UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-21779
JOHN HANCOCK FUNDS II
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(Exact name of registrant as specified in charter)
200 BERKELEY STREET, BOSTON, MA 02116
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(Address of principal executive offices) (Zip code)
SALVATORE SCHIAVONE, 200 Berkeley Street, BOSTON, MA 02116
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(Name and address of agent for service)
Registrant's telephone number, including area code: (617) 543-9634
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Date of fiscal year end: August 31
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Date of reporting period: August 31, 2022
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ITEM 1. REPORTS TO STOCKHOLDERS.
The Registrant prepared the following annual reports to shareholders, including twelve funds, for the period ended August 31, 2022:
•Strategic Income Opportunities Fund
•Floating Rate Income Fund
•Opportunistic Fixed Income Fund
•John Hancock Funds II - Underlying Funds Capital Appreciation Fund
Capital Appreciation Value Fund Core Bond Fund
Health Sciences Fund High Yield Fund
International Strategic Equity Allocation Fund Mid Value Fund
Science & Technology Fund U.S. Sector Rotation Fund
Annual report
John Hancock
Strategic Income
Opportunities Fund
Fixed income
August 31, 2022
A message to shareholders
Dear shareholder,
The bond market declined sharply for the 12 months ended August 31, 2022, as bond yields rose significantly. The catalyst was surging inflation; the 12-month U.S. inflation rate jumped to its highest level in more than 40 years, driven largely by rising food and energy prices. The U.S. Federal Reserve (Fed) responded with a number of short-term interest-rate increases. Bond market volatility also increased during the period, resulting primarily from Russia’s invasion of Ukraine in February and mixed global economic data.
While bond yields rose broadly for the period, short-term yields climbed the most in response to changing Fed policy. Sector performance was uniformly negative, with high-yield and investment-grade corporate bonds declining the most amid increased economic uncertainty stemming from the Fed’s rate hikes. Shorter-term sectors such as asset-backed securities and commercial mortgage-backed securities held up the best.
In these uncertain times, your financial professional can assist with positioning your portfolio so that it’s sufficiently diversified to help meet your long-term objectives and to withstand the inevitable bouts of market volatility along the way.
On behalf of everyone at John Hancock Investment Management, I’d like to take this opportunity to welcome new shareholders and thank existing shareholders for the continued trust you’ve placed in us.
Sincerely,
Andrew G. Arnott
Global Head of Retail,
Manulife Investment Management
President and CEO,
John Hancock Investment Management
Head of Wealth and Asset Management,
United States and Europe
This commentary reflects the CEO’s views as of this report’s period end and are subject to change at any time. Diversification does not guarantee investment returns and does not eliminate risk of loss. All investments entail risks, including the possible loss of principal. For more up-to-date information, you can visit our website at jhinvestments.com.
John Hancock
Strategic Income Opportunities Fund
| | ANNUAL REPORT | JOHN HANCOCK STRATEGIC INCOME OPPORTUNITIES FUND | 1 |
INVESTMENT OBJECTIVE
The fund seeks to maximize total return consisting of current income and capital appreciation.
AVERAGE ANNUAL TOTAL RETURNS AS OF 8/31/2022 (%)
The Bloomberg U.S. Aggregate Bond Index tracks the performance of U.S. investment-grade bonds in government, asset-backed, and corporate debt markets.
It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.
The fund’s Morningstar category average is a group of funds with similar investment objectives and strategies and is the equal-weighted return of all funds per category. Morningstar places funds in certain categories based on their historical portfolio holdings. Figures from Morningstar, Inc. include reinvested distributions and do not take into account sales charges. Actual load-adjusted performance is lower.
The past performance shown here reflects reinvested distributions and the beneficial effect of any expense reductions, and does not guarantee future results. Performance of the other share classes will vary based on the difference in the fees and expenses of those classes. Shares will fluctuate in value and, when redeemed, may be worth more or less than their original cost. Current month-end performance may be lower or higher than the performance cited, and can be found at jhinvestments.com or by calling 800-225-5291. For further information on the fund’s objectives, risks, and strategy, see the fund’s prospectus.
| 2 | JOHN HANCOCK STRATEGIC INCOME OPPORTUNITIES FUND | ANNUAL REPORT | |
PERFORMANCE HIGHLIGHTS OVER THE LAST TWELVE MONTHS
Bonds declined broadly as interest rates rose
Surging inflation and changing central bank policy led to a sharp increase in bond yields and a corresponding downward move in bond prices.
The fund outperformed its benchmark
The fund declined for the period but held up better than the Bloomberg U.S. Aggregate Bond Index.
Duration management was key to outperformance
Limiting the fund’s interest-rate sensitivity by maintaining a relatively short duration was the primary contributor to the fund’s outperformance of its benchmark.
PORTFOLIO COMPOSITION AS OF 8/31/2022 (% of net assets)
| | ANNUAL REPORT | JOHN HANCOCK STRATEGIC INCOME OPPORTUNITIES FUND | 3 |
QUALITY COMPOSITION AS OF 8/31/2022 (% of net assets)
Ratings are from Moody’s Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. “Not rated” securities are those with no ratings available from these agencies. All ratings are as of 8-31-22 and do not reflect subsequent downgrades or upgrades, if any.
Notes about risk
The fund is subject to various risks as described in the fund’s prospectus. Political tensions and armed conflicts, including the Russian invasion of Ukraine, and any resulting economic sanctions on entities and/or individuals of a particular country could lead such a country into an economic recession. The COVID-19 disease has resulted in significant disruptions to global business activity. A widespread health crisis such as a global pandemic could cause substantial market volatility, exchange-trading suspensions, and closures, which may lead to less liquidity in certain instruments, industries, sectors, or the markets, generally, and may ultimately affect fund performance. For more information, please refer to the “Principal risks” section of the prospectus.
| 4 | JOHN HANCOCK STRATEGIC INCOME OPPORTUNITIES FUND | ANNUAL REPORT | |
Management’s discussion of fund performance
How did the U.S. bond market perform during the 12 months ended August 31, 2022?
The past year was a challenging period as bonds suffered substantial declines in an environment of sharply higher interest rates. The 12-month U.S. inflation rate, driven primarily by higher food and energy prices, surged to 9.1% in June before dropping to 8.3% at period end. The U.S. Federal Reserve (Fed) responded with four short-term interest-rate increases over the last six months of the period. The Russian invasion of Ukraine in early 2022 heightened market volatility and exacerbated the inflationary conditions.
In this environment, bond yields moved broadly higher, putting downward pressure on bond prices. Short-term yields rose the most, reflecting the Fed’s interest-rate hikes and resulting in an inverted yield curve (where short-term bond yields are higher than long-term yields). Sector performance was uniformly negative, with investment-grade corporate bonds declining the most, while shorter-term sectors such as asset-backed securities and floating-rate securities held up the best.
How did the fund perform?
The fund declined for the period but outperformed its benchmark. The key factor was the fund’s duration positioning. The fund had a significantly shorter duration (a measure of interest-rate sensitivity) than the benchmark, which limited the
NET CURRENCY EXPOSURE
AS OF 8/31/2022 (% of net assets) |
| United States Dollar | 90.9 |
| Indonesian Rupiah | 2.1 |
| New Zealand Dollar | 1.6 |
| Other Currencies | 1.5 |
| Canadian Dollar | 1.3 |
| Chinese Yuan Renminbi | 1.3 |
| Korean Won | 1.3 |
| Malaysian Ringgit | 1.2 |
| Singapore Dollar | (1.2) |
| TOTAL | 100.0 |
| Net currency exposure, after taking into account the effects of forward foreign currency exchange contracts. |
COUNTRY COMPOSITION
AS OF 8/31/2022 (% of net assets) |
| United States | 59.6 |
| Canada | 6.7 |
| Indonesia | 3.7 |
| Luxembourg | 2.8 |
| Mexico | 2.3 |
| Norway | 2.1 |
| United Kingdom | 1.9 |
| South Korea | 1.7 |
| Supranational | 1.6 |
| New Zealand | 1.4 |
| Other countries | 16.2 |
| TOTAL | 100.0 |
| | ANNUAL REPORT | JOHN HANCOCK STRATEGIC INCOME OPPORTUNITIES FUND | 5 |
negative impact of rising interest rates on fund performance. The fund’s exposure to non-U.S. bonds also aided performance, particularly holdings in Europe, Indonesia, and China, as sovereign government bonds outperformed the domestic market. Sector allocation detracted from relative performance. Out-of-index positions in high-yield corporate bonds detracted the most, along with an underweight position in U.S. Treasury securities. The fund’s exposure to foreign currencies also weighed on relative results; the U.S. dollar strengthened as the Fed’s interest-rate hikes, coupled with risk-off market sentiment, made U.S. assets more attractive to international investors. Additionally, the fund’s use of derivatives had a negative impact on results.
What changes did you make during the period?
We reduced exposure to high-yield corporate bonds, shifting these assets into non-U.S. government bonds and securitized investments such as commercial mortgage-backed securities and nongovernment-agency residential mortgage-backed securities. We also lengthened the fund’s duration following the sharp rise in interest rates during the period, although it remained notably shorter than the benchmark. The fund’s positioning reflects our efforts to maintain a lower overall risk profile for the fund while continuing to focus on diversification and income generation.
Can you tell us about a portfolio manager addition?
Effective March 31, 2022, Bradley L. Lutz, CFA, was added to the portfolio management team.
Christopher M. Chapman, CFA
The views expressed in this report are exclusively those of the portfolio management team at Manulife Investment Management (US) LLC, and are subject to change. They are not meant as investment advice. Please note that the holdings discussed in this report may not have been held by the fund for the entire period. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk.
| 6 | JOHN HANCOCK STRATEGIC INCOME OPPORTUNITIES FUND | ANNUAL REPORT | |
TOTAL RETURNS FOR THE PERIOD ENDED AUGUST 31, 2022
Average annual total returns (%)
with maximum sales charge | | Cumulative total
returns (%)
with maximum sales charge | SEC 30-day
yield (%)
subsidized | SEC 30-day
yield (%)
unsubsidized† |
| | | 1-year | 5-year | 10-year | 5-year | 10-year | as of
8-31-22 | as of
8-31-22 |
| Class A | | -14.20 | -0.24 | 1.92 | -1.18 | 20.96 | 3.60 | 3.55 |
| Class C | | -12.06 | -0.09 | 1.64 | -0.46 | 17.65 | 3.03 | 2.98 |
| Class I1 | | -10.30 | 0.91 | 2.67 | 4.62 | 30.16 | 4.05 | 4.00 |
| Class R21 | | -10.71 | 0.51 | 2.28 | 2.57 | 25.26 | 3.68 | 3.63 |
| Class R61 | | -10.28 | 1.00 | 2.76 | 5.09 | 31.26 | 4.17 | 4.12 |
| Class NAV1 | | -10.28 | 1.03 | 2.78 | 5.24 | 31.59 | 4.18 | 4.13 |
| Index†† | | -11.52 | 0.52 | 1.35 | 2.62 | 14.36 | — | — |
Performance figures assume all distributions are reinvested. Figures reflect maximum sales charges on Class A shares of 4.0%, and the applicable contingent deferred sales charge (CDSC) on Class C shares. The returns for Class A shares have been adjusted to reflect the reduction in the maximum sales charge from 4.5% to 4.0%, effective 2-3-14. Class C shares sold within one year of purchase are subject to a 1% CDSC. Sales charges are not applicable to Class I, Class R2, Class R6, and Class NAV shares.
The expense ratios of the fund, both net (including any fee waivers and/or expense limitations) and gross (excluding any fee waivers and/or expense limitations), are set forth according to the most recent publicly available prospectuses for the fund and may differ from those disclosed in the Financial highlights tables in this report. Net expenses reflect contractual fee waivers and expense limitations in effect until December 31, 2022 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
| | Class A | Class C | Class I | Class R2 | Class R6 | Class NAV |
| Gross (%) | 1.10 | 1.80 | 0.80 | 1.20 | 0.70 | 0.69 |
| Net (%) | 1.05 | 1.75 | 0.75 | 1.15 | 0.65 | 0.64 |
Please refer to the most recent prospectus and annual or semiannual report for more information on expenses and any expense limitation arrangements for each class.
The returns reflect past results and should not be considered indicative of future performance. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund’s current performance may be higher or lower than the performance shown. For current to the most recent month-end performance data, please call 800–225–5291 or visit the fund’s website at jhinvestments.com.
The performance table above and the chart on the next page do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The fund’s performance results reflect any applicable fee waivers or expense reductions, without which the expenses would increase and results would have been less favorable.
† Unsubsidized yield reflects what the yield would have been without the effect of reimbursements and waivers.
†† Index is the Bloomberg U.S. Aggregate Bond Index.
See the following page for footnotes.
| | ANNUAL REPORT | JOHN HANCOCK STRATEGIC INCOME OPPORTUNITIES FUND | 7 |
This chart and table show what happened to a hypothetical $10,000 investment in John Hancock Strategic Income Opportunities Fund for the share classes and periods indicated, assuming all distributions were reinvested. For comparison, we’ve shown the same investment in the Bloomberg U.S. Aggregate Bond Index.
| | Start date | With maximum
sales charge ($) | Without
sales charge ($) | Index ($) |
| Class C2 | 8-31-12 | 11,765 | 11,765 | 11,436 |
| Class I1 | 8-31-12 | 13,016 | 13,016 | 11,436 |
| Class R21 | 8-31-12 | 12,526 | 12,526 | 11,436 |
| Class R61 | 8-31-12 | 13,126 | 13,126 | 11,436 |
| Class NAV1 | 8-31-12 | 13,159 | 13,159 | 11,436 |
The values shown in the chart for “Class A shares with maximum sales charge” have been adjusted to reflect the reduction in the Class A maximum sales charge from 4.5% to 4.0%, which became effective on 2-3-14.
The Bloomberg U.S. Aggregate Bond Index tracks the performance of U.S. investment-grade bonds in government, asset-backed, and corporate debt markets.
It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.
Footnotes related to performance pages
| 1 | For certain types of investors, as described in the fund’s prospectuses. |
| 2 | The contingent deferred sales charge is not applicable. |
| 8 | JOHN HANCOCK STRATEGIC INCOME OPPORTUNITIES FUND | ANNUAL REPORT | |
These examples are intended to help you understand your ongoing operating expenses of investing in the fund so you can compare these costs with the ongoing costs of investing in other mutual funds.
Understanding fund expenses
As a shareholder of the fund, you incur two types of costs:
■Transaction costs, which include sales charges (loads) on purchases or redemptions (varies by share class), minimum account fee charge, etc.
■Ongoing operating expenses, including management fees, distribution and service fees (if applicable), and other fund expenses.
We are presenting only your ongoing operating expenses here.
Actual expenses/actual returns
The first line of each share class in the table on the following page is intended to provide information about the fund’s actual ongoing operating expenses, and is based on the fund’s actual return. It assumes an account value of $1,000.00 on March 1, 2022, with the same investment held until August 31, 2022.
Together with the value of your account, you may use this information to estimate the operating expenses that you paid over the period. Simply divide your account value at August 31, 2022, by $1,000.00, then multiply it by the “expenses paid” for your share class from the table. For example, for an account value of $8,600.00, the operating expenses should be calculated as follows:
Hypothetical example for comparison purposes
The second line of each share class in the table on the following page allows you to compare the fund’s ongoing operating expenses with those of any other fund. It provides an example of the fund’s hypothetical account values and hypothetical expenses based on each class’s actual expense ratio and an assumed 5% annualized return before expenses (which is not the class’s actual return). It assumes an account value of $1,000.00 on March 1, 2022, with the same investment held until August 31, 2022. Look in any other fund shareholder report to find its hypothetical example and you will be able to compare these expenses. Please remember that these hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period.
| | ANNUAL REPORT | JOHN HANCOCK STRATEGIC INCOME OPPORTUNITIES FUND | 9 |
Remember, these examples do not include any transaction costs, therefore, these examples will not help you to determine the relative total costs of owning different funds. If transaction costs were included, your expenses would have been higher. See the prospectuses for details regarding transaction costs.
SHAREHOLDER EXPENSE EXAMPLE CHART
| | | Account
value on
3-1-2022 | Ending
value on
8-31-2022 | Expenses
paid during
period ended
8-31-20221 | Annualized
expense
ratio |
| Class A | Actual expenses/actual returns | $1,000.00 | $934.30 | $5.27 | 1.08% |
| | Hypothetical example | 1,000.00 | 1,019.80 | 5.50 | 1.08% |
| Class C | Actual expenses/actual returns | 1,000.00 | 931.90 | 8.67 | 1.78% |
| | Hypothetical example | 1,000.00 | 1,016.20 | 9.05 | 1.78% |
| Class I | Actual expenses/actual returns | 1,000.00 | 936.60 | 3.81 | 0.78% |
| | Hypothetical example | 1,000.00 | 1,021.30 | 3.97 | 0.78% |
| Class R2 | Actual expenses/actual returns | 1,000.00 | 934.00 | 5.65 | 1.16% |
| | Hypothetical example | 1,000.00 | 1,019.40 | 5.90 | 1.16% |
| Class R6 | Actual expenses/actual returns | 1,000.00 | 936.30 | 3.27 | 0.67% |
| | Hypothetical example | 1,000.00 | 1,021.80 | 3.41 | 0.67% |
| Class NAV | Actual expenses/actual returns | 1,000.00 | 936.20 | 3.22 | 0.66% |
| | Hypothetical example | 1,000.00 | 1,021.90 | 3.36 | 0.66% |
| 1 | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period). |
| 10 | JOHN HANCOCK STRATEGIC INCOME OPPORTUNITIES FUND | ANNUAL REPORT | |
AS OF 8-31-22
| | Rate (%) | Maturity date | | Par value^ | Value |
| U.S. Government and Agency obligations 7.3% | | | $286,188,549 |
| (Cost $306,739,270) | | | | | |
| U.S. Government 7.2% | | | | 282,246,079 |
| U.S. Treasury | | | | | |
| Bond | 2.000 | 02-15-50 | | 18,000,000 | 13,615,313 |
| Bond | 2.375 | 02-15-42 | | 46,170,000 | 38,270,602 |
| Bond | 2.750 | 11-15-42 | | 10,200,000 | 8,942,133 |
| Bond | 3.000 | 02-15-49 | | 62,535,000 | 58,138,009 |
| Note | 0.375 | 11-30-25 | | 8,500,000 | 7,689,844 |
| Note | 0.500 | 02-28-26 | | 12,130,000 | 10,944,482 |
| Note | 1.500 | 01-31-27 | | 48,055,000 | 44,342,001 |
| Note | 1.875 | 02-15-32 | | 24,533,000 | 21,934,035 |
| Note | 2.000 | 11-15-26 | | 17,495,000 | 16,517,740 |
| Note | 2.250 | 03-31-24 | | 23,895,000 | 23,436,701 |
| Note | 2.375 | 03-31-29 | | 7,995,000 | 7,538,723 |
| Note | 2.625 | 05-31-27 | | 10,525,000 | 10,193,627 |
| Note | 2.875 | 05-15-32 | | 21,220,000 | 20,682,869 |
| U.S. Government Agency 0.1% | | | | 3,942,470 |
Federal National Mortgage Association
30 Yr Pass Thru (A) | 4.000 | TBA | | 4,040,000 | 3,942,470 |
|
| Foreign government obligations 21.9% | | | | $861,434,989 |
| (Cost $1,009,233,157) | | | | | |
| Australia 1.1% | | | | | 43,183,617 |
| Commonwealth of Australia | 0.250 | 11-21-24 | AUD | 21,245,000 | 13,644,766 |
| Commonwealth of Australia | 0.500 | 09-21-26 | AUD | 8,025,000 | 4,906,361 |
| New South Wales Treasury Corp. | 1.000 | 02-08-24 | AUD | 13,355,000 | 8,834,766 |
| New South Wales Treasury Corp. | 1.250 | 03-20-25 | AUD | 15,505,000 | 10,016,139 |
| Queensland Treasury Corp. (B) | 4.250 | 07-21-23 | AUD | 8,355,000 | 5,781,585 |
| Austria 0.2% | | | | | 6,499,902 |
| Republic of Austria (B) | 0.500 | 02-20-29 | EUR | 7,075,000 | 6,499,902 |
| Brazil 0.6% | | | | | 24,075,435 |
| Federative Republic of Brazil | 10.000 | 01-01-23 | BRL | 24,040,000 | 4,643,273 |
| Federative Republic of Brazil | 10.000 | 01-01-25 | BRL | 103,530,000 | 19,432,162 |
| Canada 2.8% | | | | | 108,784,716 |
| Canada Housing Trust No. 1 (B) | 1.250 | 06-15-26 | CAD | 16,100,000 | 11,228,504 |
| Canada Housing Trust No. 1 (B) | 1.950 | 12-15-25 | CAD | 17,175,000 | 12,374,605 |
| CPPIB Capital, Inc. (B) | 2.250 | 12-01-31 | CAD | 6,685,000 | 4,439,021 |
| Government of Canada | 1.500 | 09-01-24 | CAD | 2,863,000 | 2,092,202 |
| Government of Canada | 2.250 | 12-01-29 | CAD | 19,660,000 | 14,121,639 |
| Province of Ontario | 1.350 | 12-02-30 | CAD | 50,485,000 | 31,651,771 |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK STRATEGIC INCOME OPPORTUNITIES FUND | 11 |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Canada (continued) | | | | | |
| Province of Ontario | 2.900 | 06-02-28 | CAD | 13,400,000 | $9,764,395 |
| Province of Ontario | 3.450 | 06-02-45 | CAD | 11,995,000 | 8,261,832 |
| Province of Quebec | 0.200 | 04-07-25 | EUR | 3,150,000 | 3,009,182 |
| Province of Quebec | 1.500 | 12-15-23 | GBP | 5,130,000 | 5,802,048 |
| Province of Quebec | 3.000 | 09-01-23 | CAD | 8,000,000 | 6,039,517 |
| China 1.1% | | | | | 45,021,233 |
| People’s Republic of China | 1.990 | 04-09-25 | CNY | 128,240,000 | 18,497,432 |
| People’s Republic of China | 2.690 | 08-12-26 | CNY | 44,520,000 | 6,534,809 |
| People’s Republic of China | 2.880 | 11-05-23 | CNY | 136,230,000 | 19,988,992 |
| Colombia 0.9% | | | | | 37,701,259 |
| Republic of Colombia | 3.250 | 04-22-32 | | 9,615,000 | 7,093,668 |
| Republic of Colombia | 4.500 | 03-15-29 | | 2,450,000 | 2,138,604 |
| Republic of Colombia | 5.625 | 02-26-44 | | 2,450,000 | 1,781,372 |
| Republic of Colombia | 6.250 | 11-26-25 | COP | 39,010,000,000 | 7,616,077 |
| Republic of Colombia | 7.500 | 08-26-26 | COP | 40,050,000,000 | 7,884,450 |
| Republic of Colombia | 10.000 | 07-24-24 | COP | 50,477,000,000 | 11,187,088 |
| Greece 0.6% | | | | | 24,118,889 |
| Republic of Greece (B) | 1.500 | 06-18-30 | EUR | 10,675,000 | 8,976,585 |
| Republic of Greece (B) | 2.000 | 04-22-27 | EUR | 8,435,000 | 8,003,589 |
| Republic of Greece | 4.200 | 01-30-42 | EUR | 7,100,000 | 7,138,715 |
| India 0.4% | | | | | 16,736,641 |
| Export-Import Bank of India (B) | 3.875 | 02-01-28 | | 6,380,000 | 6,059,613 |
| Republic of India | 6.100 | 07-12-31 | INR | 358,560,000 | 4,183,358 |
| Republic of India | 6.450 | 10-07-29 | INR | 373,000,000 | 4,509,217 |
| Republic of India | 7.270 | 04-08-26 | INR | 156,200,000 | 1,984,453 |
| Indonesia 3.0% | | | | | 117,157,288 |
| Perusahaan Penerbit SBSN Indonesia III (B) | 4.150 | 03-29-27 | | 10,060,000 | 10,077,102 |
| Republic of Indonesia | 1.100 | 03-12-33 | EUR | 2,709,000 | 2,009,968 |
| Republic of Indonesia (B) | 2.150 | 07-18-24 | EUR | 6,000,000 | 5,997,862 |
| Republic of Indonesia (B) | 2.625 | 06-14-23 | EUR | 9,110,000 | 9,201,338 |
| Republic of Indonesia | 3.050 | 03-12-51 | | 5,655,000 | 4,328,987 |
| Republic of Indonesia | 3.850 | 10-15-30 | | 4,480,000 | 4,381,388 |
| Republic of Indonesia | 6.375 | 04-15-32 | IDR | 317,682,000,000 | 20,289,784 |
| Republic of Indonesia | 6.500 | 06-15-25 | IDR | 272,476,000,000 | 18,494,114 |
| Republic of Indonesia | 6.625 | 05-15-33 | IDR | 93,981,000,000 | 6,102,766 |
| Republic of Indonesia | 7.000 | 05-15-27 | IDR | 72,700,000,000 | 4,946,605 |
| Republic of Indonesia | 7.500 | 06-15-35 | IDR | 61,272,000,000 | 4,251,990 |
| Republic of Indonesia | 7.500 | 05-15-38 | IDR | 62,856,000,000 | 4,314,944 |
| Republic of Indonesia | 8.125 | 05-15-24 | IDR | 45,206,000,000 | 3,162,973 |
| Republic of Indonesia | 8.375 | 09-15-26 | IDR | 81,815,000,000 | 5,864,472 |
| Republic of Indonesia | 8.750 | 05-15-31 | IDR | 111,458,000,000 | 8,281,459 |
| 12 | JOHN HANCOCK STRATEGIC INCOME OPPORTUNITIES FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Indonesia (continued) | | | | | |
| Republic of Indonesia | 9.000 | 03-15-29 | IDR | 73,235,000,000 | $5,451,536 |
| Ireland 0.1% | | | | | 2,638,856 |
| Republic of Ireland | 1.100 | 05-15-29 | EUR | 2,760,000 | 2,638,856 |
| Italy 0.5% | | | | | 19,917,170 |
| Republic of Italy | 1.250 | 02-17-26 | | 7,595,000 | 6,633,519 |
| Republic of Italy (B) | 1.850 | 07-01-25 | EUR | 13,495,000 | 13,283,651 |
| Japan 1.0% | | | | | 39,873,723 |
| Government of Japan | 0.005 | 03-20-27 | JPY | 1,128,000,000 | 8,125,447 |
| Government of Japan | 0.100 | 06-20-25 | JPY | 4,387,750,000 | 31,748,276 |
| Malaysia 1.2% | | | | | 47,866,259 |
| Government of Malaysia | 3.733 | 06-15-28 | MYR | 24,975,000 | 5,550,966 |
| Government of Malaysia | 3.828 | 07-05-34 | MYR | 22,120,000 | 4,770,069 |
| Government of Malaysia | 3.844 | 04-15-33 | MYR | 48,536,000 | 10,586,361 |
| Government of Malaysia | 3.882 | 03-14-25 | MYR | 36,535,000 | 8,267,199 |
| Government of Malaysia | 3.899 | 11-16-27 | MYR | 43,417,000 | 9,763,779 |
| Government of Malaysia | 3.900 | 11-30-26 | MYR | 18,960,000 | 4,274,946 |
| Government of Malaysia | 4.059 | 09-30-24 | MYR | 20,510,000 | 4,652,939 |
| Mexico 1.4% | | | | | 56,888,945 |
| Government of Mexico | 5.000 | 03-06-25 | MXN | 239,090,000 | 10,663,052 |
| Government of Mexico | 5.750 | 03-05-26 | MXN | 253,970,000 | 11,291,195 |
| Government of Mexico | 7.500 | 06-03-27 | MXN | 452,090,000 | 21,018,246 |
| Government of Mexico | 7.750 | 05-29-31 | MXN | 304,940,000 | 13,916,452 |
| New Zealand 1.4% | | | | | 56,650,563 |
| Government of New Zealand | 0.500 | 05-15-24 | NZD | 40,290,000 | 23,304,413 |
| Government of New Zealand | 0.500 | 05-15-26 | NZD | 32,455,000 | 17,557,305 |
| Government of New Zealand | 1.500 | 04-15-26 | NZD | 6,980,000 | 3,844,695 |
| Government of New Zealand | 4.500 | 04-15-27 | NZD | 3,200,000 | 2,009,608 |
| Government of New Zealand | 4.500 | 04-15-27 | NZD | 12,470,000 | 7,628,541 |
| Government of New Zealand | 5.500 | 04-15-23 | NZD | 3,730,000 | 2,306,001 |
| Norway 1.4% | | | | | 54,066,608 |
| Kingdom of Norway (B) | 1.500 | 02-19-26 | NOK | 81,525,000 | 7,667,063 |
| Kingdom of Norway (B) | 1.750 | 03-13-25 | NOK | 127,825,000 | 12,321,734 |
| Kingdom of Norway (B) | 1.750 | 02-17-27 | NOK | 92,990,000 | 8,691,581 |
| Kingdom of Norway (B) | 2.000 | 05-24-23 | NOK | 117,280,000 | 11,714,945 |
| Kommunalbanken AS | 4.250 | 07-16-25 | AUD | 11,774,000 | 8,122,493 |
| Kommunalbanken AS | 5.250 | 07-15-24 | AUD | 7,910,000 | 5,548,792 |
| Philippines 0.6% | | | | | 22,196,577 |
| Republic of the Philippines | 0.875 | 05-17-27 | EUR | 17,540,000 | 15,820,989 |
| Republic of the Philippines | 6.250 | 01-14-36 | PHP | 373,000,000 | 6,375,588 |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK STRATEGIC INCOME OPPORTUNITIES FUND | 13 |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Portugal 0.5% | | | | | $19,212,880 |
| Republic of Portugal (B) | 0.475 | 10-18-30 | EUR | 17,270,000 | 14,947,419 |
| Republic of Portugal (B) | 0.700 | 10-15-27 | EUR | 4,525,000 | 4,265,461 |
| Qatar 0.3% | | | | | 11,337,171 |
| State of Qatar (B) | 4.000 | 03-14-29 | | 3,455,000 | 3,520,680 |
| State of Qatar (B) | 4.817 | 03-14-49 | | 7,575,000 | 7,816,491 |
| Singapore 0.3% | | | | | 10,470,583 |
| Republic of Singapore | 1.250 | 11-01-26 | SGD | 15,610,000 | 10,470,583 |
| South Korea 1.0% | | | | | 37,849,955 |
| Republic of Korea | 2.125 | 06-10-27 | KRW | 13,298,800,000 | 9,213,069 |
| Republic of Korea | 2.375 | 03-10-27 | KRW | 40,688,880,000 | 28,636,886 |
| Spain 0.5% | | | | | 21,307,198 |
| Kingdom of Spain (B) | 0.250 | 07-30-24 | EUR | 9,125,000 | 8,953,956 |
| Kingdom of Spain (B) | 0.800 | 07-30-27 | EUR | 13,040,000 | 12,353,242 |
| Sweden 0.2% | | | | | 7,716,102 |
| Kingdom of Sweden (B) | 0.125 | 04-24-23 | EUR | 7,740,000 | 7,716,102 |
| United Arab Emirates 0.4% | | | | | 15,717,620 |
| Government of Abu Dhabi (B) | 1.700 | 03-02-31 | | 4,890,000 | 4,185,292 |
| Government of Abu Dhabi (B) | 3.125 | 04-16-30 | | 7,880,000 | 7,621,410 |
| Government of Abu Dhabi (B) | 3.875 | 04-16-50 | | 4,315,000 | 3,910,918 |
| United Kingdom 0.4% | | | | | 14,445,799 |
| Government of United Kingdom | 0.125 | 01-31-24 | GBP | 9,415,000 | 10,484,605 |
|
| Government of United Kingdom | 0.250 | 01-31-25 | GBP | 3,650,000 | 3,961,194 |
| Corporate bonds 46.0% | | | | $1,806,308,089 |
| (Cost $2,096,412,941) | | | | | |
| Communication services 5.7% | | | | 225,583,028 |
| Diversified telecommunication services 0.7% | | | |
| AT&T, Inc. | 0.900 | 03-25-24 | | 3,227,000 | 3,081,406 |
| Cellnex Telecom SA | 1.875 | 06-26-29 | EUR | 5,400,000 | 4,357,490 |
| CT Trust (B) | 5.125 | 02-03-32 | | 3,790,000 | 3,270,838 |
| IHS Holding, Ltd. (B) | 6.250 | 11-29-28 | | 3,600,000 | 3,046,608 |
| Kenbourne Invest SA (B) | 4.700 | 01-22-28 | | 4,775,000 | 3,841,673 |
| Total Play Telecomunicaciones SA de CV (B) | 7.500 | 11-12-25 | | 8,945,000 | 8,050,500 |
| Verizon Communications, Inc. | 0.750 | 03-22-24 | | 2,421,000 | 2,309,316 |
| Entertainment 0.6% | | | |
| Netflix, Inc. | 4.875 | 04-15-28 | | 2,890,000 | 2,810,525 |
| Netflix, Inc. (B) | 5.375 | 11-15-29 | | 9,335,000 | 9,194,975 |
| WMG Acquisition Corp. (B) | 3.000 | 02-15-31 | | 15,595,000 | 12,378,531 |
| 14 | JOHN HANCOCK STRATEGIC INCOME OPPORTUNITIES FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Communication services (continued) | | | | |
| Interactive media and services 0.2% | | | |
| Match Group Holdings II LLC (B) | 4.125 | 08-01-30 | | 7,915,000 | $6,549,210 |
| Media 3.1% | | | |
| Altice Financing SA (B) | 5.000 | 01-15-28 | | 515,000 | 415,548 |
| CCO Holdings LLC (B) | 4.250 | 02-01-31 | | 1,700,000 | 1,387,107 |
| CCO Holdings LLC (B) | 4.500 | 08-15-30 | | 8,205,000 | 6,900,200 |
| CCO Holdings LLC (B) | 4.500 | 06-01-33 | | 5,745,000 | 4,509,825 |
| CCO Holdings LLC (B) | 4.750 | 03-01-30 | | 11,565,000 | 9,940,522 |
| CCO Holdings LLC (B) | 5.125 | 05-01-27 | | 13,050,000 | 12,386,995 |
| Charter Communications Operating LLC | 2.800 | 04-01-31 | | 2,350,000 | 1,903,813 |
| Charter Communications Operating LLC | 5.125 | 07-01-49 | | 15,905,000 | 12,904,594 |
| Charter Communications Operating LLC | 5.750 | 04-01-48 | | 7,045,000 | 6,268,611 |
| Globo Comunicacao e Participacoes SA (B) | 5.500 | 01-14-32 | | 5,840,000 | 4,771,795 |
| LCPR Senior Secured Financing DAC (B) | 5.125 | 07-15-29 | | 8,000,000 | 6,880,000 |
| News Corp. (B) | 3.875 | 05-15-29 | | 17,435,000 | 15,168,450 |
| Sirius XM Radio, Inc. (B) | 4.125 | 07-01-30 | | 12,225,000 | 10,357,876 |
| Virgin Media Finance PLC (B) | 5.000 | 07-15-30 | | 7,640,000 | 6,035,218 |
| Virgin Media Secured Finance PLC (B) | 4.500 | 08-15-30 | | 5,145,000 | 4,284,242 |
| Virgin Media Secured Finance PLC (B) | 5.500 | 05-15-29 | | 11,030,000 | 9,811,957 |
| VTR Comunicaciones SpA (B) | 4.375 | 04-15-29 | | 4,495,000 | 2,814,994 |
| VTR Comunicaciones SpA (B) | 5.125 | 01-15-28 | | 3,333,000 | 2,233,276 |
| VTR Finance NV (B) | 6.375 | 07-15-28 | | 5,360,000 | 2,366,166 |
| Wireless telecommunication services 1.1% | | | |
| Millicom International Cellular SA (B) | 4.500 | 04-27-31 | | 5,685,000 | 4,661,700 |
| T-Mobile USA, Inc. | 2.625 | 04-15-26 | | 2,415,000 | 2,234,781 |
| T-Mobile USA, Inc. | 2.625 | 02-15-29 | | 4,405,000 | 3,798,113 |
| T-Mobile USA, Inc. | 2.875 | 02-15-31 | | 4,070,000 | 3,439,964 |
| T-Mobile USA, Inc. | 3.375 | 04-15-29 | | 4,865,000 | 4,382,392 |
| T-Mobile USA, Inc. | 3.500 | 04-15-31 | | 8,110,000 | 7,181,344 |
| T-Mobile USA, Inc. | 4.750 | 02-01-28 | | 1,665,000 | 1,628,537 |
| Vmed O2 UK Financing I PLC (B) | 3.250 | 01-31-31 | EUR | 7,750,000 | 6,527,006 |
| Vmed O2 UK Financing I PLC (B) | 4.250 | 01-31-31 | | 14,225,000 | 11,496,930 |
| Consumer discretionary 5.4% | | | | 211,504,732 |
| Automobiles 1.6% | | | |
| BMW Finance NV | 1.000 | 11-14-24 | EUR | 4,785,000 | 4,691,554 |
| Ford Motor Company | 3.250 | 02-12-32 | | 11,425,000 | 8,923,953 |
| Ford Motor Credit Company LLC | 2.748 | 06-14-24 | GBP | 3,354,000 | 3,645,462 |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK STRATEGIC INCOME OPPORTUNITIES FUND | 15 |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Consumer discretionary (continued) | | | | |
| Automobiles (continued) | | | |
| Ford Motor Credit Company LLC | 2.900 | 02-16-28 | | 3,620,000 | $3,027,225 |
| Ford Motor Credit Company LLC | 3.625 | 06-17-31 | | 12,890,000 | 10,437,420 |
| Ford Motor Credit Company LLC | 4.000 | 11-13-30 | | 2,575,000 | 2,151,104 |
| Ford Motor Credit Company LLC | 4.125 | 08-17-27 | | 1,665,000 | 1,499,715 |
| Ford Motor Credit Company LLC | 4.542 | 08-01-26 | | 4,455,000 | 4,147,918 |
| Ford Motor Credit Company LLC | 4.950 | 05-28-27 | | 11,500,000 | 10,796,488 |
| General Motors Financial Company, Inc. | 1.200 | 10-15-24 | | 11,195,000 | 10,466,565 |
| General Motors Financial Company, Inc. | 3.500 | 11-07-24 | | 4,365,000 | 4,276,373 |
| Hotels, restaurants and leisure 3.6% | | | |
| Carnival Corp. (B) | 5.750 | 03-01-27 | | 11,850,000 | 9,213,375 |
| Hilton Domestic Operating Company, Inc. (B) | 3.625 | 02-15-32 | | 4,920,000 | 3,971,990 |
| Hilton Domestic Operating Company, Inc. | 4.875 | 01-15-30 | | 7,450,000 | 6,807,810 |
| Hyatt Hotels Corp. | 6.000 | 04-23-30 | | 11,696,000 | 11,946,383 |
| MGM Resorts International | 4.750 | 10-15-28 | | 1,060,000 | 931,737 |
| New Red Finance, Inc. (B) | 3.500 | 02-15-29 | | 10,802,000 | 9,275,731 |
| New Red Finance, Inc. (B) | 3.875 | 01-15-28 | | 8,793,000 | 7,816,186 |
| New Red Finance, Inc. (B) | 4.000 | 10-15-30 | | 22,370,000 | 18,154,709 |
| Royal Caribbean Cruises, Ltd. (B) | 4.250 | 07-01-26 | | 7,280,000 | 5,595,394 |
| Royal Caribbean Cruises, Ltd. (B) | 5.500 | 04-01-28 | | 12,760,000 | 9,633,800 |
| Royal Caribbean Cruises, Ltd. (B) | 11.625 | 08-15-27 | | 2,691,000 | 2,637,611 |
| Travel + Leisure Company (B) | 4.500 | 12-01-29 | | 9,282,000 | 7,546,059 |
| Travel + Leisure Company (B) | 6.625 | 07-31-26 | | 3,876,000 | 3,756,115 |
| Wyndham Hotels & Resorts, Inc. (B) | 4.375 | 08-15-28 | | 6,920,000 | 6,188,996 |
| Yum! Brands, Inc. | 3.625 | 03-15-31 | | 18,845,000 | 15,871,243 |
| Yum! Brands, Inc. | 4.625 | 01-31-32 | | 9,070,000 | 8,013,073 |
| Yum! Brands, Inc. (B) | 4.750 | 01-15-30 | | 13,325,000 | 12,142,406 |
| Internet and direct marketing retail 0.2% | | | |
| MercadoLibre, Inc. | 2.375 | 01-14-26 | | 5,950,000 | 5,313,765 |
| MercadoLibre, Inc. | 3.125 | 01-14-31 | | 3,340,000 | 2,624,572 |
| Consumer staples 3.0% | | | | 117,617,530 |
| Beverages 0.2% | | | |
| Becle SAB de CV (B) | 2.500 | 10-14-31 | | 8,250,000 | 6,773,250 |
| Food products 2.6% | | | |
| Darling Ingredients, Inc. (B) | 6.000 | 06-15-30 | | 7,525,000 | 7,534,482 |
| JBS USA LUX SA (B) | 3.625 | 01-15-32 | | 10,670,000 | 9,229,657 |
| JBS USA LUX SA (B) | 5.750 | 04-01-33 | | 7,695,000 | 7,665,528 |
| Kraft Heinz Foods Company | 3.000 | 06-01-26 | | 7,061,000 | 6,684,499 |
| Kraft Heinz Foods Company | 3.875 | 05-15-27 | | 3,905,000 | 3,773,769 |
| 16 | JOHN HANCOCK STRATEGIC INCOME OPPORTUNITIES FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Consumer staples (continued) | | | | |
| Food products (continued) | | | |
| Kraft Heinz Foods Company | 4.250 | 03-01-31 | | 10,895,000 | $10,352,095 |
| Kraft Heinz Foods Company | 4.375 | 06-01-46 | | 2,935,000 | 2,493,222 |
| Kraft Heinz Foods Company | 4.625 | 10-01-39 | | 11,120,000 | 9,908,827 |
| Kraft Heinz Foods Company | 6.875 | 01-26-39 | | 6,560,000 | 7,195,835 |
| Kraft Heinz Foods Company (B) | 7.125 | 08-01-39 | | 1,675,000 | 1,864,694 |
| MARB BondCo PLC (B) | 3.950 | 01-29-31 | | 12,546,000 | 9,895,658 |
| NBM US Holdings, Inc. (B) | 7.000 | 05-14-26 | | 2,929,000 | 2,927,921 |
| Post Holdings, Inc. (B) | 4.500 | 09-15-31 | | 7,390,000 | 6,283,495 |
| Post Holdings, Inc. (B) | 5.500 | 12-15-29 | | 3,230,000 | 2,959,988 |
| Post Holdings, Inc. (B) | 5.625 | 01-15-28 | | 12,510,000 | 11,884,500 |
| Personal products 0.2% | | | |
| Natura & Company Luxembourg Holdings Sarl (B)(C) | 6.000 | 04-19-29 | | 4,015,000 | 3,553,074 |
| Natura Cosmeticos SA (B) | 4.125 | 05-03-28 | | 8,030,000 | 6,637,036 |
| Energy 6.2% | | | | 243,244,962 |
| Oil, gas and consumable fuels 6.2% | | | |
| Aker BP ASA (B) | 3.750 | 01-15-30 | | 8,430,000 | 7,576,800 |
| Cenovus Energy, Inc. | 3.500 | 02-07-28 | CAD | 5,175,000 | 3,683,358 |
| Cenovus Energy, Inc. | 5.250 | 06-15-37 | | 2,074,000 | 1,990,316 |
| Cenovus Energy, Inc. | 5.400 | 06-15-47 | | 8,203,000 | 7,948,941 |
| Cenovus Energy, Inc. | 6.750 | 11-15-39 | | 18,593,000 | 20,324,954 |
| Cheniere Energy Partners LP | 4.000 | 03-01-31 | | 13,025,000 | 11,413,156 |
| Cheniere Energy Partners LP | 4.500 | 10-01-29 | | 4,045,000 | 3,724,737 |
| Continental Resources, Inc. (B) | 2.875 | 04-01-32 | | 12,374,000 | 9,650,291 |
| Continental Resources, Inc. (B) | 5.750 | 01-15-31 | | 15,241,000 | 14,588,127 |
| Ecopetrol SA | 4.625 | 11-02-31 | | 4,570,000 | 3,566,270 |
| Ecopetrol SA | 5.375 | 06-26-26 | | 2,445,000 | 2,296,002 |
| Ecopetrol SA | 5.875 | 05-28-45 | | 2,485,000 | 1,714,973 |
| Ecopetrol SA | 6.875 | 04-29-30 | | 4,970,000 | 4,619,565 |
| Enbridge, Inc. | 3.125 | 11-15-29 | | 10,080,000 | 9,109,897 |
| EQT Corp. (B) | 3.125 | 05-15-26 | | 1,990,000 | 1,872,676 |
| EQT Corp. (B) | 3.625 | 05-15-31 | | 23,315,000 | 20,581,433 |
| EQT Corp. | 3.900 | 10-01-27 | | 3,283,000 | 3,107,753 |
| Inversiones Latin America Power, Ltda. (B) | 5.125 | 06-15-33 | | 6,111,770 | 3,361,752 |
| Kinder Morgan, Inc. | 5.300 | 12-01-34 | | 2,405,000 | 2,353,763 |
| MC Brazil Downstream Trading SARL (B) | 7.250 | 06-30-31 | | 10,290,000 | 8,605,013 |
| Medco Oak Tree Pte, Ltd. (B) | 7.375 | 05-14-26 | | 12,545,000 | 11,917,750 |
| Occidental Petroleum Corp. | 3.200 | 08-15-26 | | 1,560,000 | 1,474,200 |
| Occidental Petroleum Corp. | 3.400 | 04-15-26 | | 2,417,000 | 2,320,290 |
| Occidental Petroleum Corp. | 6.125 | 01-01-31 | | 7,895,000 | 8,204,950 |
| Occidental Petroleum Corp. | 6.625 | 09-01-30 | | 11,815,000 | 12,621,965 |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK STRATEGIC INCOME OPPORTUNITIES FUND | 17 |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Energy (continued) | | | | |
| Oil, gas and consumable fuels (continued) | | | |
| Occidental Petroleum Corp. | 7.500 | 05-01-31 | | 3,470,000 | $3,908,591 |
| Ovintiv, Inc. | 6.500 | 08-15-34 | | 8,760,000 | 9,038,183 |
| Ovintiv, Inc. | 6.500 | 02-01-38 | | 5,700,000 | 5,839,798 |
| Pertamina Persero PT (B) | 3.100 | 01-21-30 | | 2,700,000 | 2,413,241 |
| Pertamina Persero PT (B)(C) | 3.650 | 07-30-29 | | 3,440,000 | 3,241,749 |
| Petrorio Luxembourg Trading Sarl (B) | 6.125 | 06-09-26 | | 5,350,000 | 5,000,836 |
| Qatar Energy (B) | 2.250 | 07-12-31 | | 3,925,000 | 3,422,090 |
| Qatar Energy (B) | 3.300 | 07-12-51 | | 3,105,000 | 2,472,356 |
| Southwestern Energy Company | 5.700 | 01-23-25 | | 166,000 | 166,002 |
| The Williams Companies, Inc. | 3.500 | 11-15-30 | | 865,000 | 778,117 |
| TransCanada PipeLines, Ltd. | 1.000 | 10-12-24 | | 6,470,000 | 6,031,274 |
| TransCanada PipeLines, Ltd. | 4.100 | 04-15-30 | | 13,295,000 | 12,636,562 |
| Transcontinental Gas Pipe Line Company LLC | 3.250 | 05-15-30 | | 875,000 | 782,118 |
| Western Midstream Operating LP | 4.300 | 02-01-30 | | 9,845,000 | 8,885,113 |
| Financials 8.1% | | | | 319,929,395 |
| Banks 4.7% | | | |
| Asian Development Bank | 3.000 | 10-14-26 | AUD | 5,880,000 | 3,869,290 |
| Banco Actinver SA (B) | 4.800 | 12-18-32 | | 2,360,000 | 1,416,000 |
| Banco Actinver SA (B) | 9.500 | 12-18-32 | MXN | 138,600,000 | 3,957,494 |
| Banco Santander SA (4.750% to 11-12-26, then 5 Year CMT + 3.753%) (D) | 4.750 | 11-12-26 | | 4,200,000 | 3,347,400 |
| Barclays PLC (4.375% to 3-15-28, then 5 Year CMT + 3.410%) (D) | 4.375 | 03-15-28 | | 4,037,000 | 3,028,734 |
| BNG Bank NV | 0.250 | 06-07-24 | EUR | 3,800,000 | 3,708,263 |
| Citigroup, Inc. (3 month EURIBOR + 0.500%) (E) | 0.331 | 03-21-23 | EUR | 4,120,000 | 4,144,039 |
| European Investment Bank (SONIA + 0.350%) (E) | 1.706 | 06-29-23 | GBP | 6,180,000 | 7,195,104 |
| ING Groep NV (5.750% to 11-16-26, then 5 Year CMT + 4.342%) (D) | 5.750 | 11-16-26 | | 8,266,000 | 7,626,790 |
| Inter-American Development Bank | 2.700 | 01-29-26 | AUD | 5,932,000 | 3,897,223 |
| Inter-American Development Bank | 2.750 | 10-30-25 | AUD | 5,140,000 | 3,401,758 |
| International Bank for Reconstruction & Development | 1.800 | 01-19-27 | CAD | 6,585,000 | 4,629,731 |
| International Bank for Reconstruction & Development | 1.900 | 01-16-25 | CAD | 15,730,000 | 11,451,335 |
| 18 | JOHN HANCOCK STRATEGIC INCOME OPPORTUNITIES FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Financials (continued) | | | | |
| Banks (continued) | | | |
| International Bank for Reconstruction & Development | 2.875 | 11-30-26 | NZD | 7,530,000 | $4,327,519 |
| International Finance Corp. | 0.375 | 09-10-25 | NZD | 12,980,000 | 7,030,026 |
| International Finance Corp. | 2.550 | 09-18-23 | CNY | 32,140,000 | 4,655,947 |
| International Finance Corp. | 3.600 | 02-24-26 | AUD | 14,185,000 | 9,611,822 |
| Intesa Sanpaolo SpA (4.198% to 6-1-31, then 1 Year CMT + 2.600%) (B) | 4.198 | 06-01-32 | | 7,674,000 | 5,583,786 |
| Lloyds Banking Group PLC (7.500% to 9-27-25, then 5 Year U.S. Swap Rate + 4.496%) (D) | 7.500 | 09-27-25 | | 3,359,000 | 3,256,349 |
| NatWest Group PLC (4.600% to 6-28-31, then 5 Year CMT + 3.100%) (D) | 4.600 | 06-28-31 | | 3,486,000 | 2,613,550 |
| Nordea Eiendomskreditt AS (3 month NIBOR + 0.300%) (E) | 1.720 | 06-21-23 | NOK | 88,000,000 | 8,866,723 |
| Nordea Eiendomskreditt AS (3 month NIBOR + 0.340%) (E) | 1.780 | 06-19-24 | NOK | 110,000,000 | 11,097,350 |
| Nordic Investment Bank | 1.875 | 04-10-24 | NOK | 46,090,000 | 4,504,834 |
| Popular, Inc. (C) | 6.125 | 09-14-23 | | 17,095,000 | 17,313,987 |
| QNB Finance, Ltd. | 3.500 | 03-28-24 | | 4,285,000 | 4,235,345 |
| Royal Bank of Canada (4.200% to 2-24-27, then 5 Year Canada Government Bond Yield + 2.710%) (D) | 4.200 | 02-24-27 | CAD | 6,420,000 | 4,172,426 |
| Shinhan Financial Group Company, Ltd. (2.875% to 5-12-26, then 5 Year CMT + 2.064%) (B)(D) | 2.875 | 05-12-26 | | 9,105,000 | 8,033,159 |
| Societe Generale SA (6.750% to 4-6-28, then 5 Year U.S. Swap Rate + 3.929%) (B)(D) | 6.750 | 04-06-28 | | 1,550,000 | 1,393,085 |
| U.S. Bancorp | 0.850 | 06-07-24 | EUR | 18,550,000 | 18,096,089 |
| U.S. Bancorp (3.700% to 1-15-27, then 5 Year CMT + 2.541%) (D) | 3.700 | 01-15-27 | | 10,827,000 | 9,059,936 |
| Capital markets 1.3% | | | |
| Deutsche Bank AG (6.000% to 10-30-25, then 5 Year CMT + 4.524%) (D) | 6.000 | 10-30-25 | | 2,400,000 | 1,954,800 |
| MSCI, Inc. (B) | 3.250 | 08-15-33 | | 4,130,000 | 3,277,960 |
| MSCI, Inc. (B) | 3.625 | 09-01-30 | | 15,070,000 | 12,783,644 |
| MSCI, Inc. (B) | 3.625 | 11-01-31 | | 8,740,000 | 7,281,313 |
| MSCI, Inc. (B) | 3.875 | 02-15-31 | | 7,940,000 | 6,804,122 |
| The Goldman Sachs Group, Inc. | 1.375 | 05-15-24 | EUR | 7,713,000 | 7,687,718 |
| The Goldman Sachs Group, Inc. | 2.000 | 11-01-28 | EUR | 2,510,000 | 2,290,374 |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK STRATEGIC INCOME OPPORTUNITIES FUND | 19 |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Financials (continued) | | | | |
| Capital markets (continued) | | | |
| The Goldman Sachs Group, Inc. | 3.375 | 03-27-25 | EUR | 1,960,000 | $1,991,810 |
| UBS Group AG (3.875% to 6-2-26, then 5 Year CMT + 3.098%) (B)(D) | 3.875 | 06-02-26 | | 4,967,000 | 4,131,526 |
| UBS Group AG (4.375% to 2-10-31, then 5 Year CMT + 3.313%) (B)(D) | 4.375 | 02-10-31 | | 3,587,000 | 2,700,904 |
| Consumer finance 0.0% | | | |
| Capital One Financial Corp. | 0.800 | 06-12-24 | EUR | 1,100,000 | 1,058,519 |
| Diversified financial services 0.9% | | | |
| Berkshire Hathaway Finance Corp. | 2.375 | 06-19-39 | GBP | 7,150,000 | 6,365,736 |
| Berkshire Hathaway, Inc., Zero Coupon | 0.000 | 03-12-25 | EUR | 10,945,000 | 10,367,697 |
| Mexico Remittances Funding Fiduciary Estate Management Sarl (B) | 4.875 | 01-15-28 | | 6,450,000 | 5,440,709 |
| Swiss Insured Brazil Power Finance Sarl (B) | 9.850 | 07-16-32 | BRL | 88,151,060 | 15,249,876 |
| Insurance 1.1% | | | |
| American International Group, Inc. (8.175% to 5-15-38, then 3 month LIBOR + 4.195%) | 8.175 | 05-15-58 | | 15,170,000 | 17,862,675 |
| Chubb INA Holdings, Inc. | 0.300 | 12-15-24 | EUR | 9,990,000 | 9,541,954 |
| DB Insurance Company, Ltd. | 3.512 | 05-25-24 | KRW | 10,000,000,000 | 7,328,101 |
| DB Insurance Company, Ltd. | 3.865 | 05-25-27 | KRW | 10,000,000,000 | 7,152,063 |
| Mortgage real estate investment trusts 0.1% | | | |
| Starwood Property Trust, Inc. (B) | 4.375 | 01-15-27 | | 3,520,000 | 3,132,800 |
| Health care 4.1% | | | | 161,202,702 |
| Health care equipment and supplies 0.9% | | | |
| Becton Dickinson Euro Finance Sarl | 1.208 | 06-04-26 | EUR | 8,910,000 | 8,377,787 |
| DH Europe Finance II Sarl | 0.450 | 03-18-28 | EUR | 14,445,000 | 12,671,976 |
| Stryker Corp. | 0.600 | 12-01-23 | | 2,055,000 | 1,973,540 |
| Stryker Corp. | 1.150 | 06-15-25 | | 6,455,000 | 5,960,037 |
| Zimmer Biomet Holdings, Inc. | 1.450 | 11-22-24 | | 6,455,000 | 6,066,920 |
| Health care providers and services 2.6% | | | |
| Centene Corp. | 2.500 | 03-01-31 | | 9,265,000 | 7,392,729 |
| Centene Corp. | 3.000 | 10-15-30 | | 15,295,000 | 12,783,561 |
| Centene Corp. | 3.375 | 02-15-30 | | 16,980,000 | 14,560,350 |
| Centene Corp. | 4.625 | 12-15-29 | | 2,625,000 | 2,472,855 |
| HCA, Inc. | 3.500 | 09-01-30 | | 33,881,000 | 29,566,007 |
| HCA, Inc. | 4.125 | 06-15-29 | | 13,845,000 | 12,744,822 |
| HCA, Inc. | 5.375 | 02-01-25 | | 11,065,000 | 11,170,118 |
| 20 | JOHN HANCOCK STRATEGIC INCOME OPPORTUNITIES FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Health care (continued) | | | | |
| Health care providers and services (continued) | | | |
| Rede D’or Finance Sarl (B) | 4.500 | 01-22-30 | | 4,134,000 | $3,658,590 |
| Rede D’or Finance Sarl (B)(C) | 4.950 | 01-17-28 | | 4,356,000 | 4,078,305 |
| UnitedHealth Group, Inc. | 0.550 | 05-15-24 | | 4,035,000 | 3,837,499 |
| Life sciences tools and services 0.3% | | | |
| Thermo Fisher Scientific, Inc. | 0.500 | 03-01-28 | EUR | 6,585,000 | 5,859,505 |
| Thermo Fisher Scientific, Inc. | 0.750 | 09-12-24 | EUR | 3,288,000 | 3,216,807 |
| Thermo Fisher Scientific, Inc. | 1.400 | 01-23-26 | EUR | 4,947,000 | 4,781,091 |
| Pharmaceuticals 0.3% | | | |
| Allergan Funding SCS | 1.250 | 06-01-24 | EUR | 6,760,000 | 6,504,053 |
| Allergan Funding SCS | 2.625 | 11-15-28 | EUR | 3,795,000 | 3,526,150 |
| Industrials 4.1% | | | | 160,871,279 |
| Aerospace and defense 1.1% | | | |
| Airbus SE | 1.625 | 06-09-30 | EUR | 2,740,000 | 2,495,663 |
| DAE Funding LLC (B) | 3.375 | 03-20-28 | | 6,635,000 | 5,905,031 |
| The Boeing Company | 5.040 | 05-01-27 | | 11,170,000 | 11,136,404 |
| The Boeing Company | 5.150 | 05-01-30 | | 24,935,000 | 24,541,287 |
| Air freight and logistics 0.3% | | | |
| Hidrovias International Finance SARL (B)(C) | 4.950 | 02-08-31 | | 3,515,000 | 2,776,850 |
| Simpar Europe SA (B) | 5.200 | 01-26-31 | | 3,245,000 | 2,633,350 |
| Simpar Finance Sarl (B) | 10.750 | 02-12-28 | BRL | 30,765,000 | 4,690,929 |
| Airlines 1.6% | | | |
| American Airlines, Inc. (B) | 5.500 | 04-20-26 | | 9,940,000 | 9,455,723 |
| American Airlines, Inc. (B) | 5.750 | 04-20-29 | | 8,095,000 | 7,307,680 |
| Delta Air Lines 2020-1 Class A Pass Through Trust | 2.500 | 06-10-28 | | 4,948,464 | 4,250,792 |
| Delta Air Lines, Inc. | 2.900 | 10-28-24 | | 5,260,000 | 4,929,488 |
| Delta Air Lines, Inc. (B) | 4.500 | 10-20-25 | | 2,110,000 | 2,066,740 |
| Delta Air Lines, Inc. (B) | 4.750 | 10-20-28 | | 32,713,000 | 31,251,895 |
| Delta Air Lines, Inc. (C) | 7.375 | 01-15-26 | | 1,655,000 | 1,688,100 |
| Singapore Airlines, Ltd. | 3.375 | 01-19-29 | | 3,216,000 | 2,945,394 |
| Building products 0.1% | | | |
| Johnson Controls International PLC | 0.375 | 09-15-27 | EUR | 2,590,000 | 2,258,705 |
| Construction and engineering 0.2% | | | |
| AECOM | 5.125 | 03-15-27 | | 8,062,000 | 7,820,140 |
| Road and rail 0.3% | | | |
| Canadian Pacific Railway Company | 1.350 | 12-02-24 | | 3,210,000 | 3,014,972 |
| Indian Railway Finance Corp., Ltd. (B) | 3.249 | 02-13-30 | | 7,580,000 | 6,629,801 |
| Movida Europe SA (B) | 5.250 | 02-08-31 | | 2,480,000 | 2,018,086 |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK STRATEGIC INCOME OPPORTUNITIES FUND | 21 |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Industrials (continued) | | | | |
| Trading companies and distributors 0.5% | | | |
| United Rentals North America, Inc. | 3.875 | 02-15-31 | | 11,355,000 | $9,818,101 |
| United Rentals North America, Inc. | 4.000 | 07-15-30 | | 7,265,000 | 6,310,753 |
| United Rentals North America, Inc. | 4.875 | 01-15-28 | | 5,270,000 | 4,925,395 |
| Information technology 1.2% | | | | 44,930,056 |
| IT services 0.6% | | | |
| Fidelity National Information Services, Inc. | 1.000 | 12-03-28 | EUR | 4,800,000 | 4,100,462 |
| Fidelity National Information Services, Inc. | 1.500 | 05-21-27 | EUR | 9,625,000 | 8,880,314 |
| Fiserv, Inc. | 1.125 | 07-01-27 | EUR | 3,495,000 | 3,173,680 |
| Gartner, Inc. (B) | 3.750 | 10-01-30 | | 5,220,000 | 4,476,150 |
| Semiconductors and semiconductor equipment 0.1% | | | |
| SK Hynix, Inc. (B) | 1.500 | 01-19-26 | | 4,935,000 | 4,377,179 |
| Technology hardware, storage and peripherals 0.5% | | | |
| Apple, Inc. | 0.875 | 05-24-25 | EUR | 9,831,000 | 9,584,280 |
| Atento Luxco 1 SA (B) | 8.000 | 02-10-26 | | 4,968,000 | 2,334,960 |
| CDW LLC | 4.250 | 04-01-28 | | 1,655,000 | 1,532,017 |
| Dell International LLC | 8.350 | 07-15-46 | | 5,348,000 | 6,471,014 |
| Materials 4.2% | | | | 163,616,409 |
| Chemicals 0.8% | | | |
| Braskem Idesa SAPI (B) | 6.990 | 02-20-32 | | 5,090,000 | 3,944,750 |
| Braskem Netherlands Finance BV (B) | 4.500 | 01-31-30 | | 5,509,000 | 4,889,238 |
| Braskem Netherlands Finance BV (B)(C) | 5.875 | 01-31-50 | | 6,055,000 | 4,934,825 |
| Ecolab, Inc. | 1.000 | 01-15-24 | EUR | 4,270,000 | 4,246,151 |
| FS Luxembourg Sarl (B) | 10.000 | 12-15-25 | | 8,820,000 | 9,089,468 |
| Westlake Corp. | 0.875 | 08-15-24 | | 4,840,000 | 4,572,342 |
| Construction materials 0.5% | | | |
| Cemex SAB de CV (B) | 3.875 | 07-11-31 | | 12,495,000 | 10,521,602 |
| St. Mary’s Cement, Inc. (B) | 5.750 | 01-28-27 | | 7,505,000 | 7,569,244 |
| Containers and packaging 1.2% | | | |
| Ardagh Metal Packaging Finance USA LLC (B) | 3.250 | 09-01-28 | | 9,710,000 | 8,374,875 |
| Ball Corp. | 2.875 | 08-15-30 | | 10,485,000 | 8,504,069 |
| Ball Corp. | 4.875 | 03-15-26 | | 8,590,000 | 8,312,328 |
| Ball Corp. | 5.250 | 07-01-25 | | 10,520,000 | 10,493,805 |
| Berry Global, Inc. (B) | 5.625 | 07-15-27 | | 6,805,000 | 6,645,083 |
| Sealed Air Corp. (B)(C) | 5.000 | 04-15-29 | | 4,410,000 | 4,189,500 |
| 22 | JOHN HANCOCK STRATEGIC INCOME OPPORTUNITIES FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Materials (continued) | | | | |
| Metals and mining 1.7% | | | |
| Cleveland-Cliffs, Inc. (B)(C) | 4.625 | 03-01-29 | | 14,925,000 | $13,249,296 |
| Cleveland-Cliffs, Inc. (B)(C) | 4.875 | 03-01-31 | | 8,180,000 | 7,141,263 |
| FMG Resources August 2006 Proprietary, Ltd. (B) | 4.375 | 04-01-31 | | 8,915,000 | 7,271,787 |
| Freeport-McMoRan, Inc. | 4.125 | 03-01-28 | | 1,430,000 | 1,339,181 |
| Freeport-McMoRan, Inc. (C) | 4.625 | 08-01-30 | | 10,030,000 | 9,285,095 |
| Freeport-McMoRan, Inc. | 5.450 | 03-15-43 | | 19,505,000 | 17,558,869 |
| Indonesia Asahan Aluminium Persero PT (B) | 4.750 | 05-15-25 | | 11,455,000 | 11,483,638 |
| Real estate 1.7% | | | | 66,151,063 |
| Equity real estate investment trusts 1.7% | | | |
| American Tower Corp. | 0.500 | 01-15-28 | EUR | 2,845,000 | 2,410,195 |
| American Tower Corp. | 1.950 | 05-22-26 | EUR | 3,650,000 | 3,510,294 |
| Crown Castle, Inc. | 1.350 | 07-15-25 | | 1,606,000 | 1,471,653 |
| Crown Castle, Inc. | 2.250 | 01-15-31 | | 2,550,000 | 2,070,931 |
| Host Hotels & Resorts LP | 3.375 | 12-15-29 | | 7,065,000 | 6,045,978 |
| Host Hotels & Resorts LP | 3.500 | 09-15-30 | | 2,575,000 | 2,182,119 |
| SBA Communications Corp. | 3.125 | 02-01-29 | | 9,770,000 | 8,049,747 |
| SBA Communications Corp. | 3.875 | 02-15-27 | | 22,055,000 | 20,076,159 |
| VICI Properties LP (B) | 4.125 | 08-15-30 | | 9,945,000 | 8,744,181 |
| VICI Properties LP (B) | 4.625 | 12-01-29 | | 4,345,000 | 4,013,694 |
| VICI Properties LP | 5.125 | 05-15-32 | | 7,950,000 | 7,576,112 |
| Utilities 2.3% | | | | 91,656,933 |
| Electric utilities 1.2% | | | |
| Chile Electricity PEC SpA (B)(F) | 6.436 | 01-25-28 | | 2,925,000 | 2,078,107 |
| EDP Finance BV | 0.375 | 09-16-26 | EUR | 1,315,000 | 1,197,367 |
| FirstEnergy Corp. | 4.400 | 07-15-27 | | 9,045,000 | 8,570,138 |
| FirstEnergy Corp. | 7.375 | 11-15-31 | | 12,300,000 | 14,435,096 |
| Israel Electric Corp., Ltd. (B) | 3.750 | 02-22-32 | | 5,380,000 | 4,975,220 |
| Israel Electric Corp., Ltd. (B) | 6.875 | 06-21-23 | | 4,565,000 | 4,655,916 |
| Perusahaan Perseroan Persero PT Perusahaan Listrik Negara (B) | 4.125 | 05-15-27 | | 12,660,000 | 12,255,513 |
| Independent power and renewable electricity producers 0.8% | | | |
| DPL, Inc. | 4.125 | 07-01-25 | | 13,920,000 | 13,134,494 |
| Greenko Dutch BV (B)(C) | 3.850 | 03-29-26 | | 5,892,750 | 4,979,374 |
| Greenko Solar Mauritius, Ltd. (B) | 5.550 | 01-29-25 | | 5,260,000 | 4,760,300 |
| Greenko Wind Projects Mauritius, Ltd. (B) | 5.500 | 04-06-25 | | 7,965,000 | 7,168,500 |
| The AES Corp. (B) | 3.950 | 07-15-30 | | 1,650,000 | 1,507,275 |
| Multi-utilities 0.3% | | | |
| DTE Energy Company | 1.050 | 06-01-25 | | 3,400,000 | 3,111,377 |
| E.ON SE | 0.375 | 09-29-27 | EUR | 3,200,000 | 2,819,635 |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK STRATEGIC INCOME OPPORTUNITIES FUND | 23 |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Utilities (continued) | | | | |
| Multi-utilities (continued) | | | |
| Engie SA | 0.375 | 06-21-27 | EUR | 3,300,000 | $2,942,534 |
|
| WEC Energy Group, Inc. | 0.800 | 03-15-24 | | 3,220,000 | 3,066,087 |
| Convertible bonds 1.9% | | | | $74,418,871 |
| (Cost $83,659,651) | | | | | |
| Communication services 0.6% | | | | 25,895,997 |
| Media 0.6% | | | |
| Liberty Broadband Corp. (B) | 1.250 | 09-30-50 | | 12,375,000 | 11,725,313 |
| Liberty Broadband Corp. (B) | 2.750 | 09-30-50 | | 8,550,000 | 8,280,370 |
| Liberty Media Corp. (B) | 0.500 | 12-01-50 | | 5,085,000 | 5,890,314 |
| Consumer discretionary 0.2% | | | | 6,595,731 |
| Specialty retail 0.2% | | | |
| Burlington Stores, Inc. | 2.250 | 04-15-25 | | 6,365,000 | 6,595,731 |
| Industrials 1.1% | | | | 41,927,143 |
| Airlines 0.9% | | | |
| Air Canada | 4.000 | 07-01-25 | | 5,160,000 | 5,750,820 |
| American Airlines Group, Inc. (C) | 6.500 | 07-01-25 | | 14,450,000 | 15,634,900 |
| Southwest Airlines Company | 1.250 | 05-01-25 | | 9,450,000 | 11,807,775 |
| Road and rail 0.2% | | | |
|
| Uber Technologies, Inc. (F) | 4.727 | 12-15-25 | | 10,190,000 | 8,733,648 |
| Capital preferred securities 0.1% | | | | $5,330,641 |
| (Cost $6,281,380) | | | | | |
| Financials 0.1% | | | | 5,330,641 |
| Banks 0.1% | | | |
|
| USB Capital IX (Greater of 3 month LIBOR + 1.020% or 3.500%) (D)(E) | 3.532 | 10-03-22 | | 7,014,000 | 5,330,641 |
| Term loans (G) 9.1% | | | | | $358,503,244 |
| (Cost $370,169,052) | | | | | |
| Communication services 1.0% | | | 39,760,612 |
| Entertainment 0.2% | | | | |
| WMG Acquisition Corp., 2021 Term Loan G (1 month LIBOR + 2.125%) | 4.649 | 01-20-28 | | 9,805,000 | 9,531,244 |
| Media 0.5% | | | | |
| AP Core Holdings II LLC, Amortization Term Loan B1 (1 month LIBOR + 5.500%) | 8.024 | 09-01-27 | | 7,252,438 | 6,846,301 |
| AP Core Holdings II LLC, High-Yield Term Loan B2 (1 month LIBOR + 5.500%) | 8.024 | 09-01-27 | | 5,215,000 | 4,932,503 |
| 24 | JOHN HANCOCK STRATEGIC INCOME OPPORTUNITIES FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Communication services (continued) | | | |
| Media (continued) | | | | |
| Univision Communications, Inc., 2021 First Lien Term Loan B (1 month LIBOR + 3.250%) | 5.274 | 03-15-26 | | 7,198,821 | $7,021,442 |
| Univision Communications, Inc., 2022 First Lien Term Loan B (3 month SOFR + 4.250%) | 6.254 | 06-08-29 | | 845,000 | 828,100 |
| Wireless telecommunication services 0.3% | | | | |
| SBA Senior Finance II LLC, 2018 Term Loan B (1 month LIBOR + 1.750%) | 4.280 | 04-11-25 | | 10,865,154 | 10,601,022 |
| Consumer discretionary 3.3% | | | 130,386,862 |
| Diversified consumer services 0.3% | | | | |
| APX Group, Inc., 2021 Term Loan B (Prime rate + 2.250% and 1 month LIBOR + 3.250%) | 5.628 | 07-10-28 | | 3,816,163 | 3,710,607 |
| Whatabrands LLC, 2021 Term Loan B (1 month LIBOR + 3.250%) | 5.774 | 08-03-28 | | 8,341,085 | 7,895,337 |
| Hotels, restaurants and leisure 2.1% | | | | |
| Aramark Services, Inc., 2018 Term Loan B3 (1 month LIBOR + 1.750%) | 4.274 | 03-11-25 | | 16,612,000 | 16,362,820 |
| Bally’s Corp., 2021 Term Loan B (1 month LIBOR + 3.250%) | 5.623 | 10-02-28 | | 5,298,375 | 5,041,404 |
| Carnival Corp., 2021 Incremental Term Loan B (6 month LIBOR + 3.250%) | 6.127 | 10-18-28 | | 4,994,900 | 4,645,257 |
| Carnival Corp., USD Term Loan B (6 month LIBOR + 3.000%) | 5.877 | 06-30-25 | | 11,316,300 | 10,757,614 |
| Hilton Grand Vacations Borrower LLC, 2021 Term Loan B (1 month LIBOR + 3.000%) | 5.524 | 08-02-28 | | 1,424,942 | 1,391,698 |
| Hilton Worldwide Finance LLC, 2019 Term Loan B2 (1 month LIBOR + 1.750%) | 4.194 | 06-22-26 | | 7,725,000 | 7,547,325 |
| KFC Holding Company, 2021 Term Loan B (1 month LIBOR + 1.750%) | 4.127 | 03-15-28 | | 16,102,708 | 15,973,887 |
| Marriott Ownership Resorts, Inc., 2019 Term Loan B (1 month LIBOR + 1.750%) | 4.274 | 08-29-25 | | 8,170,000 | 7,949,410 |
| New Red Finance, Inc., Term Loan B4 (1 month LIBOR + 1.750%) | 4.274 | 11-19-26 | | 15,785,850 | 15,308,960 |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK STRATEGIC INCOME OPPORTUNITIES FUND | 25 |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Consumer discretionary (continued) | | | |
| Household durables 0.1% | | | | |
| Hunter Douglas, Inc., USD Term Loan B1 (3 month SOFR + 3.500%) | 6.340 | 02-26-29 | | 6,047,000 | $4,855,127 |
| Specialty retail 0.5% | | | | |
| Burlington Coat Factory Warehouse Corp., 2021 Term Loan B6 (1 month LIBOR + 2.000%) | 4.530 | 06-24-28 | | 9,682,200 | 9,480,520 |
| RH, Term Loan B (1 month LIBOR + 2.500%) | 5.024 | 10-20-28 | | 9,576,692 | 8,800,980 |
| Textiles, apparel and luxury goods 0.3% | | | | |
| Patagonia Holdco LLC, Term Loan B (3 month SOFR + 5.750%) | 8.386 | 08-01-29 | | 6,305,000 | 5,332,958 |
| Patagonia Holdco LLC, Term Loan B1 (3 month SOFR + 5.750%) | 8.386 | 08-01-29 | | 6,305,000 | 5,332,958 |
| Energy 0.4% | | | 14,039,507 |
| Oil, gas and consumable fuels 0.4% | | | | |
| Pilot Travel Centers LLC, 2021 Term Loan B (1 month SOFR + 2.000%) | 4.555 | 08-04-28 | | 14,339,050 | 14,039,507 |
| Financials 0.3% | | | 10,290,065 |
| Insurance 0.3% | | | | |
| Asurion LLC, 2021 Second Lien Term Loan B4 (1 month LIBOR + 5.250%) | 7.774 | 01-20-29 | | 6,760,000 | 5,737,550 |
| Asurion LLC, 2021 Term Loan B9 (1 month LIBOR + 3.250%) | 5.774 | 07-31-27 | | 4,984,524 | 4,552,515 |
| Health care 1.5% | | | 59,242,957 |
| Biotechnology 0.2% | | | | |
| Grifols Worldwide Operations USA, Inc., USD 2019 Term Loan B (1 month LIBOR + 2.000%) | 4.524 | 11-15-27 | | 7,930,000 | 7,656,891 |
| Health care equipment and supplies 0.3% | | | | |
| Medline Borrower LP, USD Term Loan B (1 month LIBOR + 3.250%) | 5.774 | 10-23-28 | | 12,782,963 | 12,173,471 |
| Health care technology 0.1% | | | | |
| athenahealth, Inc., 2022 Term Loan B (1 month SOFR + 3.500%) | 5.800 | 02-15-29 | | 2,806,000 | 2,679,730 |
| Life sciences tools and services 0.2% | | | | |
| ICON Luxembourg Sarl, LUX Term Loan (3 month LIBOR + 2.250%) | 4.563 | 07-03-28 | | 6,760,269 | 6,647,034 |
| 26 | JOHN HANCOCK STRATEGIC INCOME OPPORTUNITIES FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Health care (continued) | | | |
| Life sciences tools and services (continued) | | | | |
| ICON Luxembourg Sarl, US Term Loan (3 month LIBOR + 2.250%) | 4.563 | 07-03-28 | | 1,669,187 | $1,641,228 |
| Pharmaceuticals 0.7% | | | | |
| Jazz Financing Lux Sarl, USD Term Loan (1 month LIBOR + 3.500%) | 6.024 | 05-05-28 | | 8,540,850 | 8,366,958 |
| Organon & Company, USD Term Loan (3 month LIBOR + 3.000%) | 4.625 | 06-02-28 | | 12,827,385 | 12,667,043 |
| Padagis LLC, Term Loan B (3 month LIBOR + 4.750%) | 7.043 | 07-06-28 | | 7,193,412 | 6,581,972 |
| Perrigo Investments LLC, Term Loan B (H) | TBD | 04-20-29 | | 837,000 | 828,630 |
| Industrials 2.1% | | | 84,580,775 |
| Airlines 1.2% | | | | |
| AAdvantage Loyalty IP, Ltd., 2021 Term Loan (3 month LIBOR + 4.750%) | 7.460 | 04-20-28 | | 14,920,000 | 14,665,166 |
| Air Canada, 2021 Term Loan B (3 month LIBOR + 3.500%) | 6.421 | 08-11-28 | | 9,450,000 | 9,120,951 |
| Mileage Plus Holdings LLC, 2020 Term Loan B (3 month LIBOR + 5.250%) | 7.313 | 06-21-27 | | 8,835,000 | 8,960,634 |
| United Airlines, Inc., 2021 Term Loan B (1 month LIBOR + 3.750%) | 6.533 | 04-21-28 | | 14,772,577 | 14,337,672 |
| Building products 0.1% | | | | |
| JELD-WEN, Inc., 2021 Term Loan B (1 month LIBOR + 2.250%) | 4.743 | 07-28-28 | | 3,494,700 | 3,266,077 |
| Commercial services and supplies 0.1% | | | | |
| Clean Harbors, Inc., 2021 Incremental Term Loan B (1 month LIBOR + 2.000%) | 4.524 | 10-08-28 | | 1,779,850 | 1,767,622 |
| MillerKnoll, Inc., Term Loan B (1 month LIBOR + 2.000%) | 4.524 | 07-19-28 | | 4,391,825 | 4,249,091 |
| Machinery 0.1% | | | | |
| Brown Group Holding LLC, Term Loan B (1 month LIBOR + 2.500%) | 5.024 | 06-07-28 | | 5,426,893 | 5,327,418 |
| Professional services 0.1% | | | | |
| Trans Union LLC, 2021 Term Loan B6 (1 month LIBOR + 2.250%) | 4.774 | 12-01-28 | | 2,286,058 | 2,240,748 |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK STRATEGIC INCOME OPPORTUNITIES FUND | 27 |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Industrials (continued) | | | |
| Road and rail 0.5% | | | | |
| Avis Budget Car Rental LLC, 2022 Term Loan C (1 month SOFR + 3.500%) | 6.059 | 03-16-29 | | 4,837,875 | $4,732,071 |
| The Hertz Corp., 2021 Term Loan B (1 month LIBOR + 3.250%) | 5.780 | 06-30-28 | | 12,729,970 | 12,409,684 |
| The Hertz Corp., 2021 Term Loan C (1 month LIBOR + 3.250%) | 5.780 | 06-30-28 | | 2,423,420 | 2,362,447 |
| Trading companies and distributors 0.0% | | | | |
| Setanta Aircraft Leasing DAC, Term Loan B (3 month LIBOR + 2.000%) | 4.250 | 11-05-28 | | 1,163,000 | 1,141,194 |
| Information technology 0.2% | | | 9,667,002 |
| Software 0.2% | | | | |
| Central Parent, Inc., 2022 USD Term Loan B (3 month SOFR + 4.500%) | 6.610 | 07-06-29 | | 2,505,000 | 2,438,542 |
| Quest Software, Inc., 2022 Term Loan (3 month SOFR + 4.250%) | 5.780 | 02-01-29 | | 7,975,000 | 7,228,460 |
| Materials 0.3% | | | 10,535,464 |
| Containers and packaging 0.3% | | | | |
|
| Berry Global, Inc., 2021 Term Loan Z (3 month LIBOR + 1.750%) | 4.178 | 07-01-26 | | 10,790,000 | 10,535,464 |
| Collateralized mortgage obligations 4.2% | | | | $165,586,080 |
| (Cost $167,308,927) | | | | | |
| Commercial and residential 2.7% | | | | 107,289,704 |
| Arroyo Mortgage Trust | |
| Series 2019-1, Class A1 (B)(I) | 3.805 | 01-25-49 | | 4,231,553 | 4,059,793 |
| BOCA Commercial Mortgage Trust | |
| Series 2022-BOCA, Class B (1 month CME Term SOFR + 2.319%) (B)(E) | 4.627 | 05-15-39 | | 3,145,000 | 3,081,363 |
| BX Commercial Mortgage Trust | |
| Series 2019-XL, Class A (1 month LIBOR + 0.920%) (B)(E) | 3.311 | 10-15-36 | | 16,993,307 | 16,791,075 |
| Series 2021-CIP, Class A (1 month LIBOR + 0.921%) (B)(E) | 3.312 | 12-15-38 | | 4,955,000 | 4,806,352 |
| Series 2021-VOLT, Class A (1 month LIBOR + 0.700%) (B)(E) | 3.091 | 09-15-36 | | 5,650,000 | 5,457,973 |
| CAMB Commercial Mortgage Trust | |
| Series 2019-LIFE, Class A (1 month LIBOR + 1.070%) (B)(E) | 3.461 | 12-15-37 | | 3,840,900 | 3,792,881 |
| 28 | JOHN HANCOCK STRATEGIC INCOME OPPORTUNITIES FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Commercial and residential (continued) | | | | |
| COLT Mortgage Loan Trust | |
| Series 2022-5, Class A1 (B)(I) | 4.550 | 04-25-67 | | 3,871,666 | $3,784,902 |
| Credit Suisse Mortgage Capital Certificates | |
| Series 2019-ICE4, Class A (1 month LIBOR + 0.980%) (B)(E) | 3.371 | 05-15-36 | | 10,930,000 | 10,805,564 |
| Series 2019-NQM1, Class A1 (2.656% to 11-1-23, then 3.656% thereafter) (B) | 2.656 | 10-25-59 | | 1,168,521 | 1,123,092 |
| GCAT Trust | |
| Series 2022-NQM4, Class A1 (B)(I) | 5.269 | 09-25-67 | | 4,205,000 | 4,197,634 |
| HarborView Mortgage Loan Trust | |
| Series 2007-3, Class ES IO (B) | 0.350 | 05-19-47 | | 3,455,147 | 35,869 |
| Series 2007-4, Class ES IO | 0.350 | 07-19-47 | | 3,638,973 | 47,693 |
| Series 2007-6, Class ES IO (B) | 0.343 | 08-19-37 | | 3,731,640 | 47,088 |
| InTown Mortgage Trust | |
| Series 2022-STAY, Class B (1 month CME Term SOFR + 3.286%) (B)(E) | 5.536 | 08-15-37 | | 6,535,000 | 6,494,492 |
| Life Mortgage Trust | |
| Series 2022-BMR2, Class A1 (1 month CME Term SOFR + 1.295%) (B)(E) | 3.603 | 05-15-39 | | 12,924,000 | 12,681,030 |
| Series 2022-BMR2, Class B (1 month CME Term SOFR + 1.794%) (B)(E) | 4.101 | 05-15-39 | | 11,605,000 | 11,354,814 |
| Series 2022-BMR2, Class D (1 month CME Term SOFR + 2.542%) (B)(E) | 4.849 | 05-15-39 | | 9,305,000 | 8,956,080 |
| Morgan Stanley Mortgage Loan Trust | |
| Series 2004-9, Class 1A (I) | 5.322 | 11-25-34 | | 854,732 | 860,063 |
| Verus Securitization Trust | |
| Series 2022-4, Class A2 (B)(I) | 4.740 | 04-25-67 | | 5,347,629 | 5,222,192 |
| Series 2022-INV1, Class A1 (B)(I) | 5.041 | 08-25-67 | | 3,705,000 | 3,689,754 |
| U.S. Government Agency 1.5% | | | | 58,296,376 |
| Federal Home Loan Mortgage Corp. | |
| Series 2022-DNA3, Class M1A (1 month SOFR + 2.000%) (B)(E) | 4.183 | 04-25-42 | | 7,560,504 | 7,599,318 |
| Series 2022-DNA4, Class M1A (1 month SOFR + 2.200%) (B)(E) | 4.383 | 05-25-42 | | 8,142,882 | 8,168,055 |
| Series 2022-DNA4, Class M1B (1 month SOFR + 3.350%) (B)(E) | 5.533 | 05-25-42 | | 12,260,000 | 12,260,001 |
| Series 2022-HQA1, Class M1B (1 month SOFR + 3.500%) (B)(E) | 5.683 | 03-25-42 | | 3,825,000 | 3,791,223 |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK STRATEGIC INCOME OPPORTUNITIES FUND | 29 |
| | Rate (%) | Maturity date | | Par value^ | Value |
| U.S. Government Agency (continued) | | | | |
| Series 2022-HQA3, Class M1B (1 month SOFR + 3.550%) (B)(E) | 5.358 | 08-25-42 | | 5,665,000 | $5,608,225 |
| Federal National Mortgage Association | |
| Series 2022-R01, Class 1M1 (1 month SOFR + 1.000%) (B)(E) | 3.183 | 12-25-41 | | 2,300,258 | 2,272,112 |
| Series 2022-R03, Class 1M1 (1 month SOFR + 2.100%) (B)(E) | 4.283 | 03-25-42 | | 1,136,235 | 1,135,701 |
| Series 2022-R04, Class 1M1 (1 month SOFR + 2.000%) (B)(E) | 4.183 | 03-25-42 | | 2,330,751 | 2,328,210 |
| Series 2022-R05, Class 2M2 (1 month SOFR + 3.000%) (B)(E) | 5.183 | 04-25-42 | | 10,960,000 | 10,795,501 |
|
| Series 2022-R06, Class 1M1 (1 month SOFR + 2.750%) (B)(E) | 4.933 | 05-25-42 | | 4,268,002 | 4,338,030 |
| Asset backed securities 1.1% | | | | $40,323,624 |
| (Cost $41,993,546) | | | | | |
| Asset backed securities 1.1% | | | | 40,323,624 |
| DB Master Finance LLC | | | | | |
| Series 2019-1A, Class A2II (B) | 4.021 | 05-20-49 | | 5,679,350 | 5,412,239 |
| Domino’s Pizza Master Issuer LLC | | | | | |
| Series 2015-1A, Class A2II (B) | 4.474 | 10-25-45 | | 5,720,975 | 5,546,903 |
| FirstKey Homes Trust | | | | | |
| Series 2020-SFR2, Class A (B) | 1.266 | 10-19-37 | | 3,656,718 | 3,358,120 |
| Home Partners of America Trust | | | | | |
| Series 2019-1, Class B (B) | 3.157 | 09-17-39 | | 4,088,856 | 3,756,318 |
| Jack in the Box Funding LLC | | | | | |
| Series 2019-1A, Class A2II (B) | 4.476 | 08-25-49 | | 6,909,775 | 6,500,143 |
| MVW Owner Trust | | | | | |
| Series 2018-1A, Class A (B) | 3.450 | 01-21-36 | | 1,986,480 | 1,946,803 |
| Taco Bell Funding LLC | | | | | |
| Series 2016-1A, Class A23 (B) | 4.970 | 05-25-46 | | 13,951,938 | 13,803,098 |
|
| | | | | Shares | Value |
| Common stocks 1.0% | | | | | $37,614,855 |
| (Cost $56,070,165) | | | | | |
| Communication services 0.0% | | | 0 |
| Media 0.0% | | |
| Vertis Holdings, Inc. (J)(K) | | | 110,794 | 0 |
| Consumer discretionary 0.1% | | | 4,401,066 |
| Automobiles 0.1% | | |
| General Motors Company | | | 115,181 | 4,401,066 |
| 30 | JOHN HANCOCK STRATEGIC INCOME OPPORTUNITIES FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
| | | | | Shares | Value |
| Financials 0.2% | | | $5,751,558 |
| Banks 0.2% | | |
| U.S. Bancorp | | | 126,103 | 5,751,558 |
| Industrials 0.3% | | | 11,971,926 |
| Aerospace and defense 0.2% | | |
| The Boeing Company (K) | | | 51,044 | 8,179,801 |
| Airlines 0.1% | | |
| Delta Air Lines, Inc. (K) | | | 122,051 | 3,792,125 |
| Real estate 0.1% | | | 3,701,124 |
| Equity real estate investment trusts 0.1% | | |
| Americold Realty Trust, Inc. | | | 125,803 | 3,701,124 |
| Utilities 0.3% | | | 11,789,181 |
| Multi-utilities 0.3% | | |
|
| Algonquin Power & Utilities Corp. | | | 264,450 | 11,789,181 |
| Preferred securities 3.4% | | | | | $135,028,950 |
| (Cost $141,827,843) | | | | | |
| Communication services 0.5% | | | 18,709,833 |
| Media 0.5% | | | | |
| 2020 Cash Mandatory Exchangeable Trust, 5.250% (B) | | | 12,455 | 14,841,129 |
| Paramount Global, 5.750% | | | 100,800 | 3,868,704 |
| Financials 0.8% | | | 30,527,580 |
| Banks 0.6% | | | | |
| U.S. Bancorp, 3.532% (Greater of 3 month LIBOR + 1.020% or 3.500%) (E) | | | 12,425 | 9,251,779 |
| Valley National Bancorp, 5.500% (5.500% to 9-30-22, then 3 month LIBOR + 3.578%) | | | 272,325 | 6,443,210 |
| Wells Fargo & Company, 5.850% (5.850% to 9-15-23, then 3 month LIBOR + 3.090%) | | | 228,245 | 5,480,162 |
| Capital markets 0.2% | | | | |
| KKR & Company, Inc., 6.000% | | | 50,000 | 3,112,000 |
| Stifel Financial Corp., 4.500% | | | 347,850 | 6,240,429 |
| Health care 0.4% | | | 18,006,292 |
| Health care equipment and supplies 0.1% | | | | |
| Becton, Dickinson and Company, 6.000% | | | 113,050 | 5,709,025 |
| Life sciences tools and services 0.3% | | | | |
| Danaher Corp., 5.000% (C) | | | 8,740 | 12,297,267 |
| Information technology 0.0% | | | 2,360,464 |
| IT services 0.0% | | | | |
| Sabre Corp., 6.500% | | | 24,800 | 2,360,464 |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK STRATEGIC INCOME OPPORTUNITIES FUND | 31 |
| | | | | Shares | Value |
| Utilities 1.7% | | | $65,424,781 |
| Electric utilities 1.3% | | | | |
| American Electric Power Company, Inc., 6.125% (C) | | | 247,150 | 13,620,437 |
| NextEra Energy, Inc., 5.279% | | | 554,400 | 28,850,976 |
| NextEra Energy, Inc., 6.219% | | | 183,350 | 9,602,040 |
| Independent power and renewable electricityproducers 0.4% | | | | |
| The AES Corp., 6.875% | | | 137,600 | 13,351,328 |
|
| | | | | Contracts/
Notional amount | Value |
| Purchased options 0.0% | | | | | $431,305 |
| (Cost $1,696,426) | | | | | |
| Puts 0.0% | | | | 431,305 |
| Over the Counter Option on USD vs. CAD (Expiration Date: 12-12-22; Strike Price: $1.24; Counterparty: Goldman Sachs International) (K)(L) | | 63,582,000 | 54,045 |
| Over the Counter Option on USD vs. JPY (Expiration Date: 4-5-23; Strike Price: $120.50; Counterparty: Goldman Sachs International) (K)(L) | | 94,670,000 | 377,260 |
|
| | | Yield (%) | | Shares | Value |
| Short-term investments 3.4% | | | | $135,402,725 |
| (Cost $135,498,655) | | | | | |
| Short-term funds 3.4% | | | | | 135,402,725 |
| John Hancock Collateral Trust (M) | | 2.3160(N) | | 13,549,215 | 135,402,725 |
|
| Total investments (Cost $4,416,891,013) 99.4% | | | $3,906,571,922 |
| Other assets and liabilities, net 0.6% | | | 23,695,591 |
| Total net assets 100.0% | | | $3,930,267,513 |
| The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund. |
| ^All par values are denominated in U.S. dollars unless otherwise indicated. |
| Currency Abbreviations |
| AUD | Australian Dollar |
| BRL | Brazilian Real |
| CAD | Canadian Dollar |
| CNY | Chinese Yuan Renminbi |
| COP | Colombian Peso |
| EUR | Euro |
| GBP | Pound Sterling |
| IDR | Indonesian Rupiah |
| INR | Indian Rupee |
| JPY | Japanese Yen |
| 32 | JOHN HANCOCK STRATEGIC INCOME OPPORTUNITIES FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
| KRW | Korean Won |
| MXN | Mexican Peso |
| MYR | Malaysian Ringgit |
| NOK | Norwegian Krone |
| NZD | New Zealand Dollar |
| PHP | Philippine Peso |
| SGD | Singapore Dollar |
| Security Abbreviations and Legend |
| CME | Chicago Mercantile Exchange |
| CMT | Constant Maturity Treasury |
| EURIBOR | Euro Interbank Offered Rate |
| IO | Interest-Only Security - (Interest Tranche of Stripped Mortgage Pool). Rate shown is the annualized yield at the end of the period. |
| LIBOR | London Interbank Offered Rate |
| NIBOR | Norwegian Interbank Offered Rate |
| SOFR | Secured Overnight Financing Rate |
| SONIA | Sterling Overnight Interbank Average Rate |
| TBA | To Be Announced. A forward mortgage-backed securities trade issued by a U.S. Government Agency, to be delivered at an agreed-upon future settlement date. |
| (A) | Security purchased or sold on a when-issued or delayed delivery basis. |
| (B) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. Rule 144A securities amounted to $1,229,766,932 or 31.3% of the fund’s net assets as of 8-31-22. |
| (C) | All or a portion of this security is on loan as of 8-31-22. |
| (D) | Perpetual bonds have no stated maturity date. Date shown as maturity date is next call date. |
| (E) | Variable rate obligation. The coupon rate shown represents the rate at period end. |
| (F) | Zero coupon bonds are issued at a discount from their principal amount in lieu of paying interest periodically. Rate shown is the effective yield at period end. |
| (G) | Term loans are variable rate obligations. The coupon rate shown represents the rate at period end. |
| (H) | This position represents an unsettled loan commitment at period end. Certain details associated with this purchase are not known prior to the settlement date, including coupon rate, which is disclosed as TBD (To Be Determined). |
| (I) | Variable or floating rate security, the interest rate of which adjusts periodically based on a weighted average of interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of period end. |
| (J) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements. |
| (K) | Non-income producing security. |
| (L) | For this type of option, notional amounts are equivalent to number of contracts. |
| (M) | Investment is an affiliate of the fund, the advisor and/or subadvisor. A portion of this security represents the investment of cash collateral received for securities lending. Cash collateral received for securities lending amounted to $59,464,242. |
| (N) | The rate shown is the annualized seven-day yield as of 8-31-22. |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK STRATEGIC INCOME OPPORTUNITIES FUND | 33 |
DERIVATIVES
FUTURES
| Open contracts | Number of
contracts | Position | Expiration
date | Notional
basis^ | Notional
value^ | Unrealized
appreciation
(depreciation) |
| Euro-BTP Italian Government Bond Futures | 78 | Long | Sep 2022 | $9,785,792 | $9,367,926 | $(417,866) |
| 10-Year U.S. Treasury Note Futures | 203 | Short | Dec 2022 | (23,923,559) | (23,731,969) | 191,590 |
| German Euro BUND Futures | 108 | Short | Sep 2022 | (16,490,659) | (16,059,709) | 430,950 |
| U.S. Treasury Long Bond Futures | 638 | Short | Dec 2022 | (87,564,499) | (86,668,313) | 896,186 |
| | | | | | | $1,100,860 |
^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.
FORWARD FOREIGN CURRENCY CONTRACTS
| Contract to buy | Contract to sell | Counterparty (OTC) | Contractual
settlement
date | Unrealized
appreciation | Unrealized
depreciation |
| AUD | 17,169,211 | USD | 11,892,769 | CIBC | 9/21/2022 | — | $(141,329) |
| AUD | 30,115,067 | USD | 20,861,243 | CITI | 9/21/2022 | — | (249,031) |
| AUD | 25,519,140 | USD | 17,496,602 | GSI | 9/21/2022 | — | (30,066) |
| AUD | 20,303,392 | USD | 14,097,249 | JPM | 9/21/2022 | — | (200,623) |
| AUD | 73,460,874 | USD | 50,494,974 | MSCS | 9/21/2022 | — | (214,790) |
| AUD | 91,201,740 | USD | 63,741,319 | SSB | 9/21/2022 | — | (1,318,425) |
| AUD | 60,750,053 | USD | 42,068,122 | UBS | 9/21/2022 | — | (487,840) |
| BRL | 89,572,277 | USD | 16,639,505 | CITI | 9/21/2022 | $499,578 | — |
| BRL | 90,191,415 | USD | 16,640,829 | SSB | 9/21/2022 | 616,722 | — |
| CAD | 51,729,092 | USD | 40,724,697 | CIBC | 9/21/2022 | — | (1,343,021) |
| CAD | 38,728,231 | USD | 29,916,250 | CITI | 9/21/2022 | — | (432,209) |
| CAD | 42,842,248 | USD | 33,514,351 | JPM | 9/21/2022 | — | (898,284) |
| CAD | 38,806,708 | USD | 30,122,500 | MSCS | 9/21/2022 | — | (578,714) |
| CAD | 19,423,946 | USD | 15,003,125 | RBC | 9/21/2022 | — | (215,555) |
| CAD | 50,740,329 | USD | 39,485,613 | SSB | 9/21/2022 | — | (856,688) |
| CAD | 38,515,532 | USD | 30,122,500 | UBS | 9/21/2022 | — | (800,388) |
| COP | 42,173,460,294 | USD | 10,041,300 | CITI | 9/21/2022 | — | (546,467) |
| EUR | 9,746,063 | NOK | 95,422,729 | GSI | 9/21/2022 | 201,257 | — |
| EUR | 23,390,551 | NOK | 229,342,474 | JPM | 9/21/2022 | 450,008 | — |
| EUR | 6,251,443 | USD | 6,623,169 | BMO | 9/21/2022 | — | (332,956) |
| EUR | 47,178,227 | USD | 49,628,424 | CIBC | 9/21/2022 | — | (2,157,609) |
| EUR | 43,069,698 | USD | 45,612,701 | CITI | 9/21/2022 | — | (2,275,895) |
| EUR | 53,728,139 | USD | 56,848,410 | GSI | 9/21/2022 | — | (2,787,061) |
| EUR | 85,906,962 | USD | 90,356,577 | HUS | 9/21/2022 | — | (3,916,839) |
| EUR | 42,678,664 | USD | 44,255,543 | JPM | 9/21/2022 | — | (1,312,196) |
| EUR | 115,202,033 | USD | 120,336,733 | MSCS | 9/21/2022 | — | (4,420,245) |
| EUR | 34,441,115 | USD | 35,105,712 | RBC | 9/21/2022 | — | (451,001) |
| EUR | 158,918,269 | USD | 166,340,712 | SSB | 9/21/2022 | — | (6,436,869) |
| EUR | 83,791,965 | USD | 88,088,194 | UBS | 9/21/2022 | — | (3,776,573) |
| 34 | JOHN HANCOCK STRATEGIC INCOME OPPORTUNITIES FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
FORWARD FOREIGN CURRENCY CONTRACTS (continued)
| Contract to buy | Contract to sell | Counterparty (OTC) | Contractual
settlement
date | Unrealized
appreciation | Unrealized
depreciation |
| GBP | 24,191,551 | USD | 28,549,410 | CITI | 9/21/2022 | — | $(436,056) |
| GBP | 16,988,354 | USD | 20,069,026 | HUS | 9/21/2022 | — | (326,612) |
| GBP | 14,958,750 | USD | 17,613,928 | MSCS | 9/21/2022 | — | (230,147) |
| GBP | 9,232,801 | USD | 10,893,598 | RBC | 9/21/2022 | — | (164,025) |
| GBP | 2,616,094 | USD | 3,184,204 | SSB | 9/21/2022 | — | (144,003) |
| GBP | 31,576,042 | USD | 37,231,870 | UBS | 9/21/2022 | — | (536,892) |
| JPY | 1,409,519,038 | USD | 10,466,078 | GSI | 9/21/2022 | — | (305,313) |
| JPY | 8,210,433,513 | USD | 61,469,012 | JPM | 9/21/2022 | — | (2,282,665) |
| JPY | 1,975,372,874 | USD | 15,002,500 | MSCS | 9/21/2022 | — | (762,679) |
| JPY | 2,001,870,590 | USD | 15,002,500 | SCB | 9/21/2022 | — | (571,666) |
| JPY | 1,381,256,782 | USD | 10,264,889 | SSB | 9/21/2022 | — | (307,858) |
| JPY | 1,394,553,030 | USD | 10,468,124 | UBS | 9/21/2022 | — | (415,245) |
| MXN | 115,373,163 | USD | 5,475,478 | UBS | 9/21/2022 | $230,740 | — |
| NOK | 15,064,250 | SEK | 15,409,191 | MSCS | 9/21/2022 | 69,528 | — |
| NZD | 16,711,588 | AUD | 15,100,600 | CIBC | 9/21/2022 | — | (111,127) |
| NZD | 16,704,284 | AUD | 15,100,600 | CITI | 9/21/2022 | — | (115,596) |
| NZD | 16,737,535 | AUD | 15,100,600 | MSCS | 9/21/2022 | — | (95,252) |
| NZD | 38,608,898 | USD | 24,289,263 | BARC | 9/21/2022 | — | (667,632) |
| NZD | 19,304,449 | USD | 12,096,656 | CIBC | 9/21/2022 | — | (285,841) |
| NZD | 34,720,132 | USD | 21,878,525 | CITI | 9/21/2022 | — | (636,113) |
| NZD | 38,608,898 | USD | 24,524,797 | MSCS | 9/21/2022 | — | (903,166) |
| SEK | 15,521,158 | NOK | 15,064,250 | JPM | 9/21/2022 | — | (59,014) |
| SGD | 2,754,584 | USD | 1,982,000 | BNY | 9/21/2022 | — | (10,707) |
| SGD | 1,728,747 | USD | 1,230,718 | CIBC | 9/21/2022 | 6,444 | — |
| SGD | 98,630,881 | USD | 70,492,557 | CITI | 9/21/2022 | 91,755 | — |
| SGD | 42,293,102 | USD | 30,231,005 | HUS | 9/21/2022 | 35,677 | — |
| SGD | 109,452,554 | USD | 78,147,665 | JPM | 9/21/2022 | 181,079 | — |
| SGD | 15,649,146 | USD | 11,178,186 | MSCS | 9/21/2022 | 20,986 | — |
| SGD | 28,355,884 | USD | 20,242,002 | UBS | 9/21/2022 | 50,634 | — |
| USD | 50,917,635 | AUD | 72,948,651 | ANZ | 9/21/2022 | 988,042 | — |
| USD | 14,056,671 | AUD | 19,534,874 | CIBC | 9/21/2022 | 686,055 | — |
| USD | 44,828,131 | AUD | 65,216,077 | CITI | 9/21/2022 | 191,087 | — |
| USD | 17,466,857 | AUD | 24,753,144 | GSI | 9/21/2022 | 524,605 | — |
| USD | 19,252,794 | AUD | 28,204,230 | HUS | 9/21/2022 | — | (51,549) |
| USD | 12,432,532 | AUD | 18,408,586 | JPM | 9/21/2022 | — | (167,197) |
| USD | 31,909,892 | AUD | 46,584,608 | MSCS | 9/21/2022 | 25,127 | — |
| USD | 78,787,847 | AUD | 110,247,541 | SSB | 9/21/2022 | 3,329,084 | — |
| USD | 56,968,549 | BRL | 285,360,582 | CITI | 9/21/2022 | 2,366,624 | — |
| USD | 12,759,684 | BRL | 66,319,415 | SSB | 9/21/2022 | 69,888 | — |
| USD | 9,086,899 | CAD | 11,830,370 | CIBC | 9/21/2022 | 80,365 | — |
| USD | 14,808,960 | CAD | 18,637,300 | CITI | 9/21/2022 | 620,269 | — |
| USD | 9,086,899 | CAD | 11,892,942 | GSI | 9/21/2022 | 32,729 | — |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK STRATEGIC INCOME OPPORTUNITIES FUND | 35 |
FORWARD FOREIGN CURRENCY CONTRACTS (continued)
| Contract to buy | Contract to sell | Counterparty (OTC) | Contractual
settlement
date | Unrealized
appreciation | Unrealized
depreciation |
| USD | 52,083,650 | CAD | 65,866,567 | HUS | 9/21/2022 | $1,939,027 | — |
| USD | 15,061,250 | CAD | 19,317,101 | JPM | 9/21/2022 | 355,022 | — |
| USD | 39,003,149 | CAD | 50,382,569 | MSCS | 9/21/2022 | 646,589 | — |
| USD | 82,015,224 | CAD | 105,305,015 | RBC | 9/21/2022 | 1,845,868 | — |
| USD | 30,122,500 | CAD | 38,879,081 | SCB | 9/21/2022 | 523,617 | — |
| USD | 14,958,125 | CAD | 19,103,395 | SSB | 9/21/2022 | 414,592 | — |
| USD | 27,260,697 | CAD | 35,551,456 | UBS | 9/21/2022 | 195,154 | — |
| USD | 5,250,669 | COP | 20,390,972,496 | CITI | 9/21/2022 | 659,894 | — |
| USD | 25,958,974 | COP | 100,362,364,920 | SSB | 9/21/2022 | 3,363,628 | — |
| USD | 67,458,551 | EUR | 64,226,476 | BARC | 9/21/2022 | 2,833,757 | — |
| USD | 91,242,448 | EUR | 85,776,219 | CIBC | 9/21/2022 | 4,934,265 | — |
| USD | 90,053,864 | EUR | 85,557,435 | CITI | 9/21/2022 | 3,965,822 | — |
| USD | 38,095,258 | EUR | 37,329,753 | GSI | 9/21/2022 | 533,995 | — |
| USD | 117,073,588 | EUR | 110,869,286 | HUS | 9/21/2022 | 5,516,719 | — |
| USD | 104,374,376 | EUR | 99,938,473 | JPM | 9/21/2022 | 3,816,110 | — |
| USD | 125,167,709 | EUR | 119,646,240 | MSCS | 9/21/2022 | 4,779,451 | — |
| USD | 22,635,201 | EUR | 21,420,124 | RBC | 9/21/2022 | 1,082,235 | — |
| USD | 339,555,047 | EUR | 318,907,310 | SSB | 9/21/2022 | 18,669,949 | — |
| USD | 58,625,934 | EUR | 56,397,515 | UBS | 9/21/2022 | 1,878,655 | — |
| USD | 11,135,959 | GBP | 9,219,878 | CITI | 9/21/2022 | 421,404 | — |
| USD | 62,632,757 | GBP | 50,630,356 | JPM | 9/21/2022 | 3,794,484 | — |
| USD | 36,041,624 | GBP | 30,079,350 | MSCS | 9/21/2022 | 1,085,974 | — |
| USD | 33,417,080 | GBP | 27,659,634 | RBC | 9/21/2022 | 1,273,416 | — |
| USD | 17,740,330 | GBP | 14,958,750 | UBS | 9/21/2022 | 356,549 | — |
| USD | 10,520,268 | JPY | 1,419,885,267 | BMO | 9/21/2022 | 284,778 | — |
| USD | 10,468,124 | JPY | 1,381,479,390 | CITI | 9/21/2022 | 509,488 | — |
| USD | 20,937,971 | JPY | 2,791,103,156 | GSI | 9/21/2022 | 817,815 | — |
| USD | 45,939,488 | JPY | 6,085,695,222 | JPM | 9/21/2022 | 2,069,689 | — |
| USD | 35,582,952 | JPY | 4,688,051,062 | MSCS | 9/21/2022 | 1,788,315 | — |
| USD | 14,950,875 | JPY | 1,946,801,277 | SCB | 9/21/2022 | 917,017 | — |
| USD | 25,471,143 | JPY | 3,366,084,300 | SSB | 9/21/2022 | 1,206,135 | — |
| USD | 2,849,160 | MXN | 59,790,248 | JPM | 9/21/2022 | — | $(107,994) |
| USD | 46,996,973 | MXN | 940,009,953 | UBS | 9/21/2022 | 505,211 | — |
| USD | 12,263,454 | NZD | 19,250,379 | ANZ | 9/21/2022 | 485,719 | — |
| USD | 9,464,173 | NZD | 15,100,512 | CIBC | 9/21/2022 | 225,404 | — |
| USD | 12,425,996 | NZD | 19,860,193 | CITI | 9/21/2022 | 275,167 | — |
| USD | 14,522,641 | NZD | 22,543,922 | MSCS | 9/21/2022 | 729,856 | — |
| USD | 6,045,174 | NZD | 9,393,301 | SSB | 9/21/2022 | 298,181 | — |
| USD | 62,063,417 | NZD | 96,603,626 | UBS | 9/21/2022 | 2,959,549 | — |
| USD | 40,826,180 | SGD | 56,782,842 | ANZ | 9/21/2022 | 190,045 | — |
| USD | 10,153,900 | SGD | 14,154,456 | BARC | 9/21/2022 | 24,390 | — |
| USD | 10,291,199 | SGD | 14,306,166 | CIBC | 9/21/2022 | 53,119 | — |
| 36 | JOHN HANCOCK STRATEGIC INCOME OPPORTUNITIES FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
FORWARD FOREIGN CURRENCY CONTRACTS (continued)
| Contract to buy | Contract to sell | Counterparty (OTC) | Contractual
settlement
date | Unrealized
appreciation | Unrealized
depreciation |
| USD | 47,637,597 | SGD | 66,150,363 | CITI | 9/21/2022 | $297,679 | — |
| USD | 20,518,380 | SGD | 28,480,947 | HUS | 9/21/2022 | 136,244 | — |
| USD | 61,124,415 | SGD | 84,928,000 | JPM | 9/21/2022 | 346,448 | — |
| USD | 29,994,064 | SGD | 41,666,341 | MSCS | 9/21/2022 | 175,918 | — |
| USD | 10,153,900 | SGD | 14,088,638 | SSB | 9/21/2022 | 71,492 | — |
| USD | 40,826,180 | SGD | 56,776,376 | UBS | 9/21/2022 | 194,673 | — |
| | | | | | | $90,816,791 | $(45,875,023) |
WRITTEN OPTIONS
| Foreign currency options |
| Description | Counterparty (OTC) | Currency | Exercise
price | Expiration
date | Notional
amount* | Premium | Value |
| Puts | | | | | | | |
| Euro vs. U.S. Dollar | CITI | EUR | 1.04 | Sep 2022 | 68,900,000 | $724,168 | $(2,071,970) |
| U.S. Dollar vs. Japanese Yen | GSI | USD | 112.75 | Apr 2023 | 94,670,000 | 564,233 | (111,521) |
| | | | | | | $1,288,401 | $(2,183,491) |
| * For this type of option, notional amounts are equivalent to number of contracts. |
| Derivatives Currency Abbreviations |
| AUD | Australian Dollar |
| BRL | Brazilian Real |
| CAD | Canadian Dollar |
| COP | Colombian Peso |
| EUR | Euro |
| GBP | Pound Sterling |
| JPY | Japanese Yen |
| MXN | Mexican Peso |
| NOK | Norwegian Krone |
| NZD | New Zealand Dollar |
| SEK | Swedish Krona |
| SGD | Singapore Dollar |
| USD | U.S. Dollar |
| Derivatives Abbreviations |
| ANZ | Australia and New Zealand Banking Group Limited |
| BARC | Barclays Bank PLC |
| BMO | Bank of Montreal |
| BNY | The Bank of New York Mellon |
| CIBC | Canadian Imperial Bank of Commerce |
| CITI | Citibank, N.A. |
| GSI | Goldman Sachs International |
| HUS | HSBC Bank USA, N.A. |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK STRATEGIC INCOME OPPORTUNITIES FUND | 37 |
| JPM | JPMorgan Chase Bank, N.A. |
| MSCS | Morgan Stanley Capital Services LLC |
| OTC | Over-the-counter |
| RBC | Royal Bank of Canada |
| SCB | Standard Chartered Bank |
| SSB | State Street Bank and Trust Company |
| UBS | UBS AG |
At 8-31-22, the aggregate cost of investments for federal income tax purposes was $4,483,518,694. Net unrealized depreciation aggregated to $533,087,635, of which $52,530,389 related to gross unrealized appreciation and $585,618,024 related to gross unrealized depreciation.
See Notes to financial statements regarding investment transactions and other derivatives information.
| 38 | JOHN HANCOCK STRATEGIC INCOME OPPORTUNITIES FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
STATEMENT OF ASSETS AND LIABILITIES 8-31-22
| Assets | |
| Unaffiliated investments, at value (Cost $4,281,392,358) including $58,174,683 of securities loaned | $3,771,169,197 |
| Affiliated investments, at value (Cost $135,498,655) | 135,402,725 |
| Total investments, at value (Cost $4,416,891,013) | 3,906,571,922 |
| Unrealized appreciation on forward foreign currency contracts | 90,816,791 |
| Receivable for futures variation margin | 316,552 |
| Cash | 605,762 |
| Foreign currency, at value (Cost $1,399,759) | 1,376,386 |
| Collateral held at broker for futures contracts | 3,501,412 |
| Collateral segregated at custodian for OTC derivative contracts | 1,290,000 |
| Dividends and interest receivable | 34,260,495 |
| Receivable for fund shares sold | 4,237,123 |
| Receivable for investments sold | 80,585,875 |
| Receivable for securities lending income | 91,947 |
| Other assets | 215,934 |
| Total assets | 4,123,870,199 |
| Liabilities | |
| Unrealized depreciation on forward foreign currency contracts | 45,875,023 |
| Written options, at value (Premiums received $1,288,401) | 2,183,491 |
| Distributions payable | 182,450 |
| Payable for investments purchased | 68,024,702 |
| Payable for delayed delivery securities purchased | 4,032,898 |
| Payable for fund shares repurchased | 12,465,745 |
| Payable upon return of securities loaned | 59,535,774 |
| Payable to affiliates | |
| Accounting and legal services fees | 142,628 |
| Transfer agent fees | 234,744 |
| Distribution and service fees | 994 |
| Trustees’ fees | 3,659 |
| Other liabilities and accrued expenses | 920,578 |
| Total liabilities | 193,602,686 |
| Net assets | $3,930,267,513 |
| Net assets consist of | |
| Paid-in capital | $4,516,863,015 |
| Total distributable earnings (loss) | (586,595,502) |
| Net assets | $3,930,267,513 |
| |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK Strategic Income Opportunities Fund | 39 |
STATEMENT OF ASSETS AND LIABILITIES (continued)
| Net asset value per share | |
| Based on net asset value and shares outstanding - the fund has an unlimited number of shares authorized with no par value | |
| Class A ($326,029,220 ÷ 33,120,664 shares)1 | $9.84 |
| Class C ($42,568,176 ÷ 4,323,571 shares)1 | $9.85 |
| Class I ($1,745,820,943 ÷ 177,337,709 shares) | $9.84 |
| Class R2 ($4,910,192 ÷ 498,421 shares) | $9.85 |
| Class R6 ($172,947,560 ÷ 17,555,304 shares) | $9.85 |
| Class NAV ($1,637,991,422 ÷ 166,459,991 shares) | $9.84 |
| Maximum offering price per share | |
| Class A (net asset value per share ÷ 96%)2 | $10.25 |
| 1 | Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
| 2 | On single retail sales of less than $100,000. On sales of $100,000 or more and on group sales the offering price is reduced. |
| 40 | JOHN HANCOCK Strategic Income Opportunities Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
STATEMENT OF OPERATIONS For the year ended 8-31-22
| Investment income | |
| Interest | $143,053,079 |
| Dividends | 11,787,769 |
| Dividends from affiliated investments | 249,704 |
| Securities lending | 347,882 |
| Less foreign taxes withheld | (1,141,831) |
| Total investment income | 154,296,603 |
| Expenses | |
| Investment management fees | 28,410,792 |
| Distribution and service fees | 1,714,615 |
| Accounting and legal services fees | 644,543 |
| Transfer agent fees | 2,673,271 |
| Trustees’ fees | 73,197 |
| Custodian fees | 872,757 |
| State registration fees | 219,400 |
| Printing and postage | 96,947 |
| Professional fees | 217,919 |
| Other | 228,708 |
| Total expenses | 35,152,149 |
| Less expense reductions | (2,158,462) |
| Net expenses | 32,993,687 |
| Net investment income | 121,302,916 |
| Realized and unrealized gain (loss) | |
| Net realized gain (loss) on | |
| Unaffiliated investments and foreign currency transactions | (85,673,512) |
| Affiliated investments | (36,978) |
| Capital gain distributions received from affiliated investments | 13,759 |
| Futures contracts | 63,120,117 |
| Forward foreign currency contracts | 29,395,732 |
| Written options | 1,801,813 |
| | 8,620,931 |
| Change in net unrealized appreciation (depreciation) of | |
| Unaffiliated investments and translation of assets and liabilities in foreign currencies | (657,674,945) |
| Affiliated investments | (88,168) |
| Futures contracts | 3,434,960 |
| Forward foreign currency contracts | 39,497,545 |
| Written options | (2,651,857) |
| | (617,482,465) |
| Net realized and unrealized loss | (608,861,534) |
| Decrease in net assets from operations | $(487,558,618) |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK Strategic Income Opportunities Fund | 41 |
STATEMENTS OF CHANGES IN NET ASSETS
| | Year ended
8-31-22 | Year ended
8-31-21 |
| Increase (decrease) in net assets | | |
| From operations | | |
| Net investment income | $121,302,916 | $116,059,841 |
| Net realized gain | 8,620,931 | 200,808,204 |
| Change in net unrealized appreciation (depreciation) | (617,482,465) | (38,646,753) |
| Increase (decrease) in net assets resulting from operations | (487,558,618) | 278,221,292 |
| Distributions to shareholders | | |
| From earnings | | |
| Class A | (11,520,057) | (8,739,583) |
| Class C | (1,448,519) | (1,586,626) |
| Class I | (64,579,947) | (50,118,857) |
| Class R2 | (166,849) | (128,293) |
| Class R6 | (7,091,941) | (6,064,777) |
| Class NAV | (69,165,745) | (57,117,467) |
| Total distributions | (153,973,058) | (123,755,603) |
| From fund share transactions | (301,851,930) | 58,533,080 |
| Total increase (decrease) | (943,383,606) | 212,998,769 |
| Net assets | | |
| Beginning of year | 4,873,651,119 | 4,660,652,350 |
| End of year | $3,930,267,513 | $4,873,651,119 |
| 42 | JOHN HANCOCK Strategic Income Opportunities Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
| CLASS A SHARES Period ended | 8-31-22 | 8-31-21 | 8-31-20 | 8-31-19 | 8-31-18 |
| Per share operating performance | | | | | |
| Net asset value, beginning of period | $11.37 | $10.99 | $10.67 | $10.36 | $10.93 |
| Net investment income1 | 0.26 | 0.24 | 0.25 | 0.32 | 0.32 |
| Net realized and unrealized gain (loss) on investments | (1.45) | 0.40 | 0.28 | 0.30 | (0.55) |
| Total from investment operations | (1.19) | 0.64 | 0.53 | 0.62 | (0.23) |
| Less distributions | | | | | |
| From net investment income | (0.34) | (0.26) | (0.21) | (0.31) | (0.34) |
| Net asset value, end of period | $9.84 | $11.37 | $10.99 | $10.67 | $10.36 |
| Total return (%)2,3 | (10.66) | 5.88 | 5.01 | 6.10 | (2.28) |
| Ratios and supplemental data | | | | | |
| Net assets, end of period (in millions) | $326 | $396 | $332 | $331 | $429 |
| Ratios (as a percentage of average net assets): | | | | | |
| Expenses before reductions | 1.11 | 1.10 | 1.12 | 1.11 | 1.09 |
| Expenses including reductions | 1.06 | 1.07 | 1.09 | 1.08 | 1.06 |
| Net investment income | 2.43 | 2.16 | 2.40 | 3.09 | 2.99 |
| Portfolio turnover (%) | 36 | 71 | 73 | 84 | 63 |
| 1 | Based on average daily shares outstanding. |
| 2 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
| 3 | Does not reflect the effect of sales charges, if any. |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK Strategic Income Opportunities Fund | 43 |
| CLASS C SHARES Period ended | 8-31-22 | 8-31-21 | 8-31-20 | 8-31-19 | 8-31-18 |
| Per share operating performance | | | | | |
| Net asset value, beginning of period | $11.37 | $10.99 | $10.67 | $10.36 | $10.93 |
| Net investment income1 | 0.18 | 0.16 | 0.18 | 0.25 | 0.25 |
| Net realized and unrealized gain (loss) on investments | (1.44) | 0.40 | 0.27 | 0.29 | (0.56) |
| Total from investment operations | (1.26) | 0.56 | 0.45 | 0.54 | (0.31) |
| Less distributions | | | | | |
| From net investment income | (0.26) | (0.18) | (0.13) | (0.23) | (0.26) |
| Net asset value, end of period | $9.85 | $11.37 | $10.99 | $10.67 | $10.36 |
| Total return (%)2,3 | (11.19) | 5.04 | 4.38 | 5.36 | (2.97) |
| Ratios and supplemental data | | | | | |
| Net assets, end of period (in millions) | $43 | $78 | $147 | $202 | $284 |
| Ratios (as a percentage of average net assets): | | | | | |
| Expenses before reductions | 1.81 | 1.80 | 1.82 | 1.81 | 1.79 |
| Expenses including reductions | 1.76 | 1.77 | 1.79 | 1.78 | 1.76 |
| Net investment income | 1.69 | 1.42 | 1.71 | 2.40 | 2.29 |
| Portfolio turnover (%) | 36 | 71 | 73 | 84 | 63 |
| 1 | Based on average daily shares outstanding. |
| 2 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
| 3 | Does not reflect the effect of sales charges, if any. |
| 44 | JOHN HANCOCK Strategic Income Opportunities Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
| CLASS I SHARES Period ended | 8-31-22 | 8-31-21 | 8-31-20 | 8-31-19 | 8-31-18 |
| Per share operating performance | | | | | |
| Net asset value, beginning of period | $11.37 | $10.99 | $10.67 | $10.36 | $10.93 |
| Net investment income1 | 0.29 | 0.28 | 0.29 | 0.35 | 0.35 |
| Net realized and unrealized gain (loss) on investments | (1.45) | 0.40 | 0.27 | 0.30 | (0.55) |
| Total from investment operations | (1.16) | 0.68 | 0.56 | 0.65 | (0.20) |
| Less distributions | | | | | |
| From net investment income | (0.37) | (0.30) | (0.24) | (0.34) | (0.37) |
| Net asset value, end of period | $9.84 | $11.37 | $10.99 | $10.67 | $10.36 |
| Total return (%)2 | (10.30) | 6.10 | 5.42 | 6.41 | (2.00) |
| Ratios and supplemental data | | | | | |
| Net assets, end of period (in millions) | $1,746 | $2,009 | $1,961 | $2,315 | $3,441 |
| Ratios (as a percentage of average net assets): | | | | | |
| Expenses before reductions | 0.81 | 0.80 | 0.82 | 0.82 | 0.79 |
| Expenses including reductions | 0.76 | 0.77 | 0.79 | 0.79 | 0.76 |
| Net investment income | 2.73 | 2.45 | 2.70 | 3.38 | 3.28 |
| Portfolio turnover (%) | 36 | 71 | 73 | 84 | 63 |
| 1 | Based on average daily shares outstanding. |
| 2 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK Strategic Income Opportunities Fund | 45 |
| CLASS R2 SHARES Period ended | 8-31-22 | 8-31-21 | 8-31-20 | 8-31-19 | 8-31-18 |
| Per share operating performance | | | | | |
| Net asset value, beginning of period | $11.38 | $11.00 | $10.68 | $10.37 | $10.94 |
| Net investment income1 | 0.25 | 0.23 | 0.25 | 0.31 | 0.31 |
| Net realized and unrealized gain (loss) on investments | (1.45) | 0.40 | 0.27 | 0.30 | (0.55) |
| Total from investment operations | (1.20) | 0.63 | 0.52 | 0.61 | (0.24) |
| Less distributions | | | | | |
| From net investment income | (0.33) | (0.25) | (0.20) | (0.30) | (0.33) |
| Net asset value, end of period | $9.85 | $11.38 | $11.00 | $10.68 | $10.37 |
| Total return (%)2 | (10.71) | 5.79 | 4.92 | 6.01 | (2.36) |
| Ratios and supplemental data | | | | | |
| Net assets, end of period (in millions) | $5 | $6 | $6 | $12 | $16 |
| Ratios (as a percentage of average net assets): | | | | | |
| Expenses before reductions | 1.18 | 1.19 | 1.19 | 1.19 | 1.19 |
| Expenses including reductions | 1.13 | 1.16 | 1.17 | 1.17 | 1.16 |
| Net investment income | 2.36 | 2.07 | 2.34 | 3.01 | 2.89 |
| Portfolio turnover (%) | 36 | 71 | 73 | 84 | 63 |
| 1 | Based on average daily shares outstanding. |
| 2 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
| 46 | JOHN HANCOCK Strategic Income Opportunities Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
| CLASS R6 SHARES Period ended | 8-31-22 | 8-31-21 | 8-31-20 | 8-31-19 | 8-31-18 |
| Per share operating performance | | | | | |
| Net asset value, beginning of period | $11.38 | $11.00 | $10.67 | $10.37 | $10.94 |
| Net investment income1 | 0.30 | 0.29 | 0.30 | 0.37 | 0.36 |
| Net realized and unrealized gain (loss) on investments | (1.45) | 0.40 | 0.28 | 0.28 | (0.55) |
| Total from investment operations | (1.15) | 0.69 | 0.58 | 0.65 | (0.19) |
| Less distributions | | | | | |
| From net investment income | (0.38) | (0.31) | (0.25) | (0.35) | (0.38) |
| Net asset value, end of period | $9.85 | $11.38 | $11.00 | $10.67 | $10.37 |
| Total return (%)2 | (10.28) | 6.30 | 5.54 | 6.42 | (1.89) |
| Ratios and supplemental data | | | | | |
| Net assets, end of period (in millions) | $173 | $226 | $232 | $543 | $1,464 |
| Ratios (as a percentage of average net assets): | | | | | |
| Expenses before reductions | 0.70 | 0.70 | 0.70 | 0.70 | 0.69 |
| Expenses including reductions | 0.65 | 0.67 | 0.68 | 0.68 | 0.66 |
| Net investment income | 2.83 | 2.55 | 2.82 | 3.55 | 3.42 |
| Portfolio turnover (%) | 36 | 71 | 73 | 84 | 63 |
| 1 | Based on average daily shares outstanding. |
| 2 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK Strategic Income Opportunities Fund | 47 |
| CLASS NAV SHARES Period ended | 8-31-22 | 8-31-21 | 8-31-20 | 8-31-19 | 8-31-18 |
| Per share operating performance | | | | | |
| Net asset value, beginning of period | $11.37 | $10.99 | $10.66 | $10.36 | $10.93 |
| Net investment income1 | 0.30 | 0.29 | 0.30 | 0.36 | 0.36 |
| Net realized and unrealized gain (loss) on investments | (1.45) | 0.40 | 0.28 | 0.29 | (0.55) |
| Total from investment operations | (1.15) | 0.69 | 0.58 | 0.65 | (0.19) |
| Less distributions | | | | | |
| From net investment income | (0.38) | (0.31) | (0.25) | (0.35) | (0.38) |
| Net asset value, end of period | $9.84 | $11.37 | $10.99 | $10.66 | $10.36 |
| Total return (%)2 | (10.28) | 6.31 | 5.56 | 6.54 | (1.89) |
| Ratios and supplemental data | | | | | |
| Net assets, end of period (in millions) | $1,638 | $2,159 | $1,982 | $2,067 | $1,720 |
| Ratios (as a percentage of average net assets): | | | | | |
| Expenses before reductions | 0.69 | 0.69 | 0.69 | 0.69 | 0.68 |
| Expenses including reductions | 0.65 | 0.66 | 0.66 | 0.66 | 0.65 |
| Net investment income | 2.84 | 2.57 | 2.83 | 3.45 | 3.41 |
| Portfolio turnover (%) | 36 | 71 | 73 | 84 | 63 |
| 1 | Based on average daily shares outstanding. |
| 2 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
| 48 | JOHN HANCOCK Strategic Income Opportunities Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Notes to financial statements
Note 1—Organization
John Hancock Strategic Income Opportunities Fund (the fund) is a series of John Hancock Funds II (the Trust), an open-end management investment company organized as a Massachusetts business trust and registered under the Investment Company Act of 1940, as amended (the 1940 Act). The investment objective of the fund is to seek to maximize total return consisting of current income and capital appreciation.
The fund may offer multiple classes of shares. The shares currently outstanding are detailed in the Statement of assets and liabilities. Class A and Class C shares are offered to all investors. Class I shares are offered to institutions and certain investors. Class R2 shares are available only to certain retirement and 529 plans. Class R6 shares are only available to certain retirement plans, institutions and other investors. Class NAV shares are offered to John Hancock affiliated funds of funds, retirement plans for employees of John Hancock and/or Manulife Financial Corporation, and certain 529 plans. Class C shares convert to Class A shares eight years after purchase (certain exclusions may apply). Shareholders of each class have exclusive voting rights to matters that affect that class. The distribution and service fees, if any, and transfer agent fees for each class may differ.
Note 2—Significant accounting policies
The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (US GAAP), which require management to make certain estimates and assumptions as of the date of the financial statements. Actual results could differ from those estimates and those differences could be significant. The fund qualifies as an investment company under Topic 946 of Accounting Standards Codification of US GAAP.
Events or transactions occurring after the end of the fiscal period through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The following summarizes the significant accounting policies of the fund:
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: Debt obligations are typically valued based on evaluated prices provided by an independent pricing vendor. Independent pricing vendors utilize matrix pricing, which takes into account factors such as institutional-size trading in similar groups of securities, yield, quality, coupon rate, maturity, type of issue, trading characteristics and other market data, as well as broker supplied prices. 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. Exchange-traded options are valued at the mid-price of the last quoted bid and ask prices from the exchange where the option trades. Unlisted options are valued using evaluated prices obtained from an independent pricing vendor. Futures contracts whose settlement prices are determined as of the close of the NYSE are typically valued based on the settlement price while other futures contracts are typically valued at the last traded price on the exchange on which they trade. Forward foreign currency contracts are valued at the prevailing forward rates which are based on foreign currency exchange spot rates and forward points supplied by an independent pricing vendor. Foreign securities and currencies are valued in U.S. dollars based on foreign currency exchange rates supplied by an independent pricing vendor.
| | ANNUAL REPORT | JOHN HANCOCK Strategic Income Opportunities Fund | 49 |
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.
The following is a summary of the values by input classification of the fund’s investments as of August 31, 2022, by major security category or type:
| | Total
value at
8-31-22 | Level 1
quoted
price | Level 2
significant
observable
inputs | Level 3
significant
unobservable
inputs |
| Investments in securities: | | | | |
| Assets | | | | |
| U.S. Government and Agency obligations | $286,188,549 | — | $286,188,549 | — |
| Foreign government obligations | 861,434,989 | — | 861,434,989 | — |
| Corporate bonds | 1,806,308,089 | — | 1,806,308,089 | — |
| Convertible bonds | 74,418,871 | — | 74,418,871 | — |
| Capital preferred securities | 5,330,641 | — | 5,330,641 | — |
| Term loans | 358,503,244 | — | 358,503,244 | — |
| Collateralized mortgage obligations | 165,586,080 | — | 165,586,080 | — |
| Asset backed securities | 40,323,624 | — | 40,323,624 | — |
| Common stocks | 37,614,855 | $37,614,855 | — | — |
| Preferred securities | 135,028,950 | 106,836,493 | 28,192,457 | — |
| Purchased options | 431,305 | — | 431,305 | — |
| Short-term investments | 135,402,725 | 135,402,725 | — | — |
| Total investments in securities | $3,906,571,922 | $279,854,073 | $3,626,717,849 | — |
| Derivatives: | | | | |
| Assets | | | | |
| 50 | JOHN HANCOCK Strategic Income Opportunities Fund | ANNUAL REPORT | |
| | Total
value at
8-31-22 | Level 1
quoted
price | Level 2
significant
observable
inputs | Level 3
significant
unobservable
inputs |
| Futures | $1,518,726 | $1,518,726 | — | — |
| Forward foreign currency contracts | 90,816,791 | — | $90,816,791 | — |
| Liabilities | | | | |
| Futures | (417,866) | (417,866) | — | — |
| Forward foreign currency contracts | (45,875,023) | — | (45,875,023) | — |
| Written options | (2,183,491) | — | (2,183,491) | — |
| Level 3 includes securities valued at $0. Refer to Fund’s investments. |
When-issued/delayed-delivery securities. The fund may purchase or sell debt securities on a when-issued or delayed-delivery basis, or in a “To Be Announced” (TBA) or “forward commitment” transaction, with delivery or payment to occur at a later date beyond the normal settlement period. TBA securities resulting from these transactions are included in the portfolio or in a schedule to the portfolio (Sale Commitments Outstanding). At the time a fund enters into a commitment to purchase or sell a security, the transaction is recorded and the value of the security is reflected in its NAV. The price of such security and the date that the security will be delivered and paid for are fixed at the time the transaction is negotiated. The value of the security may vary with market fluctuations. No interest accrues until settlement takes place. At the time that the fund enters into this type of transaction, the fund is required to have sufficient cash and/or liquid securities to cover its commitments.
Certain risks may arise upon entering into when-issued or delayed-delivery securities transactions, including the potential inability of counterparties to meet the terms of their contracts, and the issuer’s failure to issue the securities due to political, economic or other factors. Additionally, losses may arise due to changes in the value of the securities purchased or sold prior to settlement date.
Term loans (Floating rate loans). The fund may invest in term loans, which are debt securities and are often rated below investment grade at the time of purchase. Term loans are generally subject to legal or contractual restrictions on resale and generally have longer settlement periods than conventional debt securities. Term loans involve special types of risk, including credit risk, interest-rate risk, counterparty risk, and risk associated with extended settlement. The liquidity of term loans, including the volume and frequency of secondary market trading in such loans, varies significantly over time and among individual loans. During periods of infrequent trading, valuing a term loan can be more difficult and buying and selling a term loan at an acceptable price can be more difficult and delayed, which could result in a loss.
The fund’s ability to receive payments of principal, interest and other amounts in connection with term loans will depend primarily on the financial condition of the borrower. The fund’s failure to receive scheduled payments on a term loan due to a default, bankruptcy or other reason would adversely affect the fund’s income and would likely reduce the value of its assets. Transactions in loan investments typically take a significant amount of time (i.e., seven days or longer) to settle. This could pose a liquidity risk to the fund and, if the fund’s exposure to such investments is substantial, it could impair the fund’s ability to meet redemptions. Because term loans may not be rated by independent credit rating agencies, a decision to invest in a particular loan could depend exclusively on the subadvisor’s credit analysis of the borrower and/or term loan agents. There is greater risk that the fund may have limited rights to enforce the terms of an underlying loan than for other types of debt instruments.
At August 31, 2022, the fund had $454,580 in unfunded loan commitments outstanding.
Mortgage and asset backed securities. The fund may invest in mortgage-related securities, such as mortgage-backed securities, and other asset-backed securities, which are debt obligations that represent interests in pools of mortgages or other income-bearing assets, such as consumer loans or receivables. Such securities often
| | ANNUAL REPORT | JOHN HANCOCK Strategic Income Opportunities Fund | 51 |
involve risks that are different from the risks associated with investing in other types of debt securities. Mortgage-backed and other asset-backed securities are subject to changes in the payment patterns of borrowers of the underlying debt. When interest rates fall, borrowers are more likely to refinance or prepay their debt before its stated maturity. This may result in the fund having to reinvest the proceeds in lower yielding securities, effectively reducing the fund’s income. Conversely, if interest rates rise and borrowers repay their debt more slowly than expected, the time in which the mortgage-backed and other asset-backed securities are paid off could be extended, reducing the fund’s cash available for reinvestment in higher yielding securities. The timely payment of principal and interest of certain mortgage-related securities is guaranteed with the full faith and credit of the U.S. Government. Pools created and guaranteed by non-governmental issuers, including government-sponsored corporations (e.g. FNMA), may be supported by various forms of insurance or guarantees, but there can be no assurance that private insurers or guarantors can meet their obligations under the insurance policies or guarantee arrangements. The fund is also subject to risks associated with securities with contractual cash flows including asset-backed and mortgage related securities such as collateralized mortgage obligations, mortgage pass-through securities and commercial mortgage-backed securities. The value, liquidity and related income of these securities are sensitive to changes in economic conditions, including real estate value, pre-payments, delinquencies and/or defaults, and may be adversely affected by shifts in the market’s perception of the issuers and changes in interest rates.
Real estate investment trusts. The fund may invest in real estate investment trusts (REITs). Distributions from REITs may be recorded as income and subsequently characterized by the REIT at the end of their fiscal year as a reduction of cost of investments and/or as a realized gain. As a result, the fund will estimate the components of distributions from these securities. Such estimates are revised when the actual components of the distributions are known.
Security transactions and related investment income. Investment security transactions are accounted for on a trade date plus one basis for daily NAV calculations. However, for financial reporting purposes, investment transactions are reported on trade date. Interest income is accrued as earned. Interest income includes coupon interest and amortization/accretion of premiums/discounts on debt securities. Debt obligations may be placed in a non-accrual status and related interest income may be reduced by stopping current accruals and writing off interest receivable when the collection of all or a portion of interest has become doubtful. Capital gain distributions from underlying funds are recorded on ex-date. Dividend income is recorded on ex-date, except for dividends of certain foreign securities where the dividend may not be known until after the ex-date. In those cases, dividend income, net of withholding taxes, is recorded when the fund becomes aware of the dividends. Non-cash dividends, if any, are recorded at the fair market value of the securities received. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds from litigation.
Securities lending. The fund may lend its securities to earn additional income. The fund receives collateral from the borrower in an amount not less than the market value of the loaned securities. The fund may invest its cash collateral in JHCT, an affiliate of the fund, which has a floating NAV and is registered with the Securities and Exchange Commission (SEC) as an investment company. JHCT is a prime money market fund and invests in short-term money market investments. The fund will receive the benefit of any gains and bear any losses generated by JHCT with respect to the cash collateral. Effective November 19, 2021, JHCT converted to a prime money market fund.
The fund has the right to recall loaned securities on demand. If a borrower fails to return loaned securities when due, then the lending agent is responsible and indemnifies the fund for the lent securities. The lending agent uses the collateral received from the borrower to purchase replacement securities of the same issue, type, class and series of the loaned securities. If the value of the collateral is less than the purchase cost of replacement securities, the lending agent is responsible for satisfying the shortfall but only to the extent that the shortfall is not due to any decrease in the value of JHCT.
Although the risk of loss on securities lent is mitigated by receiving collateral from the borrower and through lending agent indemnification, the fund could experience a delay in recovering securities or could experience a
| 52 | JOHN HANCOCK Strategic Income Opportunities Fund | ANNUAL REPORT | |
lower than expected return if the borrower fails to return the securities on a timely basis. During the existence of the loan, the fund will receive from the borrower amounts equivalent to any dividends, interest or other distributions on the loaned securities, as well as interest on such amounts. The fund receives compensation for lending its securities by retaining a portion of the return on the investment of the collateral and compensation from fees earned from borrowers of the securities. Securities lending income received by the fund is net of fees retained by the securities lending agent. Net income received from JHCT is a component of securities lending income as recorded on the Statement of operations.
Obligations to repay collateral received by the fund are shown on the Statement of assets and liabilities as Payable upon return of securities loaned and are secured by the loaned securities. As of August 31, 2022, the fund loaned securities valued at $58,174,683 and received $59,535,774 of cash collateral.
Foreign investing. Assets, including investments, and liabilities denominated in foreign currencies are translated into U.S. dollar values each day at the prevailing exchange rate. Purchases and sales of securities, income and expenses are translated into U.S. dollars at the prevailing exchange rate on the date of the transaction. The effect of changes in foreign currency exchange rates on the value of securities is reflected as a component of the realized and unrealized gains (losses) on investments. Foreign investments are subject to a decline in the value of a foreign currency versus the U.S. dollar, which reduces the dollar value of securities denominated in that currency.
Funds that invest internationally generally carry more risk than funds that invest strictly in U.S. securities. These risks are heightened for investments in emerging markets. Risks can result from differences in economic and political conditions, regulations, market practices (including higher transaction costs), accounting standards and other factors.
Foreign taxes. The fund may be subject to withholding tax on income, capital gains or repatriations imposed by certain countries, a portion of which may be recoverable. Foreign taxes are accrued based upon the fund’s understanding of the tax rules and rates that exist in the foreign markets in which it invests. Taxes are accrued based on gains realized by the fund as a result of certain foreign security sales. In certain circumstances, estimated taxes are accrued based on unrealized appreciation of such securities. Investment income is recorded net of foreign withholding taxes.
Overdraft. The fund may have the ability to borrow from banks for temporary or emergency purposes, including meeting redemption requests that otherwise might require the untimely sale of securities. Pursuant to the fund’s custodian agreement, the custodian may loan money to the fund to make properly authorized payments. The fund is obligated to repay the custodian for any overdraft, including any related costs or expenses. The custodian may have a lien, security interest or security entitlement in any fund property that is not otherwise segregated or pledged, to the extent of any overdraft, and to the maximum extent permitted by law.
Line of credit. The fund and other affiliated funds have entered into a syndicated line of credit agreement with Citibank, N.A. as the administrative agent that enables them to participate in a $1 billion unsecured committed line of credit. Excluding commitments designated for a certain fund and subject to the needs of all other affiliated funds, the fund can borrow up to an aggregate commitment amount of $750 million, subject to asset coverage and other limitations as specified in the agreement. A commitment fee payable at the end of each calendar quarter, based on the average daily unused portion of the line of credit, is charged to each participating fund based on a combination of fixed and asset-based allocations and is reflected in Other expenses on the Statement of operations. For the year ended August 31, 2022, the fund had no borrowings under the line of credit. Commitment fees for the year ended August 31, 2022 were $18,288.
Expenses. Within the John Hancock group of funds complex, expenses that are directly attributable to an individual fund are allocated to such fund. Expenses that are not readily attributable to a specific fund are allocated among all funds in an equitable manner, taking into consideration, among other things, the nature and type of expense and the fund’s relative net assets. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.
| | ANNUAL REPORT | JOHN HANCOCK Strategic Income Opportunities Fund | 53 |
Class allocations. Income, common expenses and realized and unrealized gains (losses) are determined at the fund level and allocated daily to each class of shares based on the net assets of the class. Class-specific expenses, such as distribution and service fees, if any, and transfer agent fees, for all classes, are charged daily at the class level based on the net assets of each class and the specific expense rates applicable to each class.
Federal income taxes. The fund intends to continue to qualify as a regulated investment company by complying with the applicable provisions of the Internal Revenue Code and will not be subject to federal income tax on taxable income that is distributed to shareholders. Therefore, no federal income tax provision is required.
For federal income tax purposes, as of August 31, 2022, the fund has a short-term capital loss carryforward of $80,655,516 and a long-term capital loss carryforward of $33,251,212 available to offset future net realized capital gains. These carryforwards do not expire.
As of August 31, 2022, the fund had no uncertain tax positions that would require financial statement recognition, derecognition or disclosure. The fund’s federal tax returns are subject to examination by the Internal Revenue Service for a period of three years.
Distribution of income and gains. Distributions to shareholders from net investment income and net realized gains, if any, are recorded on the ex-date. The fund generally declares dividends daily and pays them monthly. Capital gain distributions, if any, are typically distributed annually.
The tax character of distributions for the years ended August 31, 2022 and 2021 was as follows:
| | August 31, 2022 | August 31, 2021 |
| Ordinary income | $153,973,058 | $123,755,603 |
Distributions paid by the fund with respect to each class of shares are calculated in the same manner, at the same time and in the same amount, except for the effect of class level expenses that may be applied differently to each class. As of August 31, 2022, the components of distributable earnings on a tax basis consisted of $60,859,113 of undistributed ordinary income.
Such distributions and distributable earnings, on a tax basis, are determined in conformity with income tax regulations, which may differ from US GAAP. Distributions in excess of tax basis earnings and profits, if any, are reported in the fund’s financial statements as a return of capital.
Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Temporary book-tax differences, if any, will reverse in a subsequent period. Book-tax differences are primarily attributable to foreign currency transactions, contingent payment debt instruments, amortization and accretion on debt securities, and derivative transactions.
Note 3—Derivative instruments
The fund may invest in derivatives in order to meet its investment objective. Derivatives include a variety of different instruments that may be traded in the over-the-counter (OTC) market, on a regulated exchange or through a clearing facility. The risks in using derivatives vary depending upon the structure of the instruments, including the use of leverage, optionality, the liquidity or lack of liquidity of the contract, the creditworthiness of the counterparty or clearing organization and the volatility of the position. Some derivatives involve risks that are potentially greater than the risks associated with investing directly in the referenced securities or other referenced underlying instrument. Specifically, the fund is exposed to the risk that the counterparty to an OTC derivatives contract will be unable or unwilling to make timely settlement payments or otherwise honor its obligations. OTC derivatives transactions typically can only be closed out with the other party to the transaction.
Derivatives which are typically traded through the OTC market are regulated by the Commodity Futures Trading Commission (the CFTC). Derivative counterparty risk is managed through an ongoing evaluation of the creditworthiness of all potential counterparties and, if applicable, designated clearing organizations. The fund
| 54 | JOHN HANCOCK Strategic Income Opportunities Fund | ANNUAL REPORT | |
attempts to reduce its exposure to counterparty risk for derivatives traded in the OTC market, whenever possible, by entering into an International Swaps and Derivatives Association (ISDA) Master Agreement with each of its OTC counterparties. The ISDA gives each party to the agreement the right to terminate all transactions traded under the agreement if there is certain deterioration in the credit quality or contractual default of the other party, as defined in the ISDA. Upon an event of default or a termination of the ISDA, the non-defaulting party has the right to close out all transactions and to net amounts owed.
As defined by the ISDA, the fund may have collateral agreements with certain counterparties to mitigate counterparty risk on OTC derivatives. Subject to established minimum levels, collateral for OTC transactions is generally determined based on the net aggregate unrealized gain or loss on contracts with a particular counterparty. Collateral pledged to the fund, if any, is held in a segregated account by a third-party agent or held by the custodian bank for the benefit of the fund and can be in the form of cash or debt securities issued by the U.S. government or related agencies; collateral posted by the fund, if any, for OTC transactions is held in a segregated account at the fund’s custodian and is noted in the accompanying Fund’s investments, or if cash is posted, on the Statement of assets and liabilities. The fund’s risk of loss due to counterparty risk is equal to the asset value of outstanding contracts offset by collateral received.
Certain derivatives are traded or cleared on an exchange or central clearinghouse. Exchange-traded or centrally-cleared transactions generally present less counterparty risk to a fund than OTC transactions. The exchange or clearinghouse stands between the fund and the broker to the contract and therefore, credit risk is generally limited to the failure of the exchange or clearinghouse and the clearing member.
Futures. A futures contract is a contractual agreement to buy or sell a particular currency or financial instrument at a pre-determined price in the future. Futures are traded on an exchange and cleared through a central clearinghouse. Risks related to the use of futures contracts include possible illiquidity of the futures markets and contract prices that can be highly volatile and imperfectly correlated to movements in the underlying financial instrument and potential losses in excess of the amounts recognized on the Statement of assets and liabilities. Use of long futures contracts subjects the fund to the risk of loss up to the notional value of the futures contracts. Use of short futures contracts subjects the fund to unlimited risk of loss.
Upon entering into a futures contract, the fund is required to deposit initial margin with the broker in the form of cash or securities. The amount of required margin is set by the broker and is generally based on a percentage of the contract value. The margin deposit must then be maintained at the established level over the life of the contract. Cash that has been pledged by the fund, if any, is detailed in the Statement of assets and liabilities as Collateral held at broker for futures contracts. Securities pledged by the fund, if any, are identified in the Fund’s investments. Subsequent payments, referred to as variation margin, are made or received by the fund periodically and are based on changes in the market value of open futures contracts. Futures contracts are marked-to-market daily and unrealized gain or loss is recorded by the fund. Receivable for futures variation margin is included on the Statement of assets and liabilities. When the contract is closed, the fund records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed.
During the year ended August 31, 2022, the fund used futures contracts to manage duration of the fund. The fund held futures contracts with USD notional values ranging from $135.8 million to $623.0 million, as measured at each quarter end.
Forward foreign currency contracts. A forward foreign currency contract is an agreement between two parties to buy and sell specific currencies at a price that is set on the date of the contract. The forward contract calls for delivery of the currencies on a future date that is specified in the contract. Forwards are typically traded OTC. Risks related to the use of forwards include the possible failure of counterparties to meet the terms of the forward agreement, the failure of the counterparties to timely post collateral if applicable, and the risk that currency movements will not favor the fund thereby reducing the fund’s total return, and the potential for losses in excess of the amounts recognized on the Statement of assets and liabilities.
| | ANNUAL REPORT | JOHN HANCOCK Strategic Income Opportunities Fund | 55 |
The market value of a forward foreign currency contract fluctuates with changes in foreign currency exchange rates. Forward foreign currency contracts are marked-to-market daily and the change in value is recorded by the fund as an unrealized gain or loss. Realized gains or losses, equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed, are recorded upon delivery or receipt of the currency or settlement with the counterparty.
During the year ended August 31, 2022, the fund used forward foreign currency contracts to manage against changes in foreign currency exchange rates and to gain exposure to foreign currencies. The fund held forward foreign currency contracts with USD notional values ranging from $2.8 billion to $4.4 billion, as measured at each quarter end.
Options. There are two types of options, put options and call options. Options are traded either OTC or on an exchange. A call option gives the purchaser of the option the right to buy (and the seller the obligation to sell) the underlying asset at the exercise price. A put option gives the purchaser of the option the right to sell (and the writer the obligation to buy) the underlying asset at the exercise price. Writing puts and buying calls may increase the fund’s exposure to changes in the value of the underlying instrument. Buying puts and writing calls may decrease the fund’s exposure to such changes. Risks related to the use of options include the loss of premiums on purchased options, possible illiquidity of the options markets, trading restrictions imposed by an exchange and movements in underlying security values, and for written options, potential losses in excess of the amounts recognized on the Statement of assets and liabilities. In addition, OTC options are subject to the risks of all OTC derivatives contracts.
Purchased options are included in the Fund’s investments and are subsequently “marked-to-market” to reflect current market value. If a purchased option expires, the fund realizes a loss equal to the premium paid for the option. Premiums paid for purchased options which are exercised or closed are added to the amounts paid or offset against the proceeds on the underlying asset transaction to determine the realized gain (loss). Written options are included as liabilities in the Statement of assets and liabilities and are “marked-to-market” to reflect the current market value. If the written option expires, the fund realizes a gain equal to the premium received. Premiums received from writing options which are exercised or closed are added to the proceeds or offset against amounts paid on the underlying asset transaction to determine the realized gain (loss).
During the year ended August 31, 2022, the fund used purchased options contracts to manage against changes in foreign currency exchange rates. The fund held purchased options contracts with market values ranging up to $906,000, as measured at each quarter end.
During the year ended August 31, 2022, the fund wrote option contracts to manage against changes in foreign currency exchange rates. The fund held written option contracts with market values ranging up to $2.2 million, as measured at each quarter end.
Fair value of derivative instruments by risk category
The table below summarizes the fair value of derivatives held by the fund at August 31, 2022 by risk category:
| Risk | Statement of assets
and liabilities
location | Financial
instruments
location | Assets
derivatives
fair value | Liabilities
derivatives
fair value |
| Interest rate | Receivable/payable for futures variation margin1 | Futures | $1,518,726 | $(417,866) |
| Currency | Unrealized appreciation (depreciation) on forward foreign currency contracts | Forward foreign currency contracts | 90,816,791 | (45,875,023) |
| Currency | Unaffiliated investments, at value2 | Purchased options | 431,305 | — |
| Currency | Written options, at value | Written options | — | (2,183,491) |
| 56 | JOHN HANCOCK Strategic Income Opportunities Fund | ANNUAL REPORT | |
| Risk | Statement of assets
and liabilities
location | Financial
instruments
location | Assets
derivatives
fair value | Liabilities
derivatives
fair value |
| | | | $92,766,822 | $(48,476,380) |
| 1 | Reflects cumulative appreciation/depreciation on open futures as disclosed in the Derivatives section of Fund’s investments. Only the year end variation margin receivable/payable is separately reported on the Statement of assets and liabilities. |
| 2 | Purchased options are included in Fund’s investments. |
For financial reporting purposes, the fund does not offset OTC derivative assets or liabilities that are subject to master netting arrangements, as defined by the ISDAs, in the Statement of assets and liabilities. In the event of default by the counterparty or a termination of the agreement, the ISDA allows an offset of amounts across the various transactions between the fund and the applicable counterparty. The tables below reflect the fund’s exposure to OTC derivative transactions and exposure to counterparties subject to an ISDA:
| OTC Financial Instruments | Asset | Liability |
| Forward foreign currency contracts | $90,816,791 | $(45,875,023) |
| Purchased options | 431,305 | — |
| Written options | — | (2,183,491) |
| Totals | $91,248,096 | $(48,058,514) |
| Counterparty | Assets | Liabilities | Total Market
Value of
OTC Derivatives | Collateral
Posted by
Counterparty1 | Collateral Posted by Fund1 | Net
Exposure |
| Australia and New Zealand Banking Group Limited | $1,663,806 | $ — | $1,663,806 | $1,306,190 | $ — | $357,616 |
| Barclays Bank PLC | 2,858,147 | (667,632) | 2,190,515 | 2,190,515 | — | — |
| Bank of Montreal | 284,778 | (332,956) | (48,178) | — | 48,178 | — |
| The Bank of New York Mellon | | (10,707) | (10,707) | — | — | (10,707) |
| Canadian Imperial Bank of Commerce | 5,985,652 | (4,038,927) | 1,946,725 | 1,946,725 | — | — |
| Citibank, N.A. | 9,898,767 | (6,763,337) | 3,135,430 | 2,040,000 | — | 1,095,430 |
| Goldman Sachs International | 2,541,706 | (3,233,961) | (692,255) | — | 692,255 | — |
| HSBC Bank USA, N.A. | 7,627,667 | (4,295,000) | 3,332,667 | 3,300,000 | — | 32,667 |
| JPMorgan Chase Bank, N.A. | 11,012,840 | (5,027,973) | 5,984,867 | 5,984,867 | — | — |
| Morgan Stanley Capital Services LLC | 9,321,744 | (7,204,993) | 2,116,751 | 2,080,000 | — | 36,751 |
| Royal Bank of Canada | 4,201,519 | (830,581) | 3,370,938 | 3,070,000 | — | 300,938 |
| Standard Chartered Bank | 1,440,634 | (571,666) | 868,968 | 680,000 | — | 188,968 |
| State Street Bank and Trust Company | 28,039,671 | (9,063,843) | 18,975,828 | 18,975,828 | — | — |
| UBS AG | 6,371,165 | (6,016,938) | 354,227 | 246,876 | — | 107,351 |
| | ANNUAL REPORT | JOHN HANCOCK Strategic Income Opportunities Fund | 57 |
| Counterparty | Assets | Liabilities | Total Market
Value of
OTC Derivatives | Collateral
Posted by
Counterparty1 | Collateral Posted by Fund1 | Net
Exposure |
| Total | $91,248,096 | ($48,058,514) | $43,189,582 | $41,821,001 | $740,433 | $2,109,014 |
| 1 Reflects collateral posted by the counterparty or posted by the fund, excluding any excess collateral amounts. |
Effect of derivative instruments on the Statement of operations
The table below summarizes the net realized gain (loss) included in the net increase (decrease) in net assets from operations, classified by derivative instrument and risk category, for the year ended August 31, 2022:
| | Statement of operations location - Net realized gain (loss) on: |
| Risk | Unaffiliated
investments and
foreign currency
transactions1 | Futures contracts | Forward foreign
currency contracts | Written options | Total |
| Interest rate | — | $63,120,117 | — | — | $63,120,117 |
| Currency | $(2,733,757) | — | $29,395,732 | $1,801,813 | 28,463,788 |
| Total | $(2,733,757) | $63,120,117 | $29,395,732 | $1,801,813 | $91,583,905 |
| 1 | Realized gain (loss) associated with purchased options is included in this caption on the Statement of operations. |
The table below summarizes the net change in unrealized appreciation (depreciation) included in the net increase (decrease) in net assets from operations, classified by derivative instrument and risk category, for the year ended August 31, 2022:
| | Statement of operations location - Change in net unrealized appreciation (depreciation) of: |
| Risk | Unaffiliated
investments and
translation of assets
and liabilities in
foreign currencies1 | Futures contracts | Forward foreign
currency contracts | Written options | Total |
| Interest rate | — | $3,434,960 | — | — | $3,434,960 |
| Currency | $(163,132) | — | $39,497,545 | $(2,651,857) | 36,682,556 |
| Total | $(163,132) | $3,434,960 | $39,497,545 | $(2,651,857) | $40,117,516 |
| 1 | Change in unrealized appreciation (depreciation) associated with purchased options is included in this caption on the Statement of operations. |
Note 4—Guarantees and indemnifications
Under the Trust’s organizational documents, its Officers and Trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust, including the fund. Additionally, in the normal course of business, the fund enters into contracts with service providers that contain general indemnification clauses. The fund’s maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the fund that have not yet occurred. The risk of material loss from such claims is considered remote.
| 58 | JOHN HANCOCK Strategic Income Opportunities Fund | ANNUAL REPORT | |
Note 5—Fees and transactions with affiliates
John Hancock Investment Management LLC (the Advisor) serves as investment advisor for the fund. John Hancock Investment Management Distributors LLC (the Distributor), an affiliate of the Advisor, serves as principal underwriter of the fund. The Advisor and the Distributor are indirect, principally owned subsidiaries of John Hancock Life Insurance Company (U.S.A.), which in turn is a subsidiary of Manulife Financial Corporation.
Management fee. The fund has an investment management agreement with the Advisor under which the fund pays a daily management fee to the Advisor equivalent on an annual basis to the sum of: (a) 0.700% of the first $500 million of the fund’s aggregate daily net assets; (b) 0.650% of the next $3 billion of the fund’s aggregate daily net assets; (c) 0.600% of the next $4 billion of the fund’s aggregate daily net assets; (d) 0.590% of the next $4.5 billion of the fund’s aggregate daily net assets; and (e) 0.575% of the fund’s aggregate daily net assets in excess of $12 billion. Aggregate net assets include the net assets of 1) the fund, 2) Strategic Income Opportunities Trust, a series of John Hancock Variable Insurance Trust and 3) Strategic Income Opportunities Fund, a sub-fund of Manulife Investment Management I PLC. The Advisor has a subadvisory agreement with Manulife Investment Management (US) LLC, an indirectly owned subsidiary of Manulife Financial Corporation and an affiliate of the Advisor. The fund is not responsible for payment of the subadvisory fees.
The Advisor contractually agrees to reduce its management fee (after giving effect to asset breakpoints) by an annual rate of 0.04% of the fund’s average daily net assets. This agreement expires on December 31, 2022, unless renewed by mutual agreement of the fund and the Advisor based upon a determination that this is appropriate under the circumstances at that time.
The Advisor has contractually agreed to waive a portion of its management fee and/or reimburse expenses for certain funds of the John Hancock group of funds complex, including the fund (the participating portfolios). This waiver is based upon aggregate net assets of all the participating portfolios. The amount of the reimbursement is calculated daily and allocated among all the participating portfolios in proportion to the daily net assets of each fund. During the year ended August 31, 2022, this waiver amounted to 0.01% of the fund’s average daily net assets. This arrangement expires on July 31, 2024, unless renewed by mutual agreement of the fund and the Advisor based upon a determination that this is appropriate under the circumstances at that time.
For the year ended August 31, 2022, the expense reductions described above amounted to the following:
| Class | Expense reduction |
| Class A | $177,707 |
| Class C | 28,983 |
| Class I | 908,293 |
| Class R2 | 2,627 |
| Class | Expense reduction |
| Class R6 | $97,051 |
| Class NAV | 943,801 |
| Total | $2,158,462 |
Expenses waived or reimbursed in the current fiscal period are not subject to recapture in future fiscal periods.
The investment management fees, including the impact of the waivers and reimbursements as described above, incurred for the year ended August 31, 2022, were equivalent to a net annual effective rate of 0.59% of the fund’s average daily net assets.
Accounting and legal services. Pursuant to a service agreement, the fund reimburses the Advisor for all expenses associated with providing the administrative, financial, legal, compliance, accounting and recordkeeping services to the fund, including the preparation of all tax returns, periodic reports to shareholders and regulatory reports, among other services. These expenses are allocated to each share class based on its relative net assets at the time the expense was incurred. These accounting and legal services fees incurred, for the year ended August 31, 2022, amounted to an annual rate of 0.01% of the fund’s average daily net assets.
| | ANNUAL REPORT | JOHN HANCOCK Strategic Income Opportunities Fund | 59 |
Distribution and service plans. The fund has a distribution agreement with the Distributor. The fund has adopted distribution and service plans for certain classes as detailed below pursuant to Rule 12b-1 under the 1940 Act, to pay the Distributor for services provided as the distributor of shares of the fund. In addition, under a service plan for certain classes as detailed below, the fund pays for certain other services. The fund may pay up to the following contractual rates of distribution and service fees under these arrangements, expressed as an annual percentage of average daily net assets for each class of the fund’s shares:
| Class | Rule 12b-1 Fee | Service fee |
| Class A | 0.30% | — |
| Class C | 1.00% | — |
| Class R2 | 0.25% | 0.25% |
Sales charges. Class A shares are assessed up-front sales charges, which resulted in payments to the Distributor amounting to $159,292 for the year ended August 31, 2022. Of this amount, $23,681 was retained and used for printing prospectuses, advertising, sales literature and other purposes and $135,611 was paid as sales commissions to broker-dealers.
Class A and Class C shares may be subject to contingent deferred sales charges (CDSCs). Certain Class A shares purchased, including those that are acquired through purchases of $1 million or more, and redeemed within one year of purchase are subject to a 1.00% sales charge. Class C shares that are redeemed within one year of purchase are subject to a 1.00% CDSC. CDSCs are applied to the lesser of the current market value at the time of redemption or the original purchase cost of the shares being redeemed. Proceeds from CDSCs are used to compensate the Distributor for providing distribution-related services in connection with the sale of these shares. During the year ended August 31, 2022, CDSCs received by the Distributor amounted to $5,488 and $3,711 for Class A and Class C shares, respectively.
Transfer agent fees. The John Hancock group of funds has a complex-wide transfer agent agreement with John Hancock Signature Services, Inc. (Signature Services), an affiliate of the Advisor. The transfer agent fees paid to Signature Services are determined based on the cost to Signature Services (Signature Services Cost) of providing recordkeeping services. It also includes out-of-pocket expenses, including payments made to third-parties for recordkeeping services provided to their clients who invest in one or more John Hancock funds. In addition, Signature Services Cost may be reduced by certain fees that Signature Services receives in connection with retirement and small accounts. Signature Services Cost is calculated monthly and allocated, as applicable, to five categories of share classes: Retail Share and Institutional Share Classes of Non-Municipal Bond Funds, Class R6 Shares, Retirement Share Classes and Municipal Bond Share Classes. Within each of these categories, the applicable costs are allocated to the affected John Hancock affiliated funds and/or classes, based on the relative average daily net assets.
Class level expenses. Class level expenses for the year ended August 31, 2022 were as follows:
| Class | Distribution and service fees | Transfer agent fees |
| Class A | $1,094,041 | $422,275 |
| Class C | 594,917 | 68,638 |
| Class I | — | 2,163,850 |
| Class R2 | 25,657 | 489 |
| Class R6 | — | 18,019 |
| Total | $1,714,615 | $2,673,271 |
Trustee expenses. The fund compensates each Trustee who is not an employee of the Advisor or its affiliates. The costs of paying Trustee compensation and expenses are allocated to the fund based on its net assets relative to other funds within the John Hancock group of funds complex.
| 60 | JOHN HANCOCK Strategic Income Opportunities Fund | ANNUAL REPORT | |
Interfund lending program. Pursuant to an Exemptive Order issued by the SEC, the fund, along with certain other funds advised by the Advisor or its affiliates, may participate in an interfund lending program. This program provides an alternative credit facility allowing the fund to borrow from, or lend money to, other participating affiliated funds. At period end, no interfund loans were outstanding. The fund’s activity in this program during the period for which loans were outstanding was as follows:
Borrower
or Lender | Weighted Average
Loan Balance | Days
Outstanding | Weighted Average
Interest Rate | Interest Income
(Expense) |
| Lender | $14,800,000 | 2 | 0.8% | $658 |
Note 6—Fund share transactions
Transactions in fund shares for the years ended August 31, 2022 and 2021 were as follows:
| | Year Ended 8-31-22 | Year Ended 8-31-21 |
| | Shares | Amount | Shares | Amount |
| Class A shares | | | | |
| Sold | 5,455,974 | $58,249,102 | 10,390,012 | $117,213,057 |
| Distributions reinvested | 1,056,296 | 11,140,808 | 743,907 | 8,413,617 |
| Repurchased | (8,190,724) | (86,578,150) | (6,579,606) | (74,328,915) |
| Net increase (decrease) | (1,678,454) | $(17,188,240) | 4,554,313 | $51,297,759 |
| Class C shares | | | | |
| Sold | 209,073 | $2,243,713 | 629,905 | $7,115,323 |
| Distributions reinvested | 131,541 | 1,394,405 | 135,385 | 1,528,761 |
| Repurchased | (2,855,634) | (30,346,366) | (7,336,553) | (82,617,698) |
| Net decrease | (2,515,020) | $(26,708,248) | (6,571,263) | $(73,973,614) |
| Class I shares | | | | |
| Sold | 61,066,568 | $642,932,832 | 47,372,958 | $535,296,737 |
| Distributions reinvested | 5,927,420 | 62,449,060 | 4,277,578 | 48,337,200 |
| Repurchased | (66,348,708) | (700,227,515) | (53,337,366) | (597,731,824) |
| Net increase (decrease) | 645,280 | $5,154,377 | (1,686,830) | $(14,097,887) |
| Class R2 shares | | | | |
| Sold | 98,009 | $1,056,712 | 94,092 | $1,061,591 |
| Distributions reinvested | 15,496 | 163,356 | 11,082 | 125,328 |
| Repurchased | (99,333) | (1,035,004) | (164,275) | (1,838,769) |
| Net increase (decrease) | 14,172 | $185,064 | (59,101) | $(651,850) |
| Class R6 shares | | | | |
| Sold | 4,743,666 | $50,603,752 | 5,191,452 | $58,694,573 |
| Distributions reinvested | 668,556 | 7,064,924 | 534,096 | 6,038,269 |
| Repurchased | (7,716,693) | (82,389,216) | (6,974,882) | (78,799,326) |
| Net decrease | (2,304,471) | $(24,720,540) | (1,249,334) | $(14,066,484) |
| | ANNUAL REPORT | JOHN HANCOCK Strategic Income Opportunities Fund | 61 |
| | Year Ended 8-31-22 | Year Ended 8-31-21 |
| | Shares | Amount | Shares | Amount |
| Class NAV shares | | | | |
| Sold | 4,356,965 | $46,472,779 | 14,252,748 | $161,275,955 |
| Distributions reinvested | 6,552,363 | 69,165,745 | 5,055,706 | 57,117,467 |
| Repurchased | (34,425,871) | (354,212,867) | (9,686,548) | (108,368,266) |
| Net increase (decrease) | (23,516,543) | $(238,574,343) | 9,621,906 | $110,025,156 |
| Total net increase (decrease) | (29,355,036) | $(301,851,930) | 4,609,691 | $58,533,080 |
Affiliates of the fund owned 6% and 89% of shares of Class R6 and Class NAV, respectively, on August 31, 2022. Such concentration of shareholders’ capital could have a material effect on the fund if such shareholders redeem from the fund.
Note 7—Purchase and sale of securities
Purchases and sales of securities, other than short-term investments and U.S. Treasury obligations, amounted to $1,302,723,510 and $1,567,499,569, respectively, for the year ended August 31, 2022. Purchases and sales of U.S. Treasury obligations aggregated $242,779,363 and $142,434,597, respectively, for the year ended August 31, 2022.
Note 8—Investment by affiliated funds
Certain investors in the fund are affiliated funds that are managed by the Advisor and its affiliates. The affiliated funds do not invest in the fund for the purpose of exercising management or control; however, this investment may represent a significant portion of the fund’s net assets. At August 31, 2022, funds within the John Hancock group of funds complex held 37.0% of the fund’s net assets. The following fund(s) had an affiliate ownership of 5% or more of the fund’s net assets:
| Fund | Affiliated Concentration |
| John Hancock Funds II Multimanager Lifestyle Balanced Portfolio | 14.8% |
| John Hancock Funds II Multimanager Lifestyle Growth Portfolio | 6.7% |
| John Hancock Funds II Multimanager Lifestyle Moderate Portfolio | 5.2% |
Note 9—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* | 13,549,215 | $29,012,253 | $556,492,787 | $(449,977,169) | $(36,978) | $(88,168) | $597,586 | $13,759 | $135,402,725 |
| * | Refer to the Securities lending note within Note 2 for details regarding this investment. |
| 62 | JOHN HANCOCK Strategic Income Opportunities Fund | ANNUAL REPORT | |
Note 10—LIBOR discontinuation risk
LIBOR (London Interbank Offered Rate) is a measure of the average interest rate at which major global banks can borrow from one another. Following allegations of rate manipulation and concerns regarding its thin liquidity, in July 2017, the U.K. Financial Conduct Authority, which regulates LIBOR, announced that it will stop encouraging banks to provide the quotations needed to sustain LIBOR. As market participants transition away from LIBOR, LIBOR’s usefulness may deteriorate and these effects could be experienced until the permanent cessation of the majority of U.S. LIBOR rates in 2023. The transition process may lead to increased volatility and illiquidity in markets that currently rely on LIBOR to determine interest rates. LIBOR’s deterioration may adversely affect the liquidity and/or market value of securities that use LIBOR as a benchmark interest rate.
The ICE Benchmark Administration Limited, the administrator of LIBOR, ceased publishing certain LIBOR maturities, including some U.S. LIBOR maturities, on December 31, 2021, and is expected to cease publishing the remaining and most liquid U.S. LIBOR maturities on June 30, 2023. It is expected that market participants have or will transition to the use of alternative reference or benchmark rates prior to the applicable LIBOR publication cessation date. Additionally, although regulators have encouraged the development and adoption of alternative rates such as the Secured Overnight Financing Rate ("SOFR"), the future utilization of LIBOR or of any particular replacement rate remains uncertain.
The impact on the transition away from LIBOR referenced financial instruments remains uncertain. It is expected that market participants will adopt alternative rates such as SOFR or otherwise amend such financial instruments to include fallback provisions and other measures that contemplate the discontinuation of LIBOR. Uncertainty and risk remain regarding the willingness and ability of issuers and lenders to include alternative rates and revised provisions in new and existing contracts or instruments. To facilitate the transition of legacy derivatives contracts referencing LIBOR, the International Swaps and Derivatives Association, Inc. launched a protocol to incorporate fallback provisions. There are obstacles to converting certain longer term securities to a new benchmark or benchmarks and the effectiveness of one versus multiple alternative reference rates has not been determined. Certain proposed replacement rates, such as SOFR, are materially different from LIBOR, and will require changes to the applicable spreads. Furthermore, the risks associated with the conversion from LIBOR may be exacerbated if an orderly transition is not completed in a timely manner.
Note 11—Coronavirus (COVID-19) pandemic
The COVID-19 disease has resulted in significant disruptions to global business activity. A widespread health crisis such as a global pandemic could cause substantial market volatility, exchange-trading suspensions, and closures, which may lead to less liquidity in certain instruments, industries, sectors or the markets generally, and may ultimately affect fund performance.
Note 12—New accounting pronouncement
In March 2020, the Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU), ASU 2020-04, which provides optional, temporary relief with respect to the financial reporting of contracts subject to certain types of modifications due to the planned discontinuation of the LIBOR and other IBOR-based reference rates as of the end of 2021. The temporary relief provided by ASU 2020-04 is effective for certain reference rate-related contract modifications that occur during the period March 12, 2020 through December 31, 2022. Management expects that the adoption of the guidance will not have a material impact to the financial statements.
| | ANNUAL REPORT | JOHN HANCOCK Strategic Income Opportunities Fund | 63 |
Report of Independent Registered Public Accounting Firm
To the Board of Trustees of John Hancock Funds II and Shareholders of John Hancock Strategic Income Opportunities Fund
Opinion on the Financial Statements
We have audited the accompanying statement of assets and liabilities, including the fund’s investments, of John Hancock Strategic Income Opportunities Fund (one of the funds constituting John Hancock Funds II, referred to hereafter as the "Fund") as of August 31, 2022, the related statement of operations for the year ended August 31, 2022, the statements of changes in net assets for each of the two years in the period ended August 31, 2022, including the related notes, and the financial highlights for each of the five years in the period ended August 31, 2022 (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of August 31, 2022, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended August 31, 2022 and the financial highlights for each of the five years in the period ended August 31, 2022 in conformity with accounting principles generally accepted in the United States of America.
