N-Q 1 d31857.htm N-Q

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

FORM N-Q

 

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANY

 

Investment Company Act file number:        811-04146

 

JOHN HANCOCK VARIABLE INSURANCE TRUST

 

(Exact name of registrant as specified in charter)

 

601 CONGRESS STREET, BOSTON, MA 02210

 

   
(Address of principal executive offices) (Zip code)

 

SALVATORE SCHIAVONE, 601 CONGRESS STREET, BOSTON, MA 02210

(Name and address of agent for service)

 

 

Registrant’s telephone number, including area code: 617-663-4497

 

 

Date of fiscal year end: December 31

 

 

Date of reporting period: September 30, 2014

 

 

Item 1. Schedule of Investments.


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

500 Index Trust B

Shares or
Principal
Amount        Value
COMMON STOCKS - 96.8%
Consumer discretionary - 11.3%
Auto components - 0.4%
BorgWarner, Inc. 40,434 $ 2,127,220
Delphi Automotive PLC 54,097 3,318,310
Johnson Controls, Inc. 118,386 5,208,984
The Goodyear Tire & Rubber Company 50,394 1,138,148
11,792,662
Automobiles - 0.6%
Ford Motor Company 696,255 10,297,611
General Motors Company 241,906 7,726,478
Harley-Davidson, Inc. 39,260 2,284,932
20,309,021
Distributors - 0.1%
Genuine Parts Company 27,347 2,398,605
Diversified consumer services - 0.0%
H&R Block, Inc. 48,701 1,510,218
Hotels, restaurants and leisure - 1.6%
Carnival Corp. 81,802   3,285,986
Chipotle Mexican Grill, Inc. (I) 5,551 3,700,241
Darden Restaurants, Inc. (L) 23,179 1,192,791
Marriott International, Inc., Class A 39,415 2,755,109
McDonald’s Corp. 175,917   16,678,691
Starbucks Corp. 134,747 10,168,009
Starwood Hotels & Resorts Worldwide, Inc. 34,325 2,856,183
Wyndham Worldwide Corp. 22,716 1,845,902
Wynn Resorts, Ltd. 14,464 2,705,925
Yum! Brands, Inc. 79,078 5,692,034
50,880,871
Household durables - 0.4%
D.R. Horton, Inc. 60,358 1,238,546
Garmin, Ltd. (L) 21,731 1,129,795
Harman International Industries, Inc. 12,070 1,183,343
Leggett & Platt, Inc. 24,824 866,854
Lennar Corp., Class A 31,571 1,225,902
Mohawk Industries, Inc. (I) 10,864 1,464,684
Newell Rubbermaid, Inc. 49,865 1,715,855
PulteGroup, Inc. 61,271 1,082,046
Whirlpool Corp. 13,713 1,997,298
11,904,323
Internet and catalog retail - 1.3%
Amazon.com, Inc. (I) 67,898 21,893,031
Expedia, Inc. 18,288 1,602,395
Netflix, Inc. (I) 10,671 4,814,542
The Priceline Group, Inc. (I) 9,423 10,917,299
TripAdvisor, Inc. (I) 19,673 1,798,506
41,025,773
Leisure products - 0.1%
Hasbro, Inc. 20,784 1,143,016
Mattel, Inc. 60,852 1,865,114
3,008,130
Media - 3.4%
Cablevision Systems Corp., Class A 37,584 658,096
CBS Corp., Class B 87,154 4,662,739
Comcast Corp., Class A 464,621 24,987,317
DIRECTV (I) 90,249 7,808,343
Discovery Communications, Inc., Series A (I) 26,202 990,436
Discovery Communications, Inc., Series C (I) 49,338 1,839,321
Gannett Company, Inc. 40,797 1,210,447
News Corp., Class A (I) 88,661 1,449,607
Omnicom Group, Inc. 43,857 3,019,993
Scripps Networks Interactive, Inc., Class A 19,457 1,519,397
The Interpublic Group of Companies, Inc. 75,675 1,386,366
The Walt Disney Company 283,187 25,212,139
Time Warner Cable, Inc. 49,481 7,100,029
Time Warner, Inc. 153,291 11,529,016
Twenty-First Century Fox, Inc., Class A 336,971 11,554,736
Viacom, Inc., Class B 67,275 5,176,139
110,104,121
Multiline retail - 0.6%
Dollar General Corp. (I) 55,274 3,377,794
Dollar Tree, Inc. (I) 36,972 2,073,020
Family Dollar Stores, Inc. 17,131 1,323,198
Kohl’s Corp. 36,139 2,205,563
Macy’s, Inc. 62,842 3,656,148
Nordstrom, Inc. 25,539 1,746,101
Target Corp. 112,882 7,075,444
21,457,268
Specialty retail - 2.0%
AutoNation, Inc. (I) 14,119 710,327
AutoZone, Inc. (I) 5,692 2,900,985
Bed Bath & Beyond, Inc. (I) 35,360 2,327,749
Best Buy Company, Inc. 52,856 1,775,433
CarMax, Inc. (I) 39,680 1,843,136
GameStop Corp., Class A (L) 20,519 845,383
L Brands, Inc. 43,437 2,909,410
Lowe’s Companies, Inc. 175,929 9,310,163
O’Reilly Automotive, Inc. (I) 18,908 2,843,007
PetSmart, Inc. 18,434 1,292,039
Ross Stores, Inc. 38,367 2,899,778
Staples, Inc. 114,720 1,388,112
The Gap, Inc. 50,703 2,113,808
The Home Depot, Inc. 241,336 22,140,165
The TJX Companies, Inc. 124,119 7,344,121
Tiffany & Company 19,780 1,905,012
Tractor Supply Company 24,943 1,534,244
Urban Outfitters, Inc. (I) 19,252 706,548
66,789,420
Textiles, apparel and luxury goods - 0.8%
Coach, Inc. 49,212 1,752,439
Fossil Group, Inc. (I) 8,683 815,334
Michael Kors Holdings, Ltd. (I) 36,802 2,627,295
NIKE, Inc., Class B 126,050 11,243,660
PVH Corp. 14,482 1,754,494
Ralph Lauren Corp. 10,601 1,746,303
Under Armour, Inc., Class A (I)(L) 30,114 2,080,877
VF Corp. 62,600 4,133,478
26,153,880
367,334,292
Consumer staples - 9.2%
Beverages - 2.1%
Brown-Forman Corp., Class B 28,762 2,594,908
Coca-Cola Company 708,184 30,211,129
Coca-Cola Enterprises, Inc. 38,787 1,720,591
Constellation Brands, Inc., Class A (I) 29,896 2,605,735
Dr. Pepper Snapple Group, Inc. 34,927 2,246,155
Molson Coors Brewing Company, Class B 28,156 2,095,933
Monster Beverage Corp. (I) 25,970 2,380,670
PepsiCo, Inc. 269,658 25,102,463
68,957,584

The accompanying notes are an integral part of the financial statements. 1


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

500 Index Trust B (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Food and staples retailing - 2.2%
Costco Wholesale Corp. 78,372 $ 9,821,579
CVS Health Corp. 206,858 16,463,828
Safeway, Inc. 41,106 1,409,936
Sysco Corp. 104,350 3,960,083
The Kroger Company 87,631 4,556,812
Wal-Mart Stores, Inc. 283,070 21,646,363
Walgreen Company 157,919 9,359,859
Whole Foods Market, Inc. 66,489 2,533,896
69,752,356
Food products - 1.5%
Archer-Daniels-Midland Company 114,449 5,848,344
Campbell Soup Company 31,786 1,358,216
ConAgra Foods, Inc. 74,913   2,475,126
General Mills, Inc. 111,390 5,619,626
Hormel Foods Corp. 24,135   1,240,298
Kellogg Company 45,665 2,812,964
Keurig Green Mountain, Inc. 21,859 2,844,512
Kraft Foods Group, Inc. 106,346   5,997,914
McCormick & Company, Inc. 23,398 1,565,326
Mead Johnson Nutrition Company 35,952 3,459,301
Mondelez International, Inc., Class A 303,291 10,392,266
The Hershey Company 26,753 2,553,039
The J.M. Smucker Company 18,363 1,817,753
Tyson Foods, Inc., Class A 52,008 2,047,555
50,032,240
Household products - 1.9%
Colgate-Palmolive Company 153,086 9,984,269
Kimberly-Clark Corp. 67,662 7,278,401
Procter & Gamble Company 485,166 40,627,801
The Clorox Company (L) 23,268 2,234,659
60,125,130
Personal products - 0.1%
Avon Products, Inc. 78,248 985,925
The Estee Lauder Companies, Inc., Class A 40,399 3,018,613
4,004,538
Tobacco - 1.4%
Altria Group, Inc. 355,215 16,318,577
Lorillard, Inc. 64,583 3,869,168
Philip Morris International, Inc. 279,974 23,349,832
Reynolds American, Inc. 55,685 3,285,415
46,822,992
299,694,840
Energy - 9.4%
Energy equipment and services - 1.8%
Baker Hughes, Inc. 78,075 5,079,560
Cameron International Corp. (I) 36,408 2,416,763
Diamond Offshore Drilling, Inc. (L) 12,142 416,106
Ensco PLC, Class A (L) 41,444 1,712,052
FMC Technologies, Inc. (I) 42,059 2,284,224
Halliburton Company 151,815 9,793,586
Helmerich & Payne, Inc. 19,026 1,862,075
Nabors Industries, Ltd. 52,851 1,202,889
National Oilwell Varco, Inc. 76,577 5,827,510
Noble Corp. PLC 45,339 1,007,433
Schlumberger, Ltd. 233,127 23,706,685
Transocean, Ltd. (L) 60,194 1,924,402
57,233,285
Oil, gas and consumable fuels - 7.6%
Anadarko Petroleum Corp. 91,260 9,257,414
Apache Corp. 68,850 6,462,950
Cabot Oil & Gas Corp. 74,884 2,447,958
Chesapeake Energy Corp. 96,112 2,209,615
Chevron Corp. 340,326 40,607,698
Cimarex Energy Company 15,817 2,001,325
ConocoPhillips 220,787 16,894,621
CONSOL Energy, Inc. 40,890 1,548,095
Denbury Resources, Inc. 62,593 940,773
Devon Energy Corp. 68,359 4,660,717
EOG Resources, Inc. 97,276 9,632,270
EQT Corp. 26,794 2,452,723
Exxon Mobil Corp. 764,178 71,870,941
Hess Corp. 47,175 4,449,546
Kinder Morgan, Inc. (L) 119,186 4,569,591
Marathon Oil Corp. 120,676 4,536,211
Marathon Petroleum Corp. 50,722 4,294,632
Murphy Oil Corp. 30,749 1,749,926
Newfield Exploration Company (I) 23,817 882,896
Noble Energy, Inc. 64,224 4,390,353
Occidental Petroleum Corp. 139,628 13,425,232
ONEOK, Inc. 37,181 2,437,215
Phillips 66 99,799 8,114,657
Pioneer Natural Resources Company 25,501 5,022,932
QEP Resources, Inc. 32,073 987,207
Range Resources Corp. 30,835 2,090,921
Southwestern Energy Company (I) 62,985 2,201,326
Spectra Energy Corp. 119,073 4,674,806
Tesoro Corp. 23,608 1,439,616
The Williams Companies, Inc. 119,435 6,610,727
Valero Energy Corp. 94,972 4,394,354
247,259,248
304,492,533
Financials - 15.8%
Banks - 5.9%
Bank of America Corp. 1,883,919 32,120,819
BB&T Corp. 130,681 4,862,640
Citigroup, Inc. 544,624 28,222,416
Comerica, Inc. 32,498 1,620,350
Fifth Third Bancorp 151,832 3,039,677
Huntington Bancshares, Inc. 147,627 1,436,411
JPMorgan Chase & Company 673,872 40,594,049
KeyCorp 159,330 2,123,869
M&T Bank Corp. (L) 23,371 2,881,411
Regions Financial Corp. 253,234 2,542,469
SunTrust Banks, Inc. 95,006 3,613,078
The PNC Financial Services Group, Inc. 97,007 8,301,859
U.S. Bancorp 321,295 13,439,770
Wells Fargo & Company 850,288 44,104,439
Zions Bancorporation 38,307 1,113,201
190,016,458
Capital markets - 2.2%
Affiliated Managers Group, Inc. (I) 10,364 2,076,531
Ameriprise Financial, Inc. 34,048 4,200,842
BlackRock, Inc. 22,865 7,507,037
E*TRADE Financial Corp. (I) 51,935 1,173,212
Franklin Resources, Inc. 69,316 3,785,347
Invesco, Ltd. 77,230 3,049,040
Legg Mason, Inc. 18,532 948,097
Morgan Stanley 275,026 9,507,649
Northern Trust Corp. 39,590 2,693,308
State Street Corp. 74,811 5,506,838

The accompanying notes are an integral part of the financial statements. 2


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

500 Index Trust B (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Capital markets (continued)
T. Rowe Price Group, Inc. 46,752 $ 3,665,357
The Bank of New York Mellon Corp. 201,942 7,821,214
The Charles Schwab Corp. 203,038 5,967,287
The Goldman Sachs Group, Inc. 73,522 13,496,434
71,398,193
Consumer finance - 0.9%
American Express Company 161,103 14,102,957
Capital One Financial Corp. 100,059 8,166,816
Discover Financial Services 81,531 5,249,781
Navient Corp. 75,913 1,344,419
28,863,973
Diversified financial services - 1.9%
Berkshire Hathaway, Inc., Class B (I) 326,841 45,149,816
CME Group, Inc. 56,274 4,499,388
Intercontinental Exchange Group, Inc. 20,442   3,987,212
Leucadia National Corp. 55,429 1,321,427
McGraw-Hill Financial, Inc. 48,476 4,093,798
Moody’s Corp. 33,620 3,177,090
The NASDAQ OMX Group, Inc. 20,684 877,415
63,106,146
Insurance - 2.7%  
ACE, Ltd. 60,003 6,292,515
Aflac, Inc. 81,338 4,737,939
American International Group, Inc. 255,246 13,788,389
Aon PLC 51,977 4,556,824
Assurant, Inc. 12,911 830,177
Cincinnati Financial Corp. 26,360 1,240,238
Genworth Financial, Inc., Class A (I) 87,807 1,150,272
Lincoln National Corp. 46,731 2,503,847
Loews Corp. 54,277 2,261,180
Marsh & McLennan Companies, Inc. 97,758 5,116,654
MetLife, Inc. 200,271 10,758,558
Principal Financial Group, Inc. 49,022 2,572,184
Prudential Financial, Inc. 82,578 7,261,909
The Allstate Corp. 77,153 4,734,880
The Chubb Corp. 43,731 3,983,019
The Hartford Financial Services Group, Inc. 79,438 2,959,066
The Progressive Corp. 97,791 2,472,156
The Travelers Companies, Inc. 61,005 5,730,810
Torchmark Corp. 23,518 1,231,638
Unum Group 46,349 1,593,479
XL Group PLC 49,297 1,635,181
87,410,915
Real estate investment trusts - 2.1%
American Tower Corp. 70,411 6,592,582
Apartment Investment & Management
       Company, Class A 26,440 841,321
AvalonBay Communities, Inc. 23,781 3,352,408
Boston Properties, Inc. 27,145 3,142,305
Crown Castle International Corp. 59,747 4,811,426
Equity Residential 65,499 4,033,428
Essex Property Trust, Inc. 11,536 2,062,060
General Growth Properties, Inc. 113,733 2,678,412
HCP, Inc. 81,847 3,250,144
Health Care REIT, Inc. 58,839 3,669,788
Host Hotels & Resorts, Inc. 134,267 2,863,915
Iron Mountain, Inc. 30,235 987,173
Kimco Realty Corp. 73,252 1,604,951
Plum Creek Timber Company, Inc. 31,334 1,222,339
Prologis, Inc. 89,246 3,364,574
Public Storage 25,823 4,282,486
Simon Property Group, Inc. 55,923 9,194,860
The Macerich Company 24,990 1,595,112
Ventas, Inc. 52,699 3,264,703
Vornado Realty Trust 31,166 3,115,353
Weyerhaeuser Company 95,437 3,040,623
68,969,963
Real estate management and development - 0.0%
CBRE Group, Inc., Class A (I) 49,887 1,483,639
Thrifts and mortgage finance - 0.1%
Hudson City Bancorp, Inc. 85,972 835,648
People’s United Financial, Inc. 55,777 807,093
1,642,741
512,892,028
Health care - 13.5%
Biotechnology - 2.8%
Alexion Pharmaceuticals, Inc. (I) 35,271 5,848,637
Amgen, Inc. 135,905 19,089,216
Biogen Idec, Inc. (I) 42,157 13,945,957
Celgene Corp. (I) 142,828 13,537,238
Gilead Sciences, Inc. (I) 271,382 28,888,614
Regeneron Pharmaceuticals, Inc. (I) 13,343 4,810,418
Vertex Pharmaceuticals, Inc. (I) 42,039 4,721,400
90,841,480
Health care equipment and supplies - 2.0%
Abbott Laboratories 269,665 11,215,367
Baxter International, Inc. 96,900 6,954,513
Becton, Dickinson and Company 34,379 3,912,674
Boston Scientific Corp. (I) 235,041 2,775,834
C.R. Bard, Inc. 13,843 1,975,535
CareFusion Corp. (I) 36,840 1,667,010
Covidien PLC 80,364 6,952,290
DENTSPLY International, Inc. 24,977 1,138,951
Edwards Lifesciences Corp. (I) 19,039 1,944,834
Intuitive Surgical, Inc. (I) 6,479 2,992,132
Medtronic, Inc. 176,004 10,903,448
St. Jude Medical, Inc. 50,629 3,044,322
Stryker Corp. 54,588 4,407,981
Varian Medical Systems, Inc. (I) 18,437 1,477,172
Zimmer Holdings, Inc. 30,066 3,023,136
64,385,199
Health care providers and services - 2.1%
Aetna, Inc. 62,760 5,083,560
AmerisourceBergen Corp. 38,466 2,973,422
Cardinal Health, Inc. 61,136 4,580,309
Cigna Corp. 47,024 4,264,607
DaVita HealthCare Partners, Inc. (I) 31,444 2,299,814
Express Scripts Holding Company (I) 133,881 9,456,015
Humana, Inc. 27,429 3,573,724
Laboratory Corp. of America Holdings (I) 15,212 1,547,821
McKesson Corp. 41,835 8,144,019
Patterson Companies, Inc. 14,940 618,964
Quest Diagnostics, Inc. 25,794 1,565,180
Tenet Healthcare Corp. (I) 17,627 1,046,868
UnitedHealth Group, Inc. 174,490 15,049,763
Universal Health Services, Inc., Class B 16,603 1,735,014
WellPoint, Inc. 49,049 5,867,241
67,806,321
Health care technology - 0.1%
Cerner Corp. (I) 55,655 3,315,368

The accompanying notes are an integral part of the financial statements. 3


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

500 Index Trust B (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Life sciences tools and services - 0.5%
Agilent Technologies, Inc. 59,509 $ 3,390,823
PerkinElmer, Inc. 19,872 866,419
Thermo Fisher Scientific, Inc. 71,682 8,723,699
Waters Corp. (I) 15,127 1,499,388
14,480,329
Pharmaceuticals - 6.0%
AbbVie, Inc. 285,995   16,519,071
Actavis PLC (I) 47,435 11,445,117
Allergan, Inc. 53,204 9,480,421
Bristol-Myers Squibb Company 296,632 15,181,626
Eli Lilly & Company 175,768 11,398,555
Hospira, Inc. (I) 29,832 1,552,159
Johnson & Johnson 505,078 53,836,264
Mallinckrodt PLC (I) 20,236 1,824,275
Merck & Company, Inc. 517,602 30,683,447
Mylan, Inc. (I) 66,312 3,016,533
Perrigo Company PLC 23,847   3,581,581
Pfizer, Inc. 1,137,373 33,632,120
Zoetis, Inc. 89,556 3,309,094
195,460,263
436,288,960
Industrials - 10.0%
Aerospace and defense - 2.6%
General Dynamics Corp. 56,707 7,206,893
Honeywell International, Inc. 139,830 13,020,970
L-3 Communications Holdings, Inc. 15,304 1,819,952
Lockheed Martin Corp. 48,114 8,794,277
Northrop Grumman Corp. 37,454 4,934,939
Precision Castparts Corp. 25,924 6,140,877
Raytheon Company 56,051 5,695,903
Rockwell Collins, Inc. 24,197 1,899,465
Textron, Inc. 49,979 1,798,744
The Boeing Company 120,151 15,304,834
United Technologies Corp. 153,017 16,158,595
82,775,449
Air freight and logistics - 0.7%
C.H. Robinson Worldwide, Inc. 26,342 1,747,001
Expeditors International of Washington, Inc. 36,493 1,480,886
FedEx Corp. 47,490 7,667,261
United Parcel Service, Inc., Class B 126,647 12,448,134
23,343,282
Airlines - 0.3%
Delta Air Lines, Inc. 151,036 5,459,951
Southwest Airlines Company 120,747 4,077,626
9,537,577
Building products - 0.1%
Allegion PLC 19,000 905,160
Masco Corp. 63,056 1,508,300
2,413,460
Commercial services and supplies - 0.4%
Cintas Corp. 17,901 1,263,632
Pitney Bowes, Inc. 35,695 892,018
Republic Services, Inc. 44,002 1,716,958
Stericycle, Inc. (I) 15,110 1,761,222
The ADT Corp. (L) 32,694 1,159,329
Tyco International, Ltd. 78,327 3,491,034
Waste Management, Inc. 77,301 3,674,117
13,958,310
Construction and engineering - 0.1%
Fluor Corp. 28,474 1,901,778
Jacobs Engineering Group, Inc. (I) 23,418 1,143,267
Quanta Services, Inc. (I) 38,631 1,401,919
4,446,964
Electrical equipment - 0.6%
AMETEK, Inc. 43,889 2,203,667
Eaton Corp. PLC 84,745 5,370,291
Emerson Electric Company 125,493 7,853,352
Rockwell Automation, Inc. 24,636 2,707,004
18,134,314
Industrial conglomerates - 2.3%
3M Company 116,443 16,497,644
Danaher Corp. 109,008 8,282,428
General Electric Company 1,797,164 46,043,342
Roper Industries, Inc. 17,768 2,599,281
73,422,695
Machinery - 1.5%
Caterpillar, Inc. 111,995 11,090,865
Cummins, Inc. 30,952 4,085,045
Deere & Company 64,024 5,249,328
Dover Corp. 30,126 2,420,022
Flowserve Corp. 24,413 1,721,605
Illinois Tool Works, Inc. 65,697 5,546,141
Ingersoll-Rand PLC 48,874 2,754,539
Joy Global, Inc. (L) 17,890 975,721
PACCAR, Inc. 63,314 3,600,984
Pall Corp. 19,604 1,640,855
Parker Hannifin Corp. 26,591 3,035,363
Pentair PLC 35,322 2,313,238
Snap-on, Inc. 10,401 1,259,353
Stanley Black & Decker, Inc. 27,574 2,448,295
Xylem, Inc. 32,717 1,161,126
49,302,480
Professional services - 0.2%
Equifax, Inc. 21,608 1,614,982
Nielsen NV 54,661 2,423,122
Robert Half International, Inc. 24,749 1,212,701
The Dun & Bradstreet Corp. 6,774 795,742
6,046,547
Road and rail - 1.0%
CSX Corp. 180,085 5,773,525
Kansas City Southern 19,571 2,372,005
Norfolk Southern Corp. 55,225 6,163,110
Ryder Systems, Inc. 9,347 840,950
Union Pacific Corp. 160,760 17,429,599
32,579,189
Trading companies and distributors - 0.2%
Fastenal Company (L) 48,499 2,177,605
United Rentals, Inc. (I) 17,279 1,919,697
W.W. Grainger, Inc. 10,856 2,731,912
6,829,214
322,789,481
Information technology - 19.0%
Communications equipment - 1.6%
Cisco Systems, Inc. 911,826 22,950,660
F5 Networks, Inc. (I) 13,454 1,597,528
Harris Corp. 19,014 1,262,530
Juniper Networks, Inc. 72,720 1,610,748

The accompanying notes are an integral part of the financial statements. 4


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

500 Index Trust B (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Communications equipment (continued)
Motorola Solutions, Inc. 40,278 $ 2,548,792
QUALCOMM, Inc. 300,890 22,497,545
52,467,803
Electronic equipment, instruments and components - 0.4%
Amphenol Corp., Class A 28,081 2,804,169
Corning, Inc. 228,190 4,413,195
FLIR Systems, Inc. 25,188 789,392
Jabil Circuit, Inc. 34,240 690,621
TE Connectivity, Ltd. 72,956 4,033,737
12,731,114
Internet software and services - 3.3%  
Akamai Technologies, Inc. (I) 31,918 1,908,696
eBay, Inc. (I) 201,424 11,406,641
Facebook, Inc., Class A (I) 349,550   27,628,432
Google, Inc., Class A (I) 51,030 30,026,562
Google, Inc., Class C (I) 51,027 29,460,949
VeriSign, Inc. (I) 19,436 1,071,312
Yahoo!, Inc. (I) 163,810 6,675,258
108,177,850
IT services - 3.2%
Accenture PLC, Class A 113,500 9,229,820
Alliance Data Systems Corp. (I) 10,128 2,514,479
Automatic Data Processing, Inc. 85,887 7,135,492
Cognizant Technology
       Solutions Corp., Class A (I) 108,258 4,846,711
Computer Sciences Corp. 25,887 1,582,990
Fidelity National Information Services, Inc. 51,933 2,923,828
Fiserv, Inc. (I) 45,151 2,918,335
International Business Machines Corp. 166,395 31,586,763
MasterCard, Inc., Class A 176,484 13,045,697
Paychex, Inc. 57,738 2,552,020
Teradata Corp. (I) 28,385 1,189,899
The Western Union Company 98,277 1,576,363
Total System Services, Inc. 29,668 918,521
Visa, Inc., Class A 88,232 18,826,062
Xerox Corp. 198,682 2,628,563
103,475,543
Semiconductors and semiconductor equipment - 2.4%
Altera Corp. 56,492 2,021,284
Analog Devices, Inc. 55,876 2,765,303
Applied Materials, Inc. 215,913 4,665,880
Avago Technologies, Ltd. 45,588 3,966,156
Broadcom Corp., Class A 94,506 3,819,933
First Solar, Inc. (I) 12,742 838,551
Intel Corp. 888,379 30,933,357
KLA-Tencor Corp. 29,806 2,348,117
Lam Research Corp. 28,758 2,148,223
Linear Technology Corp. 42,263 1,876,055
Microchip Technology, Inc. (L) 35,302 1,667,313
Micron Technology, Inc. (I) 194,084 6,649,318
NVIDIA Corp. 90,579 1,671,183
Texas Instruments, Inc. 193,236 9,215,425
Xilinx, Inc. 47,400 2,007,390
76,593,488
Software - 3.7%
Adobe Systems, Inc. (I) 84,971 5,879,143
Autodesk, Inc. (I) 40,614 2,237,831
CA, Inc. 57,744 1,613,367
Citrix Systems, Inc. (I) 29,748 2,122,222
Electronic Arts, Inc. (I) 54,941 1,956,449
Intuit, Inc. 50,630 4,437,720
Microsoft Corp. 1,477,548 68,499,125
Oracle Corp. 583,511 22,336,801
Red Hat, Inc. (I) 33,982 1,908,089
Salesforce.com, Inc. (I) 102,744 5,910,862
Symantec Corp. 123,672 2,907,529
119,809,138
Technology hardware, storage and peripherals - 4.4%
Apple, Inc. 1,073,436 108,148,677
EMC Corp. 362,146 10,596,392
Hewlett-Packard Company 333,490 11,828,890
NetApp, Inc. 55,353 2,377,965
SanDisk Corp. 40,119 3,929,656
Seagate Technology PLC 58,627 3,357,568
Western Digital Corp. 39,740 3,867,497
144,106,645
617,361,581
Materials - 3.3%
Chemicals - 2.5%
Air Products & Chemicals, Inc. 34,526 4,494,595
Airgas, Inc. 11,786 1,304,121
CF Industries Holdings, Inc. 8,645 2,413,857
E.I. du Pont de Nemours & Company 162,988 11,696,019
Eastman Chemical Company 27,011 2,184,920
Ecolab, Inc. 48,182 5,532,739
FMC Corp. 23,672 1,353,802
International Flavors & Fragrances, Inc. 14,376 1,378,371
LyondellBasell Industries NV, Class A 76,488 8,311,186
Monsanto Company 93,656 10,537,237
PPG Industries, Inc. 24,717 4,862,823
Praxair, Inc. 52,499 6,772,371
Sigma-Aldrich Corp. 21,295 2,896,333
The Dow Chemical Company 201,809 10,582,864
The Mosaic Company 57,237 2,541,895
The Sherwin-Williams Company 15,151 3,317,917
80,181,050
Construction materials - 0.1%
Martin Marietta Materials, Inc. 10,596 1,366,248
Vulcan Materials Company 23,382 1,408,298
2,774,546
Containers and packaging - 0.2%
Avery Dennison Corp. 17,171 766,685
Ball Corp. 25,136 1,590,355
Bemis Company, Inc. 18,366 698,275
MeadWestvaco Corp. 30,775 1,259,929
Owens-Illinois, Inc. (I) 29,467 767,615
Sealed Air Corp. 39,537 1,379,051
6,461,910
Metals and mining - 0.4%
Alcoa, Inc. 212,384 3,417,259
Allegheny Technologies, Inc. 19,183 711,689
Freeport-McMoRan Copper & Gold, Inc. 185,230 6,047,760
Newmont Mining Corp. 88,747 2,045,618
Nucor Corp. 56,516 3,067,688
15,290,014
Paper and forest products - 0.1%
International Paper Company 74,792 3,570,570
108,278,090

The accompanying notes are an integral part of the financial statements. 5


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

500 Index Trust B (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Telecommunication services - 2.4%
Diversified telecommunication services - 2.4%
AT&T, Inc. 927,731 $ 32,693,240
CenturyLink, Inc. 103,096 4,215,595
Frontier Communications Corp. (L) 176,258 1,147,440
Verizon Communications, Inc. 744,851 37,235,101
Windstream Holdings, Inc. (L) 107,341 1,157,136
76,448,512
Utilities - 2.9%
Electric utilities - 1.7%
American Electric Power Company, Inc. 87,211 4,553,286
Duke Energy Corp. 127,959 9,567,494
Edison International 58,122 3,250,182  
Entergy Corp. 31,757 2,455,769
Exelon Corp. 152,594 5,201,929
FirstEnergy Corp. 74,686 2,507,209
NextEra Energy, Inc.   79,088 7,424,781
Northeast Utilities 56,046 2,482,838
Pepco Holdings, Inc. 44,158   1,181,668
Pinnacle West Capital Corp. 19,888   1,086,680
PPL Corp. 120,052 3,942,508
The Southern Company 161,553 7,051,788
Xcel Energy, Inc. 89,122 2,709,309
53,415,441
Gas utilities - 0.0%
AGL Resources, Inc. 21,385 1,097,906
Independent power and renewable electricity producers - 0.1%
AES Corp. 116,465 1,651,474
NRG Energy, Inc. 62,041 1,891,010
3,542,484
Multi-utilities - 1.1%
Ameren Corp. 43,586 1,670,651
CenterPoint Energy, Inc. 76,690 1,876,604
CMS Energy Corp. 47,865 1,419,676
Consolidated Edison, Inc. 52,192 2,957,199
Dominion Resources, Inc. 105,737 7,305,369
DTE Energy Company 31,493 2,395,987
Integrys Energy Group, Inc. 14,424 934,964
NiSource, Inc. 55,637 2,280,004
PG&E Corp. 85,298 3,841,822
Public Service Enterprise Group, Inc. 90,151 3,357,223
SCANA Corp. 25,370 1,258,606
Sempra Energy 40,658 4,284,540
TECO Energy, Inc. 46,084 800,940
Wisconsin Energy Corp. (L) 39,979 1,719,097
36,102,682
94,158,513
TOTAL COMMON STOCKS (Cost $1,770,774,064) $ 3,139,738,830
     
SECURITIES LENDING COLLATERAL - 0.6%
John Hancock Collateral
       Investment Trust, 0.1178% (W)(Y) 2,060,555 20,620,182
TOTAL SECURITIES LENDING
COLLATERAL (Cost $20,620,140) $ 20,620,182
             
SHORT-TERM INVESTMENTS - 3.2%
Repurchase agreement - 3.2%
Repurchase Agreement with State Street Corp.
       dated 09/30/2014 at 0.000% to be
       repurchased at $103,344,000 on 10/01/2014,
       collateralized by $94,120,000 U.S. Treasury
       Bonds, 3.750% due 11/15/2043 (valued at
       $105,414,400, including interest)   103,344,000     103,344,000
TOTAL SHORT-TERM INVESTMENTS (Cost $103,344,000) $ 103,344,000
Total Investments (500 Index Trust B)
       (Cost $1,894,738,204) - 100.6% $ 3,263,703,012
Other assets and liabilities, net - (0.6%) (20,029,480 )
TOTAL NET ASSETS - 100.0% $ 3,243,673,532

Active Bond Trust

Shares or
Principal
Amount Value
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS - 23.2%
U.S. government - 6.0%
U.S. Treasury Bonds
       3.125%, 02/15/2042 $ 4,850,000 $ 4,803,013
       3.375%, 05/15/2044 20,565,000   21,233,363
U.S. Treasury Notes
       2.375%, 12/31/2020 to 08/15/2024   24,728,000 24,518,170
50,554,546
U.S. government agency - 17.2%
Federal Home Loan Bank
       2.900%, 09/05/2025 300,000 287,685
       3.170%, 10/04/2027 310,000 295,756
       3.250%, 06/21/2027 415,152 406,360
Federal Home Loan Mortgage Corp.
       2.559%, 06/01/2044 (P) 804,669 824,100
       2.697%, 05/01/2044 (P) 807,911 830,908
       3.000%, 03/01/2043 2,212,798 2,202,512
       3.032%, 03/01/2044 (P) 240,794 248,696
       4.000%, 11/01/2043 to 02/01/2044 2,661,515 2,812,165
       4.500%, 09/01/2023 to 10/01/2041 7,068,009 7,629,357
       5.000%, 03/01/2041 to 04/01/2041 2,599,505 2,872,832
       5.500%, 07/01/2037 48,820 54,418
Federal National Mortgage Association
       2.113%, 08/01/2034 (P) 1,723,035 1,822,651
       2.497%, 07/01/2033 (P) 46,507 49,854
       2.531%, 06/01/2044 (P) 1,422,359 1,456,949
       2.549%, 04/01/2044 (P) 1,398,928 1,435,018
       2.910%, 03/01/2044 (P) 214,361 220,939
       3.000%, TBA (C) 13,750,000 13,554,358
       3.000%, 07/01/2027 to 05/01/2043 5,060,672 5,044,113
       3.400%, 09/27/2032 1,145,000 1,082,831
       3.500%, 02/01/2026 to 06/01/2042 9,050,209 9,357,829
       4.000%, 12/01/2024 to 01/01/2044 18,501,180 19,627,932
       4.500%, 08/01/2040 to 08/01/2041 20,479,481 22,189,810
       5.000%, 05/01/2018 to 04/01/2041 17,914,891 19,818,845
       5.500%, 02/01/2018 to 11/01/2039 10,492,724 11,718,584
       6.000%, 05/01/2035 to 02/01/2036 5,920,521 6,683,064
       6.500%, 02/01/2036 to 06/01/2039 3,040,526 3,435,117
       7.000%, 04/01/2017 to 06/01/2032 353,981 408,703
       7.500%, 09/01/2029 to 08/01/2031 81,250 96,395

The accompanying notes are an integral part of the financial statements. 6


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Active Bond Trust (continued)

Shares or
Principal
Amount        Value
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS (continued)
U.S. government agency (continued)
Government National
       Mortgage Association
       4.000%, 02/15/2041 $ 6,081,213 $ 6,482,627
       5.000%, 04/15/2035 929,876 1,031,825
       5.500%, 03/15/2035 525,810 591,331
       6.000%, 03/15/2033 to 06/15/2033 409,984 466,463
       6.500%, 09/15/2028 to 08/15/2031 107,546 123,687
       7.000%, 04/15/2029 59,143 69,146
       8.000%, 10/15/2026 to 05/15/2029 78,237 92,789
145,325,649
TOTAL U.S. GOVERNMENT AND AGENCY
OBLIGATIONS (Cost $193,877,275) $ 195,880,195
         
FOREIGN GOVERNMENT
OBLIGATIONS - 0.6%
Argentina - 0.1%
City of Buenos Aires
       9.950%, 03/01/2017 (S) 620,000 620,620
Republic of Argentina
       8.280%, 12/31/2033 (H) 455,662 391,870
       9.224%, 12/15/2035 (I)(P) ARS 19,532,033 143,592
  1,156,082
Germany - 0.2%
Federal Republic of Germany    
       6.250%, 01/04/2030 EUR 725,000 1,519,349
Mexico - 0.1%
Government of Mexico
       8.000%, 12/07/2023 MXN 11,861,100 1,000,244
Panama - 0.1%
Republic of Panama
       8.875%, 09/30/2027 $ 344,000 490,200
       9.375%, 04/01/2029 130,000 192,725
682,925
Peru - 0.0%
Republic of Peru
       9.875%, 02/06/2015 111,000 114,152
United Kingdom - 0.1%
Government of United Kingdom
       6.000%, 12/07/2028 GBP 85,000 192,282
       8.000%, 12/07/2015 125,000 220,511
  412,793
TOTAL FOREIGN GOVERNMENT
OBLIGATIONS (Cost $4,175,503) $ 4,885,545
         
CORPORATE BONDS - 42.8%
Consumer discretionary - 4.5%
21st Century Fox America, Inc.
       6.150%, 03/01/2037 $ 210,000 249,769
       6.400%, 12/15/2035 205,000 254,159
       6.650%, 11/15/2037 1,000,000 1,253,481
       6.750%, 01/09/2038 108,000 132,317
       7.750%, 12/01/2045 491,000 701,600
Advance Auto Parts, Inc.
       4.500%, 12/01/2023 650,000 678,907
AMC Entertainment, Inc.
       5.875%, 02/15/2022 555,000 559,163
Arcos Dorados Holdings, Inc.
       10.250%, 07/13/2016 (S) BRL 1,120,000 427,821
AutoNation, Inc.
       5.500%, 02/01/2020 975,000 1,062,750
Bed Bath & Beyond, Inc.
       3.749%, 08/01/2024 280,000 277,707
       5.165%, 08/01/2044 280,000 274,165
Brinker International, Inc.
       3.875%, 05/15/2023 740,000 726,716
CCM Merger, Inc.
       9.125%, 05/01/2019 (S) 490,000 516,950
Chrysler Group LLC
       8.000%, 06/15/2019 245,000 260,006
Comcast Corp.
       6.550%, 07/01/2039 1,000,000 1,306,843
Conn’s, Inc.
       7.250%, 07/15/2022 (L)(S) 685,000 583,106
Dana Holding Corp.
       6.000%, 09/15/2023 565,000 583,363
Delphi Corp.
       5.000%, 02/15/2023 1,505,000 1,610,350
Ford Motor Company
       4.750%, 01/15/2043 215,000 215,180
Ford Motor Credit Company LLC
       5.875%, 08/02/2021 2,644,000 3,040,761
       8.000%, 12/15/2016 624,000 709,726
General Motors Company
       4.875%, 10/02/2023 665,000 703,238
       6.250%, 10/02/2043 600,000 702,000
General Motors Financial Company, Inc.
       4.375%, 09/25/2021 460,000 470,350
Grain Spectrum Funding II LLC
       3.290%, 10/10/2019 (S) 500,000 498,245
Harley-Davidson Financial Services, Inc.
       2.700%, 03/15/2017 (S) 1,000,000 1,027,754
Hot Topic, Inc.
       9.250%, 06/15/2021 (S) 325,000 347,750
Hyatt Hotels Corp.
       3.375%, 07/15/2023 1,160,000 1,129,000
Jo-Ann Stores Holdings, Inc., PIK
       9.750%, 10/15/2019 (S) 715,000 664,950
L Brands, Inc.
       6.625%, 04/01/2021 805,000 887,513
Macy’s Retail Holdings, Inc.
       7.875%, 08/15/2036 802,000 882,947
MDC Holdings, Inc.
       5.500%, 01/15/2024 670,000 660,182
Myriad International Holdings BV
       6.000%, 07/18/2020 (S) 300,000 325,500
New Look Bondco I PLC
       8.375%, 05/14/2018 (S) 265,000 276,263
Pearson Funding Five PLC
       3.250%, 05/08/2023 (S) 660,000 631,038
Quiksilver, Inc.
       7.875%, 08/01/2018 (L)(S) 585,000 523,575
QVC, Inc.
       4.375%, 03/15/2023 450,000 449,073
       5.125%, 07/02/2022 400,000 420,333
       5.450%, 08/15/2034 (S) 475,000 466,545
Seminole Indian Tribe of Florida
       6.535%, 10/01/2020 (S) 505,000 618,125
Stackpole International Intermediate
       Company SA
       7.750%, 10/15/2021 (S) 325,000 327,438

The accompanying notes are an integral part of the financial statements. 7


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Active Bond Trust (continued)

Shares or
Principal
Amount        Value
CORPORATE BONDS (continued)
Consumer discretionary (continued)
Target Corp.
       6.500%, 10/15/2037 $ 657,000 $ 845,989
The Hillman Group, Inc.  
       6.375%, 07/15/2022 (S) 170,000 164,475
Time Warner Cable, Inc.
       4.500%, 09/15/2042 850,000 838,772
       5.500%, 09/01/2041 750,000 844,260
       8.250%, 04/01/2019 510,000 633,615
Time Warner Companies, Inc.
       7.570%, 02/01/2024 716,000 914,336
Time Warner Entertainment Company LP
       8.375%, 07/15/2033 300,000 443,139
Time Warner, Inc.
       7.625%, 04/15/2031 451,000 608,747
Toll Brothers Finance Corp.
       4.000%, 12/31/2018 600,000 599,250
Tops Holding II Corp.  
       8.750%, 06/15/2018 340,000   340,000
Viacom, Inc.
       4.375%, 03/15/2043 1,142,000 1,051,443
       6.125%, 10/05/2017 750,000 847,049
Waterford Gaming LLC
       8.625%, 09/15/2014 (H)(S) 409,830 35,019
WideOpenWest Finance LLC
       10.250%, 07/15/2019 160,000 172,800
Yum! Brands, Inc.
       3.875%, 11/01/2023 600,000 603,614
       5.350%, 11/01/2043 600,000 652,563
       6.250%, 03/15/2018 155,000 175,985
       6.875%, 11/15/2037 292,000 369,140
37,576,855
Consumer staples - 1.8%
Ajecorp BV
       6.500%, 05/14/2022 (S) 575,000 523,538
Alliance One International, Inc.
       9.875%, 07/15/2021 1,115,000 1,087,125
Anheuser-Busch Companies, Inc.
       6.500%, 02/01/2043 540,000 703,134
Bunge, Ltd. Finance Corp.
       8.500%, 06/15/2019 455,000 565,168
Crestview DS Merger Sub II, Inc.
       10.000%, 09/01/2021 475,000 524,875
CVS Pass-Through Trust
       8.353%, 07/10/2031 (S) 1,192,300 1,606,944
Fomento Economico Mexicano SAB
       de CV
       4.375%, 05/10/2043 1,000,000 903,820
Harbinger Group, Inc.
       7.875%, 07/15/2019 480,000 511,200
Kraft Foods Group, Inc.
       6.125%, 08/23/2018 817,000 937,371
Prestige Brands, Inc.
       5.375%, 12/15/2021 (S) 345,000 324,300
Revlon Consumer Products Corp.
       5.750%, 02/15/2021 420,000 411,600
Reynolds American, Inc.
       4.850%, 09/15/2023 1,000,000 1,065,401
SABMiller PLC
       6.500%, 07/15/2018 (S) 715,000 825,314
Safeway, Inc.
       4.750%, 12/01/2021 210,000 211,838
       5.000%, 08/15/2019 1,190,000 1,192,833
       6.350%, 08/15/2017 164,000 172,961
TESCO PLC
       6.150%, 11/15/2037 (S) 900,000 925,340
The Kroger Company
       7.000%, 05/01/2018 1,105,000 1,279,197
Tops Holding Corp.
       8.875%, 12/15/2017 202,000 210,585
Tyson Foods, Inc.
       3.950%, 08/15/2024 415,000 415,845
Vector Group, Ltd.
       7.750%, 02/15/2021 390,000 410,475
14,808,864
Energy - 6.2%
Access Midstream Partners LP
       4.875%, 05/15/2023 to 03/15/2024 785,000 804,369
Afren PLC
       6.625%, 12/09/2020 (S) 400,000 381,000
       10.250%, 04/08/2019 (S) 290,000 310,300
Anadarko Petroleum Corp.
       6.450%, 09/15/2036 1,000,000 1,218,617
Astoria Depositor Corp.
       8.144%, 05/01/2021 (S) 835,000 876,750
Baytex Energy Corp.
       5.625%, 06/01/2024 (S) 95,000 91,200
Boardwalk Pipelines LP
       3.375%, 02/01/2023 850,000 791,219
BP Capital Markets PLC
       2.750%, 05/10/2023 530,000 500,712
California Resources Corp.
       5.500%, 09/15/2021 (S) 380,000 385,700
       6.000%, 11/15/2024 (S) 740,000 760,350
Cameron International Corp.
       5.950%, 06/01/2041 1,178,000 1,377,658
Cimarex Energy Company
       4.375%, 06/01/2024 655,000 658,406
CNOOC Finance 2003, Ltd.
       5.500%, 05/21/2033 (S) 545,000 609,246
CNOOC Finance 2013, Ltd.
       3.000%, 05/09/2023 655,000 608,844
Compressco Partners LP
       7.250%, 08/15/2022 (S) 360,000 360,900
Continental Resources, Inc.
       5.000%, 09/15/2022 1,175,000 1,239,625
DCP Midstream LLC
       9.750%, 03/15/2019 (S) 565,000 723,620
DCP Midstream LLC (5.850% to
       05/21/2023, then 3 month
       LIBOR + 3.850%)
       05/21/2043 (S) 1,760,000 1,738,000
DCP Midstream Operating LP
       3.875%, 03/15/2023 335,000 335,494
Denbury Resources, Inc.
       5.500%, 05/01/2022 370,000 367,225
Devon Energy Corp.
       4.000%, 07/15/2021 1,000,000 1,056,238
Devon Financing Corp. ULC
       7.875%, 09/30/2031 874,000 1,208,399
Ecopetrol SA
       5.875%, 09/18/2023 290,000 320,088
El Paso Pipeline Partners Operating
       Company LLC
       5.000%, 10/01/2021 500,000 538,068
Enbridge Energy Partners LP
       7.500%, 04/15/2038 600,000 795,603

The accompanying notes are an integral part of the financial statements. 8


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Active Bond Trust (continued)

Shares or
Principal
Amount       Value
CORPORATE BONDS (continued)    
Energy (continued)    
Energy Transfer Partners LP      
       4.150%, 10/01/2020 $ 1,000,000 $ 1,038,684
       9.700%, 03/15/2019 535,000   684,734
Energy XXI Gulf Coast, Inc.    
       6.875%, 03/15/2024 (S) 210,000   197,400
Enterprise Products Operating LLC    
       6.650%, 04/15/2018 750,000   870,241
       6.875%, 03/01/2033 471,000   607,970
Enterprise Products Operating LLC    
       (7.000% to 06/01/2017, then 3 month      
       LIBOR + 2.778%)    
       06/01/2067   900,000   951,417
Enterprise Products Operating LLC    
       (8.375% to 8-1-16, then 3 month      
       LIBOR + 3.708%)    
       08/01/2066 665,000   731,500
EP Energy LLC    
       7.750%, 09/01/2022 335,000   354,263
EV Energy Partners LP    
       8.000%, 04/15/2019 555,000   574,425
Exterran Partners LP    
       6.000%, 04/01/2021 205,000   199,363
FTS International, Inc.    
       6.250%, 05/01/2022 (S) 270,000   265,275
Halcon Resources Corp.    
       8.875%, 05/15/2021 295,000   290,575
Hess Corp.    
       5.600%, 02/15/2041 800,000   898,447
Jones Energy Holdings LLC    
       6.750%, 04/01/2022 (S) 235,000   235,000
Kerr-McGee Corp.    
       6.950%, 07/01/2024 510,000   641,949
Key Energy Services, Inc.    
       6.750%, 03/01/2021 455,000   437,938
Kinder Morgan Energy Partners LP    
       4.150%, 03/01/2022 500,000   505,261
       5.800%, 03/15/2035 402,000   422,559
       7.300%, 08/15/2033 603,000   719,518
       7.750%, 03/15/2032 285,000   357,672
Kosmos Energy, Ltd.    
       7.875%, 08/01/2021 (S) 310,000   313,100
Lukoil International Finance BV    
       3.416%, 04/24/2018 (S) 950,000   889,438
Marathon Oil Corp.    
       6.800%, 03/15/2032 785,000   982,575
MarkWest Energy Partners LP    
       6.500%, 08/15/2021 369,000   389,295
Midstates Petroleum Company, Inc.    
       9.250%, 06/01/2021 700,000   694,750
Newfield Exploration Company    
       5.750%, 01/30/2022 715,000   766,838
Nexen Energy ULC    
       5.875%, 03/10/2035 598,000   684,990
       6.400%, 05/15/2037 775,000   944,408
Noble Holding International, Ltd.    
       5.250%, 03/15/2042 500,000   455,801
Nostrum Oil & Gas Finance BV    
       6.375%, 02/14/2019 (S) 525,000   527,625
Offshore Group Investment, Ltd.    
       7.125%, 04/01/2023 300,000   264,375
ONEOK Partners LP    
       6.650%, 10/01/2036 835,000   994,499
Pacific Rubiales Energy Corp.    
       5.125%, 03/28/2023 (S) 400,000   382,120
       5.375%, 01/26/2019 (S) 485,000   491,669
Petro-Canada    
       6.050%, 05/15/2018 745,000   849,664
Petrobras Global Finance BV    
       4.375%, 05/20/2023 420,000   393,553
Petrobras International Finance Company    
       5.375%, 01/27/2021 400,000   403,960
Petroleos de Venezuela SA    
       5.375%, 04/12/2027 930,000   461,280
Petroleos Mexicanos    
       4.875%, 01/24/2022 330,000   350,625
Plains All American Pipeline LP    
       3.600%, 11/01/2024 410,000   402,508
Plains Exploration & Production Company    
       6.500%, 11/15/2020 455,000   498,280
       6.750%, 02/01/2022 679,000   751,993
       6.875%, 02/15/2023 228,000   258,780
Precision Drilling Corp.    
       6.625%, 11/15/2020 315,000   326,813
Regency Energy Partners LP    
       5.000%, 10/01/2022 145,000   143,188
       5.500%, 04/15/2023 600,000   609,000
       5.875%, 03/01/2022 145,000   151,163
Rex Energy Corp.    
       8.875%, 12/01/2020 305,000   327,875
RKI Exploration & Production LLC    
       8.500%, 08/01/2021 (S) 370,000   382,025
Rowan Companies, Inc.    
       4.875%, 06/01/2022 415,000   431,227
Spectra Energy Capital LLC    
       6.750%, 02/15/2032 589,000   700,484
Summit Midstream Holdings LLC    
       7.500%, 07/01/2021 230,000   246,100
Sunoco Logistics Partners Operations LP    
       3.450%, 01/15/2023 1,080,000   1,047,760
Talisman Energy, Inc.    
       6.250%, 02/01/2038 1,025,000   1,143,472
Teine Energy, Ltd.    
       6.875%, 09/30/2022 (S) 370,000   363,063
TransCanada Pipelines, Ltd. (6.350% to    
       5-15-17, then 3 month    
       LIBOR + 2.210%)    
       05/15/2067 815,000   841,488
Transocean, Inc.    
       6.000%, 03/15/2018 500,000   539,219
Trinidad Drilling, Ltd.    
       7.875%, 01/15/2019 (S) 255,000   263,766
Tullow Oil PLC    
       6.000%, 11/01/2020 (S) 380,000   380,000
       6.250%, 04/15/2022 (S) 375,000   366,563
Weatherford International, Ltd.    
       6.500%, 08/01/2036 600,000   692,068
Williams Partners LP    
       4.300%, 03/04/2024 700,000   714,167
WPX Energy, Inc.    
       5.250%, 09/15/2024 185,000   178,988
       6.000%, 01/15/2022 385,000   395,588
  52,437,965
Financials - 17.4%    
Allied World Assurance Company, Ltd.    
       7.500%, 08/01/2016 505,000   559,760

The accompanying notes are an integral part of the financial statements. 9


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Active Bond Trust (continued)

 Shares or
Principal
Amount       Value
CORPORATE BONDS (continued)
Financials (continued)
American Express Bank FSB  
       6.000%, 09/13/2017 $ 585,000 $ 657,998
American International Group, Inc.
       4.125%, 02/15/2024 375,000 389,640
       6.250%, 03/15/2037 100,000 111,986
       6.400%, 12/15/2020 292,000 346,628
American International Group, Inc.
       (8.175% to 05/15/2038, then 3 month
       LIBOR + 4.195%)
       05/15/2058 69,000 92,978
American Tower Corp.
       3.400%, 02/15/2019 390,000 398,531
       4.700%, 03/15/2022 590,000 617,757
       5.000%, 02/15/2024 670,000 702,433
       5.900%, 11/01/2021 800,000 895,258
Aquarius + Investments PLC (6.375% to
       09/01/2019, then 5 Year U.S. Swap
       Rate + 5.210%)
       09/01/2024 335,000 350,604
ARC Properties Operating Partnership LP
       4.600%, 02/06/2024 (S) 980,000 997,917
Aries Vermogensverwaltung GmbH
       9.600%, 10/25/2014 750,000 753,029
Ashtead Capital, Inc.
       5.625%, 10/01/2024 (S) 315,000 318,150
Assurant, Inc.
       4.000%, 03/15/2023 1,260,000 1,266,794
Assured Guaranty US Holdings, Inc.
       5.000%, 07/01/2024 (L) 710,000 717,623
AvalonBay Communities, Inc.
       5.700%, 03/15/2017 750,000 823,249
AXA SA
       8.600%, 12/15/2030 360,000 484,200
AXA SA (6.379% to 12/14/2036, then
       3 month LIBOR + 2.256%)
       12/14/2036 (Q)(S) 365,000 392,375
AXA SA (6.463% to 12/14/2018, then
       3 month LIBOR + 1.449%)
       12/14/2018 (Q)(S) 1,440,000 1,511,107
Banco do Brasil SA (6.250% to 4-15-24,
       then 10 Year U.S. Treasury + 4.398%)
       04/15/2024 (Q)(S) 665,000 509,723
Banco Santander Brasil SA
       8.000%, 03/18/2016 (S) BRL 1,400,000 546,216
Bank of America Corp.
       3.625%, 03/17/2016 $ 550,000 569,861
       4.200%, 08/26/2024 420,000 415,821
       5.000%, 05/13/2021 1,800,000 1,977,089
       5.650%, 05/01/2018 1,000,000 1,112,477
       6.250%, 09/05/2024 (P)(Q) 700,000 695,625
       6.875%, 04/25/2018 920,000 1,061,299
       7.625%, 06/01/2019 1,065,000 1,286,836
Bank of America Corp. (8.000% to
       1-30-18, then 3 month
       LIBOR + 3.630%)
       01/30/2018 (Q) 655,000 706,175
Barclays Bank PLC
       10.179%, 06/12/2021 (S) 720,000 979,072
Boston Properties LP
       3.700%, 11/15/2018 1,043,000 1,104,041
BPCE SA
       4.500%, 03/15/2025 (S) 710,000 689,562
       5.700%, 10/22/2023 (S) 865,000 920,109
Capital One Financial Corp.
       3.500%, 06/15/2023 1,023,000 1,013,556
       4.750%, 07/15/2021 1,195,000 1,299,172
Citigroup, Inc.
       3.500%, 05/15/2023 1,060,000 1,016,485
       3.750%, 06/16/2024 570,000 567,948
       3.875%, 10/25/2023 295,000 298,503
       4.450%, 01/10/2017 1,350,000 1,438,471
       4.500%, 01/14/2022 1,000,000 1,072,427
       5.375%, 08/09/2020 195,000 220,723
       6.125%, 08/25/2036 360,000 412,764
CNA Financial Corp.
       6.500%, 08/15/2016 1,310,000 1,438,612
       7.250%, 11/15/2023 720,000 887,069
Commerzbank AG
       8.125%, 09/19/2023 (S) 865,000 998,643
CommonWealth REIT
       5.875%, 09/15/2020 700,000 754,989
Corrections Corp. of America
       4.625%, 05/01/2023 440,000 425,700
Credit Acceptance Corp.
       6.125%, 02/15/2021 (S) 710,000 722,425
Credit Agricole SA
       6.625%, 09/23/2019 (P)(Q)(S) 665,000 634,095
Credit Agricole SA (7.875% to 1-23-24,
       then 5 Year U.S. Swap Rate + 4.898%)
       01/23/2024 (Q)(S) 835,000 843,350
Credit Agricole SA (8.125% to
       09/19/2018, then 5 Year U.S. Swap
       Rate + 6.283%)
       09/19/2033 (S) 350,000 388,421
Credit Suisse Group AG (7.500% to
       12/11/2023, then 5 year U.S. Swap
       Rate + 4.598%)
       12/11/2023 (Q)(S) 435,000 456,750
Credito Real SAB de CV
       7.500%, 03/13/2019 (S) 700,000 749,000
Crown Castle Towers LLC
       4.883%, 08/15/2020 (S) 750,000 826,835
       6.113%, 01/15/2020 (S) 720,000 832,983
DDR Corp.
       3.500%, 01/15/2021 650,000 654,893
       7.500%, 04/01/2017 1,130,000 1,285,339
Discover Bank
       7.000%, 04/15/2020 150,000 177,500
Discover Financial Services
       5.200%, 04/27/2022 610,000 668,031
Doric Nimrod Air Alpha 2013-1  
       Pass Through Trust
       5.250%, 05/30/2023 (S)   583,761 614,408
       6.125%, 11/30/2019 (S) 278,483 295,192
Dresdner Bank AG
       7.250%, 09/15/2015 627,000 655,553
Enova International, Inc.  
       9.750%, 06/01/2021 (S) 605,000 605,000
EPR Properties
       7.750%, 07/15/2020 921,000 1,110,051
ERP Operating LP
       5.750%, 06/15/2017 1,000,000 1,112,285
Essex Portfolio LP
       5.500%, 03/15/2017 906,000 992,792
Fifth Street Finance Corp.
       4.875%, 03/01/2019 675,000 698,011

The accompanying notes are an integral part of the financial statements. 10


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Active Bond Trust (continued)

Shares or  
Principal
Amount       Value
CORPORATE BONDS (continued)
Financials (continued)
Fifth Third Bancorp (5.100% to 6-30-23,
       then 3 month LIBOR + 3.033%)
       06/30/2023 (Q) $ 650,000 $ 612,625
FS Investment Corp.
       4.000%, 07/15/2019 660,000 659,486
General Electric Capital Corp.
       0.714%, 08/15/2036 (P) 795,000 691,929
       5.550%, 05/04/2020 645,000 738,164
General Electric Capital Corp. (7.125%
       until 6-15-22, then 3 month
       LIBOR + 5.296%)  
       06/15/2022 (Q) 875,000 1,012,813
General Shopping Investments, Ltd.
       (12.000% to 3-20-17, then 5 Year
       USGG + 11.052%)
       03/20/2017 (Q)(S) 635,000 609,600
Genworth Financial, Inc. (6.150% to
       11/15/2016, then 3 month
       LIBOR + 2.003%)
       11/15/2066 500,000 440,000
Goodman Funding Pty, Ltd.
       6.375%, 04/15/2021 (S) 640,000 745,638
Hartford Financial Services Group, Inc.
       5.500%, 03/30/2020 1,000,000 1,129,331
       6.625%, 03/30/2040 500,000 653,397
HBOS PLC
       6.000%, 11/01/2033 (S) 750,000 832,500
       6.750%, 05/21/2018 (S) 1,245,000 1,408,513
HCP, Inc.
       3.875%, 08/15/2024 800,000 783,943
Healthcare Realty Trust, Inc.
       5.750%, 01/15/2021 1,000,000 1,113,686
Highwoods Realty LP
       5.850%, 03/15/2017 1,135,000 1,246,081
HSBC Holdings PLC
       6.375%, 09/17/2024 (P)(Q) 300,000 299,625
ICICI Bank, Ltd.
       4.700%, 02/21/2018 (S) 505,000 533,224
       5.750%, 11/16/2020 (S) 445,000 492,910
ING Bank NV
       5.800%, 09/25/2023 (S) 725,000 798,802
Intercorp Retail Trust
       8.875%, 11/14/2018 (S) 385,000 435,050
Invesco Finance PLC
       3.125%, 11/30/2022 850,000 839,163
Iron Mountain, Inc.
       5.750%, 08/15/2024 555,000 544,594
       6.000%, 08/15/2023 640,000 656,000
iStar Financial, Inc.
       5.000%, 07/01/2019 210,000 202,125
Jefferies Group LLC
       5.125%, 04/13/2018 600,000 653,604
       6.875%, 04/15/2021 725,000 844,839
       8.500%, 07/15/2019 1,050,000 1,297,391
JPMorgan Chase & Company
       3.375%, 05/01/2023 1,250,000 1,197,741
       4.500%, 01/24/2022 1,300,000 1,393,170
       4.625%, 05/10/2021 1,245,000 1,353,799
       6.300%, 04/23/2019 1,000,000 1,160,164
JPMorgan Chase & Company (5.000% to
       07/01/2019, then 3 month
       LIBOR + 3.320%)
       07/01/2019 (Q) 790,000 769,065
JPMorgan Chase & Company (5.150% to
       5-1-23, then 3 month LIBOR + 3.250%)
       05/01/2023 (Q) 585,000 557,213
JPMorgan Chase & Company (6.750% to
       02/01/2024, then 3 month
       LIBOR + 3.780%)
       02/01/2024 (Q) 1,245,000 1,312,853
JPMorgan Chase & Company (7.900% to
       4-30-18, then 3 month  
       LIBOR + 3.470%)
       04/30/2018 (Q) 755,000 819,553
Kimco Realty Corp.
       6.875%, 10/01/2019 755,000 897,086
Legg Mason, Inc.
       3.950%, 07/15/2024 660,000 666,143
Leucadia National Corp.
       5.500%, 10/18/2023 1,935,000 2,022,656
Liberty Mutual Group, Inc.
       4.250%, 06/15/2023 (S) 1,000,000 1,022,289
       7.800%, 03/15/2037 (S) 705,000 829,256
Liberty Property LP
       5.500%, 12/15/2016 800,000 867,534
Lincoln National Corp.
       6.250%, 02/15/2020 1,000,000 1,167,213
Lincoln National Corp. (6.050% to
       4-20-17, then 3 month
       LIBOR + 2.040%)
       04/20/2067 1,762,000 1,801,645
Lloyds Banking Group PLC (7.500% to
       06/27/2024, then 5 year U.S. Swap
       Rate + 4.760%)
       06/27/2024 (Q) 600,000 618,000
Loews Corp.
       2.625%, 05/15/2023 630,000 592,242
Macquarie Group, Ltd.
       3.000%, 12/03/2018 (S) 650,000 663,636
Manufacturers & Traders Trust Company
       (5.629% to 12/01/2016, then 3 month
       LIBOR + 6.400%)
       12/01/2021 220,000 228,250
Markel Corp.
       5.000%, 03/30/2043 1,270,000 1,300,404
       5.350%, 06/01/2021 800,000 894,567
MBIA Insurance Corp.
       11.494%, 01/15/2033 (S) 650,000 461,500
MetLife, Inc.
       6.400%, 12/15/2036 420,000 468,300
Mizuho Financial Group Cayman 3, Ltd.
       4.600%, 03/27/2024 (S) 680,000 707,346
Montpelier Re Holdings, Ltd.
       4.700%, 10/15/2022 1,080,000 1,119,914
Morgan Stanley
       3.750%, 02/25/2023 1,250,000 1,248,699
       4.100%, 05/22/2023 1,710,000 1,705,722
       4.350%, 09/08/2026 140,000 137,640
       5.500%, 01/26/2020 435,000 487,857
       5.550%, 04/27/2017 380,000 416,072
       5.950%, 12/28/2017 565,000 632,858
       6.625%, 04/01/2018 470,000 538,339
       7.300%, 05/13/2019 1,585,000 1,890,895
Morgan Stanley (5.450% to 07/15/2019,
       then 3 month LIBOR + 3.610%)
       07/15/2019 (Q) 710,000 704,675

The accompanying notes are an integral part of the financial statements. 11


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Active Bond Trust (continued)

Shares or
Principal
Amount       Value
CORPORATE BONDS (continued)
Financials (continued)
MPT Operating Partnership LP
       6.375%, 02/15/2022 $ 430,000 $ 459,025
       6.875%, 05/01/2021 325,000 347,750
NANA Development Corp.
       9.500%, 03/15/2019 (S) 330,000 316,800
National Retail Properties, Inc.
       3.300%, 04/15/2023 1,260,000 1,218,535
Nationstar Mortgage LLC
       7.875%, 10/01/2020 450,000 454,500
       9.625%, 05/01/2019 (L) 430,000 469,775
Nationwide Mutual Insurance Company
       (5.810% to 12/15/2014, then 3 month
       LIBOR + 2.290%)
       12/15/2024 (S) 1,130,000 1,137,063
Nippon Life Insurance Company (5.000%
       to 10-18-22, then 3 month
       LIBOR + 4.240%)
       10/18/2042 (S) 445,000 464,469
Ocwen Financial Corp.
       6.625%, 05/15/2019 (S) 485,000 468,025
Oil Casualty Insurance, Ltd.
       8.000%, 09/15/2034 (S) 1,127,000 1,277,477
Omega Healthcare Investors, Inc.
       4.500%, 01/15/2025 (S) 415,000 408,020
       4.950%, 04/01/2024 (S) 995,000 1,012,413
Oversea-Chinese Banking Corp., Ltd.
       (4.000% to 10/15/2019, then 5 year
       U.S. Swap Rate + 2.203%)
       10/15/2024 (S) 315,000 318,247
Pacific LifeCorp.
       6.000%, 02/10/2020 (S) 370,000 421,443
Piedmont Operating Partnership LP
       4.450%, 03/15/2024 500,000 509,690
Prudential Financial, Inc. (5.875% to
       9-1-22, then 3 month LIBOR + 4.175%)
       09/15/2042 890,000 943,400
Rabobank Nederland NV
       3.875%, 02/08/2022 1,345,000 1,417,124
Rabobank Nederland NV (11.000% to
       6-30-19, then 3 month
       LIBOR + 10.868%)
       06/30/2019 (Q)(S) 752,000 994,520
Realty Income Corp.
       5.375%, 09/15/2017 1,250,000 1,379,408
Sirius International Group, Ltd. (7.506%
       to 6-30-17, then 3 month
       LIBOR + 3.200%)
       06/30/2017 (Q)(S) 2,130,000 2,236,500
SL Green Realty Corp.
       7.750%, 03/15/2020 775,000 921,656
Societe Generale SA (8.250% to 11-29-18,
       then 5 Year U.S. Swap Rate + 6.394%)
       11/29/2018 (Q) 575,000 591,100
Stifel Financial Corp.
       4.250%, 07/18/2024 1,270,000 1,277,609
Synchrony Financial
       4.250%, 08/15/2024 560,000 560,232
Synovus Financial Corp.
       7.875%, 02/15/2019 260,000 291,200
Teachers Insurance & Annuity Association
       of America
       6.850%, 12/16/2039 (S) 745,000 959,786
The Bear Stearns Companies LLC
       7.250%, 02/01/2018 455,000 529,382
The Charles Schwab Corp. (7.000% to
       02/01/2022, then 3 month
       LIBOR + 4.820%)
       02/01/2022 (Q) 1,000,000 1,165,630
The Goldman Sachs Group, Inc.
       3.625%, 01/22/2023 1,200,000 1,188,983
       5.250%, 07/27/2021 1,635,000 1,812,942
       5.750%, 01/24/2022 160,000 182,098
       5.950%, 01/18/2018 725,000 811,754
       6.150%, 04/01/2018 1,000,000 1,127,737
The PNC Financial Services Group, Inc.
       4.454%, 11/24/2014 (L)(P)(Q) 400,000 400,000
The PNC Financial Services Group, Inc.
       (4.850% to 6-1-23, then 3 month
       LIBOR + 3.040%)
       06/01/2023 (L)(Q) 525,000 497,438
Transatlantic Holdings, Inc.
       5.750%, 12/14/2015 455,000 481,276
USB Realty Corp.
       1.380%, 01/15/2017 (P)(Q)(S) 310,000 286,363
USI, Inc.
       7.750%, 01/15/2021 (S) 490,000 487,550
Ventas Realty LP
       3.750%, 05/01/2024 250,000 245,956
       4.750%, 06/01/2021 685,000 745,928
Vornado Realty LP
       5.000%, 01/15/2022 1,250,000 1,365,013
Voya Financial, Inc. (5.650% to 5-15-23,
       then 3 month LIBOR + 3.580%)
       05/15/2053 460,000 462,300
W.R. Berkley Corp.
       6.150%, 08/15/2019 699,000 787,143
Walter Investment Management Corp.
       7.875%, 12/15/2021 (S) 600,000 591,000
Weingarten Realty Investors
       3.375%, 10/15/2022   1,050,000 1,040,577
Wells Fargo & Company
       3.450%, 02/13/2023 900,000 884,606
Wells Fargo & Company (5.900% to
       06/15/2024, then 3 month
       LIBOR + 3.110%)
       06/15/2024 (Q) 1,015,000 1,034,031
Wells Fargo & Company, Series K
       (7.980% to 3-15-18, then 3 month
       LIBOR + 3.770%)
       03/15/2018 (Q) 1,062,000 1,162,147
Wells Fargo Bank NA
       5.850%, 02/01/2037 400,000   491,403
Weyerhaeuser Company
       7.375%, 03/15/2032 865,000 1,146,559
Willis Group Holdings PLC
       5.750%, 03/15/2021 1,350,000 1,510,426
XL Group PLC, Series E (6.500% to
       04/15/2017, then 3 month
       LIBOR + 2.458%)  
       04/15/2017 (Q) 1,612,000 1,547,520
  146,900,757
Health care - 1.4%
Agilent Technologies, Inc.
       3.875%, 07/15/2023 670,000 670,999

The accompanying notes are an integral part of the financial statements. 12


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Active Bond Trust (continued)

Shares or
Principal
Amount       Value
CORPORATE BONDS (continued)
Health care (continued)
Alere, Inc.
       7.250%, 07/01/2018 $ 390,000 $ 408,525
Cigna Corp.
       4.500%, 03/15/2021 1,100,000   1,200,194
Community Health Systems, Inc.
       6.875%, 02/01/2022 (S) 170,000 177,225
Endo Finance LLC  
       7.250%, 01/15/2022 (S) 440,000 463,100
Grifols Worldwide Operations, Ltd.
       5.250%, 04/01/2022 (S) 475,000 469,063
HCA, Inc.  
       7.500%, 02/15/2022 480,000 540,000
Mallinckrodt International Finance SA
       5.750%, 08/01/2022 (S) 465,000 469,650
Medco Health Solutions, Inc.
       7.125%, 03/15/2018 400,000 465,780
Mylan, Inc.
       2.600%, 06/24/2018 670,000 676,365
       7.875%, 07/15/2020 (S) 795,000 862,551
Quest Diagnostics, Inc.
       2.700%, 04/01/2019 540,000 542,806
       4.250%, 04/01/2024 580,000 589,600
Salix Pharmaceuticals, Ltd.
       6.000%, 01/15/2021 (S) 350,000 378,875
Select Medical Corp.
       6.375%, 06/01/2021 440,000 440,000
Teva Pharmaceutical Finance
       Company LLC
       6.150%, 02/01/2036 1,000,000 1,202,371
UnitedHealth Group, Inc.
       5.800%, 03/15/2036 540,000 660,993
Valeant Pharmaceuticals International
       7.500%, 07/15/2021 (S) 325,000 347,750
WellCare Health Plans, Inc.
       5.750%, 11/15/2020 320,000 325,600
WellPoint, Inc.
       6.375%, 06/15/2037 1,000,000 1,231,482
12,122,929
Industrials - 3.9%
Aeropuertos Dominicanos Siglo XXI SA
       9.750%, 11/13/2019 (S) 450,000 436,500
Ahern Rentals, Inc.
       9.500%, 06/15/2018 (S) 280,000 298,900
Air Lease Corp.
       3.375%, 01/15/2019 (L) 635,000 642,938
       3.875%, 04/01/2021 340,000 343,400
       4.750%, 03/01/2020 855,000 906,300
       5.625%, 04/01/2017 275,000 296,656
Aircastle, Ltd.
       6.250%, 12/01/2019 305,000 321,013
       7.625%, 04/15/2020 205,000 229,088
American Airlines 2011-1 Class B Pass
       Through Trust
       7.000%, 01/31/2018 (S) 1,008,466 1,079,058
American Airlines 2013-2 Class A Pass
       Through Trust
       4.950%, 01/15/2023 556,941 597,320
American Airlines 2013-2 Class B Pass
       Through Trust
       5.600%, 07/15/2020 (S) 272,103 280,266
British Airways PLC 2013-1 Class A Pass
       Through Trust
       4.625%, 06/20/2024 (S) 1,035,155 1,092,088
British Airways PLC 2013-1 Class B Pass
       Through Trust
       5.625%, 06/20/2020 (S) 408,888 435,466
Casella Waste Systems, Inc.
       7.750%, 02/15/2019 495,000 496,238
Continental Airlines 1998-1 Class A Pass
       Through Trust
       6.648%, 09/15/2017 183,260 194,256
Continental Airlines 1999-1 Class A Pass
       Through Trust
       6.545%, 02/02/2019 246,863 273,722
Continental Airlines 2000-2 Class B Pass
       Through Trust
       8.307%, 04/02/2018 94,031 103,669
Continental Airlines 2007-1 Class A Pass
       Through Trust
       5.983%, 04/19/2022 577,283 640,784
Continental Airlines 2012-1 Class B Pass
       Through Trust
       6.250%, 04/11/2020 332,500 354,112
Delta Air Lines 2002-1 Class G-1 Pass
       Through Trust
       6.718%, 01/02/2023 788,865 911,139
Delta Air Lines 2007-1 Class A Pass
       Through Trust
       6.821%, 08/10/2022 930,981 1,084,593
Delta Air Lines 2010-1 Class A Pass
       Through Trust
       6.200%, 07/02/2018 259,113 287,226
Embraer Overseas, Ltd.
       5.696%, 09/16/2023 (S) 352,000 375,760
Empresa de Transporte de Pasajeros
       Metro SA
       4.750%, 02/04/2024 (S) 340,000 352,414
Florida East Coast Holdings Corp.
       6.750%, 05/01/2019 (S) 375,000 383,438
General Electric Company
       2.700%, 10/09/2022 1,100,000 1,069,039
Global Ship Lease, Inc.
       10.000%, 04/01/2019 (S) 200,000 208,500
Huntington Ingalls Industries, Inc.
       7.125%, 03/15/2021 360,000 387,900
International Lease Finance Corp.
       7.125%, 09/01/2018 (S) 350,000 393,750
JB Hunt Transport Services, Inc.
       3.850%, 03/15/2024 700,000 719,186
Masco Corp.
       7.125%, 03/15/2020 360,000 414,000
Navios Maritime Acquisition Corp.
       8.125%, 11/15/2021 (S) 335,000 323,275
Navios South American Logistics, Inc.
       7.250%, 05/01/2022 (S) 540,000 534,600
Northwest Airlines 2007-1 Class A Pass
       Through Trust
       7.027%, 11/01/2019 297,794 341,332
Odebrecht Finance, Ltd.
       7.125%, 06/26/2042 (S) 535,000 572,985
       7.500%, 09/14/2015 (Q)(S) 265,000 267,650
       8.250%, 04/25/2018 (S) BRL 850,000 313,400
Odebrecht Offshore Drilling Finance, Ltd.
       6.625%, 10/01/2022 (S) $ 195,220 201,077
Owens Corning
       4.200%, 12/15/2022 615,000 626,061

The accompanying notes are an integral part of the financial statements. 13


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Active Bond Trust (continued)

Shares or
Principal
Amount       Value
CORPORATE BONDS (continued)
Industrials (continued)
Ryder System, Inc.
       2.450%, 11/15/2018 $ 900,000 $ 908,924
Safway Group Holding LLC
       7.000%, 05/15/2018 (S) 250,000 254,375
SPL Logistics Escrow LLC
       8.875%, 08/01/2020 (S) 291,000 316,463
Stanley Black & Decker, Inc.  
       5.750%, 12/15/2053 (P) 650,000 703,625
Tenedora Nemak SA de CV
       5.500%, 02/28/2023 (S)   400,000 410,000
Textron Financial Corp. (6.000% to
       2-15-17, then 3 month
       LIBOR + 1.735%)
       02/15/2067 (S) 2,955,000 2,689,050
Textron, Inc.  
       7.250%, 10/01/2019 345,000 411,835
The Dun & Bradstreet Corp.
       4.375%, 12/01/2022 700,000 714,351
Trinity Industries, Inc.
       4.550%, 10/01/2024 530,000 529,814
Tutor Perini Corp.
       7.625%, 11/01/2018 650,000 672,750
Tyco Electronics Group SA
       4.875%, 01/15/2021 500,000 549,570
       6.550%, 10/01/2017 945,000 1,076,141
UAL 2009-1 Pass Through Trust
       10.400%, 11/01/2016 80,670 89,342
UAL 2009-2A Pass Through Trust
       9.750%, 01/15/2017 261,722 295,746
Union Pacific Corp.
       4.163%, 07/15/2022 1,137,000 1,235,620
United Airlines 2014-2 Class A Pass
       Through Trust
       3.750%, 09/03/2026 660,000 668,250
United Airlines 2014-2 Class B Pass
       Through Trust
       4.625%, 09/03/2022 375,000 373,125
United Rentals North America, Inc.
       5.750%, 11/15/2024 495,000 501,485
US Airways 2010-1 Class A Pass
       Through Trust
       6.250%, 04/22/2023 439,447 495,476
Waste Management, Inc.
       7.750%, 05/15/2032 625,000 890,959
32,576,000
Information technology - 0.5%
Altice Financing SA
       6.500%, 01/15/2022 (S) 230,000 235,750
Ancestry.com, Inc.
       11.000%, 12/15/2020 430,000 490,200
Ancestry.com, Inc., PIK
       9.625%, 10/15/2018 (S) 280,000 280,000
Blackboard, Inc.
       7.750%, 11/15/2019 (S) 235,000 232,650
Micron Technology, Inc.
       5.875%, 02/15/2022 (S) 595,000 618,800
Tyco Electronics Group SA
       2.375%, 12/17/2018 980,000 982,447
XLIT, Ltd.
       5.750%, 10/01/2021 1,000,000 1,157,036
Zebra Technologies Corp.
       7.250%, 10/15/2022 (S) 365,000 365,000
4,361,883
Materials - 2.2%
Alcoa, Inc.
       5.125%, 10/01/2024 780,000 781,232
       5.720%, 02/23/2019 560,000 607,470
Allegheny Technologies, Inc.
       9.375%, 06/01/2019 1,045,000 1,275,907
American Gilsonite Company
       11.500%, 09/01/2017 (S) 590,000 637,200
AngloGold Ashanti Holdings PLC
       8.500%, 07/30/2020 665,000 731,899
ArcelorMittal
       10.350%, 06/01/2019 365,000 445,300
Ardagh Finance Holdings SA, PIK
       8.625%, 06/15/2019 (S) 350,000 351,750
Braskem Finance, Ltd.
       7.000%, 05/07/2020 (S) 685,000 751,788
Cemex SAB de CV
       6.500%, 12/10/2019 (S) 600,000 619,500
CF Industries, Inc.
       7.125%, 05/01/2020 345,000 416,297
Commercial Metals Company
       7.350%, 08/15/2018 320,000 355,200
Eastman Chemical Company
       4.500%, 01/15/2021 1,000,000 1,070,237
Edgen Murray Corp.
       8.750%, 11/01/2020 (S) 293,000 322,300
Gerdau Trade, Inc.
       4.750%, 04/15/2023 (S) 310,000 296,050
Glencore Finance Canada, Ltd.
       4.250%, 10/25/2022 (S) 300,000 300,721
Glencore Funding LLC
       4.125%, 05/30/2023 (S) 590,000 584,079
Incitec Pivot Finance LLC
       6.000%, 12/10/2019 (S) 330,000 371,118
JMC Steel Group
       8.250%, 03/15/2018 (S) 200,000 202,000
Magnesita Finance, Ltd.
       8.625%, 04/29/2049 (Q)(S) 540,000 537,300
Methanex Corp.
       5.250%, 03/01/2022 400,000 439,740
MMC Norilsk Nickel OJSC
       5.550%, 10/28/2020 (S) 385,000 382,113
Rain CII Carbon LLC
       8.000%, 12/01/2018 (S) 415,000 425,375
       8.250%, 01/15/2021 (S) 275,000 286,000
SunCoke Energy, Inc.
       7.625%, 08/01/2019 124,000 130,820
Tekni-Plex, Inc.
       9.750%, 06/01/2019 (S) 312,000 339,300
The Dow Chemical Company
       3.000%, 11/15/2022 270,000 260,079
       4.125%, 11/15/2021 1,000,000 1,051,005
The Mosaic Company
       4.250%, 11/15/2023 1,300,000 1,353,409
Thompson Creek Metals Company, Inc.
       7.375%, 06/01/2018 550,000 528,000
Valspar Corp.
       4.200%, 01/15/2022 1,000,000 1,055,495
Vedanta Resources PLC
       7.125%, 05/31/2023 (S) 400,000 410,500

The accompanying notes are an integral part of the financial statements. 14


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Active Bond Trust (continued)

Shares or
Principal
Amount       Value
CORPORATE BONDS (continued)
Materials (continued)
W.R. Grace & Co-Conn
       5.125%, 10/01/2021 (S) $ 250,000 $ 254,375
       5.625%, 10/01/2024 (S) 95,000 97,613
Wise Metals Group LLC
       8.750%, 12/15/2018 (S) 460,000 491,050
18,162,222
Telecommunication services - 2.6%
AT&T, Inc.
       4.350%, 06/15/2045 285,000 261,958
       5.350%, 09/01/2040 580,000 615,030
CenturyLink, Inc.
       5.625%, 04/01/2020 190,000 195,985
       5.800%, 03/15/2022 630,000 645,750
       7.600%, 09/15/2039 1,405,000 1,387,438
Columbus International, Inc.
       7.375%, 03/30/2021 (S) 300,000 312,000
Comcel Trust
       6.875%, 02/06/2024 (S) 1,000,000 1,055,000
Deutsche Telekom International
       Finance BV
       8.750%, 06/15/2030 758,000 1,105,360
Digicel Group, Ltd.
       8.250%, 09/30/2020 (S) 630,000 648,963
GTP Acquisition Partners I LLC
       4.704%, 05/15/2018 (S) 2,000,000 1,982,064
Millicom International Cellular SA
       4.750%, 05/22/2020 (S) 545,000 519,113
       6.625%, 10/15/2021 (S) 450,000 466,875
Oi SA
       9.750%, 09/15/2016 (S) BRL 1,110,000 413,027
PAETEC Holding Corp.
       9.875%, 12/01/2018 $ 436,000 461,070
SBA Tower Trust
       2.933%, 12/15/2017 (S) 665,000 674,423
       3.598%, 04/15/2018 (S) 630,000 629,908
       5.101%, 04/17/2017 (S) 455,000 481,397
SoftBank Corp.
       4.500%, 04/15/2020 (S) 550,000 548,625
Sprint Capital Corp.
       6.875%, 11/15/2028 750,000 716,250
T-Mobile USA, Inc.
       6.125%, 01/15/2022 225,000 226,125
       6.250%, 04/01/2021 275,000 277,750
Telecom Italia Capital SA
       6.999%, 06/04/2018 480,000 540,000
       7.200%, 07/18/2036 430,000 460,100
Telefonica Emisiones SAU
       6.421%, 06/20/2016 905,000 983,492
Verizon Communications, Inc.
       3.450%, 03/15/2021 655,000 664,868
       5.012%, 08/21/2054 (S) 726,000 729,446
       5.150%, 09/15/2023 2,000,000 2,212,112
       6.550%, 09/15/2043 728,000 909,557
       6.900%, 04/15/2038 715,000 921,245
Wind Acquisition Finance SA
       7.375%, 04/23/2021 (S) 525,000 527,625
Windstream Corp.
       7.500%, 06/01/2022 600,000   631,500
22,204,056
Utilities - 2.3%
Arizona Public Service Company
       5.500%, 09/01/2035 1,118,000 1,326,854
Beaver Valley II Funding Corp.
       9.000%, 06/01/2017 193,000 204,587
BVPS II Funding Corp.
       8.890%, 06/01/2017 341,000 359,838
CenterPoint Energy Houston Electric LLC
       6.950%, 03/15/2033 535,000 739,181
CMS Energy Corp.
       5.050%, 03/15/2022 560,000 625,883
DPL, Inc.
       7.250%, 10/15/2021 585,000 604,013
Electricite de France SA (5.250% to
       1-29-23, then 10 Year U.S. Swap
       Rate + 3.709%)
       01/29/2023 (Q)(S) 745,000 757,106
Entergy Corp.
       4.700%, 01/15/2017 1,000,000 1,069,590
Integrys Energy Group, Inc. (6.110% to
       12-1-16, then 3 month
       LIBOR + 2.120%)
       12/01/2066 778,000 793,404
Israel Electric Corp., Ltd.
       5.625%, 06/21/2018 (S) 650,000 688,188
       6.875%, 06/21/2023 (S) 430,000 490,200
       7.250%, 01/15/2019 (S) 520,000 582,400
Michigan Consolidated Gas Company
       5.700%, 03/15/2033 736,000 893,014
NextEra Energy Capital Holdings, Inc.
       (6.650% to 6-15-17, then 3 month
       LIBOR + 2.125%)
       06/15/2067 310,000 317,750
NiSource Finance Corp.
       4.800%, 02/15/2044 1,260,000 1,281,901
       6.400%, 03/15/2018 672,000 767,119
NRG Energy, Inc.
       6.625%, 03/15/2023 190,000 196,175
       7.625%, 01/15/2018 520,000 572,000
       8.250%, 09/01/2020 425,000 455,281
NRG Yield Operating LLC
       5.375%, 08/15/2024 (S) 645,000 648,225
Oncor Electric Delivery Company LLC
       4.100%, 06/01/2022 750,000 801,607
PPL Capital Funding, Inc.
       3.400%, 06/01/2023 1,160,000 1,143,325
PPL Capital Funding, Inc. (6.700% to
       03/30/2017, then 3 month
       LIBOR + 2.665%)  
       03/30/2067 580,000 587,540
PSEG Power LLC  
       8.625%, 04/15/2031 736,000   1,057,514
Southern California Edison Company
       (6.250% to 02/01/2022, then 3 month
       LIBOR + 4.199%)
       02/01/2022 (Q) 385,000 423,115
TransAlta Corp.
       6.650%, 05/15/2018 1,157,000 1,312,814
W3A Funding Corp.
       8.090%, 01/02/2017 259,246 259,246
Wisconsin Energy Corp. (6.250% to
       05/15/2017, then 3 month
       LIBOR + 2.113%)
       05/15/2067 470,000 486,450
19,444,320
TOTAL CORPORATE BONDS (Cost $335,898,746) $ 360,595,851

The accompanying notes are an integral part of the financial statements. 15


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Active Bond Trust (continued)

Shares or
Principal
Amount       Value
CAPITAL PREFERRED SECURITIES - 1.5%  
Financials - 1.5%
Allfirst Preferred Capital Trust
       1.734%, 07/15/2029 (P) $ 1,025,000 $ 932,750
BAC Capital Trust XIV, Series G
       4.000%, 11/07/2014 (P)(Q) 995,000 796,000
Goldman Sachs Capital II  
       11/24/2014 (P)(Q) 1,050,000 798,525
HSBC Finance Capital Trust IX (5.911%    
       to 11/30/2015, then 3 month
       LIBOR + 1.926%)
       11/30/2035 1,350,000 1,388,813
ILFC E-Capital Trust II (6.25% to  
       12/21/2015, then 1.80% + Highest of
       3 month LIBOR, 10 year CMT and
       30 year CMT)
       12/21/2065 (S) 700,000 686,000
MetLife Capital Trust X (9.250% to
       4-8-33, then 3 month LIBOR + 5.540%)
       04/08/2038 (S) 650,000 937,625
Sovereign Capital Trust VI
       7.908%, 06/13/2036 450,000 479,035
State Street Capital Trust IV
       1.234%, 06/15/2037 (P) 1,060,000 903,650
SunTrust Preferred Capital I
       4.000%, 11/24/2014 (P)(Q) 425,000 344,250
The PNC Financial Services Group, Inc.
       (6.750% to 08/01/2021, then 3 month
       LIBOR + 3.678%)
       08/01/2021 (Q) 720,000 795,600
USB Capital IX
       3.500%, 11/24/2014 (P)(Q) 1,745,000 1,483,250
ZFS Finance USA Trust II (6.450% to
       6-15-16 then 3 month
       LIBOR + 2.000%)
       12/15/2065 (S) 1,280,000 1,369,600
ZFS Finance USA Trust V (6.500% to
       5-9-17, then 3 month LIBOR + 2.285%)
       05/09/2037 (S) 1,695,000 1,822,125
12,737,223
TOTAL CAPITAL PREFERRED
SECURITIES (Cost $11,948,408) $ 12,737,223
 
TERM LOANS (M) - 0.4%
Consumer discretionary - 0.0%
Marina District Finance Company, Inc.
       6.750%, 08/15/2018 148,875 148,503
Consumer staples - 0.1%
The Sun Products Corp.
       5.500%, 03/23/2020 588,077 553,773
Energy - 0.1%
Paragon Offshore Finance Company
       3.750%, 07/18/2021 245,000 230,913
Templar Energy LLC 8.500%, 11/25/2020 365,000 353,594
584,507
Financials - 0.0%
Walter Investment Management Corp.
       4.750%, 12/11/2020 289,591 278,128
Health care - 0.0%
CRC Health Corp.
       5.250%, 03/29/2021 99,500 98,920
       9.000%, 09/28/2021 215,000 214,194
313,114
Industrials - 0.1%
Delta Air Lines, Inc. 3.250%, 10/18/2018 392,008 382,487
WP CPP Holdings LLC
       4.750%, 12/27/2019 245,625 243,844
626,331
Materials - 0.0%
FMG Resources August 2006 Pty, Ltd.
       3.750%, 06/30/2019 292,178 285,848
Utilities - 0.1%
Exgen Texas Power LLC
       5.750%, 09/16/2021 410,000 407,694
La Frontera Generation LLC
       4.500%, 09/30/2020 257,120 253,745
661,439
TOTAL TERM LOANS (Cost $3,509,000) $ 3,451,643
 
MUNICIPAL BONDS - 0.3%
New Jersey State Turnpike Authority
       7.414%, 01/01/2040 1,885,000 2,700,715
TOTAL MUNICIPAL BONDS (Cost $2,068,957)       $ 2,700,715
           
COLLATERALIZED MORTGAGE
OBLIGATIONS - 21.4%
Commercial and residential - 16.6%
Adjustable Rate Mortgage Trust,
       Series 2005-4, Class 7A12
       0.735%, 08/25/2035 (P) 394,234 372,977
American Home Mortgage Assets Trust,
       Series 2006-6, Class XP IO
       2.252%, 12/25/2046 4,455,107 348,350
American Home
       Mortgage Investment Trust
       Series 2005-1, Class 1A1,
              0.375%, 06/25/2045 (P) 880,438 836,439
       Series 2004-4, Class 5A,
              2.331%, 02/25/2045 (P) 987,307 987,717
Americold 2010 LLC Trust
       Series 2010-ARTA, Class C,
              6.811%, 01/14/2029 (S) 1,350,000 1,563,538
       Series 2010-ARTA, Class D,
              7.443%, 01/14/2029 (S) 2,525,000 2,869,178
BAMLL Commercial
       Mortgage Securities Trust
       Series 2014-ICTS, Class D,
              2.054%, 06/15/2028 (P)(S) 140,000 140,000
       Series 2014-ICTS, Class E,
              3.104%, 06/15/2028 (P)(S) 185,000 184,768
Banc of America Commercial Mortgage
       Securities Trust, Series 2013-DSNY,
       Class E 2.754%, 09/15/2026 (P)(S) 565,000 567,393
Banc of America
       Commercial Mortgage Trust, Inc.
       Series 2005-5, Class XC IO,
              0.207%, 10/10/2045 (S) 200,730,823 208,359
       Series 2006-6, Class AJ,
              5.421%, 10/10/2045 500,000 514,416
       Series 2006-6, Class AM,
              5.390%, 10/10/2045 1,350,000 1,441,306
       Series 2007-2, Class A2,
              5.634%, 04/10/2049 (P) 274,252 274,130
       Series 2007-3, Class AJ,
              5.790%, 06/10/2049 (P) 500,000 516,455

The accompanying notes are an integral part of the financial statements. 16


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Active Bond Trust (continued)

Shares or  
Principal  
Amount       Value
COLLATERALIZED MORTGAGE  
OBLIGATIONS (continued)    
Commercial and residential (continued)    
Banc of America Commercial    
Mortgage Trust, Inc. (continued)  
       Series 2007-3, Class AM,  
              5.790%, 06/10/2049 (P) $ 1,000,000 $ 1,084,170
       Series 2007-3, Class AMF,  
              5.317%, 06/10/2049 500,000   538,390
       Series 2007-4, Class AM,    
              6.015%, 02/10/2051 (P) 610,000   671,759
       Series 2005-2, Class AJ,  
              4.953%, 07/10/2043 (P) 2,524,154   2,577,166
Bayview Commercial Asset Trust  
       Series 2005-1A, Class A2,  
              0.505%, 04/25/2035 (P)(S) 819,705   729,653
       Series 2006-2A, Class A2,  
              0.435%, 07/25/2036 (P)(S) 614,752   532,466
Bear Stearns Alt-A Trust  
       Series 2005-5, Class 1A4,  
              0.715%, 07/25/2035 (P) 794,716   717,852
       Series 2005-7, Class 11A1,  
              0.695%, 08/25/2035 (P) 1,008,324   943,972
Bear Stearns Asset  
       Backed Securities Trust  
       Series 2004-AC5, Class A1,  
              5.750%, 10/25/2034 (P) 709,830   728,826
       Series 2003-AC4, Class A,  
              5.500%, 09/25/2033 (P) 1,060,104   1,095,398
Bear Stearns Commercial Mortgage  
       Securities Trust, Series 2007-PWR16,  
       Class AJ 5.897%, 06/11/2040 (P) 500,000   507,588
Bear Stearns Commercial  
       Mortgage Securities, Inc.  
       Series 2004-PWR5, Class X1 IO,  
              0.887%, 07/11/2042 (S) 3,560,499   51,239
       Series 2004-T16, Class X1 IO,  
              0.764%, 02/13/2046 (S) 3,653,948   19,147
Bear Stearns Mortgage Funding Trust,  
       Series 2006-AR4, Class A1  
       0.365%, 12/25/2036 (P) 1,089,891   801,755
BHMS Mortgage Trust  
       Series 2014-ATLS, Class CFX,  
              4.846%, 07/05/2033 (P)(S) 500,000   494,939
       Series 2014-ATLS, Class DFL,  
              3.156%, 07/05/2033 (P)(S) 930,000   929,999
CD Mortgage Trust, Series 2006-CD3,  
       Class AJ 5.688%, 10/15/2048 300,000   287,923
CHL Mortgage Pass Through Trust,  
       Series 2004-HYB2, Class 4A  
       2.491%, 07/20/2034 (P) 2,055,045   2,081,339
Citigroup/Deutsche Bank  
       Commercial Mortgage Trust  
       Series 2007-CD4, Class AMFX,  
              5.366%, 12/11/2049 (P) 1,000,000   1,048,514
       Series 2005-CD1, Class C,  
              5.400%, 07/15/2044 (P) 515,000   529,392
Commercial Mortgage Pass  
       Through Certificates  
       Series 2006-GG7, Class AM,  
              6.014%, 07/10/2038 (P) 1,540,000   1,644,999
       Series 2007-GG11, Class AJ,  
              6.257%, 12/10/2049 (P) 620,000   646,615
       Series 2012-CR2, Class XA IO,  
              2.078%, 08/15/2045 13,637,848   1,397,975
       Series 2012-LC4, Class B,  
              4.934%, 12/10/2044 (P) 420,000   454,655
       Series 2012-LC4, Class C,  
              5.823%, 12/10/2044 (P) 860,000   951,442
       Series 2012-LC4, Class XA IO,  
              2.650%, 12/10/2044 (S) 6,045,668   740,975
       Series 2013-300P, Class D,  
              4.540%, 08/10/2030 (P)(S) 1,080,000   1,082,428
       Series 2013-300P, Class E,  
              4.540%, 08/10/2030 (P)(S) 700,000   664,269
       Series 2013-CR11, Class B,  
              5.332%, 10/10/2046 (P) 1,370,000   1,496,462
       Series 2013-CR13, Class C,  
              4.915%, 12/10/2023 (P) 675,000   698,520
       Series 2013-LC13, Class B,  
              5.009%, 08/10/2046 (P)(S) 735,000   792,753
       Series 2014-CR15, Class XA IO,  
              1.509%, 02/10/2047 9,230,948   674,312
       Series 2014-CR16, Class C,  
              5.070%, 04/10/2047 (P) 850,000   879,957
       Series 2014-FL4, Class D,  
              2.606%, 07/13/2031 (P)(S) 920,000   919,538
       Series 2014-PAT, Class D,  
              2.300%, 08/13/2027 (P)(S) 1,155,000   1,153,629
       Series 2014-TWC, Class D,  
              2.406%, 02/13/2032 (P)(S) 680,000   677,674
       Series 2014-UBS2, Class XA IO,  
              1.603%, 03/10/2047 5,232,461   476,777
Credit Suisse Commercial Mortgage Trust  
       Series 2007-C3, Class AM,  
              5.893%, 06/15/2039 (P) 500,000   527,334
       Series 2007-C4, Class A1,  
              6.097%, 09/15/2039 (P) 1,400,000   1,518,030
Credit Suisse First Boston Mortgage  
       Securities Corp., Series 2005-C1,  
       Class AX IO 0.498%, 02/15/2038 (S) 25,827,557   13,689
Deutsche Mortgage Securities, Inc.  
       Mortgage Loan Trust, Series 2004-4,  
       Class 2AR1 0.695%, 06/25/2034 (P) 819,872   770,743
DSLA Mortgage Loan Trust,  
       Series 2004-AR3, Class 2A2B  
       0.603%, 07/19/2044 (P) 1,360,566   1,247,427
Extended Stay America Trust  
       Series 2013-ESFL, Class DFL,  
              3.296%, 12/05/2031 (P)(S) 545,000   546,020
       Series 2013-ESH5, Class C5,  
              2.675%, 12/05/2031 (S) 850,000   844,998
FREMF Mortgage Trust  
       Series 2011-K10, Class B,  
              4.774%, 11/25/2049 (P)(S) 1,000,000   1,065,098
       Series 2011-K11, Class B,  
              4.570%, 12/25/2048 (P)(S) 875,000   921,043
GE Capital Commercial Mortgage Corp.,  
       Series 2005-C1, Class XC IO  
       0.604%, 06/10/2048 (S) 43,779,642   27,537
GE Commercial Mortgage Corp. Trust,  
       Series 2007-C1, Class AM  
       5.606%, 12/10/2049 (P) 1,000,000   1,048,426

The accompanying notes are an integral part of the financial statements. 17


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Active Bond Trust (continued)

Shares or
Principal
Amount       Value
COLLATERALIZED MORTGAGE
OBLIGATIONS (continued)  
Commercial and residential (continued)    
GMAC Mortgage Loan Trust,  
       Series 2004-AR2, Class 3A
       2.919%, 08/19/2034 (P) $ 7,652 $ 7,485
GS Mortgage Securities Corp. II
       Series 2013-GC10, Class C,
              4.285%, 02/10/2046 (P)(S) 859,800 864,436
       Series 2005-GG4, Class XC IO,
              0.881%, 07/10/2039 (S) 65,651,618 133,798
GS Mortgage Securities Trust,
       Series 2006-GG6, Class AJ
              5.726%, 04/10/2038 (P) 1,000,000 1,032,076
HarborView Mortgage Loan Trust
       Series 2005-11, Class X IO,
              2.606%, 08/19/2045 2,645,462 137,967
       Series 2005-9, Class 2A1C,
              0.604%, 06/20/2035 (P) 1,038,153 964,085
       Series 2005-8, Class 1X IO,  
              2.078%, 09/19/2035 2,599,514 157,200
       Series 2007-3, Class ES IO,
              0.349%, 05/19/2047 (P)(S) 25,888,888 275,069
       Series 2007-4, Class ES IO,
              0.349%, 07/19/2047 (P) 27,745,842 277,458
       Series 2007-6, Class ES IO,
              0.342%, 08/19/2037 (P)(S) 21,642,848 229,955
HILT Mortgage Trust, Series 2014-ORL,
       Class D 2.306%, 07/15/2029 (P)(S) 890,000 889,210
Hilton USA Trust
       Series 2013-HLF, Class EFL,
              3.906%, 11/05/2030 (P)(S) 732,000 733,842
       Series 2013-HLT, Class DFX,
              4.407%, 11/05/2030 (S) 592,000 603,635
       Series 2013-HLT, Class EFX,
              5.609%, 11/05/2030 (P)(S) 500,000 507,824
IndyMac Index Mortgage Loan Trust
       Series 2005-AR12, Class AX2 IO,
              2.194%, 07/25/2035 10,639,843 749,524
       Series 2005-AR18, Class 1X IO,
              2.054%, 10/25/2036 7,328,932 571,854
       Series 2005-AR18, Class 2X IO,
              1.697%, 10/25/2036 22,305,686 712,437
Irvine Core Office Trust, Series 2013-IRV,
       Class XA IO 1.211%, 05/15/2048 (S) 20,211,536 953,499
JPMBB Commercial Mortgage
       Securities Trust, Series 2014-C19,
       Class C 4.835%, 04/15/2047 (P) 1,000,000 1,021,976
JPMorgan Chase Commercial
       Mortgage Securities Corp.
       Series 2006-LDP8, Class AM,
              5.440%, 05/15/2045 2,292,000 2,455,789
       Series 2006-LDP8, Class X IO,
              0.723%, 05/15/2045 63,224,852 563,713
       Series 2007-CB19, Class AJ,
              5.892%, 02/12/2049 (P) 550,000 499,941
       Series 2011-C3A, Class XA IO,
              1.366%, 02/15/2046 (S) 23,619,625 1,051,475
       Series 2011-C4, Class XA IO,
              1.666%, 07/15/2046 (S) 33,780,217 1,566,828
JPMorgan Chase Commercial
       Mortgage Securities Trust
       Series 2007-LD12, Class AM,
              6.197%, 02/15/2051 (P) 1,985,000 2,186,261
       Series 2007-LDPX, Class AM,
              5.464%, 01/15/2049 (P) 2,710,000 2,834,202
       Series 2012-HSBC, Class XA IO,
              1.582%, 07/05/2032 (S) 13,400,000 1,287,740
       Series 2013-JWRZ, Class D,
              3.144%, 04/15/2030 (P)(S) 705,000 706,874
       Series 2014-FBLU, Class D,
              2.754%, 12/15/2028 (P)(S) 1,135,000 1,136,995
       Series 2014-FL5, Class C,
              2.252%, 07/15/2031 (P)(S) 1,535,000 1,535,661
       Series 2014-INN, Class F,
              4.154%, 06/15/2029 (P)(S) 750,000 748,505
LB-UBS Commercial Mortgage Trust
       Series 2005-C2, Class AJ,
              5.205%, 04/15/2030 (P) 1,000,000 1,017,859
       Series 2006-C4, Class AJ,
              6.049%, 06/15/2038 (P) 700,000 735,675
       Series 2007-C1, Class AJ,
              5.484%, 02/15/2040 500,000 516,632
       Series 2007-C7, Class AJ,
              6.456%, 09/15/2045 (P) 1,000,000 1,048,238
       Series 2005-C1, Class XCL IO,
              0.880%, 02/15/2040 (S) 15,223,512 46,356
MASTR Adjustable Rate Mortgages Trust
       Series 2004-11, Class M2,
              1.255%, 11/25/2034 (P) 840,000 814,618
       Series 2004-13, Class 2A1,
              2.643%, 04/21/2034 (P) 603,429 609,643
       Series 2004-8, Class 5A1,
              2.517%, 08/25/2034 (P) 1,600,262 1,594,592
MASTR Alternative Loans Trust,
       Series 2004-4, Class 8A1
              6.500%, 05/25/2034 698,337 725,892
Merrill Lynch Mortgage Investors Trust
       Series 2004-1, Class 2A1,
              2.148%, 12/25/2034 (P) 702,998 689,224
       Series 2005-A, Class A1,
              0.615%, 03/25/2030 (P) 77,568 76,466
Merrill Lynch Mortgage Trust
       Series 2008-C1, Class X IO,
              0.530%, 02/12/2051 (S) 33,945,533 407,380
       Series 2005-CIP1, Class XC IO,
              0.416%, 07/12/2038 (S) 161,772,517 259,160
       Series 2006-C2, Class X IO,
              0.536%, 08/12/2043 (S) 68,007,751 448,103
Merrill Lynch/Countrywide
       Commercial Mortgage Trust
       Series 2007-5, Class AM,
              5.419%, 08/12/2048 2,260,000 2,378,643
       Series 2007-6, Class AM,
              5.526%, 03/12/2051 (P) 1,950,000 2,029,205
Morgan Stanley Bank of America
       Merrill Lynch Trust
       Series 2012-C5, Class XA IO,
              2.021%, 08/15/2045 (S) 15,058,511 1,302,381
       Series 2012-C6, Class XA IO,
              2.302%, 11/15/2045 (S) 11,674,012 1,160,899
       Series 2013-C7, Class C,
              4.326%, 02/15/2046 (P) 515,000 514,974

The accompanying notes are an integral part of the financial statements. 18


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Active Bond Trust (continued)

Shares or
Principal      
Amount Value
COLLATERALIZED MORTGAGE
OBLIGATIONS (continued)
Commercial and residential (continued)  
Morgan Stanley Bank of America Merrill  
Lynch Trust (continued)  
       Series 2013-C7, Class XA IO,  
              1.861%, 02/15/2046 $ 8,519,576 $ 788,308
       Series 2014-C18, Class 300D,  
              5.279%, 08/15/2031 570,000 568,308
Morgan Stanley Capital I Trust
       Series 2007-IQ14, Class AM,
              5.869%, 04/15/2049 (P) 1,325,000 1,388,448
       Series 2011-C3, Class XA IO,
              1.410%, 07/15/2049 (S) 20,115,481 800,978
       Series 2012-C4, Class AS,
              3.773%, 03/15/2045 2,371,500 2,430,565
       Series 2014-150E, Class D,
              4.295%, 09/09/2024 (S) 1,535,000 1,555,931
       Series 2005-IQ9, Class X1 IO,
              1.296%, 07/15/2056 (S) 16,497,702 201,866
       Series 2005-T17, Class X1 IO,
              0.835%, 12/13/2041 (S) 31,813,632 78,930
MortgageIT Trust, Series 2005-2,
       Class 1A2 0.485%, 05/25/2035 (P) 709,455 662,653
Motel 6 Trust, Series 2012-MTL6,
       Class D 3.781%, 10/05/2025 (S) 2,660,000 2,662,410
Multi Security Asset Trust,
       Series 2005-RR4A, Class F
       5.880%, 11/28/2035 (P)(S) 580,000 567,130
Opteum Mortgage Acceptance Corp.,
       Series 2005-3, Class APT
       0.445%, 07/25/2035 (P) 817,538 801,750
Residential Accredit Loans, Inc.
       Series 2005-QO4, Class XIO IO,
              2.365%, 12/25/2045 5,424,682 632,716
       Series 2004-QS16, Class 1A1,
              5.500%, 12/25/2034 137,456 139,622
Sequoia Mortgage Trust, Series 2005-3,
       Class A1 0.354%, 05/20/2035 (P) 199,785 186,998
Springleaf Mortgage Loan Trust,
       Series 2012-3A, Class M1
       2.660%, 12/25/2059 (P)(S) 605,000 605,017
Structured Agency Credit Risk Debt
       Notes, Series 2013-DN2, Class M1
       1.605%, 11/25/2023 (P) 842,694 842,931
Structured Asset Securities Corp.,
       Series 1998-RF2, Class A
       6.799%, 07/15/2027 (P)(S) 136,446 136,212
TimberStar Trust, Series 2006-1A,
       Class A 5.668%, 10/15/2036 (S) 2,300,000 2,471,056
UBS Commercial Mortgage Trust
       Series 2012-C1, Class B,
              4.822%, 05/10/2045 510,000 546,004
       Series 2012-C1, Class C,
              5.719%, 05/10/2045 (P)(S) 385,000 422,297
UBS-Barclays Commercial
       Mortgage Trust, Series 2012-C2,
       Class XA IO 1.926%, 05/10/2063 (S) 15,586,968 1,284,740
VNDO Mortgage Trust,
       Series 2013-PENN, Class D
       4.079%, 12/13/2029 (P)(S) 959,000 965,769
Wachovia Bank
       Commercial Mortgage Trust
       Series 2005-C16, Class D,
              5.044%, 10/15/2041 (P) 1,000,000 1,004,952
       Series 2005-C16, Class E,
              5.153%, 10/15/2041 (P)(S) 2,500,000 2,512,580
       Series 2007-C30, Class AJ,
              5.413%, 12/15/2043 (P) 1,100,000 1,133,403
       Series 2007-C31, Class AJ,
              5.660%, 04/15/2047 (P) 900,000 929,669
       Series 2007-C31, Class AM,
              5.591%, 04/15/2047 (P) 1,315,000 1,428,972
       Series 2005-C17, Class XC IO,
              0.391%, 03/15/2042 (S) 27,108,313 26,241
       Series 2005-C19, Class AJ,
              4.793%, 05/15/2044 1,862,483 1,900,591
WaMu Mortgage Pass
       Through Certificates
       Series 2004-AR8, Class A2,
              0.555%, 06/25/2044 (P) 963,468 895,120
       Series 2005-AR13, Class X IO,
              1.453%, 10/25/2045 13,191,831 697,891
       Series 2005-AR19, Class A1A2,
              0.445%, 12/25/2045 (P) 957,824 903,224
       Series 2005-AR2, Class 2A1B,
              0.525%, 01/25/2045 (P) 1,545,057 1,434,715
       Series 2005-AR2, Class 2A3,
              0.505%, 01/25/2045 (P) 553,062 514,004
       Series 2005-AR8, Class 2AB2,
              0.575%, 07/25/2045 (P) 2,132,266 1,982,438
       Series 2005-AR8, Class 2AB3,
              0.515%, 07/25/2045 (P) 899,237 831,475
Washington Mutual Alternative Mortgage
       Pass Through Certificates,
       Series 2005-1, Class 6A1
       6.500%, 03/25/2035 404,852 413,138
Wells Fargo Commercial Mortgage Trust
       Series 2013-120B, Class C,
              2.800%, 03/18/2028 (P)(S) 1,385,000 1,345,802
       Series 2013-BTC, Class E,
              3.668%, 04/16/2035 (P)(S) 1,010,000 905,603
Wells Fargo Mortgage Backed
       Securities Trust, Series 2005-AR3,
       Class 1A2 2.619%, 03/25/2035 (P) 657,224 652,491
WF-RBS Commercial Mortgage Trust
       Series 2011-C3, Class XA IO,
              1.786%, 03/15/2044 (S) 24,893,510 1,448,429
       Series 2012-C10, Class XA IO,
              1.952%, 12/15/2045 (S) 7,783,618 786,675
       Series 2012-C9, Class XA IO,
              2.385%, 11/15/2045 (S) 16,720,226 1,930,735
       Series 2013-C15, Class B,
              4.633%, 08/15/2046 (P) 275,000 288,516
       Series 2013-C16, Class B,
              5.150%, 09/15/2046 (P) 470,000 511,143
140,071,538
U.S. government agency - 4.8%
Federal Home Loan Mortgage Corp.
       Series 290, Class IO IO,
              3.500%, 11/15/2032 3,842,330 743,922
       Series 3387, Class SB IO,
              6.266%, 11/15/2037 3,525,899 610,875
       Series 3632, Class AP,
              3.000%, 02/15/2040 3,382,473 3,482,631

The accompanying notes are an integral part of the financial statements. 19


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Active Bond Trust (continued)

Shares or
Principal
Amount       Value
COLLATERALIZED MORTGAGE
OBLIGATIONS (continued)
U.S. government agency (continued)
Federal Home Loan Mortgage Corp. (continued)      
       Series 3794, Class PI IO,    
              4.500%, 02/15/2038 $ 423,913 $ 47,330
       Series 3830, Class NI IO,
              4.500%, 01/15/2036 4,456,084 443,202
       Series 3943, Class DI IO,  
              4.000%, 11/15/2039 4,276,194 579,765
       Series 4030, Class BI IO,
              5.000%, 01/15/2042 3,223,470 698,277
       Series 4077, Class IK IO,
              5.000%, 07/15/2042 1,912,172 426,879
       Series K011, Class X1 IO,
              0.492%, 11/25/2020 (P) 55,726,256 936,090
       Series K014, Class X1 IO,
              1.422%, 04/25/2021 (P) 10,303,477 697,422
       Series K018, Class X1 IO,
              1.592%, 01/25/2022 (P) 4,923,408 403,670
       Series K021, Class A2,
              2.396%, 06/25/2022 1,000,000 976,115
       Series K021, Class X1 IO,
              1.641%, 06/25/2022 (P) 13,632,231 1,249,094
       Series K022, Class X1 IO,
              1.426%, 07/25/2022 (P) 8,759,472 696,702
       Series K026, Class X1 IO,
              1.174%, 11/25/2022 (P) 11,216,678 758,786
       Series K705, Class X1 IO,
              1.891%, 09/25/2018 (P) 15,649,102 945,487
       Series K707, Class X1 IO,
              1.687%, 12/25/2018 (P) 11,510,822 650,753
       Series K710, Class X1 IO,
              1.910%, 05/25/2019 (P) 3,813,548 265,820
       Series KAIV, Class X1 IO,
              1.366%, 06/25/2021 (P) 25,972,204 1,776,395
       Series KS01, Class X1 IO,
              1.785%, 01/25/2023 (P) 9,752,964 828,553
       Series T-41, Class 3A,
              6.675%, 07/25/2032 (P) 98,859 112,581
Federal National Mortgage Association
       Series 2002-W3, Class A5,
              7.500%, 11/25/2041 134,847 156,865
       Series 2001-50, Class BA,
              7.000%, 10/25/2041 22,633 25,737
       Series 2009-50, Class GI IO,
              5.000%, 05/25/2039 483,614 83,203
       Series 2009-78, Class IB IO,
              5.000%, 06/25/2039 602,596 92,670
       Series 2010-135, Class TS IO,
              5.866%, 12/25/2040 5,521,763 904,182
       Series 2010-15, Class KA,
              4.000%, 03/25/2039 1,240,347 1,278,500
       Series 2011-41, Class KA,
              4.000%, 01/25/2041 1,549,733 1,633,935
       Series 2011-86, Class NA,
              4.000%, 01/25/2041 2,638,657 2,731,274
       Series 2012-118, Class IB IO,
              3.500%, 11/25/2042 1,920,160 420,044
       Series 2012-137, Class WI IO,
              3.500%, 12/25/2032 3,846,353 702,109
       Series 2012-21, Class PA,
              2.000%, 03/25/2041 7,616,928 7,412,725
       Series 2012-38, Class PA,
              2.000%, 09/25/2041 2,003,212 1,903,358
       Series 2012-M5, Class X IO,
              0.739%, 02/25/2022 13,311,795 492,869
       Series 402, Class 3 IO,
              4.000%, 11/25/2039 474,981 96,933
       Series 402, Class 4 IO,
              4.000%, 10/25/2039 640,043 125,289
       Series 402, Class 7 IO,
              4.500%, 11/25/2039 537,187 111,548
       Series 407, Class 15 IO,
              5.000%, 01/25/2040 715,837 142,691
       Series 407, Class 21 IO,
              5.000%, 01/25/2039 358,274 57,646
       Series 407, Class 7 IO,
              5.000%, 03/25/2041 579,158 131,849
       Series 407, Class 8 IO,
              5.000%, 03/25/2041 221,889 49,082
       Series 407, Class C6 IO,
              5.500%, 01/25/2040 3,888,299 896,698
Government National
       Mortgage Association
       Series 2010-147, Class SA IO,
              6.017%, 05/20/2040 5,818,101 858,245
       Series 2010-85, Class SB IO,
              6.446%, 03/16/2040 4,924,609 792,386
       Series 2012-114, Class IO IO,
              1.031%, 01/16/2053 2,859,902 246,120
       Series 2012-120, Class IO,
              0.989%, 02/16/2053 15,096,901 1,166,477
       Series 2012-70, Class IO,
              0.967%, 08/16/2052 12,451,039 777,891
40,620,675
TOTAL COLLATERALIZED MORTGAGE
OBLIGATIONS (Cost $172,053,107) $ 180,692,213
 
