NPORT-EX 2 70D4TROWE09302022.htm
T.
ROWE
PRICE
Limited-Term
Bond
Portfolio
September
30,
2022
(Unaudited)
1
Portfolio
of
Investments
‡
Par/Shares
$
Value
(Amounts
in
000s)
‡
ASSET-BACKED
SECURITIES
13.6%
Car
Loan
7.1%
AmeriCredit
Automobile
Receivables
Trust
Series
2020-1,
Class
C
1.59%,
10/20/25 
435‌
422‌
AmeriCredit
Automobile
Receivables
Trust
Series
2020-1,
Class
D
1.80%,
12/18/25 
415‌
391‌
AmeriCredit
Automobile
Receivables
Trust
Series
2020-2,
Class
B
0.97%,
2/18/26 
100‌
98‌
AmeriCredit
Automobile
Receivables
Trust
Series
2020-3,
Class
C
1.06%,
8/18/26 
115‌
108‌
AmeriCredit
Automobile
Receivables
Trust
Series
2021-1,
Class
C
0.89%,
10/19/26 
190‌
176‌
AmeriCredit
Automobile
Receivables
Trust
Series
2021-1,
Class
D
1.21%,
12/18/26 
115‌
104‌
AmeriCredit
Automobile
Receivables
Trust
Series
2021-2,
Class
D
1.29%,
6/18/27 
235‌
212‌
AmeriCredit
Automobile
Receivables
Trust
Series
2022-1,
Class
D
3.23%,
2/18/28 
420‌
386‌
Ari
Fleet
Lease
Trust
Series
2020-A,
Class
B
2.06%,
11/15/28 (1)
475‌
461‌
Avis
Budget
Rental
Car
Funding
AESOP
Series
2018-1A,
Class
D
5.25%,
9/20/24 (1)
315‌
311‌
Avis
Budget
Rental
Car
Funding
AESOP
Series
2018-2A,
Class
C
4.95%,
3/20/25 (1)
260‌
254‌
Avis
Budget
Rental
Car
Funding
AESOP
Series
2019-2A,
Class
A
3.35%,
9/22/25 (1)
475‌
456‌
Avis
Budget
Rental
Car
Funding
AESOP
Series
2019-2A,
Class
B
3.55%,
9/22/25 (1)
415‌
394‌
Avis
Budget
Rental
Car
Funding
AESOP
Series
2020-1A,
Class
A
2.33%,
8/20/26 (1)
340‌
313‌
CarMax
Auto
Owner
Trust
Series
2020-4,
Class
D
1.75%,
4/15/27 
145‌
134‌
Carvana
Auto
Receivables
Trust
Series
2021-P4,
Class
B
1.98%,
2/10/28 
190‌
164‌
Carvana
Auto
Receivables
Trust
Series
2022-N1,
Class
C
3.32%,
12/11/28 (1)
135‌
130‌
Exeter
Automobile
Receivables
Trust
Series
2021-3A,
Class
D
1.55%,
6/15/27 
155‌
142‌
Exeter
Automobile
Receivables
Trust
Series
2022-1A,
Class
D
3.02%,
6/15/28 
340‌
307‌
Par/Shares
$
Value
(Amounts
in
000s)
Exeter
Automobile
Receivables
Trust
Series
2022-2A,
Class
C
3.85%,
7/17/28 
305‌
293‌
Exeter
Automobile
Receivables
Trust
Series
2022-4A,
Class
D
5.98%,
12/15/28 
140‌
134‌
Ford
Credit
Auto
Lease
Trust
Series
2022-A,
Class
C
4.18%,
10/15/25 
465‌
454‌
Ford
Credit
Auto
Owner
Trust
Series
2020-2,
Class
C
1.74%,
4/15/33 (1)
145‌
127‌
Ford
Credit
Floorplan
Master
Owner
Trust
Series
2020-1,
Class
C
1.42%,
9/15/25 
220‌
211‌
GM
Financial
Automobile
Leasing
Trust
Series
2022-3,
Class
C
5.13%,
8/20/26 
615‌
602‌
GM
Financial
Consumer
Automobile
Receivables
Trust
Series
2020-2,
Class
A3
1.49%,
12/16/24 
83‌
82‌
GM
Financial
Consumer
Automobile
Receivables
Trust
Series
2020-4,
Class
C
1.05%,
5/18/26 
105‌
98‌
Hyundai
Auto
Receivables
Trust
Series
2020-B,
Class
C
1.60%,
12/15/26 
175‌
164‌
JPMorgan
Chase
Bank
Series
2021-2,
Class
D
1.138%,
12/26/28 (1)
130‌
124‌
Nissan
Auto
Receivables
Owner
Trust
Series
2020-A,
Class
A3
1.38%,
12/16/24 
121‌
119‌
Santander
Bank
Series
2021-1A,
Class
B
1.833%,
12/15/31 (1)
155‌
149‌
Santander
Bank
Auto
Credit-Linked
Notes
Series
2022-B,
Class
C
5.916%,
8/16/32 (1)
250‌
250‌
Santander
Consumer
Auto
Receivables
Trust
Series
2020-BA,
Class
C
1.29%,
4/15/26 (1)
115‌
110‌
Santander
Drive
Auto
Receivables
Trust
Series
2020-4,
Class
C
1.01%,
1/15/26 
172‌
170‌
Santander
Drive
Auto
Receivables
Trust
Series
2021-4,
Class
D
1.67%,
10/15/27 
255‌
236‌
Santander
Drive
Auto
Receivables
Trust
Series
2022-1,
Class
C
2.56%,
4/17/28 
415‌
393‌
Santander
Drive
Auto
Receivables
Trust
Series
2022-2,
Class
C
3.76%,
7/16/29 
365‌
349‌
Santander
Drive
Auto
Receivables
Trust
Series
2022-4,
Class
C
5.00%,
11/15/29 
435‌
428‌
T.
ROWE
PRICE
Limited-Term
Bond
Portfolio
2
Par/Shares
$
Value
(Amounts
in
000s)
Santander
Drive
Auto
Receivables
Trust
Series
2022-5,
Class
C
4.74%,
10/16/28 
330‌
321‌
Santander
Drive
Auto
Receivables
Trust
Series
2022-6,
Class
C
4.96%,
11/15/28 
455‌
447‌
Santander
Retail
Auto
Lease
Trust
Series
2020-A,
Class
D
2.52%,
11/20/24 (1)
435‌
428‌
Santander
Retail
Auto
Lease
Trust
Series
2021-A,
Class
C
1.14%,
3/20/26 (1)
430‌
404‌
Santander
Retail
Auto
Lease
Trust
Series
2021-B,
Class
D
1.41%,
11/20/25 (1)
185‌
172‌
Santander
Retail
Auto
Lease
Trust
Series
2021-C,
Class
C
1.11%,
3/20/26 (1)
155‌
143‌
Santander
Retail
Auto
Lease
Trust
Series
2022-B,
Class
B
3.85%,
3/22/27 (1)
75‌
72‌
World
Omni
Auto
Receivables
Trust
Series
2019-C,
Class
C
2.40%,
6/15/26 
460‌
451‌
World
Omni
Auto
Receivables
Trust
Series
2020-A,
Class
C
1.64%,
8/17/26 
295‌
283‌
World
Omni
Auto
Receivables
Trust
Series
2022-A,
Class
C
2.55%,
9/15/28 
155‌
145‌
World
Omni
Select
Auto
Trust
Series
2020-A,
Class
B
0.84%,
6/15/26 
140‌
135‌
World
Omni
Select
Auto
Trust
Series
2020-A,
Class
C
1.25%,
10/15/26 
160‌
152‌
12,609‌
Other
Asset-Backed
Securities
5.4%
Applebee's
Funding
Series
2019-1A,
Class
A2I
4.194%,
6/5/49 (1)
520‌
492‌
Barings
Series
2013-IA,
Class
AR,
CLO,
FRN
3M
USD
LIBOR
+
0.80%,
3.51%,
1/20/28 (1)
406‌
400‌
Blackbird
Capital
Aircraft
Lease
Securitization
Series
2016-1A,
Class
AA,
STEP
2.487%,
12/16/41 (1)
107‌
97‌
BRE
Grand
Islander
Timeshare
Issuer
Series
2019-A,
Class
A
3.28%,
9/26/33 (1)
114‌
107‌
Cedar
Funding
XIV
Series
2021-14A,
Class
A,
CLO,
FRN
3M
USD
LIBOR
+
1.10%,
3.612%,
7/15/33 (1)
290‌
282‌
Dryden
Series
2020-86A,
Class
A1R,
CLO,
FRN
3M
USD
LIBOR
+
1.10%,
3.84%,
7/17/34 (1)
250‌
242‌
Par/Shares
$
Value
(Amounts
in
000s)
Elara
HGV
Timeshare
Issuer
Series
2016-A,
Class
A
2.73%,
4/25/28 (1)
184‌
181‌
Elara
HGV
Timeshare
Issuer
Series
2017-A,
Class
A
2.69%,
3/25/30 (1)
60‌
58‌
Elara
HGV
Timeshare
Issuer
Series
2019-A,
Class
A
2.61%,
1/25/34 (1)
284‌
263‌
FirstKey
Homes
Trust
Series
2020-SFR1,
Class
D
2.241%,
8/17/37 (1)
500‌
446‌
Hilton
Grand
Vacations
Trust
Series
2017-AA,
Class
A
2.66%,
12/26/28 (1)
47‌
47‌
Hilton
Grand
Vacations
Trust
Series
2017-AA,
Class
B
2.96%,
12/26/28 (1)
16‌
16‌
KKR
Series
29A,
Class
A,
CLO,
FRN
3M
USD
LIBOR
+
1.20%,
3.712%,
1/15/32 (1)
250‌
245‌
Kubota
Credit
Owner
Trust
Series
2020-1A,
Class
A3
1.96%,
3/15/24 (1)
99‌
99‌
Madison
Park
Funding
XXIII
Series
2017-23A,
Class
AR,
CLO,
FRN
3M
USD
LIBOR
+
0.97%,
3.739%,
7/27/31 (1)
285‌
279‌
Madison
Park
Funding
XXXIII
Series
2019-33A,
Class
AR,
CLO,
FRN
3M
TSFR
+
1.29%,
3.618%,
10/15/32 (1)
485‌
476‌
Madison
Park
Funding
XXXV
Series
2019-35A,
Class
A1R,
CLO,
FRN
3M
USD
LIBOR
+
0.99%,
3.70%,
4/20/32 (1)
455‌
443‌
Madison
Park
Funding
XXXVII
Series
2019-37A,
Class
AR,
CLO,
FRN
3M
USD
LIBOR
+
1.07%,
3.582%,
7/15/33 (1)
465‌
453‌
Magnetite
XXV
Series
2020-25A,
Class
A,
CLO,
FRN
3M
USD
LIBOR
+
1.20%,
3.983%,
1/25/32 (1)
500‌
491‌
MVW
Series
2020-1A,
Class
B
2.73%,
10/20/37 (1)
122‌
112‌
MVW
Owner
Trust
Series
2017-1A,
Class
B
2.75%,
12/20/34 (1)
14‌
14‌
MVW
Owner
Trust
Series
2017-1A,
Class
C
2.99%,
12/20/34 (1)
23‌
23‌
Neuberger
Berman
Loan
Advisers
Series
2017-26A,
Class
AR,
CLO,
FRN
3M
USD
LIBOR
+
0.92%,
3.66%,
10/18/30 (1)
250‌
245‌
Neuberger
Berman
Loan
Advisers
Series
2017-26A,
Class
BR,
CLO,
FRN
3M
USD
LIBOR
+
1.40%,
4.14%,
10/18/30 (1)
255‌
244‌
T.
