Deschutes Portfolio Strategy, Llc
- Regulatory AUM
- $1.6B
- Discretionary
- $848M
- Clients
- 358
- Avg AUM / client
- $4.5M
- Accounts
- 769
- Employees
- 11
AUM over time
Annual snapshots from Form ADV filings · as of Jul 24, 2026
Investments (13F portfolio — 164 positions, $234,445,276)
13F period Mar 31, 2026| # | Issuer | Class | Value | Shares | % of 13F | % of AUM |
|---|---|---|---|---|---|---|
| 1 | Apple Inc | COM | $9,142,233 | 36,023 | 3.9% | 0.56% |
| 2 | Ishares Tr | CORE DIV GRWTH | $7,832,593 | 111,607 | 3.34% | 0.48% |
| 3 | Pimco Calif Mun Income Fd | COM | $7,433,824 | 866,413 | 3.17% | 0.46% |
| 4 | Ascendis Pharma A/S | SPONSORED ADR | $5,964,592 | 26,077 | 2.54% | 0.37% |
| 5 | Xai Octagn Flt Rat & Alt Inm | COM SHS BENF INT | $5,911,569 | 344,096 | 2.52% | 0.36% |
| 6 | Fs Credit Opportunities Corp | COMMON STOCK | $5,783,400 | 1,134,000 | 2.47% | 0.36% |
| 7 | Fs Specialty Lending Fd | COM SH BEN INT | $5,657,022 | 452,200 | 2.41% | 0.35% |
| 8 | Taiwan Fd Inc | COM | $5,522,160 | 84,000 | 2.36% | 0.34% |
| 9 | Microsoft Corp | COM | $5,314,940 | 14,358 | 2.27% | 0.33% |
| 10 | Mexico Fd Inc | COM | $4,290,650 | 205,000 | 1.83% | 0.26% |
| 11 | Pimco New York Mun Fd Ii | COM | $4,238,273 | 618,726 | 1.81% | 0.26% |
| 12 | Nexpoint Diversified Rel Et | COM NEW | $4,220,933 | 903,840 | 1.8% | 0.26% |
| 13 | Lam Research Corp | COM NEW | $4,087,316 | 19,130 | 1.74% | 0.25% |
| 14 | Bluerock Pvt Real Estate Fd | COM | $4,086,060 | 246,000 | 1.74% | 0.25% |
| 15 | Blackrock Tech And Private E | SHS BEN INT | $3,913,800 | 593,000 | 1.67% | 0.24% |
| 16 | Royce Global Trust Inc | COM | $3,888,342 | 291,000 | 1.66% | 0.24% |
| 17 | Alphabet Inc | CAP STK CL A | $3,731,137 | 12,975 | 1.59% | 0.23% |
| 18 | Korea Fd Inc | COM NEW | $3,693,699 | 82,265 | 1.58% | 0.23% |
| 19 | Srh Total Return Fund Inc | COM | $3,693,600 | 216,000 | 1.58% | 0.23% |
| 20 | Templeton Dragon Fd Inc | COM | $3,628,620 | 342,000 | 1.55% | 0.22% |
| 21 | Highland Global Allocation F | COM | $3,557,290 | 443,000 | 1.52% | 0.22% |
| 22 | Highland Opps & Income Fd | HIGHLAND INCOME | $3,523,070 | 617,000 | 1.5% | 0.22% |
| 23 | Destra Multi Alternative Fd | COMMON SHARES | $3,341,320 | 412,000 | 1.43% | 0.21% |
| 24 | Central Secs Corp | COM | $3,227,900 | 65,000 | 1.38% | 0.2% |
| 25 | Morgan Stanley China A Sh Fd | COM | $3,116,751 | 178,100 | 1.33% | 0.19% |
Top 25 of 164 positions from the manager's latest Form 13F · source filing (EDGAR) ↗. 13F covers long US-listed positions only. "% of AUM" is share of the firm's total regulatory AUM (Form ADV Item 5.F).
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Individuals (non-high net worth) | 191 | $67.3M | 4.14% |
| High net worth individuals | 116 | $350M | 21.5% |
| Investment companies | 2 | $120M | 7.4% |
| Pooled investment vehicles (non-investment companies) | 2 | $37.6M | 2.31% |
| Pension and profit sharing plans | 37 | $827M | 50.9% |
| Charitable organizations | 10 | $165M | 10.1% |
| State or municipal government entities | Fewer than 5 clients | $58.9M | 3.62% |
Private funds (1)
Reported in Form ADV Section 7.B.(1), filing of Aug 2024 · $603K combined gross assets
| Fund | Type | Domicile | Gross assets | Owners |
|---|---|---|---|---|
| Matisse Absolute Return Fund Llc | Hedge Fund | Delaware | $603K | 31 |
Retirement plan clients
Plans that reported this firm as an investment service provider on Form 5500 Schedule C.
