T.
ROWE
PRICE
Equity
Index
500
Fund
September
30,
2022
(Unaudited)
1
Portfolio
of
Investments
‡
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
COMMON
STOCKS
99.7%
COMMUNICATION
SERVICES
8.1%
Diversified
Telecommunication
Services
0.9%
AT&T
5,055,130
77,546
Lumen
Technologies (1)
660,138
4,806
Verizon
Communications
2,983,759
113,293
195,645
Entertainment
1.4%
Activision
Blizzard
501,373
37,272
Electronic
Arts
190,517
22,045
Live
Nation
Entertainment (2)
96,747
7,356
Netflix (2)
315,251
74,223
Take-Two
Interactive
Software (2)
112,834
12,299
Walt
Disney (2)
1,295,872
122,239
Warner
Bros
Discovery (2)
1,574,676
18,109
293,543
Interactive
Media
&
Services
4.8%
Alphabet,
Class
A (2)
4,271,549
408,574
Alphabet,
Class
C (2)
3,815,269
366,838
Match
Group (2)
202,290
9,659
Meta
Platforms,
Class
A (2)
1,625,800
220,589
Twitter (2)
468,871
20,555
1,026,215
Media
0.7%
Charter
Communications,
Class
A (2)
79,757
24,194
Comcast,
Class
A
3,122,967
91,597
DISH
Network,
Class
A (2)
179,354
2,481
Fox,
Class
A
223,180
6,847
Fox,
Class
B
104,314
2,973
Interpublic
Group
281,685
7,211
News,
Class
A
279,221
4,219
News,
Class
B
88,388
1,363
Omnicom
Group
147,071
9,279
Paramount
Global,
Class
B (1)
371,922
7,081
157,245
Wireless
Telecommunication
Services
0.3%
T-Mobile
U.S. (2)
426,153
57,177
57,177
Total
Communication
Services
1,729,825
T.
ROWE
PRICE
Equity
Index
500
Fund
1
T.
ROWE
PRICE
Equity
Index
500
Fund
2
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
CONSUMER
DISCRETIONARY
11.6%
Auto
Components
0.1%
Aptiv (2)
193,156
15,107
BorgWarner
171,547
5,386
20,493
Automobiles
2.6%
Ford
Motor
2,805,037
31,416
General
Motors
1,036,167
33,251
Tesla (2)
1,897,383
503,281
567,948
Distributors
0.2%
Genuine
Parts
100,093
14,946
LKQ
186,028
8,771
Pool
28,489
9,066
32,783
Hotels,
Restaurants
&
Leisure
1.9%
Booking
Holdings (2)
28,446
46,743
Caesars
Entertainment (2)
152,524
4,920
Carnival (1)(2)
687,241
4,831
Chipotle
Mexican
Grill (2)
19,930
29,950
Darden
Restaurants
89,131
11,259
Domino's
Pizza
25,758
7,990
Expedia
Group (2)
107,446
10,067
Hilton
Worldwide
Holdings
197,245
23,792
Las
Vegas
Sands (2)
222,630
8,353
Marriott
International,
Class
A
195,137
27,347
McDonald's
523,032
120,684
MGM
Resorts
International
240,589
7,150
Norwegian
Cruise
Line
Holdings (2)
299,557
3,403
Royal
Caribbean
Cruises (2)
159,971
6,063
Starbucks
816,636
68,810
Wynn
Resorts (2)
75,681
4,770
Yum!
Brands
203,289
21,618
407,750
Household
Durables
0.3%
DR
Horton
228,596
15,396
Garmin
108,552
8,718
Lennar,
Class
A
184,641
13,765
Mohawk
Industries (2)
36,964
3,371
Newell
Brands
264,099
3,668
NVR (2)
2,209
8,807
PulteGroup
170,174
6,382
T.
ROWE
PRICE
Equity
Index
500
Fund
3
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Whirlpool
40,264
5,428
65,535
Internet
&
Direct
Marketing
Retail
3.4%
Amazon.com (2)
6,315,201
713,618
eBay
398,090
14,654
Etsy (1)(2)
90,974
9,109
737,381
Leisure
Products
0.0%
Hasbro
92,471
6,234
6,234
Multiline
Retail
0.5%
Dollar
General
162,468
38,970
Dollar
Tree (2)
147,215
20,036
Target
329,336
48,870
107,876
Specialty
Retail
2.2%
Advance
Auto
Parts
43,713
6,834
AutoZone (2)
13,682
29,306
Bath
&
Body
Works
166,341
5,423
Best
Buy
144,638
9,161
CarMax (2)
113,914
7,521
Home
Depot
732,024
201,995
Lowe's
453,020
85,082
O'Reilly
Automotive (2)
44,809
31,516
Ross
Stores
250,639
21,121
TJX
836,432
51,959
Tractor
Supply
79,831
14,839
Ulta
Beauty (2)
36,932
14,817
479,574
Textiles,
Apparel
&
Luxury
Goods
0.4%
NIKE,
Class
B
896,886
74,549
Ralph
Lauren
32,583
2,767
Tapestry
180,553
5,133
VF
227,671
6,810
89,259
Total
Consumer
Discretionary
2,514,833
CONSUMER
STAPLES
6.9%
Beverages
1.9%
Brown-Forman,
Class
B
129,087
8,593
Coca-Cola
2,772,696
155,327
Constellation
Brands,
Class
A
111,643
25,642
Keurig
Dr
Pepper
594,469
21,294
T.
