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It’s been a hectic couple of months inside my Stocks and Shares ISA. In this time, a few of my holdings have rocketed to record highs, while a handful have pulled back to 52-week lows.
As a result, I’ve done quite a bit of portfolio repositioning, at least by my own buy-and-hold standards. Here are seven moves I’ve made in my ISA in recent weeks.
Three tech stocks I trimmed
After an incredible three years, artificial intelligence (AI) as a stock market theme has run into uncertainty. Prominent investors like billionaire Ray Dalio argue that AI spending is absolutely in a bubble. But he says “we don’t have the pricking of the bubble yet.”
In other words, there’s no sharp catalyst (yet).
To reduce risk, I locked in some profits on two AI stocks that soared to all-time highs a few weeks ago. These were chip designer Nvidia, which I pared back when it hit $200 per share, and chipmaker Taiwan Semiconductor Manufacturing.
Another tech share I trimmed was e-commerce enabler Shopify. This stock has really roared into life, gaining over 150% in just 18 months.
As such, it has also become very expensive, so I recently sold some shares at $160.
Now, I should say that I haven’t liquidated this trio entirely, as I’m still bullish on them long term. Shopify, for example, just reported that its merchants generated a record-breaking $14.6bn in sales during the Black Friday and Cyber Monday sales.
Three disruptors
Unfortunately, not all of my sharers have done so well lately. Two that have struggled include cross-border payments firm Wise and language learning leader Duolingo. They’re down 19% and 36%, respectively, year to date.
Even after these drops, this pair aren’t conventionally cheap (and this adds risk if their growth rates slow). Even so, I think the market is currently underestimating their long-term growth potential, and this allowed me to scoop up more shares on the cheap.
A third stock I added to was On Holding. This is the Swiss sportswear brand that’s growing very quickly, especially in Asia.
On charges top whack for its premium gear, which more affluent consumers have been happy to pay up for, despite ongoing cost-of-living risks. This is translating into impressive margins and earnings growth.
I reckon all three shares are worth checking out.
| On Holding | Duolingo | Wise | |
| Market cap | $15.5bn | $9.6bn | £8.8bn |
| Drop from 52-week high | 26% | 62% | 30% |
| Price I paid per share | $41 | $180 | 891p |
| Forward price-to-earnings ratio | 27 | 47 | 23 |
A new stock
Finally, I bought a new stock: Beeks Financial Cloud (LSE:BKS). It provides specialised cloud computing and connectivity solutions for financial firms, helping them deploy trading systems and connect to exchanges.
Customers include the stock exchanges of Canada, Mexico, and Australia, as well as crypto exchange Kraken.
Now, this is only a starter position. That’s because Beeks is a small British enterprise with just a £163m market cap. And its quite a capital-intensive business, so any setback could tip it back into the red.
That said, I’ve been impressed with the regularity of the contract wins. Just this month, Beeks has announced three new contracts – a $1.5m Private Cloud deal with a major Canadian bank, a £1.9m Exchange Cloud contract with a South African bank, and a £4m Proximity Cloud extension with an FX broker.
Looking ahead, analysts expect a significant uptick in profits. Yet the stock is down 25% since February, offering what I see as an attractive entry point to consider.
