2026 Portfolio
Launching my new Shariah-compliant portfolio
I’ve been a bit complacent with my stock picks recently. I also realize now that picking winning ideas, one at a time, from the Value Investors Club created a portfolio that takes too long to diversify. As a result, my previous portfolio made a measly 0.2% gain in three months, whereas a similar investment in the Vanguard S&P 500 ETF would have made 18%.
This was a sobering, but good experience. For 2026, I’ll abandon the current approach and adopt a more formula-based investing style. These companies are selected using a ranking algorithm I use and filtered for Shariah compliance on Zoya. I’ll write more about the ranking approach in another post, but I hope you find some ideas in this list.
Our portfolio consists of 30 companies, each with equal weight. That means no more than 4% exposure in each company at the start. I’ll reset the purchase price to the closing price on 31 December 2025 and post monthly updates on its performance throughout 2026.
Here is the list of companies.
1. Alkermes (ALKS)
Alkermes plc is a biopharmaceutical company that researches, develops, and commercializes pharmaceutical products to address unmet medical needs in various therapeutic areas. Its marketed products include treatments for schizophrenia, alcohol and opioid dependence, bipolar disorder, and multiple sclerosis. The company is also developing drug candidates for schizophrenia, bipolar disorder, and cancer immunotherapy.
2. Expedia Group (EXPE)
Expedia Group, Inc. is a global online travel company operating through multiple segments and brands, offering a wide range of travel-related services, including hotel bookings, alternative accommodations, flights, car rentals, cruises, and vacation packages. The company caters to both leisure and corporate travelers through its diverse portfolio of well-known brands, including Expedia, Hotels.com, Vrbo, Orbitz, and Trivago. Founded in 1996 and headquartered in Seattle, Washington, Expedia Group has expanded its reach internationally and continues to innovate in the online travel industry.
3. Incyte Corporation (INCY)
Incyte is a biopharmaceutical company based in Wilmington, Delaware, that specializes in developing and commercializing proprietary therapeutics. The company offers several drugs for treating various cancers and other diseases, including JAKAFI, PEMAZYRE, and ICLUSIG, and has a robust pipeline of clinical-stage products. Incyte collaborates with numerous pharmaceutical and biotechnology companies to advance its oncology and other therapeutic research and development efforts.
4. Tactile Systems Technology (TCMD)
Tactile Systems Technology is a medical technology company that develops and provides medical devices for the treatment of chronic diseases like lymphedema, venous disorders, and retained pulmonary secretions. It offers products such as the Flexitouch Plus system for lymphedema treatment, the Entre system for at-home treatment of venous disorders, and the AffloVest for the treatment of retained pulmonary secretions. The company was incorporated in 1995 and is headquartered in Minneapolis, Minnesota.
5. Yelp (YELP)
Yelp operates a platform that connects consumers with local businesses in the United States and internationally across categories such as restaurants, shopping, beauty and fitness, health, and more. The company provides free and paid advertising products to businesses, including cost-per-click search advertising, multi-location Ad products, and business listing page products. It also offers services like Yelp Reservations, Yelp Waitlist, Yelp Knowledge program, and Yelp Fusion, catering to various business needs.
6. Rigel Pharmaceuticals (RIGL)
Rigel Pharmaceuticals, a biotechnology company, discovers and develops small-molecule drugs to treat hematologic disorders, cancer, and rare immune diseases. The company offers Tavalisse for the treatment of adult patients with chronic immune thrombocytopenia. It is developing several other drug candidates in various stages of clinical trials for autoimmune, inflammatory, and hematology-oncology diseases. It has research and license agreements with several pharmaceutical companies for the development and commercialization of its drug candidates.
7. Progyny (PGNY)
Progyny is a benefits management company specializing in fertility and family-building benefits solutions for employers in the United States. Its fertility benefits solution includes differentiated benefits plan design, personalized concierge-style member support services, and a selective network of fertility specialists. The company also offers Progyny Rx, an integrated pharmacy benefits solution, as well as surrogacy and adoption reimbursement programs for employers.
8. TechnipFMC (FTI)
TechnipFMC plc is an oil and gas company engaged in two segments: Subsea and Surface Technologies. The Subsea segment designs, engineers, and provides services for subsea systems used in oil and gas production and transportation. In contrast, the Surface Technologies segment manufactures and services products and systems used in land and shallow water exploration and production of crude oil and natural gas. The company operates globally and has a strategic alliance with Talos Energy Inc. for Carbon Capture and Storage projects.
9. F5 (FFIV)
F5, Inc. is a Seattle-based company that specializes in multi-cloud application security and delivery solutions. They offer a wide range of products and services designed to help businesses develop, deploy, operate, secure, and govern applications across various architectures, from on-premises to public cloud environments. F5 partners with major cloud providers and serves large enterprises, public sector institutions, and service providers worldwide through a network of distributors, resellers, and systems integrators.
