3 Stocks I Plan to Hold for the Next 20 Years

Warren Buffett once said that his "favorite holding period is forever." I agree with his general sentiment -- especially given that his favorite holding period applied only to "outstanding businesses with outstanding managements."

Since I don't expect to be alive and kicking forever, though, I wouldn't go quite as far as Buffett. However, I can think of at least three stocks that I plan to hold for the next 20 years.

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1. AbbVie

AbbVie (NYSE: ABBV) markets a long lineup of medicines for treating autoimmune diseases, cancer, migraines, and more. Twelve of the company's drugs generated at least $1 billion in sales last year.

I suspect that most of those products won't rank among AbbVie's biggest winners 20 years from now. Patent expirations open the door for biosimilar and generic competition. Scientific advances will likely lead to more effective treatments over the next couple of decades.

However, AbbVie has proven it can adapt to change. As a case in point, the company quickly returned to growth after its longtime best-seller, Humira, lost U.S. patent exclusivity. The two successors to Humira -- Rinvoq and Skyrizi -- now rake in more sales combined than Humira did at its peak.

AbbVie is also a member of the Dividend Kings, a group of stocks with 50 or more consecutive years of dividend increases. Any company that can deliver such an impressive track record of rewarding shareholders has a good chance of surviving and thriving over the next 20 years.

2. Amazon

Amazon (NASDAQ: AMZN) is the world's largest consumer discretionary stock by market cap. But to call Amazon a consumer discretionary company doesn't do it justice. It's also the top cloud services provider, a leader in artificial intelligence (AI), a growing player in healthcare, and much more.

Few companies are as ingrained in my day-to-day life as Amazon. I interact with the company's products and services when I work (many websites are hosted in AWS), read (I use Amazon Kindle), and watch TV (Prime Video). And it seems as if Amazon delivers packages to my doorstep nearly every day.

One key reason why I plan to own Amazon stock for the next 20 years is that I know many others like me use the company's products in myriad ways. Amazon has built an exceptionally sticky ecosystem. It would be very difficult for rivals to dethrone this e-commerce and cloud king. Meanwhile, Amazon is busy expanding into new markets, including satellite internet and robotaxis.

3. Enbridge

Enbridge (NYSE: ENB) operates the world's longest network of pipelines for the transportation of oil and liquids. The company is also the biggest natural gas utility in North America by volume.

I don't see fossil fuel use diminishing significantly over the next two decades. Actually, I suspect it will grow (especially for natural gas and natural gas liquids). Enbridge's pipelines and natural gas should enjoy strong demand for the foreseeable future.

The company's dividend is another reason I plan to hold the stock. Enbridge has increased its dividend for 31 consecutive years. I fully expect that it will join AbbVie in the Dividend Kings club in 19 years.

Keith Speights has positions in AbbVie, Amazon, and Enbridge. The Motley Fool has positions in and recommends AbbVie, Amazon, and Enbridge. The Motley Fool has a disclosure policy.