UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act File Number: 811-05986
T. Rowe Price Index Trust, Inc.
(Exact name of registrant as specified in charter)
100 East Pratt Street, Baltimore, MD 21202
(Address of principal executive offices)
David Oestreicher
100 East Pratt Street, Baltimore, MD 21202
(Name and address of agent for service)
Registrant’s telephone number, including area code: (410) 345-2000
Date of fiscal year end: December 31
Date of reporting period: June 30, 2024
Item 1. Reports to Shareholders
(a) Report pursuant to Rule 30e-1
Semi-Annual Shareholder Report
June 30, 2024
This semi-annual shareholder report contains important information about Small-Cap Index Fund (the "fund") for the period of January 1, 2024 to June 30, 2024. You can find the fund’s prospectus, financial information on Form N‑CSR (which includes required tax information for dividends), holdings, proxy voting information, and other information atwww.troweprice.com/prospectus. You can also request this information without charge by contacting T. Rowe Price at 1‑800‑638‑5660 or info@troweprice.com or contacting your intermediary.
What were the fund costs for the last six months? (based on a hypothetical $10,000 investment)
| | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
|---|
| Small-Cap Index Fund - Investor Class | $15 | 0.29% |
What are some fund statistics?
| Total Net Assets (000s) | $167,915 |
| Number of Portfolio Holdings | 2,009 |
| |
| Portfolio Turnover Rate | 19.9% |
What did the fund invest in?
Sector Allocation (as a % of Net Assets)
| Health Care | 17.3% |
| Industrials & Business Services | 17.2 |
| Financials | 17.0 |
| Information Technology | 13.3 |
| Consumer Discretionary | 10.1 |
| Energy | 6.6 |
| Real Estate | 5.9 |
| Materials | 4.6 |
| Utilities | 2.8 |
| Other | 5.2 |
Top Ten Holdings (as a % of Net Assets)
| Insmed | 0.4% |
| FTAI Aviation | 0.4 |
| Abercrombie & Fitch | 0.4 |
| Fabrinet | 0.4 |
| Sprouts Farmers Market | 0.3 |
| Vaxcyte | 0.3 |
| Applied Industrial Technologies | 0.3 |
| Fluor | 0.3 |
| HealthEquity | 0.3 |
| SPS Commerce | 0.3 |
If you invest directly with T. Rowe Price, you can elect to receive future shareholder reports or other important documents through electronic delivery by enrolling at www.troweprice.com/paperless. If you invest through a financial intermediary such as an investment advisor, a bank, retirement plan sponsor or a brokerage firm, please contact that organization and ask if it can provide electronic delivery.
Small-Cap Index Fund
Investor Class (TRSYX)
T. Rowe Price Investment Services, Inc.
100 East Pratt Street
Baltimore, MD 21202
Semi-Annual Shareholder Report
June 30, 2024
This semi-annual shareholder report contains important information about Small-Cap Index Fund (the "fund") for the period of January 1, 2024 to June 30, 2024. You can find the fund’s prospectus, financial information on Form N‑CSR (which includes required tax information for dividends), holdings, proxy voting information, and other information atwww.troweprice.com/prospectus. You can also request this information without charge by contacting T. Rowe Price at 1‑800‑638‑5660 or info@troweprice.com or contacting your intermediary.
What were the fund costs for the last six months? (based on a hypothetical $10,000 investment)
| | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
|---|
| Small-Cap Index Fund - I Class | $7 | 0.14% |
What are some fund statistics?
| Total Net Assets (000s) | $167,915 |
| Number of Portfolio Holdings | 2,009 |
| |
| Portfolio Turnover Rate | 19.9% |
What did the fund invest in?
Sector Allocation (as a % of Net Assets)
| Health Care | 17.3% |
| Industrials & Business Services | 17.2 |
| Financials | 17.0 |
| Information Technology | 13.3 |
| Consumer Discretionary | 10.1 |
| Energy | 6.6 |
| Real Estate | 5.9 |
| Materials | 4.6 |
| Utilities | 2.8 |
| Other | 5.2 |
Top Ten Holdings (as a % of Net Assets)
| Insmed | 0.4% |
| FTAI Aviation | 0.4 |
| Abercrombie & Fitch | 0.4 |
| Fabrinet | 0.4 |
| Sprouts Farmers Market | 0.3 |
| Vaxcyte | 0.3 |
| Applied Industrial Technologies | 0.3 |
| Fluor | 0.3 |
| HealthEquity | 0.3 |
| SPS Commerce | 0.3 |
If you invest directly with T. Rowe Price, you can elect to receive future shareholder reports or other important documents through electronic delivery by enrolling at www.troweprice.com/paperless. If you invest through a financial intermediary such as an investment advisor, a bank, retirement plan sponsor or a brokerage firm, please contact that organization and ask if it can provide electronic delivery.
Small-Cap Index Fund
I Class (TRCSX)
T. Rowe Price Investment Services, Inc.
100 East Pratt Street
Baltimore, MD 21202
Semi-Annual Shareholder Report
June 30, 2024
This semi-annual shareholder report contains important information about Small-Cap Index Fund (the "fund") for the period of January 1, 2024 to June 30, 2024. You can find the fund’s prospectus, financial information on Form N‑CSR (which includes required tax information for dividends), holdings, proxy voting information, and other information atwww.troweprice.com/prospectus. You can also request this information without charge by contacting T. Rowe Price at 1‑800‑638‑5660 or info@troweprice.com or contacting your intermediary.
What were the fund costs for the last six months? (based on a hypothetical $10,000 investment)
| | Costs of a $10,000 investment | Costs paid as a percentage of a $10,000 investment |
|---|
| Small-Cap Index Fund - Z Class | $0 | 0.00% |
What are some fund statistics?
| Total Net Assets (000s) | $167,915 |
| Number of Portfolio Holdings | 2,009 |
| |
| Portfolio Turnover Rate | 19.9% |
What did the fund invest in?
Sector Allocation (as a % of Net Assets)
| Health Care | 17.3% |
| Industrials & Business Services | 17.2 |
| Financials | 17.0 |
| Information Technology | 13.3 |
| Consumer Discretionary | 10.1 |
| Energy | 6.6 |
| Real Estate | 5.9 |
| Materials | 4.6 |
| Utilities | 2.8 |
| Other | 5.2 |
Top Ten Holdings (as a % of Net Assets)
| Insmed | 0.4% |
| FTAI Aviation | 0.4 |
| Abercrombie & Fitch | 0.4 |
| Fabrinet | 0.4 |
| Sprouts Farmers Market | 0.3 |
| Vaxcyte | 0.3 |
| Applied Industrial Technologies | 0.3 |
| Fluor | 0.3 |
| HealthEquity | 0.3 |
| SPS Commerce | 0.3 |
If you invest directly with T. Rowe Price, you can elect to receive future shareholder reports or other important documents through electronic delivery by enrolling at www.troweprice.com/paperless. If you invest through a financial intermediary such as an investment advisor, a bank, retirement plan sponsor or a brokerage firm, please contact that organization and ask if it can provide electronic delivery.
Small-Cap Index Fund
Z Class (TRZIX)
T. Rowe Price Investment Services, Inc.
100 East Pratt Street
Baltimore, MD 21202
Item 1. (b) Notice pursuant to Rule 30e-3.
Not applicable.
Item 2. Code of Ethics.
A code of ethics, as defined in Item 2 of Form N-CSR, applicable to its principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions is filed as an exhibit to the registrant’s annual Form N-CSR. No substantive amendments were approved or waivers were granted to this code of ethics during the registrant’s most recent fiscal half-year.
Item 3. Audit Committee Financial Expert.
Disclosure required in registrant’s annual Form N-CSR.
Item 4. Principal Accountant Fees and Services.
Disclosure required in registrant’s annual Form N-CSR.
Item 5. Audit Committee of Listed Registrants.
Not applicable.
Item 6. Investments.
(a) Not applicable. The complete schedule of investments is included in Item 7 of this Form N-CSR.
(b) Not applicable.
Item 7. Financial Statements and Financial Highlights for Open-End Management Investment Companies.
(a – b) Report pursuant to Regulation S-X.
Financial
Highlights
Portfolio
of
Investments
Financial
Statements
and
Notes
Additional
Fund
Information
Financial
Statements
and
Other
Information
For
more
insights
from
T.
Rowe
Price
investment
professionals,
go
to
troweprice.com
.
T.
ROWE
PRICE
TRSYX
Small-Cap
Index
Fund
TRCSX
Small-Cap
Index
Fund–
.
I Class
TRZIX
Small-Cap
Index
Fund–
.
Z Class
T.
ROWE
PRICE
Small-Cap
Index
Fund
(Unaudited)
For
a
share
outstanding
throughout
each
period
Investor
Class
6
Months
.
Ended
6/30/24
..
Year
..
..
Ended
.
12/31/23
12/31/22
12/31/21
12/31/20
12/31/19
NET
ASSET
VALUE
Beginning
of
period
$
14.40
$
12.48
$
15.93
$
14.16
$
12.20
$
10.19
Investment
activities
Net
investment
income
(1)(2)
0.08
0.18
0.17
0.11
0.11
0.15
Net
realized
and
unrealized
gain/
loss
0.15
1.90
(3.44)
1.91
2.30
2.42
Total
from
investment
activities
0.23
2.08
(3.27)
2.02
2.41
2.57
Distributions
Net
investment
income
—
(0.16)
(0.16)
(0.11)
(0.12)
(0.15)
Net
realized
gain
—
—
(0.02)
(0.14)
(0.33)
(0.41)
Total
distributions
—
(0.16)
(0.18)
(0.25)
(0.45)
(0.56)
NET
ASSET
VALUE
End
of
period
$
14.63
$
14.40
$
12.48
$
15.93
$
14.16
$
12.20
T.
ROWE
PRICE
Small-Cap
Index
Fund
(Unaudited)
For
a
share
outstanding
throughout
each
period
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
Investor
Class
6
Months
.
Ended
6/30/24
..
Year
..
..
Ended
.
12/31/23
12/31/22
12/31/21
12/31/20
12/31/19
Ratios/Supplemental
Data
Total
return
(2)(3)
1.60%
16.75%
(20.58)%
14.32%
19.88%
25.31%
Ratios
to
average
net
assets:
(2)
Gross
expenses
before
waivers/
payments
by
Price
Associates
0.32%
(4)
0.35%
4.93%
1.87%
4.10%
3.93%
Net
expenses
after
waivers/
payments
by
Price
Associates
0.29%
(4)
0.29%
0.29%
0.34%
0.35%
0.34%
Net
investment
income
1.08%
(4)
1.39%
1.26%
0.70%
1.00%
1.25%
Portfolio
turnover
rate
19.9%
27.2%
22.0%
29.0%
21.1%
17.3%
Net
assets,
end
of
period
(in
thousands)
$180
$177
$154
$197
$6,726
$5,794
0%
0%
0%
0%
0%
0%
(1)
Per
share
amounts
calculated
using
average
shares
outstanding
method.
(2)
Includes
the
impact
of
expense-related
arrangements
with
Price
Associates.
(3)
Total
return
reflects
the
rate
that
an
investor
would
have
earned
on
an
investment
in
the
fund
during
each
period,
assuming
reinvestment
of
all
distributions,
and
payment
of
no
redemption
or
account
fees,
if
applicable.
Total
return
is
not
annualized
for
periods
less
than
one
year.
(4)
Annualized
T.
ROWE
PRICE
Small-Cap
Index
Fund
(Unaudited)
For
a
share
outstanding
throughout
each
period
I
Class
6
Months
.
Ended
6/30/24
..
Year
..
..
Ended
.
12/31/23
12/31/22
12/31/21
12/31/20
12/31/19
NET
ASSET
VALUE
Beginning
of
period
$
14.47
$
12.54
$
16.01
$
14.21
$
12.23
$
10.19
Investment
activities
Net
investment
income
(1)(2)
0.09
0.20
0.19
0.18
0.13
0.16
Net
realized
and
unrealized
gain/
loss
0.15
1.91
(3.46)
1.89
2.30
2.44
Total
from
investment
activities
0.24
2.11
(3.27)
2.07
2.43
2.60
Distributions
Net
investment
income
—
(0.18)
(0.18)
(0.13)
(0.12)
(0.15)
Net
realized
gain
—
—
(0.02)
(0.14)
(0.33)
(0.41)
Total
distributions
—
(0.18)
(0.20)
(0.27)
(0.45)
(0.56)
NET
ASSET
VALUE
End
of
period
$
14.71
$
14.47
$
12.54
$
16.01
$
14.21
$
12.23
T.
ROWE
PRICE
Small-Cap
Index
Fund
(Unaudited)
For
a
share
outstanding
throughout
each
period
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
I
Class
6
Months
.
Ended
6/30/24
..
Year
..
..
Ended
.
12/31/23
12/31/22
12/31/21
12/31/20
12/31/19
Ratios/Supplemental
Data
Total
return
(2)(3)
1.66%
16.92%
(20.48)%
14.63%
20.00%
25.60%
Ratios
to
average
net
assets:
(2)
Gross
expenses
before
waivers/
payments
by
Price
Associates
0.33%
(4)
0.40%
0.42%
0.65%
3.93%
3.71%
Net
expenses
after
waivers/
payments
by
Price
Associates
0.14%
(4)
0.14%
0.14%
0.17%
0.20%
0.19%
Net
investment
income
1.24%
(4)
1.55%
1.43%
1.12%
1.15%
1.40%
Portfolio
turnover
rate
19.9%
27.2%
22.0%
29.0%
21.1%
17.3%
Net
assets,
end
of
period
(in
thousands)
$117,787
$112,086
$85,393
$90,212
$355
$306
0%
0%
0%
0%
0%
0%
(1)
Per
share
amounts
calculated
using
average
shares
outstanding
method.
(2)
Includes
the
impact
of
expense-related
arrangements
with
Price
Associates.
(3)
Total
return
reflects
the
rate
that
an
investor
would
have
earned
on
an
investment
in
the
fund
during
each
period,
assuming
reinvestment
of
all
distributions,
and
payment
of
no
redemption
or
account
fees,
if
applicable.
Total
return
is
not
annualized
for
periods
less
than
one
year.
(4)
Annualized
T.
ROWE
PRICE
Small-Cap
Index
Fund
(Unaudited)
For
a
share
outstanding
throughout
each
period
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
Z
Class
(1)
6
Months
.
Ended
6/30/24
..
Year
..
..
Ended
.
3/16/20
(1)
Through
12/31/20
12/31/23
12/31/22
12/31/21
NET
ASSET
VALUE
Beginning
of
period
$
14.46
$
12.53
$
15.99
$
14.20
$
7.59
Investment
activities
Net
investment
income
(2)(3)
0.10
0.23
0.22
0.23
0.11
Net
realized
and
unrealized
gain/loss
0.15
1.90
(3.47)
1.85
6.95
Total
from
investment
activities
0.25
2.13
(3.25)
2.08
7.06
Distributions
Net
investment
income
—
(0.20)
(0.19)
(0.15)
(0.12)
Net
realized
gain
—
—
(0.02)
(0.14)
(0.33)
Total
distributions
—
(0.20)
(0.21)
(0.29)
(0.45)
NET
ASSET
VALUE
End
of
period
$
14.71
$
14.46
$
12.53
$
15.99
$
14.20
Ratios/Supplemental
Data
Total
return
(3)(4)
1.73%
17.07%
(20.35)%
14.71%
93.22%
Ratios
to
average
net
assets:
(3)
Gross
expenses
before
waivers/payments
by
Price
Associates
0.29%
(5)
0.32%
0.38%
0.72%
3.86%
(5)
Net
expenses
after
waivers/
payments
by
Price
Associates
0.00%
(5)
0.00%
0.00%
0.01%
0.01%
(5)
Net
investment
income
1.39%
(5)
1.75%
1.67%
1.40%
1.30%
(5)
Portfolio
turnover
rate
19.9%
27.2%
22.0%
29.0%
21.1%
Net
assets,
end
of
period
(in
thousands)
$49,948
$36,196
$11,833
$1,104
$187
0%
0%
0%
0%
0%
(1)
Inception
date
(2)
Per
share
amounts
calculated
using
average
shares
outstanding
method.
(3)
Includes
the
impact
of
expense-related
arrangements
with
Price
Associates.
(4)
Total
return
reflects
the
rate
that
an
investor
would
have
earned
on
an
investment
in
the
fund
during
each
period,
assuming
reinvestment
of
all
distributions,
and
payment
of
no
redemption
or
account
fees,
if
applicable.
Total
return
is
not
annualized
for
periods
less
than
one
year.
(5)
Annualized
T.
