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value="Sedol"/></identifiers><balance>679715</balance><units>NS</units><curCd>USD</curCd><valUSD>28153795</valUSD><pctVal>1.142</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>Camden Property Trust</name><lei>5493002MYX22OHYJBD89</lei><title>Camden Property Trust</title><cusip>133131102</cusip><identifiers><isin value="US1331311027"/><ticker value="CPT US"/><other otherDesc="2166320" 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value="Sedol"/></identifiers><balance>243022</balance><units>NS</units><curCd>USD</curCd><valUSD>36336649</valUSD><pctVal>1.474</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>Cedar Fair LP</name><lei>549300TUVLNQQ6BVKH61</lei><title>Cedar Fair LP</title><cusip>150185106</cusip><identifiers><isin value="US1501851067"/><ticker value="FUN US"/><other otherDesc="2181453" value="Sedol"/></identifiers><balance>428751</balance><units>NS</units><curCd>USD</curCd><valUSD>11790652</valUSD><pctVal>0.478</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>Cerner Corp</name><lei>549300L4UJ40IEVVI304</lei><title>Cerner Corp</title><cusip>156782104</cusip><identifiers><isin value="US1567821046"/><ticker value="CERN US"/><other otherDesc="2185284" value="Sedol"/></identifiers><balance>289943</balance><units>NS</units><curCd>USD</curCd><valUSD>19875593</valUSD><pctVal>0.806</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>Citizens Financial Group Inc</name><lei>2138004JDDA4ZQUPFW65</lei><title>Citizens Financial Group Inc</title><cusip>174610105</cusip><identifiers><isin value="US1746101054"/><ticker value="CFG US"/><other otherDesc="BQRX1X3" value="Sedol"/></identifiers><balance>2061252</balance><units>NS</units><curCd>USD</curCd><valUSD>52026000</valUSD><pctVal>2.111</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>Citrix Systems Inc</name><lei>HCTKJGUQOPZ5NBK7NP58</lei><title>Citrix Systems Inc</title><cusip>177376100</cusip><identifiers><isin value="US1773761002"/><ticker value="CTXS US"/><other otherDesc="2182553" value="Sedol"/></identifiers><balance>181668</balance><units>NS</units><curCd>USD</curCd><valUSD>26870514</valUSD><pctVal>1.09</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>Columbia Sportswear Co</name><lei>549300OTMCIEUXAH5Z60</lei><title>Columbia Sportswear Co</title><cusip>198516106</cusip><identifiers><isin value="US1985161066"/><ticker value="COLM US"/><other otherDesc="2229126" value="Sedol"/></identifiers><balance>21652</balance><units>NS</units><curCd>USD</curCd><valUSD>1744718</valUSD><pctVal>0.071</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>Corteva Inc</name><lei>549300WZN9I2QKLS0O94</lei><title>Corteva Inc</title><cusip>22052L104</cusip><identifiers><isin value="US22052L1044"/><ticker value="CTVA US"/><other otherDesc="BK73B42" value="Sedol"/></identifiers><balance>872173</balance><units>NS</units><curCd>USD</curCd><valUSD>23365515</valUSD><pctVal>0.948</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>Discover Financial Services</name><lei>Z1YLO2USPORE63VVUL20</lei><title>Discover Financial Services</title><cusip>254709108</cusip><identifiers><isin value="US2547091080"/><ticker value="DFS US"/><other otherDesc="B1YLC43" value="Sedol"/></identifiers><balance>650025</balance><units>NS</units><curCd>USD</curCd><valUSD>32559752</valUSD><pctVal>1.321</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>Electronic Arts Inc</name><lei>549300O7A67PUEYKDL45</lei><title>Electronic Arts Inc</title><cusip>285512109</cusip><identifiers><isin value="US2855121099"/><ticker value="EA US"/><other otherDesc="2310194" value="Sedol"/></identifiers><balance>390218</balance><units>NS</units><curCd>USD</curCd><valUSD>51528287</valUSD><pctVal>2.091</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>Entergy Corp</name><lei>4XM3TW50JULSLG8BNC79</lei><title>Entergy Corp</title><cusip>29364G103</cusip><identifiers><isin value="US29364G1031"/><ticker value="ETR US"/><other otherDesc="2317087" value="Sedol"/></identifiers><balance>535133</balance><units>NS</units><curCd>USD</curCd><valUSD>50200827</valUSD><pctVal>2.037</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>Equity Commonwealth</name><lei>549300YPGVU9PR4L0606</lei><title>Equity Commonwealth</title><cusip>294628102</cusip><identifiers><isin