T.
ROWE
PRICE
Global
Allocation
Fund
July
31,
2026
Unaudited
1
Portfolio
of
Investments
‡
Shares/Par
$
Value
(
Cost
and
value
in
$000s)
‡
ARGENTINA 0.2%
Common
Stocks 0.2% 
Banco
BBVA
Argentina,
ADR
(USD) (1)
644‌
12‌
MercadoLibre
(USD) (2)
434‌
815‌
Tenaris,
ADR
(USD) 
1,280‌
73‌
Vista
Energy,
ADR
(USD) (2)
8,977‌
633‌
Total
Argentina
(Cost
$561)
1,533‌
AUSTRALIA 0.6%
Common
Stocks 0.5% 
ALS 
10,746‌
162‌
ANZ
Group
Holdings 
13,179‌
344‌
Ausgold
 (2)
47,718‌
29‌
BHP
Group 
25,157‌
1,060‌
BHP
Group
(GBP) (1)
3,108‌
132‌
BHP
Group,
ADR
(USD) 
2,781‌
235‌
BlueScope
Steel 
2,232‌
51‌
Brambles 
3,991‌
55‌
Canva,
Class
B,
Acquisition
Date:
8/16/21
-
12/17/21,
Cost $179
(USD) (2)(3)(4)
105‌
157‌
Capricorn
Metals 
18,259‌
162‌
Cochlear 
1,507‌
126‌
Coles
Group 
7,026‌
119‌
Downer
EDI 
18,911‌
103‌
Emerald
Resources (2)
44,111‌
165‌
Evolution
Mining 
4,187‌
33‌
Fortescue 
1,352‌
18‌
Frontier
Digital
Ventures (2)
241,379‌
56‌
Genesis
Minerals (1)(2)
6,311‌
25‌
Goodman
Group 
9,179‌
191‌
IGO (2)
3,711‌
18‌
Lynas
Rare
Earths (1)(2)
3,701‌
36‌
Macquarie
Group 
922‌
164‌
Many
Peaks
Minerals (2)
15,430‌
9‌
Mirvac
Group 
61,036‌
77‌
Northern
Star
Resources 
4,657‌
65‌
PLS
Group (1)(2)
6,128‌
18‌
Predictive
Discovery (2)
28,355‌
13‌
Reliance
Worldwide 
17,104‌
42‌
Rio
Tinto (1)
684‌
81‌
T.
ROWE
PRICE
Global
Allocation
Fund
2
Shares/Par
$
Value
(Cost
and
value
in
$000s)
Scentre
Group 
104,102‌
286‌
South32 
20,090‌
64‌
Southern
Palladium (2)
3,511‌
4‌
Suncorp
Group 
17,469‌
235‌
Telstra
Group 
35,795‌
126‌
Turaco
Gold (2)
11,417‌
5‌
WIA
Gold (2)
55,490‌
17‌
Yancoal
Australia
(HKD) 
4,000‌
16‌
4,499‌
Convertible
Preferred
Stocks 0.0% 
Canva,
Series
A,
Acquisition
Date:
11/4/21,
Cost $7
(USD) (2)
(3)(4)
4‌
6‌
6‌
Corporate
Bonds 0.1% 
Transurban
Finance,
2.45%,
3/16/31
(USD) (5)
140,000‌
125‌
Woodside
Finance,
3.70%,
3/15/28
(USD) (5)
67,000‌
66‌
Woodside
Finance,
4.50%,
3/4/29
(USD) (5)
105,000‌
104‌
295‌
Total
Australia
(Cost
$3,433)
4,800‌
AUSTRIA 0.2%
Common
Stocks 0.2% 
BAWAG
Group 
8,224‌
1,668‌
Erste
Group
Bank 
1,226‌
160‌
OMV 
1,596‌
117‌
Total
Austria
(Cost
$404)
1,945‌
BAHRAIN 0.0%
Common
Stocks 0.0% 
Aluminium
Bahrain 
6,986‌
17‌
Total
Bahrain
(Cost
$18)
17‌
BANGLADESH 0.0%
Common
Stocks 0.0% 
BRAC
Bank 
196,399‌
101‌
Marico
Bangladesh 
1,152‌
25‌
T.
ROWE
PRICE
Global
Allocation
Fund
3
Shares/Par
$
Value
(Cost
and
value
in
$000s)
Square
Pharmaceuticals 
20,079‌
36‌
Total
Bangladesh
(Cost
$117)
162‌
BELGIUM 0.1%
Common
Stocks 0.1% 
Aedifica
1,149‌
93‌
KBC
Ancora
817‌
84‌
UCB 
675‌
173‌
Warehouses
De
Pauw
17,287‌
445‌
Total
Belgium
(Cost
$720)
795‌
BRAZIL 0.3%
Common
Stocks 0.3% 
B3 
32,260‌
100‌
Itau
Unibanco
Holding,
ADR
(USD) 
43,801‌
371‌
Klabin
36,545‌
132‌
Localiza
Rent
a
Car 
46,318‌
345‌
Multiplan
Empreendimentos
Imobiliarios
22,435‌
124‌
NU
Holdings,
Class
A
(USD) (2)
29,263‌
419‌
Raia
Drogasil
106,390‌
390‌
TOTVS 
13,408‌
82‌
Vale 
8,199‌
124‌
WEG 
32,902‌
308‌
2,395‌
Preferred
Stocks 0.0% 
Klabin
1‌
—‌
Localiza
Rent
a
Car 
438‌
3‌
3‌
Total
Brazil
(Cost
$1,887)
2,398‌
CANADA 1.6%
Common
Stocks 1.3% 
Agnico
Eagle
Mines 
2,997‌
435‌
Agnico
Eagle
Mines
(USD) 
538‌
78‌
Alamos
Gold,
Class
A 
4,026‌
112‌
Almonty
Industries
(USD) (2)
2,949‌
33‌
Americas
Gold
&
Silver (2)
18,696‌
71‌
Aris
Mining (2)
27,961‌
374‌
T.
ROWE
PRICE
Global
Allocation
Fund
4
Shares/Par
$
Value
(Cost
and
value
in
$000s)
Aritzia
 (2)
548‌
55‌
Artemis
Gold (1)(2)
7,819‌
188‌
AtkinsRealis
Group (1)
1,768‌
110‌
ATS (1)(2)
2,370‌
65‌
Badger
Infrastructure
Solutions 
2,415‌
153‌
Barrick
Mining 
10,320‌
379‌
Baytex
Energy 
12,599‌
57‌
Benz
Mining,
CDI
(AUD) (2)
2,991‌
7‌
Brookfield 
4,871‌
207‌
Cameco
(USD) 
1,523‌
132‌
Canadian
Apartment
Properties
REIT 
1,849‌
46‌
Canadian
National
Railway
(USD) 
1,129‌
144‌
Canadian
Natural
Resources 
11,108‌
529‌
Canadian
Natural
Resources
(USD) 
6,474‌
309‌
Capstone
Copper (2)
11,408‌
108‌
Cenovus
Energy (1)
10,012‌
302‌
Cenovus
Energy
(USD) 
14,587‌
440‌
Colliers
International
Group
(USD) (1)
620‌
61‌
Constellation
Software,
Warrants,
3/31/40 (2)(3)
79‌
—‌
Definity
Financial 
10,388‌
593‌
Descartes
Systems
Group (2)
2,071‌
156‌
Descartes
Systems
Group
(USD) (2)
780‌
59‌
Discovery
Mining (2)
11,070‌
69‌
DPM
Metals 
6,852‌
241‌
Dundee
Corporation,
Warrants,
12/16/26 (2)
2,854‌
—‌
Element
Fleet
Management 
16,078‌
361‌
Enbridge
(USD) 
4,249‌
231‌
Energy
Fuels
(USD) (1)(2)
3,965‌
45‌
Equinox
Gold (1)
37,097‌
332‌
Exchange
Income (1)
2,518‌
225‌
First
Mining
Gold (1)(2)
60,098‌
25‌
First
Quantum
Minerals (2)
6,889‌
191‌
Franco-Nevada 
2,234‌
475‌
G
Mining
Ventures (1)(2)
6,029‌
184‌
Gold
Royalty
(USD) (2)
1,281‌
3‌
Headwater
Exploration 
6,853‌
65‌
Hemlo
Mining (2)
20,680‌
75‌
i-80
Gold (2)
33,977‌
44‌
Ivanhoe
Mines,
Class
A (2)
3,206‌
23‌
Jamieson
Wellness 
3,599‌
106‌
Kelt
Exploration (2)
8,749‌
62‌
Keyera
2,141‌
91‌
Kinaxis (2)
1,049‌
126‌
T.
ROWE
PRICE
Global
Allocation
Fund
5
Shares/Par
$
Value
(Cost
and
value
in
$000s)
Kinross
Gold 
8,895‌
205‌
Lundin
Gold 
159‌
9‌
LunR
Royalties (1)(2)
139‌
2‌
Montage
Gold (1)(2)
2,348‌
27‌
National
Bank
of
Canada 
732‌
118‌
NGEx
Minerals (2)
5,488‌
98‌
North
West (1)
1,827‌
66‌
OceanaGold 
1,575‌
38‌
Omai
Gold
Mines (2)
25,169‌
42‌
OR
Royalties (1)
6,532‌
194‌
Precision
Drilling (2)
609‌
47‌
Shopify,
Class
A
(USD) (2)
6,202‌
727‌
Skeena
Resources (2)
4,944‌
131‌
Snowline
Gold (1)(2)
7,338‌
70‌
South
Bow 
2,193‌
81‌
StorageVault
Canada 
28,087‌
96‌
Suncor
Energy 
3,050‌
205‌
Suncor
Energy
(USD) 
1,621‌
109‌
Tamarack
Valley
Energy 
8,700‌
83‌
Teck
Resources,
Class
B
(USD) 
1,483‌
89‌
TMX
Group 
1,630‌
60‌
Tourmaline
Oil 
2,289‌
101‌
West
Fraser
Timber (1)
1,003‌
65‌
Wheaton
Precious
Metals 
2,857‌
311‌
11,151‌
Corporate
Bonds 0.2% 
Bank
of
Montreal,
Series
J,
VR,
4.439%,
1/14/32
(USD) (6)
90,000‌
88‌
Bank
of
Montreal,
Series
J,
VR,
5.298%,
6/2/37
(USD) (6)
90,000‌
88‌
Canadian
Natural
Resources,
2.95%,
7/15/30
(USD) 
110,000‌
102‌
Canadian
Pacific
Railway,
1.75%,
12/2/26
(USD) 
130,000‌
129‌
Canadian
Pacific
Railway,
2.875%,
11/15/29
(USD) 
135,000‌
127‌
Canadian
Pacific
Railway,
3.50%,
5/1/50
(USD) 
155,000‌
105‌
Canadian
Pacific
Railway,
4.30%,
5/15/43
(USD) 
25,000‌
21‌
Element
Fleet
Management,
4.641%,
11/24/30
(USD) (5)
160,000‌
156‌
Enbridge,
4.60%,
6/20/28
(USD) 
15,000‌
15‌
Enbridge,
5.625%,
4/5/34
(USD) 
65,000‌
66‌
Enbridge,
6.20%,
11/15/30
(USD) 
45,000‌
47‌
National
Bank
of
Canada,
VR,
4.166%,
1/20/29
(USD) (6)
250,000‌
248‌
Nutrien
,
4.85%,
5/29/31
(USD) 
40,000‌
40‌
Rogers
Communications,
5.00%,
2/15/29
(USD) 
165,000‌
165‌
Royal
Bank
of
Canada,
2.30%,
11/3/31
(USD) 
250,000‌
220‌
T.
ROWE
PRICE
Global
Allocation
Fund
6
Shares/Par
$
Value
(Cost
and
value
in
$000s)
South
Bow
USA
Infrastructure
Holdings,
5.026%,
10/1/29
(USD) 
35,000‌
35‌
Toronto-Dominion
Bank,
4.994%,
4/5/29
(USD) 
90,000‌
91‌
1,743‌
Government
Bonds 0.1% 
Province
of
Alberta,
3.30%,
3/15/28
(USD) 
135,000‌
133‌
Province
of
British
Columbia,
4.20%,
7/6/33
(USD) 
320,000‌
309‌
Province
of
New
Brunswick,
3.625%,
2/24/28
(USD) 
250,000‌
247‌
Province
of
Quebec
Canada,
Series
RI,
4.625%,
6/3/36
(USD) 
105,000‌
102‌
791‌
Total
Canada
(Cost
$9,826)
13,685‌
CAYMAN
ISLANDS 0.1%
Common
Stocks 0.0% 
Talon
Capital
Sponsor,
Class
A,
Acquisition
Date:
9/2/25,
Cost $6
(USD) (2)(3)(4)
2,406‌
6‌
6‌
Convertible
Preferred
Stocks 0.1% 
ByteDance,
Series
E,
Acquisition
Date:
7/8/19,
Cost $89
(USD) (2)(3)(4)
1,810‌
633‌
633‌
Total
Cayman
Islands
(Cost
$95)
639‌
CHILE 0.1%
Common
Stocks 0.1% 
Antofagasta
(GBP) 
4,285‌
214‌
214‌
Corporate
Bonds 0.0% 
Corp.
Nacional
del
Cobre
de
Chile,
3.00%,
9/30/29
(USD) (5)
220,000‌
206‌
206‌
Total
Chile
(Cost
$249)
420‌
T.
ROWE
PRICE
Global
Allocation
Fund
7
Shares/Par
$
Value
(Cost
and
value
in
$000s)
CHINA 1.4%
Common
Stocks 1.0% 
58.com
(USD) (2)(3)
5,864‌
—‌
Alibaba
Group
Holding
(HKD) 
70,028‌
1,067‌
Alibaba
Group
Holding,
ADR
(USD) (1)
855‌
105‌
Atour
Lifestyle
Holdings,
ADR
(USD) 
2,067‌
71‌
ATRenew
,
ADR
(USD) 
13,800‌
59‌
Baidu,
Class
A
(HKD) (2)
3,852‌
53‌
Bilibili
,
Class
Z
(HKD) (2)
2,160‌
41‌
Busy
Ming
Group,
Class
H
(HKD) (1)(2)
1,000‌
49‌
CALB
Group,
Class
H
(HKD) (2)
15,300‌
33‌
Chaozhou
Three-Circle
Group,
Class
H
(HKD) (2)
500‌
6‌
Chifeng
Jilong
Gold
Mining
Group,
Class
H
(HKD) 
38,600‌
165‌
China
Construction
Bank,
Class
H
(HKD) 
369,000‌
433‌
China
Hongqiao
Group
(HKD) 
20,000‌
63‌
China
Mengniu
Dairy
(HKD) 
24,000‌
58‌
China
Overseas
Grand
Oceans
Group
(HKD) (1)
218,000‌
68‌
China
Pacific
Insurance
Group,
Class
H
(HKD) 
70,400‌
275‌
China
Resources
Beer
Holdings
(HKD) 
55,000‌
166‌
China
Resources
Mixc
Lifestyle
Services
(HKD) 
60,000‌
305‌
H
World
Group
(HKD) 
23,800‌
101‌
H
World
Group,
ADR
(USD) (1)
5,957‌
254‌
iQIYI
,
ADR
(USD) (1)(2)
36,049‌
46‌
Jiangxi
Copper,
Class
H
(HKD) 
16,000‌
72‌
Kanzhun
,
ADR
(USD) 
19,897‌
324‌
KE
Holdings,
ADR
(USD) 
4,368‌
74‌
KE
Holdings,
Class
A
(HKD) 
38,771‌
217‌
Kingboard
Holdings
(HKD) 
16,000‌
80‌
Kuaishou
Technology
(HKD) 
28,000‌
156‌
Luxshare
Precision
Industry,
Class
H
(HKD) (2)
10,000‌
71‌
Manycore
Tech
(HKD) (2)
21,000‌
22‌
Meituan
,
Class
B
(HKD) (2)
40,800‌
482‌
MINISO
Group
Holding
(HKD) 
14,200‌
46‌
MMG
(HKD) (1)(2)
244,000‌
262‌
Muyuan
Foods
Group,
Class
H
(HKD) 
15,700‌
66‌
NetEase
(HKD) 
8,345‌
222‌
Nexchip
Semiconductor,
Class
H
(HKD) (2)
10,500‌
38‌
PICC
Property
&
Casualty,
Class
H
(HKD) 
114,000‌
238‌
Sany
Heavy
Industry,
Class
H
(HKD) 
16,000‌
43‌
SG
Micro,
Class
H
(HKD) (2)
600‌
6‌
Shenzhen
Woer
Heat-Shrinkable
Material,
Class
H
(HKD) 
19,800‌
28‌
T.
ROWE
PRICE
Global
Allocation
Fund
8
Shares/Par
$
Value
(Cost
and
value
in
$000s)
Shenzhou
International
Group
Holdings
(HKD) 
31,100‌
177‌
Tencent
Holdings
(HKD) 
22,254‌
1,360‌
Tencent
Holdings,
ADR
(USD) 
1,353‌
83‌
Tingyi
Cayman
Islands
Holding
(HKD) 
60,000‌
91‌
Victory
Giant
Technology
Huizhou,
Class
H
(HKD) (1)(2)
200‌
5‌
Wanguo
Gold
Group
(HKD) (1)
38,500‌
52‌
WuXi
AppTec
,
Class
H
(HKD) 
8,700‌
178‌
WuXi
XDC
Cayman
(HKD) (1)(2)
9,000‌
59‌
Zepp
Health,
ADR
(USD) (1)(2)
872‌
4‌
Zhongji
Innolight
,
Class
H
(HKD) (2)
1,500‌
197‌
Zijin
Mining
Group,
Class
H
(HKD) 
50,000‌
212‌
ZTO
Express
Cayman
(HKD) 
10,674‌
255‌
8,538‌
Common
Stocks
-
China
A
Shares 0.4% 
Beijing
Huafeng
Test
&
Control
Technology,
A
Shares
(CNH) 
2,029‌
107‌
Chifeng
Jilong
Gold
Mining
Group,
A
Shares
(CNH) 
1,200‌
7‌
China
Jushi
,
A
Shares
(CNH) 
14,500‌
81‌
Contemporary
Amperex
Technology,
A
Shares
(CNH) 
7,900‌
463‌
Dongguan
Yiheda
Automation,
A
Shares
(CNH) 
10,800‌
39‌
Hengyi
Petrochemical,
A
Shares
(CNH) 
92,200‌
220‌
Hongfa
Technology,
A
Shares
(CNH) 
36,624‌
193‌
Jiangsu
Azure,
A
Shares
(CNH) 
24,100‌
57‌
LB
Group,
A
Shares
(CNH) 
18,400‌
45‌
Loncin
Motor,
A
Shares
(CNH) 
56,400‌
123‌
Sany
Heavy
Industry,
A
Shares
(CNH) 
107,400‌
327‌
Shengyi
Technology,
A
Shares
(CNH) 
14,800‌
231‌
Shenzhen
Inovance
Technology,
A
Shares
(CNH) 
9,100‌
86‌
Shenzhen
Kedali
Industry,
A
Shares
(CNH) 
2,100‌
57‌
Shenzhen
YUTO
Packaging
Technology,
A
Shares
(CNH) 
18,794‌
73‌
TCL
Technology
Group,
A
Shares
(CNH) 
412,500‌
289‌
WUS
Printed
Circuit
Kunshan,
A
Shares
(CNH) 
9,200‌
141‌
Yantai
Jereh
Oilfield
Services
Group,
A
Shares
(CNH) 
5,400‌
108‌
Yunnan
Aluminium
,
A
Shares
(CNH) 
124,100‌
491‌
Zhejiang
Dingli
Machinery,
A
Shares
(CNH) 
10,500‌
92‌
Zhongji
Innolight
,
A
Shares
(CNH) 
2,300‌
306‌
3,536‌
Total
China
(Cost
$9,344)
12,074‌
T.
ROWE
PRICE
Global
Allocation
Fund
9
Shares/Par
$
Value
(Cost
and
value
in
$000s)
CYPRUS 0.0%
Common
Stocks 0.0% 
Bank
of
Cyprus
Holdings 
14,832‌
176‌
Total
Cyprus
(Cost
$153)
176‌
DENMARK 0.2%
Common
Stocks 0.2% 
Coloplast,
Class
B 
3,311‌
219‌
Novo
Nordisk,
ADR
(USD) 
2,500‌
118‌
Novo
Nordisk,
Class
B 
14,551‌
688‌
Novonesis
Novozymes,
Class
B 
1,877‌
122‌
Orsted
 (2)
21,854‌
487‌
Total
Denmark
(Cost
$1,916)
1,634‌
EGYPT 0.0%
Common
Stocks 0.0% 
Commercial
International
Bank
-
Egypt 
5,819‌
16‌
Total
Egypt
(Cost
$12)
16‌
FINLAND 0.2%
Common
Stocks 0.2% 
Fortum 
7,717‌
175‌
Lumo
Kodit
6,814‌
62‌
Mandatum 
13,336‌
91‌
Neste 
4,955‌
176‌
Sampo,
Class
A 
58,664‌
650‌
Stora
Enso,
Class
R 
38,357‌
441‌
UPM-
Kymmene
4,974‌
135‌
Total
Finland
(Cost
$1,400)
1,730‌
FRANCE 1.6%
Common
Stocks 1.5% 
Accor 
2,033‌
106‌
Air
Liquide 
2,709‌
534‌
Airbus 
7,287‌
1,711‌
Alstom (1)(2)
2,299‌
43‌
T.
ROWE
PRICE
Global
Allocation
Fund
10
Shares/Par
$
Value
(Cost
and
value
in
$000s)
ArcelorMittal 
4,964‌
351‌
AXA 
12,841‌
665‌
Beneteau
 (1)
8,533‌
59‌
BNP
Paribas 
2,470‌
314‌
Cie
de
Saint-Gobain 
5,828‌
548‌
Dassault
Aviation 
391‌
135‌
Edenred
9,529‌
314‌
Engie 
15,063‌
469‌
EssilorLuxottica
633‌
120‌
Eurofins
Scientific 
2,632‌
207‌
Exosens
1,456‌
97‌
Forvia
 (2)
3,207‌
33‌
Kering 
804‌
265‌
L'Oreal
1,405‌
626‌
Lectra
2,786‌
66‌
LVMH
Moet
Hennessy
Louis
Vuitton 
136‌
75‌
Nexity
 (1)(2)
9,181‌
75‌
Rexel 
905‌
37‌
Robertet
 (1)
132‌
121‌
Safran 
1,683‌
661‌
Sanofi 
5,038‌
434‌
Sartorius
Stedim
Biotech 
1,956‌
378‌
Schneider
Electric 
2,411‌
810‌
Societe
Generale 
11,380‌
1,070‌
SPIE 
11,041‌
594‌
TotalEnergies 
18,117‌
1,597‌
Vallourec
SACA 
2,395‌
58‌
Vinci 
2,143‌
302‌
Virbac
539‌
210‌
Viridien
 (2)
536‌
58‌
13,143‌
Corporate
Bonds 0.1% 
BNP
Paribas,
VR,
2.871%,
4/19/32
(USD) (5)(6)
350,000‌
316‌
Orange,
4.75%,
1/13/33
(USD) (5)
200,000‌
193‌
TotalEnergies
Capital
USA,
4.569%,
1/13/33
(USD) 
190,000‌
184‌
693‌
Total
France
(Cost
$8,669)
13,836‌
T.
ROWE
PRICE
Global
Allocation
Fund
11
Shares/Par
$
Value
(Cost
and
value
in
$000s)
GEORGIA 0.0%
Common
Stocks 0.0% 
Lion
Finance
Group
(GBP) 
325‌
51‌
Total
Georgia
(Cost
$41)
51‌
GERMANY 1.2%
Common
Stocks 1.2% 
adidas 
1,831‌
339‌
Allianz 
1,220‌
608‌
Bechtle
2,755‌
115‌
Daimler
Truck
Holding 
7,901‌
447‌
Deutsche
Telekom 
16,826‌
519‌
flatexDEGIRO
5,060‌
213‌
Heidelberg
Materials 
1,988‌
370‌
Infineon
Technologies 
8,792‌
631‌
Innio
(USD) (2)
5,419‌
132‌
IONOS
Group (1)(2)
3,252‌
119‌
Jenoptik
1,909‌
83‌
KION
Group 
2,875‌
130‌
LEG
Immobilien
1,108‌
67‌
Mercedes-Benz
Group 
1,148‌
62‌
Merck 
2,206‌
365‌
Pfisterer
Holding 
1,128‌
99‌
QIAGEN 
3,850‌
158‌
Redcare
Pharmacy (2)
2,926‌
208‌
Rheinmetall 
463‌
612‌
SAP 
4,120‌
755‌
Schott
Pharma 
7,069‌
180‌
Siemens 
6,130‌
2,008‌
Siemens
Energy 
4,360‌
745‌
Siemens
Healthineers
8,277‌
352‌
Springer
Nature 
7,299‌
156‌
SUSS
MicroTec
1,860‌
161‌
Vincorion
 (2)
7,227‌
155‌
9,789‌
T.
ROWE
PRICE
Global
Allocation
Fund
12
Shares/Par
$
Value
(Cost
and
value
in
$000s)
Corporate
Bonds 0.0% 
Daimler
Trucks
Finance
North
America,
3.65%,
4/7/27
(USD) (5)
155,000‌
154‌
154‌
Preferred
Stocks 0.0% 
Volkswagen 
1,023‌
89‌
89‌
Total
Germany
(Cost
$7,424)
10,032‌
GREECE 0.1%
Common
Stocks 0.1% 
National
Bank
of
Greece 
20,245‌
379‌
Public
Power 
6,316‌
163‌
Total
Greece
(Cost
$492)
542‌
HONG
KONG 0.2%
Common
Stocks 0.2% 
AIA
Group 
68,600‌
692‌
CK
Hutchison
Holdings 
10,500‌
98‌
Galaxy
Entertainment
Group 
18,000‌
78‌
Hongkong
Land
Holdings
(USD) 
11,200‌
91‌
Kerry
Properties 
17,500‌
44‌
Samsonite
Group 
28,500‌
51‌
Sun
Hung
Kai
Properties 
6,083‌
95‌
Swire
Properties (1)
27,200‌
83‌
Techtronic
Industries 
25,000‌
420‌
Wharf
Real
Estate
Investment 
7,000‌
24‌
Total
Hong
Kong
(Cost
$1,193)
1,676‌
HUNGARY 0.1%
Common
Stocks 0.1% 
OTP
Bank 
5,858‌
868‌
Total
Hungary
(Cost
$248)
868‌
T.
ROWE
PRICE
Global
Allocation
Fund
13
Shares/Par
$
Value
(Cost
and
value
in
$000s)
ICELAND 0.0%
Common
Stocks 0.0% 
Alvotech
(USD) (2)
4,454‌
18‌
Arion
Banki
34,983‌
55‌
Total
Iceland
(Cost
$91)
73‌
INDIA 0.7%
Common
Stocks 0.7% 
Acutaas
Chemicals 
1,962‌
64‌
Aditya
Vision 
11,818‌
79‌
Apollo
Hospitals
Enterprise 
2,957‌
277‌
Astral 
8,987‌
136‌
Axis
Bank 
8,406‌
108‌
Bajaj
Finance 
34,494‌
412‌
Bharti
Airtel 
29,621‌
612‌
Blue
Star 
4,378‌
77‌
Central
Depository
Services
India 
4,865‌
68‌
Craftsman
Automation 
457‌
47‌
Cummins
India 
6,012‌
348‌
Divi's
Laboratories 
2,787‌
235‌
Dixon
Technologies
India 
622‌
92‌
Eternal (2)
33,589‌
106‌
Hindalco
Industries 
3,730‌
38‌
ICICI
Bank 
53,802‌
809‌
ICICI
Bank,
ADR
(USD) 
2,990‌
90‌
Info
Edge
India 
5,769‌
74‌
Jindal
Stainless 
1,395‌
11‌
Jindal
Steel 
1,506‌
17‌
JSW
Steel 
2,131‌
28‌
KEI
Industries 
1,604‌
84‌
Kotak
Mahindra
Bank 
92,047‌
376‌
KPR
Mill 
6,041‌
66‌
Larsen
&
Toubro 
1,876‌
77‌
LG
Electronics
India (2)
1,124‌
18‌
Mahindra
&
Mahindra 
9,142‌
326‌
MakeMyTrip
(USD) (1)(2)
3,471‌
198‌
Metro
Brands 
4,965‌
54‌
Nexus
Select
Trust 
18,091‌
32‌
NTPC 
29,053‌
106‌
Page
Industries 
215‌
91‌
T.
ROWE
PRICE
Global
Allocation
Fund
14
Shares/Par
$
Value
(Cost
and
value
in
$000s)
Polycab
India 
4,056‌
387‌
Power
Grid
Corp.
of
India 
70,034‌
209‌
Prudent
Corporate
Advisory
Services 
2,644‌
91‌
Sapphire
Foods
India (2)
32,502‌
63‌
Tata
Steel 
30,179‌
60‌
Titan 
5,058‌
258‌
Torrent
Pharmaceuticals 
1,856‌
100‌
Total
India
(Cost
$5,180)
6,324‌
INDONESIA 0.1%
Common
Stocks 0.1% 
Bank
Central
Asia 
1,079,800‌
378‌
Telkom
Indonesia
Persero 
382,500‌
56‌
Total
Indonesia
(Cost
$290)
434‌
IRELAND 0.1%
Common
Stocks 0.1% 
James
Hardie
Industries,
CDI
(AUD) (2)
2,647‌
68‌
Kingspan
Group 
4,608‌
428‌
Ryanair
Holdings 
3,135‌
88‌
Ryanair
Holdings,
ADR
(USD) 
5,156‌
302‌
886‌
Corporate
Bonds 0.0% 
AerCap
Ireland
Capital,
2.45%,
10/29/26
(USD) 
150,000‌
150‌
150‌
Total
Ireland
(Cost
$933)
1,036‌
ISRAEL 0.0%
Common
Stocks 0.0% 
Tower
Semiconductor
(USD) (2)
1,268‌
279‌
Total
Israel
(Cost
$324)
279‌
ITALY 0.6%
Common
Stocks 0.5% 
Amplifon
9,784‌
137‌
Banca
Mediolanum 
1,944‌
52‌
T.
