Firm profile

Portfolio Advisors LLC

DARIEN, CTCRD 105981Registration Status: ApprovedEffective since April 25, 1994SEC # 801-46369Latest ADV March 27, 2026

Portfolio Advisors LLC is an SEC registered investment adviser organized as a limited liability company with a primary office location in Darien, CT. Its latest Form ADV filing, dated March 27, 2026, reports $47.8B in regulatory assets under management, 164 employees, 5 offices, and 123 accounts.

Assets Under Management
$47.8B
Employees
164
Offices
5 offices
Total Clients
114

Associated firm names

2 names listed
  • ASIA SELECT MANAGEMENT LIMITED (RELYING ADVISOR)
  • PORTFOLIO ADVISORS LLC

Leadership

3 roles identified
CEOMichael C. Forman
CCOJames R. Peterson
CFOJoseph D. Mcgeehin

Advisory services offered

4 types reported
Portfolio management for businesses
Portfolio management for investment companies
Portfolio management for pooled investment vehicles

Fee models offered

4 types reported
Asset based fees
Fixed fees
Hourly charges

Offices & Contact

Primary office

DARIEN, Connecticut, United States

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Primary office regionOther reported regions

Shading shows states and countries with reported offices. Cities are listed below; shading does not indicate service coverage.

Connecticut

DARIENPrimary office

Hong Kong

HONG KONG

Japan

TOKYO

Korea, South

JONGNO-GU, SEOUL

Singapore

SINGAPORE

Switzerland

ZURICH

Texas

DALLAS

United Arab Emirates

DUBAI

United Kingdom

LONDON

9 office records listed · 5 total offices reported. Counts can use different reporting dates. SEC filers may list only their largest 25 additional offices.

Contact and digital presence

ADV profile links

Regulatory Assets Under Management Breakdown

Total regulatory assets under management$47.8Bas of March 27, 2026
Discretionary61.7%
$29.5B
62% of total RAUM61.7%
Non-discretionary38.3%
$18.3B
38% of total RAUM38.3%
Regulatory assets under management are split between discretionary and non-discretionary assets.

Client Coverage Demographics

Top client segmentPooled Investment Vehicles represent 99.1% of total clients.
Top client categories% of clientsClients
1
Pooled Investment Vehicles
99.1%
113
2
Investment Cos.
0.9%
1
Categories with <5 clients
Charitable Organizations<5 clients
Insurance companies<5 clients
Other categories<5 clients

Assets under management Growth by Quarter

Quarterly points use the latest ADV filing or SEC roster snapshot available in each quarter.

Total AUM$47.8B
Total Accounts123
10Y AUM Change+$10.7B (+29.0%)

Private Funds

Private funds reported by Portfolio Advisors LLC

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Employee Growth by Quarter

Quarterly points use the latest ADV filing or SEC roster snapshot available in each quarter.

Total Employees164
Clients per Employee1:1
10Y Employee Change+73 (+80.2%)

Historical AUM and employee figures reflect available SEC Form ADV filings under this CRD. Filing gaps may reflect registration status changes, dormant periods, state registration periods, firm restructuring, or other reporting changes. Rialytix does not interpolate missing periods.


Ownership

Reported direct and indirect ownership ranges

Each range applies to a separate reported relationship and should not be added together.

Reported ownership ranges

Highlighted bands show the percentage range reported in Form ADV.

0%25%50%75%100%
FRANKLIN SQUARE HOLDINGS, L.P.Direct owner · Schedule AInterest in PORTFOLIO ADVISORS LLC
75%+
MICHAEL CRAIG FORMANIndirect owner · Schedule BInterest in FB CAPITAL PARTNERS, L.P.
75%+
MICHAEL CRAIG FORMANIndirect owner · Schedule BInterest in FB CAPITAL MANAGEMENT, LLC
75%+
MICHAEL CRAIG FORMANIndirect owner · Schedule BInterest in FRANKLIN SQUARE HOLDINGS GP, LLC
50% to < 75%
DAVID JASON ADELMANIndirect owner · Schedule BInterest in FRANKLIN SQUARE HOLDINGS GP, LLC
50% to < 75%
FSH NCI AGGREGATOR, LLCIndirect owner · Schedule BInterest in FRANKLIN SQUARE HOLDINGS, L.P.
25% to < 50%
THE 2011 FORMAN INVESTMENT TRUSTIndirect owner · Schedule BInterest in FSH NCI AGGREGATOR, LLC
25% to < 50%
FB CAPITAL PARTNERS, L.P.Indirect owner · Schedule BInterest in FSH NCI AGGREGATOR, LLC
25% to < 50%

Bars represent the reported range at that individual ownership step, not an estimated percentage of the advisory firm. Indirect relationships may refer to intermediate entities rather than directly to Portfolio Advisors LLC.