ROWE
PRICE
Equity
Index
500
Fund
4
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Molson
Coors
Beverage,
Class
B
134,792
6,469
Monster
Beverage (2)
269,409
23,428
PepsiCo
982,613
160,421
401,174
Food
&
Staples
Retailing
1.6%
Costco
Wholesale
314,976
148,754
Kroger
467,725
20,463
Sysco
362,019
25,598
Walgreens
Boots
Alliance
510,167
16,019
Walmart
1,013,024
131,389
342,223
Food
Products
1.1%
Archer-Daniels-Midland
399,326
32,126
Campbell
Soup
141,878
6,685
Conagra
Brands
339,501
11,078
General
Mills
418,816
32,086
Hershey
103,730
22,869
Hormel
Foods
202,179
9,187
J
M
Smucker
76,649
10,532
Kellogg
180,912
12,602
Kraft
Heinz
555,759
18,535
Lamb
Weston
Holdings
102,839
7,958
McCormick
178,491
12,721
Mondelez
International,
Class
A
968,691
53,113
Tyson
Foods,
Class
A
207,945
13,710
243,202
Household
Products
1.4%
Church
&
Dwight
172,840
12,348
Clorox
86,953
11,164
Colgate-Palmolive
596,776
41,923
Kimberly-Clark
240,059
27,016
Procter
&
Gamble
1,703,460
215,062
307,513
Personal
Products
0.2%
Estee
Lauder,
Class
A
165,112
35,648
35,648
Tobacco
0.7%
Altria
Group
1,289,327
52,063
Philip
Morris
International
1,102,233
91,496
143,559
Total
Consumer
Staples
1,473,319
T.
ROWE
PRICE
Equity
Index
500
Fund
5
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
ENERGY
4.6%
Energy
Equipment
&
Services
0.3%
Baker
Hughes
704,079
14,758
Halliburton
641,368
15,790
Schlumberger
1,003,487
36,025
66,573
Oil,
Gas
&
Consumable
Fuels
4.3%
APA
239,410
8,185
Chevron
1,279,899
183,883
ConocoPhillips
902,672
92,379
Coterra
Energy
575,000
15,019
Devon
Energy
460,783
27,707
Diamondback
Energy
123,611
14,890
EOG
Resources
417,002
46,592
EQT
264,381
10,774
Exxon
Mobil
2,964,067
258,793
Hess
196,732
21,442
Kinder
Morgan
1,390,591
23,139
Marathon
Oil
493,310
11,139
Marathon
Petroleum
350,901
34,855
Occidental
Petroleum
523,910
32,194
ONEOK
318,399
16,315
Phillips
66
342,835
27,674
Pioneer
Natural
Resources
168,431
36,470
Valero
Energy
276,666
29,562
Williams
864,004
24,736
915,748
Total
Energy
982,321
FINANCIALS
11.0%
Banks
3.7%
Bank
of
America
4,965,915
149,971
Citigroup
1,382,697
57,617
Citizens
Financial
Group
350,201
12,033
Comerica
91,819
6,528
Fifth
Third
Bancorp
488,403
15,609
First
Republic
Bank
127,404
16,633
Huntington
Bancshares
1,018,265
13,421
JPMorgan
Chase
2,087,068
218,099
KeyCorp
664,496
10,645
M&T
Bank
122,677
21,630
PNC
Financial
Services
Group
289,318
43,230
Regions
Financial
666,014
13,367
Signature
Bank
44,939
6,786
SVB
Financial
Group (2)
41,954
14,087
T.
ROWE
PRICE
Equity
Index
500
Fund
6
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Truist
Financial
948,272
41,288
U.S.
Bancorp
960,304
38,719
Wells
Fargo
2,694,568
108,375
Zions
Bancorp
108,370
5,512
793,550
Capital
Markets
3.0%
Ameriprise
Financial
78,102
19,678
Bank
of
New
York
Mellon
528,086
20,342
BlackRock
106,821
58,781
Cboe
Global
Markets
75,950
8,914
Charles
Schwab
1,082,788
77,820
CME
Group
255,955
45,337
FactSet
Research
Systems
27,017
10,810
Franklin
Resources
197,629
4,253
Goldman
Sachs
Group
242,324
71,013
Intercontinental
Exchange
397,688
35,931
Invesco
298,755
4,093
MarketAxess
Holdings
27,022
6,012
Moody's
113,477
27,587
Morgan
Stanley
948,552
74,945
MSCI
57,817
24,387
Nasdaq
233,894
13,257
Northern
Trust
148,481
12,704
Raymond
James
Financial
138,795
13,716
S&P
Global
241,312
73,685
State
Street
261,444
15,898
T.
