CIK: 0001897612
Total reported value
$145.2B
Reporting period: 2026-03-31 · Number of holdings: 643
T. Rowe Price Investment Management, Inc. disclosed 643 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $145.2B and a quarterly turnover rate of 43.0%.
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T. Rowe Price Investment Management, Inc.'s disclosed holdings carry a Herfindahl concentration index of 0.009 — mathematically equivalent to about 108 equally-sized positions, well below its 643 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 2.23), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Add META
+135.7% $2.0B
Trim ABT
-84.5% -$2.0B
Add AMZN
+40.6% $1.1B
Trim GOOGL
-35.7% -$1.8B
Add WAT
+3366.7% $1.3B
Trim NVDA
-27.4% -$1.6B
META's weight doubling this quarter telegraphs a capital rotation out of the semiconductor trade (NVDA trimmed 0.82% weight) and into AI platform plays, while seeding a new healthcare equipment bet (WAT +0.93% weight). This is a high-conviction hunt for alpha as the AI value chain shifts from infrastructure to application layer monetization.
T. Rowe Price's sector weights – 24.8% Technology and 16% Consumer Discretionary – lay out a late-cycle expansion bet: expecting AI-driven growth and resilient consumer spending to sustain elevated multiples. The opposing thesis is that a demand deceleration or rate repricing will compress the very growth premiums this portfolio is banking on.
Factor crowd risk: with a 100th-percentile momentum score and a +6.6% tilt, this portfolio is a passive aggregator of the most consensus factor trade. A sharp regime shift to value or quality will hit performance not through any single stock but through systematic factor exposure that is now everyone's trade.
Sourced and summarized by AI from public SEC filings, limited to historical activity. Not investment guidance.
Showing top 200 holdings (of 643 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | AMZN | Amazon.com INC | Stock-Consumer Disc | 3.58% | +0.99% | +40.58% | |
| 2 | MSFT | Microsoft CORP | Stock-Tech | 3.25% | -0.04% | +18.19% | |
| 3 | AAPL | Apple INC | Stock-Tech | 2.74% | -0.09% | -4.84% | |
| 4 | META | Meta Platforms Inc-class A | Stock-Comm Services | 2.70% | +1.49% | +135.69% | |
| 5 | NVDA | Nvidia CORP | Stock-Tech | 2.33% | -0.82% | -27.38% | |
| 6 | PTC | Ptc INC | Stock-Tech | 1.87% | -0.15% | +3.94% | |
| 7 | CNP | Centerpoint Energy INC | Stock-Utilities | 1.76% | +0.35% | +1.73% | |
| 8 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 1.75% | -0.96% | -35.70% | |
| 9 | NI | Nisource INC | Stock-Utilities | 1.60% | — | -3.28% | |
| 10 | COR | Cencora INC | Stock-Healthcare | 1.36% | — | -6.06% | |
| 11 | AVGO | Broadcom INC | Stock-Tech | 1.36% | — | +16.13% | |
| 12 | RVTY | Revvity INC | Stock-Healthcare | 1.34% | — | -1.11% | |
| 13 | ALNY | Alnylam Pharmaceuticals INC | Stock-Healthcare | 1.18% | +0.74% | +196.15% | |
| 14 | YUM | Yum! Brands INC | Stock-Consumer Disc | 1.06% | -0.41% | -35.70% | |
| 15 | AMD | Advanced Micro Devices | Stock-Tech | 1.05% | — | -11.02% | |
| 16 | BDX | Becton Dickinson And Co | Stock-Healthcare | 1.05% | -0.71% | -32.64% | |
| 17 | LSCC | Lattice Semiconductor CORP | Stock-Tech | 1.04% | — | -17.92% | |
| 18 | IR | Ingersoll-rand INC | Stock-Industrials | 0.98% | — | -18.29% | |
| 19 | ✓ | Ascendis Pharma A/s | Stock-Other | 0.97% | +0.97% | NEW | |
| 20 | WAT | Waters CORP | Stock-Healthcare | 0.96% | +0.93% | +3366.74% | |
| 21 | HLT | Hilton Worldwide Holdings In | Stock-Consumer Disc | 0.90% | — | -5.00% | |
