My best ASX 200 shares to buy in January

A new year often brings fresh optimism for investors, and January can be a great time to revisit an investment portfolio.

But which ASX 200 shares could be great picks for investors right now?

Let’s take a look at three that I think are among the best to buy this month and for 2026:

CSL Ltd (ASX: CSL)

It may have disappointed in 2025, but CSL remains one of the highest-quality companies on the Australian share market. The global biotech leader dominates the blood plasma market and has a deep pipeline of therapies that should be supportive of long-term earnings growth.

Short-term issues, including margin pressures, albumin demand, and weak influenza vaccine sales, have weighed on sentiment. But these factors don’t change the core investment case. Demand for plasma therapies continues to grow globally, barriers to entry are extremely high, and CSL’s scale gives it a significant competitive advantage.

For patient investors, January could be an attractive time to accumulate shares while the market remains cautious, rather than chasing the stock once momentum returns.

Macquarie Group Ltd (ASX: MQG)

Macquarie is Australia’s leading global investment bank. Its earnings are diversified across asset management, infrastructure, commodities, and capital markets. This helps smooth returns across economic cycles.

While there has been underperformance in parts of its business in FY 2026, I don’t expect this to be for long. Macquarie has a long history of adapting to changing conditions. Its asset management division continues to grow funds under management, while its infrastructure expertise positions it well for long-term global investment trends.

For investors looking for an ASX 200 share with exposure well beyond the domestic economy, Macquarie remains a high-quality option to consider early in the year.

Woolworths Group Ltd (ASX: WOW)

Woolworths may not be the most exciting stock on the market, but its reliability is exactly what makes it appealing. As one of Australia’s dominant supermarket operators, it generates steady cash flow regardless of economic conditions.

Margin pressure and increased competition have been weighing on its performance over the past 12 months, but there are signs that the worst is now behind it. In addition, during this time Woolworths has continued to invest heavily in automation, supply chain efficiency, and digital capability. Over time, I believe these investments will bear fruit and position it for the future.

For investors building a balanced ASX 200 portfolio, Woolworths offers defensive characteristics that can complement higher-growth holdings. And with its shares down meaningfully from their highs, now could be an opportune time to load up on them.

The post My best ASX 200 shares to buy in January appeared first on The Motley Fool Australia.

More reading

• Buy, hold, sell: Amcor, ANZ, and Macquarie shares
• What I look for in ASX shares when uncertainty is everywhere
• Brokers name 3 ASX shares to buy today
• 5 fantastic ASX ETFs for beginners in 2026
• How to retire with a $1 million ASX share portfolio

Motley Fool contributor James Mickleboro has positions in CSL and Woolworths Group. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL and Macquarie Group. The Motley Fool Australia has positions in and has recommended Macquarie Group and Woolworths Group. The Motley Fool Australia has recommended CSL. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.