Institutional Large-Cap Growth Fund

Invests in companies having the following characteristics: above-average growth in earnings and cash flow, ability to sustain earning momentum even during economic slowdowns, and a lucrative niche in the economy and ability to expand even during times of slow economic growth.

As with all equity funds, this fund’s share price can fall because of weakness in the broad market, a particular industry, or specific holdings.

TRLGXCUSIP 45775L408
Prospectus

Morningstar (Category)

Morningstar
(Overall Rating)1

Large Growth
  (1,243 funds)

Data as of 09/30/2019

Data as of 09/30/2019

Fund Manager Tenure2

Net Assets3
(USD)

3yrs
$15.0b

Data as of 09/30/2019

Data as of 09/30/2019

Price
(USD)

Daily Price Change

$42.21
$-0.17

Data as of 10/16/2019

Data as of 10/16/2019

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™.

Taymour Tamaddon
Taymour Tamaddon, Lead Portfolio Manager

Taymour Tamaddon is the portfolio manager of the US Large-Cap Growth Equity Strategy in the U.S. Equity Division of T. Rowe Price. Mr. Tamaddon also is a vice president and a member of the Investment Advisory Committees for the Health Sciences, New America Growth, Growth Stock, Blue Chip Growth, and Capital Appreciation Strategies. He is a vice president of the T. Rowe Price Institutional International Funds, Inc., and the T. Rowe Price International Funds, Inc. Mr. Tamaddon also 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 appreciation through investments in common stocks of growth companies.

Morningstar Equity Style

Large Growth

Data as of 09/30/2019

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 1,243
3 Years 1,243
5 Years 1,110
10 Years 822

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 (Institutional)

1 YR
1.80%
Benchmark
3.71%
Value
-1.91% -1.91%

Data as of 09/30/2019

3 YR
19.56%
Benchmark
16.89%
Value
2.67% 2.67%
5 YR
14.74%
Benchmark
13.39%
Value
1.35% 1.35%
10 YR
15.87%
Benchmark
14.94%
Value
0.93% 0.93%

Expense Ratio

Gross
0.56%
Net
0.56%

Benchmark: Russell 1000 Growth Index

Fund Inception: 10/31/2001

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 (Institutional)

Daily YTD
18.24%
Benchmark
24.95%
Value
-6.71%

Data as of 10/16/2019

Monthly YTD
16.81%
Benchmark
23.30%
Value
-6.49%

Data as of 09/30/2019

One Month
-0.67%
Benchmark
0.01%
Value
-0.68%
Three Months
-1.11%
Benchmark
1.49%
Value
-2.60%

Benchmark: Russell 1000 Growth Index

Fund Inception: 10/31/2001

Asset Allocation

Net Assets
(USD)
$15.0b
Largest US Stock 89.61% $13.5b
Other View complete Asset Allocation

Data as of 09/30/2019

Holdings

Total
Holdings
63
Largest Holding Amazon.com 7.90% Was (06/30/2019) 8.53%
Other View complete Full Holdings
Top 10 Holdings 49.97% View the latest Top 10 Holdings
12-Month Portfolio Turnover 25.7% Data as of 09/30/2019

Data as of 09/30/2019

Largest Contributor

Alphabet
8.18%

Largest Detractor

Amazon.com
7.90%

Data as of 09/30/2019

Purchase

NextEra Energy (N)
1.35%
Was 0.00%

Sale

Red Hat (E)
0.00%
Was 1.13%

Data as of 09/30/2019

Sectors

Total
Sectors
9
Largest Sector Information Technology 30.10% Was (08/31/2019) 30.10%
Other View complete Sector Diversification

Data as of 09/30/2019

Benchmark: Russell 1000 Growth Index

Contributor

Utilities
By 0.11%
Sector 0.11%
Selection 0.00%

Detractor

Information Technology
By -0.89%
Sector -0.10%
Selection -0.79%

Data as of 09/30/2019

Over

Communication Services
By 8.02%
Fund 19.44%
Benchmark 11.41%

Under

Information Technology
By -7.48%
Fund 30.10%
Benchmark 37.58%

Data as of 09/30/2019

Team (As of )

Taymour Tamaddon

Taymour Tamaddon
Lead Portfolio Manager

Taymour Tamaddon is the portfolio manager of the US Large-Cap Growth Equity Strategy in the U.S. Equity Division of T. Rowe Price. Mr. Tamaddon also is a vice president and a member of the Investment Advisory Committees for the Health Sciences, New America Growth, Growth Stock, Blue Chip Growth, and Capital Appreciation Strategies. He is a vice president of the T. Rowe Price Institutional International Funds, Inc., and the T. Rowe Price International Funds, Inc. Mr. Tamaddon also is a vice president of T. Rowe Price Group, Inc.

  • Fund manager
    since 2016
  • Years at
    T. Rowe Price 15
  • Years investment
    experience 16
Larry Puglia

Larry Puglia
Portfolio Manager

Larry J. Puglia is a portfolio manager in the U.S. Equity Division of T. Rowe Price. He is president of the Investment Advisory Committee of the US Large-Cap Core Growth Equity Strategy. He 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. Mr. Puglia is a vice president of T. Rowe Price Group, Inc.

  • Years at
    T. Rowe Price 29
  • Years investment
    experience 30
Joseph Fath

Joseph Fath
Portfolio Manager

Joe Fath is the portfolio manager for the US Growth Stock Strategy and is a member of the portfolio management team for the US Large-Cap Growth Equity Strategy in the U.S. Equity Division. He is a member of the U.S. Equity Steering Committee. Mr. Fath is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price Associates, Inc.

  • Years at
    T. Rowe Price 17
  • Years investment
    experience 19
David L. Rowlett, CFA

David L. Rowlett, CFA
Portfolio Manager

David Rowlett is an associate portfolio manager for the US Large-Cap Growth Equity Strategy in the U.S. Equity Division of T. Rowe Price. He is a vice president and member of the Investment Advisory Committees of the New America Growth, Blue Chip Growth, Growth Stock, and Institutional Large-Cap Core Growth Strategies. Mr. Rowlett is a vice president of T. Rowe Price Group, Inc.

  • Years at
    T. Rowe Price 11
  • Years investment
    experience 16
Ronald Taylor

Ronald Taylor
Portfolio Specialist

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

  • Years at
    T. Rowe Price 16
  • 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 11
  • Years investment
    experience 23

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

How to Invest

View platform information
Share Class Min Initial Investment (USD) Min Subsequent Investment (USD) 12b-1 Fee Expense Ratio
Gross Net Limitation Type Limitation Expiration Date
Institutional
Cusip 45775L408
$1,000,000 N/A 0.00% 0.56% 0.56% N/A N/A
1

© 2019 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.

Russell Investment Group is the source and owner of the trademarks, service marks and copyrights related to the Russell Indexes. Russell® is a trademark of Russell Investment Group.

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