# EDGAR Filing Document

**Accession Number:** 0000775688
**File Stem:** 0000775688-25-000032
**Filing Date:** 2025-8
**Character Count:** 44212
**Document Hash:** d7fc7c2bf850a13e30d38ea2211c4499
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000775688-25-000032.hdr.sgml**: 20250826

**ACCESSION NUMBER**: 0000775688-25-000032

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250826

**DATE AS OF CHANGE**: 20250826

**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:** 251256781

**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:** 2025-06-30

**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:** $16430151953.86

**Total Liabilities:** $8779371.17

**Net Assets:** $16421372582.69

**Cash Not Reported:** $34256003.89

**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 C000225772 | -4.36%               | 3.95%                | 2.88%                |
| Class ID C000005436 | -4.43%               | 3.90%                | 2.84%                |
| Class ID C000005438 | -4.46%               | 3.87%                | 2.78%                |
| Class ID C000005437 | -4.47%               | 3.89%                | 2.79%                |
| Class ID C000166330 | -4.40%               | 3.91%                | 2.83%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $89235329.99             | $-834735362.66                             |
| Month 2  | $88278567.89             | $477896003.23                              |
| Month 3  | $788177795.57            | $-381916995.23                             |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AGCO Corp                             | AGCO CORP                             | CUSIP: 001084102<br>LEI: LYOM0B2GCF1JWXK5ZG04 | Long             | EC               | CORP              | US        |    690000 | NS      | $71180400.00  | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T Inc                              | AT&T INC                              | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |    785000 | NS      | $22717900.00  | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Adobe Inc                             | ADOBE INC                             | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |    123000 | NS      | $47586240.00  | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Micro Devices Inc            | ADVANCED MICRO DEVICES INC            | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |    550671 | NS      | $78140214.90  | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Allstate Corp/The                     | ALLSTATE CORP/THE                     | CUSIP: 020002101<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | EC               | CORP              | US        |    505000 | NS      | $101661550.00 | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                          | ALPHABET INC                          | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |    855000 | NS      | $151668450.00 | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                          | ALPHABET INC                          | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |   1095000 | NS      | $192971850.00 | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com Inc                        | AMAZON.COM INC                        | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |   1201540 | NS      | $263605860.60 | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Ameren Corp                           | AMEREN CORP                           | CUSIP: 023608102<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | EC               | CORP              | US        |   2120000 | NS      | $203604800.00 | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| American International Group Inc      | AMERICAN INTERNATIONAL GROUP INC      | CUSIP: 026874784<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | EC               | CORP              | US        |   2280000 | NS      | $195145200.00 | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Elevance Health Inc                   | ELEVANCE HEALTH INC                   | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |    759000 | NS      | $295220640.00 | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Apollo Global Management Inc          | APOLLO GLOBAL MANAGEMENT INC          | CUSIP: 03769M106<br>LEI: 254900LMFT1CY9IYB476 | Long             | EC               | CORP              | US        |    300000 | NS      | $42561000.00  | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Materials Inc                 | APPLIED MATERIALS INC                 | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |    610000 | NS      | $111672700.00 | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| AstraZeneca PLC                       | ASTRAZENECA PLC                       | CUSIP: 046353108<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |   1405000 | NS      | $98181400.00  | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp                  | BANK OF AMERICA CORP                  | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |   3755000 | NS      | $177686600.00 | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Becton Dickinson & Co                 | BECTON DICKINSON & CO                 | CUSIP: 075887109<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | EC               | CORP              | US        |   1295000 | NS      | $223063750.00 | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Biogen Inc                            | BIOGEN INC                            | CUSIP: 