John Hancock
Fundamental Equity Income Fund
Quarterly portfolio holdings 6/30/2023
| Fund’s investments |
As of 6-30-23 (unaudited)
| Shares | Value | ||||
| Common stocks 95.4% | $6,597,345 | ||||
| (Cost $6,117,843) | |||||
| Communication services 6.9% | 474,918 | ||||
| Interactive media and services 3.1% | |||||
| Alphabet, Inc., Class A (A) | 1,100 | 131,670 | |||
| Meta Platforms, Inc., Class A (A) | 279 | 80,067 | |||
| Media 3.8% | |||||
| Comcast Corp., Class A | 6,334 | 263,181 | |||
| Consumer discretionary 6.0% | 411,448 | ||||
| Broadline retail 2.6% | |||||
| Amazon.com, Inc. (A) | 725 | 94,511 | |||
| eBay, Inc. | 1,861 | 83,168 | |||
| Hotels, restaurants and leisure 1.0% | |||||
| Vail Resorts, Inc. | 278 | 69,989 | |||
| Household durables 2.4% | |||||
| Lennar Corp., A Shares | 1,307 | 163,780 | |||
| Consumer staples 8.0% | 553,293 | ||||
| Beverages 1.1% | |||||
| Anheuser-Busch InBev SA/NV, ADR | 1,327 | 75,267 | |||
| Consumer staples distribution and retail 3.0% | |||||
| Walmart, Inc. | 1,326 | 208,421 | |||
| Food products 2.6% | |||||
| Danone SA, ADR | 14,848 | 182,482 | |||
| Household products 1.3% | |||||
| Reynolds Consumer Products, Inc. | 3,084 | 87,123 | |||
| Energy 7.2% | 500,622 | ||||
| Oil, gas and consumable fuels 7.2% | |||||
| Cheniere Energy, Inc. | 798 | 121,583 | |||
| Kinder Morgan, Inc. | 12,020 | 206,984 | |||
| Suncor Energy, Inc. | 4,888 | 143,316 | |||
| Valero Energy Corp. | 245 | 28,739 | |||
| Financials 23.4% | 1,622,012 | ||||
| Banks 8.9% | |||||
| Bank of America Corp. | 5,405 | 155,069 | |||
| Citigroup, Inc. | 4,506 | 207,456 | |||
| First Hawaiian, Inc. | 5,205 | 93,742 | |||
| JPMorgan Chase & Co. | 490 | 71,266 | |||
| Wells Fargo & Company | 2,052 | 87,579 | |||
| Capital markets 12.7% | |||||
| KKR & Company, Inc. | 4,616 | 258,496 | |||
| Morgan Stanley | 2,007 | 171,398 | |||
| Nasdaq, Inc. | 1,757 | 87,586 | |||
| S&P Global, Inc. | 232 | 93,006 | |||
| State Street Corp. | 2,007 | 146,872 | |||
| The Goldman Sachs Group, Inc. | 372 | 119,985 | |||
| Consumer finance 1.0% | |||||
| American Express Company | 407 | 70,899 | |||
| Financial services 0.8% | |||||
| Visa, Inc., Class A | 247 | 58,658 | |||
| 2 | JOHN HANCOCK FUNDAMENTAL EQUITY INCOME FUND | QUARTERLY REPORT | SEE NOTES TO FUND’S INVESTMENTS |
| Shares | Value | ||||
| Health care 14.0% | $971,169 | ||||
| Biotechnology 4.1% | |||||
| Amgen, Inc. | 273 | 60,611 | |||
| Gilead Sciences, Inc. | 1,888 | 145,508 | |||
| Moderna, Inc. (A) | 657 | 79,826 | |||
| Health care providers and services 2.1% | |||||
| Elevance Health, Inc. | 331 | 147,060 | |||
| Life sciences tools and services 1.0% | |||||
| Thermo Fisher Scientific, Inc. | 132 | 68,871 | |||
| Pharmaceuticals 6.8% | |||||
| Bristol-Myers Squibb Company | 953 | 60,944 | |||
| GSK PLC, ADR | 6,146 | 219,043 | |||
| Merck & Company, Inc. | 425 | 49,041 | |||
| Novartis AG, ADR | 1,390 | 140,265 | |||
| Industrials 5.6% | 387,389 | ||||
| Aerospace and defense 0.8% | |||||
| Raytheon Technologies Corp. | 559 | 54,760 | |||
| Air freight and logistics 1.8% | |||||
| United Parcel Service, Inc., Class B | 698 | 125,117 | |||
| Ground transportation 1.7% | |||||
| Union Pacific Corp. | 570 | 116,633 | |||
| Machinery 1.3% | |||||
| Parker-Hannifin Corp. | 233 | 90,879 | |||
| Information technology 11.7% | 809,466 | ||||
| Semiconductors and semiconductor equipment 5.4% | |||||
| Analog Devices, Inc. | 943 | 183,706 | |||
| Broadcom, Inc. | 89 | 77,201 | |||
| Texas Instruments, Inc. | 609 | 109,632 | |||
| Software 6.3% | |||||
| Adobe, Inc. (A) | 116 | 56,723 | |||
| Microsoft Corp. | 517 | 176,059 | |||
| Oracle Corp. | 1,731 | 206,145 | |||
| Materials 2.7% | 185,680 | ||||
| Chemicals 2.7% | |||||
| LyondellBasell Industries NV, Class A | 2,022 | 185,680 | |||
| Real estate 9.9% | 681,348 | ||||
| Specialized REITs 9.9% | |||||
| American Tower Corp. | 1,118 | 216,825 | |||
| Crown Castle, Inc. | 2,948 | 335,895 | |||
| Lamar Advertising Company, Class A | 1,296 | 128,628 | |||
| Yield (%) | Shares | Value | |||
| Short-term investments 4.9% | $339,198 | ||||
| (Cost $339,213) | |||||
| Short-term funds 4.9% | 339,198 | ||||
| John Hancock Collateral Trust (B) | 5.1773(C) | 33,937 | 339,198 | ||
| Total investments (Cost $6,457,056) 100.3% | $6,936,543 | ||||
| Other assets and liabilities, net (0.3%) | (18,306) | ||||
| Total net assets 100.0% | $6,918,237 | ||||
| SEE NOTES TO FUND’S INVESTMENTS | QUARTERLY REPORT | JOHN HANCOCK FUNDAMENTAL EQUITY INCOME FUND | 3 |
| The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund. | |
| Security Abbreviations and Legend | |
| ADR | American Depositary Receipt |
| (A) | Non-income producing security. |
