T.

ROWE

PRICE

Global

Growth

Stock

Fund

July

31,

2023

(Unaudited)

1

Portfolio

of

Investments

‡

Shares

$

Value

(

Cost

and

value

in

$000s)

‡

ARGENTINA

0.5%

Common

Stocks

0.5%

MercadoLibre

(USD) (1)

4,106‌

5,084‌

Total

Argentina

(Cost

$1,246

)

5,084‌

AUSTRALIA

0.7%

Common

Stocks

0.7%

BHP

Group 

194,233‌

6,045‌

Worley 

158,283‌

1,852‌

Total

Australia

(Cost

$7,404

)

7,897‌

BRAZIL

0.6%

Common

Stocks

0.6%

NU

Holdings,

Class

A

(USD) (1)

842,427‌

6,706‌

Total

Brazil

(Cost

$3,737

)

6,706‌

CANADA

1.9%

Common

Stocks

1.7%

Brookfield

(USD) 

58,593‌

2,045‌

National

Bank

of

Canada 

53,386‌

4,181‌

Nutrien

(USD) 

64,080‌

4,414‌

Shopify,

Class

A

(USD) (1)

74,117‌

5,009‌

West

Fraser

Timber 

29,100‌

2,452‌

18,101‌

Limited

Partnerships

0.2%

Brookfield

Renewable

Partners

(USD) 

52,900‌

1,542‌

1,542‌

Total

Canada

(Cost

$15,219

)

19,643‌

CAYMAN

ISLANDS

0.6%

Common

Stocks

0.1%

ANT

International,

Class

C,

Acquisition

Date:

6/7/18,

Cost $2,115

(USD) (2)(3)

554,948‌

1,093‌

1,093‌

T.

ROWE

PRICE

Global

Growth

Stock

Fund

2

Shares

$

Value

(Cost

and

value

in

$000s)

Convertible

Preferred

Stocks

0.5%

ByteDance,

Series

E,

Acquisition

Date:

7/8/19,

Cost $1,202

(USD) (1)(2)(3)

24,387‌

4,828‌

4,828‌

Total

Cayman

Islands

(Cost

$3,317

)

5,921‌

CHINA

3.5%

Common

Stocks

2.6%

Alibaba

Group

Holding

(HKD) (1)

305,968‌

3,910‌

China

Resources

Mixc

Lifestyle

Services

(HKD) 

625,800‌

3,029‌

JD

Health

International

(HKD) (1)

223,550‌

1,634‌

JD.com,

Class

A

(HKD) 

68,798‌

1,424‌

Kanzhun,

ADR

(USD) (1)

117,763‌

2,200‌

Li

Auto,

Class

A

(HKD) (1)

173,400‌

3,722‌

Tencent

Holdings

(HKD) 

130,800‌

6,012‌

Wuxi

Biologics

Cayman

(HKD) (1)

317,500‌

1,832‌

Yum

China

Holdings

(USD) 

58,500‌

3,570‌

27,333‌

Common

Stocks

-

China

A

Shares

0.9%

Glodon,

A

Shares

(CNH) 

419,860‌

1,900‌

Hundsun

Technologies,

A

Shares

(CNH) 

300,080‌

1,729‌

NARI

Technology,

A

Shares

(CNH) 

790,906‌

2,692‌

Shenzhen

Inovance

Technology,

A

Shares

(CNH) 

271,000‌

2,694‌

9,015‌

Total

China

(Cost

$33,744

)

36,348‌

FINLAND

0.1%

Common

Stocks

0.1%

Sampo,

Class

A 

19,801‌

873‌

Total

Finland

(Cost

$859

)

873‌

FRANCE

2.4%

Common

Stocks

2.4%

Airbus 

50,804‌

7,484‌

ArcelorMittal 

121,631‌

3,518‌

EssilorLuxottica 

14,089‌

2,834‌

Eurofins

Scientific (4)

68,470‌

4,709‌

LVMH

Moet

Hennessy

Louis

Vuitton 

3,902‌

3,624‌

Schneider

Electric 

18,800‌

3,353‌

Total

France

(Cost

$20,038

)

25,522‌

T.

