Small-Cap Index Fund_SCX_F33-051
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act File Number: 811-05986
T. Rowe Price Index Trust, Inc.
(Exact name of registrant as specified in charter)
100 East Pratt Street, Baltimore, MD 21202
(Address of principal executive
offices)
David Oestreicher
100 East Pratt Street, Baltimore, MD 21202
(Name and address of agent for service)
Registrants telephone number, including area code: (410) 345-2000
Date of fiscal year end: December 31
Date of
reporting period: June 30, 2023
Item 1. Reports to Shareholders
(a) Report pursuant to Rule 30e-1
Market
Commentary
Portfolio
Summary
Fund
Expense
Example
Financial
Highlights
Portfolio
of
Investments
Financial
Statements
and
Notes
Additional
Fund
Information
For
more
insights
from
T.
Rowe
Price
investment
professionals,
go
to
troweprice.com
.
T.
ROWE
PRICE
TRSYX
Small-Cap
Index
Fund
–
.
TRCSX
Small-Cap
Index
Fund–
.
I
Class
TRZIX
Small-Cap
Index
Fund–
.
Z Class
T.
ROWE
PRICE
Small-Cap
Index
Fund
Log
in
to
your
account
at
troweprice.com
for
more
information.
*
Certain
mutual
fund
accounts
that
are
assessed
an
annual
account
service
fee
can
also
save
money
by
switching
to
e-delivery.
T.
ROWE
PRICE
Small-Cap
Index
Fund
Market
Commentary
Dear
Shareholder
Most
major
global
stock
and
bond
indexes
produced
positive
returns
during
the
first
half
of
your
fund’s
fiscal
year,
the
six-month
period
ended
June
30,
2023.
Despite
turmoil
in
the
banking
sector
and
a
protracted
debt
ceiling
standoff,
markets
were
resilient
as
growth
remained
positive
in
the
major
economies
and
corporate
earnings
results
came
in
stronger
than
expected.
For
the
six-month
period,
the
technology-oriented
Nasdaq
Composite
Index
gained
more
than
30%,
the
strongest
result
of
the
major
benchmarks,
as
tech
companies
benefited
from
investor
enthusiasm
for
artificial
intelligence
applications.
Growth
stocks
outperformed
value
shares,
and
developed
market
stocks
generally
outpaced
their
emerging
market
counterparts.
Currency
movements
were
mixed
over
the
period,
although
a
weaker
dollar
versus
major
European
currencies
was
beneficial
for
U.S.
investors
in
European
securities.
Within
the
S&P
500
Index,
the
information
technology,
communication
services,
and
consumer
discretionary
sectors
were
all
lifted
by
the
tech
rally
and
recorded
significant
gains.
Conversely,
the
defensive
utilities
sector
had
the
weakest
returns
in
the
growth-focused
environment,
and
the
energy
sector
also
lost
ground
amid
declining
oil
prices.
The
financials
sector
partly
recovered
from
the
failure
of
three
large
regional
banks
during
the
period
but
still
finished
with
modest
losses.
Cheaper
oil
contributed
to
slowing
inflation,
although
core
inflation
readings—
which
exclude
volatile
food
and
energy
prices—remained
stubbornly
high.
In
response,
the
Federal
Reserve
raised
its
short-term
lending
benchmark
rate
to
a
target
range
of
5.00%
to
5.25%
by
early
May,
the
highest
level
since
2007.
The
Fed
held
rates
steady
at
its
June
meeting,
but
policymakers
indicated
that
two
more
rate
hikes
could
come
by
the
end
of
the
year.
In
the
fixed
income
market,
returns
were
generally
positive
across
most
sectors
as
investors
benefited
from
the
higher
interest
rates
that
have
become
available
over
the
past
year.
Investment-grade
corporate
bonds
were
supported
by
generally
solid
balance
sheets
and
were
among
the
strongest
performers.
Global
economies
and
markets
showed
surprising
resilience
in
recent
months,
but,
moving
into
the
second
half
of
2023,
we
believe
investors
could
face
potential
challenges.
The
impact
of
the
Fed’s
rate
hikes
has
yet
to
be
fully
felt
in
the
economy,
and
while
the
regional
banking
turmoil
appears
to
have
been
contained
by
the
swift
actions
of
regulators,
it
could
weigh
on
credit
conditions.
Moreover,
market
consensus
still
seems
to
point
to
a
coming
recession,
although
hopes
have
emerged
that
such
a
downturn
could
be
more
modest.
T.
ROWE
PRICE
Small-Cap
Index
Fund
We
believe
this
environment
makes
skilled
active
management
a
critical
tool
for
identifying
risks
and
opportunities,
and
our
investment
teams
will
continue
to
use
fundamental
research
to
identify
securities
that
can
add
value
to
your
portfolio
over
the
long
term.
You
may
notice
that
this
report
no
longer
contains
the
commentary
on
your
fund’s
performance
and
positioning
that
we
previously
included
in
the
semiannual
shareholder
letters.
The
Securities
and
Exchange
Commission
(SEC)
adopted
new
rules
in
January
that
will
require
fund
reports
to
transition
to
a
new
format
known
as
a
Tailored
Shareholder
Report.
This
change
will
require
a
much
more
concise
summary
of
performance
rather
than
the
level
of
detail
we
have
provided
historically
while
also
aiming
to
be
more
visually
engaging.
As
we
prepare
to
make
changes
to
the
annual
reports
to
meet
the
new
report
regulatory
requirements
by
mid-2024,
we
felt
the
time
was
right
to
discontinue
the
optional
six-month
semiannual
fund
letter
to
focus
on
the
changes
to
come.
While
semiannual
fund
letters
will
no
longer
be
produced,
you
may
continue
to
access
current
fund
information
as
well
as
insights
and
perspectives
from
our
investment
team
on
our
personal
investing
website.
Thank
you
for
your
continued
confidence
in
T.
Rowe
Price.
Sincerely,
Robert
Sharps
CEO
and
President
T.
ROWE
PRICE
Small-Cap
Index
Fund
Portfolio
Summary
SECTOR
DIVERSIFICATION
Percent
of
Net
Assets
12/31/22
6/30/23
Industrials
and
Business
Services
15.4%
17.3%
Health
Care
16.7
16.6
Financials
17.1
15.0
Information
Technology
12.6
13.5
Consumer
Discretionary
10.4
10.5
Energy
6.8
6.7
Real
Estate
6.4
6.0
Materials
4.2
4.5
Consumer
Staples
3.6
3.4
Utilities
3.5
3.1
Communication
Services
2.6
2.4
Other
and
Reserves
0.7
1.0
Total
100.0%
100.0%
Historical
weightings
reflect
current
industry/sector
classifications.
T.
ROWE
PRICE
Small-Cap
Index
Fund
PORTFOLIO
HIGHLIGHTS
TWENTY-FIVE
LARGEST
HOLDINGS
Percent
of
Net
Assets
6/30/23
Super
Micro
Computer
0.5%
SPS
Commerce
0.3
Rambus
0.3
Chart
Industries
0.3
Novanta
0.3
Chord
Energy
0.3
Light
&
Wonder
0.3
ChampionX
0.3
Atkore
0.3
Commercial
Metals
0.3
Axcelis
Technologies
0.3
Simpson
Manufacturing
0.2
Intra-Cellular
Therapies
0.2
Matador
Resources
0.2
UFP
Industries
0.2
Comfort
Systems
USA
0.2
Selective
Insurance
Group
0.2
elf
Beauty
0.2
ATI
0.2
Lantheus
Holdings
0.2
API
Group
0.2
Onto
Innovation
0.2
Murphy
Oil
0.2
Applied
Industrial
Technologies
0.2
Option
Care
Health
0.2
Total
6.3%
Note:
The
information
shown
does
not
reflect
any
exchange-traded
funds
(ETFs),
cash
reserves,
or
collateral
for
securities
lending
that
may
be
held
in
the
portfolio.
T.
ROWE
PRICE
Small-Cap
Index
Fund
FUND
EXPENSE
EXAMPLE
As
a
mutual
fund
shareholder,
you
may
incur
two
types
of
costs:
(1)
transaction
costs,
such
as
redemption
fees
or
sales
loads,
and
(2)
ongoing
costs,
including
management
fees,
distribution
and
service
(12b-1)
fees,
and
other
fund
expenses.
The
following
example
is
intended
to
help
you
understand
your
ongoing
costs
(in
dollars)
of
investing
in
the
fund
and
to
compare
these
costs
with
the
ongoing
costs
of
investing
in
other
mutual
funds.
The
example
is
based
on
an
investment
of
$1,000
invested
at
the
beginning
of
the
most
recent
six-month
period
and
held
for
the
entire
period.
Please
note
that
the
fund
has
three
share
classes:
The
Investor
Class
charges
no
distribution
and
service
(12b-1)
fee, the
I
Class
shares
are
also
available
to
institutionally
oriented
clients
and
impose
no
12b-1
or
administrative
fee
payment,
and
Z
Class
shares
are
offered
only
to
funds
advised
by
T.
Rowe
Price
and
other
advisory
clients
of
T.
Rowe
Price
or
its
affiliates
that
are
subject
to
a
contractual
fee
for
investment
management
services
and
impose
no
12b-1
fee
or
administrative
fee
payment.
Each
share
class
is
presented
separately
in
the
table.
Actual
Expenses
The
first
line
of
the
following
table
(Actual)
provides
information
about
actual
account
values
and
actual
expenses.
You
may
use
the
information
on
this
line,
together
with
your
account
balance,
to
estimate
the
expenses
that
you
paid
over
the
period.
Simply
divide
your
account
value
by
$1,000
(for
example,
an
$8,600
account
value
divided
by
$1,000
=
8.6),
then
multiply
the
result
by
the
number
on
the
first
line
under
the
heading
“Expenses
Paid
During
Period”
to
estimate
the
expenses
you
paid
on
your
account
during
this
period.
Hypothetical
Example
for
Comparison
Purposes
The
information
on
the
second
line
of
the
table
(Hypothetical)
is
based
on
hypothetical
account
values
and
expenses
derived
from
the
fund’s
actual
expense
ratio
and
an
assumed
5%
per
year
rate
of
return
before
expenses
(not
the
fund’s
actual
return).
You
may
compare
the
ongoing
costs
of
investing
in
the
fund
with
other
funds
by
contrasting
this
5%
hypothetical
example
and
the
5%
hypothetical
examples
that
appear
in
the
shareholder
reports
of
the
other
funds.
The
hypothetical
account
values
and
expenses
may
not
be
used
to
estimate
the
actual
ending
account
balance
or
expenses
you
paid
for
the
period.
Note:
T.
Rowe
Price
charges
an
account
service
fee
that
is
not
included
in
the
accompanying
table.
The
account
service
fee
is
charged
on
a
quarterly
basis,
usually
during
the
last
week
of
a
calendar
quarter,
and
applies
to
accounts
with
balances
below
$10,000
on
the
day
of
the
assessment.
The
fee
is
charged
to
accounts
that
fall
below
$10,000
for
any
reason,
including
market
fluctuations,
redemptions,
or
exchanges.
When
an
account
with
less
than
$10,000
is
closed
either
through
redemption
or
exchange,
the
fee
is
charged
and
deducted
from
the
proceeds.
The
fee
applies
to
IRAs
but
not
to
retirement
plans
directly
registered
with
T.
Rowe
Price
Services
or
accounts
maintained
by
intermediaries
through
NSCC
®
Networking.
If
you
are
subject
to
the
fee,
keep
it
in
mind
when
you
are
estimating
the
ongoing
expenses
of
investing
in
the
fund
and
when
comparing
the
expenses
of
this
fund
with
other
funds.
You
should
also
be
aware
that
the
expenses
shown
in
the
table
highlight
only
your
ongoing
costs
and
do
not
reflect
any
transaction
costs,
such
as
redemption
fees
or
sales
loads.
Therefore,
the
second
line
of
the
table
is
useful
in
comparing
ongoing
costs
only
and
will
not
help
you
determine
the
relative
total
costs
of
owning
different
funds.
To
the
extent
a
fund
charges
transaction
costs,
however,
the
total
cost
of
owning
that
fund
is
higher.
T.
ROWE
PRICE
Small-Cap
Index
Fund
SMALL-CAP
INDEX
FUND
Beginning
Account
Value
1/1/23
Ending
Account
Value
6/30/23
Expenses
Paid
During
Period*
1/1/23
to
6/30/23
Investor
Class
Actual
$1,000.00
$1,080.10
$1.50
Hypothetical
(assumes
5%
return
before
expenses)
1,000.00
1,023.36
1.45
I
Class
Actual
1,000.00
1,080.50
0.72
Hypothetical
(assumes
5%
return
before
expenses)
1,000.00
1,024.10
0.70
Z
Class
Actual
1,000.00
1,081.40
0.00
Hypothetical
(assumes
5%
return
before
expenses)
1,000.00
1,024.79
0.00
*
Expenses
are
equal
to
the
fund’s
annualized
expense
ratio
for
the
6-month
period,
multiplied
by
the
average
account
value
over
the
period,
multiplied
by
the
number
of
days
in
the
most
recent
fiscal
half
year
(181),
and
divided
by
the
days
in
the
year
(365)
to
reflect
the
half-year
period.
The
annualized
expense
ratio
of
the
1
Investor
Class
was
0.29%,
the
2
I Class
was
0.14%,
and
the
3
Z Class
was
0.00%.
FUND
EXPENSE
EXAMPLE
(CONTINUED)
T.
ROWE
PRICE
Small-Cap
Index
Fund
(Unaudited)
For
a
share
outstanding
throughout
each
period
Investor
Class
6
Months
.
Ended
6/30/23
..
Year
..
..
Ended
.
12/31/22
12/31/21
12/31/20
12/31/19
12/31/18
NET
ASSET
VALUE
Beginning
of
period
$
12
.48
$
15
.93
$
14
.16
$
12
.20
$
10
.19
$
12
.48
Investment
activities
Net
investment
income
(1)(2)
0
.08
0
.17
0
.11
0
.11
0
.15
0
.16
Net
realized
and
unrealized
gain/loss
0
.92
(
3
.44
)
1
.91
2
.30
2
.42
(
1
.49
)
Total
from
investment
activities
1
.00
(
3
.27
)
2
.02
2
.41
2
.57
(
1
.33
)
Distributions
Net
investment
income
—
(
0
.16
)
(
0
.11
)
(
0
.12
)
(
0
.15
)
(
0
.16
)
Net
realized
gain
—
(
0
.02
)
(
0
.14
)
(
0
.33
)
(
0
.41
)
(
0
.80
)
Total
distributions
—
(
0
.18
)
(
0
.25
)
(
0
.45
)
(
0
.56
)
(
0
.96
)
NET
ASSET
VALUE
End
of
period
$
13
.48
$
12
.48
$
15
.93
$
14
.16
$
12
.20
$
10
.19
T.
ROWE
PRICE
Small-Cap
Index
Fund
(Unaudited)
For
a
share
outstanding
throughout
each
period
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
Investor
Class
6
Months
.
Ended
6/30/23
..
Year
..
..
Ended
.
12/31/22
12/31/21
12/31/20
12/31/19
12/31/18
Ratios/Supplemental
Data
Total
return
(2)(3)
8
.01
%
(
20
.58
)
%
14
.32
%
19
.88
%
25
.31
%
(
11
.25
)
%
Ratios
to
average
net
assets:
(2)
Gross
expenses
before
waivers/
payments
by
Price
Associates
0
.38
%
(4)
4
.93
%
1
.87
%
4
.10
%
3
.93
%
3
.67
%
Net
expenses
after
waivers/payments
by
Price
Associates
0
.29
%
(4)
0
.29
%
0
.34
%
0
.35
%
0
.34
%
0
.34
%
Net
investment
income
1
.25
%
(4)
1
.26
%
0
.70
%
1
.00
%
1
.25
%
1
.26
%
Portfolio
turnover
rate
18
.4
%
22
.0
%
29
.0
%
21
.1
%
17
.3
%
25
.9
%
Net
assets,
end
of
period
(in
thousands)
$166
$154
$197
$6,726
$5,794
$4,839
0
%
0
%
0
%
0
%
0
%
0
%
(1)
Per
share
amounts
calculated
using
average
shares
outstanding
method.
(2)
See
Note
7
for
details
of
expense-related
arrangements
with
Price
Associates.
(3)
Total
return
reflects
the
rate
that
an
investor
would
have
earned
on
an
investment
in
the
fund
during
each
period,
assuming
reinvestment
of
all
distributions,
and
payment
of
no
redemption
or
account
fees,
if
applicable.
Total
return
is
not
annualized
for
periods
less
than
one
year.
(4)
Annualized
T.
ROWE
PRICE
Small-Cap
Index
Fund
(Unaudited)
For
a
share
outstanding
throughout
each
period
I
Class
6
Months
.
Ended
6/30/23
..
Year
..
..
Ended
.
12/31/22
12/31/21
12/31/20
12/31/19
12/31/18
NET
ASSET
VALUE
Beginning
of
period
$
12
.54
$
16
.01
$
14
.21
$
12
.23
$
10
.19
$
12
.48
Investment
activities
Net
investment
income
(1)(2)
0
.09
0
.19
0
.18
0
.13
0
.16
0
.18
Net
realized
and
unrealized
gain/loss
0
.92
(
3
.46
)
1
.89
2
.30
2
.44
(
1
.49
)
Total
from
investment
activities
1
.01
(
3
.27
)
2
.07
2
.43
2
.60
(
1
.31
)
Distributions
Net
investment
income
—
(
0
.18
)
(
0
.13
)
(
0
.12
)
(
0
.15
)
(
0
.18
)
Net
realized
gain
—
(
0
.02
)
(
0
.14
)
(
0
.33
)
(
0
.41
)
(
0
.80
)
Total
distributions
—
(
0
.20
)
(
0
.27
)
(
0
.45
)
(
0
.56
)
(
0
.98
)
NET
ASSET
VALUE
End
of
period
$
13
.55
$
12
.54
$
16
.01
$
14
.21
$
12
.23
$
10
.19
T.
ROWE
PRICE
Small-Cap
Index
Fund
(Unaudited)
For
a
share
outstanding
throughout
each
period
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
I
Class
6
Months
.
Ended
6/30/23
..
Year
..
..
Ended
.
12/31/22
12/31/21
12/31/20
12/31/19
12/31/18
Ratios/Supplemental
Data
Total
return
(2)(3)
8
.05
%
(
20
.48
)
%
14
.63
%
20
.00
%
25
.60
%
(
11
.11
)
%
Ratios
to
average
net
assets:
(2)
Gross
expenses
before
waivers/
payments
by
Price
Associates
0
.39
%
(4)
0
.42
%
0
.65
%
3
.93
%
3
.71
%
3
.51
%
Net
expenses
after
waivers/payments
by
Price
Associates
0
.14
%
(4)
0
.14
%
0
.17
%
0
.20
%
0
.19
%
0
.19
%
Net
investment
income
1
.41
%
(4)
1
.43
%
1
.12
%
1
.15
%
1
.40
%
1
.41
%
Portfolio
turnover
rate
18
.4
%
22
.0
%
29
.0
%
21
.1
%
17
.3
%
25
.9
%
Net
assets,
end
of
period
(in
thousands)
$96,596
$85,393
$90,212
$355
$306
$255
0
%
0
%
0
%
0
%
0
%
0
%
(1)
Per
share
amounts
calculated
using
average
shares
outstanding
method.
(2)
See
Note
7
for
details
of
expense-related
arrangements
with
Price
Associates.
(3)
Total
return
reflects
the
rate
that
an
investor
would
have
earned
on
an
investment
in
the
fund
during
each
period,
assuming
reinvestment
of
all
distributions,
and
payment
of
no
redemption
or
account
fees,
if
applicable.
Total
return
is
not
annualized
for
periods
less
than
one
year.
(4)
Annualized
T.
ROWE
PRICE
Small-Cap
Index
Fund
(Unaudited)
For
a
share
outstanding
throughout
each
period
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
Z
Class
(1)
6
Months
.
Ended
6/30/23
..
Year
..
..
Ended
.
3/16/20
(1)
Through
12/31/20
12/31/22
12/31/21
NET
ASSET
VALUE
Beginning
of
period
$
12
.53
$
15
.99
$
14
.20
$
7
.59
Investment
activities
Net
investment
income
(2)(3)
0
.10
0
.22
0
.23
0
.11
Net
realized
and
unrealized
gain/loss
0
.92
(
3
.47
)
1
.85
6
.95
Total
from
investment
activities
1
.02
(
3
.25
)
2
.08
7
.06
Distributions
Net
investment
income
—
(
0
.19
)
(
0
.15
)
(
0
.12
)
Net
realized
gain
—
(
0
.02
)
(
0
.14
)
(
0
.33
)
Total
distributions
—
(
0
.21
)
(
0
.29
)
(
0
.45
)
NET
ASSET
VALUE
End
of
period
$
13
.55
$
12
.53
$
15
.99
$
14
.20
Ratios/Supplemental
Data
Total
return
(3)(4)
8
.14
%
(
20
.35
)
%
14
.71
%
93
.22
%
Ratios
to
average
net
assets:
(3)
Gross
expenses
before
waivers/payments
by
Price
Associates
0
.35
%
(5)
0
.38
%
0
.72
%
3
.86
%
(5)
Net
expenses
after
waivers/payments
by
Price
Associates
0
.00
%
(5)
0
.00
%
0
.01
%
0
.01
%
(5)
Net
investment
income
1
.60
%
(5)
1
.67
%
1
.40
%
1
.30
%
(5)
Portfolio
turnover
rate
18
.4
%
22
.0
%
29
.0
%
21
.1
%
Net
assets,
end
of
period
(in
thousands)
$22,900
$11,833
$1,104
$187
0
%
0
%
0
%
0
%
(1)
Inception
date
(2)
Per
share
amounts
calculated
using
average
shares
outstanding
method.
(3)
See
Note
7
for
details
of
expense-related
arrangements
with
Price
Associates.
(4)
Total
return
reflects
the
rate
that
an
investor
would
have
earned
on
an
investment
in
the
fund
during
each
period,
assuming
reinvestment
of
all
distributions,
and
payment
of
no
redemption
or
account
fees,
if
applicable.
Total
return
is
not
annualized
for
periods
less
than
one
year.
(5)
Annualized
T.