09062X103<br>LEI: W8J5WZB5IY3K0NDQT671 | Long             | EC               | CORP              | US        |    315000 | NS      | $39560850.00  | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Boeing Co/The                         | BOEING CO/THE                         | CUSIP: 097023105<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EC               | CORP              | US        |   1035000 | NS      | $216863550.00 | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Boeing Co/The                         | BOEING CO/THE                         | CUSIP: 097023204<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EP               | CORP              | US        |   1151679 | NS      | $78314172.00  | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Bristol-Myers Squibb Co               | BRISTOL-MYERS SQUIBB CO               | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |   1355000 | NS      | $62722950.00  | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| CF Industries Holdings Inc            | CF INDUSTRIES HOLDINGS INC            | CUSIP: 125269100<br>LEI: 529900CG8YAQFZ2JMV97 | Long             | EC               | CORP              | US        |   2505000 | NS      | $230460000.00 | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Cigna Group/The                       | CIGNA GROUP/THE                       | CUSIP: 125523100<br>LEI: 549300VIWYMSIGT1U456 | Long             | EC               | CORP              | US        |    543000 | NS      | $179504940.00 | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| CSX Corp                              | CSX CORP                              | CUSIP: 126408103<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | EC               | CORP              | US        |   5255000 | NS      | $171470650.00 | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS Health Corp                       | CVS HEALTH CORP                       | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |   3135000 | NS      | $216252300.00 | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Cardinal Health Inc                   | CARDINAL HEALTH INC                   | CUSIP: 14149Y108<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | EC               | CORP              | US        |     95000 | NS      | $15960000.00  | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Expand Energy Corp                    | EXPAND ENERGY CORP                    | CUSIP: 165167735<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | EC               | CORP              | US        |    775000 | NS      | $90628500.00  | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp                          | CHEVRON CORP                          | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    300000 | NS      | $42957000.00  | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Inc                         | CITIGROUP INC                         | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |   3495000 | NS      | $297494400.00 | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Colgate-Palmolive Co                  | COLGATE-PALMOLIVE CO                  | CUSIP: 194162103<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | EC               | CORP              | US        |   2020000 | NS      | $183618000.00 | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corp                          | COMCAST CORP                          | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |   2645000 | NS      | $94400050.00  | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Conagra Brands Inc                    | CONAGRA BRANDS INC                    | CUSIP: 205887102<br>LEI: 54930035UDEIH090K650 | Long             | EC               | CORP              | US        |   2354452 | NS      | $48195632.44  | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                        | CONOCOPHILLIPS                        | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |   2360000 | NS      | $211786400.00 | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Corebridge Financial Inc              | COREBRIDGE FINANCIAL INC              | CUSIP: 21871X109<br>LEI: 549300XY1661QCIA7J65 | Long             | EC               | CORP              | US        |   2045000 | NS      | $72597500.00  | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Cummins Inc                           | CUMMINS INC                           | CUSIP: 231021106<br>LEI: ZUNI8PYC725B6H8JU438 | Long             | EC               | CORP              | US        |    311000 | NS      | $101852500.00 | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Walt Disney Co/The                    | WALT DISNEY CO/THE                    | CUSIP: 254687106<br>LEI: 549300GZKULIZ0WOW665 | Long             | EC               | CORP              | US        |   1515000 | NS      | $187875150.00 | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Dollar General Corp                   | DOLLAR GENERAL CORP                   | CUSIP: 256677105<br>LEI: OPX52SQVOZI8IVSWYU66 | Long             | EC               | CORP              | US        |    420000 | NS      | $48039600.00  | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Dominion Energy Inc                   | DOMINION ENERGY INC                   | CUSIP: 25746U109<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | EC               | CORP              | US        |   2100000 | NS      | $118692000.00 | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG Resources Inc                     | EOG RESOURCES