<?xml version="1.0" encoding="UTF-8"?><edgarSubmission 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 "><headerData><submissionType>NPORT-P</submissionType><isConfidential>false</isConfidential><filerInfo><filer><issuerCredentials><cik>0000277751</cik><ccc>XXXXXXXX</ccc></issuerCredentials></filer><seriesClassInfo><seriesId>S000010480</seriesId><classId>C000028939</classId><classId>C000028940</classId><classId>C000077705</classId><classId>C000077706</classId><classId>C000077707</classId><classId>C000077708</classId><classId>C000077709</classId><classId>C000083526</classId><classId>C000114879</classId></seriesClassInfo></filerInfo></headerData><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 Small Cap Value Fund</seriesName><seriesId>S000010480</seriesId><seriesLei>4JUN205P8U622DADVL73</seriesLei><repPdEnd>2024-06-30</repPdEnd><repPdDate>2023-09-30</repPdDate><isFinalFiling>N</isFinalFiling></genInfo><fundInfo><totAssets>2334196840</totAssets><totLiabs>2615421</totLiabs><netAssets>2331581419</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>91335</cshNotRptdInCorD><borrowers><borrower aggrVal="4387692.06" lei="9R7GPTSO7KV3UQJZQ078" name="MORGAN STANLEY &amp; CO. LLC"/><borrower aggrVal="4897516.53" lei="MBNUM2BPBDO7JBLYG310" name="Citigroup Global Markets Inc."/></borrowers><isNonCashCollateral>N</isNonCashCollateral><returnInfo><monthlyTotReturns><monthlyTotReturn classId="C000077705" rtn1="-5.51" rtn2="-2.74" rtn3="5.16"/><monthlyTotReturn classId="C000077706" rtn1="-5.54" rtn2="-2.81" rtn3="5.14"/><monthlyTotReturn classId="C000083526" rtn1="-5.45" rtn2="-2.73" rtn3="5.17"/><monthlyTotReturn classId="C000077707" rtn1="-5.42" rtn2="-2.76" rtn3="5.19"/><monthlyTotReturn classId="C000028939" rtn1="-5.41" rtn2="-2.71" rtn3="5.2"/><monthlyTotReturn classId="C000114879" rtn1="-5.42" rtn2="-2.72" rtn3="5.2"/><monthlyTotReturn classId="C000077708" rtn1="-5.49" rtn2="-2.78" rtn3="5.1"/><monthlyTotReturn classId="C000077709" rtn1="-5.49" rtn2="-2.75" rtn3="5.12"/><monthlyTotReturn classId="C000028940" rtn1="-5.47" rtn2="-2.72" rtn3="5.15"/></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="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></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="-4288247" netUnrealizedAppr="-133853360"/><othMon2 netRealizedGain="-50554" netUnrealizedAppr="-73428977"/><othMon3 netRealizedGain="17477505" netUnrealizedAppr="110395649"/></returnInfo><mon1Flow redemption="-45069829.85" reinvestment="0" sales="17679485.45"/><mon2Flow redemption="-51383661.64" reinvestment="0" sales="23558785.05"/><mon3Flow redemption="-48258138.88" reinvestment="0" sales="19000625.11"/><varInfo><fundsDesignatedInfo><nameDesignatedIndex>RUSSELL 2000 VALUE IDX</nameDesignatedIndex><indexIdentifier>RUSSELL.MC.RUJ</indexIdentifier></fundsDesignatedInfo></varInfo></fundInfo><invstOrSecs><invstOrSec><name>N/A</name><lei>N/A</lei><title>Royal Bank of Canada</title><cusip>N/A</cusip><identifiers><other otherDesc="RBC SL TD" value="Internal ID"/></identifiers><balance>1874794</balance><units>PA</units><curCd>USD</curCd><valUSD>1874794</valUSD><pctVal>0.08</pctVal><payoffProfile>Long</payoffProfile><assetCat>STIV</assetCat><issuerCat>CORP</issuerCat><invCountry>US</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>2</fairValLevel><debtSec><maturityDt>2023-10-02</maturityDt><couponKind>Fixed</couponKind><annualizedRt>5.31</annualizedRt><isDefault>N</isDefault><areIntrstPmntsInArrs>N</areIntrstPmntsInArrs><isPaidKind>N</isPaidKind></debtSec><securityLending><cashCollateralCondition cashCollateralVal="1874794" isCashCollateral="Y"/><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>N/A</name><lei>N/A</lei><title>ING Financial Markets LLC</title><cusip>N/A</cusip><identifiers><other otherDesc="IG1002C23" value="Internal ID"/></identifiers><balance>22600000</balance><units>PA</units><curCd>USD</curCd><valUSD>22600000</valUSD><pctVal>0.969</pctVal><payoffProfile>Long</payoffProfile><assetCat>RA</assetCat><issuerCat>CORP</issuerCat><invCountry>US</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>2</fairValLevel><repurchaseAgrmt><transCat>Repurchase</transCat><notClearedCentCparty isCleared="N"><counterpartyInfos><counterpartyInfo lei="KBVRJ5K57JZ3E2AVWX40" name="ING Financial Markets LLC"/></counterpartyInfos></notClearedCentCparty><isTriParty>Y</isTriParty><repurchaseRt>5.3</repurchaseRt><maturityDt>2023-10-02</maturityDt><repurchaseCollaterals><repurchaseCollateral><principalAmt>24323356.181998</principalAmt><principalCd>USD</principalCd><collateralVal>23062188.2644214</collateralVal><collateralCd>USD</collateralCd><invstCat>UST</invstCat></repurchaseCollateral></repurchaseCollaterals></repurchaseAgrmt><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>N/A</name><lei>N/A</lei><title>Royal Bank of Canada, NY Branch</title><cusip>N/A</cusip><identifiers><other otherDesc="RY1002B23" value="Internal