NPORT-EX 2 JHI_Sus_Cor_Bond_ETF.htm 7.31 PART F
Janus
Henderson
Sustainable
Corporate
Bond
ETF
Schedule
of
Investments
(unaudited)
July
31,
2023
1
Principal
Amounts
Value
Asset-Backed
Security
-
1.4%
CF
Hippolyta
Issuer
LLC,
1.9800%,
3/15/61
(144A)
(cost
$421,083)
$
510,807
$
411,625
Corporate
Bonds
-
95.3%
Basic
Materials
-
1.3%
Ecolab,
Inc.,
2.7000%, 11/1/26
410,000
386,194
Communications
-
2.3%
AT&T,
Inc.,
3.5000%, 6/1/41
290,000
215,926
Comcast
Corp.,
4.1500%, 10/15/28
87,000
84,180
Discovery
Communications
LLC,
4.0000%, 9/15/55
236,000
156,437
FactSet
Research
Systems,
Inc.,
3.4500%, 3/1/32
132,000
113,369
T-Mobile
USA,
Inc.,
3.5000%, 4/15/25
158,000
152,661
722,573
Consumer,
Cyclical
-
3.6%
Hasbro,
Inc.,
5.1000%, 5/15/44
122,000
107,613
Home
Depot,
Inc.
(The),
2.8750%, 4/15/27
27,000
25,355
Home
Depot,
Inc.
(The),
3.2500%, 4/15/32
46,000
41,226
LKQ
Corp.,
5.7500%, 6/15/28
(144A)
99,000
98,460
Lowe's
Cos.,
Inc.,
3.7500%, 4/1/32
34,000
30,830
Lowe's
Cos.,
Inc.,
3.7000%, 4/15/46
260,000
200,142
Target
Corp.,
4.8000%, 1/15/53
201,000
190,969
Tractor
Supply
Co.,
5.2500%, 5/15/33
231,000
228,383
Whirlpool
Corp.,
4.6000%, 5/15/50
213,000
179,279
1,102,257
Consumer,
Non-cyclical
-
26.9%
Abbott
Laboratories,
6.1500%, 11/30/37
93,000
103,867
AbbVie,
Inc.,
2.9500%, 11/21/26
114,000
106,942
AbbVie,
Inc.,
3.2000%, 11/21/29
113,000
102,357
AbbVie,
Inc.,
4.5500%, 3/15/35
158,000
150,463
AbbVie,
Inc.,
4.2500%, 11/21/49
120,000
102,946
Alcon
Finance
Corp.,
5.3750%, 12/6/32
(144A)
200,000
202,109
Alcon
Finance
Corp.,
5.7500%, 12/6/52
(144A)
140,000
146,511
Amgen,
Inc.,
2.3000%, 2/25/31
100,000
82,955
Amgen,
Inc.,
5.2500%, 3/2/33
65,000
64,872
Amgen,
Inc.,
5.1500%, 11/15/41
110,000
105,098
Amgen,
Inc.,
5.6000%, 3/2/43
77,000
76,574
Amgen,
Inc.,
5.6500%, 3/2/53
38,000
38,115
Amgen,
Inc.,
2.7700%, 9/1/53
151,000
92,776
Boston
Scientific
Corp.,
2.6500%, 6/1/30
150,000
129,959
Bristol-Myers
Squibb
Co.,
4.5500%, 2/20/48
183,000
166,698
Centene
Corp.,
2.6250%, 8/1/31
162,000
129,537
Cigna
Group
(The),
2.3750%, 3/15/31
141,000
117,253
Cigna
Group
(The),
3.4000%, 3/15/50
297,000
214,983
Coca-Cola
Co.
