3 ASX shares I’d buy if I could only check my portfolio once a year

Some businesses make long-term investing feel relatively straightforward.

They have clear opportunities to keep expanding, established positions in their markets, and reasons to believe they could be considerably larger a decade from now.

If I could only check my portfolio once a year, these are three ASX shares I would be comfortable owning.

ResMed would be my first pick because sleep health is a market I expect to keep growing for many years.

The company is best known for its devices and masks used to treat obstructive sleep apnoea. Millions of people already use its products, but a huge number of people around the world remain undiagnosed or untreated.

That gives ResMed plenty of people still to reach.

I also like what happens after someone begins treatment. Masks and other accessories need replacing regularly, creating an ongoing relationship rather than a one-off equipment sale.

Its latest results show that demand remains strong. ResMed’s fourth-quarter revenue increased by 9%, supported by its sleep devices, masks and accessories.

The company is also investing in digital health to help patients remain on therapy. I think combining connected devices, software and replacement products can strengthen those customer relationships over time.

For me, ResMed is a business that could quietly keep growing as more people receive treatment for sleep-related conditions.

TechnologyOne Ltd (ASX: TNE)

TechnologyOne is another share I would happily leave alone for long periods.

Its software is used by councils, universities, government organisations and other institutions to manage important everyday functions.

Once one of these organisations has built its operations around TechnologyOne’s software, changing systems can involve considerable time, disruption and retraining. Meanwhile, the company continues improving what existing customers can do through the platform.

TechnologyOne’s SaaS+ model takes this further by giving the company greater responsibility for implementing and operating its software for customers.

I think its expansion outside Australia could be particularly important over the next decade. UK annual recurring revenue reached $53 million in the first half of FY26, up 23%. That figure caught my attention because it shows TechnologyOne is gaining traction in another large market rather than relying solely on its established Australian customer base.

Artificial intelligence could give customers another reason to deepen their use of the platform, with TechnologyOne investing in technology that can automate tasks inside its software.

There should be plenty more runway if the company can repeat its Australian success overseas.

Coles Group Ltd (ASX: COL)

Coles may seem like the least exciting company of the three, but I wouldn’t let that put you off.

Australians need groceries every week, giving Coles an enormous base of recurring customer demand and defensive earnings.

The business is also changing behind the scenes. Coles has invested heavily in automated distribution centres and customer fulfilment centres, which can make the supply chain more efficient while helping it handle growing online demand.

Ecommerce sales increased by 27% during the first half of FY26, with volumes through its automated fulfilment centres continuing to grow.

I think that shows Coles can continue evolving even in a mature industry.

The company also owns valuable customer relationships through Flybuys and is developing its retail media operations, creating more ways to earn from the enormous amount of shopping activity already passing through its stores and websites.

For a long-term holding, I like that combination of everyday demand and gradual improvement.

Foolish takeaway

I like all three because I can see a reason to stay patient with them through the inevitable market noise.

If the underlying businesses keep progressing, I think these are the sort of shares that could reward investors for simply giving them time.