Investment objective & strategy
As of April 28, 2025 · prospectusObjective. The Fund seeks to provide long-term capital appreciation by investing in common stocks believed to be undervalued.
Strategy. At least 65% of the Funds total assets are normally invested in common stocks the Funds investment sub-adviser, T. Rowe Price Associates, Inc. (T. Rowe Price), regards as undervalued. Holdings are expected to consist primarily of large-cap stocks, but may also include stocks of mid-cap and small-cap companies. In taking a value added approach to investment selection, T. Rowe Prices in-house research team seeks to identify companies that appear to be undervalued by various measures, and may be temporarily out of favor, but have good prospects for capital appreciation. In selecting investments, T. Rowe Price generally looks for one or more of the following: Low price/earnings, price/book value, price/sales, or price/cash flow ratios relative to the broader equity market, a … At least 65% of the Funds total assets are normally invested in common stocks the Funds investment sub-adviser, T. Rowe Price Associates, Inc. (T. Rowe Price), regards as undervalued. Holdings are expected to consist primarily of large-cap stocks, but may also include stocks of mid-cap and small-cap companies. In taking a value added approach to investment selection, T. Rowe Prices in-house research team seeks to identify companies that appear to be undervalued by various measures, and may be temporarily out of favor, but have good prospects for capital appreciation. In selecting investments, T. Rowe Price generally looks for one or more of the following: Low price/earnings, price/book value, price/sales, or price/cash flow ratios relative to the broader equity market, a companys peers, or a companys own historical norm; Low stock price relative to a companys underlying asset values or intrinsic value; Companies that may benefit from restructuring activity; and/or A sound balance sheet and other positive financial characteristics.While most assets will typically be invested in U.S. common stocks, the Fund may invest in foreign stocks in keeping with the Funds objectives. The Fund may at times invest significantly in certain sectors. As of December 31, 2024, the Fund had a focused investment in the Financial and Industrials sectors.
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| JPMORGAN CHASE and CO | — | $6.60M | 3.26% |
| KEYSIGHT TECHNOLOGIES INC | — | $6.42M | 3.17% |
| BERKSHIRE HATH-B | — | $5.85M | 2.89% |
| DEERE & CO | — | $5.29M | 2.62% |
| CONOCOPHILLIPS | — | $4.78M | 2.37% |
| ALPHABET INC CL A | — | $4.29M | 2.12% |
| WESTINGHOUSE AIR BRAKE TECH CORP | — | $4.01M | 1.98% |
| GILEAD SCIENCES INC | — | $3.64M | 1.80% |
| PROCTER & GAMBLE | — | $3.64M | 1.80% |
| CHEVRON CORP | — | $3.63M | 1.80% |
Portfolio moves
Dec 31, 2025 → Mar 31, 2026How many positions this fund opened, exited, grew, trimmed, or left unchanged between its two most recent N-PORT snapshots — net changes between point-in-time reports, not a trade log.
Similar funds
Funds whose portfolios most overlap this one, by weight| Fund | Overlap | Net exp. |
|---|---|---|
| JNL/T. Rowe Price Value Fund | 99% | 0.57% |
| T. Rowe Price Value Fund, Inc. · TRVLX, PAVLX, TRPIX, TRZAX | 99% | 0.00% |
| iShares Russell Top 200 Value ETF · IWX | 45% | 0.20% |
Advisers
| Firm | Role |
|---|---|
| T. Rowe Price Associates, Inc. | Sub-adviser |
| Securian Asset Management, Inc. | Adviser |
Footnotes
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
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