Janus Henderson Group PLC

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Janus Henderson Group PLC reported 2,392 stock positions worth $204.0 billion. Its top holding was Microsoft (MSFT) at 7.2% of the portfolio, followed by Nvidia (NVDA, 6.6%) and Amazon.com (AMZN, 3.6%). Compared with Q1 2025, it opened 61 new positions, sold out of 140, added to 607 and reduced 945. The biggest buy was Nvidia (NVDA, shares +4%) and the biggest sale Alphabet Class C (GOOG, shares −29%).

Most Recent 13F
Q1 2026
Location
LONDON, X0
CIK
0001274173
Portfolio Value
$204.0B (Q2 2025)
SEC Filing
0001085146-25-005104 ↗ filed Aug 14, 2025

Holdings Value

0$50.0B$100.0B$150.0B$200.0B$250.0B Q1 2024: $183.3B Q1 2024 Q2 2024: $186.7B Q2 2024 Q3 2024: $195.4B Q3 2024 Q4 2024: $196.7B Q4 2024 Q1 2025: $182.4B Q1 2025 Q2 2025: $204.0B $204.0B Q2 2025 Q3 2025: $219.0B Q3 2025 Q4 2025: $223.3B Q4 2025 Q1 2026: $209.3B Q1 2026

Holdings 2,392 stocks · $204.0B

MSFT Microsoft Corp. 7.17% 29,424,501 $14.6B Add +1.6%
NVDA Nvidia Corp. 6.59% 85,029,341 $13.4B Add +4.3%
AMZN Amazon.com Inc. 3.61% 33,558,843 $7.4B Reduce -1.7%
META Meta Platforms Inc. Class A 2.95% 8,147,436 $6.0B Reduce -3.0%
AVGO Broadcom Inc. 2.94% 21,782,519 $6.0B Add +6.2%
AAPL Apple Inc. 2.84% 28,226,446 $5.8B Reduce -4.7%
GOOG Alphabet Inc. Class C 1.90% 21,871,009 $3.9B Reduce -29.4%
MA Mastercard Inc. Class A 1.72% 6,232,680 $3.5B Reduce -8.2%
LLY Eli Lilly & Co. 1.68% 4,384,862 $3.4B Reduce -3.3%
ORCL Oracle Corp. 1.40% 13,075,248 $2.9B Reduce -8.6%
BKNG Booking Holdings Inc. 0.99% 350,247 $2.0B Add +1.2%
HWM Howmet Aerospace Inc. 0.87% 9,567,979 $1.8B Reduce -14.3%
NFLX Netflix Inc. 0.86% 1,302,627 $1.7B Reduce -4.2%
TSM Taiwan Semiconductor-SP ADR 0.83% 7,450,341 $1.7B Add +5.4%
UNH Unitedhealth Group Inc. 0.75% 4,897,686 $1.5B Reduce -1.7%
FWONK Liberty Media Corp. Class C 0.69% 13,537,529 $1.4B Reduce -5.4%
ARGX Argenx SE - ADR 0.69% 2,565,399 $1.4B Add +19.7%
KLAC KLA Corp. 0.68% 1,553,484 $1.4B Reduce -4.6%
SSNC Ss&c Technologies Holdings 0.67% 16,495,178 $1.4B Add +0.8%
ETN Eaton Corp. PLC 0.65% 3,727,499 $1.3B Add +4.0%
FLEX Flex Ltd. 0.65% 26,482,327 $1.3B Add +0.6%
FERG Ferguson Enterprises Inc. 0.64% 6,031,034 $1.3B Add +8.4%
DASH DoorDash Inc. Class A 0.64% 5,324,978 $1.3B Reduce -7.6%
BSX Boston Scientific Corp. 0.64% 12,157,715 $1.3B Reduce -13.1%