Rowe
Price
Group (3)
161,469
16,956
636,119
Consumer
Finance
0.5%
American
Express
429,355
57,924
Capital
One
Financial
276,298
25,466
Discover
Financial
Services
197,468
17,954
Synchrony
Financial
351,881
9,920
111,264
Diversified
Financial
Services
1.6%
Berkshire
Hathaway,
Class
B (2)
1,285,143
343,159
343,159
Insurance
2.2%
Aflac
414,564
23,298
Allstate
189,100
23,549
American
International
Group
547,173
25,980
Aon,
Class
A
150,850
40,408
Arthur
J
Gallagher
148,956
25,504
Assurant
37,970
5,516
T.
ROWE
PRICE
Equity
Index
500
Fund
7
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Brown
&
Brown
166,760
10,086
Chubb
295,166
53,685
Cincinnati
Financial
109,301
9,790
Everest
Re
Group
28,242
7,412
Globe
Life
64,955
6,476
Hartford
Financial
Services
Group
223,256
13,828
Lincoln
National
115,921
5,090
Loews
139,069
6,931
Marsh
&
McLennan
352,614
52,642
MetLife
481,824
29,285
Principal
Financial
Group
165,887
11,969
Progressive
416,607
48,414
Prudential
Financial
267,224
22,922
Travelers
170,855
26,175
W
R
Berkley
148,136
9,567
Willis
Towers
Watson
79,546
15,984
474,511
Total
Financials
2,358,603
HEALTH
CARE
15.0%
Biotechnology
2.2%
AbbVie
1,257,532
168,773
Amgen
379,513
85,542
Biogen (2)
104,256
27,836
Gilead
Sciences
893,191
55,101
Incyte (2)
134,545
8,966
Moderna (2)
241,866
28,601
Regeneron
Pharmaceuticals (2)
75,742
52,177
Vertex
Pharmaceuticals (2)
181,701
52,610
479,606
Health
Care
Equipment
&
Supplies
2.7%
Abbott
Laboratories
1,244,456
120,414
ABIOMED (2)
32,439
7,969
Align
Technology (2)
52,333
10,839
Baxter
International
356,984
19,227
Becton
Dickinson
&
Company
202,828
45,196
Boston
Scientific (2)
1,015,267
39,321
Cooper
35,219
9,294
DENTSPLY
SIRONA
154,521
4,381
Dexcom (2)
278,176
22,404
Edwards
Lifesciences (2)
442,854
36,593
Hologic (2)
178,152
11,494
IDEXX
Laboratories (2)
59,896
19,514
Intuitive
Surgical (2)
255,076
47,811
Medtronic
946,786
76,453
T.
ROWE
PRICE
Equity
Index
500
Fund
8
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
ResMed
104,291
22,767
STERIS
71,240
11,846
Stryker
239,321
48,472
Teleflex
33,329
6,715
Zimmer
Biomet
Holdings
149,394
15,619
576,329
Health
Care
Providers
&
Services
3.6%
AmerisourceBergen
107,823
14,592
Cardinal
Health
194,648
12,979
Centene (2)
410,675
31,955
Cigna
215,811
59,881
CVS
Health
931,821
88,868
DaVita (2)
34,528
2,858
Elevance
Health
170,234
77,327
HCA
Healthcare
154,781
28,447
Henry
Schein (2)
98,786
6,497
Humana
90,097
43,714
Laboratory
Corp.
of
America
Holdings
62,332
12,766
McKesson
101,129
34,371
Molina
Healthcare (2)
41,794
13,785
Quest
Diagnostics
83,825
10,285
UnitedHealth
Group
666,029
336,371
Universal
Health
Services,
Class
B
46,867
4,133
778,829
Life
Sciences
Tools
&
Services
1.9%
Agilent
Technologies
213,910
26,001
Bio-Rad
Laboratories,
Class
A (2)
15,428
6,436
Bio-Techne
28,032
7,961
Charles
River
Laboratories
International (2)
35,953
7,075
Danaher
465,249
120,169
Illumina (2)
111,549
21,282
IQVIA
Holdings (2)
134,287
24,325
Mettler-Toledo
International (2)
16,176
17,537
PerkinElmer
90,063
10,837
Thermo
Fisher
Scientific
278,546
141,276
Waters (2)
42,992
11,588
West
Pharmaceutical
Services
52,423
12,900
407,387
Pharmaceuticals
4.6%
Bristol-Myers
Squibb
1,516,385
107,800
Catalent (2)
126,963
9,187
Eli
Lilly
560,870
181,357
Johnson
&
Johnson
1,871,796
305,777
Merck
1,801,141
155,114
T.
