0000852254-23-000122.txt : 20230927 0000852254-23-000122.hdr.sgml : 20230927 20230927111316 ACCESSION NUMBER: 0000852254-23-000122 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20230731 FILED AS OF DATE: 20230927 DATE AS OF CHANGE: 20230927 PERIOD START: 20231031 FILER: COMPANY DATA: COMPANY CONFORMED NAME: T. Rowe Price Global Funds, Inc. CENTRAL INDEX KEY: 0000852254 IRS NUMBER: 000000000 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-05833 FILM NUMBER: 231282825 BUSINESS ADDRESS: STREET 1: 100 EAST PRATT STREET CITY: BALTIMORE STATE: MD ZIP: 21202 BUSINESS PHONE: 410-345-2000 MAIL ADDRESS: STREET 1: 100 EAST PRATT STREET CITY: BALTIMORE STATE: MD ZIP: 21202 FORMER COMPANY: FORMER CONFORMED NAME: T. Rowe Price Institutional International Funds, Inc. DATE OF NAME CHANGE: 20051028 FORMER COMPANY: FORMER CONFORMED NAME: T ROWE PRICE INSTITUTIONAL INTERNATIONAL FUNDS INC DATE OF NAME CHANGE: 20011217 FORMER COMPANY: FORMER CONFORMED NAME: INSTITUTIONAL INTERNATIONAL FUNDS INC DATE OF NAME CHANGE: 19920703 0000852254 S000029530 T. Rowe Price Institutional International Disciplined Equity Fund C000090615 T. Rowe Price Institutional International Disciplined Equity Fund RPICX NPORT-P 1 primary_doc.xml NPORT-P false 0000852254 XXXXXXXX S000029530 C000090615 T. ROWE PRICE GLOBAL FUNDS, INC. 811-05833 0000852254 5493007HG7742XS78J80 100 East Pratt Street Baltimore 21202 410-345-2000 T. Rowe Price Institutional International Disciplined Equity Fund S000029530 7D4X82TRE4PUE27U6W16 2023-10-31 2023-07-31 N 210238839.070000 1115010.940000 209123828.130000 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 0.000000 80251.660000 USD N BHP Group Ltd WZE1WSENV6JSZFK0JC28 BHP GROUP LTD 000000000 97760.000000 NS 3045419.560000 1.4562757325 Long EC CORP AU N 2 N N N HSBC Holdings PLC MLU0ZO3ML4LN2LL2TL39 HSBC HOLDINGS PLC 000000000 386819.000000 NS 3213080.680000 1.5364488632 Long EC CORP GB N 2 N N N Taylor Wimpey PLC 21380089BTRXTD8S3R66 TAYLOR WIMPEY PLC 000000000 1146705.000000 NS 1683203.230000 0.8048835205 Long EC CORP GB N 2 N N N Smith & Nephew PLC 213800ZTMDN8S67S1H61 SMITH & NEPHEW PLC 000000000 204983.000000 NS 3118408.340000 1.4911779150 Long EC CORP GB N 2 N N N Mainstreet Equity Corp 984500FB1BA3F6U3DB35 MAINSTREET EQUITY CORP 000000000 27302.000000 NS 2880618.250000 1.3774701218 Long EC CORP CA N 2 N N N Power Corp of Canada 549300BE2CB8T87IJV50 POWER CORP OF CANADA 000000000 90900.000000 NS 2575379.370000 1.2315092895 Long EC CORP CA N 2 N N N HAL Trust 5493000O3IE3DNOY3R07 HAL TRUST 000000000 25044.000000 NS 3120273.480000 1.4920697980 Long EC CORP BM N 2 N N N L E Lundbergforetagen AB 529900BPSFZS6O3A9R04 L E LUNDBERGFORETAGEN AB 000000000 71896.000000 NS 3168416.920000 1.5150912970 Long EC CORP SE N 2 N N N Continental AG 529900A7YD9C0LLXM621 CONTINENTAL AG 000000000 31610.000000 NS 2523730.440000 1.2068115157 Long EC CORP DE N 2 N N N Schneider Electric