ROWE
PRICE
Small-Cap
Index
Fund
June
30,
2023
(Unaudited)
Portfolio
of
Investments
‡
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
COMMON
STOCKS
99.2%
COMMUNICATION
SERVICES
2.4%
Diversified
Telecommunication
Services
0.5%
Anterix (1)
928
29
AST
SpaceMobile
(1)
2,978
14
ATN
International
558
20
Bandwidth,
Class
A
(1)
1,210
17
Charge
Enterprises
(1)(2)
6,885
7
Cogent
Communications
Holdings
2,129
143
Consolidated
Communications
Holdings
(1)
3,676
14
EchoStar,
Class
A
(1)
1,599
28
Globalstar
(1)
33,579
36
IDT,
Class
B
(1)
782
20
Liberty
Latin
America,
Class
A
(1)
1,948
17
Liberty
Latin
America,
Class
C
(1)
7,316
63
Lumen
Technologies
(2)
49,504
112
Ooma
(1)
1,112
17
Radius
Global
Infrastructure,
Class
A
(1)
4,170
62
599
Entertainment
0.4%
Cinemark
Holdings
(1)
5,479
90
IMAX
(1)
2,309
39
Liberty
Braves,
Class
A
(1)
483
20
Liberty
Braves,
Class
C
(1)
1,868
74
Lions
Gate
Entertainment,
Class
A
(1)
2,766
24
Lions
Gate
Entertainment,
Class
B
(1)
5,767
48
Loop
Media
(1)
1,798
4
Madison
Square
Garden
Entertainment
(1)
2,123
71
Marcus
(2)
1,150
17
Playstudios
(1)
4,370
22
Reservoir
Media
(1)
1,089
7
Sphere
Entertainment
(1)
1,267
35
Vivid
Seats,
Class
A
(1)
1,347
11
462
Interactive
Media
&
Services
0.7%
Bumble,
Class
A
(1)
5,047
85
Cargurus
(1)
4,804
109
Cars.com
(1)
3,260
65
DHI
Group
(1)
2,329
9
Eventbrite,
Class
A
(1)
3,726
35
EverQuote,
Class
A
(1)
886
6
fuboTV
(1)(2)
9,613
20
Grindr
(1)
2,018
11
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Liberty
TripAdvisor
Holdings,
Class
B
(1)
25
1
MediaAlpha,
Class
A
(1)
1,343
14
Nextdoor
Holdings
(1)
7,152
23
Outbrain
(1)(2)
2,009
10
QuinStreet
(1)
2,584
23
Shutterstock
1,201
58
System1
(1)
1,221
5
TrueCar
(1)
4,394
10
Vimeo
(1)
7,693
32
Yelp
(1)
3,351
122
Ziff
Davis
(1)
2,338
164
ZipRecruiter,
Class
A
(1)(2)
3,426
61
863
Media
0.7%
Advantage
Solutions
(1)(2)
4,268
10
AMC
Networks,
Class
A
(1)
1,515
18
Boston
Omaha,
Class
A
(1)
1,178
22
Cardlytics
(1)(2)
1,632
10
Clear
Channel
Outdoor
Holdings
(1)(2)
18,670
26
Daily
Journal
(1)
68
20
Emerald
Holding
(1)
766
3
Entravision
Communications,
Class
A
3,110
14
EW
Scripps,
Class
A
(1)
3,017
28
Gambling.com
Group
(1)
513
5
Gannett
(1)
7,440
17
Gray
Television
4,182
33
iHeartMedia,
Class
A
(1)
5,048
18
Integral
Ad
Science
Holding
(1)
1,909
34
John
Wiley
&
Sons,
Class
A
2,125
72
Magnite
(1)
6,582
90
PubMatic,
Class
A
(1)
2,149
39
Quotient
Technology
(1)
4,493
17
Scholastic
1,466
57
Sinclair
1,728
24
Stagwell
(1)
5,316
38
TechTarget
(1)
1,338
42
TEGNA
11,130
181
Thryv
Holdings
(1)
1,522
37
Townsquare
Media,
Class
A
575
7
Urban
One
(1)
316
2
Urban
One,
Class
D
(1)
458
3
WideOpenWest
(1)
2,554
22
889
Wireless
Telecommunication
Services
0.1%
Gogo (1)
3,257
55
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Shenandoah
Telecommunications
2,438
47
Spok
Holdings
874
12
Telephone
&
Data
Systems
4,972
41
155
Total
Communication
Services
2,968
CONSUMER
DISCRETIONARY
10.5%
Automobile
Components
1.5%
Adient (1)
4,698
180
American
Axle
&
Manufacturing
Holdings
(1)
5,730
47
Cooper-Standard
Holdings
(1)
832
12
Dana
6,410
109
Dorman
Products
(1)
1,312
103
Fox
Factory
Holding
(1)
2,118
230
Gentherm
(1)
1,644
93
Goodyear
Tire
&
Rubber
(1)
13,980
191
Holley
(1)(2)
2,778
11
LCI
Industries
1,217
154
Luminar
Technologies
(1)(2)
13,375
92
Modine
Manufacturing
(1)
2,536
84
Patrick
Industries
1,054
84
Solid
Power
(1)(2)
7,606
19
Standard
Motor
Products
1,064
40
Stoneridge
(1)
1,263
24
Visteon
(1)
1,383
199
XPEL
(1)
1,110
94
1,766
Automobiles
0.1%
Fisker (1)(2)
9,636
54
Livewire
Group
(1)
543
7
Winnebago
Industries
1,458
97
Workhorse
Group
(1)(2)
7,137
6
164
Broadline
Retail
0.1%
Big
Lots
1,511
13
ContextLogic,
Class
A
(1)(2)
1,193
8
Dillard's,
Class
A
(2)
177
58
Qurate
Retail,
Class
B
(1)(2)
65
—
79
Distributors
0.0%
Weyco
Group
255
7
7
Diversified
Consumer
Services
1.0%
2U (1)
3,668
15
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Adtalem
Global
Education
(1)
2,265
78
Carriage
Services
673
22
Chegg
(1)
6,073
54
Clear
Secure,
Class
A
(2)
4,095
95
Coursera
(1)
6,396
83
Duolingo
(1)
1,425
204
European
Wax
Center,
Class
A
(1)(2)
1,678
31
Frontdoor
(1)
4,099
131
Graham
Holdings,
Class
B
183
105
Laureate
Education
6,647
80
Lincoln
Educational
Services
(1)
1,166
8
Nerdy
(1)
2,944
12
OneSpaWorld
Holdings
(1)
3,585
43
Perdoceo
Education
(1)
3,340
41
Rover
Group
(1)
4,533
22
Strategic
Education
1,102
75
Stride
(1)
2,116
79
Udemy
(1)
4,214
45
Universal
Technical
Institute
(1)
1,768
12
WW
International
(1)
2,623
18
1,253
Hotels,
Restaurants
&
Leisure
2.3%
Accel
Entertainment
(1)
2,787
29
Bally's
(1)
1,449
23
Biglari
Holdings,
Class
B
(1)
42
8
BJ's
Restaurants
(1)
1,141
36
Bloomin'
Brands
4,330
117
Bluegreen
Vacations
Holding
507
18
Bowlero
(1)
1,503
18
Brinker
International
(1)
2,189
80
Carrols
Restaurant
Group
(1)
1,810
9
Century
Casinos
(1)
1,278
9
Cheesecake
Factory
2,375
82
Chuy's
Holdings
(1)
880
36
Cracker
Barrel
Old
Country
Store
(2)
1,098
102
Dave
&
Buster's
Entertainment
(1)
2,130
95
Denny's
(1)
2,707
33
Dine
Brands
Global
774
45
El
Pollo
Loco
Holdings
1,408
12
Everi
Holdings
(1)
4,210
61
Fiesta
Restaurant
Group
(1)
872
7
First
Watch
Restaurant
Group
(1)
761
13
Full
House
Resorts
(1)
1,535
10
Global
Business
Travel
Group
I
(1)
1,588
12
Golden
Entertainment
(1)
991
41
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Hilton
Grand
Vacations
(1)
4,041
184
Inspired
Entertainment
(1)
1,058
16
International
Game
Technology
5,394
172
Jack
in
the
Box
1,034
101
Krispy
Kreme
(2)
4,301
63
Kura
Sushi
USA,
Class
A
(1)(2)
286
27
Life
Time
Group
Holdings
(1)
2,192
43
Light
&
Wonder
(1)
4,528
311
Lindblad
Expeditions
Holdings
(1)(2)
1,649
18
Monarch
Casino
&
Resort
657
46
Mondee
Holdings
(1)
2,231
20
Nathan's
Famous
138
11
Noodles
(1)
1,793
6
ONE
Group
Hospitality
(1)(2)
1,075
8
Papa
John's
International
1,714
127
PlayAGS
(1)
1,817
10
Portillo's,
Class
A
(1)
2,086
47
Potbelly
(1)
1,284
11
RCI
Hospitality
Holdings
408
31
Red
Robin
Gourmet
Burgers
(1)
781
11
Red
Rock
Resorts,
Class
A
2,339
109
Rush
Street
Interactive
(1)
2,864
9
Sabre
(1)(2)
16,350
52
SeaWorld
Entertainment
(1)
1,969
110
Shake
Shack,
Class
A
(1)
1,856
144
Six
Flags
Entertainment
(1)
3,548
92
Super
Group
SGHC
(1)
6,704
20
Sweetgreen,
Class
A
(1)
4,745
61
Target
Hospitality
(1)(2)
1,480
20
Xponential
Fitness,
Class
A
(1)
968
17
2,793
Household
Durables
2.1%
Beazer
Homes
USA
(1)
1,427
40
Cavco
Industries
(1)
432
128
Century
Communities
1,401
107
Cricut,
Class
A
(2)
2,350
29
Dream
Finders
Homes,
Class
A
(1)(2)
1,191
29
Ethan
Allen
Interiors
1,135
32
GoPro,
Class
A
(1)
6,162
26
Green
Brick
Partners
(1)
1,333
76
Helen
of
Troy
(1)
1,198
129
Hooker
Furnishings
541
10
Hovnanian
Enterprises,
Class
A
(1)
232
23
Installed
Building
Products
1,178
165
iRobot
(1)
1,340
61
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
KB
Home
3,680
190
Landsea
Homes
(1)
660
6
La-Z-Boy
2,171
62
Legacy
Housing
(1)
446
10
LGI
Homes
(1)
1,035
140
Lovesac
(1)(2)
719
19
M/I
Homes
(1)
1,327
116
MDC
Holdings
2,888
135
Meritage
Homes
1,807
257
Purple
Innovation
(2)
3,083
9
Skyline
Champion
(1)
2,661
174
Snap
One
Holdings
(1)(2)
906
11
Sonos
(1)
6,330
103
Taylor
Morrison
Home
(1)
5,219
255
Traeger
(1)
1,896
8
Tri
Pointe
Homes
(1)
4,942
162
United
Homes
Group
(1)
302
3
Vizio
Holding,
Class
A
(1)
3,772
26
VOXX
International
(1)
684
9
2,550
Leisure
Products
0.5%
Acushnet
Holdings
1,533
84
AMMO
(1)(2)
4,778
10
Clarus
(2)
1,418
13
Escalade
491
7
Funko,
Class
A
(1)(2)
1,625
18
JAKKS
Pacific
(1)
356
7
Johnson
Outdoors,
Class
A
257
16
Latham
Group
(1)
2,282
8
Malibu
Boats,
Class
A
(1)
1,014
59
Marine
Products
364
6
MasterCraft
Boat
Holdings
(1)
877
27
Smith
&
Wesson
Brands
2,313
30
Solo
Brands,
Class
A
(1)
1,131
6
Sturm
Ruger
877
46
Topgolf
Callaway
Brands
(1)
7,083
141
Vista
Outdoor
(1)
2,813
78
556
Specialty
Retail
2.4%
1-800-Flowers.com,
Class
A
(1)
1,185
9
Aaron's
1,532
22
Abercrombie
&
Fitch,
Class
A
(1)
2,397
90
Academy
Sports
&
Outdoors
3,723
201
American
Eagle
Outfitters
8,976
106
America's
Car-Mart
(1)
284
28
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Arko
4,171
33
Asbury
Automotive
Group
(1)
1,076
259
BARK
(1)(2)
4,980
7
Big
5
Sporting
Goods
1,138
10
Boot
Barn
Holdings
(1)
1,463
124
Buckle
1,480
51
Build-A-Bear
Workshop
616
13
Caleres
1,677
40
Camping
World
Holdings,
Class
A
2,054
62
CarParts.com
(1)
2,465
10
Carvana
(1)
4,713
122
Cato,
Class
A
939
8
Chico's
FAS
(1)
6,154
33
Children's
Place
(1)(2)
572
13
Designer
Brands,
Class
A
2,569
26
Destination
XL
Group
(1)
3,112
15
Duluth
Holdings,
Class
B
(1)
769
5
Envela
(1)
372
3
EVgo
(1)
3,411
14
Foot
Locker
(2)
4,088
111
Franchise
Group
1,117
32
Genesco
(1)
557
14
Group
1
Automotive
692
179
GrowGeneration
(1)
3,062
10
Guess?
1,474
29
Haverty
Furniture
745
22
Hibbett
599
22
J
Jill
(1)
225
5
Lands'
End
(1)
654
5
Lazydays
Holdings
(1)
624
7
Leslie's
(1)
8,724
82
MarineMax
(1)
1,076
37
Monro
1,519
62
National
Vision
Holdings
(1)
3,834
93
ODP
(1)
1,684
79
OneWater
Marine,
Class
A
(1)(2)
548
20
Overstock.com
(1)
2,215
72
PetMed
Express
(2)
1,064
15
Rent
the
Runway,
Class
A
(1)
2,348
5
Revolve
Group
(1)(2)
2,040
33
Sally
Beauty
Holdings
(1)
5,275
65
Shoe
Carnival
870
20
Signet
Jewelers
2,191
143
Sleep
Number
(1)
1,020
28
Sonic
Automotive,
Class
A
772
37
Sportsman's
Warehouse
Holdings
(1)
1,736
10
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Stitch
Fix,
Class
A
(1)
4,355
17
ThredUp,
Class
A
(1)(2)
3,827
9
Tile
Shop
Holdings
(1)
1,392
8
Tilly's,
Class
A
(1)
986
7
Torrid
Holdings
(1)
655
2
Upbound
Group
2,707
84
Urban
Outfitters
(1)
3,123
103
Warby
Parker,
Class
A
(1)
4,121
48
Winmark
139
46
Zumiez
(1)
823
14
2,879
Textiles,
Apparel
&
Luxury
Goods
0.5%
Allbirds,
Class
A
(1)
4,246
5
Figs,
Class
A
(1)
6,289
52
Fossil
Group
(1)
2,213
6
G-III
Apparel
Group
(1)
2,125
41
Hanesbrands
(2)
17,290
78
Kontoor
Brands
2,768
117
Movado
Group
783
21
Oxford
Industries
734
72
Rocky
Brands
300
6
Steven
Madden
3,698
121
Vera
Bradley
(1)
1,291
8
Wolverine
World
Wide
3,781
56
583
Total
Consumer
Discretionary
12,630
CONSUMER
STAPLES
3.4%
Beverages
0.4%
Coca-Cola
Consolidated
238
152
Duckhorn
Portfolio
(1)
2,181
28
MGP
Ingredients
779
83
National
Beverage
(1)
1,185
57
Primo
Water
7,815
98
Vita
Coco
(1)
1,398
38
Zevia
PBC,
Class
A
(1)
1,229
5
461
Consumer
Staples
Distribution
&
Retail
0.5%
Andersons
1,577
73
Chefs'
Warehouse
(1)
1,761
63
Fresh
Market,
EC
(1)(3)
110
—
HF
Foods
Group
(1)(2)
1,913
9
Ingles
Markets,
Class
A
701
58
Natural
Grocers
by
Vitamin
Cottage
381
5
PriceSmart
1,288
95
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
SpartanNash
1,679
38
Sprouts
Farmers
Market
(1)(2)
5,144
189
United
Natural
Foods
(1)
2,925
57
Village
Super
Market,
Class
A
369
8
Weis
Markets
802
52
647
Food
Products
1.2%
Alico (2)
344
9
B&G
Foods
3,541
49
Benson
Hill
(1)(2)
8,931
12
Beyond
Meat
(1)(2)
3,070
40
BRC,
Class
A
(1)(2)
1,831
9
Calavo
Growers
879
25
Cal-Maine
Foods
1,882
85
Dole
3,514
48
Forafric
Global
(1)
256
3
Fresh
Del
Monte
Produce
1,673
43
Hain
Celestial
Group
(1)
4,360
55
Hostess
Brands
(1)
6,539
166
J
&
J
Snack
Foods
753
119
John
B.
Sanfilippo
&
Son
446
52
Lancaster
Colony
969
195
Limoneira
860
13
Mission
Produce
(1)(2)
2,381
29
Seneca
Foods,
Class
A
(1)
228
7
Simply
Good
Foods
(1)
4,510
165
Sovos
Brands
(1)
1,927
38
SunOpta
(1)
4,917
33
TreeHouse
Foods
(1)
2,561
129
Utz
Brands
3,537
58
Vital
Farms
(1)
1,447
17
Westrock
Coffee
(1)
1,396
15
1,414
Household
Products
0.3%
Central
Garden
&
Pet
(1)
507
20
Central
Garden
&
Pet,
Class
A
(1)
1,975
72
Energizer
Holdings
3,535
119
Oil-Dri
241
14
WD-40
676
127
352
Personal
Care
Products
0.9%
Beauty
Health
(1)(2)
4,295
36
BellRing
Brands
(1)
6,605
242
Edgewell
Personal
Care
2,514
104
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
elf
Beauty
(1)
2,491
284
Herbalife
(1)
4,827
64
Inter
Parfums
902
122
Medifast
533
49
Nature's
Sunshine
Products
(1)
709
10
Nu
Skin
Enterprises,
Class
A
2,458
81
Thorne
HealthTech
(1)
604
3
USANA
Health
Sciences
(1)
565
35
Waldencast,
Class
A
(1)(2)
986
8
1,038
Tobacco
0.1%
Ispire
Technology
(1)
133
1
Turning
Point
Brands
853
21
Universal
1,190
59
Vector
Group
7,244
93
174
Total
Consumer
Staples
4,086
ENERGY
6.7%
Energy
Equipment
&
Services
2.3%
Archrock
6,832
70
Atlas
Energy
Solutions,
Class
A
801
14
Borr
Drilling
(1)
11,240
85
Bristow
Group
(1)
1,201
34
Cactus,
Class
A
3,182
135
ChampionX
9,868
306
Core
Laboratories
2,304
54
Diamond
Offshore
Drilling
(1)
5,085
72
DMC
Global
(1)
959
17
Dril-Quip
(1)
1,664
39
Expro
Group
(1)
4,402
78
Forum
Energy
Technologies
(1)
483
12
Helix
Energy
Solutions
Group
(1)
7,213
53
Helmerich
&
Payne
4,991
177
KLX
Energy
Services
Holdings
(1)
625
6
Liberty
Energy,
Class
A
8,398
112
Mammoth
Energy
Services
(1)
1,149
6
Nabors
Industries
(1)
460
43
Newpark
Resources
(1)
3,976
21
NexTier
Oilfield
Solutions
(1)
9,556
85
Noble
(1)(2)
5,342
221
Oceaneering
International
(1)
5,009
94
Oil
States
International
(1)
3,015
22
Patterson-UTI
Energy
10,184
122
ProFrac
Holding,
Class
A
(1)(2)
1,253
14
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
ProPetro
Holding
(1)
4,845
40
Ranger
Energy
Services
(1)
765
8
RPC
4,179
30
SEACOR
Marine
Holdings
(1)
1,184
13
Seadrill
(1)
2,482
102
Select
Water
Solutions,
Class
A
4,184
34
Solaris
Oilfield
Infrastructure,
Class
A
1,567
13
TETRA
Technologies
(1)
6,395
22
Tidewater
(1)
2,364
131
U.S.
Silica
Holdings
(1)
3,703
45
Valaris
(1)
3,020
190
Weatherford
International
(1)
3,533
235
2,755
Oil,
Gas
&
Consumable
Fuels
4.4%
Amplify
Energy
(1)
1,720
12
Arch
Resources
899
101
Ardmore
Shipping
1,991
25
Berry
3,629
25
California
Resources
3,569
162
Callon
Petroleum
(1)
3,010
106
Centrus
Energy,
Class
A
(1)
613
20
Chord
Energy
2,076
319
Civitas
Resources
3,436
238
Clean
Energy
Fuels
(1)
8,365
41
CNX
Resources
(1)
8,019
142
Comstock
Resources
(2)
4,537
53
CONSOL
Energy
1,703
115
Crescent
Energy,
Class
A
(2)
2,003
21
CVR
Energy
1,460
44
Delek
U.S.