Basis for Opinion
These financial statements are the responsibility of the Fund’s management. Our responsibility is to express an opinion on the Fund’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.
Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of August 31, 2022 by correspondence with the custodian, transfer agent, agent banks and brokers; when replies were not received from agent banks and brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.
/s/ PricewaterhouseCoopers LLP
Boston, Massachusetts
October 21, 2022
We have served as the auditor of one or more investment companies in the John Hancock group of funds since 1988.
| 64 | JOHN HANCOCK STRATEGIC INCOME OPPORTUNITIES FUND | ANNUAL REPORT | |
(Unaudited)
For federal income tax purposes, the following information is furnished with respect to the distributions of the fund, if any, paid during its taxable year ended August 31, 2022.
The fund reports the maximum amount allowable of its net taxable income as eligible for the corporate dividends-received deduction.
The fund reports the maximum amount allowable of its net taxable income as qualified dividend income as provided in the Jobs and Growth Tax Relief Reconciliation Act of 2003.
The fund reports the maximum amount allowable as Section 163(j) Interest Dividends.
The fund reports the maximum amount allowable of its Section 199A dividends as defined in Proposed Treasury Regulation §1.199A-3(d).
Eligible shareholders will be mailed a 2022 Form 1099-DIV in early 2023. This will reflect the tax character of all distributions paid in calendar year 2022.
Please consult a tax advisor regarding the tax consequences of your investment in the fund.
| | ANNUAL REPORT | JOHN HANCOCK STRATEGIC INCOME OPPORTUNITIES FUND | 65 |
EVALUATION OF ADVISORY AND SUBADVISORY AGREEMENTS BY THE BOARD OF TRUSTEES
This section describes the evaluation by the Board of Trustees (the Board) of John Hancock Funds II (the Trust) of the Advisory Agreement (the Advisory Agreement) with John Hancock Investment Management LLC (the Advisor) and the Subadvisory Agreement (the Subadvisory Agreement) with Manulife Investment Management (US) LLC (the Subadvisor) for John Hancock Strategic Income Opportunities Fund (the fund). The Advisory Agreement and Subadvisory Agreement are collectively referred to as the Agreements. Prior to the June 21-23, 2022 videoconference1 meeting at which the Agreements were approved, the Board also discussed and considered information regarding the proposed continuation of the Agreements at a videoconference meeting held on May 24-25, 2022. The Trustees who are not “interested persons” of the Trust as defined by the Investment Company Act of 1940, as amended (the “1940 Act”) (the “Independent Trustees”) also met separately to evaluate and discuss the information presented, including with counsel to the Independent Trustees and a third-party consulting firm.
Approval of Advisory and Subadvisory Agreements
At videoconference meetings held on June 21-23, 2022, the Board, including the Trustees who are not parties to any Agreement or considered to be interested persons of the Trust under the 1940 Act, reapproved for an annual period the continuation of the Advisory Agreement between the Trust and the Advisor and the Subadvisory Agreement between the Advisor and the Subadvisor with respect to the fund.
In considering the Advisory Agreement and the Subadvisory Agreement, the Board received in advance of the meetings a variety of materials relating to the fund, the Advisor and the Subadvisor, including comparative performance, fee and expense information for a peer group of similar funds prepared by an independent third-party provider of fund data, performance information for an applicable benchmark index; and, with respect to the Subadvisor, comparative performance information for comparably managed accounts, as applicable, and other information provided by the Advisor and the Subadvisor regarding the nature, extent and quality of services provided by the Advisor and the Subadvisor under their respective Agreements, as well as information regarding the Advisor’s revenues and costs of providing services to the fund and any compensation paid to affiliates of the Advisor. At the meetings at which the renewal of the Advisory Agreement and Subadvisory Agreement are considered, particular focus is given to information concerning fund performance, comparability of fees and total expenses, and profitability. However, the Board notes that the evaluation process with respect to the Advisor and the Subadvisor is an ongoing one. In this regard, the Board also took into account discussions with management and information provided to the Board (including its various committees) at prior meetings with respect to the services provided by the Advisor and the Subadvisor to the fund, including quarterly performance reports prepared by management containing reviews of investment results and prior presentations from the Subadvisor with respect to the fund. The information received and considered by the Board in connection with the May and June meetings and throughout the year was both written and oral. The Board noted the affiliation of the Subadvisor with the Advisor, noting any potential conflicts of interest. The Board also considered the nature, quality, and extent of
1On June 19, 2020, as a result of health and safety measures put in place to combat the global COVID-19 pandemic, the Securities and Exchange Commission issued an exemptive order (the “Order”) pursuant to Sections 6(c) and 38(a) of the Investment Company Act of 1940, as amended (the “1940 Act”), that temporarily exempts registered investment management companies from the in-person voting requirements under the 1940 Act, subject to certain requirements, including that votes taken pursuant to the Order are ratified at the next in-person meeting. The Board determined that reliance on the Order was necessary or appropriate due to the circumstances related to current or potential effects of COVID-19 and therefore, the Board’s May and June meetings were held via videoconference in reliance on the Order. This exemptive order supersedes, in part, a similar earlier exemptive order issued by the SEC.
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non-advisory services, if any, to be provided to the fund by the Advisor’s affiliates, including distribution services. The Board considered the Advisory Agreement and the Subadvisory Agreement separately in the course of its review. In doing so, the Board noted the respective roles of the Advisor and Subadvisor in providing services to the fund.
Throughout the process, the Board asked questions of and requested additional information from management. The Board is assisted by counsel for the Trust and the Independent Trustees are also separately assisted by independent legal counsel throughout the process. The Independent Trustees also received a memorandum from their independent legal counsel discussing the legal standards for their consideration of the proposed continuation of the Agreements and discussed the proposed continuation of the Agreements in private sessions with their independent legal counsel at which no representatives of management were present.
Approval of Advisory Agreement
In approving the Advisory Agreement with respect to the fund, the Board, including the Independent Trustees, considered a variety of factors, including those discussed below. The Board also considered other factors (including conditions and trends prevailing generally in the economy, the securities markets, and the industry) and did not treat any single factor as determinative, and each Trustee may have attributed different weights to different factors. The Board’s conclusions may be based in part on its consideration of the advisory and subadvisory arrangements in prior years and on the Board’s ongoing regular review of fund performance and operations throughout the year.
Nature, extent, and quality of services. Among the information received by the Board from the Advisor relating to the nature, extent, and quality of services provided to the fund, the Board reviewed information provided by the Advisor relating to its operations and personnel, descriptions of its organizational and management structure, and information regarding the Advisor’s compliance and regulatory history, including its Form ADV. The Board also noted that on a regular basis it receives and reviews information from the Trust’s Chief Compliance Officer (CCO) regarding the fund’s compliance policies and procedures established pursuant to Rule 38a-1 under the 1940 Act. The Board observed that the scope of services provided by the Advisor, and of the undertakings required of the Advisor in connection with those services, including maintaining and monitoring its own and the fund’s compliance programs, risk management programs, liquidity management programs and cybersecurity programs, had expanded over time as a result of regulatory, market and other developments. The Board considered that the Advisor is responsible for the management of the day-to-day operations of the fund, including, but not limited to, general supervision of and coordination of the services provided by the Subadvisor, and is also responsible for monitoring and reviewing the activities of the Subadvisor and third-party service providers. The Board also considered the significant risks assumed by the Advisor in connection with the services provided to the fund including entrepreneurial risk in sponsoring new funds and ongoing risks including investment, operational, enterprise, litigation, regulatory and compliance risks with respect to all funds.
In considering the nature, extent, and quality of the services provided by the Advisor, the Trustees also took into account their knowledge of the Advisor’s management and the quality of the performance of the Advisor’s duties, through Board meetings, discussions and reports during the preceding year and through each Trustee’s experience as a Trustee of the Trust and of the other trusts in the John Hancock group of funds complex (the John Hancock Fund Complex).
In the course of their deliberations regarding the Advisory Agreement, the Board considered, among other things:
| (a) | the skills and competency with which the Advisor has in the past managed the Trust’s affairs and its subadvisory relationship, the Advisor’s oversight and monitoring of the Subadvisor’s investment performance and compliance programs, such as the Subadvisor’s compliance with fund policies and objectives, review of brokerage matters, including with respect to trade allocation and best execution and the Advisor’s timeliness in responding to performance issues; |
| (b) | the background, qualifications and skills of the Advisor’s personnel; |
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| (c) | the Advisor’s compliance policies and procedures and its responsiveness to regulatory changes and fund industry developments; |
| (d) | the Advisor’s administrative capabilities, including its ability to supervise the other service providers for the fund, as well as the Advisor’s oversight of any securities lending activity, its monitoring of class action litigation and collection of class action settlements on behalf of the fund, and bringing loss recovery actions on behalf of the fund; |
| (e) | the financial condition of the Advisor and whether it has the financial wherewithal to provide a high level and quality of services to the fund; |
| (f) | the Advisor’s initiatives intended to improve various aspects of the Trust’s operations and investor experience with the fund; and |
| (g) | the Advisor’s reputation and experience in serving as an investment advisor to the Trust and the benefit to shareholders of investing in funds that are part of a family of funds offering a variety of investments. |
The Board concluded that the Advisor may reasonably be expected to continue to provide a high quality of services under the Advisory Agreement with respect to the fund.
Investment performance. In considering the fund’s performance, the Board noted that it reviews at its regularly scheduled meetings information about the fund’s performance results. In connection with the consideration of the Advisory Agreement, the Board:
| (a) | reviewed information prepared by management regarding the fund’s performance; |
| (b) | considered the comparative performance of an applicable benchmark index; |
| (c) | considered the performance of comparable funds, if any, as included in the report prepared by an independent third-party provider of fund data; and |
| (d) | took into account the Advisor’s analysis of the fund’s performance and its plans and recommendations regarding the Trust’s subadvisory arrangements generally. |
The Board noted that while it found the data provided by the independent third-party generally useful it recognized its limitations, including in particular that the data may vary depending on the end date selected and that the results of the performance comparisons may vary depending on the selection of the peer group. The Board noted that the fund outperformed the benchmark index for the one-, three-. five- and ten-year periods ended December 31, 2021. The Board also noted that the fund outperformed the peer group median for the three-year period, performed in-line with the peer group median for the ten-year period and underperformed the peer group median for the one- and five-year periods ended December 31, 2021. The Board took into account management’s discussion of the fund’s performance, including the favorable performance relative to the benchmark index for the one-, three-, five- and ten-year periods and to the peer group median for the three-year period. The Board took into account management’s discussion of the factors that contributed to the fund’s performance for the peer group median for the one- and five-year periods including the impact of past and current market conditions on the fund’s strategy and management’s plans for the fund. The Board concluded that the fund’s performance is being monitored and reasonably addressed, where appropriate.
Fees and expenses. The Board reviewed comparative information prepared by an independent third-party provider of fund data, including, among other data, the fund’s contractual and net management fees (and subadvisory fees, to the extent available) and total expenses as compared to similarly situated investment companies deemed to be comparable to the fund in light of the nature, extent and quality of the management and advisory and subadvisory services provided by the Advisor and the Subadvisor. The Board considered the fund’s ranking with a smaller group of peer funds chosen by the independent third-party provider, as well as the fund’s ranking within a broader
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group of funds. In comparing the fund’s contractual and net management fees to those of comparable funds, the Board noted that such fees include both advisory and administrative costs. The Board noted that net management fees and total expenses for the fund are higher than the peer group median.
The Board took into account management’s discussion of the fund’s expenses, including actions management took during the prior year to reduce the fund’s expenses. The Board also took into account management’s discussion with respect to the overall management fee and the fees of the Subadvisor, including the amount of the advisory fee retained by the Advisor after payment of the subadvisory fee, in each case in light of the services rendered for those amounts and the risks undertaken by the Advisor. The Board also noted that the Advisor pays the subadvisory fee. In addition, the Board took into account that management had agreed to implement an overall fee waiver across the complex, including the fund, which is discussed further below. The Board also noted that, in addition, the Advisor is currently waiving fees and/or reimbursing expenses with respect to the fund and that the fund has breakpoints in its contractual management fee schedule that reduces management fees as assets increase. The Board reviewed information provided by the Advisor concerning the investment advisory fee charged by the Advisor or one of its advisory affiliates to other clients (including other funds in the John Hancock Fund Complex) having similar investment mandates, if any. The Board considered any differences between the Advisor’s and Subadvisor’s services to the fund and the services they provide to other comparable clients or funds. The Board concluded that the advisory fee paid with respect to the fund is reasonable in light of the nature, extent and quality of the services provided to the fund under the Advisory Agreement.
Profitability/Indirect benefits. In considering the costs of the services to be provided and the profits to be realized by the Advisor and its affiliates (including the Subadvisor) from the Advisor’s relationship with the Trust, the Board:
| (a) | reviewed financial information of the Advisor; |
| (b) | reviewed and considered information presented by the Advisor regarding the net profitability to the Advisor and its affiliates with respect to the fund; |
| (c) | received and reviewed profitability information with respect to the John Hancock Fund Complex as a whole and with respect to the fund; |
| (d) | received information with respect to the Advisor’s allocation methodologies used in preparing the profitability data and considered that the Advisor hired an independent third-party consultant to provide an analysis of the Advisor’s allocation methodologies; |
| (e) | considered that the John Hancock insurance companies that are affiliates of the Advisor, as shareholders of the Trust directly or through their separate accounts, receive certain tax credits or deductions relating to foreign taxes paid and dividends received by certain funds of the Trust and noted that these tax benefits, which are not available to participants in qualified retirement plans under applicable income tax law, are reflected in the profitability information reviewed by the Board; |
| (f) | considered that the Advisor also provides administrative services to the fund on a cost basis pursuant to an administrative services agreement; |
| (g) | noted that affiliates of the Advisor provide transfer agency services and distribution services to the fund, and that the fund’s distributor also receives Rule 12b-1 payments to support distribution of the fund; |
| (h) | noted that the fund’s Subadvisor is an affiliate of the Advisor; |
| (i) | noted that the Advisor also derives reputational and other indirect benefits from providing advisory services to the fund; |
| (j) | noted that the subadvisory fee for the fund is paid by the Advisor; |
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| (k) | considered the Advisor’s ongoing costs and expenditures necessary to improve services, meet new regulatory and compliance requirements, and adapt to other challenges impacting the fund industry; and |
| (l) | considered that the Advisor should be entitled to earn a reasonable level of profits in exchange for the level of services it provides to the fund and the risks that it assumes as Advisor, including entrepreneurial, operational, reputational, litigation and regulatory risk. |
Based upon its review, the Board concluded that the level of profitability, if any, of the Advisor and its affiliates from their relationship with the fund was reasonable and not excessive.
Economies of scale. In considering the extent to which economies of scale would be realized as the fund grows and whether fee levels reflect these economies of scale for the benefit of fund shareholders, the Board:
| (a) | considered that the Advisor has contractually agreed to waive a portion of its management fee for certain funds of the John Hancock Fund Complex, including the fund (the participating portfolios) or otherwise reimburse the expenses of the participating portfolios (the reimbursement). This waiver is based upon aggregate net assets of all the participating portfolios. The amount of the reimbursement is calculated daily and allocated among all the participating portfolios in proportion to the daily net assets of each fund; |
| (b) | reviewed the fund’s advisory fee structure and concluded that: (i) the fund’s fee structure contains breakpoints at the subadvisory fee level and that such breakpoints are reflected as breakpoints in the advisory fees for the fund; and (ii) although economies of scale cannot be measured with precision, these arrangements permit shareholders of the fund to benefit from economies of scale if the fund grows. The Board also took into account management’s discussion of the fund’s advisory fee structure; and |
| (c) | the Board also considered the effect of the fund’s growth in size on its performance and fees. The Board also noted that if the fund’s assets increase over time, the fund may realize other economies of scale. |
Approval of Subadvisory Agreement
In making its determination with respect to approval of the Subadvisory Agreement, the Board reviewed:
| (1) | information relating to the Subadvisor’s business, including current subadvisory services to the Trust (and other funds in the John Hancock Fund Complex); |
| (2) | the historical and current performance of the fund and comparative performance information relating to an applicable benchmark index and comparable funds; and |
| (3) | the subadvisory fee for the fund, including any breakpoints, and to the extent available, comparable fee information prepared by an independent third party provider of fund data; |
Nature, extent, and quality of services. With respect to the services provided by the Subadvisor, the Board received information provided to the Board by the Subadvisor, including the Subadvisor’s Form ADV, as well as took into account information presented throughout the past year. The Board considered the Subadvisor’s current level of staffing and its overall resources, as well as received information relating to the Subadvisor’s compensation program. The Board reviewed the Subadvisor’s history and investment experience, as well as information regarding the qualifications, background, and responsibilities of the Subadvisor’s investment and compliance personnel who provide services to the fund. The Board also considered, among other things, the Subadvisor’s compliance program and any disciplinary history. The Board also considered the Subadvisor’s risk assessment and monitoring process. The Board reviewed the Subadvisor’s regulatory history, including whether it was involved in any regulatory actions or investigations as well as material litigation, and any settlements and amelioratory actions undertaken, as
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appropriate. The Board noted that the Advisor conducts regular, periodic reviews of the Subadvisor and its operations, including regarding investment processes and organizational and staffing matters. The Board also noted that the Trust’s CCO and his staff conduct regular, periodic compliance reviews with the Subadvisor and present reports to the Independent Trustees regarding the same, which includes evaluating the regulatory compliance systems of the Subadvisor and procedures reasonably designed to assure compliance with the federal securities laws. The Board also took into account the financial condition of the Subadvisor.
The Board considered the Subadvisor’s investment process and philosophy. The Board took into account that the Subadvisor’s responsibilities include the development and maintenance of an investment program for the fund that is consistent with the fund’s investment objective, the selection of investment securities and the placement of orders for the purchase and sale of such securities, as well as the implementation of compliance controls related to performance of these services. The Board also received information with respect to the Subadvisor’s brokerage policies and practices, including with respect to best execution and soft dollars.
Subadvisor compensation. In considering the cost of services to be provided by the Subadvisor and the profitability to the Subadvisor of its relationship with the fund, the Board noted that the fees under the Subadvisory Agreement are paid by the Advisor and not the fund. The Board also received information and took into account any other potential conflicts of interest the Advisor might have in connection with the Subadvisory Agreement.
In addition, the Board considered other potential indirect benefits that the Subadvisor and its affiliates may receive from the Subadvisor’s relationship with the fund, such as the opportunity to provide advisory services to additional funds in the John Hancock Fund Complex and reputational benefits.
Subadvisory fees. The Board considered that the fund pays an advisory fee to the Advisor and that, in turn, the Advisor pays a subadvisory fee to the Subadvisor. As noted above, the Board also considered the fund’s subadvisory fees as compared to similarly situated investment companies deemed to be comparable to the fund as included in the report prepared by the independent third party provider of fund data, to the extent available. The Board noted that the limited size of the Lipper peer group was not sufficient for comparative purposes. The Board also took into account the subadvisory fees paid by the Advisor to the Subadvisor with respect to the fund and compared them to fees charged by the Subadvisor to manage other subadvised portfolios and portfolios not subject to regulation under the 1940 Act, as applicable.
Subadvisor performance. As noted above, the Board considered the fund’s performance as compared to the fund’s peer group median and the benchmark index and noted that the Board reviews information about the fund’s performance results at its regularly scheduled meetings. The Board noted the Advisor’s expertise and resources in monitoring the performance, investment style and risk-adjusted performance of the Subadvisor. The Board was mindful of the Advisor’s focus on the Subadvisor’s performance. The Board also noted the Subadvisor’s long-term performance record for similar accounts, as applicable.
The Board’s decision to approve the Subadvisory Agreement was based on a number of determinations, including the following:
| (1) | the Subadvisor has extensive experience and demonstrated skills as a manager; |
| (2) | the performance of the fund is being monitored and reasonably addressed, where appropriate; |
| (3) | the subadvisory fee is reasonable in relation to the level and quality of services being provided under the Subadvisory Agreement; and |
| (4) | noted that the subadvisory fees are paid by the Advisor not the fund and that the subadvisory fee breakpoints are reflected as breakpoints in the advisory fees for the fund in order to permit shareholders to benefit from economies of scale if the fund grows. |
***
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Based on the Board’s evaluation of all factors that the Board deemed to be material, including those factors described above, the Board, including the Independent Trustees, concluded that renewal of the Advisory Agreement and the Subadvisory Agreement would be in the best interest of the fund and its shareholders. Accordingly, the Board, and the Independent Trustees voting separately, approved the Advisory Agreement and Subadvisory Agreement for an additional one-year period.
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STATEMENT REGARDING LIQUIDITY RISK MANAGEMENT
Operation of the Liquidity Risk Management Program
This section describes the operation and effectiveness of the Liquidity Risk Management Program (LRMP) established in accordance with Rule 22e-4 under the Investment Company Act of 1940, as amended (the Liquidity Rule). The Board of Trustees (the Board) of each Fund in the John Hancock Group of Funds (each a Fund and collectively, the Funds) that is subject to the requirements of the Liquidity Rule has appointed John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (together, the Advisor) to serve as Administrator of the LRMP with respect to each of the Funds, including John Hancock Strategic Income Opportunities Fund, subject to the oversight of the Board. In order to provide a mechanism and process to perform the functions necessary to administer the LRMP, the Advisor established the Liquidity Risk Management Committee (the Committee). The Fund’s subadvisor, Manulife Investment Management (US) LLC (the Subadvisor) executes the day-to-day investment management and security-level activities of the Fund in accordance with the requirements of the LRMP, subject to the supervision of the Advisor and the Board.
The Committee receives monthly reports and holds quarterly meetings to: (1) review the day-to-day operations of the LRMP; (2) monitor current market and liquidity conditions; (3) review and approve month-end liquidity classifications; (4) monitor illiquid investment levels against the 15% limit on illiquid investments and established Highly Liquid Investment Minimums (HLIMs), if any; (5) review quarterly testing and determinations, as applicable; (6) review redemption-in-kind activities; and (7) review other LRMP related material. The Advisor also conducts daily, monthly, quarterly, and annual quantitative and qualitative assessments of each subadvisor to a Fund that is subject to the requirements of the Liquidity Rule and is a part of the LRMP to monitor investment performance issues, risks and trends. In addition, the Advisor may conduct ad-hoc reviews and meetings with subadvisors as issues and trends are identified, including potential liquidity issues. The Committee also monitors global events, such as the ongoing COVID-19 Coronavirus pandemic and amendments to the Office of Foreign Assets Control sanctioned company lists, that could impact the markets and liquidity of portfolio investments and their classifications.
The Committee provided the Board at a meeting held by videoconference on March 22-24, 2022 with a written report which addressed the Committee’s assessment of the adequacy and effectiveness of the implementation and operation of the LRMP and any material changes to the LRMP. The report, which covered the period January 1, 2021 through December 31, 2021, included an assessment of important aspects of the LRMP including, but not limited to: (1) Security-level liquidity classifications; (2) Fund-level liquidity risk assessment; (3) Reasonably Anticipated Trade Size (RATS) determination; (4) HLIM determination; (5) Compliance with the 15% limit on illiquid investments; (6) Operation of the Fund’s Redemption-In-Kind Procedures; and (7) Review of liquidity management facilities.
Additionally, the report included a discussion of notable changes and enhancements to the LRMP implemented during 2021 and key initiatives for 2022.
The report also covered material liquidity matters which occurred or were reported during this period applicable to the Fund, if any, and the Committee’s actions to address such matters.
The report stated, in relevant part, that during the period covered by the report:
| • | The Fund’s investment strategy remained appropriate for an open-end fund structure; |
| • | The Fund was able to meet requests for redemption without significant dilution of remaining shareholders’ interests in the Fund; |
| • | The Fund did not report any breaches of the 15% limit on illiquid investments that would require reporting to the Securities and Exchange Commission; |
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| • | The Fund continued to qualify as a Primarily Highly Liquid Fund under the Liquidity Rule and therefore is not required to establish a HLIM; and |
| • | The Chief Compliance Officer’s office, as a part of their annual Rule 38a-1 assessment of the Fund’s policies and procedures, reviewed the LRMP’s control environment and deemed it to be operating effectively and in compliance with the Board approved procedures. |
Adequacy and Effectiveness
Based on the review and assessment conducted by the Committee, the Committee has determined that the LRMP and its controls have been implemented and are operating in a manner that is adequately and effectively managing the liquidity risk of the Fund.
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This chart provides information about the Trustees and Officers who oversee your John Hancock fund. Officers elected by the Trustees manage the day-to-day operations of the fund and execute policies formulated by the Trustees.
| Independent Trustees | | |
Name, year of birth
Position(s) held with Trust
Principal occupation(s) and other
directorships during past 5 years | Trustee
of the
Trust
since1 | Number of John
Hancock funds
overseen by
Trustee |
| Hassell H. McClellan, Born: 1945 | 2005 | 192 |
| Trustee and Chairperson of the Board | | |
| Director/Trustee, Virtus Funds (2008-2020); Director, The Barnes Group (2010-2021); Associate Professor, The Wallace E. Carroll School of Management, Boston College (retired 2013). Trustee (since 2005) and Chairperson of the Board (since 2017) of various trusts within the John Hancock Fund Complex. |
| James R. Boyle, Born: 1959 | 2015 | 192 |
| Trustee | | |
| Foresters Financial, Chief Executive Officer (2018–2022) and board member (2017–2022). Manulife Financial and John Hancock, more than 20 years, retiring in 2012 as Chief Executive Officer, John Hancock and Senior Executive Vice President, Manulife Financial. Trustee of various trusts within the John Hancock Fund Complex (2005–2014 and since 2015). |
| Peter S. Burgess,2 Born: 1942 | 2005 | 192 |
| Trustee | | |
| Consultant (financial, accounting, and auditing matters) (since 1999); Certified Public Accountant; Partner, Arthur Andersen (independent public accounting firm) (prior to 1999); Director, Lincoln Educational Services Corporation (2004-2021); Director, Symetra Financial Corporation (2010–2016); Director, PMA Capital Corporation (2004–2010). Trustee of various trusts within the John Hancock Fund Complex (since 2005). |
| William H. Cunningham,2 Born: 1944 | 2012 | 192 |
| Trustee | | |
| Professor, University of Texas, Austin, Texas (since 1971); former Chancellor, University of Texas System and former President of the University of Texas, Austin, Texas; Director (since 2006), Lincoln National Corporation (insurance); Director, Southwest Airlines (since 2000). Trustee of various trusts within the John Hancock Fund Complex (since 1986). |
| Noni L. Ellison,* Born: 1971 | 2022 | 192 |
| Trustee | | |
| Senior Vice President, General Counsel & Corporate Secretary, Tractor Supply Company (rural lifestyle retailer) (since 2021); General Counsel, Chief Compliance Officer & Corporate Secretary, Carestream Dental, L.L.C.(2017–2021); Associate General Counsel & Assistant Corporate Secretary, W.W. Grainger, Inc. (global industrial supplier) (2015–2017); Board Member, Goodwill of North Georgia, 2018 (FY2019)–2020 (FY2021); Board Member, Howard University School of Law Board of Visitors (since 2021); Board Member, University of Chicago Law School Board of Visitors (since 2016); Board member, Children’s Healthcare of Atlanta Foundation Board (2021–present). |
| Grace K. Fey, Born: 1946 | 2008 | 192 |
| Trustee | | |
| Chief Executive Officer, Grace Fey Advisors (since 2007); Director and Executive Vice President, Frontier Capital Management Company (1988–2007); Director, Fiduciary Trust (since 2009). Trustee of various trusts within the John Hancock Fund Complex (since 2008). |
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| Independent Trustees (continued) | | |
Name, year of birth
Position(s) held with Trust
Principal occupation(s) and other
directorships during past 5 years | Trustee
of the
Trust
since1 | Number of John
Hancock funds
overseen by
Trustee |
| Dean C. Garfield,* Born: 1968 | 2022 | 192 |
| Trustee | | |
| Vice President, Netflix, Inc. (since 2019); President & Chief Executive Officer, Information Technology Industry Council (2009–2019); NYU School of Law Board of Trustees (since 2021); Member, U.S. Department of Transportation, Advisory Committee on Automation (since 2021); President of the United States Trade Advisory Council (2010–2018); Board Member, College for Every Student (2017–2021); Board Member, The Seed School of Washington, D.C. (2012–2017). |
| Deborah C. Jackson, Born: 1952 | 2012 | 192 |
| Trustee | | |
| President, Cambridge College, Cambridge, Massachusetts (since 2011); Board of Directors, Amwell Corporation (since 2020); Board of Directors, Massachusetts Women’s Forum (2018-2020); Board of Directors, National Association of Corporate Directors/New England (2015-2020); Chief Executive Officer, American Red Cross of Massachusetts Bay (2002–2011); Board of Directors of Eastern Bank Corporation (since 2001); Board of Directors of Eastern Bank Charitable Foundation (since 2001); Board of Directors of Boston Stock Exchange (2002–2008); Board of Directors of Harvard Pilgrim Healthcare (health benefits company) (2007–2011). Trustee of various trusts within the John Hancock Fund Complex (since 2008). |
| Patricia Lizarraga,2,* Born: 1966 | 2022 | 192 |
| Trustee | | |
| Founder, Chief Executive Officer, Hypatia Capital Group (advisory and asset management company) (since 2007); Independent Director, Audit Committee Chair, and Risk Committee Member, Credicorp, Ltd. (since 2017); Independent Director, Audit Committee Chair, Banco De Credito Del Peru (since 2017); Trustee, Museum of Art of Lima (since 2009). |
| Steven R. Pruchansky, Born: 1944 | 2012 | 192 |
| Trustee and Vice Chairperson of the Board | | |
| Managing Director, Pru Realty (since 2017); Chairman and Chief Executive Officer, Greenscapes of Southwest Florida, Inc. (2014-2020); Director and President, Greenscapes of Southwest Florida, Inc. (until 2000); Member, Board of Advisors, First American Bank (until 2010); Managing Director, Jon James, LLC (real estate) (since 2000); Partner, Right Funding, LLC (2014-2017); Director, First Signature Bank & Trust Company (until 1991); Director, Mast Realty Trust (until 1994); President, Maxwell Building Corp. (until 1991). Trustee (since 1992), Chairperson of the Board (2011–2012), and Vice Chairperson of the Board (since 2012) of various trusts within the John Hancock Fund Complex. |
| Frances G. Rathke,2 Born: 1960 | 2020 | 192 |
| Trustee | | |
| Director, Audit Committee Chair, Oatly Group AB (plant-based drink company) (since 2021); Director, Audit Committee Chair and Compensation Committee Member, Green Mountain Power Corporation (since 2016); Director, Treasurer and Finance & Audit Committee Chair, Flynn Center for Performing Arts (since 2016); Director and Audit Committee Chair, Planet Fitness (since 2016); Chief Financial Officer and Treasurer, Keurig Green Mountain, Inc. (2003-retired 2015). Trustee of various trusts within the John Hancock Fund Complex (since 2020). |
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| Independent Trustees (continued) | | |
Name, year of birth
Position(s) held with Trust
Principal occupation(s) and other
directorships during past 5 years | Trustee
of the
Trust
since1 | Number of John
Hancock funds
overseen by
Trustee |
| Gregory A. Russo, Born: 1949 | 2012 | 192 |
| Trustee | | |
| Director and Audit Committee Chairman (2012-2020), and Member, Audit Committee and Finance Committee (2011-2020), NCH Healthcare System, Inc. (holding company for multi-entity healthcare system); Director and Member (2012-2018), and Finance Committee Chairman (2014-2018), The Moorings, Inc. (nonprofit continuing care community); Global Vice Chairman, Risk & Regulatory Matters, KPMG LLP (KPMG) (2002–2006); Vice Chairman, Industrial Markets, KPMG (1998–2002). Trustee of various trusts within the John Hancock Fund Complex (since 2008). |
| Non-Independent Trustees3 | | |
Name, year of birth
Position(s) held with Trust
Principal occupation(s) and other
directorships during past 5 years | Trustee
of the
Trust
since1 | Number of John
Hancock funds
overseen by
Trustee |
| Andrew G. Arnott, Born: 1971 | 2017 | 192 |
| President and Non-Independent Trustee | | |
| Head of Wealth and Asset Management, United States and Europe, for John Hancock and Manulife (since 2018); Director and Executive Vice President, John Hancock Investment Management LLC (since 2005, including prior positions); Director and Executive Vice President, John Hancock Variable Trust Advisers LLC (since 2006, including prior positions); President, John Hancock Investment Management Distributors LLC (since 2004, including prior positions); President of various trusts within the John Hancock Fund Complex (since 2007, including prior positions). Trustee of various trusts within the John Hancock Fund Complex (since 2017). |
| Marianne Harrison, Born: 1963 | 2018 | 192 |
| Non-Independent Trustee | | |
| President and CEO, John Hancock (since 2017); President and CEO, Manulife Canadian Division (2013–2017); Member, Board of Directors, Boston Medical Center (since 2021); Member, Board of Directors, CAE Inc. (since 2019); Member, Board of Directors, MA Competitive Partnership Board (since 2018); Member, Board of Directors, American Council of Life Insurers (ACLI) (since 2018); Member, Board of Directors, Communitech, an industry-led innovation center that fosters technology companies in Canada (2017-2019); Member, Board of Directors, Manulife Assurance Canada (2015-2017); Board Member, St. Mary’s General Hospital Foundation (2014-2017); Member, Board of Directors, Manulife Bank of Canada (2013- 2017); Member, Standing Committee of the Canadian Life & Health Assurance Association (2013-2017); Member, Board of Directors, John Hancock USA, John Hancock Life & Health, John Hancock New York (2012–2013). Trustee of various trusts within the John Hancock Fund Complex (since 2018). |
| Paul Lorentz,† Born: 1968 | 2022 | 192 |
| Non-Independent Trustee | | |
| Global Head, Manulife Wealth and Asset Management (since 2017); General Manager, Manulife, Individual Wealth Management and Insurance (2013–2017); President, Manulife Investments (2010–2016). |
| | ANNUAL REPORT | JOHN HANCOCK STRATEGIC INCOME OPPORTUNITIES FUND | 77 |
| Principal officers who are not Trustees | |
Name, year of birth
Position(s) held with Trust
Principal occupation(s)
during past 5 years | Current
Position(s)
with the
Trust
since |
| Charles A. Rizzo, Born: 1957 | 2007 |
| Chief Financial Officer | |
| Vice President, John Hancock Financial Services (since 2008); Senior Vice President, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2008); Chief Financial Officer of various trusts within the John Hancock Fund Complex (since 2007). |
| Salvatore Schiavone, Born: 1965 | 2009 |
| Treasurer | |
| Assistant Vice President, John Hancock Financial Services (since 2007); Vice President, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2007); Treasurer of various trusts within the John Hancock Fund Complex (since 2007, including prior positions). |
| Christopher (Kit) Sechler, Born: 1973 | 2018 |
| Secretary and Chief Legal Officer | |
| Vice President and Deputy Chief Counsel, John Hancock Investment Management (since 2015); Assistant Vice President and Senior Counsel (2009–2015), John Hancock Investment Management; Assistant Secretary of John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2009); Chief Legal Officer and Secretary of various trusts within the John Hancock Fund Complex (since 2009, including prior positions). |
| Trevor Swanberg, Born: 1979 | 2020 |
| Chief Compliance Officer | |
| Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2020); Deputy Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (2019–2020); Assistant Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (2016–2019); Vice President, State Street Global Advisors (2015–2016); Chief Compliance Officer of various trusts within the John Hancock Fund Complex (since 2016, including prior positions). |
The business address for all Trustees and Officers is 200 Berkeley Street, Boston, Massachusetts 02116-5023.
The Statement of Additional Information of the fund includes additional information about members of the Board of Trustees of the Trust and is available without charge, upon request, by calling 800-225-5291.
| 1 | Each Trustee holds office until his or her successor is elected and qualified, or until the Trustee’s death, retirement, resignation, or removal. Mr. Boyle has served as Trustee at various times prior to the date listed in the table. |
| 2 | Member of the Audit Committee. |
| 3 | The Trustee is a Non-Independent Trustee due to current or former positions with the Advisor and certain affiliates. |
| * | Elected to serve as Independent Trustee effective as of September 9, 2022. |
| † | Elected to serve as Non-Independent Trustee effective as of September 9, 2022. |
| 78 | JOHN HANCOCK STRATEGIC INCOME OPPORTUNITIES FUND | ANNUAL REPORT | |
Trustees
Hassell H. McClellan, Chairperson
Steven R. Pruchansky, Vice Chairperson
Andrew G. Arnott†
James R. Boyle
Peter S. Burgess*
William H. Cunningham*
Grace K. Fey
Noni L. Ellison^
Dean C. Garfield^
Marianne Harrison†
Deborah C. Jackson
Patricia Lizarraga*,^
Paul Lorentz‡
Frances G. Rathke*
Gregory A. Russo
Officers
Andrew G. Arnott
President
Charles A. Rizzo
Chief Financial Officer
Salvatore Schiavone
Treasurer
Christopher (Kit) Sechler
Secretary and Chief Legal Officer
Trevor Swanberg
Chief Compliance Officer
Investment advisor
John Hancock Investment Management LLC
Subadvisor
Manulife Investment Management (US) LLC
Portfolio Managers
Christopher M. Chapman, CFA
Thomas C. Goggins
Daniel S. Janis III1
Bradley L. Lutz, CFA
Kisoo Park
Principal distributor
John Hancock Investment Management Distributors LLC
Custodian
State Street Bank and Trust Company
Transfer agent
John Hancock Signature Services, Inc.
Legal counsel
K&L Gates LLP
Independent registered public accounting firm
PricewaterhouseCoopers LLP
† Non-Independent Trustee
* Member of the Audit Committee
^ Elected to serve as Independent Trustee effective as of September 9, 2022.
‡ Elected to serve as Non-Independent Trustee effective as of September 9, 2022.
1 Effective March 15, 2023, Daniel S. Janis III will be retiring as a portfolio manager.
The fund’s proxy voting policies and procedures, as well as the fund proxy voting record for the most recent twelve-month period ended June 30, are available free of charge on the Securities and Exchange Commission (SEC) website at sec.gov or on our website.
All of the fund’s holdings as of the end of the third month of every fiscal quarter are filed with the SEC on Form N-PORT within 60 days of the end of the fiscal quarter. The fund’s Form N-PORT filings are available on our website and the SEC’s website, sec.gov.
We make this information on your fund, as well as monthly portfolio holdings, and other fund details available on our website at jhinvestments.com or by calling 800-225-5291.
| You can also contact us: | | |
| 800-225-5291 | Regular mail: | Express mail: |
| jhinvestments.com | John Hancock Signature Services, Inc.
P.O. Box 219909
Kansas City, MO 64121-9909 | John Hancock Signature Services, Inc.
430 W 7th Street
Suite 219909
Kansas City, MO 64105-1407 |
| | ANNUAL REPORT | JOHN HANCOCK STRATEGIC INCOME OPPORTUNITIES FUND | 79 |
John Hancock family of funds
U.S. EQUITY FUNDS
Blue Chip Growth
Classic Value
Disciplined Value
Disciplined Value Mid Cap
Equity Income
Financial Industries
Fundamental All Cap Core
Fundamental Large Cap Core
Mid Cap Growth
New Opportunities
Regional Bank
Small Cap Core
Small Cap Growth
Small Cap Value
U.S. Global Leaders Growth
U.S. Growth
INTERNATIONAL EQUITY FUNDS
Disciplined Value International
Emerging Markets
Emerging Markets Equity
Fundamental Global Franchise
Global Environmental Opportunities
Global Equity
Global Shareholder Yield
Global Thematic Opportunities
International Dynamic Growth
International Growth
International Small Company
FIXED-INCOME FUNDS
Bond
California Municipal Bond
Emerging Markets Debt
Floating Rate Income
Government Income
High Yield
High Yield Municipal Bond
Income
Investment Grade Bond
Money Market
Municipal Opportunities
Opportunistic Fixed Income
Short Duration Bond
Short Duration Municipal Opportunities
Strategic Income Opportunities
ALTERNATIVE FUNDS
Absolute Return Currency
Alternative Asset Allocation
Diversified Macro
Infrastructure
Multi-Asset Absolute Return
Real Estate Securities
Seaport Long/Short
A fund’s investment objectives, risks, charges, and expenses should be considered carefully before investing. The prospectus contains this and other important information about the fund. To obtain a prospectus, contact your financial professional, call John Hancock Investment Management at 800-225-5291, or visit our website at jhinvestments.com. Please read the prospectus carefully before investing or sending money.
EXCHANGE-TRADED FUNDS
John Hancock Corporate Bond ETF
John Hancock Mortgage-Backed Securities ETF
John Hancock Multifactor Consumer Discretionary ETF
John Hancock Multifactor Consumer Staples ETF
John Hancock Multifactor Developed International ETF
John Hancock Multifactor Emerging Markets ETF
John Hancock Multifactor Energy ETF
John Hancock Multifactor Financials ETF
John Hancock Multifactor Healthcare ETF
John Hancock Multifactor Industrials ETF
John Hancock Multifactor Large Cap ETF
John Hancock Multifactor Materials ETF
John Hancock Multifactor Media and
Communications ETF
John Hancock Multifactor Mid Cap ETF
John Hancock Multifactor Small Cap ETF
John Hancock Multifactor Technology ETF
John Hancock Multifactor Utilities ETF
John Hancock Preferred Income ETF
John Hancock U.S. High Dividend ETF
ENVIRONMENTAL,SOCIAL, AND
GOVERNANCE FUNDS
ESG Core Bond
ESG International Equity
ESG Large Cap Core
ASSET ALLOCATION/TARGET DATE FUNDS
Balanced
Multi-Asset High Income
Multi-Index Lifetime Portfolios
Multi-Index Preservation Portfolios
Multimanager Lifestyle Portfolios
Multimanager Lifetime Portfolios
CLOSED-END FUNDS
Asset-Based Lending
Financial Opportunities
Hedged Equity & Income
Income Securities Trust
Investors Trust
Preferred Income
Preferred Income II
Preferred Income III
Premium Dividend
Tax-Advantaged Dividend Income
Tax-Advantaged Global Shareholder Yield
John Hancock ETF shares are bought and sold at market price (not NAV), and are not individually redeemed from the fund. Brokerage commissions will reduce returns.
John Hancock ETFs are distributed by Foreside Fund Services, LLC, and are subadvised by Manulife Investment Management (US) LLC or Dimensional Fund Advisors LP. Foreside is not affiliated with John Hancock Investment Management Distributors LLC, Manulife Investment Management (US) LLC or Dimensional Fund Advisors LP.
Dimensional Fund Advisors LP receives compensation from John Hancock in connection with licensing rights to the John Hancock Dimensional indexes. Dimensional Fund Advisors LP does not sponsor, endorse, or sell, and makes no representation as to the advisability of investing in, John Hancock Multifactor ETFs.
A trusted brand
John Hancock Investment Management is a premier asset manager
with a heritage of financial stewardship dating back to 1862. Helping
our shareholders pursue their financial goals is at the core of everything
we do. It’s why we support the role of professional financial advice
and operate with the highest standards of conduct and integrity.
A better way to invest
We serve investors globally through a unique multimanager approach:
We search the world to find proven portfolio teams with specialized
expertise for every strategy we offer, then we apply robust investment
oversight to ensure they continue to meet our uncompromising
standards and serve the best interests of our shareholders.
Results for investors
Our unique approach to asset management enables us to provide
a diverse set of investments backed by some of the world’s best
managers, along with strong risk-adjusted returns across asset classes.
“A trusted brand” is based on a survey of 6,651 respondents conducted by Medallia between 3/18/20 and 5/13/20.
John Hancock Investment Management Distributors LLC, Member FINRA, SIPC
200 Berkeley Street, Boston, MA 02116-5010, 800-225-5291, jhinvestments.com
Manulife Investment Management, the Stylized M Design, and Manulife Investment Management & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and are used by its affiliates under license.
NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.
This report is for the information of the shareholders of John Hancock Strategic Income Opportunities Fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by a prospectus.
10/2022
Annual report
John Hancock
Floating Rate Income Fund
Fixed income
August 31, 2022
A message to shareholders
Dear shareholder,
The bond market declined sharply for the 12 months ended August 31, 2022, as bond yields rose significantly. The catalyst was surging inflation; the 12-month U.S. inflation rate jumped to its highest level in more than 40 years, driven largely by rising food and energy prices. The U.S. Federal Reserve (Fed) responded with a number of short-term interest-rate increases. Bond market volatility also increased during the period, resulting primarily from Russia’s invasion of Ukraine in February and mixed global economic data.
While bond yields rose broadly for the period, short-term yields climbed the most in response to changing Fed policy. Sector performance was uniformly negative, with high-yield and investment-grade corporate bonds declining the most amid increased economic uncertainty stemming from the Fed’s rate hikes. Shorter-term sectors such as asset-backed securities and commercial mortgage-backed securities held up the best.
In these uncertain times, your financial professional can assist with positioning your portfolio so that it’s sufficiently diversified to help meet your long-term objectives and to withstand the inevitable bouts of market volatility along the way.
On behalf of everyone at John Hancock Investment Management, I’d like to take this opportunity to welcome new shareholders and thank existing shareholders for the continued trust you’ve placed in us.
Sincerely,
Andrew G. Arnott
Global Head of Retail,
Manulife Investment Management
President and CEO,
John Hancock Investment Management
Head of Wealth and Asset Management,
United States and Europe
This commentary reflects the CEO’s views as of this report’s period end and are subject to change at any time. Diversification does not guarantee investment returns and does not eliminate risk of loss. All investments entail risks, including the possible loss of principal. For more up-to-date information, you can visit our website at jhinvestments.com.
John Hancock
Floating Rate Income Fund
| | ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 1 |
INVESTMENT OBJECTIVE
The fund seeks a high level of current income.
AVERAGE ANNUAL TOTAL RETURNS AS OF 8/31/2022 (%)
The Morningstar LSTA U.S. Leveraged Loan Index, formerly known as S&P/LSTA Leveraged Loan Index, tracks the market-weighted performance of U.S. dollar-denominated institutional leveraged loan portfolios.
It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.
The fund’s Morningstar category average is a group of funds with similar investment objectives and strategies and is the equal-weighted return of all funds per category. Morningstar places funds in certain categories based on their historical portfolio holdings. Figures from Morningstar, Inc. include reinvested distributions and do not take into account sales charges. Actual load-adjusted performance is lower.
The past performance shown here reflects reinvested distributions and the beneficial effect of any expense reductions, and does not guarantee future results. Performance of the other share classes will vary based on the difference in the fees and expenses of those classes. Shares will fluctuate in value and, when redeemed, may be worth more or less than their original cost. Current month-end performance may be lower or higher than the performance cited, and can be found at jhinvestments.com or by calling 800-225-5291. For further information on the fund’s objectives, risks, and strategy, see the fund’s prospectus.
| 2 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT | |
PERFORMANCE HIGHLIGHTS OVER THE LAST TWELVE MONTHS
Leveraged loans have held up well
In the trailing 12-month period, leveraged loans have held up relatively well, returning 0.37%.
Bank loans outperformed
As investors sought safety amidst heightened volatility, bank loans performed better than many other loan types.
The fund underperformed its benchmark
The fund posted a negative return and was outperformed by the positive return of the Morningstar LSTA U.S. Leveraged Loan Index.
PORTFOLIO COMPOSITION AS OF 8/31/2022 (% of net assets)
| | ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 3 |
SECTOR COMPOSITION AS OF 8/31/2022 (% of net assets)
QUALITY COMPOSITION AS OF 8/31/2022 (% of net assets)
Ratings are from Moody’s Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. “Not rated” securities are those with no ratings available from these agencies. All ratings are as of 8-31-22 and do not reflect subsequent downgrades or upgrades, if any.
Notes about risk
The fund is subject to various risks as described in the fund’s prospectus. Political tensions and armed conflicts, including the Russian invasion of Ukraine, and any resulting economic sanctions on entities and/or individuals of a particular country could lead such a country into an economic recession. The COVID-19 disease has resulted in significant disruptions to global business activity. A widespread health crisis such as a global pandemic could cause substantial market volatility, exchange-trading suspensions, and closures, which may lead to less liquidity in certain instruments, industries, sectors, or the markets, generally, and may ultimately affect fund performance. For more information, please refer to the “Principal risks” section of the prospectus.
| 4 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT | |
Management’s discussion of fund performance
Can you discuss the performance of the bank loan market during the 12 months ended August 31, 2022?
The relative stability of the asset class can be partly attributed to its floating-rate nature and its senior position within the corporate capital structure. On the other hand, high-yield bonds and other duration-sensitive assets, have been negatively affected by increasing interest rates in 2022. A by-product of market uncertainty has been a relatively weak new issue market. Issuance volumes in leveraged loans and high-yield bonds in 2022 remain well below the record levels set in the prior year. On the demand side, collateral loan obligation (CLO) issuance has ebbed and flowed and has provided some level of support for the loan market.
How did the fund perform?
The fund posted a loss compared with the positive return of its benchmark. Its high-yield bond holdings and underweight in BB-rated loans detracted from performance due to increased interest-rate volatility in the first half of 2022.
What positions contributed to performance?
Bank loans outperformed over the period, as did the fund’s CCC portfolio, contributing to relative returns. Over the period, several idiosyncratic single names were top relative contributors, particularly from the healthcare, energy, and aerospace industries.
COUNTRY COMPOSITION
AS OF 8/31/2022 (% of net assets) |
| United States | 83.9 |
| Luxembourg | 3.9 |
| United Kingdom | 2.8 |
| France | 1.6 |
| Cayman Islands | 1.6 |
| Netherlands | 1.6 |
| Canada | 1.2 |
| Other countries | 3.4 |
| TOTAL | 100.0 |
| | ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 5 |
Based on your outlook for the bank loan market, how was the fund positioned at the end of the period?
We believe that a mild recession could happen. The market is largely anticipating this, as volatility remains elevated and spreads have widened meaningfully year to date. We believe that we’ll continue to see volatility and increased dispersion in the market, which may create attractive trading opportunities for active credit managers.
In times of market stress and increasing interest rates, we believe it’s important to highlight the benefits of owning bank loans. One potential benefit is the floating-rate nature of the asset class; rates are expected to continue to rise, which could lead to higher interest income for loan investors. Of course, higher rates can also create challenges for companies, which are the situations we’re seeking to avoid. Moreover, as loans are senior in the capital structure and secured, we think this should afford protection from losses should market stress increase from here.
The views expressed in this report are exclusively those of the portfolio management team at BCSF Advisors, LP (Bain Capital Credit), and are subject to change. They are not meant as investment advice. Please note that the holdings discussed in this report may not have been held by the fund for the entire period. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk.
| 6 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT | |
TOTAL RETURNS FOR THE PERIOD ENDED AUGUST 31, 2022
Average annual total returns (%)
with maximum sales charge | | Cumulative total returns (%)
with maximum sales charge | SEC 30-day
yield (%)
subsidized | SEC 30-day
yield (%)
unsubsidized† |
| | | 1-year | 5-year | 10-year | 5-year | 10-year | as of
8-31-22 | as of
8-31-22 |
| Class A | | -4.47 | 2.11 | 2.44 | 11.00 | 27.25 | 5.78 | 5.63 |
| Class C | | -3.69 | 1.85 | 1.96 | 9.60 | 21.37 | 5.17 | 5.02 |
| Class I1 | | -1.83 | 2.85 | 2.99 | 15.07 | 34.20 | 6.16 | 6.03 |
| Class R61 | | -1.71 | 2.98 | 3.08 | 15.83 | 35.43 | 6.28 | 6.15 |
| Class 11 | | -1.76 | 2.94 | 3.06 | 15.62 | 35.14 | 6.23 | 6.10 |
| Class NAV1 | | -1.72 | 2.99 | 3.11 | 15.87 | 35.80 | 6.28 | 6.16 |
| Index†† | | 0.37 | 3.53 | 3.89 | 18.96 | 46.42 | — | — |
Performance figures assume all distributions are reinvested. Figures reflect maximum sales charges on Class A shares of 2.5%, and the applicable contingent deferred sales charge (CDSC) on Class C shares. The returns for Class A shares have been adjusted to reflect the reduction in the maximum sales charge from 3.0% to 2.5%, effective 2-3-14. Class C shares held for less than one year are subject to a 1% CDSC. Sales charges are not applicable to Class I, Class R6, Class 1, and Class NAV shares.
The expense ratios of the fund, both net (including any fee waivers and/or expense limitations) and gross (excluding any fee waivers and/or expense limitations), are set forth according to the most recent publicly available prospectuses for the fund and may differ from those disclosed in the Financial highlights tables in this report. Net expenses reflect contractual fee waivers and expense limitations in effect until December 31, 2022 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
| | Class A | Class C | Class I | Class R6 | Class 1 | Class NAV |
| Gross (%) | 1.14 | 1.89 | 0.89 | 0.79 | 0.83 | 0.78 |
| Net (%) | 1.02 | 1.77 | 0.79 | 0.68 | 0.72 | 0.68 |
Please refer to the most recent prospectus and annual or semiannual report for more information on expenses and any expense limitation arrangements for each class.
The returns reflect past results and should not be considered indicative of future performance. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund’s current performance may be higher or lower than the performance shown. For current to the most recent month-end performance data, please call 800–225–5291 or visit the fund’s website at jhinvestments.com.
The performance table above and the chart on the next page do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The fund’s performance results reflect any applicable fee waivers or expense reductions, without which the expenses would increase and results would have been less favorable.
† Unsubsidized yield reflects what the yield would have been without the effect of reimbursements and waivers.
†† Index is the Morningstar LSTA U.S. Leveraged Loan Index.
See the following page for footnotes.
| | ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 7 |
This chart and table show what happened to a hypothetical $10,000 investment in John Hancock Floating Rate Income Fund for the share classes and periods indicated, assuming all distributions were reinvested. For comparison, we’ve shown the same investment in the Morningstar LSTA U.S. Leveraged Loan Index.
| | Start date | With maximum
sales charge ($) | Without
sales charge ($) | Index ($) |
| Class C2 | 8-31-12 | 12,137 | 12,137 | 14,642 |
| Class I1 | 8-31-12 | 13,420 | 13,420 | 14,642 |
| Class R61 | 8-31-12 | 13,543 | 13,543 | 14,642 |
| Class 11 | 8-31-12 | 13,514 | 13,514 | 14,642 |
| Class NAV1 | 8-31-12 | 13,580 | 13,580 | 14,642 |
The values shown in the chart for “Class A shares with maximum sales charge” have been adjusted to reflect the reduction in the Class A maximum sales charge from 3.0% to 2.5%, which became effective on 2-3-14.
The Morningstar LSTA U.S. Leveraged Loan Index, formerly known as S&P/LSTA Leveraged Loan Index, tracks the market-weighted performance of U.S. dollar-denominated institutional leveraged loan portfolios.
It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.
Footnotes related to performance pages
| 1 | For certain types of investors, as described in the fund’s prospectuses. |
| 2 | The contingent deferred sales charge is not applicable. |
| 8 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT | |
These examples are intended to help you understand your ongoing operating expenses of investing in the fund so you can compare these costs with the ongoing costs of investing in other mutual funds.
Understanding fund expenses
As a shareholder of the fund, you incur two types of costs:
■Transaction costs, which include sales charges (loads) on purchases or redemptions (varies by share class), minimum account fee charge, etc.
■Ongoing operating expenses, including management fees, distribution and service fees (if applicable), and other fund expenses.
We are presenting only your ongoing operating expenses here.
Actual expenses/actual returns
The first line of each share class in the table on the following page is intended to provide information about the fund’s actual ongoing operating expenses, and is based on the fund’s actual return. It assumes an account value of $1,000.00 on March 1, 2022, with the same investment held until August 31, 2022.
Together with the value of your account, you may use this information to estimate the operating expenses that you paid over the period. Simply divide your account value at August 31, 2022, by $1,000.00, then multiply it by the “expenses paid” for your share class from the table. For example, for an account value of $8,600.00, the operating expenses should be calculated as follows:
Hypothetical example for comparison purposes
The second line of each share class in the table on the following page allows you to compare the fund’s ongoing operating expenses with those of any other fund. It provides an example of the fund’s hypothetical account values and hypothetical expenses based on each class’s actual expense ratio and an assumed 5% annualized return before expenses (which is not the class’s actual return). It assumes an account value of $1,000.00 on March 1, 2022, with the same investment held until August 31, 2022. Look in any other fund shareholder report to find its hypothetical example and you will be able to compare these expenses. Please remember that these hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period.
| | ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 9 |
Remember, these examples do not include any transaction costs, therefore, these examples will not help you to determine the relative total costs of owning different funds. If transaction costs were included, your expenses would have been higher. See the prospectuses for details regarding transaction costs.
SHAREHOLDER EXPENSE EXAMPLE CHART
| | | Account
value on
3-1-2022 | Ending
value on
8-31-2022 | Expenses
paid during
period ended
8-31-20221 | Annualized
expense
ratio |
| Class A | Actual expenses/actual returns | $1,000.00 | $975.80 | $5.03 | 1.01% |
| | Hypothetical example | 1,000.00 | 1,020.10 | 5.14 | 1.01% |
| Class C | Actual expenses/actual returns | 1,000.00 | 972.30 | 8.75 | 1.76% |
| | Hypothetical example | 1,000.00 | 1,016.30 | 8.94 | 1.76% |
| Class I | Actual expenses/actual returns | 1,000.00 | 976.90 | 3.89 | 0.78% |
| | Hypothetical example | 1,000.00 | 1,021.30 | 3.97 | 0.78% |
| Class R6 | Actual expenses/actual returns | 1,000.00 | 977.50 | 3.34 | 0.67% |
| | Hypothetical example | 1,000.00 | 1,021.80 | 3.41 | 0.67% |
| Class 1 | Actual expenses/actual returns | 1,000.00 | 977.20 | 3.54 | 0.71% |
| | Hypothetical example | 1,000.00 | 1,021.60 | 3.62 | 0.71% |
| Class NAV | Actual expenses/actual returns | 1,000.00 | 977.50 | 3.34 | 0.67% |
| | Hypothetical example | 1,000.00 | 1,021.80 | 3.41 | 0.67% |
| 1 | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period). |
| 10 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT | |
AS OF 8-31-22
| | Rate (%) | Maturity date | | Par value^ | Value |
| Term loans (A) 88.9% | | | | | $1,681,242,345 |
| (Cost $1,777,171,886) | | | | | |
| Communication services 10.4% | 196,080,308 |
| Diversified telecommunication services 3.3% |
| Cablevision Lightpath LLC, Term Loan B (1 month LIBOR + 3.250%) | 5.641 | 11-30-27 | | 4,576,058 | 4,494,055 |
| Cincinnati Bell, Inc., 2021 Term Loan B2 (1 month SOFR + 3.250%) | 5.705 | 11-22-28 | | 4,096,378 | 4,005,070 |
| Connect Finco SARL, 2021 Term Loan B (1 month LIBOR + 3.500%) | 6.030 | 12-11-26 | | 3,478,199 | 3,369,505 |
| Cyxtera DC Holdings, Inc., Incremental Term Loan (3 month LIBOR + 4.000%) | 6.790 | 05-01-24 | | 1,111,155 | 1,068,098 |
| Cyxtera DC Holdings, Inc., Term Loan B (3 month LIBOR + 3.000%) | 5.790 | 05-01-24 | | 12,427,253 | 12,003,360 |
| Frontier Communications Holdings LLC, 2021 DIP Term Loan B (3 month LIBOR + 3.750%) | 6.063 | 05-01-28 | | 5,893,098 | 5,697,153 |
| Gridiron Fiber Corp., Term Loan (3 month LIBOR + 4.500%) | 6.750 | 10-04-28 | | 4,365,046 | 4,060,846 |
| Intelsat Jackson Holdings SA, 2017 Term Loan B5 | 8.625 | 01-02-24 | | 16,071 | 15,589 |
| Level 3 Financing, Inc., 2019 Term Loan B (1 month LIBOR + 1.750%) | 4.274 | 03-01-27 | | 2,710,847 | 2,584,494 |
| Metronet Systems Holdings LLC, 2021 1st Lien Term Loan (1 month SOFR + 3.865%) | 6.184 | 06-02-28 | | 4,351,096 | 4,203,159 |
| Venga Finance Sarl, 2021 USD Term Loan B (3 month LIBOR + 4.750%) | 7.027 | 12-04-28 | | 4,873,859 | 4,575,335 |
| Voyage Digital, USD Term Loan B (3 month SOFR + 4.500%) | 7.263 | 05-11-29 | | 5,751,261 | 5,607,480 |
| Zacapa SARL, 2022 Term Loan (3 month SOFR + 4.250%) | 6.304 | 03-22-29 | | 2,924,712 | 2,822,347 |
| Zayo Group Holdings, Inc., 2022 USD Incremental Term Loan B (1 month SOFR + 4.250%) | 6.705 | 03-09-27 | | 2,162,355 | 2,027,597 |
| Zayo Group Holdings, Inc., USD Term Loan (1 month LIBOR + 3.000%) | 5.524 | 03-09-27 | | 5,824,571 | 5,296,749 |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 11 |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Communication services (continued) | |
| Entertainment 0.6% |
| Octave Music Group, Inc., 2022 Term Loan (3 month SOFR + 5.250%) | 7.304 | 04-02-29 | | 1,838,631 | $1,785,770 |
| Playtika Holding Corp., 2021 Term Loan (1 month LIBOR + 2.750%) | 5.274 | 03-13-28 | | 4,529,492 | 4,424,770 |
| Technicolor Creative Studios SA, EUR Term Loan (B) | TBD | 07-27-29 | EUR | 2,662,366 | 2,488,257 |
| Technicolor SA, 2020 EUR Delayed Draw Term Loan B2 (6 month EURIBOR + 6.000% or 6.000% PIK) | 6.000 | 06-30-24 | EUR | 381,148 | 395,165 |
| Technicolor SA, 2020 EUR Super Senior Term Loan (3 month EURIBOR + 6.000% or 0.000% PIK) | 6.145 | 06-30-24 | EUR | 317,233 | 328,900 |
| Technicolor SA, 2020 EUR Term Loan B1 (6 month EURIBOR + 3.000% or 3.000% PIK) | 3.000 | 12-31-24 | EUR | 258,274 | 259,553 |
| Technicolor SA, 2020 USD Term Loan B2 (3 month LIBOR + 2.750% or 3.000% PIK) | 4.038 | 12-31-24 | | 1,859,174 | 1,859,174 |
| Technicolor USA, Inc., 2020 PIK USD New Money Term Loan (1 month LIBOR + 6.000% or 6.000% PIK) | 8.387 | 06-30-24 | | 96,252 | 96,252 |
| Interactive media and services 1.9% |
| Arches Buyer, Inc., 2021 Term Loan B (1 month LIBOR + 3.250%) | 5.774 | 12-06-27 | | 8,089,494 | 7,626,047 |
| Endurance International Group Holdings, Inc., Term Loan (1 month LIBOR + 3.500%) | 5.873 | 02-10-28 | | 3,162,961 | 2,959,361 |
| Knot Worldwide, Inc., 2022 Term Loan (1 month SOFR + 4.500%) | 7.055 | 12-19-25 | | 10,361,102 | 10,238,116 |
| MH Sub I LLC, 2017 1st Lien Term Loan (1 month LIBOR + 3.750%) | 6.274 | 09-13-24 | | 7,700,741 | 7,499,443 |
| MH Sub I LLC, 2020 Incremental Term Loan (1 month LIBOR + 3.750%) | 6.274 | 09-13-24 | | 4,743,747 | 4,621,216 |
| ZoomInfo LLC, 2021 Term Loan B (1 month LIBOR + 3.000%) | 5.524 | 02-02-26 | | 3,197,016 | 3,167,060 |
| Media 4.4% |
| CMI Marketing, Inc., 2021 First Lien Term Loan B (1 month LIBOR + 4.250%) | 6.743 | 03-23-28 | | 4,552,307 | 4,210,884 |
| Digital Media Solutions LLC, Term Loan B (3 month LIBOR + 4.750%) | 7.250 | 05-25-26 | | 2,518,191 | 2,184,531 |
| 12 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Communication services (continued) | |
| Media (continued) |
| Hunter US Bidco, Inc., USD Term Loan B (3 month LIBOR + 4.250%) | 6.500 | 08-19-28 | | 5,171,334 | $5,054,979 |
| Lorca Finco PLC, EUR Term Loan B1 (6 month EURIBOR + 4.250%) | 4.499 | 09-17-27 | EUR | 5,502,167 | 5,356,003 |
| Magnite, Inc., Term Loan (1 and 6 month LIBOR + 5.000%) | 6.197 | 04-28-28 | | 999,119 | 959,154 |
| National CineMedia LLC, 2018 Term Loan B (1 month LIBOR + 4.000%) | 6.563 | 06-20-25 | | 378,372 | 314,726 |
| National CineMedia LLC , 2021 Incremental Term Loan (1 month LIBOR + 8.000%) | 10.563 | 12-20-24 | | 157,117 | 137,084 |
| National CineMedia LLC , 2022 Revolver (1 month SOFR + 8.115%) | 10.426 | 06-20-23 | | 1,579,857 | 1,421,871 |
| Oceankey US II Corp., 2021 Term Loan (1 month LIBOR + 3.500%) | 6.024 | 12-15-28 | | 5,496,086 | 5,314,055 |
| Radiate Holdco LLC, 2021 Term Loan B (1 month LIBOR + 3.250%) | 5.774 | 09-25-26 | | 4,517,235 | 4,302,124 |
| Recorded Books, Inc., 2021 Term Loan (1 month SOFR + 4.000%) | 6.003 | 08-29-25 | | 9,291,207 | 9,136,323 |
| Research Now Group LLC, 2017 1st Lien Term Loan (6 month LIBOR + 5.500%) | 8.841 | 12-20-24 | | 13,186,432 | 12,178,198 |
| Research Now Group LLC , 2017 2nd Lien Term Loan (6 month LIBOR + 9.500%) | 12.841 | 12-20-25 | | 629,484 | 557,616 |
| Telenet Financing USD LLC, 2020 USD Term Loan AR (1 month LIBOR + 2.000%) | 4.391 | 04-30-28 | | 6,882,883 | 6,650,586 |
| Titan US Finco LLC, 2021 USD Term Loan (3 month LIBOR + 4.000%) | 6.250 | 10-18-28 | | 3,562,708 | 3,366,759 |
| United Talent Agency LLC, Term Loan B (3 month LIBOR + 4.000%) | 6.196 | 07-07-28 | | 5,029,829 | 4,878,934 |
| UPC Broadband Holding BV, 2020 EUR Term Loan AU (6 month EURIBOR + 2.500%) | 2.863 | 04-30-29 | EUR | 663,626 | 631,805 |
| UPC Financing Partnership, 2020 USD Term Loan AT (1 month LIBOR + 2.250%) | 4.641 | 04-30-28 | | 1,153,790 | 1,119,176 |
| UPC Financing Partnership, 2021 USD Term Loan AX (1 month LIBOR + 3.000%) | 5.391 | 01-31-29 | | 2,104,677 | 2,044,168 |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 13 |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Communication services (continued) | |
| Media (continued) |
| Virgin Media Bristol LLC, 2020 USD Term Loan Q (1 month LIBOR + 3.250%) | 5.641 | 01-31-29 | | 8,046,999 | $7,936,352 |
| Virgin Media Ireland, Ltd., EUR Term Loan (6 month EURIBOR + 3.500%) | 3.863 | 07-15-29 | EUR | 2,249,204 | 2,160,138 |
| WideOpenWest Finance LLC, 2021 Term Loan B (1 month SOFR + 3.000%) | 5.300 | 12-20-28 | | 2,519,948 | 2,466,853 |
| Wireless telecommunication services 0.2% |
| Crown Subsea Communications Holding, Inc., 2021 Term Loan (1 month LIBOR + 4.750%) | 7.123 | 04-27-27 | | 2,845,046 | 2,769,169 |
| Eagle Broadband Investments LLC, Term Loan (3 month LIBOR + 3.000%) | 5.313 | 11-12-27 | | 1,382,309 | 1,348,899 |
| Consumer discretionary 14.8% | 280,219,548 |
| Auto components 0.2% |
| IXS Holdings, Inc., 2020 Term Loan B (3 month LIBOR + 4.250%) | 7.816 | 03-05-27 | | 3,973,227 | 2,872,643 |
| Automobiles 0.9% |
| Constellation Automotive, Ltd., GBP 2nd Lien Term Loan B (SONIA + 7.500%) | 9.191 | 07-30-29 | GBP | 842,559 | 853,192 |
| Drive Chassis Holdco LLC, 2019 2nd Lien Term Loan (1 month LIBOR + 6.750%) | 9.178 | 04-10-26 | | 5,167,447 | 5,148,069 |
| OEConnection LLC, 2019 Term Loan B (1 month LIBOR + 4.000%) | 6.470 | 09-25-26 | | 4,713,606 | 4,503,520 |
| RVR Dealership Holdings LLC, Term Loan B (1 month SOFR + 3.750%) | 6.147 | 02-08-28 | | 4,814,951 | 4,465,867 |
| Thor Industries, Inc., 2021 USD Term Loan (1 month LIBOR + 3.000%) | 5.500 | 02-01-26 | | 378,137 | 374,356 |
| Wheel Pros, Inc., 2021 Term Loan (1 month LIBOR + 4.500%) | 6.868 | 05-11-28 | | 2,950,182 | 2,460,776 |
| Distributors 0.2% |
| Northwest Fiber LLC, 2021 Term Loan (1 month LIBOR + 3.750%) | 6.127 | 04-30-27 | | 4,307,296 | 4,052,433 |
| Diversified consumer services 1.5% |
| Foundational Education Group, Inc., 1st Lien Term Loan (3 month SOFR + 3.750%) | 6.066 | 08-31-28 | | 3,956,508 | 3,808,139 |
| 14 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Consumer discretionary (continued) | |
| Diversified consumer services (continued) |
| Midas Intermediate Holdco II LLC, 2020 Term Loan B (3 month LIBOR + 6.750%) | 7.500 | 06-30-27 | | 9,073,218 | $8,300,089 |
| PCI Gaming Authority, Term Loan (1 month LIBOR + 2.500%) | 5.024 | 05-29-26 | | 2,894,228 | 2,827,487 |
| Safe Fleet Holdings LLC, 2022 Term Loan (1 month SOFR + 3.850%) | 6.150 | 02-23-29 | | 4,228,237 | 4,121,221 |
| Verisure Holding AB, 2020 EUR Term Loan B (6 month EURIBOR + 3.250%) | 3.753 | 07-20-26 | EUR | 1,706,977 | 1,632,572 |
| Verisure Holding AB, 2021 EUR Term Loan (6 month EURIBOR + 3.250%) | 3.473 | 03-27-28 | EUR | 1,819,895 | 1,724,694 |
| Whatabrands LLC, 2021 Term Loan B (1 month LIBOR + 3.250%) | 5.774 | 08-03-28 | | 5,931,000 | 5,614,047 |
| Hotels, restaurants and leisure 5.8% |
| Aimbridge Acquisition Company, Inc., 2019 Term Loan B (1 month LIBOR + 3.750%) | 6.274 | 02-02-26 | | 12,713,112 | 11,696,063 |
| Aimbridge Acquisition Company, Inc., 2020 Incremental Term Loan B (1 month LIBOR + 4.750%) | 7.127 | 02-02-26 | | 113,116 | 105,198 |
| Awaze, Ltd., 2018 EUR Term Loan B (3 and 6 month EURIBOR + 4.000%) | 4.035 | 05-09-25 | EUR | 4,000,000 | 3,905,921 |
| Awaze, Ltd., EUR Incremental Term Loan B1 (6 month EURIBOR + 4.000%) | 4.000 | 05-09-25 | EUR | 698,925 | 682,486 |
| Bally’s Corp., 2021 Term Loan B (1 month LIBOR + 3.250%) | 5.623 | 10-02-28 | | 3,750,385 | 3,568,491 |
| Caesars Resort Collection LLC, 2017 1st Lien Term Loan B (1 month LIBOR + 2.750%) | 5.274 | 12-23-24 | | 3,530,060 | 3,480,321 |
| Caesars Resort Collection LLC, 2020 Term Loan B1 (1 month LIBOR + 3.500%) | 6.024 | 07-21-25 | | 933,456 | 924,588 |
| Carrols Restaurant Group, Inc., Term Loan B (1 month LIBOR + 3.250%) | 5.710 | 04-30-26 | | 2,371,266 | 2,063,002 |
| Compass III, Ltd., EUR Term Loan B2 (3 month EURIBOR + 4.000%) | 4.063 | 05-09-25 | EUR | 1,518,650 | 1,482,932 |
| Global Business Travel Holdings, Ltd., 2018 Term Loan B (1 month LIBOR + 2.500%) | 5.024 | 08-13-25 | | 4,806,250 | 4,475,820 |
| Great Canadian Gaming Corp., 2021 Term Loan (3 month LIBOR + 4.000%) | 6.096 | 11-01-26 | | 5,195,371 | 5,083,671 |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 15 |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Consumer discretionary (continued) | |
| Hotels, restaurants and leisure (continued) |
| HNVR Holdco, Ltd., EUR Term Loan B (6 month EURIBOR + 4.250%) | 4.284 | 09-12-25 | EUR | 2,720,997 | $2,366,873 |
| HNVR Holdco, Ltd., EUR Term Loan C (6 month EURIBOR + 4.500%) | 4.534 | 09-12-27 | EUR | 2,352,406 | 2,036,039 |
| Hurtigruten Group AS, 2020 EUR Term Loan C (6 month EURIBOR + 8.000%) | 8.273 | 06-11-23 | EUR | 7,451,375 | 6,895,417 |
| Hurtigruten Group AS, EUR Term Loan B (6 month EURIBOR + 4.000%) | 4.908 | 02-24-25 | EUR | 2,124,041 | 1,788,032 |
| IRB Holding Corp., 2020 Term Loan B (1 month LIBOR + 2.750%) | 5.274 | 02-05-25 | | 7,577,466 | 7,410,156 |
| IRB Holding Corp., 2022 Term Loan B (1 month SOFR + 3.150%) | 5.437 | 12-15-27 | | 2,889,589 | 2,791,458 |
| Lakeland Holdings LLC, 2020 HoldCo Term Loan (0.000% Cash or 13.250% PIK) | 0.000 | 09-25-27 | | 462,668 | 296,880 |
| Lakeland Tours LLC, 2020 Third Out Term Loan (3 month LIBOR + 1.500% or 6.000% PIK) | 4.306 | 09-25-25 | | 412,854 | 341,294 |
| New Red Finance, Inc., Term Loan B4 (1 month LIBOR + 1.750%) | 4.274 | 11-19-26 | | 3,260,291 | 3,161,798 |
| Penn Entertainment, Inc., 2022 Term Loan B (1 month SOFR + 2.750%) | 5.305 | 05-03-29 | | 1,928,822 | 1,888,567 |
| Playa Resorts Holding BV, 2017 Term Loan B (1 month LIBOR + 2.750%) | 5.270 | 04-29-24 | | 17,520,163 | 17,135,420 |
| Scientific Games International, Inc., 2022 USD Term Loan (1 month SOFR + 3.000%) | 5.407 | 04-14-29 | | 3,506,360 | 3,444,999 |
| Stars Group Holdings BV, 2018 EUR Incremental Term Loan (3 month EURIBOR + 2.500%) | 2.500 | 07-21-26 | EUR | 1,620,943 | 1,571,953 |
| Travel Leaders Group LLC, 2018 Term Loan B (1 month LIBOR + 4.000%) | 6.524 | 01-25-24 | | 16,917,049 | 15,690,563 |
| Vue International Bidco PLC, 2019 EUR Term Loan B (6 month EURIBOR + 4.750%) | 4.750 | 07-03-26 | EUR | 6,389,732 | 4,801,960 |
| Household durables 0.5% |
| ACProducts Holdings, Inc., 2021 Term Loan B (3 and 6 month LIBOR + 4.250%) | 6.970 | 05-17-28 | | 3,164,055 | 2,583,451 |
| Keter Group BV, EUR Term Loan B (3 month EURIBOR + 4.250%) | 5.250 | 10-31-23 | EUR | 4,063,197 | 3,601,318 |
| 16 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Consumer discretionary (continued) | |
| Household durables (continued) |
| Keter Group BV, EUR Term Loan B3A (3 month EURIBOR + 4.250%) | 5.250 | 10-31-23 | EUR | 94,996 | $84,198 |
| Sharp Midco LLC, 2021 Term Loan B (3 month LIBOR + 4.000%) | 6.250 | 12-31-28 | | 4,294,838 | 4,155,256 |
| Leisure products 1.9% |
| 19th Holdings Golf LLC, 2022 Term Loan B (1 month SOFR + 3.250%) | 5.637 | 02-07-29 | | 849,114 | 789,676 |
| Abe Investment Holdings, Inc., 2019 EUR Term Loan B (3 month EURIBOR + 5.000%) | 5.563 | 02-19-26 | EUR | 1,854,055 | 1,835,285 |
| Abe Investment Holdings, Inc., 2019 USD Term Loan B (1 and 3 month LIBOR + 4.500%) | 7.623 | 02-19-26 | | 4,979,894 | 4,924,916 |
| ABG Intermediate Holdings 2 LLC, 2021 Delayed Draw Term Loan B (B) | TBD | 12-08-28 | | 5,924,208 | 5,776,103 |
| ABG Intermediate Holdings 2 LLC, 2021 Delayed Draw Term Loan B3 (B) | TBD | 12-08-28 | | 434,315 | 423,457 |
| ABG Intermediate Holdings 2 LLC, 2021 Term Loan B (1 month LIBOR + 3.250%) | 5.774 | 09-27-24 | | 4,212,101 | 4,156,291 |
| ABG Intermediate Holdings 2 LLC, 2021 Term Loan B1 (1 month SOFR + 3.600%) | 6.055 | 12-21-28 | | 6,837,632 | 6,666,691 |
| Hayward Industries, Inc., 2021 Term Loan (1 month LIBOR + 2.500%) | 5.024 | 05-30-28 | | 931,979 | 899,826 |
| J&J Ventures Gaming LLC, Term Loan (3 month LIBOR + 4.000%) | 6.250 | 04-26-28 | | 3,020,890 | 2,877,397 |
| PlayPower, Inc., 2019 Term Loan (3 month LIBOR + 5.500%) | 7.750 | 05-08-26 | | 3,510,840 | 3,133,425 |
| Recess Holdings, Inc., 2017 1st Lien Term Loan (3 and 6 month LIBOR + 3.750%) | 5.280 | 09-30-24 | | 3,811,761 | 3,710,101 |
| Specialty retail 3.3% |
| Ascena Retail Group, Inc., 2015 Term Loan B (C) | 0.000 | 08-21-22 | | 16,333 | 34 |
| CWGS Group LLC, 2021 Term Loan B (1 month LIBOR + 2.500%) | 4.899 | 06-03-28 | | 5,396,072 | 5,035,237 |
| Eyemart Express LLC, 2021 Term Loan (3 month LIBOR + 3.000%) | 5.125 | 08-31-27 | | 6,274,964 | 6,008,278 |
| Harbor Freight Tools USA, Inc., 2021 Term Loan B (1 month LIBOR + 2.750%) | 5.274 | 10-19-27 | | 4,044,945 | 3,855,763 |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 17 |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Consumer discretionary (continued) | |
| Specialty retail (continued) |
| Mattress Firm, Inc., 2021 Term Loan B (3 month LIBOR + 4.250%) | 5.640 | 09-25-28 | | 1,386,716 | $1,187,722 |
| Mavis Tire Express Services Topco Corp., 2021 Term Loan B (1 month SOFR + 4.000%) | 6.375 | 05-04-28 | | 7,524,797 | 7,323,735 |
| Patagonia Bidco, Ltd., 2021 GBP Term Loan B (SONIA + 5.250%) | 6.940 | 03-05-29 | GBP | 2,020,634 | 2,045,147 |
| Patagonia Bidco, Ltd., 2021 GBP Term Loan B2 (SONIA + 5.250%) | 6.940 | 03-05-29 | GBP | 367,388 | 371,845 |
| Petco Health & Wellness Company, Inc., 2021 Term Loan B (3 month LIBOR + 3.250%) | 5.500 | 03-03-28 | | 8,030,175 | 7,774,253 |
| Runner Buyer, Inc., 2021 Term Loan B (3 month LIBOR + 5.500%) | 8.570 | 10-20-28 | | 4,035,382 | 2,898,736 |
| Specialty Building Products Holdings LLC, 2021 Term Loan B (1 month LIBOR + 3.750%) | 6.118 | 10-15-28 | | 5,961,087 | 5,661,364 |
| SRS Distribution, Inc., 2021 Incremental Term Loan (B) | TBD | 06-02-28 | | 631,317 | 606,064 |
| SRS Distribution, Inc., 2021 Term Loan B (3 month LIBOR + 3.500%) | 6.306 | 06-02-28 | | 7,605,591 | 7,339,396 |
| SRS Distribution, Inc., 2022 Incremental Term Loan (3 month SOFR + 3.500%) | 6.177 | 06-02-28 | | 628,160 | 603,034 |
| Staples, Inc., 7 Year Term Loan (3 month LIBOR + 5.000%) | 7.782 | 04-16-26 | | 4,303,433 | 3,780,092 |
| The Michaels Companies, Inc., 2021 Term Loan B (3 month LIBOR + 4.250%) | 6.500 | 04-15-28 | | 6,551,576 | 5,411,208 |
| Winterfell Financing Sarl, EUR Term Loan B (3 month EURIBOR + 2.925%) | 3.185 | 05-04-28 | EUR | 2,973,402 | 2,761,532 |
| Textiles, apparel and luxury goods 0.5% |
| Calceus Acquisition, Inc., Term Loan B (1 month LIBOR + 5.500%) | 8.024 | 02-12-25 | | 2,446,371 | 2,177,271 |
| New Trojan Parent, Inc., 1st Lien Term Loan (1 month LIBOR + 3.250%) | 5.663 | 01-06-28 | | 5,709,591 | 5,171,918 |
| Tory Burch LLC, Term Loan B (1 month LIBOR + 3.000%) | 5.524 | 04-16-28 | | 2,920,637 | 2,740,521 |
| Consumer staples 2.2% | 42,256,237 |
| Food and staples retailing 0.9% |
| 8th Avenue Food & Provisions, Inc., Term Loan (B) | TBD | 10-01-25 | | 3,710,000 | 3,255,525 |
| 18 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Consumer staples (continued) | |
| Food and staples retailing (continued) |
| H-Food Holdings LLC, 2018 Term Loan B (1 month LIBOR + 3.688%) | 6.211 | 05-23-25 | | 6,357,912 | $5,895,628 |
| L1R HB Finance, Ltd., GBP Term Loan B (SONIA + 5.250%) | 6.217 | 09-02-24 | GBP | 11,000,000 | 7,691,248 |
| Food products 0.5% |
| Biscuit Holding SASU, EUR Term Loan (6 month EURIBOR + 4.000%) | 4.000 | 02-15-27 | EUR | 3,987,283 | 2,995,248 |
| Upfield BV, 2018 EUR Term Loan B1 (6 month EURIBOR + 3.500%) | 3.738 | 07-02-25 | EUR | 1,986,347 | 1,737,136 |
| Upfield BV, 2018 GBP Term Loan B4 (6 month GBP LIBOR + 4.000%) | 5.228 | 07-02-25 | GBP | 3,000,000 | 2,944,911 |
| Upfield USA Corp., 2018 USD Term Loan B2 (6 month LIBOR + 3.000%) | 5.899 | 07-02-25 | | 2,044,675 | 1,791,647 |
| Household products 0.1% |
| Kronos Acquisition Holdings, Inc., 2021 Term Loan B (3 month LIBOR + 3.750%) | 6.820 | 12-22-26 | | 3,354,365 | 3,227,738 |
| Personal products 0.7% |
| Coty, Inc., 2018 USD Term Loan B (1 month LIBOR + 2.250%) | 4.623 | 04-07-25 | | 1,423,461 | 1,376,900 |
| Groupe Nocibe SASU, 2021 EUR Term Loan B4 (6 month EURIBOR + 5.500%) | 5.725 | 04-08-26 | EUR | 1,198,946 | 1,005,473 |
| Kirk Beauty Netherlands BV, 2021 EUR Term Loan B2 (6 month EURIBOR + 5.500%) | 5.725 | 04-08-26 | EUR | 363,343 | 304,711 |
| Kirk Beauty One GmbH, 2021 EUR Term Loan B1 (6 month EURIBOR + 5.500%) | 5.725 | 04-08-26 | EUR | 689,829 | 578,512 |
| Nocibe France SAS, 2021 EUR Term Loan B5 (3 month EURIBOR + 5.500%) | 5.725 | 04-08-26 | EUR | 271,291 | 227,513 |
| Parfuemerie Douglas International GmbH, 2021 EUR Term Loan B3 (6 month EURIBOR + 5.500%) | 5.725 | 04-08-26 | EUR | 393,336 | 329,864 |
| Rainbow UK Bidco, Ltd., GBP Term Loan B (6 month SONIA + 5.000%) | 6.691 | 02-24-29 | GBP | 4,489,878 | 4,746,464 |
| Sunshine Luxembourg VII Sarl, 2021 Term Loan B3 (3 month LIBOR + 3.750%) | 6.000 | 10-01-26 | | 4,312,096 | 4,147,719 |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 19 |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Energy 0.5% | $9,095,452 |
| Oil, gas and consumable fuels 0.5% |
| Delek US Holdings, Inc., 2018 Term Loan B (1 month LIBOR + 2.250%) | 4.774 | 03-31-25 | | 1,529,723 | 1,490,393 |
| M6 ETX Holdings II Midco LLC, Term Loan B (B) | TBD | 08-10-29 | | 1,630,755 | 1,605,283 |
| Northriver Midstream Finance LP, 2018 Term Loan B (3 month LIBOR + 3.250%) | 5.527 | 10-01-25 | | 2,849,696 | 2,806,950 |
| Oryx Midstream Services Permian Basin LLC, Term Loan B (3 month LIBOR + 3.250%) | 6.211 | 10-05-28 | | 3,253,836 | 3,192,826 |
| Quicksilver Resources, Inc., New 2nd Lien Term Loan (C)(D) | 0.000 | 06-21-22 | | 19,606,608 | 0 |
| Financials 6.9% | 131,689,383 |
| Capital markets 1.5% |
| Aretec Group, Inc., 2018 Term Loan (1 month SOFR + 4.250%) | 6.805 | 10-01-25 | | 3,095,847 | 3,022,321 |
| Chromalloy Holdings LLC, 2020 Extended Term Loan (3 month LIBOR + 6.750%) | 9.760 | 11-28-23 | | 1,351,554 | 1,339,161 |
| Hightower Holding LLC, 2021 Term Loan B (3 month LIBOR + 4.000%) | 6.732 | 04-21-28 | | 7,363,211 | 7,133,111 |
| Jane Street Group LLC, 2021 Term Loan (1 month LIBOR + 2.750%) | 5.274 | 01-26-28 | | 8,221,377 | 8,039,849 |
| Jump Financial LLC, Term Loan B (3 month SOFR + 4.500%) | 6.816 | 08-07-28 | | 9,535,147 | 9,201,417 |
| Consumer finance 0.1% |
| Tegra118 Wealth Solutions, Inc., 2020 Term Loan B (3 month LIBOR + 4.000%) | 6.961 | 02-18-27 | | 1,662,454 | 1,600,112 |
| Diversified financial services 2.9% |
| Advisor Group Holdings, Inc., 2021 Term Loan (1 month LIBOR + 4.500%) | 7.024 | 07-31-26 | | 4,735,470 | 4,609,696 |
| Ascensus Holdings, Inc., Term Loan (3 month LIBOR + 3.500%) | 5.813 | 08-02-28 | | 13,152,270 | 12,675,501 |
| Citadel Securities LP, 2021 Term Loan B (1 month SOFR + 2.500%) | 4.876 | 02-02-28 | | 3,975,792 | 3,883,872 |
| Citadel Securities LP, 2022 Incremental Term Loan B (B) | TBD | 02-02-28 | | 805,224 | 789,788 |
| CPC Acquisition Corp., Second Lien Term Loan (3 month LIBOR + 7.750%) | 10.000 | 12-29-28 | | 1,623,176 | 1,343,178 |
| 20 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Financials (continued) | |
| Diversified financial services (continued) |
| Cross Financial Corp., 2021 Term Loan B (1 month LIBOR + 4.000%) | 6.563 | 09-15-27 | | 3,225,736 | $3,161,221 |
| Crown Finance US, Inc., 2018 USD Term Loan (C) | 0.000 | 02-28-25 | | 5,596,993 | 3,583,027 |
| Crown Finance US, Inc., 2020 Term Loan B1 (C) | 0.000 | 05-23-24 | | 367,807 | 422,805 |
| Crown Finance US, Inc. , 2021 Incremental Term Loan B1 (6 month LIBOR + 8.250%) | 10.076 | 02-28-25 | | 386,814 | 409,539 |
| CTC Holdings LP, Term Loan B (3 month SOFR + 5.000%) | 8.356 | 02-20-29 | | 3,878,201 | 3,742,464 |
| DRW Holdings LLC, 2021 Term Loan (1 month LIBOR + 3.750%) | 6.274 | 03-01-28 | | 3,945,785 | 3,794,109 |
| Hudson River Trading LLC, 2021 Term Loan (1 month SOFR + 3.000%) | 6.164 | 03-20-28 | | 5,212,019 | 4,795,057 |
| Kestra Advisor Services Holdings A, Inc., 2019 Term Loan (3 month LIBOR + 4.250%) | 6.510 | 06-03-26 | | 4,148,513 | 3,992,944 |
| Marnix SAS, 2021 USD Term Loan (3 month SOFR + 3.750%) | 5.290 | 08-04-28 | | 2,403,031 | 2,318,925 |
| Nexus Buyer LLC, Term Loan B (1 month LIBOR + 3.750%) | 6.274 | 11-09-26 | | 5,467,465 | 5,301,145 |
| Insurance 1.5% |
| Acrisure LLC, 2020 Term Loan B (B) | TBD | 02-15-27 | | 1,017,594 | 972,861 |
| Acrisure LLC, 2021 First Lien Term Loan B (1 month LIBOR + 4.250%) | 6.774 | 02-15-27 | | 3,697,148 | 3,583,164 |
| Alliant Holdings Intermediate LLC, 2018 Term Loan B (1 month LIBOR + 3.250%) | 5.774 | 05-09-25 | | 8,813,835 | 8,629,274 |
| Alliant Holdings Intermediate LLC, 2021 Term Loan B4 (1 month LIBOR + 3.500%) | 5.877 | 11-06-27 | | 1,993,558 | 1,937,738 |
| Alliant Holdings Intermediate LLC, Term Loan B (1 month LIBOR + 3.250%) | 5.774 | 05-09-25 | | 1,003,805 | 981,641 |
| Asurion LLC, 2018 Term Loan B6 (1 month LIBOR + 3.125%) | 5.649 | 11-03-23 | | 1,982,486 | 1,847,023 |
| Asurion LLC, 2021 Term Loan B9 (1 month LIBOR + 3.250%) | 5.774 | 07-31-27 | | 582,440 | 531,960 |
| Asurion LLC, 2022 Term Loan B10 (3 month SOFR + 4.000%) | 6.301 | 08-19-28 | | 2,049,924 | 1,909,853 |
| Baldwin Risk Partners LLC, 2021 Term Loan B (1 month LIBOR + 3.500%) | 5.880 | 10-14-27 | | 6,486,607 | 6,316,333 |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 21 |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Financials (continued) | |
| Insurance (continued) |
| IMA Financial Group, Inc., Term Loan (1 month LIBOR + 3.750%) | 6.274 | 11-01-28 | | 2,182,617 | $2,110,329 |
| Mortgage real estate investment trusts 0.9% |
| Apollo Commercial Real Estate Finance, Inc., 2021 Incremental Term Loan B1 (1 month LIBOR + 3.500%) | 5.944 | 03-11-28 | | 4,202,742 | 4,034,632 |
| Apollo Commercial Real Estate Finance, Inc., Term Loan B (1 month LIBOR + 2.750%) | 5.274 | 05-15-26 | | 521,034 | 500,192 |
| Claros Mortgage Trust, Inc., 2021 Term Loan B (1 month SOFR + 4.500%) | 6.893 | 08-09-26 | | 7,320,584 | 7,119,268 |
| KREF Holdings X LLC, 2021 Term Loan (1 month LIBOR + 3.500%) | 5.938 | 09-01-27 | | 4,568,345 | 4,454,136 |
| Starwood Property Mortgage LLC, 2021 Term Loan B2 (1 month LIBOR + 3.250%) | 5.774 | 07-26-26 | | 1,642,807 | 1,601,737 |
| Health care 12.2% | 230,536,812 |
| Biotechnology 0.2% |
| Grifols Worldwide Operations USA, Inc., USD 2019 Term Loan B (1 month LIBOR + 2.000%) | 4.524 | 11-15-27 | | 3,646,023 | 3,520,454 |
| Health care equipment and supplies 1.5% |
| Auris Luxembourg III Sarl, 2019 USD Term Loan B2 (6 month LIBOR + 3.750%) | 5.576 | 02-27-26 | | 8,604,165 | 8,044,894 |
| Bayou Intermediate II LLC, Term Loan B (3 month LIBOR + 4.500%) | 7.302 | 08-02-28 | | 1,692,048 | 1,641,286 |
| Embecta Corp., Term Loan B (B) | TBD | 03-30-29 | | 1,139,426 | 1,111,886 |
| Gloves Buyer, Inc., 2021 Term Loan (1 month LIBOR + 4.000%) | 6.524 | 12-29-27 | | 2,500,991 | 2,354,058 |
| Golden State Buyer, Inc., Term Loan (1 month LIBOR + 4.750%) | 7.274 | 06-21-26 | | 1,515,728 | 1,439,942 |
| ICU Medical, Inc., Term Loan B (2 month SOFR + 2.250%) | 4.604 | 01-08-29 | | 1,857,939 | 1,813,349 |
| Medline Borrower LP, USD Term Loan B (1 month LIBOR + 3.250%) | 5.774 | 10-23-28 | | 9,391,552 | 8,943,763 |
| TecoStar Holdings, Inc., 2017 Repriced Term Loan (3 month LIBOR + 3.500%) | 5.793 | 05-01-24 | | 4,183,165 | 3,827,596 |
| 22 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Health care (continued) | |
| Health care providers and services 5.8% |
| AHP Health Partners, Inc., 2021 Term Loan B (1 month LIBOR + 3.500%) | 6.024 | 08-24-28 | | 3,027,468 | $2,907,308 |
| Confluent Health LLC, 2021 Delayed Draw Term Loan (1 month LIBOR + 4.000%) | 6.524 | 11-30-28 | | 226,724 | 217,655 |
| Confluent Health LLC, 2021 Term Loan B (1 month LIBOR + 4.000%) | 6.524 | 11-30-28 | | 4,780,131 | 4,588,926 |
| Confluent Medical Technologies, Inc., Term Loan (2 month SOFR + 3.750%) | 5.804 | 02-09-29 | | 2,015,534 | 1,914,757 |
| Dermatology Intermediate Holdings III, Inc., 2022 Delayed Draw Term Loan (1 month SOFR + 4.250%) | 6.537 | 04-02-29 | | 47,656 | 46,465 |
| Dermatology Intermediate Holdings III, Inc., 2022 Term Loan B (1 month SOFR + 4.250%) | 6.537 | 04-02-29 | | 1,613,683 | 1,573,341 |
| ENC Parent Corp., 2021 Term Loan (Prime rate + 3.250% and 3 month LIBOR + 4.250%) | 6.506 | 08-04-28 | | 2,656,702 | 2,517,225 |
| Ensemble RCM LLC, Term Loan (3 month LIBOR + 3.750%) | 6.556 | 08-03-26 | | 4,790,376 | 4,671,622 |
| eResearchTechnology, Inc., 2020 1st Lien Term Loan (1 month LIBOR + 4.500%) | 7.024 | 02-04-27 | | 7,947,364 | 7,557,069 |
| Genesiscare USA Holdings, Inc., 2020 EUR Term Loan B4 (3 month EURIBOR + 4.750%) | 4.750 | 05-14-27 | EUR | 1,782,202 | 820,289 |
| Genesiscare USA Holdings, Inc., 2020 USD Term Loan B5 (3 month LIBOR + 5.000%) | 7.997 | 05-14-27 | | 3,429,570 | 1,714,785 |
| Mamba Purchaser, Inc., 2021 Term Loan (1 month LIBOR + 3.500%) | 5.868 | 10-16-28 | | 3,019,962 | 2,944,463 |
| MED ParentCo LP, 1st Lien Term Loan (1 month LIBOR + 4.250%) | 6.774 | 08-31-26 | | 9,035,250 | 7,990,595 |
| National Mentor Holdings, Inc., 2021 2nd Lien Term Loan (3 month LIBOR + 7.250%) | 9.510 | 03-02-29 | | 2,136,611 | 1,810,778 |
| National Mentor Holdings, Inc., 2021 Term Loan (1 and 3 month LIBOR + 3.750%) | 6.099 | 03-02-28 | | 8,554,967 | 7,228,947 |
| National Mentor Holdings, Inc., 2021 Term Loan C (3 month LIBOR + 3.750%) | 6.010 | 03-02-28 | | 243,180 | 205,487 |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 23 |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Health care (continued) | |
| Health care providers and services (continued) |
| Option Care Health, Inc., 2021 Term Loan B (1 month LIBOR + 2.750%) | 5.274 | 10-27-28 | | 4,954,978 | $4,896,163 |
| Pathway Vet Alliance LLC, 2021 Term Loan (3 month LIBOR + 3.750%) | 6.000 | 03-31-27 | | 4,588,229 | 4,319,818 |
| Pediatric Associates Holding Company LLC, 2021 Term Loan B (3 month LIBOR + 3.250%) | 5.076 | 12-29-28 | | 2,688,247 | 2,621,041 |
| Pediatric Associates Holding Company LLC, 2022 Delayed Draw Term Loan (1 and 6 month LIBOR + 3.250%) | 5.262 | 12-29-28 | | 203,655 | 198,564 |
| PetVet Care Centers LLC, 2018 1st Lien Term Loan (1 month LIBOR + 2.750%) | 5.274 | 02-14-25 | | 3,186,981 | 3,055,518 |
| PetVet Care Centers LLC, 2018 Incremental Term Loan (1 month LIBOR + 3.250%) | 5.774 | 02-14-25 | | 990,619 | 952,648 |
| PetVet Care Centers LLC, 2021 Term Loan B3 (1 month LIBOR + 3.500%) | 6.024 | 02-14-25 | | 6,860,703 | 6,632,036 |
| Phoenix Newco, Inc., 2021 1st Lien Term Loan (1 month LIBOR + 3.250%) | 5.774 | 11-15-28 | | 6,184,496 | 6,014,422 |
| Precision Medicine Group LLC, 2021 Delayed Draw Term Loan (2 and 3 month LIBOR + 3.000%) | 4.878 | 11-18-27 | | 231,894 | 222,618 |
| Precision Medicine Group LLC, 2021 Term Loan (3 month LIBOR + 3.000%) | 4.688 | 11-18-27 | | 3,871,381 | 3,716,526 |
| Radnet Management, Inc., 2021 Term Loan (3 month LIBOR + 3.000%) | 5.493 | 04-21-28 | | 4,552,169 | 4,413,692 |
| Select Medical Corp., 2017 Term Loan B (1 month LIBOR + 2.500%) | 5.030 | 03-06-25 | | 4,311,885 | 4,210,814 |
| Team Health Holdings, Inc., 2022 Term Loan B (1 month SOFR + 5.250%) | 7.705 | 03-02-27 | | 5,935,636 | 5,262,950 |
| Upstream Newco, Inc., 2021 Term Loan (1 month SOFR + 4.250%) | 6.820 | 11-20-26 | | 4,919,322 | 4,669,273 |
| US Radiology Specialists, Inc., 2020 Term Loan (3 month LIBOR + 5.250%) | 7.563 | 12-15-27 | | 7,218,892 | 6,888,050 |
| WCG Purchaser Corp., 2019 Term Loan (1 and 3 month LIBOR + 4.000%) | 6.353 | 01-08-27 | | 2,637,320 | 2,571,387 |
| 24 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Health care (continued) | |
| Health care technology 0.7% |
| CAB SELAS, 2021 EUR Term Loan B (3 month EURIBOR + 2.750%) | 3.027 | 02-09-28 | EUR | 3,855,312 | $3,611,248 |
| Change Healthcare Holdings LLC, 2017 Term Loan B (1 month LIBOR + 2.500%) | 5.024 | 03-01-24 | | 2,659,854 | 2,641,022 |
| GHX Ultimate Parent Corp., 2017 1st Lien Term Loan (6 month LIBOR + 3.250%) | 6.127 | 06-28-24 | | 4,495,293 | 4,427,863 |
| Imprivata, Inc., Term Loan (1 month LIBOR + 3.750%) | 6.274 | 12-01-27 | | 3,530,120 | 3,433,607 |
| Life sciences tools and services 0.6% |
| ICON Luxembourg Sarl, LUX Term Loan (3 month LIBOR + 2.250%) | 4.563 | 07-03-28 | | 2,612,377 | 2,568,620 |
| ICON Luxembourg Sarl, US Term Loan (3 month LIBOR + 2.250%) | 4.563 | 07-03-28 | | 650,875 | 639,973 |
| Maravai Intermediate Holdings LLC, 2022 Term Loan B (3 month SOFR + 3.000%) | 5.553 | 10-19-27 | | 2,794,428 | 2,750,779 |
| Packaging Coordinators Midco, Inc., 2020 1st Lien Term Loan (3 month LIBOR + 3.750%) | 6.000 | 11-30-27 | | 5,006,519 | 4,867,287 |
| Pharmaceuticals 3.4% |
| AI Sirona Luxembourg Acquisition Sarl, 2021 EUR Term Loan B1 (1 month EURIBOR + 3.250%) | 3.370 | 09-29-25 | EUR | 1,777,648 | 1,711,328 |
| Amneal Pharmaceuticals LLC, 2018 Term Loan B (1 and 3 month LIBOR + 3.500%) | 5.939 | 05-04-25 | | 12,223,267 | 11,668,087 |
| Bausch Health Companies, Inc., 2022 Term Loan B (1 month SOFR + 5.250%) | 7.662 | 02-01-27 | | 7,078,845 | 5,627,682 |
| Curium Bidco Sarl, 2020 USD Term Loan (3 month LIBOR + 4.000%) | 6.250 | 12-02-27 | | 4,147,793 | 4,023,359 |
| Curium Bidco Sarl, USD Term Loan B (3 month LIBOR + 4.000%) | 6.000 | 07-09-26 | | 4,222,608 | 4,127,599 |
| Discovery Purchaser Corp., Term Loan (B) | TBD | 08-04-29 | | 5,105,786 | 4,780,292 |
| Endo Luxembourg Finance Company I Sarl, 2021 Term Loan (C) | 0.000 | 03-27-28 | | 13,945,136 | 12,149,700 |
| Horizon Therapeutics USA, Inc., 2021 Term Loan B2 (1 month LIBOR + 1.750%) | 4.313 | 03-15-28 | | 1,546,201 | 1,504,778 |
| Jazz Financing Lux Sarl, USD Term Loan (1 month LIBOR + 3.500%) | 6.024 | 05-05-28 | | 2,877,795 | 2,819,203 |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 25 |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Health care (continued) | |
| Pharmaceuticals (continued) |
| LSCS Holdings, Inc., 2021 1st Lien Term Loan (3 month LIBOR + 4.500%) | 6.750 | 12-16-28 | | 5,216,092 | $5,007,448 |
| Organon & Company, USD Term Loan (3 month LIBOR + 3.000%) | 4.625 | 06-02-28 | | 4,580,642 | 4,523,384 |
| Padagis LLC, Term Loan B (3 month LIBOR + 4.750%) | 7.043 | 07-06-28 | | 3,280,852 | 3,001,979 |
| Perrigo Investments LLC, Term Loan B (1 month SOFR + 2.500%) | 4.907 | 04-20-29 | | 2,625,368 | 2,599,114 |
| Industrials 14.6% | 276,017,989 |
| Aerospace and defense 3.2% |
| AI Convoy Luxembourg Sarl, 2021 Term Loan B1 (3 month LIBOR + 3.500%) | 6.238 | 01-18-27 | | 2,820,457 | 2,759,506 |
| AI Convoy Luxembourg Sarl, USD Term Loan B (3 month LIBOR + 3.500%) | 4.544 | 01-18-27 | | 1,263,878 | 1,236,565 |
| Bleriot US Bidco, Inc., 2021 Term Loan B (3 month LIBOR + 4.000%) | 6.250 | 10-31-26 | | 2,118,390 | 2,079,200 |
| Cobham Ultra US Co-Borrower LLC, USD Term Loan B (6 month LIBOR + 3.750%) | 7.063 | 12-24-28 | | 5,486,974 | 5,291,528 |
| Jazz Acquisition, Inc., 2019 1st Lien Term Loan (1 month LIBOR + 4.250%) | 6.770 | 06-19-26 | | 5,525,935 | 5,311,805 |
| Maxar Technologies, Inc., 2022 Term Loan B (1 month SOFR + 4.350%) | 6.805 | 06-14-29 | | 4,776,055 | 4,577,849 |
| MB Aerospace Holdings II Corp., 2017 Term Loan (3 month LIBOR + 3.500%) | 5.750 | 01-22-25 | | 5,206,533 | 4,490,635 |
| Novaria Holdings LLC, 2022 Incremental Term Loan (1 month SOFR + 7.000%) | 9.455 | 01-27-27 | | 2,333,852 | 2,158,813 |
| Novaria Holdings LLC, Term Loan B (1 month SOFR + 5.500%) | 8.055 | 01-27-27 | | 647,772 | 599,189 |
| Spirit AeroSystems, Inc., 2021 Term Loan B (1 month LIBOR + 3.750%) | 6.274 | 01-15-25 | | 1,109,544 | 1,099,836 |
| Standard Aero, Ltd., 2020 CAD Term Loan B2 (1 month LIBOR + 3.500%) | 6.024 | 04-06-26 | | 3,828,808 | 3,684,271 |
| The NORDAM Group, Inc., Term Loan B (1 month LIBOR + 5.500%) | 8.063 | 04-09-26 | | 2,006,999 | 1,664,806 |
| 26 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Industrials (continued) | |
| Aerospace and defense (continued) |
| TransDigm, Inc., 2020 Term Loan E (1 month LIBOR + 2.250%) | 4.774 | 05-30-25 | | 931,245 | $908,057 |
| TransDigm, Inc., 2020 Term Loan F (1 month LIBOR + 2.250%) | 4.774 | 12-09-25 | | 502,026 | 488,285 |
| TransDigm, Inc., 2020 Term Loan G (1 month LIBOR + 2.250%) | 4.774 | 08-22-24 | | 5,136,900 | 5,035,909 |
| Vertex Aerospace Services Corp., 2021 First Lien Term Loan (1 month LIBOR + 3.750%) | 6.274 | 12-06-28 | | 2,587,719 | 2,549,990 |
| WP CPP Holdings LLC, 2018 Term Loan (1 and 3 month LIBOR + 3.750%) | 6.559 | 04-30-25 | | 18,119,985 | 15,930,537 |
| Air freight and logistics 0.5% |
| AIT Worldwide Logistics Holdings, Inc., 2021 Term Loan (3 month LIBOR + 4.750%) | 7.043 | 04-06-28 | | 2,512,870 | 2,368,380 |
| First Student Bidco, Inc., Term Loan B (3 month LIBOR + 3.000%) | 5.232 | 07-21-28 | | 3,022,673 | 2,901,766 |
| First Student Bidco, Inc., Term Loan C (3 month LIBOR + 3.000%) | 5.232 | 07-21-28 | | 1,121,359 | 1,076,504 |
| Worldwide Express, Inc., 2021 1st Lien Term Loan (3 month LIBOR + 4.000%) | 6.250 | 07-26-28 | | 3,326,881 | 3,167,823 |
| Airlines 0.1% |
| United Airlines, Inc., 2021 Term Loan B (1 month LIBOR + 3.750%) | 6.533 | 04-21-28 | | 2,513,920 | 2,439,911 |
| Building products 1.4% |
| Cornerstone Building Brands, Inc., 2021 Term Loan B (1 month LIBOR + 3.250%) | 5.641 | 04-12-28 | | 2,911,545 | 2,600,010 |
| CPG International LLC, Term Loan (B) | TBD | 05-05-24 | | 1,000,000 | 945,830 |
| East West Manufacturing LLC, Term Loan B (1 month SOFR + 5.750%) | 8.205 | 12-22-28 | | 1,958,268 | 1,845,668 |
| Icebox Holdco III, Inc., 2021 1st Lien Term Loan (3 month LIBOR + 3.750%) | 6.000 | 12-22-28 | | 5,287,446 | 5,056,120 |
| Lakeshore Intermediate LLC, Term Loan (1 month LIBOR + 3.500%) | 5.876 | 09-29-28 | | 4,348,777 | 4,191,133 |
| LSF11 Skyscraper Holdco Sarl, 2021 USD Term Loan B (3 month LIBOR + 3.500%) | 5.750 | 09-29-27 | | 1,305,210 | 1,270,139 |
| Resideo Funding, Inc., 2021 Term Loan (1, 2 and 3 month LIBOR + 2.250%) | 5.068 | 02-11-28 | | 1,464,591 | 1,445,376 |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 27 |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Industrials (continued) | |
| Building products (continued) |
| Wilsonart LLC, 2021 Term Loan E (3 month LIBOR + 3.250%) | 5.510 | 12-31-26 | | 9,734,581 | $9,275,206 |
| Commercial services and supplies 3.2% |
| AEA International Holdings Luxembourg Sarl, Term Loan B (3 month LIBOR + 3.750%) | 6.063 | 09-07-28 | | 1,456,185 | 1,419,781 |
| Anticimex Global AB, 2021 USD Incremental Term Loan (3 month LIBOR + 4.000%) | 7.070 | 11-16-28 | | 4,381,672 | 4,257,539 |
| AVSC Holding Corp., 2020 Term Loan B1 (3 month LIBOR + 3.250% or 0.250% PIK) | 5.111 | 03-03-25 | | 1,891 | 1,740 |
| AVSC Holding Corp., 2020 Term Loan B2 (3 month LIBOR + 4.500% or 1.000% PIK) | 6.111 | 10-15-26 | | 3,517,764 | 3,272,153 |
| AVSC Holding Corp., 2020 Term Loan B3 (3 month LIBOR + 5.000% or 10.000% PIK) | 5.000 | 10-15-26 | | 2,147,356 | 2,210,703 |
| Cimpress USA, Inc., USD Term Loan B (1 month LIBOR + 3.500%) | 6.024 | 05-17-28 | | 4,294,651 | 4,090,655 |
| Comet Bidco, Ltd., 2018 USD Term Loan B (6 month LIBOR + 5.000%) | 7.076 | 09-30-24 | | 10,032,947 | 7,926,028 |
| Element Materials Technology Group US Holdings, Inc., 2022 USD Term Loan (3 month SOFR + 4.250%) | 6.360 | 07-06-29 | | 4,809,955 | 4,719,769 |
| Holding Socotec SAS, 2021 USD Term Loan (3 month LIBOR + 4.000%) | 6.250 | 06-30-28 | | 3,341,797 | 3,107,871 |
| MHI Holdings LLC, Term Loan B (1 month LIBOR + 5.000%) | 7.524 | 09-21-26 | | 4,993,013 | 4,955,566 |
| Nielsen Finance LLC, USD Term Loan B4 (1 month LIBOR + 2.000%) | 4.369 | 10-04-23 | | 1,124,399 | 1,121,937 |
| PECF USS Intermediate Holding III Corp., Term Loan B (1 month LIBOR + 4.250%) | 6.774 | 12-15-28 | | 1,540,701 | 1,431,697 |
| Sterling Infosystems, Inc., 1st Lien Term Loan (3 month LIBOR + 3.500%) | 6.570 | 06-19-24 | | 6,853,570 | 6,740,075 |
| Tempo Acquisition LLC, 2022 Term Loan B (1 month SOFR + 3.000%) | 5.455 | 08-31-28 | | 5,766,025 | 5,668,003 |
| Viad Corp., Initial Term Loan (1 month LIBOR + 5.000%) | 7.524 | 07-30-28 | | 4,726,844 | 4,470,790 |
| Wand NewCo 3, Inc., 2020 Term Loan (1 month LIBOR + 3.000%) | 5.524 | 02-05-26 | | 4,946,409 | 4,738,660 |
| 28 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Industrials (continued) | |
| Commercial services and supplies (continued) |
| Win Waste Innovations Holdings, Inc., 2021 Term Loan B (3 month LIBOR + 2.750%) | 5.000 | 03-24-28 | | 1,130,094 | $1,105,017 |
| Construction and engineering 1.3% |
| Aegion Corp., Term Loan (1 month LIBOR + 4.750%) | 7.127 | 05-17-28 | | 3,198,442 | 2,974,551 |
| Amentum Government Services Holdings LLC, 2022 Term Loan (3 month SOFR + 4.000%) | 5.163 | 02-15-29 | | 2,376,658 | 2,309,826 |
| Amentum Government Services Holdings LLC, Term Loan B (1 month LIBOR + 4.000%) | 6.524 | 01-29-27 | | 3,235,546 | 3,138,480 |
| DG Investment Intermediate Holdings 2, Inc., 2021 Term Loan (1 month LIBOR + 3.750%) | 6.274 | 03-31-28 | | 5,802,908 | 5,670,254 |
| Energize Holdco LLC, 2021 1st Lien Term Loan (3 month LIBOR + 3.750%) | 6.000 | 12-08-28 | | 3,329,941 | 3,141,233 |
| Osmose Utilities Services, Inc., Term Loan (1 month LIBOR + 3.250%) | 5.774 | 06-23-28 | | 2,552,338 | 2,426,533 |
| Refficiency Holdings LLC, 2020 Delayed Draw Term Loan (1 and 3 month LIBOR + 3.750%) | 5.400 | 12-16-27 | | 43,049 | 42,080 |
| Tiger Acquisition LLC, 2021 Term Loan (1 month LIBOR + 3.250%) | 5.774 | 06-01-28 | | 1,151,476 | 1,097,138 |
| USIC Holdings, Inc., 2021 Term Loan (1 month LIBOR + 3.500%) | 6.024 | 05-12-28 | | 3,878,369 | 3,746,504 |
| Electrical equipment 1.1% |
| AZZ, Inc., Term Loan B (1 month SOFR + 4.250% and 4.350%) | 6.911 | 05-13-29 | | 2,861,023 | 2,827,635 |
| Brookfield WEC Holdings, Inc., 2021 Term Loan (1 month LIBOR + 2.750%) | 5.274 | 08-01-25 | | 9,053,072 | 8,825,659 |
| Creation Technologies, Inc., 2021 Term Loan (3 month LIBOR + 5.500%) | 7.785 | 10-05-28 | | 6,931,498 | 6,203,691 |
| Infinite Bidco LLC, 1st Lien Term Loan (3 month LIBOR + 3.250%) | 5.500 | 03-02-28 | | 2,114,343 | 2,053,556 |
| Infinity Bidco 1, Ltd., 2021 EUR Term Loan (3 month EURIBOR + 3.150%) | 3.150 | 07-06-28 | EUR | 1,338,977 | 1,250,296 |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 29 |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Industrials (continued) | |
| Machinery 2.4% |
| Arcline FM Holdings LLC, 2021 1st Lien Term Loan (6 month LIBOR + 4.750%) | 7.627 | 06-23-28 | | 6,164,167 | $5,917,601 |
| Brown Group Holding LLC, 2022 Term Loan B2 (1 month SOFR + 3.750%) | 6.205 | 07-02-29 | | 932,753 | 918,594 |
| Brown Group Holding LLC, Term Loan B (1 month LIBOR + 2.500%) | 5.024 | 06-07-28 | | 6,717,570 | 6,594,437 |
| Crosby US Acquisition Corp., Term Loan B (1 month LIBOR + 4.750%) | 7.194 | 06-26-26 | | 6,070,688 | 5,767,153 |
| Engineered Components & Systems LLC, Term Loan (1 month LIBOR + 6.000%) | 8.380 | 08-02-28 | | 4,034,604 | 3,812,701 |
| Granite US Holdings Corp., 2021 Term Loan B (3 month LIBOR + 4.000%) | 6.313 | 09-30-26 | | 5,961,238 | 5,797,304 |
| Pro Mach Group, Inc., 2021 Delayed Draw Term Loan (3 month LIBOR + 4.000%) | 5.518 | 08-31-28 | | 312,526 | 305,235 |
| Pro Mach Group, Inc., 2021 Term Loan B (1 month LIBOR + 4.000%) | 5.000 | 08-31-28 | | 4,540,628 | 4,434,695 |
| Shape Technologies Group, Inc., Term Loan (1 month LIBOR + 3.000%) | 5.524 | 04-21-25 | | 7,081,638 | 6,547,966 |
| Star US Bidco LLC, Term Loan B (1 month LIBOR + 4.250%) | 6.774 | 03-17-27 | | 3,648,458 | 3,475,156 |
| Stonepeak Taurus Lower Holdings LLC, 2022 2nd Lien Term Loan (3 month SOFR + 7.000%) | 9.154 | 01-28-30 | | 1,879,906 | 1,748,312 |
| Professional services 0.7% |
| Indy US Bidco LLC, 2021 USD Term Loan (1 month LIBOR + 3.750%) | 6.274 | 03-05-28 | | 1,149,518 | 1,096,835 |
| Stiphout Finance LLC, 2020 USD Term Loan B (1 month LIBOR + 3.750%) | 6.274 | 10-27-25 | | 7,504,724 | 7,288,963 |
| Trans Union LLC, 2021 Term Loan B6 (1 month LIBOR + 2.250%) | 4.774 | 12-01-28 | | 3,802,973 | 3,727,598 |
| Road and rail 0.3% |
| Uber Technologies, Inc., 2021 1st Lien Term Loan B (3 month LIBOR + 3.500%) | 6.570 | 04-04-25 | | 6,389,083 | 6,336,628 |
| 30 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Industrials (continued) | |
| Transportation infrastructure 0.4% |
| Dynasty Acquisition Company, Inc., 2020 Term Loan B1 (1 month LIBOR + 3.500%) | 6.024 | 04-06-26 | | 7,121,584 | $6,852,744 |
| Information technology 19.0% | 359,035,691 |
| Electronic equipment, instruments and components 0.7% |
| C&D Technologies, Inc., Term Loan B (1 and 6 month LIBOR + 5.750%) | 8.378 | 12-20-25 | | 6,700,011 | 6,119,321 |
| Robertshaw US Holding Corp., 2018 1st Lien Term Loan (1 month LIBOR + 3.500%) | 6.063 | 02-28-25 | | 8,061,645 | 6,512,277 |
| IT services 3.1% |
| EP Purchaser LLC, 2021 Term Loan B (3 month LIBOR + 3.500%) | 5.750 | 11-06-28 | | 5,686,814 | 5,573,078 |
| Gainwell Acquisition Corp., Term Loan B (3 month LIBOR + 4.000%) | 6.250 | 10-01-27 | | 10,244,393 | 9,994,737 |
| Genuine Financial Holdings LLC, 2018 1st Lien Term Loan (1 month LIBOR + 3.750%) | 6.274 | 07-11-25 | | 7,737,734 | 7,604,258 |
| Go Daddy Operating Company LLC, 2017 Repriced Term Loan (1 month LIBOR + 1.750%) | 4.274 | 02-15-24 | | 4,113,865 | 4,069,806 |
| GTT Communications BV, 2018 EUR Term Loan (C) | 0.000 | 05-31-25 | EUR | 3,807,767 | 3,080,427 |
| GTT Communications, Inc., 2018 USD Term Loan B (C) | 0.000 | 05-31-25 | | 9,191,274 | 7,102,832 |
| Sabre GLBL, Inc., 2021 Term Loan B1 (1 month LIBOR + 3.500%) | 6.024 | 12-17-27 | | 2,624,242 | 2,453,666 |
| Sabre GLBL, Inc., 2021 Term Loan B2 (1 month LIBOR + 3.500%) | 6.024 | 12-17-27 | | 4,183,198 | 3,911,290 |
| TGG TS Acquisition Company, 2018 Term Loan B (1 month LIBOR + 6.500%) | 9.024 | 12-14-25 | | 1,139,193 | 1,106,919 |
| Travelport Finance Luxembourg Sarl, 2020 Super Priority Term Loan (3 month LIBOR + 1.500% or 7.250% PIK) | 3.750 | 02-28-25 | | 121,067 | 118,305 |
| Travelport Finance Luxembourg Sarl, 2021 Consented Term Loan (3 month LIBOR + 5.000% or 1.750% PIK) | 7.250 | 05-29-26 | | 242,891 | 179,538 |
| Verscend Holding Corp., 2021 Term Loan B (1 month LIBOR + 4.000%) | 6.524 | 08-27-25 | | 8,278,126 | 8,207,430 |
| WEX, Inc., 2021 Term Loan (1 month LIBOR + 2.250%) | 4.774 | 03-31-28 | | 5,135,131 | 5,019,590 |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 31 |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Information technology (continued) | |
| Semiconductors and semiconductor equipment 0.5% |
| MKS Instruments, Inc., 2021 USD Tem Loan (B) | TBD | 10-21-28 | | 5,382,276 | $5,314,998 |
| MKS Instruments, Inc., 2022 USD Term Loan B (3 month SOFR + 2.750%) | 5.146 | 04-08-29 | | 3,828,216 | 3,780,363 |
| Software 14.3% |
| Acuris Finance US, Inc., 2021 USD Term Loan B (3 month SOFR + 4.000%) | 6.204 | 02-16-28 | | 1,675,749 | 1,640,843 |
| AppLovin Corp., 2018 Term Loan B (3 month LIBOR + 3.250%) | 5.500 | 08-15-25 | | 8,670,621 | 8,494,087 |
| AppLovin Corp., 2021 Term Loan B (3 month LIBOR + 3.000%) | 5.250 | 10-25-28 | | 2,033,986 | 1,974,248 |
| AQA Acquisition Holding, Inc., 2021 1st Lien Term Loan (1 and 3 month LIBOR + 4.250%) | 7.318 | 03-03-28 | | 2,104,969 | 2,029,990 |
| Avaya Holdings Corp. , 2022 Term Loan (3 month SOFR + 10.000%) | 12.307 | 12-15-27 | | 798,310 | 489,963 |
| Azalea TopCo, Inc., 2022 Incremental Term Loan (1 month SOFR + 3.750%) | 6.205 | 07-24-26 | | 1,391,136 | 1,338,968 |
| Azalea TopCo, Inc., Term Loan (1 month LIBOR + 3.500%) | 6.024 | 07-24-26 | | 5,475,198 | 5,237,027 |
| Barracuda Networks, Inc., 2022 Term Loan (3 month SOFR + 4.500%) | 7.237 | 08-15-29 | | 4,269,148 | 4,109,055 |
| Boxer Parent Company, Inc., 2021 USD Term Loan (1 month LIBOR + 3.750%) | 6.274 | 10-02-25 | | 6,698,416 | 6,451,714 |
| Castle US Holding Corp., USD Term Loan B (1 month LIBOR + 3.750%) | 6.274 | 01-29-27 | | 9,618,039 | 8,055,108 |
| Central Parent, Inc., 2022 USD Term Loan B (3 month SOFR + 4.500%) | 6.610 | 07-06-29 | | 5,234,598 | 5,095,725 |
| Cloudera, Inc., 2021 Term Loan (1 month LIBOR + 3.750%) | 6.274 | 10-08-28 | | 4,252,688 | 4,056,002 |
| Constant Contact, Inc., Term Loan (3 month LIBOR + 4.000%) | 6.423 | 02-10-28 | | 8,239,141 | 7,842,673 |
| Cornerstone OnDemand, Inc., 2021 Term Loan (1 month LIBOR + 3.750%) | 6.274 | 10-16-28 | | 6,101,256 | 5,724,991 |
| Dcert Buyer, Inc., 2019 Term Loan B (3 month LIBOR + 4.000%) | 6.903 | 10-16-26 | | 4,170,383 | 4,051,068 |
| Dcert Buyer, Inc., 2021 2nd Lien Term Loan (3 month LIBOR + 7.000%) | 9.903 | 02-19-29 | | 4,266,996 | 4,045,112 |
| 32 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Information technology (continued) | |
| Software (continued) |
| Dodge Data & Analytics LLC, 2022 Term Loan (3 month SOFR + 4.750%) | 7.578 | 02-23-29 | | 5,348,094 | $4,973,728 |
| Epicor Software Corp., 2020 Term Loan (1 month LIBOR + 3.250%) | 5.774 | 07-30-27 | | 7,702,529 | 7,463,443 |
| FinThrive Software Intermediate Holdings, Inc., 2021 2nd Lien Term Loan (1 month LIBOR + 6.750%) | 9.274 | 12-17-29 | | 1,759,796 | 1,551,261 |
| FinThrive Software Intermediate Holdings, Inc., 2021 Term Loan (1 month LIBOR + 4.000%) | 6.493 | 12-18-28 | | 6,322,401 | 6,077,408 |
| Genesys Cloud Services Holdings II LLC, 2020 USD Term Loan B4 (1 month LIBOR + 4.000%) | 6.524 | 12-01-27 | | 8,273,687 | 8,120,044 |
| Grab Holdings, Inc., Term Loan B (1 month LIBOR + 4.500%) | 7.030 | 01-29-26 | | 6,906,102 | 6,465,838 |
| Helios Software Holdings, Inc., 2021 USD Term Loan B (3 month SOFR + 3.750%) | 5.954 | 03-11-28 | | 1,664,729 | 1,600,920 |
| Instructure Holdings, Inc., 2021 Term Loan B (3 month LIBOR + 2.750%) | 6.121 | 10-30-28 | | 4,587,196 | 4,495,453 |
| ION Trading Finance, Ltd., 2021 USD Term Loan (3 month LIBOR + 4.750%) | 7.000 | 04-03-28 | | 4,848,318 | 4,706,892 |
| Ivanti Software, Inc., 2021 Add On Term Loan B (1 month LIBOR + 4.000%) | 5.611 | 12-01-27 | | 3,719,711 | 3,164,842 |
| Ivanti Software, Inc., 2021 Term Loan B (3 month LIBOR + 4.250%) | 5.848 | 12-01-27 | | 3,192,422 | 2,721,540 |
| MA FinanceCo LLC, 2020 USD Term Loan B4 (3 month LIBOR + 4.250%) | 5.915 | 06-05-25 | | 2,173,896 | 2,142,657 |
| Magenta Buyer LLC, 2021 USD 1st Lien Term Loan (1 month LIBOR + 4.750%) | 7.250 | 07-27-28 | | 6,161,922 | 5,865,903 |
| Marcel Bidco LLC, USD Term Loan B1 (1 month SOFR + 3.250%) | 5.520 | 03-15-26 | | 4,551,186 | 4,445,962 |
| Mavenir Systems, Inc., 2021 Term Loan B (3 month LIBOR + 4.750%) | 7.711 | 08-18-28 | | 2,750,021 | 2,488,769 |
| McAfee Corp., 2022 USD Term Loan B (1 month SOFR + 3.750%) | 6.157 | 03-01-29 | | 6,826,539 | 6,459,612 |
| Mitchell International, Inc., 2021 Term Loan B (1 month LIBOR + 3.750%) | 6.734 | 10-15-28 | | 5,738,894 | 5,468,076 |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 33 |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Information technology (continued) | |
| Software (continued) |
| Monotype Imaging Holdings, Inc., 2021 Term Loan B (3 month LIBOR + 5.000%) | 7.250 | 10-09-26 | | 4,743,014 | $4,565,151 |
| Monotype Imaging Holdings, Inc., Term Loan (3 month LIBOR + 5.500%) | 7.250 | 10-09-26 | | 2,139,456 | 2,059,227 |
| Motus Group LLC, 2021 Term Loan (1 month LIBOR + 4.000%) | 6.524 | 12-11-28 | | 1,690,892 | 1,585,211 |
| NortonLifeLock, Inc., 2022 Term Loan B (B) | TBD | 01-28-29 | | 4,421,357 | 4,283,189 |
| Orchid Finco LLC, Term Loan (3 month LIBOR + 4.750%) | 7.578 | 07-27-27 | | 3,999,430 | 3,786,140 |
| Peraton Corp., Term Loan B (1 month LIBOR + 3.750%) | 6.274 | 02-01-28 | | 11,522,713 | 11,177,031 |
| Precise Bidco BV, 2020 EUR Term Loan B (3 month EURIBOR + 4.000%) | 4.000 | 05-13-26 | EUR | 2,161,573 | 2,128,524 |
| Project Boost Purchaser LLC, 2019 Term Loan B (1 month LIBOR + 3.500%) | 6.024 | 06-01-26 | | 7,305,938 | 7,074,559 |
| Project Leopard Holdings, Inc., 2022 USD Term Loan B (3 month SOFR + 5.250%) | 7.827 | 07-20-29 | | 5,458,985 | 5,090,504 |
| Project Ruby Ultimate Parent Corp., 2021 Term Loan (1 month LIBOR + 3.250%) | 5.774 | 03-03-28 | | 4,788,117 | 4,637,722 |
| Proofpoint, Inc., 1st Lien Term Loan (3 month LIBOR + 3.250%) | 6.320 | 08-31-28 | | 5,278,003 | 5,070,841 |
| Quest Software, Inc., 2022 Term Loan (3 month SOFR + 4.250%) | 5.780 | 02-01-29 | | 4,334,842 | 3,929,057 |
| Red Planet Borrower LLC, Term Loan B (1 month LIBOR + 3.750%) | 6.274 | 10-02-28 | | 5,263,596 | 4,319,465 |
| Renaissance Holdings Corp., 2022 Incremental Term Loan (1 month SOFR + 4.500%) | 6.787 | 03-30-29 | | 214,791 | 209,314 |
| Seattle SpinCo, Inc., 2022 USD Term Loan B5 (1 month SOFR + 4.000%) | 6.400 | 02-26-27 | | 5,419,970 | 5,338,670 |
| Seattle SpinCo, Inc., USD Term Loan B3 (1 month LIBOR + 2.750%) | 5.274 | 06-21-24 | | 234,082 | 230,571 |
| Skillsoft Finance II, Inc., 2021 Term Loan (1 month SOFR + 5.250%) | 7.652 | 07-14-28 | | 4,919,499 | 4,725,179 |
| SolarWinds Holdings, Inc., 2018 Term Loan B (1 month LIBOR + 2.750%) | 5.274 | 02-05-24 | | 7,728,974 | 7,593,717 |
| Sophia LP, 2021 Term Loan B (3 month LIBOR + 3.500%) | 5.750 | 10-07-27 | | 7,218,191 | 6,961,079 |
| 34 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Information technology (continued) | |
| Software (continued) |
| SS&C Technologies, Inc., 2018 Term Loan B3 (1 month LIBOR + 1.750%) | 4.274 | 04-16-25 | | 885,101 | $864,496 |
| SS&C Technologies, Inc., 2018 Term Loan B4 (1 month LIBOR + 1.750%) | 4.274 | 04-16-25 | | 718,514 | 701,787 |
| SS&C Technologies, Inc., 2018 Term Loan B5 (1 month LIBOR + 1.750%) | 4.274 | 04-16-25 | | 3,095,702 | 3,020,043 |
| SS&C Technologies, Inc., 2022 Term Loan B6 (1 month SOFR + 2.250%) | 4.805 | 03-22-29 | | 273,829 | 266,882 |
| SS&C Technologies, Inc., 2022 Term Loan B7 (1 month SOFR + 2.250%) | 4.805 | 03-22-29 | | 387,974 | 378,131 |
| Symplr Software, Inc., 2020 Term Loan (3 month SOFR + 4.500%) | 6.654 | 12-22-27 | | 4,168,708 | 4,028,014 |
| ThoughtWorks, Inc., 2021 Term Loan B (1 month LIBOR + 2.750%) | 5.274 | 03-23-28 | | 1,712,581 | 1,696,535 |
| UKG, Inc., 2021 Term Loan (3 month LIBOR + 3.250%) | 5.535 | 05-04-26 | | 5,078,952 | 4,912,972 |
| UKG, Inc., Term Loan B (1 month LIBOR + 3.750%) | 6.274 | 05-04-26 | | 3,637,426 | 3,537,870 |
| Upland Software, Inc., 2019 Term Loan (1 month LIBOR + 3.750%) | 6.274 | 08-06-26 | | 3,155,998 | 3,034,366 |
| Veritas US, Inc., 2021 Term Loan B (B) | TBD | 09-01-25 | | 883,924 | 701,986 |
| Vision Solutions, Inc., 2021 Incremental Term Loan (3 month LIBOR + 4.000%) | 6.783 | 04-24-28 | | 6,220,093 | 5,898,701 |
| Voyage Australia Pty, Ltd., USD Term Loan B (3 month LIBOR + 3.500%) | 6.210 | 07-20-28 | | 2,090,450 | 2,004,219 |
| VS Buyer LLC, Term Loan B (1 month LIBOR + 3.000%) | 5.524 | 02-28-27 | | 2,166,450 | 2,120,413 |
| Weld North Education LLC, 2021 Term Loan B (1 month LIBOR + 3.750%) | 6.274 | 12-21-27 | | 3,627,783 | 3,529,144 |
| Technology hardware, storage and peripherals 0.4% |
| Electronics For Imaging, Inc., Term Loan (1 month LIBOR + 5.000%) | 7.524 | 07-23-26 | | 9,706,805 | 8,577,224 |
| Materials 8.2% | 154,446,541 |
| Chemicals 3.2% |
| Ascend Performance Materials Operations LLC, 2021 Term Loan B (3 month LIBOR + 4.750%) | 7.000 | 08-27-26 | | 2,144,396 | 2,134,210 |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 35 |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Materials (continued) | |
| Chemicals (continued) |
| ASP Unifrax Holdings, Inc., EUR Term Loan B (3 month EURIBOR + 3.750%) | 3.750 | 12-12-25 | EUR | 4,607,702 | $4,163,617 |
| ASP Unifrax Holdings, Inc., Term Loan B (3 month LIBOR + 3.750%) | 6.000 | 12-12-25 | | 3,223,284 | 2,970,611 |
| Hyperion Materials & Technologies, Inc., 2021 Term Loan B (3 month LIBOR + 4.500%) | 7.570 | 08-30-28 | | 3,993,610 | 3,835,543 |
| INEOS US Finance LLC, 2021 USD Term Loan B (2 month LIBOR + 2.500%) | 5.093 | 11-08-28 | | 3,614,107 | 3,541,066 |
| INEOS US Finance LLC, Term Loan (B) | TBD | 04-01-24 | | 176,209 | 173,957 |
| INEOS US Petrochem LLC, 2021 USD Term Loan B (1 month LIBOR + 2.750%) | 5.274 | 01-29-26 | | 3,100,227 | 3,020,148 |
| Innophos Holdings, Inc., 2020 Term Loan B (1 month LIBOR + 3.250%) | 5.774 | 02-05-27 | | 5,294,499 | 5,181,991 |
| Jadex, Inc., Term Loan (1 month LIBOR + 4.750%) | 7.274 | 02-18-28 | | 8,109,716 | 7,501,488 |
| Kraton Corp., 2022 USD Term Loan (3 month SOFR + 3.250%) | 5.109 | 03-15-29 | | 2,039,852 | 2,007,990 |
| Meridian Adhesives Group, Inc., Term Loan B (1 month LIBOR + 4.000%) | 6.368 | 07-24-28 | | 4,592,983 | 4,547,053 |
| Nouryon USA LLC, 2018 USD Term Loan B (3 month LIBOR + 2.750%) | 5.000 | 10-01-25 | | 6,431,186 | 6,259,152 |
| Olympus Water US Holding Corp., 2021 USD Term Loan B (3 month LIBOR + 3.750%) | 6.063 | 11-09-28 | | 5,029,959 | 4,831,125 |
| Olympus Water US Holding Corp., 2022 Incremental Term Loan (3 month SOFR + 4.500%) | 6.654 | 11-09-28 | | 912,984 | 889,019 |
| Plaskolite PPC Intermediate II LLC, 2021 Term Loan (1 month LIBOR + 4.000%) | 6.524 | 12-15-25 | | 263 | 248 |
| Secure Acquisition, Inc., 2021 Term Loan (3 month LIBOR + 5.000%) | 7.250 | 12-16-28 | | 3,568,764 | 3,381,404 |
| Sparta US HoldCo LLC, 2021 Term Loan (1 month LIBOR + 3.250%) | 5.612 | 08-02-28 | | 1,798,541 | 1,743,685 |
| Technimark Holdings LLC, 2021 Term Loan (1 month LIBOR + 3.750%) | 6.127 | 07-09-29 | | 1,213,064 | 1,143,313 |
| Trinseo Materials Operating SCA, Term Loan B (B) | TBD | 09-06-24 | | 543,389 | 527,087 |
| 36 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Materials (continued) | |
| Chemicals (continued) |
| Univar Solutions USA, Inc., 2019 USD Term Loan B5 (1 month LIBOR + 2.000%) | 4.524 | 07-01-26 | | 812,752 | $805,234 |
| Venator Finance Sarl, Term Loan B (1 month LIBOR + 3.000%) | 5.524 | 08-08-24 | | 658,272 | 606,710 |
| Construction materials 0.4% |
| GYP Holdings III Corp., 2021 Term Loan B (1 month LIBOR + 2.500%) | 5.024 | 06-01-25 | | 2,052,158 | 2,016,246 |
| Potters Borrower LP, Term Loan B (3 month LIBOR + 4.000%) | 6.250 | 12-14-27 | | 784,079 | 754,676 |
| Quikrete Holdings, Inc., 2016 1st Lien Term Loan (1 month LIBOR + 2.625%) | 5.149 | 02-01-27 | | 2,824,034 | 2,715,054 |
| Quikrete Holdings, Inc., 2021 Term Loan B1 (1 month LIBOR + 3.000%) | 5.524 | 06-11-28 | | 2,647,475 | 2,556,879 |
| Containers and packaging 4.4% |
| Anchor Packaging LLC, Term Loan B (1 month LIBOR + 4.000%) | 6.524 | 07-18-26 | | 307,149 | 299,854 |
| Charter Next Generation, Inc., 2021 Term Loan (3 month LIBOR + 3.750%) | 6.556 | 12-01-27 | | 2,204,496 | 2,137,567 |
| Clydesdale Acquisition Holdings, Inc., Term Loan B (1 month SOFR + 4.175%) | 6.730 | 04-13-29 | | 7,834,617 | 7,549,280 |
| Graham Packaging Company, Inc., 2021 Term Loan (1 month LIBOR + 3.000%) | 5.524 | 08-04-27 | | 5,741,268 | 5,597,736 |
| Iris Holding, Inc., Term Loan (3 month SOFR + 4.750%) | 7.414 | 06-28-28 | | 2,998,387 | 2,837,854 |
| LABL, Inc., 2021 USD 1st Lien Term Loan (1 month LIBOR + 5.000%) | 7.524 | 10-29-28 | | 4,441,135 | 4,278,056 |
| LTI Holdings, Inc., 2018 Add On 1st Lien Term Loan (1 month LIBOR + 3.250%) | 5.774 | 09-06-25 | | 7,124,236 | 6,737,462 |
| LTI Holdings, Inc., 2019 Term Loan (1 month LIBOR + 4.500%) | 7.024 | 07-24-26 | | 5,381,507 | 5,107,965 |
| LTI Holdings, Inc., 2021 First Lien Delayed Draw Term loan (1 month LIBOR + 4.500%) | 7.024 | 07-24-26 | | 1,422,134 | 1,349,250 |
| LTI Holdings, Inc., 2021 First Lien Term Loan (1 month LIBOR + 4.500%) | 7.024 | 07-24-26 | | 1,415,024 | 1,342,504 |
| MAR Bidco Sarl, USD Term Loan (3 month LIBOR + 4.050%) | 6.300 | 07-06-28 | | 1,545,155 | 1,452,446 |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 37 |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Materials (continued) | |
| Containers and packaging (continued) |
| Mauser Packaging Solutions Holding Company, 2017 Term Loan B (1 month LIBOR + 3.250%) | 5.623 | 04-03-24 | | 13,286,073 | $12,984,745 |
| Plaze, Inc., 2019 Term Loan B (1 month LIBOR + 3.500%) | 6.024 | 08-03-26 | | 6,694,749 | 6,368,380 |
| Proampac PG Borrower LLC, 2020 Term Loan (1, 2 and 3 month LIBOR + 3.750%) | 6.018 | 11-03-25 | | 8,907,399 | 8,647,570 |
| TricorBraun Holdings, Inc., 2021 Delayed Draw Term Loan (1 month LIBOR + 3.250%) | 5.052 | 03-03-28 | | 83,508 | 80,784 |
| TricorBraun Holdings, Inc., 2021 Term Loan (1 month LIBOR + 3.250%) | 5.774 | 03-03-28 | | 3,986,883 | 3,856,831 |
| Trident TPI Holdings, Inc., 2017 USD Term Loan B1 (3 month LIBOR + 3.250%) | 5.500 | 10-17-24 | | 6,192,985 | 6,106,531 |
| Valcour Packaging LLC, 2021 1st Lien Term Loan (6 month LIBOR + 3.750%) | 5.220 | 10-04-28 | | 3,973,834 | 3,785,077 |
| Valcour Packaging LLC, 2021 2nd Lien Term Loan (3 month LIBOR + 7.000%) | 8.470 | 10-04-29 | | 2,708,988 | 2,302,640 |
| Metals and mining 0.2% |
| Vibrantz Technologies, Inc., 2022 Term Loan B (3 month SOFR + 4.250%) | 6.977 | 04-23-29 | | 4,833,386 | 4,316,503 |
| Utilities 0.1% | 1,864,384 |
| Independent power and renewable electricity producers 0.1% |
|
| Esdec Solar Group BV, Term Loan B (3 month LIBOR + 4.750%) | 6.250 | 08-30-28 | | 1,962,509 | 1,864,384 |
| Corporate bonds 7.3% | | | | | $137,252,178 |
| (Cost $174,614,564) | | | | | |
| Communication services 1.4% | | | | | 27,047,410 |
| Diversified telecommunication services 0.5% | | | |
| Connect Finco SARL (E) | 6.750 | 10-01-26 | | 4,409,000 | 4,042,965 |
| Iliad Holding SASU (E) | 6.500 | 10-15-26 | | 3,749,000 | 3,425,761 |
| Iliad Holding SASU (E) | 7.000 | 10-15-28 | | 2,689,000 | 2,433,088 |
| Media 0.8% | | | |
| Altice France SA (E) | 5.500 | 10-15-29 | | 4,192,000 | 3,310,422 |
| CCO Holdings LLC (E) | 6.375 | 09-01-29 | | 2,732,000 | 2,653,455 |
| National CineMedia LLC (E)(F) | 5.875 | 04-15-28 | | 4,637,000 | 3,240,801 |
| Sirius XM Radio, Inc. (E) | 4.125 | 07-01-30 | | 2,000,000 | 1,694,540 |
| Tele Columbus AG | 3.875 | 05-02-25 | EUR | 1,906,000 | 1,628,120 |
| 38 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
| | Rate (%) | Maturity date | | Par value^ | Value |
Communication
services (continued) | | | | | |
| Media (continued) | | | |
| United Group BV (E) | 3.625 | 02-15-28 | EUR | 834,000 | $659,210 |
| United Group BV (Greater of 3 month EURIBOR + 4.875% or 4.875%) (E)(G) | 5.142 | 02-01-29 | EUR | 2,938,000 | 2,619,793 |
| Wireless telecommunication services 0.1% | | | |
| Lorca Telecom Bondco SA | 4.000 | 09-18-27 | EUR | 1,500,000 | 1,339,255 |
| Consumer discretionary 1.9% | | | | | 35,497,607 |
| Automobiles 0.2% | | | |
| Constellation Automotive Financing PLC (E) | 4.875 | 07-15-27 | GBP | 2,813,000 | 2,552,364 |
| Distributors 0.1% | | | |
| Northwest Fiber LLC (E)(F) | 6.000 | 02-15-28 | | 3,136,000 | 2,446,563 |
| Diversified consumer services 0.1% | | | |
| WW International, Inc. (E) | 4.500 | 04-15-29 | | 2,758,000 | 1,722,412 |
| Hotels, restaurants and leisure 0.6% | | | |
| Caesars Entertainment, Inc. (E) | 4.625 | 10-15-29 | | 461,000 | 370,803 |
| Deuce Finco PLC (E) | 5.500 | 06-15-27 | GBP | 2,979,000 | 2,837,931 |
| Deuce Finco PLC | 5.500 | 06-15-27 | GBP | 957,000 | 911,682 |
| Punch Finance PLC (E) | 6.125 | 06-30-26 | GBP | 1,598,000 | 1,615,096 |
| Stonegate Pub Company Financing 2019 PLC | 8.000 | 07-13-25 | GBP | 667,000 | 705,157 |
| Stonegate Pub Company Financing 2019 PLC | 8.000 | 07-13-25 | GBP | 4,077,000 | 4,310,230 |
| Stonegate Pub Company Financing 2019 PLC (E) | 8.250 | 07-31-25 | GBP | 611,000 | 645,982 |
| Leisure products 0.1% | | | |
| Mattel, Inc. (E) | 3.750 | 04-01-29 | | 2,000,000 | 1,782,000 |
| Specialty retail 0.8% | | | |
| F-Brasile SpA (E) | 7.375 | 08-15-26 | | 12,653,000 | 10,375,460 |
| Maxeda DIY Holding BV (E) | 5.875 | 10-01-26 | EUR | 162,000 | 116,554 |
| Maxeda DIY Holding BV | 5.875 | 10-01-26 | EUR | 2,640,000 | 1,899,215 |
| Staples, Inc. (E) | 7.500 | 04-15-26 | | 3,794,000 | 3,206,158 |
| Consumer staples 0.4% | | | | | 7,112,705 |
| Household products 0.2% | | | |
| Kronos Acquisition Holdings, Inc. (E) | 5.000 | 12-31-26 | | 1,966,000 | 1,780,901 |
| Kronos Acquisition Holdings, Inc. (E) | 7.000 | 12-31-27 | | 1,430,000 | 1,179,750 |
| Personal products 0.2% | | | |
| Coty, Inc. (E) | 4.750 | 01-15-29 | | 2,000,000 | 1,769,680 |
| Douglas GmbH (E) | 6.000 | 04-08-26 | EUR | 1,299,000 | 1,067,507 |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 39 |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Consumer staples (continued) | | | | | |
| Personal products (continued) | | | |
| Douglas GmbH | 6.000 | 04-08-26 | EUR | 1,600,000 | $1,314,867 |
| Financials 0.9% | | | | | 17,131,159 |
| Capital markets 0.7% | | | |
| AG Issuer LLC (E) | 6.250 | 03-01-28 | | 8,446,000 | 7,741,047 |
| AG TTMT Escrow Issuer LLC (E) | 8.625 | 09-30-27 | | 140,000 | 140,056 |
| Aretec Escrow Issuer, Inc. (E) | 7.500 | 04-01-29 | | 2,758,000 | 2,375,630 |
| Hightower Holding LLC (E) | 6.750 | 04-15-29 | | 3,046,000 | 2,560,033 |
| Consumer finance 0.1% | | | |
| Encore Capital Group, Inc. (E) | 4.250 | 06-01-28 | GBP | 2,070,000 | 1,951,258 |
| Insurance 0.1% | | | |
| NFP Corp. (E) | 7.500 | 10-01-30 | | 2,399,000 | 2,363,135 |
| Health care 0.3% | | | | | 6,327,275 |
| Health care providers and services 0.3% | | | |
| US Acute Care Solutions LLC (E) | 6.375 | 03-01-26 | | 7,084,000 | 6,327,275 |
| Industrials 0.9% | | | | | 16,642,441 |
| Aerospace and defense 0.2% | | | |
| BWX Technologies, Inc. (E) | 4.125 | 06-30-28 | | 1,500,000 | 1,380,000 |
| Spirit AeroSystems, Inc. (E) | 7.500 | 04-15-25 | | 3,237,000 | 3,165,495 |
| Building products 0.3% | | | |
| JELD-WEN, Inc. (E) | 4.625 | 12-15-25 | | 1,377,000 | 1,184,220 |
| Victors Merger Corp. (E) | 6.375 | 05-15-29 | | 5,855,000 | 3,922,850 |
| Construction and engineering 0.2% | | | |
| Cheever Escrow Issuer LLC (E) | 7.125 | 10-01-27 | | 1,132,000 | 1,103,700 |
| New Enterprise Stone & Lime Company, Inc. (E) | 5.250 | 07-15-28 | | 2,375,000 | 2,110,625 |
| Novafives SAS (Greater of 3 month EURIBOR + 4.500% or 4.500%) (G) | 4.500 | 06-15-25 | EUR | 1,332,000 | 896,135 |
| Marine 0.1% | | | |
| Anarafe SLU (3 month EURIBOR + 1.000% Cash or 3 month EURIBOR + 11.750% PIK) (E) | 12.332 | 03-31-26 | EUR | 1,152,407 | 1,204,436 |
| Trading companies and distributors 0.1% | | | |
| Beacon Roofing Supply, Inc. (E) | 4.125 | 05-15-29 | | 2,000,000 | 1,674,980 |
| Information technology 0.7% | | | | | 12,774,727 |
| IT services 0.1% | | | |
| Paysafe Finance PLC (E) | 4.000 | 06-15-29 | | 2,584,000 | 1,931,540 |
| Software 0.6% | | | |
| Avaya, Inc. (E) | 6.125 | 09-15-28 | | 5,815,000 | 3,179,526 |
| Castle US Holding Corp. (E) | 9.500 | 02-15-28 | | 1,874,000 | 1,461,689 |
| 40 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
| | Rate (%) | Maturity date | | Par value^ | Value |
Information
technology (continued) | | | | | |
| Software (continued) | | | |
| Helios Software Holdings, Inc. (E) | 4.625 | 05-01-28 | | 5,103,000 | $4,073,673 |
| ION Trading Technologies Sarl (E) | 5.750 | 05-15-28 | | 2,172,000 | 1,851,869 |
| Veritas US, Inc. (E) | 7.500 | 09-01-25 | | 359,000 | 276,430 |
| Materials 0.8% | | | | | 14,718,854 |
| Chemicals 0.5% | | | |
| ASP Unifrax Holdings, Inc. (E) | 5.250 | 09-30-28 | | 2,701,000 | 2,166,808 |
| ASP Unifrax Holdings, Inc. (E)(F) | 7.500 | 09-30-29 | | 3,362,000 | 2,459,247 |
| Olympus Water US Holding Corp. (E) | 6.250 | 10-01-29 | | 2,174,000 | 1,641,370 |
| Trinseo Materials Operating SCA (E) | 5.375 | 09-01-25 | | 1,534,000 | 1,322,124 |
| Venator Finance Sarl (E) | 5.750 | 07-15-25 | | 1,558,000 | 1,145,130 |
| Containers and packaging 0.1% | | | |
| Kleopatra Holdings 2 SCA | 6.500 | 09-01-26 | EUR | 2,424,000 | 1,674,750 |
| Metals and mining 0.2% | | | |
| Midwest Vanadium Proprietary, Ltd. (C)(E) | 13.250 | 02-15-18 | | 5,663,972 | 11,328 |
|
| Vibrantz Technologies, Inc. (E) | 9.000 | 02-15-30 | | 5,900,000 | 4,298,097 |
| Asset backed securities 1.6% | | | | | $30,427,504 |
| (Cost $32,947,040) | | | | | |
| Asset backed securities 1.6% | | | | | 30,427,504 |
Atlas Senior Loan Fund X, Ltd.
Series 2018-10A, Class D (3 month LIBOR + 2.750%) (E)(G) | 5.262 | 01-15-31 | | 4,900,000 | 4,103,662 |
Cedar Funding VIII CLO, Ltd.
Series 2017-8A, Class DR (3 month LIBOR + 3.500%) (E)(G) | 6.240 | 10-17-34 | | 850,000 | 784,921 |
Hayfin US XIV, Ltd.
Series 2021-14A, Class D (3 month LIBOR + 3.650%) (E)(G) | 6.360 | 07-20-34 | | 3,000,000 | 2,805,381 |
Jamestown CLO IX, Ltd.
Series 2016-9A, Class CRR (3 month LIBOR + 3.900%) (E)(G) | 6.683 | 07-25-34 | | 3,450,000 | 3,264,387 |
Jamestown CLO XVI, Ltd.
Series 2021-16A, Class D (3 month LIBOR + 3.650%) (E)(G) | 6.433 | 07-25-34 | | 3,100,000 | 2,894,820 |
Marble Point CLO XI, Ltd.
Series 2017-2A, Class D (3 month LIBOR + 2.800%) (E)(G) | 5.540 | 12-18-30 | | 2,500,000 | 2,123,563 |
Northwoods Capital XVII, Ltd.
Series 2018-17A, Class D (3 month LIBOR + 2.850%) (E)(G) | 5.609 | 04-22-31 | | 1,350,000 | 1,160,260 |
Parallel, Ltd.
Series 2020-1A, Class CR (3 month LIBOR + 3.400%) (E)(G) | 6.110 | 07-20-34 | | 1,350,000 | 1,224,501 |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 41 |
| | Rate (%) | Maturity date | | Par value^ | Value |
Asset backed
securities (continued) | | | | | |
Sculptor CLO XXVII, Ltd.
Series 27A, Class D (3 month LIBOR + 3.700%) (E)(G) | 6.410 | 07-20-34 | | 3,550,000 | $3,326,765 |
Shackleton XIV CLO, Ltd.
Series 2019-14A, Class DR (3 month LIBOR + 3.700%) (E)(G) | 6.410 | 07-20-34 | | 2,950,000 | 2,770,920 |
TCW CLO, Ltd.
Series 2020-1A, Class DRR (3 month LIBOR + 3.400%) (E)(G) | 6.110 | 04-20-34 | | 1,300,000 | 1,214,460 |
| Wellfleet CLO, Ltd. | | | | | |
| Series 2020-2A, Class DR (3 month LIBOR + 3.800%) (E)(G) | 6.312 | 07-15-34 | | 2,900,000 | 2,703,244 |
| Series 2021-2A, Class D (3 month LIBOR + 3.600%) (E)(G) | 6.112 | 07-15-34 | | 2,200,000 | 2,050,620 |
|
| | | | | Shares | Value |
| Common stocks 0.4% | | | | | $7,068,949 |
| (Cost $2,672,664) | | | | | |
| Communication services 0.1% | | | | | 1,835,683 |
| Entertainment 0.1% | | | |
| Cineworld Group PLC (H) | | | 105,512 | 12,257 |
| Technicolor SA (H) | | | 586,571 | 1,823,426 |
| Consumer discretionary 0.0% | | | | | 24,458 |
| Hotels, restaurants and leisure 0.0% | | | |
| NPC International, Inc. (D)(H) | | | 149,959 | 24,458 |
| Energy 0.3% | | | | | 5,196,510 |
| Oil, gas and consumable fuels 0.3% | | | |
| Ultra Petroleum Corp. (H) | | | 37,155 | 1,368,530 |
| Ultra Resources, Inc. (H) | | | 103,928 | 3,827,980 |
| Industrials 0.0% | | | | | 12,298 |
| Marine 0.0% | | | |
| Naviera Armas SA, Class A2 (D)(H) | | | 2,453 | 0 |
| Naviera Armas SA, Class A3 (H) | | | 430 | 5,402 |
| Naviera Armas SA, Class B2 (D)(H) | | | 3,126 | 0 |
| Naviera Armas SA, Class B3 (H) | | | 549 | 6,896 |
|
| | | | | Par value^ | Value |
| Escrow certificates 0.0% | | | | | $0 |
| (Cost $0) | | | | | |
| Magellan Health, Inc. (D)(H) | | | | 3,400,000 | 0 |
|
| 42 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
| | | Yield (%) | | Shares | Value |
| Short-term investments 0.3% | | | | | $6,838,815 |
| (Cost $6,842,625) | | | | | |
| Short-term funds 0.3% | | | | | 6,838,815 |
| John Hancock Collateral Trust (I) | 2.3160(J) | | 684,333 | 6,838,815 |
|
| Total investments (Cost $1,994,248,779) 98.5% | | | $1,862,829,791 |
| Other assets and liabilities, net 1.5% | | | | 28,201,978 |
| Total net assets 100.0% | | | | | $1,891,031,769 |
| The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund. |
| ^All par values are denominated in U.S. dollars unless otherwise indicated. |
| Currency Abbreviations |
| EUR | Euro |
| GBP | Pound Sterling |
| Security Abbreviations and Legend |
| EURIBOR | Euro Interbank Offered Rate |
| LIBOR | London Interbank Offered Rate |
| PIK | Pay-in-Kind Security - Represents a payment-in-kind which may pay interest in additional par and/or cash. Rates shown are the current rate and most recent payment rate. |
| SOFR | Secured Overnight Financing Rate |
| SONIA | Sterling Overnight Interbank Average Rate |
| (A) | Term loans are variable rate obligations. The coupon rate shown represents the rate at period end. |
| (B) | This position represents an unsettled loan commitment at period end. Certain details associated with this purchase are not known prior to the settlement date, including coupon rate, which is disclosed as TBD (To Be Determined). |
| (C) | Non-income producing - Issuer is in default. |
| (D) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements. |
| (E) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. |
| (F) | All or a portion of this security is on loan as of 8-31-22. |
| (G) | Variable rate obligation. The coupon rate shown represents the rate at period end. |
| (H) | Non-income producing security. |
| (I) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |
| (J) | The rate shown is the annualized seven-day yield as of 8-31-22. |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 43 |
DERIVATIVES
FORWARD FOREIGN CURRENCY CONTRACTS
| Contract to buy | Contract to sell | Counterparty (OTC) | Contractual
settlement
date | Unrealized
appreciation | Unrealized
depreciation |
| USD | 110,562,754 | EUR | 106,090,000 | CITI | 1/9/2023 | $2,994,522 | — |
| USD | 45,930,005 | GBP | 37,400,000 | CITI | 7/6/2023 | 2,368,111 | — |
| | | | | | | $5,362,633 | — |
| Derivatives Currency Abbreviations |
| EUR | Euro |
| GBP | Pound Sterling |
| USD | U.S. Dollar |
| Derivatives Abbreviations |
| CITI | Citibank, N.A. |
| OTC | Over-the-counter |
At 8-31-22, the aggregate cost of investments for federal income tax purposes was $2,000,821,439. Net unrealized depreciation aggregated to $132,629,015, of which $9,474,709 related to gross unrealized appreciation and $142,103,724 related to gross unrealized depreciation.
See Notes to financial statements regarding investment transactions and other derivatives information.
| 44 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
STATEMENT OF ASSETS AND LIABILITIES 8-31-22
| Assets | |
| Unaffiliated investments, at value (Cost $1,987,406,154) including $6,668,671 of securities loaned | $1,855,990,976 |
| Affiliated investments, at value (Cost $6,842,625) | 6,838,815 |
| Total investments, at value (Cost $1,994,248,779) | 1,862,829,791 |
| Unrealized appreciation on forward foreign currency contracts | 5,362,633 |
| Cash | 21,701,175 |
| Foreign currency, at value (Cost $25,638,240) | 24,856,869 |
| Collateral segregated at custodian for OTC derivative contracts | 22,347,630 |
| Interest receivable | 13,438,442 |
| Receivable for fund shares sold | 1,185,103 |
| Receivable for investments sold | 38,672,585 |
| Receivable for securities lending income | 22,919 |
| Other assets | 125,873 |
| Total assets | 1,990,543,020 |
| Liabilities | |
| Distributions payable | 58,864 |
| Payable for investments purchased | 82,760,376 |
| Payable for fund shares repurchased | 9,376,489 |
| Payable upon return of securities loaned | 6,846,958 |
| Payable to affiliates | |
| Investment management fees | 428 |
| Accounting and legal services fees | 69,770 |
| Transfer agent fees | 72,940 |
| Trustees’ fees | 1,771 |
| Other liabilities and accrued expenses | 323,655 |
| Total liabilities | 99,511,251 |
| Net assets | $1,891,031,769 |
| Net assets consist of | |
| Paid-in capital | $2,392,767,202 |
| Total distributable earnings (loss) | (501,735,433) |
| Net assets | $1,891,031,769 |
| |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK Floating Rate Income Fund | 45 |
STATEMENT OF ASSETS AND LIABILITIES 8-31-22 (continued)
| Net asset value per share | |
| Based on net asset value and shares outstanding - the fund has an unlimited number of shares authorized with no par value | |
| Class A ($147,723,467 ÷ 19,070,294 shares)1 | $7.75 |
| Class C ($18,868,864 ÷ 2,426,103 shares)1 | $7.78 |
| Class I ($454,183,093 ÷ 58,688,526 shares) | $7.74 |
| Class R6 ($505,389,745 ÷ 65,220,491 shares) | $7.75 |
| Class 1 ($16,219,438 ÷ 2,096,490 shares) | $7.74 |
| Class NAV ($748,647,162 ÷ 96,624,538 shares) | $7.75 |
| Maximum offering price per share | |
| Class A (net asset value per share ÷ 97.5%)2 | $7.95 |
| 1 | Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
| 2 | On single retail sales of less than $100,000. On sales of $100,000 or more and on group sales the offering price is reduced. |
| 46 | JOHN HANCOCK Floating Rate Income Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
STATEMENT OF OPERATIONS For the year ended 8-31-22
| Investment income | |
| Interest | $99,920,644 |
| Dividends | 1,173,350 |
| Securities lending | 111,820 |
| Other income | 808 |
| Total investment income | 101,206,622 |
| Expenses | |
| Investment management fees | 12,928,686 |
| Distribution and service fees | 557,597 |
| Line of credit fees | 447,313 |
| Accounting and legal services fees | 289,297 |
| Transfer agent fees | 737,242 |
| Trustees’ fees | 31,602 |
| Custodian fees | 241,142 |
| State registration fees | 148,683 |
| Printing and postage | 38,029 |
| Professional fees | 129,415 |
| Other | 174,805 |
| Total expenses | 15,723,811 |
| Less expense reductions | (1,462,186) |
| Net expenses | 14,261,625 |
| Net investment income | 86,944,997 |
| Realized and unrealized gain (loss) | |
| Net realized gain (loss) on | |
| Unaffiliated investments and foreign currency transactions | (44,702,401) |
| Affiliated investments | (8,561) |
| Capital gain distributions received from affiliated investments | 4,459 |
| Forward foreign currency contracts | 26,707,494 |
| | (17,999,009) |
| Change in net unrealized appreciation (depreciation) of | |
| Unaffiliated investments and translation of assets and liabilities in foreign currencies | (122,891,487) |
| Affiliated investments | (7,202) |
| Forward foreign currency contracts | 4,495,692 |
| | (118,402,997) |
| Net realized and unrealized loss | (136,402,006) |
| Decrease in net assets from operations | $(49,457,009) |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK Floating Rate Income Fund | 47 |
STATEMENTS OF CHANGES IN NET ASSETS
| | Year ended
8-31-22 | Year ended
8-31-21 |
| Increase (decrease) in net assets | | |
| From operations | | |
| Net investment income | $86,944,997 | $45,956,776 |
| Net realized loss | (17,999,009) | (4,627,660) |
| Change in net unrealized appreciation (depreciation) | (118,402,997) | 39,453,342 |
| Increase (decrease) in net assets resulting from operations | (49,457,009) | 80,782,458 |
| Distributions to shareholders | | |
| From earnings | | |
| Class A | (6,741,097) | (3,042,478) |
| Class B | — | (6,414)1 |
| Class C | (794,453) | (643,345) |
| Class I | (22,133,222) | (3,210,075) |
| Class R6 | (22,072,207) | (3,506,958) |
| Class 1 | (800,303) | (511,178) |
| Class NAV | (46,730,483) | (24,702,509) |
| Total distributions | (99,271,765) | (35,622,957) |
| From fund share transactions | 289,452,146 | 925,360,279 |
| Total increase | 140,723,372 | 970,519,780 |
| Net assets | | |
| Beginning of year | 1,750,308,397 | 779,788,617 |
| End of year | $1,891,031,769 | $1,750,308,397 |
| 1 | Share class was redesignated during the year. Refer to Note 6 for further details. |
| 48 | JOHN HANCOCK Floating Rate Income Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
| CLASS A SHARES Period ended | 8-31-22 | 8-31-21 | 8-31-20 | 8-31-19 | 8-31-18 |
| Per share operating performance | | | | | |
| Net asset value, beginning of period | $8.30 | $7.89 | $8.28 | $8.43 | $8.45 |
| Net investment income1 | 0.34 | 0.30 | 0.36 | 0.40 | 0.34 |
| Net realized and unrealized gain (loss) on investments | (0.51) | 0.36 | (0.36) | (0.16) | —2 |
| Total from investment operations | (0.17) | 0.66 | — | 0.24 | 0.34 |
| Less distributions | | | | | |
| From net investment income | (0.38) | (0.25) | (0.39) | (0.39) | (0.36) |
| Net asset value, end of period | $7.75 | $8.30 | $7.89 | $8.28 | $8.43 |
| Total return (%)3,4 | (2.05) | 8.41 | 0.11 | 2.96 | 4.05 |
| Ratios and supplemental data | | | | | |
| Net assets, end of period (in millions) | $148 | $118 | $89 | $109 | $117 |
| Ratios (as a percentage of average net assets): | | | | | |
| Expenses before reductions | 1.10 | 1.12 | 1.175 | 1.16 | 1.13 |
| Expenses including reductions | 1.01 | 1.00 | 0.995 | 1.06 | 1.13 |
| Net investment income | 4.18 | 3.71 | 4.49 | 4.77 | 4.03 |
| Portfolio turnover (%) | 52 | 59 | 81 | 120 | 71 |
| 1 | Based on average daily shares outstanding. |
| 2 | Less than $0.005 per share. |
| 3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
| 4 | Does not reflect the effect of sales charges, if any. |
| 5 | Includes reimbursement of legal fees of 0.01%. |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK Floating Rate Income Fund | 49 |
| CLASS C SHARES Period ended | 8-31-22 | 8-31-21 | 8-31-20 | 8-31-19 | 8-31-18 |
| Per share operating performance | | | | | |
| Net asset value, beginning of period | $8.33 | $7.92 | $8.32 | $8.47 | $8.49 |
| Net investment income1 | 0.27 | 0.25 | 0.30 | 0.33 | 0.28 |
| Net realized and unrealized gain (loss) on investments | (0.50) | 0.34 | (0.37) | (0.15) | (0.01) |
| Total from investment operations | (0.23) | 0.59 | (0.07) | 0.18 | 0.27 |
| Less distributions | | | | | |
| From net investment income | (0.32) | (0.18) | (0.33) | (0.33) | (0.29) |
| Net asset value, end of period | $7.78 | $8.33 | $7.92 | $8.32 | $8.47 |
| Total return (%)2,3 | (2.76) | 7.58 | (0.74) | 2.20 | 3.28 |
| Ratios and supplemental data | | | | | |
| Net assets, end of period (in millions) | $19 | $22 | $39 | $71 | $102 |
| Ratios (as a percentage of average net assets): | | | | | |
| Expenses before reductions | 1.85 | 1.87 | 1.924 | 1.91 | 1.88 |
| Expenses including reductions | 1.76 | 1.75 | 1.744 | 1.81 | 1.88 |
| Net investment income | 3.37 | 3.00 | 3.77 | 3.99 | 3.29 |
| Portfolio turnover (%) | 52 | 59 | 81 | 120 | 71 |
| 1 | Based on average daily shares outstanding. |
| 2 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
| 3 | Does not reflect the effect of sales charges, if any. |
| 4 | Includes reimbursement of legal fees of 0.01%. |
| 50 | JOHN HANCOCK Floating Rate Income Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
| CLASS I SHARES Period ended | 8-31-22 | 8-31-21 | 8-31-20 | 8-31-19 | 8-31-18 |
| Per share operating performance | | | | | |
| Net asset value, beginning of period | $8.29 | $7.89 | $8.28 | $8.43 | $8.45 |
| Net investment income1 | 0.35 | 0.31 | 0.38 | 0.41 | 0.36 |
| Net realized and unrealized gain (loss) on investments | (0.50) | 0.35 | (0.36) | (0.15) | —2 |
| Total from investment operations | (0.15) | 0.66 | 0.02 | 0.26 | 0.36 |
| Less distributions | | | | | |
| From net investment income | (0.40) | (0.26) | (0.41) | (0.41) | (0.38) |
| Net asset value, end of period | $7.74 | $8.29 | $7.89 | $8.28 | $8.43 |
| Total return (%)3 | (1.83) | 8.52 | 0.34 | 3.19 | 4.31 |
| Ratios and supplemental data | | | | | |
| Net assets, end of period (in millions) | $454 | $252 | $49 | $66 | $152 |
| Ratios (as a percentage of average net assets): | | | | | |
| Expenses before reductions | 0.85 | 0.87 | 0.924 | 0.92 | 0.89 |
| Expenses including reductions | 0.78 | 0.77 | 0.764 | 0.83 | 0.88 |
| Net investment income | 4.42 | 3.84 | 4.72 | 4.94 | 4.29 |
| Portfolio turnover (%) | 52 | 59 | 81 | 120 | 71 |
| 1 | Based on average daily shares outstanding. |
| 2 | Less than $0.005 per share. |
| 3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
| 4 | Includes reimbursement of legal fees of 0.01%. |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK Floating Rate Income Fund | 51 |
| CLASS R6 SHARES Period ended | 8-31-22 | 8-31-21 | 8-31-20 | 8-31-19 | 8-31-18 |
| Per share operating performance | | | | | |
| Net asset value, beginning of period | $8.30 | $7.89 | $8.29 | $8.43 | $8.45 |
| Net investment income1 | 0.37 | 0.32 | 0.39 | 0.42 | 0.37 |
| Net realized and unrealized gain (loss) on investments | (0.51) | 0.36 | (0.37) | (0.14) | —2 |
| Total from investment operations | (0.14) | 0.68 | 0.02 | 0.28 | 0.37 |
| Less distributions | | | | | |
| From net investment income | (0.41) | (0.27) | (0.42) | (0.42) | (0.39) |
| Net asset value, end of period | $7.75 | $8.30 | $7.89 | $8.29 | $8.43 |
| Total return (%)3 | (1.71) | 8.77 | 0.33 | 3.44 | 4.41 |
| Ratios and supplemental data | | | | | |
| Net assets, end of period (in millions) | $505 | $342 | $2 | $3 | $6 |
| Ratios (as a percentage of average net assets): | | | | | |
| Expenses before reductions | 0.74 | 0.77 | 0.814 | 0.81 | 0.79 |
| Expenses including reductions | 0.66 | 0.66 | 0.654 | 0.71 | 0.78 |
| Net investment income | 4.57 | 3.93 | 4.88 | 5.06 | 4.45 |
| Portfolio turnover (%) | 52 | 59 | 81 | 120 | 71 |
| 1 | Based on average daily shares outstanding. |
| 2 | Less than $0.005 per share. |
| 3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
| 4 | Includes reimbursement of legal fees of 0.01%. |
| 52 | JOHN HANCOCK Floating Rate Income Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
| CLASS 1 SHARES Period ended | 8-31-22 | 8-31-21 | 8-31-20 | 8-31-19 | 8-31-18 |
| Per share operating performance | | | | | |
| Net asset value, beginning of period | $8.29 | $7.88 | $8.28 | $8.42 | $8.44 |
| Net investment income1 | 0.36 | 0.33 | 0.38 | 0.42 | 0.37 |
| Net realized and unrealized gain (loss) on investments | (0.50) | 0.35 | (0.36) | (0.14) | (0.01) |
| Total from investment operations | (0.14) | 0.68 | 0.02 | 0.28 | 0.36 |
| Less distributions | | | | | |
| From net investment income | (0.41) | (0.27) | (0.42) | (0.42) | (0.38) |
| Net asset value, end of period | $7.74 | $8.29 | $7.88 | $8.28 | $8.42 |
| Total return (%)2 | (1.76) | 8.74 | 0.29 | 3.39 | 4.37 |
| Ratios and supplemental data | | | | | |
| Net assets, end of period (in millions) | $16 | $15 | $16 | $27 | $30 |
| Ratios (as a percentage of average net assets): | | | | | |
| Expenses before reductions | 0.78 | 0.81 | 0.853 | 0.84 | 0.83 |
| Expenses including reductions | 0.70 | 0.70 | 0.693 | 0.75 | 0.82 |
| Net investment income | 4.46 | 4.04 | 4.82 | 5.07 | 4.36 |
| Portfolio turnover (%) | 52 | 59 | 81 | 120 | 71 |
| 1 | Based on average daily shares outstanding. |
| 2 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
| 3 | Includes reimbursement of legal fees of 0.01%. |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK Floating Rate Income Fund | 53 |
| CLASS NAV SHARES Period ended | 8-31-22 | 8-31-21 | 8-31-20 | 8-31-19 | 8-31-18 |
| Per share operating performance | | | | | |
| Net asset value, beginning of period | $8.30 | $7.89 | $8.29 | $8.44 | $8.45 |
| Net investment income1 | 0.36 | 0.33 | 0.38 | 0.42 | 0.37 |
| Net realized and unrealized gain (loss) on investments | (0.50) | 0.35 | (0.36) | (0.15) | 0.01 |
| Total from investment operations | (0.14) | 0.68 | 0.02 | 0.27 | 0.38 |
| Less distributions | | | | | |
| From net investment income | (0.41) | (0.27) | (0.42) | (0.42) | (0.39) |
| Net asset value, end of period | $7.75 | $8.30 | $7.89 | $8.29 | $8.44 |
| Total return (%)2 | (1.72) | 8.78 | 0.34 | 3.32 | 4.55 |
| Ratios and supplemental data | | | | | |
| Net assets, end of period (in millions) | $749 | $1,001 | $583 | $648 | $865 |
| Ratios (as a percentage of average net assets): | | | | | |
| Expenses before reductions | 0.73 | 0.76 | 0.803 | 0.79 | 0.78 |
| Expenses including reductions | 0.67 | 0.66 | 0.653 | 0.71 | 0.77 |
| Net investment income | 4.42 | 4.03 | 4.80 | 5.08 | 4.41 |
| Portfolio turnover (%) | 52 | 59 | 81 | 120 | 71 |
| 1 | Based on average daily shares outstanding. |
| 2 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
| 3 | Includes reimbursement of legal fees of 0.01%. |
| 54 | JOHN HANCOCK Floating Rate Income Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Notes to financial statements
Note 1—Organization
John Hancock Floating Rate Income Fund (the fund) is a series of John Hancock Funds II (the Trust), an open-end management investment company organized as a Massachusetts business trust and registered under the Investment Company Act of 1940, as amended (the 1940 Act). The investment objective of the fund is to seek a high level of current income.
