NPORT-EX 2 7030TRP033123.htm T. ROWE PRICE SCIENCE & TECHNOLOGY FUND, INC.
T.
ROWE
PRICE
Science
&
Technology
Fund
March
31,
2023
(Unaudited)
1
Portfolio
of
Investments
‡
Shares
$
Value
(Cost
and
value
in
$000s)
‡
COMMON
STOCKS
91.0%
CONSUMER/RETAIL
0.5%
Consumer
Brands
0.2%
Warby
Parker,
Class
A (1)
1,466,804‌
15,533‌
15,533‌
Consumer
Services
0.3%
Think
&
Learn,
Acquisition
Date:
12/23/20
-
1/15/21,
Cost $11,621
(INR) (1)(2)(3)
7,289‌
17,960‌
17,960‌
Total
Consumer/Retail
33,493‌
FINANCIAL
SERVICES
2.7%
Payments
2.7%
Mastercard,
Class
A 
468,809‌
170,370‌
Total
Financial
Services
170,370‌
HARDWARE
4.7%
Consumer
Electronics
2.3%
Apple 
880,000‌
145,112‌
145,112‌
Enterprise
Hardware
2.4%
Pure
Storage,
Class
A (1)
4,685,510‌
119,528‌
Western
Digital (1)(4)
879,433‌
33,128‌
152,656‌
Total
Hardware
297,768‌
INDUSTRIALS
0.4%
Automobile
Manufacturers
0.1%
Rivian
Automotive,
Class
A (1)(4)
386,969‌
5,990‌
5,990‌
Transportation
Technology
Services
0.3%
Uber
Technologies (1)
507,860‌
16,099‌
16,099‌
Total
Industrials
22,089‌
INTERNET
32.6%
China
Internet
Media/Advertising
1.4%
58.com (1)(3)
8,367,978‌
—‌
Baidu,
ADR (1)
596,396‌
90,008‌
90,008‌
China
Internet
Retail
2.8%
Alibaba
Group
Holding,
ADR (1)
1,312,864‌
134,148‌
T.
ROWE
PRICE
Science
&
Technology
Fund
2
Shares
$
Value
(Cost
and
value
in
$000s)
‡
JD.com,
ADR 
1,011,500‌
44,395‌
178,543‌
China
Internet
Services
0.4%
Tongcheng
Travel
Holdings
(HKD) (1)
11,078,400‌
24,115‌
24,115‌
Rest
of
World
Internet
Media/Advertising
0.2%
VK,
GDR (1)
7,023,708‌
11,800‌
11,800‌
Rest
of
World
Internet
Retail
5.3%
Auto1
Group
(EUR) (1)(4)
3,978,755‌
28,229‌
Coupang,
Class
A (1)
1,548,070‌
24,769‌
D-MARKET
Elektronik
Hizmetler
ve
Ticaret,
ADR (1)
2,818,553‌
3,777‌
MercadoLibre (1)
13,691‌
18,046‌
Zalando
(EUR) (1)
6,221,807‌
260,759‌
335,580‌
Rest
of
World
Internet
Services
1.9%
Deliveroo
(GBP) (1)
24,852,435‌
28,153‌
Delivery
Hero
(EUR) (1)
2,174,279‌
74,175‌
Naspers,
N
Shares
(ZAR) 
96,953‌
17,965‌
120,293‌
U.S.
Internet
Media/Advertising
11.2%
Alphabet,
Class
A (1)
4,441,500‌
460,717‌
Meta
Platforms,
Class
A (1)
891,044‌
188,848‌
Pinterest,
Class
A (1)
2,157,235‌
58,828‌
708,393‌
U.S.
Internet
Retail
6.5%
Amazon.com (1)
3,227,580‌
333,377‌
Etsy (1)
641,127‌
71,376‌
Wayfair,
Class
A (1)(4)
180,073‌
6,184‌
410,937‌
U.S.
Internet
Services
2.9%
Booking
Holdings (1)
50,726‌
134,546‌
DoorDash,
Class
A (1)
640,412‌
40,705‌
Maplebear
DBA
Instacart,
Acquisition
Date:
8/7/20,
Cost $6,582 (1)(2)(3)
142,054‌
5,256‌
Maplebear
DBA
Instacart,
Acquisition
Date:
8/7/20,
Cost $344 (1)
(2)(3)
7,421‌
274‌
180,781‌
Total
Internet
2,060,450‌
T.
