# EDGAR Filing Document

**Accession Number:** 0000277751
**File Stem:** 0001193125-26-081213
**Filing Date:** 2026-2
**Character Count:** 79481
**Document Hash:** 984a4ba058c9f9ade2486c693a571f32
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-081213.hdr.sgml**: 20260227

**ACCESSION NUMBER**: 0001193125-26-081213

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260227

**DATE AS OF CHANGE**: 20260227

**PERIOD START**: 20260930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** JANUS INVESTMENT FUND
- **CENTRAL INDEX KEY:** 0000277751

**ORGANIZATION NAME:**
- **EIN:** 840592523
- **STATE OF INCORPORATION:** MA

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-01879
- **FILM NUMBER:** 26695650

**BUSINESS ADDRESS:**
- **STREET 1:** 151 DETROIT STREET
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80206
- **BUSINESS PHONE:** 303-333-3863

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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** JANUS FUND /MD/
- **DATE OF NAME CHANGE:** 19870701

## Series and Classes Contracts Data

### Janus Henderson Global Life Sciences Fund (Series ID: S000010494)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000028956 | Class T      | JAGLX           |
| C000077752 | Class A      | JFNAX           |
| C000077753 | Class C      | JFNCX           |
| C000077754 | Class I      | JFNIX           |
| C000077755 | Class S      | JFNSX           |
| C000083538 | Class D      | JNGLX           |
| C000198286 | Class N      | JFNNX           |

## Nport-Ex

**Janus Henderson Global Life Sciences Fund**

**Schedule of Investments (unaudited)**

**December 31, 2025**

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

---

| | | |
|:---|:---|:---|
|  | *Shares or* <br>*Principal Amounts*<br>| *Value* |
| Common Stocks – 98.4% |  |  |
| Biotechnology – 34.2% |  |  |
| &nbsp;&nbsp;&nbsp; 4D Molecular Therapeutics Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 842520 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $6318900 |
| &nbsp;&nbsp;&nbsp; AbbVie Inc | &nbsp;&nbsp;&nbsp;&nbsp; 794492 | &nbsp;&nbsp;&nbsp;&nbsp; 181533477 |
| &nbsp;&nbsp;&nbsp; Alnylam Pharmaceuticals Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45828 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18223504 |
| &nbsp;&nbsp;&nbsp; Amgen Inc | &nbsp;&nbsp;&nbsp;&nbsp; 351048 | &nbsp;&nbsp;&nbsp;&nbsp; 114901521 |
| &nbsp;&nbsp;&nbsp; Apogee Therapeutics Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 378258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28550914 |
| &nbsp;&nbsp;&nbsp; Arcellx Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 204283 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13319252 |
| &nbsp;&nbsp;&nbsp; Ardelyx Inc<sup>\*</sup> <br>| &nbsp;&nbsp; 3109866 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18130519 |
| &nbsp;&nbsp;&nbsp; Argenx SE (ADR)<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 167389 | &nbsp;&nbsp;&nbsp;&nbsp; 140765780 |
| &nbsp;&nbsp;&nbsp; Ascendis Pharma A/S (ADR)<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 375734 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 80121518 |
| &nbsp;&nbsp;&nbsp; Avidity Biosciences Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 733241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 52888673 |
| &nbsp;&nbsp;&nbsp; Bridgebio Pharma Inc<sup>\*</sup> <br>| &nbsp;&nbsp; 1477488 | &nbsp;&nbsp;&nbsp;&nbsp; 113013057 |
| &nbsp;&nbsp;&nbsp; Cogent Biosciences Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 408854 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14522494 |
| &nbsp;&nbsp;&nbsp; Crinetics Pharmaceuticals Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 299801 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13955737 |
| &nbsp;&nbsp;&nbsp; Dyne Therapeutics Inc<sup>\*</sup> <br>| &nbsp;&nbsp; 2519217 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 49275885 |
| &nbsp;&nbsp;&nbsp; Gilead Sciences Inc | &nbsp;&nbsp;&nbsp;&nbsp; 478997 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 58792092 |
| &nbsp;&nbsp;&nbsp; IDEAYA Biosciences Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 763325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26388145 |
| &nbsp;&nbsp;&nbsp; Immunome Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 368171 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7908313 |
| &nbsp;&nbsp;&nbsp; Insmed Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 80434 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13998733 |
| &nbsp;&nbsp;&nbsp; Janux Therapeutics Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 719025 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9922545 |
| &nbsp;&nbsp;&nbsp; LEXEO Therapeutics Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 632552 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6281241 |
| &nbsp;&nbsp;&nbsp; Madrigal Pharmaceuticals Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 131174 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 76387867 |
| &nbsp;&nbsp;&nbsp; Mirum Pharmaceuticals Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 682692 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 53925841 |
| &nbsp;&nbsp;&nbsp; Neurocrine Biosciences Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 138796 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19685437 |
| &nbsp;&nbsp;&nbsp; Nuvalent Inc - Class A<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 186488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18758828 |
| &nbsp;&nbsp;&nbsp; Olema Pharmaceuticals Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 666913 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16672825 |
| &nbsp;&nbsp;&nbsp; Praxis Precision Medicines Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 433759 | &nbsp;&nbsp;&nbsp;&nbsp; 127846128 |
| &nbsp;&nbsp;&nbsp; Protagonist Therapeutics Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 159730 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13950818 |
| &nbsp;&nbsp;&nbsp; PTC Therapeutics Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 764689 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 58085776 |
| &nbsp;&nbsp;&nbsp; Regeneron Pharmaceuticals Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23929 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18470077 |
| &nbsp;&nbsp;&nbsp; Revolution Medicines Inc<sup>\*</sup> <br>| &nbsp;&nbsp; 1294495 | &nbsp;&nbsp;&nbsp;&nbsp; 103106527 |
| &nbsp;&nbsp;&nbsp; Rhythm Pharmaceuticals Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 191235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20469794 |
| &nbsp;&nbsp;&nbsp; Scholar Rock Holding Corp<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 340484 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14998320 |
| &nbsp;&nbsp;&nbsp; Soleno Therapeutics Inc<sup>\*</sup> <br>| &nbsp;&nbsp; 1001983 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 46391813 |
| &nbsp;&nbsp;&nbsp; Travere Therapeutics Inc<sup>\*</sup> <br>| &nbsp;&nbsp; 1437191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 54915068 |
| &nbsp;&nbsp;&nbsp; United Therapeutics Corp<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 106924 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 52098719 |
| &nbsp;&nbsp;&nbsp; Vaxcyte Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 973715 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 44927210 |
| &nbsp;&nbsp;&nbsp; Vertex Pharmaceuticals Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 240492 | &nbsp;&nbsp;&nbsp;&nbsp; 109029453 |
| &nbsp;&nbsp;&nbsp; Xenon Pharmaceuticals Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 312636 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14012346 |
|  |  | &nbsp;&nbsp; 1832545147 |
| Health Care Equipment & Supplies – 17.1% |  |  |
| &nbsp;&nbsp;&nbsp; Abbott Laboratories | &nbsp;&nbsp; 1130599 | &nbsp;&nbsp;&nbsp;&nbsp; 141652749 |
| &nbsp;&nbsp;&nbsp; Becton Dickinson and Co | &nbsp;&nbsp;&nbsp;&nbsp; 166928 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32395717 |
| &nbsp;&nbsp;&nbsp; Boston Scientific Corp<sup>\*</sup> <br>| &nbsp;&nbsp; 1318073 | &nbsp;&nbsp;&nbsp;&nbsp; 125678261 |
| &nbsp;&nbsp;&nbsp; Cooper Cos Inc/The<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 321068 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26314733 |
| &nbsp;&nbsp;&nbsp; DexCom Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 423924 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28135836 |
| &nbsp;&nbsp;&nbsp; Edwards Lifesciences Corp<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 462871 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 39459753 |
| &nbsp;&nbsp;&nbsp; Glaukos Corp<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 219939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24833312 |
| &nbsp;&nbsp;&nbsp; Globus Medical Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 753721 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 65807380 |
| &nbsp;&nbsp;&nbsp; Inspire Medical Systems Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 144942 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13368001 |
| &nbsp;&nbsp;&nbsp; Insulet Corp<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10353726 |
| &nbsp;&nbsp;&nbsp; Intuitive Surgical Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 217842 | &nbsp;&nbsp;&nbsp;&nbsp; 123376995 |
| &nbsp;&nbsp;&nbsp; Lantheus Holdings Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 525258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 34955920 |
| &nbsp;&nbsp;&nbsp; Medline Inc - Class A<sup>\*,#</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 879124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36923208 |
| &nbsp;&nbsp;&nbsp; Medtronic PLC | &nbsp;&nbsp;&nbsp;&nbsp; 644860 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 61945252 |
| &nbsp;&nbsp;&nbsp; Penumbra Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 100121 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31128620 |
| &nbsp;&nbsp;&nbsp; STERIS PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 81625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20693570 |
| &nbsp;&nbsp;&nbsp; Stryker Corp | &nbsp;&nbsp;&nbsp;&nbsp; 249313 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 87626040 |
| &nbsp;&nbsp;&nbsp; Teleflex Inc | &nbsp;&nbsp;&nbsp;&nbsp; 101052 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12332386 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 916981459 |
| Health Care Providers & Services – 10.8% |  |  |
| &nbsp;&nbsp;&nbsp; AmerisourceBergen Corp | &nbsp;&nbsp;&nbsp;&nbsp; 161927 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 54690844 |
| &nbsp;&nbsp;&nbsp; Anthem Inc | &nbsp;&nbsp;&nbsp;&nbsp; 168990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 59239445 |
| &nbsp;&nbsp;&nbsp; Centene Corp<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 339642 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13976268 |
| &nbsp;&nbsp;&nbsp; CVS Health Corp | &nbsp;&nbsp; 1021515 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 81067430 |

