T.

ROWE

PRICE

Equity

Index

500

Fund

September

30,

2022

(Unaudited)

1

Portfolio

of

Investments

‡

Shares/Par

$

Value

(Cost

and

value

in

$000s)

‡

COMMON

STOCKS

99.7%

COMMUNICATION

SERVICES

8.1%

Diversified

Telecommunication

Services

0.9%

AT&T 

5,055,130‌

77,546‌

Lumen

Technologies (1)

660,138‌

4,806‌

Verizon

Communications 

2,983,759‌

113,293‌

195,645‌

Entertainment

1.4%

Activision

Blizzard 

501,373‌

37,272‌

Electronic

Arts 

190,517‌

22,045‌

Live

Nation

Entertainment (2)

96,747‌

7,356‌

Netflix (2)

315,251‌

74,223‌

Take-Two

Interactive

Software (2)

112,834‌

12,299‌

Walt

Disney (2)

1,295,872‌

122,239‌

Warner

Bros

Discovery (2)

1,574,676‌

18,109‌

293,543‌

Interactive

Media

&

Services

4.8%

Alphabet,

Class

A (2)

4,271,549‌

408,574‌

Alphabet,

Class

C (2)

3,815,269‌

366,838‌

Match

Group (2)

202,290‌

9,659‌

Meta

Platforms,

Class

A (2)

1,625,800‌

220,589‌

Twitter (2)

468,871‌

20,555‌

1,026,215‌

Media

0.7%

Charter

Communications,

Class

A (2)

79,757‌

24,194‌

Comcast,

Class

A 

3,122,967‌

91,597‌

DISH

Network,

Class

A (2)

179,354‌

2,481‌

Fox,

Class

A 

223,180‌

6,847‌

Fox,

Class

B 

104,314‌

2,973‌

Interpublic

Group 

281,685‌

7,211‌

News,

Class

A 

279,221‌

4,219‌

News,

Class

B 

88,388‌

1,363‌

Omnicom

Group 

147,071‌

9,279‌

Paramount

Global,

Class

B (1)

371,922‌

7,081‌

157,245‌

Wireless

Telecommunication

Services

0.3%

T-Mobile

U.S. (2)

426,153‌

57,177‌

57,177‌

Total

Communication

Services

1,729,825‌

T.

ROWE

PRICE

Equity

Index

500

Fund

1

T.

ROWE

PRICE

Equity

Index

500

Fund

2

Shares/Par

$

Value

(Cost

and

value

in

$000s)

‡

CONSUMER

DISCRETIONARY

11.6%

Auto

Components

0.1%

Aptiv (2)

193,156‌

15,107‌

BorgWarner 

171,547‌

5,386‌

20,493‌

Automobiles

2.6%

Ford

Motor 

2,805,037‌

31,416‌

General

Motors 

1,036,167‌

33,251‌

Tesla (2)

1,897,383‌

503,281‌

567,948‌

Distributors

0.2%

Genuine

Parts 

100,093‌

14,946‌

LKQ 

186,028‌

8,771‌

Pool 

28,489‌

9,066‌

32,783‌

Hotels,

Restaurants

&

Leisure

1.9%

Booking

Holdings (2)

28,446‌

46,743‌

Caesars

Entertainment (2)

152,524‌

4,920‌

Carnival (1)(2)

687,241‌

4,831‌

Chipotle

Mexican

Grill (2)

19,930‌

29,950‌

Darden

Restaurants 

89,131‌

11,259‌

Domino's

Pizza 

25,758‌

7,990‌

Expedia

Group (2)

107,446‌

10,067‌

Hilton

Worldwide

Holdings 

197,245‌

23,792‌

Las

Vegas

Sands (2)

222,630‌

8,353‌

Marriott

International,

Class

A 

195,137‌

27,347‌

McDonald's 

523,032‌

120,684‌

MGM

Resorts

International 

240,589‌

7,150‌

Norwegian

Cruise

Line

Holdings (2)

299,557‌

3,403‌

Royal

Caribbean

Cruises (2)

159,971‌

6,063‌

Starbucks 

816,636‌

68,810‌

Wynn

Resorts (2)

75,681‌

4,770‌

Yum!

Brands 

203,289‌

21,618‌

407,750‌

Household

Durables

0.3%

DR

Horton 

228,596‌

15,396‌

Garmin 

108,552‌

8,718‌

Lennar,

Class

A 

184,641‌

13,765‌

Mohawk

Industries (2)

36,964‌

3,371‌

Newell

Brands 

264,099‌

3,668‌

NVR (2)

2,209‌

8,807‌

PulteGroup 

170,174‌

6,382‌

T.

ROWE

PRICE

Equity

Index

500

Fund

3

Shares/Par

$

Value

(Cost

and

value

in

$000s)

‡

Whirlpool 

40,264‌

5,428‌

65,535‌

Internet

&

Direct

Marketing

Retail

3.4%

Amazon.com (2)

6,315,201‌

713,618‌

eBay 

398,090‌

14,654‌

Etsy (1)(2)

90,974‌

9,109‌

737,381‌

Leisure

Products

0.0%

Hasbro 

92,471‌

6,234‌

6,234‌

Multiline

Retail

0.5%

Dollar

General 

162,468‌

38,970‌

Dollar

Tree (2)

147,215‌

20,036‌

Target 

329,336‌

48,870‌

107,876‌

Specialty

Retail

2.2%

Advance

Auto

Parts 

43,713‌

6,834‌

AutoZone (2)

13,682‌

29,306‌

Bath

&

Body

Works 

166,341‌

5,423‌

Best

Buy 

144,638‌

9,161‌

CarMax (2)

113,914‌

7,521‌

Home

Depot 

732,024‌

201,995‌

Lowe's 

453,020‌

85,082‌

O'Reilly

Automotive (2)

44,809‌

31,516‌

Ross

Stores 

250,639‌

21,121‌

TJX 

836,432‌

51,959‌

Tractor

Supply 

79,831‌

14,839‌

Ulta

Beauty (2)

36,932‌

14,817‌

479,574‌

Textiles,

Apparel

&

Luxury

Goods

0.4%

NIKE,

Class

B 

896,886‌

74,549‌

Ralph

Lauren 

32,583‌

2,767‌

Tapestry 

180,553‌

5,133‌

VF 

227,671‌

6,810‌

89,259‌

Total

Consumer

Discretionary

2,514,833‌

CONSUMER

STAPLES

6.9%

Beverages

1.9%

Brown-Forman,

Class

B 

129,087‌

8,593‌

Coca-Cola 

2,772,696‌

155,327‌

Constellation

Brands,

Class

A 

111,643‌

25,642‌

Keurig

Dr

Pepper 

594,469‌

21,294‌

T.