Holdings
3,265
78
Denbury
(1)
2,476
214
DHT
Holdings
6,873
59
Dorian
LPG
1,613
41
Earthstone
Energy,
Class
A
(1)
2,807
40
Empire
Petroleum
(1)
439
4
Encore
Energy
(1)
6,961
17
Energy
Fuels
(1)(2)
7,719
48
Enviva
1,540
17
Equitrans
Midstream
21,684
207
Evolution
Petroleum
1,552
13
Excelerate
Energy,
Class
A
899
18
FLEX
LNG
1,497
46
Gevo
(1)(2)
11,490
17
Golar
LNG
5,005
101
Granite
Ridge
Resources
1,280
8
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Green
Plains
(1)
2,857
92
Gulfport
Energy
(1)
493
52
Hallador
Energy
(1)
1,125
10
HighPeak
Energy
(2)
547
6
International
Seaways
1,995
76
Kinetik
Holdings
827
29
Kosmos
Energy
(1)
22,434
134
Magnolia
Oil
&
Gas,
Class
A
9,104
190
Matador
Resources
5,619
294
Murphy
Oil
7,371
282
NACCO
Industries,
Class
A
175
6
NextDecade
(1)(2)
1,791
15
Nordic
American
Tankers
10,422
38
Northern
Oil
&
Gas
(2)
3,690
127
Overseas
Shipholding
Group,
Class
A
(1)
2,839
12
Par
Pacific
Holdings
(1)
2,714
72
PBF
Energy,
Class
A
5,774
236
Peabody
Energy
6,120
133
Permian
Resources
12,486
137
PrimeEnergy
Resources
(1)
36
3
REX
American
Resources
(1)
771
27
Riley
Exploration
Permian
435
16
Ring
Energy
(1)(2)
6,059
10
SandRidge
Energy
1,594
24
Scorpio
Tankers
2,588
122
SFL
5,734
54
SilverBow
Resources
(1)(2)
868
25
Sitio
Royalties,
Class
A
3,964
104
SM
Energy
5,932
188
Talos
Energy
(1)
5,492
76
Teekay
(1)
3,233
20
Teekay
Tankers,
Class
A
1,174
45
Tellurian
(1)(2)
26,852
38
Uranium
Energy
(1)(2)
18,397
63
VAALCO
Energy
5,420
20
Verde
Clean
Fuels
(1)
210
1
Vertex
Energy
(1)
3,370
21
Vital
Energy
(1)
825
37
Vitesse
Energy
1,231
28
W&T
Offshore
(1)
4,758
18
World
Kinect
3,039
63
5,296
Total
Energy
8,051
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
FINANCIALS
15.0%
Banks
7.8%
1st
Source
799
33
ACNB
438
15
Amalgamated
Financial
817
13
Amerant
Bancorp
1,382
24
American
National
Bankshares
542
16
Ameris
Bancorp
3,280
112
Ames
National
425
8
Arrow
Financial
741
15
Associated
Banc-Corp
7,454
121
Atlantic
Union
Bankshares
3,714
96
Axos
Financial
(1)
2,798
110
Banc
of
California
2,606
30
BancFirst
1,083
100
Bancorp
(1)
2,675
87
Bank
First
(2)
459
38
Bank
of
Hawaii
1,927
79
Bank
of
Marin
Bancorp
822
15
Bank
of
NT
Butterfield
&
Son
2,505
69
Bank7
185
5
BankUnited
3,689
79
Bankwell
Financial
Group
245
6
Banner
1,676
73
Bar
Harbor
Bankshares
760
19
BayCom
539
9
BCB
Bancorp
803
9
Berkshire
Hills
Bancorp
2,181
45
Blue
Foundry
Bancorp
(1)
1,068
11
Blue
Ridge
Bankshares
744
7
Bridgewater
Bancshares
(1)
1,034
10
Brookline
Bancorp
4,215
37
Burke
&
Herbert
Financial
Services
317
20
Business
First
Bancshares
1,212
18
Byline
Bancorp
1,262
23
C&F
Financial
162
9
Cadence
Bank
9,051
178
Cambridge
Bancorp
(2)
389
21
Camden
National
691
21
Capital
Bancorp
461
8
Capital
City
Bank
Group
690
21
Capitol
Federal
Financial
6,268
39
Capstar
Financial
Holdings
1,066
13
Carter
Bankshares
(1)
1,223
18
Cathay
General
Bancorp
3,457
111
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Central
Pacific
Financial
1,351
21
Central
Valley
Community
Bancorp
493
8
Chemung
Financial
173
7
ChoiceOne
Financial
Services
344
8
Citizens
&
Northern
787
15
Citizens
Financial
Services
214
16
City
Holding
752
68
Civista
Bancshares
708
12
CNB
Financial
1,037
18
Coastal
Financial
(1)
544
20
Codorus
Valley
Bancorp
473
9
Colony
Bankcorp
707
7
Columbia
Financial
(1)
1,595
28
Community
Bank
System
2,643
124
Community
Financial
253
7
Community
Trust
Bancorp
749
27
ConnectOne
Bancorp
1,850
31
CrossFirst
Bankshares
(1)
2,263
23
Customers
Bancorp
(1)
1,511
46
CVB
Financial
6,535
87
Dime
Community
Bancshares
1,735
31
Eagle
Bancorp
1,535
32
Eastern
Bankshares
7,724
95
Enterprise
Bancorp
462
13
Enterprise
Financial
Services
1,791
70
Equity
Bancshares,
Class
A
775
18
Esquire
Financial
Holdings
350
16
ESSA
Bancorp
429
6
Evans
Bancorp
259
6
Farmers
&
Merchants
Bancorp
(2)
682
15
Farmers
National
Banc
1,779
22
FB
Financial
1,770
50
Fidelity
D&D
Bancorp
230
11
Financial
Institutions
692
11
First
Bancorp
487
12
First
Bancorp
North
Carolina
1,992
59
First
BanCorp
Puerto
Rico
8,937
109
First
Bancshares
1,491
39
First
Bank
New
Jersey
855
9
First
Busey
2,554
51
First
Business
Financial
Services
424
13
First
Commonwealth
Financial
5,005
63
First
Community
364
6
First
Community
Bankshares
876
26
First
Financial
568
18
First
Financial
Bancorp
4,694
96
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
First
Financial
Bankshares
6,474
184
First
Foundation
2,382
9
First
Interstate
BancSystem,
Class
A
4,058
97
First
Merchants
2,916
82
First
Mid
Bancshares
975
24
First
of
Long
Island
1,014
12
First
Western
Financial
(1)
376
7
Five
Star
Bancorp
631
14
Flushing
Financial
1,447
18
FS
Bancorp
327
10
Fulton
Financial
8,046
96
FVCBankcorp
(1)
856
9
German
American
Bancorp
1,413
38
Glacier
Bancorp
5,541
173
Great
Southern
Bancorp
449
23
Greene
County
Bancorp
310
9
Guaranty
Bancshares
415
11
Hancock
Whitney
4,267
164
Hanmi
Financial
1,447
22
HarborOne
Bancorp
2,248
20
HBT
Financial
678
12
Heartland
Financial
USA
2,116
59
Heritage
Commerce
2,986
25
Heritage
Financial
1,757
28
Hilltop
Holdings
2,293
72
Hingham
Institution
For
Savings
(2)
72
15
Home
Bancorp
367
12
Home
BancShares
9,468
216
HomeStreet
809
5
HomeTrust
Bancshares
800
17
Hope
Bancorp
5,582
47
Horizon
Bancorp
2,150
22
Independent
Bank,
(MA)
2,236
100
Independent
Bank,
(MI)
1,038
18
Independent
Bank
Group
1,762
61
International
Bancshares
2,654
117
John
Marshall
Bancorp
(2)
611
12
Kearny
Financial
2,373
17
Lakeland
Bancorp
3,090
41
Lakeland
Financial
1,226
59
LCNB
520
8
Live
Oak
Bancshares
1,582
42
Luther
Burbank
788
7
Macatawa
Bank
1,308
12
MainStreet
Bancshares
343
8
Mercantile
Bank
785
22
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Metrocity
Bankshares
959
17
Metropolitan
Bank
Holding
(1)
538
19
Mid
Penn
Bancorp
742
16
Middlefield
Banc
386
10
Midland
States
Bancorp
1,078
21
MidWestOne
Financial
Group
653
14
MVB
Financial
559
12
National
Bank
Holdings,
Class
A
1,809
53
National
Bankshares
284
8
NBT
Bancorp
2,056
65
Nicolet
Bankshares
636
43
Northeast
Bank
388
16
Northeast
Community
Bancorp
(2)
658
10
Northfield
Bancorp
2,052
23
Northrim
BanCorp
270
11
Northwest
Bancshares
6,260
66
Norwood
Financial
(2)
363
11
Oak
Valley
Bancorp
331
8
OceanFirst
Financial
2,868
45
OFG
Bancorp
2,333
61
Old
National
Bancorp
14,546
203
Old
Second
Bancorp
2,198
29
Orange
County
Bancorp
251
9
Origin
Bancorp
1,434
42
Orrstown
Financial
Services
449
9
Pacific
Premier
Bancorp
4,651
96
PacWest
Bancorp
5,892
48
Park
National
703
72
Parke
Bancorp
557
9
Pathward
Financial
1,372
64
PCB
Bancorp
502
7
Peapack-Gladstone
Financial
868
24
Penns
Woods
Bancorp
337
8
Peoples
Bancorp
1,664
44
Peoples
Financial
Services
365
16
Pioneer
Bancorp
(1)
489
4
Plumas
Bancorp
269
10
Preferred
Bank
645
35
Premier
Financial
1,768
28
Primis
Financial
1,043
9
Princeton
Bancorp
250
7
Provident
Financial
Services
3,656
60
QCR
Holdings
796
33
RBB
Bancorp
744
9
Red
River
Bancshares
232
11
Renasant
2,688
70
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Republic
Bancorp,
Class
A
455
19
S&T
Bancorp
1,948
53
Sandy
Spring
Bancorp
2,181
49
Seacoast
Banking
4,138
91
ServisFirst
Bancshares
(2)
2,510
103
Shore
Bancshares
890
10
Sierra
Bancorp
639
11
Simmons
First
National,
Class
A
6,202
107
SmartFinancial
796
17
South
Plains
Financial
603
14
Southern
First
Bancshares
(1)
363
9
Southern
Missouri
Bancorp
428
16
Southern
States
Bancshares
369
8
Southside
Bancshares
1,477
39
SouthState
3,777
249
Stellar
Bancorp
2,391
55
Sterling
Bancorp
(1)
972
5
Stock
Yards
Bancorp
1,332
60
Summit
Financial
Group
562
12
Texas
Capital
Bancshares
(1)
2,394
123
Third
Coast
Bancshares
(1)
684
11
Timberland
Bancorp
371
9
Tompkins
Financial
687
38
Towne
Bank
3,460
80
TriCo
Bancshares
1,556
52
Triumph
Financial
(1)
1,130
69
TrustCo
Bank
895
26
Trustmark
3,011
64
UMB
Financial
2,178
133
United
Bankshares
6,497
193
United
Community
Banks
5,678
142
Unity
Bancorp
390
9
Univest
Financial
1,438
26
USCB
Financial
Holdings
(1)
573
6
Valley
National
Bancorp
21,447
166
Veritex
Holdings
2,604
47
Virginia
National
Bankshares
232
7
Washington
Federal
3,266
87
Washington
Trust
Bancorp
869
23
WesBanco
2,816
72
West
BanCorp
754
14
Westamerica
BanCorp
1,276
49
WSFS
Financial
3,036
115
9,319
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Capital
Markets
1.4%
AlTi
Global
(1)
1,037
8
Artisan
Partners
Asset
Management,
Class
A
3,020
119
AssetMark
Financial
Holdings
(1)
1,079
32
Avantax
(1)
1,933
43
B.
Riley
Financial
918
42
Bakkt
Holdings
(1)(2)
2,594
3
BGC
Partners,
Class
A
15,519
69
Brightsphere
Investment
Group
1,596
33
Cohen
&
Steers
1,278
74
Diamond
Hill
Investment
Group
138
24
Donnelley
Financial
Solutions
(1)
1,241
57
Focus
Financial
Partners,
Class
A
(1)
2,893
152
Forge
Global
Holdings
(1)
5,406
13
GCM
Grosvenor,
Class
A
2,095
16
Hamilton
Lane,
Class
A
1,817
145
MarketWise
1,695
3
Moelis,
Class
A
(2)
3,281
149
Open
Lending,
Class
A
(1)
4,802
51
P10,
Class
A
2,113
24
Patria
Investments,
Class
A
2,671
38
Perella
Weinberg
Partners
2,092
17
Piper
Sandler
861
111
PJT
Partners,
Class
A
1,198
83
Sculptor
Capital
Management
(2)
1,125
10
Silvercrest
Asset
Management
Group,
Class
A
420
9
StepStone
Group,
Class
A
2,708
67
StoneX
Group
(1)
872
73
Value
Line
33
2
Victory
Capital
Holdings,
Class
A
1,361
43
Virtus
Investment
Partners
341
67
WisdomTree
6,690
46
1,623
Consumer
Finance
0.8%
Atlanticus
Holdings
(1)
227
10
Bread
Financial
Holdings
2,520
79
Consumer
Portfolio
Services
(1)
441
5
Encore
Capital
Group
(1)
1,134
55
Enova
International
(1)
1,501
80
FirstCash
Holdings
1,872
175
Green
Dot,
Class
A
(1)
2,269
43
LendingClub
(1)
5,332
52
LendingTree
(1)
523
12
Navient
4,546
84
Nelnet,
Class
A
717
69
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
NerdWallet,
Class
A
(1)
1,680
16
OppFi
(1)
515
1
PRA
Group
(1)
1,879
43
PROG
Holdings
(1)
2,275
73
Regional
Management
410
12
Upstart
Holdings
(1)(2)
3,539
127
World
Acceptance
(1)(2)
197
26
962
Financial
Services
2.1%
Acacia
Research
(1)
1,872
8
Alerus
Financial
894
16
A-Mark
Precious
Metals
925
35
AvidXchange
Holdings
(1)
7,455
77
Banco
Latinoamericano
de
Comercio
Exterior,
Class
E
1,386
31
Cannae
Holdings
(1)
3,532
71
Cantaloupe
(1)
2,698
21
Cass
Information
Systems
695
27
Compass
Diversified
Holdings
(2)
3,103
67
Enact
Holdings
1,524
38
Essent
Group
5,254
246
EVERTEC
3,210
118
Federal
Agricultural
Mortgage,
Class
C
445
64
Finance
of
America,
Class
A
(1)
2,796
5
Flywire
(1)
4,719
147
Home
Point
Capital
(1)
258
1
I3
Verticals,
Class
A
(1)
1,163
27
International
Money
Express
(1)
1,511
37
Jackson
Financial,
Class
A
3,998
122
Marqeta,
Class
A
(1)
24,070
117
Merchants
Bancorp
802
21
Mr
Cooper
Group
(1)
3,311
168
NewtekOne
(2)
1,145
18
NMI
Holdings,
Class
A
(1)
4,086
106
Ocwen
Financial
(1)
316
9
Pagseguro
Digital,
Class
A
(1)
9,753
92
Payoneer
Global
(1)
13,017
63
Paysafe
(1)
1,593
16
Paysign
(1)
1,613
4
PennyMac
Financial
Services
1,254
88
Priority
Technology
Holdings
(1)
793
3
Radian
Group
7,813
198
Remitly
Global
(1)
4,143
78
Repay
Holdings
(1)
4,180
33
Security
National
Financial,
Class
A
(1)
587
5
StoneCo,
Class
A
(1)
14,455
184
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
SWK
Holdings
(1)
136
2
Velocity
Financial
(1)
369
4
Walker
&
Dunlop
1,562
124
Waterstone
Financial
994
14
2,505
Insurance
1.7%
Ambac
Financial
Group
(1)
2,142
31
American
Equity
Investment
Life
Holding
3,861
201
AMERISAFE
956
51
Argo
Group
International
Holdings
1,570
47
BRP
Group,
Class
A
(1)
2,993
74
CNO
Financial
Group
5,620
133
Crawford,
Class
A
819
9
Donegal
Group,
Class
A
783
11
eHealth
(1)
1,153
9
Employers
Holdings
1,331
50
Enstar
Group
(1)
587
143
F&G
Annuities
&
Life
(2)
921
23
Genworth
Financial,
Class
A
(1)
23,855
119
GoHealth,
Class
A
(1)
194
4
Goosehead
Insurance,
Class
A
(1)
1,059
67
Greenlight
Capital
Re,
Class
A
(1)
1,375
15
HCI
Group
314
20
Hippo
Holdings
(1)(2)
516
9
Horace
Mann
Educators
2,025
60
Investors
Title
67
10
James
River
Group
Holdings
1,811
33
Kingsway
Financial
Services
(1)
526
4
Lemonade
(1)(2)
2,490
42
Maiden
Holdings
(1)
4,468
9
MBIA
(1)
2,352
20
Mercury
General
1,329
40
National
Western
Life
Group,
Class
A
114
47
NI
Holdings
(1)
350
5
Oscar
Health,
Class
A
(1)
7,594
61
Palomar
Holdings
(1)
1,195
69
ProAssurance
2,640
40
Safety
Insurance
Group
711
51
Selective
Insurance
Group
2,986
287
Selectquote
(1)
6,324
12
SiriusPoint
(1)
4,571
41
Skyward
Specialty
Insurance
Group
(1)
543
14
Stewart
Information
Services
1,320
54
Tiptree
1,247
19
Trupanion
(1)(2)
1,959
39
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
United
Fire
Group
1,017
23
United
Insurance
Holdings
(1)
968
4
Universal
Insurance
Holdings
1,236
19
2,019
Mortgage
Real
Estate
Investment
Trusts
1.2%
AFC
Gamma,
REIT
835
10
Angel
Oak
Mortgage
REIT,
REIT
(2)
499
4
Apollo
Commercial
Real
Estate
Finance,
REIT
7,085
80
Arbor
Realty
Trust,
REIT
8,818
131
Ares
Commercial
Real
Estate,
REIT
(2)
2,639
27
ARMOUR
Residential
REIT,
REIT
(2)
9,639
51
Blackstone
Mortgage
Trust,
Class
A,
REIT
(2)
8,560
178
BrightSpire
Capital,
REIT
6,331
43
Chicago
Atlantic
Real
Estate
Finance,
REIT
806
12
Chimera
Investment,
REIT
(2)
11,647
67
Claros
Mortgage
Trust
(2)
4,596
52
Dynex
Capital,
REIT
2,651
33
Ellington
Financial,
REIT
(2)
3,232
45
Franklin
BSP
Realty
Trust,
REIT
4,139
59
Granite
Point
Mortgage
Trust,
REIT
2,597
14
Hannon
Armstrong
Sustainable
Infrastructure
Capital,
REIT
(2)
5,080
127
Invesco
Mortgage
Capital,
REIT
(2)
2,087
24
KKR
Real
Estate
Finance
Trust,
REIT
2,836
35
Ladder
Capital,
REIT
5,562
60
MFA
Financial,
REIT
5,023
57
New
York
Mortgage
Trust,
REIT
4,577
45
Nexpoint
Real
Estate
Finance,
REIT
347
5
Orchid
Island
Capital,
REIT
(2)
1,911
20
PennyMac
Mortgage
Investment
Trust,
REIT
4,356
59
Ready
Capital,
REIT
(2)
7,868
89
Redwood
Trust,
REIT
5,343
34
TPG
RE
Finance
Trust,
REIT
3,520
26
Two
Harbors
Investment,
REIT
4,845
67
1,454
Total
Financials
17,882
HEALTH
CARE
16.6%
Biotechnology
7.5%
2seventy
bio
(1)
2,469
25
4D
Molecular
Therapeutics
(1)
1,509
27
89bio
(1)
3,035
58
Aadi
Bioscience
(1)
902
6
ACADIA
Pharmaceuticals
(1)
5,946
142
Acrivon
Therapeutics
(1)
389
5
Actinium
Pharmaceuticals
(1)
1,280
9
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Adicet
Bio
(1)
1,559
4
ADMA
Biologics
(1)
10,329
38
Aduro
Biotech,
CVR
(1)(3)
35
—
Aerovate
Therapeutics
(1)
541
9
Agenus
(1)
16,850
27
Agios
Pharmaceuticals
(1)
2,772
79
Akero
Therapeutics
(1)
2,206
103
Aldeyra
Therapeutics
(1)
2,290
19
Alector
(1)
2,944
18
Alkermes
(1)
8,226
257
Allakos
(1)
3,269
14
Allogene
Therapeutics
(1)
3,892
19
Allovir
(1)(2)
2,165
7
Alpine
Immune
Sciences
(1)
1,561
16
Altimmune
(1)
2,433
9
ALX
Oncology
Holdings
(1)
1,167
9
Amicus
Therapeutics
(1)
13,919
175
AnaptysBio
(1)
1,035
21
Anavex
Life
Sciences
(1)(2)
3,558
29
Anika
Therapeutics
(1)
707
18
Annexon
(1)
2,248
8
Arbutus
Biopharma
(1)(2)
5,900
14
Arcellx
(1)
1,864
59
Arcturus
Therapeutics
Holdings
(1)
1,153
33
Arcus
Biosciences
(1)
2,643
54
Arcutis
Biotherapeutics
(1)(2)
2,527
24
Ardelyx
(1)
10,461
35
Arrowhead
Pharmaceuticals
(1)
5,045
180
Astria
Therapeutics
(1)
1,257
10
Atara
Biotherapeutics
(1)
4,298
7
Aura
Biosciences
(1)
1,414
17
Aurinia
Pharmaceuticals
(1)(2)
6,602
64
Avid
Bioservices
(1)
2,988
42
Avidity
Biosciences
(1)
3,496
39
Avita
Medical
(1)
1,236
21
Beam
Therapeutics
(1)(2)
3,355
107
BioAtla
(1)
2,179
7
BioCryst
Pharmaceuticals
(1)
9,470
67
Biohaven
(1)
2,860
68
Biomea
Fusion
(1)
976
21
BioVie
(1)
162
1
Bioxcel
Therapeutics
(1)
955
6
Bluebird
Bio
(1)(2)
5,167
17
Blueprint
Medicines
(1)
3,018
191
Bridgebio
Pharma
(1)(2)
5,622
97
Cabaletta
Bio
(1)
1,258
16
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
CareDx
(1)(2)
2,458
21
Caribou
Biosciences
(1)
2,553
11
Carisma
Therapeutics
1,312
12
Catalyst
Pharmaceuticals
(1)
4,718
63
Celcuity
(1)
849
9
Celldex
Therapeutics
(1)
2,317
79
Century
Therapeutics
(1)
814
3
Cerevel
Therapeutics
Holdings
(1)(2)
3,038
97
Chinook