ROWE
PRICE
Global
Allocation
Fund
15
Shares/Par
$
Value
(Cost
and
value
in
$000s)
Carel
Industries 
5,443‌
170‌
De'
Longhi
1,525‌
72‌
Enel 
48,897‌
552‌
Ermenegildo
Zegna
(USD) 
12,177‌
179‌
Ferrari 
1,704‌
670‌
FinecoBank
Banca
Fineco
4,895‌
134‌
Generali 
7,547‌
382‌
GVS (1)(2)
9,939‌
50‌
Interpump
Group 
2,886‌
116‌
Leonardo 
3,068‌
196‌
Moncler 
2,333‌
133‌
PRADA
(HKD) (1)
42,300‌
232‌
Prysmian 
3,347‌
462‌
UniCredit 
8,966‌
846‌
4,383‌
Corporate
Bonds 0.1% 
ENEL
Finance
International,
2.125%,
7/12/28
(USD) (5)
200,000‌
190‌
Intesa
Sanpaolo,
VR,
5.00%,
6/29/30
(USD) (5)(6)
200,000‌
199‌
389‌
Total
Italy
(Cost
$2,879)
4,772‌
JAPAN 3.4%
Common
Stocks 3.3% 
Air
Water (1)
11,300‌
177‌
Ajinomoto 
6,200‌
191‌
Anycolor
 (1)
8,300‌
137‌
ARCHION (2)
127,600‌
216‌
Asahi
Group
Holdings (1)
10,700‌
112‌
Asics 
9,700‌
286‌
C
Uyemura
1,800‌
250‌
Chugai
Pharmaceutical 
8,100‌
351‌
Cosmo
Energy
Holdings 
7,000‌
174‌
Cover (1)(2)
10,800‌
99‌
Daicel 
19,900‌
180‌
Daiei
Kankyo
 (1)
5,000‌
117‌
Daiichi
Sankyo 
8,000‌
129‌
Daiwabo
Holdings (1)
4,600‌
103‌
Digital
Arts 
2,800‌
71‌
Disco 
100‌
36‌
East
Japan
Railway 
4,600‌
106‌
T.
ROWE
PRICE
Global
Allocation
Fund
16
Shares/Par
$
Value
(Cost
and
value
in
$000s)
Fujikura 
10,700‌
272‌
Fujitsu 
5,100‌
118‌
Fukuoka
Financial
Group 
1,800‌
82‌
Fuso
Chemical 
7,600‌
174‌
Hanwa 
28,700‌
305‌
Hikari
Tsushin (1)
300‌
73‌
Hitachi 
29,900‌
980‌
Horiba 
2,300‌
361‌
Hoya 
1,500‌
229‌
INFRONEER
Holdings (1)
5,600‌
91‌
Invincible
Investment (1)
86‌
33‌
Isetan
Mitsukoshi
Holdings 
8,600‌
192‌
ITOCHU 
13,200‌
166‌
Japan
Prime
Realty
Investment 
68‌
42‌
Japan
Real
Estate
Investment 
53‌
41‌
JX
Advanced
Metals 
4,300‌
100‌
KDDI 
21,900‌
403‌
Keisei
Electric
Railway (1)
15,500‌
125‌
Keyence 
300‌
150‌
Kioxia
Holdings (2)
700‌
195‌
Kitazato
9,100‌
78‌
Komatsu 
9,300‌
404‌
Konica
Minolta (1)
52,600‌
192‌
Kubota 
3,800‌
64‌
Kurita
Water
Industries 
3,800‌
204‌
Kyoritsu
Maintenance (1)
9,000‌
196‌
Kyushu
Railway 
4,200‌
95‌
Maeda
Kosen
 (1)
8,000‌
99‌
MatsukiyoCocokara
 (1)
3,600‌
57‌
Mitsubishi
Chemical
Group 
20,600‌
152‌
Mitsubishi
Electric 
14,100‌
508‌
Mitsubishi
Estate 
13,000‌
316‌
Mitsubishi
Heavy
Industries 
2,700‌
63‌
Mitsubishi
UFJ
Financial
Group 
70,000‌
1,564‌
Mitsui
Fudosan 
35,600‌
347‌
Miura 
11,800‌
237‌
MS&AD
Insurance
Group
Holdings 
14,700‌
453‌
Muninova
Holdings 
79,400‌
221‌
Murata
Manufacturing 
3,300‌
150‌
Nakanishi 
9,900‌
188‌
Nextage
15,000‌
313‌
Nifco 
2,500‌
81‌
Nintendo 
7,200‌
343‌
T.
ROWE
PRICE
Global
Allocation
Fund
17
Shares/Par
$
Value
(Cost
and
value
in
$000s)
Nippon
Prologis
REIT (1)
64‌
36‌
Nippon
Sanso
Holdings (1)
5,200‌
187‌
Nippon
Seiki (1)
7,000‌
106‌
Nippon
Soda (1)
8,000‌
191‌
Nippon
Steel (1)
64,100‌
261‌
Nisshinbo
Holdings 
8,100‌
109‌
Niterra
 (1)
5,100‌
298‌
Obara
Group (1)
5,000‌
179‌
Oji
Holdings (1)
39,000‌
214‌
Olympus 
11,100‌
127‌
Open
House
Group (1)
3,500‌
186‌
ORIX 
16,500‌
666‌
Panasonic
Holdings 
7,500‌
198‌
Park24 (1)
8,100‌
100‌
Penta-Ocean
Construction 
15,000‌
140‌
Persol
Holdings (1)
30,400‌
50‌
Rakuten
Bank (2)
3,800‌
130‌
Recruit
Holdings 
13,400‌
1,060‌
Relo
Group 
13,200‌
167‌
Renesas
Electronics 
28,500‌
571‌
Rengo (1)
23,300‌
218‌
Resona
Holdings 
46,100‌
625‌
Resorttrust
10,200‌
114‌
Round
One 
27,700‌
210‌
Sakata
INX (1)
10,500‌
164‌
Sanrio (1)
35,000‌
281‌
Sega
Sammy
Holdings (1)
14,300‌
247‌
Seven
&
i
Holdings 
37,500‌
497‌
Shimizu 
6,400‌
94‌
Shin-Etsu
Chemical 
2,500‌
89‌
SoftBank
Group 
10,100‌
315‌
Sony
Group 
48,200‌
1,126‌
Strike
Group (1)
7,200‌
60‌
Sumitomo 
79,200‌
822‌
Sumitomo
Mitsui
Trust
Group 
28,400‌
292‌
Sumitomo
Pharma (1)(2)
12,500‌
97‌
Sumitomo
Seika
Chemicals (1)
6,500‌
50‌
Suzuki
Motor 
13,900‌
181‌
Taiheiyo
Cement (1)
15,400‌
390‌
Takashimaya (1)
12,200‌
174‌
Takeda
Pharmaceutical 
12,100‌
415‌
Takeuchi
Manufacturing (1)
2,300‌
106‌
Tohoku
Electric
Power (1)
32,800‌
241‌
T.
ROWE
PRICE
Global
Allocation
Fund
18
Shares/Par
$
Value
(Cost
and
value
in
$000s)
Tokio
Marine
Holdings 
5,500‌
280‌
Tokyo
Electron 
1,000‌
334‌
Tokyo
Kiraboshi
Financial
Group (1)
24,900‌
262‌
Tokyo
Seimitsu (1)
3,900‌
406‌
Tokyo
Tatemono (1)
14,500‌
306‌
Toyo
Tire 
10,300‌
273‌
Toyota
Motor 
50,800‌
961‌
Tsuruha
Holdings (1)
27,500‌
420‌
Unicharm
 (1)
17,600‌
112‌
Yokogawa
Electric 
4,400‌
157‌
28,487‌
Corporate
Bonds 0.1% 
NTT
Finance,
4.876%,
7/16/30
(USD) (5)
200,000‌
198‌
198‌
Total
Japan
(Cost
$19,080)
28,685‌
KAZAKHSTAN 0.1%
Common
Stocks 0.1% 
Halyk
Savings
Bank
of
Kazakhstan,
GDR
(USD) 
5,857‌
187‌
Kaspi.KZ,
ADR
(USD) 
1,343‌
119‌
NAC
Kazatomprom
,
GDR
(USD) 
2,374‌
152‌
Total
Kazakhstan
(Cost
$179)
458‌
KENYA 0.0%
Common
Stocks 0.0% 
Equity
Group
Holdings 
182,400‌
122‌
Safaricom 
341,600‌
97‌
Total
Kenya
(Cost
$152)
219‌
LITHUANIA 0.0%
Common
Stocks 0.0% 
Ignitis
Grupe
5,406‌
139‌
Total
Lithuania
(Cost
$134)
139‌
T.
ROWE
PRICE
Global
Allocation
Fund
19
Shares/Par
$
Value
(Cost
and
value
in
$000s)
MAURITIUS 0.0%
Common
Stocks 0.0% 
Alphamin
Resources
(CAD) 
68,321‌
72‌
Total
Mauritius
(Cost
$44)
72‌
MEXICO 0.2%
Common
Stocks 0.2% 
Arca
Continental 
19,828‌
227‌
BBB
Foods,
Class
A
(USD) (2)
1,218‌
50‌
Grupo
Aeroportuario
del
Pacifico
,
ADR
(USD) 
807‌
175‌
Grupo
Aeroportuario
del
Sureste
,
ADR
(USD) (1)
249‌
69‌
Grupo
Mexico,
Series
B 
68,169‌
820‌
1,341‌
Corporate
Bonds 0.0% 
BBVA
Mexico
Institucion
De
Banca
Multiple
Grupo
Financiero
,
5.25%,
9/10/29
(USD) 
215,000‌
215‌
Southern
Copper,
5.35%,
6/24/36
(USD) 
205,000‌
200‌
415‌
Government
Bonds 0.0% 
United
Mexican
States,
3.50%,
2/12/34
(USD) 
305,000‌
256‌
256‌
Total
Mexico
(Cost
$1,486)
2,012‌
MOROCCO 0.1%
Common
Stocks 0.1% 
Akdital
Holding 
334‌
41‌
Attijariwafa
Bank 
1,610‌
119‌
Hightech
Payment
Systems 
1,799‌
115‌
Label
Vie 
134‌
52‌
Societe
d'Exploitation
des
Ports 
1,354‌
125‌
T2S
Group
Holding (2)
200‌
5‌
Total
Morocco
(Cost
$371)
457‌
T.
ROWE
PRICE
Global
Allocation
Fund
20
Shares/Par
$
Value
(Cost
and
value
in
$000s)
NETHERLANDS 1.3%
Common
Stocks 1.2% 
ABN
AMRO
Bank,
CVA 
7,995‌
362‌
Adyen (2)
315‌
320‌
AerCap
Holdings
(USD) 
1,879‌
284‌
Akzo
Nobel (1)
1,212‌
85‌
Argenx
,
ADR
(USD) (2)
614‌
524‌
ASM
International 
244‌
226‌
ASML
Holding 
2,140‌
3,527‌
ASML
Holding
(USD) 
711‌
1,158‌
ASR
Nederland 
1,209‌
99‌
BE
Semiconductor
Industries 
542‌
124‌
CVC
Capital
Partners (1)
29,240‌
491‌
Heineken 
1,577‌
143‌
IMCD 
1,731‌
190‌
ING
Groep
16,666‌
586‌
Koninklijke
Philips 
15,601‌
411‌
Magnum
Ice
Cream (1)(2)
28,908‌
540‌
Prosus
10,658‌
495‌
Signify 
1,726‌
29‌
Universal
Music
Group 
12,195‌
201‌
Wolters
Kluwer 
3,409‌
268‌
10,063‌
Corporate
Bonds 0.1% 
JDE
Peet's,
1.375%,
1/15/27
(USD) (5)
290,000‌
285‌
NXP,
2.65%,
2/15/32
(USD) 
375,000‌
328‌
613‌
Total
Netherlands
(Cost
$6,053)
10,676‌
NEW
ZEALAND 0.0%
Common
Stocks 0.0% 
Fisher
&
Paykel
Healthcare 
4,266‌
102‌
102‌
T.
ROWE
PRICE
Global
Allocation
Fund
21
Shares/Par
$
Value
(Cost
and
value
in
$000s)
Corporate
Bonds 0.0% 
Westpac
New
Zealand,
5.195%,
2/28/29
(USD) (5)
200,000‌
202‌
202‌
Total
New
Zealand
(Cost
$211)
304‌
NIGERIA 0.0%
Common
Stocks 0.0% 
Dangote
Cement 
39,158‌
30‌
Guaranty
Trust
Holding 
813,467‌
77‌
Nestle
Nigeria (2)
9,847‌
20‌
Total
Nigeria
(Cost
$56)
127‌
NORWAY 0.2%
Common
Stocks 0.2% 
Aker
BP 
13,261‌
473‌
DNB
Bank 
15,152‌
488‌
Equinor 
6,178‌
253‌
Kongsberg
Gruppen 
8,784‌
274‌
Norsk
Hydro 
5,709‌
53‌
Subsea
7 
6,244‌
211‌
TGS 
18,924‌
256‌
Total
Norway
(Cost
$1,445)
2,008‌
OMAN 0.0%
Common
Stocks 0.0% 
Bank
Muscat 
22,226‌
23‌
National
Bank
of
Oman 
45,782‌
54‌
Oman
India
Fertiliser
 (2)
97,016‌
48‌
Total
Oman
(Cost
$108)
125‌
PAKISTAN 0.0%
Common
Stocks 0.0% 
Bank
Alfalah 
141,195‌
29‌
DG
Khan
Cement 
31,469‌
23‌
Fauji
Fertilizer 
18,026‌
37‌
Lucky
Cement 
23,768‌
38‌
T.
ROWE
PRICE
Global
Allocation
Fund
22
Shares/Par
$
Value
(Cost
and
value
in
$000s)
National
Bank
of
Pakistan 
91,500‌
66‌
Total
Pakistan
(Cost
$184)
193‌
PERU 0.1%
Common
Stocks 0.1% 
Credicorp
(USD) 
6‌
3‌
InRetail
Peru
(USD) 
3,102‌
115‌
Southern
Copper
(USD) 
3,097‌
566‌
684‌
Government
Bonds 0.0% 
Republic
of
Peru,
5.375%,
2/8/35
(USD) 
40,000‌
39‌
39‌
Total
Peru
(Cost
$391)
723‌
PHILIPPINES 0.0%
Common
Stocks 0.0% 
BDO
Unibank 
106,434‌
216‌
SM
Investments 
2,130‌
20‌
Total
Philippines
(Cost
$220)
236‌
POLAND 0.1%
Common
Stocks 0.1% 
Allegro.eu (2)
21,364‌
258‌
Bank
Polska
Kasa
Opieki
6,934‌
457‌
Pepco
Group 
12,032‌
148‌
Total
Poland
(Cost
$626)
863‌
PORTUGAL 0.1%
Common
Stocks 0.1% 
Banco
Comercial
Portugues
,
Class
R 
240,624‌
297‌
Galp
Energia
10,574‌
240‌
Jeronimo
Martins 
21,044‌
422‌
Total
Portugal
(Cost
$597)
959‌
T.
ROWE
PRICE
Global
Allocation
Fund
23
Shares/Par
$
Value
(Cost
and
value
in
$000s)
QATAR 0.0%
Common
Stocks 0.0% 
Qatar
National
Bank 
56,772‌
259‌
Total
Qatar
(Cost
$261)
259‌
ROMANIA 0.1%
Common
Stocks 0.1% 
Banca
Transilvania
34,892‌
283‌
MED
Life (2)
31,361‌
84‌
OMV
Petrom
717,826‌
198‌
565‌
Government
Bonds 0.0% 
Republic
of
Romania,
6.625%,
5/16/36
(USD) (5)
200,000‌
202‌
202‌
Total
Romania
(Cost
$436)
767‌
RUSSIA 0.0%
Common
Stocks 0.0% 
Alrosa
 (2)(3)
80,680‌
—‌
Polyus (2)(3)
2,940‌
—‌
Total
Russia
(Cost
$180)
—‌
SAUDI
ARABIA 0.1%
Common
Stocks 0.1% 
Al
Rajhi
Bank 
22,949‌
383‌
Saudi
Arabian
Mining (2)
4,529‌
69‌
Saudi
National
Bank 
50,281‌
526‌
Total
Saudi
Arabia
(Cost
$881)
978‌
SINGAPORE 0.3%
Common
Stocks 0.3% 
CapitaLand
Integrated
Commercial
Trust 
31,208‌
61‌
City
Developments 
11,100‌
68‌
DBS
Group
Holdings 
6,280‌
362‌
T.
ROWE
PRICE
Global
Allocation
Fund
24
Shares/Par
$
Value
(Cost
and
value
in
$000s)
Digital
Core
REIT
Management
(USD) 
15,400‌
7‌
Keppel
DC
REIT 
23,500‌
41‌
NTT
DC
REIT
(USD) 
64,400‌
59‌
Sea,
ADR
(USD) (2)
18,865‌
2,014‌
United
Overseas
Bank 
5,300‌
179‌
Total
Singapore
(Cost
$2,367)
2,791‌
SLOVENIA 0.1%
Common
Stocks 0.1% 
Nova
Ljubljanska
Banka 
356‌
94‌
Nova
Ljubljanska
Banka,
GDR (1)
12,385‌
644‌
Total
Slovenia
(Cost
$280)
738‌
SOUTH
AFRICA 0.2%
Common
Stocks 0.2% 
Anglogold
Ashanti 
3,833‌
290‌
Capitec
Bank
Holdings 
1,249‌
357‌
Clicks
Group 
11,609‌
155‌
Gold
Fields 
1,215‌
39‌
Impala
Platinum
Holdings 
2,433‌
26‌
Mr
Price
Group 
20,558‌
212‌
Sibanye
Stillwater 
6,386‌
14‌
Valterra
Platinum 
891‌
67‌
1,160‌
Corporate
Bonds 0.0% 
Anglo
American
Capital,
2.625%,
9/10/30
(USD) (5)
200,000‌
182‌
182‌
Total
South
Africa
(Cost
$925)
1,342‌
SOUTH
KOREA 1.2%
Common
Stocks 1.2% 
Cosmax
695‌
89‌
DB
Insurance 
1,965‌
213‌
Hanwha
Aerospace 
122‌
78‌
HD
Hyundai
Marine
Solution 
460‌
58‌
Hyundai
Marine
&
Fire
Insurance (2)
4,721‌
126‌
Hyundai
Mobis
949‌
307‌
JYP
Entertainment 
2,459‌
74‌
T.
ROWE
PRICE
Global
Allocation
Fund
25
Shares/Par
$
Value
(Cost
and
value
in
$000s)
KB
Financial
Group 
3,977‌
465‌
Kia 
1,155‌
104‌
KT 
3,128‌
113‌
KT,
ADR
(USD) 
5,078‌
92‌
LG
Chem 
1,099‌
195‌
POSCO
Holdings 
225‌
49‌
Samsung
Electronics 
27,677‌
4,817‌
SK
hynix
2,069‌
2,350‌
SK
hynix
,
ADR
(USD) (2)
6,865‌
987‌
SM
Entertainment 
4,109‌
196‌
SNT
Dynamics 
3,168‌
69‌
10,382‌
Preferred
Stocks 0.0% 
Samsung
Electronics 
821‌
103‌
103‌
Total
South
Korea
(Cost
$4,186)
10,485‌
SPAIN 0.3%
Common
Stocks 0.3% 
Amadeus
IT
Group 
4,183‌
258‌
Banco
Bilbao
Vizcaya
Argentaria 
24,252‌
680‌
Banco
Santander 
51,356‌
730‌
CaixaBank
13,609‌
198‌
Fluidra
2,217‌
49‌
Indra
Sistemas
 (1)
2,976‌
196‌
Laboratorios
Farmaceuticos
Rovi
2,222‌
150‌
Neinor
Homes (1)
4,075‌
75‌
2,336‌
Corporate
Bonds 0.0% 
Banco
Santander,
3.49%,
5/28/30
(USD) 
200,000‌
189‌
189‌
Total
Spain
(Cost
$1,723)
2,525‌
SRI
LANKA 0.0%
Common
Stocks 0.0% 
Digital
Mobility
Solutions
Lanka 
80,926‌
39‌
Total
Sri
Lanka
(Cost
$41)
39‌
T.
ROWE
PRICE
Global
Allocation
Fund
26
Shares/Par
$
Value
(Cost
and
value
in
$000s)
SWEDEN 0.3%
Common
Stocks 0.3% 
Asker
Healthcare
Group (1)
12,338‌
105‌
Asmodee
Group,
Class
B (2)
10,606‌
165‌
Assa
Abloy,
Class
B 
2,313‌
86‌
Autoliv,
SDR (1)
1,079‌
132‌
Beijer
Ref 
5,428‌
77‌
Boliden 
215‌
11‌
Camurus
 (1)(2)
1,907‌
124‌
Essity,
Class
B 
7,823‌
227‌
HMS
Networks 
1,426‌
74‌
Mildef
Group 
4,894‌
112‌
Millicom
International
Cellular
(USD) 
510‌
49‌
MIPS 
4,854‌
215‌
Munters
Group 
4,720‌
84‌
NOBA
Bank
Group (1)
8,801‌
77‌
Nordnet
2,020‌
77‌
Rusta
2,820‌
26‌
Sandvik 
15,225‌
569‌
Spotify
Technology
(USD) (2)
241‌
120‌
Telefonaktiebolaget
LM
Ericsson,
Class
B 
23,684‌
233‌
Trelleborg,
Class
B 
1,896‌
84‌
Troax
Group 
2,887‌
43‌
Total
Sweden
(Cost
$1,844)
2,690‌
SWITZERLAND 0.6%
Common
Stocks 0.6% 
ABB 
3,031‌
299‌
Bossard
Holding (1)
475‌
133‌
Centiel
 (1)(2)
7,120‌
54‌
Cie
Financiere
Richemont,
Class
A 
508‌
120‌
DKSH
Holding 
1,984‌
165‌
Galderma
Group 
649‌
141‌
Holcim 
2,635‌
239‌
Huber
+
Suhner
385‌
91‌
Montana
Aerospace (2)
8,072‌
242‌
Nestle 
7,045‌
704‌
Novartis 
3,514‌
550‌
Roche
Holding 
2,553‌
1,116‌
SKAN
Group (1)
453‌
33‌
T.
ROWE
PRICE
Global
Allocation
Fund
27
Shares/Par
$
Value
(Cost
and
value
in
$000s)
Sonova
Holding 
1,371‌
373‌
Straumann
Holding 
1,953‌
242‌
Tecan
Group 
587‌
136‌
UBS
Group 
9,206‌
487‌
Total
Switzerland
(Cost
$3,421)
5,125‌
TAIWAN 1.8%
Common
Stocks 1.8% 
Accton
Technology 
5,000‌
324‌
Airtac
International
Group 
2,000‌
81‌
Ardentec
11,000‌
59‌
ASE
Technology
Holding 
32,000‌
546‌
Bizlink
Holding 
8,000‌
509‌
Compeq
Manufacturing 
8,000‌
41‌
Co-Tech
Development 
9,000‌
80‌
CTBC
Financial
Holding 
230,000‌
459‌
Delta
Electronics 
13,000‌
639‌
E
Ink
Holdings 
24,000‌
139‌
Elite
Material 
1,000‌
143‌
Gigabyte
Technology 
9,000‌
93‌
Hon
Hai
Precision
Industry 
59,000‌
451‌
King
Yuan
Electronics 
22,000‌
149‌
L&K
Engineering 
3,000‌
64‌
Lotes
1,000‌
56‌
Marketech
International 
7,000‌
100‌
MediaTek 
5,000‌
533‌
MPI 
1,000‌
159‌
Nan
Ya
Printed
Circuit
Board 
5,000‌
138‌
Taiwan
Semiconductor
Manufacturing 
108,000‌
7,988‌
Taiwan
Semiconductor
Manufacturing,
ADR
(USD) 
4,173‌
1,687‌
Tripod
Technology 
7,000‌
79‌
Unimicron
Technology 
25,000‌
587‌
United
Integrated
Services 
4,000‌
134‌
Total
Taiwan
(Cost
$5,211)
15,238‌
THAILAND 0.0%
Common
Stocks 0.0% 
CP
ALL 
186,000‌
267‌
True,
NVDR 
140,700‌
61‌
Total
Thailand
(Cost
$324)
328‌
T.
ROWE
PRICE
Global
Allocation
Fund
28
Shares/Par
$
Value
(Cost
and
value
in
$000s)
TÜRKIYE 0.0%
Common
Stocks 0.0% 
BIM
Birlesik
Magazalar
31,975‌
263‌
TAV
Havalimanlari
Holding 
3,025‌
17‌
Total
Türkiye
(Cost
$217)
280‌
UKRAINE 0.0%
Common
Stocks 0.0% 
VEON,
ADR
(USD) (2)
590‌
31‌
Total
Ukraine
(Cost
$33)
31‌
UNITED
KINGDOM 2.7%
Common
Stocks 2.4% 
3i
Group 
7,228‌
278‌
Admiral
Group 
4,229‌
214‌
Anglo
American 
4,095‌
207‌
ARM
Holdings,
ADR
(USD) (1)(2)
214‌
51‌
AstraZeneca 
6,246‌
1,063‌
AstraZeneca
(USD) 
7,950‌
1,349‌
Auction
Technology
Group (1)(2)
27,373‌
167‌
Aviva 
14,530‌
136‌
Babcock
International
Group 
4,915‌
75‌
Baltic
Classifieds
Group 
5,539‌
15‌
Barclays 
185,665‌
1,276‌
Big
Yellow
Group 
11,863‌
142‌
BP 
42,012‌
316‌
Bridgepoint
Group 
73,255‌
317‌
British
American
Tobacco 
7,267‌
441‌
BT
Group 
133,161‌
361‌
Bunzl 
8,195‌
309‌
Ceres
Power
Holdings (2)
10,341‌
49‌
Clarkson 
1,486‌
95‌
Compass
Group
(USD) 
9,672‌
307‌
Croda
International 
4,897‌
212‌
Diageo 
8,182‌
180‌
Diploma 
1,113‌
110‌
DPC
Holdings
(USD) (1)(2)
834‌
38‌
Experian 
4,314‌
163‌
T.
ROWE
PRICE
Global
Allocation
Fund
29
Shares/Par
$
Value
(Cost
and
value
in
$000s)
Genus 
4,651‌
138‌
Glencore 
121,131‌
892‌
GSK,
ADR
(USD) (1)
3,752‌
194‌
Helios
Towers (2)
90,820‌
240‌
HSBC
Holdings 
18,366‌
391‌
ICG 
5,479‌
140‌
Imperial
Brands 
6,677‌
253‌
Informa 
10,267‌
123‌
InterContinental
Hotels
Group
(USD) 
310‌
50‌
Investec 
8,449‌
74‌
Kefi
Gold
&
Copper (2)
3,098,584‌
44‌
Lloyds
Banking
Group 
323,238‌
500‌
Marks
&
Spencer
Group 
69,299‌
379‌
Meridian
Mining
(CAD) (2)
20,000‌
21‌
National
Grid 
42,021‌
673‌
Next 
828‌
166‌
Oxford
Nanopore
Technologies (1)(2)
30,136‌
46‌
Persimmon 
2,422‌
36‌
Prudential 
13,246‌
199‌
QinetiQ
Group 
17,077‌
117‌
Renishaw 
1,973‌
131‌
Rentokil
Initial 
27,029‌
124‌
Rio
Tinto 
2,216‌
215‌
Rolls-Royce
Holdings 
53,566‌
1,069‌
Rosebank
Industries (2)
29,447‌
134‌
Rotork 
43,345‌
286‌
Segro 
33,372‌
436‌
Seraphim
Space
Investment
Trust (2)
48,473‌
44‌
Shell
(EUR) 
13,457‌
617‌
Shell 
8,402‌
385‌
Shell,
ADR
(USD) 
6,664‌
613‌
Smiths
Group 
3,085‌
110‌
Spirax
Group 
2,533‌
237‌
SSE 
4,632‌
146‌
Standard
Chartered 
37,633‌
1,113‌
Syncona
 (2)
12,913‌
19‌
Taylor
Wimpey 
47,752‌
50‌
Tritax
Big
Box
REIT 
42,133‌
97‌
Unilever
(EUR) 
2,859‌
183‌
Unilever 
26,566‌
1,690‌
Volution
Group 
8,478‌
72‌
Watches
of
Switzerland
Group (2)
15,089‌
149‌
Weir
Group 
3,670‌
131‌
T.
ROWE
PRICE
Global
Allocation
Fund
30
Shares/Par
$
Value
(Cost
and
value
in
$000s)
Wise
Group,
Class
A (2)
16,368‌
195‌
WPP 
15,663‌
63‌
Yellow
Cake (2)
5,814‌
43‌
YouGov (1)
17,332‌
60‌
20,959‌
Convertible
Preferred
Stocks 0.0% 
Yulife
Holdings,
Series
C,
Acquisition
Date:
10/11/22,
Cost $9 (2)(3)(4)
475‌
4‌
4‌
Corporate
Bonds 0.3% 
Barclays,
VR,
2.279%,
11/24/27
(USD) (6)
335,000‌
333‌
BAT
Capital,
4.39%,
8/15/37
(USD) 
125,000‌
112‌
BAT
Capital,
7.079%,
8/2/43
(USD) 
150,000‌
162‌
Coca-Cola
Europacific
Partners,
1.50%,
1/15/27
(USD) (5)
210,000‌
207‌
HSBC
Holdings,
VR,
2.206%,
8/17/29
(USD) (6)
200,000‌
190‌
HSBC
Holdings,
VR,
7.399%,
11/13/34
(USD) (6)
200,000‌
218‌
Imperial
Brands
Finance,
4.875%,
2/7/32
(USD) (5)
200,000‌
196‌
Nationwide
Building
Society,
1.50%,
10/13/26
(USD) (5)
405,000‌
403‌
RELX
Capital,
3.00%,
5/22/30
(USD) 
100,000‌
93‌
Santander
U.K.
Group
Holdings,
VR,
2.469%,
1/11/28
(USD) (6)
200,000‌
198‌
Standard
Chartered,
VR,
4.299%,
1/13/30
(USD) (5)(6)
200,000‌
196‌
2,308‌
Total
United
Kingdom
(Cost
$15,806)
23,271‌
UNITED
STATES 74.0%
Asset-Backed
Securities 0.7% 
ACHM
Trust,
Series
2026-HE1,
Class
A,
ARM,
5.82%,
8/25/56 (5)
100,000‌
100‌
Affirm
Master
Trust,
Series
2026-2A,
Class
A,
4.67%,
4/16/35 (5)
100,000‌
99‌
Ally
Bank,
Series
2026-A,
Class
B,
4.709%,
3/15/34 (5)
223,198‌
222‌
ARI
Fleet
Lease
Trust,
Series
2026-A,
Class
A2,
3.96%,
11/15/34 (5)
100,000‌
99‌
Avis
Budget
Rental
Car
Funding
AESOP,
Series
2025-3A,
Class
A,
4.17%,
2/20/30 (5)
100,000‌
98‌
Battalion
XXV,
Series
2024-25A,
Class
BR,
CLO,
FRN,
3M
TSFR
+
1.75%,
5.479%,
3/13/37 (5)
260,000‌
261‌
Bridgecrest
Lending
Auto
Securitization
Trust,
Series
2026-1,
Class
A3,
4.04%,
12/17/29 
35,000‌
35‌
T.
