T.

ROWE

PRICE

Mid-Cap

Growth

Fund

September

30,

2023

(Unaudited)

1

Portfolio

of

Investments

‡

Shares

$

Value

(Cost

and

value

in

$000s)

‡

COMMON

STOCKS

96.5%

COMMUNICATION

SERVICES

4.6%

Entertainment

1.9%

Liberty

Media

Corp-Liberty

Formula

One,

Class

C (1)

3,099,500‌

193,099‌

Liberty

Media

Corp-Liberty

Live,

Class

C (1)

145,520‌

4,671‌

Spotify

Technology (1)

2,199,600‌

340,146‌

537,916‌

Interactive

Media

&

Services

0.4%

Match

Group (1)

2,800,000‌

109,690‌

109,690‌

Media

2.3%

New

York

Times,

Class

A 

1,700,000‌

70,040‌

Trade

Desk,

Class

A (1)

7,266,000‌

567,838‌

637,878‌

Total

Communication

Services

1,285,484‌

CONSUMER

DISCRETIONARY

11.2%

Automobile

Components

0.1%

Mobileye

Global,

Class

A (1)

490,630‌

20,386‌

20,386‌

Diversified

Consumer

Services

0.5%

Bright

Horizons

Family

Solutions (1)

1,350,000‌

109,971‌

Clear

Secure,

Class

A 

1,687,000‌

32,120‌

142,091‌

Hotels,

Restaurants

&

Leisure

5.7%

Caesars

Entertainment (1)

1,493,000‌

69,201‌

Chipotle

Mexican

Grill (1)

59,700‌

109,360‌

Domino's

Pizza 

1,080,494‌

409,280‌

Hilton

Worldwide

Holdings 

3,084,600‌

463,245‌

MGM

Resorts

International 

7,000,000‌

257,320‌

Yum!

Brands 

2,400,000‌

299,856‌

1,608,262‌

Specialty

Retail

4.5%

Bath

&

Body

Works 

5,772,900‌

195,124‌

Burlington

Stores (1)

2,499,600‌

338,196‌

Five

Below (1)

1,250,000‌

201,125‌

O'Reilly

Automotive (1)

90,000‌

81,797‌

Ross

Stores 

2,499,600‌

282,330‌

Tractor

Supply 

398,200‌

80,855‌

Ulta

Beauty (1)

250,000‌

99,862‌

1,279,289‌

T.

ROWE

PRICE

Mid-Cap

Growth

Fund

2

Shares

$

Value

(Cost

and

value

in

$000s)

‡

Textiles,

Apparel

&

Luxury

Goods

0.4%

Lululemon

Athletica (1)

324,900‌

125,285‌

125,285‌

Total

Consumer

Discretionary

3,175,313‌

CONSUMER

STAPLES

3.9%

Beverages

0.3%

Boston

Beer,

Class

A (1)

250,000‌

97,382‌

97,382‌

Consumer

Staples

Distribution

&

Retail

2.2%

Casey's

General

Stores 

1,000,000‌

271,520‌

Dollar

General 

275,000‌

29,095‌

Dollar

Tree (1)

2,700,000‌

287,415‌

Maplebear (1)

444,053‌

13,184‌

Maplebear,

Acquisition

Date:

2/26/21

-

11/19/21,

Cost $66,815 (1)

(2)

552,769‌

16,412‌

617,626‌

Food

Products

0.4%

TreeHouse

Foods (1)

2,739,610‌

119,392‌

119,392‌

Household

Products

0.4%

Reynolds

Consumer

Products 

3,941,000‌

101,008‌

101,008‌

Personal

Care

Products

0.6%

Kenvue 

7,999,000‌

160,620‌

160,620‌

Total

Consumer

Staples

1,096,028‌

ENERGY

4.1%

Energy

Equipment

&

Services

0.3%

TechnipFMC 

3,750,000‌

76,275‌

76,275‌

Oil,

Gas

&

Consumable

Fuels

3.8%

Cheniere

Energy 

2,250,000‌

373,410‌

Coterra

Energy 

5,721,400‌

154,764‌

EQT 

5,700,000‌

231,306‌

Pioneer

Natural

Resources 

1,194,000‌

274,083‌

Range

Resources 

1,000,000‌

32,410‌

1,065,973‌

Total

Energy

1,142,248‌

T.

