UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number 811- 21777

John Hancock Fund III
(Exact name of registrant as specified in charter)

601 Congress Street, Boston, Massachusetts 02210
(Address of principal executive offices) (Zip code)

Gordon M. Shone, Treasurer

601 Congress Street

Boston, Massachusetts 02210

(Name and address of agent for service)

Registrant's telephone number, including area code: 617-663-3000

Date of fiscal year end:	February 28
Date of reporting period:	November 30, 2006

ITEM 1. SCHEDULE OF INVESTMENTS

JOHN HANCOCK FUNDS III

PORTFOLIO OF INVESTMENTS - November 30, 2006 (Unaudited)
(showing percentage of total net assets)

Intrinsic Value Fund
	Shares or
	Principal
	Amount		Value
COMMON STOCKS - 96.21%
Aerospace - 0.58%
Goodrich Corp.	300	$	13,500
Northrop Grumman Corp.	1,000		66,930
Raytheon Company	600		30,624
			111,054
Agriculture - 0.38%
Archer-Daniels-Midland Company	2,100		73,710
Aluminum - 0.50%
Alcoa, Inc.	3,100		96,627
Amusement & Theme Parks - 0.70%
Walt Disney Company	4,100		135,505
Apparel & Textiles - 1.04%
Jones Apparel Group, Inc.	1,400		47,040
Liz Claiborne, Inc.	1,200		51,300
Mohawk Industries, Inc. *	400		30,972
VF Corp.	900		70,551
			199,863
Auto Parts - 0.71%
AutoZone, Inc. *	200		22,722
Johnson Controls, Inc.	900		73,197
O'Reilly Automotive, Inc. *	1,000		31,670
TRW Automotive Holdings Corp. *	400		9,936
			137,525
Auto Services - 0.29%
AutoNation, Inc. *	2,700		55,647
Automobiles - 1.75%
Ford Motor Company	22,600		183,738
General Motors Corp.	2,800		81,844
PACCAR, Inc.	1,100		71,830
			337,412
Banking - 6.18%
Bank of America Corp.	7,700		414,645
Bank of New York Company, Inc.	1,500		53,310
BB&T Corp.	1,500		64,515
Comerica, Inc.	1,800		104,850
Fifth Third Bancorp	1,100		43,373
First Horizon National Corp.	800		31,888
Huntington Bancshares, Inc.	1,000		24,310
KeyCorp	2,500		90,250
National City Corp.	7,900		285,190
US Bancorp	2,300		77,372
			1,189,703
Biotechnology - 0.17%
Applera Corp.	900		32,796
Broadcasting - 0.76%
CBS Corp., Class B	2,200		65,450
News Corp.	3,900		80,340
			145,790
Building Materials & Construction - 0.45%
American Standard Companies, Inc.	400		17,924

Intrinsic Value Fund (continued)
	Shares or
	Principal
	Amount		Value
COMMON STOCKS (continued)
Building Materials & Construction
(continued)
Masco Corp.	2,400	$	68,856
			86,780
Business Services - 1.30%
Affiliated Computer Services, Inc., Class A *	700		35,385
Computer Sciences Corp. *	700		36,540
Convergys Corp. *	1,300		31,356
Electronic Data Systems Corp.	500		13,570
First Data Corp.	1,200		30,300
Manpower, Inc.	600		42,600
Moody's Corp.	200		13,896
Pitney Bowes, Inc.	1,000		46,090
			249,737
Cable and Television - 0.61%
Comcast Corp., Class A *	2,900		117,334
Chemicals - 0.44%
Air Products & Chemicals, Inc.	400		27,656
PPG Industries, Inc.	900		57,870
			85,526
Commercial Services - 0.04%
Western Union Company *	300		6,840
Computers & Business Equipment - 1.98%
CDW Corp.	200		14,100
Dell, Inc. *	4,400		119,856
Hewlett-Packard Company	1,900		74,974
Ingram Micro, Inc., Class A *	1,600		32,608
International Business Machines Corp.	900		82,728
Lexmark International, Inc. *	400		27,592
Tech Data Corp. *	700		29,274
			381,132
Containers & Glass - 0.06%
Smurfit-Stone Container Corp. *	1,100		11,803
Crude Petroleum & Natural Gas - 0.86%
Apache Corp.	400		27,972
Devon Energy Corp.	500		36,685
Occidental Petroleum Corp.	2,000		100,680
			165,337
Electrical Equipment - 0.18%
Emerson Electric Company	400		34,680
Electrical Utilities - 0.08%
CenterPoint Energy, Inc.	900		14,715
Electronics - 0.07%
Thermo Electron Corp. *	300		13,149
Financial Services - 17.38%
Bear Stearns Companies, Inc.	300		45,744
Capital One Financial Corp.	200		15,576
CIT Group, Inc.	500		26,005
Citigroup, Inc.	18,200		902,538
Countrywide Financial Corp.	700		27,804

Page 1

JOHN HANCOCK FUNDS III

PORTFOLIO OF INVESTMENTS - November 30, 2006 (Unaudited) - continued
(showing percentage of total net assets)

Intrinsic Value Fund (continued)
	Shares or
	Principal
	Amount		Value
COMMON STOCKS (continued)
Financial Services (continued)
Federal Home Loan Mortgage Corp.	4,700	$	315,652
Federal National Mortgage Association	6,200		353,586
Fidelity National Information Services, Inc.	537		21,426
Fiserv, Inc. *	400		20,444
Goldman Sachs Group, Inc.	900		175,320
IndyMac Bancorp, Inc.	300		13,785
Janus Capital Group, Inc.	500		10,130
JP Morgan Chase & Company	6,700		310,076
Knight Capital Group, Inc. *	600		10,566
Lehman Brothers Holdings, Inc.	800		58,936
Mellon Financial Corp.	1,400		56,322
Merrill Lynch & Company, Inc.	2,200		192,346
Morgan Stanley	5,600		426,496
PNC Financial Services Group, Inc.	1,900		134,311
State Street Corp. (c)	500		31,065
Washington Mutual, Inc.	4,500		196,560
			3,344,688
Food & Beverages - 1.99%
H.J. Heinz Company	700		31,115
Kraft Foods, Inc., Class A	4,200		147,210
Pepsi Bottling Group, Inc.	700		21,924
PepsiAmericas, Inc.	500		10,420
Sara Lee Corp.	3,800		63,004
Starbucks Corp. *	1,100		38,819
Tyson Foods, Inc., Class A	4,500		71,505
			383,997
Healthcare Products - 0.26%
Biomet, Inc.	400		15,124
Stryker Corp.	400		20,744
Zimmer Holdings, Inc. *	200		14,592
			50,460
Healthcare Services - 2.85%
Cardinal Health, Inc.	2,400		155,088
Caremark Rx, Inc.	200		9,460
Express Scripts, Inc. *	600		40,920
Lincare Holdings, Inc. *	300		11,301
McKesson Corp.	3,200		158,080
Quest Diagnostics, Inc.	600		31,902
UnitedHealth Group, Inc.	2,900		142,332
			549,083
Homebuilders - 0.73%
Centex Corp.	500		27,670
KB Home	400		20,676
Lennar Corp., Class A	600		31,500
M.D.C. Holdings, Inc.	200		11,426
Pulte Homes, Inc.	500		16,870
Ryland Group, Inc.	600		31,650
			139,792
Hotels & Restaurants - 0.14%
Brinker International, Inc.	600		27,282

Intrinsic Value Fund (continued)
	Shares or
	Principal
	Amount		Value
COMMON STOCKS (continued)
Household Appliances - 0.35%
Whirlpool Corp.	800	$	68,240
Household Products - 0.17%
Energizer Holdings, Inc. *	200		13,218
Newell Rubbermaid, Inc.	700		19,943
			33,161
Industrial Machinery - 0.74%
Cummins, Inc.	200		23,984
Deere & Company	500		48,000
Parker-Hannifin Corp.	400		33,392
Terex Corp. *	400		22,408
W.W. Grainger, Inc.	200		14,472
			142,256
Insurance - 7.06%
Aetna, Inc.	600		24,786
AFLAC, Inc.	2,900		128,006
Allstate Corp.	2,200		139,656
Ambac Financial Group, Inc.	800		68,512
American Financial Group, Inc.	600		31,326
American International Group, Inc.	4,100		288,312
Aon Corp.	1,200		42,816
CIGNA Corp.	200		25,210
Commerce Group, Inc.	400		12,204
Conseco, Inc. *	600		11,934
First American Corp.	700		27,027
Hartford Financial Services Group, Inc.	200		17,152
Lincoln National Corp.	900		57,231
Marsh & McLennan Companies, Inc.	100		3,142
MBIA, Inc.	1,100		76,615
MGIC Investment Corp.	600		34,776
Nationwide Financial Services, Inc., Class A	400		20,800
Old Republic International Corp.	1,600		36,080
PMI Group, Inc.	900		38,979
Progressive Corp.	2,100		47,355
Protective Life Corp.	400		18,888
Radian Group, Inc.	800		42,568
Torchmark Corp.	700		44,254
Transatlantic Holdings, Inc.	200		12,376
UnumProvident Corp.	3,300		67,584
W.R. Berkley Corp.	1,200		42,132
			1,359,721
International Oil - 1.35%
Anadarko Petroleum Corp., ADR	2,700		133,272
ChevronTexaco Corp.	1,100		79,552
ConocoPhillips	700		47,110
			259,934
Liquor - 0.25%
Anheuser-Busch Companies, Inc.	1,000		47,510
Manufacturing - 0.94%
Danaher Corp.	400		29,248
Eaton Corp.	600		46,248

Page 2

JOHN HANCOCK FUNDS III

PORTFOLIO OF INVESTMENTS - November 30, 2006 (Unaudited) - continued
(showing percentage of total net assets)

Intrinsic Value Fund (continued)
	Shares or
	Principal
	Amount		Value
COMMON STOCKS (continued)
Manufacturing (continued)
Harley-Davidson, Inc.	400	$	29,508
Illinois Tool Works, Inc.	600		28,320
Snap-on, Inc.	500		23,750
SPX Corp.	400		24,444
			181,518
Medical-Hospitals - 0.16%
Health Management Associates, Inc., Class A	600		12,300
Tenet Healthcare Corp. *	2,700		19,143
			31,443
Metal & Metal Products - 0.20%
Reliance Steel & Aluminum Company	1,000		38,490
Office Furnishings & Supplies - 0.20%
Office Depot, Inc. *	500		18,930
OfficeMax, Inc.	400		18,828
			37,758
Paper - 0.19%
International Paper Company	1,100		36,410
Petroleum Services - 4.43%
Exxon Mobil Corp.	11,100		852,591
Pharmaceuticals - 11.73%
Abbott Laboratories	1,100		51,326
AmerisourceBergen Corp.	2,800		128,772
Barr Pharmaceuticals, Inc. *	200		10,216
Bristol-Myers Squibb Company	4,000		99,320
Forest Laboratories, Inc. *	1,400		68,180
King Pharmaceuticals, Inc. *	3,200		52,896
Merck & Company, Inc.	16,600		738,866
Pfizer, Inc.	40,300		1,107,847
			2,257,423
Photography - 0.31%
Eastman Kodak Company	2,300		59,846
Publishing - 0.83%
Gannett Company, Inc.	2,300		136,896
Tribune Company	700		22,260
			159,156
Railroads & Equipment - 0.80%
Burlington Northern Santa Fe Corp.	800		60,128
CSX Corp.	400		14,344
Norfolk Southern Corp.	500		24,625
Union Pacific Corp.	600		54,312
			153,409
Retail Grocery - 2.14%
Safeway, Inc.	5,500		169,455
SUPERVALU, Inc.	1,700		58,242
The Kroger Company	8,600		184,556
			412,253
Retail Trade - 8.24%
AnnTaylor Stores Corp. *	300		10,350
Bed Bath & Beyond, Inc. *	800		31,000

Intrinsic Value Fund (continued)
	Shares or
	Principal
	Amount		Value
COMMON STOCKS (continued)
Retail Trade (continued)
Best Buy Company, Inc.	300	$	16,491
Big Lots, Inc. *	500		11,155
BJ's Wholesale Club, Inc. *	900		29,070
Circuit City Stores, Inc.	500		12,480
Costco Wholesale Corp.	1,200		62,712
Dillard's, Inc., Class A	400		14,228
Dollar General Corp.	1,500		23,310
Dollar Tree Stores, Inc. *	1,700		51,017
Family Dollar Stores, Inc.	1,700		47,413
Foot Locker, Inc.	1,000		22,900
Gap, Inc.	1,400		26,208
Home Depot, Inc.	12,800		486,016
Lowe's Companies, Inc.	7,000		211,120
Rent-A-Center, Inc. *	500		13,670
Staples, Inc.	700		17,829
Target Corp.	500		29,045
The TJX Companies, Inc.	1,100		30,162
Walgreen Company	1,300		52,637
Wal-Mart Stores, Inc.	8,400		387,240
			1,586,053
Sanitary Services - 0.25%
Allied Waste Industries, Inc. *	900		11,412
Waste Management, Inc.	1,000		36,610
			48,022
Semiconductors - 0.28%
Intel Corp.	1,900		40,565
Intersil Corp., Class A	500		12,385
			52,950
Software - 0.47%
BEA Systems, Inc. *	1,500		20,655
BMC Software, Inc. *	200		6,512
Intuit, Inc. *	400		12,592
Microsoft Corp.	1,700		49,861
			89,620
Steel - 0.37%
Nucor Corp.	1,200		71,820
Telecommunications Equipment &
Services - 0.12%
Polycom, Inc. *	800		23,072
Telephone - 8.94%
AT&T, Inc.	17,900		606,989
BellSouth Corp.	4,700		209,573
CenturyTel, Inc.	1,500		63,825
Qwest Communications International, Inc. *	3,500		26,915
Verizon Communications, Inc.	23,300		814,102
			1,721,404
Tires & Rubber - 0.05%
Goodyear Tire & Rubber Company *	600		10,110
Tobacco - 1.65%
Altria Group, Inc.	3,000		252,630

Page 3

JOHN HANCOCK FUNDS III

PORTFOLIO OF INVESTMENTS - November 30, 2006 (Unaudited) - continued
(showing percentage of total net assets)

Intrinsic Value Fund (continued)
		Shares or
		Principal
		Amount		Value
COMMON STOCKS (continued)
Tobacco (continued)
Reynolds American, Inc.		400	$	25,696
UST, Inc.		700		39,186
				317,512
Toys, Amusements & Sporting Goods - 0.16%
Mattel, Inc.		1,400		30,730
Transportation - 0.07%
C.H. Robinson Worldwide, Inc.		300		13,200
Travel Services - 0.16%
Sabre Holdings Corp.		1,100		30,173
Trucking & Freight - 1.12%
Fedex Corp.		1,600		184,688
Ryder Systems, Inc.		600		31,302
				215,990
TOTAL COMMON STOCKS (Cost $16,798,847)			$	18,519,742
REPURCHASE AGREEMENTS - 6.87%
Repurchase Agreement with State
Street Corp. dated 11/30/2006 at
3.95% to be repurchased at
$1,322,145 on 12/01/2006,
collateralized by $1,295,000
Federal Home Loan Bank, 5.375%
due 05/15/2019 (valued at
$1,350,038, including interest) (c)	$	1,322,000	$	1,322,000
TOTAL REPURCHASE AGREEMENTS
(Cost $1,322,000)			$	1,322,000
Total Investments (Intrinsic Value Fund)
(Cost $18,120,847) - 103.08%			$	19,841,742
Liabilities in Excess of Other Assets - (3.08)%				(592,653)
TOTAL NET ASSETS - 100.00%			$	19,249,089

Page 4

Footnotes

Percentages are states as a percent of net assets.

Key to Security Abbreviations and Legend

ADR – American Depositary Receipts

* Non-Income Producing

(c) Investment is an affiliate of the Trust’s subadvisor or custodian bank

Page 5

JOHN HANCOCK FUNDS III
Notes to Financial Statements (Unaudited)

The following is a summary of open futures contracts at November 30, 2006:

					Unrealized
					Appreciation
Fund	Open Contracts	Number of Contracts	Position	Expiration Date	(Depreciation)
Intrinsic Value	S&P 500 Index	1	Long	Dec 2006	($832)
					($832)

At November 30, 2006, the aggregate cost of investments was the same for federal income tax and financial statement purposes. The net unrealized appreciation/(depreciation) of investment securities for federal income tax purposes was as follows:

	Unrealized	Unrealized	Net Unrealized
Fund	Appreciation	(Depreciation)	Appreciation/ (Depreciation)
Intrinsic Value	1,815,303	(94,408)	1,720,895

Page 6

JOHN HANCOCK FUNDS III

PORTFOLIO OF INVESTMENTS - November 30, 2006 (Unaudited)
(showing percentage of total net assets)

Value Opportunities Fund
	Shares or
	Principal
	Amount		Value
COMMON STOCKS - 96.42%
Aerospace - 0.50%
Alliant Techsystems, Inc. *	800	$	61,848
Armor Holdings, Inc. *	200		11,310
Curtiss Wright Corp.	800		28,440
			101,598
Air Freight - 0.21%
ExpressJet Holdings, Inc. *	5,500		43,450
Aluminum - 0.10%
Superior Essex, Inc. *	600		21,240
Apparel & Textiles - 4.45%
Brown Shoe, Inc.	1,100		52,184
Columbia Sportswear Company	2,200		129,470
Jones Apparel Group, Inc.	5,900		198,240
Kellwood Company	2,100		65,625
K-Swiss, Inc., Class A	1,200		39,852
Liz Claiborne, Inc.	7,100		303,525
Skechers United States of America, Inc.,
Class A *	300		8,850
Stride Rite Corp.	1,000		15,630
Timberland Company., Class A *	2,500		78,125
Wolverine World Wide, Inc.	700		20,342
			911,843
Auto Parts - 1.77%
American Axle & Manufacturing Holdings, Inc.	2,100		38,430
ArvinMeritor, Inc.	4,000		69,240
BorgWarner, Inc.	900		52,020
Keystone Automotive Industries, Inc. *	200		7,174
O'Reilly Automotive, Inc. *	2,400		76,008
Superior Industries International, Inc.	3,300		65,109
TRW Automotive Holdings Corp. *	2,200		54,648
			362,629
Auto Services - 0.75%
AutoNation, Inc. *	4,500		92,745
Copart, Inc. *	1,100		33,231
Lithia Motors, Inc., Class A	1,100		28,446
			154,422
Automobiles - 1.68%
Asbury Automotive Group, Inc.	700		16,478
Group 1 Automotive, Inc.	2,700		137,673
Tenneco, Inc. *	900		21,222
United Auto Group, Inc.	7,200		168,984
			344,357
Banking - 9.20%
Amcore Financial, Inc.	300		9,552
Anchor BanCorp Wisconsin, Inc.	1,200		34,392
Associated Banc-Corp.	2,200		73,128
Astoria Financial Corp.	4,800		143,520
BancFirst Corp.	200		10,654
BancorpSouth, Inc.	2,700		70,335
BankUnited Financial Corp., Class A	600		15,300
Banner Corp.	200		9,132

