0001752724-19-177104.txt : 20191125 0001752724-19-177104.hdr.sgml : 20191125 20191125130207 ACCESSION NUMBER: 0001752724-19-177104 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20190930 FILED AS OF DATE: 20191125 PERIOD START: 20191231 FILER: COMPANY DATA: COMPANY CONFORMED NAME: T. Rowe Price Spectrum Fund, Inc. CENTRAL INDEX KEY: 0000808303 IRS NUMBER: 000000000 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-04998 FILM NUMBER: 191245015 BUSINESS ADDRESS: STREET 1: 100 EAST PRATT STREET CITY: BALTIMORE STATE: MD ZIP: 21202 BUSINESS PHONE: 410-345-2000 MAIL ADDRESS: STREET 1: 100 EAST PRATT STREET CITY: BALTIMORE STATE: MD ZIP: 21202 FORMER COMPANY: FORMER CONFORMED NAME: PRICE T ROWE SPECTRUM FUND INC DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: PRICE T ROWE OMNI TRUST DATE OF NAME CHANGE: 19870726 0000808303 S000002122 Spectrum Income Fund C000005512 Spectrum Income Fund RPSIX NPORT-P 1 primary_doc.xml NPORT-P false 0000808303 XXXXXXXX S000002122 C000005512 T. ROWE PRICE SPECTRUM FUND, INC. 811-04998 0000808303 549300C4CNSW3NCPIM75 100 East Pratt Street Baltimore 21202 410-345-2000 Spectrum Income Fund S000002122 549300STXWSR8ZCP7B25 2019-12-31 2019-09-30 N 6803442077.00 21559588.16 6781882488.84 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 N T ROWE PRICE US TREASURY LONG-TERM FUND 81MQEQSHGI5PN6BWN277 T ROWE PRICE US TREASURY LONG-TERM FUND 77957T206 17636425.23744400 NS USD 253082702.16000000 3.731747086099 Long EC RF US N 1 N N N T ROWE PRICE HIGH YIELD FUND INC 2F9VPFCSWR3EU5WBPH73 T ROWE PRICE HIGH YIELD FUND INC 741481105 154268216.43321200 NS USD 1021255592.79000000 15.05858579045 Long EC RF US N 1 N N N T ROWE PRICE NEW INCOME FUND INC 5F373D85WF2X2XQOCV26 T ROWE PRICE NEW INCOME FUND INC 779570100 122511137.89143400 NS USD 1192033371.68000000 17.57673291510 Long EC RF US N 1 N N N T ROWE PRICE EMERGING MARKETS LOCAL CURRENCY BOND FUND 308254AVG0WE2QK20V13 T ROWE PRICE EMERGING MARKETS LOCAL CURRENCY BOND FUND 77956H674 54122878.35019700 NS USD 337185532.12000000 4.971857484627 Long EC RF US N 1 N N N T ROWE PRICE SHORT-TERM BOND FUND INC 549300YTML4H25P65J89 T ROWE PRICE SHORT-TERM BOND FUND INC 77957P105 80585439.32589300 NS USD 381169128.01000000 5.620403016968 Long EC RF US N 1 N N N T ROWE PRICE CORPORATE INCOME FUND INC W3XKRQESCCQU5BB2H051 T ROWE PRICE CORPORATE INCOME FUND INC 741478101 29900240.59098600 NS USD 297507393.88000000 4.386796650776 Long EC RF US N 1 N N N T Rowe Price International Bond Fund - USD Hedged 549300A3CV9FBEEC1242 T Rowe Price International Bond Fund - USD Hedged 77956H211 46300626.86044900 NS USD 472266393.98000000 6.963647552978 Long EC RF US N 1 N N N T ROWE PRICE INFLATION PROTECTED BOND FUND INC QTPF0SBNUVQ114GUHO71 T ROWE PRICE INFLATION PROTECTED BOND FUND INC 77958D101 2812937.49228300 NS USD 34233449.28000000 0.504777977741 Long EC RF US N 1 N N N T ROWE PRICE US TREASURY MONEY FUND INC 5493009ZDCM2JOJCUS84 T ROWE PRICE US TREASURY MONEY FUND INC 77957T305 6409436.20000000 NS USD 6409436.20000000 0.094508216716 Long STIV RF US N 1 N N N T ROWE PRICE EQUITY INCOME FUND 2XSW8WBY0J04JDHGEM36 T ROWE PRICE EQUITY INCOME FUND 779547108 25773638.42639300 NS USD 818570756.42000000 12.06996372713 Long EC RF US N 1 N N N T Rowe Price Dynamic Global Bond Fund 549300RBL73KV0WZZF27 T Rowe Price Dynamic Global Bond Fund 77956H575 28561181.64631800 NS USD 260763588.43000000 3.845003048329 Long EC RF US N 1 N N N T ROWE PRICE FLOATING RATE FUND 55EVHYN9ZAYVXIDNQB12 T ROWE PRICE FLOATING RATE FUND 87279B106 28613948.77069400 NS USD 276983024.10000000 4.084161360150 Long EC RF US N 1 N N N T ROWE PRICE LIMITED DURATION INFLATION FOCUSED BOND FUND FLEHC3SRPQOO4TMXE569 T ROWE PRICE LIMITED DURATION INFLATION FOCUSED BOND FUND 872798103 20035822.49745300 NS USD 100579828.94000000 1.483066524751 Long EC RF US N 1 N N N T ROWE PRICE GNMA FUND JNJSU5UUMBJ4UKRO2C43 T ROWE PRICE GNMA FUND 779549104 65401146.28989800 NS USD 602998568.79000000 8.891315498053 Long EC RF US N 1 N N N T ROWE PRICE EMERGING MARKETS BOND FUND 515326IHLDOILEO6ED43 T ROWE PRICE EMERGING MARKETS BOND FUND 77956H872 47822703.34483700 NS USD 548048180.33000000 8.081062761436 Long EC RF US N 1 N N N T ROWE PRICE INTERNATIONAL BOND FUND C339HPVTHLLM709WSU55 T ROWE PRICE INTERNATIONAL BOND FUND 77956H104 15205836.99293900 NS USD 135788124.35000000 2.002218772935 Long EC RF US N 1 N N N T Rowe Price US Treasury Intermediate Fund PLLLPNEGTDFISEIK5Y26 T Rowe Price US Treasury Intermediate Fund 77957T107 8037582.11835600 NS USD 47903989.43000000 0.706352395648 Long EC RF US N 1 N N N 2019-11-13 T. ROWE PRICE SPECTRUM FUND, INC. Catherine D. Mathews Catherine D. Mathews Treasurer & Vice President XXXX NPORT-EX 2 7044TRPspectrumincomefund.htm trowepricespectrumincomefun1.htm - Generated by SEC Publisher for SEC Filing