| (B) | Investment is an affiliate of the fund, the advisor and/or subadvisor. |
| (C) | The rate shown is the annualized seven-day yield as of 6-30-23. |
The fund had the following country composition as a percentage of net assets on 6-30-23:
| United States | 89.0% |
| United Kingdom | 3.2% |
| France | 2.6% |
| Canada | 2.1% |
| Switzerland | 2.0% |
| Belgium | 1.1% |
| TOTAL | 100.0% |
| 4 | JOHN HANCOCK FUNDAMENTAL EQUITY INCOME FUND | QUARTERLY REPORT | SEE NOTES TO FUND’S INVESTMENTS |
| Notes to Fund’s investments (unaudited) |
Security valuation. Investments are stated at value as of the scheduled close of regular trading on the New York Stock Exchange (NYSE), normally at 4:00 P.M., Eastern Time. In case of emergency or other disruption resulting in the NYSE not opening for trading or the NYSE closing at a time other than the regularly scheduled close, the net asset value (NAV) may be determined as of the regularly scheduled close of the NYSE pursuant to the Advisor’s Valuation Policies and Procedures.
In order to value the securities, the fund uses the following valuation techniques: Equity securities, including exchange-traded or closed-end funds, are typically valued at the last sale price or official closing price on the exchange or principal market where the security trades. In the event there were no sales during the day or closing prices are not available, the securities are valued using the last available bid price. Investments by the fund in open-end mutual funds, including John Hancock Collateral Trust (JHCT), are valued at their respective NAVs each business day.
In certain instances, the Pricing Committee of the Advisor may determine to value equity securities using prices obtained from another exchange or market if trading on the exchange or market on which prices are typically obtained did not open for trading as scheduled, or if trading closed earlier than scheduled, and trading occurred as normal on another exchange or market.
Other portfolio securities and assets, for which reliable market quotations are not readily available, are valued at fair value as determined in good faith by the Pricing Committee following procedures established by the Advisor and adopted by the Board of Trustees. The frequency with which these fair valuation procedures are used cannot be predicted and fair value of securities may differ significantly from the value that would have been used had a ready market for such securities existed.
The fund uses a three tier hierarchy to prioritize the pricing assumptions, referred to as inputs, used in valuation techniques to measure fair value. Level 1 includes securities valued using quoted prices in active markets for identical securities, including registered investment companies. Level 2 includes securities valued using other significant observable inputs. Observable inputs may include quoted prices for similar securities, interest rates, prepayment speeds and credit risk. Prices for securities valued using these inputs are received from independent pricing vendors and brokers and are based on an evaluation of the inputs described. Level 3 includes securities valued using significant unobservable inputs when market prices are not readily available or reliable, including the Advisor’s assumptions in determining the fair value of investments. Factors used in determining value may include market or issuer specific events or trends, changes in interest rates and credit quality. The inputs or methodology used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. Changes in valuation techniques and related inputs may result in transfers into or out of an assigned level within the disclosure hierarchy.
As of June 30, 2023, all investments are categorized as Level 1 under the hierarchy described above.
Investment in affiliated underlying funds. The fund may invest in affiliated underlying funds that are managed by the Advisor and its affiliates. Information regarding the fund’s fiscal year to date purchases and sales of the affiliated underlying funds as well as income and capital gains earned by the fund, if any, is as follows:
| Dividends and distributions | |||||||||
| Affiliate | Ending share amount | Beginning value | Cost of purchases | Proceeds from shares sold | Realized gain (loss) | Change in unrealized appreciation (depreciation) | Income distributions received | Capital gain distributions received | Ending value |
| John Hancock Collateral Trust | 33,937 | $270,001 | $179,095 | $(109,843) | $4 | $(59) | $3,448 | — | $339,198 |
For additional information on the fund’s significant accounting policies and risks, please refer to the fund’s most recent semiannual or annual shareholder report and prospectus.
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