ROWE

PRICE

Equity

Index

500

Fund

4

Shares/Par

$

Value

(Cost

and

value

in

$000s)

‡

Molson

Coors

Beverage,

Class

B 

134,792‌

6,469‌

Monster

Beverage (2)

269,409‌

23,428‌

PepsiCo 

982,613‌

160,421‌

401,174‌

Food

&

Staples

Retailing

1.6%

Costco

Wholesale 

314,976‌

148,754‌

Kroger 

467,725‌

20,463‌

Sysco 

362,019‌

25,598‌

Walgreens

Boots

Alliance 

510,167‌

16,019‌

Walmart 

1,013,024‌

131,389‌

342,223‌

Food

Products

1.1%

Archer-Daniels-Midland 

399,326‌

32,126‌

Campbell

Soup 

141,878‌

6,685‌

Conagra

Brands 

339,501‌

11,078‌

General

Mills 

418,816‌

32,086‌

Hershey 

103,730‌

22,869‌

Hormel

Foods 

202,179‌

9,187‌

J

M

Smucker 

76,649‌

10,532‌

Kellogg 

180,912‌

12,602‌

Kraft

Heinz 

555,759‌

18,535‌

Lamb

Weston

Holdings 

102,839‌

7,958‌

McCormick 

178,491‌

12,721‌

Mondelez

International,

Class

A 

968,691‌

53,113‌

Tyson

Foods,

Class

A 

207,945‌

13,710‌

243,202‌

Household

Products

1.4%

Church

&

Dwight 

172,840‌

12,348‌

Clorox 

86,953‌

11,164‌

Colgate-Palmolive 

596,776‌

41,923‌

Kimberly-Clark 

240,059‌

27,016‌

Procter

&

Gamble 

1,703,460‌

215,062‌

307,513‌

Personal

Products

0.2%

Estee

Lauder,

Class

A 

165,112‌

35,648‌

35,648‌

Tobacco

0.7%

Altria

Group 

1,289,327‌

52,063‌

Philip

Morris

International 

1,102,233‌

91,496‌

143,559‌

Total

Consumer

Staples

1,473,319‌

T.

ROWE

PRICE

Equity

Index

500

Fund

5

Shares/Par

$

Value

(Cost

and

value

in

$000s)

‡

ENERGY

4.6%

Energy

Equipment

&

Services

0.3%

Baker

Hughes 

704,079‌

14,758‌

Halliburton 

641,368‌

15,790‌

Schlumberger 

1,003,487‌

36,025‌

66,573‌

Oil,

Gas

&

Consumable

Fuels

4.3%

APA 

239,410‌

8,185‌

Chevron 

1,279,899‌

183,883‌

ConocoPhillips 

902,672‌

92,379‌

Coterra

Energy 

575,000‌

15,019‌

Devon

Energy 

460,783‌

27,707‌

Diamondback

Energy 

123,611‌

14,890‌

EOG

Resources 

417,002‌

46,592‌

EQT 

264,381‌

10,774‌

Exxon

Mobil 

2,964,067‌

258,793‌

Hess 

196,732‌

21,442‌

Kinder

Morgan 

1,390,591‌

23,139‌

Marathon

Oil 

493,310‌

11,139‌

Marathon

Petroleum 

350,901‌

34,855‌

Occidental

Petroleum 

523,910‌

32,194‌

ONEOK 

318,399‌

16,315‌

Phillips

66 

342,835‌

27,674‌

Pioneer

Natural

Resources 

168,431‌

36,470‌

Valero

Energy 

276,666‌

29,562‌

Williams 

864,004‌

24,736‌

915,748‌

Total

Energy

982,321‌

FINANCIALS

11.0%

Banks

3.7%

Bank

of

America 

4,965,915‌

149,971‌

Citigroup 

1,382,697‌

57,617‌

Citizens

Financial

Group 

350,201‌

12,033‌

Comerica 

91,819‌

6,528‌

Fifth

Third

Bancorp 

488,403‌

15,609‌

First

Republic

Bank 

127,404‌

16,633‌

Huntington

Bancshares 

1,018,265‌

13,421‌

JPMorgan

Chase 

2,087,068‌

218,099‌

KeyCorp 

664,496‌

10,645‌

M&T

Bank 

122,677‌

21,630‌

PNC

Financial

Services

Group 

289,318‌

43,230‌

Regions

Financial 

666,014‌

13,367‌

Signature

Bank 

44,939‌

6,786‌

SVB

Financial

Group (2)

41,954‌

14,087‌

T.

ROWE

PRICE

Equity

Index

500

Fund

6

Shares/Par

$

Value

(Cost

and

value

in

$000s)

‡

Truist

Financial 

948,272‌

41,288‌

U.S.

