T. Rowe Price Spectrum Conservative Allocation Fund
Actively managed U.S. stock fund
As of its 2026 Q2 report, T. Rowe Price Spectrum Conservative Allocation Fund held 2,020 positions with $2.07B in net assets. Its ten largest holdings made up 43.9% of the fund. Over the 12 months to May 2026, PRSIX returned 14.5%, with dividends reinvested. In 2026 Q2 it added 372 new positions and exited 236.
The fund seeks the highest total return over time consistent with a primary emphasis on income and a secondary emphasis on capital growth.
The fund allocates across stocks, bonds, and alternative investments—typically 40%, 48%, and 12% respectively—with the adviser shifting weights based on economic outlook and adjusting duration and credit exposure within bonds based on inflation, rates, and valuation. Up to 40% of assets may be invested in foreign securities across developed and emerging markets. The fund uses derivatives including index options, futures, and credit default swaps to manage exposure, enhance returns, and hedge risk. Because the fund's tactical allocation and security selection depend on the adviser's economic and market forecasts, performance will diverge from any benchmark reflecting different allocations or holdings.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
BLACKSTONE PARTNERS OFFSHORE FD-E1 | 8.04% | $166.21M | 54.2K | $3,064.88 |
TNBMXTRP INTL BOND FD (USD HEDGED) - I | 7.15% | $147.74M | 17.3M | $8.52 |
PRXIXTRP EMER MKTS BND FD-I | 5.75% | $118.94M | 12.0M | $9.89 |
TRP DYNAMIC GLOBAL BOND FD-I | 5.35% | $110.60M | 14.5M | $7.62 |
TRHYXTRP INST HIGH YIELD FUND | 4.70% | $97.11M | 12.3M | $7.89 |
TRP INST EMERGING MARKETS EQUITY FUND | 3.71% | $76.72M | 1.5M | $51.63 |
TRPGRIAT. Rowe Price Government Reserve Fund | 2.98% | $61.50M | — | — |
PRIKXT ROWE PR REAL ASSETS-I | 2.57% | $53.03M | 2.7M | $19.89 |
NVDANVIDIA CORP | 1.87% | $38.65M | 183.1K | $211.14 |
TRP INST FLOATING RATE FUND | 1.74% | $35.88M | 3.9M | $9.30 |
Reported price is the fund's own reported value divided by its own reported shares at 2026-05-31 — not a live quote, and not what the fund paid.
The 200 largest of 2,020 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Stocks | 48.88% |
| Bonds | 36.28% |
| Securitized | 9.05% |
| Cash & short-term | 4.58% |
| 2 smaller | 2.08% |
Look-through blends 10 underlying funds; 0.0% of NAV was not looked through and stays direct-classified.
By sector
- Other
- 42.8%
- International
- 9.6%
- Securitized
- 8.8%
- Information Technology
- 8.5%
- 12 other sectors
- 30.3%
- Other
- 42.8%
- International
- 9.6%
- Securitized
- 8.8%
- Information Technology
- 8.5%
- Government
- 7.5%
- Financials
- 4.1%
- Cash
- 3.1%
- Health Care
- 3.0%
- Communication Services
- 3.0%
- Industrials
- 2.9%
- Consumer Discretionary
- 2.8%
- Energy
- 1.1%
- Utilities
- 0.9%
- Consumer Staples
- 0.8%
- Real Estate
- 0.6%
- Materials
- 0.5%
How it has done
PRSIX share class · total returns with dividends reinvested
Volatility over the last 12 months: 6.31%. Past returns are a record, not a forecast.
The 2 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| — | +14.50% | +38.01% | +26.63% | -4.89% | |
| — | +14.70% | +38.64% | +27.46% | -4.86% |
These classes hold the same portfolio, so the 0.83pp spread over 5 years is the cost difference between them — roughly 0.17pp a year — not a difference in what they own.
Fees & fund details
T. Rowe Price Spectrum Conservative Allocation Fund is an actively managed U.S. equity fund.
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Portfolio turnover
- 45.30% a year · as of 2025 Q3
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
372 new· the largest 4
236 exited· the largest 4
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-05-31
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 | 85.5% |
| Floating rate | 14.5% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 0.8% |
| 1-3y | 5.1% |
| 3-5y | 20.0% |
| 5-10y | 21.0% |
| 10y+ | 53.1% |
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 | 62% |
| Credit spreads | 38% |
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 | +0.76 yr |
| High yield | +0.01 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 | 0.10 yr | 8% |
| 5 yr | 0.38 yr | 30% |
| 10 yr | 0.45 yr | 35% |
| 30 yr | 0.34 yr | 27% |
| 3 mo | 0.00 yr | 0% |
| 1 yr | 0.06 yr | 8% |
| 5 yr | 0.34 yr | 44% |
| 10 yr | 0.28 yr | 36% |
| 30 yr | 0.09 yr | 12% |
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 | $283 | $52 |
| 1 yr | +0.10 | +0.06 | +0.00 | $12.4k | $215 |
| 5 yr | +0.38 | +0.33 | +0.00 | $69.0k | $627 |
| 10 yr | +0.45 | +0.27 | +0.00 | $56.5k | $306 |
| 30 yr | +0.34 | +0.09 | +0.00 | $19.2k | $132 |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Understand how this fund fits with the rest.
Explore shared holdings, compare funds and follow their businesses with your connected AI:
- “Where do my funds overlap — PRSIX, QQQ and the fund in my 401(k)?”
- “How do this fund’s ten biggest holdings stack up against each other?”
- “For my target-date fund, what’s the real stock-and-bond mix once you look through it?”