<?xml version="1.0" encoding="UTF-8"?><nport:edgarSubmission xmlns:nport="http://www.sec.gov/edgar/nport" xmlns="http://www.sec.gov/edgar/nport" xmlns:com="http://www.sec.gov/edgar/common" xmlns:ncom="http://www.sec.gov/edgar/nportcommon" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.sec.gov/edgar/nport eis_NPORT_Filer.xsd "><nport:headerData><nport:submissionType>NPORT-P</nport:submissionType><nport:isConfidential>false</nport:isConfidential><nport:filerInfo><nport:filer><nport:issuerCredentials><nport:cik>0000277751</nport:cik><nport:ccc>XXXXXXXX</nport:ccc></nport:issuerCredentials></nport:filer><nport:seriesClassInfo><nport:seriesId>S000057603</nport:seriesId><nport:classId>C000183903</nport:classId><nport:classId>C000183904</nport:classId><nport:classId>C000183905</nport:classId><nport:classId>C000183906</nport:classId><nport:classId>C000183907</nport:classId><nport:classId>C000183909</nport:classId><nport:classId>C000183910</nport:classId></nport:seriesClassInfo></nport:filerInfo></nport:headerData><nport:formData><genInfo><regName>JANUS INVESTMENT FUND</regName><regFileNumber>811-01879</regFileNumber><regCik>0000277751</regCik><regLei>W6UYDZFUOFJ4HQQ32382</regLei><regStreet1>151 DETROIT STREET</regStreet1><regCity>DENVER</regCity><regStateConditional regCountry="US" regState="US-CO"/><regZipOrPostalCode>80206</regZipOrPostalCode><regPhone>3033333863</regPhone><seriesName>Janus Henderson European Focus Fund</seriesName><seriesId>S000057603</seriesId><seriesLei>549300B6VJPM3NFA9J78</seriesLei><repPdEnd>2020-09-30</repPdEnd><repPdDate>2020-06-30</repPdDate><isFinalFiling>N</isFinalFiling></genInfo><fundInfo><totAssets>342161020</totAssets><totLiabs>5211606</totLiabs><netAssets>336949414</netAssets><assetsAttrMiscSec>0</assetsAttrMiscSec><assetsInvested>0</assetsInvested><amtPayOneYrBanksBorr>0</amtPayOneYrBanksBorr><amtPayOneYrCtrldComp>0</amtPayOneYrCtrldComp><amtPayOneYrOthAffil>0</amtPayOneYrOthAffil><amtPayOneYrOther>0</amtPayOneYrOther><amtPayAftOneYrBanksBorr>0</amtPayAftOneYrBanksBorr><amtPayAftOneYrCtrldComp>0</amtPayAftOneYrCtrldComp><amtPayAftOneYrOthAffil>0</amtPayAftOneYrOthAffil><amtPayAftOneYrOther>0</amtPayAftOneYrOther><delayDeliv>0</delayDeliv><standByCommit>0</standByCommit><liquidPref>0</liquidPref><cshNotRptdInCorD>2696216</cshNotRptdInCorD><isNonCashCollateral>N</isNonCashCollateral><returnInfo><monthlyTotReturns><monthlyTotReturn classId="C000183903" rtn1="3.63" rtn2="7.12" rtn3="8.77"/><monthlyTotReturn classId="C000183904" rtn1="3.54" rtn2="7.09" rtn3="8.65"/><monthlyTotReturn classId="C000183905" rtn1="3.62" rtn2="7.14" rtn3="8.79"/><monthlyTotReturn classId="C000183906" rtn1="3.62" rtn2="7.14" rtn3="8.79"/><monthlyTotReturn classId="C000183907" rtn1="3.64" rtn2="7.15" rtn3="8.77"/><monthlyTotReturn classId="C000183909" rtn1="3.6" rtn2="7.1" rtn3="8.75"/><monthlyTotReturn classId="C000183910" rtn1="3.62" rtn2="7.14" rtn3="8.75"/></monthlyTotReturns><monthlyReturnCats><commodityContracts><mon1 netRealizedGain="0" netUnrealizedAppr="0"/><mon2 netRealizedGain="0" netUnrealizedAppr="0"/><mon3 netRealizedGain="0" netUnrealizedAppr="0"/><forwardCategory><instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/></forwardCategory><futureCategory><instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/></futureCategory><optionCategory><instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/></optionCategory><swaptionCategory><instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/></swaptionCategory><swapCategory><instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/></swapCategory><warrantCategory><instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/></warrantCategory><otherCategory><instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/></otherCategory></commodityContracts><creditContracts><mon1 netRealizedGain="0" netUnrealizedAppr="0"/><mon2 netRealizedGain="0" netUnrealizedAppr="0"/><mon3 netRealizedGain="0" netUnrealizedAppr="0"/><forwardCategory><instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/></forwardCategory><futureCategory><instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/></futureCategory><optionCategory><instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/></optionCategory><swaptionCategory><instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/></swaptionCategory><swapCategory><instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/></swapCategory><warrantCategory><instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/></warrantCategory><otherCategory><instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/></otherCategory></creditContracts><equityContracts><mon1 netRealizedGain="305904" netUnrealizedAppr="211302"/><mon2 netRealizedGain="0" netUnrealizedAppr="478193"/><mon3 netRealizedGain="-432432" netUnrealizedAppr="1929615"/><forwardCategory><instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/></forwardCategory><futureCategory><instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/></futureCategory><optionCategory><instrMon1 netRealizedGain="305904" netUnrealizedAppr="211302"/><instrMon2 