NPORT-EX 2 JHI_AAA_CLO_ETF.htm 7.31 PART F
Janus
Henderson
AAA
CLO
ETF
Schedule
of
Investments
(unaudited)
July
31,
2023
1
Shares/
Principal
Amounts
Value
Collateralized
Loan
Obligations
-
101.3%
AGL
CLO
14
Ltd.
2021-14A
A,
CME
Term
SOFR
3
Month
+
1.4116%,
6.7451%,
12/2/34
(144A)
‡
$
59,020,000
$
58,759,427
AGL
CLO
16
Ltd.
2021-16A
A,
CME
Term
SOFR
3
Month
+
1.3916%,
6.7178%,
1/20/35
(144A)
‡
26,341,220
26,176,271
AGL
CLO
6
Ltd.
2020-6A
AR,
CME
Term
SOFR
3
Month
+
1.4616%,
6.7877%,
7/20/34
(144A)
‡
36,475,000
36,268,916
AGL
Core
CLO
4
Ltd.
2020-4A
A1R,
CME
Term
SOFR
3
Month
+
1.3316%,
6.6578%,
4/20/33
(144A)
‡
5,500,000
5,460,433
Allegro
CLO
XII
Ltd.
2020-1A
A1,
CME
Term
SOFR
3
Month
+
1.5116%,
6.8451%,
1/21/32
(144A)
‡
34,225,000
34,079,475
Anchorage
Capital
CLO
24
Ltd.
2022-24A
A1,
CME
Term
SOFR
3
Month
+
1.4800%,
6.7880%,
4/15/34
(144A)
‡
19,875,000
19,770,199
Anchorage
Capital
CLO
9
Ltd.
2016-9A
AR2,
CME
Term
SOFR
3
Month
+
1.4016%,
6.7096%,
7/15/32
(144A)
‡
34,000,000
33,780,734
Anchorage
Capital
CLO
Ltd.
2014-4RA
A,
CME
Term
SOFR
3
Month
+
1.3116%,
6.6772%,
1/28/31
(144A)
‡
13,142,566
13,088,800
Ares
LV
CLO
Ltd.
2020-55A
A1R,
ICE
LIBOR
USD
3
Month
+
1.1300%,
6.6996%,
7/15/34
(144A)
‡
36,645,000
36,465,183
Ares
LXI
CLO
Ltd.
2021-61A
A,
CME
Term
SOFR
3
Month
+
1.4116%,
6.7377%,
10/20/34
(144A)
‡
28,783,000
28,643,805
Ares
XLI
CLO
Ltd.
2016-41A
AR2,
CME
Term
SOFR
3
Month
+
1.3316%,
6.6396%,
4/15/34
(144A)
‡
23,435,000
23,195,588
Ares
XXXIV
CLO
Ltd.
2015-2A
AR2,
CME
Term
SOFR
3
Month
+
1.5116%,
6.8196%,
4/17/33
(144A)
‡
11,995,000
11,974,225
Atrium
XIV
LLC
14A
A2A,
CME
Term
SOFR
3
Month
+
1.7116%,
7.0196%,
8/23/30
(144A)
‡
4,400,000
4,342,994
Bain
Capital
Credit
CLO
Ltd.
2021-6A
C,
CME
Term
SOFR
3
Month
+
2.3116%,
7.6451%,
10/21/34
(144A)
‡
10,700,000
10,499,610
Bain
Capital
Credit
CLO
Ltd.
2023-3A
C,
CME
Term
SOFR
3
Month
+
3.2500%,
0.0000%,
7/24/36
(144A)
‡
19,200,000
19,201,632
Ballyrock
CLO
Ltd.
2019-1A
A1R,
CME
Term
SOFR
3
Month
+
1.2916%,
6.5996%,
7/15/32
(144A)
‡
22,590,000
22,445,379
Barings
CLO
Ltd.
LP-2A
A,
ICE
LIBOR
USD
3
Month
+
1.1000%,
6.6877%,
1/20/34
(144A)
‡
10,450,000
10,379,901
Battalion
CLO
VIII
Ltd.
2015-8A
A1R2,
CME
Term
SOFR
3
Month
+
1.3316%,
6.6415%,
7/18/30
(144A)
‡
13,679,477
13,620,532
Benefit
Street
Partners
CLO
VIII
Ltd.
2015-8A
A1AR,
CME
Term
SOFR
3
Month
+
1.3616%,
6.6877%,
1/20/31
(144A)
‡
2,824,463
2,815,001
Benefit
Street
Partners
CLO
XIX
Ltd.
2019-19A
A,
CME
Term
SOFR
3
Month
+
1.6116%,
6.9196%,
1/15/33
(144A)
‡
35,000,000
34,927,095
Bethpage
Park
CLO
Ltd.
2021-1A
A,
CME
Term
SOFR
3
Month
+
1.3916%,
6.6996%,
1/15/35
(144A)
‡
22,000,000
21,856,956
BlueMountain
CLO
XXIV
Ltd.
2019-24A
AR,
CME
Term
SOFR
3
Month
+
1.3616%,
6.6877%,
4/20/34
(144A)
‡
23,700,000
23,423,634
BlueMountain
CLO
XXXII
Ltd.