ROWE
PRICE
Global
Allocation
Fund
31
Shares/Par
$
Value
(Cost
and
value
in
$000s)
Carvana
Auto
Receivables
Trust,
Series
2021-P4,
Class
C,
2.33%,
2/10/28 
155,000‌
152‌
Carvana
Auto
Receivables
Trust,
Series
2025-P4,
Class
A4,
4.25%,
11/10/31 
40,000‌
39‌
Carvana
Auto
Receivables
Trust,
Series
2026-P1,
Class
A4,
4.35%,
7/12/32 
160,000‌
158‌
Carvana
Auto
Receivables
Trust,
Series
2026-P1,
Class
B,
4.76%,
7/12/32 
40,000‌
40‌
Carvana
Auto
Receivables
Trust,
Series
2026-P2,
Class
A3,
4.77%,
4/10/31 
40,000‌
40‌
Carvana
Auto
Receivables
Trust,
Series
2026-P2,
Class
A4,
4.91%,
8/10/32 
100,000‌
100‌
Carvana
Auto
Receivables
Trust,
Series
2026-P2,
Class
B,
5.19%,
8/10/32 
15,000‌
15‌
Cerberus
Loan
Funding
XLIV,
Series
2023-5A,
Class
A1R,
CLO,
FRN,
3M
TSFR
+
1.52%,
5.273%,
1/15/36 (5)
250,000‌
250‌
CyrusOne
Data
Centers
Issuer
I,
Series
2024-2A,
Class
A2,
4.50%,
5/20/49 (5)
140,000‌
135‌
Dell
Equipment
Finance
Trust,
Series
2026-1A,
Class
A3,
4.32%,
12/22/31 (5)
100,000‌
100‌
Driven
Brands
Funding,
Series
2020-2A,
Class
A2,
3.237%,
1/20/51 (5)
119,830‌
116‌
Driven
Brands
Funding,
Series
2021-1A,
Class
A2,
2.791%,
10/20/51 (5)
120,782‌
113‌
Elara
HGV
Timeshare
Issuer,
Series
2023-A,
Class
A,
6.16%,
2/25/38 (5)
40,494‌
41‌
Elara
HGV
Timeshare
Issuer,
Series
2023-A,
Class
B,
6.53%,
2/25/38 (5)
40,494‌
41‌
Exeter
Automobile
Receivables
Trust,
Series
2026-3A,
Class
A3,
4.47%,
7/15/30 
55,000‌
55‌
FIGRE
Trust,
Series
2026-HF7,
Class
A,
FRN,
SOFR30A
+
1.30%,
4.916%,
7/25/56 (5)
150,000‌
150‌
Ford
Credit
Floorplan
Master
Owner
Trust
A,
Series
2026-2,
Class
A,
4.60%,
5/15/33 
110,000‌
109‌
Ford
Credit
Floorplan
Master
Owner
Trust
A,
Series
2026-2,
Class
B,
4.85%,
5/15/33 
15,000‌
15‌
Fortress
Credit
BSL
XIX,
Series
2023-2A,
Class
A1R,
CLO,
FRN,
3M
TSFR
+
1.35%,
5.125%,
7/24/36 (5)
270,000‌
270‌
Goto
Foods
Funding,
Series
2026-1A,
Class
A2,
6.854%,
4/30/56 (5)
130,000‌
129‌
GreatAmerica
Leasing
Receivables
Funding,
Series
2026-1,
Class
B,
5.14%,
5/16/33 (5)
15,000‌
15‌
Hardee's
Funding,
Series
2024-1A,
Class
A2,
7.253%,
3/20/54 (5)
83,078‌
85‌
Hyundai
Auto
Receivables
Trust,
Series
2026-A,
Class
B,
4.10%,
12/15/32 
25,000‌
24‌
T.
ROWE
PRICE
Global
Allocation
Fund
32
Shares/Par
$
Value
(Cost
and
value
in
$000s)
Jamestown
XV,
Series
2020-15A,
Class
A1R2,
CLO,
FRN,
3M
TSFR
+
1.05%,
4.803%,
7/15/35 (5)
255,000‌
255‌
Midocean
Credit
XV,
Series
2024-15A,
Class
A1R,
CLO,
FRN,
3M
TSFR
+
1.25%,
4.984%,
7/21/39 (5)
250,000‌
250‌
MVW,
Series
2021-1WA,
Class
B,
1.44%,
1/22/41 (5)
12,994‌
13‌
Navient
Education
Loan
Trust,
Series
2026-A,
Class
A,
4.86%,
9/15/56 (5)
95,865‌
95‌
Navient
Private
Education
Refi
Loan
Trust,
Series
2019-CA,
Class
A2,
3.13%,
2/15/68 (5)
28,932‌
29‌
Navient
Private
Education
Refi
Loan
Trust,
Series
2020-GA,
Class
A,
1.17%,
9/16/69 (5)
11,925‌
11‌
Navient
Private
Education
Refi
Loan
Trust,
Series
2020-HA,
Class
A,
1.31%,
1/15/69 (5)
11,379‌
11‌
Navient
Refinance
Loan
Trust,
Series
2026-A,
Class
A,
4.50%,
1/18/56 (5)
87,161‌
85‌
Navient
Refinance
Loan
Trust,
Series
2026-B,
Class
A,
5.07%,
6/15/56 (5)
100,000‌
99‌
Nelnet
Student
Loan
Trust,
Series
2021-CA,
Class
AFX,
1.32%,
4/20/62 (5)
69,901‌
66‌
Neuberger
Berman
Loan
Advisers,
Series
2022-48A,
Class
A1R,
CLO,
FRN,
3M
TSFR
+
1.09%,
4.90%,
4/25/36 (5)
250,000‌
250‌
Octane
Receivables
Trust,
Series
2024-RVM1,
Class
A,
5.01%,
1/22/46 (5)
49,603‌
50‌
PEAC
Solutions
Receivables,
Series
2026-1A,
Class
A3,
4.39%,
7/20/33 (5)
45,000‌
45‌
Progress
Residential
Trust,
Series
2024-SFR5,
Class
A,
3.00%,
8/17/41 (5)
98,897‌
93‌
Regatta
XVI
Funding,
Series
2019-2A,
Class
A1R2,
CLO,
FRN,
3M
TSFR
+
1.19%,
4.943%,
4/15/39 (5)
250,000‌
250‌
Rockford
Tower,
Series
2022-1A,
Class
A1R,
CLO,
FRN,
3M
TSFR
+
1.20%,
4.929%,
7/20/35 (5)
250,000‌
250‌
Santander
Bank
Auto
Credit-Linked
Notes,
Series
2026-A,
Class
B,
4.806%,
7/17/34 (5)
250,000‌
249‌
Santander
Drive
Auto
Receivables
Trust,
Series
2026-1,
Class
A3,
3.93%,
7/15/30 
35,000‌
35‌
Santander
Drive
Auto
Receivables
Trust,
Series
2026-1,
Class
B,
4.07%,
4/15/32 
50,000‌
49‌
ServiceMaster
Funding,
Series
2021-1,
Class
A2I,
2.865%,
7/30/51 (5)
123,044‌
116‌
Sierra
Timeshare
Receivables
Funding,
Series
2025-2A,
Class
A,
4.72%,
4/20/44 (5)
54,029‌
54‌
Sierra
Timeshare
Receivables
Funding,
Series
2025-3A,
Class
A,
4.44%,
8/22/44 (5)
60,844‌
60‌
SMB
Private
Education
Loan
Trust,
Series
2018-B,
Class
A2A,
3.60%,
1/15/37 (5)
4,723‌
5‌
T.
ROWE
PRICE
Global
Allocation
Fund
33
Shares/Par
$
Value
(Cost
and
value
in
$000s)
SMB
Private
Education
Loan
Trust,
Series
2020-B,
Class
A1A,
1.29%,
7/15/53 (5)
21,854‌
21‌
SMB
Private
Education
Loan
Trust,
Series
2021-A,
Class
APT1,
1.07%,
1/15/53 (5)
71,796‌
66‌
Stellantis
Financial
Underwritten
Enhanced
Lease
Trust,
Series
2025-BA,
Class
B,
4.47%,
7/20/29 (5)
20,000‌
20‌
Stellantis
Financial
Underwritten
Enhanced
Lease
Trust,
Series
2026-AA,
Class
A4,
4.41%,
4/22/30 (5)
25,000‌
25‌
Stellantis
Financial
Underwritten
Enhanced
Lease
Trust,
Series
2026-AA,
Class
B,
4.61%,
4/22/30 (5)
10,000‌
10‌
TPIC
SPV,
Class
A,
10.00%,
12/6/26,
(10.00%
PIK),
Acquisition
Date:
12/10/24
-
7/28/26,
Cost $9 (3)(4)
9,567‌
10‌
TPIC
SPV
I,
Series
2024-1,
Class
A1,
7.131%,
12/28/29,
(7.131%
PIK),
Acquisition
Date:
12/10/24
-
7/28/26,
Cost $94 (3)(4)
94,050‌
71‌
Wellfleet,
Series
2019-1A,
Class
A2RR,
CLO,
FRN,
3M
TSFR
+
1.50%,
5.229%,
7/20/32 (5)
250,000‌
250‌
Wheels
Fleet
Lease
Funding,
Series
2026-1A,
Class
A2A,
4.30%,
4/18/39 (5)
100,000‌
100‌
6,099‌
Bond
Funds 16.4% 
T.
Rowe
Price
Dynamic
Global
Bond
Fund
-
I
Class,
5.55% (7)
(8)
2,161,737‌
16,451‌
T.
Rowe
Price
Emerging
Markets
Bond
Fund
-
I
Class,
6.06% (7)(8)
3,645,118‌
35,467‌
T.
Rowe
Price
Emerging
Markets
Local
Currency
Bond
Fund
-
I
Class,
6.69% (7)(8)
4,472,947‌
22,454‌
T.
Rowe
Price
Institutional
Floating
Rate
Fund
-
Institutional
Class,
6.46% (7)(8)
857,948‌
7,927‌
T.
Rowe
Price
Institutional
High
Yield
Fund
-
Institutional
Class,
6.49% (7)(8)
2,507,885‌
19,536‌
T.
Rowe
Price
International
Bond
Fund
-
I
Class,
3.54% (7)(8)
4,247,220‌
30,113‌
T.
Rowe
Price
International
Bond
Fund
(USD
Hedged)
-
I
Class,
3.56% (7)(8)
1,018,253‌
8,625‌
140,573‌
Common
Stocks 31.5% 
Abbott
Laboratories 
13,223‌
1,398‌
AbbVie 
5,421‌
1,360‌
Acadia
Realty
Trust,
REIT 
10,249‌
230‌
Advanced
Micro
Devices (2)
8,864‌
4,221‌
Airbnb,
Class
A (2)
1,854‌
281‌
Albemarle 
133‌
16‌
T.
ROWE
PRICE
Global
Allocation
Fund
34
Shares/Par
$
Value
(Cost
and
value
in
$000s)
Alexandria
Real
Estate
Equities,
REIT 
1,002‌
52‌
Alliant
Energy 
769‌
54‌
Allstate 
2,496‌
659‌
Alphabet,
Class
A 
14,337‌
5,106‌
Alphabet,
Class
C 
31,441‌
11,213‌
Amazon.com (2)
45,641‌
12,395‌
Amcor (1)
2,837‌
127‌
Ameren 
7,437‌
815‌
American
Express 
3,319‌
1,116‌
American
Homes
4
Rent,
Class
A,
REIT 
5,563‌
186‌
American
Tower,
REIT 
2,317‌
402‌
American
Water
Works 
3,419‌
459‌
AMETEK 
6,146‌
1,486‌
Amgen 
1,295‌
499‌
Amphenol,
Class
A 
8,361‌
1,344‌
Analog
Devices 
4,812‌
1,768‌
Antero
Resources (2)
663‌
24‌
Aon,
Class
A 
981‌
354‌
Apollo
Global
Management 
368‌
46‌
Apple 
44,965‌
13,890‌
Apple
Hospitality
REIT,
REIT 
4,338‌
72‌
Applied
Materials 
2,945‌
1,495‌
AppLovin
,
Class
A (2)
501‌
198‌
Argan 
28‌
16‌
Array
Technologies (1)(2)
6,304‌
33‌
Arxis
,
Class
A (1)(2)
2,936‌
159‌
Atmos
Energy 
257‌
44‌
AutoZone (2)
332‌
1,001‌
AvalonBay
Communities,
REIT 
1,571‌
292‌
Axis
Capital
Holdings 
1,222‌
129‌
Baker
Hughes 
3,257‌
197‌
Ball 
10,019‌
650‌
Bank
of
America 
31,071‌
1,925‌
Bel
Fuse,
Class
B 
155‌
42‌
BeOne
Medicines,
ADR (2)
252‌
80‌
Berkshire
Hathaway,
Class
B (2)
4,963‌
2,539‌
Blackrock 
170‌
185‌
Bloom
Energy,
Class
A (2)
33‌
7‌
Booking
Holdings 
13,565‌
2,617‌
Bristol-Myers
Squibb 
10,362‌
677‌
Broadcom 
22,818‌
8,883‌
Bruker 
5,454‌
343‌
Camden
Property
Trust,
REIT 
642‌
71‌
T.
ROWE
PRICE
Global
Allocation
Fund
35
Shares/Par
$
Value
(Cost
and
value
in
$000s)
Capital
One
Financial 
7,047‌
1,473‌
Carpenter
Technology 
181‌
94‌
Carvana (2)
49,503‌
3,087‌
Caterpillar 
1,744‌
1,421‌
Cava
Group (2)
3,481‌
227‌
CBRE
Group,
Class
A (2)
2,749‌
404‌
Cencora
5,674‌
1,767‌
Cerebras
Systems,
Class
A (2)
942‌
187‌
CF
Industries
Holdings 
2,186‌
274‌
Charles
Schwab 
20,357‌
2,142‌
Cheniere
Energy 
1,785‌
470‌
Chevron 
8,089‌
1,592‌
Chubb 
6,612‌
2,319‌
Ciena
 (2)
482‌
182‌
Cintas 
952‌
195‌
Cisco
Systems 
19,236‌
2,231‌
Citigroup 
2,017‌
267‌
CME
Group 
2,425‌
649‌
Coca-Cola 
8,534‌
747‌
Coeur
Mining 
3,041‌
45‌
Colgate-Palmolive 
5,354‌
489‌
Comfort
Systems
USA 
43‌
74‌
ConocoPhillips 
26,966‌
3,249‌
Constellation
Energy 
3,236‌
850‌
Corteva 
6,235‌
491‌
Crowdstrike
Holdings,
Class
A (2)
2,796‌
534‌
Crown
Castle,
REIT 
2,116‌
161‌
CSX 
26,956‌
1,359‌
CubeSmart
,
REIT 
5,584‌
231‌
Curbline
Properties,
REIT (1)
471‌
14‌
CVS
Health 
8,257‌
862‌
Danaher 
1,917‌
374‌
Datadog,
Class
A (2)
911‌
244‌
Deere 
5,347‌
3,169‌
Dell
Technologies,
Class
C 
764‌
310‌
Diamondback
Energy 
500‌
101‌
Digital
Realty
Trust,
REIT 
1,557‌
294‌
DoorDash
,
Class
A (2)
2,292‌
450‌
Douglas
Emmett,
REIT (1)
6,707‌
79‌
EagleRock
Land,
Class
A (2)
1,660‌
37‌
EastGroup
Properties,
REIT 
1,582‌
331‌
Eaton 
975‌
405‌
Eli
Lilly 
2,323‌
2,669‌
T.
ROWE
PRICE
Global
Allocation
Fund
36
Shares/Par
$
Value
(Cost
and
value
in
$000s)
Emerson
Electric 
5,549‌
831‌
Encompass
Health 
2,568‌
285‌
EQT 
8,502‌
453‌
Equifax 
1,648‌
284‌
Equinix,
REIT 
995‌
1,014‌
Equity
LifeStyle
Properties,
REIT 
16,662‌
1,084‌
Equity
Residential,
REIT 
4,038‌
268‌
ERock
,
Class
A (2)
1,491‌
15‌
Esab
3,406‌
295‌
Essex
Property
Trust,
REIT 
2,755‌
783‌
Expro
 (2)
4,636‌
74‌
ExxonMobil
Holdings 
9,099‌
1,414‌
Farmers
Business
Network,
Acquisition
Date:
11/3/17,
Cost $2 (2)(3)(4)
120‌
—‌
Federal
National
Mortgage
Assn. (2)
18,699‌
108‌
Federal
Realty
Investment
Trust,
REIT 
1,015‌
126‌
Fervo
Energy,
Class
A (2)
902‌
20‌
Fifth
Third
Bancorp 
15,807‌
893‌
Firefly
Aerospace (1)(2)
771‌
16‌
Floor
&
Decor
Holdings,
Class
A (1)(2)
4,592‌
264‌
Flowco
Holdings,
Class
A (1)
1,062‌
22‌
Form
Energy,
Warrants,
5/1/31,
Acquisition
Date:
5/4/26,
Cost $— (2)(3)(4)
362‌
4‌
Form
Energy,
Series
G,
Warrants,
5/1/31,
Acquisition
Date:
5/4/26,
Cost $— (2)(3)(4)
274‌
3‌
Freeport-McMoRan 
8,394‌
526‌
GE
Vernova
826‌
818‌
General
Electric 
6,440‌
2,319‌
Gilead
Sciences 
17,920‌
2,333‌
Goldman
Sachs
Group 
1,087‌
1,107‌
Gusto,
Acquisition
Date:
10/4/21,
Cost $24 (2)(3)(4)
826‌
18‌
Healthcare
Realty
Trust,
REIT 
3,848‌
81‌
HEICO 
653‌
233‌
Hilton
Worldwide
Holdings 
119‌
38‌
HMH
Holding,
Class
A (1)(2)
2,542‌
53‌
Home
Depot 
5,897‌
1,958‌
Humana 
889‌
323‌
Huntington
Bancshares 
15,886‌
271‌
Ingersoll
Rand 
23,492‌
1,959‌
Insmed
 (2)
1,472‌
145‌
Intel (2)
17,744‌
1,600‌
Intercontinental
Exchange 
7,763‌
1,184‌
InterDigital
 (1)
2,127‌
648‌
International
Business
Machines 
2,400‌
537‌
T.
ROWE
PRICE
Global
Allocation
Fund
37
Shares/Par
$
Value
(Cost
and
value
in
$000s)
International
Paper 
18,757‌
766‌
Intuitive
Surgical (2)
1,955‌
691‌
Ivanhoe
Electric (2)
6,071‌
56‌
Johnson
&
Johnson 
7,574‌
1,942‌
JPMorgan
Chase 
14,728‌
5,181‌
Keysight
Technologies (2)
5,240‌
1,672‌
Kilroy
Realty,
REIT 
1,245‌
48‌
Kinder
Morgan 
1,845‌
59‌
KLA 
5,238‌
958‌
Knife
River (2)
828‌
61‌
Kodiak
Gas
Services 
1,192‌
70‌
Kymera
Therapeutics (2)
2,107‌
218‌
Lam
Research 
9,041‌
2,649‌
Linde 
4,617‌
2,209‌
Lineage,
REIT 
335‌
14‌
Louisiana-Pacific 
1,058‌
77‌
Lowe's 
1,851‌
385‌
Madison
Air
Solutions,
Class
A (2)
1,210‌
35‌
Marriott
International,
Class
A 
1,499‌
559‌
Marsh
&
McLennan 
7,750‌
1,470‌
Martin
Marietta
Materials 
1,177‌
618‌
Marvell
Technology 
3,041‌
570‌
Mastercard,
Class
A 
3,582‌
2,053‌
McDonald's 
6,541‌
1,770‌
Medline,
Class
A (2)
2,196‌
86‌
Meta
Platforms,
Class
A 
8,386‌
4,669‌
MetLife 
4,463‌
429‌
Mettler-Toledo
International (2)
233‌
330‌
Micron
Technology 
1,201‌
988‌
Microsoft 
26,380‌
12,259‌
Mondelez
International,
Class
A 
25,361‌
1,580‌
Monolithic
Power
Systems 
453‌
646‌
Moody's 
1,308‌
626‌
Morgan
Stanley 
7,798‌
1,641‌
MP
Materials (1)(2)
687‌
28‌
Mueller
Industries 
988‌
66‌
Netflix (2)
34,601‌
2,481‌
Newmont 
4,047‌
379‌
NextEra
Energy 
6,782‌
589‌
Norfolk
Southern 
1,319‌
442‌
Northrop
Grumman 
634‌
344‌
NOV 
12,628‌
245‌
Nucor 
854‌
220‌
T.
ROWE
PRICE
Global
Allocation
Fund
38
Shares/Par
$
Value
(Cost
and
value
in
$000s)
nVent
Electric 
460‌
71‌
NVIDIA 
97,906‌
19,655‌
Old
Dominion
Freight
Line 
2,286‌
485‌
OpenAI
Group,
Class
A,
Acquisition
Date:
10/3/25
-
6/12/26,
Cost $230 (2)(3)(4)
463‌
318‌
Oracle 
4,534‌
589‌
O'Reilly
Automotive (2)
7,830‌
700‌
Otis
Worldwide 
6,100‌
439‌
Ovintiv
1,860‌
116‌
Packaging
Corp.
of
America 
6,242‌
1,535‌
Palantir
Technologies,
Class
A (2)
1,471‌
181‌
Parker-Hannifin 
1,230‌
1,201‌
Pebblebrook
Hotel
Trust,
REIT 
5,577‌
106‌
Pentair 
4,772‌
312‌
Permian
Resources,
Class
A 
4,502‌
96‌
Philip
Morris
International 
7,137‌
1,362‌
Procter
&
Gamble 
12,961‌
1,873‌
Progressive 
2,321‌
491‌
Prologis,
REIT 
5,500‌
795‌
Public
Storage,
REIT 
4,622‌
1,498‌
PulteGroup 
1,708‌
216‌
Qnity
Electronics 
483‌
63‌
QUALCOMM 
3,585‌
529‌
Quest
Diagnostics 
3,324‌
775‌
Range
Resources 
25,330‌
1,017‌
Rayonier,
REIT (1)
3,305‌
72‌
Regency
Centers,
REIT 
4,095‌
329‌
Regeneron
Pharmaceuticals 
532‌
406‌
Reliance 
1,480‌
601‌
Republic
Services 
5,737‌
1,208‌
Revvity
5,104‌
574‌
Rexford
Industrial
Realty,
REIT 
8,298‌
313‌
Roper
Technologies 
704‌
276‌
Ross
Stores 
2,065‌
518‌
Royal
Gold 
59‌
12‌
Royalty
Pharma,
Class
A 
8,424‌
492‌
Saia (2)
1,225‌
426‌
Salesforce 
5,554‌
1,022‌
ServiceNow (2)
4,294‌
478‌
Sherwin-Williams 
372‌
127‌
Shoals
Technologies
Group,
Class
A (2)
8,872‌
78‌
Simon
Property
Group,
REIT 
2,284‌
524‌
SL
Green
Realty,
REIT (1)
328‌
17‌
T.
ROWE
PRICE
Global
Allocation
Fund
39
Shares/Par
$
Value
(Cost
and
value
in
$000s)
SLB 
38,441‌
1,906‌
Smartstop
Self
Storage
REIT,
REIT (1)
5,346‌
179‌
Solstice
Advanced
Materials 
1,054‌
63‌
Sortera
Technologies,
Series
C-2,
Warrants,
6/27/28,
Acquisition
Date:
9/22/25,
Cost $— (2)(3)(4)
22‌
—‌
Southern 
18,831‌
1,780‌
Space
Exploration
Technologies,
Class
A (1)(2)
2,756‌
299‌
Stanley
Black
&
Decker 
648‌
61‌
Steel
Dynamics 
738‌
185‌
STERIS 
1,405‌
321‌
Stryker 
572‌
186‌
Sun
Communities,
REIT 
1,823‌
225‌
Synopsys (2)
470‌
183‌
T-Mobile
U.S. 
9,502‌
1,641‌
Talon
Capital (2)
2,024‌
21‌
Targa
Resources 
693‌
187‌
TE
Connectivity 
1,768‌
364‌
TechnipFMC 
16,097‌
1,153‌
Teledyne
Technologies (2)
968‌
635‌
Tenet
Healthcare (2)
4,320‌
1,101‌
Terreno
Realty,
REIT 
3,674‌
263‌
Tesla (2)
5,420‌
1,687‌
Texas
Instruments 
2,950‌
813‌
Thermo
Fisher
Scientific 
1,779‌
1,022‌
TJX 
4,805‌
756‌
Tractor
Supply 
6,617‌
204‌
Tradeweb
Markets,
Class
A 
2,882‌
290‌
TransDigm
Group 
199‌
250‌
Travelers 
476‌
178‌
Treeline
Biosciences,
Warrants,
8/21/35,
Acquisition
Date:
8/21/25,
Cost $— (2)(3)(4)
171‌
2‌
U.S.
Antimony (1)(2)
6,065‌
31‌
U.S.
Bancorp 
8,992‌
567‌
U.S.
Foods
Holding (2)
2,928‌
295‌
Ulta
Beauty (2)
648‌
332‌
UnitedHealth
Group 
8,258‌
3,422‌
Uranium
Energy (2)
57,027‌
547‌
USA
Rare
Earth (2)
1,695‌
25‌
Valero
Energy 
1,099‌
344‌
Veeva
Systems,
Class
A (2)
1,853‌
378‌
Ventas,
REIT 
5,259‌
492‌
Vertiv
Holdings,
Class
A 
2,291‌
553‌
Viavi
Solutions (2)
6,764‌
250‌
VICI
Properties,
REIT 
19,310‌
509‌
T.
ROWE
PRICE
Global
Allocation
Fund
40
Shares/Par
$
Value
(Cost
and
value
in
$000s)
Viper
Energy,
Class
A 
1,406‌
63‌
Visa,
Class
A 
12,496‌
4,575‌
Vornado
Realty
Trust,
REIT 
3,148‌
124‌
Walt
Disney 
9,653‌
929‌
Warrior
Met
Coal 
609‌
48‌
Weatherford
International 
1,247‌
109‌
Welltower,
REIT 
11,373‌
2,666‌
Western
Alliance
Bancorp 
2,928‌
236‌
Westinghouse
Air
Brake
Technologies 
6,811‌
1,981‌
Williams 
3,527‌
252‌
X-Energy (1)(2)
615‌
10‌
270,881‌
Convertible
Bonds 0.0% 
Element
Power,
Acquisition
Date:
2/11/26,
Cost $6,
8.00%,
12/19/27 (3)(4)
6,100‌
6‌
6‌
Convertible
Preferred
Stocks 0.3% 
ABL
Space
Systems,
Series
A-8,
Acquisition
Date:
3/24/21,
Cost $97 (2)(3)(4)
2,450‌
4‌
ABL
Space
Systems,
Series
A-9,
Acquisition
Date:
10/22/21,
Cost $42 (2)(3)(4)
691‌
1‌
Anduril
Industries,
Series
H,
Acquisition
Date:
4/28/26
-
5/12/26,
Cost $40 (2)(3)(4)
573‌
40‌
Anthropic,
Series
H-1,
Acquisition
Date:
5/28/26,
Cost $305 (2)(3)(4)
518‌
305‌
Cyclic
Materials,
Series
C,
Acquisition
Date:
12/11/25
-
7/31/26,
Cost $35 (2)(3)(4)
4,303‌
35‌
Databricks,
Series
G,
Acquisition
Date:
2/1/21,
Cost $21 (2)
(3)(4)
348‌
88‌
Databricks,
Series
H,
Acquisition
Date:
8/31/21,
Cost $68 (2)
(3)(4)
927‌
235‌
Databricks,
Series
I,
Acquisition
Date:
9/14/23,
Cost $7 (2)(3)
(4)
96‌
24‌
Databricks,
Series
J,
Acquisition
Date:
12/17/24,
Cost $42 (2)
(3)(4)
459‌
116‌
Farmers
Business
Network,
Series
D,
Acquisition
Date:
11/3/17,
Cost $1 (2)(3)(4)
43‌
—‌
Form
Energy,
Series
F,
Acquisition
Date:
10/4/24,
Cost $25 (2)(3)(4)
1,051‌
25‌
Form
Energy,
Series
G,
Acquisition
Date:
5/4/26,
Cost $8 (2)
(3)(4)
824‌
8‌
Gusto,
Series
E,
Acquisition
Date:
7/13/21,
Cost $34 (2)(3)(4)
1,103‌
24‌
T.
ROWE
PRICE
Global
Allocation
Fund
41
Shares/Par
$
Value
(Cost
and
value
in
$000s)
Jetti
Holdings,
Series
C,
Acquisition
Date:
5/24/21
-
6/30/21,
Cost $15 (2)(3)(4)
255‌
8‌
Jetti
Holdings,
Series
D,
Acquisition
Date:
9/20/22
-
10/19/22,
Cost $144 (2)(3)(4)
1,084‌
72‌
Kobold
Metals,
Series
B-1,
Acquisition
Date:
1/10/22,
Cost $71 (2)(3)(4)
2,594‌
292‌
Kobold
Metals,
Series
B-Prime,
Acquisition
Date:
3/21/23,
Cost $122 (2)(3)(4)
2,843‌
320‌
Lilac
Solutions,
Series
B,
Acquisition
Date:
9/8/21,
Cost $36 (2)(3)(4)
2,780‌
29‌
Lilac
Solutions,
Series
C-1,
Acquisition
Date:
11/21/22,
Cost $10 (2)(3)(4)
970‌
10‌
OpenAI,
Series
C,
Acquisition
Date:
3/12/26,
Cost $83 (2)(3)
(4)
120‌
83‌
Perplexity,
Series
E-1,
Acquisition
Date:
6/4/25,
Cost $48 (2)
(3)(4)
980‌
68‌
Redwood
Materials,
Series
C,
Acquisition
Date:
5/28/21,
Cost $79 (2)(3)(4)
1,666‌
79‌
SambaNova
Systems,
Series
F,
Acquisition
Date:
7/1/26,
Cost $68 (2)(3)(4)
533‌
68‌
Sortera
Technologies,
Series
C-1,
Acquisition
Date:
4/13/23,
Cost $11 (2)(3)(4)
764‌
12‌
Tonian
Holdings,
Series
A,
Non-Voting
Units,
Acquisition
Date:
1/15/21,
Cost $2 (2)(3)(4)
2,304‌
4‌
Tonian
Holdings,
Series
A,
Voting
Units,
Acquisition
Date:
1/15/21,
Cost $3 (2)(3)(4)
3,239‌
6‌
Treeline
Biosciences,
Series
A,
Acquisition
Date:
9/26/22,
Cost $12 (2)(3)(4)
1,491‌
14‌
Treeline
Biosciences,
Series
A-1,
Acquisition
Date:
10/2/24,
Cost $47 (2)(3)(4)
5,423‌
50‌
Treeline
Biosciences,
Series
A-2,
Acquisition
Date:
8/21/25,
Cost $10 (2)(3)(4)
1,138‌
11‌
Verai
Discoveries,
Series
A,
Acquisition
Date:
10/17/22,
Cost $16 (2)(3)(4)
802‌
36‌
Waymo,
Series
A-2,
Acquisition
Date:
5/8/20,
Cost $143 (2)
(3)(4)
1,669‌
327‌
2,394‌
Corporate
Bonds 3.0% 
AbbVie,
2.95%,
11/21/26 
145,000‌
144‌
AbbVie,
4.50%,
5/14/35 
30,000‌
28‌
AbbVie,
4.80%,
3/15/29 
150,000‌
150‌
AES,
5.20%,
7/15/29 
5,000‌
5‌
AES,
5.75%,
7/15/33 
10,000‌
10‌
Agilent
Technologies,
4.90%,
1/15/32 (5)
160,000‌
158‌
T.
