# EDGAR Filing Document

**Accession Number:** 0000277751
**File Stem:** 0001193125-25-301779
**Filing Date:** 2025-11
**Character Count:** 77086
**Document Hash:** b1bff40b779154c19a2c021b9b5af8bc
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-301779.hdr.sgml**: 20251128

**ACCESSION NUMBER**: 0001193125-25-301779

**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**: 20260630

**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:** 251534185

**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 Adaptive Risk Managed U.S. Equity Fund (Series ID: S000025898)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000077645 | Class A      | JRSAX           |
| C000077646 | Class C      | JRSCX           |
| C000077647 | Class I      | JRSIX           |
| C000077648 | Class S      | JRSSX           |
| C000077649 | Class T      | JRSTX           |
| C000147334 | Class N      | JRSNX           |
| C000150517 | Class D      | JRSDX           |

## Nport-Ex

**Janus Henderson Adaptive Risk Managed U.S. Equity Fund**

**Schedule of Investments (unaudited)**

**September 30, 2025**

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

---

| | | |
|:---|:---|:---|
|  | *Shares or* <br>*Principal Amounts*<br>| *Value* |
| Common Stocks – 98.4% |  |  |
| Aerospace & Defense – 2.3% |  |  |
| &nbsp;&nbsp;&nbsp; BWX Technologies Inc | &nbsp;&nbsp;&nbsp;&nbsp; 1294 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $238575 |
| &nbsp;&nbsp;&nbsp; HEICO Corp | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 426 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 137521 |
| &nbsp;&nbsp;&nbsp; Huntington Ingalls Industries Inc | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 699 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 201249 |
| &nbsp;&nbsp;&nbsp; L3Harris Technologies Inc | &nbsp;&nbsp; 40928 | &nbsp;&nbsp;&nbsp;&nbsp; 12499821 |
| &nbsp;&nbsp;&nbsp; Lockheed Martin Corp | &nbsp;&nbsp;&nbsp;&nbsp; 2358 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1177137 |
| &nbsp;&nbsp;&nbsp; Textron Inc | &nbsp;&nbsp;&nbsp;&nbsp; 3561 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 300869 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 14555172 |
| Air Freight & Logistics – 0.1% |  |  |
| &nbsp;&nbsp;&nbsp; United Parcel Service Inc | &nbsp;&nbsp;&nbsp;&nbsp; 9334 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 779669 |
| Auto Components – 0% |  |  |
| &nbsp;&nbsp;&nbsp; Aptive PLC<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 2986 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 257453 |
| Automobiles – 3.2% |  |  |
| &nbsp;&nbsp;&nbsp; Ferrari NV | &nbsp;&nbsp; 19325 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9376877 |
| &nbsp;&nbsp;&nbsp; Tesla Inc<sup>\*</sup> <br>| &nbsp;&nbsp; 24470 | &nbsp;&nbsp;&nbsp;&nbsp; 10882298 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 20259175 |
| Banks – 8.8% |  |  |
| &nbsp;&nbsp;&nbsp; Bank of America Corp | 249499 | &nbsp;&nbsp;&nbsp;&nbsp; 12871653 |
| &nbsp;&nbsp;&nbsp; Bank of Nova Scotia | &nbsp;&nbsp;&nbsp;&nbsp; 1671 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 108030 |
| &nbsp;&nbsp;&nbsp; Canadian Imperial Bank of Commerce | 112914 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9020700 |
| &nbsp;&nbsp;&nbsp; Citigroup Inc | &nbsp;&nbsp; 41540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4216310 |
| &nbsp;&nbsp;&nbsp; JPMorgan Chase & Co | &nbsp;&nbsp; 66130 | &nbsp;&nbsp;&nbsp;&nbsp; 20859386 |
| &nbsp;&nbsp;&nbsp; Royal Bank of Canada | &nbsp;&nbsp;&nbsp;&nbsp; 1372 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 202123 |
| &nbsp;&nbsp;&nbsp; Toronto-Dominion Bank/The | 112914 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9027474 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 56305676 |
| Biotechnology – 0% |  |  |
| &nbsp;&nbsp;&nbsp; Moderna Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 4741 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 122460 |
| &nbsp;&nbsp;&nbsp; Revolution Medicines Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 3104 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 144957 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 267417 |
| Building Products – 0.9% |  |  |
| &nbsp;&nbsp;&nbsp; Trane Technologies PLC | &nbsp;&nbsp; 13157 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5551728 |
| Capital Markets – 8.0% |  |  |
| &nbsp;&nbsp;&nbsp; Blackrock Inc | &nbsp;&nbsp;&nbsp;&nbsp; 3423 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3990773 |
| &nbsp;&nbsp;&nbsp; Cboe Global Markets Inc | &nbsp;&nbsp; 40488 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9929682 |
| &nbsp;&nbsp;&nbsp; Goldman Sachs Group Inc | &nbsp;&nbsp;&nbsp;&nbsp; 6250 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4977187 |
| &nbsp;&nbsp;&nbsp; Interactive Brokers Group Inc | &nbsp;&nbsp; 38483 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2648015 |
| &nbsp;&nbsp;&nbsp; Intercontinental Exchange Inc | &nbsp;&nbsp; 52418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8831385 |
| &nbsp;&nbsp;&nbsp; Moody's Corp | &nbsp;&nbsp; 19481 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9282307 |
| &nbsp;&nbsp;&nbsp; Nasdaq Inc | &nbsp;&nbsp; 92040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8140938 |
| &nbsp;&nbsp;&nbsp; S&P Global Inc | &nbsp;&nbsp;&nbsp;&nbsp; 7053 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3432766 |
| &nbsp;&nbsp;&nbsp; UBS Group AG | &nbsp;&nbsp;&nbsp;&nbsp; 2830 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 116030 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 51349083 |
| Chemicals – 0.5% |  |  |
| &nbsp;&nbsp;&nbsp; Corteva Inc | &nbsp;&nbsp;&nbsp;&nbsp; 9684 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 654929 |
| &nbsp;&nbsp;&nbsp; Linde PLC | &nbsp;&nbsp;&nbsp;&nbsp; 5576 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2648600 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3303529 |
| Commercial Services & Supplies – 0.3% |  |  |
| &nbsp;&nbsp;&nbsp; Republic Services Inc | &nbsp;&nbsp;&nbsp;&nbsp; 3355 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 769905 |
| &nbsp;&nbsp;&nbsp; Waste Management Inc | &nbsp;&nbsp;&nbsp;&nbsp; 5260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1161566 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1931471 |
| Diversified Financial Services – 4.4% |  |  |
| &nbsp;&nbsp;&nbsp; Berkshire Hathaway Inc - Class B<sup>\*</sup> <br>| &nbsp;&nbsp; 32126 | &nbsp;&nbsp;&nbsp;&nbsp; 16151025 |
| &nbsp;&nbsp;&nbsp; Mastercard Inc - Class A | &nbsp;&nbsp; 21118 | &nbsp;&nbsp;&nbsp;&nbsp; 12012130 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 28163155 |
| Diversified Telecommunication Services – 0.4% |  |  |
| &nbsp;&nbsp;&nbsp; AT&T Inc | &nbsp;&nbsp; 78180 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2207803 |
| Electric Utilities – 1.8% |  |  |
| &nbsp;&nbsp;&nbsp; Entergy Corp | &nbsp;&nbsp;&nbsp;&nbsp; 8592 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 800688 |
| &nbsp;&nbsp;&nbsp; Exelon Corp | 193574 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8712766 |
| &nbsp;&nbsp;&nbsp; Southern Co | &nbsp;&nbsp; 18371 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1741020 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 11254474 |
| Electrical Equipment – 2.5% |  |  |
| &nbsp;&nbsp;&nbsp; Eaton Corp PLC | &nbsp;&nbsp; 15544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5817342 |

