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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 Growth Equity

The US Large-Cap Growth Equity Composite seeks long-term capital appreciation by investing primarily in common stocks of large-cap growth companies based in the U.S.

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

Tracking Error
(5 Years)

24.58%
3.80%

1YR Return (Net)
(View Total Returns)

Information Ratio
(5 Years)

45.30%
1.01

Inception Date 30-Nov-2001

Performance figures calculated in USD

Taymour Tamaddon, CFA
Taymour Tamaddon, CFA, Lead 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.

 

Strategy

Investment Approach

  • Scrutinize both company- and industry-level fundamentals to identify companies with characteristics that support sustainable double-digit earnings growth.
  • Focus on high-quality earnings, strong free cash flow growth, shareholder-oriented management, and rational competitive environments.
  • Exploit differences between secular and cyclical trends.
  • Limit portfolio holdings to the most attractive growth opportunities across industries.

Portfolio Construction

  • Typically 60-75 stock portfolio
  • Individual position sizes typically range +/- 1.00% to 4.00% relative to Russell 1000 Growth Index
  • Sector weights will vary from 0.5X to 3.0X for primary sectors relative to Russell 1000 Growth Index

Holdings

Total
Holdings
84
Largest Holding Amazon.com 8.58% Was (31-Mar-2021) 8.63%
Other View Full Holdings Quarterly data as of  30-Jun-2021
Top 10 Holdings 50.43% View Top 10 Holdings Monthly data as of  30-Jun-2021

Top Purchase

Pinterest
0.51%
Was (31-Mar-2021) 0.32%

Top Sale

Goldman Sachs (E)
0.00%
Was (31-Mar-2021) 0.49%

Quarterly Data as of 30-Jun-2021

Sectors

Total
Sectors
8
Largest Sector Information Technology 34.78% Was (31-Mar-2021) 34.43%
Other View complete Sector Diversification

Monthly Data as of 30-Jun-2021

Benchmark: Russell 1000 Growth Index

Top Contributor^

Consumer Staples
Net Contribution 0.34%
Sector
0.34%
Selection 0.00%

Top Detractor^

Health Care
Net Contribution -0.44%
Sector
-0.00%
Selection
-0.44%

^Relative

Quarterly Data as of 30-Jun-2021

Largest Overweight

Communication Services
By13.41%
Portfolio 26.04%
Benchmark 12.63%

Largest Underweight

Information Technology
By-9.32%
Portfolio 34.78%
Benchmark 44.10%

Monthly Data as of 30-Jun-2021

Team (As of 01-Oct-2021)

Taymour Tamaddon, CFA

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.   

Taymour’s investment experience began in 2003, and he has been with T. Rowe Price since 2004, beginning in the U.S. Equity Division, after serving as a summer intern in 2003. Prior to this, Taymour was employed by Amazon.com in the areas of finance and merchandising. Before that, he was employed by Booz Allen Hamilton as a consultant, specializing in the energy industry.

Taymour earned a B.S., cum laude, in applied physics from Cornell University and an M.B.A. from Dartmouth College, Tuck School of Business, where he was an Edward Tuck Scholar with high distinction. Taymour also has earned the Chartered Financial Analyst® designation.

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

  • Portfolio manager
    since
    2016
  • Years at
    T. Rowe Price
    17
  • Years investment
    experience
    18
Larry J. Puglia, CFA, CPA

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.

Larry’s investment experience began in 1989, and he has been with T. Rowe Price since 1990, beginning as an investment analyst, specializing in financial services stocks, in the U.S. Equity Division. His coverage included banking, consumer finance, brokerage, investment management, and diversified financial companies. Prior to T. Rowe Price, Larry was employed by Peat Marwick Main & Co. as a senior manager.

Larry earned a B.B.A., summa cum laude, in accounting from the University of Notre Dame and an M.B.A. in finance from the University of Virginia, Darden School of Business, where he was a Shermet Scholar. He also has earned the Chartered Financial Analyst® designation and is a certified public accountant.

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

  • Years at
    T. Rowe Price
    31
  • Years investment
    experience
    32
Joseph Fath

Joe Fath is the portfolio manager for the U.S. Growth Stock Equity Strategy, including the Growth Stock Fund, in which he is chairman of the investment advisory committee.  He is a vice president and member of the investment advisory committee of the U.S. Quantitative US, U.S. Mid-Cap Growth Equity, U.S. Communications and Technology and U.S. Large-Cap Growth Equity Strategies.   He is vice president of T. Rowe Price Group. 

Joe’s investment experience began in 2000 and he has been with T. Rowe Price since 2002, beginning in the U.S. Equity Division after serving as a summer intern in 2001.   Prior to this, Joe was the chief financial officer and co-founder of Broadform, Inc., a start-up educational software company.  In addition, he worked as director of operations and analysis for Players International, a multi-jurisdictional gaming operator in the United States.  Joe was also employed by Coopers & Lybrand as a senior associate in the Business Assurance and Financial Advisory Services Group.  

Joe earned a B.S., with honors, in accounting from the University of Illinois at Urbana-Champaign.  He also earned an M.B. A., with honors, in finance and entrepreneurial management from The Wharton School, University of Pennsylvania.  He is a Certified Public Accountant.

  • Years at
    T. Rowe Price
    19
  • Years investment
    experience
    21
Ronald Taylor

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.

Ron’s investment experience began in 1986, and he has been with T. Rowe Price since 2003, beginning in the U.S. Equity Division. Prior to this, Ron was employed by Zurich Scudder Investments as an equity product specialist and later as the director of Institutional Client Service; by Chancellor Capital Management as an equity product specialist; by Putnam Investments as an equity analyst and later in new business development and client service; and by Columbia Savings & Loan as a high yield bond analyst.

Ron earned a B.A. in economics from the University of California, Los Angeles, and an M.B.A. from Harvard Business School.

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

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.

Craig’s investment experience began in 1995, and he has been with T. Rowe Price since 2007, beginning in the U.S. Equity Division. Prior to this, Craig was employed by HSBC Securities as a senior vice president of global equity sales and by UBS as the director of institutional equity sales.

Craig earned a B.S., magna cum laude, in accounting from Hampton University and an M.B.A. from the University of Pennsylvania, The Wharton School. He is a certified public accountant.

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