INC                     | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |    530000 | NS      | $63393300.00  | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| EQT Corp                              | EQT CORP                              | CUSIP: 26884L109<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | EC               | CORP              | US        |   1605000 | NS      | $93603600.00  | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Equitable Holdings Inc                | EQUITABLE HOLDINGS INC                | CUSIP: 29452E101<br>LEI: 549300FIBAKMNHPZ4009 | Long             | EC               | CORP              | US        |   4450000 | NS      | $249645000.00 | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity Residential                    | EQUITY RESIDENTIAL                    | CUSIP: 29476L107<br>LEI: 5493008RACSH5EP3PI59 | Long             | EC               | CORP              | US        |   3575000 | NS      | $241276750.00 | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp                      | EXXON MOBIL CORP                      | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |   1980000 | NS      | $213444000.00 | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc                    | META PLATFORMS INC                    | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |    131000 | NS      | $96689790.00  | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Ferguson Enterprises Inc              | FERGUSON ENTERPRISES INC              | CUSIP: 31488V107<br>LEI: 2138003JYQMRP3SLX189 | Long             | EC               | CORP              | US        |    140000 | NS      | $30485000.00  | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Fifth Third Bancorp                   | FIFTH THIRD BANCORP                   | CUSIP: 316773100<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | EC               | CORP              | US        |   3885000 | NS      | $159790050.00 | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Fiserv Inc                            | FISERV INC                            | CUSIP: 337738108<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | EC               | CORP              | US        |    820000 | NS      | $141376200.00 | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortive Corp                          | FORTIVE CORP                          | CUSIP: 34959J108<br>LEI: 549300MU9YQJYHDQEF63 | Long             | EC               | CORP              | US        |   2045000 | NS      | $106605850.00 | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| General Electric Co                   | GENERAL ELECTRIC CO                   | CUSIP: 369604301<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | EC               | CORP              | US        |    788084 | NS      | $202844940.76 | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Payments Inc                   | GLOBAL PAYMENTS INC                   | CUSIP: 37940X102<br>LEI: 549300NOMHGVQBX6S778 | Long             | EC               | CORP              | US        |    260000 | NS      | $20810400.00  | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Hartford Insurance Group Inc/The      | HARTFORD INSURANCE GROUP INC/THE      | CUSIP: 416515104<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | EC               | CORP              | US        |   1435000 | NS      | $182058450.00 | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Hess Corp                             | HESS CORP                             | CUSIP: 42809H107<br>LEI: UASVRYNXNK17ULIGK870 | Long             | EC               | CORP              | US        |    385000 | NS      | $53337900.00  | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot Inc/The                    | HOME DEPOT INC/THE                    | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |    369000 | NS      | $135290160.00 | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Humana Inc                            | HUMANA INC                            | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |     90000 | NS      | $22003200.00  | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Huntington Bancshares Inc/OH          | HUNTINGTON BANCSHARES INC/OH          | CUSIP: 446150104<br>LEI: 549300XTVCVV9I7B5T19 | Long             | EC               | CORP              | US        |  10280000 | NS      | $172292800.00 | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Intel Corp                            | INTEL CORP                            | CUSIP: 458140100<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | EC               | CORP              | US        |   2670000 | NS      | $59808000.00  | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| International Paper Co                | INTERNATIONAL PAPER CO                | CUSIP: 460146103<br>LEI: 824LMFJDH41EY779Q875 | Long             | EC               | CORP              | US        |   4535000 | NS      | $212374050.00 | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co                   | JPMORGAN CHASE & CO                   | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |   1060000 | NS      | $307304600.00 | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson                     | JOHNSON & JOHNSON                     | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |    485000 | NS      | $74083750.00  | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Kenvue Inc                            | KENVUE INC                            | CUSIP: 49177J102<br>LEI: 5493008HSF8L4M2LIJ82 | Long             | EC               | CORP              | US        |  10890000 | NS      | $227927700.00 | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Keurig Dr Pepper Inc                  | KEURIG DR PEPPER INC                  | CUSIP: 49271V100<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | EC               | CORP              | US        |    425000 | NS      | $14050500.00  | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Kimberly-Clark Corp                   | KIMBERLY-CLARK CORP                   | CUSIP: 494368103<br>LEI: MP3J6QPYPGN75NVW2S34 | Long             | EC               | CORP              | US        |   2160000 | NS      | $278467200.00 | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| L3Harris Technologies Inc             | L3HARRIS TECHNOLOGIES INC             | CUSIP: 502431109<br>LEI: 549300UTE50ZMDBG8A20 | Long             | EC               | CORP              | US        |   1157000 | NS      | $290221880.00 | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Las Vegas Sands Corp                  | LAS VEGAS SANDS CORP                  | CUSIP: 517834107<br>LEI: 549300DUOO1KXOHPM605 | Long             | EC               | CORP              | US        |   4070000 | NS      | $177085700.00 | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Loews Corp                            | LOEWS CORP                            | CUSIP: 540424108<br>LEI: R8V1FN4M5ITGZOG7BS19 | Long             | EC               | CORP              | US        |   1735000 | NS      | $159030100.00 | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Volkswagen AG                         | VOLKSWAGEN AG                         | CUSIP: 000000000<br>LEI: 529900NNUPAGGOMPXZ31 | Long             | EP               | CORP              | DE        |    765000 | NS      | $80870794.69  | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| Sanofi SA                             | SANOFI SA                             | CUSIP: 000000000<br>LEI: 549300E9PC51EN656011 | Long             | EC               | CORP              | FR        |    710000 | NS      | $68737736.67  | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| Siemens AG                            | SIEMENS AG                            | CUSIP: 000000000<br>LEI: W38RGI023J3WT1HWRP32 | Long             | EC               | CORP              | DE        |    825000 | NS      | $211908013.83 | 1.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Mattel Inc                            | MATTEL INC                            | CUSIP: 577081102<br>LEI: 549300VELLG24KHTJ564 | Long             | EC               | CORP              | US        |   3240000 | NS      | $63892800.00  | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Merck & Co Inc                        | MERCK & CO INC                        | CUSIP: 58933Y105<br>LEI: 4YV9Y5M8S0BRK1RP0397 | Long             | EC               | CORP              | US        |   1330000 | NS      | $105282800.00 | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| MetLife Inc                           | METLIFE INC                           | CUSIP: 59156R108<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | EC               | CORP              | US        |   4365000 | NS      | $351033300.00 | 2.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp                        | MICROSOFT CORP                        | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |    353000 | NS      | $175585730.00 | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                        | MORGAN STANLEY                        | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |    240000 | NS      | $33806400.00  | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| News Corp                             | NEWS CORP                             | CUSIP: 65249B109<br>LEI: 549300ITS31QK8VRBQ14 | Long             | EC               | CORP              | US        |   5930000 | NS      | $176239600.00 | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| NextEra Energy Inc                    | NEXTERA ENERGY INC                    | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |   1425000 | NS      | $98923500.00  | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| NextEra Energy Inc                    | NEXTERA ENERGY INC                    | CUSIP: 65339F713<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EP               | CORP              | US        |    678600 | NS      | $26967564.00  | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Norfolk Southern Corp                 | NORFOLK SOUTHERN CORP                 | CUSIP: 655844108<br>LEI: 54930036C8MWP850MI84 | Long             | EC               | CORP              | US        |    390000 | NS      | $99828300.00  | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsung Electronics Co Ltd            | SAMSUNG ELECTRONICS CO LTD            | CUSIP: 000000000<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |   3105000 | NS      | $137308134.63 | 0.84%             |  |  |  | No            |                  2 | On Loan: No      |