value="US2946281027"/><ticker value="EQC US"/><other otherDesc="BPH3N63" value="Sedol"/></identifiers><balance>1851855</balance><units>NS</units><curCd>USD</curCd><valUSD>59629731</valUSD><pctVal>2.42</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>Equity LifeStyle Properties In</name><lei>529900PEQG66LENB6798</lei><title>Equity LifeStyle Properties Inc</title><cusip>29472R108</cusip><identifiers><isin value="US29472R1086"/><ticker value="ELS US"/><other otherDesc="2563125" value="Sedol"/></identifiers><balance>1311143</balance><units>NS</units><curCd>USD</curCd><valUSD>81920215</valUSD><pctVal>3.324</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>Evergy Inc</name><lei>549300PGTHDQY6PSUI61</lei><title>Evergy Inc</title><cusip>30034W106</cusip><identifiers><isin value="US30034W1062"/><ticker value="EVRG US"/><other otherDesc="BFMXGR0" value="Sedol"/></identifiers><balance>1207049</balance><units>NS</units><curCd>USD</curCd><valUSD>71565935</valUSD><pctVal>2.904</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>F5 Networks Inc</name><lei>N/A</lei><title>F5 Networks Inc</title><cusip>315616102</cusip><identifiers><isin value="US3156161024"/><ticker value="FFIV US"/><other otherDesc="2427599" value="Sedol"/></identifiers><balance>402894</balance><units>NS</units><curCd>USD</curCd><valUSD>56195655</valUSD><pctVal>2.28</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>First Horizon National Corp</name><lei>TF3RXI1ZB1TQ30H9JV10</lei><title>First Horizon National Corp</title><cusip>320517105</cusip><identifiers><isin value="US3205171057"/><ticker value="FHN US"/><other otherDesc="2341484" value="Sedol"/></identifiers><balance>3247294</balance><units>NS</units><curCd>USD</curCd><valUSD>32343048</valUSD><pctVal>1.312</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>Fox Corp</name><lei>549300DDU6FDRBIELS05</lei><title>Fox Corp - Class B</title><cusip>35137L204</cusip><identifiers><isin value="US35137L2043"/><ticker value="FOX US"/><other otherDesc="BJJMGY5" value="Sedol"/></identifiers><balance>2230446</balance><units>NS</units><curCd>USD</curCd><valUSD>59865171</valUSD><pctVal>2.429</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>GATX Corp</name><lei>549300IHYHCQP2PIR591</lei><title>GATX Corp</title><cusip>361448103</cusip><identifiers><isin value="US3614481030"/><ticker value="GATX US"/><other otherDesc="2362128" value="Sedol"/></identifiers><balance>781429</balance><units>NS</units><curCd>USD</curCd><valUSD>47651540</valUSD><pctVal>1.934</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>Global Payments Inc</name><lei>549300NOMHGVQBX6S778</lei><title>Global Payments Inc</title><cusip>37940X102</cusip><identifiers><isin value="US37940X1028"/><ticker value="GPN US"/><other otherDesc="2712013" value="Sedol"/></identifiers><balance>117066</balance><units>NS</units><curCd>USD</curCd><valUSD>19856735</valUSD><pctVal>0.806</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>Globe Life Inc</name><lei>5493001JFHKQOPP6XA71</lei><title>Globe Life Inc</title><cusip>37959E102</cusip><identifiers><isin value="US37959E1029"/><ticker value="GL US"/><other otherDesc="BK6YKG1" value="Sedol"/></identifiers><balance>968090</balance><units>NS</units><curCd>USD</curCd><valUSD>71861321</valUSD><pctVal>2.916</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>W R Grace &amp; Co</name><lei>5493003X5Z6TVAXIPW56</lei><title>WR Grace &amp; Co</title><cusip>38388F108</cusip><identifiers><isin value="US38388F1084"/><ticker value="GRA US"/><other otherDesc="2232685" value="Sedol"/></identifiers><balance>470931</balance><units>NS</units><curCd>USD</curCd><valUSD>23928004</valUSD><pctVal>0.971</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>Graphic Packaging Holding Co</name><lei>N/A</lei><title>Graphic Packaging Holding Co</title><cusip>388689101</cusip><identifiers><isin value="US3886891015"/><ticker value="GPK US"/><other otherDesc="B2Q8249" value="Sedol"/></identifiers><balance>3087036</balance><units>NS</units><curCd>USD</curCd><valUSD>43187634</valUSD><pctVal>1.752</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>Hartford Financial Services Gr</name><lei>IU7C3FTM7Y3BQM112U94</lei><title>Hartford Financial Services Group Inc</title><cusip>416515104</cusip><identifiers><isin