It’s that time again to start thinking about the end of the year.

If you're like me, you're beginning to look over your portfolio and figure out what needs to happen before the calendar flips.

This year makes that even more important.

We’ve watched companies tied to big themes like AI, quantum computing, and nuclear soar earlier in the year and then pull back.

That mix of big winners and sudden losers gives you the chance to clean things up and set yourself up for next year.

So here’s a simple year-end roadmap that can help you finish the year strong.

‘Tis the Season for Loss Taking

Year-end is a unique time when it comes to taking trading losses, especially in a year of massive gains like 2025.

The recent pullback in the market’s most speculative stocks adds a unique aspect to this as well.

Think of stocks involved in artificial intelligence, quantum computing, nuclear reactors, critical and precious minerals, and others.

Many of these stocks absolutely soared in September and October, then witnessed steep pullbacks.

So many investors may have booked big (and taxable) gains from earlier in the year.

It also means that they may be sitting on more near-term losses from stocks they bought in the last few months.

This is the perfect time to realize some of those losses and help offset some of those big gains.

Especially if you utilize this second strategy.

A “Like-for-Like” Rotation

I am not giving tax advice here, but the U.S. tax law around taking losses is relatively clear.

If you sell a stock after holding it for less than one year, you will be subject to “short-term capital gains,” which are typically taxed at your income tax rate.

For the vast majority of folks, this rate is higher than the lower long-term capital gains rate.

There is also a rule that says that you can’t buy the stock back immediately after selling it.

This is called a wash sale, and the rules say that you must wait at least 30 days after you sell it to buy it back.

It’s a little more complicated, as they also look to see if you bought another “substantially identical” share in the 30 days prior.

This prevents you from taking profits in a stock and simply replacing it with an option on the same stock.

The rules are quite clear that the loss would not be allowed.

But what about when different stocks trade similarly? Take the quantum computing industry, for example.

There are a number of stocks like IonQ Inc. (IONQ), D-Wave Quantum (QBTS), Rigetti Computing (RGTI), and Quantum Computing (QUBT).

Even though they are very different companies, they are all in the same industry. So the stocks trade similarly.

There’s nothing stopping you from taking a loss in a stock in this group that you bought recently and using the proceeds to buy back another stock in that industry.

Again, consult your own tax counsel here. But the rules are pretty clear.

Upgrade Your Portfolio

Even better, why not upgrade your portfolio?

In this recent selloff, we have seen some of the highest-quality companies sell off dramatically.

Take a look at the stock chart of Meta Platforms Inc. (META).

The company reported awesome results at the end of October, yet the stock is down almost 20% from when it reported.

This is one of the best stocks of all time, and the company is crushing results.

Why not take some of your losses and rotate the capital into a long-term winner that’s trading at a great price?

There are other examples out there, but I think this is the best one.

This is a great time of year to think about positioning your portfolio. A few simple moves can save you — and even make you — some big dollars.

I encourage you to be proactive in these next few weeks so you can fully enjoy the holiday season with family and friends.