SE 969500A1YF1XUYYXS284 SCHNEIDER ELECTRIC SE 000000000 10586.000000 NS 1888247.130000 0.9029325577 Long EC CORP FR N 2 N N N Storebrand ASA 5967007LIEEXZX7NA051 STOREBRAND ASA 000000000 345826.000000 NS 3022871.280000 1.4454934701 Long EC CORP NO N 2 N N N Bayer AG 549300J4U55H3WP1XT59 BAYER AG 000000000 55900.000000 NS 3269224.540000 1.5632960477 Long EC CORP DE N 2 N N N Henkel AG & Co KGaA 549300VZCL1HTH4O4Y49 HENKEL AG & CO KGAA 000000000 35204.000000 NS 2716564.240000 1.2990218591 Long EP CORP DE N 2 N N N BASF SE 529900PM64WH8AF1E917 BASF SE 000000000 49782.000000 NS 2668863.620000 1.2762121102 Long EC CORP DE N 2 N N N Barry Callebaut AG 213800Y5RWKLDPUTT265 BARRY CALLEBAUT AG 000000000 1785.000000 NS 3346877.510000 1.6004285786 Long EC CORP CH N 2 N N N Volkswagen AG 529900NNUPAGGOMPXZ31 VOLKSWAGEN AG 000000000 20253.000000 NS 2683028.660000 1.2829856282 Long EP CORP DE N 2 N N N Fortum Oyj 635400IUIZZIUJSAMF76 FORTUM OYJ 000000000 229535.000000 NS 3107273.020000 1.4858531655 Long EC CORP FI N 2 N N N Sanofi 549300E9PC51EN656011 SANOFI 000000000 31239.000000 NS 3332718.910000 1.5936581402 Long EC CORP FR N 2 N N N Siemens AG W38RGI023J3WT1HWRP32 SIEMENS AG 000000000 19787.000000 NS 3372540.290000 1.6127001500 Long EC CORP DE N 2 N N N Koninklijke Philips NV H1FJE8H61JGM1JSGM897 KONINKLIJKE PHILIPS NV 000000000 130257.000000 NS 2705911.170000 1.2939277146 Long EC CORP NL N 2 N N N Hoya Corp 353800X4VR3BHEUCJB42 HOYA CORP 000000000 17900.000000 NS 2084623.490000 0.9968369022 Long EC CORP JP N 2 N N N Jardine Matheson Holdings Ltd 2138009KENVUNWOLPK41 JARDINE MATHESON HOLDINGS LTD 000000000 67600.000000 NS USD 3339131.490000 1.5967245435 Long EC CORP BM N 2 N N N Kao Corp 353800HM38HFCB8RGL63 KAO CORP 000000000 76300.000000 NS 2898759.350000 1.3861449343 Long EC CORP JP N 2 N N N Kirin Holdings Co Ltd 353800GBVL72LLMTYM96 KIRIN HOLDINGS CO LTD 000000000 190200.000000 NS 2809338.060000 1.3433849625 Long EC CORP JP N 2 N N N Mitsubishi Electric Corp 549300TRXM9Y6561AX39 MITSUBISHI ELECTRIC CORP 000000000 149100.000000 NS 2151681.840000 1.0289032384 Long EC CORP JP N 2 N N N Nippon Sanso Holdings Corp 353800F1K6653B4VPY57 NIPPON SANSO HOLDINGS CORP 000000000 91500.000000 NS 2212593.850000 1.0580304836 Long EC CORP JP N 2 N N N Nippon Telegraph & Telephone Corp 353800VHQU5VIXVUA841 NIPPON TELEGRAPH & TELEPHONE CORP 000000000 1546600.000000 NS 1773515.270000 0.8480694361 Long EC CORP JP N 2 N N N Olympus Corp 5299000Y52IFDI1I2A21 OLYMPUS CORP 000000000 179300.000000 NS 2925626.140000 1.3989922460 Long EC CORP JP N 2 N N N Shimadzu Corp N/A SHIMADZU CORP 000000000 89600.000000 NS 2721226.420000 1.3012512464 Long EC CORP JP N 2 N N N Shimano Inc 529900L32YT3P9DECR10 SHIMANO INC 000000000 18300.000000 NS 2758307.430000 1.3189828508 Long EC CORP JP N 2 N N N Sony Group Corp 529900R5WX9N2OI2N910 SONY GROUP CORP 000000000 26400.000000 NS 2472788.860000 1.1824519865 Long