Dialectic Capital Management, LP

Diversified strategyHigh-turnover traderSector-focused

Total reported value

$155.4M

Reporting period: 2017-03-31 · Number of holdings: 98

DIALECTIC CAPITAL MANAGEMENT, LP disclosed 98 holdings in its latest 13F filing for the period ending 2017-03-31, with total reported value of $155.4M and a quarterly turnover rate of 125.0%.

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Personality snowflake

Concentration: 34.25
Portfolio Stability: 100
Momentum/Contrarian: 0
Sector conviction: 100
Diversification: 100
Sizing Uniformity: 80.79

Recent moves

Trim RILY
-21.7%　-$6.3M
Trim NRP
-80.2%　-$4.4M
Add WB
+80.0%　$2.7M
Add 42225K106
+39.7%　$1.6M
Trim VG1EUR
-40.6%　-$2.9M
Add 46187J205
+67.7%　$1.8M

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

Showing top 54 holdings (of 98 total)

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	✓		Stock-Other	25.55%	+25.55%	NEW
2	RILY	Brc Group Holdings INC	Stock-Other	7.06%	-2.64%	-21.69%
3	✓	Health Insurance Innovatio-a	Stock-Other	5.11%	+1.54%	+39.72%
4	IWM	Ishares Russell 2000 ETF	ETF-Small Cap	4.42%	+4.42%	NEW
5	XLI	Ss Industrial Select Sector	ETF-Other	4.19%	+4.19%	NEW
6	✓	Covisint Corp	Stock-Other	3.26%	—	-17.09%
7	WB	Weibo Corp-spon Adr	Stock-Other	3.02%	+1.88%	+80.00%
8	BWXT	Bwx Technologies INC	Stock-Industrials	2.89%	+1.21%	+25.20%
9	WDC	Western Digital CORP	Stock-Tech	2.68%	—	-32.30%
10	✓	Hc2 Holdings INC	Stock-Other	2.33%	—	-16.04%
11	VG1EUR	Vonage Holdings CORP	Stock-Other	2.28%	-1.36%	-40.60%
12	ITB	Ishares U.s. Home Constructi	ETF-Other	2.06%	+2.06%	NEW
13	LONEEUR	Lonestar Resources US I-cl A	Stock-Other	2.03%	-0.52%	+17.53%
14	✓	Invuity INC	Stock-Other	2.02%	+1.26%	+67.66%
15	VRSUSD	Verso CORP - A	Stock-Other	1.68%	—	+37.78%
16	SIG	Signet Jewelers Limited	Stock-Consumer Disc	1.56%	+1.56%	NEW
17	SUN	Sunoco LP	Stock-Other	1.52%	+1.52%	NEW
