Fund’s investments |
Shares | Value | ||||
Common stocks 88.5% (56.9% of Total investments) | $651,081,936 | ||||
(Cost $545,038,048) | |||||
Communication services 7.2% | 52,862,403 | ||||
Diversified telecommunication services 7.2% | |||||
AT&T, Inc. (A) | 1,301,849 | 23,029,709 | |||
Verizon Communications, Inc. | 704,432 | 29,832,694 | |||
Consumer staples 1.3% | 9,811,800 | ||||
Tobacco 1.3% | |||||
Philip Morris International, Inc. (A) | 108,000 | 9,811,800 | |||
Energy 12.5% | 91,845,008 | ||||
Oil, gas and consumable fuels 12.5% | |||||
BP PLC, ADR | 845,450 | 29,675,295 | |||
DT Midstream, Inc. | 90,000 | 4,832,100 | |||
Enbridge, Inc. | 347,106 | 12,322,263 | |||
Kinder Morgan, Inc. | 1,445,000 | 24,449,400 | |||
ONEOK, Inc. (A) | 215,000 | 14,673,750 | |||
The Williams Companies, Inc. | 170,000 | 5,892,200 | |||
Financials 2.8% | 20,357,193 | ||||
Banks 2.8% | |||||
Columbia Banking System, Inc. (A) | 378,333 | 7,627,193 | |||
Huntington Bancshares, Inc. (A)(B) | 1,000,000 | 12,730,000 | |||
Real estate 1.8% | 13,665,805 | ||||
Specialized REITs 1.8% | |||||
Crown Castle, Inc. | 126,243 | 13,665,805 | |||
Utilities 62.9% | 462,539,727 | ||||
Electric utilities 33.3% | |||||
Alliant Energy Corp. (A) | 360,000 | 17,517,600 | |||
American Electric Power Company, Inc. (A)(B) | 375,000 | 29,302,500 | |||
Duke Energy Corp. (A)(B) | 290,000 | 27,790,700 | |||
Entergy Corp. (A)(B) | 218,000 | 21,747,680 | |||
Evergy, Inc. (A) | 295,000 | 14,977,150 | |||
Eversource Energy (A)(B) | 318,227 | 17,254,268 | |||
Exelon Corp. (A) | 280,000 | 9,746,800 | |||
FirstEnergy Corp. (A) | 510,000 | 18,706,800 | |||
NextEra Energy, Inc. (A) | 145,373 | 8,523,219 | |||
OGE Energy Corp. (A) | 610,000 | 20,276,400 | |||
Pinnacle West Capital Corp. | 50,000 | 3,445,000 | |||
PPL Corp. (A)(B) | 775,000 | 20,305,000 | |||
The Southern Company (A)(B) | 324,925 | 22,588,786 | |||
Xcel Energy, Inc. | 207,000 | 12,393,090 | |||
Gas utilities 3.2% | |||||
Spire, Inc. | 235,000 | 13,340,950 | |||
UGI Corp. | 465,000 | 10,295,100 | |||
Independent power and renewable electricity producers 2.3% | |||||
NextEra Energy Partners LP | 125,000 | 3,731,250 | |||
The AES Corp. (A) | 800,000 | 13,344,000 | |||
Multi-utilities 24.1% | |||||
Algonquin Power & Utilities Corp. | 492,150 | 10,413,894 | |||
Ameren Corp. (A) | 310,000 | 21,566,700 |
2 | JOHN HANCOCK TAX-ADVANTAGED DIVIDEND INCOME FUND | QUARTERLY REPORT | SEE NOTES TO FUND’S INVESTMENTS |
Shares | Value | ||||
Utilities (continued) | |||||
Multi-utilities (continued) | |||||
Black Hills Corp. (A) | 394,775 | $20,433,554 | |||
CenterPoint Energy, Inc. (A)(B) | 795,923 | 22,238,089 | |||
Dominion Energy, Inc. (A) | 389,814 | 17,822,296 | |||
DTE Energy Company (A) | 180,000 | 18,975,600 | |||
National Grid PLC, ADR (A)(B) | 201,583 | 13,612,900 | |||
NiSource, Inc. (A) | 875,000 | 22,723,750 | |||
Public Service Enterprise Group, Inc. (A)(B) | 275,000 | 15,947,250 | |||
Sempra | 188,924 | 13,519,401 | |||
Preferred securities 29.4% (18.9% of Total investments) | $215,744,535 | ||||
(Cost $229,449,534) | |||||
