# EDGAR Filing Document

**Accession Number:** 0000906185
**File Stem:** 0001193125-25-301787
**Filing Date:** 2025-11
**Character Count:** 78594
**Document Hash:** e9a73d51ffd31fc24f8b600b391a9ede
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-301787.hdr.sgml**: 20251128

**ACCESSION NUMBER**: 0001193125-25-301787

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251128

**DATE AS OF CHANGE**: 20251128

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** JANUS ASPEN SERIES
- **CENTRAL INDEX KEY:** 0000906185

**ORGANIZATION NAME:**
- **EIN:** 841235540
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07736
- **FILM NUMBER:** 251534191

**BUSINESS ADDRESS:**
- **STREET 1:** 151 DETROIT STREET
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80206
- **BUSINESS PHONE:** 3033333863

**MAIL ADDRESS:**
- **STREET 1:** 151 DETROIT STREET
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80206

## Series and Classes Contracts Data

### Janus Henderson Enterprise Portfolio (Series ID: S000010396)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000028720 | Service Shares       |  |
| C000028721 | Institutional Shares | JAAGX           |

## Nport-Ex

**Janus Henderson VIT Enterprise Portfolio**

**Schedule of Investments (unaudited)**

**September 30, 2025**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | |
|:---|:---|:---|
|  | *Shares* | *Value* |
| Common Stocks – 97.2% |  |  |
| Aerospace & Defense – 0.6% |  |  |
| &nbsp;&nbsp;&nbsp; Standardaero Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 414893 | &nbsp;&nbsp;&nbsp;&nbsp; $11322430 |
| Airlines – 1.1% |  |  |
| &nbsp;&nbsp;&nbsp; Ryanair Holdings PLC | &nbsp;&nbsp;&nbsp;&nbsp; 160320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4689520 |
| &nbsp;&nbsp;&nbsp; Ryanair Holdings PLC (ADR) | &nbsp;&nbsp;&nbsp;&nbsp; 268905 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16193459 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20882979 |
| Biotechnology – 3.0% |  |  |
| &nbsp;&nbsp;&nbsp; Argenx SE (ADR)<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25538 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18835807 |
| &nbsp;&nbsp;&nbsp; Ascendis Pharma A/S (ADR)<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 76622 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15233220 |
| &nbsp;&nbsp;&nbsp; Avidity Biosciences Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 129229 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5630508 |
| &nbsp;&nbsp;&nbsp; Revolution Medicines Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 162179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7573759 |
| &nbsp;&nbsp;&nbsp; Vaxcyte Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 202361 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7289043 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 54562337 |
| Capital Markets – 3.6% |  |  |
| &nbsp;&nbsp;&nbsp; Cboe Global Markets Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 51015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12511429 |
| &nbsp;&nbsp;&nbsp; Charles Schwab Corp | &nbsp;&nbsp;&nbsp;&nbsp; 163679 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15626434 |
| &nbsp;&nbsp;&nbsp; LPL Financial Holdings Inc | &nbsp;&nbsp;&nbsp;&nbsp; 116148 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 38641278 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 66779141 |
| Chemicals – 1.4% |  |  |
| &nbsp;&nbsp;&nbsp; Corteva Inc | &nbsp;&nbsp;&nbsp;&nbsp; 382430 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25863741 |
| Commercial Services & Supplies – 4.9% |  |  |
| &nbsp;&nbsp;&nbsp; Cimpress PLC<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 173670 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10948157 |
| &nbsp;&nbsp;&nbsp; Clean Harbors Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 98680 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22915469 |
| &nbsp;&nbsp;&nbsp; RB Global Inc | &nbsp;&nbsp;&nbsp;&nbsp; 202211 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21911584 |
| &nbsp;&nbsp;&nbsp; Rentokil Initial PLC | &nbsp;&nbsp; 1312986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6633849 |
| &nbsp;&nbsp;&nbsp; Rentokil Initial PLC (ADR) | &nbsp;&nbsp;&nbsp;&nbsp; 521599 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13170375 |
| &nbsp;&nbsp;&nbsp; Veralto Corp | &nbsp;&nbsp;&nbsp;&nbsp; 140904 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15021775 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 90601209 |
| Construction & Engineering – 1.8% |  |  |
| &nbsp;&nbsp;&nbsp; APi Group Corp<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 961553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33048577 |
| Diversified Financial Services – 2.2% |  |  |
| &nbsp;&nbsp;&nbsp; Global Payments Inc | &nbsp;&nbsp;&nbsp;&nbsp; 112901 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9379815 |
| &nbsp;&nbsp;&nbsp; WEX Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 199240 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31386277 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40766092 |
| Electric Utilities – 2.1% |  |  |
| &nbsp;&nbsp;&nbsp; Alliant Energy Corp | &nbsp;&nbsp;&nbsp;&nbsp; 579298 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 39050478 |
| Electrical Equipment – 1.0% |  |  |
| &nbsp;&nbsp;&nbsp; Sensata Technologies Holding PLC | &nbsp;&nbsp;&nbsp;&nbsp; 598656 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18288941 |
| Electronic Equipment, Instruments & Components – 8.1% |  |  |
| &nbsp;&nbsp;&nbsp; CDW Corp/DE | &nbsp;&nbsp;&nbsp;&nbsp; 107625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17142510 |
| &nbsp;&nbsp;&nbsp; Flex Ltd<sup>\*</sup> <br>| &nbsp;&nbsp; 1256102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 72816233 |
| &nbsp;&nbsp;&nbsp; TE Connectivity PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 64001 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14050139 |
| &nbsp;&nbsp;&nbsp; Teledyne Technologies Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 76322 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 44727745 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 148736627 |
| Entertainment – 2.3% |  |  |
| &nbsp;&nbsp;&nbsp; Liberty Media Corp-Liberty Formula One - Series A<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 54039 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5145594 |
| &nbsp;&nbsp;&nbsp; Liberty Media Corp-Liberty Formula One - Series C<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 361156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 37722744 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42868338 |
| Food & Staples Retailing – 0.6% |  |  |
| &nbsp;&nbsp;&nbsp; Dollar Tree Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 111275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10501022 |
| Health Care Equipment & Supplies – 6.6% |  |  |
| &nbsp;&nbsp;&nbsp; Boston Scientific Corp<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 434358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42406371 |
| &nbsp;&nbsp;&nbsp; Cooper Cos Inc/The<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 136639 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9367970 |
| &nbsp;&nbsp;&nbsp; Globus Medical Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 173114 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9914239 |
| &nbsp;&nbsp;&nbsp; ICU Medical Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 103035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12360078 |
| &nbsp;&nbsp;&nbsp; Lantheus Holdings Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 88748 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4551885 |
| &nbsp;&nbsp;&nbsp; STERIS PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 58577 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14494293 |
| &nbsp;&nbsp;&nbsp; Teleflex Inc | &nbsp;&nbsp;&nbsp;&nbsp; 223936 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27400809 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 120495645 |
| Hotels, Restaurants & Leisure – 3.7% |  |  |
| &nbsp;&nbsp;&nbsp; Aramark | &nbsp;&nbsp;&nbsp;&nbsp; 767910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29487744 |
| &nbsp;&nbsp;&nbsp; DoorDash Inc - Class A<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 99879 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 27166089 |
| &nbsp;&nbsp;&nbsp; Entain PLC | &nbsp;&nbsp;&nbsp;&nbsp; 891161 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10445283 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 67099116 |
| Industrial Real Estate Investment Trusts (REITs) – 0.4% |  |  |
| &nbsp;&nbsp;&nbsp; Lineage Inc | &nbsp;&nbsp;&nbsp;&nbsp; 210754 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8143535 |

