T. Rowe Price Index Trust Inc.
02/25/2026 | Press release | Distributed by Public on 02/25/2026 08:10
Annual Report by Investment Company (Form N-CSR)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act File Number: 811-05986
T. Rowe Price Index Trust, Inc.
(Exact name of registrant as specified in charter)
1307 Point Street, Baltimore, MD 21231
(Address of principal executive offices)
David Oestreicher
1307 Point Street, Baltimore, MD 21231
(Name and address of agent for service)
Registrant's telephone number, including area code: (410) 345-2000
Date of fiscal year end: December 31
Date of reporting period: December 31, 2025
Item 1. Reports to Shareholders
(a) Report pursuant to Rule 30e-1
Annual Shareholder Report
December 31, 2025
Small-Cap Index Fund
Investor Class (TRSYX)
This annual shareholder report contains important information about Small-Cap Index Fund (the "fund") for the period of January 1, 2025 to December 31, 2025. You can find the fund's prospectus, financial information on Form N-CSR (which includes required tax information for dividends), holdings, proxy voting information, and other information atwww.troweprice.com/prospectus. You can also request this information without charge by contacting T. Rowe Price at 1-800-638-5660 or [email protected]or contacting your intermediary.
What were the fund costs for the last year? (based on a hypothetical $10,000 investment)
|
Costs of a $10,000 investment
|
Costs paid as a percentage of a $10,000 investment
|
|
|
Small-Cap Index Fund - Investor Class
|
$31
|
0.29%
|
What drove fund performance during the past 12 months?
-
Small-cap U.S. stocks produced strong gains in 2025. After a challenging start to the year stemming from new U.S. tariffs, equities advanced as economic growth and corporate earnings remained favorable, investors favored artificial intelligence-related and other high-growth businesses, and Congress passed tax legislation that should help stimulate the economy. In addition, signs of a weakening labor market prompted the Federal Reserve to resume reducing short-term interest rates in the latter part of the year. The central bank lowered rates in September, October, and December.
-
Health care names produced robust results during the period, as biotechnology firms drove absolute returns. BridgeBio Pharma and Insmed were the top performers in the segment. Industrials and business services also contributed to returns; aerospace and defense companies performed particularly well.
-
Conversely, energy detracted from absolute returns the most during the reporting period, albeit modestly. Energy equipment and services names hurt the most, with Cactus performing worst. Consumer staples detracted to a lesser extent, as food products companies performed poorly.
-
The fund, which is not available for direct purchase by members of the public, employs a full replication strategy, which involves investing substantially all of its assets in all of the stocks in the index and seeking to maintain holdings of each stock in proportion to its weight in the Russell 2000 Index. By replicating the structure of the index, our intention is to closely track its performance.
How has the fund performed?
Cumulative Returns of a Hypothetical $10,000 Investment as of December 31, 2025
|
Investor Class
|
Regulatory Benchmark
|
Strategy Benchmark
|
|
|
2015
|
10,000
|
10,000
|
10,000
|
|
2016
|
9,839
|
10,097
|
9,848
|
|
2016
|
10,212
|
10,362
|
10,222
|
|
2016
|
11,130
|
10,818
|
11,146
|
|
2016
|
12,105
|
11,274
|
12,131
|
|
2017
|
12,405
|
11,921
|
12,430
|
|
2017
|
12,695
|
12,280
|
12,736
|
|
2017
|
13,419
|
12,842
|
13,458
|
|
2017
|
13,862
|
13,656
|
13,908
|
|
2018
|
13,839
|
13,568
|
13,896
|
|
2018
|
14,906
|
14,095
|
14,973
|
|
2018
|
15,428
|
15,099
|
15,509
|
|
2018
|
12,302
|
12,940
|
12,376
|
|
2019
|
14,088
|
14,757
|
14,181
|
|
2019
|
14,378
|
15,361
|
14,478
|
|
2019
|
14,028
|
15,540
|
14,130
|
|
2019
|
15,415
|
16,954
|
15,535
|
|
2020
|
10,689
|
13,410
|
10,779
|
|
2020
|
13,406
|
16,364
|
13,519
|
|
2020
|
14,063
|
17,871
|
14,185
|
|
2020
|
18,479
|
20,495
|
18,636
|
|
2021
|
20,789
|
21,796
|
21,002
|
|
2021
|
21,664
|
23,592
|
21,904
|
|
2021
|
20,711
|
23,568
|
20,949
|
|
2021
|
21,125
|
25,754
|
21,397
|
|
2022
|
19,547
|
24,395
|
19,787
|
|
2022
|
16,166
|
20,321
|
16,385
|
|
2022
|
15,807
|
19,413
|
16,026
|
|
2022
|
16,778
|
20,808
|
17,024
|
|
2023
|
17,235
|
22,302
|
17,491
|
|
2023
|
18,122
|
24,172
|
18,401
|
|
2023
|
17,181
|
23,386
|
17,457
|
|
2023
|
19,589
|
26,209
|
19,906
|
|
2024
|
20,582
|
28,835
|
20,938
|
|
2024
|
19,902
|
29,762
|
20,251
|
|
2024
|
21,738
|
31,616
|
22,129
|
|
2024
|
21,791
|
32,448
|
22,203
|
|
2025
|
19,723
|
30,916
|
20,099
|
|
2025
|
21,385
|
34,314
|
21,807
|
|
2025
|
24,012
|
37,120
|
24,510
|
|
2025
|
24,520
|
38,012
|
25,047
|
202501-4140694, 202601-5113325
F33-052 2/26
Average Annual Total Returns
|
1 Year
|
5 Years
|
10 Years
|
|
|
Small-Cap Index Fund (Investor Class)
|
12.53%
|
5.82%
|
9.38%
|
|
Russell 3000 Index (Regulatory Benchmark)
|
17.15
|
13.15
|
14.29
|
|
Russell 2000 Index (Strategy Benchmark)
|
12.81
|
6.09
|
9.62
|
The preceding line graph shows the value of a hypothetical $10,000 investment in the fund over the past 10 fiscal year periods or since inception (for funds lacking 10-year records). The fund's performance information included in the line graph and table above is compared with a regulatory required index that represents an overall securities market (Regulatory Benchmark). In addition, the line graph and table may also include one or more indexes that more closely aligns to the fund's investment strategy (Strategy Benchmark(s)). The fund's total return figures reflect the reinvestment of dividends and capital gains, if any.Neither the fund's returns nor the index returns reflect the deduction of taxes that a shareholder would pay on fund distributions or redemptions of fund shares.The fund's past performance is not a good predictor of the fund's future performance.Updated performance information can be found at www.troweprice.com.
What are some fund statistics?
Fund Statistics
- Total Net Assets (000s)$306,542
- Number of Portfolio Holdings1,972
- Investment Advisory Fees Paid (000s)$(191)
- Portfolio Turnover Rate19.9%
What did the fund invest in?
Sector Allocation (as a % of Net Assets)
|
Health Care
|
18.6%
|
|
Financials
|
17.5
|
|
Industrials & Business Services
|
17.3
|
|
Information Technology
|
14.5
|
|
Consumer Discretionary
|
9.0
|
|
Real Estate
|
5.7
|
|
Energy
|
4.8
|
|
Materials
|
4.4
|
|
Utilities
|
3.1
|
|
Other
|
5.1
|
Top Ten Holdings(as a % of Net Assets)
|
Credo Technology Group Holding
|
0.8%
|
|
Bloom Energy
|
0.7
|
|
Fabrinet
|
0.6
|
|
IonQ
|
0.5
|
|
EchoStar
|
0.5
|
|
Nextpower
|
0.4
|
|
Kratos Defense & Security Solutions
|
0.4
|
|
Guardant Health
|
0.4
|
|
Hecla Mining
|
0.4
|
|
Bridgebio Pharma
|
0.4
|
If you invest directly with T. Rowe Price, you can elect to receive future shareholder reports or other important documents through electronic delivery by enrolling at www.troweprice.com/paperless. If you invest through a financial intermediary such as an investment advisor, a bank, retirement plan sponsor or a brokerage firm, please contact that organization and ask if it can provide electronic delivery.
Frank Russell Company "LSE" does not accept any liability for any errors or omissions in the indexes or data, and hereby expressly disclaim all warranties of originality, accuracy, completeness, timeliness, merchantability and fitness for a particular purpose. No party may rely on any indexes or data contained in this communication. Visit www.troweprice.com/en/us/market-data-disclosures for additional legal notices & disclaimers.
Small-Cap Index Fund
Investor Class (TRSYX)
T. Rowe Price Investment Services, Inc.
1307 Point Street
Baltimore, Maryland 21231
Annual Shareholder Report
December 31, 2025
Small-Cap Index Fund
I Class (TRCSX)
This annual shareholder report contains important information about Small-Cap Index Fund (the "fund") for the period of January 1, 2025 to December 31, 2025. You can find the fund's prospectus, financial information on Form N-CSR (which includes required tax information for dividends), holdings, proxy voting information, and other information atwww.troweprice.com/prospectus. You can also request this information without charge by contacting T. Rowe Price at 1-800-638-5660 or [email protected]or contacting your intermediary.
What were the fund costs for the last year? (based on a hypothetical $10,000 investment)
|
Costs of a $10,000 investment
|
Costs paid as a percentage of a $10,000 investment
|
|
|
Small-Cap Index Fund - I Class
|
$15
|
0.14%
|
What drove fund performance during the past 12 months?
-
Small-cap U.S. stocks produced strong gains in 2025. After a challenging start to the year stemming from new U.S. tariffs, equities advanced as economic growth and corporate earnings remained favorable, investors favored artificial intelligence-related and other high-growth businesses, and Congress passed tax legislation that should help stimulate the economy. In addition, signs of a weakening labor market prompted the Federal Reserve to resume reducing short-term interest rates in the latter part of the year. The central bank lowered rates in September, October, and December.
-
Health care names produced robust results during the period, as biotechnology firms drove absolute returns. BridgeBio Pharma and Insmed were the top performers in the segment. Industrials and business services also contributed to returns; aerospace and defense companies performed particularly well.
-
Conversely, energy detracted from absolute returns the most during the reporting period, albeit modestly. Energy equipment and services names hurt the most, with Cactus performing worst. Consumer staples detracted to a lesser extent, as food products companies performed poorly.
-
The fund, which is not available for direct purchase by members of the public, employs a full replication strategy, which involves investing substantially all of its assets in all of the stocks in the index and seeking to maintain holdings of each stock in proportion to its weight in the Russell 2000 Index. By replicating the structure of the index, our intention is to closely track its performance.
How has the fund performed?
Cumulative Returns of a Hypothetical $10,000 Investment as of December 31, 2025
|
I Class
|
Regulatory Benchmark
|
Strategy Benchmark
|
|
|
2015
|
10,000
|
10,000
|
10,000
|
|
2016
|
9,849
|
10,097
|
9,848
|
|
2016
|
10,222
|
10,362
|
10,222
|
|
2016
|
11,140
|
10,818
|
11,146
|
|
2016
|
12,126
|
11,274
|
12,131
|
|
2017
|
12,426
|
11,921
|
12,430
|
|
2017
|
12,726
|
12,280
|
12,736
|
|
2017
|
13,451
|
12,842
|
13,458
|
|
2017
|
13,893
|
13,656
|
13,908
|
|
2018
|
13,882
|
13,568
|
13,896
|
|
2018
|
14,962
|
14,095
|
14,973
|
|
2018
|
15,496
|
15,099
|
15,509
|
|
2018
|
12,350
|
12,940
|
12,376
|
|
2019
|
14,156
|
14,757
|
14,181
|
|
2019
|
14,447
|
15,361
|
14,478
|
|
2019
|
14,108
|
15,540
|
14,130
|
|
2019
|
15,512
|
16,954
|
15,535
|
|
2020
|
10,756
|
13,410
|
10,779
|
|
2020
|
13,495
|
16,364
|
13,519
|
|
2020
|
14,168
|
17,871
|
14,185
|
|
2020
|
18,614
|
20,495
|
18,636
|
|
2021
|
20,958
|
21,796
|
21,002
|
|
2021
|
21,849
|
23,592
|
21,904
|
|
2021
|
20,893
|
23,568
|
20,949
|
|
2021
|
21,336
|
25,754
|
21,397
|
|
2022
|
19,737
|
24,395
|
19,787
|
|
2022
|
16,325
|
20,321
|
16,385
|
|
2022
|
15,979
|
19,413
|
16,026
|
|
2022
|
16,966
|
20,808
|
17,024
|
|
2023
|
17,426
|
22,302
|
17,491
|
|
2023
|
18,332
|
24,172
|
18,401
|
|
2023
|
17,399
|
23,386
|
17,457
|
|
2023
|
19,836
|
26,209
|
19,906
|
|
2024
|
20,851
|
28,835
|
20,938
|
|
2024
|
20,165
|
29,762
|
20,251
|
|
2024
|
22,029
|
31,616
|
22,129
|
|
2024
|
22,097
|
32,448
|
22,203
|
|
2025
|
20,008
|
30,916
|
20,099
|
|
2025
|
21,702
|
34,314
|
21,807
|
|
2025
|
24,371
|
37,120
|
24,510
|
|
2025
|
24,901
|
38,012
|
25,047
|
202501-4140694, 202601-5113325
F541-052 2/26
Average Annual Total Returns
|
1 Year
|
5 Years
|
10 Years
|
|
|
Small-Cap Index Fund (I Class)
|
12.69%
|
5.99%
|
9.55%
|
|
Russell 3000 Index (Regulatory Benchmark)
|
17.15
|
13.15
|
14.29
|
|
Russell 2000 Index (Strategy Benchmark)
|
12.81
|
6.09
|
9.62
|
The preceding line graph shows the value of a hypothetical $10,000 investment in the fund over the past 10 fiscal year periods or since inception (for funds lacking 10-year records). The fund's performance information included in the line graph and table above is compared with a regulatory required index that represents an overall securities market (Regulatory Benchmark). In addition, the line graph and table may also include one or more indexes that more closely aligns to the fund's investment strategy (Strategy Benchmark(s)). The fund's total return figures reflect the reinvestment of dividends and capital gains, if any.Neither the fund's returns nor the index returns reflect the deduction of taxes that a shareholder would pay on fund distributions or redemptions of fund shares.The fund's past performance is not a good predictor of the fund's future performance.Updated performance information can be found at www.troweprice.com.
What are some fund statistics?
Fund Statistics
- Total Net Assets (000s)$306,542
- Number of Portfolio Holdings1,972
- Investment Advisory Fees Paid (000s)$(191)
- Portfolio Turnover Rate19.9%
What did the fund invest in?
Sector Allocation (as a % of Net Assets)
|
Health Care
|
18.6%
|
|
Financials
|
17.5
|
|
Industrials & Business Services
|
17.3
|
|
Information Technology
|
14.5
|
|
Consumer Discretionary
|
9.0
|
|
Real Estate
|
5.7
|
|
Energy
|
4.8
|
|
Materials
|
4.4
|
|
Utilities
|
3.1
|
|
Other
|
5.1
|
Top Ten Holdings(as a % of Net Assets)
|
Credo Technology Group Holding
|
0.8%
|
|
Bloom Energy
|
0.7
|
|
Fabrinet
|
0.6
|
|
IonQ
|
0.5
|
|
EchoStar
|
0.5
|
|
Nextpower
|
0.4
|
|
Kratos Defense & Security Solutions
|
0.4
|
|
Guardant Health
|
0.4
|
|
Hecla Mining
|
0.4
|
|
Bridgebio Pharma
|
0.4
|
If you invest directly with T. Rowe Price, you can elect to receive future shareholder reports or other important documents through electronic delivery by enrolling at www.troweprice.com/paperless. If you invest through a financial intermediary such as an investment advisor, a bank, retirement plan sponsor or a brokerage firm, please contact that organization and ask if it can provide electronic delivery.
Frank Russell Company "LSE" does not accept any liability for any errors or omissions in the indexes or data, and hereby expressly disclaim all warranties of originality, accuracy, completeness, timeliness, merchantability and fitness for a particular purpose. No party may rely on any indexes or data contained in this communication. Visit www.troweprice.com/en/us/market-data-disclosures for additional legal notices & disclaimers.
Small-Cap Index Fund
I Class (TRCSX)
T. Rowe Price Investment Services, Inc.
1307 Point Street
Baltimore, Maryland 21231
Annual Shareholder Report
December 31, 2025
Small-Cap Index Fund
Z Class (TRZIX)
This annual shareholder report contains important information about Small-Cap Index Fund (the "fund") for the period of January 1, 2025 to December 31, 2025. You can find the fund's prospectus, financial information on Form N-CSR (which includes required tax information for dividends), holdings, proxy voting information, and other information atwww.troweprice.com/prospectus. You can also request this information without charge by contacting T. Rowe Price at 1-800-638-5660 or [email protected]or contacting your intermediary.
What were the fund costs for the last year? (based on a hypothetical $10,000 investment)
|
Costs of a $10,000 investment
|
Costs paid as a percentage of a $10,000 investment
|
|
|
Small-Cap Index Fund - Z Class
|
$0
|
0.00%
|
What drove fund performance during the past 12 months?
-
Small-cap U.S. stocks produced strong gains in 2025. After a challenging start to the year stemming from new U.S. tariffs, equities advanced as economic growth and corporate earnings remained favorable, investors favored artificial intelligence-related and other high-growth businesses, and Congress passed tax legislation that should help stimulate the economy. In addition, signs of a weakening labor market prompted the Federal Reserve to resume reducing short-term interest rates in the latter part of the year. The central bank lowered rates in September, October, and December.
-
Health care names produced robust results during the period, as biotechnology firms drove absolute returns. BridgeBio Pharma and Insmed were the top performers in the segment. Industrials and business services also contributed to returns; aerospace and defense companies performed particularly well.
-
Conversely, energy detracted from absolute returns the most during the reporting period, albeit modestly. Energy equipment and services names hurt the most, with Cactus performing worst. Consumer staples detracted to a lesser extent, as food products companies performed poorly.
-
The fund, which is not available for direct purchase by members of the public, employs a full replication strategy, which involves investing substantially all of its assets in all of the stocks in the index and seeking to maintain holdings of each stock in proportion to its weight in the Russell 2000 Index. By replicating the structure of the index, our intention is to closely track its performance.
How has the fund performed?
Cumulative Returns of a Hypothetical $10,000 Investment as of December 31, 2025
|
Z Class
|
Regulatory Benchmark
|
Strategy Benchmark
|
|
|
3/16/20
|
10,000
|
10,000
|
10,000
|
|
3/31/20
|
11,146
|
10,865
|
11,127
|
|
6/30/20
|
13,992
|
13,259
|
13,955
|
|
9/30/20
|
14,690
|
14,480
|
14,643
|
|
12/31/20
|
19,322
|
16,606
|
19,237
|
|
3/31/21
|
21,758
|
17,659
|
21,680
|
|
6/30/21
|
22,683
|
19,115
|
22,610
|
|
9/30/21
|
21,703
|
19,095
|
21,624
|
|
12/31/21
|
22,164
|
20,867
|
22,088
|
|
3/31/22
|
20,515
|
19,765
|
20,425
|
|
6/30/22
|
16,980
|
16,464
|
16,913
|
|
9/30/22
|
16,620
|
15,729
|
16,543
|
|
12/31/22
|
17,655
|
16,859
|
17,574
|
|
3/31/23
|
18,148
|
18,069
|
18,055
|
|
6/30/23
|
19,092
|
19,585
|
18,995
|
|
9/30/23
|
18,120
|
18,948
|
18,020
|
|
12/31/23
|
20,668
|
21,235
|
20,549
|
|
3/31/24
|
21,740
|
23,362
|
21,613
|
|
6/30/24
|
21,025
|
24,114
|
20,905
|
|
9/30/24
|
22,983
|
25,616
|
22,843
|
|
12/31/24
|
23,067
|
26,290
|
22,919
|
|
3/31/25
|
20,885
|
25,049
|
20,747
|
|
6/30/25
|
22,654
|
27,802
|
22,510
|
|
9/30/25
|
25,469
|
30,075
|
25,300
|
|
12/31/25
|
26,038
|
30,798
|
25,855
|
202501-4140694, 202601-5113325
F1267-052 2/26
Average Annual Total Returns
|
1 Year
|
5 Years
|
Since Inception 3/16/20
|
|
|
Small-Cap Index Fund (Z Class)
|
12.88%
|
6.15%
|
17.96%
|
|
Russell 3000 Index (Regulatory Benchmark)
|
17.15
|
13.15
|
21.42
|
|
Russell 2000 Index (Strategy Benchmark)
|
12.81
|
6.09
|
17.81
|
The preceding line graph shows the value of a hypothetical $10,000 investment in the fund over the past 10 fiscal year periods or since inception (for funds lacking 10-year records). The fund's performance information included in the line graph and table above is compared with a regulatory required index that represents an overall securities market (Regulatory Benchmark). In addition, the line graph and table may also include one or more indexes that more closely aligns to the fund's investment strategy (Strategy Benchmark(s)). The fund's total return figures reflect the reinvestment of dividends and capital gains, if any.Neither the fund's returns nor the index returns reflect the deduction of taxes that a shareholder would pay on fund distributions or redemptions of fund shares.The fund's past performance is not a good predictor of the fund's future performance.Updated performance information can be found at www.troweprice.com.
What are some fund statistics?
Fund Statistics
- Total Net Assets (000s)$306,542
- Number of Portfolio Holdings1,972
- Investment Advisory Fees Paid (000s)$(191)
- Portfolio Turnover Rate19.9%
What did the fund invest in?
Sector Allocation (as a % of Net Assets)
|
Health Care
|
18.6%
|
|
Financials
|
17.5
|
|
Industrials & Business Services
|
17.3
|
|
Information Technology
|
14.5
|
|
Consumer Discretionary
|
9.0
|
|
Real Estate
|
5.7
|
|
Energy
|
4.8
|
|
Materials
|
4.4
|
|
Utilities
|
3.1
|
|
Other
|
5.1
|
Top Ten Holdings(as a % of Net Assets)
|
Credo Technology Group Holding
|
0.8%
|
|
Bloom Energy
|
0.7
|
|
Fabrinet
|
0.6
|
|
IonQ
|
0.5
|
|
EchoStar
|
0.5
|
|
Nextpower
|
0.4
|
|
Kratos Defense & Security Solutions
|
0.4
|
|
Guardant Health
|
0.4
|
|
Hecla Mining
|
0.4
|
|
Bridgebio Pharma
|
0.4
|
If you invest directly with T. Rowe Price, you can elect to receive future shareholder reports or other important documents through electronic delivery by enrolling at www.troweprice.com/paperless. If you invest through a financial intermediary such as an investment advisor, a bank, retirement plan sponsor or a brokerage firm, please contact that organization and ask if it can provide electronic delivery.
Frank Russell Company "LSE" does not accept any liability for any errors or omissions in the indexes or data, and hereby expressly disclaim all warranties of originality, accuracy, completeness, timeliness, merchantability and fitness for a particular purpose. No party may rely on any indexes or data contained in this communication. Visit www.troweprice.com/en/us/market-data-disclosures for additional legal notices & disclaimers.
Small-Cap Index Fund
Z Class (TRZIX)
T. Rowe Price Investment Services, Inc.
1307 Point Street
Baltimore, Maryland 21231
Item 1. (b) Notice pursuant to Rule 30e-3.
Not applicable.
Item 2. Code of Ethics.
