# EDGAR Filing Document

**Accession Number:** 0000775688
**File Stem:** 0001099263-25-003614
**Filing Date:** 2025-11
**Character Count:** 45246
**Document Hash:** 105d1259cb360785992c6f69244e2ec9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001099263-25-003614.hdr.sgml**: 20251125

**ACCESSION NUMBER**: 0001099263-25-003614

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251125

**DATE AS OF CHANGE**: 20251125

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** T. Rowe Price Equity Income Fund, Inc.
- **CENTRAL INDEX KEY:** 0000775688

**ORGANIZATION NAME:**
- **EIN:** 521424600
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04400
- **FILM NUMBER:** 251521884

**BUSINESS ADDRESS:**
- **STREET 1:** 1307 POINT STREET
- **CITY:** BALTIMORE
- **STATE:** MD
- **ZIP:** 21231
- **BUSINESS PHONE:** 410-345-2000

**MAIL ADDRESS:**
- **STREET 1:** 1307 POINT STREET
- **CITY:** BALTIMORE
- **STATE:** MD
- **ZIP:** 21231

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** T. Rowe Price Equity Income Fund
- **DATE OF NAME CHANGE:** 20051018

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** PRICE T ROWE EQUITY INCOME FUND
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### T. Rowe Price Equity Income Fund (Series ID: S000002076)

| Class ID   | Class Name                                     | Ticker Symbol   |
|:---|:---|:---|
| C000005436 | T. Rowe Price Equity Income Fund               | PRFDX           |
| C000005437 | T. Rowe Price Equity Income Fund-Advisor Class | PAFDX           |
| C000005438 | T. Rowe Price Equity Income Fund-R Class       | RRFDX           |
| C000166330 | T. Rowe Price Equity Income Fund-I Class       | REIPX           |
| C000225772 | T. Rowe Price Equity Income Fund-Z Class       | TRZQX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** T. ROWE PRICE EQUITY INCOME FUND, INC.

- **b. Investment Company Act file number:** 811-04400

- **c. CIK number of Registrant:** 0000775688

- **d. LEI of Registrant:** 549300C7SV7JCOR39E92

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 1307 Point Street

  - **City:** Baltimore

  - **State:** MD

  - **Foreign country:** US

  - **Zip / Postal Code:** 21231

  - **Telephone number:** 410-345-2000

**Item A.2. Information about the Series.**

- **a. Name of Series:** T. Rowe Price Equity Income Fund

- **b. EDGAR series identifier (if any):** S000002076

- **c. LEI of Series:** 549300MTM2TG5D07WI51

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-09-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $16374145830.62

**Total Liabilities:** $8616142.17

**Net Assets:** $16365529688.45

**Assets Attributable to Miscellaneous Securities:** $8650950.00

**Cash Not Reported:** $1739616.38

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 0.000000 | **1-Year:** 0.000000 | **5-Year:** 0.000000 | **10-Year:** 0.000000 | **30-Year:** 0.000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 0.000000 | **1-Year:** 0.000000 | **5-Year:** 0.000000 | **10-Year:** 0.000000 | **30-Year:** 0.000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000005436 | -0.79%               | 4.23%                | 0.43%                |
| Class ID C000005437 | -0.80%               | 4.19%                | 0.41%                |
| Class ID C000005438 | -0.83%               | 4.17%                | 0.38%                |
| Class ID C000166330 | -0.77%               | 4.23%                | 0.43%                |
| Class ID C000225772 | -0.71%               | 4.30%                | 0.44%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $111198280.27            | $-237468740.29                             |
| Month 2  | $194528516.72            | $442343769.38                              |
| Month 3  | $203756616.13            | $-167590178.30                             |