ROWE

PRICE

Global

Growth

Stock

Fund

3

Shares

$

Value

(Cost

and

value

in

$000s)

GERMANY

4.0%

Common

Stocks

3.5%

Celonis,

Acquisition

Date:

6/17/21,

Cost $664

(USD) (1)(2)(3)

1,795‌

400‌

Deutsche

Telekom 

132,585‌

2,891‌

Evotec (1)

526,614‌

13,872‌

flatexDEGIRO (1)(4)

89,154‌

879‌

Hannover

Rueck 

15,591‌

3,327‌

Infineon

Technologies 

70,648‌

3,104‌

Siemens 

31,667‌

5,397‌

Symrise 

44,659‌

4,878‌

Zalando (1)

48,561‌

1,677‌

36,425‌

Convertible

Preferred

Stocks

0.2%

Celonis,

Series

D,

Acquisition

Date:

6/17/21

-

10/4/22,

Cost $2,668

(USD) (1)(2)(3)

7,214‌

1,609‌

1,609‌

Preferred

Stocks

0.3%

Sartorius 

8,494‌

3,504‌

3,504‌

Total

Germany

(Cost

$35,170

)

41,538‌

HONG

KONG

0.7%

Common

Stocks

0.7%

AIA

Group 

413,400‌

4,136‌

Budweiser

Brewing

APAC 

1,510,500‌

3,684‌

Total

Hong

Kong

(Cost

$7,237

)

7,820‌

INDIA

5.3%

Common

Stocks

5.1%

Axis

Bank 

756,106‌

8,787‌

Britannia

Industries 

24,349‌

1,424‌

Container

Corp.

of

India 

322,106‌

2,722‌

Godrej

Consumer

Products (1)

234,582‌

2,965‌

Havells

India 

106,935‌

1,738‌

HDFC

Asset

Management 

37,693‌

1,162‌

HDFC

Bank 

361,010‌

7,242‌

HDFC

Bank,

ADR

(USD) 

42,554‌

2,906‌

Jio

Financial

Services (1)

143,899‌

442‌

Kotak

Mahindra

Bank 

211,464‌

4,780‌

T.

ROWE

PRICE

Global

Growth

Stock

Fund

4

Shares

$

Value

(Cost

and

value

in

$000s)

One

97

Communications (1)

435,633‌

4,247‌

Pidilite

Industries 

54,285‌

1,731‌

Reliance

Industries 

143,899‌

4,461‌

Think

&

Learn,

Acquisition

Date:

12/23/20

-

1/15/21,

Cost $1,309 (1)(2)(3)

821‌

807‌

United

Spirits (1)

262,566‌

3,241‌

Voltas 

237,067‌

2,247‌

Zomato (1)

2,136,664‌

2,189‌

53,091‌

Convertible

Preferred

Stocks

0.2%

Think

&

Learn,

Series

F,

Acquisition

Date:

12/23/20

-

4/29/21,

Cost $6,344 (1)(2)(3)

1,977‌

1,943‌

1,943‌

Total

India

(Cost

$45,607

)

55,034‌

INDONESIA

2.4%

Common

Stocks

2.4%

Bank

Central

Asia 

14,318,000‌

8,671‌

Kalbe

Farma 

26,176,600‌

3,325‌

Sumber

Alfaria

Trijaya 

72,347,900‌

12,955‌

Total

Indonesia

(Cost

$10,225

)

24,951‌

ITALY

0.4%

Common

Stocks

0.4%

PRADA

(HKD) 

561,200‌

3,995‌

Total

Italy

(Cost

$3,716

)

3,995‌

JAPAN

2.6%

Common

Stocks

2.6%

Daiichi

Sankyo 

218,500‌

6,730‌

Daikin

Industries 

19,900‌

4,024‌

Keyence 

11,200‌

5,026‌

Mitsui 

114,800‌

4,480‌

Nippon

Sanso

Holdings 

83,900‌

2,029‌

Recruit

Holdings 

80,000‌

2,771‌

Sony

Group 

23,000‌

2,154‌

Total

Japan

(Cost

$19,285

)

27,214‌

T.

ROWE

PRICE

Global

Growth

Stock

Fund

5

Shares

$

Value

(Cost

and

value

in

$000s)

NETHERLANDS

1.9%

Common

Stocks

1.9%

Adyen (1)

2,451‌

4,549‌

Argenx,

ADR

(USD) (1)

8,932‌

4,506‌

ASM

International 

4,847‌

2,303‌

ASML

Holding

(USD) (4)

9,567‌

6,854‌

BE

Semiconductor

Industries 

13,680‌

1,633‌

Total

Netherlands

(Cost

$8,483

)

19,845‌

NIGERIA

0.1%

Common

Stocks

0.1%

Nestle

Nigeria 

410,433‌

587‌

Total

Nigeria

(Cost

$908

)

587‌

PERU

0.6%

Common

Stocks

0.6%

InRetail

Peru

(USD) 

202,787‌

6,814‌

Total

Peru

(Cost

$4,769

)

6,814‌

PHILIPPINES

2.9%

Common

Stocks

2.9%

BDO

Unibank 

5,052,747‌

13,363‌

Jollibee

Foods 

820,970‌

3,813‌

SM

Investments 

505,256‌

8,395‌

Universal

Robina 

2,161,250‌

4,833‌

Total

Philippines

(Cost

$26,920

)

30,404‌

SINGAPORE

0.5%

Common

Stocks

0.5%

Grab

Holdings,

Class

A

(USD) (1)

374,135‌

1,433‌

Sea,

ADR

(USD) (1)

60,152‌

4,001‌

Total

Singapore

(Cost

$3,492

)

5,434‌

T.

