T. ROWE PRICE SCIENCE & TECHNOLOGY FUND
March 31, 2019	(Unaudited)
Portfolio of Investments‡	Shares	$ Value
(Cost and value in $000s)
COMMON STOCKS 88.6%
ENERGY 0.9%
Energy Related 0.9%
DowDuPont	1,039,300	55,405
Total Energy		55,405
HARDWARE 9.4%
Consumer Electronics 4.5%
Samsung Electronics (KRW)	6,770,212	267,037
		267,037
Enterprise Hardware 2.0%
Coherent (1)	415,683	58,911
Pure Storage, Class A (1)	2,634,603	57,408
		116,319
Imaging 0.6%
Largan Precision (TWD)	224,000	33,596
		33,596
Supply Chain/Electronic Manufacturing 2.3%
Tesla (1)(2)	480,195	134,387
		134,387
Total Hardware		551,339
HEALTH CARE 0.9%
Biotechnology 0.2%
Grifols, ADR	590,963	11,884
		11,884
Healthcare Services 0.7%
Intuitive Surgical (1)	71,386	40,732
		40,732
Total Health Care		52,616

T. ROWE PRICE SCIENCE & TECHNOLOGY FUND
	Shares	$ Value
(Cost and value in $000s)
INTERNET 42.0%
Internet Media/Advertising 17.9%
Alphabet, Class C (1)	220,965	259,260
Facebook, Class A (1)	3,944,429	657,497
NAVER (KRW)	897,985	98,278
Tencent Holdings (HKD)	861,600	39,623
		1,054,658
Internet Retail 12.3%
Alibaba Group Holding, ADR (1)	786,000	143,405
Altaba (1)(3)	3,371,436	249,891
Amazon.com (1)	68,001	121,093
JAND, Class A, Acquisition Date: 3/9/18, Cost $10,321 (1)(4)(5)	656,699	10,047
Zalando (EUR)(1)	5,184,795	202,567
		727,003
Internet Services 11.8%
58.com, ADR (1)(2)	231,128	15,181
Booking Holdings (1)	145,085	253,160
Ctrip.com International, ADR (1)	9,815,889	428,856
		697,197
Total Internet		2,478,858
MEDIA 5.3%
Media & Entertainment 5.3%
Mail.Ru Group, GDR (1)	5,163,262	127,727
Naspers, N Shares (ZAR)	659,508	153,693
News, Class A	2,316,500	28,817
Total Media		310,237
SEMICONDUCTORS 19.7%
Analog Semiconductors 3.7%
Maxim Integrated Products	1,728,471	91,903
NXP Semiconductors	628,300	55,535
Texas Instruments	683,243	72,472
		219,910

T. ROWE PRICE SCIENCE & TECHNOLOGY FUND
	Shares	$ Value
(Cost and value in $000s)
Digital Semiconductors 8.5%
Marvell Technology Group	7,415,499	147,494
Micron Technology (1)	4,126,499	170,548
NVIDIA	1,003,490	180,187
		498,229
Semiconductor Capital Equipment 7.5%
Applied Materials	2,841,400	112,690
ASML Holding (EUR)	497,512	93,508
Lam Research	958,324	171,550
Qorvo (1)	918,800	65,905
		443,653
Total Semiconductors		1,161,792
SOFTWARE 10.4%
Consumer Software 0.7%
Intuit	162,187	42,397
		42,397
Enterprise Software 0.7%
Ellie Mae (1)	385,223	38,018
		38,018
Infrastructure Software 3.8%
Microsoft	1,921,600	226,633
		226,633
Systems Software 2.6%
Symantec	6,744,625	155,059
		155,059
Technical Software 2.6%
Synopsys (1)	1,307,700	150,582
		150,582
Total Software		612,689
Total Common Stocks (Cost $4,381,144)		5,222,936

