T.

ROWE

PRICE

Tax-Free

Short-Intermediate

Fund

May

31,

2023

(Unaudited)

1

Portfolio

of

Investments

‡

Par/Shares

$

Value

(Amounts

in

000s)

‡

MUNICIPAL

SECURITIES

99.6%

ALABAMA

2.0%

Black

Belt

Energy

Gas

Dist.,

VRDN,

4.00%,

6/1/51

(Tender

12/1/31) 

5,000‌

4,957‌

Black

Belt

Energy

Gas

Dist.,

VRDN,

4.00%,

10/1/52

(Tender

12/1/26) 

5,700‌

5,637‌

Black

Belt

Energy

Gas

Dist.,

Series A-1,

VRDN,

4.00%,

12/1/49

(Tender

12/1/25) 

2,500‌

2,486‌

Black

Belt

Energy

Gas

Dist.,

Series B,

VRDN,

4.00%,

10/1/52

(Tender

12/1/26) 

1,615‌

1,597‌

Black

Belt

Energy

Gas

Dist.,

Series D-1,

VRDN,

4.00%,

7/1/52

(Tender

6/1/27) 

4,890‌

4,869‌

Lower

Alabama

Gas

Dist.,

VRDN,

4.00%,

12/1/50

(Tender

12/1/25) 

11,950‌

11,892‌

Southeast

Energy

Auth.,

Series B,

VRDN,

4.00%,

12/1/51

(Tender

12/1/31) 

3,850‌

3,776‌

35,214‌

ALASKA

0.2%

Alaska

HFC,

State

Capital

Project,

Series A,

4.00%,

6/1/26 

1,375‌

1,401‌

Alaska

HFC,

State

Capital

Project,

Series A,

5.00%,

12/1/26 

900‌

951‌

Alaska

HFC,

State

Capital

Project,

Series A,

5.00%,

6/1/27 

750‌

799‌

Alaska

HFC,

State

Capital

Project,

Series A,

5.00%,

12/1/27 

930‌

1,000‌

4,151‌

ARIZONA

0.8%

Chandler

IDA,

Series 2,

VRDN,

5.00%,

9/1/52

(Tender

9/1/27) (1)

3,150‌

3,229‌

Maricopa

County

IDA,

Banner

Health

Group,

Series C,

FRN,

100%

of

MUNIPSA

+

0.57%,

3.98%,

1/1/35

(Tender

10/18/24) 

6,740‌

6,718‌

Phoenix

Civic

Improvement,

Junior

Lien,

Series B,

5.00%,

7/1/24 (1)

1,000‌

1,012‌

Phoenix

Civic

Improvement,

Junior

Lien,

Series B,

5.00%,

7/1/25 (1)

1,250‌

1,277‌

Salt

River

Agricultural

Improvement

&

Power

Dist.,

Series A,

5.00%,

1/1/27 

1,500‌

1,604‌

13,840‌

CALIFORNIA

6.3%

California,

GO,

5.00%,

9/1/25 

11,720‌

12,198‌

California,

GO,

5.00%,

9/1/25 

5,775‌

6,010‌

California,

GO,

5.00%,

9/1/26 

11,750‌

12,488‌

California,

GO,

5.00%,

4/1/27 

2,030‌

2,190‌

California,

GO,

5.00%,

8/1/27 

1,050‌

1,116‌

California

HFFA,

Lucile

Salter

Packard

Children's

Hospital,

5.00%,

5/15/25 

1,600‌

1,653‌

California

HFFA,

Lucile

Salter

Packard

Children's

Hospital,

5.00%,

5/15/26 

1,000‌

1,053‌

T.

ROWE

PRICE

Tax-Free

Short-Intermediate

Fund

2

Par/Shares

$

Value

(Amounts

in

000s)

California

HFFA,

Lucile

Salter

Packard

Children's

Hospital,

5.00%,

5/15/27 

275‌

295‌

California

Infrastructure

&

Economic

Dev.

Bank,

Series B,

FRN,

100%

of

MUNIPSA

+

0.70%,

4.11%,

12/1/50

(Tender

6/1/26) 

1,175‌

1,141‌

California

Infrastructure

&

Economic

Dev.

Bank,

Series D,

FRN,

100%

of

MUNIPSA

+

0.35%,

3.76%,

8/1/47

(Tender

8/1/24) 

2,025‌

2,000‌

California

Statewide

CDA,

Kaiser

Permanente

Revenue

Bonds,

Series C-1,

VRDN,

5.00%,

4/1/46

(Tender

11/1/29) 

6,515‌

7,272‌

California

Statewide

CDA,

Methodist

Hosp.

of

Southern

CA,

5.00%,

1/1/24 

600‌

606‌

California

Statewide

CDA,

Methodist

Hosp.

of

Southern

CA,

5.00%,

1/1/25 

1,025‌

1,039‌

California

Statewide

CDA,

Methodist

Hosp.

of

Southern

CA,

5.00%,

1/1/26 

1,125‌

1,151‌

Golden

State

Tobacco

Securitization,

Series A-1,

5.00%,

6/1/25 (2)

4,120‌

4,280‌

Golden

State

Tobacco

Securitization,

Series A-1,

5.00%,

6/1/29

(

Prerefunded

6/1/27) (3)

20,045‌

21,763‌

Golden

State

Tobacco

Securitization,

Asset

Backed,

5.00%,

6/1/40

(

Prerefunded

6/1/25) (3)

5,000‌

5,205‌

Los

Angeles

Dept.

of

Airports,

Series A,

5.00%,

5/15/26 (1)

2,385‌

2,480‌

Los

Angeles

Dept.

of

Airports,

Series A,

5.00%,

5/15/29 (1)

4,000‌

4,305‌

Los

Angeles

Dept.

of

Water

&

Power,

Series E,

5.00%,

7/1/26 

1,000‌

1,063‌

Los

Angeles

Dept.

of

Water

&

Power,

Series E,

5.00%,

7/1/27 

750‌

815‌

Los

Angeles

Wastewater

System

Revenue,

Series C,

5.00%,

6/1/28 

4,000‌

4,433‌

Metropolitan

Water

Dist.

of

Southern

California,

Series A,

5.00%,

10/1/26 

1,300‌

1,392‌

Metropolitan

Water

Dist.

of

Southern

California,

Series A,

5.00%,

10/1/27 

1,000‌

1,096‌

Metropolitan

Water

Dist.

of

Southern

California,

Series A,

5.00%,

10/1/28 

2,500‌

2,805‌

Northern

California

Gas

Auth.

No.

1,

Series B,

FRN,

67%

of

3M

USD

LIBOR

+

0.72%,

4.188%,

7/1/27 

3,145‌

3,111‌

Port

of

Oakland,

Series H,

5.00%,

5/1/24 (1)(2)

225‌

228‌

Sacramento

Municipal

Utility

Dist.,

Series J,

5.00%,

8/15/25 

750‌

782‌

Sacramento

Municipal

Utility

Dist.,

Series J,

5.00%,

8/15/26 

2,700‌

2,878‌

Sacramento

Municipal

Utility

Dist.,

Series J,

5.00%,

8/15/27 

830‌

905‌

107,753‌

COLORADO

3.3%

Colorado,

Series A,

COP,

5.00%,

12/15/27 

3,000‌

3,256‌

Colorado,

Series A,

COP,

5.00%,

12/15/28 

9,205‌

10,165‌

Colorado

HFA,

Christian

Living

Neighborhoods,

5.00%,

1/1/24 

630‌

628‌

Colorado

HFA,

Christian

Living

Neighborhoods,

5.00%,

1/1/25 

600‌

594‌

Colorado

HFA,

Christian

Living

Neighborhoods,

5.00%,

1/1/26 

550‌

541‌

Colorado

HFA,

Commonspirit

Health,

Series B-2,

VRDN,

5.00%,

8/1/49

(Tender

8/1/26) 

1,385‌

1,425‌

T.

ROWE

PRICE

Tax-Free

Short-Intermediate

Fund

3

Par/Shares

$

Value

(Amounts

in

000s)

Colorado

HFA,

Sanford

Health,

Series A,

5.00%,

11/1/23 

1,600‌

1,610‌

Colorado

HFA,

Sanford

Health,

Series A,

5.00%,

11/1/25 

2,150‌

2,224‌

Colorado

HFA,

Sanford

Health,

Series A,

5.00%,

11/1/27 

2,080‌

2,223‌

Denver

City

&

County

Airport

System

Revenue,

Series 2017A,

5.00%,

11/15/29 (1)

5,660‌

5,970‌

Denver

City

&

County

Airport

System

Revenue,

Series 2017A,

5.00%,

11/15/30 (1)

1,000‌

1,054‌

Denver

City

&

County

Airport

System

Revenue,

Series 2018A,

5.00%,

11/15/29 (1)

5,000‌

5,384‌

Denver

City

&

County

Airport

System

Revenue,

Series 2022A,

5.00%,

11/15/30 (1)

5,000‌

5,430‌

Denver

City

&

County

Airport

System

Revenue,

Series A,

5.00%,

12/1/29 (1)

4,265‌

4,549‌

Denver

City

&

County

Airport

System

Revenue,

Series A,

5.00%,

12/1/31 (1)

2,000‌

2,132‌

Denver

City

&

County

Airport

System

Revenue,

Series B,

4.00%,

11/15/31 

2,970‌

2,970‌

E-470

Public

Toll

Highway,

Series A,

5.00%,

9/1/26 

1,250‌

1,322‌

E-470

Public

Toll

Highway,

Series B,

FRN,

67%

of

SOFR

+

0.35%,

3.74%,

9/1/39

(Tender

9/1/24) 

2,750‌

2,734‌

Regional

Transportation

Dist.

Sales

Tax

Revenue,

Series B,

5.00%,

11/1/33 

2,000‌

2,162‌

56,373‌

CONNECTICUT

1.7%

Connecticut,

Series A,

GO,

5.00%,

4/15/29 

3,000‌

3,217‌

Connecticut,

Series D,

GO,

5.00%,

9/15/26 

1,775‌

1,882‌

Connecticut,

Series D,

GO,

5.00%,

9/15/27 

1,000‌

1,082‌

Connecticut,

Series D,

GO,

5.00%,

9/15/28 

1,000‌

1,102‌

Connecticut,

Series E,

GO,

5.00%,

9/15/26 

1,255‌

1,330‌

Connecticut,

Series F,

GO,

5.00%,

11/15/25 

2,390‌

2,494‌

Connecticut

Housing

Fin.