ROWE

PRICE

Mid-Cap

Growth

Fund

3

Shares

$

Value

(Cost

and

value

in

$000s)

‡

FINANCIALS

7.8%

Capital

Markets

4.8%

Cboe

Global

Markets 

298,500‌

46,629‌

Intercontinental

Exchange 

2,686,500‌

295,569‌

KKR 

6,472,300‌

398,694‌

MarketAxess

Holdings 

599,900‌

128,162‌

Raymond

James

Financial 

1,741,800‌

174,929‌

Tradeweb

Markets,

Class

A 

3,881,700‌

311,312‌

1,355,295‌

Financial

Services

1.2%

FleetCor

Technologies (1)

1,324,800‌

338,274‌

338,274‌

Insurance

1.8%

Assurant 

2,185,600‌

313,808‌

Axis

Capital

Holdings 

1,990,100‌

112,182‌

Kemper 

699,900‌

29,417‌

Markel

Group (1)

32,900‌

48,445‌

503,852‌

Total

Financials

2,197,421‌

HEALTH

CARE

24.1%

Biotechnology

5.5%

Alnylam

Pharmaceuticals (1)

1,674,700‌

296,589‌

Apellis

Pharmaceuticals (1)

1,349,800‌

51,347‌

Argenx,

ADR (1)

314,900‌

154,814‌

Ascendis

Pharma,

ADR (1)

1,144,600‌

107,180‌

Biogen (1)

900,000‌

231,309‌

CRISPR

Therapeutics (1)

1,194,000‌

54,196‌

Exact

Sciences (1)

1,439,900‌

98,230‌

Ionis

Pharmaceuticals (1)

4,725,400‌

214,344‌

Karuna

Therapeutics (1)

625,150‌

105,707‌

Roivant

Sciences (1)

5,250,000‌

61,320‌

Sarepta

Therapeutics (1)

900,000‌

109,098‌

Seagen (1)

298,500‌

63,327‌

1,547,461‌

Health

Care

Equipment

&

Supplies

8.1%

Alcon 

3,120,300‌

240,450‌

Cooper 

849,900‌

270,277‌

DENTSPLY

SIRONA 

2,484,400‌

84,867‌

Enovis (1)

3,233,100‌

170,482‌

Hologic (1)

10,694,100‌

742,171‌

ICU

Medical (1)

824,900‌

98,171‌

QuidelOrtho (1)

2,125,000‌

155,210‌

T.

ROWE

PRICE

Mid-Cap

Growth

Fund

4

Shares

$

Value

(Cost

and

value

in

$000s)

‡

Teleflex (3)

2,580,700‌

506,875‌

2,268,503‌

Health

Care

Providers

&

Services

2.3%

Acadia

Healthcare (1)

3,981,300‌

279,925‌

agilon

health (1)

7,168,400‌

127,311‌

Molina

Healthcare (1)

726,600‌

238,245‌

645,481‌

Health

Care

Technology

1.6%

Veeva

Systems,

Class

A (1)

2,186,000‌

444,742‌

444,742‌

Life

Sciences

Tools

&

Services

5.6%

Agilent

Technologies 

4,978,100‌

556,651‌

Avantor (1)

17,997,000‌

379,377‌

Bruker 

5,499,100‌

342,594‌

West

Pharmaceutical

Services 

760,000‌

285,159‌

1,563,781‌

Pharmaceuticals

1.0%

Catalent (1)

5,862,920‌

266,939‌

266,939‌

Total

Health

Care

6,736,907‌

INDUSTRIALS

&

BUSINESS

SERVICES

17.0%

Aerospace

&

Defense

2.5%

BWX

Technologies 

1,737,900‌

130,308‌

Textron 

7,450,000‌

582,143‌

712,451‌

Commercial

Services

&

Supplies

0.3%

Waste

Connections 

696,700‌

93,567‌

93,567‌

Electrical

Equipment

0.2%

Shoals

Technologies

Group,

Class

A (1)

2,470,200‌

45,081‌

45,081‌

Ground

Transportation

1.7%

JB

Hunt

Transport

Services 

2,587,900‌

487,871‌

487,871‌

Industrial

Conglomerates

1.0%

Roper

Technologies 

559,900‌

271,148‌

271,148‌

Machinery

4.9%

Esab 

3,112,082‌

218,530‌

Fortive 

5,948,400‌

441,133‌

T.

