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    <isConfidential>false</isConfidential>
    <filerInfo>

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        <issuerCredentials>
          <cik>0000277751</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
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        <classId>C000183894</classId>
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    </filerInfo>
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      <regCik>0000277751</regCik>
      <regLei>W6UYDZFUOFJ4HQQ32382</regLei>
      <regStreet1>151 Detroit Street</regStreet1>
      <regCity>Denver</regCity>
      <regStateConditional regCountry="US" regState="US-CO"/>
      <regZipOrPostalCode>80206</regZipOrPostalCode>
      <regPhone>303-333-3863</regPhone>
      <seriesName>Janus Henderson Global Equity Income Fund</seriesName>
      <seriesId>S000057602</seriesId>
      <seriesLei>549300LMDPEFBD67P863</seriesLei>
      <repPdEnd>2026-09-30</repPdEnd>
      <repPdDate>2026-03-31</repPdDate>
      <isFinalFiling>N</isFinalFiling>
    </genInfo>
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      <totLiabs>61903324.790000010000</totLiabs>
      <netAssets>7279206199.670000000000</netAssets>
      <assetsAttrMiscSec>0.000000000000</assetsAttrMiscSec>
      <assetsInvested>0.000000000000</assetsInvested>
      <amtPayOneYrBanksBorr>0.000000000000</amtPayOneYrBanksBorr>
      <amtPayOneYrCtrldComp>0.000000000000</amtPayOneYrCtrldComp>
      <amtPayOneYrOthAffil>0.000000000000</amtPayOneYrOthAffil>
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      <standByCommit>0.000000000000</standByCommit>
      <liquidPref>0.000000000000</liquidPref>
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      <isNonCashCollateral>N</isNonCashCollateral>
      <returnInfo>
        <monthlyTotReturns>
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      <mon3Flow redemption="160516951.95" reinvestment="0.00" sales="163937601.86"/>



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        <fundsDesignatedInfo>
          <nameDesignatedIndex>85% MSCI ACWI ex-US High Div Yld / 15% MSCI USA High Div Yld Index</nameDesignatedIndex>
          <indexIdentifier>INTRNL-1433447158</indexIdentifier>

        </fundsDesignatedInfo>

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        <name>Deutsche Telekom AG</name>
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        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>DB Insurance Co Ltd.</name>
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          <ticker value="DGBUF"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Danone SA</name>
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          <ticker value="GPDNF"/>
          <other otherDesc="SEDOL" value="B1Y9TB3"/>
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        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Daiichi Life Group Inc.</name>
        <lei>549300ZUFXI7JXZVTZ25</lei>
        <title>Daiichi Life Group Inc. NPV</title>
        <cusip>J09748112</cusip>
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          <ticker value="DCNSF"/>
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        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Origin Energy Ltd.</name>
        <lei>ZSN2LWNPYW6ISMRUC664</lei>
        <title>Origin Energy Ltd. NPV</title>
        <cusip>Q71610101</cusip>
        <identifiers>
          <isin value="AU000000ORG5"/>
          <ticker value="ORG"/>
          <other otherDesc="SEDOL" value="6214861"/>
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        <currencyConditional curCd="AUD" exchangeRt="1.4497"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AU</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

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        <securityLending>
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        <name>OneMain Holdings Inc.</name>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
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        <title>Novartis AG CHF0.49 (REGD)</title>
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        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>Nestle SA</name>
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        <cusip>H57312649</cusip>
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          <other otherDesc="SEDOL" value="7123870"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Sell EUR / Buy USD</title>
        <cusip>N/A</cusip>
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        <units>NC</units>
        <curCd>USD</curCd>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <fwdDeriv derivCat="FWD">
            <counterparties>
              <counterpartyName>BNP Paribas</counterpartyName>
              <counterpartyLei>R0MUWSFPU8MPRO8K5P83</counterpartyLei>
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            <amtCurSold>623066386.92</amtCurSold>
