diff --git a/src/api/entities/Identity/Portfolios.ts b/src/api/entities/Identity/Portfolios.ts
index 05a2bf54b1..b428037af7 100644
--- a/src/api/entities/Identity/Portfolios.ts
+++ b/src/api/entities/Identity/Portfolios.ts
@@ -1,18 +1,19 @@
 import BigNumber from 'bignumber.js';
+import { PortfolioId } from 'polymesh-types/types';
 
 import { DefaultPortfolio, Identity, Namespace, NumberedPortfolio } from '~/api/entities';
 import { createPortfolio, deletePortfolio } from '~/api/procedures';
 import { PolymeshError, TransactionQueue } from '~/base';
 import { PortfolioNumber } from '~/polkadot';
 import { ErrorCode } from '~/types';
-import { numberToU64, stringToIdentityId, u64ToBigNumber } from '~/utils';
+import { identityIdToString, numberToU64, stringToIdentityId, u64ToBigNumber } from '~/utils';
 
 /**
  * Handles all Portfolio related functionality on the Identity side
  */
 export class Portfolios extends Namespace<Identity> {
   /**
-   * Retrieve all the Portfolios for the Identity
+   * Retrieve all the Portfolios owned by this Identity
    */
   public async getPortfolios(): Promise<[DefaultPortfolio, ...NumberedPortfolio[]]> {
     const {
@@ -40,6 +41,38 @@ export class Portfolios extends Namespace<Identity> {
     return portfolios;
   }
 
+  /**
+   * Retrieve all Portfolios custodied by this Identity
+   */
+  public async getCustodiedPortfolios(): Promise<(DefaultPortfolio | NumberedPortfolio)[]> {
+    const {
+      context,
+      context: {
+        polymeshApi: {
+          query: { portfolio },
+        },
+      },
+      parent: { did: custodianDid },
+    } = this;
+
+    const custodian = stringToIdentityId(custodianDid, context);
+    const portfolioEntries = await portfolio.portfoliosInCustody.entries(custodian);
+
+    return portfolioEntries.map(([{ args }]) => {
+      const { did: ownerDid, kind } = args[1] as PortfolioId;
+
+      const did = identityIdToString(ownerDid);
+
+      if (kind.isDefault) {
+        return new DefaultPortfolio({ did }, context);
+      }
+
+      const id = u64ToBigNumber(kind.asUser);
+
+      return new NumberedPortfolio({ did, id }, context);
+    });
+  }
+
   /**
    * Retrieve whether this Identity possesses a Portfolio with a certain ID
    */
diff --git a/src/api/entities/Identity/__tests__/Portfolios.ts b/src/api/entities/Identity/__tests__/Portfolios.ts
index 2ba34d6090..411eed0ef0 100644
--- a/src/api/entities/Identity/__tests__/Portfolios.ts
+++ b/src/api/entities/Identity/__tests__/Portfolios.ts
@@ -56,10 +56,44 @@ describe('Portfolios class', () => {
   describe('method: getPortfolios', () => {
     test('should retrieve all the portfolios for the identity', async () => {
       dsMockUtils.createQueryStub('portfolio', 'portfolios', {
+        entries: [tuple([rawIdentityId, rawNumberedPortfolioId], dsMockUtils.createMockBytes())],
+      });
+
+      stringToIdentityIdStub.withArgs(did, mockContext).returns(rawIdentityId);
+      u64ToBigNumberStub.returns(numberedPortfolioId);
+
+      const result = await portfolios.getPortfolios();
+      expect(result).toHaveLength(2);
+      expect(result[0] instanceof DefaultPortfolio).toBe(true);
+      expect(result[1] instanceof NumberedPortfolio).toBe(true);
+      expect(result[0].owner.did).toEqual(did);
+      expect(result[1].id).toEqual(numberedPortfolioId);
+    });
+  });
+
+  describe('method: getCustodiedPortfolos', () => {
+    test('should retrieve all the Portfolios custodied by the Identity', async () => {
+      dsMockUtils.createQueryStub('portfolio', 'portfoliosInCustody', {
         entries: [
           tuple(
-            [dsMockUtils.createMockIdentityId(did), rawNumberedPortfolioId],
-            dsMockUtils.createMockBytes()
+            [
+              rawIdentityId,
+              dsMockUtils.createMockPortfolioId({
+                did: rawIdentityId,
+                kind: dsMockUtils.createMockPortfolioKind('Default'),
+              }),
+            ],
+            dsMockUtils.createMockBool(true)
+          ),
+          tuple(
+            [
+              rawIdentityId,
+              dsMockUtils.createMockPortfolioId({
+                did: rawIdentityId,
+                kind: dsMockUtils.createMockPortfolioKind({ User: rawNumberedPortfolioId }),
+              }),
+            ],
+            dsMockUtils.createMockBool(true)
           ),
         ],
       });
@@ -67,12 +101,12 @@ describe('Portfolios class', () => {
       stringToIdentityIdStub.withArgs(did, mockContext).returns(rawIdentityId);
       u64ToBigNumberStub.returns(numberedPortfolioId);
 
-      const result = await portfolios.getPortfolios();
+      const result = await portfolios.getCustodiedPortfolios();
       expect(result).toHaveLength(2);
       expect(result[0] instanceof DefaultPortfolio).toBe(true);
       expect(result[1] instanceof NumberedPortfolio).toBe(true);
       expect(result[0].owner.did).toEqual(did);
-      expect(result[1].id).toEqual(numberedPortfolioId);
+      expect((result[1] as NumberedPortfolio).id).toEqual(numberedPortfolioId);
     });
   });