netRealizedGain="N/A" netUnrealizedAppr="478193"/><instrMon3 netRealizedGain="-432432" netUnrealizedAppr="1929615"/></optionCategory><swaptionCategory><instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/></swaptionCategory><swapCategory><instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/></swapCategory><warrantCategory><instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/></warrantCategory><otherCategory><instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/></otherCategory></equityContracts><foreignExchgContracts><mon1 netRealizedGain="0" netUnrealizedAppr="0"/><mon2 netRealizedGain="0" netUnrealizedAppr="0"/><mon3 netRealizedGain="0" netUnrealizedAppr="0"/><forwardCategory><instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/></forwardCategory><futureCategory><instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/></futureCategory><optionCategory><instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/></optionCategory><swaptionCategory><instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/></swaptionCategory><swapCategory><instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/></swapCategory><warrantCategory><instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/></warrantCategory><otherCategory><instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/></otherCategory></foreignExchgContracts><interestRtContracts><mon1 netRealizedGain="0" netUnrealizedAppr="0"/><mon2 netRealizedGain="0" netUnrealizedAppr="0"/><mon3 netRealizedGain="0" netUnrealizedAppr="0"/><forwardCategory><instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/></forwardCategory><futureCategory><instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/></futureCategory><optionCategory><instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/></optionCategory><swaptionCategory><instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/></swaptionCategory><swapCategory><instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/></swapCategory><warrantCategory><instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/></warrantCategory><otherCategory><instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/></otherCategory></interestRtContracts><otherContracts><mon1 netRealizedGain="0" netUnrealizedAppr="0"/><mon2 netRealizedGain="0" netUnrealizedAppr="0"/><mon3 netRealizedGain="0" netUnrealizedAppr="0"/><forwardCategory><instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/></forwardCategory><futureCategory><instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/></futureCategory><optionCategory><instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/></optionCategory><swaptionCategory><instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/></swaptionCategory><swapCategory><instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/></swapCategory><warrantCategory><instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/></warrantCategory><otherCategory><instrMon1 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon2 netRealizedGain="N/A" netUnrealizedAppr="N/A"/><instrMon3 netRealizedGain="N/A" netUnrealizedAppr="N/A"/></otherCategory></otherContracts></monthlyReturnCats><othMon1 netRealizedGain="8754788" netUnrealizedAppr="2854642"/><othMon2 netRealizedGain="2584264" netUnrealizedAppr="17757825"/><othMon3 netRealizedGain="-2911801" netUnrealizedAppr="27507562"/></returnInfo><mon1Flow redemption="-11282949.16" reinvestment="0" sales="3544919.22"/><mon2Flow redemption="-16611554.89" reinvestment="0" sales="2101354.27"/><mon3Flow redemption="-23437986.49" reinvestment="0" sales="23816989.73"/></fundInfo><invstOrSecs><invstOrSec><name>Bellway PLC</name><lei>213800CY4L3HST4FGZ98</lei><title>Bellway PLC</title><cusip>G09744155</cusip><identifiers><isin value="GB0000904986"/><ticker value="BWY LN"/><other otherDesc="90498" value="Sedol"/></identifiers><balance>125609</balance><units>NS</units><currencyConditional curCd="GBP" exchangeRt="0.80717"/><valUSD>3957096</valUSD><pctVal>1.174</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</title><cusip>G75754104</cusip><identifiers><isin value="GB0007188757"/><ticker value="RIO LN"/><other otherDesc="718875" value="Sedol"/></identifiers><balance>138229</balance><units>NS</units><currencyConditional curCd="GBP" exchangeRt="0.80717"/><valUSD>7776859</valUSD><pctVal>2.308</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>AstraZeneca PLC</name><lei>PY6ZZQWO2IZFZC3IOL08</lei><title>AstraZeneca PLC</title><cusip>G0593M107</cusip><identifiers><isin value="GB0009895292"/><ticker value="AZN LN"/><other otherDesc="989529" value="Sedol"/></identifiers><balance>73509</balance><units>NS</units><currencyConditional curCd="GBP" exchangeRt="0.80717"/><valUSD>7661806</valUSD><pctVal>2.274</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>adidas AG</name><lei>549300JSX0Z4CW0V5023</lei><title>adidas AG</title><cusip>D0066B185</cusip><identifiers><isin value="DE000A1EWWW0"/><ticker value="ADS GR"/><other otherDesc="4031976" value="Sedol"/></identifiers><balance>25104</balance><units>NS</units><currencyConditional