T. ROWE PRICE SCIENCE & TECHNOLOGY FUND
	Shares	$ Value
(Cost and value in $000s)
CONVERTIBLE PREFERRED STOCKS 1.2%
INTERNET 0.6%
Internet Retail 0.2%
JAND, Series E, Acquisition Date: 3/9/18, Cost $12,732 (1)(4)(5)	810,105	12,394
		12,394
Internet Services 0.4%
Airbnb, Series E, Acquisition Date: 7/14/15,
Cost $12,110 (1)(4)(5)	130,085	15,095
Xiaoju Kuaizhi, Series A-17, Acquisition Date: 10/19/15,
Cost $3,833 (1)(4)(5)	139,768	6,707
		21,802
Total Internet		34,196
SOFTWARE 0.6%
Infrastructure Software 0.4%
Mesosphere, Series D, Acquisition Date: 5/4/18,
Cost $22,330 (1)(4)(5)	2,019,933	22,330
		22,330
Software & Services 0.2%
Coupang, Series G Acquisition Date: 1/9/15,
Cost $6,176 (1)(4)(5)	2,183,050	12,445
		12,445
Total Software		34,775
Total Convertible Preferred Stocks (Cost $57,180)		68,971
SHORT-TERM INVESTMENTS 10.6%
Money Market Funds 10.6%
T. Rowe Price Treasury Reserve Fund, 2.49% (6)(7)	624,076,982	624,077
		624,077
Total Short-Term Investments (Cost $624,077)		624,077

T. ROWE PRICE SCIENCE & TECHNOLOGY FUND
	Shares		$ Value
(Cost and value in $000s)
SECURITIES LENDING COLLATERAL 1.9%
Investments in a Pooled Account through Securities Lending
Program with State Street Bank and Trust Company 1.9%
T. Rowe Price Short-Term Fund, 2.60% (6)(7)	11,381,991		113,820
Total Investments in a Pooled Account through Securities Lending Program with
State Street Bank and Trust Company			113,820
Total Securities Lending Collateral (Cost $113,820)			113,820
Total Investments in Securities 102.3%
(Cost $5,176,221)		$	6,029,804
Other Assets Less Liabilities (2.3)%			(133,673)
Net Assets 100.0%		$	5,896,131

‡ Shares are denominated in U.S. dollars unless otherwise noted.
(1) Non-income producing
⁽²⁾ All or a portion of this security is on loan at March 31, 2019.
(3) Organized as a closed-end management investment company.
⁽⁴⁾ Security cannot be offered for public resale without first being registered
under the Securities Act of 1933 and related rules ("restricted security").
Acquisition date represents the day on which an enforceable right to acquire
such security is obtained and is presented along with related cost in the
security description. The fund has registration rights for certain restricted
securities. Any costs related to such registration are borne by the issuer. The
aggregate value of restricted securities (excluding 144A holdings) at period-
end amounts to $79,018 and represents 1.3% of net assets.
(5) Level 3 in fair value hierarchy.
(6) Affiliated Companies
(7) Seven-day yield
ADR American Depositary Receipts
GDR Global Depositary Receipts
EUR Euro
HKD Hong Kong Dollar
KRW South Korean Won
TWD Taiwan Dollar
ZAR South African Rand

T. ROWE PRICE SCIENCE & TECHNOLOGY FUND

Affiliated Companies
($000s)

The fund may invest in certain securities that are considered affiliated companies. As defined
by the 1940 Act, an affiliated company is one in which the fund owns 5% or more of the
outstanding voting securities, or a company that is under common ownership or control. The
following securities were considered affiliated companies for all or some portion of the three
months ended March 31, 2019. Net realized gain (loss), investment income, change in net
unrealized gain/loss, and purchase and sales cost reflect all activity for the period then ended.

				Change in Net
		Net Realized Gain		Unrealized		Investment
Affiliate		(Loss)		Gain/Loss		Income
T. Rowe Price Treasury Reserve
Fund	$	—	$	—	$	2,915
T. Rowe Price Short-Term Fund		—		—		—++
Totals	$	—#	$	—	$	2,915+

Supplementary Investment Schedule
		Value	Purchase	Sales	Value
Affiliate		12/31/18	Cost	Cost	3/31/19
T. Rowe Price Treasury
Reserve Fund	$	37,673	¤	¤ $	624,077
T. Rowe Price Short-Term
Fund		—	¤	¤	113,820
				$	737,897^

# Capital gain distributions from mutual funds represented $0 of the net realized gain (loss).
++ Excludes earnings on securities lending collateral, which are subject to rebates and fees.
+ Investment income comprised $2,915 of dividend income and $0 of interest income.
¤ Purchase and sale information not shown for cash management funds.
^ The cost basis of investments in affiliated companies was $737,897.

The accompanying notes are an integral part of this Portfolio of Investments.

