In this article, we discuss Goldman Sachs’s Top 12 Growth Stock Picks.
During much of the market cycle leading up to 2026, the United States equities markets were largely defined by growth stocks. However, data shows a clear shift in tone as 2026 drags on. In 2025, for instance, the S&P 500 Growth Index gained 22.18%, and this was an underperformance based on 2024 performance, which was 35.66%. As of February 18, 2026, however, the index was down 2.46% year to date. In contrast, the broader S&P 500 was up 0.33% year to date.
To ValueWalk’s Jacob Wolinsky, this is an all too familiar script. According to Wolinsky, value stocks outperformed growth stocks for the first part of 2025.
“Investors came into 2025 wary of high valuations after two straight years of huge returns for mostly growth and tech stocks,” said Wolinsky, adding that “As a result, there was a rotation out of overvalued large cap growth names into value, smaller caps, and more stable investments.”
However, things flipped in the second half of the year after the ‘Liberation Day’-inspired rout in April. Sentiment changed and investors rushed back to tech and growth stocks, which were now cheaper, according to Wolinsky. By the end of the year, the tech-heavy Nasdaq Composite topped a 20% performance and outperformed the broader market. So, if this script were to replicate in 2026, Wolinsky expects growth stocks’ performance to beat value and other stocks across the board by yearend.
This is the environment in which Goldman Sachs Group Inc.’s asset management segment operates. The segment posted blowout performance last year; Goldman’s Asset and Wealth Management division closed 2025 with a record $3.61 trillion in total assets under supervision (AUS). In the three months ended December 31, 2025, the fund added $154 billion in AUS, and $469 billion in the whole of 2025.
According to Goldman’s own survey, asset managers, especially hedge funds, surpassed expectations in 2025. They delivered double-digit returns for the second year running. For that reason, Goldman expects more money to be allocated to this category of funds this year. In other words, investors are more confident about the stock picks that asset managers like Goldman Sachs make in 2026. Because this fund has substantial interest in growth stocks, this article will highlight some of its top picks.
Source: Pexels.com
Our Methodology
To create this list, we analyzed Goldman Sachs’ portfolio in Insider Monkey, focusing on the 13F filing for the quarter ended December 31, 2025. We scanned for high growth stocks that have posted gains in revenue and earnings by more than 10% over the last five years and boast an upside potential of more than 20% as of February 20, 2026. We then ranked the stocks according to the value of Goldman Sachs’ stakes in them.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 427.7% since May 2014, beating its benchmark by 264 percentage points (see more details here).
Goldman Sachs’s Top 12 Growth Stock Picks
12. Shopify Inc. (NYSE:SHOP)
Goldman Sachs’s Stake: $2,121,559,619
5-Year Sales Growth: 15.08%
5-Year Earnings Growth: 31.58%
Stock Upside: 31.54%
Shopify Inc. (NYSE:SHOP) is one of Goldman Sachs’s top growth stock picks. On February 17, Truist Securities analyst Terry Tillman upgraded Shopify, Inc. (NASDAQ:SHOP) from Hold to Buy and raised his price target on the stock from $110 to $150.
Tillman cited the main reason for the upgrade as an industry-wide drop in software stock valuations brought on by investor anxiety over artificial intelligence. Tillman pointed out that Shopify is one of very few software companies that has recently been able to show strong and accelerating growth at a time when many of its peers are struggling.
The analyst identified five areas he believes will drive Shopify’s growth over the long term: expansion into international markets, continued development of its payments business, growing adoption by large enterprise customers, growth in its business-to-business segment, and the emerging opportunity in what he called “agentic commerce.”
In a different update, Shopify shared its Q4 2025 earnings on February 11, and described the quarter as record-breaking. Quarterly revenue came in at $3.67 billion, up 31% year over year and ahead of the Wall Street consensus of $3.59 billion. This growth was driven by stronger merchant adoption of payments and subscription services.
The quarter’s adjusted EPS was $0.48, just below the $0.50 analyst estimate. Management explained that the EPS miss was because the company absorbed higher costs tied to artificial-intelligence development, marketing, and international expansion.
