John Hancock
Disciplined Value Fund
Quarterly portfolio holdings 6/30/2020
Fund’s investments |
As of 6-30-20
(unaudited)
Shares | Value | ||||
Common stocks 97.7% | $11,534,471,745 | ||||
(Cost $10,837,802,277) | |||||
Communication services 4.4% | 515,746,742 | ||||
Interactive media and services 3.3% | |||||
Alphabet, Inc., Class A (A) | 198,902 | 282,052,981 | |||
Facebook, Inc., Class A (A) | 488,407 | 110,902,577 | |||
Wireless telecommunication services 1.1% | |||||
T-Mobile US, Inc. (A)(B) | 1,178,984 | 122,791,184 | |||
Consumer discretionary 9.0% | 1,063,016,510 | ||||
Auto components 0.3% | |||||
Lear Corp. | 355,876 | 38,797,602 | |||
Automobiles 0.2% | |||||
Harley-Davidson, Inc. (B) | 1,192,973 | 28,356,968 | |||
Hotels, restaurants and leisure 0.3% | |||||
Wyndham Hotels & Resorts, Inc. (B) | 736,891 | 31,406,294 | |||
Household durables 1.6% | |||||
Lennar Corp., A Shares | 1,446,518 | 89,134,439 | |||
Mohawk Industries, Inc. (A)(B) | 949,825 | 96,654,192 | |||
Specialty retail 5.8% | |||||
AutoZone, Inc. (A)(B) | 215,302 | 242,886,492 | |||
Best Buy Company, Inc. | 1,987,221 | 173,424,777 | |||
Foot Locker, Inc. (B) | 1,281,167 | 37,358,830 | |||
Lowe's Companies, Inc. | 721,254 | 97,455,840 | |||
The TJX Companies, Inc. | 1,803,408 | 91,180,308 | |||
Williams-Sonoma, Inc. (B) | 570,308 | 46,770,959 | |||
Textiles, apparel and luxury goods 0.8% | |||||
Ralph Lauren Corp. (B) | 618,873 | 44,880,670 | |||
Tapestry, Inc. | 3,366,652 | 44,709,139 | |||
Consumer staples 2.5% | 295,956,005 | ||||
Beverages 0.4% | |||||
Coca-Cola European Partners PLC | 1,298,963 | 49,048,843 | |||
Food and staples retailing 1.1% | |||||
The Kroger Company | 3,939,375 | 133,347,844 | |||
Household products 1.0% | |||||
Kimberly-Clark Corp. | 803,391 | 113,559,318 | |||
Energy 4.3% | 509,388,584 | ||||
Oil, gas and consumable fuels 4.3% | |||||
ConocoPhillips | 2,988,984 | 125,597,108 | |||
Marathon Petroleum Corp. | 4,381,191 | 163,768,920 | |||
Royal Dutch Shell PLC, ADR, Class A (B) | 1,513,195 | 49,466,345 | |||
TOTAL SA, ADR | 1,430,974 | 55,035,260 | |||
Valero Energy Corp. | 1,963,974 | 115,520,951 | |||
Financials 22.4% | 2,645,353,883 | ||||
Banks 9.7% | |||||
Bank of America Corp. | 12,738,978 | 302,550,728 | |||
Citigroup, Inc. | 2,628,466 | 134,314,613 | |||
Fifth Third Bancorp | 1,822,558 | 35,138,918 | |||
Huntington Bancshares, Inc. | 8,035,403 | 72,599,866 | |||
JPMorgan Chase & Co. | 4,036,828 | 379,704,042 |
2 | JOHN HANCOCK DISCIPLINED VALUE FUND | QUARTERLY REPORT | SEE NOTES TO FUND'S INVESTMENTS |
Shares | Value | ||||
Financials (continued) | |||||
Banks (continued) | |||||
KeyCorp | 5,637,193 | $68,661,011 | |||
Truist Financial Corp. (B) | 3,965,042 | 148,887,327 | |||
Capital markets 0.5% | |||||
The Charles Schwab Corp. | 1,970,093 | 66,470,938 | |||
Consumer finance 0.2% | |||||
Discover Financial Services | 413,771 | 20,725,789 | |||
Diversified financial services 3.4% | |||||
Berkshire Hathaway, Inc., Class B (A) | 2,230,443 | 398,156,377 | |||