ROWE
PRICE
Global
Allocation
Fund
42
Shares/Par
$
Value
(Cost
and
value
in
$000s)
AHS
Hospital,
5.024%,
7/1/45 
20,000‌
18‌
Alcon
Finance,
2.60%,
5/27/30 (5)
235,000‌
216‌
Ally
Financial,
2.20%,
11/2/28 
120,000‌
113‌
Amazon.com,
4.65%,
11/20/35 
155,000‌
146‌
Amazon.com,
5.65%,
3/13/46 
80,000‌
75‌
Ameren,
5.70%,
12/1/26 
185,000‌
186‌
American
Airlines
PTT,
Series
2019-1,
Class
AA,
3.15%,
2/15/32 
124,768‌
116‌
American
Express,
VR,
6.489%,
10/30/31 (6)
285,000‌
301‌
American
Honda
Finance,
4.55%,
7/9/27 
135,000‌
135‌
American
Tower,
1.45%,
9/15/26 
355,000‌
354‌
Amphenol,
5.05%,
4/5/29 
55,000‌
56‌
Appalachian
Power,
4.45%,
6/1/45 
240,000‌
192‌
Arthur
J
Gallagher,
4.85%,
12/15/29 
20,000‌
20‌
AT&T,
2.75%,
6/1/31 
215,000‌
194‌
Athene
Global
Funding,
4.86%,
8/27/26 (5)
175,000‌
175‌
AutoZone,
3.75%,
6/1/27 
70,000‌
70‌
AutoZone,
4.95%,
7/15/31 
30,000‌
30‌
Bank
of
America,
VR,
2.482%,
9/21/36 (6)
225,000‌
194‌
Bank
of
America,
VR,
4.244%,
4/24/38 (6)
120,000‌
107‌
Bank
of
America,
VR,
5.468%,
1/23/35 (6)
300,000‌
301‌
Banner
Health,
1.897%,
1/1/31 
65,000‌
57‌
Berkshire
Hathaway
Energy,
5.15%,
11/15/43 
25,000‌
23‌
Boeing,
6.875%,
3/15/39 
200,000‌
219‌
Brixmor
Operating
Partnership,
3.90%,
3/15/27 
195,000‌
194‌
Brixmor
Operating
Partnership,
4.05%,
7/1/30 
80,000‌
77‌
Broadcom,
4.60%,
7/15/30 
115,000‌
113‌
Broadcom,
4.60%,
1/15/33 
205,000‌
195‌
Cadence
Design
Systems,
4.30%,
9/10/29 
60,000‌
59‌
Cameron
LNG,
2.902%,
7/15/31 (5)
40,000‌
36‌
Cameron
LNG,
3.701%,
1/15/39 (5)
30,000‌
25‌
Cardinal
Health,
3.41%,
6/15/27 
125,000‌
124‌
Carvana,
(9.00%
Cash),
9.00%,
6/1/30 (5)(9)
29,330‌
30‌
Carvana,
(9.00%
Cash),
9.00%,
6/1/31 (5)(9)
40,397‌
44‌
Caterpillar
Financial
Services,
5.00%,
5/14/27 
240,000‌
241‌
CBRE
Services,
4.90%,
1/15/33 
5,000‌
5‌
Centene,
3.375%,
2/15/30 
65,000‌
60‌
Centra
Health,
4.70%,
1/1/48 
385,000‌
297‌
Charles
Schwab,
VR,
4.914%,
11/14/36 (6)
120,000‌
115‌
Charter
Communications
Operating,
6.10%,
6/1/29 
80,000‌
81‌
Cheniere
Energy
Partners,
5.35%,
11/30/36 (5)
15,000‌
15‌
Chevron
USA,
4.30%,
10/15/30 
115,000‌
113‌
Chpe
,
5.10%,
6/30/33 (5)
35,000‌
34‌
T.
ROWE
PRICE
Global
Allocation
Fund
43
Shares/Par
$
Value
(Cost
and
value
in
$000s)
Citigroup,
4.45%,
9/29/27 
70,000‌
70‌
Citigroup,
VR,
3.887%,
1/10/28 (6)
315,000‌
314‌
Citigroup,
VR,
4.075%,
4/23/29 (6)
100,000‌
99‌
CMS
Energy,
4.875%,
3/1/44 
25,000‌
21‌
CNH
Industrial
Capital,
4.375%,
3/7/31 
195,000‌
189‌
CNO
Global
Funding,
2.65%,
1/6/29 (5)
315,000‌
298‌
Columbia
Pipelines
Holding,
4.999%,
11/17/32 (5)
130,000‌
127‌
CommonSpirit
Health,
2.782%,
10/1/30 
50,000‌
46‌
Corebridge
Financial,
4.40%,
4/5/52 
375,000‌
284‌
Corebridge
Global
Funding,
4.65%,
8/20/27 (5)
60,000‌
60‌
Cox
Communications,
5.45%,
9/1/34 (5)
105,000‌
97‌
CRH
America
Finance,
3.95%,
4/4/28 (5)
400,000‌
395‌
Crown
Castle,
2.10%,
4/1/31 
250,000‌
218‌
Crown
Castle,
4.75%,
5/15/47 
30,000‌
24‌
CVS
Health,
5.00%,
9/15/32 
25,000‌
25‌
CVS
Health,
5.40%,
6/1/29 
115,000‌
117‌
CVS
Health,
6.00%,
6/1/63 
80,000‌
74‌
Dell
International,
4.75%,
7/15/31 
60,000‌
59‌
Diamondback
Energy,
5.15%,
1/30/30 
35,000‌
35‌
Dominion
Energy,
5.35%,
6/15/36 
75,000‌
73‌
DTE
Energy,
4.95%,
7/1/27 
45,000‌
45‌
Elevance
Health,
4.101%,
3/1/28 
130,000‌
129‌
Elevance
Health,
4.65%,
1/15/43 
20,000‌
17‌
Enact
Holdings,
6.25%,
5/28/29 
21,000‌
22‌
Energy
Transfer,
5.25%,
4/15/29 
120,000‌
121‌
Energy
Transfer,
5.60%,
9/1/34 
175,000‌
176‌
Enterprise
Products
Operating,
4.30%,
6/20/28 
100,000‌
100‌
Enterprise
Products
Operating,
4.60%,
1/15/31 
105,000‌
104‌
EOG
Resources,
4.40%,
7/15/28 
55,000‌
55‌
EOG
Resources,
4.40%,
1/15/31 
55,000‌
54‌
Equitable
America
Global
Funding,
4.95%,
6/25/29 (5)
150,000‌
149‌
Essex
Portfolio,
2.65%,
3/15/32 
135,000‌
118‌
Experian
Finance,
2.75%,
3/8/30 (5)
200,000‌
185‌
Extra
Space
Storage,
4.00%,
6/15/29 
145,000‌
141‌
Fidelity
National
Information
Services,
4.80%,
3/10/31 
75,000‌
74‌
Fifth
Third
Bancorp,
VR,
4.566%,
4/29/32 (6)
100,000‌
97‌
Fifth
Third
Bancorp,
VR,
4.895%,
9/6/30 (6)
55,000‌
55‌
FirstEnergy
Transmission,
5.00%,
1/15/35 
60,000‌
58‌
Fiserv,
5.45%,
3/15/34 
175,000‌
170‌
Ford
Motor
Credit,
7.122%,
11/7/33 
200,000‌
211‌
Foundry
JV
Holdco,
6.15%,
1/25/32 (5)
200,000‌
206‌
GA
Global
Funding
Trust,
5.50%,
7/17/31 (5)
155,000‌
154‌
GATX,
6.90%,
5/1/34 
270,000‌
292‌
T.
ROWE
PRICE
Global
Allocation
Fund
44
Shares/Par
$
Value
(Cost
and
value
in
$000s)
General
Motors
Financial,
2.40%,
4/10/28 
305,000‌
293‌
George
Washington
University,
Series
2014,
4.30%,
9/15/44 
15,000‌
12‌
Goldman
Sachs
Group,
3.85%,
1/26/27 
115,000‌
115‌
Goldman
Sachs
Group,
5.15%,
5/22/45 
15,000‌
13‌
Goldman
Sachs
Group,
6.75%,
10/1/37 
10,000‌
11‌
Goldman
Sachs
Group,
VR,
2.615%,
4/22/32 (6)
200,000‌
178‌
HA
Sustainable
Infrastructure
Capital,
5.95%,
7/15/33 (5)
45,000‌
44‌
HCA,
4.125%,
6/15/29 
235,000‌
231‌
HCA,
5.45%,
9/15/34 
85,000‌
84‌
Health
Care
Service
Corp.
A
Mutual
Legal
Reserve,
5.45%,
6/15/34 (5)
95,000‌
94‌
Healthcare
Realty
Holdings,
3.625%,
1/15/28 
30,000‌
29‌
Healthpeak
OP,
2.125%,
12/1/28 
80,000‌
75‌
Healthpeak
OP,
2.875%,
1/15/31 
45,000‌
41‌
Honeywell
International,
1.10%,
3/1/27 
275,000‌
270‌
Humana,
5.95%,
3/15/34 
110,000‌
112‌
Huntington
Bancshares,
VR,
6.141%,
11/18/39 (6)
185,000‌
185‌
Hyundai
Capital
America,
1.65%,
9/17/26 (5)
180,000‌
179‌
Hyundai
Capital
America,
2.00%,
6/15/28 (5)
235,000‌
223‌
Hyundai
Capital
America,
4.75%,
6/18/29 (5)
55,000‌
55‌
Indiana
University
Health
Obligated
Group,
3.97%,
11/1/48 
145,000‌
111‌
Intercontinental
Exchange,
5.25%,
6/15/31 
75,000‌
76‌
Invitation
Homes
Operating
Partnership,
2.30%,
11/15/28 
210,000‌
198‌
IQVIA,
6.25%,
2/1/29 
50,000‌
51‌
Jackson
National
Life
Global
Funding,
4.90%,
1/13/27 (5)
170,000‌
170‌
John
Deere
Capital,
4.40%,
9/8/31 
260,000‌
255‌
JPMorgan
Chase,
VR,
3.882%,
7/24/38 (6)
160,000‌
138‌
JPMorgan
Chase,
VR,
5.576%,
7/23/36 (6)
70,000‌
69‌
Kentucky
Utilities,
4.375%,
10/1/45 
65,000‌
53‌
Kilroy
Realty,
4.25%,
8/15/29 
25,000‌
24‌
L3Harris
Technologies,
4.854%,
4/27/35 
50,000‌
48‌
Liberty
Mutual
Group,
4.85%,
8/1/44 (5)
20,000‌
17‌
Lowe's,
4.45%,
4/1/62 
80,000‌
59‌
LPL
Holdings,
6.75%,
11/17/28 
185,000‌
192‌
Manufacturers
&
Traders
Trust,
VR,
4.762%,
7/6/28 (6)
250,000‌
250‌
Marriott
International,
Series
AA,
4.65%,
12/1/28 
285,000‌
285‌
Mars,
4.75%,
4/20/33 (5)
125,000‌
122‌
MassMutual
Global
Funding
II,
5.10%,
4/9/27 (5)
220,000‌
221‌
MedStar
Health,
Series
20A,
3.626%,
8/15/49 
130,000‌
91‌
Met
Tower
Global
Funding,
1.25%,
9/14/26 (5)
245,000‌
244‌
Meta
Platforms,
5.50%,
11/15/45 
120,000‌
104‌
Mid-Atlantic
Interstate
Transmission,
4.10%,
5/15/28 (5)
110,000‌
109‌
Morgan
Stanley,
VR,
5.656%,
4/18/30 (6)
360,000‌
366‌
T.
ROWE
PRICE
Global
Allocation
Fund
45
Shares/Par
$
Value
(Cost
and
value
in
$000s)
Motorola
Solutions,
5.00%,
4/15/29 
50,000‌
50‌
MPLX,
4.80%,
2/15/31 
85,000‌
84‌
Netflix,
5.25%,
8/15/36 
75,000‌
74‌
New
York
Life
Global
Funding,
4.05%,
2/2/29 (5)
195,000‌
192‌
New
York
State
Electric
&
Gas,
5.30%,
8/15/34 (5)
65,000‌
64‌
NextEra
Energy
Capital
Holdings,
4.685%,
9/1/27 
30,000‌
30‌
Niagara
Mohawk
Power,
4.647%,
10/3/30 (5)
50,000‌
49‌
Niagara
Mohawk
Power,
5.112%,
1/12/36 (5)
155,000‌
149‌
NiSource,
3.49%,
5/15/27 
215,000‌
214‌
NiSource,
3.95%,
3/30/48 
105,000‌
77‌
Northern
Trust,
4.15%,
11/19/30 
75,000‌
73‌
Northwestern
Mutual
Global
Funding,
4.74%,
6/30/31 (5)
110,000‌
109‌
Nucor,
2.70%,
6/1/30 
70,000‌
65‌
Nucor,
3.95%,
5/1/28 
121,000‌
120‌
Occidental
Petroleum,
5.375%,
1/1/32 
105,000‌
106‌
Oracle,
5.20%,
9/26/35 
155,000‌
139‌
Oracle,
5.375%,
7/15/40 
125,000‌
104‌
O'Reilly
Automotive,
3.60%,
9/1/27 
145,000‌
144‌
O'Reilly
Automotive,
5.75%,
11/20/26 
35,000‌
35‌
Owens
Corning,
5.70%,
6/15/34 
50,000‌
51‌
PACCAR
Financial,
Series
R,
3.90%,
2/5/29 
195,000‌
192‌
Pacific
Gas
&
Electric,
2.10%,
8/1/27 
275,000‌
267‌
Pacific
Life
Global
Funding
II,
4.375%,
2/3/31 (5)
175,000‌
171‌
Pfizer,
4.50%,
11/15/32 
125,000‌
122‌
PNC
Financial
Services
Group,
VR,
4.831%,
7/19/30 (6)
35,000‌
35‌
PNC
Financial
Services
Group,
VR,
5.373%,
7/21/36 (6)
40,000‌
39‌
President
&
Fellows
of
Harvard
College,
3.619%,
10/1/37 
25,000‌
22‌
Pricoa
Global
Funding
I,
4.35%,
11/25/30 (5)
175,000‌
171‌
Principal
Financial
Group,
2.125%,
6/15/30 
160,000‌
144‌
Principal
Financial
Group,
4.111%,
2/15/28 (5)
100,000‌
99‌
Public
Service
Enterprise
Group,
4.80%,
6/15/31 
190,000‌
188‌
Public
Storage
Operating,
1.95%,
11/9/28 
150,000‌
141‌
Realty
Income,
2.20%,
6/15/28 
70,000‌
67‌
Regency
Centers,
4.125%,
3/15/28 
35,000‌
35‌
Revvity
,
1.90%,
9/15/28 
230,000‌
217‌
RGA
Global
Funding,
4.35%,
8/25/28 (5)
80,000‌
79‌
RGA
Global
Funding,
4.60%,
11/25/30 (5)
110,000‌
107‌
RGA
Global
Funding,
5.448%,
5/24/29 (5)
100,000‌
101‌
Roper
Technologies,
3.80%,
12/15/26 
50,000‌
50‌
RTX,
6.40%,
3/15/54 
175,000‌
183‌
Sabine
Pass
Liquefaction,
4.20%,
3/15/28 
50,000‌
50‌
Sammons
Financial
Group,
5.95%,
6/15/36 (5)
55,000‌
54‌
Santander
Holdings
USA,
VR,
2.49%,
1/6/28 (6)
135,000‌
134‌
T.
ROWE
PRICE
Global
Allocation
Fund
46
Shares/Par
$
Value
(Cost
and
value
in
$000s)
Santander
Holdings
USA,
VR,
5.04%,
6/5/30 (6)
45,000‌
45‌
Santander
Holdings
USA,
VR,
6.342%,
5/31/35 (6)
110,000‌
114‌
Sempra,
5.25%,
3/15/36 
30,000‌
29‌
ServiceNow,
1.40%,
9/1/30 
235,000‌
205‌
Sherwin-Williams,
4.80%,
9/1/31 
175,000‌
173‌
Simon
Property
Group,
2.65%,
2/1/32 
340,000‌
301‌
Solventum
,
5.40%,
3/1/29 
43,000‌
44‌
Southern,
5.70%,
3/15/34 
90,000‌
92‌
Southern
Gas
Capital,
4.95%,
9/15/34 
100,000‌
97‌
Space
Exploration
Technologies,
5.35%,
7/15/31 (5)
30,000‌
29‌
Space
Exploration
Technologies,
5.65%,
7/15/33 (5)
55,000‌
53‌
T-Mobile
USA,
5.00%,
2/15/36 
160,000‌
152‌
Targa
Resources,
5.50%,
2/15/35 
45,000‌
45‌
Targa
Resources
Partners,
5.00%,
1/15/28 
75,000‌
75‌
Texas
Instruments,
1.125%,
9/15/26 
80,000‌
80‌
Time
Warner
Cable,
6.55%,
5/1/37 
13,000‌
12‌
Time
Warner
Cable,
6.75%,
6/15/39 
13,000‌
12‌
TJX,
1.60%,
5/15/31 
55,000‌
47‌
Toyota
Motor
Credit,
Series
B,
4.20%,
1/10/31 
155,000‌
151‌
Truist
Financial,
Series
I,
VR,
4.957%,
7/23/30 (6)
45,000‌
45‌
U.S.
Bancorp,
VR,
4.857%,
7/27/30 (6)
195,000‌
195‌
U.S.
Steel,
5.20%,
8/1/31 (5)
200,000‌
198‌
Uber
Technologies,
4.30%,
1/15/30 
145,000‌
142‌
Union
Pacific,
4.75%,
9/15/41 
10,000‌
9‌
United
Airlines
PTT,
Series
2014-2,
Class
A,
3.75%,
9/3/26 
2,093‌
2‌
United
Airlines
PTT,
Series
2018-1,
Class
A,
3.70%,
3/1/30 
214,211‌
203‌
UnitedHealth
Group,
4.70%,
4/15/29 
200,000‌
200‌
UnitedHealth
Group,
5.75%,
7/15/64 
80,000‌
74‌
VeriSign,
5.10%,
7/15/31 
115,000‌
115‌
Verizon
Communications,
1.68%,
10/30/30 
28,000‌
24‌
Verizon
Communications,
4.75%,
1/15/33 
95,000‌
92‌
Vistra
Operations,
5.25%,
4/30/33 (5)
90,000‌
88‌
Vistra
Operations,
5.70%,
12/30/34 (5)
185,000‌
183‌
Waste
Connections,
2.20%,
1/15/32 
155,000‌
135‌
Wells
Fargo,
VR,
5.389%,
4/24/34 (6)
410,000‌
410‌
Williams,
4.625%,
6/30/30 
60,000‌
59‌
Williams,
5.15%,
3/15/34 
35,000‌
34‌
Willis
North
America,
4.50%,
9/15/28 
160,000‌
159‌
WP
Carey,
3.85%,
7/15/29 
115,000‌
112‌
Zoetis,
4.15%,
8/17/28 
190,000‌
188‌
25,526‌
T.
ROWE
PRICE
Global
Allocation
Fund
47
Shares/Par
$
Value
(Cost
and
value
in
$000s)
Equity
Funds 6.7% 
iShares
Core
U.S.
REIT
ETF 
5,228‌
355‌
State
Street
SPDR
S&P
Metals
&
Mining
ETF (1)
1,351‌
136‌
T.
Rowe
Price
Integrated
U.S.
Small-Mid
Cap
Core
Equity
Fund
-
I
Class (7)
1,894,540‌
56,836‌
T.
Rowe
Price
Natural
Resources
ETF (1)(7)
6,400‌
209‌
57,536‌
Municipal
Securities 0.2% 
Bay
Area
Toll
Auth.,
Series
S-10,
3.176%,
4/1/41 
300,000‌
235‌
California,
Build
America,
GO,
7.625%,
3/1/40 
35,000‌
40‌
California
State
Univ.,
Series
B,
2.795%,
11/1/41 
250,000‌
183‌
Florida
Dev.
Finance,
Nova
Southeastern
Univ.,
Series
B,
4.109%,
4/1/50 
390,000‌
308‌
Fulton
County,
Build
America,
GO,
5.148%,
7/1/39 
180,000‌
177‌
JobsOhio
Beverage
System,
Series
B,
3.985%,
1/1/29 
10,000‌
10‌
Los
Angeles
Airport,
Series
C,
Build
America,
7.053%,
5/15/40 
15,000‌
16‌
Maryland
Economic
Dev.,
Seagirt
Marine
Terminal,
Series
B,
4.75%,
6/1/42 
175,000‌
147‌
Maryland
HHEFA,
Univ.
of
Maryland
Medical
System,
Series
B,
4.665%,
7/1/36 
20,000‌
19‌
Metropolitan
Government
Nashville
&
Davidson
County
Health
&
Ed.
Facs
,
Vanderbilt
Univ.
Medical
Center,
Series
B,
3.235%,
7/1/52 
200,000‌
123‌
Miami-Dade
County
Transit
System,
Series
B,
Build
America,
5.624%,
7/1/40 
160,000‌
160‌
Municipal
Electric
Auth.
of
Georgia,
Build
America,
Vogtle
Units,
6.655%,
4/1/57 
119,000‌
124‌
New
York
State
Dormitory
Auth.,
Series
F,
Build
America,
5.628%,
3/15/39 
15,000‌
15‌
Virginia
Commonwealth
Univ.
Health
System
Auth.,
Series
A,
4.956%,
1/1/44 
25,000‌
23‌
1,580‌
Non-U.S.
Government
Mortgage-Backed
Securities 0.4% 
Angel
Oak
Mortgage
Trust,
Series
2021-1,
Class
A1,
CMO,
ARM,
0.909%,
1/25/66 (5)
42,179‌
37‌
BANK,
Series
2026-BNK52,
Class
A5,
5.586%,
5/15/69 
50,000‌
51‌
BANK5,
Series
2024-5YR8,
Class
AS,
ARM,
6.378%,
8/15/57 
45,000‌
46‌
BANK5,
Series
2026-5YR21,
Class
A3,
5.525%,
4/15/59 
35,000‌
35‌
Barclays
Mortgage
Loan
Trust,
Series
2021-NQM1,
Class
A3,
CMO,
ARM,
2.189%,
9/25/51 (5)
51,023‌
46‌
T.
ROWE
PRICE
Global
Allocation
Fund
48
Shares/Par
$
Value
(Cost
and
value
in
$000s)
Bayview
Financing
Trust,
Series
2024-2F,
Class
A,
CMO,
ARM,
Acquisition
Date:
8/29/24,
Cost $82,
6.383%,
9/25/29 (3)(4)
81,940‌
82‌
BBCMS
Mortgage
Trust,
Series
2019-BWAY,
Class
D,
ARM,
1M
TSFR
+
2.274%,
5.95%,
11/15/34 (5)
50,000‌
1‌
Benchmark
Mortgage
Trust,
Series
2023-B39,
Class
A5,
5.754%,
7/15/56 
105,000‌
108‌
Benchmark
Mortgage
Trust,
Series
2024-V8,
Class
A3,
ARM,
6.189%,
7/15/57 
70,000‌
72‌
Benchmark
Mortgage
Trust,
Series
2025-B41,
Class
A5,
5.407%,
7/15/68 
100,000‌
100‌
Benchmark
Mortgage
Trust,
Series
2025-V16,
Class
A3,
ARM,
5.439%,
8/15/58 
180,000‌
182‌
Benchmark
Mortgage
Trust,
Series
2025-V19,
Class
A3,
5.249%,
1/15/58 
100,000‌
100‌
Benchmark
Mortgage
Trust,
Series
2026-B42,
Class
A5,
5.10%,
3/15/59 
30,000‌
29‌
BFLD
Commercial
Mortgage
Trust,
Series
2025-5MW,
Class
A,
ARM,
4.674%,
10/10/42 (5)
100,000‌
98‌
BX
Commercial
Mortgage
Trust,
Series
2026-CSMO,
Class
A,
ARM,
1M
TSFR
+
1.40%,
5.076%,
2/15/43 (5)
100,000‌
100‌
BX
Trust,
Series
2025-VOLT,
Class
A,
ARM,
1M
TSFR
+
1.70%,
5.376%,
12/15/44 (5)
100,000‌
100‌
CENT,
Series
2025-CITY,
Class
A,
ARM,
4.92%,
7/10/40 (5)
100,000‌
99‌
Citigroup
Mortgage
Loan
Trust,
Series
2020-EXP2,
Class
A3,
CMO,
ARM,
2.50%,
8/25/50 (5)
40,562‌
35‌
COLT
Mortgage
Loan
Trust,
Series
2025-8,
Class
A1,
CMO,
STEP,
5.48%,
8/25/70 (5)
81,122‌
81‌
DBC
Mortgage
Trust,
Series
2025-DBC,
Class
A,
ARM,
1M
TSFR
+
1.35%,
5.027%,
11/15/42 (5)
100,000‌
100‌
Deephaven
Residential
Mortgage
Trust,
Series
2026-INV1,
Class
A1,
CMO,
ARM,
4.797%,
12/25/70 (5)
94,072‌
93‌
EFMT,
Series
2025-NQM5,
Class
A1,
CMO,
ARM,
5.033%,
11/25/70 (5)
83,274‌
83‌
Ellington
Financial
Mortgage
Trust,
Series
2019-2,
Class
A3,
CMO,
ARM,
3.046%,
11/25/59 (5)
4,521‌
4‌
Ellington
Financial
Mortgage
Trust,
Series
2020-2,
Class
A1,
CMO,
ARM,
1.178%,
10/25/65 (5)
17,150‌
16‌
Galton
Funding
Mortgage
Trust,
Series
2018-1,
Class
A23,
CMO,
ARM,
3.50%,
11/25/57 (5)
3,595‌
3‌
GCAT
Trust,
Series
2025-NQM4,
Class
A1,
CMO,
STEP,
5.529%,
6/25/70 (5)
84,752‌
85‌
Grace
Trust,
Series
2020-GRCE,
Class
C,
ARM,
2.68%,
12/10/40 (5)
100,000‌
88‌
JPMorgan
Mortgage
Trust,
Series
2019-HYB1,
Class
B4,
CMO,
ARM,
5.148%,
10/25/49 (5)
53,042‌
53‌
T.
ROWE
PRICE
Global
Allocation
Fund
49
Shares/Par
$
Value
(Cost
and
value
in
$000s)
JPMorgan
Mortgage
Trust,
Series
2019-INV3,
Class
A15,
CMO,
ARM,
3.50%,
5/25/50 (5)
22,430‌
20‌
JPMorgan
Mortgage
Trust,
Series
2019-INV3,
Class
A3,
CMO,
ARM,
3.50%,
5/25/50 (5)
26,562‌
24‌
JPMorgan
Mortgage
Trust,
Series
2020-INV1,
Class
A3,
CMO,
ARM,
3.50%,
8/25/50 (5)
11,645‌
10‌
JPMorgan
Mortgage
Trust,
Series
2025-DSC2,
Class
A1,
CMO,
ARM,
5.195%,
10/25/65 (5)
23,125‌
23‌
JPMorgan
Mortgage
Trust,
Series
2025-NQM3,
Class
A1,
CMO,
ARM,
5.495%,
11/25/65 (5)
136,814‌
137‌
MAD
Commercial
Mortgage
Trust,
Series
2025-11MD,
Class
A,
ARM,
4.754%,
10/15/42 (5)
100,000‌
98‌
Morgan
Stanley
Bank
of
America
Merrill
Lynch
Trust,
Series
2025-C35,
Class
A5,
5.633%,
8/15/58 
65,000‌
66‌
Morgan
Stanley
Residential
Mortgage
Loan
Trust,
Series
2025-DSC2,
Class
A1,
CMO,
ARM,
5.443%,
7/25/70 (5)
89,795‌
89‌
Morgan
Stanley
Residential
Mortgage
Loan
Trust,
Series
2025-NQM5,
Class
A1,
CMO,
ARM,
5.439%,
7/25/70 (5)
76,490‌
76‌
MSWF
Commercial
Mortgage
Trust,
Series
2023-2,
Class
A5,
ARM,
6.014%,
12/15/56 
50,000‌
52‌
New
Residential
Mortgage
Loan
Trust,
Series
2022-INV1,
Class
A4,
CMO,
ARM,
3.00%,
3/25/52 (5)
112,758‌
94‌
New
Residential
Mortgage
Loan
Trust,
Series
2025-NQM4,
Class
A1,
CMO,
ARM,
5.35%,
7/25/65 (5)
105,405‌
105‌
NYC
Commercial
Mortgage
Trust,
Series
2025-28L,
Class
A,
ARM,
4.668%,
11/5/38 (5)
100,000‌
99‌
OBX
Trust,
Series
2019-EXP3,
Class
2A2,
CMO,
ARM,
1M
TSFR
+
1.214%,
4.939%,
10/25/59 (5)
1,054‌
1‌
OBX
Trust,
Series
2025-NQM15,
Class
A1,
CMO,
ARM,
5.143%,
7/27/65 (5)
70,177‌
70‌
OBX
Trust,
Series
2026-R1,
Class
A1,
CMO,
ARM,
4.884%,
1/25/63 (5)
92,110‌
91‌
Provident
Funding
Mortgage
Trust,
Series
2019-1,
Class
B1,
CMO,
ARM,
3.16%,
12/25/49 (5)
167,345‌
142‌
SCG
Mortgage
Trust,
Series
2026-PALM,
Class
A,
ARM,
1M
TSFR
+
1.27%,
4.90%,
7/15/43 (5)
100,000‌
100‌
Sequoia
Mortgage
Trust,
Series
2018-CH2,
Class
A3,
CMO,
ARM,
4.00%,
6/25/48 (5)
4,217‌
4‌
Starwood
Mortgage
Residential
Trust,
Series
2020-INV1,
Class
A1,
CMO,
ARM,
1.027%,
11/25/55 (5)
5,835‌
6‌
Structured
Agency
Credit
Risk
Debt
Notes,
Series
2025-
DNA3,
Class
M1,
CMO,
ARM,
SOFR30A
+
1.10%,
4.716%,
9/25/45 (5)
26,065‌
26‌
Structured
Agency
Credit
Risk
Debt
Notes,
Series
2025-
HQA1,
Class
A1,
CMO,
ARM,
SOFR30A
+
0.95%,
4.566%,
2/25/45 (5)
13,125‌
13‌
T.
