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Top 10 Australian Shares to Buy for Long Term [2022]

Investors are searching for value in growth stocks to ride out market volatility over the medium term.

There's no precise formula to always determine the best growth stocks and future results in the market. Many Australian investors seek comfort in the traditional large companies paying dividends and others look for small caps in a growth area. The past year has challenged those focused on share trading and looking beyond the near future with an investment approach targeting growth stocks that might prove valuable.

Key highlights:

Top 10 long term stocks on ASX

Company Name

Ticker Symbol

Stock Price

Year to Date

Market Capitalisation

Mineral Resources Limited





CSL Limited





Lifestyle Communities





Altium Limited





Wisetech Global





Sonic Healthcare Limited





Amcor PLC










Core Lithium Limited





Elders Limited





Data as of 29 November 2022

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Here are this month's long term Australian stocks to watch

Here's a few quality shares worth watching and several that could become the blue chip companies of tomorrow.

1. Mineral Resources Limited (MIN)

Market Capitalisation: $15.53b

Stock price (as of 29/11/2022): $83.77

Stake Platform Bought / Sold (1 Jan 2022 - 25 Nov 2022): 58% / 42%

This mining company holds stakes in two of Australia's largest lithium mines - Mount Marion and Wodgina. Mineral Resources is also the nation’s fifth largest iron producer, a holder of gas exploration projects and provider of a range of mining services to other companies. It’s assisted by multiple revenue streams and potential future growth plans.

As the market recognised the great amounts of commodities required to power the energy transition Mineral Resources' share price rose from $0.53 to $0.72 in the first 10 months of 2022. The increases in lithium production by early 2023 and the addition of a processing plant to produce lithium hydroxide are likely to increase profit margins.

2. CSL Limited (CSL)

Market Capitalisation: $144.82b

Stock price (as of 29/11/2022): $302.58

Stake Platform Bought / Sold (1 Jan 2022 - 25 Nov 2022): 64% / 36%

CSL is a speciality biotechnology company with expertise in rare and serious diseases, flu vaccines, iron deficiency and kidney diseases. By growing research and development investment by 17% in 2022 this large cap maintains a sustainable growth strategy. The firm presents an unusual healthcare stock option that did not skyrocket during the pandemic years.

It has largely recovered from the disruption caused by Covid-19 on blood plasma collections and this progress should renew sales of core products. FY22 saw a gross profit of $5.7b, its second highest after the previous year's $5.8b. CSL also benefits from a diverse revenue base, nearly 50% comes from North America, 24% from Europe, 21% from Asia Pacific and 6% from other areas.

3. Lifestyle Communities Limited (LIC)

Market Capitalisation: $1.99b

Stock price (as of 29/11/2022): $18.76

Stake Platform Bought / Sold (1 Jan 2022 - 25 Nov 2022): 61% / 39%

Lifestyle Communities owns and operates 24 facilities for downsizing in Victoria. They are building affordable housing for the semi-retired who want to live independently and access a like-minded community. Their first site was purchased in 2004 and they now have around 4,000 homeowners. 

This stock could be a method of investing in Australia's ageing population and helping ease housing shortages. In FY22 annuity income from site rentals and management fees grew by $4.7m to $29.7m. 

The team has been mindful to reduce risk against further interest rate rises from the Reserve Bank. In July 2022 they had access to $110m cash and undrawn facilities, with the next refinancing not due until 2025.

4. Altium Limited (ALU)

Market Capitalisation: $4.92b

Stock price (as of 29/11/2022): $37.71

Stake Platform Bought / Sold (1 Jan 2022 - 25 Nov 2022): 56% / 44%

Altium Limited is known for its automation software that provides electronic designs to engineers working with printed circuit boards (PCBs). It’s used across a range of industries including automobiles, aerospace and telecommunications. 

FY22 saw group revenues increase 23% to $220.8m. The cloud platform has proved a popular addition to the Altium Design software, growing its share of total revenue from 16% to 30% in the past year. 

Altium's stock could still be undervalued after the mid-year tech slump. The company is likely to benefit over time from chip shortages, geopolitics pushing manufacturing into more varied locations and general growth of electronic devices.

5. Wisetech Global Limited (WTC)

Market Capitalisation: $18.22b

Stock price (as of 29/11/2022): $55.57

Stake Platform Bought / Sold (1 Jan 2022 - 25 Nov 2022): 60% / 40%

Wisetech provides software solutions to logistics companies, helping to keep global trade running smoothly. The company now serves the world's top 25 freight forwarders and its Cargowise platform helps 41 out of the top 50 global third party logistics providers have instant access to the same information across the company's databases. 

The supply chain crisis demonstrated that businesses need to protect themselves against a frail system and stay ahead of the competition in terms of logistics. FY22 total revenue was up 25% to $632m, despite the headwinds of a lower Australian Dollar. The business has an enviable gross profit margin of 87%. Although the company's clients are impacted by general economic conditions, the ASX performance has shown resilience after earlier falls in 2022.

6. Sonic Healthcare Limited (SHL)

Market Capitalisation: $15.23b

Stock price (as of 29/11/2022): $31.68

Stake Platform Bought / Sold (1 Jan 2022 - 25 Nov 2022): 75% / 25%

Sonic Health's consistent growth since its establishment in 1987 has shaped the company into the world's third largest pathology medicine provider. Alongside operations in eight countries, Sonic Health is a leading provider of various medical services across metropolitan and rural Australia. 

The past few years have highlighted the importance of a strong healthcare sector and the impressive real world impact of medical research. FY22 saw an increase in revenue by 7% to $9.3b and achieved a record net profit of $1.5b. Sonic has noted the challenge ahead as Australia's need for Covid-19 testing slows down. The team has invested $628m in acquisitions and joint ventures to spur future growth in FY22.