10. Cal-Maine Foods (CALM)
Cal-Maine Foods produces, grades, packages, markets, and distributes shell eggs. The company offers specialty shell eggs under brand names such as Egg-Land's Best, Land O' Lakes, Farmhouse Eggs, and 4-Grain, as well as private-label products. It sells its products to grocery store chains, club stores, independent supermarkets, foodservice distributors, and egg product consumers primarily in the southwestern, southeastern, midwestern, and mid-Atlantic regions of the United States.
11. Armstrong World Industries (AWI)
Armstrong World Industries, Inc. designs, manufactures, and sells ceiling systems primarily for residential and commercial buildings in the United States, Canada, and Latin America through its Mineral Fiber and Architectural Specialties segments. The company produces suspended mineral fiber, soft fiber, fiberglass wool, metal ceiling systems, wood, wood fiber, glass-reinforced-gypsum, felt ceiling and wall systems, ceiling component products, acoustical controls, facades, and partitions. Its products are sold to resale distributors, ceiling system contractors, wholesalers, and retailers.
12. Teradata Corporation (TDC)
Teradata provides a connected multi-cloud data platform for enterprise analytics through its Teradata Vantage offering. It offers business consulting services to support organizations in establishing a data and analytics vision, operationalizing analytical opportunities, enabling a multi-cloud ecosystem architecture, and ensuring the analytical infrastructure delivers value. The company serves clients across various sectors, including financial services, government, healthcare, manufacturing, retail, telecommunications, and travel/transportation, through a global direct sales force.
13. BK Technologies Corporation (BKTI)
BK Technologies Corporation designs, manufactures, and markets wireless communications products, including two-way land mobile radios, repeaters, base stations, and related components and subsystems. The company's BK Technologies, BKR, and BK Radio-branded products cater to professional radio users in government, public safety, and military applications. In contrast, its RELM-branded products provide two-way communications for commercial and industrial applications. BK Technologies Corporation is headquartered in West Melbourne, Florida.
14. Electromed (ELMD)
Electromed develops, manufactures, markets, and sells airway clearance therapy and related products that apply high-frequency chest wall oscillation (HFCWO) therapy in pulmonary care for patients of various ages. The company offers SmartVest airway clearance system, SmartVest SQL System, and SmartVest Connect, a wireless technology with a personalized HFCWO therapy management portal. It primarily targets the home health care market for patients with bronchiectasis, cystic fibrosis, and neuromuscular disease, marketing its products to physicians, health care providers, and patients directly.
15. Red Violet (RDVT)
Red Violet is a software and services company that specializes in proprietary technologies and analytical capabilities to deliver identity intelligence. It offers idiCORE, an investigative solution used for due diligence, risk mitigation, identity authentication, and regulatory compliance, as well as FOREWARN. This app-based solution provides instant knowledge before face-to-face consumer engagement. The company serves various industries, including financial services, insurance, healthcare, retail, telecommunications, law enforcement, and government agencies.
16. InfuSystem Holdings (INFU)
InfuSystem Holdings, through its subsidiaries, provides infusion pumps and related products and services in the United States and Canada. The company operates in two segments, Integrated Therapy Services (ITS) and Durable Medical Equipment Services (DME Services). It supplies electronic ambulatory infusion pumps and associated disposable supply kits to oncology, infusion, and hospital outpatient chemotherapy clinics for the treatment of various cancers, pain management, and other disease states.
17. Harmonic (HLIT)
Harmonic Inc., together with its subsidiaries, provides video delivery software, products, system solutions, and services worldwide through its Video and Cable Access segments. The Video segment offers video processing, production, and playout solutions and services to cable operators, satellite and telecommunications Pay-TV service providers, and streaming media companies. The Cable Access segment provides cable access solutions based on CableOS software and central cloud services primarily to cable operators.
18. ExlService Holdings (EXLS)
ExlService Holdings, Inc. operates as a data analytics and digital operations and solutions company, providing services across the insurance and healthcare industries, including claims processing, policy administration, care management, and analytics-driven solutions leveraging digital technology, artificial intelligence, and automation. It offers platforms and software solutions, including CareRadius, LifePRO, LISS, and Subrosource, to meet various industry-specific needs. The company was founded in 1999 and is headquartered in New York City.
19. Cricut (CRCT)
Cricut designs and markets a creativity platform that enables users to turn ideas into professional-looking handmade goods. It operates in three segments: Connected Machines, Subscriptions, and Accessories and Materials. The company offers connected machines, design apps, and accessories and materials for users to create personalized items such as birthday cards, mugs, T-shirts, and large-scale interior decorations.