Communication services 1.4% | 9,733,050 | ||||
Media 0.3% | |||||
Paramount Global, 5.750% | 113,800 | 2,099,610 | |||
Wireless telecommunication services 1.1% | |||||
Telephone & Data Systems, Inc., 6.625% (A) | 410,400 | 7,633,440 | |||
Financials 18.7% | 137,452,271 | ||||
Banks 9.6% | |||||
Bank of America Corp., 7.250% | 7,000 | 8,524,950 | |||
Citigroup, Inc., 9.632% (3 month CME Term SOFR + 4.302%) (A)(C) | 122,073 | 3,182,443 | |||
Fifth Third Bancorp, 6.000% (A) | 400,000 | 9,944,000 | |||
First Citizens BancShares, Inc., 5.375% (A) | 199,800 | 4,283,712 | |||
Huntington Bancshares, Inc., 6.875% (6.875% to 4-15-28, then 5 Year CMT + 2.704%) (A) | 320,150 | 7,786,048 | |||
JPMorgan Chase & Co., 6.000% (A) | 111,775 | 2,806,670 | |||
KeyCorp, 5.650% (A) | 116,975 | 2,490,398 | |||
KeyCorp, 6.200% (6.200% to 12-15-27, then 5 Year CMT + 3.132%) (A) | 164,050 | 3,666,518 | |||
Regions Financial Corp., 4.450% (A) | 332,500 | 6,008,275 | |||
Synovus Financial Corp., 8.920% (3 month CME Term SOFR + 3.614%) (A)(C) | 188,000 | 4,626,680 | |||
Truist Financial Corp., 4.750% (A) | 185,700 | 3,996,264 | |||
Wells Fargo & Company, 7.500% | 11,000 | 13,310,000 | |||
Capital markets 2.1% | |||||
Carlyle Finance LLC, 4.625% (A) | 65,274 | 1,304,827 | |||
Morgan Stanley, 6.375% (A) | 335,000 | 8,405,150 | |||
Morgan Stanley, 7.125% (A) | 144,887 | 3,678,681 | |||
State Street Corp., 5.350% | 46,625 | 1,128,791 | |||
State Street Corp., 5.900% (5.900% to 3-15-24, then 9.008% thereafter) | 25,000 | 629,500 | |||
Financial services 2.1% | |||||
Apollo Global Management, Inc., 7.625% (7.625% to 12-15-28, then 5 Year CMT + 3.226%) | 534,150 | 14,470,124 | |||
Jackson Financial, Inc., 8.000% (8.000% to 3-30-28, then 5 Year CMT + 3.728%) | 40,000 | 1,080,800 | |||
KKR Group Finance Company IX LLC, 4.625% (A) | 4,150 | 82,170 | |||
Insurance 4.9% | |||||
American Equity Investment Life Holding Company, 6.625% (6.625% to 9-1-25, then 5 Year CMT + 6.297%) (A) | 164,125 | 4,134,309 | |||
Athene Holding, Ltd., 6.350% (6.350% to 6-30-29, then 3 month LIBOR + 4.253%) | 355,787 | 8,460,615 | |||
Brighthouse Financial, Inc., 6.600% (A) | 100,000 | 2,483,000 | |||
Enstar Group, Ltd., 7.000% (7.000% to 9-1-28, then 3 month LIBOR + 4.015%) (A) | 149,425 | 3,801,372 | |||
Lincoln National Corp., 9.000% (A) | 408,300 | 11,518,143 | |||
The Allstate Corp., 7.375% (A) | 207,525 | 5,648,831 | |||
Utilities 9.3% | 68,559,214 | ||||
Electric utilities 6.1% | |||||
Duke Energy Corp., 5.750% (A) | 200,000 | 5,014,000 | |||
NextEra Energy, Inc., 6.926% | 337,550 | 12,560,236 |
SEE NOTES TO FUND’S INVESTMENTS | QUARTERLY REPORT | JOHN HANCOCK TAX-ADVANTAGED DIVIDEND INCOME FUND | 3 |
Shares | Value | ||||
Utilities (continued) | |||||
Electric utilities (continued) | |||||
SCE Trust II, 5.100% (A) | 591,973 | $12,040,731 | |||
SCE Trust VI, 5.000% (A) | 308,101 | 6,155,858 | |||
SCE Trust VII, 7.500% (A) | 361,525 | 9,508,108 | |||
Gas utilities 0.7% | |||||
Spire, Inc., 5.900% (A) | 219,650 | 5,381,425 | |||
Independent power and renewable electricity producers 0.9% | |||||
