T.

ROWE

PRICE

Equity

Index

500

Fund

September

30,

2023

(Unaudited)

1

Portfolio

of

Investments

‡

Shares/Par

$

Value

(Cost

and

value

in

$000s)

‡

COMMON

STOCKS

99.7%

COMMUNICATION

SERVICES

8.9%

Diversified

Telecommunication

Services

0.7%

AT&T 

5,039,733‌

75,697‌

Verizon

Communications 

2,963,690‌

96,053‌

171,750‌

Entertainment

1.3%

Activision

Blizzard 

504,505‌

47,237‌

Electronic

Arts 

173,818‌

20,928‌

Live

Nation

Entertainment (1)(2)

100,083‌

8,311‌

Netflix (1)

312,456‌

117,983‌

Take-Two

Interactive

Software (1)

112,254‌

15,759‌

Walt

Disney (1)

1,288,270‌

104,414‌

Warner

Bros

Discovery (1)

1,560,643‌

16,949‌

331,581‌

Interactive

Media

&

Services

5.9%

Alphabet,

Class

A (1)

4,183,135‌

547,405‌

Alphabet,

Class

C (1)

3,558,358‌

469,169‌

Match

Group (1)

194,719‌

7,628‌

Meta

Platforms,

Class

A (1)

1,567,059‌

470,447‌

1,494,649‌

Media

0.8%

Charter

Communications,

Class

A (1)

71,758‌

31,561‌

Comcast,

Class

A 

2,901,817‌

128,667‌

Fox,

Class

A 

178,984‌

5,584‌

Fox,

Class

B 

92,629‌

2,675‌

Interpublic

Group 

270,438‌

7,751‌

News,

Class

A 

263,759‌

5,291‌

News,

Class

B 

87,400‌

1,824‌

Omnicom

Group 

139,944‌

10,423‌

Paramount

Global,

Class

B 

339,165‌

4,375‌

198,151‌

Wireless

Telecommunication

Services

0.2%

T-Mobile

U.S. (1)

364,969‌

51,114‌

51,114‌

Total

Communication

Services

2,247,245‌

CONSUMER

DISCRETIONARY

10.6%

Automobile

Components

0.1%

Aptiv (1)

199,408‌

19,660‌

BorgWarner 

164,358‌

6,635‌

26,295‌

T.

ROWE

PRICE

Equity

Index

500

Fund

2

Shares/Par

$

Value

(Cost

and

value

in

$000s)

‡

Automobiles

2.2%

Ford

Motor 

2,770,959‌

34,415‌

General

Motors 

970,214‌

31,988‌

Tesla (1)

1,946,941‌

487,164‌

553,567‌

Broadline

Retail

3.3%

Amazon.com (1)

6,401,699‌

813,784‌

eBay 

374,946‌

16,531‌

Etsy (1)

88,463‌

5,713‌

836,028‌

Distributors

0.1%

Genuine

Parts 

99,655‌

14,388‌

LKQ 

179,972‌

8,911‌

Pool 

27,467‌

9,781‌

33,080‌

Hotels,

Restaurants

&

Leisure

2.1%

Airbnb,

Class

A (1)

300,609‌

41,247‌

Booking

Holdings (1)

25,165‌

77,608‌

Caesars

Entertainment (1)

152,792‌

7,082‌

Carnival (1)(2)

714,437‌

9,802‌

Chipotle

Mexican

Grill (1)

19,366‌

35,475‌

Darden

Restaurants (2)

85,748‌

12,281‌

Domino's

Pizza 

25,036‌

9,483‌

Expedia

Group (1)

97,222‌

10,021‌

Hilton

Worldwide

Holdings 

184,409‌

27,695‌

Las

Vegas

Sands 

232,995‌

10,680‌

Marriott

International,

Class

A 

176,633‌

34,719‌

McDonald's 

513,838‌

135,365‌

MGM

Resorts

International 

198,013‌

7,279‌

Norwegian

Cruise

Line

Holdings (1)(2)

304,575‌

5,019‌

Royal

Caribbean

Cruises (1)(2)

166,168‌

15,311‌

Starbucks 

807,619‌

73,711‌

Wynn

Resorts 

68,323‌

6,314‌

Yum!

Brands 

197,480‌

24,673‌

543,765‌

Household

Durables

0.3%

DR

Horton 

214,702‌

23,074‌

Garmin 

107,881‌

11,349‌

Lennar,

Class

A 

177,949‌

19,971‌

Mohawk

Industries (1)

38,104‌

3,270‌

NVR (1)

2,301‌

13,722‌

PulteGroup 

154,578‌

11,446‌

T.

ROWE

PRICE

Equity

Index

500

Fund

3

Shares/Par

$

Value

(Cost

and

value

in

$000s)

‡

Whirlpool 

37,844‌

5,060‌

87,892‌

Leisure

Products

0.0%

Hasbro 

93,586‌

6,190‌

6,190‌

Specialty

Retail

2.1%

AutoZone (1)

12,802‌

32,517‌

Bath

&

Body

Works 

164,482‌

5,559‌

Best

Buy 

136,382‌

9,474‌

CarMax (1)(2)

112,642‌

7,967‌

Home

Depot 

708,852‌

214,187‌

Lowe's 

413,153‌

85,870‌

O'Reilly

Automotive (1)

42,576‌

38,696‌

Ross

Stores 

240,217‌

27,133‌

TJX 

810,327‌

72,022‌

Tractor

Supply (2)

76,664‌

15,567‌

Ulta

Beauty (1)

35,087‌

14,015‌

523,007‌

Textiles,

Apparel

&

Luxury

Goods

0.4%

NIKE,

Class

B 

863,794‌

82,596‌

Ralph

Lauren (2)