Value Opportunities Fund (continued)
	Shares or
	Principal
	Amount		Value
COMMON STOCKS (continued)
Banking (continued)
Cathay General Bancorp, Inc.	300	$	10,308
Chemical Financial Corp.	600		19,596
Chittenden Corp.	300		9,024
Citizens Banking Corp.	600		16,104
City National Corp.	700		47,474
Commerce Bancshares, Inc.	1,785		86,733
Cullen Frost Bankers, Inc.	600		32,700
Dime Community Bancorp, Inc.	800		11,256
Downey Financial Corp.	1,300		94,640
First Citizens Bancshares, Inc.	100		19,955
First Horizon National Corp.	2,900		115,594
First Indiana Corp.	600		14,898
First Midwest BanCorp, Inc., Illinois	700		26,075
FirstFed Financial Corp. *	700		45,514
FirstMerit Corp.	1,800		42,660
Flagstar Bancorp, Inc.	2,800		42,140
Greater Bay Bancorp	2,500		64,350
Hancock Holding Company	800		42,976
International Bancshares Corp.	400		12,364
Investors Financial Services Corp.	800		31,816
Irwin Financial Corp.	600		13,218
ITLA Capital Corp.	500		26,510
MAF Bancorp, Inc.	1,000		43,990
Mercantile Bankshares Corp.	700		31,927
New York Community Bancorp, Inc.	4,400		71,104
Old National Bancorp	400		7,512
Pacific Capital Bancorp	1,100		35,849
Park National Corp.	100		10,025
Sky Financial Group, Inc.	400		9,900
Sterling Bancshares, Inc.	1,000		18,420
TCF Financial Corp.	4,100		107,092
Trustmark Corp.	2,800		91,336
United Bankshares, Inc.	400		15,432
Valley National Bancorp	900		23,364
Washington Federal, Inc.	1,900		44,156
Webster Financial Corp.	1,000		47,770
Westamerica Bancorp	600		29,718
Whitney Holding Corp.	1,000		32,230
Wilmington Trust Corp.	1,800		74,808
			1,886,551
Biotechnology - 0.46%
Applera Corp.	2,000		72,880
Techne Corp. *	400		21,508
			94,388
Broadcasting - 0.13%
Westwood One, Inc.	2,700		17,793
World Wrestling Entertainment, Inc., Class A	500		7,970
			25,763
Building Materials & Construction - 0.84%
Dycom Industries, Inc. *	1,500		30,480
EMCOR Group, Inc. *	2,200		131,274

Page 1

JOHN HANCOCK FUNDS III

PORTFOLIO OF INVESTMENTS - November 30, 2006 (Unaudited) - continued
(showing percentage of total net assets)

Value Opportunities Fund (continued)
	Shares or
	Principal
	Amount		Value
COMMON STOCKS (continued)
Building Materials & Construction
(continued)
NCI Building Systems, Inc. *	200	$	11,036
			172,790
Business Services - 3.67%
Banta Corp.	600		21,732
BearingPoint, Inc. *	2,100		17,598
Black Box Corp.	600		25,692
CDI Corp.	500		13,015
Ceridian Corp. *	600		14,706
Convergys Corp. *	4,100		98,892
Deluxe Corp.	2,900		71,398
FactSet Research Systems, Inc.	700		37,016
Forrester Research, Inc. *	400		11,248
Insight Enterprises, Inc. *	2,000		40,200
Kelly Services, Inc., Class A	1,300		37,882
Lightbridge, Inc. *	1,100		14,520
Manpower, Inc.	3,200		227,200
MAXIMUS, Inc.	800		23,408
MPS Group, Inc. *	1,900		28,481
Paxar Corp. *	400		8,540
Scansource, Inc. *	600		18,312
Sonicwall, Inc. *	1,700		17,085
Spherion Corp. *	900		6,480
Watson Wyatt Worldwide, Inc., Class A	400		18,560
			751,965
Cellular Communications - 0.23%
Telephone & Data Systems, Inc.	900		46,494
Chemicals - 1.72%
A. Schulman, Inc.	500		11,395
Airgas, Inc.	600		25,530
Albemarle Corp.	800		55,792
Ashland, Inc.	500		33,805
H.B. Fuller Company	1,400		36,498
Hercules, Inc. *	1,800		33,534
PolyOne Corp. *	2,200		16,896
Sensient Technologies Corp.	3,300		78,639
Sigma-Aldrich Corp.	100		7,611
Stepan Company	700		21,224
Valspar Corp.	1,100		30,778
			351,702
Colleges & Universities - 0.85%
Career Education Corp. *	2,600		65,650
Corinthian Colleges, Inc. *	2,000		25,800
ITT Educational Services, Inc. *	1,200		82,284
			173,734
Commercial Services - 0.14%
Pool Corp.	400		16,388
Vertrue, Inc. *	300		11,493
			27,881

Value Opportunities Fund (continued)
	Shares or
	Principal
	Amount		Value
COMMON STOCKS (continued)
Computers & Business Equipment - 2.71%
Benchmark Electronics, Inc. *	900	$	21,861
Brocade Communications Systems, Inc. *	1,300		12,025
CDW Corp.	1,700		119,850
Diebold, Inc.	1,100		50,600
EMS Technologies, Inc. *	400		8,188
Ingram Micro, Inc., Class A *	7,800		158,964
Tech Data Corp. *	4,400		184,008
			555,496
Construction Materials - 1.06%
Ameron International Corp.	700		52,647
Comfort Systems USA, Inc.	600		8,094
Granite Construction, Inc.	400		20,640
Louisiana-Pacific Corp.	2,100		44,310
Simpson Manufacturing Company, Inc.	900		27,873
Standex International Corp.	300		8,919
Universal Forest Products, Inc.	700		32,648
USG Corp. *	400		22,292
			217,423
Containers & Glass - 1.14%
Bemis Company, Inc.	2,000		68,260
Greif, Inc., Class A	200		19,830
Pactiv Corp. *	1,100		37,895
Smurfit-Stone Container Corp. *	2,100		22,533
Sonoco Products Company	2,300		85,077
			233,595
Correctional Facilities - 0.09%
Corrections Corp. of America *	400		18,180
Cosmetics & Toiletries - 0.47%
Alberto-Culver Company *	1,200		24,084
Estee Lauder Companies, Inc., Class A	900		37,161
International Flavors & Fragrances, Inc.	600		28,266
Sally Beauty Holdings, Inc. *	700		6,482
			95,993
Domestic Oil - 0.25%
Houston Exploration Company *	300		16,836
Stone Energy Corp. *	900		35,118
			51,954
Drugs & Health Care - 0.29%
Hillenbrand Industries, Inc.	500		28,930
Molina Healthcare, Inc. *	900		30,591
			59,521
Electrical Equipment - 0.76%
A.O. Smith Corp.	700		25,053
Anixter International, Inc. *	400		23,448
Hubbell, Inc., Class B	400		20,980
Littelfuse, Inc. *	700		21,896
Molex, Inc.	700		22,400
Tektronix, Inc.	1,400		42,784
			156,561

Page 2

JOHN HANCOCK FUNDS III

PORTFOLIO OF INVESTMENTS - November 30, 2006 (Unaudited) - continued
(showing percentage of total net assets)

Value Opportunities Fund (continued)
	Shares or
	Principal
	Amount		Value
COMMON STOCKS (continued)
Electrical Utilities - 1.03%
Alliant Corp.	700	$	27,230
CenterPoint Energy, Inc.	3,800		62,130
Great Plains Energy, Inc.	300		9,483
IDACORP, Inc.	300		11,997
NSTAR	200		7,036
OGE Energy Corp.	1,100		43,142
Otter Tail Corp.	300		9,222
Pepco Holdings, Inc.	1,200		30,756
Reliant Energy, Inc. *	700		9,394
			210,390
Electronics - 1.39%
Arrow Electronics, Inc. *	1,300		41,288
Avnet, Inc. *	1,900		47,101
AVX Corp.	1,700		26,418
Checkpoint Systems, Inc. *	700		13,426
Imation Corp.	100		4,631
Mentor Graphics Corp. *	1,100		18,601
Synopsys, Inc. *	300		7,665
Technitrol, Inc.	1,300		35,724
Teleflex, Inc.	300		19,389
Thermo Electron Corp. *	700		30,681
Thomas & Betts Corp. *	400		20,748
Vishay Intertechnology, Inc. *	1,400		18,340
			284,012
Energy - 0.05%
New Jersey Resources Corp.	200		10,350
Financial Services - 3.27%
A.G. Edwards, Inc.	700		40,495
Advanta Corp., Class B	300		13,686
AmeriCredit Corp. *	2,800		65,660
Delphi Financial Group, Inc.	900		36,450
Federal Agricultural Mortgage Corp., Class C	600		15,654
Fremont General Corp.	2,500		42,525
Fulton Financial Corp.	300		4,875
IndyMac Bancorp, Inc.	1,900		87,305
Janus Capital Group, Inc.	1,600		32,416
Jefferies Group, Inc.	2,600		75,374
Knight Capital Group, Inc. *	3,100		54,591
Leucadia National Corp.	1,100		30,349
Moneygram International, Inc.	2,000		61,000
Piper Jaffray Companies, Inc. *	200		13,014
Raymond James Financial, Inc.	2,000		63,020
SEI Investments Company	600		34,914
			671,328
Food & Beverages - 3.13%
ARAMARK Corp., Class B	400		13,340
Corn Products International, Inc.	1,600		58,112
Del Monte Foods Company	3,300		37,257
Flowers Foods, Inc.	100		2,664
Hormel Foods Corp.	1,900		71,972
McCormick & Company, Inc.	900		34,848

Value Opportunities Fund (continued)
	Shares or
	Principal
	Amount		Value
COMMON STOCKS (continued)
Food & Beverages (continued)
Performance Food Group Company *	3,100	$	83,886
Pilgrim's Pride Corp.	300		7,656
Ralcorp Holdings, Inc. *	300		15,195
Sanderson Farms, Inc.	1,400		38,710
Smithfield Foods, Inc. *	2,500		65,950
Tyson Foods, Inc., Class A	13,300		211,337
			640,927
Furniture & Fixtures - 1.43%
Ethan Allen Interiors, Inc.	2,300		81,604
Furniture Brands International, Inc.	4,900		84,378
La-Z-Boy, Inc.	3,800		44,764
Leggett & Platt, Inc.	3,500		83,230
			293,976
Gas & Pipeline Utilities - 0.08%
ONEOK, Inc.	400		17,296
Healthcare Products - 1.06%
DENTSPLY International, Inc.	900		28,737
IDEXX Laboratories, Inc. *	700		59,255
Owens & Minor, Inc.	2,500		77,575
Patterson Companies, Inc. *	800		29,688
Respironics, Inc. *	600		21,636
			216,891
Healthcare Services - 1.70%
AMERIGROUP Corp. *	1,500		51,285
Apria Healthcare Group, Inc. *	2,300		57,431
Health Net, Inc. *	1,300		59,982
Lincare Holdings, Inc. *	3,000		113,010
Magellan Health Services, Inc. *	200		8,796
Pediatrix Medical Group, Inc. *	1,200		57,780
			348,284
Homebuilders - 2.53%
Beazer Homes USA, Inc.	900		41,094
Hovnanian Enterprises, Inc., Class A *	900		31,959
KB Home	1,100		56,859
M.D.C. Holdings, Inc.	1,900		108,547
M/I Homes, Inc.	2,000		74,560
NVR, Inc. *	100		59,500
Ryland Group, Inc.	1,700		89,675
Standard Pacific Corp.	1,300		33,358
Toll Brothers, Inc. *	700		22,540
			518,092
Hotels & Restaurants - 2.84%
Applebee's International, Inc.	2,200		50,050
Brinker International, Inc.	2,000		90,940
CBRL Group, Inc.	1,800		77,202
CEC Entertainment, Inc. *	900		35,829
IHOP Corp.	200		10,522
Jack in the Box, Inc. *	1,900		116,831
O'Charley's, Inc. *	1,200		24,120
OSI Restaurant Partners, Inc.	1,700		66,470

Page 3

JOHN HANCOCK FUNDS III

PORTFOLIO OF INVESTMENTS - November 30, 2006 (Unaudited) - continued
(showing percentage of total net assets)

Value Opportunities Fund (continued)
	Shares or
	Principal
	Amount		Value
COMMON STOCKS (continued)
Hotels & Restaurants (continued)
Papa Johns International, Inc. *	1,000	$	31,000
RARE Hospitality International, Inc. *	1,200		38,844
Ruby Tuesday, Inc.	1,500		40,485
			582,293
Household Appliances - 0.03%
Technical Olympic USA, Inc.	600		5,592
Household Products - 0.96%
Blyth, Inc.	2,900		73,718
Church & Dwight, Inc.	200		8,382
Energizer Holdings, Inc. *	1,200		79,308
Tupperware Brands Corp.	1,700		36,091
			197,499
Industrial Machinery - 1.57%
AGCO Corp. *	1,900		59,337
Cummins, Inc.	300		35,976
Flowserve Corp. *	400		21,536
Lincoln Electric Holdings, Inc.	1,000		60,850
NACCO Industries, Inc., Class A	200		29,830
Rofin Sinar Technologies, Inc. *	200		11,624
Tennant Company	400		11,620
Terex Corp. *	1,100		61,622
Valmont Industries, Inc.	500		29,625
			322,020
Industrials - 0.57%
Crane Company	2,300		87,630
Fastenal Company	400		14,396
Lawson Products, Inc.	300		15,069
			117,095
Insurance - 13.02%
Alfa Corp.	700		13,566
American Financial Group, Inc.	3,800		198,398
American National Insurance Company	200		22,834
Arthur J. Gallagher & Company	300		8,787
Brown & Brown, Inc.	2,000		58,000
Commerce Group, Inc.	3,700		112,887
Donegal Group, Inc.	400		7,676
Erie Indemnity Company., Class A	1,400		78,792
FBL Financial Group, Inc., Class A	600		23,640
First American Corp.	4,300		166,023
Great American Financial Resources, Inc.	600		13,302
Hanover Insurance Group, Inc.	600		28,428
Harleysville Group, Inc.	300		10,668
HCC Insurance Holdings, Inc.	1,100		33,209
Hilb, Rogal and Hamilton Company	600		24,960
Kansas City Life Insurance Company	200		10,308
LandAmerica Financial Group, Inc.	1,800		109,998
Mercury General Corp.	2,000		106,900
National Western Life Insurance Company,
Class A *	200		45,692
Nationwide Financial Services, Inc., Class A	3,300		171,600

Value Opportunities Fund (continued)
	Shares or
	Principal
	Amount		Value
COMMON STOCKS (continued)
Insurance (continued)
Navigators Group, Inc. *	300	$	13,881
Odyssey Re Holdings Corp.	300		10,581
Ohio Casualty Corp.	300		8,763
Old Republic International Corp.	11,100		250,305
Philadelphia Consolidated Holding Corp. *	800		35,640
PMI Group, Inc.	5,000		216,550
Presidential Life Corp.	500		11,195
Protective Life Corp.	2,700		127,494
Radian Group, Inc.	2,600		138,346
Reinsurance Group of America, Inc.	2,400		132,408
Safety Insurance Group, Inc.	400		20,952
Selective Insurance Group, Inc.	500		27,760
Stancorp Financial Group, Inc.	2,000		90,820
Stewart Information Services Corp.	1,800		70,308
Transatlantic Holdings, Inc.	1,300		80,444
Triad Guaranty, Inc. *	1,000		53,800
United Fire & Casualty Company	600		21,180
Universal American Financial Corp. *	400		7,500
W.R. Berkley Corp.	3,000		105,330
			2,668,925
Leisure Time - 0.44%
Brunswick Corp.	1,700		55,029
Polaris Industries, Inc.	800		36,016
			91,045
Life Sciences - 0.29%
Pharmaceutical Product Development, Inc.	1,900		60,021
Manufacturing - 1.22%
Acuity Brands, Inc.	800		42,136
Barnes Group, Inc.	100		2,095
Kaydon Corp.	700		27,965
Lancaster Colony Corp.	600		25,644
Nordson Corp.	900		43,461
Snap-on, Inc.	300		14,250
SPX Corp.	800		48,888
Stanley Works	900		45,918
			250,357
Medical-Hospitals - 0.50%
Tenet Healthcare Corp. *	5,000		35,450
Universal Health Services, Inc., Class B	1,200		66,252
			101,702
Metal & Metal Products - 0.76%
Mueller Industries, Inc.	1,400		47,740
Reliance Steel & Aluminum Company	2,100		80,829
Timken Company	900		26,766
			155,335
Mobile Homes - 0.58%
Thor Industries, Inc.	1,800		81,468
Winnebago Industries, Inc.	1,100		38,280
			119,748

Page 4

JOHN HANCOCK FUNDS III

PORTFOLIO OF INVESTMENTS - November 30, 2006 (Unaudited) - continued
(showing percentage of total net assets)

Value Opportunities Fund (continued)
	Shares or
	Principal
	Amount		Value
COMMON STOCKS (continued)
Newspapers - 0.44%
Lee Enterprises, Inc.	400	$	11,560
The New York Times Company, Class A	3,300		79,662
			91,222
Office Furnishings & Supplies - 0.99%
Global Imaging Systems, Inc. *	1,300		27,703
IKON Office Solutions, Inc.	3,300		53,361
OfficeMax, Inc.	1,800		84,726
United Stationers, Inc. *	800		37,104
			202,894
Paper - 0.17%
P.H. Glatfelter Company	500		7,410
Temple-Inland, Inc.	700		27,370
			34,780
Petroleum Services - 0.06%
Universal Compression Holdings, Inc. *	200		12,590
Pharmaceuticals - 1.15%
King Pharmaceuticals, Inc. *	14,300		236,379
Plastics - 0.10%
Spartech Corp.	700		20,944
Publishing - 0.30%
Consolidated Graphics, Inc. *	400		23,400
Valassis Communications, Inc. *	2,400		37,104
			60,504
Railroads & Equipment - 0.14%
GATX Corp.	600		27,708
Real Estate - 2.42%
American Home Mortgage Investment Corp.,
REIT	1,600		56,592
Annaly Mortgage Management, Inc., REIT	6,700		93,666
Anthracite Capital, Inc., REIT	700		8,869
Anworth Mortgage Asset Corp., REIT	1,900		17,936
Apartment Investment & Management
Company, Class A, REIT	200		11,528
Impac Mortgage Holdings, Inc., REIT	1,200		11,772
iStar Financial, Inc., REIT	500		23,395
MFA Mortgage Investments, Inc., REIT	1,900		14,782
New Century Financial Corp., REIT	1,500		54,090
Redwood Trust, Inc., REIT	1,400		80,094
Thornburg Mortgage, Inc., REIT	4,900		123,823
			496,547
Retail Grocery - 2.51%
Ingles Markets, Inc.	1,900		56,563
Nash-Finch Company	1,200		31,740
Ruddick Corp.	2,300		64,124
Smart & Final, Inc. *	1,900		34,314
SUPERVALU, Inc.	8,600		294,636
Weis Markets, Inc.	800		32,336
			513,713

