John Hancock
Disciplined Value Fund
Quarterly portfolio holdings 12/31/19
![](https://capedge.com/proxy/NPORT-P/0001145549-20-007016/img1c54d2671.gif)
Fund’s investments |
As of 12-31-19 (unaudited)
Shares | Value | ||||
Common stocks 98.3% | $15,072,240,636 | ||||
(Cost $12,249,854,351) | |||||
Communication services 9.2% | 1,414,554,919 | ||||
Diversified telecommunication services 2.4% | |||||
Verizon Communications, Inc. | 5,922,676 | 363,652,306 | |||
Interactive media and services 2.2% | |||||
Alphabet, Inc., Class A (A) | 254,849 | 341,342,202 | |||
Media 4.6% | |||||
Altice USA, Inc., Class A (A) | 2,464,616 | 67,382,601 | |||
Comcast Corp., Class A | 8,083,749 | 363,526,193 | |||
Discovery, Inc., Series A (A)(B) | 2,322,640 | 76,043,234 | |||
Fox Corp., Class A | 5,465,562 | 202,608,383 | |||
Consumer discretionary 7.1% | 1,079,648,788 | ||||
Hotels, restaurants and leisure 1.6% | |||||
Las Vegas Sands Corp. | 2,692,520 | 185,891,581 | |||
Wyndham Destinations, Inc. | 1,180,338 | 61,011,671 | |||
Household durables 2.3% | |||||
Lennar Corp., A Shares | 2,148,499 | 119,864,759 | |||
Mohawk Industries, Inc. (A)(B) | 669,252 | 91,272,588 | |||
Toll Brothers, Inc. | 1,730,535 | 68,373,438 | |||
Whirlpool Corp. | 517,852 | 76,398,706 | |||
Internet and direct marketing retail 0.5% | |||||
Booking Holdings, Inc. (A) | 32,356 | 66,450,488 | |||
Specialty retail 2.3% | |||||
AutoZone, Inc. (A) | 197,085 | 234,789,331 | |||
Best Buy Company, Inc. | 1,255,204 | 110,206,911 | |||
Textiles, apparel and luxury goods 0.4% | |||||
PVH Corp. | 621,867 | 65,389,315 | |||
Consumer staples 3.8% | 576,888,426 | ||||
Food products 1.2% | |||||
Mondelez International, Inc., Class A | 2,079,738 | 114,551,969 | |||
Tyson Foods, Inc., Class A | 773,196 | 70,391,764 | |||
Household products 2.6% | |||||
The Procter & Gamble Company | 3,138,068 | 391,944,693 | |||
Energy 9.4% | 1,446,512,442 | ||||
Oil, gas and consumable fuels 9.4% | |||||
Cimarex Energy Company | 2,423,353 | 127,201,799 | |||
ConocoPhillips | 4,685,978 | 304,729,149 | |||
Marathon Petroleum Corp. | 5,017,120 | 302,281,480 | |||
Noble Energy, Inc. | 6,809,523 | 169,148,551 | |||
TOTAL SA, ADR | 4,266,330 | 235,928,049 | |||
Valero Energy Corp. | 3,280,549 | 307,223,414 | |||
Financials 26.6% | 4,082,686,856 | ||||
Banks 14.9% | |||||
Bank of America Corp. | 19,725,583 | 694,735,033 | |||
Citigroup, Inc. | 5,124,969 | 409,433,773 | |||
ING Groep NV, ADR (B) | 9,671,561 | 116,542,310 | |||
JPMorgan Chase & Co. | 3,887,949 | 541,980,091 | |||
Truist Financial Corp. | 2,272,723 | 127,999,759 |
2 | JOHN HANCOCK DISCIPLINED VALUE FUND | QUARTERLY REPORT | SEE NOTES TO FUND'S INVESTMENTS |
Shares | Value | ||||
Financials (continued) | |||||
Banks (continued) | |||||
Wells Fargo & Company | 7,380,604 | $397,076,495 | |||
Consumer finance 0.6% | |||||
Discover Financial Services | 1,102,921 | 93,549,759 | |||
Diversified financial services 4.6% | |||||
Berkshire Hathaway, Inc., Class B (A) | 3,091,886 | 700,312,182 | |||
Insurance 6.5% | |||||
American International Group, Inc. | 5,674,353 | 291,264,539 | |||
Aon PLC | 257,078 | 53,546,777 | |||
Chubb, Ltd. | 2,274,065 | 353,980,958 | |||
Everest Re Group, Ltd. | 562,972 | 155,853,168 | |||
The Travelers Companies, Inc. | 1,069,091 | 146,412,012 | |||
Health care 17.7% | 2,709,032,948 | ||||
Biotechnology 0.9% | |||||
Biogen, Inc. (A) | 447,864 | 132,894,685 | |||
Health care equipment and supplies 3.0% | |||||
Medtronic PLC | 2,756,040 | 312,672,738 | |||
Zimmer Biomet Holdings, Inc. | 1,014,977 | 151,921,757 | |||
Health care providers and services 10.3% | |||||
Anthem, Inc. | 766,759 | 231,584,221 | |||
Cigna Corp. | 1,829,991 | 374,214,860 | |||
CVS Health Corp. | 2,732,738 | 203,015,106 | |||
Humana, Inc. | 356,410 | 130,631,393 | |||
McKesson Corp. | 1,185,391 | 163,963,283 | |||
Quest Diagnostics, Inc. | 958,617 | 102,370,709 | |||
UnitedHealth Group, Inc. | 839,298 | 246,736,826 | |||