            <curSold>EUR</curSold>
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        <securityLending>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>N/A</name>
        <lei>N/A</lei>
        <title>Sell GBP / Buy USD</title>
        <cusip>N/A</cusip>
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          <other otherDesc="Internal ID" value="FXF110106028"/>
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        <units>NC</units>
        <curCd>USD</curCd>
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        <payoffProfile>N/A</payoffProfile>
        <assetCat>DFE</assetCat>
        <issuerConditional desc="N/A" issuerCat="OTHER"/>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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            <counterparties>
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            <curSold>GBP</curSold>
            <amtCurPur>541146021.04</amtCurPur>
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        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Taylor Wimpey PLC</name>
        <lei>21380089BTRXTD8S3R66</lei>
        <title>Taylor Wimpey PLC ORD GBP0.01</title>
        <cusip>G86954107</cusip>
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          <ticker value="TWODF"/>
          <other otherDesc="SEDOL" value="0878230"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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      </invstOrSec>
      <invstOrSec>
        <name>Telus Corp.</name>
        <lei>894500TX134IMF6NW757</lei>
        <title>Telus Corp. COM NPV</title>
        <cusip>87971M103</cusip>
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          <ticker value="TU"/>
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        <currencyConditional curCd="CAD" exchangeRt="1.3909"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Telia Company AB</name>
        <lei>213800FSR9RNDUOTXO25</lei>
        <title>Telia Company AB NPV</title>
        <cusip>W95890104</cusip>
        <identifiers>
          <isin value="SE0000667925"/>
          <ticker value="TLSNF"/>
          <other otherDesc="SEDOL" value="5978384"/>
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        <currencyConditional curCd="SEK" exchangeRt="9.4615"/>
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        <pctVal>1.0441555795</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isNonCashCollateral>N</isNonCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Tokio Marine Holdings Inc.</name>
        <lei>5299009QN2NZ191KLS29</lei>
        <title>Tokio Marine Holdings Inc. NPV</title>
        <cusip>J86298106</cusip>
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          <isin value="JP3910660004"/>
          <ticker value="8766"/>
          <other otherDesc="SEDOL" value="6513126"/>
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        <currencyConditional curCd="JPY" exchangeRt="158.69"/>
        <valUSD>106303579.57</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Tokyo Electron Ltd.</name>
        <lei>549300H5LSF8DP3RIJ34</lei>
        <title>Tokyo Electron Ltd. NPV</title>
        <cusip>J86957115</cusip>
        <identifiers>
          <isin value="JP3571400005"/>
          <ticker value="TOELF"/>
          <other otherDesc="SEDOL" value="6895675"/>
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        <balance>273900</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.69"/>
        <valUSD>66989153.5</valUSD>
        <pctVal>0.9202810260</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>United Overseas Bank Ltd.</name>
        <lei>IO66REGK3RCBAMA8HR66</lei>
        <title>United Overseas Bank Ltd. NPV</title>
        <cusip>Y9T10P105</cusip>
        <identifiers>
          <isin value="SG1M31001969"/>
          <ticker value="UOVEF"/>
          <other otherDesc="SEDOL" value="6916781"/>
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        <balance>2576000</balance>
        <units>NS</units>
        <currencyConditional curCd="SGD" exchangeRt="1.2854"/>
        <valUSD>74107169.52</valUSD>
        <pctVal>1.0180666337</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SG</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Taiwan Semiconductor Manufacturing Co., Ltd.</name>
        <lei>549300KB6NK5SBD14S87</lei>
        <title>Taiwan Semiconductor Manufacturing Co., Ltd. SPON ADS REP 5 ORD TWD10</title>
        <cusip>874039100</cusip>
        <identifiers>
          <isin value="US8740391003"/>
          <ticker value="TSM"/>
          <other otherDesc="SEDOL" value="2113382"/>
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        <balance>475755</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>160781402.25</valUSD>
        <pctVal>2.2087765869</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="GDR"/>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TotalEnergies SE</name>
        <lei>529900S21EQ1BO4ESM68</lei>
        <title>TotalEnergies SE EUR2.5</title>