ROWE
PRICE
Global
Allocation
Fund
50
Shares/Par
$
Value
(Cost
and
value
in
$000s)
Towd
Point
Mortgage
Trust,
Series
2024-2,
Class
A1B,
CMO,
ARM,
4.922%,
12/25/64 (5)
180,775‌
180‌
Towd
Point
Mortgage
Trust,
Series
2025-CES4,
Class
A1A,
STEP,
5.091%,
10/25/65 (5)
82,005‌
81‌
Towd
Point
Mortgage
Trust,
Series
2026-1,
Class
A1A,
CMO,
ARM,
4.131%,
1/25/66 (5)
91,686‌
90‌
Verus
Securitization
Trust,
Series
2021-1,
Class
A1,
CMO,
ARM,
0.815%,
1/25/66 (5)
19,686‌
18‌
Verus
Securitization
Trust,
Series
2025-7,
Class
A1F,
CMO,
ARM,
SOFR30A
+
1.20%,
4.816%,
8/25/70 (5)
81,073‌
81‌
Wells
Fargo
Commercial
Mortgage
Trust,
Series
2019-C54,
Class
A4,
3.146%,
12/15/52 
45,000‌
42‌
3,765‌
Preferred
Stocks 0.0% 
Sortera
Technologies,
Series
PF2-1,
Acquisition
Date:
9/22/25,
Cost $6 (2)(3)(4)
9‌
6‌
Sortera
Technologies,
Series
PF2-10,
Acquisition
Date:
9/22/25
-
10/8/25,
Cost $6 (2)(3)(4)
9‌
6‌
Sortera
Technologies,
Series
PF2-11,
Acquisition
Date:
10/8/25,
Cost $6 (2)(3)(4)
9‌
6‌
Sortera
Technologies,
Series
PF2-12,
Acquisition
Date:
10/8/25,
Cost $6 (2)(3)(4)
9‌
6‌
Sortera
Technologies,
Series
PF2-13,
Acquisition
Date:
10/8/25,
Cost $6 (2)(3)(4)
9‌
6‌
Sortera
Technologies,
Series
PF2-14,
Acquisition
Date:
10/8/25,
Cost $6 (2)(3)(4)
9‌
6‌
Sortera
Technologies,
Series
PF2-15,
Acquisition
Date:
10/8/25,
Cost $6 (2)(3)(4)
9‌
6‌
Sortera
Technologies,
Series
PF2-16,
Acquisition
Date:
10/8/25,
Cost $6 (2)(3)(4)
9‌
6‌
Sortera
Technologies,
Series
PF2-17,
Acquisition
Date:
10/8/25,
Cost $6 (2)(3)(4)
9‌
6‌
Sortera
Technologies,
Series
PF2-18,
Acquisition
Date:
10/8/25,
Cost $6 (2)(3)(4)
9‌
6‌
Sortera
Technologies,
Series
PF2-19,
Acquisition
Date:
10/8/25,
Cost $4 (2)(3)(4)
7‌
4‌
Sortera
Technologies,
Series
PF2-2,
Acquisition
Date:
9/22/25,
Cost $5 (2)(3)(4)
9‌
5‌
Sortera
Technologies,
Series
PF2-3,
Acquisition
Date:
9/22/25,
Cost $6 (2)(3)(4)
9‌
6‌
Sortera
Technologies,
Series
PF2-4,
Acquisition
Date:
9/22/25,
Cost $6 (2)(3)(4)
9‌
6‌
Sortera
Technologies,
Series
PF2-5,
Acquisition
Date:
9/22/25,
Cost $6 (2)(3)(4)
9‌
6‌
T.
ROWE
PRICE
Global
Allocation
Fund
51
Shares/Par
$
Value
(Cost
and
value
in
$000s)
Sortera
Technologies,
Series
PF2-6,
Acquisition
Date:
9/22/25,
Cost $6 (2)(3)(4)
9‌
6‌
Sortera
Technologies,
Series
PF2-7,
Acquisition
Date:
9/22/25,
Cost $6 (2)(3)(4)
9‌
6‌
Sortera
Technologies,
Series
PF2-8,
Acquisition
Date:
9/22/25,
Cost $6 (2)(3)(4)
9‌
6‌
Sortera
Technologies,
Series
PF2-9,
Acquisition
Date:
9/22/25,
Cost $6 (2)(3)(4)
9‌
6‌
111‌
Private
Investment
Companies 7.9% 
Blackstone
Partners
Offshore
Fund,
Series
E1
(2)(3)
21,610‌
67,891‌
67,891‌
U.S.
Government
&
Agency
Mortgage-Backed
Securities 0.2% 
Federal
Home
Loan
Mortgage
Multifamily
Structured
PTC 
2.952%,
2/25/27 
2,372‌
2‌
4.40%,
10/25/30 
405,000‌
400‌
Federal
Home
Loan
Mortgage
Multifamily
Structured
PTC,
ARM 
2.347%,
11/25/31 
860,000‌
764‌
3.71%,
9/25/32 
370,000‌
349‌
4.43%,
2/25/33 
285,000‌
279‌
1,794‌
U.S.
Government
Agency
Obligations
(Excluding
Mortgage-Backed) 6.7% 
U.S.
Treasury
Bonds,
1.125%,
5/15/40 
1,580,000‌
964‌
U.S.
Treasury
Bonds,
1.375%,
8/15/50 
1,150,000‌
533‌
U.S.
Treasury
Bonds,
1.875%,
2/15/51 
1,215,000‌
640‌
U.S.
Treasury
Bonds,
2.00%,
2/15/50 
2,490,000‌
1,377‌
U.S.
Treasury
Bonds,
2.00%,
8/15/51 
365,000‌
197‌
U.S.
Treasury
Bonds,
2.25%,
2/15/52 
2,245,000‌
1,281‌
U.S.
Treasury
Bonds,
2.50%,
2/15/45 
40,000‌
27‌
U.S.
Treasury
Bonds,
2.75%,
11/15/42 
65,000‌
47‌
U.S.
Treasury
Bonds,
2.75%,
8/15/47 (10)
4,285,000‌
2,891‌
U.S.
Treasury
Bonds,
3.00%,
2/15/47 
220,000‌
156‌
U.S.
Treasury
Bonds,
3.00%,
2/15/48 
740,000‌
520‌
U.S.
Treasury
Bonds,
3.00%,
8/15/48 
150,000‌
105‌
U.S.
Treasury
Bonds,
3.00%,
8/15/52 
800,000‌
539‌
U.S.
Treasury
Bonds,
3.125%,
11/15/41 
290,000‌
228‌
U.S.
Treasury
Bonds,
3.375%,
8/15/42 
220,000‌
177‌
T.
ROWE
PRICE
Global
Allocation
Fund
52
Shares/Par
$
Value
(Cost
and
value
in
$000s)
U.S.
Treasury
Bonds,
3.50%,
2/15/39 
400,000‌
350‌
U.S.
Treasury
Bonds,
3.625%,
8/15/43 
305,000‌
250‌
U.S.
Treasury
Bonds,
3.625%,
2/15/53 
80,000‌
61‌
U.S.
Treasury
Bonds,
3.625%,
5/15/53 
825,000‌
627‌
U.S.
Treasury
Bonds,
3.875%,
8/15/40 
2,025,000‌
1,791‌
U.S.
Treasury
Bonds,
3.875%,
2/15/43 
605,000‌
515‌
U.S.
Treasury
Bonds,
3.875%,
5/15/43 
105,000‌
89‌
U.S.
Treasury
Bonds,
4.00%,
11/15/52 
150,000‌
122‌
U.S.
Treasury
Bonds,
4.25%,
2/15/54 
360,000‌
306‌
U.S.
Treasury
Bonds,
4.25%,
8/15/54 
245,000‌
208‌
U.S.
Treasury
Bonds,
4.50%,
11/15/54 
270,000‌
239‌
U.S.
Treasury
Bonds,
4.625%,
11/15/45 
425,000‌
392‌
U.S.
Treasury
Bonds,
4.625%,
2/15/46 
185,000‌
170‌
U.S.
Treasury
Bonds,
4.625%,
5/15/54 
150,000‌
136‌
U.S.
Treasury
Bonds,
4.625%,
2/15/55 
190,000‌
172‌
U.S.
Treasury
Bonds,
4.625%,
11/15/55 (10)
200,000‌
181‌
U.S.
Treasury
Bonds,
4.75%,
11/15/43 
370,000‌
350‌
U.S.
Treasury
Bonds,
4.75%,
11/15/53 
640,000‌
590‌
U.S.
Treasury
Bonds,
4.75%,
5/15/55 
720,000‌
665‌
U.S.
Treasury
Bonds,
4.75%,
8/15/55 (10)
355,000‌
328‌
U.S.
Treasury
Bonds,
4.75%,
2/15/56 
725,000‌
670‌
U.S.
Treasury
Bonds,
5.00%,
5/15/45 
65,000‌
63‌
U.S.
Treasury
Inflation-Indexed
Bonds,
0.125%,
2/15/51 
53,805‌
27‌
U.S.
Treasury
Inflation-Indexed
Bonds,
0.25%,
2/15/50 
168,152‌
89‌
U.S.
Treasury
Inflation-Indexed
Bonds,
0.625%,
2/15/43 
312,951‌
219‌
U.S.
Treasury
Inflation-Indexed
Bonds,
0.75%,
2/15/42 
633,284‌
465‌
U.S.
Treasury
Inflation-Indexed
Bonds,
0.75%,
2/15/45 
170,777‌
116‌
U.S.
Treasury
Inflation-Indexed
Bonds,
0.875%,
2/15/47 
556,565‌
372‌
U.S.
Treasury
Inflation-Indexed
Bonds,
1.00%,
2/15/46 
335,060‌
235‌
U.S.
Treasury
Inflation-Indexed
Bonds,
1.00%,
2/15/48 
153,566‌
104‌
U.S.
Treasury
Inflation-Indexed
Bonds,
1.00%,
2/15/49 
166,473‌
111‌
U.S.
Treasury
Inflation-Indexed
Bonds,
1.375%,
2/15/44 
139,767‌
109‌
U.S.
Treasury
Inflation-Indexed
Bonds,
1.50%,
2/15/53 
557,499‌
400‌
U.S.
Treasury
Inflation-Indexed
Bonds,
2.125%,
2/15/41 
244,848‌
227‌
U.S.
Treasury
Inflation-Indexed
Bonds,
2.125%,
2/15/54 
445,734‌
369‌
U.S.
Treasury
Inflation-Indexed
Bonds,
2.375%,
2/15/55 
350,470‌
306‌
U.S.
Treasury
Inflation-Indexed
Bonds,
2.375%,
2/15/56 
72,384‌
63‌
U.S.
Treasury
Inflation-Indexed
Bonds,
3.375%,
4/15/32 
481,445‌
512‌
U.S.
Treasury
Inflation-Indexed
Bonds,
3.625%,
4/15/28 
683,757‌
697‌
U.S.
Treasury
Inflation-Indexed
Bonds,
3.875%,
4/15/29 
407,300‌
424‌
U.S.
Treasury
Inflation-Indexed
Notes,
0.125%,
4/15/27 
1,179,917‌
1,154‌
U.S.
Treasury
Inflation-Indexed
Notes,
0.125%,
1/15/30 
742,448‌
694‌
U.S.
Treasury
Inflation-Indexed
Notes,
0.125%,
7/15/30 
1,026,058‌
953‌
T.
ROWE
PRICE
Global
Allocation
Fund
53
Shares/Par
$
Value
(Cost
and
value
in
$000s)
U.S.
Treasury
Inflation-Indexed
Notes,
0.125%,
1/15/31 
1,737,950‌
1,594‌
U.S.
Treasury
Inflation-Indexed
Notes,
0.125%,
7/15/31 
1,006,540‌
916‌
U.S.
Treasury
Inflation-Indexed
Notes,
0.25%,
7/15/29 
772,977‌
734‌
U.S.
Treasury
Inflation-Indexed
Notes,
0.50%,
1/15/28 
217,378‌
211‌
U.S.
Treasury
Inflation-Indexed
Notes,
0.625%,
7/15/32 
1,181,563‌
1,084‌
U.S.
Treasury
Inflation-Indexed
Notes,
0.75%,
7/15/28 
154,333‌
150‌
U.S.
Treasury
Inflation-Indexed
Notes,
0.875%,
1/15/29 
374,539‌
363‌
U.S.
Treasury
Inflation-Indexed
Notes,
1.125%,
10/15/30 
1,248,416‌
1,203‌
U.S.
Treasury
Inflation-Indexed
Notes,
1.25%,
4/15/28 
880,520‌
863‌
U.S.
Treasury
Inflation-Indexed
Notes,
1.25%,
4/15/31 
1,367,360‌
1,313‌
U.S.
Treasury
Inflation-Indexed
Notes,
1.375%,
7/15/33 
783,442‌
742‌
U.S.
Treasury
Inflation-Indexed
Notes,
1.625%,
10/15/29 
1,517,696‌
1,498‌
U.S.
Treasury
Inflation-Indexed
Notes,
1.625%,
4/15/30 
1,626,514‌
1,595‌
U.S.
Treasury
Inflation-Indexed
Notes,
1.75%,
1/15/34 
1,980,603‌
1,910‌
U.S.
Treasury
Inflation-Indexed
Notes,
1.875%,
7/15/34 
881,108‌
856‌
U.S.
Treasury
Inflation-Indexed
Notes,
1.875%,
7/15/35 
850,599‌
818‌
U.S.
Treasury
Inflation-Indexed
Notes,
1.875%,
1/15/36 (10)
912,745‌
870‌
U.S.
Treasury
Inflation-Indexed
Notes,
2.125%,
4/15/29 
2,738,662‌
2,730‌
U.S.
Treasury
Inflation-Indexed
Notes,
2.125%,
1/15/35 
557,498‌
548‌
U.S.
Treasury
Inflation-Indexed
Notes,
2.375%,
10/15/28 
3,020,975‌
3,038‌
U.S.
Treasury
Inflation-Indexed
Notes,
2.375%,
7/15/36 
391,346‌
389‌
U.S.
Treasury
Notes,
0.625%,
8/15/30 
825,000‌
711‌
U.S.
Treasury
Notes,
1.625%,
8/15/29 (10)
1,450,000‌
1,340‌
U.S.
Treasury
Notes,
1.875%,
2/15/32 
365,000‌
319‌
U.S.
Treasury
Notes,
3.625%,
9/30/30 
45,000‌
44‌
U.S.
Treasury
Notes,
3.875%,
3/31/31 
125,000‌
122‌
U.S.
Treasury
Notes,
3.875%,
8/15/34 
750,000‌
712‌
U.S.
Treasury
Notes,
4.00%,
2/28/30 
150,000‌
148‌
U.S.
Treasury
Notes,
4.00%,
3/31/30 
245,000‌
242‌
U.S.
Treasury
Notes,
4.00%,
11/15/35 
165,000‌
156‌
U.S.
Treasury
Notes,
4.125%,
11/30/29 
355,000‌
352‌
U.S.
Treasury
Notes,
4.125%,
3/31/32 
370,000‌
364‌
U.S.
Treasury
Notes,
4.25%,
2/28/29 
490,000‌
489‌
U.S.
Treasury
Notes,
4.25%,
11/15/34 
1,005,000‌
978‌
U.S.
Treasury
Notes,
4.25%,
5/15/35 
835,000‌
810‌
U.S.
Treasury
Notes,
4.375%,
12/31/29 
350,000‌
350‌
U.S.
Treasury
Notes,
4.375%,
5/15/34 
150,000‌
148‌
U.S.
Treasury
Notes,
4.50%,
5/31/29 
650,000‌
653‌
U.S.
Treasury
Notes,
4.625%,
2/15/35 
440,000‌
439‌
57,405‌
Total
United
States
(Cost
$485,119)
635,561‌
T.
ROWE
PRICE
Global
Allocation
Fund
54
Shares/Par
$
Value
(Cost
and
value
in
$000s)
UZBEKISTAN 0.0%
Common
Stocks 0.0% 
National
Investment
Fund
of
the
Republic
of
Uzbekistan,
GDR
(USD) (2)
2,028‌
66‌
Total
Uzbekistan
(Cost
$51)
66‌
VIETNAM 0.2%
Common
Stocks 0.2% 
Asia
Commercial
Bank 
386,828‌
322‌
Bank
for
Foreign
Trade
of
Vietnam 
25,118‌
56‌
Binh
Minh
Plastics 
14,200‌
83‌
FPT
Digital
Retail (2)
31,377‌
148‌
Gemadept
27,800‌
81‌
Ho
Chi
Minh
City
Development
Joint
Stock
Commercial
Bank (2)
19,406‌
18‌
Hoa
Phat
Group 
572,450‌
472‌
Khang
Dien
House
Trading
&
Investment (2)
107,783‌
71‌
Military
Commercial
Joint
Stock
Bank 
240,842‌
206‌
Mobile
World
Investment 
86,500‌
229‌
Nam
Long
Investment 
71,009‌
60‌
Phu
Nhuan
Jewelry 
132,680‌
156‌
Techcom
Securities 
23,480‌
37‌
Vietnam
Prosperity
Bank 
47,700‌
45‌
Total
Vietnam
(Cost
$1,782)
1,984‌
SHORT-TERM
INVESTMENTS 2.4%
Money
Market
Funds 2.4%
T.
Rowe
Price
Government
Reserve
Fund,
3.72% (7)(11)
20,940,064‌
20,940‌
Total
Short-Term
Investments
(Cost
$20,940)
20,940‌
SECURITIES
LENDING
COLLATERAL 0.5%
INVESTMENTS
IN
A
POOLED
ACCOUNT
THROUGH
SECURITIES
LENDING
PROGRAM
WITH
JPMORGAN
CHASE
BANK 0.3%
Money
Market
Funds 0.3%
T.
Rowe
Price
Treasury
Reserve
Fund,
3.70% (7)(11)
2,817,746‌
2,818‌
Total
Investments
in
a
Pooled
Account
through
Securities
Lending
Program
with
JPMorgan
Chase
Bank
2,818‌
T.
ROWE
PRICE
Global
Allocation
Fund
55
Shares/Par
$
Value
(Cost
and
value
in
$000s)
INVESTMENTS
IN
A
POOLED
ACCOUNT
THROUGH
SECURITIES
LENDING
PROGRAM
WITH
STATE
STREET
BANK
AND
TRUST
COMPANY 0.2%
Money
Market
Funds 0.2%
T.
Rowe
Price
Treasury
Reserve
Fund,
3.70% (7)(11)
1,350,579‌
1,350‌
Total
Investments
in
a
Pooled
Account
through
Securities
Lending
Program
with
State
Street
Bank
and
Trust
Company
1,350‌
Total
Securities
Lending
Collateral
(Cost
$4,168)
4,168‌
(Amounts
in
000s,
except
for
contracts)
OPTIONS
PURCHASED 0.0%
OTC
Options
Purchased
0.0%
Counterparty
Description
Contracts
Notional
Amount
$
Value
Morgan
Stanley
S&P
500
Index,
Call,
9/18/26
@
$7,675.00 (2)
16‌
11,984‌
113‌
Total
Options
Purchased
(Cost
$75)
113‌
Total
Investments
in
Securities
 100.1%
(Cost
$639,507)
$
859,922‌
Other
Assets
Less
Liabilities
(0.1)%
(945)
Net
Assets
100.0%
$
858,977‌
‡
Country
classifications
are
generally
based
on
MSCI
categories
or
another
unaffiliated
third
party
data
provider;
Shares/Par
and
Notional
Amount
are
denominated
in
the
currency
of
the
country
presented
unless
otherwise
noted.
(1)
All
or
a
portion
of
this
security
is
on
loan
at
July
31,
2026.
(2)
Non-income
producing
(3)
Level
3
in
fair
value
hierarchy.
(4)
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
$3,825
and
represents
0.4%
of
net
assets.
T.
ROWE
PRICE
Global
Allocation
Fund
56
.
.
.
.
.
.
.
.
.
.
(5)
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
$17,510
and
represents
2.0%
of
net
assets.
(6)
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.
(7)
Affiliated
Companies
(8)
SEC
30-day
yield
(9)
Security
has
the
ability
to
pay
in-kind
or
pay
in
cash.
When
applicable,
separate
rates
of
such
payments
are
disclosed.
(10)
At
July
31,
2026,
all
or
a
portion
of
this
security
is
pledged
as
collateral
and/
or
margin
deposit
to
cover
future
funding
obligations.
(11)
Seven-day
yield
1M
CHF
LIBOR
One
month
CHF
LIBOR
(London
interbank
offered
rate)
1M
DKK
CIBOR
One
month
DKK
CIBOR
(Copenhagen
interbank
offered
rate)
1M
HKD
HIBOR
One
month
HKD
HIBOR
(Hong
Kong
interbank
offered
rate)
1M
NOK
NIBOR
One
month
NOK
NIBOR
(Norwegian
interbank
offered
rate)
1M
PLN
WIBOR
One
month
PLN
WIBOR
(Warsaw
interbank
offered
rate)
1M
SEK
STIBOR
One
month
SEK
STIBOR
(Stockholm
interbank
offered
rate)
1M
TSFR
One
month
term
SOFR
(Secured
overnight
financing
rate)
3M
TSFR
Three
month
term
SOFR
(Secured
overnight
financing
rate)
1M
ADBB
One
month
AUD
bank
bill
ADR
American
Depositary
Receipts
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. 
AUD
Australian
Dollar
CAD
Canadian
Dollar
CDI
CHESS
or
CREST
Depositary
Interest
CHF
Swiss
Franc
CLO
Collateralized
Loan
Obligation
CMO
Collateralized
Mortgage
Obligation
CNH
Offshore
China
Renminbi
CORRA
Canadian
Overnight
Repo
Rate
Average
CPI
Consumer
Price
Index
CVA
Dutch
Certificate
(
Certificaten
Van
Aandelen
)
DKK
Danish
Krone
ESTR
Euro
short-term
rate
ETF
Exchange-Traded
Fund
EUR
Euro
FRN
Floating
Rate
Note
T.
ROWE
PRICE
Global
Allocation
Fund
57
.
.
.
.
.
.
.
.
.
.
GBP
British
Pound
GDR
Global
Depositary
Receipts
GO
General
Obligation
HHEFA
Health
&
Higher
Educational
Facility
Authority
HKD
Hong
Kong
Dollar
JPY
Japanese
Yen
NOK
Norwegian
Krone
NVDR
Non-Voting
Depositary
Receipts
OTC
Over-the-counter
PIK
Payment-in-kind
PLN
Polish
Zloty
PTC
Pass-Through
Certificate
PTT
Pass-Through
Trust
REIT
A
domestic
Real
Estate
Investment
Trust
whose
distributions
pass-through
with
original
tax
character
to
the
shareholder
SARON
Swiss
Average
Rate
Overnight
SDR
Swedish
Depository
Receipts
SEK
Swedish
Krona
SOFR
Secured
overnight
financing
rate
SOFR30A
30-day
Average
SOFR
(Secured
overnight
financing
rate)
SONIA
Sterling
Overnight
Index
Average
STEP
Stepped
coupon
bond
for
which
the
coupon
rate
of
interest
adjusts
on
specified
date(s);
rate
shown
is
effective
rate
at
period-end.
TONA
Tokyo
overnight
average
rate
USD
U.S.
Dollar
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
Global
Allocation
Fund
58
(Amounts
in
000s,
except
for
contracts)
OPTIONS
WRITTEN
 (0.0)%
OTC
Options
Written (0.0)%
Counterparty
Description
Contracts
Notional
Amount
$
Value
Morgan
Stanley
S&P
500
Index,
Put,
9/18/26
@
$6,675.00
39
29,210
(85‌)
Wells
Fargo
iShares
iBoxx
USD
High
Yield
Corporate
Bond
ETF,
Call,
8/21/26
@
$80.00
1,223
9,720
(4‌)
Wells
Fargo
iShares
iBoxx
USD
High
Yield
Corporate
Bond
ETF,
Put,
8/21/26
@
$80.00
815
6,478
(78‌)
Total
Options
Written
(Premiums
$(212))
$
(167‌)
T.
ROWE
PRICE
Global
Allocation
Fund
59
.
.
.
.
.
.
.
.
.
.
(Amounts
in
000s)
SWAPS
0.0%
Description
Notional
Amount
$
Value
Upfront
Payments/
$
(Receipts)
**
Unrealized
$
Gain/(Loss)
BILATERAL
SWAPS
0.0%
Total
Return
Swaps
0.0%
Australia
(0.0)%
Goldman
Sachs,
Pay
Underlying
Reference:
Brambles
Monthly,
Receive
Variable
3.910%
(1M
ADBB
+
(0.40)%)
Monthly,
1/18/28
279
(8)
—
(8‌)
JPMorgan
Chase,
Receive
Underlying
Reference:
Suncorp
Group
Monthly,
Pay
Variable
4.710%
(1M
ADBB
+
0.40%)
Monthly,
1/18/28
348
4
—
4‌
Morgan
Stanley,
Pay
Underlying
Reference:
Medibank
Monthly,
Receive
Variable
3.910%
(1M
ADBB
+
(0.40)%)
Monthly,
1/18/28
155
(2)
—
(2‌)
Morgan
Stanley,
Pay
Underlying
Reference:
Wesfarmers
Monthly,
Receive
Variable
3.910%
(1M
ADBB
+
(0.40)%)
Monthly,
1/18/28
164
2
—
2‌
Morgan
Stanley,
Pay
Underlying
Reference:
Woolworths
Group
Monthly,
Receive
Variable
3.910%
(1M
ADBB
+
(0.40)%)
Monthly,
1/18/28
158
(1)
—
(1‌)
Morgan
Stanley,
Receive
Underlying
Reference:
Cochlear
Monthly,
Pay
Variable
4.860%
(1M
ADBB
+
0.55%)
Monthly,
1/18/28
301
(7)
—
(7‌)
Morgan
Stanley,
Receive
Underlying
Reference:
South32
Monthly,
Pay
Variable
4.900%
(1M
ADBB
+
0.55%)
Monthly,
1/18/28
566
6
—
6‌
UBS
Investment
Bank,
Pay
Underlying
Reference:
Fortescue
Monthly,
Receive
Variable
3.855%
(1M
ADBB
+
(0.45)%)
Monthly,
1/18/28
157
—
—
—‌
UBS
Investment
Bank,
Pay
Underlying
Reference:
National
Australia
Bank
Monthly,
Receive
Variable
3.855%
(1M
ADBB
+
(0.45)%)
Monthly,
1/18/28
128
(4)
—
(4‌)
UBS
Investment
Bank,
Pay
Underlying
Reference:
Westpac
Banking
Monthly,
Receive
Variable
3.855%
(1M
ADBB
+
(0.45)%)
Monthly,
1/18/28
228
(7)
—
(7‌)
T.
ROWE
PRICE
Global
Allocation
Fund
60
.
.
.
.
.
.
.
.
.
.
(Amounts
in
000s)
Description
Notional
Amount
$
Value
Upfront
Payments/
$
(Receipts)**
Unrealized
$
Gain/(Loss)
UBS
Investment
Bank,
Receive
Underlying
Reference:
ANZ
Group
Holdings
Monthly,
Pay
Variable
4.705%
(1M
ADBB
+
0.40%)
Monthly,
1/18/28
198
5
—
5‌
UBS
Investment
Bank,
Receive
Underlying
Reference:
Evolution
Mining
Monthly,
Pay
Variable
4.713%
(1M
ADBB
+
0.40%)
Monthly,
1/18/28
155
(2)
—
(2‌)
UBS
Investment
Bank,
Receive
Underlying
Reference:
Mirvac
Monthly,
Pay
Variable
4.705%
(1M
ADBB
+
0.40%)
Monthly,
1/18/28
125
5
—
5‌
Total
Australia
—
(9‌)
Belgium
(0.0)%
Citibank,
Pay
Underlying
Reference:
Lotus
Bakeries
Monthly,
Receive
Variable
1.886%
(EUR
ESTR
+
(0.30)%)
Monthly,
1/18/28
101
1
—
1‌
Goldman
Sachs,
Receive
Underlying
Reference:
UCB
Monthly,
Pay
Variable
2.586%
(EUR
ESTR
+
0.40%)
Monthly,
1/18/28
124
(8)
—
(8‌)
Total
Belgium
—
(7‌)
Bermuda
(0.0)%
Goldman
Sachs,
Receive
Underlying
Reference:
Axis
Capital
Holdings
Monthly,
Pay
Variable
3.927%
(SOFR
+
0.30%)
Monthly,
1/18/28
118
(6)
—
(6‌)
Total
Bermuda
—
(6‌)
Canada
0.0%
Citibank,
Pay
Underlying
Reference:
Agnico
Eagle
Mines
Monthly,
Receive
Variable
1.912%
(CORRA
+
(0.40)%)
Monthly,
1/18/28
151
1
—
1‌
Citibank,
Pay
Underlying
Reference:
FirstService
Monthly,
Receive
Variable
1.890%
(CORRA
+
(0.40)%)
Monthly,
1/18/28
400
5
—
5‌
Citibank,
Pay
Underlying
Reference:
Manulife
Financial
Monthly,
Receive
Variable
1.890%
(CORRA
+
(0.40)%)
Monthly,
1/18/28
550
(26)
—
(26‌)
T.
ROWE
PRICE
Global
Allocation
Fund
61
.
.
.
.
.
.
.
.
.
.
(Amounts
in
000s)
Description
Notional
Amount
$
Value
Upfront
Payments/
$
(Receipts)**
Unrealized
$
Gain/(Loss)
Citibank,
Receive
Underlying
Reference:
Franco-Nevada
Monthly,
Pay
Variable
2.740%
(CORRA
+
0.45%)
Monthly,
1/18/28
181
4
—
4‌
Citibank,
Receive
Underlying
Reference:
Royal
Bank
of
Canada
Monthly,
Pay
Variable
2.740%
(CORRA
+
0.45%)
Monthly,
1/18/28
414
3
—
3‌
Citibank,
Receive
Underlying
Reference:
TMX
Group
Monthly,
Pay
Variable
2.740%
(CORRA
+
0.45%)
Monthly,
1/18/28
304
12
—
12‌
Citibank,
Receive
Underlying
Reference:
Tourmaline
Oil
Monthly,
Pay
Variable
2.740%
(CORRA
+
0.45%)
Monthly,
1/18/28
141
(1)
—
(1‌)
Goldman
Sachs,
Pay
Underlying
Reference:
Bank
of
Montreal
Monthly,
Receive
Variable
1.988%
(CORRA
+
(0.30)%)
Monthly,
1/18/28
200
2
—
2‌
Goldman
Sachs,
Receive
Underlying
Reference:
Brookfield
Asset
Management,
Class
A
Monthly,
Pay
Variable
2.588%
(CORRA
+
0.30%)
Monthly,
1/18/28
153
(2)
—
(2‌)
Goldman
Sachs,
Receive
Underlying
Reference:
Element
Fleet
Management
Monthly,
Pay
Variable
2.588%
(CORRA
+
0.30%)
Monthly,
1/18/28
155
6
—
6‌
JPMorgan
Chase,
Pay
Underlying
Reference:
Sun
Life
Financial
Monthly,
Receive
Variable
1.788%
(CORRA
+
(0.50)%)
Monthly,
1/18/28
445
(5)
—
(5‌)
JPMorgan
Chase,
Receive
Underlying
Reference:
Canadian
Natural
Resources
Monthly,
Pay
Variable
2.688%
(CORRA
+
0.40%)
Monthly,
1/18/28
397
31
—
31‌
JPMorgan
Chase,
Receive
Underlying
Reference:
Thomson
Reuters
Monthly,
Pay
Variable
2.689%
(CORRA
+
0.40%)
Monthly,
1/18/28
149
4
—
4‌
Morgan
Stanley,
Pay
Underlying
Reference:
Bank
of
Nova
Monthly,
Receive
Variable
1.888%
(CORRA
+
(0.40)%)
Monthly,
1/18/28
175
4
—
4‌
T.
