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 | |
|---|---|---|---|---|---|---|
1976
Franklin Covey
FC
$242M
| $19.8M | 0.01% |
885,445
-39,534
| -4% | -$883K |
|
1977
KRONOS Worldwide
KRO
$693M
| $19.8M | 0.01% |
1,714,878
+164,229
| +11% | +$2.21M |
|
1978
DexCom
DXCM
$31.5B
| $19.7M | 0.01% |
659,052
+13,872
| +2% | +$440K |
|
|
DSPG
1979
DELISTED
DSP Group Inc
DSPG
| $19.7M | 0.01% |
1,761,537
-70,978
| -4% | -$829K |
|
1980
OneSpan
OSPN
$574M
| $19.7M | 0.01% |
1,522,093
+15,311
| +1% | +$249K |
|
1981
Laureate Education
LAUR
$5.28B
| $19.7M | 0.01% |
1,291,240
+213,470
| +20% | +$3.2M |
|
1982
Workday
WDAY
$39.6B
| $19.6M | 0.01% |
123,024
+7,353
| +6% | +$1.04M |
|
1983
Donnelley Financial Solutions
DFIN
$1.16B
| $19.6M | 0.01% |
1,394,738
+52,642
| +4% | +$841K |
|
1984
New Oriental
EDU
$9.37B
| $19.6M | 0.01% |
356,779
+64,600
| +22% | +$3.74M |
|
|
GMS
1985
DELISTED
GMS Inc
GMS
| $19.5M | 0.01% |
1,314,769
+428,497
| +48% | +$7.52M |
|
1986
Village Super Market
VLGEA
$651M
| $19.4M | 0.01% |
726,521
+24,820
| +4% | +$647K |
|
1987
Palo Alto Networks
PANW
$270B
| $19.4M | 0.01% |
618,894
+26,976
| +5% | +$841K |
|
1988
Schneider National
SNDR
$6.26B
| $19.4M | 0.01% |
1,037,240
+254,938
| +33% | +$5.47M |
|
1989
National Grid
NGG
$80.4B
| $19.2M | 0.01% |
453,631
+24,196
| +6% | +$1.13M |
|
1990
Superior Group of Companies
SGC
$185M
| $19.2M | 0.01% |
1,086,743
+844
| +0.1% | +$15.3K |
|
|
BREW
1991
DELISTED
Craft Brew Alliance, Inc.
BREW
| $19.1M | 0.01% |
1,334,339
+15,902
| +1% | +$262K |
|
1992
Warrior Met Coal
HCC
$4.19B
| $19.1M | 0.01% |
791,490
+404,063
| +104% | +$10.3M |
|
|
COWN
1993
DELISTED
Cowen Inc. Class A Common Stock
COWN
| $19M | 0.01% |
1,427,352
-9,759
| -0.7% | -$149K |
|
|
TERP
1994
DELISTED
TerraForm Power, Inc
TERP
| $19M | 0.01% |
1,695,300
+215,642
| +15% | +$2.42M |
|
1995
Northrim BanCorp
NRIM
$590M
| $19M | 0.01% |
2,313,340
+3,892
| +0.2% | +$35.9K |
|
1996
Vitamin Cottage Natural Grocers
NGVC
$739M
| $19M | 0.01% |
1,239,748
+10,737
| +0.9% | +$190K |
|
1997
Grupo Aeroportuario del Pacifico
PAC
$12.9B
| $19M | 0.01% |
232,482
-1,549
| -0.7% | -$130K |
|
1998
Shake Shack
SHAK
$2.53B
| $19M | 0.01% |
417,461
+141,498
| +51% | +$7.3M |
|
|
BSMX
1999
DELISTED
Banco Santander México, S, A., Institución de Banca Múltiple, Grupo Financiero Santander México
BSMX
| $18.9M | 0.01% |
3,073,174
-58,281
| -2% | -$392K |
|
|
HSKA
2000
DELISTED
Heska Corp
HSKA
| $18.9M | 0.01% |
219,430
+1,253
| +0.6% | +$123K |
|
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.