Therapeutics
(1)
2,848
109
Cogent
Biosciences
(1)
3,387
40
Coherus
Biosciences
(1)(2)
3,968
17
Compass
Therapeutics
(1)
4,487
14
Crinetics
Pharmaceuticals
(1)
2,674
48
Cue
Biopharma
(1)
1,704
6
Cullinan
Oncology
(1)
1,373
15
Cymabay
Therapeutics
(1)
4,818
53
Cytokinetics
(1)(2)
4,572
149
Day
One
Biopharmaceuticals
(1)(2)
2,419
29
Deciphera
Pharmaceuticals
(1)
2,553
36
Denali
Therapeutics
(1)
5,865
173
Design
Therapeutics
(1)
1,785
11
Disc
Medicine
(1)(2)
381
17
Dynavax
Technologies
(1)
6,363
82
Dyne
Therapeutics
(1)
2,089
23
Eagle
Pharmaceuticals
(1)
506
10
Editas
Medicine
(1)
3,301
27
Emergent
BioSolutions
(1)
2,412
18
Enanta
Pharmaceuticals
(1)
943
20
Entrada
Therapeutics
(1)(2)
1,052
16
EQRx
(1)
15,674
29
Erasca
(1)
4,087
11
Fate
Therapeutics
(1)
4,232
20
Fennec
Pharmaceuticals
(1)
894
8
FibroGen
(1)
4,480
12
Foghorn
Therapeutics
(1)(2)
1,084
8
Genelux
(1)
137
4
Generation
Bio
(1)
2,312
13
Geron
(1)
24,449
78
Graphite
Bio
(1)
1,386
4
Gritstone
bio
(1)
4,319
8
GTx,
CVR
(1)(3)
1
—
Halozyme
Therapeutics
(1)
6,579
237
Heron
Therapeutics
(1)
4,863
6
HilleVax
(1)
1,061
18
Humacyte
(1)
2,937
8
Icosavax
(1)(2)
1,353
13
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Ideaya
Biosciences
(1)
2,666
63
IGM
Biosciences
(1)(2)
662
6
Immuneering,
Class
A
(1)
998
10
ImmunityBio
(1)
5,421
15
ImmunoGen
(1)
12,035
227
Immunovant
(1)
2,650
50
Inhibrx
(1)(2)
1,697
44
Inozyme
Pharma
(1)
1,667
9
Insmed
(1)
6,470
137
Intellia
Therapeutics
(1)
4,378
179
Intercept
Pharmaceuticals
(1)(2)
1,116
12
Iovance
Biotherapeutics
(1)
10,213
72
Ironwood
Pharmaceuticals
(1)
6,767
72
iTeos
Therapeutics
(1)
1,241
16
IVERIC
bio
(1)
6,847
269
Janux
Therapeutics
(1)(2)
855
10
KalVista
Pharmaceuticals
(1)
1,285
12
Karyopharm
Therapeutics
(1)
5,572
10
Keros
Therapeutics
(1)
1,106
44
Kezar
Life
Sciences
(1)
3,636
9
Kiniksa
Pharmaceuticals,
Class
A
(1)
1,517
21
Kodiak
Sciences
(1)
1,676
12
Krystal
Biotech
(1)
1,063
125
Kura
Oncology
(1)
3,222
34
Kymera
Therapeutics
(1)(2)
1,851
43
Larimar
Therapeutics
(1)
1,266
4
Lexicon
Pharmaceuticals
(1)(2)
4,244
10
Ligand
Pharmaceuticals
(1)
818
59
Lineage
Cell
Therapeutics
(1)
6,351
9
Lyell
Immunopharma
(1)(2)
8,297
26
MacroGenics
(1)
2,842
15
Madrigal
Pharmaceuticals
(1)
668
154
MannKind
(1)
12,713
52
MeiraGTx
Holdings
(1)
1,609
11
Merrimack
Pharmaceuticals
(1)
516
6
Mersana
Therapeutics
(1)
5,174
17
MiMedx
Group
(1)
5,582
37
Mineralys
Therapeutics
(1)
705
12
Mirum
Pharmaceuticals
(1)
1,313
34
Monte
Rosa
Therapeutics
(1)
1,375
9
Morphic
Holding
(1)
1,493
86
Myriad
Genetics
(1)
3,969
92
Nkarta
(1)
1,725
4
Novavax
(1)(2)
4,276
32
Nurix
Therapeutics
(1)
2,245
22
Nuvalent,
Class
A
(1)
1,177
50
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Nuvectis
Pharma
(1)
337
5
Ocean
Biomedical
(1)
425
3
Olema
Pharmaceuticals
(1)
1,320
12
Omega
Therapeutics
(1)
1,199
7
Organogenesis
Holdings
(1)
3,770
13
ORIC
Pharmaceuticals
(1)
1,919
15
Outlook
Therapeutics
(1)(2)
6,975
12
Ovid
therapeutics
(1)
2,933
10
PDS
Biotechnology
(1)
1,376
7
PepGen
(1)
762
7
PMV
Pharmaceuticals
(1)
2,018
13
Point
Biopharma
Global
(1)
4,473
41
Poseida
Therapeutics
(1)
3,347
6
Precigen
(1)(2)
6,215
7
Prelude
Therapeutics
(1)
486
2
Prime
Medicine
(1)
1,943
28
ProKidney
(1)
3,030
34
Protagonist
Therapeutics
(1)
2,661
73
Protalix
BioTherapeutics
(1)
2,769
6
Prothena
(1)
2,034
139
PTC
Therapeutics
(1)
3,480
142
Rallybio
(1)
1,503
9
RAPT
Therapeutics
(1)
1,492
28
Recursion
Pharmaceuticals,
Class
A
(1)
6,742
50
REGENXBIO
(1)
1,995
40
Relay
Therapeutics
(1)
4,458
56
Reneo
Pharmaceuticals
(1)
478
3
Replimune
Group
(1)
2,001
46
REVOLUTION
Medicines
(1)
4,978
133
Rhythm
Pharmaceuticals
(1)
2,522
42
Rigel
Pharmaceuticals
(1)
8,050
10
Rocket
Pharmaceuticals
(1)
2,793
55
Sage
Therapeutics
(1)
2,628
124
Sana
Biotechnology
(1)(2)
4,727
28
Sangamo
Therapeutics
(1)
7,676
10
Savara
(1)
3,751
12
Scholar
Rock
Holding
(1)
1,395
11
Selecta
Biosciences
(1)
5,723
6
Seres
Therapeutics
(1)(2)
4,778
23
Silverback
Therapeutics
(1)
1,195
8
SpringWorks
Therapeutics
(1)
2,860
75
Stoke
Therapeutics
(1)
1,376
15
Summit
Therapeutics
(1)
5,696
14
Sutro
Biopharma
(1)
3,120
15
Syndax
Pharmaceuticals
(1)
3,234
68
Tango
Therapeutics
(1)
2,135
7
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Tenaya
Therapeutics
(1)
2,240
13
TG
Therapeutics
(1)
6,812
169
Tobira
Therapeutics,
CVR
(1)(3)
25
—
Travere
Therapeutics
(1)(2)
3,576
55
Twist
Bioscience
(1)(2)
2,795
57
Tyra
Biosciences
(1)
706
12
UroGen
Pharma
(1)
962
10
Vanda
Pharmaceuticals
(1)
2,850
19
Vaxcyte
(1)
4,559
228
Vaxxinity,
Class
A
(1)
2,104
5
Vera
Therapeutics
(1)
1,661
27
Veracyte
(1)
3,585
91
Vericel
(1)
2,340
88
Verve
Therapeutics
(1)
2,489
47
Vigil
Neuroscience
(1)
791
7
Viking
Therapeutics
(1)
4,719
76
Vir
Biotechnology
(1)
4,111
101
Viridian
Therapeutics
(1)
2,071
49
Vor
BioPharma
(1)
1,854
6
Voyager
Therapeutics
(1)
1,560
18
X4
Pharmaceuticals
(1)
6,056
12
Xencor
(1)
2,894
72
XOMA
(1)
360
7
Y-mAbs
Therapeutics
(1)
1,864
13
Zentalis
Pharmaceuticals
(1)
2,411
68
Zura
Bio
(1)
374
3
Zymeworks
(1)
2,622
23
9,021
Health
Care
Equipment
&
Supplies
3.4%
Accuray (1)
4,585
18
Alphatec
Holdings
(1)
3,801
68
AngioDynamics
(1)
1,909
20
Artivion
(1)
1,988
34
AtriCure
(1)
2,318
114
Atrion
68
38
Avanos
Medical
(1)
2,266
58
Axogen
(1)
1,969
18
Axonics
(1)
2,429
123
Beyond
Air
(1)(2)
1,263
5
Butterfly
Network
(1)(2)
6,939
16
Cerus
(1)
8,333
21
ClearPoint
Neuro
(1)
1,130
8
CONMED
1,522
207
Cutera
(1)(2)
807
12
CVRx
(1)
548
8
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Embecta
2,820
61
Glaukos
(1)
2,306
164
Haemonetics
(1)
2,489
212
Inari
Medical
(1)
2,545
148
Inmode
(1)
3,804
142
Inogen
(1)
1,210
14
Integer
Holdings
(1)
1,631
145
iRadimed
375
18
iRhythm
Technologies
(1)
1,510
158
KORU
Medical
Systems
(1)
1,723
6
Lantheus
Holdings
(1)
3,372
283
LeMaitre
Vascular
986
66
LivaNova
(1)
2,696
139
Merit
Medical
Systems
(1)
2,820
236
Nano-X
Imaging
(1)(2)
2,258
35
Neogen
(1)
10,808
235
Nevro
(1)
1,756
45
NuVasive
(1)
2,594
108
Omnicell
(1)
2,210
163
OraSure
Technologies
(1)
3,823
19
Orchestra
BioMed
Holdings
(1)
205
1
Orthofix
Medical
(1)
1,743
31
OrthoPediatrics
(1)
763
33
Outset
Medical
(1)
2,440
53
Paragon
28
(1)
2,157
38
PROCEPT
BioRobotics
(1)
1,772
63
Pulmonx
(1)
1,825
24
Pulse
Biosciences
(1)
796
6
RxSight
(1)
1,330
38
Sanara
Medtech
(1)
186
7
Semler
Scientific
(1)
246
6
SI-BONE
(1)
1,678
45
Sight
Sciences
(1)
1,171
10
Silk
Road
Medical
(1)(2)
1,895
62
STAAR
Surgical
(1)
2,417
127
Surmodics
(1)
712
22
Tactile
Systems
Technology
(1)
1,143
29
Tela
Bio
(1)
781
8
TransMedics
Group
(1)
1,557
131
Treace
Medical
Concepts
(1)
2,220
57
UFP
Technologies
(1)
349
68
Utah
Medical
Products
167
16
Varex
Imaging
(1)
1,910
45
Vicarious
Surgical
(1)
3,603
7
ViewRay
(1)
6,600
2
Zimvie
(1)
1,297
15
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Zynex
(1)
948
9
4,118
Health
Care
Providers
&
Services
2.8%
23andMe
Holding,
Class
A
(1)
12,610
22
Accolade
(1)
3,317
45
AdaptHealth
(1)
3,633
44
Addus
HomeCare
(1)
782
73
Agiliti
(1)
1,412
23
AirSculpt
Technologies
(2)
534
5
Alignment
Healthcare
(1)
4,180
24
AMN
Healthcare
Services
(1)
2,014
220
Apollo
Medical
Holdings
(1)
2,104
66
Aveanna
Healthcare
Holdings
(1)(2)
1,861
3
Brookdale
Senior
Living
(1)
8,375
35
Cano
Health
(1)(2)
11,746
16
CareMax
(1)(2)
3,690
11
Castle
Biosciences
(1)
1,154
16
Community
Health
Systems
(1)
5,955
26
CorVel
(1)
435
84
Cross
Country
Healthcare
(1)
1,724
48
DocGo
(1)(2)
4,077
38
Enhabit
(1)
2,474
28
Ensign
Group
2,705
258
Fulgent
Genetics
(1)
1,051
39
Guardant
Health
(1)
5,518
198
HealthEquity
(1)
4,169
263
Hims
&
Hers
Health
(1)
6,119
58
InfuSystem
Holdings
(1)
895
9
Innovage
Holding
(1)
1,006
8
Invitae
(1)(2)
13,196
15
Joint
(1)
709
10
LifeStance
Health
Group
(1)
5,211
48
ModivCare
(1)
644
29
National
HealthCare
637
39
National
Research,
Class
A
698
30
NeoGenomics
(1)
6,242
100
OPKO
Health
(1)
19,574
42
Option
Care
Health
(1)
8,435
274
Owens
&
Minor
(1)
3,708
71
P3
Health
Partners
(1)
1,963
6
Patterson
4,377
146
Pediatrix
Medical
Group
(1)
4,081
58
Pennant
Group
(1)
1,445
18
PetIQ
(1)
1,325
20
Privia
Health
Group
(1)
3,322
87
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Progyny
(1)
3,856
152
Quipt
Home
Medical
(1)
1,985
11
RadNet
(1)
2,452
80
Select
Medical
Holdings
5,162
164
Surgery
Partners
(1)(2)
3,315
149
U.S.
Physical
Therapy
632
77
Viemed
Healthcare
(1)
1,678
16
3,302
Health
Care
Technology
0.6%
American
Well,
Class
A
(1)
12,177
26
Computer
Programs
&
Systems
(1)
734
18
Definitive
Healthcare
(1)(2)
2,219
24
Evolent
Health,
Class
A
(1)
5,470
166
Health
Catalyst
(1)
2,765
35
HealthStream
1,236
30
Multiplan
(1)
19,226
41
NextGen
Healthcare
(1)
2,697
44
OptimizeRx
(1)
781
11
Phreesia
(1)
2,517
78
Schrodinger
(1)(2)
2,676
134
Sharecare
(1)
15,174
26
Simulations
Plus
773
33
Veradigm
(1)
5,306
67
733
Life
Sciences
Tools
&
Services
0.4%
Adaptive
Biotechnologies
(1)
5,500
37
Akoya
Biosciences
(1)
811
6
BioLife
Solutions
(1)
1,708
38
Codexis
(1)
3,544
10
CryoPort
(1)(2)
2,189
38
Cytek
Biosciences
(1)
5,986
51
Harvard
Bioscience
(1)
1,925
10
MaxCyte
(1)
4,528
21
Mesa
Laboratories
251
32
NanoString
Technologies
(1)
2,233
9
Nautilus
Biotechnology
(1)
2,213
8
Omniab
(1)
4,581
23
Omniab,
Earn
Out
Shares
$12.50
(1)
233
—
Omniab,
Earn
Out
Shares
$15.00
(1)
233
—
Pacific
Biosciences
of
California
(1)
12,394
165
Quanterix
(1)
1,743
39
Quantum-Si
(1)
4,935
9
Seer
(1)
2,774
12
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
SomaLogic
(1)(2)
7,178
17
525
Pharmaceuticals
1.9%
Aclaris
Therapeutics
(1)
3,443
36
Amneal
Pharmaceuticals
(1)
6,265
19
Amphastar
Pharmaceuticals
(1)
1,867
107
Amylyx
Pharmaceuticals
(1)
2,484
54
ANI
Pharmaceuticals
(1)
621
33
Arvinas
(1)
2,429
60
Assertio
Holdings
(1)
2,714
15
Atea
Pharmaceuticals
(1)
3,987
15
Axsome
Therapeutics
(1)(2)
1,618
116
Biote,
Class
A
(1)
692
5
Bright
Green
(1)
2,960
3
Cara
Therapeutics
(1)(2)
1,985
6
Cassava
Sciences
(1)(2)
1,953
48
Citius
Pharmaceuticals
(1)
6,053
7
Collegium
Pharmaceutical
(1)
1,746
38
Corcept
Therapeutics
(1)
3,939
88
CorMedix
(1)
2,195
9
DICE
Therapeutics
(1)
1,902
88
Edgewise
Therapeutics
(1)
2,206
17
Enliven
Therapeutics
(1)
1,147
23
Evolus
(1)
2,071
15
Eyenovia
(1)
1,365
3
EyePoint
Pharmaceuticals
(1)
1,378
12
Harmony
Biosciences
Holdings
(1)
1,620
57
Harrow
Health
(1)
1,278
24
Ikena
Oncology
(1)
1,048
7
Innoviva
(1)
3,132
40
Intra-Cellular
Therapies
(1)
4,643
294
Liquidia
(1)
2,278
18
Longboard
Pharmaceuticals
(1)
767
6
Marinus
Pharmaceuticals
(1)
2,447
27
NGM
Biopharmaceuticals
(1)
1,762
5
Nuvation
Bio
(1)
7,340
13
Ocular
Therapeutix
(1)
3,848
20
Omeros
(1)
2,992
16
Optinose
(1)
3,601
4
Pacira
BioSciences
(1)
2,244
90
Phathom
Pharmaceuticals
(1)(2)
1,222
18
Phibro
Animal
Health,
Class
A
944
13
Pliant
Therapeutics
(1)(2)
2,774
50
Prestige
Consumer
Healthcare
(1)
2,463
146
Rain
Therapeutics
(1)
833
1
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Reata
Pharmaceuticals,
Class
A
(1)
1,402
143
Revance
Therapeutics
(1)
4,105
104
Scilex
Holding
(1)
2,710
14
scPharmaceuticals
(1)
1,419
14
SIGA
Technologies
(2)
2,473
13
Supernus
Pharmaceuticals
(1)
2,425
73
Taro
Pharmaceutical
Industries
(1)
402
15
Tarsus
Pharmaceuticals
(1)
1,158
21
Terns
Pharmaceuticals
(1)
2,105
18
Theravance
Biopharma
(1)(2)
3,220
33
Theseus
Pharmaceuticals
(1)
1,029
10
Third
Harmonic
Bio
(1)
1,021
5
Trevi
Therapeutics
(1)
2,053
5
Ventyx
Biosciences
(1)
2,297
75
Verrica
Pharmaceuticals
(1)
1,029
6
WaVe
Life
Sciences
(1)
2,908
11
Xeris
Biopharma
Holdings
(1)
6,516
17
Zevra
Therapeutics
(1)
1,706
9
2,252
Total
Health
Care
19,951
INDUSTRIALS
&
BUSINESS
SERVICES
17.3%
Aerospace
&
Defense
1.0%
AAR (1)
1,695
98
Aerojet
Rocketdyne
Holdings
(1)
3,959
217
AeroVironment
(1)
1,248
128
AerSale
(1)
1,194
18
Archer
Aviation,
Class
A
(1)(2)
7,349
30
Astronics
(1)
1,320
26
Cadre
Holdings
921
20
Ducommun
(1)
572
25
Eve
Holding
(1)(2)
891
9
Kaman
1,420
35
Leonardo
DRS
(1)(2)
2,480
43
Moog,
Class
A
1,415
153
National
Presto
Industries
262
19
Park
Aerospace
917
13
Parsons
(1)
2,027
98
Redwire
(1)(2)
739
2
Rocket
Lab
USA
(1)
13,691
82
Terran
Orbital
(1)(2)
4,181
6
Triumph
Group
(1)
3,141
39
V2X
(1)
575
28
Virgin
Galactic
Holdings
(1)
12,404
48
1,137
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Air
Freight
&
Logistics
0.3%
Air
Transport
Services
Group
(1)
2,887
55
Forward
Air
1,284
136
Hub
Group,
Class
A
(1)
1,632
131
Radiant
Logistics
(1)
1,958
13
335
Building
Products
1.7%
AAON
2,242
212
American
Woodmark
(1)
820
63
Apogee
Enterprises
1,092
52
AZZ
1,215
53
CSW
Industrials
758
126
Gibraltar
Industries
(1)
1,522
96
Griffon
2,188
88
Insteel
Industries
897
28
Janus
International
Group
(1)
4,205
45
JELD-WEN
Holding
(1)
4,183
73
Masonite
International
(1)
1,103
113
Masterbrand
(1)
6,371
74
PGT
Innovations
(1)
2,862
83
Quanex
Building
Products
1,638
44
Resideo
Technologies
(1)
7,284
129
Simpson
Manufacturing
2,128
295
UFP
Industries
2,978
289
Zurn
Elkay
Water
Solutions
7,346
197
2,060
Commercial
Services
&
Supplies
1.5%
ABM
Industries
3,251
139
ACCO
Brands
4,420
23
ACV
Auctions,
Class
A
(1)
6,241
108
Aris
Water
Solution,
Class
A
(2)
1,471
15
BrightView
Holdings
(1)
2,176
16
Brink's
2,294
156
Casella
Waste
Systems,
Class
A
(1)
2,762
250
CECO
Environmental
(1)
1,460
19
Cimpress
(1)
869
52
CompX
International
61
1
CoreCivic
(1)
5,588
52
Deluxe
2,144
37
Ennis
1,270
26
Enviri
(1)
3,809
38
GEO
Group
(1)(2)
5,845
42
Healthcare
Services
Group
3,626
54
Heritage-Crystal
Clean
(1)
794
30
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
HNI
2,298
65
Interface
2,766
24
LanzaTech
Global
(1)(2)
1,016
7
Li-Cycle
Holdings
(1)(2)
6,775
38
Liquidity
Services
(1)
1,239
20
Matthews
International,
Class
A
1,496
64
MillerKnoll
3,794
56
Montrose
Environmental
Group
(1)
1,371
58
NL
Industries
295
2
OPENLANE
(1)
5,385
82
Performant
Financial
(1)
3,310
9
Pitney
Bowes
8,874
31
Quad/Graphics
(1)
1,332
5
SP
Plus
(1)
988
39
Steelcase,
Class
A
4,302
33
UniFirst
741
115
Viad
(1)
1,019
27
VSE
515
28
1,761
Construction
&
Engineering
1.5%
Ameresco,
Class
A
(1)
1,605
78
API
Group
(1)
10,376
283
Arcosa
2,410
183
Argan
639
25
Bowman
Consulting
Group
(1)
495
16
Comfort
Systems
USA
1,750
287
Concrete
Pumping
Holdings
(1)
1,321
11
Construction
Partners,
Class
A
(1)
2,009
63
Dycom
Industries
(1)
1,415
161
Fluor
(1)
7,080
210
Granite
Construction
2,166
86
Great
Lakes
Dredge
&
Dock
(1)
3,300
27
IES
Holdings
(1)
402
23
INNOVATE
(1)
2,271
4
Limbach
Holdings
(1)
452
11
MYR
Group
(1)
812
112
Northwest
Pipe
(1)
448
14
Primoris
Services
2,628
80
Southland
Holdings
(1)
184
1
Sterling
Infrastructure
(1)
1,476
82
Tutor
Perini
(1)
2,111
15
1,772
Electrical
Equipment
1.6%
Allied
Motion
Technologies
703
28
Amprius
Technologies
(1)
263
2
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Array
Technologies
(1)
7,525
170
Atkore
(1)
1,964
306
Babcock
&
Wilcox
Enterprises
(1)
3,074
18
Blink
Charging
(1)(2)
2,268
14
Bloom
Energy,
Class
A
(1)(2)
9,462
155
Dragonfly
Energy
Holdings
(1)
747
1
Encore
Wire
833
155
Energy
Vault
Holdings
(1)(2)
4,951
14
EnerSys
2,048
222
Enovix
(1)(2)
6,724
121
Eos
Energy
Enterprises
(1)
5,290
23
ESS
Tech
(1)(2)
4,482
7
Fluence
Energy
(1)(2)
1,932
52
FTC
Solar
(1)(2)
3,249
10
FuelCell
Energy
(1)(2)
19,823
43
GrafTech
International
9,611
48
LSI
Industries
1,286
16
NEXTracker,
Class
A
(1)
1,502
60
NuScale
Power
(1)
2,633
18
Powell
Industries
444
27
Preformed
Line
Products
117
18
SES
AI
(1)
6,142
15
Shoals
Technologies
Group,
Class
A
(1)
8,511
218
SKYX
Platforms
(1)
2,799
7
Stem
(1)(2)
7,243
41
SunPower
(1)(2)
4,318
42
Thermon
Group
Holdings
(1)
1,639
44
TPI
Composites
(1)
2,089
22
Vicor
(1)
1,079
58
1,975
Ground
Transportation
0.5%
ArcBest
1,200
119
Covenant
Logistics
Group,
Class
A
456
20
Daseke
(1)
1,978
14
FTAI
Infrastructure
4,866
18
Heartland
Express
2,326
38
Marten
Transport
2,917
63
PAM
Transportation
Services
(1)
339
9
RXO
(1)
5,708
129
TuSimple
Holdings,
Class
A
(1)
8,537
14
U.S.
