01 / NAICS Market Profile
NAICS 523940 Portfolio Management And Investment Advice Federal Contracts
North American Industry Classification System code 523940
Federal contract activity classified under Portfolio Management And Investment Advice across FY 2019–FY 2025. Net obligations include both new obligations and subsequent deobligations.
02 / Market Size
How large is the NAICS 523940 federal market?
03 / Spending Trend
NAICS 523940 contract spending by fiscal year
Annual obligations, activity, and participation across the same FY 2019–FY 2025 profile window.
Latest closed fiscal year$6.96M
FY 2025| Fiscal year | Obligations | Actions | Vendors | Customers | Change |
|---|---|---|---|---|---|
| FY 2019 | $0 | 0 | 0 | 0 | — |
| FY 2020 | $0 | 0 | 0 | 0 | — |
| FY 2021 | $0 | 0 | 0 | 0 | — |
| FY 2022 | $0 | 0 | 0 | 0 | — |
| FY 2023 | $1.35M | 4 | 4 | 1 | — |
| FY 2024 | $8.04M | 33 | 13 | 4 | +495.2% |
| FY 2025 | $6.96M | 12 | 8 | 2 | −13.4% |
04 / Top Federal Customers
Which federal agencies buy most in this industry?
Ranked by net obligations during FY 2019–FY 2025.
| Federal customer | Code | Obligations | Actions | Vendors | Market share |
|---|---|---|---|---|---|
| PENSION BENEFIT GUARANTY CORPORATION | 1665 | $13.95M | 38 | 8 | 85.4% |
| HOUSING AND URBAN DEVELOPMENT, DEPARTMENT OF | 8600 | $1.50M | 2 | 1 | 9.2% |
| UNITED STATES INTERNATIONAL DEVELOPMENT FINANCE CORPORATION | 7700 | $711.0K | 3 | 2 | 4.4% |
| DEPT OF THE AIR FORCE | 5700 | $150.0K | 1 | 1 | 0.9% |
| USDA, DEPARTMENTAL ADMINISTRATION | 1205 | $32.8K | 5 | 2 | 0.2% |
05 / Contracting Offices
Which contracting offices buy in NAICS 523940?
Ranked by net obligations during FY 2019–FY 2025.
| Office | Code | Agency | Obligations | Actions | Vendors | Market share |
|---|---|---|---|---|---|---|
| PENSION BENEFIT GUARANTY CORP | 16PBGC | PENSION BENEFIT GUARANTY CORPORATION | $13.95M | 38 | 8 | 85.4% |
| CPO : GNMA SUPPORT DIVISION | 866155 | HOUSING AND URBAN DEVELOPMENT, DEPARTMENT OF | $1.50M | 2 | 1 | 9.2% |
| OFFICE OF ACQUISITION | 773444 | UNITED STATES INTERNATIONAL DEVELOPMENT FINANCE CORPORATION | $711.0K | 3 | 2 | 4.4% |
| FA5613 700 CONS PK | FA5613 | DEPT OF THE AIR FORCE | $150.0K | 1 | 1 | 0.9% |
| USDA, OCP-POD-ACQ-MGMT-BRANCH-FTC | 123144 | USDA, DEPARTMENTAL ADMINISTRATION | $32.8K | 5 | 2 | 0.2% |
06 / Top Vendors
Which contractors lead the NAICS 523940 market?
| Vendor | Obligations | Actions | Customers | Market share | Latest activity |
|---|---|---|---|---|---|
| COLCHESTER GLOBAL INVESTORS LIMITED | $3.16M | 4 | 1 | 19.4% | Sep 30, 2025 |
| PUGH CAPITAL MANAGEMENT INC | $2.34M | 6 | 1 | 14.3% | Oct 29, 2024 |
| NEW CENTURY ADVISORS LLC | $2.13M | 5 | 1 | 13.0% | Oct 22, 2024 |
| LONGFELLOW INVESTMENT MANAGEMENT CO., LLC | $1.92M | 6 | 1 | 11.8% | Oct 22, 2024 |
| MERGANSER CAPITAL MANAGEMENT, LLC | $1.86M | 6 | 1 | 11.3% | Mar 27, 2025 |
| RECURSION CO | $1.50M | 2 | 1 | 9.2% | Apr 2, 2025 |
| RAMIREZ ASSET MANAGEMENT, INC. | $1.46M | 5 | 1 | 8.9% | Jul 22, 2025 |
| NATIONAL INVESTMENT SERVICES OF AMERICA, LLC | $950.0K | 4 | 1 | 5.8% | Oct 17, 2024 |
| KPMG LLP | $525.0K | 2 | 1 | 3.2% | Sep 12, 2024 |
| THE BOSTON CONSULTING GROUP INC | $186.0K | 1 | 1 | 1.1% | Jun 27, 2024 |
07 / Product and Service Mix
What products and services are purchased under NAICS 523940?
08 / Buying Pattern
How does the government buy in NAICS 523940?
| Common action type | Obligations | Actions |
|---|---|---|
| DEFINITIVE CONTRACT | $15.45M | 40 |
| PURCHASE ORDER | $182.8K | 6 |
| DELIVERY ORDER | $711.0K | 3 |
09 / Recent Contract Awards
What was awarded most recently in NAICS 523940?
10 / Market Interpretation
How should contractors evaluate this market?
Start with the spending direction
Compare annual obligations with actions and vendor participation. Growth driven by only a few large actions represents a different opportunity from broad, recurring demand.
Follow the actual buyers
Move from federal customers to contracting offices. Offices reveal where acquisition responsibility and recurring purchasing activity are concentrated.
Measure accessible demand
Use competition, small-business participation, incumbent vendors, and PSC mix before treating the full $16.34M market as addressable.