EC CORP JP N 2 N N N Tokyo Electron Ltd 549300H5LSF8DP3RIJ34 TOKYO ELECTRON LTD 000000000 17500.000000 NS 2626523.650000 1.2559657469 Long EC CORP JP N 2 N N N Groupe Bruxelles Lambert NV 549300KV0ZEHT2KVU152 GROUPE BRUXELLES LAMBERT NV 000000000 57800.000000 NS 4676732.920000 2.2363462652 Long EC CORP BE N 2 N N N Novartis AG 5493007HIVTX6SY6XD66 NOVARTIS AG 000000000 31509.000000 NS 3298904.630000 1.5774886389 Long EC CORP CH N 2 N N N Roche Holding AG 549300U41AUUVOAAOB37 ROCHE HOLDING AG 000000000 14267.000000 NS 4423504.270000 2.1152559752 Long EC CORP CH N 2 N N N Nestle SA KY37LUS27QQX7BB93L28 NESTLE SA 000000000 39025.000000 NS 4781312.330000 2.2863546315 Long EC CORP CH N 2 N N N EssilorLuxottica SA 549300M3VH1A3ER1TB49 ESSILORLUXOTTICA SA 000000000 15734.000000 NS 3165291.480000 1.5135967567 Long EC CORP FR N 2 N N N Wendel SE 969500M98ZMIZYJD5O34 WENDEL SE 000000000 29532.000000 NS 2915237.890000 1.3940247346 Long EC CORP FR N 2 N N N T Rowe Price Government Reserve Investment Fund 5493007QR86JJLYO6D96 T ROWE PRICE GOVERNMENT RESERVE INVESTMENT FUND 76105Y109 8640951.580000 NS USD 8640951.580000 4.1319784824 Long STIV RF US N 1 N N N T Rowe Price Government Reserve Investment Fund 5493007QR86JJLYO6D96 T ROWE PRICE GOVERNMENT RESERVE INVESTMENT FUND - Collateral 76105YYY8 44296.400000 NS USD 44296.400000 0.0211818999 Long STIV RF US N 1 N N Heineken NV 724500K5PTPSST86UQ23 HEINEKEN NV 000000000 30276.000000 NS 2963459.650000 1.4170836851 Long EC CORP NL N 2 N N N Sprott Physical Gold and Silver Trust N/A SPROTT PHYSICAL GOLD AND SILVER TRUST 85208R101 138028.000000 NS USD 2581123.600000 1.2342560975 Long EC RF CA N 1 N N N Ayala Corp 254900QJ68UH8GKNGI69 AYALA CORP 000000000 249820.000000 NS 2800067.780000 1.3389520482 Long EC CORP PH N 2 N N N TotalEnergies SE 529900S21EQ1BO4ESM68 TOTALENERGIES SE 000000000 59871.000000 NS 3637553.790000 1.7394257854 Long EC CORP FR N 2 N N N Experian PLC 635400RXXHHYT1JTSZ26 EXPERIAN PLC 000000000 61161.000000 NS 2363602.640000 1.1302407101 Long EC CORP JE N 2 N N N Mondi PLC 213800LOZA69QFDC9N34 MONDI PLC 000000000 136429.000000 NS 2393046.440000 1.1443203108 Long EC CORP GB N 2 N N N Orkla ASA 549300PZS8G8RG6RVZ52 ORKLA ASA 000000000 309459.000000 NS 2441886.690000 1.1676750143 Long EC CORP NO N 2 N N N Industrivarden AB 549300TM1DLIQI3B3T37 INDUSTRIVARDEN AB 000000000 113090.000000 NS 3203929.140000 1.5320727287 Long EC CORP SE N 2 N N N Anglo American PLC 549300S9XF92D1X8ME43 ANGLO AMERICAN PLC 000000000 102751.000000 NS 3159776.910000 1.5109597688 Long EC CORP GB N 2 N N N Iberdrola SA 5QK37QC7NWOJ8D7WVQ45 IBERDROLA SA 000000000 161184.946000 NS 2011834.980000 0.9620304860 Long EC CORP ES N 2 N N Hoshizaki Corp 5299001QAMLGU3SRBG20 HOSHIZAKI CORP 000000000 68500.000000 NS 2627036.810000 1.2562111327 Long EC CORP JP N 2 N N N Amadeus IT Group SA 9598004A3FTY3TEHHN09 AMADEUS IT GROUP SA 000000000 39964.000000 NS 