Shopify guided for low-30% revenue growth in Q1 2026, well above Wall Street’s earlier estimate of 25%. The company also expects gross profit to grow 27% year over year in the first three months of FY2026.
Shopify Inc. (NYSE:SHOP) provides cloud-based commerce solutions that allow merchants to set up, manage, and scale online and offline retail operations. Its platform includes tools for payments, marketing, logistics, and analytics, serving millions of businesses worldwide.
11. Palantir Technologies Inc. (NASDAQ:PLTR)
Goldman Sachs’s Stake: $2,215,027,028
5-Year Sales Growth: 32.58%
5-Year Earnings Growth: 177%
Stock Upside: 46.99%
Palantir Technologies Inc. (NASDAQ:PLTR) is one of Goldman Sachs’s top growth stock picks. On February 18, Palantir Technologies Inc. (NASDAQ:PLTR) named Rackspace Technology its dedicated data migration and global implementation partner for its two flagship platforms, Foundry and Artificial Intelligence Platform, or AIP. Foundry facilitates enterprise data integration and analytics, and AIP operationalizes AI in real-world business decisions.
According to Palantir, enterprise clients have long struggled to move its deployments from pilot programs into full production. Now, the partnership with Rackspace simplifies and expedites it. Rackspace addresses issues such as complexity of data migration, security compliance, and cloud infrastructure setup using a governed operating model. Its pre-built security, compliance, and operational controls across hybrid cloud environments wraps around Palantir’s platforms and eliminates the need for clients to build that infrastructure themselves. This cuts deployment timelines to weeks or months.
Separately, on February 11, investor Michael Burry presented a bear case against Palantir and raised concerns about the broader AI investment cycle. In a 10,000-word essay published on Substack, Burry argued that the current pace of investment in AI infrastructure is unlikely to generate the long-term returns that investors are expecting.
On Palantir, Burry noted that the company was caught off guard by the rise of ChatGPT and the rapid commercialization of large language models, and that following that development, management began heavily featuring AI language in its earnings communications.
Burry also challenged Palantir’s reported profitability. He argued that a large portion of the company’s earnings is effectively an “illusion” because the company relies heavily on stock-based compensation. So, when stock grants are counted as a real expense, the company’s profitability looks considerably weaker.
A day after Burry’s essay, on February 12, analysts at DA Davidson issued a response in which they concluded that Burry’s essay contained “no new evidence or an argument” that would lead them to change their view on Palantir’s business. As such, the firm maintained its Neutral rating on Palantir. They stated that the firm does agree with Burry’s broader concerns about the AI investment cycle and the issue of data center depreciation, but draws a clear distinction between those macro concerns and the specific situation at Palantir.
Palantir Technologies Inc. (NASDAQ:PLTR) develops software platforms for data integration, analytics, and decision-making, serving government agencies and commercial enterprises. Its products, including Palantir Foundry and Gotham.
10. Lam Research Corporation (NASDAQ:LRCX)
Goldman Sachs’s Stake: $2,539,883,908
5-Year Sales Growth: 12.92%
5-Year Earnings Growth: 22.42%
Stock Upside: 20.24%
Lam Research Corporation (NASDAQ:LRCX) is one of Goldman Sachs’s top growth stock picks. On February 17, Lam Research Corporation (NASDAQ:LRCX) opened a new office in Boise, Idaho. The new facility spans 9,200 sq. ft. and will initially accommodate about 150 employees from the greater Boise area.
Neil Fernandes, Lam Research’s senior vice president of Global Customer Operations led the ribbon cutting ceremony. Commenting on the occasion, Fernandes said the company’s “expansion in Idaho provides critical infrastructure near one of our largest customers and enables us to accelerate our operations in America’s leading hub for world-class memory chip manufacturing.”
According to the press release, the new office will focus on collaborative research, development, and high-volume manufacturing of Micron Technology’s (NASDAQ:MU) advanced memory chips. Micron is also headquartered in Boise and is one of Lam’s biggest customers.
