Sherlyta Ayuning Tyas,”Optimal Stock Portfolio: Markowitz Model Case Study on Companies Listed in IDX BUMN20 for The Year 2022-2024”, Thesis of Bachelor of Applied Science in Financial Analyst Study Program, Accounting Department, Semarang State Polytechnic, under the guidance of Dina Yeni Martia, S.S.T., M.Sc. and Muhammad Rois, S.E., M.Sc., January 2025, 87 pages. The aim of this study…