0001177017-24-000840.txt : 20240425
0001177017-24-000840.hdr.sgml : 20240425
20240425144110
ACCESSION NUMBER: 0001177017-24-000840
CONFORMED SUBMISSION TYPE: NPORT-P
PUBLIC DOCUMENT COUNT: 2
CONFORMED PERIOD OF REPORT: 20240229
FILED AS OF DATE: 20240425
DATE AS OF CHANGE: 20240425
PERIOD START: 20240531
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: T. Rowe Price Retirement Funds, Inc.
CENTRAL INDEX KEY: 0001177017
ORGANIZATION NAME:
IRS NUMBER: 000000000
STATE OF INCORPORATION: MD
FISCAL YEAR END: 0531
FILING VALUES:
FORM TYPE: NPORT-P
SEC ACT: 1940 Act
SEC FILE NUMBER: 811-21149
FILM NUMBER: 24875399
BUSINESS ADDRESS:
STREET 1: 100 EAST PRATT STREET
CITY: BALTIMORE
STATE: MD
ZIP: 21202
BUSINESS PHONE: 410-345-2000
MAIL ADDRESS:
STREET 1: 100 EAST PRATT STREET
CITY: BALTIMORE
STATE: MD
ZIP: 21202
FORMER COMPANY:
FORMER CONFORMED NAME: T ROWE PRICE RETIREMENT FUNDS INC
DATE OF NAME CHANGE: 20020702
0001177017
S000014996
T. Rowe Price Retirement 2050 Fund
C000040835
T. Rowe Price Retirement 2050 Fund
TRRMX
C000040836
T. Rowe Price Retirement 2050 Fund-Advisor Class
PARFX
C000040837
T. Rowe Price Retirement 2050 Fund-R Class
RRTFX
C000244829
T. Rowe Price Retirement 2050 Fund-I Class
TRJLX
NPORT-P
1
primary_doc.xml
NPORT-P
false
0001177017
XXXXXXXX
S000014996
C000040836
C000040837
C000244829
C000040835
T. ROWE PRICE RETIREMENT FUNDS, INC.
811-21149
0001177017
549300NPW1X3GQMKCN90
100 East Pratt Street
Baltimore
21202
410-345-2000
T. Rowe Price Retirement 2050 Fund
S000014996
549300PH3TKARI8PVM65
2024-05-31
2024-02-29
N
14941533069.100000
7564155.230000
14933968913.870001
0.000000
0.000000
0.000000
0.000000
0.000000
0.000000
0.000000
0.000000
0.000000
0.000000
0.000000
0.000000
0.000000
0.000000
USD
N
T Rowe Price US Large-Cap Core Fund Inc
549300UPL95VCG3J6X04
T ROWE PRICE US LARGE-CAP CORE FUND INC
74149R404
39253804.552000
NS
USD
1531290915.560000
10.2537438265
Long
EC
RF
US
N
1
N
N
N
T Rowe Price US Equity Research Fund Inc
F3LBM5TMT300W38DI523
T ROWE PRICE US EQUITY RESEARCH FUND INC
77954P405
2034662.947000
NS
USD
102323199.610000
0.6851708357
Long
EC
RF
US
N
1
N
N
N
T Rowe Price Equity Index 500 Fund
549300VJO42KQ3FO2X07
T ROWE PRICE EQUITY INDEX 500 FUND
779552504
11431758.329000
NS
USD
1535170825.970000
10.2797242637
Long
EC
RF
US
N
1
N
N
N
T Rowe Price Mid-Cap Growth Fund Inc
549300H4FB9U29ZK0L79
T ROWE PRICE MID-CAP GROWTH FUND INC
779556505
5486171.611000
NS
USD
585758542.890000
3.9223233038
Long