The AES Corp., 6.875% | 96,400 | 6,422,168 | |||
Multi-utilities 1.6% | |||||
Algonquin Power & Utilities Corp., 6.200% (6.200% to 7-1-24, then 3 month LIBOR + 4.010% to 7-1-29, then 3 month LIBOR + 4.260% to 7-1-49, then 3 month LIBOR + 5.010%) (A) | 200,000 | 4,954,000 | |||
NiSource, Inc., 6.500% (6.500% to 3-15-24, then 5 Year CMT + 3.632% to 3-15-44, then 5 Year CMT + 4.632%) (A) | 214,251 | 5,409,838 | |||
Sempra, 5.750% (A) | 45,000 | 1,112,850 | |||
Rate (%) | Maturity date | Par value^ | Value | ||
Corporate bonds 37.7% (24.2% of Total investments) | $277,145,978 | ||||
(Cost $284,659,935) | |||||
Consumer discretionary 2.2% | 16,057,053 | ||||
Automobiles 2.2% | |||||
General Motors Financial Company, Inc. (5.700% to 9-30-30, then 5 Year CMT + 4.997%) (A)(B)(D) | 5.700 | 09-30-30 | 10,750,000 | 9,888,654 | |
General Motors Financial Company, Inc. (6.500% to 9-30-28, then 3 month LIBOR + 3.436%) (D) | 6.500 | 09-30-28 | 6,600,000 | 6,168,399 | |
Energy 0.3% | 1,914,417 | ||||
Oil, gas and consumable fuels 0.3% | |||||
Energy Transfer LP (8.000% to 5-15-29, then 5 Year CMT + 4.020%) | 8.000 | 05-15-54 | 1,850,000 | 1,914,417 | |
Financials 28.0% | 205,880,786 | ||||
Banks 22.5% | |||||
Banco Santander SA (9.625% to 11-21-33, then 5 Year CMT + 5.298%) (D) | 9.625 | 05-21-33 | 5,600,000 | 6,006,000 | |
Bank of America Corp. (5.875% to 3-15-28, then 3 month CME Term SOFR + 3.193%) (D) | 5.875 | 03-15-28 | 10,025,000 | 9,724,250 | |
Bank of America Corp. (6.125% to 4-27-27, then 5 Year CMT + 3.231%) (A)(B)(D) | 6.125 | 04-27-27 | 15,690,000 | 15,624,111 | |
Barclays PLC (9.625% to 6-15-30, then 5 Year SOFR ICE Swap Rate + 5.775%) (D) | 9.625 | 12-15-29 | 6,760,000 | 6,962,415 | |
BNP Paribas SA (7.375% to 8-19-25, then 5 Year U.S. Swap Rate + 5.150%) (A)(B)(D) | 7.375 | 08-19-25 | 10,000,000 | 10,006,080 | |
Citigroup, Inc. (7.375% to 5-15-28, then 5 Year CMT + 3.209%) (A)(B)(D) | 7.375 | 05-15-28 | 9,800,000 | 9,964,287 | |
Citigroup, Inc. (7.625% to 11-15-28, then 5 Year CMT + 3.211%) (A)(B)(D) | 7.625 | 11-15-28 | 11,955,000 | 12,222,213 | |
Citizens Financial Group, Inc. (6.375% to 4-6-24, then 3 month CME Term SOFR + 3.419%) (D) | 6.375 | 04-06-24 | 13,500,000 | 12,786,217 | |
Citizens Financial Group, Inc. (3 month CME Term SOFR + 3.265%) (C)(D) | 8.594 | 04-06-24 | 13,000,000 | 12,332,139 | |
CoBank ACB (6.450% to 10-1-27, then 5 Year CMT + 3.487%) (D) | 6.450 | 10-01-27 | 5,000,000 | 4,907,500 | |
Comerica, Inc. (5.625% to 10-1-25, then 5 Year CMT + 5.291%) (D) | 5.625 | 07-01-25 | 7,325,000 | 7,073,755 | |
Huntington Bancshares, Inc. (5.625% to 7-15-30, then 10 Year CMT + 4.945%) (A)(B)(D) | 5.625 | 07-15-30 | 7,570,000 | 6,984,579 | |
Huntington Bancshares, Inc. (3 month CME Term SOFR + 3.142%) (C)(D) | 8.456 | 04-15-24 | 3,000,000 | 2,917,213 | |
KeyCorp (5.000% to 9-15-26, then 3 month CME Term SOFR + 3.868%) (D) | 5.000 | 09-15-26 | 5,234,000 | 4,681,093 | |
Lloyds Banking Group PLC (7.500% to 6-27-24, then 5 Year U.S. Swap Rate + 4.760%) (D) | 7.500 | 06-27-24 | 6,000,000 | 5,942,242 | |
