T.
ROWE
PRICE
Global
Stock
Fund
July
31,
2024
(Unaudited)
1
Portfolio
of
Investments
‡
Shares
$
Value
(
Cost
and
value
in
$000s)
‡
ARGENTINA 0.7%
Common
Stocks 0.7%
MercadoLibre
(USD) (1)
30,448
50,815
Total
Argentina
(Cost
$48,640)
50,815
CANADA 0.7%
Common
Stocks 0.7%
Shopify,
Class
A
(USD) (1)
810,596
49,608
Total
Canada
(Cost
$36,849)
49,608
CAYMAN
ISLANDS 0.2%
Convertible
Preferred
Stocks 0.2%
ByteDance,
Series
E,
Acquisition
Date:
7/8/19,
Cost $1,996
(USD) (1)(2)(3)
40,500
11,116
Total
Cayman
Islands
(Cost
$1,996)
11,116
DENMARK 3.1%
Common
Stocks 3.1%
Novo
Nordisk,
Class
B
1,621,377
214,821
Total
Denmark
(Cost
$186,052)
214,821
GERMANY 3.7%
Common
Stocks 2.1%
Infineon
Technologies
2,167,382
75,291
SAP
332,375
70,271
145,562
Preferred
Stocks 1.6%
Sartorius
395,790
112,255
112,255
Total
Germany
(Cost
$216,864)
257,817
INDIA 2.6%
Common
Stocks 2.6%
HDFC
Bank
488,544
9,441
ICICI
Bank
5,885,219
85,786
Kotak
Mahindra
Bank
3,929,874
85,136
Total
India
(Cost
$148,132)
180,363
T.
ROWE
PRICE
Global
Stock
Fund
2
Shares
$
Value
(Cost
and
value
in
$000s)
INDONESIA 1.9%
Common
Stocks 1.9%
Bank
Central
Asia
202,044,900
127,937
Total
Indonesia
(Cost
$123,549)
127,937
ITALY 0.9%
Common
Stocks 0.9%
PRADA
(HKD)
8,173,500
58,926
Total
Italy
(Cost
$49,409)
58,926
JAPAN 7.3%
Common
Stocks 7.3%
Asics
3,496,200
57,059
Chugai
Pharmaceutical
2,216,700
96,742
Daiichi
Sankyo
2,708,500
110,311
Harmonic
Drive
Systems
1,929,600
53,029
Keyence
231,300
101,138
Mitsubishi
UFJ
Financial
Group
4,601,300
53,147
Recruit
Holdings
505,700
28,999
Total
Japan
(Cost
$442,226)
500,425
NETHERLANDS 2.6%
Common
Stocks 2.6%
Adyen (1)
56,016
68,521
ASML
Holding
80,623
75,074
BE
Semiconductor
Industries
289,955
37,353
Total
Netherlands
(Cost
$111,308)
180,948
PORTUGAL 0.9%
Common
Stocks 0.9%
Galp
Energia
2,855,429
60,039
Total
Portugal
(Cost
$59,676)
60,039
SOUTH
KOREA 1.5%
Common
Stocks 1.5%
SK
Hynix
746,722
107,098
Total
South
Korea
(Cost
$94,676)
107,098
T.
ROWE
PRICE
Global
Stock
Fund
3
Shares
$
Value
(Cost
and
value
in
$000s)
SWEDEN 1.1%
Common
Stocks 1.1%
Spotify
Technology
(USD) (1)
117,200
40,310
Svenska
Cellulosa,
Class
B (4)
2,601,555
35,364
Total
Sweden
(Cost
$67,558)
75,674
SWITZERLAND 1.8%
Common
Stocks 1.8%
Cie
Financiere
Richemont,
Class
A
485,267
74,018
Nestle
500,744
50,722
Total
Switzerland
(Cost
$121,657)
124,740
TAIWAN 2.5%
Common
Stocks 2.5%
Taiwan
Semiconductor
Manufacturing
5,802,000
169,252
Total
Taiwan
(Cost
$67,632)
169,252
UNITED
KINGDOM 3.8%
Common
Stocks 3.8%
London
Stock
Exchange
Group
1,563,612
190,332
Unilever
1,111,611
68,314
Total
United
Kingdom
(Cost
$196,334)
258,646
UNITED
STATES 64.8%
Common
Stocks 64.1%
Advanced
Micro
Devices (1)
599,609
86,632
Alphabet,
Class
A
457,079
78,407
Amazon.com (1)
1,107,999
207,174
Amphenol,
Class
A
1,090,725
70,090
Apple
1,735,525
385,425
Broadcom
111,300
17,884
Canva,
Acquisition
Date:
8/16/21
-
12/17/21,
Cost $11,369 (1)
(2)(3)
6,670
7,115
Carvana (1)
416,900
55,544
Celsius
Holdings (1)
210,109
9,839
Charles
Schwab
3,157,980
205,869
Citigroup
1,618,000
104,976
Colgate-Palmolive
487,569
48,362
ConocoPhillips
1,722,366
191,527
T.
