T. Rowe Price Investment Management, Inc.
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), T. Rowe Price Investment Management, Inc. reported 878 stock positions worth $163.5 billion. Its top holding was Microsoft (MSFT) at 3.9% of the portfolio, followed by Nvidia (NVDA, 3.5%) and Apple (AAPL, 3.0%). Compared with Q2 2025, it opened 255 new positions, sold out of 60, added to 274 and reduced 348. The biggest buy was Apple (AAPL, shares +155%) and the biggest sale Roper Technologies (ROP, shares −44%).
- Most Recent 13F
- Q2 2026
- Location
- BALTIMORE, MD
- CIK
- 0001897612
- Portfolio Value
- $163.5B (Q3 2025)
- SEC Filing
- 0001897612-25-000511 ↗ filed Nov 14, 2025
Holdings Value
Holdings 878 stocks · $163.5B
| MSFT Microsoft Corp. | 3.87% | 12,212,128 | $6.3B | Reduce -14.2% |
| NVDA Nvidia Corp. | 3.45% | 30,278,231 | $5.6B | Add +24.0% |
| AAPL Apple Inc. | 3.01% | 19,334,523 | $4.9B | Add +155.5% |
| AMZN Amazon.com Inc. | 2.85% | 21,191,388 | $4.7B | Add +3.0% |
| PTC PTC Inc. | 2.21% | 17,781,388 | $3.6B | Reduce -12.7% |
| BDX Becton Dickinson and Co. | 1.86% | 16,232,632 | $3.0B | Add +0.3% |
| META Meta Platforms Inc. Class A | 1.51% | 3,362,561 | $2.5B | Add +26.5% |
| YUM Yum! Brands Inc. | 1.46% | 15,708,068 | $2.4B | Add +45.7% |
| ABT Abbott Laboratories | 1.46% | 17,769,095 | $2.4B | Add +112.4% |
| GOOGL Alphabet Inc. Class A | 1.40% | 9,423,380 | $2.3B | Add +4.2% |
| CNP Centerpoint Energy Inc. | 1.22% | 51,492,155 | $2.0B | Add +7.6% |
| RVTY Revvity Inc. | 1.21% | 22,501,240 | $2.0B | Reduce -0.6% |
| NI Nisource Inc. | 1.15% | 43,264,030 | $1.9B | Add +6.3% |
| AMD Advanced Micro Devices | 1.00% | 10,134,961 | $1.6B | Reduce -21.8% |
| AEE Ameren Corporation | 0.99% | 15,523,424 | $1.6B | Add +8.1% |
| LSCC Lattice Semiconductor Corp. | 0.93% | 20,796,399 | $1.5B | Reduce -8.4% |
| IR Ingersoll-Rand Inc. | 0.93% | 18,367,808 | $1.5B | Add +4.2% |
| APH Amphenol Corp. Class A | 0.92% | 12,203,497 | $1.5B | Reduce -43.8% |
| HOLX Hologic Inc. | 0.89% | 21,549,648 | $1.5B | Reduce -10.5% |
| ROP Roper Technologies Inc. | 0.88% | 2,895,799 | $1.4B | Reduce -43.9% |
| AUR Aurora Innovation Inc. | 0.85% | 257,876,168 | $1.4B | Add +21.7% |
| PPL PPL Corp. | 0.82% | 35,967,694 | $1.3B | New |
| CNQ Canadian Natural Resources | 0.81% | 41,359,027 | $1.3B | Reduce -15.5% |
| DHR Danaher Corp. | 0.80% | 6,574,337 | $1.3B | Reduce -5.5% |
| MCK McKesson Corp. | 0.76% | 1,600,307 | $1.2B | Reduce -10.4% |
| V Visa Inc. Class A | 0.75% | 3,603,835 | $1.2B | Add +104.1% |
| HLT Hilton Worldwide Holdings Inc. | 0.72% | 4,535,244 | $1.2B | Reduce -26.7% |
| VEEV Veeva Systems Inc. Class A | 0.71% | 3,904,655 | $1.2B | Reduce -11.9% |
| FTI Technipfmc PLC | 0.70% | 29,062,796 | $1.1B | Reduce -16.1% |
