2025 was a decent year for the S&P/ASX 200 Index (ASX: XJO). On its bookends, the rise from 8,159.1 points to 8,714.3 points last year meant that the ASX 200 gained 6.8% for the year. That's not a bad return, particularly when boosted by the dividends that ASX 200 shares paid out over the year. Luckily for me, my own portfolio did slightly better than that, thanks largely to a few of my best stocks.
Like most portfolios, mine had both winners and losers in 2025.
Today, I'll discuss two of my top performers and explain why I decided to invest in them.
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My two best stocks of 2025
Newmont Corporation (ASX: NEM)
First up, we have Newmont Corporation. This ASX gold miner is an accidental position in my portfolio, arriving as a result of the US-based Newmont taking over my old position in Newcrest Mining in 2023.
When I bought Newcrest shares a few years ago, it was due to a belief that the gold price was undervalued and that geopolitical and economic tensions could push it higher. Perhaps unfortunately, this thesis has played out, with gold reaching several new record highs in 2025.
As a result, the Newmont share price exploded last year. It rose from $59.54 a share in January to $150.20 by the end of December. That's a gain worth a whopping 152.27%, making it the best stock in my portfolio in 2025. The four dividends that Newmont paid out last year boost that return even further.
Normally, I don't like to play commodities stocks. However, I view Newmont as a hedge, or insurance, position in my portfolio. I am happy to keep it for the time being, despite its blowout performance last year, given the ongoing uncertainties in the global economy.
Alphabet Inc (NASDAQ: GOOGL)
My second-best stock in 2025 is none other than an American stock – the Google-owner Alphabet. Alphabet's near-monopoly as the gatekeeper of the internet attracted me to this company years ago. Its other ventures, which range from YouTube and Google Workspace to the self-driving company Waymo, are added bonuses.
Between January and April last year, the Alphabet share price dropped close to 30%, largely due to concerns that AI tools were about to eat its lunch. I thought these fears were overblown, given the leading role that Alphabet's own Gemini AI platform was taking. When the company's price-to-earnings (P/E) ratio got below 17 in April, I thought it was a huge opportunity to pick up even more shares of a company that is still growing at an incredible pace.
That dip didn't last long, and by the end of the year, Alphabet was up to US$313 a share. That was 65.35% higher than the US$189.30 it started 2025 at, as well as 122.7% above the 52-week low of US$140.53 it hit in April.