INTU Intuit Inc. 0.63% 1,638,070 $1.3B Add +2.7%
DHR Danaher Corp. 0.63% 6,526,640 $1.3B Add +28.9%
JPM JPMorgan Chase & Co. 0.63% 4,406,500 $1.3B Reduce -1.6%
V Visa Inc. Class A 0.61% 3,501,063 $1.2B Reduce -9.6%
MELI MercadoLibre Inc. 0.60% 470,521 $1.2B Add +4.4%
VRTX Vertex Pharmaceuticals Inc. 0.57% 2,619,534 $1.2B Reduce -4.7%
LPLA LPL Financial Holdings Inc. 0.57% 3,077,677 $1.2B Add +0.4%
DDOG Datadog Inc. Class A 0.55% 8,359,824 $1.1B Add +38.9%
PGR Progressive Corp. 0.54% 4,159,947 $1.1B Reduce -33.9%
MRVL Marvell Technology Inc. 0.54% 14,208,397 $1.1B Add +12.8%
MNST Monster Beverage Corp. 0.54% 17,424,379 $1.1B Reduce -13.5%
AXP American Express Co. 0.53% 3,409,319 $1.1B Reduce -1.5%
GE General Electric filed as GE AEROSPACE 0.52% 4,097,928 $1.1B Add +12.0%
CMG Chipotle Mexican Grill Inc. 0.51% 18,703,709 $1.1B Add +80.2%
APH Amphenol Corp. Class A 0.49% 10,196,188 $1.0B Reduce -0.7%
SPOT Spotify Technology SA 0.48% 1,286,998 $987.3M Add +4.7%
BX Blackstone Inc. 0.47% 6,443,989 $963.9M Add +26.3%
APP AppLovin Corp. Class A 0.47% 2,733,837 $957.1M Add +20.1%
ICE Intercontinental Exchange Inc. 0.45% 4,947,610 $907.7M Reduce -12.6%
TDY Teledyne Technologies Inc. 0.43% 1,708,833 $875.5M Add +0.8%
CDNS Cadence Design SYS Inc. 0.43% 2,815,655 $867.6M Reduce -2.9%
NOW ServiceNow Inc. 0.42% 839,410 $862.8M Add +11.2%
JNJ Johnson & Johnson 0.41% 5,492,525 $838.9M Reduce -26.4%
ON On Semiconductor 0.40% 15,682,922 $821.9M Add +20.2%
AMGN Amgen Inc. 0.39% 2,884,935 $805.5M Add +13.5%
CTVA Corteva Inc. 0.39% 10,624,576 $791.8M Add +1.9%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.38% 6,217,152 $770.9M Add +5.2%
MS Morgan Stanley 0.38% 5,469,124 $770.3M Add +8.5%
HD Home Depot Inc. 0.38% 2,093,309 $767.5M Add +8.8%
ASND Ascendis Pharma A/S 0.37% 4,427,792 $764.4M Reduce -1.3%
BR Broadridge Financial Solutio 0.37% 3,105,674 $754.8M Add +0.7%
ARMK Aramark 0.37% 17,963,599 $752.1M Add +8.7%
TT Trane Technologies PLC 0.37% 1,718,168 $751.5M Add +3.7%
ISRG Intuitive Surgical Inc. 0.37% 1,372,753 $746.0M Add +20.5%
LRCX Lam Research Corp. 0.35% 7,421,772 $722.4M Add +0.4%
DKNG Draftkings Inc. Class A 0.35% 16,756,481 $718.7M Add +11.5%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.35% 5,811,692 $717.7M Reduce -15.0%
ABT Abbott Laboratories 0.35% 5,223,429 $710.4M Reduce -1.5%