ID"/></identifiers><balance>20000000</balance><units>PA</units><curCd>USD</curCd><valUSD>20000000</valUSD><pctVal>0.858</pctVal><payoffProfile>Long</payoffProfile><assetCat>RA</assetCat><issuerCat>CORP</issuerCat><invCountry>US</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>2</fairValLevel><repurchaseAgrmt><transCat>Repurchase</transCat><notClearedCentCparty isCleared="N"><counterpartyInfos><counterpartyInfo lei="ES7IP3U3RHIGC71XBU11" name="Royal Bank of Canada"/></counterpartyInfos></notClearedCentCparty><isTriParty>Y</isTriParty><repurchaseRt>5.26</repurchaseRt><maturityDt>2023-10-02</maturityDt><repurchaseCollaterals><repurchaseCollateral><principalAmt>21311020</principalAmt><principalCd>USD</principalCd><collateralVal>20408947.116</collateralVal><collateralCd>USD</collateralCd><invstCat>UST</invstCat></repurchaseCollateral></repurchaseCollaterals></repurchaseAgrmt><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>AAR Corp</name><lei>MP76T5YQX3YK5VVAQ802</lei><title>AAR Corp</title><cusip>000361105</cusip><identifiers><isin value="US0003611052"/><ticker value="AIR US"/><other otherDesc="2001119" value="Sedol"/></identifiers><balance>416047</balance><units>NS</units><curCd>USD</curCd><valUSD>24767278</valUSD><pctVal>1.062</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>Academy Sports &amp; Outdoors Inc</name><lei>N/A</lei><title>Academy Sports and Outdoors Inc COM</title><cusip>00402L107</cusip><identifiers><isin value="US00402L1070"/><ticker value="ASO US"/><other otherDesc="BN7K304" value="Sedol"/></identifiers><balance>746235</balance><units>NS</units><curCd>USD</curCd><valUSD>35274528</valUSD><pctVal>1.513</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>AerSale Corp</name><lei>N/A</lei><title>AerSale Corp</title><cusip>00810F106</cusip><identifiers><isin value="US00810F1066"/><ticker value="ASLE US"/><other otherDesc="BN2RY85" value="Sedol"/></identifiers><balance>1581420</balance><units>NS</units><curCd>USD</curCd><valUSD>23626415</valUSD><pctVal>1.013</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>Amedisys Inc</name><lei>5299001RBS9GK9STN379</lei><title>Amedisys Inc</title><cusip>023436108</cusip><identifiers><isin value="US0234361089"/><ticker value="AMED US"/><other otherDesc="2024332" value="Sedol"/></identifiers><balance>123990</balance><units>NS</units><curCd>USD</curCd><valUSD>11580666</valUSD><pctVal>0.497</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>Ameris Bancorp</name><lei>PBJHNT51T5V6G5UQFV42</lei><title>Ameris Bancorp</title><cusip>03076K108</cusip><identifiers><isin value="US03076K1088"/><ticker value="ABCB US"/><other otherDesc="2038849" value="Sedol"/></identifiers><balance>1090640</balance><units>NS</units><curCd>USD</curCd><valUSD>41869670</valUSD><pctVal>1.796</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>Anika Therapeutics Inc</name><lei>529900R9LS3Z0O6QH455</lei><title>Anika Therapeutics Inc</title><cusip>035255108</cusip><identifiers><isin value="US0352551081"/><ticker value="ANIK US"/><other otherDesc="2035754" value="Sedol"/></identifiers><balance>288294</balance><units>NS</units><curCd>USD</curCd><valUSD>5370917</valUSD><pctVal>0.23</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>Artisan Partners Asset Managem</name><lei>549300T1FUI6JF63XU51</lei><title>Artisan Partners Asset Management Inc</title><cusip>04316A108</cusip><identifiers><isin value="US04316A1088"/><ticker value="APAM US"/><other otherDesc="B8FW545" value="Sedol"/></identifiers><balance>885037</balance><units>NS</units><curCd>USD</curCd><valUSD>33118085</valUSD><pctVal>1.42</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>Black Hills Corp</name><lei>3MGELCRSTNSAMJ962671</lei><title>Black Hills Corp</title><cusip>092113109</cusip><identifiers><isin value="US0921131092"/><ticker value="BKH US"/><other otherDesc="2101741" value="Sedol"/></identifiers><balance>921987</balance><units>NS</units><curCd>USD</curCd><valUSD>46643322</valUSD><pctVal>2.001</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>Cadence Bank</name><lei>Q7C315HKI8VX0SSKBS64</lei><title>Cadence Bank</title><cusip>12740C103</cusip><identifiers><isin value="US12740C1036"/><ticker value="CADE US"/><other otherDesc="BMCS168" value="Sedol"/></identifiers><balance>1869782</balance><units>NS</units><curCd>USD</curCd><valUSD>39676774</valUSD><pctVal>1.702</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>Casey's General Stores Inc</name><lei>549300CAFWSI86V66Q65</lei><title>Casey's General Stores Inc</title><cusip>147528103</cusip><identifiers><isin value="US1475281036"/><ticker value="CASY US"/><other otherDesc="2179414" value="Sedol"/></identifiers><balance>117739</balance><units>NS</units><curCd>USD</curCd><valUSD>31968493</valUSD><pctVal>1.371</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>ChampionX Corp</name><lei>549300EP2909K6DYYP38</lei><title>ChampionX Corp</title><cusip>15872M104</cusip><identifiers><isin value="US15872M1045"/><ticker