ASSET BACKED SECURITIES - 7.8%
ABCLO 2007-1 Ltd., Series 2007-1A,
       Class C 2.084%, 04/15/2021 (P)(S) 700,000 689,392
ACG Trust III, Series 2005-3A, Class C1
       3.405%, 12/25/2035 (P)(S) 387,580 361,419
Aegis Asset Backed Securities Trust
       Series 2004-3, Class A1,
              0.875%, 09/25/2034 (P) 349,945 343,699
       Series 2005-4, Class M1,
              0.605%, 10/25/2035 (P) 1,015,000 908,748
Aircraft Lease Securitisation, Ltd.,
       Series 2007-1A, Class G3
              0.416%, 05/10/2032 (P)(S) 637,348 624,601
Ally Auto Receivables Trust,
       Series 2014-2, Class A4
       1.840%, 01/15/2020 1,115,000 1,114,922
Ally Master Owner Trust, Series 2012-4,
       Class A 1.720%, 07/15/2019 350,000 351,104
American Express Credit Account
       Master Trust, Series 2014-1, Class A4
       1.490%, 04/15/2020 1,135,000 1,134,992
Ameriquest Mortgage Securities, Inc.
       Series 2005-R10, Class M1,
              0.565%, 01/25/2036 (P) 900,000 820,094
       Series 2005-R3, Class M2,
              0.625%, 05/25/2035 (P) 730,000 688,415

The accompanying notes are an integral part of the financial statements. 20


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Active Bond Trust (continued)

Shares or
Principal
Amount       Value
ASSET BACKED SECURITIES (continued)
Amresco Residential Securities Mortgage  
       Loan Trust, Series 1998-1, Class A6
       6.510%, 08/25/2027 $ 3,667 $ 3,939
Apidos Cinco CDO, Ltd., Series 2007-CA,  
       Class D 4.483%, 05/14/2020 (P)(S) 500,000 494,020
Apidos Quattro CDO, Series 2006-QA,
       Class E 3.834%, 01/20/2019 (P)(S) 1,000,000 994,606
Applebee’s/IHOP Funding LLC,
       Series 2014-1, Class A2
       4.277%, 09/05/2044 (S) 1,515,000 1,500,817
Argent Securities, Inc.
       Series 2003-W10, Class M1,
              1.235%, 01/25/2034 (P) 376,692 363,195
       Series 2004-W6, Class M1,
              0.980%, 05/25/2034 (P) 379,921 369,734
ARL First LLC, Series 2012-1A, Class A2
       3.810%, 12/15/2042 (S) 900,000 902,871
Asset Backed Funding Certificates,
       Series 2005-HE1, Class M1
       0.785%, 03/25/2035 (P) 563,808 539,178
Babson Mid-Market CLO, Inc.,
       Series 2007-2A, Class E
       3.884%, 04/15/2021 (P) 500,000 489,786
Battalion Clo, Ltd., Series 2007-1A,
       Class D 2.384%, 07/14/2022 (P)(S) 400,000 388,681
Bravo Mortgage Asset Trust,
       Series 2006-1A, Class A2
       0.395%, 07/25/2036 (P)(S) 848,348 793,567
Business Loan Express SBA Loan Trust,
       Series 2005-1A, Class A
       0.455%, 06/27/2033 (P)(S) 765,639 674,000
CarMax Auto Owner Trust, Series 2014-3,
       Class A3 1.160%, 06/17/2019 995,000 992,964
Centex Home Equity
       Series 2004-D, Class AF4,
             4.680%, 06/25/2032 (P) 464,414 477,964
       Series 2005-A, Class M4,
             0.955%, 01/25/2035 (P) 204,023 159,848
Chase Issuance Trust, Series 2014-A6,
       Class A 1.260%, 07/15/2019 835,000 831,958
Chrysler Capital Auto Receivables Trust,
       Series 2014-BA, Class A4
       1.760%, 12/16/2019 (S) 285,000 284,922
Citibank Credit Card Issuance Trust
       Series 2007-A8, Class A8,
              5.650%, 09/20/2019 565,000 632,488
       Series 2014-A8, Class A8,
              1.730%, 04/09/2020 1,425,000 1,424,846
Citicorp Residential Mortgage
       Securities, Inc., Series 2007-2, Class A6
       5.696%, 06/25/2037 (P) 359,714 371,710
CKE Restaurant Holdings, Inc.,
       Series 2013-1A, Class A2
       4.474%, 03/20/2043 (S) 1,901,238 1,919,102
Conseco Financial Corp., Series 1996-10,
       Class M1 7.240%, 11/15/2028 (P) 778,409 832,548
ContiMortgage Home Equity Loan Trust,
       Series 1995-2, Class A5
       8.100%, 08/15/2025 9,829 9,505
Countrywide Asset-Backed Certificates,
       Series 2004-10, Class AF5B
       5.382%, 02/25/2035 (P) 662,841 676,820
Credit Suisse Mortgage Trust
       Series 2006-CF2, Class M1,
              0.625%, 05/25/2036 (P)(S) 1,225,000 1,181,795
       Series 2014-ICE, Class D,
              2.500%, 04/15/2027 (P)(S) 685,000 686,087
Credit-Based Asset Servicing
       and Securitization LLC
       Series 2005-CB4, Class M1,
              0.575%, 07/25/2035 (P) 390,000 374,810
       Series 2006-MH1, Class B1,
              5.484%, 10/25/2036 (P)(S) 2,560,000 1,818,808
Cronos Containers Program, Ltd.,
       Series 2013-1A, Class A
       3.080%, 04/18/2028 (S) 1,545,000 1,534,270
Dominos Pizza Master Issuer LLC,
       Series 2012-1A, Class A2
       5.216%, 01/25/2042 (S) 1,449,375 1,530,968
Duane Street CLO III, Ltd.,
       Series 2006-3A, Class D
       1.734%, 01/11/2021 (P)(S) 600,000 587,816
Emerson Place Clo Ltd., Series 2006-1A,
       Class C 1.004%, 01/15/2019 (P)(S) 600,000 558,331
Encore Credit Receivables Trust,
       Series 2005-2, Class M2
       0.845%, 11/25/2035 (P) 795,000 775,034
Equity One ABS, Inc.
       Series 2004-1, Class M2,
              5.115%, 04/25/2034 (P) 210,286 197,082
       Series 2004-1, Class M3,
              5.260%, 04/25/2034 (P) 303,746 176,672
Fairway Loan Funding Company,
       Series 2006-1A, Class B2L
       4.033%, 10/17/2018 (P)(S) 600,000 603,053
Foothill CLO, Ltd., Series 2007-1A,
       Class D 1.685%, 02/22/2021 (P)(S) 500,000 482,898
Ford Credit Auto Owner Trust,
       Series 2014-1, Class B
       2.410%, 11/15/2025 (S) 720,000 718,331
Ford Credit Floorplan Master Owner Trust
       Series 2012-5, Class A,
              1.490%, 09/15/2019 675,000 671,823
       Series 2014-4, Class A1,
              1.400%, 08/15/2019 1,455,000 1,447,550
FRS I LLC, Series 2013-1A, Class B
       3.960%, 04/15/2043 (S) 897,117 903,339
Galaxy VIII CLO Ltd., Series 2007-8A,
       Class D 1.534%, 04/25/2019 (P)(S) 700,000 684,954
GE Equipment Midticket LLC,
       Series 2014-1, Class A4
       1.590%, 08/22/2023 320,000 319,500
Golden Knight CDO, Ltd.,
       Series 2007-2A, Class D
       1.634%, 04/15/2019 (P)(S) 600,000 577,372
GSAA Home Equity Trust,
       Series 2005-11, Class 3A1
       0.425%, 10/25/2035 (P) 970,341 913,091
GSAA Trust, Series 2005-10, Class M3
       0.705%, 06/25/2035 (P) 1,045,000 992,671
GSRPM Mortgage Loan Trust,
       Series 2006-1, Class A1
       0.455%, 03/25/2035 (P)(S) 1,333,600 1,296,398
Harch CLO III, Ltd., Series 2007-1A,
       Class D 1.984%, 04/17/2020 (P)(S) 700,000 677,663

The accompanying notes are an integral part of the financial statements. 21


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Active Bond Trust (continued)

Shares or
Principal
Amount        Value
ASSET BACKED SECURITIES (continued)  
Hewett’s Island Clo V, Ltd.,    
       Series 2006-5A, Class E
       3.834%, 12/05/2018 (P)(S) $ 426,971 $ 421,805
Home Equity Asset Trust, Series 2005-1,
       Class M4 1.175%, 05/25/2035 (P) 440,000 423,748
Home Equity Mortgage Loan Asset-
       Backed Trust, Series 2005-C,
       Class AII3 0.525%, 10/25/2035 (P) 670,000 642,608
Honda Auto Receivables Owner Trust,
       Series 2014-3, Class A4
       1.310%, 10/15/2020 795,000 788,844
John Deere Owner Trust, Series 2014-B,
       Class A4 1.500%, 06/15/2021 850,000 846,593
LCM V Ltd., Series 5A, Class D
       0.903%, 03/21/2019 (P)(S) 1,000,000 975,084
Long Beach Mortgage Loan Trust,
       Series 2004-1, Class M3
       1.205%, 02/25/2034 (P) 132,603 123,613
Loomis Sayles CLO I, Ltd.,  
       Series 2006-1A, Class D
       1.835%, 10/26/2020 (P)(S) 1,100,000 1,099,350
Merrill Lynch Mortgage Investors, Inc.,
       Series 2005-WMC1, Class M1
       0.905%, 09/25/2035 (P) 465,176 437,817
MVW Owner Trust, Series 2014-1A,
       Class A 2.250%, 09/20/2031 (S) 245,000 244,931
Nautique Funding Ltd., Series 2006-1A,
       Class D 4.234%, 04/15/2020 (P)(S) 500,000 495,512
New Century Home Equity Loan Trust,
       Series 2005-1, Class M1
       0.830%, 03/25/2035 (P) 1,245,000 1,175,407
Octagon Investment Partners XI Ltd.,
       Series 2007-1A, Class B
       0.985%, 08/25/2021 (P)(S) 500,000 480,726
Option One Mortgage Loan Trust,
       Series 2004-1, Class M1
       1.055%, 01/25/2034 (P) 494,499 462,494
Porsche Innovative Lease Owner Trust,
       Series 2014-1, Class A4
       1.260%, 09/21/2020 (S) 670,000 669,977
RAMP Trust
       Series 2004-RS9, Class AI-4,
              4.767%, 10/25/2032 (P) 31,734 33,094
       Series 2004-RZ3, Class AI-4,
              4.572%, 05/25/2033 (P) 37,833 37,449
       Series 2005-RS3, Class M1,
              0.575%, 03/25/2035 (P) 555,000 524,894
Renaissance Home Equity Loan Trust,
       Series 2005-2, Class AF4
       4.934%, 08/25/2035 (P) 660,000 641,498
Saratoga CLO I Ltd., Series 2006-1A,
       Class C 1.714%, 12/15/2019 (P)(S) 500,000 477,656
Sierra Timeshare Receivables
       Funding LLC, Series 2014-2A, Class A
       2.050%, 06/20/2031 (S) 1,042,876 1,036,402
Sonic Capital LLC, Series 2011-1A,
       Class A2 5.438%, 05/20/2041 (S) 619,135 655,206
Soundview Home Loan Trust
       Series 2005-CTX1, Class M2,
              0.595%, 11/25/2035 (P) 615,000 575,051
       Series 2006-OPT2, Class A3,
              0.335%, 05/25/2036 (P) 433,484 402,608
Specialty Underwriting & Residential
       Finance Trust, Series 2006-BC1,
       Class A2D 0.455%, 12/25/2036 (P) 1,760,000 1,695,903
TAL Advantage V LLC, Series 2014-1A,
       Class A 3.510%, 02/22/2039 (S) 1,177,084 1,188,675
Volkswagen Credit Auto Master Trust,
       Series 2014-1A, Class A2
       1.400%, 07/22/2019 (S) 675,000 672,223
Westgate Resorts LLC
       Series 2012-2A, Class A,
              3.000%, 01/20/2025 (S) 19,178 19,328
       Series 2012-2A, Class B,
              4.500%, 01/20/2025 (S) 1,190,347 1,207,831
       Series 2012-3A, Class B,
              4.500%, 03/20/2025 (S) 715,518 726,698
       Series 2013-1A, Class B,
              3.750%, 08/20/2025 (S) 325,590 328,020
       Series 2014-1A, Class A,
              2.150%, 12/20/2026 (S) 1,450,000 1,444,403
       Series 2014-1A, Class B,
              3.250%, 12/20/2026 (S) 965,000 963,755
       Series 2014-AA, Class A,
              6.250%, 10/20/2026 (S) 558,141 558,141
World Omni Automobile Lease
       Securitization Trust, Series 2014-A,
       Class A4 1.370%, 01/15/2020 265,000 264,736
TOTAL ASSET BACKED SECURITIES (Cost $65,378,019) $ 65,618,851
       
PREFERRED SECURITIES - 0.7%
Consumer staples - 0.1%
Ocean Spray Cranberries, Inc.,
       Series A, 6.250% (S) 6,466 $ 588,406
Financials - 0.4%
Ally Financial, Inc., 7.000% (S) 819 819,768
Discover Financial Services, 6.500% 13,900 350,419
FNB Corp. (7.250% to 02/15/2024, then
       3 month LIBOR + 4.600%) (L) 12,950 355,348
GMAC Capital Trust I (8.125% to
       02/15/2016, then
       3 month LIBOR + 5.785%) 37,900 1,008,519
Regions Financial Corp., 6.375% 20,756 508,314
The Goldman Sachs Group, Inc., 5.500% 17,925 425,719
Wells Fargo & Company,
       Series L, 7.500% 600 360,753
Weyerhaeuser Company, 6.375% 3,400 183,702
4,012,542
Industrials - 0.1%
Glasstech, Inc., Series A, 12.750% 1 602
United Technologies Corp., 7.500% 7,436 437,906
438,508
Utilities - 0.1%
Dominion Resources, Inc., 6.375% 14,532 725,147
Exelon Corp., 6.500% 6,627 336,652
1,061,799
TOTAL PREFERRED SECURITIES (Cost $6,047,331) $ 6,101,255
         
SECURITIES LENDING COLLATERAL - 0.4%
John Hancock Collateral
       Investment Trust, 0.1178% (W)(Y) 295,816 2,960,261
TOTAL SECURITIES LENDING
COLLATERAL (Cost $2,960,260) $ 2,960,261

The accompanying notes are an integral part of the financial statements. 22


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Active Bond Trust (continued)

Shares or
Principal
Amount       Value
SHORT-TERM INVESTMENTS - 1.9%
Money market funds - 1.2%
State Street Institutional U.S. Government
       Money Market Fund, 0.0000% (Y) 10,219,811 10,219,811
Repurchase agreement - 0.7%
Repurchase Agreement with State
       Street Corp. dated 09/30/2014 at
       0.000% to be repurchased at $1,351,000
       on 10/01/2014, collateralized by
       $1,370,000 Federal Home Loan
       Mortgage Corp., 1.680% due  
       11/19/2018 (valued at $1,381,988,
       including interest) $ 1,351,000 $ 1,351,000
Barclays Tri-Party Repurchase Agreement
       dated 09/30/2014 at 0.000% to be
       repurchased at $4,789,000 on
       10/01/2014, collateralized by
       $2,350,200 Treasury Inflation Index
       Bonds, 3.875% due 04/15/2029 (valued
       at $4,884,844, including interest) 4,789,000 4,789,000
6,140,000
TOTAL SHORT-TERM INVESTMENTS (Cost $16,359,811)     $ 16,359,811
Total Investments (Active Bond Trust)
       (Cost $814,276,417) - 101.0% $ 851,983,563
Other assets and liabilities, net - (1.0%) (8,673,749 )
TOTAL NET ASSETS - 100.0% $ 843,309,814
             
All Cap Core Trust
 
  Shares or
Principal
Amount Value
COMMON STOCKS - 99.0%
Consumer discretionary - 11.3%
Auto components - 0.5%
Lear Corp. 21,900 $ 1,892,379
Diversified consumer services - 0.1%
Strayer Education, Inc. (I) 5,400 323,352
Hotels, restaurants and leisure - 2.6%
Chipotle Mexican Grill, Inc. (I) 7,200 4,799,448
Marriott International, Inc., Class A 65,300 4,564,470
9,363,918
Household durables - 1.0%
Harman International Industries, Inc. 34,700 3,401,987
Internet and catalog retail - 1.5%
Expedia, Inc. 52,600 4,608,812
Nutrisystem, Inc. 47,100 723,927
5,332,739
Media - 2.4%
Cablevision Systems Corp., Class A 205,600 3,600,056
DIRECTV (I) 13,100 1,133,412
The Walt Disney Company 17,900 1,593,637
Thomson Reuters Corp. 60,400 2,199,164
Time Warner Cable, Inc. 800 114,792
8,641,061
Specialty retail - 1.8%
AutoZone, Inc. (I) 5,300 2,701,198
Murphy USA, Inc. (I) 4,300 228,158
O’Reilly Automotive, Inc. (I) 14,900 2,240,364
The Cato Corp., Class A 7,400 255,004
The Gap, Inc. 18,300 762,927
6,187,651
Textiles, apparel and luxury goods - 1.4%
Hanesbrands, Inc. 22,800 2,449,632
Skechers U.S.A., Inc., Class A (I) 46,500 2,478,915
4,928,547
40,071,634
Consumer staples - 6.8%
Beverages - 0.9%
Dr. Pepper Snapple Group, Inc. 48,100 3,093,311
Food and staples retailing - 0.9%
Costco Wholesale Corp. 600 75,192
CVS Health Corp. 40,200 3,199,518
3,274,710
Food products - 4.2%
Archer-Daniels-Midland Company 37,600 1,921,360
Pilgrim’s Pride Corp. (I) 123,300 3,768,048
Sanderson Farms, Inc. (L) 49,900 4,388,705
Tyson Foods, Inc., Class A 121,400 4,779,518
14,857,631
Household products - 0.8%
Kimberly-Clark Corp. 26,400 2,839,848
24,065,500
Energy - 7.9%
Energy equipment and services - 2.8%
Baker Hughes, Inc. 72,300 4,703,838
Cameron International Corp. (I) 6,000 398,280
Helmerich & Payne, Inc. 500 48,935
Nabors Industries, Ltd. 175,100 3,985,276
Pioneer Energy Services Corp. (I) 15,200 213,104
RPC, Inc. 18,500 406,260
9,755,693
Oil, gas and consumable fuels - 5.1%
ConocoPhillips 71,900 5,501,788
EOG Resources, Inc. 9,600 950,592
Exxon Mobil Corp. 24,100 2,266,605
Hess Corp. 32,800 3,093,696
REX American Resources Corp. (I) 8,600 626,768
SM Energy Company 13,500 1,053,000
Whiting Petroleum Corp. (I) 58,800 4,559,940
18,052,389
27,808,082
Financials - 17.4%
Banks - 4.9%
Associated Banc-Corp. 26,300 458,146
Banc of California, Inc. (L) 3,900 45,357
BOK Financial Corp. 4,000 265,920
City National Corp. 13,600 1,029,112
Comerica, Inc. 87,500 4,362,750
First Citizens BancShares, Inc., Class A (L) 4,100 888,183
Frost Bankers, Inc. 15,800 1,208,858
JPMorgan Chase & Company 114,600 6,903,504
MidSouth Bancorp, Inc. 3,800 71,060
OFG Bancorp (L) 25,700 384,986
Simmons First National Corp., Class A 3,600 138,672

The accompanying notes are an integral part of the financial statements. 23


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

All Cap Core Trust (continued)

Shares or
Principal
      Amount       Value
COMMON STOCKS (continued)  
Banks (continued)  
Sterling Bancorp 8,600 $ 109,994
Wintrust Financial Corp. 35,600 1,590,252
  17,456,794
Capital markets - 3.6%
Ameriprise Financial, Inc. 11,100 1,369,518
Arlington Asset Investment Corp., Class A (L) 24,200 614,922
BlackRock, Inc. 6,400 2,101,248
Invesco, Ltd. 83,200 3,284,736
Lazard, Ltd., Class A 85,000 4,309,500
Piper Jaffray Companies (I) 4,500 235,080
RCS Capital Corp., Class A (I) 43,300 975,116
12,890,120
Consumer finance - 1.3%
Capital One Financial Corp. 56,200 4,587,044
Diversified financial services - 0.7%  
Voya Financial, Inc. 67,200 2,627,520
Insurance - 4.0%
Alleghany Corp. (I) 9,200 3,846,980
American Financial Group, Inc. 11,000 636,790
Aspen Insurance Holdings, Ltd. 34,500 1,475,565
Lincoln National Corp. 29,900 1,602,042
PartnerRe, Ltd. 17,700 1,945,053
Principal Financial Group, Inc. 74,200 3,893,274
The Progressive Corp. 23,000 581,440
13,981,144
Real estate investment trusts - 2.3%
AG Mortgage Investment Trust, Inc. 42,200 751,160
Annaly Capital Management, Inc. 408,700 4,364,916
Apollo Residential Mortgage, Inc. 13,500 208,305
Capstead Mortgage Corp. 35,600 435,744
Chimera Investment Corp. 118,000 358,720
Potlatch Corp. 28,600 1,150,006
Western Asset Mortgage Capital Corp. 48,700 719,786
7,988,637
Real estate management and development - 0.6%
Jones Lang LaSalle, Inc. 15,700 1,983,538
61,514,797
Health care - 15.5%
Biotechnology - 3.7%
Alexion Pharmaceuticals, Inc. (I) 9,800 1,625,036
Amgen, Inc. 1,600 224,736
Gilead Sciences, Inc. (I) 66,600 7,089,570
PDL BioPharma, Inc. (L) 525,400 3,924,738
12,864,080
Health care equipment and supplies - 0.2%
Edwards Lifesciences Corp. (I) 7,700 786,555
Health care providers and services - 5.3%
Aetna, Inc. 700 56,700
Health Net, Inc. (I) 97,100 4,477,281
McKesson Corp. 26,400 5,139,288
Universal Health Services, Inc., Class B 40,500 4,232,250
WellPoint, Inc. 40,800 4,880,496
18,786,015
Life sciences tools and services - 1.2%
Illumina, Inc. (I) 22,400 3,671,808
PAREXEL International Corp. (I) 900 56,781
Quintiles Transnational Holdings, Inc. (I) 9,500   529,910
4,258,499
Pharmaceuticals - 5.1%
AbbVie, Inc. 29,700 1,715,472
Akorn, Inc. (I) 13,000 471,510
Allergan, Inc. 31,700 5,648,623
Hospira, Inc. (I) 21,300 1,108,239
Johnson & Johnson 86,400 9,209,376
18,153,220
54,848,369
Industrials - 10.3%
Aerospace and defense - 6.2%
General Dynamics Corp. 39,400 5,007,346
Huntington Ingalls Industries, Inc. 43,200 4,501,872
Lockheed Martin Corp. 29,000 5,300,620
Northrop Grumman Corp. 37,000 4,875,120
Spirit Aerosystems Holdings, Inc., Class A (I) 27,000 1,027,620
The Boeing Company 9,600 1,222,848
21,935,426
Airlines - 2.2%
Delta Air Lines, Inc. 76,100 2,751,015
Hawaiian Holdings, Inc. (I)(L) 18,100 243,445
Southwest Airlines Company 140,600 4,748,062
7,742,522
Commercial services and supplies - 0.1%
Kimball International, Inc., Class B 17,500 263,375
Construction and engineering - 0.1%
Argan, Inc. 15,400 514,052
Machinery - 0.6%
Blount International, Inc. (I) 6,800 102,884
IDEX Corp. 19,000 1,375,030
Illinois Tool Works, Inc. 6,600 557,172
2,035,086
Marine - 0.4%
Kirby Corp. (I) 11,600 1,367,060
Professional services - 0.6%
Heidrick & Struggles International, Inc. 2,100 43,134
ManpowerGroup, Inc. 32,300 2,264,230
2,307,364
Road and rail - 0.1%
Landstar System, Inc. 4,200 303,198
36,468,083
Information technology - 20.9%
Electronic equipment, instruments and components - 0.1%
Sanmina Corp. (I) 23,600 492,296
Internet software and services - 3.1%
Akamai Technologies, Inc. (I) 15,000 897,000
Facebook, Inc., Class A (I) 89,300 7,058,272
LogMeIn, Inc. (I) 45,300 2,086,971
WebMD Health Corp. (I)(L) 20,100 840,381
10,882,624
IT services - 2.4%
Broadridge Financial Solutions, Inc. 55,600 2,314,628
Computer Sciences Corp. 71,100 4,347,765
DST Systems, Inc. 7,400 621,008
Fiserv, Inc. (I) 2,800 180,978

The accompanying notes are an integral part of the financial statements. 24


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

All Cap Core Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)      
IT services (continued)      
Forrester Research, Inc. 2,100 $ 77,406  
Gartner, Inc. (I) 11,600   852,252  
  8,394,037  
Semiconductors and semiconductor equipment - 3.6%        
Amkor Technology, Inc. (I) 15,200   127,832  
Cirrus Logic, Inc. (I) 8,100   168,885  
Intel Corp. 62,900   2,190,178  
Micron Technology, Inc. (I) 158,400   5,426,784  
Skyworks Solutions, Inc. 80,900   4,696,245  
  12,609,924  
Software - 5.2%      
AVG Technologies NV (I) 30,100   499,058  
Electronic Arts, Inc. (I) 123,800   4,408,518  
FactSet Research Systems, Inc. (L) 24,500   2,977,485  
Manhattan Associates, Inc. (I) 101,000   3,375,420  
Microsoft Corp. 38,507     1,785,185  
NetScout Systems, Inc. (I) 22,700   1,039,660  
Take-Two Interactive Software, Inc. (I) 179,100   4,131,837  
    18,217,163  
Technology hardware, storage and peripherals - 6.5%        
Apple, Inc. 140,482   14,153,562  
Hewlett-Packard Company 148,900   5,281,483  
Lexmark International, Inc., Class A 87,800   3,731,500  
  23,166,545  
  73,762,589  
Materials - 4.6%      
Chemicals - 1.3%      
PPG Industries, Inc. 24,400   4,800,456  
Metals and mining - 3.3%      
Alcoa, Inc. 284,800   4,582,432  
Compass Minerals International, Inc. 36,000   3,034,080  
United States Steel Corp. (L) 103,200   4,042,344  
  11,658,856  
  16,459,312  
Telecommunication services - 2.3%      
Diversified telecommunication services - 2.3%      
Atlantic Tele-Network, Inc. 1,300   70,070  
CenturyLink, Inc. 5,800   237,162  
Verizon Communications, Inc. 154,600   7,728,454  
  8,035,686  
Utilities - 2.0%      
Electric utilities - 1.7%      
Edison International 52,300   2,924,616  
Entergy Corp. 36,100   2,791,613  
NRG Yield, Inc., Class A 7,100   334,055  
  6,050,284  
Gas utilities - 0.3%      
AGL Resources, Inc. 22,000   1,129,480  
  7,179,764  
TOTAL COMMON STOCKS (Cost $329,761,072) $ 350,213,816  
     
SECURITIES LENDING COLLATERAL - 4.5%      
John Hancock Collateral      
       Investment Trust, 0.1178% (W)(Y) 1,572,702   15,738,183  
TOTAL SECURITIES LENDING      
COLLATERAL (Cost $15,738,112) $ 15,738,183  
SHORT-TERM INVESTMENTS - 0.9%      
Money market funds - 0.9%      
State Street Institutional Liquid Reserves      
       Fund, 0.0853% (Y) 3,266,793   3,266,793  
TOTAL SHORT-TERM INVESTMENTS (Cost $3,266,793)   $ 3,266,793  
Total Investments (All Cap Core Trust)      
       (Cost $348,765,977) - 104.4% $ 369,218,792  
Other assets and liabilities, net - (4.4%)   (15,515,652 )
TOTAL NET ASSETS - 100.0% $ 353,703,140  
    
Alpha Opportunities Trust
  
Shares or
Principal
Amount Value
COMMON STOCKS - 96.0%      
Consumer discretionary - 14.2%      
Automobiles - 0.8%      
Fiat SpA (I) 67,032 $ 646,036  
Ford Motor Company 180,231   2,665,608  
Harley-Davidson, Inc. 46,535   2,708,337  
Suzuki Motor Corp. 3,765   124,867  
Tesla Motors, Inc. (I)(L) 2,125   515,695  
  6,660,543  
Diversified consumer services - 0.0%      
The Honest Company, Inc. (I)(R) 3,841   103,927  
  103,927  
Hotels, restaurants and leisure - 1.3%      
Boyd Gaming Corp. (I) 33,717   342,565  
McDonald’s Corp. 66,971   6,349,521  
OPAP SA 42,589   558,475  
Whitbread PLC 19,368   1,301,449  
Wyndham Worldwide Corp. 20,657   1,678,588  
  10,230,598  
Household durables - 3.0%      
D.R. Horton, Inc. 237,940   4,882,529  
KB Home (L) 51,367   767,423  
Lennar Corp., Class A 71,852   2,790,013  
Newell Rubbermaid, Inc. 3,709   127,627  
NVR, Inc. (I) 4,099   4,631,952  
PulteGroup, Inc. 236,047   4,168,590  
Whirlpool Corp. 41,681   6,070,838  
  23,438,972  
Internet and catalog retail - 2.4%      
Amazon.com, Inc. (I) 11,629   3,749,655  
ASOS PLC (I) 16,200   588,751  
Ctrip.com International, Ltd., ADR (I) 4,272   242,479  
Expedia, Inc. 6,363   557,526  
Groupon, Inc. (I)(L) 388,099   2,592,501  
HSN, Inc. 1,000   61,370  
Netflix, Inc. (I) 12,461   5,622,154  
The Priceline Group, Inc. (I) 4,186   4,849,816  
TripAdvisor, Inc. (I) 4,423   404,351  
Zalando SE (I) 7,296   198,127  
  18,866,730  
Media - 1.0%      
CyberAgent, Inc. 9,560   335,721  
DHX Media, Ltd. (I) 175,520   1,369,744  

The accompanying notes are an integral part of the financial statements. 25


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Alpha Opportunities Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Media (continued)
DISH Network Corp., Class A (I) 19,383 $ 1,251,754
Loral Space & Communications, Inc. (I) 12,415 891,521
Mediaset Espana Comunicacion SA (I) 80,575 999,978
Solocal Group (I) 1,376,786 975,534
Tribune Company, Class A (I) 2,745 180,621
WPP PLC 79,211 1,586,875
7,591,748
Multiline retail - 0.2%
Intime Retail Group Company, Ltd. 842,780 717,456
Tuesday Morning Corp. (I)(L) 61,315 1,189,818
1,907,274
Specialty retail - 4.9%
Advance Auto Parts, Inc. 87,953 11,460,276
AutoZone, Inc. (I) 4,414 2,249,639
CarMax, Inc. (I) 8,729   405,462
Lowe’s Companies, Inc. 216,633 11,464,218
Outerwall, Inc. (I) 7,544 423,218
Signet Jewelers, Ltd. 11,295   1,286,613
The Home Depot, Inc. 53,615 4,918,640
The TJX Companies, Inc. 93,297 5,520,383
Tiffany & Company 10,516 1,012,796
Zhongsheng Group Holdings, Ltd. 539,620 575,482
39,316,727
Textiles, apparel and luxury goods - 0.6%
ANTA Sports Products, Ltd. 250,733 506,937
Asics Corp. 15,995 360,746
Deckers Outdoor Corp. (I) 2,672 259,665
Kate Spade & Company (I) 19,345 507,419
Samsonite International SA 1,057,180 3,394,177
5,028,944
113,145,463
Consumer staples - 5.4%
Beverages - 2.6%
Anheuser-Busch InBev NV 16,926 1,877,058
Anheuser-Busch InBev NV, ADR 33,270 3,687,980
Coca-Cola Company 41,900 1,787,454
Diageo PLC 141,950 4,094,139
Diageo PLC, ADR 17,161 1,980,379
Molson Coors Brewing Company, Class B 36,700 2,731,948
Monster Beverage Corp. (I) 18,244 1,672,427
Treasury Wine Estates, Ltd. 653,488 2,415,715
20,247,100
Food and staples retailing - 0.2%
Seven & I Holdings Company, Ltd. 39,935 1,548,935
1,548,935
Food products - 2.3%
Archer-Daniels-Midland Company 4,151 212,116
Greencore Group PLC 566,533 2,142,155
Hormel Foods Corp. 2,500 128,475
Ingredion, Inc. 41,410 3,138,464
Keurig Green Mountain, Inc. 9,469 1,232,201
Kraft Foods Group, Inc. 59,023 3,328,897
Mead Johnson Nutrition Company 4,380 421,444
Mondelez International, Inc., Class A 66,300 2,271,770
Post Holdings, Inc. (I) 19,448 645,285
The Hershey Company 21,833 2,083,523
The WhiteWave Foods Company, Class A (I) 8,586 311,929
Tyson Foods, Inc., Class A 4,273 168,228
Unilever NV - NY Shares 53,794 2,134,546
18,219,033
Household products - 0.1%
Svenska Cellulosa AB SCA, B Shares 39,908 948,258
948,258
Personal products - 0.0%
Kao Corp. 3,271 127,643
127,643
Tobacco - 0.2%
Philip Morris International, Inc. 19,146 1,596,776
1,596,776
42,687,745
Energy - 6.9%
Energy equipment and services - 0.9%
Baker Hughes, Inc. 18,417 1,198,210
Halliburton Company 27,921 1,801,184
Helmerich & Payne, Inc. 5,095 498,648
Schlumberger, Ltd. 2,871 291,952
Seventy Seven Energy, Inc. (I) 790 18,755
Trican Well Service, Ltd. 295,310 3,454,227
7,262,976
Oil, gas and consumable fuels - 6.0%
Anadarko Petroleum Corp. 26,930 2,731,779
BG Group PLC 270,763 4,998,512
Cameco Corp. (L) 11,027 194,737
Chesapeake Energy Corp. 10,631 244,407
Chevron Corp. 31,637 3,774,927
China Suntien Green Energy Corp., Ltd.,
       H Shares 3,115,950 777,230
Cobalt International Energy, Inc. (I) 376,872 5,125,459
Concho Resources, Inc. (I) 2,694 337,801
Exxon Mobil Corp. 39,828 3,745,823
Imperial Oil, Ltd. (L) 91,040 4,298,909
Karoon Gas Australia, Ltd. (I) 729,301 2,221,661
Occidental Petroleum Corp. 19,659 1,890,213
Pacific Rubiales Energy Corp. 72,000 1,207,340
Phillips 66 2,512 204,251
Pioneer Natural Resources Company 48,163 9,486,666
Suncor Energy, Inc. 103,420 3,738,633
Tesoro Corp. 5,018 305,998
Tsakos Energy Navigation, Ltd. 311,607 1,988,053
Whiting Petroleum Corp. (I) 3,566 276,543
47,548,942
54,811,918
Financials - 11.7%
Banks - 3.9%
BOK Financial Corp. 25,794 1,714,785
Citigroup, Inc. 50,070 2,594,627
Fifth Third Bancorp 10,182 203,844
First Republic Bank 26,189 1,293,213
Frost Bankers, Inc. 6,798 520,115
Grupo Financiero Banorte SAB
       de CV, Series O 206,100 1,319,881
HDFC Bank, Ltd. 98,439 1,463,703
JPMorgan Chase & Company 70,260 4,232,462
M&T Bank Corp. (L) 39,865 4,914,956
The PNC Financial Services Group, Inc. 88,366 7,562,362

The accompanying notes are an integral part of the financial statements. 26


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Alpha Opportunities Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Banks (continued)
Wells Fargo & Company 97,057 $ 5,034,347
30,854,295
Capital markets - 1.8%
BlackRock, Inc. 35,755 11,739,082
Julius Baer Group, Ltd. (I) 28,344 1,266,614
SEI Investments Company 26,825 969,992
13,975,688
Diversified financial services - 0.6%
Berkshire Hathaway, Inc., Class B (I) 15,652 2,162,167
McGraw-Hill Financial, Inc. 14,605 1,233,392
Moody’s Corp. 11,636 1,099,602
4,495,161
Insurance - 4.9%
ACE, Ltd. 64,682 6,783,201
Alleghany Corp. (I) 4,180 1,747,867
American International Group, Inc. 78,442 4,237,437
Fairfax Financial Holdings, Ltd. 4,575   2,049,814
Markel Corp. (I) 6,883 4,378,620
Marsh & McLennan Companies, Inc. 166,672 8,723,612
MetLife, Inc. 143,624 7,715,481
PICC Property & Casualty Company, Ltd.,    
       H Shares 284,000 503,768
St James’s Place PLC 100,620 1,186,607
White Mountains Insurance Group, Ltd. 2,719 1,713,160
39,039,567
Real estate investment trusts - 0.2%
Kennedy Wilson Europe Real Estate PLC 83,448 1,475,752
1,475,752
Real estate management and development - 0.3%
Daito Trust Construction Company, Ltd. 10,200 1,206,177
GAGFAH SA (I) 63,469 1,179,872
Realogy Holdings Corp. (I) 7,608 283,018
2,669,067
92,509,530
Health care - 15.7%
Biotechnology - 2.3%
Alnylam Pharmaceuticals, Inc. (I) 22,830 1,783,023
Arena Pharmaceuticals, Inc. (I)(L) 131,970 552,954
Biogen Idec, Inc. (I) 4,975 1,645,780
Celgene Corp. (I) 19,787 1,875,412
Cubist Pharmaceuticals, Inc. (I) 4,789 317,702
Gilead Sciences, Inc. (I) 22,606 2,406,409
Incyte Corp. (I) 24,394 1,196,526
Innate Pharma SA (I) 44,964 438,371
Medivation, Inc. (I) 3,895 385,099
Portola Pharmaceuticals, Inc. (I) 24,677 623,835
PTC Therapeutics, Inc. (I) 6,800 299,268
Puma Biotechnology, Inc. (I) 1,656 395,072
Regeneron Pharmaceuticals, Inc. (I) 8,314 2,997,363
TESARO, Inc. (I) 16,873 454,221
Vertex Pharmaceuticals, Inc. (I) 28,899 3,245,647
18,616,682
Health care equipment and supplies - 0.6%
Corindus Vascular Robotics, Inc. (I)(R) 519,782 1,356,259
Medtronic, Inc. 58,840 3,645,138
5,001,397
Health care providers and services - 2.9%
Acadia Healthcare Company, Inc. (I) 25,362 1,230,057
Aetna, Inc. 26,519 2,148,039
Cardinal Health, Inc. 57,453 4,304,379
Community Health Systems, Inc. (I) 3,924 214,996
Envision Healthcare Holdings, Inc. (I) 129,023 4,474,518
HCA Holdings, Inc. (I) 10,389 732,632
Humana, Inc. 1,945 253,414
Laboratory Corp. of America Holdings (I) 23,861 2,427,857
Tenet Healthcare Corp. (I) 11,031 655,131
UnitedHealth Group, Inc. 60,960 5,257,800
Universal Health Services, Inc., Class B 13,171 1,376,370
23,075,193
Health care technology - 0.1%
CareView Communications, Inc. (I) 1,190,095 511,741
511,741
Life sciences tools and services - 0.2%
Illumina, Inc. (I) 11,033 1,808,529
1,808,529
Pharmaceuticals - 9.6%
Actavis PLC (I) 27,363 6,602,145
Allergan, Inc. 2,389 425,696
Astellas Pharma, Inc. 10,310 153,553
AstraZeneca PLC 51,709 3,705,612
AstraZeneca PLC, ADR 17,480 1,248,771
Bristol-Myers Squibb Company 434,646 22,245,182
Eli Lilly & Company 51,711 3,353,458
Jazz Pharmaceuticals PLC (I) 6,320 1,014,739
Johnson & Johnson 71,153 7,584,198
Merck & Company, Inc. 181,789 10,776,452
Novo Nordisk A/S, Class B 9,070 431,839
Ono Pharmaceutical Company, Ltd. 50,315 4,467,857
Roche Holding AG 25,583 7,554,735
Salix Pharmaceuticals, Ltd. (I) 18,454 2,883,253
TherapeuticsMD, Inc. (I) 723,551 3,357,277
75,804,767
124,818,309
Industrials - 15.2%
Aerospace and defense - 3.1%
Bombardier, Inc., Class B (L) 173,530 584,140
DigitalGlobe, Inc. (I) 107,065 3,051,353
Esterline Technologies Corp. (I) 10,860 1,208,392
Lockheed Martin Corp. 25,656 4,689,404
Moog, Inc., Class A (I) 13,600 930,240
Northrop Grumman Corp. 32,957 4,342,414
Raytheon Company 18,300 1,859,646
Rolls-Royce Holdings PLC (I) 48,862 760,471
Safran SA 21,348 1,384,070
TransDigm Group, Inc. 8,984 1,656,021
United Technologies Corp. 35,239 3,721,238
24,187,389
Air freight and logistics - 1.1%
FedEx Corp. 3,973 641,441
United Parcel Service, Inc., Class B 74,167 7,289,874
UTi Worldwide, Inc. (I)(L) 63,050 670,222
8,601,537
Airlines - 0.4%
AirAsia BHD 1,418,526 1,093,167
American Airlines Group, Inc. 33,583 1,191,525
Deutsche Lufthansa AG 22,540 353,926

The accompanying notes are an integral part of the financial statements. 27


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Alpha Opportunities Trust (continued)

Shares or
Principal  
Amount       Value
COMMON STOCKS (continued)
Airlines (continued)
JetBlue Airways Corp. (I) 19,967 $ 212,050
United Continental Holdings, Inc. (I) 7,294 341,286
3,191,954
Building products - 0.6%
Daikin Industries, Ltd. 3,086 191,434
Lennox International, Inc. 43,134 3,315,711
Owens Corning 34,112 1,083,056
Wienerberger AG 27,358 352,235
4,942,436
Commercial services and supplies - 0.3%
Clean Harbors, Inc. (I) 47,175 2,543,676
2,543,676
Construction and engineering - 1.1%
AECOM Technology Corp. (I) 176,015 5,940,506
China Machinery Engineering Corp., H Shares 1,061,000 608,578
Jacobs Engineering Group, Inc. (I) 44,983 2,196,070
    8,745,154
Electrical equipment - 2.1%
Acuity Brands, Inc. 49,756 5,856,779
Capstone Turbine Corp. (I)(L) 989,605 1,058,877
Eaton Corp. PLC 54,187 3,433,830
Hubbell, Inc., Class B 6,262 754,759
Nidec Corp. 38,294   2,587,798
Schneider Electric SE (I) 16,947 1,300,215
SolarCity Corp. (I)(L) 5,245 312,602
Zumtobel Group AG 88,561 1,656,018
16,960,878
Industrial conglomerates - 0.9%
3M Company 15,450 2,188,956
Danaher Corp. 61,883 4,701,870
6,890,826
Machinery - 1.5%
Allison Transmission Holdings, Inc. 126,528 3,604,783
Arcam AB (I)(L) 58,215 1,358,204
Barnes Group, Inc. 18,829 571,460
IDEX Corp. 21,934 1,587,364
PACCAR, Inc. 50,674 2,882,084
Pall Corp. 18,945 1,585,697
SMC Corp. 765 210,942
11,800,534
Marine - 0.2%
Mitsui O.S.K. Lines, Ltd. 205,590 656,886
Nippon Yusen KK 200,040 527,424
Pacific Basin Shipping, Ltd. 1,060,000 571,905
1,756,215
Professional services - 1.5%
IHS, Inc., Class A (I) 46,552 5,827,845
ManpowerGroup, Inc. 37,979 2,662,328
Nielsen NV 82,891 3,674,558
12,164,731
Road and rail - 0.7%
AMERCO 3,420 895,664
Canadian National Railway Company 23,911 1,697,543
DSV A/S 52,306 1,470,771
Hertz Global Holdings, Inc. (I) 32,033 813,318
Kansas City Southern 6,277 760,772
Old Dominion Freight Line, Inc. (I) 3,044 215,028
5,853,096
Trading companies and distributors - 1.7%
HD Supply Holdings, Inc. (I) 192,512 5,247,877
MSC Industrial Direct Company, Inc., Class A 39,234 3,352,938
Rexel SA 79,114 1,477,435
WESCO International, Inc. (I) 41,606 3,256,086
13,334,336
120,972,762
Information technology - 21.9%
Communications equipment - 2.3%
ARRIS Group, Inc. (I) 60,777 1,723,332
Cisco Systems, Inc. 434,492 10,936,164
F5 Networks, Inc. (I) 18,103 2,149,550
Motorola Solutions, Inc. 34,850 2,205,308
Palo Alto Networks, Inc. (I) 3,990 391,419
Parkervision, Inc. (I)(L) 733,605 836,310
18,242,083
Electronic equipment, instruments and components - 0.6%
TE Connectivity, Ltd. 78,285 4,328,378
Truly International Holdings, Ltd. 282,125 161,377
4,489,755
Internet software and services - 5.2%
21vianet Group Inc (I)(L) 24,582 442,476
Akamai Technologies, Inc. (I) 80,277 4,800,565
Alibaba Group Holding, Ltd., ADR (I) 91,939 8,168,780
Angie’s List, Inc. (I)(L) 92,234 587,531
AOL, Inc. (I) 43,497 1,955,190
Baidu, Inc., ADR (I) 6,662 1,453,848
CoStar Group, Inc. (I) 6,900 1,073,226
Facebook, Inc., Class A (I) 92,382 7,301,873
Gogo, Inc. (I)(L) 138,909 2,342,006
Google, Inc., Class A (I) 3,445 2,027,072
Google, Inc., Class C (I) 4,267 2,463,595
InterActiveCorp 8,596 566,476
LinkedIn Corp., Class A (I) 994 206,543
Monster Worldwide, Inc. (I) 307,865 1,693,258
Open Text Corp. 2,942 163,046
Pandora Media, Inc. (I) 11,674 282,044
Tencent Holdings, Ltd. 17,416 258,727
Yelp, Inc. (I)(L) 80,437 5,489,825
41,276,081
IT services - 1.4%
Accenture PLC, Class A 58,755 4,777,957
Amadeus IT Holding SA, A Shares 10,930 408,031
Automatic Data Processing, Inc. 30,084 2,499,379
Fidelity National Information Services, Inc. 5,236 294,787
FleetCor Technologies, Inc. (I) 1,197 170,118
Optimal Payments PLC (I) 253,767 2,109,758
Total System Services, Inc. 18,300 566,568
10,826,598
Semiconductors and semiconductor equipment - 6.0%  
Analog Devices, Inc. 30,161 1,492,668
Applied Materials, Inc. 73,715 1,592,981
First Solar, Inc. (I) 6,364 418,815
Freescale Semiconductor, Ltd. (I)(L) 56,013 1,093,934
GCL-Poly Energy Holdings, Ltd. (I) 6,228,140 2,298,929
GT Advanced Technologies, Inc. (I)(L) 156,675 1,696,790
Intel Corp. 158,669 5,524,855

The accompanying notes are an integral part of the financial statements. 28


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Alpha Opportunities Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Semiconductors and semiconductor equipment (continued)  
Lam Research Corp. 15,821 $ 1,181,829
Maxim Integrated Products, Inc. 59,575 1,801,548
Micron Technology, Inc. (I) 265,173 9,084,827
NXP Semiconductor NV (I) 151,271 10,351,475
SK Hynix, Inc. (I) 41,034 1,816,208
Sumco Corp. (L) 301,080 3,650,963
SunEdison, Inc. (I) 161,857 3,055,860
SunPower Corp. (I)(L) 62,795   2,127,495
Synaptics, Inc. (I) 1,678 122,830
Teradyne, Inc. 12,535 243,054
47,555,061
Software - 3.6%
Activision Blizzard, Inc. 96,719 2,010,788
Adobe Systems, Inc. (I) 23,676 1,638,142
Cadence Design Systems, Inc. (I) 223,713 3,850,101
Ellie Mae, Inc. (I) 32,430 1,057,218
EnerNOC, Inc. (I) 92,238 1,564,356
FactSet Research Systems, Inc. (L) 16,788   2,040,246
Fortinet, Inc. (I) 11,414 288,375
Microsoft Corp. 253,450 11,749,942
Monitise PLC (I)(L) 867,045 422,415
Salesforce.com, Inc. (I) 4,791 275,626
ServiceNow, Inc. (I) 3,412 200,557
Symantec Corp. 75,066 1,764,802
Tableau Software, Inc., Class A (I) 13,210 959,707
Tangoe, Inc. (I) 29,538 400,240
UBISOFT Entertainment SA (I) 37,166 609,489
28,832,004
Technology hardware, storage and peripherals - 2.8%
Apple, Inc. 153,110 15,425,833
Lenovo Group, Ltd. 1,050,000 1,563,967
NEC Corp. 462,000 1,596,846
Nokia OYJ, ADR 36,405 307,986
SanDisk Corp. 19,442 1,904,344
Stratasys, Ltd. (I)(L) 12,485 1,507,938
Western Digital Corp. 3,282 319,404
22,626,318
173,847,900
Materials - 3.5%
Chemicals - 2.1%
Ecolab, Inc. 8,135 934,142
Givaudan SA (I) 428 682,231
Methanex Corp. 14,358 959,114
Platform Specialty Products Corp. (I) 117,889 2,949,583
Praxair, Inc. 37,487 4,835,823
The Dow Chemical Company 52,753 2,766,367
The Sherwin-Williams Company 6,787 1,486,285
Wacker Chemie AG 13,456 1,620,787
16,234,332
Construction materials - 0.2%
Headwaters, Inc. (I) 35,634 446,850
Martin Marietta Materials, Inc. 8,240 1,062,466
Vulcan Materials Company 3,553 213,997
1,723,313
Containers and packaging - 0.5%
Berry Plastics Group, Inc. (I) 6,286 158,659
Packaging Corp. of America 26,854 1,713,822
Silgan Holdings, Inc. 25,704 1,208,088
Smurfit Kappa Group PLC 55,576 1,214,736
4,295,305
Metals and mining - 0.2%
Barrick Gold Corp. 87,007 1,275,523
Continental Gold, Ltd. 30,671 79,420
1,354,943
Paper and forest products - 0.5%
Norbord, Inc. 202,600 4,153,485
4,153,485
27,761,378
Telecommunication services - 0.6%
Diversified telecommunication services - 0.4%
Verizon Communications, Inc. 65,796 3,289,142
3,289,142
Wireless telecommunication services - 0.2%
SoftBank Corp. 25,250 1,763,684
1,763,684
5,052,826
Utilities - 0.9%
Electric utilities - 0.0%
CGN Meiya Power
       Holdings Company, Ltd. (I)(S) 144,000 31,712
31,712
Gas utilities - 0.7%
UGI Corp. 170,021 5,796,016
Independent power and renewable electricity producers - 0.2%
China Longyuan Power Group Corp., H Shares 1,060,550 1,035,096
1,035,096
6,862,824
TOTAL COMMON STOCKS (Cost $697,761,515) $ 762,470,655
         
PREFERRED SECURITIES - 1.0%
Consumer discretionary - 0.0%
The Honest Company, Inc. (I)(R) 8,963 242,515
242,515
Financials - 0.0%
LendingClub Corp., Series D (I)(R) 19,116 194,434
194,434
Health care - 0.0%
ConforMIS, Inc. (I)(R) 27,370 218,960
218,960
Industrials - 0.1%
Lithium Technology Corp. (I)(R) 85,197 415,250
415,250
Information technology - 0.9%
Apigee Corp., Series H (I)(R) 148,495 432,120
Cloudera, Inc., Series F (I)(R) 15,771 438,875
Datalogix Holdings, Inc. (I)(R) 51,513 530,584
DocuSign, Inc., Series B (I)(R) 865 10,311
DocuSign, Inc., Series B1 (I)(R) 259 3,087
DocuSign, Inc., Series D (I)(R) 621 7,402
DocuSign, Inc., Series E (I)(R) 16,071 191,566
Dropbox, Inc., Series C (I)(R) 10,895 178,787
Essence Group Holdings Corp. (I)(R) 203,629 321,999

The accompanying notes are an integral part of the financial statements. 29


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Alpha Opportunities Trust (continued)

Shares or
Principal
Amount       Value
PREFERRED SECURITIES (continued)
Information technology (continued)
Lookout, Inc., Series F (I)(R) 25,174 $ 287,565
New Relic, Inc., Series F (I)(R) 11,307 327,157
Nutanix, Inc. (I)(R) 32,127 430,389
Pure Storage, Inc., Series F (I)(R) 62,660 985,385
Uber Technologies, Inc. (I)(R) 35,556 2,206,328
Veracode, Inc. (I)(R) 18,712 345,534
6,697,089
TOTAL PREFERRED SECURITIES (Cost $7,609,921) $ 7,768,248
 
WARRANTS - 0.1%
Moscow Exchange MICEX (Expiration Date:
        04/18/2023; Strike Price: RUB 0.00) (I)(S) 733,100 1,083,309
TOTAL WARRANTS (Cost $1,179,268) $ 1,083,309
 
SECURITIES LENDING COLLATERAL - 4.0%
John Hancock Collateral
        Investment Trust, 0.1178% (W)(Y) 3,167,684 31,699,330
TOTAL SECURITIES LENDING
COLLATERAL (Cost $31,699,125) $ 31,699,330
 
SHORT-TERM INVESTMENTS - 2.0%
Repurchase agreement - 2.0%
Deutsche Bank Tri-Party Repurchase
        Agreement dated 09/30/14 at 0.010% to be
        repurchased at $15,500,004 on 10/01/014,
        collateralized by $15,924,600 U.S. Treasury
        Notes, 2.375% due 08/15/2024 (valued at
        $15,810,082, including interest) $ 15,500,000 $ 15,500,000
TOTAL SHORT-TERM INVESTMENTS (Cost $15,500,000) $ 15,500,000
Total Investments (Alpha Opportunities Trust)
        (Cost $753,749,829) - 103.1% $ 818,521,542
Other assets and liabilities, net - (3.1%) (24,264,430 )
TOTAL NET ASSETS - 100.0% $ 794,257,112
   
American Asset Allocation Trust
 
   
   Shares or
Principal
Amount Value
INVESTMENT COMPANIES - 100.0%
American Funds Insurance Series - 100.0%
American Asset Allocation Fund - Class 1 78,083,796 $ 1,727,213,568
TOTAL INVESTMENT COMPANIES (Cost $1,045,593,585) $ 1,727,213,568
Total Investments (American Asset Allocation Trust)
        (Cost $1,045,593,585) - 100.0% $ 1,727,213,568
Other assets and liabilities, net - 0.0% (46,183 )
TOTAL NET ASSETS - 100.0% $ 1,727,167,385
  

American Global Growth Trust
  
Shares or
Principal
Amount Value
INVESTMENT COMPANIES - 100.0%
American Funds Insurance Series - 100.0%
American Global Growth Fund - Class 1 9,267,779 $ 253,381,090
TOTAL INVESTMENT COMPANIES (Cost $207,823,007) $ 253,381,090
Total Investments (American Global Growth Trust)  
        (Cost $207,823,007) - 100.0% $ 253,381,090
Other assets and liabilities, net - 0.0% 6,344
TOTAL NET ASSETS - 100.0% $ 253,387,434
  
American Growth Trust
 
    Shares or
Principal
Amount Value
INVESTMENT COMPANIES - 100.0%
American Funds Insurance Series - 100.0%
American Growth Fund - Class 1 13,407,317 $ 1,049,792,915
TOTAL INVESTMENT COMPANIES (Cost $625,483,874) $ 1,049,792,915
Total Investments (American Growth Trust)    
        (Cost $625,483,874) - 100.0%   $ 1,049,792,915
Other assets and liabilities, net - 0.0% (34,391 )
TOTAL NET ASSETS - 100.0% $ 1,049,758,524
  
American Growth-Income Trust
  
Shares or
Principal
Amount Value
INVESTMENT COMPANIES - 100.0%
American Funds Insurance Series - 100.0%
American Growth-Income Fund - Class 1 24,440,859 $ 1,270,680,284
TOTAL INVESTMENT COMPANIES (Cost $781,265,540) $ 1,270,680,284
Total Investments (American Growth-Income Trust)
        (Cost $781,265,540) - 100.0% $ 1,270,680,284
Other assets and liabilities, net - 0.0% (39,893 )
TOTAL NET ASSETS - 100.0% $ 1,270,640,391
  
American International Trust
  
Shares or
Principal
Amount Value
INVESTMENT COMPANIES - 100.0%
American Funds Insurance Series - 100.0%
American International Fund - Class 1 30,044,484 $ 630,032,820
TOTAL INVESTMENT COMPANIES (Cost $470,194,906) $ 630,032,820
Total Investments (American International Trust)
        (Cost $470,194,906) - 100.0% $ 630,032,820
Other assets and liabilities, net - 0.0% (26,954 )
TOTAL NET ASSETS - 100.0% $ 630,005,866

The accompanying notes are an integral part of the financial statements. 30


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

American New World Trust

Shares or
Principal
Amount       Value
INVESTMENT COMPANIES - 100.0%
American Funds Insurance Series - 100.0%
American New World Fund - Class 1 3,372,128 $ 75,738,005
TOTAL INVESTMENT COMPANIES (Cost $75,348,903) $ 75,738,005
Total Investments (American New World Trust)
       (Cost $75,348,903) - 100.0% $ 75,738,005
Other assets and liabilities, net - 0.0% (14,482 )
TOTAL NET ASSETS - 100.0% $ 75,723,523

Blue Chip Growth Trust
 
Shares or
Principal
Amount       Value
COMMON STOCKS - 99.5%
Consumer discretionary - 25.1%
Auto components - 0.1%
Delphi Automotive PLC 37,200   $ 2,281,850
Automobiles - 0.5%  
Harley-Davidson, Inc. 27,700   1,612,140
Tesla Motors, Inc. (I)(L) 31,400   7,620,152
9,232,292
Hotels, restaurants and leisure - 7.2%
Carnival Corp. 5,200 208,884
Chipotle Mexican Grill, Inc. (I) 38,300 25,530,397
Hilton Worldwide Holdings, Inc. (I) 269,122 6,628,475
Las Vegas Sands Corp. 227,700 14,165,217
Marriott International, Inc., Class A 40,729 2,846,957
MGM Resorts International (I) 352,300 8,025,394
Starbucks Corp. 358,100 27,022,226
Starwood Hotels & Resorts Worldwide, Inc. 102,100 8,495,741
Wynn Macau, Ltd. 1,358,000 4,327,878
Wynn Resorts, Ltd. 151,000 28,249,080
125,500,249
Internet and catalog retail - 9.8%
Amazon.com, Inc. (I) 235,589 75,963,317
Ctrip.com International, Ltd., ADR (I) 160,000 9,081,600
Netflix, Inc. (I) 45,600 20,573,808
The Priceline Group, Inc. (I) 48,000 55,611,840
TripAdvisor, Inc. (I) 24,000 2,194,080
Vipshop Holdings, Ltd., ADR (I)(L) 48,100 9,091,381
172,516,026
Leisure products - 0.0%
Polaris Industries, Inc. 1,200 179,748
Media - 1.1%
Discovery Communications, Inc., Series C (I) 223,800 8,343,264
The Walt Disney Company 109,900 9,784,397
Twenty-First Century Fox, Inc., Class A 34,100 1,169,289
19,296,950
Specialty retail - 5.1%
AutoZone, Inc. (I) 6,100 3,108,926
CarMax, Inc. (I) 94,900 4,408,105
L Brands, Inc. 105,200 7,046,296
Lowe’s Companies, Inc. 394,800 20,892,816
O’Reilly Automotive, Inc. (I) 109,600 16,479,456
Ross Stores, Inc. 107,600 8,132,408
The Home Depot, Inc. 207,800 19,063,572
Tiffany & Company 17,800 1,714,318
Tractor Supply Company 149,800 9,214,198
90,060,095
Textiles, apparel and luxury goods - 1.3%
Fossil Group, Inc. (I) 5,300 497,670
Hanesbrands, Inc. 82,600 8,874,544
Michael Kors Holdings, Ltd. (I) 80,700 5,761,173
NIKE, Inc., Class B 66,800 5,958,560
PVH Corp. 3,800 460,370
Ralph Lauren Corp. 2,000 329,460
VF Corp. 6,400 422,592
22,304,369
441,371,579
Consumer staples - 2.1%
Beverages - 0.2%
Constellation Brands, Inc., Class A (I) 29,300 2,553,788
Monster Beverage Corp. (I) 9,300 852,531
PepsiCo, Inc. 2,500 232,725
3,639,044
Food and staples retailing - 1.4%
Costco Wholesale Corp. 79,400 9,950,408
CVS Health Corp. 149,400 11,890,746
Walgreen Company 58,000 3,437,660
25,278,814
Food products - 0.1%
Keurig Green Mountain, Inc. 6,000 780,780
Personal products - 0.4%
The Estee Lauder Companies, Inc., Class A 103,100 7,703,632
37,402,270
Energy - 3.9%
Energy equipment and services - 0.1%
Schlumberger, Ltd. 14,892 1,514,367
Oil, gas and consumable fuels - 3.8%
Concho Resources, Inc. (I) 108,700 13,629,893
Continental Resources, Inc. (I)(L) 56,600 3,762,768
EOG Resources, Inc. 2,900 287,158
EQT Corp. 142,000 12,998,680
Pioneer Natural Resources Company 135,100 26,610,647
Range Resources Corp. 153,992 10,442,198
67,731,344
69,245,711
Financials - 7.5%
Banks - 0.0%
Citigroup, Inc. 5,200 269,464
Capital markets - 4.1%
Ameriprise Financial, Inc. 91,351 11,270,886
Invesco, Ltd. 382,600 15,105,048
Morgan Stanley 492,000 17,008,440
Northern Trust Corp. 44,389 3,019,784
State Street Corp. 161,007 11,851,725
TD Ameritrade Holding Corp. 424,700 14,172,239
72,428,122
Consumer finance - 0.7%
American Express Company 149,952 13,126,798
Diversified financial services - 0.4%
Intercontinental Exchange Group, Inc. 32,600 6,358,630

The accompanying notes are an integral part of the financial statements. 31


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Blue Chip Growth Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Insurance - 0.3%
Marsh & McLennan Companies, Inc. 86,300 $ 4,516,942
Real estate investment trusts - 2.0%
American Tower Corp. 367,038 34,365,768
131,065,724
Health care - 21.3%
Biotechnology - 11.9%
Alexion Pharmaceuticals, Inc. (I) 193,100 32,019,842
Biogen Idec, Inc. (I) 140,000 46,313,400
Celgene Corp. (I) 356,700 33,808,026
Gilead Sciences, Inc. (I) 674,500 71,800,525
Pharmacyclics, Inc. (I) 76,900 9,030,367
Regeneron Pharmaceuticals, Inc. (I) 25,200 9,085,104
Vertex Pharmaceuticals, Inc. (I) 57,400 6,446,594
208,503,858
Health care equipment and supplies - 1.4%  
Becton, Dickinson and Company 40,500 4,609,305
Covidien PLC 61,300 5,303,063
Intuitive Surgical, Inc. (I) 23,700 10,945,134
Stryker Corp. 55,579 4,488,004
25,345,506
Health care providers and services - 3.7%  
AmerisourceBergen Corp. 77,700 6,006,210
Cardinal Health, Inc. 114,500 8,578,340
McKesson Corp. 247,700 48,219,759
UnitedHealth Group, Inc. 22,500   1,940,625
64,744,934
Life sciences tools and services - 1.4%
Thermo Fisher Scientific, Inc. 198,400 24,145,280
Pharmaceuticals - 2.9%
AbbVie, Inc. 2,800 161,728
Actavis PLC (I) 29,100 7,021,248
Allergan, Inc. 160,900 28,670,771
Eli Lilly & Company 34,400 2,230,840
Valeant Pharmaceuticals International, Inc. (I) 97,000 12,726,400
50,810,987
373,550,565
Industrials - 13.1%
Aerospace and defense - 4.0%
Honeywell International, Inc. 54,200 5,047,104
Precision Castparts Corp. 140,500 33,281,640
The Boeing Company 210,400 26,800,752
United Technologies Corp. 42,300 4,466,880
69,596,376
Air freight and logistics - 0.7%
FedEx Corp. 72,100 11,640,545
Airlines - 2.0%
American Airlines Group, Inc. 511,300 18,140,924
Delta Air Lines, Inc. 130,400 4,713,960
United Continental Holdings, Inc. (I) 253,800 11,875,302
34,730,186
Industrial conglomerates - 3.1%
3M Company 15,600 2,210,208
Danaher Corp. 551,526 41,904,945
Roper Industries, Inc. 73,500 10,752,315
54,867,468
Machinery - 0.7%
Flowserve Corp. 43,400 3,060,568
Pall Corp. 18,000 1,506,600
Wabtec Corp. 104,700 8,484,888
13,052,056
Professional services - 0.3%
IHS, Inc., Class A (I) 47,200 5,908,968
Nielsen NV 4,600 203,918
6,112,886
Road and rail - 2.3%
Canadian Pacific Railway, Ltd. 38,200 7,925,354
J.B. Hunt Transport Services, Inc. 38,900 2,880,545
Kansas City Southern 111,000 13,453,200
Union Pacific Corp. 149,300 16,187,106
40,446,205
Trading companies and distributors - 0.0%
W.W. Grainger, Inc. 100 25,165
230,470,887
Information technology - 22.5%
Communications equipment - 0.0%
QUALCOMM, Inc. 4,677 349,699
Electronic equipment, instruments and components - 0.0%
Trimble Navigation, Ltd. (I) 10,400 317,200
Internet software and services - 14.0%
Akamai Technologies, Inc. (I) 109,100 6,524,180
Alibaba Group Holding, Ltd., ADR (I) 172,461 15,323,160
Baidu, Inc., ADR (I) 190,700 41,616,461
Facebook, Inc., Class A (I) 566,508 44,776,792
Google, Inc., Class A (I) 83,466 49,112,229
Google, Inc., Class C (I) 87,066 50,268,426
LinkedIn Corp., Class A (I) 59,300 12,321,947
NAVER Corp. 5,925 4,525,969
Tencent Holdings, Ltd. 1,089,800 16,189,718
Twitter, Inc. (I) 78,200 4,033,556
244,692,438
IT services - 5.3%
Cognizant Technology
       Solutions Corp., Class A (I) 101,000 4,521,770
Fiserv, Inc. (I) 159,900 10,335,137
FleetCor Technologies, Inc. (I) 2,300 326,876
MasterCard, Inc., Class A 550,100 40,663,392
Visa, Inc., Class A 174,800 37,297,076
93,144,251
Software - 2.0%
Autodesk, Inc. (I) 13,600 749,360
Electronic Arts, Inc. (I) 67,100 2,389,431
Intuit, Inc. 1,900 166,535
Microsoft Corp. 5,300 245,708
Red Hat, Inc. (I) 155,887 8,753,055
Salesforce.com, Inc. (I) 334,700 19,255,291
VMware, Inc., Class A (I)(L) 35,100 3,293,784
34,853,164
Technology hardware, storage and peripherals - 1.2%
Apple, Inc. 210,800 21,238,100
394,594,852
Materials - 3.6%
Chemicals - 3.6%
Ecolab, Inc. 209,000 23,999,470

The accompanying notes are an integral part of the financial statements. 32


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Blue Chip Growth Trust (continued)

Shares or      
Principal
Amount Value
COMMON STOCKS (continued)
Chemicals (continued)
Praxair, Inc. 76,300 $ 9,842,700
The Sherwin-Williams Company 136,500 29,892,135
  63,734,305
63,734,305
Telecommunication services - 0.4%
Wireless telecommunication services - 0.4%
SoftBank Corp. 97,900 6,838,203
TOTAL COMMON STOCKS (Cost $1,058,163,166) $ 1,748,274,096
 
SECURITIES LENDING COLLATERAL - 0.8%    
John Hancock Collateral  
       Investment Trust, 0.1178% (W)(Y) 1,321,311 13,222,495
TOTAL SECURITIES LENDING
COLLATERAL (Cost $13,222,420) $ 13,222,495
 
SHORT-TERM INVESTMENTS - 0.3%
Money market funds - 0.3%  
T. Rowe Price Prime Reserve Investment
       Fund, 0.0487% (Y) 4,245,617 4,245,617
State Street Institutional U.S. Government
       Money Market Fund, 0.0000% (Y) 450,000 450,000
    4,695,617
TOTAL SHORT-TERM INVESTMENTS (Cost $4,695,617) $ 4,695,617
Total Investments (Blue Chip Growth Trust)
       (Cost $1,076,081,203) - 100.6% $ 1,766,192,208
Other assets and liabilities, net - (0.6%) (9,918,819 )
TOTAL NET ASSETS - 100.0% $ 1,756,273,389

Bond Trust

Shares or      
Principal
Amount Value
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS - 58.8%
U.S. government - 25.1%
U.S. Treasury Bonds
       3.125%, 11/15/2041 to 02/15/2042 $ 206,585,000 $ 204,857,130
       3.375%, 05/15/2044 265,525,000 274,154,563
U.S. Treasury Notes  
       0.625%, 04/30/2018 83,000,000 80,821,250
       0.875%, 06/15/2017 to 07/15/2017 491,640,000 490,350,780
       1.000%, 06/30/2019 276,459,000 266,955,722
       1.250%, 10/31/2018 to 11/30/2018 487,610,100 481,355,052
       1.625%, 04/30/2019   11,525,000 11,484,478
       2.375%, 08/15/2024 639,712,000 632,515,240
       2.625%, 04/30/2018 93,000,000 97,097,766
  2,539,591,981
U.S. government agency - 33.7%
Federal Farm Credit Bank
       0.780%, 04/03/2017 8,745,000 8,718,564
       1.740%, 03/11/2020 59,240,000 57,829,970
       2.350%, 03/14/2022 23,355,000 22,752,301
       2.500%, 06/20/2022 15,995,000 15,553,250
       2.920%, 12/13/2027 4,767,000 4,457,565
Federal Home Loan Bank  
       0.750%, 11/28/2016 46,685,000 46,596,579
       1.000%, 04/28/2017 35,445,000 35,403,139
       2.900%, 09/05/2025 7,304,762 7,004,894
       3.170%, 10/04/2027 7,470,000 7,126,776
       3.250%, 06/21/2027 10,045,455 9,832,722
Federal Home Loan Mortgage Corp.
       0.750%, 10/28/2016 51,685,000   51,585,300
       0.800%, 12/30/2016 58,085,000 58,019,074
       1.150%, 07/28/2017 74,630,000   74,570,669
       1.250%, 08/21/2017 to 03/13/2018 172,671,000 171,871,358
       1.750%, 05/30/2019 39,956,000 39,843,644
       2.377%, 04/01/2042 (P) 27,800,147 28,439,412
       2.559%, 06/01/2044 (P) 19,368,518 19,836,229
       2.601%, 06/01/2035 to 06/01/2044 (P) 19,432,533 20,144,190
       2.621%, 01/01/2044 (P) 1,813,638 1,862,679
       2.632%, 11/01/2041 (P) 323,197 336,261
       2.697%, 05/01/2044 (P) 21,761,837 22,381,266
       3.000%, 02/01/2043 to 03/01/2043 58,243,760 57,854,468
       3.032%, 03/01/2044 (P) 22,249,126 22,979,253
       3.467%, 09/01/2039 (P) 1,524,070 1,633,612
       3.500%, 02/01/2026 to 05/01/2042 39,299,289 41,344,606
       4.000%, 09/01/2041 to 11/01/2043 72,055,394 76,061,886
       4.336%, 09/01/2039 (P) 600,544 641,583
       4.500%, 08/01/2040 to 10/01/2041 77,720,573 84,051,837
       5.000%, 09/01/2040 to 04/01/2041 40,654,687 44,850,765
       5.500%, 07/01/2037 to 10/01/2039 16,718,277 18,614,018
       6.000%, 11/01/2037 8,061,302 9,088,550
       6.500%, 12/01/2036 to 09/01/2039 17,231,480 19,336,478
Federal National Mortgage Association
       1.500%, 05/25/2018 36,840,000 36,679,304
       1.600%, 01/30/2020 75,835,000 73,438,766
       1.906%, 08/01/2042 (P) 869,070 892,343
       2.275%, 10/01/2035 (P) 50,234,336 53,363,684
       2.360%, 12/14/2022 50,000,000 47,895,650
       2.403%, 04/01/2042 (P) 12,945,865 13,442,417
       2.487%, 02/01/2042 (P) 9,452,247 9,826,717
       2.500%, 03/27/2023 44,807,000 43,734,365
       2.908%, 01/01/2044 (P) 13,054,998 13,461,688
       2.910%, 03/01/2044 (P) 20,006,548 20,620,469
       2.954%, 02/01/2042 (P) 5,623,002 5,860,124
       3.000%, 07/01/2027 to 04/01/2043 167,584,787 164,781,362
       3.250%, 07/26/2032 4,242,000 3,918,111
       3.400%, 09/27/2032 21,313,000 20,155,789
       3.500%, 02/01/2026 to 10/01/2043 332,650,477 343,333,456
       3.911%, 02/01/2040 (P) 179,532 191,482
       4.000%, 12/01/2024 to 06/01/2044 443,593,806 470,524,787
       4.485%, 09/01/2039 (P) 2,564,653 2,748,074
       4.500%, 01/01/2027 to 02/01/2042 383,145,468 414,525,317
       5.000%, 02/01/2033 to 12/01/2041 359,715,519 398,250,741
       5.500%, 02/01/2035 to 03/01/2041 74,212,000 82,910,612
       6.000%, 04/01/2035 to 06/01/2040 13,348,035 15,067,218
       6.500%, 07/01/2036 to 10/01/2039 54,689,350 61,686,495
Government National Mortgage Association
       3.500%, 11/20/2039 (P) 4,684,362 4,850,762
       4.000%, 10/15/2039 to 11/15/2041 23,726,864 25,266,347
       5.000%, 08/15/2039 264,702 295,111
  3,408,344,089
TOTAL U.S. GOVERNMENT AND AGENCY
OBLIGATIONS (Cost $5,893,617,517) $ 5,947,936,070

The accompanying notes are an integral part of the financial statements. 33


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Bond Trust (continued)

Shares or
Principal
Amount       Value
CORPORATE BONDS - 33.5%
Consumer discretionary - 3.0%
21st Century Fox America, Inc.
       6.150%, 03/01/2037 $ 3,689,000 $ 4,388,320
       6.400%, 12/15/2035 4,091,000 5,072,026
Bed Bath & Beyond, Inc.
       3.749%, 08/01/2024 (L) 6,785,000 6,729,424
       5.165%, 08/01/2044 6,785,000 6,643,594
BorgWarner, Inc.
       4.625%, 09/15/2020 10,971,000 11,774,044
Brinker International, Inc.
       2.600%, 05/15/2018 9,248,000 9,244,606
Delphi Corp.
       5.000%, 02/15/2023 29,800,000 31,886,000
DIRECTV Holdings LLC  
       5.875%, 10/01/2019 26,893,000 30,826,424
Ford Motor Company
       4.750%, 01/15/2043 5,220,000 5,224,364
Ford Motor Credit Company LLC  
       5.875%, 08/02/2021 51,054,000 58,715,214
       8.000%, 12/15/2016 13,215,000 15,030,490
Macy’s Retail Holdings, Inc.  
       7.875%, 08/15/2036 12,488,000 13,748,426
Myriad International Holdings BV    
       6.000%, 07/18/2020 (S) 6,800,000 7,378,000
Nissan Motor Acceptance Corp.
       1.950%, 09/12/2017 (S) 14,118,000 14,260,973
QVC, Inc.
       4.375%, 03/15/2023 12,808,000 12,781,603
       5.125%, 07/02/2022 8,888,000 9,339,804
       5.450%, 08/15/2034 (S) 11,570,000 11,364,042
Seminole Indian Tribe of Florida, Inc.
       6.535%, 10/01/2020 (S) 115,000 123,625
Sirius XM Radio, Inc.
       5.250%, 08/15/2022 (S) 24,340,000 25,374,450
Time Warner Cable, Inc.
       8.250%, 04/01/2019 14,849,000 18,448,130
  298,353,559
Consumer staples - 1.4%
Beam, Inc.
       1.750%, 06/15/2018 24,688,000 24,271,464
Bunge, Ltd. Finance Corp.
       8.500%, 06/15/2019 26,541,000 32,967,319
Pernod-Ricard SA
       5.750%, 04/07/2021 (S) 14,322,000 16,314,047
Safeway, Inc.
       4.750%, 12/01/2021 3,585,000 3,616,376
       5.000%, 08/15/2019 23,846,000 23,902,777
The Kroger Company
       6.400%, 08/15/2017 13,196,000 14,917,431
Tyson Foods, Inc.
       3.950%, 08/15/2024 10,145,000 10,165,665
Wm Wrigley Jr. Company
       1.400%, 10/21/2016 (S) 10,487,000 10,538,523
  136,693,602
Energy - 3.6%
Anadarko Petroleum Corp.
       8.700%, 03/15/2019 14,424,000 18,144,916
Boardwalk Pipelines LP
       5.500%, 02/01/2017 5,754,000 6,189,722
CenterPoint Energy Resources Corp.
       6.125%, 11/01/2017 10,735,000 12,185,492
CNOOC Finance 2013, Ltd.
       3.000%, 05/09/2023 15,885,000 14,765,632
Continental Resources, Inc.
       5.000%, 09/15/2022 21,202,000 22,368,110
DCP Midstream LLC
       9.750%, 03/15/2019 (S) 14,682,000 18,803,869
DCP Midstream Operating LP
       2.500%, 12/01/2017 11,518,000 11,753,439
       3.875%, 03/15/2023 6,149,000 6,158,064
Energy Transfer Partners LP
       5.200%, 02/01/2022 7,337,000 7,868,382
       9.700%, 03/15/2019 10,257,000 13,127,688
Enterprise Products Operating LLC
       6.500%, 01/31/2019 31,458,000 36,859,999
       6.650%, 04/15/2018 (P) 6,789,000 7,877,419
Enterprise Products Operating LLC (8.375% to
       08/01/2016, then 3 month LIBOR + 3.708%)
       08/01/2066 16,179,000 17,796,900
Kerr-McGee Corp.
       6.950%, 07/01/2024 12,006,000 15,112,228
Kinder Morgan Energy Partners LP
       7.750%, 03/15/2032 4,354,000 5,464,222
Lukoil International Finance BV
       3.416%, 04/24/2018 (S) 18,450,000 17,273,813
Northwest Pipeline LLC
       6.050%, 06/15/2018 22,955,000 25,988,205
ONEOK Partners LP
       3.200%, 09/15/2018 9,345,000 9,687,195
Petrobras International Finance Company
       5.375%, 01/27/2021 9,575,000 9,669,793
Petroleos Mexicanos
       4.875%, 01/24/2022 6,426,000 6,827,625
Plains All American Pipeline LP
       3.600%, 11/01/2024 10,120,000 9,935,077
Plains Exploration & Production Company
       6.750%, 02/01/2022 17,856,000 19,775,520
       6.875%, 02/15/2023 3,997,000 4,536,595
Rowan Companies, Inc.
       4.875%, 06/01/2022 14,091,000 14,641,972
Suncor Energy, Inc.
       6.100%, 06/01/2018 9,706,000 11,095,327
TransCanada Pipelines, Ltd. (6.350% to
       05/15/2017, then 3 month LIBOR + 2.210%)
       05/15/2067 22,032,000 22,748,040
366,655,244
Financials - 17.3%
American International Group, Inc.
       4.125%, 02/15/2024 9,721,000 10,100,498
American International Group, Inc. (8.175% to
       05/15/2038, then 3 month LIBOR + 4.195%)
       05/15/2058 1,622,000 2,185,645
American Tower Corp.
       3.400%, 02/15/2019 11,952,000 12,213,438
       4.700%, 03/15/2022 11,794,000 12,348,861
Aquarius + Investments PLC (6.375% to
       09/01/2019, then 5 Year U.S. Swap
       Rate + 5.210%)
       09/01/2024 6,740,000 7,053,949
ARC Properties Operating Partnership LP
       2.000%, 02/06/2017 (S) 22,465,000 22,453,970
       4.600%, 02/06/2024 (S) 24,261,000 24,704,564
Assured Guaranty US Holdings, Inc.
       5.000%, 07/01/2024 (L) 17,435,000 17,622,182
AXA SA
       8.600%, 12/15/2030 1,926,000 2,590,470

The accompanying notes are an integral part of the financial statements. 34


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Bond Trust (continued)

Shares or
Principal
Amount       Value
CORPORATE BONDS (continued)
Financials (continued)
AXA SA (6.379% to 12/14/2036, then
       3 month LIBOR + 2.256%)
       12/14/2036 (Q)(S) $ 7,219,000 $ 7,760,425
Bank of America Corp.  
       3.300%, 01/11/2023 10,727,000 10,464,972
       4.200%, 08/26/2024 10,125,000 10,024,266
       5.000%, 05/13/2021 19,275,000 21,171,332
       6.875%, 04/25/2018 21,275,000 24,542,542
Barclays Bank PLC
       6.050%, 12/04/2017 (S) 24,030,000 26,712,974
       10.179%, 06/12/2021 (S) 16,910,000 22,994,590
BioMed Realty LP  
       2.625%, 05/01/2019 11,400,000 11,327,804
       6.125%, 04/15/2020 3,430,000 3,932,101
BNP Paribas SA
       2.375%, 09/14/2017 30,106,000 30,643,091
Boston Properties LP  
       3.700%, 11/15/2018 8,519,000 9,017,566
BPCE SA
       1.625%, 02/10/2017 25,551,000 25,656,117
       4.500%, 03/15/2025 (S) 17,205,000 16,709,737
       5.700%, 10/22/2023 (S) 22,089,000 23,496,290
Capital One Bank USA NA
       1.300%, 06/05/2017 10,235,000 10,181,225
Capital One Financial Corp.
       4.750%, 07/15/2021 11,834,000 12,865,605
Citigroup, Inc.
       3.750%, 06/16/2024 13,550,000 13,501,220
       3.875%, 10/25/2023 10,284,000 10,406,123
       4.500%, 01/14/2022 18,598,000 19,944,997
       6.125%, 08/25/2036 12,355,000 14,165,823
CNA Financial Corp.
       7.250%, 11/15/2023 15,148,000 18,662,942
Credit Agricole SA (8.125% to 09/19/2018,
       then 5 Year U.S. Swap Rate + 6.283%)
       09/19/2033 (S) 9,235,000 10,248,772
Crown Castle Towers LLC
       4.883%, 08/15/2020 (S) 25,540,000 28,156,496
       6.113%, 01/15/2020 (S) 19,160,000 22,166,606
Discover Bank
       7.000%, 04/15/2020 5,561,000 6,580,520
       8.700%, 11/18/2019 16,725,000 20,885,043
Discover Financial Services
       5.200%, 04/27/2022 14,946,000 16,367,843
Doric Nimrod Air Alpha 2013-1
       Pass Through Trust
       5.250%, 05/30/2023 (S) 13,043,705 13,728,500
       6.125%, 11/30/2019 (S) 9,454,509 10,021,780
Doric Nimrod Air Finance Alpha, Ltd. 2012-1
       Class A Pass Through
       5.125%, 11/30/2022 (S) 7,462,463 7,913,054
Fifth Street Finance Corp.
       4.875%, 03/01/2019 12,820,000 13,257,034
Fifth Third Bank
       2.375%, 04/25/2019 28,465,000 28,510,914
FS Investment Corp.
       4.000%, 07/15/2019 16,045,000 16,032,501
General Electric Capital Corp.
       0.714%, 08/15/2036 (P) 9,945,000 8,655,641
       4.375%, 09/16/2020 7,815,000 8,545,499
       5.550%, 05/04/2020 26,236,000 30,025,528
Goodman Funding Pty, Ltd.
       6.375%, 04/15/2021 (S) 17,445,000 20,324,472
HBOS PLC
       6.000%, 11/01/2033 (S) 6,605,000 7,331,550
       6.750%, 05/21/2018 (S) 30,909,000 34,968,464
HCP, Inc.
       5.375%, 02/01/2021 9,618,000 10,734,621
       5.625%, 05/01/2017 14,955,000 16,453,715
Health Care REIT, Inc.
       4.125%, 04/01/2019 10,884,000 11,597,533
       4.950%, 01/15/2021 5,433,000 5,978,430
Highwoods Realty LP
       5.850%, 03/15/2017 22,525,000 24,729,499
Host Hotels & Resorts LP
       5.875%, 06/15/2019 12,452,000 13,193,268
HSBC Holdings PLC
       6.375%, 09/17/2024 (P)(Q) 7,190,000 7,181,013
ICICI Bank, Ltd.
       4.700%, 02/21/2018 (S) 11,770,000 12,427,825
       5.750%, 11/16/2020 (S) 9,790,000 10,844,031
ING Bank NV
       5.800%, 09/25/2023 (S) 18,105,000 19,948,017
Jefferies Group LLC
       6.875%, 04/15/2021 14,823,000 17,273,168
       8.500%, 07/15/2019 8,103,000 10,012,148
JPMorgan Chase & Company
       4.250%, 10/15/2020 21,732,000 23,167,703
       4.625%, 05/10/2021 35,540,000 38,645,805
JPMorgan Chase & Company (6.750% to
       02/01/2024, then 3 month LIBOR + 3.780%)
       02/01/2024 (Q) 23,315,000 24,585,668
JPMorgan Chase & Company (7.900% to
       04/30/2018, then 3 month LIBOR + 3.470%)
       04/30/2018 (Q) 14,557,000 15,801,624
Leucadia National Corp.
       5.500%, 10/18/2023 19,111,000 19,976,728
Lincoln National Corp. (6.050% to 04/20/17,
       then 3 month LIBOR + 2.040%)
       04/20/2067 11,321,000 11,575,723
Manufacturers & Traders Trust Company
       (5.585% to 12/28/2015, then 1 month
       LIBOR + 1.215%)
       12/28/2020 6,808,000 7,113,788
Manufacturers & Traders Trust Company
       (5.629% to 12/01/2016, then 3 month
       LIBOR + 6.400%)
       12/01/2021 23,290,000 24,163,375
MetLife, Inc.
       6.400%, 12/15/2036 9,264,000 10,329,360
Mizuho Financial Group Cayman 3, Ltd.
       4.600%, 03/27/2024 (S) 12,665,000 13,174,323
Morgan Stanley
       4.100%, 05/22/2023 24,856,000 24,793,810
       4.350%, 09/08/2026 3,500,000 3,441,004
       5.500%, 01/26/2020 19,082,000 21,400,654
       5.550%, 04/27/2017 11,310,000 12,383,624
       7.300%, 05/13/2019 29,612,000 35,326,938
MUFG Union Bank NA
       2.625%, 09/26/2018 26,176,000 26,616,045
Nippon Life Insurance Company (5.000% to
       10/18/2022, then 3 month LIBOR + 4.240%)
       10/18/2042 (S) 9,535,000 9,952,156
Nordea Bank AB
       1.625%, 05/15/2018 (S) 12,600,000 12,464,991

The accompanying notes are an integral part of the financial statements. 35


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Bond Trust (continued)

Shares or
Principal
Amount       Value
CORPORATE BONDS (continued)
Financials (continued)
Omega Healthcare Investors, Inc.
       4.500%, 01/15/2025 (S) $ 10,060,000 $ 9,890,791
       4.950%, 04/01/2024 (S) 10,050,000 10,225,875
Oversea-Chinese Banking Corp., Ltd. (4.000%
       to 10/15/2019, then 5 year U.S. Swap
       Rate + 2.203%)
       10/15/2024 (S) 5,835,000 5,895,147
Pacific LifeCorp.  
       6.000%, 02/10/2020 (S) 8,935,000 10,177,278
Prudential Financial, Inc. (5.200% to  
       03/15/2024, then 3 month LIBOR + 3.040%)
       03/15/2044 3,081,000 3,102,182
Prudential Financial, Inc. (5.875% to
       09/15/2022, then 3 month LIBOR + 4.175%)
       09/15/2042   19,223,000 20,376,380
Qwest Corp.
       6.750%, 12/01/2021 27,024,000 30,986,502
Rabobank Nederland NV
       3.875%, 02/08/2022 33,193,000 34,972,941
Rabobank Nederland NV (11.000% to
       06/30/2019, then 3 month
       LIBOR + 10.868%)  
       06/30/2019 (Q)(S) 14,722,000 19,469,845
Royal Bank of Scotland Group PLC
       6.400%, 10/21/2019 21,405,000 24,908,099
Santander Holdings USA, Inc.
       3.450%, 08/27/2018 11,389,000 11,876,392
Stifel Financial Corp.
       4.250%, 07/18/2024 11,735,000 11,805,304
Sumitomo Mitsui Banking Corp.
       2.450%, 01/10/2019 19,380,000 19,589,556
SunTrust Bank
       7.250%, 03/15/2018 10,645,000 12,301,256
SunTrust Banks, Inc.
       3.500%, 01/20/2017 12,871,000 13,500,340
Swedbank AB
       2.125%, 09/29/2017 (S) 18,855,000 19,042,909
Synchrony Financial
       4.250%, 08/15/2024 13,590,000 13,595,640
Teachers Insurance & Annuity Association of
       America
       6.850%, 12/16/2039 (S) 18,077,000 23,288,671
The Bear Stearns Companies LLC
       7.250%, 02/01/2018 325,000 378,130
The Goldman Sachs Group, Inc.
       5.250%, 07/27/2021 45,492,000 50,443,031
       5.750%, 01/24/2022 6,688,000 7,611,700
       6.250%, 09/01/2017 23,472,000 26,338,424
The Hartford Financial Services Group, Inc.
       5.375%, 03/15/2017 14,444,000 15,773,946
The PNC Financial Services Group, Inc.
       4.454%, 11/17/2014 (L)(P)(Q) 7,257,000 7,257,000
The PNC Financial Services Group, Inc.
       (4.850% to 06/01/2023, then 3 month
       LIBOR + 3.040%)
       06/01/2023 (Q) 8,534,000 8,085,965
Unum Group
       5.625%, 09/15/2020 4,846,000 5,515,741
USB Realty Corp.
       1.381%, 01/15/2017 (P)(Q)(S) 665,000 614,294
Ventas Realty LP
       3.750%, 05/01/2024 6,045,000 5,947,216
       4.750%, 06/01/2021 16,415,000 17,875,049
Wells Fargo & Company (5.900% to
       06/15/2024, then 3 month LIBOR + 3.110%)
       06/15/2024 (Q) 18,720,000 19,071,000
Wells Fargo & Company, Series K (7.980% to
       03/15/2018, then 3 month LIBOR + 3.770%)
       03/15/2018 (Q) 24,249,000 26,535,681
Wells Fargo Bank NA
       5.850%, 02/01/2037 9,200,000 11,302,264
  1,752,216,672
Health care - 1.5%
Aetna, Inc.
       1.500%, 11/15/2017 28,445,000 28,331,980
Express Scripts Holding Company
       2.650%, 02/15/2017 14,186,000 14,588,514
Medco Health Solutions, Inc.
       7.125%, 03/15/2018 17,544,000 20,429,128
Mylan, Inc.
       1.350%, 11/29/2016 21,081,000 21,076,721
       7.875%, 07/15/2020 (S) 16,151,000 17,523,350
Quest Diagnostics, Inc.
       2.700%, 04/01/2019 18,530,000 18,626,282
       4.250%, 04/01/2024 10,640,000 10,816,113
WellPoint, Inc.
       7.000%, 02/15/2019 18,346,000 21,862,396
153,254,484
Industrials - 2.8%
Air Lease Corp.
       3.375%, 01/15/2019 (L) 12,795,000 12,954,938
       3.875%, 04/01/2021 6,320,000 6,383,200
       4.750%, 03/01/2020 6,332,000 6,711,920
       5.625%, 04/01/2017 5,079,000 5,478,971
America West Airlines 2000-1 Pass
       Through Trust
       8.057%, 07/02/2020 1,856,012 2,115,854
American Airlines 2013-2 Class A Pass
       Through Trust
       4.950%, 01/15/2023 11,384,257 12,209,615
British Airways PLC 2013-1 Class A Pass
       Through Trust
       4.625%, 06/20/2024 (S) 25,935,057 27,361,485
British Airways PLC 2013-1 Class B Pass
       Through Trust
       5.625%, 06/20/2020 (S) 8,967,308 9,550,184
Continental Airlines 1997-4 Class A Pass
       Through Trust
       6.900%, 01/02/2018 5,105,656 5,418,123
Continental Airlines 1998-1 Class A Pass
       Through Trust
       6.648%, 09/15/2017 1,953,029 2,070,211
Continental Airlines 1999-1 Class A Pass
       Through Trust
       6.545%, 02/02/2019 3,965,926 4,397,419
Continental Airlines 2007-1 Class A Pass
       Through Trust
       5.983%, 04/19/2022 13,380,323 14,852,159
Continental Airlines 2012-2 Class B Pass
       Through Trust
       5.500%, 10/29/2020 1,192,681 1,258,279
Delta Air Lines 2007-1 Class A Pass
       Through Trust
       6.821%, 08/10/2022 17,617,553 20,524,449

The accompanying notes are an integral part of the financial statements. 36


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Bond Trust (continued)

Shares or
Principal
Amount       Value
CORPORATE BONDS (continued)
Industrials (continued)
Delta Air Lines 2010-1 Class A Pass
       Through Trust
       6.200%, 07/02/2018 $ 2,369,883 $ 2,627,015
Delta Air Lines 2011-1 Class A Pass
       Through Trust
       5.300%, 04/15/2019 7,031,545   7,681,962
Embraer Overseas, Ltd.
       5.696%, 09/16/2023 (S) 8,416,000 8,984,080
International Lease Finance Corp.  
       7.125%, 09/01/2018 (S) 6,624,000 7,452,000
L-3 Communications Corp.
       3.950%, 05/28/2024 11,380,000 11,294,582
Northwest Airlines 2007-1 Class A Pass  
       Through Trust
       7.027%, 11/01/2019 60,364 69,189
Odebrecht Finance, Ltd.
       7.125%, 06/26/2042 (S) 13,420,000 14,372,820
       7.500%, 09/14/2015 (Q)(S) 5,620,000 5,676,200
Penske Truck Leasing Company LP
       2.875%, 07/17/2018 (S) 11,979,000 12,259,560
Ryder System, Inc.
       3.500%, 06/01/2017 16,089,000 16,891,085
Textron, Inc.
       5.600%, 12/01/2017 7,673,000 8,520,813
       7.250%, 10/01/2019 6,530,000 7,795,024
Trinity Industries, Inc.
       4.550%, 10/01/2024 12,700,000 12,695,540
UAL 2009-2A Pass Through Trust
       9.750%, 01/15/2017 6,470,740 7,311,937
United Airlines 2014-2 Class A Pass
       Through Trust
       3.750%, 09/03/2026 15,810,000 16,007,625
US Airways 2012-1 Class A Pass
       Through Trust
       5.900%, 10/01/2024 6,639,882 7,436,668
  278,362,907
Information technology - 0.3%
Xerox Corp.
       5.625%, 12/15/2019 14,428,000 16,308,228
       6.750%, 02/01/2017 9,338,000 10,451,314
  26,759,542
Materials - 1.0%
Braskem Finance, Ltd.
       7.000%, 05/07/2020 (S) 16,796,000 18,433,610
CF Industries, Inc.
       7.125%, 05/01/2020 7,216,000 8,707,251
Gerdau Trade, Inc.
       4.750%, 04/15/2023 (S) 6,050,000 5,777,750
Glencore Finance Canada, Ltd.
       3.600%, 01/15/2017 (S) 20,219,000 21,024,060
       4.250%, 10/25/2022 (S) 8,837,000 8,858,244
Glencore Funding LLC
       4.125%, 05/30/2023 (S) 15,287,000 15,133,595
Incitec Pivot Finance LLC
       6.000%, 12/10/2019 (S) 9,309,000 10,468,901
Methanex Corp.
       5.250%, 03/01/2022 10,058,000 11,057,272
MMC Norilsk Nickel OJSC
       5.550%, 10/28/2020 (S) 6,335,000 6,287,488
  105,748,171
Telecommunication services - 1.2%
GTP Acquisition Partners I LLC
       2.364%, 05/15/2018 (S) 14,377,000 14,178,626
SBA Tower Trust
       2.933%, 12/15/2017 (S) 15,375,000 15,592,864
       3.598%, 04/15/2018 (S) 10,500,000 10,498,467
       5.101%, 04/17/2017 (S) 12,221,000 12,930,001
Telecom Italia Capital SA
       6.999%, 06/04/2018 7,525,000 8,465,625
       7.200%, 07/18/2036 8,219,000 8,794,330
Telefonica Emisiones SAU
       6.421%, 06/20/2016 18,661,000 20,279,506
Verizon Communications, Inc.
       3.450%, 03/15/2021 13,065,000 13,261,837
       5.012%, 08/21/2054 (S) 9,736,000 9,782,217
       6.550%, 09/15/2043 9,705,000 12,125,349
  125,908,822
Utilities - 1.4%
Beaver Valley II Funding Corp.
       9.000%, 06/01/2017 1,241,000 1,315,505
Commonwealth Edison Company
       2.150%, 01/15/2019 9,743,000 9,787,876
Connecticut Light & Power Company
       4.300%, 04/15/2044 7,820,000 7,999,477
Constellation Energy Group, Inc.
       5.150%, 12/01/2020 11,124,000 12,319,263
Electricite de France SA (5.250% to
       01/29/2023, then 10 Year U.S. Swap
       Rate + 3.709%)
       01/29/2023 (Q)(S) 19,005,000 19,313,831
Entergy Texas, Inc.
       7.125%, 02/01/2019 20,348,000 24,300,599
Integrys Energy Group, Inc. (6.110% to
       12/01/2016, then 3 month LIBOR + 2.120%)
       12/01/2066 19,032,000 19,408,834
NextEra Energy Capital Holdings, Inc.
       2.400%, 09/15/2019 9,565,000 9,506,118
NextEra Energy Capital Holdings, Inc.
       (6.650% to 06/15/2017, then 3 month
       LIBOR + 2.125%)
       06/15/2067 5,187,000 5,316,675
Oncor Electric Delivery Company LLC
       5.000%, 09/30/2017 5,788,000 6,360,427
PNPP II Funding Corp.
       9.120%, 05/30/2016 316,000 325,409
Southern California Edison Company (6.250%
       to 02/01/2022, then 3 month
       LIBOR + 4.199%)
       02/01/2022 (Q) 8,100,000 8,901,900
W3A Funding Corp.
       8.090%, 01/02/2017 66,205 66,205
Wisconsin Energy Corp. (6.250% to
       05/15/2017, then 3 month LIBOR + 2.113%)
       05/15/2067 16,769,000 17,355,915
  142,278,034
TOTAL CORPORATE BONDS (Cost $3,364,506,290) $ 3,386,231,037
           
CAPITAL PREFERRED SECURITIES - 0.7%
Financials - 0.7%
Allfirst Preferred Capital Trust
       1.734%, 07/15/2029 (P) 55,000 50,050

The accompanying notes are an integral part of the financial statements. 37


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Bond Trust (continued)

Shares or
Principal
Amount       Value
CAPITAL PREFERRED SECURITIES (continued)    
Financials (continued)
MetLife Capital Trust IV (7.875% to
       12/15/2032, then 3 month LIBOR + 3.960%)
       12/15/2037 (S) $ 3,265,000 $ 4,179,200
MetLife Capital Trust X
       9.250%, 04/08/2038 (S) 7,470,000 10,775,475
State Street Capital Trust IV  
       1.234%, 06/15/2037 (P) 20,483,000 17,461,758
The PNC Financial Services Group, Inc.
       (6.750% to 08/01/2021, then 3 month  
       LIBOR + 3.678%)
       08/01/2021 (Q) 4,626,000 5,111,730
ZFS Finance USA Trust II (6.450% to  
       06/15/2016, then 3 month LIBOR + 2.000%)    
       12/15/2065 (S) 26,670,000   28,536,900
ZFS Finance USA Trust V (6.500% to
       05/09/2017, then 3 month LIBOR + 2.285%)
       6.500%, 05/09/2037 (S) 7,350,000 7,901,250
74,016,363
TOTAL CAPITAL PREFERRED
SECURITIES (Cost $69,587,157) $ 74,016,363
 
TERM LOANS (M) - 0.1%
Energy - 0.1%
Paragon Offshore Finance Company
       3.750%, 07/18/2021 5,930,000 5,589,025
TOTAL TERM LOANS (Cost $5,900,505) $ 5,589,025
 
COLLATERALIZED MORTGAGE
OBLIGATIONS - 2.1%
Commercial and residential - 0.0%
Commercial Mortgage Pass Through
       Certificates, Series 2013-CR13, Class C
       4.915%, 12/10/2023 (P) 10,000 10,348
Wachovia Bank Commercial Mortgage Trust,
       Series 2007-C31, Class AM
       5.591%, 04/15/2047 (P) 200,000 217,334
U.S. government agency - 2.1%
Federal Home Loan Mortgage Corp.
       Series 288, Class IO, 3.000%, 10/15/2027 1,483,745 178,209
       Series 290, Class IO, 3.500%, 11/15/2032 1,691,346 327,466
       Series 3609, Class LI IO,
              4.500%, 12/15/2024 9,986,072 689,030
       Series 3699, Class MI IO,
              4.500%, 01/15/2038 17,925,818 1,471,075
       Series 3714, Class KI IO,
              4.500%, 11/15/2039 12,288,218 1,920,548
       Series 3738, Class IC IO,
              4.000%, 08/15/2029 5,711,636 568,948
       Series 3738, Class MI IO,
              4.000%, 09/15/2034 10,540,194 335,159
       Series 3747, Class HI IO,
              4.500%, 07/15/2037 47,045,195 5,010,280
       Series 3794, Class PI IO,
              4.500%, 02/15/2038 12,872,581 1,437,235
       Series 3830, Class NI IO,
              4.500%, 01/15/2036 1,065,543 105,979
       Series 3833, Class LI IO,
              1.811%, 10/15/2040 67,881,286 5,219,066
       Series 3927, Class IP IO,
              4.500%, 06/15/2040 13,722,975 2,054,800
       Series 3934, Class PI IO,
              4.500%, 07/15/2041 20,440,822 3,597,180
       Series 3943, Class DI IO,
              4.000%, 11/15/2039 33,386,912 4,526,588
       Series 3972, Class PL IO,
              3.500%, 11/15/2031 9,637,717 1,395,265
       Series 4030, Class BI IO,
              5.000%, 01/15/2042 16,832,351 3,646,273
       Series 4077, Class IK IO,
              5.000%, 07/15/2042 23,227,146 5,185,300
       Series 4136, Class IH IO,
              3.500%, 09/15/2027 1,245,957 165,650
       Series K017, Class X1 IO,
              1.585%, 12/25/2021 106,110,018 8,642,237
       Series K018, Class X1 IO,
              1.592%, 01/25/2022 117,192,797 9,608,637
       Series K021, Class X1 IO,
              1.641%, 06/25/2022 24,113,149 2,209,440
       Series K022, Class X1 IO,
              1.426%, 07/25/2022 231,919,497 18,446,181
       Series K026, Class X1 IO,
              1.174%, 11/25/2022 173,543,625 11,739,879
       Series K038, Class X1 IO,
              1.203%, 03/25/2024 249,268,453 22,088,176
       Series K707, Class X1 IO,
              1.687%, 12/25/2018 122,707,504 6,937,146
       Series K709, Class X1 IO,
              1.670%, 03/25/2019 96,802,195 5,699,036
       Series K710, Class X1 IO,
              1.910%, 05/25/2019 74,047,754 5,161,425
       Series K711, Class X1 IO,
              1.830%, 07/25/2019 66,639,264 4,532,336
Federal National Mortgage Association
       Series 2010-13, Class KI IO,
              5.000%, 12/25/2018 4,394,959 296,120
       Series 2010-45, Class AI IO,
              5.000%, 02/25/2021 9,346,116 713,994
       Series 2009-50, Class GI IO,
              5.000%, 05/25/2039 4,851,481 834,672
       Series 2010-14, Class IA IO,
              4.000%, 08/25/2027 1,053,094 13,048
       Series 2010-68, Class CI IO,
              5.000%, 11/25/2038 16,142,312 2,533,578
       Series 2010-93, Class AI IO,
              4.000%, 08/25/2020 3,873,846 303,657
       Series 2011-73, Class PI IO,
              4.500%, 05/25/2041 10,216,716 1,599,024
       Series 2012-118, Class IB IO,
              3.500%, 11/25/2042 40,674,149 8,897,653
       Series 2012-118, Class IC IO,
              3.500%, 11/25/2042 39,662,469 7,976,368
       Series 2012-137, Class WI IO,
              3.500%, 12/25/2032 1,009,121 184,204
       Series 2012-21, Class IQ IO,
              4.500%, 09/25/2041 34,691,655 6,992,755
       Series 2012-61, Class KI IO,
              4.000%, 12/25/2041 25,429,854 4,976,274
       Series 366, Class 24 IO,
              5.000%, 10/25/2035 4,384,640 355,037
       Series 402, Class 3 IO, 4.000%, 11/25/2039 4,493,959 917,120
       Series 402, Class 4 IO, 4.000%, 10/25/2039 6,109,218 1,195,888
       Series 402, Class 7 IO, 4.500%, 11/25/2039 8,431,157 1,750,752
       Series 402, Class 8 IO, 4.500%, 11/25/2039 8,329,231 1,623,676

The accompanying notes are an integral part of the financial statements. 38


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Bond Trust (continued)

Shares or
Principal
Amount       Value
COLLATERALIZED MORTGAGE
OBLIGATIONS (continued)
U.S. government agency (continued)
Federal National Mortgage
Association (continued)
       Series 407, Class 15 IO,
              5.000%, 01/25/2040 $ 13,916,800 $ 2,774,089
       Series 407, Class 21 IO,
              5.000%, 01/25/2039 6,744,354 1,085,160
       Series 407, Class 7 IO, 5.000%, 03/25/2041 11,794,754 2,685,143
       Series 407, Class 8 IO, 5.000%, 03/25/2041 5,605,837 1,240,013
       Series 407, Class C6 IO,  
              5.500%, 01/25/2040 24,606,907 5,674,709
Government National Mortgage Association
       Series 2009-40, Class BI IO,  
              4.500%, 09/20/2036 16,652,132 1,183,257
       Series 2009-123, Class DI, IO,
              4.500%, 07/20/2037 5,018,461 391,818
       Series 2012-114, Class IO,
              1.031%, 01/16/2053 56,036,250 4,822,424
       Series 2013-42, Class IO,
              3.500%, 03/20/2043 27,577,664 4,074,192
       Series 2013-6, Class AI IO,
              3.500%, 08/20/2039 61,261,928 10,428,263
208,421,432
TOTAL COLLATERALIZED MORTGAGE
OBLIGATIONS (Cost $213,477,661) $ 208,649,114
 
ASSET BACKED SECURITIES - 3.0%
Ally Auto Receivables Trust, Series 2014-2,
       Class A4 1.840%, 01/15/2020 26,890,000 26,888,118
Ally Master Owner Trust, Series 2012-4,
       Class A 1.720%, 07/15/2019 8,340,000 8,366,304
American Express Credit Account
       Master Trust, Series 2014-1, Class A4
       1.490%, 04/15/2020 27,340,000 27,339,798
CarMax Auto Owner Trust, Series 2014-3,
       Class A3 1.160%, 06/17/2019 24,080,000 24,030,732
Chase Issuance Trust, Series 2014-A6, Class A
       1.260%, 07/15/2019 20,244,000 20,170,251
Chrysler Capital Auto Receivables Trust,
       Series 2014-BA, Class A4
       1.760%, 12/16/2019 (S) 6,855,000 6,853,134
Citibank Credit Card Issuance Trust
       Series 2007-A8, Class A8,
              5.650%, 09/20/2019 13,430,000 15,034,173
       Series 2014-A8, Class A8,
              1.730%, 04/09/2020 34,175,000 34,171,302
Ford Credit Floorplan Master Owner Trust
       Series 2012-5, Class A, 1.490%, 09/15/2019 16,210,000 16,133,700
       Series 2014-4, Class A1,
              1.400%, 08/15/2019 35,155,000 34,975,006
GE Equipment Midticket LLC, Series 2014-1,
       Class A4 1.590%, 08/22/2023 7,685,000 7,672,988
Honda Auto Receivables Owner Trust,
       Series 2014-3, Class A4
       1.310%, 10/15/2020 19,220,000 19,071,180
John Deere Owner Trust, Series 2014-B,
       Class A4 1.500%, 06/15/2021 20,515,000 20,432,776
MVW Owner Trust, Series 2014-1A, Class A
       2.250%, 09/20/2031 (S) 5,545,000 5,543,428
Porsche Innovative Lease Owner Trust,
       Series 2014-1, Class A4
       1.260%, 09/21/2020 (S) 16,045,000 16,044,448
Volkswagen Credit Auto Master Trust,
       Series 2014-1A, Class A2
       1.400%, 07/22/2019 (S) 16,400,000 16,332,530
World Omni Automobile Lease
       Securitization Trust, Series 2014-A,
       Class A4 1.370%, 01/15/2020 6,445,000 6,438,574
TOTAL ASSET BACKED SECURITIES (Cost $306,332,835) $ 305,498,442
 
PREFERRED SECURITIES - 0.1%
Financials - 0.1%
The PNC Financial Services Group, Inc.
       (6.125% to 05/01/2022, then 3 month
       LIBOR + 4.067%)
391,400 10,689,134
TOTAL PREFERRED SECURITIES (Cost $9,785,000) $ 10,689,134
 
SECURITIES LENDING COLLATERAL - 0.3%
John Hancock Collateral
       Investment Trust, 0.1178% (W)(Y) 3,580,433 35,829,752
TOTAL SECURITIES LENDING
COLLATERAL (Cost $35,829,553) $ 35,829,752
 
SHORT-TERM INVESTMENTS - 1.0%
Repurchase agreement - 1.0%
Barclays Tri-Party Repurchase Agreement
       dated 09/30/2014 at 0.000% to be
       repurchased at $80,986,000 on 10/01/2014,
       collateralized by $75,046,000 Treasury
       Inflation Index Bonds, 1.375% due
       02/15/2044 (valued at $82,605,792,
       including interest) 80,986,000 80,986,000
Repurchase Agreement with State Street Corp.
       dated 09/30/2014 at 0.000% to be
       repurchased at $23,541,000 on 10/01/2014,
       collateralized by $16,915,000 U.S. Treasury
       Notes, 1.250% - 1.500% due 10/31/2018 to
       01/31/2019 (valued at $16,805,594,
       including interest), and $7,145,000 Federal
       Home Loan Mortgage Corporation, 1.680%
       due 11/19/2018 (valued at $7,207,519,
       including interest) 23,541,000 23,541,000
  104,527,000
TOTAL SHORT-TERM INVESTMENTS (Cost $104,527,000) $ 104,527,000
Total Investments (Bond Trust) (Cost $10,003,563,518) - 99.6% $ 10,078,965,937
Other assets and liabilities, net - 0.4% 42,162,842
TOTAL NET ASSETS - 100.0% $ 10,121,128,779

Bond PS Series

Shares or
Principal
Amount       Value
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS - 57.5%  
U.S. government - 25.7%  
U.S. Treasury Bonds      
       3.125%, 11/15/2041 to 02/15/2042 $ 3,360,000 $ 3,332,005
       3.375%, 05/15/2044 4,580,000 4,728,850

The accompanying notes are an integral part of the financial statements. 39


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Bond PS Series (continued)

Shares or
Principal
Amount       Value
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS (continued)
U.S. government (continued)
U.S. Treasury Notes
       0.625%, 04/30/2018 $ 1,400,000 $ 1,363,250
       0.875%, 06/15/2017 to 07/15/2017 11,100,000 11,072,306
       1.000%, 06/30/2019 4,871,000 4,703,559
       1.250%, 10/31/2018 to 11/30/2018 8,604,900 8,494,495
       1.625%, 04/30/2019 130,000 129,543
       2.375%, 08/15/2024 10,410,000 10,292,888
       2.625%, 04/30/2018 1,555,000 1,623,516
    45,740,412
U.S. government agency - 31.8%
Federal Farm Credit Banks  
       0.780%, 04/03/2017 265,000 264,199
       1.740%, 03/11/2020 910,000 888,340
       2.350%, 03/14/2022 410,000 399,420
       2.500%, 06/20/2022 282,000 274,212
       2.920%, 12/13/2027 84,000 78,547
Federal Home Loan Banks
       0.750%, 11/28/2016 815,000 813,456
       1.000%, 04/28/2017 555,000 554,345
       2.900%, 09/05/2025 128,571 123,293
       3.170%, 10/04/2027 130,000 124,027
       3.250%, 06/21/2027 175,758 172,036
Federal Home Loan Mortgage Corp.  
       0.750%, 10/28/2016 815,000 813,428
       0.800%, 12/30/2016 915,000 913,961
       1.150%, 07/28/2017 1,300,000 1,298,967
       1.250%, 08/21/2017 to 03/13/2018 2,629,000 2,618,551
       1.750%, 05/30/2019 439,000 437,766
       2.559%, 06/01/2044 (P) 319,985 327,712
       2.601%, 06/01/2044 (P) 260,355 266,976
       2.621%, 01/01/2044 (P) 1,077,993 1,107,142
       2.632%, 11/01/2041 (P) 194,383 202,240
       2.697%, 05/01/2044 (P) 344,898 354,715
       3.000%, 03/01/2043 301,423 300,022
       3.032%, 03/01/2044 (P) 313,487 323,774
       3.500%, 02/01/2026 to 09/01/2043 3,487,336 3,582,646
       4.000%, 11/01/2041 to 11/01/2043 1,335,796 1,409,085
       4.500%, 10/01/2040 to 08/01/2041 2,525,141 2,740,700
       5.000%, 04/01/2041 151,958 167,670
       5.500%, 07/01/2037 to 10/01/2039 1,701,169 1,895,479
       6.500%, 12/01/2036 to 09/01/2039 254,376 286,359
Federal National Mortgage Association
       1.500%, 05/25/2018 425,000 423,146
       1.600%, 01/30/2020 1,080,000 1,045,874
       1.906%, 08/01/2042 (P) 516,560 530,393
       2.487%, 02/01/2042 (P) 118,034 122,710
       2.500%, 03/27/2023 703,000 686,171
       2.908%, 01/01/2044 (P) 168,716 173,972
       2.910%, 03/01/2044 (P) 282,775 291,452
       2.954%, 02/01/2042 (P) 83,609 87,135
       3.000%, 07/01/2027 to 04/01/2043 3,756,850 3,707,781
       3.250%, 07/26/2032 75,000 69,274
       3.400%, 09/27/2032 480,000 453,938
       3.500%, 11/01/2025 to 04/01/2043 2,935,080 3,056,538
       3.911%, 02/01/2040 (P) 106,711 113,813
       4.000%, 02/01/2026 to 11/01/2043 7,732,673 8,191,386
       4.500%, 09/01/2039 to 02/01/2042 4,572,403 4,949,060
       5.000%, 04/01/2035 to 02/01/2042 7,388,261 8,176,979
       5.500%, 02/01/2035 to 01/01/2039 576,965 645,502
       6.000%, 01/01/2037 to 06/01/2040 689,979 778,846
       6.500%, 10/01/2037 to 11/01/2037 163,011 183,814
Government National Mortgage Association
       4.000%, 05/15/2041 159,422 169,409
  56,596,261
TOTAL U.S. GOVERNMENT AND AGENCY
OBLIGATIONS (Cost $101,852,014) $ 102,336,673
 
