We study human behavior, ahead of change.

Pence Capital Management integrates academic, behavioral and military-grade intelligence to identify transformative investment ideas and develop investment strategies and model portfolios. We believe that big, knowable themes emerge from a simple truth: human behavior drives consumption, which directly impacts the supply chain, and in turn, global economies.

At PENCE, knowing the markets means anticipating and capitalizing on human factors that can shift the balance of competition across sectors and industries. We look at the root of macroeconomic forces—people, their needs and their patterns of consumption—with specialized observational skill.

Strategies

Our investment strategies seek to capitalize on thematic, long-term investment trends built on a close study of human behavior. We recognize the effects patterns of consumption have on the market and their potential to add alpha—a competitive advantage that doesn’t fit neatly into a style box.

Ubiquitous Strategy

Ubiquitous Strategy Finds investment opportunity in stocks of “ubiquitous” companies—those whose services have become part of our daily lives and whose position at the choke point in the supply chain gives them pricing power.

Recovery Strategy

Recovery Strategy Developed in response to market volatility. The strategy invests in companies that have been especially impacted by COVID-19 but which we believe are well-positioned to recover over the next two years.

Content Leaders Strategy

Content Leaders Strategy Seeks above-average capital appreciation by investing in stocks of U.S. companies that are dominant in the media content arena, including television producers, filmmakers, content libraries, broadcast channels and delivery platforms.

Transformers Strategy

Transformers Strategy Seeks above-average total return by investing in stocks of global companies that benefit from shifts in consumer behavior and technological innovation.

Digital World Leaders Strategy

Digital World Leaders Strategy Finds mega-platform providers that have the resources to evolve, transform, and acquire as technology advances and consumer demand shifts.

Building America Strategy

Building America Strategy Invests in stocks of companies that can benefit from “Building America” through infrastructure projects including civil construction and engineering, and the sale of construction materials.

Human Behavior Strategy

Human Behavior Strategy Focuses on companies that derive the majority of their revenue through sales to U.S. consumers, fulfilling the different levels of human need in a variety of income categories.

INDUSTRY RECOGNITION

PENCE strategies

PENCE Ubiquitous Portfolio distributed by AAM

PENCE Building America Strategy Portfolio distributed by AAM

PENCE Recovery Strategy Portfolio distributed by AAM

Domestic Equities – 3 Year Composite Performance (07/31/2020 – 07/31/2023)

PENCE Digital World Leaders Strategy Portfolio distributed by First Trust

Global Equities – 3 Year Composite Performance (07/31/2020 – 07/31/2023)

Source: NASDAQ FUND NETWORK

PENCE Strategies are managed by Pence Capital Management, a registered investment advisor.

View April 2023 UIT Scorecard

In the Media

Providing resources and covering current events, market outlook, policies and its effect in the economy.

Energy Sector Update: OPEC & The Global Market and U.S. Oil Production

Schwab Network

The Fed May Only Do One or Two Rate Cuts Next Year

CNBC Power Lunch

Chokepoints Mean Pricing Power, Pricing Power Means Excess Earnings

Smart Money Circle Podcast

Earnings, Equities, and The State of IPO’s

Schwab Network

Raytheon: Order Backlog of 2.5 times their estimated 2024 sales

Schwab Network

Apple Services Revenue Equal to that of Johnson and Johnson

Schwab Network

More Human Factor Insights

How to invest

Pence Capital Management develops investment strategies for distributors and model portfolios for advisors. To invest in Pence Capital Management Strategies, please contact your broker or advisor.