| MA Mastercard Inc. Class A | 0.67% | 1,918,451 | $1.1B | Add +146.0% |
| CI The Cigna Group | 0.66% | 3,741,844 | $1.1B | Add +167.3% |
| CYTK Cytokinetics Inc. | 0.64% | 19,080,496 | $1.0B | Add +8.4% |
| AVGO Broadcom Inc. | 0.64% | 3,178,242 | $1.0B | Add +65647.7% |
| A Agilent Technologies Inc. | 0.64% | 8,148,047 | $1.0B | Reduce -0.2% |
| SBUX Starbucks Corp. | 0.61% | 11,722,307 | $991.7M | Add +11.0% |
| ALNY Alnylam Pharmaceuticals Inc. | 0.61% | 2,173,984 | $991.3M | Reduce -49.2% |
| WTW Willis Towers Watson PLC | 0.60% | 2,840,993 | $981.4M | Add +51.5% |
| WDAY Workday Inc. Class A | 0.60% | 4,047,252 | $974.3M | Reduce -24.7% |
| TYL Tyler Technologies Inc. | 0.59% | 1,843,690 | $964.5M | Add +10.9% |
| LLYVK Liberty Media Corp.-Liberty-C | 0.58% | 9,764,080 | $946.8M | Add +8.8% |
| PLNT Planet Fitness Inc. Class A | 0.58% | 9,086,670 | $943.2M | Add +2.4% |
| FWONK Liberty Media Corp. Class C | 0.55% | 8,586,261 | $896.8M | Add +3.1% |
| ESAB Esab Corp. | 0.54% | 7,960,397 | $889.5M | Add +0.5% |
| DTE DTE Energy Company | 0.53% | 6,166,539 | $872.1M | Add +63.8% |
| DPZ Domino's Pizza Inc. | 0.53% | 2,000,781 | $863.8M | Add +3.4% |
| IONS Ionis Pharmaceuticals Inc. | 0.53% | 13,156,929 | $860.7M | Reduce -18.0% |
| MTD Mettler-Toledo International | 0.52% | 688,408 | $845.1M | Add +25.4% |
| AIZ Assurant Inc. | 0.51% | 3,860,539 | $836.2M | Reduce -3.5% |
| LLY Eli Lilly & Co. | 0.51% | 1,094,696 | $835.3M | Add +9.4% |
| LNG Cheniere Energy Inc. | 0.50% | 3,503,744 | $823.3M | Reduce -14.9% |
| AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO | 0.50% | 2,634,040 | $815.9M | Add +1806.5% |
| COR Cencora Inc. | 0.49% | 2,576,296 | $805.2M | Add +327.4% |
| CMG Chipotle Mexican Grill Inc. | 0.49% | 20,370,684 | $798.3M | Add +10356.6% |
| DLTR Dollar Tree Inc. | 0.48% | 8,348,204 | $787.8M | Add +3.8% |
| VIK Viking Holdings Ltd. | 0.48% | 12,588,445 | $782.5M | Reduce -0.2% |
| VLTO Veralto Corp. | 0.45% | 6,898,249 | $735.4M | Reduce -14.1% |
| MSCI MSCI Inc. | 0.44% | 1,277,886 | $725.1M | Add +33.3% |
| DKNG Draftkings Inc. Class A | 0.43% | 18,865,763 | $705.6M | Reduce -0.2% |
| TXT Textron Inc. | 0.42% | 8,210,360 | $693.7M | Reduce -28.8% |
| MPWR Monolithic Power Systems Inc. | 0.42% | 750,688 | $691.1M | Reduce -19.1% |
| MTSI Macom Technology Solutions H | 0.42% | 5,473,931 | $681.5M | Add +98.9% |
| ZS Zscaler Inc. | 0.41% | 2,257,500 | $676.5M | Reduce -0.9% |
| COO The Cooper Cos Inc. | 0.41% | 9,826,604 | $673.7M | Add +33.2% |
| MLM Martin Marietta Materials | 0.41% | 1,053,662 | $664.1M | Reduce -7.7% |
| ELAN Elanco Animal Health Inc. | 0.39% | 31,510,014 | $634.6M | Add +61.1% |
| RJF Raymond James Financial Inc. | 0.38% | 3,643,236 | $628.8M | Reduce -12.9% |