The fund may offer multiple classes of shares. The shares currently outstanding are detailed in the Statement of assets and liabilities. Class A and Class C shares are offered to all investors. Class I shares are offered to institutions and certain investors. Class R6 shares are only available to certain retirement plans, institutions and other investors. Class 1 shares are offered only to certain affiliates of Manulife Financial Corporation. Class NAV shares are offered to John Hancock affiliated funds of funds, retirement plans for employees of John Hancock and/or Manulife Financial Corporation, and certain 529 plans. Class C shares convert to Class A shares eight years after purchase (certain exclusions may apply). Shareholders of each class have exclusive voting rights to matters that affect that class. The distribution and service fees, if any, and transfer agent fees for each class may differ.
Note 2—Significant accounting policies
The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (US GAAP), which require management to make certain estimates and assumptions as of the date of the financial statements. Actual results could differ from those estimates and those differences could be significant. The fund qualifies as an investment company under Topic 946 of Accounting Standards Codification of US GAAP.
Events or transactions occurring after the end of the fiscal period through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The following summarizes the significant accounting policies of the fund:
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: Debt obligations are typically valued based on evaluated prices provided by an independent pricing vendor. Independent pricing vendors utilize matrix pricing, which takes into account factors such as institutional-size trading in similar groups of securities, yield, quality, coupon rate, maturity, type of issue, trading characteristics and other market data, as well as broker supplied prices. 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. Forward foreign currency contracts are valued at the prevailing forward rates which are based on foreign currency exchange spot rates and forward points supplied by an independent pricing vendor. Foreign securities and currencies are valued in U.S. dollars based on foreign currency exchange rates supplied by an independent pricing vendor.
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
| | ANNUAL REPORT | JOHN HANCOCK Floating Rate Income Fund | 55 |
value of securities may differ significantly from the value that would have been used had a ready market for such securities existed. Trading in foreign securities may be completed before the scheduled daily close of trading on the NYSE. Significant events at the issuer or market level may affect the values of securities between the time when the valuation of the securities is generally determined and the close of the NYSE. If a significant event occurs, these securities may be fair valued, as determined in good faith by the fund’s Pricing Committee, following procedures established by the Board of Trustees. The fund uses fair value adjustment factors provided by an independent pricing vendor to value certain foreign securities in order to adjust for events that may occur between the close of foreign exchanges or markets and the close of the NYSE.
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.
The following is a summary of the values by input classification of the fund’s investments as of August 31, 2022, by major security category or type:
| | Total
value at
8-31-22 | Level 1
quoted
price | Level 2
significant
observable
inputs | Level 3
significant
unobservable
inputs |
| Investments in securities: | | | | |
| Assets | | | | |
| Term loans | $1,681,242,345 | — | $1,681,242,345 | — |
| Corporate bonds | 137,252,178 | — | 137,252,178 | — |
| Asset backed securities | 30,427,504 | — | 30,427,504 | — |
| Common stocks | 7,068,949 | — | 7,044,491 | $24,458 |
| Short-term investments | 6,838,815 | $6,838,815 | — | — |
| Total investments in securities | $1,862,829,791 | $6,838,815 | $1,855,966,518 | $24,458 |
| Derivatives: | | | | |
| Assets | | | | |
| Forward foreign currency contracts | $5,362,633 | — | $5,362,633 | — |
| Level 3 includes securities valued at $0. Refer to Fund’s investments. |
Term loans (Floating rate loans). The fund may invest in term loans, which are debt securities and are often rated below investment grade at the time of purchase. Term loans are generally subject to legal or contractual restrictions on resale and generally have longer settlement periods than conventional debt securities. Term loans involve special types of risk, including credit risk, interest-rate risk, counterparty risk, and risk associated with extended settlement. The liquidity of term loans, including the volume and frequency of secondary market trading in such loans, varies significantly over time and among individual loans. During periods of infrequent trading, valuing a term loan can be more difficult and buying and selling a term loan at an acceptable price can be more difficult and delayed, which could result in a loss.
The fund’s ability to receive payments of principal, interest and other amounts in connection with term loans will
| 56 | JOHN HANCOCK Floating Rate Income Fund | ANNUAL REPORT | |
depend primarily on the financial condition of the borrower. The fund’s failure to receive scheduled payments on a term loan due to a default, bankruptcy or other reason would adversely affect the fund’s income and would likely reduce the value of its assets. Transactions in loan investments typically take a significant amount of time (i.e., seven days or longer) to settle. This could pose a liquidity risk to the fund and, if the fund’s exposure to such investments is substantial, it could impair the fund’s ability to meet redemptions. Because term loans may not be rated by independent credit rating agencies, a decision to invest in a particular loan could depend exclusively on the subadvisor’s credit analysis of the borrower and/or term loan agents. There is greater risk that the fund may have limited rights to enforce the terms of an underlying loan than for other types of debt instruments.
At August 31, 2022, the fund had $6,038,100 in unfunded loan commitments outstanding.
Security transactions and related investment income. Investment security transactions are accounted for on a trade date plus one basis for daily NAV calculations. However, for financial reporting purposes, investment transactions are reported on trade date. Interest income is accrued as earned. Interest income includes coupon interest and amortization/accretion of premiums/discounts on debt securities. Debt obligations may be placed in a non-accrual status and related interest income may be reduced by stopping current accruals and writing off interest receivable when the collection of all or a portion of interest has become doubtful. Capital gain distributions from underlying funds are recorded on ex-date. Dividend income is recorded on ex-date, except for dividends of certain foreign securities where the dividend may not be known until after the ex-date. In those cases, dividend income, net of withholding taxes, is recorded when the fund becomes aware of the dividends. Non-cash dividends, if any, are recorded at the fair market value of the securities received. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds from litigation.
Securities lending. The fund may lend its securities to earn additional income. The fund receives collateral from the borrower in an amount not less than the market value of the loaned securities. The fund may invest its cash collateral in JHCT, an affiliate of the fund, which has a floating NAV and is registered with the Securities and Exchange Commission (SEC) as an investment company. JHCT is a prime money market fund and invests in short-term money market investments. The fund will receive the benefit of any gains and bear any losses generated by JHCT with respect to the cash collateral. Effective November 19, 2021, JHCT converted to a prime money market fund.
The fund has the right to recall loaned securities on demand. If a borrower fails to return loaned securities when due, then the lending agent is responsible and indemnifies the fund for the lent securities. The lending agent uses the collateral received from the borrower to purchase replacement securities of the same issue, type, class and series of the loaned securities. If the value of the collateral is less than the purchase cost of replacement securities, the lending agent is responsible for satisfying the shortfall but only to the extent that the shortfall is not due to any decrease in the value of JHCT.
Although the risk of loss on securities lent is mitigated by receiving collateral from the borrower and through lending agent indemnification, the fund could experience a delay in recovering securities or could experience a lower than expected return if the borrower fails to return the securities on a timely basis. During the existence of the loan, the fund will receive from the borrower amounts equivalent to any dividends, interest or other distributions on the loaned securities, as well as interest on such amounts. The fund receives compensation for lending its securities by retaining a portion of the return on the investment of the collateral and compensation from fees earned from borrowers of the securities. Securities lending income received by the fund is net of fees retained by the securities lending agent. Net income received from JHCT is a component of securities lending income as recorded on the Statement of operations.
Obligations to repay collateral received by the fund are shown on the Statement of assets and liabilities as Payable upon return of securities loaned and are secured by the loaned securities. As of August 31, 2022, the fund loaned securities valued at $6,668,671 and received $6,846,958 of cash collateral.
| | ANNUAL REPORT | JOHN HANCOCK Floating Rate Income Fund | 57 |
Foreign investing. Assets, including investments, and liabilities denominated in foreign currencies are translated into U.S. dollar values each day at the prevailing exchange rate. Purchases and sales of securities, income and expenses are translated into U.S. dollars at the prevailing exchange rate on the date of the transaction. The effect of changes in foreign currency exchange rates on the value of securities is reflected as a component of the realized and unrealized gains (losses) on investments. Foreign investments are subject to a decline in the value of a foreign currency versus the U.S. dollar, which reduces the dollar value of securities denominated in that currency.
Funds that invest internationally generally carry more risk than funds that invest strictly in U.S. securities. Risks can result from differences in economic and political conditions, regulations, market practices (including higher transaction costs), accounting standards and other factors.
Overdraft. The fund may have the ability to borrow from banks for temporary or emergency purposes, including meeting redemption requests that otherwise might require the untimely sale of securities. Pursuant to the fund’s custodian agreement, the custodian may loan money to the fund to make properly authorized payments. The fund is obligated to repay the custodian for any overdraft, including any related costs or expenses. The custodian may have a lien, security interest or security entitlement in any fund property that is not otherwise segregated or pledged, to the extent of any overdraft, and to the maximum extent permitted by law.
Line of credit. The fund and other affiliated funds have entered into a syndicated line of credit agreement with Citibank, N.A. as the administrative agent that enables them to participate in a $1 billion unsecured committed line of credit. Subject to the needs of all other affiliated funds, the fund can borrow up to an aggregate commitment amount of $400 million ($250 million is dedicated to the fund), subject to asset coverage and other limitations as specified in the agreement. A commitment fee payable at the end of each calendar quarter, based on the average daily unused portion of the line of credit, is charged to each participating fund based on a combination of fixed and asset-based allocations and is reflected in Line of credit fees on the Statement of operations. Commitment fees for the year ended August 31, 2022, were $447,313.
Expenses. Within the John Hancock group of funds complex, expenses that are directly attributable to an individual fund are allocated to such fund. Expenses that are not readily attributable to a specific fund are allocated among all funds in an equitable manner, taking into consideration, among other things, the nature and type of expense and the fund’s relative net assets. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.
Class allocations. Income, common expenses and realized and unrealized gains (losses) are determined at the fund level and allocated daily to each class of shares based on the net assets of the class. Class-specific expenses, such as distribution and service fees, if any, and transfer agent fees, for all classes, are charged daily at the class level based on the net assets of each class and the specific expense rates applicable to each class.
Federal income taxes. The fund intends to continue to qualify as a regulated investment company by complying with the applicable provisions of the Internal Revenue Code and will not be subject to federal income tax on taxable income that is distributed to shareholders. Therefore, no federal income tax provision is required.
For federal income tax purposes, as of August 31, 2022, the fund has a short-term capital loss carryforward of $50,178,945 and a long-term capital loss carryforward of $342,421,254 available to offset future net realized capital gains. These carryforwards do not expire.
As of August 31, 2022, the fund had no uncertain tax positions that would require financial statement recognition, derecognition or disclosure. The fund’s federal tax returns are subject to examination by the Internal Revenue Service for a period of three years.
Distribution of income and gains. Distributions to shareholders from net investment income and net realized gains, if any, are recorded on the ex-date. The fund generally declares dividends daily and pays them monthly. Capital gain distributions, if any, are typically distributed annually.
| 58 | JOHN HANCOCK Floating Rate Income Fund | ANNUAL REPORT | |
The tax character of distributions for the years ended August 31, 2022 and 2021 was as follows:
| | August 31, 2022 | August 31, 2021 |
| Ordinary income | $99,271,765 | $35,622,957 |
Distributions paid by the fund with respect to each class of shares are calculated in the same manner, at the same time and in the same amount, except for the effect of class level expenses that may be applied differently to each class. As of August 31, 2022, the components of distributable earnings on a tax basis consisted of $24,329,509 of undistributed ordinary income.
Such distributions and distributable earnings, on a tax basis, are determined in conformity with income tax regulations, which may differ from US GAAP. Distributions in excess of tax basis earnings and profits, if any, are reported in the fund’s financial statements as a return of capital.
Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Temporary book-tax differences, if any, will reverse in a subsequent period. Book-tax differences are primarily attributable to foreign currency transactions and derivative transactions.
Note 3—Derivative instruments
The fund may invest in derivatives in order to meet its investment objective. Derivatives include a variety of different instruments that may be traded in the over-the-counter (OTC) market, on a regulated exchange or through a clearing facility. The risks in using derivatives vary depending upon the structure of the instruments, including the use of leverage, optionality, the liquidity or lack of liquidity of the contract, the creditworthiness of the counterparty or clearing organization and the volatility of the position. Some derivatives involve risks that are potentially greater than the risks associated with investing directly in the referenced securities or other referenced underlying instrument. Specifically, the fund is exposed to the risk that the counterparty to an OTC derivatives contract will be unable or unwilling to make timely settlement payments or otherwise honor its obligations. OTC derivatives transactions typically can only be closed out with the other party to the transaction.
Derivatives which are typically traded through the OTC market are regulated by the Commodity Futures Trading Commission (the CFTC). Derivative counterparty risk is managed through an ongoing evaluation of the creditworthiness of all potential counterparties and, if applicable, designated clearing organizations. The fund attempts to reduce its exposure to counterparty risk for derivatives traded in the OTC market, whenever possible, by entering into an International Swaps and Derivatives Association (ISDA) Master Agreement with each of its OTC counterparties. The ISDA gives each party to the agreement the right to terminate all transactions traded under the agreement if there is certain deterioration in the credit quality or contractual default of the other party, as defined in the ISDA. Upon an event of default or a termination of the ISDA, the non-defaulting party has the right to close out all transactions and to net amounts owed.
As defined by the ISDA, the fund may have collateral agreements with certain counterparties to mitigate counterparty risk on OTC derivatives. Subject to established minimum levels, collateral for OTC transactions is generally determined based on the net aggregate unrealized gain or loss on contracts with a particular counterparty. Collateral pledged to the fund, if any, is held in a segregated account by a third-party agent or held by the custodian bank for the benefit of the fund and can be in the form of cash or debt securities issued by the U.S. government or related agencies; collateral posted by the fund, if any, for OTC transactions is held in a segregated account at the fund’s custodian and is noted in the accompanying Fund’s investments, or if cash is posted, on the Statement of assets and liabilities. The fund’s risk of loss due to counterparty risk is equal to the asset value of outstanding contracts offset by collateral received.
Certain derivatives are traded or cleared on an exchange or central clearinghouse. Exchange-traded or centrally-cleared transactions generally present less counterparty risk to a fund than OTC transactions. The exchange or clearinghouse stands between the fund and the broker to the contract and therefore, credit risk is generally limited to the failure of the exchange or clearinghouse and the clearing member.
| | ANNUAL REPORT | JOHN HANCOCK Floating Rate Income Fund | 59 |
Forward foreign currency contracts. A forward foreign currency contract is an agreement between two parties to buy and sell specific currencies at a price that is set on the date of the contract. The forward contract calls for delivery of the currencies on a future date that is specified in the contract. Forwards are typically traded OTC. Risks related to the use of forwards include the possible failure of counterparties to meet the terms of the forward agreement, the failure of the counterparties to timely post collateral if applicable, and the risk that currency movements will not favor the fund thereby reducing the fund’s total return, and the potential for losses in excess of the amounts recognized on the Statement of assets and liabilities.
The market value of a forward foreign currency contract fluctuates with changes in foreign currency exchange rates. Forward foreign currency contracts are marked-to-market daily and the change in value is recorded by the fund as an unrealized gain or loss. Realized gains or losses, equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed, are recorded upon delivery or receipt of the currency or settlement with the counterparty.
During the year ended August 31, 2022, the fund used forward foreign currency contracts to manage against anticipated currency exchange rate changes and to gain exposure to foreign currencies. The fund held forward foreign currency contracts with USD notional values ranging $142.8 million to $211.9 million, as measured at each quarter end.
Fair value of derivative instruments by risk category
The table below summarizes the fair value of derivatives held by the fund at August 31, 2022 by risk category:
| Risk | Statement of assets
and liabilities
location | Financial
instruments
location | Assets
derivatives
fair value | Liabilities
derivatives
fair value |
| Currency | Unrealized appreciation (depreciation) on forward foreign currency contracts | Forward foreign currency contracts | $5,362,633 | — |
For financial reporting purposes, the fund does not offset OTC derivative assets or liabilities that are subject to master netting arrangements, as defined by the ISDAs, in the Statement of assets and liabilities. In the event of default by the counterparty or a termination of the agreement, the ISDA allows an offset of amounts across the various transactions between the fund and the applicable counterparty.
Effect of derivative instruments on the Statement of operations
The table below summarizes the net realized gain (loss) included in the net increase (decrease) in net assets from operations, classified by derivative instrument and risk category, for the year ended August 31, 2022:
| | Statement of operations location - Net realized gain (loss) on: |
| Risk | Forward foreign
currency contracts |
| Currency | $26,707,494 |
The table below summarizes the net change in unrealized appreciation (depreciation) included in the net increase (decrease) in net assets from operations, classified by derivative instrument and risk category, for the year ended August 31, 2022:
| | Statement of operations location - Change in net unrealized appreciation (depreciation) of: |
| Risk | Forward foreign
currency contracts |
| Currency | $4,495,692 |
| 60 | JOHN HANCOCK Floating Rate Income Fund | ANNUAL REPORT | |
Note 4—Guarantees and indemnifications
Under the Trust’s organizational documents, its Officers and Trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust, including the fund. Additionally, in the normal course of business, the fund enters into contracts with service providers that contain general indemnification clauses. The fund’s maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the fund that have not yet occurred. The risk of material loss from such claims is considered remote.
Note 5—Fees and transactions with affiliates
John Hancock Investment Management LLC (the Advisor) serves as investment advisor for the fund. John Hancock Investment Management Distributors LLC (the Distributor), an affiliate of the Advisor, serves as principal underwriter of the fund. The Advisor and the Distributor are indirect, principally owned subsidiaries of John Hancock Life Insurance Company (U.S.A.), which in turn is a subsidiary of Manulife Financial Corporation.
Management fee. The fund has an investment management agreement with the Advisor under which the fund pays a daily management fee to the Advisor equivalent on an annual basis to the sum of: (a) 0.680% of the first $1.10 billion of the fund’s average daily net assets; (b) 0.630% of the next $1.90 billion of the fund’s average daily net assets; (c) 0.605% of the next $1.50 billion of the fund’s average daily net assets; (d) 0.590% of the next $1.50 billion of the fund’s average daily net assets and (e) 0.570% of the fund’s average daily net assets in excess of $6.00 billion. The Advisor has a subadvisory agreement with BCSF Advisors, LP (Bain Capital Credit) (Subadvisor). The fund is not responsible for payment of the subadvisory fees.
The Advisor has contractually agreed to waive a portion of its management fee and/or reimburse expenses for certain funds of the John Hancock group of funds complex, including the fund (the participating portfolios). This waiver is based upon aggregate net assets of all the participating portfolios. The amount of the reimbursement is calculated daily and allocated among all the participating portfolios in proportion to the daily net assets of each fund. During the year ended August 31, 2022, this waiver amounted to 0.01% of the fund’s average daily net assets. This arrangement expires on July 31, 2024, unless renewed by mutual agreement of the fund and the Advisor based upon a determination that this is appropriate under the circumstances at that time.
The Advisor has contractually agreed to reduce its management fee or, if necessary, make payment to the fund in an amount equal to the amount by which expenses of the fund exceed 0.66% of average net assets of the fund. For purposes of this agreement, “expenses of the fund” means all fund expenses, excluding 12b-1 fees, service fee, transfer agent fee, brokerage commissions, prime brokerage fees, interest expense, acquired fund fees, short dividend expense, litigation and indemnification expenses, taxes and other extraordinary expenses not incurred in the ordinary course of business, and all other class level expenses. This agreement expires on December 31, 2022, unless renewed by mutual agreement of the fund and the Advisor based upon a determination that this is appropriate under the circumstances at that time.
The Advisor has contractually agreed to reduce its management fee or, if necessary, make payment to the fund in an amount equal to the amount by which expenses of Class A, Class C, Class I, Class R6, Class 1 and Class NAV shares exceed 1.00%, 1.75%, 0.77%, 0.66%, 0.70% and 0.66%, respectively, of average net assets attributable to the applicable class. For purposes of this agreement, “expenses of Class A, Class C, Class I, Class R6, Class 1 and Class NAV shares” means all expenses of the fund attributable to the applicable class plus class specific expenses, excluding interest expense, acquired fund fees, brokerage commissions, prime brokerage fees, short dividend expense, litigation and indemnification expenses, taxes and other extraordinary expenses not incurred in the ordinary course of business. This agreement expires on December 31, 2022, unless renewed by mutual agreement of the fund and the Advisor based upon a determination that this is appropriate under the circumstances at that time.
| | ANNUAL REPORT | JOHN HANCOCK Floating Rate Income Fund | 61 |
For the year ended August 31, 2022, the expense reductions described above amounted to the following:
| Class | Expense reduction |
| Class A | $133,905 |
| Class C | 18,739 |
| Class I | 328,771 |
| Class R6 | 343,212 |
| Class | Expense reduction |
| Class 1 | $12,709 |
| Class NAV | 624,850 |
| Total | $1,462,186 |
Expenses waived or reimbursed in the current fiscal period are not subject to recapture in future fiscal periods.
The investment management fees, including the impact of the waivers and reimbursements as described above, incurred for the year ended August 31, 2022, were equivalent to a net annual effective rate of 0.58% of the fund’s average daily net assets.
Accounting and legal services. Pursuant to a service agreement, the fund reimburses the Advisor for all expenses associated with providing the administrative, financial, legal, compliance, accounting and recordkeeping services to the fund, including the preparation of all tax returns, periodic reports to shareholders and regulatory reports, among other services. These expenses are allocated to each share class based on its relative net assets at the time the expense was incurred. These accounting and legal services fees incurred, for the year ended August 31, 2022, amounted to an annual rate of 0.01% of the fund’s average daily net assets.
Distribution and service plans. The fund has a distribution agreement with the Distributor. The fund has adopted distribution and service plans for certain classes as detailed below pursuant to Rule 12b-1 under the 1940 Act, to pay the Distributor for services provided as the distributor of shares of the fund. The fund may pay up to the following contractual rates of distribution and service fees under these arrangements, expressed as an annual percentage of average daily net assets for each class of the fund’s shares:
| Class | Rule 12b-1 Fee |
| Class A | 0.25% |
| Class C | 1.00% |
| Class 1 | 0.05% |
Sales charges. Class A shares are assessed up-front sales charges, which resulted in payments to the Distributor amounting to $143,914 for the year ended August 31, 2022. Of this amount, $30,830 was retained and used for printing prospectuses, advertising, sales literature and other purposes and $113,084 was paid as sales commissions to broker-dealers.
Class A and Class C shares may be subject to contingent deferred sales charges (CDSCs). Certain Class A shares purchased, including those that are acquired through purchases of $250,000 or more, and redeemed within one year of purchase are subject to a 0.50% sales charge. Class C shares that are redeemed within one year of purchase are subject to a 1.00% CDSC. CDSCs are applied to the lesser of the current market value at the time of redemption or the original purchase cost of the shares being redeemed. Proceeds from CDSCs are used to compensate the Distributor for providing distribution-related services in connection with the sale of these shares. During the year ended August 31, 2022, CDSCs received by the Distributor amounted to $9,447 and $2,535 for Class A and Class C shares, respectively.
Transfer agent fees. The John Hancock group of funds has a complex-wide transfer agent agreement with John Hancock Signature Services, Inc. (Signature Services), an affiliate of the Advisor. The transfer agent fees paid to Signature Services are determined based on the cost to Signature Services (Signature Services Cost) of providing recordkeeping services. It also includes out-of-pocket expenses, including payments made to third-parties for recordkeeping services provided to their clients who invest in one or more John Hancock funds. In addition, Signature Services Cost may be reduced by certain fees that Signature Services receives in connection with retirement and small accounts. Signature Services Cost is calculated monthly and allocated, as applicable, to five
| 62 | JOHN HANCOCK Floating Rate Income Fund | ANNUAL REPORT | |
categories of share classes: Retail Share and Institutional Share Classes of Non-Municipal Bond Funds, Class R6 Shares, Retirement Share Classes and Municipal Bond Share Classes. Within each of these categories, the applicable costs are allocated to the affected John Hancock affiliated funds and/or classes, based on the relative average daily net assets.
Class level expenses. Class level expenses for the year ended August 31, 2022 were as follows:
| Class | Distribution and service fees | Transfer agent fees |
| Class A | $350,203 | $162,942 |
| Class C | 199,483 | 23,131 |
| Class I | — | 511,985 |
| Class R6 | — | 39,184 |
| Class 1 | 7,911 | — |
| Total | $557,597 | $737,242 |
Trustee expenses. The fund compensates each Trustee who is not an employee of the Advisor or its affiliates. The costs of paying Trustee compensation and expenses are allocated to the fund based on its net assets relative to other funds within the John Hancock group of funds complex.
Interfund lending program. Pursuant to an Exemptive Order issued by the SEC, the fund, along with certain other funds advised by the Advisor or its affiliates, may participate in an interfund lending program. This program provides an alternative credit facility allowing the fund to borrow from, or lend money to, other participating affiliated funds. At period end, no interfund loans were outstanding. Interest expense is included in Other expenses on the Statement of operations. The fund’s activity in this program during the period for which loans were outstanding was as follows:
Borrower
or Lender | Weighted Average
Loan Balance | Days
Outstanding | Weighted Average
Interest Rate | Interest Income
(Expense) |
| Borrower | $14,200,000 | 2 | 1.410% | $(1,112) |
Note 6—Fund share transactions
Transactions in fund shares for the years ended August 31, 2022 and 2021 were as follows:
| | Year Ended 8-31-22 | Year Ended 8-31-21 |
| | Shares | Amount | Shares | Amount |
| Class A shares | | | | |
| Sold | 10,434,447 | $84,749,925 | 6,859,380 | $56,094,739 |
| Distributions reinvested | 806,177 | 6,433,481 | 343,695 | 2,804,607 |
| Repurchased | (6,377,777) | (50,892,346) | (4,218,044) | (34,506,914) |
| Net increase | 4,862,847 | $40,291,060 | 2,985,031 | $24,392,432 |
| Class B shares | | | | |
| Sold | — | — | 45 | $354 |
| Distributions reinvested | — | — | 503 | 3,982 |
| Repurchased | — | — | (239,238) | (1,903,818) |
| Net decrease | — | — | (238,690) | $(1,899,482) |
| | ANNUAL REPORT | JOHN HANCOCK Floating Rate Income Fund | 63 |
| | Year Ended 8-31-22 | Year Ended 8-31-21 |
| | Shares | Amount | Shares | Amount |
| Class C shares | | | | |
| Sold | 980,306 | $7,931,110 | 370,023 | $3,065,141 |
| Distributions reinvested | 97,294 | 781,387 | 77,706 | 633,059 |
| Repurchased | (1,254,225) | (10,141,370) | (2,810,979) | (22,872,097) |
| Net decrease | (176,625) | $(1,428,873) | (2,363,250) | $(19,173,897) |
| Class I shares | | | | |
| Sold | 62,172,144 | $505,445,207 | 28,912,821 | $238,039,224 |
| Distributions reinvested | 2,720,474 | 21,648,456 | 380,816 | 3,126,902 |
| Repurchased | (36,607,154) | (287,313,849) | (5,081,504) | (41,389,729) |
| Net increase | 28,285,464 | $239,779,814 | 24,212,133 | $199,776,397 |
| Class R6 shares | | | | |
| Sold | 30,172,801 | $244,461,199 | 42,926,197 | $353,304,450 |
| Distributions reinvested | 2,770,898 | 22,067,012 | 418,380 | 3,464,169 |
| Repurchased | (8,915,038) | (70,409,551) | (2,348,101) | (19,008,996) |
| Net increase | 24,028,661 | $196,118,660 | 40,996,476 | $337,759,623 |
| Class 1 shares | | | | |
| Sold | 1,106,159 | $8,911,905 | 961,072 | $7,863,511 |
| Distributions reinvested | 100,198 | 800,303 | 62,794 | 511,178 |
| Repurchased | (979,229) | (7,911,628) | (1,224,731) | (9,968,715) |
| Net increase (decrease) | 227,128 | $1,800,580 | (200,865) | $(1,594,026) |
| Class NAV shares | | | | |
| Sold | 3,557,207 | $29,092,698 | 46,644,623 | $384,523,749 |
| Distributions reinvested | 5,822,481 | 46,730,483 | 3,020,730 | 24,702,509 |
| Repurchased | (33,440,597) | (262,932,276) | (2,882,076) | (23,127,026) |
| Net increase (decrease) | (24,060,909) | $(187,109,095) | 46,783,277 | $386,099,232 |
| Total net increase | 33,166,566 | $289,452,146 | 112,174,112 | $925,360,279 |
Affiliates of the fund owned 100% of shares of Class 1 and Class NAV on August 31, 2022. As of August 31, 2022, affiliates of the Subadvisor owned 21% of the fund (77% of Class R6). Such concentration of shareholders’ capital could have a material effect on the fund if such shareholders redeem from the fund.
On June 25, 2020, the Board of Trustees approved redesignations of certain share classes. As a result of the redesignations, Class B was terminated, and shareholders in this class became shareholders of the respective class identified below, with the same or lower total net expenses. The following amount is included in the amount repurchased of the terminated class and the amount sold of the redesignated class.
| Redesignation | Effective date | Amount | | | | | |
| Class B shares as Class A shares | October 14, 2020 | $1,780,295 | | | | | |
| 64 | JOHN HANCOCK Floating Rate Income Fund | ANNUAL REPORT | |
Note 7—Purchase and sale of securities
Purchases and sales of securities, other than short-term investments, amounted to $1,263,136,696 and $1,012,451,752, respectively, for the year ended August 31, 2022.
Note 8—Investment by affiliated funds
Certain investors in the fund are affiliated funds that are managed by the Advisor and its affiliates. The affiliated funds do not invest in the fund for the purpose of exercising management or control; however, this investment may represent a significant portion of the fund’s net assets. At August 31, 2022, funds within the John Hancock group of funds complex held 39.6% of the fund’s net assets. The following fund(s) had an affiliate ownership of 5% or more of the fund’s net assets:
| Fund | Affiliated Concentration |
| John Hancock Funds II Multimanager Lifestyle Balanced Portfolio | 14.7% |
| John Hancock Funds II Multimanager Lifestyle Growth Portfolio | 8.6% |
| John Hancock Funds II Multimanager Lifestyle Conservative Portfolio | 6.7% |
| John Hancock Funds II Multimanager Lifestyle Moderate Portfolio | 6.3% |
Note 9—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* | 684,333 | $19,438,612 | $72,615,862 | $(85,199,896) | $(8,561) | $(7,202) | $111,820 | $4,459 | $6,838,815 |
| * | Refer to the Securities lending note within Note 2 for details regarding this investment. |
Note 10—LIBOR discontinuation risk
LIBOR (London Interbank Offered Rate) is a measure of the average interest rate at which major global banks can borrow from one another. Following allegations of rate manipulation and concerns regarding its thin liquidity, in July 2017, the U.K. Financial Conduct Authority, which regulates LIBOR, announced that it will stop encouraging banks to provide the quotations needed to sustain LIBOR. As market participants transition away from LIBOR, LIBOR’s usefulness may deteriorate and these effects could be experienced until the permanent cessation of the majority of U.S. LIBOR rates in 2023. The transition process may lead to increased volatility and illiquidity in markets that currently rely on LIBOR to determine interest rates. LIBOR’s deterioration may adversely affect the liquidity and/or market value of securities that use LIBOR as a benchmark interest rate.
The ICE Benchmark Administration Limited, the administrator of LIBOR, ceased publishing certain LIBOR maturities, including some U.S. LIBOR maturities, on December 31, 2021, and is expected to cease publishing the remaining and most liquid U.S. LIBOR maturities on June 30, 2023. It is expected that market participants have or will transition to the use of alternative reference or benchmark rates prior to the applicable LIBOR publication cessation date. Additionally, although regulators have encouraged the development and adoption of alternative rates such as the Secured Overnight Financing Rate ("SOFR"), the future utilization of LIBOR or of any particular replacement rate remains uncertain.
| | ANNUAL REPORT | JOHN HANCOCK Floating Rate Income Fund | 65 |
The impact on the transition away from LIBOR referenced financial instruments remains uncertain. It is expected that market participants will adopt alternative rates such as SOFR or otherwise amend such financial instruments to include fallback provisions and other measures that contemplate the discontinuation of LIBOR. Uncertainty and risk remain regarding the willingness and ability of issuers and lenders to include alternative rates and revised provisions in new and existing contracts or instruments. To facilitate the transition of legacy derivatives contracts referencing LIBOR, the International Swaps and Derivatives Association, Inc. launched a protocol to incorporate fallback provisions. There are obstacles to converting certain longer term securities to a new benchmark or benchmarks and the effectiveness of one versus multiple alternative reference rates has not been determined. Certain proposed replacement rates, such as SOFR, are materially different from LIBOR, and will require changes to the applicable spreads. Furthermore, the risks associated with the conversion from LIBOR may be exacerbated if an orderly transition is not completed in a timely manner.
Note 11—Coronavirus (COVID-19) pandemic
The COVID-19 disease has resulted in significant disruptions to global business activity. A widespread health crisis such as a global pandemic could cause substantial market volatility, exchange-trading suspensions, and closures, which may lead to less liquidity in certain instruments, industries, sectors or the markets generally, and may ultimately affect fund performance.
Note 12—New accounting pronouncement
In March 2020, the Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU), ASU 2020-04, which provides optional, temporary relief with respect to the financial reporting of contracts subject to certain types of modifications due to the planned discontinuation of the LIBOR and other IBOR-based reference rates as of the end of 2021. The temporary relief provided by ASU 2020-04 is effective for certain reference rate-related contract modifications that occur during the period March 12, 2020 through December 31, 2022. Management expects that the adoption of the guidance will not have a material impact to the financial statements.
| 66 | JOHN HANCOCK Floating Rate Income Fund | ANNUAL REPORT | |
Report of Independent Registered Public Accounting Firm
To the Board of Trustees of John Hancock Funds II and Shareholders of John Hancock Floating Rate Income Fund
Opinion on the Financial Statements
We have audited the accompanying statement of assets and liabilities, including the fund’s investments, of John Hancock Floating Rate Income Fund (one of the funds constituting John Hancock Funds II, referred to hereafter as the "Fund") as of August 31, 2022, the related statement of operations for the year ended August 31, 2022, the statements of changes in net assets for each of the two years in the period ended August 31, 2022, including the related notes, and the financial highlights for each of the five years in the period ended August 31, 2022 (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of August 31, 2022, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended August 31, 2022 and the financial highlights for each of the five years in the period ended August 31, 2022 in conformity with accounting principles generally accepted in the United States of America.
Basis for Opinion
These financial statements are the responsibility of the Fund’s management. Our responsibility is to express an opinion on the Fund’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.
Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of August 31, 2022 by correspondence with the custodian, agent banks and brokers; when replies were not received from agent banks and brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.
/s/ PricewaterhouseCoopers LLP
Boston, Massachusetts
October 21, 2022
We have served as the auditor of one or more investment companies in the John Hancock group of funds since 1988.
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(Unaudited)
For federal income tax purposes, the following information is furnished with respect to the distributions of the fund, if any, paid during its taxable year ended August 31, 2022.
The fund reports the maximum amount allowable of its net taxable income as eligible for the corporate dividends-received deduction.
The fund reports the maximum amount allowable of its net taxable income as qualified dividend income as provided in the Jobs and Growth Tax Relief Reconciliation Act of 2003.
The fund reports the maximum amount allowable as Section 163(j) Interest Dividends.
The fund reports the maximum amount allowable of its Section 199A dividends as defined in Proposed Treasury Regulation §1.199A-3(d).
Eligible shareholders will be mailed a 2022 Form 1099-DIV in early 2023. This will reflect the tax character of all distributions paid in calendar year 2022.
Please consult a tax advisor regarding the tax consequences of your investment in the fund.
| 68 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT | |
EVALUATION OF ADVISORY AND SUBADVISORY AGREEMENTS BY THE BOARD OF TRUSTEES
This section describes the evaluation by the Board of Trustees (the Board) of John Hancock Funds II (the Trust) of the Advisory Agreement (the Advisory Agreement) with John Hancock Investment Management LLC (the Advisor) and the Subadvisory Agreement (the Subadvisory Agreement) with Bain Capital Credit (the Subadvisor), for John Hancock Floating Rate Income Fund (the fund). The Advisory Agreement and Subadvisory Agreement are collectively referred to as the Agreements. Prior to the June 21-23, 2022 videoconference1 meeting at which the Agreements were approved, the Board also discussed and considered information regarding the proposed continuation of the Agreements at a videoconference meeting held on May 24-25, 2022. The Trustees who are not “interested persons” of the Trust as defined by the Investment Company Act of 1940, as amended (the “1940 Act”) (the “Independent Trustees”) also met separately to evaluate and discuss the information presented, including with counsel to the Independent Trustees and a third-party consulting firm.
Approval of Advisory and Subadvisory Agreements
At videoconference meetings held on June 21-23, 2022, the Board, including the Trustees who are not parties to any Agreement or considered to be interested persons of the Trust under the 1940 Act, reapproved for an annual period the continuation of the Advisory Agreement between the Trust and the Advisor and the Subadvisory Agreement between the Advisor and the Subadvisor with respect to the fund.
In considering the Advisory Agreement and the Subadvisory Agreement, the Board received in advance of the meetings a variety of materials relating to the fund, the Advisor and the Subadvisor, including comparative performance, fee and expense information for a peer group of similar funds prepared by an independent third-party provider of fund data, performance information for an applicable benchmark index; and, with respect to the Subadvisor, comparative performance information for comparably managed accounts, as applicable, and other information provided by the Advisor and the Subadvisor regarding the nature, extent and quality of services provided by the Advisor and the Subadvisor under their respective Agreements, as well as information regarding the Advisor’s revenues and costs of providing services to the fund and any compensation paid to affiliates of the Advisor. At the meetings at which the renewal of the Advisory Agreement and Subadvisory Agreement are considered, particular focus is given to information concerning fund performance, comparability of fees and total expenses, and profitability. However, the Board notes that the evaluation process with respect to the Advisor and the Subadvisor is an ongoing one. In this regard, the Board also took into account discussions with management and information provided to the Board (including its various committees) at prior meetings with respect to the services provided by the Advisor and the Subadvisor to the fund, including quarterly performance reports prepared by management containing reviews of investment results and prior presentations from the Subadvisor with respect to the fund. The information received and considered by the Board in connection with the May and June meetings and throughout the year was both written and oral. The Board also considered the nature, quality, and extent of non-advisory services, if any, to be provided to the fund by the Advisor’s affiliates, including distribution services. The Board considered the Advisory Agreement and the Subadvisory Agreement separately in the course of its review. In doing so, the Board noted the respective roles of the Advisor and Subadvisor in providing services to the fund.
1On June 19, 2020, as a result of health and safety measures put in place to combat the global COVID-19 pandemic, the Securities and Exchange Commission issued an exemptive order (the “Order”) pursuant to Sections 6(c) and 38(a) of the Investment Company Act of 1940, as amended (the “1940 Act”), that temporarily exempts registered investment management companies from the in-person voting requirements under the 1940 Act, subject to certain requirements, including that votes taken pursuant to the Order are ratified at the next in-person meeting. The Board determined that reliance on the Order was necessary or appropriate due to the circumstances related to current or potential effects of COVID-19 and therefore, the Board’s May and June meetings were held via videoconference in reliance on the Order. This exemptive order supersedes, in part, a similar earlier exemptive order issued by the SEC.
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Throughout the process, the Board asked questions of and requested additional information from management. The Board is assisted by counsel for the Trust and the Independent Trustees are also separately assisted by independent legal counsel throughout the process. The Independent Trustees also received a memorandum from their independent legal counsel discussing the legal standards for their consideration of the proposed continuation of the Agreements and discussed the proposed continuation of the Agreements in private sessions with their independent legal counsel at which no representatives of management were present.
Approval of Advisory Agreement
In approving the Advisory Agreement with respect to the fund, the Board, including the Independent Trustees, considered a variety of factors, including those discussed below. The Board also considered other factors (including conditions and trends prevailing generally in the economy, the securities markets, and the industry) and did not treat any single factor as determinative, and each Trustee may have attributed different weights to different factors. The Board’s conclusions may be based in part on its consideration of the advisory and subadvisory arrangements in prior years and on the Board’s ongoing regular review of fund performance and operations throughout the year.
Nature, extent, and quality of services. Among the information received by the Board from the Advisor relating to the nature, extent, and quality of services provided to the fund, the Board reviewed information provided by the Advisor relating to its operations and personnel, descriptions of its organizational and management structure, and information regarding the Advisor’s compliance and regulatory history, including its Form ADV. The Board also noted that on a regular basis it receives and reviews information from the Trust’s Chief Compliance Officer (CCO) regarding the fund’s compliance policies and procedures established pursuant to Rule 38a-1 under the 1940 Act. The Board observed that the scope of services provided by the Advisor, and of the undertakings required of the Advisor in connection with those services, including maintaining and monitoring its own and the fund’s compliance programs, risk management programs, liquidity management programs and cybersecurity programs, had expanded over time as a result of regulatory, market and other developments. The Board considered that the Advisor is responsible for the management of the day-to-day operations of the fund, including, but not limited to, general supervision of and coordination of the services provided by the Subadvisor, and is also responsible for monitoring and reviewing the activities of the Subadvisor and other third-party service providers. The Board also considered the significant risks assumed by the Advisor in connection with the services provided to the fund including entrepreneurial risk in sponsoring new funds and ongoing risks including investment, operational, enterprise, litigation, regulatory and compliance risks with respect to all funds.
In considering the nature, extent, and quality of the services provided by the Advisor, the Trustees also took into account their knowledge of the Advisor’s management and the quality of the performance of the Advisor’s duties, through Board meetings, discussions and reports during the preceding year and through each Trustee’s experience as a Trustee of the Trust and of the other trusts in the John Hancock group of funds complex (the John Hancock Fund Complex).
In the course of their deliberations regarding the Advisory Agreement, the Board considered, among other things:
| (a) | the skills and competency with which the Advisor has in the past managed the Trust’s affairs and its subadvisory relationship, the Advisor’s oversight and monitoring of the Subadvisor’s investment performance and compliance programs, such as the Subadvisor’s compliance with fund policies and objectives, review of brokerage matters, including with respect to trade allocation and best execution and the Advisor’s timeliness in responding to performance issues; |
| (b) | the background, qualifications and skills of the Advisor’s personnel; |
| (c) | the Advisor’s compliance policies and procedures and its responsiveness to regulatory changes and fund industry developments; |
| 70 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT | |
| (d) | the Advisor’s administrative capabilities, including its ability to supervise the other service providers for the fund, as well as the Advisor’s oversight of any securities lending activity, its monitoring of class action litigation and collection of class action settlements on behalf of the fund, and bringing loss recovery actions on behalf of the fund; |
| (e) | the financial condition of the Advisor and whether it has the financial wherewithal to provide a high level and quality of services to the fund; |
| (f) | the Advisor’s initiatives intended to improve various aspects of the Trust’s operations and investor experience with the fund; and |
| (g) | the Advisor’s reputation and experience in serving as an investment advisor to the Trust and the benefit to shareholders of investing in funds that are part of a family of funds offering a variety of investments. |
The Board concluded that the Advisor may reasonably be expected to continue to provide a high quality of services under the Advisory Agreement with respect to the fund.
Investment performance. In considering the fund’s performance, the Board noted that it reviews at its regularly scheduled meetings information about the fund’s performance results. In connection with the consideration of the Advisory Agreement, the Board:
| (a) | reviewed information prepared by management regarding the fund’s performance; |
| (b) | considered the comparative performance of an applicable benchmark index; |
| (c) | considered the performance of comparable funds, if any, as included in the report prepared by an independent third-party provider of fund data; and |
| (d) | took into account the Advisor’s analysis of the fund’s performance and its plans and recommendations regarding the Trust’s subadvisory arrangements generally. |
The Board noted that while it found the data provided by the independent third-party generally useful it recognized its limitations, including in particular that the data may vary depending on the end date selected and the results of the performance comparisons may vary depending on the selection of the peer group. The Board noted that the fund outperformed its benchmark index for the three-year period and underperformed for the one-, five- and ten-year periods ended December 31, 2021. The Board also noted that the fund outperformed its peer group median for the one-, three-, five and ten-year periods ended December 31, 2021.The Board took into account management’s discussion of the fund’s performance, including its favorable performance relative to the peer group median for the one-, three-, five- and ten-year periods. The Board also took into account management’s discussion of the factors that contributed to the fund’s performance relative to the benchmark index for the one-, five- and ten-year periods. The Board also noted that the fund’s longer term performance in part reflects that of the previous subadvisor. The Board concluded that the fund’s performance has generally been in line with or outperformed the historical performance of comparable funds.
Fees and expenses. The Board reviewed comparative information prepared by an independent third-party provider of fund data, including, among other data, the fund’s contractual and net management fees (and subadvisory fees, to the extent available) and total expenses as compared to similarly situated investment companies deemed to be comparable to the fund in light of the nature, extent and quality of the management and advisory and subadvisory services provided by the Advisor and the Subadvisor. The Board considered the fund’s ranking within a smaller group of peer funds chosen by the independent third-party provider, as well as the fund’s ranking within a broader group of funds. In comparing the fund’s contractual and net management fees to those of comparable funds, the Board noted that such fees include both advisory and administrative costs. The Board noted that net management fees for the fund are lower than the peer group median and net total expenses for the fund are equal to the peer group median.
| | ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 71 |
The Board took into account management’s discussion of the fund’s expenses. The Board also noted recent actions taken to reduce the fund’s fees and expenses and that the fund’s lower fees and expenses were not fully reflected in the comparative information provided by the independent third-party. The Board also took into account management’s discussion with respect to the overall management fee, the fees of the Subadvisor, including the amount of the advisory fee retained by the Advisor after payment of the subadvisory fee, in each case in light of the services rendered for those amounts and the risks undertaken by the Advisor. The Board also noted that the Advisor pays the subadvisory fee, and that such fees are negotiated at arm’s length with respect to the Subadvisor. In addition, the Board took into account that management had agreed to implement an overall fee waiver across the complex, including the fund, which is discussed further below. The Board also noted actions taken over the past several years to reduce the fund’s operating expenses. The Board also noted that, in addition, the Advisor is currently waiving fees and/or reimbursing expenses with respect to the fund and that the fund has breakpoints in its contractual management fee schedule that reduces management fees as assets increase. The Board reviewed information provided by the Advisor concerning the investment advisory fee charged by the Advisor or one of its advisory affiliates to other clients (including other funds in the John Hancock Fund Complex) having similar investment mandates, if any. The Board considered any differences between the Advisor’s and Subadvisor’s services to the fund and the services they provide to other comparable clients or funds. The Board concluded that the advisory fee paid with respect to the fund is reasonable in light of the nature, extent and quality of the services provided to the fund under the Advisory Agreement.
Profitability/Indirect benefits. In considering the costs of the services to be provided and the profits to be realized by the Advisor and its affiliates from the Advisor’s relationship with the Trust, the Board:
| (a) | reviewed financial information of the Advisor; |
| (b) | reviewed and considered information presented by the Advisor regarding the net profitability to the Advisor and its affiliates with respect to the fund; |
| (c) | received and reviewed profitability information with respect to the John Hancock Fund Complex as a whole and with respect to the fund; |
| (d) | received information with respect to the Advisor’s allocation methodologies used in preparing the profitability data and considered that the Advisor hired an independent third-party consultant to provide an analysis of the Advisor’s allocation methodologies; |
| (e) | considered that the John Hancock insurance companies that are affiliates of the Advisor, as shareholders of the Trust directly or through their separate accounts, receive certain tax credits or deductions relating to foreign taxes paid and dividends received by certain funds of the Trust and noted that these tax benefits, which are not available to participants in qualified retirement plans under applicable income tax law, are reflected in the profitability information reviewed by the Board; |
| (f) | considered that the Advisor also provides administrative services to the fund on a cost basis pursuant to an administrative services agreement; |
| (g) | noted that affiliates of the Advisor provide transfer agency services and distribution services to the fund, and that the fund’s distributor also receives Rule 12b-1 payments to support distribution of the fund; |
| (h) | noted that the fund’s Subadvisor is an affiliate of the Advisor; |
| (i) | noted that the Advisor also derives reputational and other indirect benefits from providing advisory services to the fund; |
| (j) | noted that the subadvisory fee for the fund is paid by the Advisor; |
| 72 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT | |
| (k) | considered the Advisor’s ongoing costs and expenditures necessary to improve services, meet new regulatory and compliance requirements, and adapt to other challenges impacting the fund industry; and |
| (l) | considered that the Advisor should be entitled to earn a reasonable level of profits in exchange for the level of services it provides to the fund and the risks that it assumes as Advisor, including entrepreneurial, operational, reputational, litigation and regulatory risk. |
Based upon its review, the Board concluded that the level of profitability, if any, of the Advisor and its affiliates from their relationship with the fund was reasonable and not excessive.
Economies of scale. In considering the extent to which economies of scale would be realized as the fund grows and whether fee levels reflect these economies of scale for the benefit of fund shareholders, the Board:
| (a) | considered that the Advisor has contractually agreed to waive a portion of its management fee for certain funds of the John Hancock Fund Complex, including the fund (the participating portfolios) or otherwise reimburse the expenses of the participating portfolios (the reimbursement). This waiver is based upon aggregate net assets of all the participating portfolios. The amount of the reimbursement is calculated daily and allocated among all the participating portfolios in proportion to the daily net assets of each fund; |
| (b) | reviewed the fund’s advisory fee structure and concluded that: (i) the fund’s fee structure contains breakpoints at the subadvisory fee level and that such breakpoints are reflected as breakpoints in the advisory fees for the fund; and (ii) although economies of scale cannot be measured with precision, these arrangements permit shareholders of the fund to benefit from economies of scale if the fund grows. The Board also took into account management’s discussion of the fund’s advisory fee structure; and |
| (c) | the Board also considered the effect of the fund’s growth in size on its performance and fees. The Board also noted that if the fund’s assets increase over time, the fund may realize other economies of scale. |
Approval of Subadvisory Agreement
In making its determination with respect to approval of the Subadvisory Agreement, the Board reviewed:
| (1) | information relating to the Subadvisor’s business, including current subadvisory services to the Trust (and other funds in the John Hancock Fund Complex); |
| (2) | the historical and current performance of the fund and comparative performance information relating to an applicable benchmark index and comparable funds; |
| (3) | the subadvisory fee for the fund, including any breakpoints, and to the extent available, comparable fee information prepared by an independent third party provider of fund data; and |
| (4) | information relating to the nature and scope of any material relationships and their significance to the Trust’s Advisor and Subadvisor. |
Nature, extent, and quality of services. With respect to the services provided by the Subadvisor, the Board received information provided to the Board by the Subadvisor, including the Subadvisor’s Form ADV, as well as took into account information presented throughout the past year. The Board considered the Subadvisor’s current level of staffing and its overall resources, as well as received information relating to the Subadvisor’s compensation program. The Board reviewed the Subadvisor’s history and investment experience, as well as information regarding the qualifications, background, and responsibilities of the Subadvisor’s investment and compliance personnel who provide services to the fund. The Board also considered, among other things, the Subadvisor’s compliance program
| | ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 73 |
and any disciplinary history. The Board also considered the Subadvisor’s risk assessment and monitoring process. The Board reviewed the Subadvisor’s regulatory history, including whether it was involved in any regulatory actions or investigations as well as material litigation, and any settlements and amelioratory actions undertaken, as appropriate. The Board noted that the Advisor conducts regular, periodic reviews of the Subadvisor and its operations, including regarding investment processes and organizational and staffing matters. The Board also noted that the Trust’s CCO and his staff conduct regular, periodic compliance reviews with the Subadvisor and present reports to the Independent Trustees regarding the same, which includes evaluating the regulatory compliance systems of the Subadvisor and procedures reasonably designed to assure compliance with the federal securities laws. The Board also took into account the financial condition of the Subadvisor.
The Board considered the Subadvisor’s investment process and philosophy. The Board took into account that the Subadvisor’s responsibilities include the development and maintenance of an investment program for the fund that is consistent with the fund’s investment objective, the selection of investment securities and the placement of orders for the purchase and sale of such securities, as well as the implementation of compliance controls related to performance of these services. The Board also received information with respect to the Subadvisor’s brokerage policies and practices, including with respect to best execution and soft dollars.
Subadvisor compensation. In considering the cost of services to be provided by the Subadvisor and the profitability to the Subadvisor of its relationship with the fund, the Board noted that the fees under the Subadvisory Agreement are paid by the Advisor and not the fund.
The Board also relied on the ability of the Advisor to negotiate the Subadvisory Agreement with the Subadvisor, which is not affiliated with the Advisor, and the fees thereunder at arm’s length. As a result, the costs of the services to be provided and the profits to be realized by the Subadvisor from its relationship with the Trust were not a material factor in the Board’s consideration of the Subadvisory Agreement.
The Board also received information regarding the nature and scope (including their significance to the Advisor and its affiliates and to the Subadvisor) of any material relationships with respect to the Subadvisor, which include arrangements in which the Subadvisor or its affiliates provide advisory, distribution, or management services in connection with financial products sponsored by the Advisor or its affiliates, and may include other registered investment companies, a 529 education savings plan, managed separate accounts and exempt group annuity contracts sold to qualified plans. The Board also received information and took into account any other potential conflicts of interest the Advisor might have in connection with the Subadvisory Agreement.
In addition, the Board considered other potential indirect benefits that the Subadvisor and its affiliates may receive from the Subadvisor’s relationship with the fund, such as the opportunity to provide advisory services to additional funds in the John Hancock Fund Complex and reputational benefits.
Subadvisory fees. The Board considered that the fund pays an advisory fee to the Advisor and that, in turn, the Advisor pays a subadvisory fee to the Subadvisor. As noted above, the Board also considered the fund’s subadvisory fees as compared to similarly situated investment companies deemed to be comparable to the fund as included in the report prepared by the independent third party provider of fund data, to the extent available. The Board noted that the subadvisory fees for the fund are lower than the peer group median. The Board also took into account the subadvisory fees paid by the Advisor to the Subadvisor with respect to the fund and compared them to fees charged by the Subadvisor to manage other subadvised portfolios and portfolios not subject to regulation under the 1940 Act, as applicable.
Subadvisor performance. As noted above, the Board considered the fund’s performance as compared to the fund’s peer group median and the benchmark index and noted that the Board reviews information about the fund’s performance results at its regularly scheduled meetings. The Board noted the Advisor’s expertise and resources in monitoring the performance, investment style and risk-adjusted performance of the Subadvisor. The Board was mindful of the Advisor’s focus on the Subadvisor’s performance. The Board also noted the Subadvisor’s long-term performance record for similar accounts, as applicable.
| 74 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT | |
The Board’s decision to approve the Subadvisory Agreement was based on a number of determinations, including the following:
| (1) | the Subadvisor has extensive experience and demonstrated skills as a manager; |
| (2) | the performance of the fund has generally been in line with or outperformed the historical performance of comparable funds; |
| (3) | the subadvisory fee is reasonable in relation to the level and quality of services being provided under the Subadvisory Agreement; and |
| (4) | noted that the subadvisory fees are paid by the Advisor not the fund and that the subadvisory fee breakpoints are reflected as breakpoints in the advisory fees for the fund in order to permit shareholders to benefit from economies of scale if the fund grows. |
***
Based on the Board’s evaluation of all factors that the Board deemed to be material, including those factors described above, the Board, including the Independent Trustees, concluded that renewal of the Advisory Agreement and the Subadvisory Agreement would be in the best interest of the fund and its shareholders. Accordingly, the Board, and the Independent Trustees voting separately, approved the Advisory Agreement and Subadvisory Agreement for an additional one-year period.
| | ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 75 |
STATEMENT REGARDING LIQUIDITY RISK MANAGEMENT
Operation of the Liquidity Risk Management Program
This section describes the operation and effectiveness of the Liquidity Risk Management Program (LRMP) established in accordance with Rule 22e-4 under the Investment Company Act of 1940, as amended (the Liquidity Rule). The Board of Trustees (the Board) of each Fund in the John Hancock Group of Funds (each a Fund and collectively, the Funds) that is subject to the requirements of the Liquidity Rule has appointed John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (together, the Advisor) to serve as Administrator of the LRMP with respect to each of the Funds, including John Hancock Floating Rate Income Fund, subject to the oversight of the Board. In order to provide a mechanism and process to perform the functions necessary to administer the LRMP, the Advisor established the Liquidity Risk Management Committee (the Committee). The Fund’s subadvisor, BCSF Advisors, LP (“Bain Capital Credit”) (the Subadvisor) executes the day-to-day investment management and security-level activities of the Fund in accordance with the requirements of the LRMP, subject to the supervision of the Advisor and the Board.
The Committee receives monthly reports and holds quarterly meetings to: (1) review the day-to-day operations of the LRMP; (2) monitor current market and liquidity conditions; (3) review and approve month-end liquidity classifications; (4) monitor illiquid investment levels against the 15% limit on illiquid investments and established Highly Liquid Investment Minimums (HLIMs), if any; (5) review quarterly testing and determinations, as applicable; (6) review redemption-in-kind activities; and (7) review other LRMP related material. The Advisor also conducts daily, monthly, quarterly, and annual quantitative and qualitative assessments of each subadvisor to a Fund that is subject to the requirements of the Liquidity Rule and is a part of the LRMP to monitor investment performance issues, risks and trends. In addition, the Advisor may conduct ad-hoc reviews and meetings with subadvisors as issues and trends are identified, including potential liquidity issues. The Committee also monitors global events, such as the ongoing COVID-19 Coronavirus pandemic and amendments to the Office of Foreign Assets Control sanctioned company lists, that could impact the markets and liquidity of portfolio investments and their classifications.
The Committee provided the Board at a meeting held by videoconference on March 22-24, 2022 with a written report which addressed the Committee’s assessment of the adequacy and effectiveness of the implementation and operation of the LRMP and any material changes to the LRMP. The report, which covered the period January 1, 2021 through December 31, 2021, included an assessment of important aspects of the LRMP including, but not limited to: (1) Security-level liquidity classifications; (2) Fund-level liquidity risk assessment; (3) Reasonably Anticipated Trade Size (RATS) determination; (4) HLIM determination; (5) Compliance with the 15% limit on illiquid investments; (6) Operation of the Fund’s Redemption-In-Kind Procedures; and (7) Review of liquidity management facilities.
Additionally, the report included a discussion of notable changes and enhancements to the LRMP implemented during 2021 and key initiatives for 2022.
The report also covered material liquidity matters which occurred or were reported during this period applicable to the Fund, if any, and the Committee’s actions to address such matters.
The report stated, in relevant part, that during the period covered by the report:
| • | The Fund’s investment strategy remained appropriate for an open-end fund structure; |
| • | The Fund was able to meet requests for redemption without significant dilution of remaining shareholders’ interests in the Fund; |
| • | The Fund did not report any breaches of the 15% limit on illiquid investments that would require reporting to the Securities and Exchange Commission; |
| 76 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT | |
| • | The Chief Compliance Officer’s office, as a part of their annual Rule 38a-1 assessment of the Fund’s policies and procedures, reviewed the LRMP’s control environment and deemed it to be operating effectively and in compliance with the Board approved procedures. |
Adequacy and Effectiveness
Based on the review and assessment conducted by the Committee, the Committee has determined that the LRMP and its controls have been implemented and are operating in a manner that is adequately and effectively managing the liquidity risk of the Fund.
| | ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 77 |
This chart provides information about the Trustees and Officers who oversee your John Hancock fund. Officers elected by the Trustees manage the day-to-day operations of the fund and execute policies formulated by the Trustees.
| Independent Trustees | | |
Name, year of birth
Position(s) held with Trust
Principal occupation(s) and other
directorships during past 5 years | Trustee
of the
Trust
since1 | Number of John
Hancock funds
overseen by
Trustee |
| Hassell H. McClellan, Born: 1945 | 2005 | 192 |
| Trustee and Chairperson of the Board | | |
| Director/Trustee, Virtus Funds (2008-2020); Director, The Barnes Group (2010-2021); Associate Professor, The Wallace E. Carroll School of Management, Boston College (retired 2013). Trustee (since 2005) and Chairperson of the Board (since 2017) of various trusts within the John Hancock Fund Complex. |
| James R. Boyle, Born: 1959 | 2015 | 192 |
| Trustee | | |
| Foresters Financial, Chief Executive Officer (2018–2022) and board member (2017–2022). Manulife Financial and John Hancock, more than 20 years, retiring in 2012 as Chief Executive Officer, John Hancock and Senior Executive Vice President, Manulife Financial. Trustee of various trusts within the John Hancock Fund Complex (2005–2014 and since 2015). |
| Peter S. Burgess,2 Born: 1942 | 2005 | 192 |
| Trustee | | |
| Consultant (financial, accounting, and auditing matters) (since 1999); Certified Public Accountant; Partner, Arthur Andersen (independent public accounting firm) (prior to 1999); Director, Lincoln Educational Services Corporation (2004-2021); Director, Symetra Financial Corporation (2010–2016); Director, PMA Capital Corporation (2004–2010). Trustee of various trusts within the John Hancock Fund Complex (since 2005). |
| William H. Cunningham,2 Born: 1944 | 2012 | 192 |
| Trustee | | |
| Professor, University of Texas, Austin, Texas (since 1971); former Chancellor, University of Texas System and former President of the University of Texas, Austin, Texas; Director (since 2006), Lincoln National Corporation (insurance); Director, Southwest Airlines (since 2000). Trustee of various trusts within the John Hancock Fund Complex (since 1986). |
| Noni L. Ellison,* Born: 1971 | 2022 | 192 |
| Trustee | | |
| Senior Vice President, General Counsel & Corporate Secretary, Tractor Supply Company (rural lifestyle retailer) (since 2021); General Counsel, Chief Compliance Officer & Corporate Secretary, Carestream Dental, L.L.C.(2017–2021); Associate General Counsel & Assistant Corporate Secretary, W.W. Grainger, Inc. (global industrial supplier) (2015–2017); Board Member, Goodwill of North Georgia, 2018 (FY2019)–2020 (FY2021); Board Member, Howard University School of Law Board of Visitors (since 2021); Board Member, University of Chicago Law School Board of Visitors (since 2016); Board member, Children’s Healthcare of Atlanta Foundation Board (2021–present). |
| Grace K. Fey, Born: 1946 | 2008 | 192 |
| Trustee | | |
| Chief Executive Officer, Grace Fey Advisors (since 2007); Director and Executive Vice President, Frontier Capital Management Company (1988–2007); Director, Fiduciary Trust (since 2009). Trustee of various trusts within the John Hancock Fund Complex (since 2008). |
| 78 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT | |
| Independent Trustees (continued) | | |
Name, year of birth
Position(s) held with Trust
Principal occupation(s) and other
directorships during past 5 years | Trustee
of the
Trust
since1 | Number of John
Hancock funds
overseen by
Trustee |
| Dean C. Garfield,* Born: 1968 | 2022 | 192 |
| Trustee | | |
| Vice President, Netflix, Inc. (since 2019); President & Chief Executive Officer, Information Technology Industry Council (2009–2019); NYU School of Law Board of Trustees (since 2021); Member, U.S. Department of Transportation, Advisory Committee on Automation (since 2021); President of the United States Trade Advisory Council (2010–2018); Board Member, College for Every Student (2017–2021); Board Member, The Seed School of Washington, D.C. (2012–2017). |
| Deborah C. Jackson, Born: 1952 | 2012 | 192 |
| Trustee | | |
| President, Cambridge College, Cambridge, Massachusetts (since 2011); Board of Directors, Amwell Corporation (since 2020); Board of Directors, Massachusetts Women’s Forum (2018-2020); Board of Directors, National Association of Corporate Directors/New England (2015-2020); Chief Executive Officer, American Red Cross of Massachusetts Bay (2002–2011); Board of Directors of Eastern Bank Corporation (since 2001); Board of Directors of Eastern Bank Charitable Foundation (since 2001); Board of Directors of Boston Stock Exchange (2002–2008); Board of Directors of Harvard Pilgrim Healthcare (health benefits company) (2007–2011). Trustee of various trusts within the John Hancock Fund Complex (since 2008). |
| Patricia Lizarraga,2,* Born: 1966 | 2022 | 192 |
| Trustee | | |
| Founder, Chief Executive Officer, Hypatia Capital Group (advisory and asset management company) (since 2007); Independent Director, Audit Committee Chair, and Risk Committee Member, Credicorp, Ltd. (since 2017); Independent Director, Audit Committee Chair, Banco De Credito Del Peru (since 2017); Trustee, Museum of Art of Lima (since 2009). |
| Steven R. Pruchansky, Born: 1944 | 2012 | 192 |
| Trustee and Vice Chairperson of the Board | | |
| Managing Director, Pru Realty (since 2017); Chairman and Chief Executive Officer, Greenscapes of Southwest Florida, Inc. (2014-2020); Director and President, Greenscapes of Southwest Florida, Inc. (until 2000); Member, Board of Advisors, First American Bank (until 2010); Managing Director, Jon James, LLC (real estate) (since 2000); Partner, Right Funding, LLC (2014-2017); Director, First Signature Bank & Trust Company (until 1991); Director, Mast Realty Trust (until 1994); President, Maxwell Building Corp. (until 1991). Trustee (since 1992), Chairperson of the Board (2011–2012), and Vice Chairperson of the Board (since 2012) of various trusts within the John Hancock Fund Complex. |
| Frances G. Rathke,2 Born: 1960 | 2020 | 192 |
| Trustee | | |
| Director, Audit Committee Chair, Oatly Group AB (plant-based drink company) (since 2021); Director, Audit Committee Chair and Compensation Committee Member, Green Mountain Power Corporation (since 2016); Director, Treasurer and Finance & Audit Committee Chair, Flynn Center for Performing Arts (since 2016); Director and Audit Committee Chair, Planet Fitness (since 2016); Chief Financial Officer and Treasurer, Keurig Green Mountain, Inc. (2003-retired 2015). Trustee of various trusts within the John Hancock Fund Complex (since 2020). |
| | ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 79 |
| Independent Trustees (continued) | | |
Name, year of birth
Position(s) held with Trust
Principal occupation(s) and other
directorships during past 5 years | Trustee
of the
Trust
since1 | Number of John
Hancock funds
overseen by
Trustee |
| Gregory A. Russo, Born: 1949 | 2012 | 192 |
| Trustee | | |
| Director and Audit Committee Chairman (2012-2020), and Member, Audit Committee and Finance Committee (2011-2020), NCH Healthcare System, Inc. (holding company for multi-entity healthcare system); Director and Member (2012-2018), and Finance Committee Chairman (2014-2018), The Moorings, Inc. (nonprofit continuing care community); Global Vice Chairman, Risk & Regulatory Matters, KPMG LLP (KPMG) (2002–2006); Vice Chairman, Industrial Markets, KPMG (1998–2002). Trustee of various trusts within the John Hancock Fund Complex (since 2008). |
| Non-Independent Trustees3 | | |
Name, year of birth
Position(s) held with Trust
Principal occupation(s) and other
directorships during past 5 years | Trustee
of the
Trust
since1 | Number of John
Hancock funds
overseen by
Trustee |
| Andrew G. Arnott, Born: 1971 | 2017 | 192 |
| President and Non-Independent Trustee | | |
| Head of Wealth and Asset Management, United States and Europe, for John Hancock and Manulife (since 2018); Director and Executive Vice President, John Hancock Investment Management LLC (since 2005, including prior positions); Director and Executive Vice President, John Hancock Variable Trust Advisers LLC (since 2006, including prior positions); President, John Hancock Investment Management Distributors LLC (since 2004, including prior positions); President of various trusts within the John Hancock Fund Complex (since 2007, including prior positions). Trustee of various trusts within the John Hancock Fund Complex (since 2017). |
| Marianne Harrison, Born: 1963 | 2018 | 192 |
| Non-Independent Trustee | | |
| President and CEO, John Hancock (since 2017); President and CEO, Manulife Canadian Division (2013–2017); Member, Board of Directors, Boston Medical Center (since 2021); Member, Board of Directors, CAE Inc. (since 2019); Member, Board of Directors, MA Competitive Partnership Board (since 2018); Member, Board of Directors, American Council of Life Insurers (ACLI) (since 2018); Member, Board of Directors, Communitech, an industry-led innovation center that fosters technology companies in Canada (2017-2019); Member, Board of Directors, Manulife Assurance Canada (2015-2017); Board Member, St. Mary’s General Hospital Foundation (2014-2017); Member, Board of Directors, Manulife Bank of Canada (2013- 2017); Member, Standing Committee of the Canadian Life & Health Assurance Association (2013-2017); Member, Board of Directors, John Hancock USA, John Hancock Life & Health, John Hancock New York (2012–2013). Trustee of various trusts within the John Hancock Fund Complex (since 2018). |
| Paul Lorentz,† Born: 1968 | 2022 | 192 |
| Non-Independent Trustee | | |
| Global Head, Manulife Wealth and Asset Management (since 2017); General Manager, Manulife, Individual Wealth Management and Insurance (2013–2017); President, Manulife Investments (2010–2016). |
| 80 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT | |
| Principal officers who are not Trustees | |
Name, year of birth
Position(s) held with Trust
Principal occupation(s)
during past 5 years | Current
Position(s)
with the
Trust
since |
| Charles A. Rizzo, Born: 1957 | 2007 |
| Chief Financial Officer | |
| Vice President, John Hancock Financial Services (since 2008); Senior Vice President, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2008); Chief Financial Officer of various trusts within the John Hancock Fund Complex (since 2007). |
| Salvatore Schiavone, Born: 1965 | 2009 |
| Treasurer | |
| Assistant Vice President, John Hancock Financial Services (since 2007); Vice President, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2007); Treasurer of various trusts within the John Hancock Fund Complex (since 2007, including prior positions). |
| Christopher (Kit) Sechler, Born: 1973 | 2018 |
| Secretary and Chief Legal Officer | |
| Vice President and Deputy Chief Counsel, John Hancock Investment Management (since 2015); Assistant Vice President and Senior Counsel (2009–2015), John Hancock Investment Management; Assistant Secretary of John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2009); Chief Legal Officer and Secretary of various trusts within the John Hancock Fund Complex (since 2009, including prior positions). |
| Trevor Swanberg, Born: 1979 | 2020 |
| Chief Compliance Officer | |
| Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2020); Deputy Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (2019–2020); Assistant Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (2016–2019); Vice President, State Street Global Advisors (2015–2016); Chief Compliance Officer of various trusts within the John Hancock Fund Complex (since 2016, including prior positions). |
The business address for all Trustees and Officers is 200 Berkeley Street, Boston, Massachusetts 02116-5023.
The Statement of Additional Information of the fund includes additional information about members of the Board of Trustees of the Trust and is available without charge, upon request, by calling 800-225-5291.
| 1 | Each Trustee holds office until his or her successor is elected and qualified, or until the Trustee’s death, retirement, resignation, or removal. Mr. Boyle has served as Trustee at various times prior to the date listed in the table. |
| 2 | Member of the Audit Committee. |
| 3 | The Trustee is a Non-Independent Trustee due to current or former positions with the Advisor and certain affiliates. |
| * | Elected to serve as Independent Trustee effective as of September 9, 2022. |
| † | Elected to serve as Non-Independent Trustee effective as of September 9, 2022. |
| | ANNUAL REPORT | JOHN HANCOCK FLOATING RATE INCOME FUND | 81 |
Trustees
Hassell H. McClellan, Chairperson
Steven R. Pruchansky, Vice Chairperson
Andrew G. Arnott†
James R. Boyle
Peter S. Burgess*
William H. Cunningham*
Grace K. Fey
Noni L. Ellison^
Dean C. Garfield^
Marianne Harrison†
Deborah C. Jackson
Patricia Lizarraga*,^
Paul Lorentz‡
Frances G. Rathke*
Gregory A. Russo
Officers
Andrew G. Arnott
President
Charles A. Rizzo
Chief Financial Officer
Salvatore Schiavone
Treasurer
Christopher (Kit) Sechler
Secretary and Chief Legal Officer
Trevor Swanberg
Chief Compliance Officer
Investment advisor
John Hancock Investment Management LLC
Subadvisor
BCSF Advisors, LP (“Bain Capital Credit”)
Portfolio Managers
Andrew Carlino
Kim Harris
Nate Whittier
Principal distributor
John Hancock Investment Management Distributors LLC
Custodian
State Street Bank and Trust Company
Transfer agent
John Hancock Signature Services, Inc.
Legal counsel
K&L Gates LLP
Independent registered public accounting firm
PricewaterhouseCoopers LLP
† Non-Independent Trustee
* Member of the Audit Committee
^ Elected to serve as Independent Trustee effective as of September 9, 2022.
‡ Elected to serve as Non-Independent Trustee effective as of September 9, 2022.
The fund’s proxy voting policies and procedures, as well as the fund proxy voting record for the most recent twelve-month period ended June 30, are available free of charge on the Securities and Exchange Commission (SEC) website at sec.gov or on our website.
All of the fund’s holdings as of the end of the third month of every fiscal quarter are filed with the SEC on Form N-PORT within 60 days of the end of the fiscal quarter. The fund’s Form N-PORT filings are available on our website and the SEC’s website, sec.gov.
We make this information on your fund, as well as monthly portfolio holdings, and other fund details available on our website at jhinvestments.com or by calling 800-225-5291.
| You can also contact us: | | |
| 800-225-5291 | Regular mail: | Express mail: |
| jhinvestments.com | John Hancock Signature Services, Inc.
P.O. Box 219909
Kansas City, MO 64121-9909 | John Hancock Signature Services, Inc.
430 W 7th Street
Suite 219909
Kansas City, MO 64105-1407 |
| 82 | JOHN HANCOCK FLOATING RATE INCOME FUND | ANNUAL REPORT | |
John Hancock family of funds
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ALTERNATIVE FUNDS
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A fund’s investment objectives, risks, charges, and expenses should be considered carefully before investing. The prospectus contains this and other important information about the fund. To obtain a prospectus, contact your financial professional, call John Hancock Investment Management at 800-225-5291, or visit our website at jhinvestments.com. Please read the prospectus carefully before investing or sending money.
EXCHANGE-TRADED FUNDS
John Hancock Corporate Bond ETF
John Hancock Mortgage-Backed Securities ETF
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John Hancock Multifactor Consumer Staples ETF
John Hancock Multifactor Developed International ETF
John Hancock Multifactor Emerging Markets ETF
John Hancock Multifactor Energy ETF
John Hancock Multifactor Financials ETF
John Hancock Multifactor Healthcare ETF
John Hancock Multifactor Industrials ETF
John Hancock Multifactor Large Cap ETF
John Hancock Multifactor Materials ETF
John Hancock Multifactor Media and
Communications ETF
John Hancock Multifactor Mid Cap ETF
John Hancock Multifactor Small Cap ETF
John Hancock Multifactor Technology ETF
John Hancock Multifactor Utilities ETF
John Hancock Preferred Income ETF
John Hancock U.S. High Dividend ETF
ENVIRONMENTAL,SOCIAL, AND
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Balanced
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Investors Trust
Preferred Income
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Preferred Income III
Premium Dividend
Tax-Advantaged Dividend Income
Tax-Advantaged Global Shareholder Yield
John Hancock ETF shares are bought and sold at market price (not NAV), and are not individually redeemed from the fund. Brokerage commissions will reduce returns.
John Hancock ETFs are distributed by Foreside Fund Services, LLC, and are subadvised by Manulife Investment Management (US) LLC or Dimensional Fund Advisors LP. Foreside is not affiliated with John Hancock Investment Management Distributors LLC, Manulife Investment Management (US) LLC or Dimensional Fund Advisors LP.
Dimensional Fund Advisors LP receives compensation from John Hancock in connection with licensing rights to the John Hancock Dimensional indexes. Dimensional Fund Advisors LP does not sponsor, endorse, or sell, and makes no representation as to the advisability of investing in, John Hancock Multifactor ETFs.
A trusted brand
John Hancock Investment Management is a premier asset manager
with a heritage of financial stewardship dating back to 1862. Helping
our shareholders pursue their financial goals is at the core of everything
we do. It’s why we support the role of professional financial advice
and operate with the highest standards of conduct and integrity.
A better way to invest
We serve investors globally through a unique multimanager approach:
We search the world to find proven portfolio teams with specialized
expertise for every strategy we offer, then we apply robust investment
oversight to ensure they continue to meet our uncompromising
standards and serve the best interests of our shareholders.
Results for investors
Our unique approach to asset management enables us to provide
a diverse set of investments backed by some of the world’s best
managers, along with strong risk-adjusted returns across asset classes.
“A trusted brand” is based on a survey of 6,651 respondents conducted by Medallia between 3/18/20 and 5/13/20.
John Hancock Investment Management Distributors LLC, Member FINRA, SIPC
200 Berkeley Street, Boston, MA 02116-5010, 800-225-5291, jhinvestments.com
Manulife Investment Management, the Stylized M Design, and Manulife Investment Management & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and are used by its affiliates under license.
NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.
This report is for the information of the shareholders of John Hancock Floating Rate Income Fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by a prospectus.
10/2022
Annual report
John Hancock
Opportunistic Fixed Income Fund
Fixed income
August 31, 2022
A message to shareholders
Dear shareholder,
The bond market declined sharply for the 12 months ended August 31, 2022, as bond yields rose significantly. The catalyst was surging inflation; the 12-month U.S. inflation rate jumped to its highest level in more than 40 years, driven largely by rising food and energy prices. The U.S. Federal Reserve (Fed) responded with a number of short-term interest-rate increases. Bond market volatility also increased during the period, resulting primarily from Russia’s invasion of Ukraine in February and mixed global economic data.
While bond yields rose broadly for the period, short-term yields climbed the most in response to changing Fed policy. Sector performance was uniformly negative, with high-yield and investment-grade corporate bonds declining the most amid increased economic uncertainty stemming from the Fed’s rate hikes. Shorter-term sectors such as asset-backed securities and commercial mortgage-backed securities held up the best.
In these uncertain times, your financial professional can assist with positioning your portfolio so that it’s sufficiently diversified to help meet your long-term objectives and to withstand the inevitable bouts of market volatility along the way.
On behalf of everyone at John Hancock Investment Management, I’d like to take this opportunity to welcome new shareholders and thank existing shareholders for the continued trust you’ve placed in us.
Sincerely,
Andrew G. Arnott
Global Head of Retail,
Manulife Investment Management
President and CEO,
John Hancock Investment Management
Head of Wealth and Asset Management,
United States and Europe
This commentary reflects the CEO’s views as of this report’s period end and are subject to change at any time. Diversification does not guarantee investment returns and does not eliminate risk of loss. All investments entail risks, including the possible loss of principal. For more up-to-date information, you can visit our website at jhinvestments.com.
John Hancock
Opportunistic Fixed Income Fund
| | ANNUAL REPORT | JOHN HANCOCK OPPORTUNISTIC FIXED INCOME FUND | 1 |
INVESTMENT OBJECTIVE
The fund seeks maximum total return, consistent with preservation of capital and prudent investment management.
AVERAGE ANNUAL TOTAL RETURNS AS OF 8/31/2022 (%)
The Bloomberg Global Aggregate Bond USD Hedged Index tracks the performance of global investment-grade debt in fixed-rate treasury, government-related, corporate, and securitized bond markets. Currency exposure is hedged to the U.S. dollar (USD).
It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.
The fund’s Morningstar category average is a group of funds with similar investment objectives and strategies and is the equal-weighted return of all funds per category. Morningstar places funds in certain categories based on their historical portfolio holdings. Figures from Morningstar, Inc. include reinvested distributions and do not take into account sales charges. Actual load-adjusted performance is lower.
1Class A shares were first offered on 6-4-21. Returns prior to this date are those of Class 1 shares and have not been adjusted for class-specific expenses; otherwise, returns would vary.
The past performance shown here reflects reinvested distributions and the beneficial effect of any expense reductions, and does not guarantee future results. Performance of the other share classes will vary based on the difference in the fees and expenses of those classes. Shares will fluctuate in value and, when redeemed, may be worth more or less than their original cost. Current month-end performance may be lower or higher than the performance cited, and can be found at jhinvestments.com or by calling 800-225-5291. For further information on the fund’s objectives, risks, and strategy, see the fund’s prospectus.
| 2 | JOHN HANCOCK OPPORTUNISTIC FIXED INCOME FUND | ANNUAL REPORT | |
PERFORMANCE HIGHLIGHTS OVER THE LAST TWELVE MONTHS
Challenging market conditions for fixed income
Fixed-income securities struggled this period, reflecting concerns about inflation pressures, higher interest rates, and potential economic weakness in Europe.
The fund underperformed its benchmark, the Bloomberg Global Aggregate Bond USD Hedged Index
The fund saw relative underperformance in several investment categories, especially emerging-market debt, which struggled amid Russia’s invasion of Ukraine, tighter Fed monetary policy, and worries about the global economy.
Pursuing tactical opportunities
The fund embraced opportunities to invest in securities seen as priced attractively enough to compensate for concern about market volatility.
PORTFOLIO COMPOSITION AS OF 8/31/2022 (% of net assets)
| | ANNUAL REPORT | JOHN HANCOCK OPPORTUNISTIC FIXED INCOME FUND | 3 |
QUALITY COMPOSITION AS OF 8/31/2022 (% of net assets)
Ratings are from Moody’s Investors Service, Inc. If not available, we have used S&P Global Ratings. In the absence of ratings from these agencies, we have used Fitch Ratings, Inc. “Not rated” securities are those with no ratings available from these agencies. All ratings are as of 8-31-22 and do not reflect subsequent downgrades or upgrades, if any.
Notes about risk
The fund is subject to various risks as described in the fund’s prospectus. Political tensions and armed conflicts, including the Russian invasion of Ukraine, and any resulting economic sanctions on entities and/or individuals of a particular country could lead such a country into an economic recession. The COVID-19 disease has resulted in significant disruptions to global business activity. A widespread health crisis such as a global pandemic could cause substantial market volatility, exchange-trading suspensions, and closures, which may lead to less liquidity in certain instruments, industries, sectors, or the markets, generally, and may ultimately affect fund performance. For more information, please refer to the “Principal risks” section of the prospectus.
| 4 | JOHN HANCOCK OPPORTUNISTIC FIXED INCOME FUND | ANNUAL REPORT | |
Management’s discussion of fund performance
What trends influenced global fixed-income markets for the 12 months ended August 31, 2022?
Nongovernment bonds outperformed their government counterparts, as investors grew more concerned that tighter monetary policy could lead to a global recession. In 2022, the fixed-income asset class saw its worst-ever start to a year. Yields on government debt moved sharply higher as central banks shifted to a more hawkish stance to combat high inflation. Inflation pressures, led by food, shelter, and energy prices, remained acute, even as commodity prices declined late this period. After the West sanctioned Russia for invading Ukraine, Russia retaliated by restricting gas supplies to parts of Europe, which raised concern about Europe’s energy security and economic resilience. The U.S. labor market remained strong, while surging mortgage rates tested the housing market’s resilience.
In this environment, how did the fund perform?
The fund trailed its benchmark. The fund focuses on noncore sectors of global fixed-income markets and invests according to several themes. Within the fund’s strategic sector theme, the main performance challenge came from investments in emerging-market debt. These securities lagged amid the Russian invasion of Ukraine, tighter U.S. Federal Reserve (Fed) monetary policy, and concern about global growth. Exposure to corporate credit also detracted, as credit spreads widened and investor concern about corporate profitability grew.
COUNTRY COMPOSITION
AS OF 8/31/2022 (% of net assets) |
| United States | 38.1 |
| South Korea | 9.2 |
| Japan | 5.8 |
| Australia | 4.7 |
| New Zealand | 4.6 |
| Brazil | 3.9 |
| Cayman Islands | 3.1 |
| Mexico | 2.9 |
| Iceland | 2.6 |
| Peru | 2.2 |
| Other countries | 22.9 |
| TOTAL | 100.0 |
| | ANNUAL REPORT | JOHN HANCOCK OPPORTUNISTIC FIXED INCOME FUND | 5 |
Within the fund’s market-neutral theme, a short position in the U.S. dollar detracted from performance, as the Fed’s shift to tighter monetary policy propelled the dollar to a 20-year high. Within the fund’s tactical sector theme, the fund’s exposure to higher duration (more interest-rate-sensitive) investments and emerging markets also detracted, given these categories’ underperformance.
The fund employed derivatives through credit default swaps, bond futures, and currency forwards. We implemented these positions because we saw them as an efficient, lower-transaction-cost approach to reposition the fund’s sector, country, and currency exposure. In all, these derivative positions contributed to performance this period.
How was the fund positioned at period end?
Although the fund wasn’t immune to significant market volatility this period, investments in many resilient areas of the fixed-income markets, such as structured credit and bank loans, provided some stability. During the period, we tactically rotated into areas of the market where we believed attractive pricing compensated shareholders for the elevated uncertainty about the path of the global economic cycle. We plan to continue this tactical approach as market dislocations arise.
The views expressed in this report are exclusively those of Brian M. Garvey and Brij S. Khurana, Wellington Management Company LLP, and are subject to change. They are not meant as investment advice. Please note that the holdings discussed in this report may not have been held by the fund for the entire period. Portfolio composition is subject to review in accordance with the fund’s investment strategy and may vary in the future. Current and future portfolio holdings are subject to risk.
| 6 | JOHN HANCOCK OPPORTUNISTIC FIXED INCOME FUND | ANNUAL REPORT | |
TOTAL RETURNS FOR THE PERIOD ENDED AUGUST 31, 2022
Average annual total returns (%)
with maximum sales charge | | Cumulative total returns (%)
with maximum sales charge | SEC 30-day
yield (%)
subsidized | SEC 30-day
yield (%)
unsubsidized† |
| | | 1-year | 5-year | 10-year | 5-year | 10-year | as of
8-31-22 | as of
8-31-22 |
| Class A1 | | -18.79 | -0.94 | 0.13 | -4.60 | 1.35 | 4.75 | 4.29 |
| Class C1 | | -15.99 | -0.09 | 0.56 | -0.44 | 5.77 | 4.21 | 3.76 |
| Class I1,2 | | -14.24 | 0.17 | 0.69 | 0.84 | 7.13 | 5.26 | 4.78 |
| Class R61,2 | | -14.16 | 0.20 | 0.71 | 1.01 | 7.31 | 5.40 | 4.96 |
| Class 12 | | -14.23 | 0.17 | 0.69 | 0.86 | 7.15 | 5.33 | 4.85 |
| Index 1†† | | -9.99 | 0.88 | 2.06 | 4.50 | 22.62 | — | — |
| Index 2†† | | -17.61 | -1.46 | -0.28 | -7.09 | -2.80 | — | — |
Performance figures assume all distributions have been reinvested. Figures reflect maximum sales charges on Class A shares of 5% and the applicable contingent deferred sales charge (CDSC) on Class C shares. Class C shares sold within one year of purchase are subject to a 1% CDSC. Sales charges are not applicable to Class I, Class R6 and Class 1 shares.
The expense ratios of the fund, both net (including any fee waivers and/or expense limitations) and gross (excluding any fee waivers and/or expense limitations), are set forth according to the most recent publicly available prospectuses for the fund and may differ from those disclosed in the Financial highlights tables in this report. Net expenses reflect contractual fee waivers and expense limitations in effect until December 31, 2022 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
| | Class A | Class C | Class I | Class R6 | Class 1 |
| Gross (%) | 1.69 | 2.44 | 1.44 | 1.34 | 1.38 |
| Net (%) | 1.19 | 1.94 | 0.94 | 0.84 | 0.88 |
Please refer to the most recent prospectus and annual or semiannual report for more information on expenses and any expense limitation arrangements for each class.
The returns reflect past results and should not be considered indicative of future performance. The return and principal value of an investment will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Due to market volatility and other factors, the fund’s current performance may be higher or lower than the performance shown. For current to the most recent month-end performance data, please call 800–225–5291 or visit the fund’s website at jhinvestments.com.
The performance table above and the chart on the next page do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The fund’s performance results reflect any applicable fee waivers or expense reductions, without which the expenses would increase and results would have been less favorable.
† Unsubsidized yield reflects what the yield would have been without the effect of reimbursements and waivers.
†† Index 1 is the Bloomberg Global Aggregate Bond USD Hedged Index; Index 2 is the Bloomberg Global Aggregate Bond Index.
See the following page for footnotes.
| | ANNUAL REPORT | JOHN HANCOCK OPPORTUNISTIC FIXED INCOME FUND | 7 |
This chart and table show what happened to a hypothetical $10,000 investment in John Hancock Opportunistic Fixed Income Fund for the share classes and periods indicated, assuming all distributions were reinvested. For comparison, we’ve shown the same investment in two separate indexes.
| | Start date | With maximum
sales charge ($) | Without
sales charge ($) | Index 1 ($) | Index 2 ($) |
| Class C1,3 | 8-31-12 | 10,577 | 10,577 | 12,262 | 9,720 |
| Class I1,2 | 8-31-12 | 10,713 | 10,713 | 12,262 | 9,720 |
| Class R61,2 | 8-31-12 | 10,731 | 10,731 | 12,262 | 9,720 |
| Class 12 | 8-31-12 | 10,715 | 10,715 | 12,262 | 9,720 |
The Bloomberg Global Aggregate Bond USD Hedged Index tracks the performance of global investment-grade debt in fixed-rate treasury, government-related, corporate, and securitized bond markets. Currency exposure is hedged to the U.S. dollar (USD).
The Bloomberg Global Aggregate Bond Index tracks the performance of global investment-grade debt in fixed-rate treasury, government-related, corporate, and securitized bond markets.
It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.
Footnotes related to performance pages
| 1 | Class A, Class C, Class I, and Class R6 shares were first offered on 6-4-21. Returns prior to this date are those of Class 1 shares that have not been adjusted for class-specific expenses; otherwise, returns would vary. |
| 2 | For certain types of investors, as described in the fund’s prospectuses. |
| 3 | The contingent deferred sales charge is not applicable. |
| 8 | JOHN HANCOCK OPPORTUNISTIC FIXED INCOME FUND | ANNUAL REPORT | |
These examples are intended to help you understand your ongoing operating expenses of investing in the fund so you can compare these costs with the ongoing costs of investing in other mutual funds.
Understanding fund expenses
As a shareholder of the fund, you incur two types of costs:
■Transaction costs, which include sales charges (loads) on purchases or redemptions (varies by share class), minimum account fee charge, etc.
■Ongoing operating expenses, including management fees, distribution and service fees (if applicable), and other fund expenses.
We are presenting only your ongoing operating expenses here.
Actual expenses/actual returns
The first line of each share class in the table on the following page is intended to provide information about the fund’s actual ongoing operating expenses, and is based on the fund’s actual return. It assumes an account value of $1,000.00 on March 1, 2022, with the same investment held until August 31, 2022.
Together with the value of your account, you may use this information to estimate the operating expenses that you paid over the period. Simply divide your account value at August 31, 2022, by $1,000.00, then multiply it by the “expenses paid” for your share class from the table. For example, for an account value of $8,600.00, the operating expenses should be calculated as follows:
Hypothetical example for comparison purposes
The second line of each share class in the table on the following page allows you to compare the fund’s ongoing operating expenses with those of any other fund. It provides an example of the fund’s hypothetical account values and hypothetical expenses based on each class’s actual expense ratio and an assumed 5% annualized return before expenses (which is not the class’s actual return). It assumes an account value of $1,000.00 on March 1, 2022, with the same investment held until August 31, 2022. Look in any other fund shareholder report
| | ANNUAL REPORT | JOHN HANCOCK OPPORTUNISTIC FIXED INCOME FUND | 9 |
to find its hypothetical example and you will be able to compare these expenses. Please remember that these hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period.
Remember, these examples do not include any transaction costs, therefore, these examples will not help you to determine the relative total costs of owning different funds. If transaction costs were included, your expenses would have been higher. See the prospectuses for details regarding transaction costs.
SHAREHOLDER EXPENSE EXAMPLE CHART
| | | Account
value on
3-1-2022 | Ending
value on
8-31-2022 | Expenses
paid during
period ended
8-31-20221 | Annualized
expense
ratio |
| Class A | Actual expenses/actual returns | $1,000.00 | $925.10 | $5.68 | 1.17% |
| | Hypothetical example | 1,000.00 | 1,019.30 | 5.95 | 1.17% |
| Class C | Actual expenses/actual returns | 1,000.00 | 921.70 | 9.30 | 1.92% |
| | Hypothetical example | 1,000.00 | 1,015.50 | 9.75 | 1.92% |
| Class I | Actual expenses/actual returns | 1,000.00 | 927.00 | 4.47 | 0.92% |
| | Hypothetical example | 1,000.00 | 1,020.60 | 4.69 | 0.92% |
| Class R6 | Actual expenses/actual returns | 1,000.00 | 927.50 | 3.94 | 0.81% |
| | Hypothetical example | 1,000.00 | 1,021.10 | 4.13 | 0.81% |
| Class 1 | Actual expenses/actual returns | 1,000.00 | 927.30 | 4.13 | 0.85% |
| | Hypothetical example | 1,000.00 | 1,020.90 | 4.33 | 0.85% |
| 1 | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period). |
| 10 | JOHN HANCOCK OPPORTUNISTIC FIXED INCOME FUND | ANNUAL REPORT | |
AS OF 8-31-22
| | Rate (%) | Maturity date | | Par value^ | Value |
| U.S. Government and Agency obligations 1.5% | $1,657,224 |
| (Cost $1,772,704) | | | | | |
| U.S. Government 1.2% | | | | 1,287,068 |
| U.S. Treasury | | | | | |
| Treasury Inflation Protected Security | 0.125 | 02-15-52 | | 510,903 | 399,602 |
| Treasury Inflation Protected Security | 0.250 | 02-15-50 | | 1,105,949 | 887,466 |
| U.S. Government Agency 0.3% | | | | 370,156 |
Federal National Mortgage Association
30 Yr Pass Thru (A) | 3.000 | TBA | | 400,000 | 370,156 |
|
| Foreign government obligations 49.8% | | | | $56,497,498 |
| (Cost $70,261,793) | | | | | |
| Argentina 0.0% | | | | | 53,449 |
| Republic of Argentina | | | | | |
| Bond | 1.000 | 07-09-29 | | 7,467 | 1,732 |
| Bond (1.500% to 7-9-23, then 3.625% to 7-9-24, then 4.125% to 7-9-27, then 4.750% to 7-9-28, then 5.000% thereafter) | 1.500 | 07-09-35 | | 229,987 | 51,717 |
| Australia 4.5% | | | | | 5,162,959 |
| Commonwealth of Australia | | | | | |
| Bond | 0.250 | 11-21-32 | AUD | 3,280,000 | 2,124,156 |
| Bond | 1.750 | 06-21-51 | AUD | 1,350,000 | 590,878 |
| Inflation Linked Bond | 0.851 | 11-21-27 | AUD | 2,215,000 | 1,700,534 |
| Inflation Linked Bond | 1.468 | 08-21-40 | AUD | 990,000 | 747,391 |
| Benin 0.2% | | | | | 175,198 |
| Republic of Benin | | | | | |
| Bond | 4.950 | 01-22-35 | EUR | 240,000 | 175,198 |
| Brazil 3.9% | | | | | 4,373,516 |
| Federative Republic of Brazil | | | | | |
| Bond | 10.000 | 01-01-33 | BRL | 307,000 | 52,651 |
| Bond (B) | 12.776 | 01-01-24 | BRL | 2,624,000 | 428,528 |
| Note | 6.000 | 05-15-55 | BRL | 1,864,000 | 1,449,367 |
| Note | 10.000 | 01-01-25 | BRL | 3,425,000 | 642,859 |
| Note | 10.000 | 01-01-27 | BRL | 1,362,000 | 249,711 |
| Note | 10.000 | 01-01-29 | BRL | 8,699,000 | 1,550,400 |
| Bulgaria 0.4% | | | | | 474,759 |
| Republic of Bulgaria | | | | | |
| Bond | 1.375 | 09-23-50 | EUR | 750,000 | 474,759 |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK OPPORTUNISTIC FIXED INCOME FUND | 11 |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Chile 0.5% | | | | | $604,618 |
| Republic of Chile | | | | | |
| Bond | 0.830 | 07-02-31 | EUR | 100,000 | 79,772 |
| Bond | 3.100 | 05-07-41 | | 200,000 | 146,424 |
| Bond (C) | 4.700 | 09-01-30 | CLP | 165,000,000 | 166,427 |
| Bond | 5.000 | 03-01-35 | CLP | 140,000,000 | 138,508 |
| Bond | 6.000 | 01-01-43 | CLP | 70,000,000 | 73,487 |
| Colombia 1.5% | | | | | 1,698,061 |
| Republic of Colombia | | | | | |
| Bond | 3.875 | 03-22-26 | EUR | 145,000 | 140,565 |
| Bond | 3.875 | 02-15-61 | | 460,000 | 257,967 |
| Bond | 4.125 | 05-15-51 | | 200,000 | 118,370 |
| Bond | 6.125 | 01-18-41 | | 260,000 | 207,799 |
| Bond | 7.000 | 03-26-31 | COP | 466,600,000 | 77,755 |
| Bond | 7.250 | 10-18-34 | COP | 740,500,000 | 116,542 |
| Bond | 7.500 | 08-26-26 | COP | 829,900,000 | 163,378 |
| Bond | 7.750 | 09-18-30 | COP | 1,423,200,000 | 252,490 |
| Bond | 9.250 | 05-28-42 | COP | 1,324,000,000 | 232,191 |
| Bond | 10.000 | 07-24-24 | COP | 591,100,000 | 131,004 |
| Czech Republic 0.5% | | | | | 520,881 |
| Czech Republic | | | | | |
| Bond | 0.950 | 05-15-30 | CZK | 5,090,000 | 156,129 |
| Bond | 1.500 | 04-24-40 | CZK | 630,000 | 15,901 |
| Bond | 1.750 | 06-23-32 | CZK | 1,930,000 | 60,262 |
| Bond | 2.000 | 10-13-33 | CZK | 2,250,000 | 70,802 |
| Bond | 2.500 | 08-25-28 | CZK | 4,180,000 | 149,392 |
| Bond | 6.000 | 02-26-26 | CZK | 1,640,000 | 68,395 |
| Egypt 0.3% | | | | | 336,520 |
| Arab Republic of Egypt | | | | | |
| Bond | 7.903 | 02-21-48 | | 560,000 | 336,520 |
| El Salvador 0.0% | | | | | 48,000 |
| Republic of El Salvador | | | | | |
| Bond | 7.125 | 01-20-50 | | 150,000 | 48,000 |
| Gabon 0.1% | | | | | 147,952 |
| Republic of Gabon | | | | | |
| Bond | 6.625 | 02-06-31 | | 200,000 | 147,952 |
| Greece 0.2% | | | | | 213,280 |
| Republic of Greece | | | | | |
| GDP-Linked Note (D) | 4.484* | 10-15-42 | EUR | 119,230,000 | 213,280 |
| Hungary 1.0% | | | | | 1,159,449 |
| Republic of Hungary | | | | | |
| Bond | 0.500 | 11-18-30 | EUR | 60,000 | 43,057 |
| Bond | 1.625 | 04-28-32 | EUR | 335,000 | 255,203 |
| 12 | JOHN HANCOCK OPPORTUNISTIC FIXED INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Hungary (continued) | | | | | |
| Bond | 1.750 | 06-05-35 | EUR | 555,000 | $395,126 |
| Bond | 2.250 | 04-20-33 | HUF | 21,460,000 | 30,245 |
| Bond | 3.000 | 08-21-30 | HUF | 32,730,000 | 55,069 |
| Bond | 3.000 | 10-27-38 | HUF | 28,110,000 | 36,634 |
| Bond | 3.125 | 09-21-51 | | 200,000 | 124,607 |
| Bond | 3.250 | 10-22-31 | HUF | 89,970,000 | 149,495 |
| Bond | 4.500 | 03-23-28 | HUF | 21,590,000 | 42,187 |
| Bond | 4.750 | 11-24-32 | HUF | 15,230,000 | 27,826 |
| Iceland 2.6% | | | | | 2,944,472 |
| The Republic of Iceland | | | | | |
| Bond | 5.000 | 11-15-28 | ISK | 431,960,000 | 2,944,472 |
| Indonesia 1.2% | | | | | 1,413,184 |
| Republic of Indonesia | | | | | |
| Bond | 1.400 | 10-30-31 | EUR | 670,000 | 534,563 |
| Bond | 6.375 | 04-15-32 | IDR | 2,664,000,000 | 170,145 |
| Bond | 6.500 | 06-15-25 | IDR | 748,000,000 | 50,770 |
| Bond | 7.000 | 05-15-27 | IDR | 2,377,000,000 | 161,734 |
| Bond | 7.125 | 06-15-42 | IDR | 1,071,000,000 | 72,254 |
| Bond | 7.500 | 08-15-32 | IDR | 2,995,000,000 | 206,789 |
| Bond | 7.500 | 06-15-35 | IDR | 612,000,000 | 42,470 |
| Bond | 7.500 | 05-15-38 | IDR | 1,861,000,000 | 127,754 |
| Bond | 7.500 | 04-15-40 | IDR | 675,000,000 | 46,705 |
| Japan 5.3% | | | | | 6,068,910 |
| Government of Japan | | | | | |
| CPI Linked Bond | 0.100 | 03-10-28 | JPY | 486,766,098 | 3,694,762 |
| CPI Linked Bond | 0.100 | 03-10-29 | JPY | 311,747,202 | 2,374,148 |
| Macedonia 0.3% | | | | | 304,081 |
| Republic of North Macedonia | | | | | |
| Bond | 1.625 | 03-10-28 | EUR | 200,000 | 162,499 |
| Bond | 2.750 | 01-18-25 | EUR | 150,000 | 141,582 |
| Malaysia 0.9% | | | | | 963,980 |
| Government of Malaysia | | | | | |
| Bond | 2.632 | 04-15-31 | MYR | 1,065,000 | 214,505 |
| Bond | 3.478 | 06-14-24 | MYR | 1,115,000 | 250,099 |
| Bond | 3.582 | 07-15-32 | MYR | 140,000 | 30,185 |
| Bond | 3.882 | 03-14-25 | MYR | 795,000 | 179,894 |
| Bond | 3.885 | 08-15-29 | MYR | 1,015,000 | 225,693 |
| Bond | 4.696 | 10-15-42 | MYR | 275,000 | 63,604 |
| Mexico 2.7% | | | | | 3,066,114 |
| Government of Mexico | | | | | |
| Bond | 1.450 | 10-25-33 | EUR | 135,000 | 96,900 |
| Bond | 2.125 | 10-25-51 | EUR | 300,000 | 173,958 |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK OPPORTUNISTIC FIXED INCOME FUND | 13 |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Mexico (continued) | | | | | |
| Bond | 2.750 | 11-27-31 | MXN | 32,521,132 | $1,437,716 |
| Bond | 3.375 | 02-23-31 | EUR | 105,000 | 97,576 |
| Bond | 3.625 | 04-09-29 | EUR | 145,000 | 142,389 |
| Bond | 5.500 | 03-04-27 | MXN | 1,033,400 | 44,432 |
| Bond | 5.750 | 03-05-26 | MXN | 1,645,400 | 73,152 |
| Bond | 7.750 | 05-29-31 | MXN | 4,930,200 | 224,998 |
| Bond | 7.750 | 11-13-42 | MXN | 1,754,100 | 76,654 |
| Bond | 8.000 | 11-07-47 | MXN | 4,687,200 | 208,847 |
| Bond | 8.000 | 07-31-53 | MXN | 1,044,600 | 48,628 |
| Bond | 8.500 | 05-31-29 | MXN | 5,010,100 | 241,760 |
| Bond | 8.500 | 11-18-38 | MXN | 2,903,400 | 137,247 |
| Bond | 10.000 | 11-20-36 | MXN | 1,151,600 | 61,857 |
| Morocco 0.5% | | | | | 528,232 |
| Kingdom of Morocco | | | | | |
| Bond | 1.500 | 11-27-31 | EUR | 620,000 | 450,214 |
| Bond | 2.000 | 09-30-30 | EUR | 100,000 | 78,018 |
| New Zealand 4.6% | | | | | 5,274,825 |
| Government of New Zealand | | | | | |
| Bond | 1.500 | 05-15-31 | NZD | 145,000 | 72,688 |
| Bond | 2.750 | 05-15-51 | NZD | 2,030,000 | 920,636 |
| Inflation Linked Bond | 2.887 | 09-20-40 | NZD | 755,000 | 536,953 |
| Inflation Linked Bond | 2.917 | 09-20-35 | NZD | 1,110,000 | 811,989 |
| Inflation Linked Bond | 3.555 | 09-20-30 | NZD | 3,735,000 | 2,932,559 |
| Panama 0.3% | | | | | 313,134 |
| Republic of Panama | | | | | |
| Bond | 4.500 | 04-16-50 | | 200,000 | 158,599 |
| Bond | 4.500 | 04-01-56 | | 200,000 | 154,535 |
| Peru 2.1% | | | | | 2,416,365 |
| Republic of Peru | | | | | |
| Bond | 1.250 | 03-11-33 | EUR | 205,000 | 152,111 |
| Bond | 1.950 | 11-17-36 | EUR | 215,000 | 153,814 |
| Bond | 3.750 | 03-01-30 | EUR | 100,000 | 99,860 |
| Bond | 5.400 | 08-12-34 | PEN | 385,000 | 79,314 |
| Bond | 6.150 | 08-12-32 | PEN | 1,960,000 | 444,087 |
| Bond | 6.350 | 08-12-28 | PEN | 1,225,000 | 298,803 |
| Bond | 6.900 | 08-12-37 | PEN | 265,000 | 61,033 |
| Bond | 6.950 | 08-12-31 | PEN | 4,220,000 | 1,029,658 |
| Bond | 8.200 | 08-12-26 | PEN | 360,000 | 97,685 |
| Philippines 0.2% | | | | | 231,108 |
| Republic of the Philippines | | | | | |
| Bond | 1.750 | 04-28-41 | EUR | 330,000 | 231,108 |
| 14 | JOHN HANCOCK OPPORTUNISTIC FIXED INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Poland 0.5% | | | | | $585,894 |
| Republic of Poland | | | | | |
| Bond | 1.750 | 04-25-32 | PLN | 1,090,000 | 159,140 |
| Bond | 2.750 | 10-25-29 | PLN | 295,000 | 49,943 |
| Bond | 3.250 | 07-25-25 | PLN | 730,000 | 141,057 |
| Bond | 3.750 | 05-25-27 | PLN | 1,260,000 | 235,754 |
| Romania 0.8% | | | | | 907,598 |
| Republic of Romania | | | | | |
| Bond | 2.000 | 01-28-32 | EUR | 115,000 | 79,365 |
| Bond | 2.124 | 07-16-31 | EUR | 110,000 | 78,402 |
| Bond | 2.500 | 02-08-30 | EUR | 110,000 | 86,762 |
| Bond (C) | 2.625 | 12-02-40 | EUR | 120,000 | 69,511 |
| Bond | 2.625 | 12-02-40 | EUR | 145,000 | 83,992 |
| Bond (C) | 2.750 | 04-14-41 | EUR | 360,000 | 208,777 |
| Bond | 3.650 | 09-24-31 | RON | 240,000 | 36,454 |
| Bond | 3.875 | 10-29-35 | EUR | 110,000 | 84,510 |
| Bond | 4.750 | 10-11-34 | RON | 365,000 | 57,117 |
| Bond | 5.800 | 07-26-27 | RON | 440,000 | 83,730 |
| Bond | 6.700 | 02-25-32 | RON | 205,000 | 38,978 |
| Russia 1.4% | | | | | 1,606,377 |
| Government of Russia | | | | | |
| Bond (E) | 5.900 | 03-12-31 | RUB | 256,290,000 | 1,029,361 |
| Bond (E) | 6.000 | 10-06-27 | RUB | 48,970,000 | 196,683 |
| Bond (E) | 6.900 | 05-23-29 | RUB | 71,950,000 | 288,980 |
| Bond (E) | 7.050 | 01-19-28 | RUB | 3,775,000 | 15,162 |
| Bond (E) | 7.650 | 04-10-30 | RUB | 18,970,000 | 76,191 |
| Saudi Arabia 0.4% | | | | | 416,913 |
| Kingdom of Saudi Arabia | | | | | |
| Bond (C) | 2.250 | 02-02-33 | | 486,000 | 416,913 |
| Serbia 0.5% | | | | | 558,423 |
| Republic of Serbia | | | | | |
| Bond | 1.500 | 06-26-29 | EUR | 280,000 | 201,550 |
| Bond | 1.650 | 03-03-33 | EUR | 230,000 | 140,865 |
| Bond | 2.050 | 09-23-36 | EUR | 375,000 | 216,008 |
| South Africa 1.1% | | | | | 1,212,463 |
| Republic of South Africa | | | | | |
| Bond | 6.250 | 03-31-36 | ZAR | 435,000 | 16,756 |
| Bond | 8.000 | 01-31-30 | ZAR | 3,845,000 | 195,927 |
| Bond | 8.250 | 03-31-32 | ZAR | 2,330,000 | 114,660 |
| Bond | 8.500 | 01-31-37 | ZAR | 4,760,000 | 222,540 |
| Bond | 8.750 | 01-31-44 | ZAR | 2,170,000 | 99,749 |
| Bond | 8.875 | 02-28-35 | ZAR | 8,690,000 | 429,000 |
| Bond | 9.000 | 01-31-40 | ZAR | 2,800,000 | 133,831 |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK OPPORTUNISTIC FIXED INCOME FUND | 15 |
| | Rate (%) | Maturity date | | Par value^ | Value |
| South Korea 9.2% | | | | | $10,453,225 |
| Republic of Korea | | | | | |
| Bond | 1.375 | 12-10-29 | KRW | 9,311,470,000 | 5,922,245 |
| Bond | 2.375 | 12-10-31 | KRW | 3,533,780,000 | 2,353,457 |
| Inflation Linked Bond | 1.125 | 06-10-30 | KRW | 2,672,336,779 | 1,915,424 |
| Inflation Linked Bond | 1.750 | 06-10-28 | KRW | 342,154,742 | 262,099 |
| Spain 1.0% | | | | | 1,096,677 |
| Kingdom of Spain | | | | | |
| Bond (C) | 1.000 | 10-31-50 | EUR | 1,820,000 | 1,096,677 |
| Thailand 0.7% | | | | | 744,876 |
| Kingdom of Thailand | | | | | |
| Bond | 1.000 | 06-17-27 | THB | 7,440,000 | 194,295 |
| Bond | 1.585 | 12-17-35 | THB | 7,850,000 | 180,306 |
| Bond | 1.600 | 12-17-29 | THB | 4,385,000 | 113,946 |
| Bond | 2.000 | 12-17-31 | THB | 7,945,000 | 209,261 |
| Bond | 2.000 | 06-17-42 | THB | 2,120,000 | 47,068 |
| United Kingdom 0.4% | | | | | 422,005 |
| United Kingdom of Great Britain | | | | | |
|
| Inflation-Linked Gilt | 0.500 | 03-22-50 | GBP | 286,706 | 422,005 |
| Corporate bonds 21.7% | | | | | $24,680,700 |
| (Cost $27,753,516) | | | | | |
| Australia 0.2% | | | | | 207,242 |
| FMG Resources Proprietary, Ltd. (C) | 5.875 | 04-15-30 | | 45,000 | 41,513 |
| Macquarie Group, Ltd. (5.491% to 11-9-32, then SOFR + 2.865%) (C) | 5.491 | 11-09-33 | | 170,000 | 165,729 |
| Austria 0.2% | | | | | 217,476 |
| Klabin Austria GmbH (C) | 7.000 | 04-03-49 | | 230,000 | 217,476 |
| Bermuda 0.1% | | | | | 85,864 |
| Athene Holding, Ltd. | 3.500 | 01-15-31 | | 100,000 | 85,864 |
| Brazil 0.1% | | | | | 83,100 |
| Vale Overseas, Ltd. | 6.875 | 11-10-39 | | 80,000 | 83,100 |
| Canada 0.3% | | | | | 382,606 |
| goeasy, Ltd. (C) | 4.375 | 05-01-26 | | 99,000 | 88,827 |
| The Bank of Nova Scotia (4.588% to 5-4-32, then 5 Year CMT + 2.050%) | 4.588 | 05-04-37 | | 325,000 | 293,779 |
| Chile 0.1% | | | | | 125,250 |
| VTR Comunicaciones SpA | 4.375 | 04-15-29 | | 200,000 | 125,250 |
| China 0.2% | | | | | 207,256 |
| CIFI Holdings Group Company, Ltd. | 4.375 | 04-12-27 | | 200,000 | 91,753 |
| 16 | JOHN HANCOCK OPPORTUNISTIC FIXED INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
| | Rate (%) | Maturity date | | Par value^ | Value |
| China (continued) | | | | | |
| Country Garden Holdings Company, Ltd. | 3.875 | 10-22-30 | | 210,000 | 90,300 |
| KWG Group Holdings, Ltd. | 6.000 | 08-14-26 | | 200,000 | 25,203 |
| Finland 0.0% | | | | | $10,106 |
| Nokia OYJ | 6.625 | 05-15-39 | | 10,000 | 10,106 |
| France 1.5% | | | | | 1,674,748 |
| BNP Paribas SA (2.871% to 4-19-31, then SOFR + 1.387%) (C) | 2.871 | 04-19-32 | | 200,000 | 162,073 |
| Credit Agricole Assurances SA | 2.000 | 07-17-30 | EUR | 100,000 | 82,969 |
| Societe Generale SA (2.889% to 6-9-31, then 1 Year CMT + 1.300%) (C) | 2.889 | 06-09-32 | | 200,000 | 156,724 |
| Societe Generale SA (4.027% to 1-21-42, then 1 Year CMT + 1.900%) (C) | 4.027 | 01-21-43 | | 200,000 | 137,617 |
| Societe Generale SA (6.221% to 6-15-32, then 1 Year CMT + 3.200%) (C) | 6.221 | 06-15-33 | | 600,000 | 570,672 |
| TotalEnergies SE (2.125% to 1-25-33, then 5 Year Euro Swap Rate + 2.513% to 1-25-53, then 5 Year Euro Swap Rate + 3.263%) (F) | 2.125 | 07-25-32 | EUR | 340,000 | 249,776 |
| Valeo | 1.000 | 08-03-28 | EUR | 400,000 | 314,917 |
| Germany 0.4% | | | | | 485,409 |
| Allianz SE (2.121% to 7-8-30, then 3 month EURIBOR + 3.280%) | 2.121 | 07-08-50 | EUR | 100,000 | 84,135 |
| Deutsche Bank AG (3.742% to 10-7-31, then SOFR + 2.257%) | 3.742 | 01-07-33 | | 200,000 | 142,099 |
| Deutsche Bank AG (5.625% to 5-19-26, then 5 Year Euro Swap Rate + 6.000%) | 5.625 | 05-19-31 | EUR | 100,000 | 99,404 |
| Hannover Rueck SE (1.750% to 7-8-30, then 3 month EURIBOR + 3.000%) | 1.750 | 10-08-40 | EUR | 100,000 | 82,026 |
| Muenchener Rueckversicherungs-Gesellschaft AG (1.250% to 5-26-31, then 3 month EURIBOR + 2.550%) | 1.250 | 05-26-41 | EUR | 100,000 | 77,745 |
| Ireland 0.1% | | | | | 121,055 |
| AerCap Ireland Capital DAC | 3.300 | 01-30-32 | | 150,000 | 121,055 |
| Italy 0.4% | | | | | 413,809 |
| Assicurazioni Generali SpA | 2.429 | 07-14-31 | EUR | 510,011 | 413,809 |
| Japan 0.4% | | | | | 474,123 |
| Nissan Motor Company, Ltd. (C) | 4.810 | 09-17-30 | | 200,000 | 179,051 |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK OPPORTUNISTIC FIXED INCOME FUND | 17 |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Japan (continued) | | | | | |
| Nomura Holdings, Inc. | 2.679 | 07-16-30 | | 200,000 | 163,123 |
| Rakuten Group, Inc. (4.250% to 4-22-27, then 5 Year Euro Swap Rate + 4.740%) (F) | 4.250 | 04-22-27 | EUR | 200,000 | 131,949 |
| Luxembourg 0.4% | | | | | $480,297 |
| Arena Luxembourg Finance Sarl | 1.875 | 02-01-28 | EUR | 100,000 | 76,937 |
| EIG Pearl Holdings Sarl | 4.387 | 11-30-46 | | 200,000 | 159,918 |
| Swiss Re Finance Luxembourg SA (2.534% to 4-30-30, then 1 Year EURIBOR ICE Swap Rate + 2.850%) | 2.534 | 04-30-50 | EUR | 200,000 | 172,472 |
| Trinseo Materials Operating SCA (C) | 5.125 | 04-01-29 | | 100,000 | 70,970 |
| Macau 0.2% | | | | | 189,000 |
| Wynn Macau, Ltd. (C) | 5.625 | 08-26-28 | | 270,000 | 189,000 |
| Malta 0.1% | | | | | 168,073 |
| VistaJet Malta Finance PLC (C) | 6.375 | 02-01-30 | | 130,000 | 111,800 |
| VistaJet Malta Finance PLC (C) | 7.875 | 05-01-27 | | 61,000 | 56,273 |
| Mexico 0.1% | | | | | 173,000 |
| Trust Fibra Uno | 4.869 | 01-15-30 | | 200,000 | 173,000 |
| Netherlands 0.9% | | | | | 1,021,604 |
| ABN AMRO Bank NV (3.324% to 3-13-32, then 5 Year CMT + 1.900%) (C) | 3.324 | 03-13-37 | | 200,000 | 155,502 |
| Achmea BV (2.500% to 6-24-29, then 5 Year Euro Swap Rate + 3.650%) | 2.500 | 09-24-39 | EUR | 100,000 | 81,198 |
| JAB Holdings BV (C) | 4.500 | 04-08-52 | | 250,000 | 183,364 |
| Prosus NV | 2.031 | 08-03-32 | EUR | 120,000 | 83,139 |
| Teva Pharmaceutical Finance Netherlands II BV | 4.375 | 05-09-30 | EUR | 350,000 | 287,629 |
| Upjohn Finance BV | 1.908 | 06-23-32 | EUR | 105,000 | 78,140 |
| Wintershall Dea Finance 2 BV (3.000% to 1-20-29, then 5 Year Euro Swap Rate + 3.319% to 1-20-34, then 5 Year Euro Swap Rate + 4.319%) (F) | 3.000 | 07-20-28 | EUR | 200,000 | 152,632 |
| Peru 0.0% | | | | | 24,094 |
| Southern Copper Corp. | 5.250 | 11-08-42 | | 25,000 | 24,094 |
| Spain 0.2% | | | | | 213,208 |
| Banco de Credito Social Cooperativo SA (1.750% to 3-9-27, then 1 Year Euro Swap Rate + 2.150%) | 1.750 | 03-09-28 | EUR | 100,000 | 78,537 |
| Telefonica Emisiones SA | 5.520 | 03-01-49 | | 150,000 | 134,671 |
| 18 | JOHN HANCOCK OPPORTUNISTIC FIXED INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Switzerland 0.6% | | | | | $687,505 |
| Credit Suisse Group AG (4.194% to 4-1-30, then SOFR + 3.730%) (C) | 4.194 | 04-01-31 | | 250,000 | 210,056 |
| Credit Suisse Group AG (6.537% to 8-12-32, then SOFR + 3.920%) (C) | 6.537 | 08-12-33 | | 500,000 | 477,449 |
| United Arab Emirates 0.1% | | | | | 85,516 |
| MDGH GMTN RSC, Ltd. | 1.000 | 03-10-34 | EUR | 105,000 | 85,516 |
| United Kingdom 1.2% | | | | | 1,309,980 |
| Anglo American Capital PLC (C) | 5.625 | 04-01-30 | | 400,000 | 398,223 |
| Barclays PLC (2.667% to 3-10-31, then 1 Year CMT + 1.200%) | 2.667 | 03-10-32 | | 200,000 | 156,455 |
| BP Capital Markets PLC | 2.822 | 04-07-32 | EUR | 100,000 | 95,178 |
| Centrica PLC (5.250% to 4-10-25, then 5 Year Pound Sterling Swap Rate + 3.861% to 4-10-45, then 5 Year Pound Sterling Swap Rate + 4.611%) | 5.250 | 04-10-75 | GBP | 115,000 | 121,305 |
| HSBC Holdings PLC (5.402% to 8-11-32, then SOFR + 2.870%) | 5.402 | 08-11-33 | | 400,000 | 380,590 |
| Standard Chartered PLC (2.678% to 6-29-31, then 1 Year CMT + 1.200%) (C) | 2.678 | 06-29-32 | | 200,000 | 158,229 |
| United States 13.9% | | | | | 15,840,379 |
| Acrisure LLC (C) | 7.000 | 11-15-25 | | 97,000 | 91,404 |
| Advanced Drainage Systems, Inc. (C) | 6.375 | 06-15-30 | | 25,000 | 24,188 |
| Alliant Holdings Intermediate LLC (C) | 6.750 | 10-15-27 | | 96,000 | 87,197 |
| Altria Group, Inc. | 3.125 | 06-15-31 | EUR | 170,000 | 148,060 |
| American International Group, Inc. | 4.375 | 06-30-50 | | 95,000 | 85,315 |
| American Tower Corp. | 1.000 | 01-15-32 | EUR | 105,000 | 79,967 |
| AmWINS Group, Inc. (C) | 4.875 | 06-30-29 | | 27,000 | 23,491 |
| Antero Midstream Partners LP (C) | 5.375 | 06-15-29 | | 61,000 | 55,932 |
| Antero Resources Corp. (C) | 5.375 | 03-01-30 | | 59,000 | 55,535 |
| Apache Corp. | 4.375 | 10-15-28 | | 62,000 | 56,734 |
| Appalachian Power Company | 4.500 | 08-01-32 | | 170,000 | 163,823 |
| APX Group, Inc. (C) | 5.750 | 07-15-29 | | 69,000 | 56,279 |
| Aramark Services, Inc. (C) | 6.375 | 05-01-25 | | 118,000 | 116,968 |
| AssuredPartners, Inc. (C) | 5.625 | 01-15-29 | | 126,000 | 104,732 |
| AutoZone, Inc. | 4.750 | 08-01-32 | | 50,000 | 49,538 |
| Bank of America Corp. (2.687% to 4-22-31, then SOFR + 1.320%) | 2.687 | 04-22-32 | | 465,000 | 385,484 |
| Bausch Health Companies, Inc. (C) | 4.875 | 06-01-28 | | 22,000 | 15,208 |
| BCPE Ulysses Intermediate, Inc. (7.750% Cash or 8.500% PIK) (C) | 7.750 | 04-01-27 | | 66,000 | 48,968 |
| Black Knight InfoServ LLC (C) | 3.625 | 09-01-28 | | 290,000 | 253,750 |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK OPPORTUNISTIC FIXED INCOME FUND | 19 |
| | Rate (%) | Maturity date | | Par value^ | Value |
| United States (continued) | | | | | |
| Booz Allen Hamilton, Inc. (C) | 4.000 | 07-01-29 | | 60,000 | 52,901 |
| Broadcom, Inc. | 4.300 | 11-15-32 | | 108,000 | 97,232 |
| Buckeye Partners LP | 5.850 | 11-15-43 | | 190,000 | 144,967 |
| Builders FirstSource, Inc. (C) | 5.000 | 03-01-30 | | 300,000 | 265,875 |
| Caesars Entertainment, Inc. (C) | 8.125 | 07-01-27 | | 98,000 | 96,282 |
| Carnival Corp. (C) | 6.000 | 05-01-29 | | 186,000 | 141,016 |
| Carnival Corp. (C) | 7.625 | 03-01-26 | | 75,000 | 63,851 |
| CCO Holdings LLC (C) | 5.375 | 06-01-29 | | 201,000 | 183,635 |
| Charter Communications Operating LLC | 5.250 | 04-01-53 | | 190,000 | 158,952 |
| Charter Communications Operating LLC | 5.375 | 05-01-47 | | 95,000 | 80,967 |
| Cinemark USA, Inc. (C) | 5.250 | 07-15-28 | | 66,000 | 53,465 |
| Clydesdale Acquisition Holdings, Inc. (C) | 6.625 | 04-15-29 | | 10,000 | 9,599 |
| Clydesdale Acquisition Holdings, Inc. (C) | 8.750 | 04-15-30 | | 145,000 | 126,082 |
| Community Health Systems, Inc. (C) | 4.750 | 02-15-31 | | 44,000 | 32,490 |
| Community Health Systems, Inc. (C) | 6.000 | 01-15-29 | | 43,000 | 35,293 |
| Compass Group Diversified Holdings LLC (C) | 5.250 | 04-15-29 | | 121,000 | 103,001 |
| Corebridge Financial, Inc. (C) | 4.350 | 04-05-42 | | 20,000 | 16,956 |
| CSX Corp. | 4.500 | 11-15-52 | | 95,000 | 88,473 |
| Dave & Buster’s, Inc. (C) | 7.625 | 11-01-25 | | 47,000 | 47,292 |
| Dick’s Sporting Goods, Inc. | 4.100 | 01-15-52 | | 115,000 | 76,826 |
| DISH DBS Corp. (C) | 5.750 | 12-01-28 | | 75,000 | 57,590 |
| Duke Energy Corp. | 5.000 | 08-15-52 | | 85,000 | 80,706 |
| Earthstone Energy Holdings LLC (C) | 8.000 | 04-15-27 | | 19,000 | 18,513 |
| Elanco Animal Health, Inc. | 6.400 | 08-28-28 | | 30,000 | 27,900 |
| Embarq Corp. | 7.995 | 06-01-36 | | 45,000 | 34,988 |
| Enact Holdings, Inc. (C) | 6.500 | 08-15-25 | | 64,000 | 61,120 |
| EnLink Midstream LLC (C) | 5.625 | 01-15-28 | | 98,000 | 94,144 |
| EnLink Midstream Partners LP | 5.450 | 06-01-47 | | 83,000 | 63,391 |
| Fidelity National Information Services, Inc. | 5.625 | 07-15-52 | | 175,000 | 173,292 |
| FirstCash, Inc. (C) | 4.625 | 09-01-28 | | 321,000 | 277,942 |
| FirstCash, Inc. (C) | 5.625 | 01-01-30 | | 144,000 | 128,880 |
| Flex, Ltd. | 4.875 | 05-12-30 | | 90,000 | 85,011 |
| Ford Motor Company | 6.100 | 08-19-32 | | 85,000 | 82,769 |
| Fortune Brands Home & Security, Inc. | 4.500 | 03-25-52 | | 115,000 | 88,431 |
| Freedom Mortgage Corp. (C) | 7.625 | 05-01-26 | | 122,000 | 99,810 |
| Frontier Communications Holdings LLC (C) | 5.875 | 10-15-27 | | 42,000 | 39,176 |
| Frontier Communications Holdings LLC (C) | 6.000 | 01-15-30 | | 160,000 | 131,843 |
| 20 | JOHN HANCOCK OPPORTUNISTIC FIXED INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
| | Rate (%) | Maturity date | | Par value^ | Value |
| United States (continued) | | | | | |
| Frontier Communications Holdings LLC (C) | 6.750 | 05-01-29 | | 168,000 | 144,898 |
| General Motors Company | 5.600 | 10-15-32 | | 170,000 | 162,744 |
| Genworth Holdings, Inc. | 4.800 | 02-15-24 | | 138,000 | 139,567 |
| Glatfelter Corp. (C) | 4.750 | 11-15-29 | | 175,000 | 108,500 |
| Global Payments, Inc. | 5.950 | 08-15-52 | | 90,000 | 87,210 |
| Great Lakes Dredge & Dock Corp. (C) | 5.250 | 06-01-29 | | 170,000 | 144,998 |
| Hawaiian Brand Intellectual Property, Ltd. (C) | 5.750 | 01-20-26 | | 102,000 | 93,104 |
| Hess Corp. | 5.800 | 04-01-47 | | 80,000 | 79,392 |
| Hightower Holding LLC (C) | 6.750 | 04-15-29 | | 132,000 | 110,940 |
| Home Point Capital, Inc. (C) | 5.000 | 02-01-26 | | 175,000 | 124,250 |
| HUB International, Ltd. (C) | 5.625 | 12-01-29 | | 96,000 | 83,967 |
| HUB International, Ltd. (C) | 7.000 | 05-01-26 | | 104,000 | 101,895 |
| IBM Corp. | 4.900 | 07-27-52 | | 100,000 | 96,722 |
| II-VI, Inc. (C) | 5.000 | 12-15-29 | | 27,000 | 24,040 |
| Intel Corp. | 4.900 | 08-05-52 | | 140,000 | 136,619 |
| Intel Corp. | 5.050 | 08-05-62 | | 140,000 | 135,061 |
| JPMorgan Chase & Co. (4.912% to 7-25-32, then SOFR + 2.080%) | 4.912 | 07-25-33 | | 560,000 | 553,785 |
| Ladder Capital Finance Holdings LLLP (C) | 4.250 | 02-01-27 | | 176,000 | 153,957 |
| LBM Acquisition LLC (C) | 6.250 | 01-15-29 | | 67,000 | 50,066 |
| LD Holdings Group LLC (C) | 6.125 | 04-01-28 | | 189,000 | 100,381 |
| LD Holdings Group LLC (C) | 6.500 | 11-01-25 | | 48,000 | 27,579 |
| Lennar Corp. | 4.750 | 11-29-27 | | 48,000 | 46,713 |
| LFS Topco LLC (C) | 5.875 | 10-15-26 | | 64,000 | 52,105 |
| Liberty Mutual Group, Inc. (C) | 3.950 | 05-15-60 | | 125,000 | 88,962 |
| Liberty Mutual Group, Inc. (C) | 5.500 | 06-15-52 | | 135,000 | 131,748 |
| LYB International Finance III LLC | 3.800 | 10-01-60 | | 115,000 | 81,229 |
| M/I Homes, Inc. | 3.950 | 02-15-30 | | 245,000 | 197,006 |
| Magallanes, Inc. (C) | 3.755 | 03-15-27 | | 15,000 | 14,011 |
| Magallanes, Inc. (C) | 5.141 | 03-15-52 | | 225,000 | 180,089 |
| Magallanes, Inc. (C) | 5.391 | 03-15-62 | | 145,000 | 116,392 |
| Medline Borrower LP (C) | 5.250 | 10-01-29 | | 197,000 | 165,563 |
| Meta Platforms, Inc. (C) | 4.450 | 08-15-52 | | 95,000 | 86,471 |
| Meta Platforms, Inc. (C) | 4.650 | 08-15-62 | | 90,000 | 81,193 |
| Mileage Plus Holdings LLC (C) | 6.500 | 06-20-27 | | 48,179 | 48,299 |
| MSCI, Inc. (C) | 3.625 | 09-01-30 | | 131,000 | 111,125 |
| MSCI, Inc. (C) | 3.875 | 02-15-31 | | 95,000 | 81,410 |
| Mylan, Inc. | 5.200 | 04-15-48 | | 115,000 | 88,909 |
| Nabors Industries, Inc. (C) | 7.375 | 05-15-27 | | 33,000 | 31,845 |
| Nasdaq, Inc. | 0.900 | 07-30-33 | EUR | 100,000 | 73,166 |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK OPPORTUNISTIC FIXED INCOME FUND | 21 |
| | Rate (%) | Maturity date | | Par value^ | Value |
| United States (continued) | | | | | |
| Nationstar Mortgage Holdings, Inc. (C) | 5.125 | 12-15-30 | | 40,000 | 31,498 |
| Nationstar Mortgage Holdings, Inc. (C) | 5.750 | 11-15-31 | | 360,000 | 285,475 |
| NCL Corp., Ltd. (C) | 7.750 | 02-15-29 | | 141,000 | 114,505 |
| Netflix, Inc. | 4.625 | 05-15-29 | EUR | 100,000 | 98,596 |
| Nielsen Finance LLC (C) | 4.500 | 07-15-29 | | 125,000 | 125,473 |
| Novelis Corp. (C) | 4.750 | 01-30-30 | | 97,000 | 84,390 |
| Occidental Petroleum Corp. | 4.500 | 07-15-44 | | 74,000 | 64,027 |
| Occidental Petroleum Corp. | 6.450 | 09-15-36 | | 50,000 | 53,435 |
| Oracle Corp. | 4.100 | 03-25-61 | | 115,000 | 80,220 |
| Pacific Gas & Electric Company | 4.550 | 07-01-30 | | 145,000 | 128,951 |
| Pacific Gas & Electric Company | 5.900 | 06-15-32 | | 90,000 | 86,792 |
| Paramount Global | 4.375 | 03-15-43 | | 100,000 | 75,460 |
| Paramount Global | 4.950 | 05-19-50 | | 110,000 | 89,802 |
| PennyMac Financial Services, Inc. (C) | 4.250 | 02-15-29 | | 160,000 | 125,120 |
| Performance Food Group, Inc. (C) | 4.250 | 08-01-29 | | 144,000 | 123,304 |
| Philip Morris International, Inc. | 1.450 | 08-01-39 | EUR | 320,000 | 194,513 |
| Post Holdings, Inc. (C) | 4.625 | 04-15-30 | | 108,000 | 93,794 |
| Presidio Holdings, Inc. (C) | 8.250 | 02-01-28 | | 181,000 | 163,407 |
| Range Resources Corp. (C) | 4.750 | 02-15-30 | | 13,000 | 12,045 |
| Range Resources Corp. | 8.250 | 01-15-29 | | 40,000 | 41,988 |
| Reynolds American, Inc. | 5.850 | 08-15-45 | | 270,000 | 228,125 |
| Royal Caribbean Cruises, Ltd. (C) | 5.500 | 08-31-26 | | 65,000 | 51,957 |
| Royal Caribbean Cruises, Ltd. (C) | 11.625 | 08-15-27 | | 182,000 | 178,389 |
| Scripps Escrow II, Inc. (C) | 5.375 | 01-15-31 | | 62,000 | 51,305 |
| Signal Parent, Inc. (C) | 6.125 | 04-01-29 | | 14,000 | 7,587 |
| Silgan Holdings, Inc. | 2.250 | 06-01-28 | EUR | 100,000 | 84,899 |
| Spirit AeroSystems, Inc. (C) | 5.500 | 01-15-25 | | 43,000 | 42,102 |
| SRS Distribution, Inc. (C) | 6.125 | 07-01-29 | | 50,000 | 41,480 |
| Standard Industries, Inc. (C) | 3.375 | 01-15-31 | | 49,000 | 35,928 |
| Standard Industries, Inc. (C) | 4.375 | 07-15-30 | | 331,000 | 262,822 |
| STL Holding Company LLC (C) | 7.500 | 02-15-26 | | 68,000 | 59,840 |
| Sysco Corp. | 6.600 | 04-01-40 | | 80,000 | 91,857 |
| Sysco Corp. | 6.600 | 04-01-50 | | 10,000 | 11,593 |
| Targa Resources Partners LP | 4.875 | 02-01-31 | | 132,000 | 122,361 |
| Terex Corp. (C) | 5.000 | 05-15-29 | | 138,000 | 123,469 |
| The Brooklyn Union Gas Company (C) | 4.273 | 03-15-48 | | 205,000 | 163,838 |
| The Dun & Bradstreet Corp. (C) | 5.000 | 12-15-29 | | 55,000 | 48,813 |
| The Gap, Inc. (C) | 3.625 | 10-01-29 | | 76,000 | 52,933 |
| The Gap, Inc. (C) | 3.875 | 10-01-31 | | 144,000 | 99,866 |
| The Hertz Corp. (C) | 5.000 | 12-01-29 | | 75,000 | 60,329 |
| The Interpublic Group of Companies, Inc. | 5.400 | 10-01-48 | | 65,000 | 62,452 |
| 22 | JOHN HANCOCK OPPORTUNISTIC FIXED INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
| | Rate (%) | Maturity date | | Par value^ | Value |
| United States (continued) | | | | | |
| The William Carter Company (C) | 5.625 | 03-15-27 | | 164,000 | 158,363 |
| T-Mobile USA, Inc. | 3.375 | 04-15-29 | | 135,000 | 121,608 |
| TopBuild Corp. (C) | 3.625 | 03-15-29 | | 30,000 | 25,231 |
| TransDigm, Inc. (C) | 6.250 | 03-15-26 | | 118,000 | 115,935 |
| Tri Pointe Homes, Inc. | 5.700 | 06-15-28 | | 170,000 | 154,019 |
| Truist Financial Corp. (5.125% to 12-15-27, then 3 month LIBOR + 2.786%) (F) | 5.125 | 12-15-27 | | 84,000 | 72,660 |
| U.S. Steel Corp. | 6.875 | 03-01-29 | | 128,000 | 125,120 |
| United Natural Foods, Inc. (C) | 6.750 | 10-15-28 | | 177,000 | 170,010 |
| United Wholesale Mortgage LLC (C) | 5.500 | 04-15-29 | | 425,000 | 330,616 |
| Unum Group | 4.125 | 06-15-51 | | 115,000 | 84,693 |
| Venture Global Calcasieu Pass LLC (C) | 4.125 | 08-15-31 | | 141,000 | 122,378 |
| Viatris, Inc. | 4.000 | 06-22-50 | | 125,000 | 80,767 |
| Viper Energy Partners LP (C) | 5.375 | 11-01-27 | | 290,000 | 277,675 |
| Wells Fargo & Company (4.897% to 7-25-32, then SOFR + 2.100%) | 4.897 | 07-25-33 | | 280,000 | 275,509 |
|
| Western Midstream Operating LP | 4.300 | 02-01-30 | | 124,000 | 111,910 |
| Convertible bonds 1.9% | | | | | $2,125,098 |
| (Cost $2,639,816) | | | | | |
| China 0.1% | | | | | 113,250 |
| NIO, Inc. | 0.500 | 02-01-27 | | 150,000 | 113,250 |
| Israel 0.0% | | | | | 7,341 |
| SolarEdge Technologies, Inc., Zero Coupon | 0.000 | 09-15-25 | | 6,000 | 7,341 |
| Italy 0.1% | | | | | 86,041 |
| Nexi SpA | 1.750 | 04-24-27 | EUR | 100,000 | 86,041 |
| Luxembourg 0.1% | | | | | 56,913 |
| Arrival SA (C) | 3.500 | 12-01-26 | | 170,000 | 56,913 |
| Singapore 0.2% | | | | | 219,454 |
| Sea, Ltd. | 0.250 | 09-15-26 | | 300,000 | 219,454 |
| United Kingdom 0.3% | | | | | 381,706 |
| Endeavour Mining Corp. | 3.000 | 02-15-23 | | 380,000 | 381,706 |
| United States 1.1% | | | | | 1,260,393 |
| Airbnb, Inc. (B) | 4.377 | 03-15-26 | | 30,000 | 25,725 |
| Bandwidth, Inc. | 0.250 | 03-01-26 | | 9,000 | 6,084 |
| Beyond Meat, Inc. (B) | 25.854 | 03-15-27 | | 125,000 | 43,375 |
| Block, Inc. | 0.125 | 03-01-25 | | 6,000 | 5,933 |
| Bloomin’ Brands, Inc. | 5.000 | 05-01-25 | | 4,000 | 7,395 |
| Ceridian HCM Holding, Inc. | 0.250 | 03-15-26 | | 35,000 | 29,593 |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK OPPORTUNISTIC FIXED INCOME FUND | 23 |
| | Rate (%) | Maturity date | | Par value^ | Value |
| United States (continued) | | | | | |
| DraftKings Holdings, Inc. (B) | 7.371 | 03-15-28 | | 5,000 | 3,353 |
| Etsy, Inc. | 0.125 | 10-01-26 | | 5,000 | 7,027 |
| Exact Sciences Corp. | 0.375 | 03-01-28 | | 90,000 | 61,470 |
| FTI Consulting, Inc. | 2.000 | 08-15-23 | | 6,000 | 9,605 |
| JetBlue Airways Corp. | 0.500 | 04-01-26 | | 140,000 | 105,420 |
| John Bean Technologies Corp. | 0.250 | 05-15-26 | | 22,000 | 19,855 |
| NCL Corp., Ltd. (C) | 2.500 | 02-15-27 | | 14,000 | 10,164 |
| NuVasive, Inc. | 0.375 | 03-15-25 | | 35,000 | 30,538 |
| Pebblebrook Hotel Trust | 1.750 | 12-15-26 | | 30,000 | 28,393 |
| Penn Entertainment, Inc. | 2.750 | 05-15-26 | | 4,000 | 6,148 |
| Pioneer Natural Resources Company | 0.250 | 05-15-25 | | 13,000 | 31,896 |
| Repay Holdings Corp. (B)(C) | 8.356 | 02-01-26 | | 415,000 | 314,075 |
| Royal Caribbean Cruises, Ltd. (C) | 6.000 | 08-15-25 | | 85,000 | 94,435 |
| Shift4 Payments, Inc. | 0.500 | 08-01-27 | | 310,000 | 245,675 |
| Southwest Airlines Company | 1.250 | 05-01-25 | | 9,000 | 11,246 |
| Splunk, Inc. | 1.125 | 06-15-27 | | 15,000 | 12,581 |
| The Middleby Corp. | 1.000 | 09-01-25 | | 83,000 | 102,962 |
| Uber Technologies, Inc. (B) | 4.727 | 12-15-25 | | 28,000 | 23,998 |
|
| Workday, Inc. | 0.250 | 10-01-22 | | 21,000 | 23,447 |
| Municipal bonds 1.4% | | | | $1,613,114 |
| (Cost $1,806,220) | | | | | |
| California Health Facilities Financing Authority | 4.190 | 06-01-37 | | 65,000 | 61,460 |
|
| California Health Facilities Financing Authority | 4.353 | 06-01-41 | | 25,000 | 23,555 |
| Chicago Transit Authority (Illinois) | 3.552 | 12-01-34 | | 95,000 | 84,973 |
| Chicago Transit Authority (Illinois) | 3.912 | 12-01-40 | | 10,000 | 8,966 |
| Chicago Transit Authority, Series A (Illinois) | 6.899 | 12-01-40 | | 10,000 | 11,816 |
| City & County of Denver Company Airport System Revenue (Colorado) | 2.717 | 11-15-34 | | 20,000 | 16,457 |
| City & County of Denver Company Airport System Revenue (Colorado) | 2.867 | 11-15-37 | | 15,000 | 12,011 |
| City of Austin Airport System Revenue (Texas) | 5.000 | 11-15-32 | | 25,000 | 26,968 |
| City of Austin Airport System Revenue (Texas) | 5.000 | 11-15-44 | | 60,000 | 62,287 |
| City of Houston Airport System Revenue (Texas) | 2.385 | 07-01-31 | | 50,000 | 42,690 |
| City of San Antonio Electric & Gas Systems Revenue (Texas) | 4.365 | 02-01-42 | | 95,000 | 87,116 |
| City of San Antonio Electric & Gas Systems Revenue (Texas) | 4.445 | 02-01-47 | | 95,000 | 86,043 |
| City of Tampa (Florida) (B) | 4.359 | 09-01-36 | | 20,000 | 10,908 |
| 24 | JOHN HANCOCK OPPORTUNISTIC FIXED INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
| | Rate (%) | Maturity date | | Par value^ | Value |
|
| Commonwealth of Massachusetts, GO | 2.514 | 07-01-41 | | 130,000 | $98,972 |
| County of Broward Port Facilities Revenue (Florida) | 5.000 | 09-01-28 | | 30,000 | 33,039 |
| County of Broward Port Facilities Revenue (Florida) | 5.000 | 09-01-29 | | 20,000 | 22,991 |
| County of Broward Port Facilities Revenue (Florida) | 5.000 | 09-01-33 | | 20,000 | 21,870 |
| County of Miami-Dade Aviation Revenue (Florida) | 3.270 | 10-01-41 | | 10,000 | 7,976 |
| County of Miami-Dade Aviation Revenue (Florida) | 4.000 | 10-01-35 | | 30,000 | 29,462 |
| Dallas Fort Worth International Airport (Texas) | 3.089 | 11-01-40 | | 30,000 | 24,761 |
| Dallas Fort Worth International Airport (Texas) | 4.087 | 11-01-51 | | 50,000 | 46,147 |
| District of Columbia | 3.432 | 04-01-42 | | 85,000 | 66,943 |
| Greater Orlando Aviation Authority (Florida) | 5.000 | 10-01-28 | | 10,000 | 10,725 |
| Greater Orlando Aviation Authority (Florida) | 5.000 | 10-01-28 | | 25,000 | 26,378 |
| Iowa Finance Authority | 3.250 | 07-01-50 | | 10,000 | 9,873 |
| Metropolitan Transportation Authority (New York) | 5.000 | 11-15-29 | | 15,000 | 16,252 |
| Metropolitan Transportation Authority (New York) | 5.000 | 11-15-50 | | 25,000 | 25,510 |
| New Jersey Educational Facilities Authority | 5.000 | 03-01-32 | | 75,000 | 89,213 |
| New Jersey Transportation Trust Fund Authority | 4.000 | 06-15-45 | | 10,000 | 9,192 |
| New York City Transitional Finance Authority | 4.000 | 05-01-45 | | 20,000 | 18,972 |
| Orange County Convention Center (Florida) | 5.000 | 10-01-31 | | 15,000 | 15,879 |
| Port Authority of New York & New Jersey | 4.000 | 03-15-30 | | 50,000 | 51,220 |
| Port Authority of New York & New Jersey | 5.000 | 09-15-33 | | 30,000 | 32,020 |
| Port of Seattle (Washington) | 5.000 | 10-01-31 | | 30,000 | 31,936 |
| Port of Seattle (Washington) | 5.000 | 04-01-39 | | 40,000 | 41,785 |
| Regents of the University of California Medical Center Pooled Revenue | 4.563 | 05-15-53 | | 115,000 | 113,583 |
| San Francisco City & County Airport Commission (California) | 2.958 | 05-01-51 | | 20,000 | 14,414 |
| San Francisco City & County Airport Commission (California) | 4.000 | 05-01-39 | | 15,000 | 14,372 |
| San Francisco City & County Airport Commission (California) | 5.000 | 05-01-50 | | 75,000 | 77,643 |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK OPPORTUNISTIC FIXED INCOME FUND | 25 |
| | Rate (%) | Maturity date | | Par value^ | Value |
|
| State of Hawaii Airports System Revenue | 4.000 | 07-01-35 | | 20,000 | $19,469 |
| State of Hawaii Airports System Revenue | 5.000 | 07-01-33 | | 70,000 | 75,689 |
|
| Triborough Bridge & Tunnel Authority (New York) | 5.000 | 11-15-54 | | 30,000 | 31,578 |
| Term loans (G) 6.8% | | | | $7,718,533 |
| (Cost $8,050,896) | | | | | |
| Cayman Islands 0.0% | | | | | 0 |
| Paragon Offshore Finance Company, Term Loan B (E)(H) | 0.000 | 07-18-22 | | 9,802 | 0 |
| Luxembourg 0.2% | | | | | 196,026 |
| Delta 2 Lux Sarl, 2018 USD Term Loan (1 month LIBOR + 2.500%) | 5.024 | 02-01-24 | | 100,000 | 99,042 |
| Jazz Financing Lux Sarl, USD Term Loan (1 month LIBOR + 3.500%) | 6.024 | 05-05-28 | | 99,000 | 96,984 |
| Netherlands 0.1% | | | | | 167,522 |
| Diamond BC BV, 2021 Term Loan B (1 and 3 month LIBOR + 2.750%) | 5.555 | 09-29-28 | | 174,125 | 167,522 |
| Spain 0.1% | | | | | 96,618 |
| Fluidra Finco SL, 2022 USD Term Loan B (1 month SOFR + 2.100%) | 4.555 | 01-29-29 | | 99,500 | 96,618 |
| United States 6.4% | | | | | 7,258,367 |
| ABG Intermediate Holdings 2 LLC, 2021 Term Loan B1 (1 month SOFR + 3.600%) | 6.055 | 12-21-28 | | 325,000 | 316,875 |
| Acrisure LLC, 2020 Term Loan B (1 month LIBOR + 3.500%) | 6.024 | 02-15-27 | | 246,608 | 235,767 |
| AHP Health Partners, Inc., 2021 Term Loan B (1 month LIBOR + 3.500%) | 6.024 | 08-24-28 | | 109,175 | 104,842 |
| APX Group, Inc., 2021 Term Loan B (Prime rate + 2.250% and 1 month LIBOR + 3.250%) | 5.628 | 07-10-28 | | 148,626 | 144,515 |
| Asurion LLC, 2020 Term Loan B8 (1 month LIBOR + 3.250%) | 5.774 | 12-23-26 | | 97,561 | 89,199 |
| Asurion LLC, 2021 2nd Lien Term Loan B3 (1 month LIBOR + 5.250%) | 7.774 | 01-31-28 | | 350,000 | 299,250 |
| athenahealth, Inc., 2022 Term Loan B (1 month SOFR + 3.500%) | 5.800 | 02-15-29 | | 85,507 | 81,659 |
| Berlin Packaging LLC, 2021 Term Loan B5 (1 and 3 month LIBOR + 3.750%) | 6.123 | 03-11-28 | | 148,875 | 143,532 |
| 26 | JOHN HANCOCK OPPORTUNISTIC FIXED INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
| | Rate (%) | Maturity date | | Par value^ | Value |
| United States (continued) | | | | | |
| Blackhawk Network Holdings, Inc., 2018 1st Lien Term Loan (3 month SOFR + 3.000%) | 5.054 | 06-15-25 | | 98,458 | $94,366 |
| Caesars Resort Collection LLC, 2017 1st Lien Term Loan B (1 month LIBOR + 2.750%) | 5.274 | 12-23-24 | | 247,795 | 244,303 |
| Carnival Corp., 2021 Incremental Term Loan B (6 month LIBOR + 3.250%) | 6.127 | 10-18-28 | | 124,375 | 115,669 |
| Clydesdale Acquisition Holdings, Inc., Term Loan B (1 month SOFR + 4.175%) | 6.730 | 04-13-29 | | 100,000 | 96,358 |
| Core & Main LP, 2021 Term Loan B (1 and 3 month LIBOR + 2.500%) | 4.773 | 07-27-28 | | 146,486 | 142,686 |
| Crocs, Inc., Term Loan B (3 month SOFR + 3.500%) | 4.449 | 02-20-29 | | 339,150 | 326,008 |
| Crown Finance US, Inc., 2018 USD Term Loan (E) | 0.000 | 02-28-25 | | 123,927 | 79,334 |
| Crown Finance US, Inc. , 2021 Incremental Term Loan B1 (6 month LIBOR + 8.250%) | 10.076 | 02-28-25 | | 5,411 | 5,729 |
| Dcert Buyer, Inc., 2019 Term Loan B (3 month LIBOR + 4.000%) | 6.903 | 10-16-26 | | 345,846 | 335,952 |
| Elanco Animal Health, Inc., Term Loan B (1 month LIBOR + 1.750%) | 4.123 | 08-01-27 | | 116,155 | 111,999 |
| First Brands Group LLC, 2021 Term Loan (3 month SOFR + 5.000%) | 8.368 | 03-30-27 | | 119,095 | 115,113 |
| FleetCor Technologies Operating Company LLC, 2021 Term Loan B4 (1 month LIBOR + 1.750%) | 4.274 | 04-28-28 | | 233,235 | 227,514 |
| Frontier Communications Holdings LLC, 2021 DIP Term Loan B (3 month LIBOR + 3.750%) | 6.063 | 05-01-28 | | 98,750 | 95,467 |
| Golden Entertainment, Inc., 2017 1st Lien Term Loan (1 month LIBOR + 3.000%) | 5.460 | 10-21-24 | | 101,078 | 99,846 |
| Great Outdoors Group LLC, 2021 Term Loan B1 (1 month LIBOR + 3.750%) | 6.274 | 03-06-28 | | 113,281 | 109,430 |
| Heartland Dental LLC, 2021 Incremental Term Loan (1 month LIBOR + 4.000%) | 6.444 | 04-30-25 | | 118,800 | 113,627 |
| Hightower Holding LLC, 2021 Term Loan B (3 month LIBOR + 4.000%) | 6.732 | 04-21-28 | | 148,875 | 144,223 |
| HUB International, Ltd., 2018 Term Loan B (3 month LIBOR + 3.000%) | 5.766 | 04-25-25 | | 196,687 | 192,344 |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK OPPORTUNISTIC FIXED INCOME FUND | 27 |
| | Rate (%) | Maturity date | | Par value^ | Value |
| United States (continued) | | | | | |
| Hyland Software, Inc., 2018 1st Lien Term Loan (1 month LIBOR + 3.500%) | 6.024 | 07-01-24 | | 98,214 | $96,846 |
| Ii-Vi, Inc., 2022 Term Loan B (1 month LIBOR + 2.750%) | 5.123 | 07-02-29 | | 105,000 | 102,593 |
| IRB Holding Corp., 2022 Term Loan B (1 month SOFR + 3.150%) | 5.437 | 12-15-27 | | 426,833 | 412,338 |
| Mauser Packaging Solutions Holding Company, 2017 Term Loan B (1 month LIBOR + 3.250%) | 5.623 | 04-03-24 | | 123,377 | 120,578 |
| Medline Borrower LP, USD Term Loan B (1 month LIBOR + 3.250%) | 5.774 | 10-23-28 | | 189,525 | 180,488 |
| Mitchell International, Inc., 2021 Term Loan B (1 month LIBOR + 3.750%) | 6.734 | 10-15-28 | | 169,575 | 161,573 |
| NEP Group, Inc., 2018 1st Lien Term Loan (1 month LIBOR + 3.250%) | 5.774 | 10-20-25 | | 149,242 | 142,607 |
| Phoenix Newco, Inc., 2021 1st Lien Term Loan (1 month LIBOR + 3.250%) | 5.774 | 11-15-28 | | 134,663 | 130,959 |
| Polaris Newco LLC, USD Term Loan B (1 month LIBOR + 4.000%) | 6.524 | 06-02-28 | | 99,250 | 95,119 |
| Prestige Brands, Inc., 2021 Term Loan B5 (1 month LIBOR + 2.000%) | 4.524 | 07-03-28 | | 76,667 | 76,496 |
| Quikrete Holdings, Inc., 2016 1st Lien Term Loan (1 month LIBOR + 2.625%) | 5.149 | 02-01-27 | | 97,500 | 93,737 |
| Sedgwick Claims Management Services, Inc., 2018 Term Loan B (1 month LIBOR + 3.250%) | 5.774 | 12-31-25 | | 196,002 | 191,493 |
| Southwestern Energy Company, 2021 Term Loan (2 month SOFR + 2.500%) | 4.704 | 06-22-27 | | 99,500 | 98,505 |
| SRS Distribution, Inc., 2021 Term Loan B (3 month LIBOR + 3.500%) | 6.306 | 06-02-28 | | 108,403 | 104,608 |
| SS&C Technologies, Inc., 2018 Term Loan B3 (1 month LIBOR + 1.750%) | 4.274 | 04-16-25 | | 87,857 | 85,811 |
| SS&C Technologies, Inc., 2018 Term Loan B4 (1 month LIBOR + 1.750%) | 4.274 | 04-16-25 | | 71,321 | 69,660 |
| Surgery Center Holdings, Inc., 2021 Term Loan (1 month LIBOR + 3.750%) | 6.140 | 08-31-26 | | 138,250 | 133,955 |
| Tempo Acquisition LLC, 2022 Term Loan B (1 month SOFR + 3.000%) | 5.455 | 08-31-28 | | 199,000 | 195,617 |
| The Dun & Bradstreet Corp., Term Loan (1 month LIBOR + 3.250%) | 5.743 | 02-06-26 | | 147,007 | 142,671 |
| 28 | JOHN HANCOCK OPPORTUNISTIC FIXED INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
| | Rate (%) | Maturity date | | Par value^ | Value |
| United States (continued) | | | | | |
| TransDigm, Inc., 2020 Term Loan E (1 month LIBOR + 2.250%) | 4.774 | 05-30-25 | | 196,105 | $191,222 |
| TricorBraun Holdings, Inc., 2021 Term Loan (1 month LIBOR + 3.250%) | 5.774 | 03-03-28 | | 198,527 | 192,052 |
|
| WW International, Inc., 2021 Term Loan B (1 month LIBOR + 3.500%) | 6.030 | 04-13-28 | | 236,605 | 173,832 |
| Collateralized mortgage obligations 5.4% | | | | $6,178,577 |
| (Cost $6,409,628) | | | | | |
| Commercial and residential 2.6% | | | 2,969,002 |
| Angel Oak Mortgage Trust | | | | | |
| Series 2020-3, Class M1 (C)(I) | 3.809 | 04-25-65 | | 50,000 | 46,054 |
| BANK | | | | | |
| Series 2021-BN31, Class C (I) | 2.545 | 02-15-54 | | 30,000 | 22,544 |
| BFLD Trust | | | | | |
| Series 2020-OBRK, Class A (1 month LIBOR + 2.050%) (C)(J) | 4.441 | 11-15-28 | | 10,000 | 9,893 |
| BRAVO Residential Funding Trust | | | | | |
| Series 2020-NQM1, Class M1 (C)(I) | 3.181 | 05-25-60 | | 129,000 | 121,723 |
| Series 2021-NQM1, Class M1 (C)(I) | 2.316 | 02-25-49 | | 100,000 | 91,319 |
| BX Trust | | | | | |
| Series 2021-MFM1, Class C (1 month LIBOR + 1.200%) (C)(J) | 3.591 | 01-15-34 | | 50,000 | 47,750 |
| Series 2021-MFM1, Class D (1 month LIBOR + 1.500%) (C)(J) | 3.891 | 01-15-34 | | 10,000 | 9,450 |
| Series 2022-CSMO, Class A (1 month CME Term SOFR + 2.115%) (C)(J) | 4.422 | 06-15-27 | | 100,000 | 99,250 |
| CAMB Commercial Mortgage Trust | | | | | |
| Series 2019-LIFE, Class E (1 month LIBOR + 2.150%) (C)(J) | 4.541 | 12-15-37 | | 134,000 | 129,987 |
| CIM Trust | | | | | |
| Series 2021-NR2, Class A1 (2.568% to 3-1-24, then 5.568% to 3-1-25, then 6.568% thereafter) (C) | 2.568 | 07-25-59 | | 65,634 | 62,282 |
| Series 2021-R4, Class A1 (C)(I) | 2.000 | 05-01-61 | | 74,542 | 65,381 |
| Commercial Mortgage Trust (Deutsche Bank AG) | | | | | |
| Series 2013-LC13, Class AM (C)(I) | 4.557 | 08-10-46 | | 125,000 | 123,938 |
| Credit Suisse Mortgage Trust | | | | | |
| Series 2020-NET, Class D (C)(I) | 3.828 | 08-15-37 | | 100,000 | 91,488 |
| Deephaven Residential Mortgage Trust | | | | | |
| Series 2020-2, Class M1 (C)(I) | 4.112 | 05-25-65 | | 100,000 | 95,764 |
| Flagstar Mortgage Trust | | | | | |
| Series 2021-5INV, Class A5 (C)(I) | 2.500 | 07-25-51 | | 81,008 | 73,743 |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK OPPORTUNISTIC FIXED INCOME FUND | 29 |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Commercial and residential (continued) | | | |
| FREMF Mortgage Trust | | | | | |
| Series 2016-K60, Class B (C)(I) | 3.661 | 12-25-49 | | 11,000 | $10,476 |
| Series 2018-K72, Class B (C)(I) | 4.119 | 12-25-50 | | 15,000 | 14,384 |
| Series 2020-K104, Class C (C)(I) | 3.661 | 02-25-52 | | 25,000 | 22,284 |
| GS Mortgage Securities Trust | | | | | |
| Series 2018-HULA, Class C (1 month LIBOR + 1.450%) (C)(J) | 3.841 | 07-15-25 | | 137,216 | 132,756 |
| JPMorgan Chase Commercial Mortgage Securities Trust | | | | | |
| Series 2020-NNN, Class BFX (C) | 3.065 | 01-16-37 | | 45,000 | 41,912 |
| JPMorgan Mortgage Trust | | | | | |
| Series 2019-7, Class A11 (1 month LIBOR + 0.900%) (C)(J) | 3.344 | 02-25-50 | | 12,314 | 11,786 |
| KKR Industrial Portfolio Trust | | | | | |
| Series 2021-KDIP, Class C (1 month LIBOR + 1.000%) (C)(J) | 3.391 | 12-15-37 | | 37,500 | 36,094 |
| KNDL Mortgage Trust | | | | | |
| Series 2019-KNSQ, Class E (1 month LIBOR + 1.800%) (C)(J) | 4.191 | 05-15-36 | | 100,000 | 96,970 |
| Legacy Mortgage Asset Trust | | | | | |
| Series 2019-GS7, Class A1 (3.250% to 10-25-22, then 6.250% to 10-25-23, then 7.250% thereafter) (C) | 3.250 | 11-25-59 | | 110,206 | 110,036 |
| LoanCore Issuer, Ltd. | | | | | |
| Series 2021-CRE4, Class A (1 month SOFR + 0.914%) (C)(J) | 2.798 | 07-15-35 | | 54,425 | 53,502 |
| Morgan Stanley Bank of America Merrill Lynch Trust | | | | | |
| Series 2013-C8, Class B (I) | 3.790 | 12-15-48 | | 45,000 | 44,609 |
| Series 2013-C8, Class C (I) | 4.287 | 12-15-48 | | 65,000 | 64,312 |
| Morgan Stanley Capital I Trust | | | | | |
| Series 2017-CLS, Class F (1 month LIBOR + 2.600%) (C)(J) | 4.991 | 11-15-34 | | 40,000 | 39,231 |
| New Residential Mortgage Loan Trust | | | | | |
| Series 2015-2A, Class B4 (C)(I) | 5.408 | 08-25-55 | | 59,105 | 57,433 |
| Series 2021-INV2, Class A11 (1 month SOFR + 0.950%) (C)(J) | 2.464 | 09-25-51 | | 90,087 | 85,357 |
| NYMT Loan Trust I | | | | | |
| Series 2021-BPL1, Class A1 (2.239% to 5-25-24, then 4.239% thereafter) (C) | 2.239 | 05-25-26 | | 100,000 | 94,641 |
| OPG Trust | | | | | |
| Series 2021-PORT, Class D (1 month LIBOR + 1.131%) (C)(J) | 3.522 | 10-15-36 | | 22,319 | 20,688 |
| PRPM LLC | | | | | |
| Series 2021-1, Class A1 (C)(I) | 2.115 | 01-25-26 | | 75,226 | 71,921 |
| Series 2021-2, Class A1 (C)(I) | 2.115 | 03-25-26 | | 68,050 | 64,617 |
| 30 | JOHN HANCOCK OPPORTUNISTIC FIXED INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Commercial and residential (continued) | | | |
| Series 2021-6, Class A1 (1.793% to 7-25-24, then 4.793% to 7-25-25, then 5.793% thereafter) (C) | 1.793 | 07-25-26 | | 75,526 | $70,189 |
| Series 2021-9, Class A1 (2.363% to 10-25-24, then 5.363% to 10-25-25, then 6.363% thereafter) (C) | 2.363 | 10-25-26 | | 79,988 | 74,792 |
| Toorak Mortgage Corp. | | | | | |
| Series 2019-2, Class A2 | 4.213 | 09-25-22 | | 100,000 | 95,955 |
| Towd Point Mortgage Trust | | | | | |
| Series 2019-3, Class M1 (C)(I) | 4.250 | 02-25-59 | | 150,000 | 141,234 |
| UBS Commercial Mortgage Trust | | | | | |
| Series 2019-C16, Class ASB | 3.460 | 04-15-52 | | 154,000 | 147,097 |
| Verus Securitization Trust | | | | | |
| Series 2020-5, Class M1 (C)(I) | 2.601 | 05-25-65 | | 200,000 | 179,228 |
| Wells Fargo Commercial Mortgage Trust | | | | | |
| Series 2020-C58, Class B | 2.704 | 07-15-53 | | 65,000 | 52,504 |
| Wells Fargo Mortgage Backed Securities Trust | | | | | |
| Series 2019-3, Class A1 (C)(I) | 3.500 | 07-25-49 | | 6,902 | 6,397 |
| WF-RBS Commercial Mortgage Trust | | | | | |
| Series 2011-C4, Class C (C)(I) | 4.987 | 06-15-44 | | 38,118 | 38,031 |
| U.S. Government Agency 2.8% | | | 3,209,575 |
| Federal Home Loan Mortgage Corp. | | | | | |
| Series 2013-DN2, Class M2 (1 month LIBOR + 4.250%) (J) | 6.694 | 11-25-23 | | 91,022 | 93,467 |
| Series 2020-DNA6, Class M2 (1 month SOFR + 2.000%) (C)(J) | 4.183 | 12-25-50 | | 18,954 | 18,954 |
| Series 2020-HQA2, Class M2 (1 month LIBOR + 3.100%) (C)(J) | 5.544 | 03-25-50 | | 58,848 | 60,110 |
| Series 2020-HQA3, Class B1 (1 month LIBOR + 5.750%) (C)(J) | 8.194 | 07-25-50 | | 45,000 | 46,325 |
| Series 2020-HQA4, Class M2 (1 month LIBOR + 3.150%) (C)(J) | 5.594 | 09-25-50 | | 4,120 | 4,132 |
| Series 2021-DNA1, Class M2 (1 month SOFR + 1.800%) (C)(J) | 3.983 | 01-25-51 | | 22,656 | 22,323 |
| Series 2021-DNA5, Class B1 (1 month SOFR + 3.050%) (C)(J) | 5.233 | 01-25-34 | | 100,000 | 92,243 |
| Series 2021-DNA6, Class M2 (1 month SOFR + 1.500%) (C)(J) | 3.683 | 10-25-41 | | 178,000 | 168,210 |
| Series 2021-HQA1, Class M2 (1 month SOFR + 2.250%) (C)(J) | 4.433 | 08-25-33 | | 180,000 | 173,220 |
| Series 2021-HQA2, Class M2 (1 month SOFR + 2.050%) (C)(J) | 4.233 | 12-25-33 | | 100,000 | 93,322 |
| Series 2021-HQA3, Class M2 (1 month SOFR + 2.100%) (C)(J) | 4.283 | 09-25-41 | | 180,000 | 164,350 |
| Series 2021-P011, Class X1 IO | 1.837 | 09-25-45 | | 96,165 | 12,965 |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK OPPORTUNISTIC FIXED INCOME FUND | 31 |
| | Rate (%) | Maturity date | | Par value^ | Value |
| U.S. Government Agency (continued) | | | |
| Series 2022-DNA1, Class B1 (1 month SOFR + 3.400%) (C)(J) | 5.583 | 01-25-42 | | 150,000 | $136,448 |
| Series 2022-DNA3, Class M1B (1 month SOFR + 2.900%) (C)(J) | 5.083 | 04-25-42 | | 50,000 | 49,705 |
| Series 2022-DNA5, Class M2 (1 month SOFR + 6.750%) (C)(J) | 8.933 | 06-25-42 | | 50,000 | 52,750 |
| Series 2022-HQA1, Class M1B (1 month SOFR + 3.500%) (C)(J) | 5.683 | 03-25-42 | | 15,000 | 14,868 |
| Series 2022-HQA1, Class M2 (1 month SOFR + 5.250%) (C)(J) | 7.433 | 03-25-42 | | 540,000 | 535,267 |
| Series 2022-HQA3, Class M1B (1 month SOFR + 3.550%) (C)(J) | 5.358 | 08-25-42 | | 40,000 | 39,599 |
| Series K031, Class X3 IO | 1.716 | 07-25-41 | | 260,000 | 2,544 |
| Series K066, Class X1 IO | 0.887 | 06-25-27 | | 282,924 | 8,317 |
| Series K103, Class X1 IO | 0.758 | 11-25-29 | | 224,530 | 8,533 |
| Series K104, Class X3 IO | 1.961 | 02-25-47 | | 100,000 | 11,007 |
| Series K105, Class X1 IO | 1.645 | 01-25-30 | | 169,691 | 15,094 |
| Series K106, Class X1 IO | 1.477 | 01-25-30 | | 139,489 | 11,072 |
| Series K112, Class X1 IO | 1.535 | 05-25-30 | | 99,750 | 8,720 |
| Series K113, Class X1 IO | 1.490 | 06-25-30 | | 99,967 | 8,480 |
| Series K115, Class X3 IO | 3.060 | 09-25-48 | | 100,000 | 17,880 |
| Series K737, Class X1 IO | 0.751 | 10-25-26 | | 113,018 | 2,340 |
| Series K740, Class X1 IO | 0.843 | 09-25-27 | | 99,551 | 3,136 |
| Series Q014, Class X IO | 2.795 | 10-25-55 | | 96,231 | 19,117 |
| Federal National Mortgage Association | | | | | |
| Series 2014-C03, Class 1M2 (1 month LIBOR + 3.000%) (J) | 5.444 | 07-25-24 | | 78,076 | 79,603 |
| Series 2014-C04, Class 1M2 (1 month LIBOR + 4.900%) (J) | 7.344 | 11-25-24 | | 36,698 | 38,386 |
| Series 2017-C05, Class 1B1 (1 month LIBOR + 3.600%) (J) | 6.044 | 01-25-30 | | 25,000 | 25,244 |
| Series 2017-C06, Class 2B1 (1 month LIBOR + 4.450%) (J) | 6.894 | 02-25-30 | | 50,000 | 52,653 |
| Series 2017-C07, Class 1B1 (1 month LIBOR + 4.000%) (J) | 6.444 | 05-25-30 | | 67,000 | 68,340 |
| Series 2017-C07, Class 2B1 (1 month LIBOR + 4.450%) (J) | 6.894 | 05-25-30 | | 55,000 | 56,340 |
| Series 2018-C02, Class 2B1 (1 month LIBOR + 4.000%) (J) | 6.444 | 08-25-30 | | 15,000 | 15,057 |
| Series 2018-C03, Class 1B1 (1 month LIBOR + 3.750%) (J) | 6.194 | 10-25-30 | | 100,000 | 100,480 |
| Series 2019-R03, Class 1B1 (1 month LIBOR + 4.100%) (C)(J) | 6.544 | 09-25-31 | | 20,000 | 20,297 |
| Series 2020-R01, Class 1M2 (1 month LIBOR + 2.050%) (C)(J) | 4.494 | 01-25-40 | | 17,858 | 17,498 |
| Series 2020-R02, Class 2M2 (1 month LIBOR + 2.000%) (C)(J) | 4.444 | 01-25-40 | | 6,551 | 6,563 |
| 32 | JOHN HANCOCK OPPORTUNISTIC FIXED INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
| | Rate (%) | Maturity date | | Par value^ | Value |
| U.S. Government Agency (continued) | | | |
| Series 2021-R03, Class 1M1 (1 month SOFR + 0.850%) (C)(J) | 3.033 | 12-25-41 | | 133,138 | $132,332 |
| Series 2022-R01, Class 1M1 (1 month SOFR + 1.000%) (C)(J) | 3.183 | 12-25-41 | | 61,634 | 60,880 |
| Series 2022-R02, Class 2B1 (1 month SOFR + 4.500%) (C)(J) | 6.683 | 01-25-42 | | 150,000 | 142,125 |
| Series 2022-R02, Class 2M1 (1 month SOFR + 1.200%) (C)(J) | 3.383 | 01-25-42 | | 77,395 | 76,865 |
| Series 2022-R03, Class 1B1 (1 month SOFR + 6.250%) (C)(J) | 8.433 | 03-25-42 | | 67,000 | 68,931 |
| Series 2022-R03, Class 1M2 (1 month SOFR + 3.500%) (C)(J) | 5.683 | 03-25-42 | | 49,000 | 49,673 |
| Series 2022-R04, Class 1B1 (1 month SOFR + 5.250%) (C)(J) | 7.433 | 03-25-42 | | 115,000 | 114,425 |
| Series 2022-R05, Class 2B1 (1 month SOFR + 4.500%) (C)(J) | 6.683 | 04-25-42 | | 100,000 | 98,374 |
| Series 2022-R06, Class 1M1 (1 month SOFR + 2.750%) (C)(J) | 4.933 | 05-25-42 | | 46,543 | 47,307 |
|
| Series 2022-R07, Class 1M1 (1 month SOFR + 2.950%) (C)(J) | 5.158 | 06-25-42 | | 43,055 | 43,704 |
| Asset backed securities 5.4% | | | | | $6,102,653 |
| (Cost $6,521,672) | | | | | |
| Asset backed securities 5.4% | | | 6,102,653 |
| AIG CLO, Ltd. | | | | | |
| Series 2019-2A, Class CR (3 month LIBOR + 2.000%) (C)(J) | 4.783 | 10-25-33 | | 250,000 | 233,826 |
| Aligned Data Centers Issuer LLC | | | | | |
| Series 2021-1A, Class A2 (C) | 1.937 | 08-15-46 | | 180,000 | 158,489 |
| Apidos CLO XXXII | | | | | |
| Series 2019-32A, Class D (3 month LIBOR + 3.500%) (C)(J) | 6.210 | 01-20-33 | | 250,000 | 239,733 |
| Bain Capital Credit CLO, Ltd. | | | | | |
| Series 2020-4A, Class B (3 month LIBOR + 1.950%) (C)(J) | 4.660 | 10-20-33 | | 250,000 | 242,084 |
| Series 2020-5A, Class D (3 month LIBOR + 3.550%) (C)(J) | 6.260 | 01-20-32 | | 250,000 | 235,886 |
| Bayview Opportunity Master Fund IVa Trust | | | | | |
| Series 2017-RT5, Class A (C)(I) | 3.500 | 05-28-69 | | 139,985 | 135,874 |
| Bayview Opportunity Master Fund IVb Trust | | | | | |
| Series 2017-RT6, Class B2 (C)(I) | 4.000 | 10-28-57 | | 100,000 | 91,729 |
| Benefit Street Partners CLO XIX, Ltd. | | | | | |
| Series 2019-19A, Class E (3 month LIBOR + 7.020%) (C)(J) | 9.532 | 01-15-33 | | 250,000 | 227,223 |
| Bojangles Issuer LLC | | | | | |
| Series 2020-1A, Class A2 (C) | 3.832 | 10-20-50 | | 29,850 | 27,455 |
| BSPRT Issuer, Ltd. | | | | | |
| Series 2021-FL6, Class A (1 month LIBOR + 1.100%) (C)(J) | 3.491 | 03-15-36 | | 115,000 | 112,577 |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK OPPORTUNISTIC FIXED INCOME FUND | 33 |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Asset backed securities (continued) | | | |
| Credit Acceptance Auto Loan Trust | | | | | |
| Series 2021-3A, Class A (C) | 1.000 | 05-15-30 | | 250,000 | $238,852 |
| DataBank Issuer | | | | | |
| Series 2021-1A, Class B (C) | 2.650 | 02-27-51 | | 40,000 | 35,035 |
| DB Master Finance LLC | | | | | |
| Series 2017-1A, Class A2II (C) | 4.030 | 11-20-47 | | 47,750 | 44,734 |
| Exeter Automobile Receivables Trust | | | | | |
| Series 2020-1A, Class C (C) | 2.490 | 01-15-25 | | 29,926 | 29,894 |
| First Investors Auto Owner Trust | | | | | |
| Series 2021-2A, Class D (C) | 1.660 | 12-15-27 | | 190,000 | 169,861 |
| FirstKey Homes Trust | | | | | |
| Series 2021-SFR2, Class E2 (C) | 2.358 | 09-17-38 | | 115,000 | 97,195 |
| Flatiron CLO XX, Ltd. | | | | | |
| Series 2020-1A, Class B (3 month LIBOR + 1.750%) (C)(J) | 4.734 | 11-20-33 | | 100,000 | 97,624 |
| FS Rialto | | | | | |
| Series 2021-FL3, Class A (1 month LIBOR + 1.250%) (C)(J) | 3.637 | 11-16-36 | | 105,000 | 101,081 |
| Greystone Commercial Real Estate Notes, Ltd. | | | | | |
| Series 2021-FL3, Class B (1 month LIBOR + 1.650%) (C)(J) | 4.041 | 07-15-39 | | 100,000 | 92,409 |
| Hertz Vehicle Financing LLC | | | | | |
| Series 2022-4A, Class C (C) | 4.610 | 09-25-26 | | 105,000 | 101,143 |
| Home Partners of America Trust | | | | | |
| Series 2021-2, Class A (C) | 1.901 | 12-17-26 | | 119,412 | 106,630 |
| JFIN CLO, Ltd. | | | | | |
| Series 2016-1A, Class DR (3 month LIBOR + 3.400%) (C)(J) | 6.169 | 10-27-28 | | 150,000 | 143,988 |
| LAD Auto Receivables Trust | | | | | |
| Series 2021-1A, Class B (C) | 1.940 | 11-16-26 | | 40,000 | 37,635 |
| Lendbuzz Securitization Trust | | | | | |
| Series 2021-1A, Class A (C) | 1.460 | 06-15-26 | | 71,511 | 69,298 |
| Madison Park Funding XXXII, Ltd. | | | | | |
| Series 2018-32A, Class CR (3 month LIBOR + 2.000%) (C)(J) | 4.759 | 01-22-31 | | 250,000 | 236,697 |
| Mercury Financial Credit Card Master Trust | | | | | |
| Series 2022-1A, Class A (C) | 2.500 | 09-21-26 | | 125,000 | 119,277 |
| MF1, Ltd. | | | | | |
| Series 2022-FL8, Class AS (1 month SOFR + 1.750%) (C)(J) | 3.783 | 02-19-37 | | 100,000 | 96,749 |
| Neuberger Berman Loan Advisers CLO, Ltd. | | | | | |
| Series 2017-26A, Class BR (3 month LIBOR + 1.400%) (C)(J) | 4.140 | 10-18-30 | | 250,000 | 241,216 |
| Palmer Square Loan Funding, Ltd. | | | | | |
| Series 2021-4A, Class C (3 month LIBOR + 2.600%) (C)(J) | 5.112 | 10-15-29 | | 250,000 | 228,880 |
| Series 2022-2A, Class C (3 month CME Term SOFR + 3.100%) (C)(J) | 4.188 | 10-15-30 | | 250,000 | 233,499 |
| 34 | JOHN HANCOCK OPPORTUNISTIC FIXED INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Asset backed securities (continued) | | | |
| Pretium Mortgage Credit Partners LLC | | | | | |
| Series 2021-RN1, Class A2 (3.598% to 6-25-25, then 7.598% thereafter) (C) | 3.598 | 02-25-61 | | 100,000 | $93,037 |
| Progress Residential Trust | | | | | |
| Series 2020-SFR3, Class E (C) | 2.296 | 10-17-27 | | 100,000 | 90,664 |
| Series 2021-SFR2, Class E1 (C) | 2.547 | 04-19-38 | | 100,000 | 86,994 |
| Series 2021-SFR3, Class D (C) | 2.288 | 05-17-26 | | 100,000 | 87,557 |
| Series 2021-SFR8, Class E2 (C) | 2.532 | 10-17-38 | | 125,000 | 107,519 |
| Series 2022-SFR5, Class D (C) | 5.734 | 06-17-39 | | 100,000 | 98,779 |
| Sixth Street CLO XVI, Ltd. | | | | | |
| Series 2020-16A, Class E (3 month LIBOR + 7.320%) (C)(J) | 10.030 | 10-20-32 | | 150,000 | 138,859 |
| Sonic Capital LLC | | | | | |
| Series 2020-1A, Class A2I (C) | 3.845 | 01-20-50 | | 44,100 | 40,456 |
| Sound Point CLO XXVIII, Ltd. | | | | | |
| Series 2020-3A, Class C (3 month LIBOR + 2.250%) (C)(J) | 5.033 | 01-25-32 | | 250,000 | 232,732 |
| STWD, Ltd. | | | | | |
| Series 2021-FL2, Class A (1 month LIBOR + 1.200%) (C)(J) | 3.577 | 04-18-38 | | 143,000 | 140,007 |
| Taco Bell Funding LLC | | | | | |
| Series 2021-1A, Class A2I (C) | 1.946 | 08-25-51 | | 69,475 | 60,353 |
| Textainer Marine Containers, Ltd. | | | | | |
| Series 2021-3A, Class A (C) | 1.940 | 08-20-46 | | 92,000 | 78,855 |
| Tricon American Homes Trust | | | | | |
| Series 2020-SFR2, Class E1 (C) | 2.730 | 11-17-39 | | 100,000 | 85,701 |
| TRTX Issuer, Ltd. | | | | | |
| Series 2019-FL3, Class D (1 month CME Term SOFR + 2.564%) (C)(J) | 4.861 | 10-15-34 | | 100,000 | 97,739 |
| Vantage Data Centers LLC | | | | | |
| Series 2019-1A, Class A2 (C) | 3.188 | 07-15-44 | | 33,950 | 32,785 |
| Venture XIII CLO, Ltd. | | | | | |
| Series 2013-13A, Class DR (3 month LIBOR + 3.300%) (C)(J) | 4.988 | 09-10-29 | | 175,000 | 158,434 |
| VOLT C LLC | | | | | |
| Series 2021-NPL9, Class A1 (1.992% to 4-25-24, then 4.992% to 4-25-25, then 5.992% thereafter) (C) | 1.992 | 05-25-51 | | 77,271 | 72,128 |
| VOLT XCIV LLC | | | | | |
| Series 2021-NPL3, Class A1 (2.240% to 1-25-24, then 5.239% to 1-25-25, then 6.239% thereafter) (C) | 2.240 | 02-27-51 | | 68,758 | 65,402 |
| VOLT XCV LLC | | | | | |
| Series 2021-NPL4, Class A1 (2.240% to 2-25-24, then 5.240% to 2-25-25, then 6.240% thereafter) (C) | 2.240 | 03-27-51 | | 113,513 | 108,079 |
|
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK OPPORTUNISTIC FIXED INCOME FUND | 35 |
| | | | | Shares | Value |
| Common stocks 0.0% | | | | | $8,695 |
| (Cost $20,742) | | | | | |
| United States 0.0% | | | | | 8,695 |
| Paragon Offshore PLC, Litigation Trust A (D)(H) | | | 2,695 | 270 |
| Paragon Offshore PLC, Litigation Trust B (D)(H) | | | 1,348 | 8,425 |
|
| Southcross Holdings GP, Class A (D)(H) | | | 246 | 0 |
| Preferred securities 0.0% | | | | | $50,602 |
| (Cost $53,295) | | | | | |
| United States 0.0% | | | | | 50,602 |
| Becton, Dickinson and Company, 6.000% | | | 976 | 49,288 |
| Fluor Corp., 6.500% | | | 1 | 1,314 |
|
| | | | | Par value^ | Value |
| Escrow certificates 0.0% | | | | $46 |
| (Cost $491,686) | | | | | |
| Alta Mesa Holdings LP (D)(H) | | 460,000 | 46 |
| Texas Competitive Electric Holdings Company LLC (D)(H) | | 10,820,544 | 0 |
|
| | | Yield (%) | | Shares | Value |
| Short-term investments 3.5% | | | | $3,998,427 |
| (Cost $3,998,427) | | | | | |
| Short-term funds 3.5% | | | | | 3,998,427 |
| State Street Institutional U.S. Government Money Market Fund, Premier Class | 2.2409(K) | | 3,998,427 | 3,998,427 |
|
| Total investments (Cost $129,780,395) 97.4% | | | $110,631,167 |
| Other assets and liabilities, net 2.6% | | | 2,903,618 |
| Total net assets 100.0% | | | | | $113,534,785 |
| | Rate (%) | Maturity date | | Par value^ | Value |
| Sale commitments outstanding (0.3)% | $(370,157) |
| (Proceeds received $380,893) | | | | | |
| U.S. Government Agency (0.3)% | | | | (370,157) |
Federal National Mortgage Association
30 Yr Pass Thru (A) | 3.000 | TBA | | (400,000) | (370,157) |
| The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund. |
| ^All par values are denominated in U.S. dollars unless otherwise indicated. |
| Currency Abbreviations |
| AUD | Australian Dollar |
| BRL | Brazilian Real |
| CLP | Chilean Peso |
| COP | Colombian Peso |
| CZK | Czech Republic Koruna |
| 36 | JOHN HANCOCK OPPORTUNISTIC FIXED INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
| EUR | Euro |
| GBP | Pound Sterling |
| HUF | Hungarian Forint |
| IDR | Indonesian Rupiah |
| ISK | Icelandic Krona |
| JPY | Japanese Yen |
| KRW | Korean Won |
| MXN | Mexican Peso |
| MYR | Malaysian Ringgit |
| NZD | New Zealand Dollar |
| PEN | Peruvian Nuevo Sol |
| PLN | Polish Zloty |
| RON | Romanian New Leu |
| RUB | Russian Ruble |
| THB | Thai Bhat |
| ZAR | South African Rand |
| Security Abbreviations and Legend |
| CME | Chicago Mercantile Exchange |
| CMT | Constant Maturity Treasury |
| CPI | Consumer Price Index |
| EURIBOR | Euro Interbank Offered Rate |
| GO | General Obligation |
| ICE | Intercontinental Exchange |
| IO | Interest-Only Security - (Interest Tranche of Stripped Mortgage Pool). Rate shown is the annualized yield at the end of the period. |
| LIBOR | London Interbank Offered Rate |
| PIK | Pay-in-Kind Security - Represents a payment-in-kind which may pay interest in additional par and/or cash. Rates shown are the current rate and most recent payment rate. |
| SOFR | Secured Overnight Financing Rate |
| TBA | To Be Announced. A forward mortgage-backed securities trade issued by a U.S. Government Agency, to be delivered at an agreed-upon future settlement date. |
| (A) | Security purchased or sold on a when-issued or delayed delivery basis. |
| (B) | Zero coupon bonds are issued at a discount from their principal amount in lieu of paying interest periodically. Rate shown is the effective yield at period end. |
| (C) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. Rule 144A securities amounted to $26,527,947 or 23.4% of the fund’s net assets as of 8-31-22. |
| (D) | Non-income producing security. |
| (E) | Non-income producing - Issuer is in default. |
| (F) | Perpetual bonds have no stated maturity date. Date shown as maturity date is next call date. |
| (G) | Term loans are variable rate obligations. The coupon rate shown represents the rate at period end. |
| (H) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements. |
| (I) | Variable or floating rate security, the interest rate of which adjusts periodically based on a weighted average of interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of period end. |
| (J) | Variable rate obligation. The coupon rate shown represents the rate at period end. |
| (K) | The rate shown is the annualized seven-day yield as of 8-31-22. |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK OPPORTUNISTIC FIXED INCOME FUND | 37 |
| * | Yield represents either the annualized yield at the date of purchase, the stated coupon rate or, for floating rate securities, the rate at period end. |
| 38 | JOHN HANCOCK OPPORTUNISTIC FIXED INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
DERIVATIVES
FUTURES
| Open contracts | Number of
contracts | Position | Expiration
date | Notional
basis^ | Notional
value^ | Unrealized
appreciation
(depreciation) |
| 10-Year Australian Treasury Bond Futures | 16 | Long | Sep 2022 | $1,303,360 | $1,309,247 | $5,887 |
| 10-Year U.S. Treasury Note Futures | 67 | Long | Dec 2022 | 7,859,829 | 7,832,719 | (27,110) |
| 2-Year U.S. Treasury Note Futures | 1 | Long | Dec 2022 | 208,666 | 208,328 | (338) |
| 5-Year U.S. Treasury Note Futures | 125 | Long | Dec 2022 | 13,899,615 | 13,852,539 | (47,076) |
| Ultra U.S. Treasury Bond Futures | 25 | Long | Dec 2022 | 3,709,941 | 3,737,500 | 27,559 |
| 10-Year Canada Government Bond Futures | 1 | Short | Dec 2022 | (95,319) | (94,864) | 455 |
| 10-Year Japan Government Bond Future | 7 | Short | Sep 2022 | (7,488,782) | (7,534,353) | (45,571) |
| 5-Year Canada Government Bond Futures | 1 | Short | Dec 2022 | (86,205) | (85,864) | 341 |
| Euro-BTP Italian Government Bond Futures | 14 | Short | Sep 2022 | (1,799,743) | (1,681,423) | 118,320 |
| Euro-Buxl Futures | 22 | Short | Sep 2022 | (3,819,949) | (3,639,126) | 180,823 |
| German Euro BOBL Futures | 6 | Short | Sep 2022 | (750,944) | (742,136) | 8,808 |
| German Euro BUND Futures | 23 | Short | Sep 2022 | (3,481,362) | (3,420,209) | 61,153 |
| U.K. Long Gilt Bond Futures | 1 | Short | Dec 2022 | (127,739) | (125,382) | 2,357 |
| U.S. Treasury Long Bond Futures | 54 | Short | Dec 2022 | (7,344,347) | (7,335,563) | 8,784 |
| | | | | | | $294,392 |
^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.