ABBV Abbvie Inc. 0.34% 3,783,634 $702.3M Add +1.7%
RVTY Revvity Inc. 0.34% 7,221,721 $698.5M Add +20.5%
MDGL Madrigal Pharmaceuticals Inc. 0.33% 2,191,753 $663.3M Reduce -0.6%
LNT Alliant Energy Corp. 0.32% 10,775,522 $651.6M Reduce -0.8%
GDDY GoDaddy Inc. Class A 0.32% 3,603,735 $648.9M Reduce -27.6%
APG Api Group Corp. 0.32% 12,629,067 $644.5M Add +2.8%
ADSK Autodesk Inc. 0.31% 2,057,693 $637.0M Reduce -8.0%
VST Vistra Corp. 0.31% 3,234,342 $626.8M Reduce -9.3%
WRB WR Berkley Corp. filed as BERKLEY W R CORP 0.29% 8,121,182 $596.7M Reduce -6.5%
DE Deere & Co. 0.29% 1,166,226 $593.0M Reduce -26.3%
NXPI NXP Semiconductors NV 0.29% 2,709,542 $592.0M Add +3.2%
SCHW Schwab (charles) Corp. 0.28% 6,360,756 $580.3M Reduce -6.2%
VRNA Verona Pharma Ltd. 0.28% 6,134,405 $580.1M Add +11.2%
CVX Chevron Corp. 0.28% 4,043,522 $578.9M Add +0.4%
SYK Stryker Corp. 0.28% 1,451,479 $574.2M Reduce -5.5%
WEX Wex Inc. 0.28% 3,870,484 $568.5M Reduce -3.5%
LNTH Lantheus Holdings Inc. 0.28% 6,938,984 $568.0M Add +6.5%
SHOP Shopify Inc. Class A 0.28% 4,916,681 $567.1M Add +18.2%
GS Goldman Sachs Group Inc. 0.27% 778,916 $551.3M Add +2.1%
HLT Hilton Worldwide Holdings Inc. 0.27% 2,063,770 $549.7M Add +12.0%
JEMB JH Em Debt Hard Currency ETF 0.27% 10,546,976 $545.8M Add +137.6%
MCK McKesson Corp. 0.27% 741,629 $543.4M Add +5.6%
HUBS HubSpot Inc. 0.27% 973,265 $541.8M Add +99.6%
DOX Amdocs Ltd. 0.26% 5,795,194 $528.8M Reduce -13.4%
MMM 3M Co. 0.26% 3,435,881 $523.1M Reduce -3.6%
LAMR Lamar Advertising Co. Class A 0.25% 4,271,995 $518.5M Add +9.4%
CLH Clean Harbors Inc. 0.24% 2,153,226 $497.8M Add +0.7%
JBHT Hunt (jb) Transprt SVCS Inc. 0.24% 3,460,080 $496.9M Add +0.6%
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO 0.24% 1,548,291 $495.5M Add +1.2%
TFX Teleflex Inc. 0.24% 4,149,271 $491.1M Reduce -4.1%
COF Capital One Financial Corp. 0.24% 2,302,275 $489.8M Add +0.4%
TMO Thermo Fisher Scientific Inc. 0.24% 1,207,910 $489.8M Add +9.8%
SNPS Synopsys Inc. 0.24% 954,440 $489.3M Reduce -14.3%
GIL Gildan Activewear Inc. 0.24% 9,923,674 $488.6M Add +1.5%
IR Ingersoll-Rand Inc. 0.24% 5,833,448 $485.2M Add +34.4%
GMED Globus Medical Inc. Class A 0.24% 8,206,899 $484.4M Add +17.1%
HCA HCA Healthcare Inc. 0.24% 1,262,590 $483.7M Reduce -6.5%
TMUS T-Mobile US Inc. 0.24% 2,025,029 $482.5M Add +12.4%

