10 hottest ISA shares, funds and trusts: week ended 20 February 2026

We look at the investments ii customers have been buying within their ISAs during the previous week. The data includes only real-time trades, not regular investing instructions, and combines the use of both existing funds and new money.

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Top 10 shares in ISAs

NatWest Group (LSE:NWG) retain the top spot in this list of most-bought stocks in ISAs on the ii platform for a second week. Shares in the high street lender rose 6%, making it one of the best performing blue-chips over the past week.

Clearly, continued buying interest among retail investors suggests a belief that NatWest can once again trouble that 17-year high above 700p. Analysts at Goldman Sachs think so too, raising their price target from 680p to 720p.

Backing for a recovery at RELX (LSE:REL) nudged shares in the data and information analytics firm up two places to second position. Trading below 2,200p at the start of the week, shares changed hands for 2,350p on Thursday before ending the week with a gain of almost 3%.

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We reported earlier in the week how three heavyweight analysts believed the company was due a change of fortune. Relx shares are still down over 40% since last May, but one of the trio said they represented “compelling long-term value”. 

There are four new entries from the FTSE 100 this week – Rolls-Royce Holdings (LSE:RR.), BAE Systems (LSE:BA.), Glencore (LSE:GLEN) and Sage Group (The) (LSE:SGE).

After going AWOL for a couple of weeks, Rolls-Royce returns to this list in third place. After struggling through the second half of January and dropping to below 1,200p, the aerospace engineer’s shares have attracted fresh buying. It’s been enough to send the price to a record high at 1,351.50p ahead of Thursday’s annual results.

There’s been a positive read-across from last week’s numbers from BAE Systems, another new entry here in at number five. The company called this a “new era” of defence spending, where Europe especially is increasing military budgets following pressure from US President Donald Trump. Already, BAE has more work on its books than ever before, and the direction of travel has investors betting there’s even more to come.

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Bank of America is among the more positive analysts, rating BAE a buy with price target raised to 2,330p. “We see upside potential given a track record of execution,” said Morgan Stanley following the numbers, giving a target of 2,342p. “Further out, higher potential US and UK budgets could drive a paradigm shift in the growth algo.”

Glencore moved back toward multi-year highs following well-received full-year results and a surprise special dividend. But a lot of the numbers were in line with consensus expectations or had already been flagged at December’s update.

Sage, another stock caught up in the AI scare trade, makes its debut in this list at number 10. Shares in the accountancy software firm are down a fifth in the past month and near a three-year low, but they managed to creep higher in recent sessions. As with lots of software stocks, among them Relx, London Stock Exchange Group (LSE:LSEG), Rightmove (LSE:RMV) and Mony Group (LSE:MONY), Sage has been hit by concerns that new cheaper AI tools will steal business from them.

And finally, a name familiar to anyone reading this column between June and September 2024 makes a return. Helium One Global Ltd Ordinary Shares (LSE:HE1) shares had jumped to their highest in almost seven months a week earlier, reacting to a positive operational update from the Galactica helium development in Colorado, US.

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Analysts at broker SP Angel explained that “…first helium gas sales will represent a major value-inflection point for the company after its strategic US entry just over 12 months ago. This initial helium production from Phase 1 is designed to provide early cash flow and operational data.”

It added: “The market will likely look for further Helium One updates to de-risk the ramp-up and stability of its operations and cash flows, which will allow long-term investors to enter the stock and release higher-risk investors to recycle capital into new developers.”

Having had little to cheer about since last summer, Helium One shares jumped more than 120% between 12th and 16th February, peaking last Monday at 1.05p. Investors were also buoyed by tests showing better-than-expected flow rates at the company’s flagship southern Rukwa helium project in south-west Tanzania. However, the upbeat mood fizzled out slightly, the shares ending the week at 0.7p.

Losing their place in this week’s top 10 are BP, which slips to 11th spot, Microsoft drops to 13th, Amazon slips to 14th, and both Barratt Redrow and Aviva disappear from the radar for now.

Top 10 funds and trusts in ISAs

Many investors appear to agree with our columnist Ian Cowie’s view that there could be more gains to come for Seraphim Space Investment Trust Ord (LSE:SSIT). This specialist fund has given investors a roller coaster of a ride since listing in 2021, but those who bought in around a year ago will be sitting on big gains, with its share price up 189%. One thing to bear in mind is that it is now commanding a high premium to net asset value (NAV) of 15%.

The other new entry in this week’s top 10 list is from a sector that has yet to return to form, despite interest rate cuts likely to prove a tailwind in terms of reviving its fortunes. Like many others in the sector, Renewables Infrastructure Grp (LSE:TRIG) has posted heavy losses over three and five years, down 35.5% and 28.2%. However, a high dividend yield of 11.6% and a discount of 37% are drawing investors in.

The most popular pick from the sector, which has been the case for the past three years or so, is Greencoat UK Wind (LSE:UKW). It is also deep in the red over three years, down 26.1%, but has eked out a small gain of 1.3% over five years. Its 11% dividend yield and 29.1% discount are both proving attractive.

Rising interest rates (and bond yields) did huge damage to share prices across the sector in 2022. More recently, a multitude of  problems, from a backlash against renewable energy to low wind speeds in the first half of 2025, as well as the government’s decision to switch the inflation linkage on certain renewable subsidies from the RPI measure of inflation to the lower CPI level, have continued to hurt returns.

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Of the eight other funds in the top 10, global strategies dominate. Four provide passive exposure to the returns of the global stock market, with three investing solely in shares: HSBC FTSE All-World Index C Acc, Vanguard FTSE Global All Cap Index £ Acc, and Vanguard LifeStrategy 100% Equity A Acc. The other tracker fund, Vanguard LifeStrategy 80% Equity A Acc, offers some bond exposure.

Two actively managed global funds feature, with Artemis Global Income I Acc remaining in the top spot. Its strong performance and light exposure to the US are helping fuel demand.

Scottish Mortgage Ord (LSE:SMT), which targets all manner of future themes from the rise of artificial intelligence (AI) to e-commerce, appears lower down the rankings, in eighth place.

And finally, a permanent fixture in our top 10 and retaining second place, is Royal London Short Term Money Mkt Y Acc.

Money market funds yielded over 5% when UK interest rates peaked at 5.25%. But interest rate cuts mean the amount of income such funds can generate is declining. With UK rates currently at 3.75%, and the expectation of one or two further cuts in 2026, this will quickly feed through into lower future returns for these funds. Royal London Short Term Money Market’s current yield is 3.9%.

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Departing the top 10 are Artemis SmartGARP European Equity and L&G Global Technology Index.

Funds and trusts section written by Kyle Caldwell, funds and investment education editor at ii.