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Name

As of 11/06/2026

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

T. Rowe Price Tax-Efficient Equity Fund

PREFX | Fund

$85.58

$1.55 B

0.00%

0.68%

Vitals

YTD Return

-1.9%

1 yr return

-1.8%

3 Yr Avg Return

18.1%

5 Yr Avg Return

7.1%

Net Assets

$1.55 B

Holdings in Top 10

55.1%

52 WEEK LOW AND HIGH

$84.5
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.68%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 9.60%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$2,500

IRA

$1,000

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 11/06/2026

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

T. Rowe Price Tax-Efficient Equity Fund

PREFX | Fund

$85.58

$1.55 B

0.00%

0.68%

PREFX - Profile

Distributions

  • YTD Total Return -1.9%
  • 3 Yr Annualized Total Return 18.1%
  • 5 Yr Annualized Total Return 7.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.25%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annual

Fund Details

  • Legal Name
    T. Rowe Price Tax-Efficient Equity Fund
  • Fund Family Name
    TROWEPRICE
  • Inception Date
    Dec 29, 2000
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Donald Peters

Fund Description

In the Summary Prospectus, and Sections 1 and 2 of the Prospectus, the disclosure under “Principal Investment Strategies” is supplemented as follows:

The fund is nondiversified, which means it may invest a greater percentage of its assets in a particular issuer than is permissible for a diversified fund.

Read More

PREFX - Performance

Return Ranking - Trailing

Period PREFX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.9% -21.1% 793.0% 59.62%
1 Yr -1.8% -20.7% 791.0% 58.01%
3 Yr 18.1%* 3.6% 133.5% 40.18%
5 Yr 7.1%* -12.7% 56.5% 45.74%
10 Yr 15.5%* 6.5% 41.0% 30.14%

* Annualized

Return Ranking - Calendar

Period PREFX Return Category Return Low Category Return High Rank in Category (%)
2025 16.3% -74.1% 41.2% 12.88%
2024 31.3% -59.2% 52.3% 16.20%
2023 36.1% -15.0% 65.7% 37.17%
2022 -31.1% -85.9% 27.3% 33.09%
2021 19.7% -52.4% 38.7% 16.55%

Total Return Ranking - Trailing

Period PREFX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.9% -21.1% 793.0% 59.62%
1 Yr -1.8% -20.7% 791.0% 58.01%
3 Yr 18.1%* 3.6% 133.5% 40.18%
5 Yr 7.1%* -12.7% 56.5% 45.74%
10 Yr 15.5%* 6.5% 41.0% 30.14%

* Annualized

Total Return Ranking - Calendar

Period PREFX Return Category Return Low Category Return High Rank in Category (%)
2025 16.3% -4.9% 41.8% 42.66%
2024 32.4% -31.9% 52.3% 31.69%
2023 37.0% -4.6% 65.7% 52.63%
2022 -30.5% -61.7% 35.0% 48.36%
2021 22.2% -39.8% 40.0% 49.22%

NAV & Total Return History

PREFX - Holdings

Concentration Analysis

PREFX Category Low Category High PREFX % Rank
Net Assets 1.55 B 1.46 M 464 B 55.58%
Number of Holdings 399 2 2983 3.02%
Net Assets in Top 10 835 M 1.6 M 229 B 56.34%
Weighting of Top 10 55.14% 9.7% 205.0% 37.24%

Top 10 Holdings

  1. NVIDIA CORP 14.22%
  2. ALPHABET INC 10.17%
  3. APPLE INC 7.26%
  4. MICROSOFT CORP 6.16%
  5. BROADCOM INC 4.73%
  6. MICRON TECHNOLOGY INC 2.68%
  7. ELI LILLY CO 2.58%
  8. META PLATFORMS INC 2.56%
  9. TESLA INC 2.43%
  10. ADVANCED MICRO DEVICES INC 2.33%

Asset Allocation

Weighting Return Low Return High PREFX % Rank
Stocks 		99.39% 0.00% 114.42% 37.93%
Preferred Stocks 		0.58% 0.00% 4.87% 15.39%
Cash 		0.32% 0.00% 173.52% 70.82%
Other 		0.00% -30.72% 45.61% 51.51%
Convertible Bonds 		0.00% 0.00% 1.94% 39.31%
Bonds 		0.00% 0.00% 98.24% 40.95%