NatWest Group PLC (8.000% to 8-10-25, then 5 Year U.S. Swap Rate + 5.720%) (D) | 8.000 | 08-10-25 | 8,624,000 | 8,656,599 | |
Societe Generale SA (10.000% to 5-14-29, then 5 Year CMT + 5.448%) (D)(E) | 10.000 | 11-14-28 | 5,900,000 | 6,294,692 |
4 | JOHN HANCOCK TAX-ADVANTAGED DIVIDEND INCOME FUND | QUARTERLY REPORT | SEE NOTES TO FUND’S INVESTMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
Financials (continued) | |||||
Banks (continued) | |||||
The PNC Financial Services Group, Inc. (6.000% to 5-15-27, then 5 Year CMT + 3.000%) (A)(B)(D) | 6.000 | 05-15-27 | 14,000,000 | $13,382,181 | |
Wells Fargo & Company (7.625% to 9-15-28, then 5 Year CMT + 3.606%) (D) | 7.625 | 09-15-28 | 8,624,000 | 9,033,881 | |
Capital markets 2.2% | |||||
State Street Corp. (6.700% to 3-15-29, then 5 Year CMT + 2.613%) (D) | 6.700 | 03-15-29 | 5,244,000 | 5,230,883 | |
The Charles Schwab Corp. (5.375% to 6-1-25, then 5 Year CMT + 4.971%) (A)(B)(D) | 5.375 | 06-01-25 | 3,400,000 | 3,351,933 | |
The Goldman Sachs Group, Inc. (7.500% to 2-10-29, then 5 Year CMT + 3.156%) (D) | 7.500 | 02-10-29 | 7,493,000 | 7,870,416 | |
Consumer finance 1.0% | |||||
Discover Financial Services (6.125% to 9-23-25, then 5 Year CMT + 5.783%) (A)(B)(D) | 6.125 | 06-23-25 | 7,200,000 | 7,077,823 | |
Insurance 2.3% | |||||
Markel Group, Inc. (6.000% to 6-1-25, then 5 Year CMT + 5.662%) (A)(B)(D) | 6.000 | 06-01-25 | 6,500,000 | 6,425,962 | |
MetLife, Inc. (5.875% to 3-15-28, then 3 month CME Term SOFR + 3.221%) (D) | 5.875 | 03-15-28 | 1,000,000 | 989,474 | |
SBL Holdings, Inc. (7.000% to 5-13-25, then 5 Year CMT + 5.580%) (D)(E) | 7.000 | 05-13-25 | 13,975,000 | 9,432,848 | |
Utilities 7.2% | 53,293,722 | ||||
Electric utilities 3.4% | |||||
Edison International (5.000% to 3-15-27, then 5 Year CMT + 3.901% to 3-15-32, then 5 Year CMT + 4.151% to 3-15-47, then 5 Year CMT + 4.901%) (D) | 5.000 | 12-15-26 | 3,952,000 | 3,755,368 | |
Edison International (5.375% to 3-15-26, then 5 Year CMT + 4.698%) (D) | 5.375 | 03-15-26 | 9,500,000 | 9,140,275 | |
NRG Energy, Inc. (10.250% to 3-15-28, then 5 Year CMT + 5.920%) (D)(E) | 10.250 | 03-15-28 | 11,825,000 | 12,462,592 | |
Independent power and renewable electricity producers 2.8% | |||||
Vistra Corp. (8.000% to 10-15-26, then 5 Year CMT + 6.930%) (D)(E) | 8.000 | 10-15-26 | 8,210,000 | 8,186,574 | |
Vistra Corp. (8.875% to 1-15-29, then 5 Year CMT + 5.045%) (D)(E) | 8.875 | 01-15-29 | 11,722,000 | 12,073,660 | |
Multi-utilities 1.0% | |||||
Dominion Energy, Inc. (4.350% to 4-15-27, then 5 Year CMT + 3.195%) (A)(B)(D) | 4.350 | 01-15-27 | 8,500,000 | 7,675,253 | |
Yield (%) | Shares | Value | |||
Short-term investments 0.0% (0.0% of Total investments) | $80,933 | ||||
(Cost $80,937) | |||||
Short-term funds 0.0% | 80,933 | ||||
John Hancock Collateral Trust (F) | 5.3658(G) | 8,092 | 80,933 |
Total investments (Cost $1,059,228,454) 155.6% | $1,144,053,382 | ||||
Other assets and liabilities, net (55.6%) | (408,617,546) | ||||
Total net assets 100.0% | $735,435,836 |
The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund unless otherwise indicated. | |
^All par values are denominated in U.S. dollars unless otherwise indicated. | |