EC
RF
US
N
1
N
N
N
T Rowe Price New Horizons Fund Inc
E0J2ATABWUU4WO6I2K88
T ROWE PRICE NEW HORIZONS FUND INC
779562305
4122913.786000
NS
USD
246550244.420000
1.6509358352
Long
EC
RF
US
N
1
N
N
N
T Rowe Price New Income Fund Inc
5F373D85WF2X2XQOCV26
T ROWE PRICE NEW INCOME FUND INC
779570506
6751329.001000
NS
USD
53470525.690000
0.3580463171
Long
EC
RF
US
N
1
N
N
N
T Rowe Price Small-Cap Stock Fund Inc
DN033QOT4XRHBV08B590
T ROWE PRICE SMALL-CAP STOCK FUND INC
779572601
6343817.715000
NS
USD
377837783.110000
2.5300560440
Long
EC
RF
US
N
1
N
N
N
T Rowe Price Value Fund Inc
TLDUHX6EEOQ43DDR8861
T ROWE PRICE VALUE FUND INC
779578400
51903151.385000
NS
USD
2309690236.610000
15.4660174394
Long
EC
RF
US
N
1
N
N
N
T Rowe Price Small-Cap Value Fund Inc
ZPMK6UBY3Q3LBDC3GP51
T ROWE PRICE SMALL-CAP VALUE FUND INC
77957Q400
6040845.313000
NS
USD
313157421.040000
2.0969470530
Long
EC
RF
US
N
1
N
N
N
T Rowe Price US Treasury Long-Term Index Fund
81MQEQSHGI5PN6BWN277
T ROWE PRICE US TREASURY LONG-TERM FUND
77957T701
5420160.989000
NS
USD
40597005.800000
0.2718433796
Long
EC
RF
US
N
1
N
N
N
T Rowe Price US Treasury Money Fund Inc
5493009ZDCM2JOJCUS84
T ROWE PRICE US TREASURY MONEY FUND INC
77957T800
114059615.912000
NS
USD
114059615.910000
0.7637595643
Long
STIV
RF
US
N
1
N
N
N
T Rowe Price Mid-Cap Value Fund Inc
VTYZMD0S9U3JRH8LCB93
T ROWE PRICE MID-CAP VALUE FUND INC
77957Y502
16018413.910000
NS
USD
524603055.550000
3.5128173801
Long
EC
RF
US
N
1
N
N
N
T Rowe Price Growth Stock Fund Inc
549300OJ8IWU7COPZY12
T ROWE PRICE GROWTH STOCK FUND INC
77958E208
24451882.971000
NS
USD
2359117669.040000
15.7969906235
Long
EC
RF
US
N
1
N
N
N
T Rowe Price Limited Duration Inflation Focused Bond Fund
5493009ZRV6DHHWWGU69
T ROWE PRICE LIMITED DURATION INFLATION FOCUSED BOND FUND
872798301
4602135.081000
NS
USD
21123800.020000
0.1414479978
Long
EC
RF
US
N
1
N
N
N
T Rowe Price Real Assets Fund Inc
5493008NLR7XEV5QEO07
T ROWE PRICE REAL ASSETS FUND INC
87279W308
65644511.536000
NS
USD
892765356.880000
5.9780850089
Long
EC
RF
US
N
1
N
N
N
T Rowe Price Dynamic Global Bond Fund
549300RBL73KV0WZZF27
T ROWE PRICE DYNAMIC GLOBAL BOND FUND
87281D702
1194810.134000
NS
USD
9247830.430000
0.0619248003
Long
EC
RF
US
N
1
N
N
N
T Rowe Price International Value Equity Fund
97KIE6QHONOYE0TN8681
T ROWE PRICE INTERNATIONAL VALUE EQUITY FUND
87281D827
62530595.923000
NS
USD
1012370347.990000
6.7789772018
Long
EC
RF
US
N
1
N
N
N
T Rowe Price Overseas Stock Fund