2021-32A
A,
CME
Term
SOFR
3
Month
+
1.4316%,
6.7396%,
10/15/34
(144A)
‡
12,150,000
12,053,359
BlueMountain
CLO
XXXIII
Ltd.
2021-33A
A,
ICE
LIBOR
USD
3
Month
+
1.1900%,
6.5691%,
11/20/34
(144A)
‡
17,400,000
17,187,807
BlueMountain
Fuji
US
CLO
III
Ltd.
2017-3A
A2,
CME
Term
SOFR
3
Month
+
1.4116%,
6.7196%,
1/15/30
(144A)
‡
3,500,000
3,427,116
Buckhorn
Park
CLO
Ltd.
2019-1A
AR,
CME
Term
SOFR
3
Month
+
1.3816%,
6.6915%,
7/18/34
(144A)
‡
33,680,000
33,526,352
Canyon
Capital
CLO
Ltd.
2014-1A
A1BR,
CME
Term
SOFR
3
Month
+
1.4316%,
6.8007%,
1/30/31
(144A)
‡
3,010,000
2,955,928
Janus
Henderson
AAA
CLO
ETF
Schedule
of
Investments
(unaudited)
July
31,
2023
2
Shares/
Principal
Amounts
Value
Collateralized
Loan
Obligations
-
(continued)
Carlyle
US
CLO
Ltd.
2017-5A
A1B,
CME
Term
SOFR
3
Month
+
1.5116%,
6.8378%,
1/20/30
(144A)
‡
$
12,527,000
$
12,287,396
Carlyle
US
CLO
Ltd.
2019-1A
A1AR,
CME
Term
SOFR
3
Month
+
1.3416%,
6.6678%,
4/20/31
(144A)
‡
25,170,000
25,077,475
Carlyle
US
CLO
Ltd.
2021-1A
A1,
ICE
LIBOR
USD
3
Month
+
1.1400%,
6.7096%,
4/15/34
(144A)
‡
48,360,000
48,186,436
Carlyle
US
CLO
Ltd.
2020-2A
A1R,
ICE
LIBOR
USD
3
Month
+
1.1400%,
6.7528%,
1/25/35
(144A)
‡
28,810,000
28,521,900
Carlyle
US
CLO
Ltd.
2021-7A
A1,
ICE
LIBOR
USD
3
Month
+
1.1600%,
6.7296%,
10/15/35
(144A)
‡
34,000,000
33,878,790
CARLYLE
US
CLO
Ltd.
2021-3SA
A1,
ICE
LIBOR
USD
3
Month
+
1.0600%,
6.6296%,
4/15/34
(144A)
‡
16,800,000
16,684,013
CARLYLE
US
CLO
Ltd.
2023-2A
A2,
CME
Term
SOFR
3
Month
+
2.2500%,
7.5054%,
7/20/36
(144A)
‡
9,000,000
9,017,064
CARLYLE
US
CLO
Ltd.
2023-2A
C,
CME
Term
SOFR
3
Month
+
3.0000%,
8.2554%,
7/20/36
(144A)
‡
13,000,000
13,016,640
CBAM
Ltd.
2018-8A
A1,
CME
Term
SOFR
3
Month
+
1.3816%,
6.7078%,
10/20/29
(144A)
‡
9,721,066
9,679,547
CBAM
Ltd.
2019-10A
A1R,
CME
Term
SOFR
3
Month
+
1.3816%,
6.7078%,
4/20/32
(144A)
‡
29,500,000
29,300,226
CBAM
Ltd.
2021-14A
A,
CME
Term
SOFR
3
Month
+
1.3616%,
6.6877%,
4/20/34
(144A)
‡
20,000,000
19,692,140
CBAM
Ltd.
2020-12A
AR,
CME
Term
SOFR
3
Month
+
1.4416%,
6.7678%,
7/20/34
(144A)
‡
25,000,000
24,703,750
CBAM
Ltd.
2019-11RA
A1,
CME
Term
SOFR
3
Month
+
1.4416%,
6.7678%,
1/20/35
(144A)
‡
16,897,000
16,771,084
CBAM
Ltd.
2019-11RA
A2,
CME
Term
SOFR
3
Month
+
1.7616%,
7.0877%,
1/20/35
(144A)
‡
13,889,000
13,468,733
Cedar
Funding
VIII
CLO
Ltd.
2017-8A
A1R,
CME
Term
SOFR
3
Month
+
1.4116%,
6.7196%,
10/17/34
(144A)
‡
10,895,000
10,825,926
Cedar
Funding
XI
CLO
Ltd.
2019-11A
A1R,
ICE
LIBOR
USD
3
Month
+
1.0500%,
6.5131%,
5/29/32
(144A)
‡
22,000,000
21,879,594
CIFC
Funding
2019-I
Ltd.
2019-1A
AR,
CME
Term
SOFR
3
Month
+
1.3616%,
6.6877%,
4/20/32
(144A)
‡
10,375,000
10,328,219
CIFC
Funding
2019-V
Ltd.
2019-5A
A2RS,
CME
Term
SOFR
3
Month
+
2.0116%,
7.3196%,
1/15/35
(144A)
‡
15,500,000
15,331,716
CIFC
Funding
2020-III
Ltd.
2020-3A
A1R,
CME
Term
SOFR
3
Month
+
1.3916%,
6.7178%,
10/20/34
(144A)
‡
38,250,000
37,915,427
CIFC
Funding
Ltd.