Xpress
Enterprises,
Class
A
(1)
1,522
9
Universal
Logistics
Holdings
360
10
Werner
Enterprises
3,135
139
582
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Industrial
Conglomerates
0.0%
Brookfield
Business,
Class
A
1,244
23
23
Machinery
3.8%
374Water (1)
2,918
7
3D
Systems
(1)
6,195
62
Alamo
Group
504
93
Albany
International,
Class
A
1,543
144
Astec
Industries
1,131
51
Barnes
Group
2,429
102
Berkshire
Grey
(1)
3,348
5
Blue
Bird
(1)
884
20
Chart
Industries
(1)
2,093
334
CIRCOR
International
(1)
929
52
Columbus
McKinnon
1,384
56
Commercial
Vehicle
Group
(1)
1,580
18
Desktop
Metal,
Class
A
(1)
13,552
24
Douglas
Dynamics
1,092
33
Energy
Recovery
(1)
2,780
78
Enerpac
Tool
Group
2,812
76
EnPro
Industries
1,031
138
ESCO
Technologies
1,277
132
Federal
Signal
2,976
191
Franklin
Electric
2,278
234
Gencor
Industries
(1)
520
8
Gorman-Rupp
1,164
34
Greenbrier
1,566
68
Helios
Technologies
1,614
107
Hillenbrand
3,430
176
Hillman
Solutions
(1)
8,477
76
Hyliion
Holdings
(1)(2)
7,253
12
Hyster-Yale
Materials
Handling
545
30
John
Bean
Technologies
1,581
192
Kadant
574
127
Kennametal
4,032
114
Lindsay
552
66
Luxfer
Holdings
1,384
20
Manitowoc
(1)
1,728
33
Mayville
Engineering
(1)
544
7
Microvast
Holdings
(1)
5,176
8
Miller
Industries
538
19
Mueller
Industries
2,763
241
Mueller
Water
Products,
Class
A
7,725
125
Nikola
(1)(2)
29,159
40
Omega
Flex
165
17
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Park-Ohio
Holdings
413
8
Proterra
(1)(2)
10,350
12
Proto
Labs
(1)
1,344
47
REV
Group
1,675
22
Shyft
Group
1,715
38
SPX
Technologies
(1)
2,172
185
Standex
International
588
83
Tennant
911
74
Terex
3,305
198
Titan
International
(1)
2,651
30
Trinity
Industries
4,076
105
Velo3D
(1)(2)
4,382
9
Wabash
National
2,324
60
Watts
Water
Technologies,
Class
A
1,351
248
4,489
Marine
Transportation
0.3%
Costamare
2,684
26
Eagle
Bulk
Shipping
(2)
673
32
Eneti
1,240
15
Genco
Shipping
&
Trading
2,088
29
Golden
Ocean
Group
6,142
47
Himalaya
Shipping
(1)
1,349
8
Matson
1,750
136
Pangaea
Logistics
Solutions
1,791
12
Safe
Bulkers
3,383
11
316
Passenger
Airlines
0.6%
Allegiant
Travel
(1)
779
98
Blade
Air
Mobility
(1)
3,088
12
Frontier
Group
Holdings
(1)
1,957
19
Hawaiian
Holdings
(1)
2,549
27
JetBlue
Airways
(1)
16,244
144
Joby
Aviation
(1)
13,690
140
SkyWest
(1)
2,373
97
Spirit
Airlines
5,468
94
Sun
Country
Airlines
Holdings
(1)
1,852
42
673
Professional
Services
2.4%
Alight,
Class
A
(1)
19,771
183
ASGN
(1)
2,404
182
Asure
Software
(1)
932
11
Barrett
Business
Services
326
28
BlackSky
Technology
(1)
5,817
13
CBIZ
(1)
2,385
127
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Conduent
(1)
8,708
30
CRA
International
332
34
CSG
Systems
International
1,524
80
ExlService
Holdings
(1)
1,600
242
Exponent
2,512
234
First
Advantage
(1)
2,684
41
FiscalNote
Holdings
(1)
3,065
11
Forrester
Research
(1)
577
17
Franklin
Covey
(1)
586
26
Heidrick
&
Struggles
International
978
26
HireQuest
264
7
HireRight
Holdings
(1)
738
8
Huron
Consulting
Group
(1)
960
82
IBEX
(1)
554
12
ICF
International
931
116
Innodata
(1)
1,241
14
Insperity
1,809
215
Kelly
Services,
Class
A
1,705
30
Kforce
990
62
Korn
Ferry
2,592
128
Legalzoom.com
(1)
5,114
62
Maximus
3,017
255
Mistras
Group
(1)
1,025
8
NV5
Global
(1)
665
74
Planet
Labs
PBC
(1)(2)
9,432
30
Resources
Connection
1,606
25
Skillsoft
(1)(2)
4,003
5
Sterling
Check
(1)(2)
1,085
13
TriNet
Group
(1)
1,870
178
TrueBlue
(1)
1,536
27
TTEC
Holdings
950
32
Upwork
(1)
6,061
57
Verra
Mobility
(1)
6,939
137
Willdan
Group
(1)
598
11
2,873
Trading
Companies
&
Distributors
2.1%
Alta
Equipment
Group
958
17
Applied
Industrial
Technologies
1,915
277
Beacon
Roofing
Supply
(1)
2,428
202
BlueLinx
Holdings
(1)
425
40
Boise
Cascade
1,973
178
Custom
Truck
One
Source
(1)
3,044
21
Distribution
Solutions
Group
(1)
257
13
DXP
Enterprises
(1)
771
28
EVI
Industries
(1)
234
5
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
FTAI
Aviation
4,890
155
GATX
1,763
227
Global
Industrial
673
19
GMS
(1)
2,070
143
H&E
Equipment
Services
1,606
74
Herc
Holdings
1,403
192
Hudson
Technologies
(1)
2,193
21
Karat
Packaging
224
4
McGrath
RentCorp
1,229
114
MRC
Global
(1)
4,110
41
NOW
(1)
5,535
57
Rush
Enterprises,
Class
A
2,065
125
Rush
Enterprises,
Class
B
341
23
Textainer
Group
Holdings
2,131
84
Titan
Machinery
(1)
1,001
30
Transcat
(1)
366
31
Triton
International
2,709
226
Veritiv
647
81
Willis
Lease
Finance
(1)
139
5
Xometry,
Class
A
(1)(2)
1,637
35
2,468
Total
Industrials
&
Business
Services
20,464
INFORMATION
TECHNOLOGY
13.5%
Communications
Equipment
0.8%
ADTRAN
Holdings
3,925
41
Aviat
Networks
(1)
564
19
Calix
(1)
2,903
145
Cambium
Networks
(1)
645
10
Clearfield
(1)(2)
646
31
CommScope
Holding
(1)
10,187
57
Comtech
Telecommunications
1,344
12
Digi
International
(1)
1,742
69
DZS
(1)
992
4
Extreme
Networks
(1)
6,239
163
Harmonic
(1)(2)
5,409
88
Infinera
(1)(2)
9,672
47
KVH
Industries
(1)
923
8
NETGEAR
(1)
1,358
19
NetScout
Systems
(1)
3,396
105
Ribbon
Communications
(1)
4,428
12
Viavi
Solutions
(1)
10,960
124
954
Electronic
Equipment,
Instruments
&
Components
2.8%
908
Devices
(1)
1,198
8
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Advanced
Energy
Industries
1,868
208
Aeva
Technologies
(1)
5,003
6
Akoustis
Technologies
(1)(2)
3,228
10
Arlo
Technologies
(1)
4,356
48
Badger
Meter
1,448
214
Bel
Fuse,
Class
B
515
30
Belden
2,111
202
Benchmark
Electronics
1,750
45
Climb
Global
Solutions
205
10
CTS
1,547
66
Daktronics
(1)
1,922
12
ePlus
(1)
1,305
74
Evolv
Technologies
Holdings
(1)
5,535
33
Fabrinet
(1)
1,824
237
FARO
Technologies
(1)
1,021
17
Insight
Enterprises
(1)
1,425
209
Iteris
(1)
2,103
8
Itron
(1)
2,242
162
Kimball
Electronics
(1)
1,205
33
Knowles
(1)
4,484
81
Lightwave
Logic
(1)(2)
5,627
39
Luna
Innovations
(1)
1,579
14
Methode
Electronics
1,726
58
MicroVision
(1)(2)
8,762
40
Mirion
Technologies
(1)
9,841
83
Napco
Security
Technologies
(2)
1,551
54
nLight
(1)
2,141
33
Novanta
(1)
1,775
327
OSI
Systems
(1)
782
92
PAR
Technology
(1)(2)
1,306
43
PC
Connection
564
25
Plexus
(1)
1,359
134
Presto
Automation
(1)
156
1
Richardson
Electronics
588
10
Rogers
(1)
851
138
Sanmina
(1)
2,837
171
ScanSource
(1)
1,256
37
SmartRent
(1)
9,053
35
Tingo
Group
(1)
6,016
7
TTM
Technologies
(1)
4,987
69
Vishay
Intertechnology
6,361
187
Vishay
Precision
Group
(1)
631
23
Vuzix
(1)(2)
2,977
15
3,348
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
IT
Services
0.6%
BigBear.ai
Holdings
(1)(2)
1,319
3
BigCommerce
Holdings,
Series
1
(1)
3,337
33
Brightcove
(1)
2,274
9
CXApp
(1)
95
1
DigitalOcean
Holdings
(1)(2)
3,113
125
Fastly,
Class
A
(1)
5,824
92
Grid
Dynamics
Holdings
(1)
2,725
25
Hackett
Group
1,243
28
Information
Services
Group
1,530
8
Kratos
Defense
&
Security
Solutions
(1)
6,158
88
Perficient
(1)
1,691
141
Rackspace
Technology
(1)
4,030
11
Squarespace,
Class
A
(1)
2,194
69
Thoughtworks
Holding
(1)(2)
4,547
35
Tucows,
Class
A
(1)(2)
500
14
Unisys
(1)
3,079
12
694
Semiconductors
&
Semiconductor
Equipment
3.3%
ACM
Research,
Class
A
(1)
2,397
31
Aehr
Test
Systems
(1)
1,271
52
Alpha
&
Omega
Semiconductor
(1)
1,149
38
Ambarella
(1)
1,833
153
Amkor
Technology
5,093
151
Atomera
(1)(2)
1,131
10
Axcelis
Technologies
(1)
1,613
296
CEVA
(1)
1,177
30
Cohu
(1)
2,303
96
Credo
Technology
Group
Holding
(1)
4,820
84
Diodes
(1)
2,242
207
FormFactor
(1)
3,821
131
Ichor
Holdings
(1)
1,401
52
Impinj
(1)(2)
1,130
101
indie
Semiconductor,
Class
A
(1)
6,768
64
inTEST
(1)
528
14
Kulicke
&
Soffa
Industries
2,730
162
MACOM
Technology
Solutions
Holdings
(1)
2,700
177
Maxeon
Solar
Technologies
(1)
1,239
35
MaxLinear
(1)
3,664
116
Navitas
Semiconductor
(1)
5,013
53
NVE
234
23
Onto
Innovation
(1)
2,428
283
PDF
Solutions
(1)
1,503
68
Photronics
(1)
3,047
79
Power
Integrations
2,800
265
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Rambus
(1)
5,405
347
Semtech
(1)
3,138
80
Silicon
Laboratories
(1)
1,575
248
SiTime
(1)
843
99
SkyWater
Technology
(1)
899
8
SMART
Global
Holdings
(1)
2,401
70
Synaptics
(1)
1,943
166
Transphorm
(1)
1,042
4
Ultra
Clean
Holdings
(1)
2,220
85
Veeco
Instruments
(1)
2,500
64
3,942
Software
5.3%
8x8 (1)
5,741
24
A10
Networks
3,470
51
ACI
Worldwide
(1)
5,328
123
Adeia
5,284
58
Agilysys
(1)
1,002
69
Alarm.com
Holdings
(1)
2,383
123
Alkami
Technology
(1)
1,959
32
Altair
Engineering,
Class
A
(1)
2,667
202
American
Software,
Class
A
1,525
16
Amplitude,
Class
A
(1)
3,327
37
Appfolio,
Class
A
(1)
961
165
Appian,
Class
A
(1)
2,022
96
Applied
Digital
(1)
3,436
32
Asana,
Class
A
(1)
3,903
86
Aurora
Innovation
(1)
14,940
44
AvePoint
(1)
7,532
43
Bit
Digital
(1)
3,556
14
Blackbaud
(1)
2,139
152
BlackLine
(1)
2,768
149
Box,
Class
A
(1)
6,999
206
Braze,
Class
A
(1)
1,696
74
C3.ai,
Class
A
(1)(2)
2,930
107
Cerence
(1)
1,993
58
Cipher
Mining
(1)(2)
2,271
6
Cleanspark
(1)
3,772
16
CommVault
Systems
(1)
2,219
161
Consensus
Cloud
Solutions
(1)
985
31
CoreCard
(1)
357
9
Couchbase
(1)
1,671
26
CS
Disco
(1)
1,241
10
Digimarc
(1)(2)
682
20
Digital
Turbine
(1)
4,762
44
Domo,
Class
B
(1)
1,467
22
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
E2open
Parent
Holdings
(1)
9,780
55
Ebix
1,271
32
eGain
(1)
932
7
Enfusion,
Class
A
(1)
1,405
16
EngageSmart
(1)
2,388
46
Envestnet
(1)
2,460
146
Everbridge
(1)
1,998
54
EverCommerce
(1)
1,174
14
Expensify,
Class
A
(1)
2,715
22
ForgeRock,
Class
A
(1)
2,322
48
Freshworks,
Class
A
(1)
7,958
140
Instructure
Holdings
(1)
972
24
Intapp
(1)
775
32
InterDigital
1,330
128
Jamf
Holding
(1)
3,432
67
Kaltura
(1)
4,088
9
LivePerson
(1)
3,441
16
LiveRamp
Holdings
(1)
3,149
90
LiveVox
Holdings
(1)(2)
851
2
Marathon
Digital
Holdings
(1)(2)
8,267
115
Matterport
(1)
12,323
39
MeridianLink
(1)
1,304
27
MicroStrategy,
Class
A
(1)
548
188
Mitek
Systems
(1)(2)
2,080
23
Model
N
(1)
1,870
66
N-Able
(1)
3,507
51
NextNav
(1)(2)
3,506
10
Olo,
Class
A
(1)
5,081
33
ON24
1,608
13
OneSpan
(1)
1,991
30
PagerDuty
(1)
4,289
96
PowerSchool
Holdings,
Class
A
(1)(2)
2,753
53
Progress
Software
2,165
126
PROS
Holdings
(1)
2,195
68
Q2
Holdings
(1)
2,806
87
Qualys
(1)
1,845
238
Rapid7
(1)
2,983
135
Red
Violet
(1)(2)
519
11
Rimini
Street
(1)
2,536
12
Riot
Platforms
(1)
7,966
94
Sapiens
International
1,586
42
SEMrush
Holdings,
Class
A
(1)
1,541
15
SolarWinds
(1)
2,427
25
SoundHound
AI,
Class
A
(1)
6,878
31
SoundThinking
(1)
413
9
Sprinklr,
Class
A
(1)
4,273
59
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Sprout
Social,
Class
A
(1)
2,377
110
SPS
Commerce
(1)
1,819
349
Tenable
Holdings
(1)
5,664
247
Terawulf
(1)
3,999
7
Varonis
Systems
(1)
5,350
143
Verint
Systems
(1)
3,107
109
Veritone
(1)
1,367
5
Viant
Technology,
Class
A
(1)
608
3
Weave
Communications
(1)
1,628
18
Workiva
(1)
2,426
247
Xperi
(1)
2,121
28
Yext
(1)
5,258
59
Zeta
Global
Holdings,
Class
A
(1)
6,592
56
Zuora,
Class
A
(1)
6,216
68
6,399
Technology
Hardware,
Storage
&
Peripherals
0.7%
Avid
Technology
(1)
1,761
45
CompoSecure
(1)(2)
811
5
Corsair
Gaming
(1)
1,952
35
CPI
Card
Group
(1)
211
5
Eastman
Kodak
(1)
3,026
14
Immersion
1,541
11
Intevac
(1)
1,261
5
IonQ
(1)
7,896
107
Super
Micro
Computer
(1)
2,297
572
Turtle
Beach
(1)
844
10
Xerox
Holdings
5,603
83
892
Total
Information
Technology
16,229
MATERIALS
4.5%
Chemicals
2.0%
AdvanSix
1,284
45
American
Vanguard
1,417
25
Amyris
(1)(2)
11,520
12
Aspen
Aerogels
(1)
2,567
20
Avient
4,459
182
Balchem
1,588
214
Cabot
2,725
182
Chase
372
45
Core
Molding
Technologies
(1)
382
9
Danimer
Scientific
(1)(2)
4,634
11
Diversey
Holdings
(1)
3,869
32
Ecovyst
(1)
4,678
54
FutureFuel
1,368
12
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Hawkins
962
46
HB
Fuller
2,688
192
Ingevity
(1)
1,832
107
Innospec
1,227
123
Intrepid
Potash
(1)
512
12
Koppers
Holdings
1,022
35
Kronos
Worldwide
972
9
Livent
(1)(2)
8,956
246
LSB
Industries
(1)
2,701
27
Mativ
Holdings
2,742
41
Minerals
Technologies
1,609
93
Origin
Materials
(1)(2)
5,402
23
Orion
2,756
58
Perimeter
Solutions
(1)
7,697
47
PureCycle
Technologies
(1)(2)
5,705
61
Quaker
Chemical
683
133
Rayonier
Advanced
Materials
(1)
2,917
12
Sensient
Technologies
2,092
149
Stepan
1,043
100
Trinseo
1,697
22
Tronox
Holdings
5,747
73
Valhi
85
1
2,453
Construction
Materials
0.3%
Knife
River
(1)
2,502
109
Summit
Materials,
Class
A
(1)
5,928
224
United
States
Lime
&
Minerals
103
22
355
Containers
&
Packaging
0.3%
Greif,
Class
A
1,211
83
Greif,
Class
B
268
21
Myers
Industries
1,825
36
O-I
Glass
(1)
7,645
163
Pactiv
Evergreen
1,993
15
Ranpak
Holdings
(1)
2,024
9
TriMas
2,089
57
384
Metals
&
Mining
1.8%
5E
Advanced
Materials
(1)
1,895
6
Alpha
Metallurgical
Resources
636
104
Arconic
(1)
4,857
144
ATI
(1)
6,398
283
Caledonia
Mining
808
9
Carpenter
Technology
2,373
133
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Century
Aluminum
(1)
2,607
23
Coeur
Mining
(1)
15,700
45
Commercial
Metals
5,810
306
Compass
Minerals
International
1,719
58
Constellium
(1)
6,305
108
Contango
ORE
(1)
184
5
Dakota
Gold
(1)
2,267
7
Haynes
International
623
32
Hecla
Mining
29,503
152
i-80
Gold
(1)(2)
9,494
21
Ivanhoe
Electric
(1)(2)
2,741
36
Kaiser
Aluminum
791
57
Materion
1,012
116
NioCorp
Developments
(1)
95
—
Novagold
Resources
(1)
11,778
47
Olympic
Steel
482
24
Perpetua
Resources
(1)
1,860
7
Piedmont
Lithium
(1)(2)
899
52
PolyMet
Mining
(1)
2,513
2
Ramaco
Resources,
Class
A
1,205
10
Ramaco
Resources,
Class
B
(1)
240
2
Ryerson
Holding
1,106
48
Schnitzer
Steel
Industries,
Class
A
1,270
38
SunCoke
Energy
4,167
33
TimkenSteel
(1)
2,179
47
Tredegar
1,358
9
Warrior
Met
Coal
2,577
100
Worthington
Industries
1,527
106
2,170
Paper
&
Forest
Products
0.1%
Clearwater
Paper
(1)
822
26
Glatfelter
1,911
6
Sylvamo
1,788
72
104
Total
Materials
5,466
REAL
ESTATE
6.0%
Diversified
Real
Estate
Investment
Trusts
0.6%
Alexander
&
Baldwin,
REIT
3,594
67
Alpine
Income
Property
Trust,
REIT
642
10
American
Assets
Trust,
REIT
2,391
46
Armada
Hoffler
Properties,
REIT
3,237
38
Broadstone
Net
Lease,
REIT
9,235
143
CTO
Realty
Growth,
REIT
1,130
19
Empire
State
Realty
Trust,
Class
A,
REIT
(2)
6,422
48
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Essential
Properties
Realty
Trust,
REIT
7,392
174
Gladstone
Commercial,
REIT
1,990
25
Global
Net
Lease,
REIT
5,202
53
Nexpoint
Diversified
Real
Estate
Trust,
REIT
1,508
19
One
Liberty
Properties,
REIT
839
17
Star
Holdings
(1)(2)
577
8
667
Health
Care
Real
Estate
Investment
Trusts
0.6%
CareTrust
REIT,
REIT
4,914
98
Community
Healthcare
Trust,
REIT
1,263
42
Diversified
Healthcare
Trust,
REIT
(2)
12,546
28
Global
Medical
REIT,
REIT
2,968
27
LTC
Properties,
REIT
2,016
67
National
Health
Investors,
REIT
2,078
109
Physicians
Realty
Trust,
REIT
11,825
165
Sabra
Health
Care
REIT,
REIT
11,424
134
Universal
Health
Realty
Income
Trust,
REIT
650
31
701
Hotel
&
Resort
Real
Estate
Investment
Trusts
0.8%
Apple
Hospitality
REIT,
REIT
10,715
162
Braemar
Hotels
&
Resorts,
REIT
3,327
13
Chatham
Lodging
Trust,
REIT
2,300
22
DiamondRock
Hospitality,
REIT
10,264
82
Hersha
Hospitality
Trust,
Class
A,
REIT
1,598
10
Pebblebrook
Hotel
Trust,
REIT
(2)
5,968
83
RLJ
Lodging
Trust,
REIT
7,847
81
Ryman
Hospitality
Properties,
REIT
2,865
266
Service
Properties
Trust,
REIT
8,063
70
Summit
Hotel
Properties,
REIT
5,069
33
Sunstone
Hotel
Investors,
REIT
10,517
107
Xenia
Hotels
&
Resorts,
REIT
5,627
69
998
Industrial
Real
Estate
Investment
Trusts
0.4%
Innovative
Industrial
Properties,
REIT
(2)
1,390
101
LXP
Industrial
Trust,
REIT
14,233
139
Plymouth
Industrial
REIT,
REIT
2,109
49
Terreno
Realty,
REIT
4,057
244
533
Office
Real
Estate
Investment
Trusts
0.4%
Brandywine
Realty
Trust,
REIT
8,317
39
City
Office
REIT,
REIT
2,108
12
Corporate
Office
Properties
Trust,
REIT
5,578
132
Easterly
Government
Properties,
REIT
4,629
67
Equity
Commonwealth,
REIT
5,226
106
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
Office
Properties
Income
Trust,
REIT
2,466
19
Orion
Office
REIT,
REIT
2,891
19
Paramount
Group,
REIT
9,023
40
Piedmont
Office
Realty
Trust,
Class
A,
REIT
6,109
44
Postal
Realty
Trust,
Class
A,
REIT
892
13
491
Office
Reits
0.3%
Douglas
Emmett,
REIT
(2)
8,354
105
Hudson
Pacific
Properties,
REIT
6,789
29
JBG
SMITH
Properties,
REIT
5,494
83
Peakstone
Realty
Trust,
REIT
(2)
1,366
38
SL
Green
Realty,
REIT
(2)
3,235
97
352
Real
Estate
Management
&
Development
0.7%
American
Realty
Investors
(1)(2)
57
1
Anywhere
Real
Estate
(1)
5,434
36
Compass,
Class
A
(1)
14,761
52
Cushman
&
Wakefield
(1)
8,198
67
DigitalBridge
Group
(2)
7,969
117
Douglas
Elliman
3,665
8
eXp
World
Holdings
(2)
3,420
69
Forestar
Group
(1)
937
21
FRP
Holdings
(1)
323
19
Kennedy-Wilson
Holdings
5,881
96
Marcus
&
Millichap
1,241
39
Maui
Land
&
Pineapple
(1)
371
5
Newmark
Group,
Class
A
6,513
41
Opendoor
Technologies,
Class
A
(1)
26,805
108
RE/MAX
Holdings,
Class
A
860
17
Redfin
(1)(2)
5,201
65
RMR
Group,
Class
A
785
18
St.
