Seeking superior returns from high quality US companies.
Investment ObjectiveTo increase the value of its shares, over the long term, through growth in the value of its investments. The fund invests mainly in a diversified portfolio of stocks of large and medium sized “blue chip” companies in the United States.
- 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.
- Typically 100-140 stock portfolio
- Active position sizes typically range +/- 3.00% relative to S&P 500 Index
- Sector weights vary from 0.5X to 2.0X for primary sectors relative to S&P 500 Index
|1 YR||3 YR
|Indicative Benchmark %||12.37%||9.98%||N/A||11.59%|
|Excess Return %||8.50%||7.76%||N/A||7.01%|
|1 YR||3 YR
|Indicative Benchmark %||-5.37%||3.59%||N/A||7.95%|
|Excess Return %||5.43%||7.79%||N/A||6.28%|
|Month to DateData as of 02-Jul-2020||Quarter to DateData as of 02-Jul-2020||Year to DateData as of 02-Jul-2020||1 MonthData as of 31-May-2020||3 MonthsData as of 31-May-2020|
|Indicative Benchmark %||1.00%||1.00%||-2.46%||3.09%||2.14%|
|Excess Return %||2.75%||2.75%||15.98%||0.03%||9.39%|
Past performance is not a reliable indicator of future performance. Source for fund performance: T. Rowe Price. Fund performance is calculated using the official NAV with dividends reinvested, if any. The value of an investment and any income from it can go down as well as up. Investors may get back less than the amount invested. It will be affected by changes in the exchange rate between the base currency of the fund and the subscription currency, if different. Sales charges (up to a maximum of 5% for the A Class), taxes and other locally applied costs have not been deducted and if applicable, they will reduce the performance figures.
Where the base currency of the fund differs from the share class currency, exchange rate movements may affect returns.
Index returns shown with reinvestment of dividends after the deduction of withholding taxes.
Effective 1 June 2019, the "net" version of the indicative benchmark replaced the "gross" version of the indicative benchmark. The "net" version of the indicative benchmark assumes the reinvestment of dividends after the deduction of withholding taxes applicable to the country where the dividend is paid; as such, the returns of the new benchmark are more representative of the returns experienced by investors in foreign issuers. Historical benchmark performance has been restated accordingly.
Largest Top Contributor^
Largest Top Detractor^
Consumer DiscretionaryNet Contribution 2.12%
Consumer StaplesNet Contribution -0.59%
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.
Mr. Puglia has 30 years of investment experience, 29 of which have been with T. Rowe Price. He joined the firm in 1990 as an investment analyst specializing in financial services stocks. His coverage included banking, consumer finance, brokerage, investment management, and diversified financial companies. Mr. Puglia also served as an investment analyst covering the pharmaceutical industry. He began his career at Peat Marwick Main & Co. in 1982, ultimately serving as a senior manager.
Mr. Puglia 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 named a Shermet Scholar. He has earned the Chartered Financial Analyst designation and is a certified public accountant.
- Fund manager2016
- Years at29
T. Rowe Price
- Years investment30
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.
Mr. Watson has 24 years of investment experience. Prior to joining the firm in 2007, he was senior vice president of global equity sales for HSBC Securities. Mr. Watson also was employed by UBS as director of institutional equity sales.
Mr. Watson earned a B.S., magna cum laude, in accounting from Hampton University and an M.B.A. from The Wharton School, University of Pennsylvania. He also has earned the certified public accountant accreditation.
- Years at12
T. Rowe Price
- Years investment24
|Share Class||Minimum Initial Investment and Holding Amount (USD)||Minimum Subsequent Investment (USD)||Minimum Redemption Amount (USD)||Sales Charge (up to)||Investment Management Fee (up to)||Ongoing Charges|
|Class A||$1,000||$100||$100||5.00%||150 basis points||1.59%|
|Class I||$2,500,000||$100,000||$0||0.00%||65 basis points||0.69%|
|Class J||$10,000,000||$0||$0||0.00%||0 basis points||0.03%|
|Class Q||$1,000||$100||$100||0.00%||65 basis points||0.75%|
Please note that the Ongoing Charges figure is inclusive of the Investment Management Fee and is charged per annum.