2017-1A
AR,
CME
Term
SOFR
3
Month
+
1.2716%,
6.6051%,
4/23/29
(144A)
‡
7,384,642
7,385,483
CIFC
Funding
Ltd.
2013-2A
A3LR,
CME
Term
SOFR
3
Month
+
2.2116%,
7.5215%,
10/18/30
(144A)
‡
6,205,000
6,040,189
CIFC
Funding
Ltd.
2019-6A
C,
CME
Term
SOFR
3
Month
+
2.9616%,
8.2696%,
1/16/33
(144A)
‡
1,500,000
1,499,363
CIFC
Funding
Ltd.
2014-4RA
A1AR,
CME
Term
SOFR
3
Month
+
1.4316%,
6.7396%,
1/17/35
(144A)
‡
66,005,000
65,786,061
CIFC
Funding
Ltd.
2021-7A
A1,
CME
Term
SOFR
3
Month
+
1.3916%,
6.7372%,
1/23/35
(144A)
‡
35,826,000
35,512,881
Deer
Creek
CLO
Ltd.
2017-1A
A,
CME
Term
SOFR
3
Month
+
1.4416%,
6.7678%,
10/20/30
(144A)
‡
2,178,969
2,170,168
Dryden
105
CLO
Ltd.
2023-105A
A,
CME
Term
SOFR
3
Month
+
1.8000%,
6.6586%,
4/18/36
(144A)
‡
27,000,000
27,102,357
Dryden
105
CLO
Ltd.
2023-105A
C,
CME
Term
SOFR
3
Month
+
3.1000%,
7.9586%,
4/18/36
(144A)
‡
16,550,000
16,493,465
Janus
Henderson
AAA
CLO
ETF
Schedule
of
Investments
(unaudited)
July
31,
2023
3
Shares/
Principal
Amounts
Value
Collateralized
Loan
Obligations
-
(continued)
Dryden
107
CLO
Ltd.
2023-107A
C,
CME
Term
SOFR
3
Month
+
3.0000%,
0.0000%,
8/15/35
(144A)
‡
$
24,750,000
$
24,752,178
Dryden
72
CLO
Ltd.
2019-72A
AR,
ICE
LIBOR
USD
3
Month
+
1.0800%,
6.4007%,
5/15/32
(144A)
‡
30,000,000
29,866,860
Dryden
75
CLO
Ltd.
2019-75A
AR2,
CME
Term
SOFR
3
Month
+
1.3016%,
6.6096%,
4/15/34
(144A)
‡
46,811,000
46,169,268
Dryden
76
CLO
Ltd.
2019-76A
A1R,
CME
Term
SOFR
3
Month
+
1.4116%,
6.7377%,
10/20/34
(144A)
‡
10,000,000
9,951,390
Dryden
78
CLO
Ltd.
2020-78A
A,
CME
Term
SOFR
3
Month
+
1.4416%,
6.7496%,
4/17/33
(144A)
‡
7,750,000
7,725,611
Dryden
85
CLO
Ltd.
2020-85A
AR,
CME
Term
SOFR
3
Month
+
1.4116%,
6.7196%,
10/15/35
(144A)
‡
44,633,000
44,196,088
Eaton
Vance
CLO
Ltd.
2020-1A
AR,
CME
Term
SOFR
3
Month
+
1.4316%,
6.7396%,
10/15/34
(144A)
‡
25,850,000
25,675,357
Elmwood
CLO
23
Ltd.
2023-2A
A,
CME
Term
SOFR
3
Month
+
1.8000%,
6.8567%,
4/16/36
(144A)
‡
40,000,000
40,171,120
Empower
CLO
Ltd.
2023-2A
A2,
CME
Term
SOFR
3
Month
+
2.4000%,
0.0000%,
7/15/36
(144A)
‡
22,500,000
22,501,980
Galaxy
XX
CLO
Ltd.
2015-20A
AR,
CME
Term
SOFR
3
Month
+
1.2616%,
6.5878%,
4/20/31
(144A)
‡
4,187,920
4,171,390
Golub
Capital
Partners
CLO
58B
Ltd.
2021-58A
A2,
CME
Term
SOFR
3
Month
+
1.7116%,
7.0628%,
1/25/35
(144A)
‡
10,000,000
9,677,510
Golub
Capital
Partners
CLO
66B
Ltd.
2023-66A
A,
CME
Term
SOFR
3
Month
+
1.9500%,
6.9259%,
4/25/36
(144A)
‡
47,500,000
47,627,062
Gulf
Stream
Meridian
4
Ltd.
2021-4A
A1,
CME
Term
SOFR
3
Month
+
1.4616%,
6.7696%,
7/15/34
(144A)
‡
17,656,000
17,563,889
Hayfin
US
XIV
Ltd.
2021-14A
A1,
CME
Term
SOFR
3
Month
+
1.4916%,
6.8177%,
7/20/34
(144A)
‡
16,800,000
16,627,800
Jay
Park
CLO
Ltd.
2016-1A
A2R,
CME
Term
SOFR
3
Month
+
1.7116%,
7.0378%,
10/20/27
(144A)
‡
22,000,000
21,893,784
JMP
Credit
Advisors
CLO
IV
Ltd.
