Growth stocks have been volatile, with tech names undergoing wild swings in recent weeks. The S&P 500 and Nasdaq on Wednesday jumped to their best session since February, after both indexes fell to levels not seen since 2022 as tech stocks sold off. The US Federal Reserve kept interest rates unchanged on Wednesday and indicated that a rate cut could happen as soon as its next meeting in September, giving stocks a boost. Overall, growth stocks are up this year, even though they’ve been down a bit recently. Quotation of Vanguard Russell 1000 Growth ETF shares in January 2020 changed to +18%. Vanguard Small-Cap Growth ETF changed to +8%. What are some stocks that investors can buy and hold for the next 10 years? CNBC Pro asked fund managers and other investors focused on growth stocks for some ideas. Republican Waste Management and Services Group Greg Halter, director of research at Carnegie Investment Counsel, named five stocks he believes will see long-term growth. The two are waste management companies and Republic Services Group. “As the saying goes, garbage must be collected,” he said, adding that both companies had scale and acquired customers on existing routes. “Customers are willing to pay a price for their trash to be collected, and historically they’ve been willing to pay a higher price each year to have that stuff hauled away,” Halter said. He said the two companies are entering into ventures where waste is converted into energy, increasing their efforts in the area. “Driven by the increased need for energy for data centers and artificial intelligence, (waste-to-energy) efforts could pay dividends in the coming decades,” he said. While the share prices of both stocks have rallied strongly over the past few years, making their price-to-earnings ratios “look inflated,” their prices have recently fallen, he said. Both names correspond to a 10-year horizon, he said. TransDigm and Heico Halter said TransDigm and Heico, which supply replacement parts for aircraft, have shown for years that they can “deliver shareholder value.” Many of these parts are owned by only one company, according to him. “(That means) if you need a seat belt or a new toilet door handle, you have to get it from someone like TDG or HEI,” he said. There are two parts to this business: original equipment and aftermarket, according to him. The aftermarket is the market for replacement parts that are not made by the original equipment manufacturer. The original equipment part of the business is “small” and can last between 35 and 40 years, while aftermarket equipment can last about 50 years and is a “bigger” revenue opportunity, according to Halter. “This combination of OE and Aftermarket results in solid long-term revenue growth as the average age of the commercial aircraft fleet is now over 14 years,” he said. Another advantage for investors is that a large one-time dividend has been issued 10 times in the past 15 years, according to him. Casey’s Convenience Stores chain Casey’s General Stores isn’t exactly a bargain, but it’s a stock that should be on investors’ radar, Halter said. He said Casey’s is a “quality growth” company because of its better value, brand, free cash flow and growth runway with “superior operations.” The stock has shown over the years that it can deliver shareholder value, he said. Annovis Bio Vahan Janjigian, chief investment officer at Greenwich Wealth Management, likes the biotech stock Annovis Bio – but he has a big caveat. The company is currently working on treatments for Alzheimer’s and Parkinson’s diseases, and everything depends on the results of trials and whether the drug will be approved by the US Food and Drug Administration, he said. “It is a highly speculative stock with binary results. If the drug is approved, the stock will do very well. If the drug is not approved, the company will likely die,” he said. He added that the company did not make a profit, only incurred expenses. “I think it’s a risk worth taking with a small part of the overall portfolio; but this is not a stock that can be evaluated using standard techniques,” he said. The results of the Parkinson’s drug trial were mixed, but the stock has rallied very much because of the promise of a cure, he said. “The drug is not as effective as expected to treat Parkinson’s disease, but patients show significant improvement in cognitive function. This means that a separate Alzheimer’s trial has a chance of success,” said Janjigian.