T.
ROWE
PRICE
Equity
Index
500
Fund
September
30,
2023
(Unaudited)
1
Portfolio
of
Investments
‡
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
COMMON
STOCKS
99.7%
COMMUNICATION
SERVICES
8.9%
Diversified
Telecommunication
Services
0.7%
AT&T
5,039,733
75,697
Verizon
Communications
2,963,690
96,053
171,750
Entertainment
1.3%
Activision
Blizzard
504,505
47,237
Electronic
Arts
173,818
20,928
Live
Nation
Entertainment (1)(2)
100,083
8,311
Netflix (1)
312,456
117,983
Take-Two
Interactive
Software (1)
112,254
15,759
Walt
Disney (1)
1,288,270
104,414
Warner
Bros
Discovery (1)
1,560,643
16,949
331,581
Interactive
Media
&
Services
5.9%
Alphabet,
Class
A (1)
4,183,135
547,405
Alphabet,
Class
C (1)
3,558,358
469,169
Match
Group (1)
194,719
7,628
Meta
Platforms,
Class
A (1)
1,567,059
470,447
1,494,649
Media
0.8%
Charter
Communications,
Class
A (1)
71,758
31,561
Comcast,
Class
A
2,901,817
128,667
Fox,
Class
A
178,984
5,584
Fox,
Class
B
92,629
2,675
Interpublic
Group
270,438
7,751
News,
Class
A
263,759
5,291
News,
Class
B
87,400
1,824
Omnicom
Group
139,944
10,423
Paramount
Global,
Class
B
339,165
4,375
198,151
Wireless
Telecommunication
Services
0.2%
T-Mobile
U.S. (1)
364,969
51,114
51,114
Total
Communication
Services
2,247,245
CONSUMER
DISCRETIONARY
10.6%
Automobile
Components
0.1%
Aptiv (1)
199,408
19,660
BorgWarner
164,358
6,635
26,295
T.
ROWE
PRICE
Equity
Index
500
Fund
2
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Automobiles
2.2%
Ford
Motor
2,770,959
34,415
General
Motors
970,214
31,988
Tesla (1)
1,946,941
487,164
553,567
Broadline
Retail
3.3%
Amazon.com (1)
6,401,699
813,784
eBay
374,946
16,531
Etsy (1)
88,463
5,713
836,028
Distributors
0.1%
Genuine
Parts
99,655
14,388
LKQ
179,972
8,911
Pool
27,467
9,781
33,080
Hotels,
Restaurants
&
Leisure
2.1%
Airbnb,
Class
A (1)
300,609
41,247
Booking
Holdings (1)
25,165
77,608
Caesars
Entertainment (1)
152,792
7,082
Carnival (1)(2)
714,437
9,802
Chipotle
Mexican
Grill (1)
19,366
35,475
Darden
Restaurants (2)
85,748
12,281
Domino's
Pizza
25,036
9,483
Expedia
Group (1)
97,222
10,021
Hilton
Worldwide
Holdings
184,409
27,695
Las
Vegas
Sands
232,995
10,680
Marriott
International,
Class
A
176,633
34,719
McDonald's
513,838
135,365
MGM
Resorts
International
198,013
7,279
Norwegian
Cruise
Line
Holdings (1)(2)
304,575
5,019
Royal
Caribbean
Cruises (1)(2)
166,168
15,311
Starbucks
807,619
73,711
Wynn
Resorts
68,323
6,314
Yum!
Brands
197,480
24,673
543,765
Household
Durables
0.3%
DR
Horton
214,702
23,074
Garmin
107,881
11,349
Lennar,
Class
A
177,949
19,971
Mohawk
Industries (1)
38,104
3,270
NVR (1)
2,301
13,722
PulteGroup
154,578
11,446
T.