Bancorp 

960,304‌

38,719‌

Wells

Fargo 

2,694,568‌

108,375‌

Zions

Bancorp 

108,370‌

5,512‌

793,550‌

Capital

Markets

3.0%

Ameriprise

Financial 

78,102‌

19,678‌

Bank

of

New

York

Mellon 

528,086‌

20,342‌

BlackRock 

106,821‌

58,781‌

Cboe

Global

Markets 

75,950‌

8,914‌

Charles

Schwab 

1,082,788‌

77,820‌

CME

Group 

255,955‌

45,337‌

FactSet

Research

Systems 

27,017‌

10,810‌

Franklin

Resources 

197,629‌

4,253‌

Goldman

Sachs

Group 

242,324‌

71,013‌

Intercontinental

Exchange 

397,688‌

35,931‌

Invesco 

298,755‌

4,093‌

MarketAxess

Holdings 

27,022‌

6,012‌

Moody's 

113,477‌

27,587‌

Morgan

Stanley 

948,552‌

74,945‌

MSCI 

57,817‌

24,387‌

Nasdaq 

233,894‌

13,257‌

Northern

Trust 

148,481‌

12,704‌

Raymond

James

Financial 

138,795‌

13,716‌

S&P

Global 

241,312‌

73,685‌

State

Street 

261,444‌

15,898‌

T.

Rowe

Price

Group (3)

161,469‌

16,956‌

636,119‌

Consumer

Finance

0.5%

American

Express 

429,355‌

57,924‌

Capital

One

Financial 

276,298‌

25,466‌

Discover

Financial

Services 

197,468‌

17,954‌

Synchrony

Financial 

351,881‌

9,920‌

111,264‌

Diversified

Financial

Services

1.6%

Berkshire

Hathaway,

Class

B (2)

1,285,143‌

343,159‌

343,159‌

Insurance

2.2%

Aflac 

414,564‌

23,298‌

Allstate 

189,100‌

23,549‌

American

International

Group 

547,173‌

25,980‌

Aon,

Class

A 

150,850‌

40,408‌

Arthur

J

Gallagher 

148,956‌

25,504‌

Assurant 

37,970‌

5,516‌

T.

ROWE

PRICE

Equity

Index

500

Fund

7

Shares/Par

$

Value

(Cost

and

value

in

$000s)

‡

Brown

&

Brown 

166,760‌

10,086‌

Chubb 

295,166‌

53,685‌

Cincinnati

Financial 

109,301‌

9,790‌

Everest

Re

Group 

28,242‌

7,412‌

Globe

Life 

64,955‌

6,476‌

Hartford

Financial

Services

Group 

223,256‌

13,828‌

Lincoln

National 

115,921‌

5,090‌

Loews 

139,069‌

6,931‌

Marsh

&

McLennan 

352,614‌

52,642‌

MetLife 

481,824‌

29,285‌

Principal

Financial

Group 

165,887‌

11,969‌

Progressive 

416,607‌

48,414‌

Prudential

Financial 

267,224‌

22,922‌

Travelers 

170,855‌

26,175‌

W

R

Berkley 

148,136‌

9,567‌

Willis

Towers

Watson 

79,546‌

15,984‌

474,511‌

Total

Financials

2,358,603‌

HEALTH

CARE

15.0%

Biotechnology

2.2%

AbbVie 

1,257,532‌

168,773‌

Amgen 

379,513‌

85,542‌

Biogen (2)

104,256‌

27,836‌

Gilead

Sciences 

893,191‌

55,101‌

Incyte (2)

134,545‌

8,966‌

Moderna (2)

241,866‌

28,601‌

Regeneron

Pharmaceuticals (2)

75,742‌

52,177‌

Vertex

Pharmaceuticals (2)

181,701‌

52,610‌

479,606‌

Health

Care

Equipment

&

Supplies

2.7%

Abbott

Laboratories 

1,244,456‌

120,414‌

ABIOMED (2)

32,439‌

7,969‌

Align

Technology (2)

52,333‌

10,839‌

Baxter

International 

356,984‌

19,227‌

Becton

Dickinson

&

Company 

202,828‌

45,196‌

Boston

Scientific (2)

1,015,267‌

39,321‌

Cooper 

35,219‌

9,294‌

DENTSPLY

SIRONA 

154,521‌

4,381‌

Dexcom (2)

278,176‌

22,404‌

Edwards

Lifesciences (2)

442,854‌

36,593‌

Hologic (2)

178,152‌

11,494‌

IDEXX

Laboratories (2)

59,896‌

19,514‌

Intuitive

Surgical (2)

255,076‌

47,811‌

Medtronic 

946,786‌

76,453‌

T.

ROWE

PRICE

Equity

Index

500

Fund

8

Shares/Par

$

Value

(Cost

and

value

in

$000s)

‡

ResMed 

104,291‌

22,767‌

STERIS 

71,240‌

11,846‌

Stryker 

239,321‌

48,472‌

Teleflex 

33,329‌

6,715‌

Zimmer

Biomet

Holdings 

149,394‌

15,619‌

576,329‌

Health

Care

Providers

&

Services

3.6%

AmerisourceBergen 

107,823‌

14,592‌

Cardinal

Health 

194,648‌

12,979‌

Centene (2)

410,675‌

31,955‌

Cigna 

215,811‌

59,881‌

CVS

Health 

931,821‌

88,868‌

DaVita (2)

34,528‌

2,858‌

Elevance

Health 

170,234‌

77,327‌

HCA

Healthcare 

154,781‌

28,447‌

Henry

Schein (2)

98,786‌

6,497‌

Humana 

90,097‌

43,714‌

Laboratory

Corp.

of

America

Holdings 

62,332‌

12,766‌

McKesson 

101,129‌

34,371‌

Molina

Healthcare (2)

41,794‌

13,785‌

Quest

Diagnostics 

83,825‌

10,285‌

UnitedHealth

Group 

666,029‌

336,371‌

Universal

Health

Services,

Class

B 

46,867‌

4,133‌

778,829‌

Life

Sciences

Tools

&

Services

1.9%

Agilent

Technologies 

213,910‌

26,001‌

Bio-Rad

Laboratories,

Class

A (2)

15,428‌

6,436‌

Bio-Techne 

28,032‌

7,961‌

Charles

River

Laboratories

International (2)

35,953‌

7,075‌

Danaher 

465,249‌

120,169‌

Illumina (2)

111,549‌

21,282‌

IQVIA

Holdings (2)

134,287‌

24,325‌

Mettler-Toledo

International (2)

16,176‌

17,537‌

PerkinElmer 

90,063‌

10,837‌

Thermo

Fisher

Scientific 

278,546‌

141,276‌

Waters (2)

42,992‌

11,588‌

West

Pharmaceutical

Services 

52,423‌

12,900‌

407,387‌

Pharmaceuticals

4.6%

Bristol-Myers

Squibb 

1,516,385‌

107,800‌

Catalent (2)

126,963‌

9,187‌

Eli

Lilly 

560,870‌

181,357‌

Johnson

&

Johnson 

1,871,796‌

305,777‌

Merck 

1,801,141‌

155,114‌

T.