ROWE
PRICE
Global
Stock
Fund
4
Shares
$
Value
(Cost
and
value
in
$000s)
Constellation
Energy
306,451
58,164
Copart (1)
874,454
45,760
Corning
1,348,531
53,955
Danaher
373,127
103,386
Databricks,
Acquisition
Date:
7/24/20
-
8/28/20,
Cost $4,929 (1)
(2)(3)
307,914
26,902
Diamondback
Energy
266,467
53,909
Dollar
General
628,826
75,704
Eli
Lilly
415,249
333,972
Entegris
593,429
70,197
Epic
Games,
Acquisition
Date:
6/18/20
-
3/29/21,
Cost $22,057 (1)(2)(3)
35,359
21,329
EQT
1,746,107
60,258
Exxon
Mobil
1,634,081
193,786
Freeport-McMoRan
797,704
36,224
GE
Vernova (1)
104,565
18,638
General
Electric
614,530
104,593
HubSpot (1)
116,308
57,809
IDEXX
Laboratories (1)
102,100
48,612
Intuitive
Surgical (1)
114,481
50,899
KLA
54,822
45,122
Meta
Platforms,
Class
A
251,252
119,302
Microsoft
580,306
242,771
Netflix (1)
92,159
57,908
NVIDIA
2,384,826
279,072
Old
Dominion
Freight
Line
390,013
81,973
Pax
Labs,
Class
A,
Acquisition
Date:
4/18/19,
Cost $3,143 (1)
(2)(3)
834,772
342
PepsiCo
693,190
119,693
Reliance
213,777
65,108
Repligen (1)
93,859
15,707
RH (1)
122,476
35,528
Stripe,
Class
B,
Acquisition
Date:
5/18/21,
Cost $2,609 (1)(2)(3)
65,013
1,690
Synopsys (1)
36,493
20,375
Tesla (1)
439,261
101,939
Tradeweb
Markets,
Class
A
1,247,297
139,298
Uber
Technologies (1)
780,504
50,319
UnitedHealth
Group
268,375
154,627
Verily
Life
Sciences,
Series
B,
Acquisition
Date:
1/23/19,
Cost $1,402 (1)(2)(3)
11,378
1,110
4,414,825
T.