29,106‌

3,379‌

Tapestry 

166,278‌

4,780‌

VF (2)

234,638‌

4,146‌

94,901‌

Total

Consumer

Discretionary

2,704,725‌

CONSUMER

STAPLES

6.5%

Beverages

1.6%

Brown-Forman,

Class

B 

129,981‌

7,499‌

Coca-Cola 

2,744,106‌

153,615‌

Constellation

Brands,

Class

A 

113,686‌

28,573‌

Keurig

Dr

Pepper 

709,311‌

22,393‌

Molson

Coors

Beverage,

Class

B 

130,689‌

8,310‌

Monster

Beverage (1)

524,381‌

27,766‌

PepsiCo 

970,597‌

164,458‌

412,614‌

Consumer

Staples

Distribution

&

Retail

1.8%

Costco

Wholesale 

312,453‌

176,523‌

Dollar

General 

155,455‌

16,447‌

Dollar

Tree (1)

147,498‌

15,701‌

Kroger 

463,278‌

20,732‌

Sysco 

357,201‌

23,593‌

Target 

324,137‌

35,840‌

Walgreens

Boots

Alliance 

507,816‌

11,294‌

T.

ROWE

PRICE

Equity

Index

500

Fund

4

Shares/Par

$

Value

(Cost

and

value

in

$000s)

‡

Walmart 

1,006,266‌

160,932‌

461,062‌

Food

Products

1.0%

Archer-Daniels-Midland 

378,033‌

28,511‌

Bunge 

106,113‌

11,487‌

Campbell

Soup 

138,452‌

5,688‌

Conagra

Brands 

336,316‌

9,222‌

General

Mills 

412,649‌

26,405‌

Hershey 

104,496‌

20,908‌

Hormel

Foods 

205,822‌

7,827‌

J

M

Smucker 

72,024‌

8,852‌

Kellogg 

183,900‌

10,944‌

Kraft

Heinz 

565,850‌

19,035‌

Lamb

Weston

Holdings 

102,702‌

9,496‌

McCormick 

176,238‌

13,331‌

Mondelez

International,

Class

A 

959,234‌

66,571‌

Tyson

Foods,

Class

A 

202,426‌

10,220‌

248,497‌

Household

Products

1.3%

Church

&

Dwight 

173,242‌

15,874‌

Clorox 

87,364‌

11,450‌

Colgate-Palmolive 

582,724‌

41,438‌

Kimberly-Clark 

239,398‌

28,931‌

Procter

&

Gamble 

1,662,073‌

242,430‌

340,123‌

Personal

Care

Products

0.2%

Estee

Lauder,

Class

A 

163,409‌

23,621‌

Kenvue 

1,209,469‌

24,286‌

47,907‌

Tobacco

0.6%

Altria

Group 

1,251,299‌

52,617‌

Philip

Morris

International 

1,094,275‌

101,308‌

153,925‌

Total

Consumer

Staples

1,664,128‌

ENERGY

4.7%

Energy

Equipment

&

Services

0.4%

Baker

Hughes 

712,549‌

25,167‌

Halliburton 

633,623‌

25,662‌

Schlumberger 

1,002,088‌

58,422‌

109,251‌

Oil,

Gas

&

Consumable

Fuels

4.3%

APA 

216,375‌

8,893‌

T.

ROWE

PRICE

Equity

Index

500

Fund

5

Shares/Par

$

Value

(Cost

and

value

in

$000s)

‡

Chevron 

1,250,964‌

210,937‌

ConocoPhillips 

844,305‌

101,148‌

Coterra

Energy 

537,063‌

14,528‌

Devon

Energy 

451,509‌

21,537‌

Diamondback

Energy 

126,102‌

19,531‌

EOG

Resources 

410,559‌

52,042‌

EQT 

252,846‌

10,260‌

Exxon

Mobil 

2,822,500‌

331,870‌

Hess 

194,772‌

29,800‌

Kinder

Morgan 

1,366,991‌

22,665‌

Marathon

Oil 

426,629‌

11,412‌

Marathon

Petroleum 

281,914‌

42,665‌

Occidental

Petroleum 

467,816‌

30,352‌

ONEOK 

412,702‌

26,178‌

Phillips

66 

313,955‌

37,722‌

Pioneer

Natural

Resources 

164,119‌

37,673‌

Targa

Resources 

157,598‌

13,509‌

Valero

Energy 

248,980‌

35,283‌

Williams 

857,325‌

28,883‌

1,086,888‌

Total

Energy

1,196,139‌

FINANCIALS

12.7%

Banks

3.0%

Bank

of

America 

4,874,470‌

133,463‌

Citigroup 

1,357,830‌

55,848‌

Citizens

Financial

Group 

333,134‌

8,928‌

Comerica 

93,009‌

3,865‌

Fifth

Third

Bancorp 

482,597‌

12,224‌

Huntington

Bancshares 

1,018,359‌

10,591‌

JPMorgan

Chase 

2,048,971‌

297,142‌

KeyCorp 

663,854‌

7,143‌

M&T

Bank 

117,621‌

14,873‌

PNC

Financial

Services

Group 

280,826‌

34,477‌

Regions

Financial 

665,190‌

11,441‌

Truist

Financial 

938,739‌

26,857‌

U.S.

Bancorp 

1,097,757‌

36,292‌

Wells

Fargo 

2,579,670‌

105,405‌

Zions

Bancorp 

107,158‌

3,739‌

762,288‌

Capital

Markets

2.8%

Ameriprise

Financial 

72,368‌

23,858‌

Bank

of

New

York

Mellon 

549,089‌

23,419‌

BlackRock 

98,951‌

63,971‌

Blackstone 

500,418‌

53,615‌

T.