ROWE
PRICE
Science
&
Technology
Fund
3
Shares
$
Value
(Cost
and
value
in
$000s)
‡
IT
SERVICES
3.7%
IT
Services
3.7%
Accenture,
Class
A 
812,500‌
232,221‌
Total
IT
Services
232,221‌
MEDIA
&
ENTERTAINMENT
0.7%
Video
Gaming
0.7%
Activision
Blizzard 
91,000‌
7,789‌
Epic
Games,
Acquisition
Date:
6/18/20
-
3/29/21,
Cost $34,498 (1)(2)(3)
53,150‌
36,708‌
Total
Media
&
Entertainment
44,497‌
REAL
ESTATE
0.3%
Real
Estate
0.3%
KE
Holdings,
ADR (1)
839,679‌
15,819‌
Opendoor
Technologies,
Class
A (1)(4)
1,639,095‌
2,885‌
Total
Real
Estate
18,704‌
SEMICONDUCTORS
19.0%
Analog
Semiconductors
3.3%
Texas
Instruments 
1,135,200‌
211,159‌
211,159‌
Memory
2.7%
Micron
Technology 
968,331‌
58,429‌
Samsung
Electronics
(KRW) 
2,331,183‌
115,279‌
173,708‌
Processors
10.2%
Advanced
Micro
Devices (1)
1,917,547‌
187,939‌
Marvell
Technology 
1,267,300‌
54,874‌
NVIDIA 
864,700‌
240,188‌
QUALCOMM 
1,263,117‌
161,148‌
644,149‌
Semiconductor
Capital
Equipment
2.8%
ASML
Holding 
24,800‌
16,882‌
KLA 
119,637‌
47,756‌
Lam
Research 
210,272‌
111,469‌
176,107‌
Total
Semiconductors
1,205,123‌
SOFTWARE
25.3%
Back-Office
Applications
Software
2.0%
Intuit 
145,292‌
64,776‌
Workday,
Class
A (1)
298,756‌
61,705‌
126,481‌
T.
ROWE
PRICE
Science
&
Technology
Fund
4
Shares
$
Value
(Cost
and
value
in
$000s)
‡
Collaboration
and
Productivity
Software
1.3%
TeamViewer
(EUR) (1)
1,781,404‌
30,347‌
Zoom
Video
Communications,
Class
A (1)
735,498‌
54,309‌
84,656‌
Front-Office
Applications
Software
8.0%
Adobe (1)
108,700‌
41,890‌
DocuSign (1)
621,600‌
36,239‌
HubSpot (1)
26,586‌
11,399‌
Qualtrics
International,
Class
A (1)
2,291,133‌
40,851‌
Salesforce (1)
1,900,330‌
379,648‌
510,027‌
Industry-Specific
Software
0.3%
Veeva
Systems,
Class
A (1)
101,885‌
18,725‌
18,725‌
Infrastructure
and
Developer
Tool
Software
10.9%
Microsoft 
2,360,700‌
680,590‌
MongoDB (1)
49,744‌
11,596‌
692,186‌
Security
Software
2.8%
Fortinet (1)
1,997,150‌
132,731‌
Gen
Digital 
2,780,900‌
47,720‌
180,451‌
Total
Software
1,612,526‌
TELECOM
EQUIPMENT
1.1%
Wireline
Equipment
1.1%
Arista
Networks (1)
417,600‌
70,098‌
Total
Telecom
Equipment
70,098‌
Total
Common
Stocks
(Cost
$4,900,013)
5,767,339‌
CONVERTIBLE
PREFERRED
STOCKS
1.4%
CONSUMER/RETAIL
0.2%
Consumer
Services
0.2%
Think
&
Learn,
Series
F,
Acquisition
Date:
12/23/20,
Cost $14,605
(INR) (1)(2)(3)
4,539‌
11,184‌
Total
Consumer/Retail
11,184‌
INDUSTRIALS
0.7%
Transportation
Technology
Services
0.7%
GM
Cruise
Holdings,
Class
F,
Acquisition
Date:
5/7/19,
Cost $21,889 (1)(2)(3)
1,199,400‌
24,384‌
T.
