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.


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.

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

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.

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