---

------

---

| | | |
|:---|:---|:---|
|  | *Shares or*<br> *Principal Amounts*<br>| *Value* |
| Common Stocks – (continued) |  |  |
| Electrical Equipment – (continued) |  |  |
| &nbsp;&nbsp;&nbsp; Emerson Electric Co | &nbsp;&nbsp; 74352 | &nbsp;&nbsp;&nbsp;&nbsp; $9753495 |
| &nbsp;&nbsp;&nbsp; Generac Holdings Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 806 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 134925 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 15705762 |
| Electronic Equipment, Instruments & Components – 0.4% |  |  |
| &nbsp;&nbsp;&nbsp; Jabil Inc | &nbsp;&nbsp; 12633 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2743509 |
| Entertainment – 1.5% |  |  |
| &nbsp;&nbsp;&nbsp; Take-Two Interactive Software Inc<sup>\*</sup> <br>| &nbsp;&nbsp; 37957 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9806571 |
| Food & Staples Retailing – 4.3% |  |  |
| &nbsp;&nbsp;&nbsp; Albertsons Cos Inc - Class A | &nbsp;&nbsp;&nbsp;&nbsp; 9954 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 174295 |
| &nbsp;&nbsp;&nbsp; Costco Wholesale Corp | &nbsp;&nbsp; 13521 | &nbsp;&nbsp;&nbsp;&nbsp; 12515443 |
| &nbsp;&nbsp;&nbsp; Maplebear Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 2736 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100575 |
| &nbsp;&nbsp;&nbsp; Walmart Inc | 139558 | &nbsp;&nbsp;&nbsp;&nbsp; 14382848 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 27173161 |
| Food Products – 0.4% |  |  |
| &nbsp;&nbsp;&nbsp; General Mills Inc | &nbsp;&nbsp; 13433 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 677292 |
| &nbsp;&nbsp;&nbsp; JM Smucker Co | &nbsp;&nbsp; 13727 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1490752 |
| &nbsp;&nbsp;&nbsp; Tyson Foods Inc | &nbsp;&nbsp;&nbsp;&nbsp; 6692 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 363376 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2531420 |
| Gas Utilities – 0% |  |  |
| &nbsp;&nbsp;&nbsp; UGI Corp | &nbsp;&nbsp;&nbsp;&nbsp; 7071 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 235181 |
| Health Care Equipment & Supplies – 0.7% |  |  |
| &nbsp;&nbsp;&nbsp; Edwards Lifesciences Corp<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 7260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 564610 |
| &nbsp;&nbsp;&nbsp; IDEXX Laboratories Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 856 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 546890 |
| &nbsp;&nbsp;&nbsp; Stryker Corp | &nbsp;&nbsp;&nbsp;&nbsp; 9258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3422405 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4533905 |
| Health Care Providers & Services – 0.4% |  |  |
| &nbsp;&nbsp;&nbsp; AmerisourceBergen Corp | &nbsp;&nbsp;&nbsp;&nbsp; 2716 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 848831 |
| &nbsp;&nbsp;&nbsp; McKesson Corp | &nbsp;&nbsp;&nbsp;&nbsp; 1568 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1211343 |
| &nbsp;&nbsp;&nbsp; Quest Diagnostics Inc | &nbsp;&nbsp;&nbsp;&nbsp; 1782 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 339613 |
| &nbsp;&nbsp;&nbsp; Tenet Healthcare Corp<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 1114 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 226187 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2625974 |
| Health Care Real Estate Investment Trusts (REITs) – 0.2% |  |  |
| &nbsp;&nbsp;&nbsp; Welltower Inc | &nbsp;&nbsp;&nbsp;&nbsp; 8657 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1542158 |
| Hotels, Restaurants & Leisure – 4.4% |  |  |
| &nbsp;&nbsp;&nbsp; Booking Holdings Inc | &nbsp;&nbsp;&nbsp;&nbsp; 1233 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6657300 |
| &nbsp;&nbsp;&nbsp; Boyd Gaming Corp | &nbsp;&nbsp; 98731 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8535295 |
| &nbsp;&nbsp;&nbsp; Chipotle Mexican Grill Inc<sup>\*</sup> <br>| &nbsp;&nbsp; 15476 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 606504 |
| &nbsp;&nbsp;&nbsp; McDonald's Corp | &nbsp;&nbsp; 40702 | &nbsp;&nbsp;&nbsp;&nbsp; 12368931 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 28168030 |
| Household Products – 0.1% |  |  |
| &nbsp;&nbsp;&nbsp; Church & Dwight Co Inc | &nbsp;&nbsp;&nbsp;&nbsp; 5969 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 523063 |
| &nbsp;&nbsp;&nbsp; Clorox Co | &nbsp;&nbsp;&nbsp;&nbsp; 2815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 347090 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 870153 |
| Industrial Conglomerates – 0.7% |  |  |
| &nbsp;&nbsp;&nbsp; Honeywell International Inc | &nbsp;&nbsp; 22132 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4658786 |
| Insurance – 0.4% |  |  |
| &nbsp;&nbsp;&nbsp; Marsh & McLennan Cos Inc | &nbsp;&nbsp;&nbsp;&nbsp; 6811 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1372621 |
| &nbsp;&nbsp;&nbsp; MetLife Inc | &nbsp;&nbsp; 12235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1007797 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2380418 |
| Interactive Media & Services – 7.9% |  |  |
| &nbsp;&nbsp;&nbsp; Alphabet Inc - Class A | 134664 | &nbsp;&nbsp;&nbsp;&nbsp; 32736818 |
| &nbsp;&nbsp;&nbsp; Match Group Inc | &nbsp;&nbsp;&nbsp;&nbsp; 3893 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 137501 |
| &nbsp;&nbsp;&nbsp; Meta Platforms Inc - Class A | &nbsp;&nbsp; 23853 | &nbsp;&nbsp;&nbsp;&nbsp; 17517166 |
| &nbsp;&nbsp;&nbsp; Pinterest Inc - Class A<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 8293 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 266786 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 50658271 |
| Machinery – 2.6% |  |  |
| &nbsp;&nbsp;&nbsp; Cummins Inc | &nbsp;&nbsp; 12832 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5419852 |
| &nbsp;&nbsp;&nbsp; Otis Worldwide Corp | &nbsp;&nbsp;&nbsp;&nbsp; 5979 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 546660 |
| &nbsp;&nbsp;&nbsp; Parker-Hannifin Corp | &nbsp;&nbsp; 14037 | &nbsp;&nbsp;&nbsp;&nbsp; 10642151 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 16608663 |
| Metals & Mining – 0.4% |  |  |
| &nbsp;&nbsp;&nbsp; Wheaton Precious Metals Corp | &nbsp;&nbsp; 23110 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2584622 |
| Multiline Retail – 3.1% |  |  |
| &nbsp;&nbsp;&nbsp; Amazon.com Inc<sup>\*</sup> <br>| &nbsp;&nbsp; 91455 | &nbsp;&nbsp;&nbsp;&nbsp; 20080774 |
| Multi-Utilities – 1.7% |  |  |
| &nbsp;&nbsp;&nbsp; CenterPoint Energy Inc | 223772 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8682354 |
| &nbsp;&nbsp;&nbsp; Consolidated Edison Inc | &nbsp;&nbsp;&nbsp;&nbsp; 7672 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 771189 |