value="US4165151048"/><ticker value="HIG US"/><other otherDesc="2476193" value="Sedol"/></identifiers><balance>1624551</balance><units>NS</units><curCd>USD</curCd><valUSD>62626441</valUSD><pctVal>2.541</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>Hologic Inc</name><lei>549300DYP6F5ZJL0LB74</lei><title>Hologic Inc</title><cusip>436440101</cusip><identifiers><isin value="US4364401012"/><ticker value="HOLX US"/><other otherDesc="2433530" value="Sedol"/></identifiers><balance>296547</balance><units>NS</units><curCd>USD</curCd><valUSD>16903179</valUSD><pctVal>0.686</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>IAA Inc</name><lei>549300PZCOPC5178W747</lei><title>IAA Inc</title><cusip>449253103</cusip><identifiers><isin value="US4492531037"/><ticker value="IAA US"/><other otherDesc="BJF8Q81" value="Sedol"/></identifiers><balance>899746</balance><units>NS</units><curCd>USD</curCd><valUSD>34703203</valUSD><pctVal>1.408</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>Laboratory Corp of America Hol</name><lei>OZ7UA8IXAIFILY2VZH07</lei><title>Laboratory Corp of America Holdings</title><cusip>50540R409</cusip><identifiers><isin value="US50540R4092"/><ticker value="LH US"/><other otherDesc="2586122" value="Sedol"/></identifiers><balance>452243</balance><units>NS</units><curCd>USD</curCd><valUSD>75122085</valUSD><pctVal>3.048</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>Lamar Advertising Co</name><lei>529900Y8WW4MKVPTB543</lei><title>Lamar Advertising Co</title><cusip>512816109</cusip><identifiers><isin value="US5128161099"/><ticker value="LAMR US"/><other otherDesc="BSPHGN6" value="Sedol"/></identifiers><balance>872367</balance><units>NS</units><curCd>USD</curCd><valUSD>58239221</valUSD><pctVal>2.363</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>Lamb Weston Holdings Inc</name><lei>5493005SMYID1D2OY946</lei><title>Lamb Weston Holdings Inc</title><cusip>513272104</cusip><identifiers><isin value="US5132721045"/><ticker value="LW US"/><other otherDesc="BDQZFJ3" value="Sedol"/></identifiers><balance>565176</balance><units>NS</units><curCd>USD</curCd><valUSD>36131702</valUSD><pctVal>1.466</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>Levi Strauss &amp; Co</name><lei>MB0UERO0RDFKU8258G77</lei><title>Levi Strauss &amp; Co</title><cusip>52736R102</cusip><identifiers><isin value="US52736R1023"/><ticker value="LEVI US"/><other otherDesc="BHRWS81" value="Sedol"/></identifiers><balance>2057440</balance><units>NS</units><curCd>USD</curCd><valUSD>27569696</valUSD><pctVal>1.119</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>Lincoln Electric Holdings Inc</name><lei>BIMGBY40SIN95O01BN93</lei><title>Lincoln Electric Holdings Inc</title><cusip>533900106</cusip><identifiers><isin value="US5339001068"/><ticker value="LECO US"/><other otherDesc="2516851" value="Sedol"/></identifiers><balance>531155</balance><units>NS</units><curCd>USD</curCd><valUSD>44744497</valUSD><pctVal>1.816</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>M&amp;T Bank Corp</name><lei>549300WYXDDBYRASEG81</lei><title>M&amp;T Bank Corp</title><cusip>55261F104</cusip><identifiers><isin value="US55261F1049"/><ticker value="MTB US"/><other otherDesc="2340168" value="Sedol"/></identifiers><balance>558179</balance><units>NS</units><curCd>USD</curCd><valUSD>58033871</valUSD><pctVal>2.355</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>Maxim Integrated Products Inc</name><lei>SO0H5YEO14Y4PVKQH532</lei><title>Maxim Integrated Products Inc</title><cusip>57772K101</cusip><identifiers><isin value="US57772K1016"/><ticker value="MXIM US"/><other otherDesc="2573760" value="Sedol"/></identifiers><balance>589252</balance><units>NS</units><curCd>USD</curCd><valUSD>35714564</valUSD><pctVal>1.449</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>Mid-America Apartment Communit</name><lei>549300FQZKFR5YNSHZ21</lei><title>Mid-America Apartment Communities Inc</title><cusip>59522J103</cusip><identifiers><isin value="US59522J1034"/><ticker value="MAA US"/><other otherDesc="2589132" value="Sedol"/></identifiers><balance>266175</balance><units>NS</units><curCd>USD</curCd><valUSD>30522287</valUSD><pctVal>1.238</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>NewMarket Corp</name><lei>54930082CG88ERDREQ47</lei><title>NewMarket