ROWE
PRICE
Limited-Term
Bond
Portfolio
3
Par/Shares
$
Value
(Amounts
in
000s)
Neuberger
Berman
Loan
Advisers
Series
2019-32A,
Class
AR,
CLO,
FRN
3M
USD
LIBOR
+
0.99%,
3.728%,
1/20/32 (1)
400‌
390‌
Neuberger
Berman
XVII
Series
2014-17A,
Class
AR2,
CLO,
FRN
3M
USD
LIBOR
+
1.03%,
3.789%,
4/22/29 (1)
453‌
446‌
OCP
Series
2017-13A,
Class
A2R,
CLO,
FRN
3M
USD
LIBOR
+
1.55%,
4.062%,
7/15/30 (1)
315‌
303‌
Octane
Receivables
Trust
Series
2021-2A,
Class
A
1.21%,
9/20/28 (1)
113‌
108‌
Octane
Receivables
Trust
Series
2022-1A,
Class
B
4.90%,
5/22/28 (1)
180‌
173‌
Octane
Receivables
Trust
Series
2022-2A,
Class
A
5.11%,
2/22/28 (1)
315‌
312‌
Palmer
Square
Series
2020-3A,
Class
A1AR,
CLO,
FRN
3M
USD
LIBOR
+
1.08%,
3.985%,
11/15/31 (1)
480‌
469‌
Progress
Residential
Trust
Series
2020-SFR2,
Class
A
2.078%,
6/17/37 (1)
395‌
362‌
Progress
Residential
Trust
Series
2022-SFR6,
Class
A
4.451%,
7/20/39 (1)
230‌
218‌
Sierra
Timeshare
Receivables
Funding
Series
2019-1A,
Class
A
3.20%,
1/20/36 (1)
76‌
74‌
Symphony
Static
I
Series
2021-1A,
Class
B,
CLO,
FRN
3M
USD
LIBOR
+
1.45%,
4.233%,
10/25/29 (1)
350‌
338‌
Symphony
XXIII
Series
2020-23A,
Class
AR,
CLO,
FRN
3M
USD
LIBOR
+
1.02%,
3.532%,
1/15/34 (1)
450‌
440‌
Symphony
XXVI
Series
2021-26A,
Class
AR,
CLO,
FRN
3M
USD
LIBOR
+
1.08%,
3.79%,
4/20/33 (1)
250‌
243‌
9,631‌
Student
Loan
1.1%
Navient
Private
Education
Refi
Loan
Trust
Series
2019-D,
Class
A2A
3.01%,
12/15/59 (1)
104‌
96‌
Navient
Private
Education
Refi
Loan
Trust
Series
2019-GA,
Class
A
2.40%,
10/15/68 (1)
78‌
72‌
Navient
Private
Education
Refi
Loan
Trust
Series
2020-DA,
Class
A
1.69%,
5/15/69 (1)
52‌
47‌
Navient
Private
Education
Refi
Loan
Trust
Series
2020-FA,
Class
A
1.22%,
7/15/69 (1)
142‌
128‌
Par/Shares
$
Value
(Amounts
in
000s)
Navient
Private
Education
Refi
Loan
Trust
Series
2020-GA,
Class
A
1.17%,
9/16/69 (1)
66‌
59‌
Navient
Private
Education
Refi
Loan
Trust
Series
2021-BA,
Class
A
0.94%,
7/15/69 (1)
145‌
125‌
Navient
Private
Education
Refi
Loan
Trust
Series
2021-EA,
Class
A
0.97%,
12/16/69 (1)
93‌
78‌
Navient
Private
Education
Refi
Loan
Trust
Series
2022-A,
Class
A
2.23%,
7/15/70 (1)
404‌
358‌
Nelnet
Student
Loan
Trust
Series
2005-4,
Class
A4,
FRN
3M
USD
LIBOR
+
0.18%,
3.782%,
3/22/32 
335‌
325‌
Nelnet
Student
Loan
Trust
Series
2020-1A,
Class
A,
FRN
1M
USD
LIBOR
+
0.74%,
3.824%,
3/26/68 (1)
166‌
162‌
Nelnet
Student
Loan
Trust
Series
2021-CA,
Class
AFX
1.32%,
4/20/62 (1)
330‌
294‌
SMB
Private
Education
Loan
Trust
Series
2020-PTB,
Class
A2A
1.60%,
9/15/54 (1)
123‌
109‌
1,853‌
Total
Asset-Backed
Securities
(Cost
$25,176)
24,093‌
CORPORATE
BONDS
48.5%
FINANCIAL
INSTITUTIONS
20.7%
Banking
13.1%
AIB
Group,
4.75%,
10/12/23 (1)
200‌
197‌
American
Express,
2.25%,
3/4/25 
445‌
418‌
American
Express,
3.375%,
5/3/24 
190‌
185‌
Banco
Bilbao
Vizcaya
Argentaria,
0.875%,
9/18/23 
400‌
384‌
Banco
Santander,
3.496%,
3/24/25 
200‌
191‌
Banco
Santander,
VR,
0.701%,
6/30/24 (2)
400‌
385‌
Bank
of
America,
VR,
0.81%,
10/24/24 (2)
135‌
128‌
Bank
of
America,
VR,
0.976%,
4/22/25 (2)
255‌
237‌
Bank
of
America,
VR,
1.734%,
7/22/27 (2)
190‌
163‌
Bank
of
America,
VR,
1.843%,
2/4/25 (2)
215‌
204‌
Bank
of
America,
VR,
3.384%,
4/2/26 (2)
265‌
251‌
Bank
of
America,
VR,
3.841%,
4/25/25 (2)
190‌
185‌
Bank
of
Ireland
Group,
4.50%,
11/25/23 (1)
870‌
854‌
Bank
of
Montreal,
3.70%,
6/7/25 
350‌
336‌
Bank
of
Montreal,
Series
H,
4.25%,
9/14/24 
390‌
384‌
Bank
of
New
York
Mellon,
VR,
4.414%,
7/24/26 (2)
225‌
220‌
Banque
Federative
du
Credit
Mutuel,
0.65%,
2/27/24 (1)
235‌
221‌
Banque
Federative
du
Credit
Mutuel,
0.998%,
2/4/25 (1)
280‌
252‌
Banque
Federative
du
Credit
Mutuel,
2.125%,
11/21/22 (1)
320‌
319‌
Barclays,
VR,
1.007%,
12/10/24 (2)
245‌
230‌
Barclays,
VR,
4.338%,
5/16/24 (2)
200‌
198‌
T.
ROWE
PRICE
Limited-Term
Bond
Portfolio
4
Par/Shares
$
Value
(Amounts
in
000s)
Barclays,
VR,
5.304%,
8/9/26 (2)
200‌
192‌
BDO
Unibank,
2.95%,
3/6/23 
1,200‌
1,194‌
BPCE,
5.70%,
10/22/23 (1)
1,010‌
1,004‌
Capital
One
Financial,
3.50%,
6/15/23 
140‌
139‌
Capital
One
Financial,
3.90%,
1/29/24 
145‌
143‌
Capital
One
Financial,
VR,
2.636%,
3/3/26 (2)
265‌
246‌
Capital
One
Financial,
VR,
4.985%,
7/24/26 (2)
205‌
201‌
Citigroup,
VR,
0.981%,
5/1/25 (2)
200‌
185‌
Citigroup,
VR,
3.106%,
4/8/26 (2)
240‌
225‌
Citigroup,
VR,
4.14%,
5/24/25 (2)
255‌
249‌
Credicorp,
2.75%,
6/17/25 (1)
200‌
183‌
Credit
Agricole,
FRN,
3M
USD
LIBOR
+
1.02%,
3.803%,
4/24/23 (1)
470‌
470‌
Credit
Suisse,
1.00%,
5/5/23 
635‌
621‌
Credit
Suisse
Group,
VR,
2.997%,
12/14/23 (1)(2)
250‌
248‌
Credit
Suisse
Group,
VR,
6.373%,
7/15/26 (1)(2)
280‌
270‌
Danske
Bank,
1.226%,
6/22/24 (1)
200‌
185‌
Danske
Bank,
5.375%,
1/12/24 (1)
350‌
347‌
Danske
Bank,
VR,
3.773%,
3/28/25 (1)(2)
200‌
192‌
Discover
Bank,
4.20%,
8/8/23 
250‌
248‌
Goldman
Sachs
Group,
3.50%,
4/1/25 
250‌
239‌
Goldman
Sachs
Group,
VR,
0.673%,
3/8/24 (2)
280‌
273‌
Goldman
Sachs
Group,
VR,
0.925%,
10/21/24 (2)
325‌
309‌
Goldman
Sachs
Group,
VR,
1.757%,
1/24/25 (2)
265‌
252‌
Goldman
Sachs
Group,
VR,
4.482%,
8/23/28 (2)
210‌
197‌
HSBC
Holdings,
4.25%,
3/14/24 
200‌
196‌
HSBC
Holdings,
VR,
1.162%,
11/22/24 (2)
200‌
189‌
HSBC
Holdings,
VR,
2.099%,
6/4/26 (2)
375‌
335‌
JPMorgan
Chase,
FRN,
SOFR
+
0.885%,
3.316%,
4/22/27 
75‌
73‌
JPMorgan
Chase,
VR,
0.824%,
6/1/25 (2)
225‌
208‌
JPMorgan
Chase,
VR,
2.083%,
4/22/26 (2)
460‌
419‌
JPMorgan
Chase,
VR,
4.08%,
4/26/26 (2)
440‌
423‌
KeyCorp,
VR,
3.878%,
5/23/25 (2)
105‌
102‌
Mitsubishi
UFJ
Financial
Group,
VR,
0.953%,
7/19/25 (2)
400‌
368‌
Mitsubishi
UFJ
Financial
Group,
VR,
5.063%,
9/12/25 (2)
220‌
218‌
Morgan
Stanley,
VR,
0.529%,
1/25/24 (2)
125‌
123‌
Morgan
Stanley,
VR,
0.56%,
11/10/23 (2)
295‌
293‌
Morgan
Stanley,
VR,
0.731%,
4/5/24 (2)
235‌
229‌
Morgan
Stanley,
VR,
1.164%,
10/21/25 (2)
195‌
178‌
Morgan
Stanley,
VR,
2.63%,
2/18/26 (2)
250‌
233‌
Morgan
Stanley,
VR,
3.62%,
4/17/25 (2)
220‌
214‌
NatWest
Markets,
2.375%,
5/21/23 (1)
465‌
456‌
NatWest
Markets,
3.479%,
3/22/25 (1)
275‌
261‌
Santander
Holdings
USA,
VR,
2.49%,
1/6/28 (2)
190‌
158‌
Standard
Chartered,
3.95%,
1/11/23 (1)
400‌
397‌
Standard
Chartered,
VR,
1.319%,
10/14/23 (1)(2)
200‌
200‌
Par/Shares
$
Value
(Amounts
in
000s)
Standard
Chartered,
VR,
1.822%,
11/23/25 (1)(2)
200‌
181‌
Svenska
Handelsbanken,
VR,
1.418%,
6/11/27 (1)(2)
250‌
215‌
Swedbank,
1.30%,
6/2/23 (1)
365‌
357‌
Synchrony
Financial,
4.25%,
8/15/24 
485‌
472‌
Toronto-Dominion
Bank,
0.70%,
9/10/24 
350‌
322‌
Toronto-Dominion
Bank,
4.285%,
9/13/24 
460‌
453‌
Truist
Financial,
FRN,
SOFR
+
0.40%,
3.259%,
6/9/25 
165‌
162‌
U.S.