ROWE
PRICE
Science
&
Technology
Fund
5
Shares
$
Value
(Cost
and
value
in
$000s)
‡
Waymo,
Series
A-2,
Acquisition
Date:
5/8/20,
Cost $25,611 (1)(2)
(3)
298,258‌
14,072‌
Waymo,
Series
B-2,
Acquisition
Date:
6/11/21,
Cost $9,877 (1)(2)
(3)
107,687‌
5,080‌
Total
Industrials
43,536‌
INTERNET
0.5%
Rest
of
World
Internet
Services
0.4%
Rappi,
Series
E,
Acquisition
Date:
9/8/20,
Cost $33,355 (1)(2)(3)
558,273‌
20,103‌
Rappi,
Series
F,
Acquisition
Date:
7/8/21,
Cost $10,111 (1)(2)(3)
156,954‌
5,652‌
25,755‌
U.S.
Internet
Services
0.1%
Maplebear
DBA
Instacart,
Series
G,
Acquisition
Date:
7/2/20,
Cost $14,085 (1)(2)(3)
292,877‌
10,837‌
10,837‌
Total
Internet
36,592‌
SOFTWARE
0.0%
Infrastructure
and
Developer
Tool
Software
0.0%
Mesosphere,
Series
D,
Acquisition
Date:
5/4/18,
Cost $22,329 (1)
(2)(3)
2,019,933‌
1,252‌
Total
Software
1,252‌
Total
Convertible
Preferred
Stocks
(Cost
$151,862)
92,564‌
SHORT-TERM
INVESTMENTS
7.2%
Money
Market
Funds
7.2%
T.
Rowe
Price
Treasury
Reserve
Fund,
4.83% (5)(6)
454,234,536‌
454,235‌
Total
Short-Term
Investments
(Cost
$454,235)
454,235‌
SECURITIES
LENDING
COLLATERAL
0.4%
INVESTMENTS
IN
A
POOLED
ACCOUNT
THROUGH
SECURITIES
LENDING
PROGRAM
WITH
JPMORGAN
CHASE
BANK
0.4%
Money
Market
Funds
0.4%
T.
Rowe
Price
Government
Reserve
Fund,
4.82% (5)(6)
24,625,528‌
24,626‌
Total
Investments
in
a
Pooled
Account
through
Securities
Lending
Program
with
JPMorgan
Chase
Bank
24,626‌
T.
ROWE
PRICE
Science
&
Technology
Fund
6
Shares
$
Value
(Cost
and
value
in
$000s)
‡
INVESTMENTS
IN
A
POOLED
ACCOUNT
THROUGH
SECURITIES
LENDING
PROGRAM
WITH
STATE
STREET
BANK
AND
TRUST
COMPANY
0.0%
Money
Market
Funds
0.0%
T.
Rowe
Price
Government
Reserve
Fund,
4.82% (5)(6)
3,466,401‌
3,466‌
Total
Investments
in
a
Pooled
Account
through
Securities
Lending
Program
with
State
Street
Bank
and
Trust
Company
3,466‌
Total
Securities
Lending
Collateral
(Cost
$28,092)
28,092‌
Total
Investments
in
Securities
100.0%
(Cost
$5,534,202)
$
6,342,230‌
Other
Assets
Less
Liabilities
(0.0)%
(1,941‌)
Net
Assets
100.0%
$
6,340,289‌
‡
Shares
are
denominated
in
U.S.
dollars
unless
otherwise
noted.
(1)
Non-income
producing
(2)
Security
cannot
be
offered
for
public
resale
without
first
being
registered
under
the
Securities
Act
of
1933
and
related
rules
("restricted
security").
Acquisition
date
represents
the
day
on
which
an
enforceable
right
to
acquire
such
security
is
obtained
and
is
presented
along
with
related
cost
in
the
security
description.
The
fund
may
have
registration
rights
for
certain
restricted
securities.
Any
costs
related
to
such
registration
are
generally
borne
by
the
issuer.
The
aggregate
value
of
restricted
securities
(excluding
144A
holdings)
at
period
end
amounts
to
$152,762
and
represents
2.4%
of
net
assets.
(3)
Level
3
in
fair
value
hierarchy.
(4)
All
or
a
portion
of
this
security
is
on
loan
at
March
31,
2023.
(5)
Seven-day
yield
(6)
Affiliated
Companies
ADR
American
Depositary
Receipts
EUR
Euro
GBP
British
Pound
GDR
Global
Depositary
Receipts
HKD
Hong
Kong
Dollar
INR
Indian
Rupee
KRW
South
Korean
Won
ZAR
South
African
Rand
T.
ROWE
PRICE
Science
&
Technology
Fund
7
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,
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
VK,
GDR 
$
(128,336‌)
$
153,118‌
$
—‌
T.
