Fund Evaluator:
T. Rowe Price Lrg Cp Gr Inv (TRGOX)
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Best Performing in Large Growth Over the Last Year
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Fund Details
T. Rowe Price Lrg Cp Gr Inv Overview
T. Rowe Price Lrg Cp Gr Inv (TRGOX) is an actively managed U.S. Equity Large Growth fund. T. Rowe Price launched the fund in 2020.
The investment seeks to provide long-term capital appreciation through investments in common stocks of growth companies. The fund normally invests at least 80% of its net assets (plus any borrowings for investment purposes) in securities of large-cap companies with growth characteristics. The fund manager considers a company to have growth characteristics if the company’s securities are represented in an appropriate third-party growth-oriented index. The fund is non-diversified.
About T. Rowe Price Lrg Cp Gr Inv (TRGOX)
There are 1 members of the management team with an average tenure of 1.49 years: Jon Friar (2025). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Russell 3000 TR USD index with a weighting of 100% and Russell 1000 Growth TR USD index with a weighting of 100%. T. Rowe Price Lrg Cp Gr Inv has 44 securities in its portfolio. The top 10 holdings constitute 65.9% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
T. Rowe Price Lrg Cp Gr Inv is part of the Equity global asset class and is within the U.S. Equity fund group. T. Rowe Price Lrg Cp Gr Inv has 3.1% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 89.7%. There is 3.1% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). T. Rowe Price Lrg Cp Gr Inv has 0.2% of the portfolio in cash.
Assets Under Management
The fund has $412 million in total assets, which is below the $2 billion average for the Large Growth category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
TRGOX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The T. Rowe Price Lrg Cp Gr Inv expense ratio is above average compared to funds in the Large Growth category. T. Rowe Price Lrg Cp Gr Inv has an expense ratio of 0.70%, which is 27% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. T. Rowe Price Lrg Cp Gr Inv has a portfolio turnover rate of 27%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 54% for the Large Growth category.
Recently, in the month of June 2026, T. Rowe Price Lrg Cp Gr Inv returned -3.0%, which earned it a grade of D, as the Large Growth category had an average return of -1.3%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
T. Rowe Price Lrg Cp Gr Inv has a trailing yield of 0.00%, which is below the 0.06% category average. The fund normally distributes its income annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
T. Rowe Price Lrg Cp Gr Inv Grades
Year to date, the fund has returned 1.7%, 5.3 percentage points worse than the category, which translates into a grade of F. The fund has returned 11.3% over the past year (grade of D), 20.5% over the past three years (grade of C) and 9.3% per year over the past five years (grade of D) and 17.8% per year over the past 10 years (grade of B).
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TRGOX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| TRGOX Return (NAV) | -3.0% | 14.9% | 11.3% | 20.5% | 9.3% | 17.8% |
| TRGOX Grade | D | D | D | C | D | B |
| +/- Category | -1.7% | -2.9% | -4.6% | -0.2% | -0.7% | 1.4% |
| Large Growth Avg | -1.3% | 17.8% | 15.9% | 20.7% | 10.0% | 16.4% |
| TRGOX Tax Cost Ratio | na | na | 3.0% | 1.5% | 1.2% | na |
TRGOX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| TRGOX Return (NAV) | 1.7% | 17.5% | 30.8% | 46.0% | -35.3% | 23.0% | 39.5% | 28.5% | 4.3% | 37.8% | 2.9% |
| TRGOX Grade | F | B | C | A | D | C | B | F | A | A | C |
| +/- Category | -5.3% | 1.7% | 1.2% | 7.2% | -3.3% | 2.5% | -2.6% | -4.7% | 5.0% | 8.0% | 0.1% |
| Large Growth Avg | 7.1% | 15.7% | 29.6% | 38.8% | -32.0% | 20.5% | 42.0% | 33.2% | -0.7% | 29.8% | 2.8% |
| Risk Measures | |
| Standard Deviation: | 15.7% |
| Total Risk Index: | 1.29 - Above Average |
| Category Risk Index: | 0.91 - Below Average |
| Category Risk Grade: | B (22% Rank) |
| Beta: | 1.13 |
| R-Squared: | 88% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Growth |
| Bond Investment Style: | na |
| Yield: | 0.0% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | |
| Total Assets: | $20548 Mil |
| Fund Total Assets: | $ 413 Mil |
| Share Class Type: | Other |
| Portfolio Turnover: | 27% |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 1.5 years | |||
| Average Tenure: 1.5 years | |||
| Managers (Year): Friar Jon (2025) | |||
Portfolio Composition (as of 4/30/26)
| # of Holdings: | 44 |
| % in Top 10 Holdings: | 65.9% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 3.1% |
Portfolio Allocation |
|
| Domestic Stock: | 89.7% |
| Foreign Stock: | 3.1% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 7.0% |
| Cash: | 0.2% |
Purchase Information
| Fund Family: | T. Rowe Price |
| Phone Number: | 800-638-5660 |
| Website: | www.troweprice.com |
| Status: | Open |
| Inception Date: | May 1, 2020 |
| Min. Initial Purchase: | $2,500 |
| Min. Initial IRA Purchase: | $1,000 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.70% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 0.96% |
| Share Class: | T. Rowe Price Lrg Cp Gr I |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 100 |