ROWE
PRICE
Equity
Index
500
Fund
9
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Organon
181,724
4,252
Pfizer
3,991,911
174,686
Viatris
865,227
7,372
Zoetis
335,128
49,696
995,241
Total
Health
Care
3,237,392
INDUSTRIALS
&
BUSINESS
SERVICES
7.9%
Aerospace
&
Defense
1.6%
Boeing (2)
396,033
47,952
General
Dynamics
161,521
34,270
Howmet
Aerospace
269,008
8,320
Huntington
Ingalls
Industries
28,084
6,221
L3Harris
Technologies
137,419
28,560
Lockheed
Martin
168,623
65,137
Northrop
Grumman
104,062
48,943
Raytheon
Technologies
1,050,231
85,972
Textron
153,777
8,959
TransDigm
Group
36,981
19,408
353,742
Air
Freight
&
Logistics
0.6%
CH
Robinson
Worldwide
90,868
8,752
Expeditors
International
of
Washington
111,767
9,870
FedEx
169,848
25,217
United
Parcel
Service,
Class
B
519,473
83,916
127,755
Airlines
0.2%
Alaska
Air
Group (2)
88,874
3,479
American
Airlines
Group (2)
462,358
5,567
Delta
Air
Lines (2)
453,115
12,714
Southwest
Airlines (2)
423,148
13,050
United
Airlines
Holdings (2)
230,663
7,504
42,314
Building
Products
0.4%
A.O.
Smith
93,314
4,533
Allegion
62,664
5,620
Carrier
Global
604,769
21,506
Fortune
Brands
Home
&
Security
93,787
5,035
Johnson
Controls
International
495,888
24,408
Masco
151,517
7,074
Trane
Technologies
165,751
24,002
92,178
Commercial
Services
&
Supplies
0.5%
Cintas
60,163
23,355
T.
ROWE
PRICE
Equity
Index
500
Fund
10
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Copart (2)
152,514
16,228
Republic
Services
147,701
20,093
Rollins
160,351
5,561
Waste
Management
265,286
42,501
107,738
Construction
&
Engineering
0.1%
Quanta
Services
101,909
12,982
12,982
Electrical
Equipment
0.5%
AMETEK
164,692
18,678
Eaton
284,219
37,903
Emerson
Electric
421,650
30,873
Generac
Holdings (2)
45,103
8,035
Rockwell
Automation
82,826
17,817
113,306
Industrial
Conglomerates
0.9%
3M
394,297
43,570
General
Electric
783,699
48,519
Honeywell
International
480,650
80,254
Roper
Technologies
75,252
27,063
199,406
Machinery
1.6%
Caterpillar
373,471
61,279
Cummins
100,622
20,478
Deere
198,787
66,373
Dover
102,880
11,994
Fortive
255,847
14,916
IDEX
54,323
10,856
Illinois
Tool
Works
201,899
36,473
Ingersoll
Rand
289,981
12,545
Nordson
38,556
8,184
Otis
Worldwide
301,459
19,233
PACCAR
247,948
20,751
Parker-Hannifin
91,337
22,132
Pentair
118,635
4,820
Snap-on
37,787
7,608
Stanley
Black
&
Decker
107,844
8,111
Westinghouse
Air
Brake
Technologies
130,486
10,615
Xylem
128,698
11,243
347,611
Professional
Services
0.4%
CoStar
Group (2)
282,270
19,660
Equifax
87,171
14,944
T.
ROWE
PRICE
Equity
Index
500
Fund
11
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Jacobs
Solutions
91,872
9,967
Leidos
Holdings
97,677
8,544
Nielsen
Holdings
257,819
7,147
Robert
Half
International
78,712
6,021
Verisk
Analytics
111,864
19,076
85,359
Road
&
Rail
0.9%
CSX
1,535,597
40,908
JB
Hunt
Transport
Services
59,922
9,373
Norfolk
Southern
168,593
35,345
Old
Dominion
Freight
Line
65,501
16,295
Union
Pacific
443,639
86,430
188,351
Trading
Companies
&
Distributors
0.2%
Fastenal
410,437
18,897
United
Rentals (2)
48,273
13,039
WW
Grainger
31,491
15,405
47,341
Total
Industrials
&
Business
Services
1,718,083
INFORMATION
TECHNOLOGY
26.1%
Communications
Equipment
0.8%
Arista
Networks (2)
172,128
19,432
Cisco
Systems
2,942,410
117,696
F5 (2)
42,672
6,176
Juniper
Networks
231,398
6,044
Motorola
Solutions
119,245
26,707
176,055
Electronic
Equipment,
Instruments
&
Components
0.6%
Amphenol,
Class
A
425,566
28,496
CDW
96,413
15,048
Corning
538,140
15,617
Keysight
Technologies (2)
128,847
20,275
TE
Connectivity
229,663
25,346
Teledyne
Technologies (2)
33,245
11,219
Trimble (2)
178,736
9,700
Zebra
Technologies,
Class
A (2)
37,512
9,829
135,530
IT
Services
4.4%
Accenture,
Class
A
449,413
115,634
Akamai
Technologies (2)
114,532
9,199
Automatic
Data
Processing
294,515
66,616
Broadridge
Financial
Solutions
83,555
12,059
Cognizant
Technology
Solutions,
Class
A
371,470
21,337
T.