Value Opportunities Fund (continued)
	Shares or
	Principal
	Amount		Value
COMMON STOCKS (continued)
Retail Trade - 9.90%
99 Cents Only Stores *	1,600	$	17,680
Abercrombie & Fitch Company., Class A	400		26,976
American Eagle Outfitters, Inc.	400		18,072
AnnTaylor Stores Corp. *	200		6,900
Big Lots, Inc. *	2,900		64,699
BJ's Wholesale Club, Inc. *	3,600		116,280
Borders Group, Inc.	1,000		22,900
Casey's General Stores, Inc.	1,100		27,379
Cash America International, Inc.	500		22,070
Cato Corp., Class A	1,000		23,740
Circuit City Stores, Inc.	1,300		32,448
Claire's Stores, Inc.	1,300		41,483
Dillard's, Inc., Class A	1,500		53,355
Dollar General Corp.	3,500		54,390
Dollar Tree Stores, Inc. *	8,700		261,087
Family Dollar Stores, Inc.	6,200		172,918
Foot Locker, Inc.	2,400		54,960
Fossil, Inc. *	3,500		73,570
Longs Drug Stores Corp.	800		32,872
NBTY, Inc. *	4,400		159,940
Pacific Sunwear of California, Inc. *	1,900		37,392
Payless ShoeSource, Inc. *	900		28,071
Pier 1 Imports, Inc.	2,500		16,625
RadioShack Corp.	2,900		50,837
Regis Corp.	1,200		45,972
Rent-A-Center, Inc. *	5,300		144,902
Ross Stores, Inc.	1,400		43,386
Sonic Automotive, Inc.	3,100		88,474
Steven Madden, Ltd. *	500		18,385
Talbots, Inc.	1,600		39,872
The Buckle, Inc.	600		28,194
The Yankee Candle, Inc.	800		27,248
Tween Brands, Inc. *	1,300		54,496
United Rentals, Inc. *	1,900		47,614
Williams-Sonoma, Inc.	1,400		44,408
Zale Corp. *	1,000		30,770
			2,030,365
Sanitary Services - 0.24%
Allied Waste Industries, Inc. *	3,800		48,184
Semiconductors - 0.32%
Intersil Corp., Class A	700		17,339
Novellus Systems, Inc. *	1,000		31,220
QLogic Corp. *	800		17,800
			66,359
Software - 0.86%
BEA Systems, Inc. *	4,700		64,719
BMC Software, Inc. *	800		26,048
Citrix Systems, Inc. *	1,600		45,984
EPIQ Systems, Inc. *	600		9,372
JDA Software Group, Inc. *	600		8,580

Page 5

JOHN HANCOCK FUNDS III

PORTFOLIO OF INVESTMENTS - November 30, 2006 (Unaudited) - continued
(showing percentage of total net assets)

Value Opportunities Fund (continued)
		Shares or
		Principal
		Amount		Value
COMMON STOCKS (continued)
Software (continued)
Keane, Inc. *		1,800	$	22,320
				177,023
Steel - 0.14%
Worthington Industries, Inc.		1,500		27,750
Telecommunications Equipment &
Services - 0.60%
Commscope, Inc. *		900		27,153
Polycom, Inc. *		2,000		57,680
Tellabs, Inc. *		3,800		38,152
				122,985
Telephone - 1.19%
Atlantic Tele-Network, Inc.		500		14,200
CenturyTel, Inc.		5,400		229,770
				243,970
Tires & Rubber - 0.30%
Goodyear Tire & Rubber Company *		3,700		62,345
Tobacco - 0.34%
Schweitzer Mauduit International, Inc.		400		9,916
Universal Corp.		1,300		60,541
				70,457
Transportation - 0.51%
Overseas Shipholding Group, Inc.		1,200		69,072
Saia, Inc. *		1,400		34,706
				103,778
Travel Services - 0.47%
Sabre Holdings Corp.		3,500		96,005
Trucking & Freight - 1.35%
Arkansas Best Corp.		1,900		72,010
EGL, Inc. *		700		22,358
Navistar International Corp. *		1,200		38,388
Oshkosh Truck Corp.		300		14,403
Ryder Systems, Inc.		1,600		83,472
Swift Transportation, Inc. *		1,600		45,392
				276,023
TOTAL COMMON STOCKS (Cost $18,364,693)			$	19,765,233
REPURCHASE AGREEMENTS - 6.10%
Repurchase Agreement with State
Street Corp. dated 11/30/2006 at
3.95% to be repurchased at
$1,249,137 on 12/01/2006,
collateralized by $1,225,000
Federal Home Loan Bank, 5.375%
due 05/15/2019 (valued at
$1,277,063, including interest) (c)	$	1,249,000	$	1,249,000
TOTAL REPURCHASE AGREEMENTS
(Cost $1,249,000)			$	1,249,000

Total Investments (Value Oportunities Fund)
(Cost $19,613,693) - 102.52%	$	21,014,233
Liabilities in Excess of Other Assets - (2.52)%		(515,544)
TOTAL NET ASSETS - 100.00%	$	20,498,689

Page 6

Footnotes

Percentages are states as a percent of net assets.

Key to Security Abbreviations and Legend

REIT – Real Estate Investment Trust
*          Non-Income Producing
(c)        Investment is an affiliate of the Trust’s subadvisor or custodian bank

Page 7

JOHN HANCOCK FUNDS III
Notes to Financial Statements (Unaudited)
The following is a summary of open futures contracts at November 30, 2006:
					Unrealized
					Appreciation
Fund	Open Contracts	Number of Contracts	Position	Expiration Date	(Depreciation)
Value Opportunities	Russell 2000 Mini Index	4	Long	Dec 2006	($173)
					($173)

At November 30, 2006, the aggregate cost of investments was the same for federal income tax and financial statement purposes. The net unrealized appreciation/(depreciation) of investment securities for federal income tax purposes was as follows:

	Unrealized	Unrealized	Net Unrealized
Fund	Appreciation	(Depreciation)	Appreciation/ (Depreciation)
Value Opportunities	1,717,298	(316,758)	1,400,540

Page 8

JOHN HANCOCK FUNDS III
PORTFOLIO OF INVESTMENTS - November 30, 2006 (Unaudited)
(showing percentage of total net assets)

U.S. Core Fund
	Shares or
	Principal
	Amount		Value
COMMON STOCKS - 95.04%
Advertising - 0.09%
Omnicom Group, Inc.	200	$	20,432
Aerospace - 1.91%
Boeing Company	400		35,412
General Dynamics Corp.	400		29,936
Lockheed Martin Corp.	1,200		108,540
Northrop Grumman Corp.	1,300		87,009
Raytheon Company	600		30,624
United Technologies Corp.	1,900		122,607
			414,128
Agriculture - 0.45%
Archer-Daniels-Midland Company	2,800		98,280
Aluminum - 0.47%
Alcoa, Inc.	3,300		102,861
Amusement & Theme Parks - 0.65%
Walt Disney Company	4,300		142,115
Apparel & Textiles - 0.42%
Jones Apparel Group, Inc.	300		10,080
Liz Claiborne, Inc.	600		25,650
Mohawk Industries, Inc. *	100		7,743
VF Corp.	600		47,034
			90,507
Auto Parts - 0.56%
AutoZone, Inc. *	500		56,805
Johnson Controls, Inc.	800		65,064
			121,869
Auto Services - 0.21%
AutoNation, Inc. *	2,200		45,342
Automobiles - 0.94%
Ford Motor Company	10,500		85,365
General Motors Corp.	1,600		46,768
PACCAR, Inc.	1,100		71,830
			203,963
Banking - 3.39%
Bank of America Corp.	6,200		333,870
Bank of New York Company, Inc.	1,200		42,648
BB&T Corp.	1,200		51,612
Comerica, Inc.	800		46,600
Fifth Third Bancorp	700		27,601
KeyCorp	400		14,440
National City Corp.	3,800		137,180
US Bancorp	1,500		50,460
Wells Fargo & Company (c)	900		31,716
			736,127
Biotechnology - 0.29%
Amgen, Inc. *	200		14,200
Applera Corp.	900		32,796
Biogen Idec, Inc. *	300		15,678
			62,674

U.S. Core Fund (continued)
	Shares or
	Principal
	Amount		Value
COMMON STOCKS (continued)
Broadcasting - 0.44%
CBS Corp., Class B	400	$	11,900
News Corp.	4,100		84,460
			96,360
Building Materials & Construction - 0.31%
American Standard Companies, Inc.	900		40,329
Masco Corp.	900		25,821
			66,150
Business Services - 1.71%
Affiliated Computer Services, Inc., Class A *	600		30,330
Computer Sciences Corp. *	800		41,760
Electronic Data Systems Corp.	900		24,426
First Data Corp.	2,200		55,550
H & R Block, Inc.	500		12,000
Manpower, Inc.	700		49,700
Moody's Corp.	1,400		97,272
Pitney Bowes, Inc.	800		36,872
Robert Half International, Inc.	600		23,154
			371,064
Cable and Television - 0.61%
Comcast Corp., Class A *	3,000		121,380
DIRECTV Group, Inc. *	500		11,375
			132,755
Chemicals - 0.54%
Air Products & Chemicals, Inc.	400		27,656
E.I. Du Pont De Nemours & Company	1,100		51,623
PPG Industries, Inc.	600		38,580
			117,859
Commercial Services - 0.17%
Western Union Company *	1,600		36,480
Computers & Business Equipment - 3.54%
CDW Corp.	500		35,250
Cisco Systems, Inc. *	9,300		249,984
Cognizant Technology Solutions Corp.,
Class A *	300		24,468
Dell, Inc. *	7,200		196,128
Hewlett-Packard Company	2,300		90,758
International Business Machines Corp.	1,000		91,920
Lexmark International, Inc. *	1,000		68,980
Network Appliance, Inc. *	300		11,763
			769,251
Construction Materials - 0.09%
Martin Marietta Materials, Inc.	200		19,862
Containers & Glass - 0.06%
Pactiv Corp. *	400		13,780
Cosmetics & Toiletries - 0.81%
Avon Products, Inc.	1,400		45,696
Colgate-Palmolive Company	500		32,525
Estee Lauder Companies, Inc., Class A	600		24,774

Page 1

JOHN HANCOCK FUNDS III
PORTFOLIO OF INVESTMENTS - November 30, 2006 (Unaudited) - continued
(showing percentage of total net assets)

U.S. Core Fund (continued)
	Shares or
	Principal
	Amount		Value
COMMON STOCKS (continued)
Cosmetics & Toiletries (continued)
Kimberly-Clark Corp.	1,100	$	73,117
			176,112
Crude Petroleum & Natural Gas - 0.85%
Apache Corp.	200		13,986
Devon Energy Corp.	500		36,685
Marathon Oil Corp.	400		37,752
Occidental Petroleum Corp.	1,900		95,646
			184,069
Drugs & Health Care - 0.16%
Wyeth	700		33,796
Electrical Equipment - 0.76%
Emerson Electric Company	1,900		164,730
Electrical Utilities - 0.14%
CenterPoint Energy, Inc.	1,000		16,350
The AES Corp. *	600		14,022
			30,372
Electronics - 0.18%
Agilent Technologies, Inc. *	400		12,736
Amphenol Corp., Class A	200		13,626
Thermo Electron Corp. *	300		13,149
			39,511
Financial Services - 11.68%
Bear Stearns Companies, Inc.	400		60,992
Charles Schwab Corp.	1,900		34,846
CIT Group, Inc.	600		31,206
Citigroup, Inc.	17,000		843,030
Countrywide Financial Corp.	300		11,916
E*TRADE Financial Corp. *	100		2,407
Federal Home Loan Mortgage Corp.	1,400		94,024
Federal National Mortgage Association	3,400		193,902
Federated Investors, Inc., Class B	500		16,590
Fidelity National Information Services, Inc.	483		19,272
Fiserv, Inc. *	500		25,555
Goldman Sachs Group, Inc.	1,200		233,760
Janus Capital Group, Inc.	500		10,130
JP Morgan Chase & Company	7,300		337,844
Lehman Brothers Holdings, Inc.	900		66,303
Mellon Financial Corp.	1,200		48,276
Merrill Lynch & Company, Inc.	1,700		148,631
Morgan Stanley	1,900		144,704
PNC Financial Services Group, Inc.	800		56,552
SEI Investments Company	100		5,819
State Street Corp. (c)	600		37,278
T. Rowe Price Group, Inc. (c)	300		12,999
Washington Mutual, Inc.	2,300		100,464
			2,536,500
Food & Beverages - 2.98%
Campbell Soup Company	600		22,842
ConAgra Foods, Inc.	600		15,420
Dean Foods Company *	500		21,410

U.S. Core Fund (continued)
	Shares or
	Principal
	Amount		Value
COMMON STOCKS (continued)
Food & Beverages (continued)
General Mills, Inc.	200	$	11,190
H.J. Heinz Company	1,100		48,895
Kraft Foods, Inc., Class A	2,400		84,120
Pepsi Bottling Group, Inc.	700		21,924
PepsiCo, Inc.	100		6,197
Sara Lee Corp.	1,500		24,870
Starbucks Corp. *	6,200		218,798
Sysco Corp.	400		14,340
The Coca-Cola Company	2,600		121,758
Tyson Foods, Inc., Class A	2,200		34,958
			646,722
Healthcare Products - 2.38%
Baxter International, Inc.	300		13,422
Becton, Dickinson & Company	800		57,376
Biomet, Inc.	600		22,686
Johnson & Johnson	5,500		362,505
Stryker Corp.	600		31,116
Varian Medical Systems, Inc. *	300		14,766
Zimmer Holdings, Inc. *	200		14,592
			516,463
Healthcare Services - 3.61%
Cardinal Health, Inc.	2,400		155,088
Caremark Rx, Inc.	400		18,920
Express Scripts, Inc. *	1,200		81,840
Health Net, Inc. *	300		13,842
IMS Health, Inc.	400		10,988
Laboratory Corp. of America Holdings *	200		14,160
Lincare Holdings, Inc. *	400		15,068
McKesson Corp.	2,700		133,380
Quest Diagnostics, Inc.	1,600		85,072
UnitedHealth Group, Inc.	5,200		255,216
			783,574
Holdings Companies/Conglomerates - 0.20%
Loews Corp.	100		3,992
Textron, Inc.	400		38,980
			42,972
Homebuilders - 0.28%
Centex Corp.	200		11,068
KB Home	300		15,507
Lennar Corp., Class A	400		21,000
Pulte Homes, Inc.	400		13,496
			61,071
Hotels & Restaurants - 0.28%
Marriott International, Inc., Class A	600		27,090
McDonald's Corp.	500		20,985
Yum! Brands, Inc.	200		12,238
			60,313
Household Appliances - 0.24%
Whirlpool Corp.	600		51,180

Page 2

JOHN HANCOCK FUNDS III
PORTFOLIO OF INVESTMENTS - November 30, 2006 (Unaudited) - continued
(showing percentage of total net assets)

U.S. Core Fund (continued)
	Shares or
	Principal
	Amount		Value
COMMON STOCKS (continued)
Household Products - 0.13%
Energizer Holdings, Inc. *	200	$	13,218
Newell Rubbermaid, Inc.	500		14,245
			27,463
Industrial Machinery - 1.21%
Caterpillar, Inc.	1,300		80,639
Cummins, Inc.	200		23,984
Deere & Company	500		48,000
Dover Corp.	300		15,090
Parker-Hannifin Corp.	400		33,392
Terex Corp. *	600		33,612
W.W. Grainger, Inc.	400		28,944
			263,661
Industrials - 0.15%
Fastenal Company	900		32,391
Insurance - 4.68%
AFLAC, Inc.	2,900		128,006
Allstate Corp.	1,700		107,916
Ambac Financial Group, Inc.	600		51,384
American International Group, Inc.	2,600		182,832
Aon Corp.	1,400		49,952
Brown & Brown, Inc.	400		11,600
Chubb Corp.	400		20,704
CIGNA Corp.	100		12,605
First American Corp.	300		11,583
Hartford Financial Services Group, Inc.	200		17,152
Lincoln National Corp.	800		50,872
MBIA, Inc.	500		34,825
MGIC Investment Corp.	500		28,980
Old Republic International Corp.	1,100		24,805
PMI Group, Inc.	800		34,648
Principal Financial Group, Inc.	100		5,775
Progressive Corp.	3,200		72,160
Radian Group, Inc.	500		26,605
St. Paul Travelers Companies, Inc.	500		25,905
Torchmark Corp.	500		31,610
Transatlantic Holdings, Inc.	200		12,376
UnumProvident Corp.	1,700		34,816
W.R. Berkley Corp.	1,100		38,621
			1,015,732
International Oil - 0.86%
Anadarko Petroleum Corp., ADR	1,800		88,848
ChevronTexaco Corp.	700		50,624
ConocoPhillips	700		47,110
			186,582
Leisure Time - 0.42%
International Game Technology, Inc.	2,100		91,938
Liquor - 0.88%
Anheuser-Busch Companies, Inc.	3,600		171,036
Brown Forman Corp., Class B	300		20,835
			191,871

U.S. Core Fund (continued)
	Shares or
	Principal
	Amount		Value
COMMON STOCKS (continued)
Manufacturing - 2.32%
3M Company	500	$	40,730
Danaher Corp.	2,300		168,176
Eaton Corp.	700		53,956
Harley-Davidson, Inc.	1,200		88,524
Illinois Tool Works, Inc.	2,700		127,440
Rockwell Automation, Inc.	400		26,032
			504,858
Medical-Hospitals - 0.04%
Manor Care, Inc.	200		9,504
Office Furnishings & Supplies - 0.27%
Avery Dennison Corp.	200		13,494
Office Depot, Inc. *	1,200		45,432
			58,926
Paper - 0.21%
International Paper Company	1,000		33,100
Temple-Inland, Inc.	300		11,730
			44,830
Petroleum Services - 4.03%
Baker Hughes, Inc.	200		14,686
Exxon Mobil Corp.	11,200		860,272
			874,958
Pharmaceuticals - 10.61%
Abbott Laboratories	2,700		125,982
AmerisourceBergen Corp.	2,100		96,579
Barr Pharmaceuticals, Inc. *	400		20,432
Bristol-Myers Squibb Company	3,800		94,354
Forest Laboratories, Inc. *	4,200		204,540
King Pharmaceuticals, Inc. *	1,700		28,101
Merck & Company, Inc.	17,500		778,925
Pfizer, Inc.	34,800		956,652
			2,305,565
Photography - 0.05%
Eastman Kodak Company	400		10,408
Publishing - 0.47%
Gannett Company, Inc.	1,500		89,280
McGraw-Hill Companies, Inc., ADR	200		13,330
			102,610
Railroads & Equipment - 0.98%
Burlington Northern Santa Fe Corp.	1,200		90,192
CSX Corp.	700		25,102
Norfolk Southern Corp.	700		34,475
Union Pacific Corp.	700		63,364
			213,133
Retail Grocery - 0.97%
Safeway, Inc.	2,500		77,025
SUPERVALU, Inc.	700		23,982
The Kroger Company	5,100		109,446
			210,453