The registrant has adopted a code of ethics, as defined in Item 2 of Form N-CSR,applicable to its principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions. A copy of this code of ethics is filed as an exhibit to this Form N-CSR.No substantive amendments were approved or waivers were granted to this code of ethics during the period covered by this report.
Item 3. Audit Committee Financial Expert.
The registrant's Board of Directors has determined that Mr. Paul F. McBride qualifies as an audit committee financial expert, as defined in Item 3 of Form N-CSR.Mr. McBride is considered independent for purposes of Item 3 of Form N-CSR.
Item 4. Principal Accountant Fees and Services.
(a) - (d) Aggregate fees billed for the last two fiscal years for professional services rendered to, or on behalf of, the registrant by the registrant's principal accountant were as follows:
| 2025 | 2024 | |||||||||
|
Audit Fees |
$ | 23,735 | $ | 23,525 | ||||||
|
Audit-Related Fees |
- | - | ||||||||
|
Tax Fees |
125 | - | ||||||||
|
All Other Fees |
- | - | ||||||||
Audit fees include amounts related to the audit of the registrant's annual financial statements and services normally provided by the accountant in connection with statutory and regulatory filings. Audit-related fees include amounts reasonably related to the performance of the audit of the registrant's financial statements and specifically include the issuance of a report on internal controls and, if applicable, agreed-upon procedures related to fund acquisitions. Tax fees include amounts related to services for tax compliance, tax planning, and tax advice. The nature of these services specifically includes the review of distribution calculations and the preparation of Federal, state, and excise tax returns. All other fees include the registrant's pro-ratashare of amounts for agreed-upon procedures in conjunction with service contract approvals by the registrant's Board of Directors/Trustees.
(e)(1) The registrant's audit committee has adopted a policy whereby audit and non-auditservices performed by the registrant's principal accountant for the registrant, its investment adviser, and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant require pre-approvalin advance at regularly scheduled audit committee meetings. If such a service is required between regularly scheduled audit committee meetings, pre-approvalmay be authorized by one audit committee member with ratification at the next scheduled audit committee meeting. Waiver of pre-approvalfor audit or non-auditservices requiring fees of a de minimis amount is not permitted.
(2) No services included in (b) - (d) above were approved pursuant to paragraph (c)(7)(i)(C) of Rule 2-01of Regulation S-X.
(f) Less than 50 percent of the hours expended on the principal accountant's engagement to audit the registrant's financial statements for the most recent fiscal year were attributed to work performed by persons other than the principal accountant's full-time, permanent employees.
(g) The aggregate fees billed for the most recent fiscal year and the preceding fiscal year by the registrant's principal accountant for non-auditservices rendered to the registrant, its investment adviser, and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant were $1,862,000 and $1,262,000, respectively.
(h) All non-auditservices rendered in (g) above were pre-approvedby the registrant's audit committee. Accordingly, these services were considered by the registrant's audit committee in maintaining the principal accountant's independence.
(i) Not applicable.
(j) Not applicable.
Item 5. Audit Committee of Listed Registrants.
Not applicable.
Item 6. Investments.
(a) Not applicable. The complete schedule of investments is included in Item 7 of this Form N-CSR.
(b) Not applicable.
Item 7. Financial Statements and Financial Highlights for Open-EndManagement Investment Companies.
(a - b) Report pursuant to Regulation S-X.
Financial
Highlights
Portfolio
of
Investments
Financial
Statements
and
Notes
Additional
Fund
Information
December
31,
2025
Financial
Statements
and
Other
Information
For
more
insights
from
T.
Rowe
Price
investment
professionals,
go
to
troweprice.com
.
T.
ROWE
PRICE
TRSYX
Small-Cap
Index
Fund
TRCSX
Small-Cap
Index
Fund-
.
I Class
TRZIX
Small-Cap
Index
Fund-
.
Z Class
T.
ROWE
PRICE
Small-Cap
Index
Fund
Financial
Highlights
2
For
a
share
outstanding
throughout
each
period
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
Investor
Class
..
Year
..
..
Ended
.
12/31/25
12/31/24
12/31/23
12/31/22
12/31/21
NET
ASSET
VALUE
Beginning
of
period
$
15
.60
$
14
.40
$
12
.48
$
15
.93
$
14
.16
Investment
activities
Net
investment
income
(1)(2)
0
.17
0
.18
0
.18
0
.17
0
.11
Net
realized
and
unrealized
gain/loss
1
.80
1
.46
1
.90
(
3
.44
)
1
.91
Total
from
investment
activities
1
.97
1
.64
2
.08
(
3
.27
)
2
.02
Distributions
Net
investment
income
(
0
.20
)
(
0
.18
)
(
0
.16
)
(
0
.16
)
(
0
.11
)
Net
realized
gain
(
0
.19
)
(
0
.26
)
-
(
0
.02
)
(
0
.14
)
Total
distributions
(
0
.39
)
(
0
.44
)
(
0
.16
)
(
0
.18
)
(
0
.25
)
NET
ASSET
VALUE
End
of
period
$
17
.18
$
15
.60
$
14
.40
$
12
.48
$
15
.93
Ratios/Supplemental
Data
Total
return
(2)(3)
12
.53
%
11
.24
%
16
.75
%
(
20
.58
)
%
14
.32
%
Ratios
to
average
net
assets:
(2)
Gross
expenses
before
waivers/payments
by
Price
Associates
1
.07
%
0
.34
%
0
.35
%
4
.93
%
1
.87
%
Net
expenses
after
waivers/
payments
by
Price
Associates
0
.29
%
0
.29
%
0
.29
%
0
.29
%
0
.34
%
Net
investment
income
1
.11
%
1
.22
%
1
.39
%
1
.26
%
0
.70
%
Portfolio
turnover
rate
19
.9
%
24
.7
%
27
.2
%
22
.0
%
29
.0
%
Net
assets,
end
of
period
(in
thousands)
$108
$98
$177
$154
$197
0
%
0
%
0
%
0
%
0
%
(1)
Per
share
amounts
calculated
using
average
shares
outstanding
method.
(2)
Includes
the
impact
of
expense-related
arrangements
with
Price
Associates.
(3)
Total
return
reflects
the
rate
that
an
investor
would
have
earned
on
an
investment
in
the
fund
during
each
period,
assuming
reinvestment
of
all
distributions,
and
payment
of
no
redemption
or
account
fees,
if
applicable.
T.
ROWE
PRICE
Small-Cap
Index
Fund
Financial
Highlights
3
For
a
share
outstanding
throughout
each
period
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
I
Class
..
Year
..
..
Ended
.
12/31/25
12/31/24
12/31/23
12/31/22
12/31/21
NET
ASSET
VALUE
Beginning
of
period
$
15
.65
$
14
.47
$
12
.54
$
16
.01
$
14
.21
Investment
activities
Net
investment
income
(1)(2)
0
.20
0
.21
0
.20
0
.19
0
.18
Net
realized
and
unrealized
gain/loss
1
.80
1
.47
1
.91
(
3
.46
)
1
.89
Total
from
investment
activities
2
.00
1
.68
2
.11
(
3
.27
)
2
.07
Distributions
Net
investment
income
(
0
.22
)
(
0
.24
)
(
0
.18
)
(
0
.18
)
(
0
.13
)
Net
realized
gain
(
0
.19
)
(
0
.26
)
-
(
0
.02
)
(
0
.14
)
Total
distributions
(
0
.41
)
(
0
.50
)
(
0
.18
)
(
0
.20
)
(
0
.27
)
NET
ASSET
VALUE
End
of
period
$
17
.24
$
15
.65
$
14
.47
$
12
.54
$
16
.01
Ratios/Supplemental
Data
Total
return
(2)(3)
12
.69
%
11
.40
%
16
.92
%
(
20
.48
)
%
14
.63
%
Ratios
to
average
net
assets:
(2)
Gross
expenses
before
waivers/payments
by
Price
Associates
0
.26
%
0
.31
%
0
.40
%
0
.42
%
0
.65
%
Net
expenses
after
waivers/payments
by
Price
Associates
0
.14
%
0
.14
%
0
.14
%
0
.14
%
0
.17
%
Net
investment
income
1
.26
%
1
.38
%
1
.55
%
1
.43
%
1
.12
%
Portfolio
turnover
rate
19
.9
%
24
.7
%
27
.2
%
22
.0
%
29
.0
%
Net
assets,
end
of
period
(in
thousands)
$157,369
$132,082
$112,086
$85,393
$90,212
0
%
0
%
0
%
0
%
0
%
(1)
Per
share
amounts
calculated
using
average
shares
outstanding
method.
(2)
Includes
the
impact
of
expense-related
arrangements
with
Price
Associates.
(3)
Total
return
reflects
the
rate
that
an
investor
would
have
earned
on
an
investment
in
the
fund
during
each
period,
assuming
reinvestment
of
all
distributions,
and
payment
of
no
redemption
or
account
fees,
if
applicable.
T.
ROWE
PRICE
Small-Cap
Index
Fund
Financial
Highlights
4
For
a
share
outstanding
throughout
each
period
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
Z
Class
..
Year
..
..
Ended
.
12/31/25
12/31/24
12/31/23
12/31/22
12/31/21
NET
ASSET
VALUE
Beginning
of
period
$
15
.65
$
14
.46
$
12
.53
$
15
.99
$
14
.20
Investment
activities
Net
investment
income
(1)(2)
0
.23
0
.24
0
.23
0
.22
0
.23
Net
realized
and
unrealized
gain/loss
1
.80
1
.46
1
.90
(
3
.47
)
1
.85
Total
from
investment
activities
2
.03
1
.70
2
.13
(
3
.25
)
2
.08
Distributions
Net
investment
income
(
0
.24
)
(
0
.25
)
(
0
.20
)
(
0
.19
)
(
0
.15
)
Net
realized
gain
(
0
.19
)
(
0
.26
)
-
(
0
.02
)
(
0
.14
)
Total
distributions
(
0
.43
)
(
0
.51
)
(
0
.20
)
(
0
.21
)
(
0
.29
)
NET
ASSET
VALUE
End
of
period
$
17
.25
$
15
.65
$
14
.46
$
12
.53
$
15
.99
Ratios/Supplemental
Data
Total
return
(2)(3)
12
.88
%
11
.61
%
17
.07
%
(
20
.35
)
%
14
.71
%
Ratios
to
average
net
assets:
(2)
Gross
expenses
before
waivers/payments
by
Price
Associates
0
.22
%
0
.26
%
0
.32
%
0
.38
%
0
.72
%
Net
expenses
after
waivers/
payments
by
Price
Associates
0
.00
%
0
.00
%
0
.00
%
0
.00
%
0
.01
%
Net
investment
income
1
.43
%
1
.55
%
1
.75
%
1
.67
%
1
.40
%
Portfolio
turnover
rate
19
.9
%
24
.7
%
27
.2
%
22
.0
%
29
.0
%
Net
assets,
end
of
period
(in
thousands)
$149,065
$74,199
$36,196
$11,833
$1,104
0
%
0
%
0
%
0
%
0
%
(1)
Per
share
amounts
calculated
using
average
shares
outstanding
method.
(2)
Includes
the
impact
of
expense-related
arrangements
with
Price
Associates.
(3)
Total
return
reflects
the
rate
that
an
investor
would
have
earned
on
an
investment
in
the
fund
during
each
period,
assuming
reinvestment
of
all
distributions,
and
payment
of
no
redemption
or
account
fees,
if
applicable.
T.
ROWE
PRICE
Small-Cap
Index
Fund
December
31,
2025
5
Portfolio
of
Investments
‡
Shares
$
Value
(Cost
and
value
in
$000s)
‡
COMMON
STOCKS
99.7%
COMMUNICATION
SERVICES
2.8%
Diversified
Telecommunication
Services
0.6%
Anterix (1)
1,216
27
ATN
International
977
22
Bandwidth,
Class
A (1)
2,974
46
Cogent
Communications
Holdings (2)
4,928
106
Globalstar (1)(2)
5,290
323
IDT,
Class
B
1,696
87
Liberty
Latin
America,
Class
A (1)
2,816
21
Liberty
Latin
America,
Class
C (1)
13,353
100
Lumen
Technologies (1)
100,446
780
Shenandoah
Telecommunications (2)
5,484
63
Uniti
Group (1)
16,950
119
1,694
Entertainment
0.5%
AMC
Entertainment
Holdings,
Class
A (1)
51,922
81
Atlanta
Braves
Holdings,
Class
A (1)(2)
663
28
Atlanta
Braves
Holdings,
Class
C (1)
4,890
193
Cinemark
Holdings
10,983
255
CuriosityStream (2)
3,011
11
Eventbrite,
Class
A (1)
8,328
37
Gaia (1)
1,615
6
Golden
Matrix
Group (1)
1,587
1
IMAX (1)(2)
4,641
172
Lionsgate
Studios (1)
21,424
196
Madison
Square
Garden
Entertainment (1)
4,201
226
Marcus
2,561
40
Playstudios (1)
7,880
5
Playtika
Holding
6,536
26
Reservoir
Media (1)(2)
1,872
14
Sphere
Entertainment (1)(2)
2,937
279
Starz
Entertainment (1)
1,273
15
Vivid
Seats,
Class
A (1)(2)
351
3
1,588
Interactive
Media
&
Services
0.5%
Angi (1)
3,364
44
Arena
Group
Holdings (1)
1,223
5
Bumble,
Class
A (1)(2)
7,491
27
Cargurus (1)
8,685
333
Cars.com (1)(2)
5,243
64
T.
ROWE
PRICE
Small-Cap
Index
Fund
6
Shares
$
Value
(Cost
and
value
in
$000s)
‡
EverQuote,
Class
A (1)
2,902
78
fuboTV,
Class
A (1)(2)
36,401
92
Getty
Images
Holdings (1)
10,366
14
Grindr (1)(2)
3,632
49
MediaAlpha,
Class
A (1)
3,622
47
Nextdoor
Holdings (1)
23,301
49
QuinStreet (1)
5,712
82
Rumble (1)(2)
10,955
69
Shutterstock (2)
2,624
50
Teads
Holding (1)
3,077
2
Travelzoo (1)
601
4
TripAdvisor (1)(2)
12,155
177
TrueCar (1)
7,773
18
Webtoon
Entertainment (1)(2)
1,692
22
Yelp (1)
6,421
195
Ziff
Davis (1)(2)
4,095
144
ZipRecruiter,
Class
A (1)(2)
7,461
29
1,594
Media
1.0%
Advantage
Solutions (1)(2)
9,457
8
AMC
Networks,
Class
A (1)
3,208
31
Boston
Omaha,
Class
A (1)(2)
2,201
27
Cable
One (2)
556
63
EchoStar,
Class
A (1)(2)
14,262
1,550
Emerald
Holding (2)
1,683
8
Entravision
Communications,
Class
A
6,291
18
EW
Scripps,
Class
A (1)
6,200
25
Gambling.com
Group (1)(2)
1,524
8
Gray
Media
9,578
46
Ibotta,
Class
A (1)(2)
1,488
34
iHeartMedia,
Class
A (1)
12,827
53
John
Wiley
&
Sons,
Class
A
4,083
125
Magnite (1)
14,805
240
National
CineMedia (2)
6,357
25
Newsmax (1)(2)
4,568
35
Nexxen
International (1)
3,711
24
Optimum
Communications,
Class
A (1)(2)
24,533
41
PubMatic,
Class
A (1)(2)
3,389
30
Scholastic
2,127
63
Sinclair (2)
4,044
62
Stagwell (1)(2)
12,114
59
TechTarget (1)
2,636
14
TEGNA
16,973
330
T.
ROWE
PRICE
Small-Cap
Index
Fund
7
Shares
$
Value
(Cost
and
value
in
$000s)
‡
Thryv
Holdings (1)
3,600
22
USA
TODAY (1)
14,499
75
3,016
Wireless
Telecommunication
Services
0.2%
Gogo (1)
8,619
40
Spok
Holdings
1,998
27
Telephone
&
Data
Systems
10,491
430
497
Total
Communication
Services
8,389
CONSUMER
DISCRETIONARY
9.0%
Automobile
Components
1.1%
Adient (1)
8,662
166
American
Axle
&
Manufacturing
Holdings (1)(2)
12,047
77
Cooper-Standard
Holdings (1)(2)
1,833
60
Dana
12,450
296
Dorman
Products (1)
2,913
359
Fox
Factory
Holding (1)
4,519
77
Garrett
Motion
16,368
285
Gentherm (1)
3,177
115
Goodyear
Tire
&
Rubber (1)
28,392
249
Holley (1)
6,894
28
LCI
Industries
2,502
304
Motorcar
Parts
of
America (1)
1,302
16
Patrick
Industries
3,427
372
Phinia
4,030
253
Solid
Power (1)
15,879
67
Standard
Motor
Products
2,242
83
Strattec
Security (1)
429
33
Visteon
2,901
276
XPEL (1)(2)
2,552
127
3,243
Automobiles
0.0%
Faraday
Future
Intelligent
Electric (1)(2)
16,596
17
Livewire
Group (1)
3,459
15
Winnebago
Industries
2,818
114
146
Broadline
Retail
0.1%
Groupon (1)(2)
2,730
48
Kohl's
11,522
235
Savers
Value
Village (1)
3,785
36
319
T.
ROWE
PRICE
Small-Cap
Index
Fund
8
Shares
$
Value
(Cost
and
value
in
$000s)
‡
Distributors
0.1%
GigaCloud
Technology,
Class
A (1)
2,589
101
Gold.com (2)
2,050
70
Weyco
Group
581
18
189
Diversified
Consumer
Services
1.2%
Adtalem
Global
Education (1)
3,752
388
American
Public
Education (1)
1,840
70
Carriage
Services
1,501
63
Clear
Secure,
Class
A
9,123
320
Coursera (1)
14,397
106
Driven
Brands
Holdings (1)(2)
6,225
92
European
Wax
Center,
Class
A (1)
2,857
10
Frontdoor (1)
7,739
446
Graham
Holdings,
Class
B
340
374
KinderCare
Learning (1)
2,963
13
Laureate
Education (1)
13,413
452
Lincoln
Educational
Services (1)
3,188
77
Matthews
International,
Class
A
3,198
84
McGraw
Hill (1)
3,159
52
Mister
Car
Wash (1)
10,747
60
Nerdy (1)(2)
6,995
7
OneSpaWorld
Holdings
10,584
219
Perdoceo
Education
6,714
197
Phoenix
Education
Partners (1)
516
16
Strategic
Education
2,472
198
Stride (1)
4,529
294
Udemy (1)
10,522
62
Universal
Technical
Institute (1)
5,038
132
Zspace (1)
182
-
3,732
Hotels,
Restaurants
&
Leisure
1.7%
Accel
Entertainment (1)
5,233
60
Bally's (1)(2)
697
12
Biglari
Holdings,
Class
B (1)(2)
66
22
BJ's
Restaurants (1)
2,095
83
Black
Rock
Coffee
Bar,
Class
A (1)
1,708
38
Bloomin'
Brands
8,865
55
Brightstar
Lottery
11,145
173
Brinker
International (1)
4,664
669
Cheesecake
Factory
4,892
247
Cracker
Barrel
Old
Country
Store
2,335
59
T.
ROWE
PRICE
Small-Cap
Index
Fund
9
Shares
$
Value
(Cost
and
value
in
$000s)
‡
Dave
&
Buster's
Entertainment (1)
2,905
47
Denny's (1)(2)
5,572
35
Dine
Brands
Global (2)
1,654
53
El
Pollo
Loco
Holdings (1)(2)
2,595
27
First
Watch
Restaurant
Group (1)(2)
5,532
83
Genius
Sports (1)
23,281
257
Global
Business
Travel
Group
I (1)(2)
13,174
101
Golden
Entertainment
2,049
56
Hilton
Grand
Vacations (1)
6,264
280
Inspired
Entertainment (1)
2,352
22
Jack
in
the
Box
1,866
35
Krispy
Kreme
8,487
34
Kura
Sushi
USA,
Class
A (1)(2)
617
32
Life
Time
Group
Holdings (1)
15,946
424
Lindblad
Expeditions
Holdings (1)
4,089
59
Marriott
Vacations
Worldwide
2,897
167
Monarch
Casino
&
Resort
1,329
127
Nathan's
Famous
326
30
Navan,
Class
A (1)
3,900
67
Papa
John's
International
3,400
131
Portillo's,
Class
A (1)(2)
6,439
29
Pursuit
Attractions
and
Hospitality (1)
2,230
75
RCI
Hospitality
Holdings (2)
776
18
Red
Rock
Resorts,
Class
A
5,158
320
Rush
Street
Interactive (1)
9,521
185
Sabre (1)(2)
40,896
56
Serve
Robotics (1)(2)
6,172
64
Shake
Shack,
Class
A (1)
4,103
333
Six
Flags
Entertainment (1)(2)
10,187
156
Super
Group
SGHC (2)
16,872
202
Sweetgreen,
Class
A (1)(2)
11,117
75
Target
Hospitality (1)
3,574
29
United
Parks
&
Resorts (1)(2)
2,824
102
Xponential
Fitness,
Class
A (1)(2)
2,784
23
5,152
Household
Durables
1.7%
Bassett
Furniture
Industries
770
13
Beazer
Homes
USA (1)
3,032
62
Cavco
Industries (1)
821
485
Century
Communities
2,799
166
Champion
Homes (1)
5,964
504
Cricut,
Class
A (2)
4,549
23
Dream
Finders
Homes,
Class
A (1)(2)
3,183
54
T.
ROWE
PRICE
Small-Cap
Index
Fund
10
Shares
$
Value
(Cost
and
value
in
$000s)
‡
Ethan
Allen
Interiors
2,510
57
Flexsteel
Industries (2)
398
16
Green
Brick
Partners (1)
3,308
207
Hamilton
Beach
Brands
Holding,
Class
A
784
13
Helen
of
Troy (1)
2,488
53
Hovnanian
Enterprises,
Class
A (1)
527
51
Installed
Building
Products
2,443
634
KB
Home
6,669
376
La-Z-Boy
4,331
161
Legacy
Housing (1)
1,009
20
Leggett
&
Platt
13,850
152
LGI
Homes (1)
2,026
87
Lovesac (1)(2)
1,340
20
M/I
Homes (1)
2,753
352
Meritage
Homes
7,346
483
Sonos (1)
12,437
218
Taylor
Morrison
Home (1)
10,119
596
Traeger (1)
2,404
3
Tri
Pointe
Homes (1)
8,965
282
5,088
Leisure
Products
0.4%
Acushnet
Holdings (2)
2,918
233
American
Outdoor
Brands (1)(2)
1,159
9
Clarus
2,960
10
Escalade
964
13
Funko,
Class
A (1)
3,275
11
JAKKS
Pacific
840
14
Johnson
Outdoors,
Class
A
564
24
Latham
Group (1)
4,409
28
Malibu
Boats,
Class
A (1)(2)
1,998
56
Marine
Products
907
8
MasterCraft
Boat
Holdings (1)
1,581
30
Peloton
Interactive,
Class
A (1)
40,753
251
Polaris
5,628
356
Smith
&
Wesson
Brands
4,772
47
Sturm
Ruger (2)
1,320
43
Topgolf
Callaway
Brands (1)
14,008
164
1,297
Specialty
Retail
2.2%
1-800-Flowers.com,
Class
A (1)(2)
2,043
8
Abercrombie
&
Fitch,
Class
A (1)
4,908
618
Academy
Sports
&
Outdoors
6,997
350
Advance
Auto
Parts (2)
6,338
249
T.