ROWE

PRICE

Equity

Index

500

Fund

6

Shares/Par

$

Value

(Cost

and

value

in

$000s)

‡

Cboe

Global

Markets 

73,911‌

11,546‌

Charles

Schwab 

1,048,227‌

57,548‌

CME

Group 

254,264‌

50,909‌

FactSet

Research

Systems 

26,868‌

11,748‌

Franklin

Resources 

200,096‌

4,918‌

Goldman

Sachs

Group 

232,438‌

75,210‌

Intercontinental

Exchange 

403,437‌

44,386‌

Invesco 

322,842‌

4,688‌

MarketAxess

Holdings 

26,720‌

5,708‌

Moody's 

110,772‌

35,023‌

Morgan

Stanley 

899,564‌

73,467‌

MSCI 

55,770‌

28,615‌

Nasdaq 

238,801‌

11,603‌

Northern

Trust 

145,716‌

10,124‌

Raymond

James

Financial 

132,558‌

13,313‌

S&P

Global 

229,427‌

83,835‌

State

Street 

224,661‌

15,043‌

T.

Rowe

Price

Group (3)

158,045‌

16,574‌

719,121‌

Consumer

Finance

0.4%

American

Express 

410,207‌

61,199‌

Capital

One

Financial 

268,828‌

26,090‌

Discover

Financial

Services 

176,272‌

15,270‌

Synchrony

Financial 

294,492‌

9,003‌

111,562‌

Financial

Services

4.3%

Berkshire

Hathaway,

Class

B (1)

1,285,809‌

450,419‌

Fidelity

National

Information

Services 

417,522‌

23,076‌

Fiserv (1)

429,848‌

48,556‌

FleetCor

Technologies (1)

52,094‌

13,302‌

Global

Payments 

183,221‌

21,142‌

Jack

Henry

&

Associates 

51,867‌

7,839‌

Mastercard,

Class

A 

586,622‌

232,249‌

PayPal

Holdings (1)

774,184‌

45,259‌

Visa,

Class

A 

1,132,885‌

260,575‌

1,102,417‌

Insurance

2.2%

Aflac 

381,203‌

29,257‌

Allstate 

184,322‌

20,535‌

American

International

Group 

501,997‌

30,421‌

Aon,

Class

A 

143,045‌

46,378‌

Arch

Capital

Group (1)

264,380‌

21,074‌

Arthur

J

Gallagher 

151,719‌

34,581‌

Assurant 

37,547‌

5,391‌

T.

ROWE

PRICE

Equity

Index

500

Fund

7

Shares/Par

$

Value

(Cost

and

value

in

$000s)

‡

Brown

&

Brown 

167,758‌

11,716‌

Chubb 

289,612‌

60,291‌

Cincinnati

Financial 

110,010‌

11,253‌

Everest

Group 

30,647‌

11,391‌

Globe

Life 

61,205‌

6,655‌

Hartford

Financial

Services

Group 

215,673‌

15,293‌

Loews 

130,439‌

8,258‌

Marsh

&

McLennan 

348,288‌

66,279‌

MetLife 

445,446‌

28,023‌

Principal

Financial

Group 

156,841‌

11,303‌

Progressive 

413,415‌

57,589‌

Prudential

Financial 

255,977‌

24,290‌

Travelers 

161,442‌

26,365‌

W

R

Berkley 

143,937‌

9,139‌

Willis

Towers

Watson 

73,926‌

15,448‌

550,930‌

Total

Financials

3,246,318‌

HEALTH

CARE

13.3%

Biotechnology

2.1%

AbbVie 

1,245,168‌

185,605‌

Amgen 

377,095‌

101,348‌

Biogen (1)

102,079‌

26,235‌

Gilead

Sciences 

878,370‌

65,825‌

Incyte (1)

133,041‌

7,686‌

Moderna (1)

232,612‌

24,026‌

Regeneron

Pharmaceuticals (1)

75,264‌

61,939‌

Vertex

Pharmaceuticals (1)

182,089‌

63,320‌

535,984‌

Health

Care

Equipment

&

Supplies

2.6%

Abbott

Laboratories 

1,223,572‌

118,503‌

Align

Technology (1)

50,467‌

15,409‌

Baxter

International 

357,243‌

13,482‌

Becton

Dickinson

&

Company 

204,544‌

52,881‌

Boston

Scientific (1)

1,032,368‌

54,509‌

Cooper 

35,064‌

11,151‌

DENTSPLY

SIRONA 

152,794‌

5,219‌

Dexcom (1)

273,361‌

25,505‌

Edwards

Lifesciences (1)

430,198‌

29,804‌

GE

HealthCare

Technologies 

277,389‌

18,873‌

Hologic (1)

174,509‌

12,111‌

IDEXX

Laboratories (1)

58,503‌

25,582‌

Insulet (1)

48,941‌

7,806‌

Intuitive

Surgical (1)

247,841‌

72,441‌

Medtronic 

938,408‌

73,534‌

T.