curCd="EUR" exchangeRt="0.89015"/><valUSD>6567153</valUSD><pctVal>1.949</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>L'Oreal SA</name><lei>529900JI1GG6F7RKVI53</lei><title>L'Oreal SA</title><cusip>F58149133</cusip><identifiers><isin value="FR0000120321"/><ticker value="OR FP"/><other otherDesc="4057808" value="Sedol"/></identifiers><balance>28719</balance><units>NS</units><currencyConditional curCd="EUR" exchangeRt="0.89015"/><valUSD>9206258</valUSD><pctVal>2.732</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>EDP - Energias de Portugal SA</name><lei>529900CLC3WDMGI9VH80</lei><title>EDP - Energias de Portugal SA</title><cusip>X67925119</cusip><identifiers><isin value="PTEDP0AM0009"/><ticker value="EDP PL"/><other otherDesc="4103596" value="Sedol"/></identifiers><balance>1675061</balance><units>NS</units><currencyConditional curCd="EUR" exchangeRt="0.89015"/><valUSD>7987886</valUSD><pctVal>2.371</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>PT</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>2</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>KBC Group NV</name><lei>213800X3Q9LSAKRUWY91</lei><title>KBC Group NV</title><cusip>B5337G162</cusip><identifiers><isin value="BE0003565737"/><ticker value="KBC BB"/><other otherDesc="4497749" value="Sedol"/></identifiers><balance>84437</balance><units>NS</units><currencyConditional curCd="EUR" exchangeRt="0.89015"/><valUSD>4835637</valUSD><pctVal>1.435</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>BE</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>2</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>SAP SE</name><lei>529900D6BF99LW9R2E68</lei><title>SAP SE</title><cusip>D66992104</cusip><identifiers><isin value="DE0007164600"/><ticker value="SAP GR"/><other otherDesc="4846288" value="Sedol"/></identifiers><balance>54357</balance><units>NS</units><currencyConditional curCd="EUR" exchangeRt="0.89015"/><valUSD>7565621</valUSD><pctVal>2.245</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>UPM-Kymmene Oyj</name><lei>213800EC6PW5VU4J9U64</lei><title>UPM-Kymmene Oyj</title><cusip>X9518S108</cusip><identifiers><isin value="FI0009005987"/><ticker value="UPM FH"/><other otherDesc="5051252" value="Sedol"/></identifiers><balance>444490</balance><units>NS</units><currencyConditional curCd="EUR" exchangeRt="0.89015"/><valUSD>12826029</valUSD><pctVal>3.807</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>Duerr AG</name><lei>5299003APZ54EDTSRO20</lei><title>Duerr AG</title><cusip>D23279108</cusip><identifiers><isin value="DE0005565204"/><ticker value="DUE GR"/><other otherDesc="5119901" value="Sedol"/></identifiers><balance>196210</balance><units>NS</units><currencyConditional curCd="EUR" exchangeRt="0.89015"/><valUSD>5108185</valUSD><pctVal>1.516</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>Allianz SE</name><lei>529900K9B0N5BT694847</lei><title>Allianz SE</title><cusip>D03080112</cusip><identifiers><isin value="DE0008404005"/><ticker value="ALV GR"/><other otherDesc="5231485" value="Sedol"/></identifiers><balance>35400</balance><units>NS</units><currencyConditional curCd="EUR" exchangeRt="0.89015"/><valUSD>7220068</valUSD><pctVal>2.143</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>Barry Callebaut AG</name><lei>213800Y5RWKLDPUTT265</lei><title>Barry Callebaut AG (REG)</title><cusip>H05072105</cusip><identifiers><isin value="CH0009002962"/><ticker value="BARN SW"/><other otherDesc="5476929" value="Sedol"/></identifiers><balance>2219</balance><units>NS</units><currencyConditional curCd="CHF" exchangeRt="0.9472"/><valUSD>4230264</valUSD><pctVal>1.255</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>Kering SA</name><lei>549300VGEJKB7SVUZR78</lei><title>Kering SA</title><cusip>F5433L103</cusip><identifiers><isin value="FR0000121485"/><ticker value="KER FP"/><other otherDesc="5505072" value="Sedol"/></identifiers><balance>9148</balance><units>NS</units><currencyConditional curCd="EUR" exchangeRt="0.89015"/><valUSD>4968501</valUSD><pctVal>1.475</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>Daimler AG</name><lei>529900R27DL06UVNT076</lei><title>Daimler AG</title><cusip>D1668R123</cusip><identifiers><isin value="DE0007100000"/><ticker value="DAI GR"/><other otherDesc="5529027" value="Sedol"/></identifiers><balance>126791</balance><units>NS</units><currencyConditional curCd="EUR" exchangeRt="0.89015"/><valUSD>5138858</valUSD><pctVal>1.525</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>Nemetschek SE</name><lei>529900R0S2IX1S358J38</lei><title>Nemetschek SE</title><cusip>D56134105</cusip><identifiers><isin value="DE0006452907"/><ticker value="NEM GR"/><other otherDesc="5633962" value="Sedol"/></identifiers><balance>61237</balance><units>NS</units><currencyConditional curCd="EUR" exchangeRt="0.89015"/><valUSD>4201248</valUSD><pctVal>1.247</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>Sanofi</name><lei>549300E9PC51EN656011</lei><title>Sanofi</title><cusip>F5548N101</cusip><identifiers><isin value="FR0000120578"/><ticker value="SAN FP"/><other