        <cusip>F92124100</cusip>
        <identifiers>
          <isin value="FR0000120271"/>
          <ticker value="TTE"/>
          <other otherDesc="SEDOL" value="B15C557"/>
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        <balance>3342705</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.86528"/>
        <valUSD>308601478.28</valUSD>
        <pctVal>4.2394935631</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Tele2 AB (publ)</name>
        <lei>213800EKD193RVI9HL76</lei>
        <title>Tele2 AB (publ) SER'B'NPV</title>
        <cusip>W95878166</cusip>
        <identifiers>
          <isin value="SE0005190238"/>
          <ticker value="TLTZF"/>
          <other otherDesc="SEDOL" value="B97C733"/>
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        <balance>4929184</balance>
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        <currencyConditional curCd="SEK" exchangeRt="9.4615"/>
        <valUSD>101380796.95</valUSD>
        <pctVal>1.3927452276</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Unilever PLC</name>
        <lei>549300MKFYEKVRWML317</lei>
        <title>Unilever PLC ORD GBP0.035</title>
        <cusip>G92087348</cusip>
        <identifiers>
          <isin value="GB00BVZK7T90"/>
          <ticker value="UNLYF"/>
          <other otherDesc="SEDOL" value="BTMR1D1"/>
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        <balance>1920198</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86528"/>
        <valUSD>108201085.94</valUSD>
        <pctVal>1.4864407323</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>UniCredit S.p.A.</name>
        <lei>549300TRUWO2CD2G5692</lei>
        <title>UniCredit S.p.A. NPV</title>
        <cusip>T9T23L642</cusip>
        <identifiers>
          <isin value="IT0005239360"/>
          <ticker value="UNCFF"/>
          <other otherDesc="SEDOL" value="BYMXPS7"/>
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        <balance>1703761</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86528"/>
        <valUSD>122752221.13</valUSD>
        <pctVal>1.6863407597</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Imperial Brands PLC</name>
        <lei>549300DFVPOB67JL3A42</lei>
        <title>Imperial Brands PLC GBP0.10</title>
        <cusip>G4720C107</cusip>
        <identifiers>
          <isin value="GB0004544929"/>
          <ticker value="IMBBF"/>
          <other otherDesc="SEDOL" value="0454492"/>
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        <balance>4031184</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75563"/>
        <valUSD>164042020.95</valUSD>
        <pctVal>2.2535701895</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Legal &amp; General Group PLC</name>
        <lei>213800JH9QQWHLO99821</lei>
        <title>Legal &amp; General Group PLC ORD GBP0.025</title>
        <cusip>G54404127</cusip>
        <identifiers>
          <isin value="GB0005603997"/>
          <ticker value="LGGNF"/>
          <other otherDesc="SEDOL" value="0560399"/>
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        <balance>20534059</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75563"/>
        <valUSD>67667395.79</valUSD>
        <pctVal>0.9295985570</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Freeport-McMoRan Inc.</name>
        <lei>549300IRDTHJQ1PVET45</lei>
        <title>Freeport-McMoRan Inc. COM USD0.10</title>
        <cusip>35671D857</cusip>
        <identifiers>
          <isin value="US35671D8570"/>
          <ticker value="FCX"/>
          <other otherDesc="SEDOL" value="2352118"/>
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        <balance>758884</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>44607201.52</valUSD>
        <pctVal>0.6128031038</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>L'Oreal S.A.</name>
        <lei>529900JI1GG6F7RKVI53</lei>
        <title>L'Oreal S.A. EUR0.20</title>
        <cusip>F58149133</cusip>
        <identifiers>
          <isin value="FR0000120321"/>
          <ticker value="LRLCF"/>
          <other otherDesc="SEDOL" value="4057808"/>
        </identifiers>
        <balance>178322</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86528"/>
        <valUSD>73113917.66</valUSD>
        <pctVal>1.0044215764</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>LVMH Moet Hennessy Louis Vuitton SE</name>
        <lei>IOG4E947OATN0KJYSD45</lei>
        <title>LVMH Moet Hennessy Louis Vuitton SE EUR0.30</title>
        <cusip>F58485115</cusip>
        <identifiers>
          <isin value="FR0000121014"/>
          <ticker value="LVMHF"/>
          <other otherDesc="SEDOL" value="4061412"/>
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        <balance>124869</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86528"/>
        <valUSD>69401022.27</valUSD>
        <pctVal>0.9534147044</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Home Depot Inc.</name>
        <lei>QEKMOTMBBKA8I816DO57</lei>
        <title>Home Depot Inc. COM USD0.05</title>
