John Hancock
Disciplined Value Fund
Quarterly portfolio holdings 6/30/2023
Fund’s investments |
As of 6-30-23 (unaudited)
Shares | Value | ||||
Common stocks 98.5% | $12,344,241,641 | ||||
(Cost $9,608,185,392) | |||||
Communication services 7.9% | 985,986,139 | ||||
Entertainment 2.8% | |||||
Activision Blizzard, Inc. (A) | 3,011,369 | 253,858,407 | |||
Take-Two Interactive Software, Inc. (A) | 261,848 | 38,533,552 | |||
Warner Brothers Discovery, Inc. (A) | 4,384,524 | 54,981,931 | |||
Interactive media and services 3.2% | |||||
Alphabet, Inc., Class A (A) | 3,349,795 | 400,970,462 | |||
Media 0.9% | |||||
Omnicom Group, Inc. | 1,130,319 | 107,549,853 | |||
Wireless telecommunication services 1.0% | |||||
T-Mobile US, Inc. (A) | 936,587 | 130,091,934 | |||
Consumer discretionary 5.9% | 742,056,687 | ||||
Automobile components 0.4% | |||||
BorgWarner, Inc. | 1,096,033 | 53,606,974 | |||
Distributors 0.9% | |||||
LKQ Corp. | 2,030,515 | 118,318,109 | |||
Hotels, restaurants and leisure 0.9% | |||||
Booking Holdings, Inc. (A) | 42,761 | 115,468,811 | |||
Household durables 1.5% | |||||
Mohawk Industries, Inc. (A) | 751,962 | 77,572,400 | |||
Sony Group Corp., ADR | 1,180,176 | 106,263,047 | |||
Specialty retail 2.2% | |||||
AutoZone, Inc. (A) | 93,029 | 231,954,787 | |||
Ulta Beauty, Inc. (A) | 82,603 | 38,872,559 | |||
Consumer staples 7.5% | 942,718,339 | ||||
Beverages 2.4% | |||||
Coca-Cola Europacific Partners PLC | 1,603,222 | 103,295,593 | |||
Keurig Dr. Pepper, Inc. | 6,409,110 | 200,412,870 | |||
Consumer staples distribution and retail 3.8% | |||||
Dollar General Corp. | 227,782 | 38,672,828 | |||
The Kroger Company | 1,344,082 | 63,171,854 | |||
U.S. Foods Holding Corp. (A) | 3,488,911 | 153,512,084 | |||
Walmart, Inc. | 1,396,679 | 219,530,005 | |||
Personal care products 0.1% | |||||
Kenvue, Inc. (A)(B) | 461,148 | 12,183,530 | |||
Tobacco 1.2% | |||||
Philip Morris International, Inc. | 1,556,439 | 151,939,575 | |||
Energy 10.5% | 1,321,054,284 | ||||
Energy equipment and services 2.7% | |||||
Halliburton Company | 4,910,898 | 162,010,525 | |||
Schlumberger, Ltd. | 3,765,530 | 184,962,834 | |||
Oil, gas and consumable fuels 7.8% | |||||
BP PLC, ADR | 3,657,934 | 129,088,491 | |||
Canadian Natural Resources, Ltd. | 2,935,942 | 165,176,097 | |||
Cenovus Energy, Inc. | 9,812,032 | 166,608,303 | |||
ConocoPhillips | 1,544,202 | 159,994,769 | |||
Marathon Petroleum Corp. | 1,682,568 | 196,187,429 |
2 | JOHN HANCOCK DISCIPLINED VALUE FUND | QUARTERLY REPORT | SEE NOTES TO FUND’S INVESTMENTS |
Shares | Value | ||||
Energy (continued) | |||||
Oil, gas and consumable fuels (continued) | |||||
Peabody Energy Corp. | 2,612,944 | $56,596,367 | |||
Pioneer Natural Resources Company | 484,745 | 100,429,469 | |||
Financials 18.0% | 2,261,507,380 | ||||
Banks 6.1% | |||||
JPMorgan Chase & Co. | 3,356,517 | 488,171,832 | |||
Wells Fargo & Company | 6,398,114 | 273,071,506 | |||
Capital markets 2.5% | |||||
Ares Management Corp., Class A | 590,461 | 56,890,917 | |||
Intercontinental Exchange, Inc. | 945,685 | 106,938,060 | |||
The Goldman Sachs Group, Inc. | 469,617 | 151,470,267 | |||
Consumer finance 0.6% | |||||
Discover Financial Services | 629,858 | 73,598,907 | |||
Financial services 5.5% | |||||
Berkshire Hathaway, Inc., Class B (A) | 1,320,083 | 450,148,303 | |||
FleetCor Technologies, Inc. (A) | 576,142 | 144,657,733 | |||
Global Payments, Inc. | 984,270 | 96,970,280 | |||
Insurance 3.3% | |||||
Aon PLC, Class A | 221,581 | 76,489,761 | |||
Arthur J. Gallagher & Company | 516,681 | 113,447,647 | |||
Chubb, Ltd. | 653,739 | 125,883,982 | |||
The Allstate Corp. | 395,849 | 43,163,375 | |||
The Progressive Corp. | 457,844 | 60,604,810 | |||
Health care 18.8% | 2,349,845,194 | ||||
Biotechnology 1.0% | |||||
Amgen, Inc. | 569,943 | 126,538,745 | |||
Health care providers and services 8.1% | |||||
AmerisourceBergen Corp. | 911,140 | 175,330,670 | |||
Centene Corp. (A) | 2,147,787 | 144,868,233 | |||
CVS Health Corp. | 2,384,259 | 164,823,825 | |||
McKesson Corp. | 235,835 | 100,774,654 | |||
The Cigna Group | 768,813 | 215,728,928 | |||
UnitedHealth Group, Inc. | 447,483 | 215,078,229 | |||
Life sciences tools and services 2.2% | |||||
Avantor, Inc. (A) | 5,430,641 | 111,545,366 | |||
ICON PLC (A) | 647,709 | 162,056,792 | |||
Pharmaceuticals 7.5% | |||||
