NPORT-EX 2 nportex-60.htm

Janus Henderson VIT Research Portfolio

Schedule of Investments (unaudited)

September 30, 2021

        

Shares or
Principal Amounts

  

Value

 

Common Stocks– 100.2%

   

Aerospace & Defense – 2.0%

   
 

Howmet Aerospace Inc

 

134,419

  

$4,193,873

 
 

L3Harris Technologies Inc

 

22,602

  

4,977,864

 
 

Teledyne Technologies Inc*

 

10,278

  

4,415,223

 
  

13,586,960

 

Air Freight & Logistics – 1.5%

   
 

United Parcel Service Inc

 

53,983

  

9,830,304

 

Auto Components – 0.7%

   
 

Aptiv PLC*

 

32,331

  

4,816,349

 

Beverages – 1.2%

   
 

Constellation Brands Inc

 

36,810

  

7,755,499

 

Biotechnology – 2.9%

   
 

AbbVie Inc

 

75,378

  

8,131,025

 
 

Global Blood Therapeutics Inc*

 

49,151

  

1,252,367

 
 

Neurocrine Biosciences Inc*

 

32,011

  

3,070,175

 
 

Sarepta Therapeutics Inc*

 

42,212

  

3,903,766

 
 

Vertex Pharmaceuticals Inc*

 

15,298

  

2,774,904

 
  

19,132,237

 

Capital Markets – 1.3%

   
 

Apollo Global Management Inc#

 

59,222

  

3,647,483

 
 

Blackstone Group Inc

 

44,694

  

5,199,700

 
  

8,847,183

 

Chemicals – 1.0%

   
 

Sherwin-Williams Co

 

22,620

  

6,327,493

 

Commercial Services & Supplies – 0.6%

   
 

Copart Inc*

 

27,991

  

3,882,912

 

Containers & Packaging – 0.4%

   
 

Ball Corp

 

31,630

  

2,845,751

 

Diversified Consumer Services – 0.4%

   
 

Terminix Global Holdings Inc*

 

60,781

  

2,532,744

 

Entertainment – 2.8%

   
 

Liberty Media Corp-Liberty Formula One*

 

128,562

  

6,609,372

 
 

Netflix Inc*

 

20,154

  

12,300,792

 
  

18,910,164

 

Health Care Equipment & Supplies – 3.7%

   
 

Abbott Laboratories

 

40,755

  

4,814,388

 
 

Align Technology Inc*

 

6,320

  

4,205,518

 
 

Boston Scientific Corp*

 

37,323

  

1,619,445

 
 

Danaher Corp

 

8,370

  

2,548,163

 
 

Dentsply Sirona Inc

 

46,285

  

2,686,844

 
 

DexCom Inc*

 

7,331

  

4,009,031

 
 

Edwards Lifesciences Corp*

 

40,885

  

4,628,591

 
  

24,511,980

 

Health Care Providers & Services – 0.5%

   
 

Humana Inc

 

7,787

  

3,030,311

 

Hotels, Restaurants & Leisure – 1.7%

   
 

Aramark

 

121,131

  

3,980,365

 
 

Caesars Entertainment Inc*

 

67,889

  

7,622,577

 
  

11,602,942

 

Household Durables – 0.6%

   
 

Roku Inc*

 

12,457

  

3,903,401

 

Household Products – 1.6%

   
 

Procter & Gamble Co

 

76,611

  

10,710,218

 

Industrial Conglomerates – 0.7%

   
 

Honeywell International Inc

 

23,027

  

4,888,172

 

Information Technology Services – 8.7%

   
 

Fidelity National Information Services Inc

 

41,676

  

5,071,136

 
 

Mastercard Inc

 

58,912

  

20,482,524

 
 

Okta Inc*

 

17,895

  

4,247,199

 
 

Snowflake Inc - Class A*

 

18,957

  

5,733,166

 
 

Visa Inc

 

89,181

  

19,865,068

 
 

Wix.com Ltd*

 

12,595

  

2,468,242

 
  

57,867,335

 

Insurance – 0.7%

   
 

Aon PLC - Class A

 

15,651

  

4,472,586

 

Interactive Media & Services – 11.0%

   
 

Alphabet Inc - Class C*

 

16,730

  

44,590,636

 
 

Facebook Inc*

 

76,712

  

