NAICS Code 523920: Portfolio Management
National industry
SBA small business size standard: $41.5 million in average annual receipts
Definition
This industry comprises establishments primarily engaged in managing the portfolio assets (i.e., funds) of others on a fee or commission basis. Establishments in this industry have the authority to make investment decisions, and they derive fees based on the size and/or overall performance of the portfolio.
Government contracts for this service: PSC R710 Support – Management: Financial
Code facts
- Part of
-
-
52
-
523
-
5239
- 52392
-
5239
-
523
-
52
- Contract obligations
- $70,876,888 In FY2025
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 523920
- Investment management
- Managing investment funds
- Managing mutual funds
- Managing personal investment trusts
- Managing trusts
- Mutual fund managing
- Pension fund managing
- Personal investments trusts, managing
- Portfolio fund managing
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 | $35,565,651 |
| FY2025 | $70,876,888 |
| FY2024 | $44,824,263 |
| FY2023 | $80,588,437 |
Top contractors by obligations
| Rank | Contractor | Obligated, FY2026–FY2027 | Share |
|---|---|---|---|
| 1 | Arrowstreet Capital LP | $12,299,565 | |
| 2 | Pacific Investment Management Company LLC | $8,024,703 | |
| 3 | Pgim, Inc. | $5,987,759 | |
| 4 | Wellington Management Company LLP | $5,106,893 | |
| 5 | TCW Asset Management Company LLC | $4,400,000 | |
| 6 | Marathon Asset Management LIMITED | $4,217,714 | |
| 7 | Allspring Global Investments, LLC | $4,133,091 | |
| 8 | Goldman Sachs Asset Management, L.P | $2,674,524 | |
| 9 | Neuberger Berman Investment Advisers LLC | $2,118,075 | |
| 10 | Principal Real Estate Investors LLC | $805,610 |
Top funding agencies by obligations
| Rank | Agency | Obligated, FY2026–FY2027 | Share |
|---|---|---|---|
| 1 | Pension Benefit Guaranty Corporation | $35,565,651 |
Top PSC codes by obligations
| Rank | PSC code | Obligated, FY2026–FY2027 | Share |
|---|---|---|---|
| 1 | R710 Support – Management: Financial | $35,565,651 |
Contract obligations by state
| Rank | Place of performance | Obligated, last 12 months | Share |
|---|---|---|---|
| 1 | Massachusetts | $17,406,459 | |
| 2 | California | $8,087,217 | |
| 3 | New Jersey | $1,387,759 | |
| 4 | Iowa | $805,610 | |
| 5 | Illinois | $680,983 |
Shares are of everything obligated under NAICS 523920 in the last 12 months before deobligations, including work performed abroad or with no place of performance on record.
Contract opportunities
Show 38 more
Latest 48 of 54 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 523920?
NAICS 523920 is Portfolio Management, a national industry in NAICS 52, Finance and Insurance.
What is the NAICS code for managing trusts?
The NAICS code for managing trusts is 523920, Portfolio Management.
What is the NAICS code for mutual fund managing?
The NAICS code for mutual fund managing is 523920, Portfolio Management.
What is the NAICS code for investment management?
The NAICS code for investment management is 523920, Portfolio Management.
When did the size standard for NAICS 523920 last change?
The most recent Federal Register rule on record that names NAICS 523920 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.
How much do federal agencies spend under NAICS 523920?
Federal contracts under NAICS 523920 obligated $70,876,888 in fiscal year 2025 and $231,855,238 in fiscal years 2023 through 2027.
Who are the largest contractors under NAICS 523920?
The contractors with the most obligated under NAICS 523920 in fiscal years 2026 and 2027 are Arrowstreet Capital LP ($12,299,565); Pacific Investment Management Company LLC ($8,024,703); and Pgim, Inc. ($5,987,759).
Which agencies buy the most under NAICS 523920?
The agencies that obligated the most under NAICS 523920 in fiscal years 2026 and 2027 are Pension Benefit Guaranty Corporation ($35,565,651).
Which PSC codes are used with NAICS 523920?
The PSC codes with the most obligated under NAICS 523920 in fiscal years 2026 and 2027 are R710 Support – Management: Financial.
Where is the work under NAICS 523920 performed?
By place of performance, the states with the most contract obligations under NAICS 523920 over the last 12 months are Massachusetts ($17,406,459), California ($8,087,217) and New Jersey ($1,387,759).
What is the latest contract opportunity under NAICS 523920?
The latest contract opportunity under NAICS 523920 is Pension Benefit Guaranty Corporation (PBGC) – Smaller Asset Manager Program (SAMP) Virtual Industry Day, special notice from Pension Benefit Guaranty Corporation, posted October 25, 2022.
On GovTribe
See everything under NAICS 523920
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