O80MRID2HJVYBDLHU105
T ROWE PRICE OVERSEAS STOCK FUND
87281D835
91624291.330000
NS
USD
1161796014.070000
7.7795529157
Long
EC
RF
US
N
1
N
N
N
T Rowe Price International Stock Fund
DIXEPQW5DPUCAUYFLI61
T ROWE PRICE INTERNATIONAL STOCK FUND
87281D843
50414731.910000
NS
USD
978045799.050000
6.5491350939
Long
EC
RF
US
N
1
N
N
N
T Rowe Price International Bond Fund - USD Hedged
N/A
T ROWE PRICE INTERNATIONAL BOND FUND - USD HEDGED
87281D850
1860258.612000
NS
USD
15626172.340000
0.1046350935
Long
EC
RF
US
N
1
N
N
N
T Rowe Price Emerging Markets Stock Fund
IMG3L58DUY918PK2SP65
T ROWE PRICE EMERGING MARKETS STOCK FUND
87281D876
9669918.677000
NS
USD
330324422.010000
2.2118997563
Long
EC
RF
US
N
1
N
N
N
T Rowe Price Emerging Markets Discovery Stock Fund
549300O1OJ5I2F2FBD73
T ROWE PRICE EMERGING MARKETS DISCOVERY STOCK FUND
87281D884
31471813.545000
NS
USD
413224911.840000
2.7670133387
Long
EC
RF
US
N
1
N
N
N
T Rowe Price Transition Fund
549300SB1TPJU7WGZG92
T ROWE PRICE TRANSITION FUND
87283Y100
16235.087000
NS
USD
1615647.650000
0.0108186086
Long
EC
RF
US
N
1
N
N
N
United States Treasury Bill
254900HROIFWPRGM1V77
UNITED STATES TREASURY BILL
912797HG5
10000000.000000
PA
USD
9919180.600000
0.0664202574
Long
DBT
UST
US
N
2
2024-04-25
None
0.0000000
N
N
N
N
N
N
N/A
N/A
S&P500 EMINI FUT MAR24
000000000
-28.000000
NC
USD
-144566.011220
-0.0009680348
N/A
DE
CORP
US
N
1
JP MORGAN CHASE BANK
7H6GLXDRUGQFU57RNE97
Short
S&P 500 INDEX
S&P 500 INDEX
2024-03-15
-7000683.988780
USD
-144566.011220
N
N
N
N/A
N/A
S&P500 EMINI FUT MAR24
000000000
-38.000000
NC
USD
-196196.729512
-0.0013137615
N/A
DE
CORP
US
N
1
CITIGROUP GLOBAL MARKETS INC
MBNUM2BPBDO7JBLYG310
Short
S&P 500 INDEX
S&P 500 INDEX
2024-03-15
-9500928.270488
USD
-196196.729512
N
N
N
N/A
N/A
S&P500 EMINI FUT MAR24
000000000
-98.000000
NC
USD
-505981.039268
-0.0033881217
N/A
DE
CORP
US
N
1
GOLDMAN SACHS & CO
FOR8UP27PHTHYVLBNG30
Short
S&P 500 INDEX
S&P 500 INDEX
2024-03-15
-24502393.960732
USD
-505981.039268
N
N
N
2024-04-04
T. ROWE PRICE RETIREMENT FUNDS, INC.
/s/ Alan Dupski
Alan Dupski
Treasurer & Vice President
XXXX
NPORT-EX
2
70V2TRP022924.htm
T. ROWE PRICE RETIREMENT FUNDS, INC.
T.
ROWE
PRICE
Retirement
2050
Fund
February
29,
2024
(Unaudited)
Portfolio
of
Investments
(1)
(1)
$
Value
5/31/23
$
Purchase
Cost
$
Sales
Cost
Shares/Par
$
Value
2/29/24
(Cost
and
value
in
$000s)
BOND
MUTUAL
FUNDS
0
.9
%
T.
Rowe
Price
Funds:
New
Income
Fund
27,565
38,012
10,349
6,777,025
53,674
U.S.
