Janus Henderson holds 8.58M Biohaven shares (BHVN) — 5.7% stake

Rhea-AI Filing Summary

Janus Henderson Group Ltd. files Amendment No. 2 to Schedule 13G/A reporting beneficial ownership of 8,584,676 common shares of Biohaven Ltd. (BHVN), representing 5.7% of the class as of 06/30/2026. The filing states Janus Henderson and affiliated asset managers exercise shared voting and shared dispositive power over these shares but disclaim rights to dividends or proceeds from sales. The filing identifies the reporting person as Janus Henderson Group Ltd. and provides exhibits for the subsidiary identification and power of attorney.

Key Figures

Beneficial ownership: 8,584,676 shares Percent of class: 5.7% Reporting date: 06/30/2026 +2 more

5 metrics

Beneficial ownership 8,584,676 shares Beneficially owned of Biohaven Ltd. common shares

Percent of class 5.7% Percent of Biohaven common shares as reported

Reporting date 06/30/2026 Date shown on the Schedule 13G/A cover

Sole voting power 0 shares Sole power to vote as reported

Shared voting power 8,584,676 shares Shared power to vote as reported

Key Terms

Schedule 13G/A, Shared Dispositive Power, Beneficial owner, Managed Portfolios, +1 more

5 terms

Schedule 13G/A regulatory

"Amendment No. 2 to Schedule 13G/A reporting beneficial ownership"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

Shared Dispositive Power financial

"Shared power to dispose or to direct the disposition of: 8584676"

Beneficial owner regulatory

"may be deemed to be the beneficial owner of 8,584,676 common shares"

A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.

Managed Portfolios financial

"clients which include investment companies, other investment advisers, institutional separate accounts and retail separate accounts"

Exhibit 99 regulatory

"Exhibit 99: Item 7"

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Available on EDGAR 07/08/2026 - 05:44 PM Accepted by SEC EDGAR 07/08/2026 - 05:44 PM Learn about SEC filing dates

FAQ

What stake does Janus Henderson report in Biohaven (BHVN)?

Janus Henderson reports beneficial ownership of 8,584,676 shares, equal to 5.7% of Biohaven's common stock as of 06/30/2026. The position is held via affiliated asset managers with shared voting and dispositive power.

Does Janus Henderson have sole control over the BHVN shares?

No. The filing shows 0 shares with sole voting or sole dispositive power and 8,584,676 shares with shared voting and dispositive power, indicating control is exercised jointly by affiliated asset managers.

Will Janus Henderson receive dividends or sale proceeds from these BHVN shares?

The filing states the Asset Managers do not have the right to receive dividends or proceeds from sales of the securities held in the Managed Portfolios and disclaim ownership associated with such rights.

What entities hold the Biohaven shares for Janus Henderson?

The shares are held through multiple affiliated investment advisers and foreign equivalents (the Asset Managers), including named subsidiaries such as Janus Henderson Investors US LLC and Janus Henderson Investors (Jersey) Limited among others.

Is the 5.7% figure the filing date or a reporting cutoff?

The filing lists the date 06/30/2026 on the cover; the 5.7% beneficial ownership percentage is presented in the Schedule 13G/A amendment tied to that date.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

BIOHAVEN LTD.

(Name of Issuer)

Common Shares

(Title of Class of Securities)

G1110E107

(CUSIP Number)

06/30/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): G1110E107

1

Names of Reporting Persons

JANUS HENDERSON GROUP Ltd.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

JERSEY

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 8,584,676.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 8,584,676.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

8,584,676.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.7 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: BIOHAVEN LTD.
(b)	Address of issuer's principal executive offices: 215 CHURCH STREET NEW HAVEN, CT 06510
Item 2.
(a)	Name of person filing: Janus Henderson Group Ltd.
(b)	Address or principal business office or, if none, residence: 201 Bishopsgate EC2M 3AE, United Kingdom
(c)	Citizenship: Y9
(d)	Title of class of securities: Common Shares
(e)	CUSIP No.: G1110E107
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: Janus Henderson Group Ltd. (JHG) is the ultimate parent of a number of SEC-registered investment advisers and foreign equivalents thereof, including but not limited to Janus Henderson Investors US LLC, Janus Henderson Investors UK Limited, Janus Henderson Investors Australia Institutional Funds Management Limited, Janus Henderson Investors Middle East Limited, Janus Henderson Investors (Jersey) Limited, Janus Henderson Investors (Japan) Limited, Janus Henderson Investors (Singapore) Limited, Kapstream Capital Pty Limited, Privacore Capital Advisors LLC, Tabula Investment Management Limited, Victory Park Capital Advisors LLC, and Richard Berstein Advisors LLC (each, an Asset Manager and together, the Asset Managers). The Asset Managers generally exercise investment and/or voting discretion on behalf of their clients which include investment companies, other investment advisers, institutional separate accounts and retail separate accounts (collectively referred to herein as Managed Portfolios). As a result of their exercise of investment and/or voting discretion on behalf of the Managed Portfolios, the Asset Managers may be deemed to be the beneficial owner of 8,584,676 common shares of Biohaven Ltd. However, the Asset Managers do not have the right to receive any dividends from, or the proceeds from the sale of, the securities held in the Managed Portfolios and disclaim any ownership associated with such rights.
(b)	Percent of class: 5.7 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 8584676
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 8584676
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. The Managed Portfolios have the right to receive all dividends from, and the proceeds from the sale of, the securities held in their respective accounts. Of the Managed Portfolios, none own more than five percent of the common shares of Biohaven Ltd.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. Please refer to Exhibit 99.
Item 8.	Identification and Classification of Members of the Group.
	If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(J), so indicate under Item 3(j) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group. N/A
Item 9.	Notice of Dissolution of Group.
	Notice of dissolution of a group may be furnished as an exhibit stating the date of the dissolution and that all further filings with respect to transactions in the security reported on will be filed, if required, by members of the group, in their individual capacity. See Item 5. N/A

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

JANUS HENDERSON GROUP Ltd.

Signature:	Kristin Mariani
Name/Title:	Head of North America Compliance
Date:	07/08/2026

Exhibit Information

Exhibit 24: Power of Attorney Exhibit 99: Item 7