---

------

---

| | | |
|:---|:---|:---|
|  | *Shares* | *Value* |
| Common Stocks – (continued) |  |  |
| Information Technology Services – 1.2% |  |  |
| &nbsp;&nbsp;&nbsp; Amdocs Ltd | &nbsp;&nbsp;&nbsp;&nbsp; 151225 | &nbsp;&nbsp;&nbsp;&nbsp; $12408011 |
| &nbsp;&nbsp;&nbsp; GoDaddy Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 68957 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9435387 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21843398 |
| Insurance – 5.5% |  |  |
| &nbsp;&nbsp;&nbsp; Intact Financial Corp | &nbsp;&nbsp;&nbsp;&nbsp; 273326 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 53186116 |
| &nbsp;&nbsp;&nbsp; Willis Towers Watson PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 49526 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17108757 |
| &nbsp;&nbsp;&nbsp; WR Berkley Corp | &nbsp;&nbsp;&nbsp;&nbsp; 388721 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29783803 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 100078676 |
| Interactive Media & Services – 0.3% |  |  |
| &nbsp;&nbsp;&nbsp; Ziff Davis Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 123950 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4722495 |
| Life Sciences Tools & Services – 3.8% |  |  |
| &nbsp;&nbsp;&nbsp; Illumina Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 98218 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9327764 |
| &nbsp;&nbsp;&nbsp; PerkinElmer Inc | &nbsp;&nbsp;&nbsp;&nbsp; 435877 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 38204619 |
| &nbsp;&nbsp;&nbsp; Waters Corp<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 75221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22552008 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 70084391 |
| Machinery – 1.6% |  |  |
| &nbsp;&nbsp;&nbsp; Ingersoll Rand Inc | &nbsp;&nbsp;&nbsp;&nbsp; 352501 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29123633 |
| Multi-Utilities – 2.8% |  |  |
| &nbsp;&nbsp;&nbsp; Ameren Corp | &nbsp;&nbsp;&nbsp;&nbsp; 257926 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26922316 |
| &nbsp;&nbsp;&nbsp; DTE Energy Co | &nbsp;&nbsp;&nbsp;&nbsp; 171329 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24231060 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 51153376 |
| Oil, Gas & Consumable Fuels – 0.9% |  |  |
| &nbsp;&nbsp;&nbsp; ONEOK Inc | &nbsp;&nbsp;&nbsp;&nbsp; 233841 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17063378 |
| Professional Services – 8.6% |  |  |
| &nbsp;&nbsp;&nbsp; Broadridge Financial Solutions Inc | &nbsp;&nbsp;&nbsp;&nbsp; 145740 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 34710896 |
| &nbsp;&nbsp;&nbsp; Ceridian HCM Holding Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 507897 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 34989024 |
| &nbsp;&nbsp;&nbsp; SS&C Technologies Holdings Inc | &nbsp;&nbsp;&nbsp;&nbsp; 750302 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 66596805 |
| &nbsp;&nbsp;&nbsp; TransUnion | &nbsp;&nbsp;&nbsp;&nbsp; 159265 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13343222 |
| &nbsp;&nbsp;&nbsp; UL Solutions Inc - Class A | &nbsp;&nbsp;&nbsp;&nbsp; 110979 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7863972 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 157503919 |
| Real Estate Management & Development – 1.9% |  |  |
| &nbsp;&nbsp;&nbsp; CoStar Group Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 319299 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26939257 |
| &nbsp;&nbsp;&nbsp; FirstService Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 38378 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7310625 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 34249882 |
| Road & Rail – 2.3% |  |  |
| &nbsp;&nbsp;&nbsp; JB Hunt Transport Services Inc | &nbsp;&nbsp;&nbsp;&nbsp; 219903 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29504385 |
| &nbsp;&nbsp;&nbsp; TFI International Inc | &nbsp;&nbsp;&nbsp;&nbsp; 147782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13013683 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42518068 |
| Semiconductor & Semiconductor Equipment – 4.5% |  |  |
| &nbsp;&nbsp;&nbsp; KLA Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18173 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19601398 |
| &nbsp;&nbsp;&nbsp; NXP Semiconductors NV | &nbsp;&nbsp;&nbsp;&nbsp; 146021 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33253362 |
| &nbsp;&nbsp;&nbsp; ON Semiconductor Corp<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 592893 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29235554 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 82090314 |
| Software – 13.0% |  |  |
| &nbsp;&nbsp;&nbsp; AppLovin Corp - Class A<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 125433 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 90128628 |
| &nbsp;&nbsp;&nbsp; Constellation Software Inc/Canada | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 63624278 |
| &nbsp;&nbsp;&nbsp; Descartes Systems Group Inc/The<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95861 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9032982 |
| &nbsp;&nbsp;&nbsp; Dynatrace Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 201320 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9753954 |
| &nbsp;&nbsp;&nbsp; PTC Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 197839 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40165274 |
| &nbsp;&nbsp;&nbsp; Topicus.com Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 78142 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8381382 |
| &nbsp;&nbsp;&nbsp; Workday Inc - Class A<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 67889 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16342919 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 237429417 |
| Specialized Real Estate Investment Trusts (REITs) – 1.1% |  |  |
| &nbsp;&nbsp;&nbsp; Lamar Advertising Co | &nbsp;&nbsp;&nbsp;&nbsp; 168584 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20638053 |
| Specialty Retail – 2.1% |  |  |
| &nbsp;&nbsp;&nbsp; Burlington Stores Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 44283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11270023 |
| &nbsp;&nbsp;&nbsp; CarMax Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 287418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12896446 |
| &nbsp;&nbsp;&nbsp; Wayfair Inc - Class A<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 166695 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14890864 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 39057333 |
| Textiles, Apparel & Luxury Goods – 1.4% |  |  |
| &nbsp;&nbsp;&nbsp; Gildan Activewear Inc | &nbsp;&nbsp;&nbsp;&nbsp; 438819 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25363738 |
| Trading Companies & Distributors – 2.8% |  |  |
| &nbsp;&nbsp;&nbsp; Ferguson Enterprises Inc | &nbsp;&nbsp;&nbsp;&nbsp; 226139 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 50786297 |
| Total Common Stocks (cost $1,107,021,868) |  | &nbsp;&nbsp; 1782716576 |

---

------

---

| | | |
|:---|:---|:---|
|  | *Shares* | *Value* |
| Investment Companies – 2.7% |  |  |
| Money Markets – 2.7% |  |  |
| &nbsp;&nbsp;&nbsp; Janus Henderson Cash Liquidity Fund LLC, 4.0538%<sup>ºº,</sup><sup>£</sup> (cost $49,205,092) | 49196926 | &nbsp;&nbsp;&nbsp;&nbsp; $49206765 |
| Total Investments (total cost $1,156,226,960) – 99.9% |  | &nbsp;&nbsp; 1831923341 |
| Cash, Receivables and Other Assets, net of Liabilities – 0.1% |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2151173 |
| Net Assets – 100% |  | $1834074514 |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

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| | | |
|:---|:---|:---|
| ***Summary of Investments by Country - (Long Positions) (unaudited)*** |  |  |
| *Country* | *Value* | &nbsp;&nbsp; *% of* <br>*Investment* <br>*Securities*<br>|
| United States | $1530847301 | &nbsp;&nbsp;&nbsp;&nbsp; 83.6<br> %<br>|
| Canada | 201824388 | &nbsp;&nbsp;&nbsp;&nbsp;11.0 |
| Ireland | 34933118 | &nbsp;&nbsp;&nbsp;&nbsp;1.9 |
| United Kingdom | 30249507 | &nbsp;&nbsp;&nbsp;&nbsp;1.7 |
| Belgium | 18835807 | &nbsp;&nbsp;&nbsp;&nbsp;1.0 |
| Denmark | 15233220 | &nbsp;&nbsp;&nbsp;&nbsp;0.8 |
| Total | $1831923341 | &nbsp;&nbsp;&nbsp;&nbsp; 100.0<br> %<br>|