Show all 2,392 holdings

Other holdings (8): bonds, preferreds, convertibles and warrants · $44.1M (not counted above)
SecurityClassShares / PrincipalValueChange
SHIFT4 PAYMENTS INC (FOUR 6 05/01/28) 6 SER A CNV PREF 107,500$12.4MNew
QXO INC (QXO 5.5 05/15/28 B) 5.50 DEP PFD 189,550$11.6MNew
NEXTERA ENERGY INC (NEE 7.234 11/01/27) UNIT 11/01/2027 130,000$5.8MNo change
ALBEMARLE CORP (ALB 7.25 03/01/27) 7.25% DEP SHS A 139,900$4.5MReduce -41.7%
PG&E CORP (PCG 6 12/01/27 A) PFD CONV SER A 101,190$3.8MNo change
BOEING CO/THE (BA 6 10/15/27) DEP CONV PFD A 44,020$3.0MNo change
KKR & CO INC (KKR 6.25 03/01/28 D) 6.25 CON SER D 53,300$2.9MReduce -40.8%
GRABW Grab Holdings Ltd.-CW 26 *W EXP 99/99/999 403,754$158KNo change

Total filed on the 13F, all lines: $204.0B.

Portfolio Sells Q1 2025 → Q2 2025

GOOG Alphabet Inc. Class C Reduce -29.4% 1.90% −0.75
AAPL Apple Inc. Reduce -4.7% 2.84% −0.70
UNH Unitedhealth Group Inc. Reduce -1.7% 0.75% −0.66
PGR Progressive Corp. Reduce -33.9% 0.54% −0.42
LLY Eli Lilly & Co. Reduce -3.3% 1.68% −0.37
MA Mastercard Inc. Class A Reduce -8.2% 1.72% −0.30
JNJ Johnson & Johnson Reduce -26.4% 0.41% −0.26
ASML ASML Holding NV-NY Reg SHS Reduce -87.9% 0.04% −0.26
VRTX Vertex Pharmaceuticals Inc. Reduce -4.7% 0.57% −0.17
GDDY GoDaddy Inc. Class A Reduce -27.6% 0.32% −0.17
BABA Alibaba Group Holding-SP ADR Reduce -71.0% 0.05% −0.17
FTV Fortive Corp. Reduce -16.5% 0.17% −0.15
GTLS Chart Industries Inc. Reduce -98.3% 0.00% −0.13
SRPT Sarepta Therapeutics Inc. Reduce -98.8% 0.00% −0.13
BSX Boston Scientific Corp. Reduce -13.1% 0.64% −0.12
MCD McDonald's Corp. Reduce -70.2% 0.04% −0.12
V Visa Inc. Class A Reduce -9.6% 0.61% −0.12
MRK Merck & Co. Inc. Reduce -80.4% 0.02% −0.11
DE Deere & Co. Reduce -26.3% 0.29% −0.11
VZ Verizon Communications Inc. Reduce -53.3% 0.07% −0.11
MNST Monster Beverage Corp. Reduce -13.5% 0.54% −0.10
AVTR Avantor Inc. Reduce -48.2% 0.06% −0.10
ICE Intercontinental Exchange Inc. Reduce -12.6% 0.45% −0.10
TJX TJX Companies Inc. Reduce -15.0% 0.35% −0.09
STZ Constellation Brands Inc. Class A Reduce -30.8% 0.10% −0.09
TFX Teleflex Inc. Reduce -4.1% 0.24% −0.09
ICLR Icon PLC Reduce -45.9% 0.06% −0.09
CME Cme Group Inc. Reduce -27.3% 0.17% −0.08
CRM Salesforce Inc. Reduce -41.7% 0.09% −0.08
WTW Willis Towers Watson PLC Reduce -22.2% 0.13% −0.08
DOX Amdocs Ltd. Reduce -13.4% 0.26% −0.07
VNLA Janus Henderson Short Durati Reduce -96.3% 0.00% −0.07
BAH Booz Allen Hamilton Holdings Reduce -44.5% 0.07% −0.07
MDGL Madrigal Pharmaceuticals Inc. Reduce -0.6% 0.33% −0.07
CRH CRH PLC Reduce -68.9% 0.03% −0.07
UPS United Parcel Service Class B Reduce -92.2% 0.00% −0.06
BHVN Biohaven Ltd. Reduce -21.5% 0.04% −0.06
WEX Wex Inc. Reduce -3.5% 0.28% −0.06
MDT Medtronic PLC Reduce -18.3% 0.16% −0.06
LNT Alliant Energy Corp. Reduce -0.8% 0.32% −0.06
MRSH Marsh & McLennan Cos Reduce -4.5% 0.20% −0.06
GOOGL Alphabet Inc. Class A Reduce -21.6% 0.24% −0.06
PANW Palo Alto Networks Inc. Reduce -51.1% 0.06% −0.06
ORLY O'reilly Automotive Inc. Reduce -15.9% 0.13% −0.05
O Realty Income Corp. Reduce -92.1% 0.00% −0.05
PG The Procter & Gamble Co. Reduce -9.7% 0.16% −0.05
COP Conocophillips Reduce -2.5% 0.16% −0.05
LINE Lineage Inc. Reduce -11.3% 0.07% −0.05
RNAM Avidity Biosciences Inc. Reduce -5.7% 0.15% −0.05
FISV Fiserv Inc. Reduce -49.0% 0.03% −0.05