ROWE
PRICE
Small-Cap
Index
Fund
June
30,
2024
(Unaudited)
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
COMMON
STOCKS
100.0%
COMMUNICATION
SERVICES
2.4%
Diversified
Telecommunication
Services
0.4%
Anterix (1)
822
32
AST
SpaceMobile (1)(2)
8,108
94
ATN
International
760
17
Bandwidth,
Class
A (1)
1,726
29
Cogent
Communications
Holdings
3,019
170
Consolidated
Communications
Holdings (1)
4,989
22
Globalstar (1)
47,600
53
IDT,
Class
B
991
36
Liberty
Latin
America,
Class
A (1)
2,357
23
Liberty
Latin
America,
Class
C (1)
9,023
87
Lumen
Technologies (1)(2)
69,693
77
Shenandoah
Telecommunications
3,363
55
695
Entertainment
0.5%
AMC
Entertainment
Holdings,
Class
A (1)
19,120
95
Atlanta
Braves
Holdings,
Class
A (1)
642
27
Atlanta
Braves
Holdings,
Class
C (1)
3,442
136
Cinemark
Holdings (1)
7,566
164
Eventbrite,
Class
A (1)
5,793
28
Golden
Matrix
Group (1)
1,587
4
IMAX (1)
2,939
49
Lions
Gate
Entertainment,
Class
A (1)
3,860
36
Lions
Gate
Entertainment,
Class
B (1)
8,381
72
LiveOne (1)
5,016
8
Madison
Square
Garden
Entertainment (1)
2,689
92
Marcus
1,553
18
Playstudios (1)
5,653
12
Reservoir
Media (1)(2)
1,294
10
Sphere
Entertainment (1)
1,746
61
Vivid
Seats,
Class
A (1)(2)
5,456
31
843
Interactive
Media
&
Services
0.6%
Bumble,
Class
A (1)
6,644
70
Cargurus (1)
6,021
158
Cars.com (1)
4,364
86
EverQuote,
Class
A (1)
1,746
36
fuboTV (1)(2)
18,980
23
Getty
Images
Holdings (1)
7,032
23
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Grindr (1)
1,673
20
MediaAlpha,
Class
A (1)
1,745
23
Nextdoor
Holdings (1)
12,142
34
Outbrain (1)
2,622
13
QuinStreet (1)
3,438
57
Shutterstock
1,720
67
System1 (1)
2,295
3
TrueCar (1)
5,745
18
Vimeo (1)
10,385
39
Yelp (1)
4,495
166
Ziff
Davis (1)
3,118
172
ZipRecruiter,
Class
A (1)
4,970
45
1,053
Media
0.8%
Advantage
Solutions (1)
7,510
24
AMC
Networks,
Class
A (1)
2,085
20
Boston
Omaha,
Class
A (1)
1,502
20
Cable
One
387
137
Cardlytics (1)(2)
2,821
23
Clear
Channel
Outdoor
Holdings (1)
24,917
35
EchoStar,
Class
A (1)
8,348
149
Emerald
Holding (1)(2)
1,038
6
Entravision
Communications,
Class
A
3,627
7
EW
Scripps,
Class
A (1)
3,835
12
Gambling.com
Group (1)
956
8
Gannett (1)
9,265
43
Gray
Television
5,390
28
Ibotta,
Class
A (1)
527
40
iHeartMedia,
Class
A (1)(2)
6,537
7
Innovid (1)
7,595
14
Integral
Ad
Science
Holding (1)
4,999
49
John
Wiley
&
Sons,
Class
A
2,477
101
Magnite (1)
8,578
114
National
CineMedia (1)
4,975
22
PubMatic,
Class
A (1)
2,738
56
Scholastic
1,673
59
Sinclair
2,121
28
Stagwell (1)
6,280
43
TechTarget (1)
1,711
53
TEGNA
12,016
167
Thryv
Holdings (1)
2,045
36
Townsquare
Media,
Class
A
782
9
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
WideOpenWest (1)
3,256
18
1,328
Wireless
Telecommunication
Services
0.1%
Gogo (1)
4,395
42
Spok
Holdings
1,119
17
Telephone
&
Data
Systems
6,766
140
199
Total
Communication
Services
4,118
CONSUMER
DISCRETIONARY
10.1%
Automobile
Components
1.3%
Adient (1)
6,234
154
American
Axle
&
Manufacturing
Holdings (1)
7,517
52
Cooper-Standard
Holdings (1)
1,090
13
Dana
8,967
109
Dorman
Products (1)
1,799
164
Fox
Factory
Holding (1)
2,901
140
Gentherm (1)
2,122
105
Goodyear
Tire
&
Rubber (1)
19,515
221
Holley (1)
3,650
13
LCI
Industries
1,701
176
Luminar
Technologies (1)(2)
23,278
35
Modine
Manufacturing (1)
3,534
354
Patrick
Industries
1,480
161
Phinia
3,117
123
Solid
Power (1)(2)
9,828
16
Standard
Motor
Products
1,500
42
Stoneridge (1)
1,689
27
Visteon (1)
1,869
199
XPEL (1)
1,741
62
2,166
Automobiles
0.1%
Canoo (1)
4,344
9
Livewire
Group (1)(2)
1,171
9
Winnebago
Industries
1,963
107
Workhorse
Group (1)
—
—
125
Broadline
Retail
0.0%
1stdibs.com (1)
1,865
8
Groupon (1)
1,603
25
Qurate
Retail,
Class
B (1)
65
—
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Savers
Value
Village (1)(2)
1,733
21
54
Distributors
0.1%
A-Mark
Precious
Metals (2)
1,238
40
GigaCloud
Technology,
Class
A (1)
1,623
50
Weyco
Group
366
11
101
Diversified
Consumer
Services
1.0%
2U (1)
1
—
Adtalem
Global
Education (1)
2,678
183
American
Public
Education (1)
1,106
19
Carriage
Services
859
23
Chegg (1)
6,769
21
Clear
Secure,
Class
A
6,027
113
Coursera (1)
9,480
68
European
Wax
Center,
Class
A (1)(2)
2,181
22
Frontdoor (1)
5,379
182
Graham
Holdings,
Class
B
224
157
Laureate
Education
9,203
137
Lincoln
Educational
Services (1)
1,839
22
Mister
Car
Wash (1)
6,476
46
Nerdy (1)
4,201
7
OneSpaWorld
Holdings (1)
6,900
106
Perdoceo
Education
4,502
96
Strategic
Education
1,521
168
Stride (1)
2,916
206
Udemy (1)
6,600
57
Universal
Technical
Institute (1)
2,659
42
1,675
Hotels,
Restaurants
&
Leisure
1.9%
Accel
Entertainment (1)
3,507
36
Bally's (1)
1,632
20
Biglari
Holdings,
Class
B (1)
49
10
BJ's
Restaurants (1)
1,290
45
Bloomin'
Brands
5,384
104
Brinker
International (1)
3,019
219
Cheesecake
Factory (2)
3,313
130
Chuy's
Holdings (1)
1,125
29
Cracker
Barrel
Old
Country
Store (2)
1,525
64
Dave
&
Buster's
Entertainment (1)
2,234
89
Denny's (1)
3,498
25
Despegar.com (1)
4,244
56
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Dine
Brands
Global
1,003
36
El
Pollo
Loco
Holdings (1)
1,793
20
Empire
Resorts,
EC (1)(3)
9
—
Everi
Holdings (1)
5,383
45
First
Watch
Restaurant
Group (1)
2,109
37
Full
House
Resorts (1)
2,029
10
Global
Business
Travel
Group
I (1)
8,661
57
Golden
Entertainment
1,360
42
Hilton
Grand
Vacations (1)
5,030
203
Inspired
Entertainment (1)
1,405
13
International
Game
Technology
7,800
160
Jack
in
the
Box
1,352
69
Krispy
Kreme
5,742
62
Kura
Sushi
USA,
Class
A (1)
376
24
Life
Time
Group
Holdings (1)
4,051
76
Lindblad
Expeditions
Holdings (1)
2,245
22
Monarch
Casino
&
Resort
885
60
Mondee
Holdings (1)(2)
3,063
7
Nathan's
Famous
182
12
ONE
Group
Hospitality (1)
1,360
6
Papa
John's
International
2,283
107
PlayAGS (1)
2,556
29
Portillo's,
Class
A (1)
3,751
36
Potbelly (1)
1,688
14
RCI
Hospitality
Holdings
584
25
Red
Rock
Resorts,
Class
A
3,370
185
Rush
Street
Interactive (1)
5,255
50
Sabre (1)
25,906
69
Shake
Shack,
Class
A (1)
2,603
234
Six
Flags
Entertainment (1)
5,010
166
Super
Group
SGHC (1)
10,431
34
Sweetgreen,
Class
A (1)
6,766
204
Target
Hospitality (1)
2,008
18
United
Parks
&
Resorts (1)
2,445
133
Vacasa,
Class
A (1)
762
4
Xponential
Fitness,
Class
A (1)
1,513
24
3,120
Household
Durables
2.2%
Beazer
Homes
USA (1)
1,941
53
Cavco
Industries (1)
574
199
Century
Communities
1,944
159
Cricut,
Class
A (1)
3,081
18
Dream
Finders
Homes,
Class
A (1)
1,934
50
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Ethan
Allen
Interiors
1,477
41
Flexsteel
Industries
334
10
GoPro,
Class
A (1)
7,794
11
Green
Brick
Partners (1)
2,159
124
Hamilton
Beach
Brands
Holding,
Class
A
617
11
Helen
of
Troy (1)(2)
1,631
151
Hooker
Furnishings
688
10
Hovnanian
Enterprises,
Class
A (1)
326
46
Installed
Building
Products
1,640
337
iRobot (1)
1,765
16
KB
Home
4,606
323
Landsea
Homes (1)
1,217
11
La-Z-Boy
2,946
110
Legacy
Housing (1)
696
16
LGI
Homes (1)
1,433
128
Lifetime
Brands
916
8
Lovesac (1)
968
22
M/I
Homes (1)
1,848
226
Meritage
Homes
2,457
398
Purple
Innovation (1)
3,083
3
Skyline
Champion (1)
3,673
249
Sonos (1)
8,457
125
Taylor
Morrison
Home (1)
7,102
394
Traeger (1)
2,404
6
Tri
Pointe
Homes (1)
6,318
235
United
Homes
Group (1)
302
2
Vizio
Holding,
Class
A (1)
6,123
66
Worthington
Enterprises
2,161
102
3,660
Leisure
Products
0.4%
Acushnet
Holdings
1,964
125
AMMO (1)(2)
5,813
10
Clarus
1,942
13
Escalade
586
8
Funko,
Class
A (1)
2,349
23
JAKKS
Pacific (1)
435
8
Johnson
Outdoors,
Class
A
343
12
Latham
Group (1)
2,282
7
Malibu
Boats,
Class
A (1)
1,363
48
Marine
Products
561
6
MasterCraft
Boat
Holdings (1)
1,087
20
Peloton
Interactive,
Class
A (1)
23,266
79
Smith
&
Wesson
Brands
3,015
43
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Solo
Brands,
Class
A (1)(2)
1,131
2
Sturm
Ruger
1,152
48
Topgolf
Callaway
Brands (1)
9,725
149
Vista
Outdoor (1)
3,997
150
751
Specialty
Retail
2.5%
1-800-Flowers.com,
Class
A (1)
1,675
16
Aaron's
2,040
20
Abercrombie
&
Fitch,
Class
A (1)
3,439
612
Academy
Sports
&
Outdoors
4,950
264
aka
Brands
Holding (1)
83
1
American
Eagle
Outfitters
12,486
249
America's
Car-Mart (1)
376
23
Arhaus
3,534
60
Arko
5,114
32
Asbury
Automotive
Group (1)
1,387
316
BARK (1)(2)
8,674
16
Beyond (1)
2,968
39
Boot
Barn
Holdings (1)
2,026
261
Buckle
2,125
78
Build-A-Bear
Workshop (2)
854
22
Caleres
2,351
79
Camping
World
Holdings,
Class
A
2,753
49
Citi
Trends (1)
576
12
Designer
Brands,
Class
A
2,735
19
Destination
XL
Group (1)(2)
3,573
13
EVgo (1)
6,661
16
Foot
Locker
5,722
143
Genesco (1)
766
20
Group
1
Automotive
897
267
GrowGeneration (1)
3,581
8
Haverty
Furniture
978
25
Hibbett
799
70
J
Jill
280
10
Lands'
End (1)
984
13
Leslie's (1)(2)
11,724
49
MarineMax (1)
1,407
45
Monro
1,930
46
National
Vision
Holdings (1)
5,363
70
ODP (1)
2,449
96
OneWater
Marine,
Class
A (1)(2)
769
21
Petco
Health
&
Wellness (1)
5,841
22
RealReal (1)
6,864
22
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Revolve
Group (1)(2)
2,657
42
RumbleON,
Class
B (1)
1,227
5
Sally
Beauty
Holdings (1)
7,035
75
Shoe
Carnival
1,195
44
Signet
Jewelers
2,923
262
Sleep
Number (1)
1,370
13
Sonic
Automotive,
Class
A
965
53
Stitch
Fix,
Class
A (1)
5,670
23
ThredUp,
Class
A (1)
4,608
8
Tile
Shop
Holdings (1)
1,866
13
Tilly's,
Class
A (1)
1,310
8
Torrid
Holdings (1)(2)
655
5
Upbound
Group
3,683
113
Urban
Outfitters (1)
4,389
180
Victoria's
Secret (1)
5,392
95
Warby
Parker,
Class
A (1)
5,991
96
Winmark
201
71
Zumiez (1)
1,026
20
4,250
Textiles,
Apparel
&
Luxury
Goods
0.6%
Figs,
Class
A (1)
8,389
45
G-III
Apparel
Group (1)
2,708
73
Hanesbrands (1)
24,253
120
Kontoor
Brands
3,812
252
Movado
Group
979
24
Oxford
Industries
988
99
Rocky
Brands
493
18
Steven
Madden
4,965
210
Superior
Group
918
17
Vera
Bradley (1)
1,839
12
Wolverine
World
Wide
5,465
74
944
Total
Consumer
Discretionary
16,846
CONSUMER
STAPLES
2.7%
Beverages
0.3%
Duckhorn
Portfolio (1)
3,403
24
MGP
Ingredients
965
72
National
Beverage
1,555
80
Primo
Water
10,810
236
Vita
Coco (1)(2)
2,702
75
487
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Consumer
Staples
Distribution
&
Retail
0.7%
Andersons
2,242
111
Chefs'
Warehouse (1)
2,406
94
HF
Foods
Group (1)
2,819
9
Ingles
Markets,
Class
A
998
69
Natural
Grocers
by
Vitamin
Cottage
676
14
PriceSmart
1,677
136
SpartanNash
2,315
43
Sprouts
Farmers
Market (1)
6,888
576
United
Natural
Foods (1)
3,836
50
Village
Super
Market,
Class
A
603
16
Weis
Markets
1,081
68
1,186
Food
Products
1.0%
Alico
462
12
B&G
Foods
5,118
41
Beyond
Meat (1)(2)
3,975
27
BRC,
Class
A (1)(2)
3,656
22
Calavo
Growers
1,153
26
Cal-Maine
Foods
2,811
172
Dole
5,174
63
Forafric
Global (1)(2)
365
4
Fresh
Del
Monte
Produce
2,240
49
Hain
Celestial
Group (1)
6,022
42
J
&
J
Snack
Foods
1,045
170
John
B.
Sanfilippo
&
Son
589
57
Lancaster
Colony
1,340
253
Lifeway
Foods (1)
353
4
Limoneira
1,138
24
Mama's
Creations (1)
2,331
16
Mission
Produce (1)
2,963
29
Seneca
Foods,
Class
A (1)
307
18
Simply
Good
Foods (1)
6,250
226
SunOpta (1)
6,315
34
TreeHouse
Foods (1)
3,346
123
Utz
Brands
4,434
74
Vital
Farms (1)
2,238
105
Westrock
Coffee (1)(2)
2,376
24
Whole
Earth
Brands (1)
2,338
11
WK
Kellogg
4,515
74
1,700
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Household
Products
0.3%
Central
Garden
&
Pet (1)
613
24
Central
Garden
&
Pet,
Class
A (1)
3,582
118
Energizer
Holdings
4,931
146
Oil-Dri
337
21
WD-40
933
205
514
Personal
Care
Products
0.3%
Beauty
Health (1)
5,365
10
Edgewell
Personal
Care
3,375
136
Herbalife (1)
6,879
72
Honest (1)
5,667
17
Inter
Parfums
1,249
145
Medifast
681
15
Nature's
Sunshine
Products (1)
838
13
Nu
Skin
Enterprises,
Class
A
3,355
35
Olaplex
Holdings (1)
9,831
15
USANA
Health
Sciences (1)
756
34
Veru (1)
9,733
8
Waldencast,
Class
A (1)
1,756
6
506
Tobacco
0.1%
Ispire
Technology (1)
1,101
9
Turning
Point
Brands
1,097
35
Universal
1,653
80
Vector
Group
10,086
106
230
Total
Consumer
Staples
4,623
ENERGY
6.6%
Energy
Equipment
&
Services
2.7%
Archrock
10,575
214
Atlas
Energy
Solutions
4,670
93
Borr
Drilling (2)
16,282
105
Bristow
Group (1)
1,696
57
Cactus,
Class
A
4,487
237
ChampionX
13,050
433
Core
Laboratories
3,095
63
Diamond
Offshore
Drilling (1)
7,026
109
DMC
Global (1)
1,251
18
Drilling
Tools
International (1)
745
4
Dril-Quip (1)
2,232
42
Expro
Group
Holdings (1)
6,494
149
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Forum
Energy
Technologies (1)
841
14
Geospace
Technologies (1)
922
8
Helix
Energy
Solutions
Group (1)
9,893
118
Helmerich
&
Payne
6,620
239
Kodiak
Gas
Services
1,399
38
Liberty
Energy
11,057
231
Mammoth
Energy
Services (1)
1,558
5
Nabors
Industries (1)
615
44
Natural
Gas
Services
Group (1)
762
15
Newpark
Resources (1)
5,733
48
Noble
7,825
349
Oceaneering
International (1)
6,929
164
Oil
States
International (1)
4,037
18
Patterson-UTI
Energy
27,327
283
ProFrac
Holding,
Class
A (1)(2)
1,652
12
ProPetro
Holding (1)
6,135
53
Ranger
Energy
Services
894
10
RPC
5,735
36
SEACOR
Marine
Holdings (1)
1,517
21
Seadrill (1)
5,093
262
Select
Water
Solutions
6,286
67
Solaris
Oilfield
Infrastructure,
Class
A
1,882
16
TETRA
Technologies (1)
8,362
29
Tidewater (1)
3,337
318
Transocean (1)
49,925
267
U.S.
Silica
Holdings (1)
4,939
76
Valaris (1)
4,295
320
4,585
Oil,
Gas
&
Consumable
Fuels
3.9%
Aemetis (1)
2,664
8
Amplify
Energy (1)
2,487
17
Ardmore
Shipping
2,736
62
Berry
5,070
33
California
Resources
4,724
251
Centrus
Energy,
Class
A (1)
978
42
Clean
Energy
Fuels (1)
11,382
30
CNX
Resources (1)
10,289
250
Comstock
Resources (2)
6,047
63
CONSOL
Energy
1,994
203
Crescent
Energy,
Class
A
6,585
78
CVR
Energy
2,356
63
Delek
U.S.
