T. Rowe Price Spectrum Moderate Allocation Fund
T. ROWE PRICE SPECTRUM FUNDS II, INC. · 2 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
T. Rowe Price Spectrum Moderate Allocation Fund is an actively managed U.S. equity fund.
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
Fund profile
As filed in the prospectus · 2025 Q3
The fund seeks the highest total return over time consistent with an emphasis on both capital growth and income.
The fund allocates across stocks (50–70%), bonds and cash (20–45%), and alternative investments (0–15%), with up to 40% in foreign securities, adjusting weightings based on the adviser's outlook for economic growth and market conditions. The adviser selects individual stocks by comparing value and growth characteristics across market caps and geographies, and bonds by assessing duration, credit risk, and sector opportunities in light of inflation and interest rate expectations; it may also write call options on indexes to enhance risk-adjusted returns. Because the fund shifts its asset-class and sector positioning tactically according to the adviser's economic forecasts, its returns will diverge from any fixed benchmark.
Portfolio turnover 45.00% · as of 2025 Q3
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Stocks | 66.52% |
| Bonds | 24.70% |
| Securitized | 6.11% |
| Cash & short-term | 2.23% |
| 2 smaller | 1.23% |
Look-through blends 10 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
| Other | 34.9% |
| International | 13.8% |
| Information Technology | 12.4% |
| Securitized | 5.9% |
| 12 smaller | 33.0% |
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
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 |
|---|---|---|---|---|---|
| +19.50% | +44.09% | +31.68% | 8.47% | -6.57% | |
| +19.61% | +44.65% | +32.51% | 8.47% | -6.55% |
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.
May 2026 has been filed since the trailing figures were struck, so it is 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 2026-05-31
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 | 85.6% |
| Floating rate | 14.4% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 0.7% |
| 1-3y | 6.8% |
| 3-5y | 18.7% |
| 5-10y | 20.1% |
| 10y+ | 53.7% |
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
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 |
|---|---|---|---|---|---|
| — | BLACKSTONE PARTNERS OFFSHORE FD-E1 | 6.03% | $3,064.88 | $127.94M | 41.7K |
| — | TRP INST EMERGING MARKETS EQUITY FUND | 5.54% | $51.63 | $117.48M | 2.3M |
| TNBMX | TRP INTL BOND FD (USD HEDGED) - ITNBMX | 4.73% | $8.52 | $100.38M | 11.8M |
| — | TRP DYNAMIC GLOBAL BOND FD-I | 3.85% | $7.62 | $81.77M | 10.7M |
| PRIKX | T ROWE PR REAL ASSETS-IPRIKX | 3.78% | $19.89 | $80.12M | 4.0M |
| PRXIX | TRP EMER MKTS BND FD-IPRXIX | 3.15% | $9.89 | $66.77M | 6.8M |
| NVDA | NVIDIA CORPNVDA | 2.79% | $211.14 | $59.14M | 280.1K |
| TRHYX | TRP INST HIGH YIELD FUNDTRHYX | 2.61% | $7.89 | $55.30M | 7.0M |
| AAPL | APPLE INCAAPL | 2.07% | $312.06 | $43.95M | 140.8K |
| PRUUX | TRP US TREASURY LONG-TERM INDEX FD-IPRUUX | 2.06% | $7.03 | $43.62M | 6.2M |
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.
Top 10 positions are 36.60% of net assets, top 25 49.91%, across 1.2K 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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