NPORT-EX 2 nportex-167.htm

Janus Henderson Global Sustainable Equity Fund

Schedule of Investments (unaudited)

June 30, 2023

        


Shares

  

Value

 

Common Stocks– 97.6%

   

Auto Components – 1.7%

   
 

Aptiv PLC*

 

4,912

  

$501,466

 

Building Products – 1.2%

   
 

Advanced Drainage Systems Inc

 

3,184

  

362,275

 

Containers & Packaging – 1.6%

   
 

DS Smith PLC

 

138,915

  

479,437

 

Diversified Financial Services – 3.8%

   
 

Mastercard Inc

 

1,850

  

727,605

 
 

Walker & Dunlop Inc

 

5,362

  

424,081

 
  

1,151,686

 

Electric Utilities – 2.1%

   
 

SSE PLC

 

27,920

  

652,683

 

Electrical Equipment – 5.8%

   
 

Legrand SA

 

7,827

  

775,432

 
 

Nidec Corp

 

2,900

  

157,683

 
 

Schneider Electric SE

 

4,565

  

829,112

 
  

1,762,227

 

Electronic Equipment, Instruments & Components – 11.1%

   
 

IPG Photonics Corp*

 

4,238

  

575,605

 
 

Keyence Corp

 

1,200

  

564,319

 
 

Keysight Technologies Inc*

 

2,680

  

448,766

 
 

Murata Manufacturing Co Ltd

 

8,700

  

496,626

 
 

Shimadzu Corp

 

17,500

  

537,081

 
 

TE Connectivity Ltd

 

5,426

  

760,508

 
  

3,382,905

 

Entertainment – 1.1%

   
 

Nintendo Co Ltd

 

7,600

  

344,602

 

Food Products – 0.5%

   
 

McCormick & Co Inc/MD

 

1,557

  

135,817

 

Health Care Equipment & Supplies – 1.6%

   
 

Nanosonics Ltd*

 

27,279

  

86,115

 
 

Olympus Corp

 

24,700

  

387,928

 
  

474,043

 

Health Care Providers & Services – 4.7%

   
 

Encompass Health Corp

 

9,232

  

625,099

 
 

Humana Inc

 

1,810

  

809,305

 
  

1,434,404

 

Independent Power and Renewable Electricity Producers – 2.9%

   
 

Boralex Inc - Class A

 

20,997

  

571,766

 
 

Innergex Renewable Energy Inc

 

34,384

  

320,322

 
  

892,088

 

Industrial Real Estate Investment Trusts (REITs) – 1.1%

   
 

Prologis Inc

 

2,809

  

344,468

 

Insurance – 12.6%

   
 

AIA Group Ltd

 

63,400

  

640,012

 
 

Aon PLC - Class A

 

2,732

  

943,086

 
 

Intact Financial Corp

 

5,175

  

799,105

 
 

Marsh & McLennan Cos Inc

 

3,852

  

724,484

 
 

Progressive Corp/The

 

5,498

  

727,770

 
  

3,834,457

 

Leisure Products – 1.6%

   
 

Shimano Inc

 

3,000

  

498,198

 

Life Sciences Tools & Services – 2.7%

   
 

ICON PLC*

 

3,220

  

805,644

 

Machinery – 8.9%

   
 

Knorr-Bremse AG

 

8,721

  

665,891

 
 

Wabtec Corp

 

9,477

  

1,039,343

 
 

Xylem Inc/NY

 

8,774

  

988,128

 
  

2,693,362

 

Professional Services – 1.8%

   
 

Wolters Kluwer NV

 

4,215

  

534,860

 

Semiconductor & Semiconductor Equipment – 12.3%

   
 

ASML Holding NV

 

819

  

592,462

 
 

Lam Research Corp

 

1,000

  

642,860

 
 

Microchip Technology Inc

 

7,039

  

630,624

 
 

NVIDIA Corp

 

2,768

  

1,170,919

 
 

Texas Instruments Inc

 

3,965

  

713,779

 
  

3,750,644

 

        


Shares

  

Value

 

Common Stocks– (continued)

   

Software – 11.7%

   
 

Atlassian Corp - Class A*

 

835

  

$140,121

 
 

Autodesk Inc*

 

2,519

  

515,413

 
 

Cadence Design Systems Inc*

 

1,726

  

404,781

 
 