ROWE

PRICE

Global

Growth

Stock

Fund

6

Shares

$

Value

(Cost

and

value

in

$000s)

SOUTH

AFRICA

0.1%

Common

Stocks

0.1%

Naspers,

Class

N 

7,423‌

1,459‌

Total

South

Africa

(Cost

$1,063

)

1,459‌

SOUTH

KOREA

0.3%

Common

Stocks

0.3%

Samsung

Electronics 

67,102‌

3,674‌

Total

South

Korea

(Cost

$2,879

)

3,674‌

SPAIN

0.4%

Common

Stocks

0.4%

Amadeus

IT

Group 

57,076‌

4,094‌

Total

Spain

(Cost

$3,253

)

4,094‌

SWEDEN

0.4%

Common

Stocks

0.4%

Assa

Abloy,

Class

B 

75,814‌

1,823‌

Hexagon,

Class

B 

226,872‌

2,200‌

Total

Sweden

(Cost

$2,916

)

4,023‌

SWITZERLAND

0.2%

Common

Stocks

0.2%

Lonza

Group 

3,985‌

2,315‌

Total

Switzerland

(Cost

$1,101

)

2,315‌

TAIWAN

0.7%

Common

Stocks

0.7%

Taiwan

Semiconductor

Manufacturing,

ADR

(USD) 

73,112‌

7,249‌

Total

Taiwan

(Cost

$6,330

)

7,249‌

UNITED

KINGDOM

3.9%

Common

Stocks

3.6%

Ashtead

Group 

52,441‌

3,880‌

AstraZeneca,

ADR

(USD) 

97,484‌

6,990‌

T.

ROWE

PRICE

Global

Growth

Stock

Fund

7

Shares

$

Value

(Cost

and

value

in

$000s)

Endava,

ADR

(USD) (1)(4)

24,324‌

1,276‌

Experian 

154,172‌

5,958‌

Farfetch,

Class

A

(USD) (1)(4)

279,411‌

1,615‌

InterContinental

Hotels

Group 

26,737‌

1,976‌

London

Stock

Exchange

Group 

39,063‌

4,242‌

Rentokil

Initial 

779,203‌

6,354‌

Snyk,

Acquisition

Date:

9/3/21,

Cost $1,444

(USD) (1)(2)(3)

100,647‌

1,022‌

Unilever,

ADR

(USD) (4)

73,038‌

3,924‌

37,237‌

Convertible

Preferred

Stocks

0.3%

Snyk,

Series

F,

Acquisition

Date:

9/3/21

-

12/14/22,

Cost $2,406

(USD) (1)(2)(3)

168,674‌

1,714‌

YuLife

Holdings,

Series

C,

Acquisition

Date:

10/11/22,

Cost $1,523 (1)(2)(3)

77,036‌

1,763‌

3,477‌

Total

United

Kingdom

(Cost

$33,013

)

40,714‌

UNITED

STATES

59.6%

Common

Stocks

56.3%

Accenture,

Class

A 

15,227‌

4,817‌

Adobe (1)

5,845‌

3,192‌

Advanced

Micro

Devices (1)

57,345‌

6,560‌

Agilent

Technologies 

25,531‌

3,109‌

Alnylam

Pharmaceuticals (1)

8,815‌

1,722‌

Alphabet,

Class

C (1)

184,726‌

24,589‌

Amazon.com (1)

183,142‌

24,482‌

American

International

Group 

107,940‌

6,507‌

Amphenol,

Class

A 

65,729‌

5,804‌

Apollo

Global

Management 

60,952‌

4,980‌

Apple 

165,251‌

32,464‌

Atlassian,

Class

A (1)

14,838‌

2,700‌

AvalonBay

Communities,

REIT 

24,938‌

4,705‌

Bank

of

America 

177,768‌

5,689‌

BILL

Holdings (1)(4)

15,678‌

1,965‌

Cadence

Design

Systems (1)

16,184‌

3,787‌

Canva,

Acquisition

Date:

8/16/21

-

12/22/21,

Cost $3,134 (1)(2)

(3)

1,839‌

1,305‌

CF

Industries

Holdings 

66,740‌

5,478‌

Charles

Schwab 

132,106‌

8,732‌

Chubb 

35,838‌

7,326‌

Cigna

Group 

24,800‌

7,318‌

Citigroup 

46,053‌

2,195‌

Colgate-Palmolive 

59,430‌

4,532‌

Confluent,

Class

A (1)(4)

45,263‌

1,563‌

T.