(The),
2.8750%, 5/5/41
200,000
155,327
CSL
Finance
plc,
3.8500%, 4/27/27
(144A)
45,000
43,013
CSL
Finance
plc,
4.2500%, 4/27/32
(144A)
112,000
106,066
CSL
Finance
plc,
4.6250%, 4/27/42
(144A)
210,000
192,723
CVS
Health
Corp.,
5.0500%, 3/25/48
150,000
136,817
Elevance
Health,
Inc.,
1.5000%, 3/15/26
80,000
72,549
Elevance
Health,
Inc.,
2.5500%, 3/15/31
140,000
117,615
Elevance
Health,
Inc.,
5.5000%, 10/15/32
145,000
148,670
Elevance
Health,
Inc.,
3.6000%, 3/15/51
90,000
68,827
Elevance
Health,
Inc.,
6.1000%, 10/15/52
100,000
108,852
GE
HealthCare
Technologies,
Inc.,
5.6500%, 11/15/27
101,000
102,970
GE
HealthCare
Technologies,
Inc.,
5.8570%, 3/15/30
101,000
103,642
GE
HealthCare
Technologies,
Inc.,
6.3770%, 11/22/52
101,000
111,823
Janus
Henderson
Sustainable
Corporate
Bond
ETF
Schedule
of
Investments
(unaudited)
July
31,
2023
2
Principal
Amounts
Value
Corporate
Bonds
-
(continued)
Consumer,
Non-cyclical
-
(continued)
General
Mills,
Inc.,
2.2500%, 10/14/31
$
206,000
$
168,151
Haleon
US
Capital
LLC,
3.3750%, 3/24/29
250,000
229,204
HCA,
Inc.,
5.2500%, 6/15/26
87,000
86,215
HCA,
Inc.,
5.2000%, 6/1/28
48,000
47,604
HCA,
Inc.,
3.5000%, 9/1/30
172,000
151,188
HCA,
Inc.,
5.5000%, 6/1/33
154,000
153,315
Humana,
Inc.,
3.1250%, 8/15/29
95,000
84,667
Humana,
Inc.,
3.9500%, 8/15/49
180,000
143,265
Illumina,
Inc.,
5.7500%, 12/13/27
94,000
94,296
Illumina,
Inc.,
2.5500%, 3/23/31
162,000
132,041
JBS
USA
LUX
SA,
3.6250%, 1/15/32
(144A)
200,000
165,650
Kenvue,
Inc.,
4.9000%, 3/22/33
(144A)
105,000
105,700
Laboratory
Corp.
of
America
Holdings,
2.7000%, 6/1/31
201,000
168,996
Medtronic,
Inc.,
4.0000%, 4/1/43
71,000
60,976
Moody's
Corp.,
4.2500%, 8/8/32
320,000
303,921
Novartis
Capital
Corp.,
2.2000%, 8/14/30
106,000
91,105
Novartis
Capital
Corp.,
2.7500%, 8/14/50
139,000
98,836
PayPal
Holdings,
Inc.,
2.6500%, 10/1/26
194,000
180,653
PepsiCo,
Inc.,
3.9000%, 7/18/32
160,000
153,701
Pfizer
Investment
Enterprises
Pte.
Ltd.,
4.4500%, 5/19/28
107,000
105,194
Pfizer
Investment
Enterprises
Pte.
Ltd.,
4.7500%, 5/19/33
55,000
54,636
Pfizer
Investment
Enterprises
Pte.
Ltd.,
5.3000%, 5/19/53
139,000
142,827
Pilgrim's
Pride
Corp.,
5.8750%, 9/30/27
(144A)
194,000
191,886
Pilgrim's
Pride
Corp.,
4.2500%, 4/15/31
295,000
255,174
Royalty
Pharma
plc,
3.5500%, 9/2/50
205,000
137,856
S&P
Global,
Inc.,
3.7000%, 3/1/52
83,000
66,874
S&P
Global,
Inc.,
2.3000%, 8/15/60
181,000
102,389
UnitedHealth
Group,
Inc.,
3.7000%, 5/15/27
79,000
76,310
UnitedHealth
Group,
Inc.,
4.2000%, 5/15/32
79,000
75,291
UnitedHealth
Group,
Inc.,
5.3500%, 2/15/33
293,000
303,540
UnitedHealth
Group,
Inc.,
4.7500%, 5/15/52
79,000
74,407
Verisk
Analytics,
Inc.,
3.6250%, 5/15/50
248,000
180,330
Zoetis,
Inc.,
5.6000%, 11/16/32
248,000
258,984
8,248,091