7. Amcor PLC (AMC)

Market Capitalisation: $11.83b

Stock price (as of 29/11/2022): $17.89

Stake Platform Bought / Sold (1 Jan 2022 - 25 Nov 2022): 61% / 39%

Amcor PLC is an Australia-American corporation that produces packaging solutions for food, beverage and other industries. The company traces its history back to an 1860 paper mill in Melbourne. In the 1980s Amcor expanded into a range of packaging types through partnerships and acquisitions to serve global markets.

Amcor increased net sales by 3% to $3.7b in the last quarter and benefits from being able to pass on higher raw material costs to its buyers. It's in a coveted position, having the ability to reduce risk of inflation against profit margins. Amcor's growth path targets sustainability and it’s working on more recyclable designs. Investors benefit from an average 4% dividend yield.

8. Infratil Limited (IFT)

Market Capitalisation: $5.81b

Stock price (as of 29/11/2022): $8.14

Stake Platform Bought / Sold (1 Jan 2022 - 25 Nov 2022): 77% / 23%

Infratil is an infrastructure investor that holds a diversified portfolio of renewable energy, digital infrastructure, healthcare and airport assets. These are industries with strong growth prospects and provide investors with exposure to unlisted companies. The firm has an extensive investing track record of 29 years that covers global markets. 

In September 2022, they held stakes in 12 companies. The company returned 6.5% to shareholders over the previous six months, including 5.1% capital gains and a 1.4% dividend. The digital sector had the greatest valuations, in particular CDC Data Centres. With $1.4b cash available, Infratil is ready to support existing and enter into new investments.

9. Core Lithium Ltd (CXO)

Market Capitalisation: $2.37b

Stock price (as of 29/11/2022): $1.31

Stake Platform Bought / Sold (1 Jan 2022 - 25 Nov 2022): 64% / 36%

Core Lithium's Finniss Project is expected to bring new lithium concentrate supplies onto the market in the first half of 2023. It benefits from being located near Darwin in the Northern Territory, Australia's nearest port to key export partners in Asia. The completion of a $100m equity raising in October 2022 means near term activities are funded. This includes further exploration of additional prospects nearby. 

Low production costs and zero debt at September 2022 should also help insulate the business in the case of a market downturn. Although past performance is no guarantee and trying to time commodity booms can be a high risk choice, it's in a relatively secure position compared to earlier stage ventures.

10. Elders Limited (ELD)

Market Capitalisation: $1.61b

Stock price (as of 29/11/2022): $10.30

Stake Platform Bought / Sold (1 Jan 2022 - 25 Nov 2022): 72% / 28%

Elders Limited has almost 180 years of agribusiness knowledge and provides services to primary producers across the production cycle. The company also has real estate, insurance and home loan units. Along with a top-tier beef cattle feedlot in NSW and a premium food distribution model in China, this could be the best stock for access to local farming.

During FY22 sales were up 35% to $3.4b, supported by high fertiliser price growth. Although recent news of the CEO's departure has bruised the stock market performance, strong growth fundamentals are likely to support future improvements. There is consistent demand for food from the now 8 billion humans and increasingly unstable weather patterns mean added pressure on producers.

Long term stocks FAQs

What have been the best long term stocks over the last 10 years?

The Australian stock market has revealed a few surprises amongst the best performing ASX shares in terms of share price over the last decade. The top growth stocks in the ASX100 included a surprising number of tech companies, amounting to five out of the top ten at the start of November 2022.

Lithium miner Pilbara Minerals was the winner with an astonishing 17,700% share price gain over this period. The battery theme continued with fellow mining and chemical business Allkem at number six with a 983% return.

Pro Medicus, Altium, Zero, Technology One and Wisetech represented Australia's emerging software success. Aside from the small cap bias, larger quality performers included gaming company Aristocrat and medical device maker Fisher & Paykel.

However, overall top returns doesn't mean a company's financial situation was always stable. Things paid off for those held on for A2 Milk's wild ride, big dividends may have been better for others.

What are some popular long term stocks on the U.S. market?

One simple way of gaining exposure to growth stocks in the USA is investing in Warren Buffet's Berkshire Hathaway ($BRK). After all, his favourite holding period is forever.

Other popular options are large companies with everyday basics such as Dover [$DOV] and Johnson & Johnson ($JNJ). They are on their way to becoming truly international shares and are likely to hold strong against changing interest rates.

Even downturns can provide opportunities. It could be a convenient time to catch tech giants Google ($GOOGL) and Amazon ($AMZN) at a lower price.

Which Australian ETFs had the best returns over the last 10 years?

The majority of products in the Australian ETF market are relatively new and most past performances often don't even extend to 10 years. The locally focused ETFs with the best annualised returns tend to mirror the general Australian stock market and sector gains.

The Vanguard MSCI Australian Large Companies (VLC) had a return of 8.24% from Australia's 20 largest companies and the small caps in Vanguard MSCI Australian Small Companies (VSO) held strong at 7.82%.

Popular ASX200 products returned between 8.6% and 8.4%, with fees likely accounting for differences. High yield ETFs were also popular and achieved similar returns to general ASX options, as they tend to contain the same stocks.

Property proved the best sector ETF with Vanguard Australian Property Securities (VAP) achieving 8.27%, just ahead of financials with SPDR S&P/ASX 200 Financials EX A-REIT (OZF) at 7.87%. The inconsistency of Resources pulled the industry down with top performer BetaShares Australian Resources Sector (QRE) at just 6.6%.

Check out the top Vanguard ETFs in Australia for a bigger list of funds with positive returns.

This does not constitute financial product advice nor a recommendation to invest in the securities listed. Past performance is not a reliable indicator of future performance. As always, do your own research and consider seeking appropriate financial or taxation advice before investing.

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