ROWE
PRICE
Small-Cap
Index
Fund
11
Shares
$
Value
(Cost
and
value
in
$000s)
‡
American
Eagle
Outfitters
16,826
444
America's
Car-Mart (1)(2)
733
18
Arhaus (1)(2)
5,443
61
Arko (2)
8,419
38
Asbury
Automotive
Group (1)
2,049
476
BARK (1)(2)
12,010
7
Barnes
&
Noble
Education (1)(2)
1,410
13
Bed
Bath
&
Beyond (1)(2)
6,213
34
Bed
Bath
&
Beyond,
Warrants,
10/7/26 (1)
538
-
Boot
Barn
Holdings (1)
3,242
572
Buckle
3,388
181
Build-A-Bear
Workshop (2)
1,339
82
Caleres
3,323
40
Camping
World
Holdings,
Class
A
6,298
61
Citi
Trends (1)
556
23
Designer
Brands,
Class
A (2)
3,783
28
Envela (1)
639
9
EVgo (1)(2)
13,967
41
Genesco (1)(2)
992
25
Group
1
Automotive
1,298
510
Haverty
Furniture
1,330
31
J
Jill (2)
689
9
Lands'
End (1)(2)
860
12
MarineMax (1)(2)
2,059
50
Monro
3,280
66
National
Vision
Holdings (1)
8,239
213
OneWater
Marine,
Class
A (1)(2)
1,032
11
Outdoor
Holding (1)(2)
8,205
14
Petco
Health
&
Wellness (1)(2)
7,792
22
RealReal (1)
10,254
162
Revolve
Group (1)
4,046
122
Sally
Beauty
Holdings (1)
10,546
150
Shoe
Carnival
2,055
35
Signet
Jewelers (2)
4,223
350
Sleep
Number (1)(2)
2,215
19
Sonic
Automotive,
Class
A
1,565
97
Stitch
Fix,
Class
A (1)
11,636
61
ThredUp,
Class
A (1)
9,785
63
Torrid
Holdings (1)
1,869
2
Upbound
Group
5,507
97
Urban
Outfitters (1)
6,453
486
Victoria's
Secret (1)
7,305
396
Warby
Parker,
Class
A (1)(2)
10,390
226
T.
ROWE
PRICE
Small-Cap
Index
Fund
12
Shares
$
Value
(Cost
and
value
in
$000s)
‡
Winmark
311
126
Zumiez (1)
1,327
35
6,743
Textiles,
Apparel
&
Luxury
Goods
0.5%
Capri
Holdings (1)
12,318
301
Carter's
3,712
120
Ermenegildo
Zegna (2)
6,478
67
Figs,
Class
A (1)
9,226
105
G-III
Apparel
Group
3,628
105
Kontoor
Brands
5,805
355
Lakeland
Industries (2)
864
8
Movado
Group
1,562
32
Oxford
Industries (2)
1,526
52
Rocky
Brands
827
24
Steven
Madden
7,596
316
Superior
Group
1,119
11
Wolverine
World
Wide
8,557
155
1,651
Total
Consumer
Discretionary
27,560
CONSUMER
STAPLES
1.8%
Beverages
0.1%
MGP
Ingredients
1,403
34
National
Beverage (1)
2,468
79
Vita
Coco (1)
4,904
260
Zevia
PBC,
Class
A (1)
6,589
15
388
Consumer
Staples
Distribution
&
Retail
0.4%
Andersons
3,406
181
Chefs'
Warehouse (1)
3,857
240
Grocery
Outlet
Holding (1)(2)
9,849
99
HF
Foods
Group (1)(2)
4,041
9
Ingles
Markets,
Class
A
1,529
105
Natural
Grocers
by
Vitamin
Cottage
1,248
31
PriceSmart
2,708
332
United
Natural
Foods (1)
6,342
214
Village
Super
Market,
Class
A
897
32
Weis
Markets
1,356
87
1,330
Food
Products
0.7%
Alico (2)
495
18
B&G
Foods (2)
7,775
33
T.
ROWE
PRICE
Small-Cap
Index
Fund
13
Shares
$
Value
(Cost
and
value
in
$000s)
‡
Beyond
Meat (1)(2)
36,601
30
BRC,
Class
A (1)(2)
12,242
14
Calavo
Growers
1,852
40
Cal-Maine
Foods
4,672
372
Dole
8,387
126
Forafric
Global (1)(2)
365
4
Fresh
Del
Monte
Produce
3,482
124
Hain
Celestial
Group (1)
9,618
10
J
&
J
Snack
Foods
1,616
146
John
B.
Sanfilippo
&
Son
826
58
Lifeway
Foods (1)
484
12
Limoneira
1,710
22
Mama's
Creations (1)
3,794
51
Marzetti
2,120
348
Mission
Produce (1)
4,622
54
Seneca
Foods,
Class
A (1)
505
56
Simply
Good
Foods (1)
9,837
197
SunOpta (1)
10,509
40
Tootsie
Roll
Industries (2)
1,937
71
TreeHouse
Foods (1)
5,216
123
Utz
Brands
7,780
81
Vital
Farms (1)(2)
3,602
115
Westrock
Coffee (1)(2)
3,399
14
2,159
Household
Products
0.3%
Central
Garden
&
Pet (1)(2)
914
29
Central
Garden
&
Pet,
Class
A (1)
5,362
157
Energizer
Holdings
6,277
125
Oil-Dri
1,050
51
Spectrum
Brands
Holdings
2,494
147
WD-40
1,437
283
792
Personal
Care
Products
0.2%
Beauty
Health (1)(2)
10,758
15
Edgewell
Personal
Care
4,774
81
FitLife
Brands (1)
373
6
Herbalife (1)
10,696
138
Honest (1)(2)
9,164
24
Interparfums
1,971
167
Lifevantage (2)
998
6
Medifast (1)(2)
1,151
12
Nature's
Sunshine
Products (1)
1,669
36
Nu
Skin
Enterprises,
Class
A
5,411
52
T.
ROWE
PRICE
Small-Cap
Index
Fund
14
Shares
$
Value
(Cost
and
value
in
$000s)
‡
Olaplex
Holdings (1)(2)
14,624
20
USANA
Health
Sciences (1)
1,094
21
Waldencast,
Class
A (1)
4,002
8
586
Tobacco
0.1%
Ispire
Technology (1)(2)
2,003
5
Turning
Point
Brands
1,834
199
Universal
2,517
133
337
Total
Consumer
Staples
5,592
ENERGY
4.8%
Energy
Equipment
&
Services
1.8%
Archrock
18,225
474
Atlas
Energy
Solutions (2)
8,319
78
Borr
Drilling (2)
28,440
115
Bristow
Group (1)
2,968
109
Cactus,
Class
A
7,234
330
Core
Laboratories (2)
5,033
81
DMC
Global (1)(2)
1,856
12
Energy
Services
of
America (2)
1,117
9
Expro
Group
Holdings (1)
9,509
127
Flowco
Holdings,
Class
A
2,137
40
Forum
Energy
Technologies (1)
1,107
41
Helix
Energy
Solutions
Group (1)
15,070
94
Helmerich
&
Payne
10,206
293
Innovex
International (1)
4,032
88
Kodiak
Gas
Services
8,929
334
Liberty
Energy
16,669
308
Mammoth
Energy
Services (1)
2,352
4
Nabors
Industries (1)
1,380
75
National
Energy
Services
Reunited (1)
6,348
99
Natural
Gas
Services
Group
1,119
38
Noble (2)
13,313
376
Oceaneering
International (1)
10,159
244
Oil
States
International (1)
5,907
40
Patterson-UTI
Energy
36,781
225
ProFrac
Holding,
Class
A (1)
3,542
14
ProPetro
Holding (1)
8,699
83
Ranger
Energy
Services,
Class
A
2,286
32
RPC
9,677
53
SEACOR
Marine
Holdings (1)(2)
2,229
13
Seadrill (1)
6,646
230
T.
ROWE
PRICE
Small-Cap
Index
Fund
15
Shares
$
Value
(Cost
and
value
in
$000s)
‡
Select
Water
Solutions
9,951
105
Solaris
Energy
Infrastructure
4,332
199
TETRA
Technologies (1)
13,416
126
Tidewater (1)
5,194
262
Transocean (1)
98,069
405
Valaris (1)(2)
6,594
332
5,488
Oil,
Gas
&
Consumable
Fuels
3.0%
Ardmore
Shipping
3,872
41
BKV (1)
2,189
59
California
Resources
7,654
342
Calumet (1)(2)
7,421
147
Centrus
Energy,
Class
A (1)(2)
1,778
432
Clean
Energy
Fuels (1)
17,313
36
CNX
Resources (1)
13,756
506
Comstock
Resources (1)(2)
7,708
179
Core
Natural
Resources
5,374
476
Crescent
Energy,
Class
A
24,992
210
CVR
Energy (1)
3,223
82
Delek
U.S.
Holdings
6,317
187
DHT
Holdings
14,369
175
Diversified
Energy
6,666
97
Dorian
LPG
3,884
95
Empire
Petroleum (1)(2)
1,272
4
Encore
Energy (1)
19,939
49
Energy
Fuels (1)(2)
24,122
351
Epsilon
Energy
1,816
8
Evolution
Petroleum (2)
2,843
10
Excelerate
Energy,
Class
A
2,413
68
FLEX
LNG
3,288
82
FutureFuel (2)
2,509
8
Gevo (1)(2)
25,055
50
Golar
LNG
10,314
384
Granite
Ridge
Resources (2)
5,333
25
Green
Plains (1)
6,767
66
Gulfport
Energy (1)
1,681
350
HighPeak
Energy (2)
1,723
8
Infinity
Natural
Resources,
Class
A (1)
1,727
25
International
Seaways
4,256
207
Kinetik
Holdings (2)
4,697
169
Kolibri
Global
Energy (1)(2)
3,317
13
Kosmos
Energy (1)(2)
50,508
46
Lightbridge (1)(2)
2,945
37
T.
ROWE
PRICE
Small-Cap
Index
Fund
16
Shares
$
Value
(Cost
and
value
in
$000s)
‡
Magnolia
Oil
&
Gas,
Class
A
19,101
418
Murphy
Oil (2)
14,237
445
NACCO
Industries,
Class
A
397
20
Navigator
Holdings (2)
3,530
61
New
Fortress
Energy (1)(2)
16,559
19
NextDecade (1)(2)
14,312
75
NextNRG (1)(2)
1,675
2
Nordic
American
Tankers (2)
21,592
74
Northern
Oil
&
Gas (2)
10,158
218
OPAL
Fuels,
Class
A (1)(2)
2,014
5
Par
Pacific
Holdings (1)
5,296
186
PBF
Energy,
Class
A
8,876
241
Peabody
Energy
12,905
383
Prairie
Operating (1)(2)
2,049
4
PrimeEnergy
Resources (1)(2)
44
8
REX
American
Resources (1)
3,123
101
Riley
Exploration
Permian (2)
1,472
39
Sable
Offshore (1)
7,936
72
SandRidge
Energy
3,931
57
Scorpio
Tankers
4,722
240
SFL (2)
12,612
99
SM
Energy
12,151
227
Summit
Midstream (1)
930
25
Talos
Energy (1)
13,293
147
Teekay
5,571
50
Teekay
Tankers,
Class
A
2,588
138
Uranium
Energy (1)
50,286
587
VAALCO
Energy (2)
11,665
43
Verde
Clean
Fuels (1)
210
-
Vitesse
Energy (2)
3,173
61
W&T
Offshore (2)
9,772
16
World
Kinect
5,737
134
XCF
Global,
Class
A (1)
3,478
1
9,220
Total
Energy
14,708
EQUITY
FUNDS
0.2%
Mutual
Funds
&
Exchange-Traded
Funds
0.2%
iShares
Russell
2000
ETF
2,465
607
Total
Equity
Funds
607
FINANCIALS
17.5%
Banks
9.8%
1st
Source
1,943
121
T.
ROWE
PRICE
Small-Cap
Index
Fund
17
Shares
$
Value
(Cost
and
value
in
$000s)
‡
ACNB
1,115
54
Amalgamated
Financial
2,246
72
Amerant
Bancorp
3,569
70
Ameris
Bancorp
6,976
518
Ames
National
1,011
23
Arrow
Financial
1,787
56
Associated
Banc-Corp
17,551
452
Atlantic
Union
Bankshares (2)
15,031
531
Avidbank
Holdings (1)
303
8
Axos
Financial (1)
5,737
494
Banc
of
California
13,567
262
BancFirst
2,208
234
Bancorp (1)
4,474
302
Bank
First
965
118
Bank
of
Hawaii
4,160
284
Bank
of
Marin
Bancorp
1,566
41
Bank
of
NT
Butterfield
&
Son
4,414
220
Bank7
402
16
BankFinancial (2)
1,053
13
BankUnited
7,962
355
Bankwell
Financial
Group
778
36
Banner
3,605
226
Bar
Harbor
Bankshares
1,638
51
BayCom
1,023
30
BCB
Bancorp
1,402
11
Beacon
Financial
8,816
232
Blue
Foundry
Bancorp (1)
1,797
22
Blue
Ridge
Bankshares
7,250
31
Bridgewater
Bancshares (1)
2,062
36
Burke
&
Herbert
Financial
Services
1,444
90
Business
First
Bancshares
2,978
78
BV
Financial (1)
818
15
Byline
Bancorp
3,286
96
C&F
Financial
288
21
Cadence
Bank
19,658
842
California
Bancorp
2,505
47
Camden
National
1,800
78
Capital
Bancorp
1,150
32
Capital
City
Bank
Group
1,473
63
Capitol
Federal
Financial
12,945
88
Carter
Bankshares (1)
2,498
49
Cathay
General
Bancorp
7,024
340
CB
Financial
Services
441
15
T.
ROWE
PRICE
Small-Cap
Index
Fund
18
Shares
$
Value
(Cost
and
value
in
$000s)
‡
Central
Pacific
Financial
2,794
87
CF
Bankshares
364
9
Chain
Bridge
Bancorp,
Class
A (1)
223
8
Chemung
Financial
484
27
ChoiceOne
Financial
Services
1,557
46
Citizens
&
Northern
1,656
33
Citizens
Community
Bancorp
906
16
Citizens
Financial
Services
505
29
City
Holding
1,509
180
Civista
Bancshares
2,070
46
CNB
Financial
2,931
77
Coastal
Financial (1)
1,325
152
CoastalSouth
Bancshares (1)
455
11
Colony
Bankcorp
1,677
30
Columbia
Financial (1)
2,728
42
Commercial
Bancgroup (1)
719
18
Community
Financial
System
5,588
321
Community
Trust
Bancorp
1,689
95
Community
West
Bancshares
1,879
42
ConnectOne
Bancorp
4,988
131
Customers
Bancorp (1)
3,292
241
CVB
Financial
13,830
257
Dime
Community
Bancshares
4,173
126
Eagle
Bancorp
2,882
62
Eagle
Bancorp
Montana
700
14
Eagle
Financial
Services (2)
434
17
Eastern
Bankshares
23,341
430
ECB
Bancorp (1)(2)
727
13
Enterprise
Financial
Services
3,882
210
Equity
Bancshares,
Class
A
1,520
68
Esquire
Financial
Holdings
763
78
Farmers
&
Merchants
Bancorp
1,256
31
Farmers
National
Banc
3,957
53
FB
Bancorp (1)(2)
1,679
22
FB
Financial
4,382
245
Fidelity
D&D
Bancorp
451
20
Financial
Institutions
2,141
67
Finward
Bancorp
325
11
Finwise
Bancorp (1)
856
15
First
Bancorp
1,198
32
First
Bancorp
North
Carolina
4,271
217
First
BanCorp
Puerto
Rico
16,798
348
First
Bank
New
Jersey
2,132
35
T.
ROWE
PRICE
Small-Cap
Index
Fund
19
Shares
$
Value
(Cost
and
value
in
$000s)
‡
First
Busey
8,956
213
First
Business
Financial
Services
866
47
First
Capital (2)
308
18
First
Commonwealth
Financial
11,062
187
First
Community
697
21
First
Community
Bankshares
1,692
57
First
Financial
1,193
72
First
Financial
Bancorp
10,076
252
First
Financial
Bankshares
14,175
423
First
Financial
Northwest (1)(2)(3)
667
-
First
Foundation (1)
6,961
43
First
Internet
Bancorp
741
15
First
Interstate
BancSystem,
Class
A (2)
9,450
327
First
Merchants
6,105
229
First
Mid
Bancshares
2,281
89
First
National
735
19
First
Savings
Financial
Group
523
17
First
United
699
26
First
Western
Financial (1)
823
22
Firstsun
Capital
Bancorp (1)(2)
1,371
52
Five
Star
Bancorp
1,687
60
Flagstar
Bank
32,065
404
Flushing
Financial
3,490
53
Franklin
Financial
Services
396
20
FS
Bancorp
512
21
Fulton
Financial
19,256
372
FVCBankcorp
1,438
20
GBank
Financial
Holdings (1)(2)
884
30
German
American
Bancorp
3,899
153
Glacier
Bancorp
13,527
596
Great
Southern
Bancorp
915
56
Greene
County
Bancorp
689
15
Hancock
Whitney
8,933
569
Hanmi
Financial
3,153
85
Hanover
Bancorp
448
10
Hawthorn
Bancshares
548
19
HBT
Financial
1,200
31
Heritage
Commerce
6,338
76
Heritage
Financial
3,621
86
Hilltop
Holdings
4,622
157
Hingham
Institution
For
Savings
177
50
Home
Bancorp
679
39
Home
BancShares
19,856
552
T.
ROWE
PRICE
Small-Cap
Index
Fund
20
Shares
$
Value
(Cost
and
value
in
$000s)
‡
HomeTrust
Bancshares
1,721
74
Hope
Bancorp
12,907
141
Horizon
Bancorp
5,053
86
Independent
Bank,
(MA)
5,312
388
Independent
Bank,
(MI)
2,147
70
International
Bancshares
5,756
382
Investar
Holding
1,027
27
John
Marshall
Bancorp
946
19
Kearny
Financial
5,630
42
Lakeland
Financial
2,704
154
Landmark
Bancorp
449
12
LCNB
1,402
23
LINKBANCORP
2,102
17
Live
Oak
Bancshares
3,664
126
MainStreet
Bancshares
663
13
Mechanics
Bancorp,
Class
A (2)
4,812
70
Mercantile
Bank
1,661
80
Meridian
857
15
Metrocity
Bankshares
2,117
56
Metropolitan
Bank
Holding
959
73
Mid
Penn
Bancorp
2,000
62
Middlefield
Banc
722
25
Midland
States
Bancorp
2,070
44
MidWestOne
Financial
Group
1,765
68
MVB
Financial
1,273
33
National
Bank
Holdings,
Class
A
4,074
155
National
Bankshares
657
22
NB
Bancorp
3,925
78
NBT
Bancorp
5,416
225
Nicolet
Bankshares
1,342
163
Northeast
Bank
731
76
Northeast
Community
Bancorp
1,261
29
Northfield
Bancorp
3,774
43
Northpointe
Bancshares
1,943
33
Northrim
BanCorp
2,351
63
Northwest
Bancshares
15,559
187
Norwood
Financial (2)
841
24
Oak
Valley
Bancorp
670
20
OceanFirst
Financial
5,969
107
OFG
Bancorp
4,681
192
Ohio
Valley
Banc
358
14
Old
National
Bancorp
36,875
823
Old
Second
Bancorp
5,277
103
T.
ROWE
PRICE
Small-Cap
Index
Fund
21
Shares
$
Value
(Cost
and
value
in
$000s)
‡
OP
Bancorp (2)
1,110
16
Orange
County
Bancorp
1,151
33
Origin
Bancorp
3,212
121
Orrstown
Financial
Services
1,973
70
Park
National
1,567
238
Parke
Bancorp
960
24
Pathward
Financial
2,412
171
Patriot
National
Bancorp (1)
4,180
8
PCB
Bancorp
1,222
26
Peapack-Gladstone
Financial
1,716
48
Peoples
Bancorp
3,642
109
Peoples
Bancorp
of
North
Carolina
410
15
Peoples
Financial
Services
1,011
49
Pioneer
Bancorp (1)
1,079
15
Plumas
Bancorp
709
32
Ponce
Financial
Group (1)
952
16
Preferred
Bank
1,193
113
Primis
Financial
2,479
34
Princeton
Bancorp
533
18
Provident
Financial
Services
13,623
269
QCR
Holdings
1,778
148
RBB
Bancorp
1,855
38
Red
River
Bancshares
519
37
Renasant
9,946
350
Republic
Bancorp,
Class
A
888
61
Rhinebeck
Bancorp (1)
430
5
Richmond
Mutual
BanCorp
859
12
Riverview
Bancorp
1,930
10
S&T
Bancorp
3,987
157
SB
Financial
Group
561
12
Seacoast
Banking
8,981
282
ServisFirst
Bancshares
5,444
391
Shore
Bancshares
3,149
56
Sierra
Bancorp
1,388
45
Simmons
First
National,
Class
A
14,970
282
SmartFinancial
1,572
58
Sound
Financial
Bancorp (2)
202
9
South
Plains
Financial
1,394
54
Southern
First
Bancshares (1)
849
44
Southern
Missouri
Bancorp
1,043
62
Southside
Bancshares
3,068
93
SR
Bancorp (2)
743
12
Stellar
Bancorp
5,055
156
T.
ROWE
PRICE
Small-Cap
Index
Fund
22
Shares
$
Value
(Cost
and
value
in
$000s)
‡
Sterling
Bancorp (1)(3)
2,133
-
Stock
Yards
Bancorp
2,786
181
Texas
Capital
Bancshares (1)
4,800
435
Third
Coast
Bancshares (1)
1,395
53
Timberland
Bancorp
856
31
Tompkins
Financial
1,425
103
Towne
Bank
7,797
260
TriCo
Bancshares
3,259
154
Triumph
Financial (1)
2,442
153
TrustCo
Bank
1,991
82
Trustmark
5,947
232
UMB
Financial
7,649
880
Union
Bankshares
344
8
United
Bankshares
14,739
566
United
Community
Banks
12,922
403
United
Security
Bancshares
1,307
13
Unity
Bancorp
819
42
Univest
Financial
2,817
92
USCB
Financial
Holdings
1,213
22
Valley
National
Bancorp
51,111
597
Virginia
National
Bankshares
474
19
WaFd
8,240
264
Washington
Trust
Bancorp
2,079
61
WesBanco
9,991
332
West
BanCorp
1,663
37
Westamerica
BanCorp
2,424
116
Western
New
England
Bancorp
1,732
22
WSFS
Financial
5,906
326
30,128
Capital
Markets
1.8%
Acadian
Asset
Management
2,805
132
AlTi
Global (1)(2)
4,363
20
Artisan
Partners
Asset
Management,
Class
A
6,613
269
Bakkt
Holdings (1)(2)
1,094
11
BGC
Group,
Class
A
38,341
342
Cohen
&
Steers
2,941
185
Diamond
Hill
Investment
Group
268
46
DigitalBridge
Group (2)
18,758
288
Donnelley
Financial
Solutions (1)
2,767
129
Fold
Holdings (1)
646
2
Forge
Global
Holdings (1)
1,060
47
GCM
Grosvenor,
Class
A
5,293
60
Innventure (1)
2,853
12
T.