ROWE
PRICE
Equity
Index
500
Fund
3
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Whirlpool
37,844
5,060
87,892
Leisure
Products
0.0%
Hasbro
93,586
6,190
6,190
Specialty
Retail
2.1%
AutoZone (1)
12,802
32,517
Bath
&
Body
Works
164,482
5,559
Best
Buy
136,382
9,474
CarMax (1)(2)
112,642
7,967
Home
Depot
708,852
214,187
Lowe's
413,153
85,870
O'Reilly
Automotive (1)
42,576
38,696
Ross
Stores
240,217
27,133
TJX
810,327
72,022
Tractor
Supply (2)
76,664
15,567
Ulta
Beauty (1)
35,087
14,015
523,007
Textiles,
Apparel
&
Luxury
Goods
0.4%
NIKE,
Class
B
863,794
82,596
Ralph
Lauren (2)
29,106
3,379
Tapestry
166,278
4,780
VF (2)
234,638
4,146
94,901
Total
Consumer
Discretionary
2,704,725
CONSUMER
STAPLES
6.5%
Beverages
1.6%
Brown-Forman,
Class
B
129,981
7,499
Coca-Cola
2,744,106
153,615
Constellation
Brands,
Class
A
113,686
28,573
Keurig
Dr
Pepper
709,311
22,393
Molson
Coors
Beverage,
Class
B
130,689
8,310
Monster
Beverage (1)
524,381
27,766
PepsiCo
970,597
164,458
412,614
Consumer
Staples
Distribution
&
Retail
1.8%
Costco
Wholesale
312,453
176,523
Dollar
General
155,455
16,447
Dollar
Tree (1)
147,498
15,701
Kroger
463,278
20,732
Sysco
357,201
23,593
Target
324,137
35,840
Walgreens
Boots
Alliance
507,816
11,294
T.
ROWE
PRICE
Equity
Index
500
Fund
4
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Walmart
1,006,266
160,932
461,062
Food
Products
1.0%
Archer-Daniels-Midland
378,033
28,511
Bunge
106,113
11,487
Campbell
Soup
138,452
5,688
Conagra
Brands
336,316
9,222
General
Mills
412,649
26,405
Hershey
104,496
20,908
Hormel
Foods
205,822
7,827
J
M
Smucker
72,024
8,852
Kellogg
183,900
10,944
Kraft
Heinz
565,850
19,035
Lamb
Weston
Holdings
102,702
9,496
McCormick
176,238
13,331
Mondelez
International,
Class
A
959,234
66,571
Tyson
Foods,
Class
A
202,426
10,220
248,497
Household
Products
1.3%
Church
&
Dwight
173,242
15,874
Clorox
87,364
11,450
Colgate-Palmolive
582,724
41,438
Kimberly-Clark
239,398
28,931
Procter
&
Gamble
1,662,073
242,430
340,123
Personal
Care
Products
0.2%
Estee
Lauder,
Class
A
163,409
23,621
Kenvue
1,209,469
24,286
47,907
Tobacco
0.6%
Altria
Group
1,251,299
52,617
Philip
Morris
International
1,094,275
101,308
153,925
Total
Consumer
Staples
1,664,128
ENERGY
4.7%
Energy
Equipment
&
Services
0.4%
Baker
Hughes
712,549
25,167
Halliburton
633,623
25,662
Schlumberger
1,002,088
58,422
109,251
Oil,
Gas
&
Consumable
Fuels
4.3%
APA
216,375
8,893
T.
ROWE
PRICE
Equity
Index
500
Fund
5
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Chevron
1,250,964
210,937
ConocoPhillips
844,305
101,148
Coterra
Energy
537,063
14,528
Devon
Energy
451,509
21,537
Diamondback
Energy
126,102
19,531
EOG
Resources
410,559
52,042
EQT
252,846
10,260
Exxon
Mobil
2,822,500
331,870
Hess
194,772
29,800
Kinder
Morgan
1,366,991
22,665
Marathon
Oil
426,629
11,412
Marathon
Petroleum
281,914
42,665
Occidental
Petroleum
467,816
30,352
ONEOK
412,702
26,178
Phillips
66
313,955
37,722
Pioneer
Natural
Resources
164,119
37,673
Targa
Resources
157,598
13,509
Valero
Energy
248,980
35,283
Williams
857,325
28,883
1,086,888
Total
Energy
1,196,139
FINANCIALS
12.7%
Banks
3.0%
Bank
of
America
4,874,470
133,463
Citigroup
1,357,830
55,848
Citizens
Financial
Group
333,134
8,928
Comerica
93,009
3,865
Fifth
Third
Bancorp
482,597
12,224
Huntington
Bancshares
1,018,359
10,591
JPMorgan
Chase
2,048,971
297,142
KeyCorp
663,854
7,143
M&T
Bank
117,621
14,873
PNC
Financial
Services
Group
280,826
34,477
Regions
Financial
665,190
11,441
Truist
Financial
938,739
26,857
U.S.
