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DCM
Dialectic Capital Management Portfolio holdings
AUM
$155M
Turnover
75.7%
1-Year Est. Return
59.34%
This Fund
S&P 500
This Quarter
Est. Return
+2.28%
1 Year Est. Return
+59.34%
3 Year Est. Return
+91.46%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$315M
AUM Growth
-$123M
(-28%)
Cap. Flow
-$34M
Cap. Flow
% of AUM
-10.81%
Top 10 Holdings %
Top 10 Hldgs %
25.4%
Holding
235
New
70
Increased
25
Reduced
47
Closed
92
Avg Time Held Equity + Options
0.2
years
Top 10 Avg Time Held Equity + Options
0.1
years
Top 20 Avg Time Held Equity + Options
0.1
years
Avg Time Held Equity only
0.2
years
Top 10 Avg Time Held Equity only
0.1
years
Top 20 Avg Time Held Equity only
0.1
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
NMI Holdings
NMIH
|
+$4.16M |
| 2 |
TWX
Time Warner Inc
TWX
|
+$3.7M |
| 3 |
Allegion
ALLE
|
+$3.19M |
| 4 |
LGF
Lions Gate Entertainment
LGF
|
+$2.55M |
| 5 |
Liberty Global Class A
LBTYA
|
+$2.35M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
TLAB
TELLABS INC
TLAB
|
+$8.98M |
| 2 |
Immersion
IMMR
|
+$6.58M |
| 3 |
Packaging Corp of America
PKG
|
+$3.47M |
| 4 |
Cineverse
CNVS
|
+$3.21M |
| 5 |
iShares Gold Trust
IAU
|
+$3.17M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 59.69% |
| 2 | Consumer Discretionary | 9.34% |
| 3 | Technology | 8.67% |
| 4 | Financials | 5.09% |
| 5 | Communication Services | 4.52% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Immersion
IMMR
$235M
| $13.6M | 4.33% |
1,314,073
-537,000
| -29% | -$6.58M |
2013 Q2
2 quarters
|
|
2
PUT
AT&T
T
$158B
| $10.2M | 3.23% |
+383,563
| New | +$10.1M |
2013 Q4
0 quarters
|
|
|
AXLL
3
CALL
DELISTED
AXIALL CORP COM STK (DE)
AXLL
| $9.23M | 2.93% |
+194,500
| New | +$8.37M |
2013 Q4
0 quarters
|
|
4
CALL
DELISTED
Pioneer Natural Resource Co.
PXD
| $8.06M | 2.56% |
+43,800
| New | +$8.43M |
2013 Q4
0 quarters
|
|
5
PUT
3D Systems Corp
DDD
$487M
| $7.43M | 2.36% |
+80,000
| New | +$5.61M |
2013 Q4
0 quarters
|
|
6
CALL
EOG Resources
EOG
$80.9B
| $7.35M | 2.33% |
+87,600
| New | +$7.51M |
2013 Q4
0 quarters
|
|
7
CALL
Caterpillar
CAT
$344B
| $6.64M | 2.11% |
+73,100
| New | +$6.24M |
2013 Q4
0 quarters
|
|
|
CXO
8
CALL
DELISTED
CONCHO RESOURCES INC.