Energy
-
4.0%
Cheniere
Corpus
Christi
Holdings
LLC,
3.7000%, 11/15/29
23,000
20,987
Enbridge,
Inc.,
5.7000%, 3/8/33
95,000
96,303
Enbridge,
Inc.,
2.5000%, 8/1/33
193,000
151,329
Kinder
Morgan,
Inc.,
5.2000%, 6/1/33
194,000
189,457
Sabine
Pass
Liquefaction
LLC,
5.8750%, 6/30/26
303,000
305,079
Venture
Global
Calcasieu
Pass
LLC,
6.2500%, 1/15/30
(144A)
199,000
194,587
Western
Midstream
Operating
LP,
6.1500%, 4/1/33
254,000
257,614
1,215,356
Financial
-
36.0%
AerCap
Ireland
Capital
DAC,
1.7500%, 1/30/26
310,000
280,064
Alexandria
Real
Estate
Equities,
Inc.,
2.9500%, 3/15/34
197,000
157,577
Alexandria
Real
Estate
Equities,
Inc.,
4.7500%, 4/15/35
99,000
92,357
American
Express
Co.,
SOFR
+
1.8350%,
5.0430%, 5/1/34
‡
73,000
71,598
American
Tower
Corp.,
2.4000%, 3/15/25
79,000
74,878
Aon
Corp.,
5.0000%, 9/12/32
467,000
461,197
Athene
Global
Funding,
1.0000%, 4/16/24
(144A)
485,000
467,736
Bank
of
America
Corp.,
SOFR
+
1.0600%,
2.0870%, 6/14/29
‡
145,000
124,407
Bank
of
America
Corp.,
SOFR
+
1.2200%,
2.2990%, 7/21/32
‡
191,000
152,783
Bank
of
America
Corp.,
SOFR
+
1.2100%,
2.5720%, 10/20/32
‡
203,000
164,752
Janus
Henderson
Sustainable
Corporate
Bond
ETF
Schedule
of
Investments
(unaudited)
July
31,
2023
3
Principal
Amounts
Value
Corporate
Bonds
-
(continued)
Financial
-
(continued)
Bank
of
America
Corp.,
SOFR
+
1.9300%,
2.6760%, 6/19/41
‡
$
218,000
$
154,397
Bank
of
New
York
Mellon
Corp.
(The),
SOFR
+
1.3450%,
4.4140%, 7/24/26
‡
314,000
308,067
Bank
of
New
York
Mellon
Corp.
(The),
SOFR
+
1.5118%,
4.7060%, 2/1/34
‡
145,000
138,292
Bank
of
New
York
Mellon
Corp.
(The),
SOFR
+
1.6060%,
4.9670%, 4/26/34
‡
123,000
119,759
Berkshire
Hathaway
Finance
Corp.,
3.8500%, 3/15/52
98,000
80,212
Boston
Properties
LP,
4.5000%, 12/1/28
85,000
78,781
Boston
Properties
LP,
2.4500%, 10/1/33
170,000
122,938
Brown
&
Brown,
Inc.,
4.9500%, 3/17/52
95,000
81,198
Capital
One
Financial
Corp.,
SOFR
+
2.6400%,
6.3120%, 6/8/29
‡
28,000
28,106
CBRE
Services,
Inc.,
5.9500%, 8/15/34
306,000
308,237
Charles
Schwab
Corp.
(The),
3.2000%, 3/2/27
92,000
85,705
Citigroup,
Inc.,
SOFR
+
2.1070%,
2.5720%, 6/3/31
‡
202,000
168,577
Citigroup,
Inc.,
SOFR
+
1.3510%,
3.0570%, 1/25/33
‡
71,000
59,281
Citigroup,
Inc.,
CME
Term
SOFR
3
Month
+
1.4296%,
3.8780%, 1/24/39
‡
87,000
72,819
CME
Group,
Inc.,
3.7500%, 6/15/28
272,000
262,334
Corebridge
Financial,
Inc.,
3.8500%, 4/5/29
34,000
31,168
Credit
Agricole
SA,
5.3010%, 7/12/28
(144A)
250,000
249,839
Digital
Realty
Trust
LP,
4.4500%, 7/15/28
124,000
117,768
Equinix,
Inc.,
2.6250%, 11/18/24
160,000
153,733
Equinix,
Inc.,
1.5500%, 3/15/28
105,000
88,436
Equinix,
Inc.,
3.4000%, 2/15/52
138,000
95,608
Fifth
Third
Bancorp,
SOFR
+
2.3400%,
6.3390%, 7/27/29
‡
94,000
95,710
Goldman
Sachs
Group,
Inc.