Bancorp
1,097,757
36,292
Wells
Fargo
2,579,670
105,405
Zions
Bancorp
107,158
3,739
762,288
Capital
Markets
2.8%
Ameriprise
Financial
72,368
23,858
Bank
of
New
York
Mellon
549,089
23,419
BlackRock
98,951
63,971
Blackstone
500,418
53,615
T.
ROWE
PRICE
Equity
Index
500
Fund
6
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Cboe
Global
Markets
73,911
11,546
Charles
Schwab
1,048,227
57,548
CME
Group
254,264
50,909
FactSet
Research
Systems
26,868
11,748
Franklin
Resources
200,096
4,918
Goldman
Sachs
Group
232,438
75,210
Intercontinental
Exchange
403,437
44,386
Invesco
322,842
4,688
MarketAxess
Holdings
26,720
5,708
Moody's
110,772
35,023
Morgan
Stanley
899,564
73,467
MSCI
55,770
28,615
Nasdaq
238,801
11,603
Northern
Trust
145,716
10,124
Raymond
James
Financial
132,558
13,313
S&P
Global
229,427
83,835
State
Street
224,661
15,043
T.
Rowe
Price
Group (3)
158,045
16,574
719,121
Consumer
Finance
0.4%
American
Express
410,207
61,199
Capital
One
Financial
268,828
26,090
Discover
Financial
Services
176,272
15,270
Synchrony
Financial
294,492
9,003
111,562
Financial
Services
4.3%
Berkshire
Hathaway,
Class
B (1)
1,285,809
450,419
Fidelity
National
Information
Services
417,522
23,076
Fiserv (1)
429,848
48,556
FleetCor
Technologies (1)
52,094
13,302
Global
Payments
183,221
21,142
Jack
Henry
&
Associates
51,867
7,839
Mastercard,
Class
A
586,622
232,249
PayPal
Holdings (1)
774,184
45,259
Visa,
Class
A
1,132,885
260,575
1,102,417
Insurance
2.2%
Aflac
381,203
29,257
Allstate
184,322
20,535
American
International
Group
501,997
30,421
Aon,
Class
A
143,045
46,378
Arch
Capital
Group (1)
264,380
21,074
Arthur
J
Gallagher
151,719
34,581
Assurant
37,547
5,391
T.
ROWE
PRICE
Equity
Index
500
Fund
7
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Brown
&
Brown
167,758
11,716
Chubb
289,612
60,291
Cincinnati
Financial
110,010
11,253
Everest
Group
30,647
11,391
Globe
Life
61,205
6,655
Hartford
Financial
Services
Group
215,673
15,293
Loews
130,439
8,258
Marsh
&
McLennan
348,288
66,279
MetLife
445,446
28,023
Principal
Financial
Group
156,841
11,303
Progressive
413,415
57,589
Prudential
Financial
255,977
24,290
Travelers
161,442
26,365
W
R
Berkley
143,937
9,139
Willis
Towers
Watson
73,926
15,448
550,930
Total
Financials
3,246,318
HEALTH
CARE
13.3%
Biotechnology
2.1%
AbbVie
1,245,168
185,605
Amgen
377,095
101,348
Biogen (1)
102,079
26,235
Gilead
Sciences
878,370
65,825
Incyte (1)
133,041
7,686
Moderna (1)
232,612
24,026
Regeneron
Pharmaceuticals (1)
75,264
61,939
Vertex
Pharmaceuticals (1)
182,089
63,320
535,984
Health
Care
Equipment
&
Supplies
2.6%
Abbott
Laboratories
1,223,572
118,503
Align
Technology (1)
50,467
15,409
Baxter
International
357,243
13,482
Becton
Dickinson
&
Company
204,544
52,881
Boston
Scientific (1)
1,032,368
54,509
Cooper
35,064
11,151
DENTSPLY
SIRONA
152,794
5,219
Dexcom (1)
273,361
25,505
Edwards
Lifesciences (1)
430,198
29,804
GE
HealthCare
Technologies
277,389
18,873
Hologic (1)
174,509
12,111
IDEXX
Laboratories (1)
58,503
25,582
Insulet (1)
48,941
7,806
Intuitive
Surgical (1)
247,841
72,441
Medtronic
938,408
73,534
T.