Reported ownership and control details

Form ADV · Filing date 2026-03-27 · Schedules A and B

16 entries
#Owner / person & roleInterest in entityReported interestControl personTitle / status acquiredSource
1FRANKLIN SQUARE HOLDINGS, L.P.MEMBERDomestic entityPORTFOLIO ADVISORS LLC75% or moreCode EYesMEMBER06/2023Schedule APDF page 536
2JAMES ROBERT PETERSONCHIEF COMPLIANCE OFFICERIndividualPORTFOLIO ADVISORS LLCLess than 5%Code NAYesCHIEF COMPLIANCE OFFICER11/2025Schedule APDF page 536
3JOSEPH DAVID MCGEEHINCHIEF FINANCIAL OFFICERIndividualPORTFOLIO ADVISORS LLCLess than 5%Code NAYesCHIEF FINANCIAL OFFICER07/2025Schedule APDF page 536
4MICHAEL CRAIG FORMANCHIEF EXECUTIVE OFFICERIndividualPORTFOLIO ADVISORS LLCLess than 5%Code NAYesCHIEF EXECUTIVE OFFICER06/2023Schedule APDF page 536
5MARC ROBERT BRYANTCHIEF LEGAL OFFICERIndividualPORTFOLIO ADVISORS LLCLess than 5%Code NAYesCHIEF LEGAL OFFICER06/2023Schedule APDF page 536
6FRANKLIN SQUARE HOLDINGS GP, LLCGENERAL PARTNERDomestic entityFRANKLIN SQUARE HOLDINGS, L.P.Percentage not specifiedCode FYesGENERAL PARTNER05/2007Schedule BPDF page 536
7FSH NCI AGGREGATOR, LLCLIMITED PARTNERDomestic entityFRANKLIN SQUARE HOLDINGS, L.P.25% to less than 50%Code CYesLIMITED PARTNER06/2023Schedule BPDF page 536
8MICHAEL CRAIG FORMANMANAGING MEMBERIndividualFRANKLIN SQUARE HOLDINGS GP, LLC50% to less than 75%Code DYesMANAGING MEMBER05/2007Schedule BPDF page 536
9DAVID JASON ADELMANMEMBERIndividualFRANKLIN SQUARE HOLDINGS GP, LLC50% to less than 75%Code DYesMEMBER05/2007Schedule BPDF page 536
10THE 2011 FORMAN INVESTMENT TRUSTMEMBERDomestic entityFSH NCI AGGREGATOR, LLC25% to less than 50%Code CYesMEMBER06/2023Schedule BPDF page 536
11MICHAEL JAY HELLERTRUSTEEIndividualTHE 2011 FORMAN INVESTMENT TRUSTPercentage not specifiedCode FNoTRUSTEE01/2012Schedule BPDF page 536
12FB CAPITAL PARTNERS, L.P.MEMBERDomestic entityFSH NCI AGGREGATOR, LLC25% to less than 50%Code CYesMEMBER06/2023Schedule BPDF page 536
13MICHAEL CRAIG FORMANLIMITED PARTNERIndividualFB CAPITAL PARTNERS, L.P.75% or moreCode EYesLIMITED PARTNER08/2005Schedule BPDF page 536
14FB CAPITAL MANAGEMENT, LLCGENERAL PARTNERDomestic entityFB CAPITAL PARTNERS, L.P.Percentage not specifiedCode FYesGENERAL PARTNER01/2013Schedule BPDF page 536
15MICHAEL CRAIG FORMANSOLE MEMBERIndividualFB CAPITAL MANAGEMENT, LLC75% or moreCode EYesSOLE MEMBER02/2007Schedule BPDF page 537
16THOMAS ROBERT TRALATRUSTEEIndividualTHE 2011 FORMAN INVESTMENT TRUSTPercentage not specifiedCode FYesTRUSTEE01/2020Schedule BPDF page 537

Less than 5% may include zero. Code F identifies a role without specifying a percentage. Reported interests may overlap and may not include every owner. Total indirect ownership is not calculated.