value="CHX US"/><other otherDesc="BMW7N69" value="Sedol"/></identifiers><balance>1918048</balance><units>NS</units><curCd>USD</curCd><valUSD>68320870</valUSD><pctVal>2.93</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>Coca-Cola Consolidated Inc</name><lei>57VG5X0E00X0QJU7CQ58</lei><title>Coca-Cola Consolidated Inc</title><cusip>191098102</cusip><identifiers><isin value="US1910981026"/><ticker value="COKE US"/><other otherDesc="2206721" value="Sedol"/></identifiers><balance>51644</balance><units>NS</units><curCd>USD</curCd><valUSD>32862110</valUSD><pctVal>1.409</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>Comfort Systems USA Inc</name><lei>5299009DT1ZA5HTU6R38</lei><title>Comfort Systems USA Inc</title><cusip>199908104</cusip><identifiers><isin value="US1999081045"/><ticker value="FIX US"/><other otherDesc="2036047" value="Sedol"/></identifiers><balance>197685</balance><units>NS</units><curCd>USD</curCd><valUSD>33687501</valUSD><pctVal>1.445</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>Commercial Metals Co</name><lei>549300OQS2LO07ZJ7N73</lei><title>Commercial Metals Co</title><cusip>201723103</cusip><identifiers><isin value="US2017231034"/><ticker value="CMC US"/><other otherDesc="2213260" value="Sedol"/></identifiers><balance>892368</balance><units>NS</units><curCd>USD</curCd><valUSD>44091903</valUSD><pctVal>1.891</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>COPT Defense Properties</name><lei>YY1J47X6LF9TYY8JY420</lei><title>Corporate Office Properties Trust</title><cusip>22002T108</cusip><identifiers><isin value="US22002T1088"/><ticker value="CDP US"/><other otherDesc="2756152" value="Sedol"/></identifiers><balance>298727</balance><units>NS</units><curCd>USD</curCd><valUSD>7118664</valUSD><pctVal>0.305</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>Diodes Inc</name><lei>549300XP2X1ARVH3BX23</lei><title>Diodes Inc</title><cusip>254543101</cusip><identifiers><isin value="US2545431015"/><ticker value="DIOD US"/><other otherDesc="2270500" value="Sedol"/></identifiers><balance>151663</balance><units>NS</units><curCd>USD</curCd><valUSD>11957111</valUSD><pctVal>0.513</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>Dorman Products Inc</name><lei>N/A</lei><title>Dorman Products Inc</title><cusip>258278100</cusip><identifiers><isin value="US2582781009"/><ticker value="DORM US"/><other otherDesc="2718594" value="Sedol"/></identifiers><balance>207593</balance><units>NS</units><curCd>USD</curCd><valUSD>15727246</valUSD><pctVal>0.675</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>Eagle Materials Inc</name><lei>529900KRXRGXL61SG039</lei><title>Eagle Materials Inc</title><cusip>26969P108</cusip><identifiers><isin value="US26969P1084"/><ticker value="EXP US"/><other otherDesc="2191399" value="Sedol"/></identifiers><balance>187348</balance><units>NS</units><curCd>USD</curCd><valUSD>31197189</valUSD><pctVal>1.338</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>Eastern Bankshares Inc</name><lei>549300J245MBQU3DO403</lei><title>Eastern Bankshares Inc</title><cusip>27627N105</cusip><identifiers><isin value="US27627N1054"/><ticker value="EBC US"/><other otherDesc="BMXL9H3" value="Sedol"/></identifiers><balance>2503996</balance><units>NS</units><curCd>USD</curCd><valUSD>31400110</valUSD><pctVal>1.347</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>Embecta Corp</name><lei>549300RPG8GXVDHNXZ62</lei><title>Embecta Corp</title><cusip>29082K105</cusip><identifiers><isin value="US29082K1051"/><ticker value="EMBC US"/><other otherDesc="BMXWYR1" value="Sedol"/></identifiers><balance>1415428</balance><units>NS</units><curCd>USD</curCd><valUSD>21302191</valUSD><pctVal>0.914</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>Encore Wire Corp</name><lei>N/A</lei><title>Encore Wire Corp</title><cusip>292562105</cusip><identifiers><isin value="US2925621052"/><ticker value="WIRE US"/><other otherDesc="2273446" value="Sedol"/></identifiers><balance>215749</balance><units>NS</units><curCd>USD</curCd><valUSD>39365563</valUSD><pctVal>1.688</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>Enhabit Inc</name><lei>549300RFQ78SLDFSHF49</lei><title>Enhabit Inc</title><cusip>29332G102</cusip><identifiers><isin value="US29332G1022"/><ticker value="EHAB US"/><other otherDesc="BQFMQ93" value="Sedol"/></identifiers><balance>1371996</balance><units>NS</units><curCd>USD</curCd><valUSD>15434955</valUSD><pctVal>0.662</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>Enterprise Financial Services</name><lei>5493001XTU5DLD632129</lei><title>Enterprise Financial Services Corp</title><cusip>293712105</cusip><identifiers><isin value="US2937121059"/><ticker value="EFSC US"/><other otherDesc="2768889" value="Sedol"/></identifiers><balance>296169</balance><units>NS</units><curCd>USD</curCd><valUSD>11106337</valUSD><pctVal>0.476</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>Envista Holdings