ROWE
PRICE
Equity
Index
500
Fund
8
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
ResMed
104,235
15,413
STERIS
69,506
15,251
Stryker
238,275
65,113
Teleflex
33,435
6,567
Zimmer
Biomet
Holdings
147,951
16,603
655,757
Health
Care
Providers
&
Services
3.0%
Cardinal
Health
180,569
15,677
Cencora
114,903
20,679
Centene (1)
381,834
26,301
Cigna
Group
209,151
59,832
CVS
Health
906,416
63,286
DaVita (1)
39,214
3,707
Elevance
Health
166,155
72,347
HCA
Healthcare
141,924
34,911
Henry
Schein (1)
91,917
6,825
Humana
87,337
42,491
Laboratory
Corp.
of
America
Holdings
62,906
12,647
McKesson
95,208
41,401
Molina
Healthcare (1)
40,904
13,412
Quest
Diagnostics
79,732
9,716
UnitedHealth
Group
653,102
329,288
Universal
Health
Services,
Class
B
43,724
5,497
758,017
Life
Sciences
Tools
&
Services
1.5%
Agilent
Technologies
208,159
23,276
Bio-Rad
Laboratories,
Class
A (1)
14,693
5,267
Bio-Techne
112,193
7,637
Charles
River
Laboratories
International (1)
36,169
7,088
Danaher
463,319
114,949
Illumina (1)
111,535
15,312
IQVIA
Holdings (1)
129,131
25,406
Mettler-Toledo
International (1)
15,407
17,072
Revvity
87,422
9,678
Thermo
Fisher
Scientific
272,136
137,747
Waters (1)
41,365
11,343
West
Pharmaceutical
Services
52,048
19,529
394,304
Pharmaceuticals
4.1%
Bristol-Myers
Squibb
1,473,013
85,494
Catalent (1)
128,859
5,867
Eli
Lilly
562,222
301,986
Johnson
&
Johnson
1,697,824
264,436
Merck
1,789,006
184,178
T.
ROWE
PRICE
Equity
Index
500
Fund
9
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Organon
179,693
3,120
Pfizer
3,982,401
132,096
Viatris
849,458
8,376
Zoetis
324,574
56,469
1,042,022
Total
Health
Care
3,386,084
INDUSTRIALS
&
BUSINESS
SERVICES
8.6%
Aerospace
&
Defense
1.5%
Axon
Enterprise (1)
49,494
9,849
Boeing (1)
399,922
76,657
General
Dynamics
159,627
35,273
Howmet
Aerospace
276,100
12,770
Huntington
Ingalls
Industries
28,360
5,802
L3Harris
Technologies
133,284
23,207
Lockheed
Martin
158,035
64,630
Northrop
Grumman
100,280
44,142
RTX
1,026,281
73,861
Textron
141,005
11,018
TransDigm
Group (1)
38,907
32,804
390,013
Air
Freight
&
Logistics
0.6%
CH
Robinson
Worldwide
83,504
7,192
Expeditors
International
of
Washington
104,309
11,957
FedEx
162,422
43,029
United
Parcel
Service,
Class
B
509,979
79,490
141,668
Building
Products
0.4%
A.O.
Smith
88,466
5,850
Allegion
62,567
6,520
Carrier
Global
592,342
32,697
Johnson
Controls
International
479,737
25,527
Masco
158,130
8,452
Trane
Technologies
160,979
32,664
111,710
Commercial
Services
&
Supplies
0.5%
Cintas
60,952
29,319
Copart (1)
608,663
26,227
Republic
Services
145,840
20,784
Rollins
193,316
7,216
Waste
Management
259,995
39,634
123,180
T.
ROWE
PRICE
Equity
Index
500
Fund
10
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Construction
&
Engineering
0.1%
Quanta
Services
102,133
19,106
19,106
Electrical
Equipment
0.6%
AMETEK
163,223
24,118
Eaton
281,797
60,102
Emerson
Electric
403,198
38,937
Generac
Holdings (1)
44,664
4,866
Rockwell
Automation
80,944
23,139
151,162
Ground
Transportation
0.8%
CSX
1,414,713
43,502
JB
Hunt
Transport
Services
57,584
10,856
Norfolk
Southern
160,079
31,524
Old
Dominion
Freight
Line
63,146
25,836
Union
Pacific
429,723
87,505
199,223
Industrial
Conglomerates
1.0%
3M
387,473
36,275
General
Electric
767,408
84,837
Honeywell
International
468,155
86,487
Roper
Technologies
75,216
36,426
244,025
Machinery
1.8%
Caterpillar
359,682
98,193
Cummins
100,431
22,945
Deere
192,248
72,551
Dover
98,540
13,747
Fortive
248,049
18,395
IDEX
53,715
11,174
Illinois
Tool
Works
193,967
44,673
Ingersoll
Rand
286,916
18,282
Nordson
38,572
8,608
Otis
Worldwide
290,167
23,303
PACCAR
368,478
31,328
Parker-Hannifin
90,045
35,074
Pentair
117,309
7,596
Snap-on
37,078
9,457
Stanley
Black
&
Decker
106,639
8,913
Westinghouse
Air
Brake
Technologies
126,193
13,411
Xylem
169,408
15,421
453,071
T.