---

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| | | |
|:---|:---|:---|
|  | *Shares or*<br> *Principal Amounts*<br>| *Value* |
| Common Stocks – (continued) |  |  |
| Multi-Utilities – (continued) |  |  |
| &nbsp;&nbsp;&nbsp; Public Service Enterprise Group Inc | &nbsp;&nbsp;&nbsp;&nbsp; 8829 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $736868 |
| &nbsp;&nbsp;&nbsp; Sempra Energy | &nbsp;&nbsp;&nbsp;&nbsp; 9222 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 829796 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 11020207 |
| Oil, Gas & Consumable Fuels – 1.3% |  |  |
| &nbsp;&nbsp;&nbsp; Cabot Oil & Gas Corp | &nbsp;&nbsp; 15069 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 356382 |
| &nbsp;&nbsp;&nbsp; Hess Midstream LP - Class A | 201042 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6946001 |
| &nbsp;&nbsp;&nbsp; Occidental Petroleum Corp | &nbsp;&nbsp; 11168 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 527688 |
| &nbsp;&nbsp;&nbsp; Range Resources Corp | &nbsp;&nbsp;&nbsp;&nbsp; 6327 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 238148 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8068219 |
| Pharmaceuticals – 0.3% |  |  |
| &nbsp;&nbsp;&nbsp; Corcept Therapeutics Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 1328 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 110370 |
| &nbsp;&nbsp;&nbsp; Pfizer Inc | &nbsp;&nbsp; 63668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1622261 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1732631 |
| Professional Services – 0.1% |  |  |
| &nbsp;&nbsp;&nbsp; Leidos Holdings Inc | &nbsp;&nbsp;&nbsp;&nbsp; 1732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 327279 |
| Real Estate Management & Development – 0.6% |  |  |
| &nbsp;&nbsp;&nbsp; CBRE Group Inc<sup>\*</sup> <br>| &nbsp;&nbsp; 24800 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3907488 |
| Retail Real Estate Investment Trusts (REITs) – 0.4% |  |  |
| &nbsp;&nbsp;&nbsp; Simon Property Group Inc | &nbsp;&nbsp; 12815 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2404991 |
| Road & Rail – 0% |  |  |
| &nbsp;&nbsp;&nbsp; Canadian Pacific Kansas City Ltd | &nbsp;&nbsp;&nbsp;&nbsp; 1808 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 134678 |
| Semiconductor & Semiconductor Equipment – 12.2% |  |  |
| &nbsp;&nbsp;&nbsp; Broadcom Inc | &nbsp;&nbsp; 27618 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9111454 |
| &nbsp;&nbsp;&nbsp; KLA Corp | &nbsp;&nbsp;&nbsp;&nbsp; 5302 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5718737 |
| &nbsp;&nbsp;&nbsp; NVIDIA Corp | 253081 | &nbsp;&nbsp;&nbsp;&nbsp; 47219853 |
| &nbsp;&nbsp;&nbsp; Qorvo Inc<sup>\*</sup> <br>| &nbsp;&nbsp; 48154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4385866 |
| &nbsp;&nbsp;&nbsp; Rambus Inc<sup>\*</sup> <br>| 114047 | &nbsp;&nbsp;&nbsp;&nbsp; 11883698 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 78319608 |
| Software – 9.9% |  |  |
| &nbsp;&nbsp;&nbsp; Check Point Software Technologies Ltd<sup>\*</sup> <br>| &nbsp;&nbsp; 43848 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9072590 |
| &nbsp;&nbsp;&nbsp; CyberArk Software Ltd<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 382655 |
| &nbsp;&nbsp;&nbsp; Dropbox Inc<sup>\*</sup> <br>| &nbsp;&nbsp; 19179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 579398 |
| &nbsp;&nbsp;&nbsp; Dynatrace Inc<sup>\*</sup> <br>| &nbsp;&nbsp; 13875 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 672244 |
| &nbsp;&nbsp;&nbsp; Fair Isaac Corp<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 390 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 583647 |
| &nbsp;&nbsp;&nbsp; Fortinet Inc<sup>\*</sup> <br>| 114090 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9592687 |
| &nbsp;&nbsp;&nbsp; Microsoft Corp | &nbsp;&nbsp; 77391 | &nbsp;&nbsp;&nbsp;&nbsp; 40084668 |
| &nbsp;&nbsp;&nbsp; Palo Alto Networks Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 9017 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1836041 |
| &nbsp;&nbsp;&nbsp; Procore Technologies Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 8544 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 623028 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 63426958 |
| Specialized Real Estate Investment Trusts (REITs) – 0.2% |  |  |
| &nbsp;&nbsp;&nbsp; Equinix Inc | &nbsp;&nbsp;&nbsp;&nbsp; 1194 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 935189 |
| Specialty Retail – 1.6% |  |  |
| &nbsp;&nbsp;&nbsp; AutoZone Inc<sup>\*</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 2376 | &nbsp;&nbsp;&nbsp;&nbsp; 10193610 |
| Technology Hardware, Storage & Peripherals – 6.2% |  |  |
| &nbsp;&nbsp;&nbsp; Apple Inc | 155820 | &nbsp;&nbsp;&nbsp;&nbsp; 39676446 |
| &nbsp;&nbsp;&nbsp; Logitech International SA (REG)<sup>#</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 807 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 88512 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 39764958 |
| Tobacco – 3.2% |  |  |
| &nbsp;&nbsp;&nbsp; Altria Group Inc | 139114 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9189871 |
| &nbsp;&nbsp;&nbsp; Philip Morris International Inc | &nbsp;&nbsp; 70871 | &nbsp;&nbsp;&nbsp;&nbsp; 11495276 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp; 20685147 |
| Total Common Stocks (cost $453,501,626) |  | &nbsp;&nbsp; 630014126 |
| Investment Companies – 1.2% |  |  |
| Exchange-Traded Funds (ETFs) – 1.2% |  |  |
| &nbsp;&nbsp;&nbsp; Schwab US Large-Cap<sup>#</sup> (cost $7,529,727) | 297971 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7848556 |
| Investments Purchased with Cash Collateral from Securities Lending – 0.1% |  |  |
| Investment Companies – 0.1% |  |  |
| &nbsp;&nbsp;&nbsp; Janus Henderson Cash Collateral Fund LLC, 4.0644%<sup>ºº,</sup><sup>£</sup> <br>| 287632 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 287632 |
| Time Deposits – 0% |  |  |
| &nbsp;&nbsp;&nbsp; Royal Bank of Canada, 4.0800%, 10/1/25 | $71908 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 71908 |
| Total Investments Purchased with Cash Collateral from Securities Lending (cost $359,540) | Total Investments Purchased with Cash Collateral from Securities Lending (cost $359,540) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 359540 |
| Total Investments (total cost $461,390,893) – 99.7% |  | &nbsp;&nbsp; 638222222 |
| Cash, Receivables and Other Assets, net of Liabilities – 0.3% |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1686684 |
| Net Assets – 100% |  | $639908906 |