Auth.,

Series B-1,

2.95%,

11/15/31 

5,510‌

5,119‌

Connecticut

Special

Tax

Revenue,

Special

Tax

Obligation

Bonds,

Series A,

5.00%,

5/1/26 

5,000‌

5,269‌

Connecticut

State

HEFA,

5.00%,

7/1/24 

375‌

375‌

Connecticut

State

HEFA,

Series 2015-A,

VRDN,

0.375%,

7/1/35

(Tender

7/12/24) 

3,475‌

3,341‌

Connecticut

State

HEFA,

Series A,

VRDN,

2.80%,

7/1/48

(Tender

2/10/26) 

2,500‌

2,443‌

Connecticut

State

HEFA,

Series C-2,

VRDN,

2.80%,

7/1/57

(Tender

2/3/26) 

2,425‌

2,372‌

30,026‌

DELAWARE

0.3%

Delaware

Transportation

Auth.,

5.00%,

7/1/24 

5,000‌

5,093‌

Delaware

Transportation

Auth.,

5.00%,

9/1/24 

750‌

765‌

5,858‌

T.

ROWE

PRICE

Tax-Free

Short-Intermediate

Fund

4

Par/Shares

$

Value

(Amounts

in

000s)

DISTRICT

OF

COLUMBIA

2.9%

Dist.

of

Columbia,

Series A,

5.00%,

3/1/26 

5,000‌

5,261‌

Dist.

of

Columbia,

Series C,

5.00%,

12/1/26 

5,250‌

5,611‌

Dist.

of

Columbia,

Series D,

GO,

5.00%,

6/1/26 

3,500‌

3,703‌

District

of

Columbia,

Income

Tax,

Series A,

5.00%,

3/1/26 

3,100‌

3,262‌

Metropolitan

Washington

Airports

Auth.,

5.00%,

10/1/24 (1)

1,400‌

1,421‌

Metropolitan

Washington

Airports

Auth.,

Series 2018A,

5.00%,

10/1/24 (1)

3,975‌

4,034‌

Metropolitan

Washington

Airports

Auth.,

Series 2018A,

5.00%,

10/1/28 (1)

4,300‌

4,566‌

Metropolitan

Washington

Airports

Auth.,

Series 2021A,

5.00%,

10/1/28 (1)

3,000‌

3,186‌

Metropolitan

Washington

Airports

Auth.,

Series A,

5.00%,

10/1/25 (1)

5,000‌

5,140‌

Metropolitan

Washington

Airports

Auth.,

Series A,

5.00%,

10/1/26 (1)

1,500‌

1,507‌

Metropolitan

Washington

Airports

Auth.,

Aviation

Revenue,

Series 2021A,

5.00%,

10/1/26 (1)

4,705‌

4,897‌

Metropolitan

Washington

Airports

Auth.,

Aviation

Revenue,

Series A,

5.00%,

10/1/27 (1)

7,000‌

7,370‌

Metropolitan

Washington

Airports

Auth.,

Aviation

Revenue,

Series B,

5.00%,

10/1/24 

270‌

275‌

50,233‌

FLORIDA

6.4%

Alachua

County

HFA,

Shands

Teaching

Hosp.,

5.00%,

12/1/25 

1,225‌

1,268‌

Alachua

County

HFA,

Shands

Teaching

Hosp.,

5.00%,

12/1/26 

500‌

526‌

Alachua

County

HFA,

Shands

Teaching

Hosp.,

VRDN,

5.00%,

12/1/37

(Tender

12/1/26) 

6,300‌

6,524‌

Brevard

County

HFA,

Health

First,

5.00%,

4/1/26 

220‌

222‌

Broward

County

Airport

System,

5.00%,

10/1/23 (1)

675‌

677‌

Broward

County

Airport

System,

Series A,

5.00%,

10/1/23 (1)

1,250‌

1,254‌

Broward

County

Airport

System,

Series A,

5.00%,

10/1/24 (1)

1,250‌

1,268‌

Broward

County

Airport

System,

Series A,

5.00%,

10/1/25 (1)

2,065‌

2,115‌

Broward

County

Airport

System,

Series B,

5.00%,

10/1/23 (1)

1,375‌

1,380‌

Broward

County

Airport

System,

Series B,

5.00%,

10/1/24 (1)

1,400‌

1,421‌

Broward

County

Airport

System,

Series B,

5.00%,

10/1/25 (1)

1,500‌

1,537‌

Broward

County

Airport

System,

Series C,

5.00%,

10/1/25 (1)

1,235‌

1,265‌

Broward

County

Airport

System,

Series Q-1,

5.00%,

10/1/25 

4,315‌

4,319‌

Capital

Projects

Fin.

Auth.,

Florida

Univ.

Project,

Series A-1,

5.00%,

10/1/24 

550‌

554‌

Capital

Projects

Fin.

Auth.,

Florida

Univ.

Project,

Series A-1,

5.00%,

10/1/25 

500‌

507‌

Central

Florida

Expressway

Auth.,

Senior

Lien,

5.00%,

7/1/23 

740‌

741‌

Central

Florida

Expressway

Auth.,

Senior

Lien,

5.00%,

7/1/24 

250‌

254‌

Duval

County

Public

Schools,

Series A,

COP,

5.00%,

7/1/27 (4)

2,750‌

2,946‌

Florida

DOT,

Turnpike

System,

Series A,

4.00%,

7/1/30 

4,000‌

4,044‌

T.

ROWE

PRICE

Tax-Free

Short-Intermediate

Fund

5

Par/Shares

$

Value

(Amounts

in

000s)

Florida

Lottery

Revenue,

Series 2016A,

5.00%,

7/1/27 

3,696‌

3,887‌

Florida

Lottery

Revenue,

Series 2019A,

5.00%,

7/1/27 

4,745‌

5,142‌

Florida,

Board

of

Ed.,

Capital

Outlay,

Series 2017B,

GO,

5.00%,

6/1/25 

7,340‌

7,611‌

Florida,

Board

of

Ed.,

Capital

Outlay,

Series 2022B,

GO,

5.00%,

6/1/25 

3,000‌

3,111‌

Florida,

Board

of

Ed.,

Capital

Outlay,

Series B,

GO,

5.00%,

6/1/30 

6,180‌

6,678‌

Florida,

Board

of

Ed.,

Capital

Outlay,

Series C,

GO,

5.00%,

6/1/25 

5,610‌

5,721‌

Florida,

Board

of

Ed.,

Capital

Outlay,

Series E,

GO,

5.00%,

6/1/25 

7,425‌

7,699‌

Florida,

Board

of

Ed.,

Capital

Outlay,

Series E,

GO,

5.00%,

6/1/31 

9,065‌

9,380‌

Greater

Orlando

Aviation

Auth.,

Series A,

5.00%,

10/1/23 (1)(2)

2,000‌

2,006‌

Greater

Orlando

Aviation

Auth.,

Unrefunded

Balance,

5.00%,

10/1/23 (1)

1,455‌

1,460‌

Miami-Dade

County

Aviation,

Series A,

5.00%,

10/1/30 (1)

300‌

306‌

Miami-Dade

County

Expressway

Auth.,

Series A,

5.00%,

7/1/24 

1,530‌

1,534‌

Miami-Dade

County

Expressway

Auth.,

Series A,

5.00%,

7/1/30 

2,000‌

2,020‌

Miami-Dade

County

Expressway

Auth.,

Series A,

5.00%,

7/1/31 

2,000‌

2,020‌

Miami-Dade

County

Expressway

Auth.,

Series B,

5.00%,

7/1/25 (5)

4,870‌

4,951‌

Orange

County

HFA,

Series C,

VRDN,

5.00%,

11/15/52

(Tender

11/15/26) 

205‌

218‌

Orange

County

HFA,

Orlando

Health

Obligated

Group,

Series A,

5.00%,

10/1/29 

1,230‌

1,358‌

Orange

County

HFA,

Orlando

Health

Obligated

Group,

Series A,

5.00%,

10/1/30 

1,750‌

1,948‌

Orange

County

HFA,

Unrefunded

Balance,

Series C,

VRDN,

5.00%,

11/15/52

(Tender

11/15/26) 

3,195‌

3,346‌

Orange

County

School

Board,

Series C,

COP,

5.00%,

8/1/28 

1,750‌

1,920‌

Palm

Beach

County

HFA,

Baptist

Health

South

Florida,

5.00%,

8/15/23 

800‌

802‌

Palm

Beach

County

HFA,

Baptist

Health

South

Florida,

5.00%,

8/15/24 

1,010‌

1,028‌

Palm

Beach

County

HFA,

Baptist

Health

South

Florida,

5.00%,

8/15/25 

620‌

638‌

Palm

Beach

County

HFA,

Baptist

Health

South

Florida,

5.00%,

8/15/26 

600‌

628‌

Village

Community

Dev.

Dist.

No.

14,

4.00%,

5/1/27 

2,535‌

2,521‌

110,755‌

GEORGIA

5.4%

Atlanta

Dept.

of

Aviation,

Series B,

5.00%,

7/1/25 (1)

2,635‌

2,691‌

Atlanta

Dept.

of

Aviation,

Series B,

5.00%,

7/1/26 (1)

5,095‌

5,273‌

Atlanta

Dept.

of

Aviation,

Series B,

5.00%,

7/1/28 (1)

6,800‌

7,197‌

Atlanta

Water

&

Wastewater,

5.00%,

11/1/31 

7,585‌

7,844‌

Atlanta

Water

&

Wastewater,

5.00%,

11/1/32 

2,020‌

2,089‌

Burke

County

Dev.

Auth.,

Georgia

Power

Plant

Vogtle

,

VRDN,

2.15%,

10/1/32

(Tender

6/13/24) 

7,775‌

7,569‌

T.

ROWE

PRICE

Tax-Free

Short-Intermediate

Fund

6

Par/Shares

$

Value

(Amounts

in

000s)

Burke

County

Dev.

Auth.,

Georgia

Power

Plant

Vogtle

,

VRDN,

4.25%,

11/1/52 

600‌

600‌

Cobb

County

Kennestone

Hosp.

Auth.,

RAC,

5.00%,

4/1/24 

650‌

656‌

Cobb

County

Kennestone

Hosp.

Auth.,

RAC,

5.00%,

4/1/25 

350‌

358‌

Cobb

County

Kennestone

Hosp.

Auth.,

WellStar

Health,

RAC,

5.00%,

4/1/24 

85‌

85‌

Fulton

County

Dev.

Auth.,

WellStar

Health,

Series A,

RAC,

5.00%,

4/1/24 

500‌

505‌

Fulton

County

Dev.

Auth.,

WellStar

Health,

Series A,

RAC,

5.00%,

4/1/25 

400‌

409‌

Gainesville

&

Hall

County

Hosp.

Auth.,

Northeast

Georgia

Health

System,

Series A,

5.00%,

2/15/25 

245‌

249‌

Gainesville

&

Hall

County

Hosp.

