NPORT-EX 2 7004TRP033124.htm T. ROWE PRICE GROWTH STOCK FUND, INC.
T.
ROWE
PRICE
Growth
Stock
Fund
March
31,
2024
(Unaudited)
1
Portfolio
of
Investments
‡
Shares
$
Value
(Cost
and
value
in
$000s)
‡
COMMON
STOCKS
97.1%
COMMUNICATION
SERVICES
14.7%
Entertainment
2.0%
Netflix (1)
1,067,265‌
648,182‌
Spotify
Technology (1)
1,293,844‌
341,446‌
989,628‌
Interactive
Media
&
Services
12.1%
Alphabet,
Class
A (1)
19,890,244‌
3,002,034‌
Alphabet,
Class
C (1)
3,178,111‌
483,899‌
Meta
Platforms,
Class
A 
4,798,214‌
2,329,917‌
Pinterest,
Class
A (1)
6,782,145‌
235,137‌
6,050,987‌
Wireless
Telecommunication
Services
0.6%
T-Mobile
U.S. 
1,992,343‌
325,190‌
325,190‌
Total
Communication
Services
7,365,805‌
CONSUMER
DISCRETIONARY
12.7%
Automobiles
1.3%
Ferrari 
572,589‌
249,614‌
Rivian
Automotive,
Class
A (1)(2)
17,781,733‌
194,710‌
Tesla (1)
1,226,360‌
215,582‌
659,906‌
Broadline
Retail
8.6%
Amazon.com (1)
21,969,781‌
3,962,909‌
Coupang (1)
19,745,192‌
351,267‌
4,314,176‌
Diversified
Consumer
Services
0.0%
Think
&
Learn,
Acquisition
Date:
12/23/20
-
1/15/21,
Cost $44,697
(INR) (1)(3)(4)
28,035‌
—‌
—‌
Hotels,
Restaurants
&
Leisure
1.7%
Booking
Holdings 
50,425‌
182,936‌
Chipotle
Mexican
Grill (1)
137,588‌
399,936‌
Las
Vegas
Sands 
5,121,483‌
264,781‌
847,653‌
Specialty
Retail
0.6%
Floor
&
Decor
Holdings,
Class
A (1)
1,046,897‌
135,699‌
Ross
Stores 
1,115,590‌
163,724‌
299,423‌
T.
ROWE
PRICE
Growth
Stock
Fund
2
Shares
$
Value
(Cost
and
value
in
$000s)
‡
Textiles,
Apparel
&
Luxury
Goods
0.5%
NIKE,
Class
B 
2,780,514‌
261,313‌
261,313‌
Total
Consumer
Discretionary
6,382,471‌
CONSUMER
STAPLES
1.1%
Consumer
Staples
Distribution
&
Retail
1.1%
Dollar
General 
2,973,315‌
464,016‌
Maplebear (1)
2,103,436‌
78,437‌
Total
Consumer
Staples
542,453‌
ENERGY
0.8%
Energy
Equipment
&
Services
0.8%
Schlumberger 
7,398,115‌
405,491‌
Total
Energy
405,491‌
FINANCIALS
7.8%
Capital
Markets
0.6%
Charles
Schwab 
4,487,149‌
324,600‌
324,600‌
Financial
Services
6.6%
ANT
Group,
Acquisition
Date:
8/14/23,
Cost $63,838 (1)(3)(4)
63,838,454‌
64,387‌
Fiserv (1)
3,613,682‌
577,539‌
Mastercard,
Class
A 
2,445,033‌
1,177,455‌
Stripe,
Class
B,
Acquisition
Date:
12/17/19,
Cost $23,373 (1)(3)(4)
1,489,660‌
38,731‌
Visa,
Class
A 
5,219,873‌
1,456,762‌
3,314,874‌
Insurance
0.6%
Chubb 
1,128,572‌
292,447‌
292,447‌
Total
Financials
3,931,921‌
HEALTH
CARE
11.7%
Biotechnology
1.4%
Argenx,
ADR (1)(2)
598,418‌
235,609‌
Legend
Biotech,
ADR (1)(2)
2,420,741‌
135,779‌
Vertex
Pharmaceuticals (1)
764,443‌
319,545‌
690,933‌
Health
Care
Equipment
&
Supplies
1.9%
Intuitive
Surgical (1)(2)
1,848,172‌
737,587‌
Stryker 
600,004‌
214,723‌
952,310‌
Health
Care
Providers
&
Services
3.4%
Cigna
Group 
1,505,809‌
546,895‌
T.