(The),
6.2500%, 2/1/41
126,000
135,194
JPMorgan
Chase
&
Co.,
SOFR
+
1.8900%,
2.1820%, 6/1/28
‡
381,000
339,110
JPMorgan
Chase
&
Co.,
SOFR
+
1.4500%,
5.2990%, 7/24/29
‡
91,000
91,211
JPMorgan
Chase
&
Co.,
CME
Term
SOFR
3
Month
+
2.5150%,
2.9560%, 5/13/31
‡
167,000
143,473
JPMorgan
Chase
&
Co.,
SOFR
+
1.2600%,
2.9630%, 1/25/33
‡
231,000
194,922
JPMorgan
Chase
&
Co.,
SOFR
+
1.8450%,
5.3500%, 6/1/34
‡
75,000
75,539
Lloyds
Banking
Group
plc,
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
1.6000%,
3.5110%, 3/18/26
‡
320,000
306,832
Lloyds
Banking
Group
plc,
4.6500%, 3/24/26
200,000
192,798
Mastercard,
Inc.,
3.5000%, 2/26/28
89,000
84,986
Metropolitan
Life
Global
Funding
I,
5.1500%, 3/28/33
(144A)
383,000
380,090
Mitsubishi
UFJ
Financial
Group,
Inc.,
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
1
Year
+
1.7000%,
4.7880%, 7/18/25
‡
234,000
231,340
Morgan
Stanley,
CME
Term
SOFR
3
Month
+
1.4016%,
3.7720%, 1/24/29
‡
19,000
17,782
Morgan
Stanley,
SOFR
+
1.7300%,
5.1230%, 2/1/29
‡
47,000
46,521
Morgan
Stanley,
SOFR
+
1.6300%,
5.4490%, 7/20/29
‡
108,000
108,228
Morgan
Stanley,
SOFR
+
1.2900%,
2.9430%, 1/21/33
‡
166,000
138,154
Morgan
Stanley,
SOFR
+
1.8700%,
5.2500%, 4/21/34
‡
57,000
56,267
Morgan
Stanley,
SOFR
+
1.8800%,
5.4240%, 7/21/34
‡
231,000
230,818
Morgan
Stanley,
US
Treasury
Yield
Curve
Rate
T
Note
Constant
Maturity
5
Year
+
2.4300%,
5.9480%, 1/19/38
‡
27,000
26,859
Nasdaq,
Inc.,
5.3500%, 6/28/28
31,000
31,053
Nasdaq,
Inc.,
1.6500%, 1/15/31
222,000
174,043
Nasdaq,
Inc.,
5.5500%, 2/15/34
103,000
103,926
Nasdaq,
Inc.,
5.9500%, 8/15/53
70,000
71,418
Nasdaq,
Inc.,
6.1000%, 6/28/63
30,000
30,293
National
Australia
Bank
Ltd.,
2.9900%, 5/21/31
(144A)
299,000
238,813
Nordea
Bank
Abp,
5.3750%, 9/22/27
(144A)
200,000
198,094
PNC
Financial
Services
Group,
Inc.
(The),
SOFR
+
1.8410%,
5.5820%, 6/12/29
‡
106,000
106,216
PNC
Financial
Services
Group,
Inc.
(The),
2.5500%, 1/22/30
98,000
82,728
Janus
Henderson
Sustainable
Corporate
Bond
ETF
Schedule
of
Investments
(unaudited)
July
31,
2023
4
Principal
Amounts
Value
Corporate
Bonds
-
(continued)
Financial
-
(continued)
PNC
Financial
Services
Group,
Inc.
(The),
SOFRINDX
+
2.1400%,
6.0370%, 10/28/33
‡
$
233,000
$
239,541
PNC
Financial
Services
Group,
Inc.