otherDesc="5671735" value="Sedol"/></identifiers><balance>71411</balance><units>NS</units><currencyConditional curCd="EUR" exchangeRt="0.89015"/><valUSD>7264681</valUSD><pctVal>2.156</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 Santander SA</name><lei>5493006QMFDDMYWIAM13</lei><title>Banco Santander SA</title><cusip>E19790109</cusip><identifiers><isin value="ES0113900J37"/><ticker value="SAN SM"/><other otherDesc="5705946" value="Sedol"/></identifiers><balance>2112225</balance><units>NS</units><currencyConditional curCd="EUR" exchangeRt="0.89015"/><valUSD>5150250</valUSD><pctVal>1.528</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>Chocoladefabriken Lindt &amp; Spru</name><lei>529900JYJNNOKKAGK736</lei><title>Chocoladefabriken Lindt &amp; Spruengli AG (PC)</title><cusip>H49983184</cusip><identifiers><isin value="CH0010570767"/><ticker value="LISP SW"/><other otherDesc="5962280" value="Sedol"/></identifiers><balance>519</balance><units>NS</units><currencyConditional curCd="CHF" exchangeRt="0.9472"/><valUSD>4270244</valUSD><pctVal>1.267</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>STMicroelectronics NV</name><lei>213800Z8NOHIKRI42W10</lei><title>STMicroelectronics NV</title><cusip>N83574108</cusip><identifiers><isin value="NL0000226223"/><ticker value="STM FP"/><other otherDesc="5962332" value="Sedol"/></identifiers><balance>436407</balance><units>NS</units><currencyConditional curCd="EUR" exchangeRt="0.89015"/><valUSD>11837950</valUSD><pctVal>3.513</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>Givaudan SA</name><lei>213800SVRMQA1TD91D41</lei><title>Givaudan SA</title><cusip>H3238Q102</cusip><identifiers><isin value="CH0010645932"/><ticker value="GIVN SW"/><other otherDesc="5980613" value="Sedol"/></identifiers><balance>1392</balance><units>NS</units><currencyConditional curCd="CHF" exchangeRt="0.9472"/><valUSD>5179011</valUSD><pctVal>1.537</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>Deutsche Boerse AG</name><lei>529900G3SW56SHYNPR95</lei><title>Deutsche Boerse AG</title><cusip>D1882G119</cusip><identifiers><isin value="DE0005810055"/><ticker value="DB1 GR"/><other otherDesc="7021963" value="Sedol"/></identifiers><balance>24431</balance><units>NS</units><currencyConditional curCd="EUR" exchangeRt="0.89015"/><valUSD>4415509</valUSD><pctVal>1.31</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>Peugeot SA</name><lei>969500TZ5950IT5FPQ42</lei><title>Peugeot SA</title><cusip>F72313111</cusip><identifiers><isin value="FR0000121501"/><ticker value="UG FP"/><other otherDesc="7103526" value="Sedol"/></identifiers><balance>372276</balance><units>NS</units><currencyConditional curCd="EUR" exchangeRt="0.89015"/><valUSD>6042498</valUSD><pctVal>1.793</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>Roche Holding AG</name><lei>549300U41AUUVOAAOB37</lei><title>Roche Holding AG</title><cusip>H69293217</cusip><identifiers><isin value="CH0012032048"/><ticker value="ROG SW"/><other otherDesc="7110388" value="Sedol"/></identifiers><balance>34961</balance><units>NS</units><currencyConditional curCd="CHF" exchangeRt="0.9472"/><valUSD>12107796</valUSD><pctVal>3.593</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>Nestle SA</name><lei>KY37LUS27QQX7BB93L28</lei><title>Nestle SA (REG)</title><cusip>H57312649</cusip><identifiers><isin value="CH0038863350"/><ticker value="NESN SW"/><other otherDesc="7123870" value="Sedol"/></identifiers><balance>137434</balance><units>NS</units><currencyConditional curCd="CHF" exchangeRt="0.9472"/><valUSD>15187055</valUSD><pctVal>4.507</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>Enel SpA</name><lei>WOCMU6HCI0OJWNPRZS33</lei><title>Enel SpA</title><cusip>T3679P115</cusip><identifiers><isin value="IT0003128367"/><ticker value="ENEL IM"/><other otherDesc="7144569" value="Sedol"/></identifiers><balance>964401</balance><units>NS</units><currencyConditional curCd="EUR" exchangeRt="0.89015"/><valUSD>8307789</valUSD><pctVal>2.466</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></securityLending></invstOrSec><invstOrSec><name>LANXESS AG</name><lei>529900PTLRE72EMYIJ77</lei><title>LANXESS AG</title><cusip>D5032B102</cusip><identifiers><isin value="DE0005470405"/><ticker value="LXS GR"/><other otherDesc="B05M8B7" value="Sedol"/></identifiers><balance>78747</balance><units>NS</units><currencyConditional curCd="EUR" exchangeRt="0.89015"/><valUSD>4139006</valUSD><pctVal>1.228</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>Koninklijke DSM NV</name><lei>724500SNT1MK246AHP04</lei><title>Koninklijke DSM NV</title><cusip>N5017D122</cusip><identifiers><isin value="NL0000009827"/><ticker value="DSM NA"/><other otherDesc="B0HZL93" value="Sedol"/></identifiers><balance>38836</balance><units>NS</units><currencyConditional curCd="EUR" exchangeRt="0.89015"/><valUSD>5367578</valUSD><pctVal>1.593</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>Amplifon</name><lei>ZYXJDNVM2JI3VBM8G556</lei><title>Amplifon SpA</title><cusip>T0388E118</cusip><identifiers><isin value="IT0004056880"/><ticker value="AMP"/><other otherDesc="B14NJ71" value="Sedol"/></identifiers><balance>127691</balance><units>NS</units><currencyConditional