T. ROWE PRICE INVESTMENT MANAGEMENT, INC. - Filing for Period Ending 12/31/2025
•February 19, 2026
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Why It Matters
The aggressive turnover signals T. Rowe Price’s shifting confidence toward technology and consumer discretionary themes, influencing market sentiment and potentially guiding peer fund strategies. Understanding these moves helps investors gauge sector momentum and the fund’s risk posture.
Key Takeaways
- •Market value rose to $158 b, up $7 b.
- •Turnover hit 21.44%, indicating active rebalancing.
- •Microsoft remains largest holding at 4.47% of portfolio.
- •New purchases span 94 stocks, adding to 315 positions.
- •Top buys include Amazon, Amphenol, Starbucks, Meta, Hilton.
Pulse Analysis
T. Rowe Price’s latest 13F filing offers a window into how one of the industry’s largest managers is navigating a volatile market. By boosting its overall market value to $158 b and increasing turnover to over 21%, the firm demonstrates a willingness to adjust allocations quickly. The emphasis on high‑growth technology names such as Microsoft, Amazon, and Nvidia underscores a bullish outlook on digital transformation, while modest exposure to consumer brands like Starbucks and Hilton reflects a balanced consumer‑discretionary play.
The fund’s sector tilt can be inferred from its top‑10 holdings, which now account for just over 20% of the portfolio, leaving roughly 80% diversified across a broader set of 315 stocks. This diversification strategy reduces concentration risk while still allowing the manager to capitalize on emerging opportunities. Notably, the addition of 94 new stocks and the reduction of holdings in 273 positions suggest a systematic pruning of underperformers and a focus on high‑conviction ideas, a pattern that may signal future performance trends for the fund.
For investors and analysts, the filing highlights two key themes: a continued tilt toward tech-driven growth and an active rebalancing approach that could set the tone for peer institutions. As market dynamics evolve, T. Rowe Price’s adjustments may serve as a bellwether for sector rotation, especially in areas like cloud computing, AI, and consumer services. Monitoring subsequent quarters will reveal whether this strategy translates into outperformance relative to benchmarks and how it influences broader asset‑allocation decisions across the industry.
T. ROWE PRICE INVESTMENT MANAGEMENT, INC. - filing for period ending 12/31/2025
2025‑06‑30
Top Buys (13F)
| Name | % Change |
|------|----------|
| AMZN – Amazon.com Inc | 0.82% |
| APH – Amphenol Corp. | 0.63% |
| SBUX – Starbucks Corp. | 0.57% |
| META – Meta Platforms Inc. | 0.51% |
| HLT – Hilton Worldwide Holdings | 0.50% |
Top Sells (13F)
| Name | % Change |
|------|----------|
| FTV – Fortive Corp. | 1.26% |
| MRVL – Marvell Technology Inc. | 0.70% |
| TMO – Thermo Fisher Scientific | 0.63% |
| UNH – UnitedHealth Group Inc. | 0.55% |
| WCN – Waste Connections Inc. | 0.46% |
13F Holdings Summary
| Name | % of Portfolio |
|------|-----------------|
| MSFT – Microsoft Corporation | 4.47% |
| AMZN – Amazon.com Inc | 2.85% |
| NVDA – NVIDIA Corp. | 2.44% |
| PTC – PTC Inc. | 2.22% |
| ROP – Roper Technologies Inc. | 1.85% |
13F Activity
| Metric | Value |
|--------|-------|
| Market Value | $158 b (Prior: $151 b) |
| Inflows (Outflows) as % of Total MV | –1.6942 % |
| New Purchases | 94 stocks |
| Added To | 315 stocks |
| Sold Out Of | 67 stocks |
| Reduced Holdings In | 273 stocks |
| Top 10 Holdings % | 20.72 % |
| Turnover %¹ | 21.44 % |
| Turnover Alt %² | 12.07 % |
| Time Held – Top 20 | 3.55 quarters |
| Time Held – Top 10 | 3.90 quarters |
| Time Held – All | 6.50 quarters |
Notes
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Turnover is calculated as (new holdings + positions sold out of) ÷ total holdings for the quarter.
-
Alt Turnover is the lesser of (MV of new purchases) or (MV of securities sold) ÷ total MV of the fund.
13F Sector Allocation Over Time
(Data limited to the past four quarters.)
Analysis
Top 20 equal‑weighted holdings. Performance numbers are calculated through 2025‑06‑30.
Portfolio Performance
(Performance details would follow here.)
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