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| ***Schedule of Affiliated Investments - (% of Net Assets)*** | ***Schedule of Affiliated Investments - (% of Net Assets)*** | ***Schedule of Affiliated Investments - (% of Net Assets)*** | ***Schedule of Affiliated Investments - (% of Net Assets)*** | ***Schedule of Affiliated Investments - (% of Net Assets)*** | ***Schedule of Affiliated Investments - (% of Net Assets)*** | ***Schedule of Affiliated Investments - (% of Net Assets)*** | ***Schedule of Affiliated Investments - (% of Net Assets)*** | ***Schedule of Affiliated Investments - (% of Net Assets)*** |
| *Affiliate* | *Affiliated* <br>*Investments,* <br>*at Value at* <br>*12/31/24*<br>| *Purchases* | *Sales* <br>*Proceeds*<br>| *Realized* <br>*Gain/(Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation/* <br>*Depreciation*<br>| *Affiliated* <br>*Investments,* <br>*at Value at* <br>*9/30/25*<br>| *Ending* <br>*Shares*<br>| *Dividend* <br>*Income*<br>|
| Investment Companies - 2.7% | Investment Companies - 2.7% | Investment Companies - 2.7% | Investment Companies - 2.7% | Investment Companies - 2.7% | Investment Companies - 2.7% | Investment Companies - 2.7% | Investment Companies - 2.7% | Investment Companies - 2.7% |
| Money Markets - 2.7% | Money Markets - 2.7% | Money Markets - 2.7% | Money Markets - 2.7% | Money Markets - 2.7% | Money Markets - 2.7% | Money Markets - 2.7% | Money Markets - 2.7% | Money Markets - 2.7% |
| &nbsp;&nbsp;&nbsp; Janus Henderson Cash Liquidity Fund LLC, 4.0538%<sup>ºº</sup>  | &nbsp;&nbsp;&nbsp; Janus Henderson Cash Liquidity Fund LLC, 4.0538%<sup>ºº</sup>  | &nbsp;&nbsp;&nbsp; Janus Henderson Cash Liquidity Fund LLC, 4.0538%<sup>ºº</sup>  | &nbsp;&nbsp;&nbsp; Janus Henderson Cash Liquidity Fund LLC, 4.0538%<sup>ºº</sup>  | &nbsp;&nbsp;&nbsp; Janus Henderson Cash Liquidity Fund LLC, 4.0538%<sup>ºº</sup>  | &nbsp;&nbsp;&nbsp; Janus Henderson Cash Liquidity Fund LLC, 4.0538%<sup>ºº</sup>  | &nbsp;&nbsp;&nbsp; Janus Henderson Cash Liquidity Fund LLC, 4.0538%<sup>ºº</sup>  | &nbsp;&nbsp;&nbsp; Janus Henderson Cash Liquidity Fund LLC, 4.0538%<sup>ºº</sup>  | &nbsp;&nbsp;&nbsp; Janus Henderson Cash Liquidity Fund LLC, 4.0538%<sup>ºº</sup>  |
|  | &nbsp;&nbsp; $64355503 | &nbsp;&nbsp; $119377879 | &nbsp;&nbsp; $(134526522) | &nbsp;&nbsp; $(95) | &nbsp;&nbsp; $- | &nbsp;&nbsp; $49206765 | &nbsp;&nbsp; 49196926 | &nbsp;&nbsp; $1904718 |
| Investments Purchased with Cash Collateral from Securities Lending - N/A | Investments Purchased with Cash Collateral from Securities Lending - N/A | Investments Purchased with Cash Collateral from Securities Lending - N/A | Investments Purchased with Cash Collateral from Securities Lending - N/A | Investments Purchased with Cash Collateral from Securities Lending - N/A | Investments Purchased with Cash Collateral from Securities Lending - N/A | Investments Purchased with Cash Collateral from Securities Lending - N/A | Investments Purchased with Cash Collateral from Securities Lending - N/A | Investments Purchased with Cash Collateral from Securities Lending - N/A |
| Investment Companies - N/A | Investment Companies - N/A | Investment Companies - N/A | Investment Companies - N/A | Investment Companies - N/A | Investment Companies - N/A | Investment Companies - N/A | Investment Companies - N/A | Investment Companies - N/A |
| &nbsp;&nbsp;&nbsp; Janus Henderson Cash Collateral Fund LLC, 4.0644%<sup>ºº</sup>  | &nbsp;&nbsp;&nbsp; Janus Henderson Cash Collateral Fund LLC, 4.0644%<sup>ºº</sup>  | &nbsp;&nbsp;&nbsp; Janus Henderson Cash Collateral Fund LLC, 4.0644%<sup>ºº</sup>  | &nbsp;&nbsp;&nbsp; Janus Henderson Cash Collateral Fund LLC, 4.0644%<sup>ºº</sup>  | &nbsp;&nbsp;&nbsp; Janus Henderson Cash Collateral Fund LLC, 4.0644%<sup>ºº</sup>  | &nbsp;&nbsp;&nbsp; Janus Henderson Cash Collateral Fund LLC, 4.0644%<sup>ºº</sup>  | &nbsp;&nbsp;&nbsp; Janus Henderson Cash Collateral Fund LLC, 4.0644%<sup>ºº</sup>  | &nbsp;&nbsp;&nbsp; Janus Henderson Cash Collateral Fund LLC, 4.0644%<sup>ºº</sup>  | &nbsp;&nbsp;&nbsp; Janus Henderson Cash Collateral Fund LLC, 4.0644%<sup>ºº</sup>  |
|  | &nbsp;&nbsp; 2721720 | &nbsp;&nbsp; 107428574 | &nbsp;&nbsp; (110150294) | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; 6252 <br><sup>∆</sup><br>|
| Total Affiliated Investments - 2.7% | Total Affiliated Investments - 2.7% | Total Affiliated Investments - 2.7% | Total Affiliated Investments - 2.7% | Total Affiliated Investments - 2.7% | Total Affiliated Investments - 2.7% | Total Affiliated Investments - 2.7% | Total Affiliated Investments - 2.7% | Total Affiliated Investments - 2.7% |
|  | &nbsp;&nbsp; $67077223 | &nbsp;&nbsp; $226806453 | &nbsp;&nbsp; $(244676816) | &nbsp;&nbsp; $(95) | &nbsp;&nbsp; $- | &nbsp;&nbsp; $49206765 | &nbsp;&nbsp; 49196926 | &nbsp;&nbsp; $1910970 |