        <cusip>437076102</cusip>
        <identifiers>
          <isin value="US4370761029"/>
          <ticker value="HD"/>
          <other otherDesc="SEDOL" value="2434209"/>
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        <balance>236689</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>77844645.21</valUSD>
        <pctVal>1.0694111841</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>E.ON SE</name>
        <lei>Q9MAIUP40P25UFBFG033</lei>
        <title>E.ON SE NPV</title>
        <cusip>D24914133</cusip>
        <identifiers>
          <isin value="DE000ENAG999"/>
          <ticker value="ENAKF"/>
          <other otherDesc="SEDOL" value="4942904"/>
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        <balance>3260328</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86528"/>
        <valUSD>71250718.28</valUSD>
        <pctVal>0.9788253874</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Elisa OYJ</name>
        <lei>743700TU2S3DXWGU7H32</lei>
        <title>Elisa OYJ NPV</title>
        <cusip>X1949T102</cusip>
        <identifiers>
          <isin value="FI0009007884"/>
          <ticker value="ELMUF"/>
          <other otherDesc="SEDOL" value="5701513"/>
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        <balance>1608433</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86528"/>
        <valUSD>77976410.1</valUSD>
        <pctVal>1.0712213387</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FI</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>KDDI Corp</name>
        <lei>5299003FU7V4I45FU310</lei>
        <title>KDDI Corp NPV</title>
        <cusip>J31843105</cusip>
        <identifiers>
          <isin value="JP3496400007"/>
          <ticker value="KDDIF"/>
          <other otherDesc="SEDOL" value="6248990"/>
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        <balance>10713400</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.69"/>
        <valUSD>183483288.14</valUSD>
        <pctVal>2.5206496850</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Komatsu Ltd.</name>
        <lei>5493004LQ0B4T7QPQV17</lei>
        <title>Komatsu Ltd. NPV</title>
        <cusip>J35759125</cusip>
        <identifiers>
          <isin value="JP3304200003"/>
          <ticker value="KMTUF"/>
          <other otherDesc="SEDOL" value="6496584"/>
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        <balance>5469000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.69"/>
        <valUSD>214705552.87</valUSD>
        <pctVal>2.9495737170</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Mizuho Financial Group Inc.</name>
        <lei>353800CI5L6DDAN5XZ33</lei>
        <title>Mizuho Financial Group Inc. NPV</title>
        <cusip>J4599L102</cusip>
        <identifiers>
          <isin value="JP3885780001"/>
          <ticker value="MZHOF"/>
          <other otherDesc="SEDOL" value="6591014"/>
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        <balance>1877600</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.69"/>
        <valUSD>74951204.57</valUSD>
        <pctVal>1.0296617861</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Janus Henderson Cash Liquidity Fund LLC</name>
        <lei>N/A</lei>
        <title>Janus Henderson Cash Liquidity Fund LLC</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="895"/>
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        <balance>314458417.5531</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>314458417.55</valUSD>
        <pctVal>4.3199547990</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>PF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Engie SA</name>
        <lei>LAXUQCHT4FH58LRZDY46</lei>
        <title>Engie SA EUR1</title>
        <cusip>F7629A107</cusip>
        <identifiers>
          <isin value="FR0010208488"/>
          <ticker value="ENGI"/>
          <other otherDesc="SEDOL" value="B0C2CQ3"/>
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        <balance>2318587</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86528"/>
        <valUSD>74741665.54</valUSD>
        <pctVal>1.0267831889</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Nordea Bank ABP</name>
        <lei>529900ODI3047E2LIV03</lei>
        <title>Nordea Bank ABP NPV</title>
        <cusip>X5S8VL105</cusip>
        <identifiers>
          <isin value="FI4000297767"/>
          <ticker value="NBNKF"/>
          <other otherDesc="SEDOL" value="BFM0SV9"/>
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        <balance>8065185</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86528"/>
        <valUSD>138804589.34</valUSD>
        <pctVal>1.9068643686</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FI</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Daimler Truck Holding AG</name>
        <lei>529900PW78JIYOUBSR24</lei>
        <title>Daimler Truck Holding AG NPV</title>
        <cusip>D1T3RZ100</cusip>
        <identifiers>
          <isin value="DE000DTR0CK8"/>
