The Fund Grade · free · no account needed
What grade does PRFDX get?
Morningstar rates funds on what they returned. We grade them on where their money sits today: how much of the book overlaps with the converged buys of the top specialist stock pickers.
Fundprints Fund Grade · as of 2026-10-01
T. Rowe Price Equity Income Fd
#437 of 500 graded active funds · value · large segment peer group
The point · specialist footprint
PRFDX sits mid pack for specialist backing among graded funds.
Bottom 20%
Bottom 40%
● Middle
Top 40%
Top 20%
The middle rungs sat between the extremes, and the pattern was monotonic: every step up in specialist backing came with better subsequent results. Not damning, not compelling. The fee decides whether it is worth it.
10,000+ funds tracked · the graded specialists among them drive every read
3 funds in the same segment carry an A. Members see the names and what they charge. See the alternatives →
The grade scores this fund's specialist share, the slice that overlaps what the top 1% of proven funds are building. We ignore index ballast and names outside our edge on purpose: that slice is small, and it's what decides the outcome.
PRFDX vs the Honor Roll · share card ↗Conviction exposure
22.8%
of the book in specialist-converged names
Late-stage weight
34.5%
of the book in Crowded or Fading names
Active share
86.1%
how far it strays from the index
The best grades have beaten the worst by about +5% a year since we began grading. The gap held in 9 out of 10 months. Measured on filings as they were published, no hindsight.
Inside the book: top names by stage · as of 2026-10-20
We email you the day it crosses 50% crowded, and where you stand every month.
Graded monthly from point-in-time filings. A description of where the money sits, not a recommendation. Evidence, not advice.
The read · what to do with it
PRFDX ranks 437 out of 500 graded funds, an F grade, with specialists backing only 22.8% of the portfolio. Five positions including GOOGL, BAC, IP, and BA are either crowded or seeing specialists exit. The early calls in JPM, Citigroup, and CF Industries are real, but they are not enough to offset the weight of late-stage holdings sitting at 34.5% of the fund.
→ Watch IP and BA closely, as specialists are actively leaving both positions, which signals weakening conviction.
→ Compare this fund against the three higher-graded peers in the same segment, given its F grade and concentrated late-stage exposure.
Support leaving these positions
Read from today's disclosed book. Evidence, not advice.