Separately, on February 5, Lam’s Board of Directors approved a quarterly cash dividend of $0.26 per share of common stock. Eligible shareholders must be on record by March 4, 2026, and payment will be issued on April 8. The $0.26 per share payment was first declared in September 2025, when the board raised the quarterly payout from $0.23.
Lam Research Corporation (NASDAQ:LRCX) supplies wafer fabrication equipment and services used in semiconductor manufacturing, specializing in etch and deposition process technologies. The company’s tools are critical for advanced logic and memory production, including NAND and DRAM devices.
9. Mastercard Incorporated (NYSE:MA)
Goldman Sachs’s Stake: $3,360,854,484
5-Year Sales Growth: 16.50%
5-Year Earnings Growth: 20.99%
Stock Upside: 26.14%
Mastercard Incorporated (NYSE:MA) is one of Goldman Sachs’s top growth stock picks. On February 12, Mastercard Incorporated’s (NYSE:MA) open finance technology became the backbone of Truist Financial’s first-ever open banking platform. Truist will use Mastercard’s open finance API network to replace the risky practice of credential-sharing with tokenized, permissioned API connections. The technology acts as the secure bridge between Truist’s banking systems and third-party fintech applications, and gives consumers full control over who accesses their data and for how long.
Truist is Mastercard’s latest and most prominent US bank partner on this open finance push. Mastercard’s own research projects that global open banking usage will double by 2027. It also estimates that 100 million US consumers already connect their bank accounts to third-party financial apps, a market Mastercard is actively positioning itself to facilitate.
Bart Willaert, Mastercard’s EVP of Open Finance for the Americas, commented on the development and stated that “secure, convenient financial experiences are a gamechanger – but trust is the critical ingredient to ensuring clients and businesses can tap into their full potential.”
Meanwhile, Mastercard’s Board of Directors declared a quarterly cash dividend of $0.87 per share on February 10. All stockholders of record as of April 9, 2026, will receive the payment on May 8, said Mastercard.
Mastercard Incorporated (NYSE:MA) operates a global payments network that facilitates electronic transactions between consumers, merchants, financial institutions, and governments. Its services include credit, debit, prepaid, and commercial card programs, as well as digital payment solutions and fraud prevention technologies.
8. Visa Inc. (NYSE:V)
Goldman Sachs’s Stake: $5,395,228,345
5-Year Sales Growth: 12.86%
5-Year Earnings Growth: 16.46%
Stock Upside: 27.38%
Visa Inc. (NYSE:V) is one of Goldman Sachs’s top growth stock picks. On February 10, Truist Securities analyst Matthew Coad cut the firm’s price target on Visa, Inc. (NYSE:V) to $372 from $374, while keeping a Buy rating on the stock. The target adjustment was part of a broader research update in which Truist revised its financial models across a group of payment companies following their most recent quarterly earnings releases.
In explaining the small reduction to the price target, Coad cited several factors that partially offset each other. On the positive side, Truist revised upward its assumptions for Visa’s “Other Revenue” category. This action, the firm said, was supported by elevated marketing services tied to Olympic-related activity, as well as a modestly more favorable foreign exchange outlook. On the other side, those positive revisions were outweighed by Truist’s higher-than-previously-expected operating expense projections for Visa. These pulled the net target slightly lower.
Independent of the analyst action, on February 5, Visa unveiled Visa & Main, a US-focused platform meant to help small businesses access funding, reach customers, and adopt modern tools.
Visa said the platform is structured around three pillars: Business Capital, Business Connect, and Business Essentials. The company framed the launch around common small-business pain points and said the goal is to “meet small business owners where they are,” including through local, community-based activations.
Visa Inc. (NYSE:V) operates a global payments network. It enables digital transactions across credit, debit, and prepaid cards, as well as mobile and online payment platforms.