| 22 | AUR | Aurora Innovation INC | Stock-Consumer Disc | 0.83% | — | +6.24% | |
| 23 | SBUX | Starbucks CORP | Stock-Consumer Disc | 0.81% | -0.22% | -32.84% | |
| 24 | FTI | TechnipFMC plc | Stock-Energy | 0.80% | — | -27.97% | |
| 25 | CYTK | Cytokinetics INC | Stock-Healthcare | 0.80% | — | -1.09% | |
| 26 | MA | Mastercard INC - A | Stock-Financials | 0.72% | -0.19% | -17.38% | |
| 27 | A | Agilent Technologies INC | Stock-Healthcare | 0.71% | — | +10.42% | |
| 28 | MTSI | Macom Technology Solutions H | Stock-Tech | 0.69% | — | -16.92% | |
| 29 | LLYVK | Liberty Live Holdings-c | Stock-Other | 0.68% | — | +2.44% | |
| 30 | KDP | Keurig Dr Pepper INC | Stock-Consumer Staples | 0.68% | — | +43.57% | |
| 31 | LLY | Eli Lilly & Co | Stock-Healthcare | 0.65% | — | -6.75% | |
| 32 | UNH | Unitedhealth Group INC | Stock-Healthcare | 0.64% | -0.22% | -15.91% | |
| 33 | MTD | Mettler-toledo International | Stock-Healthcare | 0.64% | — | +5.85% | |
| 34 | VIK | Viking Holdings Ltd | Stock-Consumer Disc | 0.64% | — | +0.08% | |
| 35 | BURL | Burlington Stores INC | Stock-Consumer Disc | 0.63% | — | -1.08% | |
| 36 | APGE | Apogee Therapeutics INC | Stock-Other | 0.60% | +0.47% | +276.99% | |
| 37 | KEYS | Keysight Technologies In | Stock-Tech | 0.60% | — | -3.75% | |
| 38 | PLNT | Planet Fitness INC - Cl A | Stock-Consumer Disc | 0.60% | — | +25.94% | |
| 39 | ELAN | Elanco Animal Health INC | Stock-Healthcare | 0.57% | — | -1.68% | |
| 40 | AEE | Ameren Corporation | Stock-Utilities | 0.57% | -0.43% | -52.57% | |
| 41 | MSCI | Msci INC | Stock-Financials | 0.56% | — | +4.21% | |
| 42 | JPM | Jpmorgan Chase & Co | Stock-Financials | 0.55% | +0.50% | +1056.04% | |
| 43 | PPL | Ppl CORP | Stock-Utilities | 0.55% | -0.34% | -48.60% | |
| 44 | MPWR | Monolithic Power Systems INC | Stock-Tech | 0.54% | — | -0.40% | |
| 45 | ESAB | Esab CORP | Stock-Industrials | 0.54% | — | +1.88% | |
| 46 | NYT | New York Times Co-a | Stock-Comm Services | 0.54% | — | -10.67% | |
| 47 | V | Visa Inc-class A Shares | Stock-Financials | 0.53% | -0.32% | -33.27% | |
| 48 | DASH | Doordash INC - A | Stock-Consumer Disc | 0.53% | +0.45% | +813.79% | |
| 49 | NFLX | Netflix INC | Stock-Comm Services | 0.50% | +0.50% | NEW | |
| 50 | DHR | Danaher CORP | Stock-Healthcare | 0.49% | +0.32% | +217.30% |
Performance for Q3 2026
+3.5%
Performance Last 4 Quarters
+14.2%
Based on 75% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 643 | $145.2B | 43 | |
| 2025-12-31 | 901 | $158.4B | 32 | |
| 2025-09-30 | 879 | $163.6B | 53 | |
| 2025-06-30 | 684 | $158.4B | 0 | |
| 2025-03-31 | 657 | $151.2B | 0 | |
| 2024-12-31 | 633 | $162.1B | 0 | |
| 2024-09-30 | 622 | $165.8B | 0 | |
| 2024-06-30 | 620 | $158.4B | 0 | |
| 2024-03-31 | 620 | $163.4B | 0 | |
| 2023-12-31 | 596 | $153.8B | 0 | |
| 2023-09-30 | 571 | $141.5B | 0 | |
| 2023-06-30 | 566 | $146.8B | 0 | |
| 2023-03-31 | 544 | $139.5B | 0 | |
| 2022-12-31 | 541 | $130.3B | 0 | |
| 2022-09-30 | 541 | $125.2B | 0 |
T. Rowe Price Investment Management, Inc.'s most significant position changes for 2026-03-31: New buy: Ascendis Pharma A/s; Sold out: Kkr & Co INC (KKR); New buy: Netflix INC (NFLX); Sold out: Ccc Intelligent Solutions Ho (CCC); Sold out: Hologic INC (HO1).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | META | Meta Platforms Inc-class A | +1.5% | +135.69% | Add |
| 2 | AMZN | Amazon.com INC | +1% | +40.58% | Add |
| 3 | WAT | Waters CORP | +0.9% | +3366.74% | Add |
| 4 | ALNY | Alnylam Pharmaceuticals INC | +0.7% | +196.15% | Add |
| 5 | JPM | Jpmorgan Chase & Co | +0.5% | +1056.04% | Add |