Holdings
4,354
108
DHT
Holdings
9,269
107
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Diversified
Energy
3,254
44
Dorian
LPG
2,380
100
Empire
Petroleum (1)(2)
738
4
Encore
Energy (1)(2)
12,324
49
Energy
Fuels (1)(2)
11,164
68
Equitrans
Midstream
29,730
386
Evolution
Petroleum
2,012
11
Excelerate
Energy,
Class
A
1,228
23
FLEX
LNG
2,107
57
FutureFuel
1,591
8
Golar
LNG
6,779
213
Granite
Ridge
Resources
3,700
23
Green
Plains (1)
4,386
70
Gulfport
Energy (1)
888
134
Hallador
Energy (1)
1,463
11
HighPeak
Energy
1,040
15
International
Seaways
2,770
164
Kinetik
Holdings
2,628
109
Kosmos
Energy (1)
32,061
178
Magnolia
Oil
&
Gas,
Class
A
11,853
300
Murphy
Oil
9,922
409
NACCO
Industries,
Class
A
275
8
NextDecade (1)
7,968
63
Nordic
American
Tankers
13,526
54
Northern
Oil
&
Gas
6,791
252
Overseas
Shipholding
Group,
Class
A
3,325
28
Par
Pacific
Holdings (1)
3,936
99
PBF
Energy,
Class
A
7,082
326
Peabody
Energy
8,769
194
PrimeEnergy
Resources (1)
49
5
REX
American
Resources (1)
1,020
46
Riley
Exploration
Permian
798
23
Ring
Energy (1)(2)
10,512
18
Sable
Offshore (1)
3,485
53
SandRidge
Energy
2,037
26
Scorpio
Tankers
3,206
261
SFL
7,740
107
SilverBow
Resources (1)
1,503
57
Sitio
Royalties,
Class
A
5,669
134
SM
Energy
7,828
338
Talos
Energy (1)
10,155
123
Teekay (1)
3,999
36
Teekay
Tankers,
Class
A
1,647
113
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Uranium
Energy (1)
26,963
162
Ur-Energy (1)
19,184
27
VAALCO
Energy
7,077
44
Verde
Clean
Fuels (1)
210
1
Vital
Energy (1)
1,966
88
Vitesse
Energy
1,649
39
W&T
Offshore
6,035
13
World
Kinect
4,046
104
6,533
Total
Energy
11,118
FINANCIALS
17.0%
Banks
9.1%
1st
Source
1,267
68
ACNB
535
19
Amalgamated
Financial
1,130
31
Amerant
Bancorp
2,053
47
Ameris
Bancorp
4,509
227
Ames
National
535
11
Arrow
Financial
1,147
30
Associated
Banc-Corp
10,258
217
Atlantic
Union
Bankshares
6,127
201
Axos
Financial (1)
3,744
214
Banc
of
California
9,540
122
BancFirst
1,358
119
Bancorp (1)
3,432
130
Bank
First
677
56
Bank
of
Hawaii (2)
2,680
153
Bank
of
Marin
Bancorp
1,013
16
Bank
of
NT
Butterfield
&
Son
3,143
110
Bank7
247
8
BankUnited
5,115
150
Bankwell
Financial
Group
384
10
Banner
2,357
117
Bar
Harbor
Bankshares
956
26
BayCom
756
15
BCB
Bancorp
971
10
Berkshire
Hills
Bancorp
2,858
65
Blue
Foundry
Bancorp (1)
1,068
10
Bridgewater
Bancshares (1)
1,407
16
Brookline
Bancorp
5,763
48
Burke
&
Herbert
Financial
Services
899
46
Business
First
Bancshares
1,599
35
Byline
Bancorp
2,153
51
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Cadence
Bank
12,465
353
California
BanCorp (1)
556
12
Cambridge
Bancorp
508
35
Camden
National
912
30
Capital
Bancorp
616
13
Capital
City
Bank
Group
890
25
Capitol
Federal
Financial
8,313
46
Carter
Bankshares (1)
1,542
23
Cathay
General
Bancorp
4,771
180
Central
Pacific
Financial
1,766
37
Chemung
Financial
218
10
ChoiceOne
Financial
Services (2)
432
12
Citizens
&
Northern
962
17
Citizens
Financial
Services
249
11
City
Holding
1,006
107
Civista
Bancshares
982
15
CNB
Financial
1,312
27
Coastal
Financial (1)
781
36
Codorus
Valley
Bancorp
634
15
Colony
Bankcorp
1,029
13
Columbia
Financial (1)
1,898
28
Community
Financial
System
3,587
169
Community
Trust
Bancorp
1,020
45
Community
West
Bancshares
1,052
19
ConnectOne
Bancorp
2,422
46
CrossFirst
Bankshares (1)
2,976
42
Customers
Bancorp (1)
2,034
98
CVB
Financial
9,084
157
Dime
Community
Bancshares
2,294
47
Eagle
Bancorp
1,988
38
Eastern
Bankshares
10,660
149
Enterprise
Bancorp
624
16
Enterprise
Financial
Services
2,544
104
Equity
Bancshares,
Class
A
975
34
Esquire
Financial
Holdings
470
22
ESSA
Bancorp
541
10
Farmers
&
Merchants
Bancorp
835
19
Farmers
National
Banc
2,435
30
FB
Financial
2,441
95
Fidelity
D&D
Bancorp
302
13
Financial
Institutions
944
18
First
Bancorp
622
15
First
Bancorp
North
Carolina
2,754
88
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
First
BanCorp
Puerto
Rico
11,277
206
First
Bancshares
2,025
53
First
Bank
New
Jersey
1,365
17
First
Busey
3,665
89
First
Business
Financial
Services
506
19
First
Commonwealth
Financial
6,951
96
First
Community
Bankshares
1,157
43
First
Financial
732
27
First
Financial
Bancorp
6,477
144
First
Financial
Bankshares
8,909
263
First
Financial
Northwest
506
11
First
Foundation
3,276
21
First
Internet
Bancorp
577
16
First
Interstate
BancSystem,
Class
A
5,358
149
First
Merchants
3,897
130
First
Mid
Bancshares
1,581
52
First
of
Long
Island
1,354
14
First
Western
Financial (1)
480
8
Five
Star
Bancorp
1,140
27
Flushing
Financial
1,762
23
FS
Bancorp
429
16
Fulton
Financial
12,239
208
FVCBankcorp (1)
996
11
German
American
Bancorp
1,963
69
Glacier
Bancorp
7,799
291
Great
Southern
Bancorp
565
31
Greene
County
Bancorp
440
15
Guaranty
Bancshares
529
17
Hancock
Whitney
5,941
284
Hanmi
Financial
1,944
33
HarborOne
Bancorp
2,579
29
HBT
Financial
856
17
Heartland
Financial
USA
2,910
129
Heritage
Commerce
3,950
34
Heritage
Financial
2,297
41
Hilltop
Holdings
3,201
100
Hingham
Institution
For
Savings
94
17
Home
Bancorp
462
19
Home
BancShares
12,897
309
HomeStreet
1,147
13
HomeTrust
Bancshares
941
28
Hope
Bancorp
7,974
86
Horizon
Bancorp
2,870
36
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Independent
Bank,
(MA)
2,903
147
Independent
Bank,
(MI)
1,348
36
Independent
Bank
Group
2,489
113
International
Bancshares
3,704
212
Investar
Holding
669
10
John
Marshall
Bancorp
805
14
Kearny
Financial
3,357
21
Lakeland
Financial
1,710
105
LCNB
767
11
LINKBANCORP
1,607
10
Live
Oak
Bancshares
2,386
84
Macatawa
Bank
1,665
24
Mercantile
Bank
1,040
42
Metrocity
Bankshares
1,167
31
Metropolitan
Bank
Holding (1)
664
28
Mid
Penn
Bancorp
913
20
Middlefield
Banc (2)
509
12
Midland
States
Bancorp
1,326
30
MidWestOne
Financial
Group
912
21
MVB
Financial
731
14
National
Bank
Holdings,
Class
A
2,536
99
National
Bankshares
346
10
NB
Bancorp (1)
2,697
41
NBT
Bancorp
3,159
122
New
York
Community
Bancorp
52,158
168
Nicolet
Bankshares
915
76
Northeast
Bank
430
26
Northeast
Community
Bancorp
758
14
Northfield
Bancorp
2,677
25
Northrim
BanCorp
346
20
Northwest
Bancshares
8,754
101
Norwood
Financial
471
12
Oak
Valley
Bancorp
473
12
OceanFirst
Financial
3,833
61
OFG
Bancorp
3,191
120
Old
National
Bancorp
21,527
370
Old
Second
Bancorp
2,852
42
Orange
County
Bancorp
329
17
Origin
Bancorp
1,919
61
Orrstown
Financial
Services
658
18
Pacific
Premier
Bancorp
6,570
151
Park
National
988
141
Parke
Bancorp
672
12
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Pathward
Financial
1,755
99
PCB
Bancorp
708
12
Peapack-Gladstone
Financial
1,078
24
Peoples
Bancorp
2,290
69
Peoples
Bancorp
of
North
Carolina
330
10
Peoples
Financial
Services
643
29
Pioneer
Bancorp (1)
715
7
Plumas
Bancorp
354
13
Preferred
Bank
838
63
Premier
Financial
2,313
47
Primis
Financial
1,305
14
Princeton
Bancorp
314
10
Provident
Bancorp (1)
1,127
11
Provident
Financial
Services
8,642
124
QCR
Holdings
1,083
65
RBB
Bancorp
1,055
20
Red
River
Bancshares
336
16
Renasant
3,799
116
Republic
Bancorp,
Class
A
543
29
S&T
Bancorp
2,620
87
Sandy
Spring
Bancorp
2,882
70
Seacoast
Banking
5,794
137
ServisFirst
Bancshares
3,475
220
Shore
Bancshares
1,909
22
Sierra
Bancorp
867
19
Simmons
First
National,
Class
A
8,511
150
SmartFinancial
1,069
25
South
Plains
Financial
743
20
Southern
California
Bancorp (1)
864
12
Southern
First
Bancshares (1)
547
16
Southern
Missouri
Bancorp
606
27
Southern
States
Bancshares
492
13
Southside
Bancshares
1,894
52
SouthState
5,202
398
Stellar
Bancorp
3,381
78
Sterling
Bancorp (1)
1,239
6
Stock
Yards
Bancorp
1,777
88
Texas
Capital
Bancshares (1)
3,176
194
Third
Coast
Bancshares (1)
865
18
Timberland
Bancorp
481
13
Tompkins
Financial
917
45
Towne
Bank
4,822
132
TriCo
Bancshares
2,200
87
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Triumph
Financial (1)
1,517
124
TrustCo
Bank
1,238
36
Trustmark
4,176
125
UMB
Financial
3,071
256
United
Bankshares
9,049
294
United
Community
Banks
8,193
209
Unity
Bancorp
513
15
Univest
Financial
1,906
44
USCB
Financial
Holdings
692
9
Valley
National
Bancorp
29,565
206
Veritex
Holdings
3,614
76
Virginia
National
Bankshares
292
10
WaFd
4,477
128
Washington
Trust
Bancorp
1,080
30
WesBanco
3,953
110
West
BanCorp
1,022
18
Westamerica
BanCorp
1,695
82
WSFS
Financial
4,107
193
15,314
Capital
Markets
1.6%
AlTi
Global (1)(2)
2,438
13
Artisan
Partners
Asset
Management,
Class
A
4,318
178
AssetMark
Financial
Holdings (1)
1,575
54
B.
Riley
Financial (2)
1,318
23
BGC
Group,
Class
A
25,313
210
Brightsphere
Investment
Group
1,884
42
Cohen
&
Steers
1,887
137
Diamond
Hill
Investment
Group
184
26
Donnelley
Financial
Solutions (1)
1,797
107
Forge
Global
Holdings (1)(2)
7,108
10
GCM
Grosvenor,
Class
A
2,721
27
Hamilton
Lane,
Class
A
2,629
325
MarketWise
1,695
2
Moelis,
Class
A
4,837
275
Open
Lending (1)
6,623
37
P10,
Class
A
2,797
24
Patria
Investments,
Class
A
3,658
44
Perella
Weinberg
Partners
3,628
59
Piper
Sandler
1,188
273
PJT
Partners,
Class
A
1,617
175
Silvercrest
Asset
Management
Group,
Class
A
607
10
StepStone
Group,
Class
A
3,671
168
StoneX
Group (1)
1,878
141
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Value
Line
33
1
Victory
Capital
Holdings,
Class
A
2,821
135
Virtus
Investment
Partners
464
105
WisdomTree
9,588
95
2,696
Consumer
Finance
0.8%
Atlanticus
Holdings (1)
279
8
Bread
Financial
Holdings
3,410
152
Consumer
Portfolio
Services (1)
660
7
Encore
Capital
Group (1)
1,615
67
Enova
International (1)
1,785
111
FirstCash
Holdings
2,679
281
Green
Dot,
Class
A (1)
3,698
35
LendingClub (1)
7,132
60
LendingTree (1)
681
28
Medallion
Financial
1,359
10
Moneylion (1)
588
43
Navient
5,461
80
Nelnet,
Class
A
994
100
NerdWallet,
Class
A (1)
2,685
39
OppFi
515
2
PRA
Group (1)
2,538
50
PROG
Holdings
2,869
100
Regional
Management
507
15
Upstart
Holdings (1)(2)
5,285
125
World
Acceptance (1)
244
30
1,343
Financial
Services
2.7%
Acacia
Research (1)
2,343
12
Alerus
Financial
1,207
24
AvidXchange
Holdings (1)
11,920
144
Banco
Latinoamericano
de
Comercio
Exterior,
Class
E
1,797
53
Burford
Capital
13,732
179
Cannae
Holdings
3,840
70
Cantaloupe (1)
3,671
24
Cass
Information
Systems
908
36
Compass
Diversified
Holdings
4,579
100
Enact
Holdings
1,927
59
Essent
Group
7,139
401
EVERTEC
4,423
147
Federal
Agricultural
Mortgage,
Class
C
628
114
Flywire (1)
8,284
136
Hannon
Armstrong
Sustainable
Infrastructure
Capital (2)
7,700
228
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
I3
Verticals,
Class
A (1)
1,452
32
International
Money
Express (1)
2,117
44
Jackson
Financial,
Class
A
5,206
387
Marqeta,
Class
A (1)
31,952
175
Merchants
Bancorp
1,185
48
Mr
Cooper
Group (1)
4,366
355
NCR
Atleos (1)
4,949
134
NewtekOne
1,500
19
NMI
Holdings,
Class
A (1)
5,437
185
Onity
Group (1)
468
11
Pagseguro
Digital,
Class
A (1)
13,063
153
Payoneer
Global (1)
19,448
108
Paysafe (1)
2,095
37
Paysign (1)
2,168
9
PennyMac
Financial
Services
1,832
173
Priority
Technology
Holdings (1)
1,213
6
Radian
Group
10,370
322
Remitly
Global (1)
9,954
121
Repay
Holdings (1)
6,235
66
Sezzle (1)
167
15
StoneCo,
Class
A (1)
19,600
235
SWK
Holdings (1)(2)
287
5
Velocity
Financial (1)
614
11
Walker
&
Dunlop
2,201
216
Waterstone
Financial
1,123
14
4,608
Insurance
1.8%
Ambac
Financial
Group (1)
2,867
37
American
Coastal
Insurance,
Class
C (1)
1,407
15
AMERISAFE
1,255
55
Baldwin
Insurance
Group (1)
4,515
160
CNO
Financial
Group
7,364
204
Crawford,
Class
A
951
8
Donegal
Group,
Class
A
1,079
14
Employers
Holdings
1,682
72
Enstar
Group (1)
868
265
F&G
Annuities
&
Life
1,254
48
Fidelis
Insurance
Holdings
3,286
54
Genworth
Financial (1)
29,871
180
GoHealth,
Class
A (1)
194
2
Goosehead
Insurance,
Class
A (1)
1,610
92
Greenlight
Capital
Re,
Class
A (1)
1,936
25
Hamilton
Insurance
Group,
Class
B (1)
1,053
17
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
HCI
Group
562
52
Heritage
Insurance
Holdings (1)
1,641
12
Hippo
Holdings (1)
1,386
24
Horace
Mann
Educators
2,825
92
Investors
Title
83
15
James
River
Group
Holdings
2,136
16
Kingsway
Financial
Services (1)(2)
673
5
Lemonade (1)(2)
3,557
59
Maiden
Holdings (1)
5,630
12
MBIA
2,882
16
Mercury
General
1,839
98
National
Western
Life
Group,
Class
A
149
74
NI
Holdings (1)
507
8
Oscar
Health,
Class
A (1)
13,313
211
Palomar
Holdings (1)
1,679
136
ProAssurance (1)
3,735
46
Root,
Class
A (1)
601
31
Safety
Insurance
Group
1,010
76
Selective
Insurance
Group
4,161
390
Selectquote (1)
8,798
24
SiriusPoint (1)
6,782
83
Skyward
Specialty
Insurance
Group (1)
2,552
92
Stewart
Information
Services
1,857
115
Tiptree
1,611
27
Trupanion (1)(2)
2,247
66
United
Fire
Group
1,342
29
Universal
Insurance
Holdings
1,566
29
3,086
Mortgage
Real
Estate
Investment
Trusts
1.0%
AFC
Gamma,
REIT
1,113
14
AG
Mortgage
Investment
Trust,
REIT
2,051
14
Angel
Oak
Mortgage
REIT,
REIT
792
10
Apollo
Commercial
Real
Estate
Finance,
REIT
9,796
96
Arbor
Realty
Trust,
REIT (2)
12,620
181
Ares
Commercial
Real
Estate,
REIT (2)
3,566
24
ARMOUR
Residential
REIT,
REIT
3,233
63
Blackstone
Mortgage
Trust,
Class
A,
REIT
11,893
207
BrightSpire
Capital,
REIT
8,490
48
Chicago
Atlantic
Real
Estate
Finance,
REIT (2)
1,053
16
Chimera
Investment,
REIT
5,545
71
Claros
Mortgage
Trust
5,983
48
Dynex
Capital,
REIT
4,414
53
Ellington
Financial,
REIT (2)
5,688
69
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Franklin
BSP
Realty
Trust,
REIT
5,455
69
Granite
Point
Mortgage
Trust,
REIT
3,293
10
Invesco
Mortgage
Capital,
REIT (2)
3,121
29
KKR
Real
Estate
Finance
Trust,
REIT
3,909
35
Ladder
Capital,
REIT
7,805
88
MFA
Financial,
REIT
7,044
75
New
York
Mortgage
Trust,
REIT
5,968
35
Nexpoint
Real
Estate
Finance,
REIT
543
7
Orchid
Island
Capital,
REIT
3,294
27
PennyMac
Mortgage
Investment
Trust,
REIT
5,977
82
Ready
Capital,
REIT
11,106
91
Redwood
Trust,
REIT
5,343
35
TPG
RE
Finance
Trust,
REIT
3,913
34
Two
Harbors
Investment,
REIT
7,136
94
1,625
Total
Financials
28,672
HEALTH
CARE
17.3%
Biotechnology
8.8%
2seventy
bio (1)(2)
3,122
12
4D
Molecular
Therapeutics (1)
3,432
72
89bio (1)
5,223
42
Absci (1)
5,644
17
ACADIA
Pharmaceuticals (1)
8,054
131
ACELYRIN (1)
4,624
20
Achieve
Life
Sciences (1)
2,475
12
Acrivon
Therapeutics (1)(2)
832
5
Actinium
Pharmaceuticals (1)(2)
1,799
13
Acumen
Pharmaceuticals (1)
3,108
8
ADC
Therapeutics (1)
4,985
16
ADMA
Biologics (1)
15,435
173
Aduro
Biotech,
CVR (1)(3)
35
—
Adverum
Biotechnologies (1)
1,503
10
Aerovate
Therapeutics (1)(2)
719
1
Agenus (1)
1,233
21
Agios
Pharmaceuticals (1)
3,874
167
Akebia
Therapeutics (1)
14,784
15
Akero
Therapeutics (1)
4,656
109
Aldeyra
Therapeutics (1)
3,176
10
Alector (1)
5,653
26
Alkermes (1)
11,526
278
Allogene
Therapeutics (1)
6,334
15
Altimmune (1)(2)
4,950
33
ALX
Oncology
Holdings (1)(2)
2,369
14
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Amicus
Therapeutics (1)
20,100
199
AnaptysBio (1)
1,362
34
Anavex
Life
Sciences (1)
4,534
19
Anika
Therapeutics (1)
937
24
Annexon (1)
5,885
29
Apogee
Therapeutics (1)
2,466
97
Applied
Therapeutics (1)
6,691
31
Arbutus
Biopharma (1)
9,731
30
Arcellx (1)
2,955
163
Arcturus
Therapeutics
Holdings (1)
1,565
38
Arcus
Biosciences (1)
3,541
54
Arcutis
Biotherapeutics (1)
7,317
68
Ardelyx (1)
15,961
118
ArriVent
Biopharma (1)
620
11
Arrowhead
Pharmaceuticals (1)
8,177
213
ARS
Pharmaceuticals (1)
3,441
29
Astria
Therapeutics (1)
3,168
29
Atara
Biotherapeutics (1)
—
—
Atossa
Therapeutics (1)
9,139
11
Aura