ROWE
PRICE
Global
Stock
Fund
5
Shares
$
Value
(Cost
and
value
in
$000s)
Convertible
Preferred
Stocks 0.7%
ABL
Space
Systems,
Series
B,
Acquisition
Date:
3/24/21,
Cost $7,106 (1)(2)(3)
157,791
5,534
ABL
Space
Systems,
Series
B-2,
Acquisition
Date:
10/22/21,
Cost $8,274 (1)(2)(3)
121,690
4,206
Canva,
Series
A,
Acquisition
Date:
11/4/21
-
12/17/21,
Cost $726 (1)(2)(3)
426
454
Canva,
Series
A-3,
Acquisition
Date:
11/4/21
-
12/17/21,
Cost $82 (1)(2)(3)
48
51
Canva,
Series
A-4,
Acquisition
Date:
12/17/21,
Cost $7 (1)(2)(3)
4
4
Databricks,
Series
F,
Acquisition
Date:
10/22/19,
Cost $2,194 (1)(2)(3)
153,273
13,391
Databricks,
Series
G,
Acquisition
Date:
2/1/21,
Cost $1,618 (1)
(2)(3)
27,363
2,391
Databricks,
Series
H,
Acquisition
Date:
8/31/21,
Cost $5,195 (1)
(2)(3)
70,698
6,177
Databricks,
Series
I,
Acquisition
Date:
9/14/23,
Cost $2,729 (1)
(2)(3)
37,125
3,244
Freenome
Holdings,
Series
B,
Acquisition
Date:
6/24/19,
Cost $1,003 (1)(2)(3)
220,032
1,221
Freenome
Holdings,
Series
C,
Acquisition
Date:
8/14/20,
Cost $1,881 (1)(2)(3)
284,475
1,579
Freenome
Holdings,
Series
D,
Acquisition
Date:
11/22/21,
Cost $3,927 (1)(2)(3)
520,600
2,900
Waymo,
Series
A-2,
Acquisition
Date:
5/8/20,
Cost $7,672 (1)
(2)(3)
89,353
5,513
46,665
Total
United
States
(Cost
$3,334,003)
4,461,490
SHORT-TERM
INVESTMENTS 0.0%
Money
Market
Funds 0.0%
T.
Rowe
Price
Government
Reserve
Fund,
5.36% (5)(6)
3,210,436
3,210
Total
Short-Term
Investments
(Cost
$3,210)
3,210
T.
ROWE
PRICE
Global
Stock
Fund
6
Shares
$
Value
(Cost
and
value
in
$000s)
SECURITIES
LENDING
COLLATERAL 0.1%
INVESTMENTS
IN
A
POOLED
ACCOUNT
THROUGH
SECURITIES
LENDING
PROGRAM
WITH
JPMORGAN
CHASE
BANK 0.1%
Money
Market
Funds 0.1%
T.
Rowe
Price
Government
Reserve
Fund,
5.36% (5)(6)
6,255,885
6,256
Total
Investments
in
a
Pooled
Account
through
Securities
Lending
Program
with
JPMorgan
Chase
Bank
6,256
Total
Securities
Lending
Collateral
(Cost
$6,256)
6,256
Total
Investments
in
Securities
100.2%
(Cost
$5,316,027)
$
6,899,181
Other
Assets
Less
Liabilities
(0.2)%
(15,293)
Net
Assets
100.0%
$
6,883,888
‡
Country
classifications
are
generally
based
on
MSCI
categories
or
another
unaffiliated
third
party
data
provider;
Shares
are
denominated
in
the
currency
of
the
country
presented
unless
otherwise
noted.
(1)
Non-income
producing
(2)
Level
3
in
fair
value
hierarchy.
(3)
Security
cannot
be
offered
for
public
resale
without
first
being
registered
under
the
Securities
Act
of
1933
and
related
rules
("restricted
security").
Acquisition
date
represents
the
day
on
which
an
enforceable
right
to
acquire
such
security
is
obtained
and
is
presented
along
with
related
cost
in
the
security
description.
The
fund
may
have
registration
rights
for
certain
restricted
securities.
Any
costs
related
to
such
registration
are
generally
borne
by
the
issuer.
The
aggregate
value
of
restricted
securities
(excluding
144A
holdings)
at
period
end
amounts
to
$116,269
and
represents
1.7%
of
net
assets.
(4)
All
or
a
portion
of
this
security
is
on
loan
at
July
31,
2024.
(5)
Seven-day
yield
(6)
Affiliated
Companies
HKD
Hong
Kong
Dollar
USD
U.S.
Dollar
T.
ROWE
PRICE
Global
Stock
Fund
7
The
accompanying
notes
are
an
integral
part
of
this
Portfolio
of
Investments.
AFFILIATED
COMPANIES
($000s)
The
fund
may
invest
in
certain
securities
that
are
considered
affiliated
companies.
As
defined
by
the
1940
Act,
an
affiliated
company
is
one
in
which
the
fund
owns
5%
or
more
of
the
outstanding
voting
securities,
or
a
company
that
is
under
common
ownership
or
control.
The
following
securities
were
considered
affiliated
companies
for
all
or
some
portion
of
the
nine
months
ended
July
31,
2024.