### Schedule of Portfolio Investments

| Name                                  | Title                                 | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| 3M CO                                 | 3M CO                                 | CUSIP: 88579Y101<br>LEI: LUZQVYP4VS22CLWDAR65 | Long             | EC               | CORP              | US        |    230000 | NS      | $35691400.00  | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| ACCENTURE PLC CL A                    | ACCENTURE PLC                         | CUSIP: 000000000<br>LEI: 5493000EWHDSR3MZWH98 | Long             | EC               | CORP              | IE        |    420000 | NS      | $103572000.00 | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| ADOBE INC                             | ADOBE INC                             | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |     39000 | NS      | $13757250.00  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| ADVANCED MICRO DEVICES                | ADVANCED MICRO DEVICES INC            | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |    541695 | NS      | $87640834.05  | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| AGCO CORP                             | AGCO CORP                             | CUSIP: 001084102<br>LEI: LYOM0B2GCF1JWXK5ZG04 | Long             | EC               | CORP              | US        |    678752 | NS      | $72673976.64  | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLIANT ENERGY CORP                   | ALLIANT ENERGY CORP                   | CUSIP: 018802108<br>LEI: 5493009ML300G373MZ12 | Long             | EC               | CORP              | US        |     65000 | NS      | $4381650.00   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLSTATE CORP                         | ALLSTATE CORP/THE                     | CUSIP: 020002101<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | EC               | CORP              | US        |    496768 | NS      | $106631251.20 | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| ALPHABET INC CL C                     | ALPHABET INC                          | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |    835000 | NS      | $203364250.00 | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| ALPHABET INC CL A                     | ALPHABET INC                          | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |   1089000 | NS      | $264735900.00 | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| AMAZON.COM INC                        | AMAZON.COM INC                        | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |   1145000 | NS      | $251407650.00 | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| AMEREN CORPORATION                    | AMEREN CORP                           | CUSIP: 023608102<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | EC               | CORP              | US        |   1880000 | NS      | $196234400.00 | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN INTERNATIONAL GROUP          | AMERICAN INTERNATIONAL GROUP INC      | CUSIP: 026874784<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | EC               | CORP              | US        |   2460000 | NS      | $193208400.00 | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| APOLLO GLOBAL MANAGEMENT INC          | APOLLO GLOBAL MANAGEMENT INC          | CUSIP: 03769M106<br>LEI: 254900LMFT1CY9IYB476 | Long             | EC               | CORP              | US        |    310000 | NS      | $41313700.00  | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| APPLIED MATERIALS INC                 | APPLIED MATERIALS INC                 | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |    605000 | NS      | $123867700.00 | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| ASTRAZENECA PLC-SPONS ADR             | ASTRAZENECA PLC                       | CUSIP: 046353108<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |   1382099 | NS      | $106034635.28 | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| AVERY DENNISON CORP                   | AVERY DENNISON CORP                   | CUSIP: 053611109<br>LEI: 549300PW7VPFCYKLIV37 | Long             | EC               | CORP              | US        |    170000 | NS      | $27568900.00  | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORP                  | BANK OF AMERICA CORP                  | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |   4745000 | NS      | $244794550.00 | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| BECTON DICKINSON AND CO               | BECTON DICKINSON & CO                 | CUSIP: 075887109<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | EC               | CORP              | US        |   1250000 | NS      | $233962500.00 | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| BIOGEN INC                            | BIOGEN INC                            | CUSIP: 09062X103<br>LEI: W8J5WZB5IY3K0NDQT671 | Long             | EC               | CORP              | US        |    295000 | NS      | $41323600.00  | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| BOEING CO/THE                         | BOEING CO/THE                         | CUSIP: 097023105<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EC               | CORP              | US        |   1018129 | NS      | $219742782.07 | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| BOEING CO/THE CVT 6.000000            | BOEING CO/THE                         | CUSIP: 