curCd="EUR" exchangeRt="0.89015"/><valUSD>3396009</valUSD><pctVal>1.008</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></securityLending></invstOrSec><invstOrSec><name>Symrise AG</name><lei>529900D82I6R9601CF26</lei><title>Symrise AG</title><cusip>D827A1108</cusip><identifiers><isin value="DE000SYM9999"/><ticker value="SY1 GR"/><other otherDesc="B1JB4K8" value="Sedol"/></identifiers><balance>55759</balance><units>NS</units><currencyConditional curCd="EUR" exchangeRt="0.89015"/><valUSD>6468601</valUSD><pctVal>1.92</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>Volvo AB</name><lei>549300HGV012CNC8JD22</lei><title>Volvo AB</title><cusip>928856301</cusip><identifiers><isin value="SE0000115446"/><ticker value="VOLVB SS"/><other otherDesc="B1QH830" value="Sedol"/></identifiers><balance>691329</balance><units>NS</units><currencyConditional curCd="SEK" exchangeRt="9.3151"/><valUSD>10810100</valUSD><pctVal>3.208</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>Smurfit Kappa Group PLC</name><lei>635400CPLP8H5ITDVT56</lei><title>Smurfit Kappa Group PLC</title><cusip>G8248F104</cusip><identifiers><isin value="IE00B1RR8406"/><ticker value="SKG ID"/><other otherDesc="B1RR840" value="Sedol"/></identifiers><balance>180075</balance><units>NS</units><currencyConditional curCd="EUR" exchangeRt="0.89015"/><valUSD>6008726</valUSD><pctVal>1.783</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>IE</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>2</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>Sandvik AB</name><lei>5299008ZUAXN43LVZF54</lei><title>Sandvik AB</title><cusip>W74857165</cusip><identifiers><isin value="SE0000667891"/><ticker value="SAND SS"/><other otherDesc="B1VQ252" value="Sedol"/></identifiers><balance>234614</balance><units>NS</units><currencyConditional curCd="SEK" exchangeRt="9.3151"/><valUSD>4377400</valUSD><pctVal>1.299</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>DSV PANALPINA A/S</name><lei>529900X41C0BSLK67H70</lei><title>DSV Panalpina A/S</title><cusip>K3013J154</cusip><identifiers><isin value="DK0060079531"/><ticker value="DSV DC"/><other otherDesc="B1WT5G2" value="Sedol"/></identifiers><balance>52979</balance><units>NS</units><currencyConditional curCd="DKK" exchangeRt="6.6318"/><valUSD>6463895</valUSD><pctVal>1.918</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>Iberdrola SA</name><lei>5QK37QC7NWOJ8D7WVQ45</lei><title>Iberdrola SA</title><cusip>E6165F166</cusip><identifiers><isin value="ES0144580Y14"/><ticker value="IBE SM"/><other otherDesc="B288C92" value="Sedol"/></identifiers><balance>530643</balance><units>NS</units><currencyConditional curCd="EUR" exchangeRt="0.89015"/><valUSD>6145584</valUSD><pctVal>1.824</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>Julius Baer Group Ltd</name><lei>5299007MF0604ZGJER92</lei><title>Julius Baer Group Ltd</title><cusip>H4414N103</cusip><identifiers><isin value="CH0102484968"/><ticker value="BAER"/><other otherDesc="B4R2R50" value="Sedol"/></identifiers><balance>112321</balance><units>NS</units><currencyConditional curCd="CHF" exchangeRt="0.9472"/><valUSD>4693450</valUSD><pctVal>1.393</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>KION Group AG</name><lei>5299005KY91C4C6U9H17</lei><title>KION Group AG</title><cusip>D4S14D103</cusip><identifiers><isin value="DE000KGX8881"/><ticker value="KGX GR"/><other otherDesc="BB22L96" value="Sedol"/></identifiers><balance>165622</balance><units>NS</units><currencyConditional curCd="EUR" exchangeRt="0.89015"/><valUSD>10166643</valUSD><pctVal>3.017</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>Knorr-Bremse AG</name><lei>5299001GRRO0Z25YZT52</lei><title>Knorr-Bremse AG</title><cusip>D4S43E114</cusip><identifiers><isin value="DE000KBX1006"/><ticker value="KBX GR"/><other otherDesc="BD2P9X9" value="Sedol"/></identifiers><balance>51216</balance><units>NS</units><currencyConditional curCd="EUR" exchangeRt="0.89015"/><valUSD>5181612</valUSD><pctVal>1.538</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>Epiroc AB</name><lei>5493004Q73OEYW1SPE91</lei><title>Epiroc AB</title><cusip>W25918116</cusip><identifiers><isin value="SE0011166933"/><ticker value="EPIA SS"/><other otherDesc="BDZV116" value="Sedol"/></identifiers><balance>480527</balance><units>NS</units><currencyConditional curCd="SEK" exchangeRt="9.3151"/><valUSD>5980920</valUSD><pctVal>1.775</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>Novo Nordisk A/S</name><lei>549300DAQ1CVT6CXN342</lei><title>Novo Nordisk A/S</title><cusip>K72807132</cusip><identifiers><isin value="DK0060534915"/><ticker value="NOVOB DC"/><other otherDesc="BHC8X90" value="Sedol"/></identifiers><balance>106769</balance><units>NS</units><currencyConditional curCd="DKK" exchangeRt="6.6318"/><valUSD>6909877</valUSD><pctVal>2.051</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>Anima Holding SpA</name><lei>549300T1EREIRH8ICX03</lei><title>Anima Holding SpA</title><cusip>T0409R106</cusip><identifiers><isin value="IT0004998065"/><ticker value="ANIM IM"/><other otherDesc="BLLJ381" value="Sedol"/></identifiers><balance>381715</balance><units>NS</units><currencyConditional curCd="EUR" exchangeRt="0.89015"/><valUSD>1638928</valUSD><pctVal>0.486</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>JDE PEETS N.V.