T. Rowe Price Spectrum Moderate Growth 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 Growth 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 a primary emphasis on capital growth and a secondary emphasis on income.
The fund allocates across stocks (typically 80%), bonds and cash (16%), and alternative investments (4%), with the adviser overweighting or underweighting asset classes based on economic outlook and tactical opportunities. Stock selection emphasizes relative value across growth and value styles, market capitalizations, geographies, and real assets; bond selection reflects views on inflation, interest rates, credit quality, and currency movements. The fund may use derivatives including options, futures, and credit default swaps to adjust exposure, manage duration, and enhance returns. Because the adviser's tactical allocation decisions and security selections drive performance, results will diverge from any benchmark.
Portfolio turnover 44.60% · as of 2025 Q3
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Stocks | 83.74% |
| Bonds | 11.39% |
| Securitized | 3.08% |
| Cash & short-term | 1.89% |
| 2 smaller | 0.45% |
Look-through blends 9 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 | 24.9% |
| International | 17.8% |
| Information Technology | 16.0% |
| Financials | 6.7% |
| 12 smaller | 34.6% |
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: ROCHE HOLDING AG, APH, EMR, US TREASURY N/B, SOFTBANK GROUP CORP, CVS, AMGN, BRITISH AMERICAN TOBACCO PLC
Largest exited: ROCHE HOLDING AG-GENUSSCHEIN, ELV, MITSUBISHI ESTATE CO LTD, SKANDINAVISKA ENSKILDA BAN-A, INTESA SANPAOLO, RENESAS ELECTRONICS CORP, SK SQUARE CO LTD, AVIVA PLC
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 |
|---|---|---|---|---|---|
| +24.23% | +54.80% | +39.74% | 10.56% | -7.75% | |
| +24.43% | +55.51% | +40.74% | 10.57% | -7.73% |
These classes hold the same portfolio, so the 0.99pp spread over 5 years is the cost difference between them — roughly 0.20pp 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 | 85.4% |
| Floating rate | 14.6% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 0.6% |
| 1-3y | 8.4% |
| 3-5y | 14.8% |
| 5-10y | 23.4% |
| 10y+ | 52.9% |
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 |
|---|---|---|---|---|---|
| — | TRP INST EMERGING MARKETS EQUITY FUND | 7.45% | $51.63 | $322.31M | 6.2M |
| PRIKX | T ROWE PR REAL ASSETS-IPRIKX | 4.98% | $19.89 | $215.47M | 10.8M |
| — | BLACKSTONE PARTNERS OFFSHORE FD-E1 | 3.90% | $3,064.88 | $168.86M | 55.1K |
| NVDA | NVIDIA CORPNVDA | 3.57% | $211.14 | $154.53M | 731.9K |
| AAPL | APPLE INCAAPL | 2.67% | $312.06 | $115.62M | 370.5K |
| TNBMX | TRP INTL BOND FD (USD HEDGED) - ITNBMX | 2.49% | $8.52 | $107.65M | 12.6M |
| MSFT | MICROSOFT CORPMSFT | 2.34% | $450.24 | $101.04M | 224.4K |
| GOOG | ALPHABET INC CL CGOOG | 2.27% | $376.43 | $98.11M | 260.6K |
| AMZN | AMAZON.COM INCAMZN | 1.98% | $270.64 | $85.41M | 315.6K |
| PRUUX | TRP US TREASURY LONG-TERM INDEX FD-IPRUUX | 1.75% | $7.03 | $75.77M | 10.8M |
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 33.41% of net assets, top 25 45.51%, 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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