2866862.430000 1.3708922869 Long EC CORP ES N 2 N N N Tricon Residential Inc 984500EFFDE9C3A9G721 TRICON RESIDENTIAL INC 000000000 176570.000000 NS 1649673.830000 0.7888502447 Long EC CORP CA N 2 N N N Otsuka Holdings Co Ltd N/A OTSUKA HOLDINGS CO LTD 000000000 76100.000000 NS 2797993.220000 1.3379600235 Long EC CORP JP N 2 N N N Novozymes A/S 529900T6WNZXD2R3JW38 NOVOZYMES A/S 000000000 58176.000000 NS 2917719.900000 1.3952115960 Long EC CORP DK N 2 N N N ASML Holding NV 724500Y6DUVHQD6OXN27 ASML HOLDING NV 000000000 5059.000000 NS 3623603.920000 1.7327551587 Long EC CORP NL N 2 N N N Suntory Beverage & Food Ltd 549300FONLMVK7YYYH41 SUNTORY BEVERAGE & FOOD LTD 000000000 67000.000000 NS 2384999.930000 1.1404725857 Long EC CORP JP N 2 N N N Cie Financiere Richemont SA 549300YIPGJ6UX2QPS51 CIE FINANCIERE RICHEMONT SA 000000000 20664.000000 NS 3327583.820000 1.5912026141 Long EC CORP CH N 2 N N N Redeia Corp SA 5493009HMD0C90GUV498 REDEIA CORP SA 000000000 157437.000000 NS 2633237.940000 1.2591764236 Long EC CORP ES N 2 N N N National Grid PLC 8R95QZMKZLJX5Q2XR704 NATIONAL GRID PLC 000000000 153141.000000 NS 2029858.020000 0.9706488439 Long EC CORP GB N 2 N N N Great Portland Estates PLC 213800JMEDD2Q4N1MC42 GREAT PORTLAND ESTATES PLC 000000000 359146.000000 NS 1970803.350000 0.9424097520 Long EC CORP GB N 2 N N N Unilever PLC 549300MKFYEKVRWML317 UNILEVER PLC 000000000 61224.000000 NS 3295555.220000 1.5758869993 Long EC CORP GB N 2 N N N ACEN Corp 549300LGUZQ61GQQXQ60 ACEN CORP 000000000 1081500.000000 NS 102805.970000 0.0491603329 Long EC CORP PH N 2 N N N EXOR NV 5493002ENHZ6NYET7405 EXOR NV 000000000 32996.000000 NS 3083328.980000 1.4744034707 Long EC CORP NL N 2 N N N Investor AB 549300VEBQPHRZBKUX38 INVESTOR AB 000000000 163382.000000 NS 3336912.160000 1.5956632919 Long EC CORP SE N 2 N N N GSK PLC 5493000HZTVUYLO1D793 GSK PLC 000000000 181105.000000 NS 3223881.640000 1.5416137266 Long EC CORP GB N 2 N N N Euronext NV 724500QJ4QSZ3H9QU415 EURONEXT NV 000000000 51578.000000 NS 3925792.570000 1.8772574150 Long EC CORP NL N 2 N N N Eurofins Scientific SE 529900JEHFM47DYY3S57 EUROFINS SCIENTIFIC SE 000000000 40359.000000 NS 2775754.530000 1.3273258025 Long EC CORP LU N 2 N N N Shell PLC 21380068P1DRHMJ8KU70 SHELL PLC 000000000 110824.000000 NS 3358828.870000 1.6061435466 Long EC CORP GB N 2 N N N DSM-Firmenich AG 506700G44V67MPM4BI12 DSM-FIRMENICH AG 000000000 17078.000000 NS 1882493.000000 0.9001810156 Long EC CORP CH N 2 N N N Brookfield Corp C6J3FGIWG6MBDGTE8F80 BROOKFIELD CORP 000000000 66700.000000 NS 2328291.060000 1.1133552216 Long EC CORP CA N 2 N N N CK Hutchison Holdings Ltd 254900Z8HM1VEPOQ2G79 CK HUTCHISON HOLDINGS LTD 000000000 470692.000000 NS 2902912.810000 1.3881310590 Long EC CORP KY N 2 N N N 2023-08-29 T. ROWE PRICE GLOBAL FUNDS, INC. /s/ Alan Dupski Alan Dupski Treasurer & Vice President XXXX NPORT-EX 2 70AQTRP073123.htm T. ROWE PRICE GLOBAL FUNDS, INC.
