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Janus Henderson Forty Fund points to AI demand amid strong Q2 returns
The fund returned 19.0% in Q2 2026, outpacing the Russell 1000 Growth Index’s 16.7% gain, and highlighted AI computing demand that it says will outstrip supply.
Janus Henderson’s Forty Fund, outlined in its Q2 2025 investor letter update shared by Yahoo Finance, posted a 19.0% return in the second quarter of 2026, beating the Russell 1000 Growth Index’s 16.7% gain, helped by stock selection and a healthcare overweight, according to the report.
The firm attributed market support to resilient economic growth, robust corporate earnings, and easing geopolitical tensions that helped push crude oil below $75 per barrel, while noting the Federal Reserve kept interest rates unchanged because inflation remains elevated.
In the same discussion, the fund said AI-related opportunities remain central to its outlook, adding that demand for AI computing power is expected to exceed supply for the foreseeable future.
The letter also flagged Datadog as an example of AI-linked exposure, citing that one portfolio holding reported revenue growth of more than 30% year over year, and another described an AI-related contracted orders backlog exceeding $550 billion, with Datadog highlighted in its top holdings.
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