ROWE
PRICE
Equity
Index
500
Fund
12
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
DXC
Technology (2)
173,890
4,257
EPAM
Systems (2)
40,367
14,621
Fidelity
National
Information
Services
433,827
32,784
Fiserv (2)
451,956
42,290
FleetCor
Technologies (2)
54,816
9,657
Gartner (2)
57,295
15,853
Global
Payments
199,681
21,576
International
Business
Machines
640,539
76,102
Jack
Henry
&
Associates
51,392
9,367
Mastercard,
Class
A
606,318
172,400
Paychex
229,000
25,696
PayPal
Holdings (2)
820,106
70,587
VeriSign (2)
64,050
11,126
Visa,
Class
A
1,162,355
206,492
937,653
Semiconductors
&
Semiconductor
Equipment
4.8%
Advanced
Micro
Devices (2)
1,145,385
72,572
Analog
Devices
367,239
51,171
Applied
Materials
614,492
50,345
Broadcom
286,707
127,301
Enphase
Energy (2)
96,418
26,753
Intel
2,912,642
75,059
KLA
101,907
30,840
Lam
Research
98,315
35,983
Microchip
Technology
396,348
24,189
Micron
Technology
777,227
38,939
Monolithic
Power
Systems
30,957
11,250
NVIDIA
1,781,863
216,300
NXP
Semiconductors
187,119
27,602
ON
Semiconductor (2)
310,014
19,323
Qorvo (2)
68,238
5,419
QUALCOMM
797,233
90,072
Skyworks
Solutions
114,967
9,803
SolarEdge
Technologies (2)
39,567
9,158
Teradyne
114,465
8,602
Texas
Instruments
651,768
100,881
1,031,562
Software
8.4%
Adobe (2)
331,850
91,325
ANSYS (2)
61,677
13,674
Autodesk (2)
155,024
28,958
Cadence
Design
Systems (2)
196,086
32,046
Ceridian
HCM
Holding (2)
102,166
5,709
Citrix
Systems
89,187
9,266
Fortinet (2)
457,549
22,479
T.
ROWE
PRICE
Equity
Index
500
Fund
13
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Intuit
200,101
77,503
Microsoft
5,311,094
1,236,954
NortonLifeLock
415,322
8,365
Oracle
1,075,087
65,656
Paycom
Software (2)
34,416
11,357
PTC (2)
74,758
7,820
Salesforce (2)
706,627
101,641
ServiceNow (2)
143,044
54,015
Synopsys (2)
109,079
33,325
Tyler
Technologies (2)
29,281
10,175
1,810,268
Technology
Hardware,
Storage
&
Peripherals
7.1%
Apple
10,758,637
1,486,844
Hewlett
Packard
Enterprise
924,938
11,081
HP
658,974
16,422
NetApp
157,428
9,737
Seagate
Technology
Holdings
141,243
7,518
Western
Digital (2)
220,869
7,189
1,538,791
Total
Information
Technology
5,629,859
MATERIALS
2.5%
Chemicals
1.8%
Air
Products
&
Chemicals
157,765
36,717
Albemarle
83,378
22,048
Celanese
73,627
6,651
CF
Industries
Holdings
137,462
13,231
Corteva
515,737
29,474
Dow
517,842
22,749
DuPont
de
Nemours
362,080
18,249
Eastman
Chemical
90,934
6,461
Ecolab
177,114
25,579
FMC
89,525
9,463
International
Flavors
&
Fragrances
180,612
16,405
Linde
355,593
95,864
LyondellBasell
Industries,
Class
A
184,607
13,897
Mosaic
251,270
12,144
PPG
Industries
168,431
18,644
Sherwin-Williams
169,370
34,678
382,254
Construction
Materials
0.1%
Martin
Marietta
Materials
44,519
14,339
Vulcan
Materials
94,790
14,949
29,288
T.
ROWE
PRICE
Equity
Index
500
Fund
14
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Containers
&
Packaging
0.3%
Amcor
1,072,727
11,510
Avery
Dennison
58,410
9,503
Ball
228,180
11,026
International
Paper
261,596
8,293
Packaging
Corp.
of
America
67,004
7,524
Sealed
Air
103,980
4,628
Westrock
182,421
5,635
58,119
Metals
&
Mining
0.3%
Freeport-McMoRan
1,028,276
28,103
Newmont
565,418
23,764
Nucor
188,494
20,167
72,034
Total
Materials
541,695
REAL
ESTATE
2.8%
Equity
Real
Estate
Investment
Trusts
2.7%
Alexandria
Real
Estate
Equities,
REIT
105,954
14,854
American
Tower,
REIT
330,428
70,943
AvalonBay
Communities,
REIT
99,179
18,268
Boston
Properties,
REIT
101,558
7,614
Camden
Property
Trust,
REIT
75,097
8,970
Crown
Castle,
REIT
307,659
44,472
Digital
Realty
Trust,
REIT
202,482
20,082
Duke
Realty,
REIT
272,361
13,128
Equinix,
REIT
64,857
36,893
Equity
Residential,
REIT
243,298
16,355
Essex
Property
Trust,
REIT
46,476
11,258
Extra
Space
Storage,
REIT
95,732
16,534
Federal
Realty
Investment
Trust,
REIT
49,847
4,492
Healthpeak
Properties,
REIT
380,539
8,722
Host
Hotels
&
Resorts,
REIT
511,323
8,120
Invitation
Homes,
REIT
413,366
13,959
Iron
Mountain,
REIT
207,301
9,115
Kimco
Realty,
REIT
435,326
8,014
Mid-America
Apartment
Communities,
REIT
82,368
12,773
Prologis,
REIT
526,185
53,460
Public
Storage,
REIT
111,294
32,588
Realty
Income,
REIT
433,671
25,240
Regency
Centers,
REIT
108,833
5,861
SBA
Communications,
REIT
76,767
21,852
Simon
Property
Group,
REIT
234,087
21,009
UDR,
REIT
213,940
8,923
Ventas,
REIT
282,722
11,357
T.
