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        <name>CMS ENERGY CORP</name>
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      <invstOrSec>
        <name>T ROWE PRICE INSTITUTIONAL FLOATING RATE FUND</name>
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        <fairValLevel>1</fairValLevel>
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        <name>HUB INTERNATIONAL LTD</name>
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        <name>FACEBOOK INC</name>
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        <title>Hologic Inc</title>
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        <name>HUB INTERNATIONAL LTD</name>
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        <title>Netflix Inc</title>
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        <name>CREDIT SUISSE SECURITIES (USA), LLC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>J.P. MORGAN CHASE BANK NA</name>
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        <title>DANAHER CORP</title>
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      <invstOrSec>
        <name>EMERALD TOPCO INC</name>
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        <title>Emerald TopCo Inc</title>
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        <fairValLevel>2</fairValLevel>
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        <name>PNC FINANCIAL SERVICES GROUP INC/THE</name>
        <lei>CFGNEKW0P8842LEUIA51</lei>
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        <fairValLevel>2</fairValLevel>
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        <name>GOLDMAN SACHS &amp; CO LLC</name>
        <lei>FOR8UP27PHTHYVLBNG30</lei>
        <title>ALPHABET INC</title>
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        <name>AMPHENOL CORP</name>
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        <name>CREDIT SUISSE SECURITIES (USA) LLC</name>
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        <name>REYNOLDS GRP ISS/REYNOLD</name>
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        <name>CONTL AIRLINES 2012-1 A</name>
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        <name>Marriott International Inc/MD</name>
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        <fairValLevel>1</fairValLevel>
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        <name>SENSATA TECHNOLOGIES BV</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>REYNOLDS GRP ISS/REYNOLD</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>DUKE ENERGY CORP</name>
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        <fairValLevel>1</fairValLevel>
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        <name>SENSATA TECHNOLOGIES BV</name>
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        <name>Keurig Dr Pepper Inc</name>
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        <title>Keurig Dr Pepper Inc</title>
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          <ticker value="KDP"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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        <name>Alcon Inc</name>
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        <title>Alcon Inc</title>
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        <fairValLevel>2</fairValLevel>
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        <name>CITIBANK NA</name>
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        <name>SCE TRUST III</name>
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          <ticker value="EIX"/>
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        <name>JPMORGAN CHASE &amp; CO</name>
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        <fairValLevel>1</fairValLevel>
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        <name>ULTIMATE SOFTWARE GROUP INC</name>
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        <title>Ultimate Software Group Inc/The</title>
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        <name>DOLLAR TREE INC</name>
        <lei>549300PMSTQITB1WHR43</lei>
        <title>Dollar Tree Inc</title>
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        <name>GOLDMAN SACHS &amp; CO LLC</name>
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        <title>VISA INC</title>
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        <name>ROPER TECHNOLOGIES INC</name>
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        <title>Roper Technologies Inc</title>
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        <name>STATE STREET CORP</name>
        <lei>549300ZFEEJ2IP5VME73</lei>
        <title>State Street Corp</title>
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        <issuerCat>CORP</issuerCat>
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        <title>Prestige Brands Inc</title>
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        <name>GOLDMAN SACHS &amp; CO LLC</name>
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        <name>REFINITIV US HOLDINGS</name>
        <lei>549300NF240HXJO7N016</lei>
        <title>Refinitiv US Holdings Inc</title>
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        <name>CITIBANK NA</name>
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        <name>T. ROWE PRICE GOVERNMENT RESERVE FUND</name>
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        <name>SHELL INTERNATIONAL FIN</name>
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        <title>Shell International Finance BV</title>
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        <name>Dominos Pizza Master Issuer LL</name>
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        <name>RECKITT BENCKISER TSY</name>
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        <name>BECTON DICKINSON AND CO</name>
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        <name>AMAZON.COM INC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>MICROSOFT CORP</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Global Payments Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>ELANCO ANIMAL HEALTH INC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>JPMORGAN CHASE BANK, NATIONAL ASSOCIATION</name>
