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      <invstOrSec>
        <name>ARGENX SE - ADR</name>
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        <name>ARSENAL BIOSCIENCES SER C CVT PFD PP</name>
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        <name>ASCENDIS PHARMA A/S - ADR</name>
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      <invstOrSec>
        <name>Cabaletta Bio Common WTS 09/26 PP</name>
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      <invstOrSec>
        <name>CABALETTA BIO INC</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>CARDINAL HEALTH INC</name>
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        <name>CELLANOME SERIES A CVT PFD STOCK PP</name>
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        <fairValLevel>1</fairValLevel>
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        <name>CENCORA INC</name>
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        <name>CENTENE CORP</name>
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        <name>CENTESSA PHARMACEUTICALS-ADR</name>
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        <name>NCHROMA BIO SER I CVT PFD STOCK PP</name>
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        <name>CHROMACODE INC PP</name>
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        <name>Chromacode INC SER AA CVT PFD STK PP</name>
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        <name>COLOR HEALTH SR D CVT PFD STOCK PP</name>
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      <invstOrSec>
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      <invstOrSec>
        <name>INSMED INC</name>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>INTUITIVE SURGICAL INC</name>
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      <invstOrSec>
        <name>IONIS PHARMACEUTICALS INC</name>
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        <name>IOVANCE BIOTHERAPEUTICS INC</name>
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        <fairValLevel>1</fairValLevel>
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        <name>IQVIA HOLDINGS INC</name>
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        <assetCat>EC</assetCat>
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        <name>JANUX THERAPEUTICS INC</name>
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        <assetCat>EC</assetCat>
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        <name>KARDIUM INC SER D-5 CVT PFD STOCK PP</name>
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        <fairValLevel>3</fairValLevel>
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        <name>Kardium Inc Series D-8 CVT PFD Stock PP</name>
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        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
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        <name>Kardium Inc Ser D-6 CVT Pfd Stock PP</name>
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        <name>KARTOS THERAPEUTICS SR C CVT PFD STK PP</name>
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        <name>Kartos Therapeutics SR D CVT PFD STK PP</name>
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        <name>KESTRA MEDICAL TECHNOLOGIES</name>
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        <name>KODIAK SCIENCES INC</name>
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        <name>KRYSTAL BIOTECH INC</name>
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        <name>KYMERA THERAPEUTICS INC</name>
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        <name>SAIL BIOMEDICINES SER B CVT PFD STOCK PP</name>
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        <name>Oruka Therapeutics, Inc. PIPE 09/25 PP</name>
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        <name>PRAXIS PRECISION MEDICINES I</name>
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        <name>Reflexion Med CVT Note issued 082725 PP</name>
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        <name>REFLEXION MEDICAL INC CVT PFD SR D-X PP</name>
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      <invstOrSec>
        <name>SCRIBE THERA SER B CVT PFD STOCK PP</name>
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      <invstOrSec>
        <name>SEAPORT THERAPEUTICS SER B CVT PFD PP</name>
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      <invstOrSec>
        <name>SENSORION SA</name>
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      <invstOrSec>
        <name>SIONNA THERAPEUTICS INC</name>
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      <invstOrSec>
        <name>SONOVA HOLDING AG-REG</name>
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        <name>Spyre Therapeutics Inc</name>
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        <name>STRUCTURE THERAPEUTICS INC ADR</name>
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        <name>STRYKER CORP</name>
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        <name>SUMMIT THERAPEUTICS INC</name>
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        <name>T. Rowe Price Government Reserve Fund</name>
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        <name>TENAX THERAPEUTICS PRE FUND WTS PIPE PP</name>
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        <curCd>USD</curCd>
        <valUSD>126516.890000</valUSD>
        <pctVal>0.0196319382</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TENAX THERAPEUTICS NEW WTS 8/29 PIPE PP</name>
        <lei>549300J03O6B1IJ2B606</lei>
        <title>Tenax Therapeutics, Inc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="TC9A9ADO5"/>
        </identifiers>
        <balance>53640.000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>60707.070000</valUSD>
        <pctVal>0.0094200659</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TESSERA THERAPEUTICS SER C' CVT PFD PP</name>
        <lei>N/A</lei>
        <title>Tessera Therapeutics, Inc. Series C</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="TC7M24T72"/>
        </identifiers>
        <balance>30439.000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>157674.020000</valUSD>
        <pctVal>0.0244666670</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ULTRAGENYX PHARMACEUTICAL INC</name>
        <lei>529900EV44GVDN1DCX77</lei>
        <title>ULTRAGENYX PHARMACEUTICAL INC</title>
        <cusip>90400D108</cusip>
        <identifiers>
          <isin value="US90400D1081"/>
        </identifiers>
        <balance>37932.000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1140994.560000</valUSD>
        <pctVal>0.1770509429</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNIQURE NV</name>
        <lei>724500RPCTZLFYJZ3S98</lei>