Bancorp,
VR,
4.548%,
7/22/28 (2)
355‌
343‌
UBS,
0.70%,
8/9/24 (1)
205‌
189‌
UBS
Group,
VR,
1.494%,
8/10/27 (1)(2)
200‌
167‌
UBS
Group,
VR,
4.488%,
5/12/26 (1)(2)
200‌
193‌
UBS
Group,
VR,
4.49%,
8/5/25 (1)(2)
235‌
229‌
Wells
Fargo,
VR,
1.654%,
6/2/24 (2)
215‌
210‌
Wells
Fargo,
VR,
2.188%,
4/30/26 (2)
205‌
187‌
Wells
Fargo,
VR,
3.526%,
3/24/28 (2)
170‌
154‌
Wells
Fargo,
VR,
3.908%,
4/25/26 (2)
280‌
268‌
Wells
Fargo,
VR,
4.54%,
8/15/26 (2)
275‌
267‌
23,396‌
Brokerage
Asset
Managers
Exchanges
0.4%
Charles
Schwab,
2.45%,
3/3/27 
495‌
445‌
LSEGA
Financing,
0.65%,
4/6/24 (1)
320‌
300‌
745‌
Finance
Companies
2.0%
AerCap
Ireland
Capital,
1.65%,
10/29/24 
330‌
301‌
AerCap
Ireland
Capital,
4.125%,
7/3/23 
205‌
203‌
AerCap
Ireland
Capital,
4.50%,
9/15/23 
400‌
393‌
AerCap
Ireland
Capital,
4.875%,
1/16/24 
300‌
295‌
Air
Lease,
2.25%,
1/15/23 
205‌
204‌
Avolon
Holdings
Funding,
2.125%,
2/21/26 (1)
200‌
168‌
Avolon
Holdings
Funding,
2.875%,
2/15/25 (1)
250‌
226‌
Avolon
Holdings
Funding,
3.95%,
7/1/24 (1)
75‌
71‌
Avolon
Holdings
Funding,
5.125%,
10/1/23 (1)
325‌
319‌
GATX,
3.25%,
9/15/26 
342‌
314‌
GATX,
3.90%,
3/30/23 
200‌
200‌
GATX,
4.35%,
2/15/24 
360‌
354‌
Park
Aerospace
Holdings,
4.50%,
3/15/23 (1)
35‌
35‌
SMBC
Aviation
Capital
Finance,
3.55%,
4/15/24 (1)
235‌
226‌
SMBC
Aviation
Capital
Finance,
4.125%,
7/15/23 (1)
200‌
198‌
3,507‌
Financial
Other
0.2%
LeasePlan,
2.875%,
10/24/24 (1)
400‌
375‌
375‌
Insurance
3.7%
American
International
Group,
2.50%,
6/30/25 
330‌
307‌
Athene
Global
Funding,
1.716%,
1/7/25 (1)
435‌
399‌
Athene
Global
Funding,
2.514%,
3/8/24 (1)
535‌
510‌
Brighthouse
Financial
Global
Funding,
0.60%,
6/28/23 (1)
545‌
527‌
T.
ROWE
PRICE
Limited-Term
Bond
Portfolio
5
Par/Shares
$
Value
(Amounts
in
000s)
Brighthouse
Financial
Global
Funding,
1.00%,
4/12/24 (1)
200‌
187‌
CNO
Global
Funding,
1.65%,
1/6/25 (1)
240‌
220‌
CNO
Global
Funding,
1.75%,
10/7/26 (1)
355‌
308‌
Corebridge
Financial,
3.50%,
4/4/25 (1)
205‌
195‌
Equitable
Financial
Life
Global
Funding,
0.80%,
8/12/24 (1)
255‌
235‌
Equitable
Financial
Life
Global
Funding,
1.10%,
11/12/24 (1)
360‌
331‌
Equitable
Financial
Life
Global
Funding,
1.40%,
7/7/25 (1)
35‌
31‌
First
American
Financial,
4.60%,
11/15/24 
450‌
443‌
Health
Care
Service
Corp
A
Mutual
Legal
Reserve,
1.50%,
6/1/25 (1)
325‌
295‌
Humana,
0.65%,
8/3/23 
135‌
130‌
Humana,
1.35%,
2/3/27 
90‌
76‌
Humana,
2.90%,
12/15/22 
45‌
45‌
Humana,
3.15%,
12/1/22 
85‌
85‌
Humana,
3.85%,
10/1/24 
180‌
176‌
Humana,
4.50%,
4/1/25 
145‌
143‌
Jackson
Financial,
1.125%,
11/22/23 
270‌
259‌
Jackson
National
Life
Global
Funding,
1.75%,
1/12/25 (1)
290‌
267‌
Metropolitan
Life
Global
Funding
I,
4.05%,
8/25/25 (1)
335‌
325‌
Northwestern
Mutual
Global
Funding,
4.35%,
9/15/27 (1)
215‌
208‌
Principal
Life
Global
Funding
II,
0.75%,
4/12/24 (1)
165‌
154‌
Trinity
Acquisition,
4.625%,
8/15/23 
343‌
340‌
UnitedHealth
Group,
3.70%,
5/15/27 
280‌
267‌
Willis
North
America,
3.60%,
5/15/24 
90‌
87‌
6,550‌
Real
Estate
Investment
Trusts
1.3%
Essex
Portfolio,
3.25%,
5/1/23 
470‌
466‌
Highwoods
Realty,
3.625%,
1/15/23 
314‌
314‌
Kimco
Realty,
2.70%,
3/1/24 
465‌
450‌
Public
Storage,
FRN,
SOFR
+
0.47%,
2.917%,
4/23/24 
115‌
114‌
Realty
Income,
3.875%,
7/15/24 
450‌
442‌
WP
Carey,
4.00%,
2/1/25 
465‌
449‌
2,235‌
Total
Financial
Institutions
36,808‌
INDUSTRIAL
25.2%
Basic
Industry
1.9%
ArcelorMittal,
3.60%,
7/16/24 
100‌
97‌
Celanese
U.S.
Holdings,
5.90%,
7/5/24 
440‌
434‌
Celanese
U.S.
Holdings,
6.05%,
3/15/25 
545‌
533‌
Celulosa
Arauco
y
Constitucion,
4.50%,
8/1/24 
200‌
195‌
Cytec
Industries,
3.50%,
4/1/23 
235‌
233‌
Ecolab,
1.65%,
2/1/27 
100‌
88‌
LYB
International
Finance
III,
1.25%,
10/1/25 
177‌
156‌
Nucor,
2.00%,
6/1/25 
80‌
74‌
Nucor,
3.95%,
5/23/25 
125‌
121‌
POSCO,
2.375%,
11/12/22 (1)
1,175‌
1,172‌
Sherwin-Williams,
4.05%,
8/8/24 
75‌
74‌
Sherwin-Williams,
4.25%,
8/8/25 
110‌
107‌
Par/Shares
$
Value
(Amounts
in
000s)
Westlake,
0.875%,
8/15/24 
45‌
42‌
3,326‌
Capital
Goods
0.9%
Amcor
Flexibles
North
America,
4.00%,
5/17/25 
185‌
179‌
Amphenol,
2.05%,
3/1/25 
220‌
206‌
Boral
Finance,
3.00%,
11/1/22 (1)
40‌
40‌
Carrier
Global,
2.242%,
2/15/25 
64‌
60‌
John
Deere
Capital,
4.05%,
9/8/25 
245‌
241‌
Martin
Marietta
Materials,
0.65%,
7/15/23 
195‌
190‌
Parker-Hannifin,
3.65%,
6/15/24 
400‌
390‌
Republic
Services,
2.50%,
8/15/24 
220‌
210‌
Roper
Technologies,
2.35%,
9/15/24 
90‌
86‌
Roper
Technologies,
3.65%,
9/15/23 
75‌
74‌
1,676‌
Communications
4.7%
American
Tower,
2.40%,
3/15/25 
170‌
158‌
Charter
Communications
Operating,
4.908%,
7/23/25 
955‌
932‌
Cox
Communications,
2.95%,
6/30/23 (1)
615‌
607‌
Cox
Communications,
3.15%,
8/15/24 (1)
450‌
431‌
Crown
Castle,
1.05%,
7/15/26 
255‌
216‌
Crown
Castle,
2.90%,
3/15/27 
220‌
194‌
Crown
Castle,
3.15%,
7/15/23 
345‌
340‌
KT,
4.00%,
8/8/25 (1)
450‌
436‌
NTT
Finance,
0.373%,
3/3/23 (1)
275‌
270‌
NTT
Finance,
4.142%,
7/26/24 (1)
200‌
198‌
NTT
Finance,
4.239%,
7/25/25 (1)
200‌
196‌
Rogers
Communications,
3.20%,
3/15/27 (1)
310‌
282‌
SBA
Tower
Trust,
1.631%,
11/15/26 (1)
115‌
98‌
SBA
Tower
Trust,
1.884%,
1/15/26 (1)
85‌
75‌
SBA
Tower
Trust,
2.836%,
1/15/25 (1)
325‌
305‌
SBA
Tower
Trust,
3.448%,
3/15/23 (1)
250‌
248‌
SBA
Tower
Trust,
Series
2014-2A,
Class
C,
3.869%,
10/15/49 (1)
110‌
106‌
SES,
3.60%,
4/4/23 (1)
455‌
449‌
Sky,
3.75%,
9/16/24 (1)
975‌
951‌
T-Mobile
USA,
2.25%,
2/15/26 
195‌
174‌
T-Mobile
USA,
3.50%,
4/15/25 
265‌
253‌
Take-Two
Interactive
Software,
3.30%,
3/28/24 
220‌
215‌
Take-Two
Interactive
Software,
3.55%,
4/14/25 
75‌
72‌
Verizon
Communications,
1.45%,
3/20/26 
270‌
238‌
Verizon
Communications,
2.625%,
8/15/26 
395‌
359‌
Warnermedia
Holdings,
3.755%,
3/15/27 (1)
700‌
627‌
8,430‌
Consumer
Cyclical
4.1%
7-Eleven,
0.625%,
2/10/23 (1)
85‌
84‌
7-Eleven,
0.80%,
2/10/24 (1)
135‌
128‌
Aptiv,
2.396%,
2/18/25 
205‌
191‌
AutoZone,
3.625%,
4/15/25 
120‌
115‌
Daimler
Trucks
Finance
North
America,
1.625%,
12/13/24 (1)
260‌
240‌
General
Motors,
4.875%,
10/2/23 
180‌
179‌
General
Motors,
5.40%,
10/2/23 
450‌
450‌
General
Motors
Financial,
2.90%,
2/26/25 
485‌
452‌
T.
ROWE
PRICE
Limited-Term
Bond
Portfolio
6
Par/Shares
$
Value
(Amounts
in
000s)
Genuine
Parts,
1.75%,
2/1/25 
105‌
97‌
Hyatt
Hotels,
1.30%,
10/1/23 
140‌
134‌
Hyundai
Capital
America,
0.80%,
1/8/24 (1)
160‌
150‌
Hyundai
Capital
America,
0.875%,
6/14/24 (1)
80‌
74‌
Hyundai
Capital
America,
1.00%,
9/17/24 (1)
110‌
100‌
Hyundai
Capital
America,
2.375%,
2/10/23 (1)
470‌
466‌
Hyundai
Capital
America,
2.85%,
11/1/22 (1)
131‌
131‌
Hyundai
Capital
Services,
2.125%,
4/24/25 (1)
200‌
183‌
Lowe's,
3.35%,
4/1/27 
80‌
74‌
Lowe's,
4.40%,
9/8/25 
305‌
301‌
Marriott
International,
2.125%,
10/3/22 
170‌
170‌
Marriott
International,
3.125%,
2/15/23 
80‌
80‌
Marriott
International,
3.60%,
4/15/24 
425‌
416‌
Mercedes-Benz
Finance
North
America,
1.75%,
3/10/23 (1)
435‌
430‌
Nissan
Motor,
3.043%,
9/15/23 (1)
665‌
646‌
Nordstrom,
2.30%,
4/8/24 
35‌
33‌
QVC,
4.85%,
4/1/24 
360‌
339‌
Ross
Stores,
0.875%,
4/15/26 
155‌
134‌
Ross
Stores,
4.60%,
4/15/25 
550‌
545‌
Stellantis
Finance
U.S.,
1.711%,
1/29/27 (1)
200‌
167‌
Toyota
Motor
Credit,
3.95%,
6/30/25 
415‌
406‌
Volkswagen
Group
of
America
Finance,
3.125%,
5/12/23 (1)
200‌
198‌
Volkswagen
Group
of
America
Finance,
3.95%,
6/6/25 (1)
200‌
192‌
7,305‌
Consumer
Non-Cyclical
5.4%
AbbVie,
2.60%,
11/21/24 
715‌
681‌
AbbVie,
2.95%,
11/21/26 
510‌
467‌
AbbVie,
3.20%,
5/14/26 
45‌
42‌
AmerisourceBergen,
3.40%,
5/15/24 
455‌
446‌
Anheuser-Busch,
3.65%,
2/1/26 
120‌
115‌
Astrazeneca
Finance,
1.20%,
5/28/26 
320‌
281‌
BAT
International
Finance,
1.668%,
3/25/26 
225‌
194‌
BAT
International
Finance,
4.448%,
3/16/28 
460‌
412‌
Baxter
International,
0.868%,
12/1/23 
350‌
334‌
Bayer
U.S.
