# T. Rowe Price Associates, Inc.

> T. Rowe Price Associates, Inc. is an SEC-registered investment advisory firm in Baltimore, MD, registered since 1947, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated July 6, 2026.

- CRD: 105496
- Filed as: T. ROWE PRICE ASSOCIATES, INC.
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Baltimore, MD
- Filing period: October 2026
- Form ADV filing dated: July 6, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/105496
- AdvisorCensus page: https://advisorcensus.com/firm/t-rowe-price-associates-inc-baltimore-md-105496

## Quick answers

**How is T. Rowe Price Associates, Inc. compensated?**
On its Form ADV (Item 5.E, October 2026), T. Rowe Price Associates, Inc. reports these compensation arrangements: a percentage of assets under its management; performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is T. Rowe Price Associates, Inc. located?**
T. Rowe Price Associates, Inc.'s principal office is in Baltimore, MD, according to its Form ADV; the August 2026 filing also lists 5 other offices (Schedule D, Section 1.F).

**Is T. Rowe Price Associates, Inc. registered with the SEC or a state?**
T. Rowe Price Associates, Inc. is an SEC-registered investment advisory firm, registered since 1947. Status as filed: Approved. CRD 105496.

**How much does T. Rowe Price Associates, Inc. manage?**
T. Rowe Price Associates, Inc. reports $2,196,452,587,469 in regulatory assets under management in its Form ADV filing dated July 6, 2026 (100% discretionary).

**How have T. Rowe Price Associates, Inc.'s assets and staff changed since 2021?**
In the Form ADV data for T. Rowe Price Associates, Inc.: Regulatory assets under management: $1,817,230,190,842 in the October 2021 data and $2,196,452,587,469 in the October 2026 data, up 21%. Total employees: 3,746 in October 2021 and 3,760 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does T. Rowe Price Associates, Inc. serve?**
By number of clients on Form ADV Item 5.D: other (4,754); high net worth individuals (680); pooled investment vehicles (other than investment companies and business development companies) (379).

**Which custodians does T. Rowe Price Associates, Inc. use?**
T. Rowe Price Associates, Inc.'s most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Northern Trust Corporation, State Street Bank & Trust Company and The Bank of New York Mellon Corporation as custodians holding 10% or more of its separately managed account assets.

**Does T. Rowe Price Associates, Inc. report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/105496

**What changed in T. Rowe Price Associates, Inc.'s recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 533 to 545. Regulatory assets under management went from $1,934,233,243,730 to $2,196,452,587,469 (+14%). Changed its office addresses in San Francisco, CA. No longer lists an office in New York, NY. No longer lists an office in Owings Mills, MD.

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Custodians (Schedule D, Section 5.K(3))
- Northern Trust Corporation
- State Street Bank & Trust Company
- The Bank of New York Mellon Corporation

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $2,196,452,587,469
- Discretionary: $2,196,452,587,469
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 181 | $0 |
| High net worth individuals | 680 | $5,138,428,857 |
| Banking or thrift institutions | Fewer than 5 | $348,554,965 |
| Investment companies | 355 | $1,182,598,559,774 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 379 | $797,526,867,381 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 214 | $68,533,088,297 |
| Charitable organizations | 76 | $1,849,051,320 |
| State or municipal government entities (including government pension plans) | 92 | $53,871,472,084 |
| Other investment advisers | Fewer than 5 | $95,736,574 |
| Insurance companies | 56 | $30,472,048,038 |
| Sovereign wealth funds and foreign official institutions | 12 | $26,205,484,195 |
| Corporations or other businesses not listed above | 88 | $13,585,415,644 |
| Other | 4,754 | $16,227,880,340 |

### Advisory services (Item 5.G)
- Portfolio management for individuals and/or small businesses
- Portfolio management for investment companies (and business development companies)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients
- Selection of other advisers (including private fund managers)

### Firm details
- Registered since: 1947 (79 years)
- Employees: 3,760 total, 545 performing advisory functions
- Wrap fee program participation: Yes
- States registered or notice-filed: AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VA, VI, VT, WA, WI, WV, WY
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the August 2026 filing
- Colorado Springs, CO
- New York, NY
- Owings Mills, MD
- San Francisco, CA
- Washington, DC

### Websites listed on Form ADV (Item 1.I)
- troweprice.com

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $1,817,230,190,842 | 3,746 | March 29, 2021 |
| October 2022 | $2,010,431,989,852 | 3,707 | May 13, 2022 |
| October 2023 | $1,506,538,334,571 | 3,722 | May 19, 2023 |
| October 2024 | $1,752,267,028,988 | 3,814 | August 26, 2024 |
| October 2025 | $1,934,233,243,730 | 3,947 | March 31, 2025 |
| October 2026 | $2,196,452,587,469 | 3,760 | July 6, 2026 |

Regulatory assets under management: $1,817,230,190,842 in the October 2021 data and $2,196,452,587,469 in the October 2026 data, up 21%.
Total employees: 3,746 in October 2021 and 3,760 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 533 to 545.
- Regulatory assets under management went from $1,934,233,243,730 to $2,196,452,587,469 (+14%).
- Changed its office addresses in San Francisco, CA.
- No longer lists an office in New York, NY.
- No longer lists an office in Owings Mills, MD.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. T. Rowe Price Associates, Inc. (CRD 105496): Form ADV filing data as of October 2026.