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
$33.2M
Total awards
46 awards
Active obligations
$27.1M
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.

FY2025 snapshot

Obligations
$2.7M
Awards
2
Average award
$1.4M
Change from FY2024
-85.5%

Recent awards

Search contractors

$79,751

THE COLERIDGE GROUP, LLC

Securities and Exchange Commission

PIID
50310226C0012
PSC
R424 - SUPPORT- PROFESSIONAL: EXPERT WITNESS

$142,589

KPMG LLP

United States International Development Finance Corporation

PIID
77344426F0045
PSC
R799 - SUPPORT- MANAGEMENT: OTHER

$350,000

THE BOSTON CONSULTING GROUP INC

United States International Development Finance Corporation

PIID
77344426F0040
PSC
R799 - SUPPORT- MANAGEMENT: OTHER

$3,000,000

AQR CAPITAL MANAGEMENT LLC

Pension Benefit Guaranty Corporation

PIID
16PBGC26C0006
PSC
R710 - SUPPORT- MANAGEMENT: FINANCIAL

$886,427

KPMG LLP

United States International Development Finance Corporation

PIID
77344426F0034
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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