          <ticker value="DTGHF"/>
          <other otherDesc="SEDOL" value="BP6VLQ4"/>
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        <balance>1622278</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86528"/>
        <valUSD>77325807.99</valUSD>
        <pctVal>1.0622835220</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Industria De Diseno Textil SA</name>
        <lei>549300TTCXZOGZM2EY83</lei>
        <title>Industria De Diseno Textil SA EUR0.03 (POST SUBD)</title>
        <cusip>E6282J125</cusip>
        <identifiers>
          <isin value="ES0148396007"/>
          <ticker value="IDEXF"/>
          <other otherDesc="SEDOL" value="BP9DL90"/>
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        <balance>2130794</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86528"/>
        <valUSD>122495731.54</valUSD>
        <pctVal>1.6828171669</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Land Securities Group PLC</name>
        <lei>213800V8IAVKS37D6B88</lei>
        <title>Land Securities Group PLC ORD GBP0.106666666</title>
        <cusip>G5375M142</cusip>
        <identifiers>
          <isin value="GB00BYW0PQ60"/>
          <ticker value="LSGOF"/>
          <other otherDesc="SEDOL" value="BYW0PQ6"/>
        </identifiers>
        <balance>10918767</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75563"/>
        <valUSD>81007718.84</valUSD>
        <pctVal>1.1128647358</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Infrastrutture Wireless Italiane SpA</name>
        <lei>81560066183FE361C071</lei>
        <title>Infrastrutture Wireless Italiane SpA NPV</title>
        <cusip>T6032P102</cusip>
        <identifiers>
          <isin value="IT0005090300"/>
          <ticker value="IFSUF"/>
          <other otherDesc="SEDOL" value="BZ0P4R4"/>
        </identifiers>
        <balance>5277620</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86528"/>
        <valUSD>42235305.36</valUSD>
        <pctVal>0.5802185596</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ING Groep N.V.</name>
        <lei>549300NYKK9MWM7GGW15</lei>
        <title>ING Groep N.V. EUR0.01</title>
        <cusip>N4578E595</cusip>
        <identifiers>
          <isin value="NL0011821202"/>
          <ticker value="INGVF"/>
          <other otherDesc="SEDOL" value="BZ57390"/>
        </identifiers>
        <balance>2827465</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86528"/>
        <valUSD>73869746.3</valUSD>
        <pctVal>1.0148049701</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Zurich Insurance Group AG</name>
        <lei>529900QVNRBND50TXP03</lei>
        <title>Zurich Insurance Group AG CHF0.10</title>
        <cusip>H9870Y105</cusip>
        <identifiers>
          <isin value="CH0011075394"/>
          <ticker value="ZFSVF"/>
          <other otherDesc="SEDOL" value="5983816"/>
        </identifiers>
        <balance>240229</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.7994"/>
        <valUSD>171326242.23</valUSD>
        <pctVal>2.3536390855</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Volvo AB</name>
        <lei>549300HGV012CNC8JD22</lei>
        <title>Volvo AB SER'B'NPV</title>
        <cusip>928856301</cusip>
        <identifiers>
          <isin value="SE0000115446"/>
          <ticker value="VOLVF"/>
          <other otherDesc="SEDOL" value="B1QH830"/>
        </identifiers>
        <balance>1512535</balance>
        <units>NS</units>
        <currencyConditional curCd="SEK" exchangeRt="9.4615"/>
        <valUSD>49373126.16</valUSD>
        <pctVal>0.6782762406</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>SE</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Var Energi ASA</name>
        <lei>549300LIVN3FFOJN2K47</lei>
        <title>Var Energi ASA NOK0.16</title>
        <cusip>R9796N109</cusip>
        <identifiers>
          <isin value="NO0011202772"/>
          <ticker value="VREAF"/>
          <other otherDesc="SEDOL" value="BPLF0Y2"/>
        </identifiers>
        <balance>18433678</balance>
        <units>NS</units>
        <currencyConditional curCd="NOK" exchangeRt="9.6762"/>
        <valUSD>94585692.33</valUSD>
        <pctVal>1.2993956997</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NO</invCountry>

        <isRestrictedSec>Y</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>British Land Company PLC</name>
        <lei>RV5B68J2GV3QGMRPW209</lei>
        <title>British Land Company PLC ORD GBP0.25</title>
        <cusip>G15540118</cusip>
        <identifiers>
          <isin value="GB0001367019"/>
          <ticker value="BRLAF"/>
          <other otherDesc="SEDOL" value="0136701"/>
        </identifiers>
        <balance>18487601</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75563"/>
        <valUSD>88380757.67</valUSD>
        <pctVal>1.2141537861</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>British American Tobacco PLC</name>
        <lei>213800FKA5MF17RJKT63</lei>
        <title>British American Tobacco PLC ORD GBP0.25</title>