</name><lei>724500EHG519SE5ZRT89</lei><title>JDE Peet's BV</title><cusip>N/A</cusip><identifiers><isin value="NL0014332678"/><ticker value="JDEP"/><other otherDesc="BMC4ZZ3" value="Sedol"/></identifiers><balance>125015</balance><units>NS</units><currencyConditional curCd="EUR" exchangeRt="0.89015"/><valUSD>5067170</valUSD><pctVal>1.504</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>NL</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>1</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>Wizz Air Holdings Plc</name><lei>213800COXGZCORLJZA85</lei><title>Wizz Air Holdings Plc</title><cusip>G96871101</cusip><identifiers><isin value="JE00BN574F90"/><ticker value="WIZZ LN"/><other otherDesc="BN574F9" value="Sedol"/></identifiers><balance>114190</balance><units>NS</units><currencyConditional curCd="GBP" exchangeRt="0.80717"/><valUSD>4711907</valUSD><pctVal>1.398</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>JE</invCountry><isRestrictedSec>Y</isRestrictedSec><fairValLevel>2</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>BNN Technology PLC</name><lei>2138003TI7YQLRNDN455</lei><title>BNN Technology PLC</title><cusip>G1200W108</cusip><identifiers><isin value="GB00BNBNSF91"/><ticker value="BNN"/><other otherDesc="BNBNSF9" value="Sedol"/></identifiers><balance>11756231</balance><units>NS</units><currencyConditional curCd="GBP" exchangeRt="0.80717"/><valUSD>553461</valUSD><pctVal>0.164</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>GB</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>3</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>NN Group NV</name><lei>724500OHYNDT9OY6Q215</lei><title>NN Group NV</title><cusip>N64038107</cusip><identifiers><isin value="NL0010773842"/><ticker value="NN NA"/><other otherDesc="BNG8PQ9" value="Sedol"/></identifiers><balance>169719</balance><units>NS</units><currencyConditional curCd="EUR" exchangeRt="0.89015"/><valUSD>5691058</valUSD><pctVal>1.689</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>FinecoBank Banca Fineco SpA</name><lei>549300L7YCATGO57ZE10</lei><title>FinecoBank Banca Fineco SpA</title><cusip>T4R999104</cusip><identifiers><isin value="IT0000072170"/><ticker value="FBK IM"/><other otherDesc="BNGN9Z1" value="Sedol"/></identifiers><balance>619171</balance><units>NS</units><currencyConditional curCd="EUR" exchangeRt="0.89015"/><valUSD>8342699</valUSD><pctVal>2.476</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></securityLending></invstOrSec><invstOrSec><name>ams AG</name><lei>5299001JPPT2QFTV5D76</lei><title>ams AG</title><cusip>A0400Q115</cusip><identifiers><isin value="AT0000A18XM4"/><ticker value="AMS SW"/><other otherDesc="BPF0548" value="Sedol"/></identifiers><balance>141308</balance><units>NS</units><currencyConditional curCd="CHF" exchangeRt="0.9472"/><valUSD>2103268</valUSD><pctVal>0.624</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>AT</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>2</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>Flutter Entertainment PLC</name><lei>635400EG4YIJLJMZJ782</lei><title>Flutter Entertainment PLC</title><cusip>G3643J108</cusip><identifiers><isin value="IE00BWT6H894"/><ticker value="FLTR ID"/><other otherDesc="BWT6H89" value="Sedol"/></identifiers><balance>25148</balance><units>NS</units><currencyConditional curCd="EUR" exchangeRt="0.89015"/><valUSD>3300729</valUSD><pctVal>0.98</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>IE</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>2</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>UniCredit SpA</name><lei>549300TRUWO2CD2G5692</lei><title>UniCredit SpA</title><cusip>T9T23L642</cusip><identifiers><isin value="IT0005239360"/><ticker value="UCG IM"/><other otherDesc="BYMXPS7" value="Sedol"/></identifiers><balance>507159</balance><units>NS</units><currencyConditional curCd="EUR" exchangeRt="0.89015"/><valUSD>4655630</valUSD><pctVal>1.382</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></securityLending></invstOrSec><invstOrSec><name>Dometic Group AB</name><lei>549300STIPMK5VSA7Y59</lei><title>Dometic Group AB</title><cusip>W2R936106</cusip><identifiers><isin value="SE0007691613"/><ticker value="DOM SS"/><other otherDesc="BYSXJB2" value="Sedol"/></identifiers><balance>570189</balance><units>NS</units><currencyConditional curCd="SEK" exchangeRt="9.3151"/><valUSD>5106015</valUSD><pctVal>1.515</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>SE</invCountry><isRestrictedSec>Y</isRestrictedSec><fairValLevel>2</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>Orsted A/S</name><lei>W9NG6WMZIYEU8VEDOG48</lei><title>Orsted A/S</title><cusip>K7653Q105</cusip><identifiers><isin value="DK0060094928"/><ticker value="ORSTED DC"/><other otherDesc="BYT16L4" value="Sedol"/></identifiers><balance>63214</balance><units>NS</units><currencyConditional