T. Rowe Price New Horizons Fund I Class
PRJIX
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ROIC.AI
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- T. Rowe Price New Horizons Fund I Class (PRJIX) is an open-end mutual fund that seeks long-term capital growth by investing primarily in common stocks of small, emerging growth companies, preferably early in their corporate life cycle before they become widely recognized by the investment community; it may also invest in companies offering potential for accelerating earnings growth due to rejuvenated management, new products, or structural economic changes. The fund provides exposure to a diversified portfolio across sectors including technology (approximately 36.55%), healthcare (24.06%), and industrials (19.34%), with top holdings such as Dayforce Inc., HubSpot Inc., Toast Inc., and Lattice Semiconductor Corp.; it benchmarks performance against the Russell 2000 Growth Index, Russell 3000 Index, and Lipper Mid-Cap Growth Funds Index, maintaining a net expense ratio of 0.66% and portfolio turnover around 31-32%. Launched on August 28, 2015, as the I Class share (sharing the portfolio of the Investor Class since June 3, 1960), the fund is domiciled in the United States, managed by T. Rowe Price Associates, Inc. at its headquarters in Baltimore, Maryland, and available primarily to U.S. investors with a minimum initial investment of $500,000. In recent developments, Shaun Michael Currie joined as co-portfolio manager with Joshua K. Spencer on July 21, 2025, assuming full portfolio management responsibility from Spencer on September 30, 2025; the fund executed significant portfolio adjustments in the quarter ended September 30, 2025, including new positions in Credo Technology Group (high-speed connectivity solutions for AI infrastructure) and Fabrinet (advanced optical packaging), alongside trims in Paylocity to manage position sizes. These changes reflect strategic shifts toward high-conviction emerging growth opportunities in AI, data centers, and precision manufacturing, while maintaining focus on small-cap growth amid market volatility; the fund's assets under management stood at approximately $19.78 billion as of the latest reporting.