Image source: Getty Images Last year, my Stocks and Shares ISA fell by around 25% or so. That was its worst performance for many years. The reason is that my ISA is largely geared for growth. And the market turned aggressively against growth stocks last year. Despite this, there are some investments in my ISA that I still wouldn’t sell. That’s because I think the growth potential is too attractive. As such, I consider these stocks untouchable (in a good way) in my portfolio, as things stand. Built for the long term The aim of Scottish Mortgage Investment Trust (LSE: SMT) is to identify the outlier companies that drive most stock market returns. This investment philosophy is influenced by the work of Hendrik Bessembinder, a finance professor who published a paper showing that nearly all stock market returns were from just 4% of listed companies. The trust has been a long-time investor in Amazon and Tesla. And even though these stocks have had a humbling period lately, both are up substantially long term. Tesla stock, for example, has risen nearly 400% in five years, even after its recent 65% drop. I believe the managers will succeed again in identifying the next big winners, though of course that’s not guaranteed. Scottish Mortgage shares are down 35% in the last 12 months. However, over 10 years, the stock is up around 379%. As a long-term investor, the most important thing to me is where the stock will be years from now. And I’m optimistic that it’ll be much higher than today. So the shares are staying put in my ISA. Premium quality The second stock that’s untouchable in my ISA today is Diageo (LSE: DGE). The drinks giant owns over 200 labels, including some of the most well-know alcohol brands in the world. It sells into more than 180 countries. Top Diageo Brands BRAND ORIGINSJohnnie WalkerScotland, 1820GuinnessIreland, 1759Gordon’sEngland, 1769SmirnoffRussia, 1860BaileysIreland, 1974 This neatly captures the almost timeless quality of its leading brands. It also has some degree of pricing power, especially with its premium brands. One risk with Diageo stock today is its valuation. With a price-to-earnings (P/E) ratio of 23, the stock has a premium valuation relative to other FTSE 100 shares. However, I think the longer my time horizon with this stock, the more it makes sense. Driving returns The third stock that’s untouchable in my portfolio today has some similarities with Diageo in terms of enduring brand power. And that is iconic supercar manufacturer Ferrari (NYSE: RACE). The Italian automaker is 75 years old, yet is still growing like a new company. It remains one of the premier luxury brands in the world. Its customers are the the ultra-rich, which gives the firm almost limitless pricing power. In fact, the more the company raises prices, the more exclusivity it seems to give the brand. Needless to say, that’s a very powerful competitive advantage. I think this advantage might even protect the company’s profits during a potential global recession, though that’s far from certain. I only started my position in Ferrari stock last year, and it’s up 10% so far. But it’s already untouchable, as far as I’m concerned.
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