ROWE
PRICE
Equity
Index
500
Fund
11
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Passenger
Airlines
0.2%
Alaska
Air
Group (1)
90,516
3,356
American
Airlines
Group (1)(2)
463,404
5,936
Delta
Air
Lines
452,713
16,751
Southwest
Airlines
424,385
11,488
United
Airlines
Holdings (1)
232,522
9,836
47,367
Professional
Services
0.8%
Automatic
Data
Processing
290,492
69,886
Broadridge
Financial
Solutions
83,219
14,900
Ceridian
HCM
Holding (1)
109,795
7,450
Equifax
86,996
15,936
Jacobs
Solutions
88,776
12,118
Leidos
Holdings
97,436
8,980
Paychex
226,149
26,082
Paycom
Software
34,577
8,965
Robert
Half
74,880
5,487
Verisk
Analytics
102,719
24,266
194,070
Trading
Companies
&
Distributors
0.3%
Fastenal
405,101
22,135
United
Rentals
48,153
21,407
WW
Grainger
31,360
21,696
65,238
Total
Industrials
&
Business
Services
2,139,833
INFORMATION
TECHNOLOGY
27.2%
Communications
Equipment
0.9%
Arista
Networks (1)
175,167
32,218
Cisco
Systems
2,873,170
154,462
F5 (1)
41,743
6,726
Juniper
Networks
230,729
6,412
Motorola
Solutions
117,774
32,063
231,881
Electronic
Equipment,
Instruments
&
Components
0.6%
Amphenol,
Class
A
420,231
35,295
CDW
94,457
19,058
Corning
544,015
16,576
Keysight
Technologies (1)
126,364
16,719
TE
Connectivity
221,377
27,347
Teledyne
Technologies (1)
33,164
13,550
Trimble (1)
176,738
9,519
Zebra
Technologies,
Class
A (1)
36,042
8,525
146,589
T.
ROWE
PRICE
Equity
Index
500
Fund
12
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
IT
Services
1.2%
Accenture,
Class
A
444,713
136,576
Akamai
Technologies (1)
106,460
11,342
Cognizant
Technology
Solutions,
Class
A
356,140
24,125
DXC
Technology (1)
144,848
3,017
EPAM
Systems (1)
40,823
10,438
Gartner (1)
55,544
19,085
International
Business
Machines
642,158
90,095
VeriSign (1)
63,206
12,801
307,479
Semiconductors
&
Semiconductor
Equipment
7.4%
Advanced
Micro
Devices (1)
1,135,771
116,780
Analog
Devices
353,552
61,903
Applied
Materials
592,100
81,976
Broadcom
290,968
241,672
Enphase
Energy (1)
96,045
11,540
First
Solar (1)
75,322
12,171
Intel
2,949,881
104,868
KLA
96,372
44,202
Lam
Research
93,989
58,910
Microchip
Technology
383,839
29,959
Micron
Technology
772,677
52,565
Monolithic
Power
Systems
33,686
15,563
NVIDIA
1,741,504
757,537
NXP
Semiconductors
182,324
36,450
ON
Semiconductor (1)
304,704
28,322
Qorvo (1)
68,914
6,579
QUALCOMM
787,789
87,492
Skyworks
Solutions
113,509
11,191
SolarEdge
Technologies (1)
40,147
5,200
Teradyne
109,908
11,041
Texas
Instruments
640,197
101,798
1,877,719
Software
9.9%
Adobe (1)
321,367
163,865
ANSYS (1)
61,471
18,291
Autodesk (1)
150,708
31,183
Cadence
Design
Systems (1)
191,581
44,887
Fair
Isaac (1)
17,513
15,211
Fortinet (1)
457,595
26,852
Gen
Digital
402,864
7,123
Intuit
197,467
100,894
Microsoft
5,238,447
1,654,040
Oracle
1,109,958
117,567
T.