Insurance 8.6% | |||||
Aflac, Inc. | 2,319,489 | 83,571,189 | |||
American International Group, Inc. | 5,738,508 | 178,926,679 | |||
Chubb, Ltd. | 1,879,398 | 237,969,375 | |||
Everest Re Group, Ltd. (B) | 595,346 | 122,760,345 | |||
Marsh & McLennan Companies, Inc. | 917,613 | 98,524,108 | |||
Reinsurance Group of America, Inc. | 359,823 | 28,224,516 | |||
RenaissanceRe Holdings, Ltd. | 133,312 | 22,800,351 | |||
The Progressive Corp. | 2,416,510 | 193,586,616 | |||
The Travelers Companies, Inc. | 454,021 | 51,781,095 | |||
Health care 19.9% | 2,347,743,134 | ||||
Health care equipment and supplies 1.9% | |||||
Medtronic PLC | 1,823,994 | 167,260,250 | |||
Zimmer Biomet Holdings, Inc. | 484,220 | 57,796,499 | |||
Health care providers and services 8.6% | |||||
AmerisourceBergen Corp. | 1,478,408 | 148,979,174 | |||
Anthem, Inc. | 876,820 | 230,586,124 | |||
Cigna Corp. | 1,664,890 | 312,416,609 | |||
McKesson Corp. | 1,004,598 | 154,125,425 | |||
UnitedHealth Group, Inc. | 565,908 | 166,914,565 | |||
Life sciences tools and services 0.5% | |||||
Avantor, Inc. (A)(B) | 3,162,683 | 53,765,611 | |||
Pharmaceuticals 8.9% | |||||
GlaxoSmithKline PLC, ADR (B) | 2,557,069 | 104,302,845 | |||
Johnson & Johnson | 2,399,794 | 337,483,030 | |||
Merck & Company, Inc. | 1,682,874 | 130,136,646 | |||
Novartis AG, ADR | 2,529,077 | 220,889,585 | |||
Pfizer, Inc. | 8,045,467 | 263,086,771 | |||
Industrials 11.2% | 1,326,279,075 | ||||
Aerospace and defense 1.5% | |||||
Howmet Aerospace, Inc. | 1,526,965 | 24,202,395 | |||
Huntington Ingalls Industries, Inc. | 461,050 | 80,448,615 | |||
Northrop Grumman Corp. | 212,848 | 65,437,989 | |||
Building products 1.4% | |||||
Carrier Global Corp. (B) | 2,101,464 | 46,694,530 | |||
Owens Corning | 2,077,463 | 115,839,337 | |||
Electrical equipment 2.1% | |||||
AMETEK, Inc. | 522,540 | 46,699,400 | |||
Eaton Corp. PLC | 2,327,322 | 203,594,129 | |||
Machinery 3.8% | |||||
Caterpillar, Inc. | 704,836 | 89,161,754 | |||
Cummins, Inc. | 509,728 | 88,315,473 |
SEE NOTES TO FUND'S INVESTMENTS | QUARTERLY REPORT | JOHN HANCOCK DISCIPLINED VALUE FUND | 3 |
Shares | Value | ||||
Industrials (continued) | |||||
Machinery (continued) | |||||
Deere & Company (B) | 704,934 | $110,780,378 | |||
Dover Corp. | 1,065,599 | 102,894,239 | |||
Otis Worldwide Corp. | 1,050,732 | 59,744,622 | |||
Professional services 0.2% | |||||
Robert Half International, Inc. | 522,589 | 27,608,377 | |||
Road and rail 1.6% | |||||
Kansas City Southern | 707,918 | 105,685,078 | |||
Union Pacific Corp. | 514,198 | 86,935,456 | |||
Trading companies and distributors 0.6% | |||||
United Rentals, Inc. (A) | 484,684 | 72,237,303 | |||
Information technology 14.5% | 1,704,826,777 | ||||
Communications equipment 3.0% | |||||
Cisco Systems, Inc. | 7,531,572 | 351,272,518 | |||
Semiconductors and semiconductor equipment 7.8% | |||||
Applied Materials, Inc. | 2,486,771 | 150,325,307 | |||
KLA Corp. | 708,216 | 137,733,848 | |||