2017-1A
AR,
CME
Term
SOFR
3
Month
+
1.5416%,
6.8496%,
7/17/29
(144A)
‡
1,229,583
1,228,126
KKR
CLO
24
Ltd.
24
A1R,
CME
Term
SOFR
3
Month
+
1.3416%,
6.6678%,
4/20/32
(144A)
‡
7,110,000
7,074,393
KKR
CLO
27
Ltd.
27A
AR,
CME
Term
SOFR
3
Month
+
1.2800%,
6.5880%,
10/15/32
(144A)
‡
20,700,000
20,469,816
KKR
CLO
35
Ltd.
35A
A,
CME
Term
SOFR
3
Month
+
1.4516%,
6.7777%,
10/20/34
(144A)
‡
31,345,000
31,156,585
KKR
CLO
37
Ltd.
37A
A1A,
CME
Term
SOFR
3
Month
+
1.4316%,
6.7578%,
1/20/35
(144A)
‡
18,750,000
18,568,613
KKR
CLO
Ltd.
22A
A,
CME
Term
SOFR
3
Month
+
1.4116%,
6.7377%,
7/20/31
(144A)
‡
3,000,000
2,984,583
LCM
Loan
Income
Fund
I
Income
Note
Issuer
Ltd.
27A
A2,
CME
Term
SOFR
3
Month
+
1.5616%,
6.8696%,
7/16/31
(144A)
‡
18,000,000
17,574,552
LCM
XXIII
Ltd.
23A
A1R,
CME
Term
SOFR
3
Month
+
1.3316%,
6.6578%,
10/20/29
(144A)
‡
15,880,845
15,813,685
LCM
XXIV
Ltd.
24A
AR,
CME
Term
SOFR
3
Month
+
1.2416%,
6.5678%,
3/20/30
(144A)
‡
30,597,715
30,293,421
Logan
CLO
I
Ltd.
2021-1A
A,
CME
Term
SOFR
3
Month
+
1.4216%,
6.7478%,
7/20/34
(144A)
‡
32,950,000
32,837,245
Logan
CLO
II
Ltd.
2021-2A
A,
CME
Term
SOFR
3
Month
+
1.4116%,
6.7377%,
1/20/35
(144A)
‡
24,196,521
24,084,201
Madison
Park
Funding
LXII
Ltd.
2022-62A
CR,
CME
Term
SOFR
3
Month
+
3.0000%,
8.3080%,
7/17/36
(144A)
‡
18,000,000
17,998,974
Janus
Henderson
AAA
CLO
ETF
Schedule
of
Investments
(unaudited)
July
31,
2023
4
Shares/
Principal
Amounts
Value
Collateralized
Loan
Obligations
-
(continued)
Madison
Park
Funding
LXIII
Ltd.
2023-63A
A2,
CME
Term
SOFR
3
Month
+
2.2500%,
7.3325%,
4/21/35
(144A)
‡
$
15,000,000
$
15,026,130
Madison
Park
Funding
XX
Ltd.
2016-20A
A2R,
CME
Term
SOFR
3
Month
+
1.5616%,
6.9190%,
7/27/30
(144A)
‡
4,750,000
4,691,048
Madison
Park
Funding
XXI
Ltd.
2016-21A
AARR,
CME
Term
SOFR
3
Month
+
1.3416%,
6.6496%,
10/15/32
(144A)
‡
50,750,000
50,505,943
Madison
Park
Funding
XXXVIII
Ltd.
2021-38A
A,
CME
Term
SOFR
3
Month
+
1.3816%,
6.6896%,
7/17/34
(144A)
‡
27,780,000
27,620,543
Magnetite
XV
Ltd.
2015-15A
CR,
CME
Term
SOFR
3
Month
+
2.0616%,
7.4128%,
7/25/31
(144A)
‡
6,950,000
6,762,364
Magnetite
Xxix
Ltd.
2021-29A
A,
CME
Term
SOFR
3
Month
+
1.2516%,
6.5596%,
1/15/34
(144A)
‡
21,806,000
21,679,111
Magnetite
XXV
Ltd.
2020-25A
A,
CME
Term
SOFR
3
Month
+
1.4616%,
6.8128%,
1/25/32
(144A)
‡
12,845,000
12,837,794
Magnetite
XXVI
Ltd.
2020-26A
A1R,
CME
Term
SOFR
3
Month
+
1.3816%,
6.7328%,
7/25/34
(144A)
‡
20,085,536
19,974,222
Marble
Point
CLO
XI
Ltd.
2017-2A
A,
CME
Term
SOFR
3
Month
+
1.4416%,
6.7515%,
12/18/30
(144A)
‡
2,704,660
2,684,808
Mountain
View
CLO
LLC
2017-2A
AR,
CME
Term
SOFR
3
Month
+
1.3016%,
6.6096%,
1/16/31
(144A)
‡
24,341,443
24,212,068
MP
CLO
III
Ltd.
2013-1A
AR,
CME
Term
SOFR
3
Month
+
1.5116%,
6.8378%,
10/20/30
(144A)
‡
15,456,298
15,305,089
Neuberger
Berman
CLO
XVI-S
Ltd.