7. Eli Lilly and Company (NYSE:LLY)
Goldman Sachs’s Stake: $6,388,596,474
5-Year Sales Growth: 21.58%
5-Year Earnings Growth: 27.59%
Stock Upside: 24.44%
Eli Lilly and Company (NYSE:LLY) is one of Goldman Sachs’s top growth stock picks. On February 18, Eli Lilly and Company (NYSE:LLY) said using Taltz (ixekizumab) together with Zepbound (tirzepatide) worked better than Taltz alone in adults who had moderate-to-severe plaque psoriasis and also had obesity or were overweight.
Eli Lilly said the results came from its Phase 3b TOGETHER-PsO study, which tested Taltz alone vs. Taltz plus Zepbound. The trial enrolled 274 adults, split evenly between the two treatment groups, and all participants also received diet advice and guidance to increase physical activity. The company said the people in the study had a high disease burden. It added that side effects in the combination group were generally mild to moderate and matched what is already known about each medicine.
On the same day, February 18, Reuters reported that Eli Lilly signed an exclusive licensing agreement with CSL Limited for clazakizumab, an anti-interleukin-6 (IL-6) monoclonal antibody. CSL is an Australian multinational biotechnology company.
According to Reuters, Lilly will take on development and commercialization in indications covered by the license. For CSL, the company will keep clazakizumab rights for preventing cardiovascular events in people with end-stage kidney disease.
Lilly will pay CSL $100 million upfront, Reuters said, and there will be additional potential clinical, regulatory, and commercial milestone payments. The deal also includes royalties tied to global net sales.
Eli Lilly and Company (NYSE:LLY) is a pharmaceutical manufacturer. It develops treatments across therapeutic areas including diabetes, oncology, immunology, and neuroscience.
6. Meta Platforms, Inc. (NASDAQ:META)
Goldman Sachs’s Stake: $10,202,109,938
5-Year Sales Growth: 18.51%
5-Year Earnings Growth: 18.46%
Stock Upside: 32.15%
Meta Platforms, Inc. (NASDAQ:META) is one of Goldman Sachs’s top growth stock picks. On February 12, the board of directors of Meta Platforms, Inc. (NASDAQ:META) declared a quarterly cash dividend of $0.525 per share for both Class A and Class B common stock. The dividend will be payable on March 26, 2026, to shareholders of record as of March 16, 2026.
Earlier, on February 5, Allegro.eu SA announced a trial partnership with Meta to display selected ads from private individuals on Facebook Marketplace. The collaboration will feature listings from Allegro Lokalnie, the company’s local marketplace platform, marking a new cross‑platform integration between Allegro’s marketplace and Meta’s social ecosystem.
The companies plan to evaluate the effectiveness of this trial before deciding on expansion. The initiative aims to test how seamlessly content can be shared between the two platforms, potentially opening the door to deeper collaboration in the future.
Separately, on February 10, Citizens reiterated a Market Outperform rating and $900 target on Meta Platforms, citing accelerating Instagram engagement, with global time spent up 18% YoY and U.S. usage rising at least 16% for six straight months.
Meta Platforms, Inc. (NASDAQ:META) is a technology company. It operates social networking applications including Facebook, Instagram, WhatsApp, and Messenger. Its products include digital advertising solutions and artificial intelligence systems that enhance ad targeting and user engagement.
5. Broadcom Inc. (NASDAQ:AVGO)
Goldman Sachs’s Stake: $11,543,527,594
5-Year Sales Growth: 21.74%
5-Year Earnings Growth: 49.76%
Stock Upside: 37.33%
Broadcom Inc. (NASDAQ:AVGO) is one of Goldman Sachs’s top growth stock picks. On February 17, Cathie Wood’s ARK ETF disclosed that it acquired 24,205 shares of Broadcom Inc. (NASDAQ:AVGO), valued at about $7.87 million. This was after the fund divested $13.7 million worth of Teradyne Inc. (NASDAQ:TER) stock.
Separately, on February 10, UBS analyst Timothy Arcuri reiterated a Buy rating and maintained a $475 price target on Broadcom. Arcuri cited accelerating demand for Broadcom’s custom AI chip products, specifically its Tensor Processing Units (TPUs). For that reason, he projected that Broadcom will ship approximately 3.7 million TPU units in calendar year 2026, and expects the shipment to rise to more than 5 million units in calendar year 2027.