26,035,286

 


        

Shares or
Principal Amounts

  

Value

 

Common Stocks– (continued)

   

Interactive Media & Services– (continued)

   
 

Snap Inc*

 

39,833

  

$2,942,464

 
  

73,568,386

 

Internet & Direct Marketing Retail – 10.6%

   
 

Amazon.com Inc*

 

15,150

  

49,768,356

 
 

Booking Holdings Inc*

 

3,891

  

9,236,728

 
 

DoorDash Inc - Class A*

 

23,422

  

4,824,464

 
 

Farfetch Ltd - Class A*

 

66,273

  

2,483,912

 
 

Wayfair Inc*,#

 

16,297

  

4,164,046

 
  

70,477,506

 

Life Sciences Tools & Services – 0.9%

   
 

Illumina Inc*

 

8,041

  

3,261,510

 
 

Thermo Fisher Scientific Inc

 

5,266

  

3,008,624

 
  

6,270,134

 

Machinery – 0.7%

   
 

Ingersoll Rand Inc*

 

86,507

  

4,360,818

 

Oil, Gas & Consumable Fuels – 0.4%

   
 

Cheniere Energy Inc*

 

27,227

  

2,659,261

 

Pharmaceuticals – 1.4%

   
 

AstraZeneca PLC (ADR)

 

69,179

  

4,154,891

 
 

Horizon Therapeutics PLC*

 

24,546

  

2,688,769

 
 

Merck & Co Inc

 

34,084

  

2,560,049

 
  

9,403,709

 

Professional Services – 1.2%

   
 

CoStar Group Inc*

 

90,986

  

7,830,255

 

Real Estate Management & Development – 0.4%

   
 

Redfin Corp*

 

55,144

  

2,762,714

 

Road & Rail – 1.9%

   
 

JB Hunt Transport Services Inc

 

25,152

  

4,205,917

 
 

Uber Technologies Inc*

 

188,729

  

8,455,059

 
  

12,660,976

 

Semiconductor & Semiconductor Equipment – 10.2%

   
 

Advanced Micro Devices Inc*

 

45,652

  

4,697,591

 
 

ASML Holding NV

 

12,437

  

9,266,933

 
 

Lam Research Corp

 

13,962

  

7,946,472

 
 

Marvell Technology Inc

 

65,673

  

3,960,739

 
 

NVIDIA Corp

 

135,878

  

28,148,487

 
 

Texas Instruments Inc

 

55,000

  

10,571,550

 
 

Xilinx Inc

 

22,502

  

3,397,577

 
  

67,989,349

 

Software – 20.2%

   
 

Adobe Inc*

 

33,184

  

19,104,692

 
 

Atlassian Corp PLC - Class A*

 

23,763

  

9,301,313

 
 

Autodesk Inc*

 

28,318

  

8,075,444

 
 

Avalara Inc*

 

29,052

  

5,077,418

 
 

Cadence Design Systems Inc*

 

22,653

  

3,430,570

 
 

Microsoft Corp

 

216,857

  

61,136,325

 
 

RingCentral Inc*

 

21,886

  

4,760,205

 
 

SS&C Technologies Holdings Inc

 

16,892

  

1,172,305

 
 

Tyler Technologies Inc*

 

11,855

  

5,437,296

 
 

Workday Inc - Class A*

 

31,239

  

7,806,314

 
 

Zendesk Inc*

 

78,929

  

9,186,546

 
  

134,488,428

 

Specialty Retail – 1.4%

   
 

Burlington Stores Inc*

 

18,242

  

5,172,884

 
 

Olaplex Holdings Inc*

 

85,168

  

2,086,616

 
 

Vroom Inc*

 

96,009

  

2,118,919

 
  

9,378,419

 

Technology Hardware, Storage & Peripherals – 4.6%

   
 

Apple Inc

 

218,911

  

30,975,907

 

Textiles, Apparel & Luxury Goods – 1.3%

   
 

NIKE Inc - Class B

 

61,555

  

8,939,633

 

Trading Companies & Distributors – 0.7%

   
 

Ferguson PLC

 

34,914

  

4,839,161

 

Wireless Telecommunication Services – 0.3%

   
 

T-Mobile US Inc*

 

17,399

  

2,222,896

 

Total Common Stocks (cost $363,673,879)

 

668,282,093

 

