T. Rowe Price Growth Stock Fund I Class (PRUFX) is an open-end mutual fund that seeks long-term capital growth through investments primarily in common stocks of large-cap companies exhibiting growth characteristics, normally investing at least 80% of its net assets in such securities; the fund is non-diversified and focuses on firms represented in third-party growth-oriented indices, with heavy emphasis on sectors including information technology (approximately 56%), communication services, and consumer discretionary. Top holdings typically include leading growth names such as NVIDIA Corp., Microsoft Corp., Apple Inc., Amazon.com Inc., and Alphabet Inc., comprising over 50% of the portfolio; the fund maintains a portfolio turnover rate of around 38% and targets institutional investors with a minimum initial investment of $500,000. Domiciled in the United States and available for sale within the country, PRUFX was launched on August 28, 2015, as an I Class share of the broader T. Rowe Price Growth Stock Fund managed under T. Rowe Price Group, Inc., headquartered in Baltimore, Maryland, which was founded in 1937.
In recent developments, portfolio manager Joe Fath departed the firm and stepped down from the fund on August 1, 2025, earlier than the originally planned September 30 date, with comanager Jim Stillwagon assuming lead responsibility effective January 1, 2025, and taking final authority on transactions from May 1, 2025, while collaborating through the transition. The fund continues to demonstrate strong asset growth, managing total net assets of approximately $51.88 billion across classes, with the I Class holding $15.15 billion as of late 2025; it features a net expense ratio of 0.52% and pays annual distributions, including $6.99 per share in December 2025. These changes reflect ongoing strategic management adjustments within T. Rowe Price's large growth category offerings, which prioritize high-growth U.S. equities amid evolving market conditions.