Page 3

JOHN HANCOCK FUNDS III
PORTFOLIO OF INVESTMENTS - November 30, 2006 (Unaudited) - continued
(showing percentage of total net assets)

U.S. Core Fund (continued)
	Shares or
	Principal
	Amount		Value
COMMON STOCKS (continued)
Retail Trade - 12.38%
Abercrombie & Fitch Company., Class A	200	$	13,488
American Eagle Outfitters, Inc.	300		13,554
Bed Bath & Beyond, Inc. *	1,600		62,000
Best Buy Company, Inc.	900		49,473
Circuit City Stores, Inc.	400		9,984
Costco Wholesale Corp.	2,000		104,520
Dollar General Corp.	1,500		23,310
Family Dollar Stores, Inc.	1,200		33,468
Foot Locker, Inc.	500		11,450
Gap, Inc.	600		11,232
Home Depot, Inc.	19,200		729,024
Kohl's Corp. *	1,800		125,280
Limited Brands, Inc.	1,000		31,690
Lowe's Companies, Inc.	14,200		428,272
Ross Stores, Inc.	400		12,396
Staples, Inc.	3,300		84,051
Target Corp.	300		17,427
The TJX Companies, Inc.	2,100		57,582
Walgreen Company	2,200		89,078
Wal-Mart Stores, Inc.	16,900		779,090
Williams-Sonoma, Inc.	100		3,172
			2,689,541
Sanitary Services - 0.48%
Ecolab, Inc.	600		26,610
Waste Management, Inc.	2,100		76,881
			103,491
Semiconductors - 0.32%
Intel Corp.	3,300		70,455
Software - 1.33%
BEA Systems, Inc. *	1,800		24,786
BMC Software, Inc. *	400		13,024
Citrix Systems, Inc. *	900		25,866
Intuit, Inc. *	1,000		31,480
Microsoft Corp.	2,000		58,660
Oracle Corp. *	7,100		135,113
			288,929
Steel - 0.30%
Nucor Corp.	1,100		65,835
Telecommunications Equipment &
Services - 0.79%
QUALCOMM, Inc.	4,700		171,973
Telephone - 5.86%
AT&T, Inc.	13,100		444,221
BellSouth Corp.	7,000		312,130
CenturyTel, Inc.	600		25,530
Harris Corp.	300		12,633
Qwest Communications International, Inc. *	4,100		31,529
Verizon Communications, Inc.	12,800		447,232
			1,273,275

U.S. Core Fund (continued)
		Shares or
		Principal
		Amount		Value
COMMON STOCKS (continued)
Tobacco - 1.38%
Altria Group, Inc.		2,500	$	210,525
Reynolds American, Inc.		600		38,544
UST, Inc.		900		50,382
				299,451
Toys, Amusements & Sporting Goods - 0.05%
Mattel, Inc.		500		10,975
Transportation - 0.72%
C.H. Robinson Worldwide, Inc.		1,600		70,400
Expeditors International of Washington, Inc.		1,900		85,956
				156,356
Trucking & Freight - 1.75%
Fedex Corp.		3,100		357,833
J.B. Hunt Transport Services, Inc.		1,000		21,890
				379,723
TOTAL COMMON STOCKS (Cost $19,143,422)			$	20,644,131
REPURCHASE AGREEMENTS - 9.39%
Repurchase Agreement with State
Street Corp. dated 11/30/2006 at
3.95% to be repurchased at
$2,041,224 on 12/01/2006,
collateralized by $2,000,000
Federal Home Loan Bank, 5.375%
due 05/15/2019 (valued at
$2,085,000, including interest) (c)	$	2,041,000	$	2,041,000
TOTAL REPURCHASE AGREEMENTS
(Cost $2,041,000)			$	2,041,000
Total Investments (U.S. Core Fund)
(Cost $21,184,422) - 104.43%			$	22,685,131
Liabilities in Excess of Other Assets - (4.43)%				(963,084)
TOTAL NET ASSETS - 100.00%			$	21,722,047

Page 4

Footnotes

Percentages are states as a percent of net assets.

Key to Security Abbreviations and Legend

ADR – American Depositary Receipts

* Non-Income Producing

(c) Investment is an affiliate of the Trust’s subadvisor or custodian bank

Page 5

JOHN HANCOCK FUNDS III
Notes to Financial Statements (Unaudited)
The following is a summary of open futures contracts at November 30, 2006:
					Unrealized
					Appreciation
Fund	Open Contracts	Number of Contracts	Position	Expiration Date	(Depreciation)
U.S. Core	S&P 500 Index	1	Long	Dec 2006	($832)
					($832)

At November 30, 2006, the aggregate cost of investments was the same for federal income tax and financial statement purposes. The net unrealized appreciation/(depreciation) of investment securities for federal income tax purposes was as follows:

	Unrealized	Unrealized	Net Unrealized
Fund	Appreciation	(Depreciation)	Appreciation/ (Depreciation)
U.S. Core	1,638,498	(137,789)	1,500,709

Page 6

JOHN HANCOCK FUNDS III
PORTFOLIO OF INVESTMENTS - November 30, 2006 (Unaudited)
(showing percentage of total net assets)

International Core Fund
	Shares or
	Principal
	Amount		Value
COMMON STOCKS - 93.97%
Australia - 2.06%
Amcor, Ltd.	194,168	$	1,140,664
Australia and New Zealand Banking Group,
Ltd.	139,547		3,134,801
BHP Billiton, Ltd. (a)	266,474		5,518,999
Commonwealth Bank of Australia, Ltd.	52,504		1,966,313
Foster's Group, Ltd.	199,357		1,053,088
Investa Property Group, Ltd.	574,159		1,097,121
Mirvac Group, Ltd.	487,145		2,038,644
Qantas Airways, Ltd., ADR	300,772		1,175,573
Rio Tinto, Ltd. (a)	38,823		2,274,574
Stockland Company, Ltd. (a)	134,706		839,211
Telstra Corp., Ltd. (a)	659,574		1,963,415
Woolworths, Ltd. (a)	112,576		1,955,580
Zinifex, Ltd.	165,755		2,228,889
			26,386,872
Austria - 0.41%
Austrian Airlines AG *	244		2,330
Bohler Uddeholm AG	14,732		935,745
Oesterreichische Elektrizitaets AG, Class A	7,368		369,319
OMV AG	27,834		1,494,826
Voestalpine AG	49,032		2,433,658
			5,235,878
Belgium - 1.04%
Bekaert SA	47		5,450
Belgacom SA (a)	30,050		1,288,679
Colruyt SA	3,066		580,985
Delhaize Group	21,021		1,673,888
Dexia	134,959		3,686,627
Fortis Group SA	103,857		4,240,388
UCB SA	29,180		1,853,450
			13,329,467
Bermuda - 0.09%
Frontline, Ltd. (a)	7,613		271,575
Noble Group, Ltd. (a)	257,361		180,798
Ship Finance International, Ltd. (a)	380		8,455
Yue Yuen Industrial Holdings, Ltd.	201,218		636,393
			1,097,221
Canada - 1.89%
Alcan Aluminum, Ltd.	63,300		3,037,579
BCE, Inc.	69,288		1,702,833
Canadian Imperial Bank of Commerce	50,970		4,005,790
Canadian Natural Resources, Ltd.	98,737		5,354,905
EnCana Corp.	50,297		2,615,876
Magna International, Inc.	11,800		907,422
National Bank of Canada	31,465		1,747,826
Petro-Canada	105,667		4,766,981
			24,139,212
Denmark - 0.19%
A P Moller- Maersk AS, Series A	121		1,099,961
A P Moller- Maersk AS	1		9,375

International Core Fund (continued)
	Shares or
	Principal
	Amount		Value
COMMON STOCKS (continued)
Denmark (continued)
Danske Bank AS	25,519	$	1,116,785
DSV AS	1,303		230,642
			2,456,763
Finland - 2.33%
Amer Sports Oyj (a)	24,700		564,014
Elcoteq SE	14,700		211,499
Fortum Corp. Oyj	153,089		4,480,293
Kesko Oyj	40,267		2,062,157
Metso Oyj	42,917		1,979,334
Neste Oil Oyj (a)	30,900		996,511
Nokia AB Oyj	321,135		6,468,529
OKO Bank - A (a)	33,400		539,010
Oriola-KD Oyj *	1,300		4,499
Outokumpu Oyj	91,904		3,083,295
Rautaruukki Oyj	81,209		2,960,323
Sampo Oyj, A Shares	207,058		5,236,038
YIT Oyj	47,166		1,227,123
			29,812,625
France - 10.93%
Air France	38,852		1,552,289
Arkema * (a)	187		9,311
BNP Paribas SA (a)	235,022		25,352,815
Cap Gemini SA	41,291		2,519,777
Carrefour SA (a)	48,225		3,019,023
Casino Guich-Perrachon SA	34,335		3,137,014
Compagnie De Saint Gobain SA (a)	48,722		3,892,622
Compagnie Generale des Etablissements
Michelin, Class B	30,545		2,657,077
Credit Agricole SA	160,184		6,790,815
Groupe Danone SA	17,895		2,757,388
Lafarge SA	25,263		3,674,952
L'Oreal SA (a)	33,875		3,418,409
Pernod-Ricard SA	6		1,330
Peugeot SA (a)	95,313		5,950,435
Pinault-Printemps-Redoute SA	6,688		1,021,666
Publicis Groupe SA (a)	42,539		1,648,267
Renault Regie Nationale SA	88,641		10,637,592
Sanofi-Aventis (a)	61,543		5,410,686
Schneider Electric SA (a)	14,465		1,568,073
Societe Generale	39,284		6,589,711
Suez SA (a)	109,899		5,282,772
Total SA (a)	565,494		40,155,736
Vallourec SA	9,575		2,574,939
			139,622,699
Germany - 7.73%
Adidas-Salomon AG	12,832		632,821
Allianz AG	17,479		3,406,013
Altana AG (a)	74,424		4,346,307
Bayerische Motoren Werke (BMW) AG	89,416		4,939,632
Commerzbank AG	80,470		2,899,237
DaimlerChrysler AG	65,719		3,820,512

Page 1

JOHN HANCOCK FUNDS III
PORTFOLIO OF INVESTMENTS - November 30, 2006 (Unaudited) - continued
(showing percentage of total net assets)

International Core Fund (continued)
	Shares or
	Principal
	Amount		Value
COMMON STOCKS (continued)
Germany (continued)
Deutsche Bank AG (c)	103,964	$	13,423,577
Deutsche Lufthansa AG	64,204		1,600,590
Deutsche Post AG	132,636		3,957,346
E.ON AG	64,106		8,242,357
Fresenius AG	8,216		1,645,773
Heidelberger Druckmaschinen AG	214		9,305
Henkel KGaA	5,400		679,405
Hochtief AG	26,682		1,792,790
KarstadtQuelle AG * (a)	24,188		674,527
MAN AG	47,990		4,581,240
Merck & Company AG	8,617		946,692
Metro AG	30,156		1,881,453
Muenchener Rueckversicherungs-
Gesellschaft AG	78,115		12,740,887
Puma AG	6,294		2,280,673
Salzgitter AG	26,934		3,241,570
Solarworld AG (a)	13,722		838,839
Suedzucker AG (a)	71,197		1,740,936
Thyssen Krupp AG	237,832		9,190,094
TUI AG (a)	114,133		2,412,458
Volkswagen AG (a)	62,476		6,814,112
			98,739,146
Hong Kong - 0.44%
CLP Holdings, Ltd.	289,404		1,912,456
Hong Kong Electric Holdings, Ltd.	261,854		1,235,518
Hong Kong Exchange & Clearing, Ltd.	256,500		2,258,924
MTR Corp, Ltd.	81,500		202,855
			5,609,753
Ireland - 0.78%
Anglo Irish Bank Corp. PLC	415		7,897
Bank of Ireland	401		8,614
CRH PLC	107,972		4,073,367
DCC PLC	30,714		936,751
Depfa Bank PLC	228,308		4,150,675
Kerry Group PLC	34,358		831,478
			10,008,782
Italy - 3.02%
Banca Monte dei Paschi Siena SpA (a)	366,111		2,342,449
Banco Popolare Di Verona e Novara SpA (a)	119,711		3,368,523
Benetton Group SpA (a)	48,523		886,660
Enel SpA (a)	207,561		2,122,073
Eni SpA	647,064		21,210,740
Fiat SpA - RNC *	39,512		705,759
Fiat SpA * (a)	120,259		2,234,168
Fondiaria-Sai SpA	20,600		709,960
Impregilo SpA *	173,107		939,428
Italcementi SpA	36,738		621,135
UniCredito Italiano SpA	404,385		3,496,252
			38,637,147
Japan - 23.63%
Aderans Company, Ltd. (a)	12,565		301,186

International Core Fund (continued)
	Shares or
	Principal
	Amount		Value
COMMON STOCKS (continued)
Japan (continued)
Alps Electric Company, Ltd.	43,246	$	421,383
Asics Corp. (a)	26,000		331,187
Astellas Pharmaceuticals, Inc.	46,000		2,014,192
Canon, Inc. (a)	186,500		9,876,947
Central Japan Railway Company, Ltd.	148		1,600,900
Chubu Electric Power Company, Inc. (a)	163,099		4,911,600
Cosmo Oil Company, Ltd. (a)	143,000		605,114
Daiei, Inc. * (a)	90,758		1,606,093
Daiichi Sankyo Company, Ltd.	140,353		4,323,786
Daikyo, Inc. * (a)	294,888		1,523,435
Daito Trust Construction Company, Ltd.	100		5,183
Daiwa Securities Group, Inc.	268,000		3,077,501
East Japan Railway Company	310		2,178,262
Eisai Company, Ltd.	56,280		3,009,782
Elpida Memory, Inc. * (a)	31,000		1,512,980
Fanuc, Ltd.	100		9,129
Fuji Heavy Industries, Ltd. (a)	340,116		1,768,862
Fujikura, Ltd. (a)	183,000		1,615,265
Fujitsu, Ltd. (a)	172,000		1,408,030
Haseko Corp. * (a)	779,847		2,685,870
Hokkaido Electric Power Company, Inc.	50,799		1,252,831
Hokugin Financial Group, Inc. (a)	2,000		7,390
Honda Motor Company, Ltd.	738,112		26,187,774
Ishikawajima-Harima Heavy Industries
Company, Ltd.	468,769		1,509,018
Isuzu Motors, Ltd.	439,542		1,974,059
Itochu Corp.	816,047		6,602,665
Japan Tobacco, Inc.	268		1,189,720
Kansai Electric Power Company, Ltd.	167,700		4,193,951
Kao Corp.	95,050		2,566,251
Kawasaki Kisen Kaisha, Ltd. (a)	462,000		3,310,280
Kirin Brewery Company, Ltd. (a)	79,000		1,115,680
KK DaVinci Advisors * (a)	993		962,409
Komatsu, Ltd.	133,949		2,439,968
Konami Corp. (a)	51,323		1,478,934
Kubota Corp. (a)	194,000		1,710,678
Kyocera Corp.	27,300		2,468,718
Kyushu Electric Power Company, Ltd.	87,580		2,228,152
LeoPalace21 Corp.	38,590		1,299,023
Marubeni Corp.	538,824		2,746,342
Mazda Motor Corp. (a)	401,488		2,758,580
Mediceo Holdings Company, Ltd.	34,700		656,105
Mitsubishi Corp.	506,395		9,465,327
Mitsubishi Estate Company, Ltd.	158,404		3,920,348
Mitsubishi Heavy Industries, Ltd.	295,000		1,284,052
Mitsubishi Materials Corp. (a)	338,130		1,307,928
Mitsubishi Rayon Company, Ltd. (a)	219,920		1,499,628
Mitsubishi UFJ Financial Group, Inc.	891		11,411,215
Mitsui & Company, Ltd. (a)	383,560		5,244,244
Mitsui O.S.K. Lines, Ltd.	184,000		1,689,374
Mitsui Trust Holdings, Inc.	480,553		5,106,603
Mizuho Financial Group, Inc.	1,039		7,660,332

Page 2

JOHN HANCOCK FUNDS III
PORTFOLIO OF INVESTMENTS - November 30, 2006 (Unaudited) - continued
(showing percentage of total net assets)

International Core Fund (continued)
	Shares or
	Principal
	Amount		Value
COMMON STOCKS (continued)
Japan (continued)
Murata Manufacturing Company, Ltd.	29,600	$	2,023,538
NGK Spark Plug Company, Ltd. (a)	40,000		732,087
Nidec Corp.	100		7,831
Nikon Corp. (a)	69,227		1,431,746
Nintendo Company, Ltd. (a)	17,400		4,155,763
Nippon Mining Holdings, Inc.	500		3,656
Nippon Oil Corp.	99,000		705,062
Nippon Sheet Glass Company, Ltd.	145,000		644,946
Nippon Telegraph & Telephone Corp.	1,269		6,435,047
Nippon Yusen Kabushiki Kaisha	234,000		1,642,212
Nissan Diesel Motor Company, Ltd. * (a)	209,000		705,348
Nissan Motor Company, Ltd. (a)	1,125,900		13,757,103
Nomura Holdings, Inc.	142,900		2,510,272
NTT DoCoMo, Inc. (a)	3,975		6,088,396
Orix Corp.	10,247		2,810,920
Osaka Gas Company, Ltd. (a)	821,120		2,963,024
Pacific Metals Company, Ltd.	158,000		1,364,521
Pioneer Electronic Corp. (a)	80,900		1,175,416
Resona Holdings, Inc. * (a)	2,008		5,960,055
Ricoh Company, Ltd.	315,000		5,996,885
Seven & I Holdings Company, Ltd.	31,000		989,875
Shinko Electric Industries Company, Ltd.	29,167		748,357
Shinko Securities Company, Ltd.	196,000		753,063
Showa Shell Sekiyu K.K. (a)	52,000		587,227
Sojitz Holdings Corp. * (a)	367,100		1,140,437
Sony Corp.	61,500		2,437,435
Sumco Corp. (a)	23,000		1,731,568
Sumitomo Chemical Company, Ltd.	234,000		1,575,389
Sumitomo Corp.	282,596		3,971,408
Sumitomo Light Metal Industries, Ltd.	217,000		435,652
Sumitomo Metal Mining Company, Ltd. (a)	199,000		2,607,182
Sumitomo Mitsui Financial Group, Inc. (a)	109		1,150,744
Sumitomo Realty &
Development Company, Ltd.	119,000		3,799,844
Sumitomo Trust & Banking Company, Ltd.	187,448		2,016,250
Taisho Pharmaceuticals Company, Ltd. (a)	44,790		813,941
Takeda Pharmaceutical Company, Ltd.	321,789		21,051,617
Teijin, Ltd.	1,000		6,482
Terumo Corp. (a)	20,300		825,632
The Japan Steel Works, Ltd. (a)	90,000		665,109
The Tokyo Electric Power Company, Ltd.	51,439		1,606,912
Toho Zinc Company, Ltd. * (a)	96,000		784,216
Tohoku Electric Power Company, Inc.	79,100		1,848,131
Tokyo Electron, Ltd. (a)	35,700		2,761,838
Tokyo Gas Company, Ltd.	469,397		2,331,550
Tokyo Seimitsu Company, Ltd. (a)	14,401		667,959
Tokyo Steel Manufacturing Company, Ltd.	77,300		1,146,523
TonenGeneral Sekiyu K.K. (a)	121,133		1,250,534
Toray Industries, Inc.	209,000		1,557,191
Toshiba Corp. (a)	314,000		2,013,448
Toyo Tire & Rubber Company, Ltd.	53,812		242,145
Toyota Motor Corp.	235,500		14,306,075