T. ROWE PRICE SPECTRUM INCOME FUND
September 30, 2019 (Unaudited)

  $ Value $ Purchase    $ Sales    $ Value 
Portfolio of Investments(1)  12/31/18  Cost  Cost  Shares  9/30/19 
(Cost and value in $000s)           
BOND MUTUAL FUNDS 87.9%           
T. Rowe Price Funds:           
New Income Fund  1,224,434  32,158  136,269  122,735,951  1,194,221 
High Yield Fund  832,253  144,518  16,114  154,841,314  1,025,050 
GNMA Fund  552,079  49,058  14,567  65,492,892  603,844 
Emerging Markets Bond Fund  540,804  24,831  40,997  48,004,235  550,129 
International Bond Fund (USD           
Hedged)  —  455,768  2,061  46,339,823  472,666 
Short-Term Bond Fund  341,725  43,550  9,805  80,736,911  381,886 
Emerging Markets Local Currency           
Bond Fund  325,306  14,820  14,026  54,328,969  338,469 
Corporate Income Fund  361,734  7,991  103,219  29,959,025  298,092 
Floating Rate Fund  318,349  18,674  70,649  28,710,001  277,913 
Dynamic Global Bond Fund  256,501  20,905  6,353  28,612,820  261,235 
U.S. Treasury Long-Term Fund  263,418  4,903  52,323  17,659,665  253,416 
International Bond Fund  489,667  5,045  345,525  15,220,407  135,918 
Limited Duration Inflation Focused           
Bond Fund  97,289  2,792  2,727  20,042,022  100,611 
U.S. Treasury Intermediate Fund  —  47,695  54  8,045,775  47,953 
Inflation Protected Bond Fund  68,775  366  39,543  2,813,864  34,245 
Total Bond Mutual Funds (Cost $5,649,762)        5,975,648 
 
EQUITY MUTUAL FUNDS 12.0%           
T. Rowe Price Funds:           
Equity Income Fund  700,434  63,042  66,303  25,761,750  818,193 
Total Equity Mutual Funds (Cost $519,829)        818,193 

 

The accompanying notes are an integral part of this Portfolio of Investments. 