Security Abbreviations and Legend | |
ADR | American Depositary Receipt |
CME | CME Group Published Rates |
CMT | Constant Maturity Treasury |
ICE | Intercontinental Exchange |
LIBOR | London Interbank Offered Rate |
SOFR | Secured Overnight Financing Rate |
(A) | All or a portion of this security is pledged as collateral pursuant to the Liquidity Agreement. Total collateral value at 1-31-24 was $625,060,760. A portion of the securities pledged as collateral were loaned pursuant to the Liquidity Agreement. The value of securities on loan amounted to $199,320,786. |
(B) | All or a portion of this security is on loan as of 1-31-24, and is a component of the fund’s leverage under the Liquidity Agreement. |
(C) | Variable rate obligation. The coupon rate shown represents the rate at period end. |
SEE NOTES TO FUND’S INVESTMENTS | QUARTERLY REPORT | JOHN HANCOCK TAX-ADVANTAGED DIVIDEND INCOME FUND | 5 |
(D) | Perpetual bonds have no stated maturity date. Date shown as maturity date is next call date. |
(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) | Investment is an affiliate of the fund, the advisor and/or subadvisor. |
(G) | The rate shown is the annualized seven-day yield as of 1-31-24. |
United States | 89.6% |
United Kingdom | 5.7% |
Canada | 2.4% |
France | 1.4% |
Other countries | 0.9% |
TOTAL | 100.0% |
6 | JOHN HANCOCK TAX-ADVANTAGED DIVIDEND INCOME FUND | QUARTERLY REPORT | SEE NOTES TO FUND’S INVESTMENTS |
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 | 210,000,000 | USD | Fixed 3.662% | USD SOFR Compounded OIS(a) | Semi-Annual | Quarterly | May 2026 | — | $2,341,292 | $2,341,292 |
Centrally cleared | 104,500,000 | USD | Fixed 3.473% | USD SOFR Compounded OIS(a) | Semi-Annual | Quarterly | May 2026 | — | 1,611,739 | 1,611,739 |
Centrally cleared | 52,200,000 | USD | Fixed 3.817% | USD SOFR Compounded OIS(a) | Semi-Annual | Quarterly | Dec 2026 | — | 96,161 | 96,161 |
— | $4,049,192 | $4,049,192 |
(a) | At 1-31-24, the overnight SOFR was 5.320%. |
Derivatives Currency Abbreviations | |
USD | U.S. Dollar |
Derivatives Abbreviations | |
OIS | Overnight Index Swap |
OTC | Over-the-counter |
SOFR | Secured Overnight Financing Rate |
SEE NOTES TO FUND’S INVESTMENTS | QUARTERLY REPORT | JOHN HANCOCK TAX-ADVANTAGED DIVIDEND INCOME FUND | 7 |
Notes to Fund’s investments (unaudited) |
Total value at 1-31-24 | Level 1 quoted price | Level 2 significant observable inputs | Level 3 significant unobservable inputs | |
Investments in securities: | ||||
Assets | ||||
Common stocks | $651,081,936 | $651,081,936 | — | — |
Preferred securities | 215,744,535 | 215,744,535 | — | — |
Corporate bonds | 277,145,978 | — | $277,145,978 | — |
Short-term investments | 80,933 | 80,933 | — | — |
Total investments in securities | $1,144,053,382 | $866,907,404 | $277,145,978 | — |
Derivatives: | ||||
Assets | ||||
Swap contracts | $4,049,192 | — | $4,049,192 | — |
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 | 8,092 | $1,073,058 | $55,914,097 | $(56,908,148) | $1,876 | $50 | $99,163 | — | $80,933 |
8 | | |
| | 9 |