Finance
II,
3.875%,
12/15/23 (1)
250‌
245‌
Becton
Dickinson
&
Company,
3.363%,
6/6/24 
336‌
327‌
Becton
Dickinson
&
Company,
3.734%,
12/15/24 
78‌
75‌
Brunswick,
0.85%,
8/18/24 
290‌
267‌
Cardinal
Health,
3.079%,
6/15/24 
180‌
174‌
Cardinal
Health,
3.20%,
3/15/23 
185‌
184‌
Cardinal
Health,
3.50%,
11/15/24 
215‌
209‌
Cigna,
3.75%,
7/15/23 
104‌
103‌
Coca-Cola
Europacific
Partners,
0.80%,
5/3/24 (1)
680‌
634‌
CommonSpirit
Health,
1.547%,
10/1/25 
170‌
152‌
Constellation
Brands,
3.60%,
5/9/24 
225‌
220‌
CSL
Finance,
3.85%,
4/27/27 (1)
90‌
85‌
CVS
Health,
2.875%,
6/1/26 
115‌
106‌
CVS
Health,
3.00%,
8/15/26 
105‌
97‌
Par/Shares
$
Value
(Amounts
in
000s)
HCA,
3.125%,
3/15/27 (1)
260‌
230‌
Imperial
Brands
Finance,
3.125%,
7/26/24 (1)
480‌
458‌
Imperial
Brands
Finance,
4.25%,
7/21/25 (1)
200‌
191‌
JDE
Peet's,
0.80%,
9/24/24 (1)
150‌
137‌
Mondelez
International,
2.625%,
3/17/27 
190‌
170‌
Mondelez
International
Holdings
Netherlands,
4.25%,
9/15/25 (1)
200‌
196‌
Nestle
Holdings,
4.00%,
9/12/25 (1)
300‌
295‌
PeaceHealth
Obligated
Group,
Series
2020,
1.375%,
11/15/25 
50‌
45‌
PerkinElmer,
0.55%,
9/15/23 
165‌
158‌
PerkinElmer,
0.85%,
9/15/24 
715‌
653‌
Perrigo
Finance
Unlimited,
3.90%,
12/15/24 
675‌
631‌
Royalty
Pharma,
0.75%,
9/2/23 
215‌
206‌
Shire
Acquisitions
Investments
Ireland,
2.875%,
9/23/23 
168‌
164‌
Viatris,
1.65%,
6/22/25 
140‌
124‌
9,508‌
Energy
4.0%
Aker
BP,
3.00%,
1/15/25 (1)
360‌
337‌
Canadian
Natural
Resources,
2.05%,
7/15/25 
335‌
305‌
Cheniere
Corpus
Christi
Holdings,
5.875%,
3/31/25 
375‌
376‌
Cheniere
Corpus
Christi
Holdings,
7.00%,
6/30/24 
465‌
473‌
Devon
Energy,
8.25%,
8/1/23 
130‌
133‌
Enbridge,
2.15%,
2/16/24 
315‌
302‌
Enbridge,
2.50%,
1/15/25 
265‌
249‌
Enbridge,
2.50%,
2/14/25 
150‌
141‌
Energy
Transfer,
2.90%,
5/15/25 
65‌
60‌
Energy
Transfer,
3.45%,
1/15/23 
30‌
30‌
Energy
Transfer,
4.25%,
3/15/23 
440‌
439‌
Energy
Transfer,
4.25%,
4/1/24 
15‌
15‌
Energy
Transfer,
4.90%,
2/1/24 
175‌
174‌
Energy
Transfer,
5.875%,
1/15/24 
610‌
612‌
Energy
Transfer,
Series
5Y,
4.20%,
9/15/23 
85‌
84‌
Eni,
Series
X-R,
4.00%,
9/12/23 (1)
470‌
464‌
Gray
Oak
Pipeline,
2.00%,
9/15/23 (1)
50‌
48‌
Gray
Oak
Pipeline,
2.60%,
10/15/25 (1)
105‌
94‌
Pioneer
Natural
Resources,
0.55%,
5/15/23 
140‌
137‌
Plains
All
American
Pipeline,
2.85%,
1/31/23 
305‌
303‌
Sabine
Pass
Liquefaction,
5.625%,
4/15/23 
630‌
630‌
Sabine
Pass
Liquefaction,
5.625%,
3/1/25 
255‌
255‌
Sabine
Pass
Liquefaction,
5.75%,
5/15/24 
300‌
301‌
Schlumberger
Finance
Canada,
1.40%,
9/17/25 
80‌
72‌
Schlumberger
Holdings,
3.75%,
5/1/24 (1)
340‌
333‌
Schlumberger
Holdings,
4.00%,
12/21/25 (1)
95‌
91‌
Williams,
3.70%,
1/15/23 
570‌
570‌
Williams,
4.30%,
3/4/24 
75‌
73‌
7,101‌
T.
ROWE
PRICE
Limited-Term
Bond
Portfolio
7
Par/Shares
$
Value
(Amounts
in
000s)
Industrial
Other
0.5%
CK
Hutchison
International
II,
2.75%,
3/29/23 
950‌
941‌
941‌
Technology
2.1%
Analog
Devices,
FRN,
SOFR
+
0.25%,
3.221%,
10/1/24 
70‌
69‌
CDW,
5.50%,
12/1/24 
75‌
74‌
Fidelity
National
Information
Services,
0.375%,
3/1/23 
275‌
270‌
Fidelity
National
Information
Services,
0.60%,
3/1/24 
130‌
122‌
Fidelity
National
Information
Services,
4.50%,
7/15/25 
135‌
132‌
Fortinet,
1.00%,
3/15/26 
160‌
138‌
Marvell
Technology,
4.20%,
6/22/23 
255‌
254‌
Microchip
Technology,
0.972%,
2/15/24 
300‌
283‌
Microchip
Technology,
0.983%,
9/1/24 
220‌
202‌
Microchip
Technology,
2.67%,
9/1/23 
250‌
244‌
NXP,
2.70%,
5/1/25 
175‌
162‌
NXP,
3.875%,
6/18/26 
110‌
103‌
NXP,
4.40%,
6/1/27 
35‌
33‌
NXP,
4.875%,
3/1/24 
230‌
227‌
Qorvo,
1.75%,
12/15/24 (1)
125‌
114‌
RELX
Capital,
3.50%,
3/16/23 
160‌
159‌
S&P
Global,
2.45%,
3/1/27 (1)
510‌
457‌
Skyworks
Solutions,
0.90%,
6/1/23 
70‌
68‌
VMware,
0.60%,
8/15/23 
165‌
159‌
Western
Union,
2.85%,
1/10/25 
390‌
368‌
Workday,
3.50%,
4/1/27 
120‌
111‌
3,749‌
Transportation
1.6%
American
Airlines
PTT,
Series
2017-2,
Class
B,
3.70%,
10/15/25 
331‌
291‌
Canadian
Pacific
Railway,
1.35%,
12/2/24 
315‌
291‌
Canadian
Pacific
Railway,
1.75%,
12/2/26 
135‌
118‌
HPHT
Finance,
2.875%,
11/5/24 
600‌
573‌
Kansas
City
Southern,
3.00%,
5/15/23 
255‌
253‌
Penske
Truck
Leasing,
2.70%,
3/14/23 (1)
321‌
318‌
Penske
Truck
Leasing,
3.45%,
7/1/24 (1)
172‌
168‌
Penske
Truck
Leasing,
4.25%,
1/17/23 (1)
70‌
70‌
Sydney
Airport
Finance,
3.90%,
3/22/23 (1)
250‌
248‌
Triton
Container
International,
0.80%,
8/1/23 (1)
325‌
310‌
United
Airlines
PTT,
Series
2019-2,
Class
B,
3.50%,
5/1/28 
202‌
166‌
2,806‌
Total
Industrial
44,842‌
UTILITY
2.6%
Electric
2.1%
AES,
3.30%,
7/15/25 (1)
190‌
175‌
Alexander
Funding
Trust,
1.841%,
11/15/23 (1)
225‌
211‌
DTE
Energy,
STEP,
4.22%,
11/1/24 
240‌
235‌
Edison
International,
2.95%,
3/15/23 
110‌
108‌
Edison
International,
3.125%,
11/15/22 
170‌
170‌
Enel
Finance
International,
1.375%,
7/12/26 (1)
265‌
225‌
Par/Shares
$
Value
(Amounts
in
000s)
Enel
Finance
International,
2.65%,
9/10/24 (1)
405‌
382‌
NextEra
Energy
Capital
Holdings,
1.875%,
1/15/27 
310‌
269‌
NextEra
Energy
Capital
Holdings,
4.45%,
6/20/25 
230‌
225‌
NRG
Energy,
3.75%,
6/15/24 (1)
155‌
149‌
Pacific
Gas
&
Electric,
3.50%,
6/15/25 
220‌
199‌
Pacific
Gas
&
Electric,
FRN,
SOFRINDX
+
1.15%,
3.803%,
11/14/22 
45‌
45‌
Vistra
Operations,
3.55%,
7/15/24 (1)
1,150‌
1,095‌
Vistra
Operations,
5.125%,
5/13/25 (1)
285‌
277‌
3,765‌
Natural
Gas
0.5%
APT
Pipelines,
4.20%,
3/23/25 (1)
535‌
514‌
Sempra
Energy,
3.30%,
4/1/25 
175‌
167‌
Southern
California
Gas,
2.95%,
4/15/27 
185‌
169‌
850‌
Total
Utility
4,615‌
Total
Corporate
Bonds
(Cost
$90,758)
86,265‌
FOREIGN
GOVERNMENT
OBLIGATIONS
&
MUNICIPALITIES
0.6%
Owned
No
Guarantee
0.6%
DAE
Funding,
1.55%,
8/1/24 (1)
200‌
183‌
Korea
Hydro
&
Nuclear
Power,
4.25%,
7/27/27 (1)
490‌
472‌
NBN,
1.45%,
5/5/26 (1)
405‌
355‌
Total
Foreign
Government
Obligations
&
Municipalities
(Cost
$1,090)
1,010‌
MUNICIPAL
SECURITIES
0.4%
California
0.1%
Golden
State
Tobacco
Securitization,
Series A-1,
1.711%,
6/1/24 
200‌
189‌
189‌
Illinois
0.2%
Illinois,
Series A,
GO,
2.25%,
10/1/22 
415‌
415‌
415‌
New
York
0.1%
Long
Island
Power
Auth.,
Series C,
0.764%,
3/1/23 
85‌
84‌
84‌
Total
Municipal
Securities
(Cost
$700)
688‌
NON-U.S.
GOVERNMENT
MORTGAGE-BACKED
SECURITIES
16.5%
Collateralized
Mortgage
Obligations
9.2%
Angel
Oak
Mortgage
Trust
Series
2020-3,
Class
A1,
CMO,
ARM
1.691%,
4/25/65 (1)
28‌
26‌
T.