ROWE
PRICE
Equity
Index
500
Fund
13
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Palo
Alto
Networks (1)
215,646
50,556
PTC (1)
83,784
11,870
Salesforce (1)
686,730
139,255
ServiceNow (1)
143,814
80,386
Synopsys (1)
107,419
49,302
Tyler
Technologies (1)
29,801
11,507
2,522,789
Technology
Hardware,
Storage
&
Peripherals
7.2%
Apple
10,361,722
1,774,030
Hewlett
Packard
Enterprise
914,601
15,887
HP
612,904
15,752
NetApp
148,493
11,268
Seagate
Technology
Holdings
137,400
9,061
Western
Digital (1)
228,447
10,424
1,836,422
Total
Information
Technology
6,922,879
MATERIALS
2.4%
Chemicals
1.7%
Air
Products
&
Chemicals
156,637
44,391
Albemarle
83,226
14,152
Celanese
71,098
8,924
CF
Industries
Holdings
134,595
11,540
Corteva
500,211
25,591
Dow
495,783
25,562
DuPont
de
Nemours
323,514
24,131
Eastman
Chemical
85,255
6,541
Ecolab
178,860
30,299
FMC
89,589
6,000
International
Flavors
&
Fragrances
179,804
12,257
Linde
344,043
128,104
LyondellBasell
Industries,
Class
A
179,988
17,045
Mosaic
233,985
8,330
PPG
Industries
166,978
21,674
Sherwin-Williams
165,481
42,206
426,747
Construction
Materials
0.1%
Martin
Marietta
Materials
43,549
17,876
Vulcan
Materials
93,626
18,914
36,790
Containers
&
Packaging
0.2%
Amcor
1,036,257
9,492
Avery
Dennison
56,753
10,367
Ball
223,006
11,101
T.
ROWE
PRICE
Equity
Index
500
Fund
14
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
International
Paper
243,621
8,641
Packaging
Corp.
of
America
63,320
9,723
Sealed
Air
102,817
3,379
Westrock
180,383
6,458
59,161
Metals
&
Mining
0.4%
Freeport-McMoRan
1,011,260
37,710
Newmont
560,047
20,694
Nucor
175,389
27,422
Steel
Dynamics
109,820
11,775
97,601
Total
Materials
620,299
REAL
ESTATE
2.4%
Health
Care
Real
Estate
Investment
Trusts
0.2%
Healthpeak
Properties,
REIT
391,289
7,184
Ventas,
REIT
283,692
11,952
Welltower,
REIT
365,736
29,961
49,097
Hotel
&
Resort
Real
Estate
Investment
Trusts
0.0%
Host
Hotels
&
Resorts,
REIT
509,855
8,193
8,193
Industrial
Real
Estate
Investment
Trusts
0.3%
Prologis,
REIT
651,289
73,081
73,081
Office
Real
Estate
Investment
Trusts
0.1%
Alexandria
Real
Estate
Equities,
REIT
109,696
10,981
Boston
Properties,
REIT (2)
102,542
6,099
17,080
Real
Estate
Management
&
Development
0.1%
CBRE
Group,
Class
A (1)
218,312
16,124
CoStar
Group (1)
287,761
22,126
38,250
Residential
Real
Estate
Investment
Trusts
0.3%
AvalonBay
Communities,
REIT
99,284
17,051
Camden
Property
Trust,
REIT
75,169
7,110
Equity
Residential,
REIT
241,231
14,163
Essex
Property
Trust,
REIT
45,202
9,587
Invitation
Homes,
REIT
405,690
12,856
Mid-America
Apartment
Communities,
REIT
82,474
10,610
UDR,
REIT
213,821
7,627
79,004
T.