ROWE

PRICE

Equity

Index

500

Fund

9

Shares/Par

$

Value

(Cost

and

value

in

$000s)

‡

Organon 

181,724‌

4,252‌

Pfizer 

3,991,911‌

174,686‌

Viatris 

865,227‌

7,372‌

Zoetis 

335,128‌

49,696‌

995,241‌

Total

Health

Care

3,237,392‌

INDUSTRIALS

&

BUSINESS

SERVICES

7.9%

Aerospace

&

Defense

1.6%

Boeing (2)

396,033‌

47,952‌

General

Dynamics 

161,521‌

34,270‌

Howmet

Aerospace 

269,008‌

8,320‌

Huntington

Ingalls

Industries 

28,084‌

6,221‌

L3Harris

Technologies 

137,419‌

28,560‌

Lockheed

Martin 

168,623‌

65,137‌

Northrop

Grumman 

104,062‌

48,943‌

Raytheon

Technologies 

1,050,231‌

85,972‌

Textron 

153,777‌

8,959‌

TransDigm

Group 

36,981‌

19,408‌

353,742‌

Air

Freight

&

Logistics

0.6%

CH

Robinson

Worldwide 

90,868‌

8,752‌

Expeditors

International

of

Washington 

111,767‌

9,870‌

FedEx 

169,848‌

25,217‌

United

Parcel

Service,

Class

B 

519,473‌

83,916‌

127,755‌

Airlines

0.2%

Alaska

Air

Group (2)

88,874‌

3,479‌

American

Airlines

Group (2)

462,358‌

5,567‌

Delta

Air

Lines (2)

453,115‌

12,714‌

Southwest

Airlines (2)

423,148‌

13,050‌

United

Airlines

Holdings (2)

230,663‌

7,504‌

42,314‌

Building

Products

0.4%

A.O.

Smith 

93,314‌

4,533‌

Allegion 

62,664‌

5,620‌

Carrier

Global 

604,769‌

21,506‌

Fortune

Brands

Home

&

Security 

93,787‌

5,035‌

Johnson

Controls

International 

495,888‌

24,408‌

Masco 

151,517‌

7,074‌

Trane

Technologies 

165,751‌

24,002‌

92,178‌

Commercial

Services

&

Supplies

0.5%

Cintas 

60,163‌

23,355‌

T.

ROWE

PRICE

Equity

Index

500

Fund

10

Shares/Par

$

Value

(Cost

and

value

in

$000s)

‡

Copart (2)

152,514‌

16,228‌

Republic

Services 

147,701‌

20,093‌

Rollins 

160,351‌

5,561‌

Waste

Management 

265,286‌

42,501‌

107,738‌

Construction

&

Engineering

0.1%

Quanta

Services 

101,909‌

12,982‌

12,982‌

Electrical

Equipment

0.5%

AMETEK 

164,692‌

18,678‌

Eaton 

284,219‌

37,903‌

Emerson

Electric 

421,650‌

30,873‌

Generac

Holdings (2)

45,103‌

8,035‌

Rockwell

Automation 

82,826‌

17,817‌

113,306‌

Industrial

Conglomerates

0.9%

3M 

394,297‌

43,570‌

General

Electric 

783,699‌

48,519‌

Honeywell

International 

480,650‌

80,254‌

Roper

Technologies 

75,252‌

27,063‌

199,406‌

Machinery

1.6%

Caterpillar 

373,471‌

61,279‌

Cummins 

100,622‌

20,478‌

Deere 

198,787‌

66,373‌

Dover 

102,880‌

11,994‌

Fortive 

255,847‌

14,916‌

IDEX 

54,323‌

10,856‌

Illinois

Tool

Works 

201,899‌

36,473‌

Ingersoll

Rand 

289,981‌

12,545‌

Nordson 

38,556‌

8,184‌

Otis

Worldwide 

301,459‌

19,233‌

PACCAR 

247,948‌

20,751‌

Parker-Hannifin 

91,337‌

22,132‌

Pentair 

118,635‌

4,820‌

Snap-on 

37,787‌

7,608‌

Stanley

Black

&

Decker 

107,844‌

8,111‌

Westinghouse

Air

Brake

Technologies 

130,486‌

10,615‌

Xylem 

128,698‌

11,243‌

347,611‌

Professional

Services

0.4%

CoStar

Group (2)

282,270‌

19,660‌

Equifax 

87,171‌

14,944‌

T.

ROWE

PRICE

Equity

Index

500

Fund

11

Shares/Par

$

Value

(Cost

and

value

in

$000s)

‡

Jacobs

Solutions 

91,872‌

9,967‌

Leidos

Holdings 

97,677‌

8,544‌

Nielsen

Holdings 

257,819‌

7,147‌

Robert

Half

International 

78,712‌

6,021‌

Verisk

Analytics 

111,864‌

19,076‌

85,359‌

Road

&

Rail

0.9%

CSX 

1,535,597‌

40,908‌

JB

Hunt

Transport

Services 

59,922‌

9,373‌

Norfolk

Southern 

168,593‌

35,345‌

Old

Dominion

Freight

Line 

65,501‌

16,295‌

Union

Pacific 

443,639‌

86,430‌

188,351‌

Trading

Companies

&

Distributors

0.2%

Fastenal 

410,437‌

18,897‌

United

Rentals (2)