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        <name>CREDIT SUISSE SECURITIES (USA), LLC</name>
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        <name>SIX FLAGS ENTERTAINMENT</name>
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        <title>Six Flags Entertainment Corp</title>
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        <name>GOLDMAN SACHS &amp; CO LLC</name>
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        <name>KRONOS INC/MA</name>
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        <name>AURORA INNOVATION SER B CVT PFD STOCK PP</name>
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        <name>CHARTER COMM OPT LLC/CAP</name>
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        <name>SENSATA TECH UK FIN CO</name>
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        <title>Sensata Technologies UK Financing Co PLC</title>
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        <name>J.P. MORGAN CHASE BANK NA</name>
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        <name>NUSTAR LOGISTICS LP</name>
        <lei>N62BF2PKP51FIIOIUN20</lei>
        <title>NuStar Logistics LP</title>
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        <name>Refinitiv US Holdings Inc</name>
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        <name>DTE ENERGY CO</name>
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        <name>Concho Resources Inc</name>
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        <name>SCE TRUST IV</name>
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        <name>WASTE CONNECTIONS INC</name>
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        <name>SENSATA TECHNOLOGIES BV</name>
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        <name>Dominos Pizza Master Issuer LL</name>
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        <name>FOUR SEASONS HOTELS LTD</name>
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        <name>SOLERA LLC / SOLERA FINA</name>
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        <name>NXP Semiconductors NV</name>
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      <invstOrSec>
        <name>BECTON DICKINSON AND CO</name>
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        <name>AMWINS GROUP INC</name>
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        <name>CCO HLDGS LLC/CAP CORP</name>
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        <name>SBA COMMUNICATIONS CORP</name>
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        <title>Welbilt Inc</title>
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        <name>GOLDMAN SACHS &amp; CO LLC</name>
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        <name>WELLS FARGO &amp; CO</name>
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        <name>NISOURCE INC</name>
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        <title>NiSource Inc</title>
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        <name>Avantor Inc</name>
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        <name>CCO HLDGS LLC/CAP CORP</name>
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        <name>Envista Holdings Corp</name>
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        <title>Envista Holdings Corp</title>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NETFLIX INC</name>
        <lei>549300Y7VHGU0I7CE873</lei>
        <title>Netflix Inc</title>
        <cusip>64110LAE6</cusip>
        <identifiers>
          <isin value="US64110LAE65"/>
          <other otherDesc="Sedol" value="BJSVL59"/>
        </identifiers>
        <balance>20705000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>20886168.75000000</valUSD>
        <pctVal>0.063978930389</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2021-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>YUM! BRANDS INC</name>
        <lei>549300JE8XHZZ7OHN517</lei>
        <title>Yum! Brands Inc</title>
        <cusip>988498AD3</cusip>
        <identifiers>
          <isin value="US988498AD34"/>
          <other otherDesc="Sedol" value="B28QNX7"/>
        </identifiers>
        <balance>27015000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>26069475.00000000</valUSD>
        <pctVal>0.079856537897</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2037-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>6.87500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NETFLIX INC</name>
        <lei>549300Y7VHGU0I7CE873</lei>
        <title>Netflix Inc</title>
        <cusip>64110LAN6</cusip>
        <identifiers>
          <isin value="US64110LAN64"/>
          <other otherDesc="Sedol" value="BDGJMQ1"/>
        </identifiers>
        <balance>134150000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>134485375.00000000</valUSD>
        <pctVal>0.411958293956</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-11-15</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.37500000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RECKITT BENCKISER TSY</name>
        <lei>213800LAXWIUOOBZ3908</lei>
        <title>Reckitt Benckiser Treasury Services PLC</title>
        <cusip>75625QAF6</cusip>
        <identifiers>
          <isin value="US75625QAF63"/>
          <other otherDesc="Sedol" value="BF1XMK6"/>
        </identifiers>
        <balance>35825000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>34536589.70000000</valUSD>
        <pctVal>0.105793173212</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>DBT</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2022-06-24</maturityDt>
          <couponKind>Floating</couponKind>
          <annualizedRt>1.76413000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2020-05-21</ncom:dateSigned>
      <ncom:nameOfApplicant>T. ROWE PRICE CAPITAL APPRECIATION FUND, INC.</ncom:nameOfApplicant>
      <ncom:signature>Alan S. Dupski</ncom:signature>
      <ncom:signerName>Alan S. Dupski</ncom:signerName>
      <ncom:title>Treasurer &amp; Vice President</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