ROWE

PRICE

Mid-Cap

Growth

Fund

5

Shares

$

Value

(Cost

and

value

in

$000s)

‡

IDEX 

824,900‌

171,596‌

Ingersoll

Rand 

8,500,000‌

541,620‌

1,372,879‌

Passenger

Airlines

0.8%

Southwest

Airlines 

8,498,600‌

230,057‌

230,057‌

Professional

Services

4.8%

Broadridge

Financial

Solutions 

1,374,649‌

246,131‌

Equifax 

1,899,700‌

347,987‌

Paylocity

Holding (1)

1,194,400‌

217,023‌

TransUnion 

3,980,100‌

285,731‌

Verisk

Analytics 

1,049,800‌

248,005‌

1,344,877‌

Trading

Companies

&

Distributors

0.8%

United

Rentals 

532,500‌

236,734‌

236,734‌

Total

Industrials

&

Business

Services

4,794,665‌

INFORMATION

TECHNOLOGY

17.6%

Electronic

Equipment,

Instruments

&

Components

2.6%

Amphenol,

Class

A 

2,709,200‌

227,546‌

Cognex 

2,481,300‌

105,306‌

Keysight

Technologies (1)

2,569,000‌

339,905‌

Littelfuse 

207,772‌

51,386‌

724,143‌

IT

Services

0.3%

MongoDB (1)

248,200‌

85,842‌

85,842‌

Semiconductors

&

Semiconductor

Equipment

7.6%

KLA 

627,000‌

287,580‌

Lattice

Semiconductor (1)

2,089,500‌

179,550‌

Marvell

Technology 

12,918,600‌

699,284‌

Microchip

Technology 

11,197,500‌

873,965‌

NXP

Semiconductors 

499,900‌

99,940‌

2,140,319‌

Software

7.1%

Atlassian,

Class

A (1)

647,000‌

130,377‌

BILL

Holdings (1)

1,247,641‌

135,456‌

CCC

Intelligent

Solutions

Holdings (1)

15,424,941‌

205,923‌

Confluent,

Class

A (1)

993,400‌

29,414‌

Crowdstrike

Holdings,

Class

A (1)

2,488,300‌

416,492‌

Fair

Isaac (1)

333,400‌

289,568‌

Fortinet (1)

3,399,400‌

199,477‌

T.

ROWE

PRICE

Mid-Cap

Growth

Fund

6

Shares

$

Value

(Cost

and

value

in

$000s)

‡

HashiCorp,

Class

A (1)

496,000‌

11,324‌

Klaviyo,

Class

A (1)

510,542‌

17,614‌

PTC (1)

2,599,600‌

368,311‌

Synopsys (1)

270,000‌

123,922‌

Tyler

Technologies (1)

200,000‌

77,228‌

2,005,106‌

Total

Information

Technology

4,955,410‌

MATERIALS

5.2%

Chemicals

0.6%

RPM

International 

1,849,700‌

175,370‌

175,370‌

Construction

Materials

1.2%

Martin

Marietta

Materials 

799,900‌

328,343‌

328,343‌

Containers

&

Packaging

3.4%

Avery

Dennison 

1,991,300‌

363,751‌

Ball 

8,750,000‌

435,575‌

Sealed

Air 

4,999,200‌

164,273‌

963,599‌

Total

Materials

1,467,312‌

REAL

ESTATE

1.0%

Real

Estate

Management

&

Development

1.0%

CoStar

Group (1)

3,672,300‌

282,363‌

Total

Real

Estate

282,363‌

Total

Common

Stocks

(Cost

$18,927,831)

27,133,151‌

CONVERTIBLE

PREFERRED

STOCKS

0.3%

HEALTH

CARE

0.1%

Biotechnology

0.1%

Caris

Life

Sciences,

Series

D,

Acquisition

Date:

5/11/21,

Cost $26,556 (1)(2)(4)

3,278,524‌

17,540‌

Total

Health

Care

17,540‌

INFORMATION

TECHNOLOGY

0.1%

Software

0.1%

Databricks,

Series

H,

Acquisition

Date:

8/31/21,

Cost $18,583 (1)

(2)(4)

252,883‌

18,587‌

Databricks,

Series

I,

Acquisition

Date:

9/14/23,

Cost $7,088 (1)(2)

(4)

96,442‌

7,088‌

Nuro,

Series

D,

Acquisition

Date:

10/29/21,

Cost $17,506 (1)(2)(4)

839,788‌

5,207‌

Total

Information

Technology

30,882‌

T.

ROWE

PRICE

Mid-Cap

Growth

Fund

7

Shares

$

Value

(Cost

and

value

in

$000s)

‡

MATERIALS

0.1%

Chemicals

0.1%

Redwood

Materials,

Series

C,

Acquisition

Date:

5/28/21,

Cost $19,360 (1)(2)(4)

408,411‌

19,496‌

Sila

Nano,

Series

F,

Acquisition

Date:

1/7/21,

Cost $38,032 (1)(2)

(4)

921,478‌

18,687‌

Total

Materials

38,183‌

Total

Convertible

Preferred

Stocks

(Cost

$127,125)

86,605‌

SHORT-TERM

INVESTMENTS

3.3%

Money

Market

Funds

3.3%

T.

Rowe

Price

Treasury

Reserve

Fund,

5.40% (3)(5)

934,576,693‌

934,577‌

Total

Short-Term

Investments

(Cost

$934,577)

934,577‌

Total

Investments

in

Securities

100.1%

(Cost

$19,989,533)

$

28,154,333‌

Other

Assets

Less

Liabilities

(0.1)%

(26,907‌)

Net

Assets

100.0%

$

28,127,426‌

‡

Shares

are

denominated

in

U.S.

dollars

unless

otherwise

noted.

(1)

Non-income

producing

(2)

Security

cannot

be

offered

for

public

resale

without

first

being

registered

under

the

Securities

Act

of

1933

and

related

rules

("restricted

security").

Acquisition

date

represents

the

day

on

which

an

enforceable

right

to

acquire

such

security

is

obtained

and

is

presented

along

with

related

cost

in

the

security

description.

The

fund

may

have

registration

rights

for

certain

restricted

securities.

Any

costs

related

to

such

registration

are

generally

borne

by

the

issuer.

The

aggregate

value

of

restricted

securities

(excluding

144A

holdings)

at

period

end

amounts

to

$103,017

and

represents

0.4%

of

net

assets.

(3)

Affiliated

Companies

(4)

Level

3

in

fair

value

hierarchy.

(5)

Seven-day

yield

ADR

American

Depositary

Receipts

T.

ROWE

PRICE

Mid-Cap

Growth

Fund

8

The

accompanying

notes

are

an

integral

part

of

this

Portfolio

of

Investments.

AFFILIATED

COMPANIES

($000s)

The

fund

may

invest

in

certain

securities

that

are

considered

affiliated

companies.

As

defined

by

the

1940

Act,

an

affiliated

company

is

one

in

which

the

fund

owns

5%

or

more

of

the

outstanding

voting

securities,

or

a

company

that

is

under

common

ownership

or

control.

The

following

securities

were

considered

affiliated

companies

for

all

or

some

portion

of

the

nine

months

ended

September

30,

2023.

Net

realized

gain

(loss),

investment

income,

change

in

net

unrealized

gain/loss,

and

purchase

and

sales

cost

reflect

all

activity

for

the

period

then

ended.

Affiliate

Net

Realized

Gain

(Loss)

Change

in

Net

Unrealized

Gain/Loss

Investment

Income

Teleflex 

$

2,476‌

$

(140,026‌)

$

2,641‌

T.

Rowe

Price

Government

Reserve

Fund,

5.40%

—‌

—‌

—‌++

T.