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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 | $598107931 | &nbsp;&nbsp;&nbsp;&nbsp; 93.7<br> %<br>|
| Canada | 21077627 | &nbsp;&nbsp;&nbsp;&nbsp;3.3 |
| Israel | 9455245 | &nbsp;&nbsp;&nbsp;&nbsp;1.5 |
| Italy | 9376877 | &nbsp;&nbsp;&nbsp;&nbsp;1.5 |
| Switzerland | 204542 | &nbsp;&nbsp;&nbsp;&nbsp;0.0 |
| Total | $638222222 | &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>*6/30/25*<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>*9/30/25*<br>| *Ending* <br>*Shares*<br>| *Dividend* <br>*Income*<br>|
| 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 |
| Money Markets - N/A | Money Markets - N/A | Money Markets - N/A | Money Markets - N/A | Money Markets - N/A | Money Markets - N/A | Money Markets - N/A | Money Markets - N/A | Money Markets - N/A |
| &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; $494752 | &nbsp;&nbsp; $9465098 | &nbsp;&nbsp; $(9959749) | &nbsp;&nbsp; $(101) | &nbsp;&nbsp; $- | &nbsp;&nbsp; $- | &nbsp;&nbsp; - | &nbsp;&nbsp; $4277 |
| Investments Purchased with Cash Collateral from Securities Lending - 0.1% | Investments Purchased with Cash Collateral from Securities Lending - 0.1% | Investments Purchased with Cash Collateral from Securities Lending - 0.1% | Investments Purchased with Cash Collateral from Securities Lending - 0.1% | Investments Purchased with Cash Collateral from Securities Lending - 0.1% | Investments Purchased with Cash Collateral from Securities Lending - 0.1% | Investments Purchased with Cash Collateral from Securities Lending - 0.1% | Investments Purchased with Cash Collateral from Securities Lending - 0.1% | Investments Purchased with Cash Collateral from Securities Lending - 0.1% |
| Investment Companies - 0.1% | Investment Companies - 0.1% | Investment Companies - 0.1% | Investment Companies - 0.1% | Investment Companies - 0.1% | Investment Companies - 0.1% | Investment Companies - 0.1% | Investment Companies - 0.1% | Investment Companies - 0.1% |
| &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; 5052161 | &nbsp;&nbsp; 16734957 | &nbsp;&nbsp; (21499486) | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; 287632 | &nbsp;&nbsp; 287632 | &nbsp;&nbsp; 3916 <br><sup>∆</sup><br>|
| Total Affiliated Investments - 0.1% | Total Affiliated Investments - 0.1% | Total Affiliated Investments - 0.1% | Total Affiliated Investments - 0.1% | Total Affiliated Investments - 0.1% | Total Affiliated Investments - 0.1% | Total Affiliated Investments - 0.1% | Total Affiliated Investments - 0.1% | Total Affiliated Investments - 0.1% |
|  | &nbsp;&nbsp; $5546913 | &nbsp;&nbsp; $26200055 | &nbsp;&nbsp; $(31459235) | &nbsp;&nbsp; $(101) | &nbsp;&nbsp; $- | &nbsp;&nbsp; $287632 | &nbsp;&nbsp; 287632 | &nbsp;&nbsp; $8193 |

---

------

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

---

| | |
|:---|:---|
| LLC | Limited Liability Company |
| LP | Limited Partnership |
| PLC | Public Limited Company |
| REG | Registered |

---

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

---

| |
|:---|
| Non-income producing security. |
| Rate shown is the 7-day yield as of September 30, 2025. |
| Loaned security; a portion of the security is on loan at September 30, 2025. |
| £&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. |

---

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 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* | $630014126 | &nbsp;&nbsp;&nbsp; $- | &nbsp;&nbsp;&nbsp; $- |
| *Investment Companies* | 7848556 | &nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp; - |
| *Investments Purchased with Cash Collateral from Securities Lending* | - | &nbsp;&nbsp;&nbsp; 359540 | &nbsp;&nbsp;&nbsp; - |
| **Total Assets** | $637862682 | &nbsp;&nbsp;&nbsp; $359540 | &nbsp;&nbsp;&nbsp; $- |

---

------

**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 September 30, 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.