Treasury
Long-Term
Index
Fund
19,423
28,960
3,080
5,437,385
40,726
Limited
Duration
Inflation
Focused
Bond
Fund
200
21,094
139
4,609,506
21,157
International
Bond
Fund
(USD
Hedged)
8,973
8,152
1,476
1,865,438
15,670
Dynamic
Global
Bond
Fund
6,772
4,125
1,237
1,201,008
9,296
Total
Bond
Mutual
Funds
(Cost
$
159,532
)
140,523
EQUITY
MUTUAL
FUNDS
98
.2
%
T.
Rowe
Price
Funds:
Growth
Stock
Fund
1,076,744
1,000,810
200,271
24,453,459
2,359,270
Value
Fund
973,549
1,124,330
116,415
51,906,864
2,309,855
Equity
Index
500
Fund
652,546
617,854
82,978
11,432,546
1,535,277
U.S.
Large-Cap
Core
Fund
348,579
939,409
23,077
39,256,481
1,531,395
Overseas
Stock
Fund
520,559
597,607
52,572
91,630,678
1,161,877
International
Value
Equity
Fund
444,761
516,098
48,161
62,535,469
1,012,449
International
Stock
Fund
434,060
529,048
46,211
50,418,503
978,119
Real
Assets
Fund
278,362
632,544
27,810
65,649,583
892,834
Mid-Cap
Growth
Fund
236,973
320,660
28,727
5,486,541
585,798
Mid-Cap
Value
Fund
214,656
279,053
24,498
16,019,502
524,639
Emerging
Markets
Discovery
Stock
Fund
189,964
257,330
25,667
31,473,939
413,253
Small-Cap
Stock
Fund
159,804
200,733
18,942
6,344,198
377,861
Emerging
Markets
Stock
Fund
162,299
218,113
18,730
9,670,650
330,349
Small-Cap
Value
Fund
130,095
176,534
14,204
6,041,277
313,180
New
Horizons
Fund (2)
105,204
132,522
11,547
4,123,220
246,569
U.S.
Equity
Research
Fund
231,280
40,823
198,223
2,034,663
102,323
Total
Equity
Mutual
Funds
(Cost
$
11,732,969
)
14,675,048
OTHER
MUTUAL
FUNDS
0
.0
%
T.
Rowe
Price
Funds:
Transition
Fund
796
195,436
194,597
16,235
1,616
Total
Other
Mutual
Funds
(Cost
$
1,611
)
1,616
SHORT-TERM
INVESTMENTS
0
.9
%
Money
Market
Funds
0.8%
T.
Rowe
Price
U.S.
Treasury
Money
Fund,
5.40% (3)
170,626
386,029
441,991
114,664,395
114,664
T.
ROWE
PRICE
Retirement
2050
Fund
$
Value
5/31/23
$
Purchase
Cost
$
Sales
Cost
Shares/Par
$
Value
2/29/24
(Cost
and
value
in
$000s)
SHORT-TERM
INVESTMENTS
0.9%
(continued)
U.S.
Treasury
Obligations
0.1%
U.S.
Treasury
Bills,
5.271%,
4/25/24 (4)
10,000,000
9,919
Total
Short-Term
Investments
(Cost
$
124,585
)
124,583
Total
Investments
in
Securities
100.0%
(Cost
$12,018,697)
$
14,941,770
Other
Assets
Less
Liabilities
(0.0)%
(
6,753
)
Net
Assets
100.0%
$
14,935,017
(1)
Each
underlying
Price
Fund
is
an
affiliated
company;
the
fund
is
invested
in
the Z
Class
of
each
underlying
Price
Fund,
except
for
the
Transition
Fund,
if
held,
which
is
a
single
class
fund.
Additional
information
about
each underlying
Price
Fund
is
available
by
calling
1-877-495-1138
and
at www.troweprice.com.