ROWE
PRICE
Limited-Term
Bond
Portfolio
8
Par/Shares
$
Value
(Amounts
in
000s)
Angel
Oak
Mortgage
Trust
Series
2020-3,
Class
A3,
CMO,
ARM
2.872%,
4/25/65 (1)
29‌
27‌
Angel
Oak
Mortgage
Trust
Series
2020-5,
Class
A2,
CMO,
ARM
1.579%,
5/25/65 (1)
42‌
38‌
Angel
Oak
Mortgage
Trust
Series
2021-1,
Class
A1,
CMO,
ARM
0.909%,
1/25/66 (1)
140‌
120‌
Angel
Oak
Mortgage
Trust
Series
2021-1,
Class
A2,
CMO,
ARM
1.115%,
1/25/66 (1)
40‌
34‌
Angel
Oak
Mortgage
Trust
Series
2021-2,
Class
A1,
CMO,
ARM
0.985%,
4/25/66 (1)
115‌
98‌
Angel
Oak
Mortgage
Trust
Series
2021-3,
Class
A1,
CMO,
ARM
1.068%,
5/25/66 (1)
97‌
82‌
Angel
Oak
Mortgage
Trust
Series
2021-6,
Class
A2,
CMO,
ARM
1.581%,
9/25/66 (1)
116‌
92‌
Angel
Oak
Mortgage
Trust
Series
2021-6,
Class
A3,
CMO,
ARM
1.714%,
9/25/66 (1)
108‌
85‌
Barclays
Mortgage
Loan
Trust
Series
2021-NQM1,
Class
A1,
CMO,
ARM
1.747%,
9/25/51 (1)
267‌
233‌
Bayview
MSR
Opportunity
Master
Fund
Trust
Series
2021-2,
Class
A5,
CMO,
ARM
2.50%,
6/25/51 (1)
207‌
179‌
Bayview
MSR
Opportunity
Master
Fund
Trust
Series
2021-5,
Class
A5,
CMO,
ARM
2.50%,
11/25/51 (1)
158‌
136‌
BINOM
Securitization
Trust
Series
2021-INV1,
Class
A2,
CMO,
ARM
2.37%,
6/25/56 (1)
297‌
259‌
BINOM
Securitization
Trust
Series
2021-INV1,
Class
A3,
CMO,
ARM
2.625%,
6/25/56 (1)
94‌
82‌
BRAVO
Residential
Funding
Trust
Series
2021-NQM3,
Class
A1,
CMO,
ARM
1.699%,
4/25/60 (1)
152‌
137‌
CIM
Trust
Series
2020-INV1,
Class
A2,
CMO,
ARM
2.50%,
4/25/50 (1)
82‌
68‌
CIM
Trust
Series
2021-INV1,
Class
A8,
CMO,
ARM
2.50%,
7/1/51 (1)
101‌
87‌
Citigroup
Mortgage
Loan
Trust
Series
2020-EXP2,
Class
A3,
CMO,
ARM
2.50%,
8/25/50 (1)
62‌
51‌
COLT
Mortgage
Loan
Trust
Series
2021-1,
Class
A2,
CMO,
ARM
1.167%,
6/25/66 (1)
116‌
96‌
COLT
Mortgage
Loan
Trust
Series
2021-3,
Class
A3,
CMO,
ARM
1.419%,
9/27/66 (1)
97‌
77‌
Par/Shares
$
Value
(Amounts
in
000s)
COLT
Mortgage
Loan
Trust
Series
2021-6,
Class
A1,
CMO,
ARM
1.907%,
12/25/66 (1)
140‌
120‌
COLT
Mortgage
Loan
Trust
Series
2022-3,
Class
A1,
CMO,
ARM
3.901%,
2/25/67 (1)
255‌
232‌
Connecticut
Avenue
Securities
Series
2017-C02,
Class
2ED3,
CMO,
ARM
1M
USD
LIBOR
+
1.35%,
4.434%,
9/25/29 
17‌
17‌
Connecticut
Avenue
Securities
Series
2017-C05,
Class
1ED3,
CMO,
ARM
1M
USD
LIBOR
+
1.20%,
4.284%,
1/25/30 
20‌
20‌
Connecticut
Avenue
Securities
Trust
Series
2022-R01,
Class
1M1,
CMO,
ARM
SOFR30A
+
1.00%,
3.281%,
12/25/41 (1)
288‌
282‌
Connecticut
Avenue
Securities
Trust
Series
2022-R02,
Class
2M1,
CMO,
ARM
SOFR30A
+
1.20%,
3.481%,
1/25/42 (1)
352‌
345‌
Connecticut
Avenue
Securities
Trust
Series
2022-R03,
Class
1M1,
CMO,
ARM
SOFR30A
+
2.10%,
4.381%,
3/25/42 (1)
226‌
224‌
Connecticut
Avenue
Securities
Trust
Series
2022-R04,
Class
1M1,
CMO,
ARM
SOFR30A
+
2.00%,
4.281%,
3/25/42 (1)
145‌
143‌
Connecticut
Avenue
Securities
Trust
Series
2022-R05,
Class
2M1,
CMO,
ARM
SOFR30A
+
1.90%,
4.181%,
4/25/42 (1)
273‌
268‌
Connecticut
Avenue
Securities
Trust
Series
2022-R06,
Class
1M1,
CMO,
ARM
SOFR30A
+
2.75%,
5.031%,
5/25/42 (1)
246‌
246‌
Connecticut
Avenue
Securities
Trust
Series
2022-R07,
Class
1M1,
CMO,
ARM
SOFR30A
+
2.95%,
5.255%,
6/25/42 (1)
258‌
258‌
Connecticut
Avenue
Securities
Trust
Series
2022-R08,
Class
1M1,
CMO,
ARM
SOFR30A
+
2.55%,
4.855%,
7/25/42 (1)
102‌
101‌
Deephaven
Residential
Mortgage
Trust
Series
2021-1,
Class
A2,
CMO,
ARM
0.973%,
5/25/65 (1)
33‌
31‌
Deephaven
Residential
Mortgage
Trust
Series
2021-2,
Class
A1,
CMO,
ARM
0.899%,
4/25/66 (1)
60‌
50‌
Deephaven
Residential
Mortgage
Trust
Series
2021-2,
Class
A3,
CMO,
ARM
1.26%,
4/25/66 (1)
60‌
51‌
Eagle
Series
2021-2,
Class
M1A,
CMO,
ARM
SOFR30A
+
1.55%,
3.831%,
4/25/34 (1)
150‌
149‌
Ellington
Financial
Mortgage
Trust
Series
2019-2,
Class
A3,
CMO,
ARM
3.046%,
11/25/59 (1)
23‌
22‌
Ellington
Financial
Mortgage
Trust
Series
2021-1,
Class
A1,
CMO,
ARM
0.797%,
2/25/66 (1)
39‌
33‌
Ellington
Financial
Mortgage
Trust
Series
2021-1,
Class
A3,
CMO,
ARM
1.106%,
2/25/66 (1)
39‌
33‌
Ellington
Financial
Mortgage
Trust
Series
2021-2,
Class
A1,
CMO,
ARM
0.931%,
6/25/66 (1)
238‌
198‌
T.
ROWE
PRICE
Limited-Term
Bond
Portfolio
9
Par/Shares
$
Value
(Amounts
in
000s)
Ellington
Financial
Mortgage
Trust
Series
2021-2,
Class
A3,
CMO,
ARM
1.291%,
6/25/66 (1)
70‌
58‌
Ellington
Financial
Mortgage
Trust
Series
2021-3,
Class
A1,
CMO,
ARM
1.241%,
9/25/66 (1)
101‌
81‌
Flagstar
Mortgage
Trust
Series
2020-1INV,
Class
A11,
CMO,
ARM
1M
USD
LIBOR
+
0.85%,
3.934%,
3/25/50 (1)
152‌
144‌
Flagstar
Mortgage
Trust
Series
2021-5INV,
Class
A5,
CMO,
ARM
2.50%,
7/25/51 (1)
208‌
180‌
Freddie
Mac
Whole
Loan
Securities
Trust
Series
2017-SC01,
Class
M1,
CMO,
ARM
3.647%,
12/25/46 (1)
72‌
69‌
Freddie
Mac
Whole
Loan
Securities
Trust
Series
2017-SC02,
Class
M1,
CMO,
ARM
3.857%,
5/25/47 (1)
35‌
34‌
Galton
Funding
Mortgage
Trust
Series
2018-1,
Class
A33,
CMO,
ARM
3.50%,
11/25/57 (1)
53‌
48‌
Galton
Funding
Mortgage
Trust
Series
2019-1,
Class
A21,
CMO,
ARM
4.50%,
2/25/59 (1)
17‌
16‌
Galton
Funding
Mortgage
Trust
Series
2019-1,
Class
A32,
CMO,
ARM
4.00%,
2/25/59 (1)
26‌
25‌
Galton
Funding
Mortgage
Trust
Series
2019-H1,
Class
M1,
CMO,
ARM
3.339%,
10/25/59 (1)
230‌
216‌
Galton
Funding
Mortgage
Trust
Series
2020-H1,
Class
M1,
CMO,
ARM
2.832%,
1/25/60 (1)
380‌
308‌
GS
Mortgage-Backed
Securities
Trust
Series
2014-EB1A,
Class
2A1,
CMO,
ARM
1.964%,
7/25/44 (1)
5‌
5‌
GS
Mortgage-Backed
Securities
Trust
Series
2021-GR2,
Class
A6,
CMO,
ARM
2.50%,
2/25/52 (1)
225‌
193‌
GS
Mortgage-Backed
Securities
Trust
Series
2021-HP1,
Class
A6,
CMO,
ARM
2.50%,
1/25/52 (1)
135‌
116‌
GS
Mortgage-Backed
Securities
Trust
Series
2021-PJ5,
Class
A8,
CMO,
ARM
2.50%,
10/25/51 (1)
294‌
252‌
GS
Mortgage-Backed
Securities
Trust
Series
2022-GR1,
Class
A5,
CMO,
ARM
2.50%,
6/25/52 (1)
459‌
395‌
Hundred
Acre
Wood
Trust
Series
2021-INV1,
Class
A9,
CMO,
ARM
2.50%,
7/25/51 (1)
198‌
172‌
Imperial
Fund
Mortgage
Trust
Series
2021-NQM2,
Class
A3,
CMO,
ARM
1.516%,
9/25/56 (1)
115‌
92‌
Imperial
Fund
Mortgage
Trust
Series
2022-NQM4,
Class
A1,
CMO,
STEP
4.767%,
6/25/67 (1)
372‌
356‌
JPMorgan
Mortgage
Trust
Series
2020-INV1,
Class
A15,
CMO,
ARM
3.50%,
8/25/50 (1)
107‌
97‌
Par/Shares
$
Value
(Amounts
in
000s)
Mello
Mortgage
Capital
Acceptance
Series
2021-INV3,
Class
A4,
CMO,
ARM
2.50%,
10/25/51 (1)
179‌
154‌
MFA
Trust
Series
2021-INV1,
Class
A1,
CMO,
ARM
0.852%,
1/25/56 (1)
67‌
62‌
MFA
Trust
Series
2021-NQM2,
Class
A2,
CMO,
ARM
1.317%,
11/25/64 (1)
60‌
49‌
New
Residential
Mortgage
Loan
Trust
Series
2021-INV1,
Class
A6,
CMO,
ARM
2.50%,
6/25/51 (1)
138‌
119‌
New
Residential
Mortgage
Loan
Trust
Series
2021-INV2,
Class
A7,
CMO,
ARM
2.50%,
9/25/51 (1)
404‌
348‌
NLT
Trust
Series
2021-INV2,
Class
A1,
CMO,
ARM
1.162%,
8/25/56 (1)
404‌
339‌
NLT
Trust
Series
2021-INV2,
Class
A3,
CMO,
ARM
1.52%,
8/25/56 (1)
107‌
90‌
OBX
Trust
Series
2019-EXP2,
Class
2A2,
CMO,
ARM
1M
USD
LIBOR
+
1.20%,
4.284%,
6/25/59 (1)
30‌
29‌
OBX
Trust
Series
2020-EXP1,
Class
2A2,
CMO,
ARM
1M
USD
LIBOR
+
0.95%,
4.034%,
2/25/60 (1)
38‌
37‌
OBX
Trust
Series
2020-EXP2,
Class
A8,
CMO,
ARM
3.00%,
5/25/60 (1)
109‌
97‌
OBX
Trust
Series
2020-EXP2,
Class
A9,
CMO,
ARM
3.00%,
5/25/60 (1)
29‌
25‌
OBX
Trust
Series
2020-INV1,
Class
A5,
CMO,
ARM
3.50%,
12/25/49 (1)
64‌
58‌
OBX
Trust
Series
2021-J1,
Class
A4,
CMO,
ARM
2.50%,
5/25/51 (1)
215‌
184‌
OBX
Trust
Series
2021-NQM1,
Class
A1,
CMO,
ARM
1.072%,
2/25/66 (1)
137‌
119‌
OBX
Trust
Series
2021-NQM3,
Class
A1,
CMO,
ARM
1.054%,
7/25/61 (1)
103‌
83‌
Oceanview
Mortgage
Trust
Series
2022-1,
Class
A5,
CMO,
ARM
2.50%,
12/25/51 (1)
215‌
185‌
PSMC
Trust
Series
2021-1,
Class
A11,
CMO,
ARM
2.50%,
3/25/51 (1)
322‌
277‌
PSMC
Trust
Series
2021-2,
Class
A3,
CMO,
ARM
2.50%,
5/25/51 (1)
238‌
206‌
Sequoia
Mortgage
Trust
Series
2018-CH2,
Class
A21,
CMO,
ARM
4.00%,
6/25/48 (1)
32‌
30‌
T.