        <title>UNIQURE NV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NL0010696654"/>
        </identifiers>
        <balance>34066.000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1988432.420000</valUSD>
        <pctVal>0.3085499678</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNITED THERAPEUTICS CORP</name>
        <lei>5299005C4HZL4UWROC14</lei>
        <title>UNITED THERAPEUTICS CORP</title>
        <cusip>91307C102</cusip>
        <identifiers>
          <isin value="US91307C1027"/>
        </identifiers>
        <balance>11931.000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5001594.510000</valUSD>
        <pctVal>0.7761097685</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UNITEDHEALTH GROUP INC</name>
        <lei>549300GHBMY8T5GXDE41</lei>
        <title>UNITEDHEALTH GROUP INC</title>
        <cusip>91324P102</cusip>
        <identifiers>
          <isin value="US91324P1021"/>
        </identifiers>
        <balance>76751.000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>26502120.300000</valUSD>
        <pctVal>4.1123994378</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>UROGEN PHARMA LTD</name>
        <lei>549300C0YCX7CG2G5D50</lei>
        <title>UROGEN PHARMA LTD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IL0011407140"/>
        </identifiers>
        <balance>15700.000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>313215.000000</valUSD>
        <pctVal>0.0486023448</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VAXCYTE INC</name>
        <lei>254900M7NMHTGASX8D95</lei>
        <title>VAXCYTE INC</title>
        <cusip>92243G108</cusip>
        <identifiers>
          <isin value="US92243G1085"/>
        </identifiers>
        <balance>52865.000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1904197.300000</valUSD>
        <pctVal>0.2954789963</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VEEVA SYSTEMS INC CL A</name>
        <lei>549300YZEXPDB92M2F02</lei>
        <title>VEEVA SYSTEMS INC</title>
        <cusip>922475108</cusip>
        <identifiers>
          <isin value="US9224751084"/>
        </identifiers>
        <balance>11260.000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3354466.600000</valUSD>
        <pctVal>0.5205208641</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VERA THERAPEUTICS INC</name>
        <lei>N/A</lei>
        <title>VERA THERAPEUTICS INC</title>
        <cusip>92337R101</cusip>
        <identifiers>
          <isin value="US92337R1014"/>
        </identifiers>
        <balance>75300.000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2188218.000000</valUSD>
        <pctVal>0.3395511895</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VERASTEM INC</name>
        <lei>549300IY0EFBIU8NQC81</lei>
        <title>VERASTEM INC</title>
        <cusip>92337C203</cusip>
        <identifiers>
          <isin value="US92337C2035"/>
        </identifiers>
        <balance>26100.000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>230463.000000</valUSD>
        <pctVal>0.0357615127</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VERILY LIFE SCIENCES LLC SER B UNITS PP</name>
        <lei>5493003ZYK1Z7M670M44</lei>
        <title>VERILY LIFE SCIENCES LLC SER B UNITS PP</title>
        <cusip>000000000</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="TC4V69U94"/>
        </identifiers>
        <balance>5220.000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>172260.000000</valUSD>
        <pctVal>0.0267300095</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>3</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VERTEX PHARMACEUTICALS INC</name>
        <lei>54930015RAQRRZ5ZGJ91</lei>
        <title>VERTEX PHARMACEUTICALS INC</title>
        <cusip>92532F100</cusip>
        <identifiers>
          <isin value="US92532F1003"/>
        </identifiers>
        <balance>39689.000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15543799.960000</valUSD>
        <pctVal>2.4119698158</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VIRIDIAN THERAPEUTICS INC</name>
        <lei>549300C775BNYF550E70</lei>
        <title>VIRIDIAN THERAPEUTICS INC</title>
        <cusip>92790C104</cusip>
        <identifiers>
          <isin value="US92790C1045"/>
        </identifiers>
        <balance>29441.000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>635336.780000</valUSD>
        <pctVal>0.0985867767</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VOYAGER THERAPEUTICS INC</name>
        <lei>54930082S4XVR0ZWCC74</lei>
        <title>VOYAGER THERAPEUTICS INC</title>
        <cusip>92915B106</cusip>
        <identifiers>
          <isin value="US92915B1061"/>
        </identifiers>
        <balance>37011.000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>172841.370000</valUSD>
        <pctVal>0.0268202221</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WATERS CORP</name>
        <lei>5T547R1474YC9HOD8Q74</lei>
        <title>WATERS CORP</title>
        <cusip>941848103</cusip>
        <identifiers>
          <isin value="US9418481035"/>
        </identifiers>
        <balance>1100.000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>329791.000000</valUSD>
        <pctVal>0.0511744837</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WAVE LIFE SCIENCES LTD</name>
        <lei>54930070006GPKFYZ813</lei>
        <title>WAVE LIFE SCIENCES LTD</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="SG9999014716"/>
        </identifiers>
        <balance>51944.000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>380230.080000</valUSD>
        <pctVal>0.0590012403</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>XENCOR INC</name>
        <lei>549300V5IF65437JKG30</lei>
        <title>XENCOR INC</title>
        <cusip>98401F105</cusip>
        <identifiers>
          <isin value="US98401F1057"/>
        </identifiers>
        <balance>33300.000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>390609.000000</valUSD>
        <pctVal>0.0606117629</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ZAI LAB LTD ADR</name>
        <lei>549300P2UYQ9U5LY1T58</lei>
        <title>ZAI LAB LTD</title>
        <cusip>98887Q104</cusip>
        <identifiers>
          <isin value="US98887Q1040"/>
        </identifiers>
        <balance>44177.000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1497158.530000</valUSD>
        <pctVal>0.2323177854</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <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>2025-11-05</ncom:dateSigned>
      <ncom:nameOfApplicant>T. ROWE PRICE EQUITY SERIES, INC.</ncom:nameOfApplicant>
      <ncom:signature>/s/ Alan Dupski</ncom:signature>
      <ncom:signerName>Alan Dupski</ncom:signerName>
      <ncom:title>Treasurer &amp; Vice President</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