Investments Purchased with Cash Collateral from Securities Lending– 0.1%

   

Investment Companies – 0.1%

   
 

Janus Henderson Cash Collateral Fund LLC, 0.0011%ºº,£

 

765,060

  

765,060

 

2


        

Shares or
Principal Amounts

  

Value

 

Investments Purchased with Cash Collateral from Securities Lending– (continued)

   

Time Deposits – 0%

   
 

Royal Bank of Canada, 0.0400%, 10/1/21

 

$191,265

  

$191,265

 

Total Investments Purchased with Cash Collateral from Securities Lending (cost $956,325)

 

956,325

 

Total Investments (total cost $364,630,204) – 100.3%

 

669,238,418

 

Liabilities, net of Cash, Receivables and Other Assets – (0.3)%

 

(2,154,274)

 

Net Assets – 100%

 

$667,084,144

 
      

Summary of Investments by Country - (Long Positions) (unaudited)

 
    

% of

 
    

Investment

 

Country

 

Value

 

Securities

 

United States

 

$641,563,127

 

95.8

%

Australia

 

9,301,313

 

1.4

 

Netherlands

 

9,266,933

 

1.4

 

United Kingdom

 

6,638,803

 

1.0

 

Israel

 

2,468,242

 

0.4

 
      
      

Total

 

$669,238,418

 

100.0

%

 

Schedules of Affiliated Investments – (% of Net Assets)

           
 

Dividend

Income

Realized

Gain/(Loss)

Change in

Unrealized

Appreciation/

Depreciation

Value

at 9/30/21

Investment Companies - N/A

Money Markets - N/A

 
 

Janus Henderson Cash Liquidity Fund LLC, 0.0559%ºº

$

503

$

-

$

-

$

-

Investments Purchased with Cash Collateral from Securities Lending - 0.1%

Investment Companies - 0.1%

 
 

Janus Henderson Cash Collateral Fund LLC, 0.0011%ºº

 

5,545

 

-

 

-

 

765,060

Total Affiliated Investments - 0.1%

$

6,048

$

-

$

-

$

765,060

           
 

Value

at 12/31/20

Purchases

Sales Proceeds

Value

at 9/30/21

Investment Companies - N/A

Money Markets - N/A

 
 

Janus Henderson Cash Liquidity Fund LLC, 0.0559%ºº

 

1,551,134

 

57,937,803

 

(59,488,937)

 

-

Investments Purchased with Cash Collateral from Securities Lending - 0.1%

Investment Companies - 0.1%

 
 

Janus Henderson Cash Collateral Fund LLC, 0.0011%ºº

 

1,318,917

 

45,794,554

 

(46,348,411)

 

765,060

3


Notes to Schedule of Investments (unaudited)

  

ADR

American Depositary Receipt

LLC

Limited Liability Company

PLC

Public Limited Company

  

*

Non-income producing security.

  

ºº

Rate shown is the 7-day yield as of September 30, 2021.

  

#

Loaned security; a portion of the security is on loan at September 30, 2021.

  

£

The Portfolio may invest in certain securities that are considered affiliated companies. As defined by the Investment Company Act of 1940, as amended, an affiliated company is one in which the Portfolio owns 5% or more of the outstanding voting securities, or a company which is under common ownership or control.

  

Net of income paid to the securities lending agent and rebates paid to the borrowing counterparties.

             

The following is a summary of the inputs that were used to value the Portfolio’s investments in securities and other financial instruments as of September 30, 2021.

 

Valuation Inputs Summary

       
    

Level 2 -

 

Level 3 -

  

Level 1 -

 

Other Significant

 

Significant

  

Quoted Prices

 

Observable Inputs

 

Unobservable Inputs

       

Assets

      

Investments In Securities:

      

Common Stocks

      

Trading Companies & Distributors

$

-

$

4,839,161

$

-

All Other

 

663,442,932

 

-

 

-

Investments Purchased with Cash Collateral from Securities Lending

 

-

 

956,325

 

-

Total Assets

$

663,442,932

$

5,795,486

$

-

       

