NAICS Code 523110: Investment Banking and Securities Dealing
National industry
SBA small business size standard: $41.5 million in average annual receipts
Definition
This industry comprises establishments primarily engaged in underwriting, originating, and/or maintaining markets for issues of securities. Investment bankers act as principals (i.e., investors who buy or sell on their own account) in firm commitment transactions or act as agents in best effort and standby commitments. This industry also includes establishments acting as principals in buying or selling securities generally on a spread basis, such as securities dealers or stock option dealers.
Government contracts for this service: PSC R710 Support – Management: Financial
Code facts
- Part of
-
-
52
-
523
-
5231
- 52311
-
5231
-
523
-
52
- Contract awards
- 4 In the last 12 months
NAICS codes and definitions come from the U.S. Census Bureau, size standards from the SBA and contract spending from SAM.gov/FPDS.
Business activities under NAICS 523110
- Banking, investment
- Bond dealing (i.e., acting as a principal in dealing securities to investors)
- Commercial paper dealing (i.e., acting as a principal in dealing securities to investors)
- Investment banking
- Making markets for securities
- Market making for securities
- Paper, dealing of commercial (i.e., acting as principal in dealing securities to investors)
- Securities dealers (i.e., acting as a principal in dealing securities to investors)
- Securities dealing (i.e., acting as a principal in dealing securities to investors)
- Securities distributing (i.e., acting as a principal in dealing securities to investors)
- Securities floor traders (i.e., acting as a principal in dealing securities to investors)
- Securities flotation companies
- Securities originating (i.e., acting as a principal in dealing securities to investors)
- Securities trading (i.e., acting as a principal in dealing securities to investors)
- Securities underwriting
- Stock options dealing (i.e., acting as a principal in dealing securities to investors)
- Trading securities (i.e., acting as a principal in dealing securities to investors)
- Underwriting securities
Looking for another activity? Search the NAICS code lookup or browse business activities from A to Z.
Contract obligations by fiscal year
| Fiscal year | Obligated |
|---|---|
| FY2027 To date | $0 |
| FY2026 | $12,131,673 |
| FY2025 | -$1,941,755,818 |
| FY2024 | $19,501,200 |
| FY2023 | -$117,061,237 |
Top contractors by obligations
| Rank | Contractor | Obligated, FY2026–FY2027 | Share |
|---|---|---|---|
| 1 | Nisa Investment Advisors LLC | $6,894,705 | |
| 2 | MFS Institutional Advisors Inc. | $2,339,290 | |
| 3 | Wellington Management Company LLP | $1,514,090 | |
| 4 | Elocen Group, LLC (The) | $1,345,456 | |
| 5 | Madison Associates Inc. | $617,640 | |
| 6 | General Motors Investment Management Corp | $150,000 |
Top funding agencies by obligations
| Rank | Agency | Obligated, FY2026–FY2027 | Share |
|---|---|---|---|
| 1 | Pension Benefit Guaranty Corporation | $10,168,577 | |
| 2 | Department of Transportation | $983,870 | |
| 3 | Department of Agriculture | $361,586 | |
| 4 | Department of Justice | $358,365 | |
| 5 | Department of Homeland Security | $259,275 |
Top PSC codes by obligations
| Rank | PSC code | Obligated, FY2026–FY2027 | Share |
|---|---|---|---|
| 1 | R710 Support – Management: Financial | $10,168,577 | |
| 2 |
R408 Program Management/ |
$1,183,870 | |
| 3 | R499 Other Professional Services | $417,640 | |
| 4 | S216 Facilities Operations Support Services | $361,586 |
Contract obligations by state
| Rank | Place of performance | Obligated, last 12 months | Share |
|---|---|---|---|
| 1 | Missouri | $6,894,705 | |
| 2 | Massachusetts | $1,353,380 | |
| 3 | Maryland | $983,870 | |
| 4 | District of Columbia | $620,861 | |
| 5 | Virginia | $358,618 |
Shares are of everything obligated under NAICS 523110 in the last 12 months before deobligations, including work performed abroad or with no place of performance on record.
Contract opportunities
Show 31 more
Latest 41 of 42 listed here. See the rest on GovTribe.
Size standard history
Federal Register rules that named this code
From the NAICS codes each rule's amendments to 13 CFR 121.201 name. Rules that print their size standard tables as images aren't listed.
Quick answers
What is NAICS 523110?
NAICS 523110 is Investment Banking and Securities Dealing, a national industry in NAICS 52, Finance and Insurance.
What is the NAICS code for investment banking?
The NAICS code for investment banking is 523110, Investment Banking and Securities Dealing.
What is the NAICS code for securities underwriting?
The NAICS code for securities underwriting is 523110, Investment Banking and Securities Dealing.
What is the NAICS code for underwriting securities?
The NAICS code for underwriting securities is 523110, Investment Banking and Securities Dealing.
When did the size standard for NAICS 523110 last change?
The most recent Federal Register rule on record that names NAICS 523110 in the SBA's size standards is "Small Business Size Standards: Adjustment of Monetary-Based Size Standards for Inflation" (84 FR 34261), published Jul 18, 2019 and effective Aug 19, 2019.
Who are the largest contractors under NAICS 523110?
The contractors with the most obligated under NAICS 523110 in fiscal years 2026 and 2027 are Nisa Investment Advisors LLC ($6,894,705), MFS Institutional Advisors Inc. ($2,339,290) and Wellington Management Company LLP ($1,514,090).
Which agencies buy the most under NAICS 523110?
The agencies that obligated the most under NAICS 523110 in fiscal years 2026 and 2027 are Pension Benefit Guaranty Corporation ($10,168,577), Department of Transportation ($983,870) and Department of Agriculture ($361,586).
Which PSC codes are used with NAICS 523110?
The PSC codes with the most obligated under NAICS 523110 in fiscal years 2026 and 2027 are R710 Support – Management: Financial, R408 Program Management/
Where is the work under NAICS 523110 performed?
By place of performance, the states with the most contract obligations under NAICS 523110 over the last 12 months are Missouri ($6,894,705), Massachusetts ($1,353,380) and Maryland ($983,870).
What is the latest contract opportunity under NAICS 523110?
The latest contract opportunity under NAICS 523110 is Sole Source Justification, limited / sole source justification from Pension Benefit Guaranty Corporation, posted September 30, 2022.
On GovTribe
See everything under NAICS 523110
- Federal contract opportunities, awards and IDVs under this code
- Funding analysis by contractor, agency and set-aside
- Contacts who buy under this code
- Ask GovTribe AI about this code