Rowe

Price

Treasury

Reserve

Fund,

5.40%

—‌

—‌

39,651‌

Totals

$

2,476‌#

$

(140,026‌)

$

42,292‌+

Supplementary

Investment

Schedule

Affiliate

Value

12/31/22

Purchase

Cost

Sales

Cost

Value

09/30/23

Teleflex 

$

648,264‌

$

—‌

$

1,363‌

$

506,875‌

T.

Rowe

Price

Government

Reserve

Fund,

5.40%

—‌

 ¤

 ¤

—‌

T.

Rowe

Price

Treasury

Reserve

Fund,

5.40%

1,068,456‌

 ¤

 ¤

934,577‌

Total

$

1,441,452‌^

#

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

$42,292

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

$1,275,292.

T.

ROWE

PRICE

Mid-Cap

Growth

Fund

Unaudited

Notes

to

Portfolio

of

Investments

9

T.

Rowe

Price

Mid-Cap

Growth

Fund,

Inc. (the

fund) is

registered

under

the

Investment

Company

Act

of

1940

(the

1940

Act)

as

an

open-end

management

investment

company

and

follows

accounting

and

reporting

guidance

of

the

Financial

Accounting

Standards

Board

Accounting

Standards

Codification

Topic

946.

The

accompanying

Portfolio

of

Investments

was

prepared

in

accordance

with

accounting

principles

generally

accepted

in

the

United

States

of

America

(GAAP).

For

additional

information

on

the

fund’s

significant

accounting

policies

and

investment

related

disclosures,

please

refer

to

the

fund’s most

recent

semiannual

or

annual

shareholder

report

and

its

prospectus. 

VALUATION 

Fair

Value

  The

fund’s

financial

instruments

are

valued

at

the

close

of

the

New

York

Stock

Exchange

(NYSE),

normally

4

p.m.

ET,

each

day

the

NYSE

is

open

for

business,

and

are

reported

at

fair

value,

which

GAAP

defines

as

the

price

that

would

be

received

to

sell

an

asset

or

paid

to

transfer

a

liability

in

an

orderly

transaction

between

market

participants

at

the

measurement

date. The fund’s

Board

of

Directors

(the

Board)

has

designated

T.

Rowe

Price

Associates,

Inc.

as

the

fund’s

valuation

designee

(Valuation

Designee).

Subject

to

oversight

by

the

Board,

the

Valuation

Designee

performs

the

following

functions

in

performing

fair

value

determinations:

assesses

and

manages

valuation

risks;

establishes

and

applies

fair

value

methodologies;

tests

fair

value

methodologies;

and

evaluates

pricing

vendors

and

pricing

agents.

The

duties

and

responsibilities

of

the

Valuation

Designee

are

performed

by

its

Valuation

Committee. The

Valuation

Designee provides

periodic

reporting

to

the

Board

on

valuation

matters.

Various

valuation

techniques

and

inputs

are

used

to

determine

the

fair

value

of

financial

instruments.

GAAP

establishes

the

following

fair

value

hierarchy

that

categorizes

the

inputs

used

to

measure

fair

value:

Level

1

–

quoted

prices

(unadjusted)

in

active

markets

for

identical

financial

instruments

that

the

fund

can

access

at

the

reporting

date

Level

2

–

inputs

other

than

Level

1

quoted

prices

that

are

observable,

either

directly

or

indirectly

(including,

but

not

limited

to,

quoted

prices

for

similar

financial

instruments

in

active

markets,

quoted

prices

for

identical

or

similar

financial

instruments

in

inactive

markets,

interest

rates

and

yield

curves,

implied

volatilities,

and

credit

spreads)

Level

3

–

unobservable

inputs

(including

the Valuation

Designee’s assumptions

in

determining

fair

value)

T.

ROWE

PRICE

Mid-Cap

Growth

Fund

10

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.

Investments

in

mutual

funds

are

valued

at

the

mutual

fund’s

closing

NAV

per

share

on

the

day

of

valuation.

Investments

for

which

market

quotations are

not

readily

available

or

deemed

unreliable

are

valued

at

fair

value

as

determined

in

good

faith

by

the

Valuation

Designee.

The

Valuation

Designee

has

adopted

methodologies

for

determining

the

fair

value

of

investments

for

which

market

quotations

are

not

readily

available

or

deemed

unreliable,

including

the

use

of

other

pricing

sources.