Net
realized
gain
(loss),
investment
income,
change
in
net
unrealized
gain/loss,
and
purchase
and
sales
cost
reflect
all
activity
for
the
period
then
ended.
Affiliate
Net
Realized
Gain
(Loss)
Change
in
Net
Unrealized
Gain/Loss
Investment
Income
T.
Rowe
Price
Government
Reserve
Fund,
5.36%
$
—
$
—
$
295
++
Totals
$
—
#
$
—
$
295
+
Supplementary
Investment
Schedule
Affiliate
Value
10/31/23
Purchase
Cost
Sales
Cost
Value
07/31/24
T.
Rowe
Price
Government
Reserve
Fund,
5.36%
$
35,481
¤
¤
$
9,466
Total
$
9,466
^
#
Capital
gain
distributions
from
underlying
Price
funds
represented
$0
of
the
net
realized
gain
(loss).
++
Excludes
earnings
on
securities
lending
collateral,
which
are
subject
to
rebates
and
fees.
+
Investment
income
comprised
$295
of
dividend
income
and
$0
of
interest
income.
¤
Purchase
and
sale
information
not
shown
for
cash
management
funds.
^
The
cost
basis
of
investments
in
affiliated
companies
was
$9,466.
T.
ROWE
PRICE
Global
Stock
Fund
Unaudited
Notes
to
Portfolio
of
Investments
8
T.
Rowe
Price
Global
Stock
Fund (the
fund) is
registered
under
the
Investment
Company
Act
of
1940
(the
1940
Act)
as
an
open-end
management
investment
company
and
follows
accounting
and
reporting
guidance
of
the
Financial
Accounting
Standards
Board
Accounting
Standards
Codification
Topic
946.
The
accompanying
Portfolio
of
Investments
was
prepared
in
accordance
with
accounting
principles
generally
accepted
in
the
United
States
of
America
(GAAP).
For
additional
information
on
the
fund’s
significant
accounting
policies
and
investment
related
disclosures,
please
refer
to
the
fund’s most
recent
semiannual
or
annual
shareholder
report
and
its
prospectus.
VALUATION
Fair
Value
The
fund’s
financial
instruments
are
valued
at
the
close
of
the
New
York
Stock
Exchange
(NYSE),
normally
4
p.m.
ET,
each
day
the
NYSE
is
open
for
business,
and
are
reported
at
fair
value,
which
GAAP
defines
as
the
price
that
would
be
received
to
sell
an
asset
or
paid
to
transfer
a
liability
in
an
orderly
transaction
between
market
participants
at
the
measurement
date. The fund’s
Board
of
Directors
(the
Board)
has
designated
T.
Rowe
Price
Associates,
Inc.
as
the
fund’s
valuation
designee
(Valuation
Designee).
Subject
to
oversight
by
the
Board,
the
Valuation
Designee
performs
the
following
functions
in
performing
fair
value
determinations:
assesses
and
manages
valuation
risks;
establishes
and
applies
fair
value
methodologies;
tests
fair
value
methodologies;
and
evaluates
pricing
vendors
and
pricing
agents.
The
duties
and
responsibilities
of
the
Valuation
Designee
are
performed
by
its
Valuation
Committee. The
Valuation
Designee provides
periodic
reporting
to
the
Board
on
valuation
matters.
Various
valuation
techniques
and
inputs
are
used
to
determine
the
fair
value
of
financial
instruments.
GAAP
establishes
the
following
fair
value
hierarchy
that
categorizes
the
inputs
used
to
measure
fair
value:
Level
1
–
quoted
prices
(unadjusted)
in
active
markets
for
identical
financial
instruments
that
the
fund
can
access
at
the
reporting
date
Level
2
–
inputs
other
than
Level
1
quoted
prices
that
are
observable,
either
directly
or
indirectly
(including,
but
not
limited
to,
quoted
prices
for
similar
financial
instruments
in
active
markets,
quoted
prices
for
identical
or
similar
financial
instruments
in
inactive
markets,
interest
rates
and
yield
curves,
implied
volatilities,
and
credit
spreads)
T.
