T. Rowe Price Balanced Fund, Inc.
T. Rowe Price Balanced Fund, Inc. · 2 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
T. Rowe Price Balanced Fund, Inc. is an aggressive allocation fund.
- Asset class
- Allocation (multi-asset)
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Equity exposure
- Aggressive
Fund profile
As filed in the prospectus · 2026 Q1
The fund seeks to provide capital growth, current income, and preservation of capital through a portfolio of stocks and fixed income securities.
The fund maintains a balanced allocation of approximately 65% stocks and 35% fixed income, adjusting the mix based on economic outlook; it selects stocks by examining relative value across growth and value styles, market caps, and geographies, while bonds are chosen from investment-grade and lower-rated securities across government, corporate, and mortgage-backed markets, with duration and credit positioning guided by inflation, interest rate, and earnings forecasts. The fund gains additional exposure through investments in other T. Rowe Price mutual funds and exchange-traded funds. Because security selection depends on the adviser's assessment of value and economic conditions, portfolio composition may shift materially toward particular sectors or markets that appear attractive at any given time.
| Share class | Gross | Net | As of |
|---|---|---|---|
| RPBAX | 0.65% | 0.60% | 2025 Q1 |
| RBAIX | 0.52% | 0.47% | 2025 Q1 |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 43.70% · as of 2026 Q1
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Stocks | 65.50% |
| Bonds | 22.76% |
| Securitized | 10.99% |
| Cash & short-term | 1.47% |
| 2 smaller | 0.15% |
Look-through blends 4 underlying funds; 0.0% of NAV was not looked through and stays direct-classified.
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| International | 20.2% |
| Information Technology | 15.2% |
| Other | 11.4% |
| Securitized | 10.9% |
| 12 smaller | 42.3% |
Government, Securitized and Cash are non-corporate buckets; International is foreign holdings we don’t sector-classify, and Other is the residual (held funds, unresolved names).
Latest quarter
What changed since the fund's previous filing
Largest new: MRVL, BRITISH AMERICAN TOBACCO PLC, SOFTBANK GROUP CORP, FNMA 30 YR TBA JUL ×2, GNMA II TBA JUL, QCOM, MURATA MANUFACTURING CO LTD
Largest exited: US TREASURY N/B ×3, FNMA 30 YR TBA APR ×2, GNMA II TBA APR, MITSUBISHI ESTATE CO LTD, RENESAS ELECTRONICS CORP
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +19.73% | +48.70% | +40.61% | 8.86% | -7.08% | |
| +19.91% | +49.31% | +41.54% | 8.82% | -7.06% |
These classes hold the same portfolio, so the 0.93pp spread over 5 years is the cost difference between them — roughly 0.19pp a year — not a difference in what they own.
May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-06-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 86.9% |
| Floating rate | 13.1% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 3.3% |
| 1-3y | 11.6% |
| 3-5y | 17.1% |
| 5-10y | 20.4% |
| 10y+ | 47.6% |
These three overlap — one holding can be in arrears and paying in kind at once — so they are shown separately and never summed.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
Most of this fund’s sensitivity is to interest rates, with credit spreads carrying about half as much.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Interest rates | 63% |
| Credit spreads | 37% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| Investment grade | +1.02 yr |
| High yield | +0.00 yr |
Share of duration at each point, shortest first. This filer signs its rate and credit disclosures differently; the direction shown follows its interest-rate filing, and a negative reading is the least-supported figure here.
| 3 mo | 0.00 yr | 0% |
| 1 yr | 0.13 yr | 7% |
| 5 yr | 0.52 yr | 30% |
| 10 yr | 0.64 yr | 37% |
| 30 yr | 0.43 yr | 25% |
| 3 mo | 0.00 yr | 0% |
| 1 yr | 0.09 yr | 9% |
| 5 yr | 0.45 yr | 44% |
| 10 yr | 0.40 yr | 39% |
| 30 yr | 0.08 yr | 8% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.00 | +0.00 | +0.00 | $1.5k | $147 |
| 1 yr | +0.13 | +0.09 | +0.00 | $46.8k | $464 |
| 5 yr | +0.52 | +0.45 | +0.00 | $236.1k | $524 |
| 10 yr | +0.64 | +0.40 | +0.00 | $209.8k | $0 |
| 30 yr | +0.43 | +0.08 | +0.00 | $43.0k | $0 |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Reported price | Value | Shares |
|---|---|---|---|---|---|
| PRIKX | T ROWE PR REAL ASSETS-IPRIKX | 3.94% | $18.88 | $207.96M | 11.0M |
| TRHYX | TRP INST HIGH YIELD FUNDTRHYX | 3.75% | $7.85 | $197.70M | 25.2M |
| NVDA | NVIDIA CORPNVDA | 3.32% | $200.09 | $175.32M | 876.2K |
| AAPL | APPLE INCAAPL | 2.29% | $289.36 | $120.77M | 417.4K |
| AMZN | AMAZON.COM INCAMZN | 1.80% | $238.34 | $95.02M | 398.7K |
| MSFT | MICROSOFT CORPMSFT | 1.72% | $373.02 | $90.84M | 243.5K |
| GOOG | ALPHABET INC CL CGOOG | 1.41% | $353.33 | $74.14M | 209.8K |
| AVGO | BROADCOM INCAVGO | 1.34% | $377.75 | $70.66M | 187.1K |
| GOOGL | ALPHABET INC CL AGOOGL | 1.22% | $357.37 | $64.22M | 179.7K |
| TRPGRIA | T. Rowe Price Government Reserve FundTRPGRIA | 0.87% | — | $45.85M | — |
Reported price is the fund's own reported value divided by its own reported shares at 2026-06-30 — not a live quote, and not what the fund paid.
Top 10 positions are 21.65% of net assets, top 25 30.95%, across 1.0K issuers.
See more of this fund's book
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