T. Rowe Price Blue Chip Growth Fund (TRBCX) NPORT-P T. Rowe Price Blue Chip Growth Fund, Inc. (Mar 2024 report)

T.

ROWE

PRICE

Blue

Chip

Growth

Fund

March

31,

2024

(Unaudited)

1

Portfolio

of

Investments

‡

Shares/Par

$

Value

(Cost

and

value

in

$000s)

‡

COMMON

STOCKS

97.5%

COMMUNICATION

SERVICES

15.1%

Entertainment

1.8%

Netflix (1)

1,598,717‌

970,949‌

Sea,

ADR (1)

2,323,467‌

124,793‌

1,095,742‌

Interactive

Media

&

Services

12.4%

Alphabet,

Class

A (1)

5,462,248‌

824,417‌

Alphabet,

Class

C (1)

24,355,577‌

3,708,380‌

Meta

Platforms,

Class

A 

6,127,509‌

2,975,396‌

7,508,193‌

Wireless

Telecommunication

Services

0.9%

T-Mobile

U.S. 

3,300,912‌

538,775‌

538,775‌

Total

Communication

Services

9,142,710‌

CONSUMER

DISCRETIONARY

14.1%

Automobiles

1.5%

Tesla (1)

5,067,716‌

890,854‌

890,854‌

Broadline

Retail

8.4%

Amazon.com (1)

28,084,852‌

5,065,945‌

5,065,945‌

Hotels,

Restaurants

&

Leisure

2.2%

Booking

Holdings 

139,000‌

504,275‌

Chipotle

Mexican

Grill (1)

216,691‌

629,871‌

DoorDash,

Class

A (1)

1,403,198‌

193,249‌

1,327,395‌

Specialty

Retail

1.5%

Carvana (1)(2)

3,306,874‌

290,707‌

Ross

Stores 

2,405,231‌

352,992‌

TJX 

2,516,610‌

255,234‌

898,933‌

Textiles,

Apparel

&

Luxury

Goods

0.5%

Lululemon

Athletica (1)

471,014‌

184,002‌

NIKE,

Class

B 

1,308,279‌

122,952‌

306,954‌

Total

Consumer

Discretionary

8,490,081‌

T.

ROWE

PRICE

Blue

Chip

Growth

Fund

2

Shares/Par

$

Value

(Cost

and

value

in

$000s)

‡

CONSUMER

STAPLES

1.3%

Consumer

Staples

Distribution

&

Retail

0.6%

Dollar

General 

2,454,012‌

382,973‌

382,973‌

Food

Products

0.2%

Mondelez

International,

Class

A 

2,019,595‌

141,372‌

141,372‌

Household

Products

0.5%

Colgate-Palmolive 

1,639,396‌

147,628‌

Procter

&

Gamble 

825,148‌

133,880‌

281,508‌

Total

Consumer

Staples

805,853‌

ENERGY

0.3%

Energy

Equipment

&

Services

0.3%

Schlumberger 

3,787,354‌

207,585‌

Total

Energy

207,585‌

FINANCIALS

9.3%

Capital

Markets

1.6%

Charles

Schwab 

2,844,610‌

205,779‌

Goldman

Sachs

Group 

367,405‌

153,461‌

Morgan

Stanley 

2,659,132‌

250,384‌

MSCI 

102,655‌

57,533‌

S&P

Global 

642,768‌

273,466‌

940,623‌

Financial

Services

6.1%

Adyen

(EUR) (1)

94,092‌

158,934‌

ANT

Group,

Acquisition

Date:

8/14/23,

Cost $37,936 (1)(3)(4)

37,935,948‌

38,262‌

Fiserv (1)

872,649‌

139,467‌

Mastercard,

Class

A 

3,207,772‌

1,544,767‌

Visa,

Class

A 

6,524,096‌

1,820,745‌

3,702,175‌

Insurance

1.6%

Chubb 

2,365,901‌

613,076‌

Marsh

&

McLennan 

1,695,263‌

349,190‌

962,266‌

Total

Financials

5,605,064‌

HEALTH

CARE

11.7%

Health

Care

Equipment

&

Supplies

2.3%

Align

Technology (1)

121,990‌

40,003‌

Intuitive

Surgical (1)

2,317,012‌

924,696‌

Stryker 

990,247‌

354,380‌

T.

