Goldman Sachs advised on transactions worth $687.6 billion in the first nine months of 2026, giving it the highest M&A value total even as another adviser led by deal count. Houlihan Lokey led transaction volume with 250 deals.
The value total was 52.3% above the same period in 2025, when Goldman ranked second. One table aggregates deal values; the other records deal volume. Neither ranking measures advisory fees.
Morgan Stanley's 212 deals carried $659.9 billion in value, placing it second in both rankings. JPMorgan's 165 transactions totaled $492.5 billion, enough for third place on each list.
With 154 transactions, Goldman was fourth on the volume table. Houlihan Lokey's 250-deal showing also repeated its first-nine-month lead from 2025. Evercore was next in deal count at 133.
At $315.1 billion, Bank of America ranked fourth on value, while Evercore's $278.7 billion placed it fifth. Goldman advised on 81 deals worth at least $1 billion, including 22 valued above $10 billion.