ROWE
PRICE
Equity
Index
500
Fund
15
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Retail
Real
Estate
Investment
Trusts
0.3%
Federal
Realty
Investment
Trust,
REIT
51,997
4,712
Kimco
Realty,
REIT
433,122
7,619
Realty
Income,
REIT
499,739
24,957
Regency
Centers,
REIT
116,928
6,950
Simon
Property
Group,
REIT
230,593
24,911
69,149
Specialized
Real
Estate
Investment
Trusts
1.1%
American
Tower,
REIT
328,606
54,039
Crown
Castle,
REIT
306,018
28,163
Digital
Realty
Trust,
REIT
213,428
25,829
Equinix,
REIT
65,968
47,910
Extra
Space
Storage,
REIT
148,639
18,072
Iron
Mountain,
REIT
204,581
12,162
Public
Storage,
REIT
110,859
29,214
SBA
Communications,
REIT
76,365
15,286
VICI
Properties,
REIT
712,442
20,732
Weyerhaeuser,
REIT
514,874
15,786
267,193
Total
Real
Estate
601,047
UTILITIES
2.4%
Electric
Utilities
1.6%
Alliant
Energy
179,053
8,675
American
Electric
Power
363,089
27,312
Constellation
Energy
226,777
24,737
Duke
Energy
543,535
47,972
Edison
International
269,047
17,028
Entergy
149,940
13,869
Evergy
163,750
8,302
Eversource
Energy
246,891
14,357
Exelon
701,418
26,507
FirstEnergy
363,935
12,439
NextEra
Energy
1,426,901
81,747
NRG
Energy
160,039
6,165
PG&E (1)
1,474,455
23,783
Pinnacle
West
Capital
80,222
5,911
PPL
519,250
12,233
Southern
769,968
49,832
Xcel
Energy
388,671
22,240
403,109
Gas
Utilities
0.0%
Atmos
Energy
102,474
10,855
10,855
T.
ROWE
PRICE
Equity
Index
500
Fund
16
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Independent
Power
&
Renewable
Electricity
Producers
0.0%
AES
470,132
7,146
7,146
Multi-Utilities
0.7%
Ameren
183,029
13,696
CenterPoint
Energy
447,407
12,013
CMS
Energy
205,688
10,924
Consolidated
Edison
243,069
20,790
Dominion
Energy
589,741
26,344
DTE
Energy
146,171
14,512
NiSource
288,624
7,123
Public
Service
Enterprise
Group
353,969
20,144
Sempra
443,235
30,153
WEC
Energy
Group
223,751
18,023
173,722
Water
Utilities
0.1%
American
Water
Works
137,944
17,082
17,082
Total
Utilities
611,914
Total
Common
Stocks
(Cost
$9,315,580)
25,340,611
SHORT-TERM
INVESTMENTS
0.3%
Money
Market
Funds
0.3%
T.
Rowe
Price
Government
Reserve
Fund,
5.40% (3)(4)
69,377,317
69,377
69,377
U.S.
Treasury
Obligations
0.0%
U.S.
Treasury
Bills,
5.256%,
12/14/23 (5)
7,130,000
7,053
7,053
Total
Short-Term
Investments
(Cost
$76,432)
76,430
T.
ROWE
PRICE
Equity
Index
500
Fund
17
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
SECURITIES
LENDING
COLLATERAL
0.2%
INVESTMENTS
IN
A
POOLED
ACCOUNT
THROUGH
SECURITIES
LENDING
PROGRAM
WITH
STATE
STREET
BANK
AND
TRUST
COMPANY
0.2%
Money
Market
Funds
0.2%
T.
Rowe
Price
Government
Reserve
Fund,
5.40% (3)(4)
55,980,210
55,980
Total
Investments
in
a
Pooled
Account
through
Securities
Lending
Program
with
State
Street
Bank
And
Trust
Company
55,980
Total
Securities
Lending
Collateral
(Cost
$55,980)
55,980
Total
Investments
in
Securities
100.2%
(Cost
$9,447,992)
$
25,473,021
Other
Assets
Less
Liabilities
(0.2)%
(46,271)
Net
Assets
100.0%
$
25,426,750
‡
Shares/Par
and
Notional
Amount
are
denominated
in
U.S.
dollars
unless
otherwise
noted.
(1)
Non-income
producing
(2)
All
or
a
portion
of
this
security
is
on
loan
at
September
30,
2023.
(3)
Affiliated
Companies
(4)
Seven-day
yield
(5)
At
September
30,
2023,
all
or
a
portion
of
this
security
is
pledged
as
collateral
and/or
margin
deposit
to
cover
future
funding
obligations.
REIT
A
domestic
Real
Estate
Investment
Trust
whose
distributions
pass-through
with
original
tax
character
to
the
shareholder
T.
ROWE
PRICE
Equity
Index
500
Fund
18
FUTURES
CONTRACTS
($000s)
Expiration
Date
Notional
Amount
Value
and
Unrealized
Gain
(Loss)
Long,
386
S&P
500
E-Mini
Index
contracts
12/23
83,482
$
(3,470)
Net
payments
(receipts)
of
variation
margin
to
date
3,238
Variation
margin
receivable
(payable)
on
open
futures
contracts
$
(232)
T.
ROWE
PRICE
Equity
Index
500
Fund
19
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
September
30,
2023.
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
Group
$
240
$
(879)
$
584
T.