| 6 | APGE | Apogee Therapeutics INC | +0.5% | +276.99% | Add |
| 7 | DASH | Doordash INC - A | +0.5% | +813.79% | Add |
| 8 | CNP | Centerpoint Energy INC | +0.4% | +1.73% | Add |
| 9 | USFD | US Foods Holding CORP | +0.3% | +866.59% | Add |
| 10 | DHR | Danaher CORP | +0.3% | +217.30% | Add |
| 11 | CGON | Cg Oncology INC | +0.3% | +1490.28% | Add |
| 12 | KYMR | Kymera Therapeutics INC | +0.3% | +767.81% | Add |
| 13 | PODD | Insulet CORP | +0.3% | +537101.78% | Add |
| 14 | SLB | Slb LTD | +0.2% | +468.64% | Add |
| 15 | MSFT | Microsoft CORP | 0% | +18.19% | Add |
| 16 | AAPL | Apple INC | -0.1% | -4.84% | Trim |
| 17 | PTC | Ptc INC | -0.2% | +3.94% | Add |
| 18 | MA | Mastercard INC - A | -0.2% | -17.38% | Trim |
| 19 | WDAY | Workday Inc-class A | -0.2% | -26.78% | Trim |
| 20 | SBUX | Starbucks CORP | -0.2% | -32.84% | Trim |
| 21 | UNH | Unitedhealth Group INC | -0.2% | -15.91% | Trim |
| 22 | TSM | Taiwan Semiconductor-sp Adr | -0.2% | -66.04% | Trim |
| 23 | ACLXGBX | Arcellx INC | -0.3% | -78.64% | Trim |
| 24 | CRM | Salesforce INC | -0.3% | -99.72% | Trim |
| 25 | V | Visa Inc-class A Shares | -0.3% | -33.27% | Trim |
| 26 | CNQ | Canadian Natural Resources | -0.3% | -64.20% | Trim |
| 27 | MCK | Mckesson CORP | -0.3% | -99.34% | Trim |
| 28 | PPL | Ppl CORP | -0.3% | -48.60% | Trim |
| 29 | SPGI | S&p Global INC | -0.4% | -76.74% | Trim |
| 30 | YUM | Yum! Brands INC | -0.4% | -35.70% | Trim |
| 31 | AEE | Ameren Corporation | -0.4% | -52.57% | Trim |
| 32 | TMO | Thermo Fisher Scientific INC | -0.4% | -89.72% | Trim |
| 33 | WTW | Willis Towers Watson Public Limited Company | -0.6% | -80.73% | Trim |
| 34 | BDX | Becton Dickinson And Co | -0.7% | -32.64% | Trim |
| 35 | AJG | Arthur J Gallagher & Co | -0.8% | -83.24% | Trim |
| 36 | APH | Amphenol Corp-cl A | -0.8% | -93.55% | Trim |
| 37 | NVDA | Nvidia CORP | -0.8% | -27.38% | Trim |
| 38 | GOOGL | Alphabet Inc-cl A | -1% | -35.70% | Trim |
| 39 | ABT | Abbott Laboratories | -1.2% | -84.55% | Trim |
| 40 | ✓ | Ascendis Pharma A/s | — | NEW | New buy |
| 41 | KKR | Kkr & Co INC | — | EXIT | Sold out |
| 42 | NFLX | Netflix INC | — | NEW | New buy |
| 43 | CCC | Ccc Intelligent Solutions Ho | — | EXIT | Sold out |
| 44 | HO1 | Hologic INC | — | EXIT | Sold out |
| 45 | PNFP | Pinnacle Financial Partners | — | NEW | New buy |
| 46 | ROP | Roper Technologies INC | — | EXIT | Sold out |
| 47 | PNW | Pinnacle Financial Partners, Inc. | — | EXIT | Sold out |
| 48 | ASND | Ascendis Pharma A/S | — | EXIT | Sold out |
| 49 | EXE | Expand Energy CORP | — | EXIT | Sold out |
| 50 | MASI* | Masimo CORP | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-15 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-19 | Amendment | View on EDGAR |
| 2025-12-31 | 2026-02-17 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-14 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-14 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-14 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-14 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-14 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-14 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-15 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-14 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-14 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-14 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-15 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-14 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-14 | 13F-HR | View on EDGAR |
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