T.
ROWE
PRICE
Institutional
International
Disciplined
Equity
Fund
July
31,
2023
(Unaudited)
1
Portfolio
of
Investments
Shares
$
Value
(
Cost
and
value
in
$000s)
AUSTRALIA
1.5%
Common
Stocks
1.5%
BHP
Group
(GBP) 
97,760‌
3,045‌
Total
Australia
(Cost
$1,268
)
3,045‌
BELGIUM
2.2%
Common
Stocks
2.2%
Groupe
Bruxelles
Lambert 
57,800‌
4,677‌
Total
Belgium
(Cost
$4,525
)
4,677‌
CANADA
5.5%
Common
Stocks
5.5%
Brookfield 
66,700‌
2,328‌
Mainstreet
Equity (1)
27,102‌
2,860‌
Power
Corp.
of
Canada 
90,900‌
2,575‌
Sprott
Physical
Gold
&
Silver
Trust
(USD) (1)
127,928‌
2,392‌
Tricon
Residential 
151,870‌
1,419‌
Total
Canada
(Cost
$9,636
)
11,574‌
DENMARK
1.4%
Common
Stocks
1.4%
Novozymes,
Class
58,176‌
2,918‌
Total
Denmark
(Cost
$2,997
)
2,918‌
FINLAND
1.5%
Common
Stocks
1.5%
Fortum 
229,535‌
3,107‌
Total
Finland
(Cost
$3,151
)
3,107‌
FRANCE
10.3%
Common
Stocks
10.3%
EssilorLuxottica 
15,527‌
3,124‌
Eurofins
Scientific 
39,157‌
2,693‌
Euronext 
51,578‌
3,926‌
Sanofi 
31,044‌
3,312‌
Schneider
Electric 
10,586‌
1,888‌
TotalEnergies 
58,501‌
3,554‌
Wendel 
30,462‌
3,007‌
Total
France
(Cost
$16,842
)
21,504‌
GERMANY
8.2%
Common
Stocks
5.6%
BASF 
49,782‌
2,669‌
Bayer 
53,047‌
3,102‌
Continental 
31,610‌
2,524‌
Shares
$
Value
(Cost
and
value
in
$000s)
Siemens 
19,787‌
3,373‌
11,668‌
Preferred
Stocks
2.6%
Henkel 
36,275‌
2,799‌
Volkswagen 
20,410‌
2,704‌
5,503‌
Total
Germany
(Cost
$14,188
)
17,171‌
HONG
KONG
3.0%
Common
Stocks
3.0%
CK
Hutchison
Holdings 
470,692‌
2,903‌
Jardine
Matheson
Holdings
(USD) 
67,600‌
3,339‌
Total
Hong
Kong
(Cost
$6,284
)
6,242‌
JAPAN
16.9%
Common
Stocks
16.9%
Hoshizaki 
68,500‌
2,627‌
Hoya 
17,900‌
2,085‌
Kao 
76,300‌
2,899‌
Kirin
Holdings 
190,200‌
2,809‌
Mitsubishi
Electric 
150,500‌
2,172‌
Nippon
Sanso
Holdings 
91,500‌
2,213‌
Nippon
Telegraph
&
Telephone 
1,546,600‌
1,773‌
Olympus 
180,600‌
2,947‌
Otsuka
Holdings 
76,100‌
2,798‌
Shimadzu 
89,600‌
2,721‌
Shimano 
18,600‌
2,804‌
Sony
Group 
26,400‌
2,473‌
Suntory
Beverage
&
Food 
67,600‌
2,406‌
Tokyo
Electron 
