David Giroux Achieves Third Outstanding Portfolio Manager Award in 2025 Morningstar Recognition

David Giroux: A Leader in Portfolio Management



In a remarkable testament to his expertise and dedication, David Giroux, a prominent portfolio manager at T. Rowe Price, has been recognized as the 2025 Morningstar Outstanding Portfolio Manager in the Allocation category. This prestigious accolade is not only a milestone in Giroux's illustrious career but also solidifies his reputation in the investment management community.

Giroux's achievements are further highlighted by the fact that this award marks his third victory in seven nominations. Having been honored previously in 2012 and 2017, Giroux has demonstrated unparalleled commitment to delivering outstanding results for his clients over his nearly two-decade tenure at T. Rowe Price. Since stepping into the role of portfolio manager for the Capital Appreciation Fund on June 30, 2006, he has established an impressive track record, consistently outperforming his peers.

The Capital Appreciation Fund, under Giroux's leadership, has maintained a remarkable 17-year streak of outperforming its peers in the Morningstar category, a record that few funds can boast. This achievement speaks volumes about his investment strategy and ability to navigate the complexities of the market effectively.

Words from the Team



Steph Jackson, Head of T. Rowe Price Investment Management, shared his admiration for Giroux, stating, "Those of us privileged to work alongside David have witnessed first-hand his passion, commitment, and dedication for both the investing profession and delivering the strongest outcomes possible for his clients. This award is well deserved and a wonderful reflection of David's intellect, talent, and remarkably consistent success over a long period of time."

In response to the accolade, Giroux expressed deep gratitude, emphasizing the collective effort of his team in achieving such a milestone. "Although this honor is bestowed on me, I share it with the organization and members of my team who work so diligently every day for our clients," he remarked. This statement underlines the collaborative nature of success in investment management, where the output is often the result of dedicated teamwork.

The Morningstar Awards



The Morningstar Awards for Investing Excellence celebrate portfolio managers and asset management firms that exhibit stellar investment acumen, a willingness to diverge from consensus for the benefit of investors, and a strong alignment of interests with their clients. Recipients of this award are determined through a rigorous research and qualitative evaluation process conducted by Morningstar’s Manager Research Group, ensuring that only the most deserving individuals and firms receive this honor.

Giroux's Capital Appreciation Fund invests primarily in a diversified portfolio of common and preferred stocks, as well as fixed income securities, to manage risk effectively while preserving principal value. Given its classification in Morningstar's Moderate Allocation category, the fund carries a 5-star rating overall, as well as for the three, five, and ten-year periods ending May 31, 2025, attesting to its sustained performance.

Giroux's Investment Legacy



David Giroux began his investment journey in 1998 as an associate analyst at T. Rowe Price. Over the years, he ascended through various positions, culminating in his current role, where he oversees a sizable asset management portfolio valued at approximately $98.3 billion, with $64.8 billion dedicated to the Capital Appreciation Fund alone.

In addition to managing the Capital Appreciation Fund, Giroux also oversees other funds within the T. Rowe Price umbrella, including the T. Rowe Price Capital Appreciation Equity ETF and the T. Rowe Price Capital Appreciation and Income Fund. His broad range of responsibilities showcases not only his versatility but also his capacity to lead diverse investment strategies.

Conclusion



As a leader at T. Rowe Price, David Giroux exemplifies excellence in investment management, consistently delivering strong results for his clients while navigating the complexities of the financial markets. His recent accolade further cements his legacy as a trusted authority in portfolio management—serving as inspiration for emerging managers and a testament to the power of perseverance, diligence, and strategic foresight in the world of investing.

Topics Financial Services & Investing)

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