ROWE
PRICE
Small-Cap
Index
Fund
23
Shares
$
Value
(Cost
and
value
in
$000s)
‡
Marex
Group
5,694
218
MarketWise (2)
203
3
Miami
International
Holdings (1)
2,456
109
Moelis,
Class
A
7,833
539
Open
Lending (1)
9,670
15
P10,
Class
A (2)
6,202
61
Patria
Investments,
Class
A (2)
6,779
108
Perella
Weinberg
Partners (2)
6,487
112
Piper
Sandler
1,842
626
PJT
Partners,
Class
A
2,423
405
Siebert
Financial (1)
1,344
5
Silvercrest
Asset
Management
Group,
Class
A
911
14
StepStone
Group,
Class
A
7,346
471
StoneX
Group (1)
5,165
491
Value
Line (2)
68
3
Victory
Capital
Holdings,
Class
A (2)
4,673
295
Virtus
Investment
Partners
686
112
Webull (1)(2)
28,484
221
Westwood
Holdings
Group
703
12
WisdomTree (2)
12,504
152
5,515
Consumer
Finance
1.1%
Atlanticus
Holdings (1)
547
37
Bread
Financial
Holdings
4,834
358
Consumer
Portfolio
Services (1)
875
8
Dave (1)
1,065
236
Encore
Capital
Group (1)
2,427
132
Enova
International (1)
2,546
400
FirstCash
Holdings
4,174
665
Green
Dot,
Class
A (1)
5,181
66
Jefferson
Capital
607
14
LendingClub (1)
11,975
227
LendingTree (1)
1,177
63
Medallion
Financial
1,757
18
Navient
7,418
96
Nelnet,
Class
A
1,188
158
NerdWallet,
Class
A (1)
4,547
62
Oportun
Financial (1)
4,545
24
OppFi
2,749
29
PRA
Group (1)
4,135
73
PROG
Holdings
4,184
123
Regional
Management
910
35
Upstart
Holdings (1)(2)
8,880
388
T.
ROWE
PRICE
Small-Cap
Index
Fund
24
Shares
$
Value
(Cost
and
value
in
$000s)
‡
Vroom (1)
103
2
World
Acceptance (1)
292
41
3,255
Financial
Services
2.1%
Acacia
Research (1)(2)
3,565
13
Alerus
Financial
2,529
57
Banco
Latinoamericano
de
Comercio
Exterior,
Class
E
2,819
126
Better
Home
&
Finance
Holding (1)(2)
549
18
Burford
Capital (2)
21,304
190
Cannae
Holdings
4,621
73
Cantaloupe (1)
5,693
60
Cass
Information
Systems
1,221
51
Compass
Diversified
Holdings (2)
7,350
35
Enact
Holdings
3,023
120
Essent
Group
9,984
649
EVERTEC
6,816
198
Federal
Agricultural
Mortgage,
Class
C
1,002
176
Finance
Of
America,
Class
A (1)(2)
420
10
Flywire (1)
12,580
178
HA
Sustainable
Infrastructure
Capital
12,910
406
International
Money
Express (1)
2,751
42
Jackson
Financial,
Class
A
7,293
778
loanDepot,
Class
A (1)(2)
9,670
20
Marqeta,
Class
A (1)
37,063
176
Merchants
Bancorp (2)
2,748
94
NCR
Atleos (1)
7,734
295
NewtekOne
2,429
28
NMI
Holdings,
Class
A (1)
8,250
337
Onity
Group (1)(2)
664
30
Pagseguro
Digital,
Class
A
18,983
183
Payoneer
Global (1)
29,895
168
Paysafe (1)(2)
3,181
26
Paysign (1)
3,323
17
PennyMac
Financial
Services
3,082
406
Priority
Technology
Holdings (1)(2)
2,540
14
Radian
Group
14,293
514
Remitly
Global (1)
17,762
245
Repay
Holdings (1)(2)
7,593
28
Security
National
Financial,
Class
A (1)
1,457
13
Sezzle (1)(2)
1,662
105
StoneCo,
Class
A (1)
26,460
391
SWK
Holdings (2)
287
5
Triller
Group (1)
9,788
-
T.
ROWE
PRICE
Small-Cap
Index
Fund
25
Shares
$
Value
(Cost
and
value
in
$000s)
‡
Velocity
Financial (1)
1,053
22
Walker
&
Dunlop
3,488
210
Waterstone
Financial
1,511
25
6,532
Insurance
1.9%
Abacus
Global
Management
3,978
34
American
Coastal
Insurance,
Class
C (2)
2,709
34
American
Integrity
Insurance
Group (1)
789
16
AMERISAFE
2,039
78
Aspen
Insurance
Holdings,
Class
A (1)(2)
1,667
62
Ategrity
Specialty
Holdings (1)
619
13
Baldwin
Insurance
Group (1)(2)
7,456
179
Bowhead
Specialty
Holdings (1)(2)
1,938
55
Citizens (1)(2)
4,262
21
CNO
Financial
Group
10,153
431
Crawford,
Class
A
1,606
18
Donegal
Group,
Class
A
1,880
38
eHealth (1)
2,718
13
Employers
Holdings
2,214
96
F&G
Annuities
&
Life
3,839
118
Fidelis
Insurance
Holdings
5,570
109
Genworth
Financial (1)
42,906
387
GoHealth,
Class
A (1)(2)
368
1
Goosehead
Insurance,
Class
A
2,516
185
Greenlight
Capital
Re,
Class
A (1)
2,819
41
Hamilton
Insurance
Group,
Class
B (1)
4,814
134
HCI
Group
1,143
219
Heritage
Insurance
Holdings (1)
2,649
78
Hippo
Holdings (1)
1,936
58
Horace
Mann
Educators
4,323
200
Investors
Title (2)
139
35
James
River
Group
Holdings
3,654
23
Kestrel
Group (1)
337
4
Kingstone
1,041
18
Kingsway
Financial
Services (1)(2)
2,385
32
Lemonade (1)(2)
6,382
454
MBIA (1)(2)
4,534
33
Mercury
General
2,844
268
NI
Holdings (1)
703
9
Octave
Specialty
Group (1)
4,666
36
Palomar
Holdings (1)
2,783
375
ProAssurance (1)
5,298
128
Root,
Class
A (1)(2)
1,258
91
T.
ROWE
PRICE
Small-Cap
Index
Fund
26
Shares
$
Value
(Cost
and
value
in
$000s)
‡
Safety
Insurance
Group
1,541
120
Selective
Insurance
Group
6,410
536
Selectquote (1)
13,427
19
SiriusPoint (1)
10,840
237
Skyward
Specialty
Insurance
Group (1)
3,720
190
Slide
Insurance
Holdings (1)
2,902
57
Stewart
Information
Services
2,947
207
Tiptree
2,568
47
Trupanion (1)(2)
3,858
144
United
Fire
Group
2,199
80
Universal
Insurance
Holdings
2,643
89
5,850
Mortgage
Real
Estate
Investment
Trusts
0.8%
ACRES
Commercial
Realty,
REIT (1)
582
13
Adamas
Trust,
REIT
9,016
66
Advanced
Flower
Capital,
REIT (2)
1,694
5
Angel
Oak
Mortgage
REIT,
REIT
1,174
10
Apollo
Commercial
Real
Estate
Finance,
REIT
14,516
141
Arbor
Realty
Trust,
REIT
20,225
157
Ares
Commercial
Real
Estate,
REIT (2)
5,180
25
ARMOUR
Residential
REIT,
REIT (2)
11,763
208
Blackstone
Mortgage
Trust,
Class
A,
REIT
16,798
321
BrightSpire
Capital,
REIT (2)
13,801
77
Chicago
Atlantic
Real
Estate
Finance,
REIT
1,716
21
Chimera
Investment,
REIT
8,372
104
Claros
Mortgage
Trust,
REIT (1)
9,220
28
Dynex
Capital,
REIT (2)
15,071
211
Ellington
Financial,
REIT (2)
10,399
141
Franklin
BSP
Realty
Trust,
REIT
8,494
85
Invesco
Mortgage
Capital,
REIT
7,142
60
KKR
Real
Estate
Finance
Trust,
REIT
6,194
51
Ladder
Capital,
REIT
11,951
131
Lument
Finance
Trust,
REIT
4,314
6
MFA
Financial,
REIT (2)
10,718
100
Nexpoint
Real
Estate
Finance,
REIT (2)
728
10
Orchid
Island
Capital,
REIT (2)
15,516
112
PennyMac
Mortgage
Investment
Trust,
REIT
9,105
114
Ready
Capital,
REIT (2)
13,324
29
Redwood
Trust,
REIT
13,986
77
Rithm
Property
Trust,
REIT
663
11
Seven
Hills
Realty
Trust,
REIT
2,397
21
Sunrise
Realty
Trust,
REIT (2)
875
8
TPG
Mortgage
Investment
Trust,
REIT
2,898
25
T.
ROWE
PRICE
Small-Cap
Index
Fund
27
Shares
$
Value
(Cost
and
value
in
$000s)
‡
TPG
RE
Finance
Trust,
REIT
7,270
63
Two
Harbors
Investment,
REIT
10,909
115
2,546
Total
Financials
53,826
HEALTH
CARE
18.6%
Biotechnology
9.2%
4D
Molecular
Therapeutics (1)
4,452
33
Abeona
Therapeutics (1)(2)
5,076
27
Absci (1)
14,298
50
ACADIA
Pharmaceuticals (1)
13,123
350
Actuate
Therapeutics (1)
567
3
ADC
Therapeutics (1)
9,591
34
ADMA
Biologics (1)
24,399
445
Aduro
Biotech,
Rights,
12/31/49 (1)(3)
35
-
Agios
Pharmaceuticals (1)
5,991
163
Akebia
Therapeutics (1)
25,109
40
Aldeyra
Therapeutics (1)
5,498
28
Alector (1)
7,957
12
Alkermes (1)
17,102
478
Allogene
Therapeutics (1)
14,278
20
Altimmune (1)(2)
8,684
31
Amicus
Therapeutics (1)
31,414
447
AnaptysBio (1)
1,817
88
Anavex
Life
Sciences (1)(2)
8,804
31
Anika
Therapeutics (1)
1,164
11
Annexon (1)
10,456
52
Apogee
Therapeutics (1)
3,969
300
Arbutus
Biopharma (1)(2)
15,983
77
Arcellx (1)
3,618
236
Arcturus
Therapeutics
Holdings (1)(2)
2,556
16
Arcus
Biosciences (1)
8,039
192
Arcutis
Biotherapeutics (1)
11,621
337
Ardelyx (1)
24,583
143
ArriVent
Biopharma (1)(2)
3,187
64
Arrowhead
Pharmaceuticals (1)
13,960
927
ARS
Pharmaceuticals (1)(2)
6,310
73
Astria
Therapeutics (1)
3,873
51
aTyr
Pharma (1)
8,518
7
Aura
Biosciences (1)
4,883
27
Aurinia
Pharmaceuticals (1)
12,437
198
Avidity
Biosciences (1)
12,179
878
Avita
Medical (1)(2)
1,180
4
Beam
Therapeutics (1)(2)
10,098
280
T.
ROWE
PRICE
Small-Cap
Index
Fund
28
Shares
$
Value
(Cost
and
value
in
$000s)
‡
Benitec
Biopharma (1)
1,363
18
Bicara
Therapeutics (1)
3,002
51
BioCryst
Pharmaceuticals (1)
22,206
173
Biohaven (1)
9,392
106
Bridgebio
Pharma (1)
16,687
1,276
Bright
Minds
Biosciences (1)
506
39
Candel
Therapeutics (1)(2)
4,893
28
Capricor
Therapeutics (1)
4,103
118
Cardiff
Oncology (1)(2)
5,836
16
CareDx (1)
5,384
101
Cartesian
Therapeutics (1)(2)
925
7
Cartesian
Therapeutics,
CVR (1)(2)(3)
5,723
-
Catalyst
Pharmaceuticals (1)
12,268
286
Celcuity (1)(2)
3,318
331
Celldex
Therapeutics (1)
7,019
191
CG
oncology (1)
5,905
245
Chinook
Therapeutics,
CVR (1)(3)
2,945
-
Cidara
Therapeutics (1)
2,067
457
Cogent
Biosciences (1)
14,643
520
Coherus
Oncology (1)(2)
10,321
15
Compass
Therapeutics (1)
12,945
69
Corvus
Pharmaceuticals (1)
6,470
50
CRISPR
Therapeutics (1)
9,185
482
Cullinan
Therapeutics (1)
5,754
60
Cytokinetics (1)
12,295
781
Day
One
Biopharmaceuticals (1)
8,445
79
Denali
Therapeutics (1)
13,995
231
Design
Therapeutics (1)
2,348
22
DiaMedica
Therapeutics (1)(2)
3,752
30
Dianthus
Therapeutics (1)
2,467
102
Disc
Medicine (1)
2,560
203
Dynavax
Technologies (1)
10,470
161
Dyne
Therapeutics (1)
13,084
256
Editas
Medicine (1)
8,253
17
Eledon
Pharmaceuticals (1)(2)
5,523
8
Emergent
BioSolutions (1)
5,344
66
Enanta
Pharmaceuticals (1)
2,985
47
Entrada
Therapeutics (1)
3,116
32
Erasca (1)
18,752
70
Fate
Therapeutics (1)
10,237
10
Fennec
Pharmaceuticals (1)(2)
2,222
17
Foghorn
Therapeutics (1)
3,087
17
Geron (1)
58,730
78
T.
ROWE
PRICE
Small-Cap
Index
Fund
29
Shares
$
Value
(Cost
and
value
in
$000s)
‡
Gossamer
Bio (1)(2)
20,432
63
GRAIL (1)
3,712
318
Greenwich
Lifesciences (1)(2)
624
13
GTX,
CVR (1)(3)
1
-
Gyre
Therapeutics (1)
1,284
9
Heron
Therapeutics (1)(2)
14,371
19
Humacyte (1)(2)
11,781
11
Ideaya
Biosciences (1)
8,503
294
ImmunityBio (1)
29,091
58
Immunome (1)
9,591
206
Immunovant (1)
7,326
186
Inhibikase
Therapeutics (1)(2)
5,720
12
Inhibrx,
CVR (1)(3)
2,250
-
Inhibrx
Biosciences (1)(2)
947
75
Inmune
Bio (1)(2)
1,269
2
Intellia
Therapeutics (1)(2)
10,766
97
Iovance
Biotherapeutics (1)
30,635
84
Ironwood
Pharmaceuticals (1)
16,844
57
iTEOS
Therapeutics,
CVR (1)(3)
2,806
-
Jade
Biosciences
4,614
71
Janux
Therapeutics (1)
4,087
56
KalVista
Pharmaceuticals (1)(2)
4,068
66
Keros
Therapeutics (1)
2,801
57
Kodiak
Sciences (1)
3,377
94
Korro
Bio (1)(2)
679
5
Krystal
Biotech (1)
2,610
643
Kura
Oncology (1)
8,397
87
Kymera
Therapeutics (1)
5,945
463
Larimar
Therapeutics (1)
5,488
21
Lexeo
Therapeutics (1)
6,226
62
Madrigal
Pharmaceuticals (1)
1,956
1,139
MannKind (1)
32,460
184
MapLight
Therapeutics (1)
1,760
31
MeiraGTx
Holdings (1)(2)
4,265
34
MiMedx
Group (1)
12,428
84
Mineralys
Therapeutics (1)
4,785
174
Mirum
Pharmaceuticals (1)
4,261
337
Monopar
Therapeutics (1)
507
33
Monte
Rosa
Therapeutics (1)(2)
4,884
77
Myriad
Genetics (1)
9,721
60
Neurogene (1)(2)
1,095
23
Nkarta (1)(2)
4,961
9
Novavax (1)(2)
15,625
105
T.
ROWE
PRICE
Small-Cap
Index
Fund
30
Shares
$
Value
(Cost
and
value
in
$000s)
‡
Nurix
Therapeutics (1)
10,255
195
Nuvalent,
Class
A (1)
5,274
530
Nuvectis
Pharma (1)
1,217
9
Olema
Pharmaceuticals (1)
6,376
159
Organogenesis
Holdings (1)
6,690
35
ORIC
Pharmaceuticals (1)
7,179
59
Oruka
Therapeutics (1)(2)
3,898
118
Palvella
Therapeutics (1)
763
80
Perspective
Therapeutics (1)(2)
5,607
15
Praxis
Precision
Medicines (1)
2,371
699
Precigen (1)(2)
17,956
75
Prime
Medicine (1)
9,402
33
Protagonist
Therapeutics (1)
6,133
536
Protalix
BioTherapeutics (1)(2)
6,593
12
Protara
Therapeutics (1)
3,055
16
Prothena (1)(2)
4,290
41
PTC
Therapeutics (1)
8,184
622
Puma
Biotechnology (1)
4,275
25
Recursion
Pharmaceuticals,
Class
A (1)
38,847
159
REGENXBIO (1)
5,046
73
Relay
Therapeutics (1)
15,011
127
Replimune
Group (1)
7,252
70
Rezolute (1)
8,068
19
Rhythm
Pharmaceuticals (1)
5,548
594
Rigel
Pharmaceuticals (1)
1,840
79
Rocket
Pharmaceuticals (1)
9,409
33
Sana
Biotechnology (1)(2)
16,445
67
Savara (1)
14,597
88
Scholar
Rock
Holding (1)
8,556
377
SELLAS
Life
Sciences
Group (1)(2)
11,484
43
Sionna
Therapeutics (1)
1,594
66
Soleno
Therapeutics (1)
4,796
222
Solid
Biosciences (1)
6,477
37
Spyre
Therapeutics (1)
7,080
232
Stoke
Therapeutics (1)
4,663
148
Syndax
Pharmaceuticals (1)
8,897
187
Tango
Therapeutics (1)(2)
10,673
95
Taysha
Gene
Therapies (1)
22,294
123
Tectonic
Therapeutic (1)(2)
1,033
22
Tevogen
Bio
Holdings (1)
2,273
1
TG
Therapeutics (1)
15,278
455
Tobira
Therapeutics,
CVR (1)(3)
25
-
Tonix
Pharmaceuticals
Holding (1)
1,094
17
T.
ROWE
PRICE
Small-Cap
Index
Fund
31
Shares
$
Value
(Cost
and
value
in
$000s)
‡
Travere
Therapeutics (1)
8,714
333
TriSalus
Life
Sciences (1)
3,457
24
TuHURA
Biosciences (1)
2,445
2
Twist
Bioscience (1)
6,333
201
Tyra
Biosciences (1)
2,555
67
Upstream
Bio (1)(2)
3,409
93
UroGen
Pharma (1)
3,947
92
Vanda
Pharmaceuticals,
A
Shares (1)
6,132
54
Vaxcyte (1)
12,059
556
Vera
Therapeutics (1)
5,721
290
Veracyte (1)
8,266
348
Verastem (1)
4,933
38
Vericel (1)
5,242
189
Vir
Biotechnology (1)
9,381
57
Viridian
Therapeutics (1)
8,223
256
Voyager
Therapeutics (1)
5,293
21
Xencor (1)
7,313
112
Xenon
Pharmaceuticals (1)
8,012
359
XOMA
Royalty (1)(2)
921
24
Zenas
Biopharma (1)(2)
1,867
68
Zymeworks (1)
5,169
136
28,351
Health
Care
Equipment
&
Supplies
2.7%
Accuray (1)
10,247
8
Acme
United
314
13
Alphatec
Holdings (1)
12,256
258
AngioDynamics (1)
3,907
50
Anteris
Technologies
Global (1)(2)
4,257
21
Artivion (1)
4,318
197
AtriCure (1)
5,128
203
Avanos
Medical (1)
4,719
53
Axogen (1)
4,610
151
Beta
Bionics (1)
4,026
123
Bioventus,
Class
A (1)(2)
4,572
34
Butterfly
Network (1)(2)
21,622
82
CapsoVision (1)
562
6
Carlsmed (1)
669
8
Ceribell (1)
2,661
58
Cerus (1)
20,705
43
ClearPoint
Neuro (1)(2)
2,819
39
CONMED
3,360
136
CVRx (1)(2)
1,648
12
Delcath
Systems (1)(2)
2,955
30
T.
ROWE
PRICE
Small-Cap
Index
Fund
32
Shares
$
Value
(Cost
and
value
in
$000s)
‡
Electromed (1)
651
19
Embecta
6,219
74
Enovis (1)
6,139
164
Glaukos (1)
5,888
665
Haemonetics (1)
5,082
407
ICU
Medical (1)
2,552
364
Inogen (1)
2,381
16
Integer
Holdings (1)
3,642
286
Integra
LifeSciences
Holdings (1)(2)
7,168
89
iRadimed
860
84
iRhythm
Technologies (1)
3,359
596
Kestra
Medical
Technologies (1)
1,919
51
KORU
Medical
Systems (1)
4,835
28
Lantheus
Holdings (1)
7,066
470
LeMaitre
Vascular
2,210
179
LENSAR (1)(2)
888
10
LivaNova (1)
5,749
354
Lucid
Diagnostics (1)(2)
6,559
7
Merit
Medical
Systems (1)
6,163
543
Myomo (1)(2)
3,090
3
Neogen (1)
22,844
160
Neuronetics (1)
3,413
5
NeuroPace (1)
2,810
43
Novocure (1)
10,584
137
Omnicell (1)
4,840
219
OraSure
Technologies (1)
7,091
17
Orthofix
Medical (1)
3,968
60
OrthoPediatrics (1)(2)
1,648
29
Outset
Medical (1)
1,664
6
Picard
Medical (1)
519
1
PROCEPT
BioRobotics (1)(2)
5,561
175
Pro-Dex (1)(2)
200
8
Pulmonx (1)
4,193
9
Pulse
Biosciences (1)(2)
1,986
27
QuidelOrtho (1)
7,177
205
RxSight (1)
3,643
38
Sanara
Medtech (1)
378
9
SANUWAVE
Health (1)
659
20
Semler
Scientific (1)(2)
1,185
18
Shoulder
Innovations (1)
469
7
SI-BONE (1)
3,972
78
Sight
Sciences (1)
4,542
36
STAAR
Surgical (1)
5,199
120
T.
ROWE
PRICE
Small-Cap
Index
Fund
33
Shares
$
Value
(Cost
and
value
in
$000s)
‡
Stereotaxis (1)
6,965
16
Tactile
Systems
Technology (1)
2,422
70
Tandem
Diabetes
Care (1)
7,191
158
TransMedics
Group (1)
3,495
425
Treace
Medical
Concepts (1)(2)
4,873
12
UFP
Technologies (1)
782
174
Utah
Medical
Products
308
17
Varex
Imaging (1)
4,457
52
8,285
Health
Care
Providers
&
Services
3.3%
AdaptHealth (1)
10,659
106
Addus
HomeCare (1)
1,922
206
agilon
health (1)
29,640
20
AirSculpt
Technologies (1)(2)
1,364
3
Alignment
Healthcare (1)
14,990
296
AMN
Healthcare
Services (1)
4,024
63
Ardent
Health (1)(2)
2,273
20
Astrana
Health (1)
4,251
105
Aveanna
Healthcare
Holdings (1)
6,869
56
BrightSpring
Health
Services (1)
11,738
440
Brookdale
Senior
Living (1)
24,253
262
Castle
Biosciences (1)
2,995
116
Clover
Health
Investments (1)(2)
43,623
103
Community
Health
Systems (1)(2)
14,140
44
Concentra
Group
Holdings
Parent
12,352
243
CorVel (1)
3,082
209
Cross
Country
Healthcare (1)
3,074
25
DocGo (1)
8,970
8
Enhabit (1)
5,382
50
Ensign
Group
5,911
1,030
Fulgent
Genetics (1)
2,234
59
GeneDx
Holdings (1)
1,986
258
Guardant
Health (1)
12,777
1,305
Guardian
Pharmacy
Services,
Class
A (1)
2,431
73
HealthEquity (1)
8,982
823
Hims
&
Hers
Health (1)(2)
21,590
701
Innovage
Holding (1)
1,899
10
Joint (1)(2)
1,419
12
LifeStance
Health
Group (1)
16,835
119
Nano-X
Imaging (1)
6,035
17
National
HealthCare
1,321
181
National
Research
1,279
24
NeoGenomics (1)
13,499
159
T.