ROWE

PRICE

Equity

Index

500

Fund

8

Shares/Par

$

Value

(Cost

and

value

in

$000s)

‡

ResMed 

104,235‌

15,413‌

STERIS 

69,506‌

15,251‌

Stryker 

238,275‌

65,113‌

Teleflex 

33,435‌

6,567‌

Zimmer

Biomet

Holdings 

147,951‌

16,603‌

655,757‌

Health

Care

Providers

&

Services

3.0%

Cardinal

Health 

180,569‌

15,677‌

Cencora 

114,903‌

20,679‌

Centene (1)

381,834‌

26,301‌

Cigna

Group 

209,151‌

59,832‌

CVS

Health 

906,416‌

63,286‌

DaVita (1)

39,214‌

3,707‌

Elevance

Health 

166,155‌

72,347‌

HCA

Healthcare 

141,924‌

34,911‌

Henry

Schein (1)

91,917‌

6,825‌

Humana 

87,337‌

42,491‌

Laboratory

Corp.

of

America

Holdings 

62,906‌

12,647‌

McKesson 

95,208‌

41,401‌

Molina

Healthcare (1)

40,904‌

13,412‌

Quest

Diagnostics 

79,732‌

9,716‌

UnitedHealth

Group 

653,102‌

329,288‌

Universal

Health

Services,

Class

B 

43,724‌

5,497‌

758,017‌

Life

Sciences

Tools

&

Services

1.5%

Agilent

Technologies 

208,159‌

23,276‌

Bio-Rad

Laboratories,

Class

A (1)

14,693‌

5,267‌

Bio-Techne 

112,193‌

7,637‌

Charles

River

Laboratories

International (1)

36,169‌

7,088‌

Danaher 

463,319‌

114,949‌

Illumina (1)

111,535‌

15,312‌

IQVIA

Holdings (1)

129,131‌

25,406‌

Mettler-Toledo

International (1)

15,407‌

17,072‌

Revvity 

87,422‌

9,678‌

Thermo

Fisher

Scientific 

272,136‌

137,747‌

Waters (1)

41,365‌

11,343‌

West

Pharmaceutical

Services 

52,048‌

19,529‌

394,304‌

Pharmaceuticals

4.1%

Bristol-Myers

Squibb 

1,473,013‌

85,494‌

Catalent (1)

128,859‌

5,867‌

Eli

Lilly 

562,222‌

301,986‌

Johnson

&

Johnson 

1,697,824‌

264,436‌

Merck 

1,789,006‌

184,178‌

T.

ROWE

PRICE

Equity

Index

500

Fund

9

Shares/Par

$

Value

(Cost

and

value

in

$000s)

‡

Organon 

179,693‌

3,120‌

Pfizer 

3,982,401‌

132,096‌

Viatris 

849,458‌

8,376‌

Zoetis 

324,574‌

56,469‌

1,042,022‌

Total

Health

Care

3,386,084‌

INDUSTRIALS

&

BUSINESS

SERVICES

8.6%

Aerospace

&

Defense

1.5%

Axon

Enterprise (1)

49,494‌

9,849‌

Boeing (1)

399,922‌

76,657‌

General

Dynamics 

159,627‌

35,273‌

Howmet

Aerospace 

276,100‌

12,770‌

Huntington

Ingalls

Industries 

28,360‌

5,802‌

L3Harris

Technologies 

133,284‌

23,207‌

Lockheed

Martin 

158,035‌

64,630‌

Northrop

Grumman 

100,280‌

44,142‌

RTX 

1,026,281‌

73,861‌

Textron 

141,005‌

11,018‌

TransDigm

Group (1)

38,907‌

32,804‌

390,013‌

Air

Freight

&

Logistics

0.6%

CH

Robinson

Worldwide 

83,504‌

7,192‌

Expeditors

International

of

Washington 

104,309‌

11,957‌

FedEx 

162,422‌

43,029‌

United

Parcel

Service,

Class

B 

509,979‌

79,490‌

141,668‌

Building

Products

0.4%

A.O.

Smith 

88,466‌

5,850‌

Allegion 

62,567‌

6,520‌

Carrier

Global 

592,342‌

32,697‌

Johnson

Controls

International 

479,737‌

25,527‌

Masco 

158,130‌

8,452‌

Trane

Technologies 

160,979‌

32,664‌

111,710‌

Commercial

Services

&

Supplies

0.5%

Cintas 

60,952‌

29,319‌

Copart (1)

608,663‌

26,227‌

Republic

Services 

145,840‌

20,784‌

Rollins 

193,316‌

7,216‌

Waste

Management 

259,995‌

39,634‌

123,180‌

T.

ROWE

PRICE

Equity

Index

500

Fund

10

Shares/Par

$

Value

(Cost

and

value

in

$000s)

‡

Construction

&

Engineering

0.1%

Quanta

Services 

102,133‌

19,106‌

19,106‌

Electrical

Equipment

0.6%

AMETEK 

163,223‌

24,118‌

Eaton 

281,797‌

60,102‌

Emerson

Electric 

403,198‌

38,937‌

Generac

Holdings (1)

44,664‌

4,866‌

Rockwell

Automation 

80,944‌

23,139‌

151,162‌

Ground

Transportation

0.8%

CSX 

1,414,713‌

43,502‌

JB

Hunt

Transport

Services 

57,584‌

10,856‌

Norfolk

Southern 

160,079‌

31,524‌

Old

Dominion

Freight

Line 

63,146‌

25,836‌

Union

Pacific 

429,723‌

87,505‌

199,223‌

Industrial

Conglomerates

1.0%

3M 

387,473‌

36,275‌

General

Electric 

767,408‌

84,837‌

Honeywell

International 

468,155‌

86,487‌

Roper

Technologies 

75,216‌

36,426‌

244,025‌

Machinery

1.8%

Caterpillar 

359,682‌

98,193‌

Cummins 

100,431‌

22,945‌

Deere 

192,248‌

72,551‌

Dover 

98,540‌

13,747‌

Fortive 

248,049‌

18,395‌

IDEX 

53,715‌

11,174‌

Illinois

Tool

Works 

193,967‌

44,673‌

Ingersoll

Rand 

286,916‌

18,282‌

Nordson 

38,572‌

8,608‌

Otis

Worldwide 

290,167‌

23,303‌

PACCAR 

368,478‌

31,328‌

Parker-Hannifin 

90,045‌

35,074‌

Pentair 

117,309‌

7,596‌

Snap-on 

37,078‌

9,457‌

Stanley

Black

&

Decker 

106,639‌

8,913‌

Westinghouse

Air

Brake

Technologies 

126,193‌

13,411‌

Xylem 

169,408‌

15,421‌

453,071‌

T.

