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We here at Motley Fool Stock Advisor believe investors should own at least 15 stocks. Our yearly list of “Starter Stocks” is our attempt to answer a simple question: “Where do I go first?”

If you’re a new investor, we suggest you pick three Starter Stocks that interest you and use them to help build out a portfolio of at least 15 stocks. And if you’ve been investing for a while and already own some companies, we think these stocks have what it takes to strengthen any portfolio.

You should feel comfortable holding these stocks for the long haul; not only do they have the strength to ride out downturns, but they’re also built for powerful growth.

A backbone of the Canadian and, for that matter, the North American economy is the railroad. Indeed, were it not for this coast-to-coast connection, I dare say we’d not be even close to the same economic state that we’re in. Similar logic applies when it comes to building your portfolio. Just like an economy, your portfolio needs a backbone, and that’s exactly what a company like CN Rail (TSX: CNR) provides.

While CN does have some degree of economic sensitivity, its competitive moat is well beyond what most companies can offer. As the North American economy evolves, CN Rail’s collection of unique assets becomes increasingly intertwined and, therefore, more valuable — something that’s well represented by the historical track record that the company has laid down.

We have good reason to believe that future returns will closely resemble those of the past. (CN Rail stock has risen 206% since we recommended it in 2014, beating the S&P/TSX Composite Index by 111 percentage points.) And in terms of risk, we think very few companies are in the same league as CN Rail. This is a stock you’ll want to own in 2024 and well into the future.