ROWE
PRICE
Small-Cap
Index
Fund
34
Shares
$
Value
(Cost
and
value
in
$000s)
‡
Nutex
Health (1)
363
60
Omada
Health (1)
907
14
Oncology
Institute (1)(2)
7,015
25
OPKO
Health (1)
44,458
56
Option
Care
Health (1)
16,833
536
Oscar
Health,
Class
A (1)
20,476
294
Owens
&
Minor (1)(2)
7,281
20
PACS
Group (1)(2)
4,606
177
Pediatrix
Medical
Group (1)
9,096
195
Pennant
Group (1)
3,615
102
Privia
Health
Group (1)
12,143
288
Progyny (1)
7,958
204
RadNet (1)
7,197
513
SBC
Medical
Group
Holdings (1)
529
2
Select
Medical
Holdings
11,420
170
Sonida
Senior
Living (1)
517
17
Strata
Critical
Medical (1)(2)
7,068
34
Surgery
Partners (1)
8,033
124
Talkspace (1)(2)
15,668
57
U.S.
Physical
Therapy
1,567
122
Viemed
Healthcare (1)
3,469
26
10,182
Health
Care
Technology
0.3%
Definitive
Healthcare (1)
4,558
13
Evolent
Health,
Class
A (1)
12,402
50
Health
Catalyst (1)(2)
6,360
15
HealthStream
2,590
60
HeartFlow (1)
2,024
59
LifeMD (1)(2)
3,476
12
Multiplan (1)(2)
754
32
OptimizeRx (1)(2)
1,730
21
Phreesia (1)
5,973
101
Schrodinger (1)
6,094
109
Simulations
Plus (1)
1,659
30
Teladoc
Health (1)(2)
18,933
132
TruBridge (1)(2)
939
21
Waystar
Holding (1)
11,528
378
1,033
Life
Sciences
Tools
&
Services
0.5%
10X
Genomics,
Class
A (1)
11,499
188
Adaptive
Biotechnologies (1)
15,815
257
Alpha
Teknova (1)
1,152
4
Atlantic
International (1)
1,007
1
T.
ROWE
PRICE
Small-Cap
Index
Fund
35
Shares
$
Value
(Cost
and
value
in
$000s)
‡
Azenta (1)(2)
4,392
146
BioLife
Solutions (1)
4,392
106
Codexis (1)(2)
8,405
14
CryoPort (1)
5,302
51
Cytek
Biosciences (1)(2)
12,695
64
Fortrea
Holdings (1)
9,667
167
Ginkgo
Bioworks
Holdings (1)(2)
4,366
36
Lifecore
Biomedical (1)(2)
2,595
21
Maravai
LifeSciences
Holdings,
Class
A (1)(2)
11,471
37
MaxCyte (1)
9,855
15
Mesa
Laboratories
557
44
Niagen
Bioscience (1)(2)
5,112
33
Omniab (1)
9,457
17
Omniab,
Earn
Out
Shares
$12.50 (1)
233
-
Omniab,
Earn
Out
Shares
$15.00 (1)
233
-
Pacific
Biosciences
of
California (1)
29,688
56
Personalis (1)(2)
5,292
42
Quanterix (1)(2)
4,041
26
Quantum-Si (1)
17,708
19
Standard
BioTools (1)
32,615
42
1,386
Pharmaceuticals
2.6%
Aardvark
Therapeutics (1)
1,069
14
Aclaris
Therapeutics (1)
8,561
26
Alumis (1)(2)
5,977
58
Amneal
Pharmaceuticals (1)
15,951
201
Amphastar
Pharmaceuticals (1)
3,887
104
Amylyx
Pharmaceuticals (1)(2)
8,961
108
ANI
Pharmaceuticals (1)
1,954
154
Aquestive
Therapeutics (1)(2)
10,288
66
Arvinas (1)
6,946
82
Atea
Pharmaceuticals (1)(2)
7,019
25
Avadel
Pharmaceuticals (1)
9,456
204
Axsome
Therapeutics (1)
4,298
785
BioAge
Labs (1)
2,634
35
Biote,
Class
A (1)
2,536
7
Collegium
Pharmaceutical (1)
3,339
155
CorMedix (1)(2)
7,401
86
Crinetics
Pharmaceuticals (1)
9,525
443
Edgewise
Therapeutics (1)(2)
7,014
174
Enliven
Therapeutics (1)(2)
4,029
62
Esperion
Therapeutics (1)
23,467
87
Eton
Pharmaceuticals (1)(2)
2,797
47
T.
ROWE
PRICE
Small-Cap
Index
Fund
36
Shares
$
Value
(Cost
and
value
in
$000s)
‡
Evolus (1)(2)
5,972
40
EyePoint (1)(2)
7,672
140
Fulcrum
Therapeutics (1)
4,638
52
Harmony
Biosciences
Holdings (1)
4,691
176
Harrow (1)(2)
3,388
166
Indivior (1)
12,789
459
Innoviva (1)
6,782
136
Journey
Medical (1)(2)
1,149
9
LB
Pharmaceuticals (1)
2,007
45
LENZ
Therapeutics (1)(2)
1,762
28
Ligand
Pharmaceuticals (1)
2,010
380
Liquidia (1)(2)
6,789
234
Maze
Therapeutics (1)
2,167
90
MBX
Biosciences (1)
2,847
90
MediWound (1)(2)
780
14
Mind
Medicine
MindMed (1)
9,534
128
Nuvation
Bio (1)(2)
25,528
229
Ocular
Therapeutix (1)
19,127
232
Omeros (1)(2)
6,814
117
Pacira
BioSciences (1)
4,838
125
Phathom
Pharmaceuticals (1)(2)
4,073
68
Phibro
Animal
Health,
Class
A
2,143
80
Prestige
Consumer
Healthcare (1)
5,221
322
Rapport
Therapeutics (1)
2,849
86
Septerna (1)
2,329
65
SIGA
Technologies
4,204
26
Supernus
Pharmaceuticals (1)
5,727
285
Tarsus
Pharmaceuticals (1)
4,140
339
Terns
Pharmaceuticals (1)
9,054
366
Theravance
Biopharma (1)(2)
4,070
76
Third
Harmonic
Bio (1)(2)(3)
2,206
-
Trevi
Therapeutics (1)
9,154
115
Tvardi
Therapeutics (1)
466
2
WaVe
Life
Sciences (1)
11,854
201
Xeris
Biopharma
Holdings (1)
15,849
124
Zevra
Therapeutics (1)(2)
5,897
53
8,021
Total
Health
Care
57,258
INDUSTRIALS
&
BUSINESS
SERVICES
17.3%
Aerospace
&
Defense
1.9%
AAR (1)
4,037
334
AeroVironment (1)
3,981
963
AerSale (1)
3,158
22
T.
ROWE
PRICE
Small-Cap
Index
Fund
37
Shares
$
Value
(Cost
and
value
in
$000s)
‡
AIRO
Group
Holdings (1)(2)
689
6
Archer
Aviation,
Class
A (1)
66,036
497
Astronics (1)
3,153
171
Byrna
Technologies (1)(2)
1,778
30
Cadre
Holdings (2)
2,984
122
Ducommun (1)
1,435
137
Eve
Holding (1)(2)
9,269
37
Firefly
Aerospace (1)
2,242
50
Intuitive
Machines (1)(2)
11,385
185
Kratos
Defense
&
Security
Solutions (1)
17,537
1,331
Mercury
Systems (1)
5,493
401
Moog,
Class
A
2,962
721
National
Presto
Industries
563
60
Park
Aerospace
2,051
44
Red
Cat
Holdings (1)(2)
10,190
81
Redwire (1)
7,134
54
Satellogic,
Class
A (1)
6,481
12
V2X (1)
2,344
128
Voyager
Technologies,
Class
A (1)
1,353
35
VSE
2,383
412
5,833
Air
Freight
&
Logistics
0.1%
Arrive
AI (1)
363
1
Forward
Air (1)(2)
2,290
57
Hub
Group,
Class
A
6,314
269
Radiant
Logistics (1)
3,345
21
348
Building
Products
1.5%
American
Woodmark (1)
1,540
83
Apogee
Enterprises
2,223
81
AZZ
3,134
336
CSW
Industrials (2)
1,718
504
Gibraltar
Industries (1)
3,169
157
Griffon
4,052
299
Insteel
Industries
1,999
63
Janus
International
Group (1)
14,098
92
JELD-WEN
Holding (1)
8,272
20
Masterbrand (1)
13,654
151
Modine
Manufacturing (1)
5,519
737
Quanex
Building
Products
4,964
76
Resideo
Technologies (1)
13,619
478
Tecnoglass
2,761
139
UFP
Industries
6,129
558
T.
ROWE
PRICE
Small-Cap
Index
Fund
38
Shares
$
Value
(Cost
and
value
in
$000s)
‡
Zurn
Elkay
Water
Solutions
15,830
736
4,510
Commercial
Services
&
Supplies
1.4%
ABM
Industries
6,446
273
ACCO
Brands
9,099
34
ACV
Auctions,
Class
A (1)
17,486
140
BrightView
Holdings (1)
7,519
95
Brink's
4,439
518
Casella
Waste
Systems,
Class
A (1)
6,624
649
Cimpress (1)
1,766
118
CompX
International
167
4
CoreCivic (1)
11,198
214
Deluxe
4,640
104
Ennis
2,701
49
Enviri (1)
8,026
144
GEO
Group (1)
14,412
232
Healthcare
Services
Group (1)
7,497
143
HNI
6,751
284
Interface
6,149
172
Liquidity
Services (1)
2,390
72
MillerKnoll
7,050
129
Mobile
Infrastructure (1)
1,370
3
Montrose
Environmental
Group (1)
3,427
85
NL
Industries
1,083
6
OPENLANE (1)
11,120
331
Perma-Fix
Environmental
Services (1)(2)
1,800
23
Pitney
Bowes
17,127
181
Quad/Graphics
2,786
17
UniFirst
1,547
298
Vestis (2)
11,873
79
Virco
Mfg. (2)
1,042
7
4,404
Construction
&
Engineering
2.4%
Ameresco,
Class
A (1)
3,352
98
Arcosa
5,119
544
Argan
1,410
442
Bowman
Consulting
Group (1)
1,527
50
Centuri
Holdings (1)
8,033
203
Concrete
Pumping
Holdings
2,426
16
Construction
Partners,
Class
A (1)
4,947
537
Dycom
Industries (1)
2,951
997
Fluor (1)
16,965
672
Granite
Construction
4,615
532
T.
ROWE
PRICE
Small-Cap
Index
Fund
39
Shares
$
Value
(Cost
and
value
in
$000s)
‡
Great
Lakes
Dredge
&
Dock (1)
7,005
92
IES
Holdings (1)(2)
953
371
Legence,
Class
A (1)
3,865
166
Limbach
Holdings (1)(2)
1,136
89
Matrix
Service (1)
3,022
35
MYR
Group (1)
1,628
356
NWPX
Infrastructure (1)
1,032
65
Orion
Group
Holdings (1)
4,017
40
Primoris
Services
5,699
708
Southland
Holdings (1)
912
3
Sterling
Infrastructure (1)
3,139
961
Tutor
Perini
4,699
315
7,292
Electrical
Equipment
2.4%
Allient
1,484
80
American
Superconductor (1)
4,640
134
Amprius
Technologies (1)
11,126
88
Array
Technologies (1)(2)
15,840
146
Atkore
3,561
225
Bloom
Energy,
Class
A (1)
22,986
1,997
EnerSys
3,935
577
Enovix (1)(2)
17,709
129
Eos
Energy
Enterprises (1)(2)
31,910
366
Fluence
Energy (1)(2)
6,798
134
Hyliion
Holdings (1)
12,043
22
KULR
Technology
Group (1)(2)
3,106
9
LSI
Industries
2,886
53
NANO
Nuclear
Energy (1)(2)
4,060
97
Net
Power (1)(2)
3,218
7
Nextpower,
Class
A (1)
15,348
1,337
NuScale
Power (1)
13,452
191
Plug
Power (1)(2)
116,214
229
Powell
Industries (2)
1,007
321
Power
Solutions
International (1)(2)
839
48
Preformed
Line
Products (2)
261
54
Shoals
Technologies
Group,
Class
A (1)
18,084
154
SKYX
Platforms (1)
5,806
13
SunPower (1)(2)
5,700
9
Sunrun (1)
23,587
434
T1
Energy (1)(2)
13,324
89
Thermon
Group
Holdings (1)
3,441
128
Vicor (1)
2,433
267
7,338
T.
ROWE
PRICE
Small-Cap
Index
Fund
40
Shares
$
Value
(Cost
and
value
in
$000s)
‡
Ground
Transportation
0.3%
ArcBest
2,422
180
Covenant
Logistics
Group
1,525
34
FTAI
Infrastructure (2)
11,687
54
Heartland
Express
4,973
45
Hertz
Global
Holdings (1)(2)
12,375
64
Marten
Transport
6,278
71
PAMT (1)
565
7
Proficient
Auto
Logistics (1)
2,742
26
RXO (1)(2)
17,184
217
Universal
Logistics
Holdings (2)
672
10
Werner
Enterprises
6,217
186
894
Industrial
Conglomerates
0.0%
Brookfield
Business,
Class
A (2)
2,497
90
90
Machinery
3.8%
3D
Systems (1)(2)
13,606
24
Aebi
Schmidt
Holding (2)
4,040
51
AirJoule
Technologies (1)(2)
2,032
8
Alamo
Group
1,097
184
Albany
International,
Class
A
3,139
159
Alliance
Laundry
Holdings (1)
4,563
93
Astec
Industries
2,403
104
Atmus
Filtration
Technologies
8,807
457
Blue
Bird (1)
3,402
160
CECO
Environmental (1)
3,129
187
Chart
Industries (1)
4,761
982
Columbus
McKinnon
3,074
53
Douglas
Dynamics
2,386
78
Eastern (2)
578
11
Energy
Recovery (1)
5,714
77
Enerpac
Tool
Group
5,630
215
Enpro
2,230
478
ESCO
Technologies
2,741
536
Federal
Signal
6,327
687
Franklin
Electric
4,096
391
Gencor
Industries (1)
975
13
Gorman-Rupp
2,183
104
Graham (1)
1,100
71
Greenbrier
3,141
147
Helios
Technologies
3,554
190
T.
ROWE
PRICE
Small-Cap
Index
Fund
41
Shares
$
Value
(Cost
and
value
in
$000s)
‡
Hillenbrand
7,295
231
Hillman
Solutions (1)
21,231
184
Hyster-Yale
1,284
38
JBT
Marel
5,499
829
Kadant (2)
1,242
354
Kennametal
8,056
229
L
B
Foster,
Class
A (1)
1,162
31
Lindsay
1,134
134
Luxfer
Holdings
2,643
36
Manitowoc (1)
3,766
45
Mayville
Engineering (1)(2)
1,434
27
Microvast
Holdings (1)(2)
20,552
58
Miller
Industries
1,207
45
Mueller
Water
Products,
Class
A
16,455
392
Omega
Flex
343
10
Palladyne
AI (1)(2)
2,400
10
Park-Ohio
Holdings
945
20
Proto
Labs (1)
2,489
126
REV
Group
5,128
312
Richtech
Robotics,
Class
B (1)
14,950
48
SPX
Technologies (1)
5,074
1,015
Standex
International
1,272
276
Tennant
1,915
141
Terex
6,804
363
Titan
International (1)(2)
5,316
42
Trinity
Industries
8,514
225
Wabash
National
4,505
39
Watts
Water
Technologies,
Class
A
2,892
798
Worthington
Enterprises
3,371
174
11,692
Marine
Transportation
0.2%
Costamare
4,757
75
Costamare
Bulkers
Holdings (1)
784
12
Genco
Shipping
&
Trading
3,029
56
Himalaya
Shipping (2)
2,865
26
Matson
3,318
410
Pangaea
Logistics
Solutions
2,955
20
Safe
Bulkers
5,696
28
627
Passenger
Airlines
0.5%
Allegiant
Travel (1)
1,512
129
flyExclusive (1)
511
2
Frontier
Group
Holdings (1)(2)
8,598
40
T.
ROWE
PRICE
Small-Cap
Index
Fund
42
Shares
$
Value
(Cost
and
value
in
$000s)
‡
JetBlue
Airways (1)(2)
31,588
144
Joby
Aviation (1)(2)
51,230
676
SkyWest (1)
4,268
429
Sun
Country
Airlines
Holdings (1)
5,364
77
1,497
Professional
Services
1.7%
Alight,
Class
A
45,025
88
Asure
Software (1)
2,915
27
Barrett
Business
Services
2,602
94
BlackSky
Technology (1)(2)
3,355
63
CBIZ (1)(2)
5,248
265
Conduent (1)
16,513
32
CRA
International
681
137
CSG
Systems
International
2,941
225
Exponent
5,365
373
Falcon's
Beyond
Global,
Class
A (1)
1,519
23
First
Advantage (1)
8,304
121
Forrester
Research (1)
1,018
8
Franklin
Covey (1)(2)
1,018
17
HireQuest (2)
581
6
Huron
Consulting
Group (1)
1,800
311
IBEX
Holdings (1)
1,012
39
ICF
International
1,972
168
Innodata (1)(2)
3,288
167
Insperity
3,884
150
Kelly
Services,
Class
A
3,491
31
Kforce
1,940
60
Korn
Ferry
5,451
360
Legalzoom.com (1)
12,948
129
Maximus
5,967
515
Mistras
Group (1)
922
12
Planet
Labs
PBC (1)
25,110
495
RCM
Technologies (1)
463
9
Resolute
Holdings
Management (1)
461
95
Resources
Connection (2)
2,986
15
Skillsoft (1)(2)
422
4
Spire
Global (1)(2)
3,065
23
TIC
Solutions (1)(2)
20,477
207
TriNet
Group
3,172
188
TrueBlue (1)
2,637
12
TTEC
Holdings (1)(2)
2,045
7
Upwork (1)
12,996
258
Verra
Mobility (1)
16,867
378
T.
ROWE
PRICE
Small-Cap
Index
Fund
43
Shares
$
Value
(Cost
and
value
in
$000s)
‡
Willdan
Group (1)
1,493
155
5,267
Trading
Companies
&
Distributors
1.1%
Alta
Equipment
Group
2,315
11
BlueLinx
Holdings (1)
779
48
Boise
Cascade
3,985
293
Custom
Truck
One
Source (1)
6,773
39
Distribution
Solutions
Group (1)(2)
953
26
DNOW (1)
19,425
257
DXP
Enterprises (1)
1,352
148
EVI
Industries
548
14
GATX
3,783
642
Global
Industrial
1,568
46
Herc
Holdings
3,444
511
Hudson
Technologies (1)
3,966
27
Karat
Packaging
1,021
23
McGrath
RentCorp
2,593
272
NPK
International (1)
8,584
102
Rush
Enterprises,
Class
A
6,446
348
Rush
Enterprises,
Class
B
899
51
Titan
Machinery (1)
2,296
35
Transcat (1)
995
56
Willis
Lease
Finance
319
43
Xometry,
Class
A (1)(2)
4,590
273
3,265
Transportation
Infrastructure
0.0%
Sky
Harbour
Group (1)(2)
2,001
18
18
Total
Industrials
&
Business
Services
53,075
INFORMATION
TECHNOLOGY
14.5%
Communications
Equipment
0.9%
ADTRAN
Holdings (1)
8,002
69
Applied
Optoelectronics (1)(2)
6,388
223
Aviat
Networks (1)
1,148
25
BK
Technologies (1)
305
23
Calix (1)
6,221
329
Clearfield (1)(2)
1,139
33
CommScope
Holding (1)
23,030
417
Digi
International (1)
3,909
169
Extreme
Networks (1)
14,033
234
Harmonic (1)
11,723
116
Inseego (1)(2)
1,174
12
T.
ROWE
PRICE
Small-Cap
Index
Fund
44
Shares
$
Value
(Cost
and
value
in
$000s)
‡
NETGEAR (1)
2,903
71
NetScout
Systems (1)
7,415
201
Ribbon
Communications (1)(2)
10,440
30
Viasat (1)
13,033
449
Viavi
Solutions (1)
23,339
416
2,817
Electronic
Equipment,
Instruments
&
Components
3.4%
908
Devices (1)(2)
2,690
14
Advanced
Energy
Industries
3,970
831
Aeva
Technologies (1)(2)
4,070
54
Arlo
Technologies (1)
10,696
150
Badger
Meter
3,128
546
Bel
Fuse,
Class
A
167
25
Bel
Fuse,
Class
B (2)
1,081
183
Belden
4,130
481
Benchmark
Electronics
3,834
164
Climb
Global
Solutions (2)
424
44
CTS
3,043
130
Daktronics (1)
4,052
80
ePlus
2,789
245
Evolv
Technologies
Holdings (1)
15,464
111
Fabrinet (1)
3,799
1,730
Frequency
Electronics (1)(2)
621
33
Insight
Enterprises (1)
3,055
249
Itron (1)
4,783
444
Kimball
Electronics (1)
2,561
71
Knowles (1)
9,041
194
Methode
Electronics
3,318
22
MicroVision (1)(2)
27,296
23
Mirion
Technologies (1)
21,523
504
M-Tron
Industries (1)
232
12
Napco
Security
Technologies
3,711
155
Neonode (1)
988
2
nLight (1)
4,916
184
Novanta (1)(2)
3,807
453
OSI
Systems (1)(2)
1,688
430
Ouster (1)
5,471
118
PC
Connection
1,193
69
Plexus (1)
2,835
417
Powerfleet (1)(2)
13,117
70
Richardson
Electronics (2)
1,095
12
Rogers (1)
1,916
175
Sanmina (1)
5,502
826
T.