Corp</name><lei>549300BX623VURJZ5269</lei><title>Envista Holdings Corp</title><cusip>29415F104</cusip><identifiers><isin value="US29415F1049"/><ticker value="NVST US"/><other otherDesc="BK63SF3" value="Sedol"/></identifiers><balance>1032404</balance><units>NS</units><curCd>USD</curCd><valUSD>28783424</valUSD><pctVal>1.235</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>EVERTEC Inc</name><lei>N/A</lei><title>EVERTEC Inc</title><cusip>30040P103</cusip><identifiers><isin value="PR30040P1032"/><ticker value="EVTC US"/><other otherDesc="B7KY3Z6" value="Sedol"/></identifiers><balance>738993</balance><units>NS</units><curCd>USD</curCd><valUSD>27475760</valUSD><pctVal>1.178</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>FB Financial Corp</name><lei>5493000B2LD2C2A6C435</lei><title>FB Financial Corp</title><cusip>30257X104</cusip><identifiers><isin value="US30257X1046"/><ticker value="FBK US"/><other otherDesc="BYY5Z69" value="Sedol"/></identifiers><balance>816063</balance><units>NS</units><curCd>USD</curCd><valUSD>23143547</valUSD><pctVal>0.993</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 Busey Corp</name><lei>549300X4ZNLYSX7GUY60</lei><title>First Busey Corp</title><cusip>319383204</cusip><identifiers><isin value="US3193832041"/><ticker value="BUSE US"/><other otherDesc="BZ1LBM5" value="Sedol"/></identifiers><balance>796634</balance><units>NS</units><curCd>USD</curCd><valUSD>15311305</valUSD><pctVal>0.657</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 Interstate BancSystem In</name><lei>549300WRWYTYX0RCNJ43</lei><title>First Interstate BancSystem Inc - Class A</title><cusip>32055Y201</cusip><identifiers><isin value="US32055Y2019"/><ticker value="FIBK US"/><other otherDesc="B4RGHN0" value="Sedol"/></identifiers><balance>1531406</balance><units>NS</units><curCd>USD</curCd><valUSD>38193266</valUSD><pctVal>1.638</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>Fulton Financial Corp</name><lei>5493005QLZ6O1BNC0C11</lei><title>Fulton Financial Corp</title><cusip>360271100</cusip><identifiers><isin value="US3602711000"/><ticker value="FULT US"/><other otherDesc="2356585" value="Sedol"/></identifiers><balance>2397704</balance><units>NS</units><curCd>USD</curCd><valUSD>29036195</valUSD><pctVal>1.245</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>206005</balance><units>NS</units><curCd>USD</curCd><valUSD>22419524</valUSD><pctVal>0.962</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>Gibraltar Industries Inc</name><lei>549300AE5O3GN0YBLM57</lei><title>Gibraltar Industries Inc</title><cusip>374689107</cusip><identifiers><isin value="US3746891072"/><ticker value="ROCK US"/><other otherDesc="2369226" value="Sedol"/></identifiers><balance>372031</balance><units>NS</units><curCd>USD</curCd><valUSD>25115813</valUSD><pctVal>1.077</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>Globus Medical Inc</name><lei>5299003M2P4CIK0RF205</lei><title>Globus Medical Inc</title><cusip>379577208</cusip><identifiers><isin value="US3795772082"/><ticker value="GMED US"/><other otherDesc="B7D65M0" value="Sedol"/></identifiers><balance>543531</balance><units>NS</units><curCd>USD</curCd><valUSD>26986314</valUSD><pctVal>1.157</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>Gulfport Energy Corp</name><lei>254900DJRGZBUZ3F5038</lei><title>Gulfport Energy Corp</title><cusip>402635502</cusip><identifiers><isin value="US4026355028"/><ticker value="GPOR US"/><other otherDesc="BND7X43" value="Sedol"/></identifiers><balance>294149</balance><units>NS</units><curCd>USD</curCd><valUSD>34903720</valUSD><pctVal>1.497</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>H&amp;E Equipment Services Inc</name><lei>254900KVLRCDMQRYY541</lei><title>H&amp;E Equipment Services Inc</title><cusip>404030108</cusip><identifiers><isin value="US4040301081"/><ticker value="HEES US"/><other otherDesc="B0WR848" value="Sedol"/></identifiers><balance>568236</balance><units>NS</units><curCd>USD</curCd><valUSD>24542113</valUSD><pctVal>1.053</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>Hancock Whitney Corp</name><lei>549300GRNBWY8HIICT41</lei><title>Hancock Whitney Corp</title><cusip>410120109</cusip><identifiers><isin value="US4101201097"/><ticker value="HWC US"/><other otherDesc="2415497" value="Sedol"/></identifiers><balance>642581</balance><units>NS</units><curCd>USD</curCd><valUSD>23769071</valUSD><pctVal>1.019</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>Hanover Insurance Group Inc/Th</name><lei>JJYR6MFKFF6CF8DBZ078</lei><title>Hanover Insurance Group Inc</title><cusip>410867105</cusip><identifiers><isin value="US4108671052"/><ticker value="THG US"/><other otherDesc="2020415" value="Sedol"/></identifiers><balance>282784</balance><units>NS</units><curCd>USD</curCd><valUSD>31383368</valUSD><pctVal>1.346</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>Helios Technologies Inc</name><lei>5493000BCJSMIDRNTI78</lei><title>Helios Technologies