The Fund Grade · free · no account needed
What grade does PRWCX 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 Capital Appreciation
#176 of 500 graded active funds · growth · large segment peer group
The point · specialist footprint
PRWCX puts more of its book behind proven specialists than 74% of graded funds.
Bottom 20%
Bottom 40%
Middle
● Top 40%
Top 20%
That has mattered: over the past 2.7 years, funds on this rung beat bottom-rung funds by about 3.8% per quarter, and beat the S&P in 43% of fund-quarters versus their 22%. The evidence argues this fund earns its seat.
10,000+ funds tracked · the graded specialists among them drive every read
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.
PRWCX vs the Honor Roll · share card ↗Conviction exposure
40.7%
of the book in specialist-converged names
Late-stage weight
25.1%
of the book in Crowded or Fading names
Active share
84.5%
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
PRWCX earns a B grade with specialists making up about 41% of its ownership, which signals genuine conviction rather than index-hugging. Its biggest early-stage bets sit in AMZN, MSFT, and META, where proven specialists are still building. Watch the fading signals in NI, AVGO, AUR, and ASND, which together carry real weight in the portfolio.
→ Monitor NI, AVGO, AUR, and ASND closely, as specialists are actively leaving all four positions.
→ Note that AMZN, MSFT, and META are Early Conviction holdings, suggesting specialists see further upside ahead.
Support leaving these positions
Read from today's disclosed book. Evidence, not advice.