International Core Fund (continued)
	Shares or
	Principal
	Amount		Value
COMMON STOCKS (continued)
Japan (continued)
Ube Industries, Ltd.	2,282	$	6,793
YASKAWA Electric Corp. (a)	94,696		1,043,164
			302,021,785
Netherlands - 9.21%
ABN AMRO Holdings NV	597,495		17,993,329
Aegon NV (a)	475,478		8,631,653
Akzo Nobel NV	38,954		2,236,144
Buhrmann NV	67,998		957,593
Corio NV (a)	2,542		189,272
CSM NV (a)	31,180		1,159,349
DSM NV	34,775		1,659,622
Euronext NV (a)	25,907		2,973,338
Hagemeyer NV * (a)	189,751		903,314
Heineken Holding NV (a)	28,268		1,164,653
Heineken NV	138,273		6,747,538
ING Groep NV	617,133		26,342,674
Koninklijke Ahold NV *	255,619		2,562,566
Mittal Steel Company NV	241,209		9,947,501
Oce-Van Der Grinten NV (a)	37,046		618,482
Reed Elsevier NV (a)	213,184		3,595,852
Royal Dutch Shell PLC, A Shares (a)	327,014		11,560,766
Royal Dutch Shell PLC, A Shares (a) GBP	155,872		5,524,698
Royal Dutch Shell PLC, B Shares	216,227		7,736,291
Stork NV * (a)	12,001		592,635
TNT Post Group NV	59,827		2,520,430
Vedior NV	66,886		1,278,084
Wereldhave NV (a)	6,280		769,886
			117,665,670
Norway - 0.14%
Statoil ASA	62,968		1,749,907
Singapore - 1.08%
Ascendas., REIT * (a)	228,000		354,454
CapitaLand, Ltd. *	435,203		1,769,291
ComfortDelGro Corp., Ltd.	8,000		8,170
Cosco Corp. Singapore, Ltd.	908,600		1,300,237
DBS Group Holdings, Ltd.	330,231		4,510,912
Keppel Land, Ltd. (a)	234,538		1,006,896
K-REIT Asia *	46,908		74,755
MobileOne, Ltd.	6,000		8,274
Neptune Orient Lines, Ltd. (a)	389,488		537,103
SembCorp Industries, Ltd.	396,802		954,999
SembCorp Marine, Ltd. (a)	111,267		244,630
Singapore Press Holdings, Ltd. (a)	2,000		5,672
Singapore Technologies Engineering, Ltd.	189,683		372,617
Singapore Telecommunications, Ltd.	783,350		1,467,491
StarHub, Ltd.	304,120		458,945
United Overseas Bank, Ltd. (a)	64,000		774,319
			13,848,765
Spain - 1.24%
ACS Actividades SA	14,777		826,519
Fomento de Construcciones SA (a)	14,015		1,367,827

Page 3

JOHN HANCOCK FUNDS III
PORTFOLIO OF INVESTMENTS - November 30, 2006 (Unaudited) - continued
(showing percentage of total net assets)

International Core Fund (continued)
	Shares or
	Principal
	Amount		Value
COMMON STOCKS (continued)
Spain (continued)
Gas Natural SDG SA	39,851	$	1,627,609
Iberdrola SA (a)	97,969		4,352,047
Repsol SA (a)	213,037		7,655,692
			15,829,694
Sweden - 1.84%
Alfa Laval AB	20,200		784,871
Boliden AB	90,050		2,174,452
Electrolux AB, Series B (a)	132,773		2,496,865
Nordea Bank AB	217,400		3,073,399
Sandvik AB	138,300		1,781,095
Scania AB, Series B (a)	30,100		2,057,148
Skandinaviska Enskilda Banken AB, Series A	98,800		2,906,265
Svenska Cellulosa AB, Series B	35,394		1,737,818
Svenska Handelsbanken AB, Series A	38,800		1,047,636
Tele2 AB, Series B (a)	148,220		1,908,850
Teliasonera AB	286,500		2,169,788
Volvo AB, Series B	21,100		1,374,120
			23,512,307
Switzerland - 4.39%
ABB, Ltd.	446,288		7,217,143
Baloise Holding AG *	6,076		586,501
Compagnie Financiere
Richemont AG, Series A	20,411		1,101,107
Credit Suisse Group AG	38,980		2,581,727
Geberit AG	706		1,025,472
Logitech International SA *	250		7,365
Nestle SA	11,484		4,059,782
Novartis AG	101,499		5,925,122
Roche Holdings AG	2,498		451,980
Serono AG, Series B	1,491		1,356,984
Swiss Life Holding *	5,599		1,380,390
Swiss Re	42,915		3,669,052
UBS AG * (c)	177,044		10,660,666
Unaxis Holding AG * (a)	2,807		1,196,415
Zurich Financial Services AG	57,057		14,853,751
			56,073,457
United Kingdom - 21.53%
Alliance & Leicester PLC	95,433		2,048,298
Anglo American PLC	212,225		9,870,619
ARM Holdings PLC (a)	2,123		5,016
Arriva PLC	98,312		1,345,424
AstraZeneca Group PLC	340,032		19,751,941
Aviva PLC	240,293		3,726,144
BAE Systems PLC	200,444		1,527,468
Barclays PLC	155,290		2,080,844
Barratt Developments PLC	164,331		3,573,989
BBA Aviation PLC *	161,243		907,267
Berkeley Group Holdings PLC *	23,046		736,970
BG Group PLC	294,896		3,974,754
Biffa PLC *	111		571
Boots Group PLC	218,360		3,407,535

International Core Fund (continued)
	Shares or
	Principal
	Amount		Value
COMMON STOCKS (continued)
United Kingdom (continued)
British American Tobacco Australasia, Ltd.	76,033	$	2,154,423
British Land Company PLC	34,274		1,027,857
BT Group PLC	2,182,521		12,215,939
Burberry Group PLC	50,746		601,542
Cadbury Schweppes PLC	306,738		3,161,930
Centrica PLC	999,965		6,512,573
Cobham PLC	453,562		1,583,036
Compass Group PLC	388,415		2,195,057
Dixons Group PLC	789,738		3,032,394
EMI Group PLC	223,930		1,301,878
Fiberweb PLC *	47,989		171,036
George Wimpey PLC	381,148		4,150,369
GlaxoSmithKline PLC	1,242,321		33,048,910
Hanson PLC	139,616		2,004,152
HBOS PLC	264,049		5,412,566
Home Retail Group *	184,380		1,481,296
IMI PLC	108,521		1,111,182
Imperial Chemical Industries PLC	279,166		2,286,777
Imperial Tobacco Group PLC	228,066		8,393,398
Invensys PLC *	62,663		322,356
J Sainsbury PLC	375,943		2,953,676
Kingfisher PLC	512,023		2,449,987
Ladbrokes PLC	133,566		1,060,567
Lloyds TSB Group PLC	255,720		2,721,625
Man Group PLC	335,124		3,127,893
Marks & Spencer Group PLC	390,267		5,248,685
National Grid PLC, ADR	240,866		3,260,740
Next Group PLC	102,537		3,593,921
Northern Rock PLC	40,447		903,962
Old Mutual PLC	646,154		2,112,088
Rank Group PLC	149,952		820,852
Reckitt Benckiser PLC	27,993		1,246,838
Rio Tinto PLC	349,114		18,664,015
Royal & Sun Alliance PLC	1,171,012		3,389,586
Royal Bank of Scotland Group PLC	701,352		25,438,625
Scottish & Newcastle PLC	129,258		1,374,419
Scottish & Southern Energy PLC	57,245		1,640,093
Scottish Power PLC	231,802		3,446,133
Severn Trent PLC *	74		2,130
Smiths News PLC *	2,121		5,346
Standard Chartered PLC	41,274		1,185,768
Tate & Lyle PLC	167,909		2,631,813
Taylor Woodrow PLC	605,439		4,655,426
Tesco PLC	463,686		3,572,287
Tomkins PLC	525,325		2,467,087
United Utilities PLC	149,177		2,216,303
Vodafone Group PLC	7,653,991		20,271,141
William Morrison Supermarket PLC	599,870		3,065,226
Wolseley PLC	32,661		765,322

Page 4

JOHN HANCOCK FUNDS III
PORTFOLIO OF INVESTMENTS - November 30, 2006 (Unaudited) - continued
(showing percentage of total net assets)

International Core Fund (continued)
		Shares or
		Principal
		Amount		Value
COMMON STOCKS (continued)
United Kingdom (continued)
Xstrata PLC		127,149	$	5,708,418
				275,125,483
TOTAL COMMON STOCKS (Cost $1,007,644,748)			$ 1,200,902,633
PREFERRED STOCKS - 0.39%
Germany - 0.22%
Bayerische Motoren Werke (BMW) AG (a)		10,400		574,530
Henkel KGaA, Non-Voting		8,823		1,263,807
RWE AG, Non-Voting		89		8,498
Volkswagen AG, Non-Voting		14,465		1,005,101
				2,851,936
Italy - 0.17%
IFI-Istituto Finanziario Industriale SpA * (a)		24,500		700,122
Unipol SpA		463,153		1,429,467
				2,129,589
TOTAL PREFERRED STOCKS (Cost $3,200,482)			$	4,981,525
RIGHTS - 0.00%
Austria - 0.00%
Austrian Airlines		390		5
TOTAL RIGHTS (Cost $0)			$	5
SHORT TERM INVESTMENTS - 17.84%
State Street Navigator Securities
Lending Prime Portfolio (c)	$	227,958,540	$	227,958,540
TOTAL SHORT TERM INVESTMENTS
(Cost $227,958,540)			$	227,958,540
REPURCHASE AGREEMENTS - 4.73%
Repurchase Agreement with State
Street Corp. dated 11/30/2006 at
3.95% to be repurchased at
$60,445,632 on 12/01/2006,
collateralized by $59,350,000
Federal Home Loan Bank, 5.25%
due 04/15/2016 (valued at
$61,649,813, including interest) (c)	$	60,439,000	$	60,439,000
TOTAL REPURCHASE AGREEMENTS
(Cost $60,439,000)			$	60,439,000
Total Investments (International Core Fund)
(Cost $1,299,242,770) - 116.93%			$ 1,494,281,703
Liabilities in Excess of Other Assets - (16.93)%				(216,370,099)
TOTAL NET ASSETS - 100.00%			$ 1,277,911,604

Page 5

Footnotes

Percentages are states as a percent of net assets.

Key to Security Abbreviations and Legend

GBP – British Pound

ADR – American Depositary Receipts

REIT – Real Estate Investment Trust

* Non-Income Producing

(c) Investment is an affiliate of the Trust’s subadvisor or custodian bank

Page 6

JOHN HANCOCK FUNDS III
Notes to Financial Statements (Unaudited)
The following is a summary of open futures contracts at November 30, 2006:
					Unrealized
					Appreciation
Fund	Open Contracts	Number of Contracts	Position	Expiration Date	(Depreciation)
International Core	CAC 40 10 Euro Index	37	Long	Dec 2006	($66,519)
	DAX Index	175	Long	Dec 2006	2,125,828
	EOE Dutch Stock Index	10	Long	Dec 2006	(39,838)
	Hang Seng Stock Index	1	Long	Dec 2006	(2,012)
	IBEX 35 Index	4	Long	Dec 2006	(23,264)
	MSCI Singapore Stock Index	274	Long	Dec 2006	(23,755)
	OMX 30 Index	34	Long	Dec 2006	(19,545)
	S&P / MIB 30 Index	3	Long	Dec 2006	(8,829)
	TOPIX Index	164	Long	Dec 2006	150,428
	FTSE 100 Index	56	Short	Dec 2006	(22,103)
	S&P / Toronto Stock Exchange			Dec 2006
	60 Index	135	Short		(1,619,387)
	SPI 200 Index	79	Short	Dec 2006	(518,022)
					($67,018)

At November 30, 2006 the value of securities loaned and cash collateral was as follows:
Fund	Value of Securities Loaned	Value of Cash Collateral
International Core	$216,838,167	$227,958,540

At November 30, 2006, the aggregate cost of investments was the same for federal income tax and financial statement purposes. The net unrealized appreciation/(depreciation) of investment securities for federal income tax purposes was as follows:

	Unrealized	Unrealized	Net Unrealized
Fund	Appreciation	(Depreciation)	Appreciation/ (Depreciation)
International Core	204,819,135	(9,780,202)	195,038,933

Page 7

JOHN HANCOCK FUNDS III
PORTFOLIO OF INVESTMENTS - November 30, 2006 (Unaudited)
(showing percentage of total net assets)

Growth Opportunities Fund
	Shares or
	Principal
	Amount		Value
COMMON STOCKS - 99.94%
Aerospace - 0.39%
Alliant Techsystems, Inc. *	100	$	7,731
Orbital Sciences Corp., Class A *	400		7,248
Teledyne Technologies, Inc. *	100		4,020
			18,999
Agriculture - 0.08%
Andersons, Inc.	100		4,120
Air Freight - 0.16%
ExpressJet Holdings, Inc. *	1,000		7,900
Air Travel - 1.43%
AMR Corp. *	600		19,176
Continental Airlines, Inc., Class B *	700		28,448
US Airways Group, Inc. *	400		22,704
			70,328
Aluminum - 0.07%
Superior Essex, Inc. *	100		3,540
Apparel & Textiles - 2.98%
Bebe Stores, Inc.	200		3,982
Columbia Sportswear Company	300		17,655
Crocs, Inc. *	100		4,295
Deckers Outdoor Corp. *	200		11,160
Guess?, Inc. *	300		18,648
K-Swiss, Inc., Class A	300		9,963
Liz Claiborne, Inc.	300		12,825
Oakley, Inc.	200		3,684
Oxford Industries, Inc.	100		5,082
Phillips-Van Heusen Corp.	200		9,866
Polo Ralph Lauren Corp., Class A	100		7,820
Skechers United States of America, Inc.,
Class A *	200		5,900
The Gymboree Corp. *	500		19,900
Timberland Company., Class A *	400		12,500
Wolverine World Wide, Inc.	100		2,906
			146,186
Auto Parts - 0.85%
Keystone Automotive Industries, Inc. *	100		3,587
O'Reilly Automotive, Inc. *	1,200		38,004
			41,591
Auto Services - 0.19%
Copart, Inc. *	300		9,063
Automobiles - 0.31%
Group 1 Automotive, Inc.	300		15,297
Banking - 1.75%
BankUnited Financial Corp., Class A	200		5,100
Cullen Frost Bankers, Inc.	100		5,450
Digital Insight Corp. *	200		7,632
Downey Financial Corp.	100		7,280
Flagstar Bancorp, Inc.	100		1,505
Hancock Holding Company	100		5,372
Investors Financial Services Corp.	600		23,862
People's Bank Corp.	100		4,459

Growth Opportunities Fund (continued)
	Shares or
	Principal
	Amount		Value
COMMON STOCKS (continued)
Banking (continued)
Sterling Bancshares, Inc.	200	$	3,684
TCF Financial Corp.	500		13,060
Wilmington Trust Corp.	200		8,312
			85,716
Biotechnology - 0.63%
Cephalon, Inc. *	200		14,972
Techne Corp. *	300		16,131
			31,103
Broadcasting - 0.06%
Sinclair Broadcast Group, Inc., Class A	300		2,985
Building Materials & Construction - 0.74%
Eagle Materials, Inc.	300		12,900
EMCOR Group, Inc. *	200		11,934
Lennox International, Inc.	200		5,848
NCI Building Systems, Inc. *	100		5,518
			36,200
Business Services - 6.97%
Acxiom Corp.	200		4,984
Administaff, Inc.	200		8,416
Alliance Data Systems Corp. *	600		38,826
Brinks Company	100		5,614
Ceridian Corp. *	300		7,353
Corporate Executive Board Company	200		18,924
CSG Systems International, Inc. *	300		8,319
DST Systems, Inc. *	100		6,240
Ezcorp, Inc., Class A *	200		9,344
FactSet Research Systems, Inc.	700		37,016
Fair Isaac Corp.	200		8,324
Geo Group, Inc. *	100		3,756
Global Payments, Inc.	300		13,740
Iron Mountain, Inc. *	300		12,930
Jacobs Engineering Group, Inc. *	200		16,774
Manpower, Inc.	500		35,500
Monster Worldwide, Inc. *	600		26,190
MPS Group, Inc. *	700		10,493
On Assignment, Inc. *	100		1,092
Pre-Paid Legal Services, Inc.	300		12,456
Robert Half International, Inc.	600		23,154
Scansource, Inc. *	300		9,156
Sonicwall, Inc. *	400		4,020
Spherion Corp. *	400		2,880
Tyler Technologies, Inc. *	200		2,890
Volt Information Sciences, Inc. *	100		4,666
Watson Wyatt Worldwide, Inc., Class A	200		9,280
			342,337
Cellular Communications - 0.33%
Brightpoint, Inc. *	1,160		16,020
Chemicals - 1.54%
Airgas, Inc.	300		12,765
Albemarle Corp.	200		13,948

Page 1

JOHN HANCOCK FUNDS III
PORTFOLIO OF INVESTMENTS - November 30, 2006 (Unaudited) - continued
(showing percentage of total net assets)

Growth Opportunities Fund (continued)
	Shares or
	Principal
	Amount		Value
COMMON STOCKS (continued)
Chemicals (continued)
Hercules, Inc. *	400	$	7,452
Newmarket Corp.	200		12,556
OM Group, Inc. *	200		9,410
PolyOne Corp. *	600		4,608
W. R. Grace & Company *	800		14,696
			75,435
Colleges & Universities - 1.01%
Career Education Corp. *	600		15,150
ITT Educational Services, Inc. *	500		34,285
			49,435
Commercial Services - 0.24%
Cenveo, Inc. *	200		3,976
Pool Corp.	100		4,097
Vertrue, Inc. *	100		3,831
			11,904
Computers & Business Equipment - 2.80%
Benchmark Electronics, Inc. *	300		7,287
Brocade Communications Systems, Inc. *	1,900		17,575
CDW Corp.	500		35,250
Electronics for Imaging, Inc. *	100		2,450
Foundry Networks, Inc. *	400		5,724
Ingram Micro, Inc., Class A *	800		16,304
National Instruments Corp.	200		5,816
Plexus Corp. *	500		12,075
Sybase, Inc. *	200		4,788
Sykes Enterprises, Inc. *	200		3,446
Tech Data Corp. *	100		4,182
Western Digital Corp. *	1,100		22,572
			137,469
Construction & Mining Equipment - 0.27%
Bucyrus International, Inc., Class A	100		4,270
Joy Global, Inc.	200		8,780
			13,050
Construction Materials - 1.68%
Columbus McKinnon Corp. *	200		4,646
Comfort Systems USA, Inc.	200		2,698
Florida Rock Industries, Inc.	300		13,512
Granite Construction, Inc.	200		10,320
JLG Industries, Inc.	200		5,582
Martin Marietta Materials, Inc.	200		19,862
Simpson Manufacturing Company, Inc.	300		9,291
USG Corp. *	300		16,719
			82,630
Containers & Glass - 0.87%
Packaging Corp. of America	200		4,510
Pactiv Corp. *	1,000		34,450
Sonoco Products Company	100		3,699
			42,659
Correctional Facilities - 0.19%
Corrections Corp. of America *	200		9,090