2017-16SA
CR,
CME
Term
SOFR
3
Month
+
2.1616%,
7.4696%,
4/15/34
(144A)
‡
8,000,000
7,613,992
Neuberger
Berman
Loan
Advisers
CLO
30
Ltd.
2018-30A
CR,
CME
Term
SOFR
3
Month
+
2.0116%,
7.3378%,
1/20/31
(144A)
‡
7,000,000
6,810,251
Neuberger
Berman
Loan
Advisers
CLO
33
Ltd.
2019-33A
AR,
CME
Term
SOFR
3
Month
+
1.3416%,
6.6496%,
10/16/33
(144A)
‡
23,300,000
23,237,533
Neuberger
Berman
Loan
Advisers
CLO
42
Ltd.
2021-42A
A,
CME
Term
SOFR
3
Month
+
1.3616%,
6.6696%,
7/16/35
(144A)
‡
11,368,725
11,304,787
Neuberger
Berman
Loan
Advisers
CLO
43
Ltd.
2021-43A
A,
CME
Term
SOFR
3
Month
+
1.3916%,
6.6996%,
7/17/35
(144A)
‡
25,725,000
25,609,212
Northwoods
Capital
XII-B
Ltd.
2018-12BA
A2,
ICE
LIBOR
USD
3
Month
+
1.6000%,
7.1520%,
6/15/31
(144A)
‡
28,390,000
28,265,907
NYACK
Park
CLO
Ltd.
2021-1A
A,
CME
Term
SOFR
3
Month
+
1.3816%,
6.7078%,
10/20/34
(144A)
‡
22,061,613
21,839,982
Oaktree
CLO
Ltd.
2019-2A
A1AR,
CME
Term
SOFR
3
Month
+
1.3816%,
6.6896%,
4/15/31
(144A)
‡
3,000,000
2,987,325
Oaktree
CLO
Ltd.
2023-2A
AJ,
CME
Term
SOFR
3
Month
+
2.2500%,
7.6320%,
7/20/36
(144A)
‡
8,000,000
8,005,920
OCP
CLO
Ltd.
2019-17A
A1R,
CME
Term
SOFR
3
Month
+
1.3016%,
6.6278%,
7/20/32
(144A)
‡
40,000,000
39,643,160
Octagon
54
Ltd.
2021-1A
A1,
CME
Term
SOFR
3
Month
+
1.3816%,
6.6896%,
7/15/34
(144A)
‡
14,060,000
13,961,678
Octagon
55
Ltd.
2021-1A
A1,
CME
Term
SOFR
3
Month
+
1.4016%,
6.7277%,
7/20/34
(144A)
‡
40,000,000
39,782,920
Octagon
Investment
Partners
29
Ltd.
2016-1A
AR,
CME
Term
SOFR
3
Month
+
1.4416%,
6.7872%,
1/24/33
(144A)
‡
46,716,000
46,555,858
Octagon
Investment
Partners
40
Ltd.
2019-1A
A1R,
CME
Term
SOFR
3
Month
+
1.4316%,
6.7578%,
1/20/35
(144A)
‡
22,000,000
21,804,530
Octagon
Investment
Partners
44
Ltd.
2019-1A
AR,
CME
Term
SOFR
3
Month
+
1.4416%,
6.7496%,
10/15/34
(144A)
‡
48,600,000
48,322,057
Octagon
Investment
Partners
45
Ltd.
2019-1A
A1R,
CME
Term
SOFR
3
Month
+
1.3400%,
6.6480%,
4/15/35
(144A)
‡
9,380,000
9,246,025
Janus
Henderson
AAA
CLO
ETF
Schedule
of
Investments
(unaudited)
July
31,
2023
5
Shares/
Principal
Amounts
Value
Collateralized
Loan
Obligations
-
(continued)
Octagon
Investment
Partners
48
Ltd.
2020-3A
AR,
CME
Term
SOFR
3
Month
+
1.4116%,
6.7377%,
10/20/34
(144A)
‡
$
25,518,000
$
25,291,375
Octagon
Investment
Partners
49
Ltd.
2020-5A
A1,
CME
Term
SOFR
3
Month
+
1.4816%,
6.7896%,
1/15/33
(144A)
‡
35,000,000
34,904,030
Octagon
Investment
Partners
50
Ltd.
2020-4A
AR,
CME
Term
SOFR
3
Month
+
1.4116%,
6.7196%,
1/15/35
(144A)
‡
53,400,000
53,062,779
Octagon
Investment
Partners
XIV
Ltd.
2012-1A
ABRR,
CME
Term
SOFR
3
Month
+
1.5116%,
6.8196%,
7/15/29
(144A)
‡
20,000,000
19,705,420
Octagon
Investment
Partners
XXI
Ltd.
2014-1A
AAR3,
ICE
LIBOR
USD
3
Month
+
1.0000%,
6.3207%,
2/14/31
(144A)
‡
16,100,000
16,025,232
OHA
Credit
Funding
3
Ltd.
2019-3A
AR,
CME
Term
SOFR
3
Month
+
1.4016%,
6.7277%,
7/2/35
(144A)
‡
84,000,000
83,624,184
OHA
Credit
Funding
8
Ltd.
2021-8A
A,
CME
Term
SOFR
3
Month
+
1.4516%,
6.7615%,
1/18/34
(144A)
‡
17,500,000
17,464,125
Palmer
Square
CLO
Ltd.