| BURL Burlington Stores Inc. | 0.38% | 2,442,262 | $621.6M | Reduce -1.1% |
| FERG Ferguson Enterprises Inc. | 0.38% | 2,748,415 | $617.2M | Reduce -49.5% |
| NYT New York Times Co. Class A | 0.38% | 10,713,348 | $614.9M | Add +2.0% |
| ROST Ross Stores Inc. | 0.38% | 4,025,039 | $613.4M | Reduce -23.5% |
| MCHP Microchip Technology Inc. | 0.37% | 9,477,303 | $608.6M | Reduce -25.0% |
| CCC CCC Intelligent Solutions Ho | 0.37% | 66,772,663 | $608.3M | Add +3.0% |
| PCTY Paylocity Holding Corp. | 0.37% | 3,789,517 | $603.6M | Reduce -7.9% |
| P Everpure Inc. Class A filed as PURE STORAGE INC | 0.36% | 7,088,905 | $594.1M | Reduce -21.7% |
| TRU Transunion | 0.36% | 7,055,464 | $591.1M | Add +34.4% |
| UNH Unitedhealth Group Inc. | 0.36% | 1,698,901 | $586.6M | Reduce -24.3% |
| KEYS Keysight Technologies Inc. | 0.36% | 3,349,131 | $585.8M | Reduce -0.2% |
| CBOE Cboe Global Markets Inc. | 0.36% | 2,380,317 | $583.8M | Reduce -23.0% |
| TFX Teleflex Inc. | 0.34% | 4,569,043 | $559.1M | Reduce -23.1% |
| BWXT BWX Technologies Inc. | 0.34% | 2,996,364 | $552.4M | Reduce -34.3% |
| VMC Vulcan Materials Co. | 0.34% | 1,795,555 | $552.3M | Reduce -16.4% |
| CASY Casey's General Stores Inc. | 0.33% | 943,646 | $533.5M | Reduce -25.4% |
| AVY Avery Dennison Corp. | 0.33% | 3,289,303 | $533.4M | Reduce -7.9% |
| ULTA Ulta Beauty Inc. | 0.32% | 971,760 | $531.3M | Add +11.4% |
| ASND Ascendis Pharma A/S | 0.32% | 2,666,618 | $530.2M | Reduce -25.6% |
| ACLX Arcellx Inc. | 0.32% | 6,352,356 | $521.5M | Add +226.8% |
| EQT Eqt Corp. | 0.31% | 9,446,459 | $514.2M | Reduce -12.4% |
| MIR Mirion Technologies Inc. | 0.31% | 21,566,642 | $501.6M | Add +2.9% |
| BIRK Birkenstock Holding PLC | 0.29% | 10,621,613 | $480.6M | Add +27.0% |
| BNTX Biontech SE-ADR | 0.29% | 4,833,642 | $476.7M | Add +34.3% |
| EXE Expand Energy Corp. | 0.29% | 4,448,935 | $472.7M | Reduce -21.4% |
| BAH Booz Allen Hamilton Holdings | 0.29% | 4,716,320 | $471.4M | Add +105.4% |
| ODFL Old Dominion Freight Line | 0.29% | 3,315,295 | $466.7M | Add +12.6% |
| PFSI Pennymac Financial Services | 0.28% | 3,742,090 | $463.6M | Reduce -15.3% |
| RDDT Reddit Inc. Class A | 0.28% | 2,003,042 | $460.7M | Reduce -30.0% |
| EFX Equifax Inc. | 0.28% | 1,756,609 | $450.6M | Reduce -12.2% |
| COLB Columbia Banking System Inc. | 0.27% | 17,380,955 | $447.4M | Add +31.2% |
| LMT Lockheed Martin Corp. | 0.26% | 863,195 | $430.9M | Add +105.1% |
| VSEC Vse Corp. | 0.26% | 2,513,372 | $417.8M | Reduce -3.6% |
| DUOL Duolingo | 0.25% | 1,283,950 | $413.2M | Add +55.6% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $548K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| BRUKER CORP (BRKR 6.375 09/01/28) | 6.375 PREF SER A · principal | 201,603 | $548K | New |
Total filed on the 13F, all lines: $163.5B.