        <cusip>G1510J102</cusip>
        <identifiers>
          <isin value="GB0002875804"/>
          <ticker value="BTAFF"/>
          <other otherDesc="SEDOL" value="0287580"/>
        </identifiers>
        <balance>3736119</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75563"/>
        <valUSD>217598449.03</valUSD>
        <pctVal>2.9893156350</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Rio Tinto PLC</name>
        <lei>213800YOEO5OQ72G2R82</lei>
        <title>Rio Tinto PLC ORD GBP0.10</title>
        <cusip>G75754104</cusip>
        <identifiers>
          <isin value="GB0007188757"/>
          <ticker value="RTPPF"/>
          <other otherDesc="SEDOL" value="0718875"/>
        </identifiers>
        <balance>1815011</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75563"/>
        <valUSD>168682859.39</valUSD>
        <pctVal>2.3173249220</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BP PLC</name>
        <lei>213800LH1BZH3DI6G760</lei>
        <title>BP PLC ORD USD0.25</title>
        <cusip>G12793108</cusip>
        <identifiers>
          <isin value="GB0007980591"/>
          <ticker value="BPAQF"/>
          <other otherDesc="SEDOL" value="0798059"/>
        </identifiers>
        <balance>15521311</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75563"/>
        <valUSD>122329450.64</valUSD>
        <pctVal>1.6805328395</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Carlsberg A/S</name>
        <lei>5299001O0WJQYB5GYZ19</lei>
        <title>Carlsberg A/S SER'B'DKK20</title>
        <cusip>K36628137</cusip>
        <identifiers>
          <isin value="DK0010181759"/>
          <ticker value="CABJF"/>
          <other otherDesc="SEDOL" value="4169219"/>
        </identifiers>
        <balance>1477872</balance>
        <units>NS</units>
        <currencyConditional curCd="DKK" exchangeRt="6.4643"/>
        <valUSD>184427197.22</valUSD>
        <pctVal>2.5336168830</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Schneider Electric SE</name>
        <lei>969500A1YF1XUYYXS284</lei>
        <title>Schneider Electric SE EUR4.00</title>
        <cusip>F86921107</cusip>
        <identifiers>
          <isin value="FR0000121972"/>
          <ticker value="SBGSF"/>
          <other otherDesc="SEDOL" value="4834108"/>
        </identifiers>
        <balance>443217</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86528"/>
        <valUSD>121722127.08</valUSD>
        <pctVal>1.6721895732</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Banco Bilbao Vizcaya Argentaria SA</name>
        <lei>K8MS7FD7N5Z2WQ51AZ71</lei>
        <title>Banco Bilbao Vizcaya Argentaria SA EUR0.49</title>
        <cusip>E11805103</cusip>
        <identifiers>
          <isin value="ES0113211835"/>
          <ticker value="BBVXF"/>
          <other otherDesc="SEDOL" value="5501906"/>
        </identifiers>
        <balance>7039780</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86528"/>
        <valUSD>153631905.95</valUSD>
        <pctVal>2.1105585106</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sanofi SA</name>
        <lei>549300E9PC51EN656011</lei>
        <title>Sanofi SA EUR2</title>
        <cusip>F5548N101</cusip>
        <identifiers>
          <isin value="FR0000120578"/>
          <ticker value="SNYNF"/>
          <other otherDesc="SEDOL" value="5671735"/>
        </identifiers>
        <balance>1595259</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86528"/>
        <valUSD>153851356.66</valUSD>
        <pctVal>2.1135732721</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Accor SA</name>
        <lei>969500QZC2Q0TK11NV07</lei>
        <title>Accor SA EUR3</title>
        <cusip>F00189120</cusip>
        <identifiers>
          <isin value="FR0000120404"/>
          <ticker value="ACRFF"/>
          <other otherDesc="SEDOL" value="5852842"/>
        </identifiers>
        <balance>1313712</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86528"/>
        <valUSD>62934559.21</valUSD>
        <pctVal>0.8645799759</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Quanta Computer Inc.</name>
        <lei>529900DE8BIV3XOXIK04</lei>
        <title>Quanta Computer Inc. TWD10</title>
        <cusip>Y7174J106</cusip>
        <identifiers>
          <isin value="TW0002382009"/>
          <ticker value="QUCPF"/>
          <other otherDesc="SEDOL" value="6141011"/>
        </identifiers>
        <balance>16816000</balance>
        <units>NS</units>
        <currencyConditional curCd="TWD" exchangeRt="31.965"/>
        <valUSD>148620158.63</valUSD>
        <pctVal>2.0417083203</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>TW</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sumitomo Mitsui Financial Group Inc.</name>
        <lei>35380028MYWPB6AUO129</lei>
        <title>Sumitomo Mitsui Financial Group Inc. NPV</title>
        <cusip>J7771X109</cusip>
        <identifiers>
          <isin value="JP3890350006"/>
          <ticker value="SMFNF"/>
