TSCXX — T. Rowe Price Cash Reserves Fund
Data updated: 2026-01-13
TSCXX — T. Rowe Price Cash Reserves Fund. Money Market · 0.40% expense ratio. Holdings, fees, performance and SEC filings.
TSCXX Fund Overview
TSCXX — T. Rowe Price Cash Reserves Fund is a US mutual fund managed by T. Rowe Price Summit Funds, Inc., categorised as Money Market. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: T. Rowe Price Summit Funds, Inc.
- Category: Money Market
- Ticker: TSCXX
- SEC CIK: 0000912028
- SEC series ID: S000002151
- Share class ID: C000005547
TSCXX Investment Objective and Strategy
T. Rowe Price Cash Reserves Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by T. Rowe Price Summit Funds, Inc..
Investment objective
The fund seeks preservation of capital and liquidity and, consistent with these, the highest possible current income.
Principal investment strategy
The fund is a retail money market fund managed in compliance with Rule 2a-7 under the Investment Company Act of 1940, as amended (1940 Act). The securities purchased by the fund are subject to the maturity, quality, diversification, and other requirements of Rule 2a-7. All securities purchased by the fund present minimal credit risk in the opinion of T. Rowe Price. The fund is managed to provide a stable share price of $1.00 by investing in high-quality, U.S. dollar-denominated money market securities. Money market securities are generally high-quality, short-term obligations issued by companies or governmental entities. The funds weighted average maturity will not exceed 60 calendar days, the funds weighted average life will not exceed 120 calendar days, and the fund will not purchase any security with a remaining maturity longer than 397 calendar days (unless otherwise permitted by Rule 2a-7, such as certain variable and floating rate instruments).
When calculating its weighted average maturity, the fund may shorten its maturity by using the interest rate resets of certain adjustable rate securities. The fund may not take into account these resets when calculating its weighted average life. In addition to investing in money market securities issued by corporations and financial institutions, the fund may also invest in U.S. Treasury securities and other U.S. government securities, and repurchase agreements thereon; municipal money market securities issued by state and local governments; and money market securities issued by foreign companies and financial institutions, which include U.S. dollar-denominated money market securities traded outside of the U.S. and U.S. dollar-denominated money market securities of foreign issuers traded in the U.S.
There is no limit to the funds investments in U.S. dollar-denominated money market securities of foreign issuers. The fund may invest in repurchase agreements. A repurchase agreement is a contract under which the fund (buyer) purchases a security, usually a U.S. government or agency security, from a bank or well-established securities dealer (seller) that requires the seller to repurchase the securities from the fund at a specific price on a designated date (which is often the next business day). The fund may sell holdings for a variety of reasons, such as to adjust the portfolios average maturity or to shift assets into and out of higher-yielding securities. In accordance with the requirements for retail money market funds under Rule 2a-7, the fund has implemented policies and procedures designed to limit accounts to only those beneficially owned by natural persons.
The fund has also obtained assurances from its intermediaries that they have developed adequate procedures to limit accounts to only those beneficially owned by natural persons. Any new investors wishing to purchase shares will be required to demonstrate eligibility (for example, by providing their Social Security number). Pursuant to Rule 2a-7, if the funds weekly liquid assets fall below 30% of its total assets, the funds Board of Directors, in its discretion, may impose liquidity fees of up to 2% of the value of the shares redeemed or temporarily suspend redemptions from the fund for up to 10 business days during any 90day period (i.e., a redemption gate). In addition, if the funds weekly liquid assets fall below 10% of its total assets at the end of any business day, the fund must impose a 1% liquidity fee on shareholder redemptions unless the funds Board of Directors determines that not doing so is in the best interests of the fund.
Pursuant to Rule 2a-7, weekly liquid assets include cash, U.S. Treasuries, other government securities with remaining maturities of 60 days or less, or securities that mature or are subject to a demand feature within five business days.
TSCXX Holdings
Top 10 holdings of T. Rowe Price Cash Reserves Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Fixed Income Clearing Bnym Mortgage Repo 3.6700 20260901 | 12.52% |
| Credit Agricole Mortgage Repo 3.6700 20260901 | 7.07% |
| Bnp Paribas Paris Mortgage Repo 3.6700 20260901 | 2.00% |
| County Of Cook Il | 1.64% |
| California Public Finance Authority | 1.56% |
| Svenska Handelsbanken Ny Td 3.5900 20260901 | 1.40% |
| Aust & New Zealand Bank Td 3.6300 20260901 | 1.40% |
| Alaska Housing Finance Corp. | 1.28% |
| Royal Bank Of Canada Toronto Td 3.6000 20260901 | 1.28% |
| Private Colleges & Universities Authority | 1.05% |
TSCXX Costs and Fees
TSCXX costs about $40 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.40%
- Gross expense ratio: 0.40%
TSCXX Debt Constituents
No individual debt constituents are reported in T. Rowe Price Cash Reserves Fund's latest SEC N-PORT filing.
TSCXX Prospectus and SEC Filings
Official T. Rowe Price Cash Reserves Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
Related Funds
Other Money Market funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.