ROWE
PRICE
Equity
Index
500
Fund
15
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
VICI
Properties,
REIT
686,649
20,497
Vornado
Realty
Trust,
REIT
113,559
2,630
Welltower,
REIT
324,582
20,877
Weyerhaeuser,
REIT
528,411
15,091
583,951
Real
Estate
Management
&
Development
0.1%
CBRE
Group,
Class
A (2)
232,477
15,694
15,694
Total
Real
Estate
599,645
UTILITIES
3.2%
Electric
Utilities
2.0%
Alliant
Energy
179,242
9,498
American
Electric
Power
365,862
31,629
Constellation
Energy
232,442
19,337
Duke
Energy
548,237
50,997
Edison
International
270,169
15,286
Entergy
143,957
14,486
Evergy
163,947
9,739
Eversource
Energy
244,387
19,052
Exelon
698,437
26,163
FirstEnergy
393,783
14,570
NextEra
Energy
1,395,817
109,446
NRG
Energy
169,981
6,505
PG&E (2)
1,150,661
14,383
Pinnacle
West
Capital
81,128
5,234
PPL
525,225
13,315
Southern
755,023
51,342
Xcel
Energy
386,394
24,729
435,711
Gas
Utilities
0.1%
Atmos
Energy
98,131
9,995
9,995
Independent
Power
&
Renewable
Electricity
Producers
0.1%
AES
472,563
10,680
10,680
Multi-Utilities
0.9%
Ameren
183,021
14,742
CenterPoint
Energy
449,675
12,672
CMS
Energy
207,176
12,066
Consolidated
Edison
252,380
21,644
Dominion
Energy
588,318
40,659
DTE
Energy
138,196
15,899
NiSource
285,742
7,198
T.
ROWE
PRICE
Equity
Index
500
Fund
16
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Public
Service
Enterprise
Group
355,932
20,014
Sempra
Energy
223,111
33,453
WEC
Energy
Group
224,876
20,111
198,458
Water
Utilities
0.1%
American
Water
Works
129,646
16,875
16,875
Total
Utilities
671,719
Total
Common
Stocks
(Cost
$9,212,249)
21,457,294
SHORT-TERM
INVESTMENTS
0.3%
Money
Market
Funds
0.3%
T.
Rowe
Price
Government
Reserve
Fund,
3.07% (3)(4)
74,600,491
74,600
74,600
U.S.
Treasury
Obligations
0.0%
U.S.
Treasury
Bills,
3.279%,
2/16/23 (5)
5,490,000
5,416
5,416
Total
Short-Term
Investments
(Cost
$80,022)
80,016
SECURITIES
LENDING
COLLATERAL
0.0%
INVESTMENTS
IN
A
POOLED
ACCOUNT
THROUGH
SECURITIES
LENDING
PROGRAM
WITH
STATE
STREET
BANK
AND
TRUST
COMPANY
0.0%
Money
Market
Funds
0.0%
T.
Rowe
Price
Government
Reserve
Fund,
3.07% (3)(4)
9,590,997
9,591
Total
Investments
in
a
Pooled
Account
through
Securities
Lending
Program
with
State
Street
Bank
And
Trust
Company
9,591
Total
Securities
Lending
Collateral
(Cost
$9,591)
9,591
Total
Investments
in
Securities
100.0%
(Cost
$9,301,862)
$
21,546,901
Other
Assets
Less
Liabilities
(0.0)%
(9,870)
Net
Assets
100.0%
$
21,537,031
‡
Shares/Par
and
Notional
Amount
are
denominated
in
U.S.
dollars
unless
otherwise
noted.
(1)
All
or
a
portion
of
this
security
is
on
loan
at
September
30,
2022.
T.
ROWE
PRICE
Equity
Index
500
Fund
17
.
.
.
.
.
.
.
.
.
.
(2)
Non-income
producing
(3)
Affiliated
Companies
(4)
Seven-day
yield
(5)
At
September
30,
2022,
all
or
a
portion
of
this
security
is
pledged
as
collateral
and/or
margin
deposit
to
cover
future
funding
obligations.
REIT
A
domestic
Real
Estate
Investment
Trust
whose
distributions
pass-through
with
original
tax
character
to
the
shareholder
T.
ROWE
PRICE
Equity
Index
500
Fund
18
FUTURES
CONTRACTS
($000s)
Expiration
Date
Notional
Amount
Value
and
Unrealized
Gain
(Loss)
Long,
484
S&P
500
E-Mini
Index
Contracts
12/22
87,156
$
(10,650)
Net
payments
(receipts)
of
variation
margin
to
date
9,373
Variation
margin
receivable
(payable)
on
open
futures
contracts
$
(1,277)
T.