Inc</title><cusip>42328H109</cusip><identifiers><isin value="US42328H1095"/><ticker value="HLIO US"/><other otherDesc="BK8MDM0" value="Sedol"/></identifiers><balance>237133</balance><units>NS</units><curCd>USD</curCd><valUSD>13156139</valUSD><pctVal>0.564</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>Hillenbrand Inc</name><lei>U246OE781574J2BUD366</lei><title>Hillenbrand Inc</title><cusip>431571108</cusip><identifiers><isin value="US4315711089"/><ticker value="HI US"/><other otherDesc="B2QGDP1" value="Sedol"/></identifiers><balance>1128169</balance><units>NS</units><curCd>USD</curCd><valUSD>47732830</valUSD><pctVal>2.047</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>Insight Enterprises Inc</name><lei>529900S8991TYW6YP792</lei><title>Insight Enterprises Inc</title><cusip>45765U103</cusip><identifiers><isin value="US45765U1034"/><ticker value="NSIT US"/><other otherDesc="2475060" value="Sedol"/></identifiers><balance>307205</balance><units>NS</units><curCd>USD</curCd><valUSD>44698327</valUSD><pctVal>1.917</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>Innospec Inc</name><lei>213800SQBACNY5IWJO68</lei><title>Innospec Inc</title><cusip>45768S105</cusip><identifiers><isin value="US45768S1050"/><ticker value="IOSP US"/><other otherDesc="2245597" value="Sedol"/></identifiers><balance>278300</balance><units>NS</units><curCd>USD</curCd><valUSD>28442260</valUSD><pctVal>1.22</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>Kirby Corp</name><lei>I7NO6FZO5GUCG585T325</lei><title>Kirby Corp</title><cusip>497266106</cusip><identifiers><isin value="US4972661064"/><ticker value="KEX US"/><other otherDesc="2493534" value="Sedol"/></identifiers><balance>543913</balance><units>NS</units><curCd>USD</curCd><valUSD>45035996</valUSD><pctVal>1.932</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>199278</balance><units>NS</units><curCd>USD</curCd><valUSD>36226748</valUSD><pctVal>1.554</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/I Homes Inc</name><lei>5299005M71FH9CCSFB69</lei><title>M/I Homes Inc</title><cusip>55305B101</cusip><identifiers><isin value="US55305B1017"/><ticker value="MHO US"/><other otherDesc="2549385" value="Sedol"/></identifiers><balance>357170</balance><units>NS</units><curCd>USD</curCd><valUSD>30016567</valUSD><pctVal>1.287</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>MSC Industrial Direct Co Inc</name><lei>0XVKH0LN6YGOWO2EGO17</lei><title>MSC Industrial Direct Co Inc</title><cusip>553530106</cusip><identifiers><isin value="US5535301064"/><ticker value="MSM US"/><other otherDesc="2567655" value="Sedol"/></identifiers><balance>338480</balance><units>NS</units><curCd>USD</curCd><valUSD>33221812</valUSD><pctVal>1.425</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>Steven Madden Ltd</name><lei>549300Z9GZ7GYJWSGF43</lei><title>Steven Madden Ltd</title><cusip>556269108</cusip><identifiers><isin value="US5562691080"/><ticker value="SHOO US"/><other otherDesc="2553911" value="Sedol"/></identifiers><balance>901076</balance><units>NS</units><curCd>USD</curCd><valUSD>28627185</valUSD><pctVal>1.228</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>Magnolia Oil &amp; Gas Corp</name><lei>N/A</lei><title>Magnolia Oil &amp; Gas Corp</title><cusip>559663109</cusip><identifiers><isin value="US5596631094"/><ticker value="MGY US"/><other otherDesc="BF2GC59" value="Sedol"/></identifiers><balance>1912910</balance><units>NS</units><curCd>USD</curCd><valUSD>43824768</valUSD><pctVal>1.88</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>Masonite International Corp</name><lei>549300H0H07ZFT4JYM32</lei><title>Masonite International Corp</title><cusip>575385109</cusip><identifiers><isin value="CA5753851099"/><ticker value="DOOR US"/><other otherDesc="BCZM468" value="Sedol"/></identifiers><balance>265004</balance><units>NS</units><curCd>USD</curCd><valUSD>24703673</valUSD><pctVal>1.06</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>Meritage Homes Corp</name><lei>52990044W9UMFJO2FB97</lei><title>Meritage Homes Corp</title><cusip>59001A102</cusip><identifiers><isin value="US59001A1025"/><ticker value="MTH US"/><other otherDesc="2601326" value="Sedol"/></identifiers><balance>185956</balance><units>NS</units><curCd>USD</curCd><valUSD>22759155</valUSD><pctVal>0.976</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>National Storage Affiliates Tr</name><lei>529900FS06O8GOYNR108</lei><title>National Storage Affiliates Trust</title><cusip>637870106</cusip><identifiers><isin value="US6378701063"/><ticker value="NSA US"/><other otherDesc="BWWCK85" value="Sedol"/></identifiers><balance>389524</balance><units>NS</units><curCd>USD</curCd><valUSD>12363492</valUSD><pctVal>0.53</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>OFG Bancorp</name><lei>549300Q4QEXJ37LEXQ06</lei><title>OFG Bancorp</title><cusip>67103X102</cusip><identifiers><isin value="PR67103X1020"/><ticker value="OFG US"/><other