ROWE
PRICE
Growth
Stock
Fund
3
Shares
$
Value
(Cost
and
value
in
$000s)
‡
UnitedHealth
Group 
2,342,188‌
1,158,680‌
1,705,575‌
Life
Sciences
Tools
&
Services
1.3%
Danaher 
1,251,361‌
312,490‌
Thermo
Fisher
Scientific 
583,801‌
339,311‌
651,801‌
Pharmaceuticals
3.7%
Eli
Lilly 
2,129,881‌
1,656,962‌
Zoetis 
1,182,378‌
200,070‌
1,857,032‌
Total
Health
Care
5,857,651‌
INDUSTRIALS
&
BUSINESS
SERVICES
3.6%
Aerospace
&
Defense
0.5%
Airbus
(EUR) 
1,295,762‌
238,717‌
238,717‌
Commercial
Services
&
Supplies
0.3%
Cintas 
225,880‌
155,186‌
155,186‌
Ground
Transportation
1.5%
Old
Dominion
Freight
Line 
1,331,080‌
291,919‌
Uber
Technologies (1)
5,828,928‌
448,769‌
740,688‌
Industrial
Conglomerates
0.7%
Roper
Technologies 
589,576‌
330,658‌
330,658‌
Professional
Services
0.6%
Dayforce (1)
1,900,992‌
125,865‌
TransUnion 
2,293,899‌
183,053‌
308,918‌
Total
Industrials
&
Business
Services
1,774,167‌
INFORMATION
TECHNOLOGY
43.8%
Communications
Equipment
0.0%
Magic
Leap,
Class
A,
Acquisition
Date:
1/20/16
-
10/12/17,
Cost $106,868 (1)(3)(4)
219,911‌
1,056‌
1,056‌
Electronic
Equipment,
Instruments
&
Components
0.9%
Amphenol,
Class
A 
45,295‌
5,225‌
Teledyne
Technologies (1)
1,056,243‌
453,466‌
458,691‌
IT
Services
1.1%
T.
ROWE
PRICE
Growth
Stock
Fund
4
Shares
$
Value
(Cost
and
value
in
$000s)
‡
Accenture,
Class
A 
283,267‌
98,183‌
MongoDB (1)
215,907‌
77,433‌
Shopify,
Class
A (1)
4,928,235‌
380,312‌
555,928‌
Semiconductors
&
Semiconductor
Equipment
12.7%
Advanced
Micro
Devices (1)
2,259,475‌
407,813‌
ASML
Holding 
700,572‌
679,884‌
Intel 
4,901,540‌
216,501‌
Lam
Research 
345,632‌
335,806‌
NVIDIA 
5,085,349‌
4,594,918‌
Taiwan
Semiconductor
Manufacturing
(TWD) 
6,011,000‌
146,314‌
6,381,236‌
Software
21.5%
Adobe (1)
1,101,563‌
555,849‌
Atlassian,
Class
A (1)
1,981,131‌
386,538‌
Aurora
Innovation (1)(2)
18,136,239‌
51,144‌
Autodesk (1)
1,429,613‌
372,300‌
Canva,
Acquisition
Date:
12/17/21
-
12/22/21,
Cost $60,709 (1)
(3)(4)
35,624‌
37,999‌
Celonis,
Acquisition
Date:
6/17/21,
Cost $30,297 (1)(3)(4)
81,931‌
18,277‌
Dynatrace (1)
3,802,294‌
176,579‌
Epic
Games,
Acquisition
Date:
6/18/20
-
3/29/21,
Cost $163,800 (1)(3)(4)
252,548‌
152,337‌
Fortinet (1)
5,469,245‌
373,604‌
Intuit 
995,568‌
647,119‌
Microsoft 
15,310,314‌
6,441,355‌
Salesforce 
2,065,359‌
622,045‌
ServiceNow (1)
984,003‌
750,204‌
Synopsys (1)
401,885‌
229,677‌
10,815,027‌
Technology
Hardware,
Storage
&
Peripherals
7.6%
Apple 
22,355,045‌
3,833,443‌
3,833,443‌
Total
Information
Technology
22,045,381‌
MATERIALS
0.5%
Chemicals
0.5%
Linde 
535,439‌
248,615‌
Total
Materials
248,615‌
Total
Miscellaneous
Common
Stocks
 0.4% (5)
178,435‌
Total
Common
Stocks
(Cost
$18,012,436)
48,732,390‌
T.