Lam Research Corp. (B) | 568,083 | 183,752,127 | |||
Micron Technology, Inc. (A) | 3,464,274 | 178,479,396 | |||
NXP Semiconductors NV | 1,391,207 | 158,653,246 | |||
ON Semiconductor Corp. (A)(B) | 852,858 | 16,903,646 | |||
Qorvo, Inc. (A) | 859,379 | 94,987,161 | |||
Software 3.0% | |||||
Microsoft Corp. | 671,313 | 136,618,909 | |||
Oracle Corp. | 2,535,839 | 140,155,822 | |||
SS&C Technologies Holdings, Inc. (B) | 1,304,901 | 73,700,808 | |||
Technology hardware, storage and peripherals 0.7% | |||||
Western Digital Corp. | 1,862,831 | 82,243,989 | |||
Materials 7.4% | 875,244,847 | ||||
Chemicals 3.1% | |||||
Corteva, Inc. (B) | 3,474,930 | 93,093,375 | |||
DuPont de Nemours, Inc. | 3,112,529 | 165,368,666 | |||
FMC Corp. | 538,356 | 53,631,025 | |||
PPG Industries, Inc. | 475,236 | 50,403,530 | |||
Construction materials 0.6% | |||||
CRH PLC, ADR (B) | 2,040,203 | 69,999,365 | |||
Metals and mining 3.7% | |||||
Barrick Gold Corp. (B) | 9,000,367 | 242,469,887 | |||
Kinross Gold Corp. (A) | 4,850,205 | 35,018,480 | |||
Newmont Corp. | 1,309,712 | 80,861,619 | |||
Yamana Gold, Inc. (B) | 15,457,674 | 84,398,900 | |||
Utilities 2.1% | 250,916,188 | ||||
Electric utilities 1.1% | |||||
Edison International | 2,375,562 | 129,016,772 | |||
Independent power and renewable electricity producers 0.5% | |||||
Vistra Energy Corp. | 3,359,497 | 62,553,834 | |||
Multi-utilities 0.5% | |||||
CenterPoint Energy, Inc. | 3,178,660 | 59,345,582 |
4 | JOHN HANCOCK DISCIPLINED VALUE FUND | QUARTERLY REPORT | SEE NOTES TO FUND'S INVESTMENTS |
Shares | Value | ||||
Rights 0.0% | $138,393 | ||||
(Cost $304,795) | |||||
T-Mobile US, Inc. (Expiration Date: 7-27-20; Strike Price: $103.00) (A) | 823,770 | 138,393 | |||
Yield (%) | Shares | Value | |||
Short-term investments 2.7% | $321,534,796 | ||||
(Cost $321,528,201) | |||||
Short-term funds 2.7% | 321,534,796 | ||||
John Hancock Collateral Trust (C) | 0.2429(D) | 9,758,293 | 97,693,203 | ||
State Street Institutional U.S. Government Money Market Fund, Premier Class | 0.1158(D) | 223,841,593 | 223,841,593 |
Total investments (Cost $11,159,635,273) 100.4% | $11,856,144,934 | ||||
Other assets and liabilities, net (0.4%) | (46,823,799) | ||||
Total net assets 100.0% | $11,809,321,135 |
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 6-30-20. The value of securities on loan amounted to $95,690,044. |
(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 6-30-20. |
The fund had the following country
composition as a percentage of net assets on 6-30-20:
United States | 86.2% |
Switzerland | 3.9% |
Canada | 3.1% |
Ireland | 2.0% |
Netherlands | 1.8% |
United Kingdom | 1.3% |
Bermuda | 1.2% |
Other countries | 0.5% |
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 June 30, 2020, 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 | 9,758,293 | $6,063,564 | $382,972,106 | $(291,359,984) | $13,857 | $3,660 | $34,675 | — | $97,693,203 |
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.
6 | | |