Auth.,

Northeast

Georgia

Health

System,

Series B,

5.00%,

2/15/24 

750‌

758‌

Georgia,

Series C,

GO,

4.00%,

7/1/25 

5,000‌

5,092‌

Georgia

Ports

Auth.,

5.00%,

7/1/26 

750‌

793‌

Georgia

Ports

Auth.,

5.00%,

7/1/27 

1,125‌

1,215‌

Glynn-Brunswick

Memorial

Hosp.

Auth.,

Southeast

Georgia

Health,

RAC,

5.00%,

8/1/24 

4,535‌

4,573‌

Glynn-Brunswick

Memorial

Hosp.

Auth.,

Southeast

Georgia

Health,

RAC,

5.00%,

8/1/25 

4,760‌

4,843‌

Glynn-Brunswick

Memorial

Hosp.

Auth.,

Southeast

Georgia

Health,

RAC,

5.00%,

8/1/27 

1,500‌

1,522‌

LaGrange-Troup

County

Hosp.

Auth.,

WellStar

Health,

RAC,

5.00%,

4/1/25 

500‌

512‌

Main

Street

Natural

Gas,

Series A,

5.00%,

5/15/24 

500‌

502‌

Main

Street

Natural

Gas,

Series A,

VRDN,

4.00%,

7/1/52

(Tender

9/1/27) 

9,385‌

9,342‌

Main

Street

Natural

Gas,

Georgia

Municipal

Gas

Auth.,

Series B,

VRDN,

4.00%,

8/1/49

(Tender

12/2/24) 

10,210‌

10,235‌

Main

Street

Natural

Gas,

Georgia

Municipal

Gas

Auth.,

Series C,

VRDN,

4.00%,

8/1/48

(Tender

12/1/23) 

6,050‌

6,056‌

Main

Street

Natural

Gas,

Georgia

Municipal

Gas

Auth.,

Series C,

VRDN,

4.00%,

3/1/50

(Tender

9/1/26) 

6,865‌

6,839‌

Main

Street

Natural

Gas,

Georgia

Municipal

Gas

Auth.,

Series C,

VRDN,

4.00%,

5/1/52

(Tender

12/1/28) 

2,525‌

2,505‌

Metro

Atlanta

Rapid

Transit

Auth.,

Series A,

5.00%,

7/1/42

(

Prerefunded

7/1/25) (3)

2,000‌

2,076‌

92,388‌

IDAHO

0.4%

Idaho

HFA,

Saint

Luke's

Health,

Series C,

VRDN,

3.92%,

3/1/48 

7,700‌

7,700‌

7,700‌

ILLINOIS

5.1%

Chicago

Midway

Int'l.

Airport,

Series A,

5.00%,

1/1/25 (1)

2,470‌

2,486‌

Chicago

Midway

Int'l.

Airport,

Series B,

5.00%,

1/1/26 

1,000‌

1,001‌

Chicago

O'Hare

Int'l

Airport,

Series C,

5.00%,

1/1/29 

1,565‌

1,631‌

T.

ROWE

PRICE

Tax-Free

Short-Intermediate

Fund

7

Par/Shares

$

Value

(Amounts

in

000s)

Chicago

O'Hare

Int'l.

Airport,

Series A,

5.00%,

1/1/27 (1)

6,000‌

6,074‌

Chicago

O'Hare

Int'l.

Airport,

Series B,

5.00%,

1/1/26 

2,020‌

2,068‌

Chicago

Wastewater,

Series B,

5.00%,

1/1/24 

2,140‌

2,157‌

Chicago

Waterworks,

5.00%,

11/1/23 

3,750‌

3,773‌

Chicago

Waterworks,

5.00%,

11/1/24 

3,850‌

3,925‌

Chicago

Waterworks,

Series A-1,

5.00%,

11/1/23 

1,300‌

1,308‌

Chicago

Waterworks,

Series A-1,

5.00%,

11/1/24 

460‌

469‌

Illinois,

GO,

5.00%,

2/1/25 

1,055‌

1,077‌

Illinois,

GO,

5.00%,

1/1/28 

2,010‌

2,086‌

Illinois,

GO,

5.00%,

2/1/29 

4,520‌

4,765‌

Illinois,

Series A,

GO,

5.00%,

3/1/24 

995‌

1,004‌

Illinois,

Series A,

GO,

5.00%,

10/1/25 

705‌

727‌

Illinois,

Series A,

GO,

5.00%,

11/1/25 

4,130‌

4,263‌

Illinois,

Series A,

GO,

5.00%,

3/1/28 

2,140‌

2,294‌

Illinois,

Series A,

GO,

5.00%,

12/1/28 

5,000‌

5,417‌

Illinois,

Series B,

GO,

5.00%,

3/1/24 

1,325‌

1,337‌

Illinois,

Series B,

GO,

5.00%,

9/1/25 

5,620‌

5,786‌

Illinois,

Series B,

GO,

5.00%,

3/1/26 

1,675‌

1,738‌

Illinois,

Series B,

GO,

5.00%,

5/1/28 

2,200‌

2,365‌

Illinois,

Series C,

GO,

5.00%,

11/1/29 

2,500‌

2,659‌

Illinois,

Series D,

GO,

5.00%,

11/1/27 

4,920‌

5,248‌

Illinois

Fin.

Auth.,

Series B-1,

VRDN,

5.00%,

8/15/52

(Tender

8/15/25) 

3,000‌

3,080‌

Illinois

Fin.

Auth.,

Healthcare

System,

Series B-1,

VRDN,

5.00%,

5/15/50

(Tender

11/15/24) 

4,925‌

4,966‌

Illinois

Fin.

Auth.,

Healthcare

System,

Series B-2,

VRDN,

5.00%,

5/15/50

(Tender

11/15/26) 

8,680‌

8,981‌

Illinois

Fin.

Auth.,

Northshore

Univ.

Health,

5.00%,

8/15/24 

1,000‌

1,016‌

Illinois

Fin.

Auth.,

Northshore

Univ.

Health,

5.00%,

8/15/25 

1,250‌

1,295‌

Railsplitter

Tobacco

Settlement

Auth.,

5.00%,

6/1/25 

1,140‌

1,172‌

Railsplitter

Tobacco

Settlement

Auth.,

5.00%,

6/1/26 

1,320‌

1,380‌

87,548‌

INDIANA

0.1%

Indiana

Fin.

Auth.,

Methodist

Hosp.,

Series A,

5.00%,

9/15/23 

815‌

817‌

Indiana

Fin.

Auth.,

Methodist

Hosp.,

Series A,

5.00%,

9/15/24 

845‌

854‌

1,671‌

IOWA

0.8%

PEFA,

VRDN,

5.00%,

9/1/49

(Tender

9/1/26) 

14,285‌

14,584‌

14,584‌

KENTUCKY

1.5%

Ashland

Medical

Center,

DBA

King's

Daughter,

Series 2019,

5.00%,

2/1/24 

575‌

579‌

Ashland

Medical

Center,

DBA

King's

Daughter,

Series 2019,

5.00%,

2/1/25 

610‌

619‌

T.

ROWE

PRICE

Tax-Free

Short-Intermediate

Fund

8

Par/Shares

$

Value

(Amounts

in

000s)

Ashland

Medical

Center,

DBA

King's

Daughter,

Series 2019,

5.00%,

2/1/26 

550‌

563‌

Kentucky

Economic

DFA,

Owensboro

Medical

Health,

Series A,

5.00%,

6/1/23 

2,000‌

2,000‌

Kentucky

Economic

DFA,

Owensboro

Medical

Health,

Series A,

5.00%,

6/1/24 

1,115‌

1,126‌

Kentucky

Economic

DFA,

Owensboro

Medical

Health,

Series A,

5.00%,

6/1/25 

1,400‌

1,424‌

Kentucky

Economic

DFA,

Owensboro

Medical

Health,

Series A,

5.00%,

6/1/26 

2,510‌

2,577‌

Kentucky

Public

Energy

Auth.,

Series A-1,

VRDN,

4.00%,

8/1/52

(Tender

8/1/30) 

6,150‌

5,987‌

Kentucky

Public

Energy

Auth.,

Series C,

VRDN,

4.00%,

2/1/50

(Tender

2/1/28) 

11,305‌

11,207‌

26,082‌

LOUISIANA

0.5%

Lake

Charles

Harbor

&

Terminal

Dist.,

Big

Lake

Fuels

LLC

Project,

VRDN,

1.00%,

12/1/51

(Tender

12/1/24) (1)

2,775‌

2,613‌

Louisiana

Offshore

Terminal

Auth.,

Loop

Project,

VRDN,

1.65%,

9/1/27

(Tender

12/1/23) 

1,750‌

1,727‌

Louisiana

Stadium

&

Exposition

Dist.,

BAN,

4.00%,

7/3/23 

1,040‌

1,040‌

New

Orleans

Aviation

Board,

Series B,

5.00%,

1/1/24 (1)

225‌

226‌

New

Orleans

Aviation

Board,

Series B,

5.00%,

1/1/25 (1)

250‌

255‌

Saint

John

the

Baptist

Parish,

Marathon

Oil,

Series A-2,

VRDN,

2.10%,

6/1/37

(Tender

7/1/24) 

2,000‌

1,956‌

7,817‌

MARYLAND

6.9%

Anne

Arundel

County,

GO,

5.00%,

4/1/27 

1,895‌

2,038‌

Anne

Arundel

County,

Consolidated

General

Improvement,

GO,

5.00%,

4/1/25 

3,330‌

3,440‌

Anne

Arundel

County,

Consolidated

General

Improvement,

GO,

5.00%,

4/1/27 

3,245‌

3,490‌

Baltimore

City,

Convention

Center

Hotel,

5.00%,

9/1/23 

500‌

499‌

Baltimore

City,

Convention

Center

Hotel,

5.00%,

9/1/24 

1,950‌

1,931‌

Baltimore

City,

Convention

Center

Hotel,

5.00%,

9/1/25 

2,040‌

2,012‌

Baltimore

County,

Series B,

GO,

5.00%,

8/1/27 

5,675‌

5,786‌

Baltimore

County,

Metropolitan

Dist.

80th

Issue,

GO,

5.00%,

3/1/27 

1,415‌

1,519‌

Frederick

County,

Series A,

5.00%,

7/1/24 

1,000‌

1,014‌

Gaithersburg,

Asbury

Maryland

Obligation

Group,

Series B,

5.00%,

1/1/27 

4,865‌

4,868‌

Harford

County,

GO,

5.00%,

10/1/27 

2,500‌

2,718‌

Harford

County,

Series B,

GO,

5.00%,

7/1/26 

2,000‌

2,120‌

Maryland,

GO,

5.00%,

8/1/31 

5,000‌

5,546‌

Maryland,

Series A,

GO,

5.00%,

3/15/26 

5,000‌

5,266‌

Maryland,

Series A,

GO,

5.00%,

3/15/26 

4,155‌

4,376‌

T.