          <other otherDesc="SEDOL" value="6563024"/>
        </identifiers>
        <balance>2148400</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="158.69"/>
        <valUSD>70825788.88</valUSD>
        <pctVal>0.9729878085</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Samsung Electronics Co Ltd.</name>
        <lei>9884007ER46L6N7EI764</lei>
        <title>Samsung Electronics Co Ltd. N/VTG PFD KRW100</title>
        <cusip>Y74718118</cusip>
        <identifiers>
          <isin value="KR7005931001"/>
          <ticker value="SSNNF"/>
          <other otherDesc="SEDOL" value="6773812"/>
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        <balance>2354222</balance>
        <units>NS</units>
        <currencyConditional curCd="KRW" exchangeRt="1531.2"/>
        <valUSD>187501817.46</valUSD>
        <pctVal>2.5758552831</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Swire Pacific Ltd.</name>
        <lei>549300KZOZHII0DGF611</lei>
        <title>Swire Pacific Ltd. 'A' NPV</title>
        <cusip>Y83310105</cusip>
        <identifiers>
          <isin value="HK0019000162"/>
          <ticker value="SWRAF"/>
          <other otherDesc="SEDOL" value="6867748"/>
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        <balance>7555000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.841"/>
        <valUSD>82862439.74</valUSD>
        <pctVal>1.1383444495</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Axa SA</name>
        <lei>F5WCUMTUM4RKZ1MAIE39</lei>
        <title>Axa SA EUR2.29</title>
        <cusip>F06106102</cusip>
        <identifiers>
          <isin value="FR0000120628"/>
          <ticker value="AXAHF"/>
          <other otherDesc="SEDOL" value="7088429"/>
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        <balance>816094</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86528"/>
        <valUSD>37409364.38</valUSD>
        <pctVal>0.5139209325</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Pfizer Inc.</name>
        <lei>765LHXWGK1KXCLTFYQ30</lei>
        <title>Pfizer Inc. COM USD0.05</title>
        <cusip>717081103</cusip>
        <identifiers>
          <isin value="US7170811035"/>
          <ticker value="PFE"/>
          <other otherDesc="SEDOL" value="2684703"/>
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        <balance>2462473</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>69146241.84</valUSD>
        <pctVal>0.9499145916</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Banco de Sabadell SA</name>
        <lei>SI5RG2M0WQQLZCXKRM20</lei>
        <title>Banco de Sabadell SA EUR0.125</title>
        <cusip>E15819191</cusip>
        <identifiers>
          <isin value="ES0113860A34"/>
          <ticker value="BNDSF"/>
          <other otherDesc="SEDOL" value="B1X8QN2"/>
        </identifiers>
        <balance>46708449</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86528"/>
        <valUSD>167908704.5</valUSD>
        <pctVal>2.3066897666</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Relx PLC</name>
        <lei>549300WSX3VBUFFJOO66</lei>
        <title>Relx PLC ORD GBP0.1444</title>
        <cusip>G7493L105</cusip>
        <identifiers>
          <isin value="GB00B2B0DG97"/>
          <ticker value="RLXXF"/>
          <other otherDesc="SEDOL" value="B2B0DG9"/>
        </identifiers>
        <balance>2552470</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75563"/>
        <valUSD>84140114.26</valUSD>
        <pctVal>1.1558968375</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Pembina Pipeline Corporation</name>
        <lei>5493002W3L9YICM6FU21</lei>
        <title>Pembina Pipeline Corporation COM NPV</title>
        <cusip>706327103</cusip>
        <identifiers>
          <isin value="CA7063271034"/>
          <ticker value="PBA"/>
          <other otherDesc="SEDOL" value="B4PT2P8"/>
        </identifiers>
        <balance>202520</balance>
        <units>NS</units>
        <currencyConditional curCd="CAD" exchangeRt="1.3909"/>
        <valUSD>9066734.06</valUSD>
        <pctVal>0.1245566317</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Coloplast AS</name>
        <lei>529900NN7SOJ5QG82X67</lei>
        <title>Coloplast AS SER'B'DKK1</title>
        <cusip>K16018192</cusip>
        <identifiers>
          <isin value="DK0060448595"/>
          <ticker value="CLPBF"/>
          <other otherDesc="SEDOL" value="B8FMRX8"/>
        </identifiers>
        <balance>555111</balance>
        <units>NS</units>
        <currencyConditional curCd="DKK" exchangeRt="6.4643"/>
        <valUSD>37854484.11</valUSD>
        <pctVal>0.5200358813</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Compagnie Financiere Richemont Sa</name>
        <lei>549300YIPGJ6UX2QPS51</lei>
        <title>Compagnie Financiere Richemont Sa CHF1 (REGD)</title>
        <cusip>H25662182</cusip>
        <identifiers>
          <isin value="CH0210483332"/>
          <ticker value="CFRHF"/>
          <other otherDesc="SEDOL" value="BCRWZ18"/>