ROWE
PRICE
Small-Cap
Index
Fund
45
Shares
$
Value
(Cost
and
value
in
$000s)
‡
ScanSource (1)
2,166
85
TTM
Technologies (1)
10,688
737
Vishay
Intertechnology
12,828
186
Vishay
Precision
Group (1)
1,303
50
Vuzix (1)(2)
6,047
23
10,332
IT
Services
0.6%
Applied
Digital (1)(2)
25,042
614
ASGN (1)
4,416
213
Backblaze,
Class
A (1)
5,453
25
BigBear.ai
Holdings (1)(2)
44,606
241
Commerce.com,
Series
1 (1)
6,544
27
Crexendo (1)
1,370
9
CSP (2)
659
8
DigitalOcean
Holdings (1)
7,236
348
Fastly,
Class
A (1)
14,380
146
Grid
Dynamics
Holdings (1)
7,105
64
Hackett
Group
2,683
53
Information
Services
Group
3,299
19
Rackspace
Technology (1)
7,867
8
TSS (1)(2)
1,712
12
Tucows,
Class
A (1)
738
17
Unisys (1)
6,493
18
VTEX,
Class
A (1)
5,423
20
Whitefiber (1)
1,138
18
1,860
Semiconductors
&
Semiconductor
Equipment
3.4%
ACM
Research,
Class
A (1)
5,350
211
Aehr
Test
Systems (1)(2)
3,060
62
Aeluma (1)(2)
1,502
26
Alpha
&
Omega
Semiconductor (1)
2,608
52
Ambarella (1)
4,310
305
Ambiq
Micro (1)
459
13
Atomera (1)(2)
2,759
6
Axcelis
Technologies (1)
3,285
264
Blaize
Holdings (1)
7,219
14
CEVA (1)
2,473
53
Cohu (1)
4,757
111
Credo
Technology
Group
Holding (1)
16,089
2,315
Diodes (1)
4,851
239
FormFactor (1)
8,206
458
Ichor
Holdings (1)
3,576
66
Impinj (1)
2,843
495
T.
ROWE
PRICE
Small-Cap
Index
Fund
46
Shares
$
Value
(Cost
and
value
in
$000s)
‡
indie
Semiconductor,
Class
A (1)(2)
20,322
72
Kopin (1)(2)
17,342
41
Kulicke
&
Soffa
Industries
5,394
246
MaxLinear (1)
8,822
154
Navitas
Semiconductor (1)(2)
16,204
116
NVE (2)
523
31
PDF
Solutions (1)
3,344
95
Penguin
Solutions (1)
5,623
110
Photronics (1)
6,049
193
Power
Integrations
5,929
211
Rambus (1)
11,355
1,043
Rigetti
Computing (1)(2)
33,629
745
Semtech (1)
9,183
677
Silicon
Laboratories (1)
3,400
444
SiTime (1)
2,268
801
SkyWater
Technology (1)(2)
2,865
52
Synaptics (1)
4,070
301
Ultra
Clean
Holdings (1)
4,814
122
Veeco
Instruments (1)
6,130
175
10,319
Software
5.5%
8x8 (1)
14,862
29
A10
Networks
7,643
135
ACI
Worldwide (1)
10,911
522
Adeia
11,320
195
Agilysys (1)(2)
2,731
325
Airship
AI
Holdings (1)(2)
1,891
5
Alarm.com
Holdings (1)
5,032
257
Alkami
Technology (1)(2)
7,331
169
Amplitude,
Class
A (1)
9,472
110
Appian,
Class
A (1)
4,136
147
Arteris (1)
3,175
49
Asana,
Class
A (1)
9,061
124
AudioEye (1)
707
7
AvePoint (1)
15,075
209
Bit
Digital (1)(2)
33,220
63
Bitdeer
Technologies
Group,
Class
A (1)
9,930
111
Blackbaud (1)
4,048
256
BlackLine (1)
5,496
304
Blend
Labs,
Class
A (1)(2)
20,185
61
Box,
Class
A (1)
14,823
443
Braze,
Class
A (1)
8,800
302
C3.ai,
Class
A (1)(2)
13,118
177
T.
ROWE
PRICE
Small-Cap
Index
Fund
47
Shares
$
Value
(Cost
and
value
in
$000s)
‡
Cerence (1)
4,254
46
Chaince
Digital
Holdings (1)(2)
3,478
17
Cipher
Mining (1)(2)
34,201
505
Cleanspark (1)(2)
29,237
296
Clearwater
Analytics
Holdings,
Class
A (1)
29,390
709
Commvault
Systems (1)
4,712
591
Consensus
Cloud
Solutions (1)
2,114
46
Core
Scientific (1)
30,231
440
CS
Disco (1)
2,764
21
Daily
Journal (1)(2)
137
67
Digimarc (1)(2)
1,474
10
Digital
Turbine (1)
11,030
55
Domo,
Class
B (1)
3,344
28
D-Wave
Quantum (1)(2)
35,228
921
eGain (1)(2)
1,863
19
EverCommerce (1)(2)
1,812
22
Expensify,
Class
A (1)
5,638
9
Five9 (1)
8,102
162
Freshworks,
Class
A (1)
21,221
260
Hut
8 (1)
10,094
464
I3
Verticals,
Class
A (1)
2,461
62
Intapp (1)
6,004
275
InterDigital
2,727
868
Jamf
Holding (1)
8,359
109
Kaltura (1)
8,349
14
Life360 (1)(2)
2,082
134
LiveRamp
Holdings (1)
6,729
198
MARA
Holdings (1)(2)
39,141
352
Mitek
Systems (1)
4,861
51
N-able (1)
7,794
58
NCR
Voyix (1)(2)
14,453
147
NextNav (1)(2)
9,680
161
ON24 (1)
3,524
28
OneSpan
3,626
47
Ooma (1)
2,507
29
Pagaya
Technologies,
Class
A (1)(2)
5,169
108
PagerDuty (1)
9,534
125
PAR
Technology (1)(2)
4,174
151
Porch
Group (1)(2)
8,762
80
Progress
Software (1)
4,534
195
Q2
Holdings (1)
6,561
473
Qualys (1)
3,852
512
Rapid7 (1)
6,692
102
T.
ROWE
PRICE
Small-Cap
Index
Fund
48
Shares
$
Value
(Cost
and
value
in
$000s)
‡
Red
Violet
1,195
68
ReposiTrak (2)
1,028
13
Rezolve
AI (1)(2)
19,515
50
Rimini
Street (1)
5,023
20
Riot
Platforms (1)
36,763
466
SEMrush
Holdings,
Class
A (1)
5,664
67
Silvaco
Group (1)
1,133
5
SoundHound
AI,
Class
A (1)(2)
39,555
394
SoundThinking (1)
865
7
Sprinklr,
Class
A (1)
11,739
91
Sprout
Social,
Class
A (1)
5,694
64
SPS
Commerce (1)
4,019
358
Synchronoss
Technologies (1)(2)
1,023
9
Telos (1)
5,407
28
Tenable
Holdings (1)
12,813
302
Terawulf (1)(2)
32,016
368
Varonis
Systems (1)
12,269
402
Vertex,
Class
A (1)
7,141
143
Via
Transportation,
Class
A (1)
1,075
31
Viant
Technology,
Class
A (1)
1,477
18
Weave
Communications (1)
6,379
48
WM
Technology (1)
8,063
7
Workiva (1)
5,289
456
Xperi (1)(2)
4,329
25
Yext (1)
10,855
88
Zeta
Global
Holdings,
Class
A (1)(2)
19,675
400
16,895
Technology
Hardware,
Storage
&
Peripherals
0.7%
CompoSecure,
Class
A (1)
5,805
112
Corsair
Gaming (1)
4,574
27
CPI
Card
Group (1)
599
9
Diebold
Nixdorf (1)
2,626
178
Eastman
Kodak (1)
4,426
37
Immersion
2,733
19
IonQ (1)(2)
35,580
1,597
Quantum
Computing (1)
20,684
212
Turtle
Beach (1)
1,750
25
Xerox
Holdings (2)
11,503
27
2,243
Total
Information
Technology
44,466
T.
ROWE
PRICE
Small-Cap
Index
Fund
49
Shares
$
Value
(Cost
and
value
in
$000s)
‡
MATERIALS
4.4%
Chemicals
1.5%
AdvanSix
2,929
51
American
Vanguard (1)
2,358
9
Arq (1)
2,982
10
Ascent
Industries (1)
753
12
ASP
Isotopes (1)
9,037
48
Aspen
Aerogels (1)
6,489
18
Avient
9,708
303
Balchem
3,462
531
Cabot
5,620
372
Chemours (2)
15,951
188
Core
Molding
Technologies (1)
840
17
Ecovyst (1)
12,247
119
Flotek
Industries (1)(2)
1,658
29
Hawkins
2,062
293
HB
Fuller
5,772
343
Ingevity (1)
3,858
228
Innospec
2,633
202
Intrepid
Potash (1)(2)
1,079
30
Koppers
Holdings
2,049
55
Kronos
Worldwide
2,219
10
LSB
Industries (1)
5,848
50
Mativ
Holdings
5,715
69
Minerals
Technologies
3,349
204
Orion
5,355
28
Perimeter
Solutions (1)
14,675
404
PureCycle
Technologies (1)(2)
14,007
120
Quaker
Chemical
1,458
200
Rayonier
Advanced
Materials (1)(2)
7,229
43
Sensient
Technologies
4,455
419
Solesence (1)
1,781
3
Stepan
2,253
107
Trinseo (2)
3,215
2
Tronox
Holdings
12,913
54
Valhi
173
2
4,573
Construction
Materials
0.2%
Knife
River (1)
6,024
424
Smith-Midland (1)(2)
251
9
Titan
America
2,719
45
T.
ROWE
PRICE
Small-Cap
Index
Fund
50
Shares
$
Value
(Cost
and
value
in
$000s)
‡
United
States
Lime
&
Minerals
1,165
139
617
Containers
&
Packaging
0.2%
Ardagh
Metal
Packaging
14,143
58
Greif,
Class
A
2,687
182
Greif,
Class
B
457
34
Myers
Industries
3,922
74
O-I
Glass (1)
16,258
240
Ranpak
Holdings (1)(2)
4,834
26
TriMas
3,306
117
731
Metals
&
Mining
2.4%
Alpha
Metallurgical
Resources (1)
1,239
248
American
Battery
Technology (1)(2)
10,864
36
Caledonia
Mining
1,802
47
Century
Aluminum (1)
5,503
216
Coeur
Mining (1)
67,365
1,201
Commercial
Metals
11,725
812
Compass
Minerals
International (1)
3,657
72
Constellium (1)
14,515
274
Contango
ORE (1)(2)
1,000
26
Critical
Metals (1)(2)
4,233
29
Dakota
Gold (1)
9,349
53
Ferroglobe
12,935
60
Friedman
Industries
629
13
Hecla
Mining
66,869
1,283
Idaho
Strategic
Resources (1)(2)
1,382
56
Ivanhoe
Electric (1)
10,870
174
Kaiser
Aluminum
1,674
192
Lifezone
Metals (1)
2,990
13
Materion
2,196
273
Metallus (1)
3,952
68
NioCorp
Developments (1)
10,533
56
Novagold
Resources (1)
32,049
299
Olympic
Steel
1,082
46
Perpetua
Resources (1)
8,732
211
Ramaco
Resources,
Class
A (1)
4,080
73
Ryerson
Holding (2)
2,865
72
SSR
Mining (1)
21,472
471
SunCoke
Energy
9,164
66
Tredegar (1)
2,733
20
U.S.
Antimony (1)(2)
11,626
58
U.S.
Gold (1)(2)
1,359
26
T.
ROWE
PRICE
Small-Cap
Index
Fund
51
Shares
$
Value
(Cost
and
value
in
$000s)
‡
U.S.
Goldmining (1)
152
1
USA
Rare
Earth (1)
9,183
109
Vox
Royalty (2)
5,344
25
Warrior
Met
Coal
5,496
485
Worthington
Steel
3,459
120
7,284
Paper
&
Forest
Products
0.1%
Clearwater
Paper (1)
1,571
27
Magnera (1)
3,620
55
Sylvamo
3,689
178
260
Total
Materials
13,465
REAL
ESTATE
5.7%
Diversified
Real
Estate
Investment
Trusts
0.5%
Alexander
&
Baldwin,
REIT
7,605
157
Alpine
Income
Property
Trust,
REIT
1,426
24
American
Assets
Trust,
REIT
5,433
103
Armada
Hoffler
Properties,
REIT
8,654
57
Broadstone
Net
Lease,
REIT
20,016
348
CTO
Realty
Growth,
REIT (2)
3,291
61
Essential
Properties
Realty
Trust,
REIT
20,938
621
Gladstone
Commercial,
REIT
4,924
52
Global
Net
Lease,
REIT
21,228
182
Modiv
Industrial,
REIT (2)
882
13
NexPoint
Diversified
Real
Estate
Trust,
REIT (2)
3,389
13
1,631
Health
Care
Real
Estate
Investment
Trusts
1.0%
American
Healthcare
REIT,
REIT
17,805
838
CareTrust
REIT,
REIT
23,668
856
Community
Healthcare
Trust,
REIT
2,986
49
Diversified
Healthcare
Trust,
REIT
22,977
111
Global
Medical
REIT,
REIT (2)
1,392
47
LTC
Properties,
REIT
4,889
168
National
Health
Investors,
REIT
4,878
373
Sabra
Health
Care
REIT,
REIT
25,025
474
Sila
Realty
Trust,
REIT
5,789
135
Strawberry
Fields
REIT,
REIT
782
10
Universal
Health
Realty
Income
Trust,
REIT
1,423
56
3,117
Hotel
&
Resort
Real
Estate
Investment
Trusts
0.6%
Apple
Hospitality
REIT,
REIT
23,661
280
T.
ROWE
PRICE
Small-Cap
Index
Fund
52
Shares
$
Value
(Cost
and
value
in
$000s)
‡
Braemar
Hotels
&
Resorts,
REIT
5,746
16
Chatham
Lodging
Trust,
REIT
5,155
35
DiamondRock
Hospitality,
REIT
21,868
196
Pebblebrook
Hotel
Trust,
REIT
12,292
139
RLJ
Lodging
Trust,
REIT
13,661
102
Ryman
Hospitality
Properties,
REIT
6,508
616
Service
Properties
Trust,
REIT (2)
14,941
28
Summit
Hotel
Properties,
REIT
11,880
58
Sunstone
Hotel
Investors,
REIT
19,322
173
Xenia
Hotels
&
Resorts,
REIT
9,564
135
1,778
Industrial
Real
Estate
Investment
Trusts
0.4%
Industrial
Logistics
Properties
Trust,
REIT
5,775
32
Innovative
Industrial
Properties,
REIT
2,988
141
LXP
Industrial
Trust,
REIT
6,156
305
One
Liberty
Properties,
REIT
2,060
42
Plymouth
Industrial
REIT,
REIT
4,341
95
Terreno
Realty,
REIT
10,776
633
1,248
Office
Real
Estate
Investment
Trusts
0.5%
Brandywine
Realty
Trust,
REIT
18,654
55
City
Office
REIT,
REIT
3,871
27
COPT
Defense
Properties,
REIT
12,035
335
Douglas
Emmett,
REIT
17,155
189
Easterly
Government
Properties,
REIT
4,313
91
Empire
State
Realty
Trust,
Class
A,
REIT
14,405
94
Franklin
Street
Properties,
REIT
9,111
9
Hudson
Pacific
Properties,
REIT (1)
5,561
60
JBG
SMITH
Properties,
REIT (2)
6,188
105
NET
Lease
Office
Properties,
REIT (2)
1,632
42
Peakstone
Realty
Trust,
REIT (2)
3,985
57
Piedmont
Realty
Trust,
Class
A,
REIT
13,085
109
Postal
Realty
Trust,
Class
A,
REIT
2,492
40
SL
Green
Realty,
REIT
7,584
348
1,561
Real
Estate
Management
&
Development
0.7%
American
Realty
Investors (1)
57
1
Anywhere
Real
Estate (1)
11,105
157
Compass,
Class
A (1)
51,714
547
Cushman
&
Wakefield (1)
24,414
395
Douglas
Elliman (1)
6,907
16
eXp
World
Holdings (2)
9,204
83
T.
ROWE
PRICE
Small-Cap
Index
Fund
53
Shares
$
Value
(Cost
and
value
in
$000s)
‡
Forestar
Group (1)
2,099
52
FRP
Holdings (1)
1,160
26
Kennedy-Wilson
Holdings
12,779
124
Logistic
Properties
Of
The
Americas (1)
295
1
Marcus
&
Millichap
2,522
69
Maui
Land
&
Pineapple (1)
611
10
Newmark
Group,
Class
A
15,659
272
RE/MAX
Holdings,
Class
A (1)
1,840
14
Real
Brokerage (1)
14,399
53
RMR
Group,
Class
A (2)
1,553
23
Seaport
Entertainment
Group (1)(2)
704
14
St.
Joe
4,026
239
Stratus
Properties (1)(2)
630
15
Tejon
Ranch (1)(2)
2,378
38
Transcontinental
Realty
Investors (1)
179
10
2,159
Residential
Real
Estate
Investment
Trusts
0.4%
Apartment
Investment
&
Management,
Class
A,
REIT
6,996
41
BRT
Apartments,
REIT
1,079
16
Centerspace,
REIT
1,762
118
Clipper
Realty,
REIT
1,294
5
Elme
Communities,
REIT
9,166
159
Independence
Realty
Trust,
REIT
25,387
444
NexPoint
Residential
Trust,
REIT
2,351
71
UMH
Properties,
REIT
8,334
133
Veris
Residential,
REIT
7,524
112
1,099
Retail
Real
Estate
Investment
Trusts
1.2%
Acadia
Realty
Trust,
REIT
13,992
287
Alexander's,
REIT (2)
234
51
CBL
&
Associates
Properties,
REIT
1,875
69
Curbline
Properties,
REIT
10,295
239
FrontView,
REIT
2,071
30
Getty
Realty,
REIT
5,509
151
InvenTrust
Properties,
REIT
8,251
233
Kite
Realty
Group
Trust,
REIT
22,932
550
Macerich,
REIT
26,783
494
NETSTREIT,
REIT (2)
8,945
158
Phillips
Edison,
REIT
13,319
474
Saul
Centers,
REIT
1,382
44
SITE
Centers,
REIT
5,656
36
Tanger,
REIT
11,792
393
Urban
Edge
Properties,
REIT
13,446
258
T.
ROWE
PRICE
Small-Cap
Index
Fund
54
Shares
$
Value
(Cost
and
value
in
$000s)
‡
Whitestone
REIT,
REIT
4,866
68
3,535
Specialized
Real
Estate
Investment
Trusts
0.4%
Farmland
Partners,
REIT (2)
3,917
38
Four
Corners
Property
Trust,
REIT
10,894
251
Gladstone
Land,
REIT (2)
3,769
35
Outfront
Media,
REIT
15,280
368
PotlatchDeltic,
REIT
8,132
324
Safehold,
REIT
5,947
81
Smartstop
Self
Storage
REIT,
REIT
3,275
101
1,198
Total
Real
Estate
17,326
UTILITIES
3.1%
Electric
Utilities
1.0%
Genie
Energy,
Class
B
2,355
32
Hawaiian
Electric
Industries (1)
18,452
227
MGE
Energy
3,896
306
Oklo (1)(2)
11,440
821
Otter
Tail
4,075
329
Portland
General
Electric
11,938
573
TXNM
Energy
10,615
625
2,913
Gas
Utilities
1.0%
Brookfield
Infrastructure,
Class
A
12,698
577
Chesapeake
Utilities
2,419
302
New
Jersey
Resources
10,655
491
Northwest
Natural
Holding
4,336
203
ONE
Gas
6,316
488
RGC
Resources
771
16
Southwest
Gas
Holdings
6,825
546
Spire
6,153
509
3,132
Independent
Power
&
Renewable
Electricity
Producers
0.3%
Hallador
Energy (1)
3,252
62
Montauk
Renewables (1)(2)
5,931
10
Ormat
Technologies
6,432
710
782
Multi-Utilities
0.5%
Avista
8,510
328
Black
Hills
7,747
538
T.
ROWE
PRICE
Small-Cap
Index
Fund
55
Shares
$
Value
(Cost
and
value
in
$000s)
‡
Northwestern
Energy
Group
6,499
419
Unitil
1,904
92
1,377
Water
Utilities
0.3%
American
States
Water
4,086
296
Cadiz (1)
6,072
34
California
Water
Service
Group
6,319
274
Consolidated
Water
1,590
56
Global
Water
Resources
1,312
11
H2O
America
3,379
166
Middlesex
Water
1,862
94
Pure
Cycle (1)(2)
1,940
21
York
Water (2)
1,565
50
1,002
Total
Utilities
9,206
Total
Common
Stocks
(Cost
$262,648)
305,478
SHORT-TERM
INVESTMENTS
0.9%
Money
Market
Funds
0.9%
T.
Rowe
Price
Government
Reserve
Fund,
3.77% (4)(5)
2,736,153
2,736
Total
Short-Term
Investments
(Cost
$2,736)
2,736
SECURITIES
LENDING
COLLATERAL
6.2%
INVESTMENTS
IN
A
POOLED
ACCOUNT
THROUGH
SECURITIES
LENDING
PROGRAM
WITH
STATE
STREET
BANK
AND
TRUST
COMPANY 6.2%
Money
Market
Funds 6.2%
T.
Rowe
Price
Treasury
Reserve
Fund,
3.75% (4)(5)
19,052,414
19,052
Total
Investments
in
a
Pooled
Account
through
Securities
Lending
Program
with
State
Street
Bank
and
Trust
Company
19,052
Total
Securities
Lending
Collateral
(Cost
$19,052)
19,052
Total
Investments
in
Securities
106.8%
of
Net
Assets
(Cost
$284,436)
$
327,266
‡
Shares
and
Notional
Amount
are
denominated
in
U.S.
dollars
unless
otherwise
noted.
(1)
Non-income
producing
T.
ROWE
PRICE
Small-Cap
Index
Fund
56
.
.
.
.
.
.
.
.
.
.
(2)
See
Note
4
.
All
or
a
portion
of
this
security
is
on
loan
at
December
31,
2025.
(3)
See
Note
2.
Level
3
in
fair
value
hierarchy.
(4)
Seven-day
yield
(5)
Affiliated
Companies
CVR
Contingent
Value
Rights
ETF
Exchange-Traded
Fund
REIT
A
domestic
Real
Estate
Investment
Trust
whose
distributions
pass-through
with
original
tax
character
to
the
shareholder
T.
ROWE
PRICE
Small-Cap
Index
Fund
57
FUTURES
CONTRACTS
($000s)
Expiration
Date
Notional
Amount
Value
and
Unrealized
Gain
(Loss)
Long,
5
Russell
2000
E-Mini
Index
contracts
3/26
625
$
(10)
Net
payments
(receipts)
of
variation
margin
to
date
(10)
Variation
margin
receivable
(payable)
on
open
futures
contracts
$
(20)
T.
ROWE
PRICE
Small-Cap
Index
Fund
58
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
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
year
ended
December
31,
2025.
Net
realized
gain
(loss),
investment
income,
change
in
net
unrealized
gain/loss,
and
purchase
and
sales
cost
reflect
all
activity
for
the
period
then
ended.
Affiliate
Net
Realized
Gain
(Loss)
Change
in
Net
Unrealized
Gain/Loss
Investment
Income
T.
Rowe
Price
Government
Reserve
Fund,
3.77%
$
-
$
-
$
62++
T.
Rowe
Price
Treasury
Reserve
Fund,
3.75%
-
-
-++
Totals
$
-#
$
-
$
62+
Supplementary
Investment
Schedule
Affiliate
Value
12/31/24
Purchase
Cost
Sales
Cost
Value
12/31/25
T.
Rowe
Price
Government
Reserve
Fund,
3.77%
$
13,337
¤
¤
$
2,736
T.
Rowe
Price
Treasury
Reserve
Fund,
3.75%
-
¤
¤
19,052
Total
$
21,788^
#
Capital
gain
distributions
from
underlying
Price
funds
represented
$0
of
the
net
realized
gain
(loss).
