Real Estate Securities Portfolio


Inception Date
January 5, 1993 		Ticker Symbol
DFREX		 CUSIP Number
233-203-835

The Real Estate Securities Portfolio is a no-load mutual fund designed to achieve long-term capital appreciation. The Portfolio intends to invest only in shares of equity and hybrid Real Estate Investment Trusts (to the extent that at least 75% of the REITs assets are equity investments). The Portfolio invests in all eligible securities traded on the New York Stock Exchange, the American Stock Exchange, or the NASDAQ National Market System. The Portfolio is well diversified with respect to both geography and property type.

For a full description, please consult the Portfolio's prospectus.

Prices
Updated Daily
 
Date Closing Price NAV Change $ NAV Change %
November 19, 2008 $10.25 $-1.53 -12.99%

These Net Asset Values ("NAVs") have been prepared by the fund accounting agent. Dimensional Fund Advisors reserves the right to restate these NAVs, if necessary, at any time.


Performance
 
Updated Daily
Total Returns Year-to-Date
As of November 19, 2008 -55.84%


Updated Monthly
Total Returns One Month Three Month Year-to-Date
As of October 31, 2008 -31.53% -29.98% -30.38%
 
Average Annual Total Returns One Year Five Years Ten Years Since Inception
As of October 31, 2008 -41.15% 4.24% 8.68% 8.60%


Updated Quarterly
Average Annual Total Returns One Year Five Years Ten Years Since Inception
As of September 30, 2008 -13.08% 12.75% 12.63% 11.29%

Performance data represents past performance. Past performance is no guarantee of future results, and current performance may be higher or lower than the performance displayed. The investment return and principal value of an investment will fluctuate such that an investor's shares, when redeemed, may be worth more or less than their original cost. Total returns include reinvestment of dividends and capital gains and are net of all fees and expenses. Prior to April 2002, certain international equity portfolios charged a reimbursement fee to the purchasers of shares of those portfolios.


Annual Expenses Total Operating
Expense Ratio		 Net Expense Ratio
(to investor)
As of November 30, 2007 0.33% 0.33%



Distributions
Last 12 Months
 

Type		 Amount per Share Record Date Ex-dividend Date Payable Date Ex-dividend Price
Dividend $0.1670 6/9/2008 6/10/2008 6/13/2008 $24.16
Dividend $0.0430 3/7/2008 3/10/2008 3/13/2008 $21.67
Dividend $0.1420 12/18/2007 12/19/2007 12/24/2007 $23.45
LT Capital Gain $2.0140 12/18/2007 12/19/2007 12/24/2007 $23.45
ST Capital Gain $0.0340 12/18/2007 12/19/2007 12/24/2007 $23.45
Dividend $0.0750 11/23/2007 11/26/2007 11/29/2007 $25.29


Top Holdings
 

As of October 31, 2008
% of Portfolio
SIMON PROPERTY GROUP INC 8.02
PUBLIC STORAGE 7.32
VORNADO REALTY TRUST 5.78
EQUITY RESIDENTIAL 5.02
BOSTON PROPERTIES INC 4.50
HCP INC 3.48
KIMCO REALTY CORP 3.18
HEALTH CARE REIT INC 3.15
HOST HOTELS & RESORTS INC 2.94
AVALONBAY COMMUNITIES INC 2.89
VENTAS INC 2.68
PROLOGIS 1.98
FEDERAL REALTY INVESTMENT TRUST 1.89
NATIONWIDE HEALTH PROPERTIES INC 1.54
REGENCY CENTERS CORP 1.47
UDR INC 1.36
ESSEX PROPERTY TRUST INC 1.33
SL GREEN REALTY CORP 1.30
REALTY INCOME CORP 1.28
DIGITAL REALTY TRUST INC 1.28
Total 62.39


Sector Allocations
 
As of October 31, 2008 % of Portfolio
Consumer Discretionary 0.0
Reits 100.0
Total 100.0

Sectors defined by MSCI.


View proxy vote filings.

Market Risk
Even a long-term investment approach cannot guarantee a profit. Economic, political, and issuer-specific events will cause the value of securities, and the funds that own them, to rise or fall. Because the value of your investment in a fund will fluctuate, there is a risk that you will lose money.

Risk of Concentrating in the Real Estate Industry
The fund is concentrated in the real estate industry. The exclusive focus by the fund on the real estate industry may cause a fund's risk to approximate the general risks of direct real estate ownership. The performance of the fund may be materially different from the broad equity market.

Real Estate Investment Risk
The value of securities in the real estate industry can be affected by changes in real estate values and rental income, property taxes, interest rates, and tax and regulatory requirements. Investing in REITs and REIT-like entities involves certain unique risks in addition to those risks associated with investing in the real estate industry in general. REITs and REIT-like entities are dependent upon management skill, may not be diversified, and are subject to heavy cash flow dependency and self-liquidation. REITs and REIT-like entities also are subject to the possibility of failing to qualify for tax-free pass-through of income. Also, because REITs and REIT-like entities typically are invested in a limited number of projects or in a particular market segment, these entities are more susceptible to adverse developments affecting a single project or market segment than more broadly diversified investments.

Dimensional Fund Advisors is an investment advisor registered with the Securities and Exchange Commission. Consider the investment objectives, risks, and charges and expenses of the Dimensional funds carefully before investing. For this and other information about the Dimensional funds, please read the prospectus carefully before investing. Prospectuses are available by calling Dimensional Fund Advisors collect at (310) 395-8005; on the Internet at www.dimensional.com; or, by mail, DFA Securities Inc., c/o Dimensional Fund Advisors, 1299 Ocean Avenue, Santa Monica, CA 90401.

Mutual funds distributed by DFA Securities Inc.