Joe
1,718
83
Stratus
Properties
316
8
Tejon
Ranch
(1)
1,068
19
Transcontinental
Realty
Investors
(1)
92
3
892
Residential
Real
Estate
Investment
Trusts
0.5%
Apartment
Investment
&
Management,
Class
A,
REIT
6,996
60
BRT
Apartments,
REIT
607
12
Centerspace,
REIT
746
46
Clipper
Realty,
REIT
737
4
Elme
Communities,
REIT
4,304
71
Independence
Realty
Trust,
REIT
11,201
204
NexPoint
Residential
Trust,
REIT
1,119
51
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
UMH
Properties,
REIT
2,703
43
Veris
Residential,
REIT
(1)
3,887
62
553
Retail
Real
Estate
Investment
Trusts
1.2%
Acadia
Realty
Trust,
REIT
4,590
66
Alexander's,
REIT
109
20
CBL
&
Associates
Properties,
REIT
(2)
1,336
29
Getty
Realty,
REIT
2,203
74
InvenTrust
Properties,
REIT
3,322
77
Kite
Realty
Group
Trust,
REIT
10,762
240
Macerich,
REIT
10,671
120
Necessity
Retail
REIT,
REIT
6,596
45
NETSTREIT,
REIT
3,010
54
Phillips
Edison,
REIT
(2)
5,804
198
Retail
Opportunity
Investments,
REIT
6,070
82
RPT
Realty,
REIT
4,203
44
Saul
Centers,
REIT
601
22
SITE
Centers,
REIT
9,513
126
Tanger
Factory
Outlet
Centers,
REIT
5,027
111
Urban
Edge
Properties,
REIT
5,611
87
Urstadt
Biddle
Properties,
Class
A,
REIT
1,427
30
Whitestone
REIT,
REIT
2,356
23
1,448
Specialized
Real
Estate
Investment
Trusts
0.5%
Farmland
Partners,
REIT
(2)
2,487
30
Four
Corners
Property
Trust,
REIT
4,269
108
Gladstone
Land,
REIT
1,646
27
Outfront
Media,
REIT
7,257
114
PotlatchDeltic,
REIT
3,896
206
Safehold,
REIT
(2)
1,464
35
Uniti
Group,
REIT
11,931
55
575
Total
Real
Estate
7,210
TRUSTS
&
FUNDS
0.2%
Trusts
&
Mutual
Funds
0.2%
iShares
Russell
2000
ETF
(2)
1,275
239
Total
Trusts
&
Funds
239
UTILITIES
3.1%
Electric
Utilities
0.8%
ALLETE
2,846
165
Genie
Energy,
Class
B
973
14
MGE
Energy
1,801
142
Otter
Tail
2,051
162
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
PNM
Resources
4,257
192
Portland
General
Electric
4,821
226
901
Gas
Utilities
1.0%
Brookfield
Infrastructure,
Class
A
4,895
223
Chesapeake
Utilities
864
103
New
Jersey
Resources
4,823
228
Northwest
Natural
Holding
1,770
76
ONE
Gas
2,740
210
RGC
Resources
394
8
Southwest
Gas
Holdings
3,067
195
Spire
2,536
161
1,204
Independent
Power
&
Renewable
Electricity
Producers
0.3%
Altus
Power
(1)
3,141
17
Montauk
Renewables
(1)(2)
3,240
24
Ormat
Technologies
2,654
213
Sunnova
Energy
International
(1)(2)
4,961
91
345
Multi-Utilities
0.5%
Avista
3,707
145
Black
Hills
3,309
199
NorthWestern
2,990
170
Unitil
802
41
555
Water
Utilities
0.5%
American
States
Water
1,842
160
Artesian
Resources,
Class
A
412
19
Cadiz
(1)
1,998
8
California
Water
Service
Group
2,755
142
Consolidated
Water
740
18
Global
Water
Resources
601
8
Middlesex
Water
875
71
Pure
Cycle
(1)
861
9
SJW
Group
1,522
107
York
Water
703
29
571
Total
Utilities
3,576
Total
Common
Stocks
(Cost
$128,324)
118,752
T.
ROWE
PRICE
Small-Cap
Index
Fund
Shares/Par
$
Value
(Cost
and
value
in
$000s)
‡
SHORT-TERM
INVESTMENTS
0.3%
Money
Market
Funds
0.3%
T.
Rowe
Price
Government
Reserve
Fund,
5.13%
(4)(5)
316,680
317
317
U.S.
Treasury
Obligations
0.0%
U.S.
Treasury
Bills,
5.248%,
12/14/23
(6)
40,000
39
39
Total
Short-Term
Investments
(Cost
$356)
356
SECURITIES
LENDING
COLLATERAL
6.5%
INVESTMENTS
IN
A
POOLED
ACCOUNT
THROUGH
SECURITIES
LENDING
PROGRAM
WITH
STATE
STREET
BANK
AND
TRUST
COMPANY
6.5%
Money
Market
Funds
6.5%
T.
Rowe
Price
Government
Reserve
Fund,
5.13%
(4)(5)
7,779,989
7,780
Total
Investments
in
a
Pooled
Account
through
Securities
Lending
Program
with
State
Street
Bank
and
Trust
Company
7,780
Total
Securities
Lending
Collateral
(Cost
$7,780)
7,780
Total
Investments
in
Securities
106.0%
of
Net
Assets
(Cost
$136,460)
$
126,888
‡
Shares/Par
and
Notional
Amount
are
denominated
in
U.S.
dollars
unless
otherwise
noted.
(1)
Non-income
producing
(2)
See
Note
4
.
All
or
a
portion
of
this
security
is
on
loan
at
June
30,
2023.
(3)
See
Note
2.
Level
3
in
fair
value
hierarchy.
(4)
Seven-day
yield
(5)
Affiliated
Companies
(6)
At
June
30,
2023,
all
or
a
portion
of
this
security
is
pledged
as
collateral
and/or
margin
deposit
to
cover
future
funding
obligations.
CVR
Contingent
Value
Rights
EC
Escrow
CUSIP;
represents
a
beneficial
interest
in
a
residual
pool
of
assets;
the
amount
and
timing
of
future
distributions,
if
any,
is
uncertain;
when
presented,
interest
rate
and
maturity
date
are
those
of
the
original
security.
ETF
Exchange-Traded
Fund
REIT
A
domestic
Real
Estate
Investment
Trust
whose
distributions
pass-through
with
original
tax
character
to
the
shareholder
T.
ROWE
PRICE
Small-Cap
Index
Fund
FUTURES
CONTRACTS
($000s)
Expiration
Date
Notional
Amount
Value
and
Unrealized
Gain
(Loss)
Long,
3
Russell
2000
E-Mini
Index
contracts
9/23
286
$
1
Net
payments
(receipts)
of
variation
margin
to
date
—
Variation
margin
receivable
(payable)
on
open
futures
contracts
$
1
T.
ROWE
PRICE
Small-Cap
Index
Fund
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
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
six
months
ended
June
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
Government
Reserve
Fund,
5.13%
$
—
$
—
$
10++
Totals
$
—#
$
—
$
10+
Supplementary
Investment
Schedule
Affiliate
Value
12/31/22
Purchase
Cost
Sales
Cost
Value
06/30/23
T.
Rowe
Price
Government
Reserve
Fund,
5.13%
$
5,229
¤
¤
$
8,097
Total
$
8,097^
#
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
as
described
in
Note
4
.
+
Investment
income
comprised
$10
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
$8,097.
T.
ROWE
PRICE
Small-Cap
Index
Fund
June
30,
2023
(Unaudited)
Statement
of
Assets
and
Liabilities
($000s,
except
shares
and
per
share
amounts)
Assets
Investments
in
securities,
at
value
(cost
$136,460)
$
126,888
Receivable
for
investment
securities
sold
727
Receivable
for
shares
sold
598
Dividends
receivable
118
Due
from
affiliates
29
Cash
2
Variation
margin
receivable
on
futures
contracts
1
Other
assets
16
Total
assets
128,379
Liabilities
Obligation
to
return
securities
lending
collateral
7,780
Payable
for
investment
securities
purchased
854
Investment
management
fees
payable
9
Other
liabilities
74
Total
liabilities
8,717
NET
ASSETS
$
119,662
T.
ROWE
PRICE
Small-Cap
Index
Fund
June
30,
2023
(Unaudited)
Statement
of
Assets
and
Liabilities
($000s,
except
shares
and
per
share
amounts)
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
Net
Assets
Consist
of:
Total
distributable
earnings
(loss)
$
(
12,188
)
Paid-in
capital
applicable
to
8,828,984
shares
of
$0.0001
par
value
capital
stock
outstanding;
2,000,000,000
shares
of
the
Corporation
authorized
131,850
NET
ASSETS
$
119,662
NET
ASSET
VALUE
PER
SHARE
Investor
Class
(Net
assets:
$166;
Shares
outstanding:
12,323)
$
13.48
I
Class
(Net
assets:
$96,596;
Shares
outstanding:
7,127,064)
$
13.55
Z
Class
(Net
assets:
$22,900;
Shares
outstanding:
1,689,597)
$
13.55
T.
ROWE
PRICE
Small-Cap
Index
Fund
(Unaudited)
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
6
Months
Ended
6/30/23
Investment
Income
(Loss)
Income
Dividend
(net
of
foreign
taxes
of
$1)
$
768
Securities
lending
67
Interest
1
Total
income
836
Expenses
Investment
management
48
Shareholder
servicing
I
Class
21
Prospectus
and
shareholder
reports
I
Class
2
Custody
and
accounting
117
Legal
and
audit
14
Miscellaneous
6
Waived
/
paid
by
Price
Associates
(144)
Total
expenses
64
Net
investment
income
772
Realized
and
Unrealized
Gain
/
Loss
–
Net
realized
gain
(loss)
Securities
(653)
Futures
25
Net
realized
loss
(628)
Change
in
net
unrealized
gain
/
loss
Securities
8,350
Futures
9
Change
in
net
unrealized
gain
/
loss
8,359
Net
realized
and
unrealized
gain
/
loss
7,731
INCREASE
IN
NET
ASSETS
FROM
OPERATIONS
$
8,503
T.
ROWE
PRICE
Small-Cap
Index
Fund
(Unaudited)
Statement
of
Changes
in
Net
Assets
6
Months
Ended
6/30/23
Year
Ended
12/31/22
Increase
(Decrease)
in
Net
Assets
Operations
Net
investment
income
$
772
$
1,371
Net
realized
loss
(
628
)
(
2,159
)
Change
in
net
unrealized
gain
/
loss
8,359
(
20,564
)
Increase
(decrease)
in
net
assets
from
operations
8,503
(
21,352
)
Distributions
to
shareholders
Net
earnings
Investor
Class
–
(
2
)
I
Class
–
(
1,319
)
Z
Class
–
(
191
)
Decrease
in
net
assets
from
distributions
–
(
1,512
)
Capital
share
transactions
*
Shares
sold
I
Class
6,157
18,848
Z
Class
11,147
14,793
Distributions
reinvested
I
Class
–
1,319
Z
Class
–
191
Shares
redeemed
I
Class
(
2,119
)
(
3,831
)
Z
Class
(
1,406
)
(
2,589
)
Increase
in
net
assets
from
capital
share
transactions
13,779
28,731
T.
ROWE
PRICE
Small-Cap
Index
Fund
(Unaudited)
Statement
of
Changes
in
Net
Assets
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
6
Months
Ended
6/30/23
Year
Ended
12/31/22
Net
Assets
Increase
during
period
22,282
5,867
Beginning
of
period
97,380
91,513
End
of
period
$
119,662
$
97,380
*Share
information
(000s)
Shares
sold
I
Class
480
1,358
Z
Class
854
1,058
Distributions
reinvested
I
Class
–
101
Z
Class
–
15
Shares
redeemed
I
Class
(
163
)
(
285
)
Z
Class
(
108
)
(
198
)
Increase
in
shares
outstanding
1,063
2,049
T.
ROWE
PRICE
Small-Cap
Index
Fund
Unaudited
NOTES
TO
FINANCIAL
STATEMENTS
T.
Rowe
Price
Index
Trust,
Inc.
(the
corporation) is
registered
under
the
Investment
Company
Act
of
1940
(the
1940
Act).
The
Small-Cap
Index
Fund
(the
fund)
is
an
open-
end
management
investment
company
established
by
the
corporation
and
intends
to
be
diversified
in
approximately
the
same
proportion
as
the
index
it
tracks
is
diversified.
The
fund
may
become
nondiversified
for
periods
of
time
solely
as
a
result
of
changes
in
the
composition
of
the
index
(for
example,
changes
in
the
relative
market
capitalization
or
index
weighting
of
one
or
more
securities
represented
in
the
index). The
fund
seeks
to
track
the
performance
of
a
benchmark
index
that
measures
the
investment
return
of
small-capitalization
U.S.
stocks.
The
fund
is
available
for
investment
only
by
mutual
funds,
college
savings
plans,
and
other
institutional
client
accounts
managed
by
T.
Rowe
Price
Associates,
Inc.,
or
its
affiliates
and
is
not
available
for
direct
purchase
by
members
of
the
public.
The
fund
has
three classes
of
shares:
the
Small-Cap
Index
Fund
(Investor
Class),
the
Small-Cap
Index
Fund–I
Class
(I
Class)
and
the
Small-Cap
Index
Fund–Z
Class
(Z
Class).
I
Class
shares
require
a
$500,000
initial
investment
minimum,
although
the
minimum
generally
is
waived
or
reduced
for
financial
intermediaries,
eligible
retirement
plans,
and
certain
other
accounts.
The
Z
Class
is
only
available
to
funds
advised
by
T.
Rowe
Price
Associates,
Inc.
and
its
affiliates
and
other
clients
that
are
subject
to
a
contractual
fee
for
investment
management
services. Each
class
has
exclusive
voting
rights
on
matters
related
solely
to
that
class;
separate
voting
rights
on
matters
that
relate
to
all classes;
and,
in
all
other
respects,
the
same
rights
and
obligations
as
the
other
classes.
NOTE
1
-
SIGNIFICANT
ACCOUNTING
POLICIES
Basis
of
Preparation
The fund
is
an
investment
company
and
follows
accounting
and
reporting
guidance
in
the
Financial
Accounting
Standards
Board
(FASB)
Accounting
Standards
Codification
Topic
946
(ASC
946).
The
accompanying
financial
statements
were
prepared
in
accordance
with
accounting
principles
generally
accepted
in
the
United
States
of
America
(GAAP),
including,
but
not
limited
to,
ASC
946.
GAAP
requires
the
use
of
estimates
made
by
management.
Management
believes
that
estimates
and
valuations
are
appropriate;
however,
actual
results
may
differ
from
those
estimates,
and
the
valuations
reflected
in
the
accompanying
financial
statements
may
differ
from
the
value
ultimately
realized
upon
sale
or
maturity.
Investment
Transactions,
Investment
Income,
and
Distributions
Investment
transactions
are
accounted
for
on
the
trade
date
basis.
Income
and
expenses
are
recorded
on
the
accrual
basis.
Realized
gains
and
losses
are
reported
on
the
identified
T.
ROWE
PRICE
Small-Cap
Index
Fund
cost
basis.
Premiums
and
discounts
on
debt
securities
are
amortized
for
financial
reporting
purposes.
Income
tax-related
interest
and
penalties,
if
incurred,
are
recorded
as
income
tax
expense.
Dividends
received
from other
investment
companies are
reflected
as
dividend
income;
capital
gain
distributions
are
reflected
as
realized
gain/
loss.
Dividend
income and
capital
gain
distributions
are
recorded
on
the
ex-dividend
date.
Distributions
from
REITs
are
initially
recorded
as
dividend
income
and,
to
the
extent
such
represent
a
return
of
capital
or
capital
gain
for
tax
purposes,
are
reclassified
when
such
information
becomes
available.
Non-cash
dividends,
if
any,
are
recorded
at
the
fair
market
value
of
the
asset
received.
Proceeds
from
litigation
payments,
if
any,
are
included
in
either
net
realized
gain
(loss)
or
change
in
net
unrealized
gain/loss
from
securities.
Distributions
to
shareholders
are
recorded
on
the
ex-dividend
date.
Income
distributions,
if
any,
are
declared
and
paid
by
each
class annually.
A
capital
gain
distribution,
if
any, may
also
be
declared
and
paid
by
the
fund
annually.
Class
Accounting
Shareholder
servicing,
prospectus,
and
shareholder
report
expenses
incurred
by
each
class
are
charged
directly
to
the
class
to
which
they
relate.
Expenses
common
to
all
classes,
investment
income,
and
realized
and
unrealized
gains
and
losses
are
allocated
to
the
classes
based
upon
the
relative
daily
net
assets
of
each
class.
Capital
Transactions
Each
investor’s
interest
in
the
net
assets
of the
fund
is
represented
by
fund
shares. The
fund’s
net
asset
value
(NAV)
per
share
is
computed
at
the
close
of
the
New
York
Stock
Exchange
(NYSE),
normally
4
p.m.
ET,
each
day
the
NYSE
is
open
for
business.
However,
the
NAV
per
share
may
be
calculated
at
a
time
other
than
the
normal
close
of
the
NYSE
if
trading
on
the
NYSE
is
restricted,
if
the
NYSE
closes
earlier,
or
as
may
be
permitted
by
the
SEC.
Purchases
and
redemptions
of
fund
shares
are
transacted
at
the
next-computed
NAV
per
share,
after
receipt
of
the
transaction
order
by
T.
Rowe
Price
Associates,
Inc.,
or
its
agents.
New
Accounting
Guidance
In
June
2022,
the
FASB
issued
Accounting
Standards
Update
(ASU),
ASU
2022-03,
Fair
Value
Measurement
(Topic
820)
–
Fair
Value
Measurement
of
Equity
Securities
Subject
to
Contractual
Sale
Restrictions,
which
clarifies
that
a
contractual
restriction
on
the
sale
of
an
equity
security
is
not
considered
part
of
the
unit
of
account
of
the
equity
security
and,
therefore,
is
not
considered
in
measuring
fair
value.
The
amendments
under
this
ASU
are
effective
for
fiscal
years
beginning
after
December
15,
2023;
however,
the
fund
opted
to
early
adopt,
as
permitted,
effective
December
1,
2022. Adoption
of
the
guidance
did not
have
a
material
impact
on
the fund's
financial statements.
T.
ROWE
PRICE
Small-Cap
Index
Fund
Indemnification
In
the
normal
course
of
business, the
fund
may
provide
indemnification
in
connection
with
its
officers
and
directors,
service
providers,
and/or
private
company
investments. The
fund’s
maximum
exposure
under
these
arrangements
is
unknown;
however,
the
risk
of
material
loss
is
currently
considered
to
be
remote.
