<CONFORMED-NAME>ADVISORY BOARD CO
<STREET1>2445 M STREET, NW
<STREET1>2445 M STREET, NW
<CONFORMED-NAME>JANUS CAPITAL MANAGEMENT LLC
<STREET1>151 DETROIT ST.
<STREET1>151 DETROIT ST.
<FORMER-CONFORMED-NAME>JANUS CAPITAL GROUP INC
<FORMER-CONFORMED-NAME>JANUS CAPITAL MANAGEMENT LLC
<FORMER-CONFORMED-NAME>JANUS CAPITAL CORP
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549
Under the Securities Exchange Act of 1934
Amendment No.: *
Name of Issuer: THE ADVISORY BOARD COMPANY
Title of Class of Securities: Common Stock
CUSIP Number: 00762W107
Date of Event Which Requires Filing of this Statement: 12/31/2016
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed.
[X] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d)
* The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class
of securities, and for any subsequent amendment containing information
which would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not
be deemed to be "filed" for the purpose of Section 18 of the Securities
Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of
that section of the Act but shall be subject to all other provisions of
the Act (however, see the Notes).
CUSIP No.: 00762W107
1. NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE
PERSON Janus Capital Management LLC EIN #75-3019302
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP a. ___ b. ___
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION Delaware
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH:
5. SOLE VOTING POWER 2,471,724**
6. SHARED VOTING POWER 0**
7. SOLE DISPOSITIVE POWER 2,471,724**
8. SHARED DISPOSITIVE POWER 0**
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 6.2%**
12. TYPE OF REPORTING PERSON IA, HC
** See Item 4 of this filing
(a). Name of Issuer: The Advisory Board Company ("Advisory Board")
(b). Address of Issuer's Principal Executive Offices:
2445 M Street, NW Washington, D.C. 20037
(a).-(c). Name, Principal Business Address, and Citizenship of Persons
(1) Janus Capital Management LLC ("Janus Capital") 151 Detroit Street
Denver, Colorado 80206 Citizenship: Delaware
(d). Title of Class of Securities: Common Stock
(e). CUSIP Number: 00762W107
This statement is filed pursuant to Rule 13d-1 (b) or 13d-2(b) and the
person filing, Janus Capital, is an investment adviser in accordance
with Section 240.13d-1(b)(ii)(E) as well as a parent holding
company/control person in accordance with Section 240.13d-1(b)(ii)(G).
See Item 4 for additional information.
Item 4. Ownership
The information in items 1 and 5 through 11 on the cover page(s) on
Schedule 13G is hereby incorporated by reference.
Janus Capital has a direct 97.11% ownership stake in INTECH Investment
Management ("INTECH") and a direct 100% ownership stake in Perkins
Investment Management LLC ("Perkins"). Due to the above ownership
structure, holdings for Janus Capital, Perkins and INTECH are aggregated
for purposes of this filing. Janus Capital, Perkins and INTECH are
registered investment advisers, each furnishing investment advice to
various investment companies registered under Section 8 of the
Investment Company Act of 1940 and to individual and institutional
clients (collectively referred to herein as "Managed Portfolios").
As a result of its role as investment adviser or sub-adviser to the
Managed Portfolios, Janus Capital may be deemed to be the beneficial
owner of 2,471,724 shares or 6.2% of the shares outstanding of Advisory
Board Common Stock held by such Managed Portfolios. However, Janus
Capital does not have the right to receive any dividends from, or the
proceeds from the sale of, the securities held in the Managed Portfolios
and disclaims any ownership associated with such rights.
Item 5. Ownership of Five Percent or Less of a Class
Item 6. Ownership of More than Five Percent on Behalf of Another Person
The Managed Portfolios, set forth in Item 4 above, have the right to
receive all dividends from, and the proceeds from the sale of, the
securities held in their respective accounts.
The interest of any one such person does not exceed 5% of the class of
These shares were acquired in the ordinary course of business, and not
with the purpose of changing or influencing control of the Issuer.
Item 7. Identification and Classification of the Subsidiary Which
Acquired the Security Being Reported on by the Parent Holding Company
Item 8. Identification and Classification of Members of the Group
Item 9. Notice of Dissolution of Group
Item 10. Certification
By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were acquired in the ordinary course of
business and were not acquired for the purpose of and do not have the
effect of changing or influencing the control of the issuer of such
securities and were not acquired in connection with or as a participant
in any transaction having such purposes or effect.
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 CAPITAL MANAGEMENT LLC
By /s/ David R. Kowalski
David R. Kowalski,
Senior Vice President and CCO