Investment is an activity that related to investing some funds in real assets or financial assets such as land, gold, stocks, deposits, bonds and other forms. The high level of risk that will be faced by investors, make investors to take anticipatory steps. One of the solutions is through diversification in portfolio forming. The importance of portfolio forming is to maximize the function and value of an asset in order to make greater returns with a certain level of risk, or to obtain certain returns with the minimum level of risk. Portfolio analysis is carried out to find the most optimal company as an investment object. This research uses the Markowitz model for food and beverage company stocks based on data from December 2019 to November 2020. The results showed there are 7 stocks that were selected as candidates for optimal portfolio forming. A proportion of the allocation of each stock are PT Siantar Top Tbk (STTP) 10.14%, PT Sentra Food Indonesia Tbk (FOOD) 8.95%, PT Pratama Abadi Nusa Industri Tbk (PANI) 5.06%, PT Prima Cakrawala Abadi Tbk (PCAR) 0.37%, PT Ultrajaya Milk Industry & Trading Company Tbk (ULTJ) 20.61%, PT Nippon Indosari Corpindo Tbk (ROTI) 48.05%, and PT Sekar Bumi Tbk (SKBM) 6.82%. With that combination, it gives the expected return of 21.12% and level of risk 7.95%.