NOTE
2
-
VALUATION
Fair
Value
The
fund’s
financial
instruments
are
valued
at
the
close
of
the
NYSE
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)
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
T.
ROWE
PRICE
Small-Cap
Index
Fund
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.
Assets
and
liabilities
other
than
financial
instruments,
including
short-term
receivables
and
payables,
are
carried
at
cost,
or
estimated
realizable
value,
if
less,
which
approximates
fair
value.
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
T.
ROWE
PRICE
Small-Cap
Index
Fund
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
June
30,
2023
(for
further
detail
by
category,
please
refer
to
the
accompanying
Portfolio
of
Investments):
NOTE
3
-
DERIVATIVE
INSTRUMENTS
During
the
six
months ended
June
30,
2023,
the
fund
invested
in
derivative
instruments.
As
defined
by
GAAP,
a
derivative
is
a
financial
instrument
whose
value
is
derived
from
an
underlying
security
price,
foreign
exchange
rate,
interest
rate,
index
of
prices
or
rates,
or
other
variable;
it
requires
little
or
no
initial
investment
and
permits
or
requires
net
settlement.
The
fund
invests
in
derivatives
only
if
the
expected
risks
and
rewards
are
consistent
with
its
investment
objectives,
policies,
and
overall
risk
profile,
as
described
in
its
prospectus
and
Statement
of
Additional
Information.
The
fund
may
use
derivatives
for
a
variety
of
purposes
and
may
use
them
to
establish
both
long
and
short
positions
within
the
fund’s
portfolio.
Potential
uses
include
to
hedge
against
declines
in
principal
value,
increase
yield,
invest
in
an
asset
with
greater
efficiency
and
at
a
lower
cost
than
is
possible
through
direct
investment,
to
enhance
return,
or
to
adjust
credit
exposure.
($000s)
Level
1
Level
2
Level
3
Total
Value
Assets
Common
Stocks
$
118,752
$
—
$
—
$
118,752
Short-Term
Investments
317
39
—
356
Securities
Lending
Collateral
7,780
—
—
7,780
Total
Securities
126,849
39
—
126,888
Futures
Contracts*
1
—
—
1
Total
$
126,850
$
39
$
—
$
126,889
*
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
Small-Cap
Index
Fund
The
risks
associated
with
the
use
of
derivatives
are
different
from,
and
potentially
much
greater
than,
the
risks
associated
with
investing
directly
in
the
instruments
on
which
the
derivatives
are
based.
The
fund
values
its
derivatives
at
fair
value
and
recognizes
changes
in
fair
value
currently
in
its
results
of
operations.
Accordingly,
the
fund
does
not
follow
hedge
accounting,
even
for
derivatives
employed
as
economic
hedges.
Generally,
the
fund
accounts
for
its
derivatives
on
a
gross
basis.
It
does
not
offset
the
fair
value
of
derivative
liabilities
against
the
fair
value
of
derivative
assets
on
its
financial
statements,
nor
does
it
offset
the
fair
value
of
derivative
instruments
against
the
right
to
reclaim
or
obligation
to
return
collateral.
The
following
table
summarizes
the
fair
value
of
the
fund’s
derivative
instruments
held
as
of
June
30,
2023,
and
the
related
location
on
the
accompanying
Statement
of
Assets
and
Liabilities,
presented
by
primary
underlying
risk
exposure:
Additionally,
the
amount
of
gains
and
losses
on
derivative
instruments
recognized
in
fund
earnings
during
the
six
months ended
June
30,
2023,
and
the
related
location
on
the
accompanying
Statement
of
Operations
is
summarized
in
the
following
table
by
primary
underlying
risk
exposure:
($000s)
Location
on
Statement
of
Assets
and
Liabilities
Fair
Value*
Assets
Equity
derivatives
Futures
$
1
*
Total
$
1
*
The
fair
value
presented
includes
cumulative
gain
(loss)
on
open
futures
contracts;
however,
the
value
reflected
on
the
accompanying
Statement
of
Assets
and
Liabilities
is
only
the
unsettled
variation
margin
receivable
(payable)
at
that
date.
($000s)
Location
of
Gain
(Loss)
on
Statement
of
Operations
Futures
Realized
Gain
(Loss)
Equity
derivatives
$
25
Total
$
25
T.
ROWE
PRICE
Small-Cap
Index
Fund
Counterparty
Risk
and
Collateral
The
fund
invests
in
exchange-traded
and/or
centrally
cleared
derivative
contracts,
such
as
futures,
exchange-traded
options,
and
centrally
cleared
swaps.
Counterparty
risk
on
such
derivatives
is
minimal
because
the
clearinghouse
provides
protection
against
counterparty
defaults.
For
futures
and
centrally
cleared
swaps,
the
fund
is
required
to
deposit
collateral
in
an
amount
specified
by
the
clearinghouse
and
the
clearing
firm
(margin
requirement),
and
the
margin
requirement
must
be
maintained
over
the
life
of
the
contract.
Each
clearinghouse
and
clearing
firm,
in
its
sole
discretion,
may
adjust
the
margin
requirements
applicable
to
the
fund.
Collateral may
be
in
the
form
of
cash
or
debt
securities
issued
by
the
U.S.
government
or
related
agencies.
Cash
posted
by
the
fund
is
reflected
as
cash
deposits
in
the
accompanying
financial
statements
and
generally
is
restricted
from
withdrawal
by
the
fund;
securities
posted
by
the
fund
are
so
noted
in
the
accompanying
Portfolio
of
Investments;
both
remain
in
the
fund’s
assets.
While
typically
not
sold
in
the
same
manner
as
equity
or
fixed
income
securities,
exchange-traded
or
centrally
cleared
derivatives
may
be
closed
out
only
on
the
exchange
or
clearinghouse
where
the
contracts
were
cleared.
This
ability
is
subject
to
the
liquidity
of
underlying
positions. As
of
June
30,
2023,
securities
valued
at $31,000
had
been
posted
by
the
fund
for
exchange-
traded
and/or
centrally
cleared
derivatives.
Futures
Contracts
The
fund
is
subject
to equity
price
risk in
the
normal
course
of
pursuing
its
investment
objectives
and
uses
futures
contracts
to
help
manage
such
risk.
The
fund
may
enter
into
futures
contracts
as
an
efficient
means
of
maintaining
liquidity
while
being
invested
in
the
market,
to
facilitate
trading,
or
to
reduce
transaction
costs. A
futures
contract
provides
for
the
future
sale
by
one
party
and
purchase
by
another
of
a
specified
amount
of
a
specific
underlying
financial
instrument
at
an
agreed-upon
price,
date,
time,
and
place.
The
fund
currently
invests
only
in
exchange-traded
futures,
which
generally
are
standardized
as
to
maturity
date,
underlying
financial
instrument,
and
other
contract
terms.
Payments
are
made
or
received
by
the
fund
each
day
to
settle
daily
fluctuations
in
the
value
of
the
contract
(variation
margin),
which
reflect
changes
in
the
value
of
the
underlying
financial
instrument.
Variation
margin
is
recorded
as
unrealized
($000s)
Location
of
Gain
(Loss)
on
Statement
of
Operations
Futures
Change
in
Unrealized
Gain
(Loss)
Equity
derivatives
$
9
Total
$
9
T.
ROWE
PRICE
Small-Cap
Index
Fund
gain
or
loss
until
the
contract
is
closed.
The
value
of
a
futures
contract
included
in
net
assets
is
the
amount
of
unsettled
variation
margin;
net
variation
margin
receivable
is
reflected
as
an
asset
and
net
variation
margin
payable
is
reflected
as
a
liability
on
the
accompanying
Statement
of
Assets
and
Liabilities.
Risks
related
to
the
use
of
futures
contracts
include
possible
illiquidity
of
the
futures
markets,
contract
prices
that
can
be
highly
volatile
and
imperfectly
correlated
to
movements
in
hedged
security
values,
and
potential
losses
in
excess
of
the
fund’s
initial
investment.
During
the
six
months ended
June
30,
2023,
the
volume
of
the
fund’s
activity
in
futures,
based
on
underlying
notional
amounts,
was
generally
less
than
1%
of
net
assets.
NOTE
4
-
OTHER
INVESTMENT
TRANSACTIONS
Consistent
with
its
investment
objective,
the
fund
engages
in
the
following
practices
to
manage
exposure
to
certain
risks
and/or
to
enhance
performance.
The
investment
objective,
policies,
program,
and
risk
factors
of
the
fund
are
described
more
fully
in
the
fund's
prospectus
and
Statement
of
Additional
Information.
Securities
Lending
The fund
may
lend
its
securities
to
approved
borrowers
to
earn
additional
income.
Its
securities
lending
activities
are
administered
by
a
lending
agent
in
accordance
with
a
securities
lending
agreement.
Security
loans
generally
do
not
have
stated
maturity
dates,
and
the
fund
may
recall
a
security
at
any
time.
The
fund
receives
collateral
in
the
form
of
cash
or
U.S.
government
securities.
Collateral
is
maintained
over
the
life
of
the
loan
in
an
amount
not
less
than
the
value
of
loaned
securities;
any
additional
collateral
required
due
to
changes
in
security
values
is
delivered
to
the
fund
the
next
business
day.
Cash
collateral
is
invested
in
accordance
with
investment
guidelines
approved
by
fund
management.
Additionally,
the
lending
agent
indemnifies
the
fund
against
losses
resulting
from
borrower
default.
Although
risk
is
mitigated
by
the
collateral
and
indemnification,
the
fund
could
experience
a
delay
in
recovering
its
securities
and
a
possible
loss
of
income
or
value
if
the
borrower
fails
to
return
the
securities,
collateral
investments
decline
in
value,
and
the
lending
agent
fails
to
perform.
Securities
lending
revenue
consists
of
earnings
on
invested
collateral
and
borrowing
fees,
net
of
any
rebates
to
the
borrower,
compensation
to
the
lending
agent,
and
other
administrative
costs.
In
accordance
with
GAAP,
investments
made
with
cash
collateral
are
reflected
in
the
accompanying
financial
statements,
but
collateral
received
in
the
form
of
securities
is
not.
At
June
30,
2023,
the
value
of
loaned
securities
was
$7,507,000,
including
securities
sold
but
not
yet
settled,
which
are
not
reflected
in
the
accompanying
Portfolio
of
Investments;
the
value
of
cash
collateral
and
related
investments
was
$7,780,000.
T.
ROWE
PRICE
Small-Cap
Index
Fund
Other
Purchases
and
sales
of
portfolio
securities
other
than
short-term securities
aggregated $34,071,000 and
$19,833,000,
respectively,
for
the
six
months ended
June
30,
2023.
NOTE
5
-
FEDERAL
INCOME
TAXES
Generally,
no
provision
for
federal
income
taxes
is
required
since
the
fund
intends
to
continue
to
qualify
as
a
regulated
investment
company
under
Subchapter
M
of
the
Internal
Revenue
Code
and
distribute
to
shareholders
all
of
its
taxable
income
and
gains.
Distributions
determined
in
accordance
with
federal
income
tax
regulations
may
differ
in
amount
or
character
from
net
investment
income
and
realized
gains
for
financial
reporting
purposes.
Financial
reporting
records
are
adjusted
for
permanent
book/
tax
differences
to
reflect
tax
character
but
are
not
adjusted
for
temporary
differences.
The
amount
and
character
of
tax-basis
distributions
and
composition
of
net
assets
are
finalized
at
fiscal
year-end;
accordingly,
tax-basis
balances
have
not
been
determined
as
of
the
date
of
this
report.
The
fund
intends
to
retain
realized
gains
to
the
extent
of
available
capital
loss
carryforwards.
Net
realized
capital
losses
may
be
carried
forward
indefinitely
to
offset
future
realized
capital
gains.
As
of
December
31,
2022,
the
fund
had
$1,498,000 of
available
capital
loss
carryforwards.
At
June
30,
2023,
the
cost
of
investments
(including
derivatives,
if
any)
for
federal
income
tax
purposes
was
$137,765,000.
Net
unrealized
loss
aggregated
$10,876,000
at
period-end,
of
which $14,710,000
related
to
appreciated
investments
and $25,586,000
related
to
depreciated
investments.
NOTE
6
-
FOREIGN
TAXES
The
fund
is
subject
to
foreign
income
taxes
imposed
by
certain
countries
in
which
it
invests.
Additionally,
capital
gains
realized
upon
disposition
of
securities
issued
in
or
by
certain
foreign
countries
are
subject
to
capital
gains
tax
imposed
by
those
countries.
All
taxes
are
computed
in
accordance
with
the
applicable
foreign
tax
law,
and,
to
the
extent
permitted,
capital
losses
are
used
to
offset
capital
gains.
Taxes
attributable
to
income
are
accrued
by
the
fund
as
a
reduction
of
income.
Current
and
deferred
tax
expense
attributable
to
capital
gains
is
reflected
as
a
component
of
realized
or
change
in
unrealized
gain/loss
on
securities
in
the
accompanying
financial
statements.
To
the
extent
that
the
fund
has
country
specific
capital
loss
carryforwards,
such
carryforwards
T.
ROWE
PRICE
Small-Cap
Index
Fund
are
applied
against
net
unrealized
gains
when
determining
the
deferred
tax
liability.
Any
deferred
tax
liability
incurred
by
the
fund
is
included
in
either
Other
liabilities
or
Deferred
tax
liability
on
the
accompanying
Statement
of
Assets
and
Liabilities.
NOTE
7
-
RELATED
PARTY
TRANSACTIONS
The
fund
is
managed
by
T.
Rowe
Price
Associates,
Inc.
(Price
Associates),
a
wholly
owned
subsidiary
of
T.
Rowe
Price
Group,
Inc.
(Price
Group).
The
investment
management
agreement
between
the
fund
and
Price
Associates
provides
for
an
annual
investment
management
fee
equal
to 0.09%
of
the
fund’s
average
daily
net
assets.
The
fee
is
computed
daily
and
paid
monthly.
The Investor Class
is
subject
to
a
contractual
expense
limitation
through
the
expense
limitation
date
indicated
in
the
table
below.
During
the
limitation
period,
Price
Associates
is
required
to
waive
its
management
fee
or
pay
any
expenses
(excluding
interest;
expenses
related
to
borrowings,
taxes,
and
brokerage;
non-recurring,
extraordinary expenses;
and
acquired
fund
fees
and
expenses) that
would
otherwise
cause
the
class’s
ratio
of
annualized
total
expenses
to
average
net
assets
(net
expense
ratio)
to
exceed
its
expense
limitation.
The
class
is
required
to
repay
Price
Associates
for
expenses
previously
waived/paid
to
the
extent
the
class’s
net
assets
grow
or
expenses
decline
sufficiently
to
allow
repayment
without
causing
the
class’s
net
expense
ratio
(after
the
repayment
is
taken
into
account)
to
exceed
the
lesser
of:
(1)
the
expense
limitation
in
place
at
the
time
such
amounts
were
waived;
or
(2)
the
class’s
current
expense
limitation.
However,
no
repayment
will
be
made
more
than
three
years
after
the
date
of
a
payment
or
waiver.
The
I
Class
is
also
subject
to
an
operating
expense
limitation
(I
Class
Limit)
pursuant
to
which
Price
Associates
is
contractually
required
to
pay
all
operating
expenses
of
the
I
Class,
excluding
management
fees;
interest;
expenses
related
to
borrowings,
taxes,
and
brokerage; non-recurring,
extraordinary expenses; and
acquired
fund
fees
and
expenses, to
the
extent
such
operating
expenses,
on
an
annualized
basis,
exceed
the
I
Class
Limit. This
agreement
will
continue
through
the
expense
limitation
date
indicated
in
the
table
below,
and
may
be
renewed,
revised,
or
revoked
only
with
approval
of
the
fund’s
Board.
The
I
Class
is
required
to
repay
Price
Associates
for
expenses
previously
paid
to
the
extent
the
class’s
net
assets
grow
or
expenses
decline
sufficiently
to
allow
repayment
without
causing
the
class’s
operating
expenses
(after
the
repayment
is
taken
into
account)
to
exceed
the
lesser
of:
(1)
the
I
Class
Limit
in
place
at
the
time
such
amounts
were
paid;
or
(2)
the
current
I
Class
Limit.
However,
no
repayment
will
be
made
more
than
three
years
after
the
date
of
a
payment
or
waiver.
T.
ROWE
PRICE
Small-Cap
Index
Fund
The
Z
Class
is
also
subject
to
a
contractual
expense
limitation
agreement
whereby
Price
Associates
has
agreed
to
waive
and/or
bear
all
of
the
Z
Class’
expenses
(excluding
interest;
expenses
related
to
borrowings,
taxes,
and
brokerage;
non-recurring,
extraordinary
expenses;
and
acquired
fund
fees
and
expenses)
in
their
entirety.
This
fee
waiver
and/or
expense
reimbursement
arrangement
is
expected
to
remain
in
place
indefinitely,
and
the
agreement
may
only
be
amended
or
terminated
with
approval
by
the
fund’s
Board.
Expenses
of
the
fund
waived/paid
by
the
manager
are
not
subject
to
later
repayment
by
the
fund.
Pursuant
to
these
agreements,
expenses
were
waived/paid
by
and/or
repaid
to
Price
Associates
during
the
six
months ended June
30,
2023
as
indicated
in
the
table
below.
Including these
amounts,
expenses
previously
waived/paid
by
Price
Associates
in
the
amount
of $803,000 remain
subject
to
repayment
by
the
fund
at
June
30,
2023.
Any
repayment
of
expenses
previously
waived/paid
by
Price
Associates
during
the
period
would
be
included
in
the
net
investment
income
and
expense
ratios
presented
on
the
accompanying
Financial
Highlights.
In
addition,
the
fund
has
entered
into
service
agreements
with
Price
Associates
and
a
wholly
owned
subsidiary
of
Price
Associates,
each
an
affiliate
of
the
fund
(collectively,
Price).
Price
Associates
provides
certain
accounting
and
administrative
services
to
the
fund.
T.
Rowe
Price
Services,
Inc.
provides
shareholder
and
administrative
services
in
its
capacity
as
the
fund’s
transfer
and
dividend-disbursing
agent.
For
the
six
months
ended
June
30,
2023,
expenses
incurred
pursuant
to
these
service
agreements
were
$58,000
for
Price
Associates
and
less
than
$1,000
for
T.
Rowe
Price
Services,
Inc.
All
amounts
due
to
and
due
from
Price,
exclusive
of
investment
management
fees
payable,
are
presented
net
on
the
accompanying
Statement
of
Assets
and
Liabilities.
Additionally,
the
fund
is
one
of
several
mutual
funds
in
which
certain
college
savings
plans
managed
by
Price
Associates invests.
As
approved
by
the
fund’s
Board
of
Directors,
shareholder
servicing
costs
associated
with
each
college
savings
plan
are
borne
by
the
fund
in
proportion
to
the
average
daily
value
of
its
shares
owned
by
the
college
savings
plan.
Price
has
agreed
to waive/reimburse
shareholder
servicing
costs in
excess
of
0.05%
of
the
fund’s
average
daily
value
of
its
shares
owned
by
the
college
savings
Investor
Class
I
Class
Z
Class
Expense
limitation/I
Class
Limit
0.29%
0.05%
0.00%
Expense
limitation
date
04/30/24
04/30/24
N/A
(Waived)/repaid
during
the
period
($000s)
$—
(1)
$(114)
$(30)
(1)
Amount
rounds
to
less
than
$1,000
T.
ROWE
PRICE
Small-Cap
Index
Fund
plan.
Any
amounts
waived/paid
by
Price
under
this
voluntary
agreement
are
not
subject
to
repayment
by
the
fund.
Price
may
amend
or
terminate
this
voluntary
arrangement
at
any
time
without
prior
notice.
For
the
six
months ended
June
30,
2023,
the
fund
was
charged $21,000 for
shareholder
servicing
costs
related
to
the
college
savings
plans, which
is
net
of
a
reimbursement
by
Price
of
$10,000.
All
amounts
due
to
and
due
from
Price,
exclusive
of
investment
management
fees
payable,
are
presented
net
on
the
accompanying
Statement
of
Assets
and
Liabilities. At
June
30,
2023,
approximately
95%
of
the
outstanding
shares
of
the
I
Class
were
held
by
college
savings
plans.
Mutual
funds,
trusts,
and
other
accounts
managed
by
Price
Associates
or
its
affiliates
(collectively,
Price
Funds
and
accounts)
may
invest
in
the
fund.
No
Price
fund
or
account
may
invest
for
the
purpose
of
exercising
management
or
control
over
the
fund.
At
June
30,
2023,
approximately
100%
of
the
Z
Class's
outstanding
shares
were
held
by
Price
Funds
and
accounts.
The fund
may
invest
its
cash
reserves
in
certain
open-end
management
investment
companies
managed
by
Price
Associates
and
considered
affiliates
of
the
fund:
the
T.
Rowe
Price
Government
Reserve
Fund
or
the
T.
Rowe
Price
Treasury
Reserve
Fund,
organized
as
money
market
funds
(together,
the
Price
Reserve
Funds).
The
Price
Reserve
Funds
are
offered
as
short-term
investment
options
to
mutual
funds,
trusts,
and
other
accounts
managed
by
Price
Associates
or
its
affiliates
and
are
not
available
for
direct
purchase
by
members
of
the
public.
Cash
collateral
from
securities
lending,
if
any,
is
invested
in
the
T.
Rowe
Price
Government
Reserve Fund. The
Price
Reserve
Funds
pay
no
investment
management
fees.
As
of
June
30,
2023,
T.
Rowe
Price
Group,
Inc.,
or
its
wholly
owned
subsidiaries,
owned
12,323
shares
of
the
Investor
Class,
representing
100%
of
the
Investor
Class's
net
assets.
The
fund may
participate
in
securities
purchase
and
sale
transactions
with
other
funds
or
accounts
advised
by
Price
Associates
(cross
trades),
in
accordance
with
procedures
adopted
by the
fund’s
Board
and
Securities
and
Exchange
Commission
rules,
which
require,
among
other
things,
that
such
purchase
and
sale
cross
trades
be
effected
at
the
independent
current
market
price
of
the
security.