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| | | | | |
|:---|:---|:---|:---|:---|
| ***Schedule of Forward Foreign Currency Exchange Contracts*** | ***Schedule of Forward Foreign Currency Exchange Contracts*** | ***Schedule of Forward Foreign Currency Exchange Contracts*** | ***Schedule of Forward Foreign Currency Exchange Contracts*** | ***Schedule of Forward Foreign Currency Exchange Contracts*** |
| *Counterparty/* <br>*Foreign Currency*<br>| *Settlement* <br>*Date*<br>| &nbsp;&nbsp; *Foreign Currency* <br>*Amount (Sold)/* <br>*Purchased*<br>| &nbsp;&nbsp; *USD Currency* <br>*Amount (Sold)/* <br>*Purchased*<br>| &nbsp;&nbsp; *Market Value and* <br>*Unrealized* <br>*Appreciation/* <br>*(Depreciation)*<br>|
| Bank of America, National Association: | Bank of America, National Association: | Bank of America, National Association: | Bank of America, National Association: | Bank of America, National Association: |
| &nbsp;&nbsp;&nbsp; Canadian Dollar | 12/11/25 | &nbsp;&nbsp;&nbsp; 1431000 | &nbsp;&nbsp;&nbsp; $(1038967) | &nbsp;&nbsp;&nbsp; $(7090) |
| &nbsp;&nbsp;&nbsp; Euro | 12/11/25 | &nbsp;&nbsp;&nbsp; 5604000 | &nbsp;&nbsp;&nbsp; (6606724) | &nbsp;&nbsp;&nbsp; (1115) |
|  |  |  |  | &nbsp;&nbsp;&nbsp; (8205) |
| Barclays Capital, Inc.: | Barclays Capital, Inc.: | Barclays Capital, Inc.: | Barclays Capital, Inc.: | Barclays Capital, Inc.: |
| &nbsp;&nbsp;&nbsp; Canadian Dollar | 12/11/25 | &nbsp;&nbsp;&nbsp; (11428790) | &nbsp;&nbsp;&nbsp; 8296191 | &nbsp;&nbsp;&nbsp; 55027 |
| &nbsp;&nbsp;&nbsp; Euro | 12/11/25 | &nbsp;&nbsp;&nbsp; (7380000) | &nbsp;&nbsp;&nbsp; 8699449 | &nbsp;&nbsp;&nbsp; 414 |
|  |  |  |  | &nbsp;&nbsp;&nbsp; 55441 |
| BNP Paribas: | BNP Paribas: | BNP Paribas: | BNP Paribas: | BNP Paribas: |
| &nbsp;&nbsp;&nbsp; Canadian Dollar | 12/11/25 | &nbsp;&nbsp;&nbsp; (3026000) | &nbsp;&nbsp;&nbsp; 2196774 | &nbsp;&nbsp;&nbsp; 14762 |
| &nbsp;&nbsp;&nbsp; Euro | 12/11/25 | &nbsp;&nbsp;&nbsp; (1812000) | &nbsp;&nbsp;&nbsp; 2135451 | &nbsp;&nbsp;&nbsp;&nbsp;(409) |
|  |  |  |  | &nbsp;&nbsp;&nbsp; 14353 |
| Citibank, National Association: | Citibank, National Association: | Citibank, National Association: | Citibank, National Association: | Citibank, National Association: |
| &nbsp;&nbsp;&nbsp; Canadian Dollar | 12/11/25 | &nbsp;&nbsp;&nbsp; (18887000) | &nbsp;&nbsp;&nbsp; 13710002 | &nbsp;&nbsp;&nbsp; 90811 |
| &nbsp;&nbsp;&nbsp; Euro | 12/11/25 | &nbsp;&nbsp;&nbsp; 1496000 | &nbsp;&nbsp;&nbsp; (1776678) | &nbsp;&nbsp;&nbsp; (13297) |
| &nbsp;&nbsp;&nbsp; Euro | 12/11/25 | &nbsp;&nbsp;&nbsp; (4278087) | &nbsp;&nbsp;&nbsp; 5040149 | &nbsp;&nbsp;&nbsp; (2566) |
|  |  |  |  | &nbsp;&nbsp;&nbsp; 74948 |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Counterparty/*<br> *Foreign Currency*<br>| *Settlement*<br> *Date*<br>| &nbsp;&nbsp; *Foreign Currency*<br> *Amount (Sold)/*<br> *Purchased*<br>| &nbsp;&nbsp; *USD Currency*<br> *Amount (Sold)/*<br> *Purchased*<br>| &nbsp;&nbsp; *Market Value and*<br> *Unrealized*<br> *Appreciation/*<br> *(Depreciation)*<br>|
| Goldman Sachs & Co. LLC: | Goldman Sachs & Co. LLC: | Goldman Sachs & Co. LLC: | Goldman Sachs & Co. LLC: | Goldman Sachs & Co. LLC: |
| &nbsp;&nbsp;&nbsp; Canadian Dollar | 12/11/25 | &nbsp;&nbsp;&nbsp; 7846000 | &nbsp;&nbsp;&nbsp; $(5702417) | &nbsp;&nbsp;&nbsp; $(44760) |
| &nbsp;&nbsp;&nbsp; Euro | 12/11/25 | &nbsp;&nbsp;&nbsp; (3676000) | &nbsp;&nbsp;&nbsp; 4333647 | &nbsp;&nbsp;&nbsp; 632 |
|  |  |  |  | &nbsp;&nbsp;&nbsp; (44128) |
| HSBC Securities (USA), Inc.: | HSBC Securities (USA), Inc.: | HSBC Securities (USA), Inc.: | HSBC Securities (USA), Inc.: | HSBC Securities (USA), Inc.: |
| &nbsp;&nbsp;&nbsp; Canadian Dollar | 12/11/25 | &nbsp;&nbsp;&nbsp; (12150536) | &nbsp;&nbsp;&nbsp; 8819832 | &nbsp;&nbsp;&nbsp; 58225 |
| &nbsp;&nbsp;&nbsp; Euro | 12/11/25 | &nbsp;&nbsp;&nbsp; 2439219 | &nbsp;&nbsp;&nbsp; (2874800) | &nbsp;&nbsp;&nbsp; 383 |
|  |  |  |  | &nbsp;&nbsp;&nbsp; 58608 |
| JPMorgan Chase Bank, National Association: | JPMorgan Chase Bank, National Association: | JPMorgan Chase Bank, National Association: | JPMorgan Chase Bank, National Association: | JPMorgan Chase Bank, National Association: |
| &nbsp;&nbsp;&nbsp; Canadian Dollar | 12/11/25 | &nbsp;&nbsp;&nbsp; (21016000) | &nbsp;&nbsp;&nbsp; 15260402 | &nbsp;&nbsp;&nbsp; 106015 |
| &nbsp;&nbsp;&nbsp; Euro | 12/11/25 | &nbsp;&nbsp;&nbsp; (6485130) | &nbsp;&nbsp;&nbsp; 7642595 | &nbsp;&nbsp;&nbsp; (1629) |
|  |  |  |  | &nbsp;&nbsp;&nbsp; 104386 |
| Morgan Stanley & Co. International PLC: | Morgan Stanley & Co. International PLC: | Morgan Stanley & Co. International PLC: | Morgan Stanley & Co. International PLC: | Morgan Stanley & Co. International PLC: |
| &nbsp;&nbsp;&nbsp; Canadian Dollar | 12/11/25 | &nbsp;&nbsp;&nbsp; (2258464) | &nbsp;&nbsp;&nbsp; 1640029 | &nbsp;&nbsp;&nbsp; 11477 |
| &nbsp;&nbsp;&nbsp; Euro | 12/11/25 | &nbsp;&nbsp;&nbsp; 624000 | &nbsp;&nbsp;&nbsp; (733687) | &nbsp;&nbsp;&nbsp; 1842 |
| &nbsp;&nbsp;&nbsp; Euro | 12/11/25 | &nbsp;&nbsp;&nbsp; (2298000) | &nbsp;&nbsp;&nbsp; 2708692 | &nbsp;&nbsp;&nbsp;&nbsp;(32) |
|  |  |  |  | &nbsp;&nbsp;&nbsp; 13287 |
| State Street Bank and Trust Company: | State Street Bank and Trust Company: | State Street Bank and Trust Company: | State Street Bank and Trust Company: | State Street Bank and Trust Company: |
| &nbsp;&nbsp;&nbsp; Canadian Dollar | 12/11/25 | &nbsp;&nbsp;&nbsp; 1692000 | &nbsp;&nbsp;&nbsp; (1234734) | &nbsp;&nbsp;&nbsp; (14653) |
| &nbsp;&nbsp;&nbsp; Canadian Dollar | 12/11/25 | &nbsp;&nbsp;&nbsp; (11556500) | &nbsp;&nbsp;&nbsp; 8386159 | &nbsp;&nbsp;&nbsp; 52905 |
| &nbsp;&nbsp;&nbsp; Euro | 12/11/25 | &nbsp;&nbsp;&nbsp; 774000 | &nbsp;&nbsp;&nbsp; (913964) | &nbsp;&nbsp;&nbsp; (1627) |
| &nbsp;&nbsp;&nbsp; Euro | 12/11/25 | &nbsp;&nbsp;&nbsp; (12054000) | &nbsp;&nbsp;&nbsp; 14204301 | &nbsp;&nbsp;&nbsp; (4122) |
|  |  |  |  | &nbsp;&nbsp;&nbsp; 32503 |
| Total |  |  |  | &nbsp;&nbsp;&nbsp; $301193 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| ***Schedule of Total Return Swaps*** | ***Schedule of Total Return Swaps*** | ***Schedule of Total Return Swaps*** | ***Schedule of Total Return Swaps*** | ***Schedule of Total Return Swaps*** | ***Schedule of Total Return Swaps*** |  |
| *Counterparty/* <br>*Return Paid* <br>*by the Portfolio*<br>| *Return Received* <br>*by the Portfolio*<br>| &nbsp;&nbsp; *Payment* <br>*Frequency*<br>| &nbsp;&nbsp; *Termination* <br>*Date*<br>| &nbsp;&nbsp; *Notional* <br>*Amount*<br>|  | &nbsp;&nbsp; *Swap* <br>*Contracts, at* <br>*Value and* <br>*Unrealized* <br>*Appreciation/* <br>*(Depreciation)*<br>|
| UBS AG, London Branch: |  |  |  |  |  |  |
| Euro short-term rate + 0.65% | Ryanair Holdings PLC | At Maturity | &nbsp;&nbsp;&nbsp; 11/14/25 | &nbsp;&nbsp;&nbsp; 1431064 | &nbsp;&nbsp; EUR | &nbsp;&nbsp;&nbsp; $752226 |
| Euro short-term rate + 0.695% | Ryanair Holdings PLC | At Maturity | &nbsp;&nbsp;&nbsp;&nbsp; 2/6/26 | &nbsp;&nbsp;&nbsp; 2079639 | &nbsp;&nbsp; EUR | &nbsp;&nbsp;&nbsp;&nbsp; 671192 |
| Total |  |  |  |  |  | &nbsp;&nbsp;&nbsp; $1423418 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Average Ending Monthly Value of Derivative Instruments During the Period Ended September 30, 2025** | **Average Ending Monthly Value of Derivative Instruments During the Period Ended September 30, 2025** |
| Forward foreign currency exchange contracts: |  |
| Average amounts purchased - in USD | $27983158 |
| Average amounts sold - in USD | 116115874 |
| Total return swaps: |  |
| Average notional amount | 4519542 |