Biosciences (1)
3,256
25
Aurinia
Pharmaceuticals (1)
9,911
57
Avid
Bioservices (1)
4,279
31
Avidity
Biosciences (1)
6,919
283
Avita
Medical (1)
1,628
13
Beam
Therapeutics (1)(2)
5,247
123
BioCryst
Pharmaceuticals (1)
14,208
88
Biohaven (1)
5,146
179
Biomea
Fusion (1)(2)
2,035
9
Black
Diamond
Therapeutics (1)
2,659
12
Bluebird
Bio (1)(2)
12,320
12
Blueprint
Medicines (1)
4,300
463
Boundless
Bio (1)
557
2
Bridgebio
Pharma (1)
9,625
244
C4
Therapeutics (1)
4,128
19
Cabaletta
Bio (1)
3,025
23
Candel
Therapeutics (1)
1,450
9
Capricor
Therapeutics (1)
1,857
9
Cardiff
Oncology (1)
2,920
6
CareDx (1)
3,470
54
Cargo
Therapeutics (1)
1,462
24
Caribou
Biosciences (1)
5,667
9
Cartesian
Therapeutics (1)(2)
288
8
Cartesian
Therapeutics,
CVR (1)(2)(3)
5,723
—
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Catalyst
Pharmaceuticals (1)
7,988
124
Celcuity (1)(2)
1,635
27
Celldex
Therapeutics (1)
4,428
164
Century
Therapeutics (1)
3,398
9
CervoMed (1)
403
7
CG
oncology (1)
1,528
48
Chinook
Therapeutics,
CVR (1)(3)
2,945
—
Cibus (1)
1,082
11
Cogent
Biosciences (1)
6,338
53
Coherus
Biosciences (1)(2)
6,769
12
Compass
Therapeutics (1)
5,920
6
Corbus
Pharmaceuticals
Holdings (1)
708
32
Crinetics
Pharmaceuticals (1)
5,329
239
Cullinan
Therapeutics (1)
2,676
47
Cytokinetics (1)
7,641
414
Day
One
Biopharmaceuticals (1)
3,539
49
Denali
Therapeutics (1)
8,516
198
Design
Therapeutics (1)
2,333
8
Dianthus
Therapeutics (1)
1,656
43
Disc
Medicine (1)
1,136
51
Dynavax
Technologies (1)
9,049
102
Dyne
Therapeutics (1)
5,529
195
Editas
Medicine (1)
5,494
26
Elevation
Oncology (1)
3,790
10
Eliem
Therapeutics (1)
574
4
Enanta
Pharmaceuticals (1)
1,302
17
Entrada
Therapeutics (1)
1,732
25
Erasca (1)
7,986
19
Fate
Therapeutics (1)
7,035
23
Fennec
Pharmaceuticals (1)
1,710
10
Fibrobiologics (1)
1,861
9
Foghorn
Therapeutics (1)
1,335
8
G1
Therapeutics (1)
3,624
8
Galectin
Therapeutics (1)
1,650
4
Generation
Bio (1)
2,946
8
Geron (1)
39,463
167
Greenwich
Lifesciences (1)
442
8
GTx,
CVR (1)(3)
1
—
Gyre
Therapeutics (1)
534
6
Halozyme
Therapeutics (1)
8,533
447
Heron
Therapeutics (1)(2)
8,205
29
HilleVax (1)
2,200
32
Humacyte (1)(2)
6,139
29
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Ideaya
Biosciences (1)
5,123
180
IGM
Biosciences (1)(2)
950
7
ImmunityBio (1)(2)
9,767
62
Immunome (1)
3,559
43
Immunovant (1)(2)
3,987
105
Inhibrx,
CVR (1)(3)
2,250
—
Inhibrx
Biosciences (1)(2)
562
8
Inmune
Bio (1)
900
8
Inovio
Pharmaceuticals (1)
1,808
15
Inozyme
Pharma (1)(2)
3,374
15
Insmed (1)
10,619
711
Intellia
Therapeutics (1)
6,606
148
Invivyd (1)
5,891
6
Iovance
Biotherapeutics (1)
17,366
139
Ironwood
Pharmaceuticals (1)
9,757
64
iTeos
Therapeutics (1)
1,639
24
Janux
Therapeutics (1)
1,929
81
Jasper
Therapeutics (1)
800
18
KalVista
Pharmaceuticals (1)(2)
2,653
31
Keros
Therapeutics (1)
2,026
93
Kiniksa
Pharmaceuticals
International (1)
2,580
48
Kodiak
Sciences (1)
2,130
5
Korro
Bio (1)
434
15
Krystal
Biotech (1)
1,698
312
Kura
Oncology (1)
4,981
103
Kymera
Therapeutics (1)
3,058
91
Kyverna
Therapeutics (1)
1,228
9
Larimar
Therapeutics (1)
2,961
21
LENZ
Therapeutics (2)
894
15
Lexeo
Therapeutics (1)(2)
647
10
Lexicon
Pharmaceuticals (1)
8,220
14
Lineage
Cell
Therapeutics (1)(2)
8,374
8
Lyell
Immunopharma (1)(2)
11,054
16
MacroGenics (1)
3,997
17
Madrigal
Pharmaceuticals (1)
1,201
336
MannKind (1)
18,221
95
MeiraGTx
Holdings (1)
2,017
8
Mersana
Therapeutics (1)
7,450
15
MiMedx
Group (1)
8,185
57
Mineralys
Therapeutics (1)
2,006
23
Mirum
Pharmaceuticals (1)(2)
2,696
92
Monte
Rosa
Therapeutics (1)
2,072
8
Morphic
Holding (1)
2,737
93
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Myriad
Genetics (1)
6,131
150
Neurogene (1)
719
26
Nkarta (1)
3,723
22
Novavax (1)
9,693
123
Nurix
Therapeutics (1)
4,160
87
Nuvalent,
Class
A (1)
2,189
166
Ocugen (1)
17,875
28
Olema
Pharmaceuticals (1)
2,783
30
Omega
Therapeutics (1)
1,500
3
Organogenesis
Holdings (1)
4,547
13
ORIC
Pharmaceuticals (1)
4,296
30
Outlook
Therapeutics (1)(2)
610
4
Ovid
therapeutics (1)
3,876
3
PepGen (1)
1,100
18
Perspective
Therapeutics (1)
3,274
33
Poseida
Therapeutics (1)
4,172
12
Praxis
Precision
Medicines (1)
1,192
49
Precigen (1)(2)
8,587
14
Prelude
Therapeutics (1)
1,020
4
Prime
Medicine (1)(2)
3,994
21
ProKidney (1)
3,269
8
Protagonist
Therapeutics (1)
4,009
139
Prothena (1)
2,773
57
PTC
Therapeutics (1)
5,218
160
Puma
Biotechnology (1)
3,003
10
Pyxis
Oncology (1)
3,512
12
Q32
Bio (1)
449
8
RAPT
Therapeutics (1)
1,901
6
Recursion
Pharmaceuticals,
Class
A (1)(2)
14,194
106
REGENXBIO (1)
3,197
37
Regulus
Therapeutics (1)
4,594
8
Relay
Therapeutics (1)
6,361
41
Renovaro (1)
3,709
6
Replimune
Group (1)
3,155
28
REVOLUTION
Medicines (1)
10,422
404
Rhythm
Pharmaceuticals (1)
3,753
154
Rigel
Pharmaceuticals (1)
1,083
9
Rocket
Pharmaceuticals (1)
4,520
97
Sage
Therapeutics (1)
3,490
38
Sana
Biotechnology (1)(2)
9,140
50
Savara (1)
6,790
27
Scholar
Rock
Holding (1)(2)
4,751
40
Sera
Prognostics,
Class
A (1)
1,984
12
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Shattuck
Labs (1)
2,823
11
Skye
Bioscience (1)
1,254
10
Soleno
Therapeutics (1)
1,515
62
Solid
Biosciences (1)
1,637
9
SpringWorks
Therapeutics (1)
4,535
171
Spyre
Therapeutics (1)
2,389
56
Stoke
Therapeutics (1)(2)
2,476
33
Summit
Therapeutics (1)
5,968
47
Sutro
Biopharma (1)
5,814
17
Syndax
Pharmaceuticals (1)
5,640
116
Tango
Therapeutics (1)
3,332
29
Taysha
Gene
Therapies (1)
11,188
25
Tenaya
Therapeutics (1)
2,860
9
Tevogen
Bio
Holdings (1)
2,273
2
TG
Therapeutics (1)
9,568
170
Tobira
Therapeutics,
CVR (1)(3)
25
—
Tourmaline
Bio
1,619
21
Travere
Therapeutics (1)
4,868
40
TScan
Therapeutics (1)
2,713
16
Twist
Bioscience (1)
3,941
194
Tyra
Biosciences (1)
1,429
23
UroGen
Pharma (1)(2)
2,382
40
Vanda
Pharmaceuticals (1)
3,647
21
Vaxcyte (1)
7,464
564
Vera
Therapeutics (1)
2,593
94
Veracyte (1)
5,274
114
Verastem (1)
1,931
6
Vericel (1)
3,321
152
Verve
Therapeutics (1)
4,986
24
Vir
Biotechnology (1)
6,182
55
Viridian
Therapeutics (1)
4,319
56
Voyager
Therapeutics (1)
3,223
25
Werewolf
Therapeutics (1)
2,308
6
X4
Pharmaceuticals (1)
7,572
4
XBiotech (1)
1,387
7
Xencor (1)
4,088
77
XOMA (1)
448
11
Y-mAbs
Therapeutics (1)
2,473
30
Zentalis
Pharmaceuticals (1)
3,906
16
Zura
Bio (1)(2)
1,181
4
Zymeworks (1)
3,558
30
14,706
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Health
Care
Equipment
&
Supplies
3.4%
Accuray (1)
5,982
11
Alphatec
Holdings (1)
7,066
74
AngioDynamics (1)
2,477
15
Artivion (1)
2,734
70
AtriCure (1)
3,257
74
Atrion
91
41
Avanos
Medical (1)
3,044
61
Axogen (1)
2,634
19
Axonics (1)
3,489
235
Bioventus,
Class
A (1)
2,664
15
Cerus (1)
11,452
20
CONMED
2,116
147
CVRx (1)(2)
671
8
Embecta
3,832
48
Fractyl
Health (1)
641
3
Glaukos (1)
3,348
396
Haemonetics (1)
3,435
284
ICU
Medical (1)
1,470
175
Inari
Medical (1)
3,627
175
Inmode (1)
5,463
100
Inogen (1)
1,421
11
Integer
Holdings (1)
2,283
264
Integra
LifeSciences
Holdings (1)
4,702
137
iRadimed
565
25
iRhythm
Technologies (1)
2,141
230
Lantheus
Holdings (1)
4,652
373
LeMaitre
Vascular
1,393
115
LivaNova (1)
3,737
205
Merit
Medical
Systems (1)
3,915
336
Neogen (1)
14,939
233
NeuroPace (1)
1,013
8
Nevro (1)
2,348
20
Novocure (1)
7,306
125
Omnicell (1)
3,138
85
OraSure
Technologies (1)
4,597
20
Orchestra
BioMed
Holdings (1)
1,670
14
Orthofix
Medical (1)
2,404
32
OrthoPediatrics (1)
1,139
33
Paragon
28 (1)
2,806
19
PROCEPT
BioRobotics (1)
2,902
177
Pulmonx (1)
2,386
15
Pulse
Bioscience
Right,
Rights,
6/28/24 (1)(2)
1,025
—
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Pulse
Biosciences (1)(2)
1,183
13
RxSight (1)
2,333
140
Sanara
Medtech (1)
237
7
Semler
Scientific (1)
275
9
SI-BONE (1)
2,678
35
Sight
Sciences (1)
2,499
17
Silk
Road
Medical (1)
2,700
73
STAAR
Surgical (1)
3,391
161
Stereotaxis (1)
4,067
7
Surmodics (1)
919
39
Tactile
Systems
Technology (1)
1,504
18
Tandem
Diabetes
Care (1)
4,437
179
TransMedics
Group (1)
2,196
331
Treace
Medical
Concepts (1)
3,429
23
UFP
Technologies (1)
498
131
Utah
Medical
Products
223
15
Varex
Imaging (1)
2,631
39
Vicarious
Surgical,
Class
A (1)
1
—
Zimvie (1)
1,880
34
Zynex (1)(2)
1,133
11
5,730
Health
Care
Providers
&
Services
2.9%
Accolade (1)
5,157
18
AdaptHealth (1)
7,011
70
Addus
HomeCare (1)
1,081
126
agilon
health (1)
21,159
138
AirSculpt
Technologies (1)(2)
759
3
Alignment
Healthcare (1)
6,912
54
AMN
Healthcare
Services (1)
2,600
133
Astrana
Health (1)
2,958
120
Aveanna
Healthcare
Holdings (1)
3,325
9
BrightSpring
Health
Services (1)
3,735
42
Brookdale
Senior
Living (1)
13,161
90
Castle
Biosciences (1)
1,796
39
Community
Health
Systems (1)
8,050
27
CorVel (1)
608
155
Cross
Country
Healthcare (1)
2,147
30
DocGo (1)
7,147
22
Enhabit (1)
3,351
30
Ensign
Group
3,797
470
Fulgent
Genetics (1)
1,370
27
GeneDx
Holdings (1)
853
22
Guardant
Health (1)
8,081
233
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
HealthEquity (1)
5,790
499
Hims
&
Hers
Health (1)
12,992
262
InfuSystem
Holdings (1)
1,197
8
Innovage
Holding (1)
1,322
7
Joint (1)
918
13
LifeStance
Health
Group (1)
8,275
41
ModivCare (1)
815
21
Nano-X
Imaging (1)(2)
3,800
28
National
HealthCare
858
93
National
Research
958
22
NeoGenomics (1)
8,752
121
OPKO
Health (1)(2)
22,208
28
Option
Care
Health (1)
11,931
330
Owens
&
Minor (1)
5,193
70
PACS
Group (1)
1,718
51
Patterson
5,484
132
Pediatrix
Medical
Group (1)
5,626
42
Pennant
Group (1)
1,888
44
Performant
Financial (1)
4,433
13
PetIQ (1)
1,823
40
Privia
Health
Group (1)
6,956
121
Progyny (1)
5,788
166
Quipt
Home
Medical (1)
2,664
9
RadNet (1)
4,525
267
Select
Medical
Holdings
7,316
257
Sonida
Senior
Living (1)
255
7
Surgery
Partners (1)
5,269
125
Talkspace (1)
8,642
20
U.S.
Physical
Therapy
1,028
95
Viemed
Healthcare (1)
2,148
14
4,804
Health
Care
Technology
0.3%
Definitive
Healthcare (1)
3,765
21
Evolent
Health,
Class
A (1)
7,914
151
Health
Catalyst (1)
3,645
23
HealthStream
1,583
44
LifeMD (1)
2,455
17
OptimizeRx (1)
997
10
Phreesia (1)
3,420
73
Schrodinger (1)
3,827
74
Simulations
Plus
1,035
50
Teladoc
Health (1)
11,683
114
577
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Life
Sciences
Tools
&
Services
0.3%
Adaptive
Biotechnologies (1)
7,266
26
Akoya
Biosciences (1)(2)
1,594
4
BioLife
Solutions (1)
2,450
52
ChromaDex (1)
3,559
10
Codexis (1)
4,265
13
Conduit
Pharmaceuticals (1)
2,132
2
CryoPort (1)
2,835
20
Cytek
Biosciences (1)
7,989
44
Harvard
Bioscience (1)
2,632
7
Lifecore
Biomedical (1)
1,566
8
Maravai
LifeSciences
Holdings,
Class
A (1)
7,625
55
MaxCyte (1)
7,304
29
Mesa
Laboratories
342
30
Nautilus
Biotechnology (1)
3,273
8
Omniab (1)
6,237
23
Omniab,
Earn
Out
Shares
$12.50 (1)
233
—
Omniab,
Earn
Out
Shares
$15.00 (1)
233
—
Pacific
Biosciences
of
California (1)(2)
17,295
24
Quanterix (1)
2,399
32
Quantum-Si (1)(2)
6,502
7
Standard
BioTools (1)
20,929
37
431
Pharmaceuticals
1.6%
Alimera
Sciences (1)
1,567
9
Alto
Neuroscience (1)
660
7
Amneal
Pharmaceuticals (1)
10,958
70
Amphastar
Pharmaceuticals (1)
2,641
106
ANI
Pharmaceuticals (1)
1,272
81
Aquestive
Therapeutics (1)
5,293
14
Arvinas (1)
4,411
117
Atea
Pharmaceuticals (1)
4,920
16
Avadel
Pharmaceuticals (1)
6,353
89
Axsome
Therapeutics (1)
2,496
201
Biote,
Class
A (1)
1,931
14
Cassava
Sciences (1)(2)
2,646
33
Collegium
Pharmaceutical (1)
2,242
72
Contineum
Therapeutics,
Class
A (1)
505
9
Corcept
Therapeutics (1)
5,541
180
CorMedix (1)(2)
3,438
15
Edgewise
Therapeutics (1)
4,991
90
Enliven
Therapeutics (1)
2,430
57
Esperion
Therapeutics (1)
13,154
29
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Evolus (1)
3,831
42
EyePoint
Pharmaceuticals (1)
3,487
30
Fulcrum
Therapeutics (1)
4,330
27
Harmony
Biosciences
Holdings (1)
2,117
64
Harrow (1)(2)
2,116
44
Innoviva (1)
3,837
63
Ligand
Pharmaceuticals (1)
1,170
99
Liquidia (1)(2)
3,985
48
Longboard
Pharmaceuticals (1)
2,235
60
Lyra
Therapeutics (1)
5,483
2
MediWound (1)
585
9
Mind
Medicine
MindMed (1)
4,996
36
Nektar
Therapeutics (1)
12,692
16
Neumora
Therapeutics (1)
5,809
57
Nuvation
Bio (1)
12,460
36
Ocular
Therapeutix (1)(2)
10,712
73
Omeros (1)(2)
3,845
16
Pacira
BioSciences (1)
3,150
90
Phathom
Pharmaceuticals (1)(2)
2,123
22
Phibro
Animal
Health,
Class
A
1,291
22
Pliant
Therapeutics (1)(2)
3,771
41
Prestige
Consumer
Healthcare (1)
3,391
233
Revance
Therapeutics (1)
7,362
19
Scilex
Holding (1)
2,710
5
scPharmaceuticals (1)
1,881
8
SIGA
Technologies
3,016
23
Supernus
Pharmaceuticals (1)
3,451
92
Tarsus
Pharmaceuticals (1)
2,535
69
Telomir
Pharmaceuticals (1)
461
2
Terns
Pharmaceuticals (1)
4,021
27
Theravance
Biopharma (1)
2,503
21
Third
Harmonic
Bio (1)
1,342
17
Trevi
Therapeutics (1)
4,236
13
Ventyx
Biosciences (1)
2,994
7
Verrica
Pharmaceuticals (1)(2)
1,287
9
WaVe
Life
Sciences (1)
5,415
27
Xeris
Biopharma
Holdings (1)
8,544
19
Zevra
Therapeutics (1)
3,009
15
2,712
Total
Health
Care
28,960
INDUSTRIALS
&
BUSINESS
SERVICES
17.2%
Aerospace
&
Defense
1.1%
AAR (1)
2,363
172
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
AeroVironment (1)
1,792
326
AerSale (1)
2,170
15
Archer
Aviation,
Class
A (1)(2)
16,114
57
Astronics (1)
1,988
40
Byrna
Technologies (1)
1,240
12
Cadre
Holdings
1,797
60
Ducommun (1)
897
52
Eve
Holding (1)(2)
1,120
4
Intuitive
Machines (1)
2,106
7
Kratos
Defense
&
Security
Solutions (1)
10,136
203
Leonardo
DRS (1)
5,052
129
Mercury
Systems (1)
3,765
102
Moog,
Class
A
1,943
325
National
Presto
Industries
329
25
Park
Aerospace
1,194
16
Redwire (1)(2)
1,629
12
Rocket
Lab
USA (1)(2)
23,882
115
Terran
Orbital (1)(2)
11,386
9
Triumph
Group (1)
4,241
65
V2X (1)
852
41
Virgin
Galactic
Holdings (1)(2)
1,138
10
VirTra (1)
796
6
1,803
Air
Freight
&
Logistics
0.2%
Air
Transport
Services
Group (1)
3,406
47
Forward
Air (2)
1,666
32
Hub
Group,
Class
A
4,184
180
Radiant
Logistics (1)
2,263
13
272
Building
Products
1.4%
American
Woodmark (1)
1,061
83
Apogee
Enterprises
1,502
94
AZZ
2,013
155
Caesarstone (1)
1,525
8
CSW
Industrials
1,060
281
Gibraltar
Industries (1)
2,098
144
Griffon
2,650
169
Insteel
Industries
1,243
38
Janus
International
Group (1)
9,736
123
JELD-WEN
Holding (1)
5,912
80
Masterbrand (1)
8,693
128
Quanex
Building
Products
2,165
60
Resideo
Technologies (1)
10,006
196
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Tecnoglass
1,545
77
UFP
Industries
4,139
464
Zurn
Elkay
Water
Solutions
9,961
293
2,393
Commercial
Services
&
Supplies
1.8%
ABM
Industries
4,331
219
ACCO
Brands
6,176
29
ACV
Auctions,
Class
A (1)
10,139
185
Aris
Water
Solutions,
Class
A
1,905
30
Bridger
Aerospace
Group
Holdings (1)
759
3
BrightView
Holdings (1)
3,065
41
Brink's
3,076
315
Casella
Waste
Systems,
Class
A (1)
3,915
388
CECO
Environmental (1)
1,925
56
Cimpress (1)
1,242
109
CompX
International
107
3
CoreCivic (1)
7,506
97
Deluxe
3,049
68
Driven
Brands
Holdings (1)
4,140
53
Ennis
1,697
37
Enviri (1)
5,103
44
GEO
Group (1)
8,530
122
Healthcare
Services
Group (1)
4,829
51
HNI
3,222
145
Interface
3,772
55
LanzaTech
Global (1)(2)
8,002
15
Li-Cycle
Holdings (1)(2)
1
—
Liquidity
Services (1)
1,545
31
Matthews
International,
Class
A
1,958
49
MillerKnoll
4,783
127
Montrose
Environmental
Group (1)
2,184
97
NL
Industries
586
4
OPENLANE (1)
7,369
122
Perma-Fix
Environmental
Services (1)
916
9
Pitney
Bowes
10,948
56
Quad/Graphics
1,871
10
Quest
Resource
Holding (1)
1,245
11
Steelcase,
Class
A
6,366
82
UniFirst
1,031
177
Viad (1)
1,315
45
Virco
Mfg.