CORPORATE BONDS - 33.8%
Consumer discretionary - 2.6%
21st Century Fox America, Inc.
       6.150%, 03/01/2037 66,000 78,512
       6.400%, 12/15/2035 34,000 42,153
Bed Bath & Beyond, Inc.
       3.749%, 08/01/2024 115,000 114,058
       5.165%, 08/01/2044 115,000 112,603
BorgWarner, Inc.
       4.625%, 09/15/2020 99,000 106,247
Brinker International, Inc.
       2.600%, 05/15/2018 105,000 104,961
Delphi Corp.
       5.000%, 02/15/2023 520,000 556,400
DIRECTV Holdings LLC
       5.875%, 10/01/2019 382,000 437,872
Ford Motor Company
       4.750%, 01/15/2043 90,000 90,075
Ford Motor Credit Company LLC
       5.875%, 08/02/2021 905,000 1,040,805
       8.000%, 12/15/2016 200,000 227,476
Macy’s Retail Holdings, Inc.
       7.875%, 08/15/2036 143,000 157,433
Nissan Motor Acceptance Corp.
       1.950%, 09/12/2017 (S) 252,000 254,552
QVC, Inc.
       4.375%, 03/15/2023 97,000 96,800
       5.125%, 07/02/2022 172,000 180,743
       5.450%, 08/15/2034 (S) 205,000 201,351
Sirius XM Radio, Inc.
       5.250%, 08/15/2022 (S) 565,000 589,013
Time Warner Cable, Inc.
       8.250%, 04/01/2019 256,000 318,050
  4,709,104
Consumer staples - 1.3%
Beam, Inc.
       1.750%, 06/15/2018 312,000 306,736
Bunge, Ltd. Finance Corp.
       8.500%, 06/15/2019 422,000 524,178
Pernod-Ricard SA
       5.750%, 04/07/2021 (S) 310,000 353,118
Safeway, Inc.
       4.750%, 12/01/2021 40,000 40,350
       5.000%, 08/15/2019 269,000 269,640
The Kroger Company
       6.400%, 08/15/2017 409,000 462,354
Tyson Foods, Inc.
       3.950%, 08/15/2024 175,000 175,356
Wm Wrigley Jr. Company
       1.400%, 10/21/2016 (S) 133,000 133,653
  2,265,385
Energy - 3.8%
Anadarko Petroleum Corp.
       8.700%, 03/15/2019 251,000 315,750

The accompanying notes are an integral part of the financial statements. 40


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Bond PS Series (continued)

Shares or
Principal
Amount		       Value
CORPORATE BONDS (continued)
Energy (continued)
Boardwalk Pipelines LP
       5.500%, 02/01/2017 $ 66,000 $ 70,998
CenterPoint Energy Resources Corp.
       6.125%, 11/01/2017 150,000 170,268
CNOOC Finance 2013, Ltd.
       3.000%, 05/09/2023 280,000 260,269
Continental Resources, Inc.
       5.000%, 09/15/2022 528,000 557,040
DCP Midstream LLC
       9.750%, 03/15/2019 (S) 243,000 311,221
DCP Midstream Operating LP
       2.500%, 12/01/2017 197,000 201,027
       3.875%, 03/15/2023 71,000 71,105
Energy Transfer Partners LP
       5.200%, 02/01/2022 153,000 164,081
       9.700%, 03/15/2019 103,000 131,827
Enterprise Products Operating LLC
       6.500%, 01/31/2019 557,000 652,649
       6.650%, 04/15/2018 56,000 64,978
Enterprise Products Operating LLC (8.375% to
       08/01/2016, then 3 month LIBOR + 3.708%)
       08/01/2066 281,000 309,100
Kerr-McGee Corp.
       6.950%, 07/01/2024 214,000 269,367
Kinder Morgan Energy Partners LP
       7.750%, 03/15/2032 101,000 126,754
Lukoil International Finance BV
       3.416%, 04/24/2018 (S) 330,000 308,963
Northwest Pipeline LLC
       6.050%, 06/15/2018 399,000 451,723
ONEOK Partners LP
       3.200%, 09/15/2018 335,000 347,267
Petrobras International Finance Company
       5.375%, 01/27/2021 150,000 151,485
Petroleos Mexicanos
       4.875%, 01/24/2022 224,000 238,000
Plains All American Pipeline LP
       3.600%, 11/01/2024 175,000 171,802
Plains Exploration & Production Company
       6.750%, 02/01/2022 420,000 465,150
       6.875%, 02/15/2023 79,000 89,665
Rowan Companies, Inc.
       4.875%, 06/01/2022 187,000 194,312
Suncor Energy, Inc.
       6.100%, 06/01/2018 299,000 341,799
TransCanada PipeLines, Ltd. (6.350% to
       05/15/2017, then 3 month LIBOR + 2.210%)
       05/15/2067 233,000 240,573
6,677,173
Financials - 17.8%
American International Group, Inc.
       4.125%, 02/15/2024 174,000 180,793
American International Group, Inc. (8.175% to
       05/15/2038, then 3 month LIBOR + 4.195%)
       05/15/2058 30,000 40,425
American Tower Corp.
       3.400%, 02/15/2019 163,000 166,565
       4.700%, 03/15/2022 201,000 210,456
ARC Properties Operating Partnership LP
       2.000%, 02/06/2017 (S) 400,000 399,804
       4.600%, 02/06/2024 (S) 424,000 431,752
Assured Guaranty US Holdings, Inc.
       5.000%, 07/01/2024 (L) 300,000 303,221
AXA SA
       8.600%, 12/15/2030 94,000 126,430
AXA SA (6.379% to 12/14/2036, then
       3 month LIBOR + 2.256%)
       12/14/2036 (Q)(S) 131,000 140,825
Bank of America Corp.
       3.300%, 01/11/2023 243,000 237,064
       4.200%, 08/26/2024 175,000 173,259
       5.000%, 05/13/2021 345,000 378,942
       6.875%, 04/25/2018 371,000 427,980
Barclays Bank PLC
       6.050%, 12/04/2017 (S) 420,000 466,893
       10.179%, 06/12/2021 (S) 305,000 414,746
BioMed Realty LP
       2.625%, 05/01/2019 260,000 258,353
       6.125%, 04/15/2020 20,000 22,928
BNP Paribas SA
       2.375%, 09/14/2017 535,000 544,544
Boston Properties LP
       3.700%, 11/15/2018 70,000 74,097
BPCE SA
       1.625%, 02/10/2017 454,000 455,868
       4.500%, 03/15/2025 (S) 300,000 291,364
       5.700%, 10/22/2023 (S) 356,000 378,681
Capital One Bank USA NA
       1.300%, 06/05/2017 205,000 203,923
Capital One Financial Corp.
       4.750%, 07/15/2021 210,000 228,306
Citigroup, Inc.
       3.750%, 06/16/2024 245,000 244,118
       3.875%, 10/25/2023 236,000 238,803
       4.500%, 01/14/2022 332,000 356,046
       6.125%, 08/25/2036 330,000 378,367
CNA Financial Corp.
       7.250%, 11/15/2023 155,000 190,966
Crown Castle Towers LLC
       4.883%, 08/15/2020 (S) 444,000 489,486
       6.113%, 01/15/2020 (S) 217,000 251,052
Discover Bank
       7.000%, 04/15/2020 140,000 165,667
       8.700%, 11/18/2019 250,000 312,183
Discover Financial Services
       5.200%, 04/27/2022 289,000 316,493
Doric Nimrod Air Alpha 2013-1
       Pass Through Trust
       5.250%, 05/30/2023 (S) 277,526 292,096
       6.125%, 11/30/2019 (S) 185,656 196,795
Doric Nimrod Air Finance Alpha, Ltd. 2012-1
       Class A Pass Through
       5.125%, 11/30/2022 (S) 190,415 201,913
Fifth Third Bank
       2.375%, 04/25/2019 665,000 666,073
FS Investment Corp.
       4.000%, 07/15/2019 275,000 274,786
General Electric Capital Corp.
       4.375%, 09/16/2020 165,000 180,423
       5.550%, 05/04/2020 461,000 527,587
Goodman Funding Pty, Ltd.
       6.375%, 04/15/2021 (S) 255,000 297,090
HBOS PLC
       6.000%, 11/01/2033 (S) 125,000 138,750
       6.750%, 05/21/2018 (S) 554,000 626,760

The accompanying notes are an integral part of the financial statements. 41


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Bond PS Series (continued)

Shares or
Principal
Amount		       Value
CORPORATE BONDS (continued)
Financials (continued)
HCP, Inc.
       5.375%, 02/01/2021 $ 157,000 $ 175,227
       5.625%, 05/01/2017 170,000 187,037
Health Care REIT, Inc.
       4.125%, 04/01/2019 196,000 208,849
       4.950%, 01/15/2021 42,000 46,216
Highwoods Realty LP
       5.850%, 03/15/2017 325,000 356,807
Host Hotels & Resorts LP
       5.875%, 06/15/2019 227,000 240,513
ICICI Bank, Ltd.
       4.700%, 02/21/2018 (S) 220,000 232,296
       5.750%, 11/16/2020 (S) 100,000 110,766
ING Bank NV
       5.800%, 09/25/2023 (S) 310,000 341,557
Jefferies Group LLC
       6.875%, 04/15/2021 502,000 584,978
       8.500%, 07/15/2019 287,000 354,620
JPMorgan Chase & Company
       4.250%, 10/15/2020 653,000 696,140
       4.625%, 05/10/2021 730,000 793,794
JPMorgan Chase & Company (6.750% to
       02/01/2024, then 3 month LIBOR + 3.780%)
       02/01/2024 (Q) 530,000 558,885
JPMorgan Chase & Company (7.900% to
       04/30/2018, then 3 month LIBOR + 3.470%)
       04/30/2018 (Q) 258,000 280,059
Leucadia National Corp.
       5.500%, 10/18/2023 339,000 354,357
Lincoln National Corp. (6.050% to
       04/20/2017, then 3 month LIBOR + 2.040%)
       04/20/2067 349,000 356,853
Manufacturers & Traders Trust Company
       (5.585% to 12/28/2015, then 1 month
       LIBOR + 1.215%)
       12/28/2020 248,000 259,139
Manufacturers & Traders Trust Company
       (5.629% to 12/01/2016, then 3 month
       LIBOR + 6.400%)
       12/01/2021 320,000 332,000
MetLife, Inc.
       6.400%, 12/15/2036 181,000 201,815
Mizuho Financial Group Cayman 3, Ltd.
       4.600%, 03/27/2024 (S) 285,000 296,461
Morgan Stanley
       4.100%, 05/22/2023 474,000 472,814
       4.350%, 09/08/2026 60,000 58,989
       5.500%, 01/26/2020 358,000 401,501
       5.550%, 04/27/2017 310,000 339,427
       7.300%, 05/13/2019 518,000 617,971
MUFG Union Bank NA
       2.625%, 09/26/2018 459,000 466,716
Nordea Bank AB
       1.625%, 05/15/2018 (S) 360,000 356,143
Omega Healthcare Investors, Inc.
       4.500%, 01/15/2025 (S) 175,000 172,057
       4.950%, 04/01/2024 (S) 225,000 228,938
Pacific LifeCorp.
       6.000%, 02/10/2020 (S) 158,000 179,968
Prudential Financial, Inc. (5.200% to
       03/15/2024, then 3 month LIBOR + 3.040%)
       03/15/2044 34,000 34,234
Prudential Financial, Inc. (5.875% to
       09/01/2022, then 3 month LIBOR + 4.175%)
       09/15/2042 447,000 473,820
Qwest Corp.
       6.750%, 12/01/2021 506,000 580,194
Rabobank Nederland NV
       3.875%, 02/08/2022 577,000 607,941
Rabobank Nederland NV (11.000% to
       06/30/2019, then 3 month
       LIBOR + 10.868%)
       06/30/2019 (Q)(S) 445,000 588,513
Royal Bank of Scotland Group PLC
       6.400%, 10/21/2019 384,000 446,845
Santander Holdings USA, Inc.
       3.450%, 08/27/2018 176,000 183,532
Stifel Financial Corp.
       4.250%, 07/18/2024 205,000 206,228
Sumitomo Mitsui Banking Corp.
       2.450%, 01/10/2019 315,000 318,406
SunTrust Banks, Inc.
       3.500%, 01/20/2017 217,000 227,610
       7.250%, 03/15/2018 290,000 335,121
Swedbank AB
       2.125%, 09/29/2017 (S) 465,000 469,634
Synchrony Financial
       4.250%, 08/15/2024 240,000 240,100
Teachers Insurance & Annuity Association of
       America
       6.850%, 12/16/2039 (S) 248,000 319,499
The Goldman Sachs Group, Inc.
       5.250%, 07/27/2021 798,000 884,849
       5.750%, 01/24/2022 36,000 40,972
       6.250%, 09/01/2017 414,000 464,558
The Hartford Financial Services Group, Inc.
       5.375%, 03/15/2017 196,000 214,047
The PNC Financial Services Group, Inc.
       4.454%, 12/01/2014 (P)(Q) 83,000 83,000
The PNC Financial Services Group, Inc.
       (4.850% to 06/01/2023, then 3 month
       LIBOR + 3.040%)
       06/01/2023 (Q) 96,000 90,960
Unum Group
       5.625%, 09/15/2020 51,000 58,048
Ventas Realty LP
       3.750%, 05/01/2024 100,000 98,382
       4.750%, 06/01/2021 293,000 319,061
Wells Fargo & Company (5.900% to
       06/15/2024, then 3 month LIBOR + 3.110%)
       06/15/2024 (Q) 435,000 443,156
Wells Fargo & Company, Series K (7.980% to
       03/15/2018, then 3 month LIBOR + 3.770%)
       03/15/2018 (Q) 424,000 463,983
Wells Fargo Bank NA
       5.850%, 02/01/2037 250,000 307,127
31,665,386
Health care - 1.7%
Aetna, Inc.
       1.500%, 11/15/2017 510,000 507,974
Express Scripts Holding Company
       2.650%, 02/15/2017 244,000 250,923
Medco Health Solutions, Inc.
       7.125%, 03/15/2018 306,000 356,322

The accompanying notes are an integral part of the financial statements. 42


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Bond PS Series (continued)

Shares or
Principal
Amount		       Value
CORPORATE BONDS (continued)
Health care (continued)
Mylan, Inc.
       1.350%, 11/29/2016 $ 364,000 $ 363,926
       7.875%, 07/15/2020 (S) 524,000 568,524
Quest Diagnostics, Inc.
       2.700%, 04/01/2019 280,000 281,455
       4.250%, 04/01/2024 240,000 243,972
WellPoint, Inc.
       7.000%, 02/15/2019 304,000 362,268
2,935,364
Industrials - 2.6%
Air Lease Corp.
       3.375%, 01/15/2019 230,000 232,875
       3.875%, 04/01/2021 135,000 136,350
       4.750%, 03/01/2020 73,000 77,380
       5.625%, 04/01/2017 56,000 60,410
American Airlines 2013-2 Class A Pass
       Through Trust
       4.950%, 01/15/2023 188,794 202,481
British Airways PLC 2013-1 Class A Pass
       Through Trust
       4.625%, 06/20/2024 (S) 333,221 351,548
British Airways PLC 2013-1 Class B Pass
       Through Trust
       5.625%, 06/20/2020 (S) 115,852 123,382
Continental Airlines 1997-4 Class A Pass
       Through Trust
       6.900%, 01/02/2018 26,508 28,130
Continental Airlines 1999-1 Class A Pass
       Through Trust
       6.545%, 02/02/2019 41,830 46,381
Continental Airlines 2007-1 Class A Pass
       Through Trust
       5.983%, 04/19/2022 204,788 227,315
Continental Airlines 2012-2 Class B Pass
       Through Trust
       5.500%, 10/29/2020 709,522 748,545
Delta Air Lines 2007-1 Class A Pass
       Through Trust
       6.821%, 08/10/2022 276,778 322,446
Delta Air Lines 2010-1 Class A Pass
       Through Trust
       6.200%, 07/02/2018 18,603 20,621
Delta Air Lines 2011-1 Class A Pass
       Through Trust
       5.300%, 04/15/2019 59,907 65,449
Embraer Overseas, Ltd.
       5.696%, 09/16/2023 (S) 187,000 199,623
International Lease Finance Corp.
       7.125%, 09/01/2018 (S) 96,000 108,000
L-3 Communications Corp.
       3.950%, 05/28/2024 265,000 263,011
Odebrecht Finance, Ltd.
       7.125%, 06/26/2042 (S) 200,000 214,200
Penske Truck Leasing Company LP
       2.875%, 07/17/2018 (S) 226,000 231,293
Ryder System, Inc.
       3.500%, 06/01/2017 183,000 192,123
Textron, Inc.
       5.600%, 12/01/2017 56,000 62,188
       7.250%, 10/01/2019 55,000 65,655
Trinity Industries, Inc.
       4.550%, 10/01/2024 220,000 219,923
UAL 2009-2A Pass Through Trust
       9.750%, 01/15/2017 110,085 124,396
United Airlines 2014-2 Class A Pass
       Through Trust
       3.750%, 09/03/2026 280,000 283,500
US Airways 2012-1 Class A Pass
       Through Trust
       5.900%, 10/01/2024 35,230 39,457
4,646,682
Information technology - 0.3%
Xerox Corp.
       5.625%, 12/15/2019 307,000 347,008
       6.750%, 02/01/2017 176,000 196,983
543,991
Materials - 1.2%
Braskem Finance, Ltd.
       7.000%, 05/07/2020 (S) 294,000 322,665
CF Industries, Inc.
       7.125%, 05/01/2020 149,000 179,792
Gerdau Trade, Inc.
       4.750%, 04/15/2023 (S) 200,000 191,000
Glencore Finance Canada, Ltd.
       3.600%, 01/15/2017 (S) 361,000 375,374
       4.250%, 10/25/2022 (S) 238,000 238,572
Glencore Funding LLC
       4.125%, 05/30/2023 (S) 368,000 364,307
Incitec Pivot Finance LLC
       6.000%, 12/10/2019 (S) 151,000 169,815
Methanex Corp.
       5.250%, 03/01/2022 107,000 117,631
MMC Norilsk Nickel OJSC
       5.550%, 10/28/2020 (S) 210,000 208,425
2,167,581
Telecommunication services - 1.2%
GTP Acquisition Partners I LLC
       2.364%, 05/15/2018 (S) 163,000 160,751
SBA Tower Trust
       2.933%, 12/15/2017 (S) 255,000 258,613
       3.598%, 04/15/2018 (S) 120,000 119,982
       5.101%, 04/17/2017 (S) 142,000 150,238
Telecom Italia Capital SA
       6.999%, 06/04/2018 105,000 118,125
       7.200%, 07/18/2036 56,000 59,920
Telefonica Emisiones SAU
       6.421%, 06/20/2016 529,000 574,881
Verizon Communications, Inc.
       3.450%, 03/15/2021 280,000 284,218
       5.012%, 08/21/2054 (S) 215,000 216,021
       6.550%, 09/15/2043 216,000 269,869
2,212,618
Utilities - 1.3%
Commonwealth Edison Company
       2.150%, 01/15/2019 187,000 187,861
Connecticut Light & Power Company
       4.300%, 04/15/2044 180,000 184,131
Constellation Energy Group, Inc.
       5.150%, 12/01/2020 96,000 106,315
Electricite de France SA (5.250% to
       01/29/2023, then 10 Year Swap
       Rate +3.709%)
       01/29/2023 (Q)(S) 315,000 320,119

The accompanying notes are an integral part of the financial statements. 43


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Bond PS Series (continued)

Shares or
Principal
Amount		       Value
CORPORATE BONDS (continued)
Utilities (continued)
Entergy Texas, Inc.
       7.125%, 02/01/2019 $ 302,000 $ 360,664
Integrys Energy Group, Inc. (6.110% to
       12/01/2016, then 3 month LIBOR + 2.120%)
       12/01/2066 198,000 201,920
NextEra Energy Capital Holdings, Inc.
       2.400%, 09/15/2019 195,000 193,800
NextEra Energy Capital Holdings, Inc.
       (6.650% to 06/15/2017, then 3 month
       LIBOR + 2.125%)
       06/15/2067 58,000 59,450
Oncor Electric Delivery Company LLC
       5.000%, 09/30/2017 112,000 123,077
PNPP II Funding Corp.
       9.120%, 05/30/2016 13,000 13,387
Southern California Edison Company (6.250%
       to 02/01/2022, then 3 month
       LIBOR + 4.199%)
       02/01/2022 (Q) 185,000 203,315
Wisconsin Energy Corp. (6.250% to
       05/15/2017, then 3 month LIBOR + 2.113%)
       05/15/2067 261,000 270,135
2,224,174
TOTAL CORPORATE BONDS (Cost $60,081,536) $ 60,047,458
CAPITAL PREFERRED SECURITIES - 0.8%
Financials - 0.8%
MetLife Capital Trust X
       9.250%, 04/08/2038 (S) 265,000 382,263
State Street Capital Trust IV
       1.234%, 06/15/2037 (P) 332,000 283,030
The PNC Financial Services Group, Inc.
       (6.750% to 08/01/2021, then 3 month
       LIBOR + 3.678%)
       08/01/2021 (Q) 109,000 120,445
ZFS Finance USA Trust II (6.450% to
       06/15/2016, then 3 month LIBOR + 2.000%)
       12/15/2065 (S) 575,000 615,250
1,400,988
TOTAL CAPITAL PREFERRED
SECURITIES (Cost $1,327,902) $ 1,400,988
 
COLLATERALIZED MORTGAGE
OBLIGATIONS - 1.5%
U.S. government agency - 1.5%
Federal Home Loan Mortgage Corp.
       Series 288, Class IO, 3.000%, 10/15/2027 881,911 105,924
       Series 290, Class IO, 3.500%, 11/15/2032 1,005,305 194,640
       Series 3830, Class NI IO,
              4.500%, 01/15/2036 633,339 62,992
       Series 3927, Class IP IO,
              4.500%, 06/15/2040 240,947 36,078
       Series 3934, Class PI IO,
              4.500%, 07/15/2041 261,114 45,951
       Series 3943, Class DI IO,
              4.000%, 11/15/2039 527,716 71,548
       Series 3972, Class PL IO,
              3.500%, 11/15/2031 630,229 91,239
       Series 4030, Class BI IO,
              5.000%, 01/15/2042 126,495 27,402
       Series 4077, Class IK IO,
              5.000%, 07/15/2042 233,022 52,020
       Series 4136, Class IH IO,
              3.500%, 09/15/2027 740,574 98,459
       Series K017, Class X1 IO,
              1.585%, 12/25/2021 1,913,968 155,885
       Series K018, Class X1 IO,
              1.592%, 01/25/2022 806,606 66,134
       Series K021, Class X1 IO,
              1.641%, 06/25/2022 246,424 22,579
       Series K022, Class X1 IO,
              1.426%, 07/25/2022 4,430,395 352,380
       Series K038, Class X1 IO,
              1.203%, 03/25/2024 4,511,556 399,778
       Series K707, Class X1 IO,
              1.687%, 12/25/2018 506,893 28,657
       Series K709, Class X1 IO,
              1.670%, 03/25/2019 790,404 46,533
       Series K710, Class X1 IO,
              1.910%, 05/25/2019 646,553 45,067
       Series K711, Class X1 IO,
              1.830%, 07/25/2019 1,418,294 96,462
Federal National Mortgage Association
       Series 2010-93, Class AI IO,
              4.000%, 08/25/2020 42,946 3,366
       Series 2011-73, Class PL IO,
              4.500%, 05/25/2041 240,591 37,655
       Series 2012-118, Class IB IO,
              3.500%, 11/25/2042 409,283 89,533
       Series 2012-118, Class IC IO,
              3.500%, 11/25/2042 499,071 100,366
       Series 2012-137, Class WI IO,
              3.500%, 12/25/2032 599,804 109,487
       Series 2012-21, Class IQ IO,
              4.500%, 09/25/2041 269,821 54,388
       Series 407, Class C6 IO,
              5.500%, 01/25/2040 390,503 90,056
Government National Mortgage Association
       Series 2012-114, Class IO,
              1.031%, 01/16/2053 579,475 49,869
       Series 2013-42, Class IO,
              3.500%, 03/20/2043 310,421 45,860
       Series 2013-6, Class AI IO,
              3.500%, 08/20/2039 664,333 113,085
2,693,393
TOTAL COLLATERALIZED MORTGAGE
OBLIGATIONS (Cost $2,556,780) $ 2,693,393
 
ASSET BACKED SECURITIES - 2.9%
Ally Auto Receivables Trust, Series 2014-2,
       Class A4
       1.840%, 01/15/2020 470,000 469,967
Ally Master Owner Trust, Series 2012-4,
       Class A
       1.720%, 07/15/2019 150,000 150,473
American Express Credit Account
       Master Trust, Series 2014-1, Class A4
       1.490%, 04/15/2020 470,000 469,997
CarMax Auto Owner Trust, Series 2014-3,
       Class A3
       1.160%, 06/17/2019 425,000 424,130
Chase Issuance Trust, Series 2014-A6, Class A
       1.260%, 07/15/2019 355,000 353,707

The accompanying notes are an integral part of the financial statements. 44


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Bond PS Series (continued)

Shares or
Principal
Amount		       Value
ASSET BACKED SECURITIES (continued)
Chrysler Capital Auto Receivables Trust,
       Series 2014-BA, Class A4
       1.760%, 12/16/2019 (S) $ 120,000 $ 119,967
Citibank Credit Card Issuance Trust
       Series 2007-A8, Class A8,
              5.650%, 09/20/2019 235,000 263,070
       Series 2014-A8, Class A8,
              1.730%, 04/09/2020 590,000 589,936
Ford Credit Floorplan Master Owner Trust
       Series 2012-5, Class A, 1.490%, 09/15/2019 285,000 283,659
       Series 2014-4, Class A1,
              1.400%, 08/15/2019 605,000 601,902
GE Equipment Midticket LLC, Series 2014-1,
       Class A4
       1.590%, 08/22/2023 135,000 134,789
Honda Auto Receivables Owner Trust,
       Series 2014-3, Class A4
       1.310%, 10/15/2020 335,000 332,406
John Deere Owner Trust, Series 2014-B,
       Class A4
       1.500%, 06/15/2021 355,000 353,577
Porsche Innovative Lease Owner Trust,
       Series 2014-1, Class A4
       1.260%, 09/21/2020 (S) 275,000 274,991
Volkswagen Credit Auto Master Trust,
       Series 2014-1A, Class A2
       1.400%, 07/22/2019 (S) 280,000 278,848
World Omni Automobile Lease
       Securitization Trust, Series 2014-A,
       Class A4
       1.370%, 01/15/2020 110,000 109,890
TOTAL ASSET BACKED SECURITIES (Cost $5,225,856) $ 5,211,309
 
SECURITIES LENDING COLLATERAL - 0.2%
John Hancock Collateral
       Investment Trust, 0.1178% (W)(Y) 28,127 $ 281,472
TOTAL SECURITIES LENDING
COLLATERAL (Cost $281,475) $ 281,472
 
SHORT-TERM INVESTMENTS - 2.2%
Repurchase Agreement - 2.2%
Barclays Tri-Party Repurchase Agreement
       dated 09/30/2014 at 0.000% to be
       repurchased at $3,807,000 on 10/01/2014,
       collateralized by $1,515,000 Treasury
       Inflation Indexed Bonds, 3.875% due
       04/15/2029 (valued at $3,148,897,
       including interest) $ 3,087,000 $ 3,087,000
Repurchase Agreement with State Street Corp.
       dated 09/30/2014 at 0.000% to be
       repurchased at $859,000 on 10/01/2014,
       collateralized by $870,000 Federal Home
       Loan Mortgage Corp., 1.680% due
       11/19/2018 (valued at $877,613,
       including interest) 859,000 859,000
3,946,000
TOTAL SHORT-TERM INVESTMENTS (Cost $3,946,000) $ 3,946,000
Total Investments (Bond PS Series)
       (Cost $175,271,563) - 98.9% $ 175,917,293
Other assets and liabilities, net - 1.1% 1,965,635
TOTAL NET ASSETS - 100.0% $ 177,882,928

Capital Appreciation Trust

Shares or
Principal
Amount		       Value
COMMON STOCKS - 99.5%
Consumer discretionary - 27.3%
Automobiles - 1.2%
Tesla Motors, Inc. (I)(L) 52,929 $ 12,844,806
Hotels, restaurants and leisure - 4.8%
Chipotle Mexican Grill, Inc. (I) 21,374 14,247,695
Dunkin’ Brands Group, Inc. 155,227 6,957,274
Marriott International, Inc., Class A 202,906 14,183,129
Starbucks Corp. 200,476 15,127,919
50,516,017
Internet and catalog retail - 7.1%
Amazon.com, Inc. (I) 83,384 26,886,337
Netflix, Inc. (I) 34,540 15,583,757
The Priceline Group, Inc. (I) 18,183 21,066,460
TripAdvisor, Inc. (I) 119,835 10,955,316
74,491,870
Media - 3.5%
The Walt Disney Company 241,044 21,460,147
Twenty-First Century Fox, Inc., Class A 444,259 15,233,641
36,693,788
Specialty retail - 5.1%
Inditex SA 554,319 15,301,255
O’Reilly Automotive, Inc. (I) 69,371 10,430,624
The TJX Companies, Inc. 266,922 15,793,775
Tiffany & Company 125,486 12,085,557
53,611,211
Textiles, apparel and luxury goods - 5.6%
Luxottica Group SpA 200,081 10,399,784
Michael Kors Holdings, Ltd. (I) 123,611 8,824,589
NIKE, Inc., Class B 262,561 23,420,441
Under Armour, Inc., Class A (I)(L) 221,590 15,311,869
57,956,683
286,114,375
Consumer staples - 3.7%
Food and staples retailing - 1.6%
Costco Wholesale Corp. 133,488 16,728,716
Food products - 2.1%
Mead Johnson Nutrition Company 87,666 8,435,223
Mondelez International, Inc., Class A 390,122 13,367,530
21,802,753
38,531,469
Energy - 4.8%
Energy equipment and services - 2.3%
Schlumberger, Ltd. 234,654 23,861,965
Oil, gas and consumable fuels - 2.5%
Concho Resources, Inc. (I) 109,098 13,679,798
EOG Resources, Inc. 131,776 13,048,460
26,728,258
50,590,223
Financials - 2.2%
Capital markets - 1.0%
Morgan Stanley 312,216 10,793,307
Real estate investment trusts - 1.2%
American Tower Corp. 129,325 12,108,700
22,902,007

The accompanying notes are an integral part of the financial statements. 45


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Capital Appreciation Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
Health care - 20.8%
Biotechnology - 10.2%
Alexion Pharmaceuticals, Inc. (I) 105,247 $ 17,452,058
Biogen Idec, Inc. (I) 81,383 26,922,310
Celgene Corp. (I) 236,514 22,416,797
Gilead Sciences, Inc. (I) 192,338 20,474,380
Incyte Corp. (I) 77,756 3,813,932
Vertex Pharmaceuticals, Inc. (I) 136,665 15,348,846
106,428,323
Health care equipment and supplies - 1.6%
Abbott Laboratories 408,684 16,997,168
Life sciences tools and services - 1.7%
Illumina, Inc. (I) 106,483 17,454,693
Pharmaceuticals - 7.3%
Actavis PLC (I) 42,879 10,345,845
Allergan, Inc. 60,991 10,867,986
Bristol-Myers Squibb Company 362,082 18,531,357
Merck & Company, Inc. 267,491 15,856,866
Novo Nordisk A/S, ADR (L) 449,616 21,410,714
77,012,768
217,892,952
Industrials - 6.6%
Aerospace and defense - 3.5%
Precision Castparts Corp. 72,240 17,112,211
The Boeing Company 148,907 18,967,774
36,079,985
Road and rail - 3.1%
Canadian Pacific Railway, Ltd. 78,065 16,196,146
Union Pacific Corp. 150,556 16,323,282
32,519,428
68,599,413
Information technology - 32.3%
Internet software and services - 12.5%
Alibaba Group Holding, Ltd., ADR (I) 103,521 9,197,841
Facebook, Inc., Class A (I) 505,762 39,975,428
Google, Inc., Class A (I) 39,343 23,149,815
Google, Inc., Class C (I) 40,163 23,188,510
LinkedIn Corp., Class A (I) 89,470 18,590,971
Pandora Media, Inc. (I) 114,281 2,761,029
Twitter, Inc. (I) 265,709 13,705,270
130,568,864
IT services - 6.5%
FleetCor Technologies, Inc. (I) 74,710 10,617,785
MasterCard, Inc., Class A 470,629 34,788,896
Visa, Inc., Class A 107,562 22,950,504
68,357,185
Semiconductors and semiconductor equipment - 0.5%
ARM Holdings PLC, ADR 128,982 5,635,224
Software - 7.8%
Adobe Systems, Inc. (I) 192,376 13,310,495
FireEye, Inc. (I)(L) 153,189 4,681,456
Red Hat, Inc. (I) 282,851 15,882,084
Salesforce.com, Inc. (I) 318,873 18,344,764
Splunk, Inc. (I) 161,758 8,954,923
VMware, Inc., Class A (I)(L) 113,273 10,629,538
Workday, Inc., Class A (I)(L) 115,123 9,497,648
81,300,908
Technology hardware, storage and peripherals - 5.0%
Apple, Inc. 521,614 52,552,611
338,414,792
Materials - 1.8%
Chemicals - 1.8%
Monsanto Company 166,507 18,733,703
TOTAL COMMON STOCKS (Cost $713,073,434) $ 1,041,778,934
 
SECURITIES LENDING COLLATERAL - 4.4%
John Hancock Collateral
       Investment Trust, 0.1178% (W)(Y) 4,567,554 45,707,972
TOTAL SECURITIES LENDING
COLLATERAL (Cost $45,707,398) $ 45,707,972
 
SHORT-TERM INVESTMENTS - 0.5%
Repurchase agreement - 0.5%
Repurchase Agreement with State Street Corp.
       dated 09/30/2014 at 0.000% to be
       repurchased at $5,623,000 on 10/01/2014,
       collateralized by $5,750,000 U.S. Treasury
       Notes, 1.375% due 11/30/2018 (valued at
       $5,735,625, including interest) $ 5,623,000 $ 5,623,000
TOTAL SHORT-TERM INVESTMENTS (Cost $5,623,000) $ 5,623,000
Total Investments (Capital Appreciation Trust)
       (Cost $764,403,832) - 104.4% $ 1,093,109,906
Other assets and liabilities, net - (4.4%) (46,148,908)
TOTAL NET ASSETS - 100.0% $ 1,046,960,998

Capital Appreciation Value Trust

Shares or
Principal
Amount		       Value
COMMON STOCKS - 64.4%
Consumer discretionary - 7.2%
Auto components - 1.4%
Delphi Automotive PLC 35,300 $ 2,165,286
Johnson Controls, Inc. 45,900 2,019,600
TRW Automotive Holdings Corp. (I) 6,500 658,125
4,843,011
Media - 2.0%
Liberty Global PLC, Series A (I) 17,300 735,942
Liberty Global PLC, Series C (I) 48,700 1,997,431
Twenty-First Century Fox, Inc., Class B 87,800 2,924,618
Viacom, Inc., Class B 16,000 1,231,040
6,889,031
Specialty retail - 3.8%
AutoZone, Inc. (D)(I) 16,900 8,613,254
Lowe’s Companies, Inc. 59,700 3,159,324
O’Reilly Automotive, Inc. (I) 11,900 1,789,284
13,561,862
25,293,904
Consumer staples - 4.1%
Beverages - 1.0%
PepsiCo, Inc. 37,500 3,490,875

The accompanying notes are an integral part of the financial statements. 46


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Capital Appreciation Value Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
Food and staples retailing - 0.7%
CVS Health Corp. 31,900 $ 2,538,921
Food products - 0.8%
Mondelez International, Inc., Class A 84,200 2,885,113
Household products - 0.6%
Procter & Gamble Company (D) 26,837 2,247,330
Tobacco - 1.0%
Philip Morris International, Inc. (D) 41,300 3,444,420
14,606,659
Energy - 4.0%
Oil, gas and consumable fuels - 4.0%
Anadarko Petroleum Corp. 7,700 781,088
Apache Corp. 31,800 2,985,066
Canadian Natural Resources, Ltd. 57,100 2,217,764
Chesapeake Energy Corp. 115,600 2,657,644
Concho Resources, Inc. (I) 14,500 1,818,155
Pioneer Natural Resources Company 10,400 2,048,488
Range Resources Corp. 24,918 1,689,690
14,197,895
14,197,895
Financials - 12.0%
Banks - 1.0%
JPMorgan Chase & Company (D) 57,700 3,475,848
Capital markets - 5.2%
Invesco, Ltd. 60,300 2,380,644
State Street Corp. 94,000 6,919,340
TD Ameritrade Holding Corp. 194,600 6,493,802
UBS AG (I) 161,785 2,812,279
18,606,065
Insurance - 3.2%
Marsh & McLennan Companies, Inc. 179,000 9,368,860
XL Group PLC 56,637 1,878,649
11,247,509
Real estate investment trusts - 2.6%
American Tower Corp. 40,400 3,782,652
Crown Castle International Corp. 47,500 3,825,175
Iron Mountain, Inc. 48,000 1,567,200
9,175,027
42,504,449
Health care - 14.1%
Health care equipment and supplies - 1.0%
Abbott Laboratories 42,000 1,746,780
CareFusion Corp. (I) 37,300 1,687,825
3,434,605
Health care providers and services - 4.1%
Cigna Corp. 15,100 1,369,419
DaVita HealthCare Partners, Inc. (I) 52,900 3,869,106
Henry Schein, Inc. (I) 11,057 1,287,809
UnitedHealth Group, Inc. 91,200 7,866,000
14,392,334
Life sciences tools and services - 3.0%
Agilent Technologies, Inc. 36,900 2,102,562
Thermo Fisher Scientific, Inc. 69,800 8,494,660
10,597,222
Pharmaceuticals - 6.0%
Actavis PLC (I) 4,100 989,248
Allergan, Inc. 38,000 6,771,220
Eli Lilly & Company 45,800 2,970,130
Perrigo Company PLC 23,000 3,454,370
Pfizer, Inc. 65,184 1,927,491
Zoetis, Inc. 142,591 5,268,737
21,381,196
49,805,357
Industrials - 9.9%
Aerospace and defense - 3.5%
The Boeing Company (D) 24,500 3,120,810
United Technologies Corp. (D) 86,100 9,092,160
12,212,970
Commercial services and supplies - 0.9%
Tyco International, Ltd. 68,000 3,030,760
Industrial conglomerates - 5.0%
Danaher Corp. 194,500 14,778,110
Roper Industries, Inc. 20,700 3,028,203
17,806,313
Machinery - 0.5%
Pentair PLC 29,400 1,925,406
34,975,449
Information technology - 7.5%
Communications equipment - 0.3%
QUALCOMM, Inc. 13,000 972,010
Electronic equipment, instruments and components - 0.0%
TE Connectivity, Ltd. 1,600 88,464
Internet software and services - 1.8%
Alibaba Group Holding, Ltd., ADR (I) 14,828 1,317,468
Google, Inc., Class A (D)(I) 3,100 1,824,071
Google, Inc., Class C (I) 5,500 3,175,480
6,317,019
IT services - 4.2%
Fidelity National Information Services, Inc. 17,300 973,990
Fiserv, Inc. (I) 132,100 8,538,284
Visa, Inc., Class A 24,400 5,206,228
14,718,502
Semiconductors and semiconductor equipment - 1.0%
NXP Semiconductor NV (I) 4,100 280,563
Texas Instruments, Inc. (D) 69,700 3,323,993
3,604,556
Technology hardware, storage and peripherals - 0.2%
Apple, Inc. 5,300 533,975
Seagate Technology PLC 5,900 337,893
871,868
26,572,419
Materials - 0.5%
Chemicals - 0.5%
Cytec Industries, Inc. 34,500 1,631,505
Telecommunication services - 0.5%
Wireless telecommunication services - 0.5%
SBA Communications Corp., Class A (I) 15,600 1,730,040
Utilities - 4.6%
Electric utilities - 2.7%
Duke Energy Corp. 12,600 942,102

The accompanying notes are an integral part of the financial statements. 47


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Capital Appreciation Value Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
Electric utilities (continued)
FirstEnergy Corp. 38,800 $ 1,302,516
OGE Energy Corp. 100 3,711
Xcel Energy, Inc. 239,800 7,289,920
9,538,249
Multi-utilities - 1.9%
PG&E Corp. 152,200 6,855,088
16,393,337
TOTAL COMMON STOCKS (Cost $188,159,386) $ 227,711,014
 
PREFERRED SECURITIES - 0.5%
Energy - 0.0%
Oil, gas and consumable fuels - 0.0%
Chesapeake Energy Corp. 117 11,071
Financials - 0.2%
Banks - 0.2%
U.S. Bancorp (6.000% to 04/15/2017, then
       3 month LIBOR + 4.861%) 15,000 404,850
U.S. Bancorp (6.500% to 01/15/2022, then
       3 month LIBOR + 4.468%) 14,000 401,520
806,370
806,370
Utilities - 0.3%
Electric utilities - 0.3%
SCE Trust I, 5.625% 15,000 352,950
SCE Trust II, 5.100% 1,920 41,453
SCE Trust III (5.750% to 03/15/2024, then
       3 month LIBOR + 2.990%) 20,615 544,648
939,051
939,051
TOTAL PREFERRED SECURITIES (Cost $1,670,209) $ 1,756,492
 
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS - 3.5%
U.S. government - 3.5%
U.S. Treasury Notes
       2.500%, 08/15/2023 $ 3,700,000 $ 3,723,125
       2.750%, 11/15/2023 8,400,000 8,611,966
12,335,091
TOTAL U.S. GOVERNMENT AND AGENCY
OBLIGATIONS (Cost $11,829,289) $ 12,335,091
 
CORPORATE BONDS - 16.8%
Consumer discretionary - 3.4%
American Honda Finance Corp.
       0.334%, 11/13/2014 (P)(S) $ 200,000 $ 200,037
Cedar Fair LP
       5.250%, 03/15/2021 150,000 147,750
Daimler Finance North America LLC
       1.100%, 08/01/2018 (P)(S) 235,000 238,912
Delphi Corp.
       5.000%, 02/15/2023 75,000 80,250
       6.125%, 05/15/2021 350,000 384,125
Ford Motor Credit Company LLC
       0.753%, 09/08/2017 (P) 525,000 525,604
       0.803%, 12/06/2017 (P) 825,000 826,285
       1.483%, 05/09/2016 (P) 410,000 415,627
       1.724%, 12/06/2017 275,000 273,420
       2.375%, 03/12/2019   575,000   569,293
       2.500%, 01/15/2016 380,000 386,970
       2.750%, 05/15/2015 400,000 405,211
       3.875%, 01/15/2015 890,000 898,542
       6.625%, 08/15/2017 200,000 226,112
Group 1 Automotive, Inc.
       5.000%, 06/01/2022 (S) 25,000 24,188
L Brands, Inc.
       5.625%, 02/15/2022 to 10/15/2023 1,025,000 1,068,563
       6.625%, 04/01/2021 100,000 110,250
       6.900%, 07/15/2017 125,000 138,281
       7.000%, 05/01/2020 125,000 138,750
       8.500%, 06/15/2019 125,000 147,500
Lamar Media Corp.
       5.000%, 05/01/2023 125,000 120,313
Toyota Motor Credit Corp.
       0.384%, 03/10/2015 (P) 400,000 400,244
       0.403%, 01/23/2015 (P) 285,000 285,176
Unitymedia Hessen GmbH & Company KG
       5.500%, 01/15/2023 (S) 500,000 505,000
       7.500%, 03/15/2019 (S) 575,000 608,063
       7.500%, 03/15/2019 (S) 380,000 507,197
Univision Communications, Inc.
       5.125%, 05/15/2023 (S) 150,000 151,875
       6.750%, 09/15/2022 (S) 949,000 1,015,430
       6.875%, 05/15/2019 (S) 925,000 964,313
       7.875%, 11/01/2020 (S) 325,000 348,156
12,111,437
Consumer staples - 1.0%
B&G Foods, Inc.
       4.625%, 06/01/2021 200,000 190,500
General Mills, Inc.
       0.534%, 01/29/2016 (P) 350,000 350,433
       0.875%, 01/29/2016 90,000 90,256
Heineken NV
       0.800%, 10/01/2015 (S) 160,000 160,236
Rite Aid Corp.
       8.000%, 08/15/2020 800,000 856,000
SABMiller Holdings, Inc.
       0.930%, 08/01/2018 (P)(S) 430,000 433,256
       2.200%, 08/01/2018 (S) 300,000 299,416
The Procter & Gamble Company
       3.100%, 08/15/2023 1,000,000 1,012,452
3,392,549
Energy - 4.5%
Antero Resources Corp.
       5.125%, 12/01/2022 (S) 300,000 291,750
Antero Resources Finance Corp.
       5.375%, 11/01/2021 600,000 597,000
       6.000%, 12/01/2020 300,000 305,250
Concho Resources, Inc.
       5.500%, 10/01/2022 to 04/01/2023 1,300,000 1,346,250
       6.500%, 01/15/2022 125,000 132,813
       7.000%, 01/15/2021 325,000 346,938
Energy Transfer Partners LP
       4.150%, 10/01/2020 275,000 285,638
       4.900%, 02/01/2024 345,000 360,703
EQT Corp.
       4.875%, 11/15/2021 1,570,000 1,715,840
       6.500%, 04/01/2018 315,000 359,873
       8.125%, 06/01/2019 483,000 591,716

The accompanying notes are an integral part of the financial statements. 48


John Hancock Variable Insurance Trust

PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)


Capital Appreciation Value Trust (continued)

        Shares or
Principal        
Amount Value

CORPORATE BONDS (continued)

Energy (continued)
Laredo Petroleum, Inc.  
5.625%, 01/15/2022 $ 200,000 $ 196,000
7.375%, 05/01/2022 100,000 105,000
9.500%, 02/15/2019 275,000 292,188
MarkWest Energy Partners LP
4.500%, 07/15/2023 1,375,000 1,333,750
  5.500%, 02/15/2023 1,255,000 1,283,238
6.250%, 06/15/2022 900,000   947,250
6.500%, 08/15/2021 525,000 553,875
6.750%, 11/01/2020 125,000 131,875
ONEOK Partners LP
2.000%, 10/01/2017 140,000 140,808
Range Resources Corp.
5.000%, 08/15/2022 to 03/15/2023   2,675,000 2,740,500
5.750%, 06/01/2021 310,000 323,950
6.750%, 08/01/2020 175,000 183,313
SM Energy Company
6.500%, 11/15/2021 to 01/01/2023 575,000 604,125
Spectra Energy Partners LP
4.750%, 03/15/2024 355,000 380,866
Targa Resources Partners LP
4.250%, 11/15/2023 525,000 502,688
5.250%, 05/01/2023 25,000 25,438
16,078,635
Financials - 1.3%
American Tower Corp.
3.500%, 01/31/2023 100,000 95,093
4.625%, 04/01/2015 70,000 71,397
5.000%, 02/15/2024 165,000 172,987
CBRE Services, Inc.
5.000%, 03/15/2023 75,000 74,243
6.625%, 10/15/2020 125,000 131,425
Crown Castle International Corp.
4.875%, 04/15/2022 275,000 267,438
5.250%, 01/15/2023 225,000 222,750
E*TRADE Financial Corp.
6.000%, 11/15/2017 925,000 952,750
6.375%, 11/15/2019 525,000 551,250
6.750%, 06/01/2016 1,025,000 1,078,813
KFW
0.500%, 04/19/2016 832,000 831,942
4,450,088
Health care - 0.5%
Baxter International, Inc.
0.405%, 12/11/2014 (P) 420,000 420,123
DaVita Healthcare Partners, Inc.
5.125%, 07/15/2024 675,000 663,188
Roche Holdings, Inc.
1.350%, 09/29/2017 (S) 550,000 548,816
Zoetis, Inc.
1.150%, 02/01/2016 115,000 115,243
1.875%, 02/01/2018 85,000 84,404
1,831,774
Industrials - 2.6%
Actuant Corp.
5.625%, 06/15/2022 25,000 26,000
Burlington Northern Santa Fe LLC
3.750%, 04/01/2024 85,000 86,607
3.850%, 09/01/2023 750,000 774,905
Caterpillar Financial Services Corp.
0.700%, 11/06/2015 205,000 205,336
Caterpillar Financial Services Corp. (continued)
1.250%, 11/06/2017 250,000 248,185
CNH Industrial Capital LLC
3.625%, 04/15/2018 450,000 439,875
3.875%, 11/01/2015 125,000 125,781
6.250%, 11/01/2016 225,000 236,813
Continental Airlines 2009-1 Pass
Through Trust
9.000%, 07/08/2016 235,104 258,614
Continental Airlines 2009-2 Class A Pass
Through Trust
7.250%, 11/10/2019 140,121 164,291
Continental Airlines 2012-1 Class A Pass
Through Trust
4.150%, 04/11/2024 570,469 589,009
Delta Air Lines 2009-1 Class A Pass
Through Trust
7.750%, 12/17/2019 147,177 172,197
Delta Air Lines 2011-1 Class A Pass
Through Trust
5.300%, 04/15/2019 108,266 118,281
Hawaiian Airlines 2013-1 Class A Pass
Through Certificates
3.900%, 01/15/2026 125,000 124,438
International Lease Finance Corp.
2.184%, 06/15/2016 (P) 265,000 262,350
John Deere Capital Corp.
0.304%, 01/12/2015 (P) 700,000 700,214
0.333%, 10/08/2014 (P) 555,000 555,015
0.454%, 12/15/2017 (P) 425,000 425,081
0.700%, 09/04/2015 310,000 311,003
1.550%, 12/15/2017 425,000 425,504
PACCAR Financial Corp.
0.367%, 05/05/2015 (P) 160,000 160,122
0.423%, 06/06/2017 (P) 210,000 210,277
0.504%, 02/08/2016 (P) 35,000 35,096
0.750%, 05/16/2016 150,000 150,128
Schaeffler Finance BV
7.750%, 02/15/2017 (S) 200,000 217,500
United Technologies Corp.
0.734%, 06/01/2015 (P) 900,000 902,836
US Airways 2010-1 Class A Pass
Through Trust
6.250%, 04/22/2023 427,352 481,839
US Airways 2010-1 Class B Pass
Through Trust
8.500%, 04/22/2017 51,052 56,413
US Airways 2012-2 Class A Pass
Through Trust
4.625%, 06/03/2025 23,898 24,913
US Airways 2012-2 Class B Pass
Through Trust
6.750%, 06/03/2021 71,955 77,711
US Airways 2013-1 Class A Pass
Through Trust
3.950%, 11/15/2025 250,000 251,875
US Airways 2013-1 Class B Pass
Through Trust
5.375%, 11/15/2021 75,000 77,625
Xylem, Inc.
3.550%, 09/20/2016 275,000 287,856
4.875%, 10/01/2021 60,000 65,102
9,248,792

The accompanying notes are an integral part of the financial statements. 49


John Hancock Variable Insurance Trust

PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)


Capital Appreciation Value Trust (continued)

        Shares or
Principal
Amount         Value
CORPORATE BONDS (continued)
Information technology - 0.4%
Amphenol Corp.
1.550%, 09/15/2017 $ 130,000 $ 129,809
NXP BV
5.750%, 02/15/2021 to 03/15/2023 (S) 1,075,000 1,089,000
Xilinx, Inc.
3.000%, 03/15/2021 350,000 350,320
1,569,129
Materials - 0.2%
Rexam PLC (6.750% to 06/29/2017, then
3 month EURIBOR + 2.900%)
06/29/2067 480,000 639,609
Telecommunication services - 2.3%
Intelsat Jackson Holdings SA  
5.500%, 08/01/2023 525,000 501,375
7.250%, 04/01/2019 to 10/15/2020 1,750,000 1,844,500
7.500%, 04/01/2021 200,000 213,500
8.500%, 11/01/2019 300,000   313,590
Matterhorn Mobile SA
5.399%, 05/15/2019 (P)(S) 100,000 105,792
6.750%, 05/15/2019 (S) 200,000 219,763
SBA Communications Corp.
5.625%, 10/01/2019 100,000 101,500
SBA Telecommunications, Inc.
5.750%, 07/15/2020 125,000   127,188
Sprint Communications, Inc.
9.000%, 11/15/2018 (S) 150,000 173,438
Telesat Canada
6.000%, 05/15/2017 (S) 125,000 127,969
UPCB Finance III, Ltd.
6.625%, 07/01/2020 (S) 475,000 496,423
UPCB Finance V, Ltd.  
7.250%, 11/15/2021 (S) 800,000 856,000
UPCB Finance VI, Ltd.
6.875%, 01/15/2022 (S) 1,675,000 1,788,063
Verizon Communications, Inc.
0.433%, 03/06/2015 (P)(S) 700,000 700,412
0.632%, 06/09/2017 (P) 440,000 441,050
8,010,563
Utilities - 0.6%
AmeriGas Finance LLC
6.750%, 05/20/2020 25,000 26,000
7.000%, 05/20/2022 125,000 130,938
AmeriGas Partners LP
6.250%, 08/20/2019 25,000 25,688
CMS Energy Corp.
6.550%, 07/17/2017 170,000 192,105
8.750%, 06/15/2019 80,000 101,593
Duke Energy Corp.
0.613%, 04/03/2017 (P) 305,000 306,060
ITC Holdings Corp.
3.650%, 06/15/2024 115,000 114,676
Northern States Power Company
3.300%, 06/15/2024 125,000 125,573
NSTAR Electric Company
0.471%, 05/17/2016 (P) 300,000 299,771
Pennsylvania Electric Company
4.150%, 04/15/2025 (S) 240,000 240,150
Suburban Propane Partners LP
7.375%, 03/15/2020 to 08/01/2021 225,000 237,000
7.500%, 10/01/2018 150,000 155,625
Xcel Energy, Inc.
0.750%, 05/09/2016 205,000 204,685
2,159,864
TOTAL CORPORATE BONDS (Cost $58,898,693) $ 59,492,440
 
CONVERTIBLE BONDS - 0.2%
Industrials - 0.2%
United Airlines, Inc. 4.500%, 01/15/2015 257,000 636,236
TOTAL CONVERTIBLE BONDS (Cost $350,113) $ 636,236
 
TERM LOANS (M) - 5.8%
Consumer discretionary - 1.4%
Cequel Communications LLC
3.500%, 02/14/2019 574,361 563,591
Charter Communications Operating LLC
3.000%, 07/01/2020 320,938 310,864
3.000%, 01/03/2021 286,720 277,720
Hilton Worldwide Finance LLC
3.500%, 10/26/2020 697,368 685,911
Kasima LLC
3.250%, 05/17/2021 72,794 71,793
Peninsula Gaming LLC
4.250%, 11/20/2017 678,636 672,274
UPC Financing Partnership
3.250%, 06/30/2021 1,700,000 1,650,700
Wendy’s International, Inc.
3.250%, 05/15/2019 493,750 490,312
4,723,165
Consumer staples - 1.9%
Charger OpCo BV TBD 06/30/2021 (T) 250,000 312,852
De Master Blenders 1753 NV
TBD 07/23/2021 (T) 450,000 437,625
HJ Heinz Company
3.500%, 06/05/2020 5,037,983 4,971,230
Pinnacle Foods Finance LLC
3.250%, 04/29/2020 1,145,065 1,120,777
6,842,484
Financials - 0.8%
Crown Castle Operating Company
3.000%, 01/31/2021 2,805,097 2,764,072
Health care - 0.0%
HCA, Inc.
2.904%, 03/31/2017 123,750 122,822
Telecommunication services - 1.7%
Intelsat Jackson Holdings SA
3.750%, 06/30/2019 4,845,968 4,765,200
Telesat Canada
3.233%, 03/24/2017 131,250 116,021
3.500%, 03/28/2019 697,274 686,234
4.250%, 03/26/2019 492,500 432,789
6,000,244
TOTAL TERM LOANS (Cost $20,889,552) $ 20,452,787
ASSET BACKED SECURITIES - 0.5%
Ally Master Owner Trust, Series 2012-3,
Class A1
0.854%, 06/15/2017 (P) $ 1,540,000 $ 1,544,406

The accompanying notes are an integral part of the financial statements. 50


John Hancock Variable Insurance Trust

PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)


Capital Appreciation Value Trust (continued)

        Shares or
Principal
Amount         Value
ASSET BACKED SECURITIES (continued)
Ford Credit Auto Owner Trust, Series 2012-C,
Class A3    
0.580%, 12/15/2016 $ 206,186 $ 206,332
Honda Auto Receivables Owner Trust,  
Series 2012-3, Class A3    
0.560%, 05/15/2016 193,014 193,130
TOTAL ASSET BACKED SECURITIES (Cost $1,939,192) $ 1,943,868
 
SHORT-TERM INVESTMENTS - 8.8%
Money market funds - 8.7%
T. Rowe Price Reserve Investment
Fund, 0.0487% (Y) $ 30,813,791 $ 30,813,791
Repurchase agreement - 0.1%
Repurchase Agreement with State Street Corp.
dated 09/30/2014 at 0.000% to be
repurchased at $339,000 on 10/01/2014,
collateralized by $350,000 U.S. Treasury
Notes, 1.500% due 01/31/2019 (valued at
$348,250, including interest) 339,000 339,000
TOTAL SHORT-TERM INVESTMENTS (Cost $31,152,791) $ 31,152,791
Total Investments (Capital Appreciation Value Trust)
(Cost $314,889,225) - 100.5% $ 355,480,719
Other assets and liabilities, net - (0.5%) (1,622,567 )
TOTAL NET ASSETS - 100.0% $ 353,858,152
 

Core Bond Trust
 
Shares or
Principal
Amount Value
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS - 57.4%
U.S. government - 30.0%  
U.S. Treasury Bonds
3.125%, 08/15/2044 $ 1,018,000 $ 1,001,775
3.375%, 05/15/2044 2,176,000 2,246,720
3.625%, 02/15/2044 16,041,000 17,336,808
4.500%, 08/15/2039 768,000 953,280
U.S. Treasury Notes
0.500%, 09/30/2016 14,042,000 14,017,865
0.625%, 08/31/2017 to 09/30/2017 20,675,000 20,383,773
0.875%, 05/15/2017 to 08/15/2017 50,129,000 49,994,367
1.000%, 09/15/2017 to 08/31/2019 49,856,000 49,669,229
1.500%, 05/31/2019 13,033,000 12,900,637
1.625%, 04/30/2019 to 08/31/2019 25,257,000 25,103,932
1.750%, 09/30/2019 34,479,000 34,445,328
2.000%, 08/31/2021 11,152,000 11,002,139
2.250%, 07/31/2021 2,835,000 2,845,189
2.375%, 08/15/2024 7,641,000 7,555,039
2.500%, 05/15/2024 15,552,000 15,566,588
3.125%, 04/30/2017 8,666,000 9,155,490
274,178,159
U.S. government agency - 27.4%
Federal Home Loan Mortgage Corp.
2.500%, 03/01/2028 2,310,767 2,340,283
2.684%, 11/01/2042 (P) 1,749,208 1,768,808
2.753%, 10/01/2044 (P) 818,000 836,491
2.811%, 09/01/2044 (P) 1,066,000 1,092,851
2.820%, 08/01/2044 (P) 638,797 655,189
2.840%, 08/01/2044 (P) 1,328,559 1,363,755
2.870%, 06/01/2044 (P) 961,520 988,467
2.944%, 01/01/2044 (P) 1,406,313 1,433,049
2.959%, 11/01/2043 (P) 2,901,851 2,961,116
2.985%, 10/01/2043 (P) 1,935,652 1,976,593
3.014%, 11/01/2043 (P) 1,852,614 1,897,182
3.083%, 04/01/2044 (P) 1,626,835 1,682,847
3.166%, 02/01/2042 (P) 3,116,863 3,231,439
3.237%, 06/01/2044 (P) 1,940,572 1,997,961
3.422%, 04/01/2044 (P) 928,043 962,485
3.500%, 09/15/2040 to 10/15/2044 25,287,363 25,989,935
4.000%, 03/01/2029 to 12/15/2043 9,942,106 10,626,374
4.500%, 06/01/2042 2,516,183 2,749,131
5.000%, 08/01/2039 to 08/01/2041 12,603,734 13,982,371
Federal National Mortgage Association
2.216%, 10/09/2019 (Z) 2,650,000 2,350,659
2.500%, 11/01/2026 to 08/01/2029 8,214,548 8,298,453
2.553%, 05/01/2043 (P) 1,176,701 1,182,643
2.625%, 09/06/2024 1,052,000 1,033,514
2.731%, 07/01/2044 (P) 640,860 657,055
2.738%, 08/01/2044 (P) 5,047,037 5,171,007
2.812%, 07/01/2044 (P) 1,028,369 1,056,253
2.915%, 10/01/2044 (P) 2,526,000 2,600,535
2.978%, 01/01/2044 (P) 1,068,268 1,091,949
2.985%, 04/01/2044 (P) 735,966 760,477
3.000%, TBA (C) 10,100,000 9,956,292
3.000%, 12/01/2037 to 04/01/2038 1,538,608 1,516,537
3.010%, 11/25/2044 936,000 960,018
3.071%, 01/01/2044 (P) 710,652 736,340
3.120%, 09/01/2044 (P) 1,278,000 1,311,274
3.188%, 07/01/2044 (P) 1,788,761 1,840,901
3.231%, 04/01/2044 (P) 9,221,156 9,520,383
3.500%, TBA (C) 20,500,000 21,069,791
3.500%, 09/01/2034 to 10/25/2044 7,123,542 7,333,245
4.000%, TBA (C) 2,600,000 2,732,115
4.000%, 05/01/2025 to 10/01/2034 36,617,948 39,165,293
4.500%, 05/01/2034 to 10/25/2034 2,180,054 2,380,980
5.000%, 03/01/2041 to 08/01/2041 1,313,556 1,470,579
5.500%, 09/01/2034 to 04/01/2040 4,009,415 4,493,213
6.000%, 08/01/2034 to 07/01/2037 4,352,722 4,918,539
6.500%, 10/01/2036 1,335,924 1,509,693
Government National Mortgage Association
3.500%, 12/01/2099 5,500,000 5,686,636
4.000%, 10/01/2041 19,300,000 20,473,702
4.500%, 10/01/2041 7,900,000 8,569,971
Tennessee Valley Authority
2.875%, 09/15/2024 2,870,000 2,854,848
251,239,222
TOTAL U.S. GOVERNMENT AND AGENCY
OBLIGATIONS (Cost $524,019,906) $ 525,417,381
 
FOREIGN GOVERNMENT

OBLIGATIONS - 1.5%

Canada - 0.1%
Province of Manitoba
3.050%, 05/14/2024 785,000 792,361
792,361

The accompanying notes are an integral part of the financial statements. 51


John Hancock Variable Insurance Trust

PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)


Core Bond Trust (continued)

        Shares or        
Principal
Amount Value
FOREIGN GOVERNMENT
OBLIGATIONS (continued)
Mexico - 0.3%
Government of Mexico  
5.750%, 10/12/2110 $ 2,444,000 $ 2,520,986
  2,520,986
Paraguay - 0.1%
Republic of Paraguay
6.100%, 08/11/2044 (S) 645,000 680,475
680,475
Poland - 0.2%
Republic of Poland, Bond
4.000%, 01/22/2024   1,508,000 1,549,470
Slovakia - 0.3%
Republic of Slovakia
4.375%, 05/21/2022 (S) 2,290,000 2,441,163
Slovenia - 0.4%
Republic of Slovenia
5.250%, 02/18/2024 (S) 1,870,000 1,991,550
5.500%, 10/26/2022 (S) 1,059,000 1,150,339
5.850%, 05/10/2023 (S) 845,000 940,063
4,081,952
Tunisia - 0.1%
Republic of Tunisia
2.452%, 07/24/2021 1,397,000 1,392,169
1,392,169
TOTAL FOREIGN GOVERNMENT
OBLIGATIONS (Cost $13,307,380) $ 13,458,576
 
CORPORATE BONDS - 23.6%
Consumer discretionary - 2.3%
Bed Bath & Beyond, Inc. 5.165%, 08/01/2044 585,000 572,808
British Sky Broadcasting Group PLC
3.750%, 09/16/2024 (S) 1,070,000 1,067,855
Comcast Corp. 4.200%, 08/15/2034 525,000 520,491
Daimler Finance North America LLC
1.875%, 01/11/2018 (S) 937,000 936,193
2.375%, 08/01/2018 (S) 1,340,000 1,356,596
DIRECTV Holdings LLC
3.800%, 03/15/2022 965,000 981,027
4.450%, 04/01/2024 1,205,000 1,256,762
General Motors Company
3.500%, 10/02/2018 1,215,000 1,234,744
4.875%, 10/02/2023 795,000 840,713
Grupo Televisa SAB 5.000%, 05/13/2045 530,000 523,582
Johnson Controls, Inc.
4.625%, 07/02/2044 535,000 523,173
4.950%, 07/02/2064 290,000 282,945
LVMH Moet Hennessy Louis Vuitton SA
1.625%, 06/29/2017 (S) 1,700,000 1,707,441
Thomson Reuters Corp. 3.850%, 09/29/2024 1,075,000 1,064,945
Toyota Motor Credit Corp.
1.125%, 05/16/2017 2,210,000 2,201,701
2.750%, 05/17/2021 1,305,000 1,316,984
Viacom, Inc. 5.250%, 04/01/2044 1,105,000 1,142,024
Volkswagen Group of America Finance LLC
2.125%, 05/23/2019 (S) 980,000 972,184
Volkswagen International Finance NV
1.125%, 11/18/2016 (S) 2,210,000 2,212,111
Yum! Brands, Inc. 5.350%, 11/01/2043 645,000 701,505
21,415,784
Consumer staples - 1.1%
Altria Group, Inc. 5.375%, 01/31/2044 685,000 729,835
Anheuser-Busch InBev Finance, Inc.
2.150%, 02/01/2019 1,515,000 1,507,342
2.625%, 01/17/2023 755,000 708,887
Anheuser-Busch InBev Worldwide, Inc.
7.750%, 01/15/2019 675,000 815,069
Pernod-Ricard SA 5.750%, 04/07/2021 (S) 1,423,000 1,620,925
Tyson Foods, Inc.
3.950%, 08/15/2024 520,000 521,059
4.500%, 06/15/2022 1,015,000 1,075,979
Wm Wrigley Jr. Company
2.000%, 10/20/2017 (S) 710,000 716,696
2.400%, 10/21/2018 (S) 555,000 559,053
2.900%, 10/21/2019 (S) 1,123,000 1,139,039
3.375%, 10/21/2020 (S) 1,200,000 1,218,198
10,612,082
Energy - 3.2%
Access Midstream Partners LP
4.875%, 05/15/2023 1,370,000 1,405,963
Canadian Oil Sands, Ltd.
6.000%, 04/01/2042 (S) 550,000 633,139
Cimarex Energy Company 4.375%, 06/01/2024 1,420,000 1,427,384
CNOOC Nexen Finance 2014 ULC
1.625%, 04/30/2017 1,635,000 1,635,564
Continental Resources, Inc.
4.500%, 04/15/2023 1,225,000 1,269,243
Diamond Offshore Drilling, Inc.
4.875%, 11/01/2043 535,000 495,917
Ecopetrol SA
5.875%, 05/28/2045 500,000 506,600
7.375%, 09/18/2043 485,000 585,880
El Paso Pipeline Partners
Operating Company LLC
4.100%, 11/15/2015 1,125,000 1,161,549
4.300%, 05/01/2024 1,045,000 1,038,155
Energy Transfer Partners LP
5.950%, 10/01/2043 420,000 450,258
EQT Midstream Partners LP
4.000%, 08/01/2024 850,000 838,126
Kerr-McGee Corp. 6.950%, 07/01/2024 1,050,000 1,321,659
Kinder Morgan Energy Partners LP
4.150%, 02/01/2024 525,000 520,799
5.000%, 08/15/2042 to 03/01/2043 525,000 489,949
Marathon Petroleum Corp.
4.750%, 09/15/2044 260,000 249,008
5.000%, 09/15/2054 335,000 318,142
Newfield Exploration Company
5.625%, 07/01/2024 860,000 922,350
Niagara Mohawk Power Corp.
4.278%, 10/01/2034 (S) 645,000 649,646
ONEOK Partners LP 2.000%, 10/01/2017 825,000 829,762
Petrobras Global Finance BV
3.000%, 01/15/2019 1,310,000 1,275,953
4.875%, 03/17/2020 1,060,000 1,073,997
Petroleos Mexicanos
2.254%, 07/18/2018 (P) 900,000 940,500
5.500%, 06/27/2044 695,000 709,324
6.375%, 01/23/2045 (S) 1,025,000 1,159,070
Rowan Companies, Inc. 5.400%, 12/01/2042 537,000 503,498
Southeast Supply Header LLC
4.250%, 06/15/2024 (S) 1,065,000 1,086,270
Statoil ASA 2.900%, 11/08/2020 985,000 1,004,733
Talisman Energy, Inc. 3.750%, 02/01/2021 1,040,000 1,051,412

The accompanying notes are an integral part of the financial statements. 52


John Hancock Variable Insurance Trust

PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)


Core Bond Trust (continued)

        Shares or
Principal
Amount         Value
CORPORATE BONDS (continued)
Energy (continued)  
TC PipeLines LP 4.650%, 06/15/2021 $ 303,000 $ 320,197
The Williams Companies, Inc.
5.750%, 06/24/2044 375,000 368,453
Total Capital International SA  
2.100%, 06/19/2019 1,315,000 1,309,540
2.750%, 06/19/2021 535,000   532,729
TransCanada PipeLines, Ltd.
4.625%, 03/01/2034 985,000 1,010,556
Western Gas Partners LP 5.375%, 06/01/2021 300,000 334,210
29,429,535
Financials - 9.5%
ACE INA Holdings, Inc.  
3.350%, 05/15/2024 620,000 618,766
Alleghany Corp.
4.900%, 09/15/2044 340,000 335,037
American Express Credit Corp.
1.750%, 06/12/2015 2,264,000 2,284,229
2.250%, 08/15/2019 1,270,000 1,260,245
American International Group, Inc.
6.400%, 12/15/2020 660,000 783,473
American International Group, Inc. (8.175% to
05/15/2038, then 3 month LIBOR + 4.195%)
8.175%, 05/15/2058 270,000 363,825
American Tower Corp.
3.450%, 09/15/2021 1,060,000 1,039,382
3.500%, 01/31/2023 642,000 610,494
5.050%, 09/01/2020 732,000 794,003
Ameriprise Financial Inc
3.700%, 10/15/2024 805,000 808,716
Assurant, Inc.
2.500%, 03/15/2018 1,075,000 1,079,758
Australia & New Zealand Banking Group, Ltd.
4.500%, 03/19/2024 (S) 1,180,000 1,190,473
Bank of America Corp.
1.500%, 10/09/2015 3,565,000 3,591,773
4.000%, 04/01/2024 735,000 742,870
4.200%, 08/26/2024 775,000 767,290
6.000%, 09/01/2017 1,225,000 1,364,308
BPCE SA
4.000%, 04/15/2024 815,000 821,194
5.700%, 10/22/2023 (S) 640,000 680,774
Capital One NA/mclean VA
2.400%, 09/05/2019 1,950,000 1,930,026
Citigroup, Inc.
1.550%, 08/14/2017 1,755,000 1,742,255
1.700%, 07/25/2016 1,225,000 1,237,328
2.500%, 07/29/2019 1,890,000 1,873,574
2.650%, 03/02/2015 1,333,000 1,344,846
Credit Suisse/New York NY
3.625%, 09/09/2024 2,035,000 2,008,348
DDR Corp.
3.375%, 05/15/2023 1,295,000 1,240,642
4.625%, 07/15/2022 1,285,000 1,358,254
Federal Realty Investment Trust
3.000%, 08/01/2022 425,000 416,999
3.950%, 01/15/2024 605,000 624,304
Ford Motor Credit LLC
3.664%, 09/08/2024 1,085,000 1,062,820
General Electric Capital Corp.
5.875%, 01/14/2038 1,165,000 1,405,183
Healthcare Trust of America Holdings LP
3.375%, 07/15/2021 740,000 736,384
HSBC Holdings PLC
4.250%, 03/14/2024 715,000 725,323
5.250%, 03/14/2044 740,000 785,625
HSBC USA, Inc.
2.375%, 02/13/2015 1,335,000 1,345,034
ING Bank NV
2.500%, 10/01/2019 (S) 2,265,000 2,251,379
5.800%, 09/25/2023 (S) 980,000 1,079,760
Inter-American Development Bank
3.875%, 10/28/2041 1,026,000 1,047,367
4.375%, 01/24/2044 370,000 417,522
Intesa Sanpaolo SpA
2.375%, 01/13/2017 2,545,000 2,573,433
JPMorgan Chase & Company
3.625%, 05/13/2024 500,000 499,215
4.850%, 02/01/2044 665,000 696,625
Lazard Group LLC
4.250%, 11/14/2020 1,115,000 1,165,951
6.850%, 06/15/2017 3,948,000 4,448,563
Liberty Mutual Group, Inc.
4.850%, 08/01/2044 (S) 955,000 949,828
Markel Corp.
3.625%, 03/30/2023 450,000 447,423
4.900%, 07/01/2022 655,000 713,725
Metlife Inc
1.903%, 12/15/2017 1,015,000 1,018,099
4.721%, 12/15/2044 235,000 237,205
Mid-America Apartments LP
3.750%, 06/15/2024 1,115,000 1,099,408
4.300%, 10/15/2023 825,000 854,698
Mizuho Bank Ltd.
2.650%, 09/25/2019 (S) 1,955,000 1,954,724
Morgan Stanley
2.375%, 07/23/2019 2,095,000 2,061,402
3.875%, 04/29/2024 1,165,000 1,164,126
4.350%, 09/08/2026 1,255,000 1,233,846
Morgan Stanley Company
5.375%, 10/15/2015 1,075,000 1,125,794
Murray Street Investment Trust I
4.647%, 03/09/2017 (P) 1,911,000 2,045,584
Norddeutsche Landesbank Girozentrale
2.000%, 02/05/2019 (S) 2,600,000 2,591,394
Sumitomo Mitsui Banking Corp.
1.350%, 07/11/2017 1,695,000 1,685,547
Sumitomo Mitsui Financial Group, Inc.
4.436%, 04/02/2024 (S) 990,000 1,014,408
Synchrony Financial
4.250%, 08/15/2024 965,000 965,400
Tanger Properties LP
3.875%, 12/01/2023 555,000 560,875
Teachers Insurance & Annuity Association Of
America
4.900%, 09/15/2044 (S) 940,000 957,976
The Bank Of Tokyo-Mitsubishi UFJ, Ltd.
2.350%, 09/08/2019 (S) 3,330,000 3,302,811
The Goldman Sachs Group, Inc.
3.850%, 07/08/2024 1,315,000 1,308,146
6.250%, 02/01/2041 430,000 520,826
6.750%, 10/01/2037 446,000 530,425
The Toronto-Dominion Bank
2.250%, 09/25/2019 (S) 2,770,000 2,775,676

The accompanying notes are an integral part of the financial statements. 53


John Hancock Variable Insurance Trust

PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)


Core Bond Trust (continued)

        Shares or
Principal
Amount         Value
CORPORATE BONDS (continued)
Financials (continued)  
WEA Finance LLC / Westfield UK &
Europe Finance PLC
2.700%, 09/17/2019 (S) $ 550,000 $ 551,427
  3.750%, 09/17/2024 (S) 580,000 578,599
WR Berkley Corp.
4.625%, 03/15/2022 588,000 628,885
4.750%, 08/01/2044 605,000 595,091
86,626,718
Health care - 1.4%
Actavis Funding SCS
3.850%, 06/15/2024 (S) 1,360,000 1,318,728
4.850%, 06/15/2044 (S) 340,000   319,428
Amgen, Inc.
1.250%, 05/22/2017 2,090,000 2,079,159
3.625%, 05/22/2024 785,000 779,033
5.375%, 05/15/2043 525,000 571,789
Celgene Corp.  
2.250%, 05/15/2019 1,045,000 1,040,349
4.625%, 05/15/2044 535,000 524,888
5.250%, 08/15/2043   460,000 499,403
McKesson Corp. 3.796%, 03/15/2024 625,000 630,422
Mylan, Inc. 5.400%, 11/29/2043 340,000 360,346
Teva Pharmaceutical Finance IV BV
3.650%, 11/10/2021 690,000 701,477
Thermo Fisher Scientific, Inc.
1.300%, 02/01/2017 1,285,000 1,281,150
3.600%, 08/15/2021 500,000   514,997
WellPoint, Inc.
3.125%, 05/15/2022 1,288,000 1,272,543
3.500%, 08/15/2024 695,000 677,999
5.100%, 01/15/2044 380,000 403,754
12,975,465
Industrials - 0.9%
Burlington Northern Santa Fe LLC
4.550%, 09/01/2044 520,000 519,614
ERAC USA Finance LLC
3.850%, 11/15/2024 (S) 415,000 415,875
5.625%, 03/15/2042 (S) 1,207,000 1,363,162
L-3 Communications Corp.
3.950%, 05/28/2024 825,000 818,808
Northrop Grumman Corp.
3.250%, 08/01/2023 1,375,000 1,359,945
4.750%, 06/01/2043 1,045,000 1,074,121
Penske Truck Leasing Company LP
2.500%, 06/15/2019 (S) 1,345,000 1,337,706
Valmont Industries Inc 5.250%, 10/01/2054 550,000 537,029
Weatherford International, Ltd.
5.950%, 04/15/2042 625,000 671,321
8,097,581
Information technology - 1.2%
Apple, Inc.
2.850%, 05/06/2021 2,260,000 2,266,794
3.450%, 05/06/2024 1,405,000 1,419,389
4.450%, 05/06/2044 755,000 773,300
Broadcom Corp. 4.500%, 08/01/2034 225,000 229,541
Google, Inc. 3.375%, 02/25/2024 605,000 617,755
MasterCard, Inc. 3.375%, 04/01/2024 1,415,000 1,423,108
Oracle Corp.
3.400%, 07/08/2024 1,295,000 1,290,245
4.300%, 07/08/2034 1,365,000 1,375,782
4.500%, 07/08/2044 555,000 561,836
Tencent Holdings, Ltd.
3.375%, 05/02/2019 (S) 1,235,000 1,248,610
11,206,360
Materials - 0.6%
Alcoa, Inc. 5.125%, 10/01/2024 750,000 751,185
BHP Billiton Finance USA, Ltd.
5.000%, 09/30/2043 535,000 586,908
Glencore Finance Canada, Ltd.
2.050%, 10/23/2015 (S) 1,321,000 1,335,711
LYB International Finance BV
4.875%, 03/15/2044 645,000 658,301
Nucor Corp. 4.000%, 08/01/2023 500,000 512,261
The Mosaic Company
5.450%, 11/15/2033 310,000 342,660
5.625%, 11/15/2043 390,000 435,271
Vale Overseas, Ltd. 8.250%, 01/17/2034 475,000 595,954
5,218,251
Telecommunication services - 1.7%
America Movil SAB de CV
3.125%, 07/16/2022 1,965,000 1,908,172
AT&T, Inc.
4.300%, 12/15/2042 490,000 447,793
4.350%, 06/15/2045 825,000 758,300
4.800%, 06/15/2044 755,000 742,710
Bharti Airtel International Netherlands BV
5.350%, 05/20/2024 (S) 580,000 617,874
Telefonica Chile SA 3.875%, 10/12/2022 (S) 555,000 546,011
Verizon Communications, Inc.
1.350%, 06/09/2017 2,790,000 2,776,750
3.450%, 03/15/2021 995,000 1,009,991
4.862%, 08/21/2046 (S) 1,533,000 1,537,340
5.050%, 03/15/2034 955,000 1,011,832
5.150%, 09/15/2023 2,510,000 2,776,201
6.400%, 09/15/2033 1,053,000 1,281,281
15,414,255
Utilities - 1.7%
Alabama Power Company 4.150%, 08/15/2044 360,000 357,299
Ameren Illinois Co 4.300%, 07/01/2044 370,000 373,451
American Electric Power Company, Inc.
1.650%, 12/15/2017 1,375,000 1,374,515
American Transmission Systems Inc
5.000%, 09/01/2044 (S) 560,000 563,123
Berkshire Hathaway Energy Company
5.150%, 11/15/2043 370,000 410,139
Connecticut Light & Power Company
4.300%, 04/15/2044 450,000 460,328
Consolidated Edison Company of New
York, Inc. 4.450%, 03/15/2044 170,000 172,828
Consumers Energy Company
4.350%, 08/31/2064 395,000 392,252
Dominion Resources Inc/va
5.750%, 10/01/2054 (P) 495,000 500,658
Dominion Resources, Inc. 8.875%, 01/15/2019 1,125,000 1,415,917
Duke Energy Corp. 3.750%, 04/15/2024 1,005,000 1,030,608
Duke Energy Ohio, Inc. 3.800%, 09/01/2023 535,000 559,952
Electricite de France SA
6.000%, 01/22/2114 (S) 855,000 969,750
Pacific Gas & Electric Company
3.250%, 06/15/2023 500,000 495,151
PacifiCorp 3.600%, 04/01/2024 1,175,000 1,207,960

The accompanying notes are an integral part of the financial statements. 54


John Hancock Variable Insurance Trust

PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)


Core Bond Trust (continued)

        Shares or        
Principal
Amount   Value
CORPORATE BONDS (continued)
Utilities (continued)
Potomac Electric Power Company  
3.600%, 03/15/2024 $ 535,000 $ 550,381
PPL Capital Funding, Inc. 3.950%, 03/15/2024   565,000   580,979
Public Service Co Of Colorado    
4.300%, 03/15/2044 330,000 338,127
Public Service Electric & Gas Company  
4.000%, 06/01/2044 1,230,000 1,204,982
Puget Energy, Inc. 6.000%, 09/01/2021 1,560,000 1,814,261
Southwestern Electric Power Company  
3.550%, 02/15/2022 440,000 450,775
15,223,436
TOTAL CORPORATE BONDS (Cost $213,971,442) $ 216,219,467
 
MUNICIPAL BONDS - 1.8%
County of Clark (Nevada) 6.820%, 07/01/2045 1,730,000 2,363,388
Los Angeles Community College District
(California) 6.750%, 08/01/2049 1,665,000 2,358,572
New Jersey State Turnpike Authority
7.102%, 01/01/2041 2,188,000 3,035,566
North Texas Tollway Authority
6.718%, 01/01/2049 1,991,000 2,748,396
Port Authority of New York & New Jersey
4.458%, 10/01/2062 2,246,000 2,240,160
State of California 7.600%, 11/01/2040 1,495,000 2,211,344
State of Illinois, GO 5.877%, 03/01/2019 490,000 544,307
The Ohio State University 4.800%, 06/01/2111 679,000 716,718
TOTAL MUNICIPAL BONDS (Cost $12,889,340) $ 16,218,451
 
COLLATERALIZED MORTGAGE
OBLIGATIONS - 8.6%
Commercial and residential - 5.0%
CFCRE Commercial Mortgage Trust,
Series 2011-C1, Class A4
4.961%, 04/15/2044 (P) (S) 1,420,000 1,575,663
Citigroup Commercial Mortgage Trust
Series 2014-GC19, Class A3,
       3.753%, 03/10/2047 508,000 522,748
Series 2014-GC19, Class AAB,
       3.552%, 03/10/2047 1,279,000 1,323,046
Commercial Mortgage Pass
Through Certificates
Series 2010-C1, Class A3,
       4.205%, 07/10/2046 (S) 1,512,000 1,624,475
Series 2012-LC4, Class A3,
       3.069%, 12/10/2044 1,141,000 1,168,910
Series 2013-CR7, Class A4,
       3.213%, 03/10/2046 258,000 257,465
Series 2014-CR18, Class ASB,
       3.452%, 07/15/2047 618,000 632,932
Series 2014-CR19, Class A5,
       3.796%, 08/10/2047 1,314,000 1,342,924
Series 2014-LC15, Class ASB,
       3.528%, 04/10/2047 1,063,000 1,095,310
Series 2014-UBS4, Class A5,
       3.694%, 08/10/2047 2,719,000 2,770,879
Series 2014-UBS5, Class A4,
       3.838%, 09/10/2047 1,008,000 1,037,548
Series 2014-UBS5, Class ASB,
       3.548%, 09/10/2047 358,000 368,267
Credit Suisse First Boston Mortgage
Securities Corp., Series 2005-C5, Class A4
5.100%, 08/15/2038 (P) 559,429 570,946
DBUBS Mortgage Trust
Series 2011-LC1A, Class A1,
       3.742%, 11/10/2046 (S)   1,678,764   1,733,683
Series 2011-LC1A, Class A3,
       5.002%, 11/10/2046 (S) 211,000 235,632
Series 2011-LC2A, Class A4,
       4.537%, 07/10/2044 (S) 1,391,000 1,518,641
Greenwich Capital Commercial
Funding Corp., Series 2005-GG5, Class A5
5.224%, 04/10/2037 (P) 1,187,000 1,215,644
GS Mortgage Securities Trust,
Series 2014-GC18, Class AAB
3.648%, 01/10/2047 1,114,000 1,157,271
GS Mortgage Securities Trust
3.650%, 09/12/2047 284,000 293,536
Series 2005-GG4, Class A4A,
       4.751%, 07/10/2039 562,062 566,393
Series 2013-GC16, Class A3,
       4.244%, 11/10/2046 875,000 936,026
Series 2013-GC16, Class AAB,
       3.813%, 11/10/2046 1,739,000 1,829,054
Series 2014-GC18, Class A4,
       4.074%, 01/10/2047 332,000 348,468
Series 2014-GC20, Class AAB,
       3.672%, 04/10/2047 1,387,000 1,440,714
Impact Funding LLC, Series 2010-1, Class A1
5.314%, 01/25/2051 (S) 3,560,246 4,006,957
JPMBB Commercial Mortgage Securities Trust
Series 2014-C21, Class ASB,
       3.428%, 08/15/2047 535,000 547,564
Series 2014-C22, Class A4,
       3.801%, 09/15/2047 329,000 337,638
Series 2014-C23, Class ASB,
       3.657%, 09/15/2047 700,000 724,598
JPMorgan Chase Commercial
Mortgage Securities Trust
Series 2010-C2, Class A3,
       4.070%, 11/15/2043 (S) 2,788,000 2,967,659
Series 2010-CNTR, Class A1,
       3.300%, 08/05/2032 (S) 508,046 526,403
Series 2012-C8, Class ASB,
       2.379%, 10/15/2045 875,000 863,407
JPMorgan Mortgage Trust, Series 2014-IVR3,
Class 2A1 3.000%, 09/25/2044 (P) (S) 557,000 562,744
LB-UBS Commercial Mortgage Trust,
Series 2004-C8, Class A6
4.799%, 12/15/2029 (P) 1,203 1,204
Merrill Lynch/Countrywide Commercial
Mortgage Trust, Series 2007-7, Class A4
5.810%, 06/12/2050 (P) 2,451,000 2,666,624
Morgan Stanley Bank of America
Merrill Lynch Trust
Series 2012-C6, Class A3,
       2.506%, 11/15/2045 1,593,000 1,575,812
Series 2013-C10, Class A1,
       1.394%, 07/15/2046 1,635,790 1,645,351
Series 2014-C15, Class ASB,
       3.654%, 04/15/2047 1,132,000 1,172,050
Morgan Stanley Capital I Trust,
Series 2011-C2, Class A2
3.476%, 06/15/2044 (S) 1,537,000 1,591,651

The accompanying notes are an integral part of the financial statements. 55


John Hancock Variable Insurance Trust

PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)


Core Bond Trust (continued)

        Shares or        
Principal
Amount Value
COLLATERALIZED MORTGAGE
OBLIGATIONS (continued)
Commercial and residential (continued)
Motel 6 Trust, Series 2012-MTL6, Class A2
1.948%, 10/05/2025 (S) $ 1,431,000   $ 1,430,378
46,186,215

U.S. government agency - 3.6%

Federal Home Loan Mortgage Corp.

  
Series 2014-HQ1, Class M1,
       1.807%, 08/25/2024 (P) 1,536,307   1,539,707
Series 2980, Class QA, 6.000%, 05/15/2035 1,690,734 1,880,712
Series 336, Class 300, 3.000%, 08/15/2044 9,347,381 9,223,529
Series 3529, Class AG, 6.500%, 04/15/2039 1,606,681 1,780,112
Series 3622, Class WA, 5.500%, 09/15/2039 2,475,469 2,775,959
Series 3664, Class DA, 4.000%, 11/15/2037 975,778 1,038,099
Series 3876, Class NB, 5.000%, 08/15/2038 2,065,759 2,242,369
Series T-48, Class 1A,
       5.686%, 07/25/2033 (P) 49,689 55,950
Series T-57, Class 1A2, 7.000%, 07/25/2043 646,500 741,897
Series T-57, Class 1A3, 7.500%, 07/25/2043 500,395 594,270
Series T-59, Class 1A3, 7.500%, 10/25/2043 692,844 818,872
Series T-60, Class 1A3, 7.500%, 03/25/2044 718,674 853,587
  Federal National Mortgage Association  
Series 2002-33, Class A2,
       7.500%, 06/25/2032 523,036 612,219
Series 2002-95, Class DB,
       6.000%, 01/25/2033 2,114,158 2,378,373
Series 2003-W17, Class 1A7,
       5.750%, 08/25/2033 1,011,000 1,093,018
Series 2005-5, Class PA,
       5.000%, 01/25/2035 655,652 706,473
Series 2006-56, Class CA,
       6.000%, 07/25/2036 417,326 457,619
Series 2009-20, Class DT,
       4.500%, 04/25/2039 1,938,955 2,069,961
Series 2012-134, Class LC,
       3.000%, 12/25/2042 1,590,191 1,580,967
Series 2013-9, Class CB,
       5.500%, 04/25/2042 161,158 178,803
32,622,496
TOTAL COLLATERALIZED MORTGAGE
OBLIGATIONS (Cost $78,683,061) $ 78,808,711
         
ASSET BACKED SECURITIES - 15.8%
Ally Auto Receivables Trust
Series 2010-5, Class A4,
       1.750%, 03/15/2016 994,744 996,157
Series 2011-5, Class A4,
       1.320%, 07/15/2016 893,402 895,808
Series 2012-1, Class A3,
       0.930%, 02/16/2016 144,235 144,354
Series 2012-2, Class A3,
       0.740%, 04/15/2016 743,316 743,917
Series 2013-1, Class A4,
       0.840%, 02/15/2018 1,504,000 1,500,663
Series 2014-1, Class A4,
       1.530%, 04/15/2019 6,074,000 6,054,691
Series 2014-2, Class A4,
       1.840%, 01/15/2020 213,000 212,985
Ally Master Owner Trust
Series 2012-5, Class A, 1.540%, 09/15/2019 1,295,000 1,287,444
Series 2014-4, Class A2,
       1.430%, 06/17/2019 1,954,000 1,947,003
American Express Credit Account
Master Trust, Series 2012-4, Class A
0.394%, 05/15/2020 (P)   4,224,000   4,214,158
American Express Issuance Trust II,
Series 2013-2, Class A
0.584%, 08/15/2019 (P) 2,275,000 2,280,430
AmeriCredit Automobile Receivables Trust,
Series 2013-2, Class A2
0.530%, 11/08/2016 146,522 146,551
Avis Budget Rental Car Funding AESOP LLC,
Series 2013-1A, Class A
1.920%, 09/20/2019 (S) 2,053,000 2,035,336
BA Credit Card Trust, Series 2014-A3,
Class A
0.444%, 01/15/2020 (P) 3,899,000 3,899,538
Bank of America Credit Card Trust,
Series 2007-A4, Class A4
0.194%, 11/15/2019 (P) 1,523,000 1,512,822
California Republic Auto Receivables Trust
Series 2014-2, Class A4,
       1.570%, 12/16/2019 559,000 555,610
Series 2014-3, Class A4,
       1.790%, 03/16/2020 495,000 493,579
Capital Auto Receivables Asset Trust
Series 2013-1, Class A3,
       0.790%, 06/20/2017 3,059,000 3,063,521
Series 2013-2, Class A2,
       0.920%, 09/20/2016 1,578,000 1,580,885
Series 2013-2, Class A4,
       1.560%, 07/20/2018 838,000 844,764
Series 2013-3, Class A4,
       1.680%, 04/20/2018 539,000 544,574
Series 2013-4, Class A3,
       1.090%, 03/20/2018 1,339,000 1,341,208
Series 2013-4, Class A4,
       1.470%, 07/20/2018 1,821,000 1,824,881
Series 2014-1, Class A3,
       1.320%, 06/20/2018 2,176,000 2,183,810
Series 2014-1, Class A4,
       1.690%, 10/22/2018 1,926,000 1,928,671
Series 2014-2, Class A1,
       0.454%, 06/20/2016 (P) 1,956,000 1,956,599
Series 2014-2, Class A3,
       1.260%, 05/21/2018 3,299,000 3,295,955
Series 2014-2, Class A4,
       1.620%, 10/22/2018 943,000 944,799
Capital One Multi-Asset Execution Trust,
Series 2013-A1, Class A1
0.630%, 11/15/2018 329,000 328,566
Chase Issuance Trust
Series 2012-A2, Class A2,
       0.424%, 05/15/2019 (P) 2,375,000 2,381,192
Series 2012-A8, Class A8,
       0.540%, 10/16/2017 1,258,000 1,257,918
Series 2013-A7, Class A,
       0.584%, 09/15/2020 (P) 1,976,000 1,984,264
Series 2013-A9, Class A,
       0.574%, 11/16/2020 (P) 3,107,000 3,113,431
Series 2014-A5, Class A5,
       0.524%, 04/15/2021 (P) 415,000 415,782
Series 2014-A6, Class A,
       1.260%, 07/15/2019 573,000 570,913

The accompanying notes are an integral part of the financial statements. 56


John Hancock Variable Insurance Trust

PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)


Core Bond Trust (continued)

Shares or
Principal
        Amount         Value
ASSET BACKED SECURITIES (continued)
Chrysler Capital Auto Receivables Trust,
Series 2014-BA, Class A3    
1.270%, 05/15/2019 (S) $ 561,000   $ 560,911
Citibank Credit Card Issuance Trust
Series 2012-A1, Class A1,
       0.550%, 10/10/2017 594,000 594,137
Series 2013-A7, Class A7,
         0.584%, 09/10/2020 (P) 4,557,000 4,574,608
Series 2014-A6, Class A6,
       2.150%, 07/15/2021 4,193,000 4,177,410
Series 2014-A8, Class A8,
       1.730%, 04/09/2020   1,128,000 1,127,878
Discover Card Execution Note Trust
Series 2013-A5, Class A5,
       1.040%, 04/15/2019 552,000 551,679
Series 2014-A1, Class A1,
       0.584%, 07/15/2021 (P) 1,827,000 1,830,144
Ford Credit Floorplan Master Owner Trust
Series 2012-2, Class A, 1.920%, 01/15/2019 2,601,000 2,642,052
Series 2014-1, Class A1,
       1.200%, 02/15/2019 2,640,000 2,631,172
MBNA Credit Card Master Note Trust,
Series 2004-A3, Class A3
0.414%, 08/16/2021 (P) 2,385,000 2,372,796
MMCA Auto Owner Trust, Series 2011-A,
Class A4
2.020%, 10/17/2016 (S) 262,021 262,947
Navient Student Loan Trust, Series 2014-1,
Class A2
0.465%, 03/27/2023 (P) 1,040,000 1,040,360
Nelnet Student Loan Trust
Series 2004-3, Class A5,
       0.414%, 10/27/2036 (P) 2,593,656 2,568,189
Series 2006-1, Class A4,
       0.325%, 11/23/2022 (P) 1,124,317 1,122,438
Series 2006-2, Class A4,
       0.314%, 10/26/2026 (P) 2,465,918 2,461,438
Series 2007-1, Class A1,
       0.245%, 11/27/2018 (P) 261,360 261,226
Series 2007-2A, Class A3L,
       0.584%, 03/25/2026 (P) (S) 4,198,933 4,170,897
Series 2010-4, Class A,
       0.955%, 04/25/2046 (P) (S) 751,446 759,226
Series 2014-3A, Class A,
       0.735%, 06/25/2041 (P) (S) 5,026,657 5,023,133
Nissan Auto Receivables Owner Trust,
Series 2014-A, Class A2
0.420%, 11/15/2016 1,067,976 1,067,885
Santander Drive Auto Receivables Trust
Series 2012-5, Class A3,
       0.830%, 12/15/2016 167,404 167,480
Series 2012-6, Class A3,
       0.620%, 07/15/2016 13,067 13,068
Series 2013-3, Class A2,
       0.550%, 09/15/2016 484,507 484,579
SLC Student Loan Trust, Series 2007-2,
Class A2
0.634%, 05/15/2028 (P) 605,077 605,135
SLM Private Education Loan Trust
Series 2012-A, Class A1,
       1.554%, 08/15/2025 (P) (S) 2,959,182 2,995,426
Series 2012-C, Class A1,
       1.254%, 08/15/2023 (P) (S) 1,635,967 1,647,149
Series 2012-D, Class A2,
       2.950%, 02/15/2046 (S) 706,000 728,019
Series 2012-E, Class A2B,
       1.904%, 06/15/2045 (P) (S) 2,433,000 2,512,228
Series 2013-B, Class A2A,
       1.850%, 06/17/2030 (S) 2,627,000 2,558,275
Series 2013-C, Class A1,
       1.004%, 02/15/2022 (P) (S) 2,613,977 2,626,406
Series 2013-C, Class A2A,
       2.940%, 10/15/2031 (S) 867,000 885,570
Series 2014-A, Class A1,
       0.754%, 07/15/2022 (P) (S) 624,161 624,628
Series 2014-A, Class A2A,
       2.590%, 01/15/2026 (S) 1,520,000 1,522,639
SLM Student Loan Trust
Series 2005-5, Class A3,
       0.334%, 04/25/2025 (P) 442,605 441,190
Series 2005-6, Class A5B,
       1.434%, 07/27/2026 (P) 825,120 839,745
Series 2005-9, Class A5,
       0.354%, 01/27/2025 (P) 1,007,999 1,006,116
Series 2006-3, Class A5,
       0.334%, 01/25/2021 (P) 1,857,000 1,833,126
Series 2006-5, Class A5,
       0.344%, 01/25/2027 (P) 5,009,000 4,957,913
Series 2007-2, Class B,
       0.404%, 07/25/2025 (P) 682,000 615,697
Series 2007-7, Class A4,
       0.304%, 04/25/2022 (P) 239,138 238,907
Series 2008-5, Class A3,
       1.534%, 01/25/2018 (P) 579,258 582,794
Series 2010-1, Class A,
       0.555%, 03/25/2025 (P) 2,506,569 2,506,509
Series 2012-3, Class A,
       0.805%, 12/26/2025 (P) 1,466,458 1,477,377
Series 2012-6, Class B,
       1.155%, 04/27/2043 (P) 1,228,000 1,144,354
Series 2013-1, Class B,
       1.955%, 11/25/2043 (P) 336,000 336,667
Series 2013-2, Class B,
       1.656%, 06/25/2043 (P) 1,009,000 986,055
Series 2013-3, Class A2,
       0.455%, 05/26/2020 (P) 1,225,000 1,224,288
Series 2013-3, Class B,
       1.655%, 09/25/2043 (P) 993,000 969,297
Series 2013-5, Class A2,
       0.555%, 10/26/2020 (P) 1,553,000 1,556,946
Series 2013-6, Class A2,
       0.655%, 02/25/2021 (P) 864,000 866,201
Series 2013-6, Class A3,
       0.805%, 06/26/2028 (P) 1,420,000 1,415,754
Series 2013-B, Class A1,
       0.804%, 07/15/2022 (P) (S) 1,172,285 1,173,966
Series 2014-1, Class A2,
       0.535%, 07/26/2021 (P) 1,642,000 1,646,233
Series 2014-2, Class A3,
       0.745%, 03/26/2029 (P) 1,433,000 1,440,932
Trade Maps 1, Ltd., Series 2013-1A, Class A
0.854%, 12/10/2018 (P) (S) 2,120,000 2,125,737
TOTAL ASSET BACKED SECURITIES (Cost $144,623,531) $ 145,039,711

The accompanying notes are an integral part of the financial statements. 57


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Core Bond Trust (continued)

Shares or
Principal
Amount Value
SECURITIES LENDING COLLATERAL - 0.6%  
John Hancock Collateral
       Investment Trust, 0.1178% (W) (Y) 581,299           5,817,114  
TOTAL SECURITIES LENDING
COLLATERAL (Cost $5,816,998) $ 5,817,114
 
SHORT-TERM INVESTMENTS - 1.0%
Money market funds - 1.0%
State Street Institutional Liquid Reserves
       Fund, 0.0853% (Y) 9,433,778 9,433,778
TOTAL SHORT-TERM INVESTMENTS (Cost $9,433,778) $ 9,433,778
Total Investments (Core Bond Trust)
       (Cost $1,002,745,436) - 110.3% $ 1,010,413,189
Other assets and liabilities, net - (10.3%) (94,635,848 )
TOTAL NET ASSETS - 100.0% $ 915,777,341
 
SALE COMMITMENTS OUTSTANDING - (0.2)%
U.S. government agency - (0.2)%
Federal National Mortgage Association
       3.500%, TBA (C) (1,700,000 ) (1,755,383 )
TOTAL SALE COMMITMENTS
OUTSTANDING (Cost $(1,733,469)) $ (1,755,383 )

Core Strategy Trust

Shares or
Principal
Amount Value
COMMON STOCKS - 0.0%
Consumer discretionary - 0.0%
Household durables - 0.0%
Urbi Desarrollos Urbanos SAB de CV (I) 6,600       $ 772
Consumer staples - 0.0%
Food products - 0.0%
Chaoda Modern Agriculture Holdings, Ltd. (I) 28,480 854
Financials - 0.0%
Banks - 0.0%
Irish Bank Resolution Corp., Ltd. (I) 3,621 0
Diversified financial services - 0.0%
SNS REAAL NV (I) 1,920 0
0
Health care - 0.0%
Health care providers and services - 0.0%
Medcath Corp. (I) 500 685
Industrials - 0.0%
Airlines - 0.0%
Virgin Australia Holdings, Ltd. 16,061 70
Metals and mining - 0.0%
China Metal Recycling Holdings, Ltd. (I) 7,800 0
70
Materials - 0.0%
Metals and mining - 0.0%
Timminco, Ltd. (I) 300 2
COMMON STOCKS (continued)
Paper and forest products - 0.0%
Gunns, Ltd. (I) 11,710 $ 0
2
TOTAL COMMON STOCKS (Cost $111,396) $ 2,383
   
INVESTMENT COMPANIES - 100.0%
John Hancock Variable Insurance Trust (G) - 100.0%
Bond Trust, Series NAV (John Hancock) (A)(1) 86,567,794 1,190,307,163
Strategic Equity Allocation, Series NAV
       (John Hancock) (A)(2) 161,668,917 2,748,371,584
TOTAL INVESTMENT COMPANIES (Cost $3,782,220,496) $ 3,938,678,747
Total Investments (Core Strategy Trust)
       (Cost $3,782,331,892) - 100.0% $ 3,938,681,130
Other assets and liabilities, net - 0.0% 439,911
TOTAL NET ASSETS - 100.0% $ 3,939,121,041

Emerging Markets Value Trust

Shares or
Principal
Amount Value
COMMON STOCKS - 96.9%
Australia - 0.0%
MMG, Ltd. 908,000       $ 317,492
Brazil - 6.5%
Banco ABC Brasil SA (I) 1,866 10,063
Banco Alfa de Investimento SA 35,100 91,200
Banco Santander Brasil SA, ADR 1,109,195 7,254,112
Bematech SA 89,350 297,134
BHG SA - Brazil Hospitality Group (I) 12,100 88,683
Brasil Pharma SA (I) 46,300 71,311
BrasilAgro - Companhia Brasileira de
       Propriedades Agricolas 12,800 47,377
Brookfield Incorporacoes SA (I) 606,694 379,222
Cia Providencia Industria e Comercio SA 52,100 174,536
CR2 Empreendimentos Imobiliarios SA (I) 9,300 10,372
Even Construtora e Incorporadora SA 261,400 582,016
Fertilizantes Heringer SA (I) 15,250 39,188
Fibria Celulose SA (I) 55,198 605,256
Fibria Celulose SA, ADR (I)(L) 180,847 1,989,317
Forjas Taurus SA (I) 15,575 5,409
Gafisa SA 27,961 33,813
Gafisa SA, ADR (L) 77,709 185,725
Gerdau SA 169,029 693,311
Gerdau SA, ADR 419,641 2,014,277
Industrias Romi SA 111,700 194,400
JBS SA 669,361 2,502,156
JHSF Participacoes SA 21,100 30,946
Log-in Logistica Intermodal SA (I) 79,900 176,921
Magnesita Refratarios SA 311,656 401,069
MMX Mineracao e Metalicos SA (I) 45,434 10,580
MRV Engenharia e Participacoes SA 168,165 564,042
Paranapanema SA (I) 427,650 368,641
PDG Realty SA Empreendimentos
       e Participacoes (I) 875,989 393,663
Petroleo Brasileiro SA 566,718 3,993,825
Petroleo Brasileiro SA, ADR 961,096 14,310,719
Petroleo Brasileiro SA, ADR 671,709 9,531,551
Positivo Informatica SA 36,800 31,873

The accompanying notes are an integral part of the financial statements. 58


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Emerging Markets Value Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Brazil (continued)
Profarma Distribuidora de
       Produtos Farmaceuticos SA 18,400       $ 84,492
QGEP Participacoes SA 47,960 182,024
Rodobens Negocios Imobiliarios SA 63,500 260,719
Rossi Residencial SA (I) 319,326 140,894
Sao Carlos Empreendimentos
       e Participacoes SA 7,005 102,739
Sao Martinho SA 2,592 41,616
SLC Agricola SA 52,278 350,478
Springs Global Participacoes SA (I) 185,253 56,005
Tecnisa SA 48,022 96,917
Tereos Internacional SA 72,800 77,031
TPI - Triunfo Participacoes e Investimentos SA 35,010 85,102
Trisul SA 56,446 88,782
Usinas Siderurgicas de Minas Gerais SA (I) 274,100 743,550
Vale SA 773,601 8,485,829
Vanguarda Agro SA (I) 170,452 139,272
58,018,158
Chile - 1.8%
CAP SA 20,760 220,042
Cementos BIO BIO SA 50,384 43,708
Cencosud SA 380,469 1,123,935
Cencosud SA, ADR (L) 2,400 21,624
Cia General de Electricidad SA 80,427 382,356
Cia Sud Americana de Vapores SA (I) 2,902,464 108,588
Corpbanca SA 6,649,828 84,928
Corpbanca SA, ADR 1,533 29,464
Cristalerias de Chile SA 66,213 453,764
Empresas CMPC SA 1,567,670 3,706,499
Empresas COPEC SA 2,369 29,084
Empresas Hites SA 46,731 21,457
Empresas Iansa SA 1,776,092 60,793
Empresas La Polar SA (I) 137,543 9,369
Enersis SA, ADR 427,137 6,740,222
Gasco SA 118,946 785,653
Inversiones Aguas Metropolitanas SA 215,464 329,845
Invexans SA (I) 10,353,871 138,482
Latam Airlines Group SA (I) 57,481 657,824
Latam Airlines Group SA, ADR (I)(L) 12,142 138,055
Masisa SA 5,383,654 215,845
PAZ Corp., SA 126,971 72,105
Ripley Corp. SA 552,472 297,748
Salfacorp SA 138,015 103,609
Sigdo Koppers SA 20,631 34,345
Sociedad Matriz SAAM SA 1,923,287 158,681
Socovesa SA 315,706 64,336
Tech Pack SA (I) 103,539 48,753
Vina Concha y Toro SA 47,974 93,587
Vina San Pedro Tarapaca SA 19,029,176 153,607
16,328,308
China - 11.2%
361 Degrees International, Ltd. 523,000 144,097
Agile Property Holdings, Ltd. 856,000 525,591
Agricultural Bank of China, Ltd., H Shares 10,499,000 4,646,828
Air China, Ltd., H Shares 1,010,000 639,650
Aluminum Corp. of China, Ltd.,
       H Shares (I)(L) 2,072,000 842,968
Angang Steel Company, Ltd., H Shares 1,026,000 649,431
Anhui Tianda Oil Pipe Company, Ltd.,
       H Shares 135,000 25,372
Asia Cement China Holdings Corp. 265,500 163,049
AVIC International Holdings, Ltd. (I) 152,000 108,406
Bank of China, Ltd., H Shares 32,963,694 14,724,782
Bank of Communications Company, Ltd.,
       H Shares 4,794,876 3,352,619
Baoye Group Company, Ltd., H Shares 376,000 234,379
BBMG Corp., H Shares 550,000 379,428
Beijing Capital International Airport
       Company, Ltd., H Shares 1,636,000 1,247,568
Beijing Capital Land, Ltd., H Shares 1,272,000 439,322
Beijing North Star Company, H Shares 866,000 233,195
BYD Electronic International Company, Ltd. 643,500 744,991
Central China Real Estate, Ltd. 531,732 125,283
China Aoyuan Property Group, Ltd. 1,387,000 221,543
China Automation Group, Ltd. 388,000 76,841
China CITIC Bank Corp., Ltd., H Shares 4,015,775 2,432,935
China Coal Energy Company, Ltd., H Shares 2,460,000 1,436,156
China Communications Construction
       Company, Ltd., H Shares 2,699,555 1,948,089
China Communications Services Corp., Ltd.,
       H Shares 787,200 363,870
China Construction Bank Corp., H Shares 6,177,000 4,327,779
China Dongxiang Group Company 2,254,000 423,073
China Dredging Environment
       Protection Holdings, Ltd. (I) 116,000 27,896
China Great Star International, Ltd. (I) 23,679 61,466
China Huiyuan Juice Group, Ltd. (I) 817,000 348,413
China ITS Holdings Company, Ltd. 528,000 79,528
China Merchants Bank Company, Ltd.,
       H Shares (L) 1,997,000 3,409,288
China National Building Material
       Company, Ltd., H Shares 2,256,000 2,047,496
China National Materials Company, Ltd.,
       H Shares 832,000 191,712
China Petroleum & Chemical Corp., ADR (L) 158,380 13,836,077
China Qinfa Group, Ltd. 424,000 19,128
China Railway Construction Corp., H Shares 1,395,665 1,264,748
China Railway Group, Ltd., H Shares 1,980,000 1,048,531
China Rare Earth Holdings, Ltd. (I) 1,000,000 131,196
China Rongsheng Heavy Industry
       Group Company, Ltd. (I)(L) 2,016,000 353,099
China SCE Property Holdings, Ltd. 535,200 103,302
China Shanshui Cement Group, Ltd. 1,166,000 416,326
China Shipping Container Lines Company, Ltd.,
       H Shares (I) 2,385,150 634,695
China Shipping Development Company, Ltd.,
       H Shares (I) 596,000 373,813
China Southern Airlines Company, Ltd.,
       H Shares 1,320,000 432,217
China Taifeng Beddings Holdings, Ltd. 204,000 30,460
China Tontine Wines Group, Ltd. (I) 248,000 10,841
China Yurun Food Group, Ltd. (I) 905,000 401,749
China ZhengTong Auto Services Holdings, Ltd. 277,500 162,349
China Zhongwang Holdings, Ltd. (L) 876,000 435,234
Chongqing Iron & Steel Company, Ltd.,
       H Shares (I) 286,000 65,262
Chongqing Machinery & Electric
       Company, Ltd., H Shares 632,000 97,547
Chu Kong Petroleum & Natural Gas Steel
       Pipe Holdings, Ltd. 312,000 102,467
Comtec Solar Systems Group, Ltd. (I)(L) 492,000 89,193
Dalian Port PDA Company, Ltd., H Shares 586,000 192,973
Daphne International Holdings, Ltd. 172,000 86,953
Dongyue Group, Ltd. 310,000 116,097
Evergrande Real Estate Group, Ltd. (L) 4,357,000 1,625,507

The accompanying notes are an integral part of the financial statements. 59


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Emerging Markets Value Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
China (continued)
Evergreen International Holdings, Ltd. 122,000       $ 13,655
Fantasia Holdings Group Company, Ltd. (L) 763,500 82,442
Fosun International, Ltd. 1,239,000 1,483,995
Fufeng Group, Ltd. 225,200 111,332
GOME Electrical Appliances Holdings, Ltd. 2,937,000 479,160
Greenland Hong Kong Holdings, Ltd. 353,625 135,644
Greentown China Holdings, Ltd. 397,000 371,740
Guangshen Railway Company, Ltd., ADR 35,688 701,626
Guangzhou Automobile Group Company, Ltd.,
       H Shares 512,415 494,425
Guangzhou R&F Properties Company, Ltd.,
       H Shares 736,400 743,347
Guodian Technology & Environment
       Group Corp., Ltd., H Shares 219,000 44,501
Hainan Meilan International Airport
       Company, Ltd., H Shares 201,000 157,861
Harbin Electric Company, Ltd., H Shares 888,000 532,254
Hidili Industry
       International Development, Ltd. (I)(L) 1,278,000 142,803
Industrial & Commercial Bank of China, Ltd.,
       H Shares 12,424,000 7,749,038
Jiangxi Copper Company, Ltd., H Shares 768,000 1,271,106
Jingwei Textile Machinery Company, Ltd.,
       H Shares 16,000 16,190
Kaisa Group Holdings, Ltd. (L) 1,211,000 463,001
KWG Property Holding, Ltd. 1,117,013 785,384
Leoch International Technology, Ltd. (I) 102,000 21,018
Lianhua Supermarket Holdings Company, Ltd.,
       H Shares (I) 114,000 61,095
Lingbao Gold Company, Ltd., H Shares 68,000 11,498
Lonking Holdings, Ltd. (L) 1,208,000 217,218
Maanshan Iron & Steel Company, Ltd.,
       H Shares (I)(L) 1,866,000 405,584
Maoye International Holdings, Ltd. 1,161,000 193,091
Metallurgical Corp. of China, Ltd., H Shares 2,211,000 603,674
O-Net Communications Group, Ltd. 244,000 66,785
Parkson Retail Group, Ltd. 807,000 234,439
Peak Sport Products Company, Ltd. 570,000 164,991
Powerlong Real Estate Holdings, Ltd. 816,000 105,047
Qunxing Paper Holdings Company, Ltd. (I) 634,371 168,624
Renhe Commercial
       Holdings Company, Ltd. (I)(L) 4,204,000 175,870
Sany Heavy Equipment International
       Holdings Company, Ltd. 451,000 100,330
Semiconductor Manufacturing
       International Corp., ADR (I) 130,196 662,698
Semiconductor
       Manufacturing International Corp. (I) 4,521,000 459,124
Shandong Chenming Paper Holdings, Ltd.,
       H Shares 335,500 161,400
Shanghai Jin Jiang International Hotels Group
       Company, Ltd., H Shares 368,000 131,909
Shanghai Prime Machinery Company, Ltd.,
       H Shares 962,000 179,939
Shengli Oil & Gas Pipe Holdings, Ltd. 268,500 15,892
Shui On Land, Ltd. 3,965,461 888,724
Sijia Group Company (I) 93,000 16,409
Sino-Ocean Land Holdings, Ltd. 3,556,715 1,865,779
Sinotrans, Ltd., H Shares 1,983,000 1,439,142
Sinotruk Hong Kong, Ltd. 836,500 454,007
SOHO China, Ltd. 2,018,500 1,460,039
Sunac China Holdings, Ltd. 830,000 628,455
Tiangong International Company, Ltd. (L) 624,000 145,496
Tianneng Power International, Ltd. 592,000 200,210
Tonly Electronics Holdings, Ltd. 1,520 1,259
Travelsky Technology, Ltd., H Shares 653,500 705,396
Weiqiao Textile Company, H Shares 603,000 300,644
West China Cement, Ltd. 1,894,000 177,593
Winsway Enterprises Holdings, Ltd. (I) 1,112,000 54,254
Xiamen International Port Company, Ltd.,
       H Shares 1,372,000 315,928
Xingda International Holdings, Ltd. 607,000 208,619
Xinhua Winshare Publishing and Media
       Company, Ltd., H Shares 614,000 540,464
Xinjiang Xinxin Mining Industry
       Company, Ltd., H Shares (I) 903,000 182,143
XTEP International Holdings, Ltd. 47,000 21,322
Yanzhou Coal Mining Company, Ltd., ADR 2,535 20,610
Yanzhou Coal Mining Company, Ltd., H Shares 1,276,000 1,047,102
Yuanda China Holdings, Ltd. 830,000 47,874
Yuzhou Properties Company 325,080 69,483
Zhejiang Glass Company, Ltd., H Shares (I) 162,000 0
Zhong An Real Estate, Ltd. 801,600 104,359
Zoomlion Heavy Industry Science and
       Technology Company, Ltd., H Shares 1,098,400 640,611
100,108,460
Colombia - 0.3%
Cementos Argos SA 12,272 65,451
Grupo Argos SA 20,634 231,305
Grupo de Inversiones Suramericana SA 105,279 2,112,864
Grupo Nutresa SA 28,795 393,888
2,803,508
Czech Republic - 0.5%
CEZ AS 100,718 3,061,934
Pegas Nonwovens SA 17,059 515,296
Unipetrol AS (I) 196,877 1,112,934
4,690,164
Greece - 0.3%
Alpha Bank AE (I) 895,279 694,045
Bank of Greece 1,882 28,601
Diagnostic & Therapeutic Center of
       Athens Hygeia SA (I) 17,059 5,259
Ellaktor SA (I) 80,249 309,112
GEK Terna Holding Real
       Estate Construction SA (I) 57,356 231,791
Hellenic Petroleum SA 50,445 329,958
Intracom Holdings SA (I) 102,565 62,558
Intralot SA-Integrated Lottery Systems
       & Services (I) 22,591 45,680
J&P-Avax SA (I) 935 1,407
Marfin Investment Group Holdings SA (I) 448,897 173,578
Mytilineos Holdings SA (I) 54,223 422,668
Piraeus Bank SA (I) 16,371 27,710
Sidenor Holdings SA (I) 188 275
2,332,642
Hong Kong - 3.7%
AMVIG Holdings, Ltd. 494,000 225,781
Anxin-China Holdings, Ltd. 1,648,000 167,721
Asian Citrus Holdings, Ltd. 499,000 103,546
AVIC International Holdings
       Hong Kong, Ltd. (I) 1,840,152 184,618
C C Land Holdings, Ltd. 1,048,084 183,104
Carrianna Group Holdings Company, Ltd. 182,675 26,535