(2)
Non-income
producing
(3)
Seven-day
yield
(4)
At
February
29,
2024,
all
or
a
portion
of
this
security
is
pledged
as
collateral
and/
or
margin
deposit
to
cover
future
funding
obligations.
T.
ROWE
PRICE
Retirement
2050
Fund
FUTURES
CONTRACTS
($000s)
Expiration
Date
Notional
Amount
Value
and
Unrealized
Gain
(Loss)
Short,
164
S&P
500
E-Mini
Index
contracts
3/24
(41,851)
$
(
847
)
Net
payments
(receipts)
of
variation
margin
to
date
660
Variation
margin
receivable
(payable)
on
open
futures
contracts
$
(
187
)
T.
ROWE
PRICE
Retirement
2050
Fund
The
accompanying
notes
are
an
integral
part
of
this
Portfolio
of
Investments.
AFFILIATED
COMPANIES
($000s)
The
fund
may
invest
in
certain
securities
that
are
considered
affiliated
companies.
As
defined
by
the
1940
Act,
an
affiliated
company
is
one
in
which
the
fund
owns
5%
or
more
of
the
outstanding
voting
securities,
or
a
company
that
is
under
common
ownership
or
control.
The
following
securities
were
considered
affiliated
companies
for
all
or
some
portion
of
the
nine
months
ended
February
29,
2024.
Net
realized
gain
(loss),
investment
income,
and
change
in
net
unrealized
gain/loss
reflect
all
activity
for
the
period
then
ended.
Affiliate
Net
Realized
Gain
(Loss)
Change
in
Net
Unrealized
Gain/Loss
Investment
Income
T.
Rowe
Price
Funds:
Dynamic
Global
Bond
Fund
$
(
98
)
$
(
364
)
$
—
Emerging
Markets
Discovery
Stock
Fund
(
2,117
)
(
8,374
)
7,461
Emerging
Markets
Stock
Fund
(
693
)
(
31,333
)
3,977
Equity
Index
500
Fund
23,878
347,855
7,997
Growth
Stock
Fund
88,219
481,987
3,776
International
Bond
Fund
(USD
Hedged)
(
110
)
21
—
International
Stock
Fund
2,756
61,222
8,022
International
Value
Equity
Fund
4,808
99,751
16,370
Limited
Duration
Inflation
Focused
Bond
Fund
(
3
)
2
52
Mid-Cap
Growth
Fund
17,057
56,892
1,943
Mid-Cap
Value
Fund
16,082
55,428
4,262
New
Horizons
Fund
903
20,390
—
New
Income
Fund
(
1,231
)
(
1,554
)
1,062
Overseas
Stock
Fund
4,370
96,283
15,039
Real
Assets
Fund
298
9,738
9,764
Small-Cap
Stock
Fund
7,193
36,266
1,735
Small-Cap
Value
Fund
4,748
20,755
1,960
Transition
Fund
(
1,222
)
(
19
)
175
U.S.
Equity
Research
Fund
7,472
28,443
1,058
U.S.
Large-Cap
Core
Fund
3,181
266,484
6,150
U.S.
Treasury
Long-Term
Index
Fund
(
624
)
(
4,577
)
616
Value
Fund
24,692
328,391
20,143
U.S.
Treasury
Money
Fund,
5.40%
—
—
4,620
Totals
$
199,559
#
$
1,863,687
$
116,182
+
#
Capital
gain
distributions
from
underlying
Price
funds
represented
$88,634
of
the
net
realized
gain
(loss).
+
Investment
income
comprised
$116,182
of
income
distributions
from
underlying
Price
Funds.
T.
ROWE
PRICE
Retirement
2050
Fund
Unaudited
Notes
to
Portfolio
of
Investments
T.
Rowe
Price
Retirement
2050
Fund (the
fund) is
registered
under
the
Investment
Company
Act
of
1940
(the
1940
Act)
as
an
open-end
management
investment
company
and
follows
accounting
and
reporting
guidance
of
the
Financial
Accounting
Standards
Board
Accounting
Standards
Codification
Topic
946.