ROWE
PRICE
Limited-Term
Bond
Portfolio
10
Par/Shares
$
Value
(Amounts
in
000s)
Sequoia
Mortgage
Trust
Series
2018-CH3,
Class
A19,
CMO,
ARM
4.50%,
8/25/48 (1)
7‌
7‌
Sequoia
Mortgage
Trust
Series
2018-CH4,
Class
A2,
CMO,
ARM
4.00%,
10/25/48 (1)
7‌
7‌
SG
Residential
Mortgage
Trust
Series
2020-2,
Class
A1,
CMO,
ARM
1.381%,
5/25/65 (1)
50‌
44‌
SG
Residential
Mortgage
Trust
Series
2022-1,
Class
A1,
CMO,
ARM
3.166%,
3/27/62 (1)
139‌
125‌
Starwood
Mortgage
Residential
Trust
Series
2019-INV1,
Class
A3,
CMO,
ARM
2.916%,
9/27/49 (1)
236‌
225‌
Starwood
Mortgage
Residential
Trust
Series
2021-2,
Class
A1,
CMO,
ARM
0.943%,
5/25/65 (1)
120‌
112‌
Starwood
Mortgage
Residential
Trust
Series
2021-4,
Class
A1,
CMO,
ARM
1.162%,
8/25/56 (1)
290‌
246‌
Structured
Agency
Credit
Risk
Debt
Notes
Series
2021-DNA2,
Class
M1,
CMO,
ARM
SOFR30A
+
0.80%,
3.081%,
8/25/33 (1)
32‌
31‌
Structured
Agency
Credit
Risk
Debt
Notes
Series
2021-DNA5,
Class
M2,
CMO,
ARM
SOFR30A
+
1.65%,
3.931%,
1/25/34 (1)
96‌
93‌
Structured
Agency
Credit
Risk
Debt
Notes
Series
2021-DNA6,
Class
M2,
CMO,
ARM
SOFR30A
+
1.50%,
3.781%,
10/25/41 (1)
140‌
127‌
Structured
Agency
Credit
Risk
Debt
Notes
Series
2021-DNA7,
Class
M2,
CMO,
ARM
SOFR30A
+
1.80%,
4.081%,
11/25/41 (1)
90‌
81‌
Structured
Agency
Credit
Risk
Debt
Notes
Series
2021-HQA1,
Class
M1,
CMO,
ARM
SOFR30A
+
0.70%,
2.981%,
8/25/33 (1)
10‌
10‌
Structured
Agency
Credit
Risk
Debt
Notes
Series
2021-HQA3,
Class
M1,
CMO,
ARM
SOFR30A
+
0.85%,
3.131%,
9/25/41 (1)
157‌
151‌
Structured
Agency
Credit
Risk
Debt
Notes
Series
2021-HQA4,
Class
M1,
CMO,
ARM
SOFR30A
+
0.95%,
3.231%,
12/25/41 (1)
468‌
446‌
Structured
Agency
Credit
Risk
Debt
Notes
Series
2022-DNA1,
Class
M1A,
CMO,
ARM
SOFR30A
+
1.00%,
3.281%,
1/25/42 (1)
182‌
177‌
Structured
Agency
Credit
Risk
Debt
Notes
Series
2022-DNA3,
Class
M1A,
CMO,
ARM
SOFR30A
+
2.00%,
4.281%,
4/25/42 (1)
288‌
285‌
Structured
Agency
Credit
Risk
Debt
Notes
Series
2022-DNA4,
Class
M1A,
CMO,
ARM
SOFR30A
+
2.20%,
4.481%,
5/25/42 (1)
333‌
330‌
Structured
Agency
Credit
Risk
Debt
Notes
Series
2022-DNA5,
Class
M1A,
CMO,
ARM
SOFR30A
+
2.95%,
5.231%,
6/25/42 (1)
313‌
314‌
Structured
Agency
Credit
Risk
Debt
Notes
Series
2022-DNA6,
Class
M1A,
CMO,
ARM
SOFR30A
+
2.15%,
4.435%,
9/25/42 (1)
105‌
104‌
Structured
Agency
Credit
Risk
Debt
Notes
Series
2022-HQA1,
Class
M1A,
CMO,
ARM
SOFR30A
+
2.10%,
4.381%,
3/25/42 (1)
354‌
352‌
Par/Shares
$
Value
(Amounts
in
000s)
Structured
Agency
Credit
Risk
Debt
Notes
Series
2022-HQA3,
Class
M1A,
CMO,
ARM
SOFR30A
+
2.30%,
4.581%,
8/25/42 (1)
147‌
145‌
Toorak
Mortgage
Series
2021-INV1,
Class
A2,
CMO,
ARM
1.409%,
7/25/56 (1)
71‌
61‌
Towd
Point
Mortgage
Trust
Series
2022-4,
Class
A1,
CMO,
ARM
3.75%,
9/25/62 (1)
460‌
436‌
UWM
Mortgage
Trust
Series
2021-INV2,
Class
A4,
CMO,
ARM
2.50%,
9/25/51 (1)
71‌
61‌
UWM
Mortgage
Trust
Series
2021-INV5,
Class
A4,
CMO,
ARM
2.50%,
1/25/52 (1)
436‌
375‌
Verus
Securitization
Trust
Series
2019-4,
Class
A3,
CMO,
STEP
3.00%,
11/25/59 (1)
222‌
215‌
Verus
Securitization
Trust
Series
2019-INV3,
Class
A3,
CMO,
ARM
3.10%,
11/25/59 (1)
217‌
208‌
Verus
Securitization
Trust
Series
2020-1,
Class
A3,
CMO,
STEP
2.724%,
1/25/60 (1)
275‌
265‌
Verus
Securitization
Trust
Series
2020-5,
Class
A3,
CMO,
STEP
1.733%,
5/25/65 (1)
37‌
34‌
Verus
Securitization
Trust
Series
2021-1,
Class
A1,
CMO,
ARM
0.815%,
1/25/66 (1)
45‌
39‌
Verus
Securitization
Trust
Series
2021-1,
Class
A2,
CMO,
ARM
1.052%,
1/25/66 (1)
60‌
52‌
Verus
Securitization
Trust
Series
2021-1,
Class
A3,
CMO,
ARM
1.155%,
1/25/66 (1)
43‌
37‌
Verus
Securitization
Trust
Series
2021-2,
Class
A1,
CMO,
ARM
1.031%,
2/25/66 (1)
79‌
66‌
Verus
Securitization
Trust
Series
2021-5,
Class
A3,
CMO,
ARM
1.373%,
9/25/66 (1)
101‌
82‌
Verus
Securitization
Trust
Series
2021-7,
Class
A1,
CMO,
ARM
1.829%,
10/25/66 (1)
373‌
316‌
Verus
Securitization
Trust
Series
2021-R1,
Class
A2,
CMO,
ARM
1.057%,
10/25/63 (1)
29‌
26‌
Verus
Securitization
Trust
Series
2021-R2,
Class
A1,
CMO,
ARM
0.918%,
2/25/64 (1)
84‌
77‌
Verus
Securitization
Trust
Series
2022-1,
Class
A3,
CMO,
ARM
3.288%,
1/25/67 (1)
318‌
264‌
Wells
Fargo
Mortgage
Backed
Securities
Trust
Series
2021-RR1,
Class
A3,
CMO,
ARM
2.50%,
12/25/50 (1)
256‌
220‌
16,424‌
T.