------

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

statements.

125-25-70296 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 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 Adaptive Risk Managed U.S. Equity Fund

- **b. EDGAR series identifier (if any):** S000025898

- **c. LEI of Series:** 5493006DGCHLVTOMO890

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

- **a. Date of fiscal year-end:** 2026-06-30

- **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:** $640361063.02

**Total Liabilities:** $452156.78

**Net Assets:** $639908906.24

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000077645 | 2.19%                | 1.35%                | 3.76%                |
| Class ID C000077646 | 2.15%                | 1.26%                | 3.73%                |
| Class ID C000077647 | 2.27%                | 1.35%                | 3.84%                |
| Class ID C000077648 | 2.18%                | 1.27%                | 3.83%                |
| Class ID C000077649 | 2.24%                | 1.30%                | 3.85%                |
| Class ID C000147334 | 2.29%                | 1.36%                | 3.79%                |
| Class ID C000150517 | 2.25%                | 1.38%                | 3.77%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $388120.00               | $13521646.00                               |
| Month 2  | $1379268.00              | $6364569.00                                |
| Month 3  | $80968.00                | $23227814.00                               |

**Designated Index Information**

- **Index Name:** Russell 1000 Total Return Index

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

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Lockheed Martin Corporation                  | Lockheed Martin Corporation COM USD1.00              | CUSIP: 539830109<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | EC               | CORP              | US        |      2358 | NS      | $1177137.18   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Maplebear Inc.                               | Maplebear Inc. COM                                   | CUSIP: 565394103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2736 | NS      | $100575.36    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Marsh & McLennan Companies, Inc.             | Marsh & McLennan Companies, Inc. COM USD1.00         | CUSIP: 571748102<br>LEI: 549300XMP3KDCKJXIU47 | Long             | EC               | CORP              | US        |      6811 | NS      | $1372620.83   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| MasterCard Incorporated                      | MasterCard Incorporated COM USD0.0001 CLASS A        | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |     21118 | NS      | $12012129.58  | 1.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Match Group Inc                              | Match Group Inc COM                                  | CUSIP: 57667L107<br>LEI: 15OMOPB0A8K0EFUVD031 | Long             | EC               | CORP              | US        |      3893 | NS      | $137500.76    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Sempra                                       | Sempra COM NPV                                       | CUSIP: 816851109<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | EC               | CORP              | US        |      9222 | NS      | $829795.56    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Simon Property Group Inc                     | Simon Property Group Inc COM USD0.0001               | CUSIP: 828806109<br>LEI: 529900GQL5X8H7AO3T64 | Long             | EC               | CORP              | US        |     12815 | NS      | $2404991.05   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern Co.                                 | Southern Co. COM USD5                                | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |     18371 | NS      | $1741019.67   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Stryker Corporation                          | Stryker Corporation COM USD0.10                      | CUSIP: 863667101<br>LEI: 5493002F0SC4JTBU5137 | Long             | EC               | CORP              | US        |      9258 | NS      | $3422404.86   | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Take-Two Interactive Software Inc.           | Take-Two Interactive Software Inc. COM USD0.01       | CUSIP: 874054109<br>LEI: BOMSTHHJK882EWYX3334 | Long             | EC               | CORP              | US        |     37957 | NS      | $9806570.52   | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Tenet Healthcare Corporation                 | Tenet Healthcare Corporation COM USD0.05             | CUSIP: 88033G407<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | EC               | CORP              | US        |      1114 | NS      | $226186.56    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesla Inc                                    | Tesla Inc COM USD0.001                               | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |     24470 | NS      | $10882298.40  | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Textron Inc.                                 | Textron Inc. COM STK USD0.125                        | CUSIP: 883203101<br>LEI: 3PPKBHUG1HD6BO7RNR87 | Long             | EC               | CORP              | US        |      3561 | NS      | $300868.89    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| The Toronto-Dominion Bank                    | The Toronto-Dominion Bank COM NPV                    | CUSIP: 891160509<br>LEI: PT3QB789TSUIDF371261 | Long             | EC               | CORP              | US        |    112914 | NS      | $9027474.30   | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Tyson Foods, Inc.                            | Tyson Foods, Inc. CLASS'A'COM USD0.10                | CUSIP: 902494103<br>LEI: WD6L6041MNRW1JE49D58 | Long             | EC               | CORP              | US        |      6692 | NS      | $363375.60    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| UGI Corp                                     | UGI Corp COM NPV                                     | CUSIP: 902681105<br>LEI: DX6GCWD4Q1JO9CRE5I40 | Long             | EC               | CORP              | US        |      7071 | NS      | $235181.46    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| United Parcel Service, Inc.                  | United Parcel Service, Inc. CLASS'B'COM USD0.01      | CUSIP: 911312106<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | EC               | CORP              | US        |      9334 | NS      | $779669.02    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Walmart Inc                                  | Walmart Inc COM USD0.10                              | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |    139558 | NS      | $14382847.48  | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Waste Management, Inc.                       | Waste Management, Inc. COM USD0.01                   | CUSIP: 94106L109<br>LEI: 549300YX8JIID70NFS41 | Long             | EC               | CORP              | US        |      5260 | NS      | $1161565.80   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Welltower OP LLC                             | Welltower OP LLC COM USD1                            | CUSIP: 95040Q104<br>LEI: T6IZ0MBEG5ACZDTR7D06 | Long             | EC               | CORP              | US        |      8657 | NS      | $1542157.98   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Wheaton Precious Metals Corporation          | Wheaton Precious Metals Corporation COM NPV          | CUSIP: 962879102<br>LEI: 549300XSFG5ZCGVYD886 | Long             | EC               | CORP              | US        |     23110 | NS      | $2584622.40   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Linde PLC                                    | Linde PLC COM EUR0.001                               | CUSIP: G54950103<br>LEI: 5299003QR1WT0EF88V51 | Long             | EC               | CORP              | US        |      5576 | NS      | $2648600.00   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Trane Technologies PLC                       | Trane Technologies PLC COM USD1                      | CUSIP: G8994E103<br>LEI: 549300BURLR9SLYY2705 | Long             | EC               | CORP              | US        |     13157 | NS      | $5551727.72   | 0.87%             |  |  |  | No            |                  1 | On Loan: No      |