ROWE
PRICE
Global
Allocation
Fund
62
.
.
.
.
.
.
.
.
.
.
(Amounts
in
000s)
Description
Notional
Amount
$
Value
Upfront
Payments/
$
(Receipts)**
Unrealized
$
Gain/(Loss)
Morgan
Stanley,
Pay
Underlying
Reference:
Toronto-Dominion
Bank
Monthly,
Receive
Variable
1.888%
(CORRA
+
(0.40)%)
Monthly,
1/18/28
362
11
—
11‌
Total
Canada
—
49‌
Denmark
(0.0)%
JPMorgan
Chase,
Receive
Underlying
Reference:
Novonesis
Novozymes,
Class
B
Monthly,
Pay
Variable
2.600%
(1M
DKK
CIBOR
+
0.40%)
Monthly,
1/18/28
787
(1)
—
(1‌)
Total
Denmark
—
(1‌)
Finland
0.0%
Goldman
Sachs,
Pay
Underlying
Reference:
Elisa
Monthly,
Receive
Variable
1.916%
(EUR
ESTR
+
(0.27)%)
Monthly,
1/18/28
311
—
—
—‌
Goldman
Sachs,
Receive
Underlying
Reference:
Fortum
Monthly,
Pay
Variable
2.586%
(EUR
ESTR
+
0.40%)
Monthly,
1/18/28
174
(1)
—
(1‌)
Goldman
Sachs,
Receive
Underlying
Reference:
Sampo,
Class
A
Monthly,
Pay
Variable
2.586%
(EUR
ESTR
+
0.40%)
Monthly,
1/18/28
89
1
—
1‌
Goldman
Sachs,
Receive
Underlying
Reference:
Stora
Enso,
Class
R
Monthly,
Pay
Variable
2.586%
(EUR
ESTR
+
0.40%)
Monthly,
1/18/28
185
12
—
12‌
Morgan
Stanley,
Pay
Underlying
Reference:
Metso
Monthly,
Receive
Variable
1.835%
(EUR
ESTR
+
(0.35)%)
Monthly,
1/18/28
99
3
—
3‌
Morgan
Stanley,
Pay
Underlying
Reference:
Wartsila
Monthly,
Receive
Variable
1.835%
(EUR
ESTR
+
(0.35)%)
Monthly,
1/18/28
93
4
—
4‌
Total
Finland
—
19‌
France
(0.0)%
Citibank,
Pay
Underlying
Reference:
EssilorLuxottica
Monthly,
Receive
Variable
1.886%
(EUR
ESTR
+
(0.30)%)
Monthly,
1/18/28
81
3
—
3‌
T.
ROWE
PRICE
Global
Allocation
Fund
63
.
.
.
.
.
.
.
.
.
.
(Amounts
in
000s)
Description
Notional
Amount
$
Value
Upfront
Payments/
$
(Receipts)**
Unrealized
$
Gain/(Loss)
Citibank,
Receive
Underlying
Reference:
Thales
Monthly,
Pay
Variable
2.586%
(EUR
ESTR
+
0.40%)
Monthly,
1/18/28
78
5
—
5‌
Goldman
Sachs,
Pay
Underlying
Reference:
Sanofi
Monthly,
Receive
Variable
1.916%
(EUR
ESTR
+
(0.27)%)
Monthly,
1/18/28
185
5
—
5‌
Goldman
Sachs,
Receive
Underlying
Reference:
Accor
Monthly,
Pay
Variable
2.586%
(EUR
ESTR
+
0.40%)
Monthly,
1/18/28
147
(10)
—
(10‌)
Goldman
Sachs,
Receive
Underlying
Reference:
LVMH
Moet
Hennessy
Louis
Vuitton
Monthly,
Pay
Variable
2.586%
(EUR
ESTR
+
0.40%)
Monthly,
1/18/28
96
(5)
—
(5‌)
Goldman
Sachs,
Receive
Underlying
Reference:
Orange
Monthly,
Pay
Variable
2.586%
(EUR
ESTR
+
0.40%)
Monthly,
1/18/28
138
3
—
3‌
Goldman
Sachs,
Receive
Underlying
Reference:
Safran
Monthly,
Pay
Variable
2.586%
(EUR
ESTR
+
0.40%)
Monthly,
1/18/28
131
3
—
3‌
Goldman
Sachs,
Receive
Underlying
Reference:
Vinci
Monthly,
Pay
Variable
2.586%
(EUR
ESTR
+
0.40%)
Monthly,
1/18/28
160
4
—
4‌
Morgan
Stanley,
Pay
Underlying
Reference:
AXA
Monthly,
Receive
Variable
1.836%
(EUR
ESTR
+
(0.35)%)
Monthly,
1/18/28
405
(10)
—
(10‌)
Morgan
Stanley,
Pay
Underlying
Reference:
Dassault
Systemes
Monthly,
Receive
Variable
1.836%
(EUR
ESTR
+
(0.35)%)
Monthly,
1/18/28
83
(11)
—
(11‌)
Morgan
Stanley,
Pay
Underlying
Reference:
Dassault
Systemes
Monthly,
Receive
Variable
1.836%
(EUR
ESTR
+
(0.35)%)
Monthly,
1/18/28
92
(9)
—
(9‌)
Morgan
Stanley,
Pay
Underlying
Reference:
Legrand
Monthly,
Receive
Variable
1.835%
(EUR
ESTR
+
(0.35)%)
Monthly,
1/18/28
113
2
—
2‌
T.
ROWE
PRICE
Global
Allocation
Fund
64
.
.
.
.
.
.
.
.
.
.
(Amounts
in
000s)
Description
Notional
Amount
$
Value
Upfront
Payments/
$
(Receipts)**
Unrealized
$
Gain/(Loss)
Morgan
Stanley,
Receive
Underlying
Reference:
Schneider
Electric
Monthly,
Pay
Variable
2.535%
(EUR
ESTR
+
0.35%)
Monthly,
1/18/28
213
18
—
18‌
Total
France
—
(2‌)
Germany
(0.0)%
Citibank,
Receive
Underlying
Reference:
Heidelberg
Materials
Monthly,
Pay
Variable
2.586%
(EUR
ESTR
+
0.40%)
Monthly,
1/18/28
85
(3)
—
(3‌)
Goldman
Sachs,
Pay
Underlying
Reference:
Dr
Ing
hc
F
Porsche
Monthly,
Receive
Variable
(3.814)%
(EUR
ESTR
+
(6.00)%)
Monthly,
1/18/28
95
5
—
5‌
Goldman
Sachs,
Pay
Underlying
Reference:
Vonovia
Monthly,
Receive
Variable
1.916%
(EUR
ESTR
+
(0.27)%)
Monthly,
1/18/28
88
1
—
1‌
Goldman
Sachs,
Receive
Underlying
Reference:
adidas
Monthly,
Pay
Variable
2.586%
(EUR
ESTR
+
0.40%)
Monthly,
1/18/28
106
(16)
—
(16‌)
Goldman
Sachs,
Receive
Underlying
Reference:
Allianz
Monthly,
Pay
Variable
2.586%
(EUR
ESTR
+
0.40%)
Monthly,
1/18/28
166
7
—
7‌
Goldman
Sachs,
Receive
Underlying
Reference:
BASF
Monthly,
Pay
Variable
2.586%
(EUR
ESTR
+
0.40%)
Monthly,
1/18/28
91
5
—
5‌
Goldman
Sachs,
Receive
Underlying
Reference:
Hensoldt
Monthly,
Pay
Variable
2.586%
(EUR
ESTR
+
0.40%)
Monthly,
1/18/28
87
8
—
8‌
JPMorgan
Chase,
Receive
Underlying
Reference:
Scout24
Monthly,
Pay
Variable
2.536%
(EUR
ESTR
+
0.35%)
Monthly,
1/18/28
187
(1)
—
(1‌)
Morgan
Stanley,
Receive
Underlying
Reference:
Hannover
Rueck
Monthly,
Pay
Variable
2.536%
(EUR
ESTR
+
0.35%)
Monthly,
1/18/28
273
—
—
—‌
T.
ROWE
PRICE
Global
Allocation
Fund
65
.
.
.
.
.
.
.
.
.
.
(Amounts
in
000s)
Description
Notional
Amount
$
Value
Upfront
Payments/
$
(Receipts)**
Unrealized
$
Gain/(Loss)
Morgan
Stanley,
Receive
Underlying
Reference:
Innio
Monthly,
Pay
Variable
3.927%
(SOFR
+
0.30%)
Monthly,
1/18/28
76
(15)
—
(15‌)
Total
Germany
—
(9‌)
Hong
Kong
0.0%
Goldman
Sachs,
Receive
Underlying
Reference:
AIA
Group
Monthly,
Pay
Variable
3.150%
(1M
HKD
HIBOR
+
0.40%)
Monthly,
1/18/28
853
4
—
4‌
Total
Hong
Kong
—
4‌
Ireland
0.0%
Citibank,
Pay
Underlying
Reference:
Pentair
Monthly,
Receive
Variable
3.314%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
137
15
—
15‌
Citibank,
Pay
Underlying
Reference:
Pentair
Monthly,
Receive
Variable
3.335%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
52
(2)
—
(2‌)
Citibank,
Receive
Underlying
Reference:
Aon,
Class
A
Monthly,
Pay
Variable
4.034%
(SOFR
+
0.42%)
Monthly,
1/18/28
110
1
—
1‌
Citibank,
Receive
Underlying
Reference:
Linde
Monthly,
Pay
Variable
4.034%
(SOFR
+
0.42%)
Monthly,
1/18/28
302
(29)
—
(29‌)
Goldman
Sachs,
Receive
Underlying
Reference:
Johnson
Controls
International
Monthly,
Pay
Variable
3.950%
(SOFR
+
0.30%)
Monthly,
1/18/28
146
—
—
—‌
Goldman
Sachs,
Receive
Underlying
Reference:
Kingspan
Group
Monthly,
Pay
Variable
2.586%
(EUR
ESTR
+
0.40%)
Monthly,
1/18/28
179
6
—
6‌
Goldman
Sachs,
Receive
Underlying
Reference:
Willis
Towers
Watson
Monthly,
Pay
Variable
3.927%
(SOFR
+
0.30%)
Monthly,
1/18/28
99
17
—
17‌
T.
ROWE
PRICE
Global
Allocation
Fund
66
.
.
.
.
.
.
.
.
.
.
(Amounts
in
000s)
Description
Notional
Amount
$
Value
Upfront
Payments/
$
(Receipts)**
Unrealized
$
Gain/(Loss)
Morgan
Stanley,
Receive
Underlying
Reference:
Eaton
Monthly,
Pay
Variable
3.927%
(SOFR
+
0.30%)
Monthly,
1/18/28
109
—
—
—‌
Total
Ireland
—
8‌
Italy
(0.0)%
Goldman
Sachs,
Pay
Underlying
Reference:
Intesa
Sanpaolo
Monthly,
Receive
Variable
1.916%
(EUR
ESTR
+
(0.27)%)
Monthly,
1/18/28
544
(19)
—
(19‌)
Goldman
Sachs,
Receive
Underlying
Reference:
UniCredit
Monthly,
Pay
Variable
2.586%
(EUR
ESTR
+
0.40%)
Monthly,
1/18/28
208
1
—
1‌
JPMorgan
Chase,
Receive
Underlying
Reference:
Enel
Monthly,
Pay
Variable
2.536%
(EUR
ESTR
+
0.35%)
Monthly,
1/18/28
53
(2)
—
(2‌)
Morgan
Stanley,
Pay
Underlying
Reference:
Banca
Mediolanum
Monthly,
Receive
Variable
1.836%
(EUR
ESTR
+
(0.35)%)
Monthly,
1/18/28
98
(3)
—
(3‌)
Morgan
Stanley,
Receive
Underlying
Reference:
Enel
Monthly,
Pay
Variable
2.536%
(EUR
ESTR
+
0.35%)
Monthly,
1/18/28
290
(13)
—
(13‌)
UBS
Investment
Bank,
Receive
Underlying
Reference:
Generali
Monthly,
Pay
Variable
2.536%
(EUR
ESTR
+
0.35%)
Monthly,
1/18/28
116
6
—
6‌
Total
Italy
—
(30‌)
Japan
0.1%
Goldman
Sachs,
Pay
Underlying
Reference:
Pan
Pacific
International
Holdings
Monthly,
Receive
Variable
1.178%
(JPY
TONA
+
0.20%)
Monthly,
1/18/28
55,888
(18)
—
(18‌)
Goldman
Sachs,
Pay
Underlying
Reference:
Shin-Etsu
Chemical
Monthly,
Receive
Variable
1.178%
(JPY
TONA
+
0.20%)
Monthly,
1/18/28
69,979
108
—
108‌
T.
ROWE
PRICE
Global
Allocation
Fund
67
.
.
.
.
.
.
.
.
.
.
(Amounts
in
000s)
Description
Notional
Amount
$
Value
Upfront
Payments/
$
(Receipts)**
Unrealized
$
Gain/(Loss)
Goldman
Sachs,
Receive
Underlying
Reference:
Komatsu
Monthly,
Pay
Variable
1.348%
(JPY
TONA
+
0.37%)
Monthly,
1/18/28
15,408
9
—
9‌
JPMorgan
Chase,
Receive
Underlying
Reference:
Recruit
Holdings
Monthly,
Pay
Variable
1.328%
(JPY
TONA
+
0.35%)
Monthly,
1/18/28
15,096
—
—
—‌
Morgan
Stanley,
Pay
Underlying
Reference:
FUJIFILM
Holdings
Monthly,
Receive
Variable
0.558%
(JPY
TONA
+
(0.42)%)
Monthly,
1/18/28
16,295
(4)
—
(4‌)
Morgan
Stanley,
Pay
Underlying
Reference:
Japan
Post
Bank
Monthly,
Receive
Variable
0.558%
(JPY
TONA
+
(0.42)%)
Monthly,
1/18/28
36,850
17
—
17‌
Morgan
Stanley,
Pay
Underlying
Reference:
Lasertec
Monthly,
Receive
Variable
0.558%
(JPY
TONA
+
(0.42)%)
Monthly,
1/18/28
16,626
9
—
9‌
Morgan
Stanley,
Pay
Underlying
Reference:
Mitsubishi
Monthly,
Receive
Variable
0.558%
(JPY
TONA
+
(0.42)%)
Monthly,
1/18/28
16,506
(4)
—
(4‌)
Morgan
Stanley,
Pay
Underlying
Reference:
NTT
Monthly,
Receive
Variable
0.558%
(JPY
TONA
+
(0.42)%)
Monthly,
1/18/28
16,980
(2)
—
(2‌)
Morgan
Stanley,
Pay
Underlying
Reference:
Shionogi
Monthly,
Receive
Variable
0.558%
(JPY
TONA
+
(0.42)%)
Monthly,
1/18/28
16,478
(2)
—
(2‌)
Morgan
Stanley,
Pay
Underlying
Reference:
Sompo
Holdings
Monthly,
Receive
Variable
0.558%
(JPY
TONA
+
(0.42)%)
Monthly,
1/18/28
51,769
(23)
—
(23‌)
Morgan
Stanley,
Pay
Underlying
Reference:
Suntory
Beverage
&
Food
Monthly,
Receive
Variable
0.558%
(JPY
TONA
+
(0.42)%)
Monthly,
1/18/28
14,912
—
—
—‌
Morgan
Stanley,
Receive
Underlying
Reference:
Advantest
Monthly,
Pay
Variable
1.508%
(JPY
TONA
+
0.53%)
Monthly,
1/18/28
22,057
4
—
4‌
T.
ROWE
PRICE
Global
Allocation
Fund
68
.
.
.
.
.
.
.
.
.
.
(Amounts
in
000s)
Description
Notional
Amount
$
Value
Upfront
Payments/
$
(Receipts)**
Unrealized
$
Gain/(Loss)
Morgan
Stanley,
Receive
Underlying
Reference:
Chugai
Pharmaceutical
Monthly,
Pay
Variable
1.508%
(JPY
TONA
+
0.53%)
Monthly,
1/18/28
13,543
(2)
—
(2‌)
Morgan
Stanley,
Receive
Underlying
Reference:
East
Japan
Railway
Monthly,
Pay
Variable
1.508%
(JPY
TONA
+
0.53%)
Monthly,
1/18/28
17,542
3
—
3‌
Morgan
Stanley,
Receive
Underlying
Reference:
Food
&
Life
Monthly,
Pay
Variable
1.508%
(JPY
TONA
+
0.53%)
Monthly,
1/18/28
17,697
8
—
8‌
Morgan
Stanley,
Receive
Underlying
Reference:
JFE
Holdings
Monthly,
Pay
Variable
1.508%
(JPY
TONA
+
0.53%)
Monthly,
1/18/28
17,965
9
—
9‌
Morgan
Stanley,
Receive
Underlying
Reference:
KDDI
Monthly,
Pay
Variable
1.508%
(JPY
TONA
+
0.53%)
Monthly,
1/18/28
17,400
3
—
3‌
Morgan
Stanley,
Receive
Underlying
Reference:
Keyence
Monthly,
Pay
Variable
1.508%
(JPY
TONA
+
0.53%)
Monthly,
1/18/28
30,648
11
—
11‌
Morgan
Stanley,
Receive
Underlying
Reference:
Mitsui
Fudosan
Monthly,
Pay
Variable
1.508%
(JPY
TONA
+
0.53%)
Monthly,
1/18/28
21,134
—
—
—‌
Morgan
Stanley,
Receive
Underlying
Reference:
Murata
Manufacturing
Monthly,
Pay
Variable
1.508%
(JPY
TONA
+
0.53%)
Monthly,
1/18/28
28,210
(33)
—
(33‌)
Morgan
Stanley,
Receive
Underlying
Reference:
Nippon
Steel
Monthly,
Pay
Variable
1.508%
(JPY
TONA
+
0.53%)
Monthly,
1/18/28
16,080
13
—
13‌
Morgan
Stanley,
Receive
Underlying
Reference:
ORIX
Monthly,
Pay
Variable
1.508%
(JPY
TONA
+
0.53%)
Monthly,
1/18/28
30,328
(5)
—
(5‌)
Morgan
Stanley,
Receive
Underlying
Reference:
Ryohin
Keikaku
Monthly,
Pay
Variable
1.508%
(JPY
TONA
+
0.53%)
Monthly,
1/18/28
19,164
—
—
—‌
T.
ROWE
PRICE
Global
Allocation
Fund
69
.
.
.
.
.
.
.
.
.
.
(Amounts
in
000s)
Description
Notional
Amount
$
Value
Upfront
Payments/
$
(Receipts)**
Unrealized
$
Gain/(Loss)
Morgan
Stanley,
Receive
Underlying
Reference:
Sumitomo
Electric
Industries
Monthly,
Pay
Variable
1.508%
(JPY
TONA
+
0.53%)
Monthly,
1/18/28
17,218
(15)
—
(15‌)
Morgan
Stanley,
Receive
Underlying
Reference:
Sumitomo
Mitsui
Financial
Group
Monthly,
Pay
Variable
1.508%
(JPY
TONA
+
0.53%)
Monthly,
1/18/28
90,437
(25)
—
(25‌)
Morgan
Stanley,
Receive
Underlying
Reference:
Taiheiyo
Cement
Monthly,
Pay
Variable
1.508%
(JPY
TONA
+
0.53%)
Monthly,
1/18/28
15,936
2
—
2‌
Morgan
Stanley,
Receive
Underlying
Reference:
Takeda
Pharmaceutical
Monthly,
Pay
Variable
1.508%
(JPY
TONA
+
0.53%)
Monthly,
1/18/28
29,084
8
—
8‌
Morgan
Stanley,
Receive
Underlying
Reference:
Terumo
Monthly,
Pay
Variable
1.508%
(JPY
TONA
+
0.53%)
Monthly,
1/18/28
37,269
15
—
15‌
Morgan
Stanley,
Receive
Underlying
Reference:
Tokio
Marine
Holdings
Monthly,
Pay
Variable
1.508%
(JPY
TONA
+
0.53%)
Monthly,
1/18/28
31,088
8
—
8‌
Morgan
Stanley,
Receive
Underlying
Reference:
Zensho
Holdings
Monthly,
Pay
Variable
1.508%
(JPY
TONA
+
0.53%)
Monthly,
1/18/28
17,167
11
—
11‌
UBS
Investment
Bank,
Pay
Underlying
Reference:
Otsuka
Holdings
Monthly,
Receive
Variable
0.578%
(JPY
TONA
+
(0.40)%)
Monthly,
1/18/28
16,740
1
—
1‌
UBS
Investment
Bank,
Pay
Underlying
Reference:
Sumitomo
Realty
&
Development
Monthly,
Receive
Variable
0.578%
(JPY
TONA
+
(0.40)%)
Monthly,
1/18/28
55,411
22
—
22‌
UBS
Investment
Bank,
Pay
Underlying
Reference:
TDK
Monthly,
Receive
Variable
0.580%
(JPY
TONA
+
(0.40)%)
Monthly,
1/18/28
19,095
1
—
1‌
UBS
Investment
Bank,
Receive
Underlying
Reference:
Ajinomoto
Monthly,
Pay
Variable
1.328%
(JPY
TONA
+
0.35%)
Monthly,
1/18/28
20,527
(17)
—
(17‌)
T.
ROWE
PRICE
Global
Allocation
Fund
70
.
.
.
.
.
.
.
.
.
.
(Amounts
in
000s)
Description
Notional
Amount
$
Value
Upfront
Payments/
$
(Receipts)**
Unrealized
$
Gain/(Loss)
UBS
Investment
Bank,
Receive
Underlying
Reference:
Daiichi
Sankyo
Monthly,
Pay
Variable
1.328%
(JPY
TONA
+
0.35%)
Monthly,
1/18/28
14,672
(5)
—
(5‌)
UBS
Investment
Bank,
Receive
Underlying
Reference:
Eisai
Monthly,
Pay
Variable
1.328%
(JPY
TONA
+
0.35%)
Monthly,
1/18/28
26,340
19
—
19‌
UBS
Investment
Bank,
Receive
Underlying
Reference:
Recruit
Holdings
Monthly,
Pay
Variable
1.328%
(JPY
TONA
+
0.35%)
Monthly,
1/18/28
13,398
3
—
3‌
UBS
Investment
Bank,
Receive
Underlying
Reference:
Sumitomo
Mitsui
Trust
Group
Monthly,
Pay
Variable
1.328%
(JPY
TONA
+
0.35%)
Monthly,
1/18/28
19,079
1
—
1‌
UBS
Investment
Bank,
Receive
Underlying
Reference:
Timee
Monthly,
Pay
Variable
1.328%
(JPY
TONA
+
0.35%)
Monthly,
1/18/28
21,490
(14)
—
(14‌)
Total
Japan
—
116‌
Jersey
0.0%
Goldman
Sachs,
Receive
Underlying
Reference:
Glencore
Monthly,
Pay
Variable
4.113%
(GBP
SONIA
+
0.38%)
Monthly,
1/18/28
77
5
—
5‌
Total
Jersey
—
5‌
Luxembourg
0.0%
Morgan
Stanley,
Receive
Underlying
Reference:
Allegro.eu
Monthly,
Pay
Variable
4.970%
(1M
PLN
WIBOR
+
1.15%)
Monthly,
1/18/28
(PLN)
666
2
—
2‌
Total
Luxembourg
—
2‌
Netherlands
(0.0)%
Bank
of
America,
Receive
Underlying
Reference:
Airbus
Monthly,
Pay
Variable
2.536%
(EUR
ESTR
+
0.35%)
Monthly,
1/18/28
84
3
—
3‌
Citibank,
Receive
Underlying
Reference:
Ferrari
Monthly,
Pay
Variable
2.586%
(EUR
ESTR
+
0.40%)
Monthly,
1/18/28
99
4
—
4‌
T.
ROWE
PRICE
Global
Allocation
Fund
71
.
.
.
.
.
.
.
.
.
.
(Amounts
in
000s)
Description
Notional
Amount
$
Value
Upfront
Payments/
$
(Receipts)**
Unrealized
$
Gain/(Loss)
Goldman
Sachs,
Pay
Underlying
Reference:
Ferrovial
Monthly,
Receive
Variable
1.916%
(EUR
ESTR
+
(0.27)%)
Monthly,
1/18/28
99
(2)
—
(2‌)
Goldman
Sachs,
Receive
Underlying
Reference:
Euronext
Monthly,
Pay
Variable
2.586%
(EUR
ESTR
+
0.40%)
Monthly,
1/18/28
146
9
—
9‌
Morgan
Stanley,
Pay
Underlying
Reference:
CSG
Monthly,
Receive
Variable
1.311%
(EUR
ESTR
+
(0.875)%)
Monthly,
1/18/28
115
(27)
—
(27‌)
Total
Netherlands
—
(13‌)
Netherlands
Antilles
0.0%
Citibank,
Receive
Underlying
Reference:
SLB
Monthly,
Pay
Variable
4.034%
(SOFR
+
0.42%)
Monthly,
1/18/28
51
2
—
2‌
Total
Netherlands
Antilles
—
2‌
Norway
0.0%
Goldman
Sachs,
Receive
Underlying
Reference:
Aker
BP
Monthly,
Pay
Variable
4.690%
(1M
NOK
NIBOR
+
0.35%)
Monthly,
1/18/28
1,206
5
—
5‌
Morgan
Stanley,
Receive
Underlying
Reference:
Equinor
Monthly,
Pay
Variable
4.690%
(1M
NOK
NIBOR
+
0.35%)
Monthly,
1/18/28
3,410
38
—
38‌
Total
Norway
—
43‌
Portugal
0.0%
Goldman
Sachs,
Receive
Underlying
Reference:
Banco
Comercial
Portugues
,
Class
R
Monthly,
Pay
Variable
2.586%
(EUR
ESTR
+
0.40%)
Monthly,
1/18/28
112
2
—
2‌
Total
Portugal
—
2‌
Singapore
(0.0)%
JPMorgan
Chase,
Receive
Underlying
Reference:
Flex
Monthly,
Pay
Variable
3.927%
(SOFR
+
0.30%)
Monthly,
1/18/28
86
(10)
—
(10‌)
Total
Singapore
—
(10‌)
T.
ROWE
PRICE
Global
Allocation
Fund
72
.
.
.
.
.
.
.
.
.
.
(Amounts
in
000s)
Description
Notional
Amount
$
Value
Upfront
Payments/
$
(Receipts)**
Unrealized
$
Gain/(Loss)
Spain
0.0%
Goldman
Sachs,
Receive
Underlying
Reference:
Aena
SME
Monthly,
Pay
Variable
2.586%
(EUR
ESTR
+
0.40%)
Monthly,
1/18/28
180
5
—
5‌
Goldman
Sachs,
Receive
Underlying
Reference:
CaixaBank
Monthly,
Pay
Variable
2.586%
(EUR
ESTR
+
0.40%)
Monthly,
1/18/28
218
4
—
4‌
Morgan
Stanley,
Pay
Underlying
Reference:
Banco
Santander
Monthly,
Receive
Variable
1.836%
(EUR
ESTR
+
(0.35)%)
Monthly,
1/18/28
255
(8)
—
(8‌)
Total
Spain
—
1‌
Sweden
0.0%
Citibank,
Pay
Underlying
Reference:
Boliden
Monthly,
Receive
Variable
1.539%
(1M
SEK
STIBOR
+
(0.35)%)
Monthly,
1/18/28
1,062
2
—
2‌
Citibank,
Pay
Underlying
Reference:
EQT
Monthly,
Receive
Variable
1.522%
(1M
SEK
STIBOR
+
(0.35)%)
Monthly,
1/18/28
815
(17)
—
(17‌)
Citibank,
Pay
Underlying
Reference:
H
&
M
Hennes
&
Mauritz,
Class
B
Monthly,
Receive
Variable
1.122%
(1M
SEK
STIBOR
+
(0.75)%)
Monthly,
1/18/28
975
(9)
—
(9‌)
Citibank,
Receive
Underlying
Reference:
Swedbank,
Class
A
Monthly,
Pay
Variable
2.222%
(1M
SEK
STIBOR
+
0.35%)
Monthly,
1/18/28
4,944
25
—
25‌
Total
Sweden
—
1‌
Switzerland
(0.0)%
Citibank,
Pay
Underlying
Reference:
Givaudan
Monthly,
Receive
Variable
(0.461)%
(1M
CHF
LIBOR
+
(0.42)%)
Monthly,
1/18/28
168
12
—
12‌
Citibank,
Pay
Underlying
Reference:
Partners
Group
Holding
Monthly,
Receive
Variable
(1.041)%
(1M
CHF
LIBOR
+
(1.00)%)
Monthly,
1/18/28
224
(4)
—
(4‌)
T.
ROWE
PRICE
Global
Allocation
Fund
73
.
.
.
.
.
.
.
.
.
.
(Amounts
in
000s)
Description
Notional
Amount
$
Value
Upfront
Payments/
$
(Receipts)**
Unrealized
$
Gain/(Loss)
Citibank,
Receive
Underlying
Reference:
DSM-
Firmenich
Monthly,
Pay
Variable
2.586%
(EUR
ESTR
+
0.40%)
Monthly,
1/18/28
(EUR)
112
15
—
15‌
Goldman
Sachs,
Pay
Underlying
Reference:
Novartis
Monthly,
Receive
Variable
(0.451)%
(SARON
+
(0.41)%)
Monthly,
1/18/28
84
(4)
—
(4‌)
Goldman
Sachs,
Receive
Underlying
Reference:
Cie
Financiere
Richemont,
Class
A
Monthly,
Pay
Variable
0.249%
(SARON
+
0.29%)
Monthly,
1/18/28
130
(4)
—
(4‌)
Goldman
Sachs,
Receive
Underlying
Reference:
Holcim
Monthly,
Pay
Variable
0.249%
(1M
CHF
LIBOR
+
0.29%)
Monthly,
1/18/28
85
(4)
—
(4‌)
Goldman
Sachs,
Receive
Underlying
Reference:
UBS
Group
Monthly,
Pay
Variable
0.249%
(SARON
+
0.29%)
Monthly,
1/18/28
120
(6)
—
(6‌)
Morgan
Stanley,
Pay
Underlying
Reference:
Alcon
Monthly,
Receive
Variable
(0.451)%
(SARON
+
(0.41)%)
Monthly,
1/18/28
89
—
—
—‌
Morgan
Stanley,
Pay
Underlying
Reference:
Roche
Holding
Monthly,
Receive
Variable
(0.451)%
(1M
CHF
LIBOR
+
(0.41)%)
Monthly,
1/18/28
107
(9)
—
(9‌)
Total
Switzerland
—
(4‌)
United
Kingdom
0.0%
Citibank,
Pay
Underlying
Reference:
Anglo
American
Monthly,
Receive
Variable
3.424%
(GBP
SONIA
+
(0.31)%)
Monthly,
1/18/28
169
(7)
—
(7‌)
Citibank,
Receive
Underlying
Reference:
Aviva
Monthly,
Pay
Variable
4.125%
(GBP
SONIA
+
0.39%)
Monthly,
1/18/28
249
17
—
17‌
Goldman
Sachs,
Receive
Underlying
Reference:
Halma
Monthly,
Pay
Variable
4.113%
(GBP
SONIA
+
0.38%)
Monthly,
1/18/28
74
(2)
—
(2‌)
T.