---

------

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| | | |
|:---|:---|:---|
|  | *Shares or*<br> *Principal Amounts*<br>| *Value* |
| Common Stocks – (continued) |  |  |
| Health Care Providers & Services – (continued) |  |  |
| &nbsp;&nbsp;&nbsp; HCA Healthcare Inc | &nbsp;&nbsp;&nbsp;&nbsp; 224626 | &nbsp;&nbsp; $104868894 |
| &nbsp;&nbsp;&nbsp; Humana Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 52553 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13460400 |
| &nbsp;&nbsp;&nbsp; McKesson Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 83343 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 68365430 |
| &nbsp;&nbsp;&nbsp; UnitedHealth Group Inc | &nbsp;&nbsp;&nbsp;&nbsp; 557669 | &nbsp;&nbsp;&nbsp;&nbsp; 184092114 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 579760825 |
| Life Sciences Tools & Services – 4.7% |  |  |
| &nbsp;&nbsp;&nbsp; Danaher Corp | &nbsp;&nbsp;&nbsp;&nbsp; 415394 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 95091994 |
| &nbsp;&nbsp;&nbsp; Illumina Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 101851 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13358777 |
| &nbsp;&nbsp;&nbsp; Sotera Health Co<sup>\*</sup> <br>| &nbsp;&nbsp; 1054251 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18596988 |
| &nbsp;&nbsp;&nbsp; Thermo Fisher Scientific Inc | &nbsp;&nbsp;&nbsp;&nbsp; 212153 | &nbsp;&nbsp;&nbsp;&nbsp; 122932056 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 249979815 |
| Pharmaceuticals – 31.2% |  |  |
| &nbsp;&nbsp;&nbsp; AstraZeneca PLC | &nbsp;&nbsp; 1240485 | &nbsp;&nbsp;&nbsp;&nbsp; 228446409 |
| &nbsp;&nbsp;&nbsp; Avadel Pharmaceuticals PLC<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 476744 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10273833 |
| &nbsp;&nbsp;&nbsp; Daiichi Sankyo Co Ltd | &nbsp;&nbsp; 1647700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35096624 |
| &nbsp;&nbsp;&nbsp; Edgewise Therapeutics Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 617627 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15326414 |
| &nbsp;&nbsp;&nbsp; Eli Lilly & Co | &nbsp;&nbsp;&nbsp;&nbsp; 481268 | &nbsp;&nbsp;&nbsp;&nbsp; 517209094 |
| &nbsp;&nbsp;&nbsp; Johnson & Johnson | &nbsp;&nbsp; 1444532 | &nbsp;&nbsp;&nbsp;&nbsp; 298945897 |
| &nbsp;&nbsp;&nbsp; Novartis AG (ADR) | &nbsp;&nbsp;&nbsp;&nbsp; 971981 | &nbsp;&nbsp;&nbsp;&nbsp; 134007021 |
| &nbsp;&nbsp;&nbsp; Roche Holding AG | &nbsp;&nbsp;&nbsp;&nbsp; 275465 | &nbsp;&nbsp;&nbsp;&nbsp; 113869639 |
| &nbsp;&nbsp;&nbsp; Sanofi | &nbsp;&nbsp; 1261100 | &nbsp;&nbsp;&nbsp;&nbsp; 122338851 |
| &nbsp;&nbsp;&nbsp; Structure Therapeutics Inc (ADR)<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 574288 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 39941730 |
| &nbsp;&nbsp;&nbsp; Tarsus Pharmaceuticals Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 275745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22578001 |
| &nbsp;&nbsp;&nbsp; Terns Pharmaceuticals Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 339533 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13717133 |
| &nbsp;&nbsp;&nbsp; Teva Pharmaceutical Industries Ltd (ADR)<sup>\*</sup> <br>| &nbsp;&nbsp; 2045096 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 63827446 |
| &nbsp;&nbsp;&nbsp; UCB SA | &nbsp;&nbsp;&nbsp;&nbsp; 131102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 36563545 |
| &nbsp;&nbsp;&nbsp; Zoetis Inc | &nbsp;&nbsp;&nbsp;&nbsp; 134911 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16974502 |
|  |  | &nbsp;&nbsp; 1669116139 |
| Software – 0.4% |  |  |
| &nbsp;&nbsp;&nbsp; HeartFlow Inc<sup>\*,</sup><sup>§</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 145275 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4234766 |
| &nbsp;&nbsp;&nbsp; HeartFlow Inc - Series F<sup>\*,</sup><sup>§</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 662334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19307036 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23541802 |
| Total Common Stocks (cost $2,935,728,612) |  | &nbsp;&nbsp; 5271925187 |
| Private Placements – 0.7% |  |  |
| Biotechnology – 0.4% |  |  |
| &nbsp;&nbsp;&nbsp; Asher Biotherapeutics - Series C<sup>\*,</sup><sup>¢</sup><sup>,</sup><sup>§</sup> <br>| &nbsp;&nbsp; 2580733 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 809963 |
| &nbsp;&nbsp;&nbsp; Asher Biotherapeutics Inc<sup>\*,</sup><sup>¢</sup><sup>,</sup><sup>§</sup> <br>| &nbsp;&nbsp; 1214301 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 381109 |
| &nbsp;&nbsp;&nbsp; Attralus Inc<sup>\*,</sup><sup>¢</sup><sup>,</sup><sup>§</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 669935 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 415360 |
| &nbsp;&nbsp;&nbsp; Curevo Inc<sup>\*,</sup><sup>¢</sup><sup>,</sup><sup>§</sup> <br>| &nbsp;&nbsp; 2031087 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5330344 |
| &nbsp;&nbsp;&nbsp; Curevo Inc - Series B<sup>\*,</sup><sup>¢</sup><sup>,</sup><sup>§</sup> <br>| &nbsp;&nbsp; 1348208 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3538210 |
| &nbsp;&nbsp;&nbsp; Curevo Inc - Series B-1<sup>\*,</sup><sup>¢</sup><sup>,</sup><sup>§</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 886774 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2327232 |
| &nbsp;&nbsp;&nbsp; Element Biosciences Inc<sup>\*,</sup><sup>¢</sup><sup>,</sup><sup>§</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 425023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2461308 |
| &nbsp;&nbsp;&nbsp; Sonoma Biotherapeutics Inc - Series B<sup>\*,</sup><sup>¢</sup><sup>,</sup><sup>§</sup> <br>| &nbsp;&nbsp; 1924628 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3021666 |
| &nbsp;&nbsp;&nbsp; TwinStrand Biosciences Inc<sup>¢</sup><sup>,</sup><sup>§</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 344314 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1380527 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19665719 |
| Health Care Providers & Services – 0% |  |  |
| &nbsp;&nbsp;&nbsp; Freenome Holdings Inc - Series C<sup>\*,</sup><sup>¢</sup><sup>,</sup><sup>§</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 337474 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 997911 |
| &nbsp;&nbsp;&nbsp; Freenome Holdings Inc - Series D<sup>\*,</sup><sup>¢</sup><sup>,</sup><sup>§</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 342803 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1016205 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2014116 |
| Health Care Technology – 0.3% |  |  |
| &nbsp;&nbsp;&nbsp; Kardium Inc - Series 8 Class D Preferred shares<sup>\*,</sup><sup>¢</sup><sup>,</sup><sup>§</sup> <br>| 13234820 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12237311 |
| &nbsp;&nbsp;&nbsp; Magnolia Medical Technologies Inc - Series D<sup>\*,</sup><sup>¢</sup><sup>,</sup><sup>§</sup> <br>| &nbsp;&nbsp; 1821717 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3096919 |
| &nbsp;&nbsp;&nbsp; Magnolia Medical Technologies Inc - Series E1<sup>\*,</sup><sup>¢</sup><sup>,</sup><sup>§</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 301933 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 411790 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15746020 |
| Total Private Placements (cost $54,208,128) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 37425855 |
| Rights – 0% |  |  |
| Biotechnology – 0% |  |  |
| &nbsp;&nbsp;&nbsp; Akero Therapeutics Inc (CVR)<sup>\*,</sup><sup>¢</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 569281 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 370032 |
| &nbsp;&nbsp;&nbsp; Metsera Inc (CVR)<sup>\*,</sup><sup>¢</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 390971 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1915758 |
| Total Rights (cost $370,032) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2285790 |
| Warrants – 0% |  |  |
| Health Care Technology – 0% |  |  |
| &nbsp;&nbsp;&nbsp; Magnolia Medical Technologies Inc - Series D, expires 12/31/32<sup>\*,</sup><sup>¢</sup><sup>,</sup><sup>§</sup> (cost $0) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0 |
| Investment Companies – 0.8% |  |  |
| Money Markets – 0.8% |  |  |
| &nbsp;&nbsp;&nbsp; Janus Henderson Cash Liquidity Fund LLC, 3.7222%<sup>ºº,</sup><sup>£</sup> (cost $40,181,079) | 40171471 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 40183522 |

