T. Rowe Price Capital Appreciation Fund
PRWCX
NASDAQ- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 100 East Pratt Street Baltimore MD United States of America 21202
- IPO Date
- Jun 30, 1986
- CIK
- 0000793347
- Website
- troweprice.com
- Similar Companies
- Business
- T. Rowe Price Capital Appreciation Fund (PRWCX) is an open-end mutual fund that seeks long-term capital appreciation primarily through investments in common stocks of established U.S. companies with above-average growth potential; it allocates the remainder of assets to fixed income securities, including corporate and government debt, convertible securities, mortgage- and asset-backed securities, and bank loans, to preserve principal value. The fund maintains a moderate allocation with typically 50% to 70% in equities and 30% to 50% in bonds, emphasizing large-cap blend stocks alongside mid-credit quality, limited interest-rate sensitivity fixed income; top holdings include Microsoft Corp., Amazon.com Inc., NVIDIA Corp., and U.S. Treasury Notes. Managed within the T. Rowe Price family of funds, it targets individual and institutional investors, retirement plans, and financial intermediaries seeking balanced growth with downside protection. Launched on June 30, 1986, and domiciled in the United States, the fund operates from T. Rowe Price's global headquarters in Baltimore, Maryland, established by Thomas Rowe Price Jr. in 1937. With total net assets exceeding $70 billion and a net expense ratio of 0.71%, it remains available primarily to U.S. investors, with a minimum initial investment of $2,500. In recent developments, portfolio manager David Giroux, who has led the fund since June 30, 2006, earned the 2025 U.S. Morningstar Outstanding Portfolio Manager award for the Allocation category, marking his third such honor. As of June 30, 2025, Brian Solomon, Mike Signore, and Vivek Rajeswaran joined as comanagers alongside Giroux. The fund achieved a historic milestone by the end of 2024, posting 17 consecutive years of outperformance versus its Morningstar Moderate Allocation peer group average, the longest streak among any U.S. equity or multi-asset fund or ETF under the same manager. Year-end 2025 distributions included significant capital gains reflecting portfolio turnover of approximately 65%.