4


Investment Valuation

Securities held by the Portfolio are valued in accordance with policies and procedures established by and under the supervision of the Trustees (the “Valuation Procedures”). Equity securities traded on a domestic securities exchange are generally valued at the closing prices on the primary market or exchange on which they trade. If such price is lacking for the trading period immediately preceding the time of determination, such securities are valued at their current bid price. Equity securities that are traded on a foreign exchange are generally valued at the closing prices on such markets. In the event that there is no current trading volume on a particular security in such foreign exchange, the bid price from the primary exchange is generally used to value the security. Securities that are traded on the over-the-counter (“OTC”) markets are generally valued at their closing or latest bid prices as available. Foreign securities and currencies are converted to U.S. dollars using the applicable exchange rate in effect at the close of the New York Stock Exchange (“NYSE”). The Portfolio will determine the market value of individual securities held by it by using prices provided by one or more approved professional pricing services or, as needed, by obtaining market quotations from independent broker-dealers. Most debt securities are valued in accordance with the evaluated bid price supplied by the pricing service that is intended to reflect market value. The evaluated bid price supplied by the pricing service is an evaluation that may consider factors such as security prices, yields, maturities and ratings. Certain short-term securities maturing within 60 days or less may be evaluated and valued on an amortized cost basis provided that the amortized cost determined approximates market value. Securities for which market quotations or evaluated prices are not readily available or deemed unreliable are valued at fair value determined in good faith under the Valuation Procedures. Circumstances in which fair value pricing may be utilized include, but are not limited to: (i) a significant event that may affect the securities of a single issuer, such as a merger, bankruptcy, or significant issuer-specific development; (ii) an event that may affect an entire market, such as a natural disaster or significant governmental action; (iii) a nonsignificant event such as a market closing early or not opening, or a security trading halt; and (iv) pricing of a nonvalued security and a restricted or nonpublic security. Special valuation considerations may apply with respect to “odd-lot” fixed-income transactions which, due to their small size, may receive evaluated prices by pricing services which reflect a large block trade and not what actually could be obtained for the odd-lot position. The Portfolio uses systematic fair valuation models provided by independent third parties to value international equity securities in order to adjust for stale pricing, which may occur between the close of certain foreign exchanges and the close of the NYSE.

Valuation Inputs Summary

FASB ASC 820, Fair Value Measurements and Disclosures (“ASC 820”), defines fair value, establishes a framework for measuring fair value, and expands disclosure requirements regarding fair value measurements. This standard emphasizes that fair value is a market-based measurement that should be determined based on the assumptions that market participants would use in pricing an asset or liability and establishes a hierarchy that prioritizes inputs to valuation techniques used to measure fair value. These inputs are summarized into three broad levels:

Level 1 – Unadjusted quoted prices in active markets the Portfolio has the ability to access for identical assets or liabilities.

Level 2 – Observable inputs other than unadjusted quoted prices included in Level 1 that are observable for the asset or liability either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.

Assets or liabilities categorized as Level 2 in the hierarchy generally include: debt securities fair valued in accordance with the evaluated bid or ask prices supplied by a pricing service; securities traded on OTC markets and listed securities for which no sales are reported that are fair valued at the latest bid price (or yield equivalent thereof) obtained from one or more dealers transacting in a market for such securities or by a pricing service approved by the Portfolio’s Trustees; certain short-term debt securities with maturities of 60 days or less that are fair valued at amortized cost; and equity securities of foreign issuers whose fair value is determined by using systematic fair valuation models provided by independent third parties in order to adjust for stale pricing which may occur between the close of certain foreign exchanges and the close of the NYSE. Other securities that may be categorized as Level 2 in the hierarchy include, but are not limited to, preferred stocks, bank loans, swaps, investments in unregistered investment companies, options, and forward contracts.

Level 3 – Unobservable inputs for the asset or liability to the extent that relevant observable inputs are not available, representing the Portfolio’s own assumptions about the assumptions that a market participant would use in valuing the asset or liability, and that would be based on the best information available.

There have been no significant changes in valuation techniques used in valuing any such positions held by the Portfolio since the beginning of the fiscal year.

The inputs or methodology used for fair valuing securities are not necessarily an indication of the risk associated with investing in those securities. The summary of inputs used as of September 30, 2021 to fair value the Portfolio’s investments in securities and other financial instruments is included in the “Valuation Inputs Summary” in the Notes to Schedule of Investments.

5


For additional information on the Portfolio, please refer to the Portfolio’s most recent semiannual or annual shareholder report.

      
      
      
   

109-35-70317 11-21