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------

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| | | |
|:---|:---|:---|
|  | *Shares or*<br> *Principal Amounts*<br>| *Value* |
| Investments Purchased with Cash Collateral from Securities Lending – 0.4% |  |  |
| Investment Companies – 0.3% |  |  |
| &nbsp;&nbsp;&nbsp; Janus Henderson Cash Collateral Fund LLC, 3.6894%<sup>ºº,</sup><sup>£</sup> <br>| 18730800 | &nbsp;&nbsp;&nbsp;&nbsp; $18730800 |
| Time Deposits – 0.1% |  |  |
| &nbsp;&nbsp;&nbsp; Royal Bank of Canada, 3.7000%, 1/2/26 | $4682700 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4682700 |
| Total Investments Purchased with Cash Collateral from Securities Lending (cost $23,413,500) | Total Investments Purchased with Cash Collateral from Securities Lending (cost $23,413,500) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23413500 |
| Total Investments (total cost $3,053,901,351) – 100.3% |  | &nbsp;&nbsp; 5375233854 |
| Liabilities, net of Cash, Receivables and Other Assets – (0.3)% |  | &nbsp;&nbsp;&nbsp;&nbsp; (15327911) |
| Net Assets – 100% |  | $5359905943 |

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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 | $4402094268 | &nbsp;&nbsp;&nbsp;&nbsp; 81.9<br> %<br>|
| Switzerland | 247876660 | &nbsp;&nbsp;&nbsp;&nbsp;4.6 |
| United Kingdom | 228446409 | &nbsp;&nbsp;&nbsp;&nbsp;4.2 |
| Belgium | 177329325 | &nbsp;&nbsp;&nbsp;&nbsp;3.3 |
| France | 122338851 | &nbsp;&nbsp;&nbsp;&nbsp;2.3 |
| Denmark | 80121518 | &nbsp;&nbsp;&nbsp;&nbsp;1.5 |
| Israel | 63827446 | &nbsp;&nbsp;&nbsp;&nbsp;1.2 |
| Japan | 35096624 | &nbsp;&nbsp;&nbsp;&nbsp;0.7 |
| Canada | 12237311 | &nbsp;&nbsp;&nbsp;&nbsp;0.2 |
| South Korea | 5865442 | &nbsp;&nbsp;&nbsp;&nbsp;0.1 |
| Total | $5375233854 | &nbsp;&nbsp;&nbsp;&nbsp; 100.0<br> %<br>|