Corp</title><cusip>651587107</cusip><identifiers><isin value="US6515871076"/><ticker value="NEU US"/><other otherDesc="B01CGF1" value="Sedol"/></identifiers><balance>113417</balance><units>NS</units><curCd>USD</curCd><valUSD>45421240</valUSD><pctVal>1.843</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>Nutrien Ltd</name><lei>5493002QQ7GD21OWF963</lei><title>Nutrien Ltd</title><cusip>67077M108</cusip><identifiers><isin value="CA67077M1086"/><ticker value="NTR US"/><other otherDesc="BDH3SB9" value="Sedol"/></identifiers><balance>989782</balance><units>NS</units><curCd>USD</curCd><valUSD>31772002</valUSD><pctVal>1.289</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>CA</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>1</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>O'Reilly Automotive Inc</name><lei>549300K2RLMQL149Q332</lei><title>O'Reilly Automotive Inc</title><cusip>67103H107</cusip><identifiers><isin value="US67103H1077"/><ticker value="ORLY US"/><other otherDesc="B65LWX6" value="Sedol"/></identifiers><balance>40639</balance><units>NS</units><curCd>USD</curCd><valUSD>17136247</valUSD><pctVal>0.695</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>PPL Corp</name><lei>9N3UAJSNOUXFKQLF3V18</lei><title>PPL Corp</title><cusip>69351T106</cusip><identifiers><isin value="US69351T1060"/><ticker value="PPL US"/><other otherDesc="2680905" value="Sedol"/></identifiers><balance>1201489</balance><units>NS</units><curCd>USD</curCd><valUSD>31046476</valUSD><pctVal>1.26</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>Pioneer Natural Resources Co</name><lei>FY8JBF7CCL2VE4F1B628</lei><title>Pioneer Natural Resources Co</title><cusip>723787107</cusip><identifiers><isin value="US7237871071"/><ticker value="PXD US"/><other otherDesc="2690830" value="Sedol"/></identifiers><balance>263635</balance><units>NS</units><curCd>USD</curCd><valUSD>25757139</valUSD><pctVal>1.045</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>Public Storage</name><lei>549300LMZF40TKJ6DM64</lei><title>Public Storage</title><cusip>74460D109</cusip><identifiers><isin value="US74460D1090"/><ticker value="PSA US"/><other otherDesc="2852533" value="Sedol"/></identifiers><balance>301510</balance><units>NS</units><curCd>USD</curCd><valUSD>57856754</valUSD><pctVal>2.348</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>Regions Financial Corp</name><lei>CW05CS5KW59QTC0DG824</lei><title>Regions Financial Corp</title><cusip>7591EP100</cusip><identifiers><isin value="US7591EP1005"/><ticker value="RF US"/><other otherDesc="B01R311" value="Sedol"/></identifiers><balance>2087976</balance><units>NS</units><curCd>USD</curCd><valUSD>23218293</valUSD><pctVal>0.942</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>Sanderson Farms Inc</name><lei>529900KZGVFTWHUO2759</lei><title>Sanderson Farms Inc</title><cusip>800013104</cusip><identifiers><isin value="US8000131040"/><ticker value="SAFM US"/><other otherDesc="2774336" value="Sedol"/></identifiers><balance>108373</balance><units>NS</units><curCd>USD</curCd><valUSD>12559347</valUSD><pctVal>0.51</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>Southwest Gas Holdings Inc</name><lei>N/A</lei><title>Southwest Gas Holdings Inc</title><cusip>844895102</cusip><identifiers><isin value="US8448951025"/><ticker value="SWX US"/><other otherDesc="2831888" value="Sedol"/></identifiers><balance>483187</balance><units>NS</units><curCd>USD</curCd><valUSD>33364062</valUSD><pctVal>1.354</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>Sterling Bancorp/DE</name><lei>549300LQK6SKH5ZXO648</lei><title>Sterling Bancorp/DE</title><cusip>85917A100</cusip><identifiers><isin value="US85917A1007"/><ticker value="STL US"/><other otherDesc="BFNXVB8" value="Sedol"/></identifiers><balance>1973266</balance><units>NS</units><curCd>USD</curCd><valUSD>23126677</valUSD><pctVal>0.938</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>Synopsys Inc</name><lei>QG7T915N9S0NY5UKNE63</lei><title>Synopsys Inc</title><cusip>871607107</cusip><identifiers><isin value="US8716071076"/><ticker value="SNPS US"/><other otherDesc="2867719" value="Sedol"/></identifiers><balance>97259</balance><units>NS</units><curCd>USD</curCd><valUSD>18965505</valUSD><pctVal>0.77</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>Tyson