NAICS 523940: Portfolio Management and Investment Advice
National industry
SBA small business size standard: $47 million in average annual receipts
Code facts
- Part of
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52
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523
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5239
- 52394
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5239
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523
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52
- Contract awards
- 18 In the last 12 months
- Contract obligations
- $6,958,628 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.
Contract obligations by fiscal year
| Fiscal year | Obligated |
|---|---|
| FY2027 To date | -$2,549,141 |
| FY2026 | $36,857,079 |
| FY2025 | $6,958,628 |
| FY2024 | $8,035,654 |
| FY2023 | $1,350,000 |
Top contractors by obligations
| Rank | Contractor | Obligated, FY2026–FY2027 | Share |
|---|---|---|---|
| 1 | Pacific Investment Management Company LLC | $5,500,000 | |
| 2 | Pgim, Inc. | $4,600,000 | |
| 3 | Wellington Management Company LLP | $3,200,000 | |
| 4 | LOS Angeles Capital Management LLC | $3,000,000 | |
| 5 | AQR Capital Management LLC | $3,000,000 | |
| 6 | Allspring Global Investments, LLC | $2,550,000 | |
| 7 | Goldman Sachs Asset Management, L.P | $2,400,000 | |
| 8 | Schroder Investment Management North America Inc. | $2,213,650 | |
| 9 | Kpmg LLP | $1,495,705 | |
| 10 | Ninety One North America, Inc. | $1,214,286 |
Top funding agencies by obligations
| Rank | Agency | Obligated, FY2026–FY2027 | Share |
|---|---|---|---|
| 1 | Pension Benefit Guaranty Corporation | $31,481,444 | |
| 2 | International Development Finance Corporation | $1,595,505 | |
| 3 | Department of Housing and Urban Development | $1,111,237 | |
| 4 | Securities and Exchange Commission | $79,751 | |
| 5 | Department of the Treasury | $40,000 |
Top PSC codes by obligations
| Rank | PSC code | Obligated, FY2026–FY2027 | Share |
|---|---|---|---|
| 1 | R710 Support – Management: Financial | $32,692,481 | |
| 2 | R799 Other Management Support Services | $1,495,705 | |
| 3 | R424 Expert Witness | $79,751 | |
| 4 | 7630 Newspapers and Periodicals | $40,000 |
Contract obligations by state
| Rank | Place of performance | Obligated, last 12 months | Share |
|---|---|---|---|
| 1 | District of Columbia | $22,550,788 | |
| 2 | New York | $3,746,141 | |
| 3 | California | $3,000,000 | |
| 4 | Connecticut | $3,000,000 | |
| 5 | Washington | $1,088,474 | |
| 6 | Ohio | $602,958 | |
| 7 | Wisconsin | $233,217 | |
| 8 | Arizona | $79,751 | |
| 9 | Florida | $40,000 |
Shares are of everything obligated under NAICS 523940 in the last 12 months before deobligations, including work performed abroad or with no place of performance on record.
Contract opportunities
Show all 28
Definition
This industry comprises establishments primarily engaged in managing the portfolio assets (i.e., funds) of others on a fee or commission basis and/or providing customized investment advice to clients on a fee basis. Establishments providing portfolio management have the authority to make investment decisions, and they derive fees based on the size and/or overall performance of the portfolio. Establishments providing investment advice provide financial planning advice and investment counseling to meet the goals and needs of specific clients, but do not have the authority to execute trades.
Quick answers
What is NAICS 523940?
NAICS 523940 is Portfolio Management and Investment Advice, a national industry in NAICS 52, Finance and Insurance.
How much do federal agencies spend under NAICS 523940?
Federal contracts under NAICS 523940 obligated $6,958,628 in fiscal year 2025 and $50,652,220 in fiscal years 2023 through 2027.
Who are the largest contractors under NAICS 523940?
The contractors with the most obligated under NAICS 523940 in fiscal years 2026 and 2027 are Pacific Investment Management Company LLC ($5,500,000); Pgim, Inc. ($4,600,000); and Wellington Management Company LLP ($3,200,000).
Which agencies buy the most under NAICS 523940?
The agencies that obligated the most under NAICS 523940 in fiscal years 2026 and 2027 are Pension Benefit Guaranty Corporation ($31,481,444), International Development Finance Corporation ($1,595,505) and Department of Housing and Urban Development ($1,111,237).
Which PSC codes are used with NAICS 523940?
The PSC codes with the most obligated under NAICS 523940 in fiscal years 2026 and 2027 are R710 Support – Management: Financial, R799 Other Management Support Services and R424 Expert Witness.
Where is the work under NAICS 523940 performed?
By place of performance, the states with the most contract obligations under NAICS 523940 over the last 12 months are the District of Columbia ($22,550,788), New York ($3,746,141) and California ($3,000,000).
What is the latest contract opportunity under NAICS 523940?
The latest contract opportunity under NAICS 523940 is Justification for other than full and open competition, limited / sole source justification from Pension Benefit Guaranty Corporation, posted October 1, 2026.
On GovTribe
See everything under NAICS 523940
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