---

------

**Notes to Schedule of Investments (unaudited)** 

ADR American Depositary Receipt <br> LLC Limited Liability Company <br> PLC Public Limited Company

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| Non-income producing security. |
| Rate shown is the 7-day yield as of September 30, 2025. |
| £&nbsp;&nbsp; The Portfolio may invest in certain securities that are considered affiliated companies. As defined by the Investment Company Act of 1940, <br> as amended, an affiliated company is one in which the Portfolio owns 5% or more of the outstanding voting securities, or a company which <br> is under common ownership or control.<br>|
| Net of income paid to the securities lending agent and rebates paid to the borrowing counterparties. |

---

The following is a summary of the inputs that were used to value the Portfolio's investments in securities and other

financial instruments as of September 30, 2025.

---

| | | | |
|:---|:---|:---|:---|
| **Valuation Inputs Summary** | **Valuation Inputs Summary** | **Valuation Inputs Summary** | **Valuation Inputs Summary** |
|  | ***Level 1 -*** <br>***Quoted Prices***<br>| &nbsp;&nbsp; ***Level 2 -*** <br>***Other Significant*** <br>***Observable Inputs***<br>| &nbsp;&nbsp; ***Level 3 -*** <br>***Significant*** <br>***Unobservable Inputs***<br>|
| **Assets** |  |  |  |
| **Investments In Securities:** |  |  |  |
| *Common Stocks* |  |  |  |
| Airlines | $16193459 | &nbsp;&nbsp;&nbsp; $4689520 | &nbsp;&nbsp;&nbsp; $- |
| Commercial Services & Supplies | 83967360 | &nbsp;&nbsp;&nbsp; 6633849 | &nbsp;&nbsp;&nbsp; - |
| Hotels, Restaurants & Leisure | 56653833 | &nbsp;&nbsp;&nbsp; 10445283 | &nbsp;&nbsp;&nbsp; - |
| All Other | 1604133272 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - |
| *Investment Companies* | - | &nbsp;&nbsp;&nbsp; 49206765 | &nbsp;&nbsp;&nbsp; - |
| Total Investments in Securities | $1760947924 | &nbsp;&nbsp;&nbsp; $70975417 | &nbsp;&nbsp;&nbsp; $- |
| **Other Financial Instruments**<sup>(a)</sup>**:** |  |  |  |
| *Forward Foreign Currency Exchange Contracts* | - | &nbsp;&nbsp;&nbsp; 392493 | &nbsp;&nbsp;&nbsp; - |
| *OTC Swaps* | - | &nbsp;&nbsp;&nbsp; 1423418 | &nbsp;&nbsp;&nbsp; - |
| **Total Assets** | $1760947924 | &nbsp;&nbsp;&nbsp; $72791328 | &nbsp;&nbsp;&nbsp; $- |
| **Liabilities** |  |  |  |
| **Other Financial Instruments**<sup>(a)</sup>**:** |  |  |  |
| *Forward Foreign Currency Exchange Contracts* | $- | &nbsp;&nbsp;&nbsp; $91300 | &nbsp;&nbsp;&nbsp; $- |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

&nbsp;&nbsp;&nbsp;&nbsp;(a) Other financial instruments may include forward foreign currency exchange contracts,
 futures, written options, written swaptions, and swap contracts. Forward foreign currency exchange contracts, futures contracts, and centrally
 cleared swap contracts are reported at their unrealized appreciation/(depreciation) at measurement date, which represents the change in the
 contract's value from trade date. Written options, written swaptions, and OTC swaps are reported at their market value at measurement date.

------

**Investment Valuation**

Portfolio holdings are valued in accordance with policies and procedures established by the Adviser pursuant to Rule 2a-5 under the 1940 Act and approved by and subject to the oversight of the Trustees (the "Valuation Procedures"). Equity securities traded on a domestic securities exchange are generally valued at readily available market quotations, which are (i) the official close prices or (ii) last sale prices on the primary market or exchange in which the securities trade. If such price is lacking for the trading period immediately preceding the time of determination, such securities are generally valued at their current bid price. Equity securities that are traded on a foreign exchange are generally valued at the closing prices on such markets. In the event that there is no current trading volume on a particular security in such foreign exchange, the bid price from the primary exchange is generally used to value the security. Foreign securities and currencies are converted to U.S. dollars using the current spot USD dollar exchange rate in effect at the close of the New York Stock Exchange ("NYSE"). The Adviser will determine the market value of individual securities held by it by using prices provided by one or more Adviser-approved professional pricing services or, as needed, by obtaining market quotations from independent broker-dealers. Most debt securities are valued in accordance with the evaluated bid price supplied by the pricing service that is intended to reflect market value. The evaluated bid price supplied by the pricing service is an evaluation that may consider factors such as security prices, yields, maturities, and ratings. Certain short-term securities maturing within 60 days or less may be evaluated and valued on an amortized cost basis provided that the amortized cost determined approximates market value. Securities for which market quotations or evaluated prices are not readily available or deemed unreliable are valued at fair value determined in good faith by the Adviser pursuant to the Valuation Procedures. Circumstances in which fair valuation may be utilized include, but are not limited to: (i) a significant event that may affect the securities of a single issuer, such as a merger, bankruptcy, or significant issuer-specific development; (ii) an event that may affect an entire market, such as a natural disaster or significant governmental action; (iii) a nonsignificant event such as a market closing early or not opening, or a security trading halt; and (iv) pricing of a non-valued security and a restricted or nonpublic security. Special valuation considerations may apply with respect to "odd-lot" fixed-income transactions which, due to their small size, may receive evaluated prices by pricing services which reflect a large block trade and not what actually could be obtained for the odd-lot position. The value of the securities of other mutual funds held by the Portfolio, if any, will be calculated using the NAV of such mutual funds, and the prospectuses for such mutual funds explain the circumstances under which they use fair valuation and the effects of using fair valuation. The value of the securities of any cash management pooled investment vehicles that operate as money market funds held by the Portfolio, if any, will be calculated using the NAV of

such funds.

**Valuation Inputs Summary**

FASB ASC 820, *Fair Value Measurements and Disclosures* ("ASC 820"), defines fair value, establishes a framework for measuring fair value, and expands disclosure requirements regarding fair value measurements. This standard emphasizes that fair value is a market-based measurement that should be determined based on the assumptions that market participants would use in pricing an asset or liability and establishes a hierarchy that prioritizes inputs to valuation techniques used to measure fair value. These inputs are summarized into three broad levels:

Level 1 – Unadjusted quoted prices in active markets the Portfolio has the ability to access for identical assets or liabilities.

Level 2 – Observable inputs other than unadjusted quoted prices included in Level 1 that are observable for the asset or liability either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default

rates and similar data.