48,273‌

13,039‌

WW

Grainger 

31,491‌

15,405‌

47,341‌

Total

Industrials

&

Business

Services

1,718,083‌

INFORMATION

TECHNOLOGY

26.1%

Communications

Equipment

0.8%

Arista

Networks (2)

172,128‌

19,432‌

Cisco

Systems 

2,942,410‌

117,696‌

F5 (2)

42,672‌

6,176‌

Juniper

Networks 

231,398‌

6,044‌

Motorola

Solutions 

119,245‌

26,707‌

176,055‌

Electronic

Equipment,

Instruments

&

Components

0.6%

Amphenol,

Class

A 

425,566‌

28,496‌

CDW 

96,413‌

15,048‌

Corning 

538,140‌

15,617‌

Keysight

Technologies (2)

128,847‌

20,275‌

TE

Connectivity 

229,663‌

25,346‌

Teledyne

Technologies (2)

33,245‌

11,219‌

Trimble (2)

178,736‌

9,700‌

Zebra

Technologies,

Class

A (2)

37,512‌

9,829‌

135,530‌

IT

Services

4.4%

Accenture,

Class

A 

449,413‌

115,634‌

Akamai

Technologies (2)

114,532‌

9,199‌

Automatic

Data

Processing 

294,515‌

66,616‌

Broadridge

Financial

Solutions 

83,555‌

12,059‌

Cognizant

Technology

Solutions,

Class

A 

371,470‌

21,337‌

T.

ROWE

PRICE

Equity

Index

500

Fund

12

Shares/Par

$

Value

(Cost

and

value

in

$000s)

‡

DXC

Technology (2)

173,890‌

4,257‌

EPAM

Systems (2)

40,367‌

14,621‌

Fidelity

National

Information

Services 

433,827‌

32,784‌

Fiserv (2)

451,956‌

42,290‌

FleetCor

Technologies (2)

54,816‌

9,657‌

Gartner (2)

57,295‌

15,853‌

Global

Payments 

199,681‌

21,576‌

International

Business

Machines 

640,539‌

76,102‌

Jack

Henry

&

Associates 

51,392‌

9,367‌

Mastercard,

Class

A 

606,318‌

172,400‌

Paychex 

229,000‌

25,696‌

PayPal

Holdings (2)

820,106‌

70,587‌

VeriSign (2)

64,050‌

11,126‌

Visa,

Class

A 

1,162,355‌

206,492‌

937,653‌

Semiconductors

&

Semiconductor

Equipment

4.8%

Advanced

Micro

Devices (2)

1,145,385‌

72,572‌

Analog

Devices 

367,239‌

51,171‌

Applied

Materials 

614,492‌

50,345‌

Broadcom 

286,707‌

127,301‌

Enphase

Energy (2)

96,418‌

26,753‌

Intel 

2,912,642‌

75,059‌

KLA 

101,907‌

30,840‌

Lam

Research 

98,315‌

35,983‌

Microchip

Technology 

396,348‌

24,189‌

Micron

Technology 

777,227‌

38,939‌

Monolithic

Power

Systems 

30,957‌

11,250‌

NVIDIA 

1,781,863‌

216,300‌

NXP

Semiconductors 

187,119‌

27,602‌

ON

Semiconductor (2)

310,014‌

19,323‌

Qorvo (2)

68,238‌

5,419‌

QUALCOMM 

797,233‌

90,072‌

Skyworks

Solutions 

114,967‌

9,803‌

SolarEdge

Technologies (2)

39,567‌

9,158‌

Teradyne 

114,465‌

8,602‌

Texas

Instruments 

651,768‌

100,881‌

1,031,562‌

Software

8.4%

Adobe (2)

331,850‌

91,325‌

ANSYS (2)

61,677‌

13,674‌

Autodesk (2)

155,024‌

28,958‌

Cadence

Design

Systems (2)

196,086‌

32,046‌

Ceridian

HCM

Holding (2)

102,166‌

5,709‌

Citrix

Systems 

89,187‌

9,266‌

Fortinet (2)

457,549‌

22,479‌

T.

ROWE

PRICE

Equity

Index

500

Fund

13

Shares/Par

$

Value

(Cost

and

value

in

$000s)

‡

Intuit 

200,101‌

77,503‌

Microsoft 

5,311,094‌

1,236,954‌

NortonLifeLock 

415,322‌

8,365‌

Oracle 

1,075,087‌

65,656‌

Paycom

Software (2)

34,416‌

11,357‌

PTC (2)

74,758‌

7,820‌

Salesforce (2)

706,627‌

101,641‌

ServiceNow (2)

143,044‌

54,015‌

Synopsys (2)

109,079‌

33,325‌

Tyler

Technologies (2)

29,281‌

10,175‌

1,810,268‌

Technology

Hardware,

Storage

&

Peripherals

7.1%

Apple 

10,758,637‌

1,486,844‌

Hewlett

Packard

Enterprise 

924,938‌

11,081‌

HP 

658,974‌

16,422‌

NetApp 

157,428‌

9,737‌

Seagate

Technology

Holdings 

141,243‌

7,518‌

Western

Digital (2)

220,869‌

7,189‌

1,538,791‌

Total

Information

Technology

5,629,859‌

MATERIALS

2.5%

Chemicals

1.8%

Air

Products

&

Chemicals 

157,765‌

36,717‌

Albemarle 

83,378‌

22,048‌

Celanese 

73,627‌

6,651‌

CF

Industries

Holdings 

137,462‌

13,231‌

Corteva 

515,737‌

29,474‌

Dow 

517,842‌

22,749‌

DuPont

de

Nemours 

362,080‌

18,249‌

Eastman

Chemical 

90,934‌

6,461‌

Ecolab 

177,114‌

25,579‌

FMC 

89,525‌

9,463‌

International

Flavors

&

Fragrances 

180,612‌

16,405‌

Linde 

355,593‌

95,864‌

LyondellBasell

Industries,

Class

A 

184,607‌

13,897‌

Mosaic 

251,270‌

12,144‌

PPG

Industries 

168,431‌

18,644‌

Sherwin-Williams 

169,370‌

34,678‌

382,254‌

Construction

Materials

0.1%

Martin

Marietta

Materials 

44,519‌

14,339‌

Vulcan

Materials 

94,790‌

14,949‌

29,288‌

T.

