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Strategy

US Large-Cap Core Equity

The US Large-Cap Core Equity Composite seeks long-term capital growth primarily through investments in common stocks of well established large-cap U.S. companies that may have either value or growth characteristics.

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

Tracking Error
(5 Years)

12.99%
2.94%

1YR Return (Net)
(View Total Returns)

Information Ratio
(5 Years)

12.51%
0.40

Inception Date 30-Jun-2009

Performance figures calculated in USD

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Jeff Rottinghaus
Jeff Rottinghaus, Portfolio Manager

Jeff Rottinghaus is a portfolio manager in the U.S. Equity Division of T. Rowe Price. He is president of the US Large-Cap Core Equity and Growth & Income Strategies and chairman of the strategies' Investment Advisory Committees. In addition, he is a vice president and an Investment Advisory Committee member of the Dividend Growth and Capital Appreciation Strategies. Mr. Rottinghaus is a vice president of T. Rowe Price Group, Inc.

 

Strategy

Investment Approach

  • Carefully constructed portfolio of the portfolio manager’s highest conviction investment ideas supported by our deep pool of U.S. equity analysts.
  • Core style targeting attractive opportunities across the investable universe irrespective of growth or value style.
  • Investment process that:
    • leverages the stock selection capabilities of our global research team;
    • emphasizes fundamental bottom-up stock selection;
    • is combined with an in-depth valuation assessment;
    • has rigorous portfolio construction.
  • Active risk management process integrated throughout our analysis.
  • Focused Large-Cap approach with stock selection the primary source of value added.
  • High conviction portfolio takes meaningful bets based on rigorous proprietary research.

Portfolio Construction

  • 50 or fewer securities.
  • Invest in high conviction ideas over a two-year time horizon.
  • Typical position size range: +/- 4% relative to the benchmark.
  • Sector weights: Generally limited to +/- 10% relative to the benchmark.
  • Expected active share: targeting 70% or greater

Holdings

Total
Holdings
65
Largest Holding Microsoft 3.89% Was (31-Mar-2019) 3.65%
Other View Full Holdings Quarterly data as of 30-Jun-2019
Top 10 Holdings 26.91% View Top 10 Holdings Monthly data as of 30-Jun-2019

Top Purchase

Morgan Stanley (N)
1.19%
Was (31-Mar-2019) 0.00%

Top Sale

Chubb (E)
0.00%
Was (31-Mar-2019) 1.41%

Quarterly Data as of 30-Jun-2019

Sectors

Total
Sectors
11
Largest Sector Information Technology 18.55% Was (31-Mar-2019) 18.07%
Other View complete Sector Diversification

Monthly Data as of 30-Jun-2019

Benchmark: S&P 500 Index

Top Contributor^

Financials
Net Contribution 0.35%
Sector
0.01%
Selection 0.34%

Top Detractor^

Consumer Staples
Net Contribution -0.09%
Sector
0.02%
Selection
-0.11%

^Relative

Quarterly Data as of 30-Jun-2019

Largest Overweight

Materials
By2.34%
Portfolio 5.05%
Benchmark 2.71%

Largest Underweight

Information Technology
By-2.93%
Portfolio 18.55%
Benchmark 21.48%

Monthly Data as of 30-Jun-2019

Team (As of 07-Feb-2019)

Jeff Rottinghaus

Jeff Rottinghaus is a portfolio manager in the U.S. Equity Division of T. Rowe Price. He is president of the US Large-Cap Core Equity and Growth & Income Strategies and chairman of the strategies' Investment Advisory Committees. In addition, he is a vice president and an Investment Advisory Committee member of the Dividend Growth and Capital Appreciation Strategies. Mr. Rottinghaus is a vice president of T. Rowe Price Group, Inc.

Mr. Rottinghaus has 18 years of investment experience, all of which have been with T. Rowe Price. Prior to joining the firm in 2001, he was a financial consultant with Ernst & Young. Mr. Rottinghaus is a former part owner of software consulting firm Kelly-Levey & Associates.

Mr. Rottinghaus earned a B.S. in business administration from Bowling Green State University and an M.B.A. in finance from The Wharton School, University of Pennsylvania. He also is a certified public accountant.

  • Portfolio manager
    since
    2009
  • Years at
    T. Rowe Price
    18
  • Years investment
    experience
    19
Eric Papesh

Eric Papesh is a portfolio specialist in the U.S. Equity Division of T. Rowe Price. He is based in London and serves as a proxy for equity portfolio managers with institutional clients, consultants and prospects. Mr. Papesh supports T. Rowe Price's US Smaller Companies Equity and US Large-Cap Equity Strategies offered in the Europe, Middle East and Africa (EMEA) and Asia-Pacific (APAC) regions. He is a vice president of T. Rowe Price Group, Inc. and T. Rowe Price International Ltd.

Mr. Papesh has 22 years of financial services experience, two of which have been with T. Rowe Price. Before joining the firm in 2014, he was a senior research analyst with Russell Investments, where he focused on US equity investment strategies.

Mr. Papesh earned a B.A. in business administration and an M.B.A. from the University of Washington. He has also earned the Chartered Financial Analyst designation.

  • Years at
    T. Rowe Price
    4
  • Years investment
    experience
    24
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GIPS® Information

T. Rowe Price ("TRP") claims compliance with the Global Investment Performance Standards (GIPS®). TRP has been independently verified for the twenty one- year period ended June 30, 2017 by KPMG LLP. The verification report is available upon request. Verification assesses whether (1) the firm has complied with all the composite construction requirements of the GIPS standards on a firm-wide basis and (2) the firm's policies and procedures are designed to calculate and present performance in compliance with the GIPS standards. Verification does not ensure the accuracy of any specific composite presentation.

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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