17,500‌
2,626‌
Total
Japan
(Cost
$30,919
)
35,353‌
NETHERLANDS
8.4%
Common
Stocks
8.4%
ASML
Holding 
5,059‌
3,624‌
DSM-Firmenich 
17,829‌
1,965‌
EXOR 
32,996‌
3,084‌
HAL
Trust 
25,044‌
3,120‌
Heineken 
31,744‌
3,107‌
Koninklijke
Philips (1)
130,257‌
2,706‌
Total
Netherlands
(Cost
$13,266
)
17,606‌
NORWAY
2.6%
Common
Stocks
2.6%
Orkla 
309,459‌
2,442‌
Storebrand 
345,826‌
3,023‌
Total
Norway
(Cost
$4,989
)
5,465‌
T.
ROWE
PRICE
Institutional
International
Disciplined
Equity
Fund
2
Shares
$
Value
(Cost
and
value
in
$000s)
PHILIPPINES
1.4%
Common
Stocks
1.4%
ACEN (1)
1,081,500‌
103‌
Ayala 
249,820‌
2,800‌
Total
Philippines
(Cost
$3,664
)
2,903‌
SPAIN
3.7%
Common
Stocks
3.7%
Amadeus
IT
Group,
Class
42,309‌
3,035‌
Iberdrola (2)
161,185‌
2,012‌
Redeia 
157,437‌
2,633‌
Total
Spain
(Cost
$6,385
)
7,680‌
SWEDEN
4.7%
Common
Stocks
4.7%
Industrivarden,
Class
113,090‌
3,204‌
Investor,
Class
163,382‌
3,337‌
L
E
Lundbergforetagen,
Class
71,896‌
3,168‌
Total
Sweden
(Cost
$7,076
)
9,709‌
SWITZERLAND
9.1%
Common
Stocks
9.1%
Barry
Callebaut 
1,785‌
3,347‌
Cie
Financiere
Richemont 
20,664‌
3,328‌
Nestle 
39,025‌
4,781‌
Novartis 
30,712‌
3,215‌
Roche
Holding 
14,267‌
4,424‌
Total
Switzerland
(Cost
$13,998
)
19,095‌
UNITED
KINGDOM
14.3%
Common
Stocks
14.3%
Anglo
American 
102,751‌
3,160‌
Shares
$
Value
(Cost
and
value
in
$000s)
Experian 
61,161‌
2,364‌
Great
Portland
Estates 
359,146‌
1,971‌
GSK 
181,105‌
3,224‌
HSBC
Holdings 
386,819‌
3,213‌
Mondi 
136,429‌
2,393‌
National
Grid 
153,141‌
2,030‌
Shell 
114,289‌
3,464‌
Smith
&
Nephew 
204,983‌
3,118‌
Taylor
Wimpey 
1,146,705‌
1,683‌
Unilever
(EUR) 
61,224‌
3,295‌
Total
United
Kingdom
(Cost
$27,107
)
29,915‌
SHORT-TERM
INVESTMENTS
4.1%
Money
Market
Funds
4.1%
T.
Rowe
Price
Government
Reserve
Fund,
5.32% (3)(4)
8,672,920‌
8,673‌
Total
Short-Term
Investments
(Cost
$8,673)
8,673‌
SECURITIES
LENDING
COLLATERAL
0.0%
INVESTMENTS
IN
A
POOLED
ACCOUNT
THROUGH
SECURITIES
LENDING
PROGRAM
WITH
JPMORGAN
CHASE
BANK
0.0%
Money
Market
Funds
0.0%
T.