ROWE

PRICE

Blue

Chip

Growth

Fund

3

Shares/Par

$

Value

(Cost

and

value

in

$000s)

‡

Teleflex 

289,271‌

65,424‌

1,384,503‌

Health

Care

Providers

&

Services

3.4%

Elevance

Health 

468,802‌

243,093‌

Humana 

695,140‌

241,019‌

UnitedHealth

Group 

3,219,348‌

1,592,611‌

2,076,723‌

Health

Care

Technology

0.2%

Veeva

Systems,

Class

A (1)

591,952‌

137,149‌

137,149‌

Life

Sciences

Tools

&

Services

1.7%

Danaher 

1,401,490‌

349,980‌

Thermo

Fisher

Scientific 

1,165,789‌

677,568‌

1,027,548‌

Pharmaceuticals

4.1%

AstraZeneca,

ADR 

1,840,138‌

124,669‌

Eli

Lilly 

2,661,409‌

2,070,470‌

Zoetis 

1,544,581‌

261,359‌

2,456,498‌

Total

Health

Care

7,082,421‌

INDUSTRIALS

&

BUSINESS

SERVICES

2.3%

Aerospace

&

Defense

0.3%

TransDigm

Group 

134,740‌

165,946‌

165,946‌

Commercial

Services

&

Supplies

0.3%

Cintas 

171,556‌

117,864‌

Veralto 

488,469‌

43,308‌

161,172‌

Ground

Transportation

0.4%

Old

Dominion

Freight

Line 

989,794‌

217,072‌

217,072‌

Industrial

Conglomerates

1.3%

General

Electric 

2,153,950‌

378,083‌

Roper

Technologies 

712,499‌

399,598‌

777,681‌

Total

Industrials

&

Business

Services

1,321,871‌

INFORMATION

TECHNOLOGY

41.8%

Electronic

Equipment,

Instruments

&

Components

0.3%

TE

Connectivity 

1,236,873‌

179,643‌

179,643‌

T.

ROWE

PRICE

Blue

Chip

Growth

Fund

4

Shares/Par

$

Value

(Cost

and

value

in

$000s)

‡

IT

Services

1.2%

MongoDB (1)

737,656‌

264,553‌

Shopify,

Class

A (1)

4,373,660‌

337,515‌

Snowflake,

Class

A (1)

595,526‌

96,237‌

698,305‌

Semiconductors

&

Semiconductor

Equipment

13.1%

Advanced

Micro

Devices (1)

2,469,962‌

445,804‌

ASML

Holding 

798,954‌

775,361‌

Lam

Research 

111,398‌

108,231‌

Monolithic

Power

Systems 

492,847‌

333,864‌

NVIDIA 

6,590,897‌

5,955,271‌

Taiwan

Semiconductor

Manufacturing,

ADR 

1,705,486‌

232,031‌

Texas

Instruments 

502,714‌

87,578‌

7,938,140‌

Software

19.5%

Atlassian,

Class

A (1)

835,160‌

162,948‌

BILL

Holdings (1)

1,396,883‌

95,994‌

Canva,

Acquisition

Date:

8/16/21

-

12/17/21,

Cost $99,124 (1)(3)

(4)

58,155‌

62,032‌

Confluent,

Class

A (1)

2,577,824‌

78,675‌

Crowdstrike

Holdings,

Class

A (1)

463,322‌

148,536‌

Datadog,

Class

A (1)

890,965‌

110,123‌

Fortinet (1)

638,638‌

43,625‌

Gusto,

Acquisition

Date:

10/4/21,

Cost $32,574 (1)(3)(4)

1,131,497‌

17,403‌

Intuit 

998,408‌

648,965‌

Microsoft 

19,784,079‌

8,323,558‌

ServiceNow (1)

1,796,982‌

1,370,019‌

Synopsys (1)

1,236,576‌

706,703‌

11,768,581‌

Technology

Hardware,

Storage

&

Peripherals

7.7%

Apple 

26,961,761‌

4,623,403‌

4,623,403‌

Total

Information

Technology

25,208,072‌

MATERIALS

0.9%

Chemicals

0.9%

Linde 

601,777‌

279,417‌

Sherwin-Williams 

779,597‌

270,777‌

Total

Materials

550,194‌

T.