Factors

used

in

determining

fair

value

vary

by

type

of

investment

and

may

include

market

or

investment

specific

considerations.

The

Valuation

Designee typically

will

afford

greatest

weight

to

actual

prices

in

arm’s

length

transactions,

to

the

extent

they

represent

orderly

transactions

between

market

participants,

transaction

information

can

be

reliably

obtained,

and

prices

are

deemed

representative

of

fair

value.

However,

the

Valuation

Designee may

also

consider

other

valuation

methods

such

as

market-based

valuation

multiples;

a

discount

or

premium

from

market

value

of

a

similar,

freely

traded

security

of

the

same

issuer;

discounted

cash

flows;

yield

to

maturity;

or

some

combination.

Fair

value

determinations

are

reviewed

on

a

regular

basis.

Because

any

fair

value

determination

involves

a

significant

amount

of

judgment,

there

is

a

degree

of

subjectivity

inherent

in

such

pricing

decisions. Fair

value

T.

ROWE

PRICE

Mid-Cap

Growth

Fund

11

prices

determined

by

the

Valuation

Designee could

differ

from

those

of

other

market

participants,

and

it

is

possible

that

the

fair

value

determined

for

a

security

may

be

materially

different

from

the

value

that

could

be

realized

upon

the

sale

of

that

security.

Valuation

Inputs

  The

following

table

summarizes

the

fund’s

financial

instruments,

based

on

the

inputs

used

to

determine

their

fair

values

on

September

30,

2023

(for

further

detail

by

category,

please

refer

to

the

accompanying

Portfolio

of

Investments):

OTHER

MATTERS 

Unpredictable

events

such

as

environmental

or

natural

disasters,

war,

terrorism,

pandemics,

outbreaks

of

infectious

diseases,

and

similar

public

health

threats

may

significantly

affect

the

economy

and

the

markets

and

issuers

in

which

the fund

invests.

Certain

events

may

cause

instability

across

global

markets,

including

reduced

liquidity

and

disruptions

in

trading

markets,

while

some

events

may

affect

certain

geographic

regions,

countries,

sectors,

and

industries

more

significantly

than

others,

and

exacerbate

other

pre-existing

political,

social,

and

economic

risks.

Since

2020,

a

novel

strain

of

coronavirus

(COVID-19)

has

resulted

in

disruptions

to

global

business

activity

and

caused

significant

volatility

and

declines

in

global

financial

markets.

In

February

2022,

Russian

forces

entered

Ukraine

and

commenced

an

armed

conflict

leading

to

economic

sanctions

being

imposed

on

Russia

and

certain

of

its

citizens,

creating

impacts

on

Russian-related

stocks

and

debt

and

greater

volatility

in

global

markets.

In

March

2023,

the

collapse

of

some

US

regional

and

global

banks

as

well

as

overall

concerns

around

the

soundness

and

stability

of

the

global

banking

sector

has

sparked

concerns

of

a

broader

financial

crisis

impacting

the

overall

global

banking

sector.

In

($000s)

Level

1

Level

2

Level

3

Total

Value

Assets

Common

Stocks

$

27,116,739‌

$

16,412‌

$

—‌

$

27,133,151‌

Convertible

Preferred

Stocks

—‌

—‌

86,605‌

86,605‌

Short-Term

Investments

934,577‌

—‌

—‌

934,577‌

Total

$

28,051,316‌

$

16,412‌

$

86,605‌

$

28,154,333‌

T.

ROWE

PRICE

Mid-Cap

Growth

Fund

12

certain

cases,

government

agencies

have

assumed

control

or

otherwise

intervened

in

the

operations

of

certain

banks

due

to

liquidity

and

solvency

concerns.

The

extent

of

impact

of

these

events

on

the

US

and

global

markets

is

highly

uncertain.

These

are

recent

examples

of

global

events

which

may

have

a

negative

impact

on

the

values

of

certain

portfolio

holdings

or

the

fund’s

overall

performance.

Management

is

actively

monitoring

the

risks

and

financial

impacts

arising

from

these

events.

F64-054Q3

09/23