10 hottest ISA shares, funds and trusts: week ended 27 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

Heavy buying of Diageo (LSE:DGE) shares sent the drinks giant flying to the top of this list of most-bought stocks in ISAs on the ii platform. Up from 12th place the week before, it’s the company’s first appearance here since January.

The catalyst for the surge in interest was last week’s half-year results. A decision to halve the interim dividend alongside downgraded profit forecasts brought a recent recovery to an abrupt end. But a drop below 1,600p had bargain hunters betting that new boss Sir Dave Lewis’s recovery strategy will succeed.

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Melrose Industries (LSE:MRO) has only appeared in this list twice before, and it’s been a year since the last time. But, like Diageo, the plane parts manufacturer issued profit estimates for 2026 that missed City forecasts. Melrose shares dived 15% in reaction to the prediction of adjusted operating profit at between £700 million and £750 million, which was 4% below consensus estimates. That meant a 90 basis-point margin miss.

Hikma Pharmaceuticals (LSE:HIK) makes its debut here, but shareholders would hope for better circumstances. And again, it’s disappointing guidance for 2026 that’s causing problems for the drugs company. Revenue growth this year is tipped to be 2-4% versus 7% in 2025.

A 20% slump in the price following annual results puts the shares in very real danger of demotion from the FTSE 100. The reshuffle will use data from the market close on Tuesday 3 March. Any changes will be confirmed after market close on Wednesday.

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It’s been almost four months since International Consolidated Airlines Group SA (LSE:IAG) last landed in this top 10. And it was an 8% drop in the share price from multi-year highs that attracted investors last week. The British Airways owner reported record operating profits in 2025 on the back of which analysts have been largely positive. Both Bernstein and Barclays upgraded price targets to 500p and 440p respectively, although events in the Middle East over the weekend have put the shares under pressure.

Microsoft Corp (NASDAQ:MSFT) shares were little changed over the week but remain not far off a one-year low. The tech giant jumped from 13th to 10th spot in this week’s list, having appeared three weeks in a row from late January. Investors are betting the shares offer value following a 30% drop from last year’s record high. 

Dropping out of this week’s list are Glencore, Lloyds, BAE Systems, Sage and Helium One Global.

Top 10 funds and trusts in ISAs

Artemis Global Income I Acc retains the top spot, with its strong gains and US-light weighting attracting investors. Fund manager Jacob de Tush-Lec has been at the helm since the fund launched in 2010. It describes its approach as “not looking for the usual suspects”, and in terms of country weightings this is reflected in it having around a third in Europe, around a third in the US, and nearly a quarter of the portfolio in emerging markets.

The fund’s top three holdings are Samsung Electronics Co Ltd DR (LSE:SMSN), Siemens Energy AG Ordinary Shares (XETRA:ENR) and Hon Hai Precision Industry Co Ltd DR (LSE:HHPD), which is the world’s largest contract manufacturer of consumer electronics, communications, and computer products. Over one, three and five years, the fund has notably outperformed the sector average return. Over the latter time period, it is up 183.6% versus 70.9% for the sector.

Also unchanged in second place is Royal London Short Term Money Market. As mentioned in our recent updated guide on how to invest in money market funds, the yields on offer are now less generous than they have been over the past couple of years due to declines in interest rates. However, investors can still pick up inflation-beating income, with Royal London Short Term Money Market’s yield at 3.88% at the end of January.

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There is one new entry this week, with Artemis SmartGARP European Equity I Acc GBP re-entering the top 10 having dropped out of the list last week. SmartGARP stands for Smart Growth At a Reasonable Price, and, in common with Artemis Global Income, performance over multiple time periods has impressed. Over five years, it has gained 169% versus 60.9% for the Europe excluding UK sector.

For the rest of the top 10, the usual host of global tracker funds appear in the table, as does investment trust stalwart Scottish Mortgage Ord (LSE:SMT) and high-yield renewables play Greencoat UK Wind (LSE:UKW).

However, not making the cut this week is the Renewables Infrastructure Group. However, it does make the top 10 most-bought investment trusts for February.

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