otherDesc="B87LKR8" value="Sedol"/></identifiers><balance>446402</balance><units>NS</units><curCd>USD</curCd><valUSD>13329564</valUSD><pctVal>0.572</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>Chord Energy Corp</name><lei>529900FA4V2YNIKZ0M71</lei><title>Oasis Petroleum Inc</title><cusip>674215207</cusip><identifiers><isin value="US6742152076"/><ticker value="CHRD US"/><other otherDesc="BLDDYB1" value="Sedol"/></identifiers><balance>454344</balance><units>NS</units><curCd>USD</curCd><valUSD>73635532</valUSD><pctVal>3.158</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>Ollie's Bargain Outlet Holding</name><lei>529900YO5DSQCPEFDZ05</lei><title>Ollie's Bargain Outlet Holdings Inc</title><cusip>681116109</cusip><identifiers><isin value="US6811161099"/><ticker value="OLLI US"/><other otherDesc="BZ22B38" value="Sedol"/></identifiers><balance>309862</balance><units>NS</units><curCd>USD</curCd><valUSD>23915149</valUSD><pctVal>1.026</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>Olo Inc</name><lei>N/A</lei><title>Olo Inc - Class A</title><cusip>68134L109</cusip><identifiers><isin value="US68134L1098"/><ticker value="OLO US"/><other otherDesc="BMFNRG2" value="Sedol"/></identifiers><balance>1040196</balance><units>NS</units><curCd>USD</curCd><valUSD>6303588</valUSD><pctVal>0.27</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>ONE Gas Inc</name><lei>549300HXDWI0LATTX840</lei><title>ONE Gas Inc</title><cusip>68235P108</cusip><identifiers><isin value="US68235P1084"/><ticker value="OGS US"/><other otherDesc="BJ0KXV4" value="Sedol"/></identifiers><balance>155012</balance><units>NS</units><curCd>USD</curCd><valUSD>10584219</valUSD><pctVal>0.454</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>Owens &amp; Minor Inc</name><lei>549300LMT5KQQXCEZ733</lei><title>Owens &amp; Minor Inc COM USD2</title><cusip>690732102</cusip><identifiers><isin value="US6907321029"/><ticker value="OMI US"/><other otherDesc="2665128" value="Sedol"/></identifiers><balance>2217957</balance><units>NS</units><curCd>USD</curCd><valUSD>35842185</valUSD><pctVal>1.537</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>Pacira BioSciences Inc</name><lei>549300P56LERYBDHCF69</lei><title>Pacira Pharmaceuticals Inc</title><cusip>695127100</cusip><identifiers><isin value="US6951271005"/><ticker value="PCRX US"/><other otherDesc="B3X26D8" value="Sedol"/></identifiers><balance>491983</balance><units>NS</units><curCd>USD</curCd><valUSD>15094038</valUSD><pctVal>0.647</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>Perficient Inc</name><lei>549300HTBXKL2755T650</lei><title>Perficient Inc</title><cusip>71375U101</cusip><identifiers><isin value="US71375U1016"/><ticker value="PRFT US"/><other otherDesc="2442547" value="Sedol"/></identifiers><balance>79997</balance><units>NS</units><curCd>USD</curCd><valUSD>4628626</valUSD><pctVal>0.199</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>Phillips Edison &amp; Co Inc</name><lei>549300JPN4YHYPXTJQ85</lei><title>Phillips Edison &amp; Co Inc</title><cusip>71844V201</cusip><identifiers><isin value="US71844V2016"/><ticker value="PECO US"/><other otherDesc="BN48ZR2" value="Sedol"/></identifiers><balance>682935</balance><units>NS</units><curCd>USD</curCd><valUSD>22905640</valUSD><pctVal>0.982</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>Physicians Realty Trust</name><lei>549300ITOVH0OY7PZC34</lei><title>Physicians Realty Trust</title><cusip>71943U104</cusip><identifiers><isin value="US71943U1043"/><ticker value="DOC US"/><other otherDesc="BC9S149" value="Sedol"/></identifiers><balance>2370644</balance><units>NS</units><curCd>USD</curCd><valUSD>28898150</valUSD><pctVal>1.239</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>Piper Sandler Cos</name><lei>QUQDBTUSOAKFEVMRMF78</lei><title>Piper Jaffray Cos</title><cusip>724078100</cusip><identifiers><isin value="US7240781002"/><ticker value="PIPR US"/><other otherDesc="2227089" value="Sedol"/></identifiers><balance>318546</balance><units>NS</units><curCd>USD</curCd><valUSD>46287919</valUSD><pctVal>1.985</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>Portillo's Inc</name><lei>N/A</lei><title>Portillo's Inc - Class A</title><cusip>73642K106</cusip><identifiers><isin value="US73642K1060"/><ticker value="PTLO US"/><other otherDesc="BNV0RN1" value="Sedol"/></identifiers><balance>51125</balance><units>NS</units><curCd>USD</curCd><valUSD>786814</valUSD><pctVal>0.034</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>PotlatchDeltic Corp</name><lei>54930084YA8UJOTXDM59</lei><title>PotlatchDeltic Corp</title><cusip>737630103</cusip><identifiers><isin value="US7376301039"/><ticker value="PCH US"/><other otherDesc="B0XXJN1" value="Sedol"/></identifiers><balance>456289</balance><units>NS</units><curCd>USD</curCd><valUSD>20710958</valUSD><pctVal>0.888</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>Rogers Corp</name><lei>PW0CN80KNFR7RUOOKJ84</lei><title>Rogers Corp</title><cusip>775133101</cusip><identifiers><isin