Government Investment Banking and Securities Intermediation Contracts
NAICS 523150 · Investment Banking and Securities Intermediation
Government investment banking and securities intermediation contracts totaled $1.1B from FY2024 to FY2026, across 3 contract awards. In FY2026, obligations were $257M, up 196% from FY2025. The Department of Housing and Urban Development was the largest buyer ($1.1B).
Key figures
In FY2026, contract obligations were $257,107,742 across 3 awards with activity that year, a change of +196% from $86,847,354 in FY2025. From FY2024 to FY2026, obligations totaled $1,133,874,914 across 3 awards.
- Obligated in FY2026
- $257M
- Awards in FY2026
- 3
- Change vs FY2025
- +196%
- Total, FY2024 to FY2026
- $1.1B
Note: FY2026 ended on Sep 30, 2026. The Department of Defense publishes contract data with a 90-day delay, so FY2026 totals may still rise as late reports arrive.
Investment Banking and Securities Intermediation contract spending by year
Federal investment banking and securities intermediation contracts per fiscal year (October to September), under NAICS 523150. The table below lists the same numbers.
| Fiscal year | Obligated | Awards | Change |
|---|---|---|---|
| FY2026 | $257,107,742 | 3 | +196% |
| FY2025 | $86,847,354 | 3 | -89% |
| FY2024 | $789,919,818 | 3 | n/a |
About government investment banking and securities intermediation contracts
Federal spending on investment banking and securities intermediation contracts fell 67% from FY2024 ($790M) to FY2026 ($257M). FY2026 closed recently, and Defense Department contracts are reported up to 90 days late, so its total may still rise.
Spending is highly concentrated: the top 3 contractors account for 100% of the total. A few large firms win most of this work, so subcontracting can be the easiest way in.
The Department of Housing and Urban Development spends the most on investment banking and securities intermediation contracts (100%), followed by the Department of the Treasury. The states with the most of this work are California and Texas.
NAICS 523150 (Investment Banking and Securities Intermediation) is part of the Finance and Insurance sector.
Top investment banking and securities intermediation government contractors
Companies ranked by contract dollars under NAICS 523150 (Investment Banking and Securities Intermediation).
| # | Contractor | Obligated | Share |
|---|---|---|---|
| 1 | Carrington Mortgage Services LLC | $1,046,890,552 | 92.3% |
| 2 | Selene Finance LP | $86,955,359 | 7.7% |
| 3 | Charles Schwab & Co., Inc | $29,004 | <0.1% |
Agencies buying investment banking and securities intermediation services
Federal agencies ranked by contract dollars under NAICS 523150.
| # | Agency | Obligated | Share |
|---|---|---|---|
| 1 | Department of Housing and Urban Development | $1,133,845,910 | 100.0% |
| 2 | Department of the Treasury | $29,004 | <0.1% |
Where investment banking and securities intermediation contract work is performed
States ranked by contract dollars, using the place of performance on each award.
| # | State | Obligated | Share |
|---|---|---|---|
| 1 | California | $1,046,919,555 | 92.3% |
| 2 | Texas | $86,955,359 | 7.7% |
Recent investment banking and securities intermediation contract awards
The latest investment banking and securities intermediation contracts, newest first. Each award ID links to its record on USAspending.gov.
| Start date | Recipient | Agency and description | Amount | Record |
|---|---|---|---|---|
| Nov 20, 2023 | Charles Schwab & Co., Inc | Department of the TreasuryHQ - 2022-NOV-08 - THIS REQUISITION IS FOR THE 401(K) CONTRACT RECOMPETE. THE CONTRACT ENDS 12/31/2023. THIS WILL BE A 2-YEAR BASE PERIOD WITH 4, 2-YEAR OPTION PERIODS. JUSTIFICATION OF THE SERVICE | $29,004 | 2031JW24C00003 |
| Aug 10, 2023 | Selene Finance LP | Department of Housing and Urban DevelopmentSINGLE FAMILY MASTER SUBSERVICER SERVICES IN SUPPORT OF GINNIE MAE'S MORTGAGE-BACKED SECURITIES (MBS) PROGRAMS. | $89,755,359 | 86615623C00015 |
| Aug 9, 2023 | Carrington Mortgage Services LLC | Department of Housing and Urban DevelopmentSINGLE FAMILY MASTER SUBSERVICER SERVICES IN SUPPORT OF GINNIE MAE'S MORTGAGE-BACKED SECURITIES (MBS) PROGRAMS. | $1,073,007,598 | 86615623C00016 |
Open investment banking and securities intermediation government bids
No open investment banking and securities intermediation bids right now. Check the open bids page, which is updated daily from SAM.gov.
How to win government investment banking and securities intermediation contracts
Federal investment banking and securities intermediation contracts are posted on SAM.gov under NAICS 523150. Register your business free on SAM.gov with this code, watch for investment banking and securities intermediation bids, and look for small business set-asides: many investment banking and securities intermediation contracts for small business are reserved for small firms.
Explore government investment banking and securities intermediation contracts by state, agency and contractor
Frequently asked questions
- What NAICS code is used for government investment banking and securities intermediation contracts?
- Federal investment banking and securities intermediation contracts use NAICS 523150 (Investment Banking and Securities Intermediation). List this code in your free SAM.gov registration to be found for these contracts.
- Who are the largest investment banking and securities intermediation government contractors?
- By contract dollars under NAICS 523150 from FY2024 to FY2026, the largest were Carrington Mortgage Services LLC ($1B), Selene Finance LP ($87M) and Charles Schwab & Co., Inc ($29K).
- Which agencies buy the most investment banking and securities intermediation?
- From FY2024 to FY2026, the biggest buyers were the Department of Housing and Urban Development ($1.1B) and the Department of the Treasury ($29K).
- Where are government investment banking and securities intermediation contracts performed?
- By contract dollars, the most federal investment banking and securities intermediation work is performed in California ($1B) and Texas ($87M).
- Is federal spending on investment banking and securities intermediation contracts growing?
- Federal investment banking and securities intermediation contract obligations fell 67% from FY2024 ($790M) to FY2026 ($257M). FY2026 closed recently, and Defense Department contracts are reported up to 90 days late, so its total may still rise.
- Do I qualify as a small business for investment banking and securities intermediation contracts?
- It depends on the SBA size standard for NAICS 523150, which is set either by average annual revenue or by number of employees. Check the current table of size standards on sba.gov before you bid on small business set-asides.
- What do I need to bid on government investment banking and securities intermediation contracts?
- An active SAM.gov registration (free) with NAICS 523150 listed, the licenses and insurance your state requires for investment banking and securities intermediation work, and examples of similar past work. Some solicitations also ask for specific certifications or security clearances.