CXO
| $6.3M | 2% |
58,300
+24,100
| +70% | +$2.61M |
2013 Q2
2 quarters
|
|
9
CALL
Wynn Resorts
WYNN
$7.59B
| $5.57M | 1.77% |
+28,700
| New | +$4.89M |
2013 Q4
0 quarters
|
|
10
CALL
Eaton
ETN
$159B
| $5.56M | 1.77% |
73,100
-100
| -0.1% | -$7.12K |
2013 Q3
1 quarter
|
|
|
XEC
11
CALL
DELISTED
CIMAREX ENERGY CO
XEC
| $5.1M | 1.62% |
48,600
+23,200
| +91% | +$2.35M |
2013 Q2
2 quarters
|
|
|
VPHM
12
PUT
DELISTED
VIROPHARMA INC
VPHM
| $4.99M | 1.58% |
+100,000
| New | +$4.47M |
2013 Q4
0 quarters
|
|
|
ROSE
13
CALL
DELISTED
ROSETTA RESOURCES INC
ROSE
| $4.67M | 1.48% |
+97,200
| New | +$5.24M |
2013 Q4
0 quarters
|
|
14
CALL
MGM Resorts International
MGM
$7.29B
| $4.62M | 1.47% |
196,300
+26,400
| +16% | +$538K |
2013 Q2
2 quarters
|
|
|
POT
15
PUT
DELISTED
Potash Corp Of Saskatchewan
POT
| $4.49M | 1.42% |
136,100
+77,500
| +132% | +$2.47M |
2013 Q3
1 quarter
|
|
16
CALL
DELISTED
Hess
HES
| $4.03M | 1.28% |
48,600
-800
| -2% | -$65K |
2013 Q3
1 quarter
|
|
17
PUT
Coca-Cola
KO
$395B
| $4.02M | 1.28% |
+97,300
| New | +$3.84M |
2013 Q4
0 quarters
|
|
18
PUT
Trinity Industries
TRN
$2.08B
| $3.98M | 1.26% |
202,794
-271,966
| -57% | -$4.93M |
2013 Q2
2 quarters
|
|
|
19
NMI Holdings
NMIH
$2.99B
| $3.98M | 1.26% |
+312,600
| New | +$4.16M |
2013 Q4
0 quarters
|
|
20
PUT
DELISTED
Conn's Inc.
CONN
| $3.93M | 1.25% |
+50,000
| New | +$3.2M |
2013 Q4
0 quarters
|
|
|
TWX
21
DELISTED
Time Warner Inc
TWX
| $3.83M | 1.21% |
+57,234
| New | +$3.7M |
2013 Q4
0 quarters
|
|
22
PUT
State Street Utilities Select Sector SPDR ETF
XLU
$24.2B
| $3.7M | 1.18% |
+195,000
| New | +$3.73M |
2013 Q4
0 quarters
|
|
23
CALL
Weyerhaeuser
WY
$13.6B
| $3.61M | 1.15% |
+114,400
| New | +$3.42M |
2013 Q4
0 quarters
|
|
24
CALL
Toll Brothers
TOL
$12B
| $3.55M | 1.13% |
+95,900
| New | +$3.18M |
2013 Q4
0 quarters
|
|
|
EGN
25
CALL
DELISTED
Energen
EGN
| $3.44M | 1.09% |
+48,600
| New | +$3.65M |
2013 Q4
0 quarters
|
|
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Dialectic Capital Management's Q4 2013 Portfolio in Review
As of Q4 2013, Dialectic Capital Management held 235 positions worth $315M, down 28% from $438M the previous quarter. Its ten largest holdings account for 25% of the portfolio.
Dialectic Capital Management withdrew a net $34M in Q4 2013, closing 92 positions and reducing 47 holdings. Its most notable exit was TELLABS INC, an estimated $8.98M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 60% of assets, down from 65% a quarter earlier, followed by Consumer Discretionary and Technology.
Against the trend, Dialectic Capital Management opened a new position in NMI Holdings worth $3.98M.
- Dialectic Capital Management's largest Q4 2013 buy was NMI Holdings: 312,600 shares worth $3.98M.
- Dialectic Capital Management added most to Liberty Global Class A in Q4 2013, an estimated $2.35M increase.
- Dialectic Capital Management's biggest Q4 2013 reduction was Immersion, cutting an estimated $6.58M.
- Dialectic Capital Management fully exited TELLABS INC in Q4 2013, selling an estimated $8.98M.
- Dialectic Capital Management's ten largest holdings make up 25% of its $315M portfolio in Q4 2013.
- Dialectic Capital Management opened 70 new positions and closed 92 in Q4 2013.
- Dialectic Capital Management's portfolio value fell 28% quarter-over-quarter to $315M.
Based on Dialectic Capital Management's 13F filing for Q4 2013, filed 14 Feb 2014.