2021-4A
A,
CME
Term
SOFR
3
Month
+
1.4316%,
6.7396%,
10/15/34
(144A)
‡
29,400,000
29,283,194
Palmer
Square
Loan
Funding
Ltd.
2021-1A
A1,
CME
Term
SOFR
3
Month
+
1.1616%,
6.4878%,
4/20/29
(144A)
‡
10,150,626
10,120,214
Palmer
Square
Loan
Funding
Ltd.
2022-1A
B,
CME
Term
SOFR
3
Month
+
2.0000%,
7.3080%,
4/15/30
(144A)
‡
15,000,000
14,324,895
Palmer
Square
Loan
Funding
Ltd.
2023-1A
B,
CME
Term
SOFR
3
Month
+
2.8000%,
8.0554%,
7/20/31
(144A)
‡
16,500,000
16,497,343
Palmer
Square
Loan
Funding
Ltd.
2022-4A
B,
CME
Term
SOFR
3
Month
+
2.7500%,
8.0956%,
7/24/31
(144A)
‡
9,750,000
9,745,729
Post
CLO
Ltd.
2023-1A
A,
CME
Term
SOFR
3
Month
+
1.9500%,
6.8292%,
4/20/36
(144A)
‡
30,000,000
30,135,120
Race
Point
VIII
CLO
Ltd.
2013-8A
BR2,
ICE
LIBOR
USD
3
Month
+
1.5000%,
6.8791%,
2/20/30
(144A)
‡
19,290,000
18,825,863
Rad
CLO
10
Ltd.
2021-10A
A,
CME
Term
SOFR
3
Month
+
1.4316%,
6.7772%,
4/23/34
(144A)
‡
5,000,000
4,960,230
Rad
CLO
19
Ltd.
2023-19A
C,
CME
Term
SOFR
3
Month
+
3.3500%,
8.4450%,
4/20/35
(144A)
‡
15,500,000
15,517,608
Rad
CLO
20
Ltd.
2023-20A
C,
CME
Term
SOFR
3
Month
+
3.0000%,
0.0000%,
7/20/36
(144A)
‡
18,500,000
18,501,647
Recette
CLO
Ltd.
2015-1A
ARR,
ICE
LIBOR
USD
3
Month
+
1.0800%,
6.6678%,
4/20/34
(144A)
‡
22,620,000
22,436,891
Regatta
Funding
LP
2013-2A
A1R3,
CME
Term
SOFR
3
Month
+
1.1116%,
6.4196%,
1/15/29
(144A)
‡
8,491,718
8,443,528
Regatta
XX
Funding
Ltd.
2021-2A
A,
CME
Term
SOFR
3
Month
+
1.4216%,
6.7296%,
10/15/34
(144A)
‡
13,481,022
13,399,651
Regatta
XXIII
Funding
Ltd.
2021-4A
A1,
CME
Term
SOFR
3
Month
+
1.4116%,
6.7377%,
1/20/35
(144A)
‡
55,998,000
55,526,889
Regatta
XXV
Funding
Ltd.
2023-1A
A,
CME
Term
SOFR
3
Month
+
1.9000%,
7.1543%,
7/15/36
(144A)
‡
10,000,000
10,035,270
Regatta
XXV
Funding
Ltd.
2023-1A
C,
CME
Term
SOFR
3
Month
+
3.0500%,
8.3043%,
7/15/36
(144A)
‡
11,000,000
10,997,866
Rockford
Tower
CLO
Ltd.
2017-3A
A,
CME
Term
SOFR
3
Month
+
1.4516%,
6.7777%,
10/20/30
(144A)
‡
23,977,617
23,960,521
Rockford
Tower
CLO
Ltd.
2017-1A
AR2,
CME
Term
SOFR
3
Month
+
1.3616%,
6.6877%,
4/20/34
(144A)
‡
14,500,000
14,311,486
Sandstone
Peak
II
Ltd.
2023-1A
A,
CME
Term
SOFR
3
Month
+
2.2000%,
7.3481%,
7/20/36
(144A)
‡
50,000,000
50,341,750
Sandstone
Peak
II
Ltd.
2023-1A
C,
CME
Term
SOFR
3
Month
+
3.5000%,
8.6481%,
7/20/36
(144A)
‡
13,600,000
13,617,517
Janus
Henderson
AAA
CLO
ETF
Schedule
of
Investments
(unaudited)
July
31,
2023
6
Shares/
Principal
Amounts
Value
Collateralized
Loan
Obligations
-
(continued)
Saratoga
Investment
Corp.
CLO
Ltd.
2013-1A
A2R3,
CME
Term
SOFR
3
Month
+
1.9116%,
7.2377%,
4/20/33
(144A)
‡
$
35,000,000
$
34,076,525
Shackleton
CLO
Ltd.
2017-11A
AR,
ICE
LIBOR
USD
3
Month
+
1.0900%,
6.4107%,
8/15/30
(144A)
‡
46,345,419
46,092,327
Shackleton
CLO
Ltd.
2019-14A
A1R,
CME
Term
SOFR
3
Month
+
1.4616%,
6.7877%,
7/20/34
(144A)
‡
3,825,000
3,758,663
Signal
Peak
CLO
1
Ltd.