ROWE

PRICE

Global

Growth

Stock

Fund

8

Shares

$

Value

(Cost

and

value

in

$000s)

ConocoPhillips 

45,860‌

5,399‌

Constellation

Brands,

Class

A 

19,288‌

5,262‌

Constellation

Energy 

10,560‌

1,021‌

Coupang (1)

198,498‌

3,603‌

CSX 

141,403‌

4,712‌

Cummins 

10,129‌

2,642‌

Danaher 

14,142‌

3,607‌

Darling

Ingredients (1)(4)

36,970‌

2,560‌

DoorDash,

Class

A (1)

34,736‌

3,154‌

Eli

Lilly 

31,055‌

14,116‌

EOG

Resources 

40,361‌

5,349‌

Epic

Games,

Acquisition

Date:

6/18/20

-

3/29/21,

Cost $4,316 (1)(2)(3)

7,021‌

4,849‌

EQT (4)

177,443‌

7,485‌

Equity

LifeStyle

Properties,

REIT (4)

34,981‌

2,490‌

Etsy (1)(4)

15,654‌

1,591‌

FedEx 

15,267‌

4,121‌

Fifth

Third

Bancorp 

168,468‌

4,902‌

Fiserv (1)

129,576‌

16,354‌

Freeport-McMoRan 

126,554‌

5,651‌

General

Electric 

65,423‌

7,474‌

Hess 

41,802‌

6,343‌

Hubbell 

9,158‌

2,857‌

HubSpot (1)

2,756‌

1,600‌

Huntington

Bancshares 

301,704‌

3,693‌

IDEX 

13,011‌

2,938‌

Intuit 

8,905‌

4,557‌

Intuitive

Surgical (1)

23,623‌

7,663‌

JPMorgan

Chase 

54,970‌

8,683‌

KKR (4)

17,743‌

1,054‌

Las

Vegas

Sands (1)

68,508‌

4,097‌

Liberty

Media-Liberty

Formula

One,

Class

C (1)

81,921‌

5,947‌

Linde 

34,765‌

13,582‌

LPL

Financial

Holdings 

18,300‌

4,197‌

Magic

Leap,

Class

A,

Acquisition

Date:

10/12/17,

Cost $1,153 (1)(2)(3)

2,372‌

46‌

Manhattan

Associates (1)

13,441‌

2,562‌

Marsh

&

McLennan 

11,951‌

2,252‌

Mastercard,

Class

A 

21,053‌

8,301‌

McKesson 

16,498‌

6,639‌

Meta

Platforms,

Class

A (1)

22,300‌

7,105‌

MetLife 

69,886‌

4,401‌

Microsoft 

110,879‌

37,246‌

MongoDB (1)

4,932‌

2,088‌

Monster

Beverage (1)

43,952‌

2,527‌

Morgan

Stanley 

38,323‌

3,509‌

T.

ROWE

PRICE

Global

Growth

Stock

Fund

9

Shares

$

Value

(Cost

and

value

in

$000s)

Netflix (1)

15,833‌

6,950‌

NVIDIA 

55,211‌

25,800‌

Old

Dominion

Freight

Line 

5,323‌

2,233‌

Paylocity

Holding (1)(4)

13,609‌

3,087‌

Procter

&

Gamble 

44,106‌

6,894‌

Rivian

Automotive,

Class

A (1)(4)

137,280‌

3,794‌

ROBLOX,

Class

A (1)

25,577‌

1,004‌

Roper

Technologies 

39,523‌

19,487‌

Salesforce (1)

23,814‌

5,358‌

Schlumberger 

128,506‌

7,497‌

Sempra 

15,688‌

2,338‌

ServiceNow (1)

8,566‌

4,994‌

Stripe,

Class

B,

Acquisition

Date:

12/17/19

-

5/18/21,

Cost $859 (1)(2)(3)

32,874‌

720‌

Stryker 

22,741‌

6,445‌

Synopsys (1)

7,597‌

3,432‌

Teledyne

Technologies (1)

10,465‌

4,024‌

Tesla (1)

29,662‌

7,932‌

Thermo

Fisher

Scientific 

11,490‌

6,304‌

Trade

Desk,

Class

A (1)

24,948‌

2,277‌

Trimble (1)

65,103‌

3,502‌

UnitedHealth

Group 

18,350‌

9,292‌

Veeva

Systems,

Class

A (1)

10,337‌

2,111‌

Vertex

Pharmaceuticals (1)

10,074‌

3,549‌

Vulcan

Materials 

9,776‌

2,156‌

Walmart 

42,602‌

6,810‌

Waste

Connections 

36,426‌

5,142‌

Weyerhaeuser,

REIT (4)

68,531‌

2,334‌

Workday,

Class

A (1)

18,988‌

4,503‌

Zoetis 

20,698‌

3,893‌

589,612‌

Convertible

Preferred

Stocks

3.3%

Canva,

Series

A,

Acquisition

Date:

11/4/21

-

12/17/21,

Cost $150 (1)(2)(3)

88‌

62‌

Canva,

Series

A-3,

Acquisition

Date:

11/4/21

-

12/17/21,

Cost $17 (1)(2)(3)

10‌

7‌

Databricks,

Series

H,

Acquisition

Date:

8/31/21,

Cost $1,107 (1)

(2)(3)

15,066‌

1,102‌

Lilac

Solutions,

Series

B,

Acquisition

Date:

9/8/21,

Cost $4,528 (1)(2)(3)

344,903‌

4,708‌

PsiQuantum,

Series

D,

Acquisition

Date:

9/29/21,

Cost $3,614 (1)(2)(3)

137,791‌

3,614‌

Rappi,

Series

E,

Acquisition

Date:

9/8/20,

Cost $4,762 (1)(2)(3)

79,700‌

2,870‌

Rappi,

Series

F,

Acquisition

Date:

7/8/21,

Cost $799 (1)(2)(3)

12,400‌

446‌

Redwood

Materials,

Series

C,

Acquisition

Date:

5/28/21,

Cost $4,001 (1)(2)(3)

84,400‌

4,029‌

T.

ROWE

PRICE

Global

Growth

Stock

Fund

10

Shares

$

Value

(Cost

and

value

in

$000s)

Redwood

Materials,

Series

C,

Acquisition

Date:

6/2/23,

Cost $1,880 (1)(2)(3)

39,374‌

1,880‌

SB

Technology,

Series

D,

Acquisition

Date:

12/10/21,

Cost $5,863 (1)(2)(3)

621,837‌

5,863‌

Sila

Nano,

Series

F,

Acquisition

Date:

1/7/21,

Cost $846 (1)(2)(3)

20,496‌

416‌

SpaceX,

Series

K,

Acquisition

Date:

5/21/19,

Cost $2,163 (1)(2)

(3)

10,605‌

8,166‌

Waymo,

Series

A-2,

Acquisition

Date:

5/8/20,

Cost $2,587 (1)

(2)(3)

30,126‌

1,149‌

Waymo,

Series

B-2,

Acquisition

Date:

6/11/21,

Cost $209 (1)(2)

(3)

2,283‌

87‌

34,399‌

Total

United

States

(Cost

$438,790

)

624,011‌

VIETNAM

2.7%

Common

Stocks

2.7%

Asia

Commercial

Bank 

20,000‌

20‌

FPT 

1,866,576‌

7,120‌

Masan

Group 

3,166,570‌

11,680‌

Military

Commercial

Joint

Stock

Bank 

7,441,859‌

6,293‌

Vietnam

Technological

&

Commercial

Joint

Stock

Bank (1)

2,223,700‌

3,400‌

Total

Vietnam

(Cost

$21,573

)

28,513‌

SHORT-TERM

INVESTMENTS

0.0%

Money

Market

Funds

0.0%

T.

Rowe

Price

Government

Reserve

Fund,

5.32% (5)(6)

1,464‌

1‌

Total

Short-Term

Investments

(Cost

$1)

1‌

T.

ROWE

PRICE

Global

Growth

Stock

Fund

11

Shares

$

Value

(Cost

and

value

in

$000s)

SECURITIES

LENDING

COLLATERAL

2.9%

INVESTMENTS

IN

A

POOLED

ACCOUNT

THROUGH

SECURITIES

LENDING

PROGRAM

WITH

JPMORGAN

CHASE

BANK

2.9%

Money

Market

Funds

2.9%

T.

Rowe

Price

Government

Reserve

Fund,

5.32% (5)(6)

30,005,998‌

30,006‌

Total

Investments

in

a

Pooled

Account

through

Securities

Lending

Program

with

JPMorgan

Chase

Bank

30,006‌

Total

Securities

Lending

Collateral

(Cost

$30,006)

30,006‌

Total

Investments

in

Securities

102.9%

(Cost

$792,301)

$

1,077,689‌

Other

Assets

Less

Liabilities

(2.9)%

(30,688)

Net

Assets

100.0%

$

1,047,001‌

‡

Country

classifications

are

generally

based

on

MSCI

categories

or

another

unaffiliated

third

party

data

provider;

Shares

are

denominated

in

the

currency

of

the

country

presented

unless

otherwise

noted.

(1)

Non-income

producing

(2)

Security

cannot

be

offered

for

public

resale

without

first

being

registered

under

the

Securities

Act

of

1933

and

related

rules

("restricted

security").

Acquisition

date

represents

the

day

on

which

an

enforceable

right

to

acquire

such

security

is

obtained

and

is

presented

along

with

related

cost

in

the

security

description.

The

fund

may

have

registration

rights

for

certain

restricted

securities.

Any

costs

related

to

such

registration

are

generally

borne

by

the

issuer.