ROWE
PRICE
Equity
Index
500
Fund
19
The
accompanying
notes
are
an
integral
part
of
this
Portfolio
of
Investments.
AFFILIATED
COMPANIES
($000s)
The
fund
may
invest
in
certain
securities
that
are
considered
affiliated
companies.
As
defined
by
the
1940
Act,
an
affiliated
company
is
one
in
which
the
fund
owns
5%
or
more
of
the
outstanding
voting
securities,
or
a
company
that
is
under
common
ownership
or
control.
The
following
securities
were
considered
affiliated
companies
for
all
or
some
portion
of
the
nine
months
ended
September
30,
2022.
Net
realized
gain
(loss),
investment
income,
change
in
net
unrealized
gain/loss,
and
purchase
and
sales
cost
reflect
all
activity
for
the
period
then
ended.
Affiliate
Net
Realized
Gain
(Loss)
Change
in
Net
Unrealized
Gain/Loss
Investment
Income
T.
Rowe
Price
Group
$
2,361
$
(19,171)
$
610
T.
Rowe
Price
Government
Reserve
Fund,
3.07%
—
—
423++
Totals
$
2,361#
$
(19,171)
$
1,033+
Supplementary
Investment
Schedule
Affiliate
Value
12/31/21
Purchase
Cost
Sales
Cost
Value
09/30/22
T.
Rowe
Price
Group
$
37,915
$
—
$
1,788
$
16,956
T.
Rowe
Price
Government
Reserve
Fund,
3.07%
153,134
¤
¤
84,191
Total
$
101,147^
#
Capital
gain
distributions
from
underlying
Price
funds
represented
$0
of
the
net
realized
gain
(loss).
++
Excludes
earnings
on
securities
lending
collateral,
which
are
subject
to
rebates
and
fees.
+
Investment
income
comprised
$1,033
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
$91,316.
T.
ROWE
PRICE
Equity
Index
500
Fund
Unaudited
Notes
to
Portfolio
of
Investments
20
T.
Rowe
Price
Equity
Index
500
Fund (the
fund) is
registered
under
the
Investment
Company
Act
of
1940
(the
1940
Act)
as
an
open-end
management
investment
company
and
follows
accounting
and
reporting
guidance
of
the
Financial
Accounting
Standards
Board
Accounting
Standards
Codification
Topic
946.
The
accompanying
Portfolio
of
Investments
was
prepared
in
accordance
with
accounting
principles
generally
accepted
in
the
United
States
of
America
(GAAP).
For
additional
information
on
the
fund’s
significant
accounting
policies
and
investment
related
disclosures,
please
refer
to
the
fund’s most
recent
semiannual
or
annual
shareholder
report
and
its
prospectus.
VALUATION
Fair
Value
The
fund’s
financial
instruments
are
valued
at
the
close
of
the
New
York
Stock
Exchange
(NYSE),
normally
4
p.m.
ET,
each
day
the
NYSE
is
open
for
business,
and
are
reported
at
fair
value,
which
GAAP
defines
as
the
price
that
would
be
received
to
sell
an
asset
or
paid
to
transfer
a
liability
in
an
orderly
transaction
between
market
participants
at
the
measurement
date. The fund’s
Board
of
Directors
(the
Board)
has
designated
T.
Rowe
Price
Associates,
Inc.
as
the
fund’s
valuation
designee
(Valuation
Designee).
Subject
to
oversight
by
the
Board,
the
Valuation
Designee
performs
the
following
functions
in
performing
fair
value
determinations:
assesses
and
manages
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 fund’s
own
assumptions
in
determining
fair
value)
T.
ROWE
PRICE
Equity
Index
500
Fund
21
Observable
inputs
are
developed
using
market
data,
such
as
publicly
available
information
about
actual
events
or
transactions,
and
reflect
the
assumptions
that
market
participants
would
use
to
price
the
financial
instrument.
Unobservable
inputs
are
those
for
which
market
data
are
not
available
and
are
developed
using
the
best
information
available
about
the
assumptions
that
market
participants
would
use
to
price
the
financial
instrument.
GAAP
requires
valuation
techniques
to
maximize
the
use
of
relevant
observable
inputs
and
minimize
the
use
of
unobservable
inputs.
When
multiple
inputs
are
used
to
derive
fair
value,
the
financial
instrument
is
assigned
to
the
level
within
the
fair
value
hierarchy
based
on
the
lowest-level
input
that
is
significant
to
the
fair
value
of
the
financial
instrument.
Input
levels
are
not
necessarily
an
indication
of
the
risk
or
liquidity
associated
with
financial
instruments
at
that
level
but
rather
the
degree
of
judgment
used
in
determining
those
values.
Valuation
Techniques
Equity
securities,
including
exchange-traded
funds, listed
or
regularly
traded
on
a
securities
exchange
or
in
the
over-the-counter
(OTC)
market
are
valued
at
the
last
quoted
sale
price
or,
for
certain
markets,
the
official
closing
price
at
the
time
the
valuations
are
made.
OTC
Bulletin
Board
securities
are
valued
at
the
mean
of
the
closing
bid
and
asked
prices.