Growth Opportunities Fund (continued)
	Shares or
	Principal
	Amount	Value
COMMON STOCKS (continued)
Cosmetics & Toiletries - 0.38%
Alberto-Culver Company *	200 $	4,014
Estee Lauder Companies, Inc., Class A	200	8,258
International Flavors & Fragrances, Inc.	100	4,711
Sally Beauty Holdings, Inc. *	200	1,852
		18,835
Crude Petroleum & Natural Gas - 0.27%
Patterson-UTI Energy, Inc.	200	5,542
Vaalco Energy, Inc. *	900	7,551
		13,093
Domestic Oil - 1.07%
Frontier Oil Corp.	500	15,820
Holly Corp.	400	21,604
Oil States International, Inc. *	200	6,962
St. Mary Land & Exploration Company	200	8,016
		52,402
Drugs & Health Care - 0.98%
Abaxis, Inc. *	400	7,724
Alpharma Inc., Class A	200	4,380
Candela Corp. *	500	6,600
CNS, Inc.	200	7,464
Enzon Pharmaceuticals, Inc. *	200	1,666
Immucor, Inc. *	100	2,690
Mannatech, Inc.	200	2,984
Molina Healthcare, Inc. *	100	3,399
OraSure Technologies, Inc. *	100	861
Parexel International Corp. *	200	5,554
West Pharmaceutical Services, Inc.	100	4,910
		48,232
Educational Services - 0.07%
Renaissance Learning, Inc.	200	3,378
Electrical Equipment - 3.09%
A.O. Smith Corp.	100	3,579
Anaren, Inc. *	200	4,110
Anixter International, Inc. *	100	5,862
Encore Wire Corp. *	400	9,864
General Cable Corp. *	400	17,000
Genlyte Group, Inc. *	100	8,486
Greatbatch, Inc. *	200	5,202
Lamson & Sessions Company *	400	8,600
Littelfuse, Inc. *	100	3,128
Molex, Inc.	700	22,400
Tektronix, Inc.	600	18,336
Watsco, Inc.	100	5,168
Wesco International, Inc. *	600	40,140
		151,875
Electrical Utilities - 0.13%
CenterPoint Energy, Inc.	400	6,540
Electronics - 2.37%
Avnet, Inc. *	300	7,437
AVX Corp.	700	10,878

Page 2

JOHN HANCOCK FUNDS III
PORTFOLIO OF INVESTMENTS - November 30, 2006 (Unaudited) - continued
(showing percentage of total net assets)

Growth Opportunities Fund (continued)
	Shares or
	Principal
	Amount		Value
COMMON STOCKS (continued)
Electronics (continued)
Daktronics, Inc.	500	$	18,090
Mentor Graphics Corp. *	500		8,455
Multi-Fineline Electronix, Inc. *	300		6,471
Rogers Corp. *	100		6,948
Supertex, Inc. *	100		4,692
Technitrol, Inc.	200		5,496
Thomas & Betts Corp. *	500		25,935
Trimble Navigation, Ltd. *	200		9,594
TTM Technologies, Inc. *	500		6,305
Zoran Corp. *	400		5,964
			116,265
Financial Services - 6.64%
A.G. Edwards, Inc.	200		11,570
Affiliated Managers Group, Inc. *	100		10,211
AmeriCredit Corp. *	200		4,690
Bankrate, Inc. *	100		3,650
Blackrock, Inc., Class A (c)	200		28,674
Federated Investors, Inc., Class B	300		9,954
IndyMac Bancorp, Inc.	200		9,190
IntercontinentalExchange, Inc. *	200		19,650
International Securities Exchange
Holdings, Inc.	100		5,318
Investment Technology Group, Inc. *	300		11,250
Jefferies Group, Inc.	600		17,394
Knight Capital Group, Inc. *	800		14,088
Leucadia National Corp.	300		8,277
Moneygram International, Inc.	800		24,400
Piper Jaffray Companies, Inc. *	200		13,014
Raymond James Financial, Inc.	550		17,330
SEI Investments Company	500		29,095
Student Loan Corp.	100		20,700
SWS Group, Inc.	100		3,237
The First Marblehead Corp.	800		59,872
World Acceptance Corp. *	100		4,539
			326,103
Food & Beverages - 0.98%
Corn Products International, Inc.	300		10,896
Flowers Foods, Inc.	100		2,664
Hansen Natural Corp. *	100		2,813
McCormick & Company, Inc.	400		15,488
MGP Ingredients, Inc.	200		4,362
Ralcorp Holdings, Inc. *	100		5,065
Seabord Corp.	1		1,678
Smithfield Foods, Inc. *	200		5,276
			48,242
Furniture & Fixtures - 0.47%
American Woodmark Corp.	100		3,899
Ethan Allen Interiors, Inc.	400		14,192
Leggett & Platt, Inc.	200		4,756
			22,847

Growth Opportunities Fund (continued)
	Shares or
	Principal
	Amount	Value
COMMON STOCKS (continued)
Healthcare Products - 2.52%
Computer Programs & Systems, Inc.	100 $	3,600
Cytyc Corp. *	300	7,866
DENTSPLY International, Inc.	500	15,965
Henry Schein, Inc. *	300	15,459
ICU Medical, Inc. *	100	4,041
IDEXX Laboratories, Inc. *	400	33,860
Owens & Minor, Inc.	200	6,206
Patterson Companies, Inc. *	200	7,422
PSS World Medical, Inc. *	400	8,376
Respironics, Inc. *	500	18,030
Thoratec Corp. *	200	2,946
		123,771
Healthcare Services - 2.17%
AMERIGROUP Corp. *	400	13,676
Apria Healthcare Group, Inc. *	500	12,485
Cerner Corp. *	100	4,807
Covance, Inc. *	200	11,974
Emdeon Corp. *	600	7,110
Health Net, Inc. *	400	18,456
Lincare Holdings, Inc. *	500	18,835
Magellan Health Services, Inc. *	100	4,398
Odyssey Healthcare, Inc. *	400	4,952
Pediatrix Medical Group, Inc. *	200	9,630
		106,323
Holdings Companies/Conglomerates - 0.30%
United Industrial Corp.	300	14,667
Homebuilders - 0.92%
Beazer Homes USA, Inc.	100	4,566
Hovnanian Enterprises, Inc., Class A *	100	3,551
KB Home	100	5,169
M.D.C. Holdings, Inc.	200	11,426
M/I Homes, Inc.	200	7,456
Ryland Group, Inc.	200	10,550
Standard Pacific Corp.	100	2,566
		45,284
Hotels & Restaurants - 2.06%
Applebee's International, Inc.	300	6,825
Brinker International, Inc.	400	18,188
CBRL Group, Inc.	100	4,289
CEC Entertainment, Inc. *	100	3,981
Choice Hotels, Inc.	200	9,120
CKE Restaurants, Inc.	400	7,376
Jack in the Box, Inc. *	100	6,149
Krispy Kreme Doughnuts, Inc. *	300	2,913
OSI Restaurant Partners, Inc.	100	3,910
Papa Johns International, Inc. *	600	18,600
Ruby Tuesday, Inc.	300	8,097
Sonic Corp. *	500	11,740
		101,188

Page 3

JOHN HANCOCK FUNDS III
PORTFOLIO OF INVESTMENTS - November 30, 2006 (Unaudited) - continued
(showing percentage of total net assets)

Growth Opportunities Fund (continued)
	Shares or
	Principal
	Amount		Value
COMMON STOCKS (continued)
Household Products - 1.26%
Church & Dwight, Inc.	100	$	4,191
Energizer Holdings, Inc. *	500		33,045
Select Comfort Corp. *	700		12,117
Tempur-Pedic International, Inc. *	400		8,432
Tupperware Brands Corp.	200		4,246
			62,031
Industrial Machinery - 5.10%
AGCO Corp. *	400		12,492
Ceradyne, Inc. *	200		10,564
Cummins, Inc.	100		11,992
Flowserve Corp. *	200		10,768
FMC Technologies, Inc. *	600		36,006
Gardner Denver, Inc. *	300		11,472
Graco, Inc.	200		8,354
Lincoln Electric Holdings, Inc.	300		18,255
Middleby Corp. *	100		10,150
Rofin Sinar Technologies, Inc. *	100		5,812
Terex Corp. *	1,400		78,428
The Manitowoc Company, Inc.	500		30,120
Valmont Industries, Inc.	100		5,925
			250,338
Industrials - 1.43%
Crane Company	300		11,430
Fastenal Company	1,200		43,188
Harsco Corp.	200		15,606
			70,224
Insurance - 2.24%
Brown & Brown, Inc.	1,300		37,700
Erie Indemnity Company., Class A	100		5,628
HCC Insurance Holdings, Inc.	200		6,038
Philadelphia Consolidated Holding Corp. *	100		4,455
PMI Group, Inc.	100		4,331
Radian Group, Inc.	100		5,321
Reinsurance Group of America, Inc.	200		11,034
Triad Guaranty, Inc. *	100		5,380
Universal American Financial Corp. *	100		1,875
W.R. Berkley Corp.	800		28,088
			109,850
Internet Content - 0.13%
Travelzoo, Inc. *	200		6,190
Internet Retail - 0.37%
PetMed Express, Inc. *	800		10,288
Priceline.com, Inc. *	200		7,898
			18,186
Internet Software - 2.46%
Akamai Technologies, Inc. *	1,600		78,192
Checkfree Corp. *	300		12,543
Digital River, Inc. *	200		11,782
RealNetworks, Inc. *	400		4,600
TIBCO Software, Inc. *	700		6,517

Growth Opportunities Fund (continued)
	Shares or
	Principal
	Amount		Value
COMMON STOCKS (continued)
Internet Software (continued)
WebEx Communications, Inc. *	200	$	7,180
			120,814
Leisure Time - 0.16%
Brunswick Corp.	100		3,237
Movie Gallery, Inc. *	100		284
Polaris Industries, Inc.	100		4,502
			8,023
Life Sciences - 0.68%
Pharmaceutical Product Development, Inc.	900		28,431
Waters Corp. *	100		5,004
			33,435
Liquor - 0.28%
Brown Forman Corp., Class B	200		13,890
Manufacturing - 1.09%
Acuity Brands, Inc.	300		15,801
Carlisle Companies, Inc.	100		8,189
Insteel Industries, Inc.	200		3,848
Kaydon Corp.	300		11,985
Nordson Corp.	200		9,658
Trinity Industries, Inc.	100		3,780
			53,261
Medical-Hospitals - 0.66%
Manor Care, Inc.	400		19,008
RehabCare Group, Inc. *	100		1,253
Universal Health Services, Inc., Class B	100		5,521
VCA Antech, Inc. *	200		6,448
			32,230
Metal & Metal Products - 2.11%
A. M. Castle & Company	100		2,652
Commercial Metals Company	900		26,145
Ladish Company, Inc. *	200		6,748
Matthews International Corp., Class A	100		4,015
Mueller Industries, Inc.	200		6,820
Reliance Steel & Aluminum Company	1,000		38,490
Timken Company	300		8,922
Titanium Metals Corp. *	300		9,591
			103,383
Mining - 0.25%
AMCOL International Corp.	200		5,552
Stillwater Mining Company *	500		6,930
			12,482
Mobile Homes - 0.97%
Thor Industries, Inc.	900		40,734
Winnebago Industries, Inc.	200		6,960
			47,694
Office Furnishings & Supplies - 0.55%
Herman Miller, Inc.	100		3,511
HNI Corp.	100		4,684
OfficeMax, Inc.	300		14,121

Page 4

JOHN HANCOCK FUNDS III
PORTFOLIO OF INVESTMENTS - November 30, 2006 (Unaudited) - continued
(showing percentage of total net assets)

Growth Opportunities Fund (continued)
	Shares or
	Principal
	Amount		Value
COMMON STOCKS (continued)
Office Furnishings & Supplies
(continued)
United Stationers, Inc. *	100	$	4,638
			26,954
Petroleum Services - 0.99%
Oceaneering International, Inc. *	300		13,083
RPC, Inc.	400		9,000
TETRA Technologies, Inc. *	200		5,168
Tidewater, Inc.	100		5,533
Universal Compression Holdings, Inc. *	100		6,295
W-H Energy Services, Inc. *	100		4,775
World Fuel Services Corp.	100		4,850
			48,704
Pharmaceuticals - 0.66%
Endo Pharmaceutical Holdings, Inc. *	400		10,844
Hi-Tech Pharmacal Company, Inc. *	100		1,425
King Pharmaceuticals, Inc. *	1,000		16,530
Medicis Pharmaceutical Corp., Class A	100		3,688
			32,487
Publishing - 0.15%
Consolidated Graphics, Inc. *	100		5,850
Valassis Communications, Inc. *	100		1,546
			7,396
Railroads & Equipment - 0.07%
Wabtec Corp.	100		3,285
Real Estate - 0.77%
Home Properties, Inc., REIT	100		6,181
Jones Lang LaSalle, Inc., REIT	200		18,200
SL Green Realty Corp., REIT	100		13,524
			37,905
Retail Grocery - 0.23%
Pathmark Stores, Inc. *	300		3,387
The Great Atlantic & Pacific Tea Company,
Inc. *	300		7,890
			11,277
Retail Trade - 12.60%
Abercrombie & Fitch Company., Class A	100		6,744
Advance Auto Parts, Inc.	200		7,120
Aeropostale, Inc. *	500		15,120
American Eagle Outfitters, Inc.	1,700		76,806
AnnTaylor Stores Corp. *	700		24,150
Big Lots, Inc. *	400		8,924
BJ's Wholesale Club, Inc. *	200		6,460
CarMax, Inc. *	700		32,298
Cash America International, Inc.	100		4,414
Charlotte Russe Holding, Inc. *	400		12,068
Charming Shoppes, Inc. *	600		8,118
Childrens Place Retail Stores, Inc. *	200		12,904
Christopher & Banks Corp.	400		7,516
Circuit City Stores, Inc.	500		12,480
Claire's Stores, Inc.	800		25,528

Growth Opportunities Fund (continued)
	Shares or
	Principal
	Amount		Value
COMMON STOCKS (continued)
Retail Trade (continued)
Conn's, Inc. *	300	$	6,408
Dillard's, Inc., Class A	300		10,671
Dollar Tree Stores, Inc. *	1,200		36,012
Family Dollar Stores, Inc.	1,500		41,835
First Cash Financial Services, Inc. *	400		8,172
Fossil, Inc. *	300		6,306
Genesco, Inc. *	100		3,832
Hibbett Sporting Goods, Inc. *	150		4,728
Kenneth Cole Productions, Inc., Class A	100		2,390
Longs Drug Stores Corp.	100		4,109
MSC Industrial Direct Company, Inc., Class A	300		11,673
NBTY, Inc. *	400		14,540
Pacific Sunwear of California, Inc. *	500		9,840
Pantry, Inc. *	100		4,902
Payless ShoeSource, Inc. *	300		9,357
PETsMART, Inc.	500		14,790
RadioShack Corp.	400		7,012
Regis Corp.	100		3,831
Rent-A-Center, Inc. *	700		19,138
Ross Stores, Inc.	300		9,297
Steven Madden, Ltd. *	500		18,385
Talbots, Inc.	100		2,492
The Buckle, Inc.	100		4,699
The Dress Barn, Inc. *	800		19,376
The Men's Wearhouse, Inc.	500		19,150
The Yankee Candle, Inc.	100		3,406
Tiffany & Company	200		7,686
Tween Brands, Inc. *	600		25,152
United Rentals, Inc. *	500		12,530
Williams-Sonoma, Inc.	500		15,860
			618,229
Sanitary Services - 0.21%
Allied Waste Industries, Inc. *	800		10,144
Semiconductors - 2.50%
Amkor Technology, Inc. *	900		9,198
Atmel Corp. *	2,300		11,638
Cymer, Inc. *	100		4,725
Diodes, Inc. *	100		4,133
Intersil Corp., Class A	300		7,431
Lam Research Corp. *	300		15,780
MEMC Electronic Materials, Inc. *	600		23,880
Micrel, Inc. *	600		6,930
OmniVision Technologies, Inc. *	1,200		19,548
QLogic Corp. *	300		6,675
Silicon Laboratories, Inc. *	400		12,888
			122,826
Software - 2.77%
BEA Systems, Inc. *	1,300		17,901
BMC Software, Inc. *	800		26,048
Citrix Systems, Inc. *	1,600		45,984
Macrovision Corp. *	500		13,825

Page 5

JOHN HANCOCK FUNDS III
PORTFOLIO OF INVESTMENTS - November 30, 2006 (Unaudited) - continued
(showing percentage of total net assets)

Growth Opportunities Fund (continued)
	Shares or
	Principal
	Amount		Value
COMMON STOCKS (continued)
Software (continued)
Mantech International Corp. *	100	$	3,628
MicroStrategy, Inc., Class A *	100		11,847
Neoware Systems, Inc. *	300		3,351
Novell, Inc. *	500		3,140
Transaction Systems Architects, Inc., Class A *	200		6,766
VeriFone Holdings, Inc. *	100		3,376
			135,866
Steel - 3.22%
AK Steel Holding Corp. *	1,400		23,086
Allegheny Technologies, Inc.	400		35,860
Carpenter Technology Corp.	200		21,362
Olympic Steel, Inc.	100		2,594
Oregon Steel Mills, Inc. *	100		6,294
Steel Dynamics, Inc.	1,200		39,024
United States Steel Corp.	400		29,916
			158,136
Telecommunications Equipment &
Services - 1.81%
ADTRAN, Inc.	300		6,537
Atheros Communications, Inc. *	200		4,548
Commscope, Inc. *	800		24,136
InterDigital Communication Corp. *	100		3,195
Level 3 Communications, Inc. *	2,900		15,486
Polycom, Inc. *	800		23,072
Tellabs, Inc. *	1,200		12,048
			89,022
Telephone - 0.26%
Harris Corp.	300		12,633
Tires & Rubber - 0.17%
Goodyear Tire & Rubber Company *	500		8,425
Toys, Amusements & Sporting Goods - 0.17%
Marvel Entertainment, Inc. *	300		8,430
Transportation - 0.60%
American Commercial Lines, Inc. *	100		6,934
Kirby Corp. *	400		14,416
Overseas Shipholding Group, Inc.	100		5,756
Saia, Inc. *	100		2,479
			29,585
Trucking & Freight - 3.06%
Arkansas Best Corp.	300		11,370
Celadon Group, Inc. *	400		7,408
EGL, Inc. *	600		19,164
Forward Air Corp.	300		9,990
Hub Group, Inc., Class A *	200		5,708
J.B. Hunt Transport Services, Inc.	700		15,323
Landstar Systems, Inc.	400		18,016
Navistar International Corp. *	100		3,199
Old Dominion Freight Lines, Inc. *	300		8,043
Oshkosh Truck Corp.	400		19,204
Ryder Systems, Inc.	300		15,651

Growth Opportunities Fund (continued)
		Shares or
		Principal
		Amount		Value
COMMON STOCKS (continued)
Trucking & Freight (continued)
Swift Transportation, Inc. *		600	$	17,022
				150,098
TOTAL COMMON STOCKS (Cost $4,578,046)			$	4,905,535
REPURCHASE AGREEMENTS - 9.33%
Repurchase Agreement with State
Street Corp. dated 11/30/2006 at
3.95% to be repurchased at
$458,050 on 12/01/2006,
collateralized by $450,000 Federal
Home Loan Bank, 5.375% due
05/15/2019 (valued at $469,125,
including interest) (c)	$	458,000	$	458,000
TOTAL REPURCHASE AGREEMENTS
(Cost $458,000)			$	458,000
Total Investments (Growth Opportunities Fund)
(Cost $5,036,046) - 109.27%			$	5,363,535
Liabilities in Excess of Other Assets - (9.27)%				(454,842)
TOTAL NET ASSETS - 100.00%			$	4,908,693

Page 6

Footnotes

Percentages are states as a percent of net assets.