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| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| ***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>*9/30/25*<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>*12/31/25*<br>| *Ending* <br>*Shares*<br>| *Dividend* <br>*Income*<br>|
| Investment Companies - 0.8% | Investment Companies - 0.8% | Investment Companies - 0.8% | Investment Companies - 0.8% | Investment Companies - 0.8% | Investment Companies - 0.8% | Investment Companies - 0.8% | Investment Companies - 0.8% | Investment Companies - 0.8% |
| Money Markets - 0.8% | Money Markets - 0.8% | Money Markets - 0.8% | Money Markets - 0.8% | Money Markets - 0.8% | Money Markets - 0.8% | Money Markets - 0.8% | Money Markets - 0.8% | Money Markets - 0.8% |
| &nbsp;&nbsp;&nbsp; Janus Henderson Cash Liquidity Fund LLC, 3.7222%<sup>ºº</sup>  | &nbsp;&nbsp;&nbsp; Janus Henderson Cash Liquidity Fund LLC, 3.7222%<sup>ºº</sup>  | &nbsp;&nbsp;&nbsp; Janus Henderson Cash Liquidity Fund LLC, 3.7222%<sup>ºº</sup>  | &nbsp;&nbsp;&nbsp; Janus Henderson Cash Liquidity Fund LLC, 3.7222%<sup>ºº</sup>  | &nbsp;&nbsp;&nbsp; Janus Henderson Cash Liquidity Fund LLC, 3.7222%<sup>ºº</sup>  | &nbsp;&nbsp;&nbsp; Janus Henderson Cash Liquidity Fund LLC, 3.7222%<sup>ºº</sup>  | &nbsp;&nbsp;&nbsp; Janus Henderson Cash Liquidity Fund LLC, 3.7222%<sup>ºº</sup>  | &nbsp;&nbsp;&nbsp; Janus Henderson Cash Liquidity Fund LLC, 3.7222%<sup>ºº</sup>  | &nbsp;&nbsp;&nbsp; Janus Henderson Cash Liquidity Fund LLC, 3.7222%<sup>ºº</sup>  |
|  | &nbsp;&nbsp; $30062294 | &nbsp;&nbsp; $215951721 | &nbsp;&nbsp; $(205835791) | &nbsp;&nbsp; $2855 | &nbsp;&nbsp; $2443 | &nbsp;&nbsp; $40183522 | &nbsp;&nbsp; 40171471 | &nbsp;&nbsp; $328336 |
| Investments Purchased with Cash Collateral from Securities Lending - 0.3% | Investments Purchased with Cash Collateral from Securities Lending - 0.3% | Investments Purchased with Cash Collateral from Securities Lending - 0.3% | Investments Purchased with Cash Collateral from Securities Lending - 0.3% | Investments Purchased with Cash Collateral from Securities Lending - 0.3% | Investments Purchased with Cash Collateral from Securities Lending - 0.3% | Investments Purchased with Cash Collateral from Securities Lending - 0.3% | Investments Purchased with Cash Collateral from Securities Lending - 0.3% | Investments Purchased with Cash Collateral from Securities Lending - 0.3% |
| Investment Companies - 0.3% | Investment Companies - 0.3% | Investment Companies - 0.3% | Investment Companies - 0.3% | Investment Companies - 0.3% | Investment Companies - 0.3% | Investment Companies - 0.3% | Investment Companies - 0.3% | Investment Companies - 0.3% |
| &nbsp;&nbsp;&nbsp; Janus Henderson Cash Collateral Fund LLC, 3.6894%<sup>ºº</sup>  | &nbsp;&nbsp;&nbsp; Janus Henderson Cash Collateral Fund LLC, 3.6894%<sup>ºº</sup>  | &nbsp;&nbsp;&nbsp; Janus Henderson Cash Collateral Fund LLC, 3.6894%<sup>ºº</sup>  | &nbsp;&nbsp;&nbsp; Janus Henderson Cash Collateral Fund LLC, 3.6894%<sup>ºº</sup>  | &nbsp;&nbsp;&nbsp; Janus Henderson Cash Collateral Fund LLC, 3.6894%<sup>ºº</sup>  | &nbsp;&nbsp;&nbsp; Janus Henderson Cash Collateral Fund LLC, 3.6894%<sup>ºº</sup>  | &nbsp;&nbsp;&nbsp; Janus Henderson Cash Collateral Fund LLC, 3.6894%<sup>ºº</sup>  | &nbsp;&nbsp;&nbsp; Janus Henderson Cash Collateral Fund LLC, 3.6894%<sup>ºº</sup>  | &nbsp;&nbsp;&nbsp; Janus Henderson Cash Collateral Fund LLC, 3.6894%<sup>ºº</sup>  |
|  | &nbsp;&nbsp; 11307042 | &nbsp;&nbsp; 31284456 | &nbsp;&nbsp; (23860698) | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; 18730800 | &nbsp;&nbsp; 18730800 | &nbsp;&nbsp; 1214 <br><sup>∆</sup><br>|
| Total Affiliated Investments - 1.1% | Total Affiliated Investments - 1.1% | Total Affiliated Investments - 1.1% | Total Affiliated Investments - 1.1% | Total Affiliated Investments - 1.1% | Total Affiliated Investments - 1.1% | Total Affiliated Investments - 1.1% | Total Affiliated Investments - 1.1% | Total Affiliated Investments - 1.1% |
|  | &nbsp;&nbsp; $41369336 | &nbsp;&nbsp; $247236177 | &nbsp;&nbsp; $(229696489) | &nbsp;&nbsp; $2855 | &nbsp;&nbsp; $2443 | &nbsp;&nbsp; $58914322 | &nbsp;&nbsp; 58902271 | &nbsp;&nbsp; $329550 |

---

------

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

---

| | |
|:---|:---|
| ADR | American Depositary Receipt |
| CVR | Contingent Value Right |
| LLC | Limited Liability Company |
| 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 December 31, 2025. |
| Loaned security; a portion of the security is on loan at December 31, 2025. |
| &nbsp;&nbsp; Security is valued using significant unobservable inputs. The total value of Level 3 securities as of the period ended December 31, 2025 is <br> $39,711,645, which represents 0.7% of net assets.<br>|
| £&nbsp;&nbsp; The Fund may invest in certain securities that are considered affiliated companies. As defined by the Investment Company Act of 1940, as <br> amended, an affiliated company is one in which the Fund owns 5% or more of the outstanding voting securities, or a company which is <br> under common ownership or control.<br>|
| Net of income paid to the securities lending agent and rebates paid to the borrowing counterparties. |
| Schedule of Restricted Securities (as of December 31, 2025) |