ROWE

PRICE

Blue

Chip

Growth

Fund

5

Shares/Par

$

Value

(Cost

and

value

in

$000s)

‡

UTILITIES

0.7%

Electric

Utilities

0.7%

Constellation

Energy 

2,378,792‌

439,720‌

Total

Utilities

439,720‌

Total

Common

Stocks

(Cost

$16,093,413)

58,853,571‌

CONVERTIBLE

PREFERRED

STOCKS

0.3%

INFORMATION

TECHNOLOGY

0.3%

Software

0.3%

Canva,

Series

A,

Acquisition

Date:

11/4/21

-

12/17/21,

Cost $6,254 (1)(3)(4)

3,669‌

3,914‌

Canva,

Series

A-3,

Acquisition

Date:

11/4/21

-

12/17/21,

Cost $699 (1)(3)(4)

410‌

437‌

Canva,

Series

A-4,

Acquisition

Date:

11/4/21

-

12/17/21,

Cost $77 (1)(3)(4)

45‌

48‌

Canva,

Series

A-5,

Acquisition

Date:

11/4/21,

Cost $14 (1)(3)(4)

8‌

8‌

Databricks,

Series

G,

Acquisition

Date:

2/1/21,

Cost $31,087 (1)

(3)(4)

525,810‌

38,647‌

Databricks,

Series

H,

Acquisition

Date:

8/31/21,

Cost $93,418 (1)

(3)(4)

1,271,268‌

93,438‌

Databricks,

Series

I,

Acquisition

Date:

9/14/23,

Cost $10,422 (1)

(3)(4)

141,790‌

10,422‌

Gusto,

Series

E,

Acquisition

Date:

7/13/21,

Cost $46,365 (1)(3)(4)

1,525,418‌

23,461‌

Total

Information

Technology

170,375‌

Total

Convertible

Preferred

Stocks

(Cost

$188,336)

170,375‌

CORPORATE

BONDS

0.2%

Carvana,

12.00%,

12/1/28,

(12.00%

PIK) (5)(6)

35,237,468‌

34,444‌

Carvana,

13.00%,

6/1/30,

(13.00%

PIK) (5)(6)

53,085,040‌

51,891‌

Carvana,

14.00%,

6/1/31,

(14.00%

PIK) (5)(6)

63,087,341‌

63,403‌

Total

Corporate

Bonds

(Cost

$132,997)

149,738‌

SHORT-TERM

INVESTMENTS

0.3%

Money

Market

Funds

0.3%

T.

Rowe

Price

Government

Reserve

Fund,

5.39% (7)(8)

191,028,923‌

191,029‌

Total

Short-Term

Investments

(Cost

$191,029)

191,029‌

T.

ROWE

PRICE

Blue

Chip

Growth

Fund

6

Shares/Par

$

Value

(Cost

and

value

in

$000s)

‡

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,

5.39% (7)(8)

765,675‌

766‌

Total

Investments

in

a

Pooled

Account

through

Securities

Lending

Program

with

State

Street

Bank

and

Trust

Company

766‌

Total

Securities

Lending

Collateral

(Cost

$766)

766‌

Total

Investments

in

Securities

98.3%

(Cost

$16,606,541)

$

59,365,479‌

Other

Assets

Less

Liabilities

1.7%

1,023,193‌

Net

Assets

100.0%

$

60,388,672‌

‡

Shares/Par

are

denominated

in

U.S.

dollars

unless

otherwise

noted.

(1)

Non-income

producing

(2)

All

or

a

portion

of

this

security

is

on

loan

at

March

31,

2024.

(3)

Level

3

in

fair

value

hierarchy.

(4)

Security

cannot

be

offered

for

public

resale

without

first

being

registered

under

the

Securities

Act

of

1933

and

related

rules

("restricted

security").

Acquisition

date

represents

the

day

on

which

an

enforceable

right

to

acquire

such

security

is

obtained

and

is

presented

along

with

related

cost

in

the

security

description.

The

fund

may

have

registration

rights

for

certain

restricted

securities.

Any

costs

related

to

such

registration

are

generally

borne

by

the

issuer.

The

aggregate

value

of

restricted

securities

(excluding

144A

holdings)

at

period

end

amounts

to

$288,072

and

represents

0.5%

of

net

assets.

(5)

Security

was

purchased

pursuant

to

Rule

144A

under

the

Securities

Act

of

1933

and

may

be

resold

in

transactions

exempt

from

registration

only

to

qualified

institutional

buyers.

Total

value

of

such

securities

at

period-end

amounts

to

$149,738

and

represents

0.2%

of

net

assets.

(6)

Security

has

the

ability

to

pay

in-kind

or

pay

in

cash.