754
11
VSE
939
83
2,979
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Construction
&
Engineering
1.5%
Ameresco,
Class
A (1)
2,109
61
Arcosa
3,322
277
Argan
827
60
Bowman
Consulting
Group (1)
931
30
Centuri
Holdings (1)
961
19
Concrete
Pumping
Holdings (1)
1,543
9
Construction
Partners,
Class
A (1)
2,943
162
Dycom
Industries (1)
1,944
328
Fluor (1)
11,677
509
Granite
Construction
3,018
187
Great
Lakes
Dredge
&
Dock (1)
3,541
31
IES
Holdings (1)
573
80
Limbach
Holdings (1)
708
40
Matrix
Service (1)
1,864
19
MYR
Group (1)
1,139
155
Northwest
Pipe (1)
630
21
Orion
Group
Holdings (1)
2,152
20
Primoris
Services
3,662
183
Southland
Holdings (1)
184
1
Sterling
Infrastructure (1)
2,070
245
Tutor
Perini (1)
2,982
65
2,502
Electrical
Equipment
1.6%
Allient
1,020
26
American
Superconductor (1)
2,356
55
Amprius
Technologies (1)
263
—
Array
Technologies (1)
10,486
108
Atkore
2,514
339
Blink
Charging (1)
6,804
19
Bloom
Energy,
Class
A (1)(2)
13,631
167
ChargePoint
Holdings (1)
26,893
41
Encore
Wire
988
286
Energy
Vault
Holdings (1)(2)
6,837
6
EnerSys
2,739
283
Enovix (1)(2)
10,189
157
Fluence
Energy (1)(2)
4,189
73
Freyr
Battery (1)
7,991
14
FuelCell
Energy (1)(2)
30,478
19
GrafTech
International
18,366
18
LSI
Industries
1,791
26
Net
Power (1)
1,498
15
NEXTracker,
Class
A (1)
7,950
373
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
NuScale
Power (1)
5,348
62
Plug
Power (1)
43,341
101
Powell
Industries
642
92
Preformed
Line
Products
154
19
SES
AI (1)(2)
7,944
10
Shoals
Technologies
Group,
Class
A (1)
11,804
74
SolarMax
Technology (1)
481
1
Solidion
Technology (1)
1,896
1
Stem (1)
9,166
10
SunPower (1)(2)
5,629
17
Sunrun (1)
14,974
178
Thermon
Group
Holdings (1)
2,296
71
TPI
Composites (1)(2)
2,641
10
Ultralife (1)
742
8
Vicor (1)
1,485
49
2,728
Ground
Transportation
0.5%
ArcBest
1,614
173
Covenant
Logistics
Group
533
26
FTAI
Infrastructure
6,947
60
Heartland
Express
3,017
37
Hertz
Global
Holdings (1)
8,545
30
Marten
Transport
3,815
70
PAM
Transportation
Services (1)
432
8
RXO (1)
7,986
209
Universal
Logistics
Holdings
435
18
Werner
Enterprises
4,338
155
786
Industrial
Conglomerates
0.0%
Brookfield
Business,
Class
A
1,756
36
36
Machinery
3.8%
374Water (1)(2)
4,150
5
3D
Systems (1)
8,735
27
Alamo
Group
703
122
Albany
International,
Class
A
2,139
181
Astec
Industries
1,500
44
Atmus
Filtration
Technologies (1)
5,744
165
Barnes
Group
3,174
131
Blue
Bird (1)
2,207
119
Chart
Industries (1)
2,888
417
Columbus
McKinnon
1,958
68
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Commercial
Vehicle
Group (1)
2,104
10
Desktop
Metal,
Class
A (1)
1
—
Douglas
Dynamics
1,502
35
Eastern
379
10
Energy
Recovery (1)
3,670
49
Enerpac
Tool
Group
3,730
142
Enpro
1,439
209
ESCO
Technologies
1,774
186
Federal
Signal
4,115
344
Franklin
Electric
3,101
299
Gencor
Industries (1)
656
13
Gorman-Rupp
1,429
52
Graham (1)
721
20
Greenbrier
2,108
104
Helios
Technologies
2,284
109
Hillenbrand
4,812
193
Hillman
Solutions (1)
13,490
119
Hyliion
Holdings (1)(2)
9,474
15
Hyster-Yale
791
55
John
Bean
Technologies
2,177
207
Kadant
803
236
Kennametal
5,437
128
L
B
Foster,
Class
A (1)
646
14
Lindsay
754
93
Luxfer
Holdings
1,687
19
Manitowoc (1)
2,334
27
Mayville
Engineering (1)
701
12
Miller
Industries
714
39
Mueller
Industries
7,643
435
Mueller
Water
Products,
Class
A
10,645
191
Nikola (1)
1
—
NN (1)
3,332
10
Omega
Flex
210
11
Park-Ohio
Holdings
553
14
Proto
Labs (1)
1,710
53
REV
Group
3,530
88
Shyft
Group
2,164
26
SPX
Technologies (1)
3,079
438
Standex
International
798
129
Taylor
Devices (1)
176
8
Tennant
1,300
128
Terex
4,562
250
Titan
International (1)
3,468
26
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Trinity
Industries
5,602
168
Twin
Disc
811
9
Velo3D (1)
1
—
Wabash
National
3,022
66
Watts
Water
Technologies,
Class
A
1,874
344
6,412
Marine
Transportation
0.3%
Costamare
2,989
49
Genco
Shipping
&
Trading
2,768
59
Golden
Ocean
Group
8,122
112
Himalaya
Shipping
1,956
18
Matson
2,328
305
Pangaea
Logistics
Solutions
2,295
18
Safe
Bulkers
4,249
25
586
Passenger
Airlines
0.4%
Allegiant
Travel
1,041
52
Blade
Air
Mobility (1)
3,654
13
Frontier
Group
Holdings (1)(2)
2,472
12
Hawaiian
Holdings (1)
3,334
41
JetBlue
Airways (1)
20,887
127
Joby
Aviation (1)(2)
27,564
141
SkyWest (1)
2,713
223
Spirit
Airlines
7,374
27
Sun
Country
Airlines
Holdings (1)
2,884
36
Wheels
Up
Experience (1)
6,435
12
684
Professional
Services
2.4%
Alight,
Class
A (1)
32,525
240
Asure
Software (1)
1,410
12
Barrett
Business
Services
1,676
55
BlackSky
Technology (1)(2)
8,616
9
CBIZ (1)
3,282
243
Conduent (1)
11,568
38
CRA
International
447
77
CSG
Systems
International
2,035
84
DLH
Holdings (1)
633
7
ExlService
Holdings (1)
10,756
337
Exponent
3,459
329
First
Advantage
3,557
57
FiscalNote
Holdings (1)(2)
3,954
6
Forrester
Research (1)
773
13
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Franklin
Covey (1)
743
28
Heidrick
&
Struggles
International
1,316
41
HireQuest
364
4
Huron
Consulting
Group (1)
1,205
119
IBEX (1)
669
11
ICF
International
1,277
190
Innodata (1)
1,669
25
Insperity
2,459
224
Kelly
Services,
Class
A
2,023
43
Kforce
1,285
80
Korn
Ferry
3,556
239
Legalzoom.com (1)
9,484
79
Maximus
4,174
358
Mistras
Group (1)
1,276
11
NV5
Global (1)
981
91
Planet
Labs
PBC (1)
11,338
21
Resources
Connection
2,072
23
Spire
Global (1)
1,576
17
Sterling
Check (1)
2,305
34
TriNet
Group
2,228
223
TrueBlue (1)
1,946
20
TTEC
Holdings
1,156
7
Upwork (1)
8,562
92
Verra
Mobility (1)
11,394
310
Willdan
Group (1)
789
23
WNS
Holdings (1)
3,177
167
3,987
Trading
Companies
&
Distributors
2.2%
Alta
Equipment
Group
1,613
13
Applied
Industrial
Technologies
2,631
510
Beacon
Roofing
Supply (1)
4,358
394
BlueLinx
Holdings (1)
557
52
Boise
Cascade
2,711
323
Custom
Truck
One
Source (1)
3,647
16
Distribution
Solutions
Group (1)
643
19
DNOW (1)
7,411
102
DXP
Enterprises (1)
883
41
EVI
Industries
423
8
FTAI
Aviation
6,811
703
GATX
2,443
323
Global
Industrial
951
30
GMS (1)
2,742
221
H&E
Equipment
Services
2,216
98
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Herc
Holdings
1,927
257
Hudson
Technologies (1)
2,983
26
Karat
Packaging
420
12
McGrath
RentCorp
1,672
178
MRC
Global (1)
5,802
75
Rush
Enterprises,
Class
A
4,169
175
Rush
Enterprises,
Class
B
581
23
Titan
Machinery (1)
1,375
22
Transcat (1)
594
71
Willis
Lease
Finance
179
12
Xometry,
Class
A (1)(2)
2,921
34
3,738
Transportation
Infrastructure
0.0%
Sky
Harbour
Group (1)
837
8
8
Total
Industrials
&
Business
Services
28,914
INFORMATION
TECHNOLOGY
13.3%
Communications
Equipment
0.6%
ADTRAN
Holdings
4,985
26
Applied
Optoelectronics (1)
2,594
21
Aviat
Networks (1)
728
21
Calix (1)
4,032
143
Clearfield (1)(2)
825
32
CommScope
Holding (1)
13,437
17
Digi
International (1)
2,335
54
Extreme
Networks (1)
8,624
116
Harmonic (1)
7,594
89
Infinera (1)(2)
13,098
80
NETGEAR (1)
1,847
28
NetScout
Systems (1)
4,756
87
Ribbon
Communications (1)
5,817
19
Viasat (1)
8,332
106
Viavi
Solutions (1)
15,124
104
943
Electronic
Equipment,
Instruments
&
Components
3.1%
908
Devices (1)
1,445
7
Advanced
Energy
Industries
2,562
279
Aeva
Technologies (1)
1,000
3
Arlo
Technologies (1)
6,545
85
Badger
Meter
2,011
375
Bel
Fuse,
Class
A
126
10
Bel
Fuse,
Class
B
704
46
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Belden
2,776
260
Benchmark
Electronics
2,452
97
Climb
Global
Solutions
263
17
CTS
2,037
103
Daktronics (1)
2,438
34
ePlus (1)
1,806
133
Evolv
Technologies
Holdings (1)
9,178
23
Fabrinet (1)
2,494
611
FARO
Technologies (1)
1,302
21
Insight
Enterprises (1)
1,909
379
Iteris (1)
2,763
12
Itron (1)
3,144
311
Kimball
Electronics (1)
1,701
37
Knowles (1)
6,065
105
Lightwave
Logic (1)(2)
7,827
23
Methode
Electronics
2,153
22
MicroVision (1)(2)
12,202
13
Mirion
Technologies (1)
13,704
147
Napco
Security
Technologies
2,415
125
nLight (1)
3,196
35
Novanta (1)
2,454
400
OSI
Systems (1)
1,109
153
Ouster (1)
3,012
30
PAR
Technology (1)
2,314
109
PC
Connection
800
51
Plexus (1)
1,862
192
Powerfleet (1)
6,305
29
Richardson
Electronics
755
9
Rogers (1)
1,287
155
Sanmina (1)
3,753
249
ScanSource (1)
1,721
76
SmartRent (1)
13,458
32
TTM
Technologies (1)
6,925
135
Vishay
Intertechnology
8,654
193
Vishay
Precision
Group (1)
791
24
5,150
IT
Services
0.8%
Applied
Digital (1)(2)
6,824
41
ASGN (1)
3,089
272
Backblaze,
Class
A (1)
2,821
17
BigBear.ai
Holdings (1)(2)
7,386
11
BigCommerce
Holdings,
Series
1 (1)(2)
4,896
39
Core
Scientific (1)
12,243
114
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Couchbase (1)
2,689
49
DigitalOcean
Holdings (1)
4,501
156
Fastly,
Class
A (1)
8,877
65
Grid
Dynamics
Holdings (1)
3,799
40
Hackett
Group
1,648
36
Information
Services
Group
2,132
6
Perficient (1)
2,378
178
Rackspace
Technology (1)(2)
4,030
12
Squarespace,
Class
A (1)
4,160
182
Thoughtworks
Holding (1)(2)
5,969
17
Tucows,
Class
A (1)(2)
604
12
Unisys (1)
4,481
19
1,266
Semiconductors
&
Semiconductor
Equipment
2.6%
ACM
Research,
Class
A (1)
3,506
81
Aehr
Test
Systems (1)
1,727
19
Alpha
&
Omega
Semiconductor (1)
1,546
58
Ambarella (1)
2,599
140
Axcelis
Technologies (1)
2,230
317
CEVA (1)
1,489
29
Cohu (1)
3,180
105
Credo
Technology
Group
Holding (1)
8,713
278
Diodes (1)
3,124
225
Everspin
Technologies (1)
1,426
9
FormFactor (1)
5,299
321
GCT
Semiconductor
Holding (1)
632
3
Ichor
Holdings (1)
2,238
86
Impinj (1)
1,533
240
indie
Semiconductor,
Class
A (1)(2)
11,297
70
Kulicke
&
Soffa
Industries
3,760
185
MaxLinear (1)
5,427
109
Navitas
Semiconductor (1)
8,774
35
NVE
325
24
PDF
Solutions (1)
2,141
78
Photronics (1)
4,232
104
Power
Integrations
3,874
272
QuickLogic (1)
997
10
Rambus (1)
7,445
437
Rigetti
Computing (1)
10,204
11
Semtech (1)
4,445
133
Silicon
Laboratories (1)
2,169
240
SiTime (1)
1,260
157
SkyWater
Technology (1)
1,947
15
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
SMART
Global
Holdings (1)
3,392
78
Synaptics (1)
2,669
235
Ultra
Clean
Holdings (1)
3,035
149
Veeco
Instruments (1)
3,809
178
4,431
Software
6.0%
8x8 (1)
7,907
18
A10
Networks
4,885
68
ACI
Worldwide (1)
7,220
286
Adeia
7,485
84
Agilysys (1)
1,517
158
Airship
AI
Holdings (1)
382
1
Alarm.com
Holdings (1)
3,305
210
Alkami
Technology (1)
3,028
86
Altair
Engineering,
Class
A (1)
3,911
384
American
Software,
Class
A
2,069
19
Amplitude,
Class
A (1)
5,286
47
Appian,
Class
A (1)
2,769
85
Arteris (1)
1,963
15
Asana,
Class
A (1)(2)
5,435
76
AudioEye (1)
511
9
Aurora
Innovation (1)(2)
57,646
160
AvePoint (1)
8,653
90
Bit
Digital (1)
8,181
26
Blackbaud (1)
2,814
214
BlackLine (1)
3,955
192
Blend
Labs,
Class
A (1)
16,019
38
Box,
Class
A (1)
9,642
255
Braze,
Class
A (1)
3,512
136
C3.ai,
Class
A (1)(2)
5,666
164
Cerence (1)
2,632
7
Cipher
Mining (1)
11,935
50
Cleanspark (1)
15,173
242
Clearwater
Analytics
Holdings,
Class
A (1)
9,595
178
CommVault
Systems (1)
2,987
363
Consensus
Cloud
Solutions (1)
1,250
21
CS
Disco (1)
2,123
13
Daily
Journal (1)
89
35
Dave (1)
553
17
Digimarc (1)(2)
1,057
33
Digital
Turbine (1)
6,217
10
Domo,
Class
B (1)
2,077
16
D-Wave
Quantum (1)
6,477
7
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
E2open
Parent
Holdings (1)
11,323
51
eGain (1)
1,280
8
Enfusion,
Class
A (1)
3,380
29
Envestnet (1)
3,471
217
Everbridge (1)
2,863
100
EverCommerce (1)
1,508
17
Freshworks,
Class
A (1)
13,971
177
Hut
8 (1)
5,516
83
iLearningEngines
Holdings (1)
2,068
19
Instructure
Holdings (1)(2)
1,536
36
Intapp (1)
2,608
96
InterDigital (2)
1,733
202
Jamf
Holding (1)
5,102
84
Kaltura (1)
5,271
6
LiveRamp
Holdings (1)
4,471
138
Marathon
Digital
Holdings (1)(2)
18,706
371
Matterport (1)
18,029
81
MeridianLink (1)
1,870
40
Mitek
Systems (1)
3,216
36
N-able (1)
4,917
75
NCR
Voyix (1)
9,984
123
NextNav (1)
5,200
42
Olo,
Class
A (1)
6,883
30
ON24 (1)
1,858
11
OneSpan (1)
2,562
33
Ooma (1)
1,529
15
Pagaya
Technologies,
Class
A (1)
2,804
36
PagerDuty (1)
6,121
140
Porch
Group (1)
5,648
9
PowerSchool
Holdings,
Class
A (1)
4,092
92
Prairie
Operating (1)
336
4
Progress
Software
2,895
157
PROS
Holdings (1)(2)
3,143
90
Q2
Holdings (1)
4,028
243
Qualys (1)
2,540
362
Rapid7 (1)
4,241
183
Red
Violet (1)
720
18
Rekor
Systems (1)
5,217
8
ReposiTrak
838
13
Rimini
Street (1)
3,240
10
Riot
Platforms (1)(2)
18,602
170
Roadzen (1)
1,317
3
Sapiens
International
2,019
68
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
SEMrush
Holdings,
Class
A (1)
2,525
34
SolarWinds
3,768
45
SoundHound
AI,
Class
A (1)(2)
19,528
77
SoundThinking (1)
643
8
Sprinklr,
Class
A (1)
6,812
66
Sprout
Social,
Class
A (1)
3,390
121
SPS
Commerce (1)
2,544
479
Telos (1)
3,984
16
Tenable
Holdings (1)
8,068
352
Terawulf (1)
15,849
70
Varonis
Systems (1)
7,543
362
Verint
Systems (1)
4,236
136
Vertex,
Class
A (1)
3,722
134
Viant
Technology,
Class
A (1)
903
9
Weave
Communications (1)
2,745
25
WM
Technology (1)
6,268
6
Workiva (1)
3,457
252
Xperi (1)
2,780
23
Yext (1)(2)
7,097
38
Zeta
Global
Holdings,
Class
A (1)
11,268
199
Zuora,
Class
A (1)
8,768
87
10,078
Technology
Hardware,
Storage
&
Peripherals
0.2%
CompoSecure,
Class
A (2)
1,109
7
Corsair
Gaming (1)
3,108
34
CPI
Card
Group (1)
287
8
Diebold
Nixdorf (1)
1,742
67
Eastman
Kodak (1)
4,252
23
Immersion
1,984
19
IonQ (1)(2)
13,632
96
Turtle
Beach (1)
1,052
15
Xerox
Holdings
7,730
90
359
Total
Information
Technology
22,227
MATERIALS
4.6%
Chemicals
2.0%
AdvanSix
1,689
39
American
Vanguard
1,718
15
Arcadium
Lithium (1)(2)
74,191
249
Arq (1)
1,785
11
ASP
Isotopes (1)
2,894
9
Aspen
Aerogels (1)
4,003
95
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Avient
6,184
270
Balchem
2,213
341
Cabot
3,710
341
Core
Molding
Technologies (1)
440
7
Danimer
Scientific,
Warrants,
7/15/25 (1)
1,922
—
Ecovyst (1)
8,012
72
Hawkins
1,327
121
HB
Fuller
3,749
289
Ingevity (1)
2,501
109
Innospec
1,708
211
Intrepid
Potash (1)
734
17
Koppers
Holdings
1,323
49
Kronos
Worldwide
1,377
17
LSB
Industries (1)
3,431
28
Mativ
Holdings
3,527
60
Minerals
Technologies
2,200
183
Northern
Technologies
International
572
9
Orion
3,958
87
Perimeter
Solutions (1)
9,124
71
PureCycle
Technologies (1)(2)
8,519
50
Quaker
Chemical
958
163
Rayonier
Advanced
Materials (1)
4,369
24
Sensient
Technologies
2,885
214
Stepan
1,465
123
Tronox
Holdings
8,150
128
Valhi (2)
173
3
3,405
Construction
Materials
0.4%
Knife
River (1)
3,890
273
Smith-Midland (1)
327
9
Summit
Materials,
Class
A (1)
8,287
303
United
States
Lime
&
Minerals
136
50
635
Containers
&
Packaging
0.3%
Ardagh
Metal
Packaging
10,035
34
Greif,
Class
A
1,712
98
Greif,
Class
B
340
21
Myers
Industries
2,440
33
O-I
Glass (1)
10,633
118
Pactiv
Evergreen
2,629
30
Ranpak
Holdings (1)
2,766
18
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
TriMas
2,722
70
422
Metals
&
Mining
1.8%
Alpha
Metallurgical
Resources
749
210
Arch
Resources
1,185
180
Caledonia
Mining
1,097
11
Carpenter
Technology
3,257
357
Century
Aluminum (1)
3,643
61
Coeur
Mining (1)
27,090
152
Commercial
Metals
7,916
435
Compass
Minerals
International
2,295
24
Constellium (1)
8,876
167
Contango
ORE (1)(2)
488
9
Dakota
Gold (1)
4,056
10
Haynes
International
836
49
Hecla
Mining
39,448
191
i-80
Gold (1)
18,335
20
Ivanhoe
Electric (1)
5,771
54
Kaiser
Aluminum
1,099
96
Lifezone
Metals (1)
2,572
20
Materion
1,412
153
Metallus (1)
2,813
57
Metals
Acquisition,
Class
A (1)
3,724
51
Novagold
Resources (1)
15,960
55
Olympic
Steel
772
35
Perpetua
Resources (1)
2,437
13
Piedmont
Lithium (1)(2)
1,238
12
Radius
Recycling
1,753
27
Ramaco
Resources,
Class
A
1,865
23
Ramaco
Resources,
Class
B
240
3
Ryerson
Holding
1,884
37
SSR
Mining
13,987
63
SunCoke
Energy
5,504
54
Tredegar
1,629
8
Universal
Stainless
&
Alloy
Products (1)
615
17
Warrior
Met
Coal
3,550
223
Worthington
Steel
2,240
75
2,952
Paper
&
Forest
Products
0.1%
Clearwater
Paper (1)
1,094
53
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Sylvamo
2,411
165
218
Total
Materials
7,632
REAL
ESTATE
5.9%
Diversified
Real
Estate
Investment
Trusts
0.6%
Alexander
&
Baldwin,
REIT
5,007
85
Alpine
Income
Property
Trust,
REIT
821
13
American
Assets
Trust,
REIT
3,204
72
Armada
Hoffler
Properties,
REIT
4,364
48
Broadstone
Net
Lease,
REIT
12,922
205
CTO
Realty
Growth,
REIT
1,415
25
Empire
State
Realty
Trust,
Class
A,
REIT
9,220
86
Essential
Properties
Realty
Trust,
REIT
12,006
333
Gladstone
Commercial,
REIT
2,561
37
Global
Net
Lease,
REIT
13,795
101
NexPoint
Diversified
Real
Estate
Trust,
REIT (2)
2,128
12
One
Liberty
Properties,
REIT
1,034
24
1,041
Health
Care
Real
Estate
Investment
Trusts
0.6%
American
Healthcare
REIT,
REIT
4,481
66
CareTrust
REIT,
REIT
9,283
233
Community
Healthcare
Trust,
REIT
1,730
40
Diversified
Healthcare
Trust,
REIT
15,724
48
Global
Medical
REIT,
REIT
4,063
37
LTC
Properties,
REIT
2,951
102
National
Health
Investors,
REIT
2,867
194
Sabra
Health
Care
REIT,
REIT
15,845
244
Strawberry
Fields
REIT
450
5
Universal
Health
Realty
Income
Trust,
REIT
822
32
1,001
Hotel
&
Resort
Real
Estate
Investment
Trusts
0.8%
Apple
Hospitality
REIT,
REIT
15,613
227
Braemar
Hotels
&
Resorts,
REIT
4,015
10
Chatham
Lodging
Trust,
REIT
3,223
27
DiamondRock
Hospitality,
REIT
14,442
122
Pebblebrook
Hotel
Trust,
REIT
8,199
113
RLJ
Lodging
Trust,
REIT
10,122
97
Ryman
Hospitality
Properties,
REIT
4,012
401
Service
Properties
Trust,
REIT
10,832
56
Summit
Hotel
Properties,
REIT
6,771
41
Sunstone
Hotel
Investors,
REIT
13,949
146
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Xenia
Hotels
&
Resorts,
REIT
6,835
98
1,338
Industrial
Real
Estate
Investment
Trusts
0.5%
Industrial
Logistics
Properties
Trust,
REIT
4,620
17
Innovative
Industrial
Properties,
REIT
1,931
211
LXP
Industrial
Trust,
REIT
19,918
182
Plymouth
Industrial
REIT,
REIT
2,734
58
Terreno
Realty,
REIT
6,535
387
855
Office
Real
Estate
Investment
Trusts
0.7%
Brandywine
Realty
Trust,
REIT
10,998
49
City
Office
REIT,
REIT
2,414
12
COPT
Defense
Properties,
REIT
7,714
193
Douglas
Emmett,
REIT
11,075
147
Easterly
Government
Properties,
REIT
6,678
83
Equity
Commonwealth,
REIT (1)
7,255
141
Franklin
Street
Properties,
REIT
7,040
11
Hudson
Pacific
Properties,
REIT
9,106
44
JBG
SMITH
Properties,
REIT
6,072
92
NET
Lease
Office
Properties,
REIT
1,038
26
Orion
Office
REIT,
REIT
3,576
13
Paramount
Group,
REIT
12,179
56
Peakstone
Realty
Trust,
REIT
2,409
25
Piedmont
Office
Realty
Trust,
Class
A,
REIT
8,241
60
Postal
Realty
Trust,
Class
A,
REIT
1,311
17
SL
Green
Realty,
REIT
4,548
258
1,227
Real
Estate
Management
&
Development
0.7%
American
Realty
Investors (1)(2)
57
1
Anywhere
Real
Estate (1)
7,102
24
Compass,
Class
A (1)
25,060
90
Cushman
&
Wakefield (1)
15,697
163
DigitalBridge
Group
10,651
146
eXp
World
Holdings (2)
5,583
63
Forestar
Group (1)
1,216
39
FRP
Holdings (1)
844
24
Kennedy-Wilson
Holdings
7,854
76
Marcus
&
Millichap
1,565
49
Maui
Land
&
Pineapple (1)
466
10
Newmark
Group,
Class
A
9,385
96
Offerpad
Solutions (1)
855
4
Opendoor
Technologies (1)
42,629
79
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
RE/MAX
Holdings,
Class
A
1,141
9
Real
Brokerage (1)
6,644
27
Redfin (1)
8,110
49
RMR
Group,
Class
A
985
22
St.