---

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | *Acquisition* <br>*Date*<br>| &nbsp;&nbsp; *Lock-up Agreement* <br>*Expiration Date*<br>| *Cost* | *Value* | &nbsp;&nbsp; Value as a % of Net <br>Assets<br>|
| Asher Biotherapeutics - Series C | 4/3/24 |  | $2999999 | &nbsp;&nbsp;&nbsp; $809963 | &nbsp;&nbsp;&nbsp;&nbsp; 0.0<br> %<br>|
| Asher Biotherapeutics Inc | 8/23/21 |  | 2438924 | &nbsp;&nbsp;&nbsp; 381109 | &nbsp;&nbsp;&nbsp;&nbsp;0.0 |
| Attralus Inc | 8/31/21 |  | 5198696 | &nbsp;&nbsp;&nbsp; 415360 | &nbsp;&nbsp;&nbsp;&nbsp;0.0 |
| Curevo Inc | 11/10/22 |  | 5330344 | &nbsp;&nbsp;&nbsp; 5330344 | &nbsp;&nbsp;&nbsp;&nbsp;0.1 |
| Curevo Inc - Series B | 3/6/25 - 10/28/25 |  | 3538210 | &nbsp;&nbsp;&nbsp; 3538210 | &nbsp;&nbsp;&nbsp;&nbsp;0.1 |
| Curevo Inc - Series B-1 | 2/28/25 |  | 1861786 | &nbsp;&nbsp;&nbsp; 2327232 | &nbsp;&nbsp;&nbsp;&nbsp;0.0 |
| Element Biosciences Inc | 6/21/21 |  | 8737070 | &nbsp;&nbsp;&nbsp; 2461308 | &nbsp;&nbsp;&nbsp;&nbsp;0.1 |
| Freenome Holdings Inc - Series C | 8/14/20 |  | 2231817 | &nbsp;&nbsp;&nbsp; 997911 | &nbsp;&nbsp;&nbsp;&nbsp;0.0 |
| Freenome Holdings Inc - Series D | 11/22/21 |  | 2585523 | &nbsp;&nbsp;&nbsp; 1016205 | &nbsp;&nbsp;&nbsp;&nbsp;0.0 |
| HeartFlow Inc | 6/9/25 - 9/10/25 | 2/3/26 | 2160000 | &nbsp;&nbsp;&nbsp; 4234766 | &nbsp;&nbsp;&nbsp;&nbsp;0.1 |
| HeartFlow Inc - Series F | 3/24/23 | 2/3/26 | 5512910 | &nbsp;&nbsp;&nbsp; 19307036 | &nbsp;&nbsp;&nbsp;&nbsp;0.3 |
| Kardium Inc - Series 8 Class D Preferred shares | 6/6/25 |  | 8566105 | &nbsp;&nbsp;&nbsp; 12237311 | &nbsp;&nbsp;&nbsp;&nbsp;0.2 |
| Magnolia Medical Technologies Inc - Series D, <br> 12/31/32<br>| 1/10/22 |  | 0 | &nbsp;&nbsp;&nbsp; 0 | &nbsp;&nbsp;&nbsp;&nbsp;0.0 |
| Magnolia Medical Technologies Inc - Series D | 1/10/22 |  | 3092692 | &nbsp;&nbsp;&nbsp; 3096919 | &nbsp;&nbsp;&nbsp;&nbsp;0.1 |
| Magnolia Medical Technologies Inc - Series E1 | 2/26/25 |  | 411790 | &nbsp;&nbsp;&nbsp; 411790 | &nbsp;&nbsp;&nbsp;&nbsp;0.0 |
| Sonoma Biotherapeutics Inc - Series B | 7/23/21 - 12/14/22 |  | 4465171 | &nbsp;&nbsp;&nbsp; 3021666 | &nbsp;&nbsp;&nbsp;&nbsp;0.1 |
| TwinStrand Biosciences Inc | 4/30/21 |  | 2750001 | &nbsp;&nbsp;&nbsp; 1380527 | &nbsp;&nbsp;&nbsp;&nbsp;0.0 |
| Total |  |  | $61881038 | &nbsp;&nbsp;&nbsp; $60967657 | &nbsp;&nbsp;&nbsp; 1.1% |

---

The Fund has registration rights for certain restricted securities held as of December 31, 2025. The issuer incurs all registration costs. As of December 31, 2025, the fair value of equity securities subject to a contractual sale restriction is $23,541,802, which represents 0.4% of net assets. Lock-up agreements last for 180 days, with the last one ending on

February 3, 2026. A lapse in the restriction may occur if the company decides to waive or modify the lock up agreement.

------

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

instruments as of December 31, 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* |  |  |  |
| Pharmaceuticals | $1132801071 | &nbsp;&nbsp;&nbsp; $536315068 | &nbsp;&nbsp;&nbsp; $- |
| All Other | 3602809048 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - |
| *Private Placements* | - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 37425855 |
| *Rights* | - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 2285790 |
| *Warrants* | - | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; 0 |
| *Investment Companies* | - | &nbsp;&nbsp;&nbsp; 40183522 | &nbsp;&nbsp;&nbsp; - |
| *Investments Purchased with Cash Collateral from Securities Lending* | - | &nbsp;&nbsp;&nbsp; 23413500 | &nbsp;&nbsp;&nbsp; - |
| **Total Assets** | $4735610119 | &nbsp;&nbsp;&nbsp; $599912090 | &nbsp;&nbsp;&nbsp; $39711645 |

---

------

**Investment Valuation**

Fund 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 Fund, 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 Fund, 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 Fund 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 Fund'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 Fund'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 Fund 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 December 31, 2025 to fair value the Fund's investments in securities and other financial instruments is included in the "Valuation Inputs Summary" in the Notes to Schedule of

Investments.

The Fund's management has determined the Fund did not hold a significant amount of Level 3 securities as of December 31, 2025.

------

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

statements.

125-25-70226 02-26

------

## 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 INVESTMENT FUND

- **b. Investment Company Act file number:** 811-01879

- **c. CIK number of Registrant:** 0000277751

- **d. LEI of Registrant:** W6UYDZFUOFJ4HQQ32382

- **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 Global Life Sciences Fund

- **b. EDGAR series identifier (if any):** S000010494

- **c. LEI of Series:** 5493001MPP2BKRJEGV73

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

- **a. Date of fiscal year-end:** 2026-09-30

- **b. Date as of which information is reported:** 2025-12-31

**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:** $5364099143.20

**Total Liabilities:** $4193200.37

**Net Assets:** $5359905942.83

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000028956 | 8.70%                | 9.27%                | -0.13%               |
| Class ID C000077752 | 8.69%                | 9.25%                | -0.13%               |
| Class ID C000077753 | 8.60%                | 9.21%                | -0.20%               |
| Class ID C000077754 | 8.70%                | 9.28%                | -0.11%               |
| Class ID C000077755 | 8.67%                | 9.25%                | -0.16%               |
| Class ID C000083538 | 8.71%                | 9.27%                | -0.11%               |
| Class ID C000198286 | 8.72%                | 9.28%                | -0.11%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $41268533.00             | $356807008.00                              |
| Month 2  | $60250992.00             | $398039802.00                              |
| Month 3  | $65615642.00             | $-72054939.00                              |