The
accompanying
Portfolio
of
Investments
was
prepared
in
accordance
with
accounting
principles
generally
accepted
in
the
United
States
of
America
(GAAP).
On
February
16,
2024,
the
fund
acquired
substantially
all
of
the
assets
of
the
T.
Rowe
Price
Retirement
I
2050
Fund
in
exchange
for
I
Class
shares
of
the
fund,
pursuant
to
the
Agreement
and
Plan
of
Reorganization
dated
June
26,
2023.
For
additional
information
on
the
fund’s
significant
accounting
policies
and
investment
related
disclosures,
please
refer
to
the
fund’s
most
recent
semiannual
or
annual
shareholder
report
and
its
prospectus.
VALUATION
Fair
Value
The
fund’s
financial
instruments
are
valued
at
the
close
of
the
New
York
Stock
Exchange
(NYSE),
normally
4
p.m.
ET,
each
day
the
NYSE
is
open
for
business.
The
fund’s
financial
instruments
are
reported
at
fair
value,
which
GAAP
defines
as
the
price
that
would
be
received
to
sell
an
asset
or
paid
to
transfer
a
liability
in
an
orderly
transaction
between
market
participants
at
the
measurement
date.
The
fund’s
Board
of
Directors
(the
Board)
has
designated
T.
Rowe
Price
Associates,
Inc.
as
the
fund’s
valuation
designee
(Valuation
Designee).
Subject
to
oversight
by
the
Board,
the
Valuation
Designee
performs
the
following
functions
in
performing
fair
value
determinations:
assesses
and
manages
valuation
risks;
establishes
and
applies
fair
value
methodologies;
tests
fair
value
methodologies;
and
evaluates
pricing
vendors
and
pricing
agents.
The
duties
and
responsibilities
of
the
Valuation
Designee
are
performed
by
its
Valuation
Committee.
The
Valuation
Designee
provides
periodic
reporting
to
the
Board
on
valuation
matters.
Various
valuation
techniques
and
inputs
are
used
to
determine
the
fair
value
of
financial
instruments.
GAAP
establishes
the
following
fair
value
hierarchy
that
categorizes
the
inputs
used
to
measure
fair
value:
Level
1 – quoted
prices
(unadjusted)
in
active
markets
for
identical
financial
instruments
that
the
fund
can
access
at
the
reporting
date
Level
2 – inputs
other
than
Level
1
quoted
prices
that
are
observable,
either
directly
or
indirectly
(including,
but
not
limited
to,
quoted
prices
for
similar
financial
instruments
in
active
markets,
quoted
prices
for
identical
or
similar
financial
instruments
in
inactive
markets,
interest
rates
and
yield
curves,
implied
volatilities,
and
credit
spreads)
T.
ROWE
PRICE
Retirement
2050
Fund
Level
3 – unobservable
inputs
(including
the
Valuation Designee’s
assumptions
in
determining
fair
value)
Observable
inputs
are
developed
using
market
data,
such
as
publicly
available
information
about
actual
events
or
transactions,
and
reflect
the
assumptions
that
market
participants
would
use
to
price
the
financial
instrument.
Unobservable
inputs
are
those
for
which
market
data
are
not
available
and
are
developed
using
the
best
information
available
about
the
assumptions
that
market
participants
would
use
to
price
the
financial
instrument.
GAAP
requires
valuation
techniques
to
maximize
the
use
of
relevant
observable
inputs
and
minimize
the
use
of
unobservable
inputs.
When
multiple
inputs
are
used
to
derive
fair
value,
the
financial
instrument
is
assigned
to
the
level
within
the
fair
value
hierarchy
based
on
the
lowest-level
input
that
is
significant
to
the
fair
value
of
the
financial
instrument.