The accompanying notes are an integral part of the financial statements. 60


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Emerging Markets Value Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Hong Kong (continued)
Chaoda Modern
       Agriculture Holdings, Ltd. (I)(L) 3,056,474       $ 91,696
Chigo Holding, Ltd. (I) 2,796,000 65,429
China Aerospace International Holdings, Ltd. 1,971,200 268,728
China Agri-Industries Holdings, Ltd. 1,232,300 467,520
China Chengtong Development Group, Ltd. (I) 526,000 27,117
China Energine International Holdings, Ltd. (I) 463,853 56,669
China Everbright, Ltd. 362,000 677,005
China Fiber Optic Network
       System Group, Ltd. (L) 334,000 96,548
China Glass Holdings, Ltd. 238,000 29,105
China High Precision
       Automation Group, Ltd. (I) 18,000 2,874
China High Speed Transmission Equipment
       Group Company, Ltd. (I) 938,000 761,175
China Lumena New Materials Corp. (I)(L) 2,036,000 327,759
China Merchants Land, Ltd. 942,000 123,549
China New Town
       Development Company, Ltd. (I) 1,505,165 76,356
China Nickel Resources
       Holding Company, Ltd. (I) 518,000 17,011
China Ocean Resources Company, Ltd. (I) 22,990 27,883
China Precious Metal Resources
       Holdings Company, Ltd. (I)(L) 1,726,000 204,548
China Properties Group, Ltd. (I) 724,000 149,948
China Resources Enterprises, Ltd. 60,000 142,027
China South City Holdings, Ltd. 556,000 258,268
China Starch Holdings, Ltd. 1,415,000 34,785
China Tianyi Holdings, Ltd. 248,000 34,093
China Travel International Investment
       Hong Kong, Ltd. 3,656,000 1,079,544
China Unicom Hong Kong, Ltd. 1,202,000 1,802,692
China Unicom Hong Kong, Ltd., ADR (L) 151,473 2,276,639
China Vanadium Titano - Magnetite
       Mining Company, Ltd. 548,000 57,895
China WindPower Group, Ltd. (I) 390,000 30,988
CITIC Pacific, Ltd. 719,130 1,207,591
CITIC Resources Holdings, Ltd. (I) 2,644,000 401,278
Citychamp Watch & Jewellery Group, Ltd. 716,000 105,929
Clear Media, Ltd. 52,000 54,113
Coastal Greenland, Ltd. (I) 780,000 27,638
Comba Telecom Systems Holdings, Ltd. 248,000 112,206
COSCO International Holdings, Ltd. 925,625 407,607
COSCO Pacific, Ltd. 1,381,265 1,835,539
DaChan Food Asia, Ltd. (I) 612,000 78,006
Dah Chong Hong Holdings, Ltd. 432,000 249,850
Dynasty Fine Wines Group, Ltd. (I) 330,000 61,199
EVA Precision Industrial Holdings, Ltd. 112,000 26,056
Franshion Properties China, Ltd. 3,012,000 740,301
Global Bio-Chem Technology
       Group Company, Ltd. (I) 2,520,000 97,614
Global Sweeteners Holdings, Ltd. (I) 148,000 7,655
Glorious Property Holdings, Ltd. (I) 2,284,000 349,874
Golden Meditech Holdings, Ltd. 654,364 106,145
Goldlion Holdings, Ltd. 261,000 108,941
Heng Tai Consumables Group, Ltd. (I) 3,363,862 57,173
Hengdeli Holdings, Ltd. 968,000 154,589
HKC Holdings, Ltd. (I) 4,298,149 105,053
Hopson Development Holdings, Ltd. (I) 850,000 731,955
Hutchison Harbour Ring, Ltd. (L) 732,000 59,313
Inspur International, Ltd. 488,000 117,409
Ju Teng International Holdings, Ltd. 528,000 303,834
Kai Yuan Holdings, Ltd. (I) 2,980,000 46,214
Kingboard Chemical Holdings, Ltd. 734,130 1,457,624
Kingboard Laminates Holdings, Ltd. 546,500 228,507
Lai Fung Holdings, Ltd. 8,970,000 190,179
Loudong General Nice Resources
       China Holdings, Ltd. (I) 590,400 38,824
MIE Holdings Corp. 644,000 84,626
MIN XIN Holdings, Ltd. 116,000 68,607
Mingyuan Medicare
       Development Company, Ltd. (I) 1,300,000 43,538
Minmetals Land, Ltd. 798,000 90,286
Nan Hai Corp., Ltd. (I) 27,150,000 167,858
New World China Land, Ltd. 2,335,200 1,322,995
New World Department Store China, Ltd. 175,000 60,860
Nine Dragons Paper Holdings, Ltd. 1,201,000 861,589
Poly Property Group Company, Ltd. 1,500,453 576,249
Ports Design, Ltd. 148,000 58,679
Pou Sheng International Holdings, Ltd. (I) 1,036,000 88,152
Prosperity International Holdings HK, Ltd. (I) 1,320,000 50,166
Qingling Motors Company, Ltd., H Shares 1,054,000 310,700
Real Nutriceutical Group, Ltd. 613,000 209,707
REXLot Holdings, Ltd. 14,231 1,440
Rotam Global Agrosciences, Ltd. 7,434 14,335
Samson Holding, Ltd. 529,548 70,257
Shanghai Industrial Holdings, Ltd. 486,000 1,438,928
Shanghai Industrial Urban
       Development Group, Ltd. (I) 775,000 148,676
Shanghai Zendai Property, Ltd. (I) 2,530,000 34,530
Shenzhen International Holdings, Ltd. 786,967 1,072,962
Shenzhen Investment, Ltd. 2,699,506 760,570
Shimao Property Holdings, Ltd. 189,000 381,299
Shougang Concord International
       Enterprises Company, Ltd. (I) 4,306,000 188,115
Shougang Fushan Resources Group, Ltd. (L) 2,306,000 516,218
Silver Grant International, Ltd. 1,072,000 149,064
SIM Technology Group, Ltd. (I) 975,000 50,730
Sino Oil And Gas Holdings, Ltd. (I) 6,490,000 195,302
Sinofert Holdings, Ltd. 2,924,000 414,273
Sinolink Worldwide Holdings, Ltd. (I) 2,292,000 185,506
Sinotrans Shipping, Ltd. (I) 842,000 230,666
Skyworth Digital Holdings, Ltd. 800,000 414,956
SMI Corp., Ltd. 1,280,000 49,608
Solargiga Energy Holdings, Ltd. (I) 354,000 18,438
SRE Group, Ltd. 3,206,857 92,553
Superb Summit International Group, Ltd. (I) 215,000 44,587
TCC International Holdings, Ltd. 696,000 274,297
TCL Multimedia Technology Holdings, Ltd. (I) 351,200 124,978
Tian An China Investment, Ltd. 741,000 492,625
Tianjin Port Development Holdings, Ltd. 942,000 177,931
Tomson Group, Ltd. 408,805 110,479
TPV Technology, Ltd. 583,684 116,497
V1 Group, Ltd. (I) 719,400 72,890
Yanchang Petroleum International, Ltd. (I) 2,560,000 136,492
Yuexiu Property Company, Ltd. 6,065,250 1,083,483
32,604,069
Hungary - 0.3%
Danubius Hotel and Spa PLC (I) 6,420 134,101
MOL Hungarian Oil and Gas PLC 163 7,982
OTP Bank PLC 138,932 2,352,364
2,494,447
India - 8.6%
Aarti Industries, Ltd. 51,087 227,960
Aban Offshore, Ltd. 15,263 145,755

The accompanying notes are an integral part of the financial statements. 61


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Emerging Markets Value Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
India (continued)
ABG Shipyard, Ltd. (I) 8,406       $ 30,510
Adani Enterprises, Ltd. 164,157 1,248,213
Aditya Birla Nuvo, Ltd. 55,261 1,444,706
Allahabad Bank 186,565 297,651
Alok Industries, Ltd. 568,576 107,792
Amtek Auto, Ltd. 146,074 477,877
Amtek India, Ltd. 21,314 31,858
Anant Raj, Ltd. 54,720 48,610
Andhra Bank 198,888 209,746
Apollo Tyres, Ltd. 226,563 741,943
Arvind, Ltd. 118,136 563,238
Ashok Leyland, Ltd. 722,040 481,772
Atul, Ltd. 3,642 82,097
Bajaj Finance, Ltd. 9,747 429,843
Bajaj Finserv, Ltd. 5,259 96,139
Bajaj Hindusthan, Ltd. (I) 344,964 98,637
Bajaj Holdings and Investment, Ltd. 49,155 1,107,812
Ballarpur Industries, Ltd. 403,880 107,160
Balmer Lawrie & Company, Ltd. 8,925 86,937
Balrampur Chini Mills, Ltd. (I) 206,266 167,093
Bank of Baroda 83,523 1,272,129
Bank of India 114,231 425,051
Bank of Maharashtra 152,501 103,738
BEML, Ltd. 14,453 142,882
BGR Energy Systems, Ltd. 7,989 19,354
Bharat Heavy Electricals, Ltd. 379,212 1,216,371
Bhushan Steel, Ltd. 46,011 87,656
Birla Corp., Ltd. 41,435 317,914
Bombay Burmah Trading Company 15,000 61,153
Bombay Dyeing &
       Manufacturing Company, Ltd. 60,098 66,368
Bombay Rayon Fashions, Ltd. (I) 7,468 17,771
Cairn India, Ltd. 500,316 2,517,613
Canara Bank 98,171 553,686
Central Bank of India (I) 54,446 53,259
Century Textiles & Industries, Ltd. 34,929 305,751
Chambal Fertilizers & Chemicals, Ltd. 88,262 83,967
City Union Bank, Ltd. 203,343 282,896
Claris Lifesciences, Ltd. 3,599 10,210
Corporation Bank 11,690 59,740
Cox & Kings, Ltd. 28,668 146,167
Crompton Greaves, Ltd. 11,838 38,250
Dalmia Bharat, Ltd. 12,925 90,051
DB Realty, Ltd. (I) 35,138 38,407
DCB Bank, Ltd. (I) 121,079 164,195
DCM Shriram, Ltd. 39,804 156,146
Deepak Fertilizers & Petrochemicals Corp., Ltd. 28,839 74,615
DEN Networks, Ltd. (I) 8,545 20,332
Dena Bank 77,102 72,033
DLF, Ltd. 277,078 670,149
Edelweiss Financial Services, Ltd. 304,550 228,627
EID Parry India, Ltd. 80,296 296,674
EIH, Ltd. 25,377 40,908
Electrosteel Castings, Ltd. 89,970 31,239
Eros International Media, Ltd. (I) 10,300 44,871
Escorts, Ltd. 44,637 108,813
Essar Oil, Ltd. (I) 44,458 82,862
Essar Ports, Ltd. 31,778 45,199
Essel Propack, Ltd. 37,352 68,844
Federal Bank, Ltd. 817,670 1,658,634
Financial Technologies India, Ltd. 12,955 46,582
Finolex Cables, Ltd. 54,200 187,980
Finolex Industries, Ltd. 34,328 181,402
Firstsource Solutions, Ltd. (I) 137,281 89,172
Fortis Healthcare, Ltd. (I) 83,364 157,784
GAIL India, Ltd. 126,384 910,539
Gateway Distriparks, Ltd. 10,919 45,078
Gitanjali Gems, Ltd. (I) 43,160 44,412
Graphite India, Ltd. 75,117 122,762
Grasim Industries, Ltd. 28,107 1,671,221
GTL Infrastructure, Ltd. (I) 100,276 4,879
Gujarat Alkalies & Chemicals, Ltd. 24,028 79,740
Gujarat Fluorochemicals, Ltd. 11,921 128,643
Gujarat Mineral Development Corp., Ltd. 26,383 61,596
Gujarat Narmada Valley Fertilizers
       & Chemicals, Ltd. 66,143 100,078
Gujarat NRE Coke, Ltd. (I) 166,598 20,735
Gujarat State Fertilisers & Chemicals, Ltd. 105,690 197,130
Gujarat State Petronet, Ltd. 109,920 167,277
HCL Infosystems, Ltd. (I) 126,394 169,958
HEG, Ltd. 12,877 59,738
HeidelbergCement India, Ltd. (I) 4,823 6,849
Hexa Tradex, Ltd. (I) 32,971 14,352
Hindalco Industries, Ltd. 711,333 1,790,523
Hinduja Ventures, Ltd. 5,620 27,240
Hindustan Construction Company, Ltd. (I) 182,894 97,554
Hotel Leela Venture, Ltd. (I) 112,448 40,116
Housing Development & Infrastructure, Ltd. (I) 220,761 298,039
HSIL, Ltd. 5,997 34,373
Ht Media Ltd. 10,959 19,823
ICICI Bank, Ltd. 15,010 347,698
IDBI Bank, Ltd. 267,194 262,616
IDFC, Ltd. 119,156 276,784
IFCI, Ltd. 181,420 104,450
IIFL Holdings, Ltd. 213,160 522,248
IL&FS Transportation Networks, Ltd. 10,458 29,667
Indiabulls Housing Finance, Ltd. 178,941 1,169,474
Indiabulls Infrastructure and Power, Ltd. (I) 930,247 66,457
Indian Bank 70,234 173,733
Indian Hotels Company, Ltd. 275,375 434,578
Indian Overseas Bank 234,477 214,856
ING Vysya Bank, Ltd. 16,192 157,075
Ingersoll-Rand India, Ltd. 14,510 164,292
Jain Irrigation Systems, Ltd. 143,549 186,992
Jaiprakash Associates, Ltd. (I) 796,755 341,975
Jammu & Kashmir Bank, Ltd. 337,950 771,234
Jaypee Infratech, Ltd. (I) 123,242 45,245
JB Chemicals & Pharmaceuticals, Ltd. 20,800 75,803
JBF Industries, Ltd. 14,713 36,926
Jindal Saw, Ltd. 164,858 212,762
Jindal Stainless, Ltd. (I) 17,139 10,204
Jindal Steel & Power, Ltd. 181,901 511,135
JK Cement, Ltd. 8,306 74,672
JK Lakshmi Cement, Ltd. 13,182 76,223
JM Financial, Ltd. 124,021 78,132
JSW Energy, Ltd. 408,574 464,800
JSW Steel, Ltd. 93,372 1,741,110
Jubilant Life Sciences, Ltd. 53,395 133,592
Kalpataru Power Transmission, Ltd. 20,383 50,604
KEC International, Ltd. 41,793 72,676
Kesoram Industries, Ltd. 64,015 128,802
Lakshmi Vilas Bank, Ltd. 30,751 37,313
Mahanagar Telephone Nigam (I) 22,519 9,831
Maharashtra Seamless, Ltd. 38,253 198,140
Mahindra Lifespace Developers, Ltd. 10,600 88,549
MAX India, Ltd. 4,595 23,624

The accompanying notes are an integral part of the financial statements. 62


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Emerging Markets Value Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
India (continued)
McLeod Russel India, Ltd. 48,101       $ 226,962
Mercator, Ltd. 150,335 70,540
MOIL, Ltd. 3,305 15,296
Monnet Ispat & Energy, Ltd. 10,818 13,493
Mphasis, Ltd. 8,247 57,277
MRF, Ltd. 748 396,015
Nagarjuna Fertilizers & Chemicals, Ltd. (I) 138,250 23,708
Nagarjuna Oil Refinery, Ltd. (I) 125,682 9,945
National Aluminium Company, Ltd. 108,688 101,086
Nava Bharat Ventures, Ltd. 1,614 5,568
NCC, Ltd. 263,914 166,899
NIIT Technologies, Ltd. 11,765 76,210
NIIT, Ltd. 19,897 16,395
Noida Toll Bridge Company, Ltd. 14,396 7,488
Oberoi Realty, Ltd. 5,055 17,782
OMAXE, Ltd. 62,405 130,199
Orient Cement, Ltd. 58,165 124,553
Oriental Bank of Commerce 101,465 373,910
Panacea Biotec, Ltd. (I) 3,909 11,067
Parsvnath Developers, Ltd. (I) 76,316 27,092
Peninsula Land, Ltd. 39,087 21,181
Piramal Enterprises, Ltd. 52,252 644,129
Plethico Pharmaceuticals, Ltd. (I) 7,219 5,583
Polaris Financial Technology, Ltd. 46,452 188,212
Polyplex Corp., Ltd. 3,400 13,893
Praj Industries, Ltd. 42,222 44,998
Prism Cement, Ltd. (I) 42,974 50,760
PTC India Financial Services, Ltd. 29,410 21,391
PTC India, Ltd. 233,522 320,359
Punj Lloyd, Ltd. (I) 165,098 93,952
Puravankara Projects, Ltd. 10,348 17,005
Rain Industries, Ltd. 46,818 36,712
Raymond, Ltd. 30,886 216,408
Redington India, Ltd. 18,486 27,747
REI Agro, Ltd. 214,503 9,206
Reliance Communications, Ltd. 345,117 548,932
Reliance Industries, Ltd. 305,885 4,661,848
Reliance Industries, Ltd., GDR (S) 293,879 8,964,744
Reliance Power, Ltd. (I) 588,041 665,711
Rolta India, Ltd. 133,332 244,028
Ruchi Soya Industries, Ltd. 125,412 76,797
Sadbhav Engineering, Ltd. 17,023 61,382
Sesa Sterlite, Ltd. 261,131 1,146,944
Sesa Sterlite, Ltd., ADR 212,366 3,665,437
Shipping Corp. of India, Ltd. (I) 104,070 95,901
Shree Renuka Sugars, Ltd. 23,731 6,166
Sintex Industries, Ltd. 97,140 113,000
Sobha Developers, Ltd. 40,327 263,799
SREI Infrastructure Finance, Ltd. 247,892 189,665
SRF, Ltd. 24,910 310,960
State Bank of Bikaner & Jaipur 899 8,074
State Bank of India 144,744 5,706,918
State Bank of India, GDR 435 34,243
Sterlite Technologies, Ltd. 72,209 82,424
Strides Arcolab, Ltd. 7,164 84,487
Sundaram Finance, Ltd. 873 18,451
Sundram Fasteners, Ltd. 12,928 31,731
Suzlon Energy, Ltd. (I) 599,974 124,336
Syndicate Bank 206,951 364,905
Tata Chemicals, Ltd. 96,921 626,432
Tata Communications, Ltd. 50,645 292,780
Tata Global Beverages, Ltd. 467,750 1,203,348
Tata Steel, Ltd. 344,558 2,543,824
Tata Steel, Ltd., GDR 743 5,502
The Great Eastern Shipping Company, Ltd. 84,512 591,142
The India Cements, Ltd. 258,302 467,634
The Karnataka Bank, Ltd. 180,381 327,779
The Karur Vysya Bank, Ltd. 30,968 266,179
The Ramco Cements, Ltd. 36,000 187,958
The South Indian Bank, Ltd. 1,171,770 490,123
Time Technoplast, Ltd. 4,194 3,404
Tube Investments of India, Ltd. 4,492 23,552
TV18 Broadcast, Ltd. (I) 248,227 111,834
UCO Bank 85,194 108,979
Uflex, Ltd. 10,885 26,027
Union Bank of India, Ltd. 169,587 514,019
Unitech, Ltd. (I) 227,324 68,860
UPL, Ltd. 227,990 1,259,276
Usha Martin, Ltd. (I) 154,885 58,574
Uttam Galva Steels, Ltd. (I) 13,863 16,590
Vardhman Special Steels, Ltd. (I) 1,620 958
Vardhman Textiles, Ltd. 8,101 57,720
Videocon Industries, Ltd. 105,664 287,245
Vijaya Bank 83,311 64,324
Voltas, Ltd. 31,368 121,479
Welspun Corp, Ltd. 55,523 69,957
Welspun Enterprises, Ltd. (I) 2,776 8,360
Wockhardt, Ltd. 7,433 95,722
Zensar Technologies, Ltd. 2,138 21,104
Zuari Agro Chemicals, Ltd. 9,200 29,601
Zuari Global, Ltd. 9,200 13,676
76,995,587
Indonesia - 3.0%
Adaro Energy Tbk PT 16,373,500 1,576,122
Agung Podomoro Land Tbk PT 5,405,000 151,954
Alam Sutera Realty Tbk PT 10,411,400 387,800
Aneka Tambang Persero Tbk PT 5,527,500 501,770
Asahimas Flat Glass Tbk PT 65,500 40,077
Bakrie & Brothers Tbk PT (I) 121,836,489 499,945
Bakrie Sumatera Plantations Tbk PT (I) 11,376,500 46,684
Bakrie Telecom Tbk PT (I) 24,850,000 101,970
Bakrieland Development Tbk PT (I) 41,455,500 170,109
Bank Bukopin Tbk PT 4,493,500 263,256
Bank Danamon Indonesia Tbk PT 4,277,594 1,369,591
Bank Mandiri Persero Tbk PT 2,434,420 2,013,277
Bank Negara Indonesia Persero Tbk PT 6,062,581 2,739,538
Bank Pan Indonesia Tbk PT (I) 4,924,397 393,717
Bank Pembangunan Daerah Jawa Barat Dan
       Banten Tbk PT 2,121,500 138,483
Bank Tabungan Negara Persero Tbk PT 3,842,861 368,243
Barito Pacific Tbk PT (I) 1,893,500 42,431
Benakat Petroleum Energy Tbk PT (I) 8,689,500 89,065
Berau Coal Energy Tbk PT (I) 2,215,500 22,862
Berlian Laju Tanker Tbk PT (I) 16,708,166 0
BISI International PT 1,105,000 44,719
Borneo Lumbung Energi & Metal Tbk PT (I) 239,000 1,567
Budi Starch & Sweetener Tbk PT (I) 1,493,000 13,606
Bumi Serpong Damai Tbk PT 1,130,800 143,235
Central Proteinaprima Tbk PT (I) 16,930,000 69,471
Ciputra Development Tbk PT 13,649,600 1,136,516
Ciputra Property Tbk PT 1,844,000 110,375
Ciputra Surya Tbk PT 896,000 155,023
Clipan Finance Indonesia Tbk PT (I) 1,045,000 37,676
Darma Henwa Tbk PT (I) 21,675,000 88,941
Davomas Abadi Tbk PT (I) 2,465,000 10,115
Delta Dunia Makmur Tbk PT (I) 3,330,800 70,701

The accompanying notes are an integral part of the financial statements. 63


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Emerging Markets Value Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Indonesia (continued)
Elnusa Tbk PT 3,143,700       $ 162,054
Energi Mega Persada Tbk PT (I) 39,318,681 331,960
Erajaya Swasembada Tbk Pt (I) 1,248,500 108,504
Exploitasi Energi Indonesia Tbk PT (I) 1,289,000 19,568
Gajah Tunggal Tbk PT 2,229,300 283,339
Garuda Indonesia Persero Tbk PT (I) 2,909,563 99,092
Global Mediacom Tbk PT 808,500 128,950
Gozco Plantations Tbk PT (I) 3,863,400 29,795
Harum Energy Tbk PT 811,700 135,971
Hexindo Adiperkasa Tbk PT 110,000 34,023
Holcim Indonesia Tbk PT 1,143,068 243,488
Indah Kiat Pulp & Paper Corp. Tbk PT (I) 2,423,200 209,488
Indika Energy Tbk PT (I) 1,851,000 112,225
Indo Tambangraya Megah Tbk PT 199,400 424,155
Indofood Sukses Makmur Tbk PT 3,510,200 2,012,405
Intiland Development Tbk PT 4,188,900 199,377
Japfa Comfeed Indonesia Tbk PT 108,170 10,910
Kawasan Industri Jababeka Tbk PT 14,873,529 300,061
Krakatau Steel Persero Tbk PT (I) 658,500 26,445
Lippo Karawaci Tbk PT 19,859,493 1,532,709
Medco Energi Internasional Tbk PT 2,465,000 720,898
Mitra International Resources Tbk PT (I) 1,747,000 7,172
MNC Investama Tbk PT 18,575,000 530,691
Modernland Realty Tbk PT 1,877,500 81,594
Multipolar Tbk PT 5,511,400 469,487
Nusantara Infrastructure Tbk PT (I) 3,748,800 60,305
Pabrik Kertas Tjiwi Kimia Tbk PT 145,000 11,473
Panin Financial Tbk PT (I) 19,315,500 440,257
Paninvest Tbk PT (I) 1,627,000 87,107
Perusahaan Perkebunan London Sumatra
       Indonesia Tbk PT 3,514,500 547,063
Petrosea Tbk PT 210,500 20,726
Ramayana Lestari Sentosa Tbk PT 1,938,400 147,126
Salim Ivomas Pratama Tbk PT 4,190,100 282,334
Sampoerna Agro Tbk PT 703,500 116,357
Sentul City Tbk PT (I) 19,986,000 164,495
Sigmagold Inti Perkasa Tbk PT (I) 1,846,000 68,319
Surya Semesta Internusa Tbk PT 3,749,600 227,195
Suryainti Permata Tbk PT (I) 1,446,000 0
Tiga Pilar Sejahtera Food Tbk (I) 1,257,900 236,136
Timah Persero Tbk PT 4,287,660 430,508
Trias Sentosa Tbk PT 2,019,500 58,128
Trimegah Securities Tbk PT (I) 870,700 4,936
Truba Alam Manunggal Engineering PT (I) 11,991,500 12,794
Tunas Baru Lampung Tbk PT 1,620,000 88,871
Tunas Ridean Tbk PT 2,272,500 129,634
United Tractors Tbk PT 1,036,600 1,692,799
Vale Indonesia Tbk PT 1,861,600 571,047
Visi Media Asia Tbk PT (I) 939,500 35,394
XL Axiata Tbk PT 456,600 232,333
26,678,537
Malaysia - 5.0%
Affin Holdings BHD 924,690 957,737
AirAsia BHD 1,186,100 914,052
Alliance Financial Group BHD 344,800 524,449
AMMB Holdings BHD 1,721,562 3,604,262
Ann Joo Resources BHD 252,200 99,117
Benalec Holdings BHD 293,500 80,937
Berjaya Corp. BHD 2,315,900 398,779
BIMB Holdings BHD 106,500 140,559
Boustead Holdings BHD 519,776 792,084
Boustead Plantations BHD 120,100 56,647
Cahya Mata Sarawak BHD 266,700 353,381
Can-One BHD 29,200 21,693
DRB-Hicom BHD 1,194,900 830,217
Eastern & Oriental BHD 221,100 193,431
ECM Libra Financial Group BHD (I) 175,561 57,210
Engtex Group BHD 27,900 17,252
Eversendai Corp. BHD 97,000 27,490
Faber Group BHD 106,500 105,779
Genting BHD 438,200 1,266,988
Genting Malaysia BHD 1,651,900 2,104,349
Glomac BHD 462,600 160,734
Goldis BHD (I) 324,635 235,346
Hap Seng Consolidated BHD 1,329,320 1,612,591
Hap Seng Plantations Holdings BHD 617,500 474,568
Hong Leong Financial Group BHD 277,200 1,485,579
Hong Leong Industries BHD 25,000 64,182
Hua Yang BHD 73,066 52,071
Hwang-DBS Malaysia BHD 105,200 63,017
IGB Corp. BHD 1,504,343 1,316,126
IJM Corp. BHD 1,302,680 2,570,727
IJM Land BHD 234,300 236,267
Inch Kenneth Kajang Rubber 106,800 27,972
Insas BHD 494,969 185,403
JAKS Resources BHD (I) 246,000 54,022
Jaya Tiasa Holdings BHD 299,826 194,707
JCY International BHD 265,600 51,349
K&N Kenanga Holdings BHD (I) 402,145 86,957
Karambunai Corp. BHD (I) 1,978,300 51,122
Keck Seng Malaysia BHD 209,400 395,578
Kian JOO CAN Factory BHD 290,000 263,187
Kim Loong Resources BHD 32,400 27,763
Kinsteel BHD (I) 138,700 10,136
KLCC Property Holdings BHD 214,600 434,695
KNM Group BHD (I) 1,152,000 317,548
KSL Holdings BHD (I) 267,333 381,661
KUB Malaysia BHD (I) 534,400 92,694
Kulim Malaysia BHD (I) 878,300 870,042
Kumpulan Fima BHD 2,300 1,592
Kumpulan Perangsang Selangor BHD 171,000 79,725
Kwantas Corp. BHD 56,000 35,819
Land & General BHD 163,200 31,342
Landmarks BHD (I) 384,900 148,760
LBS Bina Group BHD 210,000 108,195
Lion Industries Corp. BHD 736,100 143,542
Magnum BHD 165,500 151,211
Mah Sing Group BHD 185,600 137,356
Malayan Flour Mills BHD 132,300 78,658
Malaysia Airports Holdings BHD 44,164 100,915
Malaysian Airline System BHD (I) 721,000 57,019
Malaysian Bulk Carriers BHD 194,100 98,214
Malaysian Pacific Industries BHD 64,375 111,041
Malaysian Resources Corp. BHD 1,062,000 530,747
MBM Resources BHD 78,650 68,297
Media Prima BHD 123,300 83,760
Mega First Corp. BHD 163,700 132,742
MISC BHD 807,800 1,662,095
MK Land Holdings BHD 632,500 91,459
MKH BHD 75,100 84,854
MMC Corp. BHD 1,118,700 812,733
MNRB Holdings BHD 10,000 13,638
Mudajaya Group BHD 201,700 122,360
Muhibbah Engineering Malaysia BHD 5,800 5,499
Mulpha International BHD (I) 2,622,700 363,982
Naim Holdings BHD 198,100 210,690

The accompanying notes are an integral part of the financial statements. 64


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Emerging Markets Value Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Malaysia (continued)
NCB Holdings BHD 4,100       $ 3,557
Oriental Holdings BHD 499,020 1,157,049
OSK Holdings BHD 871,698 571,271
Panasonic Manufacturing Malaysia BHD 39,700 242,025
Pantech Group Holdings BHD 86,200 28,593
Parkson Holdings BHD (I) 179,582 157,864
Perdana Petroleum BHD (I) 51,820 28,586
PJ Development Holdings BHD 258,900 156,879
PPB Group BHD 536,200 2,316,602
Press Metal BHD 75,700 144,170
Protasco BHD 172,400 87,689
RHB Capital BHD 179,524 482,932
Rimbunan Sawit BHD (I) 325,600 69,027
Salcon BHD 432,400 109,283
Scomi Group BHD (I) 1,708,300 210,649
Selangor Dredging BHD 326,900 114,523
Selangor Properties BHD 105,000 186,612
Shangri-La Hotels Malaysia BHD 96,000 211,307
Shell Refining Company Federation of
       Malaya BHD 161,700 291,015
SHL Consolidated BHD 172,300 189,229
SP Setia BHD 162,427 170,556
Star Publications Malaysia BHD 37,400 29,184
Sunway BHD 1,145,696 1,201,261
Supermax Corp. BHD 54,000 36,213
Suria Capital Holdings BHD 237,900 192,131
Symphony Life BHD 195,252 63,610
TA Ann Holdings BHD 344,990 413,505
TA Enterprise BHD 1,903,200 559,447
TA Global BHD 1,233,900 145,242
TAN Chong Motor Holdings BHD 42,500 59,212
Tanjung Offshore BHD (I) 222,400 37,967
TDM BHD 1,030,200 293,305
Tebrau Teguh BHD (I) 59,700 28,903
TH Plantations BHD 36,880 19,433
Time dotCom BHD (I) 312,700 487,608
Tiong NAM Logistics Holdings 48,800 18,602
Tropicana Corp. BHD 307,700 119,039
UEM Sunrise BHD 141,200 78,251
Unisem M BHD 601,680 299,005
United Malacca BHD 97,800 208,423
UOA Development BHD 299,600 192,445
VS Industry BHD 166,770 131,692
Wah Seong Corp. BHD 106,863 57,603
WCT Holdings BHD 614,635 404,198
Wing Tai Malaysia BHD 124,000 75,623
WTK Holdings BHD 368,500 149,218
YNH Property BHD 662,715 421,988
YTL Corp. BHD 5,036,140 2,578,666
YTL Land & Development BHD (I) 52,700 14,876
44,974,770
Mexico - 6.1%
Alfa SAB de CV, Class A 1,431,574 4,924,517
Alpek SA de CV (L) 142,911 263,253
Arca Continental SAB de CV 113,893 781,872
Axtel SAB de CV (I)(L) 982,700 286,824
Bio Pappel SAB de CV (I) 41,929 80,795
Cemex SAB de CV, ADR (I)(L) 691,762 9,020,576
Cia Minera Autlan SAB de CV, Series B 72,500 82,376
Coca-Cola Femsa SAB de CV, ADR 796 80,173
Consorcio ARA SAB de CV (I) 1,104,021 502,257
Controladora Comercial Mexicana SAB de CV 328,408 1,230,200
Corp. Actinver SAB de CV 19,397 23,137
Corporacion GEO SAB de CV, Series B (I) 793,874 6,054
Desarrolladora Homex SAB de CV (I) 91,100 15,032
Empresas ICA SAB de CV (I) 32,446 56,048
Empresas ICA SAB de CV, ADR (I)(L) 183,540 1,270,097
Gruma SAB de CV, ADR (I) 4,897 209,641
Grupo Aeromexico SAB de CV (I)(L) 75,581 111,989
Grupo Aeroportuario del Centro Norte
       SAB de CV (I) 146,286 645,246
Grupo Aeroportuario del Pacifico SAB
       de CV, ADR 73,183 4,935,462
Grupo Aeroportuario del Sureste SAB
       de CV, ADR 7,887 1,013,401
Grupo Carso SAB de CV, Series A1 594,584 3,472,631
Grupo Cementos de Chihuahua SAB de CV 35,500 95,553
Grupo Comercial Chedraui SA de CV (L) 155,267 548,328
Grupo Elektra SAB DE CV 18,224 515,477
Grupo Famsa SAB de CV, Class A (I) 357,718 353,709
Grupo Financiero Banorte SAB de CV, Series O 1,653,957 10,592,073
Grupo Financiero Interacciones SA de CV 43,839 367,215
Grupo Financiero Santander Mexico
       SAB de CV 88,082 238,396
Grupo Industrial Maseca SAB de CV, Series B 53,900 86,165
Grupo Industrial Saltillo SAB de CV 94,000 226,767
Grupo KUO SAB de CV, Series B 164,000 376,710
Grupo Mexico SAB de CV, Series B 89,991 302,393
Grupo Sanborns SAB de CV 99,865 167,154
Grupo Simec SAB de CV, Series B (I) 160,242 718,378
Industrias Bachoco SAB de CV, ADR (L) 2,653 158,490
Industrias Bachoco SAB de CV, Series B 28,347 141,202
Industrias CH SAB de CV, Series B (I) 199,435 1,075,097
Inmuebles Carso SAB de CV, Class B1 (I) 1,091,082 1,202,339
Maxcom Telecomunicaciones SAB de CV (I) 42,100 8,213
Mexichem SAB de CV 322,702 1,343,621
Minera Frisco SAB de CV, Class A1 (I) 42,325 77,777
OHL Mexico SAB de CV (I)(L) 427,377 1,159,889
Organizacion Cultiba SAB de CV 18,915 31,688
Organizacion Soriana SAB de CV, Series B 1,486,116 4,936,200
Qualitas Controladora SAB de CV 154,117 413,105
TV Azteca SA de CV 444,187 228,865
Urbi Desarrollos Urbanos SAB de CV (I)(L) 662,000 77,387
Vitro Sab De CV (I) 7,784 21,479
54,475,251
Philippines - 1.3%
Alliance Global Group, Inc. 687,100 397,214
Atlas Consolidated Mining & Development 348,700 124,076
Cebu Air, Inc. 57,110 87,113
Century Properties Group, Inc. 1,431,000 40,437
Empire East Land Holdings, Inc. (I) 2,990,000 61,291
Filinvest Development Corp. 211,875 22,310
Filinvest Land, Inc. 18,335,500 644,358
First Philippine Holdings Corp. 427,000 856,222
JG Summit Holdings, Inc. 605,200 779,858
Lopez Holdings Corp. 3,257,000 471,492
LT Group, Inc. 200,800 69,894
Megaworld Corp. 11,964,800 1,339,376
Metropolitan Bank & Trust Company 206,814 399,673
Petron Corp. 369,500 96,844
Philippine National Bank (I) 416,530 811,639
Philtown Properties, Inc. (I) 3,844 132
Rizal Commercial Banking Corp. 602,800 727,424
Robinsons Land Corp. 2,512,500 1,361,984
San Miguel Corp. 687,930 1,195,925
San Miguel Pure Foods Company, Inc. 7,670 40,352

The accompanying notes are an integral part of the financial statements. 65


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Emerging Markets Value Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Philippines (continued)
Top Frontier Investment Holdings, Inc. (I) 74,514       $ 204,690
Trans-Asia Oil & Energy Development Corp. 1,023,000 56,688
Union Bank of Philippines, Inc. 214,600 586,068
Vista Land & Lifescapes, Inc. 5,803,000 797,638
11,172,698
Poland - 2.3%
Agora SA (I)(L) 72,583 178,511
Asseco Poland SA 65,833 924,631
Bank Millennium SA 251,187 664,988
Bioton SA (I) 45,462 67,482
Ciech SA 32,747 408,970
ComArch SA 1,802 52,329
Enea SA 115,475 565,138
Fabryki Mebli Forte SA 614 10,552
Farmacol SA (I) 10,785 172,925
Firma Oponiarska Debica SA 7,423 237,554
Getin Holding SA 169,278 149,792
Grupa Azoty SA 12,877 241,010
Grupa Kety SA 16,884 1,401,604
Grupa Lotos SA (I) 74,613 633,660
Hawe SA (I)(L) 38,497 30,721
Impexmetal SA (I) 98,393 82,069
Jastrzebska Spolka Weglowa SA (I)(L) 15,280 148,228
KGHM Polska Miedz SA 90,460 3,445,605
Koelner SA 3,382 8,102
Kopex SA 61,117 208,236
LC Corp. SA (I) 155,767 86,344
MCI Management SA (I) 32,259 104,779
Netia SA 309,487 522,128
Orbis SA 45,854 587,245
PGE SA 728,146 4,600,216
Polimex-Mostostal SA (I) 283,029 7,673
Polnord SA (I) 19,758 48,049
Polski Koncern Miesny Duda SA (I) 6,152 13,173
Polski Koncern Naftowy Orlen SA 235,654 2,931,581
Rovese SA (I) 102,102 42,813
Sygnity SA (I) 6,918 36,930
Tauron Polska Energia SA 944,969 1,528,922
20,141,960
Russia - 3.1%
Gazprom OAO, ADR 3,313,718 23,239,926
Lukoil OAO, ADR 44,694 2,276,773
Magnitogorsk Iron & Steel Works, GDR (I) 111,319 282,058
RusHydro JSC, ADR 896,497 1,605,974
VTB Bank OJSC, GDR (I)(L) 21,612 42,784
27,447,515
South Africa - 7.5%
Adcorp Holdings, Ltd. 64,690 180,118
Aeci, Ltd. 55,858 592,734
African Bank Investments, Ltd. 690,372 18,968
African Rainbow Minerals, Ltd. 107,152 1,357,072
Allied Electronics Corp., Ltd. 62,999 139,283
Anglo American Platinum, Ltd. (I) 9,364 303,056
AngloGold Ashanti, Ltd., ADR (I) 430,478 5,165,736
ArcelorMittal South Africa, Ltd. (I) 138,452 455,594
Astral Foods, Ltd. 2,792 37,683
Aveng, Ltd. (I) 442,348 872,880
Barclays Africa Group, Ltd. 344,156 4,692,170
Barloworld, Ltd. 265,047 2,170,668
Basil Read Holdings, Ltd. (I) 87,352 46,545
Bell Equipment, Ltd. (I) 34,158 42,373
Blue Label Telecoms, Ltd. 263,306 212,961
Business Connexion Group, Ltd. 100,096 56,777
Caxton & CTP Publishers & Printers, Ltd. 185,300 248,416
Clover Industries, Ltd. 61,156 90,401
Consolidated Infrastructure Group, Ltd. (I) 11,072 32,063
DataTec, Ltd. (I) 255,498 1,216,138
DRDGOLD, Ltd. (L) 348,805 118,341
Eqstra Holdings, Ltd. 216,889 112,245
Exxaro Resources, Ltd. (L) 83,396 946,246
Gold Fields, Ltd., ADR 784,509 3,059,585
Grindrod, Ltd. 607,680 1,214,463
Group Five, Ltd. 94,236 334,260
Harmony Gold Mining Company, Ltd., ADR 319,915 691,016
Hudaco Industries, Ltd. 16,112 139,292
Hulamin, Ltd. (I) 112,965 77,406
Iliad Africa, Ltd. 124,370 81,507
Illovo Sugar, Ltd. 19,683 49,576
Impala Platinum Holdings, Ltd. (I) 361,816 2,783,748
Imperial Holdings, Ltd. 2,817 43,355
Investec, Ltd. 204,830 1,716,839
JD Group, Ltd. 239,863 509,079
KAP Industrial Holdings, Ltd. 146,538 52,340
Lewis Group, Ltd. (L) 97,828 489,260
Liberty Holdings, Ltd. 126,115 1,376,004
Merafe Resources, Ltd. 2,241,497 238,712
Metair Investments, Ltd. 50,105 146,052
MMI Holdings, Ltd. 958,249 2,223,126
Mondi, Ltd. 134,682 2,204,505
Mpact, Ltd. 137,231 413,844
Murray & Roberts Holdings, Ltd. 221,422 493,387
Nedbank Group, Ltd. (L) 176,874 3,422,803
Northam Platinum, Ltd. (I) 179,486 584,017
Nu-World Holdings, Ltd. 19,436 38,961
Omnia Holdings, Ltd. 42,258 862,923
Peregrine Holdings, Ltd. 96,580 192,450
Petmin, Ltd. 203,836 32,120
PSG Group, Ltd. 29,928 254,781
Raubex Group, Ltd. 77,675 152,922
RCL Foods, Ltd. (I) 8,530 11,919
Reunert, Ltd. 25,410 133,428
Royal Bafokeng Platinum, Ltd. (I) 27,825 149,503
Sappi, Ltd. (I) 331,201 1,299,163
Sappi, Ltd., ADR (I) 156,861 599,209
Sibanye Gold, Ltd., ADR (L) 176,508 1,496,788
Standard Bank Group, Ltd. (L) 883,985 10,215,014
Stefanutti Stocks Holdings, Ltd. (I) 60,065 42,553
Steinhoff International Holdings, Ltd. (L) 1,188,309 5,691,110
Super Group, Ltd. (I) 216,023 592,364
Telkom SA, Ltd. (I) 271,496 1,311,855
Telkom SA, Ltd., ADR (I) 3,000 58,080
Tiger Wheels, Ltd. (I) 32,678 0
Times Media Group, Ltd. 59,281 102,498
Tongaat Hulett, Ltd. 75,607 1,042,089
Trencor, Ltd. 100,698 594,267
Value Group, Ltd. 178,661 71,056
Wilson Bayly Holmes-Ovcon, Ltd. 4,210 52,106
Zeder Investments, Ltd. 224,532 113,282
66,563,085
South Korea - 15.1%
Agabang&Company 1,701 12,065
Asia Cement Company, Ltd. 2,253 232,315
ASIA Holdings Company, Ltd. 986 160,303
Asia Paper Manufacturing Company, Ltd. 1,600 40,496

The accompanying notes are an integral part of the financial statements. 66


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Emerging Markets Value Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
South Korea (continued)
AUK Corp. (I) 19,670 $ 32,940
Bookook Securities Company, Ltd. 4,950 61,884
BS Financial Group, Inc. 67,687 1,083,525
BYC Company, Ltd. 240 68,185
CammSys Corp. 15,682 25,230
Chosun Refractories Company, Ltd. 1,708 200,865
CJ Korea Express Company, Ltd. (I) 101 16,018
Cosmochemical Company, Ltd. (I) 3,570 18,247
Dae Dong Industrial Company, Ltd. 9,000 95,164
Dae Han Flour Mills Company, Ltd. 1,232 252,842
Daechang Company, Ltd. (L) 43,270 35,941
Daeduck Electronics Company 6,800 59,198
Daeduck GDS Company, Ltd. 12,540 143,651
Daegu Department Store 9,340 144,694
Daehan Steel Company, Ltd. (L) 9,250 58,866
Daekyo Company, Ltd. 44,550 308,849
Daelim Industrial Company, Ltd. 16,627   1,188,939
Daesang Holdings Company, Ltd. 4,390 89,671
Daesung Holdings Company, Ltd. 8,110   97,149
Daewoo Securities Company, Ltd. (I) 62,611 636,385
Daewoo Shipbuilding & Marine
       Engineering Company, Ltd. (L) 28,136 539,546
Dahaam E-Tec Company, Ltd. (I) 2,630 44,861
Daishin Securities Company, Ltd. 53,530 569,528
Daou Technology, Inc. 26,120 280,481
Dasan Networks, Inc. (I) 7,253 48,788
DGB Financial Group, Inc. 125,101 1,988,694
Dong Ah Tire & Rubber Company, Ltd. 10,970 213,028
Dong Yang Gang Chul Company, Ltd. (I) 2,200 5,249
Dong-Il Corp. 673 54,332
Dongbang Transport Logistics Company, Ltd. 5,500 10,968
Dongbu Corp. (I)(L) 12,860 14,285
Dongbu Securities Company, Ltd. 32,430 144,116
Dongbu Steel Company, Ltd. (I)(L) 23,705 38,588
Dongil Industries Company, Ltd. 1,340 78,679
Dongkook Industrial Company, Ltd. (I) 3,600 10,469
Dongkuk Steel Mill Company, Ltd. 57,069 336,928
Dongwha Pharmaceutical Company, Ltd. 16,190 82,812
Dongyang E&P, Inc. 676 7,352
Dongyang Mechatronics Corp. 3,443 28,862
Doosan Corp. 5,073 497,189
Doosan Engineering &
       Construction Company, Ltd. (I)(L) 3,141 33,471
Doosan Heavy Industries and
       Construction Company, Ltd. 16,451 405,555
Doosan Infracore Company, Ltd. (I) 68,568 719,937
DRB Holding Company, Ltd. 10,135 172,124
Eugene Investment &
       Securities Company, Ltd. (I)(L) 70,280 132,989
Fursys, Inc. 792 25,156
Gaon Cable Company, Ltd. 2,934 74,639
GS Engineering & Construction Corp. (I) 33,032 1,147,212
GS Holdings Corp. 30,293 1,155,850
Gwangju Shinsegae Company, Ltd. 1,055 315,787
Halla Engineering & Construction Corp. (I) 14,352 105,023
Han Kuk Carbon Company, Ltd. 6,020 31,439
Hana Financial Group, Inc. 150,351 5,472,327
Handok, Inc. 121 2,708
Handsome Company, Ltd. 2,848 87,924
Hanil Cement Company, Ltd. 4,658 602,576
Hanjin Heavy Industries &
       Construction Company, Ltd. (I) 59,212 290,885
Hanjin Heavy Industries & Construction
       Holdings Company, Ltd. (L) 14,860 137,945
Hanjin Transportation Company, Ltd. (L) 11,210 451,288
Hankuk Glass Industries, Inc. (I) 1,970 49,093
Hankuk Paper Manufacturing Company, Ltd. 3,920 123,616
Hansol Paper Company, Ltd. (L) 40,470 419,426
Hanwha Chemical Corp. (L) 75,170 974,147
Hanwha Corp. 38,140 1,062,332
Hanwha Investment &
       Securities Company, Ltd. (I) 58,320 221,218
Hanwha Life Insurance Company, Ltd. 101,142 680,127
Hanwha Timeworld Company, Ltd. 2,650 169,002
Hanyang Securities Company, Ltd. 11,820 77,567
Heung-A Shipping Company, Ltd. 55,867 104,017
Hitejinro Holdings Company, Ltd. 7,640 95,848
HMC Investment Securities Company, Ltd. 17,256 188,643
HS R&A Company, Ltd. 2,470 77,816
Humax Company, Ltd. 5,496 58,512
Husteel Company, Ltd. 6,110 104,467
Hwacheon Machine Tool Company, Ltd. 940 68,935
HwaSung Industrial Company, Ltd. 4,800 61,172
Hyosung Corp. 21,955 1,572,109
Hyundai BNG Steel Company, Ltd. (I) 5,400 112,527
Hyundai Development Company 33,220 1,340,271
Hyundai Heavy Industries Company, Ltd. (L) 20,807 2,703,636
Hyundai Hy Communications &
       Networks Company, Ltd. 2,830 12,314
Hyundai Motor Company 26,959 4,857,289
Hyundai Securities Company, Ltd. 38,840 258,201
Hyundai Steel Company 41,765 2,931,453
Iljin Electric Company, Ltd. 2,300 15,943
Ilshin Spinning Company, Ltd. 867 133,462
Ilsung Pharmaceutical Company, Ltd. 1,895 169,621
Industrial Bank of Korea 132,240 1,993,944
Interflex Company, Ltd. (I) 965 11,929
INTOPS Company, Ltd. 2,551 41,493
Inzi Controls Company, Ltd. 6,050 29,866
IS Dongseo Company, Ltd. (I) 7,020 257,851
ISU Chemical Company, Ltd. 7,460 75,168
Jahwa Electronics Company, Ltd. 4,238 48,722
JB Financial Group Company, Ltd. 78,684 525,989
Jeil Pharmaceutical Company 12,680 249,082
Jeil Savings Bank (I) 1,820 52
KB Capital Company, Ltd. 1,069 21,309
KB Financial Group, Inc. 15,112 550,922
KB Financial Group, Inc., ADR 306,667 11,107,479
KCC Corp. 1,878 1,278,625
Keangnam Enterprises, Ltd. (I) 8,628 32,175
Keyang Electric Machinery Company, Ltd. 13,000 52,927
KG Chemical Corp. 5,600 79,422
KISCO Corp. 3,841 117,614
KISCO Holdings Company, Ltd. 778 37,099
Kishin Corp. 1,549 11,194
KISWIRE, Ltd. 5,463 257,069
KNB Financial Group Company, Ltd. (I) 27,951 312,204
Kolon Corp. 1,959 43,056
Kolon Global Corp. (I) 1,532 11,945
Kolon Industries, Inc. 7,361 407,717
Korea Airport Service Company, Ltd. 432 12,301
Korea Cast Iron Pipe Industries Company, Ltd. 5,500 27,917
Korea Circuit Company, Ltd. 3,910 29,992
Korea Electric Terminal Company, Ltd. 4,550 224,257
Korea Flange Company, Ltd. 4,810 98,097

The accompanying notes are an integral part of the financial statements. 67


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Emerging Markets Value Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
South Korea (continued)
Korea Investment Holdings Company, Ltd. 23,056 $ 1,208,551
Korean Air Lines Company, Ltd. (I) 22,320 759,949
Korean Petrochemical Industrial Company, Ltd. 1,350 91,798
Korean Reinsurance Company, Ltd. 34,840 372,772
Kortek Corp. 4,437 47,445
KPX Chemical Company, Ltd. 933 52,298
KTB Investment & Securities Company, Ltd. (I) 55,710 115,722
Kukdo Chemical Company, Ltd. 1,414 63,357
Kumho Electric Company, Ltd. 2,785 52,690
Kunsul Chemical Industrial Company, Ltd. 1,970 85,113
Kwangju Bank (I) 18,290 184,416
Kyeryong Construction
       Industrial Company, Ltd. (I) 6,260 68,998
Kyobo Securities Company 12,618 141,538
Kyung-In Synthetic Corp. 4,040 25,690
Kyungbang, Ltd. 1,375 215,539
LF Corp. 4,523 149,848
LG Corp. 54,393   3,954,221
LG Display Company, Ltd., ADR (I)(L) 390,273 6,146,800
LG Electronics, Inc. 80,675 5,017,155
LG International Corp. 8,100 197,077
LG Uplus Corp. 6,070   70,995
Livart Furniture Company, Ltd. 1,200 50,191
Lotte Chemical Corp. 1,679 223,041
Lotte Chilsung Beverage Company, Ltd. 597 1,228,091
Lotte Confectionery Company, Ltd. 512 1,057,482
Lotte Shopping Company, Ltd. 9,417 2,817,820
Melfas, Inc. 5,286 27,936
Meritz Securities Company, Ltd. 170,802 638,913
Mi Chang Oil Industrial Company, Ltd. 905 65,033
Mirae Asset Securities Company, Ltd. 24,550 1,032,654
MK Electron Company, Ltd. 3,591 16,386
MNTech Company, Ltd. 3,764 15,028
Moorim P&P Company, Ltd. 29,420 133,800
Moorim Paper Company, Ltd. 13,820 31,435
Motonic Corp. 4,725 62,394
Namyang Dairy Products Company, Ltd. 539 389,795
NEPES Corp. 6,488 35,881
Nexen Corp. 1,289 115,581
NH Investment & Securities Company, Ltd. 26,217 198,484
Nong Shim Holdings Company, Ltd. 2,560 314,118
PaperCorea, Inc. (I)(L) 70,940 49,621
Poonglim Industrial Company, Ltd. (I) 189 394
Poongsan Corp. 5,680 158,903
Poongsan Holdings Corp. 5,382 240,215
POSCO 25,197 7,750,414
POSCO Coated & Color
       Steel Company, Ltd. (I) 4,050 50,656
POSCO, ADR 51,708 3,924,637
Pulmuone Company, Ltd. 83 10,880
S&T Dynamics Company, Ltd. 24,980 244,962
S&T Holdings Company, Ltd. 11,230 202,581
S&T Motiv Company, Ltd. 5,310 182,878
Saeron Automotive Corp. 1,790 19,465
Sam Young Electronics Company, Ltd. 10,510 135,001
Samho Development Company, Ltd. 3,660 11,480
Samick Musical Instruments Company, Ltd. 11,240 43,803
Samsung SDI Company, Ltd. 14,723 1,705,020
Samsung Securities Company, Ltd. 3,732 155,769
Samyang Genex Company, Ltd. 1,448 192,064
Samyang Holdings Corp. 7,192 592,633
Samyang Tongsang Company, Ltd. 1,360 103,266
SAVEZONE I&C Corp. 16,880 113,435
SBS Media Holdings Company, Ltd. 16,606 54,784
SeAH Besteel Corp. 970 34,708
SeAH Holdings Corp. 1,122 190,265
SeAH Steel Corp. 2,835 247,400
Sebang Company, Ltd. 11,820 229,639
Seohee Construction Company, Ltd. (I)(L) 40,163 31,808
SG Corp. (I)(L) 84,000 52,678
Shinhan Financial Group
       Company, Ltd., ADR (L) 371,817 16,902,801
Shinhan Financial Group Company, Ltd. 12,565 578,450
Shinsegae Company, Ltd. 3,190 662,446
Shinsegae Information &
       Communication Company, Ltd. 1,038 108,850
Shinsung Solar Energy Company, Ltd. (I) 30,622 32,336
Shinsung Tongsang Company, Ltd. (I)(L) 24,560 28,856
Shinwon Corp. (I)(L) 27,180 61,137
Shinyoung Securities Company, Ltd. 5,296 315,573
Silla Company, Ltd. 5,066 125,255
Sindoh Company, Ltd. 3,959 281,864
SK Chemicals Company, Ltd. 4,376 249,630
SK Gas Company, Ltd. 2,898 385,632
SK Holdings Company, Ltd. 24,253 4,335,579
SK Innovation Company, Ltd. 34,298 2,631,043
SK Networks Company, Ltd. (I) 22,807 228,782
SK Securities Company, Ltd. (I) 198,250 172,196
Songwon Industrial Company, Ltd. 6,230 37,824
Ssangyong Cement Industrial Company, Ltd. (I) 20,770 203,648
STS Semiconductor & Telecommunications (I) 7,351 20,190
STX Engine Company, Ltd. (I) 800 2,661
Sungshin Cement Company, Ltd. (I) 15,480 127,713
Tae Kyung Industrial Company, Ltd. 10,000 55,866
Taekwang Industrial Company, Ltd. 444 559,888
Taewoong Company, Ltd. (I) 1,493 28,874
Taeyoung Engineering &
       Construction Company, Ltd. 55,620 273,865
Tailim Packaging Industrial Company, Ltd. (L) 30,000 64,583
TCC Steel 5,686 18,156
TK Chemical Corp. (I) 7,585 15,536
Tong Yang Moolsan Company, Ltd. 1,510 11,770
TONGYANG Securities, Inc. (L) 75,161 190,467
TS Corp. 5,232 169,192
Uju Electronics Company, Ltd. 1,757 19,612
Unid Company, Ltd. 1,621 90,692
Union Steel 8,940 95,609
Wiscom Company, Ltd. 3,760 21,417
Woojeon & Handan Company, Ltd. 5,380 14,867
Woori Finance Holdings Company, Ltd. (I) 161,005 1,986,097
Woori Finance Holdings
       Company, Ltd., ADR (I) 83 3,079
Woori Investment & Securities Company, Ltd. 115,050 1,284,014
YESCO Company, Ltd. 1,950 71,807
Yoosung Enterprise Company, Ltd. 6,386 44,493
Youlchon Chemical Company, Ltd. 14,150 177,740
Young Poong Corp. 143 187,292
YuHwa Securities Company, Ltd. 3,410 45,719
135,141,688
Taiwan - 15.0%
Ability Enterprise Company, Ltd. 175,000 99,245
Accton Technology Corp. 687,722 400,492
Acer, Inc. (I) 1,482,000 1,040,878
Aces Electronic Company, Ltd. 29,000 38,537
ACHEM Technology Corp. 128,173 82,872
Action Electronics Company, Ltd. (I) 190,923 41,106

The accompanying notes are an integral part of the financial statements. 68


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Emerging Markets Value Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Taiwan (continued)
Advanced Connectek ,Inc. (I) 52,000 $ 20,463
Advanced International
       Multitech Company, Ltd. 11,000 8,770
AGV Products Corp. (I) 568,100 157,746
AimCore Technology Company, Ltd. 26,990 30,371
Alpha Networks, Inc. 245,000 136,744
Altek Corp. (I) 291,578 246,350
AmTRAN Technology Company, Ltd. 327,185 199,271
APCB, Inc. 92,000 63,772
Apex Science & Engineering 41,800 18,554
Ardentec Corp. 76,937 66,631
Asia Cement Corp. 1,382,805 1,766,200
Asia Optical Company, Inc. (I) 183,000 285,048
Asia Polymer Corp. 93,400 63,522
Asia Vital Components Company, Ltd. 148,328 104,935
AU Optronics Corp., ADR 883,628 3,675,892
Audix Corp. 81,200 103,570
Avermedia Technologies, Inc. (I) 163,000 62,941
Avision, Inc. (I) 154,751 50,051
AVY Precision Technology, Inc. 4,000 13,059
Bank of Kaohsiung 541,249 160,919
BES Engineering Corp. 1,528,700 385,654
Biostar Microtech International Corp. 67,000 24,978
Bright Led Electronics Corp. 97,000 43,878
Cameo Communications, Inc. 164,944 39,653
Capital Securities Corp. 1,013,069 332,762
Carnival Industrial Corp. 205,000 54,417
Cathay Chemical Works 93,000 49,500
Cathay Real Estate
       Development Company, Ltd. 1,335,000 696,923
Central Reinsurance Company, Ltd. 299,290 160,188
ChainQui Construction
       Development Company, Ltd. 75,000 58,842
Champion Building Materials Company, Ltd. 120,132 40,275
Chang Hwa Commercial Bank 2,773,519 1,699,602
Charoen Pokphand Enterprise 154,350 128,697
Cheng Loong Corp. 1,412,320 594,058
Cheng Uei Precision Industry Company, Ltd. 303,629 543,661
Chia Chang Company, Ltd. 50,000 53,363
Chia Hsin Cement Corp. 715,773 349,356
Chien Kuo Construction Company, Ltd. 172,785 68,534
Chien Shing Stainless Steel Company (I) 199,000 37,760
Chin-Poon Industrial Company, Ltd. 194,571 323,409
China Airlines, Ltd. (I) 2,177,910 730,615
China Chemical &
       Pharmaceutical Company, Ltd. 196,000 136,533
China Development Financial Holdings Corp. 7,210,208 2,211,625
China Electric Manufacturing Corp. 93,000 34,865
China General Plastics Corp. 545,688 209,247
China Glaze Company, Ltd. 98,000 46,859
China Life Insurance Company, Ltd. 434,500 358,135
China Man-Made Fiber Corp. (I) 995,000 285,828
China Metal Products Company, Ltd. 138,513 144,561
China Motor Corp. 452,125 402,479
China Petrochemical Development Corp. 886,550 277,609
China Steel Corp. 1,077,180 920,420
China Steel Structure Company, Ltd. 50,000 47,637
China Synthetic Rubber Corp. 136,965 146,088
China Wire & Cable Company, Ltd. (I) 128,000 54,067
Chinese Maritime Transport, Ltd. 29,000 31,590
Chun Yu Works & Company, Ltd. 161,000 70,920
Chun Yuan Steel 672,874 264,401
Chung Hsin Electric &
       Machinery Manufacturing Corp. (I) 292,000 196,080
Chung Hung Steel Corp. (I) 235,625 60,395
Chung Hwa Pulp Corp. (I) 501,610 148,174
Chunghwa Picture Tubes, Ltd. (I) 4,649,429 256,708
CMC Magnetics Corp. (I) 4,348,000 670,471
CoAsia Microelectronics Corp. 40,950 17,465
Collins Company, Ltd. 134,626 60,205
Compal Electronics, Inc. 3,788,000 2,833,839
Compeq Manufacturing Company 844,000 496,909
Concord Securities Corp. (I) 135,000 36,003
Continental Holdings Corp. 862,050 325,789
Coretronic Corp. (I) 421,500 680,438
Coxon Precise Industrial Company, Ltd. 59,000 102,648
CSBC Corp. Taiwan 147,100 84,744
D-Link Corp. 397,630 236,646
DA CIN Construction Company, Ltd. 62,000 43,618
Darfon Electronics Corp. 220,850 140,598
Delpha Construction Company, Ltd. 104,261 47,936
Dynamic Electronics Company, Ltd. (I) 159,762 86,594
E Ink Holdings, Inc. (I) 150,000 84,441
E.Sun Financial Holding Company, Ltd. 4,959,594 3,007,239
Eastern Media International Corp. 624,608 211,169
Edimax Technology Company, Ltd. 53,404 21,744
Edison Opto Corp. (I) 62,000 60,252
Edom Technology Company, Ltd. 155,100 141,746
Elite Material Company 113,000 125,689
Elitegroup Computer
       Systems Company, Ltd. (I) 600,651 438,945
ENG Electric Company, Ltd. 46,000 33,385
EnTie Commercial Bank 53,000 25,248
Episil Technologies, Inc. (I) 140,000 48,094
Epistar Corp. 608,000 1,135,894
Etron Technology, Inc. (I) 26,000 13,364
Eva Airways Corp. (I) 567,000   299,962
Everest Textile Company, Ltd. (I) 230,000   117,335
Evergreen International Storage
       & Transport Corp. 353,600 212,674
Evergreen Marine Corp Taiwan, Ltd. (I) 1,571,291 921,576
Excelsior Medical Company, Ltd. 70,200 125,843
Far Eastern Department Stores Company, Ltd. 240,720 231,962
Far Eastern International Bank 2,051,220 691,489
Far Eastern New Century Corp. 177,480 178,751
Farglory FTZ Investment
       Holding Company, Ltd. (I) 45,000 30,938
Farglory Land Development Company, Ltd. 110,530 130,005
Federal Corp. 630,528 364,509
First Copper Technology Company, Ltd. 356,000 125,150
First Financial Holding Company, Ltd. 5,041,619 3,034,509
First Insurance Company, Ltd. 193,475 102,303
First Steamship Company, Ltd. 249,104 170,103
Forhouse Corp. 323,099 131,586
Formosa Advanced
       Technologies Company, Ltd. 24,000 17,503
Formosa Epitaxy, Inc. (I) 329,000 176,426
Formosa Oilseed Processing 88,578 76,650
Formosa Taffeta Company, Ltd. 766,000 751,642
Formosan Rubber Group, Inc. 272,000 288,853
Formosan Union Chemical 280,940 128,010
Fortune Electric Company, Ltd. 35,000 18,399
Founding Construction &
       Development Company, Ltd. 98,443 66,322
Foxconn Technology Company, Ltd. 193,200 477,378

The accompanying notes are an integral part of the financial statements. 69


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Emerging Markets Value Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Taiwan (continued)
Foxlink Image Technology Company, Ltd. 67,000 $ 42,773
Froch Enterprise Company, Ltd. (I) 41,000 17,481
FSP Technology, Inc. 72,229 64,726
Fubon Financial Holding Company, Ltd. 3,803,649 5,828,557
Fullerton Technology Company, Ltd. 86,460 72,688
Fulltech Fiber Glass Corp. 149,616 54,513
Fwusow Industry Company, Ltd. 179,216 99,034
G Shank Enterprise Company, Ltd. 55,000 45,679
G Tech Optoelectronics Corp. 60,000 57,810
Gallant Precision Machining Co Ltd. 66,000 26,737
Gemtek Technology Corp. 199,697 177,921
Genesis Photonics, Inc. (I) 160,240 91,574
Getac Technology Corp. 460,000 232,575
Giantplus Technology Company, Ltd. (I) 30,000 12,139
Giga Solution Tech Company, Ltd. 19,000   12,199
Gigabyte Technology Company, Ltd. 250,000 279,540
Gintech Energy Corp. (I) 258,349   225,333
Global Brands Manufacture, Ltd. (I) 171,806 58,965
Global Lighting Technologies, Inc. 23,000 29,501
Globe Union Industrial Corp. 96,750 48,959
Gloria Material Technology Corp. 283,350 213,238
Gold Circuit Electronics, Ltd. (I) 666,204 257,915
Goldsun Development &
       Construction Company, Ltd. 1,644,714 581,350
Grand Pacific Petrochemical Corp. 783,000 354,278
Great Wall Enterprise Company, Ltd. 88,400 86,162
Green Energy Technology, Inc. (I) 221,194 182,196
GTM Corp. (I) 159,000 116,075
Hannstar Board Corp. 128,759 52,174
HannStar Display Corp. 2,630,842 703,848
Harvatek Corp. 131,521 73,680
Hey Song Corp. 177,000 199,793
Ho Tung Chemical Corp. 892,229 294,803
Hocheng Corp. 424,500 158,219
Holy Stone Enterprise Company, Ltd. 118,300 165,464
Hong TAI Electric Industrial 351,000 120,459
Horizon Securities Company, Ltd. 223,000 64,626
Hsin Kuang Steel Company, Ltd. 312,085 187,198
Hsing TA Cement Company, Ltd. 435,000 204,708
Hua Eng Wire & Cable Company, Ltd. 923,000 320,193
Hua Nan Financial Holdings Company, Ltd. 2,797,498 1,631,812
Huang Hsiang Construction Company 35,000 44,867
Hung Ching Development &
       Construction Company, Ltd. 173,000 102,072
Hung Poo Real Estate Development Corp. 123,000 99,625
Hung Sheng Construction Company, Ltd. (I) 615,200 414,665
Hwa Fong Rubber Company, Ltd. 65,492 46,772
I-Chiun Precision Industry Company, Ltd. 98,000 62,306
Ichia Technologies, Inc. 248,180 294,667
Infortrend Technology, Inc. 118,000 62,208
Innolux Corp. 6,278,561 2,709,628
Inotera Memories, Inc. (I) 484,000 716,025
ITE Technology, Inc. 7,913 9,117
J Touch Corp. (I) 37,000 22,964
Janfusun Fancyworld Corp. (I) 15,071 2,463
Jess-Link Products Company, Ltd. 57,000 59,235
Jih Sun Financial Holdings Co Ltd. 92,333 24,561
K Laser Technology, Inc. 82,214 43,756
Kang Na Hsiung Enterprise Company, Ltd. 105,000 47,973
Kaulin Manufacturing Company, Ltd. 202,710 141,773
Kenmec Mechanical
       Engineering Company, Ltd. 44,000 21,951
King Yuan Electronics Company, Ltd. 1,141,796 971,577
King’s Town Bank 421,000 465,641
King’s Town Construction Company, Ltd. (I) 15,000 12,277
Kinko Optical Company, Ltd. 36,000 29,613
Kinpo Electronics, Inc. 1,416,269 672,081
KS Terminals, Inc. 37,000 44,672
Kuoyang Construction Company, Ltd. 52,335 23,995
Kwong Fong Industries 537,040 289,681
KYE System Corp. 222,382 86,200
L&K Engineering Company, Ltd. 74,000 62,049
LAN FA Textile 188,863 62,652
LCY Chemical Corp. 19,000 10,406
Leader Electronics, Inc. 51,000 20,428
Lealea Enterprise Company, Ltd. (I) 1,089,125 336,709
LEE CHI Enterprises Company, Ltd. 118,000 54,420
Lelon Electronics Corp. 12,650 17,120
Leofoo Development Company, Ltd. (I) 125,969 48,599
LES Enphants Company, Ltd. 64,000 38,804
Li Peng Enterprise Company, Ltd. (I) 729,600 265,816
Lien Hwa Industrial Corp. 776,414 517,802
Lingsen Precision Industries, Ltd. 372,481 194,038
Lite-On Semiconductor Corp. 245,000 170,392
Lite-On Technology Corp. 1,783,344 2,565,026
Long Chen Paper Company, Ltd. 881,307 459,096
Lotes Company, Ltd. 44,000 185,272
Lucky Cement Corp. 390,000 128,048
Macronix International (I) 3,734,001 835,636
Marketech International Corp. 82,000 60,734
Masterlink Securities Corp. 716,496 235,431
Mayer Steel Pipe Corp. 321,379 156,928
Mega Financial Holding Company, Ltd. 5,929,098 4,859,229
Meiloon Industrial Company, Ltd. 107,684 46,295
Mercuries & Associates, Ltd. 56,000 34,492
Mercuries Life Insurance Company, Ltd. (I) 41,164 24,145
Micro-Star International Company, Ltd. 970,264 1,192,986
Mitac Holdings Corp. 446,978 368,281
Mosel Vitelic, Inc. (I) 286,758 68,798
Nan Ya Printed Circuit Board Corp. (I) 87,000 139,751
Nantex Industry Company, Ltd. 33,852 18,416
Nien Hsing Textile Company, Ltd. 449,000 389,610
Nishoku Technology, Inc. 6,000 8,908
Optimax Technology Corp. (I) 103,000 18,107
OptoTech Corp. 305,000 143,312
Orient Semiconductor Electronics, Ltd. (I) 197,000 82,156
P-Two Industries, Inc. 14,000 6,391
Pacific Construction Company, Ltd. 89,289 31,239
Pan Jit International, Inc. (I) 249,000 113,667
Pan-International Industrial 32,481 21,935
Paragon Technologies Company, Ltd. 28,904 47,131
Pegatron Corp. 1,381,660 2,539,749
Phihong Technology Company, Ltd. 152,000 90,352
Plotech Company, Ltd. 30,000 12,005
Portwell, Inc. 42,000 59,992
Pou Chen Corp. 341,348 379,216
Powercom Company, Ltd. (I) 85,600 15,254
Powertech Technology, Inc. (I) 519,000 938,379
President Securities Corp. 564,285 314,159
Prime Electronics Satellitics, Inc. 50,000 23,714
Prince Housing & Development Corp. 275,555 109,511
Prodisc Technology, Inc. (I) 762,000 0
Qisda Corp. (I) 1,550,280 686,007
Qualipoly Chemical Corp. 21,000 15,055
Quanta Storage, Inc. 131,000 153,923
Quintain Steel Company, Ltd. (I) 361,602 76,713

The accompanying notes are an integral part of the financial statements. 70


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Emerging Markets Value Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Taiwan (continued)
Radium Life Tech Company, Ltd. (I) 406,211 $ 236,778
Ralec Electronic Corp. 41,335 78,844
Rexon Industrial Corp., Ltd. 63,456 20,018
Rich Development Company, Ltd. 131,000 56,952
Ritek Corp. (I) 3,713,029 448,662
Ruentex Development Company, Ltd. 104,000 167,866
Ruentex Industries, Ltd. 203,000 451,167
Sampo Corp. 902,338 373,500
Sheng Yu Steel Company, Ltd. 169,000 121,350
ShenMao Technology, Inc. 13,000 14,548
Shih Wei Navigation Company, Ltd. 54,039 36,397
Shihlin Electric & Engineering Corp. 41,000 55,702
Shin Kong Financial Holding Company, Ltd. 5,375,680 1,629,476
Shin Zu Shing Company, Ltd. 51,000 126,196
Shinkong Insurance Company, Ltd. 142,000 111,784
Shinkong Synthetic Fibers Corp. 2,221,239 795,605
Shuttle, Inc. 112,000 30,353
Sigurd Microelectronics Corp. 341,293 342,623
Silicon Integrated Systems Corp. (I) 440,000   130,711
Silitech Technology Corp. 60,420   48,094
Singatron Enterprise Company, Ltd. (I) 17,000 7,483
Sino-American Silicon Products, Inc. (I) 300,000 447,794
Sinon Corp. 368,650 210,875
SinoPac Financial Holdings Company, Ltd. 6,573,717 2,818,632
Siward Crystal Technology Company, Ltd. 64,213 44,398
Solar Applied Materials Technology Company 38,000 32,507
Solartech Energy Corp. (I) 149,624 108,999
Solomon Technology Corp. (I) 82,421 50,811
Solytech Enterprise Corp. (I) 72,000 22,575
Southeast Cement Company, Ltd. 295,000 162,341
Spirox Corp. (I) 127,068 94,243
Sunplus Technology Company, Ltd. (I) 409,000 172,047
Sunrex Technology Corp. 71,000 38,411
Super Dragon Technology Company, Ltd. 3,000 1,924
Supreme Electronics Company, Ltd. 198,672 118,500
Sweeten Construction Company, Ltd. 38,586 23,367
TA Chen Stainless Pipe (I) 565,788 346,485
Ta Chong Bank, Ltd. (I) 2,456,611 788,227
Ta Chong Securities Company, Ltd. 51,000 17,431
Ta Ya Electric Wire & Cable Company, Ltd. 928,436 213,635
TA-I Technology Company, Ltd. 75,823 43,130
Tah Hsin Industrial Company, Ltd. (I) 217,000 200,785
Taichung Commercial Bank 2,340,591 792,270
Tainan Enterprises Company, Ltd. 194,250 175,714
Tainan Spinning Company, Ltd. 1,253,197 742,483
Taishin Financial Holdings Company, Ltd. 8,275,400 3,873,153
Taisun Enterprise Company, Ltd. (I) 73,032 29,629
Taita Chemical Company, Ltd. (I) 140,028 40,577
Taiwan Business Bank (I) 3,389,081 999,828
Taiwan Cement Corp. 2,901,983 4,319,101
Taiwan Cogeneration Corp. 359,434 260,970
Taiwan Cooperative Financial
       Holding Company, Ltd. 4,843,096 2,610,017
Taiwan Fertilizer Company, Ltd. 352,000 581,464
Taiwan Fire & Marine Insurance Company 6,000 4,506
Taiwan FU Hsing Industrial Company, Ltd. 45,000 43,396
Taiwan Glass Industrial Corp. 142,000 117,525
Taiwan Hopax Chemicals
       Manufacturing Company, Ltd. 10,200 7,639
Taiwan Kolin Company, Ltd. (I) 327,000 0
Taiwan Land Development Corp. 559,511 198,302
Taiwan Mask Corp. 407,150 129,356
Taiwan Navigation Company, Ltd. 49,000 35,656
Taiwan PCB Techvest Company, Ltd. 78,000 121,410
Taiwan Pulp & Paper Corp. (I) 417,640 169,525
Taiwan Semiconductor Company, Ltd. 11,000 13,328
Taiwan Surface Mounting
       Technology Company, Ltd. 24,024 35,098
Taiwan TEA Corp. 546,000 314,633
Taiwan Union Technology Corp. 65,000 59,690
Taiyen Biotech Company, Ltd. 230,137 185,475
Tatung Company, Ltd. (I) 2,366,200 690,092
Teco Electric & Machinery Company, Ltd. 1,870,000 1,920,224
Tex-Ray Industrial Company, Ltd. (I) 91,800 42,042
The Ambassador Hotel 54,000 49,104
Tong Yang Industry Company, Ltd. 192,627 204,979
Tong-Tai Machine & Tool Company, Ltd. 112,363 114,097
Topoint Technology Company, Ltd. 70,212 79,501
TPK Holding Company, Ltd. 29,000 173,379
Transasia Airways Corp. 48,000 17,284
Tripod Technology Corp. 15,000 30,947
Tung Ho Steel Enterprise Corp. 266,000 215,420
TYC Brother Industrial Company, Ltd. (I) 131,511 76,398
Tycoons Group Enterprise Company, Ltd. (I) 367,768 75,739
Tyntek Corp. (I) 209,096 57,789
TZE Shin International Company, Ltd. 50,698 16,365
U-Tech Media Corp. (I) 180,000 37,743
Unimicron Technology Corp. 1,112,000 827,603
Union Bank of Taiwan (I) 895,127 311,759
Unitech Computer Company, Ltd. 158,039 91,666
Unitech Printed Circuit Board Corp. (I) 717,975 316,026
United Integrated Services Company, Ltd. 64,000 63,432
United Microelectronics Corp. 10,685,794 4,407,574
Universal Cement Corp. 749,090 655,609
Unizyx Holding Corp. 377,000 246,501
UPC Technology Corp. 956,156 359,445
USI Corp. 154,000 76,105
Ve Wong Corp. 93,993 73,253
Wafer Works Corp. (I) 268,342 119,439
Wah Hong Industrial Corp. 7,988 9,598
Wah Lee Industrial Corp. 76,000 134,764
Walsin Lihwa Corp. (I) 2,105,000 691,298
Walsin Technology Corp. (I) 858,044 323,635
Walton Advanced Engineering, Inc. 229,584 109,128
Wan Hai Lines, Ltd. 149,050 106,694
Waterland Financial Holding Company, Ltd. 2,802,399 792,208
Ways Technical Corp., Ltd. 17,000 19,863
WEI Chih Steel Industrial Company, Ltd. (I) 100,000 14,776
Wei Mon Industry Company, Ltd. (I) 211,815 50,803
Well Shin Technology Company, Ltd. 30,000 49,963
Winbond Electronics Corp. (I) 2,316,000 692,996
Wintek Corp. (I) 1,535,000 329,638
Wistron Corp. 1,965,052 2,001,048
WT Microelectronics Company, Ltd. 82,434 132,444
WUS Printed Circuit Company, Ltd. 520,000 240,410
Yageo Corp. 1,923,600 1,394,348
Yang Ming Marine Transport Corp. (I) 786,500 342,388
YC Company, Ltd. 188,587 104,984
YC INOX Company, Ltd. 58,000 49,286
YeaShin International
       Development Company, Ltd. 28,775 16,456
YFY, Inc. 1,678,202 727,905
Yi Jinn Industrial Company, Ltd. 313,904 86,631
Yieh Phui Enterprise Company, Ltd. 1,810,870 549,859
Young Fast Optoelectronics Company, Ltd. 103,000 77,085
Yuanta Financial Holdings Company, Ltd. 4,944,297 2,435,977

The accompanying notes are an integral part of the financial statements. 71


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Emerging Markets Value Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)       
Taiwan (continued)
Yufo Electronics Company, Ltd. 12,000 $ 7,488
Yulon Motor Company, Ltd. 653,000 975,413
Yung Chi Paint & Varnish
       Manufacturing Company, Ltd. 10,787 30,877
Zenitron Corp. 150,000 86,786
Zig Sheng Industrial Company, Ltd. 352,908 102,399
Zinwell Corp. 112,000 103,834
ZongTai Real Estate
       Development Company, Ltd. 51,000 30,590
133,435,878
Thailand - 3.2%
A.J. Plast PCL (I) 117,500   39,861
AAPICO Hitech PCL 144,720 72,751
AP Thailand PCL 1,076,700   239,082
Asia Plus Securities PCL 74,100 9,004
Bangkok Bank PCL 232,200 1,458,868
Bangkok Bank PCL, Foreign Shares 33,500 216,650
Bangkok Expressway PCL 565,700 662,964
Bangkok Insurance PCL 4,550 50,376
Banpu PCL (L) 1,122,000 1,020,786
Cal-Comp Electronics Thailand PCL 1,955,512 182,133
Eastern Water Resources Development &
       Management PCL 143,600 48,273
Esso Thailand PCL (I) 1,389,900 248,617
G J Steel PCL (I) 58,717,750 144,870
G Steel PCL (I) 3,947,700 21,915
Hana Microelectronics PCL 328,800 428,429
IRPC PCL 5,208,900 552,617
KGI Securities Thailand PCL 566,200 57,973
Kiatnakin Bank PCL 434,200 565,766
Krung Thai Bank PCL 2,764,100 2,020,329
Krungthai Card PCL 95,800 201,645
MBK PCL 418,000 210,128
Padaeng Industry PCL 46,900 25,168
Polyplex PCL 266,900 106,184
Pranda Jewelry PCL 214,300 43,620
Precious Shipping PCL 322,600 238,779
Property Perfect PCL 1,534,900 65,798
PTT Exploration & Production PCL 188,700 931,133
PTT Global Chemical PCL 1,078,300 2,028,567
PTT PCL 877,100 9,738,042
Regional Container Lines PCL (I) 582,300 190,359
Saha-Union PCL 204,000 268,959
Sahaviriya Steel Industries PCL (I) 9,648,400 101,171
Sansiri PCL 2,762,600 190,847
SC Asset Corp. PCL 1,517,063 182,469
Siam Future Development PCL 159,076 35,078
Siamgas & Petrochemicals PCL 121,600 51,003
Somboon Advance Technology PCL 68,200 39,963
Sri Trang Agro-Industry PCL (L) 518,700 222,357
Srithai Superware PCL 283,000 24,612
Tata Steel Thailand PCL (I) 5,227,800 153,166
Thai Airways International PCL 952,800 420,202
Thai Carbon Black PCL 44,000 38,335
Thai Oil PCL 584,700 928,668
Thai Stanley Electric PCL 700 4,814
Thanachart Capital PCL 811,900 932,715
The Bangchak Petroleum PCL 805,100 887,658
Thitikorn PCL 59,000 18,742
Thoresen Thai Agencies PCL (I)(L) 796,541 550,270
TMB Bank PCL 9,443,800 897,052
TPI Polene PCL 1,302,600 767,299
Vanachai Group PCL 940,600 239,320
Vinythai PCL 276,900 95,645
28,871,032
Turkey - 2.1%
Adana Cimento Sanayii TAS, Class A 60,198 125,920
Akbank TAS 569,283 1,854,823
Akenerji Elektrik Uretim AS (I)(L) 150,806 72,916
Akfen Holding AS 42,353 84,963
Aksa Akrilik Kimya Sanayi AS 104,930 316,031
Alarko Holding AS (L) 100,330 168,746
Albaraka Turk Katilim Bankasi AS 47,374 34,121
Anadolu Anonim Tuerk Sigorta Sirketi (I)(L) 360,610 220,179
Anadolu Cam Sanayii AS 133,951 95,788
Asya Katilim Bankasi AS (I) 371,165 139,734
Aygaz AS 78,512 320,461
Baticim Bati Anadolu Cimento Sanayii AS 16,440 48,007
Borusan Mannesmann Boru Sanayi ve
       Ticaret AS 66,572 188,111
Deva Holding AS (I) 47,695 40,022
Dogan Sirketler Grubu Holdings AS (I) 1,464,692 424,878
Eczacibasi Yatirim Holding Ortakligi AS 27,948 76,826
EGE Seramik Sanayi ve Ticaret AS 19,278 30,576
EIS Eczacibasi Ilac ve Sinai ve Finansal
       Yatirimlar Sanayi ve Ticaret AS 268,690 252,521
Eregli Demir ve Celik Fabrikalari TAS 818,434 1,520,152
Gentas Genel Metal Sanayi ve Ticaret AS 70,980 47,708
Global Yatirim Holding AS (I) 380,889 234,399
Goldas Kuyumculuk Sanayi Ithalat ve
       Ihracat AS (I) 54,846 5,059
GSD Holding AS (I)(L) 418,949 274,102
Hurriyet Gazetecilik AS (I)(L) 291,507 71,674
Ihlas Holding AS (I) 481,506 61,222
Ipek Dogal Enerji Kaynaklari Ve Uretim AS (I) 52,948 40,978
Is Finansal Kiralama AS 99,843 40,724
Kardemir Karabuk Demir Celik Sanayi ve
       Ticaret AS, Class A (I) 22,975 26,668
Karsan Otomotiv Sanayii ve Ticaret AS (I) 100,721 55,764
KOC Holdings AS 292,261 1,350,802
Menderes Tekstil Sanayi ve Ticaret AS (I) 171,704 62,545
Metro Ticari ve Mali Yatirimlar Holding AS (I) 200,802 53,773
Parsan Makina Parcalari (I) 48,236 95,802
Pinar Entegre Et ve Un Sanayi AS 36,324 144,099
Sarkuysan Elektrolitik Bakir Sanayi ve
       Ticaret AS 168,256 230,692
Sasa Polyester Sanayi (I) 105,156 73,071
Sekerbank TAS (I) 531,398 442,809
Selcuk Ecza Deposu Ticaret ve Sanayi AS 50,128 45,982
Soda Sanayii AS 102,067 170,151
Tekfen Holding AS 118,224 262,803
Tekstil Bankasi AS (I) 84,007 74,517
Trakya Cam Sanayi AS 447,577 501,546
Turcas Petrol AS 47,466 47,165
Turk Hava Yollari (I) 159,792 454,313
Turkiye Garanti Bankasi AS 230,747 811,021
Turkiye Halk Bankasi AS 166,967 1,004,481
Turkiye Is Bankasi, Class C 1,028,262 2,285,076
Turkiye Sinai Kalkinma Bankasi AS 868,913 732,307
Turkiye Sise ve Cam Fabrikalari AS 472,071 598,218
Turkiye Vakiflar Bankasi Tao, Class D 610,015 1,131,027
Uzel Makina Sanayii AS (I) 22,930 0
Vestel Elektronik Sanayi ve Tracaret AS (I) 118,623 327,719
Yapi ve Kredi Bankasi AS (L) 397,319 780,163
18,553,155

The accompanying notes are an integral part of the financial statements. 72


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Emerging Markets Value Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Ukraine - 0.0%
Kernel Holding SA (I) 25,996 $ 194,727  
TOTAL COMMON STOCKS (Cost $849,185,834) $ 864,343,131
         
PREFERRED SECURITIES - 2.8%
Brazil - 2.7%
Banco ABC Brasil SA 72,290 400,175
Banco Daycoval SA 88,000 334,348
Banco do Estado do Rio Grande do Sul SA,
       B Shares 16,600 99,692
Banco Industrial e Comercial SA 155,800 464,647
Banco Pan SA 21,392 27,529
Banco Pine SA 38,200 121,260
Banco Sofisa SA 50,400 56,623
Cia Ferro Ligas da Bahia - Ferbasa 98,024 372,033
Eucatex SA Industria e Comercio 45,078 72,744
Forjas Taurus SA 19,105 3,825
Gerdau SA 201,057 967,604
Parana Banco SA 21,400 94,421
Petroleo Brasileiro SA 753,668 5,569,954
Suzano Papel e Celulose SA, A Shares 207,800   835,360
Unipar Carbocloro SA 767,100   162,963
Usinas Siderurgicas de Minas Gerais SA,
       A Shares (I) 283,685 738,259
Vale SA 1,337,377 12,992,677
23,314,114
Colombia - 0.1%
Grupo de Inversiones Suramericana SA 48,323 966,462
TOTAL PREFERRED SECURITIES (Cost $31,196,607) $ 24,280,576
         
RIGHTS - 0.0%
Agile Property Holdings, Ltd. (Strike Price:
       HKD 4.00) (I)(N) 171,200 16,977
NCC, Ltd. (Expiration Date: 10/17/2014; Strike
       Price: INR 20.00) (I) 307,899 94,224
Yuexiu Property Company, Ltd. (Expiration
       Date: 10/14/2014; Strike Price:
       HKD 1.25) (I) 2,058,293 31,809
TOTAL RIGHTS (Cost $171,282) $ 143,010
         
WARRANTS - 0.0%
Golden Meditech Holdings, Ltd. (Expiration
       Date: 07/30/2015) (I)(N) 116,034 2,256
Loxley PCL (Expiration Date: 09/30/2017;
       Strike Price: THB 7.00) (I) 837 14
TOTAL WARRANTS (Cost $0) $ 2,270
         
SECURITIES LENDING COLLATERAL - 5.2%
John Hancock Collateral
       Investment Trust, 0.1178% (W)(Y) 4,645,246 46,485,441
TOTAL SECURITIES LENDING
COLLATERAL (Cost $46,485,435) $ 46,485,441
Total Investments (Emerging Markets Value Trust)
       (Cost $927,039,158) - 104.9% $ 935,254,428
Other assets and liabilities, net - (4.9%) (43,297,861 )
TOTAL NET ASSETS - 100.0% $ 891,956,567

Equity-Income Trust

Shares or
Principal
Amount        Value
COMMON STOCKS - 90.8%
Consumer discretionary - 10.4%
Auto components - 0.6%
Johnson Controls, Inc. 274,900 $ 12,095,600
Automobiles - 1.0%
Ford Motor Company 662,300 9,795,417
General Motors Company 320,198 10,227,124
20,022,541
Distributors - 0.6%
Genuine Parts Company 134,400 11,788,220
Hotels, restaurants and leisure - 0.9%
Carnival Corp. 451,300 18,128,721
Household durables - 0.1%
Whirlpool Corp. 14,500 2,111,925
Leisure products - 0.9%
Mattel, Inc. 596,375 18,278,894
Media - 3.5%  
Cablevision Systems Corp., Class A (L) 509,600 8,923,096
Comcast Corp., Class A 191,600 10,304,248
News Corp., Class A (I) 166,300 2,719,005
Pearson PLC 315,196   6,330,171
The Madison Square Garden, Inc., Class A (I) 53,100 3,510,972
The New York Times Company, Class A 459,700 5,157,834
The Walt Disney Company 120,500   10,728,115
Time Warner, Inc. 302,300 22,735,983
70,409,424
Multiline retail - 1.9%
Kohl’s Corp. 378,000 23,069,340
Macy’s, Inc. 258,600 15,045,348
38,114,688
Specialty retail - 0.7%
Staples, Inc. 964,100 11,665,610
Tiffany & Company 14,900 1,435,019
13,100,629
Textiles, apparel and luxury goods - 0.2%
Coach, Inc. 137,700 4,903,497
208,954,139
Consumer staples - 4.6%
Beverages - 0.8%
PepsiCo, Inc. 167,000 15,546,030
Food products - 2.4%
Archer-Daniels-Midland Company 436,700 22,315,370
Campbell Soup Company 374,400 15,998,112
ConAgra Foods, Inc. 64,600 2,134,384
McCormick & Company, Inc. 115,000 7,693,500
48,141,366
Household products - 1.0%
Procter & Gamble Company 34,500 2,889,030
The Clorox Company (L) 183,300 17,604,132
20,493,162
Personal products - 0.4%
Avon Products, Inc. 736,400 9,278,640
93,459,198
Energy - 13.4%
Energy equipment and services - 1.2%
Diamond Offshore Drilling, Inc. (L) 244,700 8,385,869

The accompanying notes are an integral part of the financial statements. 73


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Equity-Income Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Energy equipment and services (continued)
Schlumberger, Ltd. 160,400 $ 16,311,076
24,696,945
Oil, gas and consumable fuels - 12.2%
Anadarko Petroleum Corp. 143,400 14,546,496
Apache Corp. 412,300 38,702,601
BP PLC, ADR 237,875 10,454,606
Chevron Corp. 339,600 40,521,072
ConocoPhillips 115,700 8,853,364
CONSOL Energy, Inc. 395,500 14,973,630
Exxon Mobil Corp. 378,000 35,550,900
Hess Corp. 271,700 25,626,744
Murphy Oil Corp. 333,700 18,990,867
Royal Dutch Shell PLC, ADR 395,300 30,094,189
Talisman Energy, Inc. 949,100 8,209,715
246,524,184
271,221,129
Financials - 18.3%
Banks - 10.9%
Bank of America Corp. 1,983,593 33,820,261
JPMorgan Chase & Company 868,175 52,298,862
Regions Financial Corp. 722,300 7,251,892
SunTrust Banks, Inc. 511,200 19,440,936
The PNC Financial Services Group, Inc. 339,600 29,062,968
U.S. Bancorp 831,600 34,785,828
Wells Fargo & Company 836,900 43,410,003
220,070,750
Capital markets - 1.7%
Legg Mason, Inc. 250,102 12,795,218
Northern Trust Corp. 302,100 20,551,863
The Bank of New York Mellon Corp. 13,524 523,785
33,870,866
Consumer finance - 1.0%
American Express Company 227,500 19,915,350
Insurance - 3.4%
Loews Corp. 189,600 7,898,736
Marsh & McLennan Companies, Inc. 517,800 27,101,652
MetLife, Inc. 224,000 12,033,280
Sun Life Financial, Inc. 227,800 8,262,306
The Chubb Corp. 97,300 8,862,084
Willis Group Holdings PLC 124,000 5,133,600
69,291,658
Real estate investment trusts - 1.3%
Digital Realty Trust, Inc. 148,200 9,244,716
Weyerhaeuser Company 500,200 15,936,372
25,181,088
368,329,712
Health care - 6.4%
Health care providers and services - 0.6%
Quest Diagnostics, Inc. (L) 206,200 12,512,216
Pharmaceuticals - 5.8%
Bristol-Myers Squibb Company 425,525 21,778,370
GlaxoSmithKline PLC 425,125 9,711,612
Johnson & Johnson 314,700 33,543,873
Merck & Company, Inc. 450,050 26,678,964
Pfizer, Inc. 865,235 25,584,999
117,297,818
129,810,034
Industrials - 13.1%
Aerospace and defense - 2.2%
Honeywell International, Inc. 238,800 22,237,056
The Boeing Company 166,300 21,183,294
43,420,350
Air freight and logistics - 1.0%
United Parcel Service, Inc., Class B 210,300 20,670,387
Airlines - 0.6%
United Continental Holdings, Inc. (I) 240,900 11,271,711
Building products - 0.9%
Masco Corp. 483,500 11,565,320
USG Corp. (I)(L) 270,300 7,430,547
18,995,867
Electrical equipment - 1.6%
Eaton Corp. PLC 151,404 9,594,471
Emerson Electric Company 349,600 21,877,968
31,472,439
Industrial conglomerates - 2.7%
General Electric Company 2,142,300 54,885,726
Machinery - 4.1%
Deere & Company 167,100 13,700,529
Illinois Tool Works, Inc. 342,700 28,930,734
Joy Global, Inc. (L) 215,900 11,775,186
Stanley Black & Decker, Inc. 181,300 16,097,627
Xylem, Inc. 360,148 12,781,653
83,285,729
264,002,209
Information technology - 10.1%
Communications equipment - 2.7%
Cisco Systems, Inc. 725,900 18,270,903
Harris Corp. 281,000 18,658,400
QUALCOMM, Inc. 241,300 18,042,001
54,971,304
Electronic equipment, instruments and components - 0.8%
Corning, Inc. 832,100 16,092,814
IT services - 1.3%
Computer Sciences Corp. 160,324 9,803,813
International Business Machines Corp. 51,700 9,814,211
The Western Union Company (L) 425,100 6,818,604
26,436,628
Semiconductors and semiconductor equipment - 2.4%
Analog Devices, Inc. 284,200 14,065,058
Applied Materials, Inc. 845,500 18,271,255
Texas Instruments, Inc. 316,200   15,079,578
47,415,891
Software - 1.2%
CA, Inc. 171,800 4,800,092
Microsoft Corp. 414,925 19,235,923
24,036,015
Technology hardware, storage and peripherals - 1.7%  
Apple, Inc. 160,800 16,200,600
Dell, Inc. 1,271,400 18,435,598
34,636,198
203,588,850

The accompanying notes are an integral part of the financial statements. 74


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Equity-Income Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)       
Materials - 4.9%
Chemicals - 1.1%
E.I. du Pont de Nemours & Company 180,900 $ 12,981,384
Potash Corp. of Saskatchewan, Inc. 260,300 8,995,968
21,977,352
Construction materials - 0.7%
Vulcan Materials Company 237,300 14,292,579
Containers and packaging - 0.6%
MeadWestvaco Corp. 273,500 11,197,090
Metals and mining - 1.3%
Newmont Mining Corp. 351,900 8,111,295
Nucor Corp. 344,200 18,683,176
26,794,471
Paper and forest products - 1.2%
International Paper Company 510,100 24,352,174
98,613,666
Telecommunication services - 3.7%
Diversified telecommunication services - 3.5%
AT&T, Inc. 833,349 29,367,219
CenturyLink, Inc. 295,017 12,063,245
Telefonica SA 539,122 8,326,306
Verizon Communications, Inc. 417,885 20,894,627
  70,651,397
Wireless telecommunication services - 0.2%
Vodafone Group PLC 1,329,103 4,379,691
  75,031,088
Utilities - 5.9%
Electric utilities - 4.2%
Duke Energy Corp. 321,719 24,054,930
Entergy Corp. 271,800 21,018,294
Exelon Corp. 481,500 16,414,335
FirstEnergy Corp. 366,600 12,306,762
Xcel Energy, Inc. 403,000 12,251,200
  86,045,521
Independent power and renewable electricity producers - 0.4%
AES Corp. 538,200 7,631,676
Multi-utilities - 1.3%
NiSource, Inc. 642,700 26,337,846
  120,015,043
TOTAL COMMON STOCKS (Cost $1,227,993,624) $ 1,833,025,068
     
SECURITIES LENDING COLLATERAL - 2.7%
John Hancock Collateral
       Investment Trust, 0.1178% (W)(Y) 5,482,402 54,862,950
TOTAL SECURITIES LENDING
COLLATERAL (Cost $54,862,914) $ 54,862,950
     
SHORT-TERM INVESTMENTS - 9.1%
Money market funds - 9.1%
State Street Institutional U.S. Government
       Money Market Fund, 0.0000% (Y) 2,000,008 2,000,008
T. Rowe Price Reserve Investment  
       Fund, 0.0487% (Y) 181,023,363   181,023,363
TOTAL SHORT-TERM INVESTMENTS (Cost $183,023,371) $ 183,023,371
Total Investments (Equity-Income Trust)  
       (Cost $1,465,879,909) - 102.6% $ 2,070,911,389
Other assets and liabilities, net - (2.6%) (53,308,366 )
TOTAL NET ASSETS - 100.0% $ 2,017,603,023

Financial Services Trust

Shares or
Principal       
Amount Value
COMMON STOCKS - 96.0%
Financials - 95.0%
Banks - 55.1%
Bank of America Corp. 366,256 $ 6,244,665
Bank of Marin Bancorp, Class A 4,058 186,222
Bankwell Financial Group, Inc. (I) 21,145 401,121
Barclays PLC, ADR 286,004 4,235,719
BB&T Corp. 55,474 2,064,188
Chemical Financial Corp. 18,204 489,506
CIT Group, Inc. 58,472 2,687,373
Citigroup, Inc. 114,662 5,941,785
Danske Bank A/S 63,311 1,716,217
East West Bancorp, Inc. 71,122 2,418,148
Fifth Third Bancorp 95,693 1,915,774
Flushing Financial Corp. 43,445 793,740
Glacier Bancorp, Inc. 103,603 2,679,174
Green Bancorp, Inc. (I) 26,001 445,917
Independent Bank Corp. 14,185 506,688
Independent Bank Corp. 28,748 342,676
JPMorgan Chase & Company 99,630 6,001,711
M&T Bank Corp. 10,951 1,350,149
MB Financial, Inc. 22,367 619,119
Nordea Bank AB 32,888 426,340
North Valley Bancorp (I) 28,034 604,974
Prosperity Bancshares, Inc. 44,496 2,543,836
Regions Financial Corp. 239,672 2,406,307
Royal Bank of Scotland Group PLC, ADR (I) 327,362 3,905,429
Sandy Spring Bancorp, Inc. 20,922 478,905
SKBHC Holdings LLC (I)(R) 516 2,871,689
SpareBank 1 SR-Bank ASA 40,000 379,823
Square 1 Financial, Inc., Class A (I) 15,412 296,373
State Bank Financial Corp. 49,161 798,375
Sun Bancorp, Inc. (I) 33,114 599,695
SunTrust Banks, Inc. 99,980 3,802,239
SVB Financial Group (I) 36,088 4,045,104
Swedbank AB, Class A 151,105 3,789,034
Talmer Bancorp, Inc., Class A 76,528   1,058,382
The PNC Financial Services Group, Inc. 42,383   3,627,137
U.S. Bancorp 156,128 6,530,834
UniCredit SpA 607,932 4,775,845
Union Bankshares Corp. 72,752 1,680,571
Wells Fargo & Company 102,905 5,337,682
Yadkin Financial Corp. (I) 33,417 606,853
Zions Bancorporation 108,813 3,162,106
94,767,425

The accompanying notes are an integral part of the financial statements. 75


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Financial Services Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Capital markets - 18.9%
American Capital, Ltd. (I) 337,584 $ 4,780,189
Ameriprise Financial, Inc. 46,099 5,687,695
Apollo Global Management LLC, Class A 99,737 2,377,730
Intermediate Capital Group PLC 174,561 1,108,442
Invesco, Ltd. 98,769 3,899,400
KKR & Company LP 150,125 3,347,788
State Street Corp. 26,702 1,965,534
The Blackstone Group LP 201,184 6,333,272
The Carlyle Group LP 99,558 3,032,537
32,532,587
Consumer finance - 3.1%
Discover Financial Services 83,958 5,406,056
Diversified financial services - 0.1%
NewStar Financial, Inc. (I) 10,295   115,716
Insurance - 12.1%
ACE, Ltd.   23,927 2,509,224
American International Group, Inc. 77,369   4,179,473
Assured Guaranty, Ltd. 166,182 3,682,593
CNO Financial Group, Inc. 260,509 4,418,233
Lincoln National Corp. 46,610 2,497,364
MetLife, Inc. 30,237 1,624,332
The Hartford Financial Services Group, Inc. 49,838 1,856,466
20,767,685
Real estate investment trusts - 5.0%
CoreSite Realty Corp. 13,137 431,813
DiamondRock Hospitality Company 68,540 869,087
Essex Property Trust, Inc. 6,797 1,214,964
FelCor Lodging Trust, Inc. 145,066 1,357,818
General Growth Properties, Inc. 36,187 852,204
Rexford Industrial Realty, Inc. 64,604 894,119
Simon Property Group, Inc. 18,217 2,995,239
8,615,244
Thrifts and mortgage finance - 0.7%
First Defiance Financial Corp. 10,826 292,410
HomeStreet, Inc. 27,014 461,669
United Community Financial Corp. 89,958 421,003
1,175,082
163,379,795
Information technology - 1.0%
IT services - 1.0%
Visa, Inc., Class A 7,939 1,693,944
TOTAL COMMON STOCKS (Cost $162,364,052) $ 165,073,739
 
WARRANTS - 0.6%
Citigroup, Inc. (Expiration Date: 01/04/2019;
       Strike Price: $106.10) (I) 185,654 176,371
Comerica, Inc. (Expiration Date: 11/14/2018;
       Strike Price: $29.40) (I) 29,110 599,084
The PNC Financial Services Group, Inc.
       (Expiration Date: 12/31/2018; Strike
       Price: $67.33) (I) 6,265 142,591
TOTAL WARRANTS (Cost $878,936) $ 918,046
SHORT-TERM INVESTMENTS - 1.6%
Repurchase agreement - 1.6%
Repurchase Agreement with State Street Corp.
       dated 09/30/2014 at 0.000% to be
       repurchased at $2,801,000 on 10/01/2014,
       collateralized by $2,835,000 Federal Home
       Loan Mortgage Corp., 1.680% due
       11/19/2018 (valued at $2,859,806,
       including interest) $ 2,801,000 $ 2,801,000
TOTAL SHORT-TERM INVESTMENTS (Cost $2,801,000) $ 2,801,000
Total Investments (Financial Services Trust)
       (Cost $166,043,988) - 98.2% $ 168,792,785
Other assets and liabilities, net - 1.8% 3,098,910
TOTAL NET ASSETS - 100.0% $ 171,891,695

Franklin Templeton Founding Allocation Trust
      
Shares or
Principal
Amount       Value
INVESTMENT COMPANIES - 100.0%
Affiliated Investment Companies (G) - 100.0%
Equity - 66.5%
Global, Series NAV (Templeton) 21,383,402 $ 439,642,739
Mutual Shares, Series NAV (Franklin) 31,358,927 442,788,045
882,430,784
Fixed income - 33.5%
Income, Series NAV (Franklin) 35,039,196 443,596,221
TOTAL INVESTMENT COMPANIES (Cost $993,229,312) $ 1,326,027,005
Total Investments (Franklin Templeton Founding Allocation
       Trust) (Cost $993,229,312) - 100.0% $ 1,326,027,005
Other assets and liabilities, net - 0.0% (62,597 )
TOTAL NET ASSETS - 100.0% $ 1,325,964,408

Fundamental All Cap Core Trust
 
Shares or
Principal
Amount       Value
COMMON STOCKS - 99.2%
Consumer discretionary - 21.4%
Hotels, restaurants and leisure - 1.3%
Starbucks Corp. 281,347 $ 21,230,445
Household durables - 7.6%
Lennar Corp., Class A 1,729,687 67,163,746
NVR, Inc. (I) 25,963 29,338,709
Tempur Sealy International, Inc. (I) 504,815 28,355,459
124,857,914
Internet and catalog retail - 8.1%
Amazon.com, Inc. (I) 409,070 131,900,531
Specialty retail - 2.9%
CarMax, Inc. (I) 513,066 23,831,916
Lowe’s Companies, Inc. 435,298 23,035,970
46,867,886

The accompanying notes are an integral part of the financial statements. 76


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Fundamental All Cap Core Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Textiles, apparel and luxury goods - 1.5%
adidas AG 336,323 $ 25,094,883
349,951,659
Consumer staples - 2.5%
Beverages - 2.5%
Diageo PLC, ADR 129,027 14,889,716
SABMiller PLC 464,907 25,764,155
40,653,871
40,653,871
Energy - 4.4%
Energy equipment and services - 1.9%
National Oilwell Varco, Inc. 213,750 16,266,375
Schlumberger, Ltd. 142,489 14,489,706
30,756,081
Oil, gas and consumable fuels - 2.5%
Cabot Oil & Gas Corp. 748,980 24,484,156
Range Resources Corp. 239,771     16,258,872
40,743,028
71,499,109
Financials - 30.0%
Banks - 13.2%
Bank of America Corp. 5,109,805 87,122,174
CIT Group, Inc.   439,031 20,177,865
Citigroup, Inc. 1,169,925 60,625,514
JPMorgan Chase & Company 802,921 48,367,961
216,293,514
Capital markets - 13.2%
AllianceBernstein Holding LP 1,898,931 49,391,195
Morgan Stanley 1,453,296 50,240,443
Northern Trust Corp. 290,983 19,795,573
T. Rowe Price Group, Inc. 460,582 36,109,629
The Goldman Sachs Group, Inc. 323,023 59,297,332
214,834,172
Insurance - 3.6%
American International Group, Inc. 1,098,156 59,322,387
490,450,073
Health care - 1.6%
Health care providers and services - 1.6%
AMN Healthcare Services, Inc. (I) 1,686,322 26,475,255
Industrials - 5.9%
Aerospace and defense - 1.6%
TransDigm Group, Inc. 134,472 24,787,224
Electrical equipment - 1.4%
Sensata Technologies Holding NV (I) 519,245 23,121,980
Professional services - 1.1%
IHS, Inc., Class A (I) 145,177 18,174,709
Trading companies and distributors - 1.8%
United Rentals, Inc. (I) 265,303 29,475,163
95,559,076
Information technology - 29.8%
Communications equipment - 4.0%
QUALCOMM, Inc. 874,453 65,382,851
Internet software and services - 15.0%
Alibaba Group Holding, Ltd., ADR (I) 46,938 4,170,441
Bankrate, Inc. (I) 4,016,478 45,627,190
Facebook, Inc., Class A (I) 1,359,120 107,424,845
Google, Inc., Class A (I) 47,692 28,062,450
Google, Inc., Class C (I) 46,298 26,730,613
LinkedIn Corp., Class A (I) 154,949 32,196,853
244,212,392
IT services - 1.3%
Blackhawk Network Holdings, Inc., Class B (I) 674,734 21,793,908
Software - 1.4%
Workday, Inc., Class A (I) 272,634 22,492,305
Technology hardware, storage and peripherals - 8.1%
Apple, Inc. 559,264 56,345,848
EMC Corp. 1,748,062 51,148,294
NetApp, Inc. 592,196 25,440,740
132,934,882
486,816,338
Materials - 3.6%
Containers and packaging - 1.9%
Avery Dennison Corp. 675,132 30,144,644
Paper and forest products - 1.7%
Louisiana-Pacific Corp. (I) 2,062,337 28,027,160
58,171,804
TOTAL COMMON STOCKS (Cost $1,264,066,627) $ 1,619,577,185
 
SHORT-TERM INVESTMENTS - 0.6%
Repurchase agreement - 0.6%
Barclays Tri-Party Repurchase Agreement
       dated 09/30/2014 at 0.000% to be
       repurchased at $7,882,000 on 10/01/2014,
       collateralized by $3,868,100 U.S. Treasury
       Inflation Indexed Bonds, 3.875% due
       04/15/2029 (valued at $8,039,768,
       including interest) $ 7,882,000 $ 7,882,000
Repurchase Agreement with State Street Corp.
       dated 09/30/2014 at 0.000% to be
       repurchased at $2,194,000 on 10/01/2014
       collateralized by $2,265,000 U.S. Treasury
       Notes, 1.250% due 11/30/2018 (valued at
       $2,239,519, including interest) 2,194,000 2,194,000
10,076,000
TOTAL SHORT-TERM INVESTMENTS (Cost $10,076,000) $ 10,076,000
Total Investments (Fundamental All Cap Core Trust)
       (Cost $1,274,142,627) - 99.8% $ 1,629,653,185
Other assets and liabilities, net - 0.2% 3,031,254
TOTAL NET ASSETS - 100.0% $ 1,632,684,439
  
Fundamental Large Cap Value Trust
  
Shares or
Principal
Amount Value
COMMON STOCKS - 98.4%
Consumer discretionary - 11.7%
Household durables - 6.8%
Lennar Corp., Class A 990,497 $ 38,460,999
NVR, Inc. (I) 15,920 17,989,918

The accompanying notes are an integral part of the financial statements. 77


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Fundamental Large Cap Value Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Household durables (continued)
Tempur Sealy International, Inc. (I) 483,442 $ 27,154,937
83,605,854
Specialty retail - 3.7%
Advance Auto Parts, Inc. 134,671 17,547,631
Lowe’s Companies, Inc. 527,545 27,917,681
45,465,312
Textiles, apparel and luxury goods - 1.2%
adidas AG 196,764 14,681,629
143,752,795
Consumer staples - 10.2%
Beverages - 5.7%  
Diageo PLC, ADR 130,034 15,005,924
Heineken Holding NV 190,150 12,554,585
PepsiCo, Inc. 225,746 21,014,695
SABMiller PLC 386,613 21,425,268
70,000,472
Food products - 1.0%  
Danone SA 179,692 12,033,238
Household products - 1.3%
Procter & Gamble Company 185,268 15,514,342
Tobacco - 2.2%  
Imperial Tobacco Group PLC 340,531 14,661,880
Philip Morris International, Inc. 153,607 12,810,824
27,472,704
125,020,756
Energy - 12.9%
Energy equipment and services - 3.0%
National Oilwell Varco, Inc. 180,019 13,699,446
Weatherford International PLC (I) 1,101,494 22,911,075
36,610,521
Oil, gas and consumable fuels - 9.9%
Apache Corp. 294,683 27,661,893
Cabot Oil & Gas Corp. 538,444 17,601,734
Chevron Corp. 168,414 20,095,158
Exxon Mobil Corp. 132,555 12,466,798
Occidental Petroleum Corp. 367,671 35,351,567
Southwestern Energy Company (I) 261,227 9,129,884
122,307,034
158,917,555
Financials - 33.2%
Banks - 17.0%
Bank of America Corp. 3,651,247 62,253,761
CIT Group, Inc. 554,030 25,463,219
Citigroup, Inc. 845,568 43,817,334
JPMorgan Chase & Company 962,103 57,957,085
Wells Fargo & Company 363,072 18,832,545
208,323,944
Capital markets - 11.9%
AllianceBernstein Holding LP 1,091,396 28,387,210
Morgan Stanley 989,190 34,196,298
Northern Trust Corp. 212,311 14,443,517
State Street Corp. 254,536 18,736,395
The Goldman Sachs Group, Inc. 272,456 50,014,748
145,778,168
Insurance - 4.3%
American International Group, Inc. 974,940 52,666,259
406,768,371
Health care - 6.0%
Biotechnology - 1.1%
Amgen, Inc. 100,076 14,056,675
Health care equipment and supplies - 1.6%
Medtronic, Inc. 317,299 19,656,673
Pharmaceuticals - 3.3%
Merck & Company, Inc. 340,326 20,174,525
Novartis AG, ADR 212,021 19,957,537
40,132,062
73,845,410
Industrials - 9.0%
Air freight and logistics - 1.9%
FedEx Corp. 143,110 23,105,110
Electrical equipment - 1.4%
Sensata Technologies Holding NV (I) 382,184 17,018,654
Industrial conglomerates - 4.3%
Danaher Corp. 202,349 15,374,477
General Electric Company 1,437,886 36,838,639
52,213,116
Trading companies and distributors - 1.4%
United Rentals, Inc. (I) 158,490 17,608,239
109,945,119
Information technology - 12.3%
Communications equipment - 4.3%
Cisco Systems, Inc. 838,923 21,115,692
QUALCOMM, Inc. 430,191 32,165,381
53,281,073
Semiconductors and semiconductor equipment - 1.1%
Intel Corp. 376,343 13,104,263
Software - 3.4%
Microsoft Corp. 457,791 21,223,191
Oracle Corp. 525,417 20,112,963
41,336,154
Technology hardware, storage and peripherals - 3.5%
Apple, Inc. 432,891 43,613,768
151,335,258
Materials - 3.1%
Containers and packaging - 1.2%
Avery Dennison Corp. 311,929 13,927,630
Paper and forest products - 1.9%
Louisiana-Pacific Corp. (I) 1,731,235 23,527,484
37,455,114
TOTAL COMMON STOCKS (Cost $1,047,456,115) $ 1,207,040,378

The accompanying notes are an integral part of the financial statements. 78


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Fundamental Large Cap Value Trust (continued)

Shares or
Principal
Amount       Value
SHORT-TERM INVESTMENTS - 1.2%
Repurchase agreement - 1.2%
Repurchase Agreement with State Street Corp.
       dated 09/30/2014 at 0.000% to be
       repurchased at $3,186,000 on 10/01/2014,
       collateralized by $3,225,000, Federal Home
       Loan Mortgage Corp., 1.680% due  
       11/19/2018 (valued at $3,253,219,
       including interest) $ 3,186,000 $ 3,186,000
Barclays Tri-Party Repurchase Agreement
       dated 09/30/2014 at 0.000% to be
       repurchased at $11,446,000 on 10/01/2014,
       collateralized by $5,617,100 U.S. Treasury
       Inflation Indexed Bonds, 3.875% due
       04/15/2029 (valued at $11,675,030,
       including interest) 11,446,000 11,446,000
14,632,000
TOTAL SHORT-TERM INVESTMENTS (Cost $14,632,000)   $ 14,632,000
Total Investments (Fundamental Large Cap Value Trust)  
       (Cost $1,062,088,115) - 99.6% $ 1,221,672,378
Other assets and liabilities, net - 0.4%   5,255,321
TOTAL NET ASSETS - 100.0% $ 1,226,927,699
   