Portfolio Sells Q2 2025 → Q3 2025
| ROP Roper Technologies Inc. | Reduce -43.9% | 0.88% | −0.96 |
| ADSK Autodesk Inc. | Reduce -99.1% | 0.01% | −0.65 |
| MSFT Microsoft Corp. | Reduce -14.2% | 3.87% | −0.60 |
| INTU Intuit Inc. | Reduce -73.0% | 0.16% | −0.56 |
| APH Amphenol Corp. Class A | Reduce -43.8% | 0.92% | −0.43 |
| FTV Fortive Corp. | Reduce -75.4% | 0.12% | −0.41 |
| RTX RTX Corp. | Sold out | 0.00% | −0.40 |
| FERG Ferguson Enterprises Inc. | Reduce -49.5% | 0.38% | −0.37 |
| IT Gartner Inc. | Reduce -100.0% | 0.00% | −0.32 |
| HLT Hilton Worldwide Holdings Inc. | Reduce -26.7% | 0.72% | −0.32 |
| ALNY Alnylam Pharmaceuticals Inc. | Reduce -49.2% | 0.61% | −0.28 |
| FICO Fair Isaac Corp. | Reduce -100.0% | 0.00% | −0.26 |
| ADI Analog Devices Inc. | Reduce -99.8% | 0.00% | −0.25 |
| AVTR Avantor Inc. | Reduce -41.7% | 0.25% | −0.23 |
| WDAY Workday Inc. Class A | Reduce -24.7% | 0.60% | −0.22 |
| BR Broadridge Financial Solutio | Reduce -57.9% | 0.14% | −0.21 |
| TTD Trade Desk Inc./the Class A | Reduce -33.3% | 0.16% | −0.20 |
| MCHP Microchip Technology Inc. | Reduce -25.0% | 0.37% | −0.19 |
| MKTX Marketaxess Holdings Inc. | Reduce -41.2% | 0.15% | −0.18 |
| VRSK Verisk Analytics Inc. | Sold out | 0.00% | −0.18 |
| BALL Ball Corp. | Reduce -37.1% | 0.21% | −0.18 |
| RVTY Revvity Inc. | Reduce -0.6% | 1.21% | −0.18 |
| BRKR Bruker Corp. | Reduce -44.2% | 0.13% | −0.17 |
| LULU Lululemon Athletica Inc. | Sold out | 0.00% | −0.17 |
| CRM Salesforce Inc. | Reduce -35.6% | 0.19% | −0.16 |
| CNQ Canadian Natural Resources | Reduce -15.5% | 0.81% | −0.16 |
| TXT Textron Inc. | Reduce -28.8% | 0.42% | −0.16 |
| TOST Toast Inc. Class A | Reduce -24.9% | 0.24% | −0.16 |
| AMD Advanced Micro Devices | Reduce -21.8% | 1.00% | −0.16 |
| CSGP Costar Group Inc. | Reduce -45.9% | 0.18% | −0.15 |
| ASML ASML Holding NV-NY Reg SHS | Reduce -99.8% | 0.00% | −0.15 |
| ABBV Abbvie Inc. | Reduce -98.4% | 0.00% | −0.13 |
| LNG Cheniere Energy Inc. | Reduce -14.9% | 0.50% | −0.13 |
| EXE Expand Energy Corp. | Reduce -21.4% | 0.29% | −0.13 |
| TXNM TXNM Energy Inc. | Reduce -78.4% | 0.03% | −0.12 |
| NOC Northrop Grumman Corp. | Reduce -99.5% | 0.00% | −0.12 |
| MS Morgan Stanley | Reduce -99.3% | 0.00% | −0.12 |