Rowe
Price
Government
Reserve
Fund,
4.82%
—‌
—‌
—‌++
T.
Rowe
Price
Treasury
Reserve
Fund,
4.83%
—‌
—‌
3,522‌
Totals
$
(128,336‌)#
$
153,118‌
$
3,522‌+
Supplementary
Investment
Schedule
Affiliate
Value
12/31/22
Purchase
Cost
Sales
Cost
Value
03/31/23
VK,
GDR 
$
1‌
$
—‌
$
141,319‌
$
*
T.
Rowe
Price
Government
Reserve
Fund,
4.82%
27,343‌
 ¤
 ¤
28,092‌
T.
Rowe
Price
Treasury
Reserve
Fund,
4.83%
208,339‌
 ¤
 ¤
454,235‌
Total
$
482,327‌^
#
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
$3,522
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
$482,327.
*
On
the
date
indicated,
issuer
was
held
but
not
considered
an
affiliated
company.
T.
ROWE
PRICE
Science
&
Technology
Fund
Unaudited
Notes
to
Portfolio
of
Investments
8
T.
Rowe
Price
Science
&
Technology
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
Science
&
Technology
Fund
9
Level
3
–
unobservable
inputs
(including
the Valuation
Designee’s assumptions
in
determining
fair
value)
Observable
inputs
are
developed
using
market
data,
such
as
publicly
available
information
about
actual
events
or
transactions,
and
reflect
the
assumptions
that
market
participants
would
use
to
price
the
financial
instrument.
Unobservable
inputs
are
those
for
which
market
data
are
not
available
and
are
developed
using
the
best
information
available
about
the
assumptions
that
market
participants
would
use
to
price
the
financial
instrument.
GAAP
requires
valuation
techniques
to
maximize
the
use
of
relevant
observable
inputs
and
minimize
the
use
of
unobservable
inputs.
When
multiple
inputs
are
used
to
derive
fair
value,
the
financial
instrument
is
assigned
to
the
level
within
the
fair
value
hierarchy
based
on
the
lowest-level
input
that
is
significant
to
the
fair
value
of
the
financial
instrument.
Input
levels
are
not
necessarily
an
indication
of
the
risk
or
liquidity
associated
with
financial
instruments
at
that
level
but
rather
the
degree
of
judgment
used
in
determining
those
values.
Valuation
Techniques 
Equity
securities,
including
exchange-traded
funds, listed
or
regularly
traded
on
a
securities
exchange
or
in
the
over-the-counter
(OTC)
market
are
valued
at
the
last
quoted
sale
price
or,
for
certain
markets,
the
official
closing
price
at
the
time
the
valuations
are
made.
OTC
Bulletin
Board
securities
are
valued
at
the
mean
of
the
closing
bid
and
asked
prices.
A
security
that
is
listed
or
traded
on
more
than
one
exchange
is
valued
at
the
quotation
on
the
exchange
determined
to
be
the
primary
market
for
such
security.
Listed
securities
not
traded
on
a
particular
day
are
valued
at
the
mean
of
the
closing
bid
and
asked
prices
for
domestic
securities
and
the
last
quoted
sale
or
closing
price
for
international
securities.
The
last
quoted
prices
of
non-U.S.
equity
securities
may
be
adjusted
to
reflect
the
fair
value
of
such
securities
at
the
close
of
the
NYSE,
if
the Valuation
Designee
determines
that
developments
between
the
close
of
a
foreign
market
and
the
close
of
the
NYSE
will
affect
the
value
of
some
or
all
of its portfolio
securities.
Each
business
day,
the
Valuation
Designee uses
information
from
outside
pricing
services
to
evaluate
the
quoted
prices
of
portfolio
securities
and,
if
appropriate,
decide whether
it
is
necessary
to
adjust
quoted
prices
to
reflect
fair
value
by
reviewing
a
variety
of
factors,
including
developments
in
foreign
markets,
the
performance
of
U.S.
securities
markets,
and
the
performance
of
instruments
trading
in
U.S.
markets
that
represent
foreign
securities
and
baskets
of
foreign
securities. The Valuation
Designee
uses
outside
pricing
services
to
provide
it
with
quoted
prices
and
information
to
evaluate
or
adjust
those
prices.
The Valuation
Designee
cannot
predict
how
often
it
will
use
quoted
prices
and
how
often
it
will
determine
it
necessary
to
adjust
those
prices
to
reflect
fair
value.
T.
