Blue Chip Growth Portfolio II

Invests in common stocks of large and medium-sized blue chip companies that have the potential for above-average earnings growth and are well established.

Growth stocks have historically been more volatile than cyclical stocks.

CUSIP 77954T878
Prospectus

Morningstar (Category)

Morningstar
(Overall Rating)1

Large Growth
  (1,228 funds)

Data as of 08/31/2020

Data as of 08/31/2020

Fund Manager Tenure2

Net Assets3
(USD)

18yrs
$2.3b

Data as of 08/31/2020

Data as of 08/31/2020

Price
(USD)

Daily Price Change

$45.22
$+0.91

Data as of 09/25/2020

Data as of 09/25/2020

Morningstar Ratings™ are based on risk-adjusted returns. Click on "Overall Rating" for the fund's 3-, 5-, and 10-year (if applicable) Morningstar Ratings™.

Larry J. Puglia, CFA, CPA
Larry J. Puglia, CFA, CPA, Lead Portfolio Manager

Larry J. Puglia is a portfolio manager in the U.S. Equity Division. Larry has been managing the US Large-Cap Core Growth Equity Strategy since 1993 and has had lead responsibility for all institutional accounts and other investment products within the strategy since 1997. He also is president of the Investment Advisory Committee of the US Large-Cap Core Growth Equity Strategy. Larry is a vice president of T. Rowe Price Group, Inc.

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Strategy

Investment Objective

The fund seeks to provide long-term capital growth. Income is a secondary objective. 

Morningstar Equity Style

Large Growth

Data as of 08/31/2020

The Morningstar Style Box™, a proprietary Morningstar data point, is a 9-square grid that provides a graphical representation of the "investment style" of stocks and mutual funds. See disclaimer at bottom of page for more information.

Morningstar Rating

Period Rating Funds In Category (Large Growth)
Overall 1,228
3 Years 1,228
5 Years 1,091
10 Years 810

The Morningstar Rating™ for funds, or "star rating", is calculated for funds with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics.

Average Annual Total Returns (N/A)

1 YR
18.86%
Benchmark
7.51%
Value
11.35% 18.43%

Data as of 06/30/2020

3 YR
18.52%
Benchmark
10.73%
Value
7.79% 8.26%
5 YR
15.73%
Benchmark
10.73%
Value
5.00% 5.47%
10 YR
17.77%
Benchmark
13.99%
Value
3.78% 4.40%

Expense Ratio

Gross
1.10%
Net
1.00%
Limitation Type
Contractual
expires 04/30/2021

Benchmark: S&P 500 Index

Fund Inception: 04/30/2002

Current performance may be lower or higher than the quoted past performance, which cannot guarantee future results. Share price, principal value, and return will vary and you may have a gain or loss when you sell your shares. Average annual total return figures include changes in principal value, reinvested dividends, and capital gain distributions.

The gross expense ratio reflects the fund expenses as stated in the fee table of the fund's prospectus prior to the deduction of any waiver or reimbursement. The net expense ratio reflects fund expenses after the deduction of any waiver or reimbursement.  If a fund has an active contractual expense limitation, the expiration date is shown below the gross and net expense ratio values above.  Expense ratios are as of the most recent prospectus.

Current Year Performance (N/A)

Daily YTD
20.84%
Benchmark
3.53%
Value
17.31%

Data as of 09/25/2020

Monthly YTD
30.28%
Benchmark
9.74%
Value
20.54%

Data as of 08/31/2020

One Month
9.26%
Benchmark
7.19%
Value
2.07%
Three Months
22.36%
Benchmark
15.48%
Value
6.88%

Benchmark: S&P 500 Index

Fund Inception: 04/30/2002

Holdings

Total
Holdings
122
Largest Holding Amazon.com 11.62% Was (03/31/2020) 10.73%
Other View complete Full Holdings
Top 10 Holdings 49.17%

Data as of 06/30/2020

Largest Contributor

Amazon.com
11.62%

Largest Detractor

Ross Stores
0.59%

Data as of 06/30/2020

Purchase

PayPal Holdings
2.47%
Was 1.67%

Sale

Boeing
0.01%
Was 0.44%

Data as of 06/30/2020

Team (As of )

Larry J. Puglia, CFA, CPA

Larry J. Puglia, CFA, CPA
Lead Portfolio Manager

Larry J. Puglia is a portfolio manager in the U.S. Equity Division. Larry has been managing the US Large-Cap Core Growth Equity Strategy since 1993 and has had lead responsibility for all institutional accounts and other investment products within the strategy since 1997. He also is president of the Investment Advisory Committee of the US Large-Cap Core Growth Equity Strategy. Larry is a vice president of T. Rowe Price Group, Inc.

  • Fund manager
    since 2002
  • Years at
    T. Rowe Price 30
  • Years investment
    experience 31
Craig Watson

Craig Watson
Portfolio Specialist

Craig Watson is a portfolio specialist in the Equity Division of T. Rowe Price. He is a member of the U.S. Large-Cap Growth team working closely with institutional clients, consultants, and prospects. Mr. Watson is a vice president of T. Rowe Price Group, Inc.

  • Years at
    T. Rowe Price 12
  • Years investment
    experience 24

For a complete list of the members of the fund's Investment Advisory Committee, please refer to the fund's prospectus.

How to Invest

Shares of the Variable Insurance Portfolios are designed to be offered to insurance company separate accounts established for the purpose of funding variable annuity and variable life insurance contracts. The annuity and life contract holders or participants are not the shareholders of the funds. Rather, the separate account of the insurance company is the shareholder. The variable annuity and variable life contracts are described in separate prospectuses issued by the insurance companies. The funds assume no responsibility for such prospectuses, or variable annuity or variable life contracts.

Shares of the funds are sold and redeemed without the imposition of any sales commissions or redemption charges. However, certain other charges may apply to annuity or life contracts. Those charges are disclosed in the insurance contract prospectus. Your ability to exchange from these funds into any other T. Rowe Price fund that serves as an investment option under your insurance contract is governed by the terms of that contract and the insurance contract prospectus, as well as the funds’ excessive and short-term trading policy described in this section.

1

© 2020 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

2

Number of years managing the fund.  In the case of co-portfolio management, the longer tenure is displayed.

3

Figure applies to all share classes.

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