On the product roadmap, Arcuri noted that more than half of 2027 shipments will be the TPU v7 model. The next-generation TPU v8ax will take over as the majority of shipments in 2028, the analyst added.
Based on those shipment projections, UBS now forecasts Broadcom’s total AI revenue will reach approximately $60 billion in FY2026, a roughly 200% year over year increase. This revenue will then grow further to about $106 billion in FY2027, which is an additional 80% year over year, and reaching around $150 billion by FY2028.
Broadcom Inc. (NASDAQ:AVGO) is a semiconductor and infrastructure software company. It designs and supplies products including custom chips, networking solutions, and enterprise software used across industries such as cloud computing, telecommunications, and data centers.
4. Amazon.com, Inc. (NASDAQ:AMZN)
Goldman Sachs’s Stake: $14,810,346,563
5-Year Sales Growth: 13.18%
5-Year Earnings Growth: 27.96%
Stock Upside: 39.17%
Amazon.com, Inc. (NASDAQ:AMZN) is one of Goldman Sachs’s top growth stock picks. On February 20, Moody’s Ratings revised its outlook on Amazon.com, Inc. (NASDAQ:AMZN) to stable from positive, while affirming the company’s A1 senior unsecured rating.
The agency cited Amazon’s dominant market position and brand strength but noted that its decision to boost capital spending by over 50%, to nearly $200 billion, will weigh on cash generation. The investment cycle is aimed at expanding AWS and meeting rising AI demand, but Moody’s expects Amazon will need external funding to support the scale of spending.
Despite these pressures, Amazon’s operations remain strong, supported by improved fulfillment efficiencies and resilient cash balances. AWS continues to be the company’s growth engine, though competition in AI is intensifying. Moody’s indicated that a future upgrade would require consistent profit growth and positive free cash flow, while the stable outlook reflects confidence in Amazon’s conservative financial strategies and robust cash‑to‑debt position
On February 13, Amazon-backed X-energy said its fuel subsidiary, TRISO-X, received a US Nuclear Regulatory Commission (NRC) Special Nuclear Material License to commercially manufacture HALEU nuclear fuel.
The license covers TRISO-X’s first two commercial fuel facilities, TX-1 and TX-2, in Oak Ridge, Tennessee, and runs for an initial 40-year term. X-energy said the NRC approval makes TX-1 and TX-2 the first new nuclear fuel facilities licensed by the NRC in more than 50 years.
Amazon.com, Inc. (NASDAQ:AMZN) is an e-commerce and cloud computing company. It operates online retail platforms, logistics networks, and subscription services, while also providing cloud infrastructure through AWS.
3. Alphabet Inc. (NASDAQ:GOOGL)
Goldman Sachs’s Stake: $16,336,076,438
5-Year Sales Growth: 17.10%
5-Year Earnings Growth: 29.82%
Stock Upside: 26.92%
Alphabet Inc. (NASDAQ:GOOGL) is one of Goldman Sachs’s top growth stock picks. On February 18, Google, an Alphabet Inc. (NASDAQ:GOOGL) subsidiary, launched Lyria 3 in beta inside the Gemini app. Lyria 3 is a Google DeepMind music-generation model. The model enables users to generate short music tracks from a prompt or by uploading a photo, and in some cases a video.
Google said Lyria 3 improves on earlier Lyria models in three main ways. First, it can generate lyrics for you, and, second, gives you more control over style, vocals, tempo, and, third, it can create more realistic and musically complex tracks. The company added that users can use Lyria 3 to describe genre or mood or memory or inside joke and upload media and Gemini composes music that fits the mood.
In a separate update, on February 17, Citizens JMP analyst Andrew Boone maintained a Market Outperform rating on Alphabet and kept his $385 price target unchanged. Boone stated that Alphabet has the ability to grow its search business in an era of advancing artificial intelligence.
