Janus Henderson Balanced Portfolio
Data updated: 2026-08-26
C000028716 — Janus Henderson Balanced Portfolio. Balanced Allocation · $9.15B AUM · 0.87% expense ratio. Holdings, fees, performance and SEC filings.
C000028716 Fund Overview
Janus Henderson Balanced Portfolio is a US mutual fund managed by Janus Aspen Series, categorised as Balanced Allocation. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Janus Aspen Series
- Category: Balanced Allocation
- Assets under management: $9.15B
- 1-year return: 10.7%
- SEC CIK: 0000906185
- SEC series ID: S000010394
- Share class ID: C000028716
C000028716 Investment Objective and Strategy
Janus Henderson Balanced Portfolio describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Janus Aspen Series.
Investment objective
Janus Henderson Balanced Portfolio (Balanced Portfolio) seeks long-term capital growth, consistent with preservation of capital and balanced by current income.
Principal investment strategy
The Portfolio pursues its investment objective by normally investing 35-70% of its assets in equity securities and the remaining assets in fixed-income securities and cash equivalents. The Portfolio normally invests at least 25% of its assets in fixed-income senior securities. As of December 31, 2025, approximately 64.48% of the Portfolios assets were held in equity securities, including common stocks, and 35.52% of the Portfolios assets were held in fixed-income securities and cash equivalents. The Portfolios equity investments include, but are not limited to, common stocks and other securities with equity characteristics. The Portfolios fixed-income investments include, but are not limited to, government notes and bonds, corporate bonds, commercial and residential mortgage-backed securities, and asset-backed securities.
The Portfolio may also invest in money market instruments. The Portfolio may invest in fixed and floating rate obligations with varying durations. The Portfolio will limit its investments in high-yield bonds (also known as junk bonds) to 35% of the fixed-income portion of its net assets. The Portfolio may enter into to be announced or TBA commitments when purchasing mortgage-backed securities or other securities. The Portfolio also invests in securities that have contractual restrictions that prohibit or limit their public resale, which may include Rule 144A securities. The Portfolio may also invest its assets in derivatives, which are instruments that have a value derived from, or directly linked to, an underlying asset, such as fixed-income securities, currencies, interest rates, or market indices.
In particular, the Portfolio may use index credit default swaps for hedging purposes (to offset risks associated with an investment exposure or market conditions), to increase or decrease the Portfolios exposure to a particular market, to manage or adjust the risk profile of the Portfolio relative to its benchmark index, and to earn income, enhance returns, or preserve capital. The Portfolios exposure to derivatives will vary and may include derivatives that have characteristics similar to the securities in which the Portfolio may directly invest. The Portfolio may take short positions on derivatives instruments. In choosing equity investments, portfolio management applies a bottom-up approach. In other words, equity portfolio management looks at companies one at a time to determine if a company is an attractive investment opportunity and if it is consistent with the Portfolios investment policies.
Factors that equity portfolio management will consider in its fundamental analysis include a companys revenue growth potential, returns on capital, and balance sheet flexibility. Equity portfolio management will generally consider selling a security when, among other things, it reaches or exceeds its targeted value, the investment thesis for owning the position has changed, or to rebalance industry or sector weightings. In choosing fixed-income investments, portfolio managements investment process is research-driven, incorporating top-down and bottom-up factors to identify and manage exposure to risks across sectors, industries, and individual investments. Fixed-income portfolio management evaluates expected risk-adjusted returns on a portfolio and position level by analyzing fundamentals, valuations, and market technical indicators.
This research encompasses both traditional fundamental analysis and data driven quantitative models and signals from such models. As part of its investment process, portfolio management considers environmental, social, and governance (ESG) risks and opportunities (ESG Factors) that it believes are financially material, alongside other fundamental investment factors. Examples of potential financially material ESG Factors include: corporate governance, company culture, exposure to climate change, and human capital management. To assess ESG Factors, portfolio management uses issuer reports, third-party data, and internally-generated analyses and may engage directly with issuers. ESG Factors are one of many considerations in the investment decision-making process, may not be determinative in deciding to include or exclude an investment from the portfolio, and may not be considered for every investment decision.
The Portfolio may seek to earn additional income through lending its securities to certain qualified broker-dealers and institutions in an amount equal to up to one-third of its total assets as determined at the time of the loan origination.
C000028716 Holdings
Top 10 holdings of Janus Henderson Balanced Portfolio by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| NVIDIA Corp. | 5.67% |
| Alphabet, Inc. | 4.45% |
| Microsoft Corp. | 3.40% |
| Amazon.com, Inc. | 3.11% |
| Apple, Inc. | 2.79% |
| Janus Henderson Cash Liquidity Fund LLC | 2.52% |
| Broadcom, Inc. | 2.49% |
| Micron Technology, Inc. | 2.20% |
| Lam Research Corp. | 1.78% |
| United States of America | 1.65% |
C000028716 Portfolio Allocation
Asset-class allocation of Janus Henderson Balanced Portfolio by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 65.1% |
| Securitized | 18.2% |
| Fixed Income | 14.8% |
| Cash & Equivalents | 2.6% |
| Loans | 1.0% |
C000028716 Performance
Total returns for C000028716 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 3.9% |
| 1 year | 10.7% |
| 3 years (annualised) | 13.2% |
| 5 years (annualised) | 7.3% |
C000028716 Risk Information
Risk metrics for C000028716, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 8.8%
C000028716 Costs and Fees
C000028716 costs about $87 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.87%
- Gross expense ratio: 0.87%
- Portfolio turnover: 79%
- Brokerage commissions: 0.85 bps of average net assets (SEC N-CEN)
C000028716 Cashflows
Over the 12 months to 2026-06, Janus Henderson Balanced Portfolio had net outflows of $277.40M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | $642.62M |
| 2026-05 | −$129.95M |
| 2026-04 | −$98.15M |
| 2026-03 | −$106.92M |
| 2026-02 | −$96.60M |
| 2026-01 | −$83.07M |
C000028716 Debt Constituents
Largest debt holdings of Janus Henderson Balanced Portfolio by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| United States of America | 1.65% |
| United States of America | 1.25% |
| United States of America | 1.20% |
| United States of America | 0.85% |
| United States of America | 0.76% |
| United States of America | 0.74% |
| Bank of America Corp. | 0.18% |
| Big Sky Funding LLC | 0.17% |
| United States of America | 0.16% |
| Rocket Cos., Inc. | 0.16% |
C000028716 Prospectus and SEC Filings
Official Janus Henderson Balanced Portfolio filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-04-30
- Prospectus (485BPOS) — filed 2025-04-30
- Prospectus (485BPOS) — filed 2024-04-29
- Portfolio holdings (N-PORT) — filed 2026-08-26
- Portfolio holdings (N-PORT) — filed 2026-05-29
- Portfolio holdings (N-PORT) — filed 2026-02-27
- Annual census (N-CEN) — filed 2026-03-16
- Annual census (N-CEN) — filed 2025-03-14
Related Funds
Other Balanced Allocation funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.