A
security
that
is
listed
or
traded
on
more
than
one
exchange
is
valued
at
the
quotation
on
the
exchange
determined
to
be
the
primary
market
for
such
security.
Listed
securities
not
traded
on
a
particular
day
are
valued
at
the
mean
of
the
closing
bid
and
asked
prices
for
domestic
securities.
Debt
securities
generally
are
traded
in
the over-the-counter
(OTC)
market
and
are
valued
at
prices
furnished
by
independent
pricing
services
or
by
broker
dealers
who
make
markets
in
such
securities.
When
valuing
securities,
the
independent
pricing
services
consider
the
yield
or
price
of
bonds
of
comparable
quality,
coupon,
maturity,
and
type,
as
well
as
prices
quoted
by
dealers
who
make
markets
in
such
securities.
Investments
in
mutual
funds
are
valued
at
the
mutual
fund’s
closing
NAV
per
share
on
the
day
of
valuation.
Futures
contracts
are
valued
at
closing
settlement
prices.
Investments
for
which
market
quotations are
not
readily
available
or
deemed
unreliable
are
valued
at
fair
value
as
determined
in
good
faith
by
the
Valuation
Designee.
The
Valuation
Designee
has
adopted
methodologies
for
determining
the
fair
value
of
investments
for
which
market
quotations
are
not
readily
available
or
deemed
unreliable,
including
the
use
of
other
pricing
sources.
Factors
used
in
determining
fair
value
vary
by
type
of
investment
and
may
include
market
or
investment
specific
considerations.
The
Valuation
Designee typically
will
afford
greatest
weight
to
actual
prices
in
arm’s
length
transactions,
to
the
extent
they
represent
orderly
transactions
between
market
participants,
transaction
information
can
be
reliably
obtained,
and
prices
are
deemed
representative
of
fair
value.
However,
the
Valuation
Designee may
also
consider
other
T.
ROWE
PRICE
Equity
Index
500
Fund
22
valuation
methods
such
as
market-based
valuation
multiples;
a
discount
or
premium
from
market
value
of
a
similar,
freely
traded
security
of
the
same
issuer;
discounted
cash
flows;
yield
to
maturity;
or
some
combination.
Fair
value
determinations
are
reviewed
on
a
regular
basis.
Because
any
fair
value
determination
involves
a
significant
amount
of
judgment,
there
is
a
degree
of
subjectivity
inherent
in
such
pricing
decisions. Fair
value
prices
determined
by
the
Valuation
Designee could
differ
from
those
of
other
market
participants,
and
it
is
possible
that
the
fair
value
determined
for
a
security
may
be
materially
different
from
the
value
that
could
be
realized
upon
the
sale
of
that
security.
Valuation
Inputs
The
following
table
summarizes
the
fund’s
financial
instruments,
based
on
the
inputs
used
to
determine
their
fair
values
on
September
30,
2022
(for
further
detail
by
category,
please
refer
to
the
accompanying
Portfolio
of
Investments):
OTHER
MATTERS
Unpredictable
events
such
as
environmental
or
natural
disasters,
war,
terrorism,
pandemics,
outbreaks
of
infectious
diseases,
and
similar
public
health
threats
may
significantly
affect
the
economy
and
the
markets
and
issuers
in
which
a
fund
invests.
Certain
events
may
cause
instability
across
global
markets,
including
reduced
liquidity
and
disruptions
in
trading
markets,
while
some
events
may
affect
certain
geographic
regions,
countries,
sectors,
and
industries
more
significantly
than
others,
and
exacerbate
other
pre-existing
political,
social,
and
economic
risks.
Since
2020,
a
novel
strain
of
coronavirus
(COVID-19)
has
resulted
in
disruptions
to
global
business
activity
and
caused
significant
volatility
and
declines
in
global
financial
markets.
($000s)
Level
1
Level
2
Level
3
Total
Value
Assets
Common
Stocks
$
21,457,294
$
—
$
—
$
21,457,294
Short-Term
Investments
74,600
5,416
—
80,016
Securities
Lending
Collateral
9,591
—
—
9,591
Total
$
21,541,485
$
5,416
$
—
$
21,546,901
Liabilities
Futures
Contracts*
$
10,650
$
—
$
—
$
10,650
*
The
fair
value
presented
includes
cumulative
gain
(loss)
on
open
futures
contracts;
however,
the
net
value
reflected
on
the
accompanying
Portfolio
of
Investments
is
only
the
unsettled
variation
margin
receivable
(payable)
at
that
date.
T.
ROWE
PRICE
Equity
Index
500
Fund
23
In
February
2022,
Russian
forces
entered
Ukraine
and
commenced
an
armed
conflict
leading
to
economic
sanctions
being
imposed
on
Russia
and
certain
of
its
citizens,
creating
impacts
on
Russian-related
stocks
and
debt
and
greater
volatility
in
global
markets.
These
are
recent
examples
of
global
events
which
may
have
an
impact
on
the
fund’s
performance,
which
could
be
negatively
impacted
if
the
value
of
a
portfolio
holding
were
harmed
by
these
and
such
other
events.
Management
is
actively
monitoring
the
risks
and
financial
impacts
arising
from
these
events.
F50-054Q3
09/22