| JBHT Hunt (jb) Transprt SVCS Inc. | Reduce -52.9% | 0.09% | −0.12 |
| TDY Teledyne Technologies Inc. | Reduce -62.6% | 0.08% | −0.12 |
| ALC Alcon Inc. | Reduce -17.1% | 0.22% | −0.11 |
| ZM Zoom Communications Inc. | Reduce -34.0% | 0.22% | −0.10 |
| TFX Teleflex Inc. | Reduce -23.1% | 0.34% | −0.10 |
| IEX Idex Corp. | Reduce -57.2% | 0.06% | −0.10 |
| PCTY Paylocity Holding Corp. | Reduce -7.9% | 0.37% | −0.10 |
| HOLX Hologic Inc. | Reduce -10.5% | 0.89% | −0.10 |
| CBOE Cboe Global Markets Inc. | Reduce -23.0% | 0.36% | −0.10 |
| AXS Axis Capital Holdings Ltd. | Reduce -36.8% | 0.12% | −0.10 |
| VEEV Veeva Systems Inc. Class A | Reduce -11.9% | 0.71% | −0.09 |
| WM Waste Management Inc. | Reduce -97.7% | 0.00% | −0.09 |
| PEP Pepsico Inc. | Reduce -98.3% | 0.00% | −0.09 |
Portfolio Buys Q2 2025 → Q3 2025
| AAPL Apple Inc. | Add +155.5% | 3.01% | +2.03 |
| NVDA Nvidia Corp. | Add +24.0% | 3.45% | +1.02 |
| PPL PPL Corp. | New | 0.82% | +0.82 |
| ABT Abbott Laboratories | Add +112.4% | 1.46% | +0.74 |
| AVGO Broadcom Inc. | Add +65647.7% | 0.64% | +0.64 |
| CMG Chipotle Mexican Grill Inc. | Add +10356.6% | 0.49% | +0.48 |
| AJG Arthur J Gallagher & Co. | Add +1806.5% | 0.50% | +0.47 |
| YUM Yum! Brands Inc. | Add +45.7% | 1.46% | +0.45 |
| GOOGL Alphabet Inc. Class A | Add +4.2% | 1.40% | +0.39 |
| MA Mastercard Inc. Class A | Add +146.0% | 0.67% | +0.39 |
| COR Cencora Inc. | Add +327.4% | 0.49% | +0.38 |
| CI The Cigna Group | Add +167.3% | 0.66% | +0.37 |
| V Visa Inc. Class A | Add +104.1% | 0.75% | +0.36 |
| CYTK Cytokinetics Inc. | Add +8.4% | 0.64% | +0.27 |
| META Meta Platforms Inc. Class A | Add +26.5% | 1.51% | +0.27 |
| ACLX Arcellx Inc. | Add +226.8% | 0.32% | +0.24 |
| WTW Willis Towers Watson PLC | Add +51.5% | 0.60% | +0.24 |
| DTE DTE Energy Company | Add +63.8% | 0.53% | +0.22 |
| ELAN Elanco Animal Health Inc. | Add +61.1% | 0.39% | +0.21 |
| OTIS Otis Worldwide Corp. | Add +18754.0% | 0.17% | +0.17 |
| MTSI Macom Technology Solutions H | Add +98.9% | 0.42% | +0.17 |
| WH Wyndham Hotels & Resorts Inc. | Add +216.8% | 0.23% | +0.15 |
| AUR Aurora Innovation Inc. | Add +21.7% | 0.85% | +0.15 |
| LMT Lockheed Martin Corp. | Add +105.1% | 0.26% | +0.14 |
| BAH Booz Allen Hamilton Holdings | Add +105.4% | 0.29% | +0.14 |
