New to Investing? Here Are 5 Canadian Stocks to Hold Forever

These five Canadian companies have established businesses with long-term growth opportunities and could form a solid foundation for a patient portfolio.

Key Points
  • Canadian National Railway and CPKC offer exposure to essential North American freight networks with room for long-term earnings growth.
  • Intact Financial and Fortis add financial strength, dividends, and businesses built around recurring demand.
  • Dollarama continues to expand its store network and international presence while delivering solid earnings growth.

Your first few stock purchases could actually shape how you think about investing for years. That is why you may want to start with businesses that are easier to understand and less dependent on one big trend. Let’s look at five such Canadian stocks with simple business models that could be worth holding for many years.

Young adult concentrates on laptop screen

Source: Getty Images

Canadian National Railway stock

If you are building a long-term portfolio from scratch, Canadian National Railway (TSX: CNR) offers the kind of durable business that can be easy to understand and hold. CN provides rail, intermodal, trucking, and supply chain services across North America. Its stock currently trades at $171.61 per share, giving the company a market cap of $104.1 billion.

In the second quarter of 2026, CN’s revenue climbed 11% year-over-year (YoY) as revenue ton miles increased 5%, mainly due to stronger grain and energy volumes.

Even better, CN raised its 2026 guidance and continues to plan roughly $2.8 billion in capital spending this year. Its extensive network, improving efficiency, and strong cash flow generation give this Canadian railway plenty of long-term appeal.

Intact Financial stock

Another stock worth considering for a long holding period is Intact Financial (TSX: IFC), which gives investors exposure to Canada’s property and casualty insurance industry. The insurer operates across Canada, the United States, the United Kingdom, Ireland, and Europe.

IFC stock has slipped 6% over the last year as its recent results were pressured by elevated catastrophe and large losses. Intact’s second-quarter combined ratio rose to 94.9%, while net operating income fell 39% YoY to $3.17 per share. Still, its operating direct premiums written increased 4%, and book value per share grew 13% to $111.73.

Despite temporary challenges, Intact’s scale, strong balance sheet, and continued use of data and artificial intelligence (AI) in pricing and risk selection could support profitable growth over time.

Dollarama stock

For new investors who prefer a straightforward growth stock, Dollarama (TSX: DOL) could definitely be worth considering. Its shares have climbed 233% over five years to currently trade at $184.91 each with a $49.7 billion market cap.

In its fiscal 2027 second quarter (ended on August 2), the discount retailer’s sales jumped 17.6% YoY with the help of domestic comparable-store sales growth, a larger store network, and a full quarter of Australian operations.

Along with that, its continued expansion in Canada and international markets gives the business several avenues to grow.

Fortis stock

If steady growth and dividend income matter more to you than the latest market trends, Fortis (TSX: FTS) could be another great addition to your portfolio.

Fortis owns regulated electric and gas utilities across North America. Its shares trade at $75.24 per share, giving the company a $38.7 billion market cap. At this price, it offers a 3.4% annualized dividend yield.

In the June quarter, Fortis earnings climbed to $0.78 per share from $0.76 a year ago as rate-base growth and higher retail electricity sales supported the results.

Moreover, Fortis expects to invest $28.8 billion over five years, supporting projected annualized rate-base growth of 7% through 2030. That growth is also expected to support annual dividend increases of 4% to 6% through 2030, making Fortis an attractive Canadian stock for long-term investors.

Canadian Pacific Kansas City stock

My final forever pick returns to essential infrastructure with Canadian Pacific Kansas City (TSX: CP), or CPKC, and its unique three-country freight network. Following a 20% rally over the last year, CP stock currently trades at $122.61 per share with a market cap of $107.9 billion. At this price, the stock has a 0.9% dividend yield.

In the second quarter, CPKC’s revenue and earnings continued to climb. Overall, the company’s three-country rail network remains the heart of its long-term potential. For investors searching for a Canadian stock with durable infrastructure assets and a long growth runway, CPKC remains an attractive buy-and-hold Canadian stock.

Fool contributor Jitendra Parashar has positions in Dollarama. The Motley Fool recommends Canadian National Railway, Canadian Pacific Kansas City, Dollarama, Fortis, and Intact Financial. The Motley Fool has a disclosure policy.

More on Stocks for Beginners

Two seniors walk in the forest
Dividend Stocks

Can Dividends Replace a Paycheque in Retirement?

Can dividends in retirement replace your paycheque? Explore how Scotiabank, RioCan REIT, and Fortis can help build a steady retirement…

Read more »

Warning sign with the text "Trade war" in front of container ship
Stocks for Beginners

Trade Wars Are Reshaping Canada’s Export Map: This Railway Stock Could Benefit

CPKC could benefit as Canadian exporters seek new trade routes, but new destinations need to produce profitable freight.

Read more »

dividends grow over time
Dividend Stocks

The U.S. Dollar is Rising Again: Here’s What VFV Investors Should Know

VFV investors receive both U.S. equity returns and currency translation.

Read more »

Real estate investment concept with person pointing on growth graph and coin stacking to get profit from property
Stocks for Beginners

Canada’s Job Market Could Decide What Happens to Mortgage Rates Next

Canada’s jobs report can influence mortgage expectations, but fixed and variable rates move through different channels.

Read more »

An engineer works at a hydroelectric power station, which creates renewable energy.
Energy Stocks

Brazil’s Election Has Investors Watching: This TSX Stock Offers a Different Way In

Brookfield Renewable gives Canadian investors Brazilian power exposure without making Brazil the entire investment.

Read more »

businessmen shake hands to close a deal
Dividend Stocks

A Canada-India Trade Deal Could Be Big for Infrastructure: Is WSP Stock a Buy?

India could require roughly US$840 billion of urban infrastructure investment over 15 years.

Read more »

Yellow caution tape attached to traffic cone
Stocks for Beginners

Is a TFSA a Good Place for an Emergency Fund? It Depends

Wondering if the TFSA is a good place for an emergency fund? We dig into when it is and isn't…

Read more »

oil pumps at sunset
Energy Stocks

OPEC+ Can’t Deliver Every Barrel it Promised: This Pipeline Stock Still Gets Paid

Pembina provides energy exposure through contracted infrastructure rather than relying entirely on oil prices.

Read more »