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| SUMMARYPROSPECTUS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
| PRGFX                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                          |   |
| May 1,2014                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |   |
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| T. Rowe Price

GrowthStock Fund                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| A fund seeking long-term capital growththrough investments in stocks of a diversified group of larger growth companies.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |
| Before you invest, you may want to review the fund’s prospectus,which contains more information about the fund and its risks. You can find the fund’s prospectusand other information about the fund online at troweprice.com/prospectus. You can also get this information at no cost by calling1-800-225-5132or by sending an e-mail request to info@troweprice.com. This Summary Prospectus incorporates by reference the fund’sprospectus, dated May 1, 2014, and Statement of Additional Information, dated May 1, 2014.

The Securities and Exchange Commission has not approved or disapproved these securitiesor passed upon the adequacy of this prospectus. Any representation to the contrary is a criminal offense. |
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| Summary | 1      |

Investment Objective

The fund seeks long-term capital growth through investments in stocks.

Feesand Expenses

This table describes the fees and expenses that you may pay if you buy and hold sharesof the fund. 

Fees and Expenses of the Fund

|                                                                                                          |   |
|---------------------------------------------------------------------------------------------------------------|--------|
| Shareholder fees (fees paid directly from your investment)                                                    |
| Maximum sales charge (load) imposed on purchases                                                              | NONE   |
|                                                                                                          |   |
| Maximum deferred sales charge (load)                                                                          | NONE   |
|                                                                                                          |   |
| Redemption fee                                                                                                | NONE   |
|                                                                                                          |   |
| Maximum account fee                                                                                           | $20a   |
| Annual fund operating expenses(expenses that you pay each yearas apercentage of the value of your investment) |
| Management fees                                                                                               | 0.52%  |
|                                                                                                          |   |
| Distribution and service (12b-1) fees                                                                         | 0.00%  |
|                                                                                                          |   |
| Other expenses                                                                                                | 0.17%  |
|                                                                                                          |   |
| Total annualfund operating expenses                                                                           | 0.69%  |

a Subjectto certain exceptions, accounts with a balance of less than $10,000 are charged an annual $20 fee.

Example  This example is intendedto help you compare the cost of investing in the fund with the cost of investing in other mutual funds.The example assumes that you invest $10,000 in the fund for the time periods indicated and then redeemall of your shares at the end of those periods. The example also assumes that your investment has a 5%return each year and that the fund’s operating expenses remain the same. Although your actual costsmay be higher or lower, based on these assumptions your costs would be:

|   |    |    |     |
|--------|---------|---------|----------|
| 1 year | 3 years | 5 years | 10 years |
| $70    | $221    | $384    | $859     |

Portfolio Turnover  The fundpays transaction costs, such as commissions, when it buys and sells securities (or “turns over”its portfolio). A higher portfolio turnover rate may indicate higher transaction costs and may resultin higher taxes when fund shares are held in a taxable account. These costs, which are not reflectedin annual fund operating expenses or in the example, affect the fund’s performance. During the mostrecent fiscal year, the fund’s portfolio turnover rate was 34.7% of the average value of its portfolio.

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| T.Rowe Price | 2      |

Investments, Risks, and Performance

Principal Investment Strategies  The fund will normally investat least 80% of its net assets (including any borrowings for investment purposes) in the common stocksof a diversified group of growth companies. The fund generally seeks investments in stocks of large-capitalizationcompanies with one or more of the following characteristics: strong cash flow and an above-average rateof earnings growth; the ability to sustain earnings momentum during economic downturns; and occupationof a lucrative niche in the economy and the ability to expand even during times of slow economic growth.As growth investors, we believe that when a company increases its earnings faster than both inflationand the overall growth rate of the economy, the market will eventually reward it with a higher stockprice.

Inpursuing its investment objective, the fund has the discretion to deviate from its normal investmentcriteria, as previously described, and purchase securities that the fund’s management believes willprovide an opportunity for substantial appreciation. These situations might arise when the fund’smanagement believes a security could increase in value for a variety of reasons, including an extraordinarycorporate event, a new product introduction or innovation, a favorable competitive development, or achange in management.

While most assets will typically be invested in U.S. common stocks, the fund may investin foreign stocks in keeping with the fund’s objectives.

The fund may sell securities for a variety ofreasons, such as to secure gains, limit losses, or redeploy assets into more promising opportunities.

Principal Risks  As with anymutual fund, there is no guarantee that the fund will achieve its objective. The fund’s share pricefluctuates, which means you could lose money by investing in the fund. The principal risks of investingin this fund are summarized as follows:

Activemanagement riskThefund is subject to the risk that the investment adviser’s judgments about the attractiveness, value,or potential appreciation of the fund’s investments may prove to be incorrect. If the securitiesselected and strategies employed by the fund fail to produce the intended results, the fund could underperformother funds with similar objectives and investment strategies.

Risks of stock investing  Stocks generally fluctuate in value more than bondsand may decline significantly over short time periods. There is a chance that stock prices overall willdecline because stock markets tend to move in cycles, with periods of rising prices and falling prices.The value of a stock in which the fund invests may decline due to general weakness in the stock marketor because of factors that affect a company or a particular industry. 

Investment style risk  Different investment styles tend toshift in and out of favor, depending on market conditions and investor sentiment. The fund’s growthapproach to investing could cause it to underperform other stock funds that employ 

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| Summary | 3      |

adifferent investment style. Growth stocks tend to be more volatile than certain other types of stocksand their prices usually fluctuate more dramatically than the overall stock market. A stock with growthcharacteristics can have sharp price declines due to decreases in current or expected earnings and maylack dividends that can help cushion its share price in a declining market.