**Designated Index Information**

- **Index Name:** MSCI THE WORLD INDEX / Health Care

- **Index Identifier:** MSCI.MC.MXWO0HC

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Loadsmart Inc                                 | Curevo Inc - Series B                                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |   1348208 | NS      | $3538210.11   | 0.07%             |  |  |  | Yes           |                  3 | On Loan: No      |
| PFIZER INC                                    | PFIZER INC-CVR                                                  | CUSIP: N/A<br>LEI: N/A                        | Long             |  | CORP              | US        |    390971 | NS      | $1915757.90   | 0.04%             |  |  |  | No            |                  3 | On Loan: No      |
| Magnolia Medical Technologies                 | Magnolia Medical Technologies                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |         1 | NS      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Novo Nordisk A/S                              | NOVO NORDISK A/S - CVR                                          | CUSIP: N/A<br>LEI: N/A                        | Long             |  | CORP              | US        |    569281 | NS      | $370032.65    | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| Magnolia Medical Technologies                 | Magnolia Medical Technologies                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |   1821717 | NS      | $3096918.90   | 0.06%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Madrigal Pharmaceuticals Inc                  | Madrigal Pharmaceuticals Inc USD0.0001                          | CUSIP: 558868105<br>LEI: 549300CHIMT2EUSNJB60 | Long             | EC               | CORP              | US        |    131174 | NS      | $76387867.16  | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Mckesson Corp.                                | Mckesson Corp. COM USD0.01                                      | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |     83343 | NS      | $68365429.47  | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Medline Inc.                                  | Medline Inc. COM CL A                                           | CUSIP: 58507V107<br>LEI: 984500FAN6J1P8566D43 | Long             | EC               | CORP              | US        |    879124 | NS      | $36923208.00  | 0.69%             |  |  |  | No            |                  1 | On Loan: —       |
| Mirum Pharmaceuticals Inc.                    | Mirum Pharmaceuticals Inc. COM USD0.0001                        | CUSIP: 604749101<br>LEI: 254900YZKR40F7F27K81 | Long             | EC               | CORP              | US        |    682692 | NS      | $53925841.08  | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Neurocrine Biosciences Inc                    | Neurocrine Biosciences Inc COM USD0.001                         | CUSIP: 64125C109<br>LEI: 549300FECER0XBN49756 | Long             | EC               | CORP              | US        |    138796 | NS      | $19685436.68  | 0.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Novartis AG                                   | Novartis AG ADR-REP 1 CHF0.5 (REGD)                             | CUSIP: 66987V109<br>LEI: 5493007HIVTX6SY6XD66 | Long             |  | CORP              | US        |    971981 | NS      | $134007020.47 | 2.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Nuvalent Inc                                  | Nuvalent Inc COM                                                | CUSIP: 670703107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    186488 | NS      | $18758827.92  | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Olema Pharmaceuticals Inc.                    | Olema Pharmaceuticals Inc. COM                                  | CUSIP: 68062P106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    666913 | NS      | $16672825.00  | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| PTC Therapeutics, Inc.                        | PTC Therapeutics, Inc. COM USD0.001                             | CUSIP: 69366J200<br>LEI: 549300UJLWOIWFDGB318 | Long             | EC               | CORP              | US        |    764689 | NS      | $58085776.44  | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Penumbra Inc.                                 | Penumbra Inc. COM USD0.001                                      | CUSIP: 70975L107<br>LEI: 549300RGE06P3ECANU72 | Long             | EC               | CORP              | US        |    100121 | NS      | $31128620.11  | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Praxis Precision Medicines Inc                | Praxis Precision Medicines Inc COM NEW                          | CUSIP: 74006W207<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    433759 | NS      | $127846127.66 | 2.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Protagonist Therapeutics Inc                  | Protagonist Therapeutics Inc COM USD0.00001                     | CUSIP: 74366E102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    159730 | NS      | $13950818.20  | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Regeneron Pharmaceuticals, Inc.               | Regeneron Pharmaceuticals, Inc. COM USD0.001                    | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               | CORP              | US        |     23929 | NS      | $18470077.23  | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic PLC                                 | Medtronic PLC USD0.0001                                         | CUSIP: G5960L103<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | US        |    644860 | NS      | $61945251.60  | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Alnylam Pharmaceuticals Inc.                  | Alnylam Pharmaceuticals Inc. COM USD0.01                        | CUSIP: 02043Q107<br>LEI: 529900S3ZI14OWRJII50 | Long             | EC               | CORP              | US        |     45828 | NS      | $18223504.20  | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Elevance Health Inc.                          | Elevance Health Inc. COM USD0.01                                | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |    168990 | NS      | $59239444.50  | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Apogee Therapeutics Inc.                      | Apogee Therapeutics Inc. COM                                    | CUSIP: 03770N101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    378258 | NS      | $28550913.84  | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Arcellx Inc                                   | Arcellx Inc COMMON STOCK                                        | CUSIP: 03940C100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    204283 | NS      | $13319251.60  | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Abbott Laboratories                           | Abbott Laboratories COM NPV                                     | CUSIP: 002824100<br>LEI: HQD377W2YR662HK5JX27 | Long             | EC               | CORP              | US        |   1130599 | NS      | $141652748.71 | 2.64%             |  |  |  | No            |                  1 | On Loan: No      |
| AbbVie Inc.                                   | AbbVie Inc. COM USD0.01                                         | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |    794492 | NS      | $181533477.08 | 3.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Ardelyx Inc                                   | Ardelyx Inc COM USD0.0001                                       | CUSIP: 039697107<br>LEI: 549300F542QR4SXHCY32 | Long             | EC               | CORP              | US        |   3109866 | NS      | $18130518.78  | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Dyne Therapeutics Inc.                        | Dyne Therapeutics Inc. COM                                      | CUSIP: 26818M108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   2519217 | NS      | $49275884.52  | 0.92%             |  |  |  | No            |                  1 | On Loan: No      |
| United Therapeutics Corporation               | United Therapeutics Corporation COM USD0.01                     | CUSIP: 91307C102<br>LEI: 5299005C4HZL4UWROC14 | Long             | EC               | CORP              | US        |    106924 | NS      | $52098719.00  | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Vaxcyte Inc                                   | Vaxcyte Inc COM                                                 | CUSIP: 92243G108<br>LEI: 254900M7NMHTGASX8D95 | Long             | EC               | CORP              | US        |    973715 | NS      | $44927210.10  | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertex Pharmaceuticals Incorporated           | Vertex Pharmaceuticals Incorporated COM USD0.01                 | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |    240492 | NS      | $109029453.12 | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Xenon Pharmaceuticals Inc                     | Xenon Pharmaceuticals Inc COM NPV                               | CUSIP: 98420N105<br>LEI: 549300XV44Q9Z1MIPQ03 | Long             | EC               | CORP              | US        |    312636 | NS      | $14012345.52  | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Edgewise Therapeutics Inc.                    | Edgewise Therapeutics Inc. COM                                  | CUSIP: 28036F105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    617627 | NS      | $15326414.01  | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly & Co.                               | Eli Lilly & Co. COM NPV                                         | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |    481268 | NS      | $517209094.24 | 9.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Align Technology Inc.                         | Align Technology Inc. COM USD0.0001                             | CUSIP: 016255101<br>LEI: 549300N5YSE0U3LCP840 | Long             | EC               | CORP              | US        |      7287 | NS      | $1137865.05   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Cencora Inc                                   | Cencora Inc COM USD0.01                                         | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |    161927 | NS      | $54690844.25  | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Amgen Inc.                                    | Amgen Inc. COM USD0.0001                                        | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |    351048 | NS      | $114901520.88 | 2.