Combine the butter, blue cheese and cream cheese in the bowl of a stand mixer. Mix on low speed for about 20 seconds to lightly blend ingredients together.

Add one half of the toasted walnuts and mix for about 10 seconds to incorporate.

Pour the port wine into a small saucepan set over medium heat. Bring to a simmer and reduce until syrupy and the bubbles on the surface start to shine; about 2 minutes.

Using a spatula, scrape the hot syrup into the mixing bowl and mix on low speed for 5 seconds.

Line one larger mold or two small ones with plastic wrap with enough hanging over the edge to close over the top of the cheese once it's in the mold. Fold the cheese into the container(s) and press gently with a spatula to even it. Cover with the overlapping wrap and refrigerate overnight.

Unmold the next day onto a serving plate. Press the remaining toasted walnuts into the top of the cheese.

Serve with toasted baguette slices or Melba Toast.