ROWE

PRICE

Tax-Free

Short-Intermediate

Fund

9

Par/Shares

$

Value

(Amounts

in

000s)

Maryland,

Series A,

GO,

5.00%,

8/1/27 

5,000‌

5,416‌

Maryland,

Series B,

GO,

5.00%,

8/1/24 

5,800‌

5,917‌

Maryland

DOT,

4.00%,

11/1/29 

1,235‌

1,250‌

Maryland

DOT,

Series A,

5.00%,

12/1/26 

1,600‌

1,706‌

Maryland

DOT,

Series B,

5.00%,

12/1/28 

2,500‌

2,772‌

Maryland

Economic

Dev.,

Constellation

Energy

Group,

Series B,

VRDN,

4.10%,

10/1/36

(Tender

4/3/28) 

2,725‌

2,762‌

Maryland

Economic

Dev.,

Transportation

Fac.

Project,

Series A,

5.00%,

6/1/23 

370‌

370‌

Maryland

HHEFA,

5.00%,

7/1/24 

400‌

405‌

Maryland

HHEFA,

Adventist

Healthcare,

Series A,

5.25%,

1/1/25 

1,000‌

1,014‌

Maryland

HHEFA,

Adventist

Healthcare,

Series A,

5.50%,

1/1/26 

1,280‌

1,319‌

Maryland

HHEFA,

Adventist

Healthcare,

Series A,

5.50%,

1/1/27 

2,500‌

2,611‌

Maryland

HHEFA,

Meritus

Medical

Center,

5.00%,

7/1/25 

2,000‌

2,037‌

Maryland

HHEFA,

Peninsula

Regional

Health

System,

5.00%,

7/1/23 

350‌

350‌

Maryland

HHEFA,

Peninsula

Regional

Health

System,

5.00%,

7/1/25 

665‌

682‌

Maryland

HHEFA,

Peninsula

Regional

Health

System,

5.00%,

7/1/26 

1,250‌

1,300‌

Maryland

HHEFA,

Univ.

of

Maryland

Medical

System,

Series B-1,

VRDN,

5.00%,

7/1/45

(Tender

7/1/25) 

3,435‌

3,502‌

Maryland

HHEFA,

Univ.

of

Maryland

Medical

System,

Series B-2,

VRDN,

5.00%,

7/1/45

(Tender

7/1/27) 

7,000‌

7,324‌

Maryland

HHEFA,

Western

Maryland

Health,

5.00%,

7/1/24 (2)

795‌

807‌

Maryland

HHEFA,

Western

Maryland

Health,

5.25%,

7/1/26

(

Prerefunded

7/1/24) (3)

1,535‌

1,562‌

Maryland

HHEFA,

Western

Maryland

Health,

5.25%,

7/1/27

(

Prerefunded

7/1/24) (3)

3,000‌

3,053‌

Maryland

Stadium

Auth.,

Baltimore

City

Public

Schools,

5.00%,

5/1/46

(

Prerefunded

5/1/26) (3)

4,000‌

4,217‌

Montgomery

County,

Series C,

GO,

5.00%,

10/1/24 

4,285‌

4,385‌

Montgomery

County,

Consolidated

Public

Improvement,

Series A,

GO,

5.00%,

8/1/25 

7,000‌

7,281‌

Montgomery

County,

Consolidated

Public

Improvement,

Series A,

GO,

5.00%,

8/1/27 

4,810‌

5,210‌

Prince

County

George's,

Consolidated

Public

Improvement,

Series A,

GO,

5.00%,

7/15/26 

1,000‌

1,061‌

Univ.

System

of

Maryland,

Series A,

5.00%,

4/1/26 

3,000‌

3,157‌

Washington

County,

Homewood

Maryland

Obligated

Group,

4.00%,

5/1/24 

635‌

629‌

Washington

County,

Homewood

Maryland

Obligated

Group,

4.00%,

5/1/25 

665‌

650‌

119,372‌

MASSACHUSETTS

1.0%

Massachusetts

Ed.

Fin.

Auth.,

Series J,

5.00%,

7/1/24 (1)

2,000‌

2,018‌

T.

ROWE

PRICE

Tax-Free

Short-Intermediate

Fund

10

Par/Shares

$

Value

(Amounts

in

000s)

Massachusetts

State

College

Building

Auth.,

Series A,

5.00%,

5/1/38

(

Prerefunded

5/1/25) (3)

6,450‌

6,690‌

Massachusetts

State

College

Building

Auth.,

Series D,

5.00%,

5/1/39

(

Prerefunded

5/1/25) (3)

7,575‌

7,856‌

16,564‌

MICHIGAN

2.2%

Detroit

City

School

Dist.,

Series C,

GO,

5.25%,

5/1/25 (6)

3,615‌

3,712‌

Detroit

Downtown

Dev.

Auth.,

Series A,

5.00%,

7/1/24 (4)

975‌

989‌

Great

Lakes

Water

Auth.,

Water

Supply

System,

Series A,

5.00%,

7/1/25 

1,500‌

1,547‌

Great

Lakes

Water

Auth.,

Water

Supply

System,

Series D,

5.00%,

7/1/31 

1,000‌

1,053‌

Great

Lakes

Water

Auth.,

Water

Supply

System,

Senior

Lien,

Series C,

5.00%,

7/1/27 

5,800‌

6,143‌

Michigan

Fin.

Auth.,

Great

Lakes

Water

Auth.,

Senior

Lien,

Series C-3,

5.00%,

7/1/29 (4)

2,500‌

2,535‌

Michigan

Fin.

Auth.,

Henry

Ford

Health

System,

5.00%,

11/15/28 

3,980‌

4,133‌

Michigan

Fin.

Auth.,

Local

Gov't.

Loan

Program,

Series D-2,

5.00%,

7/1/27 (4)

2,850‌

2,894‌

Michigan

Fin.

Auth.,

Local

Gov't.

Loan

Program,

Series D-4,

5.00%,

7/1/29 

1,500‌

1,520‌

Michigan

Hosp.

Fin.

Auth.,

Trinity

Health

Credit

Group,

Series C,

5.00%,

12/1/23 

585‌

589‌

Michigan

Hosp.

Fin.

Auth.,

Trinity

Health

Credit

Group,

Series C,

5.00%,

12/1/24 

995‌

1,019‌

Michigan,

City

of

Detroit,

GO,

5.00%,

4/1/24 

900‌

905‌

Michigan,

City

of

Detroit,

GO,

5.00%,

4/1/25 

860‌

865‌

Wayne

County

Airport

Auth.,

Series A,

5.00%,

12/1/23 

430‌

433‌

Wayne

County

Airport

Auth.,

Series A,

5.00%,

12/1/24 

780‌

796‌

Wayne

County

Airport

Auth.,

Series B,

5.00%,

12/1/23 (1)

2,195‌

2,205‌

Wayne

County

Airport

Auth.,

Series B,

5.00%,

12/1/24 (1)

2,385‌

2,420‌

Wayne

County

Airport

Auth.,

Series B,

5.00%,

12/1/25 (1)

2,405‌

2,469‌

Wayne

County

Airport

Auth.,

Series F,

5.00%,

12/1/31 (1)

1,330‌

1,362‌

Wayne

County

Airport

Auth.,

Series G,

5.00%,

12/1/27 

425‌

441‌

38,030‌

MINNESOTA

1.6%

Minnesota,

Series A,

GO,

5.00%,

8/1/24 

5,000‌

5,100‌

Minnesota,

Series A,

GO,

5.00%,

8/1/26 

5,320‌

5,648‌

Minnesota,

Series D,

GO,

5.00%,

10/1/24 

8,675‌

8,877‌

Minnesota,

Series D,

GO,

5.00%,

8/1/27 

7,875‌

8,186‌

27,811‌

MISSOURI

0.8%

Kansas

City

IDA,

Kansas

City

Int'l.

Airport,

5.00%,

3/1/25 (1)

1,500‌

1,524‌

Kansas

City

IDA,

Kansas

City

Int'l.

Airport,

5.00%,

3/1/25 

1,050‌

1,078‌

T.

ROWE

PRICE

Tax-Free

Short-Intermediate

Fund

11

Par/Shares

$

Value

(Amounts

in

000s)

Missouri

HEFA,

SSM

Health

Care,

Series A,

5.00%,

6/1/26

(

Prerefunded

6/1/24) (3)

1,740‌

1,761‌

Missouri

HEFA,

SSM

Health

Care,

Series C,

VRDN,

5.00%,

5/1/52

(Tender

5/1/28) 

8,000‌

8,604‌

Saint

Louis

Airport,

Series B,

5.00%,

7/1/23 (1)(4)

215‌

215‌

Saint

Louis

Airport,

Series B,

5.00%,

7/1/24 (1)(4)

840‌

850‌

Saint

Louis

Airport,

Series B,

5.00%,

7/1/25 (1)(4)

375‌

383‌

14,415‌

NEBRASKA

0.1%

Central

Plains

Energy,

4.00%,

8/1/25 

1,550‌

1,554‌

1,554‌

NEVADA

0.4%

Clark

County

Dept.

of

Aviation,

Airport

Improvement,

Series B,

5.00%,

7/1/26 (1)

3,000‌

3,105‌

Clark

County

School

Dist.,

Series A,

GO,

3.00%,

6/15/23 (4)

450‌

450‌

Clark

County

School

Dist.,

Series A,

GO,

3.00%,

6/15/25 (4)

650‌

645‌

Clark

County

School

Dist.,

Series A,

GO,

5.00%,

6/15/26 (4)

500‌

527‌

Nevada

Housing

Division,

VRDN,

5.00%,

12/1/25

(Tender

12/1/24) 

1,800‌

1,821‌

6,548‌

NEW

JERSEY

3.6%

New

Jersey

Economic

Dev.

Auth.,

Series SSS,

5.00%,

6/15/26 

2,000‌

2,036‌

New

Jersey

Economic

Dev.