ROWE
PRICE
Growth
Stock
Fund
5
Shares
$
Value
(Cost
and
value
in
$000s)
‡
CONVERTIBLE
PREFERRED
STOCKS
2.0%
COMMUNICATION
SERVICES
1.0%
Interactive
Media
&
Services
1.0%
ByteDance,
Series
E,
Acquisition
Date:
7/8/19,
Cost $107,809 (1)
(3)(4)
2,187,317‌
522,244‌
Total
Communication
Services
522,244‌
CONSUMER
DISCRETIONARY
0.0%
Diversified
Consumer
Services
0.0%
Think
&
Learn,
Series
F,
Acquisition
Date:
12/23/20
-
4/29/21,
Cost $125,207
(INR) (1)(3)(4)
38,994‌
—‌
Total
Consumer
Discretionary
—‌
INFORMATION
TECHNOLOGY
0.7%
Software
0.7%
Canva,
Series
A,
Acquisition
Date:
12/17/21,
Cost $2,399 (1)(3)(4)
1,408‌
1,502‌
Canva,
Series
A-3,
Acquisition
Date:
12/17/21,
Cost $995 (1)(3)(4)
584‌
623‌
Canva,
Series
A-4,
Acquisition
Date:
12/17/21,
Cost $99 (1)(3)(4)
58‌
62‌
Celonis,
Series
D,
Acquisition
Date:
6/17/21
-
10/4/22,
Cost $90,023 (1)(3)(4)
243,443‌
54,307‌
Databricks,
Series
I,
Acquisition
Date:
9/14/23,
Cost $113,591 (1)
(3)(4)
1,545,458‌
113,591‌
Formagrid,
Series
F,
Acquisition
Date:
12/8/21,
Cost $77,826 (1)
(3)(4)
415,548‌
19,971‌
GM
Cruise
Holdings,
Class
F,
Acquisition
Date:
5/7/19,
Cost $84,045 (1)(3)(4)
4,605,200‌
26,895‌
GM
Cruise
Holdings,
Class
G,
Acquisition
Date:
1/21/21,
Cost $69,011 (1)(3)(4)
2,619,004‌
15,295‌
Nuro,
Series
C,
Acquisition
Date:
10/30/20
-
3/2/21,
Cost $90,269 (1)(3)(4)
6,914,757‌
28,281‌
Nuro,
Series
D,
Acquisition
Date:
10/29/21,
Cost $33,950 (1)(3)(4)
1,628,640‌
6,661‌
Rappi,
Series
E,
Acquisition
Date:
9/8/20
-
9/24/20,
Cost $79,903 (1)(3)(4)
1,337,376‌
30,385‌
Waymo,
Series
A-2,
Acquisition
Date:
5/8/20,
Cost $55,003 (1)(3)
(4)
640,558‌
39,523‌
Total
Information
Technology
337,096‌
MATERIALS
0.3%
Chemicals
0.3%
Redwood
Materials,
Series
C,
Acquisition
Date:
5/28/21,
Cost $72,936 (1)(3)(4)
1,538,629‌
73,448‌
Redwood
Materials,
Series
D,
Acquisition
Date:
6/17/22
-
6/2/23,
Cost $50,290 (1)(3)(4)
1,065,590‌
50,867‌
T.