Joe
2,473
135
Star
Holdings (1)
776
9
Stratus
Properties (1)
369
9
Tejon
Ranch (1)
1,336
23
Transcontinental
Realty
Investors (1)
92
3
1,150
Residential
Real
Estate
Investment
Trusts
0.4%
Apartment
Investment
&
Management,
Class
A,
REIT (1)
6,996
58
BRT
Apartments,
REIT
726
13
Centerspace,
REIT
992
67
Clipper
Realty,
REIT
737
3
Elme
Communities,
REIT
6,048
96
Independence
Realty
Trust,
REIT
15,469
290
NexPoint
Residential
Trust,
REIT
1,565
62
UMH
Properties,
REIT
4,398
70
Veris
Residential,
REIT
5,186
78
737
Retail
Real
Estate
Investment
Trusts
1.2%
Acadia
Realty
Trust,
REIT
6,935
124
Alexander's,
REIT
144
32
CBL
&
Associates
Properties,
REIT
1,549
36
Getty
Realty,
REIT
3,402
91
InvenTrust
Properties,
REIT
4,678
116
Kite
Realty
Group
Trust,
REIT
14,860
332
Macerich,
REIT
14,838
229
NETSTREIT,
REIT (2)
5,071
81
Phillips
Edison,
REIT
8,404
275
Retail
Opportunity
Investments,
REIT
8,512
106
Saul
Centers,
REIT
764
28
SITE
Centers,
REIT
13,016
189
Tanger,
REIT
7,293
198
Urban
Edge
Properties,
REIT
8,215
152
Whitestone
REIT,
REIT
3,141
42
2,031
Specialized
Real
Estate
Investment
Trusts
0.4%
Farmland
Partners,
REIT (2)
2,851
33
Four
Corners
Property
Trust,
REIT
6,291
155
Gladstone
Land,
REIT
2,243
31
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Outfront
Media,
REIT
10,150
145
PotlatchDeltic,
REIT
5,440
214
Safehold,
REIT
3,567
69
Uniti
Group,
REIT
15,461
45
692
Total
Real
Estate
10,072
TRUSTS
&
FUNDS
0.1%
Trusts
&
Mutual
Funds
0.1%
iShares
Russell
2000
ETF
410
83
Seven
Hills
Realty
Trust,
REIT
900
12
Total
Trusts
&
Funds
95
UTILITIES
2.8%
Electric
Utilities
0.8%
ALLETE
3,977
248
Genie
Energy,
Class
B
880
13
Hawaiian
Electric
Industries
7,659
69
MGE
Energy
2,497
186
Otter
Tail
2,832
248
PNM
Resources
6,166
228
Portland
General
Electric
6,956
301
1,293
Gas
Utilities
1.0%
Brookfield
Infrastructure,
Class
A
8,215
277
Chesapeake
Utilities
1,516
161
New
Jersey
Resources
6,724
288
Northwest
Natural
Holding
2,606
94
ONE
Gas
3,856
246
RGC
Resources
497
10
Southwest
Gas
Holdings
4,168
293
Spire
3,704
225
1,594
Independent
Power
&
Renewable
Electricity
Producers
0.2%
Altus
Power (1)
5,336
21
Montauk
Renewables (1)
4,269
24
Ormat
Technologies
3,694
265
Sunnova
Energy
International (1)(2)
7,510
42
352
Multi-Utilities
0.4%
Avista
5,365
186
Black
Hills
4,697
255
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Northwestern
Energy
Group
4,222
212
Unitil
1,050
54
707
Water
Utilities
0.4%
American
States
Water
2,555
186
Cadiz (1)(2)
2,490
8
California
Water
Service
Group
3,966
192
Consolidated
Water
1,010
27
Global
Water
Resources
743
9
Middlesex
Water
1,152
60
Pure
Cycle (1)
1,344
13
SJW
Group
2,220
120
York
Water
948
35
650
Total
Utilities
4,596
Total
Common
Stocks
(Cost
$169,328)
167,873
SHORT-TERM
INVESTMENTS
0.3%
Money
Market
Funds
0.2%
T.
Rowe
Price
Government
Reserve
Fund,
5.38% (4)(5)
392,870
393
393
U.S.
Treasury
Obligations
0.1%
U.S.
Treasury
Bills,
5.294%,
9/19/24 (6)
76,000
75
75
Total
Short-Term
Investments
(Cost
$468)
468
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
SECURITIES
LENDING
COLLATERAL
4.0%
INVESTMENTS
IN
A
POOLED
ACCOUNT
THROUGH
SECURITIES
LENDING
PROGRAM
WITH
STATE
STREET
BANK
AND
TRUST
COMPANY 4.0%
Money
Market
Funds 4.0%
T.
Rowe
Price
Government
Reserve
Fund,
5.38% (4)(5)
6,739,067
6,739
Total
Investments
in
a
Pooled
Account
through
Securities
Lending
Program
with
State
Street
Bank
and
Trust
Company
6,739
Total
Securities
Lending
Collateral
(Cost
$6,739)
6,739
Total
Investments
in
Securities
104.3%
of
Net
Assets
(Cost
$176,535)
$
175,080
‡
Shares/Par
and
Notional
Amount
are
denominated
in
U.S.
dollars
unless
otherwise
noted.
(1)
Non-income
producing
(2)
See
Note
4
.
All
or
a
portion
of
this
security
is
on
loan
at
June
30,
2024.
(3)
See
Note
2.
Level
3
in
fair
value
hierarchy.
(4)
Seven-day
yield
(5)
Affiliated
Companies
(6)
At
June
30,
2024,
all
or
a
portion
of
this
security
is
pledged
as
collateral
and/
or
margin
deposit
to
cover
future
funding
obligations.
CVR
Contingent
Value
Rights
EC
Escrow
CUSIP;
represents
a
beneficial
interest
in
a
residual
pool
of
assets;
the
amount
and
timing
of
future
distributions,
if
any,
is
uncertain;
when
presented,
interest
rate
and
maturity
date
are
those
of
the
original
security.
ETF
Exchange-Traded
Fund
REIT
A
domestic
Real
Estate
Investment
Trust
whose
distributions
pass-through
with
original
tax
character
to
the
shareholder
T.
ROWE
PRICE
Small-Cap
Index
Fund
FUTURES
CONTRACTS
($000s)
Expiration
Date
Notional
Amount
Value
and
Unrealized
Gain
(Loss)
Long,
5
Russell
2000
E-Mini
Index
contracts
9/24
516
$
3
Net
payments
(receipts)
of
variation
margin
to
date
(2)
Variation
margin
receivable
(payable)
on
open
futures
contracts
$
1
T.
ROWE
PRICE
Small-Cap
Index
Fund
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
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
six
months
ended
June
30,
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,
5.38%
$
—
$
—
$
23++
Totals
$
—#
$
—
$
23+
Supplementary
Investment
Schedule
Affiliate
Value
12/31/23
Purchase
Cost
Sales
Cost
Value
06/30/24
T.
Rowe
Price
Government
Reserve
Fund,
5.38%
$
10,815
¤
¤
$
7,132
Total
$
7,132^
#
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
as
described
in
Note
4
.
+
Investment
income
comprised
$23
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
$7,132.
T.
ROWE
PRICE
Small-Cap
Index
Fund
June
30,
2024
(Unaudited)
Statement
of
Assets
and
Liabilities
($000s,
except
shares
and
per
share
amounts)
Assets
Investments
in
securities,
at
value
(cost
$176,535)
$
175,080
Receivable
for
investment
securities
sold
16,717
Dividends
receivable
159
Receivable
for
shares
sold
110
Cash
78
Due
from
affiliates
1
Variation
margin
receivable
on
futures
contracts
1
Other
assets
15
Total
assets
192,161
Liabilities
Payable
for
investment
securities
purchased
17,443
Obligation
to
return
securities
lending
collateral
6,739
Investment
management
fees
payable
12
Payable
for
shares
redeemed
3
Other
liabilities
49
Total
liabilities
24,246
Commitments
and
Contingent
Liabilities
(note
7
)
NET
ASSETS
$
167,915
T.
ROWE
PRICE
Small-Cap
Index
Fund
June
30,
2024
(Unaudited)
Statement
of
Assets
and
Liabilities
($000s,
except
shares
and
per
share
amounts)
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
Net
Assets
Consist
of:
Total
distributable
earnings
(loss)
$
421
Paid-in
capital
applicable
to
11,413,783
shares
of
$0.0001
par
value
capital
stock
outstanding;
2,000,000,000
shares
of
the
Corporation
authorized
167,494
NET
ASSETS
$
167,915
NET
ASSET
VALUE
PER
SHARE
Investor
Class
(Net
assets:
$180;
Shares
outstanding:
12,323)
$
14.63
I
Class
(Net
assets:
$117,787;
Shares
outstanding:
8,006,923)
$
14.71
Z
Class
(Net
assets:
$49,948;
Shares
outstanding:
3,394,537)
$
14.71
T.
ROWE
PRICE
Small-Cap
Index
Fund
(Unaudited)
6
Months
Ended
6/30/24
Investment
Income
(Loss)
Income
Dividend
(net
of
foreign
taxes
of
$2)
$
1,015
Securities
lending
82
.
Interest
3
Other
1
Total
income
1,101
Expenses
Investment
management
72
Shareholder
servicing
I
Class
24
Prospectus
and
shareholder
reports
I
Class
$
3
Z
Class
1
4
Custody
and
accounting
125
Legal
and
audit
21
Miscellaneous
8
Waived
/
paid
by
Price
Associates
(173)
Total
expenses
81
Net
investment
income
1,020
T.
ROWE
PRICE
Small-Cap
Index
Fund
(Unaudited)
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
6
Months
Ended
6/30/24
Realized
and
Unrealized
Gain
/
Loss
–
Net
realized
gain
(loss)
Securities
3,786
Futures
4
Net
realized
gain
3,790
Change
in
net
unrealized
gain
/
loss
Securities
(1,932)
Futures
(21)
Change
in
net
unrealized
gain
/
loss
(1,953)
Net
realized
and
unrealized
gain
/
loss
1,837
INCREASE
IN
NET
ASSETS
FROM
OPERATIONS
$
2,857
T.
ROWE
PRICE
Small-Cap
Index
Fund
(Unaudited)
Statement
of
Changes
in
Net
Assets
6
Months
Ended
6/30/24
Year
Ended
12/31/23
Increase
(Decrease)
in
Net
Assets
Operations
Net
investment
income
$
1,020
$
1,859
Net
realized
gain
(loss)
3,790
(164)
Change
in
net
unrealized
gain
/
loss
(1,953)
18,431
Increase
in
net
assets
from
operations
2,857
20,126
Distributions
to
shareholders
Net
earnings
Investor
Class
–
(2)
I
Class
–
(1,381)
Z
Class
–
(488)
Decrease
in
net
assets
from
distributions
–
(1,871)
Capital
share
transactions
*
Shares
sold
I
Class
10,777
15,759
Z
Class
21,128
23,412
Distributions
reinvested
I
Class
–
1,381
Z
Class
–
488
Shares
redeemed
I
Class
(7,153)
(5,002)
Z
Class
(8,153)
(3,214)
Increase
in
net
assets
from
capital
share
transactions
16,599
32,824
T.
ROWE
PRICE
Small-Cap
Index
Fund
(Unaudited)
Statement
of
Changes
in
Net
Assets
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
6
Months
Ended
6/30/24
Year
Ended
12/31/23
Net
Assets
Increase
during
period
19,456
51,079
Beginning
of
period
148,459
97,380
End
of
period
$
167,915
$
148,459
*Share
information
(000s)
Shares
sold
I
Class
752
1,215
Z
Class
1,459
1,770
Distributions
reinvested
I
Class
–
100
Z
Class
–
35
Shares
redeemed
I
Class
(493)
(377)
Z
Class
(567)
(246)
Increase
in
shares
outstanding
1,151
2,497
T.
ROWE
PRICE
Small-Cap
Index
Fund
Unaudited
NOTES
TO
FINANCIAL
STATEMENTS
T.
Rowe
Price
Index
Trust,
Inc. (the
corporation) is
registered
under
the
Investment
Company
Act
of
1940
(the
1940
Act).
The
Small-Cap
Index
Fund
(the
fund)
is
an
open-end
management
investment
company
established
by
the
corporation
and
intends
to
be
diversified
in
approximately
the
same
proportion
as
the
index
it
tracks
is
diversified.
The
fund
may
become
nondiversified
for
periods
of
time
solely
as
a
result
of
changes
in
the
composition
of
the
index
(for
example,
changes
in
the
relative
market
capitalization
or
index
weighting
of
one
or
more
securities
represented
in
the
index). The
fund
seeks
to
track
the
performance
of
a
benchmark
index
that
measures
the
investment
return
of
small-capitalization
U.S.
stocks.
The
fund
is
available
for
investment
only
by
mutual
funds,
college
savings
plans,
and
other
institutional
client
accounts
managed
by
T.
Rowe
Price
Associates,
Inc.,
or
its
affiliates
and
is
not
available
for
direct
purchase
by
members
of
the
public.
The
fund
has three classes
of
shares:
the
Small-Cap
Index
Fund
(Investor
Class),
the
Small-Cap
Index
Fund–I
Class
(I
Class)
and
the
Small-Cap
Index
Fund–Z
Class
(Z
Class).
I
Class
shares
require
a
$500,000
initial
investment
minimum,
although
the
minimum
generally
is
waived
or
reduced
for
financial
intermediaries,
eligible
retirement
plans,
and
certain
other
accounts.
The
Z
Class
is
only
available
to
funds
advised
by
T.
Rowe
Price
Associates,
Inc.
and
its
affiliates
and
other
clients
that
are
subject
to
a
contractual
fee
for
investment
management
services. Each
class
has
exclusive
voting
rights
on
matters
related
solely
to
that
class;
separate
voting
rights
on
matters
that
relate
to
all
classes;
and,
in
all
other
respects,
the
same
rights
and
obligations
as
the
other
classes.
NOTE
1
-
SIGNIFICANT
ACCOUNTING
POLICIES
Basis
of
Preparation
The fund
is
an
investment
company
and
follows
accounting
and
reporting
guidance
in
the
Financial
Accounting
Standards
Board
(FASB)
Accounting
Standards
Codification
Topic
946
(ASC
946).
The
accompanying
financial
statements
were
prepared
in
accordance
with
accounting
principles
generally
accepted
in
the
United
States
of
America
(GAAP),
including,
but
not
limited
to,
ASC
946.
GAAP
requires
the
use
of
estimates
made
by
management.
Management
believes
that
estimates
and
valuations
are
appropriate;
however,
actual
results
may
differ
from
those
estimates,
and
the
valuations
reflected
in
the
accompanying
financial
statements
may
differ
from
the
value
ultimately
realized
upon
sale
or
maturity.
T.
ROWE
PRICE
Small-Cap
Index
Fund
Investment
Transactions,
Investment
Income,
and
Distributions
Investment
transactions
are
accounted
for
on
the
trade
date
basis.
Income
and
expenses
are
recorded
on
the
accrual
basis.
Realized
gains
and
losses
are
reported
on
the
identified
cost
basis. Premiums
and
discounts
on
debt
securities
are
amortized
for
financial
reporting
purposes. Income
tax-related
interest
and
penalties,
if
incurred,
are
recorded
as
income
tax
expense. Dividends
received
from other
investment
companies are
reflected
as
dividend income;
capital
gain
distributions
are
reflected
as
realized
gain/loss. Dividend
income and
capital
gain
distributions
are
recorded
on
the
ex-dividend
date. Distributions
from
REITs
are
initially
recorded
as
dividend
income
and,
to
the
extent
such
represent
a
return
of
capital
or
capital
gain
for
tax
purposes,
are
reclassified
when
such
information
becomes
available. Non-cash
dividends,
if
any,
are
recorded
at
the
fair
market
value
of
the
asset
received. Proceeds
from
litigation
payments,
if
any,
are
included
in
either
net
realized
gain
(loss)
or
change
in
net
unrealized
gain/loss
from
securities. Distributions
to
shareholders
are
recorded
on
the
ex-dividend
date. Income
distributions,
if
any,
are
declared
and
paid
by
each
class annually. A
capital
gain
distribution,
if
any, may
also
be
declared
and
paid
by
the
fund
annually.
Class
Accounting
Shareholder
servicing,
prospectus,
and
shareholder
report
expenses
incurred
by
each
class
are
charged
directly
to
the
class
to
which
they
relate.
Expenses
common
to
all
classes,
investment
income,
and
realized
and
unrealized
gains
and
losses
are
allocated
to
the
classes
based
upon
the
relative
daily
net
assets
of
each
class.
Capital
Transactions
Each
investor’s
interest
in
the
net
assets
of the
fund
is
represented
by
fund
shares. The
fund’s
net
asset
value
(NAV)
per
share
is
computed
at
the
close
of
the
New
York
Stock
Exchange
(NYSE),
normally
4
p.m.