When

applicable,

separate

rates

of

such

payments

are

disclosed.

(7)

Seven-day

yield

(8)

Affiliated

Companies

ADR

American

Depositary

Receipts

EUR

Euro

PIK

Payment-in-kind

T.

ROWE

PRICE

Blue

Chip

Growth

Fund

7

The

accompanying

notes

are

an

integral

part

of

this

Portfolio

of

Investments.

AFFILIATED

COMPANIES

($000s)

The

fund

may

invest

in

certain

securities

that

are

considered

affiliated

companies.

As

defined

by

the

1940

Act,

an

affiliated

company

is

one

in

which

the

fund

owns

5%

or

more

of

the

outstanding

voting

securities,

or

a

company

that

is

under

common

ownership

or

control.

The

following

securities

were

considered

affiliated

companies

for

all

or

some

portion

of

the

three

months

ended

March

31,

2024.

Net

realized

gain

(loss),

investment

income,

change

in

net

unrealized

gain/loss,

and

purchase

and

sales

cost

reflect

all

activity

for

the

period

then

ended.

Affiliate

Net

Realized

Gain

(Loss)

Change

in

Net

Unrealized

Gain/Loss

Investment

Income

T.

Rowe

Price

Government

Reserve

Fund,

5.39%

$

—‌

$

—‌

$

2,008‌++

Totals

$

—‌#

$

—‌

$

2,008‌+

Supplementary

Investment

Schedule

Affiliate

Value

12/31/23

Purchase

Cost

Sales

Cost

Value

03/31/24

T.

Rowe

Price

Government

Reserve

Fund,

5.39%

$

740,732‌

 ¤

 ¤

$

191,795‌

Total

$

191,795‌^

#

Capital

gain

distributions

from

underlying

Price

funds

represented

$0

of

the

net

realized

gain

(loss).

++

Excludes

earnings

on

securities

lending

collateral,

which

are

subject

to

rebates

and

fees.

+

Investment

income

comprised

$2,008

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

$191,795.

T.

ROWE

PRICE

Blue

Chip

Growth

Fund

Unaudited

Notes

to

Portfolio

of

Investments

8

T.

Rowe

Price

Blue

Chip

Growth

Fund,

Inc. (the

fund) is

registered

under

the

Investment

Company

Act

of

1940

(the

1940

Act)

as

an

open-end

management

investment

company

and

follows

accounting

and

reporting

guidance

of

the

Financial

Accounting

Standards

Board

Accounting

Standards

Codification

Topic

946.

The

accompanying

Portfolio

of

Investments

was

prepared

in

accordance

with

accounting

principles

generally

accepted

in

the

United

States

of

America

(GAAP).

For

additional

information

on

the

fund’s

significant

accounting

policies

and

investment

related

disclosures,

please

refer

to

the

fund’s most

recent

semiannual

or

annual

shareholder

report

and

its

prospectus. 

VALUATION 

Fair

Value

  The

fund’s

financial

instruments

are

valued

at

the

close

of

the

New

York

Stock

Exchange

(NYSE),

normally

4

p.m.

ET,

each

day

the

NYSE

is

open

for

business,

and

are

reported

at

fair

value,

which

GAAP

defines

as

the

price

that

would

be

received

to

sell

an

asset

or

paid

to

transfer

a

liability

in

an

orderly

transaction

between

market

participants

at

the

measurement

date. The fund’s

Board

of

Directors

(the

Board)

has

designated

T.

Rowe

Price

Associates,

Inc.

as

the

fund’s

valuation

designee

(Valuation

Designee).

Subject

to

oversight

by

the

Board,

the

Valuation

Designee

performs

the

following

functions

in

performing

fair

value

determinations:

assesses

and

manages

valuation

risks;

establishes

and

applies

fair

value

methodologies;

tests

fair

value

methodologies;

and

evaluates

pricing

vendors

and

pricing

agents.

The

duties

and

responsibilities

of

the

Valuation

Designee

are

performed

by

its

Valuation

Committee. The

Valuation

Designee provides

periodic

reporting

to

the

Board

on

valuation

matters.

Various

valuation

techniques

and

inputs

are

used

to

determine

the

fair

value

of

financial

instruments.