++
Excludes
earnings
on
securities
lending
collateral,
which
are
subject
to
rebates
and
fees
as
described
in
Note
4
.
+
Investment
income
comprised
$62
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
$21,788.
T.
ROWE
PRICE
Small-Cap
Index
Fund
December
31,
2025
Statement
of
Assets
and
Liabilities
59
($000s,
except
shares
and
per
share
amounts)
Assets
Investments
in
securities,
at
value
(cost
$284,436)
$
327,266
Receivable
for
investment
securities
sold
468
Dividends
receivable
284
Cash
deposits
on
futures
contracts
191
Receivable
for
shares
sold
150
Due
from
affiliates
21
Other
assets
24
Total
assets
328,404
Liabilities
Obligation
to
return
securities
lending
collateral
19,052
Payable
for
shares
redeemed
2,069
Payable
for
investment
securities
purchased
461
Investment
management
fees
payable
24
Variation
margin
payable
on
futures
contracts
20
Other
liabilities
236
Total
liabilities
21,862
Commitments
and
Contingent
Liabilities
(note
7
)
NET
ASSETS
$
306,542
T.
ROWE
PRICE
Small-Cap
Index
Fund
December
31,
2025
Statement
of
Assets
and
Liabilities
60
($000s,
except
shares
and
per
share
amounts)
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
Net
Assets
Consist
of:
Total
distributable
earnings
(loss)
$
37,324
Paid-in
capital
applicable
to
17,775,901
shares
of
$0.0001
par
value
capital
stock
outstanding;
2,000,000,000
shares
of
the
Corporation
authorized
269,218
NET
ASSETS
$
306,542
NET
ASSET
VALUE
PER
SHARE
Investor
Class
(Net
assets:
$108;
Shares
outstanding:
6,307)
$
17.18
I
Class
(Net
assets:
$157,369;
Shares
outstanding:
9,125,697)
$
17.24
Z
Class
(Net
assets:
$149,065;
Shares
outstanding:
8,643,897)
$
17.25
T.
ROWE
PRICE
Small-Cap
Index
Fund
Statement
of
Operations
61
($000s)
Year
Ended
12/31/25
Investment
Income
(Loss)
Income
Dividend
(net
of
foreign
taxes
of
$6)
$
3,337
Securities
lending
179
.
Interest
6
Other
4
Total
income
3,526
Expenses
Investment
management
224
Shareholder
servicing
I
Class
52
Prospectus
and
shareholder
reports
Investor
Class
$
1
I
Class
4
Z
Class
3
8
Custody
and
accounting
274
Legal
and
audit
37
Directors
1
Miscellaneous
17
Waived
/
paid
by
Price
Associates
(415)
Total
expenses
198
Net
investment
income
3,328
T.
ROWE
PRICE
Small-Cap
Index
Fund
Statement
of
Operations
62
($000s)
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
Year
Ended
12/31/25
Realized
and
Unrealized
Gain
/
Loss
-
Net
realized
gain
(loss)
Securities
1,052
Futures
507
Net
realized
gain
1,559
Change
in
net
unrealized
gain
/
loss
Securities
29,420
Futures
(8)
Change
in
net
unrealized
gain
/
loss
29,412
Net
realized
and
unrealized
gain
/
loss
30,971
INCREASE
IN
NET
ASSETS
FROM
OPERATIONS
$
34,299
T.
ROWE
PRICE
Small-Cap
Index
Fund
Statement
of
Changes
in
Net
Assets
63
($000s)
Year
.
.
.
.
.
.
.
.
.
.
.
.
.
.
Ended
.
.
.
.
.
.
.
.
.
.
.
.
.
.
12/31/25
12/31/24
Increase
(Decrease)
in
Net
Assets
Operations
Net
investment
income
$
3,328
$
2,539
Net
realized
gain
1,559
3,691
Change
in
net
unrealized
gain
/
loss
29,412
12,907
Increase
in
net
assets
from
operations
34,299
19,137
Distributions
to
shareholders
Net
earnings
Investor
Class
(3)
(3)
I
Class
(3,653)
(4,053)
Z
Class
(3,615)
(2,351)
Decrease
in
net
assets
from
distributions
(7,271)
(6,407)
Capital
share
transactions
*
Shares
sold
I
Class
21,617
18,791
Z
Class
82,330
48,436
Distributions
reinvested
I
Class
3,653
4,053
Z
Class
3,615
2,351
Shares
redeemed
Investor
Class
-
(99)
I
Class
(14,911)
(12,097)
Z
Class
(23,169)
(16,245)
Increase
in
net
assets
from
capital
share
transactions
73,135
45,190
T.
ROWE
PRICE
Small-Cap
Index
Fund
Statement
of
Changes
in
Net
Assets
64
($000s)
The
accompanying
notes
are
an
integral
part
of
these
financial
statements.
Year
.
.
.
.
.
.
.
.
.
.
.
.
.
.
Ended
.
.
.
.
.
.
.
.
.
.
.
.
.
.
12/31/25
12/31/24
Net
Assets
Increase
during
period
100,163
57,920
Beginning
of
period
206,379
148,459
End
of
period
$
306,542
$
206,379
*Share
information
(000s)
Shares
sold
I
Class
1,449
1,249
Z
Class
5,117
3,152
Distributions
reinvested
I
Class
203
245
Z
Class
201
142
Shares
redeemed
Investor
Class
-
(6)
I
Class
(964)
(804)
Z
Class
(1,415)
(1,056)
Increase
in
shares
outstanding
4,591
2,922
T.
ROWE
PRICE
Small-Cap
Index
Fund
NOTES
TO
FINANCIAL
STATEMENTS
65
T.
Rowe
Price
Index
Trust,
Inc. (the
corporation)
is
registered
under
the
Investment
Company
Act
of
1940
(the
1940
Act).
The
Small-Cap
Index
Fund
(the
fund)
is
an
open-end
management
investment
company
established
by
the
corporation
and
intends
to
be
diversified
in
approximately
the
same
proportion
as
the
index
it
tracks
is
diversified.
The
fund
may
become
nondiversified
for
periods
of
time
solely
as
a
result
of
changes
in
the
composition
of
the
index
(for
example,
changes
in
the
relative
market
capitalization
or
index
weighting
of
one
or
more
securities
represented
in
the
index). The
fund
seeks to
track
the
performance
of
a
benchmark
index
that
measures
the
investment
return
of
small-capitalization
U.S.
stocks. The
fund
is
available
for
investment
only
by
mutual
funds,
college
savings
plans,
and
other
institutional
client
accounts
managed
by
T.
Rowe
Price
Associates,
Inc.,
or
its
affiliates
and
is
not
available
for
direct
purchase
by
members
of
the
public.
The
fund
has three classes
of
shares:
the
Small-Cap
Index
Fund
(Investor
Class),
the
Small-Cap
Index
Fund-I
Class
(I
Class)
and
the
Small-Cap
Index
Fund-Z
Class
(Z
Class).
I
Class
shares
require
a
$500,000
initial
investment
minimum,
although
the
minimum
generally
is
waived
or
reduced
for
financial
intermediaries,
eligible
retirement
plans,
and
certain
other
accounts.
The
Z
Class
is
only
available
to
funds
advised
by
T.
Rowe
Price
Associates,
Inc.
and
its
affiliates
and
other
clients
that
are
subject
to
a
contractual
fee
for
investment
management
services. Each
class
has
exclusive
voting
rights
on
matters
related
solely
to
that
class;
separate
voting
rights
on
matters
that
relate
to
all
classes;
and,
in
all
other
respects,
the
same
rights
and
obligations
as
the
other
classes.
NOTE
1
-
SIGNIFICANT
ACCOUNTING
POLICIES
Basis
of
Preparation
The fund
is
an
investment
company
and
follows
accounting
and
reporting
guidance
in
the
Financial
Accounting
Standards
Board
(FASB)
Accounting
Standards
Codification
Topic
946
(ASC
946).
The
accompanying
financial
statements
were
prepared
in
accordance
with
accounting
principles
generally
accepted
in
the
United
States
of
America
(GAAP),
including,
but
not
limited
to,
ASC
946.
GAAP
requires
the
use
of
estimates
made
by
management.
Management
believes
that
estimates
and
valuations
are
appropriate;
however,
actual
results
may
differ
from
those
estimates,
and
the
valuations
reflected
in
the
accompanying
financial
statements
may
differ
from
the
value
ultimately
realized
upon
sale
or
maturity.
T.
ROWE
PRICE
Small-Cap
Index
Fund
66
Investment
Transactions,
Investment
Income,
and
Distributions
Investment
transactions
are
accounted
for
on
the
trade
date
basis.
Income
and
expenses
are
recorded
on
the
accrual
basis.
Realized
gains
and
losses
are
reported
on
the
identified
cost
basis. Premiums
and
discounts
on
debt
securities
are
amortized
for
financial
reporting
purposes. Income
tax-related
interest
and
penalties,
if
incurred,
are
recorded
as
income
tax
expense. Dividends
received
from other
investment
companies are
reflected
as
dividend income;
capital
gain
distributions
are
reflected
as
realized
gain/loss. Dividend
income and
capital
gain
distributions
are
recorded
on
the
ex-dividend
date. Distributions
from
REITs
are
initially
recorded
as
dividend
income
and,
to
the
extent
such
represent
a
return
of
capital
or
capital
gain
for
tax
purposes,
are
reclassified
when
such
information
becomes
available. Non-cash
dividends,
if
any,
are
recorded
at
the
fair
market
value
of
the
asset
received. Proceeds
from
litigation
payments,
if
any,
are
included
in
either
net
realized
gain
(loss)
or
change
in
net
unrealized
gain/loss
from
securities. Distributions
to
shareholders
are
recorded
on
the
ex-dividend
date. Income
distributions,
if
any,
are
declared
and
paid
by
each
class annually. A
capital
gain
distribution,
if
any, may
also
be
declared
and
paid
by
the
fund
annually.
Class
Accounting
Shareholder
servicing,
prospectus,
and
shareholder
report
expenses
incurred
by
each
class
are
charged
directly
to
the
class
to
which
they
relate.
Expenses
common
to
all
classes,
investment
income,
and
realized
and
unrealized
gains
and
losses
are
allocated
to
the
classes
based
upon
the
relative
daily
net
assets
of
each
class.
Capital
Transactions
Each
investor's
interest
in
the
net
assets
of
the
fund
is
represented
by
fund
shares.
The
fund's
net
asset
value
(NAV)
per
share
is
computed
at
the
close
of
the
New
York
Stock
Exchange
(NYSE),
normally
4
p.m.
Eastern
time,
each
day
the
NYSE
is
open
for
business.
However,
the
NAV
per
share
may
be
calculated
at
a
time
other
than
the
normal
close
of
the
NYSE
if
trading
on
the
NYSE
is
restricted,
if
the
NYSE
closes
earlier,
or
as
may
be
permitted
by
the
SEC.
Purchases
and
redemptions
of
fund
shares
are
transacted
at
the
next-computed
NAV
per
share,
after
receipt
of
the
transaction
order
by
T.
Rowe
Price
Associates,
Inc.,
or
its
agents.
Indemnification
In
the
normal
course
of
business, the
fund
may
provide
indemnification
in
connection
with
its
officers
and
directors,
service
providers,
and/or
private
company
investments. The
fund's
maximum
exposure
under
these
arrangements
is
unknown;
however,
the
risk
of
material
loss
is
currently
considered
to
be
remote.
T.
ROWE
PRICE
Small-Cap
Index
Fund
67
NOTE
2
-
VALUATION
Fair
Value
The
fund's
financial
instruments
are
valued
at
the
close
of
the
NYSE
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)
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
T.
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PRICE
Small-Cap
Index
Fund
68
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.
Investments
in
mutual
funds
are
valued
at
the
mutual
fund's
closing
NAV
per
share
on
the
day
of
valuation.
Futures
contracts
are
valued
at
closing
settlement
prices.
Assets
and
liabilities
other
than
financial
instruments,
including
short-
term
receivables
and
payables,
are
carried
at
cost,
or
estimated
realizable
value,
if
less,
which
approximates
fair
value.
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
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.
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Small-Cap
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Fund
69
Valuation
Inputs
The
following
table
summarizes
the
fund's
financial
instruments,
based
on
the
inputs
used
to
determine
their
fair
values
on
December
31,
2025
(for
further
detail
by
category,
please
refer
to
the
accompanying
Portfolio
of
Investments):
NOTE
3
-
DERIVATIVE
INSTRUMENTS
During
the
year ended
December
31,
2025,
the
fund
invested
in
derivative
instruments.
As
defined
by
GAAP,
a
derivative
is
a
financial
instrument
whose
value
is
derived
from
an
underlying
security
price,
foreign
exchange
rate,
interest
rate,
index
of
prices
or
rates,
or
other
variable;
it
requires
little
or
no
initial
investment
and
permits
or
requires
net
settlement
or
delivery
of
cash
or
other
assets.
The
fund
invests
in
derivatives
only
if
the
expected
risks
and
rewards
are
consistent
with
its
investment
objectives,
policies,
and
overall
risk
profile,
as
described
in
its
prospectus
and
Statement
of
Additional
Information.
The
fund
may
use
derivatives
for
a
variety
of
purposes
and
may
use
them
to
establish
both
long
and
short
positions
within
the
fund's
portfolio.
Potential
uses
include
to
hedge
against
declines
in
principal
value,
increase
yield,
invest
in
an
asset
with
greater
efficiency
and
at
a
lower
cost
than
is
possible
through
direct
investment,
to
enhance
return,
or
to
adjust
credit
exposure.
The
risks
associated
($000s)
Level
1
Level
2
Level
3
Total
Value
Assets
Common
Stocks
$
305,478
$
-
$
-
$
305,478
Short-Term
Investments
2,736
-
-
2,736
Securities
Lending
Collateral
19,052
-
-
19,052
Total
$
327,266
$
-
$
-
$
327,266
Liabilities
Futures
Contracts*
$
10
$
-
$
-
$
10
*
The
fair
value
presented
includes
cumulative
gain
(loss)
on
open
futures
contracts;
however,
the
net
value
reflected
on
the
accompanying
Portfolio
of
Investments
is
only
the
unsettled
variation
margin
receivable
(payable)
at
that
date.
T.
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PRICE
Small-Cap
Index
Fund
70
with
the
use
of
derivatives
are
different
from,
and
potentially
much
greater
than,
the
risks
associated
with
investing
directly
in
the
instruments
on
which
the
derivatives
are
based.
The
fund
values
its
derivatives
at
fair
value
and
recognizes
changes
in
fair
value
currently
in
its
results
of
operations.
Accordingly,
the
fund
does
not
follow
hedge
accounting,
even
for
derivatives
employed
as
economic
hedges.
Generally,
the
fund
accounts
for
its
derivatives
on
a
gross
basis.
It
does
not
offset
the
fair
value
of
derivative
liabilities
against
the
fair
value
of
derivative
assets
on
its
financial
statements,
nor
does
it
offset
the
fair
value
of
derivative
instruments
against
the
right
to
reclaim
or
obligation
to
return
collateral.
The
following
table
summarizes
the
fair
value
of
the
fund's
derivative
instruments
held
as
of
December
31,
2025,
and
the
related
location
on
the
accompanying
Statement
of
Assets
and
Liabilities,
presented
by
primary
underlying
risk
exposure:
Additionally,
the
amount
of
gains
and
losses
on
derivative
instruments
recognized
in
fund
earnings
during
the
year ended
December
31,
2025,
and
the
related
location
on
the
accompanying
Statement
of
Operations
is
summarized
in
the
following
table
by
primary
underlying
risk
exposure:
($000s)
Location
on
Statement
of
Assets
and
Liabilities
Fair
Value*
*
Liabilities
Equity
derivatives
Futures
$
10
Total
$
10
*
The
fair
value
presented
includes
cumulative
gain
(loss)
on
open
futures
contracts;
however,
the
value
reflected
on
the
accompanying
Statement
of
Assets
and
Liabilities
is
only
the
unsettled
variation
margin
receivable
(payable)
at
that
date.
($000s)
Location
of
Gain
(Loss)
on
Statement
of
Operations
Futures
Realized
Gain
(Loss)
Equity
derivatives
$
507
Total
$
507
T.
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PRICE
Small-Cap
Index
Fund
71
Counterparty
Risk
and
Collateral
The
fund
invests
in
exchange-traded
and/or
centrally
cleared
derivative
contracts,
such
as
futures,
exchange-traded
options,
and
centrally
cleared
swaps.
Counterparty
risk
on
such
derivatives
is
minimal
because
the
clearinghouse
provides
protection
against
counterparty
defaults.
For
futures
and
centrally
cleared
swaps,
the
fund
is
required
to
deposit
collateral
in
an
amount
specified
by
the
clearinghouse
and
the
clearing
firm
(margin
requirement),
and
the
margin
requirement
must
be
maintained
over
the
life
of
the
contract.
Each
clearinghouse
and
clearing
firm,
in
its
sole
discretion,
may
adjust
the
margin
requirements
applicable
to
the
fund.
Collateral may
be
in
the
form
of
cash
or
debt
securities
issued
by
the
U.S.
government
or
related
agencies.
Cash
posted
by
the
fund
is
reflected
as
cash
deposits
in
the
accompanying
financial
statements
and
generally
is
restricted
from
withdrawal
by
the
fund;
securities
posted
by
the
fund
are
so
noted
in
the
accompanying
Portfolio
of
Investments;
both
remain
in
the
fund's
assets.
While
typically
not
sold
in
the
same
manner
as
equity
or
fixed
income
securities,
exchange-traded
or
centrally
cleared
derivatives
may
be
closed
out
only
on
the
exchange
or
clearinghouse
where
the
contracts
were
cleared.
This
ability
is
subject
to
the
liquidity
of
underlying
positions. As
of
December
31,
2025,
cash
of $191,000 had
been
posted
by
the
fund
for
exchange-traded
and/or
centrally
cleared
derivatives.
Futures
Contracts
The
fund
is
subject
to equity
price
risk in
the
normal
course
of
pursuing
its
investment
objectives
and
uses
futures
contracts
to
help
manage
such
risk.
The
fund
may
enter
into
futures
contracts
as
an
efficient
means
of
maintaining
liquidity
while
being
invested
in
the
market,
to
facilitate
trading,
or
to
reduce
transaction
costs. A
futures
contract
provides
for
the
future
sale
by
one
party
and
purchase
by
another
of
a
specified
amount
of
a
specific
underlying
financial
instrument
at
an
agreed-upon
price,
date,
time,
and
place.
The
fund
currently
invests
only
in
exchange-traded
futures,
which
generally
are
standardized
as
to
maturity
date,
underlying
financial
instrument,
and
other
contract
terms.
Payments
are
made
or
received
by
the
fund
each
day
($000s)
Location
of
Gain
(Loss)
on
Statement
of
Operations
Futures
Change
in
Unrealized
Gain
(Loss)
Equity
derivatives
$
(8)
Total
$
(8)
T.
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PRICE
Small-Cap
Index
Fund
72
to
settle
daily
fluctuations
in
the
value
of
the
contract
(variation
margin),
which
reflect
changes
in
the
value
of
the
underlying
financial
instrument.
Variation
margin
is
recorded
as
unrealized
gain
or
loss
until
the
contract
is
closed.
The
value
of
a
futures
contract
included
in
net
assets
is
the
amount
of
unsettled
variation
margin;
net
variation
margin
receivable
is
reflected
as
an
asset
and
net
variation
margin
payable
is
reflected
as
a
liability
on
the
accompanying
Statement
of
Assets
and
Liabilities.
When
a
contract
is
closed,
a
realized
gain
or
loss
is
recorded
on
the
accompanying
Statement
of
Operations.
Risks
related
to
the
use
of
futures
contracts
include
possible
illiquidity
of
the
futures
markets,
contract
prices
that
can
be
highly
volatile
and
imperfectly
correlated
to
movements
in
hedged
security
values,
and
potential
losses
in
excess
of
the
fund's
initial
investment.
During
the
year ended
December
31,
2025,
the
volume
of
the
fund's
activity
in
futures,
based
on
underlying
notional
amounts,
was
generally
between
0%
and
2%
of
net
assets.
NOTE
4
-
OTHER
INVESTMENT
TRANSACTIONS
Consistent
with
its
investment
objective, the
fund
engages
in
the
following
practices
to
manage
exposure
to
certain
risks
and/or
to
enhance
performance.
The
investment
objective,
policies,
program,
and
risk
factors
of the
fund
are
described
more
fully
in the
fund's prospectus
and
Statement
of
Additional
Information.
Securities
Lending
The fund
may
lend
its
securities
to
approved
borrowers
to
earn
additional
income.
Its
securities
lending
activities
are
administered
by
a
lending
agent
in
accordance
with
a
securities
lending
agreement.
Security
loans
generally
do
not
have
stated
maturity
dates,
and
the
fund
may
recall
a
security
at
any
time.
The
fund
receives
collateral
in
the
form
of
cash
or
U.S.
government
securities.
Collateral
is
maintained
over
the
life
of
the
loan
in
an
amount
not
less
than
the
value
of
loaned
securities;
any
additional
collateral
required
due
to
changes
in
security
values
is
delivered
to
the
fund
the
next
business
day.
Cash
collateral
is
invested
in
accordance
with
investment
guidelines
approved
by
fund
management.
Additionally,
the
lending
agent
indemnifies
the
fund
against
losses
resulting
from
borrower
default.
Although
risk
is
mitigated
by
the
collateral
and
indemnification,
the
fund
could
experience
a
delay
in
recovering
its
securities
and
a
possible
loss
of
income
or
value
if
the
borrower
fails
to
return
the
securities,
collateral
investments
decline
in
value,
and
the
lending
agent
fails
to
perform.
Any
non-cash
collateral
received
cannot
be
sold,
re-invested
or
pledged
by
the
fund,
except
in
the
event
of
borrower
default. Securities
lending
revenue
consists
of
earnings
on
invested
collateral
and
borrowing
fees,
net
T.
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PRICE
Small-Cap
Index
Fund
73
of
any
rebates
to
the
borrower,
compensation
to
the
lending
agent,
and
other
administrative
costs.
In
accordance
with
GAAP,
investments
made
with
cash
collateral
are
reflected
in
the
accompanying
financial
statements,
but
collateral
received
in
the
form
of
securities
is
not.
At
December
31,
2025,
the
value
of
loaned
securities
was
$34,441,000,
including
securities
sold
but
not
yet
settled,
which
are
not
reflected
in
the
accompanying
Portfolio
of
Investments;
the
aggregate
value
of
collateral
was
$35,526,000
and
consisted
of
cash
collateral
and
related
investments
of
$19,052,000
and
U.S.
government
securities
of
$16,474,000.
Other
Purchases
and
sales
of
portfolio
securities
other
than
in-kind
transactions,
if
any, short-term
and
U.S.
government securities
aggregated $118,983,000 and
$49,293,000,
respectively,
for
the
year ended
December
31,
2025.
NOTE
5
-
FEDERAL
INCOME
TAXES
Generally,
no
provision
for
federal
income
taxes
is
required
since
the
fund
intends
to continue
to
qualify
as
a
regulated
investment
company
under
Subchapter
M
of
the
Internal
Revenue
Code
and
distribute
to
shareholders
all
of
its taxable
income
and
gains.
Distributions
determined
in
accordance
with
federal
income
tax
regulations
may
differ
in
amount
or
character
from
net
investment
income
and
realized
gains
for
financial
reporting
purposes.