 

T. ROWE PRICE SPECTRUM INCOME FUND

  $ Value $ Purchase  $ Sales    $ Value 
  12/31/18  Cost  Cost  Shares  9/30/19 
(Cost and value in $000s)           
SHORT-TERM INVESTMENTS 0.1%           
T. Rowe Price Funds:           
U.S. Treasury Money Fund, 1.71%(2)  17,351  253,854  264,785  6,420,309  6,420 
Total Short-Term Investments (Cost $6,420)        6,420 
 
Total Investments in Securities 100.0%         
(Cost $6,176,011)        $  6,800,261 
 
Other Assets Less Liabilities (0.0)%          (58) 
 
Net Assets 100.0%        $  6,800,203 

 

(1) Each underlying Price Fund is an affiliated company; the fund is invested in the
Investor Class of each underlying Price Fund. Additional information about each
underlying Price Fund is available by calling 1-877-495-1138 and at
www.troweprice.com.
(2) Seven-day yield

The accompanying notes are an integral part of this Portfolio of Investments. 

 

T. ROWE PRICE SPECTRUM INCOME FUND

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 September 30, 2019. Net realized gain (loss), investment income, and change in
net unrealized gain/loss reflect all activity for the period then ended.

        Change in Net     
    Net Realized Gain    Unrealized    Investment 
Affiliate    (Loss)    Gain/Loss    Income 
T. Rowe Price Funds:             
Corporate Income Fund  $  (2,640)  $  31,586  $  8,093 
Dynamic Global Bond Fund    (183)    (9,818)    4,639 
Emerging Markets Bond Fund    (3,557)    25,491    22,208 
Emerging Markets Local             
Currency Bond Fund    (2,138)    12,369    14,653 
Equity Income Fund    (2,596)    121,020    13,854 
Floating Rate Fund    (2,795)    11,539    10,483 
GNMA Fund    (846)    17,274    10,954 
High Yield Fund    (401)    64,393    40,118 
Inflation Protected Bond Fund    (716)    4,647    315 
International Bond Fund    26,524    (13,269)    4,984 
International Bond Fund (USD             
Hedged)    10    18,959    3,215 
Limited Duration Inflation             
Focused Bond Fund    (120)    3,257    662 
New Income Fund    (723)    73,898    26,821 
Short-Term Bond Fund    (149)    6,416    7,176 
U.S. Treasury Intermediate Fund    (1)    312    160 
U.S. Treasury Long-Term Fund    5,347    37,418    4,978 
U.S. Treasury Money Fund    —    —    324 
Totals  $  15,016#  $  405,492  $  173,637+ 

 

# Capital gain distributions from mutual funds represented $0 of the net realized gain (loss).
+ Investment income comprised $173,637 of income distributions from underlying Price
Funds.

The accompanying notes are an integral part of this Portfolio of Investments. 

 

T. ROWE PRICE SPECTRUM INCOME FUND
Unaudited
NOTES TO PORTFOLIO OF
INVESTMENTS

T. Rowe Price Spectrum Income 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

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. Each fund’s financial instruments are reported at fair value, which GAAP defines as
the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market
participants at the measurement date. Investments in the underlying Price Funds are valued at their closing net asset
value per share on the day of valuation.

The T. Rowe Price Valuation Committee (the Valuation Committee) is an internal committee that has been delegated
certain responsibilities by the fund’s Board of Directors (the Board) to ensure that financial instruments are appropriately
priced at fair value in accordance with GAAP and the 1940 Act. Subject to oversight by the Board, the Valuation
Committee develops and oversees pricing-related policies and procedures and approves all fair value determinations.
Specifically, the Valuation Committee establishes procedures to value securities; determines pricing techniques, sources,
and persons eligible to effect fair value pricing actions; oversees the selection, services, and performance of pricing vendors;
oversees valuation-related business continuity practices; and provides guidance on internal controls and valuation-related
matters. The Valuation Committee reports to the Board and has representation from legal, portfolio management and
trading, operations, risk management, and the fund’s treasurer.

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

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. On September 30, 2019, all of the investments in underlying Price
Funds were classified as Level 1, based on the inputs used to determine their fair values.