I’ve constructed a portfolio of round 20 prime UK shares inside a self-invested private pension (SIPP). That appears the correct quantity for diversification functions however what if I used to be solely restricted to 5? Which of them would I save?

The simplest possibility can be to hold on to my winners and promote my losers, however there’s an argument for doing the other.

For instance, shares in spirits large Diageo have plunged however might stage a robust restoration as soon as customers really feel higher off. The flipside is that I’m anxious about stories that youthful individuals drink much less.

So which FTSE 100 shares ought to I promote?

Then again, shares in personal fairness specialist 3i Group are up 64.17% over one yr and 170.28% over two. However 3i is very depending on one single portfolio holding, European low cost retailer Motion, which distorts the figures.

In apply, I’d take my loss on Diageo and revenue on 3i (fortunately the latter far outweighs the previous) and transfer on.

There’s one inventory I wouldn’t promote. Paper and packaging retailer Smurfit WestRock (LSE: SWR) has given me a bumpy journey however issues are wanting up.

I purchased the Eire-based firm to learn from a resurgence in e-commerce because the cost-of-living disaster eased and customers began spending once more. I didn’t realize it was about to create the world’s largest cardboard field maker by merging with US operator WestRock.

Markets determined the board had overpaid, and my shares slumped. However the advantages of the merger are beginning to reveal themselves.

Q3 outcomes confirmed a web lack of $150m however that was principally down to $500m of merger prices, whereas complete web gross sales jumped by $2,915m to $7,671m. CEO Tony Smurfit stated the tie-up ought to ship advantages no less than equal to his acknowledged synergy goal of $400m.

I reckon the share price has additional to go

The Smurfit WestRock share price is up 23.51% over one month and 22.54% over one yr, and I feel there’s extra to return. The group additionally offers me US publicity.

I’d additionally maintain on to my shares in Lloyds Banking Group, which I purchased as a portfolio constructing block. I’m annoyed by accusations of motor finance mis-selling (why at all times Lloyds?) however don’t really feel that is the time to promote.

And I’d maintain Taylor Wimpey. Just some weeks in the past this was bombing alongside and giving me a 7% yield too. Now its shares have plunged resulting from fears that rates of interest will keep larger for longer, protecting mortgage charges excessive and home costs down. I feel it’s going to recuperate, given time.

Oil large BP is my most up-to-date share price inventory buy and I hope to carry it for all times, regardless of the long-term menace of the power transition. Plus I’d additionally maintain wealth supervisor M&G, which provides me a blockbuster 9.31% yield.

This implies saying goodbye to Rolls-Royce Holdings, which can have peaked after a stellar run, client items plodder Unilever, struggling miner Glencore and defence producer BAE Methods. I’m wondering which I’d remorse promoting most? Given the state of right this moment’s world, in all probability BAE.

In actuality, I’ll cling on to all of them. 5 shares is just too small for a balanced portfolio. I’ll proceed to unfold my danger with 20!