ROWE
PRICE
Global
Allocation
Fund
74
.
.
.
.
.
.
.
.
.
.
(Amounts
in
000s)
Description
Notional
Amount
$
Value
Upfront
Payments/
$
(Receipts)**
Unrealized
$
Gain/(Loss)
Goldman
Sachs,
Receive
Underlying
Reference:
Marks
&
Spencer
Group
Monthly,
Pay
Variable
4.113%
(GBP
SONIA
+
0.38%)
Monthly,
1/18/28
106
12
—
12‌
Goldman
Sachs,
Receive
Underlying
Reference:
Shell
Monthly,
Pay
Variable
4.113%
(GBP
SONIA
+
0.38%)
Monthly,
1/18/28
173
18
—
18‌
JPMorgan
Chase,
Receive
Underlying
Reference:
Bunzl
Monthly,
Pay
Variable
4.083%
(GBP
SONIA
+
0.35%)
Monthly,
1/18/28
158
6
—
6‌
Morgan
Stanley,
Pay
Underlying
Reference:
Fresnillo
Monthly,
Receive
Variable
3.423%
(GBP
SONIA
+
(0.31)%)
Monthly,
1/18/28
67
2
—
2‌
Morgan
Stanley,
Pay
Underlying
Reference:
Next
Monthly,
Receive
Variable
3.423%
(GBP
SONIA
+
(0.31)%)
Monthly,
1/18/28
228
—
—
—‌
Morgan
Stanley,
Receive
Underlying
Reference:
Barclays
Monthly,
Pay
Variable
4.122%
(GBP
SONIA
+
0.39%)
Monthly,
1/18/28
82
(5)
—
(5‌)
Morgan
Stanley,
Receive
Underlying
Reference:
HSBC
Holdings
Monthly,
Pay
Variable
4.123%
(GBP
SONIA
+
0.39%)
Monthly,
1/18/28
86
7
—
7‌
Morgan
Stanley,
Receive
Underlying
Reference:
Lloyds
Banking
Group
Monthly,
Pay
Variable
4.123%
(GBP
SONIA
+
0.39%)
Monthly,
1/18/28
294
7
—
7‌
UBS
Investment
Bank,
Receive
Underlying
Reference:
Ceres
Power
Holdings
Monthly,
Pay
Variable
4.083%
(GBP
SONIA
+
0.35%)
Monthly,
1/18/28
76
(15)
—
(15‌)
UBS
Investment
Bank,
Receive
Underlying
Reference:
Experian
Monthly,
Pay
Variable
4.085%
(GBP
SONIA
+
0.35%)
Monthly,
1/18/28
84
6
—
6‌
Total
United
Kingdom
—
46‌
T.
ROWE
PRICE
Global
Allocation
Fund
75
.
.
.
.
.
.
.
.
.
.
(Amounts
in
000s)
Description
Notional
Amount
$
Value
Upfront
Payments/
$
(Receipts)**
Unrealized
$
Gain/(Loss)
United
States
(0.1)%
Bank
of
America,
Pay
Underlying
Reference:
American
Express
Monthly,
Receive
Variable
3.327%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
407
25
—
25‌
Bank
of
America,
Receive
Underlying
Reference:
Emerson
Electric
Monthly,
Pay
Variable
3.927%
(SOFR
+
0.30%)
Monthly,
1/18/28
359
35
—
35‌
Citibank,
Pay
Underlying
Reference:
3M
Monthly,
Receive
Variable
3.434%
(SOFR
+
(0.18)%)
Monthly,
1/18/28
103
(14)
—
(14‌)
Citibank,
Pay
Underlying
Reference:
Adobe
Monthly,
Receive
Variable
3.349%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
112
(13)
—
(13‌)
Citibank,
Pay
Underlying
Reference:
Bank
of
America
Monthly,
Receive
Variable
3.335%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
120
(2)
—
(2‌)
Citibank,
Pay
Underlying
Reference:
Broadridge
Financial
Solutions
Monthly,
Receive
Variable
3.434%
(SOFR
+
(0.18)%)
Monthly,
1/18/28
140
(6)
—
(6‌)
Citibank,
Pay
Underlying
Reference:
Cigna
Monthly,
Receive
Variable
3.434%
(SOFR
+
(0.18)%)
Monthly,
1/18/28
212
8
—
8‌
Citibank,
Pay
Underlying
Reference:
Comcast,
Class
A
Monthly,
Receive
Variable
3.434%
(SOFR
+
(0.18)%)
Monthly,
1/18/28
148
(5)
—
(5‌)
Citibank,
Pay
Underlying
Reference:
Cummins
Monthly,
Receive
Variable
3.335%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
188
4
—
4‌
Citibank,
Pay
Underlying
Reference:
Deckers
Outdoor
Monthly,
Receive
Variable
3.434%
(SOFR
+
(0.18)%)
Monthly,
1/18/28
131
7
—
7‌
Citibank,
Pay
Underlying
Reference:
Edison
International
Monthly,
Receive
Variable
3.349%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
319
26
—
26‌
T.
ROWE
PRICE
Global
Allocation
Fund
76
.
.
.
.
.
.
.
.
.
.
(Amounts
in
000s)
Description
Notional
Amount
$
Value
Upfront
Payments/
$
(Receipts)**
Unrealized
$
Gain/(Loss)
Citibank,
Pay
Underlying
Reference:
Entergy
Monthly,
Receive
Variable
3.434%
(SOFR
+
(0.18)%)
Monthly,
1/18/28
170
10
—
10‌
Citibank,
Pay
Underlying
Reference:
Iron
Mountain
Monthly,
Receive
Variable
3.346%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
110
3
—
3‌
Citibank,
Pay
Underlying
Reference:
Kimberly-Clark
Monthly,
Receive
Variable
3.434%
(SOFR
+
(0.18)%)
Monthly,
1/18/28
264
5
—
5‌
Citibank,
Pay
Underlying
Reference:
Lam
Research
Monthly,
Receive
Variable
3.335%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
113
8
—
8‌
Citibank,
Pay
Underlying
Reference:
Monolithic
Power
Systems
Monthly,
Receive
Variable
3.335%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
106
(9)
—
(9‌)
Citibank,
Pay
Underlying
Reference:
ONEOK
Monthly,
Receive
Variable
3.434%
(SOFR
+
(0.18)%)
Monthly,
1/18/28
99
1
—
1‌
Citibank,
Pay
Underlying
Reference:
Palantir
Technologies,
Class
A
Monthly,
Receive
Variable
3.335%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
105
8
—
8‌
Citibank,
Pay
Underlying
Reference:
PG&E
Monthly,
Receive
Variable
3.349%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
324
8
—
8‌
Citibank,
Pay
Underlying
Reference:
Phillips
Monthly,
Receive
Variable
3.335%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
108
(3)
—
(3‌)
Citibank,
Pay
Underlying
Reference:
Prologis
Monthly,
Receive
Variable
3.434%
(SOFR
+
(0.18)%)
Monthly,
1/18/28
238
(6)
—
(6‌)
Citibank,
Pay
Underlying
Reference:
Sandisk
Monthly,
Receive
Variable
3.335%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
109
18
—
18‌
T.
ROWE
PRICE
Global
Allocation
Fund
77
.
.
.
.
.
.
.
.
.
.
(Amounts
in
000s)
Description
Notional
Amount
$
Value
Upfront
Payments/
$
(Receipts)**
Unrealized
$
Gain/(Loss)
Citibank,
Pay
Underlying
Reference:
State
Street
Monthly,
Receive
Variable
3.434%
(SOFR
+
(0.18)%)
Monthly,
1/18/28
367
(13)
—
(13‌)
Citibank,
Pay
Underlying
Reference:
Texas
Instruments
Monthly,
Receive
Variable
3.349%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
201
3
—
3‌
Citibank,
Pay
Underlying
Reference:
Valero
Energy
Monthly,
Receive
Variable
3.335%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
108
(2)
—
(2‌)
Citibank,
Pay
Underlying
Reference:
VeriSign
Monthly,
Receive
Variable
3.314%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
102
(8)
—
(8‌)
Citibank,
Receive
Underlying
Reference:
Allstate
Monthly,
Pay
Variable
4.034%
(SOFR
+
0.42%)
Monthly,
1/18/28
65
3
—
3‌
Citibank,
Receive
Underlying
Reference:
Baker
Hughes
Monthly,
Pay
Variable
4.034%
(SOFR
+
0.42%)
Monthly,
1/18/28
99
5
—
5‌
Citibank,
Receive
Underlying
Reference:
Bank
of
New
York
Mellon
Monthly,
Pay
Variable
4.034%
(SOFR
+
0.42%)
Monthly,
1/18/28
370
16
—
16‌
Citibank,
Receive
Underlying
Reference:
Bloom
Energy,
Class
A
Monthly,
Pay
Variable
4.045%
(SOFR
+
0.42%)
Monthly,
1/18/28
96
4
—
4‌
Citibank,
Receive
Underlying
Reference:
Capital
One
Financial
Monthly,
Pay
Variable
4.034%
(SOFR
+
0.42%)
Monthly,
1/18/28
110
9
—
9‌
Citibank,
Receive
Underlying
Reference:
Consolidated
Edison
Monthly,
Pay
Variable
4.034%
(SOFR
+
0.42%)
Monthly,
1/18/28
112
(4)
—
(4‌)
Citibank,
Receive
Underlying
Reference:
CSX
Monthly,
Pay
Variable
4.034%
(SOFR
+
0.42%)
Monthly,
1/18/28
372
12
—
12‌
T.
ROWE
PRICE
Global
Allocation
Fund
78
.
.
.
.
.
.
.
.
.
.
(Amounts
in
000s)
Description
Notional
Amount
$
Value
Upfront
Payments/
$
(Receipts)**
Unrealized
$
Gain/(Loss)
Citibank,
Receive
Underlying
Reference:
DTE
Energy
Monthly,
Pay
Variable
4.034%
(SOFR
+
0.42%)
Monthly,
1/18/28
220
(14)
—
(14‌)
Citibank,
Receive
Underlying
Reference:
Elevance
Health
Monthly,
Pay
Variable
4.034%
(SOFR
+
0.42%)
Monthly,
1/18/28
139
(14)
—
(14‌)
Citibank,
Receive
Underlying
Reference:
Fortive
Monthly,
Pay
Variable
4.034%
(SOFR
+
0.42%)
Monthly,
1/18/28
279
(10)
—
(10‌)
Citibank,
Receive
Underlying
Reference:
Gilead
Sciences
Monthly,
Pay
Variable
4.034%
(SOFR
+
0.42%)
Monthly,
1/18/28
146
(6)
—
(6‌)
Citibank,
Receive
Underlying
Reference:
Home
Depot
Monthly,
Pay
Variable
4.034%
(SOFR
+
0.42%)
Monthly,
1/18/28
262
(4)
—
(4‌)
Citibank,
Receive
Underlying
Reference:
International
Business
Machines
Monthly,
Pay
Variable
4.045%
(SOFR
+
0.42%)
Monthly,
1/18/28
103
6
—
6‌
Citibank,
Receive
Underlying
Reference:
Marsh
&
McLennan
Monthly,
Pay
Variable
4.034%
(SOFR
+
0.42%)
Monthly,
1/18/28
146
9
—
9‌
Citibank,
Receive
Underlying
Reference:
McDonald's
Monthly,
Pay
Variable
4.034%
(SOFR
+
0.42%)
Monthly,
1/18/28
112
(3)
—
(3‌)
Citibank,
Receive
Underlying
Reference:
ServiceNow
Monthly,
Pay
Variable
4.021%
(SOFR
+
0.42%)
Monthly,
1/18/28
187
34
—
34‌
Citibank,
Receive
Underlying
Reference:
SLB
Monthly,
Pay
Variable
4.034%
(SOFR
+
0.42%)
Monthly,
1/18/28
57
2
—
2‌
Citibank,
Receive
Underlying
Reference:
Tradeweb
Markets,
Class
A
Monthly,
Pay
Variable
4.034%
(SOFR
+
0.42%)
Monthly,
1/18/28
212
1
—
1‌
T.
ROWE
PRICE
Global
Allocation
Fund
79
.
.
.
.
.
.
.
.
.
.
(Amounts
in
000s)
Description
Notional
Amount
$
Value
Upfront
Payments/
$
(Receipts)**
Unrealized
$
Gain/(Loss)
Citibank,
Receive
Underlying
Reference:
United
Airlines
Holdings
Monthly,
Pay
Variable
4.034%
(SOFR
+
0.42%)
Monthly,
1/18/28
119
(5)
—
(5‌)
Citibank,
Receive
Underlying
Reference:
Vertex
Pharmaceuticals
Monthly,
Pay
Variable
4.034%
(SOFR
+
0.42%)
Monthly,
1/18/28
144
(7)
—
(7‌)
Goldman
Sachs,
Pay
Underlying
Reference:
Airbnb,
Class
A
Monthly,
Receive
Variable
3.327%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
132
(3)
—
(3‌)
Goldman
Sachs,
Pay
Underlying
Reference:
Akamai
Technologies
Monthly,
Receive
Variable
3.350%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
106
(1)
—
(1‌)
Goldman
Sachs,
Pay
Underlying
Reference:
American
Electric
Power
Monthly,
Receive
Variable
3.327%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
210
8
—
8‌
Goldman
Sachs,
Pay
Underlying
Reference:
AT&T
Monthly,
Receive
Variable
3.327%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
104
(11)
—
(11‌)
Goldman
Sachs,
Pay
Underlying
Reference:
Blackstone
Monthly,
Receive
Variable
3.327%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
150
(1)
—
(1‌)
Goldman
Sachs,
Pay
Underlying
Reference:
CenterPoint
Energy
Monthly,
Receive
Variable
3.327%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
192
3
—
3‌
Goldman
Sachs,
Pay
Underlying
Reference:
Constellation
Energy
Monthly,
Receive
Variable
3.327%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
155
(3)
—
(3‌)
Goldman
Sachs,
Pay
Underlying
Reference:
Dollar
Tree
Monthly,
Receive
Variable
3.327%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
120
—
—
—‌
Goldman
Sachs,
Pay
Underlying
Reference:
DuPont
de
Nemours
Monthly,
Receive
Variable
3.327%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
189
(3)
—
(3‌)
T.
ROWE
PRICE
Global
Allocation
Fund
80
.
.
.
.
.
.
.
.
.
.
(Amounts
in
000s)
Description
Notional
Amount
$
Value
Upfront
Payments/
$
(Receipts)**
Unrealized
$
Gain/(Loss)
Goldman
Sachs,
Pay
Underlying
Reference:
Evergy
Monthly,
Receive
Variable
3.327%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
408
12
—
12‌
Goldman
Sachs,
Pay
Underlying
Reference:
Exelon
Monthly,
Receive
Variable
3.327%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
233
—
—
—‌
Goldman
Sachs,
Pay
Underlying
Reference:
Fastenal
Monthly,
Receive
Variable
3.327%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
101
(6)
—
(6‌)
Goldman
Sachs,
Pay
Underlying
Reference:
FirstEnergy
Monthly,
Receive
Variable
3.327%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
102
1
—
1‌
Goldman
Sachs,
Pay
Underlying
Reference:
Halliburton
Monthly,
Receive
Variable
3.327%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
136
12
—
12‌
Goldman
Sachs,
Pay
Underlying
Reference:
Hartford
Insurance
Group
Monthly,
Receive
Variable
3.327%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
248
(13)
—
(13‌)
Goldman
Sachs,
Pay
Underlying
Reference:
HCA
Healthcare
Monthly,
Receive
Variable
3.327%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
121
(7)
—
(7‌)
Goldman
Sachs,
Pay
Underlying
Reference:
Johnson
&
Johnson
Monthly,
Receive
Variable
3.327%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
142
(5)
—
(5‌)
Goldman
Sachs,
Pay
Underlying
Reference:
JPMorgan
Chase
Monthly,
Receive
Variable
3.327%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
110
(1)
—
(1‌)
Goldman
Sachs,
Pay
Underlying
Reference:
Leidos
Holdings
Monthly,
Receive
Variable
3.327%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
64
(4)
—
(4‌)
Goldman
Sachs,
Pay
Underlying
Reference:
Nasdaq
Monthly,
Receive
Variable
3.327%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
185
(5)
—
(5‌)
T.
ROWE
PRICE
Global
Allocation
Fund
81
.
.
.
.
.
.
.
.
.
.
(Amounts
in
000s)
Description
Notional
Amount
$
Value
Upfront
Payments/
$
(Receipts)**
Unrealized
$
Gain/(Loss)
Goldman
Sachs,
Pay
Underlying
Reference:
NiSource
Monthly,
Receive
Variable
3.327%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
362
8
—
8‌
Goldman
Sachs,
Pay
Underlying
Reference:
Norfolk
Southern
Monthly,
Receive
Variable
3.327%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
223
(4)
—
(4‌)
Goldman
Sachs,
Pay
Underlying
Reference:
Quanta
Services
Monthly,
Receive
Variable
3.327%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
93
(3)
—
(3‌)
Goldman
Sachs,
Pay
Underlying
Reference:
Rockwell
Automation
Monthly,
Receive
Variable
3.327%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
462
(17)
—
(17‌)
Goldman
Sachs,
Pay
Underlying
Reference:
S&P
Global
Monthly,
Receive
Variable
3.350%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
157
1
—
1‌
Goldman
Sachs,
Pay
Underlying
Reference:
Starbucks
Monthly,
Receive
Variable
3.327%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
106
—
—
—‌
Goldman
Sachs,
Pay
Underlying
Reference:
Sunbelt
Rentals
Holdings
Monthly,
Receive
Variable
3.383%
(GBP
SONIA
+
(0.35)%)
Monthly,
1/18/28
(GBP)
79
3
—
3‌
Goldman
Sachs,
Pay
Underlying
Reference:
Synchrony
Financial
Monthly,
Receive
Variable
3.327%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
273
(6)
—
(6‌)
Goldman
Sachs,
Pay
Underlying
Reference:
Uber
Technologies
Monthly,
Receive
Variable
3.327%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
131
4
—
4‌
Goldman
Sachs,
Pay
Underlying
Reference:
United
Parcel
Service,
Class
B
Monthly,
Receive
Variable
3.327%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
165
13
—
13‌
Goldman
Sachs,
Pay
Underlying
Reference:
United
Rentals
Monthly,
Receive
Variable
3.327%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
134
(4)
—
(4‌)
T.
ROWE
PRICE
Global
Allocation
Fund
82
.
.
.
.
.
.
.
.
.
.
(Amounts
in
000s)
Description
Notional
Amount
$
Value
Upfront
Payments/
$
(Receipts)**
Unrealized
$
Gain/(Loss)
Goldman
Sachs,
Pay
Underlying
Reference:
Veralto
Monthly,
Receive
Variable
3.327%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
168
(6)
—
(6‌)
Goldman
Sachs,
Pay
Underlying
Reference:
Verizon
Communications
Monthly,
Receive
Variable
3.327%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
138
(16)
—
(16‌)
Goldman
Sachs,
Pay
Underlying
Reference:
W
R
Berkley
Monthly,
Receive
Variable
3.327%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
221
(8)
—
(8‌)
Goldman
Sachs,
Pay
Underlying
Reference:
W.W.
Grainger
Monthly,
Receive
Variable
3.350%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
217
1
—
1‌
Goldman
Sachs,
Pay
Underlying
Reference:
Wells
Fargo
Monthly,
Receive
Variable
3.327%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
158
2
—
2‌
Goldman
Sachs,
Pay
Underlying
Reference:
Williams-Sonoma
Monthly,
Receive
Variable
3.327%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
113
(3)
—
(3‌)
Goldman
Sachs,
Receive
Underlying
Reference:
Block
Monthly,
Pay
Variable
3.927%
(SOFR
+
0.30%)
Monthly,
1/18/28
63
(1)
—
(1‌)
Goldman
Sachs,
Receive
Underlying
Reference:
Boston
Scientific
Monthly,
Pay
Variable
3.927%
(SOFR
+
0.30%)
Monthly,
1/18/28
86
7
—
7‌
Goldman
Sachs,
Receive
Underlying
Reference:
Corning
Monthly,
Pay
Variable
3.927%
(SOFR
+
0.30%)
Monthly,
1/18/28
102
(21)
—
(21‌)
Goldman
Sachs,
Receive
Underlying
Reference:
Dominion
Energy
Monthly,
Pay
Variable
3.927%
(SOFR
+
0.30%)
Monthly,
1/18/28
490
(13)
—
(13‌)
Goldman
Sachs,
Receive
Underlying
Reference:
Interactive
Brokers
Group,
Class
A
Monthly,
Pay
Variable
3.927%
(SOFR
+
0.30%)
Monthly,
1/18/28
255
(25)
—
(25‌)
T.
ROWE
PRICE
Global
Allocation
Fund
83
.
.
.
.
.
.
.
.
.
.
(Amounts
in
000s)
Description
Notional
Amount
$
Value
Upfront
Payments/
$
(Receipts)**
Unrealized
$
Gain/(Loss)
Goldman
Sachs,
Receive
Underlying
Reference:
Live
Nation
Entertainment
Monthly,
Pay
Variable
3.927%
(SOFR
+
0.30%)
Monthly,
1/18/28
121
(3)
—
(3‌)
Goldman
Sachs,
Receive
Underlying
Reference:
Microsoft
Monthly,
Pay
Variable
3.927%
(SOFR
+
0.30%)
Monthly,
1/18/28
91
16
—
16‌
Goldman
Sachs,
Receive
Underlying
Reference:
Oracle
Monthly,
Pay
Variable
3.927%
(SOFR
+
0.30%)
Monthly,
1/18/28
92
(2)
—
(2‌)
Goldman
Sachs,
Receive
Underlying
Reference:
QUALCOMM
Monthly,
Pay
Variable
3.950%
(SOFR
+
0.30%)
Monthly,
1/18/28
103
—
—
—‌
Goldman
Sachs,
Receive
Underlying
Reference:
Southern
Monthly,
Pay
Variable
3.927%
(SOFR
+
0.30%)
Monthly,
1/18/28
205
(1)
—
(1‌)
Goldman
Sachs,
Receive
Underlying
Reference:
T-Mobile
U.S.
Monthly,
Pay
Variable
3.927%
(SOFR
+
0.30%)
Monthly,
1/18/28
110
(9)
—
(9‌)
Goldman
Sachs,
Receive
Underlying
Reference:
Tractor
Supply
Monthly,
Pay
Variable
3.927%
(SOFR
+
0.30%)
Monthly,
1/18/28
66
1
—
1‌
JPMorgan
Chase,
Pay
Underlying
Reference:
AbbVie
Monthly,
Receive
Variable
3.327%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
107
(4)
—
(4‌)
JPMorgan
Chase,
Pay
Underlying
Reference:
Bank
of
America
Monthly,
Receive
Variable
3.344%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
459
(4)
—
(4‌)
JPMorgan
Chase,
Pay
Underlying
Reference:
Cognizant
Technology
Solutions,
Class
A
Monthly,
Receive
Variable
3.377%
(SOFR
+
(0.25)%)
Monthly,
1/18/28
133
(37)
—
(37‌)
JPMorgan
Chase,
Pay
Underlying
Reference:
Devon
Energy
Monthly,
Receive
Variable
3.377%
(SOFR
+
(0.25)%)
Monthly,
1/18/28
476
(24)
—
(24‌)
T.
ROWE
PRICE
Global
Allocation
Fund
84
.
.
.
.
.
.
.
.
.
.
(Amounts
in
000s)
Description
Notional
Amount
$
Value
Upfront
Payments/
$
(Receipts)**
Unrealized
$
Gain/(Loss)
JPMorgan
Chase,
Pay
Underlying
Reference:
Fedex
Freight
Holding
Monthly,
Receive
Variable
3.327%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
153
2
—
2‌
JPMorgan
Chase,
Pay
Underlying
Reference:
General
Mills
Monthly,
Receive
Variable
3.350%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
587
6
—
6‌
JPMorgan
Chase,
Pay
Underlying
Reference:
Humana
Monthly,
Receive
Variable
3.327%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
116
13
—
13‌
JPMorgan
Chase,
Pay
Underlying
Reference:
Intuit
Monthly,
Receive
Variable
3.327%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
116
(15)
—
(15‌)
JPMorgan
Chase,
Pay
Underlying
Reference:
Micron
Technology
Monthly,
Receive
Variable
3.327%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
101
9
—
9‌
JPMorgan
Chase,
Pay
Underlying
Reference:
Micron
Technology
Monthly,
Receive
Variable
3.335%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
98
7
—
7‌
JPMorgan
Chase,
Pay
Underlying
Reference:
Nordson
Monthly,
Receive
Variable
3.377%
(SOFR
+
(0.25)%)
Monthly,
1/18/28
113
(4)
—
(4‌)
JPMorgan
Chase,
Pay
Underlying
Reference:
Vulcan
Materials
Monthly,
Receive
Variable
3.377%
(SOFR
+
(0.25)%)
Monthly,
1/18/28
100
7
—
7‌
JPMorgan
Chase,
Pay
Underlying
Reference:
West
Pharmaceutical
Services
Monthly,
Receive
Variable
3.350%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
211
(2)
—
(2‌)
JPMorgan
Chase,
Receive
Underlying
Reference:
Alliant
Energy
Monthly,
Pay
Variable
3.977%
(SOFR
+
0.35%)
Monthly,
1/18/28
341
(15)
—
(15‌)
JPMorgan
Chase,
Receive
Underlying
Reference:
Allstate
Monthly,
Pay
Variable
3.977%
(SOFR
+
0.35%)
Monthly,
1/18/28
243
25
—
25‌
T.
ROWE
PRICE
Global
Allocation
Fund
85
.
.
.
.
.
.
.
.
.
.
(Amounts
in
000s)
Description
Notional
Amount
$
Value
Upfront
Payments/
$
(Receipts)**
Unrealized
$
Gain/(Loss)
JPMorgan
Chase,
Receive
Underlying
Reference:
Ameren
Monthly,
Pay
Variable
3.977%
(SOFR
+
0.35%)
Monthly,
1/18/28
270
(5)
—
(5‌)
JPMorgan
Chase,
Receive
Underlying
Reference:
Apple
Monthly,
Pay
Variable
3.927%
(SOFR
+
0.30%)
Monthly,
1/18/28
45
(3)
—
(3‌)
JPMorgan
Chase,
Receive
Underlying
Reference:
Apple
Monthly,
Pay
Variable
3.935%
(SOFR
+
0.30%)
Monthly,
1/18/28
161
(11)
—
(11‌)
JPMorgan
Chase,
Receive
Underlying
Reference:
Axon
Enterprise
Monthly,
Pay
Variable
3.977%
(SOFR
+
0.35%)
Monthly,
1/18/28
121
(3)
—
(3‌)
JPMorgan
Chase,
Receive
Underlying
Reference:
Blackrock
Monthly,
Pay
Variable
3.944%
(SOFR
+
0.30%)
Monthly,
1/18/28
472
22
—
22‌
JPMorgan
Chase,
Receive
Underlying
Reference:
Block
Monthly,
Pay
Variable
3.977%
(SOFR
+
0.35%)
Monthly,
1/18/28
122
(1)
—
(1‌)
JPMorgan
Chase,
Receive
Underlying
Reference:
Bristol-Myers
Squibb
Monthly,
Pay
Variable
3.955%
(SOFR
+
0.328%)
Monthly,
1/18/28
216
26
—
26‌
JPMorgan
Chase,
Receive
Underlying
Reference:
Cardinal
Health
Monthly,
Pay
Variable
3.977%
(SOFR
+
0.35%)
Monthly,
1/18/28
106
2
—
2‌
JPMorgan
Chase,
Receive
Underlying
Reference:
Colgate-Palmolive
Monthly,
Pay
Variable
3.977%
(SOFR
+
0.35%)
Monthly,
1/18/28
225
—
—
—‌
JPMorgan
Chase,
Receive
Underlying
Reference:
ConocoPhillips
Monthly,
Pay
Variable
3.977%
(SOFR
+
0.35%)
Monthly,
1/18/28
237
19
—
19‌
JPMorgan
Chase,
Receive
Underlying
Reference:
CubeSmart
Monthly,
Pay
Variable
3.977%
(SOFR
+
0.35%)
Monthly,
1/18/28
106
2
—
2‌
T.
ROWE
PRICE
Global
Allocation
Fund
86
.
.
.
.
.
.
.
.
.
.
(Amounts
in
000s)
Description
Notional
Amount
$
Value
Upfront
Payments/
$
(Receipts)**
Unrealized
$
Gain/(Loss)
JPMorgan
Chase,
Receive
Underlying
Reference:
Dell
Technologies,
Class
C
Monthly,
Pay
Variable
3.977%
(SOFR
+
0.35%)
Monthly,
1/18/28
118
(2)
—
(2‌)
JPMorgan
Chase,
Receive
Underlying
Reference:
Equinix
Monthly,
Pay
Variable
3.977%
(SOFR
+
0.35%)
Monthly,
1/18/28
202
(1)
—
(1‌)
JPMorgan
Chase,
Receive
Underlying
Reference:
Esab
Monthly,
Pay
Variable
3.977%
(SOFR
+
0.35%)
Monthly,
1/18/28
77
(1)
—
(1‌)
JPMorgan
Chase,
Receive
Underlying
Reference:
ExxonMobil
Holdings
Monthly,
Pay
Variable
3.977%
(SOFR
+
0.35%)
Monthly,
1/18/28
97
7
—
7‌
JPMorgan
Chase,
Receive
Underlying
Reference:
Federal
Realty
Investment
Trust
Monthly,
Pay
Variable
3.977%
(SOFR
+
0.35%)
Monthly,
1/18/28
246
3
—
3‌
JPMorgan
Chase,
Receive
Underlying
Reference:
International
Paper
Monthly,
Pay
Variable
3.977%
(SOFR
+
0.35%)
Monthly,
1/18/28
98
11
—
11‌
JPMorgan
Chase,
Receive
Underlying
Reference:
KeyCorp
Monthly,
Pay
Variable
3.977%
(SOFR
+
0.35%)
Monthly,
1/18/28
326
(14)
—
(14‌)
JPMorgan
Chase,
Receive
Underlying
Reference:
KLA
Monthly,
Pay
Variable
3.927%
(SOFR
+
0.30%)
Monthly,
1/18/28
216
(41)
—
(41‌)
JPMorgan
Chase,
Receive
Underlying
Reference:
KLA
Monthly,
Pay
Variable
3.935%
(SOFR
+
0.30%)
Monthly,
1/18/28
61
(9)
—
(9‌)
JPMorgan
Chase,
Receive
Underlying
Reference:
Madison
Air
Solutions,
Class
A
Monthly,
Pay
Variable
3.977%
(SOFR
+
0.35%)
Monthly,
1/18/28
73
(11)
—
(11‌)
JPMorgan
Chase,
Receive
Underlying
Reference:
Meta
Platforms,
Class
A
Monthly,
Pay
Variable
3.977%
(SOFR
+
0.35%)
Monthly,
1/18/28
197
(36)
—
(36‌)
T.
ROWE
PRICE
Global
Allocation
Fund
87
.
