{ "crd_number": 281739, "slug": "pence-capital-management-llc-newport-beach-ca-281739", "primary_business_name": "PENCE CAPITAL MANAGEMENT, LLC", "legal_name": "PENCE CAPITAL MANAGEMENT, LLC", "dbas": [], "city": "Newport Beach", "state": "CA", "country": "United States", "cbsa_code": "31080", "metro": { "cbsa_code": "31080", "common_name": "Los Angeles", "msa_name": "Los Angeles-Long Beach-Anaheim, CA", "path": "/advisors/ca/los-angeles" }, "registration_type": "sec", "registration_status": "Approved", "registration_date": "2023-08-10", "years_registered": 3, "period": "2026-10-01", "filing_date": "2026-03-30", "carried_forward": false, "raum_total": 1536678991.0, "raum_discretionary": 0.0, "raum_non_discretionary": 1536678991.0, "raum_band": "1b_5b", "raum_band_label": "$1 billion to $5 billion", "total_employees": 14, "advisory_employees": 8, "client_count_bucket": null, "clients_by_type": { "other": { "raum": 1358317674.0, "count": 6, "description": "UNIT INVESTMENT TRUST" }, "investment_companies": { "raum": 67460000.0, "count": 2 }, "other_investment_advisers": { "raum": 110901317.0, "count": 1 } }, "compensation_types": [ "hourly", "other", "percentage_of_aum" ], "advisory_activities": [ "portfolio_management_businesses_institutional", "selection_of_other_advisers" ], "wrap_fee_participant": false, "disclosure_yes_count": 0, "states_registered": [ "AR", "CA" ], "websites": [ "https://facebook.com/profile.php?id=100069864190381", "https://linkedin.com/company/pencecapital", "https://linkedin.com/in/dryden-pence", "https://pencecapital.com", "https://x.com/penecapital" ], "iapd_url": "https://adviserinfo.sec.gov/firm/summary/281739", "city_as_filed": "NEWPORT BEACH", "url": "https://advisorcensus.com/firm/pence-capital-management-llc-newport-beach-ca-281739", "display_name": "Pence Capital Management, LLC", "summary": "Pence Capital Management, LLC is an SEC-registered investment advisory firm in Newport Beach, CA, registered since 2023, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated March 30, 2026.", "citation": "AdvisorCensus. Pence Capital Management, LLC (CRD 281739): Form ADV filing data as of October 2026.", "registration_type_label": "SEC-registered investment adviser", "compensation_labels": [ "A percentage of assets under your management", "Hourly charges", "Other" ], "advisory_activity_labels": [ "Portfolio management for businesses (other than small businesses) or institutional clients", "Selection of other advisers (including private fund managers)" ], "quick_answers": [ { "q": "How is Pence Capital Management, LLC compensated?", "a": "On its Form ADV (Item 5.E, October 2026), Pence Capital Management, LLC reports these compensation arrangements: a percentage of assets under its management; hourly charges; other. The amounts are in Item 5 of its Form ADV Part 2A brochure." }, { "q": "Where is Pence Capital Management, LLC located?", "a": "Pence Capital Management, LLC's principal office is in Newport Beach, CA, according to its Form ADV." }, { "q": "Is Pence Capital Management, LLC registered with the SEC or a state?", "a": "Pence Capital Management, LLC is an SEC-registered investment advisory firm, registered since 2023. Status as filed: Approved. CRD 281739." }, { "q": "How much does Pence Capital Management, LLC manage?", "a": "Pence Capital Management, LLC reports $1,536,678,991 in regulatory assets under management in its Form ADV filing dated March 30, 2026 (0% discretionary)." }, { "q": "How have Pence Capital Management, LLC's assets and staff changed since 2023?", "a": "In the Form ADV data for Pence Capital Management, LLC: Regulatory assets under management: $1,031,035,699 in the October 2023 data and $1,536,678,991 in the October 2026 data, up 49%. Total employees: 9 in October 2023 and 14 in October 2026. Assets under management move with markets as well as with clients coming and going." }, { "q": "What types of clients does Pence Capital Management, LLC serve?", "a": "By number of clients on Form ADV Item 5.D: other (6); investment companies (2); other investment advisers (1)." }, { "q": "Which custodians does Pence Capital Management, LLC use?", "a": "Pence Capital Management, LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Advisors Asset Management, Inc. as a custodian holding 10% or more of its separately managed account assets." }, { "q": "Does Pence Capital Management, LLC report any disciplinary disclosures?", "a": "Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/281739" }, { "q": "What changed in Pence Capital Management, LLC's recent Form ADV filings?", "a": "In the April 2026 filing data: Employees performing advisory functions went from 12 to 8. Regulatory assets under management went from $1,719,621,315 to $1,536,678,991 (-11%)." } ], "filing_history": [ { "period": "2023-10-01", "regulatory_assets_under_management": 1031035699.0, "total_employees": 9, "filing_date": "2023-07-12" }, { "period": "2024-10-01", "regulatory_assets_under_management": 1082682405.0, "total_employees": 15, "filing_date": "2024-06-13" }, { "period": "2025-10-01", "regulatory_assets_under_management": 1362823783.0, "total_employees": 17, "filing_date": "2025-03-27" }, { "period": "2026-10-01", "regulatory_assets_under_management": 1536678991.0, "total_employees": 14, "filing_date": "2026-03-30" } ], "recent_changes": [ { "period": "2026-04-01", "period_label": "April 2026", "notes": [ "Employees performing advisory functions went from 12 to 8.", "Regulatory assets under management went from $1,719,621,315 to $1,536,678,991 (-11%)." ] }, { "period": "2026-02-01", "period_label": "February 2026", "notes": [ "Regulatory assets under management went from $1,362,823,783 to $1,719,621,315 (+26%)." ] } ], "fees_from_brochure": null, "custodians": [ { "name": "Advisors Asset Management, Inc.", "name_as_filed": "ADVISORS ASSET MANAGEMENT, INC.", "affiliated": false } ], "custodians_note": "Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.", "markdown_url": "https://advisorcensus.com/firm/pence-capital-management-llc-newport-beach-ca-281739.md", "clients": [ { "type": "investment_companies", "label": "Investment companies", "count": 2, "fewer_than_5": false, "raum": 67460000.0 }, { "type": "other_investment_advisers", "label": "Other investment advisers", "count": 1, "fewer_than_5": false, "raum": 110901317.0 }, { "type": "other", "label": "Other", "count": 6, "fewer_than_5": false, "raum": 1358317674.0 } ], "disclosure_line": "Reports no disclosure items on Form ADV Item 11.", "disclosure_items": [], "indexable": true, "suppressed": false, "claimed": false, "enhanced": false, "provided_by_the_firm": null, "source": { "name": "Form ADV", "as_of": "2026-10-01", "iapd_url": "https://adviserinfo.sec.gov/firm/summary/281739", "operator": "BH Monitor Services, LLC", "license": "https://creativecommons.org/licenses/by/4.0/", "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data" } }