ET,
each
day
the
NYSE
is
open
for
business.
However,
the
NAV
per
share
may
be
calculated
at
a
time
other
than
the
normal
close
of
the
NYSE
if
trading
on
the
NYSE
is
restricted,
if
the
NYSE
closes
earlier,
or
as
may
be
permitted
by
the
SEC.
Purchases
and
redemptions
of
fund
shares
are
transacted
at
the
next-computed
NAV
per
share,
after
receipt
of
the
transaction
order
by
T.
Rowe
Price
Associates,
Inc.,
or
its
agents.
Indemnification
In
the
normal
course
of
business, the
fund
may
provide
indemnification
in
connection
with
its
officers
and
directors,
service
providers,
and/or
private
company
investments. The
fund’s
maximum
exposure
under
these
arrangements
is
unknown;
however,
the
risk
of
material
loss
is
currently
considered
to
be
remote.
T.
ROWE
PRICE
Small-Cap
Index
Fund
NOTE
2
-
VALUATION
Fair
Value
The
fund’s
financial
instruments
are
valued
at
the
close
of
the
NYSE
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)
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
T.
ROWE
PRICE
Small-Cap
Index
Fund
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.
Assets
and
liabilities
other
than
financial
instruments,
including
short-
term
receivables
and
payables,
are
carried
at
cost,
or
estimated
realizable
value,
if
less,
which
approximates
fair
value.
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
T.
ROWE
PRICE
Small-Cap
Index
Fund
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
June
30,
2024
(for
further
detail
by
category,
please
refer
to
the
accompanying
Portfolio
of
Investments):
NOTE
3
-
DERIVATIVE
INSTRUMENTS
During
the
six
months ended
June
30,
2024,
the
fund
invested
in
derivative
instruments.
As
defined
by
GAAP,
a
derivative
is
a
financial
instrument
whose
value
is
derived
from
an
underlying
security
price,
foreign
exchange
rate,
interest
rate,
index
of
prices
or
rates,
or
other
variable;
it
requires
little
or
no
initial
investment
and
permits
or
requires
net
settlement.
The
fund
invests
in
derivatives
only
if
the
expected
risks
and
rewards
are
consistent
with
its
investment
objectives,
policies,
and
overall
risk
profile,
as
described
in
its
prospectus
and
Statement
of
Additional
Information.
The
fund
may
use
derivatives
for
a
variety
of
purposes
and
may
use
them
to
establish
both
long
and
short
positions
within
the
fund’s
portfolio.
Potential
uses
include
to
hedge
against
declines
in
principal
value,
increase
yield,
invest
in
an
asset
with
greater
($000s)
Level
1
Level
2
Level
3
Total
Value
Assets
Common
Stocks
$
167,873
$
—
$
—
$
167,873
Short-Term
Investments
393
75
—
468
Securities
Lending
Collateral
6,739
—
—
6,739
Total
Securities
175,005
75
—
175,080
Futures
Contracts*
3
—
—
3
Total
$
175,008
$
75
$
—
$
175,083
*
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
Small-Cap
Index
Fund
efficiency
and
at
a
lower
cost
than
is
possible
through
direct
investment,
to
enhance
return,
or
to
adjust
credit
exposure.
The
risks
associated
with
the
use
of
derivatives
are
different
from,
and
potentially
much
greater
than,
the
risks
associated
with
investing
directly
in
the
instruments
on
which
the
derivatives
are
based.
The
fund
values
its
derivatives
at
fair
value
and
recognizes
changes
in
fair
value
currently
in
its
results
of
operations.
Accordingly,
the
fund
does
not
follow
hedge
accounting,
even
for
derivatives
employed
as
economic
hedges.
Generally,
the
fund
accounts
for
its
derivatives
on
a
gross
basis.
It
does
not
offset
the
fair
value
of
derivative
liabilities
against
the
fair
value
of
derivative
assets
on
its
financial
statements,
nor
does
it
offset
the
fair
value
of
derivative
instruments
against
the
right
to
reclaim
or
obligation
to
return
collateral.
The
following
table
summarizes
the
fair
value
of
the
fund’s
derivative
instruments
held
as
of
June
30,
2024,
and
the
related
location
on
the
accompanying
Statement
of
Assets
and
Liabilities,
presented
by
primary
underlying
risk
exposure:
Additionally,
the
amount
of
gains
and
losses
on
derivative
instruments
recognized
in
fund
earnings
during
the
six
months ended
June
30,
2024,
and
the
related
location
on
the
accompanying
Statement
of
Operations
is
summarized
in
the
following
table
by
primary
underlying
risk
exposure:
($000s)
Location
on
Statement
of
Assets
and
Liabilities
Fair
Value*
Assets
Equity
derivatives
Futures
$
3
*
Total
$
3
*
The
fair
value
presented
includes
cumulative
gain
(loss)
on
open
futures
contracts;
however,
the
value
reflected
on
the
accompanying
Statement
of
Assets
and
Liabilities
is
only
the
unsettled
variation
margin
receivable
(payable)
at
that
date.
($000s)
Location
of
Gain
(Loss)
on
Statement
of
Operations
Futures
Realized
Gain
(Loss)
Equity
derivatives
$
4
Total
$
4
T.
ROWE
PRICE
Small-Cap
Index
Fund
Counterparty
Risk
and
Collateral
The
fund
invests
in
exchange-traded
and/or
centrally
cleared
derivative
contracts,
such
as
futures,
exchange-traded
options,
and
centrally
cleared
swaps.
Counterparty
risk
on
such
derivatives
is
minimal
because
the
clearinghouse
provides
protection
against
counterparty
defaults.
For
futures
and
centrally
cleared
swaps,
the
fund
is
required
to
deposit
collateral
in
an
amount
specified
by
the
clearinghouse
and
the
clearing
firm
(margin
requirement),
and
the
margin
requirement
must
be
maintained
over
the
life
of
the
contract.
Each
clearinghouse
and
clearing
firm,
in
its
sole
discretion,
may
adjust
the
margin
requirements
applicable
to
the
fund.
Collateral may
be
in
the
form
of
cash
or
debt
securities
issued
by
the
U.S.
government
or
related
agencies.
Cash
posted
by
the
fund
is
reflected
as
cash
deposits
in
the
accompanying
financial
statements
and
generally
is
restricted
from
withdrawal
by
the
fund;
securities
posted
by
the
fund
are
so
noted
in
the
accompanying
Portfolio
of
Investments;
both
remain
in
the
fund’s
assets.
While
typically
not
sold
in
the
same
manner
as
equity
or
fixed
income
securities,
exchange-traded
or
centrally
cleared
derivatives
may
be
closed
out
only
on
the
exchange
or
clearinghouse
where
the
contracts
were
cleared.
This
ability
is
subject
to
the
liquidity
of
underlying
positions. As
of
June
30,
2024,
securities
valued
at $24,000
had
been
posted
by
the
fund
for
exchange-traded
and/or
centrally
cleared
derivatives.
Futures
Contracts
The
fund
is
subject
to equity
price
risk in
the
normal
course
of
pursuing
its
investment
objectives
and
uses
futures
contracts
to
help
manage
such
risk.
The
fund
may
enter
into
futures
contracts
as
an
efficient
means
of
maintaining
liquidity
while
being
invested
in
the
market,
to
facilitate
trading,
or
to
reduce
transaction
costs. A
futures
contract
provides
for
the
future
sale
by
one
party
and
purchase
by
another
of
a
specified
amount
of
a
specific
underlying
financial
instrument
at
an
agreed-upon
price,
date,
time,
and
place.
The
fund
currently
invests
only
in
exchange-traded
futures,
which
generally
are
standardized
as
to
maturity
date,
underlying
financial
instrument,
and
other
contract
terms.
Payments
are
made
or
received
by
the
fund
each
day
($000s)
Location
of
Gain
(Loss)
on
Statement
of
Operations
Futures
Change
in
Unrealized
Gain
(Loss)
Equity
derivatives
$
(21)
Total
$
(21)
T.
ROWE
PRICE
Small-Cap
Index
Fund
to
settle
daily
fluctuations
in
the
value
of
the
contract
(variation
margin),
which
reflect
changes
in
the
value
of
the
underlying
financial
instrument.
Variation
margin
is
recorded
as
unrealized
gain
or
loss
until
the
contract
is
closed.
The
value
of
a
futures
contract
included
in
net
assets
is
the
amount
of
unsettled
variation
margin;
net
variation
margin
receivable
is
reflected
as
an
asset
and
net
variation
margin
payable
is
reflected
as
a
liability
on
the
accompanying
Statement
of
Assets
and
Liabilities.
When
a
contract
is
closed,
a
realized
gain
or
loss
is
recorded
on
the
accompanying
Statement
of
Operations.
Risks
related
to
the
use
of
futures
contracts
include
possible
illiquidity
of
the
futures
markets,
contract
prices
that
can
be
highly
volatile
and
imperfectly
correlated
to
movements
in
hedged
security
values,
and
potential
losses
in
excess
of
the
fund’s
initial
investment.
During
the
six
months ended
June
30,
2024,
the
volume
of
the
fund’s
activity
in
futures,
based
on
underlying
notional
amounts,
was
generally
less
than
1%
of
net
assets.
NOTE
4
-
OTHER
INVESTMENT
TRANSACTIONS
Consistent
with
its
investment
objective, the
fund
engages
in
the
following
practices
to
manage
exposure
to
certain
risks
and/or
to
enhance
performance.
The
investment
objective,
policies,
program,
and
risk
factors
of the
fund
are
described
more
fully
in the
fund’s prospectus
and
Statement
of
Additional
Information.
Securities
Lending
The fund
may
lend
its
securities
to
approved
borrowers
to
earn
additional
income.
Its
securities
lending
activities
are
administered
by
a
lending
agent
in
accordance
with
a
securities
lending
agreement.
Security
loans
generally
do
not
have
stated
maturity
dates,
and
the
fund
may
recall
a
security
at
any
time.
The
fund
receives
collateral
in
the
form
of
cash
or
U.S.
government
securities.
Collateral
is
maintained
over
the
life
of
the
loan
in
an
amount
not
less
than
the
value
of
loaned
securities;
any
additional
collateral
required
due
to
changes
in
security
values
is
delivered
to
the
fund
the
next
business
day.
Cash
collateral
is
invested
in
accordance
with
investment
guidelines
approved
by
fund
management.
Additionally,
the
lending
agent
indemnifies
the
fund
against
losses
resulting
from
borrower
default.
Although
risk
is
mitigated
by
the
collateral
and
indemnification,
the
fund
could
experience
a
delay
in
recovering
its
securities
and
a
possible
loss
of
income
or
value
if
the
borrower
fails
to
return
the
securities,
collateral
investments
decline
in
value,
and
the
lending
agent
fails
to
perform.
Securities
lending
revenue
consists
of
earnings
on
invested
collateral
and
borrowing
fees,
net
of
any
rebates
to
the
borrower,
compensation
to
the
lending
agent,
and
other
administrative
costs.
In
accordance
with
GAAP,
T.
ROWE
PRICE
Small-Cap
Index
Fund
investments
made
with
cash
collateral
are
reflected
in
the
accompanying
financial
statements,
but
collateral
received
in
the
form
of
securities
is
not.
At
June
30,
2024,
the
value
of
loaned
securities
was
$6,288,000,
including
securities
sold
but
not
yet
settled,
which
are
not
reflected
in
the
accompanying
Portfolio
of
Investments;
the
value
of
cash
collateral
and
related
investments
was
$6,739,000.
Other
Purchases
and
sales
of
portfolio
securities
other
than
in-kind
transactions,
if
any,
and short-term securities
aggregated $50,204,000 and
$31,709,000,
respectively,
for
the
six
months ended
June
30,
2024.
NOTE
5
-
FEDERAL
INCOME
TAXES
Generally,
no
provision
for
federal
income
taxes
is
required
since
the
fund
intends
to continue
to
qualify
as
a
regulated
investment
company
under
Subchapter
M
of
the
Internal
Revenue
Code
and
distribute
to
shareholders
all
of
its taxable
income
and
gains.
Distributions
determined
in
accordance
with
federal
income
tax
regulations
may
differ
in
amount
or
character
from
net
investment
income
and
realized
gains
for
financial
reporting
purposes.
Financial
reporting
records
are
adjusted
for
permanent
book/tax
differences
to
reflect
tax
character
but
are
not
adjusted
for
temporary
differences.
The
amount
and
character
of
tax-basis
distributions
and
composition
of
net
assets
are
finalized
at
fiscal
year-end;
accordingly,
tax-basis
balances
have
not
been
determined
as
of
the
date
of
this
report.
The
fund
intends
to
retain
realized
gains
to
the
extent
of
available
capital
loss
carryforwards.
Net
realized
capital
losses
may
be
carried
forward
indefinitely
to
offset
future
realized
capital
gains.
As
of
December
31,
2023,
the
fund
had
$1,552,000
of
available
capital
loss
carryforwards.
At
June
30,
2024,
the
cost
of
investments
(including
derivatives,
if
any)
for
federal
income
tax
purposes
was
$177,955,000.
Net
unrealized
loss
aggregated
$2,872,000
at
period-end,
of
which
$25,840,000
related
to
appreciated
investments
and
$28,712,000
related
to
depreciated
investments.
T.
ROWE
PRICE
Small-Cap
Index
Fund
NOTE
6
-
FOREIGN TAXES
The
fund
is
subject
to
foreign
income
taxes
imposed
by
certain
countries
in
which
it
invests.
Additionally,
capital
gains
realized
upon
disposition
of
securities
issued
in
or
by
certain
foreign
countries
are
subject
to
capital
gains
tax
imposed
by
those
countries.
All
taxes
are
computed
in
accordance
with
the
applicable
foreign
tax
law,
and,
to
the
extent
permitted,
capital
losses
are
used
to
offset
capital
gains.
Taxes
attributable
to
income
are
accrued
by
the
fund
as
a
reduction
of
income.
Current
and
deferred
tax
expense
attributable
to
capital
gains
is
reflected
as
a
component
of
realized
or
change
in
unrealized
gain/
loss
on
securities
in
the
accompanying
financial
statements.
To
the
extent
that
the
fund
has
country
specific
capital
loss
carryforwards,
such
carryforwards
are
applied
against
net
unrealized
gains
when
determining
the
deferred
tax
liability.
Any
deferred
tax
liability
incurred
by
the
fund
is
included
in
either
Other
liabilities
or
Deferred
tax
liability
on
the
accompanying
Statement
of
Assets
and
Liabilities.
NOTE
7
-
RELATED
PARTY
TRANSACTIONS
The
fund
is
managed
by
T.
Rowe
Price
Associates,
Inc.
(Price
Associates),
a
wholly
owned
subsidiary
of
T.
Rowe
Price
Group,
Inc.
(Price
Group). Price
Associates
has
entered
into
a
sub-advisory
agreement(s)
with
one
or
more
of
its
wholly
owned
subsidiaries,
to
provide
investment
advisory
services
to
the
fund. The
investment
management
agreement
between
the
fund
and
Price
Associates
provides
for
an
annual
investment
management
fee
equal
to 0.09%
of
the
fund’s
average
daily
net
assets.
The
fee
is
computed
daily
and
paid
monthly.
The Investor
Class is
subject
to
a
contractual
expense
limitation
through
the
expense
limitation
date
indicated
in
the
table
below.
This
agreement
will
continue
through
the
expense
limitation
date
indicated
in
the
table
below,
and
may
be
renewed,
revised,
or
revoked
only
with
approval
of
the
fund’s
Board.
During
the
limitation
period,
Price
Associates
is required
to
waive
or
pay
any
expenses
(excluding
interest;
expenses
related
to
borrowings,
taxes,
and
brokerage;
non-recurring,
extraordinary
expenses;
and
acquired
fund
fees
and
expenses)
that
would
otherwise
cause
the class's ratio
of
annualized
total
expenses
to
average
net
assets
(net
expense
ratio)
to
exceed
its
expense
limitation.
The
class
is
required
to
repay
Price
Associates
for
expenses
previously
waived/paid
to
the
extent
the
class's net
assets
grow
or
expenses
decline
sufficiently
to
allow
repayment
without
causing
the class's net
expense
T.
ROWE
PRICE
Small-Cap
Index
Fund
ratio
(after
the
repayment
is
taken
into
account)
to
exceed
the
lesser
of:
(1)
the
expense
limitation
in
place
at
the
time
such
amounts
were
waived;
or
(2)
the class's
current
expense
limitation.
However,
no
repayment
will
be
made
more
than
three
years
after
the
date
of
a
payment
or
waiver.
The
I
Class
is
also
subject
to
an
operating
expense
limitation
(I
Class
Limit)
pursuant
to
which
Price
Associates
is
contractually
required
to
pay
all
operating
expenses
of
the
I
Class,
excluding
management
fees;
interest;
expenses
related
to
borrowings,
taxes,
and
brokerage; non-recurring,
extraordinary expenses; and
acquired
fund
fees
and
expenses, to
the
extent
such
operating
expenses,
on
an
annualized
basis,
exceed
the
I
Class
Limit. This
agreement
will
continue
through
the
expense
limitation
date
indicated
in
the
table
below,
and
may
be
renewed,
revised,
or
revoked
only
with
approval
of
the
fund’s
Board.
The
I
Class
is
required
to
repay
Price
Associates
for
expenses
previously
paid
to
the
extent
the
class’s
net
assets
grow
or
expenses
decline
sufficiently
to
allow
repayment
without
causing
the
class’s
operating
expenses
(after
the
repayment
is
taken
into
account)
to
exceed
the
lesser
of:
(1)
the
I
Class
Limit
in
place
at
the
time
such
amounts
were
paid;
or
(2)
the
current
I
Class
Limit.
However,
no
repayment
will
be
made
more
than
three
years
after
the
date
of
a
payment
or
waiver.
The
Z
Class
is
also
subject
to
a
contractual
expense
limitation
agreement
whereby
Price
Associates
has
agreed
to
waive
and/or
bear
all
of
the
Z
Class’
expenses
(excluding
interest;
expenses
related
to
borrowings,
taxes,
and
brokerage;
non-recurring,
extraordinary
expenses;
and
acquired
fund
fees
and
expenses)
in
their
entirety.
This
fee
waiver
and/or
expense
reimbursement
arrangement
is
expected
to
remain
in
place
indefinitely,
and
the
agreement
may
only
be
amended
or
terminated
with
approval
by
the
fund’s
Board.
Expenses
of
the
fund
waived/paid
by
the
manager
are
not
subject
to
later
repayment
by
the
fund.
Pursuant
to
these
agreements,
expenses
were
waived/paid
by
and/or
repaid
to
Price
Associates
during
the
six
months ended June
30,
2024
as
indicated
in
the
table
below.
Including these
amounts,
expenses
previously
waived/paid
by
Price
Associates
in
the
amount
of $801,000 remain
subject
to
repayment
by
the
fund
at
June
30,
2024.
Any
repayment
of
expenses
previously
waived/paid
by
Price
Associates
during
the
period
would
be
included
in
the
net
investment
income
and
expense
ratios
presented
on
the
accompanying
Financial
Highlights.
T.
ROWE
PRICE
Small-Cap
Index
Fund
In
addition,
the
fund
has
entered
into
service
agreements
with
Price
Associates
and
a
wholly
owned
subsidiary
of
Price
Associates,
each
an
affiliate
of
the
fund
(collectively,
Price).
Price
Associates
provides
certain
accounting
and
administrative
services
to
the
fund.
T.
Rowe
Price
Services,
Inc.
provides
shareholder
and
administrative
services
in
its
capacity
as
the
fund’s
transfer
and
dividend-disbursing
agent.
For
the
six
months
ended
June
30,
2024,
expenses
incurred
pursuant
to
these
service
agreements
were
$58,000
for
Price
Associates
and
less
than
$1,000
for
T.
Rowe
Price
Services,
Inc.
All
amounts
due
to
and
due
from
Price,
exclusive
of
investment
management
fees
payable,
are
presented
net
on
the
accompanying
Statement
of
Assets
and
Liabilities.
T.
Rowe
Price
Investment
Services,
Inc.
(Investment
Services)
serves
as
distributor
to
the
fund.
Pursuant
to
an
underwriting
agreement,
no
compensation
for
any
distribution
services
provided
is
paid
to
Investment
Services
by
the
fund
(except
for
12b-1
fees
under
a
Board-approved
Rule
12b-1
plan).
Additionally,
the
fund
is
one
of
several
mutual
funds
in
which
certain
college
savings
plans
managed
by
Price
Associates invests.