18	ISRG	Intuitive Surgical INC	Stock-Healthcare	1.48%	+1.48%	NEW
19	AORT	Artivion INC	Stock-Other	1.44%	+1.44%	NEW
20	IMMR	Immersion Corporation	Stock-Other	1.27%	—	+1.82%
21	MRVL	Marvell Technology, Inc.	Stock-Tech	1.22%	—	-18.90%
22	NWSA	News CORP - Class A	Stock-Comm Services	1.21%	—	+12.84%
23	MCK	Mckesson CORP	Stock-Healthcare	1.19%	+1.19%	NEW
24	KRG	Kite Realty Group Trust	Stock-Real Estate	1.16%	-0.98%	-72.94%
25	INTC	Intel CORP	Stock-Tech	1.15%	—	+68.27%
26	CJ1EUR	C&j Energy Services INC	Stock-Other	1.12%	+1.12%	NEW
27	MU	Micron Technology INC	Stock-Tech	1.00%	—	+11.61%
28	XLF	Ss Financial Select Sector	ETF-Other	0.92%	—	+20.00%
29	NLST	Netlist INC	Stock-Other	0.88%	—	+1.21%
30	QS	QuantumScape Corporation	Stock-Consumer Disc	0.87%	—	+55.82%
31	AMGN	Amgen INC	Stock-Healthcare	0.84%	+0.84%	NEW
32	KEGEUR	Key Energy Services INC	Stock-Other	0.83%	—	+182.98%
33	NRP	Natural Resource Partners LP	Stock-Other	0.81%	-2.38%	-80.17%
34	BIP	Brookfield Infrastructure Partners L.P.	Stock-Utilities	0.77%	+0.77%	NEW
35	✓	Wildhorse Resource Developme	Stock-Other	0.76%	+0.76%	NEW
36	NGVC	Natural Grocers By Vitamin C	Stock-Other	0.67%	+0.67%	NEW
37	✓		Stock-Other	0.63%	+0.63%	NEW
38	MSFT	Microsoft CORP	Stock-Tech	0.61%	+0.61%	NEW
39	TER	Teradyne INC	Stock-Tech	0.61%	+0.61%	NEW
40	SRTS	Sensus Healthcare INC	Stock-Other	0.61%	—	+0.15%
41	NOK	Nokia Corp-spon Adr	Stock-Tech	0.58%	—	—
42	WCC	Wesco International INC	Stock-Industrials	0.45%	—	—
43	PCAR	Paccar INC	Stock-Industrials	0.43%	—	—
44	TNAVEUR	Telenav INC	Stock-Other	0.40%	—	—
45	✓	Cno Finl Group INC	Stock-Other	0.40%	—	—
46	STMP	Stamps.com INC	Stock-Other	0.38%	—	+5.51%
47	TUR	Ishares Msci Turkey ETF	ETF-Other	0.35%	—	—
48	KEMUSD	Kemet CORP	Stock-Other	0.32%	—	—
49	TTWO	Take-two Interactive Softwre	Stock-Comm Services	0.31%	—	-15.43%
50	FORM	Formfactor INC	Stock-Tech	0.28%	—	-60.29%