Compliance & Disclosures

Filing dated 3/27/2026 4:26:58 PM

Responses were selected by the RIA in its filing. Questions are shortened for readability; “you” refers to the reporting firm, and some questions also cover advisory affiliates.

RIA or supervised-person involvementThe RIA reported that none of the events below involve the firm or its supervised persons.RIA responseNo
AFelonies2 No

In the past ten years, have you or any advisory affiliate:

  • A1Been convicted of or pleaded guilty or no contest to a felony?No
  • A2Been charged with a felony?No
BMisdemeanors2 No

In the past ten years, have you or any advisory affiliate:

  • B1Been convicted of or pleaded guilty or no contest to a misdemeanor involving investments, an investment-related business, fraud, false statements or omissions, wrongful taking of property, bribery, perjury, forgery, counterfeiting, or extortion?No
  • B2Been charged with a misdemeanor of the kind listed above?No
CSEC or CFTC actions5 No

Has the SEC or CFTC ever:

  • C1Found you or an advisory affiliate made a false statement or omission?No
  • C2Found you or an advisory affiliate violated SEC or CFTC regulations or statutes?No
  • C3Found you or an advisory affiliate caused an investment-related business to have its authorization to do business denied, suspended, revoked, or restricted?No
  • C4Entered an order against you or an advisory affiliate in connection with investment-related activity?No
  • C5Imposed a civil money penalty on you or an advisory affiliate, or ordered you or an advisory affiliate to cease and desist from any activity?No
DOther regulatory actions5 No

Has any other federal regulatory agency, state regulatory agency, or foreign financial regulatory authority ever:

  • D1Found you or an advisory affiliate made a false statement or omission, or was dishonest, unfair, or unethical?No
  • D2Found you or an advisory affiliate violated investment-related regulations or statutes?No
  • D3Found you or an advisory affiliate caused an investment-related business to have its authorization to do business denied, suspended, revoked, or restricted?No
  • D4In the past ten years, entered an order against you or an advisory affiliate in connection with investment-related activity?No
  • D5Denied, suspended, or revoked your or an advisory affiliate’s registration or license, or otherwise prevented association with an investment-related business or restricted activities?No
ESelf-regulatory organization actions4 No

Has a self-regulatory organization or commodities exchange ever:

  • E1Found you or an advisory affiliate made a false statement or omission?No
  • E2Found you or an advisory affiliate violated its rules, other than a violation designated as a minor rule violation under an SEC-approved plan?No
  • E3Found you or an advisory affiliate caused an investment-related business to have its authorization to do business denied, suspended, revoked, or restricted?No
  • E4Disciplined you or an advisory affiliate by expulsion, suspension, barring association with other members, or otherwise restricting activities?No
FProfessional authorizations1 No
  • FHas an authorization to act as an attorney, accountant, or federal contractor granted to you or an advisory affiliate ever been revoked or suspended?No
GPending regulatory proceedings1 No
  • GAre you or any advisory affiliate now the subject of a regulatory proceeding that could result in a “Yes” answer to any part of C, D, or E?No
HCivil judicial actions and proceedings4 No

(1) Court actions

Has a domestic or foreign court:

  • H(1)(a)In the past ten years, enjoined you or an advisory affiliate in connection with investment-related activity?No
  • H(1)(b)Found that you or an advisory affiliate violated investment-related statutes or regulations?No
  • H(1)(c)Dismissed, pursuant to a settlement agreement, an investment-related civil action brought against you or an advisory affiliate by a state or foreign financial regulatory authority?No

(2) Pending civil proceedings

  • H(2)Are you or any advisory affiliate now the subject of a civil proceeding that could result in a “Yes” answer to any part of H(1)?No

* Metrics are based on the latest available data, including Form ADV filings, brochures, and relationship summaries pulled from the SEC IAPD, and may be subject to change. Learn what is included in the Rialytix data. Please refer to the firm's official disclosures for the most accurate information using their CRD number. This is not investment advice.