Key to Security Abbreviations and Legend
REIT –	Real Estate Investment Trust
*	Non-Income Producing
(c)	Investment is an affiliate of the Trust’s subadvisor or custodian bank

Page 7

JOHN HANCOCK FUNDS III
Notes to Financial Statements (Unaudited)

At November 30, 2006, the aggregate cost of investments was the same for federal income tax and financial statement purposes. The net unrealized
appreciation/(depreciation) of investment securities for federal income tax purposes was as follows:
	Unrealized	Unrealized	Net Unrealized
Fund	Appreciation	(Depreciation)	Appreciation/ (Depreciation)
Growth Opportunities	435,112	(107,623)	327,489

Page 8

JOHN HANCOCK FUNDS III
PORTFOLIO OF INVESTMENTS - November 30, 2006 (Unaudited)
(showing percentage of total net assets)

Growth Fund
	Shares or
	Principal
	Amount		Value
COMMON STOCKS - 96.25%
Aerospace - 2.60%
General Dynamics Corp.	800	$	59,872
Lockheed Martin Corp.	2,400		217,080
Northrop Grumman Corp.	2,000		133,860
Raytheon Company	1,300		66,352
United Technologies Corp.	4,000		258,120
			735,284
Agriculture - 0.68%
Archer-Daniels-Midland Company	5,500		193,050
Aluminum - 0.31%
Alcoa, Inc.	2,800		87,276
Apparel & Textiles - 0.18%
Liz Claiborne, Inc.	300		12,825
Mohawk Industries, Inc. *	300		23,229
Timberland Company., Class A *	500		15,625
			51,679
Auto Parts - 0.87%
AutoZone, Inc. *	600		68,166
Johnson Controls, Inc.	1,700		138,261
O'Reilly Automotive, Inc. *	1,300		41,171
			247,598
Auto Services - 0.22%
AutoNation, Inc. *	3,000		61,830
Automobiles - 0.21%
PACCAR, Inc.	900		58,770
Biotechnology - 0.75%
Amgen, Inc. *	1,100		78,100
Applera Corp.	2,200		80,168
Biogen Idec, Inc. *	600		31,356
Techne Corp. *	400		21,508
			211,132
Broadcasting - 0.55%
News Corp.	6,700		138,020
Univision Communications, Inc., Class A *	500		17,795
			155,815
Building Materials & Construction - 0.30%
American Standard Companies, Inc.	1,200		53,772
Masco Corp.	1,100		31,559
			85,331
Business Services - 2.80%
Affiliated Computer Services, Inc., Class A *	800		40,440
Ceridian Corp. *	1,300		31,863
Computer Sciences Corp. *	600		31,320
DST Systems, Inc. *	100		6,240
Fair Isaac Corp.	200		8,324
First Data Corp.	2,700		68,175
Fluor Corp.	400		34,832
Global Payments, Inc.	700		32,060
Manpower, Inc.	1,400		99,400
Monster Worldwide, Inc. *	900		39,285

Growth Fund (continued)
	Shares or
	Principal
	Amount		Value
COMMON STOCKS (continued)
Business Services (continued)
Moody's Corp.	4,100	$	284,868
Paychex, Inc.	200		7,882
Pitney Bowes, Inc.	800		36,872
Robert Half International, Inc.	1,800		69,462
			791,023
Cable and Television - 1.35%
Comcast Corp., Class A *	7,000		283,220
DIRECTV Group, Inc. *	4,400		100,100
			383,320
Chemicals - 0.34%
E.I. Du Pont De Nemours & Company	1,900		89,167
PPG Industries, Inc.	100		6,430
			95,597
Colleges & Universities - 0.12%
ITT Educational Services, Inc. *	500		34,285
Computers & Business Equipment - 6.11%
CDW Corp.	1,000		70,500
Cisco Systems, Inc. *	25,500		685,440
Cognizant Technology Solutions Corp.,
Class A *	1,300		106,028
Dell, Inc. *	9,500		258,780
Hewlett-Packard Company	4,900		193,354
International Business Machines Corp.	1,900		174,648
Lexmark International, Inc. *	1,700		117,266
Network Appliance, Inc. *	2,700		105,867
Tech Data Corp. *	400		16,728
			1,728,611
Containers & Glass - 0.17%
Pactiv Corp. *	1,400		48,230
Cosmetics & Toiletries - 0.74%
Avon Products, Inc.	2,000		65,280
Colgate-Palmolive Company	700		45,535
Estee Lauder Companies, Inc., Class A	300		12,387
Kimberly-Clark Corp.	1,300		86,411
			209,613
Crude Petroleum & Natural Gas - 0.71%
Devon Energy Corp.	400		29,348
Marathon Oil Corp.	900		84,942
Occidental Petroleum Corp.	1,700		85,578
			199,868
Drugs & Health Care - 0.07%
Wyeth	400		19,312
Electrical Equipment - 1.53%
Emerson Electric Company	3,900		338,130
Molex, Inc.	1,300		41,600
Wesco International, Inc. *	800		53,520
			433,250
Electronics - 0.94%
Agilent Technologies, Inc. *	5,100		162,384

Page 1

JOHN HANCOCK FUNDS III
PORTFOLIO OF INVESTMENTS - November 30, 2006 (Unaudited) - continued
(showing percentage of total net assets)

Growth Fund (continued)
	Shares or
	Principal
	Amount		Value
COMMON STOCKS (continued)
Electronics (continued)
Amphenol Corp., Class A	300	$	20,439
AVX Corp.	700		10,878
Harman International Industries, Inc.	400		41,536
Thomas & Betts Corp. *	400		20,748
Trimble Navigation, Ltd. *	200		9,594
			265,579
Financial Services - 7.09%
Bear Stearns Companies, Inc.	600		91,488
Charles Schwab Corp.	9,000		165,060
Chicago Merchantile Exchange Holdings, Inc.	100		53,560
E*TRADE Financial Corp. *	4,700		113,129
Federated Investors, Inc., Class B	1,000		33,180
Fiserv, Inc. *	600		30,666
Goldman Sachs Group, Inc.	2,300		448,040
Investment Technology Group, Inc. *	300		11,250
Jefferies Group, Inc.	1,200		34,788
JP Morgan Chase & Company	6,700		310,076
Lehman Brothers Holdings, Inc.	1,700		125,239
Mellon Financial Corp.	2,700		108,621
Merrill Lynch & Company, Inc.	2,100		183,603
Moneygram International, Inc.	1,600		48,800
Morgan Stanley	2,700		205,632
Raymond James Financial, Inc.	400		12,604
State Street Corp. (c)	500		31,065
			2,006,801
Food & Beverages - 3.21%
Campbell Soup Company	1,200		45,684
Corn Products International, Inc.	300		10,896
H.J. Heinz Company	1,800		80,010
Kraft Foods, Inc., Class A	1,000		35,050
Pepsi Bottling Group, Inc.	900		28,188
Sara Lee Corp.	1,900		31,502
Starbucks Corp. *	13,600		479,944
The Coca-Cola Company	4,200		196,686
			907,960
Healthcare Products - 3.15%
Baxter International, Inc.	500		22,370
Becton, Dickinson & Company	900		64,548
Biomet, Inc.	400		15,124
Henry Schein, Inc. *	100		5,153
IDEXX Laboratories, Inc. *	200		16,930
Johnson & Johnson	8,300		547,053
Medtronic, Inc.	900		46,917
Respironics, Inc. *	1,200		43,272
Stryker Corp.	800		41,488
Varian Medical Systems, Inc. *	1,800		88,596
			891,451
Healthcare Services - 3.78%
Cardinal Health, Inc.	1,700		109,854
Caremark Rx, Inc.	700		33,110
Express Scripts, Inc. *	2,500		170,500

Growth Fund (continued)
	Shares or
	Principal
	Amount		Value
COMMON STOCKS (continued)
Healthcare Services (continued)
Health Net, Inc. *	500	$	23,070
Laboratory Corp. of America Holdings *	300		21,240
Lincare Holdings, Inc. *	1,100		41,437
McKesson Corp.	1,800		88,920
Quest Diagnostics, Inc.	2,700		143,559
UnitedHealth Group, Inc.	8,800		431,904
Weight Watchers International, Inc.	100		4,894
			1,068,488
Holdings Companies/Conglomerates - 0.28%
Textron, Inc.	800		77,960
Homebuilders - 0.14%
Centex Corp.	600		33,204
Lennar Corp., Class A	100		5,250
			38,454
Hotels & Restaurants - 0.45%
Applebee's International, Inc.	400		9,100
Brinker International, Inc.	800		36,376
Marriott International, Inc., Class A	1,800		81,270
			126,746
Household Appliances - 0.18%
Whirlpool Corp.	600		51,180
Household Products - 0.16%
Energizer Holdings, Inc. *	600		39,654
Newell Rubbermaid, Inc.	200		5,698
			45,352
Industrial Machinery - 2.62%
Caterpillar, Inc.	4,100		254,323
Cummins, Inc.	600		71,952
Deere & Company	900		86,400
Flowserve Corp. *	600		32,304
FMC Technologies, Inc. *	1,000		60,010
Graco, Inc.	100		4,177
Lincoln Electric Holdings, Inc.	400		24,340
Parker-Hannifin Corp.	800		66,784
Terex Corp. *	2,000		112,040
W.W. Grainger, Inc.	400		28,944
			741,274
Industrials - 0.38%
Crane Company	300		11,430
Fastenal Company	2,700		97,173
			108,603
Insurance - 4.12%
AFLAC, Inc.	4,000		176,560
Ambac Financial Group, Inc.	600		51,384
American International Group, Inc.	6,000		421,920
Aon Corp.	2,000		71,360
Brown & Brown, Inc.	1,100		31,900
Lincoln National Corp.	400		25,436
MBIA, Inc.	500		34,825
Old Republic International Corp.	200		4,510

Page 2

JOHN HANCOCK FUNDS III
PORTFOLIO OF INVESTMENTS - November 30, 2006 (Unaudited) - continued
(showing percentage of total net assets)

Growth Fund (continued)
	Shares or
	Principal
	Amount		Value
COMMON STOCKS (continued)
Insurance (continued)
PMI Group, Inc.	1,200	$	51,972
Progressive Corp.	5,600		126,280
Radian Group, Inc.	200		10,642
St. Paul Travelers Companies, Inc.	1,200		62,172
Torchmark Corp.	400		25,288
W.R. Berkley Corp.	2,000		70,220
			1,164,469
International Oil - 3.85%
Anadarko Petroleum Corp., ADR	1,800		88,848
ChevronTexaco Corp.	900		65,088
ConocoPhillips	900		60,570
Exxon Mobil Corp.	11,400		875,634
			1,090,140
Internet Service Provider - 0.69%
Google, Inc., Class A *	400		193,968
Internet Software - 0.04%
Checkfree Corp. *	300		12,543
Leisure Time - 1.41%
International Game Technology, Inc.	4,300		188,254
Walt Disney Company	6,400		211,520
			399,774
Life Sciences - 0.08%
Pharmaceutical Product Development, Inc.	700		22,113
Liquor - 0.82%
Anheuser-Busch Companies, Inc.	4,600		218,546
Brown Forman Corp., Class B	200		13,890
			232,436
Manufacturing - 2.55%
Cameron International Corp. *	300		16,296
Danaher Corp.	3,500		255,920
Harley-Davidson, Inc.	1,200		88,524
Illinois Tool Works, Inc.	4,900		231,280
Rockwell Automation, Inc.	2,000		130,160
			722,180
Medical-Hospitals - 0.15%
Health Management Associates, Inc., Class A	700		14,350
Manor Care, Inc.	600		28,512
			42,862
Metal & Metal Products - 0.24%
Reliance Steel & Aluminum Company	1,800		69,282
Mobile Homes - 0.19%
Thor Industries, Inc.	1,200		54,312
Office Furnishings & Supplies - 0.63%
Office Depot, Inc. *	4,700		177,942
Petroleum Services - 0.42%
Baker Hughes, Inc.	1,600		117,488
Pharmaceuticals - 8.54%
Abbott Laboratories	5,100		237,966

Growth Fund (continued)
	Shares or
	Principal
	Amount		Value
COMMON STOCKS (continued)
Pharmaceuticals (continued)
Allergan, Inc.	1,200	$	139,896
AmerisourceBergen Corp.	200		9,198
Barr Pharmaceuticals, Inc. *	800		40,864
Bristol-Myers Squibb Company	3,400		84,422
Celgene Corp. *	1,500		83,595
Forest Laboratories, Inc. *	5,400		262,980
Gilead Sciences, Inc. *	800		52,736
King Pharmaceuticals, Inc. *	1,600		26,448
Merck & Company, Inc.	20,100		894,651
Pfizer, Inc.	21,200		582,788
			2,415,544
Railroads & Equipment - 1.40%
Burlington Northern Santa Fe Corp.	2,800		210,448
Norfolk Southern Corp.	2,300		113,275
Union Pacific Corp.	800		72,416
			396,139
Retail Grocery - 0.38%
The Kroger Company	5,000		107,300
Retail Trade - 13.56%
Abercrombie & Fitch Company., Class A	400		26,976
American Eagle Outfitters, Inc.	1,400		63,252
AnnTaylor Stores Corp. *	1,000		34,500
Bed Bath & Beyond, Inc. *	2,700		104,625
Best Buy Company, Inc.	2,100		115,437
BJ's Wholesale Club, Inc. *	400		12,920
Circuit City Stores, Inc.	2,200		54,912
Claire's Stores, Inc.	2,300		73,393
Costco Wholesale Corp.	3,200		167,232
CVS Corp.	1,300		37,401
Dollar General Corp.	3,200		49,728
Dollar Tree Stores, Inc. *	1,400		42,014
Family Dollar Stores, Inc.	2,300		64,147
Gap, Inc.	700		13,104
Home Depot, Inc.	24,500		930,265
J.C. Penney Company, Inc.	600		46,404
Kohl's Corp. *	4,200		292,320
Limited Brands, Inc.	1,900		60,211
Lowe's Companies, Inc.	19,700		594,152
PETsMART, Inc.	700		20,706
Staples, Inc.	4,800		122,256
Target Corp.	100		5,809
The TJX Companies, Inc.	1,600		43,872
Walgreen Company	4,500		182,205
Wal-Mart Stores, Inc.	14,700		677,670
			3,835,511
Sanitary Services - 0.71%
Allied Waste Industries, Inc. *	1,000		12,680
Ecolab, Inc.	1,000		44,350
Waste Management, Inc.	3,900		142,779
			199,809

Page 3

JOHN HANCOCK FUNDS III
PORTFOLIO OF INVESTMENTS - November 30, 2006 (Unaudited) - continued
(showing percentage of total net assets)

Growth Fund (continued)
	Shares or
	Principal
	Amount		Value
COMMON STOCKS (continued)
Semiconductors - 0.46%
Intel Corp.	5,000	$	106,750
Lam Research Corp. *	300		15,780
Micron Technology, Inc. *	500		7,300
			129,830
Software - 3.26%
BEA Systems, Inc. *	7,200		99,144
BMC Software, Inc. *	2,400		78,144
Citrix Systems, Inc. *	3,100		89,094
Intuit, Inc. *	1,700		53,516
Microsoft Corp.	5,600		164,248
Oracle Corp. *	23,000		437,690
			921,836
Steel - 0.44%
Nucor Corp.	2,100		125,685
Telecommunications Equipment &
Services - 1.96%
ADTRAN, Inc.	700		15,253
Corning, Inc. *	1,300		28,028
QUALCOMM, Inc.	13,200		482,988
Tellabs, Inc. *	2,800		28,112
			554,381
Telephone - 1.62%
AT&T, Inc.	4,100		139,031
BellSouth Corp.	5,500		245,245
Harris Corp.	600		25,266
Qwest Communications International, Inc. *	6,300		48,447
			457,989
Tobacco - 1.16%
Altria Group, Inc.	3,000		252,630
Reynolds American, Inc.	200		12,848
UST, Inc.	1,100		61,578
			327,056
Toys, Amusements & Sporting Goods - 0.04%
Mattel, Inc.	500		10,975
Transportation - 1.48%
C.H. Robinson Worldwide, Inc.	4,200		184,800
Expeditors International of Washington, Inc.	5,200		235,248
			420,048
Trucking & Freight - 3.06%
CSX Corp.	2,000		71,720
Fedex Corp.	6,300		727,209
Landstar Systems, Inc.	200		9,008
Ryder Systems, Inc.	1,100		57,387
			865,324
TOTAL COMMON STOCKS (Cost $25,392,120)		$	27,227,658

Growth Fund (continued)
		Shares or
		Principal
		Amount		Value
REPURCHASE AGREEMENTS - 6.64%
Repurchase Agreement with State
Street Corp. dated 11/30/2006 at
3.95% to be repurchased at
$1,879,206 on 12/01/2006,
collateralized by $1,840,000
Federal Home Loan Bank, 5.375%
due 05/15/2019 (valued at
$1,918,200, including interest) (c)	$	1,879,000	$	1,879,000
TOTAL REPURCHASE AGREEMENTS
(Cost $1,879,000)			$	1,879,000
Total Investments (Growth Fund)
(Cost $27,271,120) - 102.89%			$	29,106,658
Liabilities in Excess of Other Assets - (2.89)%				(816,226)
TOTAL NET ASSETS - 100.00%			$	28,290,432

Page 4

Footnotes

Percentages are states as a percent of net assets.