(The),
SOFR
+
1.9330%,
5.0680%, 1/24/34
‡
195,000
188,133
Raymond
James
Financial,
Inc.,
3.7500%, 4/1/51
182,000
136,682
State
Street
Corp.,
SOFR
+
0.6040%,
4.8570%, 1/26/26
‡
488,000
481,700
Sun
Communities
Operating
LP,
2.7000%, 7/15/31
266,000
211,812
Sun
Communities
Operating
LP,
5.7000%, 1/15/33
92,000
90,427
Toronto-Dominion
Bank
(The),
5.5230%, 7/17/28
138,000
139,425
US
Bancorp,
2.4000%, 7/30/24
319,000
309,001
US
Bancorp,
SOFR
+
1.6000%,
4.8390%, 2/1/34
‡
72,000
67,621
US
Bancorp,
SOFR
+
2.2600%,
5.8360%, 6/12/34
‡
169,000
171,362
Visa,
Inc.,
2.0000%, 8/15/50
92,000
55,734
Willis
North
America,
Inc.,
5.3500%, 5/15/33
153,000
149,030
11,025,490
Industrial
-
5.8%
Ball
Corp.,
4.0000%, 11/15/23
299,000
296,010
Canadian
Pacific
Railway
Co.,
1.7500%, 12/2/26
207,000
186,417
FedEx
Corp.,
3.2500%, 5/15/41
200,000
149,744
Johnson
Controls
International
plc,
1.7500%, 9/15/30
323,000
260,959
Otis
Worldwide
Corp.,
2.0560%, 4/5/25
201,000
190,000
Otis
Worldwide
Corp.,
2.5650%, 2/15/30
2,000
1,723
Regal
Rexnord
Corp.,
6.3000%, 2/15/30
(144A)
32,000
31,948
Regal
Rexnord
Corp.,
6.4000%, 4/15/33
(144A)
199,000
198,472
Trane
Technologies
Financing
Ltd.,
5.2500%, 3/3/33
71,000
71,567
Trimble,
Inc.,
6.1000%, 3/15/33
119,000
120,889
Waste
Management,
Inc.,
2.5000%, 11/15/50
96,000
60,604
Xylem,
Inc.,
1.9500%, 1/30/28
125,000
109,952
Xylem,
Inc.,
4.3750%, 11/1/46
121,000
100,747
1,779,032
Technology
-
10.5%
Apple,
Inc.,
2.7000%, 8/5/51
254,000
175,543
Apple,
Inc.,
2.8500%, 8/5/61
226,000
151,389
Autodesk,
Inc.,
2.8500%, 1/15/30
96,000
84,032
Broadcom
Corp.,
3.8750%, 1/15/27
92,000
87,714
Broadcom,
Inc.,
3.1870%, 11/15/36
(144A)
144,000
108,885
Broadcom,
Inc.,
4.9260%, 5/15/37
(144A)
222,000
201,716
Fiserv,
Inc.,
2.7500%, 7/1/24
156,000
151,612
Foundry
JV
Holdco
LLC,
5.8750%, 1/25/34
(144A)
307,000
303,924
Hewlett
Packard
Enterprise
Co.,
5.9000%, 10/1/24
450,000
450,386
Micron
Technology,
Inc.,
3.3660%, 11/1/41
333,000
235,195
NXP
BV,
2.7000%, 5/1/25
138,000
131,293
Oracle
Corp.,
4.6500%, 5/6/30
157,000
151,960
Oracle
Corp.,
2.8750%, 3/25/31
38,000
32,309
Oracle
Corp.,
5.5500%, 2/6/53
39,000
37,398
Oracle
Corp.,
4.1000%, 3/25/61
202,000
148,032
QUALCOMM,
Inc.,
6.0000%, 5/20/53
200,000
222,405
Salesforce,
Inc.,
2.9000%, 7/15/51
161,000
111,206
Salesforce,
Inc.,
3.0500%, 7/15/61
98,000
65,456
Take-Two
Interactive
Software,
Inc.,
3.3000%, 3/28/24
13,000
12,772
VMware,
Inc.,
4.5000%, 5/15/25
167,000
163,566
VMware,
Inc.,
4.7000%, 5/15/30
84,000
79,746
Workday,
Inc.,
3.5000%, 4/1/27
37,000
35,149
Workday,
Inc.,
3.7000%, 4/1/29
28,000
26,135
Janus
Henderson
Sustainable
Corporate
Bond
ETF
Schedule
of
Investments
(unaudited)
July
31,
2023
5
Principal
Amounts
Value
Corporate
Bonds
-
(continued)
Technology
-
(continued)
Workday,
Inc.,
3.8000%, 4/1/32
$
43,000
$
38,616
3,206,439
Utilities
-
4.9%
American
Water
Capital
Corp.,
3.8500%, 3/1/24
618,000
611,160
American
Water
Capital
Corp.,
2.3000%, 6/1/31
8,000
6,641
American
Water
Capital
Corp.,
3.2500%, 6/1/51
135,000
96,513
Duke
Energy
Progress
LLC,
5.2500%, 3/15/33
156,000
158,080
Duke
Energy
Progress
LLC,
5.3500%, 3/15/53
114,000
114,130
Southern
California
Edison
Co.,
5.3000%, 3/1/28
425,000
427,755
Xcel
Energy,
Inc.,
4.6000%, 6/1/32
85,000
80,411
1,494,690
Total
Corporate
Bonds
(cost
$31,922,699)
29,180,122
Foreign
Government
Bonds
-
1.7%
Electricite
de
France
SA,
5.7000%, 5/23/28
(144A)
200,000
201,400