Input
levels
are
not
necessarily
an
indication
of
the
risk
or
liquidity
associated
with
financial
instruments
at
that
level
but
rather
the
degree
of
judgment
used
in
determining
those
values.
Valuation
Techniques
Investments
in
the
underlying
Price
Funds
are
valued
at
their
closing
net
asset
value
per
share
on
the
day
of
valuation.
Debt
securities
generally
are
traded
in
the
over-the-counter
(OTC)
market
and
are
valued
at
prices
furnished
by
independent
pricing
services
or
by
broker
dealers
who
make
markets
in
such
securities.
When
valuing
securities,
the
independent
pricing
services
consider
the
yield
or
price
of
bonds
of
comparable
quality,
coupon,
maturity,
and
type,
as
well
as
prices
quoted
by
dealers
who
make
markets
in
such
securities.
Futures
contracts
are
valued
at
closing
settlement
prices.
T.
ROWE
PRICE
Retirement
2050
Fund
Valuation
Inputs
The
following
table
summarizes
the
fund’s
financial
instruments,
based
on
the
inputs
used
to
determine
their
fair
values
on
February
29,
2024
(for
further
detail
by
category,
please
refer
to
the
accompanying
Portfolio
of
Investments):
OTHER
MATTERS
Unpredictable
events
such
as
environmental
or
natural
disasters,
war
and
conflict,
terrorism,
geopolitical
events,
and
public
health
epidemics
and
similar
public
health
threats
may
significantly
affect
the
economy
and
the
markets
and
issuers
in
which
the
fund
invests.
Certain
events
may
cause
instability
across
global
markets,
including
reduced
liquidity
and
disruptions
in
trading
markets,
while
some
events
may
affect
certain
geographic
regions,
countries,
sectors,
and
industries
more
significantly
than
others,
and
exacerbate
other
pre-existing
political,
social,
and
economic
risks.
The
global
outbreak
of
COVID-19
and
the
related
governmental
and
public
responses
have
led
and
may
continue
to
lead
to
increased
market
volatility
and
the
potential
for
illiquidity
in
certain
classes
of
securities
and
sectors
of
the
market
either
in
specific
countries
or
worldwide.
In
February
2022,
Russian
forces
entered
Ukraine
and
commenced
an
armed
conflict,
leading
to
economic
sanctions
imposed
on
Russia
that
target
certain
of
its
citizens
and
issuers
and
sectors
of
the
Russian
economy,
creating
impacts
on
Russian-related
stocks
and
debt
and
greater
volatility
in
global
markets.
($000s)
Level
1
Level
2
Level
3
Total
Value
Assets
Bond
Mutual
Funds
$
140,523
$
—
$
—
$
140,523
Equity
Mutual
Funds
14,675,048
—
—
14,675,048
Other
Mutual
Funds
1,616
—
—
1,616
Short-Term
Investments
114,664
9,919
—
124,583
Total
$
14,931,851
$
9,919
$
—
$
14,941,770
Liabilities
Futures
Contracts*
$
847
$
—
$
—
$
847
*
The
fair
value
presented
includes
cumulative
gain
(loss)
on
open
futures
contracts;
however,
the
net
value
reflected
on
the
accompanying
Portfolio
of
Investments
is
only
the
unsettled
variation
margin
receivable
(payable)
at
that
date.
T.
ROWE
PRICE
Retirement
2050
Fund
In
March
2023,
the
banking
industry
experienced
heightened
volatility,
which
sparked
concerns
of
potential
broader
adverse
market
conditions.
The
extent
of
impact
of
these
events
on
the
US
and
global
markets
is
highly
uncertain.
These
are
recent
examples
of
global
events
which
may
have
a
negative
impact
on
the
values
of
certain
portfolio
holdings
or the
fund’s
overall
performance.
Management
is
actively
monitoring
the
risks
and
financial
impacts
arising
from
these
events.
F166-054Q3
02/24