        </identifiers>
        <balance>376531</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.7994"/>
        <valUSD>67111925.91</valUSD>
        <pctVal>0.9219676441</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Standard Life PLC</name>
        <lei>2138001P49OLAEU33T68</lei>
        <title>Standard Life PLC ORD GBP0.10</title>
        <cusip>G7S8MZ109</cusip>
        <identifiers>
          <isin value="GB00BGXQNP29"/>
          <ticker value="PNXGF"/>
          <other otherDesc="SEDOL" value="BGXQNP2"/>
        </identifiers>
        <balance>9186403</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75563"/>
        <valUSD>83061727.76</valUSD>
        <pctVal>1.1410822208</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Shell PLC</name>
        <lei>21380068P1DRHMJ8KU70</lei>
        <title>Shell PLC ORD EUR0.07</title>
        <cusip>G80827101</cusip>
        <identifiers>
          <isin value="GB00BP6MXD84"/>
          <ticker value="RYDAF"/>
          <other otherDesc="SEDOL" value="BP6MXD8"/>
        </identifiers>
        <balance>4926764</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75563"/>
        <valUSD>230029229.69</valUSD>
        <pctVal>3.1600867372</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Reckitt Benckiser Group PLC</name>
        <lei>5493003JFSMOJG48V108</lei>
        <title>Reckitt Benckiser Group PLC ORD GBP0.1041666666666667</title>
        <cusip>G7S0C8107</cusip>
        <identifiers>
          <isin value="GB00BSZBP530"/>
          <ticker value="RBGPF"/>
          <other otherDesc="SEDOL" value="BSZBP53"/>
        </identifiers>
        <balance>1670175</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75563"/>
        <valUSD>113325289.76</valUSD>
        <pctVal>1.5568358232</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Roche Holding AG</name>
        <lei>549300U41AUUVOAAOB37</lei>
        <title>Roche Holding AG CHF0.001</title>
        <cusip>H69293266</cusip>
        <identifiers>
          <isin value="CH1499059983"/>
          <ticker value="RHHVF"/>
          <other otherDesc="SEDOL" value="BTMJD19"/>
        </identifiers>
        <balance>446063</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.7994"/>
        <valUSD>176179112.42</valUSD>
        <pctVal>2.4203066596</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EP</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Amcor PLC</name>
        <lei>549300GSODGFCDQ3DI89</lei>
        <title>Amcor PLC COM NEW</title>
        <cusip>G0250X149</cusip>
        <identifiers>
          <isin value="JE00BV7DQ550"/>
          <ticker value="AMCR"/>
          <other otherDesc="SEDOL" value="BV7DQ55"/>
        </identifiers>
        <balance>3139429</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>124792302.75</valUSD>
        <pctVal>1.7143669148</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Canada Dollar Cash Balance</name>
        <lei>N/A</lei>
        <title>Canada Dollar Cash Balance</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="CAD Cash"/>
        </identifiers>
        <balance>1683612.31</balance>
        <units>OU</units>
        <descOthUnits>Currency</descOthUnits>
        <currencyConditional curCd="CAD" exchangeRt="1.3909"/>
        <valUSD>1683612.31</valUSD>
        <pctVal>0.0231290647</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="Foreign Currencies" issuerCat="OTHER"/>
        <invCountry>CA</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Euro Member Countries Cash Balance</name>
        <lei>N/A</lei>
        <title>Euro Member Countries Cash Balance</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="EUR Cash"/>
        </identifiers>
        <balance>151.99</balance>
        <units>OU</units>
        <descOthUnits>Currency</descOthUnits>
        <currencyConditional curCd="EUR" exchangeRt="0.86528"/>
        <valUSD>151.99</valUSD>
        <pctVal>0.0000020880</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="Foreign Currencies" issuerCat="OTHER"/>
        <invCountry>XX</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>United Kingdom Pound Cash Balance</name>
        <lei>N/A</lei>
        <title>United Kingdom Pound Cash Balance</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="GBP Cash"/>
        </identifiers>
        <balance>3310190.92</balance>
        <units>OU</units>
        <descOthUnits>Currency</descOthUnits>
        <currencyConditional curCd="GBP" exchangeRt="0.75563"/>
        <valUSD>3310190.92</valUSD>
        <pctVal>0.0454746140</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="Foreign Currencies" issuerCat="OTHER"/>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-05-15</ncom:dateSigned>
      <ncom:nameOfApplicant>JANUS INVESTMENT FUND</ncom:nameOfApplicant>
      <ncom:signature>JESPER NERGAARD</ncom:signature>
      <ncom:signerName>JESPER NERGAARD</ncom:signerName>
      <ncom:title>VP, CFO, TREASURER, AND PRINCIPAL ACCOUNTING OFFICER</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