T. ROWE PRICE SCIENCE & TECHNOLOGY FUND
Unaudited
NOTES TO PORTFOLIO OF
INVESTMENTS

T. Rowe Price Science & Technology Fund, Inc. (the fund) is registered under the Investment Company Act of 1940 (the
1940 Act) as an open-end management investment company and follows accounting and reporting guidance of the
Financial Accounting Standards Board Accounting Standards Codification Topic 946. The accompanying Portfolio of
Investments was prepared in accordance with accounting principles generally accepted in the United States of America
(GAAP). For additional information on the fund’s significant accounting policies and investment related disclosures,
please refer to the fund’s most recent semiannual or annual shareholder report and its prospectus.

VALUATION

The fund’s financial instruments are valued at the close of the New York Stock Exchange (NYSE), normally 4 p.m. ET,
each day the NYSE is open for business.

Fair Value
The fund’s financial instruments are reported at fair value, which GAAP defines as the price that would be received to
sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement
date. The T. Rowe Price Valuation Committee (the Valuation Committee) is an internal committee that has been
delegated certain responsibilities by the fund’s Board of Directors (the Board) to ensure that financial instruments are
appropriately priced at fair value in accordance with GAAP and the 1940 Act. Subject to oversight by the Board, the
Valuation Committee develops and oversees pricing-related policies and procedures and approves all fair value
determinations. Specifically, the Valuation Committee establishes procedures to value securities; determines pricing
techniques, sources, and persons eligible to effect fair value pricing actions; oversees the selection, services, and
performance of pricing vendors; oversees valuation-related business continuity practices; and provides guidance on
internal controls and valuation-related matters. The Valuation Committee reports to the Board and has representation
from legal, portfolio management and trading, operations, risk management, and the fund’s treasurer.

Various valuation techniques and inputs are used to determine the fair value of financial instruments. GAAP
establishes the following fair value hierarchy that categorizes the inputs used to measure fair value:

Level 1 - quoted prices (unadjusted) in active markets for identical financial instruments that the fund can access at
the reporting date

Level 2 - inputs other than Level 1 quoted prices that are observable, either directly or indirectly (including, but not
limited to, quoted prices for similar financial instruments in active markets, quoted prices for identical or
similar financial instruments in inactive markets, interest rates and yield curves, implied volatilities, and
credit spreads)

Level 3 - unobservable inputs

Observable inputs are developed using market data, such as publicly available information about actual events or
transactions, and reflect the assumptions that market participants would use to price the financial instrument.
Unobservable inputs are those for which market data are not available and are developed using the best information
available about the assumptions that market participants would use to price the financial instrument. GAAP requires
valuation techniques to maximize the use of relevant observable inputs and minimize the use of unobservable inputs.
When multiple inputs are used to derive fair value, the financial instrument is assigned to the level within the fair value
hierarchy based on the lowest-level input that is significant to the fair value of the financial instrument. Input levels are
not necessarily an indication of the risk or liquidity associated with financial instruments at that level but rather the
degree of judgment used in determining those values.

T. ROWE PRICE SCIENCE & TECHNOLOGY FUND

Valuation Techniques
Equity securities listed or regularly traded on a securities exchange or in the over-the-counter (OTC) market are valued
at the last quoted sale price or, for certain markets, the official closing price at the time the valuations are made. OTC
Bulletin Board securities are valued at the mean of the closing bid and asked prices. A security that is listed or traded on
more than one exchange is valued at the quotation on the exchange determined to be the primary market for such
security. Listed securities not traded on a particular day are valued at the mean of the closing bid and asked prices for
domestic securities and the last quoted sale or closing price for international securities.

For valuation purposes, the last quoted prices of non-U.S. equity securities may be adjusted to reflect the fair value of
such securities at the close of the NYSE. If the fund determines that developments between the close of a foreign market
and the close of the NYSE will affect the value of some or all of its portfolio securities, the fund will adjust the previous
quoted prices to reflect what it believes to be the fair value of the securities as of the close of the NYSE. In deciding
whether it is necessary to adjust quoted prices to reflect fair value, the fund reviews a variety of factors, including
developments in foreign markets, the performance of U.S. securities markets, and the performance of instruments
trading in U.S. markets that represent foreign securities and baskets of foreign securities. The fund may also fair value
securities in other situations, such as when a particular foreign market is closed but the fund is open. The fund uses
outside pricing services to provide it with quoted prices and information to evaluate or adjust those prices. The fund
cannot predict how often it will use quoted prices and how often it will determine it necessary to adjust those prices to
reflect fair value. As a means of evaluating its security valuation process, the fund routinely compares quoted prices, the
next day’s opening prices in the same markets, and adjusted prices.