| TSM Taiwan Semiconductor-SP ADR | New | 0.13% | +0.13 |
| TER Teradyne Inc. | New | 0.12% | +0.12 |
| AEE Ameren Corporation | Add +8.1% | 0.99% | +0.12 |
| LLYVK Liberty Media Corp.-Liberty-C | Add +8.8% | 0.58% | +0.12 |
| SRAD Sportradar Group AG-A | Add +239.8% | 0.17% | +0.11 |
| CNP Centerpoint Energy Inc. | Add +7.6% | 1.22% | +0.11 |
| MTD Mettler-Toledo International | Add +25.4% | 0.52% | +0.11 |
| NI Nisource Inc. | Add +6.3% | 1.15% | +0.11 |
| SCI Service Corp. International | Add +1004.1% | 0.11% | +0.10 |
| BDX Becton Dickinson and Co. | Add +0.3% | 1.86% | +0.10 |
| MSCI MSCI Inc. | Add +33.3% | 0.44% | +0.09 |
| MANH Manhattan Associates Inc. | Add +53.0% | 0.24% | +0.08 |
| COO The Cooper Cos Inc. | Add +33.2% | 0.41% | +0.08 |
| U Unity Software Inc. | New | 0.08% | +0.08 |
| COLB Columbia Banking System Inc. | Add +31.2% | 0.27% | +0.08 |
| ULS Ul Solutions Inc. Class A | Add +53.9% | 0.23% | +0.07 |
| VNOM Viper Energy Inc. Class A | New | 0.07% | +0.07 |
| SMTC Semtech Corp. | New | 0.07% | +0.07 |
| TRU Transunion | Add +34.4% | 0.36% | +0.07 |
| ULTA Ulta Beauty Inc. | Add +11.4% | 0.32% | +0.07 |
| RYAN Ryan Specialty Holdings Inc. | Add +125.9% | 0.14% | +0.06 |
| PCVX Vaxcyte Inc. | Add +38.6% | 0.18% | +0.06 |
| MIAX Miami International Holdings | New | 0.06% | +0.06 |
| MH McGraw Hill Inc. | New | 0.06% | +0.06 |
| MSGS Madison Square Garden Sports | Add +174.8% | 0.08% | +0.05 |
Notes & Other Activity Q2 2025 → Q3 2025
| BRUKER CORP (BRKR 6.375 09/01/28) | 6.375 PREF SER A · principal | New | 201,603 | $548K |
| ADVWW Advantage Solutions in-CW25 | *W EXP 10/28/202 | Sold out | 545,310 | $6Kbefore exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 736 | $152.4B | AMZN, MSFT, NVDA, GOOGL, AVGO |
| Q1 2026 | 641 | $145.1B | AMZN, MSFT, AAPL, META, NVDA |
| Q4 2025Amended | 895 | $158.2B | MSFT, NVDA, AAPL, GOOGL, AMZN |
| Q3 2025 | 878 | $163.5B | MSFT, NVDA, AAPL, AMZN, PTC |
| Q2 2025 | 683 | $158.4B | MSFT, AMZN, NVDA, PTC, ROP |
| Q1 2025 | 655 | $151.0B | MSFT, PTC, AMZN, ROP, BDX |
| Q4 2024 | 631 | $161.9B | MSFT, AMZN, FTV, PTC, NVDA |
| Q3 2024 | 621 | $165.8B | MSFT, NVDA, FTV, AMZN, PTC |
| Q2 2024 | 619 | $158.4B | MSFT, GOOGL, AMZN, PTC, NVDA |
| Q1 2024 | 619 | $163.4B | MSFT, FTV, GOOGL, UNH, AMZN |