The

aggregate

value

of

restricted

securities

(excluding

144A

holdings)

at

period

end

amounts

to

$56,498

and

represents

5.4%

of

net

assets.

(3)

Level

3

in

fair

value

hierarchy.

(4)

All

or

a

portion

of

this

security

is

on

loan

at

July

31,

2023.

(5)

Seven-day

yield

(6)

Affiliated

Companies

ADR

American

Depositary

Receipts

CNH

Offshore

China

Renminbi

HKD

Hong

Kong

Dollar

REIT

A

domestic

Real

Estate

Investment

Trust

whose

distributions

pass-through

with

original

tax

character

to

the

shareholder

USD

U.S.

Dollar

T.

ROWE

PRICE

Global

Growth

Stock

Fund

12

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

July

31,

2023.

Net

realized

gain

(loss),

investment

income,

change

in

net

unrealized

gain/loss,

and

purchase

and

sales

cost

reflect

all

activity

for

the

period

then

ended.

Affiliate

Net

Realized

Gain

(Loss)

Change

in

Net

Unrealized

Gain/Loss

Investment

Income

T.

Rowe

Price

Government

Reserve

Fund,

5.32%

$

—‌

$

—‌

$

43‌++

Totals

$

—‌#

$

—‌

$

43‌+

Supplementary

Investment

Schedule

Affiliate

Value

10/31/22

Purchase

Cost

Sales

Cost

Value

07/31/23

T.

Rowe

Price

Government

Reserve

Fund,

5.32%

$

34,259‌

 ¤

 ¤

$

30,007‌

Total

$

30,007‌^

#

Capital

gain

distributions

from

underlying

Price

funds

represented

$0

of

the

net

realized

gain

(loss).

++

Excludes

earnings

on

securities

lending

collateral,

which

are

subject

to

rebates

and

fees.

+

Investment

income

comprised

$43

of

dividend

income

and

$0

of

interest

income.

¤

Purchase

and

sale

information

not

shown

for

cash

management

funds.

^

The

cost

basis

of

investments

in

affiliated

companies

was

$30,007.

T.

ROWE

PRICE

Global

Growth

Stock

Fund

Unaudited

Notes

to

Portfolio

of

Investments

13

T.

Rowe

Price

Global

Growth

Stock

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).

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,

and

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

Global

Growth

Stock

Fund

14

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 

Equity

securities,

including

exchange-traded

funds, listed

or

regularly

traded

on

a

securities

exchange

or

in

the

over-the-counter

(OTC)

market

are

valued

at

the

last

quoted

sale

price

or,

for

certain

markets,

the

official

closing

price

at

the

time

the

valuations

are

made.

OTC

Bulletin

Board

securities

are

valued

at

the

mean

of

the

closing

bid

and

asked

prices.

A

security

that

is

listed

or

traded

on

more

than

one

exchange

is

valued

at

the

quotation

on

the

exchange

determined

to

be

the

primary

market

for

such

security.

Listed

securities

not

traded

on

a

particular

day

are

valued

at

the

mean

of

the

closing

bid

and

asked

prices

for

domestic

securities

and

the

last

quoted

sale

or

closing

price

for

international

securities.

The

last

quoted

prices

of

non-U.S.

equity

securities

may

be

adjusted

to

reflect

the

fair

value

of

such

securities

at

the

close

of

the

NYSE,

if

the Valuation

Designee

determines

that

developments

between

the

close

of

a

foreign

market

and

the

close

of

the

NYSE

will

affect

the

value

of

some

or

all

of its portfolio

securities.

Each

business

day,

the

Valuation

Designee uses

information

from

outside

pricing

services

to

evaluate

the

quoted

prices

of

portfolio

securities

and,

if

appropriate,

decide whether

it

is

necessary

to

adjust

quoted

prices

to

reflect

fair

value

by

reviewing

a

variety

of

factors,

including

developments

in

foreign

markets,

the

performance

of

U.S.

securities

markets,

and

the

performance

of

instruments

trading

in

U.S.

markets

that

represent

foreign

securities

and

baskets

of

foreign

securities. The Valuation

Designee

uses

outside

pricing

services

to

provide

it

with

quoted

prices

and

information

to

evaluate

or

adjust

those

prices.

The Valuation

Designee

cannot

predict

how

often

it

will

use

quoted

prices

and

how

often

it

will

determine

it

necessary

to

adjust

those

prices

to

reflect

fair

value.

T.

ROWE

PRICE

Global

Growth

Stock

Fund

15

Investments

denominated

in

foreign

currencies

are

translated

into

U.S.

dollar

values

each

day

at

the

prevailing

exchange

rate,

using

the

mean

of

the

bid

and

asked

prices

of

such

currencies

against

U.S.

dollars

as

provided

by

an

outside

pricing

service.