Rowe
Price
Government
Reserve
Fund,
5.32% (3)(4)
44,296‌
44‌
Total
Investments
in
a
Pooled
Account
through
Securities
Lending
Program
with
JPMorgan
Chase
Bank
44‌
Total
Securities
Lending
Collateral
(Cost
$44)
44‌
Total
Investments
in
Securities
98.8%
(Cost
$175,012)
$
206,681‌
Other
Assets
Less
Liabilities
1.2%
2,614
Net
Assets
100.0%
$
209,295‌
Country
classifications
are
generally
based
on
MSCI
categories
or
another
unaffiliated
third
party
data
provider;
Shares
are
denominated
in
the
currency
of
the
country
presented
unless
otherwise
noted.
(1)
Non-income
producing
(2)
All
or
a
portion
of
this
security
is
on
loan
at
July
31,
2023.
(3)
Seven-day
yield
(4)
Affiliated
Companies
EUR
Euro
GBP
British
Pound
USD
U.S.
Dollar
T.
ROWE
PRICE
Institutional
International
Disciplined
Equity
Fund
3
The
accompanying
notes
are
an
integral
part
of
this
Portfolio
of
Investments.
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
nine
months
ended
July
31,
2023.
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.
Affiliate
Net
Realized
Gain
(Loss)
Change
in
Net
Unrealized
Gain/Loss
Investment
Income
T.
Rowe
Price
Government
Reserve
Fund,
5.32%
$
—‌
$
—‌
$
330‌++
Totals
$
—‌#
$
—‌
$
330‌+
Supplementary
Investment
Schedule
Affiliate
Value
10/31/22
Purchase
Cost
Sales
Cost
Value
07/31/23
T.
Rowe
Price
Government
Reserve
Fund,
5.32%
$
16,332‌
 ¤
 ¤
$
8,717‌
Total
$
8,717‌^
#
Capital
gain
distributions
from
underlying
Price
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
$330
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
$8,717.
T.
ROWE
PRICE
Institutional
International
Disciplined
Equity
Fund
Unaudited
4
Notes
to
Portfolio
of
Investments
T.
Rowe
Price
Institutional
International
Disciplined
Equity
Fund (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 
Fair
Value
  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,
and
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 fund’s
Board
of
Directors
(the
Board)
has
designated
T.
Rowe
Price
Associates,
Inc.
as
the
fund’s
valuation
designee
(Valuation
Designee).
Subject
to
oversight
by
the
Board,
the
Valuation
Designee
performs
the
following
functions
in
performing
fair
value
determinations:
assesses
and
manages
valuation
risks;
establishes
and
applies
fair
value
methodologies;
tests
fair
value
methodologies;
and
evaluates
pricing
vendors
and
pricing
agents.
The
duties
and
responsibilities
of
the
Valuation
Designee
are
performed
by
its
Valuation
Committee. The
Valuation
Designee provides
periodic
reporting
to
the
Board
on
valuation
matters.
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
(including
the Valuation
Designee’s assumptions
in
determining
fair
value)
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.
Valuation
Techniques 
Equity
securities,
including
exchange-traded
funds, 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.
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 Valuation
Designee
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.
Each
business
day,
the
Valuation
Designee uses
information
from
outside
pricing
services
to
evaluate
the
quoted
prices
of
portfolio
securities
and,
if
appropriate,
decide whether
it
is
necessary
to
adjust
quoted
prices
to
reflect
fair
value
by
reviewing
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 Valuation
Designee
uses
outside
pricing
services
to
provide
it
with
quoted
prices
and
information
to
evaluate
or
adjust
those
prices.
The Valuation
T.
ROWE
PRICE
Institutional
International
Disciplined
Equity
Fund
5
Designee
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.
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
provided
by
an
outside
pricing
service.