Assets or liabilities categorized as Level 2 in the hierarchy generally include: debt securities fair valued in accordance with the evaluated bid or ask prices supplied by a pricing service; securities traded on OTC markets and listed securities for which no sales are reported that are fair valued at the latest bid price (or yield equivalent thereof) obtained from one or more dealers transacting in a market for such securities or by a pricing service approved by the Portfolio's Trustees; certain short-term debt securities with maturities of 60 days or less that are fair valued at amortized cost; and equity securities of foreign issuers whose fair value is determined by using systematic fair valuation models provided by independent third parties in order to adjust for stale pricing which may occur between the close of certain foreign exchanges and the close of the NYSE. Other securities that may be categorized as Level 2 in the hierarchy include, but are not limited to, preferred stocks, bank loans, swaps,

investments in unregistered investment companies, options, and forward contracts.

Level 3 – Unobservable inputs for the asset or liability to the extent that relevant observable inputs are not available, representing the Portfolio's own assumptions about the assumptions that a market participant would use in valuing the asset or liability, and that would be based on the best information available.

There have been no significant changes in valuation techniques used in valuing any such positions held by the Portfolio since the beginning of the fiscal period.

------

The inputs or methodology used for fair valuing securities are not necessarily an indication of the risk associated with investing in those securities. The summary of inputs used as of September 30, 2025 to fair value the Portfolio's investments in securities and other financial instruments is included in the "Valuation Inputs Summary" in the Notes to Schedule of Investments.

------

For additional information on the Portfolio, please refer to the Portfolio's most recent semiannual or annual financial

statements.

109-35-70303 11-25

------

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** JANUS ASPEN SERIES

- **b. Investment Company Act file number:** 811-07736

- **c. CIK number of Registrant:** 0000906185

- **d. LEI of Registrant:** 5C1H794C69TI10A0XC04

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 151 DETROIT STREET

  - **City:** Denver

  - **State:** CO

  - **Foreign country:** US

  - **Zip / Postal Code:** 80206

  - **Telephone number:** 303-333-3863

**Item A.2. Information about the Series.**

- **a. Name of Series:** Janus Henderson Enterprise Portfolio

- **b. EDGAR series identifier (if any):** S000010396

- **c. LEI of Series:** TO2I0CLMP1DBZ99WWT93

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-09-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $1835206008.68

**Total Liabilities:** $1131494.74

**Net Assets:** $1834074513.94

**Cash Not Reported:** $326205.67

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000028720 | 1.38%                | 1.05%                | 0.01%                |
| Class ID C000028721 | 1.38%                | 1.07%                | 0.04%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-359682.00              | $23364285.00                               |
| Month 2  | $2765457.00              | $17483173.00                               |
| Month 3  | $18389092.00             | $-19441876.00                              |