ROWE
PRICE
Science
&
Technology
Fund
10
Investments
denominated
in
foreign
currencies
are
translated
into
U.S.
dollar
values
each
day
at
the
prevailing
exchange
rate,
using
the
mean
of
the
bid
and
asked
prices
of
such
currencies
against
U.S.
dollars
as
provided
by
an
outside
pricing
service.
Investments
in
mutual
funds
are
valued
at
the
mutual
fund’s
closing
NAV
per
share
on
the
day
of
valuation.
Investments
for
which
market
quotations are
not
readily
available
or
deemed
unreliable
are
valued
at
fair
value
as
determined
in
good
faith
by
the
Valuation
Designee.
The
Valuation
Designee
has
adopted
methodologies
for
determining
the
fair
value
of
investments
for
which
market
quotations
are
not
readily
available
or
deemed
unreliable,
including
the
use
of
other
pricing
sources.
Factors
used
in
determining
fair
value
vary
by
type
of
investment
and
may
include
market
or
investment
specific
considerations.
The
Valuation
Designee typically
will
afford
greatest
weight
to
actual
prices
in
arm’s
length
transactions,
to
the
extent
they
represent
orderly
transactions
between
market
participants,
transaction
information
can
be
reliably
obtained,
and
prices
are
deemed
representative
of
fair
value.
However,
the
Valuation
Designee may
also
consider
other
valuation
methods
such
as
market-based
valuation
multiples;
a
discount
or
premium
from
market
value
of
a
similar,
freely
traded
security
of
the
same
issuer;
discounted
cash
flows;
yield
to
maturity;
or
some
combination.
Fair
value
determinations
are
reviewed
on
a
regular
basis.
Because
any
fair
value
determination
involves
a
significant
amount
of
judgment,
there
is
a
degree
of
subjectivity
inherent
in
such
pricing
decisions. Fair
value
prices
determined
by
the
Valuation
Designee could
differ
from
those
of
other
market
participants,
and
it
is
possible
that
the
fair
value
determined
for
a
security
may
be
materially
different
from
the
value
that
could
be
realized
upon
the
sale
of
that
security.
Valuation
Inputs
  The
following
table
summarizes
the
fund’s
financial
instruments,
based
on
the
inputs
used
to
determine
their
fair
values
on
March
31,
2023
(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
$
5,116,319‌
$
590,822‌
$
60,198‌
$
5,767,339‌
Convertible
Preferred
Stocks
—‌
—‌
92,564‌
92,564‌
Short-Term
Investments
454,235‌
—‌
—‌
454,235‌
Securities
Lending
Collateral
28,092‌
—‌
—‌
28,092‌
Total
$
5,598,646‌
$
590,822‌
$
152,762‌
$
6,342,230‌
T.
ROWE
PRICE
Science
&
Technology
Fund
11
Following
is
a
reconciliation
of
the
fund’s
Level
3
holdings
for
the
period ended
March
31,
2023.
Gain
(loss)
reflects
both
realized
and
change
in
unrealized
gain/loss
on
Level
3
holdings
during
the
period,
if
any.
The
change
in
unrealized
gain/loss
on
Level
3
instruments
held
at
March
31,
2023,
totaled $(702,000) for
the
period ended
March
31,
2023.
During
the
period,
transfers
out
of
Level
3
were
because
observable
market
data
became
available
for
the
security.
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
($000s)
Beginning
Balance
12/31/22
Gain
(Loss)
During
Period
Total
Sales
Transfer
Out
of
Level
3
Ending
Balance
3/31/23
Investment
in
Securities
Common
Stocks
$
61,276‌
$
747‌
$
(1,824‌)
$
(1‌)
$
60,198‌
Convertible
Preferred
Stocks
94,491‌
(1,927‌)
—‌
—‌
92,564‌
Total
$
155,767‌
$
(1,180‌)
$
(1,824‌)
$
(1‌)
$
152,762‌
T.
ROWE
PRICE
Science
&
Technology
Fund
12
certain
cases,
government
agencies
have
assumed
control
or
otherwise
intervened
in
the
operations
of
certain
banks
due
to
liquidity
and
solvency
concerns.
The
extent
of
impact
of
these
events
on
the
US
and
global
markets
is
highly
uncertain.
These
are
recent
examples
of
global
events
which
may
have
a
negative
impact
on
the
values
of
certain
portfolio
holdings
or
the
fund’s
overall
performance.
Management
is
actively
monitoring
the
risks
and
financial
impacts
arising
from
these
events.
F61-054Q1
03/23