Investments
in
mutual
funds
are
valued
at
the
mutual
fund’s
closing
NAV
per
share
on
the
day
of
valuation.
Investments
for
which
market
quotations are
not
readily
available
or
deemed
unreliable
are
valued
at
fair
value
as
determined
in
good
faith
by
the
Valuation
Designee.
The
Valuation
Designee
has
adopted
methodologies
for
determining
the
fair
value
of
investments
for
which
market
quotations
are
not
readily
available
or
deemed
unreliable,
including
the
use
of
other
pricing
sources.
Factors
used
in
determining
fair
value
vary
by
type
of
investment
and
may
include
market
or
investment
specific
considerations.
The
Valuation
Designee 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
Designee may
also
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;
discounted
cash
flows;
yield
to
maturity;
or
some
combination.
Fair
value
determinations
are
reviewed
on
a
regular
basis.
Because
any
fair
value
determination
involves
a
significant
amount
of
judgment,
there
is
a
degree
of
subjectivity
inherent
in
such
pricing
decisions. Fair
value
prices
determined
by
the
Valuation
Designee could
differ
from
those
of
other
market
participants,
and
it
is
possible
that
the
fair
value
determined
for
a
security
may
be
materially
different
from
the
value
that
could
be
realized
upon
the
sale
of
that
security.
Valuation
Inputs
  The
following
table
summarizes
the
fund’s
financial
instruments,
based
on
the
inputs
used
to
determine
their
fair
values
on
July
31,
2023
(for
further
detail
by
category,
please
refer
to
the
accompanying
Portfolio
of
Investments):
OTHER
MATTERS 
Unpredictable
events
such
as
environmental
or
natural
disasters,
war,
terrorism,
pandemics,
outbreaks
of
infectious
diseases,
and
similar
public
health
threats
may
significantly
affect
the
economy
and
the
markets
and
issuers
in
which
the fund
invests.
Certain
events
may
cause
instability
across
global
markets,
including
reduced
liquidity
and
disruptions
in
trading
markets,
while
some
events
may
affect
certain
geographic
regions,
countries,
sectors,
and
industries
more
significantly
than
others,
and
exacerbate
other
pre-existing
political,
social,
and
economic
risks.
Since
2020,
a
novel
strain
of
coronavirus
(COVID-19)
has
resulted
in
disruptions
to
global
business
activity
and
caused
significant
volatility
and
declines
in
global
financial
markets.
In
February
2022,
Russian
forces
entered
Ukraine
and
commenced
an
armed
conflict
leading
to
economic
sanctions
being
imposed
on
Russia
and
certain
of
its
citizens,
creating
impacts
on
Russian-related
stocks
and
debt
and
greater
volatility
in
global
markets.
In
March
2023,
the
collapse
of
some
US
regional
and
global
banks
as
well
as
overall
concerns
around
the
soundness
and
stability
of
the
global
banking
sector
has
sparked
concerns
of
a
broader
financial
crisis
impacting
the
overall
global
banking
sector.
In
certain
cases,
government
agencies
have
assumed
control
or
otherwise
intervened
in
the
operations
of
certain
banks
due
to
liquidity
and
solvency
concerns.
The
extent
of
impact
of
these
events
on
the
US
and
global
markets
is
highly
uncertain.
($000s)
Level
1
Level
2
Level
3
Total
Value
Assets
Common
Stocks
$
2,392‌
$
190,069‌
$
—‌
$
192,461‌
Preferred
Stocks
—‌
5,503‌
—‌
5,503‌
Short-Term
Investments
8,673‌
—‌
—‌
8,673‌
Securities
Lending
Collateral
44‌
—‌
—‌
44‌
Total
$
11,109‌
$
195,572‌
$
—‌
$
206,681‌
T.
ROWE
PRICE
Institutional
International
Disciplined
Equity
Fund
6
These
are
recent
examples
of
global
events
which
may
have
a
negative
impact
on
the
values
of
certain
portfolio
holdings
or
the
fund’s
overall
performance.
Management
is
actively
monitoring
the
risks
and
financial
impacts
arising
from
these
events.
E177-054Q3
07/23