Stock Sector Breakdown

Weighting Return Low Return High PREFX % Rank
Technology 		38.11% 0.00% 61.89% 38.41%
Consumer Cyclical 		16.14% 0.00% 62.57% 45.67%
Healthcare 		12.98% 0.00% 39.76% 47.58%
Communication Services 		9.96% 0.00% 66.40% 56.75%
Financial Services 		8.96% 0.00% 43.06% 50.50%
Industrials 		7.15% 0.00% 30.65% 38.91%
Consumer Defense 		2.78% 0.00% 25.50% 62.30%
Basic Materials 		2.32% 0.00% 18.91% 26.41%
Real Estate 		0.93% 0.00% 8.88% 52.02%
Energy 		0.68% 0.00% 41.09% 47.28%
Utilities 		0.00% 0.00% 16.07% 57.66%

Stock Geographic Breakdown

Weighting Return Low Return High PREFX % Rank
US 		99.39% 0.00% 114.42% 31.09%
Non US 		0.00% 0.00% 40.37% 53.22%

PREFX - Expenses

Operational Fees

PREFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.68% 0.01% 13.08% 71.69%
Management Fee 0.63% 0.00% 1.50% 53.96%
12b-1 Fee N/A 0.00% 1.00% 1.78%
Administrative Fee N/A 0.01% 1.02% 65.92%

Sales Fees

PREFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.25% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

PREFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% 71.93%

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

PREFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 9.60% 0.00% 316.74% 9.12%

PREFX - Distributions

Dividend Yield Analysis

PREFX Category Low Category High PREFX % Rank
Dividend Yield 0.00% 0.00% 27.58% 67.10%

Dividend Distribution Analysis

PREFX Category Low Category High Category Mod
Dividend Distribution Frequency Annual Annual Annual Annual

Net Income Ratio Analysis

PREFX Category Low Category High PREFX % Rank
Net Income Ratio -0.25% -6.13% 3.48% 43.56%

Capital Gain Distribution Analysis

PREFX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

View More +

PREFX - Fund Manager Analysis

Managers

Donald Peters

Start Date

Tenure

Tenure Rank

Dec 29, 2000

21.43

21.4%

Donald J. Peters is a portfolio manager in the U.S. Equity Division of T. Rowe Price. He manages major institutional relationships in the structured active and tax-efficient strategies. He is a vice president of T. Rowe Price Group, Inc. Mr. Peters has been in investment industry since 1986 and has been with T. Rowe Price since 1993. Prior to joining the firm in 1993, he was a portfolio manager for Geewax, Terker and Company. Mr. Peters is a former naval officer and was interviewed and selected by Admiral Hyman G. Rickover to work at his headquarters for the Navy's nuclear propulsion program. Mr. Peters earned a B.A., summa cum laude, in economics from Tulane University and an M.B.A. in finance from The Wharton School, University of Pennsylvania. He is also a member of Phi Beta Kappa. Mr. Peters is the author of "Valuing a Growth Stock," Journal of Portfolio Management, Spring 1991; "Are Earnings Surprises Predictable?," Journal of Investing, Summer 1993; "The Influence of Size on Earnings Surprise Predictability," Journal of Investing, Winter 1993; (with Richard T. Whitney) "The Changing Balance of Power Between the Buy and Sell Sides," Journal of Investing, Fall 1996; (with Mary J. Miller) "Taxable Investors Need Different Strategies," Journal of Investing, Fall 1998; "What a Portfolio Manager Needs to Successfully Implement a Tax Efficient Strategy," Journal of Investing, Spring 2003; (with Sudhir Nanda) "A Very Long-Term Buy-and-Hold Portfolio," Journal of Portfolio Management, Spring 2006; "Taxable Investors Deserve Better," Journal of Investing, Spring 2017; and A Contrarian Strategy for Growth Stock Investing, Quorum Books, 1993. Mr. Peters is a trustee and chairman of the Investment Committee of the Baltimore Museum of Art. He is also a member of Tulane University's President's Council.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 54.45 8.32 2.92

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