Auth.,

Transit

Transportation

Project,

Series A,

5.00%,

11/1/29 

5,065‌

5,555‌

New

Jersey

HCFFA,

AHS

Hosp.,

5.00%,

7/1/25 

1,405‌

1,419‌

New

Jersey

HCFFA,

AHS

Hosp.,

5.00%,

7/1/25

(

Prerefunded

1/1/24) (3)

95‌

96‌

New

Jersey

Transportation

Trust

Fund

Auth.,

Series A,

5.00%,

6/15/24 

3,085‌

3,132‌

New

Jersey

Transportation

Trust

Fund

Auth.,

Series A,

5.00%,

6/15/30 

2,210‌

2,308‌

New

Jersey

Transportation

Trust

Fund

Auth.,

Series AA,

5.00%,

6/15/26 (7)

825‌

862‌

New

Jersey

Transportation

Trust

Fund

Auth.,

Series AA,

5.00%,

6/15/27 (7)

1,500‌

1,592‌

New

Jersey

Transportation

Trust

Fund

Auth.,

Series BB,

5.00%,

6/15/32 

3,000‌

3,221‌

New

Jersey

Transportation

Trust

Fund

Auth.,

Transportation

System,

5.00%,

6/15/29 

1,565‌

1,692‌

New

Jersey

Transportation

Trust

Fund

Auth.,

Transportation

System,

Series A,

5.00%,

12/15/24 

1,975‌

2,011‌

New

Jersey

Transportation

Trust

Fund

Auth.,

Transportation

System,

Series A,

5.00%,

12/15/26 

2,525‌

2,659‌

New

Jersey

Transportation

Trust

Fund

Auth.,

Transportation

System,

Series A,

5.00%,

12/15/26 

1,410‌

1,485‌

T.

ROWE

PRICE

Tax-Free

Short-Intermediate

Fund

12

Par/Shares

$

Value

(Amounts

in

000s)

New

Jersey

Transportation

Trust

Fund

Auth.,

Transportation

System,

Series D,

5.00%,

12/15/24 

1,125‌

1,145‌

New

Jersey

Turnpike

Auth.,

Series A,

5.00%,

1/1/27 

590‌

599‌

New

Jersey

Turnpike

Auth.,

Series D,

5.00%,

1/1/28 

5,000‌

5,263‌

New

Jersey,

COVID-19

Emergency

Bonds,

Series A,

GO,

5.00%,

6/1/24 

5,815‌

5,901‌

New

Jersey,

COVID-19

Emergency

Bonds,

Series A,

GO,

5.00%,

6/1/25 

6,505‌

6,715‌

New

Jersey,

COVID-19

Emergency

Bonds,

Series A,

GO,

5.00%,

6/1/27 

6,750‌

7,231‌

Tobacco

Settlement

Fin.,

Series A,

5.00%,

6/1/24 

1,000‌

1,012‌

Tobacco

Settlement

Fin.,

Series A,

5.00%,

6/1/26 

4,055‌

4,237‌

Tobacco

Settlement

Fin.,

Series A,

5.00%,

6/1/28 

1,535‌

1,647‌

61,818‌

NEW

MEXICO

0.5%

Farmington

PCR,

Public

Services

of

New

Mexico,

San

Juan

Project,

Series D,

VRDN,

1.10%,

6/1/40

(Tender

6/1/23) 

2,750‌

2,750‌

New

Mexico

Hosp.

Equipment

Loan

Council,

Series B,

VRDN,

5.00%,

8/1/49

(Tender

8/1/25) 

4,850‌

4,989‌

7,739‌

NEW

YORK

6.3%

Brooklyn

Arena

Local

Dev.,

Barclays

Center,

Series A,

5.00%,

7/15/23 

1,250‌

1,252‌

Brooklyn

Arena

Local

Dev.,

Barclays

Center,

Series A,

5.00%,

7/15/24 

3,000‌

3,035‌

Dormitory

Auth.

of

the

State

of

New

York,

Series A,

4.00%,

10/1/24 (4)

3,260‌

3,290‌

Dormitory

Auth.

of

the

State

of

New

York,

Series A,

5.00%,

10/1/24 

3,050‌

3,117‌

Dormitory

Auth.

of

the

State

of

New

York,

Bidding

Group,

Series C,

5.00%,

3/15/24 (2)

5‌

5‌

Dormitory

Auth.

of

the

State

of

New

York,

Bidding

Group,

Series E,

5.00%,

3/15/28 

5,000‌

5,442‌

Dormitory

Auth.

of

the

State

of

New

York,

Orange

Regional

Medical

Center,

5.00%,

12/1/25 (8)

1,000‌

1,000‌

Dormitory

Auth.

of

the

State

of

New

York,

Orange

Regional

Medical

Center,

5.00%,

12/1/26 (8)

1,300‌

1,305‌

Dormitory

Auth.

of

the

State

of

New

York,

Personal

Income

Tax

General

Purpose

Bond,

Series B,

5.00%,

2/15/28 

7,350‌

7,950‌

Dormitory

Auth.

of

the

State

of

New

York,

Personal

Income

Tax

General

Purpose

Bond,

Series B,

5.00%,

2/15/29 

9,855‌

10,663‌

Dormitory

Auth.

of

the

State

of

New

York,

Sales

Tax,

Series A,

5.00%,

3/15/28 

6,985‌

7,473‌

Long

Island

Power

Auth.,

Series B,

VRDN,

1.50%,

9/1/51

(Tender

9/1/26) 

1,250‌

1,151‌

T.

ROWE

PRICE

Tax-Free

Short-Intermediate

Fund

13

Par/Shares

$

Value

(Amounts

in

000s)

Metropolitan

Transportation

Auth.,

Series E-1,

VRDN,

4.00%,

11/15/50 

2,970‌

2,970‌

New

York

City,

Series 1,

GO,

5.00%,

8/1/25 

5,400‌

5,597‌

New

York

City,

Series C,

GO,

5.00%,

8/1/27 

5,000‌

5,385‌

New

York

City

IDA,

Series A,

5.00%,

1/1/24 (4)

1,250‌

1,259‌

New

York

City

IDA,

Series A,

5.00%,

1/1/25 (4)

2,000‌

2,044‌

New

York

City

IDA,

Yankee

Stadium

Project,

5.00%,

3/1/28 (4)

1,315‌

1,407‌

New

York

City

Transitional

Fin.

Auth.,

Future

Tax

Secured,

Series A-1,

5.00%,

11/1/26 

1,170‌

1,246‌

New

York

City

Transitional

Fin.

Auth.,

Future

Tax

Secured,

Series D,

5.00%,

11/1/27 

4,130‌

4,478‌

New

York

State

Urban

Dev.,

Personal

Income

Tax,

Series A,

5.00%,

3/15/24 

3,275‌

3,318‌

New

York

Transportation

Dev.,

American

Airlines,

5.00%,

8/1/26 (1)

1,655‌

1,657‌

New

York

Transportation

Dev.,

Delta

Air

Lines

LaGuardia

Airport,

5.00%,

1/1/27 (1)

3,500‌

3,596‌

New

York

Transportation

Dev.,

JFK

Int'l.

Airport,

5.00%,

12/1/23 

1,000‌

1,005‌

Port

Auth.

of

New

York

&

New

Jersey,

Series 178,

5.00%,

12/1/25 (1)

5,000‌

5,029‌

Port

Auth.

of

New

York

&

New

Jersey,

Series 185,

5.00%,

9/1/25 (1)

2,000‌

2,032‌

Port

Auth.

of

New

York

&

New

Jersey,

Series 207,

5.00%,

9/15/24 (1)

3,000‌

3,044‌

Port

Auth.

of

New

York

&

New

Jersey,

Series 207,

5.00%,

9/15/26 (1)

10,030‌

10,436‌

Triborough

Bridge

&

Tunnel

Auth.,

Series A,

5.00%,

8/15/24 

2,425‌

2,465‌

Triborough

Bridge

&

Tunnel

Auth.,

Series B,

FRN,

67%

of

SOFR

+

0.38%,

3.77%,

1/1/32

(Tender

2/1/24) 

6,240‌

6,193‌

108,844‌

NORTH

CAROLINA

4.4%

Charlotte-Mecklenburg

Hosp.

Auth.,

VRDN,

5.00%,

1/15/49

(Tender

12/1/31) 

6,565‌

7,383‌

Charlotte-Mecklenburg

Hosp.

Auth.,

VRDN,

5.00%,

1/15/50

(Tender

12/1/28) 

2,500‌

2,723‌

Mecklenburg

County,

GO,

5.00%,

3/1/26 

10,000‌

10,528‌

North

Carolina

Medical

Care

Commission,

4.00%,

3/1/24 

220‌

218‌

North

Carolina

Medical

Care

Commission,

4.00%,

3/1/25 

265‌

260‌

North

Carolina

Medical

Care

Commission,

5.00%,

3/1/26 

490‌

487‌

North

Carolina

Medical

Care

Commission,

5.00%,

3/1/27 

290‌

287‌

North

Carolina

Medical

Care

Commission,

Caromont

Health,

Series B,

VRDN,

5.00%,

2/1/51

(Tender

2/1/26) 

11,050‌

11,530‌

North

Carolina

Medical

Care

Commission,

Retirement

Fac.

First

Meeting,

4.00%,

1/1/25 

250‌

246‌

North

Carolina

Medical

Care

Commission,

Southminster

,

5.00%,

10/1/23 

150‌

150‌

T.

ROWE

PRICE

Tax-Free

Short-Intermediate

Fund

14

Par/Shares

$

Value

(Amounts

in

000s)

North

Carolina

Medical

Care

Commission,

Southminster

,

5.00%,

10/1/24 

180‌

179‌

North

Carolina

Medical

Care

Commission,

Southminster

,

5.00%,

10/1/25 

125‌

124‌

North

Carolina

Medical

Care

Commission,

United

Methodist

Retirement

Home,

Series A,

5.00%,

10/1/23 (2)

400‌

402‌

North

Carolina

Medical

Care

Commission,

United

Methodist

Retirement

Home,

Series A,

5.00%,

10/1/24

(

Prerefunded

10/1/23) (3)

950‌

983‌

North

Carolina

Medical

Care

Commission,

United

Methodist

Retirement

Home,

Series A,

5.00%,

10/1/26

(

Prerefunded

10/1/23) (3)

750‌

776‌

North

Carolina

Medical

Care

Commission,

United

Methodist

Retirement

Home,

Series A,

5.00%,

10/1/27

(

Prerefunded

10/1/23) (3)

175‌

181‌

North

Carolina

Medical

Care

Commission,

Vidant

Health,

5.00%,

6/1/28

(

Prerefunded

6/1/25) (3)

1,575‌

1,632‌

North

Carolina

Medical

Care

Commission,

Wake

Forest

Baptist,

Series B,

5.00%,

12/1/23 

2,000‌

2,002‌

North

Carolina

Medical

Care

Commission,

Wake

Forest

Baptist,

Series B,

5.00%,

12/1/27 

1,125‌

1,128‌

North

Carolina

Turnpike

Auth.,

5.00%,

1/1/24 (4)

1,180‌

1,189‌

North

Carolina

Turnpike

Auth.,

BAN,

5.00%,

2/1/24 (2)

13,455‌

13,596‌

Wake

County,

5.00%,

3/1/27 

2,355‌

2,526‌

Wake

County,

Series A,

5.00%,

12/1/29 

1,150‌

1,226‌

Wake

County,

Series C,

GO,

5.00%,

3/1/25 

15,760‌

16,259‌

76,015‌

OHIO

1.5%

Allen

County

Hosp.

