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.

Morningstar (Category)

Morningstar1

Large Growth
N/A

Fund Manager Tenure2

Net Assets3
(USD)

1yr
$23.9b

Data as of 09/30/2021

Data as of 09/30/2021

Price
(USD)

Daily Price Change

$74.06
$+0.14

Data as of 10/25/2021

Data as of 10/25/2021

Taymour Tamaddon, CFA
Taymour Tamaddon, CFA, Portfolio Manager

Taymour Tamaddon is the portfolio manager of the US Large-Cap Growth Equity Strategy in the U.S. Equity Division. He is a vice president and a member of the Investment Advisory Committees for the Health Sciences Equity, Global Growth Equity, US Growth Stock Equity, and Global Focused Growth Equity Strategies. Taymour is an executive vice president of T. Rowe Price Equity Funds and a vice president of the T. Rowe Price International Funds, Inc., and T. Rowe Price Global Funds. He is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price Trust Company.

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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 09/30/2021

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.

Average Annual Total Returns (Investor Class)

1 YR
30.99%
Benchmark
27.32%
Value
3.67% 3.67%

Data as of 09/30/2021

3 YR
N/A
Benchmark
N/A
Value
N/A N/A

Data as of 09/30/2021

5 YR
N/A
Benchmark
N/A
Value
N/A N/A

Data as of 09/30/2021

Since Inception
43.95%
Benchmark
42.47%
Value
1.48% 1.48%

Data as of 09/30/2021

Benchmark: Russell 1000 Growth Index

Fund Inception: 05/01/2020

Expense Ratio

Gross
0.71%
Net
0.70%
Limitation Type
Contractual
expires 04/30/2022

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.

Investors should note that short term returns greater than 40% are highly unusual and unlikely to be sustained.

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 (Investor Class)

Daily YTD
21.03%
Benchmark
22.00%
Value
-0.97%

Data as of 10/25/2021

Monthly YTD
15.92%
Benchmark
14.30%
Value
1.62%

Data as of 09/30/2021

One Month
-5.03%
Benchmark
-5.60%
Value
0.57%

Data as of 09/30/2021

Three Months
-0.55%
Benchmark
1.16%
Value
-1.71%

Data as of 09/30/2021

Benchmark: Russell 1000 Growth Index

Fund Inception: 05/01/2020

Asset Allocation

Net Assets
(USD)
$23.9b

Data as of 09/30/2021

Largest US Stock 88.60% $21.2b
Other View complete

Holdings

Total
Holdings
70

Data as of 09/30/2021

Largest Holding Microsoft 8.62% Was (06/30/2021) 8.35%
Other View complete Full Holdings
Top 10 Holdings 51.10% View the latest Top 10 Holdings
12-Month Portfolio Turnover 12.6% Data as of 09/30/2021

Largest Contributor

Alphabet
10.23%

Largest Detractor

Amazon.com
8.13%

Data as of 09/30/2021

Purchase

Amphenol (N)
0.65%
Was 0.00%

Sale

Alibaba Group Holding
0.53%
Was 1.46%

Data as of 09/30/2021

Sectors

Total
Sectors
8

Data as of 09/30/2021

Benchmark: Russell 1000 Growth Index

Largest Sector Information Technology 36.94% Was (08/31/2021) 36.44%
Other View complete

Contributor

Industrials & Business Services
By 0.47%
Sector 0.34%
Selection 0.12%

Detractor

Consumer Discretionary
By -1.13%
Sector -0.04%
Selection -1.09%

Data as of 09/30/2021

Over

Communication Services
By 13.43%
Fund 26.16%
Benchmark 12.73%

Under

Information Technology
By -7.48%
Fund 36.94%
Benchmark 44.42%

Data as of 09/30/2021

Team (As of )

Taymour Tamaddon, CFA

Taymour Tamaddon, CFA
Portfolio Manager

Taymour Tamaddon is the portfolio manager of the US Large-Cap Growth Equity Strategy in the U.S. Equity Division. He is a vice president and a member of the Investment Advisory Committees for the Health Sciences Equity, Global Growth Equity, US Growth Stock Equity, and Global Focused Growth Equity Strategies. Taymour is an executive vice president of T. Rowe Price Equity Funds and a vice president of the T. Rowe Price International Funds, Inc., and T. Rowe Price Global Funds. He is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price Trust Company.

  • Fund manager
    since 2020
  • Years at
    T. Rowe Price 17
  • Years investment
    experience 18
Ronald Taylor

Ronald Taylor
Portfolio Specialist

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

  • Years at
    T. Rowe Price 18
  • Years investment
    experience 33
Craig Watson, CPA

Craig Watson, CPA
Portfolio Specialist

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

  • Years at
    T. Rowe Price 14
  • Years investment
    experience 14

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
Investor Class
Cusip 87283V106
$2,500 $100 0.00% 0.71% 0.70% Contractual 04/30/2022
I Class
Cusip 45775L408
$1,000,000* N/A 0.00% 0.56% 0.56% N/A
N/A

* Minimum initial investment $1,000,000. Minimum is generally waived for intermediaries, certain retirement plans, and certain institutional client accounts.

1

© 2021 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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