| Plan | Location | Plan year |
|---|---|---|
| The Townshend Group 401(k) Plan The Townshend Group, Llc | 2024 | |
| Alpha Media Llc 401(k) Retirement Plan Alpha Media, Llc | 2024 | |
| Mcmenamins Pubs & Breweries 401(k) Plan Mcmenamins, Inc. | 2024 | |
| Children's Clinic, P.C. 401(k) Profit Sharing Plan Children's Clinic, P.C., D/B/A The Childrens Clinic Pc | 2024 | |
| Woodburn Nursery & Azaleas, Inc. Retirement Plan And Trust Woodburn Nursery & Azaleas, Inc. | 2024 | |
| Cogdall Construction Co Inc 401(k) Profit Sharing Plan And Trust Cogdall Construction Company Inc. | 2024 |
People (10)
roster as of Jul 20, 2026| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Bryn Torkelson | President & Chief Investment Officer | Sep 2010 (16y) | ≈ 56.25% – 100% via The Bryn H Torkelson And Janice A Torkelson Revocable Living Trust | |
| Niklas Heyser Torkelson | Managing Partner And Chief Compliance Officer | Sep 2015 (11y) | 10% – 25% | |
| Eric Andrew Boughton | Registered representative | CFA | Nov 2010 (16y) | |
| Rebecca Yin Wei | Registered representative | CFA | Apr 2014 (12y) | |
| Deirdre Skye Hochberg Higdon | Registered representative | Jan 2015 (12y) | ||
| Axel Herbert Flichtbeil | Registered representative | Apr 2015 (11y) | ||
| Corrie Bergeron Oliva | Registered representative | CFA | Apr 2019 (7y) | |
| Joseph B Torkelson | Registered representative | Oct 2024 (2y) | ||
| Daniel Creston Sholian | Registered representative | Jan 2025 (2y) | ||
| Raymond Buddy Torkelson | Registered representative | Apr 2025 (1y) |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| The Bryn H Torkelson And Janice A Torkelson Revocable Living Trust | Owner | Oct 2021 | A | 75% or more |
Undisclosed: 0% – 15% of the firm is not attributable from the filed Schedule A bands.
Estimated effective ownership (look-through of filed bands):
- Bryn Torkelson: 75% – 100% of The Bryn H Torkelson And Janice A Torkelson Revocable Living Trust × 75% – 100% direct ≈ 56.25% – 100% of the firm
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Private funds (1, $603K gross assets)
| Fund | Type | Gross assets | Min. investment | Owners |
|---|---|---|---|---|
| Matisse Absolute Return Fund Llc | Hedge Fund | $603K | $1.0M | 31 |
From Form ADV Section 7.B private fund reporting.
Retirement plans served (6)
| Plan | Sponsor | Participants | Plan assets | As of |
|---|---|---|---|---|
| The Townshend Group 401(k) Plan | The Townshend Group, Llc | 91 | $6.4M | 01/01/2024 |
| Alpha Media Llc 401(k) Retirement Plan | Alpha Media, Llc | 794 | $34.1M | 01/01/2024 |
| Mcmenamins Pubs & Breweries 401(k) Plan | Mcmenamins, Inc. | 1,868 | $40.6M | 01/01/2024 |
| Children's Clinic, P.C. 401(k) Profit Sharing Plan | Children's Clinic, P.C., D/B/A The Childrens Clinic Pc | 105 | $41.6M | 01/01/2024 |
| Woodburn Nursery & Azaleas, Inc. Retirement Plan And Trust | Woodburn Nursery & Azaleas, Inc. | 134 | $18.8M | 01/01/2024 |
| Cogdall Construction Co Inc 401(k) Profit Sharing Plan And Trust | Cogdall Construction Company Inc. | 212 | $10.4M | 01/01/2024 |
From Form 5500 service-provider disclosures.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 03/20/2026 | 1.23 MB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
No disciplinary events reported on the firm's latest Form ADV filing.
How they charge
- • Percentage of assets under management
- • Hourly charges
- • Fixed fees
Services
- • Financial planning services
- • Portfolio management for individuals/small businesses
- • Portfolio management for investment companies
- • Portfolio management for pooled investment vehicles
- • Portfolio management for businesses/institutional clients
- • Pension consulting services
- • Selection of other advisers
- • Educational seminars/workshops
Custody
Reported custodians
- Charles Schwab & Co. $1.0B (62% of AUM) Mar 2026
- Vanguard Fiduciary Trust Company $321M (20% of AUM) Mar 2026
Amounts as reported in ADV Item 5.K.(3) (custodians holding 10%+ of SMA assets).
Firm reports having custody of client funds or securities (Item 9.A).
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Jul 24, 2026.
View current Form ADV (SEC/IAPD) ↗