1–50 of 54

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2017-03-31	98	$155.4M	100	173935A2RILY342225K Top holdings2017-03-31 1.73935A 2.RILY 3.42225K 4.IWM 5.XLI 6.22357R 7.WB 8.BWXT 9.WDC 10.404139
2016-12-31	130	$177.7M	100	1RILY 2WMT 3GLD Top holdings2016-12-31 1.RILY 2.WMT 3.GLD 4.TSLA 5.UPS 6.VG1EUR 7.42225K 8.NRP 9.22357R 10.UTXZ
2016-09-30	163	$160.8M	100	1GLD 2RILY 3VG1EUR Top holdings2016-09-30 1.GLD 2.RILY 3.VG1EUR 4.TSLA 5.SRPT 6.EQIX 7.22357R 8.ED 9.UPS 10.68557N
2016-06-30	186	$302.9M	100	1SPY 2XLI 3GLD Top holdings2016-06-30 1.SPY 2.XLI 3.GLD 4.NOC 5.SMH 6.RILY 7.KMX 8.MDY 9.VOO 10.23130A
2016-03-31	183	$213.7M	100	1SPY 2GLD 3RILY Top holdings2016-03-31 1.SPY 2.GLD 3.RILY 4.GDOT 5.TSLA 6.NOC 7.BA 8.911268 9.BIP 10.22357R
2015-12-31	250	$347.4M	100	1SPY 2GLD 3NFLX Top holdings2015-12-31 1.SPY 2.GLD 3.NFLX 4.RILY 5.CMI 6.AOS 7.AMZN 8.CAT 9.G47791 10.GILD
2015-09-30	273	$306.5M	100	1GLD 2NFLX 3RILY Top holdings2015-09-30 1.GLD 2.NFLX 3.RILY 4.SPY 5.G47791 6.AOS 7.AVGO 8.IMMR 9.LMT 10.CMI
2015-06-30	340	$334.3M	100	1EWG 2NFLX 3PCAR Top holdings2015-06-30 1.EWG 2.NFLX 3.PCAR 4.IWM 5.CMI 6.CMCSA 7.GIS 8.IMMR 9.SPY 10.REYN
2015-03-31	418	$575.1M	100	1SPY 2GM 3NFLX Top holdings2015-03-31 1.SPY 2.GM 3.NFLX 4.GLD 5.TSLA 6.IMMR 7.CCK 8.EMR 9.XLE 10.716933
2014-12-31	387	$530.0M	100	1SPY 2GLD 3HYG Top holdings2014-12-31 1.SPY 2.GLD 3.HYG 4.GOF 5.IMMR 6.EMR 7.XLE 8.KHC 9.EMB 10.XOPUSD
2014-09-30	326	$426.0M	100	1SPY 2LYB 3GPRO Top holdings2014-09-30 1.SPY 2.LYB 3.GPRO 4.DDD 5.IWM 6.NUE 7.CHD 8.CRREUR 9.DE 10.GLD
2014-06-30	302	$316.7M	100	1IWM 2XLE 3IMMR Top holdings2014-06-30 1.IWM 2.XLE 3.IMMR 4.GLD 5.USA 6.RRC 7.VLO 8.UNP 9.VMWEUR 10.DE
2014-03-31	305	$302.5M	100	1SPY 2UPS 3IMMR Top holdings2014-03-31 1.SPY 2.UPS 3.IMMR 4.CMCSA 5.SDRL 6.DVN 7.EQT 8.VIPS 9.VMWEUR 10.WYNN
2013-12-31	286	$314.9M	100	1IMMR205463D3T Top holdings2013-12-31 1.IMMR 2.05463D 3.T 4.PXDEUR 5.WYNN 6.DDD 7.EOG 8.CXOEUR 9.CAT 10.XECEUR
2013-09-30	458	$437.6M	100	1IWM 2IMMR 3UPS Top holdings2013-09-30 1.IWM 2.IMMR 3.UPS 4.TSLA 5.H89128 6.879664 7.HON 8.TRN 9.CMCSA 10.IAUUSD
2013-06-30	503	$686.8M	0	1GLD 2ISRG374835Y Top holdings2013-06-30 1.GLD 2.ISRG 3.74835Y 4.IMMR 5.WDC 6.879664 7.740189 8.HFCUSD 9.HN9 10.BA

Holding changes this quarter

Dialectic Capital Management, LP's most significant position changes for 2017-03-31: New buy: ; Sold out: Walmart INC (WMT); Sold out: Spdr Gold Shares (GLD); Sold out: Tesla INC (TSLA); Sold out: United Parcel Service-cl B (UPS).