Investments

in

mutual

funds

are

valued

at

the

mutual

fund’s

closing

NAV

per

share

on

the

day

of

valuation.

Investments

for

which

market

quotations are

not

readily

available

or

deemed

unreliable

are

valued

at

fair

value

as

determined

in

good

faith

by

the

Valuation

Designee.

The

Valuation

Designee

has

adopted

methodologies

for

determining

the

fair

value

of

investments

for

which

market

quotations

are

not

readily

available

or

deemed

unreliable,

including

the

use

of

other

pricing

sources.

Factors

used

in

determining

fair

value

vary

by

type

of

investment

and

may

include

market

or

investment

specific

considerations.

The

Valuation

Designee typically

will

afford

greatest

weight

to

actual

prices

in

arm’s

length

transactions,

to

the

extent

they

represent

orderly

transactions

between

market

participants,

transaction

information

can

be

reliably

obtained,

and

prices

are

deemed

representative

of

fair

value.

However,

the

Valuation

Designee may

also

consider

other

valuation

methods

such

as

market-based

valuation

multiples;

a

discount

or

premium

from

market

value

of

a

similar,

freely

traded

security

of

the

same

issuer;

discounted

cash

flows;

yield

to

maturity;

or

some

combination.

Fair

value

determinations

are

reviewed

on

a

regular

basis.

Because

any

fair

value

determination

involves

a

significant

amount

of

judgment,

there

is

a

degree

of

subjectivity

inherent

in

such

pricing

decisions. Fair

value

prices

determined

by

the

Valuation

Designee could

differ

from

those

of

other

market

participants,

and

it

is

possible

that

the

fair

value

determined

for

a

security

may

be

materially

different

from

the

value

that

could

be

realized

upon

the

sale

of

that

security.

T.

ROWE

PRICE

Global

Growth

Stock

Fund

16

Valuation

Inputs

  The

following

table

summarizes

the

fund’s

financial

instruments,

based

on

the

inputs

used

to

determine

their

fair

values

on

July

31,

2023

(for

further

detail

by

category,

please

refer

to

the

accompanying

Portfolio

of

Investments):

Following

is

a

reconciliation

of

the

fund’s

Level

3

holdings

for

the

period ended

July

31,

2023.

Gain

(loss)

reflects

both

realized

and

change

in

unrealized

gain/loss

on

Level

3

holdings

during

the

period,

if

any.

The

change

in

unrealized

gain/loss

on

Level

3

instruments

held

at

July

31,

2023,

totaled $(13,030,000) for

the

period ended

July

31,

2023.

($000s)

Level

1

Level

2

Level

3

Total

Value

Assets

Common

Stocks

$

659,288‌

$

326,850‌

$

10,242‌

$

996,380‌

Convertible

Preferred

Stocks

—‌

—‌

46,256‌

46,256‌

Limited

Partnerships

1,542‌

—‌

—‌

1,542‌

Preferred

Stocks

—‌

3,504‌

—‌

3,504‌

Short-Term

Investments

1‌

—‌

—‌

1‌

Securities

Lending

Collateral

30,006‌

—‌

—‌

30,006‌

Total

$

690,837‌

$

330,354‌

$

56,498‌

$

1,077,689‌

($000s)

Beginning

Balance

10/31/22

Gain

(Loss)

During

Period

Total

Purchases

Total

Sales

Ending

Balance

7/31/23

Investment

in

Securities

Common

Stocks

$

14,294‌

$

(3,483‌)

$

—‌

$

(569‌)

$

10,242‌

Convertible

Preferred

Stocks

53,757‌

(9,369‌)

2,139‌

(271‌)

46,256‌

Total

$

68,051‌

$

(12,852‌)

$

2,139‌

$

(840‌)

$

56,498‌

T.

ROWE

PRICE

Global

Growth

Stock

Fund

17

In

accordance

with

GAAP,

the

following

table

provides

quantitative

information

about

significant

unobservable

inputs

used

to

determine

the

fair

valuations

of

the

fund’s

Level

3

assets,

by

class

of

financial

instrument.

Because

the

Valuation

Designee considers

a

wide

variety

of

factors

and

inputs,

both

observable

and

unobservable,

in

determining

fair

values,

the

unobservable

inputs

presented

do

not

reflect

all

inputs

significant

to

the

fair

value

determination.

Investments

in

Securities

Value

(000s)

Valuation

Technique(s)+

Significant

Unobservable

Input(s)

Value

or

Range

of

Input(s)

Weighted

Average

of

Input(s)*

Impact

to

Valuation

from

an

Increase

in

Input**

Common

Stock

$

10,242‌

Recent

comparable

transaction

price(s)

—#

—#

—#

—#

Market

comparable

Enterprise

value

to

sales

multiple

6.0x

–

14.8x

10.5x

Increase

Sales

growth

rate

23%

–

35%

29%

Increase

Enterprise

value

to

gross

profit

multiple

9.5x

–

18.6x

13.9x

Increase

Gross

profit

growth

rate

19%

–

37%

28%

Increase

Projected

enterprise

value

to

sales

multiple

8.8x

–

14.8x

10.9x

Increase

Projected

enterprise

value

to

gross

profit

multiple

11.0x

–

18.9x

13.8x

Increase

Premium

to

public

company

multiples

94%

–

149%

122%

Increase

Discount

to

public

company

multiples

4%

–

7%

6%

Decrease

T.

