Federal NAICS Codes

NAICS 523940: Portfolio Management and Investment Advice

Explore obligations, trends, recent awards, and incumbent contractors for NAICS 523940.

NAICS 523940 federal market metrics

Total obligations
$51M
Total awards
54 awards
Active obligations
$36M
Size standard
$47,000,000 receipts

What this NAICS covers

NAICS 523940 covers ongoing portfolio management and investment advisory services that make asset allocation, manager selection, trade execution, and performance reporting decisions on behalf of client investment portfolios.

Federal opportunities under 523940 typically involve discretionary asset management for government investment accounts, producing investment policy documents, performance attribution and compliance reports, and executing trades consistent with fiduciary or mandate constraints.

FY2026 snapshot

Obligations
$37.2M
Awards
77
Average award
$483.2K
Change from FY2025
+434.7%

Recent awards

Search contractors

$4,600,000

PGIM, INC.

Pension Benefit Guaranty Corporation

PIID
16PBGC26P0011
PSC
R710 - SUPPORT- MANAGEMENT: FINANCIAL

$0

WALLS & ASSOCIATES, LLC

Treasury Common Services Center

PIID
2099CJ26P00005
PSC
7630 - NEWSPAPERS AND PERIODICALS

$99,800

PACIFIC RISK ADVISORS LTD

United States International Development Finance Corporation

PIID
77344426F0126
PSC
R710 - SUPPORT- MANAGEMENT: FINANCIAL

$466,689

KPMG LLP

United States International Development Finance Corporation

PIID
77344426F0122
PSC
R799 - SUPPORT- MANAGEMENT: OTHER

FAQ

What work fits NAICS 523940?
  • Discretionary management of fixed income, equity, or balanced portfolios under a mandate with monthly performance attribution and benchmark reporting.
  • Selection and oversight of subadvisors or external managers including manager searches, contract oversight, and quarterly manager performance evaluations.
  • Providing trading and execution services for client portfolios, including order routing, best execution documentation, and transaction cost analysis.
  • Drafting and updating investment policy statements, asset allocation models, and compliance monitoring procedures tied to portfolio mandates.
When is NAICS 523940 a weak fit?
  • Securities brokerage and transaction execution only lacks ongoing portfolio advice, discretionary decision authority, and performance reporting obligations required in portfolio management.
  • Custody and safekeeping services lack investment advice, asset allocation decisions, and active management of holdings.
  • Investment banking or underwriting lacks ongoing portfolio management, post-issuance advisory, and discretionary portfolio oversight.
What solicitation language points to NAICS 523940?
  • Solicitation requires discretionary trading authority or an assets-under-management fee structure and specifies benchmarks or performance targets tied to portfolio returns.
  • Deliverables list recurring performance attribution, compliance reports, investment policy statements, and trade blotter delivery on a set schedule.
  • Proposal instructions request registered investment adviser credentials, evidence of fiduciary duty practices, or professional staff resumes with portfolio management experience.

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