ROWE
PRICE
Global
Stock
Fund
9
Level
3
–
unobservable
inputs
(including
the Valuation
Designee’s assumptions
in
determining
fair
value)
Observable
inputs
are
developed
using
market
data,
such
as
publicly
available
information
about
actual
events
or
transactions,
and
reflect
the
assumptions
that
market
participants
would
use
to
price
the
financial
instrument.
Unobservable
inputs
are
those
for
which
market
data
are
not
available
and
are
developed
using
the
best
information
available
about
the
assumptions
that
market
participants
would
use
to
price
the
financial
instrument.
GAAP
requires
valuation
techniques
to
maximize
the
use
of
relevant
observable
inputs
and
minimize
the
use
of
unobservable
inputs.
When
multiple
inputs
are
used
to
derive
fair
value,
the
financial
instrument
is
assigned
to
the
level
within
the
fair
value
hierarchy
based
on
the
lowest-level
input
that
is
significant
to
the
fair
value
of
the
financial
instrument.
Input
levels
are
not
necessarily
an
indication
of
the
risk
or
liquidity
associated
with
financial
instruments
at
that
level
but
rather
the
degree
of
judgment
used
in
determining
those
values.
Valuation
Techniques
Equity
securities,
including
exchange-traded
funds, listed
or
regularly
traded
on
a
securities
exchange
or
in
the
over-the-
counter
(OTC)
market
are
valued
at
the
last
quoted
sale
price
or,
for
certain
markets,
the
official
closing
price
at
the
time
the
valuations
are
made.
OTC
Bulletin
Board
securities
are
valued
at
the
mean
of
the
closing
bid
and
asked
prices.
A
security
that
is
listed
or
traded
on
more
than
one
exchange
is
valued
at
the
quotation
on
the
exchange
determined
to
be
the
primary
market
for
such
security.
Listed
securities
not
traded
on
a
particular
day
are
valued
at
the
mean
of
the
closing
bid
and
asked
prices
for
domestic
securities
and
the
last
quoted
sale
or
closing
price
for
international
securities.
The
last
quoted
prices
of
non-U.S.
equity
securities
may
be
adjusted
to
reflect
the
fair
value
of
such
securities
at
the
close
of
the
NYSE,
if
the Valuation
Designee
determines
that
developments
between
the
close
of
a
foreign
market
and
the
close
of
the
NYSE
will
affect
the
value
of
some
or
all
of
its portfolio
securities.
Each
business
day,
the
Valuation
Designee uses
information
from
outside
pricing
services
to
evaluate
the
quoted
prices
of
portfolio
securities
and,
if
appropriate,
decide whether
it
is
necessary
to
adjust
quoted
prices
to
reflect
fair
value
by
reviewing
a
variety
of
factors,
including
developments
in
foreign
markets,
the
performance
of
U.S.
securities
markets,
and
the
performance
of
instruments
trading
in
U.S.
markets
that
represent
foreign
securities
and
baskets
of
foreign
securities. The Valuation
Designee
uses
outside
pricing
services
to
provide
it
with
quoted
prices
and
information
to
evaluate
or
adjust
T.
ROWE
PRICE
Global
Stock
Fund
10
those
prices.
The Valuation
Designee
cannot
predict
how
often
it
will
use
quoted
prices
and
how
often
it
will
determine
it
necessary
to
adjust
those
prices
to
reflect
fair
value.
Investments
denominated
in
foreign
currencies
are
translated
into
U.S.
dollar
values
each
day
at
the
prevailing
exchange
rate,
using
the
mean
of
the
bid
and
asked
prices
of
such
currencies
against
U.S.
dollars
as
provided
by
an
outside
pricing
service.
Investments
in
mutual
funds
are
valued
at
the
mutual
fund’s
closing
NAV
per
share
on
the
day
of
valuation.
Investments
for
which
market
quotations are
not
readily
available
or
deemed
unreliable
are
valued
at
fair
value
as
determined
in
good
faith
by
the
Valuation
Designee.
The
Valuation
Designee
has
adopted
methodologies
for
determining
the
fair
value
of
investments
for
which
market
quotations
are
not
readily
available
or
deemed
unreliable,
including
the
use
of
other
pricing
sources.
Factors
used
in
determining
fair
value
vary
by
type
of
investment
and
may
include
market
or
investment
specific
considerations.