097023204<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EP               | CORP              | US        |   1132929 | NS      | $78817870.53  | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| BRISTOL-MYERS SQUIBB CO               | BRISTOL-MYERS SQUIBB CO               | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |   1510000 | NS      | $68101000.00  | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| CARDINAL HEALTH INC                   | CARDINAL HEALTH INC                   | CUSIP: 14149Y108<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | EC               | CORP              | US        |     70000 | NS      | $10987200.00  | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| CF INDUSTRIES HOLDINGS INC            | CF INDUSTRIES HOLDINGS INC            | CUSIP: 125269100<br>LEI: 529900CG8YAQFZ2JMV97 | Long             | EC               | CORP              | US        |   2225000 | NS      | $199582500.00 | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| SCHWAB (CHARLES) CORP                 | CHARLES SCHWAB CORP/THE               | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |   3280000 | NS      | $313141600.00 | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| CHEVRON CORP                          | CHEVRON CORP                          | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    810000 | NS      | $125784900.00 | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| CHUBB LTD                             | CHUBB LTD                             | CUSIP: 000000000<br>LEI: E0JAN6VLUDI1HITHT809 | Long             | EC               | CORP              | CH        |    717000 | NS      | $202373250.00 | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| CIGNA GROUP/THE                       | CIGNA GROUP/THE                       | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |    528000 | NS      | $152196000.00 | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIGROUP INC                         | CITIGROUP INC                         | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |   3145000 | NS      | $319217500.00 | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| COLGATE-PALMOLIVE CO                  | COLGATE-PALMOLIVE CO                  | CUSIP: 194162103<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | EC               | CORP              | US        |   2330000 | NS      | $186260200.00 | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| COMCAST CORP-CLASS A                  | COMCAST CORP                          | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |   2605000 | NS      | $81849100.00  | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| CONAGRA BRANDS INC                    | CONAGRA BRANDS INC                    | CUSIP: 205887102<br>LEI: 54930035UDEIH090K650 | Long             | EC               | CORP              | US        |   2010000 | NS      | $36803100.00  | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| CONOCOPHILLIPS                        | CONOCOPHILLIPS                        | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |   2340000 | NS      | $221340600.00 | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| COREBRIDGE FINANCIAL INC              | COREBRIDGE FINANCIAL INC              | CUSIP: 21871X109<br>LEI: 549300XY1661QCIA7J65 | Long             | EC               | CORP              | US        |   1885000 | NS      | $60414250.00  | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| CSX CORP                              | CSX CORP                              | CUSIP: 126408103<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | EC               | CORP              | US        |   4675000 | NS      | $166009250.00 | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| CUBESMART                             | CUBESMART                             | CUSIP: 229663109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    105000 | NS      | $4269300.00   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| CUMMINS INC                           | CUMMINS INC                           | CUSIP: 231021106<br>LEI: ZUNI8PYC725B6H8JU438 | Long             | EC               | CORP              | US        |    207000 | NS      | $87430590.00  | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS HEALTH CORP                       | CVS HEALTH CORP                       | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |   3015000 | NS      | $227300850.00 | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| DOLLAR GENERAL CORP                   | DOLLAR GENERAL CORP                   | CUSIP: 256677105<br>LEI: OPX52SQVOZI8IVSWYU66 | Long             | EC               | CORP              | US        |    370000 | NS      | $38239500.00  | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| DOMINION ENERGY INC                   | DOMINION ENERGY INC                   | CUSIP: 25746U109<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | EC               | CORP              | US        |   1435000 | NS      | $87778950.00  | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| DOVER CORP                            | DOVER CORP                            | CUSIP: 260003108<br>LEI: 549300FMC2ALGA7N9E80 | Long             | EC               | CORP              | US        |    200000 | NS      | $33366000.00  | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| ELEVANCE HEALTH INC                   | ELEVANCE HEALTH INC                   | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |    706000 | NS      | $228122720.00 | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG RESOURCES INC                     | EOG RESOURCES INC                     | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |    520000 | NS      | $58302400.00  | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| EQT CORP                              | EQT CORP                              | CUSIP: 26884L109<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | EC               | CORP              | US        |   1195000 | NS      | $65043850.00  | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| EQUITABLE HOLDINGS INC                | EQUITABLE HOLDINGS INC                | CUSIP: 29452E101<br>LEI: 549300FIBAKMNHPZ4009 | Long             | EC               | CORP              | US        |   4095000 | NS      | $207944100.00 | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| EQUITY RESIDENTIAL                    | EQUITY RESIDENTIAL                    | CUSIP: 29476L107<br>LEI: 5493008RACSH5EP3PI59 | Long             | EC               | CORP              | US        |   3390000 | NS      | $219434700.00 | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| EXPAND ENERGY CORP                    | EXPAND ENERGY CORP                    | CUSIP: 165167735<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | EC               | CORP              | US        |    965000 | NS      | $102521600.00 | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| EXXON MOBIL CORP                      | EXXON MOBIL CORP                      | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |   1770000 | NS      | $199567500.00 | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| FIFTH THIRD BANCORP                   | FIFTH THIRD BANCORP                   | CUSIP: 316773100<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | EC               | CORP              | US        |   3675000 | NS      | $163721250.00 | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| FISERV INC                            | FISERV INC                            | CUSIP: 337738108<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | EC               | CORP              | US        |    730000 | NS      | $94118900.00  | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| FORTIVE CORP                          | FORTIVE CORP                          | CUSIP: 34959J108<br>LEI: 549300MU9YQJYHDQEF63 | Long             | EC               | CORP              | US        |   2220000 | NS      | $108757800.00 | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| GENERAL AEROSPACE                     | GENERAL ELECTRIC CO                   | CUSIP: 369604301<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | EC               | CORP              | US        |    674000 | NS      | $202752680.00 | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| GLOBAL PAYMENTS INC                   | GLOBAL PAYMENTS INC                   | CUSIP: 37940X102<br>LEI: 549300NOMHGVQBX6S778 | Long             | EC               | CORP              | US        |    255762 | NS      | $21248706.96  | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| HARTFORD INSURANCE GROUP INC/T        | HARTFORD INSURANCE GROUP INC/THE      | CUSIP: 416515104<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | EC               | CORP              | US        |   1100000 | NS      | $146729000.00 | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| HOME DEPOT INC                        | HOME DEPOT INC/THE                    | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |    380000 | NS      | $153972200.00 | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| HUMANA INC                            | HUMANA INC                            | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |     88533 | NS      | $23033630.61  | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| HUNTINGTON BANCSHARES INC             | HUNTINGTON BANCSHARES INC/OH          | CUSIP: 446150104<br>LEI: 549300XTVCVV9I7B5T19 | Long             | EC               | CORP              | US        |   9835000 | NS      | $169850450.00 | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| INTEL CORP                            | INTEL CORP                            | CUSIP: 458140100<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | EC               | CORP              | US        |   2620000 | NS      | $87901000.00  | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| INTERNATIONAL PAPER CO                | INTERNATIONAL PAPER CO                | CUSIP: 460146103<br>LEI: 824LMFJDH41EY779Q875 | Long             | EC               | CORP              | US        |   4545000 | NS      | $210888000.00 | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| JOHNSON & JOHNSON                     | JOHNSON & JOHNSON                     | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |    385000 | NS      | $71386700.00  | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| J.P. MORGAN CHASE & CO.               | JPMORGAN CHASE & CO                   | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |   1004000 | NS      | $316691720.00 | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| KENVUE INC                            | KENVUE INC                            | CUSIP: 49177J102<br>LEI: 5493008HSF8L4M2LIJ82 | Long             | EC               | CORP              | US        |  10270000 | NS      | $166682100.00 | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| KEURIG DR PEPPER INC                  | KEURIG DR PEPPER INC                  | CUSIP: 49271V100<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | EC               | CORP              | US        |    395000 | NS      | $10076450.00  | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| KIMBERLY-CLARK CORP                   | KIMBERLY-CLARK CORP                   | CUSIP: 494368103<br>LEI: MP3J6QPYPGN75NVW2S34 | Long             | EC               | CORP              | US        |   2085000 | NS      | $259248900.00 | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| L3HARRIS TECHNOLOGIES INC             | L3HARRIS TECHNOLOGIES INC             | CUSIP: 502431109<br>LEI: 549300UTE50ZMDBG8A20 | Long             | EC               | CORP              | US        |    964000 | NS      | $294415240.00 | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| LAS VEGAS SANDS CORP                  | LAS VEGAS SANDS CORP                  | CUSIP: 517834107<br>LEI: 549300DUOO1KXOHPM605 | Long             | EC               | CORP              | US        |   3830000 | NS      | $206015700.00 | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| LOEWS CORP                            | LOEWS CORP                            | CUSIP: 540424108<br>LEI: R8V1FN4M5ITGZOG7BS19 | Long             | EC               | CORP              | US        |   1770000 | NS      | $177690300.00 | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| MATTEL INC                            | MATTEL INC                            | CUSIP: 577081102<br>LEI: 549300VELLG24KHTJ564 | Long             | EC               | CORP              | US        |   3310000 | NS      | $55707300.00  | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| MEDTRONIC PLC                         | MEDTRONIC PLC                         | CUSIP: 000000000<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |   1515000 | NS      | $144288600.00 | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| MERCK & CO. INC.                      | MERCK & CO INC                        | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |   1430000 | NS      | $120019900.00 | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| META PLATFORMS INC-CLASS A            | META PLATFORMS INC                    | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |    142000 | NS      | $104281960.00 | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| METLIFE INC                           | METLIFE INC                           | CUSIP: 59156R108<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | EC               | CORP              | US        |   4330000 | NS      | $356662100.00 | 2.18%             |  |  |  | No            |                  1 | On Loan: No      |
| MICROSOFT CORP                        | MICROSOFT CORP                        | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |    333000 | NS      | $172477350.00 | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY                        | MORGAN STANLEY                        | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |    180000 | NS      | $28612800.00  | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| NEWS CORP NEW CLASS A                 | NEWS CORP                             | CUSIP: 65249B109<br>LEI: 549300ITS31QK8VRBQ14 | Long             | EC               | CORP              | US        |   5100000 | NS      | $156621000.00 | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXTERA ENERGY INC                    | NEXTERA ENERGY INC                    | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |   1735837 | NS      | $131038335.13 | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| NORFOLK SOUTHERN CORP                 | NORFOLK SOUTHERN CORP                 | CUSIP: 655844108<br>LEI: 54930036C8MWP850MI84 | Long             | EC               | CORP              | US        |    112000 | NS      | $33645920.00  | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| P G & E CORP                          | PG&E CORP                             | CUSIP: 69331C108<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | EC               | CORP              | US        |    619730 | NS      | $9345528.40   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| PHILIP MORRIS INTERNATIONAL           | PHILIP MORRIS INTERNATIONAL INC       | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |   1270000 | NS      | $205994000.00 | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| PHILLIPS 66                           | PHILLIPS 66                           | CUSIP: 718546104<br>LEI: 5493005JBO5YSIGK1814 | Long             | EC               | CORP              | US        |    550000 | NS      | $74811000.00  | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| PROCTER & GAMBLE CO/THE               | PROCTER & GAMBLE CO/THE               | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |   1175000 | NS      | $180538750.00 | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM INC                          | QUALCOMM INC                          | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |   2025000 | NS      | $336879000.00 | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| RALLIANT CORP                         | RALLIANT CORP                         | CUSIP: 750940108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1195000 | NS      | $52257350.00  | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| RAYONIER INC                          | RAYONIER INC                          | CUSIP: 754907103<br>LEI: HGV8VDVNL0W6SF2U9C50 | Long             | EC               | CORP              | US        |   3650000 | NS      | $96871000.00  | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| REXFORD INDUSTRIAL REALTY IN          | REXFORD INDUSTRIAL REALTY INC         | CUSIP: 76169C100<br>LEI: 549300MSLO0DF0EMX355 | Long             | EC               | CORP              | US        |   2511581 | NS      | $103251094.91 | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| ROCKWELL AUTOMATION INC               | ROCKWELL AUTOMATION INC               | CUSIP: 773903109<br>LEI: VH3R4HHBHH12O0EXZJ88 | Long             | EC               | CORP              | US        |    325000 | NS      | $113597250.00 | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| ESZ5 S&P500 EMINI FUT  DEC25          | S&P500 EMINI FUT  DEC25               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DE               | CORP              | US        |        83 | NC      | $-54628.91    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| SALESFORCE INC                        | SALESFORCE INC                        | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |    740000 | NS      | $175380000.00 | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| SAMSUNG ELECTRONICS CO LTD            | SAMSUNG ELECTRONICS CO LTD            | CUSIP: 000000000<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |   3045000 | NS      | $182548748.02 | 1.12%             |  |  |  | No            |                  2 | On Loan: No      |
| SANOFI ADR                            | SANOFI SA                             | CUSIP: 80105N105<br>LEI: 549300E9PC51EN656011 | Long             | EC               | CORP              | FR        |    784416 | NS      | $37024435.20  | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| SANOFI                                | SANOFI SA                             | CUSIP: 000000000<br>LEI: 549300E9PC51EN656011 | Long             | EC               | CORP              | FR        |    698427 | NS      | $66136779.91  | 0.40%             |  |  |  | No            |                  2 | On Loan: No      |
| SEMPRA                                | SEMPRA                                | CUSIP: 816851109<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | EC               | CORP              | US        |   1760823 | NS      | $158438853.54 | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| SIEMENS AG-REG                        | SIEMENS AG                            | CUSIP: 000000000<br>LEI: W38RGI023J3WT1HWRP32 | Long             | EC               | CORP              | DE        |    782000 | NS      | $211122820.24 | 1.29%             |  |  |  | No            |                  2 | On Loan: No      |
| SCHLUMBERGER LTD                      | SLB LTD                               | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | CW        |   2920000 | NS      | $100360400.00 | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| SOUTH BOW CORP                        | SOUTH BOW CORP                        | CUSIP: 000000000<br>LEI: 2549000XS5TAFA3YF943 | Long             | EC               | CORP              | CA        |   2105000 | NS      | $59563770.93  | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| SOUTHERN CO/THE                       | SOUTHERN CO/THE                       | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |   3695000 | NS      | $350175150.00 | 2.14%             |  |  |  | No            |                  1 | On Loan: No      |
| SOUTHWEST AIRLINES CO                 | SOUTHWEST AIRLINES CO                 | CUSIP: 844741108<br>LEI: UDTZ87G0STFETI6HGH41 | Long             | EC               | CORP              | US        |   5045000 | NS      | $160985950.00 | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| STANLEY BLACK & DECKER INC            | STANLEY BLACK & DECKER INC            | CUSIP: 854502101<br>LEI: 549300DJ09SMTO561131 | Long             | EC               | CORP              | US        |   2680582 | NS      | $199247660.06 | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| STATE STREET CORP                     | STATE STREET CORP                     | CUSIP: 857477103<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | EC               | CORP              | US        |    762367 | NS      | $88442195.67  | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| SUN COMMUNITIES INC                   | SUN COMMUNITIES INC                   | CUSIP: 866674104<br>LEI: 549300H5GEOJYN41ZG57 | Long             | EC               | CORP              | US        |    226250 | NS      | $29186250.00  | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| T-MOBILE US INC                       | T-MOBILE US INC                       | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |     90000 | NS      | $21544200.00  | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| T. Rowe Price Government Reserve Fund | T. Rowe Price Government Reserve Fund | CUSIP: 76105Y109<br>LEI: 5493002Y0IYARJVQ5N24 | Long             | STIV             | RF                | US        | 195107801 | NS      | $195107801.33 | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| TC ENERGY CORP                        | TC ENERGY CORP                        | CUSIP: 87807B107<br>LEI: 549300UGKOFV2IWJJG27 | Long             | EC               | CORP              | CA        |   1435000 | NS      | $78078350.00  | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| TE CONNECTIVITY PLC                   | TE CONNECTIVITY PLC                   | CUSIP: 