|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |   |
| SUMMARYPROSPECTUS                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            |   |
| RRGSX                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        |   |
| May 1,2014                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |   |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |   |
| T. Rowe Price

GrowthStock Fund–R Class                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| A fund seeking long-termcapital growth through investments in stocks of a diversified group of larger growth companies. Thisclass of shares is sold only through financial intermediaries.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| Beforeyou invest, you may want to review the fund’s prospectus, which contains more information aboutthe fund and its risks. You can find the fund’s prospectus and other information about the fundonline at troweprice.com/prospectus.You can also get this information at no cost by calling 1-800-638-8790 or by sending an e-mail request to info@troweprice.com. This SummaryProspectus incorporates by reference the fund’s prospectus, dated May 1, 2014, and Statement ofAdditional Information, dated May 1, 2014.

The Securities and ExchangeCommission has not approved or disapproved these securities or passed upon the adequacy of this prospectus.Any representation to the contrary is a criminal offense. |
|                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |

|    |   |
|---------|--------|
| 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’s R Class

|                                                                                                          |   |
|---------------------------------------------------------------------------------------------------------------|--------|
| Annual fund operating expenses(expensesthat you pay each year as apercentage of the value of your investment) |
| Managementfees                                                                                                | 0.52%  |
|                                                                                                          |   |
| Distribution and service (12b-1) fees                                                                         | 0.50%  |
|                                                                                                          |   |
| Other expenses                                                                                                | 0.17%  |
|                                                                                                          |   |
| Total annual fund operating expenses                                                                          | 1.19%  |

Example  This example is intended to help you compare the cost of investingin the fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000in the fund for the time periods indicated and then redeem all 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 operatingexpenses remain the same. Although your actual costs may be higher or lower, based on these assumptionsyour costs would be:

|   |   |   |     |
|--------|--------|--------|----------|
| 1 year | 3years | 5years | 10 years |
| $121   | $378   | $654   | $1,443   |

PortfolioTurnover  The fund pays transaction costs, such as commissions, when it buys and sells securities(or “turns over” its portfolio). A higher portfolio turnover rate may indicate higher transactioncosts and may result in higher taxes when fund shares are held in a taxable account. These costs, whichare not reflected in annual fund operating expenses or in the example, affect the fund’s performance.During the most recent fiscal year, the fund’s portfolio turnover rate was 34.7% of the averagevalue of its portfolio.

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 

|         |   |
|--------------|--------|
| T.Rowe Price | 2      |

increases its earnings faster than both inflation and the overallgrowth rate of the economy, the market will eventually reward it with a higher stock price.

In pursuing its investmentobjective, the fund has the discretion to deviate from its normal investment criteria, as previouslydescribed, and purchase securities that the fund’s management believes will provide an opportunityfor substantial appreciation. These situations might arise when the fund’s management believes asecurity could increase in value for a variety of reasons, including an extraordinary corporate event,a new product introduction or innovation, a favorable competitive development, or a change in management.

Whilemost assets will typically be invested in U.S. common stocks, the fund may invest in foreign stocks inkeeping with the fund’s objectives.

The fund may sell securities for a variety of reasons, such as tosecure gains, limit losses, or redeploy assets into more promising opportunities.

Principal Risks  As with any mutual fund, there is no guaranteethat the fund will achieve its objective. The fund’s share price fluctuates, which means you couldlose money by investing in the fund. The principal risks of investing in this fund are summarized asfollows:

Active management riskThe fund is subject to the risk that the investment adviser’sjudgments about the attractiveness, value, or potential appreciation of the fund’s investments mayprove to be incorrect. If the securities selected and strategies employed by the fund fail to producethe intended results, the fund could underperform other funds with similar objectives and investmentstrategies.

Risks of stockinvesting  Stocks generally fluctuate in value more than bonds and may decline significantly overshort time periods. There is a chance that stock prices overall will decline because stock markets tendto move in cycles, with periods of rising prices and falling prices. The value of a stock in which thefund invests may decline due to general weakness in the stock market or because of factors that affecta company or a particular industry. 