Electricite
de
France
SA,
6.9000%, 5/23/53
(144A)
307,000
323,413
Total
Foreign
Government
Bonds
(cost
$504,636)
524,813
Total
Investments
(total
cost
$32,848,418
)
-
98.4%
30,116,560
Cash,
Receivables
and
Other
Assets,
net
of
Liabilities
-
1.6%
493,606
Net
Assets
-
100.0%
$30,610,166
Summary
of
Investments
by
Country
-
(Long
Positions)
(unaudited)
Country
Value
%
of
Investment
Securities
United
States
$
26,473,174
87.9
%
United
Kingdom
841,432
2.8
France
774,652
2.6
Canada
573,474
1.9
Ireland
351,631
1.2
Singapore
302,657
1.0
Australia
238,813
0.8
Japan
231,340
0.8
Finland
198,094
0.6
Netherlands
131,293
0.4
Total
$
30,116,560
100.0
%
Janus
Henderson
Sustainable
Corporate
Bond
ETF
Schedule
of
Investments
(unaudited)
July
31,
2023
6
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
-
N/A
Money
Market
Funds
-
N/A
Janus
Henderson
Cash
Liquidity
Fund
LLC,
5.2625%
∞
$
23,892
$
104
$
(63)
$
–
Market
Value
at
10/31/22
Purchases
Sales
Market
Value
at
7/31/23
Investment
Company
-
N/A
Money
Market
Funds
-
N/A
Janus
Henderson
Cash
Liquidity
Fund
LLC,
5.2625%
∞
$
1,125,433
$
26,752,810
$
(27,878,284)
$
–
Schedule
of
Futures
Contracts
Description
Number
of
Contracts
Expiration
Date
Notional
Amount
Value
and
Unrealized
Appreciation
(Depreciation)
Futures
Long:
U.S.
Treasury
10
Year
Notes
7
9/20/23
$
779,844
$
(20,949)
U.S.
Treasury
2
Year
Notes
13
9/29/23
2,639,406
(31,728)
U.S.
Treasury
5
Year
Notes
13
9/29/23
1,388,664
(23,607)
U.S.
Treasury
Long
Bonds
29
9/20/23
3,608,688
(75,287)
Total
-
Futures
Long
(151,571)
Futures
Short:
U.S.
Treasury
10
Year
Ultra
Bonds
50
9/20/23
(5,849,219)
124,408
Total
-
Futures
Short
124,408
Total
$(27,163)
Average
Ending
Monthly
Value
of
Derivative
Instruments
During
the
Period
Ended
July
31,
2023
Futures
contracts:
Average
notional
amount
of
contracts
-
long
$8,936,398
Average
notional
amount
of
contracts
-
short
6,628,670
Credit
default
swaps:
Average
notional
amount
-
buy
protection
61,111
Average
notional
amount
-
sell
protection
216,667
Janus
Henderson
Sustainable
Corporate
Bond
ETF
Notes
to
Schedule
of
Investments
and
Other
Information
(unaudited)
July
31,
2023
7
LLC
Limited
Liability
Company
LP
Limited
Partnership
plc
Public
Limited
Company
SOFR
Secured
Overnight
Financing
Rate
SOFRINDX
Secured
Overnight
Financing
Rate
Compounded
Index
∞
Rate
shown
is
the
7-day
yield
as
of
July
31,
2023.
‡
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
$4,762,660
which
represents
15.6%
of
net
assets.
Janus
Henderson
Sustainable
Corporate
Bond
ETF
Notes
to
Schedule
of
Investments
and
Other
Information
(unaudited)
July
31,
2023
8
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:
Asset-Backed
Security
$
—
$
411,625
$
—
Corporate
Bonds
—
29,180,122
—
Foreign
Government
Bonds
—
524,813
—
Total
Investments
in
Securities
$
—
$
30,116,560
$
—
Other
Financial
Instruments
(a)
:
Futures
Contracts
$
124,408
$
—
$
—
Total
Assets
$
124,408
$
30,116,560
$
—
Liabilities
Other
Financial
Instruments
(a)
:
Futures
Contracts
$
151,571
$
—
$
—
Total
Liabilities
$
151,571
$
—
$
—
(a)
Other
financial
instruments
include
futures
contracts.
Futures
contracts
are
reported
at
their
unrealized
appreciation/(depreciation)
at
measurement
date,
which
represents
the
change
in
the
contract’s
value
from
trade
date.
9
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.
10
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.
125-35-70443
09-23