Janus Henderson Forty Fund
Actively managed U.S. stock fund
As of its 2026 Q2 report, Janus Henderson Forty Fund held 34 positions with $23.80B in net assets. Its ten largest holdings made up 57.4% of the fund. The JDCAX share class costs 0.88% a year. Over the 12 months to May 2026, JDCAX returned 26.6%, with dividends reinvested. In 2026 Q2 it added 6 new positions and exited 6.
Janus Henderson Forty Fund seeks long-term growth of capital.
The fund pursues long-term capital growth by selecting 30–40 common stocks through bottom-up fundamental research, focusing on sustainable competitive advantages, long-term growth potential, and shareholder value creation across companies of any size, with a primary emphasis on larger, well-established firms and potential foreign securities. Because the fund is classified as nondiversified, it may hold larger positions in individual securities than a diversified fund would permit, concentrating its portfolio accordingly. The fund's returns depend on the success of its security selections and the performance of the positions it holds.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
NVDANVIDIA Corp. | 12.74% | $3.03B | 15.2M | $200.09 |
GOOGAlphabet, Inc. | 7.42% | $1.77B | 5.0M | $353.33 |
AMZNAmazon.com, Inc. | 6.91% | $1.64B | 6.9M | $238.34 |
TSMTaiwan Semiconductor Manufacturing Co. Ltd. | 6.57% | $1.56B | 3.3M | $477.57 |
AVGOBroadcom, Inc. | 6.00% | $1.43B | 3.8M | $377.75 |
Eaton Corp. plc | 4.00% | $951.12M | 2.2M | $426.12 |
3.58% | $852.20M | 3.2M | $268.86 | |
3.45% | $821.55M | 685.0K | $1,199.43 | |
ORCLOracle Corp. | 3.42% | $813.37M | 5.6M | $146.55 |
DDOGDatadog, Inc. | 3.37% | $800.91M | 3.1M | $260.36 |
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 34 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 | 99.97% |
| Cash & short-term | 0.09% |
By sector
- Information Technology
- 40.8%
- Consumer Discretionary
- 12.6%
- International
- 12.6%
- Health Care
- 11.1%
- 4 other sectors
- 22.9%
- Information Technology
- 40.8%
- Consumer Discretionary
- 12.6%
- International
- 12.6%
- Health Care
- 11.1%
- Communication Services
- 10.5%
- Industrials
- 9.6%
- Financials
- 2.6%
- Cash
- 0.1%
How it has done
JDCAX share class · total returns with dividends reinvested
Volatility over the last 12 months: 20.31%. 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 |
|---|---|---|---|---|---|
| 0.88% | +26.63% | +78.42% | +72.86% | -14.25% | |
| 1.64% | +25.84% | +74.98% | +67.23% | -14.44% | |
| 0.64% | +26.93% | +79.67% | +74.92% | -14.16% | |
| 1.31% | +26.11% | +76.24% | +69.32% | -14.38% | |
| 1.05% | +26.40% | +77.52% | +71.32% | -14.30% | |
| 0.80% | +26.74% | +78.94% | +73.65% | -14.20% | |
| 0.56% | +27.05% | +80.13% | +75.61% | -14.12% | |
| 0.67% | +26.89% | +79.59% | +74.64% | -14.18% |
These classes hold the same portfolio, so the 8.38pp spread over 5 years is the cost difference between them — roughly 1.68pp a year — not a difference in what they own.
Fees & fund details
Janus Henderson Forty Fund is an actively managed U.S. equity fund. 42% of JDCAX’s stock holdings are in companies whose revenue grew in the top quartile of U.S. companies over the last five fiscal years (covering 83% of the fund’s equity).
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Features
- Non-diversified
- Expense ratio, by class
- 0.56% – 1.64%· JDCAX 0.88%
- Portfolio turnover
- 33.00% a year · as of 2026 Q1
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.
6 new
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