadian stock to hold for the next 10 years. The company is benefiting from increased spending on infrastructure, energy, and industrial projects across Canada. It also has exposure to high-growth sectors such as defence, healthcare, renewable energy, nuclear power, LNG, transportation, and critical minerals.
The construction company is also expected to benefit from the rapidly expanding data centre market, where potential opportunities exceed $20 billion. Bird’s solid balance sheet and strategic acquisitions strengthen its capabilities and will likely support growth. Further, solid project backlog and expansion opportunities in high-growth segments position it well to keep growing at a solid pace.
Canadian stock #5: Shopify
Shopify (TSX: SHOP) is one of the top Canadian stocks to hold for the next 10 years. The Canadian technology giant is down significantly year to date, offering a solid buying opportunity. Shopify’s fundamentals remain solid, and it continues to capitalize on the ongoing shift toward omnichannel selling platforms.
Shopify’s first-quarter revenue climbed 34%, driven by solid growth in gross merchandise volume (GMV) across merchants of all sizes. Growth remains solid in key areas, including enterprise customers, offline commerce, B2B sales, and Shop Pay. With multiple growth catalysts intact, the stock appears well-positioned for a long-term recovery.