FORWARD FOREIGN CURRENCY CONTRACTS
| Contract to buy | Contract to sell | Counterparty (OTC) | Contractual
settlement
date | Unrealized
appreciation | Unrealized
depreciation |
| AUD | 45,000 | USD | 32,040 | MSI | 9/21/2022 | — | $(1,240) |
| AUD | 2,381,000 | USD | 1,665,900 | MSI | 9/30/2022 | — | (35,990) |
| BRL | 25,348,000 | USD | 4,949,253 | CITI | 9/2/2022 | — | (76,888) |
| BRL | 2,019,000 | USD | 375,997 | GSI | 9/2/2022 | $12,093 | — |
| BRL | 280,000 | USD | 54,064 | JPM | 9/2/2022 | — | (243) |
| BRL | 24,199,000 | USD | 4,621,222 | MSI | 9/2/2022 | 30,286 | — |
| BRL | 4,178,000 | USD | 813,790 | CITI | 10/4/2022 | — | (16,976) |
| CAD | 65,000 | USD | 50,344 | JPM | 9/21/2022 | — | (858) |
| CAD | 710,000 | USD | 548,560 | BARC | 9/29/2022 | — | (8,072) |
| CHF | 1,439,000 | USD | 1,498,836 | JPM | 9/30/2022 | — | (23,430) |
| CLP | 5,900,000 | USD | 6,300 | BOA | 9/21/2022 | 259 | — |
| CLP | 29,200,000 | USD | 33,197 | CITI | 9/21/2022 | — | (732) |
| CNH | 195,000 | USD | 29,089 | GSI | 9/21/2022 | — | (855) |
| CNH | 575,000 | USD | 85,585 | MSI | 9/21/2022 | — | (2,332) |
| COP | 335,500,000 | USD | 78,034 | CITI | 9/21/2022 | — | (2,500) |
| COP | 1,417,800,000 | USD | 325,034 | GSI | 9/21/2022 | — | (5,834) |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK OPPORTUNISTIC FIXED INCOME FUND | 39 |
FORWARD FOREIGN CURRENCY CONTRACTS (continued)
| Contract to buy | Contract to sell | Counterparty (OTC) | Contractual
settlement
date | Unrealized
appreciation | Unrealized
depreciation |
| COP | 94,300,000 | USD | 21,291 | MSI | 9/21/2022 | — | $(61) |
| COP | 1,417,800,000 | USD | 326,306 | SSB | 9/21/2022 | — | (7,106) |
| COP | 7,335,612,000 | USD | 1,672,087 | MSI | 9/30/2022 | — | (22,729) |
| CZK | 390,000 | USD | 16,142 | BARC | 9/21/2022 | — | (188) |
| CZK | 2,391,000 | USD | 98,583 | GSI | 9/21/2022 | — | (773) |
| CZK | 8,510,000 | USD | 349,014 | MSI | 9/21/2022 | — | (891) |
| EGP | 4,820,000 | USD | 247,306 | CITI | 9/21/2022 | — | (2,781) |
| EUR | 79,000 | USD | 80,221 | BOA | 9/21/2022 | — | (731) |
| EUR | 38,000 | USD | 38,024 | BARC | 9/21/2022 | $212 | — |
| EUR | 111,000 | USD | 113,447 | CITI | 9/21/2022 | — | (1,759) |
| EUR | 34,000 | USD | 34,137 | JPM | 9/21/2022 | 74 | — |
| EUR | 58,000 | USD | 59,505 | MSI | 9/21/2022 | — | (1,146) |
| EUR | 2,849,000 | USD | 2,841,715 | GSI | 9/30/2022 | 26,649 | — |
| EUR | 319,000 | USD | 318,766 | JPM | 9/30/2022 | 2,402 | — |
| EUR | 76,000 | USD | 75,577 | MSI | 9/30/2022 | 940 | — |
| GBP | 23,000 | USD | 27,588 | BARC | 9/21/2022 | — | (859) |
| GBP | 20,000 | USD | 23,529 | JPM | 9/21/2022 | — | (287) |
| GBP | 1,332,000 | USD | 1,567,918 | JPM | 9/30/2022 | — | (19,715) |
| HUF | 3,200,000 | USD | 7,792 | BOA | 9/21/2022 | 200 | — |
| HUF | 78,900,000 | USD | 196,008 | BARC | 9/21/2022 | 1,047 | — |
| HUF | 2,700,000 | USD | 6,862 | CITI | 9/21/2022 | — | (119) |
| HUF | 33,800,000 | USD | 84,017 | GSI | 9/21/2022 | 400 | — |
| HUF | 6,100,000 | USD | 15,457 | JPM | 9/21/2022 | — | (222) |
| HUF | 667,182,000 | USD | 1,598,290 | BOA | 9/30/2022 | 64,317 | — |
| IDR | 881,000,000 | USD | 59,923 | CITI | 9/21/2022 | — | (660) |
| IDR | 830,000,000 | USD | 55,311 | GSI | 9/21/2022 | 522 | — |
| IDR | 14,914,000,000 | USD | 988,271 | JPM | 9/21/2022 | 14,968 | — |
| IDR | 24,404,823,000 | USD | 1,641,819 | CITI | 9/30/2022 | — | (472) |
| INR | 6,360,000 | USD | 79,318 | GSI | 9/21/2022 | 541 | — |
| INR | 5,450,000 | USD | 68,502 | JPM | 9/21/2022 | — | (69) |
| INR | 11,234,000 | USD | 140,180 | CITI | 9/30/2022 | 764 | — |
| JPY | 605,770,000 | USD | 4,430,123 | JPM | 9/30/2022 | — | (60,100) |
| MXN | 920,000 | USD | 43,880 | BOA | 9/21/2022 | 1,623 | — |
| MXN | 2,366,000 | USD | 115,077 | CITI | 9/21/2022 | 1,943 | — |
| MXN | 6,629,000 | USD | 322,802 | GSI | 9/21/2022 | 5,059 | — |
| MXN | 390,000 | USD | 19,339 | JPM | 9/21/2022 | — | (50) |
| MXN | 34,188,000 | USD | 1,707,147 | CITI | 9/30/2022 | — | (19,145) |
| NOK | 17,790,000 | USD | 1,838,947 | BARC | 9/30/2022 | — | (47,907) |
| NZD | 35,000 | USD | 21,828 | JPM | 9/21/2022 | — | (414) |
| NZD | 1,715,000 | USD | 1,066,773 | MSI | 9/30/2022 | — | (17,488) |
| PEN | 345,000 | USD | 89,633 | CITI | 9/21/2022 | — | (136) |
| PHP | 2,820,000 | USD | 50,067 | CITI | 9/21/2022 | 40 | — |
| 40 | JOHN HANCOCK OPPORTUNISTIC FIXED INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
FORWARD FOREIGN CURRENCY CONTRACTS (continued)
| Contract to buy | Contract to sell | Counterparty (OTC) | Contractual
settlement
date | Unrealized
appreciation | Unrealized
depreciation |
| PHP | 3,410,000 | USD | 60,402 | GSI | 9/21/2022 | $188 | — |
| PHP | 35,462,000 | USD | 631,311 | CITI | 9/30/2022 | — | $(1,673) |
| PLN | 315,000 | USD | 66,947 | BARC | 9/21/2022 | — | (128) |
| PLN | 1,720,000 | USD | 366,755 | CITI | 9/21/2022 | — | (1,902) |
| PLN | 1,091,000 | USD | 232,068 | MSI | 9/21/2022 | — | (641) |
| RON | 130,000 | USD | 26,615 | BARC | 9/21/2022 | 285 | — |
| RON | 1,675,000 | USD | 343,596 | CITI | 9/21/2022 | 3,007 | — |
| RON | 380,000 | USD | 78,461 | GSI | 9/21/2022 | 171 | — |
| SEK | 26,022,000 | USD | 2,448,553 | MSI | 9/30/2022 | — | (4,148) |
| SGD | 510,000 | USD | 363,440 | BOA | 9/21/2022 | 1,537 | — |
| SGD | 310,000 | USD | 224,297 | MSI | 9/21/2022 | — | (2,448) |
| THB | 1,130,000 | USD | 31,547 | BOA | 9/21/2022 | — | (524) |
| THB | 38,040,000 | USD | 1,059,493 | CITI | 9/21/2022 | — | (15,141) |
| THB | 2,060,000 | USD | 58,233 | GSI | 9/21/2022 | — | (1,678) |
| THB | 35,437,000 | USD | 985,711 | JPM | 9/30/2022 | — | (12,331) |
| TRY | 440,000 | USD | 23,049 | BARC | 9/21/2022 | 797 | — |
| TRY | 2,485,000 | USD | 135,349 | JPM | 9/21/2022 | — | (674) |
| TRY | 7,114,000 | USD | 381,072 | GSI | 9/30/2022 | 1,673 | — |
| USD | 24,304 | AUD | 35,000 | GSI | 9/21/2022 | 349 | — |
| USD | 30,283 | AUD | 45,000 | JPM | 9/21/2022 | — | (517) |
| USD | 27,121 | AUD | 40,000 | MSI | 9/21/2022 | — | (257) |
| USD | 5,209,698 | AUD | 7,446,000 | MSI | 9/30/2022 | 112,549 | — |
| USD | 4,911,237 | BRL | 25,348,000 | CITI | 9/2/2022 | 38,870 | — |
| USD | 388,139 | BRL | 2,019,000 | GSI | 9/2/2022 | 49 | — |
| USD | 50,908 | BRL | 280,000 | JPM | 9/2/2022 | — | (2,913) |
| USD | 4,555,834 | BRL | 24,199,000 | MSI | 9/2/2022 | — | (95,673) |
| USD | 3,059,646 | BRL | 15,704,000 | CITI | 10/4/2022 | 64,630 | — |
| USD | 477,728 | BRL | 2,491,000 | CITI | 12/2/2022 | 9,363 | — |
| USD | 49,785 | CAD | 65,000 | MSI | 9/21/2022 | 300 | — |
| USD | 1,686,629 | CAD | 2,183,000 | BARC | 9/29/2022 | 24,819 | — |
| USD | 14,253 | CLP | 13,503,000 | BOA | 9/21/2022 | — | (760) |
| USD | 40,268 | CLP | 36,100,000 | CITI | 9/21/2022 | 131 | — |
| USD | 28,509 | CLP | 28,295,000 | MSI | 9/21/2022 | — | (2,950) |
| USD | 589,078 | CLP | 543,177,000 | SSB | 9/30/2022 | — | (13,866) |
| USD | 27,728 | CNH | 187,000 | GSI | 9/21/2022 | 653 | — |
| USD | 29,607 | CNH | 200,000 | MSI | 9/21/2022 | 650 | — |
| USD | 1,699,962 | CNH | 11,692,000 | BOA | 9/30/2022 | 6,990 | — |
| USD | 37,116 | COP | 162,200,000 | BOA | 9/21/2022 | 599 | — |
| USD | 932,134 | COP | 4,116,900,000 | CITI | 9/21/2022 | 5,265 | — |
| USD | 16,662 | COP | 70,920,000 | JPM | 9/21/2022 | 695 | — |
| USD | 94,359 | COP | 411,580,000 | SSB | 9/21/2022 | 1,697 | — |
| USD | 201,158 | COP | 882,500,000 | MSI | 9/30/2022 | 2,734 | — |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK OPPORTUNISTIC FIXED INCOME FUND | 41 |
FORWARD FOREIGN CURRENCY CONTRACTS (continued)
| Contract to buy | Contract to sell | Counterparty (OTC) | Contractual
settlement
date | Unrealized
appreciation | Unrealized
depreciation |
| USD | 55,600 | CZK | 1,350,000 | BOA | 9/21/2022 | $375 | — |
| USD | 33,784 | CZK | 820,000 | BARC | 9/21/2022 | 240 | — |
| USD | 150,508 | CZK | 3,690,000 | CITI | 9/21/2022 | — | $(441) |
| USD | 113,244 | CZK | 2,780,000 | MSI | 9/21/2022 | — | (479) |
| USD | 1,831,510 | CZK | 45,633,000 | JPM | 9/30/2022 | — | (33,187) |
| USD | 73,317 | EGP | 1,470,000 | CITI | 9/29/2022 | — | (507) |
| USD | 72,035 | EUR | 70,000 | BOA | 9/21/2022 | 1,601 | — |
| USD | 41,666 | EUR | 41,000 | BARC | 9/21/2022 | 411 | — |
| USD | 4,014 | EUR | 4,000 | CITI | 9/21/2022 | — | (11) |
| USD | 68,044 | EUR | 68,000 | GSI | 9/21/2022 | — | (378) |
| USD | 193,461 | EUR | 189,000 | JPM | 9/21/2022 | 3,288 | — |
| USD | 6,996 | EUR | 7,000 | MSI | 9/21/2022 | — | (47) |
| USD | 60,245 | EUR | 60,000 | BOA | 9/30/2022 | — | (163) |
| USD | 12,176,379 | EUR | 12,207,594 | GSI | 9/30/2022 | — | (114,188) |
| USD | 220,643 | EUR | 221,000 | JPM | 9/30/2022 | — | (1,858) |
| USD | 89,118 | EUR | 89,000 | MSI | 9/30/2022 | — | (487) |
| USD | 35,171 | GBP | 30,000 | BOA | 9/21/2022 | 307 | — |
| USD | 98,320 | GBP | 82,000 | JPM | 9/21/2022 | 3,027 | — |
| USD | 575,609 | GBP | 489,000 | JPM | 9/30/2022 | 7,238 | — |
| USD | 8,465 | HUF | 3,329,000 | BARC | 9/21/2022 | 151 | — |
| USD | 28,736 | HUF | 11,824,000 | GSI | 9/21/2022 | — | (795) |
| USD | 29,653 | HUF | 11,824,000 | JPM | 9/21/2022 | 123 | — |
| USD | 53,095 | HUF | 21,200,000 | MSI | 9/21/2022 | 148 | — |
| USD | 132,476 | HUF | 55,300,000 | BOA | 9/30/2022 | — | (5,331) |
| USD | 67,287 | IDR | 1,010,000,000 | BARC | 9/21/2022 | — | (654) |
| USD | 790,890 | IDR | 11,913,000,000 | CITI | 9/21/2022 | — | (10,477) |
| USD | 9,318 | IDR | 139,000,000 | GSI | 9/21/2022 | — | (33) |
| USD | 20,908 | IDR | 318,000,000 | MSI | 9/21/2022 | — | (483) |
| USD | 1,870,497 | IDR | 27,804,000,000 | CITI | 9/30/2022 | 538 | — |
| USD | 79,393 | INR | 6,330,000 | CITI | 9/21/2022 | — | (89) |
| USD | 33,903 | INR | 2,720,000 | JPM | 9/21/2022 | — | (251) |
| USD | 34,556 | INR | 2,760,000 | MSI | 9/21/2022 | — | (100) |
| USD | 1,619,503 | INR | 129,625,000 | MSI | 9/30/2022 | — | (6,793) |
| USD | 5,967,213 | JPY | 815,950,000 | JPM | 9/30/2022 | 80,953 | — |
| USD | 10,838,623 | KRW | 14,548,467,000 | JPM | 9/30/2022 | — | (3,185) |
| USD | 107,357 | MXN | 2,210,000 | CITI | 9/21/2022 | — | (1,947) |
| USD | 126,315 | MXN | 2,613,000 | MSI | 9/21/2022 | — | (2,921) |
| USD | 2,014,241 | MXN | 40,338,000 | CITI | 9/30/2022 | 22,589 | — |
| USD | 447,281 | NOK | 4,327,000 | BARC | 9/30/2022 | 11,652 | — |
| USD | 61,398 | NZD | 100,000 | BOA | 9/21/2022 | 216 | — |
| USD | 25,089 | NZD | 40,000 | JPM | 9/21/2022 | 616 | — |
| USD | 672,805 | NZD | 1,088,000 | CITI | 9/30/2022 | 7,136 | — |
| 42 | JOHN HANCOCK OPPORTUNISTIC FIXED INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
FORWARD FOREIGN CURRENCY CONTRACTS (continued)
| Contract to buy | Contract to sell | Counterparty (OTC) | Contractual
settlement
date | Unrealized
appreciation | Unrealized
depreciation |
| USD | 6,673,625 | NZD | 10,728,000 | MSI | 9/30/2022 | $109,938 | — |
| USD | 32,976 | PEN | 128,000 | CITI | 9/21/2022 | — | $(229) |
| USD | 43,917 | PEN | 170,000 | GSI | 9/21/2022 | — | (183) |
| USD | 202,467 | PEN | 788,000 | JPM | 9/21/2022 | — | (1,951) |
| USD | 46,699 | PEN | 185,000 | SSB | 9/21/2022 | — | (1,292) |
| USD | 1,412,338 | PEN | 5,481,000 | SSB | 9/30/2022 | — | (8,139) |
| USD | 99,955 | PHP | 5,580,000 | CITI | 9/21/2022 | 808 | — |
| USD | 28,297 | PHP | 1,590,000 | GSI | 9/21/2022 | 45 | — |
| USD | 39,839 | PHP | 2,230,000 | JPM | 9/21/2022 | 216 | — |
| USD | 11,873 | PLN | 55,000 | GSI | 9/21/2022 | 206 | — |
| USD | 142,916 | PLN | 687,000 | MSI | 9/21/2022 | — | (2,813) |
| USD | 336,272 | PLN | 1,602,000 | BOA | 9/30/2022 | — | (3,013) |
| USD | 276,609 | PLN | 1,340,000 | BARC | 9/30/2022 | — | (7,187) |
| USD | 41,767 | RON | 199,000 | BARC | 9/21/2022 | 588 | — |
| USD | 39,301 | RON | 188,000 | GSI | 9/21/2022 | 399 | — |
| USD | 203,032 | RON | 1,005,000 | GSI | 9/30/2022 | — | (4,664) |
| USD | 46,529 | SGD | 65,000 | GSI | 9/21/2022 | 12 | — |
| USD | 172,173 | SGD | 240,000 | JPM | 9/21/2022 | 419 | — |
| USD | 43,561 | SGD | 60,000 | MSI | 9/21/2022 | 622 | — |
| USD | 1,691,103 | SGD | 2,357,000 | MSI | 9/30/2022 | 4,261 | — |
| USD | 430,904 | THB | 15,540,000 | JPM | 9/21/2022 | 4,268 | — |
| USD | 289,944 | THB | 10,440,000 | MSI | 9/21/2022 | 3,324 | — |
| USD | 344,917 | THB | 12,400,000 | JPM | 9/30/2022 | 4,315 | — |
| USD | 63,325 | TRY | 1,195,000 | BARC | 9/21/2022 | — | (1,438) |
| USD | 67,666 | TRY | 1,280,000 | GSI | 9/21/2022 | — | (1,704) |
| USD | 116,239 | TRY | 2,170,000 | GSI | 9/30/2022 | — | (510) |
| USD | 24,505 | UYU | 990,000 | CITI | 9/12/2022 | 311 | — |
| USD | 54,031 | UYU | 2,205,000 | JPM | 9/21/2022 | 266 | — |
| USD | 27,798 | ZAR | 469,000 | BARC | 9/21/2022 | 463 | — |
| USD | 165,498 | ZAR | 2,755,000 | GSI | 9/21/2022 | 4,931 | — |
| USD | 115,434 | ZAR | 1,947,000 | MSI | 9/21/2022 | 1,958 | — |
| USD | 1,486,613 | ZAR | 25,326,000 | BARC | 9/30/2022 | 11,821 | — |
| UYU | 990,000 | USD | 24,318 | JPM | 9/12/2022 | — | (124) |
| UYU | 4,400,000 | USD | 107,870 | CITI | 9/21/2022 | — | (584) |
| ZAR | 860,000 | USD | 51,005 | BOA | 9/21/2022 | — | (883) |
| ZAR | 2,340,000 | USD | 138,404 | GSI | 9/21/2022 | — | (2,021) |
| ZAR | 144,000 | USD | 8,465 | MSI | 9/21/2022 | — | (73) |
| | | | | | | $732,120 | $(761,595) |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK OPPORTUNISTIC FIXED INCOME FUND | 43 |
SWAPS
| Interest rate swaps |
Counterparty (OTC)/
Centrally cleared | Notional
amount | Currency | Payments
made | Payments
received | Fixed
payment
frequency | Floating
payment
frequency | Maturity
date | Unamortized
upfront
payment paid
(received) | Unrealized
appreciation
(depreciation) | Value |
| Centrally cleared | 510,000 | CAD | CAD CORRA Compounded OIS | Fixed 0.013% | Semi-Annual | Semi-Annual | Sep 2026 | — | $(33,979) | $(33,979) |
| Centrally cleared | 510,000 | CAD | CAD CORRA Compounded OIS | Fixed 0.013% | Semi-Annual | Semi-Annual | Sep 2026 | — | (34,104) | (34,104) |
| Centrally cleared | 1,290,000 | CAD | CAD BA CDOR | Fixed 1.269% | Semi-Annual | Semi-Annual | Sep 2026 | — | (93,256) | (93,256) |
| Centrally cleared | 880,000 | CAD | CAD CORRA Compounded OIS | Fixed 1.283% | Semi-Annual | Semi-Annual | Nov 2026 | — | (56,866) | (56,866) |
| Centrally cleared | 720,000 | CAD | CAD CORRA Compounded OIS | Fixed 1.266% | Semi-Annual | Semi-Annual | Nov 2026 | — | (46,904) | (46,904) |
| Centrally cleared | 3,270,000 | CAD | CAD CORRA Compounded OIS | Fixed 1.530% | Semi-Annual | Semi-Annual | Dec 2026 | — | (187,121) | (187,121) |
| Centrally cleared | 9,330,000 | MXN | MXN TIIE Banxico | Fixed 7.840% | Monthly | Monthly | Mar 2027 | $427 | (18,218) | (17,791) |
| Centrally cleared | 8,650,000 | NZD | NZD BBR FRA | Fixed 2.660% | Semi-Annual | Quarterly | Mar 2027 | (18,592) | (273,586) | (292,178) |
| Centrally cleared | 2,700,000 | NZD | NZD BBR FRA | Fixed 2.750% | Semi-Annual | Quarterly | Mar 2027 | 2,556 | (86,958) | (84,402) |
| Centrally cleared | 2,770,000 | NZD | NZD BBR FRA | Fixed 2.590% | Semi-Annual | Quarterly | Mar 2027 | 1,272 | (100,261) | (98,989) |
| Centrally cleared | 6,990,000 | CAD | CAD CORRA Compounded OIS | Fixed 1.512% | Semi-Annual | Semi-Annual | Mar 2027 | — | (405,447) | (405,447) |
| Centrally cleared | 631,420,000 | HUF | HUF BUBOR Reuters | Fixed 5.130% | Annual | Semi-Annual | Mar 2027 | 1,027 | (346,432) | (345,405) |
| Centrally cleared | 1,268,960,000 | HUF | HUF BUBOR Reuters | Fixed 5.000% | Annual | Semi-Annual | Mar 2027 | 7,218 | (714,066) | (706,848) |
| Centrally cleared | 329,070,000 | INR | Fixed 6.840% | INR MIBOR Compounded OIS | Semi-Annual | Semi-Annual | Sep 2027 | (8,916) | (57,571) | (66,487) |
| Centrally cleared | 107,150,000 | INR | Fixed 6.615% | INR MIBOR Compounded OIS | Semi-Annual | Semi-Annual | Sep 2027 | — | (8,969) | (8,969) |
| Centrally cleared | 109,860,000 | INR | Fixed 6.291% | INR MIBOR Compounded OIS | Semi-Annual | Semi-Annual | Sep 2027 | — | 9,555 | 9,555 |
| Centrally cleared | 52,440,000 | MXN | MXN TIIE Banxico | Fixed 7.340% | Monthly | Monthly | Mar 2032 | 974 | (234,782) | (233,808) |
| Centrally cleared | 5,230,000 | CAD | CAD BA CDOR | Fixed 3.389% | Semi-Annual | Semi-Annual | Sep 2037 | — | (73,161) | (73,161) |
| | | | | | | | | $(14,034) | $(2,762,126) | $(2,776,160) |
| 44 | JOHN HANCOCK OPPORTUNISTIC FIXED INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
| Credit default swaps - Buyer |
Counterparty
(OTC)/
Centrally
cleared | Reference
obligation | Notional
amount | Currency | USD
notional
amount | Pay
fixed
rate | Fixed
payment
frequency | Maturity
date | Unamortized
upfront
payment
paid
(received) | Unrealized
appreciation
(depreciation) | Value |
| BARC | Federative Republic of Brazil | 833,000 | USD | $833,000 | 1.000% | Quarterly | Dec 2026 | $43,779 | $(573) | $43,206 |
| JPM | Republic of Korea | 2,110,000 | USD | 2,110,000 | 1.000% | Quarterly | Dec 2024 | (33,345) | (6,637) | (39,982) |
| MSI | Government of Japan | 2,090,000 | USD | 2,090,000 | 1.000% | Quarterly | Dec 2024 | (35,179) | (11,208) | (46,387) |
| | | | | $5,033,000 | | | | $(24,745) | $(18,418) | $(43,163) |
| Centrally cleared | CDX.NA.HY.38 | 772,200 | USD | 772,200 | 5.000% | Quarterly | Jun 2027 | (19,506) | 21,823 | 2,317 |
| Centrally cleared | CDX.NA.IG.38 | 4,470,000 | USD | 4,470,000 | 1.000% | Quarterly | Jun 2027 | (43,864) | 20,474 | (23,390) |
| | | | | $5,242,200 | | | | $(63,370) | $42,297 | $(21,073) |
| | | | | $10,275,200 | | | | $(88,115) | $23,879 | $(64,236) |
| Total return swaps |
Pay/
receive
total
return* | Reference
entity | Floating/
fixed
rate | Payment
frequency | Currency | Notional
amount | Maturity
date | Counterparty
(OTC) | Unamortized
upfront
payment paid
(received) | Unrealized
appreciation
(depreciation) | Value |
| Pay | iBoxx $ Liquid Investment Grade Index | 1-Day USD Compounded SOFR | At Maturity | USD | 3,495,000 | Mar 2023 | GSI | — | $21,184 | $21,184 |
| Pay | iBoxx $ Liquid High Yield Index | 1-Day USD Compounded SOFR | At Maturity | USD | 500,000 | Sep 2022 | MSI | — | 9,945 | 9,945 |
| Pay | iBoxx $ Liquid High Yield Index | 1-Day USD Compounded SOFR | At Maturity | USD | 1,050,000 | Sep 2022 | MSI | — | 49,360 | 49,360 |
| Pay | iBoxx $ Liquid High Yield Index | 1-Day USD Compounded SOFR | At Maturity | USD | 2,930,000 | Mar 2023 | MSI | — | 123,499 | 123,499 |
| Pay | iBoxx $ Liquid Investment Grade Index | 1-Day USD Compounded SOFR | At Maturity | USD | 2,050,000 | Jun 2023 | MSI | — | 16,687 | 16,687 |
| | | | | | | | | — | $220,675 | $220,675 |
* Fund will pay or receive the total return of the reference asset depending on whether the return is positive or negative. For contracts where the fund has elected to receive the total return of the reference asset if positive, it will be responsible for paying the floating rate and the total return of the reference asset if negative. If the fund has elected to pay the total return of the reference asset if positive, it will receive the floating rate and the total return of the reference asset if negative.
| Inflation swaps |
Counterparty (OTC)/
Centrally
cleared | Notional
amount | Currency | USD notional
amount | Payments
made | Payments
received | Fixed
payment
frequency | Floating
payment
frequency | Maturity date | Unamortized
upfront
payment paid
(received) | Unrealized
appreciation
(depreciation) | Value |
| BARC | 390,000 | USD | $390,000 | USA CPI All Urban Consumers | Fixed 2.614% | At Maturity | At Maturity | Jun 2026 | — | $(36,721) | $(36,721) |
| BARC | 1,990,000 | USD | 1,990,000 | Fixed 3.243% | USA CPI All Urban Consumers | At Maturity | At Maturity | Apr 2027 | — | 32,848 | 32,848 |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK OPPORTUNISTIC FIXED INCOME FUND | 45 |
| Inflation swaps (continued) |
Counterparty (OTC)/
Centrally
cleared | Notional
amount | Currency | USD notional
amount | Payments
made | Payments
received | Fixed
payment
frequency | Floating
payment
frequency | Maturity date | Unamortized
upfront
payment paid
(received) | Unrealized
appreciation
(depreciation) | Value |
| BARC | 2,010,000 | USD | $2,010,000 | Fixed 3.243% | USA CPI All Urban Consumers | At Maturity | At Maturity | Apr 2027 | — | $33,178 | $33,178 |
| BARC | 3,910,000 | USD | 3,910,000 | Fixed 3.147% | USA CPI All Urban Consumers | At Maturity | At Maturity | Apr 2027 | — | 82,836 | 82,836 |
| BARC | 780,000 | USD | 780,000 | Fixed 2.875% | USA CPI All Urban Consumers | At Maturity | At Maturity | Feb 2052 | — | (50,915) | (50,915) |
| BOA | 810,000 | USD | 810,000 | USA CPI All Urban Consumers | Fixed 2.402% | At Maturity | At Maturity | Mar 2026 | — | (90,284) | (90,284) |
| CITI | 1,500,000 | USD | 1,500,000 | Fixed 2.793% | USA CPI All Urban Consumers | At Maturity | At Maturity | Feb 2052 | — | (59,823) | (59,823) |
| | | | $11,390,000 | | | | | | — | $(88,881) | $(88,881) |
| Derivatives Currency Abbreviations |
| AUD | Australian Dollar |
| BRL | Brazilian Real |
| CAD | Canadian Dollar |
| CHF | Swiss Franc |
| CLP | Chilean Peso |
| COP | Colombian Peso |
| CZK | Czech Republic Koruna |
| EGP | Egyptian Pound |
| EUR | Euro |
| GBP | Pound Sterling |
| HUF | Hungarian Forint |
| IDR | Indonesian Rupiah |
| INR | Indian Rupee |
| JPY | Japanese Yen |
| KRW | Korean Won |
| MXN | Mexican Peso |
| NOK | Norwegian Krone |
| NZD | New Zealand Dollar |
| PEN | Peruvian Nuevo Sol |
| PHP | Philippine Peso |
| PLN | Polish Zloty |
| RON | Romanian New Leu |
| SEK | Swedish Krona |
| SGD | Singapore Dollar |
| THB | Thai Bhat |
| TRY | Turkish Lira |
| USD | U.S. Dollar |
| UYU | Uruguayan Peso |
| ZAR | South African Rand |
| 46 | JOHN HANCOCK OPPORTUNISTIC FIXED INCOME FUND | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
| Derivatives Abbreviations |
| BARC | Barclays Bank PLC |
| BBR | Bank Bill Rate |
| BOA | Bank of America, N.A. |
| BUBOR | Budapest Interbank Offered Rate |
| CDOR | Canadian Dollar Offered Rate |
| CITI | Citibank, N.A. |
| CORRA | Canadian Overnight Repo Rate Average |
| CPI | Consumer Price Index |
| GSI | Goldman Sachs International |
| JPM | JPMorgan Chase Bank, N.A. |
| MIBOR | Mumbai Interbank Offered Rate |
| MSI | Morgan Stanley & Co. International PLC |
| OIS | Overnight Index Swap |
| OTC | Over-the-counter |
| SOFR | Secured Overnight Financing Rate |
| SSB | State Street Bank and Trust Company |
| TIIE | Tasa de Interes Interbancario de Equilibrio (Interbank Equilibrium Interest Rate) |
At 8-31-22, the aggregate cost of investments for federal income tax purposes was $130,784,880. Net unrealized depreciation aggregated to $22,967,555, of which $612,316 related to gross unrealized appreciation and $23,579,871 related to gross unrealized depreciation.
See Notes to financial statements regarding investment transactions and other derivatives information.
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK OPPORTUNISTIC FIXED INCOME FUND | 47 |
STATEMENT OF ASSETS AND LIABILITIES 8-31-22
| Assets | |
| Unaffiliated investments, at value (Cost $129,780,395) | $110,631,167 |
| Swap contracts, at value (net unamortized upfront payment of $43,779) | 412,743 |
| Receivable for centrally cleared swaps (including collateral of $340,000) | 312,152 |
| Unrealized appreciation on forward foreign currency contracts | 732,120 |
| Receivable for futures variation margin | 13,306 |
| Cash | 24,364 |
| Foreign currency, at value (Cost $232,383) | 223,624 |
| Collateral held at broker for futures contracts | 939,000 |
| Collateral segregated at custodian for OTC derivative contracts | 330,000 |
| Dividends and interest receivable | 976,872 |
| Receivable for fund shares sold | 9,482 |
| Receivable for investments sold | 2,735,413 |
| Receivable for delayed delivery securities sold | 829,240 |
| Receivable from affiliates | 3,605 |
| Other assets | 71,084 |
| Total assets | 118,244,172 |
| Liabilities | |
| Payable for sale commitments outstanding, at value (Proceeds received $380,893) | 370,157 |
| Unrealized depreciation on forward foreign currency contracts | 761,595 |
| Swap contracts, at value (net unamortized upfront payment of $68,524) | 324,112 |
| Payable for collateral on OTC derivatives | 680,000 |
| Payable for investments purchased | 1,346,112 |
| Payable for delayed delivery securities purchased | 828,191 |
| Payable for fund shares repurchased | 259,462 |
| Payable to affiliates | |
| Accounting and legal services fees | 4,219 |
| Transfer agent fees | 5,619 |
| Trustees’ fees | 107 |
| Other liabilities and accrued expenses | 129,813 |
| Total liabilities | 4,709,387 |
| Net assets | $113,534,785 |
| Net assets consist of | |
| Paid-in capital | $213,613,328 |
| Total distributable earnings (loss) | (100,078,543) |
| Net assets | $113,534,785 |
| |
| 48 | JOHN HANCOCK Opportunistic Fixed Income Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
STATEMENT OF ASSETS AND LIABILITIES (continued)
| Net asset value per share | |
| Based on net asset value and shares outstanding - the fund has an unlimited number of shares authorized with no par value | |
| Class A ($41,362,568 ÷ 3,617,116 shares)1 | $11.44 |
| Class C ($1,580,857 ÷ 137,943 shares)1 | $11.46 |
| Class I ($7,025,262 ÷ 614,756 shares) | $11.43 |
| Class R6 ($806,867 ÷ 70,615 shares) | $11.43 |
| Class 1 ($62,759,231 ÷ 5,497,243 shares) | $11.42 |
| Maximum offering price per share | |
| Class A (net asset value per share ÷ 95%)2 | $12.04 |
| 1 | Redemption price per share is equal to net asset value less any applicable contingent deferred sales charge. |
| 2 | On single retail sales of less than $50,000. On sales of $50,000 or more and on group sales the offering price is reduced. |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK Opportunistic Fixed Income Fund | 49 |
STATEMENT OF OPERATIONS For the year ended 8-31-22
| Investment income | |
| Interest | $4,720,823 |
| Dividends | 287,092 |
| Securities lending | 467 |
| Other income | 329 |
| Less foreign taxes withheld | (28,456) |
| Total investment income | 4,980,255 |
| Expenses | |
| Investment management fees | 827,543 |
| Distribution and service fees | 134,063 |
| Accounting and legal services fees | 21,560 |
| Transfer agent fees | 60,748 |
| Trustees’ fees | 366 |
| Custodian fees | 71,879 |
| State registration fees | 105,774 |
| Printing and postage | 11,694 |
| Professional fees | 246,250 |
| Other | 19,977 |
| Total expenses | 1,499,854 |
| Less expense reductions | (284,111) |
| Net expenses | 1,215,743 |
| Net investment income | 3,764,512 |
| Realized and unrealized gain (loss) | |
| Net realized gain (loss) on | |
| Unaffiliated investments and foreign currency transactions | (13,155,009) |
| Affiliated investments | (309) |
| Futures contracts | 4,364,687 |
| Forward foreign currency contracts | 1,952,324 |
| Swap contracts | 1,497,913 |
| | (5,340,394) |
| Change in net unrealized appreciation (depreciation) of | |
| Unaffiliated investments and translation of assets and liabilities in foreign currencies | (18,377,582) |
| Futures contracts | 224,494 |
| Forward foreign currency contracts | 119,330 |
| Swap contracts | (2,633,339) |
| | (20,667,097) |
| Net realized and unrealized loss | (26,007,491) |
| Decrease in net assets from operations | $(22,242,979) |
| 50 | JOHN HANCOCK Opportunistic Fixed Income Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
STATEMENTS OF CHANGES IN NET ASSETS
| | Year ended
8-31-22 | Year ended
8-31-21 |
| Increase (decrease) in net assets | | |
| From operations | | |
| Net investment income | $3,764,512 | $1,237,619 |
| Net realized gain (loss) | (5,340,394) | 781,476 |
| Change in net unrealized appreciation (depreciation) | (20,667,097) | (619,308) |
| Increase (decrease) in net assets resulting from operations | (22,242,979) | 1,399,787 |
| Distributions to shareholders | | |
| From earnings | | |
| Class A | (1,217,048) | — |
| Class C | (22,958) | — |
| Class I | (444,039) | — |
| Class R6 | (1,021,827) | — |
| Class 1 | (1,060,733) | (2,057,556) |
| Total distributions | (3,766,605) | (2,057,556) |
| From fund share transactions | | |
| Fund share transactions | (41,614,668) | 46,368,145 |
| Issued in reorganization | 94,289,023 | — |
| From fund share transactions | 52,674,355 | 46,368,145 |
| Total increase | 26,664,771 | 45,710,376 |
| Net assets | | |
| Beginning of year | 86,870,014 | 41,159,638 |
| End of year | $113,534,785 | $86,870,014 |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK Opportunistic Fixed Income Fund | 51 |
| CLASS A SHARES Period ended | 8-31-22 | 8-31-211 |
| Per share operating performance | | |
| Net asset value, beginning of period | $13.66 | $13.52 |
| Net investment income2 | 0.35 | 0.07 |
| Net realized and unrealized gain (loss) on investments | (2.30) | 0.07 |
| Total from investment operations | (1.95) | 0.14 |
| Less distributions | | |
| From net investment income | (0.27) | — |
| Net asset value, end of period | $11.44 | $13.66 |
| Total return (%)3,4 | (14.51) | 1.045 |
| Ratios and supplemental data | | |
| Net assets, end of period (in millions) | $41 | $—6 |
| Ratios (as a percentage of average net assets): | | |
| Expenses before reductions | 1.39 | 1.537 |
| Expenses including reductions | 1.17 | 1.167 |
| Net investment income | 2.88 | 2.227 |
| Portfolio turnover (%) | 1428 | 619 |
| 1 | The inception date for Class A shares is 6-4-21. |
| 2 | Based on average daily shares outstanding. |
| 3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
| 4 | Does not reflect the effect of sales charges, if any. |
| 5 | Not annualized. |
| 6 | Less than $500,000. |
| 7 | Annualized. |
| 8 | Excludes merger activity. |
| 9 | Portfolio turnover is shown for the period from 9-1-20 to 8-31-21. |
| 52 | JOHN HANCOCK Opportunistic Fixed Income Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
| CLASS C SHARES Period ended | 8-31-22 | 8-31-211 |
| Per share operating performance | | |
| Net asset value, beginning of period | $13.64 | $13.52 |
| Net investment income2 | 0.26 | 0.05 |
| Net realized and unrealized gain (loss) on investments | (2.32) | 0.07 |
| Total from investment operations | (2.06) | 0.12 |
| Less distributions | | |
| From net investment income | (0.12) | — |
| Net asset value, end of period | $11.46 | $13.64 |
| Total return (%)3,4 | (15.15) | 0.895 |
| Ratios and supplemental data | | |
| Net assets, end of period (in millions) | $2 | $—6 |
| Ratios (as a percentage of average net assets): | | |
| Expenses before reductions | 2.14 | 2.287 |
| Expenses including reductions | 1.92 | 1.917 |
| Net investment income | 2.12 | 1.527 |
| Portfolio turnover (%) | 1428 | 619 |
| 1 | The inception date for Class C shares is 6-4-21. |
| 2 | Based on average daily shares outstanding. |
| 3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
| 4 | Does not reflect the effect of sales charges, if any. |
| 5 | Not annualized. |
| 6 | Less than $500,000. |
| 7 | Annualized. |
| 8 | Excludes merger activity. |
| 9 | Portfolio turnover is shown for the period from 9-1-20 to 8-31-21. |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK Opportunistic Fixed Income Fund | 53 |
| CLASS I SHARES Period ended | 8-31-22 | 8-31-211 |
| Per share operating performance | | |
| Net asset value, beginning of period | $13.67 | $13.52 |
| Net investment income2 | 0.38 | 0.07 |
| Net realized and unrealized gain (loss) on investments | (2.31) | 0.08 |
| Total from investment operations | (1.93) | 0.15 |
| Less distributions | | |
| From net investment income | (0.31) | — |
| Net asset value, end of period | $11.43 | $13.67 |
| Total return (%)3 | (14.24) | 1.114 |
| Ratios and supplemental data | | |
| Net assets, end of period (in millions) | $7 | $—5 |
| Ratios (as a percentage of average net assets): | | |
| Expenses before reductions | 1.14 | 1.286 |
| Expenses including reductions | 0.92 | 0.916 |
| Net investment income | 3.03 | 2.116 |
| Portfolio turnover (%) | 1427 | 618 |
| 1 | The inception date for Class I shares is 6-4-21. |
| 2 | Based on average daily shares outstanding. |
| 3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
| 4 | Not annualized. |
| 5 | Less than $500,000. |
| 6 | Annualized. |
| 7 | Excludes merger activity. |
| 8 | Portfolio turnover is shown for the period from 9-1-20 to 8-31-21. |
| 54 | JOHN HANCOCK Opportunistic Fixed Income Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
| CLASS R6 SHARES Period ended | 8-31-22 | 8-31-211 |
| Per share operating performance | | |
| Net asset value, beginning of period | $13.68 | $13.52 |
| Net investment income2 | 0.37 | 0.08 |
| Net realized and unrealized gain (loss) on investments | (2.28) | 0.08 |
| Total from investment operations | (1.91) | 0.16 |
| Less distributions | | |
| From net investment income | (0.34) | — |
| Net asset value, end of period | $11.43 | $13.68 |
| Total return (%)3 | (14.16) | 1.184 |
| Ratios and supplemental data | | |
| Net assets, end of period (in millions) | $1 | $50 |
| Ratios (as a percentage of average net assets): | | |
| Expenses before reductions | 1.03 | 1.185 |
| Expenses including reductions | 0.81 | 0.815 |
| Net investment income | 2.80 | 2.495 |
| Portfolio turnover (%) | 1426 | 617 |
| 1 | The inception date for Class R6 shares is 6-4-21. |
| 2 | Based on average daily shares outstanding. |
| 3 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
| 4 | Not annualized. |
| 5 | Annualized. |
| 6 | Excludes merger activity. |
| 7 | Portfolio turnover is shown for the period from 9-1-20 to 8-31-21. |
| SEE NOTES TO FINANCIAL STATEMENTS | ANNUAL REPORT | JOHN HANCOCK Opportunistic Fixed Income Fund | 55 |
| CLASS 1 SHARES Period ended | 8-31-22 | 8-31-21 | 8-31-20 | 8-31-19 | 8-31-18 |
| Per share operating performance | | | | | |
| Net asset value, beginning of period | $13.67 | $13.98 | $13.27 | $12.72 | $12.84 |
| Net investment income1 | 0.38 | 0.36 | 0.23 | 0.24 | 0.26 |
| Net realized and unrealized gain (loss) on investments | (2.30) | 0.03 | 0.94 | 0.48 | (0.38) |
| Total from investment operations | (1.92) | 0.39 | 1.17 | 0.72 | (0.12) |
| Less distributions | | | | | |
| From net investment income | (0.33) | (0.70) | (0.46) | (0.17) | — |
| Net asset value, end of period | $11.42 | $13.67 | $13.98 | $13.27 | $12.72 |
| Total return (%)2 | (14.23) | 2.84 | 9.15 | 5.75 | (0.93) |
| Ratios and supplemental data | | | | | |
| Net assets, end of period (in millions) | $63 | $36 | $41 | $47 | $51 |
| Ratios (as a percentage of average net assets): | | | | | |
| Expenses before reductions | 1.08 | 1.22 | 1.663 | 1.203 | 0.86 |
| Expenses including reductions | 0.85 | 0.85 | 0.963 | 1.163 | 0.85 |
| Net investment income | 3.16 | 2.62 | 1.77 | 2.05 | 2.04 |
| Portfolio turnover (%) | 1424 | 61 | 2245 | 53 | 31 |
| 1 | Based on average daily shares outstanding. |
| 2 | Total returns would have been lower had certain expenses not been reduced during the applicable periods. |
| 3 | Includes interest expense of 0.09% and 0.26% for the year ended August 31, 2020 and the year ended August 31, 2019, respectively. |
| 4 | Excludes merger activity. |
| 5 | Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. |
| 56 | JOHN HANCOCK Opportunistic Fixed Income Fund | ANNUAL REPORT | SEE NOTES TO FINANCIAL STATEMENTS |
Notes to financial statements
Note 1—Organization
John Hancock Opportunistic Fixed Income Fund (the fund) is a series of John Hancock Funds II (the Trust), an open-end management investment company organized as a Massachusetts business trust and registered under the Investment Company Act of 1940, as amended (the 1940 Act). The investment objective of the fund is to seek maximum total return, consistent with preservation of capital and prudent investment management.
The fund may offer multiple classes of shares. The shares currently outstanding are detailed in the Statement of assets and liabilities. Class A and Class C shares are offered to all investors. Class I shares are offered to institutions and certain investors. Class R6 shares are only available to certain retirement plans, institutions and other investors. Class 1 shares are offered only to certain affiliates of Manulife Financial Corporation. Class C shares convert to Class A shares eight years after purchase (certain exclusions may apply). Shareholders of each class have exclusive voting rights to matters that affect that class. The distribution and service fees, if any, and transfer agent fees for each class may differ.
Note 2—Significant accounting policies
The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (US GAAP), which require management to make certain estimates and assumptions as of the date of the financial statements. Actual results could differ from those estimates and those differences could be significant. The fund qualifies as an investment company under Topic 946 of Accounting Standards Codification of US GAAP.
Events or transactions occurring after the end of the fiscal period through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The following summarizes the significant accounting policies of the fund:
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: Debt obligations are typically valued based on evaluated prices provided by an independent pricing vendor. Independent pricing vendors utilize matrix pricing, which takes into account factors such as institutional-size trading in similar groups of securities, yield, quality, coupon rate, maturity, type of issue, trading characteristics and other market data, as well as broker supplied prices. 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 are valued at their respective NAVs each business day. Futures contracts whose settlement prices are determined as of the close of the NYSE are typically valued based on the settlement price while other futures contracts are typically valued at the last traded price on the exchange on which they trade. Swaps are generally valued using evaluated prices obtained from an independent pricing vendor. Forward foreign currency contracts are valued at the prevailing forward rates which are based on foreign currency exchange spot rates and forward points supplied by an independent pricing vendor. Foreign securities and currencies are valued in U.S. dollars based on foreign currency exchange rates supplied by an independent pricing vendor.
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.
| | ANNUAL REPORT | JOHN HANCOCK Opportunistic Fixed Income Fund | 57 |
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.
The following is a summary of the values by input classification of the fund’s investments as of August 31, 2022, by major security category or type:
| | Total
value at
8-31-22 | Level 1
quoted
price | Level 2
significant
observable
inputs | Level 3
significant
unobservable
inputs |
| Investments in securities: | | | | |
| Assets | | | | |
| U.S. Government and Agency obligations | $1,657,224 | — | $1,657,224 | — |
| Foreign government obligations | 56,497,498 | — | 56,497,498 | — |
| Corporate bonds | 24,680,700 | — | 24,680,700 | — |
| Convertible bonds | 2,125,098 | — | 2,125,098 | — |
| Municipal bonds | 1,613,114 | — | 1,613,114 | — |
| Term loans | 7,718,533 | — | 7,718,533 | — |
| Collateralized mortgage obligations | 6,178,577 | — | 6,178,577 | — |
| Asset backed securities | 6,102,653 | — | 6,102,653 | — |
| Common stocks | 8,695 | — | — | $8,695 |
| Preferred securities | 50,602 | $49,288 | 1,314 | — |
| Escrow certificates | 46 | — | — | 46 |
| Short-term investments | 3,998,427 | 3,998,427 | — | — |
| Total investments in securities | $110,631,167 | $4,047,715 | $106,574,711 | $8,741 |
| Liabilities | | | | |
| Sale commitments outstanding | $(370,157) | — | $(370,157) | — |
| Derivatives: | | | | |
| Assets | | | | |
| Futures | 414,487 | $414,487 | — | — |
| 58 | JOHN HANCOCK Opportunistic Fixed Income Fund | ANNUAL REPORT | |
| | Total
value at
8-31-22 | Level 1
quoted
price | Level 2
significant
observable
inputs | Level 3
significant
unobservable
inputs |
| Forward foreign currency contracts | $732,120 | — | $732,120 | — |
| Swap contracts | 424,615 | — | 424,615 | — |
| Liabilities | | | | |
| Futures | (120,095) | $(120,095) | — | — |
| Forward foreign currency contracts | (761,595) | — | (761,595) | — |
| Swap contracts | (3,133,217) | — | (3,133,217) | — |
| Level 3 includes securities valued at $0. Refer to Fund’s investments. |
When-issued/delayed-delivery securities. The fund may purchase or sell debt securities on a when-issued or delayed-delivery basis, or in a “To Be Announced” (TBA) or “forward commitment” transaction, with delivery or payment to occur at a later date beyond the normal settlement period. TBA securities resulting from these transactions are included in the portfolio or in a schedule to the portfolio (Sale Commitments Outstanding). At the time a fund enters into a commitment to purchase or sell a security, the transaction is recorded and the value of the security is reflected in its NAV. The price of such security and the date that the security will be delivered and paid for are fixed at the time the transaction is negotiated. The value of the security may vary with market fluctuations. No interest accrues until settlement takes place. At the time that the fund enters into this type of transaction, the fund is required to have sufficient cash and/or liquid securities to cover its commitments.
Certain risks may arise upon entering into when-issued or delayed-delivery securities transactions, including the potential inability of counterparties to meet the terms of their contracts, and the issuer’s failure to issue the securities due to political, economic or other factors. Additionally, losses may arise due to changes in the value of the securities purchased or sold prior to settlement date.
Term loans (Floating rate loans). The fund may invest in term loans, which are debt securities and are often rated below investment grade at the time of purchase. Term loans are generally subject to legal or contractual restrictions on resale and generally have longer settlement periods than conventional debt securities. Term loans involve special types of risk, including credit risk, interest-rate risk, counterparty risk, and risk associated with extended settlement. The liquidity of term loans, including the volume and frequency of secondary market trading in such loans, varies significantly over time and among individual loans. During periods of infrequent trading, valuing a term loan can be more difficult and buying and selling a term loan at an acceptable price can be more difficult and delayed, which could result in a loss.
The fund’s ability to receive payments of principal, interest and other amounts in connection with term loans will depend primarily on the financial condition of the borrower. The fund’s failure to receive scheduled payments on a term loan due to a default, bankruptcy or other reason would adversely affect the fund’s income and would likely reduce the value of its assets. Transactions in loan investments typically take a significant amount of time (i.e., seven days or longer) to settle. This could pose a liquidity risk to the fund and, if the fund’s exposure to such investments is substantial, it could impair the fund’s ability to meet redemptions. Because term loans may not be rated by independent credit rating agencies, a decision to invest in a particular loan could depend exclusively on the subadvisor’s credit analysis of the borrower and/or term loan agents. There is greater risk that the fund may have limited rights to enforce the terms of an underlying loan than for other types of debt instruments.
At August 31, 2022, the fund had $13,841 in unfunded loan commitments outstanding.
Inflation-indexed bonds. Inflation-indexed bonds are securities that generally have a lower coupon interest rate fixed at issuance but whose principal value is periodically adjusted based on a rate of inflation, such as the Consumer Price Index. Over the life of an inflation-indexed bond, interest is paid on the inflation adjusted principal
| | ANNUAL REPORT | JOHN HANCOCK Opportunistic Fixed Income Fund | 59 |
value as described above. Increases in the principal amount of these securities are recorded as interest income. Decreases in the principal amount of these securities may reduce interest income to the extent of income previously recorded. If these decreases are in excess of income previously recorded, an adjustment to the cost of the security is made.
Mortgage and asset backed securities. The fund may invest in mortgage-related securities, such as mortgage-backed securities, and other asset-backed securities, which are debt obligations that represent interests in pools of mortgages or other income-bearing assets, such as consumer loans or receivables. Such securities often involve risks that are different from the risks associated with investing in other types of debt securities. Mortgage-backed and other asset-backed securities are subject to changes in the payment patterns of borrowers of the underlying debt. When interest rates fall, borrowers are more likely to refinance or prepay their debt before its stated maturity. This may result in the fund having to reinvest the proceeds in lower yielding securities, effectively reducing the fund’s income. Conversely, if interest rates rise and borrowers repay their debt more slowly than expected, the time in which the mortgage-backed and other asset-backed securities are paid off could be extended, reducing the fund’s cash available for reinvestment in higher yielding securities. The timely payment of principal and interest of certain mortgage-related securities is guaranteed with the full faith and credit of the U.S. Government. Pools created and guaranteed by non-governmental issuers, including government-sponsored corporations (e.g. FNMA), may be supported by various forms of insurance or guarantees, but there can be no assurance that private insurers or guarantors can meet their obligations under the insurance policies or guarantee arrangements. The fund is also subject to risks associated with securities with contractual cash flows including asset-backed and mortgage related securities such as collateralized mortgage obligations, mortgage pass-through securities and commercial mortgage-backed securities. The value, liquidity and related income of these securities are sensitive to changes in economic conditions, including real estate value, pre-payments, delinquencies and/or defaults, and may be adversely affected by shifts in the market’s perception of the issuers and changes in interest rates.
Security transactions and related investment income. Investment security transactions are accounted for on a trade date plus one basis for daily NAV calculations. However, for financial reporting purposes, investment transactions are reported on trade date. Interest income is accrued as earned. Interest income includes coupon interest and amortization/accretion of premiums/discounts on debt securities. Debt obligations may be placed in a non-accrual status and related interest income may be reduced by stopping current accruals and writing off interest receivable when the collection of all or a portion of interest has become doubtful. Dividend income is recorded on ex-date, except for dividends of certain foreign securities where the dividend may not be known until after the ex-date. In those cases, dividend income, net of withholding taxes, is recorded when the fund becomes aware of the dividends. Non-cash dividends, if any, are recorded at the fair market value of the securities received. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds from litigation.
Securities lending. The fund may lend its securities to earn additional income. The fund receives collateral from the borrower in an amount not less than the market value of the loaned securities. The fund may invest its cash collateral in John Hancock Collateral Trust (JHCT), an affiliate of the fund, which has a floating NAV and is registered with the Securities and Exchange Commission (SEC) as an investment company. JHCT is a prime money market fund and invests in short-term money market investments. The fund will receive the benefit of any gains and bear any losses generated by JHCT with respect to the cash collateral. Effective November 19, 2021, JHCT converted to a prime money market fund.
The fund has the right to recall loaned securities on demand. If a borrower fails to return loaned securities when due, then the lending agent is responsible and indemnifies the fund for the lent securities. The lending agent uses the collateral received from the borrower to purchase replacement securities of the same issue, type, class and series of the loaned securities. If the value of the collateral is less than the purchase cost of replacement securities, the lending agent is responsible for satisfying the shortfall but only to the extent that the shortfall is not due to any decrease in the value of JHCT.
| 60 | JOHN HANCOCK Opportunistic Fixed Income Fund | ANNUAL REPORT | |
Although the risk of loss on securities lent is mitigated by receiving collateral from the borrower and through lending agent indemnification, the fund could experience a delay in recovering securities or could experience a lower than expected return if the borrower fails to return the securities on a timely basis. During the existence of the loan, the fund will receive from the borrower amounts equivalent to any dividends, interest or other distributions on the loaned securities, as well as interest on such amounts. The fund receives compensation for lending its securities by retaining a portion of the return on the investment of the collateral and compensation from fees earned from borrowers of the securities. Securities lending income received by the fund is net of fees retained by the securities lending agent. Net income received from JHCT is a component of securities lending income as recorded on the Statement of operations. As of August 31, 2022, there were no securities on loan.
Foreign investing. Assets, including investments, and liabilities denominated in foreign currencies are translated into U.S. dollar values each day at the prevailing exchange rate. Purchases and sales of securities, income and expenses are translated into U.S. dollars at the prevailing exchange rate on the date of the transaction. The effect of changes in foreign currency exchange rates on the value of securities is reflected as a component of the realized and unrealized gains (losses) on investments. Foreign investments are subject to a decline in the value of a foreign currency versus the U.S. dollar, which reduces the dollar value of securities denominated in that currency.
Funds that invest internationally generally carry more risk than funds that invest strictly in U.S. securities. These risks are heightened for investments in emerging markets. Risks can result from differences in economic and political conditions, regulations, market practices (including higher transaction costs), accounting standards and other factors.
As a result of political tensions and armed conflicts, including the Russian invasion of Ukraine commencing in February of 2022, the United States and the European Union, along with the regulatory bodies of a number of countries, have imposed economic sanctions on certain Russian corporate entities and individuals, and certain sectors of Russia’s economy, which has resulted, and may continue to result, in devaluation of Russian currency, a downgrade in the country’s credit rating, and a decline in the value and liquidity of Russian securities, property or interests.
Foreign taxes. The fund may be subject to withholding tax on income, capital gains or repatriations imposed by certain countries, a portion of which may be recoverable. Foreign taxes are accrued based upon the fund’s understanding of the tax rules and rates that exist in the foreign markets in which it invests. Taxes are accrued based on gains realized by the fund as a result of certain foreign security sales. In certain circumstances, estimated taxes are accrued based on unrealized appreciation of such securities. Investment income is recorded net of foreign withholding taxes.
Overdraft. The fund may have the ability to borrow from banks for temporary or emergency purposes, including meeting redemption requests that otherwise might require the untimely sale of securities. Pursuant to the fund’s custodian agreement, the custodian may loan money to the fund to make properly authorized payments. The fund is obligated to repay the custodian for any overdraft, including any related costs or expenses. The custodian may have a lien, security interest or security entitlement in any fund property that is not otherwise segregated or pledged, to the extent of any overdraft, and to the maximum extent permitted by law.
Line of credit. The fund and other affiliated funds have entered into a syndicated line of credit agreement with Citibank, N.A. as the administrative agent that enables them to participate in a $1 billion unsecured committed line of credit. Excluding commitments designated for a certain fund and subject to the needs of all other affiliated funds, the fund can borrow up to an aggregate commitment amount of $750 million, subject to asset coverage and other limitations as specified in the agreement. A commitment fee payable at the end of each calendar quarter, based on the average daily unused portion of the line of credit, is charged to each participating fund based on a combination of fixed and asset-based allocations and is reflected in Other expenses on the Statement of operations. For the year ended August 31, 2022, the fund had no borrowings under the line of credit. Commitment fees for the year ended August 31, 2022 were $4,105.
| | ANNUAL REPORT | JOHN HANCOCK Opportunistic Fixed Income Fund | 61 |
Expenses. Within the John Hancock group of funds complex, expenses that are directly attributable to an individual fund are allocated to such fund. Expenses that are not readily attributable to a specific fund are allocated among all funds in an equitable manner, taking into consideration, among other things, the nature and type of expense and the fund’s relative net assets. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.
Class allocations. Income, common expenses and realized and unrealized gains (losses) are determined at the fund level and allocated daily to each class of shares based on the net assets of the class. Class-specific expenses, such as distribution and service fees, if any, and transfer agent fees, for all classes, are charged daily at the class level based on the net assets of each class and the specific expense rates applicable to each class.
Federal income taxes. The fund intends to continue to qualify as a regulated investment company by complying with the applicable provisions of the Internal Revenue Code and will not be subject to federal income tax on taxable income that is distributed to shareholders. Therefore, no federal income tax provision is required.
For federal income tax purposes, as of August 31, 2022, the fund has a short-term capital loss carryforward of $21,859,330 and a long-term capital loss carryforward of $57,056,115 available to offset future net realized capital gains. These carryforwards do not expire.
Availability of a certain amount of the loss carryforwards may be limited in a given year due to I.R.S. Regulations.
As of August 31, 2022, the fund had no uncertain tax positions that would require financial statement recognition, derecognition or disclosure. The fund’s federal tax returns are subject to examination by the Internal Revenue Service for a period of three years.
Distribution of income and gains. Distributions to shareholders from net investment income and net realized gains, if any, are recorded on the ex-date. The fund generally declares and pays dividends quarterly. Capital gain distributions, if any, are typically distributed annually.
The tax character of distributions for the years ended August 31, 2022 and 2021 was as follows:
| | August 31, 2022 | August 31, 2021 |
| Ordinary income | $3,766,605 | $2,057,556 |
Distributions paid by the fund with respect to each class of shares are calculated in the same manner, at the same time and in the same amount, except for the effect of class level expenses that may be applied differently to each class. As of August 31, 2022, the components of distributable earnings on a tax basis consisted of $2,027,625 of undistributed ordinary income.
Such distributions and distributable earnings, on a tax basis, are determined in conformity with income tax regulations, which may differ from US GAAP. Distributions in excess of tax basis earnings and profits, if any, are reported in the fund’s financial statements as a return of capital.
Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Temporary book-tax differences, if any, will reverse in a subsequent period. Book-tax differences are primarily attributable to straddle loss deferrals, defaulted bonds, foreign currency transactions, wash sale loss deferrals, derivative transactions, amortization and accretion on debt securities and merger related transactions.
Note 3—Derivative instruments
The fund may invest in derivatives in order to meet its investment objective. Derivatives include a variety of different instruments that may be traded in the over-the-counter (OTC) market, on a regulated exchange or through a clearing facility. The risks in using derivatives vary depending upon the structure of the instruments, including the use of leverage, optionality, the liquidity or lack of liquidity of the contract, the creditworthiness of
| 62 | JOHN HANCOCK Opportunistic Fixed Income Fund | ANNUAL REPORT | |
the counterparty or clearing organization and the volatility of the position. Some derivatives involve risks that are potentially greater than the risks associated with investing directly in the referenced securities or other referenced underlying instrument. Specifically, the fund is exposed to the risk that the counterparty to an OTC derivatives contract will be unable or unwilling to make timely settlement payments or otherwise honor its obligations. OTC derivatives transactions typically can only be closed out with the other party to the transaction.
Derivatives which are typically traded through the OTC market are regulated by the Commodity Futures Trading Commission (the CFTC). Derivative counterparty risk is managed through an ongoing evaluation of the creditworthiness of all potential counterparties and, if applicable, designated clearing organizations. The fund attempts to reduce its exposure to counterparty risk for derivatives traded in the OTC market, whenever possible, by entering into an International Swaps and Derivatives Association (ISDA) Master Agreement with each of its OTC counterparties. The ISDA gives each party to the agreement the right to terminate all transactions traded under the agreement if there is certain deterioration in the credit quality or contractual default of the other party, as defined in the ISDA. Upon an event of default or a termination of the ISDA, the non-defaulting party has the right to close out all transactions and to net amounts owed.
As defined by the ISDA, the fund may have collateral agreements with certain counterparties to mitigate counterparty risk on OTC derivatives. Subject to established minimum levels, collateral for OTC transactions is generally determined based on the net aggregate unrealized gain or loss on contracts with a particular counterparty. Collateral pledged to the fund, if any, is held in a segregated account by a third-party agent or held by the custodian bank for the benefit of the fund and can be in the form of cash or debt securities issued by the U.S. government or related agencies; collateral posted by the fund, if any, for OTC transactions is held in a segregated account at the fund’s custodian and is noted in the accompanying Fund’s investments, or if cash is posted, on the Statement of assets and liabilities. The fund’s risk of loss due to counterparty risk is equal to the asset value of outstanding contracts offset by collateral received.
Certain derivatives are traded or cleared on an exchange or central clearinghouse. Exchange-traded or centrally-cleared transactions generally present less counterparty risk to a fund than OTC transactions. The exchange or clearinghouse stands between the fund and the broker to the contract and therefore, credit risk is generally limited to the failure of the exchange or clearinghouse and the clearing member.
Centrally-cleared swap contracts are subject to clearinghouse rules, including initial and variation margin requirements, daily settlement of obligations and the clearinghouse guarantee of payments to the broker. There is, however, still counterparty risk due to the potential insolvency of the broker with respect to any margin held in the brokers’ customer accounts. While clearing members are required to segregate customer assets from their own assets, in the event of insolvency, there may be a shortfall in the amount of margin held by the broker for its clients. Collateral or margin requirements for centrally-cleared derivatives are set by the broker or applicable clearinghouse. Margin for centrally-cleared transactions is detailed in the Statement of assets and liabilities as Receivable/Payable for centrally-cleared swaps. Securities pledged by the fund for centrally-cleared transactions, if any, are identified in the Fund’s investments.
Futures. A futures contract is a contractual agreement to buy or sell a particular currency or financial instrument at a pre-determined price in the future. Futures are traded on an exchange and cleared through a central clearinghouse. Risks related to the use of futures contracts include possible illiquidity of the futures markets and contract prices that can be highly volatile and imperfectly correlated to movements in the underlying financial instrument and potential losses in excess of the amounts recognized on the Statement of assets and liabilities. Use of long futures contracts subjects the fund to the risk of loss up to the notional value of the futures contracts. Use of short futures contracts subjects the fund to unlimited risk of loss.
Upon entering into a futures contract, the fund is required to deposit initial margin with the broker in the form of cash or securities. The amount of required margin is set by the broker and is generally based on a percentage of the contract value. The margin deposit must then be maintained at the established level over the life of the contract. Cash that has been pledged by the fund, if any, is detailed in the Statement of assets and liabilities as
| | ANNUAL REPORT | JOHN HANCOCK Opportunistic Fixed Income Fund | 63 |
Collateral held at broker for futures contracts. Securities pledged by the fund, if any, are identified in the Fund’s investments. Subsequent payments, referred to as variation margin, are made or received by the fund periodically and are based on changes in the market value of open futures contracts. Futures contracts are marked-to-market daily and unrealized gain or loss is recorded by the fund. Receivable for futures variation margin is included on the Statement of assets and liabilities. When the contract is closed, the fund records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed.
During the year ended August 31, 2022, the fund used futures contracts to manage against changes in interest rates, gain exposure to certain bond markets and manage duration of the fund. The fund held futures contracts with USD notional values ranging from $22.7 million to $76.5 million, as measured at each quarter end.
Forward foreign currency contracts. A forward foreign currency contract is an agreement between two parties to buy and sell specific currencies at a price that is set on the date of the contract. The forward contract calls for delivery of the currencies on a future date that is specified in the contract. Forwards are typically traded OTC. Risks related to the use of forwards include the possible failure of counterparties to meet the terms of the forward agreement, the failure of the counterparties to timely post collateral if applicable, and the risk that currency movements will not favor the fund thereby reducing the fund’s total return, and the potential for losses in excess of the amounts recognized on the Statement of assets and liabilities.
The market value of a forward foreign currency contract fluctuates with changes in foreign currency exchange rates. Forward foreign currency contracts are marked-to-market daily and the change in value is recorded by the fund as an unrealized gain or loss. Realized gains or losses, equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed, are recorded upon delivery or receipt of the currency or settlement with the counterparty.
During the year ended August 31, 2022, the fund used forward foreign currency contracts to manage against changes in foreign currency exchange rates and to gain exposure to foreign currencies. The fund held forward foreign currency contracts with USD notional values ranging from $73.6 million to $177.2 million, as measured at each quarter end.
Swaps. Swap agreements are agreements between the fund and a counterparty to exchange cash flows, assets, foreign currencies or market-linked returns at specified intervals. Swap agreements are privately negotiated in the OTC market (OTC swaps) or may be executed on a registered commodities exchange (centrally cleared swaps). Swaps are marked-to-market daily and the change in value is recorded as a component of unrealized appreciation/depreciation of swap contracts. The value of the swap will typically impose collateral posting obligations on the party that is considered out-of-the-money on the swap.
Upfront payments made/received by the fund, if any, are amortized/accreted for financial reporting purposes, with the unamortized/unaccreted portion included in the Statement of assets and liabilities. A termination payment by the counterparty or the fund is recorded as realized gain or loss, as well as the net periodic payments received or paid by the fund.
Entering into swap agreements involves, to varying degrees, elements of credit, market and documentation risk that may provide outcomes that produce losses in excess of the amounts recognized on the Statement of assets and liabilities. Such risks involve the possibility that there will be no liquid market for the swap, or that a counterparty may default on its obligation or delay payment under the swap terms. The counterparty may disagree or contest the terms of the swap. In addition to interest rate risk, market risks may also impact the swap. The fund may also suffer losses if it is unable to terminate or assign outstanding swaps or reduce its exposure through offsetting transactions.
Interest rate swaps. Interest rate swaps represent an agreement between the fund and a counterparty to exchange cash flows based on the difference between two interest rates applied to a notional amount. The payment flows are usually netted against each other, with the difference being paid by one party to the other. The fund settles accrued net interest receivable or payable under the swap contracts at specified, future intervals.
| 64 | JOHN HANCOCK Opportunistic Fixed Income Fund | ANNUAL REPORT | |
During the year ended August 31, 2022, the fund used interest rate swap contracts to manage against changes in interest rates and to manage duration of the fund. The fund held interest rate swaps with total USD notional amounts ranging from $10.7 million to $41.1 million, as measured at each quarter end.
Credit default swaps. Credit default swaps (CDS) involve the exchange of a fixed rate premium (paid by the Buyer), for protection against the loss in value of an underlying debt instrument, referenced entity or index, in the event of a defined credit event (such as payment default or bankruptcy). Under the terms of the swap, one party acts as a “guarantor” (the Seller), receiving the premium and agreeing to contingent payments that are specified within the credit default agreement. The fund may enter into CDS in which it may act as either Buyer or Seller. By acting as the Seller, the fund may incur economic leverage since it would be obligated to pay the Buyer the notional amount of the contract in the event of a default. The amount of loss in such case could be significant, but would typically be reduced by any recovery value on the underlying credit.
Credit default swaps — Buyer
During the year ended August 31, 2022, the fund used credit default swap contracts as the buyer to manage against potential credit events. The fund held credit default swaps with total USD notional amounts ranging from $8.9 million to $19.2 million, as measured at each quarter end.
Credit default swaps — Seller
Implied credit spreads are utilized in determining the market value of CDS agreements in which the fund is the Seller at period end. The implied credit spread generally represents the yield of the instrument above a credit-risk free rate, such as the U.S. Treasury Bond Yield, and may include upfront payments required to be made to enter into the agreement. It also serves as an indicator of the current status of the payment/performance risk and represents the likelihood or risk of default for the credit derivative. Wider credit spreads represent a deterioration of the referenced entity’s creditworthiness and an increased risk of default or other credit event occurring as defined under the terms of the agreement.
For CDS agreements where implied credit spreads are not reported or available, the average credit rating on the underlying index is shown. A deterioration of the referenced entity’s creditworthiness would indicate a greater likelihood of a credit event occurring and result in increasing market values, in absolute terms when compared to the notional amount of the swap. The maximum potential amount of future payments (undiscounted) that the fund as the Seller could be required to make under any CDS agreement equals the notional amount of the agreement.
During the year ended August 31, 2022, the fund used credit default swap contracts as the seller to gain credit exposure to an issuer or index. The fund held credit default swaps with total USD notional amounts ranging up to $4.9 million, as measured at each quarter end. There were no open CDS contracts where the fund acted as seller as of August 31, 2022.
Inflation swaps. In an inflation swap, one party pays a fixed rate on a notional principal amount while the other party pays a floating rate linked to an inflation index on that same notional amount. The party paying the floating rate pays the inflation adjusted rate multiplied by the notional principal amount. If the average inflation rate over the term of the swap is the same as the fixed rate of the swap, the two legs will have the same value and the swap will break even.
During the year ended August 31, 2022, the fund used inflation swaps to manage exposure to inflation risk. The fund held inflation swaps with total USD notional amounts ranging from $3.5 million to $11.4 million, as measured at each quarter end.
Total Return Swaps. The fund may enter into total return swap contracts to obtain synthetic exposure to a specific reference asset or index without owning, taking physical custody of, or short selling the underlying assets. Total return swaps are commitments where one party pays a fixed or variable rate premium (the Buyer) in exchange for a market-linked return (the Seller). The Seller pays the total return of a specific reference asset or index and in return receives interest payments from the Buyer. To the extent the total return of the underlying asset
| | ANNUAL REPORT | JOHN HANCOCK Opportunistic Fixed Income Fund | 65 |
or index exceeds or falls short of the offsetting interest rate obligation, the Buyer will receive or make a payment to the Seller. A fund may enter into total return swaps in which it may act as either the Buyer or the Seller. Total return swap contracts are subject to the risk associated with the investment in the underlying reference asset or index. The risk in the case of short total return swap contracts is unlimited based on the potential for unlimited increases in the market value of the underlying reference asset or index.
During the year ended August 31, 2022, the fund used total return swaps to gain exposure to a security or market without investing directly in such security or market. The fund held total return swaps with total USD notional amounts ranging from $3.1 million to $10.0 million, as measured at each quarter end.
Fair value of derivative instruments by risk category
The table below summarizes the fair value of derivatives held by the fund at August 31, 2022 by risk category:
| Risk | Statement of assets
and liabilities
location | Financial
instruments
location | Assets
derivatives
fair value | Liabilities
derivatives
fair value |
| Interest rate | Receivable/payable for futures variation margin1 | Futures | $414,487 | $(120,095) |
| Currency | Unrealized appreciation (depreciation) on forward foreign currency contracts | Forward foreign currency contracts | 732,120 | (761,595) |
| Credit | Swap contracts, at value2 | Credit default swaps | 45,523 | (109,759) |
| Interest rate | Swap contracts, at value | Total return swaps | 220,675 | — |
| Interest rate | Swap contracts, at value2 | Interest rate swaps | 9,555 | (2,785,715) |
| Inflation | Swap contracts, at value | Inflation swaps | 148,862 | (237,743) |
| | | | $1,571,222 | $(4,014,907) |
| 1 | Reflects cumulative appreciation/depreciation on open futures as disclosed in the Derivatives section of Fund’s investments. Only the year end variation margin receivable/payable is separately reported on the Statement of assets and liabilities. |
| 2 | Reflects cumulative value of swap contracts. Receivable/payable for centrally cleared swaps, which includes value and margin, and swap contracts at value, which represents OTC swaps, are shown separately on the Statement of assets and liabilities. |
For financial reporting purposes, the fund does not offset OTC derivative assets or liabilities that are subject to master netting arrangements, as defined by the ISDAs, in the Statement of assets and liabilities. In the event of default by the counterparty or a termination of the agreement, the ISDA allows an offset of amounts across the various transactions between the fund and the applicable counterparty. The tables below reflect the fund’s exposure to OTC derivative transactions and exposure to counterparties subject to an ISDA:
| OTC Financial Instruments | Asset | Liability |
| Forward foreign currency contracts | $732,120 | $(761,595) |
| Swap contracts | 412,743 | (324,112) |
| Totals | $1,144,863 | $(1,085,707) |
| Counterparty | Assets | Liabilities | Total Market
Value of
OTC Derivatives | Collateral
Posted by
Counterparty1 | Collateral Posted
by Portfolio1 | Net
Exposure |
| Bank of America, N.A. | $78,024 | ($101,689) | ($23,665) | — | $23,665 | — |
| 66 | JOHN HANCOCK Opportunistic Fixed Income Fund | ANNUAL REPORT | |
| Counterparty | Assets | Liabilities | Total Market
Value of
OTC Derivatives | Collateral
Posted by
Counterparty1 | Collateral Posted
by Portfolio1 | Net
Exposure |
| Barclays Bank PLC | 244,554 | (154,069) | $90,485 | $90,485 | — | — |
| Citibank, N.A. | 155,395 | (214,992) | (59,597) | — | — | ($59,597) |
| Goldman Sachs International | 75,124 | (133,616) | (58,492) | — | — | (58,492) |
| JPMorgan Chase Bank, N.A. | 122,868 | (202,361) | (79,493) | — | $60,000 | (19,493) |
| Morgan Stanley & Co. International PLC | 467,201 | (248,577) | 218,624 | $218,624 | — | — |
| State Street Bank and Trust Company | 1,697 | (30,403) | (28,706) | — | — | (28,706) |
| Totals | $1,144,863 | ($1,085,707) | 59,156 | $309,109 | $83,665 | ($166,288) |
| 1 Reflects collateral posted by the counterparty or posted by the fund, excluding any excess collateral amounts. |
Effect of derivative instruments on the Statement of operations
The table below summarizes the net realized gain (loss) included in the net increase (decrease) in net assets from operations, classified by derivative instrument and risk category, for the year ended August 31, 2022:
| | Statement of operations location - Net realized gain (loss) on: |
| Risk | Futures contracts | Forward foreign
currency contracts | Swap contracts | Total |
| Interest rate | $4,364,687 | — | $1,479,082 | $5,843,769 |
| Currency | — | $1,952,324 | — | 1,952,324 |
| Credit | — | — | 18,831 | 18,831 |
| Total | $4,364,687 | $1,952,324 | $1,497,913 | $7,814,924 |
The table below summarizes the net change in unrealized appreciation (depreciation) included in the net increase (decrease) in net assets from operations, classified by derivative instrument and risk category, for the year ended August 31, 2022:
| | Statement of operations location - Change in net unrealized appreciation (depreciation) of: |
| Risk | Futures contracts | Forward foreign
currency contracts | Swap contracts | Total |
| Interest rate | $224,494 | — | $(2,511,482) | $(2,286,988) |
| Currency | — | $119,330 | — | 119,330 |
| Credit | — | — | (39,076) | (39,076) |
| Inflation | — | — | (82,781) | (82,781) |
| Total | $224,494 | $119,330 | $(2,633,339) | $(2,289,515) |
| | ANNUAL REPORT | JOHN HANCOCK Opportunistic Fixed Income Fund | 67 |
Note 4—Guarantees and indemnifications
Under the Trust’s organizational documents, its Officers and Trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust, including the fund. Additionally, in the normal course of business, the fund enters into contracts with service providers that contain general indemnification clauses. The fund’s maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the fund that have not yet occurred. The risk of material loss from such claims is considered remote.
Note 5—Fees and transactions with affiliates
John Hancock Investment Management LLC (the Advisor) serves as investment advisor for the fund. John Hancock Investment Management Distributors LLC (the Distributor), an affiliate of the Advisor, serves as principal underwriter of the fund. The Advisor and the Distributor are indirect, principally owned subsidiaries of John Hancock Life Insurance Company (U.S.A.), which in turn is a subsidiary of Manulife Financial Corporation.
Management fee. The fund has an investment management agreement with the Advisor under which the fund pays a daily management fee to the Advisor equivalent on an annual basis to the sum of: (a) 0.650% of the first $1 billion of the fund’s aggregate net assets and (b) 0.625% of the fund’s aggregate net assets in excess of $1 billion. Aggregate net assets include the net assets of the fund and Opportunistic Fixed Income Trust, a series of John Hancock Variable Insurance Trust. The Advisor has a subadvisory agreement with Wellington Management Company LLP. The fund is not responsible for payment of the subadvisory fees.
The Advisor has contractually agreed to waive a portion of its management fee and/or reimburse expenses for certain funds of the John Hancock group of funds complex, including the fund (the participating portfolios). This waiver is based upon aggregate net assets of all the participating portfolios. The amount of the reimbursement is calculated daily and allocated among all the participating portfolios in proportion to the daily net assets of each fund. During the year ended August 31, 2022, this waiver amounted to 0.01% of the fund’s average daily net assets. This arrangement expires on July 31, 2024, unless renewed by mutual agreement of the fund and the Advisor based upon a determination that this is appropriate under the circumstances at that time.
The Advisor has contractually agreed to reduce its management fee or, if necessary, make payment to the fund, in an amount equal to the amount by which the expenses of the fund exceed 0.80% of average net assets for the fund. Expenses excluded from this waiver are taxes, brokerage commissions, interest expense, litigation and indemnification expenses and other extraordinary expenses not incurred in the ordinary course of the fund’s business, Rule 12b-1 fees, transfer agent fees and service fees, shareholder servicing fees, borrowing costs, prime brokerage fees, acquired fund fees and expenses paid indirectly and short dividend expenses. This agreement expires on December 31, 2022, unless renewed by mutual agreement of the fund and the Advisor based upon a determination that this is appropriate under the circumstances at that time.
For the year ended August 31, 2022, the expense reductions described above amounted to the following:
| Class | Expense reduction |
| Class A | $80,507 |
| Class C | 3,505 |
| Class I | 22,329 |
| Class | Expense reduction |
| Class R6 | $90,210 |
| Class 1 | 87,560 |
| Total | $284,111 |
Expenses waived or reimbursed in the current fiscal period are not subject to recapture in future fiscal periods.
The investment management fees, including the impact of the waivers and reimbursements as described above, incurred for the year ended August 31, 2022, were equivalent to a net annual effective rate of 0.43% of the fund’s average daily net assets.
| 68 | JOHN HANCOCK Opportunistic Fixed Income Fund | ANNUAL REPORT | |
Accounting and legal services. Pursuant to a service agreement, the fund reimburses the Advisor for all expenses associated with providing the administrative, financial, legal, compliance, accounting and recordkeeping services to the fund, including the preparation of all tax returns, periodic reports to shareholders and regulatory reports, among other services. These expenses are allocated to each share class based on its relative net assets at the time the expense was incurred. These accounting and legal services fees incurred, for the year ended August 31, 2022, amounted to an annual rate of 0.02% of the fund’s average daily net assets.
Distribution and service plans. The fund has a distribution agreement with the Distributor. The fund has adopted distribution and service plans for certain classes as detailed below pursuant to Rule 12b-1 under the 1940 Act, to pay the Distributor for services provided as the distributor of shares of the fund. The fund may pay up to the following contractual rates of distribution and service fees under these arrangements, expressed as an annual percentage of average daily net assets for each class of the fund’s shares:
| Class | Rule 12b-1 Fee |
| Class A | 0.25% |
| Class C | 1.00% |
| Class 1 | 0.05% |
Sales charges. Class A shares are assessed up-front sales charges, which resulted in payments to the Distributor amounting to $1,338 for the year ended August 31, 2022. Of this amount, $209 was retained and used for printing prospectuses, advertising, sales literature and other purposes and $1,129 was paid as sales commissions to broker-dealers.
Class A and Class C shares may be subject to contingent deferred sales charges (CDSCs). Certain Class A shares purchased, including those that are acquired through purchases of $1 million or more, and redeemed within one year of purchase are subject to a 1.00% sales charge. Class C shares that are redeemed within one year of purchase are subject to a 1.00% CDSC. CDSCs are applied to the lesser of the current market value at the time of redemption or the original purchase cost of the shares being redeemed. Proceeds from CDSCs are used to compensate the Distributor for providing distribution-related services in connection with the sale of these shares. During the year ended August 31, 2022, CDSCs received by the Distributor amounted to $5,449 for Class A shares. There were no CDSCs received by the Distributor for Class C shares.
Transfer agent fees. The John Hancock group of funds has a complex-wide transfer agent agreement with John Hancock Signature Services, Inc. (Signature Services), an affiliate of the Advisor. The transfer agent fees paid to Signature Services are determined based on the cost to Signature Services (Signature Services Cost) of providing recordkeeping services. It also includes out-of-pocket expenses, including payments made to third-parties for recordkeeping services provided to their clients who invest in one or more John Hancock funds. In addition, Signature Services Cost may be reduced by certain fees that Signature Services receives in connection with retirement and small accounts. Signature Services Cost is calculated monthly and allocated, as applicable, to five categories of share classes: Retail Share and Institutional Share Classes of Non-Municipal Bond Funds, Class R6 Shares, Retirement Share Classes and Municipal Bond Share Classes. Within each of these categories, the applicable costs are allocated to the affected John Hancock affiliated funds and/or classes, based on the relative average daily net assets.
Class level expenses. Class level expenses for the year ended August 31, 2022 were as follows:
| Class | Distribution and service fees | Transfer agent fees |
| Class A | $95,010 | $44,283 |
| Class C | 16,905 | 1,971 |
| Class I | — | 11,611 |
| Class R6 | — | 2,883 |
| | ANNUAL REPORT | JOHN HANCOCK Opportunistic Fixed Income Fund | 69 |
| Class | Distribution and service fees | Transfer agent fees |
| Class 1 | $22,148 | — |
| Total | $134,063 | $60,748 |
Trustee expenses. The fund compensates each Trustee who is not an employee of the Advisor or its affiliates. The costs of paying Trustee compensation and expenses are allocated to the fund based on its net assets relative to other funds within the John Hancock group of funds complex.
Interfund lending program. Pursuant to an Exemptive Order issued by the SEC, the fund, along with certain other funds advised by the Advisor or its affiliates, may participate in an interfund lending program. This program provides an alternative credit facility allowing the fund to borrow from, or lend money to, other participating affiliated funds. At period end, no interfund loans were outstanding. The fund’s activity in this program during the period for which loans were outstanding was as follows:
Borrower
or Lender | Weighted Average
Loan Balance | Days
Outstanding | Weighted Average
Interest Rate | Interest Income
(Expense) |
| Lender | $2,850,000 | 2 | 1.482% | $235 |
Note 6—Fund share transactions
Transactions in fund shares for the years ended August 31, 2022 and 2021 were as follows:
| | Year Ended 8-31-22 | Year Ended 8-31-21 |
| | Shares | Amount | Shares | Amount |
| Class A shares1 | | | | |
| Sold | 101,942 | $1,229,764 | 5,813 | $78,745 |
| Issued in reorganization (Note 9) | 5,073,351 | 67,630,816 | — | — |
| Distributions reinvested | 97,996 | 1,215,988 | — | — |
| Repurchased | (1,661,986) | (20,049,186) | — | — |
| Net increase | 3,611,303 | $50,027,382 | 5,813 | $78,745 |
| Class C shares1 | | | | |
| Sold | 276 | $3,461 | 3,698 | $50,000 |
| Issued in reorganization (Note 9) | 215,078 | 2,855,762 | — | — |
| Distributions reinvested | 1,908 | 22,889 | — | — |
| Repurchased | (83,017) | (988,742) | — | — |
| Net increase | 134,245 | $1,893,370 | 3,698 | $50,000 |
| Class I shares1 | | | | |
| Sold | 187,348 | $2,368,805 | 16,354 | $223,000 |
| Issued in reorganization (Note 9) | 1,778,097 | 23,732,623 | — | — |
| Distributions reinvested | 35,061 | 443,246 | — | — |
| Repurchased | (1,402,104) | (17,326,349) | — | — |
| Net increase | 598,402 | $9,218,325 | 16,354 | $223,000 |
| 70 | JOHN HANCOCK Opportunistic Fixed Income Fund | ANNUAL REPORT | |
| | Year Ended 8-31-22 | Year Ended 8-31-21 |
| | Shares | Amount | Shares | Amount |
| Class R6 shares1 | | | | |
| Sold | 678,597 | $8,674,407 | 3,666,840 | $49,850,000 |
| Issued in reorganization (Note 9) | 5,228 | 69,822 | — | — |
| Distributions reinvested | 5,170 | 61,848 | — | — |
| Repurchased | (4,285,220) | (50,414,978) | — | — |
| Net increase (decrease) | (3,596,225) | $(41,608,901) | 3,666,840 | $49,850,000 |
| Class 1 shares | | | | |
| Sold | 3,914,042 | $46,466,242 | 407,153 | $5,580,071 |
| Distributions reinvested | 87,581 | 1,060,733 | 151,737 | 2,057,556 |
| Repurchased | (1,164,879) | (14,382,796) | (842,587) | (11,471,227) |
| Net increase (decrease) | 2,836,744 | $33,144,179 | (283,697) | $(3,833,600) |
| Total net increase | 3,584,469 | $52,674,355 | 3,409,008 | $46,368,145 |
| 1 | The inception date for Class A, Class C, Class I, and Class R6 shares is 6-4-21. |
Affiliates of the fund owned 100% of shares of Class 1 on August 31, 2022. Such concentration of shareholders’ capital could have a material effect on the fund if such shareholders redeem from the fund.
Note 7—Purchase and sale of securities
Purchases and sales of securities, other than short-term investments and U.S. Treasury obligations, amounted to $188,959,650 and $157,708,066, respectively, for the year ended August 31, 2022. Purchases and sales of U.S. Treasury obligations aggregated $1,351,179 and $14,609,058, respectively, for the year ended August 31, 2022.
Note 8—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* | — | — | $16,056,835 | $(16,056,526) | $(309) | — | $467 | — | — |
| * | Refer to the Securities lending note within Note 2 for details regarding this investment. |
Note 9—Reorganization
On June 24, 2021, the shareholders of John Hancock Funds II (the Trust) Short Duration Credit Opportunities Fund (the Acquired Fund) voted to approve an Agreement and Plan of Reorganization (the Agreement) which provided for an exchange of shares of Opportunistic Fixed Income Fund (the Acquiring Fund) with a value equal to the net assets transferred. The Agreement provided for (a) the acquisition of all the assets, subject to all of the liabilities, of the Acquired Fund in exchange for shares of the Acquiring Fund with a value equal to the net assets transferred;
| | ANNUAL REPORT | JOHN HANCOCK Opportunistic Fixed Income Fund | 71 |
(b) the liquidation of the Acquired Fund; and (c) the distribution to the Acquired Fund’s shareholders of such Acquiring Fund’s shares. The reorganization was intended to achieve potential opportunities for economies of scale and potentially lower expenses in the future. As a result of the reorganization, the Acquiring Fund is the legal and accounting survivor.
The reorganization qualified as a tax-free reorganization for federal income tax purposes with no gain or loss recognized by the Acquired Fund or their shareholders. Thus, the investments were transferred to the Acquiring Fund at the Acquired Fund’s identified cost. All distributable amounts of net income and realized gains from the Acquired Fund were distributed prior to the reorganization. In addition, the Acquired Fund will bear the costs that are incurred in connection with the reorganization. The effective time of the reorganization occurred immediately after the close of regularly scheduled trading on the New York Stock Exchange (NYSE) on December 10, 2021. The following outlines the reorganization:
Acquiring
Portfolio | Acquired
Portfolio | Net Asset
Value of the
Acquired
Portfolio | Depreciation
of the
Acquired
Portfolio’s
Investments | Shares
Redeemed
by the
Acquired
Portfolio | Shares
Issued
by the
Acquiring
Portfolio | Acquiring
Portfolio
Net Assets
Prior to
Combination | Acquiring
Portfolio
Total Net
Assets After
Combination |
| Opportunistic Fixed Income Fund | Short Duration Credit Opportunities Fund | $94,289,023 | ($977,122) | 9,816,061 | 7,071,754 | $85,743,663 | $180,032,686 |
Because the combined fund has been managed as a single integrated fund since the reorganization was completed, it is not practicable to separate the amounts of net investment income and gains attributable to the Acquired Fund that have been included in the Acquiring Fund’s Statement of operations at August 31, 2022. See Note 6 for capital shares issued in connection with the above referenced reorganization.
Assuming the acquisition had been completed on September 1, 2021, the beginning of the reporting period, the Acquiring Fund’s pro forma results of operations for the year ended August 31, 2022 are as follows:
| Net Investment Income | $4,389,918 |
| Net realized and unrealized gain | (28,229,650) |
| Increase (decrease) in net assets from operations | ($23,839,732) |
Note 10—LIBOR discontinuation risk
LIBOR (London Interbank Offered Rate) is a measure of the average interest rate at which major global banks can borrow from one another. Following allegations of rate manipulation and concerns regarding its thin liquidity, in July 2017, the U.K. Financial Conduct Authority, which regulates LIBOR, announced that it will stop encouraging banks to provide the quotations needed to sustain LIBOR. As market participants transition away from LIBOR, LIBOR’s usefulness may deteriorate and these effects could be experienced until the permanent cessation of the majority of U.S. LIBOR rates in 2023. The transition process may lead to increased volatility and illiquidity in markets that currently rely on LIBOR to determine interest rates. LIBOR’s deterioration may adversely affect the liquidity and/or market value of securities that use LIBOR as a benchmark interest rate.
The ICE Benchmark Administration Limited, the administrator of LIBOR, ceased publishing certain LIBOR maturities, including some U.S. LIBOR maturities, on December 31, 2021, and is expected to cease publishing the remaining and most liquid U.S. LIBOR maturities on June 30, 2023. It is expected that market participants have or will transition to the use of alternative reference or benchmark rates prior to the applicable LIBOR publication cessation date. Additionally, although regulators have encouraged the development and adoption of alternative rates such as the Secured Overnight Financing Rate ("SOFR"), the future utilization of LIBOR or of any particular replacement rate remains uncertain.
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The impact on the transition away from LIBOR referenced financial instruments remains uncertain. It is expected that market participants will adopt alternative rates such as SOFR or otherwise amend such financial instruments to include fallback provisions and other measures that contemplate the discontinuation of LIBOR. Uncertainty and risk remain regarding the willingness and ability of issuers and lenders to include alternative rates and revised provisions in new and existing contracts or instruments. To facilitate the transition of legacy derivatives contracts referencing LIBOR, the International Swaps and Derivatives Association, Inc. launched a protocol to incorporate fallback provisions. There are obstacles to converting certain longer term securities to a new benchmark or benchmarks and the effectiveness of one versus multiple alternative reference rates has not been determined. Certain proposed replacement rates, such as SOFR, are materially different from LIBOR, and will require changes to the applicable spreads. Furthermore, the risks associated with the conversion from LIBOR may be exacerbated if an orderly transition is not completed in a timely manner.
Note 11—Coronavirus (COVID-19) pandemic
The COVID-19 disease has resulted in significant disruptions to global business activity. A widespread health crisis such as a global pandemic could cause substantial market volatility, exchange-trading suspensions, and closures, which may lead to less liquidity in certain instruments, industries, sectors or the markets generally, and may ultimately affect fund performance.
Note 12—New accounting pronouncement
In March 2020, the Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU), ASU 2020-04, which provides optional, temporary relief with respect to the financial reporting of contracts subject to certain types of modifications due to the planned discontinuation of the LIBOR and other IBOR-based reference rates as of the end of 2021. The temporary relief provided by ASU 2020-04 is effective for certain reference rate-related contract modifications that occur during the period March 12, 2020 through December 31, 2022. Management expects that the adoption of the guidance will not have a material impact to the financial statements.
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Report of Independent Registered Public Accounting Firm
To the Board of Trustees of John Hancock Funds II and Shareholders of John Hancock Opportunistic Fixed Income Fund
Opinion on the Financial Statements
We have audited the accompanying statement of assets and liabilities, including the fund’s investments, of John Hancock Opportunistic Fixed Income Fund (one of the funds constituting John Hancock Funds II, referred to hereafter as the "Fund") as of August 31, 2022, the related statement of operations for the year ended August 31, 2022, the statements of changes in net assets for each of the two years in the period ended August 31, 2022, including the related notes, and the financial highlights for each of the periods indicated therein (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of August 31, 2022, the results of its operations for the year then ended, the changes in its net assets for each of the two years in the period ended August 31, 2022 and the financial highlights for each of the periods indicated therein in conformity with accounting principles generally accepted in the United States of America.
Basis for Opinion
These financial statements are the responsibility of the Fund’s management. Our responsibility is to express an opinion on the Fund’s financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.
Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of August 31, 2022 by correspondence with the custodian, transfer agent, agent banks and brokers; when replies were not received from agent banks and brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinion.
/s/ PricewaterhouseCoopers LLP
Boston, Massachusetts
October 21, 2022
We have served as the auditor of one or more investment companies in the John Hancock group of funds since 1988.
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(Unaudited)
For federal income tax purposes, the following information is furnished with respect to the distributions of the fund, if any, paid during its taxable year ended August 31, 2022.
The fund reports the maximum amount allowable of its net taxable income as eligible for the corporate dividends-received deduction.
The fund reports the maximum amount allowable of its net taxable income as qualified dividend income as provided in the Jobs and Growth Tax Relief Reconciliation Act of 2003.
The fund reports the maximum amount allowable as Section 163(j) Interest Dividends.
The fund reports the maximum amount allowable of its Section 199A dividends as defined in Proposed Treasury Regulation §1.199A-3(d).
Eligible shareholders will be mailed a 2022 Form 1099-DIV in early 2023. This will reflect the tax character of all distributions paid in calendar year 2022.
Please consult a tax advisor regarding the tax consequences of your investment in the fund.
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EVALUATION OF ADVISORY AND SUBADVISORY AGREEMENTS BY THE BOARD OF TRUSTEES
This section describes the evaluation by the Board of Trustees (the Board) of John Hancock Funds II (the Trust) of the Advisory Agreement (the Advisory Agreement) with John Hancock Investment Management LLC (the Advisor) and the Subadvisory Agreement (the Subadvisory Agreement) with Wellington Management Company LLP (the Subadvisor) for John Hancock Opportunistic Fixed Income Fund (the fund). The Advisory Agreement and Subadvisory Agreement are collectively referred to as the Agreements. Prior to the June 21-23, 2022 videoconference1 meeting at which the Agreements were approved, the Board also discussed and considered information regarding the proposed continuation of the Agreements at the videoconference meeting held on May 24-25, 2022. Trustees who are not “interested persons” of the Trust as defined by the Investment Company Act of 1940, as amended (the “1940 Act”) (the “Independent Trustees”) also met separately to evaluate and discuss the information presented, including with counsel to the Independent Trustees and a third-party consulting firm.
Approval of Advisory and Subadvisory Agreements
At videoconference meetings held on June 21-23, 2022, the Board, including the Trustees who are not parties to any Agreement or considered to be interested persons of the Trust under the 1940 Act, reapproved for an annual period the continuation of the Advisory Agreement between the Trust and the Advisor and the Subadvisory Agreement between the Advisor and the Subadvisor with respect to the fund.
In considering the Advisory Agreement and the Subadvisory Agreement, the Board received in advance of the meetings a variety of materials relating to the fund, the Advisor and the Subadvisor, including comparative performance, fee and expense information for a peer group of similar funds prepared by an independent third-party provider of fund data, performance information for an applicable benchmark index; and, with respect to the Subadvisor, comparative performance information for comparably managed accounts, as applicable, and other information provided by the Advisor and the Subadvisor regarding the nature, extent and quality of services provided by the Advisor and the Subadvisor under their respective Agreements, as well as information regarding the Advisor’s revenues and costs of providing services to the fund and any compensation paid to affiliates of the Advisor. At the meetings at which the renewal of the Advisory Agreement and Subadvisory Agreement are considered, particular focus is given to information concerning fund performance, comparability of fees and total expenses, and profitability. However, the Board notes that the evaluation process with respect to the Advisor and the Subadvisor is an ongoing one. In this regard, the Board also took into account discussions with management and information provided to the Board (including its various committees) at prior meetings with respect to the services provided by the Advisor and the Subadvisor to the fund, including quarterly performance reports prepared by management containing reviews of investment results and prior presentations from the Subadvisor with respect to the fund. The information received and considered by the Board in connection with the May and June meetings and throughout the year was both written and oral. The Board also considered the nature, quality, and extent of non-advisory services, if any, to be provided to the fund by the Advisor’s affiliates, including distribution services. The Board considered the Advisory Agreement and the Subadvisory Agreement separately in the course of its review. In doing so, the Board noted the respective roles of the Advisor and Subadvisor in providing services to the fund.
1On June 19, 2020, as a result of health and safety measures put in place to combat the global COVID-19 pandemic, the Securities and Exchange Commission issued an exemptive order (the “Order”) pursuant to Sections 6(c) and 38(a) of the Investment Company Act of 1940, as amended (the “1940 Act”), that temporarily exempts registered investment management companies from the in-person voting requirements under the 1940 Act, subject to certain requirements, including that votes taken pursuant to the Order are ratified at the next in-person meeting. The Board determined that reliance on the Order was necessary or appropriate due to the circumstances related to current or potential effects of COVID-19 and therefore, the Board’s May and June meetings were held via videoconference in reliance on the Order. This exemptive order supersedes, in part, a similar earlier exemptive order issued by the SEC.
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Throughout the process, the Board asked questions of and requested additional information from management. The Board is assisted by counsel for the Trust and the Independent Trustees are also separately assisted by independent legal counsel throughout the process. The Independent Trustees also received a memorandum from their independent legal counsel discussing the legal standards for their consideration of the proposed continuation of the Agreements and discussed the proposed continuation of the Agreements in private sessions with their independent legal counsel at which no representatives of management were present.
Approval of Advisory Agreement
In approving the Advisory Agreement with respect to the fund, the Board, including the Independent Trustees, considered a variety of factors, including those discussed below. The Board also considered other factors (including conditions and trends prevailing generally in the economy, the securities markets, and the industry) and did not treat any single factor as determinative, and each Trustee may have attributed different weights to different factors. The Board’s conclusions may be based in part on its consideration of the advisory and subadvisory arrangements in prior years and on the Board’s ongoing regular review of fund performance and operations throughout the year.
Nature, extent, and quality of services. Among the information received by the Board from the Advisor relating to the nature, extent, and quality of services provided to the fund, the Board reviewed information provided by the Advisor relating to its operations and personnel, descriptions of its organizational and management structure, and information regarding the Advisor’s compliance and regulatory history, including its Form ADV. The Board also noted that on a regular basis it receives and reviews information from the Trust’s Chief Compliance Officer (CCO) regarding the fund’s compliance policies and procedures established pursuant to Rule 38a-1 under the 1940 Act. The Board observed that the scope of services provided by the Advisor, and of the undertakings required of the Advisor in connection with those services, including maintaining and monitoring its own and the fund’s compliance programs, risk management programs, liquidity management programs and cybersecurity programs, had expanded over time as a result of regulatory, market and other developments. The Board considered that the Advisor is responsible for the management of the day-to-day operations of the fund, including, but not limited to, general supervision of and coordination of the services provided by the Subadvisor, and is also responsible for monitoring and reviewing the activities of the Subadvisor and other third-party service providers. The Board also considered the significant risks assumed by the Advisor in connection with the services provided to the fund including entrepreneurial risk in sponsoring new funds and ongoing risks including investment, operational, enterprise, litigation, regulatory and compliance risks with respect to all funds.
In considering the nature, extent, and quality of the services provided by the Advisor, the Trustees also took into account their knowledge of the Advisor’s management and the quality of the performance of the Advisor’s duties, through Board meetings, discussions and reports during the preceding year and through each Trustee’s experience as a Trustee of the Trust and of the other trusts in the John Hancock group of funds complex (the John Hancock Fund Complex).
In the course of their deliberations regarding the Advisory Agreement, the Board considered, among other things:
| (a) | the skills and competency with which the Advisor has in the past managed the Trust’s affairs and its subadvisory relationship, the Advisor’s oversight and monitoring of the Subadvisor’s investment performance and compliance programs, such as the Subadvisor’s compliance with fund policies and objectives, review of brokerage matters, including with respect to trade allocation and best execution and the Advisor’s timeliness in responding to performance issues; |
| (b) | the background, qualifications and skills of the Advisor’s personnel; |
| (c) | the Advisor’s compliance policies and procedures and its responsiveness to regulatory changes and fund industry developments; |
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| (d) | the Advisor’s administrative capabilities, including its ability to supervise the other service providers for the fund, as well as the Advisor’s oversight of any securities lending activity, its monitoring of class action litigation and collection of class action settlements on behalf of the fund, and bringing loss recovery actions on behalf of the fund; |
| (e) | the financial condition of the Advisor and whether it has the financial wherewithal to provide a high level and quality of services to the fund; |
| (f) | the Advisor’s initiatives intended to improve various aspects of the Trust’s operations and investor experience with the fund; and |
| (g) | the Advisor’s reputation and experience in serving as an investment advisor to the Trust and the benefit to shareholders of investing in funds that are part of a family of funds offering a variety of investments. |
The Board concluded that the Advisor may reasonably be expected to continue to provide a high quality of services under the Advisory Agreement with respect to the fund.
Investment performance. In considering the fund’s performance, the Board noted that it reviews at its regularly scheduled meetings information about the fund’s performance results. In connection with the consideration of the Advisory Agreement, the Board:
| (a) | reviewed information prepared by management regarding the fund’s performance; |
| (b) | considered the comparative performance of an applicable benchmark index; |
| (c) | considered the performance of comparable funds, if any, as included in the report prepared by an independent third-party provider of fund data; and |
| (d) | took into account the Advisor’s analysis of the fund’s performance and its plans and recommendations regarding the Trust’s subadvisory arrangements generally. |
The Board noted that while it found the data provided by the independent third-party generally useful it recognized its limitations, including in particular that the data may vary depending on the end date selected and that the results of the performance comparisons may vary depending on the selection of the peer group. The Board noted that the fund outperformed its benchmark index for the three- and five-year periods and underperformed for the one- and ten-year periods ended December 31, 2021. The Board also noted that the fund outperformed its peer group median for the one-, three-, five- and ten-year periods ended December 31, 2021. The Board took into account management’s discussion of the fund’s performance, including the favorable performance relative to the benchmark index for the three- and five-year periods and relative to its peer group median for the one-, three-, five- and ten-year periods. The Board concluded that the fund’s performance has generally been in line with or outperformed the historical performance of comparable funds and the fund’s benchmark index.
Fees and expenses. The Board reviewed comparative information prepared by an independent third-party provider of fund data, including, among other data, the fund’s contractual and net management fees (and subadvisory fees, to the extent available) and total expenses as compared to similarly situated investment companies deemed to be comparable to the fund in light of the nature, extent and quality of the management and advisory and subadvisory services provided by the Advisor and Subadvisor. The Board considered the fund’s ranking within a smaller group of peer funds chosen by the independent third-party provider, as well as the fund’s ranking within a broader group of funds. In comparing the fund’s contractual and net management fees to those of comparable funds, the Board noted that such fees include both advisory and administrative costs. The Board noted that net management fees and total expenses for the fund were higher than the peer group median.
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The Board took into account management’s discussion with respect to overall management fee and the fees of the Subadvisor, including the amount of the advisory fee retained by the Advisor after payment of the subadvisory fees, in each case in light of the services rendered for those amounts and the risks undertaken by the Advisor. The Board also noted that the Advisor pays the subadvisory fees, and that such fees are negotiated at arm’s length with respect to the Subadvisor. In addition, the Board took into account that management had agreed to implement an overall fee waiver across the complex, including the fund, which is discussed further below. The Board also noted actions taken over the past several years to reduce the fund’s operating expenses. The Board also noted that, in addition, the Advisor is currently waiving fees and/or reimbursing expenses with respect to the fund and that the fund has breakpoints in its contractual management fee schedule that reduces management fees as assets increase. The Board reviewed information provided by the Advisor concerning the investment advisory fee charged by the Advisor or one of its advisory affiliates to other clients (including other funds in the John Hancock Fund Complex) having similar investment mandates, if any. The Board considered any differences between the Advisor’s and Subadvisor’s services to the fund and the services they provide to other comparable clients or funds. The Board concluded that the advisory fee paid with respect to the fund is reasonable in light of the nature, extent and quality of the services provided to the fund under the Advisory Agreement.
Profitability/indirect benefits. In considering the costs of the services to be provided and the profits to be realized by the Advisor and its affiliates from the Advisor’s relationship with the Trust, the Board:
| (a) | reviewed financial information of the Advisor; |
| (b) | reviewed and considered information presented by the Advisor regarding the net profitability to the Advisor and its affiliates with respect to the fund; |
| (c) | received and reviewed profitability information with respect to the John Hancock Fund Complex as a whole and with respect to the fund; |
| (d) | received information with respect to the Advisor’s allocation methodologies used in preparing the profitability data and considered that the Advisor hired an independent third-party consultant to provide an analysis of the Advisor’s allocation methodologies; |
| (e) | considered that the John Hancock insurance companies that are affiliates of the Advisor, as shareholders of the Trust directly or through their separate accounts, receive certain tax credits or deductions relating to foreign taxes paid and dividends received by certain funds of the Trust and noted that these tax benefits, which are not available to participants in qualified retirement plans under applicable income tax law, are reflected in the profitability information reviewed by the Board; |
| (f) | considered that the Advisor also provides administrative services to the fund on a cost basis pursuant to an administrative services agreement; |
| (g) | noted that affiliates of the Advisor provide transfer agency services and distribution services to the fund, and that the fund’s distributor also receives Rule 12b-1 payments to support distribution of the fund; |
| (h) | noted that the Advisor also derives reputational and other indirect benefits from providing advisory services to the fund; |
| (i) | noted that the subadvisory fee for the fund is paid by the Advisor and is negotiated at arm’s length; |
| (j) | considered the Advisor’s ongoing costs and expenditures necessary to improve services, meet new regulatory and compliance requirements, and adapt to other challenges impacting the fund industry; and |
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| (k) | considered that the Advisor should be entitled to earn a reasonable level of profits in exchange for the level of services it provides to the fund and the risks that it assumes as Advisor including entrepreneurial, operational, reputational, litigation and regulatory risk. |
Based upon its review, the Board concluded that the level of profitability, if any, of the Advisor and its affiliates from their relationship with the fund was reasonable and not excessive.
Economies of scale. In considering the extent to which economies of scale would be realized as the fund grows and whether fee levels reflect these economies of scale for the benefit of fund shareholders, the Board:
| (a) | considered that the Advisor has contractually agreed to waive a portion of its management fee for certain funds of the John Hancock Fund Complex, including the fund (the participating portfolios) or otherwise reimburse the expenses of the participating portfolios (the reimbursement). This waiver is based upon aggregate net assets of all the participating portfolios. The amount of the reimbursement is calculated daily and allocated among all the participating portfolios in proportion to the daily net assets of each fund; |
| (b) | reviewed the fund’s advisory fee structure and concluded that: (i) the fund’s fee structure contains breakpoints at the subadvisory fee level and that such breakpoints are reflected as breakpoints in the advisory fees for the fund; and (ii) although economies of scale cannot be measured with precision, these arrangements permit shareholders of the fund to benefit from economies of scale if the fund grows. The Board also took into account management’s discussion of the fund’s advisory fee structure; and |
| (c) | the Board also considered the effect of the fund’s growth in size on its performance and fees. The Board also noted that if the fund’s assets increase over time, the fund may realize other economies of scale |
Approval of Subadvisory Agreement
In making its determination with respect to approval of the Subadvisory Agreement, the Board reviewed:
| (1) | information relating to the Subadvisor’s business, including current subadvisory services to the Trust (and other funds in the John Hancock Fund Complex); |
| (2) | the historical and current performance of the fund and comparative performance information relating to an applicable benchmark index and comparable funds; |
| (3) | the subadvisory fee for the fund, including any breakpoints, and to the extent available, comparable fee information prepared by an independent third party provider of fund data; and |
| (4) | information relating to the nature and scope of any material relationships and their significance to the Trust’s Advisor and Subadvisor. |
Nature, extent, and quality of services. With respect to the services provided by the Subadvisor, the Board received information provided to the Board by the Subadvisor, including the Subadvisor’s Form ADV, as well as took into account information presented throughout the past year. The Board considered the Subadvisor’s current level of staffing and its overall resources, as well as received information relating to the Subadvisor’s compensation program. The Board reviewed the Subadvisor’s history and investment experience, as well as information regarding the qualifications, background, and responsibilities of the Subadvisor’s investment and compliance personnel who provide services to the fund. The Board also considered, among other things, the Subadvisor’s compliance program and any disciplinary history. The Board also considered the Subadvisor’s risk assessment and monitoring process. The Board reviewed the Subadvisor’s regulatory history, including whether it was involved in any regulatory actions or investigations as well as material litigation, and any settlements and amelioratory actions undertaken, as appropriate. The Board noted that the Advisor conducts regular, periodic reviews of the Subadvisor and its
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operations, including regarding investment processes and organizational and staffing matters. The Board also noted that the Trust’s CCO and his staff conduct regular, periodic compliance reviews with the Subadvisor and present reports to the Independent Trustees regarding the same, which includes evaluating the regulatory compliance systems of the Subadvisor and procedures reasonably designed to assure compliance with the federal securities laws. The Board also took into account the financial condition of the Subadvisor.
The Board considered the Subadvisor’s investment process and philosophy. The Board took into account that the Subadvisor’s responsibilities include the development and maintenance of an investment program for the fund that is consistent with the fund’s investment objective, the selection of investment securities and the placement of orders for the purchase and sale of such securities, as well as the implementation of compliance controls related to performance of these services. The Board also received information with respect to the Subadvisor’s brokerage policies and practices, including with respect to best execution and soft dollars.
Subadvisor compensation. In considering the cost of services to be provided by the Subadvisor and the profitability to the Subadvisor of its relationship with the fund, the Board noted that the fees under the Subadvisory Agreement are paid by the Advisor and not the fund.
The Board also relied on the ability of the Advisor to negotiate the Subadvisory Agreement with the Subadvisor, which is not affiliated with the Advisor, and the fees thereunder at arm’s length. As a result, the costs of the services to be provided and the profits to be realized by the Subadvisor from its relationship with the Trust were not a material factor in the Board’s consideration of the Subadvisory Agreement.
The Board also received information regarding the nature and scope (including their significance to the Advisor and its affiliates and to the Subadvisor) of any material relationships with respect to the Subadvisor, which include arrangements in which the Subadvisor or its affiliates provide advisory, distribution, or management services in connection with financial products sponsored by the Advisor or its affiliates, and may include other registered investment companies, a 529 education savings plan, managed separate accounts and exempt group annuity contracts sold to qualified plans. The Board also received information and took into account any other potential conflicts of interest the Advisor might have in connection with the Subadvisory Agreement.
In addition, the Board considered other potential indirect benefits that the Subadvisor and its affiliates may receive from the Subadvisor’s relationship with the fund, such as the opportunity to provide advisory services to additional funds in the John Hancock Fund Complex and reputational benefits.
Subadvisory fees. The Board considered that the fund pays an advisory fee to the Advisor and that, in turn, the Advisor pays a subadvisory fee to the Subadvisor. As noted above, the Board also considered the fund’s subadvisory fees as compared to similarly situated investment companies deemed to be comparable to the fund as included in the report prepared by the independent third party provider of fund data, to the extent available. The Board noted that the limited size of the Lipper peer group was not sufficient for comparative purposes. The Board also took into account the subadvisory fees paid by the Advisor to the Subadvisor with respect to the fund and compared them to fees charged by the Subadvisor to manage other subadvised portfolios and portfolios not subject to regulation under the 1940 Act, as applicable.
Subadvisor performance. As noted above, the Board considered the fund’s performance as compared to the fund’s peer group median and the benchmark index and noted that the Board reviews information about the fund’s performance results at its regularly scheduled meetings. The Board noted the Advisor’s expertise and resources in monitoring the performance, investment style and risk-adjusted performance of the Subadvisor. The Board was mindful of the Advisor’s focus on the Subadvisor’s performance. The Board also noted the Subadvisor’s long-term performance record for similar accounts, as applicable.
The Board’s decision to approve the Subadvisory Agreement was based on a number of determinations, including the following:
| (1) | the Subadvisor has extensive experience and demonstrated skills as a manager; |
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| (2) | the performance of the fund has generally been in line with or outperformed the historical performance of comparable funds and the fund’s benchmark index; |
| (3) | the subadvisory fees are reasonable in relation to the level and quality of services being provided under the Subadvisory Agreement; and |
| (4) | the subadvisory fees are paid by the Advisor not the fund and that the subadvisory fee breakpoints are reflected as breakpoints in the advisory fees for the fund in order to permit shareholders to benefit from economies of scale if the fund grows. |
***
Based on the Board’s evaluation of all factors that the Board deemed to be material, including those factors described above, the Board, including the Independent Trustees, concluded that renewal of the Advisory Agreement and the Subadvisory Agreement would be in the best interest of the fund and its shareholders. Accordingly, the Board, and the Independent Trustees voting separately, approved the Advisory Agreement and Subadvisory Agreement for an additional one-year period.
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STATEMENT REGARDING LIQUIDITY RISK MANAGEMENT
Operation of the Liquidity Risk Management Program
This section describes the operation and effectiveness of the Liquidity Risk Management Program (LRMP) established in accordance with Rule 22e-4 under the Investment Company Act of 1940, as amended (the Liquidity Rule). The Board of Trustees (the Board) of each Fund in the John Hancock Group of Funds (each a Fund and collectively, the Funds) that is subject to the requirements of the Liquidity Rule has appointed John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (together, the Advisor) to serve as Administrator of the LRMP with respect to each of the Funds, including John Hancock Opportunistic Fixed Income Fund, subject to the oversight of the Board. In order to provide a mechanism and process to perform the functions necessary to administer the LRMP, the Advisor established the Liquidity Risk Management Committee (the Committee). The Fund’s subadvisor, Wellington Management Company LLP (the Subadvisor) executes the day-to-day investment management and security-level activities of the Fund in accordance with the requirements of the LRMP, subject to the supervision of the Advisor and the Board.
The Committee receives monthly reports and holds quarterly meetings to: (1) review the day-to-day operations of the LRMP; (2) monitor current market and liquidity conditions; (3) review and approve month-end liquidity classifications; (4) monitor illiquid investment levels against the 15% limit on illiquid investments and established Highly Liquid Investment Minimums (HLIMs), if any; (5) review quarterly testing and determinations, as applicable; (6) review redemption-in-kind activities; and (7) review other LRMP related material. The Advisor also conducts daily, monthly, quarterly, and annual quantitative and qualitative assessments of each subadvisor to a Fund that is subject to the requirements of the Liquidity Rule and is a part of the LRMP to monitor investment performance issues, risks and trends. In addition, the Advisor may conduct ad-hoc reviews and meetings with subadvisors as issues and trends are identified, including potential liquidity issues. The Committee also monitors global events, such as the ongoing COVID-19 Coronavirus pandemic and amendments to the Office of Foreign Assets Control sanctioned company lists, that could impact the markets and liquidity of portfolio investments and their classifications.
The Committee provided the Board at a meeting held by videoconference on March 22-24, 2022 with a written report which addressed the Committee’s assessment of the adequacy and effectiveness of the implementation and operation of the LRMP and any material changes to the LRMP. The report, which covered the period January 1, 2021 through December 31, 2021, included an assessment of important aspects of the LRMP including, but not limited to: (1) Security-level liquidity classifications; (2) Fund-level liquidity risk assessment; (3) Reasonably Anticipated Trade Size (RATS) determination; (4) HLIM determination; (5) Compliance with the 15% limit on illiquid investments; (6) Operation of the Fund’s Redemption-In-Kind Procedures; and (7) Review of liquidity management facilities.
Additionally, the report included a discussion of notable changes and enhancements to the LRMP implemented during 2021 and key initiatives for 2022.
The report also covered material liquidity matters which occurred or were reported during this period applicable to the Fund, if any, and the Committee’s actions to address such matters.
The report stated, in relevant part, that during the period covered by the report:
| • | The Fund’s investment strategy remained appropriate for an open-end fund structure; |
| • | The Fund was able to meet requests for redemption without significant dilution of remaining shareholders’ interests in the Fund; |
| • | The Fund did not report any breaches of the 15% limit on illiquid investments that would require reporting to the Securities and Exchange Commission; |
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| • | The Fund continued to qualify as a Primarily Highly Liquid Fund under the Liquidity Rule and therefore is not required to establish a HLIM; and |
| • | The Chief Compliance Officer’s office, as a part of their annual Rule 38a-1 assessment of the Fund’s policies and procedures, reviewed the LRMP’s control environment and deemed it to be operating effectively and in compliance with the Board approved procedures. |
Adequacy and Effectiveness
Based on the review and assessment conducted by the Committee, the Committee has determined that the LRMP and its controls have been implemented and are operating in a manner that is adequately and effectively managing the liquidity risk of the Fund.
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This chart provides information about the Trustees and Officers who oversee your John Hancock fund. Officers elected by the Trustees manage the day-to-day operations of the fund and execute policies formulated by the Trustees.
| Independent Trustees | | |
Name, year of birth
Position(s) held with Trust
Principal occupation(s) and other
directorships during past 5 years | Trustee
of the
Trust
since1 | Number of John
Hancock funds
overseen by
Trustee |
| Hassell H. McClellan, Born: 1945 | 2005 | 192 |
| Trustee and Chairperson of the Board | | |
| Director/Trustee, Virtus Funds (2008-2020); Director, The Barnes Group (2010-2021); Associate Professor, The Wallace E. Carroll School of Management, Boston College (retired 2013). Trustee (since 2005) and Chairperson of the Board (since 2017) of various trusts within the John Hancock Fund Complex. |
| James R. Boyle, Born: 1959 | 2015 | 192 |
| Trustee | | |
| Foresters Financial, Chief Executive Officer (2018–2022) and board member (2017–2022). Manulife Financial and John Hancock, more than 20 years, retiring in 2012 as Chief Executive Officer, John Hancock and Senior Executive Vice President, Manulife Financial. Trustee of various trusts within the John Hancock Fund Complex (2005–2014 and since 2015). |
| Peter S. Burgess,2 Born: 1942 | 2005 | 192 |
| Trustee | | |
| Consultant (financial, accounting, and auditing matters) (since 1999); Certified Public Accountant; Partner, Arthur Andersen (independent public accounting firm) (prior to 1999); Director, Lincoln Educational Services Corporation (2004-2021); Director, Symetra Financial Corporation (2010–2016); Director, PMA Capital Corporation (2004–2010). Trustee of various trusts within the John Hancock Fund Complex (since 2005). |
| William H. Cunningham,2 Born: 1944 | 2012 | 192 |
| Trustee | | |
| Professor, University of Texas, Austin, Texas (since 1971); former Chancellor, University of Texas System and former President of the University of Texas, Austin, Texas; Director (since 2006), Lincoln National Corporation (insurance); Director, Southwest Airlines (since 2000). Trustee of various trusts within the John Hancock Fund Complex (since 1986). |
| Noni L. Ellison,* Born: 1971 | 2022 | 192 |
| Trustee | | |
| Senior Vice President, General Counsel & Corporate Secretary, Tractor Supply Company (rural lifestyle retailer) (since 2021); General Counsel, Chief Compliance Officer & Corporate Secretary, Carestream Dental, L.L.C.(2017–2021); Associate General Counsel & Assistant Corporate Secretary, W.W. Grainger, Inc. (global industrial supplier) (2015–2017); Board Member, Goodwill of North Georgia, 2018 (FY2019)–2020 (FY2021); Board Member, Howard University School of Law Board of Visitors (since 2021); Board Member, University of Chicago Law School Board of Visitors (since 2016); Board member, Children’s Healthcare of Atlanta Foundation Board (2021–present). |
| Grace K. Fey, Born: 1946 | 2008 | 192 |
| Trustee | | |
| Chief Executive Officer, Grace Fey Advisors (since 2007); Director and Executive Vice President, Frontier Capital Management Company (1988–2007); Director, Fiduciary Trust (since 2009). Trustee of various trusts within the John Hancock Fund Complex (since 2008). |
| | ANNUAL REPORT | JOHN HANCOCK OPPORTUNISTIC FIXED INCOME FUND | 85 |
| Independent Trustees (continued) | | |
Name, year of birth
Position(s) held with Trust
Principal occupation(s) and other
directorships during past 5 years | Trustee
of the
Trust
since1 | Number of John
Hancock funds
overseen by
Trustee |
| Dean C. Garfield,* Born: 1968 | 2022 | 192 |
| Trustee | | |
| Vice President, Netflix, Inc. (since 2019); President & Chief Executive Officer, Information Technology Industry Council (2009–2019); NYU School of Law Board of Trustees (since 2021); Member, U.S. Department of Transportation, Advisory Committee on Automation (since 2021); President of the United States Trade Advisory Council (2010–2018); Board Member, College for Every Student (2017–2021); Board Member, The Seed School of Washington, D.C. (2012–2017). |
| Deborah C. Jackson, Born: 1952 | 2012 | 192 |
| Trustee | | |
| President, Cambridge College, Cambridge, Massachusetts (since 2011); Board of Directors, Amwell Corporation (since 2020); Board of Directors, Massachusetts Women’s Forum (2018-2020); Board of Directors, National Association of Corporate Directors/New England (2015-2020); Chief Executive Officer, American Red Cross of Massachusetts Bay (2002–2011); Board of Directors of Eastern Bank Corporation (since 2001); Board of Directors of Eastern Bank Charitable Foundation (since 2001); Board of Directors of Boston Stock Exchange (2002–2008); Board of Directors of Harvard Pilgrim Healthcare (health benefits company) (2007–2011). Trustee of various trusts within the John Hancock Fund Complex (since 2008). |
| Patricia Lizarraga,2,* Born: 1966 | 2022 | 192 |
| Trustee | | |
| Founder, Chief Executive Officer, Hypatia Capital Group (advisory and asset management company) (since 2007); Independent Director, Audit Committee Chair, and Risk Committee Member, Credicorp, Ltd. (since 2017); Independent Director, Audit Committee Chair, Banco De Credito Del Peru (since 2017); Trustee, Museum of Art of Lima (since 2009). |
| Steven R. Pruchansky, Born: 1944 | 2012 | 192 |
| Trustee and Vice Chairperson of the Board | | |
| Managing Director, Pru Realty (since 2017); Chairman and Chief Executive Officer, Greenscapes of Southwest Florida, Inc. (2014-2020); Director and President, Greenscapes of Southwest Florida, Inc. (until 2000); Member, Board of Advisors, First American Bank (until 2010); Managing Director, Jon James, LLC (real estate) (since 2000); Partner, Right Funding, LLC (2014-2017); Director, First Signature Bank & Trust Company (until 1991); Director, Mast Realty Trust (until 1994); President, Maxwell Building Corp. (until 1991). Trustee (since 1992), Chairperson of the Board (2011–2012), and Vice Chairperson of the Board (since 2012) of various trusts within the John Hancock Fund Complex. |
| Frances G. Rathke,2 Born: 1960 | 2020 | 192 |
| Trustee | | |
| Director, Audit Committee Chair, Oatly Group AB (plant-based drink company) (since 2021); Director, Audit Committee Chair and Compensation Committee Member, Green Mountain Power Corporation (since 2016); Director, Treasurer and Finance & Audit Committee Chair, Flynn Center for Performing Arts (since 2016); Director and Audit Committee Chair, Planet Fitness (since 2016); Chief Financial Officer and Treasurer, Keurig Green Mountain, Inc. (2003-retired 2015). Trustee of various trusts within the John Hancock Fund Complex (since 2020). |
| 86 | JOHN HANCOCK OPPORTUNISTIC FIXED INCOME FUND | ANNUAL REPORT | |
| Independent Trustees (continued) | | |
Name, year of birth
Position(s) held with Trust
Principal occupation(s) and other
directorships during past 5 years | Trustee
of the
Trust
since1 | Number of John
Hancock funds
overseen by
Trustee |
| Gregory A. Russo, Born: 1949 | 2012 | 192 |
| Trustee | | |
| Director and Audit Committee Chairman (2012-2020), and Member, Audit Committee and Finance Committee (2011-2020), NCH Healthcare System, Inc. (holding company for multi-entity healthcare system); Director and Member (2012-2018), and Finance Committee Chairman (2014-2018), The Moorings, Inc. (nonprofit continuing care community); Global Vice Chairman, Risk & Regulatory Matters, KPMG LLP (KPMG) (2002–2006); Vice Chairman, Industrial Markets, KPMG (1998–2002). Trustee of various trusts within the John Hancock Fund Complex (since 2008). |
| Non-Independent Trustees3 | | |
Name, year of birth
Position(s) held with Trust
Principal occupation(s) and other
directorships during past 5 years | Trustee
of the
Trust
since1 | Number of John
Hancock funds
overseen by
Trustee |
| Andrew G. Arnott, Born: 1971 | 2017 | 192 |
| President and Non-Independent Trustee | | |
| Head of Wealth and Asset Management, United States and Europe, for John Hancock and Manulife (since 2018); Director and Executive Vice President, John Hancock Investment Management LLC (since 2005, including prior positions); Director and Executive Vice President, John Hancock Variable Trust Advisers LLC (since 2006, including prior positions); President, John Hancock Investment Management Distributors LLC (since 2004, including prior positions); President of various trusts within the John Hancock Fund Complex (since 2007, including prior positions). Trustee of various trusts within the John Hancock Fund Complex (since 2017). |
| Marianne Harrison, Born: 1963 | 2018 | 192 |
| Non-Independent Trustee | | |
| President and CEO, John Hancock (since 2017); President and CEO, Manulife Canadian Division (2013–2017); Member, Board of Directors, Boston Medical Center (since 2021); Member, Board of Directors, CAE Inc. (since 2019); Member, Board of Directors, MA Competitive Partnership Board (since 2018); Member, Board of Directors, American Council of Life Insurers (ACLI) (since 2018); Member, Board of Directors, Communitech, an industry-led innovation center that fosters technology companies in Canada (2017-2019); Member, Board of Directors, Manulife Assurance Canada (2015-2017); Board Member, St. Mary’s General Hospital Foundation (2014-2017); Member, Board of Directors, Manulife Bank of Canada (2013- 2017); Member, Standing Committee of the Canadian Life & Health Assurance Association (2013-2017); Member, Board of Directors, John Hancock USA, John Hancock Life & Health, John Hancock New York (2012–2013). Trustee of various trusts within the John Hancock Fund Complex (since 2018). |
| Paul Lorentz,† Born: 1968 | 2022 | 192 |
| Non-Independent Trustee | | |
| Global Head, Manulife Wealth and Asset Management (since 2017); General Manager, Manulife, Individual Wealth Management and Insurance (2013–2017); President, Manulife Investments (2010–2016). |
| | ANNUAL REPORT | JOHN HANCOCK OPPORTUNISTIC FIXED INCOME FUND | 87 |
| Principal officers who are not Trustees | |
Name, year of birth
Position(s) held with Trust
Principal occupation(s)
during past 5 years | Current
Position(s)
with the
Trust
since |
| Charles A. Rizzo, Born: 1957 | 2007 |
| Chief Financial Officer | |
| Vice President, John Hancock Financial Services (since 2008); Senior Vice President, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2008); Chief Financial Officer of various trusts within the John Hancock Fund Complex (since 2007). |
| Salvatore Schiavone, Born: 1965 | 2009 |
| Treasurer | |
| Assistant Vice President, John Hancock Financial Services (since 2007); Vice President, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2007); Treasurer of various trusts within the John Hancock Fund Complex (since 2007, including prior positions). |
| Christopher (Kit) Sechler, Born: 1973 | 2018 |
| Secretary and Chief Legal Officer | |
| Vice President and Deputy Chief Counsel, John Hancock Investment Management (since 2015); Assistant Vice President and Senior Counsel (2009–2015), John Hancock Investment Management; Assistant Secretary of John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2009); Chief Legal Officer and Secretary of various trusts within the John Hancock Fund Complex (since 2009, including prior positions). |
| Trevor Swanberg, Born: 1979 | 2020 |
| Chief Compliance Officer | |
| Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2020); Deputy Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (2019–2020); Assistant Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (2016–2019); Vice President, State Street Global Advisors (2015–2016); Chief Compliance Officer of various trusts within the John Hancock Fund Complex (since 2016, including prior positions). |
The business address for all Trustees and Officers is 200 Berkeley Street, Boston, Massachusetts 02116-5023.
The Statement of Additional Information of the fund includes additional information about members of the Board of Trustees of the Trust and is available without charge, upon request, by calling 800-225-5291.
| 1 | Each Trustee holds office until his or her successor is elected and qualified, or until the Trustee’s death, retirement, resignation, or removal. Mr. Boyle has served as Trustee at various times prior to the date listed in the table. |
| 2 | Member of the Audit Committee. |
| 3 | The Trustee is a Non-Independent Trustee due to current or former positions with the Advisor and certain affiliates. |
| * | Elected to serve as Independent Trustee effective as of September 9, 2022. |
| † | Elected to serve as Non-Independent Trustee effective as of September 9, 2022. |
| 88 | JOHN HANCOCK OPPORTUNISTIC FIXED INCOME FUND | ANNUAL REPORT | |
Trustees
Hassell H. McClellan, Chairperson
Steven R. Pruchansky, Vice Chairperson
Andrew G. Arnott†
James R. Boyle
Peter S. Burgess*
William H. Cunningham*
Grace K. Fey
Noni L. Ellison^
Dean C. Garfield^
Marianne Harrison†
Deborah C. Jackson
Patricia Lizarraga*,^
Paul Lorentz‡
Frances G. Rathke*
Gregory A. Russo
Officers
Andrew G. Arnott
President
Charles A. Rizzo
Chief Financial Officer
Salvatore Schiavone
Treasurer
Christopher (Kit) Sechler
Secretary and Chief Legal Officer
Trevor Swanberg
Chief Compliance Officer
Investment advisor
John Hancock Investment Management LLC
Subadvisor
Wellington Management Company LLP
Portfolio Managers
Brian M. Garvey
Brij S. Khurana
Principal distributor
John Hancock Investment Management Distributors LLC
Custodian
State Street Bank and Trust Company
Transfer agent
John Hancock Signature Services, Inc.
Legal counsel
K&L Gates LLP
Independent registered public accounting firm
PricewaterhouseCoopers LLP
† Non-Independent Trustee
* Member of the Audit Committee
^ Elected to serve as Independent Trustee effective as of September 9, 2022.
‡ Elected to serve as Non-Independent Trustee effective as of September 9, 2022.
The fund’s proxy voting policies and procedures, as well as the fund proxy voting record for the most recent twelve-month period ended June 30, are available free of charge on the Securities and Exchange Commission (SEC) website at sec.gov or on our website.
All of the fund’s holdings as of the end of the third month of every fiscal quarter are filed with the SEC on Form N-PORT within 60 days of the end of the fiscal quarter. The fund’s Form N-PORT filings are available on our website and the SEC’s website, sec.gov.
We make this information on your fund, as well as monthly portfolio holdings, and other fund details available on our website at jhinvestments.com or by calling 800-225-5291.
| You can also contact us: | | |
| 800-225-5291 | Regular mail: | Express mail: |
| jhinvestments.com | John Hancock Signature Services, Inc.
P.O. Box 219909
Kansas City, MO 64121-9909 | John Hancock Signature Services, Inc.
430 W 7th Street
Suite 219909
Kansas City, MO 64105-1407 |
| | ANNUAL REPORT | JOHN HANCOCK OPPORTUNISTIC FIXED INCOME FUND | 89 |
John Hancock family of funds
U.S. EQUITY FUNDS
Blue Chip Growth
Classic Value
Disciplined Value
Disciplined Value Mid Cap
Equity Income
Financial Industries
Fundamental All Cap Core
Fundamental Large Cap Core
Mid Cap Growth
New Opportunities
Regional Bank
Small Cap Core
Small Cap Growth
Small Cap Value
U.S. Global Leaders Growth
U.S. Growth
INTERNATIONAL EQUITY FUNDS
Disciplined Value International
Emerging Markets
Emerging Markets Equity
Fundamental Global Franchise
Global Environmental Opportunities
Global Equity
Global Shareholder Yield
Global Thematic Opportunities
International Dynamic Growth
International Growth
International Small Company
FIXED-INCOME FUNDS
Bond
California Municipal Bond
Emerging Markets Debt
Floating Rate Income
Government Income
High Yield
High Yield Municipal Bond
Income
Investment Grade Bond
Money Market
Municipal Opportunities
Opportunistic Fixed Income
Short Duration Bond
Short Duration Municipal Opportunities
Strategic Income Opportunities
ALTERNATIVE FUNDS
Absolute Return Currency
Alternative Asset Allocation
Diversified Macro
Infrastructure
Multi-Asset Absolute Return
Real Estate Securities
Seaport Long/Short
A fund’s investment objectives, risks, charges, and expenses should be considered carefully before investing. The prospectus contains this and other important information about the fund. To obtain a prospectus, contact your financial professional, call John Hancock Investment Management at 800-225-5291, or visit our website at jhinvestments.com. Please read the prospectus carefully before investing or sending money.
EXCHANGE-TRADED FUNDS
John Hancock Corporate Bond ETF
John Hancock Mortgage-Backed Securities ETF
John Hancock Multifactor Consumer Discretionary ETF
John Hancock Multifactor Consumer Staples ETF
John Hancock Multifactor Developed International ETF
John Hancock Multifactor Emerging Markets ETF
John Hancock Multifactor Energy ETF
John Hancock Multifactor Financials ETF
John Hancock Multifactor Healthcare ETF
John Hancock Multifactor Industrials ETF
John Hancock Multifactor Large Cap ETF
John Hancock Multifactor Materials ETF
John Hancock Multifactor Media and
Communications ETF
John Hancock Multifactor Mid Cap ETF
John Hancock Multifactor Small Cap ETF
John Hancock Multifactor Technology ETF
John Hancock Multifactor Utilities ETF
John Hancock Preferred Income ETF
John Hancock U.S. High Dividend ETF
ENVIRONMENTAL,SOCIAL, AND
GOVERNANCE FUNDS
ESG Core Bond
ESG International Equity
ESG Large Cap Core
ASSET ALLOCATION/TARGET DATE FUNDS
Balanced
Multi-Asset High Income
Multi-Index Lifetime Portfolios
Multi-Index Preservation Portfolios
Multimanager Lifestyle Portfolios
Multimanager Lifetime Portfolios
CLOSED-END FUNDS
Asset-Based Lending
Financial Opportunities
Hedged Equity & Income
Income Securities Trust
Investors Trust
Preferred Income
Preferred Income II
Preferred Income III
Premium Dividend
Tax-Advantaged Dividend Income
Tax-Advantaged Global Shareholder Yield
John Hancock ETF shares are bought and sold at market price (not NAV), and are not individually redeemed from the fund. Brokerage commissions will reduce returns.
John Hancock ETFs are distributed by Foreside Fund Services, LLC, and are subadvised by Manulife Investment Management (US) LLC or Dimensional Fund Advisors LP. Foreside is not affiliated with John Hancock Investment Management Distributors LLC, Manulife Investment Management (US) LLC or Dimensional Fund Advisors LP.
Dimensional Fund Advisors LP receives compensation from John Hancock in connection with licensing rights to the John Hancock Dimensional indexes. Dimensional Fund Advisors LP does not sponsor, endorse, or sell, and makes no representation as to the advisability of investing in, John Hancock Multifactor ETFs.
A trusted brand
John Hancock Investment Management is a premier asset manager
with a heritage of financial stewardship dating back to 1862. Helping
our shareholders pursue their financial goals is at the core of everything
we do. It’s why we support the role of professional financial advice
and operate with the highest standards of conduct and integrity.
A better way to invest
We serve investors globally through a unique multimanager approach:
We search the world to find proven portfolio teams with specialized
expertise for every strategy we offer, then we apply robust investment
oversight to ensure they continue to meet our uncompromising
standards and serve the best interests of our shareholders.
Results for investors
Our unique approach to asset management enables us to provide
a diverse set of investments backed by some of the world’s best
managers, along with strong risk-adjusted returns across asset classes.
“A trusted brand” is based on a survey of 6,651 respondents conducted by Medallia between 3/18/20 and 5/13/20.
John Hancock Investment Management Distributors LLC, Member FINRA, SIPC
200 Berkeley Street, Boston, MA 02116-5010, 800-225-5291, jhinvestments.com
Manulife Investment Management, the Stylized M Design, and Manulife Investment Management & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and are used by its affiliates under license.
NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.
This report is for the information of the shareholders of John Hancock Opportunistic Fixed Income Fund. It is not authorized for distribution to prospective investors unless preceded or accompanied by a prospectus.
10/2022
Annual report
John Hancock
Funds II
August 31, 2022
John Hancock Funds II
Annual report — table of contents
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| Fund | Manager’s commentary and fund performance | Portfolio of investments |
| 4 |
| 15 |
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| 6 |
| 22 |
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| 8 |
| 36 |
| Fund | Manager’s commentary and fund performance | Portfolio of investments |
| 9 |
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| 10 |
| 68 |
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John Hancock Funds II
Manager’s commentary and fund performance
Fund performance
In the following pages, we've set forth information regarding the performance of certain funds of John Hancock Funds II (the Trust). There are several ways to evaluate a fund’s historical performance. One can look at the total percentage change in value, the average annual percentage change, or the growth of a hypothetical $10,000 investment. With respect to all performance information presented, it's important to understand that past performance does not guarantee future results. Return and principal fluctuate, and shares, when redeemed, may be worth more or less than their original cost.
Performance tables
The performance tables show two types of total return information: cumulative and average annual total returns. A cumulative total return is an expression of a fund’s total change in share value in percentage terms over a set period of time—one, five, and ten years (or since the fund’s inception if less than the applicable period). An average annual total return takes the fund’s cumulative total return for a time period greater than one year and shows what would have happened if the fund had performed at a constant rate each year. The tables show all cumulative and average annual total returns, net of fees and expenses of the Trust, but do not reflect the expenses of any insurance company separate accounts (including a possible contingent deferred sales charge) that may invest in the funds, as applicable. If these were included, performance would be lower.
Graph—change in value of $10,000 investment and comparative indexes
The performance graph for each fund (or portfolio) shows the change in value of a $10,000 investment over the life or
ten-year period of each fund (or portfolio), whichever is shorter. Each fund’s (or portfolio’s) performance is compared with the performance of one or more broad-based securities indexes as a “benchmark.” All performance information includes the reinvestment of dividends and capital gain distributions, as well as the deduction of ongoing management fees and fund (or portfolio) operating expenses. The benchmarks used for comparison are unmanaged and include reinvestment of dividends and capital gains distributions, if any, but do not reflect any fees or expenses. Funds (or portfolios), that invest in multiple asset classes are compared with a customized benchmark. This benchmark comprises a set percentage allocation from each of the asset classes in which the fund invests.
Portfolio manager’s commentary
Finally, we've provided a commentary by each portfolio manager regarding each fund’s (or portfolio’s) performance during the period ended August 31, 2022. The views expressed are those of the portfolio managers as of August 31, 2022, and are subject to change based on market and other conditions. Information about a fund’s (or portfolio’s) holdings, asset allocation, or country diversification is historical and is no indication of future fund composition, which will vary. Information provided in this report should not be considered a recommendation to purchase or sell securities. The funds (or portfolios) are not insured by the Federal Deposit Insurance Corp., are not deposits or other obligations of, or guaranteed by, banks, and are subject to investment risks, including loss of principal amount invested. For a more detailed discussion of the funds' objectives, risks and strategies, see the funds’ prospectuses.
Notes about risk
The funds are subject to various risks as described in the funds' prospectuses. Political tensions and armed conflicts, including the Russian invasion of Ukraine, and any resulting economic sanctions on entities and/or individuals of a particular country could lead such a country into an economic recession. The COVID-19 disease has resulted in significant disruptions to global business activity. A widespread health crisis such as a global pandemic could cause substantial market volatility, exchange-trading suspensions, and closures, which may lead to less liquidity in certain instruments, industries, sectors, or the markets, generally, and may ultimately affect fund performance. For more information, see the funds’ prospectuses.
Standard & Poor’s, Standard & Poor’s 500, “S&P 500,” and “S&P MidCap 400 Index” are trademarks of S&P Global, Inc. “Russell 1000,” “Russell 2000,” “Russell 3000,” and “Russell Midcap” are trademarks of Frank Russell Company. “EAFE” and “MSCI” are trademarks of MSCI, Inc. “Bloomberg” is a registered trademark of Bloomberg LP. “Lipper” is a registered trademark of Reuters S.A. None of the funds in the Trust is sponsored, endorsed, managed, advised, sold, or promoted by any of these companies, and none of these companies makes any representation regarding the advisability of investing in the Trust.
Capital Appreciation Fund
Subadvisor: Jennison Associates LLC
Portfolio Managers: Blair A. Boyer, Michael A. Del Balso, Rebecca Irwin, Natasha Kuhlkin, CFA, Kathleen A. McCarragher, Spiros (Sig) Segalas
INVESTMENT OBJECTIVE & POLICIES ► The fund seeks long-term growth of capital. Under normal market conditions, the fund invests at least 65% of its fund’s total assets in equity and equity-related securities of companies that, at the time of investment, exceed $1 billion in market capitalization and that the subadvisor believes to have above-average growth prospects.
CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEX
| Sector Composition (% of net assets) | |
| Information technology | 36.7 |
| Consumer discretionary | 29.0 |
| Health care | 11.7 |
| Communication services | 8.6 |
| Consumer staples | 4.6 |
| Financials | 3.6 |
| Industrials | 1.7 |
| Real estate | 1.6 |
| Energy | 1.4 |
| Short-term investments and other | 1.1 |
PORTFOLIO MANAGERS' COMMENTARY
Performance ► For the year ended August 31, 2022, the Capital Appreciation Fund Class NAV shares declined 31.44% and the Russell 1000 Growth Index declined 19.06%.
Environment ► Over the past year, the investment backdrop shifted from one of stimulus to one of high inflation and tightening financial conditions. U.S. equity markets ended 2021 at all-time highs, but surprisingly high inflation spurred the U.S. Federal Reserve to pivot to a tightening stance late in the year, leading to a spike in U.S. Treasury yields and a repricing of risk, which weighed heavily on higher-valuation, higher-growth stocks. Throughout the first half of 2022, these pressures persisted, exacerbated by the Russian invasion of Ukraine and COVID-19 lockdowns in China, leading to widespread concerns around global growth and the worst first-half performance for the S&P 500 Index in over 50 years.
The strategy’s underperformance during the period reflects this repricing of risk and a small number of fundamental disappointments. Holdings in information technology (IT) and communication services were the largest detractors. Specifically, Shopify, Inc., Netflix, Inc., and Snap, Inc. released disappointing results, with elevated uncertainty around their growth outlooks. Shopify and Snap were sold during the period. In addition, Alphabet, Inc. and Amazon.com, Inc. were among the top detractors.
Several of our positions in healthcare added value over the fiscal year, benefiting in part from the relative defensiveness of the sector, but also reflecting positive trends for a number of the portfolio’s holdings. Eli Lilly & Company and UnitedHealth Group, Inc. were top absolute and relative performers during the period. We view UnitedHealth Group, the largest healthcare benefit plan provider in the United States, as a quality compounder with limited
macroeconomic exposure and expect the company can deliver mid-teens earnings growth for the next few years, a positive outlook that we don't believe is reflected in the stock price. Eli Lilly is a diversified biopharmaceutical company with core franchises in diabetes, immunology, neurodegeneration, and oncology. The company’s product pipeline and R&D plans lead us to expect significant growth in revenues and earnings, driven largely by new treatments for diabetes and the potential for use in treatment of obesity.
We made adjustments to the portfolio during the period in response to elevated risk and lower growth expectations. That said, secular growth remains the driving force behind our holdings. Specifically, we reduced positions in companies that benefited disproportionately from the pandemic, as well as social media and select consumer names, and added to more economically defensive positions in sectors like healthcare.
| PERFORMANCE TABLE | Average Annual Total Return | Cumulative Total Return |
| Total returns for the period ended 8-31-22 (%) | 1-year | 5-year | 10-year | 5-year | 10-year |
| Capital Appreciation Fund Class 1 | -31.48 | 12.21 | 14.26 | 77.88 | 279.19 |
| Capital Appreciation Fund Class NAV | -31.44 | 12.26 | 14.31 | 78.29 | 280.80 |
| Russell 1000 Growth Index | -19.06 | 14.78 | 15.09 | 99.21 | 307.83 |
Performance does not reflect the deduction of taxes on fund distributions or redemptions of fund shares. Past performance does not guarantee future results.
Since inception, a portion of the Capital Appreciation Fund expenses was reimbursed. If such expenses had not been reimbursed, returns would be lower.
The Russell 1000 Growth Index tracks the performance of publicly traded large-cap companies in the United States with higher price-to-book ratios and higher forecasted growth values.
It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.
The expense ratios of the fund, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the fund and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until July 31, 2024 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
| | Class 1 | Class NAV |
| Gross (%) | 0.79 | 0.74 |
| Net (%) | 0.78 | 0.73 |
Capital Appreciation Value Fund
Subadvisor: T. Rowe Price Associates, Inc.
Portfolio Manager: David R. Giroux, CFA
INVESTMENT OBJECTIVE & POLICIES ► The fund seeks long-term capital appreciation. Common stocks typically constitute at least 50% of the fund’s total assets. The remaining assets are generally invested in other securities, including convertible securities, corporate and government debt, bank loans, foreign securities, futures, and options.
CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEXES
| Portfolio Composition (% of net assets) | |
| Common stocks | 60.0 |
| Term loans | 14.3 |
| U.S. Government | 7.9 |
| Corporate bonds | 7.2 |
| Preferred securities | 0.5 |
| Convertible bonds | 0.2 |
| Short-term investments and other | 9.9 |
PORTFOLIO MANAGER'S COMMENTARY
Performance ► For the year ended August 31, 2022, the Capital Appreciation Value Fund Class NAV shares declined 7.56% and the S&P 500 Index declined 11.23%.
Environment ► Overall, U.S. stocks generated negative returns for the 12-month period ended August 31, 2022, as major indexes declined amid heightened volatility. At the start of the period, investors were generally optimistic as the economy continued to recover from the pandemic-induced downturn and corporate earnings growth remained strong. Sentiment was also buoyed by the passage of bipartisan federal infrastructure spending legislation in mid-November. However, the spread of the coronavirus variants and growing expectations that the U.S. Federal Reserve (Fed) would soon begin to taper its monthly asset purchases periodically weighed on the market in late 2021. This volatility gave way to a broad sell-off, as stocks have declined considerably through period end. Investors shunned
riskier assets in response to Russia’s invasion of Ukraine, elevated inflation exacerbated by rising commodity prices, and the Fed’s interest rate increases that started in mid-March. Market participants were also concerned about inflation’s impact on consumer spending and corporate profits, particularly as some high-profile companies and major retailers disappointed with their financial results or projections.
In this environment, the S&P 500 Index generated double-digit losses. Sector performance was mixed, with the energy sector leading the way with extraordinary gains. Traditionally defensive sectors such as utilities and consumer staples also fared well. Conversely, the communication services and consumer discretionary sectors posted the steepest declines.
From an asset class perspective, the fund’s underlying equity holdings declined but slightly underperformed the S&P 500 Index. The fund’s bond holdings also
declined but significantly outperformed the Bloomberg U.S. Aggregate Bond Index.
Among equities, the communication services sector was the top contributor due to a favorable underweight allocation and stock selection. Stock picks in the financials sector also added value over the period, driven primarily by the fund's position in global insurance brokerage firm Marsh and McLennan Companies, Inc., which outpaced sector peers.
An underweight allocation to the energy sector was the most notable detractor. The industrials and business services sector also hurt relative performance due to stock picks, driven by our position in industrial conglomerate General Electric Company. Pandemic-induced weakness in air travel and rising input costs from inflation weighed on the company’s share price. The fund's covered call strategy detracted from the fund's return on an absolute basis.
| PERFORMANCE TABLE | Average Annual Total Return | Cumulative Total Return |
| Total returns for the period ended 8-31-22 (%) | 1-year | 5-year | 10-year | 5-year | 10-year |
| Capital Appreciation Value Fund Class NAV | -7.56 | 10.14 | 11.24 | 62.04 | 190.05 |
| S&P 500 Index | -11.23 | 11.82 | 13.08 | 74.86 | 241.73 |
| Blended Index | -11.07 | 7.53 | 8.49 | 43.74 | 125.86 |
Performance does not reflect the deduction of taxes on fund distributions or redemptions of fund shares. Past performance does not guarantee future results.
Since inception, a portion of the Capital Appreciation Value Fund expenses was reimbursed. If such expenses had not been reimbursed, returns would be lower.
The S&P 500 Index tracks the performance of 500 of the largest publicly traded companies in the United States.
The Blended Index is 60% S&P 500 Index and 40% Bloomberg U.S. Aggregate Bond Index.
It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.
The expense ratios of the fund, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the fund and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until July 31, 2024 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
| | Class NAV |
| Gross (%) | 0.86 |
| Net (%) | 0.85 |
Core Bond Fund
Subadvisor: Allspring Global Investments, LLC (formerly Wells Capital Management, Incorporated)
Portfolio Managers: Maulik Bhansali, CFA, Jarad Vasquez
INVESTMENT OBJECTIVE & POLICIES ► The fund seeks total return consisting of income and capital appreciation. Under normal market conditions, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in a broad range of investment-grade debt securities, including U.S. government obligations, corporate bonds, mortgage-backed and other asset-backed securities, and money market instruments.
CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEX
| Portfolio Composition (% of total investments) | |
| U.S. Government | 27.2 |
| Corporate bonds | 24.3 |
| U.S. Government Agency | 24.0 |
| Asset backed securities | 9.4 |
| Collateralized mortgage obligations | 8.8 |
| Foreign government obligations | 0.7 |
| Municipal bonds | 0.2 |
| Short-term investments | 5.4 |
PORTFOLIO MANAGERS' COMMENTARY
Performance ► For the year ended August 31, 2022, the Core Bond Fund Class NAV shares declined 12.30% and the Bloomberg U.S. Aggregate Bond Index declined 11.52%.
Environment ► Sector positioning in agency mortgage-backed securities (MBS), particularly a sector underweight during the period, was a key contributor to relative performance. In addition, an underweight position in commercial mortgage-backed securities (CMBS) was a small contributor. On the other hand, the fund's positioning in the credit and asset-backed securities
sectors detracted from performance as spreads widened during the 12 month period.
Security selection overall detracted from relative performance. Selection in credit was negative, particularly within the U.S. banks, technology, insurance, and consumer sectors. Within the ABS sector, security selection within non-qualifying mortgages (residential mortgage-backed securities) and student loan ABS detracted. Finally, security selection within collateralized mortgage obligations detracted from relative performance.
We maintained the fund's largest overweight in ABS, seeing value in high-quality segments of the market.
We modestly decreased the fund's overweight in credit as a lighter primary calendar and intra-month spread tightening created opportunities to reduce exposure ahead of an expected busy primary market in September. We continued to underweight agency MBS as broad valuations remain challenging in the current elevated volatility environment. We remained lightly positioned in CMBS, favoring other credit-related sectors.
| PERFORMANCE TABLE | Average Annual Total Return | Cumulative Total Return |
| Total returns for the period ended 8-31-22 (%) | 1-year | 5-year | 10-year | 5-year | 10-year |
| Core Bond Fund Class 1 | -12.33 | 0.22 | 1.20 | 1.13 | 12.64 |
| Core Bond Fund Class NAV | -12.30 | 0.28 | 1.25 | 1.38 | 13.22 |
| Bloomberg U.S. Aggregate Bond Index | -11.52 | 0.52 | 1.35 | 2.62 | 14.36 |
Performance does not reflect the deduction of taxes on fund distributions or redemptions of fund shares. Past performance does not guarantee future results.
Since inception, a portion of the Core Bond Fund expenses was reimbursed. If such expenses had not been reimbursed, returns would be lower.
The Bloomberg U.S. Aggregate Bond Index tracks the performance of U.S. investment-grade bonds in government, asset-backed, and corporate debt markets.
It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.
The expense ratios of the fund, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the fund and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until July 31, 2024 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
| | Class 1 | Class NAV |
| Gross (%) | 0.67 | 0.62 |
| Net (%) | 0.66 | 0.61 |
Health Sciences Fund
Subadvisor: T. Rowe Price Associates, Inc.
Portfolio Manager: Ziad Bakri, MD, CFA
INVESTMENT OBJECTIVE & POLICIES ► The fund seeks long-term capital appreciation. Under normal market conditions, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in common stocks of companies engaged, at the time of investment, in the research, development, production, or distribution of products or services related to healthcare, medicine, or the life sciences.
CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEXES
| Industry Composition (% of net assets) | |
| Biotechnology | 26.9 |
| Health care providers and services | 20.7 |
| Life sciences tools and services | 16.8 |
| Health care equipment and supplies | 16.5 |
| Pharmaceuticals | 15.9 |
| Health care technology | 1.7 |
| Industrial conglomerates | 0.3 |
| Specialty retail | 0.2 |
| Electronic equipment, instruments and components | 0.1 |
| Capital markets | 0.1 |
| Chemicals | 0.1 |
| Short-term investments and other | 0.7 |
PORTFOLIO MANAGER'S COMMENTARY
Performance ► For the year ended August 31, 2022, the Health Sciences Fund Class NAV shares declined 19.99%, and the Lipper Health/Biotechnology Index declined 20.78%.
Environment ► Equity markets generated losses in the 12-month period through August 31, 2022. Several indexes reached new highs as U.S. stocks advanced in the fourth quarter of 2021, but markets reversed course in the new year. Elevated inflation and the U.S. Federal Reserve’s aggressive action to combat price increases, along with the Russian invasion of Ukraine, weighed on equities, sending U.S. stocks into a correction and putting the economy on the brink of recession. Within the Lipper Health/Biotechnology Index, subsector performance was largely negative. The products and devices, biotechnology, and life sciences subsectors all posted
double-digit losses for the period, and services also lost ground. The pharmaceuticals subsector was the only group to register a gain for the year.
Services was the largest relative performance contributor as our overweight exposure to the subsector benefited relative results. Services was the second-best-performing subsector in the benchmark during the period, mainly due to the managed care industry. With pandemic headwinds declining precipitously and political overhangs abating, managed care stocks broadly outperformed. Additionally, these largely domestic-oriented businesses have demonstrated the ability to adjust price and/or benefits in response to cost inflation, which investors have appreciated.
Stock selection within pharmaceuticals along with an overweight allocation to the subsector also added
value. Shares of Eli Lilly & Company surged in mid-May, when the U.S. Food and Drug Administration approved tirzepatide, the company’s once-weekly injection to improve blood sugar control in adults with type 2 diabetes. The company subsequently announced positive details of a phase 3 trial for tirzepatide to treat obesity, which could be a significant market opportunity.
Alternatively, the life sciences subsector hurt relative returns due largely to security choices, although an overweight allocation also detracted. Shares of Pacific Biosciences of California, Inc. declined throughout the period as consecutive quarterly earnings reports underwhelmed the market with lackluster sales figures and multiple guidance reductions.
| PERFORMANCE TABLE | Average Annual Total Return | Cumulative Total Return |
| Total returns for the period ended 8-31-22 (%) | 1-year | 5-year | 10-year | 5-year | 10-year |
| Health Sciences Fund Class NAV (began 9/30/11) | -19.99 | 9.38 | 14.72 | 56.56 | 294.73 |
| S&P 500 Index | -11.23 | 11.82 | 13.08 | 74.86 | 241.73 |
| Lipper Health/Biotechnology Index | -20.78 | 7.67 | 13.47 | 44.72 | 253.94 |
Performance does not reflect the deduction of taxes on fund distributions or redemptions of fund shares. Past performance does not guarantee future results.
Since inception, a portion of the Health Sciences Fund expenses was reimbursed. If such expenses had not been reimbursed, returns would be lower.
The S&P 500 Index tracks the performance of 500 of the largest publicly traded companies in the United States.
The Lipper Health/Biotechnology Index tracks the largest mutual funds within the health biotechnology category.
It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.
The expense ratios of the fund, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the fund and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until July 31, 2024 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
| | Class NAV |
| Gross (%) | 0.96 |
| Net (%) | 0.95 |
High Yield Fund
Subadvisor: Western Asset Management Company, LLC
Portfolio Managers: Michael C. Buchanan, CFA, Walter E. Kilcullen, S. Kenneth Leech
INVESTMENT OBJECTIVE & POLICIES ► The fund seeks to realize an above-average total return over a market cycle of three to five years, consistent with reasonable risk. Under normal market conditions, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) at the time of investment in high-yield securities.
CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEX
| Portfolio Composition (% of net assets) | |
| Corporate bonds | 81.6 |
| Asset backed securities | 7.2 |
| Term loans | 5.7 |
| Convertible bonds | 1.1 |
| Preferred securities | 0.7 |
| Foreign government obligations | 0.7 |
| Common stocks | 0.7 |
| Short-term investments and other | 2.3 |
PORTFOLIO MANAGERS' COMMENTARY
Performance ► For the year ended August 31, 2022, the High Yield Fund Class 1 shares declined 12.21% and the Bloomberg U.S. High Yield 2% Issuer Capped Index declined 10.61%.
Environment ► Within the high-yield market, spreads continued to widen during the 1-year period ended August 31, 2022. High quality outperformed
the index while lower quality underperformed the index over the period. High yield valuations improved meaningfully from last fiscal year as interest rates and spreads increased.
Industry allocation aided relative performance due to exposure in the non-agency, transportation, non-cyclical consumer and consumer cyclical sectors.
Issue selection was the largest detractor from relative returns largely due to issuer tilts within the capital goods and consumer cyclical sectors while selection in industrial and technology helped performance. Opportunistic allocation to investment grade contributed to relative performance however the total exposure to lower quality offset the gain.
| PERFORMANCE TABLE | Average Annual Total Return | Cumulative Total Return |
| Total returns for the period ended 8-31-22 (%) | 1-year | 5-year | 10-year | 5-year | 10-year |
| High Yield Fund Class 1 | -12.21 | 2.13 | 3.68 | 11.13 | 43.49 |
| Bloomberg U.S. High Yield 2% Issuer Capped Index | -10.61 | 2.57 | 4.50 | 13.52 | 55.35 |
Performance does not reflect the deduction of taxes on fund distributions or redemptions of fund shares. Past performance does not guarantee future results.
Since inception, a portion of the High Yield Fund expenses was reimbursed. If such expenses had not been reimbursed, returns would be lower.
The Bloomberg U.S. High Yield 2% Issuer Capped Index, formerly known as Bloomberg Barclays U.S. High Yield 2% Issuer Capped Index, tracks the performance of U.S. dollar-denominated, non-investment-grade, fixed-rate, taxable corporate bonds with exposure of each issuer capped at 2%.
It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.
The expense ratios of the fund, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the fund and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until July 31, 2024 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
| | Class 1 |
| Gross (%) | 0.84 |
| Net (%) | 0.83 |
International Strategic Equity Allocation Fund
Subadvisor: Manulife Investment Management (US) LLC
Portfolio Managers: Nathan W. Thooft, CFA, Matthew Murphy, CFA
INVESTMENT OBJECTIVE & POLICIES ► The fund seeks capital appreciation. The fund seeks to achieve its investment objective by investing under normal market conditions at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities of any market capitalization, including futures on indexes of equity securities. The fund invests primarily in foreign securities.
CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEX
| Sector Composition (% of net assets) | |
| Financials | 19.8 |
| Industrials | 11.1 |
| Consumer discretionary | 10.8 |
| Information technology | 9.1 |
| Consumer staples | 9.0 |
| Health care | 8.9 |
| Materials | 8.1 |
| Energy | 7.0 |
| Communication services | 5.8 |
| Utilities | 3.3 |
| Real estate | 2.2 |
| Short-term investments and other | 4.9 |
PORTFOLIO MANAGERS' COMMENTARY
Performance ► For the year ended August 31, 2022, the International Strategic Equity Allocation Fund Class NAV shares declined 21.25% and the MSCI All Country World ex USA Index declined 19.52%.
Environment ► Driven by a challenging market environment, the fund produced negative absolute returns and underperformed its respective benchmark. The underperformance was driven by our country rotation strategy in both emerging and developed markets.
Some elements of the fund’s positioning contributed positively. Most notably, an overweight in Canada, which benefited from its energy heavy economy. Additionally, an underweight to the Netherlands boosted returns.
Underperformance was largely driven by an overweight in a number of emerging-market countries and a subsequent underweight in developed-market countries. From a country selection perspective, an underweight in Japan and an overweight in United Kingdom hurt returns. Within
emerging markets, an underweight in Saudi Arabia and an overweight in Russia weighed on returns.
Country positioning in this strategy is determined by our tactical allocation, which is driven by a number of technical factors, fundamentals, sentiment, and our economic outlook. Driven by these factors, at period end, the fund was overweight in United Kingdom and Canada, and underweight in Japan.
| PERFORMANCE TABLE | Average Annual Total Return | Cumulative Total Return |
| Total returns for the period ended 8-31-22 (%) | 1-year | 5-year | Since
inception | 5-year | Since
inception |
| International Strategic Equity Allocation Fund Class NAV (began 10/17/16) | -21.25 | 0.51 | 3.34 | 2.58 | 21.31 |
| MSCI ACWI ex USA Index | -19.52 | 1.67 | 4.54 | 8.64 | 29.80 |
Performance does not reflect the deduction of taxes on fund distributions or redemptions of fund shares. Past performance does not guarantee future results.
Since inception, a portion of the International Strategic Equity Allocation Fund expenses was reimbursed. If such expenses had not been reimbursed, returns would be lower.
The MSCI All Country World (ACWI) ex USA Index tracks the performance of publicly traded large- and mid-cap stocks of companies in both developed markets and emerging markets, excluding the United States.
It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.
The expense ratios of the fund, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the fund and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until July 31, 2024 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
| | Class NAV |
| Gross (%) | 0.72 |
| Net (%) | 0.71 |
Mid Value Fund
Subadvisor: T. Rowe Price Associates, Inc.
Portfolio Manager: Vincent DeAugustino, CFA. Effective June 1, 2022, Vincent DeAugustino, CFA, replaced David J. Wallack.
INVESTMENT OBJECTIVE & POLICIES ► The fund seeks long-term capital appreciation. Under normal market conditions, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in companies with market capitalizations that are within the S&P MidCap 400 Index or the Russell Midcap Value Index.
CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEX
| Sector Composition (% of net assets) | |
| Financials | 17.8 |
| Health care | 12.7 |
| Industrials | 10.7 |
| Energy | 8.2 |
| Materials | 8.0 |
| Consumer staples | 7.9 |
| Real estate | 6.2 |
| Consumer discretionary | 5.9 |
| Communication services | 5.7 |
| Utilities | 5.5 |
| Information technology | 4.8 |
| Short-term investments and other | 6.6 |
PORTFOLIO MANAGER'S COMMENTARY
Performance ► For the year ended August 31, 2022, the Mid Value Fund Class NAV shares declined 1.38% and the Russell Midcap Value Index declined 7.80%.
Environment ► U.S. stocks broadly struggled during the 12 months ended August 31, 2022, as climbing valuations at the end of 2021 due to favorable U.S. Federal Reserve (Fed) policy and post-pandemic optimism turned and multiple sell-offs pulled down the market.
As 2021 wound down, the spread of the Omicron variant of the coronavirus and growing expectations that the Fed could soon begin to taper its monthly asset purchases periodically weighed on the market. Stocks declined considerably in the first half of 2022, and the S&P 500 Index posted its worst first-half return in over five decades. Investors shunned riskier assets in response to Russia’s invasion of Ukraine, elevated inflation exacerbated by rising commodity prices, and Fed interest rate increases starting in mid-March. Investors were also concerned about inflation’s impact on consumer spending and
corporate profits, particularly as some high-profile companies and major retailers disappointed with their financial results or projections in the first half of the year.
Despite these headwinds, the market enjoyed a mid-summer rally as some second-quarter corporate earnings reports were better than expected and measures of inflation, such as the Consumer Price Index, retreated from recent peaks. Those gains proved short-lived after central bank officials signaled a willingness to risk a recession by raising rates and keeping them elevated in an effort to bring down inflation.
Over the 12-month period, large-cap stocks outperformed mid-cap and small-cap stocks, according to various Russell indexes. Value significantly outperformed growth in all market capitalizations.
Favorable sector allocations drove the portfolio’s outperformance during the period. An overweight position in the energy sector contributed significantly
to relative performance as volatility in global energy markets, thanks to Russia’s invasion of Ukraine as well as inflation, caused energy prices to rise. Adverse stock picks pulled back some gains within the sector. Additionally, an underweight in the consumer discretionary sector contributed to relative performance in the period. Within the consumer staples sector, the portfolio’s stock picks and overweight position drove relative outperformance, particularly within the food products industry.
Stock picks within financials sectors detracted from relative returns during the period as the impacts of central bank policies created difficulties for companies with exposure to rising interest rates. The portfolio’s holdings in the insurance and capital markets industries particularly weighed on relative performance. An overweight position in the health care sector also detracted from relative returns, with the health care equipment and supplies industry lagging during the period.
| PERFORMANCE TABLE | Average Annual Total Return | Cumulative Total Return |
| Total returns for the period ended 8-31-22 (%) | 1-year | 5-year | 10-year | 5-year | 10-year |
| Mid Value Fund Class NAV | -1.38 | 7.74 | 10.60 | 45.20 | 173.86 |
| Russell Midcap Value Index | -7.80 | 7.49 | 10.81 | 43.51 | 179.01 |
Performance does not reflect the deduction of taxes on fund distributions or redemptions of fund shares. Past performance does not guarantee future results.
Since inception, a portion of the Mid Value Fund expenses was reimbursed. If such expenses had not been reimbursed, returns would be lower.
The Russell Midcap Value Index tracks the performance of publicly traded mid-cap companies with lower price-to-book ratios and lower forecasted growth values.
It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.
The expense ratios of the fund, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the fund and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until July 31, 2024 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
| | Class NAV |
| Gross (%) | 0.92 |
| Net (%) | 0.91 |
Science & Technology Fund
Subadvisor: T. Rowe Price Associates, Inc. Effective June 23, 2022, T. Rowe Price Associates, Inc. became the sole subadvisor to the fund and Allianz Global Investors U.S. LLC no longer served as subadvisor.
Portfolio Manager: Ken Allen
INVESTMENT OBJECTIVE & POLICIES ► The fund seeks long-term growth of capital. Current income is incidental to the fund’s objective. Under normal market conditions, the fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in the common stocks of companies expected to benefit from the development, advancement, and/or use of science and technology.
CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEXES
| Sector Composition (% of net assets) | |
| Information technology | 46.2 |
| Consumer discretionary | 30.5 |
| Communication services | 16.6 |
| Real estate | 0.8 |
| Health care | 0.5 |
| Short-term investments and other | 5.4 |
PORTFOLIO MANAGER'S COMMENTARY
Performance ► For the year ended August 31, 2022, the Science & Technology Fund Class NAV shares declined 33.02% and the Lipper Science and Technology Index declined 29.27%.
Environment ► Overall, U.S. stocks declined during the 12-month period ended August 31, 2022. Investors remained optimistic at the beginning of the period as the economy continued to recover and corporate earnings growth remained strong. Sentiment was also buoyed by the passage of bipartisan federal infrastructure spending legislation in mid-November. However, the spread of the Delta and Omicron variants of the coronavirus and growing expectations that the U.S. Federal Reserve could soon begin to taper its monthly asset purchases periodically weighed on the market in late 2021.
Stock selection in internet detracted from relative performance as the subsector posted double-digit losses and lagged the broader index. Shares of
European online fashion marketplace Zalando SE slumped on weakening in consumer spending in its core markets. VK Company, Ltd., a leading Russian online communications company, saw its share price collapse after Russia invaded Ukraine and Western countries began imposing economic and financial sanctions on Russia. Soon thereafter, U.S. exchanges halted the trading of Russian stocks and the Moscow Exchange shut down. In the software space, stock selection caused additional underperformance. Shares of Zoom Video Communications, Inc. declined during much of the period on investor and analyst concerns about the company’s slowing growth.
An overweight position in semiconductors added to relative results as the subsector declined but fared better than the broader index during the period.
In addition, the fund’s lack of exposure to financial services contributed to relative returns as the subsector underperformed the broader index. In
particular, not owning PayPal Holdings, Inc., a leader in digital payments, added value. Shares declined during much of the period as the company reported a string of mixed or weak quarterly results and disappointing outlooks.
An underweight position in health care was beneficial as the subsector underperformed the broader index during the year.
Stock selection in hardware proved beneficial for relative returns as well. The fund’s overweight in Pure Storage, Inc., a software company that provides enterprise-wide data storage solutions, added to relative returns. Not including streaming TV platform Roku, Inc. in the fund benefited relative performance. Its stock price was driven down after reporting weak revenue growth and earnings guidance that was well below analysts’ expectations.
| PERFORMANCE TABLE | Average Annual Total Return | Cumulative Total Return |
| Total returns for the period ended 8-31-22 (%) | 1-year | 5-year | Since
inception | 5-year | Since
inception |
| Science & Technology Fund Class NAV (began 2/14/13) | -33.02 | 11.65 | 15.40 | 73.50 | 292.46 |
| S&P 500 Index | -11.23 | 11.82 | 12.69 | 74.86 | 212.88 |
| Lipper Science and Technology Index | -29.27 | 13.02 | 15.35 | 84.37 | 290.79 |
Performance does not reflect the deduction of taxes on fund distributions or redemptions of fund shares. Past performance does not guarantee future results.
Since inception, a portion of the Science & Technology Fund expenses was reimbursed. If such expenses had not been reimbursed, returns would be lower.
The S&P 500 Index tracks the performance of 500 of the largest publicly traded companies in the United States.
The Lipper Science and Technology Index consists of the 30 largest funds in the Lipper peer category that invest primarily in the equity securities of domestic companies engaged in science and technology.
It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.
The expense ratios of the fund, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the fund and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until July 31, 2024 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
| | Class NAV |
| Gross (%) | 1.02 |
| Net (%) | 1.01 |
U.S. Sector Rotation Fund
Subadvisor: Manulife Investment Management (US) LLC
Portfolio Managers: Nathan W. Thooft, CFA, and Matthew Murphy, CFA
INVESTMENT OBJECTIVE & POLICIES ► The fund seeks capital appreciation. The fund seeks to achieve its objective by investing under normal market conditions at least 80% of its net assets (plus any borrowings for investment purposes) in U.S. equity securities of any market capitalization, including futures on indexes of equity securities.
CHANGE IN VALUE OF $10,000 INVESTMENT AND COMPARATIVE INDEX
| Sector Composition (% of net assets) | |
| Information technology | 22.5 |
| Health care | 12.3 |
| Financials | 10.9 |
| Consumer discretionary | 10.7 |
| Consumer staples | 9.5 |
| Industrials | 8.5 |
| Communication services | 6.9 |
| Utilities | 4.7 |
| Energy | 4.4 |
| Real estate | 2.6 |
| Materials | 2.3 |
| Short-term investments and other | 4.7 |
PORTFOLIO MANAGERS' COMMENTARY
Performance ► For the year ended August 31, 2022, the U.S. Sector Rotation Fund Class NAV shares declined 12.17% and the S&P 500 Index declined 11.23%.
Environment ► Overall, U.S. stocks generated negative returns for the 12-month period ended August 31, 2022, as major indexes declined amid heightened volatility. At the start of the period, investors were generally optimistic as the economy continued to recover from the pandemic-induced downturn and corporate earnings growth remained strong. Sentiment was also buoyed by the passage of bipartisan federal infrastructure spending legislation in mid-November. However, the spread of the coronavirus variants and growing expectations that
the U.S. Federal Reserve (Fed) would soon begin to taper its monthly asset purchases periodically weighed on the market in late 2021. This volatility gave way to a broad sell-off, as stocks have declined considerably through period end. Investors shunned riskier assets in response to Russia’s invasion of Ukraine, elevated inflation exacerbated by rising commodity prices, and the Fed’s interest rate increases that started in mid-March.
Driven by a challenging market environment, the portfolio produced negative absolute returns and trailed its respective benchmark. The underperformance was driven by selection across a variety of sectors, with energy being a large detractor.
A number of allocations in the portfolio contributed positively. Most notably, an overweight to communication services and within that sector, an overweight in the Interactive Media & Services Industry. Timing also helped this positioning, despite the sector’s poor performance across the full period. Additionally, an underweight in the utilities sector helped returns.
Conversely, some positioning detracted from returns. These included most notably an underweight in the health care sector and an overweight in the financials sector. Within these sectors, the overweights in the banks and diversified financial services were the largest drags on performance.
| PERFORMANCE TABLE | Average Annual Total Return | Cumulative Total Return |
| Total returns for the period ended 8-31-22 (%) | 1-year | 5-year | Since
inception | 5-year | Since
inception |
| U.S. Sector Rotation Fund Class NAV (began 9/26/16) | -12.17 | 10.70 | 11.72 | 66.25 | 92.99 |
| S&P 500 Index | -11.23 | 11.82 | 12.74 | 74.86 | 103.62 |
Performance does not reflect the deduction of taxes on fund distributions or redemptions of fund shares. Past performance does not guarantee future results.
Since inception, a portion of the U.S. Sector Rotation Fund expenses was reimbursed. If such expenses had not been reimbursed, returns would be lower.
The S&P 500 Index tracks the performance of 500 of the largest publicly traded companies in the United States.
It is not possible to invest directly in an index. Index figures do not reflect expenses or sales charges, which would result in lower returns.
The expense ratios of the fund, both net (including any fee waivers or expense limitations) and gross (excluding any fee waivers or expense limitations), are set forth according to the most recent publicly available prospectus for the fund and may differ from the expense ratios disclosed in the financial highlights tables in this report. Net expenses reflect contractual expense limitations in effect until July 31, 2024 and are subject to change. Had the contractual fee waivers and expense limitations not been in place, gross expenses would apply. The expense ratios are as follows:
| | Class NAV |
| Gross (%) | 0.67 |
| Net (%) | 0.66 |
John Hancock Funds II
Shareholder expense example
As a shareholder of John Hancock Funds II, you incur ongoing costs, such as management fees, distribution (Rule 12b-1) fees and other expenses.
These examples are intended to help you understand your ongoing costs (in dollars) of investing in a fund so you can compare these costs with the ongoing costs of investing in other mutual funds. The examples are based on an investment of $1,000 at the beginning of the period and held for the entire period (March 1, 2022 through August 31, 2022).
Actual expenses:
The first line of each share class in the following table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading entitled “Expenses paid during period ended” to estimate the expenses you paid on your account during this period.
Hypothetical example for comparison purposes:
The second line of each share class in the following table provides information about hypothetical account values and hypothetical expenses based on the actual expense ratio for the share class and an assumed annualized rate of return of 5% per year before expenses, which is not the actual return of the share class. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in a fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. Please remember that these hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period.
Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs and insurance-related charges. Therefore, the second line of each share class in the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.
| | | Account
value on
3-1-2022 | Ending
value on
8-31-2022 | Expenses
paid during
period ended
8-31-20221 | Annualized
expense
ratio |
| Capital Appreciation Fund |
| Class 1 | Actual expenses/actual returns | $1,000.00 | $833.50 | $3.70 | 0.80% |
| | Hypothetical example | 1,000.00 | 1,021.20 | 4.08 | 0.80% |
| Class NAV | Actual expenses/actual returns | 1,000.00 | 833.30 | 3.47 | 0.75% |
| | Hypothetical example | 1,000.00 | 1,021.40 | 3.82 | 0.75% |
| Capital Appreciation Value Fund |
| Class NAV | Actual expenses/actual returns | $1,000.00 | $937.90 | $4.05 | 0.83% |
| | Hypothetical example | 1,000.00 | 1,021.00 | 4.23 | 0.83% |
| Core Bond Fund |
| Class 1 | Actual expenses/actual returns | $1,000.00 | $917.70 | $3.19 | 0.66% |
| | Hypothetical example | 1,000.00 | 1,021.90 | 3.36 | 0.66% |
| Class NAV | Actual expenses/actual returns | 1,000.00 | 917.80 | 2.95 | 0.61% |
| | Hypothetical example | 1,000.00 | 1,022.10 | 3.11 | 0.61% |
| Health Sciences Fund |
| Class NAV | Actual expenses/actual returns | $1,000.00 | $961.50 | $4.65 | 0.94% |
| | Hypothetical example | 1,000.00 | 1,020.50 | 4.79 | 0.94% |
| High Yield Fund |
| Class 1 | Actual expenses/actual returns | $1,000.00 | $903.70 | $4.08 | 0.85% |
| | Hypothetical example | 1,000.00 | 1,020.90 | 4.33 | 0.85% |
| International Strategic Equity Allocation Fund |
| Class NAV | Actual expenses/actual returns | $1,000.00 | $854.90 | $2.66 | 0.57% |
| | Hypothetical example | 1,000.00 | 1,022.30 | 2.91 | 0.57% |
| Mid Value Fund |
| Class NAV | Actual expenses/actual returns | $1,000.00 | $921.40 | $4.26 | 0.88% |
| | Hypothetical example | 1,000.00 | 1,020.80 | 4.48 | 0.88% |
| Science & Technology Fund |
| Class NAV | Actual expenses/actual returns | $1,000.00 | $807.00 | $4.74 | 1.04% |
| | Hypothetical example | 1,000.00 | 1,020.00 | 5.30 | 1.04% |
John Hancock Funds II
Shareholder expense example
| | | Account
value on
3-1-2022 | Ending
value on
8-31-2022 | Expenses
paid during
period ended
8-31-20221 | Annualized
expense
ratio |
| U.S. Sector Rotation Fund |
| Class NAV | Actual expenses/actual returns | $1,000.00 | $903.90 | $2.50 | 0.52% |
| | Hypothetical example | 1,000.00 | 1,022.60 | 2.65 | 0.52% |
| 1 | Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 184/365 (to reflect the one-half year period). |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
Capital Appreciation Fund
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS – 98.9% | | | |
| Communication services – 8.6% | | | | | |
| Entertainment – 1.0% | | | |
| Netflix, Inc. (A) | | 32,552 | | $ | 7,277,325 |
| ROBLOX Corp., Class A (A) | | 170,792 | | | 6,679,675 |
| | | | | | 13,957,000 |
| Interactive media and services – 7.6% | | | |
| Alphabet, Inc., Class A (A) | | 390,619 | | | 42,272,788 |
| Alphabet, Inc., Class C (A) | | 376,219 | | | 41,064,304 |
| Meta Platforms, Inc., Class A (A) | | 85,910 | | | 13,997,316 |
| ZoomInfo Technologies, Inc. (A) | | 176,896 | | | 8,034,616 |
| | | | | | 105,369,024 |
| | | | | | 119,326,024 |
| Consumer discretionary – 29.0% | | | | | |
| Automobiles – 7.9% | | | |
| Tesla, Inc. (A) | | 397,821 | | | 109,643,445 |
| Hotels, restaurants and leisure – 4.1% | | | |
| Airbnb, Inc., Class A (A) | | 138,331 | | | 15,648,003 |
| Chipotle Mexican Grill, Inc. (A) | | 10,678 | | | 17,050,630 |
| Marriott International, Inc., Class A | | 108,397 | | | 16,664,955 |
| McDonald's Corp. | | 26,706 | | | 6,737,390 |
| | | | | | 56,100,978 |
| Internet and direct marketing retail – 7.7% | | | |
| Amazon.com, Inc. (A) | | 708,728 | | | 89,845,449 |
| MercadoLibre, Inc. (A) | | 20,316 | | | 17,377,494 |
| | | | | | 107,222,943 |
| Multiline retail – 0.5% | | | |
| Target Corp. | | 44,967 | | | 7,210,009 |
| Specialty retail – 3.8% | | | |
| O'Reilly Automotive, Inc. (A) | | 19,250 | | | 13,419,560 |
| The Home Depot, Inc. | | 74,606 | | | 21,517,863 |
| The TJX Companies, Inc. | | 279,904 | | | 17,452,014 |
| | | | | | 52,389,437 |
| Textiles, apparel and luxury goods – 5.0% | | | |
| Lululemon Athletica, Inc. (A) | | 61,879 | | | 18,561,225 |
| LVMH Moet Hennessy Louis Vuitton SE | | 54,129 | | | 34,927,645 |
| NIKE, Inc., Class B | | 148,559 | | | 15,814,106 |
| | | | | | 69,302,976 |
| | | | | | 401,869,788 |
| Consumer staples – 4.6% | | | | | |
| Food and staples retailing – 2.4% | | | |
| Costco Wholesale Corp. | | 64,726 | | | 33,793,445 |
| Personal products – 2.2% | | | |
| The Estee Lauder Companies, Inc., Class A | | 120,652 | | | 30,691,456 |
| | | | | | 64,484,901 |
| Energy – 1.4% | | | | | |
| Energy equipment and services – 1.4% | | | |
| Schlumberger NV | | 505,438 | | | 19,282,460 |
| Financials – 3.6% | | | | | |
| Capital markets – 3.6% | | | |
| KKR & Company, Inc. | | 258,822 | | | 13,086,040 |
| S&P Global, Inc. | | 50,956 | | | 17,945,684 |
| The Goldman Sachs Group, Inc. | | 55,633 | | | 18,507,430 |
| | | | | | 49,539,154 |
| Health care – 11.7% | | | | | |
| Biotechnology – 1.1% | | | |
| Vertex Pharmaceuticals, Inc. (A) | | 56,598 | | | 15,947,052 |
| Health care equipment and supplies – 2.1% | | | |
| Abbott Laboratories | | 124,696 | | | 12,800,044 |
| DexCom, Inc. (A) | | 97,616 | | | 8,025,011 |
Capital Appreciation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| Health care equipment and supplies (continued) | | | |
| Intuitive Surgical, Inc. (A) | | 39,094 | | $ | 8,043,200 |
| | | | | | 28,868,255 |
| Health care providers and services – 2.2% | | | |
| UnitedHealth Group, Inc. | | 58,678 | | | 30,473,246 |
| Life sciences tools and services – 2.0% | | | |
| Danaher Corp. | | 100,427 | | | 27,106,252 |
| Pharmaceuticals – 4.3% | | | |
| Eli Lilly & Company | | 139,586 | | | 42,047,491 |
| Novo Nordisk A/S, ADR | | 165,938 | | | 17,606,022 |
| | | | | | 59,653,513 |
| | | | | | 162,048,318 |
| Industrials – 1.7% | | | | | |
| Road and rail – 1.7% | | | |
| Uber Technologies, Inc. (A) | | 834,004 | | | 23,985,955 |
| Information technology – 36.7% | | | | | |
| IT services – 9.1% | | | |
| Adyen NV (A)(B) | | 15,533 | | | 23,969,665 |
| Mastercard, Inc., Class A | | 118,064 | | | 38,296,420 |
| Snowflake, Inc., Class A (A) | | 97,645 | | | 17,668,863 |
| Visa, Inc., Class A | | 231,954 | | | 46,091,579 |
| | | | | | 126,026,527 |
| Semiconductors and semiconductor equipment – 5.8% | | | |
| ASML Holding NV, NYRS | | 28,734 | | | 14,077,936 |
| Broadcom, Inc. | | 50,877 | | | 25,393,219 |
| NVIDIA Corp. | | 268,765 | | | 40,567,389 |
| | | | | | 80,038,544 |
| Software – 14.7% | | | |
| Adobe, Inc. (A) | | 59,160 | | | 22,092,710 |
| Atlassian Corp. PLC, Class A (A) | | 87,635 | | | 21,703,684 |
| Crowdstrike Holdings, Inc., Class A (A) | | 131,071 | | | 23,934,875 |
| HubSpot, Inc. (A) | | 18,604 | | | 6,270,292 |
| Microsoft Corp. | | 304,598 | | | 79,643,239 |
| salesforce.com, Inc. (A) | | 226,533 | | | 35,366,332 |
| The Trade Desk, Inc., Class A (A) | | 234,767 | | | 14,719,891 |
| | | | | | 203,731,023 |
| Technology hardware, storage and peripherals – 7.1% | | | |
| Apple, Inc. | | 626,512 | | | 98,500,217 |
| | | | | | 508,296,311 |
| Real estate – 1.6% | | | | | |
| Equity real estate investment trusts – 1.6% | | | |
| American Tower Corp. | | 85,194 | | | 21,643,536 |
| TOTAL COMMON STOCKS (Cost $724,978,562) | | $ | 1,370,476,447 |
| SHORT-TERM INVESTMENTS – 1.2% | | | |
| Short-term funds – 1.2% | | | | | |
| State Street Institutional U.S. Government Money Market Fund, Premier Class, 2.2409% (C) | | 16,540,055 | | | 16,540,055 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $16,540,055) | | $ | 16,540,055 |
Total Investments (Capital Appreciation Fund)
(Cost $741,518,617) – 100.1% | | $ | 1,387,016,502 |
| Other assets and liabilities, net – (0.1%) | | | (1,014,052) |
| TOTAL NET ASSETS – 100.0% | | $ | 1,386,002,450 |
| Security Abbreviations and Legend |
| ADR | American Depositary Receipt |
| NYRS | New York Registry Shares |
| (A) | Non-income producing security. |
| The accompanying notes are an integral part of the financial statements. | 15 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
Capital Appreciation Fund (continued)
| (B) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. |
| (C) | The rate shown is the annualized seven-day yield as of 8-31-22. |
Capital Appreciation Value Fund
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS – 60.0% | | | |
| Communication services – 3.2% | | | | | |
| Interactive media and services – 3.2% | | | |
| Alphabet, Inc., Class A (A)(B) | | 143,160 | | $ | 15,492,775 |
| Alphabet, Inc., Class C (B) | | 166,020 | | | 18,121,083 |
| Meta Platforms, Inc., Class A (B) | | 40,548 | | | 6,606,486 |
| | | | | | 40,220,344 |
| Consumer discretionary – 5.8% | | | | | |
| Hotels, restaurants and leisure – 3.3% | | | |
| Starbucks Corp. (A) | | 101,997 | | | 8,574,888 |
| Yum! Brands, Inc. (A) | | 290,335 | | | 32,296,865 |
| | | | | | 40,871,753 |
| Internet and direct marketing retail – 2.5% | | | |
| Amazon.com, Inc. (A)(B) | | 247,234 | | | 31,341,854 |
| | | | | | 72,213,607 |
| Consumer staples – 0.7% | | | | | |
| Beverages – 0.7% | | | |
| Keurig Dr. Pepper, Inc. | | 226,650 | | | 8,639,898 |
| Energy – 0.6% | | | | | |
| Oil, gas and consumable fuels – 0.6% | | | |
| EOG Resources, Inc. | | 21,400 | | | 2,595,820 |
| Pioneer Natural Resources Company | | 16,896 | | | 4,278,405 |
| | | | | | 6,874,225 |
| Financials – 5.8% | | | | | |
| Banks – 2.6% | | | |
| The PNC Financial Services Group, Inc. | | 205,388 | | | 32,451,304 |
| Capital markets – 2.2% | | | |
| Intercontinental Exchange, Inc. | | 125,429 | | | 12,649,515 |
| MSCI, Inc. | | 18,002 | | | 8,087,218 |
| S&P Global, Inc. | | 20,331 | | | 7,160,172 |
| | | | | | 27,896,905 |
| Insurance – 1.0% | | | |
| Marsh & McLennan Companies, Inc. | | 76,971 | | | 12,420,810 |
| | | | | | 72,769,019 |
| Health care – 13.1% | | | | | |
| Health care equipment and supplies – 3.6% | | | |
| Alcon, Inc. | | 116,986 | | | 7,702,703 |
| Becton, Dickinson and Company (A) | | 98,720 | | | 24,918,902 |
| Embecta Corp. (A) | | 1,400 | | | 44,688 |
| Hologic, Inc. (B) | | 18,000 | | | 1,216,080 |
| Teleflex, Inc. | | 52,736 | | | 11,932,047 |
| | | | | | 45,814,420 |
| Health care providers and services – 2.1% | | | |
| Humana, Inc. | | 4,500 | | | 2,168,010 |
| UnitedHealth Group, Inc. | | 46,508 | | | 24,153,000 |
| | | | | | 26,321,010 |
| Life sciences tools and services – 6.9% | | | |
| Avantor, Inc. (B) | | 162,663 | | | 4,051,935 |
| Danaher Corp. | | 101,526 | | | 27,402,883 |
| PerkinElmer, Inc. | | 203,273 | | | 27,454,051 |
Capital Appreciation Value Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| Life sciences tools and services (continued) | | | |
| Thermo Fisher Scientific, Inc. | | 49,560 | | $ | 27,026,059 |
| | | | | | 85,934,928 |
| Pharmaceuticals – 0.5% | | | |
| Catalent, Inc. (B) | | 75,579 | | | 6,650,952 |
| | | | | | 164,721,310 |
| Industrials – 9.6% | | | | | |
| Commercial services and supplies – 1.7% | | | |
| Aurora Innovation, Inc. (B)(C) | | 933,270 | | | 1,997,198 |
| Waste Connections, Inc. | | 139,409 | | | 19,402,945 |
| | | | | | 21,400,143 |
| Industrial conglomerates – 2.0% | | | |
| General Electric Company (A) | | 350,750 | | | 25,759,080 |
| Machinery – 4.4% | | | |
| Fortive Corp. | | 495,391 | | | 31,373,112 |
| Ingersoll Rand, Inc. | | 501,200 | | | 23,741,844 |
| | | | | | 55,114,956 |
| Professional services – 1.5% | | | |
| TransUnion | | 249,284 | | | 18,414,609 |
| | | | | | 120,688,788 |
| Information technology – 19.9% | | | | | |
| Electronic equipment, instruments and components – 3.4% | | | |
| TE Connectivity, Ltd. | | 251,703 | | | 31,767,436 |
| Teledyne Technologies, Inc. (B) | | 28,358 | | | 10,445,953 |
| | | | | | 42,213,389 |
| IT services – 1.2% | | | |
| Mastercard, Inc., Class A | | 22,885 | | | 7,423,207 |
| Visa, Inc., Class A | | 37,110 | | | 7,374,128 |
| | | | | | 14,797,335 |
| Semiconductors and semiconductor equipment – 4.0% | | | |
| NVIDIA Corp. | | 38,528 | | | 5,815,416 |
| NXP Semiconductors NV | | 132,642 | | | 21,830,220 |
| Texas Instruments, Inc. | | 137,121 | | | 22,653,760 |
| | | | | | 50,299,396 |
| Software – 8.1% | | | |
| Black Knight, Inc. (B) | | 11,086 | | | 733,450 |
| Microsoft Corp. (A) | | 268,542 | | | 70,215,675 |
| Roper Technologies, Inc. | | 47,951 | | | 19,304,114 |
| salesforce.com, Inc. (B) | | 70,810 | | | 11,054,857 |
| | | | | | 101,308,096 |
| Technology hardware, storage and peripherals – 3.2% | | | |
| Apple, Inc. | | 255,417 | | | 40,156,661 |
| | | | | | 248,774,877 |
| Utilities – 1.3% | | | | | |
| Multi-utilities – 1.3% | | | |
| Ameren Corp. | | 146,823 | | | 13,598,746 |
| CMS Energy Corp. | | 23,335 | | | 1,576,046 |
| Public Service Enterprise Group, Inc. | | 20,700 | | | 1,332,252 |
| | | | | | 16,507,044 |
| TOTAL COMMON STOCKS (Cost $716,338,473) | | $ | 751,409,112 |
| PREFERRED SECURITIES – 0.5% | | | | | |
| Financials – 0.0% | | | | | |
| Capital markets – 0.0% | | | |
| The Charles Schwab Corp., 5.950% | | 8,000 | | | 199,920 |
| Utilities – 0.5% | | | | | |
| Electric utilities – 0.1% | | | |
| SCE Trust IV, 5.375% (5.375% to 9-15-25, then 3 month LIBOR + 3.132%) | | 50,253 | | | 1,007,573 |
| The accompanying notes are an integral part of the financial statements. | 16 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
Capital Appreciation Value Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| PREFERRED SECURITIES (continued) | | | | | |
| Multi-utilities – 0.4% | | | |
| CMS Energy Corp., 5.875% | | 92,155 | | $ | 2,254,111 |
| CMS Energy Corp., 5.875% | | 123,449 | | | 2,962,776 |
| NiSource, Inc., 6.500% (6.500% to 3-15-24, then 5 Year CMT + 3.632%) | | 20,879 | | | 528,239 |
| | | | | | 5,745,126 |
| | | | | | 6,752,699 |
| TOTAL PREFERRED SECURITIES (Cost $7,368,400) | | $ | 6,952,619 |
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS – 7.9% | | | | | |
| U.S. Government – 7.9% | | | | | |
| U.S. Treasury Notes | | | | | |
| 1.500%, 01/31/2027 | $ | 32,268,600 | | | 29,775,347 |
| 1.875%, 02/28/2027 | | 47,240,900 | | | 44,293,880 |
| 2.500%, 03/31/2027 | | 25,182,900 | | | 24,248,378 |
| | | | | | 98,317,605 |
| TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $102,769,791) | | $ | 98,317,605 |
| CORPORATE BONDS - 7.2% | | | | | |
| Communication services - 1.5% | | | | | |
Altice France Holding SA
10.500%, 05/15/2027 (D) | | 1,940,000 | | | 1,673,676 |
Arches Buyer, Inc.
4.250%, 06/01/2028 (D) | | 5,000 | | | 4,025 |
| CCO Holdings LLC | | | | | |
| 5.000%, 02/01/2028 (D) | | 6,912,000 | | | 6,316,324 |
| 5.125%, 05/01/2027 (D) | | 6,970,000 | | | 6,615,889 |
| 5.500%, 05/01/2026 (D) | | 325,000 | | | 321,750 |
| Lamar Media Corp. | | | | | |
| 3.625%, 01/15/2031 | | 120,000 | | | 100,544 |
| 3.750%, 02/15/2028 | | 695,000 | | | 623,325 |
Live Nation Entertainment, Inc.
4.875%, 11/01/2024 (D) | | 90,000 | | | 87,075 |
Photo Holdings Merger Sub, Inc.
8.500%, 10/01/2026 (D) | | 1,245,000 | | | 929,723 |
Sirius XM Radio, Inc.
5.000%, 08/01/2027 (D) | | 2,010,000 | | | 1,892,174 |
Twitter, Inc.
5.000%, 03/01/2030 (D) | | 420,000 | | | 395,785 |
| | | | | | 18,960,290 |
| Consumer discretionary - 2.3% | | | | | |
| Cedar Fair LP | | | | | |
| 5.250%, 07/15/2029 | | 2,080,000 | | | 1,893,466 |
| 5.375%, 04/15/2027 | | 2,105,000 | | | 1,986,068 |
| 5.500%, 05/01/2025 (D) | | 1,190,000 | | | 1,167,277 |
| 6.500%, 10/01/2028 | | 2,070,000 | | | 2,025,590 |
| Clarios Global LP | | | | | |
| 6.250%, 05/15/2026 (D) | | 689,000 | | | 681,345 |
| 6.750%, 05/15/2025 (D) | | 539,000 | | | 536,216 |
| 8.500%, 05/15/2027 (D) | | 1,465,000 | | | 1,439,509 |
| Hilton Domestic Operating Company, Inc. | | | | | |
| 3.625%, 02/15/2032 (D) | | 205,000 | | | 165,500 |
| 4.000%, 05/01/2031 (D) | | 105,000 | | | 88,741 |
| 5.375%, 05/01/2025 (D) | | 100,000 | | | 99,135 |
Hilton Worldwide Finance LLC
4.875%, 04/01/2027 | | 50,000 | | | 47,750 |
KFC Holding Company/Pizza Hut Holdings LLC/Taco Bell of America LLC
4.750%, 06/01/2027 (D) | | 3,513,000 | | | 3,371,338 |
Life Time, Inc.
5.750%, 01/15/2026 (D) | | 1,560,000 | | | 1,404,936 |
Capital Appreciation Value Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| CORPORATE BONDS (continued) | | | | | |
| Consumer discretionary (continued) | | | | | |
| Six Flags Entertainment Corp. | | | | | |
| 4.875%, 07/31/2024 (D) | $ | 5,138,000 | | $ | 4,929,693 |
| 5.500%, 04/15/2027 (D) | | 3,022,000 | | | 2,771,159 |
Six Flags Theme Parks, Inc.
7.000%, 07/01/2025 (D) | | 1,069,000 | | | 1,080,401 |
| Yum! Brands, Inc. | | | | | |
| 3.625%, 03/15/2031 | | 477,000 | | | 401,729 |
| 4.625%, 01/31/2032 | | 1,031,000 | | | 910,858 |
| 4.750%, 01/15/2030 (D) | | 420,000 | | | 382,725 |
| 5.350%, 11/01/2043 | | 1,834,000 | | | 1,586,410 |
| 5.375%, 04/01/2032 | | 1,120,000 | | | 1,030,954 |
| 6.875%, 11/15/2037 | | 925,000 | | | 971,931 |
| | | | | | 28,972,731 |
| Financials - 1.5% | | | | | |
Acrisure LLC
7.000%, 11/15/2025 (D) | | 2,600,000 | | | 2,450,006 |
| Alliant Holdings Intermediate LLC | | | | | |
| 4.250%, 10/15/2027 (D) | | 375,000 | | | 337,789 |
| 5.875%, 11/01/2029 (D) | | 609,000 | | | 523,837 |
| 6.750%, 10/15/2027 (D) | | 1,466,000 | | | 1,331,568 |
AmWINS Group, Inc.
4.875%, 06/30/2029 (D) | | 570,000 | | | 495,915 |
| HUB International, Ltd. | | | | | |
| 5.625%, 12/01/2029 (D) | | 445,000 | | | 389,220 |
| 7.000%, 05/01/2026 (D) | | 8,325,000 | | | 8,156,460 |
| MSCI, Inc. | | | | | |
| 3.250%, 08/15/2033 (D) | | 40,000 | | | 31,748 |
| 3.625%, 09/01/2030 to 11/01/2031 (D) | | 685,000 | | | 579,785 |
| 3.875%, 02/15/2031 (D) | | 10,000 | | | 8,569 |
| 4.000%, 11/15/2029 (D) | | 250,000 | | | 222,528 |
Ryan Specialty Group LLC
4.375%, 02/01/2030 (D) | | 80,000 | | | 72,100 |
State Street Corp.
5.426%, (3 month LIBOR + 3.597%), 12/15/2022 (E)(F) | | 517,000 | | | 511,914 |
USI, Inc.
6.875%, 05/01/2025 (D) | | 3,576,000 | | | 3,502,263 |
| | | | | | 18,613,702 |
| Health care - 0.6% | | | | | |
| Avantor Funding, Inc. | | | | | |
| 3.875%, 11/01/2029 (D) | | 210,000 | | | 181,688 |
| 4.625%, 07/15/2028 (D) | | 1,888,000 | | | 1,717,853 |
| Catalent Pharma Solutions, Inc. | | | | | |
| 3.125%, 02/15/2029 (D) | | 600,000 | | | 497,425 |
| 3.500%, 04/01/2030 (D) | | 320,000 | | | 263,554 |
| 5.000%, 07/15/2027 (D) | | 145,000 | | | 136,783 |
Hadrian Merger Sub, Inc.
8.500%, 05/01/2026 (D) | | 1,686,000 | | | 1,605,915 |
Hologic, Inc.
3.250%, 02/15/2029 (D) | | 220,000 | | | 187,540 |
IQVIA, Inc.
5.000%, 05/15/2027 (D) | | 950,000 | | | 918,071 |
Surgery Center Holdings, Inc.
10.000%, 04/15/2027 (D) | | 1,376,000 | | | 1,377,004 |
| Teleflex, Inc. | | | | | |
| 4.250%, 06/01/2028 (D) | | 145,000 | | | 131,739 |
| 4.625%, 11/15/2027 | | 952,000 | | | 891,129 |
| | | | | | 7,908,701 |
| Industrials - 1.0% | | | | | |
Booz Allen Hamilton, Inc.
3.875%, 09/01/2028 (D) | | 235,000 | | | 209,033 |
CoreLogic, Inc.
4.500%, 05/01/2028 (D) | | 325,000 | | | 255,938 |
| The accompanying notes are an integral part of the financial statements. | 17 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
Capital Appreciation Value Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| CORPORATE BONDS (continued) | | | | | |
| Industrials (continued) | | | | | |
Delta Air Lines, Inc.
4.750%, 10/20/2028 (D) | $ | 925,000 | | $ | 883,685 |
General Electric Company
5.159%, (3 month LIBOR + 3.330%), 12/15/2022 (E)(F) | | 3,841,000 | | | 3,632,626 |
Howmet Aerospace, Inc.
3.000%, 01/15/2029 | | 490,000 | | | 413,562 |
Korn Ferry
4.625%, 12/15/2027 (D) | | 480,000 | | | 444,581 |
Lennox International, Inc.
3.000%, 11/15/2023 | | 510,000 | | | 502,460 |
Mileage Plus Holdings LLC
6.500%, 06/20/2027 (D) | | 1,425,000 | | | 1,428,563 |
| Sensata Technologies BV | | | | | |
| 4.000%, 04/15/2029 (D) | | 600,000 | | | 518,010 |
| 5.000%, 10/01/2025 (D) | | 700,000 | | | 685,314 |
| 5.625%, 11/01/2024 (D) | | 415,000 | | | 416,758 |
Sensata Technologies, Inc.
3.750%, 02/15/2031 (D) | | 245,000 | | | 202,388 |
TK Elevator U.S. Newco, Inc.
5.250%, 07/15/2027 (D) | | 275,000 | | | 250,250 |
TransDigm UK Holdings PLC
6.875%, 05/15/2026 | | 350,000 | | | 337,952 |
| TransDigm, Inc. | | | | | |
| 5.500%, 11/15/2027 | | 325,000 | | | 292,468 |
| 6.250%, 03/15/2026 (D) | | 325,000 | | | 319,313 |
| 6.375%, 06/15/2026 | | 145,000 | | | 139,200 |
United Airlines 2012-1 Class A Pass Through Trust
4.150%, 04/11/2024 | | 740,852 | | | 717,252 |
US Airways 2010-1 Class A Pass Through Trust
6.250%, 04/22/2023 | | 28,985 | | | 28,857 |
US Airways 2012-2 Class A Pass Through Trust
4.625%, 06/03/2025 | | 130,756 | | | 117,705 |
US Airways 2013-1 Class A Pass Through Trust
3.950%, 11/15/2025 | | 309,566 | | | 272,887 |
| | | | | | 12,068,802 |
| Information technology - 0.1% | | | | | |
Black Knight InfoServ LLC
3.625%, 09/01/2028 (D) | | 206,000 | | | 180,250 |
| Clarivate Science Holdings Corp. | | | | | |
| 3.875%, 07/01/2028 (D) | | 299,000 | | | 255,945 |
| 4.875%, 07/01/2029 (D) | | 220,000 | | | 181,852 |
| Gartner, Inc. | | | | | |
| 3.625%, 06/15/2029 (D) | | 245,000 | | | 210,700 |
| 3.750%, 10/01/2030 (D) | | 300,000 | | | 257,250 |
| 4.500%, 07/01/2028 (D) | | 165,000 | | | 152,287 |
Twilio, Inc.
3.625%, 03/15/2029 | | 35,000 | | | 29,216 |
| | | | | | 1,267,500 |
| Real estate - 0.1% | | | | | |
| SBA Communications Corp. | | | | | |
| 3.125%, 02/01/2029 | | 255,000 | | | 210,101 |
| 3.875%, 02/15/2027 | | 960,000 | | | 873,866 |
| | | | | | 1,083,967 |
| Utilities - 0.1% | | | | | |
NiSource, Inc.
5.650%, (5.650% to 6-15-23, then 5 Year CMT + 2.843%), 06/15/2023 (E) | | 1,525,000 | | | 1,418,250 |
| TOTAL CORPORATE BONDS (Cost $94,853,066) | | $ | 90,293,943 |
Capital Appreciation Value Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| CONVERTIBLE BONDS - 0.2% | | | | | |
| Communication services - 0.1% | | | | | |
Snap, Inc.
7.108%, 05/01/2027 (G) | $ | 1,005,000 | | $ | 726,113 |
Spotify USA, Inc.
5.866%, 03/15/2026 (G) | | 1,127,000 | | | 918,505 |
| | | | | | 1,644,618 |
| Information technology - 0.1% | | | | | |
Shopify, Inc.
0.125%, 11/01/2025 | | 669,000 | | | 569,319 |
| TOTAL CONVERTIBLE BONDS (Cost $2,515,928) | | $ | 2,213,937 |
| TERM LOANS (H) – 14.3% | | | | | |
| Communication services – 0.6% | | | | | |
| Arches Buyer, Inc., 2021 Term Loan B (1 month LIBOR + 3.250%) 5.774%, 12/06/2027 | | 711,685 | | | 670,913 |
| Delta 2 Lux Sarl, 2018 USD Term Loan (1 month LIBOR + 2.500%) 5.024%, 02/01/2024 | | 6,014,208 | | | 5,956,592 |
| Eagle Broadband Investments LLC, Term Loan (3 month LIBOR + 3.000%) 5.313%, 11/12/2027 | | 375,464 | | | 366,389 |
| | | | | | 6,993,894 |
| Consumer discretionary – 0.6% | | | | | |
| Cedar Fair LP, 2017 Term Loan B (1 month LIBOR + 1.750%) 4.274%, 04/13/2024 | | 48,027 | | | 47,547 |
| IRB Holding Corp., 2020 Term Loan B (1 month LIBOR + 2.750%) 5.274%, 02/05/2025 | | 2,162,597 | | | 2,114,847 |
| IRB Holding Corp., 2022 Term Loan B (1 month SOFR + 3.150%) 5.437%, 12/15/2027 | | 2,249,348 | | | 2,172,960 |
| Life Time, Inc., 2021 Term Loan B (3 month LIBOR + 4.750%) 7.820%, 12/16/2024 | | 655,052 | | | 645,364 |
| SeaWorld Parks & Entertainment, Inc., 2021 Term Loan B (1 month LIBOR + 3.000%) 5.563%, 08/25/2028 | | 1,412,716 | | | 1,387,287 |
| Woof Holdings, Inc., 1st Lien Term Loan (3 month LIBOR + 3.750%) 5.813%, 12/21/2027 | | 607,313 | | | 589,093 |
| | | | | | 6,957,098 |
| Consumer staples – 0.3% | | | | | |
| Sunshine Luxembourg VII Sarl, 2021 Term Loan B3 (3 month LIBOR + 3.750%) 6.000%, 10/01/2026 | | 3,824,657 | | | 3,678,861 |
| Financials – 5.1% | | | | | |
| Acrisure LLC, 2021 Incremental Term Loan B (1 month LIBOR + 3.750%) 6.274%, 02/15/2027 | | 704,675 | | | 676,488 |
| Alliant Holdings Intermediate LLC, 2018 Term Loan B (1 month LIBOR + 3.250%) 5.774%, 05/09/2025 | | 4,224,268 | | | 4,135,812 |
| Alliant Holdings Intermediate LLC, 2021 Term Loan B4 (1 month LIBOR + 3.500%) 5.877%, 11/06/2027 | | 5,298,479 | | | 5,150,121 |
| Alliant Holdings Intermediate LLC, Term Loan B (1 month LIBOR + 3.250%) 5.774%, 05/09/2025 | | 1,874,428 | | | 1,833,040 |
| Howden Group Holdings, Ltd., 2021 Term Loan B (1 month LIBOR + 3.250%) 5.813%, 11/12/2027 | | 4,905,597 | | | 4,773,342 |
| The accompanying notes are an integral part of the financial statements. | 18 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
Capital Appreciation Value Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| TERM LOANS (H)(continued) | | | | | |
| Financials (continued) | | | | | |
| HUB International, Ltd., 2018 Term Loan B (3 month LIBOR + 3.000%) 5.766%, 04/25/2025 | $ | 21,052,717 | | | 20,587,873 |
| HUB International, Ltd., 2021 Term Loan B (3 month LIBOR + 3.250%) 5.981%, 04/25/2025 | | 13,534,647 | | | 13,313,355 |
| Ryan Specialty Group LLC, Term Loan (1 month SOFR + 3.000%) 5.555%, 09/01/2027 | | 1,013,012 | | | 997,817 |
| USI, Inc., 2017 Repriced Term Loan (3 month LIBOR + 3.000%) 5.250%, 05/16/2024 | | 8,245,354 | | | 8,140,556 |
| USI, Inc., 2019 Incremental Term Loan B (3 month LIBOR + 3.250%) 5.500%, 12/02/2026 | | 5,076,289 | | | 4,996,997 |
| | | | | | 64,605,401 |
| Health care – 2.6% | | | | | |
| ADMI Corp., 2021 Incremental Term Loan B3 (1 month LIBOR + 3.750%) 6.274%, 12/23/2027 | | 3,042,013 | | | 2,838,593 |
| ADMI Corp., 2021 Term Loan B2 (1 month LIBOR + 3.375%) 5.899%, 12/23/2027 | | 1,866,375 | | | 1,716,729 |
| athenahealth, Inc., 2022 Term Loan B (1 month SOFR + 3.500%) 5.800%, 02/15/2029 | | 4,232,609 | | | 4,042,141 |
| Eyecare Partners LLC, 2020 Term Loan (3 month LIBOR + 3.750%) 6.000%, 02/18/2027 | | 253,073 | | | 234,905 |
| Eyecare Partners LLC, 2021 Incremental Term Loan (3 month LIBOR + 3.750%) 6.000%, 11/15/2028 | | 219,450 | | | 204,089 |
| Heartland Dental LLC, 2018 1st Lien Term Loan (1 month LIBOR + 3.500%) 6.024%, 04/30/2025 | | 5,792,665 | | | 5,529,563 |
| Heartland Dental LLC, 2021 Incremental Term Loan (1 month LIBOR + 4.000%) 6.444%, 04/30/2025 | | 574,771 | | | 549,745 |
| Loire Finco Luxembourg Sarl, Term Loan (1 month LIBOR + 3.250%) 5.774%, 04/21/2027 | | 3,029,859 | | | 2,901,090 |
| Medline Borrower LP, USD Term Loan B (1 month LIBOR + 3.250%) 5.774%, 10/23/2028 | | 10,847,813 | | | 10,330,589 |
| Pacific Dental Services, Inc., 2021 Term Loan (1 month LIBOR + 3.500%) 5.877%, 05/05/2028 | | 495,000 | | | 487,575 |
| Pathway Vet Alliance LLC, 2021 Term Loan (3 month LIBOR + 3.750%) 6.000%, 03/31/2027 | | 183,900 | | | 173,142 |
| PetVet Care Centers LLC, 2018 1st Lien Term Loan (1 month LIBOR + 2.750%) 5.274%, 02/14/2025 | | 353,087 | | | 338,523 |
| PetVet Care Centers LLC, 2018 2nd Lien Term Loan (1 month LIBOR + 6.250%) 8.774%, 02/13/2026 | | 25,000 | | | 24,188 |
| PetVet Care Centers LLC, 2018 Incremental Term Loan (1 month LIBOR + 3.250%) 5.774%, 02/14/2025 | | 1,092,436 | | | 1,050,563 |
| PetVet Care Centers LLC, 2021 Term Loan B3 (1 month LIBOR + 3.500%) 6.024%, 02/14/2025 | | 2,062,367 | | | 1,993,628 |
| | | | | | 32,415,063 |
Capital Appreciation Value Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| TERM LOANS (H)(continued) | | | | | |
| Industrials – 1.6% | | | | | |
| Camelot US Acquisition LLC, 2020 Incremental Term Loan B (1 month LIBOR + 3.000%) 5.524%, 10/30/2026 | $ | 2,813,605 | | | 2,736,231 |
| CoreLogic, Inc., Term Loan (1 month LIBOR + 3.500%) 6.063%, 06/02/2028 | | 2,510,011 | | | 2,149,197 |
| Filtration Group Corp., 2018 1st Lien Term Loan (1 month LIBOR + 3.000%) 5.524%, 03/29/2025 | | 1,453,341 | | | 1,426,773 |
| Filtration Group Corp., 2018 EUR Term Loan (3 month EURIBOR + 3.500%) 3.500%, 03/29/2025 | EUR | 1,735,369 | | | 1,679,660 |
| Filtration Group Corp., 2021 Incremental Term Loan (1 month LIBOR + 3.500%) 6.024%, 10/21/2028 | $ | 516,100 | | | 501,649 |
| Mileage Plus Holdings LLC, 2020 Term Loan B (3 month LIBOR + 5.250%) 7.313%, 06/21/2027 | | 6,225,000 | | | 6,313,520 |
| SkyMiles IP, Ltd., 2020 Skymiles Term Loan B (3 month LIBOR + 3.750%) 6.460%, 10/20/2027 | | 1,757,339 | | | 1,778,357 |
| TK Elevator US Newco, Inc., Term Loan B (6 month LIBOR + 3.500%) 6.871%, 07/30/2027 | | 4,097,428 | | | 3,971,965 |
| | | | | | 20,557,352 |
| Information technology – 3.5% | | | | | |
| Applied Systems, Inc., 2017 1st Lien Term Loan (3 month LIBOR + 3.000%) 5.250%, 09/19/2024 | | 4,358,226 | | | 4,316,823 |
| Applied Systems, Inc., 2021 2nd Lien Term Loan (3 month LIBOR + 5.500%) 7.750%, 09/19/2025 | | 366,814 | | | 362,533 |
| Ascend Learning LLC, 2021 2nd Lien Term Loan (1 month LIBOR + 5.750%) 8.274%, 12/10/2029 | | 720,000 | | | 645,120 |
| Ascend Learning LLC, 2021 Term Loan (1 month LIBOR + 3.500%) 6.024%, 12/11/2028 | | 5,732,946 | | | 5,456,560 |
| Azalea TopCo, Inc., 2021 Term Loan B (1 month LIBOR + 3.750%) 6.274%, 07/24/2026 | | 929,644 | | | 886,648 |
| Azalea TopCo, Inc., 2022 Incremental Term Loan (1 month SOFR + 3.750%) 6.205%, 07/24/2026 | | 532,605 | | | 512,632 |
| Azalea TopCo, Inc., Term Loan (1 month LIBOR + 3.500%) 6.024%, 07/24/2026 | | 3,389,839 | | | 3,242,381 |
| Celestial Saturn Parent, Inc., 2nd Lien Term Loan (1 month LIBOR + 6.500%) 9.063%, 06/04/2029 | | 230,000 | | | 181,891 |
| Entegris, Inc., 2022 Term Loan B (3 month SOFR + 3.000%) 5.597%, 07/06/2029 | | 1,501,812 | | | 1,496,991 |
| Polaris Newco LLC, USD Term Loan B (1 month LIBOR + 4.000%) 6.524%, 06/02/2028 | | 471,438 | | | 451,816 |
| Project Boost Purchaser LLC, 2021 Incremental Term Loan (1 month LIBOR + 3.500%) 6.024%, 05/30/2026 | | 495,186 | | | 479,405 |
| RealPage, Inc., 1st Lien Term Loan (1 month LIBOR + 3.000%) 5.524%, 04/24/2028 | | 5,333,216 | | | 5,123,567 |
| RealPage, Inc., 2nd Lien Term Loan (1 month LIBOR + 6.500%) 9.024%, 04/23/2029 | | 225,000 | | | 218,531 |
| Sophia LP, 2021 Term Loan B (3 month LIBOR + 3.500%) 5.750%, 10/07/2027 | | 843,625 | | | 813,575 |
| The accompanying notes are an integral part of the financial statements. | 19 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
Capital Appreciation Value Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| TERM LOANS (H)(continued) | | | | | |
| Information technology (continued) | | | | | |
| Sophia LP, 2022 Incremental Term Loan B (1 month SOFR + 4.250%) 6.709%, 10/07/2027 | $ | 355,667 | | | 346,775 |
| Storable, Inc., Term Loan B (1 and 2 month SOFR + 3.500%) 5.995%, 04/17/2028 | | 273,625 | | | 264,048 |
| UKG, Inc., 2021 2nd Lien Term Loan (3 month LIBOR + 5.250%) 7.535%, 05/03/2027 | | 765,000 | | | 743,366 |
| UKG, Inc., 2021 Term Loan (3 month LIBOR + 3.250%) 5.535%, 05/04/2026 | | 18,478,128 | | | 17,874,263 |
| UKG, Inc., Term Loan B (1 month LIBOR + 3.750%) 6.274%, 05/04/2026 | | 675,888 | | | 657,388 |
| | | | | | 44,074,313 |
| TOTAL TERM LOANS (Cost $184,163,350) | | $ | 179,281,982 |
| SHORT-TERM INVESTMENTS – 10.2% | | | |
| Short-term funds – 10.2% | | | | | |
| John Hancock Collateral Trust, 2.3160% (I)(J) | | 207,872 | | $ | 2,077,345 |
| State Street Institutional U.S. Government Money Market Fund, Premier Class, 2.2409% (I) | | 7,856,630 | | | 7,856,630 |
| T. Rowe Price Government Reserve Fund, 2.3595% (I) | | 118,042,076 | | | 118,042,076 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $127,976,381) | | $ | 127,976,051 |
Total Investments (Capital Appreciation Value Fund)
(Cost $1,235,985,389) – 100.3% | | $ | 1,256,445,249 |
| Other assets and liabilities, net – (0.3%) | | | (3,209,460) |
| TOTAL NET ASSETS – 100.0% | | $ | 1,253,235,789 |
Capital Appreciation Value Fund (continued)
| Currency Abbreviations |
| EUR | Euro |
| Security Abbreviations and Legend |
| CMT | Constant Maturity Treasury |
| EURIBOR | Euro Interbank Offered Rate |
| LIBOR | London Interbank Offered Rate |
| SOFR | Secured Overnight Financing Rate |
| (A) | All or a portion of this security is segregated at the custodian as collateral for certain derivatives. |
| (B) | Non-income producing security. |
| (C) | All or a portion of this security is on loan as of 8-31-22. |
| (D) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. |
| (E) | Perpetual bonds have no stated maturity date. Date shown as maturity date is next call date. |
| (F) | Variable rate obligation. The coupon rate shown represents the rate at period end. |
| (G) | Zero coupon bonds are issued at a discount from their principal amount in lieu of paying interest periodically. Rate shown is the effective yield at period end. |
| (H) | Term loans are variable rate obligations. The coupon rate shown represents the rate at period end. |
| (I) | The rate shown is the annualized seven-day yield as of 8-31-22. |
| (J) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |
DERIVATIVES
WRITTEN OPTIONS
| Options on securities |
Counterparty (OTC)/
Exchange-
traded | Name of issuer | Currency | Exercise
price | Expiration
date | Number of
contracts | Notional
amount | Premium | Value |
| Calls | | | | | | | |
| GSI | Alphabet, Inc., Class A | USD | 160.00 | Jan 2023 | 60 | 60 | $54,291 | $(17) |
| GSI | Alphabet, Inc., Class A | USD | 165.00 | Jan 2023 | 40 | 40 | 30,994 | (8) |
| GSI | Alphabet, Inc., Class A | USD | 170.00 | Jan 2023 | 40 | 40 | 26,094 | (6) |
| GSI | Alphabet, Inc., Class A | USD | 175.00 | Jan 2023 | 40 | 40 | 22,194 | (5) |
| GSI | Amazon.com, Inc. | USD | 175.00 | Jan 2023 | 220 | 220 | 208,612 | (271) |
| GSI | Amazon.com, Inc. | USD | 180.00 | Jan 2023 | 40 | 40 | 46,828 | (38) |
| GSI | Amazon.com, Inc. | USD | 185.00 | Jan 2023 | 60 | 60 | 60,779 | (45) |
| GSI | Amazon.com, Inc. | USD | 190.00 | Jan 2023 | 60 | 60 | 52,161 | (36) |
| GSI | Amazon.com, Inc. | USD | 190.00 | Jan 2023 | 80 | 80 | 85,020 | (48) |
| GSI | Amazon.com, Inc. | USD | 195.00 | Jan 2023 | 80 | 80 | 72,036 | (38) |
| GSI | Amazon.com, Inc. | USD | 200.00 | Jan 2023 | 20 | 20 | 34,022 | (7) |
| GSI | Amazon.com, Inc. | USD | 200.00 | Jan 2023 | 80 | 80 | 62,252 | (30) |
| GSI | Amazon.com, Inc. | USD | 205.00 | Jan 2023 | 20 | 20 | 30,544 | (6) |
| GSI | Amazon.com, Inc. | USD | 205.00 | Jan 2023 | 80 | 80 | 52,764 | (24) |
| GSI | Amazon.com, Inc. | USD | 210.00 | Jan 2023 | 20 | 20 | 27,523 | (5) |
| GSI | Amazon.com, Inc. | USD | 210.00 | Jan 2023 | 80 | 80 | 44,580 | (19) |
| GSI | Amazon.com, Inc. | USD | 215.00 | Jan 2023 | 40 | 40 | 49,603 | (7) |
| GSI | Amazon.com, Inc. | USD | 220.00 | Jan 2023 | 40 | 40 | 44,460 | (6) |
| GSI | Amazon.com, Inc. | USD | 225.00 | Jan 2023 | 40 | 40 | 39,918 | (4) |
| GSI | Amazon.com, Inc. | USD | 225.00 | Jan 2023 | 40 | 40 | 57,156 | (4) |
| GSI | Amazon.com, Inc. | USD | 230.00 | Jan 2023 | 40 | 40 | 52,293 | (3) |
| CITI | Amazon.com, Inc. | USD | 240.00 | Jan 2023 | 40 | 40 | 43,788 | (2) |
| GSI | Amazon.com, Inc. | USD | 245.00 | Jan 2023 | 20 | 20 | 20,032 | (1) |
| The accompanying notes are an integral part of the financial statements. | 20 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
Capital Appreciation Value Fund (continued)
| Options on securities (continued) |
Counterparty (OTC)/
Exchange-
traded | Name of issuer | Currency | Exercise
price | Expiration
date | Number of
contracts | Notional
amount | Premium | Value |
| Calls (continued) | | | | | | | |
| GSI | Amazon.com, Inc. | USD | 250.00 | Jan 2023 | 20 | 20 | $18,330 | $(1) |
| GSI | Amazon.com, Inc. | USD | 255.00 | Jan 2023 | 20 | 20 | 16,783 | — |
| JPM | Apple, Inc. | USD | 170.00 | Jan 2023 | 30 | 3,000 | 24,065 | (21,499) |
| JPM | Apple, Inc. | USD | 170.00 | Jan 2023 | 101 | 10,100 | 66,227 | (72,378) |
| JPM | Apple, Inc. | USD | 175.00 | Jan 2023 | 30 | 3,000 | 19,641 | (16,218) |
| JPM | Apple, Inc. | USD | 175.00 | Jan 2023 | 101 | 10,100 | 54,499 | (54,602) |
| JPM | Apple, Inc. | USD | 180.00 | Jan 2023 | 30 | 3,000 | 15,832 | (11,979) |
| JPM | Apple, Inc. | USD | 180.00 | Jan 2023 | 101 | 10,100 | 44,818 | (40,330) |
| GSI | Becton, Dickinson and Company | USD | 260.00 | Jan 2023 | 20 | 2,000 | 49,176 | (23,745) |
| GSI | Becton, Dickinson and Company | USD | 280.00 | Jan 2023 | 25 | 2,500 | 40,039 | (12,543) |
| GSI | Becton, Dickinson and Company | USD | 290.00 | Jan 2023 | 25 | 2,500 | 32,937 | (7,874) |
| WFB | General Electric Company | USD | 85.00 | Jan 2023 | 198 | 19,800 | 115,973 | (53,543) |
| WFB | General Electric Company | USD | 90.00 | Jan 2023 | 198 | 19,800 | 84,524 | (32,675) |
| WFB | General Electric Company | USD | 95.00 | Jan 2023 | 198 | 19,800 | 59,184 | (19,689) |
| WFB | General Electric Company | USD | 110.00 | Jan 2023 | 8 | 800 | 6,974 | (182) |
| WFB | General Electric Company | USD | 110.00 | Jan 2023 | 128 | 12,800 | 105,097 | (2,908) |
| WFB | General Electric Company | USD | 110.00 | Jan 2023 | 108 | 10,800 | 89,911 | (2,454) |
| CITI | General Electric Company | USD | 235.00 | Jan 2023 | 40 | 40 | 47,862 | — |
| CITI | Hologic, Inc. | USD | 85.00 | Jan 2023 | 90 | 9,000 | 33,994 | (4,775) |
| CITI | Hologic, Inc. | USD | 90.00 | Jan 2023 | 90 | 9,000 | 21,255 | (2,677) |
| CITI | Humana, Inc. | USD | 520.00 | Jan 2023 | 15 | 1,500 | 22,476 | (24,896) |
| CITI | Humana, Inc. | USD | 530.00 | Jan 2023 | 15 | 1,500 | 19,009 | (19,819) |
| CITI | Humana, Inc. | USD | 540.00 | Jan 2023 | 15 | 1,500 | 15,092 | (15,543) |
| CITI | Keurig Dr. Pepper, Inc. | USD | 40.00 | Jan 2023 | 187 | 18,700 | 26,730 | (22,661) |
| CITI | Keurig Dr. Pepper, Inc. | USD | 42.00 | Jan 2023 | 187 | 18,700 | 16,518 | (10,685) |
| JPM | Meta Platforms, Inc., Class A | USD | 345.00 | Sep 2022 | 21 | 2,100 | 81,770 | — |
| JPM | Meta Platforms, Inc., Class A | USD | 360.00 | Sep 2022 | 21 | 2,100 | 70,363 | — |
| CSFB | Microsoft Corp. | USD | 320.00 | Jan 2023 | 114 | 11,400 | 152,190 | (32,121) |
| SFG | Microsoft Corp. | USD | 320.00 | Jan 2023 | 32 | 3,200 | 56,883 | (9,017) |
| SFG | Microsoft Corp. | USD | 320.00 | Jan 2023 | 32 | 3,200 | 61,099 | (9,017) |
| CITI | Microsoft Corp. | USD | 325.00 | Jan 2023 | 117 | 11,700 | 80,585 | (26,731) |
| CITI | Microsoft Corp. | USD | 330.00 | Jan 2023 | 21 | 2,100 | 30,850 | (3,906) |
| CITI | Microsoft Corp. | USD | 330.00 | Jan 2023 | 21 | 2,100 | 31,030 | (3,906) |
| CITI | Microsoft Corp. | USD | 330.00 | Jan 2023 | 17 | 1,700 | 30,220 | (3,162) |
| CSFB | Microsoft Corp. | USD | 330.00 | Jan 2023 | 35 | 3,500 | 41,273 | (6,510) |
| SFG | Microsoft Corp. | USD | 330.00 | Jan 2023 | 32 | 3,200 | 48,405 | (5,952) |
| SFG | Microsoft Corp. | USD | 330.00 | Jan 2023 | 32 | 3,200 | 51,807 | (5,952) |
| CSFB | Microsoft Corp. | USD | 335.00 | Jan 2023 | 35 | 3,500 | 36,239 | (5,328) |
| CITI | Microsoft Corp. | USD | 340.00 | Jan 2023 | 21 | 2,100 | 26,073 | (2,631) |
| CITI | Microsoft Corp. | USD | 340.00 | Jan 2023 | 21 | 2,100 | 26,180 | (2,631) |
| CITI | Microsoft Corp. | USD | 340.00 | Jan 2023 | 17 | 1,700 | 25,631 | (2,130) |
| CITI | Microsoft Corp. | USD | 340.00 | Jan 2023 | 43 | 4,300 | 87,102 | (5,387) |
| CITI | Microsoft Corp. | USD | 340.00 | Jan 2023 | 19 | 1,900 | 38,578 | (2,380) |
| CSFB | Microsoft Corp. | USD | 340.00 | Jan 2023 | 35 | 3,500 | 32,883 | (4,385) |
| SFG | Microsoft Corp. | USD | 340.00 | Jan 2023 | 32 | 3,200 | 41,247 | (4,009) |
| SFG | Microsoft Corp. | USD | 340.00 | Jan 2023 | 32 | 3,200 | 43,795 | (4,009) |
| CSFB | Microsoft Corp. | USD | 345.00 | Jan 2023 | 35 | 3,500 | 28,477 | (3,627) |
| CITI | Microsoft Corp. | USD | 350.00 | Jan 2023 | 21 | 2,100 | 21,927 | (1,807) |
| CITI | Microsoft Corp. | USD | 350.00 | Jan 2023 | 21 | 2,100 | 22,163 | (1,807) |
| CITI | Microsoft Corp. | USD | 350.00 | Jan 2023 | 17 | 1,700 | 21,637 | (1,463) |
| CITI | Microsoft Corp. | USD | 350.00 | Jan 2023 | 43 | 4,300 | 74,101 | (3,700) |
| CITI | Microsoft Corp. | USD | 350.00 | Jan 2023 | 19 | 1,900 | 33,056 | (1,635) |
| CSFB | Microsoft Corp. | USD | 350.00 | Jan 2023 | 35 | 3,500 | 25,120 | (3,012) |
| JPM | Microsoft Corp. | USD | 350.00 | Jan 2023 | 62 | 6,200 | 94,674 | (5,335) |
| SFG | Microsoft Corp. | USD | 350.00 | Jan 2023 | 32 | 3,200 | 34,689 | (2,754) |
| SFG | Microsoft Corp. | USD | 350.00 | Jan 2023 | 32 | 3,200 | 37,065 | (2,754) |
| JPM | Microsoft Corp. | USD | 355.00 | Jan 2023 | 62 | 6,200 | 85,994 | (4,441) |
| CITI | Microsoft Corp. | USD | 360.00 | Jan 2023 | 43 | 4,300 | 62,793 | (2,566) |
| CITI | Microsoft Corp. | USD | 360.00 | Jan 2023 | 19 | 1,900 | 28,142 | (1,134) |
| JPM | Microsoft Corp. | USD | 360.00 | Jan 2023 | 62 | 6,200 | 77,934 | (3,699) |
| CITI | Microsoft Corp. | USD | 365.00 | Jan 2023 | 42 | 4,200 | 55,884 | (2,087) |
| GSI | Starbucks Corp. | USD | 97.50 | Jan 2023 | 69 | 6,900 | 70,652 | (14,345) |
| GSI | Starbucks Corp. | USD | 97.50 | Jan 2023 | 70 | 7,000 | 65,590 | (14,553) |
| GSI | Starbucks Corp. | USD | 100.00 | Jan 2023 | 69 | 6,900 | 62,917 | (11,028) |
| The accompanying notes are an integral part of the financial statements. | 21 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
Capital Appreciation Value Fund (continued)
| Options on securities (continued) |
Counterparty (OTC)/
Exchange-
traded | Name of issuer | Currency | Exercise
price | Expiration
date | Number of
contracts | Notional
amount | Premium | Value |
| Calls (continued) | | | | | | | |
| GSI | Starbucks Corp. | USD | 100.00 | Jan 2023 | 70 | 7,000 | $59,290 | $(11,188) |
| GSI | Starbucks Corp. | USD | 105.00 | Jan 2023 | 69 | 6,900 | 48,747 | (6,551) |
| GSI | Starbucks Corp. | USD | 105.00 | Jan 2023 | 70 | 7,000 | 46,690 | (6,646) |
| JPM | The PNC Financial Services Group, Inc. | USD | 190.00 | Jan 2023 | 49 | 4,900 | 44,933 | (8,169) |
| JPM | The PNC Financial Services Group, Inc. | USD | 195.00 | Jan 2023 | 49 | 4,900 | 37,338 | (5,742) |
| JPM | The PNC Financial Services Group, Inc. | USD | 200.00 | Jan 2023 | 49 | 4,900 | 30,723 | (4,012) |
| CITI | The PNC Financial Services Group, Inc. | USD | 220.00 | Jan 2023 | 34 | 3,400 | 45,293 | (609) |
| CITI | The PNC Financial Services Group, Inc. | USD | 220.00 | Jan 2023 | 24 | 2,400 | 31,200 | (430) |
| CITI | The PNC Financial Services Group, Inc. | USD | 220.00 | Jan 2023 | 7 | 700 | 9,034 | (125) |
| CITI | The PNC Financial Services Group, Inc. | USD | 220.00 | Jan 2023 | 21 | 2,100 | 27,234 | (376) |
| CITI | The PNC Financial Services Group, Inc. | USD | 230.00 | Jan 2023 | 34 | 3,400 | 35,857 | (271) |
| CITI | The PNC Financial Services Group, Inc. | USD | 230.00 | Jan 2023 | 24 | 2,400 | 24,679 | (191) |
| CITI | The PNC Financial Services Group, Inc. | USD | 230.00 | Jan 2023 | 7 | 700 | 7,140 | (56) |
| CITI | The PNC Financial Services Group, Inc. | USD | 230.00 | Jan 2023 | 21 | 2,100 | 21,437 | (167) |
| CITI | Thermo Fisher Scientific, Inc. | USD | 640.00 | Jan 2023 | 24 | 2,400 | 64,356 | (26,614) |
| CITI | UnitedHealth Group, Inc. | USD | 540.00 | Jan 2023 | 45 | 4,500 | 121,721 | (119,924) |
| CITI | UnitedHealth Group, Inc. | USD | 560.00 | Jan 2023 | 26 | 2,600 | 68,414 | (48,826) |
| CITI | UnitedHealth Group, Inc. | USD | 580.00 | Jan 2023 | 26 | 2,600 | 51,593 | (33,107) |
| WFB | Yum! Brands, Inc. | USD | 145.00 | Jan 2023 | 16 | 1,600 | 5,232 | (437) |
| WFB | Yum! Brands, Inc. | USD | 145.00 | Jan 2023 | 37 | 3,700 | 10,763 | (1,010) |
| WFB | Yum! Brands, Inc. | USD | 150.00 | Jan 2023 | 16 | 1,600 | 3,056 | (297) |
| WFB | Yum! Brands, Inc. | USD | 150.00 | Jan 2023 | 37 | 3,700 | 7,811 | (688) |
| | | | | | | | $5,064,449 | $(970,653) |
| Derivatives Currency Abbreviations |
| USD | U.S. Dollar |
| Derivatives Abbreviations |
| CITI | Citibank, N.A. |
| CSFB | Credit Suisse First Boston International |
| GSI | Goldman Sachs International |
| JPM | JPMorgan Chase Bank, N.A. |
| OTC | Over-the-counter |
| SFG | Susquehanna Financial Group, LLLP |
| WFB | Wells Fargo Bank, N.A. |
See Notes to financial statements regarding investment transactions and other derivatives information.
Core Bond Fund
| | | Shares or
Principal
Amount | | Value |
U.S. GOVERNMENT AND AGENCY OBLIGATIONS –
55.8% | | | |
| U.S. Government – 29.6% | | | | | |
| U.S. Treasury Bonds | | | | | |
| 1.125%, 05/15/2040 to 08/15/2040 | $ | 52,953,000 | | $ | 35,957,994 |
| 1.375%, 11/15/2040 to 08/15/2050 | | 50,714,000 | | | 34,744,252 |
| 1.625%, 11/15/2050 | | 5,647,000 | | | 3,863,563 |
| 1.750%, 08/15/2041 | | 66,319,000 | | | 49,272,938 |
| 1.875%, 02/15/2041 to 11/15/2051 | | 6,328,000 | | | 4,800,904 |
| 2.000%, 08/15/2051 | | 9,363,000 | | | 7,033,954 |
| 2.250%, 02/15/2052 | | 14,907,000 | | | 11,906,966 |
| 2.375%, 02/15/2042 | | 2,976,000 | | | 2,466,825 |
| 2.875%, 05/15/2052 | | 9,699,000 | | | 8,938,235 |
| 3.000%, 08/15/2052 | | 11,383,000 | | | 10,790,728 |
| 3.250%, 05/15/2042 | | 10,007,000 | | | 9,572,321 |
| 3.375%, 08/15/2042 | | 3,274,000 | | | 3,194,708 |
| U.S. Treasury Notes | | | | | |
| 0.125%, 09/30/2022 | | 14,120,000 | | | 14,095,998 |
| 0.250%, 08/31/2025 | | 3,656,000 | | | 3,319,677 |
| 0.375%, 11/30/2025 to 01/31/2026 | | 27,000,000 | | | 24,346,035 |
Core Bond Fund (continued)
| | | Shares or
Principal
Amount | | Value |
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS (continued) | | | |
| U.S. Government (continued) | | | | | |
| U.S. Treasury Notes (continued) | | | | | |
| 0.625%, 11/30/2027 | $ | 11,579,000 | | $ | 10,066,493 |
| 0.875%, 06/30/2026 | | 6,075,000 | | | 5,515,910 |
| 1.000%, 07/31/2028 | | 8,140,000 | | | 7,115,823 |
| 1.250%, 06/30/2028 | | 17,278,000 | | | 15,353,123 |
| 1.375%, 10/31/2028 | | 23,423,000 | | | 20,851,960 |
| 1.500%, 08/15/2026 to 11/30/2028 | | 36,234,000 | | | 33,455,535 |
| 1.625%, 05/15/2026 | | 29,685,000 | | | 27,805,337 |
| 2.000%, 11/15/2026 | | 16,938,000 | | | 15,991,854 |
| 2.375%, 05/15/2027 | | 5,361,000 | | | 5,126,247 |
| 2.500%, 04/30/2024 | | 17,771,000 | | | 17,489,163 |
| 2.625%, 07/31/2029 | | 5,152,000 | | | 4,938,675 |
| 2.750%, 07/31/2027 to 08/15/2032 | | 63,935,000 | | | 61,847,770 |
| 2.875%, 04/30/2025 | | 5,553,000 | | | 5,463,848 |
| 3.000%, 06/30/2024 to 07/31/2024 | | 11,086,000 | | | 10,989,654 |
| 3.125%, 08/15/2025 to 08/31/2027 | | 3,058,000 | | | 3,028,931 |
| The accompanying notes are an integral part of the financial statements. | 22 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
Core Bond Fund (continued)
| | | Shares or
Principal
Amount | | Value |
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS (continued) | | | |
| U.S. Government (continued) | | | | | |
| U.S. Treasury Notes (continued) | | | | | |
| 3.250%, 06/30/2027 to 06/30/2029 | $ | 8,028,000 | | $ | 7,993,079 |
| | | | | | 477,338,500 |
| U.S. Government Agency – 26.2% | | | | | |
| Federal Home Loan Mortgage Corp. | | | | | |
| 2.000%, 04/01/2041 (A) | | 1,059,052 | | | 941,104 |
| 2.000%, 11/01/2041 to 12/01/2051 | | 18,108,976 | | | 15,986,700 |
| 2.330%, (12 month LIBOR + 1.650%), 03/01/2043 (B) | | 296,525 | | | 299,265 |
| 2.349%, (12 month LIBOR + 1.642%), 08/01/2043 (B) | | 207,760 | | | 207,798 |
| 2.358%, (12 month LIBOR + 1.635%), 07/01/2043 (B) | | 112,084 | | | 112,079 |
| 2.436%, (12 month LIBOR + 1.638%), 09/01/2045 (B) | | 2,110,771 | | | 2,123,943 |
| 2.500%, 04/01/2042 to 03/01/2052 | | 12,830,568 | | | 11,566,885 |
| 2.507%, (12 month LIBOR + 1.632%), 11/01/2043 (B) | | 189,510 | | | 189,282 |
| 2.542%, (12 month LIBOR + 1.646%), 10/01/2043 (B) | | 388,028 | | | 388,530 |
| 2.554%, (12 month LIBOR + 1.606%), 09/01/2043 (B) | | 88,536 | | | 88,482 |
| 2.628%, (12 month LIBOR + 1.685%), 02/01/2043 (B) | | 314,957 | | | 320,829 |
| 2.647%, (12 month LIBOR + 1.770%), 09/01/2042 (B) | | 220,684 | | | 226,749 |
| 2.671%, (12 month LIBOR + 1.612%), 10/01/2043 (B) | | 230,265 | | | 229,815 |
| 2.780%, (12 month LIBOR + 1.681%), 09/01/2047 (B) | | 1,105,390 | | | 1,117,742 |
| 2.801%, (12 month LIBOR + 1.640%), 05/01/2049 (B) | | 955,735 | | | 937,154 |
| 2.841%, (12 month LIBOR + 1.720%), 01/01/2044 (B) | | 400,401 | | | 400,381 |
| 3.233%, (12 month LIBOR + 1.635%), 04/01/2048 (B) | | 2,262,609 | | | 2,273,662 |
| 3.394%, 12/14/2029 (C) | | 2,068,000 | | | 1,615,676 |
| 3.439%, (12 month LIBOR + 1.637%), 03/01/2049 (B) | | 960,802 | | | 956,840 |
| 3.912%, (1 month SOFR + 2.130%), 07/01/2052 (B) | | 766,232 | | | 755,034 |
| 3.991%, (1 month SOFR + 2.140%), 08/01/2052 (B) | | 1,037,810 | | | 1,019,093 |
| 4.000%, 01/01/2035 to 07/01/2049 | | 5,696,554 | | | 5,669,732 |
| 4.119%, (1 month SOFR + 2.380%), 09/01/2052 (B) | | 532,000 | | | 527,727 |
| 4.303%, (1 month SOFR + 2.130%), 07/01/2052 (B) | | 942,429 | | | 940,124 |
| 4.500%, 06/01/2039 to 07/01/2039 | | 102,706 | | | 104,058 |
| 5.000%, 05/01/2048 to 03/01/2049 | | 4,500,096 | | | 4,654,828 |
| Federal National Mortgage Association | | | | | |
| 1.500%, 10/01/2041 to 11/01/2041 | | 14,165,961 | | | 12,022,654 |
| 1.612%, (1 month SOFR + 2.214%), 12/01/2051 (B) | | 511,353 | | | 466,532 |
| 2.000%, TBA (A) | | 2,700,000 | | | 2,322,845 |
| 2.000%, 01/01/2042 to 03/01/2052 | | 35,808,395 | | | 31,260,725 |
| 2.000%, 12/01/2050 (A) | | 8,015,421 | | | 6,927,352 |
| 2.255%, (12 month LIBOR + 1.560%), 06/01/2043 (B) | | 152,038 | | | 152,812 |
| 2.452%, (12 month LIBOR + 1.564%), 03/01/2043 (B) | | 74,895 | | | 75,841 |
| 2.468%, (12 month LIBOR + 1.579%), 10/01/2043 (B) | | 516,964 | | | 516,693 |
| 2.500%, 12/01/2035 to 03/01/2052 | | 54,235,447 | | | 49,802,246 |
Core Bond Fund (continued)
| | | Shares or
Principal
Amount | | Value |
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS (continued) | | | |
| U.S. Government Agency (continued) | | | | | |
Federal National
Mortgage Association (continued) | | | | | |
| 2.650%, (12 month LIBOR + 1.584%), 01/01/2046 (B) | $ | 2,355,629 | | $ | 2,384,842 |
| 2.732%, (12 month LIBOR + 1.579%), 06/01/2045 (B) | | 800,023 | | | 813,368 |
| 2.953%, (12 month LIBOR + 1.643%), 01/01/2043 (B) | | 174,098 | | | 178,011 |
| 3.000%, 01/01/2043 to 02/01/2055 | | 2,769,264 | | | 2,608,000 |
| 3.500%, 04/01/2050 to 02/01/2052 | | 6,392,220 | | | 6,210,459 |
| 3.561%, 11/15/2030 (C) | | 6,077,000 | | | 4,540,919 |
| 3.686%, (1 month SOFR + 2.370%), 08/01/2052 (B) | | 1,164,439 | | | 1,141,779 |
| 3.963%, (1 month SOFR + 2.120%), 08/01/2052 (B) | | 455,335 | | | 447,718 |
| 4.000%, 09/01/2033 to 08/01/2059 | | 18,632,793 | | | 18,592,594 |
| 4.200%, (1 month SOFR + 2.120%), 07/01/2052 (B) | | 1,834,672 | | | 1,816,599 |
| 4.225%, (1 month SOFR + 2.370%), 09/01/2052 (B) | | 532,000 | | | 530,708 |
| 4.320%, (1 month SOFR + 2.126%), 08/01/2052 (B) | | 2,130,000 | | | 2,133,312 |
| 4.347%, (1 month SOFR + 2.126%), 07/01/2052 (B) | | 2,118,731 | | | 2,123,903 |
| 4.500%, TBA (A) | | 27,400,000 | | | 27,190,530 |
| 4.500%, 05/01/2034 to 08/01/2049 | | 18,240,094 | | | 18,611,985 |
| 4.540%, (1 month SOFR + 2.130%), 08/01/2052 (B) | | 3,267,000 | | | 3,291,547 |
| 4.615%, (1 month SOFR + 2.127%), 08/01/2052 (B) | | 2,440,000 | | | 2,462,168 |
| 4.650%, (1 month SOFR + 2.122%), 08/01/2052 (B) | | 1,738,000 | | | 1,746,131 |
| 4.650%, (1 month SOFR + 2.131%), 08/01/2052 (B) | | 1,900,000 | | | 1,919,565 |
| 5.000%, TBA (A) | | 102,400,000 | | | 103,166,804 |
| 5.000%, 07/01/2044 to 11/01/2049 | | 2,487,054 | | | 2,548,832 |
| 5.500%, TBA (A) | | 16,800,000 | | | 17,128,126 |
| 5.500%, 12/01/2048 to 06/01/2049 | | 4,860,412 | | | 5,104,444 |
Government National
Mortgage Association | | | | | |
| 2.500%, 12/20/2051 | | 10,982,836 | | | 10,041,976 |
| 3.000%, 10/20/2046 to 10/20/2050 | | 6,519,321 | | | 6,129,586 |
| 3.500%, 01/20/2048 | | 808,301 | | | 785,807 |
| 4.000%, 03/20/2048 to 07/20/2049 | | 3,262,936 | | | 3,235,354 |
| 4.500%, TBA (A) | | 5,200,000 | | | 5,200,096 |
| 4.500%, 08/15/2047 to 05/20/2049 | | 3,173,164 | | | 3,209,004 |
| 5.000%, 12/20/2039 to 03/20/2049 | | 9,353,259 | | | 9,628,166 |
| | | | | | 422,123,545 |
| TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $957,098,774) | | $ | 899,462,045 |
| FOREIGN GOVERNMENT OBLIGATIONS – 0.8% | | | |
| Bermuda – 0.0% | | | | | |
Government of Bermuda
5.000%, 07/15/2032 (D) | | 693,000 | | | 697,615 |
| Canada – 0.1% | | | | | |
Province of Saskatchewan
3.250%, 06/08/2027 | | 835,000 | | | 819,349 |
| Chile – 0.1% | | | | | |
| Republic of Chile | | | | | |
| 3.500%, 01/31/2034 | | 395,000 | | | 342,725 |
| 4.340%, 03/07/2042 | | 888,000 | | | 762,216 |
| | | | | | 1,104,941 |
| The accompanying notes are an integral part of the financial statements. | 23 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
Core Bond Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| FOREIGN GOVERNMENT OBLIGATIONS (continued) | | | |
| Italy – 0.0% | | | | | |
Republic of Italy
3.875%, 05/06/2051 | $ | 406,000 | | $ | 297,448 |
| Mexico – 0.4% | | | | | |
| Government of Mexico | | | | | |
| 3.500%, 02/12/2034 | | 705,000 | | | 589,767 |
| 3.750%, 04/19/2071 | | 1,249,000 | | | 810,593 |
| 4.400%, 02/12/2052 | | 1,513,000 | | | 1,156,813 |
| 4.500%, 04/22/2029 | | 1,411,000 | | | 1,380,542 |
| 4.600%, 02/10/2048 | | 305,000 | | | 244,586 |
| 4.875%, 05/19/2033 | | 2,904,000 | | | 2,781,914 |
| | | | | | 6,964,215 |
| Paraguay – 0.1% | | | | | |
| Republic of Paraguay | | | | | |
| 3.849%, 06/28/2033 (D) | | 322,000 | | | 275,201 |
| 4.950%, 04/28/2031 (D) | | 315,000 | | | 303,098 |
| 5.400%, 03/30/2050 (D) | | 944,000 | | | 789,720 |
| | | | | | 1,368,019 |
| Peru – 0.0% | | | | | |
Republic of Peru
3.600%, 01/15/2072 | | 324,000 | | | 221,708 |
| South Korea – 0.1% | | | | | |
Korea Hydro & Nuclear Power Company Ltd.
4.250%, 07/27/2027 (D) | | 1,148,000 | | | 1,138,324 |
| TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $14,041,031) | | $ | 12,611,619 |
| CORPORATE BONDS – 26.4% | | | |
| Communication services – 1.8% | | | | | |
| AT&T, Inc. | | | | | |
| 1.700%, 03/25/2026 | | 2,749,000 | | | 2,509,375 |
| 3.500%, 06/01/2041 | | 590,000 | | | 465,054 |
| 3.550%, 09/15/2055 | | 578,000 | | | 423,207 |
| 3.650%, 06/01/2051 to 09/15/2059 | | 1,603,000 | | | 1,179,748 |
| 3.800%, 12/01/2057 | | 1,054,000 | | | 797,846 |
| Charter Communications Operating LLC | | | | | |
| 3.500%, 06/01/2041 to 03/01/2042 | | 1,863,000 | | | 1,287,565 |
| 3.900%, 06/01/2052 | | 330,000 | | | 223,592 |
| Magallanes, Inc. | | | | | |
| 3.638%, 03/15/2025 (D) | | 1,105,000 | | | 1,066,895 |
| 3.755%, 03/15/2027 (D) | | 1,679,000 | | | 1,568,322 |
| 4.054%, 03/15/2029 (D) | | 552,000 | | | 502,648 |
| 5.050%, 03/15/2042 (D) | | 1,212,000 | | | 990,824 |
| 5.141%, 03/15/2052 (D) | | 2,006,000 | | | 1,605,596 |
| 5.391%, 03/15/2062 (D) | | 1,377,000 | | | 1,105,322 |
| Meta Platforms, Inc. | | | | | |
| 3.850%, 08/15/2032 (D) | | 1,736,000 | | | 1,632,587 |
| 4.650%, 08/15/2062 (D) | | 463,000 | | | 417,695 |
| Netflix, Inc. | | | | | |
| 5.375%, 11/15/2029 (D) | | 771,000 | | | 759,435 |
| 5.875%, 11/15/2028 | | 1,054,000 | | | 1,065,815 |
Rogers Communications, Inc.
4.550%, 03/15/2052 (D) | | 664,000 | | | 582,846 |
| T-Mobile USA, Inc. | | | | | |
| 2.250%, 02/15/2026 | | 2,500,000 | | | 2,296,922 |
| 2.875%, 02/15/2031 | | 251,000 | | | 212,145 |
| 3.375%, 04/15/2029 | | 2,923,000 | | | 2,633,038 |
| 3.500%, 04/15/2031 | | 165,000 | | | 146,106 |
| Verizon Communications, Inc. | | | | | |
| 2.355%, 03/15/2032 | | 1,812,000 | | | 1,486,578 |
| 2.550%, 03/21/2031 | | 866,000 | | | 731,946 |
| 2.650%, 11/20/2040 | | 2,317,000 | | | 1,672,409 |
| 3.550%, 03/22/2051 | | 1,158,000 | | | 910,062 |
Core Bond Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| CORPORATE BONDS (continued) | | | |
| Communication services (continued) | | | | | |
| Vodafone Group PLC | | | | | |
| 4.250%, 09/17/2050 | $ | 219,000 | | $ | 179,063 |
| 5.000%, 05/30/2038 | | 276,000 | | | 261,694 |
| | | | | | 28,714,335 |
| Consumer discretionary – 1.5% | | | | | |
| Amazon.com, Inc. | | | | | |
| 2.100%, 05/12/2031 | | 960,000 | | | 825,912 |
| 2.500%, 06/03/2050 | | 530,000 | | | 368,737 |
| 2.875%, 05/12/2041 | | 384,000 | | | 306,357 |
| 3.450%, 04/13/2029 | | 828,000 | | | 800,683 |
| 3.600%, 04/13/2032 | | 508,000 | | | 486,945 |
AutoNation, Inc.
4.750%, 06/01/2030 | | 965,000 | | | 903,284 |
Ford Motor Company
4.750%, 01/15/2043 | | 117,000 | | | 87,522 |
| Ford Motor Credit Company LLC | | | | | |
| 2.700%, 08/10/2026 | | 1,872,000 | | | 1,621,307 |
| 2.900%, 02/10/2029 | | 957,000 | | | 774,452 |
| 3.625%, 06/17/2031 | | 901,000 | | | 729,567 |
| General Motors Company | | | | | |
| 5.400%, 10/15/2029 | | 1,447,000 | | | 1,411,750 |
| 5.600%, 10/15/2032 | | 1,390,000 | | | 1,330,671 |
General Motors Financial Company, Inc.
3.100%, 01/12/2032 | | 594,000 | | | 479,380 |
| Hyundai Capital America | | | | | |
| 0.800%, 01/08/2024 (D) | | 486,000 | | | 461,773 |
| 1.300%, 01/08/2026 (D) | | 1,165,000 | | | 1,031,096 |
| 2.000%, 06/15/2028 (D) | | 549,000 | | | 455,544 |
Lowe's Companies, Inc.
4.250%, 04/01/2052 | | 1,158,000 | | | 986,254 |
| Marriott International, Inc. | | | | | |
| 2.850%, 04/15/2031 | | 736,000 | | | 612,765 |
| 3.500%, 10/15/2032 | | 832,000 | | | 711,802 |
| 4.625%, 06/15/2030 | | 2,295,000 | | | 2,191,889 |
| McDonald's Corp. | | | | | |
| 3.625%, 09/01/2049 | | 898,000 | | | 727,092 |
| 4.200%, 04/01/2050 | | 1,327,000 | | | 1,174,683 |
Target Corp.
2.950%, 01/15/2052 | | 1,514,000 | | | 1,138,473 |
| The Home Depot, Inc. | | | | | |
| 2.375%, 03/15/2051 | | 882,000 | | | 579,201 |
| 3.125%, 12/15/2049 | | 1,070,000 | | | 820,889 |
| 3.250%, 04/15/2032 | | 1,377,000 | | | 1,270,419 |
| 3.300%, 04/15/2040 | | 229,000 | | | 191,630 |
| 3.625%, 04/15/2052 | | 549,000 | | | 460,822 |
The Trustees of the University of Pennsylvania
3.610%, 02/15/2119 | | 954,000 | | | 695,478 |
| | | | | | 23,636,377 |
| Consumer staples – 0.6% | | | | | |
| Anheuser-Busch Companies LLC | | | | | |
| 4.700%, 02/01/2036 | | 1,558,000 | | | 1,507,346 |
| 4.900%, 02/01/2046 | | 2,123,000 | | | 2,015,487 |
| Anheuser-Busch InBev Worldwide, Inc. | | | | | |
| 3.750%, 07/15/2042 | | 501,000 | | | 412,591 |
| 4.375%, 04/15/2038 | | 1,638,000 | | | 1,512,653 |
BAT Capital Corp.
4.390%, 08/15/2037 | | 292,000 | | | 230,960 |
Bunge, Ltd. Finance Corp.
1.630%, 08/17/2025 | | 959,000 | | | 890,319 |
PepsiCo, Inc.
3.900%, 07/18/2032 | | 1,273,000 | | | 1,247,471 |
| Viterra Finance BV | | | | | |
| 3.200%, 04/21/2031 (D) | | 283,000 | | | 221,964 |
| 4.900%, 04/21/2027 (D) | | 725,000 | | | 695,969 |
| The accompanying notes are an integral part of the financial statements. | 24 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
Core Bond Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| CORPORATE BONDS (continued) | | | |
| Consumer staples (continued) | | | | | |
| Viterra Finance BV (continued) | | | | | |
| 5.250%, 04/21/2032 (D) | $ | 1,686,000 | | $ | 1,536,054 |
| | | | | | 10,270,814 |
| Energy – 1.4% | | | | | |
| Aker BP ASA | | | | | |
| 2.000%, 07/15/2026 (D) | | 1,416,000 | | | 1,263,118 |
| 3.100%, 07/15/2031 (D) | | 1,601,000 | | | 1,346,699 |
| 3.750%, 01/15/2030 (D) | | 371,000 | | | 333,451 |
| 4.000%, 01/15/2031 (D) | | 655,000 | | | 591,256 |
BP Capital Markets America, Inc.
2.939%, 06/04/2051 | | 549,000 | | | 393,437 |
Diamondback Energy, Inc.
4.400%, 03/24/2051 | | 216,000 | | | 183,652 |
| Energy Transfer LP | | | | | |
| 4.400%, 03/15/2027 | | 273,000 | | | 264,510 |
| 4.950%, 05/15/2028 | | 2,034,000 | | | 1,988,498 |
| 5.300%, 04/15/2047 | | 1,295,000 | | | 1,134,791 |
| 6.125%, 12/15/2045 | | 492,000 | | | 473,894 |
| Exxon Mobil Corp. | | | | | |
| 3.452%, 04/15/2051 | | 1,546,000 | | | 1,275,786 |
| 4.327%, 03/19/2050 | | 463,000 | | | 440,577 |
| Galaxy Pipeline Assets Bidco, Ltd. | | | | | |
| 1.750%, 09/30/2027 (D) | | 1,544,086 | | | 1,447,454 |
| 2.160%, 03/31/2034 (D) | | 1,241,431 | | | 1,083,297 |
| 2.625%, 03/31/2036 (D) | | 817,000 | | | 687,301 |
| 2.940%, 09/30/2040 (D) | | 488,357 | | | 407,808 |
| Kinder Morgan, Inc. | | | | | |
| 3.250%, 08/01/2050 | | 797,000 | | | 555,074 |
| 3.600%, 02/15/2051 | | 317,000 | | | 235,802 |
| 5.450%, 08/01/2052 | | 1,796,000 | | | 1,745,075 |
Ovintiv, Inc.
7.375%, 11/01/2031 | | 387,000 | | | 421,856 |
| Petroleos Mexicanos | | | | | |
| 2.378%, 04/15/2025 | | 262,500 | | | 256,799 |
| 2.460%, 12/15/2025 | | 1,190,350 | | | 1,156,613 |
| Pioneer Natural Resources Company | | | | | |
| 1.900%, 08/15/2030 | | 933,000 | | | 760,159 |
| 2.150%, 01/15/2031 | | 1,117,000 | | | 919,283 |
Targa Resources Corp.
6.250%, 07/01/2052 | | 676,000 | | | 696,113 |
| Targa Resources Partners LP | | | | | |
| 4.000%, 01/15/2032 | | 371,000 | | | 324,890 |
| 4.875%, 02/01/2031 | | 1,295,000 | | | 1,200,438 |
| 5.500%, 03/01/2030 | | 324,000 | | | 316,472 |
| | | | | | 21,904,103 |
| Financials – 10.0% | | | | | |
American Express Company
4.420%, (4.420% to 8-3-32, then SOFR + 1.760%), 08/03/2033 | | 1,736,000 | | | 1,674,324 |
Antares Holdings LP
3.750%, 07/15/2027 (D) | | 1,268,000 | | | 1,060,887 |
Ares Capital Corp.
3.200%, 11/15/2031 | | 529,000 | | | 412,613 |
| Athene Global Funding | | | | | |
| 1.730%, 10/02/2026 (D) | | 2,495,000 | | | 2,174,166 |
| 1.985%, 08/19/2028 (D) | | 1,377,000 | | | 1,142,059 |
| 2.500%, 03/24/2028 (D) | | 1,930,000 | | | 1,653,199 |
| 2.514%, 03/08/2024 (D) | | 2,257,000 | | | 2,181,731 |
| 2.646%, 10/04/2031 (D) | | 1,822,000 | | | 1,441,261 |
| 3.205%, 03/08/2027 (D) | | 2,752,000 | | | 2,500,559 |
Bain Capital Specialty Finance, Inc.
2.550%, 10/13/2026 | | 115,000 | | | 97,326 |
| Banco Santander SA | | | | | |
| 1.722%, (1.722% to 9-14-26, then 1 Year CMT + 0.900%), 09/14/2027 | | 1,400,000 | | | 1,205,166 |
Core Bond Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| CORPORATE BONDS (continued) | | | |
| Financials (continued) | | | | | |
| Banco Santander SA (continued) | | | | | |
| 3.225%, (3.225% to 11-22-31, then 1 Year CMT + 1.600%), 11/22/2032 | $ | 800,000 | | $ | 611,541 |
| 5.147%, 08/18/2025 | | 3,800,000 | | | 3,781,718 |
| 5.294%, 08/18/2027 | | 2,400,000 | | | 2,348,867 |
| Bank of America Corp. | | | | | |
| 1.530%, (1.530% to 12-6-24, then SOFR + 0.650%), 12/06/2025 | | 3,920,000 | | | 3,657,982 |
| 1.658%, (1.658% to 3-11-26, then SOFR + 0.910%), 03/11/2027 | | 4,380,000 | | | 3,925,173 |
| 1.734%, (1.734% to 7-22-26, then SOFR + 0.960%), 07/22/2027 | | 3,323,000 | | | 2,948,671 |
| 2.687%, (2.687% to 4-22-31, then SOFR + 1.320%), 04/22/2032 | | 4,224,000 | | | 3,501,683 |
| 3.004%, (3.004% to 12-20-22, then 3 month LIBOR + 0.790%), 12/20/2023 | | 2,193,000 | | | 2,184,899 |
| 3.384%, (3.384% to 4-2-25, then SOFR + 1.330%), 04/02/2026 | | 5,151,000 | | | 4,970,554 |
| 3.419%, (3.419% to 12-20-27, then 3 month LIBOR + 1.040%), 12/20/2028 | | 3,060,000 | | | 2,834,358 |
| 4.827%, (4.827% to 7-22-25, then SOFR + 1.750%), 07/22/2026 | | 3,180,000 | | | 3,185,642 |
| 4.948%, (4.948% to 7-22-27, then SOFR + 2.040%), 07/22/2028 | | 3,180,000 | | | 3,177,094 |
| 5.015%, (5.015% to 7-22-32, then SOFR + 2.160%), 07/22/2033 | | 1,276,000 | | | 1,264,090 |
| Blackstone Private Credit Fund | | | | | |
| 3.250%, 03/15/2027 | | 1,136,000 | | | 974,635 |
| 4.000%, 01/15/2029 | | 1,758,000 | | | 1,515,393 |
Brighthouse Financial, Inc.
3.850%, 12/22/2051 | | 546,000 | | | 375,924 |
| Citigroup, Inc. | | | | | |
| 4.658%, (4.658% to 5-24-27, then SOFR + 1.887%), 05/24/2028 | | 1,397,000 | | | 1,377,361 |
| 4.910%, (4.910% to 5-24-32, then SOFR + 2.086%), 05/24/2033 | | 1,558,000 | | | 1,524,070 |
Citizens Bank NA
4.575%, (4.575% to 8-9-27, then SOFR + 2.000%), 08/09/2028 | | 1,755,000 | | | 1,735,330 |
| Cooperatieve Rabobank UA | | | | | |
| 3.649%, (3.649% to 4-6-27, then 1 Year CMT + 1.220%), 04/06/2028 (D) | | 3,150,000 | | | 2,961,274 |
| 3.758%, (3.758% to 4-6-32, then 1 Year CMT + 1.420%), 04/06/2033 (D) | | 1,909,000 | | | 1,694,510 |
Deutsche Bank AG
3.742%, (3.742% to 10-7-31, then SOFR + 2.257%), 01/07/2033 | | 2,822,000 | | | 2,005,022 |
Enstar Group, Ltd.
3.100%, 09/01/2031 | | 1,387,000 | | | 1,044,164 |
F&G Global Funding
2.000%, 09/20/2028 (D) | | 1,165,000 | | | 973,347 |
GA Global Funding Trust
0.800%, 09/13/2024 (D) | | 1,921,000 | | | 1,767,127 |
GE Capital International Funding Company
4.418%, 11/15/2035 | | 386,000 | | | 364,976 |
| HSBC Holdings PLC | | | | | |
| 5.210%, (5.210% to 8-11-27, then SOFR + 2.610%), 08/11/2028 | | 1,720,000 | | | 1,678,811 |
| 5.402%, (5.402% to 8-11-32, then SOFR + 2.870%), 08/11/2033 | | 863,000 | | | 821,122 |
Huntington Bancshares, Inc.
4.443%, (4.443% to 8-4-27, then SOFR + 1.970%), 08/04/2028 | | 1,155,000 | | | 1,128,815 |
| The accompanying notes are an integral part of the financial statements. | 25 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
Core Bond Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| CORPORATE BONDS (continued) | | | |
| Financials (continued) | | | | | |
| Jackson Financial, Inc. | | | | | |
| 5.170%, 06/08/2027 | $ | 809,000 | | $ | 798,630 |
| 5.670%, 06/08/2032 | | 1,117,000 | | | 1,084,337 |
| JPMorgan Chase & Co. | | | | | |
| 1.040%, (1.040% to 2-4-26, then 3 month CME Term SOFR + 0.695%), 02/04/2027 | | 5,526,000 | | | 4,865,673 |
| 1.045%, (1.045% to 11-19-25, then SOFR + 0.800%), 11/19/2026 | | 3,079,000 | | | 2,735,564 |
| 1.470%, (1.470% to 9-22-26, then SOFR + 0.765%), 09/22/2027 | | 1,374,000 | | | 1,203,242 |
| 1.561%, (1.561% to 12-10-24, then SOFR + 0.605%), 12/10/2025 | | 8,084,000 | | | 7,548,681 |
| 2.182%, (2.182% to 6-1-27, then SOFR + 1.890%), 06/01/2028 | | 1,692,000 | | | 1,503,411 |
| 4.565%, (4.565% to 6-14-29, then SOFR + 1.750%), 06/14/2030 | | 1,397,000 | | | 1,355,136 |
| 4.851%, (4.851% to 7-25-27, then SOFR + 1.990%), 07/25/2028 | | 2,307,000 | | | 2,302,383 |
| 4.912%, (4.912% to 7-25-32, then SOFR + 2.080%), 07/25/2033 | | 1,155,000 | | | 1,142,182 |
KKR Group Finance Company XII LLC
4.850%, 05/17/2032 (D) | | 675,000 | | | 658,441 |
Liberty Mutual Group, Inc.
5.500%, 06/15/2052 (D) | | 835,000 | | | 814,883 |
| Lloyds Banking Group PLC | | | | | |
| 4.716%, (4.716% to 8-11-25, then 1 Year CMT + 1.750%), 08/11/2026 | | 2,291,000 | | | 2,260,272 |
| 4.976%, (4.976% to 8-11-32, then 1 Year CMT + 2.300%), 08/11/2033 | | 1,320,000 | | | 1,253,865 |
| Mitsubishi UFJ Financial Group, Inc. | | | | | |
| 2.309%, (2.309% to 7-20-31, then 1 Year CMT + 0.950%), 07/20/2032 | | 1,387,000 | | | 1,115,839 |
| 2.341%, (2.341% to 1-19-27, then 1 Year CMT + 0.830%), 01/19/2028 | | 852,000 | | | 764,531 |
| 2.494%, (2.494% to 10-13-31, then 1 Year CMT + 0.970%), 10/13/2032 | | 488,000 | | | 396,995 |
| 5.017%, (5.017% to 7-20-27, then 1 Year CMT + 1.950%), 07/20/2028 | | 1,621,000 | | | 1,629,197 |
| 5.133%, (5.133% to 7-20-32, then 1 Year CMT + 2.125%), 07/20/2033 | | 1,154,000 | | | 1,158,195 |
Moody's Corp.
4.250%, 08/08/2032 | | 406,000 | | | 392,649 |
| Morgan Stanley | | | | | |
| 0.790%, (0.790% to 5-30-24, then SOFR + 0.525%), 05/30/2025 | | 3,558,000 | | | 3,325,855 |
| 0.791%, (0.791% to 1-22-24, then SOFR + 0.509%), 01/22/2025 | | 3,523,000 | | | 3,341,504 |
| 0.864%, (0.864% to 10-21-24, then SOFR + 0.745%), 10/21/2025 | | 1,098,000 | | | 1,014,121 |
| 0.985%, (0.985% to 12-10-25, then SOFR + 0.720%), 12/10/2026 | | 2,809,000 | | | 2,487,455 |
| 1.512%, (1.512% to 7-20-26, then SOFR + 0.858%), 07/20/2027 | | 2,149,000 | | | 1,902,943 |
| 2.475%, (2.475% to 1-21-27, then SOFR + 1.000%), 01/21/2028 | | 549,000 | | | 498,685 |
Morgan Stanley Direct Lending Fund
4.500%, 02/11/2027 | | 462,000 | | | 425,484 |
Owl Rock Capital Corp.
3.400%, 07/15/2026 | | 1,476,000 | | | 1,320,123 |
Owl Rock Capital Corp. III
3.125%, 04/13/2027 (D) | | 751,000 | | | 630,368 |
SBL Holdings, Inc.
5.000%, 02/18/2031 (D) | | 1,911,000 | | | 1,528,435 |
Core Bond Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| CORPORATE BONDS (continued) | | | |
| Financials (continued) | | | | | |
Stewart Information Services Corp.
3.600%, 11/15/2031 | $ | 743,000 | | $ | 612,340 |
| The Bank of New York Mellon Corp. | | | | | |
| 4.289%, (4.289% to 6-13-32, then SOFR + 1.418%), 06/13/2033 | | 2,790,000 | | | 2,722,537 |
| 4.596%, (4.596% to 7-26-29, then SOFR + 1.755%), 07/26/2030 | | 1,041,000 | | | 1,040,218 |
| The Goldman Sachs Group, Inc. | | | | | |
| 0.657%, (0.657% to 9-10-23, then SOFR + 0.505%), 09/10/2024 | | 2,764,000 | | | 2,650,771 |
| 0.925%, (0.925% to 10-21-23, then SOFR + 0.486%), 10/21/2024 | | 4,104,000 | | | 3,928,042 |
| 1.757%, (1.757% to 1-24-24, then SOFR + 0.730%), 01/24/2025 | | 2,317,000 | | | 2,226,549 |
| 1.948%, (1.948% to 10-21-26, then SOFR + 0.913%), 10/21/2027 | | 1,368,000 | | | 1,215,039 |
| Truist Financial Corp. | | | | | |
| 4.123%, (4.123% to 6-6-27, then SOFR + 1.368%), 06/06/2028 | | 1,965,000 | | | 1,926,338 |
| 4.260%, (4.260% to 7-28-25, then SOFR + 1.456%), 07/28/2026 | | 1,158,000 | | | 1,155,390 |
Trust Fibra Uno
6.390%, 01/15/2050 (D) | | 682,000 | | | 554,125 |
| UBS Group AG | | | | | |
| 4.490%, (4.490% to 8-5-24, then 1 Year CMT + 1.600%), 08/05/2025 (D) | | 1,917,000 | | | 1,910,516 |
| 4.703%, (4.703% to 8-5-26, then 1 Year CMT + 2.050%), 08/05/2027 (D) | | 4,001,000 | | | 3,927,169 |
| Wells Fargo & Company | | | | | |
| 3.526%, (3.526% to 3-24-27, then SOFR + 1.510%), 03/24/2028 | | 5,767,000 | | | 5,447,943 |
| 3.908%, (3.908% to 4-25-25, then SOFR + 1.320%), 04/25/2026 | | 2,193,000 | | | 2,148,731 |
| 4.808%, (4.808% to 7-25-27, then SOFR + 1.980%), 07/25/2028 | | 1,155,000 | | | 1,146,521 |
| 4.897%, (4.897% to 7-25-32, then SOFR + 2.100%), 07/25/2033 | | 863,000 | | | 849,159 |
| | | | | | 160,797,911 |
| Health care – 3.0% | | | | | |
| AbbVie, Inc. | | | | | |
| 2.300%, 11/21/2022 | | 1,720,000 | | | 1,716,529 |
| 3.200%, 11/21/2029 | | 1,641,000 | | | 1,498,833 |
| 4.050%, 11/21/2039 | | 651,000 | | | 573,847 |
| 4.250%, 11/21/2049 | | 1,904,000 | | | 1,674,331 |
| 4.300%, 05/14/2036 | | 400,000 | | | 372,328 |
| 4.450%, 05/14/2046 | | 406,000 | | | 365,151 |
| Amgen, Inc. | | | | | |
| 3.000%, 01/15/2052 | | 324,000 | | | 228,152 |
| 4.050%, 08/18/2029 | | 1,444,000 | | | 1,404,591 |
| 4.200%, 03/01/2033 | | 1,155,000 | | | 1,113,334 |
| 4.875%, 03/01/2053 | | 955,000 | | | 926,348 |
Astrazeneca Finance LLC
1.750%, 05/28/2028 | | 1,946,000 | | | 1,717,942 |
AstraZeneca PLC
1.375%, 08/06/2030 | | 559,000 | | | 458,288 |
| Becton, Dickinson and Company | | | | | |
| 1.957%, 02/11/2031 | | 438,000 | | | 356,668 |
| 4.298%, 08/22/2032 | | 1,273,000 | | | 1,236,255 |
| Centene Corp. | | | | | |
| 2.450%, 07/15/2028 | | 2,844,000 | | | 2,398,601 |
| 2.500%, 03/01/2031 | | 514,000 | | | 410,131 |
| 3.000%, 10/15/2030 | | 1,238,000 | | | 1,034,720 |
| Cigna Corp. | | | | | |
| 3.400%, 03/15/2050 | | 279,000 | | | 209,729 |
| 4.900%, 12/15/2048 | | 698,000 | | | 662,645 |
| The accompanying notes are an integral part of the financial statements. | 26 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
Core Bond Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| CORPORATE BONDS (continued) | | | |
| Health care (continued) | | | | | |
| CSL Finance PLC | | | | | |
| 3.850%, 04/27/2027 (D) | $ | 276,000 | | $ | 272,059 |
| 4.050%, 04/27/2029 (D) | | 555,000 | | | 538,644 |
| 4.750%, 04/27/2052 (D) | | 1,041,000 | | | 1,001,073 |
| CVS Health Corp. | | | | | |
| 3.000%, 08/15/2026 | | 594,000 | | | 571,238 |
| 4.300%, 03/25/2028 | | 1,257,000 | | | 1,242,647 |
| 5.050%, 03/25/2048 | | 1,006,000 | | | 968,589 |
| Danaher Corp. | | | | | |
| 2.600%, 10/01/2050 | | 654,000 | | | 451,281 |
| 2.800%, 12/10/2051 | | 438,000 | | | 310,846 |
| DH Europe Finance II Sarl | | | | | |
| 2.050%, 11/15/2022 | | 879,000 | | | 876,405 |
| 2.200%, 11/15/2024 | | 1,511,000 | | | 1,453,399 |
| Gilead Sciences, Inc. | | | | | |
| 2.600%, 10/01/2040 | | 955,000 | | | 693,776 |
| 2.800%, 10/01/2050 | | 892,000 | | | 611,028 |
| 4.000%, 09/01/2036 | | 492,000 | | | 448,305 |
GSK Consumer Healthcare Capital
US LLC | | | | | |
| 3.375%, 03/24/2027 to 03/24/2029 (D) | | 2,349,000 | | | 2,171,688 |
| 3.625%, 03/24/2032 (D) | | 1,895,000 | | | 1,689,721 |
| 4.000%, 03/24/2052 (D) | | 1,525,000 | | | 1,239,695 |
HCA, Inc.
4.625%, 03/15/2052 (D) | | 1,218,000 | | | 1,007,928 |
| Pfizer, Inc. | | | | | |
| 1.750%, 08/18/2031 | | 1,114,000 | | | 923,364 |
| 2.550%, 05/28/2040 | | 1,917,000 | | | 1,472,476 |
| Roche Holdings, Inc. | | | | | |
| 2.076%, 12/13/2031 (D) | | 2,024,000 | | | 1,704,693 |
| 2.607%, 12/13/2051 (D) | | 759,000 | | | 538,893 |
Shire Acquisitions Investments Ireland DAC
2.875%, 09/23/2023 | | 454,000 | | | 447,925 |
STERIS Irish FinCo Unlimited Company
3.750%, 03/15/2051 | | 864,000 | | | 666,285 |
| Takeda Pharmaceutical Company, Ltd. | | | | | |
| 2.050%, 03/31/2030 | | 1,482,000 | | | 1,238,986 |
| 3.025%, 07/09/2040 | | 617,000 | | | 478,035 |
| 3.175%, 07/09/2050 | | 373,000 | | | 273,713 |
| 4.400%, 11/26/2023 | | 1,047,000 | | | 1,048,663 |
| Thermo Fisher Scientific, Inc. | | | | | |
| 1.750%, 10/15/2028 | | 555,000 | | | 490,244 |
| 2.000%, 10/15/2031 | | 930,000 | | | 782,996 |
| 2.800%, 10/15/2041 | | 886,000 | | | 686,894 |
| UnitedHealth Group, Inc. | | | | | |
| 2.750%, 05/15/2040 | | 422,000 | | | 325,920 |
| 2.900%, 05/15/2050 | | 981,000 | | | 719,516 |
| 3.050%, 05/15/2041 | | 289,000 | | | 230,979 |
| 3.250%, 05/15/2051 | | 1,784,000 | | | 1,400,888 |
| 4.000%, 05/15/2029 | | 847,000 | | | 833,448 |
| 4.625%, 07/15/2035 | | 866,000 | | | 862,913 |
| | | | | | 49,033,576 |
| Industrials – 1.5% | | | | | |
Adani International Container Terminal Private, Ltd.
3.000%, 02/16/2031 (D) | | 480,000 | | | 387,143 |
AerCap Ireland Capital DAC
1.150%, 10/29/2023 | | 3,309,000 | | | 3,165,174 |
| Canadian National Railway Company | | | | | |
| 3.850%, 08/05/2032 | | 866,000 | | | 838,315 |
| 4.400%, 08/05/2052 | | 578,000 | | | 553,093 |
| Canadian Pacific Railway Company | | | | | |
| 1.350%, 12/02/2024 | | 1,368,000 | | | 1,284,885 |
| 1.750%, 12/02/2026 | | 263,000 | | | 238,539 |
Core Bond Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| CORPORATE BONDS (continued) | | | |
| Industrials (continued) | | | | | |
Canadian Pacific
Railway Company (continued) | | | | | |
| 2.450%, 12/02/2031 | $ | 222,000 | | $ | 189,655 |
| 3.000%, 12/02/2041 | | 270,000 | | | 212,663 |
Crowley Conro LLC
4.181%, 08/15/2043 | | 767,128 | | | 759,574 |
CSX Corp.
4.100%, 11/15/2032 | | 1,444,000 | | | 1,394,998 |
Delta Air Lines, Inc.
4.750%, 10/20/2028 (D) | | 3,250,000 | | | 3,104,841 |
| John Deere Capital Corp. | | | | | |
| 2.125%, 03/07/2025 | | 828,000 | | | 794,654 |
| 2.350%, 03/08/2027 | | 1,377,000 | | | 1,289,973 |
Northrop Grumman Corp.
4.400%, 05/01/2030 | | 1,968,000 | | | 1,961,553 |
| Parker-Hannifin Corp. | | | | | |
| 4.250%, 09/15/2027 | | 1,676,000 | | | 1,658,616 |
| 4.500%, 09/15/2029 | | 1,117,000 | | | 1,100,239 |
Quanta Services, Inc.
0.950%, 10/01/2024 | | 1,098,000 | | | 1,027,132 |
| The Boeing Company | | | | | |
| 2.196%, 02/04/2026 | | 2,088,000 | | | 1,910,681 |
| 3.250%, 02/01/2035 | | 676,000 | | | 520,076 |
| 3.750%, 02/01/2050 | | 1,206,000 | | | 865,493 |
| Union Pacific Corp. | | | | | |
| 2.800%, 02/14/2032 | | 1,377,000 | | | 1,224,151 |
| 3.375%, 02/14/2042 | | 660,000 | | | 554,745 |
| | | | | | 25,036,193 |
| Information technology – 2.4% | | | | | |
Advanced Micro Devices, Inc.
3.924%, 06/01/2032 | | 1,774,000 | | | 1,715,049 |
| Apple, Inc. | | | | | |
| 2.375%, 02/08/2041 | | 448,000 | | | 336,922 |
| 2.400%, 08/20/2050 | | 70,000 | | | 48,478 |
| 2.650%, 05/11/2050 to 02/08/2051 | | 1,225,000 | | | 896,676 |
| 2.800%, 02/08/2061 | | 390,000 | | | 275,456 |
| 3.250%, 08/08/2029 | | 2,314,000 | | | 2,212,413 |
| 3.350%, 08/08/2032 | | 1,444,000 | | | 1,365,405 |
| 3.950%, 08/08/2052 | | 1,158,000 | | | 1,068,607 |
| 4.100%, 08/08/2062 | | 866,000 | | | 795,238 |
| Broadcom, Inc. | | | | | |
| 2.450%, 02/15/2031 (D) | | 962,000 | | | 767,054 |
| 3.150%, 11/15/2025 | | 720,000 | | | 696,088 |
| 3.419%, 04/15/2033 (D) | | 2,618,000 | | | 2,159,385 |
| 3.469%, 04/15/2034 (D) | | 1,228,000 | | | 994,366 |
| 4.000%, 04/15/2029 (D) | | 1,105,000 | | | 1,023,542 |
| 4.150%, 11/15/2030 | | 651,000 | | | 593,779 |
| 4.150%, 04/15/2032 (D) | | 828,000 | | | 740,085 |
| 4.926%, 05/15/2037 (D) | | 879,000 | | | 783,047 |
| Dell International LLC | | | | | |
| 3.375%, 12/15/2041 (D) | | 1,368,000 | | | 958,346 |
| 3.450%, 12/15/2051 (D) | | 1,641,000 | | | 1,072,592 |
| 4.900%, 10/01/2026 | | 282,000 | | | 283,088 |
| 6.100%, 07/15/2027 | | 559,000 | | | 587,795 |
| Global Payments, Inc. | | | | | |
| 1.500%, 11/15/2024 | | 218,000 | | | 203,867 |
| 5.300%, 08/15/2029 | | 1,158,000 | | | 1,145,550 |
| 5.950%, 08/15/2052 | | 406,000 | | | 393,413 |
HP, Inc.
4.200%, 04/15/2032 | | 1,930,000 | | | 1,704,647 |
| Intel Corp. | | | | | |
| 2.800%, 08/12/2041 | | 1,438,000 | | | 1,067,032 |
| 4.900%, 08/05/2052 | | 1,619,000 | | | 1,579,896 |
| 5.050%, 08/05/2062 | | 577,000 | | | 556,645 |
| The accompanying notes are an integral part of the financial statements. | 27 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
Core Bond Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| CORPORATE BONDS (continued) | | | |
| Information technology (continued) | | | | | |
| KLA Corp. | | | | | |
| 3.300%, 03/01/2050 | $ | 1,317,000 | | $ | 1,029,252 |
| 4.950%, 07/15/2052 | | 511,000 | | | 513,422 |
| NXP BV | | | | | |
| 2.650%, 02/15/2032 | | 1,136,000 | | | 913,379 |
| 3.250%, 05/11/2041 | | 603,000 | | | 438,158 |
| 3.400%, 05/01/2030 | | 765,000 | | | 677,277 |
| 4.400%, 06/01/2027 | | 667,000 | | | 649,986 |
| VMware, Inc. | | | | | |
| 0.600%, 08/15/2023 | | 2,695,000 | | | 2,605,781 |
| 1.000%, 08/15/2024 | | 1,914,000 | | | 1,793,470 |
| 1.400%, 08/15/2026 | | 1,923,000 | | | 1,695,436 |
| 1.800%, 08/15/2028 | | 333,000 | | | 276,882 |
| 4.700%, 05/15/2030 | | 1,105,000 | | | 1,046,970 |
Xilinx, Inc.
2.375%, 06/01/2030 | | 470,000 | | | 409,753 |
| | | | | | 38,074,227 |
| Materials – 0.5% | | | | | |
| Anglo American Capital PLC | | | | | |
| 3.875%, 03/16/2029 (D) | | 1,480,000 | | | 1,340,211 |
| 4.750%, 03/16/2052 (D) | | 1,154,000 | | | 973,190 |
Freeport-McMoRan, Inc.
5.250%, 09/01/2029 | | 2,523,000 | | | 2,430,747 |
| Glencore Finance Canada, Ltd. | | | | | |
| 6.000%, 11/15/2041 (D) | | 70,000 | | | 67,107 |
| 6.900%, 11/15/2037 (D) | | 635,000 | | | 681,288 |
Rohm and Haas Company
7.850%, 07/15/2029 | | 672,000 | | | 782,186 |
| The Dow Chemical Company | | | | | |
| 3.600%, 11/15/2050 | | 559,000 | | | 427,165 |
| 7.375%, 11/01/2029 | | 740,000 | | | 849,507 |
Westlake Corp.
3.600%, 08/15/2026 | | 603,000 | | | 583,746 |
| | | | | | 8,135,147 |
| Real estate – 1.6% | | | | | |
| Agree LP | | | | | |
| 2.000%, 06/15/2028 | | 1,152,000 | | | 969,924 |
| 2.600%, 06/15/2033 | | 260,000 | | | 203,127 |
| 4.800%, 10/01/2032 | | 578,000 | | | 554,642 |
| American Homes 4 Rent LP | | | | | |
| 3.625%, 04/15/2032 | | 1,060,000 | | | 925,158 |
| 4.300%, 04/15/2052 | | 473,000 | | | 381,242 |
| American Tower Corp. | | | | | |
| 2.700%, 04/15/2031 | | 438,000 | | | 362,405 |
| 3.125%, 01/15/2027 | | 578,000 | | | 538,280 |
| 3.650%, 03/15/2027 | | 816,000 | | | 776,304 |
| Brixmor Operating Partnership LP | | | | | |
| 2.250%, 04/01/2028 | | 371,000 | | | 313,406 |
| 2.500%, 08/16/2031 | | 641,000 | | | 496,056 |
| Crown Castle, Inc. | | | | | |
| 1.050%, 07/15/2026 | | 1,650,000 | | | 1,445,153 |
| 2.900%, 03/15/2027 to 04/01/2041 | | 2,082,000 | | | 1,871,237 |
| 3.300%, 07/01/2030 | | 952,000 | | | 843,894 |
| 4.000%, 03/01/2027 | | 276,000 | | | 267,903 |
| Essex Portfolio LP | | | | | |
| 1.700%, 03/01/2028 | | 1,387,000 | | | 1,179,718 |
| 2.550%, 06/15/2031 | | 546,000 | | | 453,913 |
| Extra Space Storage LP | | | | | |
| 2.350%, 03/15/2032 | | 473,000 | | | 371,422 |
| 3.900%, 04/01/2029 | | 530,000 | | | 491,956 |
Federal Realty Investment Trust
3.950%, 01/15/2024 | | 733,000 | | | 729,401 |
GLP Capital LP
5.300%, 01/15/2029 | | 533,000 | | | 514,564 |
Core Bond Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| CORPORATE BONDS (continued) | | | |
| Real estate (continued) | | | | | |
Invitation Homes Operating Partnership LP
4.150%, 04/15/2032 | $ | 1,060,000 | | $ | 952,894 |
Kimco Realty Corp.
4.600%, 02/01/2033 | | 866,000 | | | 837,489 |
| Mid-America Apartments LP | | | | | |
| 3.950%, 03/15/2029 | | 530,000 | | | 505,811 |
| 4.000%, 11/15/2025 | | 651,000 | | | 637,697 |
| 4.300%, 10/15/2023 | | 543,000 | | | 542,993 |
| Realty Income Corp. | | | | | |
| 2.200%, 06/15/2028 | | 568,000 | | | 498,510 |
| 2.850%, 12/15/2032 | | 768,000 | | | 658,503 |
| 3.400%, 01/15/2028 | | 562,000 | | | 527,213 |
Regency Centers LP
2.950%, 09/15/2029 | | 1,149,000 | | | 1,003,110 |
Rexford Industrial Realty LP
2.150%, 09/01/2031 | | 587,000 | | | 468,215 |
Spirit Realty LP
3.400%, 01/15/2030 | | 378,000 | | | 325,146 |
| STORE Capital Corp. | | | | | |
| 2.700%, 12/01/2031 | | 368,000 | | | 292,232 |
| 2.750%, 11/18/2030 | | 936,000 | | | 759,748 |
| 4.500%, 03/15/2028 | | 2,000,000 | | | 1,919,863 |
| 4.625%, 03/15/2029 | | 676,000 | | | 653,422 |
| Sun Communities Operating LP | | | | | |
| 2.300%, 11/01/2028 | | 530,000 | | | 447,494 |
| 4.200%, 04/15/2032 | | 1,060,000 | | | 949,372 |
| | | | | | 25,669,417 |
| Utilities – 2.1% | | | | | |
American Transmission Systems, Inc.
2.650%, 01/15/2032 (D) | | 381,000 | | | 320,598 |
Baltimore Gas and Electric Company
2.250%, 06/15/2031 | | 822,000 | | | 696,053 |
CenterPoint Energy Houston Electric LLC
3.600%, 03/01/2052 | | 606,000 | | | 511,567 |
| Consumers Energy Company | | | | | |
| 2.500%, 05/01/2060 | | 470,000 | | | 298,318 |
| 2.650%, 08/15/2052 | | 368,000 | | | 257,731 |
| DTE Electric Company | | | | | |
| 2.950%, 03/01/2050 | | 959,000 | | | 729,072 |
| 3.650%, 03/01/2052 | | 438,000 | | | 373,342 |
DTE Energy Company
1.050%, 06/01/2025 | | 491,000 | | | 449,319 |
| Duke Energy Carolinas LLC | | | | | |
| 2.550%, 04/15/2031 | | 559,000 | | | 489,280 |
| 2.850%, 03/15/2032 | | 1,019,000 | | | 903,304 |
| 3.550%, 03/15/2052 | | 743,000 | | | 612,116 |
| Duke Energy Corp. | | | | | |
| 2.550%, 06/15/2031 | | 657,000 | | | 548,234 |
| 3.500%, 06/15/2051 | | 168,000 | | | 127,485 |
| 3.750%, 09/01/2046 | | 168,000 | | | 131,328 |
| 4.300%, 03/15/2028 | | 1,736,000 | | | 1,699,543 |
| 4.500%, 08/15/2032 | | 1,562,000 | | | 1,506,339 |
| 5.000%, 08/15/2052 | | 579,000 | | | 549,752 |
Duke Energy Florida LLC
2.400%, 12/15/2031 | | 819,000 | | | 697,331 |
Duke Energy Progress LLC
2.500%, 08/15/2050 | | 828,000 | | | 567,070 |
Entergy Arkansas LLC
2.650%, 06/15/2051 | | 740,000 | | | 504,875 |
| Eversource Energy | | | | | |
| 1.400%, 08/15/2026 | | 467,000 | | | 415,375 |
| 3.375%, 03/01/2032 | | 1,105,000 | | | 992,794 |
| 4.600%, 07/01/2027 | | 1,425,000 | | | 1,429,160 |
Israel Electric Corp., Ltd.
3.750%, 02/22/2032 (D) | | 490,000 | | | 453,133 |
| The accompanying notes are an integral part of the financial statements. | 28 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
Core Bond Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| CORPORATE BONDS (continued) | | | |
| Utilities (continued) | | | | | |
ITC Holdings Corp.
2.700%, 11/15/2022 | $ | 1,114,000 | | $ | 1,112,131 |
Jersey Central Power & Light Company
2.750%, 03/01/2032 (D) | | 901,000 | | | 761,258 |
Metropolitan Edison Company
4.300%, 01/15/2029 (D) | | 965,000 | | | 942,224 |
MidAmerican Energy Company
2.700%, 08/01/2052 | | 711,000 | | | 504,940 |
| Mississippi Power Company | | | | | |
| 3.100%, 07/30/2051 | | 984,000 | | | 699,715 |
| 3.950%, 03/30/2028 | | 984,000 | | | 946,750 |
| 4.250%, 03/15/2042 | | 378,000 | | | 331,611 |
NextEra Energy Capital Holdings, Inc.
4.625%, 07/15/2027 | | 857,000 | | | 860,514 |
Northern States Power Company
3.200%, 04/01/2052 | | 555,000 | | | 433,624 |
| NSTAR Electric Company | | | | | |
| 3.100%, 06/01/2051 | | 505,000 | | | 381,993 |
| 4.550%, 06/01/2052 | | 667,000 | | | 652,605 |
| Pacific Gas & Electric Company | | | | | |
| 2.100%, 08/01/2027 | | 438,000 | | | 370,421 |
| 3.950%, 12/01/2047 | | 1,238,000 | | | 845,562 |
| 4.200%, 06/01/2041 | | 476,000 | | | 353,853 |
| 4.500%, 07/01/2040 | | 282,000 | | | 219,514 |
| 4.750%, 02/15/2044 | | 276,000 | | | 212,848 |
| 4.950%, 07/01/2050 | | 1,108,000 | | | 884,276 |
PECO Energy Company
2.850%, 09/15/2051 | | 990,000 | | | 720,605 |
Pennsylvania Electric Company
3.250%, 03/15/2028 (D) | | 800,000 | | | 740,300 |
| Public Service Company of Oklahoma | | | | | |
| 2.200%, 08/15/2031 | | 549,000 | | | 453,597 |
| 3.150%, 08/15/2051 | | 555,000 | | | 402,592 |
| Public Service Electric & Gas Company | | | | | |
| 1.900%, 08/15/2031 | | 1,101,000 | | | 916,270 |
| 2.050%, 08/01/2050 | | 229,000 | | | 141,400 |
| 2.700%, 05/01/2050 | | 448,000 | | | 319,824 |
| Public Service Enterprise Group, Inc. | | | | | |
| 1.600%, 08/15/2030 | | 632,000 | | | 502,948 |
| 2.450%, 11/15/2031 | | 711,000 | | | 593,611 |
Southern California Edison Company
4.125%, 03/01/2048 | | 619,000 | | | 514,717 |
Southern Company Gas Capital Corp.
1.750%, 01/15/2031 | | 866,000 | | | 687,775 |
The AES Corp.
1.375%, 01/15/2026 | | 622,000 | | | 551,841 |
Trans-Allegheny Interstate Line Company
3.850%, 06/01/2025 (D) | | 387,000 | | | 378,295 |
| Virginia Electric and Power Company | | | | | |
| 2.950%, 11/15/2051 | | 822,000 | | | 609,204 |
| 4.625%, 05/15/2052 | | 559,000 | | | 544,472 |
Xcel Energy, Inc.
4.600%, 06/01/2032 | | 832,000 | | | 825,795 |
| | | | | | 34,680,204 |
| TOTAL CORPORATE BONDS (Cost $471,077,604) | | | $ | 425,952,304 |
| MUNICIPAL BONDS – 0.3% | | | | | |
Board of Regents of the University of Texas
2.439%, 08/15/2049 | | 600,000 | | | 424,176 |
County of Clark Department of Aviation (Nevada)
6.820%, 07/01/2045 | | 1,115,000 | | | 1,413,435 |
Core Bond Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| MUNICIPAL BONDS (continued) | | | | | |
North Texas Tollway Authority
6.718%, 01/01/2049 | $ | 459,000 | | $ | 590,347 |
Port Authority of New York & New Jersey
4.458%, 10/01/2062 | | 1,010,000 | | | 976,273 |
The Ohio State University
4.800%, 06/01/2111 | | 600,000 | | | 559,552 |
| TOTAL MUNICIPAL BONDS (Cost $4,182,683) | | $ | 3,963,783 |
| COLLATERALIZED MORTGAGE OBLIGATIONS – 9.6% | | | |
| Commercial and residential – 4.1% | | | | | |
3650R Commercial Mortgage Trust
Series 2021-PF1, Class A5
2.522%, 11/15/2054 | | 816,000 | | | 702,165 |
| Angel Oak Mortgage Trust LLC | | | | | |
Series 2019-2, Class A1,
3.628%, 03/25/2049 (D)(E) | | 15,595 | | | 15,536 |
Series 2020-2, Class A1A,
2.531%, 01/26/2065 (D)(E) | | 253,386 | | | 242,314 |
Series 2020-5, Class A1,
1.373%, 05/25/2065 (D)(E) | | 274,563 | | | 259,283 |
Series 2021-6, Class A1,
1.458%, 09/25/2066 (D)(E) | | 920,167 | | | 782,479 |
Barclays Commercial Mortgage Trust
Series 2019-C3, Class A3
3.319%, 05/15/2052 | | 188,000 | | | 175,176 |
| BBCMS Mortgage Trust | | | | | |
Series 2018-C2, Class ASB,
4.236%, 12/15/2051 | | 375,000 | | | 370,527 |
Series 2022-C16, Class A5,
4.600%, 06/15/2055 (E) | | 473,000 | | | 477,720 |
BBCMS Trust
Series 2022-C17, Class A5
4.441%, 09/15/2055 (A) | | 812,000 | | | 811,194 |
| Benchmark Mortgage Trust | | | | | |
Series 2021-B31, Class A5,
2.669%, 12/15/2054 | | 262,000 | | | 226,672 |
Series 2022-B35, Class A5,
4.594%, 05/15/2055 (E) | | 1,057,000 | | | 1,059,865 |
Series 2022-B36, Class A5,
4.470%, 07/15/2055 (E) | | 540,000 | | | 539,018 |
BMO Mortgage Trust
Series 2022-C2, Class A5
4.974%, 07/15/2054 (E) | | 514,000 | | | 531,812 |
Bunker Hill Loan Depositary Trust
Series 2019-2, Class A1
2.879%, 07/25/2049 (D) | | 802,746 | | | 762,666 |
| BX Commercial Mortgage Trust | | | | | |
Series 2021-VOLT, Class A (1 month LIBOR + 0.700%),
3.091%, 09/15/2036 (B)(D) | | 3,519,000 | | | 3,399,400 |
Series 2021-XL2, Class A (1 month LIBOR + 0.689%),
3.080%, 10/15/2038 (B)(D) | | 1,631,692 | | | 1,571,483 |
CFCRE Commercial Mortgage Trust
Series 2017-C8, Class ASB
3.367%, 06/15/2050 | | 500,974 | | | 488,384 |
Citigroup Commercial Mortgage Trust
Series 2022-GC48, Class A5
4.743%, 05/15/2054 (E) | | 1,054,000 | | | 1,072,078 |
| COLT Mortgage Loan Trust | | | | | |
Series 2021-2, Class A1,
0.924%, 08/25/2066 (D)(E) | | 1,184,632 | | | 1,009,170 |
Series 2021-4, Class A1,
1.397%, 10/25/2066 (D)(E) | | 1,287,859 | | | 1,114,637 |
| The accompanying notes are an integral part of the financial statements. | 29 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
Core Bond Fund (continued)
| | | Shares or
Principal
Amount | | Value |
COLLATERALIZED MORTGAGE
OBLIGATIONS (continued) | | | |
| Commercial and residential (continued) | | | | | |
Commercial Mortgage Trust (Cantor
Fitzgerald/Deutsche Bank AG) | | | | | |
Series 2012-CR3, Class A3,
2.822%, 10/15/2045 | $ | 139,431 | | $ | 139,175 |
Series 2013-CR10, Class A4,
4.210%, 08/10/2046 (E) | | 45,000 | | | 44,849 |
Series 2013-CR11, Class A4,
4.258%, 08/10/2050 | | 3,182,000 | | | 3,169,788 |
Series 2013-CR6, Class A4,
3.101%, 03/10/2046 | | 2,628,000 | | | 2,619,547 |
Series 2014-UBS4, Class A4,
3.420%, 08/10/2047 | | 1,279,000 | | | 1,256,364 |
Series 2015-LC19, Class A3,
2.922%, 02/10/2048 | | 1,449,744 | | | 1,402,661 |
Series 2015-LC23, Class A3,
3.521%, 10/10/2048 | | 649,000 | | | 629,671 |
| CSAIL Commercial Mortgage Trust | | | | | |
Series 2019-C16, Class A2,
3.067%, 06/15/2052 | | 615,000 | | | 562,359 |
Series 2021-C20, Class A3,
2.805%, 03/15/2054 | | 408,000 | | | 358,615 |
EQUS Mortgage Trust
Series 2021-EQAZ, Class A (1 month LIBOR + 0.755%)
3.146%, 10/15/2038 (B)(D) | | 1,388,000 | | | 1,342,891 |
| GS Mortgage Securities Trust | | | | | |
Series 2013-GC14, Class A5,
4.243%, 08/10/2046 | | 718,000 | | | 715,834 |
Series 2014-GC18, Class A4,
4.074%, 01/10/2047 | | 1,530,000 | | | 1,516,062 |
Series 2020-GC47, Class A5,
2.377%, 05/12/2053 | | 523,000 | | | 452,858 |
Series 2020-GSA2, Class A4,
1.721%, 12/12/2053 | | 1,786,000 | | | 1,461,627 |
Impact Funding Affordable Multifamily Housing Mortgage Loan Trust
Series 2010-1, Class A1
5.314%, 01/25/2051 (D) | | 1,634,447 | | | 1,590,599 |
JPMBB Commercial Mortgage
Securities Trust | | | | | |
Series 2013-C12, Class A5,
3.664%, 07/15/2045 | | 1,055,000 | | | 1,047,069 |
Series 2013-C17, Class A4,
4.199%, 01/15/2047 | | 353,000 | | | 350,970 |
Series 2014-C23, Class A4,
3.670%, 09/15/2047 | | 544,163 | | | 533,391 |
Series 2015-C28, Class A3,
2.912%, 10/15/2048 | | 2,793,117 | | | 2,686,010 |
Series 2015-C30, Class A5,
3.822%, 07/15/2048 | | 981,000 | | | 959,704 |
JPMorgan Chase Commercial Mortgage
Securities Trust | | | | | |
Series 2013-C16, Class A4,
4.166%, 12/15/2046 | | 1,578,000 | | | 1,562,141 |
Series 2016-JP4, Class A3,
3.393%, 12/15/2049 | | 346,000 | | | 330,497 |
Med Trust
Series 2021-MDLN, Class A (1 month LIBOR + 0.950%)
3.342%, 11/15/2038 (B)(D) | | 2,236,000 | | | 2,162,128 |
| Mello Warehouse Securitization Trust | | | | | |
Series 2021-1, Class A (1 month LIBOR + 0.700%),
2.324%, 02/25/2055 (B)(D) | | 820,000 | | | 801,039 |
Core Bond Fund (continued)
| | | Shares or
Principal
Amount | | Value |
COLLATERALIZED MORTGAGE
OBLIGATIONS (continued) | | | |
| Commercial and residential (continued) | | | | | |
Mello Warehouse
Securitization Trust (continued) | | | | | |
Series 2021-2, Class A (1 month LIBOR + 0.750%),
3.194%, 04/25/2055 (B)(D) | $ | 2,244,000 | | $ | 2,191,899 |
MFA Trust
Series 2021-NQM2, Class A1
1.029%, 11/25/2064 (D)(E) | | 548,392 | | | 485,763 |
| Morgan Stanley Capital I Trust | | | | | |
Series 2020-HR8, Class A3,
1.790%, 07/15/2053 | | 982,000 | | | 812,439 |
Series 2022-L8, Class A5,
3.922%, 04/15/2055 (E) | | 527,000 | | | 498,929 |
New Residential Mortgage Loan Trust
Series 2019-NQM4, Class A1
2.492%, 09/25/2059 (D)(E) | | 412,117 | | | 395,528 |
NewRez Warehouse Securitization Trust
Series 2021-1, Class A (1 month LIBOR + 0.750%)
3.194%, 05/25/2055 (B)(D) | | 3,312,000 | | | 3,263,479 |
| Starwood Mortgage Residential Trust | | | | | |
Series 2020-1, Class A1,
2.275%, 02/25/2050 (D)(E) | | 159,066 | | | 158,219 |
Series 2020-3, Class A1,
1.486%, 04/25/2065 (D)(E) | | 673,487 | | | 651,901 |
Series 2020-INV1, Class A1,
1.027%, 11/25/2055 (D)(E) | | 623,256 | | | 577,012 |
Series 2021-1, Class A1,
1.219%, 05/25/2065 (D)(E) | | 837,638 | | | 781,740 |
Series 2021-4, Class A1,
1.162%, 08/25/2056 (D)(E) | | 1,224,530 | | | 1,081,333 |
| Verus Securitization Trust | | | | | |
Series 2019-INV2, Class A1,
2.913%, 07/25/2059 (D)(E) | | 435,318 | | | 432,917 |
Series 2019-INV3, Class A1,
2.692%, 11/25/2059 (D)(E) | | 703,236 | | | 683,357 |
Series 2020-1, Class A1 (2.417% to 1-25-24, then 3.417% thereafter),
2.417%, 01/25/2060 (D) | | 163,718 | | | 159,443 |
Series 2020-2, Class A1,
2.226%, 05/25/2060 (D)(E) | | 420,247 | | | 413,632 |
Series 2020-5, Class A1 (1.218% to 10-25-24, then 2.218% thereafter),
1.218%, 05/25/2065 (D) | | 312,916 | | | 295,110 |
Series 2021-1, Class A1,
0.815%, 01/25/2066 (D)(E) | | 1,039,682 | | | 931,184 |
Series 2021-3, Class A1,
1.046%, 06/25/2066 (D)(E) | | 912,394 | | | 808,213 |
Series 2021-4, Class A1,
0.938%, 07/25/2066 (D)(E) | | 1,100,484 | | | 929,301 |
Series 2021-5, Class A1,
1.013%, 09/25/2066 (D)(E) | | 3,897,552 | | | 3,411,784 |
Series 2021-7, Class A1,
1.829%, 10/25/2066 (D)(E) | | 1,625,219 | | | 1,443,808 |
Series 2021-8, Class A1,
1.824%, 11/25/2066 (D)(E) | | 1,155,793 | | | 1,026,439 |
Series 2021-R1, Class A1,
0.820%, 10/25/2063 (D)(E) | | 906,322 | | | 849,120 |
Series 2021-R3, Class A1,
1.020%, 04/25/2064 (D)(E) | | 593,875 | | | 561,985 |
Visio Trust
Series 2020-1R, Class A1
1.312%, 11/25/2055 (D) | | 701,502 | | | 674,240 |
| | | | | | 66,826,203 |
| The accompanying notes are an integral part of the financial statements. | 30 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
Core Bond Fund (continued)
| | | Shares or
Principal
Amount | | Value |
COLLATERALIZED MORTGAGE
OBLIGATIONS (continued) | | | |
| U.S. Government Agency – 5.5% | | | | | |
| Federal Home Loan Mortgage Corp. | | | | | |
Series 264, Class 30,
3.000%, 07/15/2042 | $ | 1,788,773 | | $ | 1,673,335 |
Series 4205, Class PA,
1.750%, 05/15/2043 | | 894,275 | | | 812,343 |
Series 4426, Class QC,
1.750%, 07/15/2037 | | 1,395,421 | | | 1,311,398 |
Series 4742, Class PA,
3.000%, 10/15/2047 | | 1,259,517 | | | 1,198,863 |
Series 4763, Class CA,
3.000%, 09/15/2038 | | 288,499 | | | 276,032 |
Series 4767, Class KA,
3.000%, 03/15/2048 | | 474,542 | | | 453,863 |
Series 4846, Class PF (1 month LIBOR + 0.350%),
2.741%, 12/15/2048 (B) | | 223,030 | | | 221,131 |
Series 4880, Class DA,
3.000%, 05/15/2050 | | 1,859,601 | | | 1,777,950 |
Series 5091, Class AB,
1.500%, 03/25/2051 | | 2,682,269 | | | 2,327,642 |
Series 5119, Class AB,
1.500%, 08/25/2049 | | 597,614 | | | 518,621 |
Series 5178, Class TP,
2.500%, 04/25/2049 | | 1,597,185 | | | 1,458,609 |
Series 5182, Class M,
2.500%, 05/25/2049 | | 992,687 | | | 913,838 |
Series 5201, Class CA,
2.500%, 07/25/2048 | | 1,434,358 | | | 1,331,267 |
Series 5202, Class LA,
2.500%, 05/25/2049 | | 1,467,173 | | | 1,344,570 |
Series 5203, Class G,
2.500%, 11/25/2048 | | 657,964 | | | 607,488 |
Series K144, Class A2,
2.450%, 04/25/2032 | | 1,436,000 | | | 1,278,951 |
Series K145, Class A2,
2.580%, 06/25/2055 | | 1,436,000 | | | 1,293,096 |
Series K146, Class A2,
2.920%, 06/25/2032 | | 2,696,000 | | | 2,500,685 |
Series K147, Class A2,
3.000%, 06/25/2032 (E) | | 2,696,000 | | | 2,517,801 |
Series KG07, Class A2,
3.123%, 08/25/2032 (E) | | 1,436,000 | | | 1,350,999 |
| Federal National Mortgage Association | | | | | |
Series 1998-61, Class PL,
6.000%, 11/25/2028 | | 123,839 | | | 128,786 |
Series 2012-151, Class NX,
1.500%, 01/25/2043 | | 841,405 | | | 757,209 |
Series 2013-11, Class AP,
1.500%, 01/25/2043 | | 3,512,061 | | | 3,226,718 |
Series 2013-43, Class BP,
1.750%, 05/25/2043 | | 1,141,629 | | | 1,037,377 |
Series 2014-73, Class MA,
2.500%, 11/25/2044 | | 672,014 | | | 627,969 |
Series 2015-84, Class PA,
1.700%, 08/25/2033 | | 3,834,887 | | | 3,590,168 |
Series 2016-48, Class MA,
2.000%, 06/25/2038 | | 3,573,725 | | | 3,331,808 |
Series 2016-57, Class PC,
1.750%, 06/25/2046 | | 6,822,425 | | | 6,055,712 |
Series 2017-13, Class PA,
3.000%, 08/25/2046 | | 868,870 | | | 834,061 |
Series 2017-M7, Class A2,
2.961%, 02/25/2027 (E) | | 529,534 | | | 509,426 |
Core Bond Fund (continued)
| | | Shares or
Principal
Amount | | Value |
COLLATERALIZED MORTGAGE
OBLIGATIONS (continued) | | | |
| U.S. Government Agency (continued) | | | | | |
Federal National
Mortgage Association (continued) | | | | | |
Series 2018-14, Class KC,
3.000%, 03/25/2048 | $ | 1,349,261 | | $ | 1,290,221 |
Series 2018-15, Class AB,
3.000%, 03/25/2048 | | 388,983 | | | 374,757 |
Series 2018-8, Class KL,
2.500%, 03/25/2047 | | 910,223 | | | 838,559 |
Series 2019-25, Class PA,
3.000%, 05/25/2048 | | 2,592,788 | | | 2,502,979 |
Series 2019-8, Class GA,
3.000%, 03/25/2049 | | 3,772,388 | | | 3,610,398 |
Series 2020-45, Class JL,
3.000%, 07/25/2040 | | 2,435,997 | | | 2,299,676 |
Series 2020-48, Class AB,
2.000%, 07/25/2050 | | 1,330,394 | | | 1,211,535 |
Series 2020-48, Class DA,
2.000%, 07/25/2050 | | 4,002,026 | | | 3,585,990 |
Series 2021-27, Class EC,
1.500%, 05/25/2051 | | 4,698,935 | | | 4,080,919 |
Series 2021-78, Class ND,
1.500%, 11/25/2051 | | 1,911,197 | | | 1,656,773 |
Series 2021-78, Class PA,
2.500%, 11/25/2051 | | 1,110,478 | | | 1,008,012 |
Series 2022-11, Class A,
2.500%, 07/25/2047 | | 3,068,827 | | | 2,879,743 |
Series 2022-28, Class CA,
2.000%, 01/25/2048 | | 1,208,692 | | | 1,115,397 |
Series 414, Class A35,
3.500%, 10/25/2042 | | 927,396 | | | 904,109 |
Government National
Mortgage Association | | | | | |
Series 2012-141, Class WA,
4.527%, 11/16/2041 (E) | | 297,749 | | | 301,392 |
Series 2017-167, Class BQ,
2.500%, 08/20/2044 | | 873,961 | | | 833,778 |
Series 2018-11, Class PC,
2.750%, 12/20/2047 | | 1,348,883 | | | 1,282,398 |
Series 2019-132, Class NA,
3.500%, 09/20/2049 | | 1,292,037 | | | 1,274,660 |
Series 2019-31, Class JC,
3.500%, 03/20/2049 | | 794,437 | | | 777,461 |
Series 2021-23, Class MG,
1.500%, 02/20/2051 | | 3,795,585 | | | 3,356,514 |
Series 2022-107, Class C,
2.500%, 06/20/2051 | | 4,075,806 | | | 3,672,748 |
Series 2022-31, Class GH,
2.500%, 12/20/2049 | | 3,257,297 | | | 3,042,735 |
Series 2022-84, Class A,
2.500%, 01/20/2052 | | 1,197,279 | | | 1,073,895 |
| | | | | | 88,242,365 |
| TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $165,664,121) | | $ | 155,068,568 |
| ASSET BACKED SECURITIES – 10.3% | | | |
Ally Auto Receivables Trust
Series 2022-1, Class A3
3.310%, 11/15/2026 | | 1,404,000 | | | 1,390,602 |
American Express Credit Account
Master Trust | | | | | |
Series 2022-2, Class A
3.390%, 05/17/2027 | | 4,811,000 | | | 4,753,412 |
Series 2022-3, Class A
3.750%, 08/16/2027 | | 5,515,000 | | | 5,490,644 |
| The accompanying notes are an integral part of the financial statements. | 31 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
Core Bond Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| ASSET BACKED SECURITIES (continued) | | | |
| AmeriCredit Automobile Receivables Trust | | | | | |
Series 2022-1, Class A3
2.450%, 11/18/2026 | $ | 459,000 | | $ | 447,690 |
Series 2022-2, Class A3
4.380%, 04/18/2028 | | 1,232,000 | | | 1,231,933 |
Avis Budget Rental Car Funding
AESOP LLC | | | | | |
Series 2019-3A, Class A
2.360%, 03/20/2026 (D) | | 1,054,000 | | | 1,002,744 |
Series 2020-1A, Class A
2.330%, 08/20/2026 (D) | | 869,000 | | | 818,276 |
Series 2021-2A, Class A
1.660%, 02/20/2028 (D) | | 2,483,000 | | | 2,212,890 |
Series 2022-3A, Class A
4.620%, 02/20/2027 (D) | | 2,228,000 | | | 2,216,061 |
Series 2022-4A, Class A
4.770%, 02/20/2029 (D) | | 1,104,000 | | | 1,099,966 |
BA Credit Card Trust
Series 2022-A1, Class A1
3.530%, 11/15/2027 | | 2,338,000 | | | 2,316,572 |
| Capital One Multi-Asset Execution Trust | | | | | |
Series 2021-A2, Class A2
1.390%, 07/15/2030 | | 1,746,000 | | | 1,511,719 |
Series 2022-A2, Class A
3.490%, 05/15/2027 | | 1,749,000 | | | 1,732,485 |
Chase Auto Owner Trust
Series 2022-AA, Class A4
3.990%, 03/27/2028 (D) | | 814,000 | | | 806,169 |
| College Ave Student Loans LLC | | | | | |
Series 2017-A, Class A1 (1 month LIBOR + 1.650%)
4.094%, 11/26/2046 (B)(D) | | 541,845 | | | 536,645 |
Series 2018-A, Class A2
4.130%, 12/26/2047 (D) | | 688,227 | | | 660,348 |
Series 2019-A, Class A2
3.280%, 12/28/2048 (D) | | 756,195 | | | 721,832 |
Series 2021-A, Class A2
1.600%, 07/25/2051 (D) | | 925,579 | | | 794,228 |
Discover Card Execution Note Trust
Series 2022-A3, Class A3
3.560%, 07/15/2027 | | 6,529,000 | | | 6,465,671 |
| Ford Credit Auto Lease Trust | | | | | |
Series 2022-A, Class A3
3.230%, 05/15/2025 | | 2,794,000 | | | 2,764,593 |
Series 2022-A, Class A4
3.370%, 07/15/2025 | | 1,074,000 | | | 1,058,500 |
| Ford Credit Auto Owner Trust | | | | | |
Series 2020-2, Class A
1.060%, 04/15/2033 (D) | | 801,000 | | | 725,997 |
Series 2022-1, Class A
3.880%, 11/15/2034 (D) | | 3,760,000 | | | 3,711,910 |
Series 2022-A, Class A3
1.290%, 06/15/2026 | | 747,000 | | | 715,839 |
| GM Financial Automobile Leasing Trust | | | | | |
Series 2022-2, Class A3
3.420%, 06/20/2025 | | 1,129,000 | | | 1,120,620 |
Series 2022-2, Class A4
3.540%, 05/20/2026 | | 1,237,000 | | | 1,221,232 |
Series 2022-3, Class A4
4.110%, 08/20/2026 | | 1,705,000 | | | 1,700,517 |
GM Financial Consumer Automobile
Receivables Trust | | | | | |
Series 2022-2, Class A3
3.100%, 02/16/2027 | | 3,183,000 | | | 3,134,281 |
Series 2022-2, Class A4
3.250%, 04/17/2028 | | 1,698,000 | | | 1,662,548 |
Core Bond Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| ASSET BACKED SECURITIES (continued) | | | |
GM Financial Consumer Automobile
Receivables Trust (continued) | | | | | |
Series 2022-3, Class A4
3.710%, 12/16/2027 | $ | 1,024,000 | | $ | 1,015,508 |
| Hertz Vehicle Financing LLC | | | | | |
Series 2021-2A, Class A
1.680%, 12/27/2027 (D) | | 1,441,000 | | | 1,284,203 |
Series 2022-1A, Class A
1.990%, 06/25/2026 (D) | | 2,942,000 | | | 2,734,750 |
Series 2022-2A, Class A
2.330%, 06/26/2028 (D) | | 2,613,000 | | | 2,343,231 |
Series 2022-4A, Class A
3.730%, 09/25/2026 (D) | | 1,680,000 | | | 1,630,259 |
Series 2022-5A, Class A
3.890%, 09/25/2028 (D) | | 2,644,000 | | | 2,518,518 |
Honda Auto Receivables Owner Trust
Series 2022-2, Class A4
3.760%, 12/18/2028 | | 778,000 | | | 772,470 |
| Hyundai Auto Receivables Trust | | | | | |
Series 2021-C, Class A4
1.030%, 12/15/2027 | | 963,000 | | | 887,307 |
Series 2022-A, Class A3
2.220%, 10/15/2026 | | 1,779,000 | | | 1,716,961 |
Series 2022-A, Class A4
2.350%, 04/17/2028 | | 606,000 | | | 573,346 |
| Navient Private Education Loan Trust | | | | | |
Series 2014-AA, Class A3 (1 month LIBOR + 1.600%)
3.991%, 10/15/2031 (B)(D) | | 739,000 | | | 739,033 |
Series 2016-AA, Class A2B (1 month LIBOR + 2.150%)
4.541%, 12/15/2045 (B)(D) | | 212,138 | | | 214,694 |
Series 2020-IA, Class A1A
1.330%, 04/15/2069 (D) | | 2,577,612 | | | 2,322,292 |
| Navient Private Education Refi Loan Trust | | | | | |
Series 2018-A, Class A2
3.190%, 02/18/2042 (D) | | 334,964 | | | 334,235 |
Series 2018-DA, Class A2A
4.000%, 12/15/2059 (D) | | 856,939 | | | 840,480 |
Series 2019-CA, Class A2
3.130%, 02/15/2068 (D) | | 1,630,407 | | | 1,579,043 |
Series 2019-D, Class A2A
3.010%, 12/15/2059 (D) | | 2,259,366 | | | 2,130,206 |
Series 2019-FA, Class A2
2.600%, 08/15/2068 (D) | | 1,189,265 | | | 1,124,558 |
Series 2020-BA, Class A2
2.120%, 01/15/2069 (D) | | 557,764 | | | 520,026 |
Series 2020-EA, Class A
1.690%, 05/15/2069 (D) | | 160,903 | | | 147,536 |
Series 2020-GA, Class A
1.170%, 09/16/2069 (D) | | 57,454 | | | 52,617 |
Series 2020-HA, Class A
1.310%, 01/15/2069 (D) | | 837,438 | | | 772,108 |
Series 2021-A, Class A
0.840%, 05/15/2069 (D) | | 585,647 | | | 526,461 |
Series 2021-BA, Class A
0.940%, 07/15/2069 (D) | | 484,260 | | | 427,175 |
Series 2021-CA, Class A
1.060%, 10/15/2069 (D) | | 127,333 | | | 114,047 |
Series 2021-EA, Class A
0.970%, 12/16/2069 (D) | | 3,315,575 | | | 2,906,938 |
Series 2021-FA, Class A
1.110%, 02/18/2070 (D) | | 1,692,967 | | | 1,469,850 |
Series 2021-GA, Class A
1.580%, 04/15/2070 (D) | | 1,176,965 | | | 1,030,086 |
Series 2022-A, Class A
2.230%, 07/15/2070 (D) | | 4,175,725 | | | 3,805,384 |
| The accompanying notes are an integral part of the financial statements. | 32 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
Core Bond Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| ASSET BACKED SECURITIES (continued) | | | |
| Navient Student Loan Trust | | | | | |
Series 2019-BA, Class A2A
3.390%, 12/15/2059 (D) | $ | 1,399,352 | | $ | 1,358,846 |
Series 2021-3A, Class A1A
1.770%, 08/25/2070 (D) | | 1,951,098 | | | 1,710,083 |
| Nelnet Student Loan Trust | | | | | |
Series 2004-3, Class A5 (3 month LIBOR + 0.180%)
2.963%, 10/27/2036 (B) | | 192,779 | | | 186,103 |
Series 2004-4, Class A5 (3 month LIBOR + 0.160%)
2.943%, 01/25/2037 (B) | | 1,181,997 | | | 1,146,155 |
Series 2005-1, Class A5 (3 month LIBOR + 0.110%)
2.893%, 10/25/2033 (B) | | 3,426,648 | | | 3,339,271 |
Series 2005-2, Class A5 (3 month LIBOR + 0.100%)
2.196%, 03/23/2037 (B) | | 3,623,974 | | | 3,506,399 |
Series 2005-3, Class A5 (3 month LIBOR + 0.120%)
2.216%, 12/24/2035 (B) | | 2,631,906 | | | 2,552,065 |
Series 2005-4, Class A4 (3 month LIBOR + 0.180%)
2.276%, 03/22/2032 (B) | | 450,996 | | | 428,247 |
Nissan Auto Lease Trust
Series 2022-A, Class A3
3.810%, 05/15/2025 | | 2,215,000 | | | 2,211,551 |
| PenFed Auto Receivables Owner Trust | | | | | |
Series 2022-A, Class A3
3.960%, 04/15/2026 (D) | | 1,216,000 | | | 1,211,540 |
Series 2022-A, Class A4
4.180%, 12/15/2028 (D) | | 598,000 | | | 596,271 |
| Santander Drive Auto Receivables Trust | | | | | |
Series 2022-2, Class A3
2.980%, 10/15/2026 | | 3,333,000 | | | 3,278,824 |
Series 2022-3, Class A3
3.400%, 12/15/2026 | | 1,309,000 | | | 1,292,372 |
Series 2022-4, Class A3
4.140%, 02/16/2027 | | 1,697,000 | | | 1,687,286 |
Series 2022-5, Class A3
4.110%, 08/17/2026 | | 1,434,000 | | | 1,429,155 |
| SMB Private Education Loan Trust | | | | | |
Series 2016-B, Class A2A
2.430%, 02/17/2032 (D) | | 152,404 | | | 147,940 |
Series 2016-B, Class A2B (1 month LIBOR + 1.450%)
3.841%, 02/17/2032 (B)(D) | | 103,842 | | | 103,717 |
Series 2018-C, Class A2A
3.630%, 11/15/2035 (D) | | 676,984 | | | 658,101 |
Series 2019-A, Class A2A
3.440%, 07/15/2036 (D) | | 4,012,277 | | | 3,892,006 |
Series 2020-B, Class A1A
1.290%, 07/15/2053 (D) | | 1,379,333 | | | 1,252,629 |
Series 2020-PTA, Class A2A
1.600%, 09/15/2054 (D) | | 1,562,765 | | | 1,425,511 |
Series 2020-PTB, Class A2A
1.600%, 09/15/2054 (D) | | 4,674,390 | | | 4,259,396 |
Series 2021-A, Class APT1
1.070%, 01/15/2053 (D) | | 3,796,330 | | | 3,371,826 |
Series 2021-B, Class A
1.310%, 07/17/2051 (D) | | 997,940 | | | 906,347 |
Series 2021-C, Class A2 (1 month LIBOR + 0.800%)
3.191%, 01/15/2053 (B)(D) | | 2,226,000 | | | 2,145,990 |
Series 2021-D, Class A1A
1.340%, 03/17/2053 (D) | | 3,167,276 | | | 2,870,134 |
Core Bond Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| ASSET BACKED SECURITIES (continued) | | | |
SMB Private Education
Loan Trust (continued) | | | | | |
Series 2021-E, Class A1A
1.680%, 02/15/2051 (D) | $ | 2,200,909 | | $ | 2,010,236 |
Series 2022-A, Class APT
2.850%, 11/16/2054 (D) | | 1,489,073 | | | 1,364,893 |
Series 2022-C, Class A1A
4.480%, 05/16/2050 (D) | | 1,156,000 | | | 1,144,891 |
| SoFi Professional Loan Program LLC | | | | | |
Series 2017-D, Class A2FX
2.650%, 09/25/2040 (D) | | 284,781 | | | 277,095 |
Series 2017-E, Class A2B
2.720%, 11/26/2040 (D) | | 364,272 | | | 362,137 |
Series 2020-C, Class AFX
1.950%, 02/15/2046 (D) | | 181,469 | | | 169,508 |
Series 2021-A, Class AFX
1.030%, 08/17/2043 (D) | | 601,349 | | | 536,909 |
Series 2021-B, Class AFX
1.140%, 02/15/2047 (D) | | 1,355,048 | | | 1,165,845 |
| Synchrony Card Funding LLC | | | | | |
Series 2022-A1, Class A
3.370%, 04/15/2028 | | 1,944,000 | | | 1,913,395 |
Series 2022-A2, Class A
3.860%, 07/15/2028 | | 2,015,000 | | | 2,004,875 |
Toyota Auto Loan Extended Note Trust
Series 2022-1A, Class A
3.820%, 04/25/2035 (D) | | 6,059,000 | | | 5,983,342 |
| Toyota Auto Receivables Owner Trust | | | | | |
Series 2021-D, Class A3
0.710%, 04/15/2026 | | 529,000 | | | 503,864 |
Series 2022-B, Class A4
3.110%, 08/16/2027 | | 1,267,000 | | | 1,231,831 |
Series 2022-C, Class A4
3.770%, 02/15/2028 | | 1,299,000 | | | 1,282,426 |
Triton Container Finance VIII LLC
Series 2020-1A, Class A
2.110%, 09/20/2045 (D) | | 1,002,826 | | | 885,529 |
| Verizon Master Trust | | | | | |
Series 2022-2, Class A
1.530%, 07/20/2028 | | 1,023,000 | | | 964,681 |
Series 2022-4, Class A (3.400% to 6-20-25, then 4.150% thereafter)
3.400%, 11/20/2028 | | 2,260,000 | | | 2,225,423 |
Series 2022-6, Class A
3.670%, 01/22/2029 | | 2,106,000 | | | 2,092,532 |
World Omni Automobile Lease
Securitization Trust | | | | | |
Series 2022-A, Class A3
3.210%, 02/18/2025 | | 1,195,000 | | | 1,180,359 |
Series 2022-A, Class A4
3.340%, 06/15/2027 | | 704,000 | | | 697,592 |
| TOTAL ASSET BACKED SECURITIES (Cost $173,096,200) | | | $ | 165,524,374 |
| SHORT-TERM INVESTMENTS – 5.8% | | | |
| Short-term funds – 5.8% | | | | | |
| State Street Institutional U.S. Government Money Market Fund, Premier Class, 2.2409% (F) | | 94,053,294 | | | 94,053,294 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $94,053,294) | | $ | 94,053,294 |
Total Investments (Core Bond Fund)
(Cost $1,879,213,707) – 109.0% | | $ | 1,756,635,987 |
| Other assets and liabilities, net – (9.0%) | | | | (144,741,273) |
| TOTAL NET ASSETS – 100.0% | | | | $ | 1,611,894,714 |
| The accompanying notes are an integral part of the financial statements. | 33 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
Core Bond Fund (continued)
| Security Abbreviations and Legend |
| CME | Chicago Mercantile Exchange |
| CMT | Constant Maturity Treasury |
| LIBOR | London Interbank Offered Rate |
| SOFR | Secured Overnight Financing Rate |
| TBA | To Be Announced. A forward mortgage-backed securities trade issued by a U.S. Government Agency, to be delivered at an agreed-upon future settlement date. |
| (A) | Security purchased or sold on a when-issued or delayed delivery basis. |
| (B) | Variable rate obligation. The coupon rate shown represents the rate at period end. |
| (C) | Zero coupon bonds are issued at a discount from their principal amount in lieu of paying interest periodically. Rate shown is the effective yield at period end. |
| (D) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. Rule 144A securities amounted to $207,331,918 or 12.9% of the fund's net assets as of 8-31-22. |
| (E) | Variable or floating rate security, the interest rate of which adjusts periodically based on a weighted average of interest rates and prepayments on the underlying pool of assets. The interest rate shown is the current rate as of period end. |
| (F) | The rate shown is the annualized seven-day yield as of 8-31-22. |
Health Sciences Fund
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS – 98.6% | | | |
| Consumer discretionary – 0.2% | | | | | |
| Specialty retail – 0.2% | | | |
| Warby Parker, Inc., Class A (A) | | 54,212 | | $ | 681,445 |
| Financials – 0.1% | | | | | |
| Capital markets – 0.1% | | | |
| BCLS Acquisition Corp., Class A (A) | | 21,428 | | | 216,851 |
| Health Sciences Acquisitions Corp. 2 (A) | | 19,166 | | | 188,593 |
| | | | | | 405,444 |
| Health care – 97.8% | | | | | |
| Biotechnology – 26.9% | | | |
| Aadi Bioscience, Inc. (A) | | 10,520 | | | 142,546 |
| AbbVie, Inc. | | 35,991 | | | 4,839,350 |
| ACADIA Pharmaceuticals, Inc. (A) | | 33,281 | | | 546,807 |
| Adagio Therapeutics, Inc. (A) | | 23,851 | | | 108,761 |
| ADC Therapeutics SA (A) | | 30,034 | | | 204,832 |
| Agios Pharmaceuticals, Inc. (A) | | 9,345 | | | 238,298 |
| Akero Therapeutics, Inc. (A) | | 128 | | | 1,504 |
| Alector, Inc. (A) | | 15,178 | | | 157,092 |
| Allakos, Inc. (A) | | 21,130 | | | 102,481 |
| Allogene Therapeutics, Inc. (A) | | 46,738 | | | 640,778 |
| Alnylam Pharmaceuticals, Inc. (A) | | 28,136 | | | 5,814,867 |
| Apellis Pharmaceuticals, Inc. (A) | | 22,111 | | | 1,337,937 |
| Argenx SE, ADR (A) | | 17,940 | | | 6,778,988 |
| Ascendis Pharma A/S, ADR (A) | | 16,968 | | | 1,519,824 |
| Avidity Biosciences, Inc. (A) | | 26,926 | | | 528,288 |
| BeiGene, Ltd., ADR (A) | | 3,800 | | | 652,308 |
| Bicycle Therapeutics PLC, ADR (A) | | 7,577 | | | 200,412 |
| Biogen, Inc. (A) | | 6,200 | | | 1,211,356 |
| BioMarin Pharmaceutical, Inc. (A) | | 6,638 | | | 592,110 |
| BioNTech SE, ADR | | 21,706 | | | 3,139,556 |
| Blueprint Medicines Corp. (A) | | 20,134 | | | 1,474,211 |
| Burning Rock Biotech, Ltd., ADR (A) | | 11,762 | | | 46,107 |
| C4 Therapeutics, Inc. (A) | | 22,153 | | | 223,302 |
| Celldex Therapeutics, Inc. (A) | | 11,299 | | | 343,490 |
| Centessa Pharmaceuticals PLC, ADR (A) | | 34,369 | | | 149,505 |
Health Sciences Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| Biotechnology (continued) | | | |
| Cerevel Therapeutics Holdings, Inc. (A) | | 36,862 | | $ | 1,072,684 |
| CRISPR Therapeutics AG (A) | | 7,107 | | | 462,595 |
| Cytokinetics, Inc. (A) | | 8,863 | | | 469,384 |
| Day One Biopharmaceuticals, Inc. (A) | | 14,310 | | | 336,142 |
| Deciphera Pharmaceuticals, Inc. (A) | | 8,300 | | | 134,709 |
| Denali Therapeutics, Inc. (A) | | 28,310 | | | 783,338 |
| Design Therapeutics, Inc. (A) | | 12,119 | | | 245,531 |
| Enanta Pharmaceuticals, Inc. (A) | | 3,435 | | | 209,123 |
| Entrada Therapeutics, Inc. (A) | | 20,271 | | | 256,023 |
| EQRx, Inc. (A) | | 41,363 | | | 202,265 |
| Exact Sciences Corp. (A) | | 28,283 | | | 1,005,461 |
| Exelixis, Inc. (A) | | 53,271 | | | 945,028 |
| Exscientia PLC, ADR (A) | | 8,984 | | | 86,965 |
| Fate Therapeutics, Inc. (A) | | 22,456 | | | 587,000 |
| F-star Therapeutics, Inc. (A) | | 1,835 | | | 12,313 |
| Generation Bio Company (A) | | 45,593 | | | 233,436 |
| Genmab A/S (A) | | 6,815 | | | 2,425,909 |
| Ideaya Biosciences, Inc. (A) | | 11,068 | | | 108,798 |
| IGM Biosciences, Inc. (A) | | 11,067 | | | 214,810 |
| Imago Biosciences, Inc. (A) | | 15,649 | | | 227,380 |
| Immatics NV (A) | | 5,136 | | | 65,535 |
| Immuneering Corp., Class A (A) | | 37,514 | | | 209,328 |
| Immunocore Holdings PLC, ADR (A) | | 15,841 | | | 836,563 |
| Incyte Corp. (A) | | 27,011 | | | 1,902,385 |
| Insmed, Inc. (A) | | 51,039 | | | 1,256,580 |
| Intellia Therapeutics, Inc. (A) | | 8,225 | | | 493,994 |
| Ionis Pharmaceuticals, Inc. (A) | | 30,492 | | | 1,296,520 |
| Iovance Biotherapeutics, Inc. (A) | | 39,305 | | | 421,350 |
| IVERIC bio, Inc. (A) | | 38,036 | | | 374,274 |
| Karuna Therapeutics, Inc. (A) | | 11,592 | | | 2,956,656 |
| Kodiak Sciences, Inc. (A) | | 17,745 | | | 177,627 |
| Kronos Bio, Inc. (A) | | 2,694 | | | 10,776 |
| Kymera Therapeutics, Inc. (A) | | 16,497 | | | 466,370 |
| Legend Biotech Corp., ADR (A) | | 11,016 | | | 512,134 |
| LianBio, ADR (A) | | 47,800 | | | 117,588 |
| Lyell Immunopharma, Inc. (A) | | 52,703 | | | 353,110 |
| MeiraGTx Holdings PLC (A) | | 14,764 | | | 122,541 |
| Mirati Therapeutics, Inc. (A) | | 8,088 | | | 655,371 |
| Moderna, Inc. (A) | | 32,399 | | | 4,285,416 |
| Monte Rosa Therapeutics, Inc. (A) | | 35,064 | | | 277,707 |
| MoonLake Immunotherapeutics (A) | | 17,736 | | | 142,952 |
| Morphic Holding, Inc. (A) | | 6,757 | | | 185,953 |
| Neurocrine Biosciences, Inc. (A) | | 8,427 | | | 881,717 |
| Novavax, Inc. (A) | | 4,000 | | | 132,160 |
| Nurix Therapeutics, Inc. (A) | | 13,902 | | | 218,678 |
| Pardes Biosciences, Inc. (A) | | 25,338 | | | 88,936 |
| Prelude Therapeutics, Inc. (A) | | 5,546 | | | 39,931 |
| Progenics Pharmaceuticals, Inc. (A)(B) | | 33,200 | | | 38,210 |
| Prothena Corp. PLC (A) | | 15,048 | | | 414,873 |
| PTC Therapeutics, Inc. (A) | | 7,083 | | | 353,725 |
| RAPT Therapeutics, Inc. (A) | | 20,331 | | | 543,041 |
| Regeneron Pharmaceuticals, Inc. (A) | | 11,217 | | | 6,517,750 |
| REGENXBIO, Inc. (A) | | 5,547 | | | 163,637 |
| Relay Therapeutics, Inc. (A) | | 24,361 | | | 559,572 |
| Repare Therapeutics, Inc. (A) | | 3,509 | | | 41,827 |
| Replimune Group, Inc. (A) | | 23,465 | | | 447,243 |
| Revolution Healthcare Acquisition Corp. (A) | | 44,561 | | | 437,143 |
| REVOLUTION Medicines, Inc. (A) | | 25,805 | | | 537,518 |
| Rocket Pharmaceuticals, Inc. (A) | | 11,992 | | | 184,797 |
| Sage Therapeutics, Inc. (A) | | 14,965 | | | 563,582 |
| Sana Biotechnology, Inc. (A) | | 33,016 | | | 224,839 |
| Sarepta Therapeutics, Inc. (A) | | 10,133 | | | 1,108,348 |
| Scholar Rock Holding Corp. (A) | | 43,766 | | | 365,008 |
| Seagen, Inc. (A) | | 8,210 | | | 1,266,721 |
| The accompanying notes are an integral part of the financial statements. | 34 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
Health Sciences Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| Biotechnology (continued) | | | |
| Senti Biosciences, Inc. (A) | | 26,772 | | $ | 52,473 |
| SpringWorks Therapeutics, Inc. (A) | | 3,743 | | | 103,943 |
| Stoke Therapeutics, Inc. (A) | | 11,180 | | | 168,371 |
| Tenaya Therapeutics, Inc. (A) | | 22,221 | | | 97,550 |
| Twist Bioscience Corp. (A) | | 10,043 | | | 402,925 |
| Ultragenyx Pharmaceutical, Inc. (A) | | 27,491 | | | 1,311,046 |
| uniQure NV (A) | | 11,690 | | | 228,423 |
| Vertex Pharmaceuticals, Inc. (A) | | 28,650 | | | 8,072,424 |
| Voyager Therapeutics, Inc. (A) | | 18,592 | | | 110,994 |
| Xencor, Inc. (A) | | 18,574 | | | 490,168 |
| Zai Lab, Ltd., ADR (A) | | 10,256 | | | 473,930 |
| Zentalis Pharmaceuticals, Inc. (A) | | 15,693 | | | 420,729 |
| | | | | | 85,196,566 |
| Health care equipment and supplies – 15.8% | | | |
| Alcon, Inc. | | 19,600 | | | 1,290,522 |
| Align Technology, Inc. (A) | | 1,441 | | | 351,172 |
| AtriCure, Inc. (A) | | 5,090 | | | 232,206 |
| Becton, Dickinson and Company | | 21,987 | | | 5,549,959 |
| DexCom, Inc. (A) | | 22,426 | | | 1,843,641 |
| Hologic, Inc. (A) | | 58,985 | | | 3,985,027 |
| Inari Medical, Inc. (A) | | 6,860 | | | 475,741 |
| Insulet Corp. (A) | | 8,066 | | | 2,060,621 |
| Intuitive Surgical, Inc. (A) | | 44,432 | | | 9,141,440 |
| iRhythm Technologies, Inc. (A) | | 7,599 | | | 1,120,473 |
| Lantheus Holdings, Inc. (A) | | 10,655 | | | 839,614 |
| Medtronic PLC | | 5,700 | | | 501,144 |
| Nevro Corp. (A) | | 5,973 | | | 270,696 |
| Novocure, Ltd. (A) | | 27,774 | | | 2,281,079 |
| Penumbra, Inc. (A) | | 12,554 | | | 2,060,990 |
| PROCEPT BioRobotics Corp. (A) | | 15,489 | | | 626,995 |
| QuidelOrtho Corp. (A) | | 13,214 | | | 1,047,342 |
| Shockwave Medical, Inc. (A) | | 17,086 | | | 5,072,150 |
| STERIS PLC | | 5,359 | | | 1,079,195 |
| Stryker Corp. | | 31,526 | | | 6,469,135 |
| Teleflex, Inc. | | 7,221 | | | 1,633,823 |
| The Cooper Companies, Inc. | | 4,433 | | | 1,274,222 |
| Zimmer Biomet Holdings, Inc. | | 8,294 | | | 881,818 |
| | | | | | 50,089,005 |
| Health care providers and services – 20.7% | | | |
| Acadia Healthcare Company, Inc. (A) | | 2,800 | | | 229,404 |
| agilon health, Inc. (A) | | 12,703 | | | 263,968 |
| Alignment Healthcare, Inc. (A) | | 31,904 | | | 485,260 |
| Centene Corp. (A) | | 86,775 | | | 7,787,189 |
| Cigna Corp. | | 14,568 | | | 4,129,300 |
| Elevance Health, Inc. | | 18,762 | | | 9,101,634 |
| Guardant Health, Inc. (A) | | 21,321 | | | 1,067,329 |
| HCA Healthcare, Inc. | | 10,575 | | | 2,092,475 |
| Humana, Inc. | | 14,661 | | | 7,063,377 |
| Molina Healthcare, Inc. (A) | | 14,616 | | | 4,931,000 |
| Oak Street Health, Inc. (A) | | 13,337 | | | 349,429 |
| Option Care Health, Inc. (A) | | 16,947 | | | 524,679 |
| Sema4 Holdings Corp. (A) | | 32,652 | | | 33,305 |
| Surgery Partners, Inc. (A) | | 11,339 | | | 312,163 |
| UnitedHealth Group, Inc. | | 52,160 | | | 27,088,242 |
| | | | | | 65,458,754 |
| Health care technology – 1.7% | | | |
| Certara, Inc. (A) | | 19,568 | | | 306,631 |
| Doximity, Inc., Class A (A) | | 36,124 | | | 1,198,956 |
| M3, Inc. | | 9,000 | | | 288,287 |
| Sophia Genetics SA (A) | | 31,768 | | | 104,517 |
| Veeva Systems, Inc., Class A (A) | | 18,297 | | | 3,646,958 |
| | | | | | 5,545,349 |
| Life sciences tools and services – 16.8% | | | |
| 10X Genomics, Inc., Class A (A) | | 21,238 | | | 700,642 |
Health Sciences Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| Life sciences tools and services (continued) | | | |
| Adaptive Biotechnologies Corp. (A) | | 23,474 | | $ | 209,388 |
| Agilent Technologies, Inc. | | 43,386 | | | 5,564,255 |
| Avantor, Inc. (A) | | 90,298 | | | 2,249,323 |
| Bio-Techne Corp. | | 2,544 | | | 844,125 |
| Bruker Corp. | | 38,937 | | | 2,180,472 |
| Charles River Laboratories International, Inc. (A) | | 5,155 | | | 1,058,064 |
| Danaher Corp. | | 47,861 | | | 12,918,163 |
| Evotec SE (A) | | 13,450 | | | 295,678 |
| Illumina, Inc. (A) | | 2,650 | | | 534,346 |
| IQVIA Holdings, Inc. (A) | | 1,600 | | | 340,256 |
| Lonza Group AG | | 1,047 | | | 558,386 |
| Maravai LifeSciences Holdings, Inc., Class A (A) | | 10,070 | | | 210,161 |
| Mettler-Toledo International, Inc. (A) | | 997 | | | 1,208,823 |
| Olink Holding AB, ADR (A) | | 46,003 | | | 696,485 |
| Pacific Biosciences of California, Inc. (A) | | 56,343 | | | 330,170 |
| Quanterix Corp. (A) | | 10,777 | | | 100,765 |
| Rapid Micro Biosystems, Inc., Class A (A) | | 18,669 | | | 62,168 |
| Repligen Corp. (A) | | 4,395 | | | 964,131 |
| Seer, Inc. (A) | | 31,895 | | | 322,140 |
| SomaLogic, Inc. (A) | | 78,435 | | | 288,641 |
| Thermo Fisher Scientific, Inc. | | 30,666 | | | 16,722,783 |
| Waters Corp. (A) | | 3,493 | | | 1,043,010 |
| West Pharmaceutical Services, Inc. | | 11,374 | | | 3,374,552 |
| Wuxi Biologics Cayman, Inc. (A)(C) | | 68,000 | | | 599,903 |
| | | | | | 53,376,830 |
| Pharmaceuticals – 15.9% | | | |
| Arvinas, Inc. (A) | | 11,764 | | | 498,088 |
| Astellas Pharma, Inc. | | 42,500 | | | 602,556 |
| AstraZeneca PLC, ADR | | 159,841 | | | 9,970,882 |
| Bayer AG | | 10,960 | | | 579,652 |
| Catalent, Inc. (A) | | 19,401 | | | 1,707,288 |
| CinCor Pharma, Inc. (A) | | 16,923 | | | 571,490 |
| Daiichi Sankyo Company, Ltd. | | 107,200 | | | 3,221,552 |
| DICE Therapeutics, Inc. (A) | | 15,274 | | | 239,802 |
| Eisai Company, Ltd. | | 7,600 | | | 309,876 |
| Elanco Animal Health, Inc. (A) | | 19,560 | | | 295,943 |
| Eli Lilly & Company | | 41,309 | | | 12,443,510 |
| Longboard Pharmaceuticals, Inc. (A) | | 9,431 | | | 31,594 |
| Merck & Company, Inc. | | 73,990 | | | 6,315,786 |
| Nuvation Bio, Inc. (A) | | 11,900 | | | 33,320 |
| Pfizer, Inc. | | 174,627 | | | 7,898,379 |
| Pliant Therapeutics, Inc. (A) | | 6,834 | | | 131,760 |
| Relmada Therapeutics, Inc. (A) | | 2,900 | | | 84,506 |
| Roche Holding AG | | 6,592 | | | 2,124,215 |
| Royalty Pharma PLC, Class A | | 33,182 | | | 1,387,339 |
| Theseus Pharmaceuticals, Inc. (A) | | 25,222 | | | 172,014 |
| Tricida, Inc. (A) | | 4,267 | | | 53,423 |
| Viatris, Inc. | | 23,200 | | | 221,560 |
| Zoetis, Inc. | | 9,348 | | | 1,463,242 |
| | | | | | 50,357,777 |
| | | | | | 310,024,281 |
| Industrials – 0.3% | | | | | |
| Industrial conglomerates – 0.3% | | | |
| General Electric Company | | 12,743 | | | 935,846 |
| Information technology – 0.1% | | | | | |
| Electronic equipment, instruments and components – 0.1% | | | |
| Shimadzu Corp. | | 8,200 | | | 239,490 |
| Materials – 0.1% | | | | | |
| Chemicals – 0.1% | | | |
| Ginkgo Bioworks Holdings, Inc. (A) | | 91,101 | | | 245,062 |
| TOTAL COMMON STOCKS (Cost $234,344,631) | | $ | 312,531,568 |
| The accompanying notes are an integral part of the financial statements. | 35 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
Health Sciences Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| PREFERRED SECURITIES – 0.7% | | | | | |
| Health care – 0.7% | | | | | |
| Health care equipment and supplies – 0.7% | | | |
| Sartorius AG | | 5,155 | | $ | 2,147,703 |
| TOTAL PREFERRED SECURITIES (Cost $970,917) | | $ | 2,147,703 |
| WARRANTS – 0.0% | | | | | |
| EQRx, Inc. (Expiration Date: 12-20-26; Strike Price: $11.50) (A) | | 6,524 | | | 6,002 |
| Sema4 Holdings Corp. (Expiration Date: 9-24-27; Strike Price: $11.50) (A) | | 7,150 | | | 1,723 |
| SomaLogic, Inc. (Expiration Date: 8-31-26; Strike Price: $11.50) (A) | | 2,900 | | | 1,798 |
| TOTAL WARRANTS (Cost $42,435) | | $ | 9,523 |
| SHORT-TERM INVESTMENTS – 0.5% | | | |
| Short-term funds – 0.5% | | | | | |
| State Street Institutional U.S. Government Money Market Fund, Premier Class, 2.2409% (D) | | 1,364,619 | | | 1,364,619 |
| T. Rowe Price Government Reserve Fund, 2.3595% (D) | | 296,487 | | | 296,487 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $1,661,106) | | $ | 1,661,106 |
Total Investments (Health Sciences Fund)
(Cost $237,019,089) – 99.8% | | $ | 316,349,900 |
| Other assets and liabilities, net – 0.2% | | | 583,867 |
| TOTAL NET ASSETS – 100.0% | | $ | 316,933,767 |
| Security Abbreviations and Legend |
| ADR | American Depositary Receipt |
| (A) | Non-income producing security. |
| (B) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements. |
| (C) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. |
| (D) | The rate shown is the annualized seven-day yield as of 8-31-22. |
High Yield Fund
| | | Shares or
Principal
Amount | | Value |
| FOREIGN GOVERNMENT OBLIGATIONS – 0.7% | | | |
| Argentina – 0.3% | | | | | |
Provincia de Buenos Aires
3.900%, (3.900% to 9-1-22, then 5.250% to 9-1-23, then 6.375% to 9-1-24, then 6.625% thereafter), 09/01/2037 (A) | $ | 968,484 | | $ | 337,022 |
| Republic of Argentina | | | | | |
| 0.500%, (0.500% to 7-9-23, then 0.750% to 7-9-27, then 1.750% thereafter), 07/09/2030 | | 716,203 | | | 170,098 |
| 1.000%, 07/09/2029 | | 54,775 | | | 12,708 |
| 1.500%, (1.500% to 7-9-23, then 3.625% to 7-9-24, then 4.125% to 7-9-27, then 4.750% to 7-9-28, then 5.000% thereafter), 07/09/2035 | | 476,895 | | | 107,240 |
| | | | | | 627,068 |
| Brazil – 0.4% | | | | | |
Federative Republic of Brazil
10.000%, 01/01/2023 to 01/01/2027 | BRL | 4,175,000 | | | 800,987 |
High Yield Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| FOREIGN GOVERNMENT OBLIGATIONS (continued) | | | |
| Indonesia – 0.0% | | | | | |
Republic of Indonesia
8.375%, 03/15/2034 | IDR | 543,000,000 | | $ | 39,767 |
| TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $2,467,890) | | $ | 1,467,822 |
| CORPORATE BONDS – 81.6% | | | |
| Communication services – 11.2% | | | | | |
Accelerate360 Holdings LLC
8.000%, 03/01/2028 (A) | $ | 873,000 | | | 936,293 |
Allen Media LLC
10.500%, 02/15/2028 (A) | | 1,860,000 | | | 939,300 |
Altice Financing SA
5.750%, 08/15/2029 (A) | | 1,050,000 | | | 845,771 |
Altice France Holding SA
10.500%, 05/15/2027 (A) | | 770,000 | | | 664,294 |
Altice France SA
5.125%, 07/15/2029 (A) | | 630,000 | | | 478,586 |
AMC Entertainment Holdings, Inc.
