Investment objective & strategy
As of Feb. 25, 2026 · prospectusObjective. The fund seeks dividend income and long-term capital growth primarily through investments in stocks.
Strategy. The fund normally invests at least 65% of the funds total assets in stocks, with an emphasis on stocks that have a strong track record of paying dividends or that are expected to increase their dividends over time. The adviser believes that a track record of dividend increases can be an excellent indicator of financial health and growth prospects, and that over the long term, income can contribute significantly to total return. Dividends can also help reduce the funds volatility during periods of market turbulence and help offset losses when stock prices are falling. The advisers research analysts look for stocks with sustainable, above-average growth in earnings and dividends. When appropriate, the portfolio manager may attempt to buy stocks when … The fund normally invests at least 65% of the funds total assets in stocks, with an emphasis on stocks that have a strong track record of paying dividends or that are expected to increase their dividends over time. The adviser believes that a track record of dividend increases can be an excellent indicator of financial health and growth prospects, and that over the long term, income can contribute significantly to total return. Dividends can also help reduce the funds volatility during periods of market turbulence and help offset losses when stock prices are falling. The advisers research analysts look for stocks with sustainable, above-average growth in earnings and dividends. When appropriate, the portfolio manager may attempt to buy stocks when they are temporarily out of favor or undervalued by the market. Holdings tend to be in large- and mid-cap companies. At times, the fund may have a significant portion of its assets invested in the same economic sector, such as the information technology sector. In selecting investments, the adviser generally favors companies that it believes possess one or more of the following: ? either a track record of, or the potential for, above-average earnings and dividend growth; ? a competitive current dividend yield; ? a sound balance sheet and solid cash flow to support future dividend increases; ? a sustainable competitive advantage and leading market position; and ? attractive valuations, such as low price/earnings, price/cash flow, or price/sales ratios. While most assets are typically invested in U.S. common stocks, the fund may invest in foreign stocks in keeping with its objective(s).
Top holdings
As of March 31, 2026 · N-PORT| Security | Ticker | Value | % of fund |
|---|---|---|---|
| APPLE INC | — | $1.17B | 5.15% |
| MICROSOFT CORP | — | $1.00B | 4.42% |
| BROADCOM INC | — | $734.11M | 3.24% |
| JPMORGAN CHASE and CO | — | $693.43M | 3.06% |
| VISA INC-CLASS A | — | $590.27M | 2.60% |
| EXXON MOBIL CORP | — | $486.30M | 2.15% |
| CHUBB LTD | — | $476.61M | 2.10% |
| GENERAL ELECTRIC CO | — | $455.37M | 2.01% |
| WALMART INC | — | $426.31M | 1.88% |
| BANK OF AMERICA CORPORATION | — | $405.29M | 1.79% |
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. |
|---|---|---|
| Dividend Growth Portfolio | 98% | 0.67% |
| T. Rowe Price Dividend Growth ETF · TDVG | 90% | 0.50% |
| VANGUARD DIVIDEND APPRECIATION INDEX FUND · VIG, VDADX | 48% | 0.04% |
Advisers
| Firm | Role |
|---|---|
| T. Rowe Price Associates, Inc. | Adviser |
Footnotes
- Expense ratio as of February 25, 2026, from the fund's prospectus.
- Net assets and holdings count as of March 31, 2026, from the fund's N-PORT filing.
- Total return for calendar year 2025, before tax and after fund expenses. Computed by compounding the twelve monthly total returns the fund reported in its SEC N-PORT filings for 2025 (the latest prospectus does not yet chart this year).
Machine-readable: JSON · Markdown. Programmatic access via the agent surface.