curCd="DKK" exchangeRt="6.6318"/><valUSD>7291225</valUSD><pctVal>2.164</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>DK</invCountry><isRestrictedSec>Y</isRestrictedSec><fairValLevel>2</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>VAT Group AG</name><lei>529900MVFK7NVALR7Y83</lei><title>VAT Group AG</title><cusip>H90508104</cusip><identifiers><isin value="CH0311864901"/><ticker value="VACN SW"/><other otherDesc="BYZWMR9" value="Sedol"/></identifiers><balance>23802</balance><units>NS</units><currencyConditional curCd="CHF" exchangeRt="0.9472"/><valUSD>4340631</valUSD><pctVal>1.288</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>CORP</issuerCat><invCountry>CH</invCountry><isRestrictedSec>Y</isRestrictedSec><fairValLevel>2</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>Fidelity Investments Money Market Treasury Portfolio</name><lei>N/A</lei><title>Fidelity Investments Money Market Treasury Portfolio</title><cusip>N/A</cusip><identifiers><other otherDesc="FISXX" value="Internal ID"/></identifiers><balance>1407056</balance><units>NS</units><curCd>USD</curCd><valUSD>1407056</valUSD><pctVal>0.418</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>RF</issuerCat><invCountry>US</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>1</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>Volkswagen AG</name><lei>529900NNUPAGGOMPXZ31</lei><title>Volkswagen AG</title><cusip>D94523103</cusip><identifiers><isin value="DE0007664039"/><ticker value="VOW3 GR"/><other otherDesc="5497168" value="Sedol"/></identifiers><balance>34597</balance><units>NS</units><currencyConditional curCd="EUR" exchangeRt="0.89015"/><valUSD>5231605</valUSD><pctVal>1.553</pctVal><payoffProfile>Long</payoffProfile><assetCat>EP</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>Jungheinrich</name><lei>529900PHZORTU6FSXE73</lei><title>Jungheinrich AG</title><cusip>D37552102</cusip><identifiers><isin value="DE0006219934"/><ticker value="43985"/><other otherDesc="5545670" value="Sedol"/></identifiers><balance>276425</balance><units>NS</units><currencyConditional curCd="EUR" exchangeRt="0.89015"/><valUSD>6423944</valUSD><pctVal>1.907</pctVal><payoffProfile>Long</payoffProfile><assetCat>EP</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>N/A</name><lei>N/A</lei><title>OTCOption/PUT American Equity.OREAL_FR_EUR_XPAR 18</title><cusip>N/A</cusip><identifiers><other otherDesc="CAXXCAQHO" value="Internal ID"/></identifiers><balance>-500</balance><units>NC</units><currencyConditional curCd="EUR" exchangeRt="0.89015"/><valUSD>-234134</valUSD><pctVal>-0.069</pctVal><payoffProfile>N/A</payoffProfile><assetCat>DE</assetCat><issuerConditional desc="N/A" issuerCat="OTHER"/><invCountry>US</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>2</fairValLevel><derivativeInfo><optionSwaptionWarrantDeriv derivCat="OPT"><counterparties><counterpartyName>JPMorgan Chase Bank, National Association</counterpartyName><counterpartyLei>7H6GLXDRUGQFU57RNE97</counterpartyLei></counterparties><putOrCall>Put</putOrCall><writtenOrPur>Written</writtenOrPur><descRefInstrmnt><otherRefInst><issuerName>L'Oreal SA</issuerName><issueTitle>L'Oreal SA</issueTitle><identifiers><cusip value="N/A"/><isin value="N/A"/><ticker value="OREP.EP"/></identifiers></otherRefInst></descRefInstrmnt><shareNo>100</shareNo><exercisePrice>220</exercisePrice><exercisePriceCurCd>EUR</exercisePriceCurCd><expDt>2020-12-18</expDt><delta>XXXX</delta><unrealizedAppr>887985</unrealizedAppr></optionSwaptionWarrantDeriv></derivativeInfo><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>N/A</name><lei>N/A</lei><title>OTCOption/PUT American Equity.AIRBUS_FR_EUR_XPAR 1</title><cusip>N/A</cusip><identifiers><other otherDesc="CAXXCAS1O" value="Internal ID"/></identifiers><balance>-1250</balance><units>NC</units><currencyConditional curCd="EUR" exchangeRt="0.89015"/><valUSD>-250592</valUSD><pctVal>-0.074</pctVal><payoffProfile>N/A</payoffProfile><assetCat>DE</assetCat><issuerConditional desc="N/A" issuerCat="OTHER"/><invCountry>US</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>2</fairValLevel><derivativeInfo><optionSwaptionWarrantDeriv derivCat="OPT"><counterparties><counterpartyName>Citibank, National Association</counterpartyName><counterpartyLei>E57ODZWZ7FF32TWEFA76</counterpartyLei></counterparties><putOrCall>Put</putOrCall><writtenOrPur>Written</writtenOrPur><descRefInstrmnt><otherRefInst><issuerName>Airbus SE</issuerName><issueTitle>Airbus SE</issueTitle><identifiers><cusip value="N/A"/><isin value="N/A"/><ticker value="AIR.EP"/></identifiers></otherRefInst></descRefInstrmnt><shareNo>100</shareNo><exercisePrice>40</exercisePrice><exercisePriceCurCd>EUR</exercisePriceCurCd><expDt>2020-12-18</expDt><delta>XXXX</delta><unrealizedAppr>212785</unrealizedAppr></optionSwaptionWarrantDeriv></derivativeInfo><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>N/A</name><lei>N/A</lei><title>OTCOption/PUT American Equity.ROYAL DUTCH SHEL.A_N</title><cusip>N/A</cusip><identifiers><other otherDesc="CAXXCB4NO" value="Internal ID"/></identifiers><balance>-3000</balance><units>NC</units><currencyConditional