| UBS Group AG                                 | UBS Group AG CHF0.10 (REGD)                          | CUSIP: H42097107<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | EC               | CORP              | US        |      2830 | NS      | $116030.00    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Logitech International SA                    | Logitech International SA CHF0.25 (REGD)             | CUSIP: H50430232<br>LEI: 549300SN6PRK6IJJC215 | Long             | EC               | CORP              | US        |       807 | NS      | $88511.76     | 0.01%             |  |  |  | No            |                  1 | On Loan: —       |
| AT&T Inc                                     | AT&T Inc COM USD1                                    | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |     78180 | NS      | $2207803.20   | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Albertsons Companies Inc.                    | Albertsons Companies Inc. COMMON STOCK               | CUSIP: 013091103<br>LEI: 549300YKWOC0AOR16R51 | Long             | EC               | CORP              | US        |      9954 | NS      | $174294.54    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc.                                | Alphabet Inc. CAP STK USD0.001 CL A                  | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |    134664 | NS      | $32736818.40  | 5.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Altria Group, Inc.                           | Altria Group, Inc. COM USD0.333333                   | CUSIP: 02209S103<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | EC               | CORP              | US        |    139114 | NS      | $9189870.84   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com, Inc.                             | Amazon.com, Inc. COM USD0.01                         | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |     91455 | NS      | $20080774.35  | 3.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc.                                   | Apple Inc. COM USD0.00001                            | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |    155820 | NS      | $39676446.60  | 6.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Autozone, Inc.                               | Autozone, Inc. COM USD0.01                           | CUSIP: 053332102<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | EC               | CORP              | US        |      2376 | NS      | $10193610.24  | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| BWX Technologies Inc.                        | BWX Technologies Inc. COM USD0.01                    | CUSIP: 05605H100<br>LEI: 549300NP85N265KWMS58 | Long             | EC               | CORP              | US        |      1294 | NS      | $238574.78    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp.                        | Bank of America Corp. COM USD0.01                    | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |    249499 | NS      | $12871653.41  | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of Nova Scotia                          | Bank of Nova Scotia COM NPV                          | CUSIP: 064149107<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | EC               | CORP              | US        |      1671 | NS      | $108030.15    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Dropbox Inc                                  | Dropbox Inc COM USD0.00001 CL A                      | CUSIP: 26210C104<br>LEI: 549300JCDF7UAR6TJR51 | Long             | EC               | CORP              | US        |     19179 | NS      | $579397.59    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Dynatrace Inc                                | Dynatrace Inc COM USD0.001                           | CUSIP: 268150109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     13875 | NS      | $672243.75    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Edwards Lifesciences Corporation             | Edwards Lifesciences Corporation COM USD1            | CUSIP: 28176E108<br>LEI: YA13X31F3V31L8TMPR58 | Long             | EC               | CORP              | US        |      7260 | NS      | $564610.20    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Emerson Electric Co.                         | Emerson Electric Co. COM USD0.50                     | CUSIP: 291011104<br>LEI: FGLT0EWZSUIRRITFOA30 | Long             | EC               | CORP              | US        |     74352 | NS      | $9753495.36   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Entergy Corporation                          | Entergy Corporation COM USD0.01                      | CUSIP: 29364G103<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | EC               | CORP              | US        |      8592 | NS      | $800688.48    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Equinix, Inc.                                | Equinix, Inc. COM USD0.001                           | CUSIP: 29444U700<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | EC               | CORP              | US        |      1194 | NS      | $935188.56    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Exelon Corp.                                 | Exelon Corp. COM NPV                                 | CUSIP: 30161N101<br>LEI: 3SOUA6IRML7435B56G12 | Long             | EC               | CORP              | US        |    193574 | NS      | $8712765.74   | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Fair Isaac Corporation                       | Fair Isaac Corporation COM USD0.01                   | CUSIP: 303250104<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | EC               | CORP              | US        |       390 | NS      | $583646.70    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortinet Inc                                 | Fortinet Inc COM USD0.001                            | CUSIP: 34959E109<br>LEI: 549300O0QJWDBAS0QX03 | Long             | EC               | CORP              | US        |    114090 | NS      | $9592687.20   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Generac Holdings Inc.                        | Generac Holdings Inc. COM USD0.01                    | CUSIP: 368736104<br>LEI: 529900S2H2AHJHSFFI84 | Long             | EC               | CORP              | US        |       806 | NS      | $134924.40    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| General Mills, Inc.                          | General Mills, Inc. COM USD0.10                      | CUSIP: 370334104<br>LEI: 2TGYMUGI08PO8X8L6150 | Long             | EC               | CORP              | US        |     13433 | NS      | $677291.86    | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Goldman Sachs Group, Inc.                    | Goldman Sachs Group, Inc. COM USD0.01                | CUSIP: 38141G104<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EC               | CORP              | US        |      6250 | NS      | $4977187.50   | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Heico Corp                                   | Heico Corp COM USD0.01                               | CUSIP: 422806109<br>LEI: 529900O1DTDLCJ7L0I14 | Long             | EC               | CORP              | US        |       426 | NS      | $137521.32    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Hess Midstream LP                            | Hess Midstream LP CL A SHS                           | CUSIP: 428103105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    201042 | NS      | $6946001.10   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Honeywell International Inc.                 | Honeywell International Inc. COM USD1                | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |     22132 | NS      | $4658786.00   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Huntington Ingalls Industries, Inc.          | Huntington Ingalls Industries, Inc. COM USD0.01      | CUSIP: 446413106<br>LEI: 5TZLZ6WJTBVJ0QWBG121 | Long             | EC               | CORP              | US        |       699 | NS      | $201249.09    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| IDEXX Laboratories Inc.                      | IDEXX Laboratories Inc. COM USD0.10                  | CUSIP: 45168D104<br>LEI: OGMTXK0LUU1HKV2P0J84 | Long             | EC               | CORP              | US        |       856 | NS      | $546889.84    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Eaton Corporation PLC                        | Eaton Corporation PLC COM USD0.01                    | CUSIP: G29183103<br>LEI: 549300VDIGTMXUNT7H71 | Long             | EC               | CORP              | US        |     15544 | NS      | $5817342.00   | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Aptiv PLC                                    | Aptiv PLC COM SHS                                    | CUSIP: G3265R107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2986 | NS      | $257452.92    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Ferrari N V                                  | Ferrari N V COM EUR0.01                              | CUSIP: N3167Y103<br>LEI: 549300RIVY5EX8RCON76 | Long             | EC               | CORP              | US        |     19325 | NS      | $9376876.50   | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc                           | Meta Platforms Inc COM USD0.000006 CL 'A'            | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |     23853 | NS      | $17517166.14  | 2.74%             |  |  |  | No            |                  1 | On Loan: No      |