Bristol-Myers Squibb Company | 5,589,562 | 357,452,488 | |||
Johnson & Johnson | 2,035,108 | 336,851,076 | |||
Sanofi, ADR | 4,430,356 | 238,796,188 | |||
Industrials 13.5% | 1,688,889,644 | ||||
Aerospace and defense 2.6% | |||||
General Dynamics Corp. | 759,031 | 163,305,520 | |||
Howmet Aerospace, Inc. | 3,329,701 | 165,019,982 | |||
Building products 1.4% | |||||
Allegion PLC | 745,798 | 89,510,676 | |||
Masco Corp. | 1,412,200 | 81,032,036 | |||
Electrical equipment 1.1% | |||||
Eaton Corp. PLC | 690,697 | 138,899,167 |
SEE NOTES TO FUND’S INVESTMENTS | QUARTERLY REPORT | JOHN HANCOCK DISCIPLINED VALUE FUND | 3 |
Shares | Value | ||||
Industrials (continued) | |||||
Machinery 4.8% | |||||
Caterpillar, Inc. | 278,631 | $68,557,158 | |||
Deere & Company | 350,300 | 141,938,057 | |||
Dover Corp. | 440,817 | 65,086,630 | |||
Fortive Corp. | 1,808,231 | 135,201,432 | |||
Otis Worldwide Corp. | 921,811 | 82,050,397 | |||
Wabtec Corp. | 972,590 | 106,663,945 | |||
Professional services 1.6% | |||||
Leidos Holdings, Inc. | 1,152,721 | 101,992,754 | |||
SS&C Technologies Holdings, Inc. | 1,668,764 | 101,127,098 | |||
Trading companies and distributors 2.0% | |||||
United Rentals, Inc. | 390,537 | 173,933,464 | |||
WESCO International, Inc. | 416,460 | 74,571,328 | |||
Information technology 11.3% | 1,415,874,729 | ||||
Communications equipment 2.5% | |||||
Cisco Systems, Inc. | 6,097,864 | 315,503,483 | |||
IT services 0.8% | |||||
Cognizant Technology Solutions Corp., Class A | 1,546,947 | 100,984,700 | |||
Semiconductors and semiconductor equipment 7.0% | |||||
Advanced Micro Devices, Inc. (A) | 1,367,011 | 155,716,223 | |||
Applied Materials, Inc. | 1,165,327 | 168,436,365 | |||
Lam Research Corp. | 139,988 | 89,992,686 | |||
Microchip Technology, Inc. | 1,808,796 | 162,050,034 | |||
Micron Technology, Inc. | 2,169,409 | 136,911,402 | |||
NXP Semiconductors NV | 269,643 | 55,190,529 | |||
Qualcomm, Inc. | 937,168 | 111,560,479 | |||
Technology hardware, storage and peripherals 1.0% | |||||
Dell Technologies, Inc., Class C | 2,208,997 | 119,528,828 | |||
Materials 3.5% | 438,898,885 | ||||
Chemicals 2.1% | |||||
Corteva, Inc. | 1,235,139 | 70,773,465 | |||
DuPont de Nemours, Inc. | 1,989,344 | 142,118,735 | |||
Olin Corp. | 1,035,339 | 53,206,071 | |||
Construction materials 1.0% | |||||
CRH PLC, ADR (B) | 2,128,872 | 118,642,037 | |||
Metals and mining 0.4% | |||||
Teck Resources, Ltd., Class B | 1,286,427 | 54,158,577 | |||
Utilities 1.6% | 197,410,360 | ||||
Electric utilities 1.0% | |||||
FirstEnergy Corp. | 3,163,554 | 122,998,980 | |||
Multi-utilities 0.6% | |||||
CenterPoint Energy, Inc. | 2,552,706 | 74,411,380 | |||
Yield (%) | Shares | Value | |||
Short-term investments 1.7% | $212,181,666 | ||||
(Cost $212,180,745) | |||||
Short-term funds 1.7% | 212,181,666 | ||||
John Hancock Collateral Trust (C) | 5.1773(D) | 1,935,292 | 19,342,853 | ||
State Street Institutional U.S. Government Money Market Fund, Premier Class | 5.0063(D) | 192,838,813 | 192,838,813 |
4 | JOHN HANCOCK DISCIPLINED VALUE FUND | QUARTERLY REPORT | SEE NOTES TO FUND’S INVESTMENTS |
Total investments (Cost $9,820,366,137) 100.2% | $12,556,423,307 | ||||
Other assets and liabilities, net (0.2%) | (20,498,137) | ||||
Total net assets 100.0% | $12,535,925,170 |
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 6-30-23. The value of securities on loan amounted to $18,917,447. |
(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 6-30-23. |
The fund had the following country composition as a percentage of net assets on 6-30-23:
United States | 87.9% |
Canada | 3.1% |
Ireland | 3.0% |
France | 1.9% |
United Kingdom | 1.9% |
Switzerland | 1.0% |
Other countries | 1.2% |
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 Advisor’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 of the Advisor 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 Pricing Committee following procedures established by the Advisor and adopted 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 Advisor’s 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, 2023, 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 | 1,935,292 | $7,490,790 | $146,154,248 | $(134,299,894) | $(631) | $(1,660) | $9,958 | — | $19,342,853 |
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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