Fundamental Value Trust
   
Shares or
Principal
Amount Value
COMMON STOCKS - 99.8%
Consumer discretionary - 12.1%
Household durables - 7.1%
Lennar Corp., Class A 518,036 $ 20,115,338
NVR, Inc. (I) 7,730 8,735,055
Tempur Sealy International, Inc. (I) 234,531 13,173,606
42,023,999
Specialty retail - 3.8%
Advance Auto Parts, Inc. 64,629 8,421,159
Lowe’s Companies, Inc. 263,530 13,946,008
22,367,167
Textiles, apparel and luxury goods - 1.2%
adidas AG 92,743 6,920,058
71,311,224
Consumer staples - 10.4%
Beverages - 5.8%
Diageo PLC, ADR 63,454 7,322,592
Heineken Holding NV 92,862 6,131,180
PepsiCo, Inc. 111,837 10,410,906
SABMiller PLC 188,519 10,447,321
34,311,999
Food products - 1.0%
Danone SA 87,010 5,826,704
Household products - 1.3%
Procter & Gamble Company 92,503 7,746,201
Tobacco - 2.3%
Imperial Tobacco Group PLC 161,100 6,936,311
Philip Morris International, Inc. 75,351 6,284,273
13,220,584
61,105,488
Energy - 13.2%
Energy equipment and services - 3.0%
National Oilwell Varco, Inc. 85,861 6,534,022
Weatherford International PLC (I) 541,570 11,264,656
17,798,678
Oil, gas and consumable fuels - 10.2%
Apache Corp. 149,331 14,017,701
Cabot Oil & Gas Corp. 255,300 8,345,757
Chevron Corp. 85,067 10,150,194
Exxon Mobil Corp. 65,139 6,126,323
Occidental Petroleum Corp. 178,859 17,197,293
Southwestern Energy Company (I) 125,023 4,369,554
60,206,822
78,005,500
Financials - 33.1%
Banks - 17.0%
Bank of America Corp. 1,750,158 29,840,194
CIT Group, Inc. 265,116 12,184,731
Citigroup, Inc. 407,574 21,120,485
JPMorgan Chase & Company 468,578 28,227,139
Wells Fargo & Company 178,958 9,282,551
100,655,100
Capital markets - 12.0%
AllianceBernstein Holding LP 522,631 13,593,632
Morgan Stanley 476,802 16,483,045
Northern Trust Corp. 104,425 7,104,033
State Street Corp. 124,627 9,173,793
The Goldman Sachs Group, Inc. 132,075 24,245,008
70,599,511
Insurance - 4.1%
American International Group, Inc. 449,883 24,302,680
195,557,291
Health care - 6.2%
Biotechnology - 1.2%
Amgen, Inc. 49,078 6,893,496
Health care equipment and supplies - 1.7%
Medtronic, Inc. 158,733 9,833,509
Pharmaceuticals - 3.3%
Merck & Company, Inc. 160,285 9,501,695
Novartis AG, ADR 107,276 10,097,890
19,599,585
36,326,590
Industrials - 9.0%
Air freight and logistics - 1.9%
FedEx Corp. 68,431 11,048,185
Electrical equipment - 1.3%
Sensata Technologies Holding NV (I) 179,412 7,989,216
Industrial conglomerates - 4.3%
Danaher Corp. 99,489 7,559,174
General Electric Company 697,585 17,872,128
25,431,302

The accompanying notes are an integral part of the financial statements. 79


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Fundamental Value Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Trading companies and distributors - 1.5%
United Rentals, Inc. (I) 77,925 $ 8,657,468
53,126,171
Information technology - 12.6%
Communications equipment - 4.4%
Cisco Systems, Inc. 411,285 10,352,043
QUALCOMM, Inc. 212,767 15,908,589
26,260,632
Semiconductors and semiconductor equipment - 1.1%
Intel Corp. 186,131 6,481,081
Software - 3.5%
Microsoft Corp. 227,837 10,562,523
Oracle Corp. 256,374 9,813,997
20,376,520
Technology hardware, storage and peripherals - 3.6%
Apple, Inc. 212,839 21,443,529
74,561,762
Materials - 3.2%
Paper and forest products - 1.9%
Louisiana-Pacific Corp. (I) 838,350     11,393,177
Containers and packaging - 1.3%
Avery Dennison Corp. 169,440 7,565,496
18,958,673
TOTAL COMMON STOCKS (Cost $554,537,245)   $ 588,952,699
Total Investments (Fundamental Value Trust)
       (Cost $554,537,245) - 99.8% $ 588,952,699
Other assets and liabilities, net - 0.2% 905,282
TOTAL NET ASSETS - 100.0% $ 589,857,981
  
Global Trust
   
Shares or
Principal
Amount Value
COMMON STOCKS - 97.9%
Brazil - 0.5%
Petroleo Brasileiro SA, Class A, ADR 203,760 $ 3,033,986
Canada - 1.4%
Talisman Energy, Inc. 1,016,140 8,791,818
China - 1.4%
China Shenhua Energy Company, Ltd.,
       H Shares 1,695,890 4,720,678
China Telecom Corp., Ltd., ADR (L) 53,040 3,258,247
Dongfang Electric Corp., Ltd., H Shares 656,556 1,183,970
9,162,895
Denmark - 0.6%
FLSmidth & Company A/S (L) 80,760 3,851,430
France - 9.6%
Alstom SA (I) 46,810 1,605,167
AXA SA 344,246 8,479,658
BNP Paribas SA 129,690 8,607,289
Cie Generale des Etablissements Michelin 83,612 7,875,478
Credit Agricole SA 529,700 7,984,440
Sanofi 93,200 10,538,181
Technip SA 9,400 788,528
Total SA 178,610 11,565,729
Vivendi SA (I) 150,144 3,625,645
61,070,115
Germany - 5.9%
Commerzbank AG (I) 176,910 2,626,957
Deutsche Lufthansa AG 568,870 8,932,469
Merck KGaA 76,200 7,003,956
Metro AG (I) 192,410 6,310,103
Muenchener Rueckversicherungs AG 19,950 3,935,486
SAP SE 14,430 1,041,408
Siemens AG 63,450 7,550,045
37,400,424
Hong Kong - 1.0%
China Mobile, Ltd. 187,000 2,185,928
Kunlun Energy Company, Ltd. 2,927,830 4,224,974
6,410,902
India - 0.5%
ICICI Bank, Ltd., ADR 63,640 3,124,724
Ireland - 1.5%
CRH PLC 422,064 9,585,198
Israel - 1.9%
Teva Pharmaceutical Industries, Ltd., ADR (L) 222,910 11,981,413
Italy - 2.9%
Eni SpA 299,420 7,104,106
Saipem SpA (I) 144,410 3,062,417
UniCredit SpA 1,031,599 8,104,125
18,270,648
Japan - 2.6%
Konica Minolta, Inc. 319,010 3,448,670
Nissan Motor Company, Ltd. 752,800 7,287,213
Toyota Motor Corp. 100,250 5,898,624
16,634,507
Netherlands - 6.0%
Akzo Nobel NV 114,356 7,824,375
Fugro NV 173,073 5,225,677
ING Groep NV (I) 465,062 6,610,492
Koninklijke Philips NV 150,850 4,796,999
NN Group NV (I) 89,800 2,607,109
QIAGEN NV (I) 124,219 2,814,178
Royal Dutch Shell PLC, B Shares 149,040 5,892,144
TNT Express NV 351,140 2,215,181
37,986,155
Portugal - 1.3%
Galp Energia SGPS SA 507,860 8,253,896
Russia - 2.7%
Lukoil OAO, ADR 65,500 3,333,950
MMC Norilsk Nickel OJSC, ADR 430,530 8,029,385
Mobile Telesystems OJSC, ADR 383,550 5,730,237
17,093,572
Singapore - 2.0%
DBS Group Holdings, Ltd. 419,510 6,050,394
Singapore Telecommunications, Ltd. 2,260,100 6,782,683
12,833,077
South Korea - 4.8%
KB Financial Group, Inc., ADR 197,388 7,149,393
POSCO 22,550 6,936,216

The accompanying notes are an integral part of the financial statements. 80


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Global Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
South Korea (continued)
Samsung Electronics Company, Ltd. 14,610 $ 16,363,307
30,448,916
Spain - 1.3%
Telefonica SA 542,350 8,376,160
Sweden - 1.6%
Getinge AB, B Shares 229,750 5,768,423
Telefonaktiebolaget LM Ericsson, B Shares 361,217 4,554,535
10,322,958
Switzerland - 3.9%
Credit Suisse Group AG (I) 304,904 8,435,369
Roche Holding AG 40,890 12,074,937
Swiss Re AG (I) 53,320 4,243,328
24,753,634
Thailand - 0.3%
Bangkok Bank PCL 294,700 1,851,544
Turkey - 1.1%
Turkcell Iletisim Hizmetleri AS, ADR (I)(L) 530,020 6,964,463
United Kingdom - 10.8%
Aviva PLC 1,053,569 8,913,270
BAE Systems PLC 592,240 4,507,937
BP PLC 829,365 6,067,083
British Sky Broadcasting Group PLC 204,000 2,909,681
GlaxoSmithKline PLC 417,928 9,547,203
HSBC Holdings PLC 831,239 8,466,313
International Consolidated
       Airlines Group SA (I) 880,180 5,224,864
Kingfisher PLC 1,431,827 7,488,275
Noble Corp. PLC 223,540 4,967,059
Serco Group PLC 780,971 3,626,051
Tesco PLC 1,232,244 3,681,032
Vodafone Group PLC 1,094,541 3,606,756
69,005,524
United States - 32.3%
Actavis PLC (I) 24,818 5,988,087
American International Group, Inc. 184,350 9,958,587
Amgen, Inc. 87,620 12,307,105
Baker Hughes, Inc. 48,050 3,126,133
Best Buy Company, Inc. 116,260 3,905,173
Chevron Corp. 47,240 5,636,677
Cisco Systems, Inc. 301,910 7,599,075
Citigroup, Inc. 249,360 12,921,835
Comcast Corp., Special Class A 229,930 12,301,255
CVS Health Corp. 75,230 5,987,556
Flextronics International, Ltd. (I) 295,610 3,050,695
Hewlett-Packard Company 305,130 10,822,961
JPMorgan Chase & Company 139,760 8,419,142
Medtronic, Inc. 164,650 10,200,068
Merck & Company, Inc. 172,300 10,213,944
Microsoft Corp. 412,580 19,127,209
Morgan Stanley 288,680 9,979,668
Navistar International Corp. (I)(L) 227,630 7,491,303
News Corp., Class A (I) 102,687 1,678,932
Oracle Corp. 78,500 3,004,980
Paragon Offshore PLC (I)(L) 74,513 458,253
Pfizer, Inc. 328,100 9,701,917
SunTrust Banks, Inc. 161,180 6,129,675
Target Corp. 67,980 4,260,986
The Walt Disney Company 44,830 3,991,215
Twenty-First Century Fox, Inc., Class A 206,880 7,093,915
United Parcel Service, Inc., Class B 82,050 8,064,695
Verizon Communications, Inc. 52,775 2,641,974
206,063,015
TOTAL COMMON STOCKS (Cost $530,656,481) $ 623,270,974
 
SECURITIES LENDING COLLATERAL - 2.2%
John Hancock Collateral
       Investment Trust, 0.1178% (W)(Y) 1,435,503 14,365,220
TOTAL SECURITIES LENDING
COLLATERAL (Cost $14,365,137) $ 14,365,220
 
SHORT-TERM INVESTMENTS - 1.9%
Time deposits - 1.9%
Bank of Montreal
       0.040%, 10/01/2014* $ 12,000,000 $ 12,000,000
TOTAL SHORT-TERM INVESTMENTS (Cost $12,000,000) $ 12,000,000
Total Investments (Global Trust) (Cost $557,021,618) - 102.0% $ 649,636,194
Other assets and liabilities, net - (2.0%) (12,737,009 )
TOTAL NET ASSETS - 100.0% $ 636,899,185
 
Global Bond Trust
 
Shares or
Principal
Amount Value
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS - 20.5%
U.S. government - 10.0%
Treasury Inflation Protected Securities  
       0.125%, 07/15/2022 to 01/15/2023 $ 1,652,276 $ 1,601,229
       1.375%, 01/15/2020 550,885 586,133
       1.750%, 01/15/2028 2,274,540   2,534,336
       2.375%, 01/15/2027   827,001 979,415
       2.500%, 01/15/2029 4,660,740   5,693,019
U.S. Treasury Bonds  
       2.750%, 08/15/2042 900,000 824,625
       3.125%, 11/15/2041 to 08/15/2044 3,200,000 3,152,124
       3.375%, 05/15/2044 500,000 516,250
       3.625%, 08/15/2043 to 02/15/2044 25,400,000 27,452,685
       3.750%, 11/15/2043 2,200,000 2,431,686
       5.500%, 08/15/2028 7,800,000 10,239,934
       6.250%, 05/15/2030 900,000 1,286,015
U.S. Treasury Notes
       1.750%, 10/31/2020 (D) 800,000 785,062
       2.000%, 11/30/2020 to 02/15/2023 (D) 6,800,000 6,676,307
       2.500%, 08/15/2023 (D) 5,400,000 5,433,750
       2.500%, 05/15/2024 2,200,000 2,202,064
       2.750%, 11/15/2023 5,100,000 5,228,693
77,623,327
U.S. government agency - 10.5%
Federal Home Loan Mortgage Corp.
       5.400%, 03/01/2035 (P) 62,562 66,688
Federal National Mortgage Association
       2.006%, 12/01/2034 (P) 158,179 165,974
       2.485%, 11/01/2034 (P) 961,231 1,027,253
       3.000%, TBA (C) 1,000,000 982,998
       3.500%, TBA (C) 50,000,000 52,562,505
       4.500%, TBA (C) 24,000,000 25,896,607
       4.500%, 03/01/2028 87,972 95,642

The accompanying notes are an integral part of the financial statements. 81


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Global Bond Trust (continued)

Shares or
Principal
Amount       Value
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS (continued)
U.S. government agency (continued)
Federal National Mortgage
Association (continued)
       5.141%, 05/01/2035 (P) $ 96,522 $ 102,680
Government National
       Mortgage Association
       1.625%, 11/20/2023 to 06/20/2030 (P) 108,521 111,021
       2.000%, 04/20/2030 to 05/20/2030 (P) 11,465 12,033
  81,023,401
TOTAL U.S. GOVERNMENT AND AGENCY
OBLIGATIONS (Cost $158,763,177) $ 158,646,728
   
FOREIGN GOVERNMENT
OBLIGATIONS - 58.8%
Australia - 0.7%
New South Wales Treasury Corp.
       2.750%, 11/20/2025 AUD 1,500,000 1,791,954
       3.750%, 11/20/2020 100,000 115,355
       4.000%, 05/20/2026 1,500,000 1,309,430
Queensland Treasury Corp.  
       4.250%, 07/21/2023 (S)   2,800,000 2,517,982
  5,734,721
Belgium - 0.6%
European Union
       2.750%, 06/03/2016 EUR 3,500,000 4,623,179
4,623,179
Brazil - 7.9%
Federative Republic of Brazil
       9.931%, 10/01/2015 (Z) BRL 43,700,000 15,943,524
       10.000%, 01/01/2021 to 01/01/2025 123,100,000 45,528,323
61,471,847
Canada - 2.0%
Province of British Columbia
       4.300%, 06/18/2042 CAD 600,000 616,570
Province of Ontario
       2.450%, 06/29/2022 $ 1,300,000 1,272,384
       3.450%, 06/02/2045 CAD 1,100,000 955,687
       3.500%, 06/02/2024 5,100,000 4,748,312
Province of Quebec
       2.750%, 08/25/2021 $ 4,300,000 4,332,581
       3.000%, 09/01/2023 CAD 1,700,000 1,526,486
       4.250%, 12/01/2021 2,200,000 2,174,758
15,626,778
France - 9.6%
Caisse d’Amortissement de la
       Dette Sociale
       1.125%, 01/30/2017 (S) $ 3,300,000 3,315,154
       3.375%, 03/20/2024 (S) 1,300,000 1,355,868
Government of France
       1.000%, 05/25/2018 EUR 24,700,000 32,208,141
       1.750%, 05/25/2023 to 11/25/2024 7,000,000 9,245,594
       3.000%, 04/25/2022 2,500,000 3,669,162
       3.250%, 05/25/2045 2,500,000 3,769,700
       4.000%, 10/25/2038 3,300,000 5,555,566
       4.500%, 04/25/2041 8,600,000 15,720,281
74,839,466
Germany - 0.5%
Federal Republic of Germany
       0.100%, 04/15/2023 1,031,530 1,371,862
       0.750%, 04/15/2018 1,799,875 2,389,091
3,760,953
Italy - 5.9%
Republic of Italy
       3.750%, 09/01/2024 4,700,000 6,663,776
       4.500%, 05/01/2023 to 03/01/2024 8,100,000 12,159,704
       4.750%, 09/01/2044 (S) 1,300,000 1,972,411
       5.500%, 09/01/2022 to 11/01/2022 13,400,000 21,291,646
       6.000%, 08/04/2028 GBP 2,000,000 3,814,339
45,901,876
Japan - 5.4%
Government of Japan
       1.600%, 03/20/2033 JPY 1,610,000,000 15,565,995
       1.700%, 09/20/2032 2,670,000,000 26,340,624
41,906,619
Mexico - 5.8%
Government of Mexico
       1.290%, 06/08/2015 1,100,000,000 10,079,390
       7.500%, 06/03/2027 MXN 91,600,000 7,457,463
       7.750%, 05/29/2031 to 11/23/2034 159,530,000 13,119,263
       8.000%, 12/07/2023 80,000,000 6,746,382
       9.500%, 12/18/2014 40,000,000 3,016,930
       10.000%, 12/05/2024 44,900,000 4,316,705
44,736,133
New Zealand - 2.3%
Dominion of New Zealand
       2.000%, 09/20/2025 NZD 3,800,000 2,941,640
       5.000%, 03/15/2019 6,800,000 5,526,436
       5.500%, 04/15/2023 4,400,000 3,764,125
       6.000%, 12/15/2017 to 05/15/2021 6,300,000 5,434,665
17,666,866
Norway - 0.2%
Kommunalbanken AS
       0.614%, 03/27/2017 (P) $ 1,500,000 1,510,098
1,510,098
Slovenia - 2.5%
Republic of Slovenia
       4.700%, 11/01/2016 (S) EUR 4,800,000 6,538,075
       4.750%, 05/10/2018 $ 7,700,000 8,229,375
       5.250%, 02/18/2024 (S) 4,100,000 4,366,500
19,133,950
Spain - 10.4%
Kingdom of Spain
       3.800%, 04/30/2024 (S) EUR 26,100,000 37,901,229
       4.400%, 10/31/2023 (S) 9,200,000 13,978,124
       5.400%, 01/31/2023 (S) 15,000,000 24,199,226
Xunta de Galicia
       6.131%, 04/03/2018 2,900,000 4,275,289
80,353,868
United Kingdom - 5.0%
Government of United Kingdom
       2.250%, 09/07/2023 GBP 1,700,000 2,742,148
       2.750%, 09/07/2024 1,900,000 3,166,739
       3.250%, 01/22/2044 11,800,000 19,818,504
       3.500%, 01/22/2045 1,700,000 2,988,200
       4.250%, 06/07/2032 to 12/07/2040 3,100,000 6,106,461

The accompanying notes are an integral part of the financial statements. 82


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Global Bond Trust (continued)

Shares or
Principal
Amount		       Value
FOREIGN GOVERNMENT
OBLIGATIONS (continued)
United Kingdom (continued)
Government of United Kingdom (continued)
       4.500%, 09/07/2034 GBP 1,300,000 $ 2,609,480
       4.750%, 12/07/2038 600,000 1,269,096
38,700,628
TOTAL FOREIGN GOVERNMENT
OBLIGATIONS (Cost $467,668,966) $ 455,966,982
 
CORPORATE BONDS - 17.2%
Australia - 1.6%
Australia & New Zealand Banking
       Group, Ltd.  
       1.000%, 10/06/2015 (S) $ 9,800,000 9,849,486
Westpac Banking Corp.  
       1.850%, 11/26/2018 (S) 2,300,000 2,291,499
12,140,985
Brazil - 0.8%  
Petrobras Global Finance BV
       3.115%, 03/17/2020 (P) 900,000 916,470
       3.250%, 03/17/2017 5,100,000 5,161,047
6,077,517
Denmark - 0.0%
Nykredit Realkredit A/S
       6.000%, 10/01/2029 DKK 75,153 14,971
Realkredit Danmark A/S
       1.300%, 01/01/2038 (P) 329,856 58,739
73,710
France - 1.4%
BNP Paribas Home Loan Covered
       Bonds SA
       2.200%, 11/02/2015 (S) $ 5,800,000 5,896,500
Cie de Financement Foncier SA
       2.500%, 09/16/2015 (S) 5,100,000 5,194,212
11,090,712
Germany - 2.6%
FMS Wertmanagement AoeR
       2.750%, 06/03/2016 EUR 3,700,000 4,886,613
       3.375%, 06/17/2021 2,200,000 3,290,600
KFW
       2.000%, 09/07/2016 1,800,000 2,361,539
       6.250%, 05/19/2021 AUD 9,900,000 9,894,739
20,433,491
Greece - 0.1%
National Bank of Greece SA
       3.875%, 10/07/2016 EUR 800,000 1,044,856
1,044,856
Ireland - 1.8%
Depfa ACS Bank
       3.875%, 11/14/2016 1,400,000 1,900,788
       5.125%, 03/16/2037 (S) $ 600,000 707,268
German Postal Pensions Securitisation
       2 PLC
       4.250%, 01/18/2017 EUR 2,000,000 2,762,261
German Postal Pensions
       Securitisation PLC
       3.375%, 01/18/2016 6,500,000 8,558,171
13,928,488
Italy - 1.3%
Banca Carige SpA
       3.750%, 11/25/2016 1,400,000 1,873,854
       3.875%, 10/24/2018 2,800,000 3,892,671
Banca Monte dei Paschi di Siena SpA
       3.125%, 06/30/2015 3,000,000 3,863,298
Banco Popolare SC
       3.500%, 03/14/2019 300,000 393,375
10,023,198
Jersey, Channel Islands - 0.4%
HBOS Capital Funding LP (9.540% to
       03/19/2018, then GBP
       LIBOR + 6.750%)
       03/19/2018 (Q) GBP 1,700,000 2,970,743
2,970,743
Netherlands - 0.1%
Achmea Hypotheekbank NV
       3.200%, 11/03/2014 $ 395,000 395,972
395,972
Spain - 0.1%
AyT Cedulas Cajas IX Fondo de
       Titulizacion de Activos
       3.750%, 03/31/2015 EUR 600,000 770,316
770,316
Sweden - 0.3%
Stadshypotek AB
       4.250%, 10/10/2017 AUD 2,400,000 2,142,050
2,142,050
Switzerland - 0.4%
EUROFIMA
       6.250%, 12/28/2018 3,000,000 2,908,876
2,908,876
Tunisia - 0.4%
African Development Bank
       5.250%, 03/23/2022 2,900,000 2,752,062
2,752,062
United Kingdom - 0.9%
Abbey National Treasury Services PLC
       3.625%, 10/14/2016 EUR 2,300,000 3,107,865
European Bank for Reconstruction &
       Development
       0.500%, 12/21/2023 AUD 200,000 120,604
Imperial Tobacco Finance PLC
       7.750%, 06/24/2019 GBP 1,400,000 2,745,352
Tate & Lyle International Finance PLC
       5.000%, 11/15/2014 (S) $ 400,000 402,193
Virgin Media Secured Finance PLC
       5.250%, 01/15/2021 1,000,000 1,005,000
7,381,014
United States - 5.0%
Ally Financial, Inc.
       4.625%, 06/26/2015 2,000,000 2,027,800
       8.300%, 02/12/2015 2,300,000 2,346,000
Altria Group, Inc.
       9.250%, 08/06/2019 443,000 576,817
Bank of America Corp.
       2.600%, 01/15/2019 500,000 499,125
Citigroup, Inc.
       0.747%, 05/31/2017 (P) EUR 1,800,000 2,248,141

The accompanying notes are an integral part of the financial statements. 83


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Global Bond Trust (continued)

Shares or
Principal
Amount       Value
CORPORATE BONDS (continued)
United States (continued)
Citigroup, Inc. (continued)
        5.500%, 10/15/2014 $ 32,000 $ 32,059
CNA Financial Corp.
        5.850%, 12/15/2014 4,000,000 4,045,828
Computer Sciences Corp.  
        6.500%, 03/15/2018 2,050,000 2,193,500
HJ Heinz Company
        4.250%, 10/15/2020 4,000,000 3,975,000
Lehman Brothers Holdings, Inc.
        2.024%, 12/31/2060 (Z) 265,269 116,718
Marsh & McLennan Companies, Inc.
        5.750%, 09/15/2015 436,000 456,645
Spectra Energy Capital LLC
        6.200%, 04/15/2018   5,000,000 5,651,850
Sprint Communications, Inc.
        8.375%, 08/15/2017 5,637,000   6,299,348
Starwood Hotels & Resorts
        Worldwide, Inc.  
        6.750%, 05/15/2018 3,000,000 3,478,329
Tesoro Logistics LP
        6.125%, 10/15/2021 2,200,000 2,271,500
The Cleveland Electric Illuminating
        Company  
        5.700%, 04/01/2017 1,560,000 1,688,759
WM Covered Bond Program
        4.000%, 09/27/2016 EUR 900,000 1,220,712
39,128,131
TOTAL CORPORATE BONDS (Cost $133,281,162) $ 133,262,121
 
MUNICIPAL BONDS - 0.0%
Iowa Tobacco Settlement Authority,
        Series A 6.500%, 06/01/2023 $ 325,000 325,702
TOTAL MUNICIPAL BONDS (Cost $325,000) $ 325,702
 
COLLATERALIZED MORTGAGE
OBLIGATIONS - 12.3%
Australia - 0.5%
Crusade Global Trust, Series 2005-2,
        Class A2
        2.813%, 08/14/2037 (P) AUD 1,590,922 1,391,617
Puma Finance PTY, Ltd.
        Series 2005-P11, Class BA,
                3.040%, 08/22/2037 (P) 1,065,240 934,411
        Series 2006-G5, Class A1,
                0.374%, 02/21/2038 (P) (S) $ 236,376 234,198
The Superannuation Member Home Loan
        Programme, Series 2009-3, Class A1
        4.025%, 11/07/2040 (P) AUD 686,217 601,494
Torrens Trust, Series 2007-1, Class A
        3.040%, 10/19/2038 (P) 749,224 650,244
3,811,964
Italy - 0.6%
Berica ABS SRL, Series 2011-1, Class A1
        0.382%, 12/31/2055 (P) EUR 1,061,997 1,334,689
Berica Residential MBS SRL, Series 8,
        Class A
        0.383%, 03/31/2048 (P) 2,671,470 3,295,272
4,629,961
United Kingdom - 3.1%
Alba PLC, Series 2006-2, Class A3A
        0.733%, 12/15/2038 (P) GBP 273,411 414,032
Business Mortgage Finance 7 PLC,
        Series 7X, Class A1
        2.560%, 02/15/2041 (P) 1,206,135 1,947,350
Darrowby NO 2 PLC, Series 2012-1,
        Class A
        2.263%, 02/20/2044 (P) 2,006,144 3,312,853
Fosse Master Issuer PLC, Series 2012-1A,
        Class 2B2
        2.658%, 10/18/2054 (P) (S) 3,100,000 5,090,054
Great Hall Mortgages PLC, Series 2007-1,
        Class A2A
        0.697%, 03/18/2039 (P) 1,480,915 2,302,802
Mansard Mortgages PLC, Series 2007-2X,
        Class A1
        1.213%, 12/15/2049 (P) 6,683,871 10,718,177
23,785,268
United States - 8.1%
Adjustable Rate Mortgage Trust,
        Series 2005-5, Class 2A1
        2.735%, 09/25/2035 (P) $ 142,482 128,392
Alternative Loan Trust
        Series 2006-OA9, Class 2A1B,
                0.354%, 07/20/2046 (P) 496,650 342,545
        Series 2007-OA3, Class 1A1,
                0.295%, 04/25/2047 (P) 4,205,374 3,531,496
American Home Mortgage
        Investment Trust, Series 2004-3,
        Class 5A
        2.069%, 10/25/2034 (P) 51,455 51,631
Banc of America Funding Corp.
        Series 2005-E , Class 1A1,
                0.444%, 05/20/2035 (P) 398,666 273,703
        Series 2006-J, Class 4A1,
                2.826%, 01/20/2047 (P) 157,940 121,939
Banc of America Mortgage
        Securities, Inc., Series 2005-B,
        Class 2A2
        2.624%, 03/25/2035 (P) 904,263 835,550
Bear Stearns Adjustable
        Rate Mortgage Trust
        Series 2003-6, Class 1A1,
                2.500%, 08/25/2033 (P) 78,170 78,980
        Series 2003-7, Class 6A,
                2.498%, 10/25/2033 (P) 100,465 101,726
        Series 2003-9, Class 2A1,
                2.790%, 02/25/2034 (P) 18,484 18,235
        Series 2004-2, Class 22A,
                2.649%, 05/25/2034 (P) 238,431 230,070
        Series 2004-2, Class 23A,
                2.483%, 05/25/2034 (P) 90,058 84,309
        Series 2004-9, Class 22A1,
                3.034%, 11/25/2034 (P) 87,482 88,260
        Series 2005-12, Class 23A1,
                2.482%, 02/25/2036 (P) 900,541 731,105
        Series 2005-2, Class A1,
                2.580%, 03/25/2035 (P) 1,244,805 1,257,308
        Series 2005-2, Class A2,
                2.528%, 03/25/2035 (P) 367,189 371,290
Bear Stearns Alt-A Trust
        Series 2005-7, Class 22A1,
                2.617%, 09/25/2035 (P) 1,195,070 1,038,053

The accompanying notes are an integral part of the financial statements. 84


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Global Bond Trust (continued)

Shares or
Principal
Amount       Value
COLLATERALIZED MORTGAGE
OBLIGATIONS (continued)  
United States (continued)
Bear Stearns Alt-A Trust (continued)
       Series 2005-9, Class 24A1,
              2.613%, 11/25/2035 (P) $ 891,957 $ 693,874
Bear Stearns Structured
       Products, Inc. Trust, Series 2007-R6,
       Class 1A1  
       2.509%, 01/26/2036 (P) 2,045,404 1,613,001
CHL Mortgage Pass Through Trust
       Series 2004-HYB5, Class 2A1,
              2.341%, 04/20/2035 (P) 74,066 75,058
       Series 2005-2, Class 2A1,
              0.475%, 03/25/2035 (P) 100,868 96,271
Citigroup Mortgage Loan Trust, Inc.
       Series 2005-6, Class A1,
              2.200%, 09/25/2035 (P) 400,589 402,960
       Series 2005-6, Class A2,
              2.280%, 09/25/2035 (P) 448,949 451,036
Countrywide Alternative Loan Trust
       Series 2005-21CB, Class A3,
              5.250%, 06/25/2035 174,107 159,853
       Series 2005-56, Class 2A2,
              2.155%, 11/25/2035 (P) 115,416 94,280
       Series 2005-56, Class 2A3,
              1.615%, 11/25/2035 (P) 138,405 109,214
       Series 2007-11T1, Class A12,
              0.505%, 05/25/2037 (P) 398,007 263,483
       Series 2007-16CB, Class 5A1,
              6.250%, 08/25/2037 188,305 156,799
Countrywide Home Loan Mortgage
       Pass Through Trust
       Series 2004-12, Class 11A1,
              2.624%, 08/25/2034 (P) 73,697 65,481
       Series 2004-22, Class A3,
              2.493%, 11/25/2034 (P) 231,606 218,118
       Series 2004-25, Class 1A1,
              0.485%, 02/25/2035 (P) 44,863 42,148
       Series 2004-25, Class 2A1,
              0.495%, 02/25/2035 (P) 68,726 62,533
Credit Suisse First Boston
       Mortgage Securities Corp.
       Series 2003-AR18, Class 2A3,
              2.249%, 07/25/2033 (P) 18,126 18,164
       Series 2003-AR20, Class 2A1,
              2.472%, 08/25/2033 (P) 230,827 229,840
       Series 2003-8, Class 5A1,
              6.500%, 04/25/2033 19,904 20,194
DBRR Trust, Series 2013-EZ2, Class A
       0.853%, 02/25/2045 (P) (S) 1,707,315 1,704,174
DSLA Mortgage Loan Trust,
       Series 2006-AR2, Class 2AB3
       0.463%, 10/19/2036 (P) 1,499,048 583,314
Federal Home Loan Mortgage Corp.,
       Series T-62, Class 1A1
       1.318%, 10/25/2044 (P) 1,401,974 1,451,881
Federal National Mortgage Association
       Series 2002-W8, Class F,
              0.555%, 09/25/2032 (P) 9,500 9,507
       Series 2004-W2, Class 5AF,
              0.505%, 03/25/2044 (P) 56,643 56,557
       Series 2010-136, Class FA,
              0.655%, 12/25/2040 (P) 1,968,992 1,994,185
       Series 2011-53, Class FT,
              0.735%, 06/25/2041 (P) 3,488,545 3,527,052
First Horizon Mortgage Pass
       Through Trust, Series 2005-AR3,
       Class 2A1
       2.612%, 08/25/2035 (P) 134,322 126,597
First Republic Mortgage Loan Trust,
       Series 2001-FRB1, Class A
       0.504%, 11/15/2031 (P) 64,310 60,338
GMACM Mortgage Corp. Loan Trust,
       Series 2004-AR1, Class 22A
       2.879%, 06/25/2034 (P) 21,853 21,095
Government National Mortgage
       Association, Series 2004-68, Class ZC
       6.000%, 08/20/2034 2,729,095 3,065,126
GreenPoint Mortgage Funding Trust,
       Series 2006-OH1, Class A1
       0.335%, 01/25/2037 (P) 288,402 215,722
GreenPoint Mortgage Pass-Through
       Certificates, Series 2003-1, Class A1
       2.795%, 10/25/2033 (P) 19,502 19,168
GS Mortgage Securities Corp. II,
       Series 2012-GCJ9, Class XA IO
       2.530%, 11/10/2045 4,393,049 537,055
GSR Mortgage Loan Trust, Series 2003-1,
       Class A2
       1.864%, 03/25/2033 (P) 77,394 76,463
HarborView Mortgage Loan Trust
       Series 2003-1, Class A,
              2.482%, 05/19/2033 (P) 183,509 184,868
       Series 2005-4, Class 3A1,
              2.587%, 07/19/2035 (P) 55,579 51,735
IndyMac Index Mortgage Loan Trust,
       Series 2004-AR11, Class 2A
       2.544%, 12/25/2034 (P) 87,863 81,703
JPMorgan Alternative Loan Trust,
       Series 2006-A6, Class 2A1
       5.500%, 11/25/2036 (P) 3,310 3,310
JPMorgan Mortgage Trust
       Series 2003-A2, Class 3A1,
              1.990%, 11/25/2033 (P) 104,516 104,649
       Series 2006-S2, Class 1A3,
              5.500%, 07/25/2036 528,382 504,805
       Series 2007-A1, Class 5A6,
              2.607%, 07/25/2035 (P) 425,251 390,033
       Series 2007-A1, Class 5A5,
              2.607%, 07/25/2035 (P) 467,776 479,986
MASTR Adjustable Rate Mortgages Trust,
       Series 2007-HF1, Class A1
       0.395%, 05/25/2037 (P) 352,381 239,571
Merrill Lynch Mortgage Investors Trust
       Series 2003-A2, Class 1A1,
              2.220%, 02/25/2033 (P) 146,928 141,328
       Series 2005-2, Class 1A,
              1.572%, 10/25/2035 (P) 634,813 626,087
       Series 2005-3, Class 4A,
              0.405%, 11/25/2035 (P) 727,811 691,441
       Series 2005-A10, Class A,
              0.365%, 02/25/2036 (P) 3,976,968 3,658,517

The accompanying notes are an integral part of the financial statements. 85


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Global Bond Trust (continued)

Shares or
Principal
Amount       Value
COLLATERALIZED MORTGAGE
OBLIGATIONS (continued)    
United States (continued)  
Merrill Lynch Mortgage
Investors Trust (continued)
       Series 2005-A8, Class A3A2,
              0.405%, 08/25/2036 (P) $ 93,479 $ 89,860
Merrill Lynch/Countrywide
       Commercial Mortgage Trust
       Series 2007-8, Class A3,
              6.079%, 08/12/2049 (P) 3,200,000 3,505,152
       Series 2006-3, Class A4,
              5.414%, 07/12/2046 (P) 2,245,854 2,384,959
MRFC Mortgage Pass Through Trust,
       Series 2000-TBC3, Class A1
       0.594%, 12/15/2030 (P) 37,183 35,482
NCUA Guaranteed Notes Trust
       Series 2010-R1, Class 1A,
              0.606%, 10/07/2020 (P) 2,562,619 2,575,827
       Series 2010-R2, Class 1A,
              0.526%, 11/06/2017 (P) 6,225,743 6,238,798
Residential Accredit Loans, Inc.
       Series 2006-QA2, Class 2A1,
              3.564%, 02/25/2036 (P) 671,364 487,474
       Series 2006-QO6, Class A1,
              0.335%, 06/25/2046 (P) 1,958,559 887,523
       Series 2007-QH4, Class A2,
              0.385%, 05/25/2037 (P) 347,656 85,835
       Series 2007-QO2, Class A1,
              0.305%, 02/25/2047 (P) 568,639 330,912
Residential Asset Securitization Trust,
       Series 2006-R1, Class A2
       0.555%, 01/25/2046 (P) 563,220 303,966
Residential Funding Mortgage
       Securities I, Series 2005-SA4,
       Class 1A21
       2.956%, 09/25/2035 (P) 166,731 139,922
Sequoia Mortgage Trust  
       Series 5, Class A,
              0.853%, 10/19/2026 (P) 26,651 26,439
       Series 2003-4, Class 2A1,
              0.504%, 07/20/2033 (P) 136,900 130,294
Sovereign Commercial Mortgage
       Securities Trust, Series 2007-C1,
       Class D
       6.022%, 07/22/2030 (P) (S) 1,100,000 1,098,174
Structured Adjustable Rate
       Mortgage Loan Trust
       Series 2004-1, Class 4A1,
              2.473%, 02/25/2034 (P) 145,616 147,533
       Series 2004-12, Class 7A1,
              2.464%, 09/25/2034 (P) 316,208 316,486
       Series 2004-4, Class 3A2,
              2.463%, 04/25/2034 (P) 330,878 330,127
       Series 2005-18, Class 6A1,
              2.486%, 09/25/2035 (P) 358,406 321,700
Structured Asset
       Mortgage Investments, Inc.
       Series 2006-AR5, Class 1A1,
              0.365%, 05/25/2046 (P) 603,518 458,111
       Series 2004-AR3, Class 1A2,
              0.443%, 07/19/2034 (P) 86,064 85,861
Thornburg Mortgage Securities Trust
       Series 2003-5, Class 1A,
              2.082%, 10/25/2043 (P) 713,429 700,586
       Series 2007-2, Class A1,
              1.405%, 06/25/2037 (P) 868,266 760,130
       Series 2007-2, Class A2A,
              1.831%, 06/25/2037 (P) 763,320 735,204
       Series 2007-2, Class A3A,
              5.750%, 06/25/2037 (P) 1,449,388 1,467,940
       Series 2007-3, Class 2A1,
              1.405%, 06/25/2047 (P) 247,127 222,084
       Series 2007-3, Class 3A1,
              5.750%, 06/25/2047 (P) 466,075 413,374
       Series 2007-3, Class 4A1,
              5.750%, 06/25/2047 (P) 511,792 499,775
Wachovia Bank Commercial
       Mortgage Trust, Series 2006-C28,
       Class A4
       5.572%, 10/15/2048 179,503 191,881
WaMu Mortgage Pass-
       Through Certificates
       Series 2002-AR17, Class 1A,
              1.315%, 11/25/2042 (P) 296,523 290,471
       Series 2002-AR2, Class A,
              1.926%, 02/27/2034 (P) 55,633 55,100
       Series 2003-AR5, Class A7,
              2.444%, 06/25/2033 (P) 88,211 89,531
       Series 2005-AR2, Class 2A1A,
              0.465%, 01/25/2045 (P) 53,282 50,879
Washington Mutual Alternative Mortgage
       Pass-Through Certificates,
       Series 2006-AR5, Class 3A
       1.055%, 07/25/2046 (P) 357,804 215,464
Wells Fargo Mortgage Backed
       Securities Trust, Series 2005-AR11,
       Class 1A1
       2.615%, 06/25/2035 (P) 1,501,673 1,506,663
WFRBS Commercial Mortgage Trust,
       Series 2013-C11, Class XA IO
       1.639%, 03/15/2045 (S) 12,628,408 957,637
  62,800,320
TOTAL COLLATERALIZED MORTGAGE
OBLIGATIONS (Cost $94,776,387) $ 95,027,513
 
ASSET BACKED SECURITIES - 1.1%
Cayman Islands - 0.3%
CIFC Funding, Ltd., Series 2007-1A,
       Class A1l
       0.493%, 05/10/2021 (P) (S) 1,394,589 1,374,910
Franklin CLO, Ltd., Series 5A, Class A2
       0.494%, 06/15/2018 (P) (S) 339,331 337,891
Fraser Sullivan CLO, Ltd.,
       Series 2006-1A, Class A2
       0.494%, 03/15/2020 (P) (S) 599,799 598,792
2,311,593
Ireland - 0.3%
Magi Funding PLC, Series 2010-1A,
       Class A
       0.677%, 04/11/2021 (P) (S) EUR 550,902 693,643
Mercator CLO II PLC, Series X, Class A1
       0.433%, 02/18/2024 (P) 644,942 808,484

The accompanying notes are an integral part of the financial statements. 86


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Global Bond Trust (continued)

Shares or
Principal      
Amount Value
ASSET BACKED SECURITIES (continued)  
Ireland (continued)
Race Point III CLO, Ltd., Series 2006-3,  
       Class A
       0.494%, 04/15/2020 (P) (S) $ 975,529 $ 971,345
2,473,472
Luxembourg - 0.1%
Penta CLO SA, Series 2007-1X, Class A1
       0.614%, 06/04/2024 (P) EUR 968,307 1,205,043
1,205,043
Netherlands - 0.2%
Globaldrive Auto Receivables BV,
       Series 2011-AA, Class A
       0.757%, 04/20/2019 (P) (S) 349,593 442,295
Halcyon Structured Asset Management
       European CLO, Series 2006-II,
       Class BV
       0.548%, 01/25/2023 (P) 810,939 1,017,343
1,459,638
United States - 0.2%
Access Group, Inc., Series 2008-1,
       Class A
       1.534%, 10/27/2025 (P) $ 1,152,415 1,159,473
Amortizing Residential Collateral Trust,
       Series 2002-BC4, Class A
       0.735%, 07/25/2032 (P) 6,344 5,829
Amresco Residential Securities,
       Series 1999-1, Class A
       1.095%, 06/25/2029 (P) 27,650 25,469
First Alliance Mortgage Loan,
       Series 1997-4, Class A3
       0.156%, 12/20/2027 (P) 15,819 15,039
Home Equity Asset Trust, Series 2002-1,
       Class A4
       0.755%, 11/25/2032 (P) 1,283 1,131
Residential Asset Mortgage
       Products, Inc. Trust, Series 2002-RS3
       0.715%, 06/25/2032 (P) 11,508 10,832
Residential Asset Securities Corp. Trust,
       Series 2002-KS4, Class AIIB
       0.655%, 07/25/2032 (P) 27,958 23,895
Securitized Asset Backed
       Receivables LLC Trust,
       Series 2007-NC1, Class A2A
       0.205%, 12/25/2036 (P) 58,814 33,119
Small Business Administration
       Participation Certificates,
       Series 2000-20K, Class 1
       7.220%, 11/01/2020 27,038 28,557
1,303,344
TOTAL ASSET BACKED SECURITIES (Cost $8,950,406) $ 8,753,090
 
TERM LOANS (M) - 0.1%
United Kingdom - 0.1%
Virgin Media Investment Holdings, Ltd.
       3.500%, 06/07/2020 600,000 583,500
583,500
TOTAL TERM LOANS (Cost $598,741) $ 583,500
 
COMMON STOCKS - 0.0%
Financials - 0.0%
Rescap Liquidating Trust (I) 5,054 80,864
80,864
TOTAL COMMON STOCKS (Cost $26,028) $ 80,864
 
PREFERRED SECURITIES - 0.0%
United States - 0.0%
Navient LLC, 4.122% 9,800 $ 239,806
239,806
TOTAL PREFERRED SECURITIES (Cost $110,250) $ 239,806
 
ESCROW SHARES - 0.3%
United States - 0.3%
Lehman Brothers Holdings, Inc.
       5.460%, 12/30/2016 (I) 4,100,000 820,000
       5.625%, 05/02/2018 (I) 2,100,000 433,125
       6.875%, 01/24/2049 (I) 4,500,000 916,875
2,170,000
TOTAL ESCROW SHARES (Cost $302,906) $ 2,170,000
 
PURCHASED OPTIONS - 0.1%
Put options - 0.1%
Over the Counter on 30 Year Interest Rate
       Swap. Receive a fixed rate of 3.450%
       and pay a floating rate based on 3-
       month LIBOR (Expiration Date:
       09/21/2015; Strike Rate: 3.450%;
       Counterparty: Bank of America NA) (I) 7,000,000 327,003
Over the Counter on 30 Year Interest Rate
       Swap. Receive a fixed rate of 3.450%
       and pay a floating rate based on 3-
       month LIBOR (Expiration Date:
       09/21/2015; Strike Rate: 3.450%;
       Counterparty: Citibank NA) (I) 3,600,000 168,173
495,176
Call options - 0.0%
Over the Counter on the USD vs JPY
       (Expiration Date: 12/12/2014; Strike
       Price: $128.85; Counterparty: Citigroup
       Global Markets) (I) 18,800,000 19
  19
TOTAL PURCHASED OPTIONS (Cost $864,380) $ 495,195
 
CERTIFICATE OF DEPOSIT - 1.4%
Credit Suisse 1.000%, 08/24/2015 * $ 6,600,000 $ 6,597,017
Intesa Sanpaolo SpA
       1.614%, 04/11/2016 (P) 4,700,000 4,741,111
TOTAL CERTIFICATE OF DEPOSIT (Cost $11,300,000) $ 11,338,128
 
COMMERCIAL PAPER - 0.2%
United States - 0.2%
Greensill Capital SCF 1 SA
       5.592%, 03/04/2015* 1,400,000 1,366,511
  1,366,511
TOTAL COMMERCIAL PAPER (Cost $1,366,511) $ 1,366,511

The accompanying notes are an integral part of the financial statements. 87


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Global Bond Trust (continued)

Shares or
Principal
Amount        Value
SHORT-TERM INVESTMENTS - 1.4%
U.S. government - 0.1%
U.S. Treasury Bills  
       0.020%, 01/08/2015 (D) * $ 47,000 $ 46,998
       0.048%, 02/26/2015 (D) * 759,000 758,938
805,936
Foreign government - 0.8%  
Government of Mexico
       1.285%, 12/11/2014* MXN 790,000,000 5,847,959
5,847,959
Repurchase agreement - 0.5%
Repurchase Agreement with Morgan
       Stanley dated 09/30/2014 at 0.000% to
       be repurchased at $2,300,000 on
       10/01/2014, collateralized by
       $2,469,500 U.S. Treasury Bonds,
       2.875% due 05/15/2043 (valued at
       $2,360,688, including interest) $ 2,300,000 2,300,000
Repurchase Agreement with State
       Street Corp. dated 09/30/2014 at
       0.000% to be repurchased at $1,826,000
       on 10/01/2014, collateralized by
       $1,890,000 U.S. Treasury Notes,
       1.250% due 01/31/2019 (valued at
       $1,864,013, including interest) 1,826,000 1,826,000
  4,126,000
TOTAL SHORT-TERM INVESTMENTS (Cost $10,973,821) $ 10,779,895
Total Investments (Global Bond Trust)
       (Cost $889,307,735) - 113.4% $ 879,036,035
Other assets and liabilities, net - (13.4%) (104,169,294 )
TOTAL NET ASSETS - 100.0% $ 774,866,741
 
SALE COMMITMENTS OUTSTANDING - (14.1)%
U.S. government agency - (14.1)%
Federal National Mortgage Association
       4.000%, TBA (C) (23,000,000 ) (24,168,713 )
       4.000%, TBA (C) (10,000,000 ) (10,539,386 )
       4.500%, TBA (C) (24,000,000 ) (25,896,607 )
       4.500%, TBA (C) (45,000,000 ) (48,433,091 )
TOTAL SALE COMMITMENTS
OUTSTANDING (Cost $(108,876,720)) $ (109,037,797 )
 
Health Sciences Trust
 
Shares or
Principal
Amount Value
COMMON STOCKS - 96.5%
Consumer staples - 1.7%
Food and staples retailing - 1.7%
CP ALL PCL 283,700 $ 391,536
CVS Health Corp. 14,000 1,114,260
Raia Drogasil SA 38,376 328,299
Rite Aid Corp. (I) 681,700 3,299,428
5,133,523
Health care - 91.5%
Biotechnology - 34.3%
Abcam PLC 92,071 599,847
ACADIA Pharmaceuticals, Inc. (I) 69,900 1,730,724
Acceleron Pharma, Inc. (I) 29,300 886,032
Acorda Therapeutics, Inc. (I) 4,961 168,079
Alexion Pharmaceuticals, Inc. (I) 84,940 14,084,751
Alkermes PLC (I) 95,800 4,106,946
Alnylam Pharmaceuticals, Inc. (I) 8,400 656,040
Array BioPharma, Inc. (I) 202,300 722,211
Avalanche Biotechnologies, Inc. (I) 4,400 150,436
Avalanche Biotechnologies, Inc. (I) 15,532 503,468
Biogen Idec, Inc. (I) 30,119 9,963,666
BioMarin Pharmaceutical, Inc. (I) 29,000 2,092,640
Bluebird Bio, Inc. (I) 13,100 470,028
Celgene Corp. (I) 34,932 3,310,855
Celladon Corp. (I) 23,600 246,856
Chimerix, Inc. (I) 21,900 604,878
Clovis Oncology, Inc. (I) 14,700 666,792
Dyax Corp. (I) 44,200 447,304
Epizyme, Inc. (I) 9,300 252,123
Exelixis, Inc. (I) 183,400 280,602
Five Prime Therapeutics, Inc. (I) 6,500 76,245
Gilead Sciences, Inc. (I) 159,892 17,020,503
Immune Design Corp. (I) 8,600 151,876
Incyte Corp. (I) 109,200 5,356,260
Infinity Pharmaceuticals, Inc. (I) 9,400 126,148
Insmed, Inc. (I) 9,400 122,670
Intercept Pharmaceuticals, Inc. (I) 2,400 568,056
Intrexon Corp. (I) 5,100 94,758
Ironwood Pharmaceuticals, Inc. (I) 12,400 160,642
Isis Pharmaceuticals, Inc. (I) 26,800 1,040,644
Neurocrine Biosciences, Inc. (I) 119,000 1,864,730
Novavax, Inc. (I) 158,600 661,362
Ophthotech Corp. (I) 13,300 517,769
Orexigen Therapeutics, Inc. (I) 178,400 759,984
Otonomy, Inc. (I) 6,300 151,200
Pharmacyclics, Inc. (I) 66,400 7,797,352
Portola Pharmaceuticals, Inc. (I) 6,900 174,432
Prothena Corp. PLC (I) 36,348 805,472
Puma Biotechnology, Inc. (I) 34,787 8,299,135
Regeneron Pharmaceuticals, Inc. (I) 14,100 5,083,332
Sophiris Bio, Inc. (I) 42,080 123,293
Stemline Therapeutics, Inc. (I) 1,100 13,706
Sunesis Pharmaceuticals, Inc. (I) 80,400 574,056
TESARO, Inc. (I) 32,285 869,112
Ultragenyx Pharmaceutical, Inc. (I) 12,712 719,499
United Therapeutics Corp. (I) 14,100 1,813,965
Vanda Pharmaceuticals, Inc. (I) 63,200 656,016
Versartis, Inc. (I) 6,000 113,940
Vertex Pharmaceuticals, Inc. (I) 61,204 6,873,821
104,534,256
Health care equipment and supplies - 10.7%
Align Technology, Inc. (I) 13,300 687,344
Becton, Dickinson and Company 31,100 3,539,491
CareFusion Corp. (I) 53,900 2,438,975
Covidien PLC 46,025 3,981,623
DENTSPLY International, Inc. 43,850 1,999,560
DexCom, Inc. (I) 14,600 583,854
EnteroMedics, Inc. (I) 50,650 62,300
GenMark Diagnostics, Inc. (I) 30,100 269,997
GN Store Nord A/S 66,858 1,471,734
HeartWare International, Inc. (I) 7,100 551,173
IDEXX Laboratories, Inc. (I) 13,500 1,590,705
Intuitive Surgical, Inc. (I) 10,900 5,033,838
Oxford Immunotec Global PLC (I) 9,200 140,484

The accompanying notes are an integral part of the financial statements. 88


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Health Sciences Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Health care equipment and supplies (continued)
Sirona Dental Systems, Inc. (I) 46,700 $ 3,580,956
St. Jude Medical, Inc. 13,000 781,690
The Cooper Companies, Inc. 22,235 3,463,101
Thoratec Corp. (I) 50,300 1,344,519
Tornier NV (I) 43,300 1,034,870
Volcano Corp. (I) 3,100 32,984
32,589,198
Health care providers and services - 20.7%
Acadia Healthcare Company, Inc. (I) 12,300 596,550
Adeptus Health, Inc., Class A (I) 5,800 144,420
Aetna, Inc. 118,200 9,574,200
Air Methods Corp. (I) 27,464 1,525,625
Arseus NV 11,099 536,990
Cardinal Health, Inc. 52,100 3,903,332
Centene Corp. (I) 5,000 413,550
Community Health Systems, Inc. (I) 15,300 838,287
DaVita HealthCare Partners, Inc. (I) 28,600 2,091,804
Envision Healthcare Holdings, Inc. (I) 8,800 305,184
HCA Holdings, Inc. (I) 68,700 4,844,724
Henry Schein, Inc. (I) 18,500 2,154,695
Humana, Inc. 54,800 7,139,892
LifePoint Hospitals, Inc. (I) 1,000 69,190
McKesson Corp. 52,000 10,122,840
Mediclinic International, Ltd. 55,624 453,046
MEDNAX, Inc. (I) 22,500 1,233,450
MWI Veterinary Supply, Inc. (I) 3,500 519,400
Odontoprev SA 81,900 297,788
Team Health Holdings, Inc. (I) 19,400 1,125,006
UnitedHealth Group, Inc. 99,600 8,590,500
Universal Health Services, Inc., Class B 36,050 3,767,225
WellPoint, Inc. 24,300 2,906,766
63,154,464
Health care technology - 1.0%
athenahealth, Inc. (I) 14,500 1,909,505
Castlight Health, Inc., B Shares (I) 31,863 412,307
HMS Holdings Corp. (I) 16,000 301,600
Veeva Systems, Inc., Class A (I) 17,400 490,158
3,113,570
Life sciences tools and services - 4.1%
Agilent Technologies, Inc. 131,400 7,487,172
Bruker Corp. (I) 43,900 812,809
Covance, Inc. (I) 18,600 1,463,820
Illumina, Inc. (I) 3,650 598,308
Mettler-Toledo International, Inc. (I) 3,500 896,455
Thermo Fisher Scientific, Inc. 9,900 1,204,830
12,463,394
Pharmaceuticals - 20.7%
AbbVie, Inc. 88,600 5,117,536
Achaogen, Inc. (I) 9,600 86,016
Actavis PLC (I) 39,870 9,619,834
Allergan, Inc. 48,900 8,713,491
Aspen Pharmacare Holdings, Ltd. 47,021 1,400,030
Astellas Pharma, Inc. 59,100 880,210
AVANIR Pharmaceuticals, Inc., Class A (I) 291,209 3,471,211
Bristol-Myers Squibb Company 28,700 1,468,866
Catalent, Inc. (I) 21,100 528,133
China Medical System Holdings, Ltd. 602,200 1,031,055
Eli Lilly & Company 69,700 4,520,045
Flamel Technologies SA (I) 10,900 155,979
Horizon Pharma, Inc. (I) 19,800 243,144
Jazz Pharmaceuticals PLC (I) 6,700 1,075,752
Mallinckrodt PLC (I) 9,996 901,139
MediWound, Ltd. (I) 5,300 33,178
Merck & Company, Inc. 28,100 1,665,768
Natco Pharma, Ltd. 6,048 143,491
Novartis AG 7,304 687,806
Novartis AG, ADR 8,100 762,453
Pacira Pharmaceuticals, Inc. (I) 41,500 4,022,180
Supernus Pharmaceuticals, Inc. (I) 31,600 274,604
Takeda Pharmaceutical Company, Ltd. 28,100 1,221,574
Teva Pharmaceutical Industries, Ltd., ADR 65,700 3,531,375
The Medicines Company (I) 40,255 898,492
Theravance Biopharma, Inc. (I) 5,400 124,470
Valeant Pharmaceuticals International, Inc. (I) 69,980 9,181,376
Zeneca, Inc. (I) 13,151 23,672
Zoetis, Inc. 24,400 901,580
ZS Pharma, Inc. (I) 4,600 180,458
62,864,918
278,719,800
Industrials - 2.7%
Industrial conglomerates - 2.3%
Danaher Corp. 95,100 7,225,698
Professional services - 0.4%
The Advisory Board Company (I) 24,400 1,136,796
  8,362,494
Information technology - 0.6%
Electronic equipment, instruments and components - 0.6%
FEI Company 23,000 1,734,660
TOTAL COMMON STOCKS (Cost $198,722,275) $ 293,950,477
 
PREFERRED SECURITIES - 0.2%
Health care - 0.1%
Bellicum Pharmaceuticals, Inc. (I)(R) 19,733 107,545
Calithera Biosciences, Inc. (I) 407,677 109,988
Diplomat Pharmacy, Inc., Series A (I) 3 344,250
Spark Therapeutics, Inc. (I)(R) 44,789 72,110
633,893
Information technology - 0.1%
Doximity, Inc. (I)(R) 31,611 152,390
TOTAL PREFERRED SECURITIES (Cost $830,430) $ 786,283
 
CONVERTIBLE BONDS - 0.0%
Health care - 0.0%
HeartWare International, Inc.
       3.500%, 12/15/2017 $ 51,000 $ 55,367
TOTAL CONVERTIBLE BONDS (Cost $50,132) $ 55,367
 
RIGHTS - 0.0%
Wright Medical Group, Inc. (Expiration
       Date: 01/02/2024) (I)(N) 4,100 9,020
TOTAL RIGHTS (Cost $10,250) $ 9,020
 
WARRANTS - 0.0%
Alexza Pharmaceuticals, Inc. (Expiration Date:
       10/05/2016; Strike Price $2.77) (I) 1,413 0
EnteroMedics, Inc. (Expiration Date:
       06/13/2016; Strike Price $2.19) (I) 30,600 3,385

The accompanying notes are an integral part of the financial statements. 89


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Health Sciences Trust (continued)

Shares or      
Principal
Amount Value
WARRANTS (continued)
EnteroMedics, Inc. (Expiration Date:
       09/28/2016; Strike Price $1.90) (I) 4,120 $ 729
TOTAL WARRANTS (Cost $1,766) $ 4,114
 
SHORT-TERM INVESTMENTS - 0.6%
Money market funds - 0.6%
State Street Institutional U.S. Government
       Money Market Fund, 0.0000% (Y) $ 366,739 $ 366,739
T. Rowe Price Reserve Investment
       Fund, 0.0487% (Y) 1,381,529 1,381,529
TOTAL SHORT-TERM INVESTMENTS (Cost $1,748,268) $ 1,748,268
Total Investments (Health Sciences Trust)
       (Cost $201,363,121) - 97.3% $ 296,553,529
Other assets and liabilities, net - 2.7% 8,088,837
TOTAL NET ASSETS - 100.0% $ 304,642,366
 
High Yield Trust
 
Shares or  
Principal
Amount Value
FOREIGN GOVERNMENT
OBLIGATIONS - 0.7%
Brazil - 0.2%
Federative Republic of Brazil
       10.000%, 01/01/2017 BRL 1,759,000 $ 705,232
Mexico - 0.2%
Government of Mexico  
       6.500%, 06/09/2022 MXN 5,956,000 459,107
Venezuela - 0.3%
Republic of Venezuela
       5.750%, 02/26/2016 $ 921,000 785,153
       12.273%, 04/15/2020 (Z) 346,000 76,120
861,273
TOTAL FOREIGN GOVERNMENT
OBLIGATIONS (Cost $2,321,138) $ 2,025,612
 
CORPORATE BONDS - 86.0%
Consumer discretionary - 15.3%
24 Hour Holdings III LLC
       8.000%, 06/01/2022 (L)(S) 460,000 425,500
Altice SA
       7.750%, 05/15/2022 (S) 530,000 547,225
American Greetings Corp.
       7.375%, 12/01/2021 60,000 62,550
Bossier Casino Venture Holdco, Inc.
       11.000%, 02/09/2018 167,631 159,944
Bossier Casino Venture Holdco, Inc., PIK
       14.000%, 02/09/2018 (S) 817,235 771,511
Caesars Entertainment Resort
       Properties LLC
       11.000%, 10/01/2021 (L)(S) 1,490,000 1,396,866
Carmike Cinemas, Inc.
       7.375%, 05/15/2019 250,000 265,000
Carrols Restaurant Group, Inc.
       11.250%, 05/15/2018 780,000 848,250
CEC Entertainment, Inc.
       8.000%, 02/15/2022 (S) 440,000 411,400
Chrysler Group LLC
       8.250%, 06/15/2021 580,000 632,200
Clear Channel Worldwide Holdings, Inc.
       6.500%, 11/15/2022 230,000 232,875
       7.625%, 03/15/2020 190,000 195,700
CST Brands, Inc.
       5.000%, 05/01/2023 512,000 499,200
CTP Transportation Products LLC
       8.250%, 12/15/2019 (S) 540,000 576,450
CVR Refining LLC
       6.500%, 11/01/2022 420,000 428,400
DISH DBS Corp.
       5.875%, 07/15/2022 1,550,000 1,581,000
Downstream Development Authority of
       the Quapaw Tribe of Oklahoma
       10.500%, 07/01/2019 (S) 640,000 675,200
Dufry Finance SCA
       5.500%, 10/15/2020 (S) 600,000 627,000
Edcon Pty, Ltd.
       9.500%, 03/01/2018 (S) 610,000 500,200
Empire Today LLC
       11.375%, 02/01/2017 (S) 370,000 370,000
Fontainebleau Las Vegas Holdings LLC
       10.250%, 06/15/2015 (H)(S) 3,620,000 38,010
Gamestop Corp.
       5.500%, 10/01/2019 (S) 630,000 622,125
General Motors Financial Company, Inc.
       4.375%, 09/25/2021 730,000 746,425
Gibson Brands, Inc.
       8.875%, 08/01/2018 (S) 850,000 830,875
Greektown Holdings LLC
       8.875%, 03/15/2019 (S) 510,000 507,450
Guitar Center, Inc.
       9.625%, 04/15/2020 (L)(S) 2,060,000 1,581,050
iHeartCommunications, Inc.
       10.000%, 01/15/2018 690,000 578,241
Interactive Data Corp.
       5.875%, 04/15/2019 (S) 510,000 503,625
Landry’s Holdings II, Inc.
       10.250%, 01/01/2018 (S) 910,000 937,300
Landry’s, Inc.
       9.375%, 05/01/2020 (S) 1,216,000 1,285,920
LKQ Corp.
       4.750%, 05/15/2023 700,000 677,250
MCE Finance, Ltd.
       5.000%, 02/15/2021 (S) 1,760,000 1,689,600
MDC Partners, Inc.
       6.750%, 04/01/2020 (S) 900,000 927,000
Medianews Group, Inc.
       12.000%, 12/31/2018 600,000 580,053
MGM Resorts International
       6.625%, 12/15/2021 450,000 474,750
Modular Space Corp.
       10.250%, 01/31/2019 (S) 950,000 959,500
Monitronics International, Inc.
       9.125%, 04/01/2020 1,090,000 1,117,250
Murphy Oil USA, Inc.
       6.000%, 08/15/2023 660,000 688,050
NCL Corp., Ltd.
       5.000%, 02/15/2018 510,000 515,100
Neiman Marcus Group, Ltd., LLC, PIK
       8.750%, 10/15/2021 (S) 370,000 389,425

The accompanying notes are an integral part of the financial statements. 90


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

High Yield Trust (continued)

Shares or
Principal      
Amount Value
CORPORATE BONDS (continued)
Consumer discretionary (continued)
New Cotai LLC, PIK
       10.625%, 05/01/2019 (S) $ 1,662,801 $ 1,903,907
New Red Finance, Inc.
       6.000%, 04/01/2022 (S) 940,000 934,125
Numericable Group SA
       6.000%, 05/15/2022 (S) 1,400,000 1,410,500
       6.250%, 05/15/2024 (S) 240,000 239,400
Regal Entertainment Group
       5.750%, 03/15/2022 550,000 551,375
Schaeffler Holding Finance BV, PIK
       6.875%, 08/15/2018 (S) EUR 1,200,000 1,588,412
Service Corp. International
       7.500%, 04/01/2027 $ 480,000 531,600
Seven Seas Cruises S. de R.L. LLC
       9.125%, 05/15/2019 990,000 1,060,538
Spencer Spirit Holdings, Inc., PIK
       9.000%, 05/01/2018 (S) 1,309,000 1,322,090
Standard Pacific Corp.
       6.250%, 12/15/2021 480,000 489,000
StoneMor Partners LP
       7.875%, 06/01/2021 (S) 530,000 545,900
Taylor Morrison Communities, Inc.
       7.750%, 04/15/2020 (S) 1,104,000 1,181,280
The William Carter Company
       5.250%, 08/15/2021 550,000 566,500
Toll Brothers Finance Corp.
       6.750%, 11/01/2019 320,000 357,600
Univision Communications, Inc.
       6.750%, 09/15/2022 (S) 306,000 327,420
       6.875%, 05/15/2019 (S) 440,000 458,700
       7.875%, 11/01/2020 (S) 150,000 160,688
Virgin Media Secured Finance PLC
       5.500%, 01/15/2025 (S) 470,000 467,650
William Lyon Homes, Inc.
       5.750%, 04/15/2019 580,000 569,850
       8.500%, 11/15/2020 760,000 820,800
WLH PNW Finance Corp.
       7.000%, 08/15/2022 (S) 710,000 718,875
WMG Acquisition Corp.
       6.750%, 04/15/2022 (S) 1,000,000 957,500
Woodside Homes Company LLC
       6.750%, 12/15/2021 (S) 1,100,000 1,089,000
45,108,180
Consumer staples - 5.0%
Alliance One International, Inc.
       9.875%, 07/15/2021 670,000 653,250
Beverages & More, Inc.
       10.000%, 11/15/2018 (S) 1,210,000 1,137,400
Carolina Beverage Group LLC
       10.625%, 08/01/2018 (S) 630,000 650,475
Century Intermediate Holding Company 2,
       PIK
       9.750%, 02/15/2019 (S) 1,070,000 1,126,175
Constellation Brands, Inc.
       4.250%, 05/01/2023 900,000 878,625
Crestview DS Merger Sub II, Inc.
       10.000%, 09/01/2021 1,120,000 1,237,600
Dole Food Company, Inc.
       7.250%, 05/01/2019 (S) 880,000 873,400
First Quality Finance Company, Inc.
       4.625%, 05/15/2021 (S) 200,000 186,500
Hearthside Group Holdings LLC
       6.500%, 05/01/2022 (S) 940,000 914,150
HJ Heinz Company
       4.250%, 10/15/2020 120,000 119,250
Lantheus Medical Imaging, Inc.
       9.750%, 05/15/2017 1,620,000 1,607,850
Pactiv LLC
       7.950%, 12/15/2025 340,000 358,700
       8.375%, 04/15/2027 1,430,000 1,515,800
Reynolds Group Issuer, Inc.
       5.750%, 10/15/2020 570,000 579,975
Simmons Foods, Inc.
       7.875%, 10/01/2021 (S) 1,100,000 1,089,000
Smithfield Foods, Inc.
       5.875%, 08/01/2021 (S) 640,000 648,000
Spectrum Brands, Inc.
       6.625%, 11/15/2022 120,000 126,000
The Whitewave Foods Company
       5.375%, 10/01/2022 555,000 560,550
Wells Enterprises, Inc.
       6.750%, 02/01/2020 (S) 553,000 568,208
14,830,908
Energy - 18.2%
Access Midstream Partners LP
       6.125%, 07/15/2022 1,900,000 2,033,000
Adaro Indonesia PT
       7.625%, 10/22/2019 (S) 730,000 759,930
Antero Resources Corp.
       5.125%, 12/01/2022 (S) 1,040,000 1,011,400
Arch Coal, Inc.
       9.875%, 06/15/2019 1,800,000 1,044,000
Atlas Pipeline Partners LP
       4.750%, 11/15/2021 450,000 419,063
       5.875%, 08/01/2023 570,000 557,175
Atwood Oceanics, Inc.
       6.500%, 02/01/2020 990,000 1,014,750
Berry Petroleum Company LLC
       6.750%, 11/01/2020 1,700,000 1,700,000
California Resources Corp.
       6.000%, 11/15/2024 (S) 1,090,000 1,119,975
Calumet Specialty Products Partners LP
       6.500%, 04/15/2021 (S) 460,000 437,000
       7.625%, 01/15/2022 100,000 101,500
       9.625%, 08/01/2020 630,000 693,000
CGG SA
       6.500%, 06/01/2021 990,000 871,200
Chesapeake Energy Corp.
       6.125%, 02/15/2021 1,000,000 1,087,500
       6.875%, 11/15/2020 80,000 89,200
Cloud Peak Energy Resources LLC
       6.375%, 03/15/2024 610,000 594,750
Comstock Resources, Inc.
       9.500%, 06/15/2020 580,000 635,100
Corral Petroleum Holdings AB, PIK
       15.000%, 12/31/2017 (S) 1,387,583 1,235,046
Crestwood Midstream Partners LP
       6.000%, 12/15/2020 140,000 141,050
       6.125%, 03/01/2022 700,000 701,750
El Paso Corp.
       6.500%, 09/15/2020 250,000 281,250
EXCO Resources, Inc.
       8.500%, 04/15/2022 710,000 681,600
First Wind Capital LLC
       10.250%, 06/01/2018 (S) 1,390,000 1,473,400

The accompanying notes are an integral part of the financial statements. 91


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

High Yield Trust (continued)

Shares or
Principal      
Amount Value
CORPORATE BONDS (continued)
Energy (continued)
Foresight Energy LLC
       7.875%, 08/15/2021 (S) $ 1,130,000 $ 1,189,325
FTS International, Inc.
       6.250%, 05/01/2022 (S) 1,080,000 1,061,100
Gulfport Energy Corp.
       7.750%, 11/01/2020 (S) 250,000 260,625
Halcon Resources Corp.
       8.875%, 05/15/2021 1,720,000 1,694,200
       9.750%, 07/15/2020 370,000 376,475
Hercules Offshore, Inc.
       6.750%, 04/01/2022 (S) 540,000 422,550
       7.500%, 10/01/2021 (L)(S) 2,090,000 1,682,450
       8.750%, 07/15/2021 (S) 570,000 495,900
Hiland Partners LP
       5.500%, 05/15/2022 (S) 190,000 184,775
       7.250%, 10/01/2020 (S) 600,000 636,000
Jupiter Resources, Inc.
       8.500%, 10/01/2022 (S) 330,000 292,875
KCA Deutag UK Finance PLC
       7.250%, 05/15/2021 (S) 680,000 646,000
Kinder Morgan, Inc.
       5.625%, 11/15/2023 (S) 620,000 658,750
       7.750%, 01/15/2032 660,000 810,150
Linn Energy LLC
       6.500%, 09/15/2021 460,000 448,500
Magnum Hunter Resources Corp.
       9.750%, 05/15/2020 1,410,000 1,491,075
MarkWest Energy Partners LP
       6.250%, 06/15/2022 19,000 19,998
MEG Energy Corp.
       6.375%, 01/30/2023 (S) 1,118,000 1,131,975
       7.000%, 03/31/2024 (S) 310,000 320,850
Milagro Oil & Gas, Inc.
       10.500%, 05/15/2016 (H) 1,370,000 1,082,300
Murray Energy Corp.
       9.500%, 12/05/2020 (S) 880,000 968,000
Natural Resource Partners LP
       9.125%, 10/01/2018 450,000 462,375
New Gulf Resources LLC
       11.750%, 05/15/2019 900,000 913,500
Pacific Drilling SA
       5.375%, 06/01/2020 (S) 930,000 850,950
Parker Drilling Company
       6.750%, 07/15/2022 (S) 730,000 733,650
Parsley Energy LLC
       7.500%, 02/15/2022 (S) 950,000 980,875
Peabody Energy Corp.
       7.875%, 11/01/2026 80,000 77,200
Penn Virginia Resource Partners LP
       6.500%, 05/15/2021 550,000 576,125
Petrobras Global Finance BV
       6.250%, 03/17/2024 710,000 742,163
Puma International Financing SA
       6.750%, 02/01/2021 (S) 730,000 748,433
QEP Resources, Inc.
       5.250%, 05/01/2023 970,000 940,900
       5.375%, 10/01/2022 480,000 470,400
       6.875%, 03/01/2021 140,000 151,900
Quicksilver Resources, Inc.
       11.000%, 07/01/2021 (L) 740,000 488,400
Regency Energy Partners LP
       4.500%, 11/01/2023 90,000 87,075
       5.000%, 10/01/2022 630,000 622,125
Rice Energy, Inc.
       6.250%, 05/01/2022 (S) 1,100,000 1,072,500
Rockies Express Pipeline LLC
       5.625%, 04/15/2020 (S) 460,000 476,100
Rose Rock Midstream LP
       5.625%, 07/15/2022 (S) 470,000 465,300
RSP Permian, Inc.
       6.625%, 10/01/2022 (S) 500,000 503,125
Samson Investment Company
       9.750%, 02/15/2020 1,640,000 1,488,300
Sanchez Energy Corp.
       6.125%, 01/15/2023 (S) 320,000 317,248
       7.750%, 06/15/2021 1,710,000 1,829,700
Shelf Drilling Holdings, Ltd.
       8.625%, 11/01/2018 (S) 470,000 493,500
Sidewinder Drilling, Inc.
       9.750%, 11/15/2019 (S) 680,000 680,000
Summit Midstream Holdings LLC
       5.500%, 08/15/2022 1,060,000 1,038,800
       7.500%, 07/01/2021 500,000 535,000
Targa Resources Partners LP
       6.375%, 08/01/2022 525,000 559,125
Teine Energy, Ltd.
       6.875%, 09/30/2022 (S) 340,000 333,625
Westmoreland Coal Company
       10.750%, 02/01/2018 520,000 546,000
53,740,906
Financials - 7.7%
Ally Financial, Inc.
       8.000%, 03/15/2020 to 11/01/2031 490,000 598,075
Banco Espirito Santo SA
       4.750%, 01/15/2018 EUR 200,000 234,927
       5.875%, 11/09/2015 400,000 500,234
Bank of America Corp. (5.200% to
       06/01/2023, then 3 month
       LIBOR + 3.135%)
       06/01/2023 (Q) $ 980,000 921,200
Barclays Bank PLC
       7.625%, 11/21/2022 320,000 343,880
CBRE Services, Inc.
       5.250%, 03/15/2025 800,000 795,000
CIT Group, Inc.
       5.000%, 08/15/2022 to 08/01/2023 2,090,000 2,077,325
Citigroup, Inc. (6.300% to 05/15/2024,
       then 3 month LIBOR + 3.423%)
       05/15/2024 (Q) 1,770,000 1,752,300
Compiler Finance Sub, Inc.
       7.000%, 05/01/2021 (S) 830,000 784,350
Credit Agricole SA (8.375% to
       10/13/2019, then 3 month
       LIBOR + 6.982%)
       10/13/2019 (L)(Q)(S) 460,000 529,230
CTR Partnership LP
       5.875%, 06/01/2021 (S) 930,000 930,000
Fidelity & Guaranty Life Holdings, Inc.
       6.375%, 04/01/2021 (S) 470,000 492,325
First Cash Financial Services, Inc.
       6.750%, 04/01/2021 160,000 166,400
Globe Luxembourg SCA
       9.625%, 05/01/2018 (S) 620,000 657,200
GMAC International Finance BV
       7.500%, 04/21/2015 EUR 530,000 691,775

The accompanying notes are an integral part of the financial statements. 92


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

High Yield Trust (continued)

Shares or
Principal
Amount       Value
CORPORATE BONDS (continued)
Financials (continued)
HSBC Holdings PLC    
       6.375%, 09/17/2024 (Q) $ 710,000 $ 709,113
JPMorgan Chase & Company (5.150% to
       05/01/2023, then 3 month
       LIBOR + 3.250%)
       05/01/2023 (Q) 380,000 361,950
Liberty Mutual Group, Inc.
       7.800%, 03/15/2037 (S) 430,000 505,788
M&T Bank Corp.
       6.875%, 06/15/2016 (Q) 790,000 804,472
Navient LLC
       8.000%, 03/25/2020 1,110,000 1,244,588
The Geo Group, Inc.
       5.875%, 10/15/2024 750,000 753,750
The Howard Hughes Corp.
       6.875%, 10/01/2021 (S) 1,100,000 1,135,750
The Royal Bank of Scotland Group PLC
       6.000%, 12/19/2023 190,000 199,236
The Royal Bank of Scotland Group PLC
       (7.648% to 09/30/2031, then 3 month
       LIBOR + 2.500%)
       09/30/2031 (Q) 1,740,000 2,035,800
The Royal Bank of Scotland NV
       7.750%, 05/15/2023 210,000 241,318
The Royal Bank of Scotland PLC
       13.125%, 03/19/2022 (P) AUD 1,550,000 1,596,653
TMX Finance LLC
       8.500%, 09/15/2018 (S) $ 610,000 606,950
Wells Fargo & Company (5.900% to
       06/15/2024, then 3 month
       LIBOR + 3.110%)
       06/15/2024 (Q) 1,120,000 1,141,000
22,810,589
Health care - 3.2%
Acadia Healthcare Company, Inc.
       6.125%, 03/15/2021 650,000 669,500
       12.875%, 11/01/2018 390,000 448,500
DJO Finance LLC
       9.750%, 10/15/2017 210,000 213,150
       9.875%, 04/15/2018 890,000 932,275
ExamWorks Group, Inc.
       9.000%, 07/15/2019 1,000,000 1,070,000
Fresenius Medical Care
       US Finance II, Inc.
       5.875%, 01/31/2022 (S) 1,000,000 1,060,000
Fresenius Medical Care US Finance, Inc.
       5.750%, 02/15/2021 (S) 110,000 116,050
Grifols Worldwide Operations, Ltd.
       5.250%, 04/01/2022 (S) 200,000 197,500
HCA, Inc.
       5.000%, 03/15/2024 800,000 787,000
       7.500%, 02/15/2022 150,000 168,750
IASIS Healthcare LLC
       8.375%, 05/15/2019 1,260,000 1,319,850
JLL/Delta Dutch Newco BV
       7.500%, 02/01/2022 (S) 1,310,000 1,323,100
Salix Pharmaceuticals, Ltd.
       6.000%, 01/15/2021 (S) 360,000 389,700
Universal Hospital Services, Inc.
       7.625%, 08/15/2020 660,000 620,400
9,315,775
Industrials - 15.9%
Aecom Technology Corp.
       5.875%, 10/15/2024 (S) 1,070,000 1,086,050
AerCap Ireland Capital, Ltd.
       4.500%, 05/15/2021 (S) 320,000 310,400
Air Canada 2013-1 Class B Pass
       Through Trust
       5.375%, 05/15/2021 (S) 317,324 325,257
Air Canada 2013-1 Class C Pass
       Through Trust
       6.625%, 05/15/2018 (S) 200,000 208,430
Alliant Techsystems, Inc.
       5.250%, 10/01/2021 (S) 900,000 902,250
American Airlines 2013-1 Class B Pass
       Through Trust
       5.625%, 01/15/2021 (S) 244,986 252,336
American Airlines 2013-1 Class C Pass
       Through Trust
       6.125%, 07/15/2018 (S) 1,790,000 1,852,650
American Airlines 2013-2 Class B Pass
       Through Trust
       5.600%, 07/15/2020 (S) 835,075 860,128
American Builders & Contractors Supply
       Company, Inc.
       5.625%, 04/15/2021 (S) 1,180,000 1,156,400
Ashtead Capital, Inc.
       5.625%, 10/01/2024 (S) 1,280,000 1,292,800
       6.500%, 07/15/2022 (S) 720,000 763,200
Ashton Woods USA LLC
       6.875%, 02/15/2021 (S) 520,000 496,600
Ausdrill Finance Pty, Ltd.
       6.875%, 11/01/2019 (S) 980,000 904,050
CBC Ammo LLC
       7.250%, 11/15/2021 (S) 1,450,000 1,448,188
Continental Airlines 2001-1 Class B Pass
       Through Trust
       7.373%, 12/15/2015 31,911 33,625
Continental Airlines 2007-1 Class B Pass
       Through Trust
       6.903%, 04/19/2022 118,689 127,733
Delta Air Lines 2009-1 Series B Pass
       Through Trust
       9.750%, 12/17/2016 228,518 257,083
Delta Air Lines 2012-1 Class B Pass
       Through Trust
       6.875%, 05/07/2019 (S) 439,544 490,091
DH Services Luxembourg Sarl
       7.750%, 12/15/2020 (S) 1,000,000 1,050,000
Ducommun, Inc.
       9.750%, 07/15/2018 1,170,000 1,265,063
Empresas ICA SAB de CV
       8.875%, 05/29/2024 (S) 1,340,000 1,376,850
Erickson, Inc.
       8.250%, 05/01/2020 (L) 725,000 688,750
Flexi-Van Leasing, Inc.
       7.875%, 08/15/2018 (S) 810,000 844,425
Florida East Coast Holdings Corp.
       6.750%, 05/01/2019 (S) 580,000 593,050
       9.750%, 05/01/2020 (L)(S) 230,000 233,450
Garda World Security Corp.
       7.250%, 11/15/2021 (S) 300,000 298,500
Griffon Corp.
       5.250%, 03/01/2022 1,520,000 1,447,800

The accompanying notes are an integral part of the financial statements. 93


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

High Yield Trust (continued)

Shares or
Principal
Amount       Value
CORPORATE BONDS (continued)
Industrials (continued)
H&E Equipment Services, Inc.
       7.000%, 09/01/2022 $ 930,000 $ 992,775
Hapag-Lloyd AG
       9.750%, 10/15/2017 (S) 760,000 790,400
Hawaiian Airlines 2013-1 Class B Pass
       Through Certificates
       4.950%, 01/15/2022 560,000 551,600
Horizon Lines LLC
       11.000%, 10/15/2016 465,000 466,163
Horizon Lines LLC, PIK
       13.000%, 10/15/2016 857,949 774,299
International Lease Finance Corp.
       8.250%, 12/15/2020 1,030,000 1,217,975
International Wire Group Holdings, Inc.
       8.500%, 10/15/2017 (S) 530,000 568,425
Jack Cooper Holdings Corp.
       9.250%, 06/01/2020 (S) 1,900,000 2,042,500
JM Huber Corp.
       9.875%, 11/01/2019 (S) 410,000   459,200
Jurassic Holdings III, Inc.
       6.875%, 02/15/2021 (S) 530,000   530,000
KP Germany Erste GmbH    
       11.625%, 07/15/2017 EUR 180,000 250,586
       11.625%, 07/15/2017 (S) 220,000 306,272
LMI Aerospace, Inc.
       7.375%, 07/15/2019 (S) $ 520,000 520,000
Michael Baker Holdings LLC, PIK
       8.875%, 04/15/2019 (S) 1,420,000 1,405,800
Michael Baker International LLC
       8.250%, 10/15/2018 (S) 1,140,000 1,151,400
Navios Maritime Acquisition Corp.
       8.125%, 11/15/2021 (S) 1,050,000 1,013,250
Neovia Logistics Intermediate
       Holdings LLC, PIK
       10.000%, 02/15/2018 (S) 1,790,000 1,816,850
NES Rentals Holdings, Inc.
       7.875%, 05/01/2018 (S) 740,000 771,450
Rearden G Holdings EINS GmbH
       7.875%, 03/30/2020 (S) 702,000 733,590
SPL Logistics Escrow LLC
       8.875%, 08/01/2020 (S) 80,000 87,000
syncreon Group BV
       8.625%, 11/01/2021 (S) 1,240,000 1,227,600
Triumph Group, Inc.
       5.250%, 06/01/2022 400,000 394,000
Ultrapetrol Bahamas, Ltd.
       8.875%, 06/15/2021 930,000 981,150
United Airlines 2014-1 Class B Pass
       Through Trust
       4.750%, 04/11/2022 1,340,000 1,356,080
United Rentals North America, Inc.
       5.750%, 11/15/2024 870,000 881,397
       7.625%, 04/15/2022 500,000 546,250
US Airways 2012-2 Class B Pass
       Through Trust
       6.750%, 06/03/2021 796,300 860,004
Watco Companies LLC
       6.375%, 04/01/2023 (S) 650,000 653,250
WESCO Distribution, Inc.
       5.375%, 12/15/2021 810,000 803,925
West Corp.
       5.375%, 07/15/2022 (S) 1,630,000 1,503,675
XPO Logistics, Inc.
       7.875%, 09/01/2019 (S) 590,000 609,175
  46,831,200
Information technology - 2.2%
ACI Worldwide, Inc.
       6.375%, 08/15/2020 (S) 780,000 809,250
Activision Blizzard, Inc.
       5.625%, 09/15/2021 (S) 300,000 312,000
       6.125%, 09/15/2023 (S) 640,000 680,000
Ancestry.com, Inc.
       11.000%, 12/15/2020 430,000 490,200
Ancestry.com, Inc., PIK
       9.625%, 10/15/2018 (S) 730,000 730,000
First Data Corp.
       12.625%, 01/15/2021 1,670,000 1,999,825
First Data Corp., PIK
       8.750%, 01/15/2022 (S) 80,000 84,800
Interface Security Systems Holdings, Inc.
       9.250%, 01/15/2018 630,000 645,750
Kemet Corp.
       10.500%, 05/01/2018 170,000 178,288
Zebra Technologies Corp.
       7.250%, 10/15/2022 (S) 510,000 510,000
  6,440,113
Materials - 8.2%
AngloGold Ashanti Holdings PLC
       8.500%, 07/30/2020 406,000 446,844
Appvion, Inc. 9.000%, 06/01/2020 (S) 1,780,000 1,470,725
Ardagh Finance Holdings SA, PIK
       8.625%, 06/15/2019 (S) 750,000 753,750
Ardagh Packaging Finance PLC
       3.234%, 12/15/2019 (P)(S) 1,010,000 977,175
       7.000%, 11/15/2020 (S) 91,765 92,682
       9.125%, 10/15/2020 (S) 720,000 775,800
AuRico Gold, Inc. 7.750%, 04/01/2020 (S) 620,000 620,000
Axiall Corp. 4.875%, 05/15/2023 310,000 297,600
Barminco Finance Pty, Ltd.
       9.000%, 06/01/2018 (S) 940,000 813,100
BWAY Holding Company
       9.125%, 08/15/2021 (S) 620,000 623,100
Cemex SAB De CV
       5.700%, 01/11/2025 (S) 220,000 211,970
Coeur Mining, Inc. 7.875%, 02/01/2021 1,130,000 1,059,375
Coveris Holdings SA
       7.875%, 11/01/2019 (S) 1,140,000 1,191,300
Eagle Spinco, Inc. 4.625%, 02/15/2021 615,000 591,169
Evraz Group SA
       6.750%, 04/27/2018 (S) 700,000 671,188
       9.500%, 04/24/2018 100,000 104,250
FMG Resources August 2006 Pty, Ltd.
       6.875%, 02/01/2018 (S) 590,000 606,225
       6.875%, 04/01/2022 (L)(S) 1,210,000 1,231,175
       8.250%, 11/01/2019 (L)(S) 300,000 310,125
Global Brass & Copper, Inc.
       9.500%, 06/01/2019 570,000 632,700
Hardwoods Acquisition, Inc.
       7.500%, 08/01/2021 (S) 800,000 788,000
Hexion US Finance Corp.
       6.625%, 04/15/2020 250,000 251,250
       8.875%, 02/01/2018 710,000 723,313
HIG BBC Intermediate Holdings LLC,
       PIK 10.500%, 09/15/2018 (S) 470,000 473,525

The accompanying notes are an integral part of the financial statements. 94


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

High Yield Trust (continued)

Shares or
Principal
Amount       Value
CORPORATE BONDS (continued)
Materials (continued)
Kerling PLC 10.625%, 02/01/2017 (S) EUR 553,000 $ 724,659
Midwest Vanadium Pty, Ltd.
       11.500%, 02/15/2018 (H)(S) $ 980,000 142,100
Prince Mineral Holding Corp.
       12.000%, 12/15/2019 (S) 460,000 515,200
Resolute Forest Products, Inc.  
       5.875%, 05/15/2023 1,460,000 1,349,588
Ryerson, Inc. 9.000%, 10/15/2017 710,000 749,050
Sappi Papier Holding GmbH
       6.625%, 04/15/2021 (S) 90,000 93,150
St. Barbara, Ltd. 8.875%, 04/15/2018 (S) 860,000 722,400
Thompson Creek Metals Company, Inc.
       9.750%, 12/01/2017 500,000 543,750
       12.500%, 05/01/2019 730,000 801,175
Vedanta Resources PLC
       6.000%, 01/31/2019 (S) 1,660,000 1,676,600
Verso Paper Holdings LLC
       11.750%, 01/15/2019 830,000 832,075
Walter Energy, Inc.
       9.500%, 10/15/2019 (S) 330,000 297,000
  24,163,088
Telecommunication services - 7.2%
Axtel SAB de CV (8.000% until
       01/31/2015, then 9.000% thereafter)  
       01/31/2020 (S) 629,000 619,565
CenturyLink, Inc.
       5.800%, 03/15/2022 1,210,000 1,240,250
       6.750%, 12/01/2023 (L) 230,000 246,100
Cogent Communications Holdings, Inc.
       8.375%, 02/15/2018 (S) 1,100,000 1,155,000
Intelsat Jackson Holdings SA
       7.500%, 04/01/2021 790,000 843,325
Level 3 Financing, Inc.
       7.000%, 06/01/2020 320,000 337,200
       8.625%, 07/15/2020 1,000,000 1,082,500
Sprint Capital Corp.
       6.875%, 11/15/2028 580,000 553,900
       8.750%, 03/15/2032 5,510,000 6,012,788
Sprint Communications, Inc.
       9.000%, 11/15/2018 (S) 620,000 716,875
Sprint Corp.
       7.875%, 09/15/2023 (S) 120,000 127,500
T-Mobile USA, Inc.
       6.000%, 03/01/2023 1,480,000 1,480,000
tw telecom holdings, Inc.
       6.375%, 09/01/2023 1,400,000 1,568,000
UPCB Finance VI, Ltd.
       6.875%, 01/15/2022 (S) 810,000 864,675
Vimpel Communications OJSC
       8.250%, 05/23/2016 947,000 989,615
VimpelCom Holdings BV
       7.504%, 03/01/2022 (S) 460,000 468,625
Virgin Media Finance PLC
       6.000%, 10/15/2024 (S) 1,680,000 1,680,000
Windstream Corp.
       7.500%, 04/01/2023 1,370,000 1,404,250
21,390,168
Utilities - 3.1%
AES Corp.
       4.875%, 05/15/2023 470,000 446,500
       5.500%, 03/15/2024 660,000 641,850
       7.375%, 07/01/2021 550,000 616,000
Atlantic Power Corp.
       9.000%, 11/15/2018 100,000 101,000
Calpine Corp.
       6.000%, 01/15/2022 (S) 1,320,000 1,389,300
Midwest Generation LLC, Series B
       8.560%, 01/02/2016 292,319 299,626
Miran Mid-Atlantic Series C Pass
       Through Trust
       10.060%, 12/30/2028 1,071,724 1,186,934
NRG REMA LLC
       9.237%, 07/02/2017 1,407,076 1,502,053
       9.681%, 07/02/2026 1,010,000 1,080,700
Red Oak Power LLC
       9.200%, 11/30/2029 1,030,000 1,127,850
Suburban Propane Partners LP
       5.500%, 06/01/2024 760,000 725,800
  9,117,613
TOTAL CORPORATE BONDS (Cost $260,583,151) $ 253,748,540
 
CAPITAL PREFERRED SECURITIES - 0.3%
Financials - 0.3%
ILFC E-Capital Trust I (1.550% + Highest
       of 3 month LIBOR, 10 year CMT and
       30 year CMT)
       12/21/2065 (S) 1,000,000 942,500
TOTAL CAPITAL PREFERRED SECURITIES (Cost $838,415) $ 942,500
 
CONVERTIBLE BONDS - 0.3%
Materials - 0.3%
Hercules, Inc.
       6.500%, 06/30/2029 250,000 228,438
Mirabela Nickel, Ltd.
       9.500%, 06/20/2019 (S) 645,000 645,000
873,438
Telecommunication services - 0.0%
Axtel SAB de CV (8.000% until
       01/31/2015, then 9.000% thereafter)
       01/31/2020 (S) MXN 717,000 96,095
TOTAL CONVERTIBLE BONDS (Cost $986,758) $ 969,533
 
TERM LOANS (M) - 4.4%
Consumer discretionary - 1.0%
CWGS Group LLC
       5.750%, 02/20/2020 $ 1,187,313 1,187,313
Equinox Holdings, Inc.
       9.750%, 07/31/2020 630,000 636,300
Stockbridge
       13.000%, 05/02/2017 680,000 734,400
The Gymboree Corp.
       5.000%, 02/23/2018 310,000 204,600
William Lyon Homes, Inc.
       TBD 08/12/2022 (T) 286,154 286,154
  3,048,767
Consumer staples - 0.1%
AdvancePierre Foods, Inc.
       9.500%, 10/10/2017 270,000 266,625
Energy - 0.4%
TPF II LC LLC TBD 09/11/2021 (T) 1,070,000 1,067,325

The accompanying notes are an integral part of the financial statements. 95


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

High Yield Trust (continued)

Shares or
Principal
Amount       Value
TERM LOANS (M) (continued)
Health care - 0.9%
CRC Health Corp.
       9.000%, 09/28/2021 $ 650,000 $ 647,563
Immucor, Inc.
       5.000%, 08/17/2018 300,779 298,523
Physiotherapy Associates Holdings, Inc.
       11.000%, 10/10/2016 830,000 817,550
Radnet Management, Inc.
       8.000%, 03/25/2021 1,000,000 1,000,000
2,763,636
Industrials - 0.9%
Commercial Barge Line Company
       10.750%, 03/22/2020 1,860,000 1,878,600
Intelligrated, Inc.
       4.500%, 07/30/2018 870,000 854,775
2,733,375
Materials - 0.2%  
Kronos, Inc.
       9.750%, 04/30/2020 510,000 523,388
Utilities - 0.9%
Energy Future Intermediate Holding
       Company LLC
       4.250%, 06/19/2016 2,565,550 2,548,445
TOTAL TERM LOANS (Cost $12,901,279) $ 12,951,561
 
COMMON STOCKS - 2.7%
Consumer discretionary - 0.2%
Bossier Casino Venture Holdco, Inc. (I)(S)   43,365 $ 0
Ford Motor Company 49,494 732,016
PB Investors II LLC (I) 127,402 0
Tropicana Entertainment LLC (I) 7,500 7,500
Vertis Holdings, Inc. (I) 69,391 0
    739,516
Financials - 1.4%
Citigroup, Inc. 32,112 1,664,044
JPMorgan Chase & Company 13,909 837,878
KCAD Holdings I, Ltd. (I) 165,553,563 1,170,464
Realogy Holdings Corp. (I) 10,075 374,790
4,047,176
Health care - 0.1%
Physiotherapy
       Associates Holdings, Inc. (I) 11,500 413,310
Industrials - 0.7%
DeepOcean Group Holdings AS (I) 83,286 1,863,942
Horizon Lines, Inc., Class A (I) 373,764 153,243
2,017,185
Materials - 0.3%
LyondellBasell Industries NV, Class A 6,013 653,373
Mirabela Nickel, Ltd. (I) 2,045,077 117,445
  770,818
TOTAL COMMON STOCKS (Cost $10,834,086) $ 7,988,005
 
PREFERRED SECURITIES - 1.0%
Energy - 0.1%
Rex Energy Corp., 6.000% 3,300 $ 318,125
Financials - 0.9%
GMAC Capital Trust I (8.125% to
       02/15/2016, then
       3 month LIBOR + 5.785%) 95,597 2,543,836
TOTAL PREFERRED SECURITIES (Cost $2,641,435) $ 2,861,961
 
ESCROW CERTIFICATES - 0.0%
Consumer discretionary - 0.0%
Adelphia Communications Corp.
       7.750%, 01/15/2049 (I) 3,000,000 26,250
       9.875%, 03/01/2049 (I) 2,050,000 17,938
       10.250%, 11/01/2049 (I) 1,025,000 8,969
53,157
TOTAL ESCROW CERTIFICATES (Cost $440,831) $ 53,157
 
WARRANTS - 0.0%
Mood Media Corp. (Expiration Date:
       05/06/2016; Strike Price: $3.50) (I) 66,933 78
TOTAL WARRANTS (Cost $0) $ 78
 
SECURITIES LENDING COLLATERAL - 2.8%
John Hancock Collateral
       Investment Trust, 0.1178% (W)(Y) 812,708 $ 8,132,851
TOTAL SECURITIES LENDING
COLLATERAL (Cost $8,132,849) $ 8,132,851
 
SHORT-TERM INVESTMENTS - 1.1%
Money market funds - 1.0%
State Street Institutional Liquid Reserves
       Fund, 0.0853% (Y) 3,027,647 3,027,647
Repurchase agreement - 0.1%
Repurchase Agreement with State
       Street Corp. dated 09/30/2014 at
       0.000% to be repurchased at $143,787
       on 10/01/2014, collateralized by
       $146,600 U.S. Treasury Notes, 1.500%
       due 08/31/2018 (valued at $146,531,
       including interest) $ 143,787 $ 143,787
TOTAL SHORT-TERM INVESTMENTS (Cost $3,171,434) $ 3,171,434
Total Investments (High Yield Trust)
       (Cost $302,851,376) - 99.3% $ 292,845,232
Other assets and liabilities, net - 0.7% 2,116,747
TOTAL NET ASSETS - 100.0% $ 294,961,979

Income Trust

Shares or
Principal
Amount       Value
CORPORATE BONDS - 31.4%
Consumer discretionary - 5.6%
Academy, Ltd. 9.250%, 08/01/2019 (S) $ 400,000 $ 423,000
Altice SA 7.750%, 05/15/2022 (S) 500,000   516,250
Cablevision Systems Corp.  
       7.750%, 04/15/2018   2,000,000 2,167,500
CBS Outdoor Americas Capital LLC  
       5.250%, 02/15/2022 (S) 100,000 99,875
       5.625%, 02/15/2024 (S) 100,000 100,250

The accompanying notes are an integral part of the financial statements. 96


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Income Trust (continued)

Shares or
Principal
Amount       Value
CORPORATE BONDS (continued)
Consumer discretionary (continued)
CCO Holdings LLC
       5.125%, 02/15/2023 $ 900,000 $ 864,000
       6.500%, 04/30/2021 1,000,000 1,042,500
Chrysler Group LLC 8.000%, 06/15/2019 3,000,000 3,183,750
CSC Holdings LLC 6.750%, 11/15/2021 2,000,000 2,130,400
Cumulus Media Holdings, Inc.
       7.750%, 05/01/2019 700,000 717,500
DISH DBS Corp. 5.000%, 03/15/2023 1,500,000 1,439,063
iHeartCommunications, Inc.
       9.000%, 12/15/2019 to 03/01/2021 1,719,000 1,723,143
       9.000%, 09/15/2022 (L)(S) 2,200,000 2,183,500
KB Home 7.500%, 09/15/2022 700,000 749,000
Laureate Education, Inc.  
       9.500%, 09/01/2019 (S) 500,000 502,500
MGM Resorts International
       6.750%, 10/01/2020   400,000   426,000
       10.000%, 11/01/2016 1,500,000 1,691,250
Numericable Group SA
       6.000%, 05/15/2022 (S) 1,000,000 1,007,500
Sirius XM Radio, Inc.  
       6.000%, 07/15/2024 (S) 700,000 710,500
The Goodyear Tire & Rubber Company
       6.500%, 03/01/2021 1,600,000 1,664,000
Visant Corp. 10.000%, 10/01/2017 1,900,000 1,695,750
  25,037,231
Consumer staples - 1.7%
Alliance One International, Inc.
       9.875%, 07/15/2021 1,000,000 975,000
JBS USA LLC
       7.250%, 06/01/2021 (S) 1,200,000 1,260,000
       8.250%, 02/01/2020 (S) 700,000 745,500
Reynolds Group Issuer, Inc.
       5.750%, 10/15/2020 900,000 915,750
       7.875%, 08/15/2019 300,000 318,750
       9.875%, 08/15/2019 1,500,000 1,614,375
The Whitewave Foods Company
       5.375%, 10/01/2022 800,000 808,000
US Foods, Inc. 8.500%, 06/30/2019 800,000 848,200
  7,485,575
Energy - 5.9%
Alpha Natural Resources, Inc.
       7.500%, 08/01/2020 (L)(S) 300,000 268,500
Antero Resources Finance Corp.
       5.375%, 11/01/2021 600,000 597,000
Arch Coal, Inc. 7.000%, 06/15/2019 750,000 399,375
Bill Barrett Corp. 7.000%, 10/15/2022 500,000 496,250
California Resources Corp.
       6.000%, 11/15/2024 (S) 1,700,000 1,746,750
Chesapeake Energy Corp.
       5.750%, 03/15/2023 4,200,000 4,474,260
       6.875%, 11/15/2020 100,000 111,500
CONSOL Energy, Inc.
       5.875%, 04/15/2022 (S) 1,300,000 1,280,500
       8.250%, 04/01/2020 1,400,000 1,470,000
Denbury Resources, Inc.
       5.500%, 05/01/2022 700,000 694,750
Energy XXI Gulf Coast, Inc.
       9.250%, 12/15/2017 1,000,000 1,037,500
EP Energy LLC 9.375%, 05/01/2020 1,000,000 1,090,000
Kinder Morgan, Inc.
       5.625%, 11/15/2023 (S) 1,300,000 1,381,250
       7.750%, 01/15/2032 300,000 368,250
Linn Energy LLC 8.625%, 04/15/2020 1,700,000 1,757,375
Midstates Petroleum Company, Inc.
       10.750%, 10/01/2020 500,000 518,750
Niska Gas Storage Canada ULC
       6.500%, 04/01/2019 (S) 500,000 437,500
Peabody Energy Corp.
       6.250%, 11/15/2021 (L) 1,500,000 1,395,000
Regency Energy Partners LP
       5.875%, 03/01/2022 200,000 208,500
Rice Energy, Inc. 6.250%, 05/01/2022 (S) 200,000 195,000
Sabine Pass Liquefaction LLC
       5.750%, 05/15/2024 (S) 1,000,000 1,017,500
Sabine Pass LNG LP 7.500%, 11/30/2016 800,000 848,080
Samson Investment Company
       9.750%, 02/15/2020 1,800,000 1,633,500
Sanchez Energy Corp. 7.750%, 06/15/2021 900,000 963,000
SandRidge Energy, Inc.
       7.500%, 03/15/2021 500,000 487,500
W&T Offshore, Inc. 8.500%, 06/15/2019 1,200,000 1,242,000
  26,119,590
Financials - 4.2%
Bank of America Corp., (8.125% to
       05/15/2018, then 3 month
       LIBOR + 3.640%)
       05/15/2018 (Q) 1,500,000 1,623,750
Citigroup, Inc. (6.300% to 05/15/2024,
       then 3 month LIBOR + 3.423%)
       05/15/2024 (Q) 1,500,000 1,485,000
E*TRADE Financial Corp.
       6.000%, 11/15/2017 500,000 515,000
JPMorgan Chase & Company (5.150% to
       05/01/2023, then 3 month
       LIBOR + 3.250%)
       05/01/2023 (Q) 1,000,000 952,500
JPMorgan Chase & Company (7.900% to
       04/30/2018, then 3 month
       LIBOR + 3.470%)
       04/30/2018 (Q) 7,500,000 8,141,250
Nationstar Mortgage LLC
       9.625%, 05/01/2019 (L) 2,000,000 2,185,000
Nuveen Investments, Inc.
       9.500%, 10/15/2020 (S) 1,800,000 2,088,000
Stena International SA
       5.750%, 03/01/2024 (S) 800,000 800,000
Wells Fargo & Company (5.900% to
       06/15/2024, then 3 month
       LIBOR + 3.110%)
       06/15/2024 (Q) 800,000 815,000
  18,605,500
Health care - 1.6%
Community Health Systems, Inc.
       5.125%, 08/01/2021 (S) 300,000 299,250
       6.875%, 02/01/2022 (S) 500,000 521,250
HCA, Inc.
       5.875%, 05/01/2023 1,000,000 1,022,500
       6.500%, 02/15/2020 1,300,000 1,418,625
       7.500%, 02/15/2022 1,200,000 1,350,000
Tenet Healthcare Corp.
       8.000%, 08/01/2020 953,000 1,005,415
Valeant Pharmaceuticals International
       7.500%, 07/15/2021 (S) 1,400,000 1,498,000
7,115,040

The accompanying notes are an integral part of the financial statements. 97


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Income Trust (continued)

Shares or
Principal
Amount       Value
CORPORATE BONDS (continued)
Industrials - 2.1%
Abengoa Finance SAU
       8.875%, 11/01/2017 (S) $ 1,200,000 $ 1,311,000
CEVA Group PLC 4.000%, 05/01/2018 (S) 2,100,000 1,960,875
Navistar International Corp.
       8.250%, 11/01/2021 1,100,000 1,127,500
Ocean Rig UDW, Inc.
       7.250%, 04/01/2019 (S) 3,000,000 2,745,000
Stena AB 7.000%, 02/01/2024 (S) 300,000 312,000
TransDigm, Inc.
       6.000%, 07/15/2022 (S) 500,000   493,750
       6.500%, 07/15/2024 (S) 500,000 498,125
United Rentals North America, Inc.
       8.375%, 09/15/2020   900,000 967,500
  9,415,750
Information technology - 3.6%
BMC Software Finance, Inc.
       8.125%, 07/15/2021 (S) 1,500,000 1,440,000
Boxer Parent Company, Inc., PIK
       9.000%, 10/15/2019 (S) 200,000 184,000
CDW LLC 8.500%, 04/01/2019 2,042,000 2,164,520
First Data Corp.
       8.250%, 01/15/2021 (S) 3,500,000 3,710,000
       12.625%, 01/15/2021 3,050,000   3,652,375
First Data Corp., PIK
       8.750%, 01/15/2022 (S) 1,504,000 1,594,240
Freescale Semiconductor, Inc.
       8.050%, 02/01/2020 942,000 1,000,875
       10.750%, 08/01/2020 1,676,000 1,860,360
Infor US, Inc. 9.375%, 04/01/2019 200,000 216,000
SRA International, Inc.
       11.000%, 10/01/2019 300,000 319,500
16,141,870
Materials - 1.5%
Algeco Scotsman Global Finance PLC
       8.500%, 10/15/2018 (S) 1,000,000 1,025,000
AngloGold Ashanti Holdings PLC
       8.500%, 07/30/2020 600,000 660,360
Cemex SAB de CV
       5.875%, 03/25/2019 (S) 500,000 502,500
       9.000%, 01/11/2018 (S) 644,000 679,420
First Quantum Minerals, Ltd.
       6.750%, 02/15/2020 (S) 517,000 526,048
       7.000%, 02/15/2021 (S) 517,000 524,109
FMG Resources August 2006 Pty, Ltd.
       6.875%, 02/01/2018 (S) 1,000,000 1,027,500
INEOS Finance PLC
       8.375%, 02/15/2019 (S) 700,000 749,000
INEOS Group Holdings SA
       5.875%, 02/15/2019 (S) 300,000 295,500
Walter Energy, Inc.
       9.500%, 10/15/2019 (L)(S) 750,000 675,000
6,664,437
Telecommunication services - 3.6%
CenturyLink, Inc. 6.750%, 12/01/2023 (L) 200,000 214,000
Frontier Communications Corp.
       8.500%, 04/15/2020 500,000 555,000
Intelsat Jackson Holdings SA
       5.500%, 08/01/2023 500,000 477,500
Sprint Communications, Inc.
       9.000%, 11/15/2018 (S) 3,000,000 3,468,750
       11.500%, 11/15/2021 1,500,000 1,920,000
T-Mobile USA, Inc.
       6.633%, 04/28/2021 2,500,000 2,562,500
       6.731%, 04/28/2022 2,500,000 2,556,250
Telecom Italia SpA
       5.303%, 05/30/2024 (S) 1,500,000 1,470,000
Verizon Communications, Inc.
       5.150%, 09/15/2023 1,400,000 1,548,478
Wind Acquisition Finance SA
       7.375%, 04/23/2021 (S) 1,000,000 1,005,000
  15,777,478
Utilities - 1.6%
Calpine Corp.
       5.375%, 01/15/2023 1,500,000 1,455,000
       5.750%, 01/15/2025 1,000,000 970,000
GenOn Energy, Inc. 7.875%, 06/15/2017 400,000 407,000
InterGen NV 7.000%, 06/30/2023 (S) 4,000,000 3,850,000
NRG Yield Operating LLC
       5.375%, 08/15/2024 (S) 300,000 301,500
  6,983,500
TOTAL CORPORATE BONDS (Cost $131,591,515) $ 139,345,971
 
CONVERTIBLE BONDS - 1.9%
Consumer discretionary - 0.4%
Volkswagen International Finance NV
       5.500%, 11/09/2015 (S) EUR 1,500,000 1,953,497
Energy - 0.8%
Cobalt International Energy, Inc.
       3.125%, 05/15/2024 $ 4,000,000 3,575,000
Materials - 0.7%
Cemex SAB de CV
       3.250%, 03/15/2016 1,350,000 1,902,656
       3.750%, 03/15/2018 805,000 1,184,859
  3,087,515
TOTAL CONVERTIBLE BONDS (Cost $8,076,355) $ 8,616,012
 
TERM LOANS (M) - 1.9%
Consumer discretionary - 0.8%
iHeartCommunications, Inc.
       3.804%, 01/29/2016 21,427 21,209
       6.904%, 01/30/2019 2,539,722 2,417,894
       7.654%, 07/30/2019 816,818 796,397
SuperMedia, Inc., PIK
       11.600%, 12/30/2016 149,609 122,430
  3,357,930
Industrials - 0.6%
Drillships Financing Holding, Inc.
       6.000%, 03/31/2021 1,989,950 1,903,719
Navistar, Inc.
       5.750%, 08/17/2017 760,128 763,611
  2,667,330
Information technology - 0.5%
First Data Corp.
       3.655%, 03/23/2018 1,584,873 1,552,515
SRA International, Inc.
       6.500%, 07/20/2018 771,429 769,500
2,322,015
TOTAL TERM LOANS (Cost $8,394,887) $ 8,347,275

The accompanying notes are an integral part of the financial statements. 98


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Income Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS - 55.9%
Consumer discretionary - 1.4%
Automobiles - 0.5%
Ford Motor Company 70,000 $ 1,035,300
General Motors Company 32,416 1,035,367
2,070,667
Media - 0.0%
Dex Media, Inc. (I)(L) 19,933 190,559
Multiline retail - 0.9%
Target Corp. 60,000 3,760,800
6,022,026
Consumer staples - 0.7%
Beverages - 0.7%
PepsiCo, Inc. 35,920 3,343,793
Energy - 8.7%
Energy equipment and services - 0.3%
Transocean, Ltd. (L) 35,000 1,118,950
Oil, gas and consumable fuels - 8.4%
BP PLC, ADR 170,000   7,471,500
Canadian Oil Sands, Ltd. 130,000 2,398,143
Chevron Corp. 22,230 2,652,484
Eni SpA 46,610 1,105,879
Exxon Mobil Corp. 39,790 3,742,250
HollyFrontier Corp. 27,390 1,196,395
Royal Dutch Shell PLC, ADR 154,414   11,755,538
Spectra Energy Corp. 73,370 2,880,506
The Williams Companies, Inc. 46,570 2,577,650
Total SA, ADR 25,000 1,611,250
37,391,595
38,510,545
Financials - 3.7%
Banks - 3.2%
Bank of America Corp. 200,000 3,410,000
HSBC Holdings PLC 250,000 2,540,322
JPMorgan Chase & Company 72,160 4,346,918
Wells Fargo & Company 73,150 3,794,291
14,091,531
Insurance - 0.5%
MetLife, Inc. 40,000 2,148,800
16,240,331
Health care - 6.7%
Pharmaceuticals - 6.7%
Eli Lilly & Company 18,400 1,193,240
Johnson & Johnson 46,010 4,904,206
Merck & Company, Inc. 167,130 9,907,466
Pfizer, Inc. 200,000 5,914,000
Roche Holding AG 17,430 5,147,130
Sanofi, ADR 50,000 2,821,500
29,887,542
29,887,542
Industrials - 4.7%
Aerospace and defense - 1.5%
Lockheed Martin Corp. 19,290 3,525,826
Raytheon Company 19,110 1,941,958
The Boeing Company 7,000 891,660
6,359,444
Air freight and logistics - 0.3%
CEVA Group PLC (I) 1,115 1,226,577
Commercial services and supplies - 1.1%
Republic Services, Inc. 47,620 1,858,132
Waste Management, Inc. 65,340 3,105,610
4,963,742
Industrial conglomerates - 1.6%
General Electric Company 281,620 7,215,104
Machinery - 0.2%
Deere & Company 10,760 882,212
20,647,079
Information technology - 4.8%
Communications equipment - 0.7%
Cisco Systems, Inc. 119,080 2,997,244
Semiconductors and semiconductor equipment - 2.6%
Texas Instruments, Inc. 53,370 2,545,215
Intel Corp. 256,460 8,929,937
11,475,152
Software - 0.6%
Microsoft Corp. 61,640 2,857,630
Technology hardware, storage and peripherals - 0.9%
Apple, Inc. 41,650 4,196,238
21,526,264
Materials - 9.1%
Chemicals - 4.9%
Agrium, Inc. (L) 35,000 3,115,000
E.I. du Pont de Nemours & Company 69,450 4,983,732
LyondellBasell Industries NV, Class A 75,000 8,149,500
The Dow Chemical Company 83,430 4,375,069
The Mosaic Company 25,180 1,118,244
21,741,545
Metals and mining - 4.2%
AngloGold Ashanti, Ltd., ADR (I) 28,735 344,820
Barrick Gold Corp. 89,750 1,315,735
BHP Billiton PLC 161,680 4,472,165
Freeport-McMoRan Copper & Gold, Inc. 137,150 4,477,948
Goldcorp, Inc. 65,440 1,507,083
Rio Tinto PLC, ADR (L) 134,483 6,613,874
18,731,625
40,473,170
Telecommunication services - 2.9%
Diversified telecommunication services - 2.7%
AT&T, Inc. 157,320 5,543,957
CenturyLink, Inc. 15,000 613,350
Telstra Corp., Ltd. 500,000 2,319,890
Verizon Communications, Inc. 65,070 3,252,849
11,730,046
Wireless telecommunication services - 0.2%
Vodafone Group PLC 327,272 1,078,434
12,808,480
Utilities - 13.2%
Electric utilities - 8.0%
American Electric Power Company, Inc. 70,000 3,654,700
Duke Energy Corp. 67,082 5,015,721
Entergy Corp. 50,000 3,866,500
Exelon Corp. 155,000 5,283,950
 
The accompanying notes are an integral part of the financial statements. 99


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Income Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Electric utilities (continued)
FirstEnergy Corp. 35,450 $ 1,190,057
HK Electric Investments & HK
       Electric Investments, Ltd. (S) 1,000,000 658,841
NextEra Energy, Inc. 53,345 5,008,029
Pinnacle West Capital Corp. 27,430 1,498,775
PPL Corp. 35,500 1,165,820
The Southern Company 110,000   4,801,500
Xcel Energy, Inc. 110,000 3,344,000
35,487,893
Gas utilities - 0.6%
AGL Resources, Inc. 50,000 2,567,000
Independent power and renewable electricity producers - 0.5%  
Dynegy, Inc. (I) 80,168 2,313,648
Multi-utilities - 4.1%
Dominion Resources, Inc. 60,070 4,150,236
PG&E Corp. 112,400 5,062,496
Public Service Enterprise Group, Inc. 150,000 5,586,000
Sempra Energy 20,950 2,207,711
TECO Energy, Inc. 59,000 1,025,420
  18,031,863  
  58,400,404
TOTAL COMMON STOCKS (Cost $208,800,770) $ 247,859,634
 