Universal Health Services, Inc., Class B | 876,146 | 125,691,905 | |||
Pharmaceuticals 3.5% | |||||
GlaxoSmithKline PLC, ADR | 3,376,884 | 158,679,779 | |||
Novo Nordisk A/S, ADR | 1,015,960 | 58,803,765 | |||
Pfizer, Inc. | 8,061,560 | 315,851,921 | |||
Industrials 9.9% | 1,510,599,839 | ||||
Aerospace and defense 2.3% | |||||
United Technologies Corp. | 2,309,860 | 345,924,634 | |||
Air freight and logistics 2.1% | |||||
C.H. Robinson Worldwide, Inc. | 858,178 | 67,109,520 | |||
United Parcel Service, Inc., Class B | 2,175,522 | 254,666,605 | |||
Airlines 0.7% | |||||
Southwest Airlines Company | 2,054,589 | 110,906,714 | |||
Building products 0.8% | |||||
Owens Corning | 1,759,663 | 114,589,255 | |||
Electrical equipment 0.8% | |||||
Eaton Corp. PLC | 1,341,881 | 127,102,968 | |||
Machinery 1.1% | |||||
Dover Corp. | 1,430,204 | 164,845,313 | |||
Road and rail 2.1% | |||||
Kansas City Southern | 1,274,739 | 195,239,025 | |||
Union Pacific Corp. | 720,260 | 130,215,805 |
SEE NOTES TO FUND'S INVESTMENTS | QUARTERLY REPORT | JOHN HANCOCK DISCIPLINED VALUE FUND | 3 |
Shares | Value | ||||
Information technology 6.7% | $1,029,708,875 | ||||
Semiconductors and semiconductor equipment 4.4% | |||||
KLA Corp. | 778,446 | 138,695,724 | |||
Lam Research Corp. | 503,223 | 147,142,405 | |||
Micron Technology, Inc. (A) | 3,642,261 | 195,880,797 | |||
NXP Semiconductors NV | 1,529,169 | 194,602,047 | |||
Software 2.3% | |||||
Microsoft Corp. | 588,098 | 92,743,055 | |||
NortonLifeLock, Inc. | 4,426,846 | 112,973,110 | |||
Oracle Corp. | 2,787,311 | 147,671,737 | |||
Materials 6.0% | 924,671,474 | ||||
Chemicals 3.4% | |||||
Corteva, Inc. | 3,819,527 | 112,905,218 | |||
DuPont de Nemours, Inc. | 3,421,190 | 219,640,398 | |||
FMC Corp. | 912,886 | 91,124,281 | |||
The Mosaic Company | 4,704,278 | 101,800,576 | |||
Construction materials 1.1% | |||||
CRH PLC, ADR | 4,110,583 | 165,779,812 | |||
Metals and mining 1.5% | |||||
Barrick Gold Corp. | 12,556,277 | 233,421,189 | |||
Real estate 0.6% | 94,882,503 | ||||
Equity real estate investment trusts 0.6% | |||||
Equity Residential | 1,172,547 | 94,882,503 | |||
Utilities 1.3% | 203,053,566 | ||||
Electric utilities 1.3% | |||||
Edison International | 2,692,661 | 203,053,566 | |||
Yield (%) | Shares | Value | |||
Short-term investments 2.0% | $312,491,341 | ||||
(Cost $312,491,083) | |||||
Short-term funds 2.0% | 312,491,341 | ||||
John Hancock Collateral Trust (C) | 1.7338(D) | 1,011,708 | 10,122,844 | ||
State Street Institutional U.S. Government Money Market Fund, Premier Class | 1.5340(D) | 302,368,497 | 302,368,497 |
Total investments (Cost $12,562,345,434) 100.3% | $15,384,731,977 | ||||
Other assets and liabilities, net (0.3%) | (48,056,705) | ||||
Total net assets 100.0% | $15,336,675,272 |
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund. | |
Security Abbreviations and Legend | |
ADR | American Depositary Receipt |
(A) | Non-income producing security. |
(B) | All or a portion of this security is on loan as of 12-31-19. The value of securities on loan amounted to $9,924,947. |
(C) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |
(D) | The rate shown is the annualized seven-day yield as of 12-31-19. |
The fund had the following country composition as a percentage of net assets on 12-31-19:
United States | 86.7% |
Ireland | 3.1% |
Switzerland | 2.3% |
Netherlands | 2.0% |
4 | JOHN HANCOCK DISCIPLINED VALUE FUND | QUARTERLY REPORT | SEE NOTES TO FUND'S INVESTMENTS |
France | 1.6% |
Canada | 1.5% |
United Kingdom | 1.4% |
Bermuda | 1.0% |
Other countries | 0.4% |
TOTAL | 100.0% |
SEE NOTES TO FUND'S INVESTMENTS | QUARTERLY REPORT | JOHN HANCOCK DISCIPLINED VALUE FUND | 5 |
Notes to Fund's investments (unaudited) |
Security valuation. Investments are stated at value as of the scheduled close of regular trading on the New York Stock Exchange (NYSE), normally at 4:00 P.M., Eastern Time. In case of emergency or other disruption resulting in the NYSE not opening for trading or the NYSE closing at a time other than the regularly scheduled close, the net asset value (NAV) may be determined as of the regularly scheduled close of the NYSE pursuant to the fund's Valuation Policies and Procedures.