ROWE

PRICE

Equity

Index

500

Fund

11

Shares/Par

$

Value

(Cost

and

value

in

$000s)

‡

Passenger

Airlines

0.2%

Alaska

Air

Group (1)

90,516‌

3,356‌

American

Airlines

Group (1)(2)

463,404‌

5,936‌

Delta

Air

Lines 

452,713‌

16,751‌

Southwest

Airlines 

424,385‌

11,488‌

United

Airlines

Holdings (1)

232,522‌

9,836‌

47,367‌

Professional

Services

0.8%

Automatic

Data

Processing 

290,492‌

69,886‌

Broadridge

Financial

Solutions 

83,219‌

14,900‌

Ceridian

HCM

Holding (1)

109,795‌

7,450‌

Equifax 

86,996‌

15,936‌

Jacobs

Solutions 

88,776‌

12,118‌

Leidos

Holdings 

97,436‌

8,980‌

Paychex 

226,149‌

26,082‌

Paycom

Software 

34,577‌

8,965‌

Robert

Half 

74,880‌

5,487‌

Verisk

Analytics 

102,719‌

24,266‌

194,070‌

Trading

Companies

&

Distributors

0.3%

Fastenal 

405,101‌

22,135‌

United

Rentals 

48,153‌

21,407‌

WW

Grainger 

31,360‌

21,696‌

65,238‌

Total

Industrials

&

Business

Services

2,139,833‌

INFORMATION

TECHNOLOGY

27.2%

Communications

Equipment

0.9%

Arista

Networks (1)

175,167‌

32,218‌

Cisco

Systems 

2,873,170‌

154,462‌

F5 (1)

41,743‌

6,726‌

Juniper

Networks 

230,729‌

6,412‌

Motorola

Solutions 

117,774‌

32,063‌

231,881‌

Electronic

Equipment,

Instruments

&

Components

0.6%

Amphenol,

Class

A 

420,231‌

35,295‌

CDW 

94,457‌

19,058‌

Corning 

544,015‌

16,576‌

Keysight

Technologies (1)

126,364‌

16,719‌

TE

Connectivity 

221,377‌

27,347‌

Teledyne

Technologies (1)

33,164‌

13,550‌

Trimble (1)

176,738‌

9,519‌

Zebra

Technologies,

Class

A (1)

36,042‌

8,525‌

146,589‌

T.

ROWE

PRICE

Equity

Index

500

Fund

12

Shares/Par

$

Value

(Cost

and

value

in

$000s)

‡

IT

Services

1.2%

Accenture,

Class

A 

444,713‌

136,576‌

Akamai

Technologies (1)

106,460‌

11,342‌

Cognizant

Technology

Solutions,

Class

A 

356,140‌

24,125‌

DXC

Technology (1)

144,848‌

3,017‌

EPAM

Systems (1)

40,823‌

10,438‌

Gartner (1)

55,544‌

19,085‌

International

Business

Machines 

642,158‌

90,095‌

VeriSign (1)

63,206‌

12,801‌

307,479‌

Semiconductors

&

Semiconductor

Equipment

7.4%

Advanced

Micro

Devices (1)

1,135,771‌

116,780‌

Analog

Devices 

353,552‌

61,903‌

Applied

Materials 

592,100‌

81,976‌

Broadcom 

290,968‌

241,672‌

Enphase

Energy (1)

96,045‌

11,540‌

First

Solar (1)

75,322‌

12,171‌

Intel 

2,949,881‌

104,868‌

KLA 

96,372‌

44,202‌

Lam

Research 

93,989‌

58,910‌

Microchip

Technology 

383,839‌

29,959‌

Micron

Technology 

772,677‌

52,565‌

Monolithic

Power

Systems 

33,686‌

15,563‌

NVIDIA 

1,741,504‌

757,537‌

NXP

Semiconductors 

182,324‌

36,450‌

ON

Semiconductor (1)

304,704‌

28,322‌

Qorvo (1)

68,914‌

6,579‌

QUALCOMM 

787,789‌

87,492‌

Skyworks

Solutions 

113,509‌

11,191‌

SolarEdge

Technologies (1)

40,147‌

5,200‌

Teradyne 

109,908‌

11,041‌

Texas

Instruments 

640,197‌

101,798‌

1,877,719‌

Software

9.9%

Adobe (1)

321,367‌

163,865‌

ANSYS (1)

61,471‌

18,291‌

Autodesk (1)

150,708‌

31,183‌

Cadence

Design

Systems (1)

191,581‌

44,887‌

Fair

Isaac (1)

17,513‌

15,211‌

Fortinet (1)

457,595‌

26,852‌

Gen

Digital 

402,864‌

7,123‌

Intuit 

197,467‌

100,894‌

Microsoft 

5,238,447‌

1,654,040‌

Oracle 

1,109,958‌

117,567‌

T.

