Industries › NAICS 523150
Industry · NAICS 523150 · sector 52 Finance and insurance
Investment Banking and Securities Intermediation
Federal contract obligations classified under NAICS 523150, the organisations that win them and the agencies that award them.
USAspending caveat. Figures are obligations reported by federal agencies to USAspending.gov, not payments. In USAspending's words: "An outlay occurs when federal money is actually paid out, not just promised to be paid ('obligated')." "Every agency has a Senior Accountable Official who must officially certify that the quarterly financial data submitted by their agency is accurate and complete." "If there are any discrepancies in procurement data, FPDS is the authoritative source." Contract data for the Department of Defense and the U.S. Army Corps of Engineers is published with a 90-day delay. Data loaded 30 Sep 2026.
Federal agencies obligated $257M in contracts classified under NAICS 523150, Investment Banking and Securities Intermediation, in FY2026, and $1.2B over the five fiscal years since FY2023; the industry ranks 176 of 526 on this site.
Obligations were up 196% on FY2025 ($87M), with $0 so far in FY2027.
The largest recipient organisations over FY2022–FY2025 were Carrington Mortgage Services LLC ($837M), Selene Finance LP ($68M) and Charles Schwab & Co., Inc ($110K).
By place of performance, the most money went to CA.
Contract obligations by fiscal year
Compared with the largest industry FY2026
| Measure | This industry | Aircraft Manufacturing | All contracts |
|---|---|---|---|
| Contract obligations, FY2026 | $257M | $45B | $716B |
| Five-year total | $1.2B | $211B | $3.0T |
| Share of all contract obligations, five years | 0% | 7.1% | 100% |
Top contractors obligations, FY2022–FY2025
| # | Organisation | Obligations |
|---|---|---|
| 1 | Carrington Mortgage Services LLC | $837M |
| 2 | Selene Finance LP | $68M |
| 3 | Charles Schwab & Co., Inc | $110K |
| 4 | Cumberland Septic Services Inc | $50K |
Buying agencies $1.0M+ awards
Where the work is performed
Largest awards since FY2023
| Recipient | Awarding agency | Type | Award value | Begun | Place | Record |
|---|---|---|---|---|---|---|
| Carrington Mortgage Services LLC | Department of Housing and Urban Development | ContractDefinitive Contract | $1.1B | 9 Aug 2023 | CA | USAspending |
| Selene Finance LP | Department of Housing and Urban Development | ContractDefinitive Contract | $90M | 10 Aug 2023 | TX | USAspending |
Other industries in sector 52: Finance and insurance
- 524114 Direct Health and Medical Insurance Carriers $177B
- 522390 Other Activities Related to Credit Intermediation $5.1B
- 524292 Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds $3.2B
- 522110 Commercial Banking $772M
- 522320 Financial Transactions Processing, Reserve, and Clearinghouse Activities $481M
- 524298 All Other Insurance Related Activities $238M
- 523920 Portfolio Management $231M
- 524210 Insurance Agencies and Brokerages $202M
- 523940 Portfolio Management and Investment Advice $54M
- 523910 Miscellaneous Intermediation $50M
- 525120 Health and Welfare Funds $41M
Questions and answers
How much does the federal government spend on NAICS 523150?
$257M in contract obligations classified under Investment Banking and Securities Intermediation in FY2026, $1.2B over the five fiscal years since FY2023. Obligations are commitments, not payments.
Who are the top contractors in Investment Banking and Securities Intermediation?
Carrington Mortgage Services LLC ($837M), Selene Finance LP ($68M), Charles Schwab & Co., Inc ($110K), Cumberland Septic Services Inc ($50K), by contract obligations over FY2022–FY2025.
Which agencies buy in this industry?
By the value of $1.0M-plus contracts since FY2023: Department of Housing and Urban Development ($1.2B).
What is a NAICS code?
In USAspending's words: "NAICS stands for the North American Industrial Classification System. This 6-digit code tells you what industry the work falls into. Each contract record has a NAICS code." Assistance awards (grants, loans, direct payments) carry no NAICS code and are not counted here.
Provenance
Source: USAspending.gov API v2, spending by category (NAICS) by fiscal year, recipient cross-tabulation for FY2022–FY2025 and award search, loaded 30 Sep 2026. State figures come from each state's top-100 NAICS list, so small amounts in a state may be missing. See methodology.