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T. Rowe Owning Facebook Shares Bets This Will Be Different

T. Rowe Price Group Inc. has posted a profit every quarter since going public in 1986, in part because the firm sat out the dot-com boom in the 1990s and scaled back mortgage holdings before the housing collapse.

As Facebook Inc. prepares what may become the biggest IPO ever by an Internet company, the Baltimore-based asset manager is betting this time is different. T. Rowe holds the biggest stake of any mutual-fund company in Facebook, the world’s largest social-networking service. It is also among the main holders of Zynga Inc., Angie’s List Inc. and LinkedIn Corp., all public companies, and has put money into Twitter Inc. and LivingSocial.com, which are closely held.