7.500%, 02/15/2029 (A) | | 780,000 | | | 670,800 |
AMC Entertainment Holdings, Inc.
10.000%, 06/15/2026 (A) | | 570,000 | | | 458,138 |
| CCO Holdings LLC | | | | | |
| 4.250%, 01/15/2034 (A) | | 1,440,000 | | | 1,096,358 |
| 4.500%, 05/01/2032 | | 1,740,000 | | | 1,411,975 |
| 4.750%, 02/01/2032 (A) | | 710,000 | | | 587,312 |
Clear Channel Outdoor Holdings, Inc.
7.500%, 06/01/2029 (A) | | 930,000 | | | 747,697 |
| CSC Holdings LLC | | | | | |
| 4.500%, 11/15/2031 (A) | | 330,000 | | | 264,736 |
| 5.000%, 11/15/2031 (A) | | 430,000 | | | 306,696 |
| 5.750%, 01/15/2030 (A) | | 660,000 | | | 511,130 |
| 6.500%, 02/01/2029 (A) | | 900,000 | | | 828,212 |
Directv Financing LLC
5.875%, 08/15/2027 (A) | | 800,000 | | | 732,000 |
| DISH DBS Corp. | | | | | |
| 5.125%, 06/01/2029 | | 1,020,000 | | | 604,350 |
| 5.750%, 12/01/2028 (A) | | 1,210,000 | | | 929,119 |
| 7.750%, 07/01/2026 | | 1,900,000 | | | 1,497,998 |
Gannett Holdings LLC
6.000%, 11/01/2026 (A) | | 860,000 | | | 670,800 |
| iHeartCommunications, Inc. | | | | | |
| 4.750%, 01/15/2028 (A) | | 30,000 | | | 25,745 |
| 5.250%, 08/15/2027 (A) | | 780,000 | | | 699,773 |
| Match Group Holdings II LLC | | | | | |
| 3.625%, 10/01/2031 (A) | | 560,000 | | | 438,054 |
| 4.625%, 06/01/2028 (A) | | 440,000 | | | 391,600 |
News Corp.
3.875%, 05/15/2029 (A) | | 400,000 | | | 348,000 |
Playtika Holding Corp.
4.250%, 03/15/2029 (A) | | 700,000 | | | 597,030 |
Sprint Capital Corp.
8.750%, 03/15/2032 | | 1,050,000 | | | 1,267,581 |
Switch, Ltd.
4.125%, 06/15/2029 (A) | | 350,000 | | | 349,124 |
Time Warner Cable LLC
7.300%, 07/01/2038 | | 400,000 | | | 410,919 |
UPC Holding BV
5.500%, 01/15/2028 (A) | | 400,000 | | | 342,550 |
Urban One, Inc.
7.375%, 02/01/2028 (A) | | 660,000 | | | 592,350 |
Viavi Solutions, Inc.
3.750%, 10/01/2029 (A) | | 370,000 | | | 317,489 |
Virgin Media Secured Finance PLC
5.500%, 05/15/2029 (A) | | 550,000 | | | 489,264 |
| The accompanying notes are an integral part of the financial statements. | 36 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
High Yield Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| CORPORATE BONDS (continued) | | | |
| Communication services (continued) | | | | | |
Virgin Media Vendor Financing Notes IV DAC
5.000%, 07/15/2028 (A) | $ | 510,000 | | $ | 435,563 |
Vmed O2 UK Financing I PLC
4.750%, 07/15/2031 (A) | | 500,000 | | | 411,563 |
ZipRecruiter, Inc.
5.000%, 01/15/2030 (A) | | 430,000 | | | 356,900 |
ZoomInfo Technologies LLC
3.875%, 02/01/2029 (A) | | 800,000 | | | 692,987 |
| | | | | | 23,348,057 |
| Consumer discretionary – 16.5% | | | | | |
Academy, Ltd.
6.000%, 11/15/2027 (A) | | 650,000 | | | 606,769 |
Adtalem Global Education, Inc.
5.500%, 03/01/2028 (A) | | 709,000 | | | 673,550 |
American Axle & Manufacturing, Inc.
5.000%, 10/01/2029 (B) | | 1,000,000 | | | 842,085 |
American News Company LLC
8.500%, (8.500% Cash or 10.000% PIK), 09/01/2026 (A) | | 651,892 | | | 736,638 |
| Bath & Body Works, Inc. | | | | | |
| 5.250%, 02/01/2028 | | 850,000 | | | 761,719 |
| 6.625%, 10/01/2030 (A) | | 340,000 | | | 308,876 |
| 9.375%, 07/01/2025 (A) | | 370,000 | | | 391,421 |
Bed Bath & Beyond, Inc.
5.165%, 08/01/2044 | | 950,000 | | | 194,750 |
Boyne USA, Inc.
4.750%, 05/15/2029 (A) | | 680,000 | | | 604,804 |
| Caesars Entertainment, Inc. | | | | | |
| 4.625%, 10/15/2029 (A) | | 560,000 | | | 450,433 |
| 6.250%, 07/01/2025 (A) | | 500,000 | | | 488,205 |
| Carnival Corp. | | | | | |
| 5.750%, 03/01/2027 (A) | | 920,000 | | | 715,300 |
| 6.000%, 05/01/2029 (A) | | 620,000 | | | 470,053 |
Carnival Corp.
10.500%, 06/01/2030 (A) | | 590,000 | | | 539,850 |
Carriage Purchaser, Inc.
7.875%, 10/15/2029 (A) | | 980,000 | | | 764,338 |
Carriage Services, Inc.
4.250%, 05/15/2029 (A) | | 920,000 | | | 781,991 |
Carrols Restaurant Group, Inc.
5.875%, 07/01/2029 (A) | | 470,000 | | | 352,541 |
Dornoch Debt Merger Sub, Inc.
6.625%, 10/15/2029 (A) | | 550,000 | | | 429,000 |
Empire Communities Corp.
7.000%, 12/15/2025 (A) | | 900,000 | | | 773,865 |
| Fertitta Entertainment LLC | | | | | |
| 4.625%, 01/15/2029 (A) | | 860,000 | | | 749,430 |
| 6.750%, 01/15/2030 (A) | | 330,000 | | | 269,095 |
Fontainebleau Las Vegas Holdings LLC
10.250%, 06/15/2015 (A)(C) | | 2,983,778 | | | 298 |
Foot Locker, Inc.
4.000%, 10/01/2029 (A) | | 800,000 | | | 652,000 |
| Ford Motor Company | | | | | |
| 3.250%, 02/12/2032 | | 530,000 | | | 413,978 |
| 6.100%, 08/19/2032 | | 1,370,000 | | | 1,334,038 |
| Ford Motor Credit Company LLC | | | | | |
| 4.000%, 11/13/2030 | | 1,430,000 | | | 1,194,593 |
| 4.950%, 05/28/2027 | | 430,000 | | | 403,695 |
| 5.113%, 05/03/2029 | | 1,160,000 | | | 1,072,043 |
Full House Resorts, Inc.
8.250%, 02/15/2028 (A) | | 1,110,000 | | | 1,012,875 |
Marston's Issuer PLC
4.080%, (SONIA + 2.669%), 07/16/2035 (D) | GBP | 380,000 | | | 344,316 |
High Yield Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| CORPORATE BONDS (continued) | | | |
| Consumer discretionary (continued) | | | | | |
Melco Resorts Finance, Ltd.
5.375%, 12/04/2029 (A) | $ | 650,000 | | $ | 421,424 |
| NCL Corp., Ltd. | | | | | |
| 5.875%, 03/15/2026 to 02/15/2027 (A) | | 2,770,000 | | | 2,403,073 |
| 7.750%, 02/15/2029 (A) | | 800,000 | | | 649,675 |
NMG Holding Company, Inc.
7.125%, 04/01/2026 (A) | | 680,000 | | | 636,187 |
PetSmart, Inc.
7.750%, 02/15/2029 (A) | | 250,000 | | | 235,623 |
Rent-A-Center, Inc.
6.375%, 02/15/2029 (A)(B) | | 930,000 | | | 785,552 |
Royal Caribbean Cruises, Ltd.
5.500%, 08/31/2026 (A) | | 840,000 | | | 671,446 |
Royal Caribbean Cruises, Ltd.
11.625%, 08/15/2027 (A) | | 660,000 | | | 646,906 |
Sands China, Ltd.
5.900%, 08/08/2028 | | 200,000 | | | 171,000 |
Sizzling Platter LLC
8.500%, 11/28/2025 (A) | | 460,000 | | | 414,000 |
Speedway Motorsports LLC
4.875%, 11/01/2027 (A) | | 590,000 | | | 518,720 |
StoneMor, Inc.
8.500%, 05/15/2029 (A) | | 1,060,000 | | | 922,200 |
Sugarhouse HSP Gaming Prop Mezz LP
5.875%, 05/15/2025 (A) | | 380,000 | | | 352,035 |
| The Michaels Companies, Inc. | | | | | |
| 5.250%, 05/01/2028 (A) | | 440,000 | | | 337,348 |
| 7.875%, 05/01/2029 (A) | | 1,240,000 | | | 824,600 |
TopBuild Corp.
3.625%, 03/15/2029 (A) | | 400,000 | | | 336,412 |
| Viking Cruises, Ltd. | | | | | |
| 5.875%, 09/15/2027 (A) | | 310,000 | | | 250,021 |
| 7.000%, 02/15/2029 (A)(B) | | 1,590,000 | | | 1,275,301 |
Viking Cruises, Ltd.
13.000%, 05/15/2025 (A) | | 1,000,000 | | | 1,049,114 |
VOC Escrow, Ltd.
5.000%, 02/15/2028 (A) | | 700,000 | | | 591,500 |
WW International, Inc.
4.500%, 04/15/2029 (A) | | 1,000,000 | | | 624,515 |
| Wynn Macau, Ltd. | | | | | |
| 5.125%, 12/15/2029 (A) | | 300,000 | | | 208,704 |
| 5.625%, 08/26/2028 (A) | | 1,690,000 | | | 1,183,000 |
Wynn Resorts Finance LLC
7.750%, 04/15/2025 (A) | | 450,000 | | | 448,499 |
| | | | | | 34,289,404 |
| Consumer staples – 0.8% | | | | | |
Darling Ingredients, Inc.
6.000%, 06/15/2030 (A) | | 350,000 | | | 350,441 |
Simmons Foods, Inc.
4.625%, 03/01/2029 (A) | | 820,000 | | | 725,274 |
Triton Water Holdings, Inc.
6.250%, 04/01/2029 (A) | | 820,000 | | | 672,564 |
| | | | | | 1,748,279 |
| Energy – 12.3% | | | | | |
Apache Corp.
7.750%, 12/15/2029 | | 320,000 | | | 337,600 |
Berry Petroleum Company LLC
7.000%, 02/15/2026 (A) | | 1,590,000 | | | 1,494,123 |
| Blue Racer Midstream LLC | | | | | |
| 6.625%, 07/15/2026 (A) | | 1,100,000 | | | 1,041,271 |
| 7.625%, 12/15/2025 (A) | | 150,000 | | | 149,250 |
Cheniere Energy Partners LP
4.000%, 03/01/2031 | | 650,000 | | | 569,563 |
Chesapeake Energy Corp.
5.500%, 02/01/2026 (A) | | 90,000 | | | 86,696 |
| The accompanying notes are an integral part of the financial statements. | 37 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
High Yield Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| CORPORATE BONDS (continued) | | | |
| Energy (continued) | | | | | |
Chord Energy Corp.
6.375%, 06/01/2026 (A) | $ | 900,000 | | $ | 873,000 |
CNX Midstream Partners LP
4.750%, 04/15/2030 (A) | | 990,000 | | | 835,748 |
Colgate Energy Partners III LLC
5.875%, 07/01/2029 (A) | | 1,500,000 | | | 1,390,140 |
Comstock Resources, Inc.
5.875%, 01/15/2030 (A) | | 500,000 | | | 457,457 |
| DCP Midstream Operating LP | | | | | |
| 6.450%, 11/03/2036 (A) | | 310,000 | | | 312,536 |
| 6.750%, 09/15/2037 (A) | | 750,000 | | | 795,915 |
Earthstone Energy Holdings LLC
8.000%, 04/15/2027 (A) | | 180,000 | | | 175,388 |
Endeavor Energy Resources LP
5.750%, 01/30/2028 (A) | | 50,000 | | | 49,320 |
Energy Transfer LP
6.500%, (6.500% to 11-15-26, then 5 Year CMT + 5.694%), 11/15/2026 (E) | | 230,000 | | | 212,351 |
| EQM Midstream Partners LP | | | | | |
| 4.750%, 01/15/2031 (A) | | 240,000 | | | 207,566 |
| 5.500%, 07/15/2028 | | 620,000 | | | 566,841 |
| 6.500%, 07/01/2027 (A) | | 490,000 | | | 472,972 |
| 6.500%, 07/15/2048 | | 1,750,000 | | | 1,484,823 |
| 7.500%, 06/01/2030 (A) | | 360,000 | | | 357,412 |
Hilcorp Energy I LP
6.250%, 04/15/2032 (A) | | 670,000 | | | 600,549 |
Howard Midstream Energy Partners LLC
6.750%, 01/15/2027 (A) | | 810,000 | | | 732,859 |
| MEG Energy Corp. | | | | | |
| 5.875%, 02/01/2029 (A) | | 350,000 | | | 325,500 |
| 7.125%, 02/01/2027 (A) | | 830,000 | | | 838,715 |
Nabors Industries, Ltd.
7.250%, 01/15/2026 (A) | | 610,000 | | | 554,630 |
Neptune Energy Bondco PLC
6.625%, 05/15/2025 (A) | | 340,000 | | | 328,186 |
Northern Oil and Gas, Inc.
8.125%, 03/01/2028 (A) | | 1,140,000 | | | 1,094,400 |
| Occidental Petroleum Corp. | | | | | |
| 4.100%, 02/15/2047 | | 160,000 | | | 133,223 |
| 4.400%, 04/15/2046 | | 240,000 | | | 208,200 |
| 6.600%, 03/15/2046 | | 520,000 | | | 572,361 |
| 8.875%, 07/15/2030 | | 900,000 | | | 1,051,380 |
Penn Virginia Holdings LLC
9.250%, 08/15/2026 (A) | | 1,730,000 | | | 1,698,514 |
| Petrobras Global Finance BV | | | | | |
| 5.750%, 02/01/2029 | | 40,000 | | | 40,015 |
| 6.850%, 06/05/2115 | | 580,000 | | | 505,470 |
| Range Resources Corp. | | | | | |
| 4.750%, 02/15/2030 (A) | | 600,000 | | | 555,906 |
| 8.250%, 01/15/2029 | | 800,000 | | | 839,760 |
Southwestern Energy Company
4.750%, 02/01/2032 | | 640,000 | | | 570,472 |
Summit Midstream Holdings LLC
8.500%, 10/15/2026 (A) | | 430,000 | | | 416,468 |
Tallgrass Energy Partners LP
6.000%, 12/31/2030 (A) | | 800,000 | | | 700,211 |
Venture Global Calcasieu Pass LLC
3.875%, 11/01/2033 (A) | | 720,000 | | | 598,201 |
Western Midstream Operating LP
5.500%, 08/15/2048 to 02/01/2050 | | 1,530,000 | | | 1,329,407 |
| | | | | | 25,564,399 |
| Financials – 9.8% | | | | | |
Acuris Finance U.S., Inc.
5.000%, 05/01/2028 (A) | | 350,000 | | | 293,125 |
High Yield Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| CORPORATE BONDS (continued) | | | |
| Financials (continued) | | | | | |
AFC Gamma, Inc.
5.750%, 05/01/2027 (A) | $ | 720,000 | | $ | 607,928 |
Apollo Commercial Real Estate Finance, Inc.
4.625%, 06/15/2029 (A) | | 700,000 | | | 567,000 |
Barclays PLC
8.000%, (8.000% to 6-15-24, then 5 Year CMT + 5.672%), 06/15/2024 (E) | | 400,000 | | | 393,140 |
BNP Paribas SA
7.375%, (7.375% to 8-19-25, then 5 Year U.S. Swap Rate + 5.150%), 08/19/2025 (A)(E) | | 820,000 | | | 824,434 |
| Burford Capital Global Finance LLC | | | | | |
| 6.250%, 04/15/2028 (A) | | 700,000 | | | 620,276 |
| 6.875%, 04/15/2030 (A) | | 630,000 | | | 556,280 |
Coinbase Global, Inc.
3.625%, 10/01/2031 (A) | | 720,000 | | | 438,361 |
Credit Agricole SA
8.125%, (8.125% to 12-23-25, then 5 Year U.S. Swap Rate + 6.185%), 12/23/2025 (A)(E) | | 400,000 | | | 409,034 |
| Credit Suisse Group AG | | | | | |
| 6.375%, (6.375% to 8-21-26, then 5 Year CMT + 4.822%), 08/21/2026 (A)(E) | | 1,350,000 | | | 1,055,698 |
| 6.537%, (6.537% to 8-12-32, then SOFR + 3.920%), 08/12/2033 (A) | | 580,000 | | | 553,840 |
| 9.750%, (9.750% to 6-23-27, then 5 Year CMT + 6.383%), 06/23/2027 (A)(E) | | 690,000 | | | 696,900 |
| FirstCash, Inc. | | | | | |
| 4.625%, 09/01/2028 (A) | | 930,000 | | | 805,253 |
| 5.625%, 01/01/2030 (A) | | 320,000 | | | 286,400 |
Global Aircraft Leasing Company, Ltd.
6.500%, (6.500% Cash or 7.250% PIK), 09/15/2024 (A) | | 2,619,701 | | | 2,119,372 |
Highlands Holdings Bond Issuer, Ltd.
7.625%, (7.625% Cash or 8.375% PIK), 10/15/2025 (A) | | 1,177,637 | | | 1,127,587 |
Intesa Sanpaolo SpA
4.198%, (4.198% to 6-1-31, then 1 Year CMT + 2.600%), 06/01/2032 (A) | | 640,000 | | | 465,679 |
Jane Street Group
4.500%, 11/15/2029 (A) | | 440,000 | | | 398,680 |
| Ladder Capital Finance Holdings LLLP | | | | | |
| 4.250%, 02/01/2027 (A) | | 230,000 | | | 201,194 |
| 4.750%, 06/15/2029 (A) | | 490,000 | | | 415,201 |
| LD Holdings Group LLC | | | | | |
| 6.125%, 04/01/2028 (A) | | 820,000 | | | 435,515 |
| 6.500%, 11/01/2025 (A) | | 760,000 | | | 436,666 |
Lloyds Banking Group PLC
6.750%, (6.750% to 6-27-26, then 5 Year CMT + 4.815%), 06/27/2026 (E) | | 610,000 | | | 588,955 |
| Midcap Financial Issuer Trust | | | | | |
| 5.625%, 01/15/2030 (A) | | 450,000 | | | 343,341 |
| 6.500%, 05/01/2028 (A) | | 590,000 | | | 505,925 |
NMI Holdings, Inc.
7.375%, 06/01/2025 (A) | | 800,000 | | | 808,192 |
| Rocket Mortgage LLC | | | | | |
| 3.875%, 03/01/2031 (A) | | 860,000 | | | 671,009 |
| 4.000%, 10/15/2033 (A) | | 890,000 | | | 663,146 |
Ryan Specialty Group LLC
4.375%, 02/01/2030 (A) | | 670,000 | | | 603,838 |
StoneX Group, Inc.
8.625%, 06/15/2025 (A) | | 640,000 | | | 651,200 |
| The accompanying notes are an integral part of the financial statements. | 38 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
High Yield Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| CORPORATE BONDS (continued) | | | |
| Financials (continued) | | | | | |
UBS Group AG
7.000%, (7.000% to 1-31-24, then 5 Year U.S. Swap Rate + 4.344%), 01/31/2024 (A)(E) | $ | 1,170,000 | | $ | 1,142,841 |
UniCredit SpA
5.459%, (5.459% to 6-30-30, then 5 Year CMT + 4.750%), 06/30/2035 (A) | | 790,000 | | | 623,770 |
| | | | | | 20,309,780 |
| Health care – 6.0% | | | | | |
| AdaptHealth LLC | | | | | |
| 4.625%, 08/01/2029 (A) | | 650,000 | | | 541,268 |
| 5.125%, 03/01/2030 (A) | | 800,000 | | | 683,000 |
Akumin, Inc.
7.000%, 11/01/2025 (A) | | 1,000,000 | | | 849,410 |
| Bausch Health Companies, Inc. | | | | | |
| 5.250%, 01/30/2030 (A) | | 200,000 | | | 74,000 |
| 6.125%, 02/01/2027 (A) | | 460,000 | | | 340,400 |
| 6.250%, 02/15/2029 (A) | | 2,081,000 | | | 785,578 |
Cano Health LLC
6.250%, 10/01/2028 (A) | | 570,000 | | | 511,918 |
| Community Health Systems, Inc. | | | | | |
| 6.125%, 04/01/2030 (A) | | 500,000 | | | 309,850 |
| 6.875%, 04/15/2029 (A) | | 1,240,000 | | | 775,000 |
| Medline Borrower LP | | | | | |
| 3.875%, 04/01/2029 (A) | | 510,000 | | | 432,225 |
| 5.250%, 10/01/2029 (A) | | 740,000 | | | 621,911 |
Minerva Merger Sub, Inc.
6.500%, 02/15/2030 (A) | | 1,160,000 | | | 984,881 |
Par Pharmaceutical, Inc.
7.500%, 04/01/2027 (A)(C) | | 1,870,000 | | | 1,589,425 |
Radiology Partners, Inc.
9.250%, 02/01/2028 (A) | | 700,000 | | | 521,634 |
RegionalCare Hospital Partners Holdings, Inc.
9.750%, 12/01/2026 (A) | | 600,000 | | | 571,713 |
Tenet Healthcare Corp.
4.625%, 06/15/2028 (A) | | 700,000 | | | 636,297 |
Teva Pharmaceutical Finance Company LLC
6.150%, 02/01/2036 | | 400,000 | | | 359,953 |
Teva Pharmaceutical Finance Netherlands III BV
5.125%, 05/09/2029 | | 1,600,000 | | | 1,398,374 |
U.S. Renal Care, Inc.
10.625%, 07/15/2027 (A) | | 1,230,000 | | | 581,489 |
| | | | | | 12,568,326 |
| Industrials – 12.4% | | | | | |
Advanced Drainage Systems, Inc.
6.375%, 06/15/2030 (A) | | 430,000 | | | 416,034 |
Air Canada
3.875%, 08/15/2026 (A) | | 580,000 | | | 517,549 |
| Allied Universal Holdco LLC | | | | | |
| 4.625%, 06/01/2028 (A) | | 800,000 | | | 670,348 |
| 6.000%, 06/01/2029 (A) | | 610,000 | | | 452,739 |
| 6.625%, 07/15/2026 (A) | | 500,000 | | | 468,145 |
Alta Equipment Group, Inc.
5.625%, 04/15/2026 (A) | | 800,000 | | | 694,000 |
| American Airlines, Inc. | | | | | |
| 5.500%, 04/20/2026 (A) | | 200,000 | | | 190,256 |
| 5.750%, 04/20/2029 (A) | | 1,040,000 | | | 938,850 |
Anagram International, Inc.
10.000%, (0.000% Cash and 10.000% PIK), 08/15/2026 (A) | | 91,487 | | | 89,657 |
ATS Automation Tooling Systems, Inc.
4.125%, 12/15/2028 (A) | | 460,000 | | | 404,017 |
High Yield Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| CORPORATE BONDS (continued) | | | |
| Industrials (continued) | | | | | |
Brundage-Bone Concrete Pumping Holdings, Inc.
6.000%, 02/01/2026 (A) | $ | 680,000 | | $ | 615,801 |
CoreCivic, Inc.
8.250%, 04/15/2026 | | 1,550,000 | | | 1,532,316 |
Covanta Holding Corp.
4.875%, 12/01/2029 (A) | | 670,000 | | | 565,313 |
Delta Air Lines, Inc.
4.750%, 10/20/2028 (A) | | 660,000 | | | 630,522 |
Doman Building Materials Group, Ltd.
5.250%, 05/15/2026 (A) | CAD | 340,000 | | | 223,608 |
Foundation Building Materials, Inc.
6.000%, 03/01/2029 (A) | $ | 690,000 | | | 556,691 |
GEO Group, Inc.
10.500%, 06/30/2028 | | 360,000 | | | 342,420 |
H&E Equipment Services, Inc.
3.875%, 12/15/2028 (A) | | 800,000 | | | 675,904 |
Hawaiian Brand Intellectual Property, Ltd.
5.750%, 01/20/2026 (A) | | 600,000 | | | 547,671 |
Legends Hospitality Holding Company LLC
5.000%, 02/01/2026 (A) | | 1,000,000 | | | 912,500 |
Madison IAQ LLC
5.875%, 06/30/2029 (A) | | 1,000,000 | | | 822,640 |
Mileage Plus Holdings LLC
6.500%, 06/20/2027 (A) | | 550,000 | | | 551,375 |
MIWD Holdco II LLC
5.500%, 02/01/2030 (A) | | 1,120,000 | | | 919,831 |
Park-Ohio Industries, Inc.
6.625%, 04/15/2027 | | 360,000 | | | 298,800 |
PGT Innovations, Inc.
4.375%, 10/01/2029 (A) | | 470,000 | | | 397,543 |
PM General Purchaser LLC
9.500%, 10/01/2028 (A) | | 710,000 | | | 615,017 |
Prime Security Services Borrower LLC
6.250%, 01/15/2028 (A) | | 1,180,000 | | | 1,038,910 |
Resideo Funding, Inc.
4.000%, 09/01/2029 (A) | | 700,000 | | | 587,575 |
Roller Bearing Company of America, Inc.
4.375%, 10/15/2029 (A) | | 980,000 | | | 879,550 |
Spirit Loyalty Cayman, Ltd.
8.000%, 09/20/2025 (A) | | 342,000 | | | 347,359 |
SRM Escrow Issuer LLC
6.000%, 11/01/2028 (A) | | 1,000,000 | | | 907,100 |
The ADT Security Corp.
4.125%, 08/01/2029 (A) | | 340,000 | | | 291,968 |
Titan International, Inc.
7.000%, 04/30/2028 | | 520,000 | | | 494,000 |
TransDigm, Inc.
4.625%, 01/15/2029 | | 720,000 | | | 608,846 |
United Airlines 2020-1 Class B Pass Through Trust
4.875%, 01/15/2026 | | 246,760 | | | 232,983 |
| United Airlines, Inc. | | | | | |
| 4.375%, 04/15/2026 (A) | | 140,000 | | | 127,645 |
| 4.625%, 04/15/2029 (A) | | 1,400,000 | | | 1,228,500 |
| United Rentals North America, Inc. | | | | | |
| 3.875%, 02/15/2031 | | 560,000 | | | 484,204 |
| 5.250%, 01/15/2030 | | 1,260,000 | | | 1,191,960 |
Vertiv Group Corp.
4.125%, 11/15/2028 (A) | | 1,010,000 | | | 873,650 |
VistaJet Malta Finance PLC
6.375%, 02/01/2030 (A) | | 880,000 | | | 756,800 |
| The accompanying notes are an integral part of the financial statements. | 39 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
High Yield Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| CORPORATE BONDS (continued) | | | |
| Industrials (continued) | | | | | |
XPO CNW, Inc.
6.700%, 05/01/2034 | $ | 740,000 | | $ | 714,789 |
| | | | | | 25,815,386 |
| Information technology – 3.7% | | | | | |
Bread Financial Holdings, Inc.
4.750%, 12/15/2024 (A) | | 600,000 | | | 531,591 |
CA Magnum Holdings
5.375%, 10/31/2026 (A) | | 430,000 | | | 388,075 |
Central Parent, Inc.
7.250%, 06/15/2029 (A) | | 770,000 | | | 737,360 |
Clarivate Science Holdings Corp.
4.875%, 07/01/2029 (A) | | 320,000 | | | 264,512 |
| CommScope, Inc. | | | | | |
| 4.750%, 09/01/2029 (A) | | 710,000 | | | 604,175 |
| 8.250%, 03/01/2027 (A) | | 1,800,000 | | | 1,542,627 |
Elastic NV
4.125%, 07/15/2029 (A) | | 750,000 | | | 634,673 |
Helios Software Holdings, Inc.
4.625%, 05/01/2028 (A) | | 830,000 | | | 662,581 |
Paysafe Finance PLC
4.000%, 06/15/2029 (A) | | 1,010,000 | | | 754,975 |
Rackspace Technology Global, Inc.
3.500%, 02/15/2028 (A) | | 900,000 | | | 649,998 |
Vericast Corp.
11.000%, 09/15/2026 (A) | | 860,000 | | | 859,054 |
| | | | | | 7,629,621 |
| Materials – 4.9% | | | | | |
ARD Finance SA
6.500%, (6.500% Cash or 7.250% PIK), 06/30/2027 (A) | | 500,000 | | | 387,780 |
Ardagh Metal Packaging Finance
USA LLC | | | | | |
| 4.000%, 09/01/2029 (A) | | 1,000,000 | | | 810,000 |
| 6.000%, 06/15/2027 (A) | | 380,000 | | | 372,491 |
Ardagh Packaging Finance PLC
5.250%, 08/15/2027 (A) | | 720,000 | | | 520,463 |
Canpack SA
3.875%, 11/15/2029 (A) | | 410,000 | | | 332,108 |
Cascades, Inc.
5.375%, 01/15/2028 (A) | | 600,000 | | | 540,342 |
| First Quantum Minerals, Ltd. | | | | | |
| 6.875%, 03/01/2026 to 10/15/2027 (A) | | 2,320,000 | | | 2,216,380 |
| 7.500%, 04/01/2025 (A) | | 246,000 | | | 242,126 |
Freeport-McMoRan, Inc.
5.450%, 03/15/2043 | | 2,000,000 | | | 1,800,448 |
| Hudbay Minerals, Inc. | | | | | |
| 4.500%, 04/01/2026 (A) | | 250,000 | | | 226,875 |
| 6.125%, 04/01/2029 (A) | | 870,000 | | | 765,810 |
LSF11 A5 HoldCo LLC
6.625%, 10/15/2029 (A) | | 700,000 | | | 589,617 |
Midwest Vanadium Proprietary, Ltd.
13.250%, 02/15/2018 (A)(C) | | 1,951,648 | | | 3,903 |
Northwest Acquisitions ULC
7.125%, 11/01/2022 (A)(C) | | 1,140,000 | | | 11 |
Olin Corp.
5.000%, 02/01/2030 | | 560,000 | | | 508,210 |
Pactiv LLC
8.375%, 04/15/2027 | | 30,000 | | | 27,980 |
Summit Materials LLC
5.250%, 01/15/2029 (A) | | 870,000 | | | 782,552 |
| | | | | | 10,127,096 |
| Real estate – 3.1% | | | | | |
| Diversified Healthcare Trust | | | | | |
| 4.375%, 03/01/2031 | | 500,000 | | | 343,125 |
High Yield Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| CORPORATE BONDS (continued) | | | |
| Real estate (continued) | | | | | |
| Diversified Healthcare Trust (continued) | | | | | |
| 4.750%, 02/15/2028 | $ | 800,000 | | $ | 590,751 |
| 9.750%, 06/15/2025 | | 340,000 | | | 334,237 |
Five Point Operating Company LP
7.875%, 11/15/2025 (A) | | 640,000 | | | 558,850 |
| Forestar Group, Inc. | | | | | |
| 3.850%, 05/15/2026 (A) | | 580,000 | | | 492,826 |
| 5.000%, 03/01/2028 (A) | | 420,000 | | | 348,705 |
IIP Operating Partnership LP
5.500%, 05/25/2026 | | 1,160,000 | | | 1,033,215 |
Iron Mountain Information Management Services, Inc.
5.000%, 07/15/2032 (A) | | 570,000 | | | 473,161 |
| MPT Operating Partnership LP | | | | | |
| 3.500%, 03/15/2031 | | 300,000 | | | 224,898 |
| 4.625%, 08/01/2029 | | 250,000 | | | 212,987 |
Service Properties Trust
5.500%, 12/15/2027 | | 640,000 | | | 553,690 |
The GEO Group, Inc.
6.000%, 04/15/2026 | | 1,500,000 | | | 1,196,861 |
| | | | | | 6,363,306 |
| Utilities – 0.9% | | | | | |
Suburban Propane Partners LP
5.000%, 06/01/2031 (A) | | 460,000 | | | 406,210 |
Sunnova Energy Corp.
5.875%, 09/01/2026 (A)(B) | | 1,310,000 | | | 1,208,475 |
Superior Plus LP
4.500%, 03/15/2029 (A) | | 340,000 | | | 299,815 |
| | | | | | 1,914,500 |
| TOTAL CORPORATE BONDS (Cost $202,928,396) | | | $ | 169,678,154 |
| CONVERTIBLE BONDS – 1.1% | | | |
| Communication services – 0.4% | | | | | |
DISH Network Corp.
3.375%, 08/15/2026 | | 1,050,000 | | | 755,539 |
Liberty TripAdvisor Holdings, Inc.
0.500%, 06/30/2051 (A) | | 110,000 | | | 80,905 |
| | | | | | 836,444 |
| Consumer discretionary – 0.3% | | | | | |
DraftKings Holdings, Inc.
7.371%, 03/15/2028 (F) | | 780,000 | | | 523,035 |
Liberty Latin America, Ltd.
2.000%, 07/15/2024 | | 90,000 | | | 79,088 |
| | | | | | 602,123 |
| Financials – 0.2% | | | | | |
Blackstone Mortgage Trust, Inc.
5.500%, 03/15/2027 | | 450,000 | | | 415,688 |
| Industrials – 0.2% | | | | | |
Spirit Airlines, Inc.
1.000%, 05/15/2026 | | 500,000 | | | 436,500 |
| TOTAL CONVERTIBLE BONDS (Cost $2,798,480) | | | $ | 2,290,755 |
| TERM LOANS (G) – 5.7% | | | |
| Consumer discretionary – 1.5% | | | | | |
| Adtalem Global Education, Inc., 2021 Term Loan B (1 month LIBOR + 4.000%) 6.368%, 08/12/2028 | | 449,776 | | | 444,716 |
| Equinox Holdings, Inc. , 2020 Term Loan B2 (3 month LIBOR + 9.000%) 11.250%, 03/08/2024 | | 411,600 | | | 362,208 |
| The accompanying notes are an integral part of the financial statements. | 40 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
High Yield Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| TERM LOANS (G) (continued) | | | |
| Consumer discretionary (continued) | | | | | |
| First Brands Group LLC, 2021 Term Loan (3 month SOFR + 5.000%) 8.368%, 03/30/2027 | $ | 365,375 | | $ | 353,157 |
| Great Outdoors Group LLC, 2021 Term Loan B1 (1 month LIBOR + 3.750%) 6.274%, 03/06/2028 | | 354,620 | | | 342,563 |
| Rent-A-Center, Inc., 2021 First Lien Term Loan B (3 month LIBOR + 3.250%) 6.063%, 02/17/2028 | | 622,125 | | | 601,128 |
| Spencer Spirit IH LLC, Term Loan B (3 month LIBOR + 6.000%) 8.806%, 06/19/2026 | | 728,265 | | | 712,483 |
| Truck Hero, Inc., 2021 Term Loan B (1 month LIBOR + 3.500%) 6.024%, 01/31/2028 | | 355,500 | | | 322,737 |
| | | | | | 3,138,992 |
| Financials – 0.9% | | | | | |
| Acrisure LLC, 2020 Term Loan B (1 month LIBOR + 3.500%) 6.024%, 02/15/2027 | | 527,850 | | | 504,646 |
| Asurion LLC, 2021 Term Loan B9 (1 month LIBOR + 3.250%) 5.774%, 07/31/2027 | | 790,000 | | | 721,531 |
| Asurion LLC, 2022 Term Loan B10 (3 month SOFR + 4.000%) 6.301%, 08/19/2028 | | 470,000 | | | 437,885 |
| Deerfield Dakota Holding LLC, 2021 USD 2nd Lien Term Loan (1 month LIBOR + 6.750%) 9.274%, 04/07/2028 | | 250,000 | | | 245,000 |
| | | | | | 1,909,062 |
| Health care – 0.8% | | | | | |
| Eyecare Partners LLC, 2020 Term Loan (3 month LIBOR + 3.750%) 6.000%, 02/18/2027 | | 567,826 | | | 527,062 |
| Eyecare Partners LLC, First Lien Term Loan (1 month SOFR + 4.500%) 6.893%, 11/15/2028 | | 440,000 | | | 409,200 |
| U.S. Renal Care, Inc., 2019 Term Loan B (1 month LIBOR + 5.000%) 7.524%, 06/26/2026 | | 805,972 | | | 611,531 |
| | | | | | 1,547,793 |
| Industrials – 0.6% | | | | | |
| Allied Universal Holdco LLC, 2021 USD Incremental Term Loan B (1 month LIBOR + 3.750%) 6.274%, 05/12/2028 | | 794,000 | | | 756,388 |
| Mileage Plus Holdings LLC, 2020 Term Loan B (3 month LIBOR + 5.250%) 7.313%, 06/21/2027 | | 480,000 | | | 486,826 |
| | | | | | 1,243,214 |
| Information technology – 1.7% | | | | | |
| Dcert Buyer, Inc., 2019 Term Loan B (3 month LIBOR + 4.000%) 6.903%, 10/16/2026 | | 691,162 | | | 671,387 |
| Dcert Buyer, Inc., 2021 2nd Lien Term Loan (3 month LIBOR + 7.000%) 9.903%, 02/19/2029 | | 880,000 | | | 834,240 |
| Global Tel*Link Corp., 2018 1st Lien Term Loan (3 month LIBOR + 4.250%) 7.056%, 11/29/2025 | | 795,197 | | | 730,588 |
| Peraton Corp., Term Loan B (1 month LIBOR + 3.750%) 6.274%, 02/01/2028 | | 436,326 | | | 423,236 |
| Redstone Holdco 2 LP, 2021 Term Loan (3 month LIBOR + 4.750%) 7.533%, 04/27/2028 | | 496,250 | | | 421,813 |
High Yield Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| TERM LOANS (G) (continued) | | | |
| Information technology (continued) | | | | | |
| Redstone Holdco 2 LP , 2021 2nd Lien Term Loan (3 month LIBOR + 7.750%) 10.519%, 04/27/2029 | $ | 570,000 | | $ | 472,815 |
| | | | | | 3,554,079 |
| Materials – 0.2% | | | | | |
| Arctic Canadian Diamond Company, Ltd., 2nd Lien PIK Term Loan (3 month LIBOR + 4.000% or 12.500% PIK) 5.000%, 12/31/2027 (H) | | 524,220 | | | 427,501 |
| TOTAL TERM LOANS (Cost $12,675,015) | | $ | 11,820,641 |
| ASSET BACKED SECURITIES – 7.2% | | | |
AIG CLO, Ltd.
Series 2018-1A, Class DR (3 month LIBOR + 3.100%)
5.810%, 04/20/2032 (A)(D) | | 320,000 | | | 294,693 |
Aimco CLO, Ltd.
Series 2020-12A, Class DR (3 month CME Term SOFR + 2.900%)
5.381%, 01/17/2032 (A)(D) | | 440,000 | | | 411,562 |
AMMC CLO, Ltd.
Series 2017-20A, Class E (3 month LIBOR + 5.810%)
8.550%, 04/17/2029 (A)(D) | | 700,000 | | | 650,416 |
Ares CLO, Ltd.
Series 2017-44A, Class CR (3 month LIBOR + 3.400%)
5.912%, 04/15/2034 (A)(D) | | 410,000 | | | 390,434 |
| Ballyrock CLO, Ltd. | | | | | |
Series 2016-1A, Class ER (3 month LIBOR + 6.950%)
9.462%, 10/15/2028 (A)(D) | | 250,000 | | | 234,019 |
Series 2022-19A, Class D (3 month CME Term SOFR + 7.110%)
8.282%, 04/20/2035 (A)(D) | | 900,000 | | | 792,455 |
| Barings CLO, Ltd. | | | | | |
Series 2018-3A, Class D (3 month LIBOR + 2.900%)
5.610%, 07/20/2029 (A)(D) | | 250,000 | | | 234,599 |
Series 2020-4A, Class E (3 month LIBOR + 5.680%)
8.390%, 01/20/2032 (A)(D) | | 350,000 | | | 317,705 |
Battalion CLO, Ltd.
Series 2021-20A, Class D (3 month LIBOR + 3.100%)
5.612%, 07/15/2034 (A)(D) | | 250,000 | | | 224,600 |
BlueMountain CLO XXXI, Ltd.
Series 2021-31A, Class E (3 month LIBOR + 6.530%)
9.268%, 04/19/2034 (A)(D) | | 170,000 | | | 153,329 |
BlueMountain CLO, Ltd.
Series 2016-2A, Class DR (3 month LIBOR + 7.790%)
10.774%, 08/20/2032 (A)(D) | | 375,000 | | | 334,812 |
Bristol Park CLO, Ltd.
Series 2016-1A, Class ER (3 month LIBOR + 7.000%)
9.512%, 04/15/2029 (A)(D) | | 400,000 | | | 370,775 |
Cathedral Lake VI, Ltd.
Series 2021-6A, Class E (3 month LIBOR + 7.210%)
9.993%, 04/25/2034 (A)(D) | | 125,000 | | | 108,727 |
| The accompanying notes are an integral part of the financial statements. | 41 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
High Yield Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| ASSET BACKED SECURITIES (continued) | | | |
Cook Park CLO, Ltd.
Series 2018-1A, Class E (3 month LIBOR + 5.400%)
8.140%, 04/17/2030 (A)(D) | $ | 750,000 | | $ | 668,738 |
Dryden CLO, Ltd.
Series 2018-70A, Class E (3 month LIBOR + 6.050%)
8.790%, 01/16/2032 (A)(D) | | 750,000 | | | 686,375 |
Dryden Senior Loan Fund
Series 2015-40A, Class DR (3 month LIBOR + 3.100%)
6.005%, 08/15/2031 (A)(D) | | 250,000 | | | 234,837 |
| Greenwood Park CLO, Ltd. | | | | | |
Series 2018-1A, Class D (3 month LIBOR + 2.500%)
5.012%, 04/15/2031 (A)(D) | | 530,000 | | | 483,444 |
Series 2018-1A, Class E (3 month LIBOR + 4.950%)
7.462%, 04/15/2031 (A)(D) | | 750,000 | | | 663,372 |
Greywolf CLO IV, Ltd.
Series 2019-1A, Class CR (3 month CME Term SOFR + 3.910%)
6.390%, 04/17/2034 (A)(D) | | 390,000 | | | 359,826 |
Grippen Park CLO, Ltd.
Series 2017-1A, Class E (3 month LIBOR + 5.700%)
8.410%, 01/20/2030 (A)(D) | | 440,000 | | | 397,126 |
Halsey Point CLO I, Ltd.
Series 2019-1A, Class E (3 month LIBOR + 7.700%)
10.410%, 01/20/2033 (A)(D) | | 600,000 | | | 545,854 |
Jay Park CLO, Ltd.
Series 2016-1A, Class DR (3 month LIBOR + 5.200%)
7.910%, 10/20/2027 (A)(D) | | 450,000 | | | 412,925 |
LCM XXII, Ltd.
Series 2022-A, Class DR (3 month LIBOR + 5.500%)
8.210%, 10/20/2028 (A)(D) | | 500,000 | | | 426,228 |
Madison Park Funding XIII, Ltd.
Series 2014-13A, Class DR2 (3 month LIBOR + 2.850%)
5.588%, 04/19/2030 (A)(D) | | 1,000,000 | | | 943,277 |
Magnetite XXIV, Ltd.
Series 2019-24A, Class ER (3 month CME Term SOFR + 6.400%)
8.728%, 04/15/2035 (A)(D) | | 250,000 | | | 224,177 |
Mountain View CLO IX, Ltd.
Series 2015-9A, Class CR (3 month LIBOR + 3.120%)
5.632%, 07/15/2031 (A)(D) | | 670,000 | | | 580,830 |
Neuberger Berman Loan Advisers CLO, Ltd.
Series 2017-25A, Class DR (3 month LIBOR + 2.850%)
5.590%, 10/18/2029 (A)(D) | | 250,000 | | | 233,820 |
Oaktree CLO, Ltd.
Series 2019-1A, Class D (3 month LIBOR + 3.800%)
6.559%, 04/22/2030 (A)(D) | | 250,000 | | | 223,019 |
OZLM XI, Ltd.
Series 2015-11A, Class CR (3 month LIBOR + 3.600%)
6.382%, 10/30/2030 (A)(D) | | 1,000,000 | | | 903,272 |
High Yield Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| ASSET BACKED SECURITIES (continued) | | | |
Rockland Park CLO, Ltd.
Series 2021-1A, Class E (3 month LIBOR + 6.250%)
8.960%, 04/20/2034 (A)(D) | $ | 200,000 | | $ | 182,438 |
Sculptor CLO XXVI, Ltd.
Series 2026-A, Class E (3 month LIBOR + 7.250%)
9.960%, 07/20/2034 (A)(D) | | 390,000 | | | 346,661 |
Shackleton CLO, Ltd.
Series 2013-3A, Class DR (3 month LIBOR + 3.020%)
5.532%, 07/15/2030 (A)(D) | | 500,000 | | | 452,049 |
Symphony CLO XXII, Ltd.
Series 2020-22A, Class D (3 month LIBOR + 3.150%)
5.890%, 04/18/2033 (A)(D) | | 500,000 | | | 471,008 |
TCI-Symphony CLO, Ltd.
Series 2016-1A, Class DR2 (3 month LIBOR + 3.100%)
5.555%, 10/13/2032 (A)(D) | | 600,000 | | | 551,485 |
Voya CLO, Ltd.
Series 2017-1A, Class C (3 month LIBOR + 3.330%)
6.070%, 04/17/2030 (A)(D) | | 500,000 | | | 458,668 |
| TOTAL ASSET BACKED SECURITIES (Cost $16,144,824) | | | $ | 14,967,555 |
| COMMON STOCKS – 0.7% | | | | |
| Communication services – 0.0% | | | | | |
| New Cotai, Inc., Class B (H)(I)(J) | | 11 | | | 0 |
| Energy – 0.7% | | | | | |
| Berry Corp. | | 75,327 | | | 689,242 |
| Chord Energy Corp. | | 4,634 | | | 655,943 |
| KCAD Holdings I, Ltd. (H)(I)(J) | | 752,218,031 | | | 752 |
| MWO Holdings LLC (H)(I)(J) | | 1,134 | | | 7,053 |
| Permian Production (J) | | 35,417 | | | 21,250 |
| | | | | | 1,374,240 |
| TOTAL COMMON STOCKS (Cost $8,324,154) | | $ | 1,374,240 |
| PREFERRED SECURITIES – 0.7% | | | | |
| Energy – 0.3% | | | | | |
| MPLX LP, 8.461% (H) | | 17,615 | | | 563,680 |
| Financials – 0.4% | | | | | |
| B. Riley Financial, Inc., 5.000% | | 18,075 | | | 406,326 |
| B. Riley Financial, Inc., 5.250% (B) | | 13,100 | | | 277,982 |
| B. Riley Financial, Inc., 6.000% | | 11,650 | | | 264,222 |
| | | | | | 948,530 |
| TOTAL PREFERRED SECURITIES (Cost $1,643,113) | | $ | 1,512,210 |
| ESCROW CERTIFICATES – 0.0% | | | | | |
| Magellan Health, Inc. (H)(J) | $ | 4,380,000 | | | 0 |
| TOTAL ESCROW CERTIFICATES (Cost $0) | | $ | 0 |
| SHORT-TERM INVESTMENTS – 1.1% | | | |
| Short-term funds – 1.1% | | | | | |
| John Hancock Collateral Trust, 2.3160% (K)(L) | | 237,693 | | | 2,375,359 |
| State Street Institutional Treasury Plus Money Market Fund, Premier Class, 2.2458% (K) | | 1,294 | | | 1,294 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $2,377,625) | | $ | 2,376,653 |
Total Investments (High Yield Fund)
(Cost $249,359,497) – 98.8% | | $ | 205,488,030 |
| Other assets and liabilities, net – 1.2% | | | | 2,407,131 |
| TOTAL NET ASSETS – 100.0% | | | | $ | 207,895,161 |
| The accompanying notes are an integral part of the financial statements. | 42 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
High Yield Fund (continued)
| Currency Abbreviations |
| BRL | Brazilian Real |
| CAD | Canadian Dollar |
| GBP | Pound Sterling |
| IDR | Indonesian Rupiah |
| Security Abbreviations and Legend |
| CME | Chicago Mercantile Exchange |
| CMT | Constant Maturity Treasury |
| LIBOR | London Interbank Offered Rate |
| PIK | Pay-in-Kind Security - Represents a payment-in-kind which may pay interest in additional par and/or cash. Rates shown are the current rate and most recent payment rate. |
| SOFR | Secured Overnight Financing Rate |
| SONIA | Sterling Overnight Interbank Average Rate |
| (A) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. Rule 144A securities amounted to $149,249,988 or 71.8% of the fund's net assets as of 8-31-22. |
| (B) | All or a portion of this security is on loan as of 8-31-22. |
High Yield Fund (continued)
| (C) | Non-income producing - Issuer is in default. |
| (D) | Variable rate obligation. The coupon rate shown represents the rate at period end. |
| (E) | Perpetual bonds have no stated maturity date. Date shown as maturity date is next call date. |
| (F) | Zero coupon bonds are issued at a discount from their principal amount in lieu of paying interest periodically. Rate shown is the effective yield at period end. |
| (G) | Term loans are variable rate obligations. The coupon rate shown represents the rate at period end. |
| (H) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements. |
| (I) | Restricted security as to resale, excluding 144A securities. For more information on this security refer to the Notes to financial statements. |
| (J) | Non-income producing security. |
| (K) | The rate shown is the annualized seven-day yield as of 8-31-22. |
| (L) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |
DERIVATIVES
FUTURES
| Open contracts | Number of
contracts | Position | Expiration
date | Notional
basis^ | Notional
value^ | Unrealized
appreciation
(depreciation) |
| 5-Year U.S. Treasury Note Futures | 117 | Long | Dec 2022 | $13,035,723 | $12,965,977 | $(69,746) |
| | | | | | | $(69,746) |
^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.
FORWARD FOREIGN CURRENCY CONTRACTS
| Contract to buy | Contract to sell | Counterparty (OTC) | Contractual
settlement
date | Unrealized
appreciation | Unrealized
depreciation |
| GBP | 587,667 | USD | 708,244 | MSCS | 10/18/2022 | — | $(24,938) |
| MXN | 3,526,523 | USD | 168,371 | MSCS | 10/18/2022 | $5,141 | — |
| USD | 154,992 | CAD | 200,571 | BNP | 10/18/2022 | 2,321 | — |
| USD | 257,491 | EUR | 254,004 | BNP | 10/18/2022 | 1,444 | — |
| | | | | | | $8,906 | $(24,938) |
SWAPS
| Credit default swaps - Buyer |
Counterparty
(OTC)/
Centrally
cleared | Reference
obligation | Notional
amount | Currency | USD
notional
amount | Pay
fixed
rate | Fixed
payment
frequency | Maturity
date | Unamortized
upfront
payment
paid
(received) | Unrealized
appreciation
(depreciation) | Value |
| Centrally cleared | Beazer Homes USA, Inc. | 590,000 | USD | $590,000 | 5.000% | Quarterly | Jun 2027 | $11,903 | $26,994 | $38,897 |
| Centrally cleared | KB Home | 830,000 | USD | 830,000 | 5.000% | Quarterly | Jun 2027 | (59,804) | 27,973 | (31,831) |
| Centrally cleared | Macy's Retail Holdings LLC | 590,000 | USD | 590,000 | 1.000% | Quarterly | Jun 2027 | 64,507 | 26,279 | 90,786 |
| Centrally cleared | NOVA Chemicals Corp. | 441,000 | USD | 441,000 | 5.000% | Quarterly | Jun 2027 | (10,594) | 2,139 | (8,455) |
| Centrally cleared | The Goodyear Tire & Rubber Company | 590,000 | USD | 590,000 | 5.000% | Quarterly | Jun 2027 | (10,259) | (21,317) | (31,576) |
| Centrally cleared | Xerox Holdings Corp. | 237,000 | USD | 237,000 | 1.000% | Quarterly | Jun 2027 | 32,254 | (6,903) | 25,351 |
| | | | | $3,278,000 | | | | $28,007 | $55,165 | $83,172 |
| The accompanying notes are an integral part of the financial statements. | 43 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
High Yield Fund (continued)
| Credit default swaps - Seller |
Counterparty
(OTC)/
Centrally
cleared | Reference
obligation | Implied
credit
spread | Notional
amount | Currency | USD
notional
amount | Received
fixed
rate | Fixed
payment
frequency | Maturity
date | Unamortized
upfront
payment
paid
(received) | Unrealized
appreciation
(depreciation) | Value |
| Centrally cleared | Occidental Petroleum Corp. | 1.014% | 810,000 | USD | $810,000 | 1.000% | Quarterly | Jun 2026 | $(28,323) | $29,542 | $1,219 |
| Centrally cleared | Ford Motor Credit Company LLC | 4.993% | 1,000,000 | USD | 1,000,000 | 5.000% | Quarterly | Dec 2026 | 132,996 | (126,084) | 6,912 |
| | | | | | $1,810,000 | | | | $104,673 | $(96,542) | $8,131 |
| Derivatives Currency Abbreviations |
| CAD | Canadian Dollar |
| EUR | Euro |
| GBP | Pound Sterling |
| MXN | Mexican Peso |
| USD | U.S. Dollar |
| Derivatives Abbreviations |
| BNP | BNP Paribas |
| MSCS | Morgan Stanley Capital Services LLC |
| OTC | Over-the-counter |
See Notes to financial statements regarding investment transactions and other derivatives information.
International Strategic Equity Allocation Fund
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS - 94.1% | | | |
| Australia - 5.7% | | | | | |
| Ampol, Ltd. | | 48,981 | | $ | 1,151,271 |
| APA Group | | 243,224 | | | 1,834,115 |
| Aristocrat Leisure, Ltd. | | 125,074 | | | 3,018,849 |
| ASX, Ltd. | | 40,580 | | | 2,160,173 |
| Aurizon Holdings, Ltd. | | 383,999 | | | 971,187 |
| Australia & New Zealand Banking Group, Ltd. | | 618,376 | | | 9,559,226 |
| BHP Group, Ltd. | | 1,049,697 | | | 28,635,833 |
| BlueScope Steel, Ltd. | | 102,620 | | | 1,151,382 |
| Brambles, Ltd. | | 297,188 | | | 2,501,210 |
| Cochlear, Ltd. | | 13,607 | | | 1,980,873 |
| Coles Group, Ltd. | | 275,800 | | | 3,301,109 |
| Commonwealth Bank of Australia | | 354,198 | | | 23,406,270 |
| Computershare, Ltd. | | 112,773 | | | 1,880,801 |
| CSL, Ltd. | | 99,939 | | | 19,989,628 |
| Dexus | | 225,120 | | | 1,331,583 |
| Domino's Pizza Enterprises, Ltd. | | 12,443 | | | 536,321 |
| Endeavour Group, Ltd. | | 277,544 | | | 1,373,519 |
| Evolution Mining, Ltd. | | 375,028 | | | 602,692 |
| Fortescue Metals Group, Ltd. | | 350,675 | | | 4,358,050 |
| Goodman Group | | 349,673 | | | 4,649,960 |
| IDP Education, Ltd. | | 43,241 | | | 851,271 |
| Insurance Australia Group, Ltd. | | 521,487 | | | 1,647,854 |
| Lendlease Corp., Ltd. | | 141,805 | | | 988,173 |
| Macquarie Group, Ltd. | | 76,075 | | | 9,102,650 |
| Medibank Private, Ltd. | | 577,450 | | | 1,454,582 |
| Mineral Resources, Ltd. | | 35,101 | | | 1,495,567 |
| Mirvac Group | | 822,625 | | | 1,171,530 |
| MMG, Ltd. (A) | | 552,000 | | | 151,005 |
| National Australia Bank, Ltd. | | 671,348 | | | 13,921,199 |
| Newcrest Mining, Ltd. | | 183,627 | | | 2,207,509 |
| Northern Star Resources, Ltd. | | 239,111 | | | 1,263,763 |
| Orica, Ltd. | | 85,102 | | | 890,182 |
| Origin Energy, Ltd. | | 362,570 | | | 1,544,211 |
| Qantas Airways, Ltd. (A) | | 192,982 | | | 693,527 |
| QBE Insurance Group, Ltd. | | 314,611 | | | 2,579,427 |
| Ramsay Health Care, Ltd. | | 37,966 | | | 1,850,312 |
| REA Group, Ltd. | | 10,892 | | | 939,313 |
International Strategic Equity Allocation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| Australia (continued) | | | | | |
| Reece, Ltd. | | 46,510 | | $ | 503,539 |
| Rio Tinto, Ltd. | | 77,281 | | | 4,908,392 |
| Santos, Ltd. | | 661,368 | | | 3,530,580 |
| Scentre Group | | 1,080,548 | | | 2,147,374 |
| SEEK, Ltd. | | 69,504 | | | 980,613 |
| Sonic Healthcare, Ltd. | | 94,430 | | | 2,183,700 |
| South32, Ltd. | | 965,241 | | | 2,657,999 |
| Stockland | | 496,371 | | | 1,221,009 |
| Suncorp Group, Ltd. | | 267,606 | | | 1,976,343 |
| Telstra Corp., Ltd. | | 854,137 | | | 2,309,801 |
| The GPT Group | | 401,617 | | | 1,144,412 |
| The Lottery Corp, Ltd. (A) | | 462,001 | | | 1,388,637 |
| Transurban Group | | 635,582 | | | 6,030,083 |
| Treasury Wine Estates, Ltd. | | 149,915 | | | 1,344,781 |
| Vicinity Centres | | 805,365 | | | 1,054,395 |
| Washington H. Soul Pattinson & Company, Ltd. | | 44,014 | | | 767,084 |
| Wesfarmers, Ltd. | | 235,064 | | | 7,519,469 |
| Westpac Banking Corp. | | 725,152 | | | 10,643,471 |
| WiseTech Global, Ltd. | | 30,404 | | | 1,200,945 |
| Woodside Energy Group, Ltd. | | 390,391 | | | 9,068,229 |
| Woolworths Group, Ltd. | | 250,732 | | | 6,181,249 |
| | | | | | 225,908,232 |
| Austria - 0.1% | | | | | |
| Erste Group Bank AG | | 77,756 | | | 1,748,565 |
| OMV AG | | 32,842 | | | 1,323,285 |
| Verbund AG | | 15,204 | | | 1,452,864 |
| voestalpine AG | | 26,261 | | | 528,440 |
| | | | | | 5,053,154 |
| Belgium - 0.2% | | | | | |
| Ageas SA/NV | | 15,978 | | | 648,319 |
| Anheuser-Busch InBev SA/NV | | 76,257 | | | 3,682,811 |
| D'ieteren Group | | 2,196 | | | 331,052 |
| Elia Group SA/NV | | 2,684 | | | 389,910 |
| Groupe Bruxelles Lambert SA | | 8,880 | | | 671,297 |
| KBC Group NV | | 21,129 | | | 1,007,700 |
| The accompanying notes are an integral part of the financial statements. | 44 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
International Strategic Equity Allocation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| Belgium (continued) | | | | | |
| Proximus SADP | | 12,724 | | $ | 161,965 |
| Sofina SA | | 1,401 | | | 280,839 |
| Solvay SA | | 6,604 | | | 533,119 |
| UCB SA | | 11,169 | | | 784,813 |
| Umicore SA | | 18,027 | | | 573,010 |
| Warehouses De Pauw CVA | | 12,816 | | | 389,955 |
| | | | | | 9,454,790 |
| Brazil - 1.2% | | | | | |
| Ambev SA | | 905,200 | | | 2,656,928 |
| Americanas SA | | 123,910 | | | 389,184 |
| Atacadao SA | | 94,700 | | | 359,512 |
| B3 SA - Brasil Bolsa Balcao | | 1,179,160 | | | 2,685,885 |
| Banco Bradesco SA | | 281,138 | | | 855,995 |
| Banco BTG Pactual SA | | 228,300 | | | 1,116,837 |
| Banco do Brasil SA | | 165,400 | | | 1,325,451 |
| Banco Santander Brasil SA | | 69,500 | | | 392,360 |
| BB Seguridade Participacoes SA | | 137,400 | | | 746,900 |
| BRF SA (A) | | 114,600 | | | 349,148 |
| CCR SA | | 228,900 | | | 606,745 |
| Centrais Eletricas Brasileiras SA | | 196,000 | | | 1,737,191 |
| Cia de Saneamento Basico do Estado de Sao Paulo | | 65,100 | | | 615,036 |
| Cia Siderurgica Nacional SA | | 131,300 | | | 348,289 |
| Cosan SA | | 230,000 | | | 883,323 |
| CPFL Energia SA | | 43,300 | | | 291,058 |
| Energisa SA | | 36,400 | | | 295,893 |
| Engie Brasil Energia SA | | 35,425 | | | 275,779 |
| Equatorial Energia SA | | 192,200 | | | 893,318 |
| Hapvida Participacoes e Investimentos S/A (B) | | 886,109 | | | 1,239,980 |
| Hypera SA | | 79,600 | | | 658,998 |
| JBS SA | | 159,500 | | | 907,198 |
| Klabin SA | | 142,200 | | | 514,691 |
| Localiza Rent a Car SA | | 140,645 | | | 1,644,247 |
| Lojas Renner SA | | 189,242 | | | 962,870 |
| Magazine Luiza SA (A) | | 584,900 | | | 480,071 |
| Natura & Company Holding SA | | 171,500 | | | 475,363 |
| Petro Rio SA (A) | | 131,300 | | | 689,259 |
| Petroleo Brasileiro SA | | 704,200 | | | 5,031,354 |
| Raia Drogasil SA | | 203,800 | | | 852,431 |
| Rede D'Or Sao Luiz SA (B) | | 76,500 | | | 490,109 |
| Rumo SA | | 246,100 | | | 956,036 |
| Suzano SA | | 142,127 | | | 1,209,161 |
| Telefonica Brasil SA | | 96,300 | | | 761,530 |
| TIM SA | | 164,500 | | | 374,065 |
| TOTVS SA | | 100,000 | | | 548,785 |
| Ultrapar Participacoes SA | | 137,500 | | | 357,599 |
| Vale SA | | 763,338 | | | 9,463,959 |
| Vibra Energia SA | | 222,400 | | | 784,881 |
| WEG SA | | 319,940 | | | 1,739,794 |
| | | | | | 46,967,213 |
| Canada - 10.1% | | | | | |
| Agnico Eagle Mines, Ltd. | | 104,208 | | | 4,297,335 |
| Air Canada (A) | | 43,826 | | | 590,309 |
| Algonquin Power & Utilities Corp. | | 160,742 | | | 2,207,931 |
| Alimentation Couche-Tard, Inc. | | 193,265 | | | 8,305,384 |
| AltaGas, Ltd. | | 65,143 | | | 1,404,690 |
| ARC Resources, Ltd. | | 157,119 | | | 2,168,932 |
| Atco, Ltd., Class I | | 1,268 | | | 44,894 |
| Bank of Montreal | | 148,803 | | | 13,737,666 |
| Barrick Gold Corp. (C) | | 405,996 | | | 6,028,037 |
| BCE, Inc. (C) | | 20,413 | | | 985,096 |
| BlackBerry, Ltd. (A) | | 125,327 | | | 744,318 |
International Strategic Equity Allocation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| Canada (continued) | | | | | |
| Brookfield Asset Management Reinsurance Partners, Ltd., Class A (A)(C) | | 1,027 | | $ | 49,546 |
| Brookfield Asset Management, Inc., Class A | | 323,072 | | | 15,541,698 |
| BRP, Inc. | | 8,966 | | | 621,855 |
| CAE, Inc. (A) | | 73,563 | | | 1,343,161 |
| Cameco Corp. | | 90,893 | | | 2,649,244 |
| Canadian Apartment Properties REIT | | 22,029 | | | 749,256 |
| Canadian Imperial Bank of Commerce | | 207,430 | | | 9,809,630 |
| Canadian National Railway Company | | 135,489 | | | 16,113,014 |
| Canadian Natural Resources, Ltd. | | 268,136 | | | 14,699,655 |
| Canadian Pacific Railway, Ltd. | | 211,802 | | | 15,855,920 |
| Canadian Tire Corp., Ltd., Class A | | 13,430 | | | 1,579,573 |
| Canadian Utilities, Ltd., Class A | | 31,761 | | | 971,681 |
| CCL Industries, Inc., Class B | | 35,906 | | | 1,761,194 |
| Cenovus Energy, Inc. | | 318,419 | | | 5,973,917 |
| CGI, Inc. (A) | | 50,629 | | | 4,009,149 |
| CI Financial Corp. | | 3,481 | | | 38,167 |
| Constellation Software, Inc. | | 4,652 | | | 7,002,777 |
| Dollarama, Inc. | | 65,031 | | | 3,960,239 |
| Emera, Inc. | | 61,548 | | | 2,847,887 |
| Empire Company, Ltd., Class A | | 39,394 | | | 1,122,115 |
| Enbridge, Inc. | | 463,648 | | | 19,119,942 |
| Fairfax Financial Holdings, Ltd. | | 5,856 | | | 2,919,372 |
| First Capital Real Estate Investment Trust (C) | | 2,485 | | | 28,609 |
| First Quantum Minerals, Ltd. | | 135,297 | | | 2,394,108 |
| FirstService Corp. | | 9,268 | | | 1,159,356 |
| Fortis, Inc. | | 109,946 | | | 4,850,399 |
| Franco-Nevada Corp. | | 43,652 | | | 5,248,145 |
| George Weston, Ltd. | | 17,169 | | | 1,962,862 |
| GFL Environmental, Inc. | | 41,694 | | | 1,174,613 |
| Gildan Activewear, Inc. | | 45,993 | | | 1,360,162 |
| Great-West Lifeco, Inc. (C) | | 74,752 | | | 1,755,891 |
| Hydro One, Ltd. (B)(C) | | 78,261 | | | 2,118,979 |
| iA Financial Corp., Inc. | | 27,703 | | | 1,488,138 |
| IGM Financial, Inc. | | 25,078 | | | 682,635 |
| Imperial Oil, Ltd. (C) | | 54,086 | | | 2,654,573 |
| Intact Financial Corp. | | 40,914 | | | 5,926,743 |
| Ivanhoe Mines, Ltd., Class A (A) | | 139,591 | | | 897,056 |
| Keyera Corp. | | 51,661 | | | 1,272,890 |
| Kinross Gold Corp. | | 290,537 | | | 953,451 |
| Lightspeed Commerce, Inc. (A) | | 30,996 | | | 593,086 |
| Loblaw Companies, Ltd. | | 38,647 | | | 3,415,508 |
| Lundin Mining Corp. | | 155,917 | | | 810,837 |
| Magna International, Inc. | | 65,919 | | | 3,808,029 |
| Metro, Inc. | | 56,221 | | | 2,957,130 |
| National Bank of Canada | | 78,447 | | | 5,189,980 |
| Northland Power, Inc. | | 52,941 | | | 1,812,333 |
| Nutrien, Ltd. | | 125,622 | | | 11,532,527 |
| Nuvei Corp. (A)(B) | | 15,590 | | | 477,072 |
| Onex Corp. | | 19,441 | | | 961,429 |
| Open Text Corp. | | 64,103 | | | 2,019,219 |
| Pan American Silver Corp. (C) | | 48,975 | | | 728,649 |
| Parkland Corp. | | 36,177 | | | 888,070 |
| Pembina Pipeline Corp. | | 126,630 | | | 4,471,846 |
| Power Corp. of Canada | | 136,146 | | | 3,500,705 |
| Quebecor, Inc., Class B | | 38,589 | | | 833,571 |
| Restaurant Brands International, Inc. | | 68,241 | | | 4,028,419 |
| RioCan Real Estate Investment Trust | | 41,475 | | | 635,696 |
| Ritchie Brothers Auctioneers, Inc. | | 25,366 | | | 1,757,185 |
| Rogers Communications, Inc., Class B | | 82,731 | | | 3,562,217 |
| Royal Bank of Canada | | 323,753 | | | 30,106,182 |
| Saputo, Inc. | | 58,254 | | | 1,479,248 |
| The accompanying notes are an integral part of the financial statements. | 45 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
International Strategic Equity Allocation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| Canada (continued) | | | | | |
| Shaw Communications, Inc., Class B | | 110,149 | | $ | 2,824,699 |
| Shopify, Inc., Class A (A) | | 259,230 | | | 8,207,091 |
| SmartCentres Real Estate Investment Trust | | 2,374 | | | 50,558 |
| Sun Life Financial, Inc. | | 140,845 | | | 6,204,966 |
| Suncor Energy, Inc. (C) | | 326,619 | | | 10,566,902 |
| TC Energy Corp. | | 224,253 | | | 10,806,695 |
| Teck Resources, Ltd., Class B | | 108,775 | | | 3,683,947 |
| TELUS Corp. | | 109,403 | | | 2,464,035 |
| TFI International, Inc. | | 19,135 | | | 1,909,056 |
| The Bank of Nova Scotia | | 278,180 | | | 15,381,606 |
| The Toronto-Dominion Bank | | 415,258 | | | 26,714,241 |
| Thomson Reuters Corp. | | 39,509 | | | 4,350,548 |
| TMX Group, Ltd. | | 13,451 | | | 1,350,887 |
| Toromont Industries, Ltd. | | 19,369 | | | 1,499,260 |
| Tourmaline Oil Corp. | | 71,496 | | | 4,227,102 |
| West Fraser Timber Company, Ltd. | | 14,213 | | | 1,271,578 |
| Wheaton Precious Metals Corp. | | 103,452 | | | 3,157,872 |
| WSP Global, Inc. | | 27,068 | | | 3,225,654 |
| | | | | | 398,647,829 |
| Chile - 0.1% | | | | | |
| Antofagasta PLC | | 97,042 | | | 1,234,748 |
| Banco de Chile | | 8,841,267 | | | 838,798 |
| Banco de Credito e Inversiones SA | | 11,510 | | | 339,042 |
| Banco Santander Chile | | 12,342,817 | | | 495,778 |
| Cencosud SA | | 277,395 | | | 387,811 |
| Cia Cervecerias Unidas SA | | 24,812 | | | 134,839 |
| Cia Sud Americana de Vapores SA | | 3,024,911 | | | 284,688 |
| Empresas CMPC SA | | 222,587 | | | 422,201 |
| Empresas COPEC SA | | 75,737 | | | 653,303 |
| Enel Americas SA | | 4,149,521 | | | 449,560 |
| Enel Chile SA | | 5,415,264 | | | 177,760 |
| Falabella SA | | 148,713 | | | 350,440 |
| | | | | | 5,768,968 |
| China - 9.3% | | | | | |
| 360 DigiTech, Inc., ADR | | 17,000 | | | 271,660 |
| 360 Security Technology, Inc., Class A | | 72,600 | | | 76,789 |
| 37 Interactive Entertainment Network Technology Group Company, Ltd., Class A | | 25,500 | | | 74,845 |
| 3SBio, Inc. (B) | | 284,900 | | | 189,418 |
| AAC Technologies Holdings, Inc. | | 137,200 | | | 254,180 |
| Advanced Micro-Fabrication Equipment, Inc., Class A (A) | | 6,896 | | | 122,605 |
| AECC Aero-Engine Control Company, Ltd., Class A | | 15,100 | | | 58,546 |
| AECC Aviation Power Company, Ltd., Class A | | 30,800 | | | 204,676 |
| Agricultural Bank of China, Ltd., Class A | | 1,014,400 | | | 418,940 |
| Agricultural Bank of China, Ltd., H Shares | | 5,684,600 | | | 1,857,510 |
| Aier Eye Hospital Group Company, Ltd., Class A | | 80,063 | | | 340,177 |
| Air China, Ltd., Class A (A) | | 78,100 | | | 116,328 |
| Air China, Ltd., H Shares (A) | | 328,266 | | | 262,959 |
| Airtac International Group (A) | | 16,000 | | | 429,023 |
| Alibaba Group Holding, Ltd. (A) | | 2,900,700 | | | 34,606,939 |
| A-Living Smart City Services Company, Ltd. (B) | | 121,500 | | | 125,155 |
| Aluminum Corp. of China, Ltd., A Shares | | 138,500 | | | 90,074 |
| Aluminum Corp. of China, Ltd., H Shares | | 759,480 | | | 280,636 |
| Amlogic Shanghai Company, Ltd., Class A (A) | | 4,366 | | | 54,385 |
| Angel Yeast Company, Ltd., Class A | | 9,400 | | | 66,031 |
International Strategic Equity Allocation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| China (continued) | | | | | |
| Anhui Conch Cement Company, Ltd., Class A | | 48,000 | | $ | 221,613 |
| Anhui Conch Cement Company, Ltd., H Shares | | 236,710 | | | 902,068 |
| Anhui Gujing Distillery Company, Ltd., B Shares | | 19,000 | | | 290,110 |
| Anhui Gujing Distillery Company, Ltd., Class A | | 4,900 | | | 180,816 |
| Anhui Honglu Steel Construction Group Company, Ltd., Class A | | 5,840 | | | 24,428 |
| Anhui Kouzi Distillery Company, Ltd., Class A | | 7,000 | | | 51,192 |
| Anhui Yingjia Distillery Company, Ltd., Class A | | 7,500 | | | 58,078 |
| Anjoy Foods Group Company, Ltd., Class A | | 3,300 | | | 74,027 |
| ANTA Sports Products, Ltd. | | 231,300 | | | 2,785,415 |
| Apeloa Pharmaceutical Company, Ltd., Class A | | 12,700 | | | 33,147 |
| Asia - Potash International Investment Guangzhou Company, Ltd., Class A (A) | | 7,000 | | | 34,297 |
| Asymchem Laboratories Tianjin Company, Ltd., Class A | | 3,940 | | | 97,797 |
| Autohome, Inc., ADR | | 14,500 | | | 516,345 |
| Avary Holding Shenzhen Company, Ltd., Class A | | 22,400 | | | 95,829 |
| AVIC Electromechanical Systems Company, Ltd., Class A | | 45,400 | | | 72,835 |
| AVIC Industry-Finance Holdings Company, Ltd., Class A | | 111,500 | | | 54,547 |
| AviChina Industry & Technology Company, Ltd., H Shares | | 482,300 | | | 234,752 |
| AVICOPTER PLC, Class A | | 7,400 | | | 45,154 |
| Baidu, Inc., Class A (A) | | 426,750 | | | 7,617,734 |
| Bank of Beijing Company, Ltd., Class A | | 269,000 | | | 160,910 |
| Bank of Changsha Company, Ltd., Class A | | 53,200 | | | 52,505 |
| Bank of Chengdu Company, Ltd., Class A | | 43,600 | | | 98,946 |
| Bank of China, Ltd., Class A | | 391,200 | | | 172,311 |
| Bank of China, Ltd., H Shares | | 15,305,722 | | | 5,341,213 |
| Bank of Communications Company, Ltd., Class A | | 510,700 | | | 338,780 |
| Bank of Communications Company, Ltd., H Shares | | 1,643,876 | | | 936,630 |
| Bank of Hangzhou Company, Ltd., Class A | | 67,800 | | | 140,617 |
| Bank of Jiangsu Company, Ltd., Class A | | 178,400 | | | 187,037 |
| Bank of Nanjing Company, Ltd., Class A | | 119,300 | | | 183,468 |
| Bank of Ningbo Company, Ltd., Class A | | 75,100 | | | 323,495 |
| Bank of Shanghai Company, Ltd., Class A | | 173,000 | | | 148,040 |
| Baoshan Iron & Steel Company, Ltd., Class A | | 258,100 | | | 199,009 |
| BBMG Corp., Class A | | 79,700 | | | 30,221 |
| BeiGene, Ltd., ADR (A) | | 8,922 | | | 1,531,551 |
| Beijing Capital International Airport Company, Ltd., H Shares (A) | | 339,111 | | | 212,845 |
| Beijing Dabeinong Technology Group Company, Ltd., Class A (A) | | 47,700 | | | 59,639 |
| Beijing Easpring Material Technology Company, Ltd., Class A | | 5,700 | | | 64,516 |
| Beijing Enlight Media Company, Ltd., Class A | | 32,500 | | | 43,428 |
| Beijing Kingsoft Office Software, Inc., Class A | | 5,116 | | | 133,095 |
| Beijing New Building Materials PLC, Class A | | 19,400 | | | 73,665 |
| The accompanying notes are an integral part of the financial statements. | 46 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
International Strategic Equity Allocation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| China (continued) | | | | | |
| Beijing Originwater Technology Company, Ltd., Class A | | 28,200 | | $ | 22,440 |
| Beijing Roborock Technology Company, Ltd., Class A | | 984 | | | 45,489 |
| Beijing Shiji Information Technology Company, Ltd., Class A | | 17,900 | | | 33,782 |
| Beijing Shunxin Agriculture Company, Ltd., Class A | | 9,200 | | | 31,755 |
| Beijing Sinnet Technology Company, Ltd., Class A | | 20,000 | | | 26,834 |
| Beijing Tiantan Biological Products Corp., Ltd., Class A | | 17,580 | | | 56,482 |
| Beijing United Information Technology Company, Ltd., Class A | | 5,130 | | | 73,524 |
| Beijing Wantai Biological Pharmacy Enterprise Company, Ltd., Class A | | 6,335 | | | 117,144 |
| Beijing Yuanliu Hongyuan Electronic Technology Company, Ltd., Class A | | 2,200 | | | 37,722 |
| Beijing-Shanghai High Speed Railway Company, Ltd., Class A | | 450,300 | | | 301,655 |
| Betta Pharmaceuticals Company, Ltd., Class A | | 4,500 | | | 29,510 |
| BGI Genomics Company, Ltd., Class A | | 4,500 | | | 39,303 |
| Bilibili, Inc., Class Z (A) | | 34,860 | | | 867,023 |
| Bloomage Biotechnology Corp, Ltd., Class A | | 3,537 | | | 72,970 |
| BOC International China Company, Ltd., Class A | | 34,500 | | | 62,227 |
| BOE Technology Group Company, Ltd., Class A | | 433,800 | | | 232,049 |
| BTG Hotels Group Company, Ltd., Class A | | 13,600 | | | 42,187 |
| BYD Company, Ltd., Class A | | 20,800 | | | 862,108 |
| BYD Company, Ltd., H Shares | | 157,194 | | | 4,843,986 |
| BYD Electronic International Company, Ltd. | | 128,700 | | | 340,042 |
| By-health Company, Ltd., Class A | | 18,700 | | | 50,435 |
| Caitong Securities Company, Ltd., Class A | | 66,600 | | | 72,987 |
| CanSino Biologics, Inc., Class A | | 1,316 | | | 23,926 |
| CanSino Biologics, Inc., H Shares (B) | | 17,800 | | | 111,100 |
| CECEP Solar Energy Company, Ltd., Class A | | 33,800 | | | 39,407 |
| CECEP Wind-Power Corp., Class A | | 52,800 | | | 38,087 |
| CGN Power Company, Ltd., H Shares (B) | | 2,024,000 | | | 481,361 |
| Chacha Food Company, Ltd., Class A | | 5,800 | | | 39,733 |
| Changchun High & New Technology Industry Group, Inc., Class A | | 4,600 | | | 117,658 |
| Changjiang Securities Company, Ltd., Class A | | 84,300 | | | 69,263 |
| Changzhou Xingyu Automotive Lighting Systems Company, Ltd., Class A | | 3,100 | | | 62,901 |
| Chaozhou Three-Circle Group Company, Ltd., Class A | | 21,700 | | | 84,978 |
| Chengtun Mining Group Company, Ltd., Class A | | 26,800 | | | 27,753 |
| Chengxin Lithium Group Company, Ltd., Class A | | 9,600 | | | 73,594 |
| Chifeng Jilong Gold Mining Company, Ltd., Class A (A) | | 14,300 | | | 40,182 |
| China Baoan Group Company, Ltd., Class A | | 29,200 | | | 62,176 |
| China Cinda Asset Management Company, Ltd., H Shares | | 1,879,300 | | | 258,071 |
| China CITIC Bank Corp., Ltd., H Shares | | 1,720,400 | | | 737,553 |
International Strategic Equity Allocation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| China (continued) | | | | | |
| China Coal Energy Company, Ltd., H Shares | | 388,000 | | $ | 345,036 |
| China Communications Services Corp., Ltd., H Shares | | 478,400 | | | 205,424 |
| China Conch Venture Holdings, Ltd. | | 320,200 | | | 653,460 |
| China Construction Bank Corp., Class A | | 153,500 | | | 122,707 |
| China Construction Bank Corp., H Shares | | 18,418,796 | | | 11,386,194 |
| China CSSC Holdings, Ltd., Class A | | 51,600 | | | 186,751 |
| China Eastern Airlines Corp., Ltd., Class A (A) | | 83,800 | | | 59,506 |
| China Energy Engineering Corp., Ltd. | | 375,900 | | | 122,848 |
| China Everbright Bank Company, Ltd., Class A | | 541,700 | | | 225,096 |
| China Everbright Bank Company, Ltd., H Shares | | 613,595 | | | 188,105 |
| China Evergrande Group (A) | | 667,935 | | | 58,778 |
| China Feihe, Ltd. (B) | | 680,000 | | | 562,806 |
| China Galaxy Securities Company, Ltd., Class A | | 56,800 | | | 81,323 |
| China Galaxy Securities Company, Ltd., H Shares | | 722,600 | | | 395,056 |
| China Great Wall Securities Company, Ltd., Class A | | 38,700 | | | 51,828 |
| China Greatwall Technology Group Company, Ltd., Class A | | 33,900 | | | 44,458 |
| China Hongqiao Group, Ltd. | | 435,800 | | | 422,579 |
| China Huishan Dairy Holdings Company, Ltd. (A)(D) | | 175,000 | | | 0 |
| China International Capital Corp., Ltd., Class A | | 13,300 | | | 80,088 |
| China International Capital Corp., Ltd., H Shares (B) | | 299,800 | | | 527,439 |
| China Jushi Company, Ltd., Class A | | 46,600 | | | 97,134 |
| China Lesso Group Holdings, Ltd. | | 201,000 | | | 238,909 |
| China Life Insurance Company, Ltd., Class A | | 31,700 | | | 140,784 |
| China Life Insurance Company, Ltd., H Shares | | 1,464,276 | | | 2,099,366 |
| China Literature, Ltd. (A)(B) | | 76,200 | | | 308,786 |
| China Longyuan Power Group Corp., Ltd., H Shares | | 637,000 | | | 1,028,861 |
| China Medical System Holdings, Ltd. | | 257,800 | | | 381,539 |
| China Meheco Company, Ltd., Class A | | 18,560 | | | 34,277 |
| China Meidong Auto Holdings, Ltd. | | 106,000 | | | 215,557 |
| China Merchants Bank Company, Ltd., Class A | | 238,900 | | | 1,208,960 |
| China Merchants Bank Company, Ltd., H Shares | | 744,874 | | | 3,809,370 |
| China Merchants Securities Company, Ltd., Class A | | 93,400 | | | 179,041 |
| China Merchants Shekou Industrial Zone Holdings Company, Ltd., Class A | | 92,700 | | | 195,991 |
| China Minmetals Rare Earth Company, Ltd., Class A (A) | | 10,700 | | | 40,627 |
| China Minsheng Banking Corp., Ltd., Class A | | 408,100 | | | 212,849 |
| China Minsheng Banking Corp., Ltd., H Shares | | 1,188,220 | | | 377,971 |
| China National Building Material Company, Ltd., H Shares | | 744,600 | | | 703,104 |
| China National Chemical Engineering Company, Ltd., Class A | | 72,800 | | | 90,621 |
| China National Nuclear Power Company, Ltd., Class A | | 206,600 | | | 190,266 |
| The accompanying notes are an integral part of the financial statements. | 47 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
International Strategic Equity Allocation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| China (continued) | | | | | |
| China Northern Rare Earth Group High-Tech Company, Ltd., Class A | | 40,500 | | $ | 176,126 |
| China Oilfield Services, Ltd., H Shares | | 344,000 | | | 357,290 |
| China Pacific Insurance Group Company, Ltd., Class A | | 86,600 | | | 262,326 |
| China Pacific Insurance Group Company, Ltd., H Shares | | 520,979 | | | 1,103,599 |
| China Petroleum & Chemical Corp., Class A | | 363,000 | | | 224,800 |
| China Petroleum & Chemical Corp., H Shares | | 4,915,439 | | | 2,311,462 |
| China Railway Group, Ltd., Class A | | 243,200 | | | 202,464 |
| China Railway Group, Ltd., H Shares | | 814,800 | | | 466,468 |
| China Railway Signal & Communication Corp., Ltd., Class A | | 58,844 | | | 37,728 |
| China Resources Microelectronics, Ltd., Class A | | 11,988 | | | 90,634 |
| China Resources Mixc Lifestyle Services, Ltd. (B) | | 129,200 | | | 585,892 |
| China Resources Sanjiu Medical & Pharmaceutical Company, Ltd., Class A | | 11,800 | | | 67,410 |
| China Shenhua Energy Company, Ltd., Class A | | 75,700 | | | 332,416 |
| China Shenhua Energy Company, Ltd., H Shares | | 646,900 | | | 2,028,854 |
| China Southern Airlines Company, Ltd., Class A (A) | | 126,600 | | | 117,870 |
| China Southern Airlines Company, Ltd., H Shares (A) | | 337,700 | | | 182,277 |
| China State Construction Engineering Corp., Ltd., Class A | | 508,100 | | | 378,084 |
| China Suntien Green Energy Corp., Ltd., H Shares | | 325,000 | | | 145,761 |
| China Three Gorges Renewables Group Company, Ltd., Class A | | 325,300 | | | 286,914 |
| China Tourism Group Duty Free Corp., Ltd., Class A | | 22,400 | | | 632,879 |
| China Tower Corp., Ltd., H Shares (B) | | 8,480,400 | | | 1,057,488 |
| China United Network Communications, Ltd., Class A | | 354,000 | | | 181,939 |
| China Vanke Company, Ltd., Class A | | 117,100 | | | 282,065 |
| China Vanke Company, Ltd., H Shares | | 323,700 | | | 631,937 |
| China Yangtze Power Company, Ltd., Class A | | 260,000 | | | 902,232 |
| China Zhenhua Group Science & Technology Company, Ltd., Class A | | 5,600 | | | 90,782 |
| China Zheshang Bank Company, Ltd., Class A (A) | | 207,300 | | | 97,593 |
| Chinasoft International, Ltd. (A) | | 528,000 | | | 412,738 |
| Chongqing Brewery Company, Ltd., Class A | | 5,400 | | | 87,218 |
| Chongqing Changan Automobile Company, Ltd., Class A | | 94,210 | | | 197,440 |
| Chongqing Fuling Zhacai Group Company, Ltd., Class A | | 10,800 | | | 47,477 |
| Chongqing Rural Commercial Bank Company, Ltd., Class A | | 147,400 | | | 76,414 |
| Chongqing Zhifei Biological Products Company, Ltd., Class A | | 18,200 | | | 247,419 |
| CIFI Ever Sunshine Services Group, Ltd. | | 142,000 | | | 87,272 |
| CIFI Holdings Group Company, Ltd. | | 789,848 | | | 199,906 |
| CITIC Securities Company, Ltd., Class A | | 150,000 | | | 422,804 |
| CITIC Securities Company, Ltd., H Shares | | 405,300 | | | 821,477 |
| CITIC, Ltd. | | 1,128,933 | | | 1,163,793 |
International Strategic Equity Allocation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| China (continued) | | | | | |
| CMOC Group, Ltd., Class A | | 201,000 | | $ | 142,887 |
| CMOC Group, Ltd., H Shares | | 667,600 | | | 297,694 |
| CNGR Advanced Material Company, Ltd., Class A | | 4,600 | | | 61,932 |
| CNNC Hua Yuan Titanium Dioxide Company, Ltd., Class A | | 34,355 | | | 39,351 |
| Contemporary Amperex Technology Company, Ltd., Class A | | 26,700 | | | 1,854,332 |
| COSCO SHIPPING Development Company, Ltd., Class A | | 116,500 | | | 48,318 |
| COSCO SHIPPING Energy Transportation Company, Ltd., Class A (A) | | 37,200 | | | 75,849 |
| COSCO SHIPPING Holdings Company, Ltd., Class A | | 146,000 | | | 298,904 |
| COSCO SHIPPING Holdings Company, Ltd., H Shares | | 610,389 | | | 911,226 |
| Country Garden Holdings Company, Ltd. | | 1,567,467 | | | 462,710 |
| Country Garden Services Holdings Company, Ltd. | | 384,400 | | | 755,409 |
| CRRC Corp., Ltd., Class A | | 275,200 | | | 199,527 |
| CRRC Corp., Ltd., H Shares | | 869,000 | | | 324,910 |
| CSC Financial Company, Ltd., Class A | | 52,100 | | | 200,330 |
| CSPC Pharmaceutical Group, Ltd. | | 1,713,888 | | | 1,738,609 |
| Daan Gene Company, Ltd., Class A | | 16,700 | | | 42,769 |
| Dali Foods Group Company, Ltd. (B) | | 370,800 | | | 169,512 |
| Daqin Railway Company, Ltd., Class A | | 190,300 | | | 177,789 |
| Daqo New Energy Corp., ADR (A) | | 11,300 | | | 753,371 |
| DaShenLin Pharmaceutical Group Company, Ltd., Class A | | 10,320 | | | 49,854 |
| DHC Software Company, Ltd., Class A | | 28,500 | | | 23,941 |
| Do-Fluoride New Materials Company, Ltd., Class A | | 8,400 | | | 49,201 |
| Dong-E-E-Jiao Company, Ltd., Class A | | 7,700 | | | 38,108 |
| Dongfang Electric Corp., Ltd., Class A | | 32,000 | | | 91,003 |
| Dongfeng Motor Group Company, Ltd., H Shares | | 562,980 | | | 356,956 |
| Dongxing Securities Company, Ltd., Class A | | 59,300 | | | 71,285 |
| Dongyue Group, Ltd. | | 282,000 | | | 316,501 |
| East Money Information Company, Ltd., Class A | | 153,180 | | | 489,793 |
| Ecovacs Robotics Company, Ltd., Class A | | 5,100 | | | 60,113 |
| ENN Energy Holdings, Ltd. | | 150,900 | | | 2,192,188 |
| ENN Natural Gas Company, Ltd., Class A | | 27,300 | | | 81,043 |
| Eve Energy Company, Ltd., Class A | | 21,700 | | | 295,800 |
| Everbright Securities Company, Ltd., Class A | | 46,800 | | | 108,582 |
| Fangda Carbon New Material Company, Ltd., Class A (A) | | 42,700 | | | 43,016 |
| FAW Jiefang Group Company, Ltd., Class A | | 28,300 | | | 33,422 |
| Fiberhome Telecommunication Technologies Company, Ltd., Class A | | 10,700 | | | 22,262 |
| First Capital Securities Company, Ltd., Class A | | 58,300 | | | 51,849 |
| Flat Glass Group Company, Ltd., Class A (A) | | 18,800 | | | 108,706 |
| Flat Glass Group Company, Ltd., H Shares | | 82,000 | | | 270,082 |
| Focus Media Information Technology Company, Ltd., Class A | | 165,400 | | | 144,711 |
| Foshan Haitian Flavouring & Food Company, Ltd., Class A | | 44,070 | | | 513,763 |
| Fosun International, Ltd. | | 482,500 | | | 356,149 |
| Founder Securities Company, Ltd., Class A | | 102,300 | | | 102,858 |
| The accompanying notes are an integral part of the financial statements. | 48 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
International Strategic Equity Allocation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| China (continued) | | | | | |
| Foxconn Industrial Internet Company, Ltd., Class A | | 118,000 | | $ | 158,576 |
| Fujian Sunner Development Company, Ltd., Class A | | 14,000 | | | 45,208 |
| Fuyao Glass Industry Group Company, Ltd., Class A | | 23,100 | | | 130,669 |
| Fuyao Glass Industry Group Company, Ltd., H Shares (B) | | 114,000 | | | 543,990 |
| Ganfeng Lithium Company, Ltd., Class A | | 18,360 | | | 226,767 |
| Ganfeng Lithium Company, Ltd., H Shares (B) | | 69,040 | | | 606,548 |
| G-bits Network Technology Xiamen Company, Ltd., Class A | | 700 | | | 28,850 |
| GCL System Integration Technology Company, Ltd., Class A (A) | | 59,500 | | | 31,538 |
| GD Power Development Company, Ltd., Class A (A) | | 195,800 | | | 123,100 |
| GDS Holdings, Ltd., Class A (A) | | 164,500 | | | 561,814 |
| GEM Company, Ltd., Class A | | 52,700 | | | 63,576 |
| Gemdale Corp., Class A | | 56,300 | | | 95,055 |
| Genscript Biotech Corp. (A) | | 219,400 | | | 704,755 |
| GF Securities Company, Ltd., Class A | | 71,500 | | | 169,377 |
| GF Securities Company, Ltd., H Shares | | 222,800 | | | 291,045 |
| Giant Network Group Company, Ltd., Class A | | 23,600 | | | 29,345 |
| GigaDevice Semiconductor, Inc., Class A | | 7,400 | | | 123,652 |
| Ginlong Technologies Company, Ltd., Class A | | 4,200 | | | 138,862 |
| GoerTek, Inc., Class A | | 39,100 | | | 183,577 |
| Gotion High-tech Company, Ltd., Class A | | 18,900 | | | 93,502 |
| Great Wall Motor Company, Ltd., Class A | | 24,800 | | | 119,808 |
| Great Wall Motor Company, Ltd., H Shares | | 593,650 | | | 890,672 |
| Gree Electric Appliances, Inc. of Zhuhai, Class A | | 37,600 | | | 173,489 |
| Greentown China Holdings, Ltd. | | 166,000 | | | 313,207 |
| Greentown Service Group Company, Ltd. | | 273,000 | | | 197,230 |
| GRG Banking Equipment Company, Ltd., Class A | | 23,100 | | | 29,382 |
| Guangdong Haid Group Company, Ltd., Class A | | 18,800 | | | 166,056 |
| Guangdong Kinlong Hardware Products Company, Ltd., Class A | | 3,400 | | | 46,929 |
| Guanghui Energy Company, Ltd., Class A | | 77,300 | | | 142,036 |
| Guangzhou Automobile Group Company, Ltd., Class A | | 54,300 | | | 109,091 |
| Guangzhou Automobile Group Company, Ltd., H Shares | | 570,426 | | | 490,458 |
| Guangzhou Baiyunshan Pharmaceutical Holdings Company, Ltd., Class A | | 17,700 | | | 69,747 |
| Guangzhou Haige Communications Group, Inc. Company, Class A | | 27,200 | | | 34,367 |
| Guangzhou Kingmed Diagnostics Group Company, Ltd., Class A | | 5,100 | | | 49,208 |
| Guangzhou Shiyuan Electronic Technology Company, Ltd., Class A | | 7,100 | | | 69,449 |
| Guangzhou Tinci Materials Technology Company, Ltd., Class A | | 21,700 | | | 148,885 |
| Guangzhou Yuexiu Financial Holdings Group Company, Ltd., Class A | | 49,545 | | | 46,290 |
| Guolian Securities Company, Ltd., Class A | | 29,000 | | | 46,466 |
| Guosen Securities Company, Ltd., Class A | | 88,400 | | | 118,108 |
| Guotai Junan Securities Company, Ltd., Class A | | 103,400 | | | 221,020 |
International Strategic Equity Allocation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| China (continued) | | | | | |
| Guoyuan Securities Company, Ltd., Class A | | 65,400 | | $ | 69,227 |
| H World Group, Ltd., ADR | | 37,200 | | | 1,399,836 |
| Haidilao International Holding, Ltd. (A)(B) | | 211,000 | | | 496,504 |
| Haier Smart Home Company, Ltd., Class A | | 73,300 | | | 273,686 |
| Haier Smart Home Company, Ltd., H Shares | | 437,040 | | | 1,427,810 |
| Haitian International Holdings, Ltd. | | 120,600 | | | 295,465 |
| Haitong Securities Company, Ltd., Class A | | 125,900 | | | 172,499 |
| Haitong Securities Company, Ltd., H Shares | | 578,000 | | | 378,428 |
| Hangzhou First Applied Material Company, Ltd., Class A | | 15,020 | | | 140,463 |
| Hangzhou Lion Electronics Company, Ltd., Class A | | 7,500 | | | 57,573 |
| Hangzhou Oxygen Plant Group Company, Ltd., Class A | | 10,800 | | | 55,322 |
| Hangzhou Robam Appliances Company, Ltd., Class A | | 11,200 | | | 40,710 |
| Hangzhou Silan Microelectronics Company, Ltd., Class A | | 15,400 | | | 88,031 |
| Hangzhou Tigermed Consulting Company, Ltd., A Shares | | 4,400 | | | 68,796 |
| Hangzhou Tigermed Consulting Company, Ltd., H Shares (B) | | 23,600 | | | 233,660 |
| Hansoh Pharmaceutical Group Company, Ltd. (B) | | 224,000 | | | 446,911 |
| Heilongjiang Agriculture Company, Ltd., Class A | | 19,700 | | | 41,824 |
| Henan Shenhuo Coal & Power Company, Ltd., Class A | | 25,600 | | | 59,347 |
| Henan Shuanghui Investment & Development Company, Ltd., Class A | | 40,100 | | | 155,560 |
| Hengan International Group Company, Ltd. | | 122,200 | | | 584,790 |
| Hengli Petrochemical Company, Ltd., Class A | | 67,600 | | | 187,697 |
| Hengtong Optic-electric Company, Ltd., Class A | | 29,100 | | | 70,695 |
| Hengyi Petrochemical Company, Ltd., Class A | | 41,700 | | | 54,597 |
| Hesteel Company, Ltd., Class A | | 121,800 | | | 42,669 |
| Hithink RoyalFlush Information Network Company, Ltd., Class A | | 6,600 | | | 81,057 |
| Hongfa Technology Company, Ltd., Class A | | 11,820 | | | 64,333 |
| Hoshine Silicon Industry Company, Ltd., Class A | | 5,500 | | | 89,140 |
| Hua Hong Semiconductor, Ltd. (A)(B) | | 111,100 | | | 326,130 |
| Huadian Power International Corp., Ltd., Class A | | 87,900 | | | 69,338 |
| Huadong Medicine Company, Ltd., Class A | | 20,200 | | | 122,926 |
| Huafon Chemical Company, Ltd., Class A | | 56,700 | | | 61,616 |
| Huagong Tech Company, Ltd., Class A | | 10,700 | | | 32,687 |
| Huaibei Mining Holdings Company, Ltd., Class A | | 26,600 | | | 56,998 |
| Hualan Biological Engineering, Inc., Class A | | 21,400 | | | 61,042 |
| Huaneng Power International, Inc., Class A (A) | | 106,600 | | | 125,934 |
| Huaneng Power International, Inc., H Shares (A) | | 755,564 | | | 386,142 |
| Huatai Securities Company, Ltd., Class A | | 96,300 | | | 182,803 |
| The accompanying notes are an integral part of the financial statements. | 49 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
International Strategic Equity Allocation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| China (continued) | | | | | |
| Huatai Securities Company, Ltd., H Shares (B) | | 301,000 | | $ | 402,323 |
| Huaxi Securities Company, Ltd., Class A | | 42,100 | | | 48,750 |
| Huaxia Bank Company, Ltd., Class A | | 162,100 | | | 120,647 |
| Huaxin Cement Company, Ltd., Class A | | 16,000 | | | 40,202 |
| Huayu Automotive Systems Company, Ltd., Class A | | 38,100 | | | 102,822 |
| Hubei Xingfa Chemicals Group Company, Ltd., Class A | | 12,800 | | | 71,435 |
| Huizhou Desay Sv Automotive Company, Ltd., Class A | | 6,200 | | | 136,901 |
| Humanwell Healthcare Group Company, Ltd., Class A | | 19,300 | | | 52,064 |
| Hunan Valin Steel Company, Ltd., Class A | | 85,000 | | | 54,754 |
| Hundsun Technologies, Inc., Class A | | 20,800 | | | 101,017 |
| Hygeia Healthcare Holdings Company, Ltd. (A)(B) | | 64,800 | | | 349,757 |
| Iflytek Company, Ltd., Class A | | 25,700 | | | 139,080 |
| Imeik Technology Development Company, Ltd., Class A | | 2,100 | | | 169,443 |
| Industrial & Commercial Bank of China, Ltd., Class A | | 738,200 | | | 468,440 |
| Industrial & Commercial Bank of China, Ltd., H Shares | | 10,812,423 | | | 5,493,178 |
| Industrial Bank Company, Ltd., Class A | | 240,500 | | | 594,411 |
| Industrial Securities Company, Ltd., Class A (A) | | 87,400 | | | 78,346 |
| Ingenic Semiconductor Company, Ltd., Class A | | 5,300 | | | 62,296 |
| Inner Mongolia BaoTou Steel Union Company, Ltd., Class A | | 515,600 | | | 149,850 |
| Inner Mongolia Dian Tou Energy Corp, Ltd., Class A | | 21,600 | | | 43,574 |
| Inner Mongolia ERDOS Resources Company, Ltd., Class A | | 13,400 | | | 34,191 |
| Inner Mongolia Junzheng Energy & Chemical Industry Group Company, Ltd., Class A | | 99,400 | | | 62,575 |
| Inner Mongolia Yili Industrial Group Company, Ltd., Class A | | 74,400 | | | 385,020 |
| Inner Mongolia Yitai Coal Company, Ltd., Class B | | 205,373 | | | 345,633 |
| Inner Mongolia Yuan Xing Energy Company, Ltd., Class A | | 44,000 | | | 54,022 |
| Innovent Biologics, Inc. (A)(B) | | 195,500 | | | 824,136 |
| Inspur Electronic Information Industry Company, Ltd., Class A | | 16,400 | | | 54,928 |
| Intco Medical Technology Company, Ltd., Class A | | 7,660 | | | 24,329 |
| iQIYI, Inc., ADR (A)(C) | | 65,100 | | | 238,266 |
| JA Solar Technology Company, Ltd., Class A | | 25,420 | | | 240,337 |
| Jafron Biomedical Company, Ltd., Class A | | 8,000 | | | 54,330 |
| Jason Furniture Hangzhou Company, Ltd., Class A | | 8,830 | | | 61,801 |
| JCET Group Company, Ltd., Class A | | 18,400 | | | 65,854 |
| JD Health International, Inc. (A)(B) | | 212,900 | | | 1,466,587 |
| JD.com, Inc., Class A | | 382,937 | | | 12,121,929 |
| Jiangsu Eastern Shenghong Company, Ltd., Class A | | 44,200 | | | 122,778 |
| Jiangsu Expressway Company, Ltd., H Shares | | 230,955 | | | 197,814 |
| Jiangsu Hengli Hydraulic Company, Ltd., Class A | | 14,100 | | | 99,753 |
International Strategic Equity Allocation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| China (continued) | | | | | |
| Jiangsu Hengrui Medicine Company, Ltd., Class A | | 73,600 | | $ | 368,862 |
| Jiangsu King's Luck Brewery JSC, Ltd., Class A | | 14,200 | | | 94,950 |
| Jiangsu Yanghe Brewery Joint-Stock Company, Ltd., Class A | | 17,300 | | | 411,176 |
| Jiangsu Yangnong Chemical Company, Ltd., Class A | | 3,200 | | | 52,722 |
| Jiangsu Yoke Technology Company, Ltd., Class A | | 5,100 | | | 46,033 |
| Jiangsu Yuyue Medical Equipment & Supply Company, Ltd., Class A | | 11,000 | | | 43,458 |
| Jiangsu Zhongtian Technology Company, Ltd., Class A | | 39,900 | | | 128,164 |
| Jiangxi Copper Company, Ltd., Class A | | 22,300 | | | 52,678 |
| Jiangxi Copper Company, Ltd., H Shares | | 206,225 | | | 253,280 |
| Jiangxi Special Electric Motor Company, Ltd., Class A (A) | | 18,600 | | | 59,512 |
| Jiangxi Zhengbang Technology Company, Ltd., Class A (A) | | 26,600 | | | 22,983 |
| Jinke Properties Group Company, Ltd., Class A (A) | | 81,100 | | | 29,308 |
| Jinxin Fertility Group, Ltd. (B) | | 288,000 | | | 187,539 |
| JiuGui Liquor Company, Ltd., Class A | | 3,600 | | | 77,649 |
| Jiumaojiu International Holdings, Ltd. (B) | | 137,000 | | | 269,532 |
| Jizhong Energy Resources Company, Ltd., Class A | | 39,500 | | | 39,036 |
| Joincare Pharmaceutical Group Industry Company, Ltd., Class A | | 22,200 | | | 35,067 |
| Joinn Laboratories China Company, Ltd., Class A | | 5,040 | | | 56,722 |
| Jointown Pharmaceutical Group Company, Ltd., Class A | | 21,500 | | | 36,990 |
| Jonjee Hi-Tech Industrial And Commercial Holding Company, Ltd., Class A | | 10,000 | | | 49,750 |
| Juewei Food Company, Ltd., Class A | | 7,300 | | | 49,278 |
| Kanzhun, Ltd., ADR (A) | | 16,200 | | | 380,538 |
| KE Holdings, Inc., ADR (A) | | 59,900 | | | 1,080,596 |
| Keda Industrial Group Company, Ltd. | | 21,300 | | | 55,923 |
| Kingdee International Software Group Company, Ltd. (A) | | 492,800 | | | 956,477 |
| Kingfa Sci & Tech Company, Ltd., Class A | | 26,400 | | | 41,018 |
| Kingsoft Corp., Ltd. | | 181,200 | | | 550,719 |
| Kuaishou Technology (A)(B) | | 332,800 | | | 2,883,541 |
| Kuang-Chi Technologies Company, Ltd., Class A (A) | | 24,400 | | | 64,060 |
| Kunlun Tech Company, Ltd., Class A | | 13,600 | | | 28,783 |
| Kweichow Moutai Company, Ltd., Class A | | 14,400 | | | 4,010,837 |
| LB Group Company, Ltd., Class A | | 28,200 | | | 71,610 |
| Lenovo Group, Ltd. | | 1,381,764 | | | 1,138,038 |
| Lens Technology Company, Ltd., Class A | | 54,900 | | | 86,052 |
| Lepu Medical Technology Beijing Company, Ltd., Class A | | 20,300 | | | 55,597 |
| Li Auto, Inc., ADR (A) | | 104,400 | | | 3,003,588 |
| Li Ning Company, Ltd. | | 448,500 | | | 4,085,079 |
| Liaoning Port Company, Ltd., Class A | | 180,100 | | | 43,517 |
| Lingyi iTech Guangdong Company, Class A (A) | | 71,700 | | | 56,983 |
| Livzon Pharmaceutical Group, Inc., Class A | | 7,700 | | | 34,879 |
| Logan Group Company, Ltd. | | 246,500 | | | 26,887 |
| Longfor Group Holdings, Ltd. (B) | | 348,700 | | | 1,131,798 |
| The accompanying notes are an integral part of the financial statements. | 50 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
International Strategic Equity Allocation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| China (continued) | | | | | |
| LONGi Green Energy Technology Company, Ltd., Class A | | 86,540 | | $ | 638,014 |
| Lufax Holding, Ltd., ADR | | 162,000 | | | 707,940 |
| Luoyang Xinqianglian Slewing Bearing Company, Ltd., Class A | | 3,690 | | | 38,870 |
| Luxi Chemical Group Company, Ltd., Class A | | 23,800 | | | 47,415 |
| Luxshare Precision Industry Company, Ltd., Class A | | 81,300 | | | 440,154 |
| Luzhou Laojiao Company, Ltd., Class A | | 16,900 | | | 572,396 |
| Maanshan Iron & Steel Company, Ltd., Class A | | 60,100 | | | 26,077 |
| Mango Excellent Media Company, Ltd., Class A | | 20,700 | | | 82,953 |
| Maxscend Microelectronics Company, Ltd., Class A | | 5,800 | | | 85,089 |
| Meinian Onehealth Healthcare Holdings Company, Ltd., Class A (A) | | 40,200 | | | 28,087 |
| Meituan, Class B (A)(B) | | 782,100 | | | 18,783,869 |
| Metallurgical Corp. of China, Ltd., Class A | | 212,300 | | | 98,542 |
| Microport Scientific Corp. (A) | | 117,800 | | | 234,078 |
| Ming Yang Smart Energy Group, Ltd., Class A | | 23,900 | | | 92,535 |
| Ming Yuan Cloud Group Holdings, Ltd. | | 121,000 | | | 99,174 |
| Minth Group, Ltd. | | 144,000 | | | 407,473 |
| Montage Technology Company, Ltd., Class A | | 12,911 | | | 103,569 |
| Muyuan Foods Company, Ltd., Class A | | 60,600 | | | 512,988 |
| Nanjing King-Friend Biochemical Pharmaceutical Company, Ltd., Class A | | 16,660 | | | 43,250 |
| Nanjing Securities Company, Ltd., Class A | | 48,500 | | | 59,670 |
| NARI Technology Company, Ltd., Class A | | 76,940 | | | 304,772 |
| National Silicon Industry Group Company, Ltd., Class A (A) | | 23,395 | | | 69,561 |
| NAURA Technology Group Company, Ltd., Class A | | 6,000 | | | 243,593 |
| NavInfo Company, Ltd., Class A | | 27,500 | | | 51,959 |
| NetEase, Inc. | | 395,900 | | | 7,069,745 |
| New China Life Insurance Company, Ltd., Class A | | 28,200 | | | 117,426 |
| New China Life Insurance Company, Ltd., H Shares | | 183,600 | | | 432,137 |
| New Hope Liuhe Company, Ltd., Class A (A) | | 50,400 | | | 114,382 |
| New Oriental Education & Technology Group, Inc. (A) | | 289,800 | | | 836,508 |
| Ninestar Corp., Class A | | 15,400 | | | 98,356 |
| Ningbo Deye Technology Company, Ltd., Class A | | 2,300 | | | 122,117 |
| Ningbo Joyson Electronic Corp., Class A (A) | | 14,300 | | | 32,012 |
| Ningbo Orient Wires & Cables Company, Ltd., Class A | | 7,900 | | | 81,848 |
| Ningbo Ronbay New Energy Technology Company, Ltd., Class A | | 5,141 | | | 76,463 |
| Ningbo Shanshan Company, Ltd., Class A | | 24,300 | | | 87,209 |
| Ningbo Tuopu Group Company, Ltd., Class A | | 12,400 | | | 141,303 |
| Ningxia Baofeng Energy Group Company, Ltd., Class A | | 69,800 | | | 136,978 |
| NIO, Inc., ADR (A) | | 251,100 | | | 4,999,401 |
| Nongfu Spring Company, Ltd., H Shares (B) | | 336,200 | | | 1,998,995 |
International Strategic Equity Allocation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| China (continued) | | | | | |
| North Industries Group Red Arrow Company, Ltd., Class A | | 16,500 | | $ | 72,854 |
| Northeast Securities Company, Ltd., Class A | | 50,700 | | | 52,624 |
| Offshore Oil Engineering Company, Ltd., Class A | | 38,900 | | | 25,341 |
| OFILM Group Company, Ltd., Class A (A) | | 28,600 | | | 26,492 |
| Oppein Home Group, Inc., Class A | | 5,700 | | | 107,636 |
| Orient Securities Company, Ltd., Class A | | 97,000 | | | 121,323 |
| Ovctek China, Inc., Class A | | 9,200 | | | 56,681 |
| Pangang Group Vanadium Titanium & Resources Company, Ltd., Class A (A) | | 98,900 | | | 81,968 |
| Perfect World Company, Ltd., Class A | | 23,300 | | | 49,792 |
| PetroChina Company, Ltd., Class A | | 230,400 | | | 178,861 |
| PetroChina Company, Ltd., H Shares | | 4,043,939 | | | 1,880,503 |
| Pharmaron Beijing Company, Ltd., Class A | | 11,650 | | | 114,782 |
| Pharmaron Beijing Company, Ltd., H Shares (B) | | 37,950 | | | 251,027 |
| PICC Property & Casualty Company, Ltd., H Shares | | 1,352,798 | | | 1,463,229 |
| Pinduoduo, Inc., ADR (A) | | 83,800 | | | 5,974,940 |
| Ping An Bank Company, Ltd., Class A | | 220,400 | | | 405,869 |
| Ping An Healthcare and Technology Company, Ltd. (A)(B) | | 95,000 | | | 257,178 |
| Ping An Insurance Group Company of China, Ltd., Class A | | 127,600 | | | 807,895 |
| Ping An Insurance Group Company of China, Ltd., H Shares | | 1,213,410 | | | 7,136,847 |
| Pingdingshan Tianan Coal Mining Company, Ltd., Class A | | 22,700 | | | 43,058 |
| Poly Developments and Holdings Group Company, Ltd., Class A | | 141,300 | | | 353,763 |
| Pop Mart International Group, Ltd. (B) | | 105,400 | | | 272,385 |
| Postal Savings Bank of China Company, Ltd., Class A | | 319,900 | | | 208,614 |
| Postal Savings Bank of China Company, Ltd., H Shares (B) | | 1,528,300 | | | 912,352 |
| Power Construction Corp. of China, Ltd., Class A | | 176,500 | | | 196,845 |
| Proya Cosmetics Company, Ltd., Class A | | 1,460 | | | 33,833 |
| Qingdao Rural Commercial Bank Corp., Class A | | 80,700 | | | 35,620 |
| Raytron Technology Company, Ltd., Class A | | 4,026 | | | 25,343 |
| Riyue Heavy Industry Company, Ltd., Class A | | 11,000 | | | 37,785 |
| RLX Technology, Inc., ADR (A) | | 90,200 | | | 128,986 |
| Rongsheng Petrochemical Company, Ltd., Class A | | 115,200 | | | 235,637 |
| SAIC Motor Corp., Ltd., Class A | | 93,200 | | | 208,219 |
| Sailun Group Company, Ltd., Class A | | 33,900 | | | 55,707 |
| Sangfor Technologies, Inc., Class A | | 4,200 | | | 58,565 |
| Sany Heavy Equipment International Holdings Company, Ltd. | | 203,000 | | | 210,281 |
| Sany Heavy Industry Company, Ltd., Class A | | 97,900 | | | 222,717 |
| Satellite Chemical Company, Ltd., Class A | | 27,245 | | | 86,372 |
| SDIC Power Holdings Company, Ltd., Class A | | 79,100 | | | 127,741 |
| Sealand Securities Company, Ltd., Class A | | 87,800 | | | 45,322 |
| Seazen Group, Ltd. (A) | | 374,800 | | | 124,412 |
| Seazen Holdings Company, Ltd., Class A (A) | | 28,500 | | | 85,791 |
| SF Holding Company, Ltd., Class A | | 56,100 | | | 400,507 |
| The accompanying notes are an integral part of the financial statements. | 51 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
International Strategic Equity Allocation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| China (continued) | | | | | |
| SG Micro Corp., Class A | | 3,800 | | $ | 87,721 |
| Shaanxi Coal Industry Company, Ltd., Class A | | 110,000 | | | 350,734 |
| Shan Xi Hua Yang Group New Energy Company, Ltd., Class A | | 26,400 | | | 71,342 |
| Shandong Buchang Pharmaceuticals Company, Ltd., Class A | | 14,800 | | | 38,496 |
| Shandong Gold Mining Company, Ltd., Class A | | 39,400 | | | 101,954 |
| Shandong Gold Mining Company, Ltd., H Shares (B) | | 131,000 | | | 222,078 |
| Shandong Hualu Hengsheng Chemical Company, Ltd., Class A | | 23,600 | | | 99,600 |
| Shandong Linglong Tyre Company, Ltd., Class A | | 16,600 | | | 54,659 |
| Shandong Nanshan Aluminum Company, Ltd., Class A | | 134,900 | | | 66,043 |
| Shandong Sun Paper Industry JSC, Ltd., Class A | | 28,500 | | | 49,399 |
| Shandong Weigao Group Medical Polymer Company, Ltd., H Shares | | 472,800 | | | 641,386 |
| Shanghai Bairun Investment Holding Group Company, Ltd., Class A | | 11,520 | | | 38,803 |
| Shanghai Baosight Software Company, Ltd., Class A | | 16,150 | | | 88,628 |
| Shanghai Baosight Software Company, Ltd., Class B | | 93,623 | | | 283,549 |
| Shanghai Construction Group Company, Ltd., Class A | | 105,200 | | | 41,285 |
| Shanghai Electric Group Company, Ltd., Class A (A) | | 135,500 | | | 83,118 |
| Shanghai Fosun Pharmaceutical Group Company, Ltd., Class A | | 25,200 | | | 147,183 |
| Shanghai Fosun Pharmaceutical Group Company, Ltd., H Shares | | 94,100 | | | 302,722 |
| Shanghai Friendess Electronic Technology Corp, Ltd., Class A | | 1,157 | | | 34,461 |
| Shanghai International Airport Company, Ltd., Class A (A) | | 11,200 | | | 91,330 |
| Shanghai International Port Group Company, Ltd., Class A | | 110,600 | | | 86,556 |
| Shanghai Jinjiang International Hotels Company, Ltd., Class A | | 10,700 | | | 89,300 |
| Shanghai Junshi Biosciences Company, Ltd., Class A (A) | | 7,679 | | | 58,775 |
| Shanghai Lingang Holdings Corp, Ltd., Class A | | 17,100 | | | 31,302 |
| Shanghai Lujiazui Finance & Trade Zone Development Company, Ltd., B Shares | | 183,580 | | | 152,935 |
| Shanghai M&G Stationery, Inc., Class A | | 9,700 | | | 62,335 |
| Shanghai Medicilon, Inc., Class A | | 908 | | | 42,225 |
| Shanghai Pharmaceuticals Holding Company, Ltd., Class A | | 33,900 | | | 84,800 |
| Shanghai Pharmaceuticals Holding Company, Ltd., H Shares | | 148,400 | | | 215,743 |
| Shanghai Pudong Development Bank Company, Ltd., Class A | | 348,200 | | | 366,443 |
| Shanghai Putailai New Energy Technology Company, Ltd., Class A | | 15,600 | | | 142,518 |
| Shanghai RAAS Blood Products Company, Ltd., Class A | | 73,300 | | | 61,980 |
| Shanghai Yuyuan Tourist Mart Group Company, Ltd., Class A | | 43,600 | | | 50,629 |
International Strategic Equity Allocation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| China (continued) | | | | | |
| Shanghai Zhangjiang High-Tech Park Development Company, Ltd., Class A | | 11,900 | | $ | 19,977 |
| Shanxi Coking Coal Energy Group Company, Ltd., Class A | | 45,600 | | | 84,549 |
| Shanxi Lu'an Environmental Energy Development Company, Ltd., Class A | | 32,300 | | | 74,187 |
| Shanxi Meijin Energy Company, Ltd., Class A | | 48,000 | | | 78,618 |
| Shanxi Securities Company, Ltd., Class A | | 57,200 | | | 48,086 |
| Shanxi Taigang Stainless Steel Company, Ltd., Class A | | 65,200 | | | 46,268 |
| Shanxi Xinghuacun Fen Wine Factory Company, Ltd., Class A | | 13,900 | | | 589,680 |
| Shenghe Resources Holding Company, Ltd., Class A | | 18,800 | | | 47,010 |
| Shengyi Technology Company, Ltd., Class A | | 24,900 | | | 57,246 |
| Shennan Circuits Company, Ltd., Class A | | 5,600 | | | 68,681 |
| Shenwan Hongyuan Group Company, Ltd., Class A | | 275,000 | | | 166,183 |
| Shenzhen Capchem Technology Company, Ltd., Class A | | 7,940 | | | 48,144 |
| Shenzhen Dynanonic Company, Ltd., Class A | | 1,900 | | | 87,906 |
| Shenzhen Energy Group Company, Ltd., Class A | | 48,500 | | | 44,637 |
| Shenzhen Inovance Technology Company, Ltd., Class A | | 29,900 | | | 258,978 |
| Shenzhen Kangtai Biological Products Company, Ltd., Class A | | 12,320 | | | 59,973 |
| Shenzhen Kedali Industry Company, Ltd., Class A | | 2,500 | | | 40,408 |
| Shenzhen Mindray Bio-Medical Electronics Company, Ltd., Class A | | 13,800 | | | 595,129 |
| Shenzhen New Industries Biomedical Engineering Company, Ltd., Class A | | 6,600 | | | 34,151 |
| Shenzhen Overseas Chinese Town Company, Ltd., Class A | | 97,700 | | | 75,541 |
| Shenzhen Salubris Pharmaceuticals Company, Ltd., Class A | | 10,300 | | | 38,066 |
| Shenzhen SC New Energy Technology Corp., Class A | | 4,000 | | | 76,591 |
| Shenzhen Senior Technology Material Company, Ltd., Class A | | 14,485 | | | 48,185 |
| Shenzhen Sunlord Electronics Company, Ltd., Class A | | 8,500 | | | 30,561 |
| Shenzhen Transsion Holdings Company, Ltd., Class A | | 7,276 | | | 71,712 |
| Shenzhou International Group Holdings, Ltd. | | 158,100 | | | 1,652,351 |
| Shijiazhuang Yiling Pharmaceutical Company, Ltd., Class A | | 19,800 | | | 61,325 |
| Sichuan Chuantou Energy Company, Ltd., Class A | | 39,100 | | | 74,698 |
| Sichuan Hebang Biotechnology Company, Ltd., Class A | | 102,900 | | | 56,062 |
| Sichuan Kelun Pharmaceutical Company, Ltd., Class A | | 17,000 | | | 52,808 |
| Sichuan New Energy Power Company, Ltd. (A) | | 15,800 | | | 46,348 |
| Sichuan Road & Bridge Company, Ltd., Class A | | 53,700 | | | 82,881 |
| Sichuan Swellfun Company, Ltd., Class A | | 5,200 | | | 54,877 |
| The accompanying notes are an integral part of the financial statements. | 52 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
International Strategic Equity Allocation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| China (continued) | | | | | |
| Sichuan Yahua Industrial Group Company, Ltd., Class A | | 12,700 | | $ | 52,213 |
| Sieyuan Electric Company, Ltd., Class A | | 8,600 | | | 50,880 |
| Silergy Corp. | | 36,000 | | | 617,166 |
| Sinolink Securities Company, Ltd., Class A | | 55,000 | | | 68,647 |
| Sinoma Science & Technology Company, Ltd., Class A | | 19,400 | | | 64,854 |
| Sinomine Resource Group Company, Ltd., Class A | | 5,100 | | | 69,530 |
| Sinopec Shanghai Petrochemical Company, Ltd., Class A | | 70,200 | | | 32,040 |
| Sinopharm Group Company, Ltd., H Shares | | 259,800 | | | 578,781 |
| Sinotrans, Ltd., Class A | | 51,000 | | | 27,808 |
| Sinotruk Hong Kong, Ltd. | | 135,100 | | | 134,699 |
| Skshu Paint Company, Ltd., Class A (A) | | 4,100 | | | 55,265 |
| Smoore International Holdings, Ltd. (B) | | 343,000 | | | 612,350 |
| Songcheng Performance Development Company, Ltd., Class A | | 32,800 | | | 60,105 |
| SooChow Securities Company, Ltd., Class A | | 67,000 | | | 66,438 |
| Southwest Securities Company, Ltd., Class A | | 100,100 | | | 56,859 |
| StarPower Semiconductor, Ltd., Class A | | 1,900 | | | 108,708 |
| Sunac China Holdings, Ltd. (A)(D) | | 599,000 | | | 314,584 |
| Sungrow Power Supply Company, Ltd., Class A | | 16,700 | | | 267,747 |
| Sunny Optical Technology Group Company, Ltd. | | 135,850 | | | 1,854,686 |
| Sunwoda Electronic Company, Ltd., Class A | | 20,000 | | | 78,510 |
| Suzhou Dongshan Precision Manufacturing Company, Ltd., Class A | | 20,700 | | | 77,207 |
| Suzhou Maxwell Technologies Company, Ltd., Class A | | 1,940 | | | 130,879 |
| Suzhou TA&A Ultra Clean Technology Company, Ltd., Class A | | 6,500 | | | 72,959 |
| TAL Education Group, ADR (A) | | 80,362 | | | 464,492 |
| Tangshan Jidong Cement Company, Ltd., Class A | | 30,200 | | | 39,720 |
| TBEA Company, Ltd., Class A | | 43,800 | | | 156,723 |
| TCL Technology Group Corp., Class A | | 162,500 | | | 97,417 |
| TCL Zhonghuan Renewable Energy Technology Company, Ltd., Class A | | 36,400 | | | 252,717 |
| Tencent Holdings, Ltd. | | 1,192,612 | | | 49,291,580 |
| Tencent Music Entertainment Group, ADR (A) | | 135,900 | | | 694,449 |
| The People's Insurance Company Group of China, Ltd., Class A | | 82,000 | | | 59,181 |
| The People's Insurance Company Group of China, Ltd., H Shares | | 1,674,100 | | | 517,404 |
| Thunder Software Technology Company, Ltd., Class A | | 4,700 | | | 83,262 |
| Tianjin 712 Communication & Broadcasting Company, Ltd., Class A | | 7,900 | | | 34,525 |
| Tianma Microelectronics Company, Ltd., Class A | | 11,400 | | | 15,553 |
| Tianshan Aluminum Group Company, Ltd., Class A | | 42,600 | | | 47,102 |
| Tianshui Huatian Technology Company, Ltd., Class A | �� | 27,800 | | | 38,555 |
| Tibet Summit Resources Company, Ltd., Class A (A) | | 9,600 | | | 39,105 |
| Tingyi Cayman Islands Holding Corp. | | 371,800 | | | 660,215 |
International Strategic Equity Allocation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| China (continued) | | | | | |
| Titan Wind Energy Suzhou Company, Ltd., Class A | | 20,900 | | $ | 41,701 |
| Toly Bread Company, Ltd., Class A | | 14,340 | | | 29,153 |
| Tongcheng Travel Holdings, Ltd. (A) | | 231,600 | | | 474,354 |
| TongFu Microelectronics Company, Ltd., Class A (A) | | 11,300 | | | 30,263 |
| Tongkun Group Company, Ltd., Class A | | 30,700 | | | 63,337 |
| Tongling Nonferrous Metals Group Company, Ltd., Class A | | 111,400 | | | 46,567 |
| Tongwei Company, Ltd., Class A | | 51,400 | | | 392,830 |
| Topchoice Medical Corp., Class A (A) | | 3,600 | | | 60,493 |
| Topsports International Holdings, Ltd. (B) | | 344,000 | | | 271,518 |
| Transfar Zhilian Company, Ltd., Class A | | 38,000 | | | 30,617 |
| TravelSky Technology, Ltd., H Shares | | 176,400 | | | 307,445 |
| Trina Solar Company, Ltd., Class A | | 24,881 | | | 256,450 |
| Trip.com Group, Ltd., ADR (A) | | 103,800 | | | 2,669,736 |
| Tsingtao Brewery Company, Ltd., Class A | | 8,400 | | | 131,131 |
| Tsingtao Brewery Company, Ltd., H Shares | | 118,700 | | | 1,152,693 |
| Unigroup Guoxin Microelectronics Company, Ltd., Class A | | 9,379 | | | 211,466 |
| Uni-President China Holdings, Ltd. | | 244,900 | | | 210,846 |
| Unisplendour Corp., Ltd., Class A | | 32,300 | | | 80,683 |
| Vipshop Holdings, Ltd., ADR (A) | | 86,400 | | | 1,003,104 |
| Walvax Biotechnology Company, Ltd., Class A | | 18,100 | | | 114,103 |
| Wanhua Chemical Group Company, Ltd., Class A | | 35,800 | | | 458,236 |
| Want Want China Holdings, Ltd. | | 903,412 | | | 636,383 |
| Weibo Corp., ADR (A) | | 13,380 | | | 276,832 |
| Weichai Power Company, Ltd., Class A | | 84,400 | | | 141,644 |
| Weichai Power Company, Ltd., H Shares | | 363,980 | | | 486,282 |
| Weihai Guangwei Composites Company, Ltd., Class A | | 5,800 | | | 63,713 |
| Wens Foodstuffs Group Company, Ltd., Class A (A) | | 73,400 | | | 251,893 |
| Western Mining Company, Ltd., Class A | | 26,500 | | | 40,714 |
| Western Securities Company, Ltd., Class A | | 62,800 | | | 58,803 |
| Western Superconducting Technologies Company, Ltd., Class A | | 5,216 | | | 76,824 |
| Westone Information Industry, Inc., Class A | | 9,800 | | | 47,506 |
| Will Semiconductor Company, Ltd., Class A | | 13,245 | | | 179,075 |
| Wingtech Technology Company, Ltd., Class A | | 14,100 | | | 131,472 |
| Winning Health Technology Group Company, Ltd., Class A | | 19,800 | | | 20,235 |
| Wuchan Zhongda Group Company, Ltd., Class A | | 62,600 | | | 41,651 |
| Wuhan Guide Infrared Company, Ltd., Class A | | 33,760 | | | 69,705 |
| Wuliangye Yibin Company, Ltd., Class A | | 44,600 | | | 1,076,894 |
| WUS Printed Circuit Kunshan Company, Ltd., Class A | | 21,600 | | | 37,286 |
| WuXi AppTec Company, Ltd., Class A | | 30,000 | | | 388,126 |
| WuXi AppTec Company, Ltd., H Shares (B) | | 66,929 | | | 755,562 |
| Wuxi Biologics Cayman, Inc. (A)(B) | | 685,100 | | | 6,044,022 |
| Wuxi Shangji Automation Company, Ltd., Class A | | 4,360 | | | 84,827 |
| XCMG Construction Machinery Company, Ltd., Class A (A) | | 99,200 | | | 74,719 |
| Xiamen C & D, Inc., Class A | | 37,700 | | | 64,070 |
| The accompanying notes are an integral part of the financial statements. | 53 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
International Strategic Equity Allocation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| China (continued) | | | | | |
| Xiamen Faratronic Company, Ltd., Class A | | 2,500 | | $ | 64,211 |
| Xiamen Intretech, Inc., Class A | | 7,400 | | | 21,745 |
| Xiamen Tungsten Company, Ltd., Class A | | 15,600 | | | 57,032 |
| Xiaomi Corp., Class B (A)(B) | | 2,918,700 | | | 4,263,224 |
| Xinjiang Goldwind Science & Technology Company, Ltd., Class A | | 41,700 | | | 77,159 |
| Xinjiang Goldwind Science & Technology Company, Ltd., H Shares | | 146,800 | | | 218,756 |
| Xinjiang Zhongtai Chemical Company, Ltd., Class A | | 32,400 | | | 34,625 |
| Xinyi Solar Holdings, Ltd. | | 933,000 | | | 1,283,080 |
| XPeng, Inc., ADR (A) | | 80,800 | | | 1,496,416 |
| Xtep International Holdings, Ltd. | | 248,500 | | | 344,840 |
| Yadea Group Holdings, Ltd. (B) | | 224,000 | | | 427,257 |
| Yangzhou Yangjie Electronic Technology Company, Ltd., Class A | | 5,700 | | | 48,229 |
| Yankuang Energy Group Company, Ltd., Class A | | 29,300 | | | 203,369 |
| Yankuang Energy Group Company, Ltd., H Shares | | 288,710 | | | 1,142,833 |
| Yantai Jereh Oilfield Services Group Company, Ltd., Class A | | 10,900 | | | 59,943 |
| Yealink Network Technology Corp., Ltd., Class A | | 9,700 | | | 100,315 |
| Yifeng Pharmacy Chain Company, Ltd., Class A | | 7,900 | | | 60,976 |
| Yihai International Holding, Ltd. (A) | | 89,500 | | | 225,397 |
| Yihai Kerry Arawana Holdings Company, Ltd., Class A | | 17,000 | | | 112,228 |
| Yintai Gold Company, Ltd., Class A | | 28,500 | | | 47,153 |
| YongXing Special Materials Technology Company, Ltd., Class A | | 4,500 | | | 87,143 |
| Yonyou Network Technology Company, Ltd., Class A | | 37,900 | | | 109,833 |
| Youngor Group Company, Ltd., Class A | | 65,500 | | | 60,686 |
| Youngy Company, Ltd., Class A (A) | | 2,800 | | | 48,394 |
| YTO Express Group Company, Ltd., Class A | | 40,700 | | | 115,700 |
| Yuan Longping High-tech Agriculture Company, Ltd., Class A (A) | | 14,800 | | | 33,359 |
| Yum China Holdings, Inc. | | 81,492 | | | 4,083,564 |
| Yunda Holding Company, Ltd., Class A | | 33,900 | | | 82,502 |
| Yunnan Aluminium Company, Ltd., Class A | | 37,700 | | | 54,836 |
| Yunnan Baiyao Group Company, Ltd., Class A | | 20,940 | | | 158,674 |
| Yunnan Botanee Bio-Technology Group Company, Ltd., Class A | | 3,200 | | | 86,327 |
| Yunnan Energy New Material Company, Ltd., Class A | | 10,200 | | | 284,504 |
| Yunnan Tin Company, Ltd., Class A | | 18,200 | | | 36,465 |
| Zai Lab, Ltd., ADR (A) | | 16,600 | | | 767,086 |
| Zhangzhou Pientzehuang Pharmaceutical Company, Ltd., Class A | | 6,800 | | | 295,884 |
| Zhaojin Mining Industry Company, Ltd., H Shares (A) | | 211,000 | | | 178,661 |
| Zhefu Holding Group Company, Ltd., Class A | | 57,200 | | | 35,740 |
| Zhejiang Century Huatong Group Company, Ltd., Class A (A) | | 88,700 | | | 58,597 |
| Zhejiang China Commodities City Group Company, Ltd., Class A | | 60,000 | | | 42,436 |
| Zhejiang Chint Electrics Company, Ltd., Class A | | 25,300 | | | 115,558 |
International Strategic Equity Allocation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| China (continued) | | | | | |
| Zhejiang Dahua Technology Company, Ltd., Class A | | 35,200 | | $ | 74,880 |
| Zhejiang Dingli Machinery Company, Ltd., Class A | | 5,700 | | | 32,335 |
| Zhejiang Expressway Company, Ltd., H Shares | | 264,782 | | | 201,531 |
| Zhejiang HangKe Technology, Inc., Company, Class A | | 4,294 | | | 38,486 |
| Zhejiang Huahai Pharmaceutical Company, Ltd., Class A | | 16,000 | | | 46,186 |
| Zhejiang Huayou Cobalt Company, Ltd., Class A | | 17,910 | | | 193,137 |
| Zhejiang Jingsheng Mechanical & Electrical Company, Ltd., Class A | | 14,400 | | | 157,605 |
| Zhejiang Jiuzhou Pharmaceutical Company, Ltd., Class A | | 8,900 | | | 52,859 |
| Zhejiang Juhua Company, Ltd., Class A | | 31,200 | | | 70,779 |
| Zhejiang NHU Company, Ltd., Class A | | 35,180 | | | 114,397 |
| Zhejiang Orient Gene Biotech Company, Ltd., Class A | | 2,058 | | | 26,444 |
| Zhejiang Semir Garment Company, Ltd., Class A | | 25,800 | | | 19,386 |
| Zhejiang Supor Company, Ltd., Class A | | 6,000 | | | 39,795 |
| Zhejiang Weiming Environment Protection Company, Ltd., Class A | | 18,880 | | | 69,600 |
| Zhejiang Weixing New Building Materials Company, Ltd., Class A | | 16,400 | | | 49,516 |
| Zhejiang Wolwo Bio-Pharmaceutical Company, Ltd., Class A | | 5,300 | | | 35,507 |
| Zhejiang Yongtai Technology Company, Ltd., Class A | | 10,000 | | | 39,411 |
| Zheshang Securities Company, Ltd., Class A | | 51,600 | | | 81,456 |
| ZhongAn Online P&C Insurance Company, Ltd., H Shares (A)(B) | | 134,900 | | | 395,333 |
| Zhongji Innolight Company, Ltd., Class A | | 9,200 | | | 38,981 |
| Zhongsheng Group Holdings, Ltd. | | 114,100 | | | 539,507 |
| Zhongtai Securities Company, Ltd., Class A | | 66,100 | | | 70,823 |
| Zhuzhou CRRC Times Electric Company, Ltd. | | 103,800 | | | 501,925 |
| Zhuzhou CRRC Times Electric Company, Ltd., Class A | | 7,241 | | | 64,467 |
| Zhuzhou Hongda Electronics Corp, Ltd., Class A | | 4,100 | | | 27,540 |
| Zhuzhou Kibing Group Company, Ltd., Class A | | 30,600 | | | 50,013 |
| Zibo Qixiang Tengda Chemical Company, Ltd., Class A (A) | | 31,500 | | | 33,322 |
| Zijin Mining Group Company, Ltd., Class A | | 241,600 | | | 306,588 |
| Zijin Mining Group Company, Ltd., H Shares | | 1,085,529 | | | 1,226,620 |
| Zoomlion Heavy Industry Science and Technology Company, Ltd., Class A | | 77,000 | | | 64,161 |
| Zoomlion Heavy Industry Science and Technology Company, Ltd., H Shares | | 286,400 | | | 129,108 |
| ZTE Corp., Class A | | 46,500 | | | 164,477 |
| ZTE Corp., H Shares | | 143,215 | | | 302,371 |
| ZTO Express Cayman, Inc., ADR | | 80,600 | | | 2,099,630 |
| | | | | | 370,487,714 |
| Colombia - 0.1% | | | | | |
| Bancolombia SA | | 92,258 | | | 712,401 |
| The accompanying notes are an integral part of the financial statements. | 54 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
International Strategic Equity Allocation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| Colombia (continued) | | | | | |
| Ecopetrol SA | | 1,806,433 | | $ | 920,551 |
| Interconexion Electrica SA ESP | | 162,332 | | | 702,620 |
| | | | | | 2,335,572 |
| Czech Republic - 0.0% | | | | | |
| CEZ AS | | 24,043 | | | 974,031 |
| Komercni banka AS | | 11,427 | | | 267,632 |
| Moneta Money Bank AS (B) | | 49,554 | | | 157,223 |
| | | | | | 1,398,886 |
| Denmark - 1.8% | | | | | |
| A.P. Moller - Maersk A/S, Series A | | 556 | | | 1,298,876 |
| A.P. Moller - Maersk A/S, Series B | | 1,039 | | | 2,492,721 |
| Carlsberg A/S, Class B | | 18,833 | | | 2,445,470 |
| Chr. Hansen Holding A/S | | 19,639 | | | 1,144,308 |
| Coloplast A/S, B Shares | | 22,233 | | | 2,539,698 |
| Danske Bank A/S | | 130,407 | | | 1,741,313 |
| Demant A/S (A) | | 17,766 | | | 547,268 |
| DSV A/S | | 35,968 | | | 5,314,923 |
| Genmab A/S (A) | | 12,346 | | | 4,394,759 |
| GN Store Nord A/S | | 24,621 | | | 696,347 |
| Novo Nordisk A/S, B Shares | | 315,898 | | | 33,773,869 |
| Novozymes A/S, B Shares | | 38,283 | | | 2,197,200 |
| Orsted A/S (B) | | 35,349 | | | 3,450,152 |
| Pandora A/S | | 17,799 | | | 1,069,304 |
| ROCKWOOL A/S, B Shares | | 1,676 | | | 344,979 |
| Tryg A/S | | 69,426 | | | 1,568,735 |
| Vestas Wind Systems A/S | | 189,288 | | | 4,736,197 |
| | | | | | 69,756,119 |
| Finland - 0.5% | | | | | |
| Elisa OYJ | | 17,727 | | | 948,014 |
| Fortum OYJ | | 56,114 | | | 577,216 |
| Kesko OYJ, B Shares | | 34,231 | | | 720,142 |
| Kone OYJ, B Shares | | 43,249 | | | 1,729,643 |
| Neste OYJ | | 53,791 | | | 2,653,889 |
| Nokia OYJ | | 694,661 | | | 3,500,664 |
| Nordea Bank ABP | | 386,143 | | | 3,580,260 |
| Orion OYJ, Class B | | 13,580 | | | 615,721 |
| Sampo OYJ, A Shares | | 66,031 | | | 2,987,277 |
| Stora Enso OYJ, R Shares | | 71,273 | | | 1,060,973 |
| UPM-Kymmene OYJ | | 68,370 | | | 2,322,832 |
| Wartsila OYJ ABP | | 60,758 | | | 500,967 |
| | | | | | 21,197,598 |
| France - 6.7% | | | | | |
| Accor SA (A) | | 30,757 | | | 733,594 |
| Aeroports de Paris (A) | | 5,320 | | | 728,472 |
| Air Liquide SA | | 95,964 | | | 12,025,573 |
| Airbus SE | | 108,186 | | | 10,601,533 |
| Alstom SA | | 58,068 | | | 1,190,007 |
| Amundi SA (B) | | 12,142 | | | 615,647 |
| Arkema SA | | 11,014 | | | 929,824 |
| AXA SA | | 360,906 | | | 8,499,957 |
| BioMerieux | | 7,587 | | | 693,832 |
| BNP Paribas SA | | 204,390 | | | 9,498,083 |
| Bollore SE | | 159,137 | | | 760,486 |
| Bouygues SA | | 41,675 | | | 1,224,208 |
| Bureau Veritas SA | | 53,430 | | | 1,326,133 |
| Capgemini SE | | 30,003 | | | 5,183,879 |
| Carrefour SA (C) | | 113,330 | | | 1,891,541 |
| Cie de Saint-Gobain | | 91,626 | | | 3,690,505 |
| Cie Generale des Etablissements Michelin SCA | | 124,268 | | | 3,022,370 |
| Covivio | | 8,295 | | | 463,092 |
| Credit Agricole SA | | 232,489 | | | 2,139,762 |
International Strategic Equity Allocation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| France (continued) | | | | | |
| Danone SA | | 119,697 | | $ | 6,298,522 |
| Dassault Aviation SA | | 4,548 | | | 624,578 |
| Dassault Systemes SE | | 122,287 | | | 4,715,796 |
| Edenred | | 45,394 | | | 2,296,010 |
| Eiffage SA | | 15,086 | | | 1,326,894 |
| Electricite de France SA | | 102,673 | | | 1,227,587 |
| Engie SA | | 335,485 | | | 3,984,605 |
| EssilorLuxottica SA | | 52,751 | | | 7,856,635 |
| Eurazeo SE | | 8,062 | | | 481,465 |
| Gecina SA | | 8,251 | | | 734,325 |
| Getlink SE | | 78,940 | | | 1,486,529 |
| Hermes International | | 5,809 | | | 7,440,001 |
| Ipsen SA | | 6,923 | | | 663,483 |
| Kering SA | | 13,738 | | | 6,893,106 |
| Klepierre SA (A) | | 39,097 | | | 801,971 |
| La Francaise des Jeux SAEM (B) | | 18,693 | | | 606,295 |
| Legrand SA | | 49,009 | | | 3,546,047 |
| L'Oreal SA | | 44,225 | | | 15,188,883 |
| LVMH Moet Hennessy Louis Vuitton SE | | 50,948 | | | 32,875,204 |
| Orange SA | | 365,451 | | | 3,701,078 |
| Pernod Ricard SA | | 38,509 | | | 7,065,983 |
| Publicis Groupe SA | | 41,827 | | | 2,042,226 |
| Remy Cointreau SA | | 4,212 | | | 781,173 |
| Renault SA (A) | | 35,339 | | | 1,006,564 |
| Safran SA | | 62,681 | | | 6,390,636 |
| Sanofi | | 208,863 | | | 17,074,592 |
| Sartorius Stedim Biotech | | 5,069 | | | 1,854,053 |
| Schneider Electric SE | | 97,799 | | | 11,624,185 |
| Schneider Electric SE (Euronext London Exchange) | | 1,474 | | | 175,848 |
| SEB SA | | 4,464 | | | 330,628 |
| Societe Generale SA | | 147,509 | | | 3,251,912 |
| Sodexo SA | | 16,115 | | | 1,232,479 |
| Teleperformance | | 10,740 | | | 3,058,842 |
| Thales SA | | 19,577 | | | 2,360,228 |
| TotalEnergies SE | | 454,781 | | | 23,025,530 |
| Ubisoft Entertainment SA (A) | | 17,132 | | | 790,047 |
| Unibail-Rodamco-Westfield (A) | | 16,892 | | | 868,412 |
| Unibail-Rodamco-Westfield (Euronext Amsterdam Exchange) (A) | | 4,627 | | | 237,873 |
| Valeo | | 37,605 | | | 718,323 |
| Veolia Environnement SA | | 121,563 | | | 2,709,336 |
| Vinci SA | | 97,915 | | | 9,033,039 |
| Vivendi SE | | 130,936 | | | 1,186,869 |
| Wendel SE | | 4,919 | | | 386,498 |
| Worldline SA (A)(B) | | 43,702 | | | 1,872,320 |
| | | | | | 267,045,108 |
| Germany - 3.7% | | | | | |
| adidas AG | | 27,442 | | | 4,069,204 |
| Allianz SE | | 65,602 | | | 11,089,181 |
| BASF SE | | 145,980 | | | 6,174,811 |
| Bayer AG | | 156,191 | | | 8,260,665 |
| Bayerische Motoren Werke AG | | 52,896 | | | 3,897,323 |
| Bechtle AG | | 12,871 | | | 493,085 |
| Beiersdorf AG | | 15,957 | | | 1,610,707 |
| Brenntag SE | | 24,284 | | | 1,592,248 |
| Carl Zeiss Meditec AG, Bearer Shares | | 6,386 | | | 794,798 |
| Commerzbank AG (A) | | 165,518 | | | 1,101,349 |
| Continental AG | | 17,381 | | | 1,000,704 |
| Covestro AG (B) | | 30,997 | | | 934,624 |
| Daimler Truck Holding AG (A) | | 71,820 | | | 1,836,363 |
| Delivery Hero SE (A)(B)(C) | | 25,973 | | | 1,077,916 |
| Deutsche Bank AG | | 332,430 | | | 2,773,435 |
| The accompanying notes are an integral part of the financial statements. | 55 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
International Strategic Equity Allocation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| Germany (continued) | | | | | |
| Deutsche Boerse AG | | 30,224 | | $ | 5,110,130 |
| Deutsche Lufthansa AG (A)(C) | | 93,306 | | | 554,733 |
| Deutsche Post AG | | 157,197 | | | 5,737,578 |
| Deutsche Telekom AG | | 514,244 | | | 9,692,121 |
| E.ON SE | | 355,021 | | | 3,028,197 |
| Evonik Industries AG | | 32,768 | | | 610,966 |
| Fresenius Medical Care AG & Company KGaA | | 32,531 | | | 1,113,846 |
| Fresenius SE & Company KGaA | | 66,729 | | | 1,650,768 |
| GEA Group AG | | 23,898 | | | 831,339 |
| Hannover Rueck SE | | 9,952 | | | 1,466,792 |
| HeidelbergCement AG | | 23,141 | | | 1,044,994 |
| HelloFresh SE (A) | | 26,096 | | | 623,070 |
| Henkel AG & Company KGaA | | 14,680 | | | 918,082 |
| Infineon Technologies AG | | 207,793 | | | 5,084,480 |
| KION Group AG | | 11,432 | | | 456,789 |
| Knorr-Bremse AG | | 11,156 | | | 540,677 |
| LEG Immobilien SE | | 11,543 | | | 872,351 |
| Mercedes-Benz Group AG | | 127,535 | | | 7,150,369 |
| Merck KGaA | | 20,574 | | | 3,534,217 |
| MTU Aero Engines AG | | 8,469 | | | 1,493,620 |
| Muenchener Rueckversicherungs-Gesellschaft AG | | 22,672 | | | 5,416,835 |
| Nemetschek SE | | 9,073 | | | 534,494 |
| Puma SE | | 16,574 | | | 1,013,067 |
| Rational AG | | 800 | | | 431,491 |
| Rheinmetall AG | | 6,930 | | | 1,100,107 |
| RWE AG | | 101,526 | | | 3,876,015 |
| SAP SE | | 165,756 | | | 14,117,400 |
| Scout24 SE (B) | | 12,535 | | | 722,182 |
| Siemens AG | | 121,575 | | | 12,314,884 |
| Siemens Energy AG | | 69,240 | | | 1,018,476 |
| Siemens Healthineers AG (B) | | 44,770 | | | 2,187,746 |
| Symrise AG | | 21,069 | | | 2,204,547 |
| Telefonica Deutschland Holding AG | | 154,009 | | | 399,801 |
| Uniper SE (C) | | 13,885 | | | 75,130 |
| United Internet AG | | 14,383 | | | 325,353 |
| Volkswagen AG | | 4,617 | | | 854,013 |
| Vonovia SE | | 110,844 | | | 3,000,731 |
| Zalando SE (A)(B)(C) | | 35,187 | | | 814,683 |
| | | | | | 148,628,487 |
| Hong Kong - 2.4% | | | | | |
| AIA Group, Ltd. | | 1,998,709 | | | 19,230,052 |
| Alibaba Health Information Technology, Ltd. (A) | | 894,200 | | | 512,434 |
| Alibaba Pictures Group, Ltd. (A) | | 2,206,100 | | | 173,548 |
| Beijing Enterprises Holdings, Ltd. | | 101,214 | | | 301,054 |
| Beijing Enterprises Water Group, Ltd. | | 778,200 | | | 199,904 |
| BOC Hong Kong Holdings, Ltd. | | 611,000 | | | 2,102,941 |
| Bosideng International Holdings, Ltd. | | 610,000 | | | 342,510 |
| Brilliance China Automotive Holdings, Ltd. (A)(D) | | 509,800 | | | 130,394 |
| Budweiser Brewing Company APAC, Ltd. (B) | | 284,000 | | | 834,801 |
| China Everbright Environment Group, Ltd. | | 724,700 | | | 358,192 |
| China Gas Holdings, Ltd. | | 582,800 | | | 824,722 |
| China Jinmao Holdings Group, Ltd. | | 1,103,300 | | | 232,324 |
| China Mengniu Dairy Company, Ltd. (A) | | 604,253 | | | 2,736,225 |
| China Merchants Port Holdings Company, Ltd. | | 256,331 | | | 384,821 |
| China Overseas Land & Investment, Ltd. | | 738,297 | | | 1,984,152 |
| China Overseas Property Holdings, Ltd. | | 245,000 | | | 260,002 |
International Strategic Equity Allocation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| Hong Kong (continued) | | | | | |
| China Power International Development, Ltd. | | 1,027,900 | | $ | 573,828 |
| China Resources Beer Holdings Company, Ltd. | | 308,899 | | | 2,153,342 |
| China Resources Cement Holdings, Ltd. | | 471,900 | | | 290,884 |
| China Resources Gas Group, Ltd. | | 175,400 | | | 682,904 |
| China Resources Land, Ltd. | | 616,405 | | | 2,523,715 |
| China Resources Power Holdings Company, Ltd. | | 367,432 | | | 730,580 |
| China Ruyi Holdings, Ltd. (A) | | 876,000 | | | 222,299 |
| China State Construction International Holdings, Ltd. | | 387,400 | | | 447,312 |
| China Taiping Insurance Holdings Company, Ltd. | | 308,200 | | | 314,665 |
| China Traditional Chinese Medicine Holdings Company, Ltd. | | 536,400 | | | 231,314 |
| Chow Tai Fook Jewellery Group, Ltd. | | 324,600 | | | 653,325 |
| CK Asset Holdings, Ltd. | | 330,698 | | | 2,232,134 |
| CK Hutchison Holdings, Ltd. | | 445,472 | | | 2,876,706 |
| CK Infrastructure Holdings, Ltd. | | 102,000 | | | 620,263 |
| CLP Holdings, Ltd. | | 268,500 | | | 2,313,476 |
| COSCO SHIPPING Ports, Ltd. | | 350,808 | | | 227,000 |
| ESR Group, Ltd. (A)(B) | | 328,200 | | | 918,994 |
| Far East Horizon, Ltd. | | 291,100 | | | 220,524 |
| Futu Holdings, Ltd., ADR (A) | | 9,900 | | | 485,991 |
| Galaxy Entertainment Group, Ltd. | | 359,000 | | | 2,006,697 |
| Geely Automobile Holdings, Ltd. | | 1,149,300 | | | 2,309,195 |
| Guangdong Investment, Ltd. | | 560,880 | | | 513,852 |
| Hang Lung Properties, Ltd. | | 330,000 | | | 548,793 |
| Hang Seng Bank, Ltd. | | 124,195 | | | 1,944,475 |
| Henderson Land Development Company, Ltd. | | 238,417 | | | 797,534 |
| HK Electric Investments, Ltd. | | 372,500 | | | 310,801 |
| HKT Trust & HKT, Ltd. | | 604,322 | | | 810,746 |
| Hong Kong & China Gas Company, Ltd. | | 1,824,863 | | | 1,799,100 |
| Hong Kong Exchanges & Clearing, Ltd. | | 198,577 | | | 8,001,566 |
| Hongkong Land Holdings, Ltd. | | 187,600 | | | 906,876 |
| Hopson Development Holdings, Ltd. | | 143,915 | | | 197,881 |
| HUTCHMED China, Ltd., ADR (A) | | 16,500 | | | 212,190 |
| Jardine Matheson Holdings, Ltd. | | 35,332 | | | 1,873,716 |
| Kingboard Holdings, Ltd. | | 128,800 | | | 406,712 |
| Kingboard Laminates Holdings, Ltd. | | 179,000 | | | 170,750 |
| Kunlun Energy Company, Ltd. | | 747,390 | | | 650,773 |
| Link REIT | | 344,825 | | | 2,668,610 |
| MTR Corp., Ltd. | | 249,368 | | | 1,277,094 |
| New World Development Company, Ltd. | | 246,314 | | | 802,634 |
| Nine Dragons Paper Holdings, Ltd. | | 316,100 | | | 248,034 |
| Orient Overseas International, Ltd. | | 25,500 | | | 710,812 |
| Power Assets Holdings, Ltd. | | 225,500 | | | 1,348,762 |
| Shenzhen International Holdings, Ltd. | | 245,500 | | | 211,623 |
| Shimao Group Holdings, Ltd. (D) | | 245,100 | | | 124,225 |
| Sino Biopharmaceutical, Ltd. | | 1,977,875 | | | 1,038,811 |
| Sino Land Company, Ltd. | | 555,075 | | | 811,700 |
| SITC International Holdings Company, Ltd. | | 220,000 | | | 557,883 |
| Sun Hung Kai Properties, Ltd. | | 240,000 | | | 2,819,574 |
| Swire Pacific, Ltd., Class A | | 83,500 | | | 577,551 |
| Swire Properties, Ltd. | | 188,800 | | | 435,131 |
| Techtronic Industries Company, Ltd. | | 226,500 | | | 2,671,396 |
| The Wharf Holdings, Ltd. | | 230,125 | | | 866,642 |
| Vinda International Holdings, Ltd. | | 68,000 | | | 190,065 |
| WH Group, Ltd. (B) | | 1,380,270 | | | 940,410 |
| Wharf Real Estate Investment Company, Ltd. | | 275,125 | | | 1,251,870 |
| The accompanying notes are an integral part of the financial statements. | 56 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
International Strategic Equity Allocation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| Hong Kong (continued) | | | | | |
| Xinyi Glass Holdings, Ltd. | | 294,000 | | $ | 542,986 |
| Yuexiu Property Company, Ltd. | | 264,700 | | | 331,080 |
| | | | | | 93,215,882 |
| Hungary - 0.0% | | | | | |
| MOL Hungarian Oil & Gas PLC | | 80,088 | | | 551,835 |
| OTP Bank NYRT | | 42,839 | | | 911,057 |
| Richter Gedeon NYRT | | 27,145 | | | 547,301 |
| | | | | | 2,010,193 |
| India - 3.5% | | | | | |
| ACC, Ltd. | | 10,720 | | | 306,948 |
| Adani Enterprises, Ltd. | | 40,574 | | | 1,609,248 |
| Adani Green Energy, Ltd. (A) | | 46,165 | | | 1,401,156 |
| Adani Ports & Special Economic Zone, Ltd. | | 75,543 | | | 788,351 |
| Adani Power, Ltd. (A) | | 114,568 | | | 585,059 |
| Adani Total Gas, Ltd. | | 40,725 | | | 1,901,872 |
| Adani Transmission, Ltd. (A) | | 40,712 | | | 2,005,681 |
| Ambuja Cements, Ltd. | | 87,179 | | | 446,116 |
| Apollo Hospitals Enterprise, Ltd. | | 14,915 | | | 798,968 |
| Asian Paints, Ltd. | | 56,854 | | | 2,398,710 |
| AU Small Finance Bank, Ltd. (B) | | 23,263 | | | 184,360 |
| Aurobindo Pharma, Ltd. | | 40,259 | | | 274,118 |
| Avenue Supermarts, Ltd. (A)(B) | | 23,985 | | | 1,352,312 |
| Axis Bank, Ltd. | | 338,020 | | | 3,150,175 |
| Bajaj Auto, Ltd. | | 10,397 | | | 530,623 |
| Bajaj Finance, Ltd. | | 40,347 | | | 3,644,235 |
| Bajaj Finserv, Ltd. | | 5,738 | | | 1,202,703 |
| Balkrishna Industries, Ltd. | | 11,173 | | | 284,099 |
| Bandhan Bank, Ltd. (A)(B) | | 97,870 | | | 337,706 |
| Berger Paints India, Ltd. | | 33,747 | | | 282,364 |
| Bharat Electronics, Ltd. | | 180,974 | | | 692,401 |
| Bharat Forge, Ltd. | | 36,878 | | | 339,304 |
| Bharat Petroleum Corp., Ltd. | | 128,649 | | | 527,558 |
| Bharti Airtel, Ltd. | | 326,142 | | | 2,948,648 |
| Biocon, Ltd. | | 62,069 | | | 239,462 |
| Britannia Industries, Ltd. | | 15,893 | | | 742,316 |
| Cholamandalam Investment and Finance Company, Ltd. | | 60,970 | | | 597,141 |
| Cipla, Ltd. | | 72,169 | | | 935,100 |
| Coal India, Ltd. | | 225,711 | | | 658,963 |
| Colgate-Palmolive India, Ltd. | | 17,034 | | | 357,245 |
| Container Corp. of India, Ltd. | | 40,597 | | | 351,349 |
| Dabur India, Ltd. | | 91,524 | | | 668,302 |
| Divi's Laboratories, Ltd. | | 19,593 | | | 881,222 |
| DLF, Ltd. | | 91,922 | | | 443,975 |
| Dr. Reddy's Laboratories, Ltd. | | 17,395 | | | 916,554 |
| Eicher Motors, Ltd. | | 20,208 | | | 843,700 |
| GAIL India, Ltd. | | 235,747 | | | 400,594 |
| Godrej Consumer Products, Ltd. (A) | | 60,799 | | | 700,147 |
| Godrej Properties, Ltd. (A) | | 18,524 | | | 323,619 |
| Grasim Industries, Ltd. | | 38,939 | | | 809,780 |
| Havells India, Ltd. | | 36,912 | | | 633,107 |
| HCL Technologies, Ltd. | | 161,054 | | | 1,869,165 |
| HDFC Life Insurance Company, Ltd. (B) | | 146,500 | | | 1,047,660 |
| Hero MotoCorp, Ltd. | | 16,264 | | | 574,730 |
| Hindalco Industries, Ltd. | | 201,469 | | | 1,090,199 |
| Hindustan Petroleum Corp., Ltd. | | 94,206 | | | 285,293 |
| Hindustan Unilever, Ltd. | | 122,302 | | | 4,052,201 |
| Housing Development Finance Corp., Ltd. | | 256,337 | | | 7,762,616 |
| ICICI Bank, Ltd. | | 765,601 | | | 8,411,170 |
| ICICI Lombard General Insurance Company, Ltd. (B) | | 37,271 | | | 599,145 |
International Strategic Equity Allocation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| India (continued) | | | | | |
| ICICI Prudential Life Insurance Company, Ltd. (B) | | 56,510 | | $ | 417,671 |
| Indian Oil Corp., Ltd. | | 416,046 | | | 371,501 |
| Indian Railway Catering & Tourism Corp, Ltd. | | 34,930 | | | 304,768 |
| Indraprastha Gas, Ltd. | | 45,627 | | | 238,496 |
| Indus Towers, Ltd. | | 100,070 | | | 248,850 |
| Info Edge India, Ltd. | | 10,575 | | | 568,409 |
| Infosys, Ltd. | | 499,801 | | | 9,193,063 |