GAAP

establishes

the

following

fair

value

hierarchy

that

categorizes

the

inputs

used

to

measure

fair

value:

Level

1

–

quoted

prices

(unadjusted)

in

active

markets

for

identical

financial

instruments

that

the

fund

can

access

at

the

reporting

date

Level

2

–

inputs

other

than

Level

1

quoted

prices

that

are

observable,

either

directly

or

indirectly

(including,

but

not

limited

to,

quoted

prices

for

similar

financial

instruments

in

active

markets,

quoted

prices

for

identical

or

similar

financial

instruments

in

inactive

markets,

interest

rates

and

yield

curves,

implied

volatilities,

and

credit

spreads)

Level

3

–

unobservable

inputs

(including

the Valuation

Designee’s assumptions

in

determining

fair

value)

T.

ROWE

PRICE

Blue

Chip

Growth

Fund

9

Observable

inputs

are

developed

using

market

data,

such

as

publicly

available

information

about

actual

events

or

transactions,

and

reflect

the

assumptions

that

market

participants

would

use

to

price

the

financial

instrument.

Unobservable

inputs

are

those

for

which

market

data

are

not

available

and

are

developed

using

the

best

information

available

about

the

assumptions

that

market

participants

would

use

to

price

the

financial

instrument.

GAAP

requires

valuation

techniques

to

maximize

the

use

of

relevant

observable

inputs

and

minimize

the

use

of

unobservable

inputs.

When

multiple

inputs

are

used

to

derive

fair

value,

the

financial

instrument

is

assigned

to

the

level

within

the

fair

value

hierarchy

based

on

the

lowest-level

input

that

is

significant

to

the

fair

value

of

the

financial

instrument.

Input

levels

are

not

necessarily

an

indication

of

the

risk

or

liquidity

associated

with

financial

instruments

at

that

level

but

rather

the

degree

of

judgment

used

in

determining

those

values.

Valuation

Techniques 

Equity

securities,

including

exchange-traded

funds, listed

or

regularly

traded

on

a

securities

exchange

or

in

the

over-the-counter

(OTC)

market

are

valued

at

the

last

quoted

sale

price

or,

for

certain

markets,

the

official

closing

price

at

the

time

the

valuations

are

made.

OTC

Bulletin

Board

securities

are

valued

at

the

mean

of

the

closing

bid

and

asked

prices.

A

security

that

is

listed

or

traded

on

more

than

one

exchange

is

valued

at

the

quotation

on

the

exchange

determined

to

be

the

primary

market

for

such

security.

Listed

securities

not

traded

on

a

particular

day

are

valued

at

the

mean

of

the

closing

bid

and

asked

prices

for

domestic

securities

and

the

last

quoted

sale

or

closing

price

for

international

securities.

The

last

quoted

prices

of

non-U.S.

equity

securities

may

be

adjusted

to

reflect

the

fair

value

of

such

securities

at

the

close

of

the

NYSE,

if

the Valuation

Designee

determines

that

developments

between

the

close

of

a

foreign

market

and

the

close

of

the

NYSE

will

affect

the

value

of

some

or

all

of

its portfolio

securities.

Each

business

day,

the

Valuation

Designee uses

information

from

outside

pricing

services

to

evaluate

the

quoted

prices

of

portfolio

securities

and,

if

appropriate,

decide whether

it

is

necessary

to

adjust

quoted

prices

to

reflect

fair

value

by

reviewing

a

variety

of

factors,

including

developments

in

foreign

markets,

the

performance

of

U.S.

securities

markets,

and

the

performance

of

instruments

trading

in

U.S.

markets

that

represent

foreign

securities

and

baskets

of

foreign

securities. The Valuation

Designee

uses

outside

pricing

services

to

provide

it

with

quoted

prices

and

information

to

evaluate

or

adjust

those

prices.

The Valuation

Designee

cannot

predict

how

often

it

will

use

quoted

prices

and

how

often

it

will

determine

it

necessary

to

adjust

those

prices

to

reflect

fair

value.

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

T.

ROWE

PRICE

Blue

Chip

Growth

Fund

10

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

denominated

in

foreign

currencies

are

translated

into

U.S.

dollar

values

each

day

at

the

prevailing

exchange

rate,

using

the

mean

of

the

bid

and

asked

prices

of

such

currencies

against

U.S.

dollars

as

provided

by

an

outside

pricing

service.

Investments

in

mutual

funds

are

valued

at

the

mutual

fund’s

closing

NAV

per

share

on

the

day

of

valuation.