Position changes disclosed by Dialectic Capital Management, LP for the quarter ending 2017-03-31, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	WB	Weibo Corp-spon Adr	+1.9%	+80.00%	Add
2	✓	Health Insurance Innovatio-a	+1.5%	+39.72%	Add
3	✓	Invuity INC	+1.3%	+67.66%	Add
4	BWXT	Bwx Technologies INC	+1.2%	+25.20%	Add
5	LONEEUR	Lonestar Resources US I-cl A	-0.5%	+17.53%	Add
6	KRG	Kite Realty Group Trust	-1%	-72.94%	Trim
7	VG1EUR	Vonage Holdings CORP	-1.4%	-40.60%	Trim
8	NRP	Natural Resource Partners LP	-2.4%	-80.17%	Trim
9	RILY	Brc Group Holdings INC	-2.6%	-21.69%	Trim
10	✓		—	NEW	New buy
11	WMT	Walmart INC	—	EXIT	Sold out
12	GLD	Spdr Gold Shares	—	EXIT	Sold out
13	TSLA	Tesla INC	—	EXIT	Sold out
14	UPS	United Parcel Service-cl B	—	EXIT	Sold out
15	IWM	Ishares Russell 2000 ETF	—	NEW	New buy
16	XLI	Ss Industrial Select Sector	—	NEW	New buy
17	UTXZ	United Tech CORP	—	EXIT	Sold out
18	OSVEUR	Vaneck Vectors Oil Services	—	EXIT	Sold out
19	MDY	State Street Spdr S&p Midcap	—	EXIT	Sold out
20	HII	Huntington Ingalls Industrie	—	EXIT	Sold out
21	ITB	Ishares U.s. Home Constructi	—	NEW	New buy
22	ARCH1EUR	Arch Resources INC	—	EXIT	Sold out
23	CTRA	Coterra Energy INC	—	EXIT	Sold out
24	TREE	Lendingtree INC	—	EXIT	Sold out
25	CCK	Crown Holdings INC	—	EXIT	Sold out
26	✓		—	EXIT	Sold out
27	SIG	Signet Jewelers Limited	—	NEW	New buy
28	SUN	Sunoco LP	—	NEW	New buy
29	ISRG	Intuitive Surgical INC	—	NEW	New buy
30	AORT	Artivion INC	—	NEW	New buy
31	MCK	Mckesson CORP	—	NEW	New buy
32	TWLO	Twilio INC - A	—	EXIT	Sold out
33	CJ1EUR	C&j Energy Services INC	—	NEW	New buy
34	FXI	Ishares China Large-cap ETF	—	EXIT	Sold out
35	SXC	Suncoke Energy INC	—	EXIT	Sold out
36	SLRC	Slr Investment CORP	—	EXIT	Sold out
37	CF	Cf Industries Holdings INC	—	EXIT	Sold out
38	WHR	Whirlpool CORP	—	EXIT	Sold out
39	✓	Ferroglobe PLC	—	EXIT	Sold out
40	MGM	Mgm Resorts International	—	EXIT	Sold out
41	QURE	uniQure N.V.	—	EXIT	Sold out
42	TECK	Teck Resources Ltd-cls B	—	EXIT	Sold out
43	AMGN	Amgen INC	—	NEW	New buy
44	BIP	Brookfield Infrastructure Partners L.P.	—	NEW	New buy
45	✓	Wildhorse Resource Developme	—	NEW	New buy
46	NGVC	Natural Grocers By Vitamin C	—	NEW	New buy
47	✓		—	EXIT	Sold out
48	✓		—	NEW	New buy
49	MSFT	Microsoft CORP	—	NEW	New buy
50	TER	Teradyne INC	—	NEW	New buy

FAQ

What is Dialectic Capital Management, LP and what type of investor is it?

Dialectic Capital Management, LP is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2017-03-31), the firm manages a tracked equity portfolio valued at approximately $155.4M, spread across 98 disclosed positions.

What are Dialectic Capital Management, LP's largest equity positions?

Based on the latest 13F filing, Dialectic Capital Management, LP's top holdings by market value are: 1. — $39.7M (25.6%) 2. Brc Group Holdings INC (RILY) — $11.0M (7.1%) 3. Health Insurance Innovatio-a — $7.9M (5.1%) 4. Ishares Russell 2000 ETF (IWM) — $6.9M (4.4%) 5. Ss Industrial Select Sector (XLI) — $6.5M (4.2%)

What changes did Dialectic Capital Management, LP make in its most recent portfolio filing?

In the latest reported quarter, Dialectic Capital Management, LP made 50 notable position adjustments: 17 new positions were initiated, 5 existing holdings were added to, 4 positions were partially reduced, and 24 were completely exited. The largest of these moves: New buy: ; Sold out: Walmart INC (WMT); Sold out: Spdr Gold Shares (GLD); Sold out: Tesla INC (TSLA); Sold out: United Parcel Service-cl B (UPS)

What sectors does Dialectic Capital Management, LP focus on?

Dialectic Capital Management, LP is concentrated in the following sectors based on its current disclosed equity portfolio: • Information Technology: 63.5% • Health Care: 33.5% • Communication Services: 3.0%