Dimensional Fund Advisors Portfolio holdings
Dimensional Fund Advisors (DFA), founded in 1981 by David Booth and Rex Sinquefield and headquartered in Austin, Texas, is an investment management firm renowned for its evidence-based, low-cost approach to investing, grounded in academic research from Nobel laureates like Eugene Fama and Kenneth French. Managing hundreds of billions in assets, DFA focuses on systematic, passive strategies that tilt toward factors like small-cap, value, and profitability stocks, primarily through mutual funds and institutional portfolios rather than retail brokerage services. The firm’s philosophy eschews market timing and stock picking, instead emphasizing diversification and efficient market exposure, often requiring investors to access its funds through approved financial advisors. With a global presence and a reputation for disciplined, data-driven investing, DFA has carved a unique niche in the industry, blending academic rigor with practical application.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Cigna
CI
|
+$334M |
| 2 |
Marathon Petroleum
MPC
|
+$283M |
| 3 |
CVS Health
CVS
|
+$227M |
| 4 |
ConocoPhillips
COP
|
+$172M |
| 5 |
Linde
LIN
|
+$128M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AET
Aetna Inc
AET
|
+$740M |
| 2 |
ESRX
Express Scripts Holding Company
ESRX
|
+$612M |
| 3 |
ANDV
Andeavor
ANDV
|
+$447M |
| 4 |
Cisco
CSCO
|
+$307M |
| 5 |
CA
CA, Inc.
CA
|
+$252M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 18.86% |
| 2 | Industrials | 13.02% |
| 3 | Technology | 12.73% |
| 4 | Healthcare | 10.57% |
| 5 | Consumer Discretionary | 10.44% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
Union Pacific
UNP
$172B
| $473M | 0.21% |
3,425,071
+22,644
| +0.7% | +$3.35M |
|
52
Public Storage
PSA
$59.3B
| $473M | 0.21% |
2,337,057
-23,067
| -1% | -$4.71M |
|
53
Amgen
AMGN
$209B
| $472M | 0.21% |
2,426,320
-6,329
| -0.3% | -$1.23M |
|
54
Morgan Stanley
MS
$330B
| $467M | 0.21% |
11,786,637
+154,165
| +1% | +$6.73M |
|
55
RTX Corp
RTX
$289B
| $467M | 0.21% |
6,965,658
+408,225
| +6% | +$32M |
|
56
HSBC
HSBC
$367B
| $462M | 0.21% |
11,652,323
-625,281
| -5% | -$25M |
|
|
RDS.B
57
DELISTED
Royal Dutch Shell PLC ADS Class B
RDS.B
| $452M | 0.2% |
7,536,254
-60,351
| -0.8% | -$3.86M |
|
58
Micron Technology
MU
$988B
| $431M | 0.2% |
13,570,069
+115,976
| +0.9% | +$4.4M |
|
|
RDS.A
59
DELISTED
Royal Dutch Shell PLC ADS Class A
RDS.A
| $429M | 0.19% |
7,358,118
-90,788
| -1% | -$5.63M |
|
60
Boeing
BA
$175B
| $424M | 0.19% |
1,314,198
-183,856
| -12% | -$63.5M |
|
61
Equinix
EQIX
$103B
| $422M | 0.19% |
1,198,292
+848
| +0.1% | +$330K |
|
62
Broadcom
AVGO
$1.85T
| $418M | 0.19% |
16,443,080
+962,330
| +6% | +$22.7M |
|
63
Occidental Petroleum
OXY
$55.6B
| $411M | 0.19% |
6,690,890
+331,307
| +5% | +$23.3M |
|
64
Danaher
DHR
$138B
| $403M | 0.18% |
4,409,918
-3,679
| -0.1% | -$334K |
|
65
Valero Energy
VLO
$92.6B
| $401M | 0.18% |
5,350,471
-230,624
| -4% | -$20.3M |
|
66
Delta Air Lines
DAL
$58.3B
| $389M | 0.18% |
7,801,924
+50,255
| +0.6% | +$2.74M |
|
67
IBM
IBM
$209B
| $388M | 0.18% |
3,570,053
+189,892
| +6% | +$22.8M |
|
68
Welltower
WELL
$170B
| $388M | 0.18% |
5,585,442
+17,550
| +0.3% | +$1.19M |
|
69
Alibaba
BABA
$279B
| $387M | 0.18% |
2,818,587
+35,509
| +1% | +$5.25M |
|
70
Humana
HUM
$44B
| $386M | 0.17% |
1,347,314
-73,241
| -5% | -$23.2M |
|
71
FedEx
FDX
$73B
| $383M | 0.17% |
2,374,522
+418,451
| +21% | +$88.5M |
|
72
Oracle
ORCL
$367B
| $377M | 0.17% |
8,351,607
+393,223
| +5% | +$18.8M |
|
|
BNY
73
Bank of New York Mellon
BNY
$106B
| $375M | 0.17% |
7,971,097
-343,918
| -4% | -$16.7M |
|
74
United Airlines
UAL
$40.1B
| $371M | 0.17% |
4,435,231
+49,211
| +1% | +$4.32M |
|
75
Mondelez International
MDLZ
$80.5B
| $367M | 0.17% |
9,169,024
-110,751
| -1% | -$4.72M |
|
Similar funds
Dimensional Fund Advisors's Q4 2018 Portfolio in Review
As of Q4 2018, Dimensional Fund Advisors held 3,519 positions worth $221B, down 16% from $263B the previous quarter. Its ten largest holdings account for 9.7% of the portfolio.
Trading was light in Q4 2018: portfolio turnover was 4.6%. Dimensional Fund Advisors opened 94 new positions and exited 67, leaving the 3,519-position portfolio largely intact.
By sector, the portfolio is most concentrated in Financials at 19% of assets, down from 19% a quarter earlier, followed by Industrials and Technology.
- Dimensional Fund Advisors's largest Q4 2018 buy was Linde: 812,164 shares worth $127M.
- Dimensional Fund Advisors added most to Cigna in Q4 2018, an estimated $334M increase.
- Dimensional Fund Advisors's biggest Q4 2018 reduction was Cisco, cutting an estimated $307M.
- Dimensional Fund Advisors fully exited Aetna Inc in Q4 2018, selling an estimated $740M.
- Dimensional Fund Advisors's ten largest holdings make up 9.7% of its $221B portfolio in Q4 2018.
- Dimensional Fund Advisors opened 94 new positions and closed 67 in Q4 2018.
- Dimensional Fund Advisors's portfolio value fell 16% quarter-over-quarter to $221B.
Based on Dimensional Fund Advisors's 13F filing for Q4 2018, filed 13 Feb 2019.