curCd="EUR" exchangeRt="0.89015"/><valUSD>-252969</valUSD><pctVal>-0.075</pctVal><payoffProfile>N/A</payoffProfile><assetCat>DE</assetCat><issuerConditional desc="N/A" issuerCat="OTHER"/><invCountry>US</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>2</fairValLevel><derivativeInfo><optionSwaptionWarrantDeriv derivCat="OPT"><counterparties><counterpartyName>Citibank, National Association</counterpartyName><counterpartyLei>E57ODZWZ7FF32TWEFA76</counterpartyLei></counterparties><putOrCall>Put</putOrCall><writtenOrPur>Written</writtenOrPur><descRefInstrmnt><otherRefInst><issuerName>Royal Dutch Shell plc</issuerName><issueTitle>Royal Dutch Shell Plc</issueTitle><identifiers><cusip value="N/A"/><isin value="N/A"/><ticker value="RDSa.EA"/></identifiers></otherRefInst></descRefInstrmnt><shareNo>100</shareNo><exercisePrice>12</exercisePrice><exercisePriceCurCd>EUR</exercisePriceCurCd><expDt>2020-12-18</expDt><delta>XXXX</delta><unrealizedAppr>39873</unrealizedAppr></optionSwaptionWarrantDeriv></derivativeInfo><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>N/A</name><lei>N/A</lei><title>OTCOption/PUT American Equity.TUI AG 21-Aug-2020 T</title><cusip>N/A</cusip><identifiers><other otherDesc="CAXXCBHKO" value="Internal ID"/></identifiers><balance>-6000</balance><units>NC</units><currencyConditional curCd="EUR" exchangeRt="0.89015"/><valUSD>-420586</valUSD><pctVal>-0.125</pctVal><payoffProfile>N/A</payoffProfile><assetCat>DE</assetCat><issuerConditional desc="N/A" issuerCat="OTHER"/><invCountry>US</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>2</fairValLevel><derivativeInfo><optionSwaptionWarrantDeriv derivCat="OPT"><counterparties><counterpartyName>Barclays Capital, Inc.</counterpartyName><counterpartyLei>AC28XWWI3WIBK2824319</counterpartyLei></counterparties><putOrCall>Put</putOrCall><writtenOrPur>Written</writtenOrPur><descRefInstrmnt><otherRefInst><issuerName>TUI AG</issuerName><issueTitle>TUI AG</issueTitle><identifiers><cusip value="N/A"/><isin value="N/A"/><ticker value="TUIGn.GR"/></identifiers></otherRefInst></descRefInstrmnt><shareNo>100</shareNo><exercisePrice>4</exercisePrice><exercisePriceCurCd>EUR</exercisePriceCurCd><expDt>2020-08-21</expDt><delta>XXXX</delta><unrealizedAppr>-241787</unrealizedAppr></optionSwaptionWarrantDeriv></derivativeInfo><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>N/A</name><lei>N/A</lei><title>OTCOption/CALL European EquityIndex.DeutscheBoersA</title><cusip>N/A</cusip><identifiers><other otherDesc="CAXXCBJTO" value="Internal ID"/></identifiers><balance>250</balance><units>NC</units><currencyConditional curCd="EUR" exchangeRt="0.89015"/><valUSD>650496</valUSD><pctVal>0.193</pctVal><payoffProfile>N/A</payoffProfile><assetCat>DE</assetCat><issuerConditional desc="N/A" issuerCat="OTHER"/><invCountry>US</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>2</fairValLevel><derivativeInfo><optionSwaptionWarrantDeriv derivCat="OPT"><counterparties><counterpartyName>Citibank, National Association</counterpartyName><counterpartyLei>E57ODZWZ7FF32TWEFA76</counterpartyLei></counterparties><putOrCall>Call</putOrCall><writtenOrPur>Purchased</writtenOrPur><descRefInstrmnt><otherRefInst><issuerName>Deutsche Boers AG</issuerName><issueTitle>Deutsche Boers AG</issueTitle><identifiers><cusip value="N/A"/><isin value="N/A"/><ticker value="DB1Gn.GR"/></identifiers></otherRefInst></descRefInstrmnt><shareNo>5</shareNo><exercisePrice>12500</exercisePrice><exercisePriceCurCd>EUR</exercisePriceCurCd><expDt>2020-08-21</expDt><delta>XXXX</delta><unrealizedAppr>-31394</unrealizedAppr></optionSwaptionWarrantDeriv></derivativeInfo><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>N/A</name><lei>N/A</lei><title>OTCOption/PUT European EquityIndex.DeutscheBoersAG</title><cusip>N/A</cusip><identifiers><other otherDesc="CAXXCBJUO" value="Internal ID"/></identifiers><balance>-250</balance><units>NC</units><currencyConditional curCd="EUR" exchangeRt="0.89015"/><valUSD>-399535</valUSD><pctVal>-0.119</pctVal><payoffProfile>N/A</payoffProfile><assetCat>DE</assetCat><issuerConditional desc="N/A" issuerCat="OTHER"/><invCountry>US</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>2</fairValLevel><derivativeInfo><optionSwaptionWarrantDeriv derivCat="OPT"><counterparties><counterpartyName>Citibank, National Association</counterpartyName><counterpartyLei>E57ODZWZ7FF32TWEFA76</counterpartyLei></counterparties><putOrCall>Put</putOrCall><writtenOrPur>Written</writtenOrPur><descRefInstrmnt><otherRefInst><issuerName>Deutsche Boers AG</issuerName><issueTitle>Deutsche Boers AG</issueTitle><identifiers><cusip value="N/A"/><isin value="N/A"/><ticker value="DB1Gn.GR"/></identifiers></otherRefInst></descRefInstrmnt><shareNo>5</shareNo><exercisePrice>11400</exercisePrice><exercisePriceCurCd>EUR</exercisePriceCurCd><expDt>2020-08-21</expDt><delta>XXXX</delta><unrealizedAppr>121570</unrealizedAppr></optionSwaptionWarrantDeriv></derivativeInfo><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:documents>XXXX</nport:documents></nport:edgarSubmission>