PREFERRED SECURITIES - 5.4%
Energy - 1.0%
Energy equipment and services - 0.0%
Newco Acquisition Company, Ltd. (I) 31 48,050
Oil, gas and consumable fuels - 1.0%
Chesapeake Energy Corp., 5.750% (S) 1,900 2,107,813
SandRidge Energy, Inc., 7.000% 26,500 2,358,500
4,466,313
4,514,363
Financials - 3.7%
Banks - 1.2%
Wells Fargo & Company, 7.500% 4,600 5,531,546
Capital markets - 0.1%
Morgan Stanley (6.375% to 10/15/2024,
       then 3 month LIBOR + 3.708%) (I) 20,000 501,400
Diversified financial services - 1.4%
Bank of America Corp., 7.250% 5,350 6,133,775
Insurance - 0.2%
MetLife, Inc., 5.000% 27,000 831,330
Real estate investment trusts - 0.2%
FelCor Lodging Trust, Inc., 1.950% 30,000 774,300
Thrifts and mortgage finance - 0.6%
Federal Home Loan Mortgage Corp.,
       Series Z (Higher of 3 month
       LIBOR + 4.160% or 7.875%) (I) 94,900 977,470
Federal National Mortgage Association,
       Series Q, 6.750% (I) 80,000 614,400
Federal National Mortgage Association,
       Series R, 7.625% (I) 60,200 472,570
Federal National Mortgage Association,
       Series S (Higher of 3 month
       LIBOR + 4.230% or 7.750%) (I)(L) 79,300 729,560
  2,794,000
  16,566,351
Information technology - 0.3%
Semiconductors and semiconductor equipment - 0.3%
Ceva, Inc. (I) 1,068 1,174,932
Utilities - 0.4%
Multi-utilities - 0.4%
Dominion Resources, Inc., 6.000% 8,500 478,125
Dominion Resources, Inc., 6.125% 8,500 476,510
Dominion Resources, Inc., 6.375% 18,600 928,140
  1,882,775
  1,882,775
TOTAL PREFERRED SECURITIES (Cost $25,361,501) $ 24,138,421
 
WARRANTS - 0.0%
Dynegy, Inc. (Expiration Date: 10/02/2017;
       Strike Price: $40.00) (I) 10,796 44,695
TOTAL WARRANTS (Cost $208,370) $ 44,695
 
ESCROW CERTIFICATES - 0.0%
Consumer discretionary - 0.0%
General Motors Company (I) 85,000 850
SuperMedia, Inc. (I) 651,025 0
850
TOTAL ESCROW CERTIFICATES (Cost $326) $ 850
 
EQUITY LINKED SECURITIES - 1.5%
Financials - 1.5%
Anadarko Petroleum Corp. (Barclays Bank
       PLC) 6.000%, 09/02/2015 (S) 15,000 1,524,600
Broadcom Corp. (Wells Fargo & Company)
       7.000%, 12/04/2014 (S) 6,000,000 1,840,200
Devon Energy Corp. (Barclays Bank PLC)
       6.000%, 12/24/2014 (S) 1,500,000 999,075
Weatherford Interntational, Ltd. (Barclays
       Bank PLC) 7.500%, 12/05/2014 (S) 11,500,000 2,129,225
  6,493,100
TOTAL EQUITY LINKED SECURITIES (Cost $6,026,800) $ 6,493,100
 
SECURITIES LENDING COLLATERAL - 3.7%
John Hancock Collateral
       Investment Trust, 0.1178% (W)(Y) 1,623,620 $ 16,247,730
TOTAL SECURITIES LENDING
COLLATERAL (Cost $16,247,499) $ 16,247,730
Total Investments (Income Trust)
       (Cost $404,708,023) - 101.7% $ 451,093,688
Other assets and liabilities, net - (1.7%) (7,453,210 )
TOTAL NET ASSETS - 100.0% $ 443,640,478

International Core Trust

  Shares or
  Principal
  Amount       Value
COMMON STOCKS - 96.9%
Australia - 0.4%  
BGP Holdings PLC (I) 2,126,418 $ 3
BHP Billiton PLC 426   11,791
BHP Billiton, Ltd. 39,644   1,168,447

The accompanying notes are an integral part of the financial statements. 100


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

International Core Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Australia (continued)
Goodman Fielder, Ltd. 344,729 $ 189,328
Investa Office Fund 41,274 120,983
Pacific Brands, Ltd. 169,701 71,948
Westpac Banking Corp. 39,425 1,106,796
2,669,296
Austria - 0.4%
OMV AG 47,096 1,583,690
Voestalpine AG 43,068 1,700,714
  3,284,404
Belgium - 0.9%  
Belgacom SA 73,826 2,570,339
Delhaize Group SA 43,361 3,013,460
Solvay SA 8,053 1,236,810
Umicore SA 5,593 243,843
  7,064,452
Bermuda - 0.0%
Catlin Group, Ltd. 26,080 219,907
Canada - 0.4%
BlackBerry, Ltd. (I) 145,900 1,453,854
Magna International, Inc. 13,400 1,271,860
2,725,714
Denmark - 1.3%
A.P. Moeller - Maersk A/S, Series B 1,072 2,539,400
Carlsberg A/S, Class B 11,154 990,616
Novo Nordisk A/S, Class B 40,932 1,948,845
Pandora A/S 22,893 1,787,410
TDC A/S 83,689 634,005
Vestas Wind Systems A/S (I) 43,828 1,708,750
9,609,026
Finland - 1.5%
Fortum OYJ 89,248 2,176,040
Metso OYJ 6,955 246,398
Neste Oil OYJ 35,311 726,709
Nokia OYJ 730,359 6,201,537
Stora Enso OYJ, Series R 35,414 293,816
Tieto OYJ 25,673 646,831
UPM-Kymmene OYJ 95,417 1,356,379
11,647,710
France - 18.9%
Air France-KLM (I) 4,306 40,323
Alcatel-Lucent (I) 382,565 1,179,947
AXA SA 48,469 1,193,915
BNP Paribas SA 29,247 1,941,070
Bouygues SA 68,105 2,202,137
Carrefour SA 85,629 2,644,607
Casino Guichard Perrachon SA 11,732 1,262,194
Christian Dior SA 825 138,207
Cie de Saint-Gobain 103,845 4,744,832
Cie Generale des Etablissements Michelin 45,699 4,304,424
Credit Agricole SA 131,216 1,977,886
Electricite de France SA 62,207 2,040,809
GDF Suez 507,846 12,737,003
Lagardere SCA 18,016 482,109
Orange SA 756,465 11,288,431
Peugeot SA (I) 282,470 3,614,401
Rallye SA 15,071 658,332
Renault SA 55,498 4,014,707
Rexel SA 13,261 247,646
Sanofi 126,169 14,266,006
Schneider Electric SE (I) 59,297 4,549,410
Societe Generale SA 93,910 4,790,150
Suez Environnement Company 66,596 1,126,426
Total SA 622,287 40,295,633
Valeo SA 11,558 1,284,262
Vallourec SA 26,564 1,222,472
Veolia Environnement SA 107,436 1,894,425
Vinci SA 121,842 7,070,597
Vivendi SA (I) 419,165 10,121,907
143,334,268
Germany - 12.2%
Allianz SE 23,291 3,759,908
Aurubis AG 41,050 2,022,178
BASF SE 129,962 11,854,786
Bayerische Motoren Werke AG 75,162 8,032,883
Bilfinger SE 4,679 295,739
Commerzbank AG (I) 34,020 505,167
Continental AG 6,004 1,137,321
Daimler AG 255,704 19,527,332
Deutsche Lufthansa AG 66,678 1,046,986
Deutsche Post AG 27,356 871,974
Deutsche Telekom AG 455,238 6,890,734
E.ON SE 848,852 15,501,455
Freenet AG 8,556 221,849
Fresenius Medical Care AG & Company KGaA 24,368 1,697,361
Hannover Rueckversicherung AG 3,966 320,094
HeidelbergCement AG 5,508 362,541
K&S AG 61,736 1,741,541
Leoni AG 26,106 1,416,956
Metro AG (I) 42,458 1,392,414
Muenchener Rueckversicherungs AG 10,138 1,999,898
ProSiebenSat.1 Media AG 45,074 1,786,972
Rheinmetall AG 3,161 151,230
Rhoen-Klinikum AG 5,386 163,021
RWE AG 211,736 8,240,876
Salzgitter AG 17,100 586,684
Software AG 4,522 111,565
Suedzucker AG 7,909 123,589
Volkswagen AG 4,401 909,335
92,672,389
Guernsey, Channel Islands - 0.0%
Friends Life Group, Ltd. 62,863 313,059
Hong Kong - 1.9%
Cheung Kong Holdings, Ltd. 139,000 2,284,751
Esprit Holdings, Ltd. 25,615 33,115
Galaxy Entertainment Group, Ltd. 233,000 1,352,804
Hong Kong Land Holdings, Ltd. 29,000 197,105
Hutchison Whampoa, Ltd. 97,000 1,172,594
Noble Group, Ltd. 1,531,000 1,556,505
Sun Hung Kai Properties, Ltd. 338,802 4,807,308
Swire Pacific, Ltd., Class A 161,000 2,076,600
The Link REIT 71,500 413,061
The Wharf Holdings, Ltd. 121,000 860,207
Wheelock and Company, Ltd. 13,000 62,095
14,816,145
Ireland - 0.9%
CRH PLC 134,611 3,057,056
Shire PLC 40,122 3,461,789
6,518,845

The accompanying notes are an integral part of the financial statements. 101


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

International Core Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Israel - 0.5%
Africa Israel Investments, Ltd. (I) 39,830 $ 69,016
Check Point Software Technologies, Ltd. (I) 26,700 1,848,708
Partner Communications Company, Ltd. (I) 53,669 382,262
Teva Pharmaceutical Industries, Ltd. 30,933 1,664,819
3,964,805
Italy - 5.9%
A2A SpA 509,071 503,248
Buzzi Unicem SpA 8,776 119,311
Enel SpA 2,401,149 12,702,355
Eni SpA 621,604 14,748,316
Fiat SpA (I) 238,995 2,303,367
Finmeccanica SpA (I) 392,710 3,800,221
Intesa Sanpaolo SpA 9,172 27,688
Mediaset SpA (I) 278,210 1,060,496
Recordati SpA 11,323 185,189
Saipem SpA (I) 32,732 694,128
Snam SpA 83,578 461,501
Telecom Italia RSP 2,797,242 2,472,536
Telecom Italia SpA (I) 4,584,592 5,243,750
Terna Rete Elettrica Nazionale SpA 59,219 297,254
UniCredit SpA 3,213 25,241
44,644,601
Japan - 21.2%
Adastria Holdings Company, Ltd. 3,420 66,684
Aeon Company, Ltd. 62,800 625,708
Aisin Seiki Company, Ltd. 14,700 530,588
Asahi Glass Company, Ltd. 99,000 537,055
Asahi Kasei Corp. 72,000 585,528
Asatsu-DK, Inc. 1,900 47,658
Brother Industries, Ltd. 14,700 271,658
Canon, Inc. 150,000 4,880,386
Central Japan Railway Company, Ltd. 14,800 1,996,353
Chubu Electric Power Company, Inc. 27,300 313,415
COLOPL, Inc. (I) 800 26,349
CyberAgent, Inc. 52,500 1,843,658
Daihatsu Motor Company, Ltd. 22,400 355,453
Daiichi Sankyo Company, Ltd. 14,000 219,996
Daikyo, Inc. 63,000 117,905
Daito Trust Construction Company, Ltd. 18,200 2,152,197
Daiwabo Holdings Company, Ltd. 191,000 370,027
Dena Company, Ltd. 143,500 1,824,374
FANUC Corp. 7,100 1,284,054
Fuji Heavy Industries, Ltd. 59,884 1,983,758
Fuji Oil Company, Ltd. 24,600 363,436
FUJIFILM Holdings Corp. 39,700 1,219,865
Gree, Inc. (L) 247,400 1,686,895
Gunze, Ltd. 46,000 129,224
Hanwa Company, Ltd. 163,000 609,597
Haseko Corp. 218,400 1,687,723
Hitachi Chemical Company, Ltd. 12,800 227,355
Honda Motor Company, Ltd. 180,000 6,175,770
Hoya Corp. 29,700 997,333
Inpex Corp. 245,100 3,465,240
Isuzu Motors, Ltd. 14,000 197,993
ITOCHU Corp. 395,300 4,827,796
Japan Tobacco, Inc. 113,700 3,694,730
JFE Holdings, Inc. 69,900 1,396,356
JSR Corp. 13,000 226,874
JX Holdings, Inc. 798,600 3,682,152
K’s Holdings Corp. 53,000 1,579,111
Kao Corp. 11,650 454,614
Kawasaki Kisen Kaisha, Ltd. 994,000 2,114,265
KDDI Corp. 40,290 2,423,695
Keyence Corp. 3,500 1,519,652
Kinugawa Rubber Industrial Company, Ltd. 4,000 17,004
Kobe Steel, Ltd. 645,000 1,047,461
Kohnan Shoji Company, Ltd. 12,000 133,595
Kuraray Company, Ltd. 28,500 334,784
Kyocera Corp. 90,900 4,245,663
Leopalace21 Corp. (I) 248,500 1,365,050
Marubeni Corp. 524,476 3,588,934
Mazda Motor Corp. 25,400 638,924
Medipal Holdings Corp. 55,400 673,384
Mitsubishi Chemical Holdings Corp. 379,100 1,866,191
Mitsubishi Corp. 335,505 6,871,224
Mitsubishi Electric Corp. 109,000 1,453,099
Mitsubishi UFJ Financial Group, Inc. 361,600 2,037,874
Mitsui & Company, Ltd. 400,700 6,320,674
Mitsui Chemicals, Inc. 61,000 169,778
Mitsui Engineering &
       Shipbuilding Company, Ltd. 446,000 1,004,483
Mitsui Mining & Smelting Company, Ltd. 49,000 130,494
Mitsui O.S.K. Lines, Ltd. 433,000 1,383,489
Murata Manufacturing Company, Ltd. 16,300 1,852,745
Nidec Corp. 27,300 1,844,855
Nippon Electric Glass Company, Ltd. 73,000 354,881
Nippon Light Metal Holdings Company, Ltd. 140,000 201,690
Nippon Paper Industries Company, Ltd. 89,900 1,346,076
Nippon Steel & Sumitomo Metal Corp. 120,000 311,536
Nippon Telegraph & Telephone Corp. 116,700 7,237,067
Nippon Yusen KK 217,000 572,140
Nipro Corp. (L) 36,500 303,138
Nissan Motor Company, Ltd. 827,700 8,012,256
Nitori Holdings Company, Ltd. 26,700 1,654,205
North Pacific Bank Ltd. 39,200 154,392
NTT DOCOMO, Inc. 292,800 4,903,879
Orient Corp. (I) 369,500 744,534
Osaka Gas Company, Ltd. 69,000 277,068
Panasonic Corp. 140,400 1,673,339
Resona Holdings, Inc. 810,100 4,570,083
Ricoh Company, Ltd. 98,300 1,056,068
Round One Corp. 20,700 124,382
Ryohin Keikaku Company, Ltd. 12,500 1,490,321
Seiko Epson Corp. 42,900 2,067,047
Sekisui House, Ltd. 54,600 643,501
Showa Denko KK 185,000 242,783
SMC Corp. 3,300 909,945
Sojitz Corp. 1,509,600 2,369,979
Sumitomo Chemical Company, Ltd. 52,000 185,728
Sumitomo Corp. 357,800 3,949,078
Sumitomo Heavy Industries, Ltd. 69,000 388,631
Sumitomo Metal Mining Company, Ltd. 92,000 1,294,785
Sumitomo Mitsui Company, Ltd. (I) 44,600 53,687
Sumitomo Mitsui Financial Group, Inc. 28,300 1,153,068
Sumitomo Rubber Industries, Ltd. 20,200   287,346
Taiheiyo Cement Corp. 203,000 765,638
Taisei Corp. 176,000 992,938
Takeda Pharmaceutical Company, Ltd. 83,011 3,608,686
TDK Corp. 3,200   179,009
The Daiei, Inc. (I) 35,600 40,634
The Yokohama Rubber Company, Ltd. 23,000 199,301
Tokyo Electric Power Company, Inc. (I) 737,000 2,580,458
TonenGeneral Sekiyu KK 60,867 532,418
Tosoh Corp. 177,000 718,144
Toyota Tsusho Corp. 128,200 3,122,823

The accompanying notes are an integral part of the financial statements. 102


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

International Core Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Japan (continued)
Ube Industries, Ltd. 143,000 $ 228,033
UNY Group Holdings Company, Ltd. 174,400 926,930
West Japan Railway Company 15,600 698,144
Yamada Denki Company, Ltd. (L) 907,000 2,647,380
161,465,354
Luxembourg - 0.4%
ArcelorMittal 198,904 2,721,438
Macau - 0.1%    
Sands China, Ltd. 166,400 868,076
Netherlands - 6.3%
Aegon NV 278,870 2,296,273
Corbion NV 31,560 464,190
Delta Lloyd NV 42,149 1,015,595
Fugro NV 11,906 359,484
Heineken NV 22,371 1,670,756
ING Groep NV (I) 61,331 871,772
Koninklijke Ahold NV 178,580   2,888,650
Koninklijke BAM Groep NV 129,606 383,407
Koninklijke Boskalis Westinster NV 4,459 250,771
Koninklijke DSM NV 8,841 545,123
Koninklijke KPN NV (I) 1,128,913 3,614,356
Nutreco NV 3,432 124,719
PostNL NV (I) 331,387 1,427,954
Royal Dutch Shell PLC, B Shares 292,512 11,564,163
Royal Dutch Shell PLC, Class A 535,325 20,460,342
SNS REAAL NV (I) 69,081 0
Wolters Kluwer NV 8,863 236,353
48,173,908
New Zealand - 0.0%
Chorus, Ltd. (I) 125,485 177,432
Norway - 2.2%
Orkla ASA 17,197 155,442
Statoil ASA 347,957 9,473,399
Telenor ASA 97,817 2,146,836
TGS-NOPEC Geophysical Company ASA 44,948 1,144,635
Yara International ASA 72,632 3,647,805
16,568,117
Portugal - 0.4%
EDP - Energias de Portugal SA 757,935 3,305,091
Portugal Telecom SGPS SA 5,769 12,133
3,317,224
Singapore - 0.2%
Golden Agri-Resources, Ltd. 3,822,000 1,544,158
Spain - 7.0%
ACS Actividades de Construccion
       y Servicios SA 78,201 2,997,406
Banco Bilbao Vizcaya Argentaria SA 131,113 1,578,006
Banco Santander SA 465,966 4,460,984
Enagas SA 45,941 1,477,417
Endesa SA 4,169 164,642
Ferrovial SA 44,140 853,957
Gas Natural SDG SA 124,874 3,673,379
Iberdrola SA 1,628,318 11,639,047
Indra Sistemas SA 12,482 174,760
Obrascon Huarte Lain SA 5,626 187,779
Red Electrica Corp. SA 2,912 252,056
Repsol SA 208,517 4,946,872
Telefonica SA 1,343,643 20,751,486
53,157,791
Sweden - 2.0%
Husqvarna AB, B Shares 18,193 128,269
Investor AB, B Shares 41,910 1,475,636
NCC AB, B Shares 25,869 856,295
Sandvik AB 36,598 411,044
Securitas AB, Series B 16,501 182,766
Skanska AB, Series B 48,574 1,001,753
SSAB AB, Series A (I) 35,850 306,347
Tele2 AB, B Shares 17,089 205,691
Telefonaktiebolaget LM Ericsson, B Shares 378,356 4,770,639
TeliaSonera AB 609,576 4,203,726
Volvo AB, Series B 142,508 1,541,779
15,083,945
Switzerland - 1.6%
ABB, Ltd. (I) 44,798 1,002,112
Actelion, Ltd. (I) 16,606 1,944,993
Holcim, Ltd. (I) 43,897 3,193,580
Novartis AG 893 84,092
Swisscom AG 1,992 1,129,131
Transocean, Ltd. (L) 39,914 1,283,798
Zurich Insurance Group AG (I) 11,332 3,372,434
12,010,140
United Kingdom - 10.0%
Amlin PLC 26,409 185,299
Anglo American PLC 53,344 1,189,666
AstraZeneca PLC 281,652 20,183,973
Aviva PLC 198,753 1,681,465
BAE Systems PLC 488,005 3,714,534
Balfour Beatty PLC 60,290 183,650
BG Group PLC 58,171 1,073,885
BP PLC 2,544,329 18,612,618
BT Group PLC 359,021 2,202,238
Carillion PLC 41,601 204,622
Centrica PLC 380,163 1,894,712
Direct Line Insurance Group PLC 39,861 189,714
GlaxoSmithKline PLC 34,767 794,222
Home Retail Group PLC 419,459 1,129,709
J Sainsbury PLC 72,133 293,322
Kingfisher PLC 66,390 347,211
Ladbrokes PLC 50,363 105,273
Lancashire Holdings, Ltd. 5,964 61,793
Lloyds Banking Group PLC (I) 1,473,721 1,833,408
Man Group PLC 152,579 292,553
Marks & Spencer Group PLC 97,908 640,171
Next PLC 18,382 1,967,517
Pearson PLC 37,187 746,837
Prudential PLC 75,043 1,668,306
Rio Tinto PLC 57,981 2,841,060
RSA Insurance Group PLC (I) 35,071 274,965
Serco Group PLC 24,369 113,145
SSE PLC 15,708 393,334
Subsea 7 SA 28,686 409,939
Tesco PLC 949,439 2,836,221
Trinity Mirror PLC (I) 89,689 244,931
Unilever NV 12,092 479,873
Unilever PLC 19,456 814,387
Vodafone Group PLC 1,751,327 5,771,013
WM Morrison Supermarkets PLC 285,408 776,590
76,152,156
United States - 0.3%
Catamaran Corp. 47,700 2,010,555
TOTAL COMMON STOCKS (Cost $723,285,408) $ 736,734,915

The accompanying notes are an integral part of the financial statements. 103


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

International Core Trust (continued)

Shares or
Principal
Amount       Value
PREFERRED SECURITIES - 2.0%
Germany - 2.0%
Porsche Automobil Holding SE 50,349 4,016,476
Volkswagen AG 53,824 11,115,087
15,131,563
TOTAL PREFERRED SECURITIES (Cost $16,659,935) $ 15,131,563
 
RIGHTS - 0.0%
Banco Bilbao Vizcaya Argentaria SA
       (Expiration Date: 10/17/2014) (I)(N) 131,113 13,083
Fiat SpA (Expiration Date: 10/6/14; Strike
       Price: EUR 7.73) (I) 238,995 0
TOTAL RIGHTS (Cost $13,307) $ 13,083
 
WARRANTS - 0.1%
Peugeot SA (Expiration Date: 04/29/2017;
       Strike Price: EUR 6.43) (I) 297,806 557,445
Sun Hung Kai Properties, Ltd. (Expiration
       Date: 04/22/2016; Strike Price:
       HKD 98.60) (I) 30,583 51,124
TOTAL WARRANTS (Cost $328,432) $ 608,569
 
SECURITIES LENDING COLLATERAL - 3.0%
John Hancock Collateral
       Investment Trust, 0.1178% (W)(Y) 2,267,754 22,693,637
TOTAL SECURITIES LENDING  
COLLATERAL (Cost $22,693,219) $ 22,693,637
 
SHORT-TERM INVESTMENTS - 0.8%
Money market funds - 0.8%
State Street Institutional Treasury Money

       Market Fund, 0.0000% (Y)

 6,039,035 6,039,035
TOTAL SHORT-TERM INVESTMENTS (Cost $6,039,035) $ 6,039,035
Total Investments (International Core Trust)
       (Cost $769,019,336) - 102.8%   $ 781,220,802
Other assets and liabilities, net - (2.8%) (20,974,274 )
TOTAL NET ASSETS - 100.0% $ 760,246,528

International Equity Index Trust B

Shares or
Principal
Amount       Value
COMMON STOCKS - 96.1%
Australia - 5.4%
AGL Energy, Ltd. 22,135 $ 262,210
ALS, Ltd. 15,977 73,520
Alumina, Ltd. (I) 97,775 144,821
Amcor, Ltd. 47,059 466,127
AMP, Ltd. 110,833 528,644
APA Group, Ltd. 34,684   225,644
Asciano, Ltd. 34,768 183,788
ASX, Ltd. 6,730 211,071
Aurizon Holdings, Ltd. 67,567 267,644
AusNet Services 83,547 99,659
Australia & New Zealand Banking Group, Ltd. 96,275 2,602,524
Bank of Queensland, Ltd. 13,420 136,590
Bendigo and Adelaide Bank, Ltd. 17,290 180,335
BHP Billiton PLC 74,597 2,063,398
BHP Billiton, Ltd. 112,851 3,326,112
Boral, Ltd. 30,626 133,220
Brambles, Ltd. 58,198 484,134
Caltex Australia, Ltd. 5,216 127,678
CFS Retail Property Trust Group 71,419 124,686
Coca-Cola Amatil, Ltd. 24,332 186,793
Cochlear, Ltd. 2,020 122,843
Commonwealth Bank of Australia 55,836 3,676,387
Computershare, Ltd. 16,916 179,878
Crown Resorts, Ltd. 14,609 176,405
CSL, Ltd. 17,092 1,108,002
Dexus Property Group 183,993 178,646
Federation Centres, Ltd. 48,148 108,622
Flight Centre Travel Group, Ltd. 2,493 93,248
Fortescue Metals Group, Ltd. 49,386 150,036
Goodman Group 62,432 282,145
Harvey Norman Holding, Ltd. 15,159 48,130
Iluka Resources, Ltd. 17,126 117,796
Incitec Pivot, Ltd. 65,172 154,380
Insurance Australia Group, Ltd. 83,916 449,736
Leighton Holdings, Ltd. 3,702 62,618
Lend Lease Corp. 20,024 251,418
Macquarie Group, Ltd. 9,706 488,400
Metcash, Ltd. 26,132 60,181
Mirvac Group 125,759 189,175
National Australia Bank, Ltd. 82,475 2,345,888
Newcrest Mining, Ltd. (I) 29,796 273,825
Orica, Ltd. 13,101 216,215
Origin Energy, Ltd. 41,743 545,919
Qantas Airways, Ltd. (I) 44,750 54,360
QBE Insurance Group, Ltd. 44,109 449,197
Ramsay Health Care, Ltd. 4,156 182,117
Santos, Ltd. 32,872 393,171
Scentre Group (I) 188,799 543,214
Seek, Ltd. 11,910 168,513
Sonic Healthcare, Ltd. 13,653 209,502
Stockland 85,075 293,918
Suncorp Group, Ltd. 45,442 558,545
Sydney Airport 26,617 99,376
Tabcorp Holdings, Ltd. 33,525 106,015
Tatts Group, Ltd. 54,858 151,033
Telstra Corp., Ltd. 147,901 686,228
The GPT Group 50,956 172,565
Toll Holdings, Ltd. 25,442 125,495
Transurban Group 58,241 393,219
Treasury Wine Estates, Ltd. 24,526 90,664
Wesfarmers, Ltd. 39,864 1,469,060
Westfield Corp. (I) 69,727 454,345
Westpac Banking Corp. 109,178 3,065,004
Woodside Petroleum, Ltd. 23,280 826,618
Woolworths, Ltd. 44,313 1,326,911
WorleyParsons, Ltd. 7,028 94,150
35,021,711
Austria - 0.2%
Andritz AG 2,752 146,532
Erste Group Bank AG 8,613 196,656
IMMOFINANZ AG (I) 24,655 69,753
OMV AG 5,543 186,394
Raiffeisen Bank International AG 2,225 48,202
Telekom Austria AG 11,560 104,100
Vienna Insurance Group AG 1,321 59,506
Voestalpine AG 4,357 172,054
983,197

The accompanying notes are an integral part of the financial statements. 104


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

International Equity Index Trust B (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Belgium - 0.9%
Ageas 7,799 $ 258,572
Anheuser-Busch InBev NV 27,996   3,104,705
Belgacom SA 5,996 208,758
Colruyt SA (L) 2,769 122,012
Delhaize Group SA 3,906 271,455
Groupe Bruxelles Lambert SA 3,135 287,161
KBC Groep NV (I) 9,550 506,972
Solvay SA 2,305 354,010
Telenet Group Holding NV (I) 2,144 123,157
UCB SA 3,593 325,573
Umicore SA 4,660 203,166
5,765,541
Bermuda - 0.1%  
Seadrill, Ltd. (L) 13,637 364,359
Brazil - 1.3%
ALL - America Latina Logistica SA 18,200 47,289
AMBEV SA 161,130 1,055,878
Banco Bradesco SA 23,540 336,595
Banco do Brasil SA 29,813 308,148
Banco Santander Brasil SA 28,594 184,922
BB Seguridade Participacoes SA 24,400 320,980
BM&FBovespa SA 65,076 297,498
BR Malls Participacoes SA 15,410 121,694
BR Properties SA 7,500 39,833
Braskem SA, ADR (L) 1,584 20,861
BRF SA 23,920 569,135
CCR SA 32,600 223,482
Centrais Eletricas Brasileiras SA 6,700 17,956
Centrais Eletricas Brasileiras SA, B
       Shares, ADR 1,429 5,945
Centrais Eletricas Brasileiras SA, Ordinary
       Shares, ADR 2,381 6,429
CETIP SA - Mercados Organizados 8,211 101,642
Cia Brasileira de Distribuicao 628 27,387
Cia de Saneamento Basico do Estado de
       Sao Paulo 12,870 104,001
Cia de Saneamento de Minas Gerais-COPASA 2,500 31,662
Cia Siderurgica Nacional SA 16,100 57,224
Cia Siderurgica Nacional SA, ADR (L) 11,800 41,890
Cielo SA 26,100 426,514
Cosan SA Industria e Comercio 4,911 78,929
CPFL Energia SA 9,500 74,168
Cyrela Brazil Realty SA Empreendimentos
       e Participacoes 11,600 58,527
Duratex SA 12,463 46,028
EcoRodovias Infraestrutura e Logistica SA 7,200 35,474
EDP - Energias do Brasil SA 8,700 35,543
Embraer SA 10,800 106,555
Embraer SA, ADR 2,626 102,992
Estacio Participacoes SA 10,300 107,050
Fibria Celulose SA (I) 3,172 34,782
Fibria Celulose SA, ADR (I)(L) 6,862 75,482
Hypermarcas SA 13,608 97,734
JBS SA 15,473 57,840
Klabin SA 17,800 86,100
Kroton Educacional SA 47,780 300,217
Localiza Rent a Car SA 5,576 80,847
Lojas Renner SA 4,700 136,483
Multiplan Empreendimentos Imobiliarios SA 3,152 64,540
Natura Cosmeticos SA 6,500 98,200
Odontoprev SA 11,500 41,814
Oi SA, ADR 11,580 8,106
Petroleo Brasileiro SA 107,029 754,264
Porto Seguro SA 4,419 51,289
Raia Drogasil SA 8,100 69,294
Souza Cruz SA 14,400 115,894
Sul America SA 6,310 39,235
Telefonica Brasil SA, ADR (L) 6,017 118,415
Tim Participacoes SA 32,920 173,359
Totvs SA 4,500 68,444
Tractebel Energia SA 6,400 89,970
Ultrapar Participacoes SA 12,100 256,113
Usinas Siderurgicas de Minas
       Gerais SA, ADR (I) 800 2,085
Vale SA 47,000 515,555
WEG SA 10,530 122,906
8,451,199
Canada - 7.2%
Agnico-Eagle Mines, Ltd. 6,800 196,662
Agrium, Inc. (L) 5,500 488,933
Alimentation Couche Tard, Inc., Class B 14,500 463,632
AltaGas, Ltd. 4,300 181,568
ARC Resources, Ltd. (L) 11,900 313,983
ATCO, Ltd. 2,800 113,505
Athabasca Oil Corp. (I) 14,200 72,651
Bank of Montreal (L) 22,500 1,656,034
Barrick Gold Corp. 38,540 566,770
Baytex Energy Corp. (L) 4,700 177,727
BCE, Inc. (L) 10,024 428,639
BlackBerry, Ltd. (I) 19,900 198,298
Bombardier, Inc., Class B (L) 49,200 165,618
Brookfield Asset Management, Inc. 20,299 911,321
CAE, Inc. 11,300 137,019
Cameco Corp. (L) 16,400 289,356
Canadian Imperial Bank of Commerce (L) 13,700 1,230,486
Canadian National Railway Company 29,000 2,058,833
Canadian Natural Resources, Ltd. 38,960 1,513,594
Canadian Oil Sands, Ltd. 19,100 352,343
Canadian Pacific Railway, Ltd. 6,100 1,265,970
Canadian Tire Corp., Ltd. 3,000 307,380
Canadian Utilities, Ltd., Class A 4,800 167,665
Cenovus Energy, Inc. 26,800 721,000
CGI Group, Inc., Class A (I) 7,100 239,889
CI Financial Corp. 6,700 202,026
Crescent Point Energy Corp. (L) 13,800 498,054
Dollarama, Inc. 2,600 220,546
Eldorado Gold Corp. 25,100 169,208
Empire Company, Ltd. 1,000 69,548
Enbridge, Inc. (L) 28,700 1,373,818
Encana Corp. 24,900 528,704
Enerplus Corp. (L) 7,700 146,169
Fairfax Financial Holdings, Ltd. 800 358,437
Finning International, Inc. 7,200 203,088
First Capital Realty, Inc. 4,700 73,483
First Quantum Minerals, Ltd. 20,554 396,783
Fortis, Inc. (L) 6,900 213,293
Franco-Nevada Corp. 5,900 289,587
George Weston, Ltd. 2,100 165,495
Gildan Activewear, Inc. (L) 5,000 273,539
Goldcorp, Inc. 27,984 645,160
Great-West Lifeco, Inc. 11,700 336,494
H&R Real Estate Investment Trust 4,300 83,931
Husky Energy, Inc. (L) 13,800 378,778
IGM Financial, Inc. (L) 3,300 142,319
Imperial Oil, Ltd. 11,330 535,265

The accompanying notes are an integral part of the financial statements. 105


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

International Equity Index Trust B (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Canada (continued)
Industrial Alliance Insurance and
       Financial Services, Inc. 3,100 $ 128,351
Intact Financial Corp. 5,000 323,720
Inter Pipeline, Ltd. 11,200 363,516
Keyera Corp. 2,900 233,642
Kinross Gold Corp. (I) 43,729 145,249
Loblaw Companies, Ltd. 6,740 337,316
Magna International, Inc. 7,900 749,828
Manulife Financial Corp. (O) 63,400 1,219,372
MEG Energy Corp. (I) 6,100 187,257
Methanex Corp. 3,500 233,635
Metro, Inc. 3,800   254,136
National Bank of Canada 11,800 537,662
New Gold, Inc (I) 18,000 91,129
Onex Corp. 3,500 194,884
Open Text Corp. 4,800 265,512
Pembina Pipeline Corp. (L) 11,700 492,885
Pengrowth Energy Trust (L) 17,100 89,626
Penn West Petroleum, Ltd. (L) 19,010 128,832
Peyto Exploration & Development Corp. (L) 5,200 164,086
Potash Corp. of Saskatchewan, Inc. 30,800 1,066,498
Power Corp. of Canada (L) 12,000 333,015
Power Financial Corp. (L) 10,400 318,143
RioCan Real Estate Investment Trust 5,300 121,480
Rogers Communications, Inc., Class B (L) 14,100 527,766
Royal Bank of Canada 50,700 3,623,854
Saputo, Inc. 10,600 296,529
Shaw Communications, Inc., Class B 14,600 357,846
Silver Wheaton Corp. 13,900 277,268
SNC-Lavalin Group, Inc. 4,900 225,629
Sun Life Financial, Inc. (L) 21,500 779,410
Suncor Energy, Inc. 51,787 1,874,126
Talisman Energy, Inc. 39,600 342,626
Teck Resources, Ltd. 19,761 374,241
TELUS Corp. 7,600 259,497
The Bank of Nova Scotia 42,000 2,597,741
The Toronto-Dominion Bank (L) 64,700 3,192,972
Tim Hortons, Inc. 5,300 417,346
Tourmaline Oil Corp. (I) 4,900 217,141
TransAlta Corp. (L) 10,400 109,112
TransCanada Corp. (L) 24,200 1,246,356
Turquoise Hill Resources, Ltd. (I) 33,720 126,757
Vermilion Energy, Inc. (L) 4,000 243,511
Yamana Gold, Inc. (L) 29,844 179,072
46,771,175
Chile - 0.3%
Banco Santander Chile, ADR 13,061 288,517
Cencosud SA 61,383 181,330
Cia Cervecerias Unidas SA, ADR (L) 6,197 136,520
Corpbanca SA, ADR 2,999 57,641
Empresa Nacional de
       Electricidad SA, ADR (L) 6,770 297,609
Enersis SA, ADR 26,429 417,050
Latam Airlines Group SA, ADR (L)(I) 11,197 127,310
Sociedad Quimica y Minera de
       Chile SA, ADR (L) 4,454 116,428
Vina Concha y Toro SA, ADR 2,105 83,653
1,706,058
China - 3.1%
AAC Technologies Holdings, Inc. 27,342 158,425
Agile Property Holdings, Ltd. 68,589 42,114
Agricultural Bank of China, Ltd., H Shares 807,000 357,176
Air China, Ltd., H Shares 84,534 53,537
Aluminum Corp. of China, Ltd., H Shares (I) 185,220 75,355
Anhui Conch Cement Company, Ltd.,
       H Shares (L) 56,790 180,502
ANTA Sports Products, Ltd. 17,000 34,371
Bank of China, Ltd., H Shares 2,759,563 1,232,688
Bank of Communications Company, Ltd.,
       H Shares 337,527 236,002
BBMG Corp., H Shares 22,000 15,177
Beijing Capital International Airport
       Company, Ltd., H Shares 134,789 102,786
Byd Company, Ltd., H Shares 24,105 159,886
China BlueChemical, Ltd., H Shares 124,000 53,786
China Cinda Asset Management
       Company, Ltd., H Shares (I) 149,000 65,502
China CITIC Bank Corp., Ltd., H Shares 310,800 188,296
China Coal Energy Company, Ltd.,
       H Shares (L) 179,000 104,501
China Communications Construction
       Company, Ltd., H Shares 200,335 144,568
China Communications Services Corp., Ltd.,
       H Shares 129,600 59,905
China Construction Bank Corp., H Shares 2,567,914 1,799,152
China COSCO Holdings Company, Ltd.,
       H Shares (I) 115,631 47,943
China Life Insurance Company, Ltd., H Shares 282,624 785,574
China Longyuan Power Group Corp., H Shares 99,000 96,624
China Mengniu Dairy Company, Ltd. 44,502 182,557
China Merchants Bank Company, Ltd.,
       H Shares 196,323 335,164
China Minsheng Banking Corp., Ltd., H Shares 253,080 231,540
China National Building Material
       Company, Ltd., H Shares 116,000 105,279
China Oilfield Services, Ltd., H Shares 56,000 147,543
China Pacific Insurance Group Company, Ltd.,
       H Shares 103,500 363,669
China Petroleum & Chemical Corp., H Shares 881,361 770,876
China Railway Construction Corp., H Shares 113,000 102,400
China Railway Group, Ltd., H Shares 179,000 94,791
China Shenhua Energy Company, Ltd.,
       H Shares 127,500 354,909
China Shipping Container Lines Company, Ltd.,
       H Shares (I) 145,123 38,618
China Telecom Corp., Ltd., H Shares 481,604 295,216
CITIC Securities Company, Ltd., H Shares 11,000 25,397
CNOOC, Ltd. 621,258 1,069,794
Country Garden Holdings Company, Ltd. 222,726 84,007
CSR Corp., Ltd., H Shares 91,000 79,994
Datang International Power Generation
       Company, Ltd., H Shares 220,864 115,537
Dongfeng Motor Group Company, Ltd.,
       H Shares 123,220 202,035
ENN Energy Holdings, Ltd. 26,000 170,108
Evergrande Real Estate Group, Ltd. (L) 232,959 86,912
Fosun International, Ltd. 60,000 71,864
Geely Automobile Holdings, Ltd. 75,000 31,366
Golden Eagle Retail Group, Ltd. 36,000 41,862
GOME Electrical Appliances Holdings, Ltd. 386,127 62,995
Great Wall Motor Company, Ltd., H Shares 24,000 93,011
Guangzhou Automobile Group Company, Ltd.,
       H Shares 101,650 98,081
Guangzhou R&F Properties Company, Ltd.,
       H Shares 43,600 44,011

The accompanying notes are an integral part of the financial statements. 106


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

International Equity Index Trust B (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
China (continued)
Hengan International Group Company, Ltd. 25,000 $ 245,623
Huaneng Power International, Inc., H Shares 149,436 162,958
Industrial & Commercial Bank of China, Ltd.,
       H Shares 2,605,735   1,625,237
Jiangsu Expressway Company, Ltd., H Shares 81,145   85,254
Jiangxi Copper Company, Ltd., H Shares 54,075 89,499
Lenovo Group, Ltd. 257,436 383,449
Longfor Properties Company, Ltd. 53,600 61,378
PetroChina Company, Ltd., H Shares 734,261 941,068
PICC Property & Casualty Company, Ltd.,
       H Shares 115,819 205,443
Ping An Insurance Group Company of
       China, Ltd., H Shares 65,645 493,373
Shandong Weigao Group Medical Polymer
       Company, Ltd., H Shares 80,000 79,222
Shanghai Electric Group Company, Ltd.,
       H Shares 144,864 76,842
Shui On Land, Ltd. 188,275 42,195
Sino-Ocean Land Holdings, Ltd. 177,213 92,962
Sinopec Shanghai Petrochemical
       Company, Ltd., H Shares 269,901 88,816
Sinopharm Group Company, Ltd., H Shares 30,000 109,417
SOHO China, Ltd. 140,000 101,266
Sun Art Retail Group, Ltd. 86,000 97,260
Tencent Holdings, Ltd. 181,000 2,688,878
Tingyi Cayman Islands Holding Corp. 76,000 199,656
Tsingtao Brewery Company, Ltd., H Shares 12,000 85,241
Want Want China Holdings, Ltd. 243,000 303,418
Weichai Power Company, Ltd., H Shares 19,680 71,132
Yangzijiang Shipbuilding Holdings, Ltd. 65,000 60,061
Yanzhou Coal Mining Company, Ltd., H Shares 85,990 70,564
Zhejiang Expressway Company, Ltd., H Shares 103,718 105,377
Zijin Mining Group Company, Ltd., H Shares 285,469 70,182
Zoomlion Heavy Industry Science and
       Technology Company, Ltd., H Shares 33,000 19,246
ZTE Corp., H Shares 40,406 89,827
20,038,250
Colombia - 0.2%
Bancolombia SA, ADR (L) 18,325 1,039,394
Ecopetrol SA, ADR (L) 8,500 265,795
Pacific Rubiales Energy Corp. 11,600 194,516
1,499,705
Czech Republic - 0.1%
CEZ AS 6,817 207,244
Komercni Banka AS 688 163,645
Telefonica Czech Republic AS 2,389 34,352
405,241
Denmark - 1.1%
A.P. Moeller - Maersk A/S, Series A 120 276,807
A.P. Moeller - Maersk A/S, Series B 245 580,367
Carlsberg A/S, Class B 4,179 371,148
Coloplast A/S 4,165 348,311
Danske Bank A/S 24,066 652,375
DSV A/S 7,635 214,685
Novo Nordisk A/S 69,778 3,322,255
Novozymes A/S, B Shares 8,960 387,749
Pandora A/S 4,127 322,223
TDC A/S 17,500 132,575
Tryg A/S 900 93,370
Vestas Wind Systems A/S (I) 8,020 312,681
William Demant Holdings A/S (I) 1,000 76,650
7,091,196
Egypt - 0.0%
Commercial International Bank 9,837 68,960
Orascom Telecom Holding SAE (I) 23,717 16,618
Telecom Egypt 4,467 8,508
94,086
Finland - 0.6%
Elisa OYJ, Class A 6,060 160,538
Fortum OYJ 16,798 409,568
Kone OYJ 11,934 477,782
Metso OYJ 4,686 166,013
Neste Oil OYJ 4,388 90,306
Nokia OYJ 130,416 1,107,373
Nokian Renkaat OYJ 3,680 110,417
Orion OYJ, Class B 2,574 100,504
Sampo OYJ, Class A 15,692 758,730
Stora Enso OYJ, Series R 20,482 169,931
UPM-Kymmene OYJ 19,972 283,907
Wartsila OYJ Abp 6,451 287,452
4,122,521
France - 6.8%
Accor SA 5,695 252,221
Aeroports de Paris 1,056 126,447
Air Liquide SA 12,495 1,523,401
Airbus Group NV 20,438 1,284,741
Alcatel-Lucent (I) 102,269 315,429
Alstom SA (I) 8,387 287,599
Arkema SA 2,236 149,833
AtoS 2,022 146,425
AXA SA 63,672 1,568,404
BNP Paribas SA 36,324 2,410,758
Bollore Sa 195 110,583
Bouygues SA 6,726 217,481
Bureau Veritas SA 8,832 195,196
Cap Gemini SA 5,485 393,349
Carrefour SA 21,189 654,411
Casino Guichard Perrachon SA 2,363 254,225
Christian Dior SA 2,157 361,349
Cie de Saint-Gobain 14,568 665,634
Cie Generale des Etablissements Michelin 6,997 659,053
CNP Assurances 6,491 122,182
Credit Agricole SA 37,788 569,598
Danone SA 19,789 1,325,188
Dassault Systemes SA 4,818 309,502
Edenred 6,590 162,384
Electricite de France SA 9,425 309,203
Essilor International SA 7,727 847,402
Eurazeo 1,380 99,239
Eutelsat Communications 5,655 182,461
Fonciere Des Regions 1,089 98,087
GDF Suez 49,010 1,229,193
Gecina SA 1,027 134,668
Groupe Eurotunnel SA 16,415 200,517
ICADE 923 77,939
Iliad SA 983 207,364
Imerys SA 1,144 84,332
JCDecaux SA 2,889 91,114
Kering 2,659 536,107
Klepierre 4,227 184,897
L’Oreal SA 8,445 1,339,333

The accompanying notes are an integral part of the financial statements. 107


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

International Equity Index Trust B (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
France (continued)
Lafarge SA 6,842 $ 492,394
Lagardere SCA 4,134   110,626
Legrand SA 9,501 493,705
LVMH Moet Hennessy Louis Vuitton SA 9,270 1,505,282
Natixis 36,204 249,081
Orange SA 67,652 1,009,544
Pernod Ricard SA 7,456 843,876
Peugeot SA (I) 13,635 174,469
Publicis Groupe SA 6,738 461,744
Remy Cointreau SA 868 62,517
Renault SA 6,573 475,489
Rexel SA 4,475 83,570
Safran SA 9,200   596,470
Sanofi 41,910 4,738,789
Schneider Electric SE 623 47,375
Schneider Electric SE (I) 18,034 1,383,612
SCOR SE 6,688 208,885
Societe BIC SA 1,262 162,680
Societe Generale SA 25,543 1,302,894
Sodexo 3,571 349,320
Suez Environnement Company 10,572 178,818
Technip SA 3,838 321,954
Thales SA 3,128 166,479
Total SA 75,310 4,876,631
Unibail-Rodamco SE 3,559 915,224
Valeo SA 2,773 308,121
Vallourec SA 3,769 173,449
Veolia Environnement SA 13,522 238,434
Vinci SA 16,793 974,512
Vivendi SA (I) 44,204 1,067,429
Wendel SA 1,458 165,232
Zodiac Aerospace 6,450 205,682
44,031,536
Germany - 5.7%
adidas AG 8,162 609,011
Allianz SE 16,123 2,602,765
Axel Springer AG 942 51,716
BASF SE 32,440 2,959,090
Bayer AG 29,207 4,063,812
Bayerische Motoren Werke AG 11,361 1,214,198
Beiersdorf AG 3,496 290,873
Brenntag AG 5,628 275,458
Celesio AG 2,960 98,276
Commerzbank AG (I) 37,619 558,609
Continental AG 4,045 766,233
Daimler AG 34,006 2,596,934
Deutsche Bank AG 49,093 1,714,205
Deutsche Boerse AG 7,628 512,225
Deutsche Lufthansa AG 9,293 145,920
Deutsche Post AG 32,401 1,032,784
Deutsche Telekom AG 107,215 1,622,866
Deutsche Wohnen AG 9,964 212,214
E.ON SE 64,361 1,175,339
Fraport AG Frankfurt Airport
       Services Worldwide 1,295 84,913
Fresenius Medical Care AG & Company KGaA 7,543 525,410
Fresenius SE & Company KGaA 13,818 682,180
GEA Group AG 6,518 283,166
Hannover Rueckversicherung AG 2,242 180,951
HeidelbergCement AG 5,140 338,318
Henkel AG & Company, KGaA 3,877 361,544
Hochtief AG 1,016 69,729
Hugo Boss AG 1,333 166,176
Infineon Technologies AG 39,273 404,234
K&S AG 6,360 179,412
Kabel Deutschland Holding AG 825 111,912
Lanxess AG 2,990 164,753
Linde AG 6,366 1,218,512
MAN SE 2,251 253,313
Merck KGaA 4,708 432,738
Metro AG (I) 4,547 149,119
Muenchener Rueckversicherungs AG 6,334 1,249,492
OSRAM Licht AG (I) 2,942 109,153
ProSiebenSat.1 Media AG 6,832 270,857
RWE AG 18,018 701,270
SAP SE 31,817 2,296,222
Siemens AG 28,005 3,332,372
Sky Deutschland AG (I) 16,112 136,194
Telefonica Deutschland Holding AG (I) 25,984 135,514
ThyssenKrupp AG (I) 13,959 364,436
United Internet AG 3,568 151,491
Volkswagen AG 1,068 220,670
37,076,579
Greece - 0.1%
Alpha Bank AE (I) 132,914 103,039
Eurobank Ergasias SA (I) 280,674 110,652
Hellenic
       Telecommunications Organization SA (I) 8,503 111,643
National Bank of Greece SA (I) 56,908 166,455
OPAP SA 8,113 106,387
Piraeus Bank SA (I) 74,373 125,885
724,061
Guernsey, Channel Islands - 0.0%
Friends Life Group, Ltd. 56,076 279,259
Hong Kong - 2.9%
AIA Group, Ltd. 416,800 2,150,997
ASM Pacific Technology, Ltd. 6,500 64,285
Bank of East Asia, Ltd. 47,604 193,131
Beijing Enterprises Holdings, Ltd. 19,786 170,009
Belle International Holdings, Ltd. 185,860 209,233
BOC Hong Kong Holdings, Ltd. 143,328 456,269
Brilliance China Automotive Holdings, Ltd. 94,000 163,787
Cathay Pacific Airways, Ltd. 31,782 58,473
Cheung Kong Holdings, Ltd. 49,000 805,416
Cheung Kong Infrastructure Holdings, Ltd. 18,772 131,676
China Agri-Industries Holdings, Ltd. 144,580 54,852
China Everbright International, Ltd. 86,000 113,492
China Everbright, Ltd. 56,216 105,134
China Gas Holdings, Ltd. 74,000 122,799
China Merchants Holdings
       International Company, Ltd. 57,133 176,457
China Mobile, Ltd. 213,530 2,496,049
China Overseas Land & Investment, Ltd. 142,882 366,317
China Resources Enterprises, Ltd. 49,145 116,332
China Resources Gas Group, Ltd. 18,000 48,706
China Resources Land, Ltd. 90,789 187,223
China Resources Power
       Holdings Company, Ltd. 67,867 182,858
China State Construction
       International Holdings, Ltd. 42,000 62,331
China Taiping Insurance
       Holdings Company, Ltd. (I) 50,000 108,287
China Unicom Hong Kong, Ltd. 165,982 248,930
CITIC, Ltd. 43,967 73,831
CLP Holdings, Ltd. 64,900 520,901

The accompanying notes are an integral part of the financial statements. 108


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

International Equity Index Trust B (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Hong Kong (continued)  
COSCO Pacific, Ltd. 88,157 $ 117,150
CSPC Pharmaceutical Group, Ltd. 62,000 51,574
First Pacific Company, Ltd. 92,250 95,095
Franshion Properties China, Ltd. 74,000 18,188
Galaxy Entertainment Group, Ltd. 78,000 452,870
GCL-Poly Energy Holdings, Ltd. (I) 161,000 59,428
Guangdong Investment, Ltd. 99,220 115,987
Hang Lung Properties, Ltd. 88,326 250,489
Hang Seng Bank, Ltd. 27,019 433,918
Henderson Land Development Company, Ltd. 36,765 238,010
HKT Trust and HKT, Ltd. 127,233 153,342
Hong Kong & China Gas Company, Ltd. 222,989 483,287
Hong Kong Exchanges & Clearing, Ltd. 38,972 839,827
Hutchison Whampoa, Ltd. 74,800 904,227
Hysan Development Company, Ltd. 24,415 112,650
Kerry Properties, Ltd. 21,438 71,595
Kingboard Chemical Holdings, Ltd. 29,732 59,033
Kunlun Energy Company, Ltd. 118,000 170,279
Lee & Man Paper Manufacturing, Ltd. 36,000 18,289
Li & Fung, Ltd. 211,600 240,161
MTR Corp., Ltd. 50,281 197,492
New World Development Company, Ltd. 132,978 154,912
Nine Dragons Paper Holdings, Ltd. 81,000 58,109
Noble Group, Ltd. 116,038 117,971
NWS Holdings, Ltd. 52,389 94,389
PCCW, Ltd. 181,876 114,390
Poly Property Group Company, Ltd. 61,000 23,427
Power Assets Holdings, Ltd. 49,082 434,454
Shanghai Industrial Holdings, Ltd. 33,930 100,458
Shangri-La Asia, Ltd. 70,102 103,422
Shimao Property Holdings, Ltd. 64,000 129,117
Sino Land Company, Ltd. 128,552 199,151
SJM Holdings, Ltd. 83,000 158,022
Sun Hung Kai Properties, Ltd. 57,130 810,625
Swire Pacific, Ltd., Class A 22,163 285,861
Swire Properties, Ltd. 43,628 136,215
Techtronic Industries Company 49,000 141,612
The Link REIT 86,244 498,238
The Wharf Holdings, Ltd. 56,876 404,340
Wheelock and Company, Ltd. 35,000 167,178
Yue Yuen Industrial Holdings, Ltd. 20,067 61,008
18,663,565
Hungary - 0.0%
MOL Hungarian Oil and Gas PLC 1,549 75,853
OTP Bank PLC 9,034 152,962
228,815
India - 1.5%
Dr. Reddy’s Laboratories, Ltd., ADR (L) 6,254 328,648
GAIL India, Ltd., GDR 2,500 107,850
HDFC Bank, Ltd., ADR 18,425 858,237
ICICI Bank, Ltd., ADR 30,266 1,486,061
Infosys, Ltd., ADR (L) 42,587 2,576,088
Larsen & Toubro, Ltd., GDR (S) 18,019 425,457
Mahindra & Mahindra, Ltd., ADR 6,560 145,501
Ranbaxy Laboratories, Ltd., GDR (I) 8,490 86,938
Reliance Capital, Ltd., GDR (L)(S) 4,327 31,903
Reliance Communication, Ltd., GDR (S) 75,892 121,655
Reliance Industries, Ltd., GDR (S) 57,120 1,742,160
Reliance Infrastructure, Ltd., GDR (S) 1,788 50,848
Sesa Goa, Ltd., ADR 7,500 129,450
State Bank of India, GDR 2,612 206,348
Tata Motors, Ltd., ADR 17,219 752,642
Tata Steel, Ltd., GDR 11,000 81,455
Ultratech Cement, Ltd., GDR 1,026 43,719
Wipro, Ltd., ADR (L) 43,749 531,988
9,706,948
Indonesia - 0.6%
Adaro Energy Tbk PT 315,000 30,322
Astra Agro Lestari Tbk PT 17,500 33,003
Astra International Tbk PT 805,000 465,142
Bank Central Asia Tbk PT 490,000 525,868
Bank Danamon Indonesia Tbk PT 200,286 64,127
Bank Mandiri Persero Tbk PT 357,837 295,933
Bank Negara Indonesia Persero Tbk PT 276,500 124,944
Bank Rakyat Indonesia Persero Tbk PT 386,000 329,978
Berlian Laju Tanker Tbk PT (I) 128,000 0
Charoen Pokphand Indonesia Tbk PT 276,000 96,149
Gudang Garam Tbk PT 26,000 120,595
Indo Tambangraya Megah Tbk PT 16,000 34,034
Indocement Tunggal Prakarsa Tbk PT 53,500 94,849
Indofood Sukses Makmur Tbk PT 253,500 145,332
Indosat Tbk PT, ADR 20 292
Kalbe Farma Tbk PT 855,000 119,048
Perusahaan Gas Negara Persero Tbk PT 480,500 236,008
Semen Gresik Persero Tbk PT 111,000 140,239
Tambang Batubara Bukit Asam Persero Tbk PT 36,500 39,429
Telekomunikasi Indonesia Persero Tbk PT 1,932,500 462,934
Telekomunikasi Indonesia Tbk PT, ADR 179 8,610
Unilever Indonesia Tbk PT 66,500 172,903
United Tractors Tbk PT 92,779 151,511
3,691,250
Ireland - 0.6%
Bank of Ireland (I) 853,257 333,612
CRH PLC 26,991 612,974
Experian PLC 36,949 587,135
Irish Bank Resolution Corp., Ltd. (I) 38,483 0
James Hardie Industries, Ltd. 16,532 172,962
Kerry Group PLC 5,738 404,193
Ryanair Holdings PLC, ADR (I) 1,921 108,402
Shire PLC 19,967 1,722,784
3,942,062
Israel - 0.4%
Bank Hapoalim, Ltd. 44,835 252,800
Bank Leumi Le-Israel, Ltd. (I) 54,437 220,478
Bezeq The
       Israeli Telecommunication Corp., Ltd. 65,229 112,600
Delek Group, Ltd. 86 32,549
Israel Chemicals, Ltd. 16,931 121,623
Mizrahi Tefahot Bank, Ltd. 5,543 66,260
NICE-Systems, Ltd. 2,975 121,449
Teva Pharmaceutical Industries, Ltd. 29,726 1,599,858
The Israel Corp., Ltd. (I) 58 32,599
2,560,216
Italy - 1.6%
Assicurazioni Generali SpA 40,662 852,564
Atlantia SpA 11,994 294,641
Banca Monte dei Paschi di Siena SpA (I) 138,412 181,186
Banco Popolare SC (I) 12,613 183,688
Enel Green Power SpA 77,743 198,434
Enel SpA 229,224 1,212,621
Eni SpA 88,590 2,101,906
Exor SpA 3,038 117,445
Fiat SpA (I) 33,809 325,842

The accompanying notes are an integral part of the financial statements. 109


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

International Equity Index Trust B (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Italy (continued)
Finmeccanica SpA (I) 17,213 $ 166,569
Intesa Sanpaolo SpA 384,582 1,160,948
Intesa Sanpaolo SpA 42,950 114,486
Luxottica Group SpA 6,760 351,370
Mediobanca SpA (I) 18,489 157,966
Pirelli & C. SpA 10,659   146,977
Prysmian SpA 7,382 136,588
Saipem SpA (I) 10,004 212,149
Snam SpA 62,699 346,212
Telecom Italia SpA (I) 379,537 434,106
Telecom Italia SpA 233,394 206,301
Terna Rete Elettrica Nazionale SpA 43,861 220,163
UniCredit SpA 157,251 1,235,346
Unione di Banche Italiane SCPA 27,462 229,525
10,587,033
Japan - 14.7%
ABC-Mart, Inc. 700 35,752
Acom Company, Ltd. (I) 22,800 76,272
Advantest Corp. 6,000 77,461
Aeon Company, Ltd. 22,200 221,190
AEON Credit Service Company, Ltd. 2,100 44,939
Aeon Mall Company, Ltd. 3,300 63,041
Air Water, Inc. 5,000 74,479
Aisin Seiki Company, Ltd. 6,300 227,395
Ajinomoto Company, Inc. 20,000 332,600
Alfresa Holdings Corp. 5,296 76,242
Amada Company, Ltd. 12,000 114,408
ANA Holdings, Inc. 54,000 125,525
Aozora Bank, Ltd. 49,000 165,689
Asahi Glass Company, Ltd. 41,000 222,417
Asahi Group Holdings, Ltd. 14,700 425,215
Asahi Kasei Corp. 46,000 374,087
Asics Corp. 5,900 133,067
Astellas Pharma, Inc. 75,100 1,118,507
Benesse Holdings, Inc. 2,400 78,739
Bridgestone Corp. 22,100 730,956
Brother Industries, Ltd. 9,200 170,017
Calbee, Inc. 3,600 117,663
Canon, Inc. 39,400 1,281,915
Casio Computer Company, Ltd. (L) 6,700 111,965
Central Japan Railway Company, Ltd. 5,000 674,444
Chiyoda Corp. 6,000 66,351
Chubu Electric Power Company, Inc. 21,100 242,237
Chugai Pharmaceutical Company, Ltd. 8,600 248,933
Citizen Holdings Company, Ltd. 8,800 57,785
Credit Saison Company, Ltd. 5,000 96,348
Dai Nippon Printing Company, Ltd. 22,000 220,753
Daicel Corp. 12,534 135,646
Daido Steel Company, Ltd. 9,000 35,874
Daihatsu Motor Company, Ltd. 8,000 126,947
Daiichi Sankyo Company, Ltd. 21,400 336,280
Daikin Industries, Ltd. 8,500 527,281
Daito Trust Construction Company, Ltd. 2,600 307,457
Daiwa House Industry Company, Ltd. 19,000 341,333
Daiwa Securities Group, Inc. 60,900 482,978
Dena Company, Ltd. (L) 3,500 44,497
Denso Corp. 17,200 793,544
Dentsu, Inc. 7,600 289,486
Don Quijote Company, Ltd. 2,600 149,207
East Japan Railway Company 11,500 861,381
Eisai Company, Ltd. 9,300 376,168
Electric Power Development Company, Ltd. 4,600 150,307
FamilyMart Company, Ltd. 1,700 64,878
FANUC Corp. 6,800 1,229,798
Fast Retailing Company, Ltd. 1,800 603,166
Fuji Electric Company, Ltd. 17,000 82,278
Fuji Heavy Industries, Ltd. 21,000 695,660
FUJIFILM Holdings Corp. 15,600 479,343
Fujitsu, Ltd. 70,000 430,820
Fukuoka Financial Group, Inc. 29,000 138,336
Gree, Inc. (L) 3,700 25,228
Gungho Online Entertainment, Inc. (L) 13,000 61,891
Hakuhodo DY Holdings, Inc. 9,900 100,221
Hamamatsu Photonics KK 2,700 128,289
Hankyu Hanshin Holdings, Inc. 43,000 250,391
Hino Motors, Ltd. 10,000 139,933
Hirose Electric Company, Ltd. 1,300 160,499
Hisamitsu Pharmaceutical Company, Inc. 2,400 86,188
Hitachi Chemical Company, Ltd. 3,700 65,720
Hitachi Construction Machinery Company, Ltd. 4,100 82,543
Hitachi High-Technologies Corp. 3,200 92,025
Hitachi Metals, Ltd. 5,000 90,123
Hitachi, Ltd. 166,000 1,268,245
Hokuhoku Financial Group, Inc. 53,000 103,891
Hokuriku Electric Power Company 6,300 82,762
Honda Motor Company, Ltd. 57,000 1,955,661
Hoya Corp. 16,000 537,284
Hulic Company, Ltd. 9,000 95,326
Ibiden Company, Ltd. 4,400 85,766
Idemitsu Kosan Company, Ltd. 2,800 59,472
IHI Corp. 44,000 228,023
Inpex Corp. 31,000 438,280
Isetan Mitsukoshi Holdings, Ltd. 12,219 159,024
Isuzu Motors, Ltd. 23,000 325,275
ITOCHU Corp. 53,200 649,731
Itochu Techno-Solutions Corp. 800 33,625
J Front Retailing Company, Ltd. 9,000 117,741
Japan Airlines Company, Ltd. 4,000 109,451
Japan Exchange Group, Inc. 10,000 237,364
Japan Prime Realty Investment Corp. 28 100,861
Japan Real Estate Investment Corp. 42 216,019
Japan Retail Fund Investment Corp. 75 151,177
Japan Tobacco, Inc. 38,300 1,244,575
JFE Holdings, Inc. 18,400 367,567
JGC Corp. 7,000 191,251
JSR Corp. 6,500 113,437
JTEKT Corp. 7,300 122,359
JX Holdings, Inc. 84,911 391,504
Kajima Corp. 33,000 157,961
Kamigumi Company, Ltd. 9,000 85,227
Kaneka Corp. 11,829 66,269
Kansai Paint Company, Ltd. 7,000 104,658
Kao Corp. 17,500 682,897
Kawasaki Heavy Industries, Ltd. 50,000 199,902
KDDI Corp. 19,800 1,191,093
Keikyu Corp. 18,000 150,259
Keio Corp. 20,000 147,782
Keisei Electric Railway Company, Ltd. 8,000 80,322
Keyence Corp. 1,599 694,264
Kikkoman Corp. 5,000 106,265
Kintetsu Corp. 62,000 208,574
Kirin Holdings Company, Ltd. 27,500 364,835
Kobe Steel, Ltd. 105,000 170,517
Koito Manufacturing Company, Ltd. 4,000 108,814
Komatsu, Ltd. 31,700 732,623
Konami Corp. 3,700 77,158

The accompanying notes are an integral part of the financial statements. 110


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

International Equity Index Trust B (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Japan (continued)
Konica Minolta, Inc. 20,000 $ 216,211
Kubota Corp. 40,000 633,335
Kuraray Company, Ltd. 13,200 155,058
Kurita Water Industries, Ltd. 4,400 98,150
Kyocera Corp. 11,600   541,801
Kyowa Hakko Kirin Company, Ltd. 9,473 116,521
Kyushu Electric Power Company, Inc. (I) 16,300 175,695
Lawson, Inc. 2,100 146,923
LIXIL Group Corp. 8,700 185,606
M3, Inc. 7,400   118,669
Mabuchi Motor Company, Ltd. 800 69,797
Makita Corp. 3,900 220,318
Marubeni Corp. 60,000 410,574
Marui Group Company, Ltd. 7,600 62,586
Maruichi Steel Tube, Ltd. 1,200 29,468
Mazda Motor Corp. 20,400 513,151
McDonald’s Holdings Company Japan, Ltd. (L) 2,600 64,295
Medipal Holdings Corp. 5,490 66,731
MEIJI Holdings Company, Ltd. 2,500 197,701
Miraca Holdings, Inc. 2,300 95,181
Mitsubishi Chemical Holdings Corp. 50,500 248,596
Mitsubishi Corp. 48,700 997,388
Mitsubishi Electric Corp. 67,000 893,189
Mitsubishi Estate Company, Ltd. 43,000 969,104
Mitsubishi Gas & Chemicals Company, Inc. 14,829 94,546
Mitsubishi Heavy Industries, Ltd. 112,000 721,038
Mitsubishi Logistics Corp. 5,943 85,387
Mitsubishi Materials Corp. 39,000 126,189
Mitsubishi Motors Corp. 17,000 206,210
Mitsubishi Tanabe Pharma Corp. 7,000 102,715
Mitsubishi UFJ Financial Group, Inc. 447,000 2,519,164
Mitsubishi UFJ Lease &
       Finance Company, Ltd. 17,600 92,045
Mitsui & Company, Ltd. 62,800 990,612
Mitsui Chemicals, Inc. 25,000 69,581
Mitsui Fudosan Company, Ltd. 31,000 951,341
Mitsui O.S.K. Lines, Ltd. 47,000 150,171
Mizuho Financial Group, Inc. 791,300 1,412,622
MS&AD Insurance Group Holdings 17,100 372,987
Murata Manufacturing Company, Ltd. 6,900 784,291
Nabtesco Corp. 3,900 93,427
Nagoya Railroad Company, Ltd. 30,000 120,323
Namco Bandai Holdings, Inc. 6,199 159,477
NEC Corp. 95,000 328,356
Nexon Company, Ltd. 4,100 33,813
NGK Insulators, Ltd. 9,000 214,530
NGK Spark Plug Company, Ltd. 5,000 147,124
NH Foods, Ltd. 5,238 111,217
NHK Spring Company, Ltd. 4,600 45,136
Nidec Corp. 7,000 473,040
Nikon Corp. 13,700 198,145
Nintendo Company, Ltd. 4,000 435,713
Nippon Building Fund, Inc. 48 252,754
Nippon Electric Glass Company, Ltd. 14,000 68,059
Nippon Express Company, Ltd. 30,000 125,649
Nippon Paint Company, Ltd. 6,000 135,347
Nippon Prologis REIT, Inc. (I) 60 139,495
Nippon Steel & Sumitomo Metal Corp. 269,000 698,360
Nippon Telegraph & Telephone Corp. 12,800 793,783
Nippon Yusen KK (L) 55,000 145,013
Nissan Motor Company, Ltd. 84,600 818,940
Nisshin Seifun Group, Inc. 7,480 73,997
Nissin Food Products Company, Ltd. 2,200 114,230
Nitori Holdings Company, Ltd. 2,100 130,106
Nitto Denko Corp. 6,000 328,537
NOK Corp. 3,800 87,236
Nomura Holdings, Inc. 125,400 746,048
Nomura Real Estate Holdings, Inc. 4,500 77,389
Nomura Research Institute, Ltd. 3,200 103,488
NSK, Ltd. 13,715 195,618
NTT Data Corp. 4,500 162,325
NTT DOCOMO, Inc. 55,200 924,502
NTT Urban Development Corp. 2,200 23,130
Obayashi Corp. 27,000 184,778
Odakyu Electric Railway Company, Ltd. 23,000 210,329
Oji Holdings Corp. 30,000 113,574
Olympus Corp. (I) 7,000 251,025
Omron Corp. 7,100 322,681
Ono Pharmaceutical Company, Ltd. 2,900 257,513
Oracle Corp. Japan 1,500 58,547
Oriental Land Company, Ltd. 1,800 340,158
ORIX Corp. 47,800 659,900
Osaka Gas Company, Ltd. 69,000 277,068
Otsuka Corp. 1,200 47,779
Otsuka Holdings Company, Ltd. 12,500 430,853
Panasonic Corp. 78,000 929,633
Park24 Company, Ltd. 5,000 79,787
Rakuten, Inc. 27,200 313,112
Resona Holdings, Inc. 71,500 403,359
Ricoh Company, Ltd. 24,000 257,840
Rinnai Corp. 1,200 99,561
Rohm Company, Ltd. 3,800 239,267
Sankyo Company, Ltd. 1,900 68,092
Sanrio Company, Ltd. (L) 1,700 49,279
Santen Pharmaceutical Company, Ltd. 2,800 156,803
SBI Holdings, Inc. 8,013 89,814
Secom Company, Ltd. 7,700 458,723
Sega Sammy Holdings, Inc. 6,900 111,097
Seiko Epson Corp. 4,700 226,460
Sekisui Chemical Company, Ltd. 17,000 195,380
Sekisui House, Ltd. 20,000 235,715
Seven & I Holdings Company, Ltd. 26,100 1,012,325
Seven Bank, Ltd. 20,400 83,137
Sharp Corp. (I) 41,000 116,635
Shikoku Electric Power Company, Inc. (I) 6,400 82,116
Shimadzu Corp. 9,000 77,970
Shimamura Company, Ltd. 700 64,353
Shimano, Inc. 2,600 316,273
Shimizu Corp. 20,000 157,821
Shin-Etsu Chemical Company, Ltd. 14,600 956,580
Shinsei Bank, Ltd. 69,000 148,100
Shionogi & Company, Ltd. 9,500 218,030
Shiseido Company, Ltd. 14,200 234,235
Showa Shell Sekiyu KK 6,845 65,304
SMC Corp. 2,000 551,482
SoftBank Corp. 33,700 2,353,907
Sompo Japan Nipponkoa Holdings, Inc. 11,500 278,974
Sony Corp. (I) 36,700 658,663
Sony Financial Holdings, Inc. 5,800 93,814
Stanley Electric Company, Ltd. 4,500 97,421
Sumitomo Chemical Company, Ltd. 49,000 175,013
Sumitomo Corp. 41,300 455,833
Sumitomo Dainippon Pharma Company, Ltd. 7,200 91,855
Sumitomo Electric Industries, Ltd. 26,500 392,301
Sumitomo Heavy Industries, Ltd. 20,010 112,703
Sumitomo Metal Mining Company, Ltd. 17,000 239,254

The accompanying notes are an integral part of the financial statements. 111


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

International Equity Index Trust B (continued)

Shares or  
Principal
Amount Value
COMMON STOCKS (continued)
Japan (continued)
Sumitomo Mitsui Financial Group, Inc. 43,800       $ 1,784,607
Sumitomo Mitsui Trust Holdings, Inc. 117,000 487,124
Sumitomo Realty &
       Development Company, Ltd. 13,000 463,158
Sumitomo Rubber Industries, Ltd. 7,100 100,998
Suntory Beverage & Food, Ltd. 5,000 177,058
Suruga Bank, Ltd. 6,000 119,712
Suzuken Company, Ltd. 2,400 69,140
Suzuki Motor Corp. 13,000 431,148
Sysmex Corp. 4,800 193,291
T&D Holdings, Inc. 23,300 299,401
Taiheiyo Cement Corp. 42,000 158,408
Taisei Corp. 37,000 208,743
Taisho Pharmaceutical Holdings Company, Ltd. 1,200 82,137
Taiyo Nippon Sanso Corp. 9,000 79,454
Takashimaya Company, Ltd. 11,181 93,524
Takeda Pharmaceutical Company, Ltd. 27,100 1,178,101
TDK Corp. 4,900 274,107
Teijin, Ltd. 32,000 77,320
Terumo Corp. 11,800 283,098
The Bank of Kyoto, Ltd. 13,000 108,026
The Bank of Yokohama, Ltd. 44,000 241,948
The Chiba Bank, Ltd. 31,000 215,649
The Chugoku Bank, Ltd. 6,000 88,120
The Chugoku Electric Power Company, Inc. 12,400 159,012
The Dai-ichi Life Insurance Company, Ltd. 31,300 464,951
The Gunma Bank, Ltd. 14,000 80,704
The Hachijuni Bank, Ltd. 13,000 78,126
The Hiroshima Bank, Ltd. 24,000 117,934
The Iyo Bank, Ltd. 10,000 101,232
The Joyo Bank, Ltd. 23,000 113,206
The Kansai Electric Power Company, Ltd. (I) 24,500 231,502
The Shizuoka Bank, Ltd. 22,000 226,520
The Yokohama Rubber Company, Ltd. 10,000 86,653
THK Company, Ltd. 4,000 99,676
Tobu Railway Company, Ltd. 40,000 201,127
Toho Company, Ltd. 4,567 103,183
Toho Gas Company, Ltd. 14,000 78,831
Tohoku Electric Power Company, Inc. 18,500 210,259
Tokio Marine Holdings, Inc. 23,500 729,148
Tokyo Electric Power Company, Inc. (I) 54,500 190,821
Tokyo Electron, Ltd. 5,800 378,016
Tokyo Gas Company, Ltd. 90,000 505,721
Tokyo Tatemono Company, Ltd. 15,000 121,543
Tokyu Corp. 44,000 288,369
Tokyu Fudosan Holdings Corp. 15,000 102,985
TonenGeneral Sekiyu KK 10,000 87,472
Toppan Printing Company, Ltd. 24,000 172,477
Toray Industries, Inc. 49,000 323,938
Toshiba Corp. 138,000 640,621
TOTO, Ltd. 9,000 99,014
Toyo Seikan Kaisha, Ltd. 4,800 59,506
Toyo Suisan Kaisha, Ltd. 4,000 132,821
Toyoda Gosei Company, Ltd. 2,466 48,140
Toyota Industries Corp. 6,100 295,104
Toyota Motor Corp. 95,700 5,630,906
Toyota Tsusho Corp. 7,900 192,436
Trend Micro, Inc. 4,000 135,533
Unicharm Corp. 12,900 294,009
United Urban Investment Corp. 85 130,461
USS Company, Ltd. 7,770 118,865
West Japan Railway Company 6,100 272,992
Yahoo Japan Corp. 52,400 199,170
Yakult Honsha Company, Ltd. 2,843 149,320
Yamada Denki Company, Ltd. 33,400 97,489
Yamaguchi Financial Group, Inc. 7,000 66,211
Yamaha Corp. 4,400 57,525
Yamaha Motor Company, Ltd. 8,100 158,718
Yamato Kogyo Company, Ltd. 2,300 76,772
Yamato Transport Company, Ltd. 12,800 238,350
Yamazaki Baking Company, Ltd. 4,000 51,482
Yaskawa Electric Corp. 9,000 122,307
Yokogawa Electric Corp. 7,686 101,057
95,035,166
Jersey, Channel Islands - 0.0%
Randgold Resources, Ltd. 3,461 234,628
Luxembourg - 0.3%
Altice SA (I) 2,177 115,488
ArcelorMittal 36,457 498,811
Millicom International Cellular SA 2,700 216,255
RTLGroup SA 1,422 121,760
SES SA 11,632 402,447
Tenaris SA 16,418 374,651
1,729,412
Macau - 0.1%
MGM China Holdings, Ltd. 35,912 103,022
Sands China, Ltd. 88,800 463,252
Wynn Macau, Ltd. 61,415 195,727
762,001
Malaysia - 0.8%
AirAsia BHD 21,700 16,723
Alliance Financial Group BHD 53,600 81,527
AMMB Holdings BHD 59,087 123,705
Axiata Group BHD 90,800 193,864
Berjaya Sports Toto BHD 11,542 13,420
British American Tobacco Malaysia BHD 4,300 92,275
Bumi Armada BHD 83,400 48,241
CIMB Group Holdings BHD 204,134 437,391
DiGi.Com BHD 110,800 197,620
Felda Global Ventures Holdings BHD 39,000 41,988
Gamuda BHD 62,000 91,116
Genting BHD 72,900 210,779
Genting Malaysia BHD 105,700 134,651
Genting Plantations BHD 15,000 45,280
Hong Leong Bank BHD 20,060 89,458
Hong Leong Financial Group BHD 5,600 30,012
IHH Healthcare BHD 71,800 111,246
IJM Corp. BHD 43,710 86,258
IOI Corp. BHD 114,466 167,824
IOI Properties Group BHD 57,232 45,679
Kuala Lumpur Kepong BHD 17,150 110,178
Lafarge Malayan Cement BHD 9,360 29,391
Malayan Banking BHD 176,741 536,557
Malaysia Airports Holdings BHD 34,111 77,944
Maxis BHD 67,200 132,765
MISC BHD 26,280 54,073
MMC Corp. BHD 53,600 38,940
Petronas Chemicals Group BHD 99,800 189,778
Petronas Dagangan BHD 12,200 74,381
Petronas Gas BHD 21,200 148,457
PPB Group BHD 17,700 76,471
Public Bank BHD 97,378 560,985
RHB Capital BHD 18,480 49,712
Sapurakencana Petroleum BHD 80,300 100,826

The accompanying notes are an integral part of the financial statements. 112


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

International Equity Index Trust B (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Malaysia (continued)
Sime Darby BHD 99,348       $ 277,461
Telekom Malaysia BHD 41,211 82,953
Tenaga Nasional BHD 97,450 367,994
UEM Sunrise BHD 36,187 20,054
UMW Holdings BHD 25,500 95,322
YTL Corp. BHD 153,792 78,746
YTL Power International BHD 51,383 25,671
5,387,716
Mexico - 1.1%
Alfa SAB de CV, Class A 97,680 336,013
America Movil SAB de CV, Series L 1,194,332 1,505,532
Arca Continental SAB de CV 7,500 51,487
Cemex SAB de CV (I) 435,030 566,846
Coca-Cola Femsa SAB de CV, Series L 15,312 154,391
Compartamos SAB de CV 28,000 59,938
Controladora Comercial Mexicana SAB de CV 20,600 77,167
El Puerto de Liverpool SAB de CV 4,600 53,194
Fibra Uno Administracion SA de CV 71,200 234,214
Fomento Economico Mexicano SAB de CV 69,820 642,081
Fresnillo PLC 7,504 92,035
Grupo Aeroportuario del Pacifico SAB
       de CV, Series B 18,400 124,014
Grupo Aeroportuario del Sureste SAB
       de CV, Class B 9,800 126,447
Grupo Bimbo SAB de CV, Series A 63,384 183,774
Grupo Carso SAB de CV, Series A1 17,777 103,825
Grupo Financiero Banorte SAB de CV, Series O 94,062 602,381
Grupo Financiero Inbursa SAB de CV, Series O 64,238 183,667
Grupo Financiero Santander Mexico
       SAB de CV 65,000 175,924
Grupo Mexico SAB de CV, Series B 132,866 446,465
Grupo Televisa SAB 91,626 621,847
Industrias Penoles SAB de CV 4,883 111,978
Kimberly-Clark de Mexico SAB de CV 56,178 132,555
Mexichem SAB de CV 31,640 131,738
Minera Frisco SAB de CV, Class A1 (I) 27,077 49,757
Promotora y Operadora de Infraestructura
       SAB de CV (I) 9,800 134,145
Wal-Mart de Mexico SAB de CV 199,088 501,037
7,402,452
Netherlands - 2.8%
Aegon NV 64,710 532,835
Akzo Nobel NV 9,466 647,675
ASML Holding NV 12,384 1,226,618
Corio NV 2,979 146,010
Delta Lloyd NV 4,778 115,128
Fugro NV 2,907 87,772
Gemalto NV (L) 2,994 274,907
Heineken Holding NV 4,171 275,389
Heineken NV 8,722 651,394
ING Groep NV (I) 134,847 1,916,745
Koninklijke Ahold NV 34,366 555,893
Koninklijke Boskalis Westinster NV 2,557 143,804
Koninklijke DSM NV 6,401 394,676
Koninklijke KPN NV (I) 114,399 366,263
Koninklijke Philips NV 34,071 1,083,451
Koninklijke Vopak NV 2,830 152,493
QIAGEN NV (I) 8,422 190,800
Randstad Holding NV 4,700 218,358
Royal Dutch Shell PLC, B Shares 84,643 3,346,274
Royal Dutch Shell PLC, Class A 135,157 5,165,756
TNT Express NV 12,234 77,179
Wolters Kluwer NV 11,636 310,301
Ziggo NV (I) 4,475 209,570
18,089,291
New Zealand - 0.1%
Auckland International Airport, Ltd. 23,440 70,420
Contact Energy, Ltd. 8,664 40,448
Fletcher Building, Ltd. 33,708 231,043
Spark New Zealand, Ltd. (L) 38,978 90,331
432,242
Norway - 0.5%
Aker Solutions ASA (I)(S) 7,375 73,466
Aker Solutions ASA 7,375 29,695
DNB ASA 34,358 642,979
Gjensidige Forsikring ASA 4,167 88,106
Norsk Hydro ASA 44,388 248,164
Orkla ASA 33,366 301,592
Statoil ASA 39,875 1,085,628
Telenor ASA 23,931 525,225
Yara International ASA 6,981 350,608
3,345,463
Peru - 0.1%
Compania de Minas Buenaventura SA, ADR 7,964 92,223
Credicorp, Ltd. 2,734 419,368
511,591
Philippines - 0.2%
Ayala Corp. 7,160 117,933
Ayala Land, Inc. 253,800 197,763
Bank of the Philippine Islands 29,885 65,271
BDO Unibank, Inc. 24,194 52,796
Energy Development Corp. 244,436 44,047
Globe Telecom, Inc. 970 35,085
Jollibee Foods Corp. 18,900 82,404
Metropolitan Bank & Trust Company 40,063 77,423
Philippine Long Distance Telephone Company 2,340 161,465
SM Investments Corp. 5,535 98,979
SM Prime Holdings, Inc. 241,744 94,152
Universal Robina Corp. 30,280 125,734
1,153,052
Poland - 0.3%
Bank Handlowy w Warszawie SA 1,164 43,835
Bank Millennium SA 12,341 32,671
Bank Pekao SA 4,928 288,128
Bank Zachodni WBK SA 1,033 122,935
Boryszew SA (I) 2,380 4,879
Cyfrowy Polsat SA 6,360 53,049
Enea SA 3,933 19,248
Eurocash SA 2,447 23,850
Grupa Lotos SA (I) 2,314 19,652
Jastrzebska Spolka Weglowa SA (I) 1,255 12,174
KGHM Polska Miedz SA 5,681 216,388
mBank 525 77,868
Orange Polska SA 26,179 91,918
PGE SA 26,654 168,392
Polski Koncern Naftowy Orlen SA 11,432 142,216
Polskie Gornictwo Naftowe i Gazownictwo SA 63,078 96,299
Powszechna Kasa Oszczednosci
       Bank Polski SA 30,479 364,057
Powszechny Zaklad Ubezpieczen SA (L) 2,300 333,567
Synthos SA 14,988 20,737

The accompanying notes are an integral part of the financial statements. 113


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

International Equity Index Trust B (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Poland (continued)
Tauron Polska Energia SA 37,474       $ 60,631
2,192,494
Portugal - 0.1%
Banco Espirito Santo SA (I) 85,383 2,989
EDP - Energias de Portugal SA 84,624 369,016
Galp Energia SGPS SA 7,057 114,693
Jeronimo Martins SGPS SA 7,332 80,683
567,381
Russia - 1.0%
Gazprom OAO, ADR 3,680 25,809
Gazprom OAO, ADR 251,662 1,756,601
Lukoil OAO, ADR 29,756 1,514,580
MMC Norilsk Nickel OJSC, ADR (I) 39,185 728,115
Mobile Telesystems OJSC, ADR 20,264 302,744
NovaTek OAO, GDR (I) 3,606 375,663
Rosneft OAO, GDR 39,131 228,000
Sberbank of Russia, ADR 40,000 314,720
Sberbank of Russia, ADR 34,900 275,893
Severstal OAO, GDR 4,250 42,415
Sistema JSFC, GDR 3,202 21,962
Surgutneftegas OAO, ADR 23,070 153,635
Surgutneftegas OAO, Class B, ADR 22,274 151,463
Tatneft OAO, ADR 7,986 280,794
Uralkali OSJC, GDR 6,000 106,500
VTB Bank OJSC, GDR (I)(L) 50,760 100,487
6,379,381
Singapore - 1.0%
Ascendas Real Estate Investment Trust 56,864 100,305
CapitaLand, Ltd. 89,999 225,470
CapitaMall Trust 90,402 135,292
City Developments, Ltd. 14,000 105,463
ComfortDelGro Corp., Ltd. 70,000 131,490
DBS Group Holdings, Ltd. 61,317 884,346
Genting Singapore PLC 226,200 202,021
Global Logistic Properties, Ltd. 108,000 229,242
Golden Agri-Resources, Ltd. 284,496 114,942
Hutchison Port Holdings Trust 215,400 150,664
Jardine Cycle and Carriage, Ltd. 4,547 152,811
Keppel Corp., Ltd. 49,969 411,013
Keppel Land, Ltd. 35,510 97,358
Oversea-Chinese Banking Corp., Ltd. 101,410 773,586
Sembcorp Industries, Ltd. 38,019 154,272
SembCorp Marine, Ltd. 36,999 108,342
Singapore Airlines, Ltd. 23,140 178,074
Singapore Exchange, Ltd. 37,000 209,484
Singapore Press Holdings, Ltd. (L) 59,500 195,814
Singapore Technologies Engineering, Ltd. 54,000 154,319
Singapore Telecommunications, Ltd. 279,840 833,001
StarHub, Ltd. 21,000 67,779
United Overseas Bank, Ltd. 44,650 782,747
UOL Group, Ltd. 24,873 128,747
Wilmar International, Ltd. 72,000 174,154
6,700,736
South Africa - 1.6%
African Bank Investments, Ltd. 52,291 1,437
African Rainbow Minerals, Ltd. 5,606 71,000
Anglo American Platinum, Ltd. (I) 2,632 85,182
AngloGold Ashanti, Ltd. (I) 14,430 174,428
Aspen Pharmacare Holdings, Ltd. 8,659 257,818
Assore, Ltd. 664 12,640
Barclays Africa Group, Ltd. 12,071 164,574
Bidvest Group, Ltd. 11,166 282,541
Coronation Fund Managers, Ltd. 8,138 69,603
Discovery, Ltd. 15,181 131,969
Exxaro Resources, Ltd. 4,891 55,495
FirstRand, Ltd. 118,126 449,511
Gold Fields, Ltd. 29,492 114,441
Growthpoint Properties, Ltd. 77,099 168,384
Harmony Gold Mining Company, Ltd. (I) 16,381 35,658
Impala Platinum Holdings, Ltd. (I) 22,733 174,904
Imperial Holdings, Ltd. 6,917 106,456
Investec PLC 19,237 161,525
Investec, Ltd. 7,953 66,660
Kumba Iron Ore, Ltd. 3,135 73,830
Liberty Holdings, Ltd. 4,754 51,870
Life Healthcare Group Holdings, Ltd. 40,397 159,252
Massmart Holdings, Ltd. 4,351 47,268
Mediclinic International, Ltd. 12,912 105,166
MMI Holdings, Ltd. 19,936 46,251
Mr. Price Group, Ltd. 8,969 168,437
MTN Group, Ltd. 59,164 1,247,365
Naspers, Ltd. 13,874 1,519,529
Nedbank Group, Ltd. 7,167 138,693
Netcare, Ltd. 36,217 101,236
Northam Platinum, Ltd. (I) 9,932 32,317
Pick n Pay Stores, Ltd. 7,147 33,348
PPC, Ltd. 27,421 71,754
Rand Merchant Insurance Holdings, Ltd. 31,391 98,485
Redefine Properties, Ltd. 113,653 97,844
Remgro, Ltd. 18,654 376,047
RMB Holdings, Ltd. 31,391 157,265
Sanlam, Ltd. 64,030 369,538
Sappi, Ltd. (I) 26,810 105,164
Sasol, Ltd. 19,396 1,051,962
Shoprite Holdings, Ltd. 16,492 204,196
Standard Bank Group, Ltd. 42,608 492,363
Steinhoff International Holdings, Ltd. 60,568 290,075
The Foschini Group, Ltd. 6,632 68,786
Tiger Brands, Ltd. 6,286 175,547
Truworths International, Ltd. 18,481 111,151
Vodacom Group, Ltd. 13,061 150,319
Woolworths Holdings, Ltd. 26,688 165,095
10,294,379
South Korea - 3.0%
Amorepacific Corp. 102 230,866
AMOREPACIFIC Group 77 85,228
BS Financial Group, Inc. 6,581 105,348
Celltrion, Inc. (I) 2,553 118,231
CJ CheilJedang Corp. 326 119,546
CJ Corp. 456 74,993
Coway Company, Ltd. 1,930 153,926
Daelim Industrial Company, Ltd. 877 62,711
Daewoo Engineering &
       Construction Company, Ltd. (I) 2,130 15,474
Daewoo International Corp. 1,626 57,795
Daewoo Securities Company, Ltd. (I) 7,159 72,765
Daewoo Shipbuilding & Marine
       Engineering Company, Ltd. 4,040 77,472
DGB Financial Group, Inc. 3,940 62,633
Dongbu Insurance Company, Ltd. 1,810 101,833
Doosan Corp. 163 15,975
Doosan Heavy Industries and
       Construction Company, Ltd. 2,030 50,044
Doosan Infracore Company, Ltd. (I) 4,470 46,933

The accompanying notes are an integral part of the financial statements. 114


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

International Equity Index Trust B (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
South Korea (continued)
E-Mart Company, Ltd. 817       $ 178,527
GS Engineering & Construction Corp. (I) 1,468 50,984
GS Holdings Corp. 2,038 77,761
Hana Financial Group, Inc. 9,912 360,767
Hankook Tire Company, Ltd. 3,008 146,567
Hanwha Chemical Corp. 2,217 28,731
Hanwha Corp. 2,040 56,821
Hanwha Life Insurance Company, Ltd. 8,120 54,603
Hotel Shilla Company, Ltd. 1,190 134,791
Hyosung Corp. 1,033 73,969
Hyundai Department Store Company, Ltd. 494 75,049
Hyundai Development Company 1,140 45,994
Hyundai Engineering &
       Construction Company, Ltd. 2,649 150,987
Hyundai Glovis Company, Ltd. 539 164,344
Hyundai Heavy Industries Company, Ltd. 1,587 206,213
Hyundai Marine & Fire
       Insurance Company, Ltd. 2,650 73,032
Hyundai Merchant Marine Company, Ltd. (I) 2,351 21,743
Hyundai Mipo Dockyard 513 60,086
Hyundai Mobis 2,332 567,729
Hyundai Motor Company 5,356 965,008
Hyundai Steel Company 2,189 153,644
Hyundai Wia Corp. 644 131,041
Industrial Bank of Korea 7,080 106,754
Kangwon Land, Inc. 4,000 135,522
KB Financial Group, Inc. 10,980 400,286
KB Financial Group, Inc., ADR 2,772 100,402
KCC Corp. 196 133,445
Kia Motors Corp. 8,934 453,749
Korea Aerospace Industries, Ltd. 1,710 65,974
Korea Electric Power Corp. 6,370 289,521
Korea Electric Power Corp., ADR 4,277 95,976
Korea Gas Corp. (I) 1,166 60,739
Korea Investment Holdings Company, Ltd. 1,170 61,329
Korea Zinc Company, Ltd. 339 124,977
Korean Air Lines Company, Ltd. (I) 917 31,222
KT Corp. 2,633 85,784
KT&G Corp. 3,640 325,758
Kumho Petrochemical Company, Ltd. 614 40,731
LG Chem, Ltd. 1,568 379,552
LG Corp. 3,654 265,636
LG Display Company, Ltd. (I) 7,650 244,465
LG Display Company, Ltd., ADR (I) 2,417 38,068
LG Electronics, Inc. 3,460 215,176
LG Household & Health Care, Ltd. 362 173,719
LG Innotek Company, Ltd. (I) 210 22,879
LG Uplus Corp. 6,602 77,217
Lotte Chemical Corp. 562 74,657
Lotte Confectionery Company, Ltd. 20 41,308
Lotte Shopping Company, Ltd. 410 122,683
LS Corp. 793 50,169
LS Industrial Systems Company, Ltd. 735 40,854
Mirae Asset Securities Company, Ltd. 875 36,805
NAVER Corp. 965 737,141
NCSoft Corp. 632 80,446
OCI Company, Ltd. (I) 650 79,976
Orion Corp. 143 118,473
POSCO 2,241 689,315
S-Oil Corp. 1,778 72,077
S1 Corp. 810 62,494
Samsung C&T Corp. 4,135 295,731
Samsung Card Company, Ltd. 1,490 73,657
Samsung Electro-Mechanics Company, Ltd. 2,318 108,583
Samsung Electronics Company, Ltd. 3,829 4,288,508
Samsung Engineering Company, Ltd. (I) 1,181 67,298
Samsung Fire & Marine
       Insurance Company, Ltd. 1,090 291,744
Samsung Heavy Industries Company, Ltd. 6,270 149,603
Samsung Life Insurance Company, Ltd. 2,331 234,075
Samsung SDI Company, Ltd. 1,793 207,641
Samsung Securities Company, Ltd. 2,498 104,263
Samsung Techwin Company, Ltd. 1,577 52,724
Shinhan Financial Group Company, Ltd., ADR 350 15,911
Shinhan Financial Group Company, Ltd. 14,125 650,267
Shinsegae Company, Ltd. 197 40,910
SK C&C Company, Ltd. 585 134,325
SK Holdings Company, Ltd. 1,019 182,161
SK Hynix, Inc. (I) 19,510 863,533
SK Innovation Company, Ltd. 2,274 174,441
SK Networks Company, Ltd. (I) 3,090 30,997
SK Telecom Company, Ltd. 257 70,699
Woori Finance Holdings Company, Ltd. (I) 12,174 150,174
Woori Investment & Securities Company, Ltd. 3,944 44,017
Yuhan Corp. 350 61,654
19,658,359
Spain - 2.5%
Abertis Infraestructuras SA 15,172 299,185
ACS Actividades de Construccion
       y Servicios SA 6,772 259,567
Amadeus IT Holding SA, A Shares 12,738 475,526
Banco Bilbao Vizcaya Argentaria SA 205,441 2,472,579
Banco de Sabadell SA 139,622 412,260
Banco Popular Espanol SA 61,074 372,509
Banco Santander SA 419,560 4,016,710
Bankia SA (I) 160,432 298,465
CaixaBank SA 38,111 231,734
CaixaBank SA 419 2,547
Distribuidora Internacional de Alimentacion SA 23,600 169,123
Enagas SA 6,236 200,544
Ferrovial SA 14,762 285,594
Gas Natural SDG SA 14,483 426,042
Grifols SA 4,281 174,947
Grifols SA, B Shares 427 15,125
Iberdrola SA 171,982 1,229,309
Inditex SA 37,987 1,048,582
Mapfre SA 30,375 107,356
Red Electrica Corp. SA 4,146 358,868
Repsol SA 32,491 770,819
Telefonica SA 142,636 2,202,898
Zardoya Otis SA 5,734 71,062
15,901,351
Sweden - 2.1%
Alfa Laval AB 10,314 219,747
Assa Abloy AB, Series B 11,407 586,178
Atlas Copco AB, Series A 25,624 731,148
Atlas Copco AB, Series B 13,732 354,886
Boliden AB 10,826 174,800
Electrolux AB 9,396 247,492
Elekta AB, B Shares (L) 15,376 151,135
Getinge AB, B Shares 6,512 163,499
Hennes & Mauritz AB, B Shares 33,066 1,367,278
Hexagon AB, B Shares 9,601 303,588
Husqvarna AB, B Shares 18,793 132,499
Industrivarden AB, C Shares 2,860 49,789

The accompanying notes are an integral part of the financial statements. 115


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

International Equity Index Trust B (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Sweden (continued)
Investment AB Kinnevik, B Shares 7,421       $ 267,605
Investor AB, B Shares 16,147 568,530
Lundin Petroleum AB (I) 8,518 143,992
Nordea Bank AB 100,775 1,306,387
Sandvik AB 40,462 454,442
Securitas AB, Series B 14,347 158,908
Skandinaviska Enskilda Banken AB, Series A 56,007 745,152
Skanska AB, Series B 14,150 291,819
SKF AB, B Shares 15,548 323,683
Svenska Cellulosa AB SCA, B Shares 19,945 473,915
Svenska Handelsbanken AB, Class A 18,485 865,681
Swedbank AB, Class A 32,393 812,271
Swedish Match AB 8,709 281,750
Tele2 AB, B Shares 12,690 152,743
Telefonaktiebolaget LM Ericsson, B Shares 105,801 1,334,030
TeliaSonera AB 82,426 568,422
Volvo AB, Series B 52,551 568,544
13,799,913
Switzerland - 6.9%
ABB, Ltd. (I) 76,786 1,717,670
Actelion, Ltd. (I) 3,508 410,878
Adecco SA (I) 5,213 352,404
Aryzta AG (I) 3,464 298,486
Baloise Holding AG 1,589 203,124
Barry Callebaut AG (I) 81 89,933
Cie Financiere Richemont SA 18,244 1,491,285
Coca-Cola HBC AG (I) 7,325 158,081
Credit Suisse Group AG (I) 52,067 1,440,468
EMS-Chemie Holding AG 400 165,519
Geberit AG 1,444 465,420
Givaudan SA (I) 319 508,485
Glencore Xstrata PLC (I) 371,649 2,058,318
Holcim, Ltd. (I) 8,405 611,478
Julius Baer Group, Ltd. (I) 8,521 380,780
Kuehne & Nagel International AG 2,068 260,575
Lindt & Spruengli AG 35 174,642
Lindt & Spruengli AG 4 237,076
Lonza Group AG (I) 1,729 208,337
Nestle SA 111,948 8,227,168
Novartis AG 79,810 7,515,577
Pargesa Holding SA 755 60,009
Partners Group Holding AG 751 197,388
Roche Holding AG 24,377 7,198,599
Schindler Holding AG,
       Participation Certificates 1,670 226,210
Schindler Holding AG, Registered Shares 806 107,469
SGS SA 194 401,377
Sika AG 91 314,648
Sonova Holding AG 1,693 269,749
STMicroelectronics NV (L) 24,208 186,903
Sulzer AG 981 120,298
Swiss Life Holding AG (I) 1,089 259,502
Swiss Prime Site AG (I) 2,297 170,426
Swiss Re AG (I) 12,928 1,028,840
Swisscom AG 890 504,481
Syngenta AG 3,188 1,009,467
The Swatch Group AG 1,748 152,710
The Swatch Group AG, BR Shares 1,109 525,552
Transocean, Ltd. (L) 14,101 453,546
UBS AG (I) 127,840 2,222,219
Wolseley PLC 9,747 510,538
Zurich Insurance Group AG (I) 5,119 1,523,428
44,419,063
Taiwan - 2.1%
Acer, Inc. (I) 53,424 37,522
Advanced Semiconductor Engineering, Inc. 215,933 252,221
Advantech Company, Ltd. 1,991 14,051
Asia Cement Corp. 36,863 47,084
Asustek Computer, Inc. 24,952 238,101
AU Optronics Corp. 163,827 68,940
Catcher Technology Company, Ltd. 22,184 205,463
Cathay Financial Holdings Company, Ltd. 301,901 490,705
Chang Hwa Commercial Bank 86,556 53,041
Cheng Shin Rubber Industry Company, Ltd. 77,680 171,324
China Airlines, Ltd. (I) 26,874 9,015
China Development Financial Holdings Corp. 213,153 65,382
China Motor Corp. 65 58
China Steel Corp. 438,388 374,590
Chunghwa Telecom Company, Ltd. 141,148 424,964
Compal Electronics, Inc. 79,764 59,672
CTBC Financial Holding Company, Ltd. 554,242 372,255
Delta Electronics, Inc. 67,331 425,348
E.Sun Financial Holding Company, Ltd. 65,547 39,744
Epistar Corp. 10,064 18,802
Eva Airways Corp. (I) 23,623 12,497
Evergreen Marine Corp Taiwan, Ltd. (I) 8,799 5,161
Far Eastern Department Stores Company, Ltd. 20,540 19,793
Far Eastern New Century Corp. 63,603 64,058
Far EasTone
       Telecommunications Company, Ltd. 69,159 132,592
First Financial Holding Company, Ltd. 123,903 74,576
Formosa Chemicals & Fibre Corp. 119,212 275,576
Formosa Petrochemical Corp. 24,720 59,949
Formosa Plastics Corp. 154,086 365,193
Formosa Taffeta Company, Ltd. 5,000 4,906
Foxconn Technology Company, Ltd. 15,208 37,577
Fubon Financial Holding Company, Ltd. 211,112 323,499
Hon Hai Precision Industry Company, Ltd. 457,542 1,441,138
Hotai Motor Company, Ltd. 9,000 122,463
HTC Corp. 26,997 117,004
Hua Nan Financial Holdings Company, Ltd. 80,813 47,139
Innolux Corp. 100,841 43,520
Inotera Memories, Inc. (I) 79,000 116,872
Inventec Corp. 25,899 16,844
Kinsus Interconnect Technology Corp. 1,035 3,842
Largan Precision Company, Ltd. 3,143 224,860
Lite-On Technology Corp. 39,234 56,431
MediaTek, Inc. 49,340 730,710
Mega Financial Holding Company, Ltd. 358,065 293,454
Nan Ya Plastics Corp. 176,992 387,451
Novatek Microelectronics Corp. 7,361 36,328
Pan-International Industrial 328 222
Pegatron Corp. 32,989 60,640
Pou Chen Corp. 36,641 40,706
Powertech Technology, Inc. (I) 13,149 23,774
President Chain Store Corp. 7,496 53,746
Quanta Computer, Inc. 92,771 235,485
Realtek Semiconductor Corp. 5,999 21,303
Shin Kong Financial Holding Company, Ltd. 102,847 31,175
Siliconware Precision Industries Company 54,855 75,336
SinoPac Financial Holdings Company, Ltd. 121,784 52,218
Synnex Technology International Corp. 23,741 32,780
Taishin Financial Holdings Company, Ltd. 87,836 41,110
Taiwan Cement Corp. 60,781 90,462

The accompanying notes are an integral part of the financial statements. 116


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

International Equity Index Trust B (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Taiwan (continued)
Taiwan Cooperative Financial
       Holding Company, Ltd. 55,108       $ 29,699
Taiwan Fertilizer Company, Ltd. 13,000 21,475
Taiwan Glass Industrial Corp. 11,254 9,314
Taiwan Mobile Company, Ltd. 62,257 188,784
Taiwan Semiconductor
       Manufacturing Company, Ltd. 858,227 3,416,710
Teco Electric & Machinery Company, Ltd. 16,000 16,430
TPK Holding Company, Ltd. 8,000 47,829
Transcend Information, Inc. 6,608 21,935
U-Ming Marine Transport Corp. 5,000 7,608
Uni-President Enterprises Corp. 172,584 299,334
Unimicron Technology Corp. 20,604 15,334
United Microelectronics Corp. 258,313 106,546
Walsin Lihwa Corp. (I) 28,000 9,195
Wistron Corp. 37,862 38,556
Ya Hsin Industrial Company, Ltd. (I) 36,000 0
Yang Ming Marine Transport Corp. (I) 3,348 1,457
Yuanta Financial Holdings Company, Ltd. 184,430 90,866
Yulon Motor Company, Ltd. 17,510 26,155
13,487,899
Thailand - 0.5%
Advanced Info Service PCL 48,400 335,852
Bangkok Bank PCL, Foreign Shares 34,900 225,704
Banpu PCL 55,000 50,039
BEC World PCL 46,019 66,704
Charoen Pokphand Foods PCL 136,200 127,064
CP ALL PCL 173,500 239,449
Glow Energy PCL 27,900 81,958
IRPC PCL 528,400 56,058
Kasikornbank PCL, Foreign Shares 61,800 444,831
Krung Thai Bank PCL 164,375 120,145
PTT Exploration & Production PCL 60,147 296,793
PTT Global Chemical PCL 65,273 122,796
PTT PCL, Foreign Shares 34,300 380,817
Siam Cement PCL, Foreign Shares 11,300 156,580
Siam Commercial Bank PCL 70,748 397,105
Thai Oil PCL 28,800 45,742
3,147,637
Turkey - 0.3%
Akbank TAS 67,697 220,569
Anadolu Efes Biracilik Ve Malt Sanayii AS 8,117 93,834
Arcelik AS 6,139 32,744
BIM Birlesik Magazalar AS 8,214 171,962
Coca-Cola Icecek AS 2,884 62,056
Emlak Konut Gayrimenkul Yatirim
       Ortakligi AS 17,803 18,640
Enka Insaat ve Sanayi AS 25,228 57,626
Eregli Demir ve Celik Fabrikalari TAS 30,186 56,067
Ford Otomotiv Sanayi AS 4,572 52,496
HACI Omer Sabanci Holding AS 31,762 133,809
KOC Holdings AS 25,423 117,503
Koza Altin Isletmeleri AS 1,847 13,759
TAV Havalimanlari Holding AS 4,656 37,383
Tupras Turkiye Petrol Rafinerileri AS 4,998 100,576
Turk Hava Yollari (I) 25,366 72,119
Turk Telekomunikasyon AS 22,064 58,320
Turkcell Iletisim Hizmetleri AS (I) 29,771 155,630
Turkiye Garanti Bankasi AS 86,216 303,029
Turkiye Halk Bankasi AS 25,911 155,882
Turkiye Is Bankasi, Class C 60,572 134,607
Turkiye Sise ve Cam Fabrikalari AS 33,126 41,978
Turkiye Vakiflar Bankasi Tao, Class D 22,351 41,441
Yapi ve Kredi Bankasi AS 35,813 70,321
2,202,351
United Kingdom - 12.9%
3i Group PLC 36,258 224,553
Aberdeen Asset Management PLC 35,216 227,196
Admiral Group PLC 7,053 146,270
Aggreko PLC 9,826 245,932
AMEC PLC 10,765 192,092
Anglo American PLC 48,446 1,080,432
Antofagasta PLC 15,103 175,742
ARM Holdings PLC 51,898 756,113
ASOS PLC (I) 1,980 71,958
Associated British Foods PLC 12,000 520,188
AstraZeneca PLC 44,269 3,172,441
Aviva PLC 103,474 875,398
Babcock International Group PLC 18,402 324,717
BAE Systems PLC 112,391 855,484
Barclays PLC 548,921 2,019,030
BG Group PLC 119,476 2,205,627
BP PLC 648,184 4,741,683
British American Tobacco PLC 66,303 3,736,212
British Land Company PLC 34,770 395,105
British Sky Broadcasting Group PLC 39,082 557,432
BT Group PLC 277,758 1,703,770
Bunzl PLC 11,962 311,246
Burberry Group PLC 16,791 409,569
Capita PLC 24,608 463,256
Centrica PLC 178,307 888,672
CNH Industrial NV 34,400 272,482
Cobham PLC 39,593 186,396
Compass Group PLC 59,446 958,817
Croda International PLC 5,115 169,620
Diageo PLC 88,081 2,540,443
Direct Line Insurance Group PLC 36,648 174,422
easyJet PLC 5,884 135,402
G4S PLC 56,956 230,953
GKN PLC 59,980 308,872
GlaxoSmithKline PLC 168,245 3,843,411
Hammerson PLC 26,287 244,035
Hargreaves Lansdown PLC 8,843 134,958
HSBC Holdings PLC 653,415 6,639,537
ICAP PLC 23,327 145,884
IMI PLC 10,620 211,189
Imperial Tobacco Group PLC 33,548 1,444,440
Inmarsat PLC 15,909 180,453
InterContinental Hotels Group PLC 8,905 343,388
International Consolidated
       Airlines Group SA PLC (I) 42,245 251,244
Intertek Group PLC 6,301 267,033
Intu Properties PLC 30,774 160,326
ITV PLC 141,502 475,117
J Sainsbury PLC 44,909 182,618
Johnson Matthey PLC 7,427 350,233
Kingfisher PLC 87,104 455,543
Land Securities Group PLC 29,076 488,194
Legal & General Group PLC 208,997 773,356
Lloyds Banking Group PLC (I) 2,004,757 2,494,053
London Stock Exchange Group PLC 7,813 235,776
Marks & Spencer Group PLC 60,423 395,075
Meggitt PLC 29,365 214,189
Melrose Industries PLC 43,393 173,686
National Grid PLC 130,372 1,874,084

The accompanying notes are an integral part of the financial statements. 117


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

International Equity Index Trust B (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
United Kingdom (continued)
Next PLC 5,452       $ 583,555  
Old Mutual PLC 171,915 504,271
Pearson PLC 30,043 603,362
Persimmon PLC (I) 11,241 241,879
Petrofac, Ltd. 10,236 171,515
Prudential PLC 89,572 1,991,305
Reckitt Benckiser Group PLC 22,660 1,959,130
Reed Elsevier NV 24,489 555,566
Reed Elsevier PLC 41,019 655,771
Rexam PLC 25,267 200,857
Rio Tinto PLC 44,561 2,183,482
Rio Tinto, Ltd. 15,286 796,035
Rolls-Royce Holdings PLC (I) 66,406 1,033,519
Royal Bank of Scotland Group PLC (I) 79,206 471,882
Royal Mail PLC 23,738 150,389
RSA Insurance Group PLC (I) 36,872 289,085
SABMiller PLC 33,836 1,875,119
Schroders PLC 3,956 152,745
Segro PLC 27,304 160,253
Severn Trent PLC 8,842 268,641
Smith & Nephew PLC 33,067 556,241
Smiths Group PLC 15,034 307,281
Sports Direct International PLC (I) 9,639 96,313
SSE PLC 35,532 889,734
Standard Chartered PLC 84,743 1,563,073
Standard Life PLC 86,554 579,144
Subsea 7 SA 11,603 165,813
Tate & Lyle PLC 18,516 176,492
Tesco PLC 289,494 864,794
The Sage Group PLC 40,707 240,444
The Weir Group PLC 7,289 294,368
Travis Perkins PLC 9,089 244,199
TUI Travel PLC 16,416 103,319
Tullow Oil PLC 34,473 359,419
Unilever NV 57,623 2,286,778
Unilever PLC 44,887 1,878,876
United Utilities Group PLC 23,943 312,763
Vodafone Group PLC 927,814 3,057,354
Whitbread PLC 6,679 448,801
William Hill PLC 32,018 191,340
WM Morrison Supermarkets PLC 81,859 222,737
WPP PLC 47,525 952,093
83,895,084
United States - 0.4%
Carnival PLC 6,738 268,308
Catamaran Corp. (I) 8,200 345,367
Southern Copper Corp. (L) 6,974 206,779
Thomson Reuters Corp. 12,977 472,755
Valeant Pharmaceuticals International, Inc. (I) 11,100 1,454,462
2,747,671
TOTAL COMMON STOCKS (Cost $481,329,202) $ 623,282,276
           
PREFERRED SECURITIES - 1.4%
Brazil - 0.9%
AES Tiete SA 4,500 39,618
Banco Bradesco SA 75,608 1,076,165
Banco do Estado do Rio Grande do Sul SA,
       B Shares 7,832 47,035
Bradespar SA 8,800 64,425
Braskem SA, A Shares 4,100 27,135
Centrais Eletricas Brasileiras SA, B Shares 4,300 17,743
Cia Brasileira de Distribuicao Grupo Pao
       de Acucar 2,538 110,790
Cia Energetica de Minas Gerais 26,542 162,543
Cia Energetica de Sao Paulo, B Shares 6,883 73,617
Cia Paranaense de Energia, B Shares 4,400 59,931
Gerdau SA 31,800 153,040
Itau Unibanco Holding SA 99,220 1,372,927
Itausa - Investimentos Itau SA 116,965 442,964
Lojas Americanas SA 19,570 111,052
Metalurgica Gerdau SA 10,700 61,855
Oi SA 30,670 21,802
Petroleo Brasileiro SA 150,651 1,113,380
Telefonica Brasil SA 5,054 99,934
Usinas Siderurgicas de Minas Gerais SA,
       A Shares (I) 10,150 26,414
Vale SA 71,900 698,512
5,780,882
Germany - 0.4%
Bayerische Motoren Werke AG 1,808 146,643
Fuchs Petrolub SE 3,112 117,643
Henkel AG & Company KGaA 6,587 655,751
Porsche Automobil Holding SE 5,618 448,163
Volkswagen AG 5,379 1,110,807
2,479,007
South Korea - 0.1%
Hyundai Motor Company, Ltd. 705 78,770
Hyundai Motor Company, Ltd., 2nd Preferred 1,197 136,077
LG Chem, Ltd. 162 25,195
Samsung Electronics Company, Ltd. 706 600,622
840,664
TOTAL PREFERRED SECURITIES (Cost $8,315,657) $ 9,100,553
 
RIGHTS - 0.0%
Agile Property Holdings, Ltd. (Strike Price:
       HDK 4.00) (I)(N) 13,718 $ 1,360
Banco Bilbao Vizcaya Argentaria SA
       (Expiration Date: 10/17/2014) (I)(N) 205,441 20,499
Banco Popular Espanol SA (Expiration
       Date: 10/27/2014) (I)(N) 61,074 849
Country Garden Holdings Company, Ltd.
       (Expiration Date: 10/03/2014; Strike Price:
       HKD 2.50) (I) 14,848 841
TOTAL RIGHTS (Cost $21,781) $ 23,549
 
SECURITIES LENDING COLLATERAL - 3.3%
John Hancock Collateral
       Investment Trust, 0.1178% (W)(Y) 2,154,950 $ 21,564,802
TOTAL SECURITIES LENDING
COLLATERAL (Cost $21,564,733) $ 21,564,802
 
SHORT-TERM INVESTMENTS - 1.4%
Money market funds - 1.4%
AIM Short-Term Investment Trust, STIC Prime
       Portfolio, Institutional Class, 0.0099% (Y) 9,022,395 9,022,395
TOTAL SHORT-TERM INVESTMENTS (Cost $9,022,395) $ 9,022,395
Total Investments (International Equity Index Trust B)
       (Cost $520,253,768) - 102.2% $ 662,993,575
Other assets and liabilities, net - (2.2%) (14,458,278 )
TOTAL NET ASSETS - 100.0% $ 648,535,297