In order to value the securities, the fund uses the following valuation techniques: Equity securities, including exchange-traded or closed-end funds, are typically valued at the last sale price or official closing price on the exchange or principal market where the security trades. In the event there were no sales during the day or closing prices are not available, the securities are valued using the last available bid price. Investments by the fund in open-end mutual funds, including John Hancock Collateral Trust (JHCT), are valued at their respective NAVs each business day.
In certain instances, the Pricing Committee may determine to value equity securities using prices obtained from another exchange or market if trading on the exchange or market on which prices are typically obtained did not open for trading as scheduled, or if trading closed earlier than scheduled, and trading occurred as normal on another exchange or market.
Other portfolio securities and assets, for which reliable market quotations are not readily available, are valued at fair value as determined in good faith by the fund's Pricing Committee following procedures established by the Board of Trustees. The frequency with which these fair valuation procedures are used cannot be predicted and fair value of securities may differ significantly from the value that would have been used had a ready market for such securities existed.
The fund uses a three-tier hierarchy to prioritize the pricing assumptions, referred to as inputs, used in valuation techniques to measure fair value. Level 1 includes securities valued using quoted prices in active markets for identical securities, including registered investment companies. Level 2 includes securities valued using other significant observable inputs. Observable inputs may include quoted prices for similar securities, interest rates, prepayment speeds and credit risk. Prices for securities valued using these inputs are received from independent pricing vendors and brokers and are based on an evaluation of the inputs described. Level 3 includes securities valued using significant unobservable inputs when market prices are not readily available or reliable, including the fund's own assumptions in determining the fair value of investments. Factors used in determining value may include market or issuer specific events or trends, changes in interest rates and credit quality. The inputs or methodology used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. Changes in valuation techniques and related inputs may result in transfers into or out of an assigned level within the disclosure hierarchy.
As of December 31, 2019, all investments are categorized as Level 1 under the hierarchy described above.
Investment in affiliated underlying funds. The fund may invest in affiliated underlying funds that are managed by the Advisor and its affiliates. Information regarding the fund's fiscal year to date purchases and sales of the affiliated underlying funds as well as income and capital gains earned by the fund, if any, is as follows:
Dividends and distributions | |||||||||
Affiliate | Ending share amount | Beginning value | Cost of purchases | Proceeds from shares sold | Realized gain (loss) | Change in unrealized appreciation (depreciation) | Income distributions received | Capital gain distributions received | Ending value |
John Hancock Collateral Trust | 1,011,708 | $66,309,596 | $659,693,088 | $(715,869,208) | $(11,234) | $602 | $46,410 | — | $10,122,844 |
For additional information on the fund's significant accounting policies and risks, please refer to the fund's most recent semiannual or annual shareholder report and prospectus.
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