value="US7751331015"/><ticker value="ROG US"/><other otherDesc="2746700" value="Sedol"/></identifiers><balance>133302</balance><units>NS</units><curCd>USD</curCd><valUSD>17525214</valUSD><pctVal>0.752</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>SPDR S&amp;P Biotech ETF</name><lei>549300Y3ODFMPD5XXL58</lei><title>SPDR S&amp;P Biotech</title><cusip>78464A870</cusip><identifiers><isin value="US78464A8707"/><ticker value="XBI US"/><other otherDesc="B0Y90K2" value="Sedol"/></identifiers><balance>252511</balance><units>NS</units><curCd>USD</curCd><valUSD>18438353</valUSD><pctVal>0.791</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><loanByFundCondition isLoanByFund="Y" loanVal="9285208.59"/></securityLending></invstOrSec><invstOrSec><name>Selective Insurance Group Inc</name><lei>549300R3WGJWLE40R258</lei><title>Selective Insurance Group Inc</title><cusip>816300107</cusip><identifiers><isin value="US8163001071"/><ticker value="SIGI US"/><other otherDesc="2766173" value="Sedol"/></identifiers><balance>167035</balance><units>NS</units><curCd>USD</curCd><valUSD>17233001</valUSD><pctVal>0.739</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>Simmons First National Corp</name><lei>549300IVR5AJKUVOGN05</lei><title>Simmons First National Corp - Class A</title><cusip>828730200</cusip><identifiers><isin value="US8287302009"/><ticker value="SFNC US"/><other otherDesc="2810133" value="Sedol"/></identifiers><balance>1288764</balance><units>NS</units><curCd>USD</curCd><valUSD>21857437</valUSD><pctVal>0.937</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>Skyline Champion Corp</name><lei>N/A</lei><title>Skyline Champion Corp</title><cusip>830830105</cusip><identifiers><isin value="US8308301055"/><ticker value="SKY US"/><other otherDesc="2814005" value="Sedol"/></identifiers><balance>158715</balance><units>NS</units><curCd>USD</curCd><valUSD>10113320</valUSD><pctVal>0.434</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>STAG Industrial Inc</name><lei>549300QWYX2W6FASVQ07</lei><title>STAG Industrial Inc</title><cusip>85254J102</cusip><identifiers><isin value="US85254J1025"/><ticker value="STAG US"/><other otherDesc="B64BRQ5" value="Sedol"/></identifiers><balance>1714954</balance><units>NS</units><curCd>USD</curCd><valUSD>59183063</valUSD><pctVal>2.538</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>Terex Corp</name><lei>YAWJZJYEQ7M1SYMOS462</lei><title>Terex Corp</title><cusip>880779103</cusip><identifiers><isin value="US8807791038"/><ticker value="TEX US"/><other otherDesc="2884224" value="Sedol"/></identifiers><balance>393004</balance><units>NS</units><curCd>USD</curCd><valUSD>22644890</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>TimkenSteel Corp</name><lei>549300QZTZWHDE9HJL14</lei><title>TimkenSteel Corp</title><cusip>887399103</cusip><identifiers><isin value="US8873991033"/><ticker value="TMST US"/><other otherDesc="BNBPMX1" value="Sedol"/></identifiers><balance>1539362</balance><units>NS</units><curCd>USD</curCd><valUSD>33434943</valUSD><pctVal>1.434</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>Janus Henderson Cash Collateral Fund</name><lei>N/A</lei><title>Janus Henderson Cash Collateral Fund</title><cusip>N/A</cusip><identifiers><other otherDesc="896" value="Internal ID"/></identifiers><balance>7596698</balance><units>NS</units><curCd>USD</curCd><valUSD>7596698</valUSD><pctVal>0.326</pctVal><payoffProfile>Long</payoffProfile><assetCat>EC</assetCat><issuerCat>PF</issuerCat><invCountry>US</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>2</fairValLevel><securityLending><cashCollateralCondition cashCollateralVal="7596698" isCashCollateral="Y"/><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></securityLending></invstOrSec><invstOrSec><name>Ultra Clean Holdings Inc</name><lei>5493007L6LS7QX18PE75</lei><title>Ultra Clean Holdings Inc</title><cusip>90385V107</cusip><identifiers><isin value="US90385V1070"/><ticker value="UCTT US"/><other otherDesc="B00G0F2" value="Sedol"/></identifiers><balance>729351</balance><units>NS</units><curCd>USD</curCd><valUSD>21639844</valUSD><pctVal>0.928</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>Under Armour Inc</name><lei>549300D4549QKWETZ406</lei><title>Under Armour Inc</title><cusip>904311107</cusip><identifiers><isin value="US9043111072"/><ticker value="UAA US"/><other otherDesc="B0PZN11" value="Sedol"/></identifiers><balance>2736087</balance><units>NS</units><curCd>USD</curCd><valUSD>18742196</valUSD><pctVal>0.804</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>UniFirst Corp/MA</name><lei>5493003XBTNWBC8UK019</lei><title>UniFirst Corp/MA</title><cusip>904708104</cusip><identifiers><isin value="US9047081040"/><ticker value="UNF US"/><other otherDesc="2466428" value="Sedol"/></identifiers><balance>132431</balance><units>NS</units><curCd>USD</curCd><valUSD>21587577</valUSD><pctVal>0.926</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>United