**Designated Index Information**

- **Index Name:** Russell MidCap Growth

- **Index Identifier:** RUSSELL.MC.RDG

### Schedule of Portfolio Investments

| Name                                        | Title                                                          | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| W.R. Berkley Corporation                    | W.R. Berkley Corporation COM USD0.20                           | CUSIP: 084423102<br>LEI: SQOAGCLKBDWNVYV1OV80 | Long             | EC               | CORP              | US        |    388721 | NS      | $29783803.02  | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| J. B. Hunt Transport Services, Inc.         | J. B. Hunt Transport Services, Inc. COM USD0.01                | CUSIP: 445658107<br>LEI: 549300XCD1MPI1C5GK90 | Long             | EC               | CORP              | US        |    219903 | NS      | $29504385.51  | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| KLA Corp.                                   | KLA Corp. COM USD0.001                                         | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |     18859 | NS      | $20341317.40  | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| LPL Financial Holdings Inc.                 | LPL Financial Holdings Inc. COM USD0.001                       | CUSIP: 50212V100<br>LEI: 549300XROQ4Y8G2L7682 | Long             | EC               | CORP              | US        |    116148 | NS      | $38641278.12  | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Lamar Advertising Company                   | Lamar Advertising Company COM USD0.001 CL A                    | CUSIP: 512816109<br>LEI: 529900Y8WW4MKVPTB543 | Long             | EC               | CORP              | US        |    168584 | NS      | $20638053.28  | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| TransUnion                                  | TransUnion COM USD0.01                                         | CUSIP: 89400J107<br>LEI: 549300ZS772LUNUMRB03 | Long             | EC               | CORP              | US        |    159265 | NS      | $13343221.70  | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| UL Solutions Inc.                           | UL Solutions Inc. CLASS A COM SHS                              | CUSIP: 903731107<br>LEI: 549300F7CUV5ESKV9P71 | Long             | EC               | CORP              | US        |    110979 | NS      | $7863971.94   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Vaxcyte Inc                                 | Vaxcyte Inc COM                                                | CUSIP: 92243G108<br>LEI: 254900M7NMHTGASX8D95 | Long             | EC               | CORP              | US        |    202361 | NS      | $7289043.22   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Veralto Corp.                               | Veralto Corp. COM SHS                                          | CUSIP: 92338C103<br>LEI: 635400FJE6GSOJUSNY27 | Long             | EC               | CORP              | US        |    140904 | NS      | $15021775.44  | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Waters Corporation                          | Waters Corporation COM USD0.01                                 | CUSIP: 941848103<br>LEI: 5T547R1474YC9HOD8Q74 | Long             | EC               | CORP              | US        |     75221 | NS      | $22552008.01  | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| WEX Inc                                     | WEX Inc COM USD0.01                                            | CUSIP: 96208T104<br>LEI: T9M5IGROL1TL1G5OV478 | Long             | EC               | CORP              | US        |    199240 | NS      | $31386277.20  | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Topicus Com Inc                             | Topicus Com Inc SUB VTG SHS                                    | CUSIP: 89072T102<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     78142 | NS      | $8381382.32   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Burlington Stores Inc.                      | Burlington Stores Inc. COM USD0.0001                           | CUSIP: 122017106<br>LEI: 5299003Z37DVGKKC1W09 | Long             | EC               | CORP              | US        |     44283 | NS      | $11270023.50  | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Cboe Global Markets Inc                     | Cboe Global Markets Inc COM USD0.01                            | CUSIP: 12503M108<br>LEI: 529900RLNSGA90UPEH54 | Long             | EC               | CORP              | US        |     51015 | NS      | $12511428.75  | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| CDW Corp                                    | CDW Corp COM USD0.01                                           | CUSIP: 12514G108<br>LEI: 9845001B052ABF0B6755 | Long             | EC               | CORP              | US        |    107625 | NS      | $17142510.00  | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Carmax Inc                                  | Carmax Inc COM USD0.50                                         | CUSIP: 143130102<br>LEI: 529900F60CID3NCZM330 | Long             | EC               | CORP              | US        |    287418 | NS      | $12896445.66  | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Clean Harbors, Inc.                         | Clean Harbors, Inc. COM USD0.01                                | CUSIP: 184496107<br>LEI: 5493000SJVZVZJKHJF48 | Long             | EC               | CORP              | US        |     98680 | NS      | $22915469.60  | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| The Cooper Companies, Inc.                  | The Cooper Companies, Inc. COM                                 | CUSIP: 216648501<br>LEI: QJKMVPIGLH7530PCUE20 | Long             | EC               | CORP              | US        |    136639 | NS      | $9367969.84   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Corteva Inc                                 | Corteva Inc COM USD0.01                                        | CUSIP: 22052L104<br>LEI: 549300WZN9I2QKLS0O94 | Long             | EC               | CORP              | US        |    382430 | NS      | $25863740.90  | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Costar Group Inc                            | Costar Group Inc COM USD0.01                                   | CUSIP: 22160N109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    319299 | NS      | $26939256.63  | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Lantheus Holdings Inc                       | Lantheus Holdings Inc COM USD0.01                              | CUSIP: 516544103<br>LEI: 5299005HUB5IOJGO7S39 | Long             | EC               | CORP              | US        |     88748 | NS      | $4551884.92   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Media Corp Del                      | Liberty Media Corp Del COM LBTY ONE S C                        | CUSIP: 531229755<br>LEI: 549300ZKUTPIBZLWLL89 | Long             | EC               | CORP              | US        |    369896 | NS      | $38635637.20  | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Media Corp Del                      | Liberty Media Corp Del COM LBTY ONE S A                        | CUSIP: 531229771<br>LEI: 549300ZKUTPIBZLWLL89 | Long             | EC               | CORP              | US        |     54039 | NS      | $5145593.58   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Lineage Inc                                 | Lineage Inc COM                                                | CUSIP: 53566V106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    210754 | NS      | $8143534.56   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| The Charles Schwab Corporation              | The Charles Schwab Corporation COM USD0.01                     | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |    163679 | NS      | $15626434.13  | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Software Inc.                 | Constellation Software Inc. COM STK NPV                        | CUSIP: 21037X100<br>LEI: 549300B6PYHMCTDWQV29 | Long             | EC               | CORP              | CA        |     23434 | NS      | $63624278.35  | 3.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Cimpress PLC                                | Cimpress PLC SHS EURO                                          | CUSIP: G2143T103<br>LEI: 549300X1IFD75XISOR81 | Long             | EC               | CORP              | US        |    173670 | NS      | $10948156.80  | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Dayforce Inc                                | Dayforce Inc COM USD0.01                                       | CUSIP: 15677J108<br>LEI: 549300T64GVCHFJ8L449 | Long             | EC               | CORP              | US        |    507897 | NS      | $34989024.33  | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| DTE Energy Co.                              | DTE Energy Co. COM NPV                                         | CUSIP: 233331107<br>LEI: 549300IX8SD6XXD71I78 | Long             | EC               | CORP              | US        |    171329 | NS      | $24231060.47  | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Descartes Systems Group Inc.                | Descartes Systems Group Inc. COM NPV                           | CUSIP: 249906108<br>LEI: 875500NEPA7JI5EOMN45 | Long             | EC               | CORP              | US        |     95861 | NS      | $9032982.03   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Dollar Tree Inc                             | Dollar Tree Inc COM USD0.01                                    | CUSIP: 256746108<br>LEI: 549300PMSTQITB1WHR43 | Long             | EC               | CORP              | US        |    111275 | NS      | $10501021.75  | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| DoorDash Inc                                | DoorDash Inc CL A                                              | CUSIP: 25809K105<br>LEI: 549300NUQ43FGGSK5051 | Long             | EC               | CORP              | US        |     99879 | NS      | $27166089.21  | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Dynatrace Inc                               | Dynatrace Inc COM USD0.001                                     | CUSIP: 268150109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    201320 | NS      | $9753954.00   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Ferguson Enterprises Inc                    | Ferguson Enterprises Inc COMMON STOCK NEW                      | CUSIP: 31488V107<br>LEI: 2138003JYQMRP3SLX189 | Long             | EC               | CORP              | US        |    226139 | NS      | $50786296.62  | 2.77%             |  |  |  | No            |                  1 | On Loan: No      |
| FirstService Corp.                          | FirstService Corp. COM NPV                                     | CUSIP: 33767E202<br>LEI: 5493000XUDIV75BCF118 | Long             | EC               | CORP              | US        |     38378 | NS      | $7310625.22   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Gildan Activewear Inc.                      | Gildan Activewear Inc. COM NPV                                 | CUSIP: 375916103<br>LEI: 549300SB3IBI34M00Z45 | Long             | EC               | CORP              | US        |    438819 | NS      | $25363738.20  | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Payments Inc                         | Global Payments Inc COM NPV                                    | CUSIP: 37940X102<br>LEI: 549300NOMHGVQBX6S778 | Long             | EC               | CORP              | US        |    112901 | NS      | $9379815.08   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Globus Med Inc                              | Globus Med Inc COM USD0.001 CL 'A'                             | CUSIP: 379577208<br>LEI: 5299003M2P4CIK0RF205 | Long             | EC               | CORP              | US        |    173114 | NS      | $9914238.78   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| API Group Corp                              | API Group Corp COM STK                                         | CUSIP: 00187Y100<br>LEI: 213800NZT1VX6PZ7BT53 | Long             | EC               | CORP              | US        |    950921 | NS      | $32683154.77  | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Godaddy Inc                                 | Godaddy Inc COM USD0.001 CLASS A                               | CUSIP: 380237107<br>LEI: 549300J8H1TB0I2CB447 | Long             | EC               | CORP              | US        |     68957 | NS      | $9435386.31   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| ICU Medical Inc                             | ICU Medical Inc COM USD0.10                                    | CUSIP: 44930G107<br>LEI: 5493003NRW7LS2QZRH60 | Long             | EC               | CORP              | US        |    103035 | NS      | $12360078.60  | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Alliant Energy Corporation                  | Alliant Energy Corporation COM USD0.01                         | CUSIP: 018802108<br>LEI: 5493009ML300G373MZ12 | Long             | EC               | CORP              | US        |    579298 | NS      | $39050478.18  | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Ameren Corp.                                | Ameren Corp. COM USD0.01                                       | CUSIP: 023608102<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | EC               | CORP              | US        |    257926 | NS      | $26922315.88  | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Illumina Inc                                | Illumina Inc COM USD0.01                                       | CUSIP: 452327109<br>LEI: SQ95QG8SR5Q56LSNF682 | Long             | EC               | CORP              | US        |     98218 | NS      | $9327763.46   | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Ingersoll Rand Inc                          | Ingersoll Rand Inc COM                                         | CUSIP: 45687V106<br>LEI: 5299004C02FMZCUOIR50 | Long             | EC               | CORP              | US        |    352501 | NS      | $29123632.62  | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Applovin Corp.                              | Applovin Corp. COM CL A                                        | CUSIP: 03831W108<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | EC               | CORP              | US        |    125433 | NS      | $90128627.82  | 4.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Aramark                                     | Aramark COM USD0.01                                            | CUSIP: 03852U106<br>LEI: 549300MR6PG2DWZUIL39 | Long             | EC               | CORP              | US        |    767910 | NS      | $29487744.00  | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| JANUS CAPITAL GROUP INC                     | Janus Henderson Cash Liquidity Fund LLC                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | PF                | US        |  49196926 | NS      | $49206765.00  | 2.68%             |  |  |  | No            |                  2 | On Loan: No      |