| PG&E Corp                             | PG&E CORP                             | CUSIP: 69331C108<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | EC               | CORP              | US        |    630000 | NS      | $8782200.00   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Philip Morris International Inc       | PHILIP MORRIS INTERNATIONAL INC       | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |   1395000 | NS      | $254071350.00 | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Phillips 66                           | PHILLIPS 66                           | CUSIP: 718546104<br>LEI: 5493005JBO5YSIGK1814 | Long             | EC               | CORP              | US        |    590000 | NS      | $70387000.00  | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Procter & Gamble Co/The               | PROCTER & GAMBLE CO/THE               | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |   1130000 | NS      | $180031600.00 | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM Inc                          | QUALCOMM INC                          | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |   2030000 | NS      | $323297800.00 | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Ralliant Corp                         | RALLIANT CORP                         | CUSIP: 750940108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    681667 | NS      | $33054013.36  | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Rayonier Inc                          | RAYONIER INC                          | CUSIP: 754907103<br>LEI: HGV8VDVNL0W6SF2U9C50 | Long             | EC               | CORP              | US        |   3785000 | NS      | $83951300.00  | 0.51%             |  |  |  | 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        |  92523797 | NS      | $92523797.28  | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Rexford Industrial Realty Inc         | REXFORD INDUSTRIAL REALTY INC         | CUSIP: 76169C100<br>LEI: 549300MSLO0DF0EMX355 | Long             | EC               | CORP              | US        |   2553198 | NS      | $90817252.86  | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Rockwell Automation Inc               | ROCKWELL AUTOMATION INC               | CUSIP: 773903109<br>LEI: VH3R4HHBHH12O0EXZJ88 | Long             | EC               | CORP              | US        |    325000 | NS      | $107955250.00 | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Salesforce Inc                        | SALESFORCE INC                        | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |    683000 | NS      | $186247270.00 | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Sanofi SA                             | SANOFI SA                             | CUSIP: 80105N105<br>LEI: 549300E9PC51EN656011 | Long             | EC               | CORP              | FR        |    797414 | NS      | $38523070.34  | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Schlumberger NV                       | SCHLUMBERGER NV                       | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | CW        |   3210000 | NS      | $108498000.00 | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Charles Schwab Corp/The               | CHARLES SCHWAB CORP/THE               | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |   3400000 | NS      | $310216000.00 | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Sempra                                | SEMPRA                                | CUSIP: 816851109<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | EC               | CORP              | US        |   1790000 | NS      | $135628300.00 | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern Co/The                       | SOUTHERN CO/THE                       | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |   3630000 | NS      | $333342900.00 | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Southwest Airlines Co                 | SOUTHWEST AIRLINES CO                 | CUSIP: 844741108<br>LEI: UDTZ87G0STFETI6HGH41 | Long             | EC               | CORP              | US        |   5195000 | NS      | $168525800.00 | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Stanley Black & Decker Inc            | STANLEY BLACK & DECKER INC            | CUSIP: 854502101<br>LEI: 549300DJ09SMTO561131 | Long             | EC               | CORP              | US        |   2725000 | NS      | $184618750.00 | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Corp                     | STATE STREET CORP                     | CUSIP: 857477103<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | EC               | CORP              | US        |    775000 | NS      | $82413500.00  | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Sun Communities Inc                   | SUN COMMUNITIES INC                   | CUSIP: 866674104<br>LEI: 549300H5GEOJYN41ZG57 | Long             | EC               | CORP              | US        |    230000 | NS      | $29092700.00  | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| TC Energy Corp                        | TC ENERGY CORP                        | CUSIP: 87807B107<br>LEI: 549300UGKOFV2IWJJG27 | Long             | EC               | CORP              | CA        |   1455000 | NS      | $70989450.00  | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Instruments Inc                 | TEXAS INSTRUMENTS INC                 | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |    841361 | NS      | $174683370.82 | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Thermo Fisher Scientific Inc          | THERMO FISHER SCIENTIFIC INC          | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |    169000 | NS      | $68522740.00  | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| 3M Co                                 | 3M CO                                 | CUSIP: 88579Y101<br>LEI: LUZQVYP4VS22CLWDAR65 | Long             | EC               | CORP              | US        |    285000 | NS      | $43388400.00  | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| TotalEnergies SE                      | TOTALENERGIES SE                      | CUSIP: 89151E109<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |    565000 | NS      | $34685350.00  | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Tyson Foods Inc                       | TYSON FOODS INC                       | CUSIP: 902494103<br>LEI: WD6L6041MNRW1JE49D58 | Long             | EC               | CORP              | US        |   2270000 | NS      | $126983800.00 | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| US Bancorp                            | US BANCORP                            | CUSIP: 902973304<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EC               | CORP              | US        |   3270000 | NS      | $147967500.00 | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| United Parcel Service Inc             | UNITED PARCEL SERVICE INC             | CUSIP: 911312106<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | EC               | CORP              | US        |   1315000 | NS      | $132736100.00 | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc                | UNITEDHEALTH GROUP INC                | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |    411000 | NS      | $128219670.00 | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Verizon Communications Inc            | VERIZON COMMUNICATIONS INC            | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |    945000 | NS      | $40890150.00  | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Viatris Inc                           | VIATRIS INC                           | CUSIP: 92556V106<br>LEI: 254900ZZTSW7NL773X71 | Long             | EC               | CORP              | US        |  12350000 | NS      | $110285500.00 | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Walmart Inc                           | WALMART INC                           | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |   1000000 | NS      | $97780000.00  | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo & Co                      | WELLS FARGO & CO                      | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |   3750000 | NS      | $300450000.00 | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| West Fraser Timber Co Ltd             | WEST FRASER TIMBER CO LTD             | CUSIP: 952845105<br>LEI: 5493005WD1ZK6WBVR988 | Long             | EC               | CORP              | CA        |    790000 | NS      | $57907000.00  | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Weyerhaeuser Co                       | WEYERHAEUSER CO                       | CUSIP: 962166104<br>LEI: 08IRJODWFYBI7QWRGS31 | Long             | EC               | CORP              | US        |   6661654 | NS      | $171137891.26 | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Williams Cos Inc/The                  | WILLIAMS COS INC/THE                  | CUSIP: 969457100<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | EC               | CORP              | US        |   1585000 | NS      | $99553850.00  | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Xcel Energy Inc                       | XCEL ENERGY INC                       | CUSIP: 98389B100<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | EC               | CORP              | US        |    545000 | NS      | $37114500.00  | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Zimmer Biomet Holdings Inc            | ZIMMER BIOMET HOLDINGS INC            | CUSIP: 98956P102<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Long             | EC               | CORP              | US        |   2405000 | NS      | $219360050.00 | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| TotalEnergies SE                      | TOTALENERGIES SE                      | CUSIP: 000000000<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |   3605000 | NS      | $220347189.56 | 1.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Chubb Ltd                             | CHUBB LTD                             | CUSIP: 000000000<br>LEI: E0JAN6VLUDI1HITHT809 | Long             | EC               | CORP              | CH        |    881000 | NS      | $255243320.00 | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Accenture PLC                         | ACCENTURE PLC                         | CUSIP: 000000000<br>LEI: 5493000EWHDSR3MZWH98 | Long             | EC               | CORP              | IE        |    460000 | NS      | $137489400.00 | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| South Bow Corp                        | SOUTH BOW CORP                        | CUSIP: 000000000<br>LEI: 2549000XS5TAFA3YF943 | Long             | EC               | CORP              | CA        |   2715000 | NS      | $70479346.43  | 0.43%             |  |  |  | No            |                  2 | On Loan: No      |
| TE Connectivity PLC                   | TE CONNECTIVITY PLC                   | CUSIP: 000000000<br>LEI: 6367003TB6K484NFHE54 | Long             | EC               | CORP              | IE        |    118086 | NS      | $19917565.62  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic PLC                         | MEDTRONIC PLC                         | CUSIP: 000000000<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |   1555000 | NS      | $135549350.00 | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-04

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

**Signature:** /s/ Alan Dupski

**Name of Signer:** Alan Dupski

**Title:** Treasurer & Vice President