| InterGlobe Aviation, Ltd. (A)(B) | | 14,298 | | | 355,853 |
| ITC, Ltd. | | 441,946 | | | 1,767,243 |
| Jindal Steel & Power, Ltd. | | 60,614 | | | 325,131 |
| JSW Steel, Ltd. | | 106,232 | | | 877,298 |
| Jubilant Foodworks, Ltd. | | 57,993 | | | 441,424 |
| Kotak Mahindra Bank, Ltd. | | 83,001 | | | 1,961,471 |
| Larsen & Toubro Infotech, Ltd. (B) | | 7,792 | | | 446,010 |
| Larsen & Toubro, Ltd. | | 102,723 | | | 2,442,407 |
| Lupin, Ltd. | | 30,017 | | | 250,423 |
| Mahindra & Mahindra, Ltd. | | 129,466 | | | 2,101,797 |
| Marico, Ltd. | | 74,419 | | | 486,320 |
| Maruti Suzuki India, Ltd. | | 17,921 | | | 2,014,488 |
| Mindtree, Ltd. | | 9,763 | | | 398,896 |
| Mphasis, Ltd. | | 12,401 | | | 326,032 |
| MRF, Ltd. | | 278 | | | 295,463 |
| Muthoot Finance, Ltd. | | 17,420 | | | 227,565 |
| Nestle India, Ltd. | | 4,931 | | | 1,223,658 |
| NTPC, Ltd. | | 578,349 | | | 1,183,727 |
| Oil & Natural Gas Corp., Ltd. | | 375,198 | | | 648,105 |
| Page Industries, Ltd. | | 901 | | | 574,120 |
| Petronet LNG, Ltd. | | 106,759 | | | 294,189 |
| PI Industries, Ltd. | | 10,966 | | | 469,444 |
| Pidilite Industries, Ltd. | | 22,159 | | | 755,912 |
| Piramal Enterprises, Ltd. | | 18,043 | | | 241,086 |
| Piramal Pharma, Ltd. (A)(D) | | 72,172 | | | 197,885 |
| Power Grid Corp. of India, Ltd. | | 465,009 | | | 1,330,775 |
| Reliance Industries, Ltd. | | 452,012 | | | 14,830,678 |
| Samvardhana Motherson International, Ltd. | | 184,613 | | | 282,158 |
| SBI Cards & Payment Services, Ltd. | | 34,886 | | | 398,624 |
| SBI Life Insurance Company, Ltd. (B) | | 67,885 | | | 1,122,609 |
| Shree Cement, Ltd. | | 1,586 | | | 435,723 |
| Shriram Transport Finance Company, Ltd. | | 28,354 | | | 475,850 |
| Siemens, Ltd. | | 10,357 | | | 371,012 |
| SRF, Ltd. | | 22,016 | | | 693,302 |
| State Bank of India | | 267,688 | | | 1,761,621 |
| Sun Pharmaceutical Industries, Ltd. | | 143,765 | | | 1,601,843 |
| Tata Consultancy Services, Ltd. | | 137,187 | | | 5,469,277 |
| Tata Consumer Products, Ltd. | | 81,345 | | | 822,008 |
| Tata Elxsi, Ltd. | | 5,037 | | | 561,271 |
| Tata Motors, Ltd. (A) | | 246,322 | | | 1,432,348 |
| Tata Steel, Ltd. | | 1,091,101 | | | 1,466,944 |
| Tech Mahindra, Ltd. | | 86,949 | | | 1,158,629 |
| The Tata Power Company, Ltd. | | 212,762 | | | 622,711 |
| Titan Company, Ltd. | | 52,763 | | | 1,703,184 |
| Torrent Pharmaceuticals, Ltd. | | 14,894 | | | 287,673 |
| Trent, Ltd. | | 26,486 | | | 461,481 |
| UltraTech Cement, Ltd. | | 14,986 | | | 1,246,261 |
| United Spirits, Ltd. (A) | | 43,530 | | | 440,620 |
| UPL, Ltd. | | 72,956 | | | 696,733 |
| Vedanta, Ltd. | | 110,387 | | | 368,789 |
| Wipro, Ltd. | | 203,888 | | | 1,045,585 |
| Yes Bank, Ltd. (A) | | 1,639,729 | | | 336,088 |
| Zomato, Ltd. (A) | | 235,401 | | | 169,287 |
| | | | | | 137,429,259 |
| The accompanying notes are an integral part of the financial statements. | 57 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
International Strategic Equity Allocation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| Indonesia - 0.6% | | | | | |
| Adaro Energy Indonesia Tbk PT | | 2,678,545 | | $ | 638,557 |
| Adaro Minerals Indonesia Tbk PT (A) | | 1,519,800 | | | 175,274 |
| Aneka Tambang Tbk | | 1,547,800 | | | 206,967 |
| Astra International Tbk PT | | 3,814,408 | | | 1,789,793 |
| Bank Central Asia Tbk PT | | 10,269,150 | | | 5,670,862 |
| Bank Jago Tbk PT (A) | | 767,400 | | | 434,840 |
| Bank Mandiri Persero Tbk PT | | 3,485,556 | | | 2,074,203 |
| Bank Negara Indonesia Persero Tbk PT | | 1,432,953 | | | 821,893 |
| Bank Rakyat Indonesia Persero Tbk PT | | 12,675,010 | | | 3,701,472 |
| Barito Pacific Tbk PT | | 5,269,800 | | | 290,907 |
| Charoen Pokphand Indonesia Tbk PT | | 1,372,103 | | | 543,095 |
| Gudang Garam Tbk PT | | 93,682 | | | 149,806 |
| Indah Kiat Pulp & Paper Tbk PT | | 525,500 | | | 294,358 |
| Indofood CBP Sukses Makmur Tbk PT | | 436,400 | | | 244,251 |
| Indofood Sukses Makmur Tbk PT | | 846,417 | | | 355,085 |
| Kalbe Farma Tbk PT | | 3,955,910 | | | 447,330 |
| Merdeka Copper Gold Tbk PT (A) | | 2,226,300 | | | 640,218 |
| Sarana Menara Nusantara Tbk PT | | 4,238,300 | | | 354,332 |
| Semen Indonesia Persero Tbk PT | | 569,792 | | | 253,022 |
| Sumber Alfaria Trijaya Tbk PT | | 3,093,100 | | | 453,950 |
| Telkom Indonesia Persero Tbk PT | | 9,267,860 | | | 2,838,104 |
| Tower Bersama Infrastructure Tbk PT | | 1,429,800 | | | 271,455 |
| Unilever Indonesia Tbk PT | | 1,417,425 | | | 438,023 |
| United Tractors Tbk PT | | 312,437 | | | 711,440 |
| Vale Indonesia Tbk PT (A) | | 454,200 | | | 186,164 |
| | | | | | 23,985,401 |
| Ireland - 0.6% | | | | | |
| AerCap Holdings NV (A) | | 17,200 | | | 757,660 |
| CRH PLC | | 125,457 | | | 4,632,849 |
| DCC PLC | | 24,558 | | | 1,413,416 |
| Experian PLC | | 230,724 | | | 7,001,405 |
| Flutter Entertainment PLC (A) | | 27,228 | | | 3,411,656 |
| James Hardie Industries PLC, CHESS Depositary Interest | | 91,971 | | | 2,084,563 |
| Kerry Group PLC, Class A | | 25,996 | | | 2,680,764 |
| Kingspan Group PLC | | 25,129 | | | 1,422,779 |
| Smurfit Kappa Group PLC | | 32,176 | | | 1,078,852 |
| Smurfit Kappa Group PLC (London Stock Exchange) | | 8,098 | | | 271,226 |
| | | | | | 24,755,170 |
| Israel - 0.5% | | | | | |
| Azrieli Group, Ltd. | | 6,673 | | | 553,567 |
| Bank Hapoalim BM | | 199,871 | | | 2,072,152 |
| Bank Leumi Le-Israel BM | | 243,623 | | | 2,575,394 |
| Check Point Software Technologies, Ltd. (A) | | 16,300 | | | 1,959,912 |
| CyberArk Software, Ltd. (A) | | 6,300 | | | 908,964 |
| Elbit Systems, Ltd. | | 4,188 | | | 894,081 |
| ICL Group, Ltd. | | 110,588 | | | 1,055,970 |
| Israel Discount Bank, Ltd., Class A | | 195,259 | | | 1,193,746 |
| Kornit Digital, Ltd. (A) | | 8,000 | | | 248,640 |
| Mizrahi Tefahot Bank, Ltd. | | 24,115 | | | 980,773 |
| Nice, Ltd. (A) | | 9,944 | | | 2,124,654 |
| Teva Pharmaceutical Industries, Ltd., ADR (A) | | 175,036 | | | 1,582,325 |
| Tower Semiconductor, Ltd. (A) | | 17,203 | | | 806,369 |
| Wix.com, Ltd. (A) | | 9,000 | | | 569,610 |
| ZIM Integrated Shipping Services, Ltd. | | 13,400 | | | 483,606 |
| | | | | | 18,009,763 |
| Italy - 0.8% | | | | | |
| Amplifon SpA | | 15,761 | | | 410,748 |
| Assicurazioni Generali SpA | | 146,650 | | | 2,150,888 |
| Atlantia SpA | | 61,802 | | | 1,415,177 |
International Strategic Equity Allocation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| Italy (continued) | | | | | |
| Davide Campari-Milano NV | | 64,600 | | $ | 633,783 |
| DiaSorin SpA | | 3,163 | | | 414,935 |
| Enel SpA | | 1,022,782 | | | 4,806,147 |
| Eni SpA | | 316,858 | | | 3,743,036 |
| Ferrari NV | | 15,821 | | | 3,054,135 |
| FinecoBank Banca Fineco SpA | | 74,349 | | | 803,887 |
| Infrastrutture Wireless Italiane SpA (B) | | 40,174 | | | 372,331 |
| Intesa Sanpaolo SpA | | 2,073,597 | | | 3,569,691 |
| Mediobanca Banca di Credito Finanziario SpA | | 75,650 | | | 598,839 |
| Moncler SpA | | 25,854 | | | 1,150,294 |
| Nexi SpA (A)(B) | | 65,621 | | | 538,389 |
| Poste Italiane SpA (B) | | 68,687 | | | 548,948 |
| Prysmian SpA | | 31,895 | | | 978,631 |
| Recordati Industria Chimica e Farmaceutica SpA | | 12,823 | | | 523,180 |
| Snam SpA | | 242,502 | | | 1,152,595 |
| Telecom Italia SpA (A) | | 1,223,837 | | | 252,429 |
| Terna - Rete Elettrica Nazionale | | 172,666 | | | 1,227,524 |
| UniCredit SpA | | 264,930 | | | 2,592,586 |
| | | | | | 30,938,173 |
| Japan - 10.1% | | | | | |
| Advantest Corp. | | 24,600 | | | 1,393,229 |
| Aeon Company, Ltd. | | 83,700 | | | 1,632,631 |
| AGC, Inc. | | 25,284 | | | 858,112 |
| Aisin Corp. | | 19,100 | | | 567,932 |
| Ajinomoto Company, Inc. | | 60,300 | | | 1,666,683 |
| ANA Holdings, Inc. (A) | | 20,000 | | | 384,527 |
| Asahi Group Holdings, Ltd. | | 59,261 | | | 1,986,918 |
| Asahi Intecc Company, Ltd. | | 28,200 | | | 501,610 |
| Asahi Kasei Corp. | | 163,300 | | | 1,193,363 |
| Astellas Pharma, Inc. | | 241,200 | | | 3,419,682 |
| Azbil Corp. | | 14,800 | | | 421,702 |
| Bandai Namco Holdings, Inc. | | 25,800 | | | 1,935,945 |
| Bridgestone Corp. | | 73,600 | | | 2,824,341 |
| Brother Industries, Ltd. | | 30,300 | | | 579,867 |
| Canon, Inc. | | 129,496 | | | 3,101,340 |
| Capcom Company, Ltd. | | 22,400 | | | 611,402 |
| Central Japan Railway Company | | 18,488 | | | 2,176,593 |
| Chubu Electric Power Company, Inc. | | 80,500 | | | 818,589 |
| Chugai Pharmaceutical Company, Ltd. | | 87,000 | | | 2,245,303 |
| Concordia Financial Group, Ltd. | | 141,200 | | | 447,779 |
| CyberAgent, Inc. | | 54,800 | | | 534,261 |
| Dai Nippon Printing Company, Ltd. | | 28,700 | | | 604,102 |
| Daifuku Company, Ltd. | | 13,100 | | | 764,228 |
| Dai-ichi Life Holdings, Inc. | | 133,600 | | | 2,308,342 |
| Daiichi Sankyo Company, Ltd. | | 227,000 | | | 6,821,760 |
| Daikin Industries, Ltd. | | 32,300 | | | 5,638,519 |
| Daito Trust Construction Company, Ltd. | | 8,000 | | | 787,020 |
| Daiwa House Industry Company, Ltd. | | 77,800 | | | 1,739,392 |
| Daiwa House REIT Investment Corp. | | 271 | | | 626,497 |
| Daiwa Securities Group, Inc. | | 180,718 | | | 788,875 |
| Denso Corp. | | 56,116 | | | 3,062,853 |
| Dentsu Group, Inc. | | 27,844 | | | 896,716 |
| Disco Corp. | | 3,700 | | | 898,396 |
| East Japan Railway Company | | 38,800 | | | 2,009,711 |
| Eisai Company, Ltd. | | 32,554 | | | 1,327,330 |
| ENEOS Holdings, Inc. | | 393,250 | | | 1,486,063 |
| FANUC Corp. | | 24,900 | | | 4,011,372 |
| Fast Retailing Company, Ltd. | | 7,600 | | | 4,443,962 |
| Fuji Electric Company, Ltd. | | 16,500 | | | 712,836 |
| FUJIFILM Holdings Corp. | | 46,615 | | | 2,366,495 |
| Fujitsu, Ltd. | | 25,400 | | | 2,988,902 |
| The accompanying notes are an integral part of the financial statements. | 58 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
International Strategic Equity Allocation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| Japan (continued) | | | | | |
| GLP J-REIT | | 530 | | $ | 645,640 |
| GMO Payment Gateway, Inc. | | 5,500 | | | 436,174 |
| Hakuhodo DY Holdings, Inc. | | 29,600 | | | 264,076 |
| Hamamatsu Photonics KK | | 17,900 | | | 758,936 |
| Hankyu Hanshin Holdings, Inc. | | 28,800 | | | 863,670 |
| Hikari Tsushin, Inc. | | 2,700 | | | 341,349 |
| Hirose Electric Company, Ltd. | | 3,830 | | | 542,702 |
| Hitachi Construction Machinery Company, Ltd. | | 14,100 | | | 289,863 |
| Hitachi Metals, Ltd. (A) | | 25,700 | | | 386,701 |
| Hitachi, Ltd. | | 125,400 | | | 6,265,245 |
| Honda Motor Company, Ltd. | | 211,527 | | | 5,631,328 |
| Hoshizaki Corp. | | 13,800 | | | 409,977 |
| Hoya Corp. | | 47,900 | | | 4,884,688 |
| Hulic Company, Ltd. | | 48,100 | | | 364,500 |
| Ibiden Company, Ltd. | | 14,500 | | | 460,216 |
| Idemitsu Kosan Company, Ltd. | | 26,225 | | | 691,482 |
| Iida Group Holdings Company, Ltd. | | 19,500 | | | 297,041 |
| Inpex Corp. | | 134,500 | | | 1,546,027 |
| Isuzu Motors, Ltd. | | 75,500 | | | 937,686 |
| Ito En, Ltd. | | 6,700 | | | 294,044 |
| ITOCHU Corp. | | 154,137 | | | 4,241,961 |
| Itochu Techno-Solutions Corp. | | 11,800 | | | 297,798 |
| Japan Airlines Company, Ltd. (A) | | 18,200 | | | 332,884 |
| Japan Exchange Group, Inc. | | 66,198 | | | 986,498 |
| Japan Metropolitan Fund Investment Corp. | | 879 | | | 698,082 |
| Japan Post Bank Company, Ltd. | | 50,100 | | | 365,202 |
| Japan Post Holdings Company, Ltd. | | 324,700 | | | 2,240,036 |
| Japan Post Insurance Company, Ltd. | | 28,500 | | | 436,552 |
| Japan Real Estate Investment Corp. | | 155 | | | 717,895 |
| Japan Tobacco, Inc. | | 156,100 | | | 2,644,870 |
| JFE Holdings, Inc. | | 64,800 | | | 696,182 |
| JSR Corp. | | 23,600 | | | 526,441 |
| Kajima Corp. | | 55,400 | | | 582,949 |
| Kakaku.com, Inc. | | 17,200 | | | 316,616 |
| Kao Corp. | | 61,600 | | | 2,667,299 |
| KDDI Corp. | | 208,967 | | | 6,394,627 |
| Keio Corp. | | 12,920 | | | 491,611 |
| Keisei Electric Railway Company, Ltd. | | 17,435 | | | 486,372 |
| Keyence Corp. | | 25,206 | | | 9,464,199 |
| Kikkoman Corp. | | 18,800 | | | 1,149,592 |
| Kintetsu Group Holdings Company, Ltd. | | 21,600 | | | 733,465 |
| Kirin Holdings Company, Ltd. | | 106,527 | | | 1,753,624 |
| Kobayashi Pharmaceutical Company, Ltd. | | 6,800 | | | 385,366 |
| Kobe Bussan Company, Ltd. | | 19,300 | | | 491,483 |
| Koei Tecmo Holdings Company, Ltd. | | 7,170 | | | 240,384 |
| Koito Manufacturing Company, Ltd. | | 13,376 | | | 456,983 |
| Komatsu, Ltd. | | 120,300 | | | 2,516,525 |
| Konami Group Corp. | | 12,100 | | | 614,071 |
| Kose Corp. | | 4,300 | | | 404,948 |
| Kubota Corp. | | 132,700 | | | 2,060,863 |
| Kurita Water Industries, Ltd. | | 13,389 | | | 520,931 |
| Kyocera Corp. | | 41,600 | | | 2,312,285 |
| Kyowa Kirin Company, Ltd. | | 34,528 | | | 773,936 |
| Lasertec Corp. | | 9,800 | | | 1,356,785 |
| Lixil Corp. | | 38,300 | | | 666,017 |
| M3, Inc. | | 57,200 | | | 1,832,224 |
| Makita Corp. | | 29,000 | | | 681,898 |
| Marubeni Corp. | | 202,800 | | | 2,113,639 |
| Mazda Motor Corp. | | 73,680 | | | 652,518 |
| McDonald's Holdings Company Japan, Ltd. | | 10,400 | | | 371,726 |
| MEIJI Holdings Company, Ltd. | | 14,700 | | | 700,292 |
| MINEBEA MITSUMI, Inc. | | 47,300 | | | 812,949 |
International Strategic Equity Allocation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| Japan (continued) | | | | | |
| MISUMI Group, Inc. | | 36,800 | | $ | 903,298 |
| Mitsubishi Chemical Group Corp. | | 165,750 | | | 870,181 |
| Mitsubishi Corp. | | 163,800 | | | 5,362,918 |
| Mitsubishi Electric Corp. | | 251,118 | | | 2,538,839 |
| Mitsubishi Estate Company, Ltd. | | 153,000 | | | 2,060,432 |
| Mitsubishi HC Capital, Inc. | | 83,400 | | | 404,179 |
| Mitsubishi Heavy Industries, Ltd. | | 41,740 | | | 1,609,103 |
| Mitsubishi UFJ Financial Group, Inc. | | 1,540,400 | | | 7,985,353 |
| Mitsui & Company, Ltd. | | 180,800 | | | 4,243,217 |
| Mitsui Chemicals, Inc. | | 24,400 | | | 548,159 |
| Mitsui Fudosan Company, Ltd. | | 118,004 | | | 2,388,474 |
| Mitsui OSK Lines, Ltd. | | 44,900 | | | 1,169,807 |
| Mizuho Financial Group, Inc. | | 311,160 | | | 3,562,900 |
| MonotaRO Company, Ltd. | | 32,200 | | | 577,742 |
| MS&AD Insurance Group Holdings, Inc. | | 59,668 | | | 1,780,251 |
| Murata Manufacturing Company, Ltd. | | 74,397 | | | 4,006,012 |
| NEC Corp. | | 31,700 | | | 1,156,152 |
| Nexon Company, Ltd. | | 64,000 | | | 1,274,375 |
| NGK Insulators, Ltd. | | 31,400 | | | 448,313 |
| Nidec Corp. | | 58,000 | | | 3,853,057 |
| Nihon M&A Center Holdings, Inc. | | 39,300 | | | 487,055 |
| Nintendo Company, Ltd. | | 14,239 | | | 5,828,691 |
| Nippon Building Fund, Inc. | | 193 | | | 961,325 |
| Nippon Express Holdings, Inc. | | 9,980 | | | 549,127 |
| Nippon Paint Holdings Company, Ltd. | | 107,300 | | | 827,534 |
| Nippon Prologis REIT, Inc. | | 266 | | | 669,184 |
| Nippon Sanso Holdings Corp. | | 22,000 | | | 400,117 |
| Nippon Shinyaku Company, Ltd. | | 6,300 | | | 344,607 |
| Nippon Steel Corp. | | 105,478 | | | 1,666,143 |
| Nippon Telegraph & Telephone Corp. | | 154,500 | | | 4,187,613 |
| Nippon Yusen KK | | 21,100 | | | 1,609,385 |
| Nissan Chemical Corp. | | 16,700 | | | 841,389 |
| Nissan Motor Company, Ltd. (A) | | 301,425 | | | 1,185,864 |
| Nisshin Seifun Group, Inc. | | 24,700 | | | 277,972 |
| Nissin Foods Holdings Company, Ltd. | | 7,917 | | | 566,433 |
| Nitori Holdings Company, Ltd. | | 10,400 | | | 994,255 |
| Nitto Denko Corp. | | 18,444 | | | 1,136,755 |
| Nomura Holdings, Inc. | | 387,300 | | | 1,402,371 |
| Nomura Real Estate Holdings, Inc. | | 15,000 | | | 368,518 |
| Nomura Real Estate Master Fund, Inc. | | 529 | | | 647,000 |
| Nomura Research Institute, Ltd. | | 43,200 | | | 1,162,677 |
| NTT Data Corp. | | 81,400 | | | 1,145,491 |
| Obayashi Corp. | | 84,500 | | | 584,452 |
| Obic Company, Ltd. | | 8,900 | | | 1,316,303 |
| Odakyu Electric Railway Company, Ltd. | | 36,600 | | | 499,994 |
| Oji Holdings Corp. | | 104,100 | | | 415,346 |
| Olympus Corp. | | 159,824 | | | 3,403,810 |
| Omron Corp. | | 24,067 | | | 1,266,557 |
| Ono Pharmaceutical Company, Ltd. | | 48,100 | | | 1,148,155 |
| Open House Group Company, Ltd. | | 10,600 | | | 414,862 |
| Oracle Corp. Japan | | 4,800 | | | 285,942 |
| Oriental Land Company, Ltd. | | 25,900 | | | 3,861,365 |
| ORIX Corp. | | 157,000 | | | 2,580,670 |
| Osaka Gas Company, Ltd. | | 47,700 | | | 803,430 |
| Otsuka Corp. | | 14,500 | | | 468,697 |
| Otsuka Holdings Company, Ltd. | | 50,500 | | | 1,649,460 |
| Pan Pacific International Holdings Corp. | | 49,100 | | | 881,620 |
| Panasonic Holdings Corp. | | 286,820 | | | 2,327,368 |
| Persol Holdings Company, Ltd. | | 23,000 | | | 461,707 |
| Rakuten Group, Inc. | | 110,242 | | | 535,033 |
| Recruit Holdings Company, Ltd. | | 186,800 | | | 5,938,485 |
| Renesas Electronics Corp. (A) | | 152,200 | | | 1,441,113 |
| Resona Holdings, Inc. | | 281,200 | | | 1,035,167 |
| Ricoh Company, Ltd. | | 74,000 | | | 581,599 |
| The accompanying notes are an integral part of the financial statements. | 59 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
International Strategic Equity Allocation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| Japan (continued) | | | | | |
| Rohm Company, Ltd. | | 11,500 | | $ | 860,407 |
| SBI Holdings, Inc. | | 33,264 | | | 653,643 |
| SCSK Corp. | | 19,200 | | | 312,639 |
| Secom Company, Ltd. | | 27,094 | | | 1,726,138 |
| Seiko Epson Corp. | | 35,969 | | | 565,210 |
| Sekisui Chemical Company, Ltd. | | 48,600 | | | 662,579 |
| Sekisui House, Ltd. | | 79,900 | | | 1,358,670 |
| Seven & i Holdings Company, Ltd. | | 97,546 | | | 3,875,065 |
| SG Holdings Company, Ltd. | | 36,700 | | | 608,733 |
| Sharp Corp. | | 31,340 | | | 224,349 |
| Shimadzu Corp. | | 30,400 | | | 887,864 |
| Shimano, Inc. | | 9,500 | | | 1,680,639 |
| Shimizu Corp. | | 70,700 | | | 387,681 |
| Shin-Etsu Chemical Company, Ltd. | | 48,637 | | | 5,648,353 |
| Shionogi & Company, Ltd. | | 34,463 | | | 1,682,653 |
| Shiseido Company, Ltd. | | 51,900 | | | 1,960,461 |
| SMC Corp. | | 7,396 | | | 3,508,882 |
| SoftBank Corp. | | 369,700 | | | 4,053,110 |
| SoftBank Group Corp. | | 156,252 | | | 6,189,386 |
| Sompo Holdings, Inc. | | 41,660 | | | 1,786,224 |
| Sony Group Corp. | | 163,400 | | | 12,990,840 |
| Square Enix Holdings Company, Ltd. | | 11,000 | | | 477,631 |
| Subaru Corp. | | 79,700 | | | 1,448,739 |
| SUMCO Corp. | | 45,700 | | | 620,281 |
| Sumitomo Chemical Company, Ltd. | | 194,500 | | | 765,615 |
| Sumitomo Corp. | | 147,355 | | | 2,072,636 |
| Sumitomo Electric Industries, Ltd. | | 93,100 | | | 1,066,423 |
| Sumitomo Metal Mining Company, Ltd. | | 32,200 | | | 1,013,226 |
| Sumitomo Mitsui Financial Group, Inc. | | 168,079 | | | 5,069,811 |
| Sumitomo Mitsui Trust Holdings, Inc. | | 43,638 | | | 1,357,281 |
| Sumitomo Realty & Development Company, Ltd. | | 39,983 | | | 977,821 |
| Suntory Beverage & Food, Ltd. | | 17,800 | | | 650,175 |
| Suzuki Motor Corp. | | 47,700 | | | 1,667,170 |
| Sysmex Corp. | | 21,700 | | | 1,326,456 |
| T&D Holdings, Inc. | | 72,600 | | | 792,880 |
| Taisei Corp. | | 25,000 | | | 757,988 |
| Takeda Pharmaceutical Company, Ltd. | | 194,624 | | | 5,379,418 |
| TDK Corp. | | 50,600 | | | 1,769,089 |
| Terumo Corp. | | 83,746 | | | 2,688,386 |
| The Chiba Bank, Ltd. | | 68,000 | | | 367,325 |
| The Kansai Electric Power Company, Inc. | | 88,300 | | | 855,773 |
| The Shizuoka Bank, Ltd. | | 54,600 | | | 315,962 |
| TIS, Inc. | | 28,900 | | | 822,978 |
| Tobu Railway Company, Ltd. | | 23,100 | | | 545,763 |
| Toho Company, Ltd. | | 14,100 | | | 535,501 |
| Tokio Marine Holdings, Inc. | | 82,714 | | | 4,583,959 |
| Tokyo Electric Power Company Holdings, Inc. (A) | | 198,200 | | | 774,064 |
| Tokyo Electron, Ltd. | | 19,415 | | | 6,089,265 |
| Tokyo Gas Company, Ltd. | | 50,900 | | | 954,946 |
| Tokyu Corp. | | 67,193 | | | 798,773 |
| Toppan, Inc. | | 34,300 | | | 538,669 |
| Toray Industries, Inc. | | 180,500 | | | 1,030,013 |
| Toshiba Corp. | | 50,400 | | | 1,866,511 |
| Tosoh Corp. | | 34,600 | | | 447,373 |
| TOTO, Ltd. | | 18,400 | | | 634,226 |
| Toyota Industries Corp. | | 19,029 | | | 1,063,585 |
| Toyota Motor Corp. | | 1,372,800 | | | 20,544,046 |
| Toyota Tsusho Corp. | | 27,793 | | | 972,981 |
| Trend Micro, Inc. | | 17,100 | | | 1,052,815 |
| Unicharm Corp. | | 52,288 | | | 1,817,098 |
| USS Company, Ltd. | | 28,000 | | | 494,113 |
| Welcia Holdings Company, Ltd. | | 11,700 | | | 245,038 |
International Strategic Equity Allocation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| Japan (continued) | | | | | |
| West Japan Railway Company | | 28,100 | | $ | 1,093,607 |
| Yakult Honsha Company, Ltd. | | 16,400 | | | 969,990 |
| Yamaha Corp. | | 18,100 | | | 706,061 |
| Yamaha Motor Company, Ltd. | | 39,100 | | | 810,320 |
| Yamato Holdings Company, Ltd. | | 37,200 | | | 579,913 |
| Yaskawa Electric Corp. | | 31,300 | | | 1,019,218 |
| Yokogawa Electric Corp. | | 29,700 | | | 518,364 |
| Z Holdings Corp. | | 344,807 | | | 1,013,690 |
| ZOZO, Inc. | | 16,100 | | | 355,862 |
| | | | | | 399,932,860 |
| Jordan - 0.0% | | | | | |
| Hikma Pharmaceuticals PLC | | 43,479 | | | 662,648 |
| Luxembourg - 0.2% | | | | | |
| ArcelorMittal SA | | 112,466 | | | 2,669,292 |
| Aroundtown SA | | 156,802 | | | 457,329 |
| Eurofins Scientific SE | | 24,681 | | | 1,707,641 |
| Reinet Investments SCA | | 24,182 | | | 396,090 |
| Tenaris SA | | 59,416 | | | 812,784 |
| | | | | | 6,043,136 |
| Macau - 0.0% | | | | | |
| Sands China, Ltd. (A) | | 397,252 | | | 888,294 |
| Malaysia - 0.7% | | | | | |
| AMMB Holdings BHD | | 541,900 | | | 503,667 |
| Axiata Group BHD | | 810,200 | | | 549,426 |
| CIMB Group Holdings BHD | | 1,977,400 | | | 2,364,713 |
| Dialog Group BHD | | 1,079,300 | | | 583,855 |
| DiGi.Com BHD | | 908,100 | | | 757,928 |
| Genting BHD | | 634,400 | | | 663,066 |
| Genting Malaysia BHD | | 871,800 | | | 578,679 |
| HAP Seng Consolidated BHD | | 184,300 | | | 285,970 |
| Hartalega Holdings BHD | | 515,500 | | | 190,858 |
| Hong Leong Bank BHD | | 194,600 | | | 905,774 |
| Hong Leong Financial Group BHD | | 66,900 | | | 289,189 |
| IHH Healthcare BHD | | 523,000 | | | 721,832 |
| Inari Amertron BHD | | 831,700 | | | 495,002 |
| IOI Corp. BHD | | 747,100 | | | 704,779 |
| Kuala Lumpur Kepong BHD | | 129,000 | | | 666,537 |
| Malayan Banking BHD | | 1,408,300 | | | 2,817,302 |
| Malaysia Airports Holdings BHD (A) | | 185,700 | | | 242,656 |
| Maxis BHD | | 697,300 | | | 597,740 |
| MISC BHD | | 392,400 | | | 620,872 |
| Mr. D.I.Y Group M BHD (B) | | 686,600 | | | 331,455 |
| Nestle Malaysia BHD | | 19,100 | | | 566,762 |
| Petronas Chemicals Group BHD | | 716,300 | | | 1,405,000 |
| Petronas Dagangan BHD | | 84,400 | | | 442,072 |
| Petronas Gas BHD | | 228,500 | | | 883,041 |
| PPB Group BHD | | 190,300 | | | 748,069 |
| Press Metal Aluminium Holdings BHD | | 1,072,100 | | | 1,136,316 |
| Public Bank BHD | | 4,323,700 | | | 4,540,062 |
| QL Resources BHD | | 320,050 | | | 364,749 |
| RHB Bank BHD | | 429,700 | | | 549,063 |
| Sime Darby BHD | | 821,600 | | | 418,605 |
| Sime Darby Plantation BHD | | 620,100 | | | 616,381 |
| Telekom Malaysia BHD | | 332,400 | | | 441,885 |
| Tenaga Nasional BHD | | 767,300 | | | 1,540,304 |
| Top Glove Corp. BHD | | 1,587,900 | | | 284,306 |
| | | | | | 28,807,915 |
| Malta - 0.0% | | | | | |
| BGP Holdings PLC (A)(D) | | 181,302 | | | 0 |
| Mexico - 0.7% | | | | | |
| Alfa SAB de CV, Class A | | 593,100 | | | 374,763 |
| America Movil SAB de CV, Series L | | 5,699,800 | | | 4,852,037 |
| The accompanying notes are an integral part of the financial statements. | 60 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
International Strategic Equity Allocation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| Mexico (continued) | | | | | |
| Arca Continental SAB de CV | | 89,542 | | $ | 606,058 |
| Cemex SAB de CV, Series CPO (A) | | 3,073,736 | | | 1,133,589 |
| Coca-Cola Femsa SAB de CV | | 107,368 | | | 655,458 |
| Fibra Uno Administracion SA de CV | | 643,600 | | | 670,866 |
| Fomento Economico Mexicano SAB de CV (C) | | 393,186 | | | 2,461,011 |
| Gruma SAB de CV, Class B | | 42,183 | | | 461,162 |
| Grupo Aeroportuario del Pacifico SAB de CV, B Shares | | 73,500 | | | 1,050,412 |
| Grupo Aeroportuario del Sureste SAB de CV, B Shares | | 39,470 | | | 831,463 |
| Grupo Bimbo SAB de CV, Series A | | 271,400 | | | 914,299 |
| Grupo Carso SAB de CV, Series A1 | | 90,400 | | | 310,285 |
| Grupo Financiero Banorte SAB de CV, Series O | | 523,350 | | | 3,091,289 |
| Grupo Financiero Inbursa SAB de CV, Series O (A)(C) | | 438,800 | | | 687,391 |
| Grupo Mexico SAB de CV, Series B | | 626,400 | | | 2,359,902 |
| Grupo Televisa SAB, Series CPO | | 490,297 | | | 616,202 |
| Industrias Penoles SAB de CV | | 26,050 | | | 215,380 |
| Kimberly-Clark de Mexico SAB de CV, Class A | | 306,635 | | | 416,274 |
| Operadora de Sites Mexicanos SAB de CV, Class A1 (C) | | 254,600 | | | 253,380 |
| Orbia Advance Corp. SAB de CV | | 205,215 | | | 387,073 |
| Promotora y Operadora de Infraestructura SAB de CV | | 46,735 | | | 328,826 |
| Wal-Mart de Mexico SAB de CV | | 1,055,500 | | | 3,458,869 |
| | | | | | 26,135,989 |
| Netherlands - 1.9% | | | | | |
| ABN AMRO Bank NV (B) | | 52,628 | | | 505,594 |
| Adyen NV (A)(B) | | 2,724 | | | 4,203,546 |
| Aegon NV | | 245,147 | | | 1,095,572 |
| Akzo Nobel NV | | 22,822 | | | 1,437,824 |
| Argenx SE (A) | | 4,230 | | | 1,592,862 |
| ASM International NV | | 5,898 | | | 1,603,610 |
| ASML Holding NV | | 51,098 | | | 24,941,824 |
| Euronext NV (B) | | 15,890 | | | 1,174,323 |
| EXOR NV | | 13,817 | | | 831,858 |
| Heineken Holding NV | | 12,428 | | | 881,622 |
| Heineken NV | | 32,599 | | | 2,929,981 |
| IMCD NV | | 7,091 | | | 978,249 |
| ING Groep NV | | 487,242 | | | 4,270,422 |
| JDE Peet's NV | | 12,266 | | | 378,227 |
| Just Eat Takeaway.com NV (A)(B) | | 22,949 | | | 381,769 |
| Koninklijke Ahold Delhaize NV | | 131,070 | | | 3,605,334 |
| Koninklijke DSM NV | | 21,967 | | | 2,801,150 |
| Koninklijke KPN NV | | 411,356 | | | 1,308,980 |
| Koninklijke Philips NV | | 111,714 | | | 1,855,354 |
| NN Group NV | | 37,785 | | | 1,552,893 |
| OCI NV | | 12,740 | | | 478,298 |
| Prosus NV (A) | | 104,351 | | | 6,449,910 |
| QIAGEN NV (A) | | 36,690 | | | 1,664,137 |
| Randstad NV | | 15,030 | | | 699,962 |
| Stellantis NV | | 278,023 | | | 3,703,429 |
| Universal Music Group NV | | 90,761 | | | 1,802,335 |
| Wolters Kluwer NV | | 32,804 | | | 3,208,011 |
| | | | | | 76,337,076 |
| New Zealand - 0.2% | | | | | |
| Auckland International Airport, Ltd. (A) | | 284,760 | | | 1,313,244 |
| Fisher & Paykel Healthcare Corp., Ltd. | | 129,589 | | | 1,551,397 |
| Mercury NZ, Ltd. | | 151,111 | | | 534,780 |
| Meridian Energy, Ltd. | | 289,892 | | | 884,400 |
International Strategic Equity Allocation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| New Zealand (continued) | | | | | |
| Spark New Zealand, Ltd. | | 423,700 | | $ | 1,401,562 |
| Xero, Ltd. (A) | | 27,826 | | | 1,636,984 |
| | | | | | 7,322,367 |
| Norway - 0.5% | | | | | |
| Adevinta ASA (A) | | 48,459 | | | 392,065 |
| Aker BP ASA | | 51,410 | | | 1,800,936 |
| DNB Bank ASA | | 154,692 | | | 2,941,314 |
| Equinor ASA | | 161,613 | | | 6,272,306 |
| Gjensidige Forsikring ASA | | 35,882 | | | 728,134 |
| Kongsberg Gruppen ASA | | 14,649 | | | 500,712 |
| Mowi ASA | | 68,698 | | | 1,408,428 |
| Norsk Hydro ASA | | 224,368 | | | 1,541,656 |
| Orkla ASA | | 125,229 | | | 1,048,656 |
| Salmar ASA | | 9,653 | | | 638,328 |
| Telenor ASA | | 114,830 | | | 1,256,585 |
| Yara International ASA | | 27,549 | | | 1,165,254 |
| | | | | | 19,694,374 |
| Peru - 0.1% | | | | | |
| Cia de Minas Buenaventura SAA, ADR | | 62,000 | | | 329,840 |
| Credicorp, Ltd. | | 21,153 | | | 2,726,410 |
| Southern Copper Corp. | | 25,000 | | | 1,176,750 |
| | | | | | 4,233,000 |
| Philippines - 0.2% | | | | | |
| Aboitiz Equity Ventures, Inc. | | 312,040 | | | 311,225 |
| ACEN Corp. | | 1,346,160 | | | 179,270 |
| Ayala Corp. | | 45,540 | | | 567,497 |
| Ayala Land, Inc. | | 1,371,680 | | | 696,309 |
| Bank of the Philippine Islands | | 335,360 | | | 566,218 |
| BDO Unibank, Inc. | | 360,300 | | | 823,879 |
| Converge Information and Communications Technology Solutions, Inc. (A) | | 413,700 | | | 127,565 |
| Globe Telecom, Inc. | | 4,850 | | | 180,961 |
| GT Capital Holdings, Inc. | | 16,403 | | | 140,490 |
| International Container Terminal Services, Inc. | | 184,660 | | | 594,728 |
| JG Summit Holdings, Inc. | | 544,792 | | | 495,410 |
| Jollibee Foods Corp. | | 78,560 | | | 334,845 |
| Manila Electric Company | | 40,710 | | | 218,029 |
| Metro Pacific Investments Corp. | | 1,876,200 | | | 124,495 |
| Metropolitan Bank & Trust Company | | 349,029 | | | 326,213 |
| Monde Nissin Corp. (A)(B) | | 1,156,900 | | | 339,532 |
| PLDT, Inc. | | 15,870 | | | 473,048 |
| SM Investments Corp. | | 44,655 | | | 659,150 |
| SM Prime Holdings, Inc. | | 2,115,500 | | | 1,422,087 |
| Universal Robina Corp. | | 164,430 | | | 356,890 |
| | | | | | 8,937,841 |
| Poland - 0.2% | | | | | |
| Allegro.eu SA (A)(B) | | 62,026 | | | 325,338 |
| Bank Polska Kasa Opieki SA | | 31,479 | | | 435,484 |
| CD Projekt SA | | 11,048 | | | 197,020 |
| Cyfrowy Polsat SA | | 43,301 | | | 178,586 |
| Dino Polska SA (A)(B) | | 8,350 | | | 609,162 |
| KGHM Polska Miedz SA | | 24,286 | | | 455,105 |
| LPP SA | | 191 | | | 343,919 |
| mBank SA (A) | | 2,448 | | | 112,464 |
| Orange Polska SA | | 114,327 | | | 145,693 |
| PGE Polska Grupa Energetyczna SA (A) | | 155,780 | | | 237,464 |
| Polski Koncern Naftowy ORLEN SA | | 70,395 | | | 911,772 |
| Polskie Gornictwo Naftowe i Gazownictwo SA (A) | | 297,958 | | | 353,953 |
| The accompanying notes are an integral part of the financial statements. | 61 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
International Strategic Equity Allocation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| Poland (continued) | | | | | |
| Powszechna Kasa Oszczednosci Bank Polski SA | | 154,860 | | $ | 772,526 |
| Powszechny Zaklad Ubezpieczen SA | | 110,293 | | | 660,195 |
| Santander Bank Polska SA | | 6,006 | | | 272,910 |
| | | | | | 6,011,591 |
| Portugal - 0.1% | | | | | |
| EDP - Energias de Portugal SA | | 344,062 | | | 1,643,108 |
| Galp Energia SGPS SA | | 60,932 | | | 658,006 |
| Jeronimo Martins SGPS SA | | 35,025 | | | 776,568 |
| | | | | | 3,077,682 |
| Qatar - 0.3% | | | | | |
| Barwa Real Estate Company | | 310,742 | | | 313,807 |
| Commercial Bank PSQC | | 313,957 | | | 630,504 |
| Industries Qatar QSC | | 248,528 | | | 1,236,091 |
| Masraf Al Rayan QSC | | 898,918 | | | 1,114,374 |
| Mesaieed Petrochemical Holding Company | | 732,358 | | | 522,145 |
| Ooredoo QPSC | | 129,766 | | | 323,503 |
| Qatar Electricity & Water Company QSC | | 71,803 | | | 372,339 |
| Qatar Fuel QSC | | 75,310 | | | 393,034 |
| Qatar Gas Transport Company, Ltd. | | 393,197 | | | 431,155 |
| Qatar International Islamic Bank QSC | | 112,087 | | | 366,047 |
| Qatar Islamic Bank SAQ | | 269,009 | | | 1,888,812 |
| Qatar National Bank QPSC | | 748,688 | | | 4,236,663 |
| | | | | | 11,828,474 |
| Romania - 0.0% | | | | | |
| NEPI Rockcastle S.A. | | 75,894 | | | 404,405 |
| Saudi Arabia - 1.5% | | | | | |
| ACWA Power Company | | 16,112 | | | 748,768 |
| Advanced Petrochemical Company | | 25,540 | | | 338,828 |
| Al Rajhi Bank (A) | | 392,368 | | | 9,393,210 |
| Alinma Bank | | 195,114 | | | 1,965,729 |
| Almarai Company JSC | | 49,388 | | | 695,095 |
| Arab National Bank | | 120,617 | | | 961,516 |
| Bank AlBilad (A) | | 98,254 | | | 1,320,138 |
| Bank Al-Jazira | | 81,540 | | | 509,141 |
| Banque Saudi Fransi | | 118,689 | | | 1,566,285 |
| Bupa Arabia for Cooperative Insurance Company | | 12,209 | | | 534,759 |
| Dar Al Arkan Real Estate Development Company (A) | | 106,235 | | | 398,305 |
| Dr Sulaiman Al Habib Medical Services Group Company | | 17,398 | | | 924,397 |
| Elm Company | | 4,867 | | | 444,229 |
| Emaar Economic City (A) | | 74,715 | | | 200,206 |
| Etihad Etisalat Company | | 75,551 | | | 734,849 |
| Jarir Marketing Company | | 11,562 | | | 527,895 |
| Mobile Telecommunications Company Saudi Arabia (A) | | 86,039 | | | 264,372 |
| Mouwasat Medical Services Company | | 9,726 | | | 623,342 |
| National Industrialization Company (A) | | 66,353 | | | 279,896 |
| Rabigh Refining & Petrochemical Company (A) | | 81,519 | | | 374,963 |
| Riyad Bank | | 270,509 | | | 2,547,419 |
| SABIC Agri-Nutrients Company | | 42,742 | | | 1,973,138 |
| Sahara International Petrochemical Company | | 72,155 | | | 911,370 |
| Saudi Arabian Mining Company (A) | | 171,911 | | | 3,392,122 |
| Saudi Arabian Oil Company (B) | | 482,782 | | | 4,808,984 |
| Saudi Basic Industries Corp. | | 180,386 | | | 4,791,999 |
| Saudi Electricity Company | | 165,681 | | | 1,109,046 |
| Saudi Industrial Investment Group | | 74,597 | | | 505,933 |
| Saudi Kayan Petrochemical Company (A) | | 147,080 | | | 571,959 |
International Strategic Equity Allocation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| Saudi Arabia (continued) | | | | | |
| Saudi Research & Media Group (A) | | 7,104 | | $ | 398,209 |
| Saudi Tadawul Group Holding Company | | 7,385 | | | 446,135 |
| Saudi Telecom Company | | 300,220 | | | 3,333,197 |
| The Saudi British Bank | | 184,617 | | | 1,958,404 |
| The Saudi Investment Bank | | 98,558 | | | 524,021 |
| The Saudi National Bank | | 438,568 | | | 8,132,751 |
| The Savola Group | | 52,076 | | | 451,109 |
| Yanbu National Petrochemical Company | | 50,719 | | | 673,970 |
| | | | | | 59,335,689 |
| Singapore - 0.7% | | | | | |
| Ascendas Real Estate Investment Trust | | 421,400 | | | 849,293 |
| BOC Aviation, Ltd. (B) | | 39,400 | | | 315,377 |
| CapitaLand Integrated Commercial Trust | | 662,521 | | | 979,885 |
| CapitaLand Investment, Ltd. | | 326,100 | | | 858,549 |
| City Developments, Ltd. | | 50,600 | | | 293,794 |
| DBS Group Holdings, Ltd. | | 226,572 | | | 5,275,390 |
| Genting Singapore, Ltd. | | 775,200 | | | 429,002 |
| Grab Holdings, Ltd., Class A (A) | | 136,200 | | | 388,170 |
| JOYY, Inc., ADR | | 10,700 | | | 324,424 |
| Keppel Corp., Ltd. | | 186,031 | | | 966,156 |
| Mapletree Logistics Trust | | 403,200 | | | 480,956 |
| Mapletree Pan Asia Commercial Trust | | 289,100 | | | 380,165 |
| Oversea-Chinese Banking Corp., Ltd. | | 432,478 | | | 3,727,591 |
| Sea, Ltd., ADR (A) | | 45,200 | | | 2,802,400 |
| Singapore Airlines, Ltd. (A) | | 166,040 | | | 630,430 |
| Singapore Exchange, Ltd. | | 107,100 | | | 726,782 |
| Singapore Technologies Engineering, Ltd. | | 191,300 | | | 509,767 |
| Singapore Telecommunications, Ltd. | | 1,046,248 | | | 1,964,182 |
| United Overseas Bank, Ltd. | | 149,857 | | | 2,922,130 |
| UOL Group, Ltd. | | 59,200 | | | 292,909 |
| Venture Corp., Ltd. | | 35,300 | | | 461,189 |
| Wilmar International, Ltd. | | 246,100 | | | 710,343 |
| | | | | | 26,288,884 |
| South Africa - 0.9% | | | | | |
| Absa Group, Ltd. | | 136,588 | | | 1,414,664 |
| African Rainbow Minerals, Ltd. | | 19,116 | | | 263,279 |
| Anglo American Platinum, Ltd. | | 8,664 | | | 604,830 |
| AngloGold Ashanti, Ltd. | | 68,038 | | | 908,625 |
| Aspen Pharmacare Holdings, Ltd. | | 65,380 | | | 561,078 |
| Bid Corp., Ltd. | | 55,737 | | | 1,055,722 |
| Capitec Bank Holdings, Ltd. | | 14,383 | | | 1,710,216 |
| Clicks Group, Ltd. | | 39,700 | | | 690,253 |
| Discovery, Ltd. (A) | | 89,103 | | | 638,418 |
| Exxaro Resources, Ltd. | | 40,532 | | | 516,388 |
| FirstRand, Ltd. | | 848,479 | | | 3,169,162 |
| Gold Fields, Ltd. | | 146,509 | | | 1,183,259 |
| Growthpoint Properties, Ltd. | | 573,544 | | | 426,620 |
| Harmony Gold Mining Company, Ltd. | | 87,338 | | | 222,415 |
| Impala Platinum Holdings, Ltd. | | 141,296 | | | 1,480,549 |
| Kumba Iron Ore, Ltd. | | 10,576 | | | 234,145 |
| Momentum Metropolitan Holdings | | 35,628 | | | 34,560 |
| Mr. Price Group, Ltd. | | 42,390 | | | 459,203 |
| MTN Group, Ltd. | | 283,695 | | | 2,053,398 |
| MultiChoice Group | | 60,892 | | | 411,216 |
| Naspers, Ltd., N Shares | | 36,510 | | | 5,148,148 |
| Nedbank Group, Ltd. (C) | | 76,954 | | | 908,324 |
| Northam Platinum Holdings, Ltd. (A) | | 55,429 | | | 522,210 |
| Old Mutual, Ltd. | | 823,656 | | | 487,952 |
| Pepkor Holdings, Ltd. (B) | | 276,242 | | | 324,367 |
| Remgro, Ltd. | | 89,464 | | | 663,415 |
| Sanlam, Ltd. | | 308,362 | | | 958,650 |
| Sasol, Ltd. (A) | | 95,065 | | | 1,828,353 |
| Shoprite Holdings, Ltd. | | 83,109 | | | 1,126,960 |
| The accompanying notes are an integral part of the financial statements. | 62 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
International Strategic Equity Allocation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| South Africa (continued) | | | | | |
| Sibanye Stillwater, Ltd. | | 468,204 | | $ | 1,045,978 |
| Standard Bank Group, Ltd. | | 227,380 | | | 2,029,044 |
| The Bidvest Group, Ltd. | | 47,745 | | | 598,090 |
| The Foschini Group, Ltd. | | 54,847 | | | 406,040 |
| The SPAR Group, Ltd. | | 30,902 | | | 282,018 |
| Vodacom Group, Ltd. | | 106,157 | | | 781,386 |
| Woolworths Holdings, Ltd. | | 162,535 | | | 530,252 |
| | | | | | 35,679,187 |
| South Korea - 3.5% | | | | | |
| Alteogen, Inc. (A) | | 5,473 | | | 258,042 |
| Amorepacific Corp. | | 5,789 | | | 527,616 |
| AMOREPACIFIC Group | | 5,582 | | | 144,497 |
| BGF retail Company, Ltd. | | 1,472 | | | 176,314 |
| Celltrion Healthcare Company, Ltd. | | 16,920 | | | 905,460 |
| Celltrion Pharm, Inc. (A) | | 3,196 | | | 185,896 |
| Celltrion, Inc. | | 19,586 | | | 2,756,877 |
| Cheil Worldwide, Inc. | | 12,892 | | | 210,185 |
| CJ CheilJedang Corp. | | 1,634 | | | 495,654 |
| CJ Corp. | | 2,779 | | | 161,689 |
| CJ ENM Company, Ltd. | | 2,038 | | | 148,543 |
| CJ Logistics Corp. (A) | | 1,686 | | | 148,607 |
| Coway Company, Ltd. | | 10,873 | | | 515,863 |
| DB Insurance Company, Ltd. | | 9,913 | | | 441,463 |
| Doosan Bobcat, Inc. | | 10,059 | | | 258,620 |
| Doosan Enerbility Company, Ltd. (A) | | 79,495 | | | 1,194,703 |
| Ecopro BM Company, Ltd. | | 9,616 | | | 795,655 |
| E-MART, Inc. | | 4,283 | | | 310,938 |
| F&F Company, Ltd. | | 3,408 | | | 359,594 |
| Green Cross Corp. | | 1,149 | | | 140,264 |
| GS Engineering & Construction Corp. | | 13,011 | | | 291,035 |
| GS Holdings Corp. | | 9,505 | | | 326,326 |
| Hana Financial Group, Inc. | | 60,091 | | | 1,751,453 |
| Hankook Tire & Technology Company, Ltd. | | 14,811 | | | 417,549 |
| Hanmi Pharm Company, Ltd. | | 1,328 | | | 304,325 |
| Hanon Systems | | 35,047 | | | 268,011 |
| Hanwha Solutions Corp. (A) | | 22,821 | | | 889,834 |
| HD Hyundai Company, Ltd. | | 9,067 | | | 425,726 |
| HLB, Inc. (A) | | 19,090 | | | 696,964 |
| HMM Company, Ltd. | | 53,343 | | | 879,098 |
| Hotel Shilla Company, Ltd. | | 5,847 | | | 320,294 |
| HYBE Company, Ltd. (A) | | 3,277 | | | 439,136 |
| Hyundai Engineering & Construction Company, Ltd. | | 15,490 | | | 553,889 |
| Hyundai Glovis Company, Ltd. | | 3,752 | | | 491,614 |
| Hyundai Heavy Industries Company, Ltd. (A) | | 3,507 | | | 373,183 |
| Hyundai Mobis Company, Ltd. | | 12,276 | | | 1,957,695 |
| Hyundai Motor Company | | 27,682 | | | 4,021,705 |
| Hyundai Steel Company | | 17,318 | | | 422,295 |
| Iljin Materials Company, Ltd. | | 4,559 | | | 249,833 |
| Industrial Bank of Korea | | 54,570 | | | 388,556 |
| Kakao Corp. | | 61,970 | | | 3,365,200 |
| Kakao Games Corp. (A) | | 6,890 | | | 268,742 |
| KakaoBank Corp. (A) | | 23,275 | | | 471,288 |
| Kangwon Land, Inc. (A) | | 18,829 | | | 371,243 |
| KB Financial Group, Inc. | | 79,195 | | | 2,907,167 |
| Kia Corp. | | 52,408 | | | 3,141,223 |
| Korea Aerospace Industries, Ltd. | | 14,538 | | | 659,673 |
| Korea Electric Power Corp. (A) | | 49,346 | | | 769,446 |
| Korea Investment Holdings Company, Ltd. | | 8,954 | | | 377,546 |
| Korea Shipbuilding & Offshore Engineering Company, Ltd. (A) | | 8,292 | | | 598,442 |
International Strategic Equity Allocation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| South Korea (continued) | | | | | |
| Korea Zinc Company, Ltd. | | 1,665 | | $ | 832,878 |
| Korean Air Lines Company, Ltd. (A) | | 34,293 | | | 681,577 |
| Krafton, Inc. (A) | | 4,863 | | | 888,349 |
| KT&G Corp. | | 21,864 | | | 1,358,136 |
| Kumho Petrochemical Company, Ltd. | | 3,661 | | | 353,129 |
| L&F Company, Ltd. (A) | | 4,484 | | | 760,499 |
| LG Chem, Ltd. | | 9,847 | | | 4,609,347 |
| LG Corp. | | 18,997 | | | 1,159,217 |
| LG Display Company, Ltd. | | 45,796 | | | 529,263 |
| LG Electronics, Inc. | | 21,185 | | | 1,585,275 |
| LG Energy Solution, Ltd. (A) | | 4,186 | | | 1,434,614 |
| LG H&H Company, Ltd. | | 1,871 | | | 990,772 |
| LG Innotek Company, Ltd. | | 2,828 | | | 719,890 |
| LG Uplus Corp. | | 41,169 | | | 352,571 |
| Lotte Chemical Corp. | | 3,436 | | | 446,146 |
| Lotte Shopping Company, Ltd. | | 2,200 | | | 161,484 |
| Meritz Financial Group, Inc. | | 6,704 | | | 153,657 |
| Meritz Fire & Marine Insurance Company, Ltd. | | 7,733 | | | 220,781 |
| Meritz Securities Company, Ltd. | | 57,419 | | | 206,941 |
| Mirae Asset Securities Company, Ltd. | | 60,488 | | | 294,990 |
| NAVER Corp. | | 26,082 | | | 4,628,163 |
| NCSoft Corp. | | 3,271 | | | 919,192 |
| Netmarble Corp. (B) | | 4,121 | | | 194,291 |
| NH Investment & Securities Company, Ltd. | | 34,062 | | | 252,155 |
| Orion Corp. | | 4,696 | | | 344,003 |
| Pan Ocean Company, Ltd. | | 52,964 | | | 202,660 |
| Pearl Abyss Corp. (A) | | 5,838 | | | 245,495 |
| POSCO Chemical Company, Ltd. | | 5,324 | | | 661,847 |
| POSCO Holdings, Inc. | | 15,678 | | | 2,965,732 |
| S-1 Corp. | | 3,017 | | | 130,998 |
| Samsung Biologics Company, Ltd. (A)(B) | | 3,493 | | | 2,172,504 |
| Samsung C&T Corp. | | 16,840 | | | 1,507,801 |
| Samsung Electro-Mechanics Company, Ltd. | | 11,147 | | | 1,154,123 |
| Samsung Electronics Company, Ltd. | | 950,618 | | | 42,113,113 |
| Samsung Engineering Company, Ltd. (A) | | 30,952 | | | 538,164 |
| Samsung Fire & Marine Insurance Company, Ltd. | | 6,459 | | | 938,713 |
| Samsung Heavy Industries Company, Ltd. (A) | | 119,522 | | | 530,300 |
| Samsung Life Insurance Company, Ltd. | | 16,668 | | | 769,296 |
| Samsung SDI Company, Ltd. | | 10,933 | | | 4,833,497 |
| Samsung SDS Company, Ltd. | | 6,837 | | | 652,514 |
| Samsung Securities Company, Ltd. | | 13,885 | | | 349,557 |
| SD Biosensor, Inc. | | 7,312 | | | 191,169 |
| Seegene, Inc. | | 7,338 | | | 171,914 |
| Shinhan Financial Group Company, Ltd. | | 92,359 | | | 2,502,326 |
| SK Biopharmaceuticals Company, Ltd. (A) | | 6,063 | | | 322,352 |
| SK Bioscience Company, Ltd. (A) | | 4,587 | | | 384,018 |
| SK Chemicals Company, Ltd. | | 2,278 | | | 165,139 |
| SK Hynix, Inc. | | 108,713 | | | 7,643,390 |
| SK IE Technology Company, Ltd. (A)(B) | | 4,928 | | | 303,133 |
| SK Innovation Company, Ltd. (A) | | 10,982 | | | 1,545,995 |
| SK Square Company, Ltd. (A) | | 19,826 | | | 595,751 |
| SK Telecom Company, Ltd. | | 5,119 | | | 198,599 |
| SK, Inc. | | 7,327 | | | 1,267,344 |
| SKC Company, Ltd. | | 4,086 | | | 367,168 |
| S-Oil Corp. | | 8,846 | | | 670,969 |
| Woori Financial Group, Inc. | | 102,367 | | | 926,004 |
| Yuhan Corp. | | 9,888 | | | 418,173 |
| | | | | | 140,052,049 |
| The accompanying notes are an integral part of the financial statements. | 63 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
International Strategic Equity Allocation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| Spain - 1.0% | | | | | |
| Acciona SA | | 3,122 | | $ | 611,497 |
| ACS Actividades de Construccion y Servicios SA | | 31,003 | | | 690,737 |
| Aena SME SA (A)(B) | | 9,455 | | | 1,161,284 |
| Amadeus IT Group SA (A) | | 57,444 | | | 3,032,445 |
| Banco Bilbao Vizcaya Argentaria SA | | 852,087 | | | 3,823,495 |
| Banco Santander SA (C) | | 2,213,719 | | | 5,358,766 |
| CaixaBank SA | | 558,831 | | | 1,687,399 |
| Cellnex Telecom SA (A)(B) | | 69,142 | | | 2,692,590 |
| EDP Renovaveis SA | | 35,662 | | | 864,885 |
| Enagas SA | | 29,437 | | | 537,525 |
| Endesa SA | | 39,832 | | | 683,202 |
| Ferrovial SA | | 61,442 | | | 1,540,659 |
| Grifols SA (A)(C) | | 38,137 | | | 461,023 |
| Iberdrola SA | | 760,265 | | | 7,915,686 |
| Industria de Diseno Textil SA | | 139,515 | | | 3,012,342 |
| Mapfre SA | | 16,854 | | | 27,960 |
| Naturgy Energy Group SA (C) | | 17,864 | | | 492,596 |
| Red Electrica Corp. SA | | 50,513 | | | 923,522 |
| Repsol SA | | 185,937 | | | 2,414,975 |
| Siemens Gamesa Renewable Energy SA (A) | | 30,188 | | | 543,928 |
| Telefonica SA | | 688,572 | | | 2,841,761 |
| | | | | | 41,318,277 |
| Sweden - 1.3% | | | | | |
| Alfa Laval AB | | 34,698 | | | 925,306 |
| Alleima AB (A) | | 25,144 | | | 100,954 |
| Assa Abloy AB, B Shares | | 118,461 | | | 2,399,306 |
| Atlas Copco AB, A Shares | | 312,062 | | | 3,167,750 |
| Atlas Copco AB, B Shares | | 189,193 | | | 1,722,752 |
| Boliden AB | | 32,299 | | | 1,034,284 |
| Electrolux AB, Series B | | 26,640 | | | 336,864 |
| Embracer Group AB (A)(C) | | 73,771 | | | 457,710 |
| Epiroc AB, A Shares | | 77,189 | | | 1,181,055 |
| Epiroc AB, B Shares | | 45,915 | | | 625,079 |
| EQT AB | | 35,506 | | | 795,257 |
| Essity AB, B Shares | | 71,644 | | | 1,589,298 |
| Evolution AB (B) | | 21,544 | | | 1,723,591 |
| Fastighets AB Balder, B Shares (A) | | 74,710 | | | 412,564 |
| Getinge AB, B Shares | | 27,119 | | | 502,286 |
| Hennes & Mauritz AB, B Shares (C) | | 86,164 | | | 894,841 |
| Hexagon AB, B Shares | | 229,595 | | | 2,346,241 |
| Holmen AB, B Shares | | 10,949 | | | 469,762 |
| Husqvarna AB, B Shares | | 49,497 | | | 333,037 |
| Industrivarden AB, A Shares | | 19,894 | | | 440,890 |
| Industrivarden AB, C Shares (C) | | 13,620 | | | 298,795 |
| Indutrade AB | | 31,205 | | | 577,792 |
| Investment AB Latour, B Shares | | 17,001 | | | 334,908 |
| Investor AB, A Shares (C) | | 53,289 | | | 885,701 |
| Investor AB, B Shares | | 221,780 | | | 3,495,520 |
| Kinnevik AB, B Shares (A) | | 28,668 | | | 407,975 |
| L.E. Lundbergforetagen AB, B Shares | | 8,929 | | | 368,779 |
| Lifco AB, B Shares | | 27,106 | | | 421,040 |
| Nibe Industrier AB, B Shares | | 178,449 | | | 1,671,130 |
| Sagax AB, B Shares | | 22,250 | | | 478,531 |
| Sandvik AB | | 125,721 | | | 1,960,053 |
| Securitas AB, B Shares (C) | | 37,493 | | | 328,315 |
| Sinch AB (A)(B) | | 65,426 | | | 126,492 |
| Skandinaviska Enskilda Banken AB, A Shares | | 191,786 | | | 1,911,858 |
| Skanska AB, B Shares | | 40,285 | | | 595,117 |
| SKF AB, B Shares | | 45,262 | | | 678,594 |
| Svenska Cellulosa AB SCA, B Shares | | 71,080 | | | 1,065,028 |
International Strategic Equity Allocation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| Sweden (continued) | | | | | |
| Svenska Handelsbanken AB, A Shares | | 168,886 | | $ | 1,383,206 |
| Swedbank AB, A Shares | | 105,192 | | | 1,359,597 |
| Swedish Match AB | | 184,586 | | | 1,853,085 |
| Swedish Orphan Biovitrum AB (A) | | 19,981 | | | 441,217 |
| Tele2 AB, B Shares | | 65,684 | | | 699,520 |
| Telefonaktiebolaget LM Ericsson, B Shares | | 343,744 | | | 2,570,663 |
| Telia Company AB | | 310,024 | | | 1,091,202 |
| Volvo AB, A Shares | | 11,006 | | | 183,168 |
| Volvo AB, B Shares | | 191,314 | | | 3,030,470 |
| Volvo Car AB, B Shares (A)(C) | | 70,045 | | | 426,673 |
| | | | | | 50,103,256 |
| Switzerland - 5.6% | | | | | |
| ABB, Ltd. | | 239,374 | | | 6,598,017 |
| Adecco Group AG | | 23,421 | | | 742,458 |
| Alcon, Inc. | | 73,060 | | | 4,810,487 |
| Bachem Holding AG | | 4,501 | | | 311,679 |
| Baloise Holding AG | | 7,402 | | | 1,068,248 |
| Barry Callebaut AG | | 506 | | | 1,035,345 |
| Chocoladefabriken Lindt & Spruengli AG | | 15 | | | 1,633,408 |
| Chocoladefabriken Lindt & Spruengli AG, Participation Certificates | | 158 | | | 1,671,066 |
| Cie Financiere Richemont SA, A Shares | | 76,246 | | | 8,526,471 |
| Clariant AG (A) | | 31,029 | | | 572,899 |
| Coca-Cola HBC AG (A) | | 50,199 | | | 1,145,505 |
| Credit Suisse Group AG | | 389,450 | | | 2,009,610 |
| EMS-Chemie Holding AG | | 972 | | | 682,574 |
| Geberit AG | | 5,165 | | | 2,386,465 |
| Givaudan SA | | 1,342 | | | 4,281,754 |
| Glencore PLC (A) | | 2,476,727 | | | 13,541,611 |
| Holcim, Ltd. (A) | | 80,934 | | | 3,587,441 |
| Julius Baer Group, Ltd. | | 32,941 | | | 1,591,699 |
| Kuehne + Nagel International AG | | 7,856 | | | 1,815,608 |
| Logitech International SA | | 25,030 | | | 1,245,391 |
| Lonza Group AG | | 10,881 | | | 5,803,055 |
| Nestle SA | | 410,759 | | | 48,068,240 |
| Novartis AG | | 319,980 | | | 25,882,565 |
| Partners Group Holding AG | | 3,335 | | | 3,219,122 |
| Roche Holding AG | | 102,668 | | | 33,083,905 |
| Roche Holding AG, Bearer Shares | | 3,784 | | | 1,445,331 |
| Schindler Holding AG | | 2,661 | | | 449,418 |
| Schindler Holding AG, Participation Certificates | | 6,552 | | | 1,141,403 |
| SGS SA | | 904 | | | 1,990,774 |
| Sika AG | | 21,196 | | | 4,768,989 |
| Sonova Holding AG | | 7,831 | | | 2,063,263 |
| STMicroelectronics NV | | 125,553 | | | 4,375,564 |
| Straumann Holding AG | | 16,276 | | | 1,783,569 |
| Swiss Life Holding AG | | 4,775 | | | 2,495,784 |
| Swiss Prime Site AG | | 10,771 | | | 926,329 |
| Swiss Re AG | | 45,248 | | | 3,518,290 |
| Swisscom AG | | 3,702 | | | 1,914,046 |
| Temenos AG | | 9,199 | | | 753,344 |
| The Swatch Group AG | | 3,721 | | | 169,227 |
| The Swatch Group AG, Bearer Shares | | 4,922 | | | 1,193,563 |
| UBS Group AG | | 516,203 | | | 8,180,128 |
| VAT Group AG (B) | | 3,894 | | | 931,081 |
| Zurich Insurance Group AG | | 22,328 | | | 9,911,392 |
| | | | | | 223,326,118 |
| Taiwan - 2.6% | | | | | |
| Accton Technology Corp. | | 56,000 | | | 515,682 |
| Acer, Inc. | | 322,000 | | | 231,268 |
| Advantech Company, Ltd. | | 46,265 | | | 493,555 |
| ASE Technology Holding Company, Ltd. | | 372,000 | | | 1,034,908 |
| The accompanying notes are an integral part of the financial statements. | 64 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
International Strategic Equity Allocation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| Taiwan (continued) | | | | | |
| Asia Cement Corp. | | 254,000 | | $ | 359,570 |
| ASMedia Technology, Inc. | | 3,000 | | | 90,552 |
| Asustek Computer, Inc. | | 80,000 | | | 665,683 |
| AUO Corp. | | 901,000 | | | 491,973 |
| Catcher Technology Company, Ltd. | | 77,000 | | | 466,758 |
| Cathay Financial Holding Company, Ltd. | | 919,000 | | | 1,336,985 |
| Chailease Holding Company, Ltd. | | 152,760 | | | 980,828 |
| Chang Hwa Commercial Bank, Ltd. | | 522,062 | | | 301,549 |
| Cheng Shin Rubber Industry Company, Ltd. | | 186,000 | | | 215,471 |
| China Airlines, Ltd. | | 311,000 | | | 230,055 |
| China Development Financial Holding Corp. | | 1,799,548 | | | 786,210 |
| China Steel Corp. | | 1,304,000 | | | 1,234,975 |
| Chunghwa Telecom Company, Ltd. | | 426,000 | | | 1,690,406 |
| Compal Electronics, Inc. | | 461,000 | | | 343,245 |
| CTBC Financial Holding Company, Ltd. | | 1,946,000 | | | 1,490,551 |
| Delta Electronics, Inc. | | 217,000 | | | 1,857,879 |
| E Ink Holdings, Inc. | | 96,000 | | | 746,480 |
| E.Sun Financial Holding Company, Ltd. | | 1,407,165 | | | 1,296,575 |
| Eclat Textile Company, Ltd. | | 21,340 | | | 309,077 |
| eMemory Technology, Inc. | | 7,000 | | | 313,070 |
| Eva Airways Corp. | | 287,000 | | | 314,084 |
| Evergreen Marine Corp. Taiwan, Ltd. | | 283,900 | | | 813,577 |
| Far Eastern New Century Corp. | | 343,000 | | | 367,545 |
| Far EasTone Telecommunications Company, Ltd. | | 171,000 | | | 419,387 |
| Feng TAY Enterprise Company, Ltd. | | 47,920 | | | 268,848 |
| First Financial Holding Company, Ltd. | | 1,150,877 | | | 998,476 |
| Formosa Chemicals & Fibre Corp. | | 390,000 | | | 876,174 |
| Formosa Petrochemical Corp. | | 117,000 | | | 320,710 |
| Formosa Plastics Corp. | | 463,000 | | | 1,380,478 |
| Fubon Financial Holding Company, Ltd. | | 803,100 | | | 1,505,852 |
| Giant Manufacturing Company, Ltd. | | 33,000 | | | 257,777 |
| Globalwafers Company, Ltd. | | 24,000 | | | 379,701 |
| Hon Hai Precision Industry Company, Ltd. | | 1,392,800 | | | 4,959,455 |
| Hotai Motor Company, Ltd. | | 33,000 | | | 661,245 |
| Hua Nan Financial Holdings Company, Ltd. | | 949,104 | | | 720,383 |
| Innolux Corp. | | 1,110,000 | | | 437,221 |
| Inventec Corp. | | 260,000 | | | 196,838 |
| Largan Precision Company, Ltd. | | 11,000 | | | 699,712 |
| Lite-On Technology Corp. | | 221,000 | | | 475,599 |
| MediaTek, Inc. | | 169,000 | | | 3,656,609 |
| Mega Financial Holding Company, Ltd. | | 1,239,225 | | | 1,453,520 |
| Micro-Star International Company, Ltd. | | 76,000 | | | 284,516 |
| momo.com, Inc. | | 7,200 | | | 170,730 |
| Nan Ya Plastics Corp. | | 533,000 | | | 1,197,223 |
| Nan Ya Printed Circuit Board Corp. | | 25,000 | | | 218,106 |
| Nanya Technology Corp. | | 141,000 | | | 244,888 |
| Nien Made Enterprise Company, Ltd. | | 19,000 | | | 175,460 |
| Novatek Microelectronics Corp. | | 65,000 | | | 556,095 |
| Pegatron Corp. | | 221,000 | | | 459,641 |
| Pou Chen Corp. | | 256,000 | | | 242,507 |
| Powerchip Semiconductor Manufacturing Corp. | | 293,000 | | | 328,553 |
| President Chain Store Corp. | | 61,000 | | | 536,042 |
| Quanta Computer, Inc. | | 299,000 | | | 775,130 |
| Realtek Semiconductor Corp. | | 50,000 | | | 561,835 |
| Ruentex Development Company, Ltd. | | 128,976 | | | 265,955 |
| Shin Kong Financial Holding Company, Ltd. | | 1,571,988 | | | 451,603 |
| SinoPac Financial Holdings Company, Ltd. | | 1,128,777 | | | 639,918 |
| Synnex Technology International Corp. | | 154,000 | | | 280,709 |
International Strategic Equity Allocation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| Taiwan (continued) | | | | | |
| Taishin Financial Holding Company, Ltd. | | 1,177,173 | | $ | 584,263 |
| Taiwan Cement Corp. | | 670,442 | | | 863,052 |
| Taiwan Cooperative Financial Holding Company, Ltd. | | 1,056,841 | | | 954,423 |
| Taiwan High Speed Rail Corp. | | 179,000 | | | 171,136 |
| Taiwan Mobile Company, Ltd. | | 184,000 | | | 601,430 |
| Taiwan Semiconductor Manufacturing Company, Ltd. | | 2,740,816 | | | 44,866,600 |
| The Shanghai Commercial & Savings Bank, Ltd. | | 385,000 | | | 626,668 |
| Unimicron Technology Corp. | | 140,000 | | | 685,962 |
| Uni-President Enterprises Corp. | | 532,000 | | | 1,149,685 |
| United Microelectronics Corp. (A) | | 1,323,000 | | | 1,760,208 |
| Vanguard International Semiconductor Corp. | | 100,000 | | | 241,753 |
| Voltronic Power Technology Corp. | | 7,000 | | | 395,001 |
| Walsin Lihwa Corp. | | 290,000 | | | 374,516 |
| Wan Hai Lines, Ltd. | | 79,545 | | | 224,189 |
| Win Semiconductors Corp. | | 37,000 | | | 218,777 |
| Winbond Electronics Corp. | | 335,000 | | | 241,369 |
| Wiwynn Corp. | | 10,000 | | | 250,335 |
| WPG Holdings, Ltd. | | 171,960 | | | 289,190 |
| Yageo Corp. | | 48,556 | | | 519,317 |
| Yang Ming Marine Transport Corp. | | 195,000 | | | 499,546 |
| Yuanta Financial Holding Company, Ltd. | | 1,110,834 | | | 737,367 |
| Zhen Ding Technology Holding, Ltd. | | 77,000 | | | 285,761 |
| | | | | | 102,575,955 |
| Thailand - 0.6% | | | | | |
| Advanced Info Service PCL, NVDR | | 224,200 | | | 1,179,542 |
| Airports of Thailand PCL, NVDR (A) | | 805,000 | | | 1,604,166 |
| Asset World Corp. PCL | | 96,000 | | | 14,703 |
| Asset World Corp. PCL, NVDR | | 1,435,100 | | | 219,801 |
| B. Grimm Power PCL, NVDR | | 170,400 | | | 172,614 |
| Bangkok Commercial Asset Management PCL, NVDR | | 332,300 | | | 167,481 |
| Bangkok Dusit Medical Services PCL, NVDR | | 1,950,900 | | | 1,563,551 |
| Bangkok Expressway & Metro PCL, NVDR | | 1,368,400 | | | 328,112 |
| Berli Jucker PCL, NVDR | | 223,700 | | | 205,574 |
| BTS Group Holdings PCL, NVDR | | 1,434,100 | | | 330,120 |
| Bumrungrad Hospital PCL, NVDR | | 90,100 | | | 533,505 |
| Carabao Group PCL, NVDR | | 55,100 | | | 152,449 |
| Central Pattana PCL, NVDR | | 381,800 | | | 724,050 |
| Central Retail Corp. PCL, NVDR | | 328,733 | | | 364,387 |
| Charoen Pokphand Foods PCL, NVDR | | 736,000 | | | 524,404 |
| CP ALL PCL, NVDR | | 1,099,100 | | | 1,852,595 |
| Delta Electronics Thailand PCL, NVDR | | 58,700 | | | 841,119 |
| Electricity Generating PCL, NVDR | | 51,400 | | | 257,723 |
| Energy Absolute PCL, NVDR | | 315,900 | | | 737,530 |
| Global Power Synergy PCL, NVDR | | 133,700 | | | 248,878 |
| Gulf Energy Development PCL | | 15,000 | | | 21,049 |
| Gulf Energy Development PCL, NVDR | | 532,100 | | | 746,671 |
| Home Product Center PCL, NVDR | | 1,092,500 | | | 416,184 |
| Indorama Ventures PCL, NVDR | | 321,500 | | | 380,756 |
| Intouch Holdings PCL, NVDR | | 210,200 | | | 418,704 |
| JMT Network Services PCL, NVDR | | 120,900 | | | 258,298 |
| Krung Thai Bank PCL, NVDR | | 702,200 | | | 324,677 |
| Krungthai Card PCL, NVDR | | 166,100 | | | 273,871 |
| Land & Houses PCL, NVDR | | 1,630,500 | | | 397,778 |
| Minor International PCL, NVDR (A) | | 577,200 | | | 516,881 |
| Muangthai Capital PCL, NVDR | | 141,100 | | | 164,155 |
| Osotspa PCL, NVDR | | 260,000 | | | 222,612 |
| The accompanying notes are an integral part of the financial statements. | 65 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
International Strategic Equity Allocation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| Thailand (continued) | | | | | |
| PTT Exploration & Production PCL, NVDR | | 257,200 | | $ | 1,189,558 |
| PTT Global Chemical PCL, NVDR | | 443,400 | | | 576,521 |
| PTT Oil & Retail Business PCL, NVDR | | 555,800 | | | 414,924 |
| PTT PCL, NVDR | | 1,892,000 | | | 1,943,883 |
| Ratch Group PCL, NVDR | | 231,700 | | | 279,498 |
| SCB X PCL, NVDR | | 161,600 | | | 488,494 |
| SCG Packaging PCL, NVDR | | 258,700 | | | 401,857 |
| Srisawad Corp. PCL, NVDR | | 133,600 | | | 178,170 |
| Thai Oil PCL, NVDR | | 203,000 | | | 337,749 |
| Thai Union Group PCL, NVDR | | 541,200 | | | 259,513 |
| The Siam Cement PCL, NVDR | | 148,100 | | | 1,452,857 |
| True Corp. PCL, NVDR | | 2,181,800 | | | 272,699 |
| | | | | | 23,959,663 |
| Turkey - 0.1% | | | | | |
| Akbank TAS | | 390,439 | | | 250,773 |
| Aselsan Elektronik Sanayi Ve Ticaret AS | | 85,168 | | | 121,836 |
| BIM Birlesik Magazalar AS | | 53,059 | | | 318,325 |
| Eregli Demir ve Celik Fabrikalari TAS | | 169,478 | | | 267,803 |
| Ford Otomotiv Sanayi AS | | 8,059 | | | 146,433 |
| Haci Omer Sabanci Holding AS | | 126,386 | | | 176,554 |
| KOC Holding AS | | 96,618 | | | 241,052 |
| Turk Hava Yollari AO (A) | | 70,418 | | | 282,422 |
| Turkcell Iletisim Hizmetleri AS | | 148,062 | | | 174,965 |
| Turkiye Is Bankasi AS, Class C | | 470,794 | | | 203,936 |
| Turkiye Petrol Rafinerileri AS (A) | | 14,020 | | | 276,416 |
| Turkiye Sise ve Cam Fabrikalari AS | | 169,585 | | | 229,579 |
| | | | | | 2,690,094 |
| United Arab Emirates - 0.4% | | | | | |
| Abu Dhabi Commercial Bank PJSC | | 528,973 | | | 1,304,926 |
| Abu Dhabi Islamic Bank PJSC | | 274,803 | | | 661,048 |
| Abu Dhabi National Oil Company for Distribution PJSC | | 580,227 | | | 701,086 |
| Aldar Properties PJSC | | 734,261 | | | 961,606 |
| Dubai Islamic Bank PJSC | | 552,204 | | | 878,258 |
| Emaar Properties PJSC | | 775,718 | | | 1,318,304 |
| Emirates NBD Bank PJSC | | 358,772 | | | 1,301,513 |
| Emirates Telecommunications Group Company PJSC | | 660,775 | | | 4,630,585 |
| First Abu Dhabi Bank PJSC | | 837,349 | | | 4,348,733 |
| NMC Health PLC (A) | | 5,577 | | | 11 |
| | | | | | 16,106,070 |
| United Kingdom - 12.7% | | | | | |
| 3i Group PLC | | 247,218 | | | 3,479,900 |
| abrdn PLC | | 580,997 | | | 987,374 |
| Admiral Group PLC | | 45,668 | | | 1,123,374 |
| Anglo American PLC | | 318,302 | | | 10,228,438 |
| Ashtead Group PLC | | 111,486 | | | 5,477,046 |
| Associated British Foods PLC | | 89,009 | | | 1,571,983 |
| AstraZeneca PLC | | 388,095 | | | 48,004,235 |
| Auto Trader Group PLC (B) | | 235,596 | | | 1,778,905 |
| AVEVA Group PLC | | 29,865 | | | 968,474 |
| Aviva PLC | | 728,140 | | | 3,532,375 |
| BAE Systems PLC | | 788,400 | | | 7,100,388 |
| Barclays PLC | | 4,180,512 | | | 7,970,924 |
| Barratt Developments PLC | | 258,188 | | | 1,278,230 |
| BP PLC | | 4,871,452 | | | 24,892,675 |
| British American Tobacco PLC | | 545,684 | | | 21,856,074 |
| BT Group PLC | | 1,738,133 | | | 3,040,508 |
| Bunzl PLC | | 84,187 | | | 2,791,983 |
| Burberry Group PLC | | 99,984 | | | 2,022,538 |
| CNH Industrial NV | | 129,633 | | | 1,578,298 |
| Coca-Cola Europacific Partners PLC | | 25,878 | | | 1,272,421 |
International Strategic Equity Allocation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| United Kingdom (continued) | | | | | |
| Compass Group PLC | | 446,865 | | $ | 9,612,511 |
| Croda International PLC | | 34,941 | | | 2,723,465 |
| Diageo PLC | | 580,008 | | | 25,199,182 |
| Entain PLC | | 146,861 | | | 2,160,705 |
| Ferguson PLC | | 54,755 | | | 6,341,057 |
| GSK PLC | | 1,019,029 | | | 16,289,147 |
| Haleon PLC (A) | | 1,271,792 | | | 3,824,344 |
| Halma PLC | | 95,131 | | | 2,288,366 |
| Hargreaves Lansdown PLC | | 89,326 | | | 845,663 |
| HSBC Holdings PLC | | 5,076,345 | | | 31,101,878 |
| Imperial Brands PLC | | 226,472 | | | 4,980,521 |
| Informa PLC | | 373,284 | | | 2,361,628 |
| InterContinental Hotels Group PLC | | 46,186 | | | 2,507,254 |
| Intertek Group PLC | | 40,154 | | | 1,843,006 |
| J Sainsbury PLC | | 433,747 | | | 1,023,796 |
| JD Sports Fashion PLC | | 643,989 | | | 842,355 |
| Johnson Matthey PLC | | 46,607 | | | 1,087,376 |
| Kingfisher PLC | | 512,967 | | | 1,377,963 |
| Land Securities Group PLC | | 175,103 | | | 1,320,695 |
| Legal & General Group PLC | | 1,525,792 | | | 4,469,137 |
| Lloyds Banking Group PLC | | 17,804,821 | | | 9,022,692 |
| London Stock Exchange Group PLC | | 82,485 | | | 7,737,196 |
| M&G PLC | | 642,971 | | | 1,459,177 |
| Melrose Industries PLC | | 1,093,190 | | | 1,725,107 |
| Mondi PLC | | 121,743 | | | 2,066,633 |
| National Grid PLC | | 910,604 | | | 11,338,669 |
| NatWest Group PLC | | 1,308,441 | | | 3,733,844 |
| Next PLC | | 32,948 | | | 2,218,771 |
| Ocado Group PLC (A) | | 144,160 | | | 1,211,535 |
| Pearson PLC | | 169,692 | | | 1,698,269 |
| Persimmon PLC | | 80,202 | | | 1,372,341 |
| Phoenix Group Holdings PLC | | 188,621 | | | 1,317,436 |
| Prudential PLC | | 693,239 | | | 7,275,635 |
| Reckitt Benckiser Group PLC | | 178,867 | | | 13,801,623 |
| RELX PLC | | 483,851 | | | 12,689,008 |
| Rentokil Initial PLC | | 464,597 | | | 2,805,913 |
| Rio Tinto PLC | | 281,373 | | | 15,534,634 |
| Rolls-Royce Holdings PLC (A) | | 2,089,511 | | | 1,862,206 |
| Schroders PLC | | 33,085 | | | 1,029,143 |
| Segro PLC | | 301,655 | | | 3,291,946 |
| Severn Trent PLC | | 61,283 | | | 1,979,531 |
| Shell PLC | | 1,905,907 | | | 50,445,457 |
| Smith & Nephew PLC | | 220,193 | | | 2,590,064 |
| Smiths Group PLC | | 96,535 | | | 1,667,718 |
| Spirax-Sarco Engineering PLC | | 18,405 | | | 2,246,809 |
| SSE PLC | | 266,527 | | | 5,107,367 |
| St. James's Place PLC | | 137,919 | | | 1,765,349 |
| Standard Chartered PLC | | 650,694 | | | 4,506,792 |
| Taylor Wimpey PLC | | 923,973 | | | 1,159,153 |
| Tesco PLC | | 1,908,705 | | | 5,512,838 |
| The Berkeley Group Holdings PLC | | 28,089 | | | 1,189,090 |
| The British Land Company PLC | | 218,027 | | | 1,087,561 |
| The Sage Group PLC | | 253,062 | | | 2,097,546 |
| Unilever PLC | | 641,435 | | | 29,096,894 |
| United Utilities Group PLC | | 167,385 | | | 2,051,513 |
| Vodafone Group PLC | | 6,754,489 | | | 9,043,235 |
| Whitbread PLC | | 50,287 | | | 1,457,482 |
| WPP PLC | | 285,686 | | | 2,460,620 |
| | | | | | 501,812,989 |
| United States - 0.1% | | | | | |
| Bausch Health Companies, Inc. (A) | | 64,946 | | | 389,671 |
| Brookfield Renewable Corp., Class A | | 29,881 | | | 1,148,280 |
| Legend Biotech Corp., ADR (A) | | 9,314 | | | 433,008 |
| The accompanying notes are an integral part of the financial statements. | 66 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
International Strategic Equity Allocation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| United States (continued) | | | | | |
| Parade Technologies, Ltd. | | 8,255 | | $ | 231,088 |
| | | | | | 2,202,047 |
| TOTAL COMMON STOCKS (Cost $4,226,303,278) | | $ | 3,728,761,441 |
| PREFERRED SECURITIES - 1.0% | | | |
| Brazil - 0.5% | | | | | |
| Banco Bradesco SA | | 1,040,887 | | | 3,793,483 |
| Braskem SA, A Shares | | 36,800 | | | 215,393 |
| Centrais Eletricas Brasileiras SA, B Shares | | 52,700 | | | 485,224 |
| Cia Energetica de Minas Gerais | | 267,295 | | | 621,688 |
| Gerdau SA | | 219,200 | | | 982,574 |
| Itau Unibanco Holding SA | | 925,000 | | | 4,589,084 |
| Itausa SA | | 894,128 | | | 1,572,596 |
| Petroleo Brasileiro SA | | 917,400 | | | 5,859,834 |
| | | | | | 18,119,876 |
| Chile - 0.1% | | | | | |
| Sociedad Quimica y Minera de Chile SA, B Shares | | 27,726 | | | 2,771,888 |
| Colombia - 0.0% | | | | | |
| Bancolombia SA | | 166,816 | | | 1,151,780 |
| Germany - 0.2% | | | | | |
| Bayerische Motoren Werke AG | | 9,013 | | | 626,624 |
| Henkel AG & Company KGaA | | 29,679 | | | 1,915,301 |
| Porsche Automobil Holding SE | | 24,473 | | | 1,725,587 |
| Sartorius AG | | 3,867 | | | 1,611,097 |
| Volkswagen AG | | 29,624 | | | 4,213,709 |
| | | | | | 10,092,318 |
| South Korea - 0.2% | | | | | |
| Hyundai Motor Company | | 4,455 | | | 302,312 |
| Hyundai Motor Company, 2nd Preferred | | 7,209 | | | 500,128 |
| LG Chem, Ltd. | | 1,503 | | | 335,826 |
| LG H&H Company, Ltd. | | 398 | | | 108,473 |
| Samsung Electronics Company, Ltd. | | 163,142 | | | 6,599,447 |
| | | | | | 7,846,186 |
| TOTAL PREFERRED SECURITIES (Cost $44,920,370) | | $ | 39,982,048 |
| WARRANTS - 0.0% | | | | | |
| BTS Group Holdings PCL (Expiration Date: 11-20-26; Strike Price: THB 14.90) (A) | | 100,920 | | | 635 |
| BTS Group Holdings PCL (Expiration Date: 11-7-24; Strike Price: THB 11.90) (A) | | 50,460 | | | 332 |
| BTS Group Holdings PCL (Expiration Date: 9-5-22; Strike Price: THB 9.90) (A) | | 25,230 | | | 0 |
| Cie Financiere Richemont SA (Expiration Date: 11-22-23; Strike Price: CHF 67.00) (A) | | 72,322 | | | 46,612 |
| Minor International PCL (Expiration Date: 2-15-24; Strike Price: THB 31.00) (A) | | 5,503 | | | 542 |
| Minor International PCL (Expiration Date: 5-5-23; Strike Price: THB 28.00) (A) | | 6,072 | | | 760 |
International Strategic Equity Allocation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| WARRANTS (continued) | | | | | |
| Minor International PCL (Expiration Date: 7-31-23; Strike Price: THB 21.60) (A) | | 12,759 | | $ | 3,808 |
| Srisawad Corp. PCL (Expiration Date: 8-29-25; Strike Price: THB 100.00) (A) | | 2,652 | | | 342 |
| TOTAL WARRANTS (Cost $0) | | $ | 53,031 |
| SHORT-TERM INVESTMENTS - 4.9% | | | |
| U.S. Government - 0.2% | | | | | |
U.S. Treasury Bill
2.430%, 10/18/2022 * | $ | 8,500,000 | | | 8,472,534 |
| U.S. Government Agency - 4.0% | | | | | |
| Federal Home Loan Bank Discount Note | | | | | |
| 1.830%, 09/23/2022 * | | 800,000 | | | 798,899 |
| 2.170%, 09/06/2022 * | | 11,500,000 | | | 11,496,400 |
| 2.210%, 09/28/2022 * | | 6,900,000 | | | 6,888,343 |
| 2.250%, 09/27/2022 * | | 37,900,000 | | | 37,838,342 |
| 2.340%, 10/07/2022 * | | 97,500,000 | | | 97,248,165 |
Federal Home Loan Mortgage Corp. Discount Note
2.000%, 09/01/2022 * | | 4,300,000 | | | 4,300,000 |
| | | | | | 158,570,149 |
| Short-term funds - 0.7% | | | | | |
| John Hancock Collateral Trust, 2.3160% (E)(F) | | 2,694,050 | | | 26,922,715 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $193,990,486) | | $ | 193,965,398 |
Total Investments (International Strategic Equity Allocation Fund)
(Cost $4,465,214,134) - 100.0% | | $ | 3,962,761,918 |
| Other assets and liabilities, net - (0.0%) | | | (509,295) |
| TOTAL NET ASSETS - 100.0% | | $ | 3,962,252,623 |
| Currency Abbreviations |
| CHF | Swiss Franc |
| THB | Thai Bhat |
| Security Abbreviations and Legend |
| ADR | American Depositary Receipt |
| NVDR | Non-Voting Depositary Receipt |
| (A) | Non-income producing security. |
| (B) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. |
| (C) | All or a portion of this security is on loan as of 8-31-22. |
| (D) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements. |
| (E) | The rate shown is the annualized seven-day yield as of 8-31-22. |
| (F) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |
| * | Yield represents either the annualized yield at the date of purchase, the stated coupon rate or, for floating rate securities, the rate at period end. |
| The accompanying notes are an integral part of the financial statements. | 67 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
International Strategic Equity Allocation Fund (continued)
DERIVATIVES
FUTURES
| Open contracts | Number of
contracts | Position | Expiration
date | Notional
basis^ | Notional
value^ | Unrealized
appreciation
(depreciation) |
| Canadian Dollar Currency Futures | 266 | Long | Sep 2022 | $20,637,555 | $20,245,260 | $(392,295) |
| Mini MSCI EAFE Index Futures | 1,239 | Long | Sep 2022 | 116,849,061 | 113,157,870 | (3,691,191) |
| Mini MSCI Emerging Markets Index Futures | 1,126 | Long | Sep 2022 | 56,898,123 | 55,269,710 | (1,628,413) |
| S&P/TSX 60 Index Futures | 114 | Long | Sep 2022 | 20,639,728 | 20,224,616 | (415,112) |
| | | | | | | $(6,127,011) |
^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.
See Notes to financial statements regarding investment transactions and other derivatives information.
Mid Value Fund
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS – 93.4% | | | |
| Communication services – 5.7% | | | | | |
| Entertainment – 0.8% | | | |
| Madison Square Garden Entertainment Corp. (A) | | 93,400 | | $ | 5,189,304 |
| Madison Square Garden Sports Corp. (A) | | 32,059 | | | 5,138,096 |
| | | | | | 10,327,400 |
| Media – 4.9% | | | |
| DISH Network Corp., Class A (A) | | 321,841 | | | 5,583,941 |
| Fox Corp., Class A | | 197,778 | | | 6,760,052 |
| News Corp., Class A | | 1,733,149 | | | 29,324,881 |
| Paramount Global, Class B | | 575,806 | | | 13,468,102 |
| Scholastic Corp. | | 267,895 | | | 12,299,059 |
| | | | | | 67,436,035 |
| | | | | | 77,763,435 |
| Consumer discretionary – 5.9% | | | | | |
| Automobiles – 0.9% | | | |
| General Motors Company | | 336,700 | | | 12,865,307 |
| Diversified consumer services – 1.0% | | | |
| Bright Horizons Family Solutions, Inc. (A) | | 67,600 | | | 4,610,320 |
| Strategic Education, Inc. | | 131,863 | | | 8,531,536 |
| | | | | | 13,141,856 |
| Hotels, restaurants and leisure – 0.8% | | | |
| Compass Group PLC | | 489,708 | | | 10,534,135 |
| Household durables – 0.9% | | | |
| Mohawk Industries, Inc. (A) | | 110,467 | | | 12,191,138 |
| Specialty retail – 1.0% | | | |
| Bath & Body Works, Inc. | | 7,400 | | | 276,242 |
| Best Buy Company, Inc. | | 131,800 | | | 9,316,942 |
| Burlington Stores, Inc. (A) | | 31,500 | | | 4,415,985 |
| | | | | | 14,009,169 |
| Textiles, apparel and luxury goods – 1.3% | | | |
| adidas AG | | 3,067 | | | 454,784 |
| Ralph Lauren Corp. | | 198,853 | | | 18,161,244 |
| | | | | | 18,616,028 |
| | | | | | 81,357,633 |
| Consumer staples – 7.9% | | | | | |
| Beverages – 1.6% | | | |
| Carlsberg A/S, Class B | | 101,703 | | | 13,206,148 |
Mid Value Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| Beverages (continued) | | | |
| Monster Beverage Corp. (A) | | 104,300 | | $ | 9,264,969 |
| | | | | | 22,471,117 |
| Food and staples retailing – 1.6% | | | |
| Sysco Corp. | | 273,512 | | | 22,488,157 |
| Food products – 4.2% | | | |
| Bunge, Ltd. | | 138,778 | | | 13,762,614 |
| Campbell Soup Company | | 286,761 | | | 14,447,019 |
| Flowers Foods, Inc. | | 1,055,008 | | | 28,801,718 |
| | | | | | 57,011,351 |
| Household products – 0.5% | | | |
| Kimberly-Clark Corp. | | 55,641 | | | 7,095,340 |
| | | | | | 109,065,965 |
| Energy – 8.2% | | | | | |
| Energy equipment and services – 4.2% | | | |
| Expro Group Holdings NV (A) | | 774,337 | | | 10,469,036 |
| NOV, Inc. | | 499,402 | | | 8,824,433 |
| SEACOR Marine Holdings, Inc. (A) | | 358,073 | | | 2,327,475 |
| TechnipFMC PLC (A) | | 3,015,068 | | | 24,663,256 |
| Tidewater, Inc. (A)(B) | | 528,455 | | | 11,710,563 |
| | | | | | 57,994,763 |
| Oil, gas and consumable fuels – 4.0% | | | |
| Cameco Corp. | | 789,199 | | | 23,005,151 |
| Canadian Natural Resources, Ltd. (B) | | 120,670 | | | 6,613,923 |
| Equitrans Midstream Corp. | | 1,857,103 | | | 17,215,345 |
| Imperial Oil, Ltd. (B) | | 149,170 | | | 7,315,297 |
| | | | | | 54,149,716 |
| | | | | | 112,144,479 |
| Financials – 17.8% | | | | | |
| Banks – 5.5% | | | |
| Fifth Third Bancorp | | 773,683 | | | 26,421,274 |
| Popular, Inc. | | 171,491 | | | 13,242,535 |
| Signature Bank | | 69,218 | | | 12,068,850 |
| Webster Financial Corp. | | 319,002 | | | 15,009,044 |
| Westamerica BanCorp | | 165,347 | | | 9,251,165 |
| | | | | | 75,992,868 |
| Capital markets – 4.0% | | | |
| Lazard, Ltd., Class A | | 219,017 | | | 7,961,268 |
| Main Street Capital Corp. (B) | | 180,013 | | | 7,513,743 |
| Northern Trust Corp. | | 66,444 | | | 6,318,160 |
| Open Lending Corp., Class A (A) | | 592,200 | | | 5,750,262 |
| The accompanying notes are an integral part of the financial statements. | 68 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
Mid Value Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| Capital markets (continued) | | | |
| State Street Corp. | | 408,241 | | $ | 27,903,272 |
| | | | | | 55,446,705 |
| Diversified financial services – 1.4% | | | |
| Groupe Bruxelles Lambert SA | | 137,193 | | | 10,371,271 |
| Jackson Financial, Inc., Class A (B) | | 268,851 | | | 8,404,282 |
| | | | | | 18,775,553 |
| Insurance – 6.9% | | | |
| Brown & Brown, Inc. | | 293,134 | | | 18,479,167 |
| CNA Financial Corp. | | 333,472 | | | 12,825,333 |
| Kemper Corp. | | 299,711 | | | 13,786,706 |
| Loews Corp. | | 405,339 | | | 22,419,300 |
| Marsh & McLennan Companies, Inc. | | 47,892 | | | 7,728,332 |
| RenaissanceRe Holdings, Ltd. | | 143,766 | | | 19,445,789 |
| | | | | | 94,684,627 |
| | | | | | 244,899,753 |
| Health care – 12.7% | | | | | |
| Biotechnology – 0.7% | | | |
| Alkermes PLC (A) | | 197,669 | | | 4,678,825 |
| Galapagos NV (A) | | 92,464 | | | 4,639,499 |
| | | | | | 9,318,324 |
| Health care equipment and supplies – 4.1% | | | |
| Baxter International, Inc. | | 40,462 | | | 2,324,947 |
| Dentsply Sirona, Inc. | | 408,993 | | | 13,402,701 |
| Hologic, Inc. (A) | | 102,005 | | | 6,891,458 |
| Koninklijke Philips NV | | 819,205 | | | 13,605,354 |
| Zimmer Biomet Holdings, Inc. | | 195,586 | | | 20,794,704 |
| | | | | | 57,019,164 |
| Health care providers and services – 6.5% | | | |
| Cardinal Health, Inc. | | 380,743 | | | 26,926,145 |
| Centene Corp. (A) | | 167,935 | | | 15,070,487 |
| Fresenius SE & Company KGaA | | 262,018 | | | 6,481,876 |
| Patterson Companies, Inc. | | 425,308 | | | 11,861,840 |
| Select Medical Holdings Corp. | | 1,150,947 | | | 29,510,281 |
| | | | | | 89,850,629 |
| Life sciences tools and services – 0.7% | | | |
| Charles River Laboratories International, Inc. (A) | | 46,000 | | | 9,441,500 |
| Pharmaceuticals – 0.7% | | | |
| Elanco Animal Health, Inc. (A) | | 373,900 | | | 5,657,107 |
| Viatris, Inc. | | 372,900 | | | 3,561,195 |
| | | | | | 9,218,302 |
| | | | | | 174,847,919 |
| Industrials – 10.7% | | | | | |
| Aerospace and defense – 3.4% | | | |
| Rolls-Royce Holdings PLC (A) | | 12,160,775 | | | 10,837,906 |
| Spirit AeroSystems Holdings, Inc., Class A (B) | | 359,200 | | | 10,811,920 |
| Textron, Inc. | | 402,446 | | | 25,104,581 |
| | | | | | 46,754,407 |
| Air freight and logistics – 1.1% | | | |
| CH Robinson Worldwide, Inc. | | 130,926 | | | 14,945,203 |
| Airlines – 0.5% | | | |
| Southwest Airlines Company (A) | | 194,800 | | | 7,149,160 |
| Building products – 0.9% | | | |
| Trane Technologies PLC | | 81,700 | | | 12,587,519 |
| Electrical equipment – 0.7% | | | |
| Rockwell Automation, Inc. | | 41,100 | | | 9,738,234 |
| Machinery – 2.5% | | | |
| Alstom SA | | 85,010 | | | 1,742,130 |
| PACCAR, Inc. | | 242,987 | | | 21,263,792 |
Mid Value Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| Machinery (continued) | | | |
| Stanley Black & Decker, Inc. | | 99,400 | | $ | 8,757,140 |
| The Middleby Corp. (A) | | 23,900 | | | 3,437,298 |
| | | | | | 35,200,360 |
| Road and rail – 1.1% | | | |
| JB Hunt Transport Services, Inc. | | 85,090 | | | 14,807,362 |
| Trading companies and distributors – 0.5% | | | |
| Ashtead Group PLC | | 129,602 | | | 6,367,065 |
| | | | | | 147,549,310 |
| Information technology – 4.8% | | | | | |
| Communications equipment – 0.5% | | | |
| Arista Networks, Inc. (A) | | 59,700 | | | 7,156,836 |
| Electronic equipment, instruments and components – 1.7% | | | |
| Corning, Inc. | | 208,200 | | | 7,145,424 |
| National Instruments Corp. | | 410,601 | | | 16,325,496 |
| | | | | | 23,470,920 |
| IT services – 0.6% | | | |
| Global Payments, Inc. | | 64,700 | | | 8,037,681 |
| Semiconductors and semiconductor equipment – 0.7% | | | |
| Marvell Technology, Inc. | | 218,900 | | | 10,248,898 |
| Technology hardware, storage and peripherals – 1.3% | | | |
| Western Digital Corp. (A) | | 412,500 | | | 17,432,250 |
| | | | | | 66,346,585 |
| Materials – 8.0% | | | | | |
| Chemicals – 1.8% | | | |
| Corteva, Inc. | | 213,842 | | | 13,136,314 |
| PPG Industries, Inc. | | 39,731 | | | 5,045,042 |
| The Scotts Miracle-Gro Company | | 93,479 | | | 6,258,419 |
| | | | | | 24,439,775 |
| Construction materials – 1.8% | | | |
| Summit Materials, Inc., Class A (A) | | 568,044 | | | 16,143,810 |
| Vulcan Materials Company | | 53,501 | | | 8,907,381 |
| | | | | | 25,051,191 |
| Containers and packaging – 0.9% | | | |
| Ball Corp. | | 85,300 | | | 4,760,593 |
| Westrock Company | | 199,100 | | | 8,081,469 |
| | | | | | 12,842,062 |
| Metals and mining – 3.5% | | | |
| AngloGold Ashanti, Ltd., ADR (B) | | 703,983 | | | 9,489,691 |
| Franco-Nevada Corp. | | 139,845 | | | 16,813,131 |
| Freeport-McMoRan, Inc. | | 157,236 | | | 4,654,186 |
| Fresnillo PLC (B) | | 1,544,069 | | | 12,298,028 |
| Gold Fields, Ltd., ADR (B) | | 619,475 | | | 5,011,553 |
| | | | | | 48,266,589 |
| | | | | | 110,599,617 |
| Real estate – 6.2% | | | | | |
| Equity real estate investment trusts – 6.0% | | | |
| Apartment Investment and Management Company, Class A (A) | | 1,057,562 | | | 9,348,848 |
| Equity Commonwealth (A) | | 709,499 | | | 18,666,919 |
| Equity Residential | | 97,555 | | | 7,139,075 |
| Omega Healthcare Investors, Inc. | | 64,100 | | | 2,093,506 |
| Rayonier, Inc. | | 377,045 | | | 13,392,638 |
| Regency Centers Corp. | | 198,826 | | | 12,096,574 |
| Vornado Realty Trust | | 249,099 | | | 6,531,376 |
| Weyerhaeuser Company | | 403,217 | | | 13,773,893 |
| | | | | | 83,042,829 |
| Real estate management and development – 0.2% | | | |
| The St. Joe Company | | 73,101 | | | 2,792,458 |
| | | | | | 85,835,287 |
| The accompanying notes are an integral part of the financial statements. | 69 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
Mid Value Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| Utilities – 5.5% | | | | | |
| Electric utilities – 4.7% | | | |
| FirstEnergy Corp. | | 698,590 | | $ | 27,629,235 |
| PG&E Corp. (A) | | 2,990,119 | | | 36,868,171 |
| | | | | | 64,497,406 |
| Gas utilities – 0.3% | | | |
| National Fuel Gas Company | | 46,735 | | | 3,330,803 |
| Multi-utilities – 0.5% | | | |
| CenterPoint Energy, Inc. | | 236,143 | | | 7,445,589 |
| | | | | | 75,273,798 |
| TOTAL COMMON STOCKS (Cost $1,062,861,679) | | $ | 1,285,683,781 |
| SHORT-TERM INVESTMENTS – 8.1% | | | |
| Short-term funds – 8.1% | | | | | |
| John Hancock Collateral Trust, 2.3160% (C)(D) | | 2,210,962 | | | 22,095,028 |
| State Street Institutional U.S. Government Money Market Fund, Premier Class, 2.2409% (C) | | 1,983,324 | | | 1,983,324 |
| T. Rowe Price Government Reserve Fund, 2.3595% (C) | | 87,715,543 | | | 87,715,543 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $111,794,157) | | $ | 111,793,895 |
Total Investments (Mid Value Fund)
(Cost $1,174,655,836) – 101.5% | | $ | 1,397,477,676 |
| Other assets and liabilities, net – (1.5%) | | | (20,888,577) |
| TOTAL NET ASSETS – 100.0% | | $ | 1,376,589,099 |
| 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 8-31-22. |
| (C) | The rate shown is the annualized seven-day yield as of 8-31-22. |
| (D) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |
Science & Technology Fund
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS – 94.6% | | | |
| Communication services – 16.6% | | | | | |
| Entertainment – 2.0% | | | |
| CTS Eventim AG & Company KGaA (A) | | 20,698 | | $ | 1,112,801 |
| ROBLOX Corp., Class A (A) | | 48,370 | | | 1,891,751 |
| | | | | | 3,004,552 |
| Interactive media and services – 14.6% | | | |
| Alphabet, Inc., Class A (A) | | 72,134 | | | 7,806,341 |
| Baidu, Inc., ADR (A) | | 28,375 | | | 4,085,149 |
| Kanzhun, Ltd., ADR (A) | | 27,326 | | | 641,888 |
| Meta Platforms, Inc., Class A (A) | | 49,475 | | | 8,060,962 |
| Pinterest, Inc., Class A (A) | | 83,797 | | | 1,930,683 |
| VK Company, Ltd., GDR (A)(B) | | 159,991 | | | 50,237 |
| | | | | | 22,575,260 |
| | | | | | 25,579,812 |
| Consumer discretionary – 30.5% | | | | | |
| Automobiles – 0.4% | | | |
| Rivian Automotive, Inc., Class A (A)(C) | | 16,782 | | | 548,939 |
| Hotels, restaurants and leisure – 5.1% | | | |
| Booking Holdings, Inc. (A) | | 472 | | | 885,382 |
| Tongcheng Travel Holdings, Ltd. (A) | | 558,000 | | | 1,142,873 |
Science & Technology Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| Hotels, restaurants and leisure (continued) | | | |
| Trip.com Group, Ltd., ADR (A) | | 229,357 | | $ | 5,899,062 |
| | | | | | 7,927,317 |
| Internet and direct marketing retail – 23.8% | | | |
| Alibaba Group Holding, Ltd., ADR (A) | | 60,807 | | | 5,801,596 |
| Amazon.com, Inc. (A) | | 70,330 | | | 8,915,734 |
| Boohoo Group PLC (A) | | 1,026,842 | | | 496,959 |
| Coupang, Inc. (A) | | 121,671 | | | 2,056,240 |
| Deliveroo PLC (A)(D) | | 877,244 | | | 822,416 |
| Delivery Hero SE (A)(D) | | 107,121 | | | 4,445,651 |
| D-Market Elektronik Hizmetler ve Ticaret AS, ADR (A)(C) | | 114,379 | | | 115,523 |
| DoorDash, Inc., Class A (A) | | 13,284 | | | 795,712 |
| Etsy, Inc. (A) | | 25,894 | | | 2,734,665 |
| MercadoLibre, Inc. (A) | | 2,207 | | | 1,887,780 |
| Naspers, Ltd., N Shares | | 20,838 | | | 2,938,292 |
| Wayfair, Inc., Class A (A)(C) | | 10,838 | | | 571,271 |
| Zalando SE (A)(C)(D) | | 221,520 | | | 5,128,819 |
| | | | | | 36,710,658 |
| Specialty retail – 1.2% | | | |
| Auto1 Group SE (A)(D) | | 110,678 | | | 1,159,396 |
| Warby Parker, Inc., Class A (A)(C) | | 55,476 | | | 697,333 |
| | | | | | 1,856,729 |
| | | | | | 47,043,643 |
| Health care – 0.5% | | | | | |
| Health care technology – 0.5% | | | |
| Veeva Systems, Inc., Class A (A) | | 3,940 | | | 785,321 |
| Information technology – 46.2% | | | | | |
| Communications equipment – 1.0% | | | |
| Arista Networks, Inc. (A) | | 12,676 | | | 1,519,599 |
| IT services – 3.9% | | | |
| Accenture PLC, Class A | | 19,306 | | | 5,569,009 |
| MongoDB, Inc. (A) | | 1,493 | | | 482,030 |
| | | | | | 6,051,039 |
| Semiconductors and semiconductor equipment – 14.3% | | | |
| Advanced Micro Devices, Inc. (A) | | 52,023 | | | 4,415,192 |
| Applied Materials, Inc. | | 14,284 | | | 1,343,696 |
| Lam Research Corp. | | 4,269 | | | 1,869,438 |
| Micron Technology, Inc. | | 36,758 | | | 2,077,930 |
| NVIDIA Corp. | | 45,240 | | | 6,828,526 |
| Qualcomm, Inc. | | 33,663 | | | 4,452,605 |
| Taiwan Semiconductor Manufacturing Company, Ltd. | | 66,000 | | | 1,080,406 |
| | | | | | 22,067,793 |
| Software – 22.6% | | | |
| ForgeRock, Inc., Class A (A) | | 2,868 | | | 48,928 |
| Fortinet, Inc. (A) | | 58,933 | | | 2,869,448 |
| HubSpot, Inc. (A) | | 4,855 | | | 1,636,329 |
| Intuit, Inc. | | 5,863 | | | 2,531,526 |
| Microsoft Corp. | | 43,205 | | | 11,296,810 |
| NortonLifeLock, Inc. | | 5,106 | | | 115,632 |
| Qualtrics International, Inc., Class A (A) | | 86,178 | | | 1,055,681 |
| salesforce.com, Inc. (A) | | 52,437 | | | 8,186,464 |
| TeamViewer AG (A)(D) | | 100,954 | | | 1,010,244 |
| Workday, Inc., Class A (A) | | 17,640 | | | 2,902,838 |
| Zoom Video Communications, Inc., Class A (A) | | 39,888 | | | 3,206,995 |
| | | | | | 34,860,895 |
| Technology hardware, storage and peripherals – 4.4% | | | |
| Pure Storage, Inc., Class A (A) | | 189,372 | | | 5,486,107 |
| The accompanying notes are an integral part of the financial statements. | 70 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
Science & Technology Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| Technology hardware, storage and peripherals (continued) | | | |
| Samsung Electronics Company, Ltd. | | 28,667 | | $ | 1,269,969 |
| | | | | | 6,756,076 |
| | | | | | 71,255,402 |
| Real estate – 0.8% | | | | | |
| Real estate management and development – 0.8% | | | |
| KE Holdings, Inc., ADR (A) | | 40,886 | | | 737,583 |
| Opendoor Technologies, Inc. (A) | | 89,227 | | | 386,353 |
| | | | | | 1,123,936 |
| TOTAL COMMON STOCKS (Cost $156,674,754) | | $ | 145,788,114 |
| SHORT-TERM INVESTMENTS – 6.4% | | | |
| Short-term funds – 6.4% | | | | | |
| John Hancock Collateral Trust, 2.3160% (E)(F) | | 123,009 | | | 1,229,283 |
| State Street Institutional U.S. Government Money Market Fund, Premier Class, 2.2409% (E) | | 1,588,692 | | | 1,588,692 |
| T. Rowe Price Government Reserve Fund, 2.3595% (E) | | 7,085,910 | | | 7,085,910 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $9,903,890) | | $ | 9,903,885 |
Total Investments (Science & Technology Fund)
(Cost $166,578,644) – 101.0% | | $ | 155,691,999 |
| Other assets and liabilities, net – (1.0%) | | | (1,542,565) |
| TOTAL NET ASSETS – 100.0% | | $ | 154,149,434 |
| Security Abbreviations and Legend |
| ADR | American Depositary Receipt |
| GDR | Global Depositary Receipt |
| (A) | Non-income producing security. |
| (B) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements. |
| (C) | All or a portion of this security is on loan as of 8-31-22. |
| (D) | These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. |
| (E) | The rate shown is the annualized seven-day yield as of 8-31-22. |
| (F) | Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending. |
U.S. Sector Rotation Fund
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS – 95.3% | | | |
| Communication services – 6.9% | | | | | |
| Diversified telecommunication services – 0.8% | | | |
| AT&T, Inc. | | 797,941 | | $ | 13,995,885 |
| Lumen Technologies, Inc. (A) | | 107,559 | | | 1,071,288 |
| Verizon Communications, Inc. | | 472,789 | | | 19,767,308 |
| | | | | | 34,834,481 |
| Entertainment – 1.2% | | | |
| Activision Blizzard, Inc. | | 85,890 | | | 6,741,506 |
| Electronic Arts, Inc. | | 31,226 | | | 3,961,643 |
| Live Nation Entertainment, Inc. (B) | | 16,348 | | | 1,477,205 |
| Netflix, Inc. (B) | | 48,731 | | | 10,894,302 |
| Take-Two Interactive Software, Inc. (B) | | 17,660 | | | 2,164,410 |
| The Walt Disney Company (B) | | 200,641 | | | 22,487,843 |
U.S. Sector Rotation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| Entertainment (continued) | | | |
| Warner Brothers Discovery, Inc. (B) | | 228,085 | | $ | 3,019,845 |
| | | | | | 50,746,754 |
| Interactive media and services – 3.8% | | | |
| Alphabet, Inc., Class A (B) | | 603,858 | | | 65,349,513 |
| Alphabet, Inc., Class C (B) | | 555,450 | | | 60,627,368 |
| Match Group, Inc. (B) | | 29,674 | | | 1,677,471 |
| Meta Platforms, Inc., Class A (B) | | 231,403 | | | 37,702,491 |
| Twitter, Inc. (B) | | 76,398 | | | 2,960,423 |
| | | | | | 168,317,266 |
| Media – 0.9% | | | |
| Charter Communications, Inc., Class A (B) | | 16,558 | | | 6,832,328 |
| Comcast Corp., Class A | | 656,828 | | | 23,770,605 |
| DISH Network Corp., Class A (B) | | 28,594 | | | 496,106 |
| Fox Corp., Class A | | 44,121 | | | 1,508,056 |
| Fox Corp., Class B | | 15,876 | | | 501,999 |
| News Corp., Class A | | 58,038 | | | 982,003 |
| News Corp., Class B | | 28,446 | | | 490,409 |
| Omnicom Group, Inc. | | 29,426 | | | 1,968,599 |
| Paramount Global, Class B | | 80,895 | | | 1,892,134 |
| The Interpublic Group of Companies, Inc. | | 52,933 | | | 1,463,068 |
| | | | | | 39,905,307 |
| Wireless telecommunication services – 0.2% | | | |
| T-Mobile US, Inc. (B) | | 67,441 | | | 9,708,806 |
| | | | | | 303,512,614 |
| Consumer discretionary – 10.7% | | | | | |
| Auto components – 0.1% | | | |
| Aptiv PLC (B) | | 31,256 | | | 2,920,248 |
| BorgWarner, Inc. | | 33,357 | | | 1,257,559 |
| | | | | | 4,177,807 |
| Automobiles – 2.3% | | | |
| Ford Motor Company | | 493,135 | | | 7,515,377 |
| General Motors Company | | 182,948 | | | 6,990,443 |
| Tesla, Inc. (B) | | 310,675 | | | 85,625,137 |
| | | | | | 100,130,957 |
| Distributors – 0.1% | | | |
| Genuine Parts Company | | 14,854 | | | 2,317,373 |
| LKQ Corp. | | 28,690 | | | 1,526,882 |
| Pool Corp. | | 4,391 | | | 1,489,383 |
| | | | | | 5,333,638 |
| Hotels, restaurants and leisure – 1.8% | | | |
| Booking Holdings, Inc. (B) | | 5,074 | | | 9,517,860 |
| Caesars Entertainment, Inc. (B) | | 28,540 | | | 1,230,645 |
| Carnival Corp. (B) | | 126,840 | | | 1,199,906 |
| Chipotle Mexican Grill, Inc. (B) | | 3,366 | | | 5,374,829 |
| Darden Restaurants, Inc. | | 16,866 | | | 2,086,493 |
| Domino's Pizza, Inc. | | 4,320 | | | 1,606,435 |
| Expedia Group, Inc. (B) | | 20,382 | | | 2,092,212 |
| Hilton Worldwide Holdings, Inc. | | 35,372 | | | 4,504,978 |
| Las Vegas Sands Corp. (B) | | 44,454 | | | 1,672,804 |
| Marriott International, Inc., Class A | | 34,974 | | | 5,376,903 |
| McDonald's Corp. | | 91,871 | | | 23,177,216 |
| MGM Resorts International | | 37,660 | | | 1,229,222 |
| Norwegian Cruise Line Holdings, Ltd. (B) | | 61,448 | | | 803,740 |
| Penn Entertainment, Inc. (B) | | 26,199 | | | 818,195 |
| Royal Caribbean Cruises, Ltd. (B) | | 29,896 | | | 1,221,252 |
| Starbucks Corp. | | 140,414 | | | 11,804,605 |
| Wynn Resorts, Ltd. (B) | | 13,525 | | | 819,480 |
| Yum! Brands, Inc. | | 33,824 | | | 3,762,582 |
| | | | | | 78,299,357 |
| Household durables – 0.3% | | | |
| D.R. Horton, Inc. | | 37,245 | | | 2,649,982 |
| Garmin, Ltd. | | 16,945 | | | 1,499,463 |
| The accompanying notes are an integral part of the financial statements. | 71 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
U.S. Sector Rotation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| Household durables (continued) | | | |
| Hamilton Beach Brands Holding Company, Class B | | 294 | | $ | 3,631 |
| Lennar Corp., A Shares | | 28,936 | | | 2,241,093 |
| Mohawk Industries, Inc. (B) | | 7,073 | | | 780,576 |
| Newell Brands, Inc. | | 39,608 | | | 707,003 |
| NVR, Inc. (B) | | 367 | | | 1,519,402 |
| PulteGroup, Inc. | | 28,319 | | | 1,151,451 |
| Whirlpool Corp. | | 7,294 | | | 1,142,240 |
| | | | | | 11,694,841 |
| Internet and direct marketing retail – 3.3% | | | |
| Amazon.com, Inc. (B) | | 1,111,400 | | | 140,892,178 |
| eBay, Inc. | | 68,188 | | | 3,009,136 |
| Etsy, Inc. (B) | | 16,644 | | | 1,757,773 |
| | | | | | 145,659,087 |
| Leisure products – 0.0% | | | |
| Hasbro, Inc. | | 14,447 | | | 1,138,713 |
| Multiline retail – 0.5% | | | |
| Dollar General Corp. | | 29,335 | | | 6,964,716 |
| Dollar Tree, Inc. (B) | | 28,114 | | | 3,814,508 |
| Target Corp. | | 59,345 | | | 9,515,377 |
| | | | | | 20,294,601 |
| Specialty retail – 1.9% | | | |
| Advance Auto Parts, Inc. | | 7,162 | | | 1,207,800 |
| AutoZone, Inc. (B) | | 2,491 | | | 5,278,952 |
| Bath & Body Works, Inc. | | 33,755 | | | 1,260,074 |
| Best Buy Company, Inc. | | 22,356 | | | 1,580,346 |
| CarMax, Inc. (B) | | 18,418 | | | 1,628,888 |
| Lowe's Companies, Inc. | | 80,413 | | | 15,611,380 |
| O'Reilly Automotive, Inc. (B) | | 7,710 | | | 5,374,795 |
| Ross Stores, Inc. | | 42,743 | | | 3,687,439 |
| The Home Depot, Inc. | | 125,118 | | | 36,086,534 |
| The TJX Companies, Inc. | | 144,971 | | | 9,038,942 |
| Tractor Supply Company | | 13,014 | | | 2,409,542 |
| Ulta Beauty, Inc. (B) | | 6,043 | | | 2,537,274 |
| | | | | | 85,701,966 |
| Textiles, apparel and luxury goods – 0.4% | | | |
| NIKE, Inc., Class B | | 143,109 | | | 15,233,953 |
| PVH Corp. | | 6,050 | | | 340,313 |
| Ralph Lauren Corp. | | 4,117 | | | 376,006 |
| Tapestry, Inc. | | 32,875 | | | 1,141,749 |
| VF Corp. | | 37,647 | | | 1,560,468 |
| | | | | | 18,652,489 |
| | | | | | 471,083,456 |
| Consumer staples – 9.5% | | | | | |
| Beverages – 3.2% | | | |
| Brown-Forman Corp., Class B | | 41,588 | | | 3,023,448 |
| Constellation Brands, Inc., Class A | | 37,518 | | | 9,231,304 |
| Keurig Dr. Pepper, Inc. | | 163,146 | | | 6,219,126 |
| Molson Coors Beverage Company, Class B | | 43,860 | | | 2,266,246 |
| Monster Beverage Corp. (B) | | 88,343 | | | 7,847,509 |
| PepsiCo, Inc. | | 319,458 | | | 55,033,030 |
| The Coca-Cola Company | | 898,518 | | | 55,447,546 |
| | | | | | 139,068,209 |
| Food and staples retailing – 2.0% | | | |
| Costco Wholesale Corp. | | 76,043 | | | 39,702,050 |
| Sysco Corp. | | 84,100 | | | 6,914,702 |
| The Kroger Company | | 109,030 | | | 5,226,898 |
| Walgreens Boots Alliance, Inc. | | 130,245 | | | 4,566,390 |
| Walmart, Inc. | | 240,499 | | | 31,878,142 |
| | | | | | 88,288,182 |
| Food products – 1.9% | | | |
| Archer-Daniels-Midland Company | | 131,908 | | | 11,593,394 |
U.S. Sector Rotation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| Food products (continued) | | | |
| Campbell Soup Company | | 46,611 | | $ | 2,348,262 |
| Conagra Brands, Inc. | | 112,801 | | | 3,878,098 |
| General Mills, Inc. | | 134,152 | | | 10,302,874 |
| Hormel Foods Corp. | | 61,674 | | | 3,100,969 |
| Kellogg Company | | 53,322 | | | 3,878,642 |
| Lamb Weston Holdings, Inc. | | 29,270 | | | 2,327,843 |
| McCormick & Company, Inc. | | 54,567 | | | 4,587,448 |
| Mondelez International, Inc., Class A | | 313,876 | | | 19,416,369 |
| The Hershey Company | | 34,442 | | | 7,738,084 |
| The J.M. Smucker Company | | 22,249 | | | 3,114,638 |
| The Kraft Heinz Company | | 165,327 | | | 6,183,230 |
| Tyson Foods, Inc., Class A | | 70,401 | | | 5,306,827 |
| | | | | | 83,776,678 |
| Household products – 1.1% | | | |
| Church & Dwight Company, Inc. | | 24,235 | | | 2,028,712 |
| Colgate-Palmolive Company | | 82,643 | | | 6,463,509 |
| Kimberly-Clark Corp. | | 34,581 | | | 4,409,769 |
| The Clorox Company | | 11,902 | | | 1,717,935 |
| The Procter & Gamble Company | | 242,139 | | | 33,400,654 |
| | | | | | 48,020,579 |
| Personal products – 0.1% | | | |
| The Estee Lauder Companies, Inc., Class A | | 23,682 | | | 6,024,227 |
| Tobacco – 1.2% | | | |
| Altria Group, Inc. | | 411,982 | | | 18,588,628 |
| Philip Morris International, Inc. | | 358,915 | | | 34,272,793 |
| | | | | | 52,861,421 |
| | | | | | 418,039,296 |
| Energy – 4.4% | | | | | |
| Energy equipment and services – 0.3% | | | |
| Baker Hughes Company | | 115,209 | | | 2,910,179 |
| Halliburton Company | | 110,625 | | | 3,333,131 |
| Schlumberger NV | | 174,553 | | | 6,659,197 |
| | | | | | 12,902,507 |
| Oil, gas and consumable fuels – 4.1% | | | |
| APA Corp. | | 42,812 | | | 1,674,377 |
| Chevron Corp. | | 247,387 | | | 39,101,989 |
| ConocoPhillips | | 161,099 | | | 17,632,286 |
| Coterra Energy, Inc. | | 97,519 | | | 3,014,312 |
| Devon Energy Corp. | | 76,827 | | | 5,425,523 |
| Diamondback Energy, Inc. | | 22,477 | | | 2,995,735 |
| EOG Resources, Inc. | | 72,499 | | | 8,794,129 |
| Exxon Mobil Corp. | | 531,695 | | | 50,824,725 |
| Hess Corp. | | 34,515 | | | 4,168,722 |
| Kinder Morgan, Inc. | | 249,105 | | | 4,563,604 |
| Marathon Oil Corp. | | 82,198 | | | 2,103,447 |
| Marathon Petroleum Corp. | | 70,069 | | | 7,059,452 |
| Occidental Petroleum Corp. | | 111,095 | | | 7,887,745 |
| ONEOK, Inc. | | 53,059 | | | 3,248,803 |
| Phillips 66 | | 60,650 | | | 5,425,749 |
| Pioneer Natural Resources Company | | 28,405 | | | 7,192,714 |
| The Williams Companies, Inc. | | 147,319 | | | 5,013,266 |
| Valero Energy Corp. | | 52,928 | | | 6,198,927 |
| | | | | | 182,325,505 |
| | | | | | 195,228,012 |
| Financials – 10.9% | | | | | |
| Banks – 3.3% | | | |
| Bank of America Corp. | | 838,438 | | | 28,179,901 |
| Citigroup, Inc. | | 226,035 | | | 11,032,768 |
| Citizens Financial Group, Inc. | | 53,927 | | | 1,978,042 |
| Comerica, Inc. | | 14,734 | | | 1,183,140 |
| Fifth Third Bancorp | | 80,487 | | | 2,748,631 |
| The accompanying notes are an integral part of the financial statements. | 72 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
U.S. Sector Rotation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| Banks (continued) | | | |
| First Republic Bank | | 20,656 | | $ | 3,136,200 |
| Huntington Bancshares, Inc. | | 176,772 | | | 2,368,745 |
| JPMorgan Chase & Co. | | 343,440 | | | 39,059,431 |
| KeyCorp | | 109,021 | | | 1,928,581 |
| M&T Bank Corp. | | 21,838 | | | 3,969,712 |
| Regions Financial Corp. | | 109,748 | | | 2,378,239 |
| Signature Bank | | 6,656 | | | 1,160,540 |
| SVB Financial Group (B) | | 6,852 | | | 2,785,475 |
| The PNC Financial Services Group, Inc. | | 49,554 | | | 7,829,532 |
| Truist Financial Corp. | | 158,444 | | | 7,421,517 |
| U.S. Bancorp | | 155,592 | | | 7,096,551 |
| Wells Fargo & Company | | 447,831 | | | 19,574,693 |
| Zions Bancorp NA | | 14,240 | | | 783,627 |
| | | | | | 144,615,325 |
| Capital markets – 2.8% | | | |
| Ameriprise Financial, Inc. | | 13,900 | | | 3,725,339 |
| BlackRock, Inc. | | 17,571 | | | 11,709,139 |
| Cboe Global Markets, Inc. | | 14,109 | | | 1,664,439 |
| CME Group, Inc. | | 45,400 | | | 8,880,694 |
| FactSet Research Systems, Inc. | | 4,768 | | | 2,066,165 |
| Franklin Resources, Inc. | | 32,047 | | | 835,465 |
| Intercontinental Exchange, Inc. | | 69,663 | | | 7,025,514 |
| Invesco, Ltd. | | 49,183 | | | 810,044 |
| MarketAxess Holdings, Inc. | | 5,199 | | | 1,292,419 |
| Moody's Corp. | | 20,289 | | | 5,772,626 |
| Morgan Stanley | | 176,033 | | | 15,001,532 |
| MSCI, Inc. | | 10,230 | | | 4,595,725 |
| Nasdaq, Inc. | | 41,967 | | | 2,498,296 |
| Northern Trust Corp. | | 26,697 | | | 2,538,618 |
| Raymond James Financial, Inc. | | 23,852 | | | 2,489,433 |
| S&P Global, Inc. | | 43,141 | | | 15,193,397 |
| State Street Corp. | | 42,983 | | | 2,937,888 |
| T. Rowe Price Group, Inc. | | 28,375 | | | 3,405,000 |
| The Bank of New York Mellon Corp. | | 90,962 | | | 3,777,652 |
| The Charles Schwab Corp. | | 188,951 | | | 13,406,073 |
| The Goldman Sachs Group, Inc. | | 42,903 | | | 14,272,541 |
| | | | | | 123,897,999 |
| Consumer finance – 0.5% | | | |
| American Express Company | | 75,556 | | | 11,484,512 |
| Capital One Financial Corp. | | 50,249 | | | 5,317,349 |
| Discover Financial Services | | 33,066 | | | 3,322,802 |
| Synchrony Financial | | 63,074 | | | 2,065,674 |
| | | | | | 22,190,337 |
| Diversified financial services – 1.4% | | | |
| Berkshire Hathaway, Inc., Class B (B) | | 223,986 | | | 62,895,269 |
| Insurance – 2.9% | | | |
| Aflac, Inc. | | 111,319 | | | 6,614,575 |
| American International Group, Inc. | | 139,472 | | | 7,217,676 |
| Aon PLC, Class A | | 38,787 | | | 10,831,658 |
| Arthur J. Gallagher & Company | | 39,382 | | | 7,150,590 |
| Assurant, Inc. | | 11,439 | | | 1,812,967 |
| Brown & Brown, Inc. | | 37,855 | | | 2,386,379 |
| Chubb, Ltd. | | 76,399 | | | 14,443,231 |
| Cincinnati Financial Corp. | | 24,437 | | | 2,369,412 |
| Everest Re Group, Ltd. | | 6,771 | | | 1,821,738 |
| Globe Life, Inc. | | 18,712 | | | 1,818,619 |
| Lincoln National Corp. | | 25,899 | | | 1,192,908 |
| Loews Corp. | | 32,536 | | | 1,799,566 |
| Marsh & McLennan Companies, Inc. | | 89,082 | | | 14,375,162 |
| MetLife, Inc. | | 121,925 | | | 7,843,435 |
| Principal Financial Group, Inc. | | 40,203 | | | 3,005,576 |
| Prudential Financial, Inc. | | 68,778 | | | 6,585,494 |
| The Allstate Corp. | | 49,260 | | | 5,935,830 |
U.S. Sector Rotation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| Insurance (continued) | | | |
| The Hartford Financial Services Group, Inc. | | 55,829 | | $ | 3,590,363 |
| The Progressive Corp. | | 103,355 | | | 12,676,491 |
| The Travelers Companies, Inc. | | 44,306 | | | 7,161,622 |
| W.R. Berkley Corp. | | 37,030 | | | 2,399,544 |
| Willis Towers Watson PLC | | 20,750 | | | 4,291,723 |
| | | | | | 127,324,559 |
| | | | | | 480,923,489 |
| Health care – 12.3% | | | | | |
| Biotechnology – 1.4% | | | |
| AbbVie, Inc. | | 157,814 | | | 21,219,670 |
| Amgen, Inc. | | 48,540 | | | 11,664,162 |
| Biogen, Inc. (B) | | 13,931 | | | 2,721,839 |
| Gilead Sciences, Inc. | | 113,358 | | | 7,194,832 |
| Incyte Corp. (B) | | 17,202 | | | 1,211,537 |
| Moderna, Inc. (B) | | 31,482 | | | 4,164,124 |
| Regeneron Pharmaceuticals, Inc. (B) | | 9,797 | | | 5,692,645 |
| Vertex Pharmaceuticals, Inc. (B) | | 22,917 | | | 6,457,094 |
| | | | | | 60,325,903 |
| Health care equipment and supplies – 2.4% | | | |
| Abbott Laboratories | | 210,812 | | | 21,639,852 |
| ABIOMED, Inc. (B) | | 4,801 | | | 1,244,803 |
| Align Technology, Inc. (B) | | 8,182 | | | 1,993,953 |
| Baxter International, Inc. | | 57,808 | | | 3,321,648 |
| Becton, Dickinson and Company | | 34,191 | | | 8,630,492 |
| Boston Scientific Corp. (B) | | 173,319 | | | 6,986,489 |
| Dentsply Sirona, Inc. | | 24,582 | | | 805,552 |
| DexCom, Inc. (B) | | 48,894 | | | 4,019,576 |
| Edwards Lifesciences Corp. (B) | | 76,972 | | | 6,935,177 |
| Hologic, Inc. (B) | | 30,506 | | | 2,060,985 |
| IDEXX Laboratories, Inc. (B) | | 10,626 | | | 3,693,810 |
| Intuitive Surgical, Inc. (B) | | 43,055 | | | 8,858,136 |
| Medtronic PLC | | 161,678 | | | 14,214,730 |
| ResMed, Inc. | | 16,812 | | | 3,697,295 |
| STERIS PLC | | 12,332 | | | 2,483,418 |
| Stryker Corp. | | 39,914 | | | 8,190,353 |
| Teleflex, Inc. | | 5,529 | | | 1,250,992 |
| The Cooper Companies, Inc. | | 5,572 | | | 1,601,616 |
| Zimmer Biomet Holdings, Inc. | | 26,898 | | | 2,859,795 |
| | | | | | 104,488,672 |
| Health care providers and services – 3.1% | | | |
| AmerisourceBergen Corp. | | 16,955 | | | 2,484,925 |
| Cardinal Health, Inc. | | 30,555 | | | 2,160,850 |
| Centene Corp. (B) | | 68,898 | | | 6,182,907 |
| Cigna Corp. | | 37,705 | | | 10,687,482 |
| CVS Health Corp. | | 156,888 | | | 15,398,557 |
| DaVita, Inc. (B) | | 9,319 | | | 794,818 |
| Elevance Health, Inc. | | 29,051 | | | 14,092,931 |
| HCA Healthcare, Inc. | | 28,215 | | | 5,582,902 |
| Henry Schein, Inc. (B) | | 16,886 | | | 1,239,601 |
| Humana, Inc. | | 15,278 | | | 7,360,635 |
| Laboratory Corp. of America Holdings | | 10,816 | | | 2,436,520 |
| McKesson Corp. | | 17,368 | | | 6,374,056 |
| Molina Healthcare, Inc. (B) | | 7,322 | | | 2,470,223 |
| Quest Diagnostics, Inc. | | 13,001 | | | 1,629,155 |
| UnitedHealth Group, Inc. | | 113,181 | | | 58,778,289 |
| Universal Health Services, Inc., Class B | | 8,143 | | | 796,711 |
| | | | | | 138,470,562 |
| Life sciences tools and services – 1.6% | | | |
| Agilent Technologies, Inc. | | 34,571 | | | 4,433,731 |
| Bio-Rad Laboratories, Inc., Class A (B) | | 2,472 | | | 1,199,019 |
| Bio-Techne Corp. | | 4,820 | | | 1,599,324 |
| The accompanying notes are an integral part of the financial statements. | 73 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
U.S. Sector Rotation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| Life sciences tools and services (continued) | | | |
| Charles River Laboratories International, Inc. (B) | | 5,978 | | $ | 1,226,985 |
| Danaher Corp. | | 77,168 | | | 20,828,415 |
| Illumina, Inc. (B) | | 17,887 | | | 3,606,735 |
| IQVIA Holdings, Inc. (B) | | 22,297 | | | 4,741,680 |
| Mettler-Toledo International, Inc. (B) | | 2,608 | | | 3,162,096 |
| PerkinElmer, Inc. | | 14,835 | | | 2,003,615 |
| Thermo Fisher Scientific, Inc. | | 47,064 | | | 25,664,940 |
| Waters Corp. (B) | | 6,784 | | | 2,025,702 |
| West Pharmaceutical Services, Inc. | | 9,406 | | | 2,790,666 |
| | | | | | 73,282,908 |
| Pharmaceuticals – 3.8% | | | |
| Bristol-Myers Squibb Company | | 256,864 | | | 17,315,202 |
| Catalent, Inc. (B) | | 20,842 | | | 1,834,096 |
| Eli Lilly & Company | | 96,141 | | | 28,960,553 |
| Johnson & Johnson | | 318,773 | | | 51,430,836 |
| Merck & Company, Inc. | | 307,294 | | | 26,230,616 |
| Organon & Company | | 27,993 | | | 798,640 |
| Pfizer, Inc. | | 683,482 | | | 30,913,891 |
| Viatris, Inc. | | 168,258 | | | 1,606,864 |
| Zoetis, Inc. | | 57,183 | | | 8,950,855 |
| | | | | | 168,041,553 |
| | | | | | 544,609,598 |
| Industrials – 8.5% | | | | | |
| Aerospace and defense – 1.8% | | | |
| General Dynamics Corp. | | 32,952 | | | 7,543,701 |
| Howmet Aerospace, Inc. | | 52,265 | | | 1,851,749 |
| Huntington Ingalls Industries, Inc. | | 6,084 | | | 1,400,902 |
| L3Harris Technologies, Inc. | | 26,606 | | | 6,071,223 |
| Lockheed Martin Corp. | | 33,333 | | | 14,003,527 |
| Northrop Grumman Corp. | | 20,736 | | | 9,911,601 |
| Raytheon Technologies Corp. | | 210,008 | | | 18,848,218 |
| Textron, Inc. | | 29,652 | | | 1,849,692 |
| The Boeing Company (B) | | 78,609 | | | 12,597,092 |
| TransDigm Group, Inc. | | 7,591 | | | 4,557,560 |
| | | | | | 78,635,265 |
| Air freight and logistics – 0.8% | | | |
| CH Robinson Worldwide, Inc. | | 19,758 | | | 2,255,376 |
| Expeditors International of Washington, Inc. | | 27,146 | | | 2,793,052 |
| FedEx Corp. | | 39,163 | | | 8,255,952 |
| United Parcel Service, Inc., Class B | | 123,121 | | | 23,948,266 |
| | | | | | 37,252,646 |
| Airlines – 0.3% | | | |
| Alaska Air Group, Inc. (B) | | 25,378 | | | 1,105,466 |
| American Airlines Group, Inc. (A)(B) | | 124,357 | | | 1,615,397 |
| Delta Air Lines, Inc. (B) | | 104,576 | | | 3,249,176 |
| Southwest Airlines Company (B) | | 106,242 | | | 3,899,081 |
| United Airlines Holdings, Inc. (B) | | 46,724 | | | 1,635,807 |
| | | | | | 11,504,927 |
| Building products – 0.4% | | | |
| A.O. Smith Corp. | | 15,238 | | | 860,185 |
| Allegion PLC | | 13,675 | | | 1,300,493 |
| Carrier Global Corp. | | 110,634 | | | 4,328,002 |
| Fortune Brands Home & Security, Inc. | | 14,147 | | | 869,050 |
| Johnson Controls International PLC | | 89,675 | | | 4,855,005 |
| Masco Corp. | | 34,908 | | | 1,775,770 |
| Trane Technologies PLC | | 31,478 | | | 4,849,815 |
| | | | | | 18,838,320 |
| Commercial services and supplies – 0.7% | | | |
| Cintas Corp. | | 17,635 | | | 7,174,623 |
| Copart, Inc. (B) | | 44,022 | | | 5,267,232 |
U.S. Sector Rotation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| Commercial services and supplies (continued) | | | |
| Republic Services, Inc. | | 41,888 | | $ | 5,978,255 |
| Rollins, Inc. | | 39,058 | | | 1,318,598 |
| Waste Management, Inc. | | 74,597 | | | 12,609,131 |
| | | | | | 32,347,839 |
| Construction and engineering – 0.1% | | | |
| Quanta Services, Inc. | | 30,977 | | | 4,377,050 |
| Electrical equipment – 0.5% | | | |
| AMETEK, Inc. | | 27,518 | | | 3,306,563 |
| Eaton Corp. PLC | | 47,851 | | | 6,538,361 |
| Emerson Electric Company | | 74,756 | | | 6,110,555 |
| Generac Holdings, Inc. (B) | | 7,185 | | | 1,583,646 |
| Rockwell Automation, Inc. | | 14,249 | | | 3,376,158 |
| | | | | | 20,915,283 |
| Industrial conglomerates – 0.7% | | | |
| 3M Company | | 64,255 | | | 7,990,109 |
| General Electric Company | | 125,990 | | | 9,252,706 |
| Honeywell International, Inc. | | 77,775 | | | 14,726,696 |
| | | | | | 31,969,511 |
| Machinery – 1.4% | | | |
| Caterpillar, Inc. | | 63,596 | | | 11,746,817 |
| Cummins, Inc. | | 16,457 | | | 3,544,344 |
| Deere & Company | | 33,244 | | | 12,142,371 |
| Dover Corp. | | 15,893 | | | 1,985,989 |
| Fortive Corp. | | 43,990 | | | 2,785,887 |
| IDEX Corp. | | 9,901 | | | 1,992,180 |
| Illinois Tool Works, Inc. | | 34,674 | | | 6,755,535 |
| Ingersoll Rand, Inc. | | 50,552 | | | 2,394,648 |
| Nordson Corp. | | 6,989 | | | 1,587,691 |
| Otis Worldwide Corp. | | 48,671 | | | 3,515,020 |
| PACCAR, Inc. | | 40,699 | | | 3,561,569 |
| Parker-Hannifin Corp. | | 14,730 | | | 3,903,450 |
| Pentair PLC | | 17,619 | | | 784,046 |
| Snap-on, Inc. | | 5,542 | | | 1,207,380 |
| Stanley Black & Decker, Inc. | | 18,069 | | | 1,591,879 |
| Wabtec Corp. | | 22,493 | | | 1,971,511 |
| Xylem, Inc. | | 21,880 | | | 1,993,268 |
| | | | | | 63,463,585 |
| Professional services – 0.5% | | | |
| Equifax, Inc. | | 23,911 | | | 4,513,201 |
| Jacobs Solutions, Inc. | | 26,395 | | | 3,288,289 |
| Leidos Holdings, Inc. | | 27,711 | | | 2,633,931 |
| Nielsen Holdings PLC | | 72,561 | | | 2,020,098 |
| Robert Half International, Inc. | | 25,976 | | | 1,999,373 |
| Verisk Analytics, Inc. | | 31,915 | | | 5,973,211 |
| | | | | | 20,428,103 |
| Road and rail – 1.2% | | | |
| CSX Corp. | | 366,574 | | | 11,602,067 |
| JB Hunt Transport Services, Inc. | | 12,478 | | | 2,171,422 |
| Norfolk Southern Corp. | | 40,526 | | | 9,853,086 |
| Old Dominion Freight Line, Inc. | | 15,952 | | | 4,329,532 |
| Union Pacific Corp. | | 103,441 | | | 23,223,539 |
| | | | | | 51,179,646 |
| Trading companies and distributors – 0.1% | | | |
| Fastenal Company | | 50,023 | | | 2,517,658 |
| United Rentals, Inc. (B) | | 5,546 | | | 1,619,654 |
| W.W. Grainger, Inc. | | 3,501 | | | 1,942,845 |
| | | | | | 6,080,157 |
| | | | | | 376,992,332 |
| Information technology – 22.5% | | | | | |
| Communications equipment – 0.7% | | | |
| Arista Networks, Inc. (B) | | 26,864 | | | 3,220,456 |
| Cisco Systems, Inc. | | 504,149 | | | 22,545,543 |
| The accompanying notes are an integral part of the financial statements. | 74 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
U.S. Sector Rotation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| Communications equipment (continued) | | | |
| F5, Inc. (B) | | 7,738 | | $ | 1,215,330 |
| Juniper Networks, Inc. | | 42,170 | | | 1,198,471 |
| Motorola Solutions, Inc. | | 19,964 | | | 4,859,437 |
| | | | | | 33,039,237 |
| Electronic equipment, instruments and components – 0.6% | | | |
| Amphenol Corp., Class A | | 71,163 | | | 5,232,615 |
| CDW Corp. | | 16,093 | | | 2,747,075 |
| Corning, Inc. | | 95,412 | | | 3,274,540 |
| Keysight Technologies, Inc. (B) | | 22,254 | | | 3,647,208 |
| TE Connectivity, Ltd. | | 39,107 | | | 4,935,694 |
| Teledyne Technologies, Inc. (B) | | 5,384 | | | 1,983,250 |
| Trimble, Inc. (B) | | 31,298 | | | 1,979,599 |
| Zebra Technologies Corp., Class A (B) | | 6,703 | | | 2,021,893 |
| | | | | | 25,821,874 |
| IT services – 2.8% | | | |
| Accenture PLC, Class A | | 54,133 | | | 15,615,205 |
| Akamai Technologies, Inc. (B) | | 12,752 | | | 1,151,251 |
| Automatic Data Processing, Inc. | | 36,316 | | | 8,875,994 |
| Broadridge Financial Solutions, Inc. | | 10,119 | | | 1,732,069 |
| Cognizant Technology Solutions Corp., Class A | | 45,352 | | | 2,864,886 |
| DXC Technology Company (B) | | 24,120 | | | 597,694 |
| EPAM Systems, Inc. (B) | | 4,861 | | | 2,073,217 |
| Fidelity National Information Services, Inc. | | 53,586 | | | 4,896,153 |
| Fiserv, Inc. (B) | | 50,869 | | | 5,147,434 |
| FleetCor Technologies, Inc. (B) | | 6,627 | | | 1,408,436 |
| Gartner, Inc. (B) | | 6,964 | | | 1,986,968 |
| Global Payments, Inc. | | 23,450 | | | 2,913,194 |
| IBM Corp. | | 76,519 | | | 9,828,866 |
| Jack Henry & Associates, Inc. | | 5,944 | | | 1,142,437 |
| Mastercard, Inc., Class A | | 73,366 | | | 23,797,729 |
| Paychex, Inc. | | 27,338 | | | 3,371,869 |
| PayPal Holdings, Inc. (B) | | 98,126 | | | 9,168,893 |
| VeriSign, Inc. (B) | | 7,824 | | | 1,425,689 |
| Visa, Inc., Class A | | 141,732 | | | 28,163,566 |
| | | | | | 126,161,550 |
| Semiconductors and semiconductor equipment – 3.7% | | | |
| Advanced Micro Devices, Inc. (B) | | 153,215 | | | 13,003,357 |
| Analog Devices, Inc. | | 49,142 | | | 7,446,487 |
| Applied Materials, Inc. | | 85,497 | | | 8,042,703 |
| Broadcom, Inc. | | 38,672 | | | 19,301,575 |
| Enphase Energy, Inc. (B) | | 12,383 | | | 3,546,987 |
| Intel Corp. | | 389,554 | | | 12,434,564 |
| KLA Corp. | | 14,472 | | | 4,980,249 |
| Lam Research Corp. | | 12,901 | | | 5,649,477 |
| Microchip Technology, Inc. | | 54,180 | | | 3,535,245 |
| Micron Technology, Inc. | | 107,113 | | | 6,055,098 |
| Monolithic Power Systems, Inc. | | 4,090 | | | 1,853,506 |
| NVIDIA Corp. | | 237,771 | | | 35,889,155 |
| NXP Semiconductors NV | | 25,122 | | | 4,134,579 |
| ON Semiconductor Corp. (B) | | 40,849 | | | 2,809,186 |
| Qorvo, Inc. (B) | | 10,185 | | | 914,409 |
| Qualcomm, Inc. | | 105,651 | | | 13,974,458 |
| Skyworks Solutions, Inc. | | 15,864 | | | 1,563,397 |
| SolarEdge Technologies, Inc. (B) | | 5,642 | | | 1,557,023 |
| Teradyne, Inc. | | 14,414 | | | 1,220,001 |
| Texas Instruments, Inc. | | 88,175 | | | 14,567,392 |
| | | | | | 162,478,848 |
| Software – 7.8% | | | |
| Adobe, Inc. (B) | | 55,781 | | | 20,830,857 |
| ANSYS, Inc. (B) | | 9,461 | | | 2,349,166 |
| Autodesk, Inc. (B) | | 25,091 | | | 5,061,858 |
| Cadence Design Systems, Inc. (B) | | 31,571 | | | 5,486,093 |
| Ceridian HCM Holding, Inc. (B) | | 13,103 | | | 781,463 |
U.S. Sector Rotation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| Software (continued) | | | |
| Citrix Systems, Inc. | | 15,655 | | $ | 1,608,864 |
| Fortinet, Inc. (B) | | 80,898 | | | 3,938,924 |
| Intuit, Inc. | | 33,085 | | | 14,285,441 |
| Microsoft Corp. | | 876,547 | | | 229,190,744 |
| NortonLifeLock, Inc. | | 70,657 | | | 1,596,142 |
| Oracle Corp. | | 182,642 | | | 13,542,904 |
| Paycom Software, Inc. (B) | | 5,560 | | | 1,952,672 |
| PTC, Inc. (B) | | 13,998 | | | 1,608,230 |
| Roper Technologies, Inc. | | 12,720 | | | 5,120,818 |
| salesforce.com, Inc. (B) | | 116,496 | | | 18,187,356 |
| ServiceNow, Inc. (B) | | 23,446 | | | 10,190,101 |
| Synopsys, Inc. (B) | | 18,074 | | | 6,253,965 |
| Tyler Technologies, Inc. (B) | | 5,301 | | | 1,969,375 |
| | | | | | 343,954,973 |
| Technology hardware, storage and peripherals – 6.9% | | | |
| Apple, Inc. | | 1,858,359 | | | 292,171,202 |
| Hewlett Packard Enterprise Company | | 150,123 | | | 2,041,673 |
| HP, Inc. | | 131,611 | | | 3,778,552 |
| NetApp, Inc. | | 27,557 | | | 1,987,686 |
| Seagate Technology Holdings PLC | | 22,145 | | | 1,482,829 |
| Western Digital Corp. (B) | | 36,327 | | | 1,535,179 |
| | | | | | 302,997,121 |
| | | | | | 994,453,603 |
| Materials – 2.3% | | | | | |
| Chemicals – 1.6% | | | |
| Air Products & Chemicals, Inc. | | 25,756 | | | 6,502,102 |
| Albemarle Corp. | | 13,787 | | | 3,694,365 |
| Celanese Corp. | | 13,953 | | | 1,546,830 |
| CF Industries Holdings, Inc. | | 23,499 | | | 2,431,207 |
| Corteva, Inc. | | 82,876 | | | 5,091,073 |
| Dow, Inc. | | 87,542 | | | 4,464,642 |
| DuPont de Nemours, Inc. | | 61,841 | | | 3,440,833 |
| Eastman Chemical Company | | 16,721 | | | 1,521,611 |
| Ecolab, Inc. | | 28,849 | | | 4,726,332 |
| FMC Corp. | | 13,950 | | | 1,507,716 |
| International Flavors & Fragrances, Inc. | | 31,305 | | | 3,458,576 |
| Linde PLC | | 58,294 | | | 16,489,041 |
| LyondellBasell Industries NV, Class A | | 32,014 | | | 2,657,162 |
| PPG Industries, Inc. | | 28,369 | | | 3,602,296 |
| The Mosaic Company | | 45,023 | | | 2,425,389 |
| The Sherwin-Williams Company | | 26,969 | | | 6,259,505 |
| | | | | | 69,818,680 |
| Construction materials – 0.1% | | | |
| Martin Marietta Materials, Inc. | | 6,777 | | | 2,356,431 |
| Vulcan Materials Company | | 16,446 | | | 2,738,095 |
| | | | | | 5,094,526 |
| Containers and packaging – 0.3% | | | |
| Amcor PLC | | 159,937 | | | 1,920,843 |
| Avery Dennison Corp. | | 10,522 | | | 1,932,050 |
| Ball Corp. | | 34,421 | | | 1,921,036 |
| International Paper Company | | 46,608 | | | 1,939,825 |
| Packaging Corp. of America | | 11,437 | | | 1,565,954 |
| Sealed Air Corp. | | 14,606 | | | 785,949 |
| Westrock Company | | 28,915 | | | 1,173,660 |
| | | | | | 11,239,317 |
| Metals and mining – 0.3% | | | |
| Ferroglobe PLC (B)(C) | | 4,538 | | | 0 |
| Freeport-McMoRan, Inc. | | 172,790 | | | 5,114,584 |
| Newmont Corp. | | 91,924 | | | 3,801,977 |
| Nucor Corp. | | 31,103 | | | 4,134,833 |
| | | | | | 13,051,394 |
| | | | | | 99,203,917 |
| The accompanying notes are an integral part of the financial statements. | 75 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
U.S. Sector Rotation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| Real estate – 2.6% | | | | | |
| Equity real estate investment trusts – 2.5% | | | |
| Alexandria Real Estate Equities, Inc. | | 18,085 | | $ | 2,774,239 |
| American Tower Corp. | | 54,699 | | | 13,896,281 |
| AvalonBay Communities, Inc. | | 17,551 | | | 3,526,171 |
| Boston Properties, Inc. | | 15,023 | | | 1,193,277 |
| Camden Property Trust | | 12,122 | | | 1,557,798 |
| Crown Castle, Inc. | | 51,787 | | | 8,846,773 |
| Digital Realty Trust, Inc. | | 32,586 | | | 4,028,607 |
| Duke Realty Corp. | | 47,044 | | | 2,768,539 |
| Equinix, Inc. | | 10,955 | | | 7,201,488 |
| Equity Residential | | 42,952 | | | 3,143,227 |
| Essex Property Trust, Inc. | | 7,427 | | | 1,968,601 |
| Extra Space Storage, Inc. | | 15,766 | | | 3,133,177 |
| Federal Realty Investment Trust | | 7,795 | | | 789,400 |
| Healthpeak Properties, Inc. | | 60,858 | | | 1,597,523 |
| Host Hotels & Resorts, Inc. | | 89,517 | | | 1,590,717 |
| Iron Mountain, Inc. | | 37,606 | | | 1,978,452 |
| Kimco Realty Corp. | | 75,175 | | | 1,584,689 |
| Mid-America Apartment Communities, Inc. | | 14,086 | | | 2,333,628 |
| Prologis, Inc. | | 89,051 | | | 11,087,740 |
| Public Storage | | 17,773 | | | 5,879,842 |
| Realty Income Corp. | | 70,069 | | | 4,784,311 |
| Regency Centers Corp. | | 19,485 | | | 1,185,467 |
| SBA Communications Corp. | | 12,359 | | | 4,019,765 |
| Simon Property Group, Inc. | | 38,931 | | | 3,970,183 |
| UDR, Inc. | | 35,219 | | | 1,580,277 |
| Ventas, Inc. | | 50,709 | | | 2,426,933 |
| VICI Properties, Inc. | | 109,212 | | | 3,602,904 |
| Vornado Realty Trust | | 15,088 | | | 395,607 |
| Welltower, Inc. | | 52,787 | | | 4,046,124 |
| Weyerhaeuser Company | | 92,303 | | | 3,153,070 |
| | | | | | 110,044,810 |
| Real estate management and development – 0.1% | | | |
| CBRE Group, Inc., Class A (B) | | 40,603 | | | 3,206,013 |
| | | | | | 113,250,823 |
| Utilities – 4.7% | | | | | |
| Electric utilities – 3.0% | | | |
| Alliant Energy Corp. | | 54,300 | | | 3,314,472 |
| American Electric Power Company, Inc. | | 99,626 | | | 9,982,525 |
| Constellation Energy Corp. | | 66,931 | | | 5,460,900 |
| Duke Energy Corp. | | 149,271 | | | 15,958,563 |
| Edison International | | 78,100 | | | 5,292,837 |
| Entergy Corp. | | 39,789 | | | 4,587,672 |
| Evergy, Inc. | | 48,667 | | | 3,335,150 |
| Eversource Energy | | 66,445 | | | 5,959,452 |
| Exelon Corp. | | 196,632 | | | 8,634,111 |
| FirstEnergy Corp. | | 117,784 | | | 4,658,357 |
| NextEra Energy, Inc. | | 391,658 | | | 33,314,429 |
| NRG Energy, Inc. | | 48,629 | | | 2,007,405 |
| Pinnacle West Capital Corp. | | 26,722 | | | 2,013,503 |
| PPL Corp. | | 136,205 | | | 3,960,841 |
| The Southern Company | | 207,547 | | | 15,995,647 |
U.S. Sector Rotation Fund (continued)
| | | Shares or
Principal
Amount | | Value |
| COMMON STOCKS (continued) | | | |
| Electric utilities (continued) | | | |
| Xcel Energy, Inc. | | 108,303 | | $ | 8,041,498 |
| | | | | | 132,517,362 |
| Gas utilities – 0.1% | | | |
| Atmos Energy Corp. | | 29,152 | | | 3,305,254 |
Independent power and renewable electricity producers –
0.1% | | | |
| The AES Corp. | | 131,924 | | | 3,357,466 |
| Multi-utilities – 1.4% | | | |
| Ameren Corp. | | 49,940 | | | 4,625,443 |
| CenterPoint Energy, Inc. | | 127,795 | | | 4,029,376 |
| CMS Energy Corp. | | 59,009 | | | 3,985,468 |
| Consolidated Edison, Inc. | | 68,635 | | | 6,708,385 |
| Dominion Energy, Inc. | | 162,797 | | | 13,316,795 |
| DTE Energy Company | | 40,610 | | | 5,293,107 |
| NiSource, Inc. | | 89,626 | | | 2,644,863 |
| Public Service Enterprise Group, Inc. | | 101,404 | | | 6,526,361 |
| Sempra Energy | | 60,910 | | | 10,048,323 |
| WEC Energy Group, Inc. | | 64,535 | | | 6,656,140 |
| | | | | | 63,834,261 |
| Water utilities – 0.1% | | | |
| American Water Works Company, Inc. | | 35,807 | | | 5,315,549 |
| | | | | | 208,329,892 |
| TOTAL COMMON STOCKS (Cost $4,499,857,301) | | $ | 4,205,627,032 |
| SHORT-TERM INVESTMENTS – 4.3% | | | |
| U.S. Government Agency – 0.2% | | | | | |
Federal Home Loan Bank Discount Note
2.250%, 09/27/2022 * | $ | 8,300,000 | | | 8,286,497 |
| Short-term funds – 4.1% | | | | | |
| John Hancock Collateral Trust, 2.3160% (D)(E) | | 18,095,777 | | | 180,838,338 |
| TOTAL SHORT-TERM INVESTMENTS (Cost $189,126,937) | | $ | 189,124,835 |
Total Investments (U.S. Sector Rotation Fund)
(Cost $4,688,984,238) – 99.6% | | $ | 4,394,751,867 |
| Other assets and liabilities, net – 0.4% | | | 16,710,057 |
| TOTAL NET ASSETS – 100.0% | | $ | 4,411,461,924 |
| Security Abbreviations and Legend |
| (A) | All or a portion of this security is on loan as of 8-31-22. |
| (B) | Non-income producing security. |
| (C) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. Refer to Note 2 to the financial statements. |
| (D) | The rate shown is the annualized seven-day yield as of 8-31-22. |
| (E) | Investment is an affiliate of the fund, the advisor and/or subadvisor. A portion of this security represents the investment of cash collateral received for securities lending. Cash collateral received for securities lending amounted to $1,247,840. |
| * | Yield represents either the annualized yield at the date of purchase, the stated coupon rate or, for floating rate securities, the rate at period end. |
DERIVATIVES
FUTURES
| Open contracts | Number of
contracts | Position | Expiration
date | Notional
basis^ | Notional
value^ | Unrealized
appreciation
(depreciation) |
| S&P 500 E-Mini Index Futures | 1,028 | Long | Sep 2022 | $207,805,693 | $203,364,100 | $(4,441,593) |
| | | | | | | $(4,441,593) |
^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.
| The accompanying notes are an integral part of the financial statements. | 76 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
U.S. Sector Rotation Fund (continued)
See Notes to financial statements regarding investment transactions and other derivatives information.