2014-1A
AR3,
CME
Term
SOFR
3
Month
+
1.4216%,
6.7296%,
4/17/34
(144A)
‡
24,920,000
24,811,399
Signal
Peak
CLO
12
Ltd.
2022-12A
A1,
CME
Term
SOFR
3
Month
+
1.5400%,
6.8499%,
7/18/34
(144A)
‡
80,141,000
80,045,232
Signal
Peak
CLO
5
Ltd.
2018-5A
A,
CME
Term
SOFR
3
Month
+
1.3716%,
6.7228%,
4/25/31
(144A)
‡
14,933,579
14,914,285
Sound
Point
CLO
VI-R
Ltd.
2014-2RA
A,
CME
Term
SOFR
3
Month
+
1.5116%,
6.8378%,
10/20/31
(144A)
‡
4,000,000
3,934,844
Sound
Point
CLO
XVII
2017-3A
A1R,
CME
Term
SOFR
3
Month
+
1.2416%,
6.5678%,
10/20/30
(144A)
‡
21,803,328
21,687,094
Sounds
Point
CLO
IV-R
Ltd.
2013-3RA
A,
CME
Term
SOFR
3
Month
+
1.4116%,
6.7215%,
4/18/31
(144A)
‡
5,000,000
4,950,435
Steele
Creek
CLO
Ltd.
2014-1RA
A,
CME
Term
SOFR
3
Month
+
1.3316%,
6.6651%,
4/21/31
(144A)
‡
9,456,043
9,407,033
Steele
Creek
CLO
Ltd.
2018-2A
A,
ICE
LIBOR
USD
3
Month
+
1.2000%,
6.5451%,
8/18/31
(144A)
‡
13,000,000
12,845,794
Symphony
CLO
XV
Ltd.
2014-15A
AR3,
CME
Term
SOFR
3
Month
+
1.3416%,
6.6496%,
1/17/32
(144A)
‡
19,035,000
18,936,265
Symphony
CLO
XXII
Ltd.
2020-22A
A1A,
CME
Term
SOFR
3
Month
+
1.5516%,
6.8615%,
4/18/33
(144A)
‡
2,650,000
2,649,282
Symphony
CLO
XXVI
Ltd.
2021-26A
AR,
CME
Term
SOFR
3
Month
+
1.3416%,
6.6678%,
4/20/33
(144A)
‡
18,110,000
17,974,012
TCW
CLO
Ltd.
2020-1A
A1RR,
ICE
LIBOR
USD
3
Month
+
1.1600%,
6.7478%,
4/20/34
(144A)
‡
15,000,000
14,925,330
THL
Credit
Wind
River
CLO
Ltd.
2014-2A
AR,
CME
Term
SOFR
3
Month
+
1.4016%,
6.7096%,
1/15/31
(144A)
‡
35,039,081
34,948,295
TICP
CLO
XII
Ltd.
2018-12A
AR,
CME
Term
SOFR
3
Month
+
1.4316%,
6.7396%,
7/15/34
(144A)
‡
11,080,000
10,992,180
TICP
CLO
XIV
Ltd.
2019-14A
A1R,
CME
Term
SOFR
3
Month
+
1.3416%,
6.6678%,
10/20/32
(144A)
‡
26,980,000
26,846,638
Tikehau
US
CLO
I
Ltd.
2021-1A
A2,
CME
Term
SOFR
3
Month
+
1.7116%,
7.0215%,
1/18/35
(144A)
‡
8,000,000
7,745,344
Trimaran
Cavu
Ltd.
2019-1A
A2,
CME
Term
SOFR
3
Month
+
2.1616%,
7.4878%,
7/20/32
(144A)
‡
7,000,000
6,855,492
Venture
32
CLO
Ltd.
2018-32A
A1,
CME
Term
SOFR
3
Month
+
1.3616%,
6.6715%,
7/18/31
(144A)
‡
3,766,000
3,740,203
Venture
42
CLO
Ltd.
2021-42A
A2,
CME
Term
SOFR
3
Month
+
1.5616%,
6.8696%,
4/15/34
(144A)
‡
5,000,000
4,874,880
Venture
43
CLO
Ltd.
2021-43A
A2,
CME
Term
SOFR
3
Month
+
1.7616%,
7.0696%,
4/15/34
(144A)
‡
7,500,000
7,345,125
Voya
CLO
Ltd.
2014-2A
A1RR,
CME
Term
SOFR
3
Month
+
1.2816%,
6.5896%,
4/17/30
(144A)
‡
19,804,295
19,741,614
Voya
CLO
Ltd.
2018-1A
A1,
CME
Term
SOFR
3
Month
+
1.2116%,
6.5317%,
4/19/31
(144A)
‡
8,451,790
8,433,483
Voya
CLO
Ltd.
2017-3A
A1R,
CME
Term
SOFR
3
Month
+
1.3016%,
6.6278%,
4/20/34
(144A)
‡
15,760,000
15,565,490
Whitebox
CLO
IV
Ltd.
2023-4A
A2,
CME
Term
SOFR
3
Month
+
2.3000%,
7.0797%,
4/20/36
(144A)
‡
20,000,000
20,075,040
Janus
Henderson
AAA
CLO
ETF
Schedule
of
Investments
(unaudited)
July
31,
2023
7
Shares/
Principal
Amounts
Value
Collateralized
Loan
Obligations
-
(continued)
Wind
River
CLO
Ltd.
