T. Rowe Price Integrated US Small-Mid Cap Core Equity Fund (TQSMX) is an open-end mutual fund managed by T. Rowe Price Associates, Inc. that seeks long-term growth of capital by investing at least 80% of its net assets in equity securities of small- and mid-cap U.S. companies, defined as those within the market capitalization range of the Russell 2500 Index; the fund primarily holds common stocks but may include other equity or equity-related instruments across diversified sectors such as energy, financial services, basic materials, healthcare, and technology. It employs an integrated investment approach combining fundamental analysis and quantitative screening with bottom-up stock picking to select growth and value stocks, benchmarking performance against the Russell 3000 Index, Russell 2500 Index, and Lipper Small-Cap Core Funds Index; top holdings as of March 31, 2025, include TechnipFMC plc, Equitable Holdings Inc., Axis Capital Holdings Ltd., Webster Financial Corp., and RPM International Inc., representing approximately 8.5% of assets. The fund, launched on February 26, 2016, operates within the mid-cap blend category with total assets of approximately $750.5 million, an adjusted expense ratio of 0.87%, and a turnover rate of 53%, targeting investors seeking exposure to U.S. small- and mid-cap equities through active management.
T. Rowe Price Associates, Inc., the fund's investment adviser, is headquartered in Baltimore, Maryland, with global operations serving clients in 55 countries through 17 international offices. The firm, founded in 1937, maintains a focus on active management across diversified sectors without significant passive investment initiatives. No major partnerships, acquisitions, funding rounds, or strategic shifts specific to TQSMX have been reported in the last 1-2 years; the fund continues its established integrated strategy without noted reorganizations or new product launches.