.
.
.
.
.
.
.
.
.
(Amounts
in
000s)
Description
Notional
Amount
$
Value
Upfront
Payments/
$
(Receipts)**
Unrealized
$
Gain/(Loss)
JPMorgan
Chase,
Receive
Underlying
Reference:
PACCAR
Monthly,
Pay
Variable
3.977%
(SOFR
+
0.35%)
Monthly,
1/18/28
233
18
—
18‌
JPMorgan
Chase,
Receive
Underlying
Reference:
Parker-Hannifin
Monthly,
Pay
Variable
3.977%
(SOFR
+
0.35%)
Monthly,
1/18/28
134
3
—
3‌
JPMorgan
Chase,
Receive
Underlying
Reference:
Procter
&
Gamble
Monthly,
Pay
Variable
3.977%
(SOFR
+
0.35%)
Monthly,
1/18/28
107
(2)
—
(2‌)
JPMorgan
Chase,
Receive
Underlying
Reference:
Public
Storage
Monthly,
Pay
Variable
3.977%
(SOFR
+
0.35%)
Monthly,
1/18/28
216
6
—
6‌
JPMorgan
Chase,
Receive
Underlying
Reference:
Saia
Monthly,
Pay
Variable
3.977%
(SOFR
+
0.35%)
Monthly,
1/18/28
107
(18)
—
(18‌)
JPMorgan
Chase,
Receive
Underlying
Reference:
Sempra
Monthly,
Pay
Variable
3.977%
(SOFR
+
0.35%)
Monthly,
1/18/28
198
(9)
—
(9‌)
JPMorgan
Chase,
Receive
Underlying
Reference:
Targa
Resources
Monthly,
Pay
Variable
3.977%
(SOFR
+
0.35%)
Monthly,
1/18/28
151
(4)
—
(4‌)
JPMorgan
Chase,
Receive
Underlying
Reference:
Ternium
Monthly,
Pay
Variable
3.927%
(SOFR
+
0.30%)
Monthly,
1/18/28
112
10
—
10‌
JPMorgan
Chase,
Receive
Underlying
Reference:
Toll
Brothers
Monthly,
Pay
Variable
3.927%
(SOFR
+
0.30%)
Monthly,
1/18/28
479
(24)
—
(24‌)
JPMorgan
Chase,
Receive
Underlying
Reference:
U.S.
Bancorp
Monthly,
Pay
Variable
3.977%
(SOFR
+
0.35%)
Monthly,
1/18/28
169
—
—
—‌
JPMorgan
Chase,
Receive
Underlying
Reference:
Welltower
Monthly,
Pay
Variable
3.977%
(SOFR
+
0.35%)
Monthly,
1/18/28
112
—
—
—‌
T.
ROWE
PRICE
Global
Allocation
Fund
88
.
.
.
.
.
.
.
.
.
.
(Amounts
in
000s)
Description
Notional
Amount
$
Value
Upfront
Payments/
$
(Receipts)**
Unrealized
$
Gain/(Loss)
JPMorgan
Chase,
Receive
Underlying
Reference:
Xylem
Monthly,
Pay
Variable
3.977%
(SOFR
+
0.35%)
Monthly,
1/18/28
97
(4)
—
(4‌)
Morgan
Stanley,
Pay
Underlying
Reference:
Coinbase
Global,
Class
A
Monthly,
Receive
Variable
3.327%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
168
21
—
21‌
Morgan
Stanley,
Pay
Underlying
Reference:
Dollar
General
Monthly,
Receive
Variable
3.327%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
123
(6)
—
(6‌)
Morgan
Stanley,
Pay
Underlying
Reference:
Domino's
Pizza
Monthly,
Receive
Variable
3.327%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
155
(18)
—
(18‌)
Morgan
Stanley,
Pay
Underlying
Reference:
GE
Vernova
Monthly,
Receive
Variable
3.327%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
104
7
—
7‌
Morgan
Stanley,
Pay
Underlying
Reference:
Host
Hotels
&
Resorts
Monthly,
Receive
Variable
3.327%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
109
(6)
—
(6‌)
Morgan
Stanley,
Pay
Underlying
Reference:
Hubbell
Monthly,
Receive
Variable
3.327%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
101
2
—
2‌
Morgan
Stanley,
Pay
Underlying
Reference:
Insulet
Monthly,
Receive
Variable
3.327%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
227
(8)
—
(8‌)
Morgan
Stanley,
Pay
Underlying
Reference:
Insulet
Monthly,
Receive
Variable
3.327%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
127
(5)
—
(5‌)
Morgan
Stanley,
Pay
Underlying
Reference:
Southwest
Airlines
Monthly,
Receive
Variable
3.327%
(SOFR
+
(0.30)%)
Monthly,
1/18/28
106
9
—
9‌
Morgan
Stanley,
Receive
Underlying
Reference:
Alphabet,
Class
C
Monthly,
Pay
Variable
3.927%
(SOFR
+
0.30%)
Monthly,
1/18/28
143
(6)
—
(6‌)
T.
ROWE
PRICE
Global
Allocation
Fund
89
.
.
.
.
.
.
.
.
.
.
(Amounts
in
000s)
Description
Notional
Amount
$
Value
Upfront
Payments/
$
(Receipts)**
Unrealized
$
Gain/(Loss)
Morgan
Stanley,
Receive
Underlying
Reference:
Amazon.com
Monthly,
Pay
Variable
3.950%
(SOFR
+
0.30%)
Monthly,
1/18/28
105
20
—
20‌
Morgan
Stanley,
Receive
Underlying
Reference:
Ameren
Monthly,
Pay
Variable
3.927%
(SOFR
+
0.30%)
Monthly,
1/18/28
63
(1)
—
(1‌)
Morgan
Stanley,
Receive
Underlying
Reference:
CME
Group
Monthly,
Pay
Variable
3.927%
(SOFR
+
0.30%)
Monthly,
1/18/28
106
10
—
10‌
Morgan
Stanley,
Receive
Underlying
Reference:
Eli
Lilly
Monthly,
Pay
Variable
3.927%
(SOFR
+
0.30%)
Monthly,
1/18/28
124
(1)
—
(1‌)
Morgan
Stanley,
Receive
Underlying
Reference:
Emerson
Electric
Monthly,
Pay
Variable
3.927%
(SOFR
+
0.30%)
Monthly,
1/18/28
55
5
—
5‌
Morgan
Stanley,
Receive
Underlying
Reference:
Lincoln
National
Monthly,
Pay
Variable
3.950%
(SOFR
+
0.30%)
Monthly,
1/18/28
124
10
—
10‌
Morgan
Stanley,
Receive
Underlying
Reference:
Mondelez
International,
Class
A
Monthly,
Pay
Variable
3.950%
(SOFR
+
0.30%)
Monthly,
1/18/28
416
(18)
—
(18‌)
Morgan
Stanley,
Receive
Underlying
Reference:
Mosaic
Monthly,
Pay
Variable
3.927%
(SOFR
+
0.30%)
Monthly,
1/18/28
170
(7)
—
(7‌)
Morgan
Stanley,
Receive
Underlying
Reference:
NRG
Energy
Monthly,
Pay
Variable
3.946%
(SOFR
+
0.30%)
Monthly,
1/18/28
34
(2)
—
(2‌)
Morgan
Stanley,
Receive
Underlying
Reference:
NRG
Energy
Monthly,
Pay
Variable
3.949%
(SOFR
+
0.30%)
Monthly,
1/18/28
112
(5)
—
(5‌)
Morgan
Stanley,
Receive
Underlying
Reference:
NRG
Energy
Monthly,
Pay
Variable
3.951%
(SOFR
+
0.30%)
Monthly,
1/18/28
27
—
—
—‌
T.
ROWE
PRICE
Global
Allocation
Fund
90
.
.
.
.
.
.
.
.
.
.
(Amounts
in
000s)
Description
Notional
Amount
$
Value
Upfront
Payments/
$
(Receipts)**
Unrealized
$
Gain/(Loss)
Morgan
Stanley,
Receive
Underlying
Reference:
Rexford
Industrial
Realty
Monthly,
Pay
Variable
3.927%
(SOFR
+
0.30%)
Monthly,
1/18/28
159
12
—
12‌
Morgan
Stanley,
Receive
Underlying
Reference:
Skyworks
Solutions
Monthly,
Pay
Variable
3.927%
(SOFR
+
0.30%)
Monthly,
1/18/28
144
12
—
12‌
Morgan
Stanley,
Receive
Underlying
Reference:
Stryker
Monthly,
Pay
Variable
3.927%
(SOFR
+
0.30%)
Monthly,
1/18/28
204
6
—
6‌
Morgan
Stanley,
Receive
Underlying
Reference:
T
Rowe
Price
Natural
Resources
ETF
Monthly,
Pay
Variable
3.950%
(SOFR
+
0.30%)
Monthly,
1/18/28
20
—
—
—‌
Morgan
Stanley,
Receive
Underlying
Reference:
Westinghouse
Air
Brake
Technologies
Monthly,
Pay
Variable
3.927%
(SOFR
+
0.30%)
Monthly,
1/18/28
310
37
—
37‌
Morgan
Stanley,
Receive
Underlying
Reference:
Workday,
Class
A
Monthly,
Pay
Variable
3.927%
(SOFR
+
0.30%)
Monthly,
1/18/28
115
15
—
15‌
Total
United
States
—
(14‌)
Virgin
Islands
(British)
0.0%
Morgan
Stanley,
Receive
Underlying
Reference:
Establishment
Labs
Holdings
Monthly,
Pay
Variable
3.927%
(SOFR
+
0.30%)
Monthly,
1/18/28
135
3
—
3‌
Total
Virgin
Islands
(British)
—
3‌
Total
Bilateral
Total
Return
Swaps
—
196‌
Total
Bilateral
Swaps
—
196‌
T.
ROWE
PRICE
Global
Allocation
Fund
91
.
.
.
.
.
.
.
.
.
.
(Amounts
in
000s)
Description
Notional
Amount
$
Value
Initial
$
Value
Unrealized
$
Gain/(Loss)
CENTRALLY
CLEARED
SWAPS
0.0%
Credit
Default
Swaps,
Protection
Sold
0.0%
United
States
0.0%
Protection
Sold
(Relevant
Credit:
Markit
CDX.NA.IG-S45,
5
Year
Index),
Receive
1.00%
Quarterly,
Pay
upon
credit
default,
12/20/30
3,050
67
56
11‌
Protection
Sold
(Relevant
Credit:
Markit
CDX.NA.IG-S46,
5
Year
Index),
Receive
1.00%
Quarterly,
Pay
upon
credit
default,
6/20/31
1,450
31
22
9‌
Total
United
States
20‌
Total
Centrally
Cleared
Credit
Default
Swaps,
Protection
Sold
20‌
Zero-Coupon
Inflation
Swaps
(0.0)%
United
States
(0.0)%
5
Year
Zero-Coupon
Inflation
Swap
Pay
Fixed
2.625%
at
Maturity,
Receive
Variable
(Change
in
CPI)
at
Maturity,
6/4/31
250
(1)
—
(1‌)
Total
United
States
(1‌)
Total
Centrally
Cleared
Zero-Coupon
Inflation
Swaps
(1‌)
Total
Centrally
Cleared
Swaps
19‌
Net
payments
(receipts)
of
variation
margin
to
date
(18‌)
Variation
margin
receivable
(payable)
on
centrally
cleared
swaps
$
1‌
**
Includes
interest
purchased
or
sold
but
not
yet
collected
of
less
than
$1.
T.
ROWE
PRICE
Global
Allocation
Fund
92
(Amounts
in
000s)
FORWARD
CURRENCY
EXCHANGE
CONTRACTS
Counterparty
Settlement
Receive
Deliver
Unrealized
Gain/(Loss)
JPMorgan
Chase
8/14/26
JPY
59,604‌
USD
368‌
$
7‌
Net
unrealized
gain
(loss)
on
open
forward
currency
exchange
contracts
$
7‌
T.
ROWE
PRICE
Global
Allocation
Fund
93
FUTURES
CONTRACTS
($000s)
Expiration
Date
Notional
Amount
Value
and
Unrealized
Gain
(Loss)
Short,
33
Euro
STOXX
contracts
9/26
(2,425)
$
(44‌)
Short,
10
FTSE
100
Index
contracts
9/26
(1,464)
(46‌)
Short,
14
MSCI
EAFE
Index
contracts
9/26
(2,228)
(11‌)
Short,
14
S&P
500
E-Mini
Index
contracts
9/26
(5,264)
(76‌)
Short,
5
S&P
500
E-Mini
Index
Energy
Sector
contracts
9/26
(627)
(25‌)
Short,
26
S&P
500
Micro
E-Mini
Index
contracts
9/26
(978)
(1‌)
Short,
58
TOPIX
Mini
Index
contracts
9/26
(1,453)
(53‌)
Long,
18
U.S.
Treasury
Notes
five
year
contracts
9/26
1,908
(14‌)
Long,
11
U.S.
Treasury
Notes
two
year
contracts
9/26
2,262
(6‌)
Long,
8
Ultra
U.S.
Treasury
Bonds
contracts
9/26
877
(25‌)
Long,
11
Ultra
U.S.
Treasury
Notes
ten
year
contracts
9/26
1,207
(13‌)
Net
payments
(receipts)
of
variation
margin
to
date
242‌
Variation
margin
receivable
(payable)
on
open
futures
contracts
$
(72‌)
T.
ROWE
PRICE
Global
Allocation
Fund
94
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
July
31,
2026.
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
Dynamic
Global
Bond
Fund
-
I
Class,
5.55% 
$
(102‌)
$
294‌
$
748‌
T.
Rowe
Price
Emerging
Markets
Bond
Fund
-
I
Class,
6.06% 
—‌
(291‌)
1,528‌
T.
Rowe
Price
Emerging
Markets
Local
Currency
Bond
Fund
-
I
Class,
6.69% 
—‌
(142‌)
1,042‌
T.
Rowe
Price
Institutional
Floating
Rate
Fund
-
Institutional
Class,
6.46% 
(13‌)
(129‌)
400‌
T.
Rowe
Price
Institutional
High
Yield
Fund
-
Institutional
Class,
6.49% 
(2‌)
(370‌)
979‌
T.
Rowe
Price
Integrated
U.S.
Small-Mid
Cap
Core
Equity
Fund
-
I
Class 
795‌
9,160‌
277‌
T.
Rowe
Price
International
Bond
Fund
-
I
Class,
3.54% 
—‌
(582‌)
740‌
T.
Rowe
Price
International
Bond
Fund
(USD
Hedged)
-
I
Class,
3.56% 
(10‌)
(133‌)
249‌
T.
Rowe
Price
Natural
Resources
ETF 
—‌
(10‌)
—‌
T.
Rowe
Price
Government
Reserve
Fund,
3.72%
—‌
—‌
779‌++
T.
Rowe
Price
Treasury
Reserve
Fund,
3.70%
—‌
—‌
49‌++
Affiliates
not
held
at
period
end
(3,167‌)
3,221‌
5‌
Totals
$
(2,499‌)#
$
11,018‌
$
6,796‌+
T.
ROWE
PRICE
Global
Allocation
Fund
95
The
accompanying
notes
are
an
integral
part
of
this
Portfolio
of
Investments.
AFFILIATED
COMPANIES
(CONTINUED)
($000s)
Supplementary
Investment
Schedule
Affiliate
Value
10/31/25
Purchase
Cost
Sales
Cost
Value
7/31/26
T.
Rowe
Price
Dynamic
Global
Bond
Fund
-
I
Class,
5.55% 
$
15,184‌
$
1,743‌
$
770‌
$
16,451‌
T.
Rowe
Price
Emerging
Markets
Bond
Fund
-
I
Class,
6.06% 
31,414‌
4,369‌
25‌
35,467‌
T.
Rowe
Price
Emerging
Markets
Local
Currency
Bond
Fund
-
I
Class,
6.69% 
18,161‌
4,435‌
—‌
22,454‌
T.
Rowe
Price
Institutional
Floating
Rate
Fund
-
Institutional
Class,
6.46% 
7,623‌
697‌
264‌
7,927‌
T.
Rowe
Price
Institutional
High
Yield
Fund
-
Institutional
Class,
6.49% 
18,387‌
1,672‌
153‌
19,536‌
T.
Rowe
Price
Integrated
U.S.
Small-Mid
Cap
Core
Equity
Fund
-
I
Class 
44,004‌
7,965‌
4,293‌
56,836‌
T.
Rowe
Price
International
Bond
Fund
-
I
Class,
3.54% 
25,310‌
5,385‌
—‌
30,113‌
T.
Rowe
Price
International
Bond
Fund
(USD
Hedged)
-
I
Class,
3.56% 
9,446‌
248‌
936‌
8,625‌
T.
Rowe
Price
Multi-Strategy
Total
Return
Fund
-
I
Class 
18,108‌
—‌
21,329‌
—‌
T.
Rowe
Price
Natural
Resources
ETF 
—‌
219‌
—‌
209‌
T.
Rowe
Price
Government
Reserve
Fund,
3.72%
8,096‌
 ¤
 ¤
20,940‌
T.
Rowe
Price
Treasury
Reserve
Fund,
3.70%
25,284‌
 ¤
 ¤
4,168‌
Total
$
222,726‌^
#
Capital
gain
distributions
from
underlying
Price
funds
represented
$338
of
the
net
realized
gain
(loss).
++
Excludes
earnings
on
securities
lending
collateral,
which
are
subject
to
rebates
and
fees.
+
Investment
income
comprised
$6,796
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
$210,395.
T.
ROWE
PRICE
Global
Allocation
Fund
Unaudited
Notes
to
the
Portfolio
of
Investments
96
T.
Rowe
Price
Global
Allocation
Fund,
Inc. (the
corporation)
is
registered
under
the
Investment
Company
Act
of
1940
(the
1940
Act). The
Global
Allocation
Fund
(the
fund)
is an open-end
management
investment
company
established
by
the
corporation
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.
Eastern
time,
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)
T.
ROWE
PRICE
Global
Allocation
Fund
97
Level
3
–
unobservable
inputs
(including
the Valuation
Designee’s assumptions
in
determining
fair
value)
Observable
inputs
are
developed
using
market
data,
such
as
publicly
available
information
about
actual
events
or
transactions,
and
reflect
the
assumptions
that
market
participants
would
use
to
price
the
financial
instrument.
Unobservable
inputs
are
those
for
which
market
data
are
not
available
and
are
developed
using
the
best
information
available
about
the
assumptions
that
market
participants
would
use
to
price
the
financial
instrument.
GAAP
requires
valuation
techniques
to
maximize
the
use
of
relevant
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
and
the
last
quoted
sale
or
closing
price
for
international
securities.
The
last
quoted
prices
of
non-U.S.
equity
securities
may
be
adjusted
to
reflect
the
fair
value
of
such
securities
at
the
close
of
the
NYSE,
if
the Valuation
Designee
determines
that
developments
between
the
close
of
a
foreign
market
and
the
close
of
the
NYSE
will
affect
the
value
of
some
or
all
of
its portfolio
securities.
Each
business
day,
the
Valuation
Designee uses
information
from
outside
pricing
services
to
evaluate
the
quoted
prices
of
portfolio
securities
and,
if
appropriate,
decides whether
it
is
necessary
to
adjust
quoted
prices
to
reflect
fair
value
by
reviewing
a
variety
of
factors,
including
developments
in
foreign
markets,
the
performance
of
U.S.
securities
markets,
and
the
performance
of
instruments
trading
in
U.S.
markets
that
represent
foreign
securities
and
baskets
of
foreign
securities. The Valuation
Designee
uses
outside
pricing
services
to
provide
it
with
quoted
prices
and
information
to
evaluate
or
adjust
T.
ROWE
PRICE
Global
Allocation
Fund
98
those
prices.
The Valuation
Designee
cannot
predict
how
often
it
will
use
quoted
prices
or how
often
it
will
determine
it
necessary
to
adjust
those
prices
to
reflect
fair
value.
Debt
securities
are
generally traded
in
the over-the-counter
(OTC)
market
and
are
valued
at
prices
furnished
by
independent
pricing
services
or
by
broker
dealers
who
make
markets
in
such
securities.
When
valuing
securities,
the
independent
pricing
services
consider
factors
such
as,
but
not
limited
to,
the
yield
or
price
of
bonds
of
comparable
quality,
coupon,
maturity,
and
type,
as
well
as
prices
quoted
by
dealers
who
make
markets
in
such
securities.
Investments
denominated
in
foreign
currencies
are
translated
into
U.S.
dollar
values
each
day
at
the
prevailing
exchange
rate,
using
the
mean
of
the
bid
and
asked
prices
of
such
currencies
against
U.S.
dollars
as
provided
by
an
outside
pricing
service.
Investments
in
mutual
funds
are
valued
at
the
mutual
fund’s
closing
NAV
per
share
on
the
day
of
valuation.
Investments
in
private
investment
companies
are
valued
at
the
investee’s
NAV
per
share
as
of
the
valuation
date,
if
available.
If
the
investee’s
NAV
is
not
available
as
of
the
valuation
date
or
is
not
calculated
in
accordance
with
GAAP,
the
Valuation Designee
may
adjust
the
investee’s
NAV
to
reflect
fair
value
at
the
valuation
date.
Listed
options,
and
OTC
options
with
a
listed
equivalent,
are
valued
at
the
mean
of
the
closing
bid
and
asked
prices
and
exchange-traded
options
on
futures
contracts
are
valued
at
closing
settlement
prices.
Futures
contracts
are
valued
at
closing
settlement
prices.
Forward
currency
exchange
contracts
are
valued
using
the
prevailing
forward
exchange
rate.
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
the
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
T.
ROWE
PRICE
Global
Allocation
Fund
99
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.
T.
ROWE
PRICE
Global
Allocation
Fund
100
Valuation
Inputs
  The
following
table
summarizes
the
fund’s
financial
instruments,
based
on
the
inputs
used
to
determine
their
fair
values
on
July
31,
2026
(for
further
detail
by
category,
please
refer
to
the
accompanying
Portfolio
of
Investments): 
($000s)
Level
1
Level
2
Level
3
Total
Value
Assets
Fixed
Income
Securities
1
$
—‌
$
95,330‌
$
—‌
$
95,330‌
Asset-Backed
Securities
—‌
6,018‌
81‌
6,099‌
Bond
Funds
140,573‌
—‌
—‌
140,573‌
Common
Stocks
288,063‌
171,587‌
508‌
460,158‌
Convertible
Bonds
—‌
—‌
6‌
6‌
Convertible
Preferred
Stocks
—‌
—‌
3,037‌
3,037‌
Equity
Funds
57,536‌
—‌
—‌
57,536‌
Non-U.S.
Government
Mortgage-Backed
Securities
—‌
3,683‌
82‌
3,765‌
Preferred
Stocks
—‌
195‌
111‌
306‌
Private
Investment
Companies
—‌
—‌
67,891‌
67,891‌
Short-Term
Investments
20,940‌
—‌
—‌
20,940‌
Securities
Lending
Collateral
4,168‌
—‌
—‌
4,168‌
Options
Purchased
—‌
113‌
—‌
113‌
Total
Securities
511,280‌
276,926‌
71,716‌
859,922‌
Swaps*
—‌
1,487‌
—‌
1,487‌
Forward
Currency
Exchange
Contracts
—‌
7‌
—‌
7‌
Total
$
511,280‌
$
278,420‌
$
71,716‌
$
861,416‌
Liabilities
Options
Written
$
—‌
$
167‌
$
—‌
$
167‌
Swaps*
—‌
1,272‌
—‌
1,272‌
Futures
Contracts*
314‌
—‌
—‌
314‌
Total
$
314‌
$
1,439‌
$
—‌
$
1,753‌
T.
ROWE
PRICE
Global
Allocation
Fund
101
Following
is
a
reconciliation
of
the
fund’s
Level
3
holdings
for
the
period ended
July
31,
2026.
Gain
(loss)
reflects
both
realized
and
change
in
unrealized
gain/
loss
on
Level
3
holdings
during
the
period,
if
any.
The
change
in
unrealized
gain/loss
on
Level
3
instruments
held
at
July
31,
2026,
totaled $6,941,000 for
the
period ended
July
31,
2026.
During
the
period,
transfers
out
of
Level
3
were
because
observable
market
data
became
available
for
the
security.
In
accordance
with
GAAP,
the
following
table
provides
quantitative
information
about
significant
unobservable
inputs
used
to
determine
the
fair
valuations
of
the
fund’s
Level
3
assets,
by
class
of
financial
instrument.
Because
the
Valuation
Designee
considers
a
wide
variety
of
factors
and
1
Includes
Corporate
Bonds,
Government
Bonds,
Municipal
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
and
centrally
cleared
swaps;
however,
the
net
value
reflected
on
the
accompanying
Portfolio
of
Investments
is
only
the
unsettled
variation
margin
receivable
(payable)
at
that
date.
($000s)
Beginning
Balance
10/31/25
Gain
(Loss)
During
Period
Total
Purchases
Total
Sales
Transfer
Out
of
Level
3
Ending
Balance
7/31/26
Investment
in
Securities
Asset-Backed
Securities
$
97‌
$
(21‌)
$
102‌
$
(97‌)
$
—‌
$
81‌
Common
Stocks
358‌
68‌
230‌
(147‌)
(1‌)
508‌
Convertible
Bonds
—‌
—‌
6‌
—‌
—‌
6‌
Convertible
Preferred
Stocks
2,368‌
130‌
539‌
—‌
—‌
3,037‌
Non-U.S.
Government
Mortgage-Backed
Securities
92‌
—‌
—‌
(10‌)
—‌
82‌
Preferred
Stocks
111‌
—‌
—‌
—‌
—‌
111‌
Private
Investment
Companies
60,136‌
6,755‌
1,000‌
—‌
—‌
67,891‌
Total
$
63,162‌
$
6,932‌
$
1,877‌
$
(254‌)
$
(1‌)
$
71,716‌
T.
ROWE
PRICE
Global
Allocation
Fund
102
inputs,
both
observable
and
unobservable,
in
determining
fair
values,
the
unobservable
inputs
presented
do
not
reflect
all
inputs
significant
to
the
fair
value
determination.
T.
ROWE
PRICE
Global
Allocation
Fund
103
Investments
in
Securities
Value
(000s)
Valuation
Technique(s)+
Significant
Unobservable
Input(s)
Value
or
Range
of
Input(s)
Weighted
Average
of
Input(s)*
Impact
to
Valuation
from
an
Increase
in
Input**
Asset-Backed
Securities
$81
Discounted
cash
flow
Discount
rate
5%
-
15%
13%
Decrease
Common
Stocks
$508
Recent
comparable
transaction
price(s)
-#
-#
-#
-#
Discount
for
uncertainty
25%
-
100%
25%
Decrease
Discount
for
lack
of
marketability
100%
100%
Decrease
Market
comparable
Enterprise
value
to
gross
profit
multiple
6.0x
-
12.3x
10.7x
Increase
Gross
profit
growth
rate
25%
25%
Increase
Enterprise
value
to
sales
multiple
4.3x
-
9.6x
8.3x
Increase
Sales
growth
rate
24%
24%
Increase
Premium
to
public
company
multiples
19%
-
26%
23%
Increase
Discount
to
public
company
multiples
13%
-
32%
23%
Decrease
Discount
for
lack
of
recoverability
100%
100%
Decrease
Convertible
Bonds
$6
Recent
comparable
transaction
price(s)
-#
-#
-#
-#
T.
ROWE
PRICE
Global
Allocation
Fund
104
Investments
in
Securities
Value
(000s)
Valuation
Technique(s)+
Significant
Unobservable
Input(s)
Value
or
Range
of
Input(s)
Weighted
Average
of
Input(s)*
Impact
to
Valuation
from
an
Increase
in
Input**
Convertible
Preferred
Stocks
$3,037
Recent
comparable
transaction
price(s)
-#
-#
-#
-#
Premium
for
liquidation
preference
-#
-#
-#
Private
company
valuation
-#
-#
-#
Discount
for
uncertainty
10%
-
25%
17%
Decrease
Market
comparable
Enterprise
value
to
sales
multiple
3.9x
-
9.6x
5.0x
Increase
Sales
growth
rate
24%
-
101%
100%
Increase
Enterprise
value
to
gross
profit
multiple
6.0x
-
12.3x
7.1x
Increase
Gross
profit
growth
rate
25%
25%
Increase
Enterprise
value
to
EBITDA
multiple
13.4x
-
16.3x
13.4x
Increase
Premium
to
public
company
multiples
19%
-
92%
61%
Increase
Cost
of
capital
25%
25%
Decrease
Discount
to
public
company
multiples
13%
-
32%
23%
Decrease
Discount
for
lack
of
recoverability
100%
100%
Decrease
T.
ROWE
PRICE
Global
Allocation
Fund
105
+
Valuation
techniques
may
change
in
order
to
reflect the
Valuation
Designee’s
judgment
of
current
market
participant
assumptions. 
*
Unobservable
inputs
were
weighted
by
the
relative
fair
value
of
the
instruments.
**
Represents
the
directional
change
in
the
fair
value
of
the
Level
3
investment(s)
that
would
have
resulted
from
an
increase
in
the
corresponding
input
at
period
end.
A
decrease
in
the
unobservable
input
would
have
had
the
opposite
effect.
Significant
increases
and
decreases
in
these
inputs
in
isolation
could
result
in
significantly
higher
or
lower
fair
value
measurements.
#
No
quantitative
unobservable
inputs
significant
to
the
valuation
technique
were
created
by
the
Valuation
Designee.
Investments
in
Securities
Value
(000s)
Valuation
Technique(s)+
Significant
Unobservable
Input(s)
Value
or
Range
of
Input(s)
Weighted
Average
of
Input(s)*
Impact
to
Valuation
from
an
Increase
in
Input**
Discount
for
lack
of
marketability
10%
10%
Decrease
Options
pricing
model
Private
company
valuation
-#
-#
-#
Risk-free
rate
5%
5%
Increase
Volatility
53%
-
58%
56%
Increase
Non-U.S.
Government
Mortgage-
Backed
Securities
$82
Discounted
cash
flow
Discount
rate
4%
4%
Decrease
Discount
spread
2%
2%
Decrease
Preferred
Stocks
$
111
Recent
comparable
transaction
price(s)
—#
—#
—#
—#
Private
Investment
Companies
$67,891
Rollforward
of
Investee
NAV
Estimated
return
0.12%
0.12%
Increase
T.
ROWE
PRICE
Global
Allocation
Fund
106
OTHER
MATTERS 
Unpredictable environmental,
political,
social
and
economic
events,
including
but
not
limited
to,
environmental
or
natural
disasters,
war
and
conflict,
terrorism,
geopolitical
and
regulatory
developments
(including
trading
and
tariff
arrangements),
and
public
health
epidemics
or
threats,
may
significantly
affect
the
economy
and
the
markets
and
issuers
in
which
a
fund
invests.
The
extent
and
duration
of
such
events
and
resulting
market
disruptions
cannot
be
predicted.
These
and
other
similar
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.
The
fund’s
performance
could
be
negatively
impacted
if
the
value
of
a
portfolio
holding
were
harmed
by
these
or
such
events.
F154-054Q3
07/26