| McDonald's Corp.                             | McDonald's Corp. COM USD0.01                         | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |     40702 | NS      | $12368930.78  | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Mckesson Corp.                               | Mckesson Corp. COM USD0.01                           | CUSIP: 58155Q103<br>LEI: 549300WZWOM80UCFSF54 | Long             | EC               | CORP              | US        |      1568 | NS      | $1211342.72   | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| MetLife Inc.                                 | MetLife Inc. COM USD0.01                             | CUSIP: 59156R108<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | EC               | CORP              | US        |     12235 | NS      | $1007796.95   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp.                              | Microsoft Corp. COM USD0.00000625                    | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |     77391 | NS      | $40084668.45  | 6.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Moderna Inc                                  | Moderna Inc COM USD0.0001                            | CUSIP: 60770K107<br>LEI: 549300EI6OKH5K5Q2G38 | Long             | EC               | CORP              | US        |      4741 | NS      | $122460.03    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Moodys Corp.                                 | Moodys Corp. COM USD0.01                             | CUSIP: 615369105<br>LEI: 549300GCEDD8YCF5WU84 | Long             | EC               | CORP              | US        |     19481 | NS      | $9282306.88   | 1.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Nasdaq Inc                                   | Nasdaq Inc COM USD0.01                               | CUSIP: 631103108<br>LEI: 549300L8X1Q78ERXFD06 | Long             | EC               | CORP              | US        |     92040 | NS      | $8140938.00   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp.                                 | NVIDIA Corp. COM USD0.001                            | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |    253081 | NS      | $47219852.98  | 7.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Occidental Petroleum Corp.                   | Occidental Petroleum Corp. COM USD0.20               | CUSIP: 674599105<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | EC               | CORP              | US        |     11168 | NS      | $527688.00    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Otis Worldwide Corp.                         | Otis Worldwide Corp. COM                             | CUSIP: 68902V107<br>LEI: 549300ZLBKR8VSU25153 | Long             | EC               | CORP              | US        |      5979 | NS      | $546659.97    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Palo Alto Networks Inc                       | Palo Alto Networks Inc COM USD0.0001                 | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Long             | EC               | CORP              | US        |      9017 | NS      | $1836041.54   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Parker-Hannifin Corp.                        | Parker-Hannifin Corp. COM USD0.50                    | CUSIP: 701094104<br>LEI: 5493002CONDB4N2HKI23 | Long             | EC               | CORP              | US        |     14037 | NS      | $10642151.55  | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Pfizer Inc.                                  | Pfizer Inc. COM USD0.05                              | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |     63668 | NS      | $1622260.64   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Philip Morris International Inc.             | Philip Morris International Inc. COM NPV             | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |     70871 | NS      | $11495276.20  | 1.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinterest Inc                                | Pinterest Inc COM USD0.00001 CL A                    | CUSIP: 72352L106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      8293 | NS      | $266785.81    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Procore Technologies Inc                     | Procore Technologies Inc COM                         | CUSIP: 74275K108<br>LEI: 5493005PTWY0RHYRAH22 | Long             | EC               | CORP              | US        |      8544 | NS      | $623028.48    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Service Enterprise Group Incorporated | Public Service Enterprise Group Incorporated COM NPV | CUSIP: 744573106<br>LEI: PUSS41EMO3E6XXNV3U28 | Long             | EC               | CORP              | US        |      8829 | NS      | $736868.34    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Qorvo Inc                                    | Qorvo Inc COM USD0.0001                              | CUSIP: 74736K101<br>LEI: 254900YAUJV2EUEVBR11 | Long             | EC               | CORP              | US        |     48154 | NS      | $4385866.32   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Quest Diagnostics Incorporated               | Quest Diagnostics Incorporated COM USD0.01           | CUSIP: 74834L100<br>LEI: 8MCWUBXQ0WE04KMXBX50 | Long             | EC               | CORP              | US        |      1782 | NS      | $339613.56    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Rambus Inc.                                  | Rambus Inc. COM USD0.001                             | CUSIP: 750917106<br>LEI: 2549000211GDCQSLV833 | Long             | EC               | CORP              | US        |    114047 | NS      | $11883697.40  | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Range Resources Corp.                        | Range Resources Corp. COM USD0.01                    | CUSIP: 75281A109<br>LEI: H3Y3WLYCX0BTO1TRW162 | Long             | EC               | CORP              | US        |      6327 | NS      | $238148.28    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Republic Services, Inc.                      | Republic Services, Inc. COM USD0.01                  | CUSIP: 760759100<br>LEI: NKNQHM6BLECKVOQP7O46 | Long             | EC               | CORP              | US        |      3355 | NS      | $769905.40    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Revolution Medicines Inc                     | Revolution Medicines Inc COM                         | CUSIP: 76155X100<br>LEI: 549300JU3X0LBCQ65892 | Long             | EC               | CORP              | US        |      3104 | NS      | $144956.80    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Royal Bank of Canada                         | Royal Bank of Canada COM NPV                         | CUSIP: 780087102<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | EC               | CORP              | US        |      1372 | NS      | $202123.04    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| S&P Global Inc                               | S&P Global Inc COM USD1                              | CUSIP: 78409V104<br>LEI: Y6X4K52KMJMZE7I7MY94 | Long             | EC               | CORP              | US        |      7053 | NS      | $3432765.63   | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Schwab Strategic Trust                       | Schwab Strategic Trust US LARGE-CAP ETF              | CUSIP: 808524201<br>LEI: 549300NAZEQOIX80E226 | Long             | EC               | RF                | US        |    390231 | NS      | $10278684.54  | 1.61%             |  |  |  | No            |                  1 | On Loan: —       |