Fac.,

Catholic

Healthcare,

Series C,

VRDN,

3.98%,

6/1/34 

1,000‌

1,000‌

Cleveland

Airport

System,

Series B,

5.00%,

1/1/24 (1)

1,200‌

1,206‌

Columbus,

Series 2,

GO,

5.00%,

8/15/26 

945‌

1,002‌

Columbus,

Series A,

GO,

5.00%,

4/1/25 

3,445‌

3,556‌

Columbus,

Series A,

GO,

5.00%,

8/15/27 

1,000‌

1,082‌

Columbus,

Series B,

GO,

5.00%,

8/15/27 

1,640‌

1,775‌

Columbus,

Series B,

GO,

5.00%,

8/15/28 

2,390‌

2,638‌

Hamilton

County,

Life

Enriching

Community,

5.00%,

1/1/24 

150‌

150‌

Hamilton

County,

Life

Enriching

Community,

5.00%,

1/1/25 

200‌

201‌

Hamilton

County,

Life

Enriching

Community,

5.00%,

1/1/26 

150‌

150‌

Ohio

Higher

Ed.

Fac.

Commission,

Cleveland

Clinic,

Series B-4,

VRDN,

3.97%,

1/1/43 

1,500‌

1,500‌

Ohio

Hosp.

Fac.,

Cleveland

Clinic

Health,

Series C,

VRDN,

2.75%,

1/1/52

(Tender

5/1/28) 

1,500‌

1,453‌

Ohio

Water

Dev.

Auth.

Water

Pollution

Control

Loan

Fund,

Series A,

5.00%,

6/1/26 

7,000‌

7,400‌

T.

ROWE

PRICE

Tax-Free

Short-Intermediate

Fund

15

Par/Shares

$

Value

(Amounts

in

000s)

Ohio

Water

Dev.

Auth.

Water

Pollution

Control

Loan

Fund,

Series A,

5.00%,

6/1/27 

3,000‌

3,238‌

26,351‌

OKLAHOMA

0.2%

Oklahoma

Turnpike

Auth.,

Series A,

5.00%,

1/1/25 

450‌

462‌

Oklahoma

Turnpike

Auth.,

Series D,

5.00%,

1/1/27 

3,310‌

3,523‌

3,985‌

OREGON

1.0%

Multnomah

County

School

Dist.

No.

1,

GO,

5.00%,

6/15/24 

8,250‌

8,397‌

Oregon,

Series A,

GO,

5.00%,

5/1/25 

1,500‌

1,552‌

Oregon,

Series A,

GO,

5.00%,

5/1/26 

1,625‌

1,715‌

Oregon,

Series A,

GO,

5.00%,

5/1/27 

2,000‌

2,155‌

Oregon,

Series D,

GO,

5.00%,

6/1/26 

1,215‌

1,284‌

Oregon,

Series D,

GO,

5.00%,

6/1/27 

2,650‌

2,860‌

17,963‌

PENNSYLVANIA

2.9%

Allentown

Neighborhood

Improvement

Zone

Dev.

Auth.,

5.00%,

5/1/24 

200‌

201‌

Allentown

Neighborhood

Improvement

Zone

Dev.

Auth.,

5.00%,

5/1/25 

500‌

507‌

Allentown

Neighborhood

Improvement

Zone

Dev.

Auth.,

5.00%,

5/1/26 

550‌

562‌

Bucks

County

IDA,

5.00%,

7/1/25 

350‌

348‌

Bucks

County

IDA,

5.00%,

7/1/26 

450‌

447‌

Bucks

County

IDA,

5.00%,

7/1/27 

475‌

471‌

Butler

County

Hosp.

Auth.,

5.00%,

7/1/23 

355‌

355‌

Butler

County

Hosp.

Auth.,

5.00%,

7/1/24 

2,300‌

2,326‌

Butler

County

Hosp.

Auth.,

5.00%,

7/1/25 

705‌

716‌

Butler

County

Hosp.

Auth.,

5.00%,

7/1/26 

460‌

460‌

Butler

County

Hosp.

Auth.,

5.00%,

7/1/27 

585‌

580‌

Commonwealth

Fin.

Auth.,

Tobacco

Settlement,

5.00%,

6/1/24 

2,280‌

2,308‌

Lehigh,

Lehigh

Valley

Health

Network,

5.00%,

7/1/23 

1,300‌

1,301‌

Lehigh,

Lehigh

Valley

Health

Network,

5.00%,

7/1/24 

1,700‌

1,723‌

Northampton

County

General

Purpose

Auth.,

Saint

Luke's

Health

Univ.,

FRN,

70%

of

1M

USD

LIBOR

+

1.04%,

4.564%,

8/15/48

(Tender

8/15/24) 

4,900‌

4,904‌

Pennsylvania,

GO,

5.00%,

9/15/25 (4)

715‌

745‌

Pennsylvania,

GO,

5.00%,

2/1/26 

4,575‌

4,792‌

Philadelphia,

Series A,

GO,

5.00%,

8/1/23 

2,270‌

2,275‌

Philadelphia

Airport,

Series A,

5.00%,

7/1/26 

1,160‌

1,221‌

Philadelphia

Airport,

Series A,

5.00%,

7/1/27 

2,000‌

2,143‌

Philadelphia

Airport,

Series C,

5.00%,

7/1/25 (1)

12,465‌

12,728‌

Philadelphia

Airport,

Series C,

5.00%,

7/1/26 (1)

1,080‌

1,117‌

Philadelphia

Airport,

Series C,

5.00%,

7/1/27 (1)

1,135‌

1,189‌

Philadelphia

HHEFA,

Temple

Univ.

Health

System,

5.00%,

7/1/23 

1,175‌

1,175‌

T.

ROWE

PRICE

Tax-Free

Short-Intermediate

Fund

16

Par/Shares

$

Value

(Amounts

in

000s)

Southeastern

Pennsylvania

Transportation

Auth.,

5.00%,

6/1/25 

2,290‌

2,365‌

State

Public

School

Building

Auth.,

Philadelphia

School

Dist.,

Series A,

5.00%,

6/1/33 (4)

2,500‌

2,616‌

49,575‌

PUERTO

RICO

4.6%

Puerto

Rico

Commonwealth

Aqueduct

&

Sewer

Auth.,

Series A,

5.00%,

7/1/29 (8)

6,800‌

6,914‌

Puerto

Rico

Commonwealth

Aqueduct

&

Sewer

Auth.,

Series A,

5.00%,

7/1/30 (8)

5,000‌

5,074‌

Puerto

Rico

Commonwealth

Aqueduct

&

Sewer

Auth.,

Series B,

5.00%,

7/1/24 (8)

2,075‌

2,094‌

Puerto

Rico

Commonwealth

Aqueduct

&

Sewer

Auth.,

Series B,

5.00%,

7/1/28 (8)

1,250‌

1,274‌

Puerto

Rico

Commonwealth,

Restructured,

Series A-1,

GO,

5.625%,

7/1/27 

17,594‌

18,390‌

Puerto

Rico

Commonwealth,

Restructured,

Series A-1,

GO,

5.625%,

7/1/29 

9,000‌

9,533‌

Puerto

Rico

Commonwealth,

Restructured,

Series A-1,

GO,

5.75%,

7/1/31 

5,581‌

6,009‌

Puerto

Rico

Ind.

Tourist

Ed.

Medical

&

Environmental

Control

Fac.

Fin.

Auth.,

5.00%,

7/1/27 

450‌

470‌

Puerto

Rico

Ind.

Tourist

Ed.

Medical

&

Environmental

Control

Fac.

Fin.

Auth.,

5.00%,

7/1/29 

850‌

912‌

Puerto

Rico

Sales

Tax

Fin.,

Restructured,

Series A-1,

4.50%,

7/1/34 

13,854‌

13,854‌

Puerto

Rico

Sales

Tax

Fin.,

Restructured,

Series A-1,

Zero

Coupon,

7/1/27 

9,628‌

8,094‌

Puerto

Rico

Sales

Tax

Fin.,

Restructured,

Series A-1,

Zero

Coupon,

7/1/31 

9,535‌

6,603‌

79,221‌

RHODE

ISLAND

0.2%

Rhode

Island

Health

&

Ed.

Building,

Care

New

England,

Series B,

5.00%,

9/1/23 

550‌

551‌

Rhode

Island

Health

&

Ed.

Building,

Care

New

England,

Series B,

5.00%,

9/1/24 

1,290‌

1,288‌

Rhode

Island

Health

&

Ed.

Building,

Care

New

England,

Series B,

5.00%,

9/1/25 

415‌

413‌

Rhode

Island

Health

&

Ed.

Building,

Care

New

England,

Series B,

5.00%,

9/1/26 

450‌

445‌

2,697‌

SOUTH

CAROLINA

0.8%

South

Carolina

Jobs

Economic

Dev.

Auth.,

Bon

Secours

Health

System,

VRDN,

5.00%,

12/1/48

(Tender

10/1/25) 

5,160‌

5,296‌

South

Carolina

Jobs-Economic

Dev.

Auth.,

Prisma

Health

Obligated

Group,

Series A,

5.00%,

5/1/30 

1,140‌

1,199‌

South

Carolina

Ports

Auth.,

5.00%,

7/1/24 (1)

850‌

860‌

T.

ROWE

PRICE

Tax-Free

Short-Intermediate

Fund

17

Par/Shares

$

Value

(Amounts

in

000s)

South

Carolina

Ports

Auth.,

5.00%,

7/1/25 (1)

1,190‌

1,217‌

South

Carolina

Ports

Auth.,

5.25%,

7/1/55

(

Prerefunded

7/1/25) (1)(3)

3,240‌

3,339‌

Spartanburg

Regional

Health

Services

Dist.,

5.00%,

4/15/29 

1,700‌

1,837‌

13,748‌

SOUTH

DAKOTA

0.1%

South

Dakota

HEFA,

Sanford

Obligated

Group,

5.00%,

11/1/29 

1,000‌

1,043‌

1,043‌

TENNESSEE

2.7%

Chattanooga

Health

Ed.

&

Housing

Fac.

Board,

Student

Housing

-

CDFI

Phase

I,

CDFI,

5.00%,

10/1/23 

650‌

651‌

Greeneville

Health

&

Ed.

