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GIPS® Information

T. Rowe Price ("TRP") claims compliance with the Global Investment Performance Standards (GIPS®) and has prepared and presented this report in compliance with the GIPS standards. T. Rowe Price has been independently verified for the twenty four-year period ended June 30, 2020, by KPMG LLP. The verification report is available upon request. A firm that claims compliance with the GIPS standards must establish policies and procedures for complying with all the applicable requirements of the GIPS standards. Verification provides assurance on whether the firm’s policies and procedures related to composite and pooled fund maintenance, as well as the calculation, presentation, and distribution of performance, have been designed in compliance with the GIPS standards and have been implemented on a firm-wide basis. Verification does not provide assurance on the accuracy of any specific performance report.

TRP is a U.S. investment management firm with various investment advisers registered with the U.S. Securities and Exchange Commission, the U.K. Financial Conduct Authority, and other regulatory bodies in various countries and holds itself out as such to potential clients for GIPS purposes. TRP further defines itself under GIPS as a discretionary investment manager providing services primarily to institutional clients with regard to various mandates, which include U.S, international, and global strategies but excluding the services of the Private Asset Management group.

A complete list and description of all of the Firm's composites and/or a presentation that adheres to the GIPS® standards are available upon request. Additional information regarding the firm's policies and procedures for calculating and reporting performance results is available upon request

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Past performance is not a reliable indicator of future performance.

Strategy

US Large-Cap Core Growth Equity

The US Large-Cap Core Growth Equity Composite seeks long-term capital appreciation primarily through investment in common stocks of well established large- and medium-cap blue chip companies with potential for above-average earnings growth. Current income is a secondary objective for this strategy.

3YR Return Annualised (Net)
(View Total Returns)

Tracking Error
(5 Years)

19.48%
6.42%

1YR Return (Net)
(View Total Returns)

Information Ratio
(5 Years)

22.56%
0.98

Inception Date 31-Dec-1995

Performance figures calculated in USD

Paul Greene, II
Paul Greene, II, Lead Portfolio Manager

Paul Greene is the portfolio manager of the US Large-Cap Core Growth Equity Strategy in the U.S. Equity Division. He is a vice president and an Investment Advisory Committee member of the US Large-Cap Core Growth Equity, Communications and Technology Equity, and US Growth Stock Equity Strategies. He is an Investment Advisory Committee member of the Global Growth Equity and Global Focused Growth Equity Strategies. Paul is a vice president of T. Rowe Price Group, Inc., and T. Rowe Price Trust Company.

 

Strategy

Investment Approach

  • Identify high-quality companies with leading market positions in fertile growth fields.
  • Integrate fundamental research — emphasize sustainable growth, not momentum growth.
  • Focus on high-quality earnings, strong free cash flow growth, shareholder-oriented management, and rational competitive environments.
  • Avoid overpaying for growth, while broadly diversifying portfolios, to manage portfolio risk.

Portfolio Construction

  • Typically 100-140 stock portfolio
  • Individual position sizes are typical +/-3% relative to S&P 500 Index and +/-5% versus the Russell 1000 Growth Index weightings.
  • Sector weights range from 0.5X to 3.0X for primary S&P Index sectors and Russell 1000 Growth Index sectors.
  • Primary benchmark is S&P 500 Index. Secondary benchmark is Russell 1000 Growth Index.

Holdings

Total
Holdings
92
Largest Holding Amazon.com 10.44% Was (30-Jun-2021) 10.83%
Other View Full Holdings Quarterly data as of  30-Sep-2021
Top 10 Holdings 53.23% View Top 10 Holdings Monthly data as of  30-Sep-2021

Top Purchase

Eli Lilly And
1.00%
Was (30-Jun-2021) 0.01%

Top Sale

Salesforce.com
0.28%
Was (30-Jun-2021) 1.78%

Quarterly Data as of 30-Sep-2021

Sectors

Total
Sectors
7
Largest Sector Information Technology 39.51% Was (30-Jun-2021) 39.43%
Other View complete Sector Diversification

Monthly Data as of 30-Sep-2021

Benchmark: S&P 500 Index

Top Contributor^

Information Technology
Net Contribution 0.41%
Sector
0.10%
Selection 0.31%

Top Detractor^

Consumer Discretionary
Net Contribution -0.76%
Sector
-0.03%
Selection
-0.73%

^Relative

Quarterly Data as of 30-Sep-2021

Largest Overweight

Communication Services
By15.67%
Portfolio 26.96%
Benchmark 11.29%

Largest Underweight

Financials
By-8.70%
Portfolio 2.69%
Benchmark 11.39%

Monthly Data as of 30-Sep-2021