Foods Inc</name><lei>WD6L6041MNRW1JE49D58</lei><title>Tyson Foods Inc</title><cusip>902494103</cusip><identifiers><isin value="US9024941034"/><ticker value="TSN US"/><other otherDesc="2909730" value="Sedol"/></identifiers><balance>263372</balance><units>NS</units><curCd>USD</curCd><valUSD>15725942</valUSD><pctVal>0.638</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>Washington Federal Inc</name><lei>N/A</lei><title>Washington Federal Inc</title><cusip>938824109</cusip><identifiers><isin value="US9388241096"/><ticker value="WAFD US"/><other otherDesc="2941981" value="Sedol"/></identifiers><balance>1188026</balance><units>NS</units><curCd>USD</curCd><valUSD>31886618</valUSD><pctVal>1.294</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>Waste Connections Inc</name><lei>549300HDLRTPBQU69P29</lei><title>Waste Connections Inc</title><cusip>94106B101</cusip><identifiers><isin value="CA94106B1013"/><ticker value="WCN US"/><other otherDesc="BYVG1F6" value="Sedol"/></identifiers><balance>365872</balance><units>NS</units><curCd>USD</curCd><valUSD>34315135</valUSD><pctVal>1.392</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>CA</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>1</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>Westlake Chemical Corp</name><lei>GOXNEVUM0LL78B1OS344</lei><title>Westlake Chemical Corp</title><cusip>960413102</cusip><identifiers><isin value="US9604131022"/><ticker value="WLK US"/><other otherDesc="B01ZP20" value="Sedol"/></identifiers><balance>579065</balance><units>NS</units><curCd>USD</curCd><valUSD>31066837</valUSD><pctVal>1.261</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>Axis Capital Holdings Ltd</name><lei>N/A</lei><title>Axis Capital Holdings Ltd</title><cusip>G0692U109</cusip><identifiers><isin value="BMG0692U1099"/><ticker value="AXS US"/><other otherDesc="2677606" value="Sedol"/></identifiers><balance>1098973</balance><units>NS</units><curCd>USD</curCd><valUSD>44574345</valUSD><pctVal>1.809</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>BM</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>1</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>Axalta Coating Systems Ltd</name><lei>529900AGLPA40GV6H619</lei><title>Axalta Coating Systems Ltd</title><cusip>G0750C108</cusip><identifiers><isin value="BMG0750C1082"/><ticker value="AXTA US"/><other otherDesc="BSFWCF5" value="Sedol"/></identifiers><balance>1593212</balance><units>NS</units><curCd>USD</curCd><valUSD>35926931</valUSD><pctVal>1.458</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>BM</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>1</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>Aptiv PLC</name><lei>N/A</lei><title>Aptiv PLC</title><cusip>G6095L109</cusip><identifiers><isin value="JE00B783TY65"/><ticker value="APTV US"/><other otherDesc="B783TY6" value="Sedol"/></identifiers><balance>269673</balance><units>NS</units><curCd>USD</curCd><valUSD>21012920</valUSD><pctVal>0.853</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>JE</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>1</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>RenaissanceRe Holdings Ltd</name><lei>EK6GB9U3U58PDI411C94</lei><title>RenaissanceRe Holdings Ltd</title><cusip>G7496G103</cusip><identifiers><isin value="BMG7496G1033"/><ticker value="RNR US"/><other otherDesc="2728429" value="Sedol"/></identifiers><balance>371888</balance><units>NS</units><curCd>USD</curCd><valUSD>63604005</valUSD><pctVal>2.581</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>BM</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>1</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>Check Point Software Technolog</name><lei>2549003ZVBH73EPNS513</lei><title>Check Point Software Technologies Ltd</title><cusip>M22465104</cusip><identifiers><isin value="IL0010824113"/><ticker value="CHKP US"/><other otherDesc="2181334" value="Sedol"/></identifiers><balance>379821</balance><units>NS</units><curCd>USD</curCd><valUSD>40804170</valUSD><pctVal>1.656</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>IL</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>2020-08-14</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></nport:formData></nport:edgarSubmission>