Fac.

Board,

Ballad

Health

Obligated

Group,

5.00%,

7/1/24

(

Prerefunded

7/1/23) (3)

3,025‌

3,028‌

Greeneville

Health

&

Ed.

Fac.

Board,

Ballad

Health

Obligated

Group,

5.00%,

7/1/29 

1,525‌

1,629‌

Greeneville

Health

&

Ed.

Fac.

Board,

Ballad

Health

Obligation

Group,

5.00%,

7/1/25

(

Prerefunded

7/1/23) (3)

1,000‌

1,001‌

Greeneville

Health

&

Ed.

Fac.

Board,

Ballad

Health

Obligation

Group,

5.00%,

7/1/31

(

Prerefunded

7/1/23) (3)

1,760‌

1,762‌

Memphis-Shelby

County

Airport

Auth.,

Series B,

5.00%,

7/1/24 (1)

3,330‌

3,361‌

Metropolitan

Gov't.

of

Nashville

&

Davidson

County,

GO,

5.00%,

7/1/24 

17,760‌

18,097‌

Metropolitan

Gov't.

of

Nashville

&

Davidson

County

Health

&

Ed.

Fac.

Board,

Vanderbilt

Univ.

Medical

Center,

5.00%,

7/1/31 

6,755‌

7,392‌

Metropolitan

Nashville

Airport

Auth.,

Series B,

5.00%,

7/1/25 (1)

515‌

526‌

Metropolitan

Nashville

Airport

Auth.,

Series B,

5.00%,

7/1/26 (1)

1,695‌

1,752‌

Metropolitan

Nashville

Airport

Auth.,

Series B,

5.00%,

7/1/27 (1)

690‌

723‌

Metropolitan

Nashville

Airport

Auth.,

Series B,

5.00%,

7/1/28 (1)

1,000‌

1,059‌

Tennergy

,

Series A,

VRDN,

5.00%,

2/1/50

(Tender

10/1/24) 

5,000‌

5,070‌

Tennessee

Energy

Acquisition,

Goldman

Sachs,

Series C,

5.00%,

2/1/24 

175‌

175‌

46,226‌

TEXAS

10.1%

Austin

Airport

System,

5.00%,

11/15/27 (1)

1,780‌

1,799‌

Austin

Airport

System,

Series A,

5.00%,

11/15/26 

545‌

579‌

Austin

Airport

System,

Series B,

5.00%,

11/15/23 (1)

715‌

717‌

Austin

Airport

System,

Series B,

5.00%,

11/15/29 (1)

1,200‌

1,246‌

Austin

Convention

Enterprises,

First

Tier

Convention

Center,

Series A,

5.00%,

1/1/26 

1,505‌

1,515‌

Austin

Convention

Enterprises,

First

Tier

Convention

Center,

Series A,

5.00%,

1/1/27 

1,655‌

1,676‌

Austin

Water

&

Wastewater

System,

5.00%,

11/15/32 

2,095‌

2,215‌

Central

Texas

Regional

Mobility

Auth.,

5.00%,

1/1/24 

1,025‌

1,031‌

Central

Texas

Regional

Mobility

Auth.,

5.00%,

1/1/25 

1,195‌

1,215‌

Central

Texas

Regional

Mobility

Auth.,

5.00%,

1/1/26 

1,620‌

1,665‌

T.

ROWE

PRICE

Tax-Free

Short-Intermediate

Fund

18

Par/Shares

$

Value

(Amounts

in

000s)

Central

Texas

Regional

Mobility

Auth.,

5.00%,

1/1/28 

1,700‌

1,747‌

Central

Texas

Regional

Mobility

Auth.,

Series A,

5.00%,

1/1/40

(

Prerefunded

7/1/25) (3)

4,490‌

4,656‌

Central

Texas

Regional

Mobility

Auth.,

Series A,

5.00%,

1/1/45

(

Prerefunded

7/1/25) (3)

1,475‌

1,530‌

Central

Texas

Regional

Mobility

Auth.,

Series C,

5.00%,

1/1/27 

15,280‌

15,906‌

Clifton

Higher

Ed.

Fin.,

Int'l.

Leadership,

Series D,

5.00%,

8/15/23 

1,505‌

1,503‌

Clifton

Higher

Ed.

Fin.,

Int'l.

Leadership,

Series D,

5.00%,

8/15/24 

3,120‌

3,103‌

Dallas,

GO,

5.00%,

2/15/25 

5,000‌

5,149‌

Dallas

Hotel

Occupancy

Tax

Revenue,

4.00%,

8/15/27 

2,000‌

2,020‌

Dallas

Hotel

Occupancy

Tax

Revenue,

4.00%,

8/15/28 

2,000‌

2,021‌

Harris

County

Cultural

Ed.

Fac.

Fin.,

Memorial

Hermann

Health

Sys.,

VRDN,

5.00%,

6/1/32

(Tender

12/1/26) 

11,665‌

12,249‌

Harris

County

Cultural

Ed.

Fac.

Fin.,

Memorial

Hermann

Health

Sys.,

VRDN,

5.00%,

7/1/49

(Tender

12/1/24) 

1,880‌

1,913‌

Harris

County

Cultural

Ed.

Fac.

Fin.,

Memorial

Hermann

Health

Sys.,

VRDN,

5.00%,

7/1/49

(Tender

12/1/26) 

1,250‌

1,313‌

Harris

County

Cultural

Ed.

Fac.

Fin.,

Texas

Children's

Hosp.,

5.00%,

10/1/28 

3,110‌

3,242‌

Harris

County

Cultural

Ed.

Fac.

Fin.,

Texas

Children's

Hosp.,

VRDN,

5.00%,

10/1/41

(Tender

10/1/24) 

4,000‌

4,067‌

Harris

County

Cultural

Ed.

Fac.

Fin.,

Thermal

Energy,

5.00%,

11/15/31 

2,305‌

2,484‌

Houston

Airport

System,

Series A,

5.00%,

7/1/23 (1)

825‌

825‌

Houston

Airport

System,

Series A,

5.00%,

7/1/25 (1)

1,250‌

1,276‌

Houston

Airport

System,

Series A,

5.00%,

7/1/26 (1)

1,250‌

1,294‌

Houston

Airport

System

Revenue,

Series A,

5.00%,

7/1/29 (1)

2,130‌

2,279‌

Houston

Combined

Utility

System

Revenue,

Series A,

Zero

Coupon,

12/1/25 (2)(4)

6,000‌

5,531‌

Houston

Independent

School

Dist.,

GO,

5.00%,

2/15/26 

3,010‌

3,158‌

Houston

Independent

School

Dist.,

Permanent

School

Fund,

GO,

5.00%,

2/15/25 

4,660‌

4,795‌

Love

Field

Airport

Modernization,

Southwest

Airlines,

5.00%,

11/1/28 (1)

1,000‌

1,000‌

Lower

Colorado

River

Auth.,

5.00%,

5/15/24 

120‌

122‌

Lower

Colorado

River

Auth.,

Series A,

5.00%,

5/15/24 

1,045‌

1,061‌

Lower

Colorado

River

Auth.,

Series A,

5.00%,

5/15/27 (4)

2,000‌

2,148‌

Lower

Colorado

River

Auth.,

Series A,

5.00%,

5/15/28 (4)

1,500‌

1,640‌

Lower

Colorado

River

Auth.,

Transmission

Services,

5.00%,

5/15/24 

280‌

284‌

Lower

Colorado

River

Auth.,

Transmission

Services,

5.00%,

5/15/25 

1,010‌

1,043‌

North

Texas

Tollway

Auth.,

Series 2016A,

5.00%,

1/1/28 

2,705‌

2,831‌

North

Texas

Tollway

Auth.,

Series A,

5.00%,

1/1/26 

9,710‌

9,787‌

North

Texas

Tollway

Auth.,

Series A,

5.00%,

1/1/28 

460‌

472‌

North

Texas

Tollway

Auth.,

First

Tier,

Series A,

5.00%,

1/1/25 

1,140‌

1,151‌

T.

ROWE

PRICE

Tax-Free

Short-Intermediate

Fund

19

Par/Shares

$

Value

(Amounts

in

000s)

North

Texas

Tollway

Auth.,

First

Tier,

Series A,

5.00%,

1/1/27 

8,430‌

8,500‌

North

Texas

Tollway

Auth.,

Unrefunded

Balance,

Series A,

5.00%,

1/1/24 

1,130‌

1,131‌

Port

Beaumont

Navigation

Dist.,

1.875%,

1/1/26 (1)(8)

500‌

453‌

Tarrant

County

Cultural

Ed.

Fac.

Fin.,

Series E,

VRDN,

5.00%,

11/15/52

(Tender

5/15/26) 

3,200‌

3,321‌

Texas

Municipal

Gas

Acquisition

&

Supply

I,

Series D,

6.25%,

12/15/26 

12,440‌

12,927‌

Texas

Municipal

Gas

Acquisition

&

Supply

I,

Merrill

Lynch,

Senior

Lien,

Series Class A,

5.25%,

12/15/25 

2,500‌

2,554‌

Texas

Municipal

Gas

Acquisition

&

Supply

III,

5.00%,

12/15/23 

2,125‌

2,132‌

Texas

Municipal

Gas

Acquisition

&

Supply

III,

5.00%,

12/15/27 

4,285‌

4,367‌

Texas

Municipal

Gas

Acquisition

&

Supply

III,

5.00%,

12/15/28 

7,750‌

7,963‌

Texas

Municipal

Gas

Acquisition

&

Supply

III,

5.00%,

12/15/29 

6,100‌

6,298‌

Texas

Transportation

Commission,

Mobility

Fund,

Series B,

GO,

5.00%,

10/1/34 

6,150‌

6,658‌

173,562‌

UTAH

1.6%

Intermountain

Power

Agency,

Series A,

5.00%,

7/1/26 

2,000‌

2,118‌

Intermountain

Power

Agency,

Series A,

5.00%,

7/1/27 

2,000‌

2,163‌

Intermountain

Power

Agency,

Series A,

5.00%,

7/1/28 

2,250‌

2,486‌

Salt

Lake

City

Airport,

Series 2017A,

5.00%,

7/1/27 (1)

2,030‌

2,128‌

Salt

Lake

City

Airport,

Series 2021A,

5.00%,

7/1/26 (1)

3,960‌

4,094‌

Salt

Lake

City

Airport,

Series 2021A,

5.00%,

7/1/27 (1)

5,080‌

5,325‌

Salt

Lake

City

Airport,

Series A,

5.00%,

7/1/26 (1)

1,155‌

1,194‌

Univ.

of

Utah,

Green

Bond,

Series B,

5.00%,

8/1/26 

1,450‌

1,535‌

Univ.

of

Utah,

Green

Bond,

Series B,

5.00%,

8/1/27 

1,000‌

1,080‌

Utah

County,

Series B,

VRDN,

5.00%,

5/15/60

(Tender

8/1/26) 

4,050‌

4,252‌

Vineyard

Redev

.