ROWE
PRICE
Limited-Term
Bond
Portfolio
11
Par/Shares
$
Value
(Amounts
in
000s)
Commercial
Mortgage-Backed
Securities
6.9%
Arbor
Realty
Commercial
Real
Estate
Notes
Series
2021-FL3,
Class
A,
ARM
1M
USD
LIBOR
+
1.07%,
3.888%,
8/15/34 (1)
270‌
259‌
Arbor
Realty
Commercial
Real
Estate
Notes
Series
2021-FL4,
Class
A,
ARM
1M
USD
LIBOR
+
1.35%,
4.168%,
11/15/36 (1)
200‌
196‌
BAMLL
Commercial
Mortgage
Securities
Trust
Series
2021-JACX,
Class
C,
ARM
1M
USD
LIBOR
+
2.00%,
4.818%,
9/15/38 (1)
190‌
179‌
BCP
Trust
Series
2021-330N,
Class
A,
ARM
1M
USD
LIBOR
+
0.799%,
3.617%,
6/15/38 (1)
120‌
115‌
BDS
Series
2021-FL10,
Class
A,
ARM
1M
USD
LIBOR
+
1.35%,
4.343%,
12/16/36 (1)
185‌
180‌
BFLD
Series
2019-DPLO,
Class
B,
ARM
1M
USD
LIBOR
+
1.34%,
4.158%,
10/15/34 (1)
510‌
493‌
BIG
Commercial
Mortgage
Trust
Series
2022-BIG,
Class
C,
ARM
1M
TSFR
+
2.34%,
5.186%,
2/15/39 (1)
105‌
99‌
BPR
Trust
Series
2021-TY,
Class
B,
ARM
1M
USD
LIBOR
+
1.15%,
3.968%,
9/15/38 (1)
200‌
189‌
BSPRT
Issuer
Series
2022-FL8,
Class
A,
ARM
SOFR30A
+
1.50%,
3.785%,
2/15/37 (1)
380‌
367‌
BSREP
Commercial
Mortgage
Trust
Series
2021-DC,
Class
D,
ARM
1M
USD
LIBOR
+
1.90%,
4.718%,
8/15/38 (1)
175‌
161‌
BX
Commercial
Mortgage
Trust
Series
2019-XL,
Class
A,
ARM
1M
USD
LIBOR
+
0.92%,
3.738%,
10/15/36 (1)
102‌
100‌
BX
Commercial
Mortgage
Trust
Series
2021-SOAR,
Class
D,
ARM
1M
USD
LIBOR
+
1.40%,
4.218%,
6/15/38 (1)
144‌
135‌
BX
Commercial
Mortgage
Trust
Series
2022-AHP,
Class
A,
ARM
1M
TSFR
+
0.99%,
3.835%,
1/17/39 (1)
190‌
182‌
BX
Commercial
Mortgage
Trust
Series
2022-CSMO,
Class
B,
ARM
1M
TSFR
+
3.141%,
5.986%,
6/15/27 (1)
260‌
256‌
BX
Trust
Series
2021-ARIA,
Class
C,
ARM
1M
USD
LIBOR
+
1.646%,
4.464%,
10/15/36 (1)
145‌
135‌
Par/Shares
$
Value
(Amounts
in
000s)
Citigroup
Commercial
Mortgage
Trust
Series
2013-375P,
Class
A
3.251%,
5/10/35 (1)
500‌
487‌
Citigroup
Commercial
Mortgage
Trust
Series
2013-375P,
Class
B,
ARM
3.635%,
5/10/35 (1)
205‌
197‌
Citigroup
Commercial
Mortgage
Trust
Series
2013-375P,
Class
C,
ARM
3.635%,
5/10/35 (1)
150‌
143‌
Cold
Storage
Trust
Series
2020-ICE5,
Class
B,
ARM
1M
USD
LIBOR
+
1.30%,
4.118%,
11/15/37 (1)
256‌
248‌
Commercial
Mortgage
Trust
Series
2014-CR19,
Class
AM
4.08%,
8/10/47 
210‌
202‌
Commercial
Mortgage
Trust
Series
2014-CR19,
Class
D,
ARM
4.854%,
8/10/47 (1)
250‌
228‌
Commercial
Mortgage
Trust
Series
2014-UBS2,
Class
A5
3.961%,
3/10/47 
280‌
275‌
Commercial
Mortgage
Trust
Series
2014-UBS2,
Class
B
4.701%,
3/10/47 
440‌
428‌
Commercial
Mortgage
Trust
Series
2015-CR22,
Class
B,
ARM
3.926%,
3/10/48 
100‌
94‌
Credit
Suisse
Mortgage
Trust
Series
2020-NET,
Class
A
2.257%,
8/15/37 (1)
113‌
102‌
Extended
Stay
America
Trust
Series
2021-ESH,
Class
C,
ARM
1M
USD
LIBOR
+
1.70%,
4.518%,
7/15/38 (1)
194‌
186‌
Fontainebleau
Miami
Beach
Trust
Series
2019-FBLU,
Class
C
3.75%,
12/10/36 (1)
895‌
833‌
GCT
Commercial
Mortgage
Trust
Series
2021-GCT,
Class
A,
ARM
1M
USD
LIBOR
+
0.80%,
3.618%,
2/15/38 (1)
140‌
135‌
Great
Wolf
Trust
Series
2019-WOLF,
Class
A,
ARM
1M
USD
LIBOR
+
1.034%,
3.852%,
12/15/36 (1)
325‌
314‌
Great
Wolf
Trust
Series
2019-WOLF,
Class
C,
ARM
1M
USD
LIBOR
+
1.633%,
4.451%,
12/15/36 (1)
390‌
372‌
GS
Mortgage
Securities
Trust
Series
2021-ROSS,
Class
B,
ARM
1M
USD
LIBOR
+
1.60%,
4.418%,
5/15/26 (1)
160‌
150‌
JPMorgan
Chase
Commercial
Mortgage
Securities
Trust
Series
2019-BKWD,
Class
C,
ARM
1M
USD
LIBOR
+
1.60%,
4.668%,
9/15/29 (1)
355‌
342‌
T.
ROWE
PRICE
Limited-Term
Bond
Portfolio
12
Par/Shares
$
Value
(Amounts
in
000s)
JPMorgan
Chase
Commercial
Mortgage
Securities
Trust
Series
2020-609M,
Class
B,
ARM
1M
USD
LIBOR
+
1.77%,
4.588%,
10/15/33 (1)
255‌
242‌
JPMorgan
Chase
Commercial
Mortgage
Securities
Trust
Series
2020-609M,
Class
C,
ARM
1M
USD
LIBOR
+
2.17%,
4.988%,
10/15/33 (1)
210‌
197‌
KIND
Trust
Series
2021-KIND,
Class
C,
ARM
1M
USD
LIBOR
+
1.75%,
4.568%,
8/15/38 (1)
243‌
226‌
KKR
Industrial
Portfolio
Trust
Series
2021-KDIP,
Class
C,
ARM
1M
USD
LIBOR
+
1.00%,
3.818%,
12/15/37 (1)
188‌
178‌
KKR
Industrial
Portfolio
Trust
Series
2021-KDIP,
Class
D,
ARM
1M
USD
LIBOR
+
1.25%,
4.068%,
12/15/37 (1)
75‌
71‌
LSTAR
Commercial
Mortgage
Trust
Series
2017-5,
Class
AS
4.021%,
3/10/50 (1)
145‌
133‌
MF1
Series
2021-FL7,
Class
A,
ARM
1M
USD
LIBOR
+
1.08%,
4.073%,
10/16/36 (1)
195‌
187‌
MHC
Trust
Series
2021-MHC2,
Class
B,
ARM
1M
USD
LIBOR
+
1.10%,
3.918%,
5/15/23 (1)
150‌
143‌
Morgan
Stanley
Capital
I
Trust
Series
2014-150E,
Class
A
3.912%,
9/9/32 (1)
340‌
316‌
Morgan
Stanley
Capital
I
Trust
Series
2019-MEAD,
Class
D,
ARM
3.283%,
11/10/36 (1)
710‌
614‌
Morgan
Stanley
Capital
I
Trust
Series
2019-NUGS,
Class
D,
ARM
1M
USD
LIBOR
+
1.80%,
4.618%,
12/15/36 (1)
130‌
123‌
ONE
Mortgage
Trust
Series
2021-PARK,
Class
B,
ARM
1M
USD
LIBOR
+
0.95%,
3.768%,
3/15/36 (1)
315‌
301‌
ONE
Mortgage
Trust
Series
2021-PARK,
Class
C,
ARM
1M
USD
LIBOR
+
1.10%,
3.918%,
3/15/36 (1)
170‌
160‌
Shelter
Growth
CRE
Issuer
Series
2021-FL3,
Class
A,
ARM
1M
USD
LIBOR
+
1.08%,
3.898%,
9/15/36 (1)
96‌
95‌
SLIDE
Series
2018-FUN,
Class
A,
ARM
1M
USD
LIBOR
+
1.15%,
3.968%,
6/15/31 (1)
479‌
472‌
Par/Shares
$
Value
(Amounts
in
000s)
SLIDE
Series
2018-FUN,
Class
D,
ARM
1M
USD
LIBOR
+
2.10%,
4.918%,
6/15/31 (1)
525‌
507‌
Wells
Fargo
Commercial
Mortgage
Trust
Series
2015-NXS2,
Class
A2
3.02%,
7/15/58 
79‌
76‌
WFRBS
Commercial
Mortgage
Trust
Series
2014-LC14,
Class
A5
4.045%,
3/15/47 
440‌
433‌
12,256‌
Residential
Mortgage
0.4%
Finance
of
America
HECM
Buyout
Series
2022-HB2,
Class
A1A,
CMO,
ARM
4.00%,
12/25/24 (1)
436‌
426‌
MetLife
Securitization
Trust
Series
2017-1A,
Class
A,
CMO,
ARM
3.00%,
4/25/55 (1)
138‌
131‌
Towd
Point
Mortgage
Trust
Series
2016-1,
Class
A3B,
CMO,
ARM
3.00%,
2/25/55 (1)
2‌
2‌
Towd
Point
Mortgage
Trust
Series
2017-1,
Class
A1,
CMO,
ARM
2.75%,
10/25/56 (1)
63‌
62‌
Towd
Point
Mortgage
Trust
Series
2017-2,
Class
A1,
CMO,
ARM
2.75%,
4/25/57 (1)
40‌
40‌
Towd
Point
Mortgage
Trust
Series
2018-1,
Class
A1,
CMO,
ARM
3.00%,
1/25/58 (1)
80‌
78‌
739‌
Total
Non-U.S.
Government
Mortgage-
Backed
Securities
(Cost
$32,028)
29,419‌
U.S.
GOVERNMENT
&
AGENCY
MORTGAGE-BACKED
SECURITIES
3.5%
U.S.
Government
Agency
Obligations
2.3%
Federal
Home
Loan
Mortgage 
3.50%,
3/1/46 
97‌
89‌
5.00%,
12/1/23
-
7/1/25 
5‌
5‌
5.50%,
4/1/23
-
10/1/38 
4‌
4‌
6.00%,
9/1/34
-
9/1/35 
69‌
73‌
7.00%,
3/1/39 
62‌
65‌
7.50%,
6/1/38 
62‌
65‌
Federal
Home
Loan
Mortgage,
ARM 
12M
USD
LIBOR
+
1.625%,
2.851%,
4/1/37 
6‌
6‌
12M
USD
LIBOR
+
1.625%,
3.29%,
6/1/38 
15‌
15‌
12M
USD
LIBOR
+
1.625%,
3.875%,
7/1/38 
7‌
7‌
12M
USD
LIBOR
+
1.726%,
3.946%,
7/1/35 
2‌
2‌
12M
USD
LIBOR
+
1.733%,
3.593%,
10/1/36 
5‌
5‌
12M
USD
LIBOR
+
1.738%,
3.057%,
5/1/38 
6‌
6‌
12M
USD
LIBOR
+
1.75%,
2.127%,
2/1/35 
1‌
1‌
12M
USD
LIBOR
+
1.775%,
3.225%,
5/1/37 
3‌
3‌
12M
USD
LIBOR
+
1.829%,
2.203%,
2/1/37 
2‌
2‌
12M
USD
LIBOR
+
1.842%,
2.091%,
1/1/37 
2‌
3‌
12M
USD
LIBOR
+
2.03%,
2.275%,
11/1/36 
2‌
2‌
T.
ROWE
PRICE
Limited-Term
Bond
Portfolio
13
Par/Shares
$
Value
(Amounts
in
000s)
12M
USD
LIBOR
+
2.083%,
2.582%,
2/1/38 
7‌
7‌
1Y
CMT
+
2.245%,
2.37%,
1/1/36 
5‌
6‌
1Y
CMT
+
2.25%,
3.099%,
10/1/36 
1‌
1‌
Federal
Home
Loan
Mortgage,
CMO,
2.00%,
2/15/40 
58‌
55‌
Federal
Home
Loan
Mortgage,
UMBS 
2.50%,
1/1/52 
219‌
185‌
3.00%,
11/1/34 
167‌
156‌
4.00%,
12/1/49 
35‌
33‌
4.50%,
9/1/37
-
5/1/50 
97‌
95‌
Federal
National
Mortgage
Assn.,
ARM 
12M
USD
LIBOR
+
1.34%,
1.59%,
12/1/35 
2‌
2‌
12M
USD
LIBOR
+
1.568%,
3.288%,
7/1/35 
1‌
1‌
12M
USD
LIBOR
+
1.584%,
2.499%,
12/1/35 
5‌
5‌
12M
USD
LIBOR
+
1.599%,
2.921%,
7/1/36 
6‌
5‌
12M
USD
LIBOR
+
1.655%,
3.905%,
8/1/37 
2‌
2‌
12M
USD
LIBOR
+
1.77%,
2.145%,
12/1/35 
1‌
1‌
12M
USD
LIBOR
+
1.78%,
2.03%,
1/1/34 
6‌
6‌
12M
USD
LIBOR
+
1.788%,
2.538%,
5/1/38 
2‌
2‌
12M
USD
LIBOR
+
1.83%,
3.117%,
4/1/38 
18‌
18‌
12M
USD
LIBOR
+
1.853%,
4.103%,
8/1/38 
7‌
7‌
12M
USD
LIBOR
+
1.892%,
2.142%,
12/1/35 
2‌
2‌
12M
USD
LIBOR
+
1.922%,
3.198%,
5/1/38 
6‌
6‌
12M
USD
LIBOR
+
2.04%,
2.29%,
12/1/36 
1‌
1‌
Federal
National
Mortgage
Assn.,
UMBS 
2.00%,
10/1/50 
112‌
91‌
2.50%,
1/1/52 
200‌
169‌
3.00%,
1/1/27
-
6/1/52 
457‌
406‌
3.50%,
3/1/28
-
1/1/52 
137‌
125‌
4.00%,
11/1/49
-
10/1/52 
391‌
364‌
4.50%,
12/1/40
-
8/1/52 
987‌
949‌
5.00%,
3/1/23
-
6/1/35 
186‌
187‌
5.50%,
11/1/22
-
5/1/40 
225‌
232‌
6.00%,
2/1/23
-
4/1/40 
425‌
447‌
6.50%,
7/1/32
-
12/1/32 
53‌
55‌
3,974‌
U.S.