ROWE

PRICE

Equity

Index

500

Fund

14

Shares/Par

$

Value

(Cost

and

value

in

$000s)

‡

Containers

&

Packaging

0.3%

Amcor 

1,072,727‌

11,510‌

Avery

Dennison 

58,410‌

9,503‌

Ball 

228,180‌

11,026‌

International

Paper 

261,596‌

8,293‌

Packaging

Corp.

of

America 

67,004‌

7,524‌

Sealed

Air 

103,980‌

4,628‌

Westrock 

182,421‌

5,635‌

58,119‌

Metals

&

Mining

0.3%

Freeport-McMoRan 

1,028,276‌

28,103‌

Newmont 

565,418‌

23,764‌

Nucor 

188,494‌

20,167‌

72,034‌

Total

Materials

541,695‌

REAL

ESTATE

2.8%

Equity

Real

Estate

Investment

Trusts

2.7%

Alexandria

Real

Estate

Equities,

REIT 

105,954‌

14,854‌

American

Tower,

REIT 

330,428‌

70,943‌

AvalonBay

Communities,

REIT 

99,179‌

18,268‌

Boston

Properties,

REIT 

101,558‌

7,614‌

Camden

Property

Trust,

REIT 

75,097‌

8,970‌

Crown

Castle,

REIT 

307,659‌

44,472‌

Digital

Realty

Trust,

REIT 

202,482‌

20,082‌

Duke

Realty,

REIT 

272,361‌

13,128‌

Equinix,

REIT 

64,857‌

36,893‌

Equity

Residential,

REIT 

243,298‌

16,355‌

Essex

Property

Trust,

REIT 

46,476‌

11,258‌

Extra

Space

Storage,

REIT 

95,732‌

16,534‌

Federal

Realty

Investment

Trust,

REIT 

49,847‌

4,492‌

Healthpeak

Properties,

REIT 

380,539‌

8,722‌

Host

Hotels

&

Resorts,

REIT 

511,323‌

8,120‌

Invitation

Homes,

REIT 

413,366‌

13,959‌

Iron

Mountain,

REIT 

207,301‌

9,115‌

Kimco

Realty,

REIT 

435,326‌

8,014‌

Mid-America

Apartment

Communities,

REIT 

82,368‌

12,773‌

Prologis,

REIT 

526,185‌

53,460‌

Public

Storage,

REIT 

111,294‌

32,588‌

Realty

Income,

REIT 

433,671‌

25,240‌

Regency

Centers,

REIT 

108,833‌

5,861‌

SBA

Communications,

REIT 

76,767‌

21,852‌

Simon

Property

Group,

REIT 

234,087‌

21,009‌

UDR,

REIT 

213,940‌

8,923‌

Ventas,

REIT 

282,722‌

11,357‌

T.

ROWE

PRICE

Equity

Index

500

Fund

15

Shares/Par

$

Value

(Cost

and

value

in

$000s)

‡

VICI

Properties,

REIT 

686,649‌

20,497‌

Vornado

Realty

Trust,

REIT 

113,559‌

2,630‌

Welltower,

REIT 

324,582‌

20,877‌

Weyerhaeuser,

REIT 

528,411‌

15,091‌

583,951‌

Real

Estate

Management

&

Development

0.1%

CBRE

Group,

Class

A (2)

232,477‌

15,694‌

15,694‌

Total

Real

Estate

599,645‌

UTILITIES

3.2%

Electric

Utilities

2.0%

Alliant

Energy 

179,242‌

9,498‌

American

Electric

Power 

365,862‌

31,629‌

Constellation

Energy 

232,442‌

19,337‌

Duke

Energy 

548,237‌

50,997‌

Edison

International 

270,169‌

15,286‌

Entergy 

143,957‌

14,486‌

Evergy 

163,947‌

9,739‌

Eversource

Energy 

244,387‌

19,052‌

Exelon 

698,437‌

26,163‌

FirstEnergy 

393,783‌

14,570‌

NextEra

Energy 

1,395,817‌

109,446‌

NRG

Energy 

169,981‌

6,505‌

PG&E (2)

1,150,661‌

14,383‌

Pinnacle

West

Capital 

81,128‌

5,234‌

PPL 

525,225‌

13,315‌

Southern 

755,023‌

51,342‌

Xcel

Energy 

386,394‌

24,729‌

435,711‌

Gas

Utilities

0.1%

Atmos

Energy 

98,131‌

9,995‌

9,995‌

Independent

Power

&

Renewable

Electricity

Producers

0.1%

AES 

472,563‌

10,680‌

10,680‌

Multi-Utilities

0.9%

Ameren 

183,021‌

14,742‌

CenterPoint

Energy 

449,675‌

12,672‌

CMS

Energy 

207,176‌

12,066‌

Consolidated

Edison 

252,380‌

21,644‌

Dominion

Energy 

588,318‌

40,659‌

DTE

Energy 

138,196‌

15,899‌

NiSource 

285,742‌

7,198‌

T.

ROWE

PRICE

Equity

Index

500

Fund

16

Shares/Par

$

Value

(Cost

and

value

in

$000s)

‡

Public

Service

Enterprise

Group 

355,932‌

20,014‌

Sempra

Energy 

223,111‌

33,453‌

WEC

Energy

Group 

224,876‌

20,111‌

198,458‌

Water

Utilities

0.1%

American

Water

Works 

129,646‌

16,875‌

16,875‌

Total

Utilities

671,719‌

Total

Common

Stocks

(Cost

$9,212,249)

21,457,294‌

SHORT-TERM

INVESTMENTS

0.3%

Money

Market

Funds

0.3%

T.

Rowe

Price

Government

Reserve

Fund,

3.07% (3)(4)

74,600,491‌

74,600‌

74,600‌

U.S.

Treasury

Obligations

0.0%

U.S.

