By Christopher Liew, CFA at The Motley Fool Canada
Are you a growth-focused investor looking for the best place to put your available or unused Tax-Free Savings Account (TFSA) contribution room? Three TSX stocks, all capital compounders, are viable options.
Tech superstar
Shopify (TSX:SHOP) is a must-own in a TFSA portfolio despite its subpar performance in 2026. SHOP is down 18.8% year-to-date but has surged 11.5% over the past month. The current share price is $179.19. The technology sector has been doing the heavy lifting for the TSX lately, advancing 18.4% in the last 30 days.
Market analysts recommend a buy rating. The bull sentiment stems from the strong 31% revenue growth in Q4 2025 and 11 consecutive quarters of 25% or more revenue growth. For the year, operating income and free cash flow (FCF) increased 37% and 26% year-over-year to US$1.5 billion and US$2 billion, respectively.
Shopify will also launch a Board-approved share repurchase program of up to $2 billion. Harley Finkelstein, President of Shopify, said, “2026 will be the year of the builders, and we’ll be powering them – from first sale to full scale.”
The $241 billion commerce company’s growth engines include agentic commerce, B2B and international expansion, and strategic AI tools.
Silver to gold
Discovery Silver (TSX:DSV) is a newly transformed gold producer following a major acquisition in April 2025. It acquired the Porcupine Complex in Ontario. While this $8.5 billion Canadian mining company still owns the large underdeveloped Cordero silver project in Mexico, it rebranded into a gold-focused entity.
The mining stock delivered an astounding 1,008% return in 2025. Interestingly, Discovery Silver did not generate revenue or earnings from mine operations in the full-year 2024 or Q1 2025. Still, net earnings in 2025 reached $106.8 million compared with $15.2 million net loss in the previous year.
Porcupine Complex is the most prolific mining site in Canada. It hosts three mine properties, a Dome mine property, and a milling facility. There are also several near-mine and regional exploration targets. Discovery Silver expects to operate at full capacity by 2027 or earlier.
DSV currently trades at $9.73 per share, with a total three-year return of plus-754%. Had you invested $6,000 three years ago, it would be worth $51,210.53 today.
High-flyer
MDA Space (TSX:MDA) continues to impress as one of TSX’s top-performing growth stocks. In the 2025 TSX30 annual ranking, the aerospace stock ranked 15th. At $46.21 per share, MDA is up 73.5% year-to-date. Its total return in three years is 583.6%. The $6.5 billion space technology company is riding on a strong momentum following a record-breaking year.
The provider of advanced satellite systems and autonomous robotics ended 2025 with a massive backlog of $4 billion. Total revenues for the year rose 51% year-over-year to a record $1.6 billion. Notably, adjusted net income climbed 71% to $190 million compared to 2024.
Mike Greenley, CEO of MDA Space, said it was another banner year of profitable growth. In addition to the $40 billion pipeline of future opportunities, MDA Space’s dual-use, production-ready products and services are also driving new opportunities. Another strong tailwind is the growing demand for defence and space technology, services and capabilities.
Tax-free growth
Growth-focused TFSA investors can consider taking positions in Shopify, Discovery Silver, or MDA Space. The stocks offer a diversified path to tax-free growth and potentially, enormous capital gains inside a TFSA.
The post The Best Places to Put Your TFSA Contribution if You’re Focused on Growth appeared first on The Motley Fool Canada.
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Fool contributor Christopher Liew has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Shopify. The Motley Fool recommends MDA Space. The Motley Fool has a disclosure policy.
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