# Government Portfolio Advisors LLC

> Government Portfolio Advisors LLC is an SEC-registered investment advisory firm in Portland, OR, registered since 2014, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated August 17, 2026.

- CRD: 170384
- Filed as: GOVERNMENT PORTFOLIO ADVISORS LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Portland, OR
- Filing period: October 2026
- Form ADV filing dated: August 17, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/170384
- AdvisorCensus page: https://advisorcensus.com/firm/government-portfolio-advisors-llc-portland-or-170384

## Quick answers

**How is Government Portfolio Advisors LLC compensated?**
On its Form ADV (Item 5.E, October 2026), Government Portfolio Advisors LLC reports these compensation arrangements: a percentage of assets under its management; hourly charges; fixed fees (other than subscription fees). The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Government Portfolio Advisors LLC located?**
Government Portfolio Advisors LLC's principal office is in Portland, OR, according to its Form ADV.

**Is Government Portfolio Advisors LLC registered with the SEC or a state?**
Government Portfolio Advisors LLC is an SEC-registered investment advisory firm, registered since 2014. Status as filed: Approved. CRD 170384.

**How much does Government Portfolio Advisors LLC manage?**
Government Portfolio Advisors LLC reports $35,085,851,431 in regulatory assets under management in its Form ADV filing dated August 17, 2026 (4% discretionary).

**How have Government Portfolio Advisors LLC's assets and staff changed since 2021?**
In the Form ADV data for Government Portfolio Advisors LLC: Regulatory assets under management: $11,600,152,380 in the October 2021 data and $35,085,851,431 in the October 2026 data, up 202%. Total employees: 9 in October 2021 and 11 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Government Portfolio Advisors LLC serve?**
By number of clients on Form ADV Item 5.D: state or municipal government entities (including government pension plans) (73).

**Which custodians does Government Portfolio Advisors LLC use?**
Government Portfolio Advisors LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Principal Securities, Inc., U.S. Bank and Zions Bank as custodians holding 10% or more of its separately managed account assets.

**Does Government Portfolio Advisors LLC report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/170384

**What changed in Government Portfolio Advisors LLC's recent Form ADV filings?**
In the September 2026 filing data: Registered or notice-filed in CO, OH, SD, WI.

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Hourly charges
- Fixed fees (other than subscription fees)

### Custodians (Schedule D, Section 5.K(3))
- Principal Securities, Inc.
- U.S. Bank
- Zions Bank

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $35,085,851,431
- Discretionary: $1,313,104,238
- Non-discretionary: $33,772,747,193

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| High net worth individuals | Fewer than 5 | $20,137,003 |
| State or municipal government entities (including government pension plans) | 73 | $35,065,714,428 |

### Advisory services (Item 5.G)
- Portfolio management for individuals and/or small businesses
- Portfolio management for businesses (other than small businesses) or institutional clients

### Firm details
- Registered since: 2014 (12 years)
- Employees: 11 total, 6 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: CA, CO, MO, NM, NV, OH, OR, SD, TX, UT, WA, WI
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- [gpafixedincome.com](https://gpafixedincome.com)

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $11,600,152,380 | 9 | March 1, 2021 |
| October 2022 | $12,683,409,759 | 10 | June 6, 2022 |
| October 2023 | $16,725,387,863 | 8 | February 25, 2023 |
| October 2024 | $20,480,074,292 | 7 | March 8, 2024 |
| October 2025 | $25,897,235,362 | 9 | June 26, 2025 |
| October 2026 | $35,085,851,431 | 11 | August 17, 2026 |

Regulatory assets under management: $11,600,152,380 in the October 2021 data and $35,085,851,431 in the October 2026 data, up 202%.
Total employees: 9 in October 2021 and 11 in October 2026.

## Changes in the filing (last 12 months)

### September 2026
- Registered or notice-filed in CO, OH, SD, WI.

### April 2026
- Regulatory assets under management went from $25,897,235,362 to $35,085,851,431 (+35%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Government Portfolio Advisors LLC (CRD 170384): Form ADV filing data as of October 2026.