Janus Henderson Forty Fund Sold Marvell Technology (MRVL) Due to Lack of Earnings Visibility

Group 1: Fund Performance - Janus Henderson Forty Fund reported an 8.38% return in Q3 2025, underperforming the Russell 1000 Growth Index, which returned 10.51% [1] - Stock selection in the healthcare sector positively impacted the fund's performance, while the consumer discretionary sector negatively affected it [1] Group 2: Marvell Technology, Inc. Overview - Marvell Technology, Inc. (NASDAQ:MRVL) had a one-month return of 3.45% but experienced a 25.95% decline over the past 52 weeks, closing at $89.43 per share with a market capitalization of $77.098 billion on December 11, 2025 [2] - Marvell's revenue for Q3 2026 was reported at $2.075 billion, showing a 3% sequential increase and a 37% year-over-year growth [4] Group 3: Performance Analysis of Marvell Technology, Inc. - Marvell was noted as a detractor from the fund's relative performance due to weaker-than-expected data center revenues, despite overall revenue and earnings growth meeting expectations [3] - The company indicated a near-term slowdown in sales of custom application-specific integrated circuits, leading to the decision to exit the position due to lack of earnings visibility [3]