| The accompanying notes are an integral part of the financial statements. | 77 | |
John Hancock Funds II
Portfolio of Investments — August 31, 2022 (showing percentage of total net assets)
The following funds had the following country composition as a percentage of net assets on 8-31-22:
Capital Appreciation Fund
| United States | 89.3% |
| Netherlands | 2.7% |
| France | 2.5% |
| Australia | 1.6% |
| Canada | 1.3% |
| Denmark | 1.3% |
| Uruguay | 1.3% |
| TOTAL | 100.0% |
Health Sciences Fund
| United States | 86.3% |
| United Kingdom | 3.5% |
| Netherlands | 2.2% |
| Germany | 2.0% |
| Switzerland | 1.5% |
| Japan | 1.5% |
| Denmark | 1.2% |
| Other countries | 1.8% |
| TOTAL | 100.0% |
High Yield Fund
| United States | 77.2% |
| Cayman Islands | 8.1% |
| Canada | 3.6% |
| Switzerland | 1.7% |
| United Kingdom | 1.6% |
| Luxembourg | 1.2% |
| Other countries | 6.6% |
| TOTAL | 100.0% |
Mid Value Fund
| United States | 83.0% |
| Canada | 3.9% |
| United Kingdom | 3.8% |
| Bermuda | 1.4% |
| Ireland | 1.3% |
| Belgium | 1.1% |
| South Africa | 1.0% |
| Netherlands | 1.0% |
| Puerto Rico | 1.0% |
| Denmark | 1.0% |
| Other countries | 1.5% |
| TOTAL | 100.0% |
Science & Technology Fund
| United States | 69.2% |
| China | 11.9% |
| Germany | 8.3% |
| Ireland | 3.6% |
| South Korea | 2.2% |
| South Africa | 1.9% |
| Uruguay | 1.2% |
| Other countries | 1.7% |
| TOTAL | 100.0% |
| The accompanying notes are an integral part of the financial statements. | 78 | |
John Hancock Funds II
Statements of assets and liabilities — August 31, 2022
| Assets | Capital Appreciation Fund | Capital Appreciation Value Fund | Core Bond Fund | Health Sciences Fund |
| Unaffiliated investments, at value (including securities loaned) | $1,387,016,502 | $1,254,367,904 | $1,756,635,987 | $316,349,900 |
| Affiliated investments, at value | — | 2,077,345 | — | — |
| Total investments, at value | 1,387,016,502 | 1,256,445,249 | 1,756,635,987 | 316,349,900 |
| Cash | — | 194,605 | — | — |
| Foreign currency, at value | — | 19,890 | — | 11,822 |
| Dividends and interest receivable | 1,103,995 | 3,768,919 | 7,681,946 | 292,567 |
| Receivable for fund shares sold | 236,450 | 18,174 | 10,700 | 4,434 |
| Receivable for investments sold | — | 1,696,182 | 27,666,253 | 42,190 |
| Receivable for delayed delivery securities sold | — | — | 152,917,973 | — |
| Receivable for securities lending income | — | 1,310 | — | — |
| Other assets | 78,847 | 62,367 | 93,641 | 473,606 |
| Total assets | 1,388,435,794 | 1,262,206,696 | 1,945,006,500 | 317,174,519 |
| Liabilities | | | | |
| Written options, at value | — | 970,653 | — | — |
| Payable for collateral on sale commitments | — | — | 220,000 | — |
| Payable for investments purchased | 2,009,760 | 4,576,847 | 33,582,098 | 150,406 |
| Payable for delayed delivery securities purchased | — | — | 298,567,464 | — |
| Payable for fund shares repurchased | 108,507 | 1,100,807 | 449,003 | — |
| Payable upon return of securities loaned | — | 2,078,100 | — | — |
| Payable to affiliates | | | | |
| Accounting and legal services fees | 50,157 | 44,756 | 55,949 | 11,551 |
| Trustees' fees | 1,287 | 1,178 | 1,470 | 302 |
| Other liabilities and accrued expenses | 263,633 | 198,566 | 235,802 | 78,493 |
| Total liabilities | 2,433,344 | 8,970,907 | 333,111,786 | 240,752 |
| Net assets | $1,386,002,450 | $1,253,235,789 | $1,611,894,714 | $316,933,767 |
| Net assets consist of | | | | |
| Paid-in capital | $680,229,451 | $1,096,975,706 | $1,832,111,081 | $233,884,122 |
| Total distributable earnings (loss) | 705,772,999 | 156,260,083 | (220,216,367) | 83,049,645 |
| Net assets | $1,386,002,450 | $1,253,235,789 | $1,611,894,714 | $316,933,767 |
| Unaffiliated investments, including repurchase agreements, at cost | $741,518,617 | $1,233,907,714 | $1,879,213,707 | $237,019,089 |
| Affiliated investments, at cost | — | $2,077,675 | — | — |
| Foreign currency, at cost | — | $20,159 | — | $12,070 |
| Premiums received on written options | — | $5,064,449 | — | — |
| Securities loaned, at value | — | $1,994,976 | — | — |
| Net asset value per share | | | | |
| The funds have an unlimited number of shares authorized with no par value. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. |
| Class 1 | | | | |
| Net assets | $537,516,675 | — | $133,712,333 | — |
| Shares outstanding | 45,308,782 | — | 11,779,567 | — |
| Net asset value, offering price and redemption price per share | $11.86 | — | $11.35 | — |
| Class NAV | | | | |
| Net assets | $848,485,775 | $1,253,235,789 | $1,478,182,381 | $316,933,767 |
| Shares outstanding | 70,975,286 | 133,891,952 | 130,449,056 | 66,680,341 |
| Net asset value, offering price and redemption price per share | $11.95 | $9.36 | $11.33 | $4.75 |
| The accompanying notes are an integral part of the financial statements. | 79 | |
John Hancock Funds II
Statements of assets and liabilities — August 31, 2022
| Assets | High Yield Fund | International Strategic Equity Allocation Fund | Mid Value Fund | Science & Technology Fund |
| Unaffiliated investments, at value (including securities loaned) | $203,112,671 | $3,935,839,203 | $1,375,382,648 | $154,462,716 |
| Affiliated investments, at value | 2,375,359 | 26,922,715 | 22,095,028 | 1,229,283 |
| Total investments, at value | 205,488,030 | 3,962,761,918 | 1,397,477,676 | 155,691,999 |
| Receivable for centrally cleared swaps | 948,976 | — | — | — |
| Unrealized appreciation on forward foreign currency contracts | 8,906 | — | — | — |
| Receivable for futures variation margin | 40 | — | — | — |
| Cash | 102,949 | 554,126 | 117,243 | 513,403 |
| Foreign currency, at value | 626,023 | 5,251,684 | 322 | 546 |
| Collateral held at broker for futures contracts | 194,142 | 9,269,557 | — | — |
| Dividends and interest receivable | 3,297,434 | 15,089,381 | 2,324,074 | 78,482 |
| Receivable for fund shares sold | — | 8,914 | 16,751 | 1,332 |
| Receivable for investments sold | 313,670 | — | 4,115,657 | 159,035 |
| Receivable for securities lending income | 5,814 | 47,438 | 18,922 | 4,585 |
| Other assets | 11,679 | 193,658 | 68,791 | 12,030 |
| Total assets | 210,997,663 | 3,993,176,676 | 1,404,139,436 | 156,461,412 |
| Liabilities | | | | |
| Unrealized depreciation on forward foreign currency contracts | 24,938 | — | — | — |
| Payable for futures variation margin | — | 1,002,322 | — | — |
| Foreign capital gains tax payable | — | 1,419,903 | — | — |
| Payable for investments purchased | 410,494 | — | 3,807,598 | 1,024,675 |
| Payable for fund shares repurchased | 215,036 | 778,273 | 1,337,423 | — |
| Payable upon return of securities loaned | 2,379,209 | 26,962,168 | 22,112,624 | 1,229,750 |
| Payable to affiliates | | | | |
| Accounting and legal services fees | 7,521 | 143,792 | 51,032 | 5,476 |
| Trustees' fees | 190 | 3,666 | 1,280 | 141 |
| Other liabilities and accrued expenses | 65,114 | 613,929 | 240,380 | 51,936 |
| Total liabilities | 3,102,502 | 30,924,053 | 27,550,337 | 2,311,978 |
| Net assets | $207,895,161 | $3,962,252,623 | $1,376,589,099 | $154,149,434 |
| Net assets consist of | | | | |
| Paid-in capital | $349,793,201 | $4,478,065,663 | $978,356,536 | $175,418,056 |
| Total distributable earnings (loss) | (141,898,040) | (515,813,040) | 398,232,563 | (21,268,622) |
| Net assets | $207,895,161 | $3,962,252,623 | $1,376,589,099 | $154,149,434 |
| Unaffiliated investments, including repurchase agreements, at cost | $246,983,166 | $4,438,291,292 | $1,152,560,546 | $165,349,356 |
| Affiliated investments, at cost | $2,376,331 | $26,922,842 | $22,095,290 | $1,229,288 |
| Foreign currency, at cost | $626,573 | $5,334,914 | $320 | $586 |
| Collateral held at broker for centrally cleared swaps | $1,016,397 | — | — | — |
| Securities loaned, at value | $2,315,634 | $26,998,695 | $26,942,953 | $1,177,298 |
| Net asset value per share | | | | |
| The funds have an unlimited number of shares authorized with no par value. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. |
| Class 1 | | | | |
| Net assets | $207,895,161 | — | — | — |
| Shares outstanding | 30,078,085 | — | — | — |
| Net asset value, offering price and redemption price per share | $6.91 | — | — | — |
| Class NAV | | | | |
| Net assets | — | $3,962,252,623 | $1,376,589,099 | $154,149,434 |
| Shares outstanding | — | 464,056,551 | 79,363,725 | 111,968,933 |
| Net asset value, offering price and redemption price per share | — | $8.54 | $17.35 | $1.38 |
| The accompanying notes are an integral part of the financial statements. | 80 | |
John Hancock Funds II
Statements of assets and liabilities — August 31, 2022
| Assets | U.S. Sector Rotation Fund |
| Unaffiliated investments, at value (including securities loaned) | $4,213,913,529 |
| Affiliated investments, at value | 180,838,338 |
| Total investments, at value | 4,394,751,867 |
| Cash | 35,043 |
| Collateral held at broker for futures contracts | 10,432,000 |
| Dividends and interest receivable | 7,469,495 |
| Receivable for fund shares sold | 1,950,780 |
| Other assets | 151,931 |
| Total assets | 4,414,791,116 |
| Liabilities | |
| Payable for futures variation margin | 1,597,035 |
| Payable for fund shares repurchased | 46,861 |
| Payable upon return of securities loaned | 1,247,840 |
| Payable to affiliates | |
| Accounting and legal services fees | 166,163 |
| Trustees' fees | 4,139 |
| Other liabilities and accrued expenses | 267,154 |
| Total liabilities | 3,329,192 |
| Net assets | $4,411,461,924 |
| Net assets consist of | |
| Paid-in capital | $4,829,295,903 |
| Total distributable earnings (loss) | (417,833,979) |
| Net assets | $4,411,461,924 |
| Unaffiliated investments, including repurchase agreements, at cost | $4,508,143,814 |
| Affiliated investments, at cost | $180,840,424 |
| Securities loaned, at value | $1,218,243 |
| Net asset value per share | |
| The funds have an unlimited number of shares authorized with no par value. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class. |
| Class NAV | |
| Net assets | $4,411,461,924 |
| Shares outstanding | 515,517,267 |
| Net asset value, offering price and redemption price per share | $8.56 |
| The accompanying notes are an integral part of the financial statements. | 81 | |
John Hancock Funds II
Statements of operations — For the year ended August 31, 2022
| Investment income | Capital Appreciation Fund | Capital Appreciation Value Fund | Core Bond Fund | Health Sciences Fund |
| Dividends | $7,560,918 | $9,641,812 | — | $2,432,990 |
| Interest | 159,621 | 14,513,340 | $33,605,327 | 8,241 |
| Securities lending | 92 | 40,059 | 802 | — |
| Less foreign taxes withheld | (156,172) | (38,672) | — | (34,716) |
| Total investment income | 7,564,459 | 24,156,539 | 33,606,129 | 2,406,515 |
| Expenses | | | | |
| Investment management fees | 12,187,119 | 10,887,913 | 9,624,173 | 3,532,033 |
| Distribution and service fees | 353,284 | — | 79,163 | — |
| Accounting and legal services fees | 247,031 | 189,257 | 240,125 | 52,655 |
| Trustees' fees | 29,845 | 21,134 | 25,306 | 6,157 |
| Custodian fees | 238,241 | 166,971 | 179,843 | 57,950 |
| Printing and postage | 15,130 | 14,895 | 15,130 | 14,457 |
| Professional fees | 90,937 | 89,798 | 132,290 | 81,174 |
| Other | 85,319 | 66,621 | 104,691 | 35,894 |
| Total expenses | 13,246,906 | 11,436,589 | 10,400,721 | 3,780,320 |
| Less expense reductions | (149,621) | (594,452) | (142,884) | (213,615) |
| Net expenses | 13,097,285 | 10,842,137 | 10,257,837 | 3,566,705 |
| Net investment income (loss) | (5,532,826) | 13,314,402 | 23,348,292 | (1,160,190) |
| Realized and unrealized gain (loss) | | | | |
| Net realized gain (loss) on | | | | |
| Unaffiliated investments and foreign currency transactions | 145,464,341 | 163,486,390 | (95,229,169) | 15,163,654 |
| Affiliated investments | 166 | (2,265) | (386) | — |
| Capital gain distributions received from affiliated investments | — | 940 | — | — |
| Written options | — | 4,531,051 | — | — |
| | 145,464,507 | 168,016,116 | (95,229,555) | 15,163,654 |
| Change in net unrealized appreciation (depreciation) of | | | | |
| Unaffiliated investments and translation of assets and liabilities in foreign currencies | (777,331,675) | (299,541,943) | (145,383,408) | (98,141,793) |
| Affiliated investments | — | (330) | — | — |
| Written options | — | 19,964,586 | — | — |
| | (777,331,675) | (279,577,687) | (145,383,408) | (98,141,793) |
| Net realized and unrealized gain (loss) | (631,867,168) | (111,561,571) | (240,612,963) | (82,978,139) |
| Decrease in net assets from operations | $(637,399,994) | $(98,247,169) | $(217,264,671) | $(84,138,329) |
| The accompanying notes are an integral part of the financial statements. | 82 | |
John Hancock Funds II
Statements of operations — For the year ended August 31, 2022
| Investment income | High Yield Fund | International Strategic Equity Allocation Fund | Mid Value Fund | Science & Technology Fund |
| Dividends | $410,606 | $100,962,985 | $28,007,996 | $579,556 |
| Interest | 14,869,459 | 646,706 | 652,881 | 28,192 |
| Non-cash dividends | — | 5,424,617 | — | — |
| Securities lending | 39,403 | 808,263 | 152,580 | 28,383 |
| Less foreign taxes withheld | (340) | (9,157,715) | (793,948) | (28,910) |
| Total investment income | 15,319,128 | 98,684,856 | 28,019,509 | 607,221 |
| Expenses | | | | |
| Investment management fees | 1,750,595 | 16,676,900 | 15,390,236 | 1,810,115 |
| Distribution and service fees | 125,042 | — | — | — |
| Accounting and legal services fees | 35,866 | 385,503 | 243,275 | 25,637 |
| Trustees' fees | 4,352 | 32,334 | 28,842 | 3,026 |
| Custodian fees | 47,288 | 975,023 | 240,901 | 45,813 |
| Printing and postage | 14,356 | 14,978 | 14,851 | 14,417 |
| Professional fees | 93,277 | 138,422 | 96,526 | 63,334 |
| Other | 23,516 | 95,615 | 60,662 | 22,355 |
| Total expenses | 2,094,292 | 18,318,775 | 16,075,293 | 1,984,697 |
| Less expense reductions | (21,523) | (3,616,145) | (898,717) | (96,381) |
| Net expenses | 2,072,769 | 14,702,630 | 15,176,576 | 1,888,316 |
| Net investment income (loss) | 13,246,359 | 83,982,226 | 12,842,933 | (1,281,095) |
| Realized and unrealized gain (loss) | | | | |
| Net realized gain (loss) on | | | | |
| Unaffiliated investments and foreign currency transactions | (14,381,518) | (2,231,918) | 230,719,627 | (392,146) |
| Affiliated investments | (2,433) | (48,865) | (12,477) | (1,478) |
| Capital gain distributions received from affiliated investments | 895 | 1,328 | 415 | 310 |
| Futures contracts | (1,683,639) | (20,203,648) | — | — |
| Forward foreign currency contracts | (29,665) | — | — | — |
| Swap contracts | 48,781 | — | — | — |
| | (16,047,579) | (22,483,103) | 230,707,565 | (393,314) |
| Change in net unrealized appreciation (depreciation) of | | | | |
| Unaffiliated investments and translation of assets and liabilities in foreign currencies | (28,480,663) | (826,817,667) | (236,460,163) | (68,569,144) |
| Affiliated investments | (1,670) | (2,622) | (2,537) | (351) |
| Futures contracts | (94,284) | (5,320,198) | — | — |
| Forward foreign currency contracts | (17,307) | — | — | — |
| Swap contracts | (100,302) | — | — | — |
| | (28,694,226) | (832,140,487) | (236,462,700) | (68,569,495) |
| Net realized and unrealized gain (loss) | (44,741,805) | (854,623,590) | (5,755,135) | (68,962,809) |
| Increase (decrease) in net assets from operations | $(31,495,446) | $(770,641,364) | $7,087,798 | $(70,243,904) |
| The accompanying notes are an integral part of the financial statements. | 83 | |
John Hancock Funds II
Statements of operations — For the year ended August 31, 2022
| Investment income | U.S. Sector Rotation Fund |
| Dividends | $39,366,742 |
| Income distributions received from affiliated investments | 55,985 |
| Interest | 400,847 |
| Securities lending | 825 |
| Less foreign taxes withheld | (6,670) |
| Total investment income | 39,817,729 |
| Expenses | |
| Investment management fees | 15,880,828 |
| Accounting and legal services fees | 373,319 |
| Trustees' fees | 27,429 |
| Custodian fees | 145,999 |
| Printing and postage | 14,784 |
| Professional fees | 137,164 |
| Other | 71,532 |
| Total expenses | 16,651,055 |
| Less expense reductions | (3,453,410) |
| Net expenses | 13,197,645 |
| Net investment income | 26,620,084 |
| Realized and unrealized gain (loss) | |
| Net realized gain (loss) on | |
| Unaffiliated investments and foreign currency transactions | (53,680,185) |
| Affiliated investments | (417) |
| Capital gain distributions received from affiliated investments | 32 |
| Futures contracts | (6,722,801) |
| | (60,403,371) |
| Change in net unrealized appreciation (depreciation) of | |
| Unaffiliated investments and translation of assets and liabilities in foreign currencies | (583,891,803) |
| Affiliated investments | (2,113) |
| Futures contracts | (5,690,485) |
| | (589,584,401) |
| Net realized and unrealized gain (loss) | (649,987,772) |
| Decrease in net assets from operations | $(623,367,688) |
| The accompanying notes are an integral part of the financial statements. | 84 | |
John Hancock Funds II
Statements of changes in net assets
| | Capital Appreciation Fund | Capital Appreciation Value Fund | Core Bond Fund |
| | Year ended
8-31-22 | Year ended
8-31-21 | Year ended
8-31-22 | Year ended
8-31-21 | Year ended
8-31-22 | Year ended
8-31-21 |
| Increase (decrease) in net assets | | | | | | |
| From operations | | | | | | |
| Net investment income (loss) | $(5,532,826) | $(8,897,217) | $13,314,402 | $14,573,571 | $23,348,292 | $22,719,273 |
| Net realized gain (loss) | 145,464,507 | 560,555,113 | 168,016,116 | 233,204,386 | (95,229,555) | 28,444,775 |
| Change in net unrealized appreciation (depreciation) | (777,331,675) | (82,360,273) | (279,577,687) | 95,729,396 | (145,383,408) | (66,179,126) |
| Increase (decrease) in net assets resulting from operations | (637,399,994) | 469,297,623 | (98,247,169) | 343,507,353 | (217,264,671) | (15,015,078) |
| Distributions to shareholders | | | | | | |
| From earnings | | | | | | |
| Class 1 | (234,037,715) | (137,564,075) | — | — | (3,151,517) | (11,967,506) |
| Class NAV | (310,779,087) | (217,716,247) | (259,582,767) | (244,603,933) | (29,676,464) | (149,414,270) |
| Total distributions | (544,816,802) | (355,280,322) | (259,582,767) | (244,603,933) | (32,827,981) | (161,381,776) |
| From fund share transactions | | | | | | |
| From fund share transactions | 431,644,019 | (160,715,577) | 215,270,220 | (144,992,873) | 73,687,525 | (748,913,797) |
| Total decrease | (750,572,777) | (46,698,276) | (142,559,716) | (46,089,453) | (176,405,127) | (925,310,651) |
| Net assets | | | | | | |
| Beginning of year | 2,136,575,227 | 2,183,273,503 | 1,395,795,505 | 1,441,884,958 | 1,788,299,841 | 2,713,610,492 |
| End of year | $1,386,002,450 | $2,136,575,227 | $1,253,235,789 | $1,395,795,505 | $1,611,894,714 | $1,788,299,841 |
| | Health Sciences Fund | High Yield Fund | International Strategic Equity Allocation Fund |
| | Year ended
8-31-22 | Year ended
8-31-21 | Year ended
8-31-22 | Year ended
8-31-21 | Year ended
8-31-22 | Year ended
8-31-21 |
| Increase (decrease) in net assets | | | | | | |
| From operations | | | | | | |
| Net investment income (loss) | $(1,160,190) | $(1,683,183) | $13,246,359 | $11,373,093 | $83,982,226 | $31,550,271 |
| Net realized gain (loss) | 15,163,654 | 62,574,609 | (16,047,579) | 3,681,557 | (22,483,103) | 124,881,620 |
| Change in net unrealized appreciation (depreciation) | (98,141,793) | 60,319,973 | (28,694,226) | 8,796,297 | (832,140,487) | 195,978,678 |
| Increase (decrease) in net assets resulting from operations | (84,138,329) | 121,211,399 | (31,495,446) | 23,850,947 | (770,641,364) | 352,410,569 |
| Distributions to shareholders | | | | | | |
| From earnings | | | | | | |
| Class 1 | — | — | (13,647,917) | (11,176,548) | — | — |
| Class NAV | (56,448,788) | (28,188,283) | — | — | (91,427,800) | (29,611,689) |
| Total distributions | (56,448,788) | (28,188,283) | (13,647,917) | (11,176,548) | (91,427,800) | (29,611,689) |
| From fund share transactions | | | | | | |
| From fund share transactions | 30,275,300 | (93,850,844) | (26,315,847) | 64,345,818 | 3,095,643,495 | (308,361,789) |
| Total increase (decrease) | (110,311,817) | (827,728) | (71,459,210) | 77,020,217 | 2,233,574,331 | 14,437,091 |
| Net assets | | | | | | |
| Beginning of year | 427,245,584 | 428,073,312 | 279,354,371 | 202,334,154 | 1,728,678,292 | 1,714,241,201 |
| End of year | $316,933,767 | $427,245,584 | $207,895,161 | $279,354,371 | $3,962,252,623 | $1,728,678,292 |
| The accompanying notes are an integral part of the financial statements. | 85 | |
John Hancock Funds II
Statements of changes in net assets
| | Mid Value Fund | Science & Technology Fund | U.S. Sector Rotation Fund |
| | Year ended
8-31-22 | Year ended
8-31-21 | Year ended
8-31-22 | Year ended
8-31-21 | Year ended
8-31-22 | Year ended
8-31-21 |
| Increase (decrease) in net assets | | | | | | |
| From operations | | | | | | |
| Net investment income (loss) | $12,842,933 | $11,906,286 | $(1,281,095) | $(1,638,028) | $26,620,084 | $10,769,635 |
| Net realized gain (loss) | 230,707,565 | 135,202,708 | (393,314) | 138,115,229 | (60,403,371) | 260,928,479 |
| Change in net unrealized appreciation (depreciation) | (236,462,700) | 262,667,821 | (68,569,495) | (53,605,525) | (589,584,401) | 60,596,857 |
| Increase (decrease) in net assets resulting from operations | 7,087,798 | 409,776,815 | (70,243,904) | 82,871,676 | (623,367,688) | 332,294,971 |
| Distributions to shareholders | | | | | | |
| From earnings | | | | | | |
| Class NAV | (149,119,105) | (48,958,611) | (121,883,322) | (62,832,282) | (259,017,769) | (127,527,639) |
| Total distributions | (149,119,105) | (48,958,611) | (121,883,322) | (62,832,282) | (259,017,769) | (127,527,639) |
| From fund share transactions | | | | | | |
| From fund share transactions | (328,074,061) | 163,868,600 | 129,167,856 | (166,090,302) | 4,085,740,784 | (291,544,447) |
| Total increase (decrease) | (470,105,368) | 524,686,804 | (62,959,370) | (146,050,908) | 3,203,355,327 | (86,777,115) |
| Net assets | | | | | | |
| Beginning of year | 1,846,694,467 | 1,322,007,663 | 217,108,804 | 363,159,712 | 1,208,106,597 | 1,294,883,712 |
| End of year | $1,376,589,099 | $1,846,694,467 | $154,149,434 | $217,108,804 | $4,411,461,924 | $1,208,106,597 |
| The accompanying notes are an integral part of the financial statements. | 86 | |
John Hancock Funds II
Financial highlights
| Per share operating performance for a share outstanding throughout each period | | Ratios and supplemental data | |
| | | | Income (loss) from investment operations | | | Less distributions | | | | Ratios to average net assets | | |
| Period ended | Net asset
value,
beginning
of period ($) | | Net
investment
income
(loss) ($)1 | Net realized and
unrealized
gain (loss)
on investments ($) | Total from
investment
operations ($) | From net
investment
income ($) | From net
realized
gain ($) | Total
distributions ($) | Net asset
value,
end of
period ($) | Total
return
(%)2 | Expenses
before
reductions
(%) | Expenses
including
reductions
(%) | Net
investment
income
(loss) (%) | Net
assets,
end of
period
(in millions) | Portfolio
turnover
(%) |
| Capital Appreciation Fund | |
| Class 1 | |
| 08-31-2022 | 24.06 | | (0.06) | (5.69) | (5.75) | — | (6.45) | (6.45) | 11.86 | (31.48) | 0.79 | 0.79 | (0.36) | 538 | 36 |
| 08-31-2021 | 23.01 | | (0.10) | 5.14 | 5.04 | — | (3.99) | (3.99) | 24.06 | 24.71 | 0.79 | 0.78 | (0.46) | 908 | 45 |
| 08-31-2020 | 15.66 | | (0.04) | 9.09 | 9.05 | — | (1.70) | (1.70) | 23.01 | 62.93 | 0.80 | 0.79 | (0.23) | 810 | 47 |
| 08-31-2019 | 18.80 | | —3 | (0.46) | (0.46) | (0.02) | (2.66) | (2.68) | 15.66 | 0.84 | 0.80 | 0.79 | (0.03) | 584 | 50 |
| 08-31-2018 | 18.56 | | 0.02 | 4.25 | 4.27 | (0.01) | (4.02) | (4.03) | 18.80 | 26.71 | 0.79 | 0.78 | 0.11 | 687 | 39 |
| Class NAV | |
| 08-31-2022 | 24.18 | | (0.05) | (5.73) | (5.78) | — | (6.45) | (6.45) | 11.95 | (31.44) | 0.74 | 0.74 | (0.29) | 848 | 36 |
| 08-31-2021 | 23.10 | | (0.09) | 5.16 | 5.07 | — | (3.99) | (3.99) | 24.18 | 24.75 | 0.74 | 0.73 | (0.41) | 1,229 | 45 |
| 08-31-2020 | 15.71 | | (0.03) | 9.12 | 9.09 | —3 | (1.70) | (1.70) | 23.10 | 63.00 | 0.75 | 0.74 | (0.18) | 1,373 | 47 |
| 08-31-2019 | 18.85 | | —3 | (0.45) | (0.45) | (0.03) | (2.66) | (2.69) | 15.71 | 0.89 | 0.75 | 0.74 | 0.03 | 1,153 | 50 |
| 08-31-2018 | 18.60 | | 0.03 | 4.26 | 4.29 | (0.02) | (4.02) | (4.04) | 18.85 | 26.76 | 0.74 | 0.73 | 0.15 | 1,128 | 39 |
| 1. Based on average daily shares outstanding. 2. Total returns would have been lower had certain expenses not been reduced during the applicable periods. 3. Less than $0.005 per share. | |
| Capital Appreciation Value Fund | |
| Class NAV | |
| 08-31-2022 | 12.56 | | 0.11 | (0.84) | (0.73) | (0.13) | (2.34) | (2.47) | 9.36 | (7.56) | 0.87 | 0.82 | 1.01 | 1,253 | 73 |
| 08-31-2021 | 11.92 | | 0.12 | 2.63 | 2.75 | (0.14) | (1.97) | (2.11) | 12.56 | 25.84 | 0.86 | 0.82 | 0.98 | 1,396 | 57 |
| 08-31-2020 | 11.75 | | 0.14 | 1.33 | 1.47 | (0.20) | (1.10) | (1.30) | 11.92 | 13.38 | 0.87 | 0.83 | 1.20 | 1,442 | 79 |
| 08-31-2019 | 12.27 | | 0.19 | 0.76 | 0.95 | (0.33) | (1.14) | (1.47) | 11.75 | 10.07 | 0.85 | 0.81 | 1.66 | 1,607 | 63 |
| 08-31-2018 | 12.26 | | 0.27 | 1.06 | 1.33 | (0.18) | (1.14) | (1.32) | 12.27 | 11.61 | 0.85 | 0.81 | 2.28 | 1,785 | 78 |
| 1. Based on average daily shares outstanding. 2. Total returns would have been lower had certain expenses not been reduced during the applicable periods. | |
| Core Bond Fund | |
| Class 1 | |
| 08-31-2022 | 13.19 | | 0.16 | (1.76) | (1.60) | (0.24) | — | (0.24) | 11.35 | (12.33) | 0.67 | 0.66 | 1.32 | 134 | 262 |
| 08-31-2021 | 13.96 | | 0.11 | (0.08) | 0.03 | (0.22) | (0.58) | (0.80) | 13.19 | 0.17 | 0.66 | 0.65 | 0.84 | 185 | 310 |
| 08-31-2020 | 13.50 | | 0.23 | 0.66 | 0.89 | (0.31) | (0.12) | (0.43) | 13.96 | 6.76 | 0.66 | 0.65 | 1.73 | 207 | 347 |
| 08-31-2019 | 12.66 | | 0.33 | 0.86 | 1.19 | (0.35) | — | (0.35) | 13.50 | 9.59 | 0.66 | 0.65 | 2.60 | 175 | 447 |
| 08-31-2018 | 13.15 | | 0.27 | (0.48) | (0.21) | (0.28) | — | (0.28) | 12.66 | (1.58) | 0.67 | 0.66 | 2.08 | 161 | 277 |
| Class NAV | |
| 08-31-2022 | 13.17 | | 0.17 | (1.77) | (1.60) | (0.24) | — | (0.24) | 11.33 | (12.30) | 0.62 | 0.61 | 1.41 | 1,478 | 262 |
| 08-31-2021 | 13.94 | | 0.12 | (0.08) | 0.04 | (0.23) | (0.58) | (0.81) | 13.17 | 0.22 | 0.61 | 0.60 | 0.89 | 1,604 | 310 |
| 08-31-2020 | 13.47 | | 0.24 | 0.66 | 0.90 | (0.31) | (0.12) | (0.43) | 13.94 | 6.90 | 0.61 | 0.60 | 1.81 | 2,507 | 347 |
| 08-31-2019 | 12.64 | | 0.34 | 0.84 | 1.18 | (0.35) | — | (0.35) | 13.47 | 9.58 | 0.61 | 0.60 | 2.63 | 2,693 | 447 |
| 08-31-2018 | 13.13 | | 0.27 | (0.47) | (0.20) | (0.29) | — | (0.29) | 12.64 | (1.54) | 0.62 | 0.61 | 2.14 | 1,548 | 277 |
| 1. Based on average daily shares outstanding. 2. Total returns would have been lower had certain expenses not been reduced during the applicable periods. | |
| Health Sciences Fund | |
| Class NAV | |
| 08-31-2022 | 6.91 | | (0.02) | (1.22) | (1.24) | — | (0.92) | (0.92) | 4.75 | (19.99) | 1.03 | 0.97 | (0.32) | 317 | 30 |
| 08-31-2021 | 5.60 | | (0.02) | 1.71 | 1.69 | — | (0.38) | (0.38) | 6.91 | 31.27 | 1.02 | 0.97 | (0.38) | 427 | 35 |
| 08-31-2020 | 4.53 | | (0.01) | 1.27 | 1.26 | — | (0.19) | (0.19) | 5.60 | 28.39 | 1.11 | 1.05 | (0.28) | 428 | 47 |
| 08-31-2019 | 5.10 | | (0.01) | (0.28) | (0.29) | — | (0.28) | (0.28) | 4.53 | (4.87) | 1.11 | 1.05 | (0.17) | 272 | 42 |
| 08-31-2018 | 5.01 | | (0.01) | 0.95 | 0.94 | — | (0.85) | (0.85) | 5.10 | 22.04 | 1.10 | 1.04 | (0.30) | 309 | 46 |
| 1. Based on average daily shares outstanding. 2. Total returns would have been lower had certain expenses not been reduced during the applicable periods. | |
| High Yield Fund | |
| Class 1 | |
| 08-31-2022 | 8.31 | | 0.41 | (1.39) | (0.98) | (0.42) | — | (0.42) | 6.91 | (12.21) | 0.84 | 0.83 | 5.30 | 208 | 43 |
| 08-31-2021 | 7.86 | | 0.40 | 0.46 | 0.86 | (0.41) | — | (0.41) | 8.31 | 11.30 | 0.84 | 0.83 | 4.91 | 279 | 82 |
| 08-31-2020 | 8.04 | | 0.43 | (0.14) | 0.29 | (0.47) | — | (0.47) | 7.86 | 4.01 | 0.85 | 0.84 | 5.54 | 202 | 81 |
| 08-31-2019 | 8.17 | | 0.46 | (0.10) | 0.36 | (0.49) | — | (0.49) | 8.04 | 4.32 | 0.82 | 0.81 | 5.77 | 250 | 51 |
| 08-31-2018 | 8.30 | | 0.47 | (0.12) | 0.35 | (0.48) | — | (0.48) | 8.17 | 4.81 | 0.79 | 0.79 | 5.69 | 282 | 60 |
| 1. Based on average daily shares outstanding. 2. Total returns would have been lower had certain expenses not been reduced during the applicable periods. | |
| The accompanying notes are an integral part of the financial statements. | 87 | |
John Hancock Funds II
Financial highlights
| Per share operating performance for a share outstanding throughout each period | | Ratios and supplemental data | |
| | | | Income (loss) from investment operations | | | Less distributions | | | | Ratios to average net assets | | |
| Period ended | Net asset
value,
beginning
of period ($) | | Net
investment
income
(loss) ($)1 | Net realized and
unrealized
gain (loss)
on investments ($) | Total from
investment
operations ($) | From net
investment
income ($) | From net
realized
gain ($) | Total
distributions ($) | Net asset
value,
end of
period ($) | Total
return
(%)2 | Expenses
before
reductions
(%) | Expenses
including
reductions
(%) | Net
investment
income
(loss) (%) | Net
assets,
end of
period
(in millions) | Portfolio
turnover
(%) |
| International Strategic Equity Allocation Fund | |
| Class NAV | |
| 08-31-2022 | 11.48 | | 0.31 | (2.64) | (2.33) | (0.29) | (0.32) | (0.61) | 8.54 | (21.25) | 0.70 | 0.56 | 3.19 | 3,962 | 783 |
| 08-31-2021 | 9.55 | | 0.19 | 1.92 | 2.11 | (0.18) | — | (0.18) | 11.48 | 22.25 | 0.69 | 0.56 | 1.81 | 1,729 | 63 |
| 08-31-2020 | 9.01 | | 0.19 | 0.62 | 0.81 | (0.27) | — | (0.27) | 9.55 | 8.98 | 0.69 | 0.56 | 2.07 | 1,714 | 76 |
| 08-31-2019 | 11.21 | | 0.26 | (0.85) | (0.59) | (0.26) | (1.35) | (1.61) | 9.01 | (3.97) | 0.69 | 0.56 | 2.74 | 1,634 | 57 |
| 08-31-2018 | 11.78 | | 0.25 | (0.01) | 0.24 | (0.29) | (0.52) | (0.81) | 11.21 | 1.81 | 0.68 | 0.55 | 2.15 | 1,832 | 94 |
| 1. Based on average daily shares outstanding. 2. Total returns would have been lower had certain expenses not been reduced during the applicable periods. 3. Excludes in-kind transactions. | |
| Mid Value Fund | |
| Class NAV | |
| 08-31-2022 | 19.15 | | 0.14 | (0.35) | (0.21) | (0.15) | (1.44) | (1.59) | 17.35 | (1.38) | 0.95 | 0.90 | 0.76 | 1,377 | 36 |
| 08-31-2021 | 14.91 | | 0.13 | 4.70 | 4.83 | (0.21) | (0.38) | (0.59) | 19.15 | 33.10 | 0.99 | 0.93 | 0.76 | 1,847 | 41 |
| 08-31-2020 | 14.27 | | 0.17 | 0.90 | 1.07 | (0.26) | (0.17) | (0.43) | 14.91 | 7.40 | 0.99 | 0.94 | 1.18 | 1,322 | 45 |
| 08-31-2019 | 17.08 | | 0.22 | (1.81) | (1.59) | (0.15) | (1.07) | (1.22) | 14.27 | (8.82) | 0.99 | 0.94 | 1.48 | 1,231 | 42 |
| 08-31-2018 | 16.00 | | 0.12 | 1.90 | 2.02 | (0.13) | (0.81) | (0.94) | 17.08 | 12.96 | 0.99 | 0.94 | 0.72 | 1,439 | 39 |
| 1. Based on average daily shares outstanding. 2. Total returns would have been lower had certain expenses not been reduced during the applicable periods. | |
| Science & Technology Fund | |
| Class NAV | |
| 08-31-2022 | 5.53 | | (0.01) | (0.89) | (0.90) | — | (3.25) | (3.25) | 1.38 | (33.02) | 1.10 | 1.05 | (0.71) | 154 | 124 |
| 08-31-2021 | 5.22 | | (0.03) | 1.47 | 1.44 | (0.01) | (1.12) | (1.13) | 5.53 | 30.29 | 1.10 | 1.04 | (0.57) | 217 | 86 |
| 08-31-2020 | 3.87 | | 0.023 | 1.69 | 1.71 | — | (0.36) | (0.36) | 5.22 | 47.55 | 1.10 | 1.06 | 0.403 | 363 | 116 |
| 08-31-2019 | 5.99 | | (0.01) | (0.32) | (0.33) | — | (1.79) | (1.79) | 3.87 | 3.19 | 1.10 | 1.06 | (0.36) | 284 | 110 |
| 08-31-2018 | 13.85 | | (0.03) | 2.33 | 2.30 | — | (10.16) | (10.16) | 5.99 | 30.59 | 1.10 | 1.05 | (0.47) | 252 | 108 |
| 1. Based on average daily shares outstanding. 2. Total returns would have been lower had certain expenses not been reduced during the applicable periods. 3. Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the fund, which amounted to $0.04 and 1.00%, respectively. | |
| U.S. Sector Rotation Fund | |
| Class NAV | |
| 08-31-2022 | 12.62 | | 0.10 | (1.22) | (1.12) | (0.11) | (2.83) | (2.94) | 8.56 | (12.17) | 0.66 | 0.52 | 1.05 | 4,411 | 1183 |
| 08-31-2021 | 10.76 | | 0.10 | 2.93 | 3.03 | (0.17) | (1.00) | (1.17) | 12.62 | 30.62 | 0.67 | 0.53 | 0.87 | 1,208 | 91 |
| 08-31-2020 | 9.86 | | 0.16 | 1.79 | 1.95 | (0.19) | (0.86) | (1.05) | 10.76 | 20.74 | 0.67 | 0.54 | 1.63 | 1,295 | 113 |
| 08-31-2019 | 13.13 | | 0.17 | (0.72) | (0.55) | (0.19) | (2.53) | (2.72) | 9.86 | (0.34) | 0.66 | 0.53 | 1.66 | 1,497 | 92 |
| 08-31-2018 | 11.57 | | 0.15 | 2.14 | 2.29 | (0.17) | (0.56) | (0.73) | 13.13 | 20.43 | 0.66 | 0.53 | 1.26 | 1,714 | 128 |
| 1. Based on average daily shares outstanding. 2. Total returns would have been lower had certain expenses not been reduced during the applicable periods. 3. Excludes in-kind transactions. | |
| The accompanying notes are an integral part of the financial statements. | 88 | |
John Hancock Funds II
Notes to financial statements
1. Organization
John Hancock Funds II (the Trust) is an open-end management investment company organized as a Massachusetts business trust. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act). It is a series company with multiple investment series, nine of which are presented in this report (the funds).
The funds may offer multiple classes of shares. The shares currently offered by a specific fund are detailed in the Statements of assets and liabilities. Class 1 shares are offered only to certain affiliates of Manulife Financial Corporation. Class NAV shares are offered to John Hancock affiliated funds of funds, retirement plans for employees of John Hancock and/or Manulife Financial Corporation, and certain 529 plans. Shareholders of each class have exclusive voting rights to matters that affect that class. The distribution and service fees, if any, and transfer agent fees for each class may differ.
2. Significant accounting policies
The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (US GAAP), which require management to make certain estimates and assumptions as of the date of the financial statements. Actual results could differ from those estimates and those differences could be significant. The funds qualify as investment companies under Topic 946 of Accounting Standards Codification of US GAAP.
Events or transactions occurring after the end of the fiscal period through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The following summarizes the significant accounting policies of the funds:
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 funds' Valuation Policies and Procedures.
In order to value the securities, the funds use 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 in open-end mutual funds, including John Hancock Collateral Trust (JHCT), are valued at their respective NAVs each business day. Debt obligations are typically valued based on evaluated prices provided by an independent pricing vendor. Independent pricing vendors utilize matrix pricing, which takes into account factors such as institutional-size trading in similar groups of securities, yield, quality, coupon rate, maturity, type of issue, trading characteristics and other market data, as well as broker supplied prices. Exchange-traded options are valued at the mid-price of the last quoted bid and ask prices from the exchange where the option trades. Unlisted options are generally valued using evaluated prices obtained from an independent pricing vendor. Futures contracts whose settlement prices are determined as of the close of the NYSE are typically valued based on the settlement price while other futures contracts are typically valued at the last traded price on the exchange on which they trade. Foreign equity index futures that trade in the electronic trading market subsequent to the close of regular trading may be valued at the last traded price in the electronic trading market as of 4:00 P.M. ET, or may be fair valued based on fair value adjustment factors provided by an independent pricing vendor in order to adjust for events that may occur between the close of foreign exchanges or markets and the close of the NYSE. Swaps are valued using evaluated prices obtained from an independent pricing vendor. Forward foreign currency contracts are valued at the prevailing forward rates which are based on foreign currency exchange spot rates and forward points supplied by an independent pricing vendor. Foreign securities and currencies are valued in U.S. dollars based on foreign currency exchange rates supplied by an independent pricing vendor.
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 funds' 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. Trading in foreign securities may be completed before the scheduled daily close of trading on the NYSE. Significant events at the issuer or market level may affect the values of securities between the time when the valuation of the securities is generally determined and the close of the NYSE. If a significant event occurs, these securities may be fair valued, as determined in good faith by the funds' Pricing Committee, following procedures established by the Board of Trustees. The funds use fair value adjustment factors provided by an independent pricing vendor to value certain foreign securities in order to adjust for events that may occur between the close of foreign exchanges or markets and the close of the NYSE.
The funds use 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 funds' 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.
Significant accounting policies, continued
The following is a summary of the values by input classification of the funds' investments as of August 31, 2022, by major security category or type:
| | Total
value at
8-31-22 | Level 1
quoted
price | Level 2
significant
observable
inputs | Level 3
significant
unobservable
inputs |
| Capital Appreciation Fund |
| Investments in securities: | | | | |
| Assets | | | | |
| Common stocks | | | | |
| Communication services | $119,326,024 | $119,326,024 | — | — |
| Consumer discretionary | 401,869,788 | 366,942,143 | $34,927,645 | — |
| Consumer staples | 64,484,901 | 64,484,901 | — | — |
| Energy | 19,282,460 | 19,282,460 | — | — |
| Financials | 49,539,154 | 49,539,154 | — | — |
| Health care | 162,048,318 | 162,048,318 | — | — |
| Industrials | 23,985,955 | 23,985,955 | — | — |
| Information technology | 508,296,311 | 484,326,646 | 23,969,665 | — |
| Real estate | 21,643,536 | 21,643,536 | — | — |
| Short-term investments | 16,540,055 | 16,540,055 | — | — |
| Total investments in securities | $1,387,016,502 | $1,328,119,192 | $58,897,310 | — |
| |
| Capital Appreciation Value Fund |
| Investments in securities: | | | | |
| Assets | | | | |
| Common stocks | $751,409,112 | $743,706,409 | $7,702,703 | — |
| Preferred securities | 6,952,619 | 6,952,619 | — | — |
| U.S. Government and Agency obligations | 98,317,605 | — | 98,317,605 | — |
| Corporate bonds | 90,293,943 | — | 90,293,943 | — |
| Convertible bonds | 2,213,937 | — | 2,213,937 | — |
| Term loans | 179,281,982 | — | 179,281,982 | — |
| Short-term investments | 127,976,051 | 127,976,051 | — | — |
| Total investments in securities | $1,256,445,249 | $878,635,079 | $377,810,170 | — |
| Derivatives: | | | | |
| Liabilities | | | | |
| Written options | $(970,653) | — | $(970,653) | — |
| |
| Core Bond Fund |
| Investments in securities: | | | | |
| Assets | | | | |
| U.S. Government and Agency obligations | $899,462,045 | — | $899,462,045 | — |
| Foreign government obligations | 12,611,619 | — | 12,611,619 | — |
| Corporate bonds | 425,952,304 | — | 425,952,304 | — |
| Municipal bonds | 3,963,783 | — | 3,963,783 | — |
| Collateralized mortgage obligations | 155,068,568 | — | 155,068,568 | — |
| Asset backed securities | 165,524,374 | — | 165,524,374 | — |
| Short-term investments | 94,053,294 | $94,053,294 | — | — |
| Total investments in securities | $1,756,635,987 | $94,053,294 | $1,662,582,693 | — |
| |
| Health Sciences Fund |
| Investments in securities: | | | | |
| Assets | | | | |
| Common stocks | | | | |
| Consumer discretionary | $681,445 | $681,445 | — | — |
| Financials | 405,444 | 405,444 | — | — |
| Health care | 310,024,281 | 297,689,535 | $12,296,536 | $38,210 |
| Industrials | 935,846 | 935,846 | — | — |
| Information technology | 239,490 | — | 239,490 | — |
| Materials | 245,062 | 245,062 | — | — |
| Preferred securities | 2,147,703 | — | 2,147,703 | — |
Significant accounting policies, continued
| | Total
value at
8-31-22 | Level 1
quoted
price | Level 2
significant
observable
inputs | Level 3
significant
unobservable
inputs |
| Health Sciences Fund (continued) |
| Warrants | $9,523 | $9,523 | — | — |
| Short-term investments | 1,661,106 | 1,661,106 | — | — |
| Total investments in securities | $316,349,900 | $301,627,961 | $14,683,729 | $38,210 |
| |
| High Yield Fund |
| Investments in securities: | | | | |
| Assets | | | | |
| Foreign government obligations | $1,467,822 | — | $1,467,822 | — |
| Corporate bonds | 169,678,154 | — | 169,678,154 | — |
| Convertible bonds | 2,290,755 | — | 2,290,755 | — |
| Term loans | 11,820,641 | — | 11,393,140 | $427,501 |
| Asset backed securities | 14,967,555 | — | 14,967,555 | — |
| Common stocks | 1,374,240 | $1,345,185 | 21,250 | 7,805 |
| Preferred securities | 1,512,210 | 948,530 | — | 563,680 |
| Short-term investments | 2,376,653 | 2,376,653 | — | — |
| Total investments in securities | $205,488,030 | $4,670,368 | $199,818,676 | $998,986 |
| Derivatives: | | | | |
| Assets | | | | |
| Forward foreign currency contracts | $8,906 | — | $8,906 | — |
| Swap contracts | 163,165 | — | 163,165 | — |
| Liabilities | | | | |
| Futures | (69,746) | $(69,746) | — | — |
| Forward foreign currency contracts | (24,938) | — | (24,938) | — |
| Swap contracts | (71,862) | — | (71,862) | — |
| Level 3 includes securities valued at $0. Refer to Portfolio of Investments. |
| |
| International Strategic Equity Allocation Fund |
| Investments in securities: | | | | |
| Assets | | | | |
| Common stocks | | | | |
| Australia | $225,908,232 | — | $225,908,232 | — |
| Austria | 5,053,154 | — | 5,053,154 | — |
| Belgium | 9,454,790 | — | 9,454,790 | — |
| Brazil | 46,967,213 | $46,967,213 | — | — |
| Canada | 398,647,829 | 398,647,829 | — | — |
| Chile | 5,768,968 | 4,534,220 | 1,234,748 | — |
| China | 370,487,714 | 34,542,327 | 335,630,803 | $314,584 |
| Colombia | 2,335,572 | 2,335,572 | — | — |
| Czech Republic | 1,398,886 | — | 1,398,886 | — |
| Denmark | 69,756,119 | — | 69,756,119 | — |
| Finland | 21,197,598 | — | 21,197,598 | — |
| France | 267,045,108 | — | 267,045,108 | — |
| Germany | 148,628,487 | — | 148,628,487 | — |
| Hong Kong | 93,215,882 | 698,181 | 92,263,082 | 254,619 |
| Hungary | 2,010,193 | — | 2,010,193 | — |
| India | 137,429,259 | — | 137,231,374 | 197,885 |
| Indonesia | 23,985,401 | — | 23,985,401 | — |
| Ireland | 24,755,170 | 757,660 | 23,997,510 | — |
| Israel | 18,009,763 | 5,753,057 | 12,256,706 | — |
| Italy | 30,938,173 | — | 30,938,173 | — |
| Japan | 399,932,860 | — | 399,932,860 | — |
| Jordan | 662,648 | — | 662,648 | — |
| Luxembourg | 6,043,136 | — | 6,043,136 | — |
| Macau | 888,294 | — | 888,294 | — |
Significant accounting policies, continued
| | Total
value at
8-31-22 | Level 1
quoted
price | Level 2
significant
observable
inputs | Level 3
significant
unobservable
inputs |
| International Strategic Equity Allocation Fund (continued) |
| Malaysia | $28,807,915 | — | $28,807,915 | — |
| Mexico | 26,135,989 | $26,135,989 | — | — |
| Netherlands | 76,337,076 | — | 76,337,076 | — |
| New Zealand | 7,322,367 | — | 7,322,367 | — |
| Norway | 19,694,374 | — | 19,694,374 | — |
| Peru | 4,233,000 | 4,233,000 | — | — |
| Philippines | 8,937,841 | — | 8,937,841 | — |
| Poland | 6,011,591 | — | 6,011,591 | — |
| Portugal | 3,077,682 | — | 3,077,682 | — |
| Qatar | 11,828,474 | — | 11,828,474 | — |
| Romania | 404,405 | — | 404,405 | — |
| Saudi Arabia | 59,335,689 | — | 59,335,689 | — |
| Singapore | 26,288,884 | 3,514,994 | 22,773,890 | — |
| South Africa | 35,679,187 | — | 35,679,187 | — |
| South Korea | 140,052,049 | — | 140,052,049 | — |
| Spain | 41,318,277 | — | 41,318,277 | — |
| Sweden | 50,103,256 | — | 50,103,256 | — |
| Switzerland | 223,326,118 | — | 223,326,118 | — |
| Taiwan | 102,575,955 | — | 102,575,955 | — |
| Thailand | 23,959,663 | — | 23,959,663 | — |
| Turkey | 2,690,094 | — | 2,690,094 | — |
| United Arab Emirates | 16,106,070 | — | 16,106,070 | — |
| United Kingdom | 501,812,989 | 1,272,421 | 500,540,568 | — |
| United States | 2,202,047 | 1,970,959 | 231,088 | — |
| Preferred securities | | | | |
| Brazil | 18,119,876 | 18,119,876 | — | — |
| Chile | 2,771,888 | 2,771,888 | — | — |
| Colombia | 1,151,780 | 1,151,780 | — | — |
| Germany | 10,092,318 | — | 10,092,318 | — |
| South Korea | 7,846,186 | — | 7,846,186 | — |
| Warrants | 53,031 | 53,031 | — | — |
| Short-term investments | 193,965,398 | 26,922,715 | 167,042,683 | — |
| Total investments in securities | $3,962,761,918 | $580,382,712 | $3,381,612,118 | $767,088 |
| Derivatives: | | | | |
| Liabilities | | | | |
| Futures | $(6,127,011) | $(6,127,011) | — | — |
| Level 3 includes securities valued at $0. Refer to Portfolio of Investments. |
| |
| Mid Value Fund |
| Investments in securities: | | | | |
| Assets | | | | |
| Common stocks | | | | |
| Communication services | $77,763,435 | $77,763,435 | — | — |
| Consumer discretionary | 81,357,633 | 70,368,714 | $10,988,919 | — |
| Consumer staples | 109,065,965 | 95,859,817 | 13,206,148 | — |
| Energy | 112,144,479 | 112,144,479 | — | — |
| Financials | 244,899,753 | 234,528,482 | 10,371,271 | — |
| Health care | 174,847,919 | 150,121,190 | 24,726,729 | — |
| Industrials | 147,549,310 | 128,602,209 | 18,947,101 | — |
| Information technology | 66,346,585 | 66,346,585 | — | — |
| Materials | 110,599,617 | 98,301,589 | 12,298,028 | — |
| Real estate | 85,835,287 | 85,835,287 | — | — |
| Utilities | 75,273,798 | 75,273,798 | — | — |
Significant accounting policies, continued
| | Total
value at
8-31-22 | Level 1
quoted
price | Level 2
significant
observable
inputs | Level 3
significant
unobservable
inputs |
| Mid Value Fund (continued) |
| Short-term investments | $111,793,895 | $111,793,895 | — | — |
| Total investments in securities | $1,397,477,676 | $1,306,939,480 | $90,538,196 | — |
| |
| Science & Technology Fund |
| Investments in securities: | | | | |
| Assets | | | | |
| Common stocks | | | | |
| Communication services | $25,579,812 | $24,416,774 | $1,112,801 | $50,237 |
| Consumer discretionary | 47,043,643 | 30,909,237 | 16,134,406 | — |
| Health care | 785,321 | 785,321 | — | — |
| Information technology | 71,255,402 | 67,894,783 | 3,360,619 | — |
| Real estate | 1,123,936 | 1,123,936 | — | — |
| Short-term investments | 9,903,885 | 9,903,885 | — | — |
| Total investments in securities | $155,691,999 | $135,033,936 | $20,607,826 | $50,237 |
| |
| U.S. Sector Rotation Fund |
| Investments in securities: | | | | |
| Assets | | | | |
| Common stocks | | | | |
| Communication services | $303,512,614 | $303,512,614 | — | — |
| Consumer discretionary | 471,083,456 | 471,079,825 | $3,631 | — |
| Consumer staples | 418,039,296 | 418,039,296 | — | — |
| Energy | 195,228,012 | 195,228,012 | — | — |
| Financials | 480,923,489 | 480,923,489 | — | — |
| Health care | 544,609,598 | 544,609,598 | — | — |
| Industrials | 376,992,332 | 376,992,332 | — | — |
| Information technology | 994,453,603 | 994,453,603 | — | — |
| Materials | 99,203,917 | 99,203,917 | — | — |
| Real estate | 113,250,823 | 113,250,823 | — | — |
| Utilities | 208,329,892 | 208,329,892 | — | — |
| Short-term investments | 189,124,835 | 180,838,338 | 8,286,497 | — |
| Total investments in securities | $4,394,751,867 | $4,386,461,739 | $8,290,128 | — |
| Derivatives: | | | | |
| Liabilities | | | | |
| Futures | $(4,441,593) | $(4,441,593) | — | — |
| Level 3 includes securities valued at $0. Refer to Portfolio of Investments. |
Real estate investment trusts. The funds may invest in real estate investment trusts (REITs). Distributions from REITs may be recorded as income and subsequently characterized by the REIT at the end of their fiscal year as a reduction of cost of investments and/or as a realized gain. As a result, the funds will estimate the components of distributions from these securities. Such estimates are revised when the actual components of the distributions are known.
When-issued/delayed-delivery securities. The funds may purchase or sell debt securities on a when-issued or delayed-delivery basis, or in a “To Be Announced” (TBA) or “forward commitment” transaction, with delivery or payment to occur at a later date beyond the normal settlement period. TBA securities resulting from these transactions are included in the portfolio or in a schedule to the portfolio (Sale Commitments Outstanding). At the time a fund enters into a commitment to purchase or sell a security, the transaction is recorded and the value of the security is reflected in its NAV. The price of such security and the date that the security will be delivered and paid for are fixed at the time the transaction is negotiated. The value of the security may vary with market fluctuations. No interest accrues until settlement takes place. At the time that the fund enters into this type of transaction, the fund is required to have sufficient cash and/or liquid securities to cover its commitments.
Certain risks may arise upon entering into when-issued or delayed-delivery securities transactions, including the potential inability of counterparties to meet the terms of their contracts, and the issuer’s failure to issue the securities due to political, economic or other factors. Additionally, losses may arise due to changes in the value of the securities purchased or sold prior to settlement date. As a result, the fund has paid (received) cash collateral to (from) certain counterparties to these transactions, which is recorded as Cash collateral at broker for sale commitments (Payable for collateral on sale commitments), as follows:
| Fund | Counterparty | Collateral Paid/ (Received) |
| Core Bond Fund | Barclays | $(90,000) |
Significant accounting policies, continued
| Fund | Counterparty | Collateral Paid/ (Received) |
| | Citigroup, Inc. | (130,000) |
| | Total | $(220,000) |
Term loans (Floating rate loans). The funds may invest in term loans, which are debt securities and are often rated below investment grade at the time of purchase. Term loans are generally subject to legal or contractual restrictions on resale and generally have longer settlement periods than conventional debt securities. Term loans involve special types of risk, including credit risk, interest-rate risk, counterparty risk, and risk associated with extended settlement. The liquidity of term loans, including the volume and frequency of secondary market trading in such loans, varies significantly over time and among individual loans. During periods of infrequent trading, valuing a term loan can be more difficult and buying and selling a term loan at an acceptable price can be more difficult and delayed, which could result in a loss.
The funds' ability to receive payments of principal, interest and other amounts in connection with term loans will depend primarily on the financial condition of the borrower. The funds' failure to receive scheduled payments on a term loan due to a default, bankruptcy or other reason would adversely affect the funds' income and would likely reduce the value of its assets. Transactions in loan investments typically take a significant amount of time (i.e., seven days or longer) to settle. This could pose a liquidity risk to the funds and, if the funds' exposure to such investments is substantial, it could impair the funds' ability to meet redemptions. Because term loans may not be rated by independent credit rating agencies, a decision to invest in a particular loan could depend exclusively on the subadvisor’s credit analysis of the borrower and/or term loan agents. There is greater risk that the funds may have limited rights to enforce the terms of an underlying loan than for other types of debt instruments.
At August 31, 2022, Capital Appreciation Value Fund had $685,109, in unfunded loan commitments outstanding.
Mortgage and asset backed securities. The funds may invest in mortgage-related securities, such as mortgage-backed securities, and other asset-backed securities, which are debt obligations that represent interests in pools of mortgages or other income-bearing assets, such as consumer loans or receivables. Such securities often involve risks that are different from the risks associated with investing in other types of debt securities. Mortgage-backed and other asset-backed securities are subject to changes in the payment patterns of borrowers of the underlying debt. When interest rates fall, borrowers are more likely to refinance or prepay their debt before its stated maturity. This may result in the funds having to reinvest the proceeds in lower yielding securities, effectively reducing the funds' income. Conversely, if interest rates rise and borrowers repay their debt more slowly than expected, the time in which the mortgage-backed and other asset-backed securities are paid off could be extended, reducing the funds' cash available for reinvestment in higher yielding securities. The timely payment of principal and interest of certain mortgage-related securities is guaranteed with the full faith and credit of the U.S. Government. Pools created and guaranteed by non-governmental issuers, including government-sponsored corporations (e.g. FNMA), may be supported by various forms of insurance or guarantees, but there can be no assurance that private insurers or guarantors can meet their obligations under the insurance policies or guarantee arrangements. The funds are also subject to risks associated with securities with contractual cash flows including asset-backed and mortgage related securities such as collateralized mortgage obligations, mortgage pass-through securities and commercial mortgage-backed securities. The value, liquidity and related income of these securities are sensitive to changes in economic conditions, including real estate value, pre-payments, delinquencies and/or defaults, and may be adversely affected by shifts in the market’s perception of the issuers and changes in interest rates.
Payment-in-kind bonds. The funds may invest in payment-in-kind bonds (PIK Bonds). PIK Bonds allow the issuer, at its option, to make current interest payments on the bonds either in cash or in additional bonds. The market prices of PIK Bonds are affected to a greater extent by interest rate changes and thereby tend to be more volatile than securities which pay cash interest periodically. Income on these securities is computed at the contractual rate specified and is added to the principal balance of the bond. This income is required to be distributed to shareholders. Because no cash is received at the time income accrues on these securities, the funds may need to sell other investments to make distributions.
Security transactions and related investment income. Investment security transactions are accounted for on a trade date plus one basis for daily NAV calculations. However, for financial reporting purposes, investment transactions are reported on trade date. Interest income is accrued as earned. Interest income includes coupon interest and amortization/accretion of premiums/discounts on debt securities. Debt obligations may be placed in a non-accrual status and related interest income may be reduced by stopping current accruals and writing off interest receivable when the collection of all or a portion of interest has become doubtful. Capital gain distributions from underlying funds are recorded on ex-date. Dividend income is recorded on ex-date, except for dividends of certain foreign securities where the dividend may not be known until after the ex-date. In those cases, dividend income, net of withholding taxes, is recorded when the fund becomes aware of the dividends. Non-cash dividends, if any, are recorded at the fair market value of the securities received. Distributions received on securities that represent a tax return of capital and/or capital gain, if any, are recorded as a reduction of cost of investments and/or as a realized gain, if amounts are estimable. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds from litigation. Return of capital distributions from underlying funds, if any, are treated as a reduction of cost.
Securities lending. The funds may lend their securities to earn additional income. The funds receive collateral from the borrower in an amount not less than the market value of the loaned securities. The funds may invest their cash collateral in John Hancock Collateral Trust (JHCT), an affiliate of the funds, which has a floating NAV and is registered with the Securities and Exchange Commission (SEC) as an investment company. JHCT is a prime money market fund and invests in short-term money market investments. Each fund will receive the benefit of any gains and bear any losses generated by JHCT with respect to the cash collateral. Effective November 19, 2021, JHCT converted to a prime money market fund.
The funds have the right to recall loaned securities on demand. If a borrower fails to return loaned securities when due, then the lending agent is responsible and indemnifies the funds for the lent securities. The lending agent uses the collateral received from the borrower to purchase replacement securities of the same issue, type, class and series of the loaned securities. If the value of the collateral is less than the purchase cost of replacement securities, the lending agent is responsible for satisfying the shortfall but only to the extent that the shortfall is not due to any decrease in the value of JHCT.
Although the risk of loss on securities lent is mitigated by receiving collateral from the borrower and through lending agent indemnification, the funds could experience a delay in recovering securities or could experience a lower than expected return if the borrower fails to return the securities on a timely basis. During the existence of the loan, the funds will receive from the borrower amounts equivalent to any dividends, interest or other distributions on the loaned securities, as well as interest on such amounts. The funds receive compensation for lending their securities by retaining a portion of the return on
Significant accounting policies, continued
the investment of the collateral and compensation from fees earned from borrowers of the securities. Securities lending income received by the funds is net of fees retained by the securities lending agent. Net income received from JHCT is a component of securities lending income as recorded on the Statements of operations.
Obligations to repay collateral received by the funds are shown on the Statements of assets and liabilities as Payable upon return of securities loaned and are secured by the loaned securities. The following table summarizes the values of securities loaned by the funds and the corresponding cash collateral received at August 31, 2022. In addition, non-cash collateral in the form of U.S. Treasuries was pledged, as indicated below. This non-cash collateral cannot be sold or repledged by the funds, and accordingly, is not reflected in the funds' net assets.
| Fund | Market value of securities on loan | Cash collateral received | Non-cash collateral |
| Capital Appreciation Value Fund | $1,994,976 | $2,078,100 | — |
| High Yield Fund | 2,315,634 | 2,379,209 | — |
| International Strategic Equity Allocation Fund | 26,998,695 | 26,962,168 | $1,922,839 |
| Mid Value Fund | 26,942,953 | 22,112,624 | 5,633,192 |
| Science & Technology Fund | 1,177,298 | 1,229,750 | 19,176 |
| U.S. Sector Rotation Fund | 1,218,243 | 1,247,840 | — |
In addition, as of August 31, 2022, the securities lending agent held cash collateral on behalf of the Mid Value Fund of $1,042,360.
Foreign investing. Assets, including investments, and liabilities denominated in foreign currencies are translated into U.S. dollar values each day at the prevailing exchange rate. Purchases and sales of securities, income and expenses are translated into U.S. dollars at the prevailing exchange rate on the date of the transaction. The effect of changes in foreign currency exchange rates on the value of securities is reflected as a component of the realized and unrealized gains (losses) on investments. Foreign investments are subject to a decline in the value of a foreign currency versus the U.S. dollar, which reduces the dollar value of securities denominated in that currency.
Funds that invest internationally generally carry more risk than funds that invest strictly in U.S. securities. These risks are heightened for investments in emerging markets. Risks can result from differences in economic and political conditions, regulations, market practices (including higher transaction costs), accounting standards and other factors.
There may be unexpected restrictions on investments or on exposures to investments in companies located in certain foreign countries, such as China. For example, a government may restrict investment in companies or industries considered important to national interests, or intervene in the financial markets, such as by imposing trading restrictions, or banning or curtailing short selling. As a result of forced sales of a security, or inability to participate in an investment the manager otherwise believes is attractive, a fund may incur losses.
Trading in certain Chinese securities through Hong Kong Stock Connect or Bond Connect, mutual market access programs that enable foreign investment in the People's Republic of China, is subject to certain restrictions and risks. Securities offered through these programs may lose purchase eligibility and any changes in laws, regulations and policies impacting these programs may affect security prices, which could adversely affect the fund's performance.
Foreign taxes. The funds may be subject to withholding tax on income, capital gains or repatriations imposed by certain countries, a portion of which may be recoverable. Foreign taxes are accrued based upon the funds' understanding of the tax rules and rates that exist in the foreign markets in which it invests. Taxes are accrued based on gains realized by the funds as a result of certain foreign security sales. In certain circumstances, estimated taxes are accrued based on unrealized appreciation of such securities. Investment income is recorded net of foreign withholding taxes.
Overdraft. The funds may have the ability to borrow from banks for temporary or emergency purposes, including meeting redemption requests that otherwise might require the untimely sale of securities. Pursuant to the funds' custodian agreement, the custodian may loan money to the funds to make properly authorized payments. The funds are obligated to repay the custodian for any overdraft, including any related costs or expenses. The custodian may have a lien, security interest or security entitlement in any fund property that is not otherwise segregated or pledged, to the extent of any overdraft, and to the maximum extent permitted by law. Overdrafts at period end, if any, are presented under the caption Due to custodian in the Statements of assets and liabilities.
Line of credit. The funds and other affiliated funds, excluding Core Bond Fund, have entered into a syndicated line of credit agreement with Citibank, N.A. as the administrative agent that enables them to participate in a $1 billion unsecured committed line of credit. Excluding commitments designated for a certain fund and subject to the needs of all other affiliated funds, a fund can borrow up to an aggregate commitment amount of $750 million, subject to asset coverage and other limitations as specified in the agreement.
Core Bond Fund and other affiliated funds have entered into an unsecured $50 million line of credit agreement with BNP Paribas. Subject to the needs of other affiliated funds, Core Bond Fund can borrow up to the $50 million, subject to asset coverage and other limitations as specified in the agreement.
A commitment fee payable at the end of each calendar quarter, based on the average daily unused portion of each line of credit, is charged to each participating fund based on a combination of fixed and asset-based allocations and is reflected in Other expenses on the Statements of operations.
Commitment fees for the year ended August 31, 2022 were as follows:
| Fund | Commitment fee |
| Capital Appreciation Fund | $9,084 |
| Capital Appreciation Value Fund | 7,985 |
| Core Bond Fund | 36,056 |
| Health Sciences Fund | 4,869 |
| High Yield Fund | 4,495 |
| International Strategic Equity Allocation Fund | 13,621 |
| Mid Value Fund | 9,110 |
| Science & Technology Fund | 4,251 |
Significant accounting policies, continued
| Fund | Commitment fee |
| U.S. Sector Rotation Fund | $13,469 |
Expenses. Within the John Hancock group of funds complex, expenses that are directly attributable to an individual fund are allocated to such fund. Expenses that are not readily attributable to a specific fund are allocated among all funds in an equitable manner, taking into consideration, among other things, the nature and type of expense and the fund’s relative net assets. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.
Class allocations. Income, common expenses and realized and unrealized gains (losses) are determined at the fund level and allocated daily to each class of shares based on the net assets of the class. Class-specific expenses, such as distribution and service fees, if any, and transfer agent fees, for all classes, are charged daily at the class level based on the net assets of each class and the specific expense rates applicable to each class.
Federal income taxes. Each fund intends to continue to qualify as a regulated investment company by complying with the applicable provisions of the Internal Revenue Code and will not be subject to federal income tax on taxable income that is distributed to shareholders. Therefore, no federal income tax provision is required.
For federal income tax purposes, as of August 31, 2022, certain funds have capital loss carryforwards available to offset future net realized capital gains. The following table details the capital loss carryforwards available as of August 31, 2022:
| | No Expiration Date |
| Fund | Short Term | Long Term |
| Core Bond Fund | $84,409,177 | $12,782,688 |
| High Yield Fund | 2,923,109 | 97,397,139 |
As of August 31, 2022, the funds had no uncertain tax positions that would require financial statement recognition, derecognition or disclosure. The funds' federal tax returns are subject to examination by the Internal Revenue Service for a period of three years.
For federal income tax purposes, the costs of investments owned on August 31, 2022, including short-term investments, were as follows:
| Fund | Aggregate
cost | Unrealized
appreciation | Unrealized
(depreciation) | Net unrealized
appreciation/
(depreciation) |
| Capital Appreciation Fund | $757,753,335 | $684,702,634 | $(55,439,467) | $629,263,167 |
| Capital Appreciation Value Fund | 1,242,714,471 | 60,090,491 | (47,330,366) | 12,760,125 |
| Core Bond Fund | 1,891,759,547 | 274,134 | (135,397,694) | (135,123,560) |
| Health Sciences Fund | 241,350,081 | 101,277,782 | (26,277,963) | 74,999,819 |
| High Yield Fund | 250,293,081 | 937,857 | (45,737,383) | (44,799,526) |
| International Strategic Equity Allocation Fund | 4,487,886,175 | 46,781,169 | (578,032,437) | (531,251,268) |
| Mid Value Fund | 1,204,325,718 | 278,530,787 | (85,378,829) | 193,151,958 |
| Science & Technology Fund | 182,072,023 | 6,167,574 | (32,547,598) | (26,380,024) |
| U.S. Sector Rotation Fund | 4,905,987,506 | 52,360,360 | (568,037,592) | (515,677,232) |
Distribution of income and gains. Distributions to shareholders from net investment income and net realized gains, if any, are recorded on the ex-date. Core Bond Fund and High Yield Fund generally declare and pay dividends from net investment income quarterly. All other funds generally declare and pay dividends from net investment income annually. All funds generally declare and pay capital gain distributions, if any, annually.
The tax character of distributions for the year ended August 31, 2022 was as follows:
| Fund | Ordinary
Income | Long Term
Capital Gains | Total |
| Capital Appreciation Fund | $15,095,399 | $529,721,403 | $544,816,802 |
| Capital Appreciation Value Fund | 63,623,495 | 195,959,272 | 259,582,767 |
| Core Bond Fund | 32,827,981 | — | 32,827,981 |
| Health Sciences Fund | 1,460,208 | 54,988,580 | 56,448,788 |
| High Yield Fund | 13,647,917 | — | 13,647,917 |
| International Strategic Equity Allocation Fund | 44,313,581 | 47,114,219 | 91,427,800 |
| Mid Value Fund | 53,295,313 | 95,823,792 | 149,119,105 |
| Science & Technology Fund | 39,054,850 | 82,828,472 | 121,883,322 |
| U.S. Sector Rotation Fund | 42,560,602 | 216,457,167 | 259,017,769 |
The tax character of distributions for the year ended August 31, 2021 was as follows:
| Fund | Ordinary
Income | Long Term
Capital Gains | Total |
| Capital Appreciation Fund | $30,976,236 | $324,304,086 | $355,280,322 |
| Capital Appreciation Value Fund | 44,122,327 | 200,481,606 | 244,603,933 |
| Core Bond Fund | 145,020,150 | 16,361,626 | 161,381,776 |
| Health Sciences Fund | 3,190,821 | 24,997,462 | 28,188,283 |
| High Yield Fund | 11,176,548 | — | 11,176,548 |
| International Strategic Equity Allocation Fund | 29,611,689 | — | 29,611,689 |
Significant accounting policies, continued
| Fund | Ordinary
Income | Long Term
Capital Gains | Total |
| Mid Value Fund | $17,117,510 | $31,841,101 | $48,958,611 |
| Science & Technology Fund | 10,633,659 | 52,198,623 | 62,832,282 |
| U.S. Sector Rotation Fund | 20,686,562 | 106,841,077 | 127,527,639 |
Distributions paid by the funds with respect to each class of shares are calculated in the same manner, at the same time and in the same amount, except for the effect of class level expenses that may be applied differently to each class. For federal income tax purposes, net capital losses that are a result of security transactions occurring after October 31, 2021, are being deferred and are treated as occurring on September 1, 2022, the first day of the funds' next taxable year. As of August 31, 2022, the components of distributable earnings on a tax basis were as follows:
| Fund | Undistributed
Ordinary Income | Undistributed
Long Term
Capital Gains | Post-October
Deferral | Qualified
Late Year
Ordinary Losses |
| Capital Appreciation Fund | — | $138,584,430 | $59,920,046 | $2,152,739 |
| Capital Appreciation Value Fund | $14,857,169 | 128,643,532 | — | — |
| Core Bond Fund | 12,099,058 | — | — | — |
| Health Sciences Fund | — | 8,652,992 | — | 549,202 |
| High Yield Fund | 3,222,497 | — | — | — |
| International Strategic Equity Allocation Fund | 68,666,123 | — | 51,316,278 | — |
| Mid Value Fund | 25,157,596 | 179,974,450 | — | — |
| Science & Technology Fund | — | 18,118,522 | 12,241,922 | 764,202 |
| U.S. Sector Rotation Fund | 23,034,099 | 74,809,154 | — | — |
Such distributions and distributable earnings, on a tax basis, are determined in conformity with income tax regulations, which may differ from US GAAP. Distributions in excess of tax basis earnings and profits, if any, are reported in the funds' financial statements as a return of capital. Short-term gains from underlying funds are treated as ordinary income for tax purposes.
Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Temporary book-tax differences, if any, will reverse in a subsequent period. Book-tax differences are primarily attributable to net operating losses, investments in passive foreign investment companies, wash sale loss deferrals, derivative transactions and amortization and accretion on debt securities.
3. Derivative instruments
The funds may invest in derivatives in order to meet their investment objective. Derivatives include a variety of different instruments that may be traded in the over-the-counter (OTC) market, on a regulated exchange or through a clearing facility. The risks in using derivatives vary depending upon the structure of the instruments, including the use of leverage, optionality, the liquidity or lack of liquidity of the contract, the creditworthiness of the counterparty or clearing organization and the volatility of the position. Some derivatives involve risks that are potentially greater than the risks associated with investing directly in the referenced securities or other referenced underlying instrument. Specifically, the funds are exposed to the risk that the counterparty to an OTC derivatives contract will be unable or unwilling to make timely settlement payments or otherwise honor its obligations. OTC derivatives transactions typically can only be closed out with the other party to the transaction.
Derivatives which are typically traded through the OTC market are regulated by the Commodity Futures Trading Commission (the CFTC). Derivative counterparty risk is managed through an ongoing evaluation of the creditworthiness of all potential counterparties and, if applicable, designated clearing organizations. The funds attempt to reduce their exposure to counterparty risk for derivatives traded in the OTC market, whenever possible, by entering into an International Swaps and Derivatives Association (ISDA) Master Agreement with each of their OTC counterparties. The ISDA gives each party to the agreement the right to terminate all transactions traded under the agreement if there is certain deterioration in the credit quality or contractual default of the other party, as defined in the ISDA. Upon an event of default or a termination of the ISDA, the non-defaulting party has the right to close out all transactions and to net amounts owed.
As defined by the ISDA, the funds may have collateral agreements with certain counterparties to mitigate counterparty risk on OTC derivatives. Subject to established minimum levels, collateral for OTC transactions is generally determined based on the net aggregate unrealized gain or loss on contracts with a particular counterparty. Collateral pledged to the funds, if any, are held in a segregated account by a third-party agent or held by the custodian bank for the benefit of the funds and can be in the form of cash or debt securities issued by the U.S. government or related agencies; collateral posted by the funds, if any, for OTC transactions is held in a segregated account at the funds' custodian and is noted in the accompanying portfolio of investments, or if cash is posted, on the Statements of assets and liabilities. The funds' risk of loss due to counterparty risk is equal to the asset value of outstanding contracts offset by collateral received.
Certain derivatives are traded or cleared on an exchange or central clearinghouse. Exchange-traded or centrally-cleared transactions generally present less counterparty risk to a fund than OTC transactions. The exchange or clearinghouse stands between the funds and the broker to the contract and therefore, credit risk is generally limited to the failure of the exchange or clearinghouse and the clearing member.
Centrally-cleared swap contracts are subject to clearinghouse rules, including initial and variation margin requirements, daily settlement of obligations and the clearinghouse guarantee of payments to the broker. There is, however, still counterparty risk due to the potential insolvency of the broker with respect to any margin held in the brokers’ customer accounts. While clearing members are required to segregate customer assets from their own assets, in the event of insolvency, there may be a shortfall in the amount of margin held by the broker for its clients. Collateral or margin requirements for centrally-cleared derivatives are set by the broker or applicable clearinghouse. Margin for centrally-cleared transactions is detailed in the Statements of assets and liabilities as Receivable/Payable for centrally-cleared swaps. Securities pledged by the funds for centrally-cleared transactions, if any, are identified in the Portfolio of investments.
Derivative instruments, continued
Futures. A futures contract is a contractual agreement to buy or sell a particular currency or financial instrument at a pre-determined price in the future. Futures are traded on an exchange and cleared through a central clearinghouse. Risks related to the use of futures contracts include possible illiquidity of the futures markets and contract prices that can be highly volatile and imperfectly correlated to movements in the underlying financial instrument and potential losses in excess of the amounts recognized on the Statements of assets and liabilities. Use of long futures contracts subjects the funds to the risk of loss up to the notional value of the futures contracts. Use of short futures contracts subjects the funds to unlimited risk of loss.
Upon entering into a futures contract, the fund is required to deposit initial margin with the broker in the form of cash or securities. The amount of required margin is set by the broker and is generally based on a percentage of the contract value. The margin deposit must then be maintained at the established level over the life of the contract. Cash that has been pledged by a fund, if any, is detailed in the Statements of assets and liabilities as Collateral held at broker for futures contracts. Securities pledged by the funds, if any, are identified in the Portfolio of investments. Subsequent payments, referred to as variation margin, are made or received by a fund periodically and are based on changes in the market value of open futures contracts. Futures contracts are marked-to-market daily and unrealized gain or loss is recorded by the fund. Receivable/Payable for futures variation margin is included in the Statements of assets and liabilities. When the contract is closed, a fund records a realized gain or loss equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed.
The following table details how the funds used futures contracts during the year ended August 31, 2022. In addition, the table summarizes the range of notional contract amounts held by the funds, as measured at each quarter end:
| Fund | Reason | USD Notional range |
| High Yield Fund | To manage duration of the fund. | From $13.0 million to $32.1 million |
| International Strategic Equity Allocation Fund | To manage against changes in foreign currency exchange rates, manage against change in certain securities markets and gain exposure to certain securities markets. | From $62.1 million to $208.9 million |
| U.S. Sector Rotation Fund | To manage against change in certain securities markets and gain exposure to certain securities markets. | From $37.9 million to $203.4 million |
Forward foreign currency contracts. A forward foreign currency contract is an agreement between two parties to buy and sell specific currencies at a price that is set on the date of the contract. The forward contract calls for delivery of the currencies on a future date that is specified in the contract. Forwards are typically traded OTC. Risks related to the use of forwards include the possible failure of counterparties to meet the terms of the forward agreement, the failure of the counterparties to timely post collateral if applicable, and the risk that currency movements will not favor the funds thereby reducing the funds' total return, and the potential for losses in excess of the amounts recognized on the Statements of assets and liabilities.
The market value of a forward foreign currency contract fluctuates with changes in foreign currency exchange rates. Forward foreign currency contracts are marked-to-market daily and the change in value is recorded by the fund as an unrealized gain or loss. Realized gains or losses, equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed, are recorded upon delivery or receipt of the currency or settlement with the counterparty.
The following table details how the funds used forward foreign currency contracts during the year ended August 31, 2022. In addition, the table summarizes the range of notional contract amounts held by the funds, as measured at each quarter end:
| Fund | Reason | USD Notional range |
| High Yield Fund | To manage against changes in foreign currency exchange rates and to gain exposure to foreign currencies. | From $1.3 million to $2.3 million |
Options. There are two types of options, put options and call options. Options are traded either OTC or on an exchange. A call option gives the purchaser of the option the right to buy (and the seller the obligation to sell) the underlying asset at the exercise price. A put option gives the purchaser of the option the right to sell (and the writer the obligation to buy) the underlying asset at the exercise price. Writing puts and buying calls may increase the funds' exposure to changes in the value of the underlying instrument. Buying puts and writing calls may decrease the funds' exposure to such changes. Risks related to the use of options include the loss of premiums on purchased options, possible illiquidity of the options markets, trading restrictions imposed by an exchange and movements in underlying security values, and for written options, potential losses in excess of the amounts recognized on the Statements of assets and liabilities. In addition, OTC options are subject to the risks of all OTC derivatives contracts.
Purchased options are included in the Portfolio of investments and are subsequently “marked-to-market” to reflect current market value. If a purchased option expires, a fund realizes a loss equal to the premium paid for the option. Premiums paid for purchased options which are exercised or closed are added to the amounts paid or offset against the proceeds on the underlying asset transaction to determine the realized gain (loss). Written options are included as liabilities in the Statements of assets and liabilities and are “marked-to-market” to reflect the current market value. If the written option expires, a fund realizes a gain equal to the premium received. Premiums received from writing options which are exercised or closed are added to the proceeds or offset against amounts paid on the underlying asset transaction to determine the realized gain (loss).
The following table details how the funds used written options contracts during the year ended August 31, 2022. In addition, the table summarizes the range of market value amounts held by the funds, as measured at each quarter end:
| Fund | Reason | Market value range |
| Capital Appreciation Value Fund | To manage against changes in certain securities markets, to gain exposure to certain securities markets and to generate potential income from options premiums. | From $1 million to $30.7 million |
Swaps. Swap agreements are agreements between the fund and a counterparty to exchange cash flows, assets, foreign currencies or market-linked returns at specified intervals. Swap agreements are privately negotiated in the OTC market (OTC swaps) or may be executed on a registered commodities exchange (centrally cleared swaps). Swaps are marked-to-market daily and the change in value is recorded as a component of unrealized appreciation/depreciation of swap contracts. The value of the swap will typically impose collateral posting obligations on the party that is considered out-of-the-money on the swap.
Upfront payments made/received by the funds, if any, are amortized/accreted for financial reporting purposes, with the unamortized/unaccreted portion included in the Statement of assets and liabilities. A termination payment by the counterparty or the funds is recorded as realized gain or loss, as well as the net periodic payments received or paid by the funds.
Derivative instruments, continued
Entering into swap agreements involves, to varying degrees, elements of credit, market and documentation risk that may provide outcomes that produce losses in excess of the amounts recognized on the Statement of assets and liabilities. Such risks involve the possibility that there will be no liquid market for the swap, or that a counterparty may default on its obligation or delay payment under the swap terms. The counterparty may disagree or contest the terms of the swap. In addition to interest rate risk, market risks may also impact the swap. The funds may also suffer losses if it is unable to terminate or assign outstanding swaps or reduce its exposure through offsetting transactions.
Credit default swaps. Credit default swaps (CDS) involve the exchange of a fixed rate premium (paid by the Buyer), for protection against the loss in value of an underlying debt instrument, referenced entity or index, in the event of a defined credit event (such as payment default or bankruptcy). Under the terms of the swap, one party acts as a “guarantor” (the Seller), receiving the premium and agreeing to contingent payments that are specified within the credit default agreement. The funds may enter into CDS in which it may act as either Buyer or Seller. By acting as the Seller, the funds may incur economic leverage since it would be obligated to pay the Buyer the notional amount of the contract in the event of a default. The amount of loss in such case could be significant, but would typically be reduced by any recovery value on the underlying credit.
Credit default swaps — Buyer
The following table details how the funds used credit default swap contracts as the buyer during the year ended August 31, 2022. In addition, the table summarizes the range of notional contract amounts held by the funds, as measured at each quarter end:
| Fund | Reason | USD Notional range |
| High Yield Fund | To manage against potential credit events. | Up to $3.7 million |
Credit default swaps — Seller
Implied credit spreads are utilized in determining the market value of CDS agreements in which the fund is the Seller at period end. The implied credit spread generally represents the yield of the instrument above a credit-risk free rate, such as the U.S. Treasury Bond Yield, and may include upfront payments required to be made to enter into the agreement. It also serves as an indicator of the current status of the payment/performance risk and represents the likelihood or risk of default for the credit derivative. Wider credit spreads represent a deterioration of the referenced entity’s creditworthiness and an increased risk of default or other credit event occurring as defined under the terms of the agreement.
For CDS agreements where implied credit spreads are not reported or available, the average credit rating on the underlying index is shown. A deterioration of the referenced entity’s creditworthiness would indicate a greater likelihood of a credit event occurring and result in increasing market values, in absolute terms when compared to the notional amount of the swap. The maximum potential amount of future payments (undiscounted) that the fund as the Seller could be required to make under any CDS agreement equals the notional amount of the agreement.
The following table details how the funds used credit default swap contracts as the seller during the year ended August 31, 2022. In addition, the table summarizes the range of notional contract amounts held by the funds, as measured at each quarter end:
| Fund | Reason | USD Notional range |
| High Yield Fund | To gain credit exposure to an issuer or index. | From $1.2 million to $1.8 million |
Fair value of derivative instruments by risk category
The table below summarizes the fair value of derivatives held by the funds at August 31, 2022 by risk category:
| Fund | Risk | Statements of
assets and
liabilities location | Financial
instruments
location | Assets
derivatives
fair value | Liabilities
derivatives
fair value |
| Capital Appreciation Value Fund | Equity | Written options, at value | Written options | — | $(970,653) |
| High Yield Fund | Interest rate | Receivable/payable for futures variation margin1 | Futures | — | $(69,746) |
| | Currency | Unrealized appreciation (depreciation) on forward foreign currency contracts | Forward foreign currency contracts | $8,906 | (24,938) |
| | Credit | Swap contracts, at value2 | Credit default swaps | 163,165 | (71,862) |
| | | | | $172,071 | $(166,546) |
| International Strategic Equity Allocation Fund | Currency | Receivable/payable for futures variation margin1 | Futures | — | $(392,295) |
| | Equity | Receivable/payable for futures variation margin1 | Futures | — | (5,734,716) |
| | | | | — | $(6,127,011) |
| U.S. Sector Rotation Fund | Equity | Receivable/payable for futures variation margin1 | Futures | — | $(4,441,593) |
| | |
| 1 | Reflects cumulative appreciation/depreciation on open futures as disclosed in the Derivatives section of the Portfolio of investments. Only the year end variation margin receivable/payable is separately reported on the Statements of assets and liabilities. |
| 2 | Reflects cumulative value of swap contracts. Receivable/payable for centrally cleared swaps, which includes value and margin, are shown separately on the Statements of assets and liabilities. |
For financial reporting purposes, the funds do not offset OTC derivative assets or liabilities that are subject to master netting arrangements, as defined by the ISDAs, in the Statements of assets and liabilities. In the event of default by the counterparty or a termination of the agreement, the ISDA allows an offset of amounts across the various transactions between the fund and the applicable counterparty.
Derivative instruments, continued
Effect of derivative instruments on the Statements of operations
The table below summarizes the net realized gain (loss) included in the net increase (decrease) in net assets from operations, classified by derivative instrument and risk category, for the year ended August 31, 2022:
| | | Statements of operations location - Net realized gain (loss) on: | |
| Fund | Risk | Futures contracts | Forward foreign
currency contracts | Written options | Swap contracts | Total |
| Capital Appreciation Value Fund | Equity | — | — | $4,531,051 | — | $4,531,051 |
| High Yield Fund | Interest rate | $(1,683,639) | — | — | — | $(1,683,639) |
| | Currency | — | $(29,665) | — | — | (29,665) |
| | Credit | — | — | — | $48,781 | 48,781 |
| | Total | $(1,683,639) | $(29,665) | — | $48,781 | $(1,664,523) |
| International Strategic Equity Allocation Fund | Currency | $(318,104) | — | — | — | $(318,104) |
| | Equity | (19,885,544) | — | — | — | (19,885,544) |
| | Total | $(20,203,648) | — | — | — | $(20,203,648) |
| U.S. Sector Rotation Fund | Equity | $(6,722,801) | — | — | — | $(6,722,801) |
The table below summarizes the net change in unrealized appreciation (depreciation) included in the net increase (decrease) in net assets from operations, classified by derivative instrument and risk category, for the year ended August 31, 2022:
| | | Statements of operations location - Change in net unrealized appreciation (depreciation) of: | |
| Fund | Risk | Futures contracts | Forward foreign
currency contracts | Written options | Swap contracts | Total |
| Capital Appreciation Value Fund | Equity | — | — | $19,964,586 | — | $19,964,586 |
| High Yield Fund | Interest rate | $(94,284) | — | — | — | $(94,284) |
| | Currency | — | $(17,307) | — | — | (17,307) |
| | Credit | — | — | — | $(100,302) | (100,302) |
| | Total | $(94,284) | $(17,307) | — | $(100,302) | $(211,893) |
| International Strategic Equity Allocation Fund | Currency | $(238,744) | — | — | — | $(238,744) |
| | Equity | (5,081,454) | — | — | — | (5,081,454) |
| | Total | $(5,320,198) | — | — | — | $(5,320,198) |
| U.S. Sector Rotation Fund | Equity | $(5,690,485) | — | — | — | $(5,690,485) |
4. Guarantees and indemnifications
Under the Trust's organizational documents, its Officers and Trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust, including the funds. Additionally, in the normal course of business, the Trust enters into contracts with service providers that contain general indemnification clauses. The Trust's maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Trust that have not yet occurred. The risk of material loss from such claims is considered remote.
5. Fees and transactions with affiliates
John Hancock Investment Management LLC (the Advisor) serves as investment advisor for the funds. John Hancock Investment Management Distributors LLC (the Distributor), an affiliate of the Advisor, serves as principal underwriter of the funds. The Advisor and the Distributor are indirect, principally owned subsidiaries of John Hancock Life Insurance Company (U.S.A.), which in turn is a subsidiary of Manulife Financial Corporation.
Management fee. The funds have an investment management agreement with the Advisor under which the funds pay a daily management fee to the Advisor equivalent on an annual basis as detailed below. Aggregate net assets generally include the net assets of the funds and the net assets of a similar fund of John Hancock Variable Insurance Trust (JHVIT), unless otherwise noted below. JHVIT funds are advised by an affiliate of the Advisor, John Hancock Variable Trust Advisers LLC, and are distributed by an affiliate of the Advisor, John Hancock Distributors, LLC.
• Capital Appreciation Fund — a) 0.800% of the first $500 million of aggregate net assets; b) 0.700% of the next $500 million of aggregate net assets; and c) 0.670% of the excess over $1 billion of aggegate net assets.
• Capital Appreciation Value Fund — If net assets are less than $500 million, then the following fee schedule shall apply: a) 0.950% of the first $250 million of aggregate net assets; and b) 0.850% of the excess over $250 million of aggregate net assets. If net assets equal or exceed $500 million but are less than $2 billion, then the following fee schedule shall apply: a) 0.850% of the first $1 billion of aggregate net assets; and b) 0.800% of the excess over $1 billion of aggregate net assets. If net assets equal or exceed $2 billion but are less than $3 billion, then the following fee schedule shall apply: a) 0.850% of the first $500 million of aggregate net assets; and b) 0.800% of the excess over $500 million of aggregate net assets. If net assets equal or exceed $3 billion, then the management fee to be paid is 0.800% of aggregate net assets.
• Core Bond Fund — a) 0.690% of the first $200 million of aggregate net assets; b) 0.640% of the next $200 million of aggregate net assets; c) 0.570% of the next $600 million of aggregate net assets.; d) 0.560% of the next $1 billion of aggregate net assets; and e) 0.550% of the excess over $2 billion of aggregate net assets.
• Health Sciences Fund — Effective February 1, 2022, management fee is a) 1.050% of the first $500 million of aggregate net assets; b) 1.000% of the next $250 million of aggregate net assets; and c) 0.950% of excess over $750 million of aggregate net assets; d) 0.950% of the next $250 million of aggregate net assets; e) 0.900% of the next $500 million of aggregate net assets; and f) 0.900% of excess over $1.5 billion of aggregate net assets. When aggregate
Fees and transactions with affiliates, continued
net assets exceed $750 million, the management fee is 0.950% of the first $750 million of aggregate net assets. When aggregate net assets exceed $1.5 billion, the management fee is 0.900% of all aggregate net assets. Aggregate net assets include the fund and JHVIT Health Sciences Trust. Effective February 1, 2022, aggregate net assets additionally include Manulife Healthcare Fund Series I. Prior to February 1, 2022, the management fee was a) 1.050% of the first $500 million of aggregate net assets; b) 1.000% of the next $250 million of aggregate net assets; and c) 0.950% of excess over $750 million of aggregate net assets. When aggregate net assets exceeded $750 million, the management fee was 0.950% of aggregate net assets. Aggregate net assets included the fund and JHVIT Health Sciences Trust.
• High Yield Fund — a) 0.700% of the first $500 million of aggregate net assets and b) 0.650% of the excess over $500 million of aggregate net assets.
• International Strategic Equity Allocation Fund and U.S. Sector Rotation Fund — Aggregate net assets include these two funds and JHVIT Strategic Equity Allocation. The management fee paid is as follows: a) 0.675% of the first $2.5 billion of aggregate net assets; b) 0.650% of the next $5 billion of aggregate net assets; c) 0.625% of the next $2.5 billion of aggregate net assets; d) 0.600% of the next $5 billion of aggregate net assets; e) 0.595% of the next $10 billion of aggregate net assets; and f) 0.590% of the excess over $25 billion of aggregate net assets.
• Mid Value Fund — Effective February 1, 2022, management fee is a) 0.950% of the first $1 billion of aggregate net assets and b) 0.875% of the excess over $1 billion of aggregate net assets. When aggregate net assets exceed $1 billion, then the management fee rate is 0.875% of all aggregate net assets. Prior to February 1, 2022, the management fee was a) 1.050% of the first $20 million of aggregate net assets; b) 0.950% of the next $30 million of aggregate net assets; and c) 0.950% of the excess over $50 million of aggregate net assets. When aggregate net assets exceeded $50 million, then the management fee rate was 0.950% of aggregate net assets.
• Science & Technology Fund — Effective June 1, 2022, management fee is a) 1.050% of the first $50 million of aggregate net assets; b) 1.025% of the next $50 million of aggregate net assets; c)1.000% when assets reach $100 million retroactive to the first dollar; d) 0.975% when assets reach $200 million retroactive to the first dollar; and e) 0.950% when assets reach $500 million retroactive to the first dollar. When aggregate net assets exceed $500 million on any day, the management fee for that day is a) 0.950% of aggregate net assets up to $1 billion; and b) 0.925% of aggregate net assets in excess of $1 billion. Prior to June 1, 2022, the management fee was a) 1.050% of the first $500 million of aggregate net assets; and (b) 1.000% of the excess over $500 million of aggregate net assets. Aggregate net assets include the fund and JHVIT Science & Technology Fund, and effective June 1, 2022, Manulife Technology Fund.
The organizations described below act as the subadvisors to the Trust and certain of its funds pursuant to Subadvisory Agreements with the Advisor. Fund management is allocated among the following subadvisors:
| Fund | Subadvisor(s) |
| Core Bond Fund | Allspring Global Investments, LLC1 |
| Capital Appreciation Fund | Jennison Associates LLC |
International Strategic Equity Allocation Fund
U.S. Sector Rotation Fund | Manulife Investment Management (US) LLC2 |
Capital Appreciation Value Fund
Health Sciences Fund
Mid Value Fund
Science & Technology Fund3 | T. Rowe Price Associates, Inc. |
| High Yield Fund | Western Asset Management Company, LLC |
1 Effective November 1, 2021, Wells Capital Management, Incoporated was renamed Allspring Global Investments, LLC.
2 An affiliate of the Advisor.
3 Effective June 23, 2022, T. Rowe Price Associates, Inc. became the sole subadvisor to the fund and Allianz Global Investors U.S. LLC no longer serves as subadvisor.
The funds are not responsible for payment of the subadvisory fees.
Expense reimbursements. The Advisor has voluntarily agreed to reduce its management fee or if necessary make payment to each fund in an amount by which certain expenses of the respective funds exceed the percentage of average net assets as detailed below. Expenses excluded from this waiver are taxes, brokerage commissions, interest expense, litigation and indemnification expenses and other extraordinary expenses not incurred in the ordinary course of the funds’ business, management fees, class specific expenses, acquired fund fees and short dividend expenses. The Advisor may terminate this voluntary waiver at any time upon notice to the funds.
| Fund | Expense
limitation as a
percentage of
average net
assets |
| Capital Appreciation Fund | 0.20% |
| Capital Appreciation Value Fund | 0.20% |
| Core Bond Fund | 0.15% |
| Health Sciences Fund | 0.20% |
| High Yield Fund | 0.15% |
| Fund | Expense
limitation as a
percentage of
average net
assets |
| International Strategic Equity Allocation Fund | 0.25% |
| Mid Value Fund | 0.20% |
| Science & Technology Fund | 0.20% |
| U.S. Sector Rotation Fund | 0.20% |
The Advisor has contractually agreed to waive a portion of its management fee and/or reimburse expenses for certain funds of the John Hancock group of funds complex, including the funds (the participating portfolios). This waiver is based upon aggregate net assets of all the participating portfolios. The amount of the reimbursement is calculated daily and allocated among all the participating portfolios in proportion to the daily net assets of the funds. During the year ended August 31, 2022, this waiver amounted to 0.01% of the funds' average daily net assets. This arrangement expires on July 31, 2024, unless renewed by mutual agreement of the funds and the Advisor based upon a determination that this is appropriate under the circumstances at that time.
Fees and transactions with affiliates, continued
The Advisor has voluntarily agreed to waive its management fee on International Strategic Equity Allocation Fund, Science & Technology Fund and U.S. Sector Rotation Fund so that the amount retained by the Advisor after payment of the subadvisory fees for the fund does not exceed 0.45% of the fund’s average net assets. This voluntary waiver may be terminated at any time by the Advisor on notice to the Trust.
The Advisor has voluntarily agreed to waive a portion of its management fees for the funds subadvised by T. Rowe Price Associates, Inc. which include Capital Appreciation Value Fund, Health Sciences Fund, Mid Value Fund, and Science & Technology Fund. This voluntary waiver equals the amount by which the subadvisory fee paid to T. Rowe Price Associates, Inc. is reduced. This voluntary waiver may terminate at any time.
For the year ended August 31, 2022, the expense reductions described above amounted to the following:
| Expense Reimbursement by Class |
| Fund | Class 1 | Class NAV | Total |
| Capital Appreciation Fund | $61,268 | $88,353 | $149,621 |
| Capital Appreciation Value Fund | — | 594,452 | 594,452 |
| Core Bond Fund | 13,608 | 129,276 | 142,884 |
| Health Sciences Fund | — | 213,615 | 213,615 |
| High Yield Fund | 21,523 | — | 21,523 |
| International Strategic Equity Allocation Fund | — | 3,616,145 | 3,616,145 |
| Mid Value Fund | — | 898,717 | 898,717 |
| Science & Technology Fund | — | 96,381 | 96,381 |
| U.S. Sector Rotation Fund | — | 3,453,410 | 3,453,410 |
Expenses waived or reimbursed in the current fiscal period are not subject to recapture in future fiscal periods.
The investment management fees, including the impact of the waivers and reimbursements as described above, incurred for the year ended August 31, 2022, were equivalent to a net annual effective rate of the funds' average daily net assets as follows:
| Fund | Net Annual Effective Rate |
| Capital Appreciation Fund | 0.70% |
| Capital Appreciation Value Fund | 0.78% |
| Core Bond Fund | 0.57% |
| Health Sciences Fund | 0.90% |
| High Yield Fund | 0.69% |
| Fund | Net Annual Effective Rate |
| International Strategic Equity Allocation Fund | 0.50% |
| Mid Value Fund | 0.86% |
| Science & Technology Fund | 0.95% |
| U.S. Sector Rotation Fund | 0.49% |
Accounting and legal services. Pursuant to a service agreement, the funds reimburse the Advisor for all expenses associated with providing the administrative, financial, legal, compliance, accounting and recordkeeping services to the funds, including the preparation of all tax returns, periodic reports to shareholders and regulatory reports, among other services. These expenses are allocated to each share class based on its relative net assets at the time the expense was incurred. These accounting and legal services fees incurred, for the year ended August 31, 2022, amounted to an annual rate of 0.01% of the funds' average daily net assets.
Distribution and service plans. The funds have a distribution agreement with the Distributor. The funds have adopted distribution and service plans for certain classes as detailed below pursuant to Rule 12b-1 under the 1940 Act, to pay the Distributor for services provided as the distributor of shares of the funds. The funds may pay up to the following contractual rates of distribution and service fees under these arrangements, expressed as an annual percentage of average daily net assets for each class of the funds' shares:
| Class | Rule 12b-1 Fee |
| Class 1 | 0.05% |
Distribution and service fees for the year ended August 31, 2022 were:
| Fund | Class | Distribution and service fees |
| Capital Appreciation Fund | Class 1 | $353,284 |
| Core Bond Fund | Class 1 | $79,163 |
| High Yield Fund | Class 1 | $125,042 |
Trustee expenses. The funds compensate each Trustee who is not an employee of the Advisor or its affiliates. The costs of paying Trustee compensation and expenses are allocated to each fund based on their net assets relative to other funds within the John Hancock group of funds complex.
Interfund lending program. Pursuant to an Exemptive Order issued by the SEC, the funds, along with certain other funds advised by the Advisor or its affiliates, may participate in an interfund lending program. This program provides an alternative credit facility allowing the funds to borrow from, or lend money to, other participating affiliated funds. At period end, no interfund loans were outstanding. Interest expense is included in Other expenses on the Statements of operations. The funds' activity in this program during the period for which loans were outstanding was as follows:
| Fund | Borrower
or Lender | Weighted Average
Loan Balance | Days
Outstanding | Weighted Average
Interest Rate | Interest Income
(Expense) |
| Capital Appreciation Fund | Borrower | $11,200,000 | 2 | 1.890% | $(1,176) |
| Capital Appreciation Fund | Lender | 30,000,000 | 1 | 0.665% | 554 |
| Capital Appreciation Value Fund | Lender | 8,900,000 | 2 | 0.633% | 313 |
| Health Sciences Fund | Lender | 3,400,000 | 1 | 0.665% | 63 |
| Mid Value Fund | Lender | 47,200,000 | 2 | 0.652% | 1,708 |
Fees and transactions with affiliates, continued
| Fund | Borrower
or Lender | Weighted Average
Loan Balance | Days
Outstanding | Weighted Average
Interest Rate | Interest Income
(Expense) |
| Science &Technology Fund | Lender | 2,750,000 | 4 | 1.410% | 431 |
6. Fund share transactions
Transactions in funds' shares for the years ended August 31, 2022 and 2021 were as follows:
| Capital Appreciation Fund | Year Ended 8-31-22 | Year Ended 8-31-21 |
| | Shares | Amount | Shares | Amount |
| Class 1 shares | | | | |
| Sold | 1,885,863 | $30,321,585 | 2,361,771 | $52,401,542 |
| Distributions reinvested | 14,158,361 | 234,037,715 | 6,648,819 | 137,564,075 |
| Repurchased | (8,463,197) | (134,999,393) | (6,478,193) | (139,724,050) |
| Net increase | 7,581,027 | $129,359,907 | 2,532,397 | $50,241,567 |
| Class NAV shares | | | | |
| Sold | 11,002,434 | $154,959,479 | 3,812,777 | $81,891,483 |
| Distributions reinvested | 18,665,411 | 310,779,087 | 10,471,881 | 217,710,396 |
| Repurchased | (9,511,301) | (163,454,454) | (22,918,208) | (510,559,023) |
| Net increase (decrease) | 20,156,544 | $302,284,112 | (8,633,550) | $(210,957,144) |
| Total net increase (decrease) | 27,737,571 | $431,644,019 | (6,101,153) | $(160,715,577) |
| Capital Appreciation Value Fund | Year Ended 8-31-22 | Year Ended 8-31-21 |
| | Shares | Amount | Shares | Amount |
| Class NAV shares | | | | |
| Sold | 13,228,207 | $126,631,864 | 4,498,712 | $51,090,253 |
| Distributions reinvested | 25,226,702 | 259,582,767 | 22,564,938 | 244,603,933 |
| Repurchased | (15,660,719) | (170,944,411) | (36,954,905) | (440,687,059) |
| Net increase (decrease) | 22,794,190 | $215,270,220 | (9,891,255) | $(144,992,873) |
| Total net increase (decrease) | 22,794,190 | $215,270,220 | (9,891,255) | $(144,992,873) |
| Core Bond Fund | Year Ended 8-31-22 | Year Ended 8-31-21 |
| | Shares | Amount | Shares | Amount |
| Class 1 shares | | | | |
| Sold | 558,554 | $6,802,255 | 2,023,821 | $27,309,168 |
| Distributions reinvested | 249,654 | 3,151,517 | 895,305 | 11,967,506 |
| Repurchased | (3,026,217) | (37,190,897) | (3,744,848) | (49,711,159) |
| Net decrease | (2,218,009) | $(27,237,125) | (825,722) | $(10,434,485) |
| Class NAV shares | | | | |
| Sold | 19,803,959 | $236,047,635 | 33,541,791 | $449,989,308 |
| Distributions reinvested | 2,365,347 | 29,676,464 | 11,195,021 | 149,414,270 |
| Repurchased | (13,461,470) | (164,799,449) | (102,776,586) | (1,337,882,890) |
| Net increase (decrease) | 8,707,836 | $100,924,650 | (58,039,774) | $(738,479,312) |
| Total net increase (decrease) | 6,489,827 | $73,687,525 | (58,865,496) | $(748,913,797) |
| Health Sciences Fund | Year Ended 8-31-22 | Year Ended 8-31-21 |
| | Shares | Amount | Shares | Amount |
| Class NAV shares | | | | |
| Sold | 4,345,622 | $24,191,656 | 6,768,418 | $40,804,362 |
| Distributions reinvested | 10,044,268 | 56,448,788 | 4,690,230 | 28,188,283 |
| Repurchased | (9,504,977) | (50,365,144) | (26,128,757) | (162,843,489) |
| Net increase (decrease) | 4,884,913 | $30,275,300 | (14,670,109) | $(93,850,844) |
| Total net increase (decrease) | 4,884,913 | $30,275,300 | (14,670,109) | $(93,850,844) |
| High Yield Fund | Year Ended 8-31-22 | Year Ended 8-31-21 |
| | Shares | Amount | Shares | Amount |
| Class 1 shares | | | | |
| Sold | 2,402,969 | $19,413,419 | 11,098,590 | $90,700,508 |
| Distributions reinvested | 1,776,613 | 13,647,917 | 1,401,309 | 11,176,548 |
| Repurchased | (7,708,801) | (59,377,183) | (4,627,139) | (37,531,238) |
| Net increase (decrease) | (3,529,219) | $(26,315,847) | 7,872,760 | $64,345,818 |
| Total net increase (decrease) | (3,529,219) | $(26,315,847) | 7,872,760 | $64,345,818 |
Fund share transactions, continued
| International Strategic Equity Allocation Fund | Year Ended 8-31-22 | Year Ended 8-31-21 |
| | Shares | Amount | Shares | Amount |
| Class NAV shares | | | | |
| Sold | 323,192,115 | $3,176,965,2421 | 840,413 | $8,995,358 |
| Distributions reinvested | 8,825,077 | 91,427,800 | 2,820,161 | 29,611,689 |
| Repurchased | (18,584,550) | (172,749,547) | (32,504,516) | (346,968,836) |
| Net increase (decrease) | 313,432,642 | $3,095,643,495 | (28,843,942) | $(308,361,789) |
| Total net increase (decrease) | 313,432,642 | $3,095,643,495 | (28,843,942) | $(308,361,789) |
| | |
| 1 | Includes in-kind subscriptions of approximately $3.0 billion by affiliates of the fund. The cost basis of the contributed securities is equal to the market value of the securities on the date of the subscription. |
| Mid Value Fund | Year Ended 8-31-22 | Year Ended 8-31-21 |
| | Shares | Amount | Shares | Amount |
| Class NAV shares | | | | |
| Sold | 1,401,916 | $26,684,322 | 17,670,301 | $334,527,757 |
| Distributions reinvested | 8,266,026 | 149,119,105 | 3,007,286 | 48,958,611 |
| Repurchased | (26,750,313) | (503,877,488) | (12,891,043) | (219,617,768) |
| Net increase (decrease) | (17,082,371) | $(328,074,061) | 7,786,544 | $163,868,600 |
| Total net increase (decrease) | (17,082,371) | $(328,074,061) | 7,786,544 | $163,868,600 |
| Science & Technology Fund | Year Ended 8-31-22 | Year Ended 8-31-21 |
| | Shares | Amount | Shares | Amount |
| Class NAV shares | | | | |
| Sold | 15,490,826 | $27,266,486 | 2,781,512 | $14,493,127 |
| Distributions reinvested | 63,151,980 | 121,883,322 | 12,770,789 | 62,832,282 |
| Repurchased | (5,966,442) | (19,981,952) | (45,770,020) | (243,415,711) |
| Net increase (decrease) | 72,676,364 | $129,167,856 | (30,217,719) | $(166,090,302) |
| Total net increase (decrease) | 72,676,364 | $129,167,856 | (30,217,719) | $(166,090,302) |
| U.S. Sector Rotation Fund | Year Ended 8-31-22 | Year Ended 8-31-21 |
| | Shares | Amount | Shares | Amount |
| Class NAV shares | | | | |
| Sold | 430,266,464 | $4,186,145,6351 | 1,045,094 | $11,832,132 |
| Distributions reinvested | 25,953,684 | 259,017,769 | 12,417,492 | 127,527,639 |
| Repurchased | (36,414,422) | (359,422,620) | (38,046,945) | (430,904,218) |
| Net increase (decrease) | 419,805,726 | $4,085,740,784 | (24,584,359) | $(291,544,447) |
| Total net increase (decrease) | 419,805,726 | $4,085,740,784 | (24,584,359) | $(291,544,447) |
| | |
| 1 | Includes in-kind subscriptions of approximately $4.1 billion by affiliates of the fund. The cost basis of the contributed securities is equal to the market value of the securities on the date of the subscription. |
Affiliates of the Trust owned 100% of shares of Class 1 and Class NAV, respectively, with the exception of Capital Appreciation Fund and Core Bond Fund, where affiliates held 69.1% and 62.7% of Class NAV, respectively, on August 31, 2022. Such concentration of shareholders’ capital could have a material effect on the fund if such shareholders redeem from the fund.
7. Purchase and sale of securities
Purchases and sales of securities, other than short-term investments and in kind transactions, amounted to the following for the year ended August 31, 2022:
| | Purchases | Sales |
| Fund | U.S. Government | Other issuers | U.S. Government | Other issuers |
| Capital Appreciation Fund | — | $624,857,966 | — | $756,661,035 |
| Capital Appreciation Value Fund | $116,063,761 | 790,015,467 | $12,610,742 | 919,479,583 |
| Core Bond Fund | 3,150,980,295 | 1,452,391,322 | 3,173,593,004 | 1,411,372,555 |
| Health Sciences Fund | — | 108,942,391 | — | 137,039,408 |
| High Yield Fund | — | 106,872,144 | — | 135,108,684 |
| International Strategic Equity Allocation Fund | — | 1,954,590,645 | — | 2,013,389,074 |
| Mid Value Fund | — | 569,679,824 | — | 983,637,282 |
| Science & Technology Fund | — | 222,598,795 | — | 215,072,403 |
| U.S. Sector Rotation Fund | — | 2,835,258,112 | — | 3,218,493,702 |
8. Industry or sector risk
Certain funds may invest a large percentage of their assets in one or more particular industries or sectors of the economy. If a large percentage of a fund's assets are economically tied to a single or small number of industries or sectors of the economy, the fund will be less diversified than a more broadly diversified fund, and it may cause the fund to underperform if that industry or sector underperforms. In addition, focusing on a particular industry or sector may make the fund’s NAV more volatile. Further, a fund that invests in particular industries or sectors is particularly susceptible to the impact of market, economic, regulatory and other factors affecting those industries or sectors. Financial services companies can be hurt by economic declines, changes in interest rates, and regulatory and market impacts.
9. Investment in affiliated underlying funds
The funds may invest in affiliated underlying funds that are managed by the Advisor and its affiliates. Information regarding the funds' fiscal year to date purchases and sales of the affiliated underlying funds as well as income and capital gains earned by the funds, 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 |
| Capital Appreciation Fund |
| John Hancock Collateral Trust* | — | — | $5,515,825 | $(5,515,991) | $166 | — | $92 | — | — |
| Capital Appreciation Value Fund |
| John Hancock Collateral Trust* | 207,872 | — | $49,789,601 | $(47,709,661) | $(2,265) | $(330) | $40,059 | $940 | $2,077,345 |
| Core Bond Fund |
| John Hancock Collateral Trust* | — | — | $2,878,500 | $(2,878,114) | $(386) | — | $802 | — | — |
| High Yield Fund |
| John Hancock Collateral Trust* | 237,693 | $3,833,513 | $7,660,577 | $(9,114,628) | $(2,433) | $(1,670) | $39,403 | $895 | $2,375,359 |
| International Strategic Equity Allocation Fund |
| John Hancock Collateral Trust* | 2,694,050 | $9,920,810 | $775,844,123 | $(758,790,731) | $(48,865) | $(2,622) | $808,263 | $1,328 | $26,922,715 |
| Mid Value Fund |
| John Hancock Collateral Trust* | 2,210,962 | $8,311,553 | $186,004,704 | $(172,206,215) | $(12,477) | $(2,537) | $152,580 | $415 | $22,095,028 |
| Science & Technology Fund |
| John Hancock Collateral Trust* | 123,009 | $1,824,190 | $41,065,335 | $(41,658,413) | $(1,478) | $(351) | $28,383 | $310 | $1,229,283 |
| U.S. Sector Rotation Fund |
| John Hancock Collateral Trust* | 18,095,777 | $96,923 | $189,946,246 | $(9,202,301) | $(417) | $(2,113) | $56,810 | $32 | $180,838,338 |
| * | Refer to the Securities lending note within Note 2 for details regarding this investment. |
10. Investment by affiliated funds
Certain investors in the funds are affiliated funds that are managed by the Advisor and its affiliates. The affiliated funds do not invest in the funds for the purpose of exercising management or control; however, this investment may represent a significant portion of the funds' net assets. At August 31, 2022, the following fund(s) had an affiliate ownership of 5% or more of the funds' net assets:
| Fund | Affiliated Concentration |
| Capital Appreciation Fund | 42.3% |
| Capital Appreciation Value Fund | 98.6% |
| Core Bond Fund | 57.5% |
| Health Sciences Fund | 99.9% |
| International Strategic Equity Allocation Fund | 100.0% |
| Mid Value Fund | 100.0% |
| Science & Technology Fund | 100.0% |
| U.S. Sector Rotation Fund | 100.0% |
11. Interfund trading
The funds are permitted to purchase or sell securities from or to certain other affiliated funds, as set forth in Rule 17a-7 of the 1940 Act, under specified conditions outlined in procedures adopted by the Board of Trustees of the Trust. The procedures have been designed to ensure that any purchase or sale of securities by the funds from or to another fund that is or could be considered an affiliate complies with Rule 17a-7 of the 1940 Act. Further, as defined under the procedures, each transaction is effected at the current market price. Pursuant to these procedures, for the year ended August 31, 2022, the funds engaged in securities purchases and sales with affiliated funds, some of which have different fiscal reporting periods, as follows:
Interfund trading, continued
| Fund | Purchases | Sales |
| Capital Appreciation Value Fund | $2,333,573 | — |
| Health Sciences Fund | 2,106 | $94,541 |
| Mid Value Fund | 1,337,572 | 189,092 |
12. Restricted securities
The funds may hold restricted securities which are restricted as to resale and the funds have limited rights to registration under the Securities Act of 1933. Disposal may involve time-consuming negotiations and expenses, and prompt sale at an acceptable price may be difficult to achieve. The following table summarizes the restricted securities held at August 31, 2022:
Issuer,
Description | Original
acquisition date | Acquisition
cost | Beginning
share
amount | Shares
purchased | Shares
sold | Ending
share
amount | Value as a
percentage of
net assets | Ending
value |
| High Yield Fund | | | | | | | | |
| KCAD Holdings I, Ltd. | 3-21-11 | $6,150,520 | 752,218,031 | — | — | 752,218,031 | 0.0%1 | $752 |
| MWO Holdings LLC | 8-30-16 | 1,116,559 | 1,134 | — | — | 1,134 | 0.0%1 | 7,053 |
| New Cotai, Inc., Class B | 4-12-13 | 0 | 11 | — | — | 11 | 0.0% | 0 |
| | | | | | | | | $7,805 |
13. LIBOR discontinuation risk
LIBOR (London Interbank Offered Rate) is a measure of the average interest rate at which major global banks can borrow from one another. Following allegations of rate manipulation and concerns regarding its thin liquidity, in July 2017, the U.K. Financial Conduct Authority, which regulates LIBOR, announced that it will stop encouraging banks to provide the quotations needed to sustain LIBOR. As market participants transition away from LIBOR, LIBOR’s usefulness may deteriorate and these effects could be experienced until the permanent cessation of the majority of U.S. LIBOR rates in 2023. The transition process may lead to increased volatility and illiquidity in markets that currently rely on LIBOR to determine interest rates. LIBOR’s deterioration may adversely affect the liquidity and/or market value of securities that use LIBOR as a benchmark interest rate.
The ICE Benchmark Administration Limited, the administrator of LIBOR, ceased publishing certain LIBOR maturities, including some U.S. LIBOR maturities, on December 31, 2021, and is expected to cease publishing the remaining and most liquid U.S. LIBOR maturities on June 30, 2023. It is expected that market participants have or will transition to the use of alternative reference or benchmark rates prior to the applicable LIBOR publication cessation date. Additionally, although regulators have encouraged the development and adoption of alternative rates such as the Secured Overnight Financing Rate ("SOFR"), the future utilization of LIBOR or of any particular replacement rate remains uncertain.
The impact on the transition away from LIBOR referenced financial instruments remains uncertain. It is expected that market participants will adopt alternative rates such as SOFR or otherwise amend such financial instruments to include fallback provisions and other measures that contemplate the discontinuation of LIBOR. Uncertainty and risk remain regarding the willingness and ability of issuers and lenders to include alternative rates and revised provisions in new and existing contracts or instruments. To facilitate the transition of legacy derivatives contracts referencing LIBOR, the International Swaps and Derivatives Association, Inc. launched a protocol to incorporate fallback provisions. There are obstacles to converting certain longer term securities to a new benchmark or benchmarks and the effectiveness of one versus multiple alternative reference rates has not been determined. Certain proposed replacement rates, such as SOFR, are materially different from LIBOR, and will require changes to the applicable spreads. Furthermore, the risks associated with the conversion from LIBOR may be exacerbated if an orderly transition is not completed in a timely manner.
14. New accounting pronouncement
In March 2020, the Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU), ASU 2020-04, which provides optional, temporary relief with respect to the financial reporting of contracts subject to certain types of modifications due to the planned discontinuation of the LIBOR and other IBOR-based reference rates as of the end of 2021. The temporary relief provided by ASU 2020-04 is effective for certain reference rate-related contract modifications that occur during the period March 12, 2020 through December 31, 2022. Management expects that the adoption of the guidance will not have a material impact to the financial statements.
15. Coronavirus (COVID-19) pandemic
The COVID-19 disease has resulted in significant disruptions to global business activity. A widespread health crisis such as a global pandemic could cause substantial market volatility, exchange-trading suspensions, and closures, which may lead to less liquidity in certain instruments, industries, sectors or the markets generally, and may ultimately affect fund performance.
Report of Independent Registered Public Accounting Firm
To the Board of Trustees of John Hancock Funds II and Shareholders of Capital Appreciation Fund, Capital Appreciation Value Fund, Core Bond Fund, Health Sciences Fund, High Yield Fund, International Strategic Equity Allocation Fund, Mid Value Fund, Science & Technology Fund and U.S. Sector Rotation Fund
Opinions on the Financial Statements
We have audited the accompanying statements of assets and liabilities, including the portfolios’ investments, of Capital Appreciation Fund, Capital Appreciation Value Fund, Core Bond Fund, Health Sciences Fund , High Yield Fund, International Strategic Equity Allocation Fund, Mid Value Fund, Science & Technology Fund and U.S. Sector Rotation Fund (nine of the funds constituting John Hancock Funds II, hereafter collectively referred to as the "Funds") as of August 31, 2022, the related statements of operations for the year ended August 31, 2022, the statements of changes in net assets for each of the two years in the period ended August 31, 2022, including the related notes, and the financial highlights for each of the five years in the period ended August 31, 2022 (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of each of the Funds as of August 31, 2022, the results of each of their operations for the year ended August 31, 2022, the changes in each of their net assets for each of the two years in the period ended August 31, 2022 and each of the financial highlights for each of the five years in the period ended August 31, 2022, in conformity with accounting principles generally accepted in the United States of America.
Basis for Opinions
These financial statements are the responsibility of the Funds’ management. Our responsibility is to express an opinion on the Funds’ financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Funds in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.
We conducted our audits of these financial statements in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement, whether due to error or fraud.
Our audits included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. Our procedures included confirmation of securities owned as of August 31, 2022 by correspondence with the custodians, transfer agents, agent banks and brokers; when replies were not received from agent banks and brokers, we performed other auditing procedures. We believe that our audits provide a reasonable basis for our opinions.
/s/ PricewaterhouseCoopers LLP
Boston, Massachusetts
October 21, 2022
We have served as the auditor of one or more investment companies in the John Hancock group of funds since 1988.
John Hancock Funds II
Federal tax information
(Unaudited)
For federal income tax purposes, the following information is furnished with respect to the distributions of the funds, if any, paid during its taxable year ended August 31, 2022.
Dividend Received Deduction The funds report the maximum amount allowable of their net taxable income as eligible for the corporate dividends-received deduction.
Qualified Dividend Income The funds report the maximum amount allowable of their net taxable income as qualified dividend income as provided in the Jobs and Growth Tax Relief Reconciliation Act of 2003.
Each fund reports the maximum amount allowable as Section 163(j) Interest Dividends.
Each fund reports the maximum amount allowable of its Section 199A dividends as defined in Proposed Treasury Regulation §1.199A-3(d).
Foreign Tax Credit The following table details the income derived from foreign sources and the amounts the funds intend to pass through as foreign tax credits for the year ended August 31, 2022:
| Fund | Foreign sourced income | Foreign tax credit |
| International Strategic Equity Allocation Fund | $100,270,726 | $8,488,703 |
Long Term Capital Gains The funds below paid the following amounts in capital gain dividends.
| Fund | Long term capital gains |
| Capital Appreciation Fund | $529,721,403 |
| Capital Appreciation Value Fund | 195,959,272 |
| Health Sciences Fund | 54,988,580 |
| International Strategic Equity Allocation Fund | 47,114,219 |
| Mid Value Fund | 95,823,792 |
| Science & Technology Fund | 82,828,472 |
| U.S. Sector Rotation Fund | 216,457,167 |
Eligible shareholders will be mailed a 2022 Form 1099-DIV in early 2023. This will reflect the tax character of all distributions paid in calendar year 2022.
Please consult a tax advisor regarding the tax consequences of your investment in the fund.
John Hancock Funds II
Evaluation of Advisory and Subadvisory Agreements by the Board of Trustees
This section describes the evaluation by the Board of Trustees (the “Board”) of John Hancock Funds II (the “Trust”) of the Advisory Agreement (the “Advisory Agreement”) with John Hancock Investment Management LLC (the “Advisor”, formerly known as “John Hancock Advisers, LLC”) and each of the Subadvisory Agreements (collectively, the “Subadvisory Agreements”) with respect to each of the portfolios of the Trust included in this report (the “Funds”). The Advisory Agreement and Subadvisory Agreements are collectively referred to as the Agreements. Prior to the June 21-23, 2022 videoconference1 meeting at which the Agreements were approved, the Board also discussed and considered information regarding the proposed continuation of the Agreements at a videoconference meeting held on May 24-25, 2022. The Trustees who are not “interested persons” of the Trust as defined by the Investment Company Act of 1940, as amended (the “1940 Act”) (the “Independent Trustees”) also met separately to evaluate and discuss the information presented, including with counsel to the Independent Trustees and a third-party consulting firm.
Approval of Advisory and Subadvisory Agreements
At videoconference meetings held on June 22-24, 2021, the Board, including the Trustees who are not parties to any Agreement or considered to be interested persons of the Trust under the 1940 Act, reapproved for an annual period, the continuation of the Advisory Agreement between the Trust and the Advisor and the applicable Subadvisory Agreements between the Advisor and the investment subadvisors (each, “Subadvisor” and collectively, the “Subadvisors”) with respect to each of the Funds identified below in Appendix A.
In considering the Advisory Agreement and the Subadvisory Agreements with respect to each Fund, the Board received in advance of the meetings a variety of materials relating to each Fund, the Advisor and each Subadvisor, including comparative performance, fee and expense information for peer groups of similar funds prepared by an independent third-party provider of fund data; performance information for the Funds’ benchmark indices; and, with respect to each Subadvisor, comparative performance information for comparably managed accounts, as applicable; and other information provided by the Advisor and the Subadvisors regarding the nature, extent and quality of services provided by the Advisor and the Subadvisors under their respective Agreements, as well as information regarding the Advisor’s revenues and costs of providing services to the Funds and any compensation paid to affiliates of the Advisor. At the meetings at which the renewal of the Advisory Agreement and Subadvisory Agreements are considered, particular focus is given to information concerning Fund performance, comparability of fees and total expenses, and profitability. However, the Board notes that the evaluation process with respect to the Advisor and the Subadvisors is an ongoing one. In this regard, the Board also took into account discussions with management and information provided to the Board (including its various committees) at prior meetings with respect to the services provided by the Advisor and the Subadvisors to the Funds, including quarterly performance reports prepared by management containing reviews of investment results, and prior presentations from the Subadvisors with respect to the Funds they manage. The information received and considered by the Board in connection with the May and June meetings and throughout the year was both written and oral. The Board noted the affiliation of certain of the Subadvisors with the Advisor, noting any potential conflicts of interest. The Board also considered the nature, quality, and extent of the services, if any, to be provided to the Funds by the Advisor’s affiliates, including distribution services. The Board considered the Advisory Agreement and the Subadvisory Agreement separately in the course of its review. In doing so, the Board noted the respective roles of the Advisor and Subadvisor in providing services to the Funds. In addition, although the Board approved the renewal of the Agreements for all the Funds at the June meeting, the Board considered each Fund separately.
Throughout the process, the Board asked questions of and requested additional information from management. The Board is assisted by counsel for the Trust and the Independent Trustees are also separately assisted by independent legal counsel throughout the process. The Independent Trustees also received a memorandum from their independent legal counsel discussing the legal standards for their consideration of the proposed continuation of the Agreements and discussed the proposed continuation of the Agreements in private sessions with their independent legal counsel at which no representatives of management were present.
Approval of Advisory Agreement
In approving the Advisory Agreement with respect to each Fund, the Board, including the Independent Trustees, considered a variety of factors, including those discussed below. The Board also considered other factors (including conditions and trends prevailing generally in the economy, the securities markets and the industry) and did not treat any single factor as determinative, and each Trustee may have attributed different weights to different factors. The Board’s conclusions may be based in part on its consideration of the advisory and subadvisory arrangements in prior years and on the Board’s ongoing regular review of Fund performance and operations throughout the year.
Nature, extent, and quality of services. Among the information received by the Board from the Advisor relating to the nature, extent and quality of services provided to the Funds, the Board reviewed information provided by the Advisor relating to its operations and personnel, descriptions of its organizational and management structure, and information regarding the Advisor's compliance and regulatory history, including its Form ADV. The Board also noted that on a regular basis it receives and reviews information from the Trust’s Chief Compliance Officer (“CCO”) regarding the Funds’ compliance policies and procedures established pursuant to Rule 38a-1 under the 1940 Act. The Board observed that the scope of services provided by the Advisor, and of the undertakings required of the Advisor in connection with those services, including maintaining and monitoring its own and the fund’s compliance programs, risk management programs, liquidity management programs and cybersecurity programs, had expanded over time as a result of regulatory, market and other developments. The Board considered that the Advisor is responsible for the management of the day-to-day operations of the Funds, including but not limited to, general supervision of and coordination of the services provided by the Subadvisors, and is also responsible for monitoring and reviewing the activities of the Subadvisors and other third-party service providers. The Board also considered the significant risk assumed by the Advisor in connection with the services provided to the Funds including entrepreneurial risk in sponsoring new Funds and ongoing risks including investment, operational, enterprise, litigation, regulatory and compliance risks with respect to all Funds.
In considering the nature, extent and quality of the services provided by the Advisor, the Trustees also took into account their knowledge of the Advisor’s management and the quality of the performance of the Advisor’s duties, through Board meetings, discussions and reports during the preceding year and through each Trustee’s experience as a Trustee of the Trust and of the other trusts in the complex (John Hancock Fund Complex).
In the course of their deliberations regarding the Advisory Agreement, the Board considered, among other things:
(a) the skills and competency with which the Advisor has in the past managed the Trust’s affairs and its subadvisory relationships, the Advisor’s oversight and monitoring of the Subadvisors’ investment performance and compliance programs, such as the Subadvisors’ compliance with fund policies and objectives, review of brokerage matters including with respect to trade allocation and best execution, and the Advisor’s timeliness in responding to performance issues;
1On June 19, 2020, as a result of health and safety measures put in place to combat the global COVID-19 pandemic, the Securities and Exchange Commission issued an exemptive order (the “Order”) pursuant to Sections 6(c) and 38(a) of the Investment Company Act of 1940, as amended (the “1940 Act”), that temporarily exempts registered investment management companies from the in-person voting requirements under the 1940 Act, subject to certain requirements, including that votes taken pursuant to the Order are ratified at the next in-person meeting. The Board determined that reliance on the Order was necessary or appropriate due to the circumstances related to current or potential effects of COVID-19 and therefore, the Board’s May and June meetings were held via videoconference in reliance on the Order. This exemptive order supersedes, in part, a similar, earlier exemptive order issued by the SEC.
John Hancock Funds II
Evaluation of Advisory and Subadvisory Agreements by the Board of Trustees
(b) the background, qualifications and skills of the Advisor’s personnel;
(c) the Advisor’s compliance policies and procedures and its responsiveness to regulatory changes and fund industry developments;
(d) the Advisor’s administrative capabilities, including its ability to supervise the other service providers for the Funds, as well as the Advisor’s oversight of any securities lending activity, its monitoring of class action litigation and collection of class action settlements on behalf of the fund, and bringing loss recovery actions on behalf of the Fund;
(e) the financial condition of the Advisor and whether it has the financial wherewithal to provide a high level and quality of services to the Funds;
(f) the Advisor’s initiative intended to improve various aspects of the Trust’s operations and investor experience with the Funds; and
(g) the Advisor’s reputation and experience in serving as an investment adviser to the Trust and the benefit to shareholders of investing in funds that are part of a family of funds offering a variety of investments.
The Board concluded that the Advisor may reasonably be expected to continue to provide a high quality of services under the Advisory Agreement with respect to the Funds.
Investment performance. In considering each Fund’s performance, the Board noted that it reviews at its regularly scheduled meetings information about the Funds’ performance results. In connection with the consideration of the Advisory Agreement, the Board:
(a) reviewed information prepared by management regarding the Funds’ performance;
(b) considered the comparative performance of each Fund’s respective benchmark index;
(c) considered the performance of comparable funds, if any, as included in the report prepared by an independent third-party provider of fund data; and
(d) took into account the Advisor’s analysis of each Fund’s performance and its plans and recommendations regarding the Trust’s subadvisory arrangements generally and with respect to particular Funds.
The Board noted that while it found the data provided by the independent third-party generally useful it recognized its limitations, including in particular that the data may vary depending on the end date selected and that the results of the performance comparisons may vary depending on the selection of the peer group. The Board reviewed Fund performance against each Fund’s respective benchmark and peer group median and also concluded that the performance of each of the Funds has generally been in line with or generally outperformed the historical performance of comparable funds and/or each Fund’s respective benchmark, with certain exceptions noted in Appendix A. In such cases, the Board concluded that such performance is being monitored and reasonably addressed, where appropriate.
Fees and expenses. The Board reviewed comparative information prepared by an independent third-party provider of fund data including, among other data, each Fund’s contractual and net management fees (and subadvisory fees, to the extent available) and total expenses as compared to similarly situated investment companies deemed to be comparable to the Fund in light of the nature, extent and quality of the management and advisory and subadvisory services provided by the Advisor and the Subadvisor. The Board considered each Fund’s ranking within a smaller group of peer funds chosen by the independent third-party provider, as well as the Fund’s ranking within broader groups of funds. In comparing each Fund’s contractual and net management fees to that of comparable funds, the Board noted that such fees include both advisory and administrative costs.
The Board took into account management’s discussion of the Funds’ expenses. The Board took into account management’s discussion with respect to the overall management fee and the fees of the Subadvisor, including the amount of the advisory fee retained by the Advisor after payment of the subadvisory
fee, in each case in light of the services rendered for those amounts and the risks undertaken by the Advisor. The Board also noted that the Advisor pays the subadvisory fees of the Funds, and that such fees are negotiated at arm’s length with respect to the unaffiliated Subadvisors. The Board also took into account that management had agreed to implement an overall fee waiver across the complex, which is discussed further below. The Board also noted management’s discussion of the Funds’ expenses, as well as any actions taken over the past several years to reduce the Funds’ operating expenses. The Board reviewed information provided by the Advisor concerning investment advisory fee charged by the Advisor or one of its advisory affiliates to other clients (including other funds in the complex) having similar investment mandates, if any. The Board considered any differences between the Advisor’s and each Subadvisor’s services to a Fund and the services they provide to other comparable clients or funds. The Board concluded that the advisory fee paid with respect to each of the Funds is reasonable in light of the nature, extent and quality of the services provided to the Funds under the Advisory Agreement.
Profitability/Indirect benefits. In considering the costs of the services to be provided and the profits to be realized by the Advisor and its affiliates (including the Subadvisors that are affiliated with the Advisor) from the Advisor’s relationship with the Trust, the Board:
(a) reviewed financial information of the Advisor;
(b) reviewed and considered information presented by the Advisor regarding the net profitability to the Advisor and its affiliates, of each Fund;
(c) received and reviewed profitability information with respect to the John Hancock fund complex as a whole and with respect to each Fund;
(d) received information with respect to the Advisor’s allocation methodologies used in preparing the profitability data and considered that the Advisor hired an independent third-party consultant to provide an analysis of the Advisor’s allocation methodologies;
(e) considered that the John Hancock insurance companies that are affiliates of the Advisor, as shareholders of the Trust directly or through their separate accounts, receive certain tax credits or deductions relating to foreign taxes paid and dividends received by certain Funds of the Trust and noted that these tax benefits, which are not available to participants in qualified retirement plans under applicable income tax law, are reflected in the profitability analysis reviewed by the Board;
(f) considered that the Advisor also provides administrative services to the Funds on a cost basis pursuant to an administrative services agreement;
(g) noted that certain of the Funds’ Subadvisors are affiliates of the Advisor
(h) noted that affiliates of the Advisor provide transfer agency services and distribution services to the fund, and that the fund’s distributor also receives Rule 12b-1 payments to support distribution of the Fund;
(i) noted that the Advisor also derives reputational and other indirect benefits from providing advisory services to the Funds;
(j) noted that the subadvisory fees for the Funds are paid by the Advisor and are negotiated at arms’ length with respect to the unaffiliated Subadvisors;
(k) with respect to each Fund of Funds, the Board noted that the advisory fee is in addition to the fees received by the Advisor and its affiliates with regard to the underlying portfolios in which each Fund of Funds may invest;
(l) considered the Advisor’s ongoing costs and expenditures necessary to improve services, meet new regulatory and compliance requirements, and adapt to other challenges impacting the fund industry; and
(m) considered that the Advisor should be entitled to earn a reasonable level of profits in exchange for the level of services it provides to each Fund and the risks that it assumes as Advisor, including entrepreneurial, operational, reputational, litigation and regulatory risk.
John Hancock Funds II
Evaluation of Advisory and Subadvisory Agreements by the Board of Trustees
Based upon its review, the Board concluded that the level of profitability, if any, of the Advisor and its affiliates (including any Subadvisors that are affiliated with the Advisor), from their relationship with each Fund was reasonable and not excessive.
Economies of scale. In considering the extent to which a Fund may realize any economies of scale and whether fee levels reflect these economies of scale for the benefit of Fund shareholders, the Board:
(a) considered that the Advisor has contractually agreed to waive a portion of its management fee for certain funds of the John Hancock Fund Complex, including the fund (the participating portfolios) or otherwise reimburse the expenses of the participating portfolios (the reimbursement). This waiver is based upon aggregate net assets of all the participating portfolios. The amount of the reimbursement is calculated daily and allocated among all the participating portfolios in proportion to the daily net assets of each fund. The Multi-Index Lifestyle Funds benefit from the waiver through their investment, to the extent that they invest in participating portfolios and;
(b) reviewed the Trust’s advisory fee structure and the incorporation therein of any subadvisory fee breakpoints in the advisory fees charged and concluded that (i) most of the Funds’ fee structures contain breakpoints at the subadvisory fee level and that such breakpoints are reflected as breakpoints in the advisory fees for Funds and (ii) although economies of scale cannot be measured with precision, these arrangements permit shareholders of Funds with advisory fee breakpoints to benefit from economies of scale if those Funds grow. The Board also took into account management’s discussion of the Funds’ advisory fee structure, including with respect to those Funds that did not currently have breakpoints; and
(c) considered the effect of the Funds’ growth in size on their performance and fees. The Board also noted that if the Funds’ assets increase over time, the Funds may realize other economies of scale.Approval of Subadvisory Agreement
In making its determination with respect to approval of the Subadvisory Agreement, the Board reviewed:
| (1) | information relating to each Subadvisor’s business, including current subadvisory services to the Trust (and other funds in the John Hancock family of funds); |
| (2) | the historical and current performance of each Fund and comparative performance information relating to the Fund’s benchmark and comparable funds; |
| (3) | the subadvisory fee for each Fund, and comparative fee information, where available, prepared by an independent third party provider of fund data; and |
| (4) | information relating to the nature and scope of any material relationships and their significance to the Trust’s Advisor and unaffiliated Subadvisors. |
Nature, extent, and quality of services. With respect to the services provided by each of the Subadvisors with respect to each Fund, the Board received information provided to the Board by each Subadvisor, including each Subadvisor’s Form ADV, as well as took into account information presented throughout the past year. The Board considered each Subadvisor’s current level of staffing and its overall resources, as well as received information relating to a Subadvisor’s compensation program. The Board reviewed each Subadvisor’s history and investment experience, as well as information regarding the qualifications, background and responsibilities of each Subadvisor’s investment and compliance personnel who provide services to the Funds. The Board also considered, among other things, each Subadvisor’s compliance program and any disciplinary history. The Board also considered each Subadvisor’s risk assessment and monitoring process. The Board reviewed each Subadvisor’s regulatory history, including whether it was involved in any regulatory actions or investigations as well as material litigation, and any settlements and amelioratory actions undertaken, as appropriate. The Board noted that the
Advisor conducts regular, periodic reviews of each Subadvisor and its operations, including regarding investment processes and organizational and staffing matters. The Board also noted that the CCO and his staff conduct regular, periodic compliance reviews with each of the Subadvisors and present reports to the Independent Trustees regarding the same, which includes evaluating the regulatory compliance systems of the Subadvisors and procedures reasonably designed by them to assure compliance with the federal securities laws. The Board also took into account the financial condition of each Subadvisor.
The Board considered each Subadvisor’s investment process and philosophy. The Board took into account that each Subadvisor’s responsibilities include the development and maintenance of an investment program for the applicable Fund that is consistent with the Fund’s investment objective, the selection of investment securities and the placement of orders for the purchase and sale of such securities, as well as the implementation of compliance controls related to performance of these services. The Board also received information with respect to each Subadvisor’s brokerage policies and practices, including with respect to best execution and soft dollars.
Subadvisor compensation. In considering the cost of services to be provided by each Subadvisor and the profitability to that Subadvisor of its relationship with the Fund, the Board noted that the fees under the Subadvisory Agreements are paid by the Advisor and not the Funds. The Board also received information and took into account any other potential conflicts of interest the Advisor might have in connection with the Subadvisory Agreements.
The Board also relied on the ability of the Advisor to negotiate each Subadvisory Agreement with Subadvisors that are not affiliated with the Advisor and the fees thereunder at arm’s length. As a result, the costs of the services to be provided and the profits to be realized by unaffiliated Subadvisors from their relationship with the Trust were not a material factor in the Board’s consideration of the Subadvisory Agreements.
The Board also received information regarding the nature and scope (including their significance to the Advisor and its affiliates and to unaffiliated Subadvisors) of any material relationships with respect to the unaffiliated Subadvisors, which include arrangements in which unaffiliated Subadvisors or their affiliates provide advisory, distribution or management services in connection with financial products sponsored by the Trust’s Advisor or its affiliates, and may include shares of the Trust, other registered investment companies, a 529 education savings plan, managed separate accounts and exempt group annuity contracts sold to qualified plans.
In addition, the Board considered other potential indirect benefits that the Subadvisors and their affiliates may receive from a Subadvisor’s relationship with the Fund, such as the opportunity to provide advisory services to additional funds in the John Hancock fund complex and reputational benefits.
Subadvisory fees. The Board considered that the Fund pays an advisory fee to the Advisor and that, in turn, the Advisor pays subadvisory fees to each Subadvisor. As noted above, the Board also considered, if available, each Fund’s subadvisory fees as compared to similarly situated investment companies deemed to be comparable to the Fund as included in the report prepared by the independent third party provider of fund data, to the extent applicable. The Board noted that the limited size of the Lipper peer group was not sufficient for comparative purposes. The Board also took into account the subadvisory fees paid by the Advisor to a Subadvisor with respect to the Funds to fees charged by each Fund’s Subadvisor to manage other subadvised portfolios and portfolios not subject to regulation under the 1940 Act, as applicable.
Subadvisor performance. As noted above, the Board considered each Fund’s performance as compared to the Fund’s respective peer group median and the benchmark index and noted that the Board reviews information about the Fund’s performance results at its regularly scheduled meetings. The Board noted the Advisor’s expertise and resources in monitoring the performance,
John Hancock Funds II
Evaluation of Advisory and Subadvisory Agreements by the Board of Trustees
investment style, and risk-adjusted performance of each Subadvisor. The Board was mindful of the Advisor’s focus on each Subadvisor’s performance. The Board also noted each Subadvisor’s long-term performance record for similar accounts, as applicable.
The Board’s decision to approve the Subadvisory Agreement was based on a number of determinations, including the following:
| (1) | each Subadvisor has extensive experience and demonstrated skills as a manager; |
| (2) | although not without variation, the performance of each Fund managed by a Subadvisor generally has been in line with or outperformed the historical performance of comparable funds and/or each Fund’s respective benchmark, with the exceptions noted in Appendix A (with respect to such exceptions, the Board concluded that performance is being monitored and reasonably addressed); |
| (3) | the subadvisory fees are reasonable in relation to the level and quality of services being provided under the Subadvisory Agreements; and |
| (4) | the subadvisory fees are paid by the Advisor and not the Funds, and that the fee structure for the Funds contains breakpoints, breakpoints are reflected as breakpoints in the advisory fees for the Funds in order to permit shareholders to benefit from economies of scale if those Funds grow. |
Additional information relating to each Fund’s fees and expenses and performance that the Board considered in approving the Advisory Agreement and Subadvisory Agreements for a particular Fund is set forth in Appendix A.
***
Based on the Board’s evaluation of all factors that the Board deemed to be material, including those factors described above, the Board, including the Independent Trustees, concluded that renewal of the Advisory Agreement and each of the Subadvisory Agreements with respect to each Fund would be in the best interest of each of the respective Funds and its shareholders. Accordingly, the Board, and the Independent Trustees voting separately, approved the Advisory Agreement and Subadvisory Agreements with respect to each Fund for an additional one-year period.
John Hancock Funds II
Appendix A
| Portfolio (subadvisors) | Performance of fund, as of 12.31.2021 | Fees and expenses | Comments |
| JHF II Capital Appreciation Fund(Jennison Associates LLC) | Benchmark Index — The fund outperformed for the five- and ten-year periods and underperformed for the one- and three-year periods.Lipper Category — The fund outperformed the median for the three-, five- and ten-year periods and underperformed for the one-year period. | Subadvisory fee comparative data not provided due to limited size of Lipper peer group for this purpose.Net management fees for this fund are higher than the peer group median.Total expenses for this fund are lower than the peer group median. | The Board took into account management’s discussion of the fund’s performance, including the favorable performance relative to the benchmark index for the five- and ten-year periods and to the peer group median for the three-, five- and ten-year periods.The Board took into account management’s discussion of the fund’s expenses. |
| JHF II Capital Appreciation Value Fund(T. Rowe Price Associates, Inc.) | Benchmark Index — The fund underperformed for the one-, three-, five- and ten-year periods.Lipper Category — The fund outperformed the median for the one-, three-, five- and ten-year periods. | Subadvisory fee comparative data not provided due to limited size of Lipper peer group for this purpose.Net management fees for this fund are higher than the peer group median.Total expenses for this fund are higher than the peer group median. | The Board took into account management’s discussion of the fund’s performance, including the favorable performance relative to the peer group median for the one-, three-, five- and ten-year periods. The Board took into account management’s discussion of the factors that contributed to the fund’s performance for the benchmark index for the one-, three-, five- and ten-year periods including the impact of past and current market conditions on the fund’s strategy and management’s outlook for the fund.The Board concluded that the fund's performance is being monitored and reasonably addressed, where appropriate.The Board took into account management’s discussion of the fund’s expenses. |
John Hancock Funds II
Appendix A
| Portfolio (subadvisors) | Performance of fund, as of 12.31.2021 | Fees and expenses | Comments |
| JHF II Core Bond Fund(Allspring Global Investments) | Benchmark Index — The fund outperformed for the ten-year period and underperformed for the one-, three- and five-year periods.Lipper Category — The fund outperformed the median ten-year period and underperformed the median for the one-, three- and five-year periods. | Subadvisory fee comparative data not provided due to limited size of Lipper peer group for this purpose.Net management fees for this fund are higher than the peer group median.Total expenses for this fund are lower than the peer group median. | The Board took into account management’s discussion of the fund’s performance, including the favorable performance relative to the benchmark index for the ten-year period and peer group median for the ten-year period. The Board took into account management’s discussion of the factors that contributed to the fund’s performance for the benchmark index and peer group median for the one-, three- and five-year periods including the impact of past and current market conditions on the fund’s strategy and management’s outlook for the fund. The Board also noted that the fund’s longer term performance in part reflects that of the previous subadvisor.The Board concluded that the fund's performance is being monitored and reasonably addressed, where appropriate.The Board took into account management’s discussion of the fund’s expenses. |
| JHF II Health Sciences Fund(T. Rowe Price Associates, Inc.) | Benchmark Index — The fund outperformed for the one-, three-, five- and ten-year periods.Lipper Category — The fund outperformed the median for the one-, three-, five- and ten-year periods. | Subadvisor fee comparative data not provided due to limited size of Lipper peer group for this purpose.Net management fees for this fund are higher than the peer group median.Total expenses for this fund are equal to the peer group median. | The Board took into account management’s discussion of the fund’s performance,including the favorable performance relative to the benchmark index and peer group median for the one-, three-, five- and ten-year periods.The Board took into account management’s discussion of the fund’s expenses. |
John Hancock Funds II
Appendix A
| Portfolio (subadvisors) | Performance of fund, as of 12.31.2021 | Fees and expenses | Comments |
| JHF II High Yield Fund(Western Asset Management) | Benchmark Index — The fund outperformed for the one- and three-year periods and underperformed for the five- and ten-year periods.Lipper Category — The fund outperformed the median for the one-, three-, five- and ten-year periods. | Subadvisory fee comparative data not provided due to limited size of Lipper peer group for this purpose.Net management fees for this fund are higher than the peer group median.Total expenses for this fund are lower than the peer group median. | The Board took into account management’s discussion of the fund’s performance, including the favorable performance relative to the benchmark index for the one- and three-year periods and relative to its peer group median for the one-, three-, five-, and ten-year periods.The Board took into account management’s discussion of the factors that contributed to the fund’s performance relative to the benchmark index for the five- and ten-year periods including the impact of past and current market conditions on the fund’s strategy and management’s outlook for the fund.The Board took into account management’s discussion of the fund’s expenses. |
| JHF II International Strategic Equity Allocation Fund(Manulife Investment Management (United States)) | Benchmark Index — The fund underperformed for the one-, three- and five-year periods.Lipper Category — The fund underperformed the median for the one-, three- and five-year periods. | Subadvisor fee comparative data not provided due to limited size of Lipper peer group for this purpose.Net management fees for this fund are lower than the peer group median.Total expenses for this fund are lower than the peer group median. | The Board took into account management’s discussion of the factors that contributed to the fund’s performance relative to the benchmark index and peer group median for the one-, three- and five-year periods including the impact of past and current market conditions on the fund’s strategy and management’s outlook for the fund.The Board concluded that the fund's performance is being monitored and reasonably addressed, where appropriate. |
John Hancock Funds II
Appendix A
| Portfolio (subadvisors) | Performance of fund, as of 12.31.2021 | Fees and expenses | Comments |
| JHF II Mid Value Fund(T. Rowe Price Associates, Inc.) | Benchmark Index — The fund underperformed for the one-, three-, five- and ten-year periods.Lipper Category — The fund outperformed the median for the ten-year period and underperformed for the one-, three- and five-year periods. | Subadvisor fee comparative data not provided due to limited size of Lipper peer group for this purpose.Net management fees for this fund are higher than the peer group median.Total expenses for this fund are higher than the peer group median. | The Board took into account management’s discussion of the fund’s performance,including the favorable performance relative to the peer group median for the ten-year period.The Board took into account management’s discussion of the factors that contributed to the fund’s performance for the benchmark index for the one-, three-, five- and ten-year periods and relative to its peer group median for one-, three- and five-year periods.The Board concluded that the fund's performance is being monitored and reasonably addressed, where appropriate.The Board took into account management’s discussion of the fund’s expenses. |
| JHF II Science & Technology Fund(T. Rowe Price Associates, Inc.) | Benchmark Index — The fund outperformed for the ten-year period and underperformed for the one-, three- and five-year periods.Lipper Category — The fund outperformed the median for the ten-year period and underperformed for the one-, three- and five-year periods. | Subadvisor fee comparative data not provided due to limited size of Lipper peer group for this purpose.Net management fees for this fund are equal to the peer group median.Total expenses for this fund are higher than the peer group median. | The Board took into account management’s discussion of the fund’s performance, including the favorable performance relative to the benchmark index and to the peer group median for the ten-year period.The Board took into account management’s discussion of the factors that contributed to the fund’s performance for the benchmark index and peer group median for the one-, three- and five-year periods.The Board concluded that the fund's performance is being monitored and reasonably addressed, where appropriate.The Board took into account management’s discussion of the fund’s expenses. |
John Hancock Funds II
Appendix A
| Portfolio (subadvisors) | Performance of fund, as of 12.31.2021 | Fees and expenses | Comments |
| JHF II U.S. Sector Rotation Fund(Manulife Investment Management (United States)) | Benchmark Index — The fund underperformed for the one-, three- and five-year periods.Lipper Category — The fund outperformed the median for the one-, three- and five-year periods. | Subadvisor fee comparative data not provided due to limited size of Lipper peer group for this purpose.Net management fees for this fund are lower than the peer group median.Total expenses for this fund are lower than the peer group median. | The Board took into account management’s discussion of the fund’s performance, including the favorable performance relative to the peer group median for the one-, three- and five-year periods.The Board took into account management’s discussion of the factors that contributed to the fund’s performance for the benchmark index for the one-, three- and five-year periods.The Board concluded that the fund's performance is being monitored and reasonably addressed, where appropriate.The Board took into account management’s discussion of the fund’s expenses. |
John Hancock Funds II
STATEMENT REGARDING LIQUIDITY RISK MANAGEMENT
Operation of the Liquidity Risk Management Program
This section describes the operation and effectiveness of the Liquidity Risk Management Program (LRMP) established in accordance with Rule 22e-4 under the Investment Company Act of 1940, as amended (the Liquidity Rule). The Board of Trustees (the Board) of each Fund in the John Hancock Group of Funds (each a Fund and collectively, the Funds) that is subject to the requirements of the Liquidity Rule has appointed John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (together, the Advisor) to serve as Administrator of the LRMP with respect to each of the Funds, including John Hancock Capital Appreciation Fund, John Hancock Capital Appreciation Value Fund, John Hancock Core Bond Fund, John Hancock Health Sciences Fund, John Hancock High Yield Fund, John Hancock International Strategic Equity Allocation Fund, John Hancock Mid Value Fund, John Hancock Science & Technology Fund, and John Hancock U.S. Sector Rotation Fund subject to the oversight of the Board. In order to provide a mechanism and process to perform the functions necessary to administer the LRMP, the Advisor established the Liquidity Risk Management Committee (the Committee). Each Fund’s subadvisor, which is one of Allspring Global Investments, LLC, Jennison Associates LLC, Manulife Investment Management (US) LLC, T. Rowe Price Associates, Inc. or Western Asset Management Company, LLC (each a Subadvisor), executes the day-to-day investment management and security-level activities of the Fund it manages in accordance with the requirements of the LRMP, subject to the supervision of the Advisor and the Board.
The Committee receives monthly reports and holds quarterly meetings to: (1) review the day-to-day operations of the LRMP; (2) monitor current market and liquidity conditions; (3) review and approve month-end liquidity classifications; (4) monitor illiquid investment levels against the 15% limit on illiquid investments and established Highly Liquid Investment Minimums (HLIMs), if any; (5) review quarterly testing and determinations, as applicable; (6) review redemption-in-kind activities; and (7) review other LRMP related material. The Advisor also conducts daily, monthly, quarterly, and annual quantitative and qualitative assessments of each subadvisor to a Fund that is subject to the requirements of the Liquidity Rule and is a part of the LRMP to monitor investment performance issues, risks and trends. In addition, the Advisor may conduct ad-hoc reviews and meetings with subadvisors as issues and trends are identified, including potential liquidity issues. The Committee also monitors global events, such as the ongoing COVID-19 Coronavirus pandemic and amendments to the Office of Foreign Assets Control sanctioned company lists, that could impact the markets and liquidity of portfolio investments and their classifications.
The Committee provided the Board at a meeting held by videoconference on March 22-24, 2022 with a written report which addressed the Committee’s assessment of the adequacy and effectiveness of the implementation and operation of the LRMP and any material changes to the LRMP. The report, which covered the period January 1, 2021 through December 31, 2021, included an assessment of important aspects of the LRMP including, but not limited to: (1) Security-level liquidity classifications; (2) Fund-level liquidity risk assessment; (3) Reasonably Anticipated Trade Size (RATS) determination; (4) HLIM determination; (5) Compliance with the 15% limit on illiquid investments; (6) Operation of the Fund’s Redemption-In-Kind Procedures; and (7) Review of liquidity management facilities.
Additionally, the report included a discussion of notable changes and enhancements to the LRMP implemented during 2021 and key initiatives for 2022.
The report also covered material liquidity matters which occurred or were reported during this period applicable to the Fund, if any, and the Committee’s actions to address such matters.
The report stated, in relevant part, that during the period covered by the report:
| • | The Fund’s investment strategy remained appropriate for an open-end fund structure; |
| • | The Fund was able to meet requests for redemption without significant dilution of remaining shareholders’ interests in the Fund; |
| • | The Fund did not experience any breaches of the 15% limit on illiquid investments that would require reporting to the Securities and Exchange Commission; |
| • | The Fund continued to qualify as a Primarily Highly Liquid Fund under the Liquidity Rule and therefore is not required to establish a HLIM; and |
| • | The Chief Compliance Officer’s office, as a part of their annual Rule 38a-1 assessment of the Fund’s policies and procedures, reviewed the LRMP’s control environment and deemed it to be operating effectively and in compliance with the Board approved procedures. |
Adequacy and Effectiveness
Based on the review and assessment conducted by the Committee, the Committee has determined that the LRMP and its controls have been implemented and are operating in a manner that is adequately and effectively managing the liquidity risk of the Fund.
John Hancock Funds II
Trustees and officers information
This chart provides information about the Trustees and Officers of John Hancock Funds II who oversee your John Hancock funds. Officers elected by the Trustees manage the day-to-day operations of the funds and execute policies formulated by the Trustees.
| INDEPENDENT TRUSTEES | | |
Name, year of birth
Position(s) held with Trust
Principal occupation(s) and other
directorships during past 5 years | Trustee
of the
Trust
since1 | Number of John
Hancock funds
overseen by
Trustee |
| Hassell H. McClellan, Born: 1945 | 2005 | 192 |
| Trustee and Chairperson of the Board | | |
Director/Trustee, Virtus Funds (2008-2020); Director, The Barnes Group (2010-2021); Associate Professor, The Wallace E. Carroll School of Management, Boston College (retired 2013). Trustee (since 2005) and Chairperson of the Board (since 2017) of various trusts within the John Hancock Fund Complex.
|
| James R. Boyle, Born: 1959 | 2015 | 192 |
| Trustee | | |
Foresters Financial, Chief Executive Officer (2018–2022) and board member (2017–2022). Manulife Financial and John Hancock, more than 20 years, retiring in 2012 as Chief Executive Officer, John Hancock and Senior Executive Vice President, Manulife Financial. Trustee of various trusts within the John Hancock Fund Complex (2005–2014 and since 2015).
|
| Peter S. Burgess,2 Born: 1942 | 2005 | 192 |
| Trustee | | |
Consultant (financial, accounting, and auditing matters) (since 1999); Certified Public Accountant; Partner, Arthur Andersen (independent public accounting firm) (prior to 1999); Director, Lincoln Educational Services Corporation (2004-2021); Director, Symetra Financial Corporation (2010–2016); Director, PMA Capital Corporation (2004–2010). Trustee of various trusts within the John Hancock Fund Complex (since 2005).
|
| William H. Cunningham,2 Born: 1944 | 2012 | 192 |
| Trustee | | |
Professor, University of Texas, Austin, Texas (since 1971); former Chancellor, University of Texas System and former President of the University of Texas, Austin, Texas; Director (since 2006), Lincoln National Corporation (insurance); Director, Southwest Airlines (since 2000). Trustee of various trusts within the John Hancock Fund Complex (since 1986).
|
| Noni L. Ellison,* Born: 1971 | 2022 | 192 |
| Trustee | | |
Senior Vice President, General Counsel & Corporate Secretary, Tractor Supply Company (rural lifestyle retailer) (since 2021); General Counsel, Chief Compliance Officer & Corporate Secretary, Carestream Dental, L.L.C.(2017–2021); Associate General Counsel & Assistant Corporate Secretary, W.W. Grainger, Inc. (global industrial supplier) (2015–2017); Board Member, Goodwill of North Georgia, 2018 (FY2019)–2020 (FY2021); Board Member, Howard University School of Law Board of Visitors (since 2021); Board Member, University of Chicago Law School Board of Visitors (since 2016); Board member, Children’s Healthcare of Atlanta Foundation Board (2021–present).
|
| Grace K. Fey, Born: 1946 | 2008 | 192 |
| Trustee | | |
Chief Executive Officer, Grace Fey Advisors (since 2007); Director and Executive Vice President, Frontier Capital Management Company (1988–2007); Director, Fiduciary Trust (since 2009). Trustee of various trusts within the John Hancock Fund Complex (since 2008).
|
| Dean C. Garfield,* Born: 1968 | 2022 | 192 |
| Trustee | | |
Vice President, Netflix, Inc. (since 2019); President & Chief Executive Officer, Information Technology Industry Council (2009–2019); NYU School of Law Board of Trustees (since 2021); Member, U.S. Department of Transportation, Advisory Committee on Automation (since 2021); President of the United States Trade Advisory Council (2010–2018); Board Member, College for Every Student (2017–2021); Board Member, The Seed School of Washington, D.C. (2012–2017).
|
| Deborah C. Jackson, Born: 1952 | 2012 | 192 |
| Trustee | | |
President, Cambridge College, Cambridge, Massachusetts (since 2011); Board of Directors, Amwell Corporation (since 2020); Board of Directors, Massachusetts Women’s Forum (2018-2020); Board of Directors, National Association of Corporate Directors/New England (2015-2020); Chief Executive Officer, American Red Cross of Massachusetts Bay (2002–2011); Board of Directors of Eastern Bank Corporation (since 2001); Board of Directors of Eastern Bank Charitable Foundation (since 2001); Board of Directors of Boston Stock Exchange (2002–2008); Board of Directors of Harvard Pilgrim Healthcare (health benefits company) (2007–2011). Trustee of various trusts within the John Hancock Fund Complex (since 2008).
|
| Patricia Lizarraga,2,* Born: 1966 | 2022 | 192 |
| Trustee | | |
Founder, Chief Executive Officer, Hypatia Capital Group (advisory and asset management company) (since 2007); Independent Director, Audit Committee Chair, and Risk Committee Member, Credicorp, Ltd. (since 2017); Independent Director, Audit Committee Chair, Banco De Credito Del Peru (since 2017); Trustee, Museum of Art of Lima (since 2009).
|
John Hancock Funds II
Trustees and officers information
| INDEPENDENT TRUSTEES (continued) | | |
Name, year of birth
Position(s) held with Trust
Principal occupation(s) and other
directorships during past 5 years | Trustee
of the
Trust
since1 | Number of John
Hancock funds
overseen by
Trustee |
| Steven R. Pruchansky, Born: 1944 | 2012 | 192 |
| Trustee and Vice Chairperson of the Board | | |
Managing Director, Pru Realty (since 2017); Chairman and Chief Executive Officer, Greenscapes of Southwest Florida, Inc. (2014-2020); Director and President, Greenscapes of Southwest Florida, Inc. (until 2000); Member, Board of Advisors, First American Bank (until 2010); Managing Director, Jon James, LLC (real estate) (since 2000); Partner, Right Funding, LLC (2014-2017); Director, First Signature Bank & Trust Company (until 1991); Director, Mast Realty Trust (until 1994); President, Maxwell Building Corp. (until 1991). Trustee (since 1992), Chairperson of the Board (2011–2012), and Vice Chairperson of the Board (since 2012) of various trusts within the John Hancock Fund Complex.
|
| Frances G. Rathke,2 Born: 1960 | 2020 | 192 |
| Trustee | | |
Director, Audit Committee Chair, Oatly Group AB (plant-based drink company) (since 2021); Director, Audit Committee Chair and Compensation Committee Member, Green Mountain Power Corporation (since 2016); Director, Treasurer and Finance & Audit Committee Chair, Flynn Center for Performing Arts (since 2016); Director and Audit Committee Chair, Planet Fitness (since 2016); Chief Financial Officer and Treasurer, Keurig Green Mountain, Inc. (2003-retired 2015). Trustee of various trusts within the John Hancock Fund Complex (since 2020).
|
| Gregory A. Russo, Born: 1949 | 2012 | 192 |
| Trustee | | |
| Director and Audit Committee Chairman (2012-2020), and Member, Audit Committee and Finance Committee (2011-2020), NCH Healthcare System, Inc. (holding company for multi-entity healthcare system); Director and Member (2012-2018), and Finance Committee Chairman (2014-2018), The Moorings, Inc. (nonprofit continuing care community); Global Vice Chairman, Risk & Regulatory Matters, KPMG LLP (KPMG) (2002–2006); Vice Chairman, Industrial Markets, KPMG (1998–2002). Trustee of various trusts within the John Hancock Fund Complex (since 2008). |
| NON-INDEPENDENT TRUSTEES3 | | |
Name, year of birth
Position(s) held with Trust
Principal occupation(s) and other
directorships during past 5 years | Trustee
of the
Trust
since1 | Number of John
Hancock funds
overseen by
Trustee |
| Andrew G. Arnott, Born: 1971 | 2017 | 192 |
| President and Non-Independent Trustee | | |
Head of Wealth and Asset Management, United States and Europe, for John Hancock and Manulife (since 2018); Director and Executive Vice President, John Hancock Investment Management LLC (since 2005, including prior positions); Director and Executive Vice President, John Hancock Variable Trust Advisers LLC (since 2006, including prior positions); President, John Hancock Investment Management Distributors LLC (since 2004, including prior positions); President of various trusts within the John Hancock Fund Complex (since 2007, including prior positions). Trustee of various trusts within the John Hancock Fund Complex (since 2017).
|
| Marianne Harrison, Born: 1963 | 2018 | 192 |
| Non-Independent Trustee | | |
President and CEO, John Hancock (since 2017); President and CEO, Manulife Canadian Division (2013–2017); Member, Board of Directors, Boston Medical Center (since 2021); Member, Board of Directors, CAE Inc. (since 2019); Member, Board of Directors, MA Competitive Partnership Board (since 2018); Member, Board of Directors, American Council of Life Insurers (ACLI) (since 2018); Member, Board of Directors, Communitech, an industry-led innovation center that fosters technology companies in Canada (2017-2019); Member, Board of Directors, Manulife Assurance Canada (2015-2017); Board Member, St. Mary’s General Hospital Foundation (2014-2017); Member, Board of Directors, Manulife Bank of Canada (2013- 2017); Member, Standing Committee of the Canadian Life & Health Assurance Association (2013-2017); Member, Board of Directors, John Hancock USA, John Hancock Life & Health, John Hancock New York (2012–2013). Trustee of various trusts within the John Hancock Fund Complex (since 2018).
|
| Paul Lorentz,† Born: 1968 | 2022 | 192 |
| Non-Independent Trustee | | |
| Global Head, Manulife Wealth and Asset Management (since 2017); General Manager, Manulife, Individual Wealth Management and Insurance (2013–2017); President, Manulife Investments (2010–2016). |
| PRINCIPAL OFFICERS WHO ARE NOT TRUSTEES | |
Name, year of birth
Position(s) held with Trust
Principal occupation(s)
during past 5 years | Current
Position(s)
with the
Trust
since |
| Charles A. Rizzo, Born: 1957 | 2007 |
| Chief Financial Officer | |
Vice President, John Hancock Financial Services (since 2008); Senior Vice President, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2008); Chief Financial Officer of various trusts within the John Hancock Fund Complex (since 2007).
|
John Hancock Funds II
Trustees and officers information
| PRINCIPAL OFFICERS WHO ARE NOT TRUSTEES (continued) | |
Name, year of birth
Position(s) held with Trust
Principal occupation(s)
during past 5 years | Current
Position(s)
with the
Trust
since |
| Salvatore Schiavone, Born: 1965 | 2009 |
| Treasurer | |
Assistant Vice President, John Hancock Financial Services (since 2007); Vice President, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2007); Treasurer of various trusts within the John Hancock Fund Complex (since 2007, including prior positions).
|
| Christopher (Kit) Sechler, Born: 1973 | 2018 |
| Secretary and Chief Legal Officer | |
Vice President and Deputy Chief Counsel, John Hancock Investment Management (since 2015); Assistant Vice President and Senior Counsel (2009–2015), John Hancock Investment Management; Assistant Secretary of John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2009); Chief Legal Officer and Secretary of various trusts within the John Hancock Fund Complex (since 2009, including prior positions).
|
| Trevor Swanberg, Born: 1979 | 2020 |
| Chief Compliance Officer | |
| Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (since 2020); Deputy Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (2019–2020); Assistant Chief Compliance Officer, John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (2016–2019); Vice President, State Street Global Advisors (2015–2016); Chief Compliance Officer of various trusts within the John Hancock Fund Complex (since 2016, including prior positions). |
| 1 | Each Trustee holds office until his or her successor is elected and qualified, or until the Trustee’s death, retirement, resignation, or removal. Mr. Boyle has served as Trustee at various times prior to the date listed in the table. |
| 2 | Member of the Audit Committee. |
| 3 | The Trustee is a Non-Independent Trustee due to current or former positions with the Advisor and certain affiliates. |
| * | Elected to serve as Independent Trustee effective as of September 9, 2022. |
| † | Elected to serve as Non-Independent Trustee effective as of September 9, 2022. |
The business address for all Trustees and Officers is 200 Berkeley Street, Boston, Massachusetts 02116-5023.
The Statement of Additional Information of the fund includes additional information about members of the Board of Trustees of the Trust and is available without charge, upon request, by calling 800-225-5291.
John Hancock Funds II
For more information
The Statement of Additional Information, a separate document with supplemental information not contained in the prospectus, includes additional information on the Board of Trustees and can be obtained without charge by calling 800-344-1029 or on the Securities and Exchange Commission (SEC) website at www.sec.gov.
PROXY VOTING POLICY A description of the trust’s proxy voting policies and procedures and information regarding how the trust voted proxies relating to portfolio securities during the most recent twelve-month period ended June 30 is available without charge, upon request, by calling 800-344-1029 or on the SEC website at www.sec.gov.
QUARTERLY PORTFOLIO DISCLOSURE The Trust’s complete schedule of portfolio holdings as of the end of the third month of every fiscal quarter are filed with the SEC on Form N-PORT within 60 days of the end of the fiscal quarter. N-PORT filings are available on our website and the SEC’s website, www.sec.gov.
The report is certified under the Sarbanes-Oxley Act, which requires mutual funds and other public companies to affirm that, to the best of their knowledge, the information in their financial reports is fairly and accurately stated in all material respects.
Trustees
Hassell H. McClellan, Chairperson
Steven R. Pruchansky, Vice Chairperson
Andrew G. Arnott†
James R. Boyle
Peter S. Burgess*
William H. Cunningham*
Grace K. Fey
Noni L. Ellison^
Dean C. Garfield^
Marianne Harrison†
Deborah C. Jackson
Patricia Lizarraga*,^
Paul Lorentz‡
Frances G. Rathke*
Gregory A. Russo
Investment advisor
John Hancock Investment
Management LLC
Principal distributor
John Hancock Investment
Management Distributors LLC
Custodians
Citibank, N.A.
State Street Bank and Trust Company
Legal counsel
K&L Gates LLP
Independent registered public accounting firm
PricewaterhouseCoopers LLP
Officers
Andrew G. Arnott, President
Charles A. Rizzo, Chief Financial Officer
Salvatore Schiavone, Treasurer
Christopher (Kit) Sechler, Secretary and Chief Legal Officer
Trevor Swanberg, Chief Compliance Officer
† Non-Independent Trustee
* Member of the Audit Committee
^ Elected to serve as Independent Trustee effective as of September 9, 2022.
‡ Elected to serve as Non-Independent Trustee effective as of September 9, 2022.
John Hancock Investment Management Distributors LLC, Member FINRA, SIPC 200 Berkeley Street, Boston, MA 02116, jhinvestments.com
Manulife, Manulife Investment Management, Stylized M Design, and Manulife Investment Management & Stylized M Design are trademarks of The Manufacturers Life Insurance Company and are used by it, and by its affiliates under license.
NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.
ITEM 2. CODE OF ETHICS.
As of the end of the period, August 31, 2022, the registrant has adopted a code of ethics, as defined in Item 2 of Form N-CSR, that applies to its Chief Executive Officer, Chief Financial Officer and Treasurer (respectively, the principal executive officer, the principal financial officer and the principal accounting officer, the "Covered Officers"). A copy of the code of ethics is filed as an exhibit to this Form N-CSR.
ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT.
Frances G. Rathke is the audit committee financial expert, effective March 25, 2022, and is "independent", pursuant to general instructions on Form N-CSR Item 3.
ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES.
(a) Audit fees:
The aggregate fees billed for professional services rendered by the principal accountant for the audits of the registrant's annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements amounted to the following for the fiscal years ended August 31, 2022 and 2021. These fees were billed to the registrant and were approved by the registrant's audit committee.
2022: $620,716
2021: $674,385
(b) Audit related fees:
Audit-related fees for assurance and related services by the principal accountant are billed to the registrant or to the registrant's investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the adviser ("control affiliates") that provides ongoing services to the registrant. The nature of the services provided was affiliated service provider internal controls reviews and reviews related to supplemental regulatory filings. Amounts billed to the registrant for the fiscal years ended August 31, 2022 and 2021 were as follows:
2022: $31,945
2021: $5,914
Amounts billed to control affiliates were $129,201 and $116,000 for the fiscal years ended August 31, 2022 and 2021, respectively.
(c) Tax fees:
The aggregate fees billed for professional services rendered by the principal accountant for tax compliance, tax advice and tax planning ("tax fees") amounted to the following for the fiscal years ended August 31, 2022 and 2021. The nature of the services comprising the tax fees was the review of the registrant's tax returns and tax distribution requirements. These fees were billed to the registrant and were approved by the registrant's audit committee.
2022: $1,250
2021: $0
(d) All other fees:
The nature of the services comprising all other fees is advisory services provided to the investment manager. Other fees amounted to the following for the fiscal years ended August 31, 2022 and 2021:
2022: $6,255
2021: $1,269
(e)(1) Audit Committee Pre-Approval Policies and Procedures:
The Trust's Audit Committee must pre-approve all audit and non-audit services provided by the independent registered public accounting firm (the "Auditor") relating to the operations or financial reporting of the funds. Prior to the commencement of any audit or non-audit services to a fund, the Audit Committee reviews the services to determine whether they are appropriate and permissible under applicable law.
The Trust's Audit Committee has adopted policies and procedures to, among other purposes, provide a framework for the Committee's consideration of audit-related and non-audit services by the Auditor. The policies and procedures require that any audit-related and non-audit service provided by the Auditor and any non-audit service provided by the Auditor to a fund service provider that relates directly to the operations and financial reporting of a fund are subject to approval by the Audit Committee before such service is provided. Audit-related services provided by the Auditor that are expected to exceed $25,000 per instance/per fund are subject to specific pre-approval by the Audit Committee. Tax services provided by the Auditor that are expected to exceed $30,000 per instance/per fund are subject to specific pre-approval by the Audit Committee.
All audit services, as well as the audit-related and non-audit services that are expected to exceed the amounts stated above, must be approved in advance of provision of the service by formal resolution of the Audit Committee. At the regularly scheduled Audit Committee meetings, the Committee reviews a report summarizing the services, including fees, provided by the Auditor.
(e)(2) Services approved pursuant to paragraph (c) (7) (i) (C) of Rule 2-01 of Regulation S-X:
Audit-Related Fees, Tax Fees and All Other Fees:
There were no amounts that were approved by the Audit Committee pursuant to the de minimis exception under Rule 2-01 of Regulation S-X.
(f)According to the registrant's principal accountant, for the fiscal period ended August 31, 2022, the percentage of hours spent on the audit of the registrant's financial statements for the most recent fiscal year that were attributed to work performed by persons who were not full-time, permanent employees of principal accountant was less than 50%.
(g)The aggregate non-audit fees billed by the registrant's principal accountant for non-audit services rendered to the registrant and rendered to the registrant's control affiliates were $796,351 for the fiscal year ended August 31, 2022 and $1,067,637 for the fiscal year ended August 31, 2021.
(h)The audit committee of the registrant has considered the non-audit services provided by the registrant's principal accountant to the control affiliates and has determined that the services that were not pre-approved are compatible with maintaining the principal accountant's independence.
ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS
The registrant has a separately-designated standing audit committee comprised of independent trustees. The members of the audit committee are as follows:
Frances G. Rathke – Chairperson, effective March 25, 2022
Peter S. Burgess
William H. Cunningham
ITEM 6. SCHEDULE OF INVESTMENTS.
(a)Not Applicable
(b)Not Applicable
ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not Applicable
ITEM 8. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not Applicable
ITEM 9. PURCHASE OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANIES AND AFFILIATED PURCHASERS.
Not Applicable
ITEM 10. SUBMISSION OF MATTERS TO VOTE OF SECURITY HOLDERS.
The registrant has adopted procedures by which shareholders may recommend nominees to the registrant's Board of Trustees. A copy of the procedures is filed as an exhibit to this Form
N-CSR. See attached "John Hancock Funds – Nominating, Governance and Administration Committee Charter".
ITEM 11. CONTROLS AND PROCEDURES.
(a)Based upon their evaluation of the registrant's disclosure controls and procedures as conducted within
90 days of the filing date of this Form N-CSR, the registrant's principal executive officer and principal financial officer have concluded that those disclosure controls and procedures provide reasonable assurance that the material information required to be disclosed by the registrant on this report is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's rules and forms.
(b)There were no changes in the registrant's internal control over financial reporting that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting.
ITEM 12. DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
Not applicable
ITEM 13. EXHIBITS.
(a)(1) Code of Ethics for Covered Officers is attached.
(a)(2) Separate certifications for the registrant's principal executive officer and principal financial officer, as required by Section 302 of the Sarbanes-Oxley Act of 2002 and Rule 30a-2(a) under the Investment Company Act of 1940, are attached.
(b)Separate certifications for the registrant's principal executive officer and principal financial officer, as required by 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, and Rule 30a-2(b) under the Investment Company Act of 1940, are attached. The certifications furnished pursuant to this paragraph are not deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, or otherwise subject to the liability of that section. Such certificationsare not deemed to be incorporated by reference into any filing under the Securities Act of 1933 or the Securities Exchange Act of 1934, except to the extent that the Registrant specifically incorporates them by reference.
(c)(1) Submission of Matters to a Vote of Security Holders is attached. See attached "John Hancock Funds – Nominating and Governance Committee Charter".
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
JOHN HANCOCK FUNDS II
/s/ Andrew Arnott
_______________________
Andrew Arnott
President
Date: October 21, 2022
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
/s/ Andrew Arnott
_______________________
Andrew Arnott
President
Date: October 21, 2022
/s/ Charles A. Rizzo
_______________________
Charles A. Rizzo
Chief Financial Officer
Date: October 21, 2022
