October is almost here, which means investors may be thinking about where to put fresh money to work next month.
For me, some of the best opportunities on the ASX are shares with strong competitive positions and plenty of room to keep growing over the long term.
If I were building a shopping list for October, these five ASX shares would be near the top.
ResMed is one of the favourite healthcare shares on the ASX.
The company is a global leader in devices and masks used to treat sleep apnoea, giving it exposure to a large healthcare market with recurring demand.
Patients need replacement masks and other accessories over time, providing ResMed with an ongoing relationship beyond the initial device sale.
Pro Medicus is another ASX share I would be happy to buy for the long term.
Its Visage imaging software has become a part of the technology infrastructure used by healthcare organisations, in the United States.
Life360 gives investors a different type of growth opportunity.
Subscription growth, international expansion, and new services could all help Life360 become a much larger business.
Xero is another ASX technology share to buy in October.
ResMed and Pro Medicus give me exposure to healthcare growth, while Life360, Xero, and WiseTech provide different ways to participate in the continued expansion of global technology businesses.