The analyst argued that, contrary to fears that AI would erode Google’s dominance in search, the technology’s rise instead enlarges the total pool of queries that search engines can serve. More specifically, Boone argued that AI-powered search can now extract commercial intent from questions that were previously treated as purely informational. This means that queries that once generated no advertising revenue can now be connected to advertisers, which effectively expands Google’s monetizable search universe.
Alphabet Inc. (NASDAQ:GOOGL) is a technology company. It operates businesses including Google Search, YouTube, Google Cloud, and Android, and develops products in areas such as advertising, cloud computing, and artificial intelligence.
2. Microsoft Corporation (NASDAQ:MSFT)
Goldman Sachs’s Stake: $24,839,150,587
5-Year Sales Growth: 14.52%
5-Year Earnings Growth: 18.80%
Stock Upside: 50.15%
Microsoft Corporation (NASDAQ:MSFT) is one of Goldman Sachs’s top growth stock picks. On February 18, Microsoft Corporation (NASDAQ:MSFT) and CrowdStrike announced that the CrowdStrike Falcon cybersecurity platform is now available for purchase on Microsoft Marketplace. Customers can now apply existing Microsoft Azure Consumption Commitment (ACC) toward those purchases.
Microsoft said the marketplace availability is designed to streamline procurement and billing for organizations buying Falcon. The company framed the move as helping customers deploy Falcon’s unified, AI-native protection across endpoints, cloud workloads, identity, AI, and data.
Commenting on the development, Microsoft’s commercial business CEO Judson Althoff said, “Security is the foundation for AI Transformation,” and added that enabling ACC to be used toward Falcon on Microsoft Marketplace gives customers “financial flexibility” to optimize cloud spend while adopting a rigorous security posture.
In a different update, on February 17, Microsoft and Ericsson said they are integrating enterprise 5G management capabilities into Windows 11. This will make 5G-connected PCs easier to deploy, secure, and manage at scale.
Microsoft’s Windows 11 operating system will act as the enterprise platform where 5G-connected PCs can be deployed and managed broadly. At the same time, Microsoft Intune, a cloud-based unified endpoint management service, will be used as the IT control plane for provisioning, management, and security of devices and their 5G connectivity.
Microsoft Corporation (NASDAQ:MSFT) is a technology company. It develops and sells software, hardware, and cloud services, including Windows, Office, Azure, and LinkedIn.
1. NVIDIA Corporation (NASDAQ:NVDA)
Goldman Sachs’s Stake: $31,081,383,306
5-Year Sales Growth: 64.24%
5-Year Earnings Growth: 91.83%
Stock Upside: 32.99%
NVIDIA Corporation (NASDAQ:NVDA) is one of Goldman Sachs’s top growth stock picks. On February 18, Morgan Stanley analyst Erik Woodring identified NVIDIA Corporation (NASDAQ:NVDA) as the most under-owned large-cap technology stock in the market.
Woodring stated that the gap between Nvidia’s weight in the S&P 500 and the share of the stock actively held by institutional investors stood at negative 2.57%. This is the largest negative gap among all major technology stocks, he noted.
The analyst stated that the under-ownership is just as striking at the broader sector level. He noted that megacap technology stocks overall are the most under-owned they have been in 17 years, with the aggregate ownership gap between megacap tech and the S&P 500 widening to negative 155 basis points by the end of Q4 2025.
Separately, on the same day, February 18, NVIDIA Corporation disclosed in a regulatory filing that it held 4.82 million shares of Synopsys valued at more than $2 billion. The position made NVIDIA the sixth-largest shareholder in Synopsys, an electronic design automation software provider.
In a different update, on February 17, Reuters reported that Yotta Data Services will acquire over $2 billion worth of NVIDIA’s latest Blackwell Ultra chips. Yotta is part of the Hiranandani Group, an Indian digital transformation provider. Reuters said Yotta will use the Blackwell Ultra chips to build an AI computing hub in India.
NVIDIA Corporation (NASDAQ:NVDA) is a semiconductor company. It designs and manufactures graphics processing units and related technologies used in gaming, data centers, artificial intelligence, and autonomous systems.
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