Rowe
Price
Government
Reserve
Fund,
5.40%
—
—
2,293++
Totals
$
240#
$
(879)
$
2,877+
Supplementary
Investment
Schedule
Affiliate
Value
12/31/22
Purchase
Cost
Sales
Cost
Value
09/30/23
T.
Rowe
Price
Group
$
17,546
$
319
$
412
$
16,574
T.
Rowe
Price
Government
Reserve
Fund,
5.40%
82,615
¤
¤
125,357
Total
$
141,931^
#
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
$2,877
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
$132,372.
T.
ROWE
PRICE
Equity
Index
500
Fund
Unaudited
Notes
to
Portfolio
of
Investments
20
T.
Rowe
Price
Equity
Index
500
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)
Level
3
–
unobservable
inputs
(including
the Valuation
Designee’s assumptions
in
determining
fair
value)
T.
ROWE
PRICE
Equity
Index
500
Fund
21
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.
Debt
securities
generally
are
traded
in
the over-the-counter
(OTC)
market
and
are
valued
at
prices
furnished
by
independent
pricing
services
or
by
broker
dealers
who
make
markets
in
such
securities.
When
valuing
securities,
the
independent
pricing
services
consider
factors
such
as,
but
not
limited
to,
the
yield
or
price
of
bonds
of
comparable
quality,
coupon,
maturity,
and
type,
as
well
as
prices
quoted
by
dealers
who
make
markets
in
such
securities.
Investments
in
mutual
funds
are
valued
at
the
mutual
fund’s
closing
NAV
per
share
on
the
day
of
valuation.
Futures
contracts
are
valued
at
closing
settlement
prices.
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
T.
ROWE
PRICE
Equity
Index
500
Fund
22
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.
Valuation
Inputs
The
following
table
summarizes
the
fund’s
financial
instruments,
based
on
the
inputs
used
to
determine
their
fair
values
on
September
30,
2023
(for
further
detail
by
category,
please
refer
to
the
accompanying
Portfolio
of
Investments):
OTHER
MATTERS
Unpredictable
events
such
as
environmental
or
natural
disasters,
war,
terrorism,
pandemics,
outbreaks
of
infectious
diseases,
and
similar
public
health
threats
may
significantly
affect
the
economy
and
the
markets
and
issuers
in
which
the fund
invests.
Certain
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.
($000s)
Level
1
Level
2
Level
3
Total
Value
Assets
Common
Stocks
$
25,340,611
$
—
$
—
$
25,340,611
Short-Term
Investments
69,377
7,053
—
76,430
Securities
Lending
Collateral
55,980
—
—
55,980
Total
$
25,465,968
$
7,053
$
—
$
25,473,021
Liabilities
Futures
Contracts*
$
3,470
$
—
$
—
$
3,470
*
The
fair
value
presented
includes
cumulative
gain
(loss)
on
open
futures
contracts;
however,
the
net
value
reflected
on
the
accompanying
Portfolio
of
Investments
is
only
the
unsettled
variation
margin
receivable
(payable)
at
that
date.
T.
ROWE
PRICE
Equity
Index
500
Fund
23
Since
2020,
a
novel
strain
of
coronavirus
(COVID-19)
has
resulted
in
disruptions
to
global
business
activity
and
caused
significant
volatility
and
declines
in
global
financial
markets.
In
February
2022,
Russian
forces
entered
Ukraine
and
commenced
an
armed
conflict
leading
to
economic
sanctions
being
imposed
on
Russia
and
certain
of
its
citizens,
creating
impacts
on
Russian-related
stocks
and
debt
and
greater
volatility
in
global
markets.
In
March
2023,
the
collapse
of
some
US
regional
and
global
banks
as
well
as
overall
concerns
around
the
soundness
and
stability
of
the
global
banking
sector
has
sparked
concerns
of
a
broader
financial
crisis
impacting
the
overall
global
banking
sector.
In
certain
cases,
government
agencies
have
assumed
control
or
otherwise
intervened
in
the
operations
of
certain
banks
due
to
liquidity
and
solvency
concerns.
The
extent
of
impact
of
these
events
on
the
US
and
global
markets
is
highly
uncertain.
These
are
recent
examples
of
global
events
which
may
have
a
negative
impact
on
the
values
of
certain
portfolio
holdings
or
the
fund’s
overall
performance.
Management
is
actively
monitoring
the
risks
and
financial
impacts
arising
from
these
events.
F50-054Q3
09/23