The accompanying notes are an integral part of the financial statements. 118


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

International Growth Stock Trust

Shares or
Principal
Amount Value
COMMON STOCKS - 93.3%
Australia - 3.7%
Amcor, Ltd. 990,855       $ 9,814,570
Brambles, Ltd. 653,616 5,437,258
CSL, Ltd. 55,140 3,574,494
18,826,322
Belgium - 1.5%
Anheuser-Busch InBev NV 71,307 7,907,795
Brazil - 3.9%
Banco Bradesco SA, ADR 547,528 7,802,274
BM&FBovespa SA 1,756,500 8,029,919
BRF SA 179,946 4,281,505
20,113,698
Canada - 8.5%
Agrium, Inc. 46,541 4,137,347
Canadian National Railway Company 72,675 5,159,506
Cenovus Energy, Inc. 143,607 3,863,457
CGI Group, Inc., Class A (I) 227,599 7,689,938
Encana Corp. 330,077 7,008,555
Fairfax Financial Holdings, Ltd. 10,790 4,834,425
Suncor Energy, Inc. 303,104 10,969,066
43,662,294
China - 4.5%
Baidu, Inc., ADR (I) 43,792 9,556,728
CNOOC, Ltd. 1,550,000 2,669,069
Great Wall Motor Company, Ltd., H Shares 1,548,000 5,999,185
Industrial & Commercial Bank of China, Ltd.,
       H Shares 7,522,000 4,691,586
22,916,568
Denmark - 2.6%
Carlsberg A/S, Class B 80,564 7,155,098
Novo Nordisk A/S 127,636 6,076,977
13,232,075
France - 3.6%
Publicis Groupe SA 114,029 7,814,224
Schneider Electric SE (I) 71,890 5,515,576
Total SA 80,519 5,213,935
18,543,735
Germany - 7.5%
adidas AG 60,203 4,492,072
Allianz SE 39,053 6,304,397
Deutsche Boerse AG 110,877 7,445,466
Deutsche Post AG 171,390 5,463,066
ProSiebenSat.1 Media AG 93,883 3,722,019
SAP SE 149,764 10,808,416
38,235,436
Hong Kong - 3.0%
Galaxy Entertainment Group, Ltd. 1,351,000 7,843,939
Hutchison Whampoa, Ltd. 617,000 7,458,664
15,302,603
Ireland - 1.7%
Shire PLC 103,260 8,909,436
Israel - 2.2%
Teva Pharmaceutical Industries, Ltd., ADR 207,735 11,165,756
Japan - 6.8%
Denso Corp. 76,500 3,529,424
FANUC Corp. 31,000 5,606,434
Japan Tobacco, Inc. 184,500 5,995,406
Keyence Corp. 11,100 4,819,468
Komatsu, Ltd. 271,200 6,267,741
Toyota Motor Corp. 151,200 8,896,478
35,114,951
Mexico - 1.8%
Fomento Economico Mexicano SAB
       de CV, ADR 27,355 2,518,028
Grupo Televisa SAB, ADR 202,420 6,857,990
9,376,018
Netherlands - 1.5%
Royal Dutch Shell PLC, B Shares 197,576 7,810,965
Singapore - 4.5%
Avago Technologies, Ltd. 98,407 8,561,409
Keppel Corp., Ltd. 747,200 6,145,989
United Overseas Bank, Ltd. 480,000 8,414,744
23,122,142
South Korea - 2.7%
Hyundai Mobis 26,795 6,523,280
Samsung Electronics Company, Ltd. 6,640 7,436,849
13,960,129
Spain - 1.0%
Amadeus IT Holding SA, A Shares 137,698 5,140,441
Sweden - 2.3%
Investor AB, B Shares 173,660 6,114,507
Telefonaktiebolaget LM Ericsson, B Shares 444,985 5,610,754
11,725,261
Switzerland - 8.0%
ABB, Ltd. (I) 310,984 6,956,580
Julius Baer Group, Ltd. (I) 112,391 5,022,440
Novartis AG 65,783 6,194,678
Roche Holding AG 35,343 10,436,891
Syngenta AG 18,444 5,840,214
UBS AG (I) 365,326 6,350,395
40,801,198
Taiwan - 1.7%
Taiwan Semiconductor
       Manufacturing Company, Ltd. 2,197,000 8,746,535
Thailand - 1.3%
Kasikornbank PCL, NVDR 903,900 6,537,698
Turkey - 1.0%
Akbank TAS 1,654,575 5,390,893
United Kingdom - 18.0%
Aberdeen Asset Management PLC 834,014 5,380,649
British American Tobacco PLC 198,568 11,189,419
British Sky Broadcasting Group PLC 836,879 11,936,523
Centrica PLC 805,505 4,014,593
Compass Group PLC 544,881 8,788,497
Informa PLC 464,622 3,670,733
Kingfisher PLC 979,380 5,122,034
Next PLC 42,825 4,583,774
Reed Elsevier PLC 914,151 14,614,542
Smith & Nephew PLC 416,629 7,008,382
Unilever NV 139,830 5,549,175
WPP PLC 512,742 10,272,023
92,130,344
TOTAL COMMON STOCKS (Cost $394,911,418) $ 478,672,293

The accompanying notes are an integral part of the financial statements. 119


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

International Growth Stock Trust (continued)

Shares or
Principal
Amount Value
SHORT-TERM INVESTMENTS - 6.2%
Money market funds - 6.2%
State Street Institutional Liquid Reserves
       Fund, 0.0853% (Y) 31,929,035       31,929,035
TOTAL SHORT-TERM INVESTMENTS (Cost $31,929,035)   $ 31,929,035
Total Investments (International Growth Stock Trust)
       (Cost $426,840,453) - 99.5% $ 510,601,328
Other assets and liabilities, net - 0.5% 2,423,204
TOTAL NET ASSETS - 100.0% $ 513,024,532

International Small Company Trust

Shares or
Principal
Amount Value
COMMON STOCKS - 99.5%
Australia - 6.2%
Adelaide Brighton, Ltd. 19,147       $ 53,790
Aditya Birla Minerals, Ltd. (I) 16,006 3,492
AED Oil, Ltd. (I) 17,758 0
Ainsworth Game Technology, Ltd. 10,192 27,048
AJ Lucas Group, Ltd. (I) 6,337 3,990
Alkane Resources, Ltd. (I) 4,753 854
Alliance Resources, Ltd. (I) 22,348 3,816
Amalgamated Holdings, Ltd. 8,898 74,538
Amcom Telecommunications, Ltd. 6,851 11,441
Ansell, Ltd. 3,460 58,858
APN News & Media, Ltd. (I) 42,191 30,145
ARB Corp., Ltd. 5,909 64,785
Arrium, Ltd. 200,392 63,865
ASG Group, Ltd. (I) 16,688 9,950
Atlas Iron, Ltd. (L) 57,616 21,144
Ausdrill, Ltd. 16,467 12,976
Ausenco, Ltd. (I) 9,940 4,440
Austal, Ltd. (I) 23,155 26,298
Austbrokers Holdings, Ltd. 4,308 38,029
Austin Engineering, Ltd. 7,179 7,346
Australian Agricultural Company, Ltd. (I) 20,852 24,127
Automotive Holdings Group, Ltd. 31,654 104,324
Aveo Group 6,727 12,476
AWE, Ltd. (I) 36,008 57,767
BC Iron, Ltd. 10,606 14,968
Beach Energy, Ltd. 137,711 169,710
Bega Cheese, Ltd. 5,704 25,082
Bentham IMF, Ltd. 11,295 20,466
Billabong International, Ltd. (I) 21,480 13,125
Blackmores, Ltd. 1,425 40,163
Bradken, Ltd. 10,103 37,546
Breville Group, Ltd. 7,320 44,857
Brickworks, Ltd. 1,798 21,170
BT Investment Management, Ltd. 3,141 16,896
Cabcharge Australia, Ltd. 9,047 43,169
Cape Lambert Resources, Ltd. 61,857 4,992
Cardno, Ltd. 10,684 56,323
Carnarvon Petroleum, Ltd. (I) 56,316 11,349
Carsales.com.au, Ltd. 3,149 27,148
Cedar Woods Properties, Ltd. 2,505 16,138
Chandler Macleod, Ltd. 26,035 8,767
Coal of Africa, Ltd. (I) 28,467 1,366
Cockatoo Coal, Ltd. (I) 193,911 3,381
Coffey International, Ltd. (I) 25,659 6,853
Compass Resources, Ltd. (I) 15,577 0
CSG, Ltd. 23,845 26,218
CSR, Ltd. 40,665 118,489
Cudeco, Ltd. (I) 8,580 11,655
Cue Energy Resources, Ltd. (I) 5,000 480
Data#3, Ltd. 9,073 6,038
Decmil Group, Ltd. 2,109 3,276
Devine, Ltd. (I) 8,467 7,825
Domino’s Pizza Enterprises, Ltd. 2,718 62,291
Downer EDI, Ltd. 31,360 120,945
Drillsearch Energy, Ltd. (I) 35,948 40,601
DuluxGroup, Ltd. 31,393 152,585
DWS, Ltd. 12,684 12,263
Echo Entertainment Group, Ltd. 59,393 170,209
Elders, Ltd. (I) 48,521 7,452
Emeco Holdings, Ltd. (I) 61,822 11,312
Energy Resources of Australia, Ltd. (I) 12,909 14,087
Energy World Corp., Ltd. (I) 75,962 23,619
Evolution Mining, Ltd. 26,424 15,978
Fairfax Media, Ltd. 171,716 116,227
Fantastic Holdings, Ltd. 4,687 6,979
Finbar Group, Ltd. 8,370 10,189
Fleetwood Corp., Ltd. 5,216 7,994
FlexiGroup, Ltd. 16,586 48,827
Flinders Mines, Ltd. (I) 102,814 2,156
Focus Minerals, Ltd. (I) 124,710 1,414
Gindalbie Metals, Ltd. (I) 51,157 1,478
Goodman Fielder, Ltd. 209,597 115,113
GrainCorp., Ltd. 13,614 101,705
Grange Resources, Ltd. 101,992 10,732
Gryphon Minerals, Ltd. (I) 17,464 2,059
GUD Holdings, Ltd. 7,726 45,706
Gunns, Ltd. (I) 91,122 0
GWA Group, Ltd. 24,613 55,229
Hillgrove Resources, Ltd. (I) 10,302 5,580
Hills, Ltd. 29,039 33,626
Horizon Oil, Ltd. (I) 103,008 27,097
iiNET, Ltd. 15,854 112,804
Imdex, Ltd. 15,820 9,696
Independence Group NL 21,877 77,527
Indophil Resources NL (I) 145,281 36,745
Infigen Energy (I) 81,696 18,527
Infomedia, Ltd. 17,723 17,851
International Ferro Metals, Ltd. (I) 24,339 2,909
Intrepid Mines, Ltd. (I) 32,053 7,834
Invocare, Ltd. 7,210 69,076
IOOF Holdings, Ltd. 18,395 137,310
Iress, Ltd. 10,359 89,963
JB Hi-Fi, Ltd. 9,468 127,589
Karoon Gas Australia, Ltd. (I) 6,513 19,840
Kingsgate Consolidated, Ltd. (I) 11,120 6,974
Linc Energy, Ltd. (I) 22,798 20,189
M2 Group, Ltd. 14,853 98,864
MACA, Ltd. 4,396 5,741
Macmahon Holdings, Ltd. (I) 112,440 10,326
Magellan Financial Group, Ltd. 3,751 41,356
Matrix Composites & Engineering, Ltd. (I) 1,943 1,631
McMillan Shakespeare, Ltd. 3,508 31,733
McPherson’s, Ltd. 7,978 9,496
Medusa Mining, Ltd. (I) 8,127 5,911
Mermaid Marine Australia, Ltd. 23,329 39,335
Metals X, Ltd. (I) 140,431 27,572
Metcash, Ltd. 66,572 153,314
Mincor Resources NL 19,890 9,920

The accompanying notes are an integral part of the financial statements. 120


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

International Small Company Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
Australia (continued)
Mineral Deposits, Ltd. (I) 5,861 $ 7,185
Mineral Resources, Ltd. 9,687 73,586
Molopo Energy, Ltd. (I) 5,287 694
Monadelphous Group, Ltd. 7,434 83,029
Mortgage Choice, Ltd. 6,422 14,197
Mount Gibson Iron, Ltd. 62,063 29,502
Myer Holdings, Ltd. (L) 45,216 77,395
Nexus Energy, Ltd. (I) 112,125 1,276
NIB Holdings, Ltd. 43,000 109,344
Nido Petroleum, Ltd. (I) 140,525 6,752
Northern Star Resources, Ltd. 42,401 46,242
NRW Holdings, Ltd. 18,377 13,824
Nufarm, Ltd. 14,896 64,212
Oakton, Ltd. 7,538 12,369
OceanaGold Corp. (I) 21,200 43,727
Otto Energy, Ltd. (I) 63,569 5,075
OZ Minerals, Ltd. 13,708 46,488
Pacific Brands, Ltd. 68,225 28,925
Paladin Resources, Ltd. (I) 79,230 26,251
Pan Pacific Petroleum NL (I) 39,039 1,916
PanAust, Ltd. 16,167 27,527
Panoramic Resources, Ltd. 26,277 15,069
Peet, Ltd. 12,736 13,306
Perpetual, Ltd. 2,617 100,997
Perseus Mining, Ltd. (I) 34,213 9,949
PMP, Ltd. (I) 32,750 13,742
Premier Investments, Ltd. 6,565 58,998
Primary Health Care, Ltd. 24,558 93,825
Prime Retirement & Aged
       Care Property Trust (I) 14,396 0
Programmed Maintenance Services, Ltd. 12,923 31,217
RCR Tomlinson, Ltd. 10,520 29,532
Reckon, Ltd. 11,034 19,308
Redflex Holdings, Ltd. 3,279 3,182
Regis Resources, Ltd. 20,593 27,911
Resolute Mining, Ltd. (I) 37,931 14,682
Resource Generation, Ltd. (I) 9,069 1,113
Retail Food Group, Ltd. 6,910 29,849
Ridley Corp., Ltd. 19,156 14,639
Roc Oil Company, Ltd. (I) 64,961 38,875
SAI Global, Ltd. 19,386 68,818
Sandfire Resources NL 8,888 45,352
Saracen Mineral Holdings, Ltd. (I) 20,048 6,284
Sedgman, Ltd. 11,057 5,809
Select Harvests, Ltd. 2,626 14,241
Senex Energy, Ltd. (I) 87,382 42,089
Servcorp, Ltd. 5,074 23,171
Seven Group Holdings, Ltd. 7,850 46,403
Seven West Media, Ltd. 23,252 32,686
Sigma Pharmaceuticals, Ltd. 207,664 143,341
Silex Systems, Ltd. (I) 1,955 1,163
Silver Lake Resources, Ltd. (I) 29,625 10,059
Sirtex Medical, Ltd. 4,444 85,360
Skilled Group, Ltd. 11,678 22,972
Slater & Gordon, Ltd. 6,228 33,447
SMS Management & Technology, Ltd. 8,079 26,468
Southern Cross Media Group, Ltd. 51,441 44,717
Spark Infrastructure Group 95,793 154,313
Specialty Fashion Group, Ltd. 12,034 9,329
St. Barbara, Ltd. (I) 33,049 4,738
STW Communications Group, Ltd. 25,254 26,496
Sundance Resources, Ltd. (I) 164,268 9,463
Super Retail Group, Ltd. 12,026 87,460
Tabcorp Holdings, Ltd. 8,975 28,381
Tassal Group, Ltd. 7,107 22,845
Technology One, Ltd. 17,402 48,365
Ten Network Holdings, Ltd. (I) 108,747 22,827
TFS Corp., Ltd. 19,836 32,584
The Reject Shop, Ltd. 2,561 20,094
Tiger Resources, Ltd. (I) 64,257 13,985
Tox Free Solutions, Ltd. 9,372 21,849
Transfield Services, Ltd. (I) 42,615 55,288
Transpacific Industries Group, Ltd. 84,321 60,183
Troy Resources, Ltd. (I) 7,482 4,897
UGL, Ltd. (I) 12,337 65,774
UXC, Ltd. 17,598 14,128
Village Roadshow, Ltd. 13,075 80,945
Virgin Australia Holdings, Ltd. 839,104 160,928
Vocus Communications, Ltd. 2,452 11,947
Watpac, Ltd. 11,170 8,964
Webjet, Ltd. 7,994 21,017
Western Areas, Ltd. 10,404 39,249
White Energy Company, Ltd. (I)(L) 9,845 1,459
Whitehaven Coal, Ltd. (I) 54,148 80,887
Wide Bay Australia, Ltd. 607 2,898
Wotif.com Holdings, Ltd. 6,934 18,811
6,904,629
Austria - 1.1%
AMAG Austria Metall AG (S) 304 9,717
ams AG 4,783 180,841
Austria Technologie & Systemtechnik AG 491 5,664
CA Immobilien Anlagen AG (I) 722 14,377
CAT Oil AG 1,736 32,899
Conwert Immobilien Invest SE (I) 4,312 49,127
DO & CO AG 168 10,931
EVN AG 1,566 20,033
Flughafen Wien AG 1,080 90,158
Frauenthal Holdings AG 62 815
Kapsch Trafficcom AG (I) 191 5,535
Lenzing AG 92 5,685
Mayr-Melnhof Karton AG 640 67,866
Oesterreichische Post AG 3,720 178,327
Palfinger AG 1,137 35,919
RHI AG 2,979 81,992
Rosenbauer International AG 174 15,389
S IMMO AG (I) 3,364 26,171
Schoeller-Bleckmann Oilfield Equipment AG 1,346 131,205
Semperit AG Holding 179 8,255
Strabag SE 361 8,506
UNIQA Insurance Group AG 848 9,676
Wienerberger AG 9,071 116,789
Zumtobel Group AG 5,975 111,728
1,217,605
Bahamas - 0.0%
United International Enterprises 65 12,593
Belgium - 1.3%
Ablynx NV (I) 412 4,382
Ackermans & van Haaren NV 1,818 224,572
AGFA-Gevaert NV (I) 35,672 67,508
Arseus NV 1,839 88,974
Banque Nationale de Belgique 12 51,830
Barco NV 967 69,888
Cie d’Entreprises CFE 687 70,857
Cie Immobiliere de Belgique SA 47 2,589
Cie Maritime Belge SA 1,387 28,882

The accompanying notes are an integral part of the financial statements. 121


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

International Small Company Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
Belgium (continued)
D’ieteren SA 2,196 $ 85,138
Deceuninck NV 7,720 22,211
Econocom Group 4,944 44,620
Elia System Operator SA (I) 3,207 128,378
Euronav NV (I) 2,340 26,504
EVS Broadcast Equipment SA 811 28,255
Exmar NV 1,567 24,098
Galapagos NV (I)(L) 2,443 36,872
Gimv NV 23 1,087
Ion Beam Applications (I) 678 11,895
Kinepolis 2,435 93,505
Lotus Bakeries SA 9 10,553
Melexis NV 1,922 87,594
Mobistar SA (I) 537 10,010
NV Bekaert SA 276 9,195
Nyrstar NV (I)(L) 19,549 42,315
Recticel SA 1,276 9,860
Rezidor Hotel Group AB (I) 8,485 39,673
RHJ International SA (I) 2,083 10,279
Sipef SA 356 23,617
Tessenderlo Chemie NV (I) 1,725 42,320
ThromboGenics NV (I)(L) 1,612 15,021
Van de Velde NV 556 26,983
Viohalco SA (I) 7,173 30,176
1,469,641
Bermuda - 0.5%
Catlin Group, Ltd. 29,759 250,929
Frontline, Ltd. (I) 3,470 4,406
Golden Ocean Group, Ltd. 34,000 40,485
Hiscox, Ltd. 19,887 202,737
Hoegh LNG Holdings, Ltd. (I) 2,568 39,232
537,789
Cambodia - 0.1%
NagaCorp, Ltd. 90,000 64,628
Canada - 9.9%
5N Plus, Inc. (I) 3,515 9,259
Absolute Software Corp. 3,900 23,506
Advantage Oil & Gas, Ltd. (I) 11,300 57,411
Aecon Group, Inc. 5,300 71,790
AG Growth International, Inc. 1,100 43,707
AGF Management, Ltd., Class B 6,598 68,811
Ainsworth Lumber Company, Ltd. (I) 633 1,532
Akita Drilling, Ltd., Class A 700 9,125
Alamos Gold, Inc. 9,729 77,575
Alaris Royalty Corp. 330 9,137
Alexco Resource Corp. (I) 4,800 3,172
Algonquin Power & Utilities Corp. 14,667 115,901
Alliance Grain Traders, Inc. 1,218 31,332
Alterra Power Corp. (I) 15,708 4,278
Altius Minerals Corp. (I) 3,100 33,520
Altus Group, Ltd. 477 8,378
Alvopetro Energy, Ltd. (I)(L) 6,100 3,540
Artek Exploration, Ltd. (I) 4,000 10,000
Asanko Gold, Inc. (I) 6,600 13,672
ATS Automation Tooling Systems, Inc. (I) 8,247 95,507
AuRico Gold, Inc. 15,100 52,718
AutoCanada, Inc. 457 22,219
Avalon Rare Metals, Inc. (I) 5,100 1,708
Avigilon Corp. (I) 600 10,002
B2Gold Corp. (I)(L) 45,756 93,150
Badger Daylighting, Ltd. 1,322 32,957
Bankers Petroleum, Ltd. (I) 23,800 114,543
Bellatrix Exploration, Ltd. (I) 9,897 60,799
Birch Mountain Resources, Ltd. (I) 9,200 0
Birchcliff Energy, Ltd. (I) 9,700 91,894
Black Diamond Group, Ltd. 2,750 58,489
BlackPearl Resources, Inc. (I) 24,200 45,377
BMTC Group, Inc., Class A 500 6,920
Bonterra Energy Corp. 2,200 111,400
Boralex, Inc., Class A 1,600 18,772
Brookfield Residential Properties, Inc. (I) 600 11,334
Calfrac Well Services, Ltd. 6,414 99,536
Calvalley Petroleums, Inc., Class A 6,909 8,020
Canaccord Financial, Inc. 6,371 63,656
Canadian Energy Services & Technology Corp. 13,646 114,290
Canam Group, Inc. 2,800 26,626
CanElson Drilling, Inc. 6,283 36,073
Canexus Corp. 4,363 17,920
Canfor Pulp Products, Inc. 2,715 27,660
Canyon Services Group, Inc. 5,968 68,688
Capital Power Corp. 6,627 158,286
Capstone Infrastructure Corp. 7,754 28,733
Capstone Mining Corp. (I) 29,467 59,200
Cascades, Inc. 5,200 28,555
Cathedral Energy Services, Ltd. 2,500 9,532
Celestica, Inc. (I) 17,900 181,405
Centerra Gold, Inc. 13,742 61,596
Cequence Energy, Ltd. (I) 2,335 3,815
China Gold
       International Resources Corp., Ltd. (I)		 12,500 35,716
Chinook Energy, Inc. (I) 3,544 6,487
Cineplex, Inc. 2,600 96,181
Clarke, Inc. 1,300 11,376
Claude Resources, Inc. (I) 10,900 1,995
Cogeco Cable, Inc. 1,152 58,868
Cogeco, Inc. 545 26,424
Colabor Group, Inc. 649 2,173
COM DEV International, Ltd. 8,800 27,894
Computer Modelling Group, Ltd. 3,420 35,545
Connacher Oil and Gas, Ltd. (I) 52,700 5,882
Contrans Group, Inc., Class A 2,800 37,477
Copper Mountain Mining Corp. (I) 8,800 19,015
Corridor Resources, Inc. (I) 4,930 6,735
Corus Entertainment, Inc. 6,604 146,651
Cott Corp. 8,900 61,111
Crew Energy, Inc. (I) 11,300 99,787
DeeThree Exploration, Ltd. (I) 2,325 18,891
Delphi Energy Corp. (I) 20,245 64,715
Denison Mines Corp. (I) 33,028 37,748
DH Corp. 6,816 201,264
DirectCash Payments, Inc. 500 7,215
Dominion Diamond Corp. (I) 7,361 104,570
Dorel Industries, Inc., Class B 3,200 95,576
Duluth Metals, Ltd. (I) 8,700 1,864
Dundee Precious Metals, Inc. (I) 8,500 33,774
easyhome, Ltd. 46 933
Enbridge Income Fund Holdings, Inc. 3,792 102,896
Endeavour Silver Corp. (I) 9,243 40,440
Enerflex, Ltd. 4,700 80,197
Energy Fuels, Inc. (I) 730 4,889
Enghouse Systems, Ltd. 1,100 35,270
Ensign Energy Services, Inc. 4,900 64,359
Entree Gold, Inc. (I) 7,400 1,949
Epsilon Energy, Ltd. (I) 3,000 11,358
Equitable Group, Inc. 400 22,326

The accompanying notes are an integral part of the financial statements. 122


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

International Small Company Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
Canada (continued)
Essential Energy Services, Ltd. 7,268 $ 15,899
Evertz Technologies, Ltd. 1,712 25,819
Excellon Resources, Inc. (I) 400 382
Exco Technologies, Ltd. 2,900 26,282
Exeter Resource Corp. (I) 230 138
Extendicare, Inc. 3,869 28,397
Fiera Capital Corp. 1,035 12,014
Firm Capital Mortgage Investment Corp. 1,100 12,179
First Majestic Silver Corp. (I) 8,662 67,520
First National Financial Corp. 700 13,276
FirstService Corp. 2,400 125,963
Forsys Metals Corp. (I) 400 90
Fortress Paper, Ltd., Class A (I) 900 1,800
Fortuna Silver Mines, Inc. (I) 12,299 49,637
Fortune Minerals, Ltd. (I) 2,450 481
Gamehost, Inc. 100 1,464
Glacier Media, Inc. 6,100 8,224
GLENTEL, Inc. 1,400 13,579
Gluskin Sheff + Associates, Inc. 2,500 65,516
GMP Capital, Inc. 3,026 19,724
Golden Star Resources, Ltd. (I)(L) 27,300 11,213
Gran Tierra Energy, Inc. (I) 19,353 106,965
Great Canadian Gaming Corp. (I) 3,900 64,214
Great Panther Silver, Ltd. (I) 14,100 14,352
Guyana Goldfields, Inc. (I) 6,600 15,204
Hanfeng Evergreen, Inc. (I) 200 1
Heroux-Devtek, Inc. (I) 1,600 14,715
High Liner Foods, Inc. 700 13,144
Horizon North Logistics, Inc. 8,109 36,782
HudBay Minerals, Inc. 18,257 156,007
Hudson’s Bay Company 3,300 52,449
IAMGOLD Corp. (I) 13,445 37,216
IMAX Corp. (I) 4,413 121,172
Imperial Metals Corp. (I) 4,600 35,693
Innergex Renewable Energy, Inc. 7,256 67,898
Interfor Corp. (I) 6,220 89,694
International Tower Hill Mines, Ltd. (I) 2,300 1,027
Intertape Polymer Group, Inc. 4,500 65,373
Ivanhoe Energy, Inc. (I) 1,214 1,962
Just Energy Group, Inc. (L) 11,140 51,724
K-Bro Linen, Inc. 600 20,969
KAB Distribution, Inc. (I) 7,076 1
Katanga Mining, Ltd. (I) 87,256 31,554
Kelt Exploration, Ltd. (I) 94 1,007
Killam Properties, Inc. 3,556 32,863
Kingsway Financial Services, Inc. (I) 2,025 12,729
Kirkland Lake Gold, Inc. (I) 4,664 20,614
Knight Therapeutics, Inc. (I) 1,000 5,482
Lake Shore Gold Corp. (I)(L) 40,100 40,818
Laurentian Bank of Canada 3,414 147,662
Legacy Oil + Gas, Inc. (I) 15,246 83,448
Leisureworld Senior Care Corp. 1,555 18,619
Leon’s Furniture, Ltd. 3,283 42,974
Lightstream Resources, Ltd. 12,560 58,878
Liquor Stores N.A., Ltd. 1,500 18,001
Long Run Exploration, Ltd. 6,886 27,607
Lucara Diamond Corp. 300 579
MacDonald Dettwiler & Associates, Ltd. 1,800 134,604
Major Drilling Group International 6,800 40,073
Manitoba Telecom Services, Inc. 2,120 55,141
Maple Leaf Foods, Inc. 8,695 148,443
Martinrea International, Inc. 7,093 82,523
Medical Facilities Corp. 500 7,081
Mega Uranium, Ltd. (I)(L) 24,000 4,393
Migao Corp. (I) 3,000 4,018
Mitel Networks Corp. (I) 7,200 65,832
Mood Media Corp. (I) 3,135 1,820
Morneau Shepell, Inc. 3,098 44,536
MTY Food Group, Inc. 500 14,702
Mullen Group, Ltd. 6,982 159,471
Nautilus Minerals, Inc. (I) 24,663 11,671
Nevsun Resources, Ltd. 10,158 36,734
Newalta Corp. 5,900 116,319
Niko Resources, Ltd. (I) 1,892 1,318
Norbord, Inc. (L) 2,240 45,922
North American Palladium, Ltd. (I) 7,400 1,454
Northland Power, Inc. 3,464 53,509
NuVista Energy, Ltd. (I) 9,573 89,153
Osisko Gold Royalties, Ltd. (I) 395 5,001
Painted Pony Petroleum, Ltd. (I) 7,448 83,461
Pan American Silver Corp. 5,400 59,354
Parex Resources, Inc. (I) 8,116 90,222
Parkland Fuel Corp. 3,768 71,662
Pason Systems, Inc. 6,600 184,514
Perpetual Energy, Inc. (I) 1,456 2,275
PHX Energy Services Corp. 1,500 18,376
Pilot Gold, Inc. (I) 3,109 2,859
Platinum Group Metals, Ltd. (I) 5,000 4,420
Polymet Mining Corp. (I) 11,854 12,807
Premium Brands Holdings Corp. 1,400 30,776
Primero Mining Corp. (I) 8,118 39,505
Pulse Seismic, Inc. 2,882 7,488
QLT, Inc. (I) 100 456
Questerre Energy Corp., Class A (I) 19,444 18,056
Reitmans Canada, Ltd. 154 873
Reitmans Canada, Ltd., Class A 3,200 18,858
Richelieu Hardware, Ltd. 1,800 78,416
Richmont Mines, Inc. (I) 2,000 4,036
Ritchie Brothers Auctioneers, Inc. 5,714 127,936
RMP Energy, Inc. (I) 10,900 66,863
Rocky Mountain Dealerships, Inc. 100 965
Rogers Sugar, Inc. 4,174 17,517
RONA, Inc. 11,109 135,298
Rubicon Minerals Corp. (I) 15,700 21,308
Russel Metals, Inc. 7,189 221,906
Sabina Gold & Silver Corp. (I) 2,375 1,166
San Gold Corp. (I) 15,200 1,357
Sandstorm Gold, Ltd. (I) 9,631 41,278
Sandvine Corp. (I) 11,600 28,691
Savanna Energy Services Corp. 5,561 35,155
Scorpio Mining Corp. (I) 8,900 2,106
Secure Energy Services, Inc. 7,537 162,591
SEMAFO, Inc. (I) 18,836 66,265
ShawCor, Ltd. 90 4,540
Sherritt International Corp. 33,600 93,004
Shore Gold, Inc. (I) 22,600 5,045
Sierra Wireless, Inc. (I) 3,200 85,718
Silver Standard Resources, Inc. (I) 7,745 47,233
Southern Pacific Resource Corp. (I) 14,216 571
Sprott Resource Corp. (I) 9,300 23,085
Sprott, Inc. 9,900 25,105
Stella-Jones, Inc. 437 11,448
Stuart Olson Inc 1,600 12,586
Student Transportation, Inc. (L) 5,290 33,158
SunOpta, Inc. (I) 5,308 64,173
Superior Plus Corp. (L) 8,082 101,823

The accompanying notes are an integral part of the financial statements. 123


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

International Small Company Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
Canada (continued)
Surge Energy, Inc. 16,100 $ 102,930
Taseko Mines, Ltd. (I) 16,100 27,314
Tembec, Inc. (I) 3,200 9,172
Teranga Gold Corp., ADR (I) 12,432 8,120
The Descartes Systems Group, Inc. (I) 6,000 82,557
The North West Company, Inc. 2,983 59,609
Theratechnologies, Inc. (I) 3,586 1,697
Timminco, Ltd. (I) 8,700 15
Timmins Gold Corp. (I) 6,378 8,030
TLC Vision Corp. (I) 3,400 31
TORC Oil & Gas, Ltd. 4,180 47,848
Toromont Industries, Ltd. 6,068 146,072
Torstar Corp., Class B 6,800 40,498
Total Energy Services, Inc. 6,209 115,315
Touchstone Exploration, Inc. (I) 759 515
Transcontinental, Inc., Class A 5,983 78,263
TransForce, Inc. 7,918 191,101
TransGlobe Energy Corp. 5,600 34,052
Transition Therapeutics, Inc. (I) 2,700 18,563
Trican Well Service, Ltd. 10,563 123,555
Trinidad Drilling, Ltd. 11,797 88,376
Twin Butte Energy, Ltd. 10,892 15,852
Uni-Select, Inc. 1,900 48,079
Valener, Inc. 827 11,608
Vecima Networks, Inc. 479 3,593
Wajax Corp. 1,300 44,399
Wesdome Gold Mines, Ltd. (I) 8,000 5,572
Western Energy Services Corp. 2,046 16,314
Western Forest Products, Inc. 8,681 17,363
Westshore Terminals Investment Corp. 589 17,576
Whistler Blackcomb Holdings, Inc. 1,000 16,429
Whitecap Resources, Inc. (L) 11,887 170,140
Wi-LAN, Inc. 9,800 35,352
Winpak, Ltd. 1,002 24,962
WSP Global, Inc. 2,473 78,963
Xtreme Drilling and Coil Services Corp. (I) 3,452 12,298
Zargon Oil & Gas, Ltd. 1,173 7,332
ZCL Composites, Inc. 3,500 19,720
Zenith Epigenetics Corp. (I) 1,700 653
11,055,432
Cayman Islands - 0.0%
Endeavour Mining Corp. (I) 31,825 19,039
China - 0.0%
Bund Center Investment, Ltd. 152,000 24,298
Xinyi Solar Holdings, Ltd. 33,000 10,810
35,108
Cyprus - 0.1%
Prosafe SE 9,426 55,190
Songa Offshore SE (I) 30,800 11,168
66,358
Denmark - 1.9%
ALK-Abello A/S 491 59,217
Alm Brand A/S (I) 7,955 45,538
Amagerbanken A/S (I) 25,580 0
Ambu A/S, Class B 308 22,173
Auriga Industries, Class B (I) 1,383 71,733
Bang & Olufsen A/S (I) 3,937 37,888
Bavarian Nordic A/S (I) 2,329 44,746
D/S Norden A/S (L) 2,246 57,513
Dfds A/S 551 43,277
East Asiatic Company, Ltd. A/S 800 8,368
FLSmidth & Company A/S 2,430 115,886
Genmab A/S (I) 3,300 139,353
GN Store Nord A/S 7,647 168,332
IC Companys A/S 807 22,033
Jyske Bank A/S (I) 3,015 162,585
Lan & Spar Bank A/S 225 14,111
NKT Holding A/S 2,489 136,922
PER Aarsleff A/S 138 22,717
Ringkjoebing Landbobank A/S 386 74,806
Rockwool International A/S, B Shares 501 72,403
Royal Unibrew A/S (I) 750 124,568
Schouw & Company A/S 1,093 44,670
SimCorp A/S 4,516 132,493
Solar Holdings A/S, B Shares 603 30,021
Spar Nord Bank A/S 8,852 89,258
Sydbank A/S (I) 5,133 156,220
Topdanmark A/S (I) 6,093 184,361
Vestjysk Bank A/S (I) 155 320
2,081,512
Faroe Islands - 0.1%
Bakkafrost P/F 2,180 46,873
Finland - 2.1%
Afarak Group OYJ (I) 8,977 3,070
Ahlstrom OYJ 63 589
Alma Media OYJ (I) 4,110 16,029
Amer Sports OYJ 13,005 260,418
Apetit OYJ 696 14,535
Atria PLC 1,021 8,964
Cargotec Corp. OYJ, B Shares 4,313 143,587
Caverion Corp. 17,750 135,442
Citycon OYJ 7,889 26,304
Cramo OYJ 2,993 42,233
Elektrobit OYJ 2,752 10,077
Elisa OYJ, Class A 1,509 39,976
F-Secure OYJ 7,159 22,459
Finnair OYJ (I) 3,281 10,339
Finnlines OYJ (I) 4,379 83,377
Fiskars OYJ Abp 3,512 89,990
HKScan OYJ, A Shares 316 1,345
Huhtamaki OYJ 5,884 161,129
Ilkka-Yhtyma OYJ 1,535 4,163
Kemira OYJ 8,272 108,828
Kesko OYJ, B Shares 1,660 59,251
Konecranes OYJ 4,353 116,741
Lassila & Tikanoja OYJ 27 456
Metsa Board OYJ 37,119 164,659
Olvi OYJ 1,172 35,399
Oriola-KD OYJ, B Shares (I) 4,895 14,574
Orion OYJ, Class A 380 14,781
Orion OYJ, Class B 3,133 122,330
Outokumpu OYJ (I) 2,046 14,180
Outotec OYJ 13,940 105,470
PKC Group OYJ 1,616 32,713
Poyry OYJ (I) 2,864 11,886
Raisio OYJ 8,267 39,781
Ramirent OYJ 4,765 37,385
Rapala VMC OYJ 2,298 15,422
Stockmann OYJ ABP, Class B 3,940 42,873
Technopolis OYJ 63 319
Tieto OYJ 4,223 106,398
Tikkurila OYJ 2,068 43,058
Uponor OYJ 4,437 59,637

The accompanying notes are an integral part of the financial statements. 124


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

International Small Company Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
Finland (continued)
Vacon PLC 1,516 $ 64,454
Vaisala OYJ, A Share 206 5,435
YIT OYJ 12,581 96,634
2,386,690
France - 4.0%
ABC Arbitrage 1,757 10,363
Air France-KLM (I)(L) 2,943 27,559
Akka Technologies SA 304 10,284
Albioma SA 1,834 44,975
Alten SA 1,830 78,440
Altran Technologies SA 10,778 111,190
April 1,212 24,274
Assystem SA 1,693 35,627
Beneteau SA (I) 2,042 32,635
BioMerieux SA 698 72,274
Boiron SA 604 50,472
Bonduelle SCA 1,470 37,598
Bongrain SA 189 13,855
Burelle SA 28 20,834
Cegedim SA (I) 186 5,859
Cegid SA 129 4,822
Cie des Alpes (I) 105 2,097
Club Mediterranee SA (I) 1,557 44,346
Compagnie Plastic Omnium SA 4,529 108,141
Derichebourg SA 3,125 8,263
Electricite de Strasbourg SA 81 11,156
Eramet (I) 341 35,912
Etablissements Maurel et Prom SA (I) 7,666 107,875
Faiveley Transport 600 38,262
Faurecia 3,465 110,645
Financiere Marc de Lacharriere SA 937 68,171
GameLoft SA (I) 4,378 29,103
GL Events SA 213 4,020
Groupe Crit 163 8,823
Groupe Fnac (I) 243 9,031
Guerbet SA 272 14,029
Haulotte Group SA 962 14,992
Havas SA 18,362 141,844
Ingenico SA 2,733 279,107
Interparfums SA 692 17,814
Ipsen SA 1,062 52,219
IPSOS 2,286 58,320
Jacquet Metal Service 1,278 25,054
Korian-Medica SA 1,760 66,435
Lagardere SCA 4,640 124,167
Lectra SA 2,262 23,150
LISI SA 1,205 35,012
Manitou BF SA (I) 880 13,927
Mersen 1,171 28,661
Metropole Television SA 4,400 71,097
Montupet SA 473 30,672
Naturex 388 25,739
Neopost SA 2,259 166,152
Nexans SA (I) 2,392 89,985
Nexity SA 2,360 87,138
Norbert Dentressangle SA 282 40,670
Orpea SA 2,836 176,217
Parrot SA (I) 755 16,429
Pierre & Vacances SA (I) 142 4,358
Rallye SA 1,771 77,361
Recylex SA (I) 3,196 9,356
Robertet SA 135 27,951
Rubis SCA 2,816 162,215
Saft Groupe SA 2,037 69,452
Sartorius Stedim Biotech 289 48,251
SEB SA 1,179 88,907
Seche Environnement SA 335 9,639
Societe d’Edition de Canal Plus 4,916 36,707
Societe Internationale de
       Plantations d’Heveas SA 50 2,211
Societe Television Francaise 1 8,404 113,251
SOITEC (I) 26,447 72,691
Solocal Group (I) 13,413 9,504
Somfy SA 271 85,517
Sopra Group SA 1,200 108,774
STEF SA 804 52,443
Synergie SA 557 12,926
Technicolor SA (I) 12,585 82,092
Teleperformance SA 4,507 278,750
Theolia SA (I) 4,793 5,412
Thermador Groupe 96 9,124
Trigano SA (I) 613 13,986
UBISOFT Entertainment SA (I) 7,613 124,846
Valneva SE (I) 1,450 9,722
Vetoquinol SA 56 2,549
Vicat SA 878 56,846
Viel & Compagnie SA 5,712 13,927
Vilmorin & Compagnie SA 668 71,392
Virbac SA 350 73,609
4,499,505
Gabon - 0.0%
Total Gabon SA 20 9,668
Germany - 4.8%
Aareal Bank AG 4,192 181,243
ADVA Optical Networking SE (I) 2,463 9,039
Amadeus Fire AG 558 38,944
Aurubis AG 5,323 262,218
Balda AG 2,487 9,475
Bauer AG (I) 314 5,388
BayWa AG 921 39,597
Bechtle AG 1,391 106,143
Bertrandt AG 483 61,632
Bijou Brigitte AG 340 23,584
Biotest AG 238 23,470
Borussia Dortmund GmbH &
       Company KGaA (I) 1,536 8,459
Borussia Dortmund GmbH & Company KGaA 4,233 23,827
CANCOM SE 1,347 51,895
Carl Zeiss Meditec AG 1,467 42,571
Celesio AG 500 16,601
CENTROTEC Sustainable AG 476 9,132
Cewe Color Holding AG 626 41,269
comdirect bank AG 2,610 26,930
CompuGroup Medical AG 739 17,685
CTS Eventim AG 3,354 94,515
Delticom AG 491 10,723
Deutsche Beteiligungs AG 423 11,453
Deutz AG 4,916 25,923
Dialog Semiconductor PLC (I) 5,136 143,402
DMG MORI SEIKI AG 5,880 165,149
Draegerwerk AG & Company KGaA 82 6,611
Drillisch AG 3,170 106,234
Duerr AG 2,207 160,159
Elmos Semiconductor AG 566 10,629
ElringKlinger AG 2,576 75,907

The accompanying notes are an integral part of the financial statements. 125


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

International Small Company Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
Germany (continued)
Evotec AG (I) 2,885 $ 11,223
Freenet AG 9,134 236,836
Gerresheimer AG 2,768 179,068
Gerry Weber International AG 2,449 96,445
Gesco AG 295 25,500
GFK AG 361 15,652
GFT Technologies AG 961 13,787
Grammer AG 1,191 45,838
Grenkeleasing AG 129 12,639
Hamburger Hafen und Logistik AG 2,218 52,704
Heidelberger Druckmaschinen AG (I) 25,560 71,154
Homag Group AG 498 17,031
Hornbach Baumarkt Ag 249 9,406
Indus Holding AG 2,123 102,916
Init Innovation In Traffic Systems AG 106 2,894
Isra Vision AG 212 12,950
Jenoptik AG 2,839 31,747
Kloeckner & Company SE (I) 7,645 104,757
Kontron AG (I) 2,482 15,512
Krones AG 1,102 95,574
KUKA AG 2,124 128,104
KWS Saat AG 206 72,547
Leoni AG 3,125 169,616
LPKF Laser & Electronics AG 2,164 37,774
Manz AG (I) 233 21,483
Medigene Ag (I) 760 3,783
MLP AG 5,864 32,627
MTU Aero Engines Holding AG 974 82,866
Muehlbauer Holding AG & Company KGaA 156 3,561
MVV Energie AG 884 26,657
Nemetschek AG 498 47,951
Nordex SE (I) 5,058 92,383
Norma Group SE 2,413 100,556
OHB AG 399 9,997
Patrizia Immobilien AG (I) 3,790 50,738
Pfeiffer Vacuum Technology AG 173 14,537
PNE Wing AG 4,544 13,932
Puma SE 194 44,872
QSC AG 6,549 18,413
Rational AG 122 36,262
Rheinmetall AG 3,081 147,403
Rhoen-Klinikum AG 5,385 162,991
SAF-Holland SA 4,007 49,188
Salzgitter AG 2,631 90,267
Schaltbau Holding AG 493 29,483
Singulus Technologies AG (I) 4,168 5,718
Sixt SE 1,292 41,409
SMA Solar Technology AG (I) 916 24,062
Software AG 4,608 113,687
Stada Arzneimittel AG 4,642 183,890
STRATEC Biomedical AG 58 3,007
Stroeer Media AG 2,153 47,338
Suedzucker AG 666 10,407
Suss Microtec AG (I) 2,259 13,568
TAG Immobilien AG 365 4,126
Takkt AG 1,841 31,364
Tom Tailor Holding AG (I) 710 12,414
TUI AG 12,516 186,384
Vossloh AG 351 23,756
VTG AG 1,231 23,006
Wacker Neuson SE 1,547 29,463
Wincor Nixdorf AG 2,415 123,507
XING AG 155 16,472
5,345,009
Gibraltar - 0.1%
888 Holdings PLC 12,231 25,716
Bwin.Party Digital Entertainment PLC 46,527 68,254
93,970
Greece - 0.0%
Alapis Holding Industrial
       and Commercial SA (I) 3,303 171
TT Hellenic Postbank SA (I) 12,594 0
171
Guernsey, Channel Islands - 0.0%
Raven Russia, Ltd. (I) 6,941 7,267
Tethys Petroleum, Ltd. (I) 5,500 1,522
8,789
Hong Kong - 2.9%
Allied Group, Ltd. 26,000 109,704
Allied Properties HK, Ltd. 282,000 52,250
Apac Resources, Ltd. (I) 68,431 1,818
APT Satellite Holdings, Ltd. 21,500 30,520
Asia Satellite Telecom Holdings Company, Ltd. 2,500 8,371
Associated International Hotels, Ltd. 44,000 124,629
Bonjour Holdings, Ltd. 162,800 22,400
Brightoil Petroleum Holdings Ltd (I) 75,000 23,303
Brockman Mining, Ltd. (I) 740,840 32,906
Cafe de Coral Holdings, Ltd. 12,000 40,466
Champion Technology Holdings, Ltd. 545,220 12,436
Chen Hsong Holdings 10,000 2,745
Cheuk Nang Holdings, Ltd. 3,114 2,808
China Billion Resources, Ltd. (I) 97,920 0
China Energy Development Holdings, Ltd. (I) 634,000 19,430
China Metal International Holdings, Inc. 12,000 4,377
China Renji Medical Group, Ltd. (I) 99,900 3,666
China Solar Energy Holdings Ltd. (I) 42,500 985
Chow Sang Sang Holdings International, Ltd. 19,000 45,263
Chuang’s Consortium International, Ltd. 30,948 3,788
CITIC Telecom International Holdings, Ltd. 112,000 41,824
CK Life Sciences International Holdings, Inc. 416,000 42,318
CP Lotus Corp. (I) 220,000 5,294
Cross-Harbour Holdings, Ltd. 18,000 15,692
CSI Properties, Ltd 245,066 10,264
CST Mining Group, Ltd. (I) 2,210,240 12,240
Dah Sing Banking Group, Ltd. 34,400 61,268
Dah Sing Financial Holdings, Ltd. 15,720 95,553
Dickson Concepts International, Ltd. 29,000 15,721
EganaGoldpfeil Holdings, Ltd. (I) 103,373 0
Emperor Entertainment Hotel, Ltd. 40,000 10,942
Emperor International Holdings, Ltd. 97,333 21,072
Esprit Holdings, Ltd. 42,000 54,298
eSun Holdings, Ltd. (I) 74,000 7,897
Far East Consortium International, Ltd. 116,912 42,420
Fortune Oil PLC (L) 242,039 33,650
Future Bright Holdings, Ltd. 6,000 2,459
G-Resources Group, Ltd. (I) 2,014,800 51,315
Get Nice Holdings, Ltd. 394,000 18,486
Giordano International, Ltd. 76,000 41,111
Glorious Sun Enterprises, Ltd. 64,000 13,796
Goldin Properties Holdings, Ltd. (I) 47,000 30,201
Haitong International Securities Group, Ltd. 33,598 19,302
Hang Fung Gold Technology, Ltd. (I) 90,000 0
Harbour Centre Development, Ltd. 46,000 82,935

The accompanying notes are an integral part of the financial statements. 126


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

International Small Company Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
Hong Kong (continued)
HKR International, Ltd. 75,200 $ 35,625
Hong Kong Aircraft
       Engineering Company, Ltd. 2,000 22,151
Hong Kong Ferry Holdings Company 29,000 29,725
Hongkong Chinese, Ltd. 4,000 907
Hopewell Holdings, Ltd. 10,000 35,001
Hsin Chong Construction Group, Ltd. 170,000 20,782
Hung Hing Printing Group, Ltd. 82,000 11,624
Hutchison Telecommunications Hong
       Kong Holdings, Ltd. 136,000 54,418
Imagi International Holdings, Ltd. (I) 106,250 2,640
IT, Ltd. 44,601 15,094
Johnson Electric Holdings, Ltd. 7,000 26,515
K Wah International Holdings, Ltd. 157,312 87,540
King Stone Energy Group, Ltd. (I) 61,000 1,946
Kowloon Development Company, Ltd. 22,000 25,455
Lai Sun Development (I) 230,000 5,492
Lifestyle International Holdings, Ltd. 25,500 47,881
Lippo China Resources, Ltd. 36,000 1,413
Liu Chong Hing Investment 16,000 19,844
Luk Fook Holdings International, Ltd. 30,000 87,259
Man Wah Holdings, Ltd. 14,800 21,730
Midland Holdings, Ltd. (I) 48,000 23,390
Natural Beauty Bio-Technology, Ltd. 20,000 1,492
New Times Energy Corp. Ltd. (I) 26,300 1,149
NewOcean Energy Holdings, Ltd. 106,000 53,226
Orient Overseas International, Ltd. 2,500 13,819
Pacific Andes International Holdings, Ltd. 218,671 10,539
Pacific Basin Shipping, Ltd. 166,000 89,562
Pacific Textile Holdings, Ltd. 54,000 66,466
Paliburg Holdings, Ltd. 46,000 14,976
Peace Mark Holdings, Ltd. (I) 164,000 0
Pearl Oriental Oil, Ltd. (I) 186,000 5,003
Pico Far East Holdings, Ltd. 100,000 22,578
Playmates Holdings, Ltd. 7,800 7,376
Playmates Toys, Ltd. 8,000 1,835
Png Resources Holdings Ltd. 88,800 4,289
Polytec Asset Holdings, Ltd. 150,000 21,264
PYI Corp., Ltd. 372,000 7,997
Regal Hotels International Holdings, Ltd. 36,000 21,834
SA SA International Holdings, Ltd. (L) 72,000 49,328
SEA Holdings, Ltd. 4,000 2,392
Shun Tak Holdings, Ltd. 144,250 70,803
Sing Tao News Corp., Ltd. 108,000 15,558
Singamas Container Holdings, Ltd. 114,000 20,838
SmarTone Telecommunications Holdings, Ltd. 39,500 55,014
SOCAM Development, Ltd. (I) 16,674 13,542
South China (China), Ltd. (I) 256,000 21,510
Stella International Holdings, Ltd. 20,000 51,897
Sun Hung Kai & Company, Ltd. 25,000 17,853
TAI Cheung Holdings, Ltd. 46,000 36,013
Tao Heung Holdings, Ltd. 14,000 7,753
Television Broadcasts, Ltd. 12,400 73,746
Texwinca Holdings, Ltd. 28,000 24,025
Titan Petrochemicals Group, Ltd. (I) 500,000 15,841
Tradelink Electronic Commerce, Ltd. 50,000 10,381
Transport International Holdings, Ltd. 19,200 35,350
Trinity, Ltd. 74,000 20,015
United Laboratories
       International Holdings, Ltd. (I) 16,000 12,049
Upbest Group, Ltd. 148,000 23,682
Value Partners Group, Ltd. 62,000 45,316
Varitronix International, Ltd. 18,000 14,521
Victory City International Holdings, Ltd. 105,827 15,928
Vitasoy International Holdings, Ltd. 86,000 109,554
VST Holdings, Ltd. 75,200 22,508
Wai Kee Holdings, Ltd. 68,000 19,504
Wing Tai Properties, Ltd. 102,000 66,199
Xinyi Glass Holdings, Ltd. 159,000 98,928
YGM Trading, Ltd. 10,000 21,865
Yugang International, Ltd. 312,000 4,251
3,187,924
India - 0.0%
Vedanta Resources PLC 2,671 43,037
Ireland - 1.7%
Aer Lingus Group PLC 15,850 28,345
Beazley PLC 47,871 210,508
C&C Group PLC 31,161 165,563
DCC PLC 6,369 352,573
Endo International PLC (I) 1,633 112,274
FBD Holdings PLC 1,839 34,039
Glanbia PLC 6,597 95,268
Grafton Group PLC 18,960 191,634
Greencore Group PLC 27,309 103,260
Henderson Group PLC 72,524 236,793
IFG Group PLC 8,615 17,152
Irish Continental Group PLC 3,794 13,202
Kingspan Group PLC 10,256 163,082
Paddy Power PLC 309 22,264
Smurfit Kappa Group PLC 2,832 61,900
UDG Healthcare PLC 20,187 108,113
1,915,970
Isle of Man - 0.0%
Hansard Global PLC 6,816 11,133
Playtech PLC 1,049 12,179
23,312
Israel - 0.7%
Africa Israel Investments, Ltd. (I) 7,409 12,839
Airport City, Ltd. (I) 1,528 15,442
Amot Investments, Ltd. 883 2,899
Cellcom Israel, Ltd. (I) 2,791 30,788
Ceragon Networks, Ltd. (I) 220 546
Clal Biotechnology Industries, Ltd. (I) 3,950 4,382
Clal Insurance Enterprise Holdings, Ltd. (I) 2,775 47,096
Compugen, Ltd. (I) 1,251 10,941
Delek Automotive Systems, Ltd. 4,159 45,144
Delta Galil Industries, Ltd. 618 17,957
Electra, Ltd. 37 5,190
EZchip Semiconductor, Ltd. (I)(L) 900 21,708
Frutarom Industries, Ltd. 2,853 72,395
Gilat Satellite Networks, Ltd. (I) 900 4,386
Hadera Paper, Ltd. (I) 244 9,375
Harel Insurance Investments &
       Financial Services, Ltd. 10,502 56,769
Israel Discount Bank, Ltd., Class A (I) 638 1,097
Ituran Location & Control, Ltd. 1,195 25,115
Jerusalem Oil Exploration (I) 782 33,707
Kamada, Ltd. (I) 1,616 7,293
Matrix IT, Ltd. 2,095 11,317
Mazor Robotics, Ltd. (I) 891 5,202
Melisron, Ltd. 420 11,298
Menorah Mivtachim Holdings, Ltd. 1,766 20,120
Mivtach Shamir Holdings, Ltd. 397 11,751
Naphtha Israel Petroleum Corp., Ltd. (I) 2,030 14,347

The accompanying notes are an integral part of the financial statements. 127


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

International Small Company Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
Israel (continued)
Nitsba Holdings 1995, Ltd. (I) 2,317 $ 37,851
Nova Measuring Instruments, Ltd. (I) 376 4,071
Oil Refineries, Ltd. (I) 53,675 19,619
Ormat Industries, Ltd. 7,009 49,372
Partner Communications Company, Ltd. (I) 2,939 20,933
Paz Oil Company, Ltd. 378 59,652
Rami Levi Chain Stores Hashikma
       Marketing 2006, Ltd. 711 35,175
Shikun & Binui, Ltd. 16,067 39,997
Shufersal, Ltd. 9,143 25,787
The Phoenix Holdings, Ltd. 2,821 9,075
Tower Semiconductor, Ltd. (I) 2,675 27,218
827,854
Italy - 3.5%
A2A SpA 67,835 67,059
ACEA SpA 8,580 103,851
Aeroporto di Venezia Marco Polo SpA 841 13,990
Amplifon SpA 9,264 51,790
Ansaldo STS SpA 10,934 123,235
Arnoldo Mondadori Editore SpA (I) 12,613 12,863
Ascopiave SpA 2,314 5,251
Astaldi SpA 4,499 34,168
Autogrill SpA (I) 9,730 76,350
Azimut Holding SpA 15,042 378,655
Banca Generali SpA 4,148 109,291
Banca IFIS SpA 1,301 25,685
Banca Popolare dell’Emilia Romagna SC (I) 28,867 228,257
Banca Popolare dell’Etruria e del Lazio (I) 13,061 10,702
Banca Popolare di Milano Scarl (I) 205,710 164,789
Banca Popolare di Sondrio SCARL 17,792 76,311
Banca Profilo SpA 24,032 10,423
Biesse SpA 1,877 19,206
Brembo SpA 2,573 84,056
Buzzi Unicem SpA 4,611 62,687
Cairo Communication SpA 2,348 16,460
Cementir SpA 6,150 36,626
CIR-Compagnie Industriali Riunite SpA (I) 39,165 44,357
Credito Emiliano SpA 9,474 78,029
Credito Valtellinese Scarl (I) 79,817 90,201
Danieli & C Officine Meccaniche SpA 2,311 59,415
Datalogic SpA 981 10,176
Davide Campari Milano SpA 9,928 71,508
De’Longhi SpA 2,796 56,026
DeA Capital SpA (I) 4,665 8,467
DiaSorin SpA 2,304 86,371
Ei Towers SpA (I) 1,086 57,491
Engineering SpA 449 22,350
ERG SpA 6,865 84,364
Esprinet SpA 3,554 28,189
Eurotech SpA (I) 1,562 3,504
Falck Renewables SpA 20,060 26,852
Geox SpA (L)(I) 8,390 27,902
Gruppo Editoriale L’Espresso SpA (I) 18,304 23,510
Hera SpA 62,355 165,002
IMMSI SpA (I) 6,756 4,682
Indesit Company SpA (I) 2,066 27,801
Industria Macchine Automatiche SpA 235 7,775
Interpump SpA 6,839 85,808
Iren SpA 48,658 61,012
Italcementi SpA 8,870 56,640
Italmobiliare SpA 827 26,652
Juventus Football Club SpA (I) 23,150 6,676
Landi Renzo SpA (I) 3,939 5,415
Maire Tecnimont SpA (I) 10,323 24,750
MARR SpA 2,608 40,415
Piaggio & C SpA (I) 17,916 48,159
Recordati SpA 11,787 192,778
Reply SpA 376 29,347
Safilo Group SpA (I) 2,378 32,353
Salvatore Ferragamo Italia SpA 966 26,438
Saras SpA (I) 23,795 23,998
Societa Cattolica di Assicurazioni SCRL 4,776 83,125
Societa Iniziative Autostradali e Servizi SpA 5,263 56,421
Sogefi SpA (I) 3,551 12,891
SOL SpA 2,802 21,957
Sorin SpA (I) 28,116 68,708
Trevi Finanziaria Industriale SpA 4,195 29,687
Unipol Gruppo Finanziario SpA 18,195 87,641
Vittoria Assicurazioni SpA 2,112 25,596
World Duty Free SpA (I) 4,187 47,723
Yoox SpA (I) 3,137 71,808
Zignago Vetro SpA 1,669 11,351
3,873,026
Japan - 22.4%
Accordia Golf Company, Ltd. 7,900 82,931
Achilles Corp. 10,000 14,002
Adastria Holdings Company, Ltd. 1,810 35,292
ADEKA Corp. 8,700 115,122
Advan Company, Ltd. 500 5,474
Aeon Delight Company, Ltd. 200 4,863
Ai Holdings Corp. 3,400 68,787
Aica Kogyo Company, Ltd. 4,700 99,862
Aichi Corp. 3,200 15,228
Aichi Steel Corp. 10,000 36,732
Aida Engineering, Ltd. 4,500 45,728
Ain Pharmaciez, Inc. 400 9,138
Aiphone Company, Ltd. 1,300 22,516
Airport Facilities Company, Ltd. 1,200 8,207
Aisan Industry Company, Ltd. 2,500 19,684
Akebono Brake Industry Company, Ltd. 2,300 9,716
Alpen Company, Ltd. 1,700 26,180
Alpha Systems, Inc. 840 12,256
Alpine Electronics, Inc. 3,300 54,488
Amano Corp. 6,100 65,233
Anest Iwata Corp. 1,800 13,146
Anritsu Corp. 9,800 74,669
AOKI Holdings, Inc. 4,000 46,035
Aoyama Trading Company, Ltd. 700 16,315
Arc Land Sakamoto Company, Ltd. 1,200 28,125
Arcs Company, Ltd. 3,125 65,375
Ariake Japan Company, Ltd. 1,900 42,590
Arisawa Manufacturing Company, Ltd. 2,900 20,264
Arrk Corp. (I) 4,200 5,929
As One Corp. 1,400 43,954
Asahi Company, Ltd. 1,500 16,809
Asahi Diamond Industrial Company, Ltd. 5,000 72,397
Asahi Holdings, Inc. 1,800 32,208
Asahi Intecc Company, Ltd. 1,000 45,777
Asahi Organic Chemicals
       Industry Company, Ltd. 6,000 14,599
Asatsu-DK, Inc. 2,300 57,692
ASKA Pharmaceutical Company, Ltd. 1,600 20,561
Atom Corp. 2,000 10,792
Atsugi Company, Ltd. 12,000 12,367
Autobacs Seven Company, Ltd. 4,300 66,779
Avex Group Holdings, Inc. 3,400 51,545

The accompanying notes are an integral part of the financial statements. 128


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

International Small Company Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
Japan (continued)
Axell Corp. 100 $ 1,545
Axial Retailing, Inc. 1,300 24,751
Azbil Corp. 500 12,270
Bando Chemical Industries, Ltd. 5,000 19,627
Bank of the Ryukyus, Ltd. 3,000 47,390
Belc Company, Ltd. 800 21,986
Belluna Company, Ltd. 2,100 9,226
Bic Camera, Inc. 3,300 31,104
Bit-isle, Inc. 1,100 6,034
BML, Inc. 900 28,407
Bookoff Corp. 1,400 10,698
Broadleaf Co Ltd. 500 8,045
Bunka Shutter Company, Ltd. 5,000 44,601
CAC Corp. 1,500 17,980
Calsonic Kansei Corp. 3,000 16,321
Can Do Company, Ltd. 900 13,838
Canon Electronics, Inc. 1,700 31,402
Capcom Company, Ltd. 900 14,126
Cawachi, Ltd. 1,400 23,977
Central Glass Company, Ltd. 19,000 67,262
Chino Corp. 400 4,638
Chiyoda Company, Ltd. 2,600 52,551
Chiyoda Integre Company, Ltd. 800 10,997
Chofu Seisakusho Company, Ltd. 2,100 57,125
Chubu Shiryo Company, Ltd. 2,000 12,432
Chudenko Corp. 2,600 42,518
Chuetsu Pulp & Paper Company, Ltd. 5,000 8,333
Chugai Mining Company, Ltd. (I) 34,900 9,560
Chugai Ro Company, Ltd. 5,000 10,460
Chugoku Marine Paints, Ltd. 4,000 30,060
CKD Corp. 5,400 49,053
Clarion Company, Ltd. (I)(L) 8,000 35,053
Cleanup Corp. 2,100 18,167
CMK Corp. 5,400 14,263
Coca-Cola West Company, Ltd. 600 8,737
Cocokara Fine, Inc. 1,540 40,284
Colowide Company, Ltd. 1,200 14,141
CONEXIO Corp. 1,900 18,838
Corona Corp. 300 3,179
Cosel Company, Ltd. 1,200 14,263
Cosmo Oil Company, Ltd. 34,000 57,325
Cybozu, Inc. 4,000 13,734
Dai Nippon Toryo Company, Ltd. 12,000 17,394
Dai-Dan Company, Ltd. 2,000 11,388
Daibiru Corp. 3,400 39,051
Daido Metal Company, Ltd. 3,000 39,012
Daidoh, Ltd. 2,000 9,973
Daifuku Company, Ltd. 6,500 76,521
Daihen Corp. 8,000 31,103
Daiichi Jitsugyo Company, Ltd. 4,000 22,400
Daiichikosho Company, Ltd. 1,100 29,571
Daiken Corp. 5,000 13,091
Daiken Medical Company, Ltd. 200 3,955
Daikoku Denki Company, Ltd. 800 14,076
Daikyo, Inc. 19,000 35,559
Dainichiseika Color & Chemicals
       Manufacturing Company, Ltd. 7,000 37,536
Dainippon Screen
       Manufacturing Company, Ltd. 12,000 61,290
Daio Paper Corp. 7,000 59,401
Daiseki Company, Ltd. 2,900 54,047
Daiso Company, Ltd. 7,000 22,913
Daisyo Corp. 800 9,804
Daiwa Industries, Ltd. 2,000 15,132
Daiwabo Holdings Company, Ltd. 17,000 32,934
DCM Holdings Company, Ltd. 7,700 52,792
Denki Kogyo Company, Ltd. 5,000 28,611
Denyo Company, Ltd. 900 12,273
Descente, Ltd. 4,000 34,532
Doshisha Company, Ltd. 2,400 41,161
Doutor Nichires Holdings Company, Ltd. 2,900 45,956
Dr. Ci:Labo Company, Ltd. 1,200 39,257
DTS Corp. 1,700 35,611
Dunlop Sports Company, Ltd. 1,300 15,014
Duskin Company, Ltd. 5,000 81,709
Dwango Company, Ltd. (L) 1,300 26,895
Dydo Drinco, Inc. 1,200 47,394
Eagle Industry Company, Ltd. 2,000 40,633
EDION Corp. 6,100 38,545
Eiken Chemical Company, Ltd. 1,400 23,934
Eizo Corp. 1,500 34,594
Elematec Corp. 700 13,387
en-japan, Inc. 400 7,770
EPS Corp. 1,800 23,268
ESPEC Corp. 1,600 15,269
Excel Company, Ltd. 900 18,479
Exedy Corp. 1,000 25,331
F@N Communications Inc. 2,000 22,921
Fancl Corp. 2,600 31,909
FCC Company, Ltd. 2,800 45,533
FDK Corp. (I) 11,000 18,484
Ferrotec Corp. 2,600 15,296
Fields Corp. 1,500 21,990
Financial Products Group Co Ltd. 900 8,385
Foster Electric Company, Ltd. 2,100 30,238
FP Corp. 1,100 30,734
France Bed Holdings Company, Ltd. 11,000 18,954
Fudo Tetra Corp. 10,800 27,336
Fuji Company, Ltd. 2,100 41,633
Fuji Corp., Ltd. 100 558
Fuji Electronics Company, Ltd. 800 10,065
Fuji Kyuko Company, Ltd. 1,000 11,357
Fuji Oil Company, Ltd. 4,400 15,561
Fuji Oil Company, Ltd. (Osaka) 5,800 85,688
Fuji Seal International, Inc. 1,700 53,361
Fuji Soft, Inc. 1,800 43,930
Fujibo Holdings, Inc. 7,000 20,549
Fujicco Company, Ltd. 2,000 25,886
Fujikura Kasei Company, Ltd. 2,000 10,105
Fujikura, Ltd. 15,000 72,213
Fujimi, Inc. 500 7,075
Fujimori Kogyo Company, Ltd. 1,100 33,001
Fujisash Company, Ltd. (I) 4,900 7,091
Fujitec Company, Ltd. 5,000 54,575
Fujitsu General, Ltd. 5,000 61,420
Fujiya Company, Ltd. 6,000 10,760
Fukushima Industries Corp. 1,200 23,073
Funai Consulting, Ltd. 2,000 18,456
Funai Electric Company, Ltd. 2,600 26,680
Furukawa Company, Ltd. 19,000 39,299
Furukawa Electric Company, Ltd. 7,000 14,067
Furuno Electric Company, Ltd. 2,400 23,680
Fuso Pharmaceutical Industries, Ltd. 5,000 14,864
Futaba Corp. 2,900 43,574
Futaba Industrial Company, Ltd. 3,400 19,754
Future Architect, Inc. 200 1,178

The accompanying notes are an integral part of the financial statements. 129


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

International Small Company Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Japan (continued)
Fuyo General Lease Company, Ltd. 1,700 $ 66,438
G-Tekt Corp. 600 5,732
Gakken Company, Ltd. 4,000 10,093
Gecoss Corp. 400 6,129
Geo Corp. 3,900 33,606
GLOBERIDE, Inc. 10,000 12,675
GMO Payment Gateway, Inc. 600 13,558
Godo Steel, Ltd. 16,000 23,481
Goldcrest Company, Ltd. 1,690 30,812
Goldwin, Inc. 5,000 25,746
Gulliver International Company, Ltd. 5,500 46,787
Gun-Ei Chemical Industry Company, Ltd. 4,000 13,400
Gunze, Ltd. 13,000 36,520
H20 Retailing Corp. 2,835 47,468
Hakuto Company, Ltd. 1,300 13,106
Hamakyorex Company, Ltd. 500 17,320
Hanwa Company, Ltd. 14,000   52,358
Happinet Corp. 1,000 15,968
Harima Chemicals, Inc. 2,000 9,780
Hazama Ando Corp. 10,090   64,517
Heiwa Corp. 600 11,855
Heiwa Real Estate Company, Ltd. 2,800 44,110
Heiwado Company, Ltd. 2,000 33,618
Hibiya Engineering, Ltd. 1,500 21,704
Hiday Hidaka Corp. 984 26,106
Higashi Nihon House Company Ltd. 1,000 4,835
Higo Bank, Ltd. 5,000 27,503
Hioki EE Corp. 500 7,821
Hiramatsu, Inc. 300 1,741
Hisaka Works, Ltd. 2,000 18,838
Hitachi Koki Company, Ltd. 5,700 49,630
Hitachi Kokusai Electric, Inc. 4,000 56,406
Hitachi Transport System, Ltd. 2,200 28,419
Hitachi Zosen Corp. 13,600 80,222
Hodogaya Chemical Company, Ltd. 7,000 12,317
Hogy Medical Company, Ltd. 1,200 63,595
Hokkaido Gas Company, Ltd. 3,000 7,982
Hokkan Holdings, Ltd. 5,000 13,593
Hokuetsu Industries Company, Ltd. 2,000 20,381
Hokuetsu Paper Mills, Ltd. 9,500 38,991
Hokuto Corp. 1,600 28,869
Honeys Company, Ltd. 1,350 14,243
Hoosiers Holdings Company, Ltd. 1,500 6,858
Horiba, Ltd. 2,500 90,659
Hosiden Corp. 4,400 23,837
Hosokawa Micron Corp. 3,000 17,806
Hyakujushi Bank, Ltd. 21,000 67,251
IBJ Leasing Company, Ltd. 1,900 44,230
Ichikoh Industries, Ltd. 4,000 9,930
Ichiyoshi Securities Company, Ltd. 2,800 33,556
ICOM, Inc. 500 12,532
Idec Corp. 2,500 20,848
Ihara Chemical Industry Company, Ltd. 3,400 31,026
Iino Kaiun Kaisha, Ltd. 5,200 29,670
Ikegami Tsushinki Company, Ltd. 4,000 4,637
Ikyu Corp. 200 2,747
Imasen Electric Industrial 1,700 35,798
Imperial Hotel, Ltd. 200 4,341
Inaba Denki Sangyo Company, Ltd. 1,600 53,776
Inaba Seisakusho Company, Ltd. 200 2,424
Inabata & Company, Ltd. 5,100 51,404
Inageya Company, Ltd. 2,900 31,265
Ines Corp. 2,700 22,821
Intage, Inc. 1,600 20,105
Internet Initiative Japan, Inc. 2,400 48,204
Inui Steamship Company, Ltd. 2,500 8,548
Iriso Electronics Company, Ltd. 200 15,914
Iseki & Company, Ltd. 12,000 29,446
Ishihara Sangyo Kaisha, Ltd. (I) 32,000 26,241
IT Holdings Corp. 6,500 113,612
Itochu Enex Company, Ltd. 5,900 37,997
Itochu-Shokuhin Company, Ltd. 600 19,819
Itoham Foods, Inc. 12,000 57,505
IwaiCosmo Holdings, Inc. 900 8,977
Iwatani Corp. 11,000 76,137
J-Oil Mills, Inc. 9,000 29,668
Jalux, Inc. 1,000 11,550
Jamco Corp. 100 2,220
Janome Sewing Machine Company, Ltd. (I) 12,000 19,250
Japan Aviation Electronics Industry, Ltd. 4,000 91,240
Japan Communications, Inc. (I) 6,000 33,263
Japan Digital Laboratory Company, Ltd. 1,500 27,768
Japan Drilling Company, Ltd. 400 17,947
Japan Pulp & Paper Company, Ltd. 6,000 18,053
Japan Radio Company, Ltd. (I) 3,000 10,415
Japan Transcity Corp., Ltd. 5,000 17,103
Japan Vilene Company, Ltd. 2,000 11,036
Jastec Company, Ltd. 400 3,260
JBCC Holdings, Inc. 1,900 14,039
Jin Company, Ltd. 800 21,554
JMS Company, Ltd. 1,000 2,707
Joshin Denki Company, Ltd. 3,000 26,830
Jowa Holdings Company, Ltd. 300 10,312
JSP Corp. 1,200 20,829
Juroku Bank, Ltd. 6,000 22,494
JVC Kenwood Corp. 9,070 22,672
K&O Energy Group, Inc. 1,500 19,562
kabu.com Securities Company, Ltd. 5,700 27,876
Kadokawa Holdings, Inc. 2,000 47,905
Kaga Electronics Company, Ltd. 1,100 12,682
Kaken Pharmaceutical Company, Ltd. 2,000 45,095
Kameda Seika Company, Ltd. 1,000 29,947
Kamei Corp. 2,000 14,524
Kanamoto Company, Ltd. 2,400 88,765
Kandenko Company, Ltd. 7,000 35,337
Kanematsu Corp. 40,000 64,282
Kanematsu Electronics, Ltd. 1,300 17,224
Kasumi Company, Ltd. 4,200 38,248
Katakura Industries Company, Ltd. 2,100 26,181
Kato Sangyo Company, Ltd. 2,200 46,089
Kawai Musical Instruments
       Manufacturing Company, Ltd. 600 11,364
KEY Coffee, Inc. 800 11,995
Kimoto Company, Ltd. 3,000 8,663
Kintetsu World Express, Inc. 1,300 49,573
Kinugawa Rubber Industrial Company, Ltd. 3,000 12,753
Kissei Pharmaceutical Company, Ltd. 3,000 75,222
Kitz Corp. 7,800 38,927
Koa Corp. 2,300 24,281
Koatsu Gas Kogyo Company, Ltd. 3,000 16,188
Kohnan Shoji Company, Ltd. 1,800 20,039
Kohsoku Corp. 1,400 12,030
Kojima Company, Ltd. 3,000 8,393
Kokuyo Company, Ltd. 8,300 66,905
Komatsu Seiren Company, Ltd. 2,000 10,422
Komeri Company, Ltd. 500 11,359

The accompanying notes are an integral part of the financial statements. 130


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

International Small Company Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Japan (continued)
Komori Corp. 6,300 $ 76,699
Konishi Company, Ltd. 1,100 19,735
Kumiai Chemical Industry Company, Ltd. 4,000 24,510
Kura Corp. 800 22,306
Kurabo Industries, Ltd. 16,000 27,139
Kureha Corp. 12,000 59,142
Kurimoto, Ltd. 10,000 21,790
Kuroda Electric Company, Ltd. 2,400 35,196
KYB Company, Ltd. 2,000 9,007
Kyodo Printing Company, Ltd. 8,000 28,589
Kyodo Shiryo Company, Ltd. 8,000 7,294
Kyoei Steel, Ltd. 1,100 20,456
Kyokuto Kaihatsu Kogyo Company, Ltd. 900 13,032
Kyokuyo Company, Ltd. 7,000   16,605
KYORIN Holdings, Inc. 3,100 62,953
Kyoritsu Maintenance Company, Ltd. 900   36,563
Kyosan Electric Manufacturing Company, Ltd. 2,000 6,395
Kyowa Exeo Corp. 6,700 87,022
Kyudenko Corp. 2,000 23,716
LEC, Inc. 700 7,193
Leopalace21 Corp. (I) 11,700 64,270
Life Corp. 2,700 42,792
Lintec Corp. 1,600 33,823
Lion Corp. 7,000 37,643
Macnica, Inc. 900 28,709
Maeda Corp. 10,000 80,220
Maeda Road Construction Company, Ltd. 3,000 46,630
Maezawa Kasei Industries Company, Ltd. 1,100 11,781
Maezawa Kyuso Industries Company, Ltd. 900 10,941
Makino Milling Machine Company, Ltd. 8,000 59,201
Mandom Corp. 1,400 48,270
Mani, Inc. 200 11,985
Mars Engineering Corp. 700 12,355
Marubun Corp. 200 1,312
Marudai Food Company, Ltd. 8,000 29,885
Maruha Nichiro Corp. 2,738 40,794
Marusan Securities Company, Ltd. 5,400 38,825
Maruwa Company, Ltd. 600 18,813
Marvelous AQL, Inc. 500 5,837
Matsuda Sangyo Company, Ltd. 1,400 16,380
Matsumotokiyoshi Holdings Company, Ltd. 500 14,758
Matsuya Foods Company, Ltd. 700 13,577
Max Company, Ltd. 3,000 34,473
Megmilk Snow Brand Company, Ltd. 4,600 60,123
Meidensha Corp. 17,000 67,037
Meiji Shipping Company, Ltd. 2,000 7,327
Meiko Network Japan Company, Ltd. 3,000 32,932
Meitec Corp. 2,700 80,256
Meito Sangyo Company, Ltd. 900 9,851
Melco Holdings, Inc. 1,200 22,905
Message Company, Ltd. 700 24,036
Milbon Company, Ltd. 1,056 35,055
Mimasu Semiconductor Industry Company, Ltd. 1,400 12,557
Ministop Company, Ltd. 1,100 15,333
Mirait Holdings Corp. 5,440 62,982
Misawa Homes Company, Ltd. 2,000 20,294
Mitsuba Corp. 3,400 59,418
Mitsubishi Paper Mills, Ltd. (I) 26,000 21,083
Mitsubishi Pencil Company, Ltd. 1,600 51,524
Mitsubishi Steel Manufacturing Company, Ltd. 10,000 22,227
Mitsuboshi Belting Company, Ltd. 4,000 26,241
Mitsui Engineering &
       Shipbuilding Company, Ltd. 29,000 65,314
Mitsui High-Tec, Inc. 2,200 14,262
Mitsui Home Company, Ltd. 3,000 13,437
Mitsui Knowledge Industry Company, Ltd. 9,000 20,946
Mitsui Matsushima Company, Ltd. 10,000 12,594
Mitsui Mining & Smelting Company, Ltd. 6,000 15,979
Mitsui Sugar Company, Ltd. 8,000 26,786
Mitsui-Soko Company, Ltd. 3,000 11,107
Mitsuuroko Holdings Company, Ltd. 3,200 15,913
Miura Company, Ltd. 3,000 35,310
Miyazaki Bank, Ltd. 14,000 42,990
Mizuno Corp. 7,000 37,093
Mochida Pharmaceutical Company, Ltd. 200 13,507
Monex Group, Inc. 12,300 32,082
Monotaro Company, Ltd. 1,100 27,534
Morinaga & Company, Ltd. 14,000 30,243
Morinaga Milk Industry Company, Ltd. 14,000 44,945
Morita Holdings Corp. 3,000 31,330
MOS Food Services, Inc. 200 3,985
Moshi Moshi Hotline, Inc. 4,400 41,729
Musashi Seimitsu Industry Company, Ltd. 1,800 35,640
Musashino Bank, Ltd. 3,800 126,167
Nachi-Fujikoshi Corp. 11,000 80,444
Nagaileben Company, Ltd. 1,800 34,945
Nagatanien Company, Ltd. 2,000 19,602
Nakamuraya Company, Ltd. 3,000 11,768
Nakanishi, Inc. 300 11,044
Nakayama Steel Works, Ltd. (I) 11,000 8,514
NEC Capital Solutions, Ltd. 800 15,794
NEC Networks & System Integration Corp. 2,700 61,023
NET One Systems Company, Ltd. 6,400 36,971
Neturen Company, Ltd. 2,300 17,035
Nice Holdings, Inc. 6,000 11,868
Nichi-iko Pharmaceutical Company, Ltd. 3,100 50,180
Nichias Corp. 7,000 46,341
Nichicon Corp. 4,600 33,062
Nichiden Corp. 700 14,811
Nichiha Corp. 1,600 15,939
Nichii Gakkan Company, Ltd. 3,200 25,362
NICHIREI Corp. 12,000 50,455
Nichireki Company, Ltd. 2,000 16,781
Nifco, Inc. 2,700 83,272
Nihon Dempa Kogyo Company, Ltd. 1,800 14,566
Nihon Kagaku Sangyo Company, Ltd. 1,000 6,796
Nihon M&A Center, Inc. 2,400 69,626
Nihon Nohyaku Company, Ltd. 4,000 39,241
Nihon Parkerizing Company, Ltd. 4,000 91,453
Nihon Shokuhin Kako Company, Ltd. 2,000 6,512
Nihon Unisys, Ltd. 500 4,516
Nikkiso Company, Ltd. 5,100 56,216
Nippon Beet Sugar
       Manufacturing Company, Ltd. 15,000 26,358
Nippon Carbon Company, Ltd. 6,000 10,384
Nippon Ceramic Company, Ltd. 1,400 20,887
Nippon Chemi-Con Corp. (I) 11,000 33,639
Nippon Chemical Industrial Company, Ltd. (I) 7,000 10,084
Nippon Coke & Engineering Company, Ltd. 18,000 18,713
Nippon Denko Company, Ltd. 6,530 16,216
Nippon Densetsu Kogyo Company, Ltd. 4,300 68,930
Nippon Fine Chemical Company, Ltd. 800 5,826
Nippon Flour Mills Company, Ltd. 13,000 62,906
Nippon Formula Feed
       Manufacturing Company, Ltd. 8,000 8,315
Nippon Gas Company, Ltd. 2,000 47,396

The accompanying notes are an integral part of the financial statements. 131


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

International Small Company Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Japan (continued)
Nippon Hume Corp. 2,000 $ 16,752
Nippon Kanzai Company, Ltd. 700 18,543
Nippon Koei Company, Ltd. 8,000 32,714
Nippon Konpo Unyu Soko Company, Ltd. 6,000 100,610
Nippon Koshuha Steel Company, Ltd. (I) 8,000 8,104
Nippon Light Metal Holdings Company, Ltd. 43,000 61,948
Nippon Seiki Company, Ltd. 4,000 90,792
Nippon Sharyo, Ltd. 6,000 21,560
Nippon Sheet Glass Company, Ltd. (I) 11,000 12,136
Nippon Shinyaku Company, Ltd. 4,000 121,059
Nippon Soda Company, Ltd. 14,000 71,543
Nippon Steel & Sumikin Bussan Corp. 9,720 37,482
Nippon Steel & Sumikin Texeng Company, Ltd. 5,000 26,816
Nippon Suisan Kaisha, Ltd. (I) 15,600 41,092
Nippon Synthetic Chemical
       Industry Company, Ltd. 3,000 21,625
Nippon Thompson Company, Ltd. 6,000 31,020
Nippon Valqua Industries, Ltd. 8,000 23,070
Nippon Yakin Kogyo Company, Ltd. (I) 10,000 25,344
Nipro Corp. (L) 7,000 58,136
Nishi-Nippon Railroad Company, Ltd. 14,000 52,807
Nishimatsu Construction Company, Ltd. 29,000 130,963
Nishimatsuya Chain Company, Ltd. 5,100 39,845
Nishio Rent All Company, Ltd. 800 30,884
Nissei ASB Machine Company, Ltd. 500 9,936
Nissei Build Kogyo Company, Ltd. 4,000 10,061
Nisshin Fudosan Company, Ltd. 5,800 24,654
Nisshin Oillio Group, Ltd. 13,000 43,744
Nisshin Steel Company, Ltd. 1,560 14,178
Nisshinbo Holdings, Inc. 9,000 75,680
Nissin Corp. 4,000 10,489
Nissin Electric Company, Ltd. 5,000 29,722
Nissin Kogyo Company, Ltd. 2,100 34,585
Nitta Corp. 2,300 55,888
Nittan Valve Company, Ltd. 1,200 3,731
Nittetsu Mining Company, Ltd. 6,000 24,501
Nitto Boseki Company, Ltd. 13,000 50,067
Nitto Kogyo Corp. 2,900 58,198
Nitto Kohki Company, Ltd. 1,000 19,368
Noevir Holdings Company, Ltd. 1,600 30,197
NOF Corp. 16,000 99,808
Nohmi Bosai, Ltd. 2,000 31,282
Nomura Company, Ltd. 3,200 29,693
Noritake Company, Ltd. 12,000 29,204
Noritsu Koki Company, Ltd. 1,900 11,181
Noritz Corp. 1,000 17,657
NS Solutions Corp. 1,500 44,658
NS United Shinwa Kaiun Kaisha, Ltd. 8,000 19,781
NSD Company, Ltd. 1,900 29,909
Obara Group, Inc. 1,400 51,347
Oenon Holdings, Inc. 6,000 13,439
Ohsho Food Service Corp. 700 27,062
Oiles Corp. 2,880 55,498
Okabe Company, Ltd. 3,900 42,790
Okamoto Industries, Inc. 7,000 26,581
Okamura Corp. 7,000 53,030
Oki Electric Industry Company, Ltd. 50,000 116,998
Okinawa Cellular Telephone Company 400 10,757
OKUMA Corp. 6,000 47,955
Okumura Corp. 12,000 70,107
Okura Industrial Company, Ltd. 4,000 14,275
Okuwa Company, Ltd. 3,000 27,008
Onoken Company, Ltd. 1,500 16,893
Onward Holdings Company, Ltd. 2,000 12,488
Optex Company, Ltd. 1,200 21,681
Organo Corp. 3,000 13,730
Origin Electric Company, Ltd. 3,000 11,299
Osaka Steel Company, Ltd. 1,400 27,215
OSAKA Titanium Technologies Company 600 13,513
Osaki Electric Company, Ltd. 3,000 17,499
OSG Corp. 5,200 90,169
Oyo Corp. 1,300 22,120
Pacific Industrial Company, Ltd. 3,400 25,745
Pacific Metals Company, Ltd. 9,000 31,387
Pal Company, Ltd. 1,100 29,867
PanaHome Corp. 7,000 48,679
Panasonic Information Systems 1,000 27,456
Parco Company, Ltd. 800 6,477
Paris Miki Holdings, Inc. 1,100 4,912
Penta-Ocean Construction Company, Ltd. 14,500 48,833
Pilot Corp. 1,600 91,057
Piolax, Inc. 700 32,768
Pioneer Corp. (I) 18,800 51,686
Plenus Company, Ltd. 1,900 43,674
Press Kogyo Company, Ltd. 7,000 28,852
Prima Meat Packers, Ltd. 10,000 24,846
Pronexus, Inc. 600 4,226
Proto Corp. 200 2,915
Raito Kogyo Company, Ltd. 4,200 39,027
Relo Holdings, Inc. 200 13,800
Rengo Company, Ltd. 16,000 71,879
Resorttrust, Inc. 3,000 67,115
Ricoh Leasing Company, Ltd. 2,100 58,538
Riken Corp. 9,000 38,086
Riken Keiki Company, Ltd. 1,300 13,051
Riken Technos Corp. 3,000 13,881
Riken Vitamin Company, Ltd. 700 17,074
Ringer Hut Company, Ltd. 100 1,533
Rock Field Company, Ltd. 1,000 17,691
Round One Corp. 3,800 22,833
Royal Holdings Company, Ltd. 2,300 37,131
Ryobi, Ltd. 16,000 46,684
Ryoden Trading Company, Ltd. 3,000 22,485
Ryosan Company, Ltd. 2,600 56,050
Ryoyo Electro Corp. 1,600 16,462
S Foods, Inc. 500 8,432
Saibu Gas Company, Ltd. 19,000 45,175
Saizeriya Company, Ltd. 2,100 28,097
Sakai Chemical Industry Company, Ltd. 9,000 29,027
Sakata INX Corp. 3,100 30,962
Sakata Seed Corp. 2,900 36,953
Sala Corp. 1,500 8,599
San-A Company, Ltd. 1,400 46,651
San-Ai Oil Company, Ltd. 5,000 34,776
Sangetsu Company, Ltd. 3,400 85,587
Sanix, Inc. (I) 1,900 12,376
Sanken Electric Company, Ltd. 12,000 100,738
Sanki Engineering Company, Ltd. 4,000 29,812
Sanko Marketing Foods Company, Ltd. 200 1,676
Sankyo Seiko Company, Ltd. 3,200 11,845
Sankyo Tateyama, Inc. 2,200   42,723
Sankyu, Inc. 8,000 42,754
Sanshin Electronics Company, Ltd. 2,600 19,383
Sanwa Shutter Corp. 10,000 71,108
Sanyo Chemical Industries, Ltd. 6,000   36,910
Sanyo Denki Company, Ltd. 3,000 25,158

The accompanying notes are an integral part of the financial statements. 132


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

International Small Company Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Japan (continued)
Sanyo Electric Railway Company, Ltd. 2,000 $ 8,508
Sanyo Shokai, Ltd. 7,000 15,404
Sanyo Special Steel Company, Ltd. 10,000 36,930
Sapporo Holdings, Ltd. 18,000 69,218
Sasebo Heavy Industries Company, Ltd. (I) 9,000 12,145
Sato Holdings Corp. 1,700 47,830
Sato Restaurant Systems Co Ltd. 500 3,851
Seikagaku Corp. 3,300 49,633
Seikitokyu Kogyo Company, Ltd. 1,600 8,875
Seiren Company, Ltd. 5,200 46,501
Sekisui Jushi Corp. 3,000 40,505
Sekisui Plastics Company, Ltd. 5,000 13,921
Senko Company, Ltd. 9,000 39,105
Senshu Ikeda Holdings, Inc. 5,400 27,776
Senshukai Company, Ltd. 4,400 35,279
Seria Company, Ltd. 1,300 49,561
Shibusawa Warehouse Company, Ltd. 5,000 15,458
Shibuya Kogyo Company, Ltd. 800 21,457
Shikibo, Ltd. 11,000 12,443
Shikoku Chemicals Corp. 3,000 20,515
Shima Seiki Manufacturing, Ltd. 2,300   37,798
Shimachu Company, Ltd. 3,800 87,789
Shin-Etsu Polymer Company, Ltd. 3,000   15,870
Shinagawa Refractories Company, Ltd. 6,000 15,980
Shindengen Electric
       Manufacturing Company, Ltd. 5,000 34,129
Shinkawa, Ltd. 1,500 7,414
Shinko Electric Industries Company, Ltd. 5,100 37,163
Shinko Plantech Company, Ltd. 3,300 25,322
Shinko Shoji Company, Ltd. 2,700 26,481
Shinmaywa Industries, Ltd. 9,000 82,026
Ship Healthcare Holdings, Inc. 2,600 83,164
Shizuoka Gas Company, Ltd. 4,500 29,946
Shochiku Company, Ltd. 1,000 9,298
Showa Corp. 3,500 38,335
Showa Sangyo Company, Ltd. 7,000 25,594
Siix Corp. 1,600 27,820
Sinanen Company, Ltd. 4,000 16,169
Sinko Industries Ltd. 200 1,846
Sintokogio, Ltd. 4,600 32,226
SMK Corp. 6,000 29,155
SMS Company, Ltd. 800 20,583
Sogo Medical Company, Ltd. 300 14,611
ST Corp. 1,100 10,015
St. Marc Holdings Company, Ltd. 700 35,341
Star Micronics Company, Ltd. 2,600 38,221
Starbucks Coffee Japan, Ltd. 400 5,332
Starzen Company, Ltd. 6,000 18,690
Stella Chemifa Corp. 800 11,619
Suminoe Textile Company, Ltd. 5,000 15,681
Sumitomo Bakelite Company, Ltd. 10,000 39,220
Sumitomo Densetsu Company, Ltd. 1,300 17,236
Sumitomo Mitsui Company, Ltd. (I) 30,000 36,112
Sumitomo Osaka Cement Company, Ltd. 16,000 52,530
Sumitomo Real Estate Sales Company, Ltd. 200 4,604
Sumitomo Seika Chemicals Company, Ltd. 4,000 22,901
Sumitomo Warehouse Company, Ltd. 14,048 74,151
SWCC Showa Holdings Company, Ltd. (I) 24,000 23,827
Systena Corp. 100 763
T Hasegawa Company, Ltd. 1,600 24,458
T-Gaia Corp. 300 2,870
Tabuchi Electric Company, Ltd. 2,000 21,381
Tachi-S Company, Ltd. 1,900 27,518
Tachibana Eletech Company, Ltd. 300 4,089
Tadano, Ltd. 8,000 147,299
Taihei Dengyo Kaisha, Ltd. 3,000 23,925
Taiho Kogyo Company, Ltd. 2,500 28,573
Taikisha, Ltd. 2,100 46,936
Taisei Lamick Company, Ltd. 500 12,278
Taiyo Holdings Company, Ltd. 1,300 41,493
Taiyo Yuden Company, Ltd. 7,400 82,826
Takamatsu Construction Group Company, Ltd. 1,500 28,058
Takaoka Toko Holdings Co Ltd. 700 9,842
Takara Leben Company, Ltd. 6,300 23,448
Takara Standard Company, Ltd. 7,000 59,880
Takasago International Corp. 6,000 28,429
Takasago Thermal Engineering Company, Ltd. 5,700 73,605
Take and Give Needs Company, Ltd. 200 2,143
Takeei Corp. 700 7,055
Takihyo Company, Ltd. 3,000 11,463
Takiron Company, Ltd. 3,000 15,066
Takuma Company, Ltd. 6,000 38,090
Tamron Company, Ltd. 1,500 28,822
Tamura Corp. 7,000 29,140
Tatsuta Electric Wire & Cable Company, Ltd. 4,200 22,350
Tecmo Koei Holdings Company, Ltd. 2,100 33,887
Teikoku Sen-I Company, Ltd. 2,000 42,267
Tenma Corp. 1,000 14,553
The Aichi Bank, Ltd. 900 45,000
The Akita Bank, Ltd. 15,000 41,892
The Aomori Bank, Ltd. 15,000 45,547
The Awa Bank, Ltd. 5,000 28,803
The Bank of Iwate, Ltd. 1,400 61,820
The Bank of Nagoya, Ltd. 17,000 64,962
The Bank of Okinawa, Ltd. 2,100 92,344
The Bank of Saga, Ltd. 10,000 22,973
The Chiba Kogyo Bank, Ltd. 3,200 23,036
The Chukyo Bank, Ltd. 9,000 16,176
The Daiei, Inc. (I) 17,500 19,974
The Daisan Bank, Ltd. 17,000 28,346
The Daishi Bank, Ltd. 27,000 94,255
The Ehime Bank, Ltd. 13,000 29,048
The Eighteenth Bank, Ltd. 10,000 27,702
The Fukui Bank, Ltd. 18,000 43,116
The Fukushima Bank, Ltd. 21,000 16,459
The Higashi-Nippon Bank, Ltd. 9,000 22,802
The Hokkoku Bank, Ltd. 5,000 17,010
The Hokuetsu Bank, Ltd. 21,000 40,216
The Hyakugo Bank, Ltd. 20,000 80,296
The Japan Steel Works, Ltd. 6,000 24,107
The Japan Wool Textile Company, Ltd. 4,000 27,636
The Kagoshima Bank, Ltd. 2,000 12,708
The Kinki Sharyo Company, Ltd. 3,000 9,412
The Kita-Nippon Bank, Ltd. 700 16,945
The Kiyo Bank, Ltd. 5,300 75,580
The Maruetsu, Inc. 3,000 14,306
The Michinoku Bank, Ltd. 14,000 27,166
The Minato Bank, Ltd. 16,000 31,501
The Nagano Bank, Ltd. 8,000 13,851
The Nippon Road Company, Ltd. 7,000 39,230
The Nippon Signal Company, Ltd. 2,700 27,756
The Ogaki Kyoritsu Bank, Ltd. 27,000 73,095
The Oita Bank, Ltd. 12,000 45,223
The Okinawa Electric Power Company, Inc. 1,300 40,237
The Pack Corp. 1,300 27,222
The San-In Godo Bank, Ltd. 8,000 56,468

The accompanying notes are an integral part of the financial statements. 133


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

International Small Company Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)  
Japan (continued)
The Shiga Bank, Ltd. 7,000 $ 38,553
The Shikoku Bank, Ltd. 15,000 32,272
The Shimizu Bank, Ltd. 900 24,401
The Tochigi Bank, Ltd. 8,000 31,360
The Toho Bank, Ltd. 18,000 67,128
The Tohoku Bank, Ltd. 4,000 5,654
The Tokyo Tomin Bank, Ltd. 2,800 33,674
The Torigoe Company, Ltd. 2,300 15,214
The Tottori Bank, Ltd. 4,000 8,346
The Towa Bank, Ltd. 21,000 18,949
The Yachiyo Bank, Ltd. 1,300 41,190
The Yamagata Bank, Ltd. 16,000 74,991
The Yamanashi Chuo Bank, Ltd. 13,000 57,047
The Yasuda Warehouse Company, Ltd. 1,400 13,321
Tigers Polymer Corp. 1,000 6,324
TKC Corp. 1,500 29,591
Toa Corp. 1,400 14,687
TOA Corp. 22,000 41,075
Toagosei Company, Ltd. 18,000 74,307
Tobishima Corp. (I) 7,200 16,272
TOC Company, Ltd. 5,400 34,913
Tocalo Company, Ltd. 1,300 27,041
Toda Corp. 17,000 85,528
Toda Kogyo Corp. 3,000 11,283
Toei Company, Ltd. 5,000 25,943
Toenec Corp. 3,000 16,399
Toho Company, Ltd. 3,000 11,130
Toho Holdings Company, Ltd. 3,200 61,222
Toho Zinc Company, Ltd. 10,000 38,075
Tokai Carbon Company, Ltd. 17,000 47,090
TOKAI Holdings Corp. 4,000 17,244
Tokai Rika Company, Ltd. 600 12,695
Tokai Rubber Industries, Ltd. 2,400 21,223
Token Corp. 810 37,057
Tokushu Tokai Paper Company, Ltd. 15,000 35,401
Tokuyama Corp. 23,000 75,814
Tokyo Derica Company, Ltd. 600 9,251
Tokyo Dome Corp. 11,000 46,361
Tokyo Energy & Systems, Inc. 2,000 13,529
Tokyo Keiki, Inc. 5,000 12,785
Tokyo Ohka Kogyo Company, Ltd. 3,400 89,984
Tokyo Rakutenchi Company, Ltd. 2,000 9,075
Tokyo Seimitsu Company, Ltd. 2,600 43,726
Tokyo Tekko Company, Ltd. 4,000 20,419
Tokyo Theatres Company, Inc. 9,000 11,900
Tomato Bank, Ltd. 11,000 18,037
Tomen Devices Corp. 200 3,320
Tomen Electronics Corp. 1,900 28,453
Tomoe Corp. 2,200 9,247
Tomoe Engineering Company, Ltd. 800 14,107
Tomoku Company, Ltd. 6,000 16,618
TOMONY Holdings, Inc. 15,000 63,120
Tomy Company, Ltd. 4,500 25,023
Tonami Holdings Company, Ltd. 6,000 13,457
Topcon Corp. 700 15,953
Toppan Forms Company, Ltd. 5,600 57,729
Topre Corp. 4,300 61,171
Topy Industries, Ltd. 18,000 35,465
Toridoll Corp. 1,400 16,641
Torii Pharmaceutical Company, Ltd. 1,100 30,476
Torishima Pump Manufacturing Company, Ltd. 900 7,478
Tosei Corp. 1,300 8,272
Toshiba Machine Company, Ltd. 8,000 36,488
Toshiba Plant Systems & Services Corp. 2,000 33,716
Tosho Printing Company, Ltd. 3,000 13,609
Totetsu Kogyo Company, Ltd. 2,200 51,912
Towa Corp. 2,200 13,786
Towa Pharmaceutical Company, Ltd. 700 30,644
Toyo Corp. 2,300 23,801
Toyo Electric Manufacturing Company, Ltd. 3,000 12,736
Toyo Ink SC Holdings Company, Ltd. 15,000 70,065
Toyo Kanetsu KK 4,000 9,708
Toyo Kohan Company, Ltd. 4,000 21,675
Toyo Securities Company, Ltd. 6,000 16,575
Toyo Tanso Company, Ltd. 1,000 20,668
Toyo Wharf & Warehouse Company, Ltd. 6,000 12,191
Toyobo Company, Ltd. 32,936 47,774
TPR Company, Ltd. 1,400 33,755
Trancom Company, Ltd. 600 26,948
Transcosmos, Inc. 2,300 45,082
Trusco Nakayama Corp. 2,500 64,752
TS Tech Company, Ltd. 800 19,457
TSI Holdings Company, Ltd. 9,970 69,915
Tsubakimoto Chain Company, Ltd. 8,000 66,016
Tsugami Corp. 6,000 33,352
Tsukishima Kikai Company, Ltd. 2,000 22,310
Tsukuba Bank, Ltd. 5,700 19,227
Tsukui Corp. 600 5,973
Tsumura & Company 3,800 84,685
Tsurumi Manufacturing Company, Ltd. 1,000 16,120
Tsutsumi Jewelry Company, Ltd. 700 17,037
U-Shin, Ltd. 2,300 14,486
UACJ Corp. 19,034 72,436
Uchida Yoko Company, Ltd. 4,000 13,785
Ulvac, Inc. (I) 2,900 36,497
Uniden Corp. 9,000 20,361
Union Tool Company, Ltd. 700 19,252
Unipres Corp. 2,600 51,017
United Arrows, Ltd. 2,100 77,646
Universal Entertainment Corp. 600 9,822
UNY Group Holdings Company, Ltd. 6,000 31,890
Usen Corp. (I) 3,300 9,442
Valor Company, Ltd. 4,000 64,699
Vital KSK Holdings, Inc. 3,500 30,707
VT Holdings Company, Ltd. 1,500 5,379
Wacoal Holdings Corp. 5,000 48,654
Wacom Company, Ltd. (L) 9,300 40,131
Wakachiku Construction Company, Ltd. 9,000 17,123
Wakita & Company, Ltd. 2,000 21,152
Warabeya Nichiyo Company, Ltd. 900 16,165
Watabe Wedding Corp. 1,100 5,836
WATAMI Company, Ltd. (L) 2,300 27,401
Welcia Holdings Company, Ltd. 1,600 47,677
West Holdings Corp. 1,300 14,097
Xebio Company, Ltd. 1,500 22,759
Yahagi Construction Company, Ltd. 2,000 14,793
Yaizu Suisankagaku Industry Company, Ltd. 1,100 9,940
YAMABIKO Corp. 600 24,326
Yamazen Corp. 3,900 30,564
Yaoko Company, Ltd. 300 17,827
Yellow Hat, Ltd. 1,000 21,988
Yodogawa Steel Works, Ltd. 10,000 40,936
Yokogawa Bridge Corp. 3,000 42,051
Yokohama Reito Company, Ltd. 4,000 29,634
Yokowo Company, Ltd. 2,000 11,194
Yomeishu Seizo Company, Ltd. 1,000 8,386

The accompanying notes are an integral part of the financial statements. 134


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

International Small Company Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Japan (continued)
Yomiuri Land Company, Ltd. 2,000 $ 8,724
Yondenko Corp. 3,000 11,417
Yondoshi Holdings, Inc. 1,700 34,048
Yorozu Corp. 800 13,704
Yoshinoya Holdings Conpany, Ltd. 2,100 25,119
Yuasa Trading Company, Ltd. 1,600 31,039
Yuki Gosei Kogyo Co., Ltd. 2,000 4,757
Yumeshin Holdings Company, Ltd. 2,200 16,990
Yurtec Corp. 4,000 19,574
Yusen Logistics Company, Ltd. 1,200 12,675
Yushiro Chemical Industry Company, Ltd. 1,100 14,667
Zenrin Company, Ltd. 2,100 24,888
Zensho Holdings Company, Ltd. (L) 4,600 40,730
ZERIA Pharmaceutical Company, Ltd. 2,200 45,266
24,957,576
Jersey, Channel Islands - 0.1%
Atrium European Real Estate, Ltd. (I) 375 1,949
Centamin PLC 88,755 88,002
Petra Diamonds, Ltd. (I) 3,602 11,084
Phoenix Group Holdings 891 10,503
111,538
Liechtenstein - 0.1%
Liechtensteinische Landesbank AG 1,361 54,819
Verwaltungs & Privat Bank AG 397 33,288
88,107
Luxembourg - 0.4%
APERAM (I) 3,189 99,532
Eurofins Scientific 611 158,085
GAGFAH SA (I) 1,693 31,472
Regus PLC 59,952 164,297
453,386
Malta - 0.1%
Unibet Group PLC 1,362 68,376
Mongolia - 0.0%
Mongolian Mining Corp. (I) 14,000 1,567
Netherlands - 2.1%
Aalberts Industries NV 9,501 245,984
Accell Group 1,666 27,474
AMG Advanced Metallurgical Group NV (I) 3,085 26,648
Amsterdam Commodities NV 1,575 35,479
Arcadis NV 6,584 217,773
ASM International NV 5,593 203,090
BE Semiconductor Industries NV 1,355 23,938
Beter Bed Holding NV 1,056 22,322
BinckBank NV 4,478 44,582
Brunel International NV 2,022 46,307
Corbion NV 3,388 49,831
Delta Lloyd NV 12,120 292,036
Exact Holdings NV 467 16,502
Grontmij (I) 5,995 30,326
Heijmans NV 2,023 31,995
InnoConcepts NV (I) 10,527 0
KAS Bank NV 330 4,100
Kendrion NV 654 18,230
Koninklijke BAM Groep NV (L) 20,732 61,330
Koninklijke Ten Cate NV 2,622 64,478
Koninklijke Wessanen NV 5,830 35,313
Macintosh Retail Group NV (I) 454 3,843
Nutreco NV 5,995 217,859
Ordina NV (I) 5,537 13,449
PostNL NV (I) 15,152 65,290
Royal Imtech NV (I) 5,602 2,759
SBM Offshore NV (I) 9,898 143,522
Sligro Food Group NV 2,169 83,723
SNS REAAL NV (I) 16,603 0
Telegraaf Media Groep NV 3,529 27,665
TKH Group NV 3,030 97,316
TNT Express NV 6,838 43,138
TomTom NV (I) 8,528 67,920
USG People NV 6,577 78,005
2,342,227
New Zealand - 1.1%
Air New Zealand, Ltd. 49,117 74,485
Chorus, Ltd. (I) 17,681 25,000
Ebos Group, Ltd. 3,359 24,260
Fisher & Paykel Healthcare Corp., Ltd. 41,534 168,299
Freightways, Ltd. 8,921 35,525
Infratil, Ltd. 66,634 147,291
Kathmandu Holdings, Ltd. 4,554 11,242
Mainfreight, Ltd. 7,268 84,696
New Zealand Oil & Gas, Ltd. 47,702 28,280
Nuplex Industries, Ltd. 40,972 98,335
PGG Wrightson, Ltd. 8,197 2,658
Pike River Coal Company, Ltd. (I) 21,968 0
Port of Tauranga, Ltd. 5,763 71,542
Pumpkin Patch, Ltd. (I) 7,395 2,428
Ryman Healthcare, Ltd. 17,803 108,485
SKY Network Television, Ltd. 18,776 92,289
SKYCITY Entertainment Group, Ltd. 43,129 122,862
The New Zealand Refining Company, Ltd. (I) 17,531 22,711
The Warehouse Group, Ltd. 4,936 11,785
Tower, Ltd. 12,717 19,848
Trade Me Group, Ltd. 9,703 26,499
Xero, Ltd. (I) 350 5,882
1,184,402
Norway - 1.2%
ABG Sundal Collier Holding ASA (I) 13,972 11,626
American Shipping ASA (I) 1,661 12,193
Atea ASA 9,883 111,139
Austevoll Seafood ASA 7,284 48,529
Bonheur ASA 1,100 17,557
BW Offshore, Ltd. 30,800 38,479
Cermaq ASA 8,984 135,134
Det Norske Oljeselskap ASA (I) 1,725 15,235
DOF ASA (I) 1,335 4,775
Dolphin Group ASA (I) 15,125 8,073
Ekornes ASA 207 2,455
Electromagnetic GeoServices ASA (I) 3,160 1,915
Eltek ASA 22,000 31,672
Evry ASA 946 2,587
Farstad Shipping ASA 390 5,132
Ganger Rolf ASA 700 11,296
Hexagon Composites ASA 3,589 16,718
Kongsberg Automotive Holding ASA (I) 29,400 30,604
Kvaerner ASA 11,623 19,175
Leroy Seafood Group ASA 1,902 73,193
Nordic Semiconductor ASA (I) 15,946 93,949
Norwegian Air Shuttle AS (I)(L) 2,907 101,227
Norwegian Energy Company AS (I) 990 1,281
Opera Software ASA 6,623 92,703
REC Silicon ASA (I) 135,975 54,520
Salmar ASA 3,319 58,568

The accompanying notes are an integral part of the financial statements. 135


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

International Small Company Trust (continued)

Shares or      
Principal
Amount Value
COMMON STOCKS (continued)
Norway (continued)
Sevan Marine ASA 2,068 $ 7,924
Siem Offshore, Inc. 20,000 19,153
Solstad Offshore ASA 2,340 32,729
SpareBank 1 SMN 3,890 35,880
Tomra Systems ASA 13,184 100,551
Vard Holdings, Ltd. (I) 26,000 17,282
Veidekke ASA 6,400 64,480
Wilh Wilhelmsen Holding ASA 3,110 24,285
Wilh Wilhelmsen Holding ASA, Class A 1,300 35,413
1,337,432
Papua New Guinea - 0.0%
Highlands Pacific, Ltd. (I) 59,421 2,759
Peru - 0.0%
Hochschild Mining PLC 12,022 26,320
Portugal - 0.5%
Altri SGPS SA 26,263 76,527
Banco BPI SA (I) 23,984 50,624
Mota-Engil SGPS SA 5,366 34,634
NOS SGPS 17,437 104,999
Portucel - Empresa Produtora de Pasta
       e Papel SA 28,126 111,936
Redes Energeticas Nacionais SA 12,164 40,982
Semapa-Sociedade de Investimento & Gestao 5,253 64,356
Sonae 50,046 72,513
Teixeira Duarte SA 21,736 23,502
580,073
Republic of Georgia - 0.0%
Bank of Georgia Holdings PLC 252 10,009
Singapore - 1.1%
ASL Marine Holdings, Ltd. 19,600 9,281
Banyan Tree Holdings, Ltd. 54,000 26,862
Biosensors International Group, Ltd. (I) 63,000 35,500
Boustead Singapore, Ltd. 10,000 13,824
Bukit Sembawang Estates, Ltd. 16,000 69,344
Cape PLC 836 3,854
CH Offshore, Ltd. 38,000 14,147
China Aviation Oil Singapore Corp., Ltd. 14,400 8,859
China Merchants Holdings Pacific, Ltd. 50,000 37,230
Chip Eng Seng Corp., Ltd. 33,000 23,280
Cosco Corp. Singapore, Ltd. 80,000 42,290
Creative Technology, Ltd. 6,650 11,324
CSE Global, Ltd. 34,000 17,851
Ezra Holdings, Ltd. 98,400 75,486
Far East Orchard, Ltd. 5,000 7,091
Food Empire Holdings, Ltd. 43,200 12,544
Gallant Venture, Ltd. (I) 71,000 14,161
GMG Global, Ltd. 46,000 2,383
Ho Bee Investment, Ltd. 18,000 28,343
Hong Fok Corp., Ltd. 48,000 36,403
Hong Leong Asia, Ltd. 13,000 15,169
HTL International Holdings, Ltd. 34,000 7,869
Hyflux, Ltd. 24,000 19,855
Indofood Agri Resources, Ltd. 25,000 16,245
Metro Holdings, Ltd. 31,600 22,300
Midas Holdings, Ltd. 86,000 22,227
OSIM International, Ltd. 30,000 61,823
Otto Marine, Ltd. 144,000 7,658
Petra Foods, Ltd. 32,000 101,128
Rotary Engineering, Ltd. 22,000 10,846
SBS Transit, Ltd. 5,000 6,676
Sinarmas Land, Ltd. 128,000 67,586
SMRT Corp., Ltd. 31,000 37,625
Stamford Land Corp., Ltd. 59,000 26,302
SunVic Chemical Holdings, Ltd. (I) 26,000 11,700
Super Group, Ltd. 30,000 30,015
Swiber Holdings, Ltd. 20,000 7,121
Tat Hong Holdings, Ltd. 31,000 19,179
Triyards Holdings, Ltd. 5,040 2,941
United Engineers, Ltd. 38,000 84,200
United Envirotech, Ltd. 11,000 11,676
UOB-Kay Hian Holdings, Ltd. 32,345 40,157
Venture Corp., Ltd. 13,000 77,505
Wing Tai Holdings, Ltd. 21,205 29,311
Yeo Hiap Seng, Ltd. 1,104 1,677
Yongnam Holdings, Ltd. 87,000 13,479
1,242,327
South Africa - 0.0%
Lonmin PLC (I) 2,646 7,934
Spain - 2.0%
Abengoa SA 3,012 16,805
Abengoa SA, B Shares 20,456 107,793
Acciona SA (I) 486 36,278
Acerinox SA 8,479 130,238
Adveo Group International SA 669 12,111
Almirall SA (I) 5,019 73,533
Atresmedia Corp de Medios
       de Comunicaion SA 3,644 55,294
Bankinter SA 5,288 44,703
Bolsas y Mercados Espanoles SA 5,350 203,542
Caja de Ahorros del Mediterraneo (I) 5,428 0
Cie Automotive SA 754 10,497
Construcciones & Auxiliar de Ferrocarriles SA 117 39,037
Deoleo SA (I) 11,142 5,494
Dinamia SA (I) 1,181 11,490
Duro Felguera SA 5,568 26,479
Ebro Foods SA 6,186 117,168
Elecnor SA 2,026 24,418
Ence Energia y Celulosa SA 9,506 21,282
Faes Farma SA 18,085 46,156
Fluidra SA 3,227 11,819
Gamesa Corporacion Tecnologica SA (I) 12,762 140,268
Grupo Catalana Occidente SA 2,531 74,068
Indra Sistemas SA 7,450 104,307
Laboratorios Farmaceuticos Rovi SA 1,750 18,792
Mediaset Espana Comunicacion SA (I) 8,793 109,126
Melia Hotels International SA 3,488 35,982
NH Hoteles SA (I) 5,065 24,708
Obrascon Huarte Lain SA 1,426 47,596
Papeles y Cartones de Europa SA 4,326 24,816
Pescanova SA (I) 1,602 0
Promotora de Informaciones SA (I) 27,931 8,403
Prosegur Cia de Seguridad SA 5,352 33,196
Sacyr SA (I) 13,265 71,098
Tecnicas Reunidas SA 2,764 146,209
Tubacex SA 6,252 31,136
Tubos Reunidos SA 9,106 28,733
Vidrala SA 1,779 77,588
Viscofan SA 3,696 202,456
Vocento SA (I) 9,411 24,119
Zeltia SA (I) 13,550 48,580
2,245,318
Sweden - 3.5%
AarhusKarlshamn AB 4,167 217,295