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Argenx SE                                     | Argenx SE SPON ADR EACH REP 1 ORD SHS                           | CUSIP: 04016X101<br>LEI: 7245009C5FZE6G9ODQ71 | Long             |  | CORP              | US        |    167389 | NS      | $140765779.55 | 2.63%             |  |  |  | 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        |    375734 | NS      | $80121518.16  | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Avidity Biosciences Inc.                      | Avidity Biosciences Inc. COM                                    | CUSIP: 05370A108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    733241 | NS      | $52888673.33  | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Zoetis Inc.                                   | Zoetis Inc. COM USD0.01 CL 'A'                                  | CUSIP: 98978V103<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | EC               | CORP              | US        |    134911 | NS      | $16974502.02  | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Magnolia Medical Technologies                 | Magnolia Medical Technologies                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     37748 | NS      | $37.75        | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Becton, Dickinson and Company                 | Becton, Dickinson and Company COM USD1.00                       | CUSIP: 075887109<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | EC               | CORP              | US        |    166928 | NS      | $32395716.96  | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| AstraZeneca PLC                               | AstraZeneca PLC ORD USD0.25                                     | CUSIP: G0593M107<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |   1240485 | NS      | $228446409.25 | 4.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Boston Scientific Corporation                 | Boston Scientific Corporation COM USD0.01                       | CUSIP: 101137107<br>LEI: Y6ZDD9FP4P8JSSJMW954 | Long             | EC               | CORP              | US        |   1318073 | NS      | $125678260.55 | 2.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Bridgebio Pharma Inc                          | Bridgebio Pharma Inc COM USD0.001                               | CUSIP: 10806X102<br>LEI: 54930028YG89VTY2J114 | Long             | EC               | CORP              | US        |   1477488 | NS      | $113013057.12 | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Sanofi SA                                     | Sanofi SA EUR2                                                  | CUSIP: F5548N101<br>LEI: 549300E9PC51EN656011 | Long             | EC               | CORP              | FR        |   1261100 | NS      | $122338850.44 | 2.28%             |  |  |  | No            |                  2 | On Loan: No      |
| Roche Holding AG                              | Roche Holding AG GENUSSCHEINE NPV                               | CUSIP: H69293217<br>LEI: 549300U41AUUVOAAOB37 | Long             | EP               | CORP              | CH        |    275465 | NS      | $113869638.68 | 2.12%             |  |  |  | No            |                  2 | On Loan: No      |
| CVS Health Corp                               | CVS Health Corp COM USD0.01                                     | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |   1021515 | NS      | $81067430.40  | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Centene Corp.                                 | Centene Corp. COM USD0.001                                      | CUSIP: 15135B101<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | EC               | CORP              | US        |    339642 | NS      | $13976268.30  | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Cogent Biosciences Inc.                       | Cogent Biosciences Inc. COM                                     | CUSIP: 19240Q201<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    408854 | NS      | $14522494.08  | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| The Cooper Companies, Inc.                    | The Cooper Companies, Inc. COM                                  | CUSIP: 216648501<br>LEI: QJKMVPIGLH7530PCUE20 | Long             | EC               | CORP              | US        |    321068 | NS      | $26314733.28  | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Revolution Medicines Inc                      | Revolution Medicines Inc COM                                    | CUSIP: 76155X100<br>LEI: 549300JU3X0LBCQ65892 | Long             | EC               | CORP              | US        |   1294495 | NS      | $103106526.75 | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Rhythm Pharmaceuticals Inc                    | Rhythm Pharmaceuticals Inc COM USD0.001                         | CUSIP: 76243J105<br>LEI: 529900JPNWXQ8DPLA551 | Long             | EC               | CORP              | US        |    191235 | NS      | $20469794.40  | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Crinetics Pharmaceuticals Inc.                | Crinetics Pharmaceuticals Inc. COM USD0.001                     | CUSIP: 22663K107<br>LEI: 549300Q1CNFXK5P31D28 | Long             | EC               | CORP              | US        |    299801 | NS      | $13955736.55  | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Danaher Corporation                           | Danaher Corporation COM USD0.01                                 | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |    415394 | NS      | $95091994.48  | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| DexCom Inc                                    | DexCom Inc COM USD0.001                                         | CUSIP: 252131107<br>LEI: 549300YSK3QDSFR5EU59 | Long             | EC               | CORP              | US        |    423924 | NS      | $28135835.88  | 0.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Edwards Lifesciences Corporation              | Edwards Lifesciences Corporation COM USD1                       | CUSIP: 28176E108<br>LEI: YA13X31F3V31L8TMPR58 | Long             | EC               | CORP              | US        |    462871 | NS      | $39459752.75  | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Element Biosciences Inc                       | Element Biosciences Inc                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |    425023 | NS      | $2461308.19   | 0.05%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Attralus Inc                                  | Attralus Inc                                                    | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |    669935 | NS      | $415359.70    | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Sonoma Biotherapeutics Inc                    | Sonoma Biotherapeutics Inc - Series B-1                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |    669428 | NS      | $1051001.96   | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| KARDIUM SERIES 8 CLASS D PREFERRED SHARES USD | Kardium Inc - Series 8 Class D Preferred shares                 | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | CA        |  13234820 | NS      | $12237311.62  | 0.23%             |  |  |  | Yes           |                  3 | On Loan: No      |
| KARDIUM SERIES 8 CLASS D PREFERRED SHARES USD | HeartFlow Inc                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    131576 | NS      | $3835440.40   | 0.07%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Sonoma Biotherapeutics Inc                    | Sonoma Biotherapeutics Inc - Series B                           | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |   1255200 | NS      | $1970664.00   | 0.04%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Lantheus Holdings Inc                         | Lantheus Holdings Inc COM USD0.01                               | CUSIP: 516544103<br>LEI: 5299005HUB5IOJGO7S39 | Long             | EC               | CORP              | US        |    525258 | NS      | $34955919.90  | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Lexeo Therapeutics Inc                        | Lexeo Therapeutics Inc COM                                      | CUSIP: 52886X107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    632552 | NS      | $6281241.36   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Scholar Rock Holding Corp.                    | Scholar Rock Holding Corp. COM USD0.001                         | CUSIP: 80706P103<br>LEI: 549300Z1FLPGL4OWJ459 | Long             | EC               | CORP              | US        |    340484 | NS      | $14998320.20  | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Soleno Therapeutics Inc                       | Soleno Therapeutics Inc COM                                     | CUSIP: 834203309<br>LEI: 5493003LCY77N7FXK844 | Long             | EC               | CORP              | US        |   1001983 | NS      | $46391812.90  | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Sotera Health Company                         | Sotera Health Company COM                                       | CUSIP: 83601L102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1054251 | NS      | $18596987.64  | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Stryker Corporation                           | Stryker Corporation COM USD0.10                                 | CUSIP: 863667101<br>LEI: 5493002F0SC4JTBU5137 | Long             | EC               | CORP              | US        |    249313 | NS      | $87626040.11  | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Structure Therapeutics Inc                    | Structure Therapeutics Inc SPONSORED ADS                        | CUSIP: 86366E106<br>LEI: N/A                  | Long             |  | CORP              | US        |    574288 | NS      | $39941730.40  | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Tarsus Pharmaceuticals Inc                    | Tarsus Pharmaceuticals Inc COM                                  | CUSIP: 87650L103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    275745 | NS      | $22578000.60  | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Teleflex Incorporated                         | Teleflex Incorporated COM USD1                                  | CUSIP: 879369106<br>LEI: UUL85LWXB4NGSWWXIQ25 | Long             | EC               | CORP              | US        |    101052 | NS      | $12332386.08  | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Terns Pharmaceuticals Inc.                    | Terns Pharmaceuticals Inc. COM                                  | CUSIP: 880881107<br>LEI: 254900S1ZDQMF4MYP709 | Long             | EC               | CORP              | US        |    339533 | NS      | $13717133.20  | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Teva Pharmaceutical Industries Ltd.           | Teva Pharmaceutical Industries Ltd. SPON ADS EACH REP 1 ORD SHS | CUSIP: 881624209<br>LEI: 549300BAFGM4RC74ZJ94 | Long             |  | CORP              | US        |   2045096 | NS      | $63827446.16  | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Thermo Fisher Scientific Inc                  | Thermo Fisher Scientific Inc COM USD1                           | CUSIP: 883556102<br>LEI: HCHV7422L5HDJZCRFL38 | Long             | EC               | CORP              | US        |    212153 | NS      | $122932055.85 | 2.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Travere Therapeutics Inc                      | Travere Therapeutics Inc COM                                    | CUSIP: 89422G107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |   1437191 | NS      | $54915068.11  | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Steris PLC                                    | Steris PLC ORD USD0.001                                         | CUSIP: G8473T100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     81625 | NS      | $20693570.00  | 0.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Freenome Holdings Inc                         | Freenome Holdings Inc - Series D                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |    342803 | NS      | $1016205.21   | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Asher Biotherapeutics Inc                     | Asher Biotherapeutics - Series C                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |   2580733 | NS      | $809963.05    | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Twinstrand Biosciences Inc                    | TwinStrand Biosciences Inc                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |    344314 | NS      | $1380526.98   | 0.03%             |  |  |  | Yes           |                  3 | On Loan: No      |
| 4D Molecular Therapeutics Inc                 | 4D Molecular Therapeutics Inc COM                               | CUSIP: 35104E100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    842520 | NS      | $6318900.00   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| KARDIUM SERIES 8 CLASS D PREFERRED SHARES USD | HeartFlow Inc                                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     13699 | NS      | $399325.85    | 0.01%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Green Cross Holdings Corp                     | Curevo Inc                                                      | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |   2031087 | NS      | $5330344.10   | 0.10%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Gilead Sciences Inc.                          | Gilead Sciences Inc. COM USD0.001                               | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |    478997 | NS      | $58792091.78  | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Asher Biotherapeutics Inc                     | Asher Biotherapeutics Inc                                       | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |   1214301 | NS      | $381108.37    | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Hemoshear Therapeutics LLC                    | Magnolia Medical Technologies                                   | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |    301933 | NS      | $411789.81    | 0.01%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Green Cross Holdings Corp                     | Curevo Inc - Series B-1                                         | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |    886774 | NS      | $2327231.95   | 0.04%             |  |  |  | Yes           |                  3 | On Loan: No      |
| Freenome Holdings Inc                         | Freenome Holdings Inc - Series C                                | CUSIP: N/A<br>LEI: N/A                        | Long             | EP               | CORP              | US        |    337474 | NS      | $997910.62    | 0.02%             |  |  |  | Yes           |                  3 | On Loan: No      |
| UCB SA                                        | UCB SA NPV                                                      | CUSIP: B93562120<br>LEI: 2138008J191VLSGY5A09 | Long             | EC               | CORP              | BE        |    131102 | NS      | $36563544.57  | 0.68%             |  |  |  | No            |                  2 | On Loan: No      |
| HeartFlow Inc                                 | HeartFlow Inc - Series F                                        | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |    662334 | NS      | $19307036.10  | 0.36%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Glaukos Corp.                                 | Glaukos Corp. COM USD0.001                                      | CUSIP: 377322102<br>LEI: 5299004JA1LHE21M6T14 | Long             | EC               | CORP              | US        |    219939 | NS      | $24833312.49  | 0.46%             |  |  |  | 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        |    753721 | NS      | $65807380.51  | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| HCA Healthcare Inc                            | HCA Healthcare Inc COM USD0.01                                  | CUSIP: 40412C101<br>LEI: 529900PH4ZGUH2MNEU89 | Long             | EC               | CORP              | US        |    224626 | NS      | $104868894.36 | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Humana Inc.                                   | Humana Inc. COM USD0.166                                        | CUSIP: 444859102<br>LEI: 529900YLDW34GJAO4J06 | Long             | EC               | CORP              | US        |     52553 | NS      | $13460399.89  | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| IDEAYA Biosciences Inc.                       | IDEAYA Biosciences Inc. COM USD0.0001                           | CUSIP: 45166A102<br>LEI: 549300ULW08F62IJML11 | Long             | EC               | CORP              | US        |    763325 | NS      | $26388145.25  | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Illumina Inc                                  | Illumina Inc COM USD0.01                                        | CUSIP: 452327109<br>LEI: SQ95QG8SR5Q56LSNF682 | Long             | EC               | CORP              | US        |    101851 | NS      | $13358777.16  | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Immunome Inc                                  | Immunome Inc COM                                                | CUSIP: 45257U108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    368171 | NS      | $7908313.08   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Insmed Inc                                    | Insmed Inc COM USD0.01                                          | CUSIP: 457669307<br>LEI: 529900Q55QAG41CCAC11 | Long             | EC               | CORP              | US        |     80434 | NS      | $13998733.36  | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Inspire Medical Systems Inc                   | Inspire Medical Systems Inc COM USD0.001                        | CUSIP: 457730109<br>LEI: 549300XQQCQ7HCJKTW25 | Long             | EC               | CORP              | US        |    144942 | NS      | $13368000.66  | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Insulet Corporation                           | Insulet Corporation COM STK USD0.001                            | CUSIP: 45784P101<br>LEI: 549300TZTYD2PYN92D43 | Long             | EC               | CORP              | US        |     36426 | NS      | $10353726.24  | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuitive Surgical Inc.                       | Intuitive Surgical Inc. COM USD0.001                            | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |    217842 | NS      | $123376995.12 | 2.30%             |  |  |  | No            |                  1 | On Loan: No      |
| UnitedHealth Group Inc.                       | UnitedHealth Group Inc. COM USD0.01                             | CUSIP: 91324P102<br>LEI: 549300GHBMY8T5GXDE41 | Long             | EC               | CORP              | US        |    557669 | NS      | $184092113.59 | 3.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Daiichi Sankyo Co Ltd.                        | Daiichi Sankyo Co Ltd. NPV                                      | CUSIP: J11257102<br>LEI: 353800XGIU2IHQGC9504 | Long             | EC               | CORP              | JP        |   1647700 | NS      | $35096624.18  | 0.65%             |  |  |  | No            |                  2 | On Loan: No      |
| Avadel Pharmaceuticals PLC                    | Avadel Pharmaceuticals PLC COM SHS                              | CUSIP: G29687103<br>LEI: 549300E27PTSG2RHC762 | Long             | EC               | CORP              | US        |    476744 | NS      | $10273833.20  | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Janux Therapeutics Inc                        | Janux Therapeutics Inc COM                                      | CUSIP: 47103J105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    719025 | NS      | $9922545.00   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson                             | Johnson & Johnson COM USD1.00                                   | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |   1444532 | NS      | $298945897.40 | 5.58%             |  |  |  | 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        |  40171471 | NS      | $40183522.12  | 0.75%             |  |  |  | No            |                  2 | On Loan: No      |
| Janus Henderson Cash Collateral Fund          | Janus Henderson Cash Collateral Fund                            | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | PF                | US        |  18730800 | NS      | $18730800.00  | 0.35%             |  |  |  | No            |                  2 | On Loan: No      |
| N/A                                           | Royal Bank of Canada                                            | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | CORP              | US        |   4682700 | PA      | $4682700.00   | 0.09%             | 2026-01-02      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-02-13

**Name of Applicant:** JANUS INVESTMENT FUND

**Signature:** JESPER NERGAARD

**Name of Signer:** JESPER NERGAARD

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