Key to Security Abbreviations and Legend

ADR – American Depositary Receipts

* Non-Income Producing

(c) Investment is an affiliate of the Trust’s subadvisor or custodian bank

Page 5

JOHN HANCOCK FUNDS IIINotes to Financial Statements (Unaudited)

The following is a summary of open futures contracts at November 30, 2006:
					Unrealized
					Appreciation
Fund	Open Contracts	Number of Contracts	Position	Expiration Date	(Depreciation)
Growth	S&P 500 Index	1	Long	Dec 2006	($832)
					($832)
At November 30, 2006, the aggregate cost of investments was the same for federal income tax and financial statement purposes. The net unrealized
appreciation/(depreciation) of investment securities for federal income tax purposes was as follows:
		Unrealized	Unrealized	Net Unrealized
Fund		Appreciation	(Depreciation)	Appreciation/ (Depreciation)
Growth		$2,097,231	($261,693)	$1,835,538

Page 6

JOHN HANCOCK FUNDS III

PORTFOLIO OF INVESTMENTS - November 30, 2006 (Unaudited)
(showing percentage of total net assets)

International Growth Fund
	Shares or
	Principal
	Amount		Value
COMMON STOCKS - 96.33%
Australia - 4.98%
Australia and New Zealand Banking Group,
Ltd.	2,763	$	62,068
BHP Billiton, Ltd.	2,238		46,352
Coles Myer, Ltd.	3,379		35,378
CSL, Ltd.	1,568		73,419
CSR, Ltd.	17,494		44,202
Lihir Gold, Ltd. *	8,098		19,438
Macquarie Bank, Ltd.	932		53,589
Newcrest Mining, Ltd.	1,573		32,156
NRMA Insurance Group, Ltd.	17,611		80,375
Promina Group, Ltd.	14,114		72,996
QBE Insurance Group, Ltd.	3,351		68,504
Rio Tinto, Ltd.	1,708		100,069
Westpac Banking Corp., Ltd.	1,557		29,998
Woodside Petroleum, Ltd.	692		20,523
Woolworths, Ltd.	1,871		32,501
WorleyParsons, Ltd.	2,114		31,932
Zinifex, Ltd.	11,249		151,264
			954,764
Austria - 0.17%
OMV AG	621		33,351
Belgium - 2.14%
Belgacom SA	1,196		51,290
Colruyt SA	104		19,707
Fortis Group SA	3,429		140,003
Interbrew	647		42,512
KBC Bancassurance Holding NV	616		69,391
UCB SA	855		54,308
Union Miniere SA	222		33,412
			410,623
Bermuda - 0.22%
Esprit Holdings, Ltd.	4,000		41,475
Canada - 1.81%
Canadian Natural Resources, Ltd.	1,000		54,234
EnCana Corp.	1,900		98,816
Goldcorp, Inc.	1,000		31,287
Petro-Canada	1,100		49,625
Royal Bank of Canada	1,600		74,690
Teck Cominco, Ltd.	500		37,697
			346,349
Cayman Islands - 0.20%
Foxconn International Holdings, Ltd. *	13,000		39,277
Denmark - 0.49%
Novo Nordisk AS	900		69,567
Topdanmark AS *	150		23,989
			93,556
Finland - 2.36%
Fortum Corp. Oyj	1,800		52,679
Metso Oyj	1,300		59,956
Nokia AB Oyj	8,221		165,593

International Growth Fund (continued)
	Shares or
	Principal
	Amount		Value
COMMON STOCKS (continued)
Finland (continued)
Rautaruukki Oyj	1,700	$	61,970
Sampo Oyj, A Shares	2,400		60,691
YIT Oyj	2,000		52,034
			452,923
France - 10.30%
BNP Paribas SA	1,439		155,231
Carrefour SA	1,637		102,481
Casino Guich-Perrachon SA	262		23,938
Credit Agricole SA	1,271		53,883
Electricite de France *	375		24,068
European Aeronautic Defence &
Space Company	1,326		39,053
Gaz de France	547		23,646
Groupe Danone SA	214		32,975
L'Oreal SA	949		95,766
LVMH Moet Hennessy SA	210		21,804
Peugeot SA	1,705		106,444
Publicis Groupe SA	486		18,831
Renault Regie Nationale SA	1,386		166,330
Sanofi-Aventis	353		31,035
Societe Generale	979		164,223
Societe Television Francaise 1	530		19,636
Total SA	10,977		779,477
Vallourec SA	437		117,519
			1,976,340
Germany - 4.59%
Altana AG	1,163		67,918
Bayerische Motoren Werke (BMW) AG	1,284		70,932
Beiersdorf AG	320		18,909
Continental AG	390		44,352
Deutsche Boerse AG	508		85,147
Fresenius Medical Care AG	384		51,598
Hypo Real Estate Holding AG	494		28,784
Merck & Company AG	160		17,578
Metro AG	319		19,903
Puma AG	200		72,471
Salzgitter AG	849		102,179
SAP AG	279		58,403
Solarworld AG	948		57,952
Thyssen Krupp AG	1,914		73,959
United Internet AG	3,772		57,021
Volkswagen AG	496		54,098
			881,204
Hong Kong - 0.38%
Hong Kong Electric Holdings, Ltd.	10,000		47,184
Hong Kong Exchange & Clearing, Ltd.	3,000		26,420
			73,604
Ireland - 1.44%
Allied Irish Banks PLC	759		21,186
Anglo Irish Bank Corp. PLC	1,784		33,947
Bank of Ireland	1,263		27,132

Page 1

JOHN HANCOCK FUNDS III

PORTFOLIO OF INVESTMENTS - November 30, 2006 (Unaudited) - continued
(showing percentage of total net assets)

International Growth Fund (continued)
	Shares or
	Principal
	Amount		Value
COMMON STOCKS (continued)
Ireland (continued)
C&C Group PLC	3,710	$	56,576
CRH PLC	2,276		85,865
Depfa Bank PLC	1,556		28,288
Irish Life & Permanent PLC	911		22,953
			275,947
Italy - 3.98%
Banco Popolare Di Verona e Novara SpA	3,248		91,395
Enel SpA	3,885		39,720
Eni SpA	14,350		470,392
Saipem SpA	2,112		53,268
UniCredito Italiano SpA	12,592		108,868
			763,643
Japan - 24.95%
AEON Company, Ltd.	2,400		56,698
Aiful Corp.	450		14,408
Aisin Seiki Company	1,500		47,378
Asahi Breweries, Ltd.	1,000		14,451
Astellas Pharmaceuticals, Inc.	1,500		65,680
Canon, Inc.	7,700		407,788
Central Japan Railway Company, Ltd.	5		54,084
Chiyoda Corp.	1,000		18,951
Chubu Electric Power Company, Inc.	1,800		54,206
Daiichi Sankyo Company, Ltd.	1,800		55,452
Daikin Industries, Ltd.	1,000		31,931
Denso Corp.	2,800		106,369
East Japan Railway Company	11		77,293
Fanuc, Ltd.	300		27,388
Fast Retailing Company, Ltd.	500		44,176
Honda Motor Company, Ltd.	14,900		528,643
Hoya Corp.	2,600		102,596
Ibiden Company, Ltd.	500		25,095
Inpex Holdings, Inc. *	2		17,255
Itochu Corp.	7,000		56,637
Japan Tobacco, Inc.	4		17,757
JFE Holdings, Inc.	1,600		73,936
Kansai Electric Power Company, Ltd.	2,100		52,518
Kawasaki Heavy Industries, Ltd.	4,000		14,261
Kawasaki Kisen Kaisha, Ltd.	4,000		28,660
KDDI Corp.	3		20,093
Keyence Corp.	100		23,001
Kirin Brewery Company, Ltd.	3,000		42,368
Komatsu, Ltd.	3,000		54,647
Konica Minolta Holdings, Inc.	2,500		36,345
Kubota Corp.	2,000		17,636
LeoPalace21 Corp.	1,100		37,028
Mazda Motor Corp.	4,000		27,484
Mitsubishi Corp.	1,000		18,692
Mitsubishi Estate Company, Ltd.	4,000		98,996
Mitsubishi Gas & Chemicals Company, Inc.	4,000		39,079
Mitsubishi Rayon Company, Ltd.	3,000		20,457
Mitsubishi UFJ Financial Group, Inc.	13		166,494

International Growth Fund (continued)
	Shares or
	Principal
	Amount		Value
COMMON STOCKS (continued)
Japan (continued)
Mitsui Fudosan Company, Ltd.	3,000	$	70,613
Mitsui O.S.K. Lines, Ltd.	4,000		36,725
Mitsui Trust Holdings, Inc.	5,000		53,133
Mizuho Financial Group, Inc.	4		29,491
Nikon Corp.	1,000		20,682
Nintendo Company, Ltd.	500		119,418
Nippon Oil Corp.	4,000		28,487
Nippon Yusen Kabushiki Kaisha	7,000		49,126
Nissan Motor Company, Ltd.	17,300		211,385
Nitto Denko Corp.	700		33,861
Nomura Holdings, Inc.	3,100		54,457
Olympus Optical Company, Ltd.	1,000		31,412
Orix Corp.	170		46,634
Osaka Gas Company, Ltd.	14,000		50,519
Resona Holdings, Inc. *	50		148,408
Ricoh Company, Ltd.	4,000		76,151
SBI Holdings, Inc.	66		23,217
Sega Sammy Holdings, Inc.	1,200		30,270
Sekisui House, Ltd.	2,000		30,305
Seven & I Holdings Company, Ltd.	1,100		35,125
Sharp Corp.	1,000		16,866
Shin-Etsu Chemical Company, Ltd.	1,200		79,439
Shinsei Bank, Ltd.	3,000		17,809
SOFTBANK Corp.	2,200		46,166
Sony Corp.	1,100		43,596
Sumitomo Chemical Company, Ltd.	6,000		40,395
Sumitomo Metal Mining Company, Ltd.	4,000		52,406
Sumitomo Mitsui Financial Group, Inc.	3		31,672
Sumitomo Realty &
Development Company, Ltd.	2,000		63,863
Suzuki Motor Corp.	1,300		37,349
Takeda Pharmaceutical Company, Ltd.	2,100		137,383
TDK Corp.	200		15,334
Terumo Corp.	1,000		40,671
Tokyo Gas Company, Ltd.	9,000		44,704
Tokyo Steel Manufacturing Company, Ltd.	1,100		16,315
Toray Industries, Inc.	4,000		29,803
Toyota Motor Corp.	4,200		255,140
Toyota Tsusho Corp.	1,000		26,134
Trend Micro, Inc.	500		15,144
			4,785,539
Netherlands - 7.02%
ABN AMRO Holdings NV	3,957		119,164
Akzo Nobel NV	753		43,226
ASML Holding NV *	724		18,011
Euronext NV	781		89,635
Heineken NV	2,722		132,830
ING Groep NV	8,968		382,804
Randstad Holdings NV	943		60,548
Reed Elsevier NV	1,898		32,014
Royal Dutch Shell PLC, A Shares	6,368		225,706
Royal Dutch Shell PLC, B Shares	5,120		183,186

Page 2

JOHN HANCOCK FUNDS III

PORTFOLIO OF INVESTMENTS - November 30, 2006 (Unaudited) - continued
(showing percentage of total net assets)

International Growth Fund (continued)
	Shares or
	Principal
	Amount		Value
COMMON STOCKS (continued)
Netherlands (continued)
TNT Post Group NV	1,386	$	58,390
			1,345,514
Norway - 0.85%
Norsk Hydro ASA	1,342		33,260
Statoil ASA	2,350		65,308
Telenor ASA	3,800		65,307
			163,875
Portugal - 0.09%
Portugal Telecom, SGPS, SA	1,360		17,529
Singapore - 0.59%
CapitaLand, Ltd. *	14,000		56,916
Singapore Telecommunications, Ltd.	30,000		56,201
			113,117
Spain - 2.12%
Acerinox SA	977		26,727
ACS Actividades SA	631		35,294
Banco Popular Espanol SA	2,197		38,660
Gamesa Corp. Tecno SA	1,038		27,364
Iberdrola SA	1,345		59,748
Industria de Diseno Textil SA	2,782		141,181
Repsol SA	569		20,448
Telefonica SA	2,780		56,365
			405,787
Sweden - 4.17%
Alfa Laval AB	700		27,198
Assa Abloy AB, Series B	2,000		40,757
Atlas Copco AB, Series A	2,000		58,978
Atlas Copco AB, Series B	1,800		51,631
Boliden AB	2,950		71,234
Electrolux AB, Series B	2,300		43,253
Getinge AB, Series B	1,000		18,879
Hennes & Mauritz AB, Series B	450		21,008
Nordea Bank AB	3,400		48,066
Sandvik AB	4,200		54,090
Scania AB, Series B	800		54,675
Skandinaviska Enskilda Banken AB, Series A	2,000		58,831
SKF AB, Series B	3,200		52,451
Ssab Svenskt Stal AB, Series A	2,400		50,577
Svenska Cellulosa AB, Series B	1,700		83,469
Swedish Match AB	3,600		63,880
			798,977
Switzerland - 5.80%
Actelion, Ltd. *	267		47,685
Adecco SA	559		37,094
Compagnie Financiere
Richemont AG, Series A	352		18,989
Credit Suisse Group AG	826		54,708
Geberit AG	57		82,793
Nestle SA	204		72,117
Novartis AG	2,546		148,626

International Growth Fund (continued)
	Shares or
	Principal
	Amount		Value
COMMON STOCKS (continued)
Switzerland (continued)
Phonak Holding AG	294	$	22,027
Roche Holdings AG	812		146,921
Serono AG, Series B	69		62,798
Societe Generale de Surveillance Holdings AG	17		18,171
Swatch Group AG, BR shares	97		20,571
Swiss Re	804		68,739
Synthes AG	369		43,421
UBS AG *(c)	3,756		226,167
Zurich Financial Services AG	157		40,872
			1,111,699
United Kingdom - 17.68%
Alliance & Leicester PLC	867		18,609
Anglo American PLC	8,878		412,917
AstraZeneca Group PLC	4,288		249,083
Aviva PLC	4,569		70,850
Barclays PLC	5,393		72,265
Barratt Developments PLC	3,513		76,403
BG Group PLC	2,860		38,549
BHP Billiton PLC	3,264		62,022
British American Tobacco Australasia, Ltd.	1,180		33,436
British Sky Broadcasting Group PLC	3,003		31,251
BT Group PLC	25,233		141,233
Capita Group PLC	5,094		57,526
Centrica PLC	29,226		190,343
Compass Group PLC	4,252		24,029
Countrywide PLC	1,729		17,295
Dixons Group PLC	8,113		31,152
George Wimpey PLC	5,315		57,876
GlaxoSmithKline PLC	10,212		271,665
HSBC Holdings PLC	2,614		48,281
Imperial Tobacco Group PLC	3,216		118,357
Inchcape PLC	2,409		23,706
International Power PLC	3,507		23,427
Ladbrokes PLC	3,543		28,133
Land Securities Group PLC	946		39,584
Man Group PLC	17,785		165,997
Marks & Spencer Group PLC	10,699		143,891
National Grid PLC, ADR	5,704		77,218
Next Group PLC	3,078		107,884
Northern Rock PLC	2,835		63,360
Persimmon PLC	884		25,414
Reckitt Benckiser PLC	1,251		55,721
Rio Tinto PLC	3,908		208,926
Royal Bank of Scotland Group PLC	4,473		162,240
Scottish & Southern Energy PLC	1,533		43,921
Tesco PLC	5,014		38,628
Travis Perkins PLC	867		29,620
William Morrison Supermarket PLC	25,417		129,876
			3,390,688
TOTAL COMMON STOCKS (Cost $16,289,113)		$	18,475,781

Page 3

JOHN HANCOCK FUNDS III

PORTFOLIO OF INVESTMENTS - November 30, 2006 (Unaudited) - continued
(showing percentage of total net assets)

International Growth Fund (continued)
		Shares or
		Principal
		Amount		Value
PREFERRED STOCKS - 0.19%
Germany - 0.19%
Porsche AG, Non-Voting		32	$	37,173
TOTAL PREFERRED STOCKS (Cost $30,139)			$	37,173
REPURCHASE AGREEMENTS - 2.12%
Repurchase Agreement with State
Street Corp. dated 11/30/2006 at
3.95% to be repurchased at
$407,045 on 12/01/2006,
collateralized by $400,000 Federal
Home Loan Bank, 5.375% due
05/15/2019 (valued at $417,000,
including interest) (c)	$	407,000	$	407,000
TOTAL REPURCHASE AGREEMENTS
(Cost $407,000)			$	407,000
Total Investments (International Growth Fund)
(Cost $16,726,252) - 98.64%			$	18,919,954
Other Assets in Excess of Liabilities - 1.36%				260,517
TOTAL NET ASSETS - 100.00%			$	19,180,471

Page 4

Footnotes

Percentages are states as a percent of net assets.

Key to Security Abbreviations and Legend

ADR – American Depositary Receipts

* Non-Income Producing

(c) Investment is an affiliate of the Trust’s subadvisor or custodian bank

Page 5

JOHN HANCOCK FUNDS III
Notes to Financial Statements (Unaudited)

The following is a summary of open futures contracts at November 30, 2006:

					Unrealized
					Appreciation
Fund	Open Contracts	Number of Contracts	Position	Expiration Date	(Depreciation)
International Growth	TOPIX Index	1	Long	Dec 2006	($1,881)
					($1,881)

At November 30, 2006, the aggregate cost of investments was the same for federal income tax and financial statement purposes. The net unrealized appreciation/(depreciation) of investment securities for federal income tax purposes was as follows:

	Unrealized	Unrealized	Net Unrealized
Fund	Appreciation	(Depreciation)	Appreciation/ (Depreciation)
International Growth	2,261,224	(67,522)	2,193,702

Page 6

ITEM 2. CONTROLS AND PROCEDURES.

(a) The Registrant’s principal executive and principal accounting officers have concluded, based upon their evaluation of the Registrant's disclosure controls and procedures as of a date within 90 days of the filing date of this report, that the Registrant's disclosure controls and procedures are reasonably designed to ensure that information required to be disclosed by the Registrant on Form N-Q is recorded, processed, summarized and reported within the required time periods and that information required to be disclosed by the Registrant in the reports that it files or submits on Form N-Q is accumulated and communicated to the Registrant’s management, including its principal executive and principal financial officers, as appropriate to allow timely decisions regarding required disclosure.

(b) There were no changes to the Registrant's internal control over financial reporting that occurred during the Registrant's most recently ended fiscal quarter that has materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.

ITEM 3. EXHIBITS.

(a) Certifications of principal executive and principal accounting officers as required by Rule 30a-2(a) under the Investment Company Act of 1940.

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 III

By: /s/ Keith F. Hartstein
-------------------------------------
Keith F. Hartstein
President and Chief Executive Officer

Date: January 26, 2007

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.

By: /s/ Keith F. Hartstein
-------------------------------------
Keith F. Hartstein
President and Chief Executive Officer

Date: January 26, 2007

By: /s/ John G. Vrysen
-------------------------------------
John G. Vrysen
Chief Financial Officer

Date: January 26, 2007