ROWE

PRICE

Equity

Index

500

Fund

13

Shares/Par

$

Value

(Cost

and

value

in

$000s)

‡

Palo

Alto

Networks (1)

215,646‌

50,556‌

PTC (1)

83,784‌

11,870‌

Salesforce (1)

686,730‌

139,255‌

ServiceNow (1)

143,814‌

80,386‌

Synopsys (1)

107,419‌

49,302‌

Tyler

Technologies (1)

29,801‌

11,507‌

2,522,789‌

Technology

Hardware,

Storage

&

Peripherals

7.2%

Apple 

10,361,722‌

1,774,030‌

Hewlett

Packard

Enterprise 

914,601‌

15,887‌

HP 

612,904‌

15,752‌

NetApp 

148,493‌

11,268‌

Seagate

Technology

Holdings 

137,400‌

9,061‌

Western

Digital (1)

228,447‌

10,424‌

1,836,422‌

Total

Information

Technology

6,922,879‌

MATERIALS

2.4%

Chemicals

1.7%

Air

Products

&

Chemicals 

156,637‌

44,391‌

Albemarle 

83,226‌

14,152‌

Celanese 

71,098‌

8,924‌

CF

Industries

Holdings 

134,595‌

11,540‌

Corteva 

500,211‌

25,591‌

Dow 

495,783‌

25,562‌

DuPont

de

Nemours 

323,514‌

24,131‌

Eastman

Chemical 

85,255‌

6,541‌

Ecolab 

178,860‌

30,299‌

FMC 

89,589‌

6,000‌

International

Flavors

&

Fragrances 

179,804‌

12,257‌

Linde 

344,043‌

128,104‌

LyondellBasell

Industries,

Class

A 

179,988‌

17,045‌

Mosaic 

233,985‌

8,330‌

PPG

Industries 

166,978‌

21,674‌

Sherwin-Williams 

165,481‌

42,206‌

426,747‌

Construction

Materials

0.1%

Martin

Marietta

Materials 

43,549‌

17,876‌

Vulcan

Materials 

93,626‌

18,914‌

36,790‌

Containers

&

Packaging

0.2%

Amcor 

1,036,257‌

9,492‌

Avery

Dennison 

56,753‌

10,367‌

Ball 

223,006‌

11,101‌

T.

ROWE

PRICE

Equity

Index

500

Fund

14

Shares/Par

$

Value

(Cost

and

value

in

$000s)

‡

International

Paper 

243,621‌

8,641‌

Packaging

Corp.

of

America 

63,320‌

9,723‌

Sealed

Air 

102,817‌

3,379‌

Westrock 

180,383‌

6,458‌

59,161‌

Metals

&

Mining

0.4%

Freeport-McMoRan 

1,011,260‌

37,710‌

Newmont 

560,047‌

20,694‌

Nucor 

175,389‌

27,422‌

Steel

Dynamics 

109,820‌

11,775‌

97,601‌

Total

Materials

620,299‌

REAL

ESTATE

2.4%

Health

Care

Real

Estate

Investment

Trusts

0.2%

Healthpeak

Properties,

REIT 

391,289‌

7,184‌

Ventas,

REIT 

283,692‌

11,952‌

Welltower,

REIT 

365,736‌

29,961‌

49,097‌

Hotel

&

Resort

Real

Estate

Investment

Trusts

0.0%

Host

Hotels

&

Resorts,

REIT 

509,855‌

8,193‌

8,193‌

Industrial

Real

Estate

Investment

Trusts

0.3%

Prologis,

REIT 

651,289‌

73,081‌

73,081‌

Office

Real

Estate

Investment

Trusts

0.1%

Alexandria

Real

Estate

Equities,

REIT 

109,696‌

10,981‌

Boston

Properties,

REIT (2)

102,542‌

6,099‌

17,080‌

Real

Estate

Management

&

Development

0.1%

CBRE

Group,

Class

A (1)

218,312‌

16,124‌

CoStar

Group (1)

287,761‌

22,126‌

38,250‌

Residential

Real

Estate

Investment

Trusts

0.3%

AvalonBay

Communities,

REIT 

99,284‌

17,051‌

Camden

Property

Trust,

REIT 

75,169‌

7,110‌

Equity

Residential,

REIT 

241,231‌

14,163‌

Essex

Property

Trust,

REIT 

45,202‌

9,587‌

Invitation

Homes,

REIT 

405,690‌

12,856‌

Mid-America

Apartment

Communities,

REIT 

82,474‌

10,610‌

UDR,

REIT 

213,821‌

7,627‌

79,004‌

T.

ROWE

PRICE

Equity

Index

500

Fund

15

Shares/Par

$

Value

(Cost

and

value

in

$000s)

‡

Retail

Real

Estate

Investment

Trusts

0.3%

Federal

Realty

Investment

Trust,

REIT 

51,997‌

4,712‌

Kimco

Realty,

REIT 

433,122‌

7,619‌

Realty

Income,

REIT 

499,739‌

24,957‌

Regency

Centers,

REIT 

116,928‌

6,950‌

Simon

Property

Group,

REIT 

230,593‌

24,911‌

69,149‌

Specialized

Real

Estate

Investment

Trusts

1.1%

American

Tower,

REIT 

328,606‌

54,039‌

Crown

Castle,

REIT 

306,018‌

28,163‌

Digital

Realty

Trust,

REIT 

213,428‌

25,829‌

Equinix,

REIT 

65,968‌

47,910‌

Extra

Space

Storage,

REIT 

148,639‌

18,072‌

Iron

Mountain,

REIT 

204,581‌

12,162‌

Public

Storage,

REIT 

110,859‌

29,214‌

SBA

Communications,

REIT 

76,365‌

15,286‌

VICI

Properties,

REIT 

712,442‌

20,732‌

Weyerhaeuser,

REIT 

514,874‌

15,786‌

267,193‌

Total

Real

Estate

601,047‌

UTILITIES

2.4%

Electric

Utilities

1.6%

Alliant

Energy 

179,053‌

8,675‌

American

Electric

Power 

363,089‌

27,312‌

Constellation

Energy 

226,777‌

24,737‌

Duke

Energy 

543,535‌

47,972‌

Edison

International 

269,047‌

17,028‌

Entergy 

149,940‌

13,869‌

Evergy 

163,750‌

8,302‌

Eversource

Energy 

246,891‌

14,357‌

Exelon 

701,418‌

26,507‌

FirstEnergy 

363,935‌

12,439‌

NextEra

Energy 

1,426,901‌

81,747‌

NRG

Energy 

160,039‌

6,165‌

PG&E (1)