Actively traded equity securities listed on a domestic exchange generally are categorized in Level 1 of the fair value
hierarchy. Non-U.S. equity securities generally are categorized in Level 2 of the fair value hierarchy despite the
availability of quoted prices because, as described above, the fund evaluates and determines whether those quoted prices
reflect fair value at the close of the NYSE or require adjustment. OTC Bulletin Board securities, certain preferred
securities, and equity securities traded in inactive markets generally are categorized in Level 2 of the fair value
hierarchy.

Investments denominated in foreign currencies are translated into U.S. dollar values each day at the prevailing exchange
rate, using the mean of the bid and asked prices of such currencies against U.S. dollars as quoted by a major bank.

Investments in mutual funds are valued at the mutual fund’s closing NAV per share on the day of valuation and are
categorized in Level 1 of the fair value hierarchy.

Thinly traded financial instruments and those for which the above valuation procedures are inappropriate or are
deemed not to reflect fair value are stated at fair value as determined in good faith by the Valuation Committee. The
objective of any fair value pricing determination is to arrive at a price that could reasonably be expected from a current
sale. Financial instruments fair valued by the Valuation Committee are primarily private placements, restricted
securities, warrants, rights, and other securities that are not publicly traded.

Subject to oversight by the Board, the Valuation Committee regularly makes good faith judgments to establish and
adjust the fair valuations of certain securities as events occur and circumstances warrant. For instance, in determining
the fair value of an equity investment with limited market activity, such as a private placement or a thinly traded public
company stock, the Valuation Committee considers a variety of factors, which may include, but are not limited to, the
issuer’s business prospects, its financial standing and performance, recent investment transactions in the issuer, new
rounds of financing, negotiated transactions of significant size between other investors in the company, relevant market
valuations of peer companies, strategic events affecting the company, market liquidity for the issuer, and general
economic conditions and events. In consultation with the investment and pricing teams, the Valuation Committee will
determine an appropriate valuation technique based on available information, which may include both observable and
unobservable inputs. The Valuation Committee typically will afford greatest weight to actual prices in arm’s length
transactions, to the extent they represent orderly transactions between market participants; transaction information can
be reliably obtained; and prices are deemed representative of fair value. However, the Valuation Committee may also

T. ROWE PRICE SCIENCE & TECHNOLOGY FUND

consider other valuation methods such as market-based valuation multiples; a discount or premium from market value
of a similar, freely traded security of the same issuer; or some combination. Fair value determinations are reviewed on a
regular basis and updated as information becomes available, including actual purchase and sale transactions of the
issue. Because any fair value determination involves a significant amount of judgment, there is a degree of subjectivity
inherent in such pricing decisions, and fair value prices determined by the Valuation Committee could differ from
those of other market participants. Depending on the relative significance of unobservable inputs, including the
valuation technique(s) used, fair valued securities may be categorized in Level 2 or 3 of the fair value hierarchy.

The following table summarizes the fund’s financial instruments, based on the inputs used to determine their fair values
on March 31, 2019 (for further detail by category, please refer to the accompanying Portfolio of Investments):

($000s)		Level 1	Level 2	Level 3	Total Value
Assets
Common Stocks	$	4,196,860$	1,016,029$	10,047$	5,222,936
Convertible Preferred Stocks		—	—	68,971	68,971
Short-Term Investments		624,077	—	—	624,077
Securities Lending Collateral		113,820	—	—	113,820
Total	$	4,934,757$	1,016,029$	79,018$	6,029,804

Following is a reconciliation of the fund’s Level 3 holdings for the period ended March 31, 2019. Gain (loss) reflects
both realized and change in unrealized gain/loss on Level 3 holdings during the period, if any. The change in unrealized
gain/loss on Level 3 instruments held at March 31, 2019, totaled $1,441,000 for the period ended March 31, 2019.

($000 s)					Gain
			Beginning		(Loss)		Ending
			Balance		During		Balance
			1/1/19		Period		3/31/19
	Investment in Securities
	Common Stocks	$	10,047	$	–	$	10,047
	Convertible
	Preferred Stocks		67,530		1,441		68,971
	Total	$	77,577	$	1,441	$	79,018