T. Rowe Price U.S. Equity Research Fund
T. Rowe Price U.S. Equity Research Fund, Inc. · Series S000002071 · 5 share classes
data updated 2026-09-08
Fund profile
As filed in the prospectus · 2026 Q1
The fund seeks to provide long-term capital growth by investing primarily in U.S. common stocks.
The fund constructs a portfolio with sector and industry weights matching the S&P 500 Index while allowing individual stock weights within each industry to vary significantly from the Index. T. Rowe Price equity analysts select stocks within their areas of expertise, aiming to overweight stocks viewed favorably and underweight or avoid those viewed negatively relative to the Index. Because individual stock selections drive outperformance, the fund's returns will diverge from the Index based on how those selections perform.
| Share class | Gross | Net | As of |
|---|---|---|---|
| PRCOX | 0.45% | 0.45% | 2025 Q1 |
| PACOX | 0.83% | 0.83% | 2025 Q1 |
| RRCOX | 1.17% | 1.17% | 2025 Q1 |
| PCCOX | 0.34% | 0.34% | 2025 Q1 |
| PCUZX | 0.33% | 0.00% | 2025 Q1 |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 47.30% · as of 2026 Q1
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Stocks | 99.78% |
| Cash & short-term | 0.08% |
| Bonds | 0.06% |
| Derivatives | 0.00% |
Derivatives are shown at market value, not notional exposure.
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 |
|---|---|---|---|---|---|
| +30.50% | +83.29% | +88.69% | 13.92% | -7.97% | |
| +30.02% | +81.21% | +85.21% | 13.91% | -8.07% | |
| +29.59% | +79.41% | +82.45% | 13.90% | -8.14% | |
| +30.65% | +83.91% | +89.68% | 13.93% | -7.95% | |
| +31.09% | +85.76% | — | 13.93% | -7.89% |
These classes hold the same portfolio, so the 6.35pp spread over 3 years is the cost difference between them — roughly 2.12pp 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.
| Zero-coupon or unclassified | 100.0% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 100.0% |
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 |
|---|---|---|---|---|---|
| NVDA | NVIDIA CORPNVDA | 7.38% | $200.09 | $1.37B | 6.8M |
| AAPL | APPLE INCAAPL | 6.50% | $289.36 | $1.20B | 4.2M |
| MSFT | MICROSOFT CORPMSFT | 4.34% | $373.02 | $803.70M | 2.2M |
| AMZN | AMAZON.COM INCAMZN | 3.71% | $238.34 | $687.00M | 2.9M |
| GOOG | ALPHABET INC CL CGOOG | 3.37% | $353.33 | $624.78M | 1.8M |
| GOOGL | ALPHABET INC CL AGOOGL | 2.65% | $357.37 | $491.37M | 1.4M |
| AVGO | BROADCOM INCAVGO | 2.64% | $377.75 | $489.64M | 1.3M |
| MU | MICRON TECHNOLOGY INCMU | 2.04% | $1,154.29 | $378.79M | 328.2K |
| META | META PLATFORMS INC-CLASS AMETA | 2.03% | $563.29 | $375.91M | 667.3K |
| AMD | ADVANCED MICRO DEVICESAMD | 1.77% | $580.91 | $328.29M | 565.1K |
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 36.45% of net assets, top 25 51.67%, across 317 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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