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 |
NVIDIA
NVDA
|
+$900M |
| 2 |
Cisco
CSCO
|
+$204M |
| 3 |
Amazon
AMZN
|
+$152M |
| 4 |
Johnson & Johnson
JNJ
|
+$150M |
| 5 |
Brookfield Infrastructure
BIPC
|
+$110M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Meta Platforms (Facebook)
META
|
+$430M |
| 2 |
ATVI
Activision Blizzard
ATVI
|
+$305M |
| 3 |
TWNK
Hostess Brands, Inc. Class A Common Stock
TWNK
|
+$299M |
| 4 |
Merck
MRK
|
+$291M |
| 5 |
TRTN
Triton International Limited
TRTN
|
+$282M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 18.11% |
| 2 | Financials | 17.15% |
| 3 | Industrials | 13.2% |
| 4 | Consumer Discretionary | 11.26% |
| 5 | Healthcare | 10.16% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
101
Builders FirstSource
BLDR
$7.1B
| $501M | 0.15% |
2,999,174
-1,158,056
| -28% | -$154M |
|
102
Amkor Technology
AMKR
$12B
| $494M | 0.14% |
14,860,585
+244,026
| +2% | +$6.41M |
|
103
Phillips 66
PSX
$84.4B
| $493M | 0.14% |
3,702,734
+315,889
| +9% | +$37.8M |
|
104
Extra Space Storage
EXR
$31.3B
| $492M | 0.14% |
3,066,040
-3,027
| -0.1% | -$385K |
|
105
McDonald's
MCD
$191B
| $486M | 0.14% |
1,639,020
+6,875
| +0.4% | +$1.87M |
|
106
Chubb
CB
$135B
| $482M | 0.14% |
2,134,614
+52,961
| +3% | +$11.6M |
|
107
Norfolk Southern
NSC
$75B
| $472M | 0.14% |
1,998,327
-77,645
| -4% | -$16.3M |
|
108
HSBC
HSBC
$367B
| $471M | 0.14% |
11,621,349
+376,641
| +3% | +$14.6M |
|
109
Lockheed Martin
LMT
$132B
| $471M | 0.14% |
1,038,161
+27,349
| +3% | +$12.1M |
|
110
TSMC
TSM
$2.09T
| $469M | 0.14% |
4,505,919
-63,979
| -1% | -$6.1M |
|
111
Citigroup
C
$222B
| $468M | 0.14% |
9,101,099
-229,861
| -2% | -$10.2M |
|
112
Nike
NKE
$62.7B
| $468M | 0.14% |
4,309,235
+64,325
| +2% | +$6.91M |
|
113
Dow Inc
DOW
$21.7B
| $465M | 0.14% |
8,477,662
+43,597
| +0.5% | +$2.23M |
|
114
Automatic Data Processing
ADP
$105B
| $459M | 0.13% |
1,970,465
+54,816
| +3% | +$12.8M |
|
115
Hartford Financial Services
HIG
$39.2B
| $458M | 0.13% |
5,695,656
-17,048
| -0.3% | -$1.28M |
|
116
Freeport-McMoran
FCX
$91.2B
| $457M | 0.13% |
10,727,376
+90,663
| +0.9% | +$3.35M |
|
117
VICI Properties
VICI
$29B
| $456M | 0.13% |
14,294,012
+84,662
| +0.6% | +$2.49M |
|
118
Humana
HUM
$44B
| $451M | 0.13% |
984,618
+8,164
| +0.8% | +$4.02M |
|
|
TMHC
119
DELISTED
Taylor Morrison
TMHC
| $445M | 0.13% |
8,347,712
-199,701
| -2% | -$8.93M |
|
120
Republic Services
RSG
$65B
| $442M | 0.13% |
2,681,941
-295,969
| -10% | -$45.9M |
|
121
Occidental Petroleum
OXY
$55.6B
| $441M | 0.13% |
7,391,465
-70,927
| -1% | -$4.33M |
|
122
General Motors
GM
$80B
| $435M | 0.13% |
12,110,486
+59,416
| +0.5% | +$1.84M |
|
123
BP
BP
$114B
| $431M | 0.13% |
12,164,045
+87,881
| +0.7% | +$3.22M |
|
124
LyondellBasell Industries
LYB
$19.5B
| $428M | 0.13% |
4,504,443
-253,930
| -5% | -$23.7M |
|
125
American International
AIG
$41.8B
| $416M | 0.12% |
6,138,519
-5,581
| -0.1% | -$356K |
|
Similar funds
Dimensional Fund Advisors's Q4 2023 Portfolio in Review
As of Q4 2023, Dimensional Fund Advisors held 3,516 positions worth $342B, up 12% from $305B the previous quarter. Its ten largest holdings account for 12% of the portfolio.
Trading was light in Q4 2023: portfolio turnover was 4.3%. Dimensional Fund Advisors opened 49 new positions and exited 103, leaving the 3,516-position portfolio largely intact.
By sector, the portfolio is most concentrated in Technology at 18% of assets, up from 17% a quarter earlier, followed by Financials and Industrials.
- Dimensional Fund Advisors's largest Q4 2023 buy was Veralto: 961,231 shares worth $79.1M.
- Dimensional Fund Advisors added most to NVIDIA in Q4 2023, an estimated $900M increase.
- Dimensional Fund Advisors's biggest Q4 2023 reduction was Meta Platforms (Facebook), cutting an estimated $430M.
- Dimensional Fund Advisors fully exited Activision Blizzard in Q4 2023, selling an estimated $305M.
- Dimensional Fund Advisors's ten largest holdings make up 12% of its $342B portfolio in Q4 2023.
- Dimensional Fund Advisors opened 49 new positions and closed 103 in Q4 2023.
- Dimensional Fund Advisors's portfolio value rose 12% quarter-over-quarter to $342B.
Based on Dimensional Fund Advisors's 13F filing for Q4 2023, filed 7 Feb 2024.