The
fund
files
U.S.
federal,
state,
and
local
tax
returns
as
required.
The
fund's
tax
returns
are
subject
to
examination
by
the
relevant
tax
authorities
until
expiration
of
the
applicable
statute
of
limitations,
which
is
generally
three
years
after
the
filing
of
the
tax
return
but
which
can
be
extended
to
six
years
in
certain
circumstances.
Tax
returns
for
open
years
have
incorporated
no
uncertain
tax
positions
that
require
a
provision
for
income
taxes.
Capital
accounts
within
the
financial
reporting
records
are
adjusted
for
permanent
book/tax
differences
to
reflect
tax
character
but
are
not
adjusted
for
temporary
differences.
The
permanent
book/tax
adjustments,
if
any,
have
no
impact
on
results
of
operations
or
net
assets.
The
permanent
book/tax
adjustments
relate
primarily
to
the
character
of
income
on
passive
foreign
investment
companies.
T.
ROWE
PRICE
Small-Cap
Index
Fund
74
The
tax
character
of
distributions
paid
for
the
periods
presented
was
as
follows:
At
December
31,
2025,
the
tax-basis
cost
of
investments
(including
derivatives,
if
any)
and
gross
unrealized
appreciation
and
depreciation
were as
follows:
At
December
31,
2025,
the
tax-basis
components
of
accumulated
net
earnings
(loss)
were
as
follows:
Temporary
differences
between
book-basis
and
tax-basis
components
of
total
distributable
earnings
(loss)
arise
when
certain
items
of
income,
gain,
or
loss
are
recognized
in
different
periods
for
financial
statement
purposes
versus
for
tax
purposes;
these
differences
will
reverse
in
a
subsequent
reporting
period.
The
temporary
differences
relate
primarily
to
the
deferral
of
losses
from
wash
sales
and
the
realization
of
gains/losses
on
passive
foreign
investment
companies.
The
loss
carryforwards
and
deferrals
primarily
relate
to
post-
October
loss
deferrals.
The
fund
has
elected
to
defer
certain
losses
to
the
first
day
of
the
following
fiscal
year
for
post-October
capital
loss
deferrals.
($000s)
December
31,
2025
December
31,
2024
Ordinary
income
(including
short-term
capital
gains,
if
any)
$
4,872
$
3,561
Long-term
capital
gain
2,399
2,846
Total
distributions
$
7,271
$
6,407
($000s)
Cost
of
investments
$
290,173
Unrealized
appreciation
$
74,664
Unrealized
depreciation
(37,571)
Net
unrealized
appreciation
(depreciation)
$
37,093
($000s)
Undistributed
ordinary
income
$
330
Net
unrealized
appreciation
(depreciation)
37,093
Loss
carryforwards
and
deferrals
(99)
Total
distributable
earnings
(loss)
$
37,324
T.
ROWE
PRICE
Small-Cap
Index
Fund
75
NOTE
6
-
FOREIGN TAXES
The
fund
is
subject
to
foreign
income
taxes
imposed
by
certain
countries
in
which
it
invests.
Additionally,
capital
gains
realized
upon
disposition
of
securities
issued
in
or
by
certain
foreign
countries
are
subject
to
capital
gains
tax
imposed
by
those
countries.
All
taxes
are
computed
in
accordance
with
the
applicable
foreign
tax
law,
and,
to
the
extent
permitted,
capital
losses
are
used
to
offset
capital
gains.
Taxes
attributable
to
income
are
accrued
by
the
fund
as
a
reduction
of
income.
Current
and
deferred
tax
expense
attributable
to
capital
gains
is
reflected
as
a
component
of
realized
or
change
in
unrealized
gain/
loss
on
securities
in
the
accompanying
financial
statements.
To
the
extent
that
the
fund
has
country
specific
capital
loss
carryforwards,
such
carryforwards
are
applied
against
net
unrealized
gains
when
determining
the
deferred
tax
liability.
Any
deferred
tax
liability
incurred
by
the
fund
is
included
in
either
Other
liabilities
or
Deferred
tax
liability
on
the
accompanying
Statement
of
Assets
and
Liabilities.
NOTE
7
-
RELATED
PARTY
TRANSACTIONS
The
fund
is
managed
by
T.
Rowe
Price
Associates,
Inc.
(Price
Associates),
a
wholly
owned
subsidiary
of
T.
Rowe
Price
Group,
Inc.
(Price
Group). Price
Associates
has
entered
into
a
sub-advisory
agreement(s)
with
one
or
more
of
its
wholly
owned
subsidiaries,
to
provide
investment
advisory
services
to
the
fund. The
investment
management
agreement
between
the
fund
and
Price
Associates
provides
for
an
annual
investment
management
fee
equal
to 0.09%
of
the
fund's
average
daily
net
assets.
The
fee
is
computed
daily
and
paid
monthly.
The
Investor
Class
is
subject
to
a
contractual
expense
limitation
through
the
expense
limitation
date
indicated
in
the
table
below.
This
agreement
will
continue
through
the
expense
limitation
date
indicated
in
the
table
below,
and
may
be
renewed,
revised,
or
revoked
only
with
approval
of
the
fund's
Board.
During
the
limitation
period,
Price
Associates
is required
to
waive
or
pay
any
expenses
(excluding
interest;
expenses
related
to
borrowings,
taxes,
and
brokerage;
non-recurring,
extraordinary
expenses;
and
acquired
fund
fees
and
expenses)
that
would
otherwise
cause
the class's ratio
of
annualized
total
expenses
to
average
net
assets
(net
expense
ratio)
to
exceed
its
expense
limitation.
The
class
is
required
to
repay
Price
Associates
for
expenses
previously
waived/paid
to
the
extent
the
class's net
assets
grow
or
expenses
decline
sufficiently
to
allow
repayment
without
causing
the class's net
expense
T.
ROWE
PRICE
Small-Cap
Index
Fund
76
ratio
(after
the
repayment
is
taken
into
account)
to
exceed
the
lesser
of:
(1)
the
expense
limitation
in
place
at
the
time
such
amounts
were
waived;
or
(2)
the class's
current
expense
limitation.
However,
no
repayment
will
be
made
more
than
three
years
after
the
date
of
a
payment
or
waiver.
The
I
Class
is
also
subject
to
an
operating
expense
limitation
(I
Class
Limit)
pursuant
to
which
Price
Associates
is
contractually
required
to
pay
all
operating
expenses
of
the
I
Class,
excluding
management
fees;
interest;
expenses
related
to
borrowings,
taxes,
and
brokerage; non-recurring,
extraordinary expenses; and
acquired
fund
fees
and
expenses, to
the
extent
such
operating
expenses,
on
an
annualized
basis,
exceed
the
I
Class
Limit. This
agreement
will
continue
through
the
expense
limitation
date
indicated
in
the
table
below,
and
may
be
renewed,
revised,
or
revoked
only
with
approval
of
the
fund's
Board.
The
I
Class
is
required
to
repay
Price
Associates
for
expenses
previously
paid
to
the
extent
the
class's
net
assets
grow
or
expenses
decline
sufficiently
to
allow
repayment
without
causing
the
class's
operating
expenses
(after
the
repayment
is
taken
into
account)
to
exceed
the
lesser
of:
(1)
the
I
Class
Limit
in
place
at
the
time
such
amounts
were
paid;
or
(2)
the
current
I
Class
Limit.
However,
no
repayment
will
be
made
more
than
three
years
after
the
date
of
a
payment
or
waiver.
The
Z
Class
is
also
subject
to
a
contractual
expense
limitation
agreement
whereby
Price
Associates
has
agreed
to
waive
and/or
bear
all
of
the
Z
Class'
expenses
(excluding
interest;
expenses
related
to
borrowings,
taxes,
and
brokerage;
non-recurring,
extraordinary
expenses;
and
acquired
fund
fees
and
expenses)
in
their
entirety.
This
fee
waiver
and/or
expense
reimbursement
arrangement
is
expected
to
remain
in
place
indefinitely,
and
the
agreement
may
only
be
amended
or
terminated
with
approval
by
the
fund's
Board.
Expenses
of
the
fund
waived/paid
by
the
manager
are
not
subject
to
later
repayment
by
the
fund.
Pursuant
to
these
agreements,
expenses
were waived/paid
by
and/or
repaid
to
Price
Associates
during
the year
ended December
31,
2025 as
indicated
in
the
table
below.
Including
these
amounts,
expenses
previously
waived/paid
by
Price
Associates
in
the
amount
of $597,000 remain
subject
to
repayment
by
the
fund
at
December
31,
2025. Any
repayment
of
expenses
previously
waived/paid
by
Price
Associates
during
the
period
would
be
included
in
the
net
investment
income
and
expense
ratios
presented
on
the
accompanying
Financial
Highlights.
T.
ROWE
PRICE
Small-Cap
Index
Fund
77
In
addition,
the
fund
has
entered
into
service
agreements
with
Price
Associates
and
a
wholly
owned
subsidiary
of
Price
Associates,
each
an
affiliate
of
the
fund
(collectively,
Price).
Price
Associates
provides
certain
accounting
and
administrative
services
to
the
fund.
T.
Rowe
Price
Services,
Inc.
provides
shareholder
and
administrative
services
in
its
capacity
as
the
fund's
transfer
and
dividend-disbursing
agent.
For
the
year
ended
December
31,
2025,
expenses
incurred
pursuant
to
these
service
agreements
were
$124,000
for
Price
Associates
and
less
than
$1,000
for
T.
Rowe
Price
Services,
Inc.
All
amounts
due
to
and
due
from
Price,
exclusive
of
investment
management
fees
payable,
are
presented
net
on
the
accompanying
Statement
of
Assets
and
Liabilities.
T.
Rowe
Price
Investment
Services,
Inc.
(Investment
Services)
serves
as
distributor
to
the
fund.
Pursuant
to
an
underwriting
agreement,
no
compensation
for
any
distribution
services
provided
is
paid
to
Investment
Services
by
the
fund
(except
for
12b-1
fees
under
a
Board-approved
Rule
12b-1
plan).
Additionally,
the
fund
is
one
of
several
mutual
funds
in
which
certain
college
savings
plans
managed
by
Price
Associates invests.
As
approved
by
the
fund's
Board
of
Directors,
shareholder
servicing
costs
associated
with
each
college
savings
plan
are
borne
by
the
fund
in
proportion
to
the
average
daily
value
of
its
shares
owned
by
the
college
savings
plan.
Price
has
agreed
to waive/reimburse
shareholder
servicing
costs in
excess
of
0.05%
of
the
fund's
average
daily
value
of
its
shares
owned
by
the
college
savings
plan.
Any
amounts
waived/
paid
by
Price
under
this
voluntary
agreement
are
not
subject
to
repayment
by
the
fund.
Price
may
amend
or
terminate
this
voluntary
arrangement
at
any
time
without
prior
notice.
For
the
year ended
December
31,
2025,
the
fund
was
charged $51,000 for
shareholder
servicing
costs
related
to
the
college
savings
plans, of
which
$8,000
was
for
services
provided
by
Price.
All
amounts
due
to
and
due
from
Price,
exclusive
of
investment
management
fees
payable,
are
presented
net
on
the
accompanying
Statement
of
Assets
and
Liabilities. At
December
31,
2025,
approximately
93%
of
the
outstanding
shares
of
the
I
Class
were
held
by
college
savings
plans.
Investor
Class
I
Class
Z
Class
Expense
limitation/I
Class
Limit
0.29%
0.05%
0.00%
Expense
limitation
date
02/29/28
02/29/28
N/A
(Waived)/repaid
during
the
period
($000s)
$(1)
$(168)
$(246)
T.
ROWE
PRICE
Small-Cap
Index
Fund
78
Mutual
funds,
trusts,
and
other
accounts
managed
by
Price
Associates
or
its
affiliates
(collectively,
Price
Funds
and
accounts)
may
invest
in
the
fund.
No
Price
fund
or
account
may
invest
for
the
purpose
of
exercising
management
or
control
over
the
fund.
At
December
31,
2025, 100%
of
the
Z
Class's
outstanding
shares
were
held
by
Price
Funds
and
accounts.
The fund
may
invest
its
cash
reserves
in
certain
open-end
management
investment
companies
managed
by
Price
Associates
and
considered
affiliates
of
the
fund:
the
T.
Rowe
Price
Government
Reserve
Fund
or
the
T.
Rowe
Price
Treasury
Reserve
Fund,
organized
as
money
market
funds
(together,
the
Price
Reserve
Funds).
The
Price
Reserve
Funds
are
offered
as
short-term
investment
options
to
mutual
funds,
trusts,
and
other
accounts
managed
by
Price
Associates
or
its
affiliates
and
are
not
available
for
direct
purchase
by
members
of
the
public.
Effective
November
12,
2025, cash
collateral
from
securities
lending,
if
any,
is
invested
in
the
T.
Rowe
Price
Treasury Reserve Fund.
Prior
to
November
12,
2025,
cash
collateral
from
securities
lending,
if
any,
was
invested
in
the
T.
Rowe
Price
Government
Reserve
Fund. The
Price
Reserve
Funds
pay
no
investment
management
fees.
As
of
December
31,
2025,
T.
Rowe
Price
Group,
Inc.,
or
its
wholly
owned
subsidiaries,
owned
6,307
shares
of
the
Investor
Class,
representing
100%
of
the
Investor
Class's
net
assets.
The fund may
participate
in
securities
purchase
and
sale
transactions
with
other
funds
or
accounts
advised
by
Price
Associates
(cross
trades),
in
accordance
with
procedures
adopted
by the
fund's
Board
and
Securities
and
Exchange
Commission
rules,
which
require,
among
other
things,
that
such
purchase
and
sale
cross
trades
be
effected
at
the
independent
current
market
price
of
the
security.
During
the
year
ended
December
31,
2025,
the
fund
had
no
purchases
or
sales
cross
trades
with
other
funds
or
accounts
advised
by
Price
Associates.
NOTE
8
-
SEGMENT
REPORTING
Operating segments
are
defined
as
components
of
a
company
that
engage
in
business
activities
and
for
which
discrete
financial
information
is
available
and
regularly
reviewed
by
the
chief
operating
decision
maker
(CODM)
in
deciding
how
to
allocate
resources
and
assess
performance.
The
Management
Committee
of
Price
Associates
acts
as
the
fund's
CODM.
The
fund
makes
investments
in
accordance
with
its
investment
objective
as
outlined
in
the
T.
ROWE
PRICE
Small-Cap
Index
Fund
79
Prospectus
and
is
considered
one
reportable
segment
because
the
CODM
allocates
resources
and
assesses
the
operating
results
of
the
fund
on
the
whole.
The
fund's
revenue
is
derived
from
investments
in
a
portfolio
of
securities.
The
CODM
allocates
resources
and
assesses
performance
based
on
the
operating
results
of
the
fund,
which
is
consistent
with
the
results
presented
in
the
statement
of
operations,
statement
of
changes
in
net
assets
and
financial
highlights.
The
CODM
compares
the
fund's
performance
to
its
benchmark
index
and
evaluates
the
positioning
of
the
fund
in
relation
to
its
investment
objective.
The
measure
of
segment
assets
is
net
assets
of
the
fund
which
is
disclosed
in
the
statement
of
assets
and
liabilities.
The accounting
policies
of
the
segment
are
the
same
as
those
described
in
the
summary
of
significant
accounting
policies.
The
financial
statements
include
all
details
of
the
segment
assets,
segment
revenue
and
expenses;
and
reflect
the
financial
results
of
the
segment.
NOTE
9
-
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.
T.
ROWE
PRICE
Small-Cap
Index
Fund
80
REPORT
OF
INDEPENDENT
REGISTERED
PUBLIC
ACCOUNTING
FIRM
To
the
Board
of
Directors
of
T.
Rowe
Price
Index
Trust,
Inc.
and
Shareholders
of
T.
Rowe
Price
Small-Cap
Index
Fund
Opinion
on
the
Financial
Statements
We
have
audited
the
accompanying
statement
of
assets
and
liabilities,
including
the
portfolio
of
investments,
of
T.
Rowe
Price
Small-Cap
Index
Fund
(one
of
the
funds
constituting
T.
Rowe
Price
Index
Trust,
Inc.,
referred
to
hereafter
as
the
"Fund")
as
of
December
31,
2025,
the
related
statement
of
operations
for
the
year
ended
December
31,
2025,
the
statement
of
changes
in
net
assets
for
each
of
the
two
years
in
the
period
ended
December
31,
2025,
including
the
related
notes,
and
the
financial
highlights
for
each
of
the
five
years
in
the
period
ended
December
31,
2025
(collectively
referred
to
as
the
"financial
statements").
In
our
opinion,
the
financial
statements
present
fairly,
in
all
material
respects,
the
financial
position
of
the
Fund
as
of
December
31,
2025,
the
results
of
its
operations
for
the
year
then
ended,
the
changes
in
its
net
assets
for
each
of
the
two
years
in
the
period
ended
December
31,
2025
and
the
financial
highlights
for
each
of
the
five
years
in
the
period
ended
December
31,
2025
in
conformity
with
accounting
principles
generally
accepted
in
the
United
States
of
America.
Basis
for
Opinion
These
financial
statements
are
the
responsibility
of
the
Fund's
management.
Our
responsibility
is
to
express
an
opinion
on
the
Fund's
financial
statements
based
on
our
audits.
We
are
a
public
accounting
firm
registered
with
the
Public
Company
Accounting
Oversight
Board
(United
States)
(PCAOB)
and
are
required
to
be
independent
with
respect
to
the
Fund
in
accordance
with
the
U.S.
federal
securities
laws
and
the
applicable
rules
and
regulations
of
the
Securities
and
Exchange
Commission
and
the
PCAOB.
We
conducted
our
audits
of
these
financial
statements
in
accordance
with
the
standards
of
the
PCAOB.
Those
standards
require
that
we
plan
and
perform
the
audit
to
obtain
reasonable
assurance
about
whether
the
financial
statements
are
free
of
material
misstatement,
whether
due
to
error
or
fraud.
T.
ROWE
PRICE
Small-Cap
Index
Fund
81
Our
audits
included
performing
procedures
to
assess
the
risks
of
material
misstatement
of
the
financial
statements,
whether
due
to
error
or
fraud,
and
performing
procedures
that
respond
to
those
risks.
Such
procedures
included
examining,
on
a
test
basis,
evidence
regarding
the
amounts
and
disclosures
in
the
financial
statements.
Our
audits
also
included
evaluating
the
accounting
principles
used
and
significant
estimates
made
by
management,
as
well
as
evaluating
the
overall
presentation
of
the
financial
statements.
Our
procedures
included
confirmation
of
securities
owned
as
of
December
31,
2025
by
correspondence
with
the
custodian,
transfer
agent
and
brokers;
when
replies
were
not
received
from
brokers,
we
performed
other
auditing
procedures.
We
believe
that
our
audits
provide
a
reasonable
basis
for
our
opinion.
/s/
PricewaterhouseCoopers
LLP
Baltimore,
Maryland
February
20,
2026
We
have
served
as
the
auditor
of
one
or
more
investment
companies
in
the
T.
Rowe
Price
group
of
investment
companies
since
1973.
REPORT
OF
INDEPENDENT
REGISTERED
PUBLIC
ACCOUNTING
FIRM
(continued)
T.
ROWE
PRICE
Small-Cap
Index
Fund
82
TAX
INFORMATION
(UNAUDITED)
FOR
THE
TAX
YEAR
ENDED 12/31/25
We
are
providing
this
information
as
required
by
the
Internal
Revenue
Code.
The
amounts
shown
may
differ
from
those
elsewhere
in
this
report
because
of
differences
between
tax
and
financial
reporting
requirements.
The
fund's
distributions
to
shareholders
included:
$2,399,000
from
long-term
capital
gains,
subject
to
a
long-term
capital
gains
tax
rate
of
not
greater
than
20%
For
nonresident
alien
shareholders,
100%
of
short-term
capital
gain
dividends
distributed
by
the
fund
for
the
fiscal
year
are
qualified
short-term
capital
gains.
For
taxable
non-corporate
shareholders,
$2,273,000
of
the
fund's
income
represents
qualified
dividend
income
subject
to
a
long-term
capital
gains
tax
rate
of
not
greater
than
20%.
For
corporate
shareholders,
$2,019,000
of
the
fund's
income
qualifies
for
the
dividends-received
deduction.
For
individuals
and
certain
trusts
and
estates
which
are
entitled
to
claim
a
deduction
of
up
to
20%
of
their
combined
qualified
real
estate
investment
trust
(REIT)
dividends,
$331,000
of
the
fund's
income
qualifies
as
qualified
real
estate
investment
trust
(REIT)
dividends.
1307
Point
Street
Baltimore,
Maryland
21231
T.
Rowe
Price
Investment
Services,
Inc.
Call
1-800-638-5660
to
request
a
prospectus
or
summary
prospectus;
each
includes
investment
objectives,
risks,
fees,
expenses,
and
other
information
that
you
should
read
and
consider
carefully
before
investing.
F33-050
2/26
Item 8. Changes in and Disagreements with Accountants for Open-EndManagement Investment Companies.
Not applicable.
Item 9. Proxy Disclosures for Open-EndManagement Investment Companies.
Not applicable.
Item 10. Remuneration Paid to Directors, Officers, and Others of Open-EndManagement Investment Companies.
Remuneration paid to Directors is included in Item 7 of this Form N-CSR.
Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract.
If applicable, see Item 7.
Item 12. Disclosure of Proxy Voting Policies and Procedures for Closed-EndManagement Investment Companies.
Not applicable.
Item 13. Portfolio Managers of Closed-EndManagement Investment Companies.
Not applicable.
Item 14. Purchases of Equity Securities by Closed-EndManagement Investment Company and Affiliated Purchasers.
Not applicable.
Item 15. Submission of Matters to a Vote of Security Holders.
There has been no change to the procedures by which shareholders may recommend nominees to the registrant's board of directors.
Item 16. Controls and Procedures.
(a) The registrant's principal executive officer and principal financial officer have evaluated the registrant's disclosure controls and procedures within 90 days of this filing and have concluded that the registrant's disclosure controls and procedures were effective, as of that date, in ensuring that information required to be disclosed by the registrant in this Form N-CSRwas recorded, processed, summarized, and reported timely.
(b) The registrant's principal executive officer and principal financial officer are aware of no change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.
Item 17. Disclosure of Securities Lending Activities for Closed-EndManagement Investment Companies.
Not applicable.
Item 18. Recovery of Erroneously Awarded Compensation.
Not applicable.
Item 19. Exhibits.
| (a)(1) |
N-CSR |
|
| (2) |
Listing standards relating to recovery of erroneously awarded compensation: not applicable. |
|
| (3) |
30a-2(a) |
|
| (b) |
30a-2(b) |
|
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| T. Rowe Price Index Trust, Inc. | ||||
| By |
/s/ David Oestreicher |
|||
| David Oestreicher | ||||
| Principal Executive Officer | ||||
| Date | February 20, 2026 | |||
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
| By |
/s/ David Oestreicher |
|||
| David Oestreicher | ||||
| Principal Executive Officer | ||||
| Date |
February 20, 2026 |
|||
| By |
/s/ Alan S. Dupski |
|||
| Alan S. Dupski | ||||
| Principal Financial Officer | ||||
| Date |
February 20, 2026 |
|||
T. Rowe Price Index Trust Inc. published this content on February 25, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on February 25, 2026 at 14:11 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]