Government
Obligations
1.2%
Government
National
Mortgage
Assn. 
3.00%,
9/20/47 
749‌
671‌
3.50%,
2/20/48 
12‌
11‌
4.00%,
10/20/50 
34‌
32‌
5.00%,
12/20/34
-
11/20/47 
261‌
263‌
5.50%,
3/20/48
-
3/20/49 
42‌
43‌
Government
National
Mortgage
Assn.,
TBA (3)
3.50%,
10/20/52 
367‌
334‌
4.00%,
10/20/52 
100‌
93‌
4.50%,
10/20/52 
350‌
335‌
5.50%,
10/20/52 
370‌
370‌
2,152‌
Total
U.S.
Government
&
Agency
Mortgage-Backed
Securities
(Cost
$6,575)
6,126‌
Par/Shares
$
Value
(Amounts
in
000s)
U.S.
GOVERNMENT
AGENCY
OBLIGATIONS
(EXCLUDING
MORTGAGE-BACKED)
16.8%
Treasuries
16.8%
U.S.
Treasury
Notes,
1.75%,
3/15/25 
5,090‌
4,792‌
U.S.
Treasury
Notes,
2.75%,
5/15/25 (4)
10,380‌
9,987‌
U.S.
Treasury
Notes,
2.875%,
6/15/25 
10,000‌
9,644‌
U.S.
Treasury
Notes,
3.00%,
7/31/24 (5)
1,915‌
1,872‌
U.S.
Treasury
Notes,
3.25%,
8/31/24 (5)
3,665‌
3,599‌
Total
U.S.
Government
Agency
Obligations
(Excluding
Mortgage-Backed)
(Cost
$30,872)
29,894‌
SHORT-TERM
INVESTMENTS
0.3%
Money
Market
Funds
0.3%
T.
Rowe
Price
Government
Reserve
Fund,
3.07% (6)(7)
595‌
595‌
Total
Short-Term
Investments
(Cost
$595)
595‌
SECURITIES
LENDING
COLLATERAL
2.8%
INVESTMENTS
IN
A
POOLED
ACCOUNT
THROUGH
SECURITIES
LENDING
PROGRAM
WITH
STATE
STREET
BANK
AND
TRUST
COMPANY
2.8%
Money
Market
Funds
2.8%
T.
Rowe
Price
Government
Reserve
Fund,
3.07% (6)(7)
5,048‌
5,048‌
Total
Investments
in
a
Pooled
Account
through
Securities
Lending
Program
with
State
Street
Bank
and
Trust
Company
5,048‌
Total
Securities
Lending
Collateral
(Cost
$5,048)
5,048‌
Total
Investments
in
Securities
103.0%
(Cost
$192,842)
$
183,138‌
Other
Assets
Less
Liabilities
(3.0)%
(5,289‌)
Net
Assets
100.0%
$
177,849‌
T.
ROWE
PRICE
Limited-Term
Bond
Portfolio
14
‡
Par/Shares
and
Notional
Amount
are
denominated
in
U.S.
dollars
unless
otherwise
noted.
(1)
Security
was
purchased
pursuant
to
Rule
144A
under
the
Securities
Act
of
1933
and
may
be
resold
in
transactions
exempt
from
registration
only
to
qualified
institutional
buyers.
Total
value
of
such
securities
at
period-end
amounts
to
$76,269
and
represents
42.9%
of
net
assets.
(2)
Security
is
a
fix-to-float
security,
which
carries
a
fixed
coupon
until
a
certain
date,
upon
which
it
switches
to
a
floating
rate.
Reference
rate
and
spread
are
provided
if
the
rate
is
currently
floating.
(3)
To-Be-Announced
purchase
commitment.
Total
value
of
such
securities
at
period-end
amounts
to
$1,132
and
represents
0.6%
of
net
assets.
(4)
At
September
30,
2022,
all
or
a
portion
of
this
security
is
pledged
as
collateral
and/or
margin
deposit
to
cover
future
funding
obligations.
(5)
All
or
a
portion
of
this
security
is
on
loan
at
September
30,
2022.
(6)
Seven-day
yield
(7)
Affiliated
Companies
1M
TSFR
One
month
term
SOFR
(Secured
overnight
financing
rate)
1M
USD
LIBOR
One
month
USD
LIBOR
(London
interbank
offered
rate)
3M
TSFR
Three
month
term
SOFR
(Secured
overnight
financing
rate)
3M
USD
LIBOR
Three
month
USD
LIBOR
(London
interbank
offered
rate)
12M
USD
LIBOR
Twelve
month
USD
LIBOR
(London
interbank
offered
rate)
1Y
CMT
One
year
U.S.
Treasury
note
constant
maturity
ARM
Adjustable
Rate
Mortgage
(ARM);
rate
shown
is
effective
rate
at
period-end.
The
rates
for
certain
ARMs
are
not
based
on
a
published
reference
rate
and
spread
but
may
be
determined
using
a
formula
based
on
the
rates
of
the
underlying
loans. 
CLO
Collateralized
Loan
Obligation
CMO
Collateralized
Mortgage
Obligation
FRN
Floating
Rate
Note
GO
General
Obligation
PTT
Pass-Through
Trust
SOFR
Secured
overnight
financing
rate
SOFRINDX
(Secured
overnight
financing
rate)
Index
SOFR30A
30-day
Average
SOFR
(Secured
overnight
financing
rate)
STEP
Stepped
coupon
bond
for
which
the
coupon
rate
of
interest
adjusts
on
specified
date(s);
rate
shown
is
effective
rate
at
period-end.
TBA
To-Be-Announced
UMBS
Uniform
Mortgage-Backed
Securities
VR
Variable
Rate;
rate
shown
is
effective
rate
at
period-end.
The
rates
for
certain
variable
rate
securities
are
not
based
on
a
published
reference
rate
and
spread
but
are
determined
by
the
issuer
or
agent
and
based
on
current
market
conditions.
T.
ROWE
PRICE
Limited-Term
Bond
Portfolio
15
(Amounts
in
000s)
SWAPS
(0.0)%
Description
Notional
Amount
$
Value
Upfront
Payments/
$
(Receipts)
Unrealized
$
Gain/(Loss)
BILATERAL
SWAPS
(0.0)%
Credit
Default
Swaps,
Protection
Bought
(0.0)%
Bank
of
America,
Protection
Bought
(Relevant
Credit:
General
Mills),
Pay
1.00%
Quarterly,
Receive
upon
credit
default,
12/20/24
*
417
(7)
(6)
(1‌)
Barclays
Bank,
Protection
Bought
(Relevant
Credit:
Omnicom
Group),
Pay
1.00%
Quarterly,
Receive
upon
credit
default,
12/20/24
*
1,250
(18)
(18)
—‌
Citibank,
Protection
Bought
(Relevant
Credit:
General
Mills),
Pay
1.00%
Quarterly,
Receive
upon
credit
default,
12/20/24
*
596
(10)
(9)
(1‌)
Goldman
Sachs,
Protection
Bought
(Relevant
Credit:
General
Mills),
Pay
1.00%
Quarterly,
Receive
upon
credit
default,
12/20/24
*
1,220
(20)
(17)
(3‌)
Total
Bilateral
Credit
Default
Swaps,
Protection
Bought
(50)
(5‌)
Credit
Default
Swaps,
Protection
Sold
0.0%
Barclays
Bank,
Protection
Sold
(Relevant
Credit:
AT&T,
Baa2*),
Receive
1.00%
Quarterly,
Pay
upon
credit
default,
12/20/22
*
500
—
—
—‌
Barclays
Bank,
Protection
Sold
(Relevant
Credit:
Enbridge,
Baa1*),
Receive
1.00%
Quarterly,
Pay
upon
credit
default,
6/20/23
*
1,750
9
(17)
26‌
Total
Bilateral
Credit
Default
Swaps,
Protection
Sold
(17)
26‌
Total
Bilateral
Swaps
(67)
21‌
*
Credit
ratings
as
of
September
30,
2022.
Ratings
shown
are
from
Moody’s
Investors
Service
and
if
Moody’s
does
not
rate
a
security,
then
Standard
&
Poor’s
(S&P)
is
used.
Fitch
is
used
for
securities
that
are
not
rated
by
either
Moody’s
or
S&P.
T.
ROWE
PRICE
Limited-Term
Bond
Portfolio
16
FUTURES
CONTRACTS
($000s)
Expiration
Date
Notional
Amount
Value
and
Unrealized
Gain
(Loss)
Short,
20
U.S.
Treasury
Notes
ten
year
contracts
12/22
(2,241)
$
53‌
Short,
70
U.S.
Treasury
Notes
five
year
contracts
12/22
(7,525)
259‌
Long,
170
U.S.
Treasury
Notes
two
year
contracts
12/22
34,916
(539‌)
Short,
18
Ultra
U.S.
Treasury
Notes
ten
year
contracts
12/22
(2,133)
41‌
Net
payments
(receipts)
of
variation
margin
to
date
197‌
Variation
margin
receivable
(payable)
on
open
futures
contracts
$
11‌
T.
ROWE
PRICE
Limited-Term
Bond
Portfolio
17
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
Government
Reserve
Fund,
3.07%
$
—‌
$
—‌
$
27‌++
Totals
$
—‌#
$
—‌
$
27‌+
Supplementary
Investment
Schedule
Affiliate
Value
12/31/21
Purchase
Cost
Sales
Cost
Value
09/30/22
T.
Rowe
Price
Government
Reserve
Fund,
3.07%
$
4,392‌
 ¤
 ¤
$
5,643‌
Total
$
5,643‌^
#
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
$27
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
$5,643.
T.
ROWE
PRICE
Limited-Term
Bond
Portfolio
Unaudited
18
Notes
to
Portfolio
of
Investments
T.
Rowe
Price
Limited-Term
Bond
Portfolio (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)
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 
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.
Swaps
are
valued
at
prices
furnished
by
an
independent
pricing
service
or
independent
swap
dealers.
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
T.
ROWE
PRICE
Limited-Term
Bond
Portfolio
19
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.
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.
E303-054Q3
09/22 
($000s)
Level
1
Level
2
Level
3
Total
Value
Assets
Fixed
Income
Securities
1
$
—‌
$
177,495‌
$
—‌
$
177,495‌
Short-Term
Investments
595‌
—‌
—‌
595‌
Securities
Lending
Collateral
5,048‌
—‌
—‌
5,048‌
Total
Securities
5,643‌
177,495‌
—‌
183,138‌
Swaps
—‌
9‌
—‌
9‌
Futures
Contracts*
353‌
—‌
—‌
353‌
Total
$
5,996‌
$
177,504‌
$
—‌
$
183,500‌
Liabilities
Swaps
$
—‌
$
55‌
$
—‌
$
55‌
Futures
Contracts*
539‌
—‌
—‌
539‌
Total
$
539‌
$
55‌
$
—‌
$
594‌
1
Includes
Asset-Backed
Securities,
Corporate
Bonds,
Foreign
Government
Obligations
&
Municipalities,
Municipal
Securities,
Non-U.S.
Government
Mortgage-Backed
Securities,
U.S.
Government
&
Agency
Mortgage-Backed
Securities
and
U.S.
Government
Agency
Obligations
(Excluding
Mortgage-Backed).
*
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.