Janus Henderson Contrarian Fund
Actively managed U.S. stock fund
As of its 2026 Q2 report, Janus Henderson Contrarian Fund held 45 positions with $5.49B in net assets. Its ten largest holdings made up 46.4% of the fund. The JSVAX share class costs 0.77% a year. Over the 12 months to May 2026, JSVAX returned 31.7%, with dividends reinvested. In 2026 Q2 it added 13 new positions and exited 17.
Janus Henderson Contrarian Fund seeks long-term growth of capital.
The fund pursues long-term capital growth by investing in a portfolio of 35–55 common stocks selected through bottom-up analysis for trading at significant discounts to the manager's estimate of intrinsic value, with expected value growth over time and aligned management teams. The fund is nondiversified, permitting larger positions in individual securities than a diversified fund would hold. Because performance depends on the manager's valuation judgments and the securities selected, results may diverge materially from the broader market. The fund may invest across all market capitalizations and in foreign securities.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
Nebius Group NV | 5.76% | $316.36M | 1.1M | $276.17 |
5.53% | $303.48M | 1.0M | $297.89 | |
TSMTaiwan Semiconductor Manufacturing Co. Ltd. | 5.40% | $296.55M | 621.0K | $477.57 |
Janus Henderson Cash Liquidity Fund LLC | 5.07% | $278.04M | — | — |
4.36% | $238.97M | 970.6K | $246.22 | |
4.35% | $238.84M | 1.2M | $200.62 | |
4.06% | $222.74M | 13.3M | $16.80 | |
4.05% | $222.52M | 535.4K | $415.63 | |
3.98% | $218.30M | 254.4K | $858.06 | |
ORCLOracle Corp. | 3.83% | $210.41M | 1.4M | $146.55 |
Reported price is the fund's own reported value divided by its own reported shares at 2026-06-30 — not a live quote, and not what the fund paid.
All 45 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Stocks | 95.00% |
| Cash & short-term | 5.38% |
| Derivatives | -0.04% |
The outer band is exposure held short — written against the portfolio rather than part of it, which is why it sits outside the ring and why the two are never netted into one figure.
Derivatives are shown at market value, not notional exposure.
By sector
- Information Technology
- 19.0%
- International
- 17.3%
- Health Care
- 16.3%
- Financials
- 15.4%
- 5 other sectors
- 32.0%
- Information Technology
- 19.0%
- International
- 17.3%
- Health Care
- 16.3%
- Financials
- 15.4%
- Industrials
- 14.0%
- Consumer Discretionary
- 6.2%
- Cash
- 5.4%
- Communication Services
- 4.4%
- Utilities
- 2.0%
How it has done
JSVAX share class · total returns with dividends reinvested
Volatility over the last 12 months: 19.73%. Past returns are a record, not a forecast.
Jun 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
The 8 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 0.77% | +31.73% | +56.29% | +55.08% | -13.76% | |
| 0.90% | +31.52% | +55.60% | +54.01% | -13.80% | |
| 1.63% | +30.64% | +52.49% | +48.73% | -14.05% | |
| 0.63% | +31.90% | +56.84% | +56.07% | -13.72% | |
| 1.37% | +30.89% | +53.45% | +50.43% | -13.96% | |
| 1.11% | +31.26% | +54.68% | +52.44% | -13.88% | |
| 0.65% | +31.85% | +56.75% | +55.94% | -13.73% | |
| 0.53% | +32.04% | +57.36% | +56.93% | -13.65% |
These classes hold the same portfolio, so the 8.19pp spread over 5 years is the cost difference between them — roughly 1.64pp a year — not a difference in what they own.
Fees & fund details
Janus Henderson Contrarian Fund is an actively managed U.S. equity fund.
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Features
- Non-diversified
- Expense ratio, by class
- 0.53% – 1.63%· JSVAX 0.77%
- Portfolio turnover
- 52.00% a year · as of 2026 Q1
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
13 new· the largest 8
17 exited· the largest 8
Understand how this fund fits with the rest.
Explore shared holdings, compare funds and follow their businesses with your connected AI:
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