Portfolio Buys Q1 2025 → Q2 2025

NVDA Nvidia Corp. Add +4.3% 6.59% +1.68
MSFT Microsoft Corp. Add +1.6% 7.17% +1.16
AVGO Broadcom Inc. Add +6.2% 2.94% +1.04
CMG Chipotle Mexican Grill Inc. Add +80.2% 0.51% +0.23
DDOG Datadog Inc. Class A Add +38.9% 0.55% +0.22
BA The Boeing Co. Add +2495.9% 0.23% +0.22
TSM Taiwan Semiconductor-SP ADR Add +5.4% 0.83% +0.19
FLEX Flex Ltd. Add +0.6% 0.65% +0.17
CSGP Costar Group Inc. Add +7520.4% 0.16% +0.16
FERG Ferguson Enterprises Inc. Add +8.4% 0.64% +0.15
JEMB JH Em Debt Hard Currency ETF Add +137.6% 0.27% +0.14
APP AppLovin Corp. Class A Add +20.1% 0.47% +0.13
DB Deutsche Bank AG-Registered Add +400.6% 0.14% +0.12
GE General Electric Add +12.0% 0.52% +0.12
BKNG Booking Holdings Inc. Add +1.2% 0.99% +0.11
ETN Eaton Corp. PLC Add +4.0% 0.65% +0.11
MRVL Marvell Technology Inc. Add +12.8% 0.54% +0.11
ON On Semiconductor Add +20.2% 0.40% +0.11
HUBS HubSpot Inc. Add +99.6% 0.27% +0.11
INTU Intuit Inc. Add +2.7% 0.63% +0.11
SPOT Spotify Technology SA Add +4.7% 0.48% +0.11
MELI MercadoLibre Inc. Add +4.4% 0.60% +0.10
VRNA Verona Pharma Ltd. Add +11.2% 0.28% +0.09
NOW ServiceNow Inc. Add +11.2% 0.42% +0.09
BX Blackstone Inc. Add +26.3% 0.47% +0.09
ECL Ecolab Inc. Add +1580.1% 0.08% +0.08
APG Api Group Corp. Add +2.8% 0.32% +0.07
TEAM Atlassian Corp. Class A Add +740.2% 0.09% +0.07
CCEP Coca-Cola Europacific Partne New 0.07% +0.07
TT Trane Technologies PLC Add +3.7% 0.37% +0.07
VOO Vanguard S&P 500 ETF Add +90.0% 0.14% +0.07
DKNG Draftkings Inc. Class A Add +11.5% 0.35% +0.06
DHR Danaher Corp. Add +28.9% 0.63% +0.06
DIS The Walt Disney Co. Add +5.2% 0.38% +0.06
LRCX Lam Research Corp. Add +0.4% 0.35% +0.06
MS Morgan Stanley Add +8.5% 0.38% +0.06
ARMK Aramark Add +8.7% 0.37% +0.06
ISRG Intuitive Surgical Inc. Add +20.5% 0.37% +0.06
BBIO Bridgebio Pharma Inc. Add +29.4% 0.20% +0.06
FLUT Flutter Entertainment PLC-Di Add +33.5% 0.18% +0.06
SHOP Shopify Inc. Class A Add +18.2% 0.28% +0.06
STRL Sterling Infrastructure Inc. Add +415.4% 0.06% +0.06
ALC Alcon Inc. Add +197.1% 0.09% +0.06
SNOW Snowflake Inc. Add +34.9% 0.12% +0.05
IR Ingersoll-Rand Inc. Add +34.4% 0.24% +0.05
PTC PTC Inc. Add +26.6% 0.23% +0.05
INSM Insmed Inc. Add +48.4% 0.11% +0.05
WING Wingstop Inc. Add +79.3% 0.08% +0.04
GS Goldman Sachs Group Inc. Add +2.1% 0.27% +0.04
HLT Hilton Worldwide Holdings Inc. Add +12.0% 0.27% +0.04

Options Activity Q1 2025 → Q2 2025

AZN Astrazeneca PLC-Spons ADR call Sold out 25,237 $1.9Mbefore exit
O Realty Income Corp. put Sold out 30,087 $1.7Mbefore exit
STLD Steel Dynamics Inc. put Sold out 8,747 $1.1Mbefore exit

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

Notes & Other Activity Q1 2025 → Q2 2025

SHIFT4 PAYMENTS INC (FOUR 6 05/01/28) 6 SER A CNV PREF New 107,500 $12.4M
QXO INC (QXO 5.5 05/15/28 B) 5.50 DEP PFD New 189,550 $11.6M
MICROCHIP TECHNOLOGY INC (MCHP 7.5 03/15/28) DEP SHS REPSTG Sold out 148,350 $7.3Mbefore exit
ALBEMARLE CORP (ALB 7.25 03/01/27) 7.25% DEP SHS A Reduce -41.7% 139,900 $4.5M
KKR & CO INC (KKR 6.25 03/01/28 D) 6.25 CON SER D Reduce -40.8% 53,300 $2.9M
WBXWF Wallbox BV Class A -CW26 *W EXP 10/01/202 Sold out 699,792 $24Kbefore exit

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q1 2026Amended 2,395$209.3BNVDA, MSFT, AAPL, GOOG, AMZN
Q4 2025 2,394$223.3BNVDA, MSFT, AMZN, GOOG, AAPL
Q3 2025 2,388$219.0BNVDA, MSFT, AMZN, AAPL, AVGO
Q2 2025 2,392$204.0BMSFT, NVDA, AMZN, META, AVGO
Q1 2025 2,470$182.4BMSFT, NVDA, AMZN, AAPL, META
Q4 2024 2,519$196.7BMSFT, NVDA, AAPL, AMZN, GOOG
Q3 2024 2,525$195.4BMSFT, NVDA, AAPL, AMZN, META
Q2 2024 2,516$186.7BMSFT, NVDA, AAPL, AMZN, GOOG
Q1 2024 2,525$183.3BMSFT, NVDA, AMZN, META, AAPL