T. Rowe Price Global Technology Fund
PRGTX
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- T. Rowe Price Global Technology Fund (PRGTX) is an open-end mutual fund that seeks long-term capital growth by investing at least 80% of its net assets in common stocks of companies expected to generate a majority of revenues from the development, advancement, and use of technology. The fund focuses on large-cap growth stocks in the technology sector; communication services; consumer cyclical; and financial services, with top holdings including NVIDIA Corp., Apple Inc., Microsoft Corp., Broadcom Inc., and Taiwan Semiconductor Manufacturing Co. Ltd. It maintains a diversified portfolio with approximately 68.9% in U.S. stocks, 24.4% in non-U.S. stocks including emerging markets, and exposure across regions such as the Eurozone, developed Asia, emerging Asia, and Japan. Launched on September 29, 2000, and domiciled in the United States with management by T. Rowe Price Associates, Inc., headquartered at 100 East Pratt Street, Baltimore, Maryland, the fund has total net assets of approximately $6.04 billion and a net expense ratio of 0.92%. The fund is managed by Dominic Rizzo, who assumed responsibility on December 1, 2022, bringing timely investments in artificial intelligence-related holdings that have contributed to strong performance, including a 33.12% return in 2024 and annualized returns of 12.28% over five years and 15.19% over ten years as of late 2024. Recent developments include a People Pillar rating upgrade to Above Average by Morningstar, reflecting the management team's experience and strategic positioning in technology trends. The fund remains non-diversified, with about 48.8% concentrated in its top five holdings, and is available to U.S. investors with a minimum initial investment of $2,500.