Where I would invest $2,000 in ASX shares in February

With February now underway, I think it's a good time to think about putting fresh money to work rather than letting it sit idle. If I had $2,000 to invest right now, I wouldn't try to spread it too thin or chase anything speculative. I'd focus on a small number of growth-oriented ASX shares where I think the risk–reward looks attractive from here.

These are three stocks I'd be comfortable backing at the moment.

Zip Co Ltd (ASX: ZIP)

Zip Co is an ASX share I think the market has been overly harsh on.

The share price has been dragged down alongside the broader sell-off in tech and fintech, even though Zip itself has been doing the hard work operationally. It's no longer loss-making, cash flow has improved materially, and management has been far more disciplined around costs and credit.

What I like most is that Zip is still growing, but now with a much clearer focus on profitability rather than headline user numbers. If sentiment toward growth stocks improves even modestly, I think Zip could re-rate meaningfully from current levels.

Nanosonics Ltd (ASX: NAN)

Nanosonics is a higher-risk ASX share pick, but one I think has genuine upside if execution improves.

The medical device company already has a strong installed base with its trophon products, and that creates a recurring revenue stream through consumables and upgrades. On top of that, the approval of newer products like trophon3 and the CORIS system gives Nanosonics multiple shots at reigniting growth over the next few years.

The share price reflects a lot of scepticism right now. For me, that's exactly why it's interesting. If adoption of these newer platforms plays out as management expects, today's valuation could end up looking overly pessimistic.

Catapult Sports Ltd (ASX: CAT)

Catapult Sports is the kind of niche technology business I think about owning when markets are nervous.

Catapult operates in elite sports performance and analytics, an area that continues to grow as teams become more data-driven. Its software is deeply embedded once adopted, which supports high customer retention and recurring revenue.

The business has also been steadily improving margins and cash generation, which matters far more to me now than rapid top-line growth alone. With the share price well off its highs, I think Catapult offers an appealing mix of long-term relevance and near-term recovery potential.

How I'd think about the split

With $2,000, I'd be comfortable splitting the investment roughly evenly across these three ASX shares. That gives exposure to fintech, healthcare technology, and sports analytics without relying on a single outcome.

All three carry risk, but they're risks I think are already reflected in the share prices. For me, February looks like a reasonable time to start building or adding to positions like these.

The post Where I would invest $2,000 in ASX shares in February appeared first on The Motley Fool Australia.

Motley Fool contributor Grace Alvino has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Catapult Sports and Nanosonics. The Motley Fool Australia has positions in and has recommended Catapult Sports. The Motley Fool Australia has recommended Nanosonics. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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