Dispositional realism, as we shall use the term, is a non-reductive, anti-Humean approach to dispositions which says that natural properties confer certain dispositions as a matter of metaphysical necessity. A strong form of dispositional realism is known as pan-dispositionalism, which is typically interpreted as the view that all natural properties are identical with, or essentially dependent on, dispositions. One of the most serious problems facing pan-dispositionalism is the conceivability objection, and the solution commonly offered by essentialists employs the so-called redescription (...) strategy. In this paper I argue that this orthodox strategy fails in certain cases. This argument, in turn, shows that essentialist forms of dispositional realism are implausible. The discussion points us towards an improved version of dispositional realism. According to this new version, natural properties are not essentially dispositional but necessarily ground dispositions. (shrink)