000000000<br>LEI: 6367003TB6K484NFHE54 | Long             | EC               | CORP              | IE        |     88611 | NS      | $19452772.83  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| TEXAS INSTRUMENTS INC                 | TEXAS INSTRUMENTS INC                 | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |    827646 | NS      | $152063399.58 | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| THERMO FISHER SCIENTIFIC INC          | THERMO FISHER SCIENTIFIC INC          | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |    166245 | NS      | $80632149.90  | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| TOTALENERGIES SE -SPON ADR            | TOTALENERGIES SE                      | CUSIP: 89151E109<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |    535000 | NS      | $31934150.00  | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| TOTALENERGIES SE                      | TOTALENERGIES SE                      | CUSIP: 000000000<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |   3535000 | NS      | $215312023.60 | 1.32%             |  |  |  | No            |                  2 | On Loan: No      |
| TYSON FOODS INC-CL A                  | TYSON FOODS INC                       | CUSIP: 902494103<br>LEI: WD6L6041MNRW1JE49D58 | Long             | EC               | CORP              | US        |   2232998 | NS      | $121251791.40 | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| UNION PACIFIC CORP                    | UNION PACIFIC CORP                    | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |    465000 | NS      | $109912050.00 | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITED PARCEL SERVICE-CL B            | UNITED PARCEL SERVICE INC             | CUSIP: 911312106<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | EC               | CORP              | US        |   1305000 | NS      | $109006650.00 | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITEDHEALTH GROUP INC                | UNITEDHEALTH GROUP INC                | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |    429000 | NS      | $148133700.00 | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| US BANCORP                            | US BANCORP                            | CUSIP: 902973304<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EC               | CORP              | US        |   3870000 | NS      | $187037100.00 | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| VERIZON COMMUNICATIONS INC            | VERIZON COMMUNICATIONS INC            | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |    525000 | NS      | $23073750.00  | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| VIATRIS INC                           | VIATRIS INC                           | CUSIP: 92556V106<br>LEI: 254900ZZTSW7NL773X71 | Long             | EC               | CORP              | US        |  12405000 | NS      | $122809500.00 | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| VOLKSWAGEN AG-PREF                    | VOLKSWAGEN AG                         | CUSIP: 000000000<br>LEI: 529900NNUPAGGOMPXZ31 | Long             | EP               | CORP              | DE        |    615000 | NS      | $66659662.20  | 0.41%             |  |  |  | No            |                  2 | On Loan: No      |
| WALMART INC                           | WALMART INC                           | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |    855000 | NS      | $88116300.00  | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| WALT DISNEY CO/THE                    | WALT DISNEY CO/THE                    | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |   1440000 | NS      | $164880000.00 | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO & CO                      | WELLS FARGO & CO                      | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |   3035000 | NS      | $254393700.00 | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| WEST FRASER TIMBER CO LTD             | WEST FRASER TIMBER CO LTD             | CUSIP: 952845105<br>LEI: 5493005WD1ZK6WBVR988 | Long             | EC               | CORP              | CA        |    905000 | NS      | $61521900.00  | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| WEYERHAEUSER CO                       | WEYERHAEUSER CO                       | CUSIP: 962166104<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | EC               | CORP              | US        |   6335000 | NS      | $157044650.00 | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| WILLIAMS COS INC                      | WILLIAMS COS INC/THE                  | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |   1425000 | NS      | $90273750.00  | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| XCEL ENERGY INC                       | XCEL ENERGY INC                       | CUSIP: 98389B100<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | EC               | CORP              | US        |    920000 | NS      | $74198000.00  | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| ZIMMER BIOMET HOLDINGS INC            | ZIMMER BIOMET HOLDINGS INC            | CUSIP: 98956P102<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Long             | EC               | CORP              | US        |   2365798 | NS      | $233031103.00 | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-05

**Name of Applicant:** T. ROWE PRICE EQUITY INCOME FUND, INC.

**Signature:** /s/ Alan Dupski

**Name of Signer:** Alan Dupski

**Title:** Treasurer & Vice President