Fund info

T. Rowe Price Capital Appreciation Fund Advisor Class is a multi-asset mutual fund designed for investors seeking long-term capital growth. Structured as a moderate allocation fund, it primarily invests at least half of its assets in equities—mostly established U.S. companies with strong potential for appreciation—while allocating the remainder to fixed income instruments such as government and corporate bonds, and occasionally convertible securities or cash equivalents. This flexible approach allows the fund to adjust its risk profile in response to market conditions and to help preserve principal value during periods of uncertainty. The fund is managed by a team led by David Giroux, known for consistent outperformance relative to peers in the moderate allocation category. With a large and diverse asset base, notable holdings include leading companies in the technology, healthcare, and consumer sectors, as well as allocations to U.S. Treasury notes. The fund’s balanced strategy and careful security selection have established its reputation as a core holding for investors seeking a blend of growth and risk management within their portfolios.