Linklogis Inc - Class B (144A)

 

120,992

  

43,081

 
 

Microsoft Corp

 

6,274

  

2,136,548

 
 

Workday Inc - Class A*

 

1,448

  

327,089

 
  

3,567,033

 

Specialized Real Estate Investment Trusts (REITs) – 1.9%

   
 

Crown Castle International Corp

 

2,324

  

264,797

 
 

Equinix Inc

 

405

  

317,496

 
  

582,293

 

Specialty Retail – 1.1%

   
 

Home Depot Inc

 

1,065

  

330,832

 

Textiles, Apparel & Luxury Goods – 1.8%

   
 

adidas AG

 

1,412

  

273,893

 
 

NIKE Inc - Class B

 

2,582

  

284,975

 
  

558,868

 

Wireless Telecommunication Services – 2.0%

   
 

T-Mobile US Inc*

 

4,282

  

594,770

 

Total Common Stocks (cost $25,511,908)

 

29,669,062

 

Investment Companies– 2.5%

   

Money Markets – 2.5%

   
 

Janus Henderson Cash Liquidity Fund LLC, 5.1900%ºº,£((cost $773,225)

 

773,088

  

773,243

 

Total Investments (total cost $26,285,133) – 100.1%

 

30,442,305

 

Liabilities, net of Cash, Receivables and Other Assets – (0.1)%

 

(32,083)

 

Net Assets – 100%

 

$30,410,222

 
      

Summary of Investments by Country - (Long Positions) (unaudited)

 
    

% of

 
    

Investment

 

Country

 

Value

 

Securities

 

United States

 

$19,386,053

 

63.7

%

Japan

 

2,986,437

 

9.8

 

Canada

 

1,691,193

 

5.6

 

France

 

1,604,544

 

5.3

 

United Kingdom

 

1,132,120

 

3.7

 

Netherlands

 

1,127,322

 

3.7

 

Germany

 

939,784

 

3.1

 

Ireland

 

805,644

 

2.6

 

Hong Kong

 

640,012

 

2.1

 

Australia

 

86,115

 

0.3

 

China

 

43,081

 

0.1

 
      
      

Total

 

$30,442,305

 

100.0

%

 

2

Schedules of Affiliated Investments – (% of Net Assets)

           
 

Dividend

Income

Realized

Gain/(Loss)

Change in

Unrealized

Appreciation/

Depreciation

Value

at 6/30/23

Investment Companies - 2.5%

Money Markets - 2.5%

 
 

Janus Henderson Cash Liquidity Fund LLC, 5.1900%ºº

$

22,840

$

91

$

(4)

$

773,243

 
           
 

Value

at 9/30/22

Purchases

Sales Proceeds

Value

at 6/30/23

Investment Companies - 2.5%

Money Markets - 2.5%

 
 

Janus Henderson Cash Liquidity Fund LLC, 5.1900%ºº

 

1,228,278

 

6,165,396

 

(6,620,518)

 

773,243

3

Notes to Schedule of Investments (unaudited)

  

LLC

Limited Liability Company

PLC

Public Limited Company

  

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 1933 Act. Unless otherwise noted, these securities have been determined to be liquid under guidelines established by the Board of Trustees. The total value of 144A securities as of the period ended June 30, 2023 is $43,081, which represents 0.1% of net assets.

  

*

Non-income producing security.

  

ºº

Rate shown is the 7-day yield as of June 30, 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 following is a summary of the inputs that were used to value the Fund’s investments in securities and other financial instruments as of June 30, 2023.

 

Valuation Inputs Summary

       
    

Level 2 -

 

Level 3 -

  

Level 1 -

 

Other Significant

 

Significant

  

Quoted Prices

 

Observable Inputs

 

Unobservable Inputs

       

Assets

      

Investments In Securities:

      

Common Stocks

$

29,669,062

$

-

$

-

Investment Companies

 

-

 

773,243

 

-

Total Assets

$

29,669,062

$

773,243

$

-

       

4

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 nonvalued 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 June 30, 2023 to fair value the Fund’s investments in

5

securities and other financial instruments is included in the “Valuation Inputs Summary” in the Notes to Schedule of Investments.

6

For additional information on the Fund, please refer to the Fund’s most recent semiannual or annual shareholder report.

      
      
      
   

125-35-70235 08-23