As
approved
by
the
fund’s
Board
of
Directors,
shareholder
servicing
costs
associated
with
each
college
savings
plan
are
borne
by
the
fund
in
proportion
to
the
average
daily
value
of
its
shares
owned
by
the
college
savings
plan.
Price
has
agreed
to waive/reimburse
shareholder
servicing
costs in
excess
of
0.05%
of
the
fund’s
average
daily
value
of
its
shares
owned
by
the
college
savings
plan.
Any
amounts
waived/
paid
by
Price
under
this
voluntary
agreement
are
not
subject
to
repayment
by
the
fund.
Price
may
amend
or
terminate
this
voluntary
arrangement
at
any
time
without
prior
notice.
For
the
six
months ended
June
30,
2024,
the
fund
was
charged $23,000 for
shareholder
servicing
costs
related
to
the
college
savings
plans, of
which
$10,000
was
for
services
provided
by
Price.
All
amounts
due
to
and
due
from
Price,
exclusive
of
investment
management
fees
payable,
are
presented
net
on
the
accompanying
Statement
of
Assets
and
Liabilities. At
June
30,
2024,
approximately
95%
of
the
outstanding
shares
of
the
I
Class
were
held
by
college
savings
plans.
Investor
Class
I
Class
Z
Class
Expense
limitation/I
Class
Limit
0.29%
0.05%
0.00%
Expense
limitation
date
04/30/26
04/30/26
N/A
(Waived)/repaid
during
the
period
($000s)
$—
(1)
$(109)
$(64)
(1)
Amount
rounds
to
less
than
$1,000
T.
ROWE
PRICE
Small-Cap
Index
Fund
Mutual
funds,
trusts,
and
other
accounts
managed
by
Price
Associates
or
its
affiliates
(collectively,
Price
Funds
and
accounts)
may
invest
in
the
fund.
No
Price
fund
or
account
may
invest
for
the
purpose
of
exercising
management
or
control
over
the
fund.
At
June
30,
2024, 100%
of
the
Z
Class's
outstanding
shares
were
held
by
Price
Funds
and
accounts.
The fund
may
invest
its
cash
reserves
in
certain
open-end
management
investment
companies
managed
by
Price
Associates
and
considered
affiliates
of
the
fund:
the
T.
Rowe
Price
Government
Reserve
Fund
or
the
T.
Rowe
Price
Treasury
Reserve
Fund,
organized
as
money
market
funds
(together,
the
Price
Reserve
Funds).
The
Price
Reserve
Funds
are
offered
as
short-term
investment
options
to
mutual
funds,
trusts,
and
other
accounts
managed
by
Price
Associates
or
its
affiliates
and
are
not
available
for
direct
purchase
by
members
of
the
public.
Cash
collateral
from
securities
lending,
if
any,
is
invested
in
the
T.
Rowe
Price
Government
Reserve Fund. The
Price
Reserve
Funds
pay
no
investment
management
fees.
As
of
June
30,
2024,
T.
Rowe
Price
Group,
Inc.,
or
its
wholly
owned
subsidiaries,
owned
12,323
shares
of
the
Investor
Class,
representing
100%
of
the
Investor
Class's
net
assets.
The fund may
participate
in
securities
purchase
and
sale
transactions
with
other
funds
or
accounts
advised
by
Price
Associates
(cross
trades),
in
accordance
with
procedures
adopted
by the
fund’s
Board
and
Securities
and
Exchange
Commission
rules,
which
require,
among
other
things,
that
such
purchase
and
sale
cross
trades
be
effected
at
the
independent
current
market
price
of
the
security.
During
the
six
months
ended
June
30,
2024,
the
fund
had
no
purchases
or
sales
cross
trades
with
other
funds
or
accounts
advised
by
Price
Associates.
NOTE
8
-
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
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
T.
ROWE
PRICE
Small-Cap
Index
Fund
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.
T.
ROWE
PRICE
Small-Cap
Index
Fund
APPROVAL
OF
INVESTMENT
MANAGEMENT
AGREEMENT
AND
SUBADVISORY
AGREEMENT
Each
year,
the
fund’s
Board
of
Directors
(Board)
considers
the
continuation
of
the
investment
management
agreement
(Advisory
Contract)
between
the
fund
and
its
investment
adviser,
T.
Rowe
Price
Associates,
Inc.
(Adviser),
as
well
as
the
investment
subadvisory
agreement
(Subadvisory
Contract)
that
the
Adviser
has
entered
into
with
T.
Rowe
Price
International
Ltd
(Subadviser)
on
behalf
of
the
fund.
In
that
regard,
at
a
meeting
held
on
March
11–12,
2024
(Meeting),
the
Board,
including
all
of
the
fund’s
independent
directors
present
in
person
at
the
Meeting,
approved
the
continuation
of
the
fund’s
Advisory
Contract
and
Subadvisory
Contract.
At
the
Meeting,
the
Board
considered
the
factors
and
reached
the
conclusions
described
below
relating
to
the
selection
of
the
Adviser
and
Subadviser
and
the
approval
of
the
Advisory
Contract
and
Subadvisory
Contract.
The
independent
directors
were
assisted
in
their
evaluation
of
the
Advisory
Contract
and
Subadvisory
Contract
by
independent
legal
counsel
from
whom
they
received
separate
legal
advice
and
with
whom
they
met
separately.
In
providing
information
to
the
Board,
the
Adviser
was
guided
by
a
detailed
set
of
requests
for
information
submitted
by
independent
legal
counsel
on
behalf
of
the
independent
directors.
In
considering
and
approving
the
continuation
of
the
Advisory
Contract
and
Subadvisory
Contract,
the
Board
considered
the
information
it
believed
was
relevant,
including,
but
not
limited
to,
the
information
discussed
below.
The
Board
considered
not
only
the
specific
information
presented
in
connection
with
the
Meeting,
but
also
the
knowledge
gained
over
time
through
interaction
with
the
Adviser
and
Subadviser
about
various
topics.
The
Board
meets
regularly
and,
at
each
of
its
meetings,
covers
an
extensive
agenda
of
topics
and
materials
and
considers
factors
that
are
relevant
to
its
annual
consideration
of
the
renewal
of
the
T.
Rowe
Price
funds’
advisory
contracts,
including
performance
and
the
services
and
support
provided
to
the
funds
and
their
shareholders.
Services
Provided
by
the
Adviser
and
Subadviser
The
Board
considered
the
nature,
quality,
and
extent
of
the
services
provided
to
the
fund
by
the
Adviser
and
Subadviser.
These
services
included,
but
were
not
limited
to,
directing
the
fund’s
investments
in
accordance
with
its
investment
program
and
the
overall
management
of
the
fund’s
portfolio,
as
well
as
a
variety
of
related
activities
such
as
financial,
investment
operations,
and
administrative
services;
compliance;
maintaining
the
fund’s
records
and
registrations;
and
shareholder
communications.
The
Board
also
reviewed
the
background
and
experience
of
the
Adviser’s
and
Subadviser’s
senior
management
teams
and
investment
personnel
involved
in
the
management
of
the
fund,
as
well
as
the
Adviser’s
compliance
record.
The
Board
concluded
that
the
information
it
considered
with
respect
to
the
nature,
quality,
and
extent
of
the
services
provided
by
the
Adviser
and
Subadviser,
as
well
as
the
other
factors
considered
at
the
Meeting,
supported
the
Board’s
approval
of
the
continuation
of
the
Advisory
Contract
and
Subadvisory
Contract.
T.
ROWE
PRICE
Small-Cap
Index
Fund
Investment
Performance
of
the
Fund
The
Board
took
into
account
discussions
with
the
Adviser
and
detailed
reports
that
it
regularly
receives
throughout
the
year
on
relative
and
absolute
performance
for
the
T.
Rowe
Price
funds.
In
connection
with
the
Meeting,
the
Board
reviewed
information
provided
by
the
Adviser
that
compared
the
fund’s
total
returns,
as
well
as
a
wide
variety
of
other
previously
agreed-upon
performance
measures
and
market
data,
against
relevant
benchmark
indexes
and
peer
groups
of
funds
with
similar
investment
programs
for
various
periods
through
December
31,
2023.
Additionally,
the
Board
reviewed
the
fund’s
relative
performance
information
as
of
September
30,
2023,
which
ranked
the
returns
of
the
fund’s
Investor
Class
for
various
periods
against
a
universe
of
funds
with
similar
investment
programs
selected
by
Broadridge,
an
independent
provider
of
mutual
fund
data.
In
the
course
of
its
deliberations,
the
Board
considered
performance
information
provided
throughout
the
year
and
in
connection
with
the
Advisory
Contract
review
at
the
Meeting,
as
well
as
information
provided
during
investment
review
meetings
conducted
with
portfolio
managers
and
senior
investment
personnel
during
the
course
of
the
year
regarding
the
fund’s
performance.
The
Board
also
considered
relevant
factors,
such
as
overall
market
conditions
and
trends
that
could
adversely
impact
the
fund’s
performance,
the
length
of
the
fund’s
performance
track
record,
and
how
closely
the
fund’s
strategies
align
with
its
benchmarks
and
peer
groups.
The
Board
concluded
that
the
information
it
considered
with
respect
to
the
fund’s
performance,
as
well
as
the
other
factors
considered
at
the
Meeting,
supported
the
Board’s
approval
of
the
continuation
of
the
Advisory
Contract
and
Subadvisory
Contract.
Costs,
Benefits,
Profits,
and
Economies
of
Scale
The
Board
reviewed
detailed
information
regarding
the
revenues
received
by
the
Adviser
under
the
Advisory
Contract
and
other
direct
and
indirect
benefits
that
the
Adviser
(and
its
affiliates,
including
the
Subadviser)
may
have
realized
from
its
relationship
with
the
fund.
In
considering
soft-dollar
arrangements
pursuant
to
which
research
may
be
received
from
broker-dealers
that
execute
the
fund’s
portfolio
transactions,
the
Board
noted
that
during
2023
the
Adviser
paid
the
costs
of
research
services
for
all
client
accounts
that
it
advises,
including
the
T.
Rowe
Price
funds.
However,
effective
January
1,
2024,
the
Adviser
will
begin
using
brokerage
commissions
in
connection
with
certain
T.
Rowe
Price
funds’
securities
transactions
to
pay
for
research
when
permissible.
APPROVAL
OF
INVESTMENT
MANAGEMENT
AGREEMENT
AND
SUBADVISORY
AGREEMENT
(continued)
T.
ROWE
PRICE
Small-Cap
Index
Fund
The
Board
received
information
on
the
estimated
costs
incurred
and
profits
realized
by
the
Adviser
from
managing
the
T.
Rowe
Price
funds.
The
Board
also
reviewed
estimates
of
the
profits
realized
from
managing
the
fund
in
particular,
and
the
Board
concluded
that
the
Adviser’s
profits
were
reasonable
in
light
of
the
services
provided
to
the
fund.
The
Board
also
considered
whether
the
fund
benefits
under
the
fee
levels
set
forth
in
the
Advisory
Contract
or
otherwise
from
any
economies
of
scale
realized
by
the
Adviser.
Under
the
Advisory
Contract,
the
fund
pays
a
fee
to
the
Adviser
for
investment
management
services
based
on
the
fund’s
average
daily
net
assets
and
the
fund
pays
its
own
expenses
of
operations.
Under
the
Subadvisory
Contract,
the
Adviser
may
pay
the
Subadviser
up
to
60%
of
the
advisory
fees
that
the
Adviser
receives
from
the
fund.
The
fund’s
shareholders
benefit
from
potential
economies
of
scale
through
a
decline
in
certain
operating
expenses
as
the
fund
grows
in
size.
However,
the
fund
is
also
subject
to
contractual
expense
limitations
that
require
the
Adviser
to
waive
its
fees
and/or
bear
any
expenses
that
would
otherwise
cause
the
fund’s
expenses
to
exceed
a
certain
percentage
based
on
the
fund’s
net
assets.
The
expense
limitation
mitigates
the
potential
for
an
increase
in
total
operating
expenses
above
a
certain
level
that
could
impact
shareholders.
The
fund
also
offers
a
Z
Class,
which
serves
as
an
underlying
investment
within
certain
T.
Rowe
Price
fund
of
funds
arrangements.
The
Adviser
waives
its
advisory
fee
on
the
Z
Class
and
waives
or
bears
the
Z
Class’s
other
operating
expenses,
with
certain
exceptions.
The
Board
considered
whether
the
advisory
fee
and
operating
expense
waivers
on
the
Z
Class
may
present
a
means
for
cross-
subsidization
of
the
Z
Class
by
other
share
classes
of
the
fund.
In
that
regard,
the
Board
noted
that
the
Z
Class
operating
expenses
are
largely
covered
by
the
all-inclusive
fees
charged
by
the
investing
T.
Rowe
Price
fund
of
funds
and
that
any
Z
Class
operating
expenses
not
covered
by
the
investing
T.
Rowe
Price
fund
of
funds’
fees
are
paid
by
the
Adviser
and
not
by
shareholders
of
any
other
share
class
of
the
fund.
In
addition,
the
Board
noted
that
the
fund
potentially
shares
in
indirect
economies
of
scale
through
the
Adviser’s
and
Subadviser’s
ongoing
investments
in
their
business
in
support
of
the
T.
Rowe
Price
funds,
including
investments
in
trading
systems,
technology,
and
regulatory
support
enhancements,
and
the
ability
to
possibly
negotiate
lower
fee
arrangements
with
third-party
service
providers.
The
Board
concluded
that
the
advisory
fee
structure
for
the
fund
provides
for
a
reasonable
sharing
of
benefits
from
any
economies
of
scale
with
the
fund’s
investors.
APPROVAL
OF
INVESTMENT
MANAGEMENT
AGREEMENT
AND
SUBADVISORY
AGREEMENT
(continued)
T.
ROWE
PRICE
Small-Cap
Index
Fund
Fees
and
Expenses
The
Board
was
provided
with
information
regarding
industry
trends
in
management
fees
and
expenses.
Among
other
things,
the
Board
reviewed
data
for
peer
groups
that
were
compiled
by
Broadridge,
which
compared:
(i)
contractual
management
fees,
actual
management
fees,
nonmanagement
expenses,
and
total
expenses
of
the
Investor
Class
of
the
fund
with
a
group
of
competitor
funds
selected
by
Broadridge
(Expense
Group)
and
(ii)
actual
management
fees,
nonmanagement
expenses,
and
total
expenses
of
the
Investor
Class
of
the
fund
with
a
broader
set
of
funds
within
the
Lipper
investment
classification
(Expense
Universe).
The
Board
considered
the
fund’s
contractual
management
fee
rate,
actual
management
fee
rate
(which
reflects
the
management
fees
actually
received
from
the
fund
by
the
Adviser
after
any
applicable
waivers,
reductions,
or
reimbursements),
operating
expenses,
and
total
expenses
(which
reflect
the
net
total
expense
ratio
of
the
fund
after
any
waivers,
reductions,
or
reimbursements)
in
comparison
with
the
information
for
the
Broadridge
peer
groups.
Broadridge
generally
constructed
the
peer
groups
by
seeking
the
most
comparable
funds
based
on
similar
investment
classifications
and
objectives,
expense
structure,
asset
size,
and
operating
components
and
attributes
and
ranked
funds
into
quintiles,
with
the
first
quintile
representing
the
funds
with
the
lowest
relative
expenses
and
the
fifth
quintile
representing
the
funds
with
the
highest
relative
expenses.
The
information
provided
to
the
Board
indicated
that
the
fund’s
contractual
management
fee
ranked
in
the
second
quintile
(Expense
Group),
the
fund’s
actual
management
fee
rate
ranked
in
the
first
quintile
(Expense
Group
and
Expense
Universe),
and
the
fund’s
total
expenses
ranked
in
the
fourth
quintile
(Expense
Group
and
Expense
Universe).
The
Board
also
reviewed
the
fee
schedules
for
other
investment
portfolios
with
similar
mandates
that
are
advised
or
subadvised
by
the
Adviser
and
its
affiliates,
including
separately
managed
accounts
for
institutional
and
individual
investors;
subadvised
funds;
and
other
sponsored
investment
portfolios,
including
collective
investment
trusts
and
pooled
vehicles
organized
and
offered
to
investors
outside
the
United
States.
Management
provided
the
Board
with
information
about
the
Adviser’s
responsibilities
and
services
provided
to
subadvisory
and
other
institutional
account
clients,
including
information
about
how
the
requirements
and
economics
of
the
institutional
business
are
fundamentally
different
from
those
of
the
proprietary
mutual
fund
business.
The
Board
considered
information
showing
that
the
Adviser’s
mutual
fund
business
is
generally
more
complex
from
a
business
and
compliance
perspective
than
its
institutional
account
business
and
considered
various
relevant
factors,
such
as
the
broader
scope
of
operations
and
oversight,
more
extensive
shareholder
communication
infrastructure,
greater
asset
flows,
heightened
business
risks,
and
differences
in
applicable
laws
and
regulations
associated
with
the
Adviser’s
proprietary
mutual
fund
business.
In
assessing
the
reasonableness
of
the
fund’s
management
fee
rate,
the
Board
considered
the
APPROVAL
OF
INVESTMENT
MANAGEMENT
AGREEMENT
AND
SUBADVISORY
AGREEMENT
(continued)
T.
ROWE
PRICE
Small-Cap
Index
Fund
differences
in
the
nature
of
the
services
required
for
the
Adviser
to
manage
its
mutual
fund
business
versus
managing
a
discrete
pool
of
assets
as
a
subadviser
to
another
institution’s
mutual
fund
or
for
an
institutional
account
and
that
the
Adviser
generally
performs
significant
additional
services
and
assumes
greater
risk
in
managing
the
fund
and
other
T.
Rowe
Price
funds
than
it
does
for
institutional
account
clients,
including
subadvised
funds.
On
the
basis
of
the
information
provided
and
the
factors
considered,
the
Board
concluded
that
the
fees
paid
by
the
fund
under
the
Advisory
Contract
are
reasonable.
Approval
of
the
Advisory
Contract
and
Subadvisory
Contract
As
noted,
the
Board
approved
the
continuation
of
the
Advisory
Contract
and
Subadvisory
Contract.
No
single
factor
was
considered
in
isolation
or
to
be
determinative
to
the
decision.
Rather,
the
Board
concluded,
in
light
of
a
weighting
and
balancing
of
all
factors
considered,
that
it
was
in
the
best
interests
of
the
fund
and
its
shareholders
for
the
Board
to
approve
the
continuation
of
the
Advisory
Contract
and
Subadvisory
Contract
(including
the
fees
to
be
charged
for
services
thereunder).
APPROVAL
OF
INVESTMENT
MANAGEMENT
AGREEMENT
AND
SUBADVISORY
AGREEMENT
(continued)
100
East
Pratt
Street
Baltimore,
MD
21202
T.
Rowe
Price
Investment
Services,
Inc.
Call
1-800-225-5132
to
request
a
prospectus
or
summary
prospectus;
each
includes
investment
objectives,
risks,
fees,
expenses,
and
other
information
that
you
should
read
and
consider
carefully
before
investing.
F33-051
8/24
Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies.
Not applicable.
Item 9. Proxy Disclosures for Open-End Management Investment Companies.
Not applicable.
Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.
Remuneration paid to Directors is included in Item 7 of this Form N-CSR and/or the Statement of Additional Information.
Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract.
If applicable, see Item 7.
Item 12. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable.
Item 13. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.
Item 14. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable.
Item 15. Submission of Matters to a Vote of Security Holders.
There has been no change to the procedures by which shareholders may recommend nominees to the registrant’s board of directors.
Item 16. Controls and Procedures.
(a) The registrant’s principal executive officer and principal financial officer have evaluated the registrant’s disclosure controls and procedures within 90 days of this filing and have concluded that the registrant’s disclosure controls and procedures were effective, as of that date, in ensuring that information required to be disclosed by the registrant in this Form N-CSR was recorded, processed, summarized, and reported timely.
(b) The registrant’s principal executive officer and principal financial officer are aware of no change in the registrant’s internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.
Item 17. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
Not applicable.
Item 18. Recovery of Erroneously Awarded Compensation.
Not applicable.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| | | | |
| T. Rowe Price Small-Cap Index Fund |
| By | | /s/ David Oestreicher | | |
| | David Oestreicher | | |
| | Principal Executive Officer | | |
| | |
| Date | | August 20, 2024 | | |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
| | | | |
| By | | /s/ David Oestreicher | | |
| | David Oestreicher | | |
| | Principal Executive Officer | | |
| | |
| Date | | August 20, 2024 | | |
| | | | |
| By | | /s/ Alan S. Dupski | | |
| | Alan S. Dupski | | |
| | Principal Financial Officer | | |
| | |
| Date | | August 20, 2024 | | |
