Strategy. To achieve the VA International Value Portfolios investment objective, Dimensional Fund Advisors LP (the Advisor) implements an integrated investment approach that combines research, portfolio design, portfolio management, and trading functions. As further described below, the Portfolios design emphasizes long-term drivers of expected returns identified by the Advisors research, while balancing risk through broad diversification across companies, sectors, and countries. The Advisors portfolio management and trading processes further balance those long-term drivers of expected returns with shorter-term drivers of expected returns and trading costs. The VA International Value Portfolio is designed to purchase securities of large non-U.S. companies in countries with developed markets that the Advisor determines to be lower relative price stocks. A companys market capitalization is the number of … Show more… To achieve the VA International Value Portfolios investment objective, Dimensional Fund Advisors LP (the Advisor) implements an integrated investment approach that combines research, portfolio design, portfolio management, and trading functions. As further described below, the Portfolios design emphasizes long-term drivers of expected returns identified by the Advisors research, while balancing risk through broad diversification across companies, sectors, and countries. The Advisors portfolio management and trading processes further balance those long-term drivers of expected returns with shorter-term drivers of expected returns and trading costs. The VA International Value Portfolio is designed to purchase securities of large non-U.S. companies in countries with developed markets that the Advisor determines to be lower relative price stocks. A companys market capitalization is the number of its shares outstanding times its price per share. Under a market capitalization weighted approach, companies with higher market capitalizations generally represent a larger proportion of the Portfolio than companies with relatively lower market capitalizations. The Advisor may overweight certain stocks, including smaller companies, lower relative price stocks and/or higher profitability stocks within the large-cap value segment of developed ex U.S. markets. An equity issuer is considered to have a low relative price (i.e., a value stock) primarily because it has a low price in relation to its book value. In assessing relative price, the Advisor may consider additional factors such as price to cash flow or price to earnings ratios. An equity issuer is considered to have high profitability because it has high earnings or profits from operations in relation to its book value or assets. The criteria the Advisor uses for assessing relative price and profitability are subject to change from time to time. The VA International Value Portfolio intends to purchase securities of large companies associated with developed market countries that the Advisor has designated as approved markets. The Advisor determines the minimum market capitalization of a large company with respect to each country or region in which the Portfolio invests. Based on market capitalization data as of December 31, 2025, for the Portfolio, the market capitalization of a large company in any country or region in which the Portfolio invests would be $1,852 million or above. This threshold will change due to market conditions. The Advisor may also increase or reduce the VA International Value Portfolios exposure to an eligible company, or exclude a company, based on shorter-term considerations, such as a companys price momentum and short-run reversals. In addition, the Advisor seeks to reduce trading costs using a flexible trading approach that looks for opportunities to participate in the available market liquidity, while managing turnover and explicit transaction costs. The VA International Value Portfolio also may gain exposure to companies associated with approved markets by purchasing equity securities in the form of depositary receipts, which may be listed or traded outside the issuers domicile country. The Portfolio may purchase or sell futures contracts and options on futures contracts for foreign or U.S. equity securities and indices to increase or decrease equity market exposure based on actual or expected cash inflows to or outflows from the Portfolio. Because many of the Portfolios investments may be denominated in foreign currencies, the Portfolio may enter into foreign currency exchange transactions, including foreign currency forward contracts, in connection with the settlement of foreign securities or to transfer cash balances from one currency to another currency. The VA International Value Portfolio may lend its portfolio securities to generate additional income. Show less