During
the
six
months
ended
June
30,
2023,
the
fund
had
no
purchases
or
sales
cross
trades
with
other
funds
or
accounts
advised
by
Price
Associates.
T.
ROWE
PRICE
Small-Cap
Index
Fund
NOTE
8
-
OTHER
MATTERS
Unpredictable
events
such
as
environmental
or
natural
disasters,
war,
terrorism,
pandemics,
outbreaks
of
infectious
diseases,
and
similar
public
health
threats
may
significantly
affect
the
economy
and
the
markets
and
issuers
in
which
the fund
invests.
Certain
events
may
cause
instability
across
global
markets,
including
reduced
liquidity
and
disruptions
in
trading
markets,
while
some
events
may
affect
certain
geographic
regions,
countries,
sectors,
and
industries
more
significantly
than
others,
and
exacerbate
other
pre-existing
political,
social,
and
economic
risks.
Since
2020,
a
novel
strain
of
coronavirus
(COVID-19)
has
resulted
in
disruptions
to
global
business
activity
and
caused
significant
volatility
and
declines
in
global
financial
markets.
In
February
2022,
Russian
forces
entered
Ukraine
and
commenced
an
armed
conflict
leading
to
economic
sanctions
being
imposed
on
Russia
and
certain
of
its
citizens,
creating
impacts
on
Russian-related
stocks
and
debt
and
greater
volatility
in
global
markets.
In
March
2023,
the
collapse
of
some
US
regional
and
global
banks
as
well
as
overall
concerns
around
the
soundness
and
stability
of
the
global
banking
sector
has
sparked
concerns
of
a
broader
financial
crisis
impacting
the
overall
global
banking
sector.
In
certain
cases,
government
agencies
have
assumed
control
or
otherwise
intervened
in
the
operations
of
certain
banks
due
to
liquidity
and
solvency
concerns.
The
extent
of
impact
of
these
events
on
the
US
and
global
markets
is
highly
uncertain.
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.
T.
ROWE
PRICE
Small-Cap
Index
Fund
INFORMATION
ON
PROXY
VOTING
POLICIES,
PROCEDURES,
AND
RECORDS
A
description
of
the
policies
and
procedures
used
by
T.
Rowe
Price
funds
to
determine
how
to
vote
proxies
relating
to
portfolio
securities
is
available
in
each
fund’s
Statement
of
Additional
Information.
You
may
request
this
document
by
calling
1-800-225-5132
or
by
accessing
the
SEC’s
website,
sec.gov.
The
description
of
our
proxy
voting
policies
and
procedures
is
also
available
on
our
corporate
website.
To
access
it,
please
visit
the
following
Web
page:
https://www.troweprice.com/corporate/us/en/utility/policies.html
Scroll
down
to
the
section
near
the
bottom
of
the
page
that
says,
“Proxy
Voting
Guidelines.”
Click
on
the
links
in
the
shaded
box.
Each
fund’s
most
recent
annual
proxy
voting
record
is
available
on
our
website
and
through
the
SEC’s
website.
To
access
it
through
T.
Rowe
Price,
visit
the
website
location
shown
above,
and
scroll
down
to
the
section
near
the
bottom
of
the
page
that
says,
“Proxy
Voting
Records.”
Click
on
the
Proxy
Voting
Records
link
in
the
shaded
box.
RESULTS
OF
PROXY
VOTING
A
Special
Meeting
of
Shareholders
was
held
on
July
24,
2023
for
shareholders
of
record
on
April
7,
2023,
to
elect
the
following
director-nominees
to
serve
on
the
Board
of
all
Price
Funds.
The
newly
elected
Directors
took
office
effective
July
24,
2023.
The
results
of
the
voting
were
as
follows:
Teresa
Bryce
Bazemore,
Bruce
W.
Duncan,
Robert
J.
Gerrard,
Jr.,
Paul
F.
McBride
and
David
Oestreicher
continue
to
serve
as
Directors
on
the
Board
of
all
Price
Funds.
HOW
TO
OBTAIN
QUARTERLY
PORTFOLIO
HOLDINGS
The
fund
files
a
complete
schedule
of
portfolio
holdings
with
the
Securities
and
Exchange
Commission
(SEC)
for
the
first
and
third
quarters
of
each
fiscal
year
as
an
exhibit
to
its
reports
on
Form
N-PORT.
The
fund’s
reports
on
Form
N-PORT
are
available
electronically
on
the
SEC’s
website
(sec.gov).
In
addition,
most
T.
Rowe
Price
funds
disclose
their
first
and
third
fiscal
quarter-end
holdings
on
troweprice.com
.
Votes
For
Votes
Withheld
Melody
Bianchetto
410,062,298
1,655,973
Mark
J.
Parrell
409,937,671
1,709,010
Kellye
L.
Walker
410,159,459
1,646,826
Eric
L.
Veiel
407,150,354
4,595,210
T.
ROWE
PRICE
Small-Cap
Index
Fund
APPROVAL
OF
INVESTMENT
MANAGEMENT
AGREEMENT
AND
SUBADVISORY
AGREEMENT
Each
year,
the
fund’s
Board
of
Directors
(Board)
considers
the
continuation
of
the
investment
management
agreement
(Advisory
Contract)
between
the
fund
and
its
investment
adviser,
T.
Rowe
Price
Associates,
Inc.
(Adviser),
as
well
as
the
investment
subadvisory
agreement
(Subadvisory
Contract)
that
the
Adviser
has
entered
into
with
T.
Rowe
Price
International
Ltd
(Subadviser)
on
behalf
of
the
fund.
In
that
regard,
at
a
meeting
held
on
March
6–7,
2023
(Meeting),
the
Board,
including
all
of
the
fund’s
independent
directors,
approved
the
continuation
of
the
fund’s
Advisory
Contract
and
Subadvisory
Contract.
At
the
Meeting,
the
Board
considered
the
factors
and
reached
the
conclusions
described
below
relating
to
the
selection
of
the
Adviser
and
Subadviser
and
the
approval
of
the
Advisory
Contract
and
Subadvisory
Contract.
The
independent
directors
were
assisted
in
their
evaluation
of
the
Advisory
Contract
and
Subadvisory
Contract
by
independent
legal
counsel
from
whom
they
received
separate
legal
advice
and
with
whom
they
met
separately.
In
providing
information
to
the
Board,
the
Adviser
was
guided
by
a
detailed
set
of
requests
for
information
submitted
by
independent
legal
counsel
on
behalf
of
the
independent
directors.
In
considering
and
approving
the
continuation
of
the
Advisory
Contract
and
Subadvisory
Contract,
the
Board
considered
the
information
it
believed
was
relevant,
including,
but
not
limited
to,
the
information
discussed
below.
The
Board
considered
not
only
the
specific
information
presented
in
connection
with
the
Meeting
but
also
the
knowledge
gained
over
time
through
interaction
with
the
Adviser
and
Subadviser
about
various
topics.
The
Board
meets
regularly
and,
at
each
of
its
meetings,
covers
an
extensive
agenda
of
topics
and
materials
and
considers
factors
that
are
relevant
to
its
annual
consideration
of
the
renewal
of
the
T.
Rowe
Price
funds’
advisory
contracts,
including
performance
and
the
services
and
support
provided
to
the
funds
and
their
shareholders.
Services
Provided
by
the
Adviser
and
Subadviser
The
Board
considered
the
nature,
quality,
and
extent
of
the
services
provided
to
the
fund
by
the
Adviser
and
Subadviser.
These
services
included,
but
were
not
limited
to,
directing
the
fund’s
investments
in
accordance
with
its
investment
program
and
the
overall
management
of
the
fund’s
portfolio,
as
well
as
a
variety
of
related
activities
such
as
financial,
investment
operations,
and
administrative
services;
compliance;
maintaining
the
fund’s
records
and
registrations;
and
shareholder
communications.
The
Board
also
reviewed
the
background
and
experience
of
the
Adviser’s
and
Subadviser’s
senior
management
teams
and
investment
personnel
involved
in
the
management
of
the
fund,
as
well
as
the
Adviser’s
compliance
record.
The
Board
concluded
that
the
information
it
considered
with
respect
to
the
nature,
quality,
and
extent
of
the
services
provided
by
the
Adviser
and
Subadviser,
as
well
as
the
other
factors
considered
at
the
Meeting,
supported
the
Board’s
approval
of
the
continuation
of
the
Advisory
Contract
and
Subadvisory
Contract.
T.
ROWE
PRICE
Small-Cap
Index
Fund
Investment
Performance
of
the
Fund
The
Board
took
into
account
discussions
with
the
Adviser
and
detailed
reports
that
it
regularly
receives
throughout
the
year
on
relative
and
absolute
performance
for
the
T.
Rowe
Price
funds.
In
connection
with
the
Meeting,
the
Board
reviewed
information
provided
by
the
Adviser
that
compared
the
fund’s
total
returns,
as
well
as
a
wide
variety
of
other
previously
agreed-upon
performance
measures
and
market
data,
against
relevant
benchmark
indexes
and
peer
groups
of
funds
with
similar
investment
programs
for
various
periods
through
December
31,
2022. Additionally,
the
Board
reviewed
the
fund’s
relative
performance
information
as
of
September
30,
2022,
which
ranked
the
returns
of
the
fund’s
Investor
Class
for
various
periods
against
a
universe
of
funds
with
similar
investment
programs
selected
by
Broadridge,
an
independent
provider
of
mutual
fund
data.
In
the
course
of
its
deliberations,
the
Board
considered
performance
information
provided
throughout
the
year
and
in
connection
with
the
Advisory
Contract
review
at
the
Meeting,
as
well
as
information
provided
during
investment
review
meetings
conducted
with
portfolio
managers
and
senior
investment
personnel
during
the
course
of
the
year
regarding
the
fund’s
performance.
The
Board
also
considered
relevant
factors,
such
as
overall
market
conditions
and
trends
that
could
adversely
impact
the
fund’s
performance,
length
of
the
fund’s
performance
track
record,
and
how
closely
the
fund’s
strategies
align
with
its
benchmarks
and
peer
groups.
The
Board
concluded
that
the
information
it
considered
with
respect
to
the
fund’s
performance,
as
well
as
the
other
factors
considered
at
the
Meeting,
supported
the
Board’s
approval
of
the
continuation
of
the
Advisory
Contract
and
Subadvisory
Contract.
Costs,
Benefits,
Profits,
and
Economies
of
Scale
The
Board
reviewed
detailed
information
regarding
the
revenues
received
by
the
Adviser
under
the
Advisory
Contract
and
other
direct
and
indirect
benefits
that
the
Adviser
(and
its
affiliates)
may
have
realized
from
its
relationship
with
the
fund.
In
considering
soft-
dollar
arrangements
pursuant
to
which
research
may
be
received
from
broker-dealers
that
execute
the
fund’s
portfolio
transactions,
the
Board
noted
that
the
Adviser
bears
the
cost
of
research
services
for
all
client
accounts
that
it
advises,
including
the
T.
Rowe
Price
funds.
The
Board
received
information
on
the
estimated
costs
incurred
and
profits
realized
by
the
Adviser
from
managing
the
T.
Rowe
Price
funds.
While
the
Board
did
not
review
information
regarding
profits
realized
from
managing
the
fund
in
particular
because
the
fund
had
either
not
achieved
sufficient
portfolio
asset
size
or
not
recognized
sufficient
revenues
to
produce
meaningful
profit
margin
percentages,
the
Board
concluded
that
the
Adviser’s
profits
were
reasonable
in
light
of
the
services
provided
to
the
T.
Rowe
Price
funds.
APPROVAL
OF
INVESTMENT
MANAGEMENT
AGREEMENT
AND
SUBADVISORY
AGREEMENT
(continued)
T.
ROWE
PRICE
Small-Cap
Index
Fund
The
Board
also
considered
whether
the
fund
benefits
under
the
fee
levels
set
forth
in
the
Advisory
Contract
or
otherwise
from
any
economies
of
scale
realized
by
the
Adviser.
Under
the
Advisory
Contract,
the
fund
pays
a
fee
to
the
Adviser
for
investment
management
services
based
on
the
fund’s
average
daily
net
assets
and
the
fund
pays
its
own
expenses
of
operations.
Under
the
Subadvisory
Contract,
the
Adviser
may
pay
the
Subadviser
up
to
60%
of
the
advisory
fees
that
the
Adviser
receives
from
the
fund.
The
fund’s
shareholders
have
benefited
from
economies
of
scale
through
reductions
to
the
fund’s
management
fee,
and
the
fund
is
also
subject
to
contractual
expense
limitations
that
require
the
fund
to
waive
its
fees
and/or
bear
any
expenses
that
would
otherwise
cause
the
expenses
of
a
share
class
of
the
fund
to
exceed
a
certain
percentage
based
on
the
class’s
net
assets.
The
expense
limitations
mitigate
the
potential
for
relatively
higher
expenses
until
the
fund
achieves
greater
scale.
The
fund
also
offers
a
Z
Class,
which
serves
as
an
underlying
investment
within
certain
T.
Rowe
Price
fund
of
funds
arrangements.
The
Adviser
waives
its
advisory
fee
on
the
Z
Class
and
waives
or
bears
the
Z
Class’s
other
operating
expenses,
with
certain
exceptions.
The
Board
considered
whether
the
advisory
fee
and
operating
expense
waivers
on
the
Z
Class
may
present
a
means
for
cross-subsidization
of
the
Z
Class
by
other
share
classes
of
the
fund.
In
that
regard,
the
Board
noted
that
the
Z
Class
operating
expenses
are
largely
covered
by
the
all-inclusive
fees
charged
by
the
investing
T.
Rowe
Price
fund
of
funds
and
that
any
Z
Class
operating
expenses
not
covered
by
the
investing
T.
Rowe
Price
fund
of
funds’
fees
are
paid
by
the
Adviser
and
not
by
shareholders
of
any
other
share
class
of
the
fund.
In
addition,
the
Board
noted
that
the
fund
potentially
shares
in
indirect
economies
of
scale
through
the
Adviser’s
ongoing
investments
in
its
business
in
support
of
the
T.
Rowe
Price
funds,
including
investments
in
trading
systems,
technology,
and
regulatory
support
enhancements,
and
the
ability
to
possibly
negotiate
lower
fee
arrangements
with
third-
party
service
providers.
The
Board
concluded
that
the
advisory
fee
structure
for
the
fund
provides
for
a
reasonable
sharing
of
benefits
from
any
economies
of
scale
with
the
fund’s
investors.
Fees
and
Expenses
The
Board
was
provided
with
information
regarding
industry
trends
in
management
fees
and
expenses.
Among
other
things,
the
Board
reviewed
data
for
peer
groups
that
were
compiled
by
Broadridge,
which
compared:
(i)
contractual
management
fees,
actual
management
fees,
nonmanagement
expenses,
and
total
expenses
of
the
Investor
Class
of
the
fund
with
a
group
of
competitor
funds
selected
by
Broadridge
(Expense
Group)
and
(ii)
actual
management
fees,
nonmanagement
expenses,
and
total
expenses
of
the
Investor
Class
of
the
fund
with
a
broader
set
of
funds
within
the
Lipper
investment
classification
(Expense
Universe).
The
Board
considered
the
fund’s
contractual
management
fee
rate,
actual
management
fee
rate
(which
reflects
the
management
fees
actually
received
from
the
fund
by
the
Adviser
after
any
applicable
waivers,
reductions,
APPROVAL
OF
INVESTMENT
MANAGEMENT
AGREEMENT
AND
SUBADVISORY
AGREEMENT
(continued)
T.
ROWE
PRICE
Small-Cap
Index
Fund
or
reimbursements),
operating
expenses,
and
total
expenses
(which
reflect
the
net
total
expense
ratio
of
the
fund
after
any
waivers,
reductions,
or
reimbursements)
in
comparison
with
the
information
for
the
Broadridge
peer
groups.
Broadridge
generally
constructed
the
peer
groups
by
seeking
the
most
comparable
funds
based
on
similar
investment
classifications
and
objectives,
expense
structure,
asset
size,
and
operating
components
and
attributes
and
ranked
funds
into
quintiles,
with
the
first
quintile
representing
the
funds
with
the
lowest
relative
expenses
and
the
fifth
quintile
representing
the
funds
with
the
highest
relative
expenses.
The
information
provided
to
the
Board
indicated
that
the
fund’s
contractual
management
fee
ranked
in
the
first
quintile
(Expense
Group),
the
fund’s
actual
management
fee
rate
ranked
in
the
first
quintile
(Expense
Group
and
Expense
Universe),
and
the
fund’s
total
expenses
ranked
in
the
second
quintile
(Expense
Group)
and
third
quintile
(Expense
Universe).
The
Board
also
reviewed
the
fee
schedules
for
other
investment
portfolios
with
similar
mandates
that
are
advised
or
subadvised
by
the
Adviser
and
its
affiliates,
including
separately
managed
accounts
for
institutional
and
individual
investors;
subadvised
funds;
and
other
sponsored
investment
portfolios,
including
collective
investment
trusts
and
pooled
vehicles
organized
and
offered
to
investors
outside
the
United
States.
Management
provided
the
Board
with
information
about
the
Adviser’s
responsibilities
and
services
provided
to
subadvisory
and
other
institutional
account
clients,
including
information
about
how
the
requirements
and
economics
of
the
institutional
business
are
fundamentally
different
from
those
of
the
proprietary
mutual
fund
business.
The
Board
considered
information
showing
that
the
Adviser’s
mutual
fund
business
is
generally
more
complex
from
a
business
and
compliance
perspective
than
its
institutional
account
business
and
considered
various
relevant
factors,
such
as
the
broader
scope
of
operations
and
oversight,
more
extensive
shareholder
communication
infrastructure,
greater
asset
flows,
heightened
business
risks,
and
differences
in
applicable
laws
and
regulations
associated
with
the
Adviser’s
proprietary
mutual
fund
business.
In
assessing
the
reasonableness
of
the
fund’s
management
fee
rate,
the
Board
considered
the
differences
in
the
nature
of
the
services
required
for
the
Adviser
to
manage
its
mutual
fund
business
versus
managing
a
discrete
pool
of
assets
as
a
subadviser
to
another
institution’s
mutual
fund
or
for
an
institutional
account
and
that
the
Adviser
generally
performs
significant
additional
services
and
assumes
greater
risk
in
managing
the
fund
and
other
T.
Rowe
Price
funds
than
it
does
for
institutional
account
clients,
including
subadvised
funds.
On
the
basis
of
the
information
provided
and
the
factors
considered,
the
Board
concluded
that
the
fees
paid
by
the
fund
under
the
Advisory
Contract
are
reasonable.
APPROVAL
OF
INVESTMENT
MANAGEMENT
AGREEMENT
AND
SUBADVISORY
AGREEMENT
(continued)
T.
ROWE
PRICE
Small-Cap
Index
Fund
Approval
of
the
Advisory
Contract
and
Subadvisory
Contract
As
noted,
the
Board
approved
the
continuation
of
the
Advisory
Contract
and
Subadvisory
Contract.
No
single
factor
was
considered
in
isolation
or
to
be
determinative
to
the
decision.
Rather,
the
Board
concluded,
in
light
of
a
weighting
and
balancing
of
all
factors
considered,
that
it
was
in
the
best
interests
of
the
fund
and
its
shareholders
for
the
Board
to
approve
the
continuation
of
the
Advisory
Contract
and
Subadvisory
Contract
(including
the
fees
to
be
charged
for
services
thereunder).
APPROVAL
OF
INVESTMENT
MANAGEMENT
AGREEMENT
AND
SUBADVISORY
AGREEMENT
(continued)
100
East
Pratt
Street
Baltimore,
MD
21202
T.
Rowe
Price
Investment
Services,
Inc.
Call
1-800-225-5132
to
request
a
prospectus
or
summary
prospectus;
each
includes
investment
objectives,
risks,
fees,
expenses,
and
other
information
that
you
should
read
and
consider
carefully
before
investing.
F33-051
8/23
Item 1. (b) Notice pursuant to Rule 30e-3.
Not applicable.
Item 2. Code of Ethics.
A code of ethics, as defined in Item 2 of Form N-CSR, applicable to its principal executive
officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions is filed as an exhibit to the registrants annual Form N-CSR. No substantive
amendments were approved or waivers were granted to this code of ethics during the registrants most recent fiscal half-year.
Item 3. Audit Committee Financial Expert.
Disclosure required in registrants annual Form N-CSR.
Item 4. Principal Accountant Fees and Services.
Disclosure required in registrants annual Form N-CSR.
Item 5. Audit Committee of Listed Registrants.
Not applicable.
Item 6. Investments.
(a) Not applicable. The complete schedule of investments is included in Item 1 of this Form N-CSR.
(b) Not applicable.
Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment
Companies.
Not applicable.
Item 8. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable.
Item 9. Purchases of Equity
Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable.
Item 10. Submission of Matters to a Vote of Security Holders.
There has been no change to the procedures by which shareholders may recommend nominees to the registrants board of directors.
Item 11. Controls and Procedures.
(a) The registrants principal executive officer and principal financial officer have evaluated the registrants
disclosure controls and procedures within 90 days of this filing and have concluded that the registrants disclosure controls and procedures were effective, as of that date, in ensuring that information required to be disclosed by the
registrant in this Form N-CSR was recorded, processed, summarized, and reported timely.
(b)
The registrants principal executive officer and principal financial officer are aware of no change in the registrants internal control over financial reporting that occurred during the period covered by this report that has
materially affected, or is reasonably likely to materially affect, the registrants internal control over financial reporting.
Item 12.
Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.
Not applicable.
Item 13. Exhibits.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused
this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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|
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T. Rowe Price Index Trust, Inc. |
|
|
|
By |
|
/s/ David Oestreicher |
|
|
|
|
David Oestreicher |
|
|
|
|
Principal Executive Officer |
|
|
|
|
|
Date |
|
August 18, 2023 |
|
|
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940,
this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
|
|
|
|
|
By |
|
/s/ David Oestreicher |
|
|
|
|
David Oestreicher |
|
|
|
|
Principal Executive Officer |
|
|
|
|
|
Date |
|
August 18, 2023 |
|
|
|
|
|
|
|
By |
|
/s/ Alan S. Dupski |
|
|
|
|
Alan S. Dupski |
|
|
|
|
Principal Financial Officer |
|
|
|
|
|
Date |
|
August 18, 2023 |
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