ROWE

PRICE

Global

Growth

Stock

Fund

18

Investments

in

Securities

Value

(000s)

Valuation

Technique(s)+

Significant

Unobservable

Input(s)

Value

or

Range

of

Input(s)

Weighted

Average

of

Input(s)*

Impact

to

Valuation

from

an

Increase

in

Input**

Discount

for

uncertainty

100%

100%

Decrease

Discount

for

lack

of

marketability

10%

10%

Decrease

Convertible

Preferred

Stocks

$

46,256‌

Recent

comparable

transaction

price(s)

—#

—#

—#

—#

Market

comparable

Enterprise

value

to

gross

profit

multiple

9.5x

–

18.6x

9.7x

Increase

Gross

profit

growth

rate

24%

–

51%

36%

Increase

Enterprise

value

to

sales

multiple

1.4x

–

14.8

3.8x

Increase

Sales

growth

rate

18%

–

90%

32%

Increase

Enterprise

value

to

gross

merchandise

value

0.5x

0.5x

Increase

Gross

merchandise

value

growth

rate

28%

28%

Increase

Projected

enterprise

value

to

sales

multiple

2.3x

–

22.6x

7.6x

Increase

Projected

enterprise

value

to

gross

profit

multiple

11.0x

–

30.5x

17.7x

Increase

T.

ROWE

PRICE

Global

Growth

Stock

Fund

19

+

Valuation

techniques

may

change

in

order

to

reflect the

Valuation

Designee’s

judgment

of

current

market

participant

assumptions. 

*

Unobservable

inputs

were

weighted

by

the

relative

fair

value

of

the

instruments.

**

Represents

the

directional

change

in

the

fair

value

of

the

Level

3

investment(s)

that

would

have

resulted

from

an

increase

in

the

corresponding

input

at

period

end.

A

decrease

in

the

unobservable

input

would

have

had

the

opposite

effect.

Significant

increases

and

decreases

in

these

inputs

in

isolation

could

result

in

significantly

higher

or

lower

fair

value

measurements.

#

No

quantitative

unobservable

inputs

significant

to

the

valuation

technique

were

created

by

the

Valuation

Designee.

Investments

in

Securities

Value

(000s)

Valuation

Technique(s)+

Significant

Unobservable

Input(s)

Value

or

Range

of

Input(s)

Weighted

Average

of

Input(s)*

Impact

to

Valuation

from

an

Increase

in

Input**

Projected

enterprise

value

to

EBITDA

multiple

10.5x

10.5x

Increase

Projected

enterprise

value

to

EBIT

multiple

14.7x

–

26.9x

20.8x

Increase

EBIT

growth

rate

22%

22%

Increase

Premium

to

public

company

multiples

2%

–

149%

35%

Increase

Discount

to

public

company

multiples

58%

–

70%

64%

Decrease

Discount

rate

for

cost

of

capital

20%

–

25%

21%

Decrease

Discount

for

uncertainty

100%

100%

Decrease

Discount

for

lack

of

marketability

10%

10%

Decrease

T.

ROWE

PRICE

Global

Growth

Stock

Fund

20

OTHER

MATTERS 

Unpredictable

events

such

as

environmental

or

natural

disasters,

war,

terrorism,

pandemics,

outbreaks

of

infectious

diseases,

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.

Since

2020,

a

novel

strain

of

coronavirus

(COVID-19)

has

resulted

in

disruptions

to

global

business

activity

and

caused

significant

volatility

and

declines

in

global

financial

markets.

In

February

2022,

Russian

forces

entered

Ukraine

and

commenced

an

armed

conflict

leading

to

economic

sanctions

being

imposed

on

Russia

and

certain

of

its

citizens,

creating

impacts

on

Russian-related

stocks

and

debt

and

greater

volatility

in

global

markets.

In

March

2023,

the

collapse

of

some

US

regional

and

global

banks

as

well

as

overall

concerns

around

the

soundness

and

stability

of

the

global

banking

sector

has

sparked

concerns

of

a

broader

financial

crisis

impacting

the

overall

global

banking

sector.

In

certain

cases,

government

agencies

have

assumed

control

or

otherwise

intervened

in

the

operations

of

certain

banks

due

to

liquidity

and

solvency

concerns.

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.

F174-054Q3

07/23