20. Intuit (INTU)
Intuit Inc. is a financial technology company headquartered in Mountain View, California, offering a wide range of financial management, compliance, and marketing products and services across four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax. The company's offerings include popular software and platforms such as QuickBooks, TurboTax, Mailchimp, and Credit Karma, catering to small businesses, self-employed individuals, consumers, and tax professionals. Intuit's products and services are distributed through various channels, including direct sales, mobile app stores, and partnerships.
21. Ralph Lauren Corporation (RL)
Ralph Lauren is a global lifestyle brand that designs, markets, and distributes a wide range of products, including apparel, accessories, home goods, and fragrances under various brand names. The company operates through multiple sales channels, including department stores, specialty stores, its own retail locations, and e-commerce platforms, with a significant international presence across North America, Europe, and Asia. Founded in 1967 and headquartered in New York, Ralph Lauren also manages a collection of restaurants and cafes that embody the brand's lifestyle aesthetic.
22. NetScout Systems (NTCT)
NetScout Systems, Inc. provides service assurance and cybersecurity solutions to protect digital business services against disruptions. The company offers management software, specialized platforms, and analytical modules to analyze and troubleshoot network traffic, as well as cybersecurity solutions to protect networks against distributed denial-of-service attacks and advanced threat detection.
23. Adtalem Global Education (ATGE)
Adtalem Global Education provides workforce solutions worldwide through its three segments: Chamberlain, Walden, and Medical and Veterinary. The Chamberlain segment offers nursing and health professions programs; the Walden segment offers online degrees in fields like nursing, education, and business; and the Medical and Veterinary segment provides programs in medical and veterinary education through institutions such as American University of the Caribbean School of Medicine and Ross University School of Veterinary Medicine.
24. Pure Storage (PSTG)
Pure Storage, Inc. provides data storage technologies, products, and services, offering a range of solutions, including FlashArray for block-oriented storage, FlashBlade for unstructured data workloads, and Portworx for cloud-native Kubernetes data management. The company's Purity software, shared across its products, provides enterprise-class data services such as data reduction, protection, and encryption, along with storage protocols for block, file, and object storage.
25. Paycom Software (PAYC)
Paycom Software, Inc. is a U.S.-based company providing cloud-based human capital management (HCM) solutions for small to mid-sized businesses. Founded in 1998 and headquartered in Oklahoma City, the company offers a comprehensive suite of software-as-a-service applications covering various aspects of the employment lifecycle, including recruitment, payroll, time management, talent management, and compliance. Paycom's HCM solution also includes innovative features such as mobile management tools, direct communication platforms, and remote-workforce-tracking capabilities.
26. Vicor Corporation (VICR)
Vicor Corporation, together with its subsidiaries, designs, develops, manufactures, and markets modular power components and power systems for converting electrical power. The company offers a range of brick-format DC-DC converters, complementary components, input and output voltage and power products, electrical and mechanical accessories, and custom power systems solutions. It serves independent manufacturers of electronic devices, original equipment manufacturers, and their contract manufacturers across various markets, including aerospace, defense, industrial automation, instrumentation, lighting, telecommunications, and transportation.
27. Remitly Global (RELY)
Remitly Global provides digital financial services for immigrants and their families, primarily offering cross-border remittance services in approximately 150 countries. The company was incorporated in 2011 and is headquartered in Seattle, Washington.
28. IDEXX Laboratories (IDXX)
IDEXX Laboratories, Inc. is a global company that develops and manufactures products for animal health, water testing, and human medical diagnostics. Operating through three main segments, the company offers a wide range of diagnostic tools, laboratory services, and software solutions for veterinarians, livestock producers, and water quality professionals. Founded in 1983 and headquartered in Maine, IDEXX markets its products through various channels, including direct sales and independent distributors.
29. Healthcare Services Group (HCSG)
Healthcare Services Group provides management and operating services to nursing homes, retirement complexes, rehabilitation centers, and hospitals in the United States through its Housekeeping and Dietary segments. The Housekeeping segment handles cleaning, disinfecting, sanitizing, and laundry services, while the Dietary segment offers food purchasing, meal preparation, and dietitian services, including menu development and clinical consulting.
30. KLA Corporation (KLAC)
KLA Corporation is a global company that designs, manufactures, and markets solutions for process control, enabling, and yield management in the semiconductor and related electronics industries. Operating through three segments, the company offers a wide range of products and services, including inspection and metrology systems, software solutions, and semiconductor, PCB, and display manufacturing technologies. KLA Corporation, formerly known as KLA-Tencor Corporation, was founded in 1975 and is based in Milpitas, California.
This post is for educational and informational purposes only and does not constitute financial, investment, or other professional advice. All information presented is based on personal opinion and should not be relied upon solely to make any investment decisions. You should always do your own research and consult with a licensed financial advisor, attorney, or other professional before making any financial decisions. Past performance is not indicative of future results.