Agency,

5.00%,

5/1/27 (4)

615‌

656‌

27,031‌

VIRGINIA

4.4%

Alexandria,

Series A,

GO,

5.00%,

12/15/25 

4,800‌

5,031‌

Arlington

County

IDA,

Park

Shirlington

Apartments,

Series A,

5.00%,

1/1/26 

2,325‌

2,395‌

Arlington

County

IDA,

Virginia

Hosp.

Center,

5.00%,

7/1/23 

410‌

410‌

Arlington

County

IDA,

Virginia

Hosp.

Center,

5.00%,

7/1/24 

1,600‌

1,621‌

Arlington

County

IDA,

Virginia

Hosp.

Center,

5.00%,

7/1/28 

880‌

947‌

Chesapeake

Expressway

Toll

Road,

Series A,

5.00%,

7/15/23 

105‌

105‌

Fairfax

County

IDA,

Inova

Health

System,

5.00%,

8/15/23 

2,130‌

2,136‌

Fairfax

County

IDA,

Inova

Health

System,

5.00%,

5/15/27 

2,500‌

2,682‌

Fredericksburg

Economic

Dev.

Auth.,

Mary

Washington

Healthcare,

5.00%,

6/15/27 

1,750‌

1,765‌

Greater

Richmond

Convention

Center

Auth.,

5.00%,

6/15/24 

225‌

229‌

Hampton

Roads

Sanitation

Dist.,

Wastewater,

Series A,

5.00%,

8/1/34

(

Prerefunded

8/1/26) (3)

4,335‌

4,601‌

T.

ROWE

PRICE

Tax-Free

Short-Intermediate

Fund

20

Par/Shares

$

Value

(Amounts

in

000s)

Hampton

Roads

Transportation

Accountability

Commission,

Series A,

BAN,

5.00%,

7/1/26 (2)

4,850‌

5,131‌

Louisa

IDA,

Series A,

VRDN,

3.65%,

11/1/35

(Tender

10/1/27) (7)

2,000‌

1,985‌

Virginia

College

Building

Auth.,

4.00%,

2/1/29 

6,065‌

6,287‌

Virginia

College

Building

Auth.,

Series A,

5.00%,

2/1/26 

7,015‌

7,375‌

Virginia

College

Building

Auth.,

Series A,

5.00%,

2/1/27 (7)

5,000‌

5,374‌

Virginia

College

Building

Auth.,

Series A,

5.00%,

2/1/28 (7)

3,000‌

3,282‌

Virginia

Public

Building

Auth.,

Series A-1,

5.00%,

8/1/27 

3,000‌

3,246‌

Virginia

Public

Building

Auth.,

Series B,

5.00%,

8/1/24 

3,000‌

3,060‌

Virginia

Public

Building

Auth.,

Series B,

5.00%,

8/1/25 

1,325‌

1,376‌

Virginia

Public

School

Auth.,

5.00%,

8/1/27 

4,000‌

4,159‌

Virginia

Public

School

Auth.,

Series A,

5.00%,

8/1/25 

4,625‌

4,800‌

Virginia

Public

School

Auth.,

Series A,

5.00%,

8/1/26 

4,845‌

5,129‌

Virginia

Small

Business

Fin.

Auth.,

Senior

Lien,

4.00%,

1/1/30 (1)

3,250‌

3,224‌

76,350‌

WASHINGTON

3.1%

Central

Puget

Sound

Regional

Transit

Auth.,

Series S-1,

5.00%,

11/1/35

(

Prerefunded

11/1/25) (3)

13,250‌

13,828‌

Central

Puget

Sound

Regional

Transit

Auth.,

Green

Bond,

Series S-1,

4.00%,

11/1/33

(

Prerefunded

11/1/25) (3)

2,000‌

2,041‌

Energy

Northwest,

Series A,

5.00%,

7/1/27 

5,120‌

5,422‌

King

County,

Series A,

GO,

5.00%,

12/1/25 

3,605‌

3,771‌

Port

of

Seattle,

Series C,

5.00%,

8/1/28 (1)

3,000‌

3,193‌

Washington,

Series A,

GO,

5.00%,

8/1/27 

5,000‌

5,416‌

Washington,

Series A-1,

GO,

5.00%,

8/1/27 

4,130‌

4,282‌

Washington,

Series R,

GO,

4.00%,

7/1/26 

5,000‌

5,141‌

Washington

Health

Care

Fac.

Auth.,

Commonspirit

Health,

Series B-2,

VRDN,

5.00%,

8/1/49

(Tender

8/1/25) 

2,450‌

2,497‌

Washington

Health

Care

Fac.

Auth.,

Commonspirit

Health,

Series B-3,

VRDN,

5.00%,

8/1/49

(Tender

8/1/26) 

6,900‌

7,100‌

52,691‌

WISCONSIN

0.9%

Wisconsin

Clean

Water

Fund

Leveraged

Loan

Portfolio,

Series 1,

5.00%,

6/1/25

(

Prerefunded

6/1/24) (3)

5,000‌

5,071‌

Wisconsin

HEFA,

Advocate

Aurora

Health

Credit

Group,

Series B-4,

VRDN,

5.00%,

8/15/54

(Tender

1/29/25) 

10,000‌

10,222‌

15,293‌

T.

ROWE

PRICE

Tax-Free

Short-Intermediate

Fund

21

Par/Shares

$

Value

(Amounts

in

000s)

SHORT-TERM

INVESTMENTS

0.0%

MONEY

MARKET

FUNDS

0.0%

T.

Rowe

Price

Government

Reserve

Fund,

5.11% (9)(10)

1‌

1‌

Total

Short-Term

Investments

(Cost

$1)

1‌

Total

Investments

in

Securities

99.6%

(Cost

$1,753,633)

$

1,716,440‌

Other

Assets

Less

Liabilities

0.4%

6,530

Net

Assets

100.0%

$

1,722,970‌

‡

Par/Shares

are

denominated

in

U.S.

dollars

unless

otherwise

noted.

(1)

Interest

subject

to

alternative

minimum

tax.

(2)

Escrowed

to

maturity

(3)

Prerefunded

date

is

used

in

determining

portfolio

maturity.

(4)

Insured

by

Assured

Guaranty

Municipal

Corporation

(5)

Insured

by

Build

America

Mutual

Assurance

Company

(6)

Insured

by

Financial

Guaranty

Insurance

Company

(7)

When-issued

security

(8)

Security

was

purchased

pursuant

to

Rule

144A

under

the

Securities

Act

of

1933

and

may

be

resold

in

transactions

exempt

from

registration

only

to

qualified

institutional

buyers.

Total

value

of

such

securities

at

period-end

amounts

to

$18,114

and

represents

1.1%

of

net

assets.

(9)

Seven-day

yield

(10)

Affiliated

Companies

1M

USD

LIBOR

One

month

USD

LIBOR

(London

interbank

offered

rate)

3M

USD

LIBOR

Three

month

USD

LIBOR

(London

interbank

offered

rate)

BAN

Bond

Anticipation

Note

CDA

Community

Development

Administration/Authority

CDFI

Community

Development

Financial

Institution

COP

Certificate

of

Participation

DFA

Development

Finance

Authority

DOT

Department

of

Transportation

FRN

Floating

Rate

Note

GO

General

Obligation

HCFFA

Health

Care

Facilities

Financing

Authority

HEFA

Health

&

Educational

Facility

Authority

HFA

Health

Facility

Authority

HFC

Housing

Finance

Corporation

HFFA

Health

Facility

Financing

Authority

HHEFA

Health

&

Higher

Educational

Facility

Authority

IDA

Industrial

Development

Authority/Agency

MUNIPSA

Securities

Industry

and

Financial

Markets

Association

(SIFMA)

Municipal

Swap

Index

T.

ROWE

PRICE

Tax-Free

Short-Intermediate

Fund

22

.

.

.

.

.

.

.

.

.

.

PCR

Pollution

Control

Revenue

RAC

Revenue

Anticipation

Certificate

SOFR

Secured

overnight

financing

rate

VRDN

Variable

Rate

Demand

Note

under

which

the

holder

has

the

right

to

sell

the

security

to

the

issuer

or

the

issuer’s

agent

at

a

predetermined

price

on

specified

dates;

such

specified

dates

are

considered

the

effective

maturity

for

purposes

of

the

fund’s

weighted

average

maturity;

rate

shown

is

effective

rate

at

period-end

and

maturity

date

shown

is

final

maturity.

Certain

VRDN

rates

are

not

based

on

a

published

reference

rate

and

spread

but

may

adjust

periodically.

T.

ROWE

PRICE

Tax-Free

Short-Intermediate

Fund

23

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

three

months

ended

May

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,

5.11%

$

—‌#

$

—‌

$

—‌+

Supplementary

Investment

Schedule

Affiliate

Value

02/28/23

Purchase

Cost

Sales

Cost

Value

05/31/23

T.

Rowe

Price

Government

Reserve

Fund,

5.11%

$

1‌

 ¤

 ¤

$

1‌^

#

Capital

gain

distributions

from

underlying

Price

funds

represented

$0

of

the

net

realized

gain

(loss).

+

Investment

income

comprised

$0

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

$1.

T.

ROWE

PRICE

Tax-Free

Short-Intermediate

Fund

Unaudited

Notes

to

Portfolio

of

Investments

24

T.

Rowe

Price

Tax-Free

Short-Intermediate

Fund,

Inc. (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

Tax-Free

Short-Intermediate

Fund

25

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 

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

factors

such

as,

but

not

limited

to,

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.   

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

T.

ROWE

PRICE

Tax-Free

Short-Intermediate

Fund

26

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.

Valuation

Inputs

  The

following

table

summarizes

the

fund’s

financial

instruments,

based

on

the

inputs

used

to

determine

their

fair

values

on

May

31,

2023

(for

further

detail

by

category,

please

refer

to

the

accompanying

Portfolio

of

Investments):

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.

($000s)

Level

1

Level

2

Level

3

Total

Value

Assets

Municipal

Securities

$

—‌

$

1,716,439‌

$

—‌

$

1,716,439‌

Short-Term

Investments

1‌

—‌

—‌

1‌

Total

$

1‌

$

1,716,439‌

$

—‌

$

1,716,440‌

T.

ROWE

PRICE

Tax-Free

Short-Intermediate

Fund

27

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.

F56-054Q1

05/23