Treasury

Bills,

3.279%,

2/16/23 (5)

5,490,000‌

5,416‌

5,416‌

Total

Short-Term

Investments

(Cost

$80,022)

80,016‌

SECURITIES

LENDING

COLLATERAL

0.0%

INVESTMENTS

IN

A

POOLED

ACCOUNT

THROUGH

SECURITIES

LENDING

PROGRAM

WITH

STATE

STREET

BANK

AND

TRUST

COMPANY

0.0%

Money

Market

Funds

0.0%

T.

Rowe

Price

Government

Reserve

Fund,

3.07% (3)(4)

9,590,997‌

9,591‌

Total

Investments

in

a

Pooled

Account

through

Securities

Lending

Program

with

State

Street

Bank

And

Trust

Company

9,591‌

Total

Securities

Lending

Collateral

(Cost

$9,591)

9,591‌

Total

Investments

in

Securities

100.0%

(Cost

$9,301,862)

$

21,546,901‌

Other

Assets

Less

Liabilities

(0.0)%

(9,870‌)

Net

Assets

100.0%

$

21,537,031‌

‡

Shares/Par

and

Notional

Amount

are

denominated

in

U.S.

dollars

unless

otherwise

noted.

(1)

All

or

a

portion

of

this

security

is

on

loan

at

September

30,

2022.

T.

ROWE

PRICE

Equity

Index

500

Fund

17

.

.

.

.

.

.

.

.

.

.

(2)

Non-income

producing

(3)

Affiliated

Companies

(4)

Seven-day

yield

(5)

At

September

30,

2022,

all

or

a

portion

of

this

security

is

pledged

as

collateral

and/or

margin

deposit

to

cover

future

funding

obligations.

REIT

A

domestic

Real

Estate

Investment

Trust

whose

distributions

pass-through

with

original

tax

character

to

the

shareholder

T.

ROWE

PRICE

Equity

Index

500

Fund

18

FUTURES

CONTRACTS

($000s)

Expiration

Date

Notional

Amount

Value

and

Unrealized

Gain

(Loss)

Long,

484

S&P

500

E-Mini

Index

Contracts

12/22

87,156

$

(10,650‌)

Net

payments

(receipts)

of

variation

margin

to

date

9,373‌

Variation

margin

receivable

(payable)

on

open

futures

contracts

$

(1,277‌)

T.

ROWE

PRICE

Equity

Index

500

Fund

19

The

accompanying

notes

are

an

integral

part

of

this

Portfolio

of

Investments.

AFFILIATED

COMPANIES

($000s)

The

fund

may

invest

in

certain

securities

that

are

considered

affiliated

companies.

As

defined

by

the

1940

Act,

an

affiliated

company

is

one

in

which

the

fund

owns

5%

or

more

of

the

outstanding

voting

securities,

or

a

company

that

is

under

common

ownership

or

control.

The

following

securities

were

considered

affiliated

companies

for

all

or

some

portion

of

the

nine

months

ended

September

30,

2022.

Net

realized

gain

(loss),

investment

income,

change

in

net

unrealized

gain/loss,

and

purchase

and

sales

cost

reflect

all

activity

for

the

period

then

ended.

Affiliate

Net

Realized

Gain

(Loss)

Change

in

Net

Unrealized

Gain/Loss

Investment

Income

T.

Rowe

Price

Group 

$

2,361‌

$

(19,171‌)

$

610‌

T.

Rowe

Price

Government

Reserve

Fund,

3.07%

—‌

—‌

423‌++

Totals

$

2,361‌#

$

(19,171‌)

$

1,033‌+

Supplementary

Investment

Schedule

Affiliate

Value

12/31/21

Purchase

Cost

Sales

Cost

Value

09/30/22

T.

Rowe

Price

Group 

$

37,915‌

$

—‌

$

1,788‌

$

16,956‌

T.

Rowe

Price

Government

Reserve

Fund,

3.07%

153,134‌

 ¤

 ¤

84,191‌

Total

$

101,147‌^

#

Capital

gain

distributions

from

underlying

Price

funds

represented

$0

of

the

net

realized

gain

(loss).

++

Excludes

earnings

on

securities

lending

collateral,

which

are

subject

to

rebates

and

fees.

+

Investment

income

comprised

$1,033

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

$91,316.

T.

ROWE

PRICE

Equity

Index

500

Fund

Unaudited

Notes

to

Portfolio

of

Investments

20

T.

Rowe

Price

Equity

Index

500

Fund (the

fund) is

registered

under

the

Investment

Company

Act

of

1940

(the

1940

Act)

as

an

open-end

management

investment

company

and

follows

accounting

and

reporting

guidance

of

the

Financial

Accounting

Standards

Board

Accounting

Standards

Codification

Topic

946.

The

accompanying

Portfolio

of

Investments

was

prepared

in

accordance

with

accounting

principles

generally

accepted

in

the

United

States

of

America

(GAAP).

For

additional

information

on

the

fund’s

significant

accounting

policies

and

investment

related

disclosures,

please

refer

to

the

fund’s most

recent

semiannual

or

annual

shareholder

report

and

its

prospectus. 

VALUATION 

Fair

Value

  The

fund’s

financial

instruments

are

valued

at

the

close

of

the

New

York

Stock

Exchange

(NYSE),

normally

4

p.m.

ET,

each

day

the

NYSE

is

open

for

business,

and

are

reported

at

fair

value,

which

GAAP

defines

as

the

price

that

would

be

received

to

sell

an

asset

or

paid

to

transfer

a

liability

in

an

orderly

transaction

between

market

participants

at

the

measurement

date. The fund’s

Board

of

Directors

(the

Board)

has

designated

T.

Rowe

Price

Associates,

Inc.

as

the

fund’s

valuation

designee

(Valuation

Designee).

Subject

to

oversight

by

the

Board,

the

Valuation

Designee

performs

the

following

functions

in

performing

fair

value

determinations:

assesses

and

manages

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 fund’s

own

assumptions

in

determining

fair

value)

T.

