Overview
A. Description of the Advisory Firm
Dipsea Capital LLC (hereinafter "DCL") is a SEC-registered investment adviser. DCL is a Limited
Liability Company organized in the State of California. The firm was formed in January 2002, and the
principal owner is Christopher Antonio.
B. Types of Advisory Services
Portfolio Management Services
DCL offers investment management services employing investment strategies described in Item 8.
DCL provides advice to a private fund, Dipsea Capital Fund LP, and separately managed accounts
(SMAs).
DCL seeks to provide that investment decisions are made in accordance with the fiduciary duties owed
to its accounts and without consideration of DCL's economic, investment, or other financial interests.
To meet its fiduciary obligations, DCL attempts to avoid, among other things, investment or trading
practices that systematically advantage or disadvantage certain client portfolios, and accordingly,
DCL's policy is to seek fair
and equitable allocation of investment opportunities/transactions among its
clients to avoid favoring one client over another over time. It is DCL's policy to allocate investment
opportunities and transactions it identifies as being appropriate and prudent among its clients on a fair
and equitable basis over time.
C. Client Tailored Services and Client Imposed Restrictions
SMA clients may tailor the parameters of their accounts. Specific parameters are defined and agreed
in a separate management agreement for each account.
D. Wrap Fee Programs
A wrap fee program is an investment program where the investor pays one stated fee that includes
management fees, transaction costs, and certain other administrative fees. DCL does not participate in
wrap fee programs.
E. Assets Under Management
DCL has the following assets under management:
Discretionary Accounts:Non-Discretionary Accounts:Date Calculated
$111,640,002$0December 31, 2023