1,474,455‌

23,783‌

Pinnacle

West

Capital 

80,222‌

5,911‌

PPL 

519,250‌

12,233‌

Southern 

769,968‌

49,832‌

Xcel

Energy 

388,671‌

22,240‌

403,109‌

Gas

Utilities

0.0%

Atmos

Energy 

102,474‌

10,855‌

10,855‌

T.

ROWE

PRICE

Equity

Index

500

Fund

16

Shares/Par

$

Value

(Cost

and

value

in

$000s)

‡

Independent

Power

&

Renewable

Electricity

Producers

0.0%

AES 

470,132‌

7,146‌

7,146‌

Multi-Utilities

0.7%

Ameren 

183,029‌

13,696‌

CenterPoint

Energy 

447,407‌

12,013‌

CMS

Energy 

205,688‌

10,924‌

Consolidated

Edison 

243,069‌

20,790‌

Dominion

Energy 

589,741‌

26,344‌

DTE

Energy 

146,171‌

14,512‌

NiSource 

288,624‌

7,123‌

Public

Service

Enterprise

Group 

353,969‌

20,144‌

Sempra 

443,235‌

30,153‌

WEC

Energy

Group 

223,751‌

18,023‌

173,722‌

Water

Utilities

0.1%

American

Water

Works 

137,944‌

17,082‌

17,082‌

Total

Utilities

611,914‌

Total

Common

Stocks

(Cost

$9,315,580)

25,340,611‌

SHORT-TERM

INVESTMENTS

0.3%

Money

Market

Funds

0.3%

T.

Rowe

Price

Government

Reserve

Fund,

5.40% (3)(4)

69,377,317‌

69,377‌

69,377‌

U.S.

Treasury

Obligations

0.0%

U.S.

Treasury

Bills,

5.256%,

12/14/23 (5)

7,130,000‌

7,053‌

7,053‌

Total

Short-Term

Investments

(Cost

$76,432)

76,430‌

T.

ROWE

PRICE

Equity

Index

500

Fund

17

Shares/Par

$

Value

(Cost

and

value

in

$000s)

‡

SECURITIES

LENDING

COLLATERAL

0.2%

INVESTMENTS

IN

A

POOLED

ACCOUNT

THROUGH

SECURITIES

LENDING

PROGRAM

WITH

STATE

STREET

BANK

AND

TRUST

COMPANY

0.2%

Money

Market

Funds

0.2%

T.

Rowe

Price

Government

Reserve

Fund,

5.40% (3)(4)

55,980,210‌

55,980‌

Total

Investments

in

a

Pooled

Account

through

Securities

Lending

Program

with

State

Street

Bank

And

Trust

Company

55,980‌

Total

Securities

Lending

Collateral

(Cost

$55,980)

55,980‌

Total

Investments

in

Securities

100.2%

(Cost

$9,447,992)

$

25,473,021‌

Other

Assets

Less

Liabilities

(0.2)%

(46,271‌)

Net

Assets

100.0%

$

25,426,750‌

‡

Shares/Par

and

Notional

Amount

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

September

30,

2023.

(3)

Affiliated

Companies

(4)

Seven-day

yield

(5)

At

September

30,

2023,

all

or

a

portion

of

this

security

is

pledged

as

collateral

and/or

margin

deposit

to

cover

future

funding

obligations.

REIT

A

domestic

Real

Estate

Investment

Trust

whose

distributions

pass-through

with

original

tax

character

to

the

shareholder

T.

ROWE

PRICE

Equity

Index

500

Fund

18

FUTURES

CONTRACTS

($000s)

Expiration

Date

Notional

Amount

Value

and

Unrealized

Gain

(Loss)

Long,

386

S&P

500

E-Mini

Index

contracts

12/23

83,482

$

(3,470‌)

Net

payments

(receipts)

of

variation

margin

to

date

3,238‌

Variation

margin

receivable

(payable)

on

open

futures

contracts

$

(232‌)

T.

ROWE

PRICE

Equity

Index

500

Fund

19

The

accompanying

notes

are

an

integral

part

of

this

Portfolio

of

Investments.

AFFILIATED

COMPANIES

($000s)

The

fund

may

invest

in

certain

securities

that

are

considered

affiliated

companies.

As

defined

by

the

1940

Act,

an

affiliated

company

is

one

in

which

the

fund

owns

5%

or

more

of

the

outstanding

voting

securities,

or

a

company

that

is

under

common

ownership

or

control.

The

following

securities

were

considered

affiliated

companies

for

all

or

some

portion

of

the

nine

months

ended

September

30,

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

Group 

$

240‌

$

(879‌)

$

584‌

T.

Rowe

Price

Government

Reserve

Fund,

5.40%

—‌

—‌

2,293‌++

Totals

$

240‌#

$

(879‌)

$

2,877‌+

Supplementary

Investment

Schedule

Affiliate

Value

12/31/22

Purchase

Cost

Sales

Cost

Value

09/30/23

T.

Rowe

Price

Group 

$

17,546‌

$

319‌

$

412‌

$

16,574‌

T.