2014-1A
ARR,
CME
Term
SOFR
3
Month
+
1.3116%,
6.6215%,
7/18/31
(144A)
‡
$
20,913,934
$
20,690,970
Wind
River
CLO
Ltd.
2023-1A
C2,
CME
Term
SOFR
3
Month
+
3.7500%,
8.8209%,
4/25/36
(144A)
‡
7,500,000
7,531,492
Zais
CLO
13
Ltd.
2019-13A
A1A,
CME
Term
SOFR
3
Month
+
1.7516%,
7.0596%,
7/15/32
(144A)
‡
20,000,000
19,821,680
Total
Collateralized
Loan
Obligations
(cost
$3,412,040,908)
3,431,104,936
Investment
Companies
-
0.8%
Money
Market
Funds
-
0.8%
Janus
Henderson
Cash
Liquidity
Fund
LLC,
5.2625%
£,∞
(cost
$25,516,559)
25,511,457
25,516,559
Total
Investments
(total
cost
$3,437,557,467
)
-
102.1%
3,456,621,495
Liabilities,
net
of
Cash,
Receivables
and
Other
Assets
-
(2.1%)
(69,789,182)
Net
Assets
-
100.0%
$3,386,832,313
Janus
Henderson
AAA
CLO
ETF
Schedule
of
Investments
(unaudited)
July
31,
2023
8
Summary
of
Investments
by
Country
-
(Long
Positions)
(unaudited)
Country
Value
%
of
Investment
Securities
United
States
$
3,456,621,495
100.0
%
–
–
Schedule
of
Affiliated
Investments
-
(%
of
Net
Assets)
Dividend
Income
Realized
Gain/(Loss)
Change
in
Unrealized
Appreciatio
n/
(Depreciation)
Value
at
7/31/23
Investment
Company
-
0.8%
Money
Market
Funds
-
0.8%
Janus
Henderson
Cash
Liquidity
Fund
LLC,
5.2625%
∞
$
1,985,227
$
14,161
$
(6,793)
$
25,516,559
Market
Value
at
10/31/22
Purchases
Sales
Market
Value
at
7/31/23
Investment
Company
-
0.8%
Money
Market
Funds
-
0.8%
Janus
Henderson
Cash
Liquidity
Fund
LLC,
5.2625%
∞
$
117,098,991
$
1,857,866,890
$
(1,949,456,690)
$
25,516,559
Janus
Henderson
AAA
CLO
ETF
Notes
to
Schedule
of
Investments
and
Other
Information
(unaudited)
July
31,
2023
9
ICE
Intercontinental
Exchange
LIBOR
LIBOR
(London
Interbank
Offered
Rate)
is
a
short-term
interest
rate
that
banks
offer
one
another
and
generally
represents
current
cash
rates.
LLC
Limited
Liability
Company
LP
Limited
Partnership
SOFR
Secured
Overnight
Financing
Rate
∞
Rate
shown
is
the
7-day
yield
as
of
July
31,
2023.
£
The
Fund
may
invest
in
certain
securities
that
are
considered
affiliated
companies.
As
defined
by
the
Investment
Company
Act
of
1940,
as
amended,
an
affiliated
company
is
one
in
which
the
Fund
owns
5%
or
more
of
the
outstanding
voting
securities,
or
a
company
which
is
under
common
ownership
or
control.
‡
The
interest
rate
on
floating
rate
notes
is
based
on
an
index
or
market
interest
rates
and
is
subject
to
change.
Rate
in
the
security
description
is
as
of
July
31,
2023.
144A
Securities
sold
under
Rule
144A
of
the
Securities
Act
of
1933,
as
amended,
are
subject
to
legal
and/or
contractual
restrictions
on
resale
and
may
not
be
publicly
sold
without
registration
under
the
1993
Act.
Unless
otherwise
noted,
these
securities
have
been
determined
to
be
liquid
in
accordance
with
the
requirements
of
Rule
22e-4,
under
the
1940
Act.
The
total
value
of
144A
securities
as
of
the
period
ended
July
31,
2023
is
$3,431,104,936
which
represents
101.3%
of
net
assets.
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
July
31,
2023
.
See
Notes
to
Financial
Statements
for
more
information.
Valuation
Inputs
Summary
Level
1
-
Quoted
Prices
Level
2
-
Other
Significant
Observable
Inputs
Level
3
-
Significant
Unobservable
Inputs
Assets
Investments
in
Securities:
Collateralized
Loan
Obligations
$
—
$
3,431,104,936
$
—
Investment
Companies
—
25,516,559
—
Total
Assets
$
—
$
3,456,621,495
$
—
10
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,
including
shares
of
exchange-traded
funds,
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
London
Stock
Exchange.
The Fund will
determine
the
market
value
of
individual
securities
held
by
it
by
using
prices
provided
by
one
or
more
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
Adviser-approved
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;
and
certain
short-term
debt
securities
with
maturities
of
60
days
or
less
that
are
fair
valued
at
amortized
cost.
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.
11
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.
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
July
31,
2023 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
and
Other
Information.
For
additional
information
on
the
Fund,
please
refer
to
the
Fund's
most
recent
semiannual
or
annual
shareholder
report.
125-35-70352
09-23