T. Rowe Price Emerging Markets Discovery Stock Fund
T. ROWE PRICE INTERNATIONAL FUNDS, INC. · 4 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
T. Rowe Price Emerging Markets Discovery Stock Fund is an actively managed emerging-markets equity fund.
- Asset class
- Equity
- Region
- Emerging markets
- Management
- Actively managed
- Fund type
- Open-end fund
Fund profile
As filed in the prospectus · 2025 Q4
The fund seeks long-term growth of capital.
The fund invests at least 80% of assets in stocks of large-cap companies in emerging markets across Asia, Latin America, Europe, Africa, and the Middle East, selected through bottom-up fundamental research focused on companies whose stock prices appear low relative to assets or future prospects. The portfolio manager may limit exposure to markets or sectors with poor overall prospects, and the fund may at times hold a significant portion of assets in a single sector or country, particularly Asia and China. Because country allocation is driven largely by individual stock selection rather than a predetermined index, the fund's geographic and sector weightings may diverge materially from any benchmark.
Portfolio turnover 36.30% · as of 2025 Q4
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Stocks | 96.15% |
| Cash & short-term | 3.85% |
Latest quarter
What changed since the fund's previous filing
New: GLENCORE PLC, AIRPORTS OF THAILAND PCL-FOR, MEITUAN-CL B, VIVARA PARTICIPACOES SA, SAUDI AWWAL BANK, GAIL INDIA LTD
Exited: TRIP.COM GROUP LTD, SUNNY OPTICAL TECHNOLOGY GROUP CO LTD, BANCO DE CHILE, BANCO BTG PACTUAL SA-UNIT, KLABIN SA - UNIT, BANGKOK BANK PCL-FOREIGN REG
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 |
|---|---|---|---|---|---|
| +52.44% | +82.66% | +52.47% | 19.84% | -11.72% | |
| +51.78% | +80.18% | +49.20% | 19.84% | -11.79% | |
| +52.65% | +83.34% | +53.50% | 19.85% | -11.75% | |
| +54.18% | +88.78% | +61.46% | 19.91% | -11.48% |
These classes hold the same portfolio, so the 12.26pp spread over 5 years is the cost difference between them — roughly 2.45pp a year — not a difference in what they own.
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-04-30
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
This fund filed the credit-spread disclosure and reported no sensitivity — measured, and the answer is none.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.00 | +0.00 | +0.00 | $0 | $0 |
| 1 yr | +0.00 | +0.00 | +0.00 | $0 | $0 |
| 5 yr | +0.00 | +0.00 | +0.00 | $0 | $0 |
| 10 yr | +0.00 | +0.00 | +0.00 | $0 | $0 |
| 30 yr | +0.00 | +0.00 | +0.00 | $0 | $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 |
|---|---|---|---|---|---|
| — | TAIWAN SEMICONDUCTOR MANUFAC | 8.39% | $69.42 | $515.32M | 7.4M |
| — | SAMSUNG ELECTRONICS CO LTD | 8.05% | $150.59 | $493.86M | 3.3M |
| — | SK HYNIX INC | 4.93% | $891.77 | $302.56M | 339.3K |
| TRPGRIA | T. Rowe Price Government Reserve FundTRPGRIA | 3.66% | — | $224.56M | — |
| — | MEDIATEK INC | 3.21% | $83.48 | $196.77M | 2.4M |
| — | ALIBABA GROUP HOLDING LTD | 2.54% | $16.48 | $155.82M | 9.5M |
| — | ICICI BANK LTD | 2.12% | $13.42 | $130.33M | 9.7M |
| — | ASE TECHNOLOGY HOLDING CO LTD | 2.12% | $15.67 | $130.29M | 8.3M |
| — | THE SAUDI NATIONAL BANK | 2.00% | $10.48 | $122.87M | 11.7M |
| — | RELIANCE INDUSTRIES LIMITED | 1.97% | $15.17 | $121.03M | 8.0M |
Reported price is the fund's own reported value divided by its own reported shares at 2026-04-30 — not a live quote, and not what the fund paid.
Top 10 positions are 38.99% of net assets, top 25 65.15%, across 70 issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
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