| Cencora Inc                                  | Cencora Inc COM USD0.01                              | CUSIP: 03073E105<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | EC               | CORP              | US        |      2716 | NS      | $848831.48    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Berkshire Hathaway Inc.                      | Berkshire Hathaway Inc. COM USD0.0033 CLASS'B'       | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |     32126 | NS      | $16151025.24  | 2.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackrock Inc.                               | Blackrock Inc. COM                                   | CUSIP: 09290D101<br>LEI: 529900VBK42Y5HHRMD23 | Long             | EC               | CORP              | US        |      3423 | NS      | $3990773.01   | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Booking Holdings Inc                         | Booking Holdings Inc COM USD0.008                    | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |      1233 | NS      | $6657299.91   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Boyd Gaming Corporation                      | Boyd Gaming Corporation COM USD0.01                  | CUSIP: 103304101<br>LEI: 254900787YGRYS2A1Z35 | Long             | EC               | CORP              | US        |     98731 | NS      | $8535294.95   | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                                 | Broadcom Inc COM USD0.001                            | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |     27618 | NS      | $9111454.38   | 1.42%             |  |  |  | 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        |     40488 | NS      | $9929682.00   | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| CBRE Group Inc.                              | CBRE Group Inc. COM USD0.01 CLASS A                  | CUSIP: 12504L109<br>LEI: 52990016II9MJ2OSWA10 | Long             | EC               | CORP              | US        |     24800 | NS      | $3907488.00   | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Coterra Energy Inc                           | Coterra Energy Inc COM USD0.10                       | CUSIP: 127097103<br>LEI: FCNMH6O7VWU7LHXMK351 | Long             | EC               | CORP              | US        |     15069 | NS      | $356381.85    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Imperial Bank of Commerce           | Canadian Imperial Bank of Commerce COM NPV           | CUSIP: 136069101<br>LEI: 2IGI19DL77OX0HC3ZE78 | Long             | EC               | CORP              | US        |    112914 | NS      | $9020699.46   | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Pacific Kansas City Ltd.            | Canadian Pacific Kansas City Ltd. COM                | CUSIP: 13646K108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1808 | NS      | $134677.92    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Centerpoint Energy Inc                       | Centerpoint Energy Inc COM STK USD0.01               | CUSIP: 15189T107<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | EC               | CORP              | US        |    223772 | NS      | $8682353.60   | 1.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Chipotle Mexican Grill Inc                   | Chipotle Mexican Grill Inc COM USD0.01               | CUSIP: 169656105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15476 | NS      | $606504.44    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Church & Dwight Co Inc.                      | Church & Dwight Co Inc. COM USD1.00                  | CUSIP: 171340102<br>LEI: POOXSI30AWAQGYJZC921 | Long             | EC               | CORP              | US        |      5969 | NS      | $523063.47    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Inc.                               | Citigroup Inc. COM USD0.01                           | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |     41540 | NS      | $4216310.00   | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| The Clorox Company                           | The Clorox Company COM USD1.00                       | CUSIP: 189054109<br>LEI: 54930044KVSC06Z79I06 | Long             | EC               | CORP              | US        |      2815 | NS      | $347089.50    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Consolidated Edison, Inc.                    | Consolidated Edison, Inc. COM USD0.10                | CUSIP: 209115104<br>LEI: 54930033SBW53OO8T749 | Long             | EC               | CORP              | US        |      7672 | NS      | $771189.44    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Corcept Therapeutics Inc.                    | Corcept Therapeutics Inc. COM STK USD0.00001         | CUSIP: 218352102<br>LEI: 529900EO9LUTFMZ7FF90 | Long             | EC               | CORP              | US        |      1328 | NS      | $110370.08    | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Corteva Inc                                  | Corteva Inc COM USD0.01                              | CUSIP: 22052L104<br>LEI: 549300WZN9I2QKLS0O94 | Long             | EC               | CORP              | US        |      9684 | NS      | $654928.92    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Costco Wholesale Corporation                 | Costco Wholesale Corporation COM USD0.01             | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |     13521 | NS      | $12515443.23  | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Cummins Inc.                                 | Cummins Inc. COM USD2.50                             | CUSIP: 231021106<br>LEI: ZUNI8PYC725B6H8JU438 | Long             | EC               | CORP              | US        |     12832 | NS      | $5419851.84   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Interactive Brokers Group Inc                | Interactive Brokers Group Inc COM USD0.01 CL A       | CUSIP: 45841N107<br>LEI: 5493004DT6DCDUZNDM53 | Long             | EC               | CORP              | US        |     38483 | NS      | $2648015.23   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Intercontinental Exchange Inc                | Intercontinental Exchange Inc COM USD0.01            | CUSIP: 45866F104<br>LEI: 5493000F4ZO33MV32P92 | Long             | EC               | CORP              | US        |     52418 | NS      | $8831384.64   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co.                         | JPMorgan Chase & Co. COM USD1.00                     | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |     66130 | NS      | $20859385.90  | 3.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Jabil Inc                                    | Jabil Inc COM USD0.001                               | CUSIP: 466313103<br>LEI: 5493000CGCQY2OQU7669 | Long             | EC               | CORP              | US        |     12633 | NS      | $2743508.61   | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| KLA Corp.                                    | KLA Corp. COM USD0.001                               | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |      5302 | NS      | $5718737.20   | 0.89%             |  |  |  | No            |                  1 | On Loan: No      |
| L3 Harris Technologies Inc                   | L3 Harris Technologies Inc COM USD1.00               | CUSIP: 502431109<br>LEI: 549300UTE50ZMDBG8A20 | Long             | EC               | CORP              | US        |     40928 | NS      | $12499820.48  | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Leidos Holdings Inc                          | Leidos Holdings Inc COM USD0.0001                    | CUSIP: 525327102<br>LEI: 549300IUTGTP6EJP8124 | Long             | EC               | CORP              | US        |      1732 | NS      | $327278.72    | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| The J M Smucker Company                      | The J M Smucker Company COM NPV                      | CUSIP: 832696405<br>LEI: 5493000WDH6A0LHDJD55 | Long             | EC               | CORP              | US        |     13727 | NS      | $1490752.20   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Check Point Software Technologies Ltd.       | Check Point Software Technologies Ltd. ORD ILS0.01   | CUSIP: M22465104<br>LEI: 2549003ZVBH73EPNS513 | Long             | EC               | CORP              | US        |     43848 | NS      | $9072589.68   | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Cyberark Software Ltd.                       | Cyberark Software Ltd. COM ILS0.01                   | CUSIP: M2682V108<br>LEI: 529900YEXNDM894PWS93 | Long             | EC               | CORP              | US        |       792 | NS      | $382654.80    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                                          | Royal Bank of Canada                                 | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | CORP              | US        |     71908 | PA      | $71908.00     | 0.01%             | 2025-10-01      | Fixed         | 4.31%                 | 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        |    287632 | NS      | $287632.00    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

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

**Name of Applicant:** JANUS INVESTMENT FUND

**Signature:** JESPER NERGAARD

**Name of Signer:** JESPER NERGAARD

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