Community Banks Inc/GA</name><lei>549300GVW0FV66X3U703</lei><title>United Community Banks Inc/GA</title><cusip>90984P303</cusip><identifiers><isin value="US90984P3038"/><ticker value="UCBI US"/><other otherDesc="2862156" value="Sedol"/></identifiers><balance>1625424</balance><units>NS</units><curCd>USD</curCd><valUSD>41302024</valUSD><pctVal>1.771</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>Varex Imaging Corp</name><lei>549300CWYWPVCT8E9W67</lei><title>Varex Imaging Corp</title><cusip>92214X106</cusip><identifiers><isin value="US92214X1063"/><ticker value="VREX US"/><other otherDesc="BDQYWV1" value="Sedol"/></identifiers><balance>876107</balance><units>NS</units><curCd>USD</curCd><valUSD>16462051</valUSD><pctVal>0.706</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>WSFS Financial Corp</name><lei>549300SU7VQHD6QRG886</lei><title>WSFS Financial Corp</title><cusip>929328102</cusip><identifiers><isin value="US9293281021"/><ticker value="WSFS US"/><other otherDesc="2940375" value="Sedol"/></identifiers><balance>466585</balance><units>NS</units><curCd>USD</curCd><valUSD>17030352</valUSD><pctVal>0.73</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>WisdomTree Inc</name><lei>549300WIU8IS7UFO7871</lei><title>WisdomTree Investments Inc</title><cusip>97717P104</cusip><identifiers><isin value="US97717P1049"/><ticker value="WT US"/><other otherDesc="2476513" value="Sedol"/></identifiers><balance>1573796</balance><units>NS</units><curCd>USD</curCd><valUSD>11016572</valUSD><pctVal>0.472</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>Boyd Group Services Inc</name><lei>549300FVHMLW88VSTP09</lei><title>Boyd Group Services Inc</title><cusip>103310108</cusip><identifiers><isin value="CA1033101082"/><ticker value="BYD CN"/><other otherDesc="BKPNC96" value="Sedol"/></identifiers><balance>231068</balance><units>NS</units><currencyConditional curCd="CAD" exchangeRt="1.3581"/><valUSD>41094068</valUSD><pctVal>1.762</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>Adient PLC</name><lei>5493002QLDY8O75RTR78</lei><title>Adient PLC</title><cusip>G0084W101</cusip><identifiers><isin value="IE00BD845X29"/><ticker value="ADNT US"/><other otherDesc="BD845X2" value="Sedol"/></identifiers><balance>411664</balance><units>NS</units><curCd>USD</curCd><valUSD>15108069</valUSD><pctVal>0.648</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>497035</balance><units>NS</units><curCd>USD</curCd><valUSD>28017863</valUSD><pctVal>1.202</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>Cushman &amp; Wakefield PLC</name><lei>N/A</lei><title>Cushman &amp; Wakefield PLC</title><cusip>G2717B108</cusip><identifiers><isin value="GB00BFZ4N465"/><ticker value="CWK US"/><other otherDesc="BFZ4N46" value="Sedol"/></identifiers><balance>2557361</balance><units>NS</units><curCd>USD</curCd><valUSD>19487091</valUSD><pctVal>0.836</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>Fabrinet</name><lei>5493004TETZ6IYF7CV44</lei><title>FABRINET</title><cusip>G3323L100</cusip><identifiers><isin value="KYG3323L1005"/><ticker value="FN US"/><other otherDesc="B4JSZL8" value="Sedol"/></identifiers><balance>232756</balance><units>NS</units><curCd>USD</curCd><valUSD>38781805</valUSD><pctVal>1.663</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>Weatherford International PLC</name><lei>529900LPBDSCQDJKHQ39</lei><title>Weatherford International PLC</title><cusip>G48833118</cusip><identifiers><isin value="IE00BLNN3691"/><ticker value="WFRD US"/><other otherDesc="BLNN369" value="Sedol"/></identifiers><balance>248702</balance><units>NS</units><curCd>USD</curCd><valUSD>22465252</valUSD><pctVal>0.964</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>Nomad Foods Ltd</name><lei>5493000ZZ1837DS2SI43</lei><title>Nomad Foods Ltd</title><cusip>G6564A105</cusip><identifiers><isin value="VGG6564A1057"/><ticker value="NOMD US"/><other otherDesc="BQFJGK5" value="Sedol"/></identifiers><balance>1775731</balance><units>NS</units><curCd>USD</curCd><valUSD>27026626</valUSD><pctVal>1.159</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>WNS Holdings Ltd</name><lei>529900RM7QHUD3W9DM42</lei><title>WNS Holdings Ltd (ADR)</title><cusip>92932M101</cusip><identifiers><isin value="US92932M1018"/><ticker value="WNS US"/><other otherDesc="B194GX4" value="Sedol"/></identifiers><balance>370252</balance><units>NS</units><curCd>USD</curCd><valUSD>25347452</valUSD><pctVal>1.087</pctVal><payoffProfile>Long</payoffProfile><assetConditional assetCat="OTHER" desc="GDR"/><issuerCat>CORP</issuerCat><invCountry>US</invCountry><isRestrictedSec>N</isRestrictedSec><fairValLevel>1</fairValLevel><securityLending><isCashCollateral>N</isCashCollateral><isNonCashCollateral>N</isNonCashCollateral><isLoanByFund>N</isLoanByFund></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>2023-11-14</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></formData><documents>XXXX</documents></edgarSubmission>