Market capitalization risk  Although stocks issued by largercompanies tend to have less overall volatility than stocks issued by smaller companies, larger companiesmay not be able to attain the high growth rates of successful smaller companies, especially during strongeconomic periods. In addition, larger companies may be less capable of responding quickly to competitivechallenges and industry changes, and may suffer sharper price declines as a result of earnings disappointments.

Foreign investing risk  This isthe risk that the fund’s investments in foreign securities may be adversely affected by political,social, and economic conditions overseas, reduced liquidity, or decreases in foreign currency valuesrelative to the U.S. dollar.

Performance The bar chart showing calendar year returns and the average annual total returns table indicate riskby illustrating how much returns can differ from one year to the next and how fund performance compareswith that of a comparable market index. The fund’s past performance (before and after taxes) isnot necessarily an indication of future performance.

The fund can also experience short-term performanceswings, as shown by the best and worst calendar quarter returns during the years depicted.

Inaddition, the average annual total returns table shows hypothetical after-tax returns to suggest howtaxes paid by a shareholder may influence returns. After-tax returns are calculated using the historicalhighest individual federal marginal income 

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| T.Rowe Price | 4      |

tax rates and do not reflect the impact of state and local taxes.Actual after-tax returns depend on an investor’s tax situation and may differ from those shown.After-tax returns shown are not relevant to investors who hold their fund shares through tax-deferredarrangements, such as a 401(k) account or individual retirement account.

|                        |                                                                  |                                 |              |   |        |          |       |       |           |   |   |   |
|-----------------------------|-----------------------------------------------------------------------|--------------------------------------|-------------------|--------|-------------|---------------|------------|------------|----------------|--------|--------|--------|
| AverageAnnual Total Returns |                                                                  |                                 |              |   |        |          |       |       |           |   |
|                        |                                                                  |                                 | Periodsended      |   |
|                        |                                                                  |                                 | December 31, 2013 |   |
|                        |                                                                  |                                 | 1 Year       |   |        | 5 Years  |       |       | 10 Years  |   |   |   |
|                        | Growth Stock Fund                                                     |                                 |              |   |        |          |       |       |           |   |   |
|                        |                                                                  | Returns before taxes                 | 39.20        | %      | 22.39  | %             | 8.89  | %          |           |
|                        |                                                                  | Returns after taxes on distributions | 39.19        |   |        | 22.37    |       |       | 8.76      |   |   |   |
|                        |                                                                  | Returns after taxes on distributions |              |   |        |          |       |       |           |   |   |   |
|                        |                                                                  | and sale of fund shares              | 22.20        |   |        | 18.44    |       |       | 7.31      |   |   |   |
|                        | S&P 500 Index (reflectsno deduction for fees, expenses, or taxes) | 32.39                           |              |   | 17.94  |          |       | 7.41  |           |   |   |
|                        | LipperLarge-Cap Growth Funds Index                                    | 35.41                           |              |   | 19.43  |          |       | 7.08  |           |   |   |

Updated performance information is available through troweprice.com or may be obtainedby calling 1-800-225-5132.

Management

Investment Adviser  T. Rowe Price Associates, Inc. (T. Rowe Price)

|              |                                        |               |                      |
|-------------------|---------------------------------------------|--------------------|---------------------------|
| Portfolio Manager | Title                                       | Managed Fund Since | Joined Investment Adviser |
| JosephB. Fath     | Chairman of Investment

 Advisory Committee | 2014               | 2002                      |

Purchaseand Sale of Fund Shares

The fund’s investment minimums generally are as follows (if you hold shares througha financial intermediary, the intermediary may impose different investment minimums):

|                                                                                                                                               |                     |                       |
|----------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------|----------------------------|
| Type of Account                                                                                                                                    | Minimum initial purchase | Minimum subsequentpurchase |
| Individualretirement accounts, small business retirement plan accounts, and Uniform Gifts to Minors Act or UniformTransfers to Minors Act accounts | $1,000                   | $100                       |
|                                                                                                                                               |                     |                       |
| All other accounts                                                                                                                                 |   2,500        |    100      |

Youmay purchase, redeem, or exchange shares of the fund on any day the New York Stock Exchange is open forbusiness by accessing your account online at troweprice.com, by calling 1-800-225-5132, or by writtenrequest. If you hold shares 

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| Summary | 5      |

througha financial intermediary, you must purchase, redeem, and exchange shares through your intermediary.

TaxInformation

Any dividends or capital gains are declared and paid annually, usually in December.Distributions by the fund, whether or not you reinvest these amounts in additional fund shares, may betaxed as ordinary income or capital gains unless you invest through a tax-deferred account. A redemptionor exchange of fund shares may be taxable. 

Payments to Broker-Dealers and Other FinancialIntermediaries

If you purchase shares of the fund through a broker-dealer or other financial intermediary(such as a bank), the fund and its related companies may pay the intermediary for the sale of fund sharesand related services. These payments may create a conflict of interest by influencing the broker-dealeror other intermediary and your salesperson to recommend the fund over another investment. Ask your salespersonor visit your financial intermediary’s website for more information.

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| T. Rowe PriceAssociates, Inc.100 East Pratt StreetBaltimore, MD 21202 | F40-045 5/1/14 |