ROWE
PRICE
Growth
Stock
Fund
6
Shares
$
Value
(Cost
and
value
in
$000s)
‡
Sila
Nano,
Series
F,
Acquisition
Date:
1/7/21,
Cost $54,505 (1)(3)
(4)
1,320,595‌
26,781‌
Total
Materials
151,096‌
Total
Convertible
Preferred
Stocks
(Cost
$1,107,861)
1,010,436‌
PREFERRED
STOCKS
1.0%
CONSUMER
DISCRETIONARY
0.4%
Automobiles
0.4%
Dr.
Ing.
h.c.
F.
Porsche
(EUR) 
2,013,916‌
200,300‌
Total
Consumer
Discretionary
200,300‌
HEALTH
CARE
0.6%
Life
Sciences
Tools
&
Services
0.6%
Sartorius
(EUR) 
711,027‌
282,356‌
Total
Health
Care
282,356‌
Total
Preferred
Stocks
(Cost
$432,074)
482,656‌
SHORT-TERM
INVESTMENTS
0.0%
Money
Market
Funds
0.0%
T.
Rowe
Price
Government
Reserve
Fund,
5.39% (6)(7)
22,064,685‌
22,065‌
Total
Short-Term
Investments
(Cost
$22,065)
22,065‌
SECURITIES
LENDING
COLLATERAL
0.5%
INVESTMENTS
IN
A
POOLED
ACCOUNT
THROUGH
SECURITIES
LENDING
PROGRAM
WITH
STATE
STREET
BANK
AND
TRUST
COMPANY
0.5%
Money
Market
Funds
0.5%
T.
Rowe
Price
Government
Reserve
Fund,
5.39% (6)(7)
238,456,600‌
238,457‌
Total
Investments
in
a
Pooled
Account
through
Securities
Lending
Program
with
State
Street
Bank
and
Trust
Company
238,457‌
Total
Securities
Lending
Collateral
(Cost
$238,457)
238,457‌
Total
Investments
in
Securities
100.6%
(Cost
$19,812,893)
$
50,486,004‌
Other
Assets
Less
Liabilities
(0.6)%
(281,029‌)
Net
Assets
100.0%
$
50,204,975‌
‡
Shares
are
denominated
in
U.S.
dollars
unless
otherwise
noted.
(1)
Non-income
producing
(2)
All
or
a
portion
of
this
security
is
on
loan
at
March
31,
2024.
(3)
Level
3
in
fair
value
hierarchy.
T.
ROWE
PRICE
Growth
Stock
Fund
7
.
.
.
.
.
.
.
.
.
.
(4)
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
$1,323,223
and
represents
2.6%
of
net
assets.
(5)
The
identity
of
certain
securities
has
been
concealed
to
protect
the
fund
while
it
completes
a
purchase
or
selling
program
for
the
securities.
(6)
Seven-day
yield
(7)
Affiliated
Companies
ADR
American
Depositary
Receipts
EUR
Euro
INR
Indian
Rupee
TWD
Taiwan
Dollar
T.
ROWE
PRICE
Growth
Stock
Fund
8
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
March
31,
2024.
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,
5.39%
$
—‌
$
—‌
$
663‌++
Totals
$
—‌#
$
—‌
$
663‌+
Supplementary
Investment
Schedule
Affiliate
Value
12/31/23
Purchase
Cost
Sales
Cost
Value
03/31/24
T.