The
Valuation
Designee typically
will
afford
greatest
weight
to
actual
prices
in
arm’s
length
transactions,
to
the
extent
they
represent
orderly
transactions
between
market
participants,
transaction
information
can
be
reliably
obtained,
and
prices
are
deemed
representative
of
fair
value.
However,
the
Valuation
Designee may
also
consider
other
valuation
methods
such
as
market-based
valuation
multiples;
a
discount
or
premium
from
market
value
of
a
similar,
freely
traded
security
of
the
same
issuer;
discounted
cash
flows;
yield
to
maturity;
or
some
combination.
Fair
value
determinations
are
reviewed
on
a
regular
basis.
Because
any
fair
value
determination
involves
a
significant
amount
of
judgment,
there
is
a
degree
of
subjectivity
inherent
in
such
pricing
decisions. Fair
value
prices
determined
by
the
Valuation
Designee could
differ
from
those
of
other
market
participants,
and
it
is
possible
that
the
fair
value
determined
for
a
security
may
be
materially
different
from
the
value
that
could
be
realized
upon
the
sale
of
that
security.
T.
ROWE
PRICE
Global
Stock
Fund
11
Valuation
Inputs
The
following
table
summarizes
the
fund’s
financial
instruments,
based
on
the
inputs
used
to
determine
their
fair
values
on
July
31,
2024
(for
further
detail
by
category,
please
refer
to
the
accompanying
Portfolio
of
Investments):
Following
is
a
reconciliation
of
the
fund’s
Level
3
holdings
for
the
period ended
July
31,
2024.
Gain
(loss)
reflects
both
realized
and
change
in
unrealized
gain/
loss
on
Level
3
holdings
during
the
period,
if
any.
The
change
in
unrealized
gain/loss
on
Level
3
instruments
held
at
July
31,
2024,
totaled $(425,000) for
the
period ended
July
31,
2024.
OTHER
MATTERS
Unpredictable environmental,
political,
social
and
economic
events,
including
but
not
limited
to,
environmental
or
natural
disasters,
war
and
conflict
(including
Russia’s
military
invasion
of
Ukraine
and
the
conflict
in
Israel,
Gaza
and
surrounding
areas),
terrorism,
geopolitical
developments
(including
trading
and
tariff
arrangements,
sanctions
and
cybersecurity
attacks),
and
public
health
epidemics
(including
the
global
outbreak
of
COVID-19)
and
similar
public
health
($000s)
Level
1
Level
2
Level
3
Total
Value
Assets
Common
Stocks
$
4,497,070
$
2,164,121
$
58,488
$
6,719,679
Convertible
Preferred
Stocks
—
—
57,781
57,781
Preferred
Stocks
—
112,255
—
112,255
Short-Term
Investments
3,210
—
—
3,210
Securities
Lending
Collateral
6,256
—
—
6,256
Total
$
4,506,536
$
2,276,376
$
116,269
$
6,899,181
($000s)
Beginning
Balance
10/31/23
Gain
(Loss)
During
Period
Total
Sales
Ending
Balance
7/31/24
Investment
in
Securities
Common
Stocks
$
57,849
$
1,469
$
(830)
$
58,488
Convertible
Preferred
Stocks
60,324
(599)
(1,944)
57,781
Total
$
118,173
$
870
$
(2,774)
$
116,269
T.
ROWE
PRICE
Global
Stock
Fund
12
threats,
may
significantly
affect
the
economy
and
the
markets
and
issuers
in
which
a
fund
invests.
The
extent
and
duration
of
such
events
and
resulting
market
disruptions
cannot
be
predicted.
These
and
other
similar
events
may
cause
instability
across
global
markets,
including
reduced
liquidity
and
disruptions
in
trading
markets,
while
some
events
may
affect
certain
geographic
regions,
countries,
sectors,
and
industries
more
significantly
than
others,
and
exacerbate
other
pre-existing
political,
social,
and
economic
risks.
The
fund’s
performance
could
be
negatively
impacted
if
the
value
of
a
portfolio
holding
were
harmed
by
these
or
such
events.
Management
actively
monitors
the
risks
and
financial
impacts
arising
from
such
events.
F113-054Q3
07/24