Janus Henderson Mid Cap Value Fund (JDPRX) is an open-end mutual fund that seeks capital appreciation by investing at least 80% of its net assets in equity securities of mid-capitalization companies whose market capitalization falls within the range of the Russell Midcap Value Index at the time of purchase; it employs a defensive value strategy focusing on high-quality companies with strong management, stable balance sheets, durable competitive advantages, and attractive valuations, typically holding 60 to 90 stocks across sectors such as financial services, industrials, consumer cyclical, technology, and real estate. The fund offers Class R shares with a net expense ratio of 1.39%, a minimum initial investment of $2,500, and is available for sale in the United States; top holdings include Casey's General Stores Inc., Alliant Energy Corp., Expand Energy Corp., TransUnion, and Vontier Corp., representing approximately 12% of the portfolio, with total net assets of $2.02 billion. Launched on July 6, 2009, and domiciled in the United States, the fund is managed by Janus Henderson Investors, with co-managers Kevin Preloger (since April 2013) and Justin Tugman (since March 2015); it is subadvised by Perkins Investment Management LLC and benchmarked against the Russell Midcap Value Index. The parent company, Janus Henderson Group plc, formed in 2017 from the merger of Janus Capital Group and Henderson Global Investors, maintains global operations with headquarters in London, United Kingdom, and key U.S. offices in Denver, Colorado. Recent developments include the planned retirement of lead manager Kevin Preloger at year-end 2025, with Justin Tugman continuing as manager; additionally, Janus Henderson Group received a non-binding $46 per share acquisition proposal in October 2025 from Trian Fund Management and General Catalyst, prompting formation of a special committee to evaluate the offer, and earlier in 2025 announced a strategic partnership with Guardian Life Insurance Company to manage $45-46.5 billion in investment-grade fixed income assets plus up to $400 million in seed capital for fixed income products. In 2024, Janus Henderson bolstered its private credit capabilities through acquisition of a majority stake in Victory Park Capital Advisors.