ROWE

PRICE

Equity

Index

500

Fund

21

Observable

inputs

are

developed

using

market

data,

such

as

publicly

available

information

about

actual

events

or

transactions,

and

reflect

the

assumptions

that

market

participants

would

use

to

price

the

financial

instrument.

Unobservable

inputs

are

those

for

which

market

data

are

not

available

and

are

developed

using

the

best

information

available

about

the

assumptions

that

market

participants

would

use

to

price

the

financial

instrument.

GAAP

requires

valuation

techniques

to

maximize

the

use

of

relevant

observable

inputs

and

minimize

the

use

of

unobservable

inputs.

When

multiple

inputs

are

used

to

derive

fair

value,

the

financial

instrument

is

assigned

to

the

level

within

the

fair

value

hierarchy

based

on

the

lowest-level

input

that

is

significant

to

the

fair

value

of

the

financial

instrument.

Input

levels

are

not

necessarily

an

indication

of

the

risk

or

liquidity

associated

with

financial

instruments

at

that

level

but

rather

the

degree

of

judgment

used

in

determining

those

values.

Valuation

Techniques 

Equity

securities,

including

exchange-traded

funds, listed

or

regularly

traded

on

a

securities

exchange

or

in

the

over-the-counter

(OTC)

market

are

valued

at

the

last

quoted

sale

price

or,

for

certain

markets,

the

official

closing

price

at

the

time

the

valuations

are

made.

OTC

Bulletin

Board

securities

are

valued

at

the

mean

of

the

closing

bid

and

asked

prices.

A

security

that

is

listed

or

traded

on

more

than

one

exchange

is

valued

at

the

quotation

on

the

exchange

determined

to

be

the

primary

market

for

such

security.

Listed

securities

not

traded

on

a

particular

day

are

valued

at

the

mean

of

the

closing

bid

and

asked

prices

for

domestic

securities.

Debt

securities

generally

are

traded

in

the over-the-counter

(OTC)

market

and

are

valued

at

prices

furnished

by

independent

pricing

services

or

by

broker

dealers

who

make

markets

in

such

securities.

When

valuing

securities,

the

independent

pricing

services

consider

the

yield

or

price

of

bonds

of

comparable

quality,

coupon,

maturity,

and

type,

as

well

as

prices

quoted

by

dealers

who

make

markets

in

such

securities.

Investments

in

mutual

funds

are

valued

at

the

mutual

fund’s

closing

NAV

per

share

on

the

day

of

valuation.

Futures

contracts

are

valued

at

closing

settlement

prices.

Investments

for

which

market

quotations are

not

readily

available

or

deemed

unreliable

are

valued

at

fair

value

as

determined

in

good

faith

by

the

Valuation

Designee.

The

Valuation

Designee

has

adopted

methodologies

for

determining

the

fair

value

of

investments

for

which

market

quotations

are

not

readily

available

or

deemed

unreliable,

including

the

use

of

other

pricing

sources.

Factors

used

in

determining

fair

value

vary

by

type

of

investment

and

may

include

market

or

investment

specific

considerations.

The

Valuation

Designee typically

will

afford

greatest

weight

to

actual

prices

in

arm’s

length

transactions,

to

the

extent

they

represent

orderly

transactions

between

market

participants,

transaction

information

can

be

reliably

obtained,

and

prices

are

deemed

representative

of

fair

value.

However,

the

Valuation

Designee may

also

consider

other

T.

ROWE

PRICE

Equity

Index

500

Fund

22

valuation

methods

such

as

market-based

valuation

multiples;

a

discount

or

premium

from

market

value

of

a

similar,

freely

traded

security

of

the

same

issuer;

discounted

cash

flows;

yield

to

maturity;

or

some

combination.

Fair

value

determinations

are

reviewed

on

a

regular

basis.

Because

any

fair

value

determination

involves

a

significant

amount

of

judgment,

there

is

a

degree

of

subjectivity

inherent

in

such

pricing

decisions. Fair

value

prices

determined

by

the

Valuation

Designee could

differ

from

those

of

other

market

participants,

and

it

is

possible

that

the

fair

value

determined

for

a

security

may

be

materially

different

from

the

value

that

could

be

realized

upon

the

sale

of

that

security.

Valuation

Inputs

  The

following

table

summarizes

the

fund’s

financial

instruments,

based

on

the

inputs

used

to

determine

their

fair

values

on

September

30,

2022

(for

further

detail

by

category,

please

refer

to

the

accompanying

Portfolio

of

Investments):

OTHER

MATTERS 

Unpredictable

events

such

as

environmental

or

natural

disasters,

war,

terrorism,

pandemics,

outbreaks

of

infectious

diseases,

and

similar

public

health

threats

may

significantly

affect

the

economy

and

the

markets

and

issuers

in

which

a

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.

($000s)

Level

1

Level

2

Level

3

Total

Value

Assets

Common

Stocks

$

21,457,294‌

$

—‌

$

—‌

$

21,457,294‌

Short-Term

Investments

74,600‌

5,416‌

—‌

80,016‌

Securities

Lending

Collateral

9,591‌

—‌

—‌

9,591‌

Total

$

21,541,485‌

$

5,416‌

$

—‌

$

21,546,901‌

Liabilities

Futures

Contracts*

$

10,650‌

$

—‌

$

—‌

$

10,650‌

*

The

fair

value

presented

includes

cumulative

gain

(loss)

on

open

futures

contracts;

however,

the

net

value

reflected

on

the

accompanying

Portfolio

of

Investments

is

only

the

unsettled

variation

margin

receivable

(payable)

at

that

date.

T.

ROWE

PRICE

Equity

Index

500

Fund

23

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.

These

are

recent

examples

of

global

events

which

may

have

an

impact

on

the

fund’s

performance,

which

could

be

negatively

impacted

if

the

value

of

a

portfolio

holding

were

harmed

by

these

and

such

other

events.

Management

is

actively

monitoring

the

risks

and

financial

impacts

arising

from

these

events.

F50-054Q3

09/22