- Selection process focuses on industry leaders with compelling strategies.
- Companies at the forefront of both emerging and established mega trends.
- Rigorous valuation overlay applied to HL’s analysis.
Derren Nathan, head of equity research, Hargreaves Lansdown:
“2025 has been a year of two halves for equity investors. Overall, markets have held up well, but heading into 2026, global tensions and a mixed economic outlook mean there could be sharper share price swings next year.
The good news? Uncertain times can suit long‑term investors. Trying to call every short‑term turn rarely works. A better plan is to spread money across regions, sectors and asset types, rather than relying on one theme or one market.
For investors looking to diversify and strengthen their portfolios for the years ahead, we’ve shared three of our five shares to watch for 2026 and beyond, each with a unique thematic investment case. For the full selection, investors should head to hl.co.uk.
Each offers something distinct and could play a valuable role as part of a long-term investment approach. That said, everything has a price, and we’ve run our slide rule to only include ideas where the market looks not to have overestimated the opportunities ahead.
Marks & Spencer goes into 2026 looking to rebuild after a tough year. A cyber‑attack hit online sales, mainly in Fashion, Home & Beauty, but bosses expect systems to be back to normal by spring. The Food division keeps winning customers, and if spending on digital and margins pays off, profits could bounce back.
Novo Nordisk had a rough 2025 as supply was tight, rivals pushed harder, and pricing came under pressure in diabetes and obesity care. Even so, demand is still huge. More factory capacity, stronger action against illegal copy drugs and the recent approval of its oral weight‑loss pill could lift confidence.
Nvidia remains a key name in the AI build‑out. Competition is rising, and some big buyers want more than one supplier, but the firm’s fast pace of new chips and strong position in advanced computing keep it central to big tech spending.”