Rowe

Price

Government

Reserve

Fund,

5.40%

82,615‌

 ¤

 ¤

125,357‌

Total

$

141,931‌^

#

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

$2,877

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

$132,372.

T.

ROWE

PRICE

Equity

Index

500

Fund

Unaudited

Notes

to

Portfolio

of

Investments

20

T.

Rowe

Price

Equity

Index

500

Fund (the

fund) is

registered

under

the

Investment

Company

Act

of

1940

(the

1940

Act)

as

an

open-end

management

investment

company

and

follows

accounting

and

reporting

guidance

of

the

Financial

Accounting

Standards

Board

Accounting

Standards

Codification

Topic

946.

The

accompanying

Portfolio

of

Investments

was

prepared

in

accordance

with

accounting

principles

generally

accepted

in

the

United

States

of

America

(GAAP).

For

additional

information

on

the

fund’s

significant

accounting

policies

and

investment

related

disclosures,

please

refer

to

the

fund’s most

recent

semiannual

or

annual

shareholder

report

and

its

prospectus. 

VALUATION 

Fair

Value

  The

fund’s

financial

instruments

are

valued

at

the

close

of

the

New

York

Stock

Exchange

(NYSE),

normally

4

p.m.

ET,

each

day

the

NYSE

is

open

for

business,

and

are

reported

at

fair

value,

which

GAAP

defines

as

the

price

that

would

be

received

to

sell

an

asset

or

paid

to

transfer

a

liability

in

an

orderly

transaction

between

market

participants

at

the

measurement

date. The fund’s

Board

of

Directors

(the

Board)

has

designated

T.

Rowe

Price

Associates,

Inc.

as

the

fund’s

valuation

designee

(Valuation

Designee).

Subject

to

oversight

by

the

Board,

the

Valuation

Designee

performs

the

following

functions

in

performing

fair

value

determinations:

assesses

and

manages

valuation

risks;

establishes

and

applies

fair

value

methodologies;

tests

fair

value

methodologies;

and

evaluates

pricing

vendors

and

pricing

agents.

The

duties

and

responsibilities

of

the

Valuation

Designee

are

performed

by

its

Valuation

Committee. The

Valuation

Designee provides

periodic

reporting

to

the

Board

on

valuation

matters.

Various

valuation

techniques

and

inputs

are

used

to

determine

the

fair

value

of

financial

instruments.

GAAP

establishes

the

following

fair

value

hierarchy

that

categorizes

the

inputs

used

to

measure

fair

value:

Level

1

–

quoted

prices

(unadjusted)

in

active

markets

for

identical

financial

instruments

that

the

fund

can

access

at

the

reporting

date

Level

2

–

inputs

other

than

Level

1

quoted

prices

that

are

observable,

either

directly

or

indirectly

(including,

but

not

limited

to,

quoted

prices

for

similar

financial

instruments

in

active

markets,

quoted

prices

for

identical

or

similar

financial

instruments

in

inactive

markets,

interest

rates

and

yield

curves,

implied

volatilities,

and

credit

spreads)

Level

3

–

unobservable

inputs

(including

the Valuation

Designee’s assumptions

in

determining

fair

value)

T.

ROWE

PRICE

Equity

Index

500

Fund

21

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.

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.

Futures

contracts

are

valued

at

closing

settlement

prices.

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

T.

ROWE

PRICE

Equity

Index

500

Fund

22

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

September

30,

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.

($000s)

Level

1

Level

2

Level

3

Total

Value

Assets

Common

Stocks

$

25,340,611‌

$

—‌

$

—‌

$

25,340,611‌

Short-Term

Investments

69,377‌

7,053‌

—‌

76,430‌

Securities

Lending

Collateral

55,980‌

—‌

—‌

55,980‌

Total

$

25,465,968‌

$

7,053‌

$

—‌

$

25,473,021‌

Liabilities

Futures

Contracts*

$

3,470‌

$

—‌

$

—‌

$

3,470‌

*

The

fair

value

presented

includes

cumulative

gain

(loss)

on

open

futures

contracts;

however,

the

net

value

reflected

on

the

accompanying

Portfolio

of

Investments

is

only

the

unsettled

variation

margin

receivable

(payable)

at

that

date.

T.

ROWE

PRICE

Equity

Index

500

Fund

23

Since

2020,

a

novel

strain

of

coronavirus

(COVID-19)

has

resulted

in

disruptions

to

global

business

activity

and

caused

significant

volatility

and

declines

in

global

financial

markets.

In

February

2022,

Russian

forces

entered

Ukraine

and

commenced

an

armed

conflict

leading

to

economic

sanctions

being

imposed

on

Russia

and

certain

of

its

citizens,

creating

impacts

on

Russian-related

stocks

and

debt

and

greater

volatility

in

global

markets.

In

March

2023,

the

collapse

of

some

US

regional

and

global

banks

as

well

as

overall

concerns

around

the

soundness

and

stability

of

the

global

banking

sector

has

sparked

concerns

of

a

broader

financial

crisis

impacting

the

overall

global

banking

sector.

In

certain

cases,

government

agencies

have

assumed

control

or

otherwise

intervened

in

the

operations

of

certain

banks

due

to

liquidity

and

solvency

concerns.

The

extent

of

impact

of

these

events

on

the

US

and

global

markets

is

highly

uncertain.

These

are

recent

examples

of

global

events

which

may

have

a

negative

impact

on

the

values

of

certain

portfolio

holdings

or

the

fund’s

overall

performance.

Management

is

actively

monitoring

the

risks

and

financial

impacts

arising

from

these

events.

F50-054Q3

09/23