Investments

for

which

market

quotations are

not

readily

available

or

deemed

unreliable

are

valued

at

fair

value

as

determined

in

good

faith

by

the

Valuation

Designee.

The

Valuation

Designee

has

adopted

methodologies

for

determining

the

fair

value

of

investments

for

which

market

quotations

are

not

readily

available

or

deemed

unreliable,

including

the

use

of

other

pricing

sources.

Factors

used

in

determining

fair

value

vary

by

type

of

investment

and

may

include

market

or

investment

specific

considerations.

The

Valuation

Designee typically

will

afford

greatest

weight

to

actual

prices

in

arm’s

length

transactions,

to

the

extent

they

represent

orderly

transactions

between

market

participants,

transaction

information

can

be

reliably

obtained,

and

prices

are

deemed

representative

of

fair

value.

However,

the

Valuation

Designee may

also

consider

other

valuation

methods

such

as

market-based

valuation

multiples;

a

discount

or

premium

from

market

value

of

a

similar,

freely

traded

security

of

the

same

issuer;

discounted

cash

flows;

yield

to

maturity;

or

some

combination.

Fair

value

determinations

are

reviewed

on

a

regular

basis.

Because

any

fair

value

determination

involves

a

significant

amount

of

judgment,

there

is

a

degree

of

subjectivity

inherent

in

such

pricing

decisions. Fair

value

prices

determined

by

the

Valuation

Designee could

differ

from

those

of

other

market

participants,

and

it

is

possible

that

the

fair

value

determined

for

a

security

may

be

materially

different

from

the

value

that

could

be

realized

upon

the

sale

of

that

security.

T.

ROWE

PRICE

Blue

Chip

Growth

Fund

11

Valuation

Inputs

  The

following

table

summarizes

the

fund’s

financial

instruments,

based

on

the

inputs

used

to

determine

their

fair

values

on

March

31,

2024

(for

further

detail

by

category,

please

refer

to

the

accompanying

Portfolio

of

Investments):

OTHER

MATTERS 

Unpredictable

events

such

as

environmental

or

natural

disasters,

war

and

conflict,

terrorism,

geopolitical

events,

and

public

health

epidemics and

similar

public

health

threats

may

significantly

affect

the

economy

and

the

markets

and

issuers

in

which

the fund

invests.

Certain

events

may

cause

instability

across

global

markets,

including

reduced

liquidity

and

disruptions

in

trading

markets,

while

some

events

may

affect

certain

geographic

regions,

countries,

sectors,

and

industries

more

significantly

than

others,

and

exacerbate

other

pre-existing

political,

social,

and

economic

risks.

The

global

outbreak

of

COVID-19

and

the

related

governmental

and

public

responses

have

led

and

may

continue

to

lead

to

increased

market

volatility

and

the

potential

for

illiquidity

in

certain

classes

of

securities

and

sectors

of

the

market

either

in

specific

countries

or

worldwide.

In

February

2022,

Russian

forces

entered

Ukraine

and

commenced

an

armed

conflict,

leading

to

economic

sanctions imposed

on

Russia

that

target certain

of

its

citizens

and

issuers

and

sectors

of

the

Russian

economy,

creating

impacts

on

Russian-related

stocks

and

debt

and

greater

volatility

in

global

markets.

In

March

2023,

the

banking

industry

experienced

heightened

volatility,

which

sparked

concerns

of

potential

broader

adverse

market

conditions.

The

extent

of

impact

of

these

events

on

the

US

and

global

markets

is

highly

uncertain.

($000s)

Level

1

Level

2

Level

3

Total

Value

Assets

Common

Stocks

$

58,576,940‌

$

158,934‌

$

117,697‌

$

58,853,571‌

Convertible

Preferred

Stocks

—‌

—‌

170,375‌

170,375‌

Corporate

Bonds

—‌

149,738‌

—‌

149,738‌

Short-Term

Investments

191,029‌

—‌

—‌

191,029‌

Securities

Lending

Collateral

766‌

—‌

—‌

766‌

Total

$

58,768,735‌

$

308,672‌

$

288,072‌

$

59,365,479‌

T.

ROWE

PRICE

Blue

Chip

Growth

Fund

12

These

are

recent

examples

of

global

events

which

may

have

a

negative

impact

on

the

values

of

certain

portfolio

holdings

or

the

fund's

overall

performance.

Management

is

actively

monitoring

the

risks

and

financial

impacts

arising

from

these

events.

F93-054Q1

03/24