Rowe
Price
Government
Reserve
Fund,
5.39%
$
966,961‌
 ¤
 ¤
$
260,522‌
Total
$
260,522‌^
#
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
$663
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
$260,522.
T.
ROWE
PRICE
Growth
Stock
Fund
Unaudited
Notes
to
the
Portfolio
of
Investments
9
T.
Rowe
Price
Growth
Stock
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)
Level
3
–
unobservable
inputs
(including
the Valuation
Designee’s assumptions
in
determining
fair
value)
T.
ROWE
PRICE
Growth
Stock
Fund
10
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.
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.
T.
ROWE
PRICE
Growth
Stock
Fund
11
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.
Valuation
Inputs
  The
following
table
summarizes
the
fund’s
financial
instruments,
based
on
the
inputs
used
to
determine
their
fair
values
on
March
31,
2024
(for
further
detail
by
category,
please
refer
to
the
accompanying
Portfolio
of
Investments):
($000s)
Level
1
Level
2
Level
3
Total
Value
Assets
Common
Stocks
$
48,034,572‌
$
385,031‌
$
312,787‌
$
48,732,390‌
Convertible
Preferred
Stocks
—‌
—‌
1,010,436‌
1,010,436‌
Preferred
Stocks
—‌
482,656‌
—‌
482,656‌
Short-Term
Investments
22,065‌
—‌
—‌
22,065‌
Securities
Lending
Collateral
238,457‌
—‌
—‌
238,457‌
Total
$
48,295,094‌
$
867,687‌
$
1,323,223‌
$
50,486,004‌
T.
ROWE
PRICE
Growth
Stock
Fund
12
Following
is
a
reconciliation
of
the
fund’s
Level
3
holdings
for
the
period ended
March
31,
2024.
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
March
31,
2024,
totaled $18,844,000 for
the
period ended
March
31,
2024.
OTHER
MATTERS 
Unpredictable
events
such
as
environmental
or
natural
disasters,
war
and
conflict,
terrorism,
geopolitical
events,
and
public
health
epidemics and
similar
public
health
threats
may
significantly
affect
the
economy
and
the
markets
and
issuers
in
which
the fund
invests.
Certain
events
may
cause
instability
across
global
markets,
including
reduced
liquidity
and
disruptions
in
trading
markets,
while
some
events
may
affect
certain
geographic
regions,
countries,
sectors,
and
industries
more
significantly
than
others,
and
exacerbate
other
pre-existing
political,
social,
and
economic
risks.
The
global
outbreak
of
COVID-19
and
the
related
governmental
and
public
responses
have
led
and
may
continue
to
lead
to
increased
market
volatility
and
the
potential
for
illiquidity
in
certain
classes
of
securities
and
sectors
of
the
market
either
in
specific
countries
or
worldwide.
In
February
2022,
Russian
forces
entered
Ukraine
and
commenced
an
armed
conflict,
leading
to
economic
sanctions imposed
on
Russia
that
target certain
of
its
citizens
and
issuers
and
sectors
of
the
Russian
economy,
creating
impacts
on
Russian-related
stocks
and
debt
and
greater
volatility
in
global
markets.
In
March
2023,
the
banking
industry
experienced
heightened
volatility,
which
sparked
concerns
of
potential
broader
adverse
market
conditions.
The
extent
of
impact
of
these
events
on
the
US
and
global
markets
is
highly
uncertain.
($000s)
Beginning
Balance
12/31/23
Gain
(Loss)
During
Period
Ending
Balance
3/31/24
Investment
in
Securities
Common
Stocks
$
282,421‌
$
30,366‌
$
312,787‌
Convertible
Preferred
Stocks
1,021,958‌
(11,522‌)
1,010,436‌
Total
$
1,304,379‌
$
18,844‌
$
1,323,223‌
T.
ROWE
PRICE
Growth
Stock
Fund
13
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.
F40-054Q1
03/24