| Intact Financial Corp.                      | Intact Financial Corp. COM NPV                                 | CUSIP: 45823T106<br>LEI: 5493009LXGE7Y4U9OY43 | Long             | EC               | CORP              | CA        |    273326 | NS      | $53186116.44  | 2.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Argenx SE                                   | Argenx SE SPON ADR EACH REP 1 ORD SHS                          | CUSIP: 04016X101<br>LEI: 7245009C5FZE6G9ODQ71 | Long             |  | CORP              | US        |     25538 | NS      | $18835807.28  | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Ascendis Pharma A/S                         | Ascendis Pharma A/S SPON ADR EACH REP 1 ORD SHS                | CUSIP: 04351P101<br>LEI: 549300B66JN3W3J8GH73 | Long             |  | CORP              | US        |     76622 | NS      | $15233219.82  | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Entain PLC                                  | Entain PLC ORD EUR0.01                                         | CUSIP: G3167C109<br>LEI: 213800GNI3K45LQR8L28 | Long             | EC               | CORP              | GB        |    891161 | NS      | $10445282.52  | 0.57%             |  |  |  | No            |                  2 | On Loan: No      |
| Flex Ltd.                                   | Flex Ltd. COM USD0.01                                          | CUSIP: Y2573F102<br>LEI: 549300EAQH74YHD07T53 | Long             | EC               | CORP              | US        |   1256102 | NS      | $72816232.94  | 3.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Avidity Biosciences Inc.                    | Avidity Biosciences Inc. COM                                   | CUSIP: 05370A108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    129229 | NS      | $5630507.53   | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Boston Scientific Corporation               | Boston Scientific Corporation COM USD0.01                      | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |    434358 | NS      | $42406371.54  | 2.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadridge Financial Solutions Inc.         | Broadridge Financial Solutions Inc. COM USD0.01                | CUSIP: 11133T103<br>LEI: 549300KZDJZQ2YIHRC28 | Long             | EC               | CORP              | US        |    145740 | NS      | $34710895.80  | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Amdocs Limited                              | Amdocs Limited ORD GBP0.01                                     | CUSIP: G02602103<br>LEI: 549300HQV672RJ7RQV66 | Long             | EC               | CORP              | US        |    151225 | NS      | $12408011.25  | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                         | Receive Performance on Equity.RYANAIR HOLDINGS_IE_             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |   1431064 | OU      | $803949.26    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                         | Receive Performance on Equity.RYANAIR HOLDINGS_IE_             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |   2079639 | OU      | $724542.97    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                         | Sell CAD / Buy USD                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $9010.00      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                         | Sell USD / Buy CAD                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-15945.90    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                         | Sell USD / Buy CAD                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-14652.61    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                         | Sell USD / Buy EUR                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-9003.18     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                         | Sell USD / Buy EUR                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-4293.76     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Ziff Davis Inc                              | Ziff Davis Inc COM USD0.001                                    | CUSIP: 48123V102<br>LEI: 5493008OJYGLHD7MXA18 | Long             | EC               | CORP              | US        |    123950 | NS      | $4722495.00   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Wayfair Inc                                 | Wayfair Inc COM USD0.001 A                                     | CUSIP: 94419L101<br>LEI: 54930027N9ZAVYFDHK53 | Long             | EC               | CORP              | US        |    166695 | NS      | $14890864.35  | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Workday Inc                                 | Workday Inc COM USD0.001 CL A                                  | CUSIP: 98138H101<br>LEI: 549300J0DYC0N31V7G13 | Long             | EC               | CORP              | US        |     67889 | NS      | $16342918.97  | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Willis Towers Watson Public Limited Company | Willis Towers Watson Public Limited Company COM USD0.000304635 | CUSIP: G96629103<br>LEI: 549300WHC56FF48KL350 | Long             | EC               | CORP              | US        |     49526 | NS      | $17108756.70  | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| ON Semiconductor Corp.                      | ON Semiconductor Corp. COM USD0.01                             | CUSIP: 682189105<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | EC               | CORP              | US        |    592893 | NS      | $29235553.83  | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Oneok Inc.                                  | Oneok Inc. COM USD0.01                                         | CUSIP: 682680103<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | EC               | CORP              | US        |    233841 | NS      | $17063377.77  | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| PTC Inc                                     | PTC Inc COM USD0.01                                            | CUSIP: 69370C100<br>LEI: 54930050SSMU8SKDJ030 | Long             | EC               | CORP              | US        |    193367 | NS      | $39257368.34  | 2.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Revvity Inc                                 | Revvity Inc COM USD1.00                                        | CUSIP: 714046109<br>LEI: 549300IKL1SDPFI7N655 | Long             | EC               | CORP              | US        |    435877 | NS      | $38204619.05  | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| RB Global Inc                               | RB Global Inc COM                                              | CUSIP: 74935Q107<br>LEI: 5493002H8U24DJXQ4886 | Long             | EC               | CORP              | US        |    202211 | NS      | $21911583.96  | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Rentokil Initial PLC                        | Rentokil Initial PLC SPON ADR REP 5 ORD GBP0.01                | CUSIP: 760125104<br>LEI: 549300VN4WV7Z6T14K68 | Long             |  | CORP              | US        |    521599 | NS      | $13170374.75  | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Revolution Medicines Inc                    | Revolution Medicines Inc COM                                   | CUSIP: 76155X100<br>LEI: 549300JU3X0LBCQ65892 | Long             | EC               | CORP              | US        |    162179 | NS      | $7573759.30   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryanair Holdings PLC                        | Ryanair Holdings PLC ADS EACH REPR 5 ORD EUR0.01               | CUSIP: 783513203<br>LEI: 635400BR2ROC1FVEBQ56 | Long             |  | CORP              | US        |    268905 | NS      | $16193459.10  | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| SS&C Technologies Holdings Inc.             | SS&C Technologies Holdings Inc. COM USD0.01                    | CUSIP: 78467J100<br>LEI: 529900POY8H7NPPNKK71 | Long             | EC               | CORP              | US        |    750302 | NS      | $66596805.52  | 3.63%             |  |  |  | No            |                  1 | On Loan: No      |
| StandardAero Inc.                           | StandardAero Inc. COM                                          | CUSIP: 85423L103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    408004 | NS      | $11134429.16  | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| TFI International Inc                       | TFI International Inc COM                                      | CUSIP: 87241L109<br>LEI: 5493007R9W7KO7SJN678 | Long             | EC               | CORP              | US        |    147782 | NS      | $13013682.92  | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Teledyne Technologies Inc                   | Teledyne Technologies Inc COM USD0.01                          | CUSIP: 879360105<br>LEI: 549300VSMO9KYQWDND94 | Long             | EC               | CORP              | US        |     76322 | NS      | $44727744.88  | 2.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Teleflex Incorporated                       | Teleflex Incorporated COM USD1                                 | CUSIP: 879369106<br>LEI: UUL85LWXB4NGSWWXIQ25 | Long             | EC               | CORP              | US        |    223936 | NS      | $27400808.96  | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Rentokil Initial PLC                        | Rentokil Initial PLC ORD GBP0.01                               | CUSIP: G7494G105<br>LEI: 549300VN4WV7Z6T14K68 | Long             | EC               | CORP              | GB        |   1312986 | NS      | $6633848.84   | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Ryanair Holdings PLC                        | Ryanair Holdings PLC ORD EUR0.006                              | CUSIP: G7727C186<br>LEI: 635400BR2ROC1FVEBQ56 | Long             | EC               | CORP              | IE        |    160320 | NS      | $4689520.00   | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Sensata Technologies Holding PLC            | Sensata Technologies Holding PLC COM EUR0.01                   | CUSIP: G8060N102<br>LEI: 529900MS7KFYCY9MS037 | Long             | EC               | CORP              | US        |    598656 | NS      | $18288940.80  | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Steris PLC                                  | Steris PLC ORD USD0.001                                        | CUSIP: G8473T100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     58577 | NS      | $14494292.88  | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| TE Connectivity PLC                         | TE Connectivity PLC ORD SHS                                    | CUSIP: G87052109<br>LEI: 6367003TB6K484NFHE54 | Long             | EC               | CORP              | US        |     64001 | NS      | $14050139.53  | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| NXP Semiconductors NV                       | NXP Semiconductors NV EUR0.20                                  | CUSIP: N6596X109<br>LEI: 724500M9BY5293JDF951 | Long             | EC               | CORP              | US        |    146021 | NS      | $33253362.33  | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                         | Sell USD / Buy EUR                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-1626.50     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                         | Sell CAD / Buy USD                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $11477.30     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                         | Sell EUR / Buy USD                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-32.12       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                         | Sell CAD / Buy USD                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $106014.58    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                         | Sell EUR / Buy USD                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-1628.93     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                         | Sell CAD / Buy USD                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $90810.96     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                         | Sell EUR / Buy USD                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-2565.49     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                         | Sell CAD / Buy USD                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $14761.93     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                         | Sell EUR / Buy USD                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-409.46      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                         | Sell USD / Buy CAD                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-7089.63     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                         | Sell USD / Buy EUR                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-1115.33     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                         | Sell EUR / Buy USD                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $414.17       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                         | Sell CAD / Buy USD                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $55026.87     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                         | Sell USD / Buy EUR                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $382.91       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                         | Sell CAD / Buy USD                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $58225.32     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                         | Sell CAD / Buy USD                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $43894.58     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                         | Sell EUR / Buy USD                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-4122.14     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                         | Sell USD / Buy CAD                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $-28814.27    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                         | Sell EUR / Buy USD                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $632.34       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                         | Sell USD / Buy EUR                                             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DFE              |  | US        |         1 | NC      | $1841.60      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-14

**Name of Applicant:** JANUS ASPEN SERIES

**Signature:** JESPER NERGAARD

**Name of Signer:** JESPER NERGAARD

**Title:** VP, CFO, TREASURER, AND PRINCIPAL ACCOUNTING OFFICER