Time to get personal. Like many, if not most, investors, 2022 was a tough year for my ASX shares. With the S&P/ASX 200 Index (ASX: XJO) losing 5.5% last year, it was always going to be hard for an ASX portfolio to break even.
But I still had more than a few winners helping to offset some of the losses in my portfolio. So I shall now reveal my top three best-performing ASX shares of 2022, and why I reckon they will continue to be winners in 2023.
My top 3 ASX shares of 2022
National Australia Bank Ltd (ASX: NAB)
NAB is an ASX share that needs little introduction. It is now the second-largest ASX bank share on the market by market capitalisation, only behind Commonwelath Bank of Australia (ASX: CBA). NAB is one of my oldest investments, and I have been loath to sell it before out of pure, foolish nostalgia.
But these days, I am quite happy to hold it as one of my investments, helped by the 4.2% share price gain I enjoyed last year. That came with a healthy dividend too, which boosted my returns by another 7% or so.
I have been impressed with the business’ performance since CEO Ross McEwan took over a few years ago and I think NAB will prove a solid investment in 2023 and beyond accordingly.
Wesfarmers Ltd (ASX: WES)
Wesfarmers is a newer position of mine. I was fortunate enough to buy some shares when this company was really on the nose back in October.
Since then, I have enjoyed double-digit gains on my position, with my only regret being that I didn’t buy more. That’s despite the Wesfarmers share price losing more than 22% of its value over the entire calendar year.
I think Wesfarmers is one of the top-tier ASX shares on our market. It has an incredibly diverse earnings base, with stakes in a wide range of retail and industrial businesses.
Its crown jewel Bunnings is one of the best-run retailers in the country too. Accordingly, this is a company that I have no plans to ever sell.
A2 Milk Company Ltd (ASX: A2M)
A2 Milk rounds out my top performers of 2022. A2 Milk shares had a pretty great year last year, considering the returns of the broader market.
This company enjoyed a 26% or so rise over 2022, which makes it my best-performing ASX share of the year. We can probably thank improving business conditions, as well as China’s moves towards reopening, for these gains.
Unfortunately, I bought A2 Milk shares back in 2021 and, even after these healthy gains, I am still underwater. But even so, it’s been nice to see such a spirited recovery for this embattled share.
I think A2 still has a lot of potential and I think 2023 will be another great year for this former market darling.
The post My 3 best ASX shares of 2022 â and why I think they’ll win again in 2023 appeared first on The Motley Fool Australia.
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More reading
- Starting 2023 with no savings? Iâd follow Warren Buffett and start building wealth
- Why 2023âs stock market could offer me once-in-a-generation returns
- Want 17% upside plus dividend income? Broker says buy Wesfarmers shares
- Can ASX bank shares deliver in 2023 after higher interest rates?
- 5 things to watch on the ASX 200 on Tuesday
Motley Fool contributor Sebastian Bowen has positions in A2 Milk, Wesfarmers and National Australia Bank. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has positions in and has recommended Wesfarmers. The Motley Fool Australia has recommended A2 Milk. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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