Investmentstyle risk  Different investment styles tend to shift in and out of favor, depending on marketconditions and investor sentiment. The fund’s growth approach to investing could cause it to underperformother stock funds that employ a different investment style. Growth stocks tend to be more volatile thancertain other types of stocks and their prices usually fluctuate more dramatically than the overall stockmarket. A stock with growth characteristics can have sharp price declines due to decreases in currentor expected earnings and may lack dividends that can help cushion its share price in a declining market.

Market capitalization risk  Althoughstocks issued by larger companies tend to have less overall volatility than stocks issued by smallercompanies, larger companies may not be able to attain the high growth rates of successful smaller companies,especially during strong economic periods. In addition, larger companies may be less capable of 

|    |   |
|---------|--------|
| Summary | 3      |

respondingquickly to competitive challenges and industry changes, and may suffer sharper price declines as a resultof earnings disappointments. 

Foreign investingrisk  This is the risk that the fund’s investments in foreign securities may be adverselyaffected by political, social, and economic conditions overseas, reduced liquidity, or decreases in foreigncurrency values relative 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 tax rates and do not reflect the impact of state and localtaxes. Actual after-tax returns depend on an investor’s tax situation and may differ from thoseshown. 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.

|         |   |
|--------------|--------|
| T.Rowe Price | 4      |

|                        |                                                                  |                                 |              |   |        |          |       |       |           |   |   |   |
|-----------------------------|-----------------------------------------------------------------------|--------------------------------------|-------------------|--------|-------------|---------------|------------|------------|----------------|--------|--------|--------|
| AverageAnnual Total Returns |                                                                  |                                 |              |   |        |          |       |       |           |   |
|                        |                                                                  |                                 | Periods ended     |   |
|                        |                                                                  |                                 | December 31, 2013 |   |
|                        |                                                                  |                                 | 1 Year       |   |        | 5 Years  |       |       | 10 Years  |   |   |   |
|                        | Growth Stock Fund-R Class                                             |                                 |              |   |        |          |       |       |           |   |   |
|                        |                                                                  | Returns before taxes                 | 38.50        | %      | 21.79  | %             | 8.37  | %          |           |
|                        |                                                                  | Returns after taxes on distributions | 38.50        |   |        | 21.79    |       |       | 8.28      |   |   |   |
|                        |                                                                  | Returns after taxes on distributions |              |   |        |          |       |       |           |   |   |   |
|                        |                                                                  | and sale of fund shares              | 21.79        |   |        | 17.92    |       |       | 6.86      |   |   |   |
|                        | 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 1-800-638-8790.

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

Generally, the fund’s minimum initial investment requirement is $2,500 and thefund’s minimum subsequent investment requirement is $100. However, your financial intermediary mayimpose different investment minimums.

You may purchase, redeem, or exchange shares of the fund on anyday the New York Stock Exchange is open for business. You must purchase, redeem, and exchange sharesthrough your financial intermediary.

Tax Information

Any dividends or capital gainsare declared and paid annually, usually in December. Distributions by the fund, whether or not you reinvestthese amounts in additional fund shares, may be taxed as ordinary income or capital gains unless youinvest through a tax-deferred account. A redemption or exchange of fund shares may be taxable. 

Paymentsto Broker-Dealers and Other Financial Intermediaries

If you purchase shares of the fund through abroker-dealer or other financial intermediary (such as a bank), the fund and its related companies maypay the intermediary for the sale of fund shares and related services. These payments may create a conflictof interest by influencing the broker-dealer or other intermediary 

|    |   |
|---------|--------|
| Summary | 5      |

andyour salesperson to recommend the fund over another investment. Ask your salesperson or visit your financialintermediary’s website for more information.

|                                                                  |           |
|-----------------------------------------------------------------------|----------------|
| T. Rowe PriceAssociates, Inc.100 East Pratt StreetBaltimore, MD 21202 | E440-0455/1/14 |