The accompanying notes are an integral part of the financial statements. 136


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

International Small Company Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)  
Sweden (continued)  
Acando AB 6,279 $ 10,105
AddTech AB, B Shares 6,930 94,681
AF AB, B Shares 6,380 96,986
Avanza Bank Holding AB 1,104 37,172
Axfood AB 1,565 81,006
Axis Communications AB 3,376 91,579
B&B Tools AB, B Shares 3,490 68,444
BE Group AB (I) 4,723 5,735
Beijer AB G&L, B Shares 2,250 44,835
Beijer Alma AB 229 5,396
Betsson AB (I) 2,976 105,307
Bilia AB, A Shares 1,720 46,069
BillerudKorsnas AB 23,218 328,108
BioGaia AB, B Shares 555 12,441
Bure Equity AB 5,458 23,364
Castellum AB 6,802 103,292
Clas Ohlson AB, B Shares 3,185 53,882
Cloetta AB, B Shares (I) 2,034 6,071
Concordia Maritime AB, B Shares (I) 2,200 3,841
Duni AB 4,343 54,300
East Capital Explorer AB (I) 3,589 23,054
Enea AB (I) 1,999 16,076
Eniro AB (I)(L) 9,996 14,510
Fabege AB 6,102 77,495
Fagerhult AB (I) 1,365 27,519
Fastighets AB Balder - B Shares (I) 2,585 32,789
Haldex AB 3,364 38,925
Hexpol AB 1,566 124,685
HIQ International AB (I) 3,756 19,295
Holmen AB, B Shares 4,455 135,258
Hufvudstaden AB, A Shares 638 7,929
Industrial & Financial Systems AB 1,542 46,965
Indutrade AB 1,973 74,886
Intrum Justitia AB 6,104 171,602
JM AB 8,981 286,351
KappAhl AB (I) 2,691 14,104
Kungsleden AB 10,626 62,943
Lindab International AB (I) 6,008 51,234
Loomis AB 4,564 130,122
Mekonomen AB 2,150 46,485
Munksjo OYJ (I) 33 306
NCC AB, B Shares 7,065 233,860
Net Entertainment NE AB, B Shares (I) 105 2,795
Net Insight AB, B Shares (I) 40,297 16,948
New Wave Group AB, B Shares 4,353 19,812
Nibe Industrier AB, B Shares 7,047 177,470
Nobia AB 10,144 88,058
OEM International AB, B Shares (I) 1,799 21,865
PA Resources AB (I) 278 112
Peab AB 14,016 96,336
Proffice AB, B Shares 6,320 19,641
Saab AB 46 1,127
SAS AB (I)(L) 13,979 24,639
SkiStar AB 222 2,463
SSAB AB, A Shares (I) 3,598 30,746
SSAB AB, A Shares (I) 3,181 27,321
SSAB AB, B Shares (I) 8,121 60,620
Sweco AB, B Shares 3,557 50,433
Swedish Orphan Biovitrum AB (I) 11,871 126,507
TradeDoubler AB 4,887 5,953
Wihlborgs Fastigheter AB 3,088 52,975
3,952,123
Switzerland - 4.2%
Advanced Digital Broadcast Holdings SA (I) 245 3,422
AFG Arbonia-Forster Holding AG (I) 748 16,021
Allreal Holding AG (I) 841 108,781
Alpiq Holding AG (I) 155 16,327
APG SGA SA 88 26,475
Ascom Holding AG 3,277 45,818
Autoneum Holding AG (I) 263 41,132
Bachem Holding AG (I) 14 724
Bank Coop AG 1,272 56,282
Banque Cantonale Vaudoise 20 10,717
Banque Privee Edmond de Rothschild SA 1 15,903
Belimo Holding AG 21 52,246
Bell AG 9 20,318
Berner Kantonalbank 285 55,377
BKW AG 294 9,709
Bobst Group AG 632 27,435
Bossard Holding AG (I) 578 59,930
Bucher Industries AG 547 140,404
Burckhardt Compression Holding AG 263 121,061
Burkhalter Holding AG 218 19,604
Calida Holding AG (I) 285 10,485
Charles Voegele Holding AG (I) 998 15,650
Cicor Technologies (I) 277 10,728
Conzzeta AG (I) 1 3,685
Daetwyler Holding AG 654 86,029
Dksh Holding Ag 345 25,647
EFG International AG (I) 4,687 47,083
Emmi AG (I) 226 77,297
Energiedienst Holding AG 559 18,507
Ferrexpo PLC 5,662 10,274
Flughafen Zuerich AG 293 183,562
Forbo Holding AG (I) 123 125,487
GAM Holding AG (I) 14,176 244,200
Gategroup Holding AG (I) 846 18,174
Georg Fischer AG (I) 493 289,411
Gurit Holding AG (I) 22 9,655
Helvetia Patria Holding AG 483 233,882
Huber & Suhner AG 280 13,647
Implenia AG (I) 994 54,230
Inficon Holding AG (I) 183 55,718
Intershop Holdings 112 41,740
Kaba Holding AG (I) 239 110,971
Kardex AG (I) 420 18,290
Komax Holding AG (I) 339 48,482
Kudelski SA 3,337 43,363
Kuoni Reisen Holding AG (I) 265 71,625
LEM Holding SA 42 31,370
Logitech International SA (I) 9,485 121,456
Logitech International SA (I)(L) 3,471 44,498
Luzerner Kantonalbank AG 254 93,461
Meyer Burger Technology AG (I) 4,318 44,020
Micronas Semiconductor Holding AG (I) 1,836 13,788
Mobilezone Holding AG (I) 3,318 35,969
Mobimo Holding AG (I) 463 89,607
Nobel Biocare Holding AG (I) 1,633 28,880
OC Oerlikon Corp. AG (I) 1,855 23,015
Orascom Development Holding AG (I) 533 10,297
Orell Fuessli Holding AG (I) 136 13,262
Orior AG (I) 169 9,341
Panalpina Welttransport Holding AG 858 107,727
Phoenix Mecano AG 84 39,824
Rieter Holding AG (I) 251 50,477
Romande Energie Holding SA 43 48,546

The accompanying notes are an integral part of the financial statements. 137


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

International Small Company Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Switzerland (continued)
Schaffner Holding AG (I) 40 $ 12,312
Schmolz & Bickenbach AG (I) 55,184 70,834
Schweiter Technologies AG 80 57,242
Schweizerische National-versicherungs-
       gesellschaft Ag (I) 1,041 90,078
Siegfried Holding AG (I) 210 31,199
St. Galler Kantonalbank AG 125 45,538
Straumann Holding AG 337 76,140
Swisslog Holding AG (I) 4,914 6,893
Swissquote Group Holding SA 328 10,750
Tamedia AG 201 26,577
Tecan Group AG 884 92,788
Temenos Group AG (I) 5,003 189,928
U-Blox AG (I) 159 19,571
Valiant Holding AG 1,178 93,825
Valora Holding AG (I) 291 60,372
Vaudoise Assurances Holding SA 138 60,319
Vetropack Holding AG 3 4,992
Von Roll Holding AG (I) 7,878 12,711
Vontobel Holding AG 1,927 69,837
Walter Meier AG (I) 438 18,580
Ypsomed Holding AG (I) 276 24,548
Zehnder Group AG 615 23,751
Zuger Kantonalbank 17 80,150
4,699,981
Taiwan - 0.0%
Ya Hsin Industrial Company, Ltd. (I) 138,000 0
United Arab Emirates - 0.1%
Lamprell PLC (I) 33,134 87,572
United Kingdom - 19.3%
A.G.BARR PLC 9,000 90,372
Afren PLC (I) 55,554 93,250
African Barrick Gold, Ltd. 2,512 8,903
Alent Plc 21,231 113,031
Alizyme PLC (I) 22,479 0
Amlin PLC 23,350 163,835
Anglo Pacific Group PLC 10,171 21,670
Anite PLC 13,211 18,502
Ashmore Group PLC 2,102 10,426
Ashtead Group PLC 30,995 521,425
Aveva Group PLC 327 8,147
Balfour Beatty PLC 40,039 121,963
Barratt Developments PLC 80,355 513,849
BBA Aviation PLC 41,028 215,521
Bellway PLC 10,163 256,875
Berendsen PLC 14,469 229,274
Berkeley Group Holdings PLC 3,106 112,808
Betfair Group PLC 135 2,554
Bodycote PLC 18,155 196,393
Booker Group PLC (I) 23,267 45,948
Bovis Homes Group PLC 10,397 130,653
Braemar Seascope Group PLC 1,328 10,637
Brammer PLC 8,722 53,070
Brewin Dolphin Holdings PLC 23,416 103,093
British Polythene Industries PLC 3,531 35,212
Britvic PLC 21,701 234,243
BTG PLC (I) 25,585 289,552
Cable & Wireless Communications PLC 89,055 67,446
Capital & Counties Properties PLC 4,640 24,658
Capital & Regional PLC 28,406 22,286
Carillion PLC 27,252 134,044
Carphone Warehouse Group PLC 35,816 212,354
Charles Taylor Consulting PLC 3,000 12,589
Chemring Group PLC 15,378 55,924
Chesnara PLC 4,750 27,314
Chime Communications PLC 5,129 24,267
Cineworld Group PLC 9,204 48,639
Close Brothers Group PLC 13,584 313,390
Cobham PLC 51,576 242,810
Colt Group SA (I) 31,617 68,405
Communisis PLC 1 1
Computacenter PLC 8,533 86,795
Concentric AB 3,667 43,267
Costain Group PLC 4,797 22,034
Cranswick PLC 6,342 136,321
CSR PLC 14,801 181,448
Daily Mail & General Trust PLC 13,178 163,062
Dairy Crest Group PLC 10,688 66,367
Darty PLC 13,940 16,796
De La Rue PLC 6,976 53,823
Debenhams PLC 91,915 86,668
Dechra Pharmaceuticals PLC 5,389 66,227
Development Securities PLC 5,560 17,700
Devro PLC 5,062 19,501
Dialight PLC 105 1,533
Dignity PLC (I) 4,616 109,581
Diploma PLC 7,537 84,004
Domino Printing Sciences PLC 11,461 113,288
Domino’s Pizza Group PLC 9,994 91,912
Drax Group PLC 30,783 321,573
DS Smith PLC 101,349 435,718
Dunelm Group PLC 8,604 115,077
E2V Technologies PLC 2,485 6,496
Electrocomponents PLC 36,254 130,528
Elementis PLC 35,280 145,423
EnQuest PLC (I) 53,014 94,018
Enterprise Inns PLC (I) 40,990 82,379
Essentra PLC 22,013 283,692
Euromoney Institutional Investor PLC 6,085 100,055
Evraz PLC 14,266 29,925
Fenner PLC 9,083 46,731
Fidessa Group PLC 3,072 113,637
Findel PLC (I) 8,139 31,948
FirstGroup PLC (I) 88,330 171,207
Galliford Try PLC 7,331 149,885
Gem Diamonds, Ltd. (I) 12,666 39,307
Genus PLC 5,336 97,439
Go-Ahead Group PLC 2,784 114,563
Greene King PLC 18,168 230,611
Greggs PLC 7,878 75,465
Halfords Group PLC 15,547 119,060
Halma PLC 31,315 309,409
Hardy Oil & Gas PLC (I) 5,072 8,396
Hays PLC 90,038 168,943
Headlam Group PLC 4,631 30,741
Helical Bar PLC 8,263 46,805
Hikma Pharmaceuticals PLC 16,363 458,414
Hill & Smith Holdings PLC 6,401 58,183
Home Retail Group PLC 14,484 39,009
HomeServe PLC 23,941 123,949
Howden Joinery Group PLC 51,873 284,383
Hunting PLC 9,804 141,361
Hyder Consulting PLC 3,872 47,009
ICAP PLC 15,576 97,410
IG Group Holdings PLC 23,822 229,130

The accompanying notes are an integral part of the financial statements. 138


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

International Small Company Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
United Kingdom (continued)
Imagination Technologies Group PLC (I) 16,400 $ 49,730
Inchcape PLC 29,466 306,421
Informa PLC 13,264 104,792
Innovation Group PLC 32,953 15,189
Intermediate Capital Group PLC 39,548 251,125
International Personal Finance PLC 27,936 220,360
Interserve PLC 9,571 92,798
ITE Group PLC 16,803 46,046
Ithaca Energy, Inc. (I) 15,580 29,214
J.D. Wetherspoon PLC 8,178 105,840
James Fisher & Sons PLC 4,579 98,145
Jardine Lloyd Thompson Group PLC 10,279 162,080
Jazztel PLC (I) 19,044 307,691
JD Sports Fashion PLC 1,594 11,068
JKX Oil & Gas PLC (I) 8,683 6,785
John Menzies PLC 1,262 11,619
John Wood Group PLC 1,787 21,903
Jupiter Fund Management PLC 10,970   62,916
Kazakhmys PLC (I) 5,608   23,863
Kcom Group PLC 52,905 81,010
Keller Group PLC 4,607 65,494
Kier Group PLC 3,106 82,690
Ladbrokes PLC 55,844 116,730
Laird PLC 26,527 132,661
Lancashire Holdings, Ltd. 13,824 143,231
Lavendon Group PLC 3,421 11,184
Lookers PLC 22,449 48,665
Low & Bonar PLC 22,280 21,595
M.J. Gleeson Group PLC 2,770 17,643
Man Group PLC 48,511 93,014
Management Consulting Group PLC 217 89
Marshalls PLC 4,569 14,850
Marston’s PLC 31,530 75,173
McBride PLC (I) 14,770 20,842
Mears Group PLC 8,289 58,384
Melrose Industries PLC 1,069 4,279
Michael Page International PLC 20,769 140,321
Micro Focus International PLC (I) 20,560 353,073
Millennium & Copthorne Hotels PLC 13,381 123,604
Mitchells & Butlers PLC (I) 20,686 119,741
Mitie Group PLC 23,431 108,991
Moneysupermarket.com Group PLC 14,801 46,858
Morgan Crucible Company PLC 24,042 115,220
Morgan Sindall PLC 789 10,482
Mothercare PLC (I) 4,601 19,971
MWB Group Holdings PLC (I) 11,618 918
N. Brown Group PLC 16,271 100,467
National Express Group PLC 34,580 132,850
NCC Group, Ltd. 19,225 61,061
Northgate PLC 1,332 10,433
Novae Group PLC 2,664 23,151
Optos PLC (I) 3,748 11,895
Oxford Biomedica PLC (I) 57,574 3,478
Oxford Instruments PLC 2,533 41,786
Pace PLC 22,875 109,991
PayPoint PLC 4,414 70,230
Pendragon PLC 63,903 34,193
Pennon Group PLC 11,080 141,602
Perform Group PLC (I) 2,711 11,332
Petropavlovsk PLC (I) 13,086 4,653
Photo-Me International PLC 20,281 43,277
Premier Farnell PLC 29,879 87,717
Premier Foods PLC (I) 41,106 24,266
Premier Oil PLC 29,180 157,399
Punch Taverns PLC (I) 20,164 2,903
PZ Cussons PLC 16,024 94,912
QinetiQ Group PLC 56,452 204,856
Quintain Estates & Development PLC (I) 36,270 52,405
Rank Group PLC 3,844 10,007
Rathbone Brothers PLC 3,854 118,936
Redrow PLC 24,204 110,063
Renishaw PLC 2,747 72,375
Rentokil Initial PLC 67,283 128,085
Ricardo PLC 637 6,925
Rightmove PLC 7,789 270,894
RM PLC 8,752 22,315
Rotork PLC 7,111 317,630
RPC Group PLC 17,074 154,405
RPS Group PLC 17,736 74,950
Salamander Energy PLC (I) 13,282 21,480
Savills PLC 10,012 99,310
SDL PLC (I) 7,019 39,259
Senior PLC 21,678 93,956
Shanks Group PLC 35,094 50,944
SIG PLC 25,405 68,354
Skyepharma PLC (I) 753 4,002
Smiths News PLC 16,404 39,642
Soco International PLC (I) 16,636 102,412
Spectris PLC 10,418 304,352
Spirax-Sarco Engineering PLC 6,132 279,808
Spirent Communications PLC 48,511 82,057
Spirit Pub Company PLC 20,164 31,417
Sportech PLC (I) 11,390 9,695
St. Ives PLC 3,492 11,300
St. Modwen Properties PLC 14,271 84,823
Stagecoach Group PLC 24,940 148,525
SThree PLC 8,144 46,076
Stobart Group, Ltd. 1,253 2,249
Stolt-Nielsen, Ltd. 620 12,015
STV Group PLC 2,685 15,717
SuperGroup PLC (I) 11 202
Synergy Health PLC 4,425 104,950
Synthomer PLC 8,486 29,115
TalkTalk Telecom Group PLC 28,536 138,127
Ted Baker PLC 381 11,474
Telecity Group PLC 6,110 73,938
Telecom Plus PLC 773 16,701
The Restaurant Group PLC 15,717 165,753
The Unite Group PLC 9,365 64,247
The Vitec Group PLC 1,430 14,213
Thomas Cook Group PLC (I) 27,271 52,460
Thorntons PLC (I) 5,797 9,998
Tipp24 SE 349 13,159
Topps Tiles PLC 15,591 26,305
Torotrak PLC (I) 2,223 603
Tribal Group PLC 7,453 20,587
Trinity Mirror PLC (I) 10,984 29,996
TT electronics PLC 14,769 39,929
Tullett Prebon PLC 16,882 73,063
UBM PLC 13,505 127,137
UK Mail Group PLC 2,825 21,728
Ultra Electronics Holdings PLC 5,588 159,954
UTV Media PLC 6,973 24,575
Vectura Group PLC (I) 29,652 63,276
Vesuvius PLC 21,699 158,425
Victrex PLC 5,831 151,322

The accompanying notes are an integral part of the financial statements. 139


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

International Small Company Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
United Kingdom (continued)
Volex Group PLC 3,136 $ 4,337
Vp PLC 637 6,283
W.S. Atkins PLC 8,340 177,595
WH Smith PLC 11,284 197,406
William Hill PLC 12,550 74,999
Wilmington Group PLC 8,076 28,122
Wincanton PLC (I) 7,151 15,822
Xaar PLC 1,413 8,600
Xchanging PLC 19,640 59,646
21,570,719
United States - 0.3%
Alacer Gold Corp. 5,400 10,125
Argonaut Gold, Inc. (I) 6,900 24,151
BNK Petroleum, Inc. (I) 5,141 4,269
Boart Longyear, Ltd. (I) 36,330 5,716
Chaparral Gold Corp. (I) 1,700 805
Kofax, Ltd. (I) 2,760 21,481
Performance Sports Group, Ltd. (I) 2,200 35,752
Sims Metal Management, Ltd. 15,252 149,637
Thompson Creek Metals Company, Inc. (I) 11,493 25,347
277,283
TOTAL COMMON STOCKS (Cost $104,254,373) $ 110,973,161
  
RIGHTS - 0.0%
Elders Ltd. (Expiration Date: 10/7/14; Strike
       Price: AUD 0.15) (I) 29,113 $ 637
Intercell AG (I)(N) 3,233 0
Kungsleden AB (Expiration Date: 10/8/14;
       Strike Price: SEK 35.00) (I) 10,626 3,829
Mota-Engil Africa (Expiration
       Date: 12/31/49) (I)(N) 5,366 3,578
PNE Wind AG (Strike Price: EUR 2.40) (I)(N) 3,306 4
TOTAL RIGHTS (Cost $11,041) $ 8,048
 
WARRANTS - 0.0%
HudBay Minerals, Inc. (Expiration Date:
       07/20/2018; Strike Price: CAD 15.00) (I) 1 1
TOTAL WARRANTS (Cost $3) $ 1
 
SECURITIES LENDING COLLATERAL - 1.1%
John Hancock Collateral
       Investment Trust, 0.1178% (W)(Y) 123,795 $ 1,238,832
TOTAL SECURITIES LENDING
COLLATERAL (Cost $1,238,833) $ 1,238,832
  
SHORT-TERM INVESTMENTS - 0.2%
Money market funds - 0.2%
State Street Institutional Liquid Reserves
       Fund, 0.0853% (Y) 234,458 234,458
TOTAL SHORT-TERM INVESTMENTS (Cost $234,458) $ 234,458
Total Investments (International Small Company Trust)
       (Cost $105,738,708) - 100.8% $ 112,454,500
Other assets and liabilities, net - (0.8%) (866,413 )
TOTAL NET ASSETS - 100.0% $ 111,588,087
 

International Value Trust
  
Shares or
Principal
Amount		       Value
COMMON STOCKS - 97.9%
Belgium - 0.6%
UCB SA 74,190 $ 6,722,587
Brazil - 1.0%
BM&FBovespa SA 1,019,400 4,660,236
Petroleo Brasileiro SA, ADR 268,844 4,003,087
Vale SA (Preference A Shares), ADR 263,960 2,563,052
11,226,375
Canada - 6.0%
AGF Management, Ltd., Class B 243,200 2,536,342
Cenovus Energy, Inc. 114,500 3,080,392
Ensign Energy Services, Inc. 819,700 10,766,362
HudBay Minerals, Inc. 1,282,500 10,958,994
Suncor Energy, Inc. 433,700 15,695,219
Talisman Energy, Inc. 1,420,540 12,290,756
Trican Well Service, Ltd. 931,800 10,899,219
66,227,284
China - 6.5%
China Life Insurance Company, Ltd., H Shares 2,319,000 6,445,831
China Shenhua Energy Company, Ltd.,
       H Shares 2,920,000 8,128,111
China Telecom Corp., Ltd., H Shares 25,170,427 15,429,066
Shanghai Electric Group Company, Ltd.,
       H Shares 13,746,000 7,291,453
Shanghai Pharmaceuticals Holding
       Company, Ltd., H Shares 3,490,600 8,547,258
Sinopec Engineering Group Company, Ltd.,
       H Shares 6,147,000 6,590,454
Sinopharm Group Company, Ltd., H Shares 1,422,000 5,186,373
Springland International Holdings, Ltd. 8,764,500 3,316,571
Trina Solar, Ltd., ADR (I)(L) 901,010 10,875,191
71,810,308
Denmark - 0.4%
FLSmidth & Company A/S (L) 96,640 4,608,744
France - 11.9%
AXA SA 914,651 22,530,190
BNP Paribas SA 390,336 25,905,890
Cie de Saint-Gobain 154,110 7,041,515
Cie Generale des Etablissements Michelin 102,410 9,646,076
Ipsen SA 137,358 6,754,002
Sanofi 205,173 23,199,036
Societe Generale SA 146,133 7,453,934
Technip SA 116,730 9,792,008
Total SA 298,786 19,347,618
131,670,269
Germany - 7.9%
Bayer AG 87,640 12,194,080
Deutsche Boerse AG 130,130 8,738,318
Deutsche Lufthansa AG 402,760 6,324,189
Gerresheimer AG 95,880 6,202,674
Kloeckner & Company SE (I) 455,830 6,246,107
Merck KGaA 113,494 10,431,850
Metro AG (I) 213,172 6,990,995
MorphoSys AG (I) 52,640 5,135,667
Muenchener Rueckversicherungs AG 34,627 6,830,781
SAP SE 39,470 2,848,536
Siemens AG 129,551 15,415,537
  87,358,734  
Hong Kong - 4.0%
China Mobile, Ltd. 718,000   8,393,028
Digital China Holdings, Ltd. 4,518,000 4,030,257

The accompanying notes are an integral part of the financial statements. 140


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

International Value Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Hong Kong (continued)
First Pacific Company, Ltd. 2,670,750 $ 2,753,108
GCL-Poly Energy Holdings, Ltd. (I) 39,356,000 14,527,074
Kingboard Chemical Holdings, Ltd. 4,975,800 9,879,514
Kunlun Energy Company, Ltd. 2,154,000 3,108,307
Noble Group, Ltd. 1,302,600 1,324,300
Value Partners Group, Ltd. 592,100 432,771
44,448,359  
India - 0.8%
Jain Irrigation Systems, Ltd. 1,974,568 2,572,148
LIC Housing Finance, Ltd. 652,320 3,417,816
Power Grid Corp. of India, Ltd. 1,140,059 2,490,162
8,480,126
Ireland - 0.7%
CRH PLC 366,490 8,323,096
Israel - 1.5%
Teva Pharmaceutical Industries, Ltd., ADR 300,875 16,172,031
Italy - 3.6%
Eni SpA 585,496 13,891,609
Saipem SpA (I)   306,987   6,510,091
UniCredit SpA 2,526,658 19,849,140
40,250,840
Japan - 5.8%
Canon, Inc. 120,900 3,933,591
Capcom Company, Ltd. 177,300   2,782,840
ITOCHU Corp. 1,279,460 15,626,036
Namco Bandai Holdings, Inc. 350,500 9,017,046
Nissan Motor Company, Ltd. 1,271,800 12,311,208
Suntory Beverage & Food, Ltd. 178,200 6,310,361
Toyota Motor Corp. 244,130 14,364,399
64,345,481
Netherlands - 6.2%
Aegon NV 1,854,132 15,267,305
Akzo Nobel NV 164,700 11,268,972
ING Groep NV (I) 1,064,170 15,126,343
QIAGEN NV (I) 443,890 10,056,316
Royal Dutch Shell PLC, B Shares 424,586 16,785,573
68,504,509
Norway - 1.8%
Statoil ASA 409,200 11,140,788
Telenor ASA 411,835 9,038,739
20,179,527
Russia - 1.0%
Lukoil OAO, ADR 68,678 3,495,710
MMC Norilsk Nickel OJSC, ADR 316,697 5,906,399
Mobile Telesystems OJSC, ADR 146,249 2,184,960
11,587,069
Singapore - 0.7%
United Overseas Bank, Ltd. 415,000 7,275,248
South Korea - 12.9%
Daewoo International Corp. 82,164 2,920,661
Hana Financial Group, Inc. 783,631 28,521,827
Hyundai Mobis 44,328 10,791,713
Hyundai Motor Company 16,233 2,924,751
KB Financial Group, Inc., ADR 756,368 27,395,649
KIWOOM Securities Company, Ltd. 84,364 4,088,686
Korea Investment Holdings Company, Ltd. 179,110 9,388,603
POSCO 62,318 19,168,564
Samsung Electronics Company, Ltd. 33,925 37,996,249
143,196,703
Spain - 1.1%
Telefonica SA 808,928 12,493,243
Sweden - 0.6%
Getinge AB, B Shares 276,302 6,937,222
Switzerland - 7.7%
ABB, Ltd. (I) 210,050 4,698,729
Basilea Pharmaceutica (I) 36,130 3,599,440
Credit Suisse Group AG (I) 863,059 23,877,093
GAM Holding AG (I) 226,160 3,895,895
Lonza Group AG (I) 59,600 7,181,547
Meyer Burger Technology AG (I)(L) 224,670 2,290,394
Novartis AG 117,590 11,073,258
Roche Holding AG 82,202 24,274,491
Swiss Re AG (I) 64,831 5,159,400
86,050,247
Thailand - 0.5%
Bangkok Bank PCL 841,800 5,288,869
United Arab Emirates - 0.3%
Dragon Oil PLC 342,730 3,316,869
United Kingdom - 13.6%
Aviva PLC 1,392,020 11,776,590
BAE Systems PLC 1,763,241 13,421,214
Barclays PLC 1,241,830 4,567,673
BP PLC 2,390,285 17,485,735
Carillion PLC 1,520,420 7,478,459
GlaxoSmithKline PLC 682,294 15,586,415
HSBC Holdings PLC 1,402,170 14,247,851
Kingfisher PLC 2,303,870 12,048,950
Marks & Spencer Group PLC 1,603,200 10,482,509
Noble Corp. PLC 317,913 7,064,027
Rexam PLC 790,960 6,287,644
Serco Group PLC 553,718 2,570,914
Tesco PLC 5,853,910 17,487,148
Vodafone Group PLC 3,324,762 10,955,832
151,460,961
United States - 0.8%
Flextronics International, Ltd. (I) 776,870 8,017,298
Paragon Offshore PLC (I)(L) 105,971 651,721
8,669,019
TOTAL COMMON STOCKS (Cost $989,235,678) $ 1,086,603,720
 
SECURITIES LENDING COLLATERAL - 1.6%
John Hancock Collateral
       Investment Trust, 0.1178% (W)(Y) 1,771,740 17,729,983
TOTAL SECURITIES LENDING
COLLATERAL (Cost $17,729,757) $ 17,729,983
 
SHORT-TERM INVESTMENTS - 1.8%
Time deposits - 1.8%
Bank of Montreal, 0.040%, 10/01/2014 * $ 20,000,000 $ 20,000,000
TOTAL SHORT-TERM INVESTMENTS (Cost $20,000,000) $ 20,000,000
Total Investments (International Value Trust)
       (Cost $1,026,965,435) - 101.3% $ 1,124,333,703
Other assets and liabilities, net - (1.3%) (14,701,777 )
TOTAL NET ASSETS - 100.0% $ 1,109,631,926

The accompanying notes are an integral part of the financial statements. 141


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Investment Quality Bond Trust

Shares or
Principal
Amount		       Value
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS - 35.9%
U.S. government - 14.0%
Treasury Inflation Protected Securities
       0.125%, 04/15/2019 to 01/15/2023 $ 7,675,823 $ 7,592,256
       0.250%, 07/15/2024 3,511,900 3,373,893
       0.625%, 01/15/2024 7,622,512 7,664,189
       1.375%, 02/15/2044 1,942,351 2,077,405
U.S. Treasury Bonds
       3.125%, 08/15/2044 6,695,000 6,588,295
       3.375%, 05/15/2044 3,750,000 3,871,875
       3.625%, 08/15/2043 to 02/15/2044 150,000 162,125
       3.750%, 11/15/2043 550,000 607,922
       5.375%, 02/15/2031 10,000 13,239
U.S. Treasury Notes
       0.250%, 02/15/2015 to 07/31/2015 729,600 730,182
       0.500%, 09/30/2016   7,985,000   7,971,276
       0.625%, 12/15/2016 301,000 300,341
       1.625%, 08/31/2019 3,355,000 3,332,984
       2.750%, 02/15/2024 200,000 204,766
  44,490,748
U.S. government agency - 21.9%
Federal Home Loan Mortgage Corp.  
       3.000%, TBA (C) 4,200,000 4,144,219
       3.500%, TBA (C) 4,200,000 4,286,297
       4.000%, TBA (C) 2,600,000 2,736,990
       4.500%, TBA (C) 4,000,000 4,314,226
       5.000%, TBA (C) 2,200,000 2,423,437
       5.000%, 12/01/2034 430,510 477,042
       6.500%, 04/01/2029 to 08/01/2034 37,705 43,266
       7.500%, 08/01/2025 to 05/01/2028 13,957 16,201
Federal National Mortgage Association
       2.500%, TBA (C) 1,200,000 1,201,046
       2.500%, 12/01/2042 to 03/01/2043 2,039,283 1,935,088
       3.000%, TBA (C) 13,000,000 12,948,184
       3.500%, TBA (C) 3,300,000 3,373,052
       4.000%, TBA (C) 6,500,000 6,850,601
       4.500%, TBA (C) 6,500,000 7,013,664
       5.000%, TBA (C) 1,800,000 1,986,750
Government National
       Mortgage Association
       4.000%, TBA (C) 7,700,000 8,168,265
       4.000%, 11/15/2040 to 02/15/2042 157,887 168,152
       4.500%, TBA (C) 6,400,000 6,942,762
       6.000%, 08/15/2032 to 04/15/2035 100,376 114,206
       6.500%, 06/15/2028 to 02/15/2035 57,505 66,025
       7.000%, 11/15/2031 to 11/15/2033 400,692 465,856
       8.000%, 07/15/2030 6,548 7,872
69,683,201
TOTAL U.S. GOVERNMENT AND AGENCY
OBLIGATIONS (Cost $113,788,512) $ 114,173,949
 
FOREIGN GOVERNMENT
OBLIGATIONS - 2.4%
Brazil - 0.7%
Federative Republic of Brazil, 0.000%
       (Linked to Brazilian SELIC; no
       payments until maturity)
       09/01/2020 (I) BRL 352,000 914,858
Federative Republic of Brazil
       4.250%, 01/07/2025 $ 285,000 282,150
       5.875%, 01/15/2019 750,000 843,750
2,040,758
Colombia - 0.1%
Republic of Colombia
       5.625%, 02/26/2044 200,000 220,000
Costa Rica - 0.2%
Republic of Costa Rica
       5.625%, 04/30/2043 725,000 619,875
Dominican Republic - 0.2%
Government of Dominican Republic
       11.500%, 05/10/2024 (S) DOP 30,000,000 722,767
France - 0.1%
Government of France
       0.250%, 07/25/2024 EUR 242,882 319,915
Italy - 0.1%
Republic of Italy
       2.350%, 09/15/2024 (S) 250,293 351,512
Mexico - 0.3%
Government of Mexico
       4.750%, 03/08/2044 $ 1,050,000 1,039,500
Russia - 0.1%
Government of Russia
       7.500%, 02/27/2019 RUB 18,650,000 441,993
South Africa - 0.2%
Republic of South Africa
       7.750%, 02/28/2023 ZAR 7,050,000 610,351
Spain - 0.1%
Kingdom of Spain
       1.800%, 11/30/2024 (S) EUR 239,417 331,314
Turkey - 0.1%
Republic of Turkey
       4.350%, 11/12/2021 225,000 304,932
Uruguay - 0.2%
Republic of Uruguay
       4.250%, 04/05/2027 UYU 13,836,547 614,244
TOTAL FOREIGN GOVERNMENT
OBLIGATIONS (Cost $7,774,620) $ 7,617,161
  
CORPORATE BONDS - 32.5%
Consumer discretionary - 4.0%
21st Century Fox America, Inc.
       7.750%, 01/20/2024 $ 622,000 785,298
       7.850%, 03/01/2039 325,000 457,422
Arcelik AS
       5.000%, 04/03/2023 (S) 265,000 249,100
AutoZone, Inc.
       3.700%, 04/15/2022 420,000 427,964
       4.000%, 11/15/2020 125,000 132,534
British Sky Broadcasting Group Plc
       2.625%, 09/16/2019 (S) 490,000 489,816
Buffalo Thunder Development Authority
       9.375%, 12/15/2014 (H)(S) 85,000 35,913
CCO Holdings LLC
       5.125%, 02/15/2023 5,000 4,800
       5.250%, 09/30/2022 5,000 4,894
       5.750%, 09/01/2023 35,000 34,825
Comcast Cable Communications LLC
       8.500%, 05/01/2027 556,000 782,083
Cox Communications, Inc.
       2.950%, 06/30/2023 (S) 310,000 290,233
       5.875%, 12/01/2016 (S) 850,000 930,599
       8.375%, 03/01/2039 (S) 85,000 120,493

The accompanying notes are an integral part of the financial statements. 142


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Investment Quality Bond Trust (continued)

Shares or
Principal
Amount		       Value
CORPORATE BONDS (continued)
Consumer discretionary (continued)
DIRECTV Holdings LLC
       1.750%, 01/15/2018 $ 500,000 $ 497,631
       2.400%, 03/15/2017 225,000 230,038
DISH DBS Corp.
       5.875%, 07/15/2022 10,000 10,200
       6.750%, 06/01/2021 281,000 302,075
Ford Motor Credit Company LLC
       3.875%, 01/15/2015 350,000 353,359
       5.000%, 05/15/2018 255,000 278,543
Gannett Company, Inc.
       5.125%, 10/15/2019 (S) 225,000 227,250
       5.125%, 07/15/2020 220,000 220,550
General Motors Financial Company, Inc.
       3.500%, 07/10/2019 660,000 665,091
       4.750%, 08/15/2017 545,000 573,613
Group 1 Automotive, Inc.
       5.000%, 06/01/2022 (S) 80,000 77,400
Sotheby’s  
       5.250%, 10/01/2022 (S) 120,000   113,700
TCI Communications, Inc.
       8.750%, 08/01/2015   692,000 739,074
Time Warner Cable, Inc.  
       5.000%, 02/01/2020 700,000 778,053
       5.875%, 11/15/2040 360,000 423,582
       6.750%, 07/01/2018 250,000 290,729
Time Warner, Inc.
       2.100%, 06/01/2019 575,000 565,252
       6.100%, 07/15/2040 180,000 208,668
       7.700%, 05/01/2032 598,000 819,412
Viacom, Inc.
       4.375%, 03/15/2043 88,000 81,022
       5.625%, 09/15/2019 300,000 341,437
12,542,653
Consumer staples - 1.3%
Altria Group, Inc.
       9.250%, 08/06/2019 80,000 104,166
       9.700%, 11/10/2018 236,000 304,068
       10.200%, 02/06/2039 97,000 163,440
Anheuser-Busch InBev Worldwide, Inc.
       0.800%, 07/15/2015 325,000 325,946
Coca-Cola Enterprises, Inc.
       2.125%, 09/15/2015 780,000 791,470
CVS Health Corp.
       4.125%, 05/15/2021 425,000 455,225
Grupo Bimbo SAB de CV
       4.875%, 06/27/2044 (S) 740,000 715,240
Molson Coors Brewing Company
       3.500%, 05/01/2022 170,000 170,851
Sysco Corp.
       2.350%, 10/02/2019 415,000 414,878
Wal-Mart Stores, Inc.
       4.300%, 04/22/2044 375,000 377,844
       6.500%, 08/15/2037 200,000 264,894
4,088,022
Energy - 2.7%
Anadarko Petroleum Corp.
       5.950%, 09/15/2016 400,000 436,292
California Resources Corp.
       5.000%, 01/15/2020 (S) 15,000 15,225
       5.500%, 09/15/2021 (S) 35,000 35,525
       6.000%, 11/15/2024 (S) 25,000 25,688
Cenovus Energy, Inc.
       5.200%, 09/15/2043 825,000 882,493
CenterPoint Energy Resources Corp.
       6.125%, 11/01/2017 400,000 454,047
CNPC General Capital, Ltd.
       1.950%, 04/16/2018 (S) 655,000 644,122
Denbury Resources, Inc.
       5.500%, 05/01/2022 75,000 74,438
EDC Finance, Ltd.
       4.875%, 04/17/2020 (S) 305,000 274,500
El Paso Corp.
       6.500%, 09/15/2020 40,000 45,000
Energy Transfer Equity LP
       7.500%, 10/15/2020 200,000 223,500
Energy Transfer Partners LP
       3.600%, 02/01/2023 760,000 739,976
       5.950%, 10/01/2043 600,000 643,226
Harvest Operations Corp.
       6.875%, 10/01/2017 165,000 172,013
Hess Corp.
       1.300%, 06/15/2017 330,000 328,770
Kinder Morgan Energy Partners LP
       5.500%, 03/01/2044 305,000 305,680
Kinder Morgan, Inc.
       7.000%, 06/15/2017 230,000 253,575
Lukoil International Finance BV
       3.416%, 04/24/2018 (S) 815,000 763,044
Newfield Exploration Company
       6.875%, 02/01/2020 140,000 145,950
Nexen Energy ULC
       6.200%, 07/30/2019 90,000 104,453
       7.500%, 07/30/2039 125,000 172,407
Peabody Energy Corp.
       6.500%, 09/15/2020 (L) 220,000 205,700
Petrobras International Finance Company
       5.375%, 01/27/2021 410,000 414,059
Plains All American Pipeline LP
       3.850%, 10/15/2023 225,000 228,544
Williams Partners LP
       3.900%, 01/15/2025 565,000 554,897
       4.300%, 03/04/2024 465,000 474,411
WPX Energy, Inc.
       5.250%, 09/15/2024 20,000 19,350
8,636,885
Financials - 16.8%
American International Group, Inc.
       4.500%, 07/16/2044 260,000 256,864
       5.450%, 05/18/2017 95,000 104,697
       6.400%, 12/15/2020 275,000 326,447
Asian Development Bank
       6.350%, 08/17/2016 INR 20,000,000 323,784
AXA Equitable Life Insurance Company
       7.700%, 12/01/2015 (S) $ 680,000 729,271
Banco Bilbao Vizcaya Argentaria SA
       (7.000% to 02/19/2019, then 5 year
       Euro Swap Rate + 6.155%)
       02/19/2019 (Q) EUR 600,000 798,805
Banco Bilbao Vizcaya Argentaria SA
       (9.000% to 05/19/2018, then 5 Year
       U.S. Swap Rate + 8.262%)
       05/19/2018 (Q) $ 400,000 425,000

The accompanying notes are an integral part of the financial statements. 143


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Investment Quality Bond Trust (continued)

Shares or
Principal
Amount       Value
CORPORATE BONDS (continued)
Financials (continued)
Banco Santander SA (6.250% to
       03/12/2019, then 5 year Euro Swap
       Rate + 5.410%)
       03/12/2019 (Q) EUR 800,000 $ 978,864
Bank of America Corp.
       4.100%, 07/24/2023 $ 150,000 153,175
       4.200%, 08/26/2024 170,000 168,309
       5.625%, 07/01/2020 945,000 1,068,408
       6.400%, 08/28/2017 1,200,000 1,350,152
       7.750%, 05/14/2038 825,000 1,112,708
Bank of Ireland
       10.000%, 07/30/2016 EUR 200,000 272,819
Barclays Bank PLC
       6.050%, 12/04/2017 (S) $ 1,680,000 1,867,574
Barclays PLC (8.000% to 12/15/2020, then  
       5 Year Euro Swap Rate + 6.750%)  
       12/15/2020 (Q) EUR 200,000 262,715
Barclays PLC (8.250% to 12/15/2018, then
       5 year U.S. Swap Rate + 6.705%)
       12/15/2018 (Q) $ 225,000 230,906
BPCE SA
       2.500%, 12/10/2018   575,000 576,515
       5.150%, 07/21/2024 (S) 440,000 453,551
       5.700%, 10/22/2023 (S) 595,000 632,907
Brandywine Operating Partnership LP  
       4.950%, 04/15/2018 400,000 431,212
       5.700%, 05/01/2017 825,000 899,106
Capital One Financial Corp.
       6.150%, 09/01/2016 950,000 1,037,953
CIT Group, Inc.
       5.500%, 02/15/2019 (S) 375,000 391,406
Citigroup, Inc.
       5.375%, 08/09/2020 28,000 31,694
       5.500%, 09/13/2025 320,000 349,022
       6.125%, 08/25/2036 850,000 974,581
       6.675%, 09/13/2043 180,000 220,615
       8.500%, 05/22/2019 850,000 1,062,679
Credit Agricole SA (6.500% to
       06/23/2021, then 5 Year U.S. Swap
       Rate + 5.120%)
       06/23/2021 (Q) EUR 275,000 349,944
Credit Agricole SA (8.125% to
       09/19/2018, then 5 Year U.S. Swap
       Rate + 6.283%)
       09/19/2033 (S) $ 200,000 221,955
Credit Suisse AG (5.750% to 09/18/2020,
       then 5 Year Euro Swap Rate + 4.000%)
       09/18/2025 EUR 200,000 276,899
Credit Suisse Group AG (7.500% to
       12/11/2023, then 5 year U.S. Swap
       Rate + 4.598%)
       12/11/2023 (Q)(S) $ 415,000 435,750
Credit Suisse Group Guernsey I, Ltd.
       (7.875% to 08/24/2016, then 5 Year
       U.S. Swap Rate + 5.220%)
       02/24/2041 100,000 106,000
Discover Financial Services
       6.450%, 06/12/2017 885,000 991,357
Duke Realty LP
       6.750%, 03/15/2020 340,000 401,354
Equity One, Inc.
       6.000%, 09/15/2017 400,000 442,354
Everest Reinsurance Holdings, Inc.
       (6.600% to 05/15/2017, then 3 month
       LIBOR + 2.385%)
       05/15/2037 800,000 836,000
General Electric Capital Corp.
       5.625%, 05/01/2018 75,000 84,804
       5.875%, 01/14/2038 850,000 1,025,241
General Electric Capital Corp. (6.250% to
       12/15/2022, then 3 month
       LIBOR + 4.704%)
       12/15/2022 (Q) 400,000 431,000
Hartford Financial Services Group, Inc.
       (8.125% to 06/15/2018, then 3 month
       LIBOR + 4.6025%)
       06/15/2038 195,000 228,638
HCP, Inc.
       4.200%, 03/01/2024 175,000 176,671
       7.072%, 06/08/2015 433,000 451,725
Health Care REIT, Inc.
       4.500%, 01/15/2024 350,000 360,193
       5.250%, 01/15/2022 781,000 864,234
HSBC Holdings PLC
       5.625%, 01/17/2020 (P)(Q) 400,000 397,200
       6.500%, 09/15/2037 165,000 202,987
       6.800%, 06/01/2038 355,000 455,381
HSBC USA, Inc.
       2.375%, 02/13/2015 560,000 564,209
Intesa Sanpaolo SpA
       2.375%, 01/13/2017 600,000 606,703
JPMorgan Chase & Company
       3.375%, 05/01/2023 165,000 158,102
       4.250%, 10/15/2020 225,000 239,864
       4.850%, 02/01/2044 225,000 235,700
       5.625%, 08/16/2043 905,000 1,002,869
       6.000%, 01/15/2018 600,000 675,412
       6.300%, 04/23/2019 180,000 208,830
KBC Groep NV (5.625% to 03/19/2019,
       then 5 Year Euro Swap Rate + 4.759%)
       03/19/2019 (Q) EUR 120,000 145,314
Kimco Realty Corp.
       5.584%, 11/23/2015 $ 310,000 326,174
       6.875%, 10/01/2019 560,000 665,388
Liberty Property LP
       3.375%, 06/15/2023 180,000 174,707
       4.125%, 06/15/2022 150,000 155,461
       6.625%, 10/01/2017 210,000 237,580
Lloyds Banking Group PLC (6.375% to
       06/27/2020, then 5 Year Euro Swap
       Rate + 5.290%)
       06/27/2020 (Q) EUR 450,000 584,003
Lloyds Banking Group PLC (7.000% to
       06/27/2019, then 5 Year British Pound
       Swap Rate + 5.060%)
       06/27/2019 (Q) GBP 200,000 320,015
Marsh & McLennan Companies, Inc.
       2.550%, 10/15/2018 $ 280,000 284,790
       3.500%, 03/10/2025 235,000 231,174
Massachusetts Mutual Life
       Insurance Company
       5.375%, 12/01/2041 (S) 140,000 154,767
       8.875%, 06/01/2039 (S) 410,000 633,362
Morgan Stanley
       4.350%, 09/08/2026 500,000 491,572

The accompanying notes are an integral part of the financial statements. 144


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Investment Quality Bond Trust (continued)

Shares or
Principal
Amount		       Value
CORPORATE BONDS (continued)
Financials (continued)
Morgan Stanley (continued)
       4.875%, 11/01/2022 $ 361,000 $ 381,227
       5.550%, 04/27/2017 355,000 388,699
       6.625%, 04/01/2018 1,225,000 1,403,117
Nationwide Building Society (6.875% to
       06/20/2019, then 5 year British Pound
       Swap Rate + 4.880%)
       06/20/2019 (Q) GBP 460,000 719,815
Nationwide Mutual Insurance Company
       8.250%, 12/01/2031 (S) $ 615,000 838,684
Navient LLC
       5.500%, 01/15/2019 120,000 122,400
       7.250%, 01/25/2022 55,000 59,675
       8.000%, 03/25/2020 10,000 11,213
       8.450%, 06/15/2018 100,000 112,500
PNC Funding Corp.
       5.625%, 02/01/2017 1,100,000   1,199,218
Principal Life Global Funding I
       6.125%, 10/15/2033 (S) 197,000   244,750
Prologis LP  
       3.350%, 02/01/2021 925,000 923,167
Prudential Financial, Inc.  
       4.600%, 05/15/2044 1,150,000 1,139,076
Realty Income Corp.  
       3.250%, 10/15/2022 245,000 239,494
       6.750%, 08/15/2019 410,000 484,148
Royal Bank of Scotland Group PLC
       5.125%, 05/28/2024 490,000 481,586
Santander Bank NA
       8.750%, 05/30/2018 250,000 302,210
Societe Generale SA (6.000% to
       01/27/2020, then 5 Year U.S. Swap
       Rate + 4.067%)
       01/27/2020 (Q)(S) 245,000 224,396
Societe Generale SA (6.750% to
       04/07/2021, then 5 year U.S. Swap
       Rate + 5.538%)
       04/07/2021 (Q) EUR 425,000 534,112
Societe Generale SA (8.250% to
       11/29/2018, then 5 Year U.S. Swap
       Rate + 6.394%)
       11/29/2018 (Q) $ 725,000 745,300
Sumitomo Mitsui Financial Group, Inc.
       4.436%, 04/02/2024 (S) 800,000 819,724
Sun Canada Financial Company
       7.250%, 12/15/2015 (S) 1,471,000 1,579,008
SunTrust Banks, Inc.
       3.600%, 04/15/2016 705,000 733,759
The Bear Stearns Companies LLC
       6.400%, 10/02/2017 85,000 96,156
       7.250%, 02/01/2018 230,000 267,600
The Goldman Sachs Group, Inc.
       4.000%, 03/03/2024 230,000 231,717
       4.800%, 07/08/2044 175,000 175,972
       6.750%, 10/01/2037 865,000 1,028,739
UDR, Inc.
       3.700%, 10/01/2020 165,000 170,415
UniCredit SpA (8.000% to 06/03/2024,
       then 5 Year U.S. Swap Rate + 5.180%)
       06/03/2024 (Q) 200,000 198,348
Ventas Realty LP
       2.700%, 04/01/2020 295,000 290,297
       4.750%, 06/01/2021 575,000 626,144
Wells Fargo & Co
       3.300%, 09/09/2024 525,000 515,200
Wells Fargo & Company
       3.450%, 02/13/2023 350,000 344,013
       4.100%, 06/03/2026 630,000 627,994
       4.125%, 08/15/2023 370,000 382,654
       5.375%, 11/02/2043 145,000 158,615
       5.606%, 01/15/2044 300,000 337,578
53,466,142
Health care - 1.6%
Actavis Funding SCS
       3.850%, 06/15/2024 (S) 1,000,000 969,653
Amgen, Inc.
       5.150%, 11/15/2041 105,000 110,824
       6.900%, 06/01/2038 205,000 265,330
Community Health Systems, Inc.
       5.125%, 08/01/2021 (S) 75,000 74,813
Express Scripts Holding Company
       2.100%, 02/12/2015 1,575,000 1,584,007
HCA, Inc.
       5.875%, 03/15/2022 130,000 136,663
       6.500%, 02/15/2020 365,000 398,306
Humana Inc
       2.625%, 10/01/2019 270,000 269,897
Tenet Healthcare Corp.
       6.000%, 10/01/2020 385,000 407,138
WellCare Health Plans, Inc.
       5.750%, 11/15/2020 85,000 86,488
WellPoint, Inc.
       2.300%, 07/15/2018 25,000 25,069
       5.100%, 01/15/2044 125,000 132,814
       7.000%, 02/15/2019 485,000 577,960
5,038,962
Industrials - 1.4%
AerCap Ireland Capital, Ltd.
       4.500%, 05/15/2021 (S) 170,000 164,900
Air Lease Corp.
       4.500%, 01/15/2016 725,000 750,375
Canadian Pacific Railway Company
       9.450%, 08/01/2021 175,000 237,684
Clean Harbors, Inc.
       5.125%, 06/01/2021 20,000 19,825
       5.250%, 08/01/2020 91,000 91,000
Huntington Ingalls Industries, Inc.
       7.125%, 03/15/2021 161,000 173,478
Hutchison Whampoa International 11, Ltd.
       3.500%, 01/13/2017 (S) 1,060,000 1,109,553
Penske Truck Leasing Company LP
       4.250%, 01/17/2023 (S) 975,000 1,002,811
       4.875%, 07/11/2022 (S) 125,000 134,362
Ryder System, Inc.
       2.550%, 06/01/2019 235,000 235,372
The ADT Corp.
       6.250%, 10/15/2021 (L) 200,000 207,000
Waste Management, Inc.
       6.375%, 03/11/2015 375,000 384,419
4,510,779
Information technology - 0.4%
Activision Blizzard, Inc.
       5.625%, 09/15/2021 (S) 200,000 208,000

The accompanying notes are an integral part of the financial statements. 145


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Investment Quality Bond Trust (continued)

Shares or
Principal
Amount       Value
CORPORATE BONDS (continued)
Information technology (continued)
Cardtronics, Inc.
       5.125%, 08/01/2022 (S) $ 90,000 $ 88,650
NCR Corp.
       4.625%, 02/15/2021 190,000 186,200
       5.000%, 07/15/2022 20,000 19,550
TSMC Global, Ltd.
       1.625%, 04/03/2018 (S) 925,000 913,549
1,415,949
Materials - 0.8%
ABJA Investment Company Pte, Ltd.
       5.950%, 07/31/2024 545,000 551,540
Barrick Gold Corp.  
       4.100%, 05/01/2023 225,000 216,257
CF Industries, Inc.
       5.150%, 03/15/2034 665,000 700,753
Clearwater Paper Corp.
       5.375%, 02/01/2025 (S) 85,000 83,938
FMG Resources August 2006 Pty, Ltd.
       6.875%, 04/01/2022 (S) 40,000 40,700
Glencore Funding LLC  
       1.700%, 05/27/2016 (S) 405,000 407,722
Steel Dynamics, Inc.
       5.125%, 10/01/2021 (S) 30,000 30,450
       5.500%, 10/01/2024 (S) 45,000 45,225
United States Steel Corp.
       7.375%, 04/01/2020 90,000 99,900
Vale Canada, Ltd.
       5.700%, 10/15/2015 217,000 227,508
2,403,993
Telecommunication services - 2.4%
AT&T, Inc.
       4.800%, 06/15/2044 505,000 496,780
SBA Tower Trust
       2.933%, 12/15/2017 (S) 520,000 527,368
       3.598%, 04/15/2018 (S) 730,000 729,893
Sprint Communications, Inc.
       7.000%, 03/01/2020 (S) 150,000 164,438
       9.000%, 11/15/2018 (S) 80,000 92,500
Sprint Corp.
       7.125%, 06/15/2024 (S) 195,000 196,463
T-Mobile USA, Inc.
       6.125%, 01/15/2022 10,000 10,050
       6.464%, 04/28/2019 155,000 161,006
       6.500%, 01/15/2024 15,000 15,188
       6.633%, 04/28/2021 65,000 66,625
       6.731%, 04/28/2022 175,000 178,938
       6.836%, 04/28/2023 25,000 25,688
Verizon Communications, Inc.
       2.625%, 02/21/2020 (S) 611,000 603,483
       5.012%, 08/21/2054 (S) 595,000 597,824
       5.150%, 09/15/2023 1,275,000 1,410,221
       6.550%, 09/15/2043 1,656,000 2,068,993
VimpelCom Holdings BV
       5.950%, 02/13/2023 (S) 365,000 333,975
7,679,433
Utilities - 1.1%
AES Corp.
       5.500%, 03/15/2024 135,000 131,288
Calpine Corp.
       5.875%, 01/15/2024 (S) 35,000 36,225
CenterPoint Energy, Inc.
       6.500%, 05/01/2018 165,000 190,280
DPL, Inc.
       7.250%, 10/15/2021 45,000 46,463
Edison International
       3.750%, 09/15/2017 495,000 524,057
Oncor Electric Delivery Company LLC
       7.500%, 09/01/2038 145,000 212,259
Pacific Gas & Electric Company
       3.750%, 02/15/2024 265,000 271,220
Progress Energy, Inc.
       7.000%, 10/30/2031 270,000 356,588
Puget Sound Energy, Inc.
       5.757%, 10/01/2039 15,000 18,449
       7.000%, 03/09/2029 346,000 438,206
Sierra Pacific Power Company
       6.000%, 05/15/2016 425,000 459,155
Wisconsin Energy Corp.
       6.200%, 04/01/2033 217,000 270,584
Xcel Energy, Inc.
       6.500%, 07/01/2036 285,000 372,294
3,327,068
TOTAL CORPORATE BONDS (Cost $98,932,682) $ 103,109,886
 
CAPITAL PREFERRED SECURITIES - 0.3%
Financials - 0.3%
ACE Capital Trust II
       9.700%, 04/01/2030 527,000 773,373
TOTAL CAPITAL PREFERRED SECURITIES (Cost $708,051) $ 773,373
  
MUNICIPAL BONDS - 1.7%
Chicago O’Hare International Airport
       (Illinois) 6.845%, 01/01/2038 290,000 324,725
Los Angeles Unified School District
       (California) 5.750%, 07/01/2034 50,000 60,429
New Jersey State Turnpike Authority
       7.414%, 01/01/2040 465,000 666,224
Port Authority of New York & New Jersey
       6.040%, 12/01/2029 400,000 498,868
Puerto Rico Commonwealth Government
       Employees Retirement System, Series A
       6.150%, 07/01/2038 475,000 272,992
       6.200%, 07/01/2039 525,000 301,707
Puerto Rico Commonwealth Government
       Employees Retirement System, Series B
       6.550%, 07/01/2058 195,000 112,031
Puerto Rico Commonwealth Government
       Employees Retirement System, Series C
       6.300%, 07/01/2043 710,000 407,994
State of California
       7.600%, 11/01/2040 75,000 110,937
       7.550%, 04/01/2039 350,000 510,888
       7.300%, 10/01/2039 550,000 767,349
State of Illinois, GO 5.665%, 03/01/2018 825,000 913,226
University of California
       5.770%, 05/15/2043 35,000 42,504
       4.601%, 05/15/2031 495,000 531,511
TOTAL MUNICIPAL BONDS (Cost $4,646,867) $ 5,521,385

The accompanying notes are an integral part of the financial statements. 146


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Investment Quality Bond Trust (continued)

Shares or
Principal
Amount       Value
TERM LOANS (M) - 4.1%
Consumer discretionary - 1.5%
24 Hour Fitness Worldwide, Inc.
       4.750%, 05/28/2021 $ 99,750 $ 99,345
99 Cents Only Stores
       4.500%, 01/11/2019 173,250 171,554
Acosta, Inc. TBD 09/26/2021 (T) 100,000 99,999
Advantage Sales & Marketing, Inc.
       3.750%, 07/23/2021 265,726 260,943
Aristocrat Leisure, Ltd.  
       TBD 09/29/2021 (T) 115,000 113,597
BJ’s Wholesale Club, Inc.
       4.500%, 09/26/2019 525,528 516,706
Charter Communications Operating LLC
       4.250%, 09/12/2021 100,000 99,571
CityCenter Holdings LLC
       4.250%, 10/16/2020 204,585 202,027
Delta 2 Lux SARL
       4.750%, 07/30/2021 150,000 147,750
Hilton Worldwide Finance LLC  
       3.500%, 10/26/2020 362,632 356,674
Ion Media Networks, Inc.  
       5.000%, 12/18/2020 178,650 178,650
Neiman Marcus Group, Ltd. LLC  
       4.250%, 10/25/2020 441,668 433,510
Scientific Games Corp.
       TBD 09/17/2021 (T) 115,000 112,436
Serta Simmons Holdings LLC
       4.250%, 10/01/2019 238,283 236,132
SRAM LLC
       4.018%, 04/10/2020 277,876 272,434
The ServiceMaster Company LLC
       4.250%, 07/01/2021 447,722 440,866
Town Sports International LLC
       4.500%, 11/16/2020 292,788 251,797
Tribune Media Company
       4.000%, 12/27/2020 756,133 745,973
4,739,964
Consumer staples - 0.0%
Albertson’s Holdings LLC
       4.500%, 08/25/2021 110,000 109,313
Energy - 0.2%
Arch Coal, Inc.
       6.250%, 05/16/2018 123,737 112,879
Sandy Creek Energy Associates LP
       5.000%, 11/06/2020 430,840 429,009
Seadrill Operating LP
       4.000%, 02/21/2021 109,449 103,781
Western Refining, Inc.
       4.250%, 11/12/2020 148,875 148,038
793,707
Financials - 0.6%
ARG IH Corp.
       4.750%, 11/15/2020 109,175 108,902
Asurion LLC
       4.250%, 07/08/2020 395,990 389,308
       8.500%, 03/03/2021 145,000 146,510
Gardner Denver, Inc.
       4.250%, 07/30/2020 396,000 387,635
Nuveen Investments, Inc.
       4.157%, 05/15/2017 400,000 398,500
       6.500%, 02/28/2019 100,000 100,000
The Brickman Group, Ltd. LLC
       4.000%, 12/18/2020 243,164 237,997
1,768,852
Health care - 0.5%
Brand Energy & Infrastructure
       Services, Inc.
       4.750%, 11/26/2020 203,463 202,623
Community Health Systems, Inc.
       4.250%, 01/27/2021 109,175 108,779
Medpace Holdings, Inc.
       4.750%, 04/01/2021 114,340 114,006
Opal Acquisition, Inc.
       5.000%, 11/27/2020 496,250 495,009
PRA Holdings, Inc.
       4.500%, 09/23/2020 262,350 259,727
Salix Pharmaceuticals, Ltd.
       4.250%, 01/02/2020 279,125 278,278
1,458,422
Industrials - 0.3%
AFGlobal Corp.
       5.000%, 12/19/2019 118,803 118,432
Filtration Group, Inc.
       4.500%, 11/21/2020 138,950 138,603
Fly Funding II SARL
       4.500%, 08/09/2018 158,813 158,415
Gates Global LLC
       4.250%, 07/05/2021 135,000 132,493
Pro Mach, Inc.
       4.500%, 07/06/2017 143,547 142,471
RBS Global, Inc.
       4.000%, 08/21/2020 396,000 389,235
1,079,649
Information technology - 0.3%
Avago Technologies Cayman, Ltd.
       3.750%, 05/06/2021 134,663 133,316
Freescale Semiconductor, Inc.
       4.250%, 02/28/2020 321,752 316,389
Zayo Group LLC
       4.000%, 07/02/2019 395,452 389,108
838,813
Materials - 0.4%
Berry Plastics Group, Inc.
       3.750%, 01/06/2021 601,975 587,594
Coveris Holdings SA
       5.250%, 05/08/2019 223,313 224,057
FMG Resources August 2006 Pty, Ltd.
       3.750%, 06/30/2019 518,009 506,785
1,318,436
Telecommunication services - 0.3%
Intelsat Jackson Holdings SA
       3.750%, 06/30/2019 647,000 636,216
Level 3 Financing, Inc.
       4.000%, 01/15/2020 200,000 196,250
832,466
TOTAL TERM LOANS (Cost $13,098,744) $ 12,939,622

The accompanying notes are an integral part of the financial statements. 147


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Investment Quality Bond Trust (continued)

Shares or
Principal
Amount       Value
COLLATERALIZED MORTGAGE    
OBLIGATIONS - 14.0%    
Commercial and residential - 14.0%    
Alternative Loan Trust    
       Series 2005-56, Class 5A1,    
              0.475%, 11/25/2035 (P) $ 193,218 $ 157,454
       Series 2006-9T1, Class A1,      
              5.750%, 05/25/2036 227,141   193,890
       Series 2007-19, Class 2A1,    
              6.500%, 08/25/2037 371,984   269,283
       Series 2007-9T1, Class 2A1,    
              6.000%, 05/25/2037 110,353   90,425
American Home Mortgage Assets Trust    
       Series 2006-3, Class 2A11,      
              1.055%, 10/25/2046 (P) 79,392   57,568
       Series 2007-2, Class A1,    
              0.280%, 03/25/2047 (P) 48,577   40,223
Banc of America Commercial    
       Mortgage Trust, Series 2007-4,    
       Class A4 5.948%, 02/10/2051 (P) 698,375   766,929
Banc of America Funding Trust,    
       Series 2006-H, Class 6A1    
       0.344%, 10/20/2036 (P) 182,802   131,631
BB-UBS Trust, Series 2012-SHOW,    
       Class A 3.430%, 11/05/2036 (S) 365,000   360,154
BBCMS Trust, Series 2013-TYSN,    
       Class A2 3.756%, 09/05/2032 (S) 330,000   345,798
BCAP LLC Trust    
       Series 2006-AA2, Class A1,    
              0.325%, 01/25/2037 (P) 292,927   222,025
       Series 2007-AA2, Class 12A1,    
              0.365%, 05/25/2047 (P) 217,238   165,330
Bear Stearns Alt-A Trust, Series 2006-3,    
       Class 1A1 0.535%, 05/25/2036 (P) 226,665   166,490
Bear Stearns Commercial    
       Mortgage Securities Trust    
       Series 2007-PW16, Class A4,    
              5.897%, 06/11/2040 (P) 300,000   329,561
       Series 2007-T26, Class A4,    
              5.471%, 01/12/2045 (P) 335,000   362,756
Chase Mortgage Finance Trust,    
       Series 2005-S3, Class A10    
       5.500%, 11/25/2035 290,000   288,503
CHL Mortgage Pass-Through Trust    
       Series 2005-2, Class 2A3,    
              0.495%, 03/25/2035 (P) 24,713   21,752
       Series 2007-12, Class A9,    
              5.750%, 08/25/2037 234,659   224,773
       Series 2007-HY1, Class 1A1,    
              2.657%, 04/25/2037 (P) 29,948   25,239
       Series 2007-HY4, Class 1A1,    
              2.584%, 09/25/2047 (P) 360,751   322,807
Citigroup Commercial Mortgage Trust    
       Series 2008-C7, Class A4,    
              6.339%, 12/10/2049 (P) 275,000   303,058
       Series 2013-GC15, Class A4,    
              4.371%, 09/10/2046 (P) 785,000   847,461
       Series 2014-GC19, Class A4,    
              4.023%, 03/10/2047 395,000   413,875
       Series 2014-GC21, Class A5,    
              3.855%, 05/10/2047 390,000   403,007
Citigroup/Deutsche Bank    
       Commercial Mortgage Trust    
       Series 2006-CD2, Class A4,    
              5.480%, 01/15/2046 (P) 465,000   484,334
       Series 2007-CD4, Class A4,    
              5.322%, 12/11/2049 850,000   907,972
Commercial Mortgage Loan Trust,    
       Series 2008-LS1, Class A4B    
       6.241%, 12/10/2049 (P) 659,992   714,514
Commercial Mortgage Pass    
       Through Certificates    
       Series 2006-C7, Class A4,    
              5.948%, 06/10/2046 (P) 467,645   495,747
       Series 2013-300P, Class A1,    
              4.353%, 08/10/2030 (S) 260,000   279,924
       Series 2013-CR12, Class A4,    
              4.046%, 10/10/2046 405,111   427,114
       Series 2013-CR9, Class A4,    
              4.378%, 07/10/2045 (P) 300,109   322,786
       Series 2013-WWP, Class A2,    
              3.424%, 03/10/2031 (S) 800,000   808,139
       Series 2014-CR16, Class A4,    
              4.051%, 04/10/2047 480,000   504,538
       Series 2014-CR17, Class A5,    
              3.977%, 05/10/2047 390,000   407,177
       Series 2014-CR18, Class A5,    
              3.828%, 07/15/2047 635,000   654,506
       Series 2014-LC15, Class A4,    
              4.006%, 04/10/2047 640,000   670,594
       Series 2014-UBS2, Class A5,    
              3.961%, 03/10/2047 400,000   417,755
       Series 2014-UBS4, Class A5,    
              3.694%, 08/10/2047 760,000   774,501
Credit Suisse First Boston Mortgage    
       Securities Corp., Series 2005-C3,    
       Class AJ 4.771%, 07/15/2037 255,000   259,487
Credit Suisse Mortgage Capital    
       Certificates Trust, Series 2006-C4,    
       Class A3 5.467%, 09/15/2039 558,016   594,145
Deutsche Alt-A Securities Mortgage    
       Loan Trust, Series 2007-AR2, Class A1    
       0.305%, 03/25/2037 (P) 150,385   103,767
First Horizon Alternative    
       Mortgage Securities Trust    
       Series 2005-AA7, Class 2A1,    
              2.239%, 09/25/2035 (P) 131,571   115,801
       Series 2005-AA9, Class 3A1,    
              2.234%, 11/25/2035 (P) 327,189   272,952
       Series 2006-AA1, Class 2A1,    
              2.210%, 04/25/2036 (P) 23,130   19,498
FREMF Mortgage Trust    
       Series 2010-K8, Class B,    
              5.405%, 09/25/2043 (P)(S) 520,000   570,846
       Series 2012-K706, Class B,    
              4.163%, 11/25/2044 (P)(S) 380,000   395,038
General Electric Capital Assurance    
       Company, Series 2003-1, Class A5    
       5.743%, 05/12/2035 (P)(S) 570,725   640,355
GMACM Mortgage Loan Trust    
       Series 2005-AR5, Class 4A1,    
              2.931%, 09/19/2035 (P) 98,202   92,243
       Series 2006-AR1, Class 1A1,    
              2.951%, 04/19/2036 (P) 492,116   435,564

The accompanying notes are an integral part of the financial statements. 148


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Investment Quality Bond Trust (continued)

Shares or
Principal
Amount       Value
COLLATERALIZED MORTGAGE
OBLIGATIONS (continued)
Commercial and residential (continued)
GS Mortgage Securities Trust
       Series 2012-ALOH, Class A,
              3.551%, 04/10/2034 (S) $ 670,000 $ 688,966
       Series 2013-GC14, Class A5,  
              4.243%, 08/10/2046 420,000 449,380
       Series 2014-GC20, Class A5,
              3.862%, 06/10/2047 640,000 661,457
       Series 2014-GC20, Class A5,
              3.998%, 04/10/2047 395,000   412,989
GSR Mortgage Loan Trust,
       Series 2006-AR1, Class 2A1
       2.742%, 01/25/2036 (P) 24,967 23,509
HarborView Mortgage Loan Trust  
       Series 2005-8, Class 1A2A,
              0.483%, 09/19/2035 (P) 97,866 74,609
       Series 2006-12, Class 2A13,
              0.393%, 12/19/2036 (P) 614,386 427,654
       Series 2006-12, Class 2A2A,
              0.343%, 01/19/2038 (P) 141,863 121,092
Hilton USA Trust, Series 2013-HLT,
       Class AFX 2.662%, 11/05/2030 (S) 825,000 827,975
IndyMac INDA Mortgage Loan Trust,
       Series 2006-AR3, Class 1A1  
       2.604%, 12/25/2036 (P) 471,693 414,606
IndyMac INDX Mortgage Loan Trust,
       Series 2005-AR13, Class 1A1
       2.465%, 08/25/2035 (P) 113,215 91,562
JPMBB Commercial
       Mortgage Securities Trust
       Series 2014-C19, Class A4,
              3.997%, 04/15/2047 395,000 413,322
       Series 2014-C21, Class A5,
              3.775%, 08/15/2047 825,000 847,292
       Series 2014-C22, Class A4,
              3.801%, 09/15/2047 655,000 672,197
       Series 2013-C17, Class A4,
              4.199%, 01/15/2047 250,000 265,943
JPMorgan Chase Commercial
       Mortgage Securities Corp.
       Series 2007-CB19, Class A4,
              5.892%, 02/12/2049 (P) 600,000 652,216
       Series 2012-WLDN, Class A,
              3.905%, 05/05/2030 (S) 475,000 487,078
       Series 2006-LDP9, Class A3,
              5.336%, 05/15/2047 902,791 967,228
JPMorgan Chase Commercial
       Mortgage Securities Trust
       Series 2013-C16, Class A4,
              4.166%, 12/15/2046 530,000 563,816
       Series 2014-C20, Class A5,
              3.805%, 07/15/2047 315,000 324,461
       Series 2006-CB14, Class A4,
              5.481%, 12/12/2044 (P) 1,351,906 1,404,682
JPMorgan Mortgage Trust,
       Series 2006-A3, Class 3A2
       2.708%, 05/25/2036 (P) 46,260 41,282
LB-UBS Commercial Mortgage Trust
       Series 2007-C6, Class A4,
              5.858%, 07/15/2040 (P) 592,758 628,028
       Series 2006-C4, Class A4,
              6.029%, 06/15/2038 (P) 994,573 1,058,470
       Series 2007-C2, Class A3,
              5.430%, 02/15/2040 302,898 328,002
Lehman XS Trust, Series 2006-16N,
       Class A4A 0.345%, 11/25/2046 (P) 337,017 280,457
Luminent Mortgage Trust, Series 2006-2,
       Class A1A 0.355%, 02/25/2046 (P) 290,865 215,641
Merrill Lynch Mortgage Investors Trust,
       Series 2005-A4, Class 1A
       2.519%, 07/25/2035 (P) 397,815 331,733
Merrill Lynch Mortgage Trust,
       Series 2006-C1, Class A4
       5.862%, 05/12/2039 (P) 500,000 528,156
Merrill Lynch/Countrywide
       Commercial Mortgage Trust
       Series 2007-5, Class A4,
              5.378%, 08/12/2048 751,856 803,720
       Series 2007-7, Class A4,
              5.810%, 06/12/2050 (P) 589,500 641,361
       Series 2007-9, Class A4,
              5.700%, 09/12/2049 445,000 487,739
Morgan Stanley Bank of America
       Merrill Lynch Trust
       Series 2014-C14, Class A5,
              4.064%, 02/15/2047 135,000 141,941
       Series 2014-C16, Class A5,
              3.892%, 06/15/2047 620,000 642,739
       Series 2014-C17, Class A5,
              3.741%, 08/15/2047 825,000 844,468
Morgan Stanley Capital I Trust
       Series 2006-IQ12, Class A4,
              5.332%, 12/15/2043 882,937 945,508
       Series 2007-IQ14, Class A4,
              5.692%, 04/15/2049 (P) 600,053 651,783
       Series 2007-IQ16, Class A4,
              5.809%, 12/12/2049 438,947 479,663
       Series 2007-T27, Class A4,
              5.831%, 06/11/2042 (P) 150,000 164,733
OBP Depositor LLC Trust,
       Series 2010-OBP, Class A
       4.646%, 07/15/2045 (S) 311,000 342,801
Residential Accredits Loans, Inc. Trust
       Series 2006-QO7, Class 1A1,
              0.915%, 09/25/2046 (P) 348,544 236,385
       Series 2007-QH9, Class A1,
              1.410%, 11/25/2037 (P) 186,120 120,741
RFMSI Series Trust, Series 2007-SA2,
       Class 2A1 3.055%, 04/25/2037 (P) 49,995 43,811
Sequoia Mortgage Trust, Series 2007-3,
       Class 2AA1 2.517%, 07/20/2037 (P) 34,425 28,252
Springleaf Mortgage Loan Trust,
       Series 2013-2A, Class M1
       3.520%, 12/25/2065 (P)(S) 605,000 617,456
Structured Adjustable Rate Mortgage
       Loan Trust, Series 2004-13, Class A2
       0.455%, 09/25/2034 (P) 40,210 35,998
Structured Asset Mortgage
       Investments II Trust, Series 2005-AR8,
       Class A1A 0.435%, 02/25/2036 (P) 33,083 26,406

The accompanying notes are an integral part of the financial statements. 149


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Investment Quality Bond Trust (continued)

Shares or
Principal
Amount       Value
COLLATERALIZED MORTGAGE
OBLIGATIONS (continued)  
Commercial and residential (continued)
UBS Commercial Mortgage Trust,
       Series 2012-C1, Class A3
       3.400%, 05/10/2045 $ 655,000 $ 665,386
UBS-Barclays Commercial
       Mortgage Trust, Series 2013-C5,
       Class A4 3.185%, 03/10/2046 450,000 447,279
Wells Fargo Mortgage
       Backed Securities Trust
       Series 2005-AR16, Class 4A8,  
              2.609%, 10/25/2035 (P) 225,000 211,572
       Series 2014-LC16, Class A5,
              3.817%, 08/15/2050 645,000 662,859
Wells Fargo Mortgage Backed  
       Securities Trust, Series 2006-AR16,
       Class A1 2.491%, 10/25/2036 (P) 295,230 276,329
WF-RBS Commercial Mortgage Trust
       Series 2013-C15, Class A4,
              4.153%, 08/15/2046 (P) 325,000 345,311
       Series 2014-C19, Class A5,
              4.101%, 03/15/2047 304,634 321,306
       Series 2014-C20, Class A5,
              3.995%, 05/15/2047 810,000 847,032
       Series 2014-C21, Class A5,
              3.678%, 08/15/2047 485,000 494,052
       Series 2014-LC14, Class A5,
              4.045%, 03/15/2047 765,000 802,505
U.S. government agency - 0.0%
Government National Mortgage
       Association, Series 2006-38, Class XS
       IO 7.096%, 09/16/2035 170,581 36,770
TOTAL COLLATERALIZED MORTGAGE
OBLIGATIONS (Cost $44,629,371) $ 44,448,998
 
ASSET BACKED SECURITIES - 3.7%
ABFC Trust, Series 2006-HE1, Class A2D
       0.375%, 01/25/2037 (P) 193,619 122,361
CAL Funding II, Ltd., Series 2012-1A,
       Class A 3.470%, 10/25/2027 (S) 161,667 161,355
CPS Auto Trust
       Series 2012-C, Class A,
              1.820%, 12/16/2019 (S) 163,846 165,346
       Series 2013-D, Class A,
              1.540%, 07/16/2018 (S) 226,892 227,724
Credit Acceptance Auto Loan Trust
       Series 2012-1A, Class B,
              3.120%, 03/16/2020 (S) 445,000 449,158
       Series 2013-1A, Class A,
              1.210%, 10/15/2020 (S) 505,000 505,754
       Series 2013-2A, Class A,
              1.500%, 04/15/2021 (S) 450,000 452,086
       Series 2014-1A, Class A,
              1.550%, 10/15/2021 (S) 450,000 451,770
       Series 2014-2A, Class A,
              1.880%, 03/15/2022 (S) 770,000 769,885
First Investors Auto Owner Trust
       Series 2012-1A, Class A2,
              1.960%, 11/15/2017 (S) 11,778 11,784
       Series 2013-1A, Class B,
              1.810%, 10/15/2018 (S) 120,000 120,754
       Series 2013-3A, Class A3,
              1.440%, 10/15/2019 (S) 360,000 359,811
       Series 2014-1A, Class A3,
              1.490%, 01/15/2020 (S) 245,000 245,283
Flagship Credit Auto Trust, Series 2014-1,
       Class A 1.210%, 04/15/2019 (S) 237,615 237,353
Ford Credit Floorplan Master
       Owner Trust A, Series 2014-1, Class B
       1.400%, 02/15/2019 150,000 149,361
GM Financial Automobile Leasing Trust,
       Series 2014-2A, Class B
       1.960%, 03/20/2018 (S) 130,000 129,830
GSAA Home Equity Trust
       Series 2006-15, Class AF6,
              5.876%, 09/25/2036 (P) 603,941 344,970
       Series 2006-20, Class 2A1A,
              0.205%, 12/25/2046 (P) 587,854 396,564
       Series 2007-3, Class 1A2,
              0.325%, 03/25/2047 (P) 919,272 485,878
       Series 2006-10, Class AF3,
              5.985%, 06/25/2036 (P) 234,684 138,311
GSAA Trust, Series 2005-7, Class AF4
       5.058%, 05/25/2035 (P) 325,000 291,374
GSAMP Trust, Series 2007-FM2,
       Class A2B 0.245%, 01/25/2037 (P) 356,760 219,616
Huntington Auto Trust, Series 2012-1,
       Class B 1.710%, 08/15/2017 291,000 294,655
Louisiana Local Government
       Environmental Facilities & Communities
       Development Authority,
       Series 2010-ELL, Class A2
       2.470%, 02/01/2019 1,110,913 1,133,465
Morgan Stanley ABS Capital I,
       Series 2006-HE4, Class A3
       0.305%, 06/25/2036 (P) 150,456 112,258
Newcastle Mortgage Securities Trust,
       Series 2007-1, Class 2A3
       0.385%, 04/25/2037 (P) 350,000 220,950
Prestige Auto Receivables Trust,
       Series 2012-1, Class B
       2.490%, 04/16/2018 (S) 336,000 341,238
Santander Drive Auto Receivables Trust
       Series 2010-2, Class C,
              3.890%, 07/17/2017 265,499 265,849
       Series 2012-5, Class B,
              1.560%, 08/15/2018 550,000 552,898
       Series 2013-5, Class C,
              2.250%, 06/17/2019 110,000 110,523
       Series 2014-1, Class C,
              2.360%, 04/15/2020 375,000 377,000
       Series 2014-4, Class B,
              1.820%, 05/15/2019 185,000 184,889
Securitized Asset Backed
       Receivables LLC Trust,
       Series 2006-HE1, Class A2B
       0.245%, 07/25/2036 (P) 196,464 95,884
Soundview Home Loan Trust,
       Series 2007-OPT2, Class 2A3
       0.335%, 07/25/2037 (P) 45,000 28,644
SpringCastle America Funding LLC,
       Series 2014-AA, Class A
       2.700%, 05/25/2023 (S) 825,000 824,918
Springleaf Funding Trust, Series 2014-AA,
       Class A 2.410%, 12/15/2022 (S) 715,000 713,624

The accompanying notes are an integral part of the financial statements. 150


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Investment Quality Bond Trust (continued)

Shares or
 Principal
Amount       Value
ASSET BACKED SECURITIES (continued)  
Volvo Financial Equipment LLC,
       Series 2012-1A, Class B
       1.510%, 08/15/2017 (S) $ 176,000 $ 177,099
TOTAL ASSET BACKED SECURITIES (Cost $11,709,174)       $ 11,870,222
 
PREFERRED SECURITIES - 0.2%
Financials - 0.2%
Citigroup Capital XIII (7.875% to
       10/30/2015, then
       3 month LIBOR + 6.370%) 23,000 $ 619,160
TOTAL PREFERRED SECURITIES (Cost $644,000)   $ 619,160
 
PURCHASED OPTIONS - 0.0%  
Put options - 0.0%
Over the Counter on 10 Year Interest Rate
       Swap. Receive a fixed rate of 3.500%
       and pay a floating rate based on 1-year
       LIBOR (Expiration Date: 04/29/2015;
       Strike Rate: 3.500%; Counterparty:
       Goldman Sachs & Company) (I) 4,695,000 19,869
Over the Counter on Italian Government
       Bond (Expiration Date: 10/13/2014;
       Strike Price: EUR 106.60; Counterparty:
       JPMorgan Chase Bank) (I) 1,084,953 0
Over the Counter on Italian Government
       Bond (Expiration Date: 10/13/2014;
       Strike Price: EUR 106.70; Counterparty:
       Morgan Stanley & Company, Inc.) (I) 1,124,880 0
Over the Counter on Italian Government
       Bond (Expiration Date: 10/14/2014;
       Strike Price: EUR 106.75; Counterparty:
       Morgan Stanley & Company, Inc.) (I) 2,249,760 0
19,869
TOTAL PURCHASED OPTIONS (Cost $157,705)   $ 19,869
 
SECURITIES LENDING COLLATERAL - 0.1%  
John Hancock Collateral
       Investment Trust, 0.1178% (W)(Y) 37,886 379,124
TOTAL SECURITIES LENDING
COLLATERAL (Cost $379,117) $ 379,124
 
SHORT-TERM INVESTMENTS - 28.2%
Repurchase agreement - 28.2%
Goldman Sachs Tri-Party Repurchase
       Agreement dated 09/30/2014 at 0.010%
       to be repurchased at $57,600,016 on
       10/01/2014, collateralized by
       $37,786,798 Federal National Mortgage
       Association, 3.500% - 3.564% due
       09/01/2041 - 04/01/2043 (valued at
       $39,254,132, including interest) and
       collateralized by $17,998,204 Federal
       Home Loan Mortgage Corp., 4.500%
       due 07/01/2040 (valued at $19,497,869,
       including interest) $ 57,600,000 $ 57,600,000
Deutsche Bank Tri-Party Repurchase
       Agreement dated 09/30/2014 at 0.010%
       to be repurchased at $32,000,009 on
       10/01/2014, collateralized by
       $32,876,500 U.S. Treasury Notes,
       2.375% due 08/15/2024 (valued at
       $32,640,077, including interest) 32,000,000 32,000,000
89,600,000
TOTAL SHORT-TERM INVESTMENTS (Cost $89,600,000)     $ 89,600,000
Total Investments (Investment Quality Bond Trust)    
       (Cost $386,068,843) - 123.1% $ 391,072,749
Other assets and liabilities, net - (23.1%)   (73,261,312 )
TOTAL NET ASSETS - 100.0% $ 317,811,437

Lifestyle Aggressive MVP

Shares or
Principal
Amount       Value
AFFILIATED INVESTMENT COMPANIES (G) - 98.1%  
Equity - 98.1%  
All Cap Core, Series NAV (QS Investors) 522,538 $ 13,690,483
Alpha Opportunities, Series NAV (Wellington)   2,494,127 32,673,057
Blue Chip Growth, Series NAV (T.
       Rowe Price) 1,020,803 35,125,826
Capital Appreciation, Series NAV (Jennison) 1,920,680 28,810,196
Emerging Markets Value, Series NAV (DFA) 3,693,905 35,683,120
Equity-Income, Series NAV (T. Rowe Price) 2,429,572 45,724,544
Fundamental Large Cap Value, Series NAV
       (John Hancock) (A)(1) 2,670,385 45,823,802
International Core, Series NAV (GMO) 1,725,952 19,848,444
International Growth Opportunities,
       Series NAV (Baillie Gifford) 552,661 7,416,704
International Growth Stock,
       Series NAV (Invesco) 836,044 14,104,061
International Value, Series NAV (Templeton) 1,540,049 22,007,297
Mid Cap Stock, Series NAV (Wellington) 935,806 16,629,264
Mid Value, Series NAV (T. Rowe Price) 838,052 11,288,554
Real Estate Securities, Series NAV (Deutsche) 577,748 9,082,196
Small Cap Growth,
       Series NAV (Wellington) (I) 404,492 4,465,597
Small Cap Opportunities,
       Series NAV (DFA/Invesco) 201,736 5,981,482
Small Cap Value, Series NAV (Wellington) 133,994 2,967,965
Small Company Growth, Series NAV (Invesco) 112,713 2,940,681
Small Company Value, Series NAV (T.
       Rowe Price) 144,680 3,303,048
Strategic Equity Allocation, Series NAV  
       (John Hancock) (A)(2) 2,245,115 38,166,951
Strategic Growth, Series NAV
       (John Hancock) (A)(1) 1,764,368 28,776,839
U.S. Equity, Series NAV (GMO) 1,459,815 27,532,110
 
SHORT-TERM INVESTMENTS - 1.6%
Commercial paper - 0.6%  
BNP Paribas Finance, Inc.
       0.120%,10/01/2014* $ 405,000 405,000
Caisse Centrale Desjardins
       0.140%, 10/06/2014* 420,000 419,992

The accompanying notes are an integral part of the financial statements. 151


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Lifestyle Aggressive MVP (continued)

Shares or
Principal
Amount       Value
SHORT-TERM INVESTMENTS (continued)  
Commercial paper (continued)
Govco LLC
       0.110%, 10/16/2014* $ 435,000 $ 434,980
MetLife Short Term Funding LLC  
       0.090%, 10/10/2014* 420,000 419,991
National Rural Utilities Cooperative
       Finance Corp.
       0.080%, 10/07/2014* 425,000   424,994
Parker-Hannifin Corp.  
       0.100%, 10/22/2014* 420,000 419,976
The Bank of Tokyo-Mitsubishi UFJ, Ltd.
       0.170%, 10/27/2014* 440,000 439,946
U.S. Treasury Notes - 1.0%
U.S. Treasury Notes
       0.250%, 03/31/2015 890,000 890,904
       2.125%, 11/30/2014 885,000 888,007
       2.375%, 02/28/2015 835,000 842,991
       2.625%, 12/31/2014 885,000 890,635
       4.000%, 02/15/2015 875,000 887,783
Total Investments (Lifestyle Aggressive MVP)  
       (Cost $391,957,350) - 99.7% $ 459,407,420
Other assets and liabilities, net - 0.3% 1,555,166
TOTAL NET ASSETS - 100.0% $ 460,962,586

Lifestyle Aggressive PS Series

Shares or       
Principal
Amount Value
AFFILIATED INVESTMENT COMPANIES (G) - 84.8%  
Equity - 84.8%
Strategic Equity Allocation, Series NAV
       (John Hancock) (A)(2) 1,082,633 $ 18,404,769
  
UNAFFILIATED INVESTMENT COMPANIES - 15.2%  
Exchange-traded funds - 15.2%
Financial Select Sector SPDR Fund 12,170 $ 281,979
Vanguard Energy ETF 1,985 260,273
Vanguard FTSE Emerging Markets ETF 39,642 1,653,468
Vanguard Health Care ETF 2,666   311,895
Vanguard Information Technology ETF 5,337 534,127
Vanguard Materials ETF 805 88,655
Vanguard REIT ETF 2,402 172,584
Total Investments (Lifestyle Aggressive PS Series)
       (Cost $21,425,645) - 100.0% $ 21,707,750
Other assets and liabilities, net - 0.0% (27 )
TOTAL NET ASSETS - 100.0% $ 21,707,723

Lifestyle Balanced MVP

Shares or
Principal
Amount       Value
AFFILIATED INVESTMENT COMPANIES (G) - 98.8%  
Equity - 50.2%
All Cap Core, Series NAV (QS Investors)   3,697,601 $ 96,877,150
Alpha Opportunities, Series NAV (Wellington) 18,132,961 237,541,786
Blue Chip Growth, Series NAV (T.
       Rowe Price) 5,805,210 199,757,271
Capital Appreciation, Series NAV (Jennison) 12,025,869   180,388,029
Emerging Markets Value, Series NAV (DFA) 31,535,217 304,630,192
Equity-Income, Series NAV (T. Rowe Price) 15,507,907 291,858,818
Fundamental Large Cap Value, Series NAV
       (John Hancock) (A)(1) 15,380,891 263,936,091
International Core, Series NAV (GMO) 18,707,348 215,134,503
International Growth Opportunities,  
       Series NAV (Baillie Gifford) 6,379,616 85,614,442
International Growth Stock,
       Series NAV (Invesco) 9,222,997 155,591,968
International Value, Series NAV (Templeton) 16,296,517 232,877,233
Mid Cap Stock, Series NAV (Wellington) 7,502,296 133,315,794
Mid Value, Series NAV (T. Rowe Price) 9,859,766 132,811,043
Small Cap Growth,
       Series NAV (Wellington) (I) 5,083,437 56,121,139
Small Cap Value, Series NAV (Wellington) 2,503,334 55,448,856
Small Company Growth, Series NAV (Invesco) 1,778,042 46,389,124
Small Company Value, Series NAV (T.
       Rowe Price) 2,832,979 64,676,921
Strategic Equity Allocation, Series NAV
       (John Hancock) (A)(2) 121,963,495 2,073,379,418
Strategic Growth, Series NAV
       (John Hancock) (A)(1) 11,037,043 180,014,165
U.S. Equity, Series NAV (GMO) 10,205,420 192,474,218
Fixed income - 48.2%
Bond Trust, Series NAV
       (John Hancock) (A)(1) 212,743,316 2,925,220,589
Core Bond, Series NAV (Wells Capital) 28,078,889 370,360,547
Global Bond, Series NAV (PIMCO) 16,547,413 209,159,294
New Income, Series NAV (T. Rowe Price) 51,954,417 686,317,849
Short Term Government Income, Series NAV
       (John Hancock) (A)(1) 5,761,287 72,188,920
Total Return, Series NAV (PIMCO) 52,882,306 726,074,066
Alternative - 0.4%
Global Conservative Absolute Return,
       Series NAV (Standard Life) (I) 3,549,482 36,098,236
  
SHORT-TERM INVESTMENTS - 0.9%
Commercial paper - 0.4%
BNP Paribas Finance, Inc.
       0.120%,10/01/2014* $ 5,380,000 5,380,000
Caisse Centrale Desjardins
       0.140%, 10/06/2014* 5,385,000 5,384,895
Govco LLC
       0.110%, 10/16/2014* 5,385,000 5,384,753
MetLife Short Term Funding LLC
       0.090%, 10/10/2014* 5,385,000 5,384,879
National Rural Utilities Cooperative
       Finance Corp.
       0.080%, 10/07/2014* 5,385,000 5,384,928
Parker-Hannifin Corp.
       0.100%, 10/22/2014* 5,370,000 5,369,687
The Bank of Tokyo-Mitsubishi UFJ, Ltd.
       0.170%, 10/27/2014* 5,085,000 5,084,376
U.S. Treasury Notes - 0.5%
U.S. Treasury Notes
       0.250%, 03/31/2015 10,940,000 10,951,115
       2.125%, 11/30/2014 11,790,000 11,830,062
       2.375%, 02/28/2015 5,550,000 5,603,114
       2.625%, 12/31/2014 11,745,000 11,819,780

The accompanying notes are an integral part of the financial statements. 152


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Lifestyle Balanced MVP (continued)

Shares or
Principal
Amount       Value
SHORT-TERM INVESTMENTS (continued)  
U.S. Treasury Notes (continued)
U.S. Treasury Notes (continued)
       4.000%, 02/15/2015 $ 11,265,000 $ 11,429,570
Total Investments (Lifestyle Balanced MVP)    
       (Cost $9,113,683,660) - 99.7% $ 10,313,264,821
Other assets and liabilities, net - 0.3% 35,631,780
TOTAL NET ASSETS - 100.0% $ 10,348,896,601

Lifestyle Balanced PS Series

Shares or
Principal
Amount       Value
AFFILIATED INVESTMENT COMPANIES (G) - 100.0%  
Equity
Strategic Equity Allocation, Series NAV
       (John Hancock) (A)(2) 28,838,040 $ 490,246,680
Fixed income    
Bond PS, Series NAV (John Hancock) (A)(1) 4,406,579 56,932,999
Bond Trust, Series NAV (John Hancock) (A)(1) 32,047,873 440,658,260
Total Investments (Lifestyle Balanced PS Series)
       (Cost $969,329,859) - 100.0% $ 987,837,939
Other assets and liabilities, net - 0.0% (26,363 )
TOTAL NET ASSETS - 100.0% $ 987,811,576

Lifestyle Conservative MVP

Shares or
Principal
Amount       Value
AFFILIATED INVESTMENT COMPANIES (G) - 98.7%    
Equity - 19.9%
Blue Chip Growth, Series NAV (T.
       Rowe Price) 562,224 $ 19,346,137
Capital Appreciation, Series NAV (Jennison) 708,073 10,621,099
Equity-Income, Series NAV (T. Rowe Price) 1,591,766 29,957,040
Fundamental All Cap Core, Series NAV
       (John Hancock) (A)(1) 2,571,550 37,904,645
International Core, Series NAV (GMO) 3,068,111 35,283,271
International Growth Opportunities,
       Series NAV (Baillie Gifford) 472,772   6,344,603
International Growth Stock,
       Series NAV (Invesco) 602,637 10,166,490
International Value, Series NAV (Templeton) 2,640,306 37,729,969
Mid Cap Stock, Series NAV (Wellington) 542,912 9,647,547
Mid Value, Series NAV (T. Rowe Price) 722,698   9,734,749
Small Cap Growth,
       Series NAV (Wellington) (I) 698,200 7,708,127
Small Cap Value, Series NAV (Wellington) 572,073 12,671,414
Strategic Equity Allocation, Series NAV
       (John Hancock) (A)(2) 8,922,657 151,685,167
Fixed income - 78.2%
Bond Trust, Series NAV
       (John Hancock) (A)(1) 63,880,427 878,355,873
Core Bond, Series NAV (Wells Capital) 8,295,267 109,414,572
Global Bond, Series NAV (PIMCO)   4,986,863 63,033,954
New Income, Series NAV (T. Rowe Price) 15,415,040 203,632,676
Short Term Government Income, Series NAV  
       (John Hancock) (A)(1) 1,667,609 20,895,144
Total Return, Series NAV (PIMCO) 15,608,858 214,309,613
Alternative - 0.6%
Global Conservative Absolute Return,
       Series NAV (Standard Life) (I) 1,160,768 11,805,012
  
SHORT-TERM INVESTMENTS - 0.9%
Commercial paper - 0.4%
BNP Paribas Finance, Inc. 0.120%,
       10/01/2014 * $ 1,065,000 1,065,000
Caisse Centrale Desjardins 0.140%,
       10/06/2014 * 1,090,000 1,089,979
Govco LLC 0.110%, 10/16/2014 * 1,105,000 1,104,949
MetLife Short Term Funding LLC 0.090%,
       10/10/2014 * 1,090,000 1,089,975
National Rural Utilities Cooperative
       Finance Corp. 0.080%, 10/07/2014 * 1,080,000 1,079,987
Parker-Hannifin Corp. 0.100%, 10/22/2014 *   1,085,000 1,084,937
The Bank of Tokyo-Mitsubishi UFJ, Ltd.
       0.170%, 10/27/2014 * 1,075,000 1,074,868
U.S. Treasury Notes - 0.5%
U.S. Treasury Notes
       0.250%, 10/31/2014 2,000,000 2,000,312
       2.125%, 11/30/2014 2,335,000 2,342,934
       2.375%, 02/28/2015 1,360,000 1,373,015
       2.625%, 12/31/2014 2,325,000 2,339,803
       4.000%, 02/15/2015 2,270,000 2,303,162
Total Investments (Lifestyle Conservative MVP)  
       (Cost $1,854,503,056) - 99.7% $ 1,898,196,023
Other assets and liabilities, net - 0.3% 5,906,518
TOTAL NET ASSETS - 100.0% $ 1,904,102,541

Lifestyle Conservative PS Series

Shares or
Principal
Amount       Value
AFFILIATED INVESTMENT COMPANIES (G) - 100.0%  
Equity
Strategic Equity Allocation, Series NAV
       (John Hancock) (A)(2) 2,285,404   $ 38,851,875
Fixed income  
Bond PS, Series NAV (John Hancock) (A)(1) 1,562,453 20,186,899
Bond Trust, Series NAV (John Hancock) (A)(1) 9,858,081 135,548,610
Total Investments (Lifestyle Conservative PS Series)    
       (Cost $192,594,195) - 100.0% $ 194,587,384
Other assets and liabilities, net - 0.0% (24,322 )
TOTAL NET ASSETS - 100.0% $ 194,563,062

The accompanying notes are an integral part of the financial statements. 153


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Lifestyle Growth MVP

Shares or
Principal
Amount       Value
AFFILIATED INVESTMENT COMPANIES (G) - 98.5%    
Equity - 70.9%
All Cap Core, Series NAV (QS Investors) 5,360,213 $ 140,437,580
Alpha Opportunities, Series NAV (Wellington) 35,396,288 463,691,371
Blue Chip Growth, Series NAV (T.
       Rowe Price) 11,719,023 403,251,579
Capital Appreciation, Series NAV (Jennison) 24,037,785 360,566,777
Emerging Markets Value, Series NAV (DFA) 49,141,078 474,702,813
Equity-Income, Series NAV (T. Rowe Price) 30,583,992 575,590,721
Fundamental Large Cap Value, Series NAV
       (John Hancock) (A)(1) 31,620,896 542,614,576
International Core, Series NAV (GMO) 28,076,957 322,885,010
International Growth Opportunities,
       Series NAV (Baillie Gifford) 10,035,182 134,672,143
International Growth Stock,
       Series NAV (Invesco) 13,801,056 232,823,814
International Value, Series NAV (Templeton) 25,572,075 365,424,953
Mid Cap Stock, Series NAV (Wellington) 10,082,434 179,164,854
Mid Value, Series NAV (T. Rowe Price) 13,332,128 179,583,770
Small Cap Growth,
       Series NAV (Wellington) (I) 8,431,542 93,084,225
Small Cap Opportunities,
       Series NAV (DFA/Invesco) 2,577,237 76,415,069
Small Cap Value, Series NAV (Wellington) 3,335,147 73,873,510
Small Company Growth, Series NAV (Invesco) 2,937,273 76,633,441
Small Company Value, Series NAV (T.
       Rowe Price) 4,727,107 107,919,863
Strategic Equity Allocation, Series NAV
       (John Hancock) (A)(2) 222,007,644 3,774,129,942
Strategic Growth, Class NAV
       (John Hancock) (A)(1) 22,099,491 360,442,697
U.S. Equity, Series NAV (GMO) 23,004,318 433,861,434
Fixed income - 27.3%
Bond Trust, Series NAV
       (John Hancock) (A)(1) 148,783,516 2,045,773,343
Core Bond, Series NAV (Wells Capital) 21,541,712 284,135,187
Global Bond, Series NAV (PIMCO) 12,663,794 160,070,350
New Income, Series NAV (T. Rowe Price) 39,843,044 526,326,607
Short Term Government Income, Series NAV
       (John Hancock) (A)(1) 3,779,399 47,355,864
Total Return, Series NAV (PIMCO) 40,304,960 553,387,101
Alternative - 0.3%
Global Conservative Absolute Return,
       Series NAV (Standard Life) (I) 3,804,777 38,694,578
  
SHORT-TERM INVESTMENTS - 0.9%
Commercial paper - 0.4%
BNP Paribas Finance, Inc. 0.120%,
       10/01/2014 * $ 8,465,000 8,465,000
Caisse Centrale Desjardins 0.140%,  
       10/06/2014 * 8,410,000 8,409,836
Govco LLC 0.110%, 10/16/2014 * 8,370,000 8,369,616
MetLife Short Term Funding LLC 0.090%,  
       10/10/2014 * 8,410,000 8,409,811
National Rural Utilities Cooperative
       Finance Corp. 0.080%, 10/07/2014 * 8,415,000 8,414,889
Parker-Hannifin Corp. 0.100%, 10/22/2014 * 8,430,000 8,429,508
The Bank of Tokyo-Mitsubishi UFJ, Ltd.
       0.170%, 10/27/2014 * 7,775,000 7,774,045
U.S. Treasury Notes - 0.5%
U.S. Treasury Notes
       0.250%, 03/31/2015 17,000,000 17,017,272
       2.125%, 11/30/2014 18,550,000 18,613,033
       2.375%, 02/28/2015 4,320,000 4,361,342
       2.625%, 12/31/2014 7,390,000 7,437,052
       4.000%, 02/15/2015 17,620,000 17,877,411
Total Investments (Lifestyle Growth MVP)
       (Cost $11,030,142,809) - 99.4% $ 13,151,091,987
Other assets and liabilities, net - 0.6% 76,515,872
TOTAL NET ASSETS - 100.0% $ 13,227,607,859

Lifestyle Growth PS Series

Shares or
Principal
Amount       Value
AFFILIATED INVESTMENT COMPANIES (G) - 100.0%  
Equity
Strategic Equity Allocation, Series NAV
       (John Hancock) (A)(2) 74,612,991 $ 1,268,420,842
Fixed income
Bond PS, Series NAV (John Hancock) (A)(1) 5,597,834   72,324,021
Bond Trust, Series NAV (John Hancock) (A)(1) 34,808,179   478,612,467
Total Investments (Lifestyle Growth PS Series)  
       (Cost $1,788,444,081) - 100.0% $ 1,819,357,330
Other assets and liabilities, net - 0.0% (30,527 )
TOTAL NET ASSETS - 100.0% $ 1,819,326,803

Lifestyle Moderate MVP

Shares or
Principal
Amount       Value
AFFILIATED INVESTMENT COMPANIES (G) - 98.7%  
Equity - 39.5%
Alpha Opportunities, Series NAV (Wellington) 3,977,448 $ 52,104,571
Blue Chip Growth, Series NAV (T.
       Rowe Price) 1,567,416 53,934,776
Capital Appreciation, Series NAV (Jennison) 1,762,359 26,435,388
Equity-Income, Series NAV (T. Rowe Price) 5,650,876 106,349,478
Fundamental All Cap Core, Series NAV
       (John Hancock) (A)(1) 6,044,858 89,101,214
International Core, Series NAV (GMO) 6,030,203 69,347,338
International Growth Opportunities,  
       Series NAV (Baillie Gifford) 1,862,958 25,000,892
International Growth Stock,
       Series NAV (Invesco) 2,712,797 45,764,888
International Value, Series NAV (Templeton) 5,622,030 80,338,807
Mid Cap Stock, Series NAV (Wellington) 1,462,010 25,979,922
Mid Value, Series NAV (T. Rowe Price) 1,942,491 26,165,353
Small Cap Growth,
       Series NAV (Wellington) (I) 1,227,995 13,557,063
Small Cap Value, Series NAV (Wellington) 656,823 14,548,629
Small Company Growth, Series NAV (Invesco) 409,835 10,692,584
Small Company Value, Series NAV (T.    
       Rowe Price) 700,033 15,981,749
Strategic Equity Allocation, Series NAV
       (John Hancock) (A)(2) 28,032,518 476,552,805
Strategic Growth, Class NAV (John Hancock) 1,616,138 26,359,208
U.S. Equity, Series NAV (GMO) 1,429,042 26,951,738

The accompanying notes are an integral part of the financial statements. 154


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Lifestyle Moderate MVP (continued)

Shares or
Principal
Amount       Value
AFFILIATED INVESTMENT COMPANIES (G) (continued)    
Fixed income - 58.7%
Bond Trust, Series NAV
       (John Hancock) (A)(1) 75,616,888 $ 1,039,732,207
Core Bond, Series NAV (Wells Capital) 9,916,102 130,793,381
Global Bond, Series NAV (PIMCO) 5,702,845   72,083,965
New Income, Series NAV (T. Rowe Price) 18,299,943 241,742,248
Short Term Government Income, Series NAV  
       (John Hancock) (A)(1) 1,871,716 23,452,606
Total Return, Series NAV (PIMCO) 18,460,929 253,468,551
Alternative - 0.5%
Global Conservative Absolute Return,
       Series NAV (Standard Life) (I) 1,382,294 14,057,933
  
SHORT-TERM INVESTMENTS - 0.9%
Commercial paper - 0.4%  
BNP Paribas Finance, Inc. 0.120%,
       10/01/2014 * $ 1,685,000 1,685,000
Caisse Centrale Desjardins 0.140%,
       10/06/2014 * 1,695,000 1,694,967
Govco LLC 0.110%, 10/16/2014 * 1,705,000 1,704,922
MetLife Short Term Funding LLC 0.090%,  
       10/10/2014 * 1,695,000 1,694,962
National Rural Utilities Cooperative
       Finance Corp. 0.080%, 10/07/2014 * 1,695,000 1,694,979
Parker-Hannifin Corp. 0.100%, 10/22/2014 *   1,695,000 1,694,901
The Bank of Tokyo-Mitsubishi UFJ, Ltd.
       0.170%, 10/27/2014 * 1,625,000 1,624,800
U.S. Treasury Notes - 0.5%
U.S. Treasury Notes
       0.250%, 10/31/2014 to 03/31/2015 5,960,000 5,963,905
       2.125%, 11/30/2014 3,695,000   3,707,556
       2.375%, 02/28/2015 1,400,000 1,413,398
       2.625%, 12/31/2014 735,000 739,680
       4.000%, 02/15/2015 3,545,000 3,596,789
Total Investments (Lifestyle Moderate MVP)  
       (Cost $2,735,714,376) - 99.6% $ 2,987,713,153
Other assets and liabilities, net - 0.4% 11,929,677
TOTAL NET ASSETS - 100.0% $ 2,999,642,830

Lifestyle Moderate PS Series

Shares or
Principal
Amount       Value
AFFILIATED INVESTMENT COMPANIES (G) - 100.0%  
Equity
Strategic Equity Allocation, Series NAV
       (John Hancock) (A)(2) 7,654,612 $ 130,128,400
Fixed income
Bond PS, Series NAV (John Hancock) (A)(1) 2,124,122 27,443,661
Bond Trust, Series NAV (John Hancock) (A)(1) 12,502,618     171,910,999
Total Investments (Lifestyle Moderate PS Series)
       (Cost $323,840,362) - 100.0% $ 329,483,060
Other assets and liabilities, net - 0.0% (25,500 )
TOTAL NET ASSETS - 100.0% $ 329,457,560

Mid Cap Index Trust

Shares or
Principal
Amount       Value
COMMON STOCKS - 98.2%
Consumer discretionary - 13.4%
Auto components - 0.2%  
Gentex Corp. 76,785 $ 2,055,533
Automobiles - 0.2%
Thor Industries, Inc. 24,355 1,254,283
Distributors - 0.5%
LKQ Corp. (I) 158,533 4,215,392
Diversified consumer services - 0.9%
Apollo Education Group, Inc. (I) 51,282 1,289,742
DeVry Education Group, Inc. 30,114 1,289,180
Graham Holdings Company, Class B 2,313 1,618,152
Service Corp. International 110,757 2,341,403
Sotheby’s 32,246 1,151,827
7,690,304
Hotels, restaurants and leisure - 1.7%  
Bally Technologies, Inc. (I) 20,125   1,624,088
Brinker International, Inc. 33,904 1,721,984
Domino’s Pizza, Inc. 28,955 2,228,377
International Game Technology 129,827 2,190,181
International Speedway Corp., Class A 14,747 466,595
Life Time Fitness, Inc. (I) 18,890 952,812
Panera Bread Company, Class A (I) 13,506 2,197,696
The Cheesecake Factory, Inc. 24,204 1,101,282
The Wendy’s Company 144,511 1,193,661
13,676,676
Household durables - 1.7%
Jarden Corp. (I) 62,572 3,761,203
KB Home (L) 47,783 713,878
MDC Holdings, Inc. (L) 20,604 521,693
NVR, Inc. (I) 2,093 2,365,132
Tempur Sealy International, Inc. (I) 31,989 1,796,822
Toll Brothers, Inc. (I) 85,031 2,649,566
Tupperware Brands Corp. 26,464 1,827,075
13,635,369
Internet and catalog retail - 0.1%
HSN, Inc. 17,033 1,045,315
Leisure products - 0.8%
Brunswick Corp. 48,785 2,055,800
Polaris Industries, Inc. 31,872 4,774,107
6,829,907
Media - 1.6%
AMC Networks, Inc., Class A (I) 31,063 1,814,700
Cinemark Holdings, Inc. 54,683 1,861,409
DreamWorks Animation
       SKG, Inc., Class A (I) 37,853 1,032,251
John Wiley & Sons, Inc., Class A 24,662 1,383,785
Lamar Advertising Company, Class A 42,034 2,070,175
Live Nation Entertainment, Inc. (I) 75,821 1,821,220
Meredith Corp. 19,087 816,924
The New York Times Company, Class A 68,704 770,859
Time, Inc. (I) 57,233 1,340,969
12,912,292
Multiline retail - 0.3%
Big Lots, Inc. 29,437 1,267,263
J.C. Penney Company, Inc. (I)(L) 160,101 1,607,414
2,874,677
Specialty retail - 4.0%
Aaron’s, Inc. 33,798 821,967
Abercrombie & Fitch Company, Class A 37,479 1,361,987

The accompanying notes are an integral part of the financial statements. 155


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Mid Cap Index Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Specialty retail (continued)
Advance Auto Parts, Inc. 38,328 $ 4,994,138
American Eagle Outfitters, Inc. (L) 91,895 1,334,315
ANN, Inc. (I) 24,025 988,148
Ascena Retail Group, Inc. (I) 68,753 914,415
Cabela’s, Inc. (I)(L) 25,003 1,472,677
Chico’s FAS, Inc. 80,397 1,187,464
CST Brands, Inc. 39,760 1,429,372
Dick’s Sporting Goods, Inc. 52,213 2,291,106
Foot Locker, Inc. 75,481 4,200,518
Guess?, Inc. 33,564 737,401
Murphy USA, Inc. (I) 22,575 1,197,830
Office Depot, Inc. (I) 254,143 1,306,295
Rent-A-Center, Inc. 27,762 842,577
Signet Jewelers, Ltd. 42,129   4,798,914
Williams-Sonoma, Inc. 45,970 3,060,223
32,939,347
Textiles, apparel and luxury goods - 1.4%
Carter’s, Inc. 27,874 2,160,792
Deckers Outdoor Corp. (I) 18,192 1,767,899
Hanesbrands, Inc. 52,332 5,622,550
Kate Spade & Company (I) 66,650 1,748,230
  11,299,471
110,428,566
Consumer staples - 3.1%
Food and staples retailing - 0.3%
SUPERVALU, Inc. (I) 108,199 967,299
United Natural Foods, Inc. (I) 26,074 1,602,508
2,569,807
Food products - 1.6%
Dean Foods Company (L) 49,033 649,687
Flowers Foods, Inc. 96,839 1,777,964
Ingredion, Inc. 39,172 2,968,846
Lancaster Colony Corp. 10,242 873,438
Post Holdings, Inc. (I) 23,541 781,090
The Hain Celestial Group, Inc. (I) 26,447 2,706,850
The WhiteWave Foods Company, Class A (I) 91,448 3,322,306
Tootsie Roll Industries, Inc. (L) 10,504 294,007
13,374,188
Household products - 1.1%
Church & Dwight Company, Inc. 70,196 4,924,951
Energizer Holdings, Inc. 32,438 3,996,686
8,921,637
Tobacco - 0.1%
Universal Corp. (L) 12,243 543,467
25,409,099
Energy - 5.2%
Energy equipment and services - 2.8%
Atwood Oceanics, Inc. (I) 31,424 1,372,915
CARBO Ceramics, Inc. (L) 10,288 609,358
Dresser-Rand Group, Inc. (I) 40,240 3,310,142
Dril-Quip, Inc. (I) 20,996 1,877,042
Helix Energy Solutions Group, Inc. (I) 51,463 1,135,274
Oceaneering International, Inc. 56,726 3,696,833
Oil States International, Inc. (I) 28,406 1,758,331
Patterson-UTI Energy, Inc. 76,757 2,496,905
Rowan Companies PLC, Class A 65,459 1,656,767
Superior Energy Services, Inc. 81,244 2,670,490
Tidewater, Inc. 26,112 1,019,151
Unit Corp. (I) 24,216 1,420,268
23,023,476
Oil, gas and consumable fuels - 2.4%
Energen Corp. 38,439 2,776,833
Gulfport Energy Corp. (I) 44,903 2,397,820
HollyFrontier Corp. 104,285 4,555,169
Peabody Energy Corp. (L) 142,572 1,765,041
Rosetta Resources, Inc. (I) 32,288 1,438,753
SM Energy Company 35,384 2,759,952
World Fuel Services Corp. 37,960 1,515,363
WPX Energy, Inc. (I) 106,573 2,564,146
19,773,077
42,796,553
Financials - 21.8%
Banks - 4.7%
Associated Banc-Corp. 81,323 1,416,647
BancorpSouth, Inc. 44,888 904,044
Bank of Hawaii Corp. 23,260 1,321,401
Cathay General Bancorp 38,930 966,632
City National Corp. 25,136 1,902,041
Commerce Bancshares, Inc. 41,382 1,847,499
East West Bancorp, Inc. 75,304 2,560,336
First Horizon National Corp. 124,540 1,529,351
First Niagara Financial Group, Inc. 185,844 1,548,081
FirstMerit Corp. 86,812 1,527,891
Frost Bankers, Inc. 28,774 2,201,499
Fulton Financial Corp. 98,592 1,092,399
Hancock Holding Company 42,913 1,375,362
International Bancshares Corp. 30,552 753,565
PacWest Bancorp 50,848 2,096,463
Prosperity Bancshares, Inc. 31,499 1,800,798
Signature Bank (I) 26,427 2,961,410
SVB Financial Group (I) 26,644 2,986,526
Synovus Financial Corp. 73,013 1,726,027
TCF Financial Corp. 87,628 1,360,863
Trustmark Corp. 35,567 819,286
Umpqua Holdings Corp. 98,117 1,615,987
Valley National Bancorp (L) 100,083 969,804
Webster Financial Corp. 47,456 1,382,868
38,666,780
Capital markets - 1.6%
Eaton Vance Corp. (L) 62,352 2,352,541
Federated Investors, Inc., Class B (L) 50,127 1,471,729
Janus Capital Group, Inc. (L) 77,993 1,134,018
Raymond James Financial, Inc. 66,030 3,537,887
SEI Investments Company 68,718 2,484,843
Waddell & Reed Financial, Inc., Class A 44,403 2,295,191
13,276,209
Consumer finance - 0.2%
SLM Corp. 222,264 1,902,580
Diversified financial services - 0.6%
CBOE Holdings, Inc. 44,748 2,395,137
MSCI, Inc. (I) 61,204 2,877,812
5,272,949
Insurance - 4.8%
Alleghany Corp. (I) 8,605 3,598,181
American Financial Group, Inc. 39,367 2,278,956
Arthur J. Gallagher & Company 83,507 3,787,878
Aspen Insurance Holdings, Ltd. 34,373 1,470,133

The accompanying notes are an integral part of the financial statements. 156


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Mid Cap Index Trust (continued)

Shares or  
Principal
Amount Value
COMMON STOCKS (continued)
Insurance (continued)
Brown & Brown, Inc. 62,206       $ 1,999,923
Everest Re Group, Ltd. 23,878 3,868,475
First American Financial Corp. 56,249 1,525,473
HCC Insurance Holdings, Inc. 52,520 2,536,191
Kemper Corp. 26,280 897,462
Mercury General Corp. 19,055 930,075
Old Republic International Corp. 127,383 1,819,029
Primerica, Inc. 28,503 1,374,415
Protective Life Corp. 41,423 2,875,170
Reinsurance Group of America, Inc. 35,997 2,884,440
RenaissanceRe Holdings, Ltd. 21,287 2,128,487
StanCorp Financial Group, Inc. 22,978 1,451,750
The Hanover Insurance Group, Inc. 23,136 1,421,013
W.R. Berkley Corp. 53,576 2,560,933
39,407,984
Real estate investment trusts - 8.8%
Alexandria Real Estate Equities, Inc. 37,679 2,778,826
American Campus Communities, Inc. 55,112 2,008,832
BioMed Realty Trust, Inc. 102,482 2,070,136
Camden Property Trust 44,942 3,079,875
Corporate Office Properties Trust 46,042 1,184,200
Corrections Corp. of America 61,145 2,100,942
Duke Realty Corp. 179,171 3,078,158
Equity One, Inc. 40,303 871,754
Extra Space Storage, Inc. 57,890 2,985,387
Federal Realty Investment Trust 35,567 4,213,267
Highwoods Properties, Inc. 47,461 1,846,233
Home Properties, Inc. 30,008 1,747,666
Hospitality Properties Trust 78,663 2,112,102
Kilroy Realty Corp. 43,688 2,596,815
LaSalle Hotel Properties 54,656 1,871,421
Liberty Property Trust 77,829 2,588,593
Mack-Cali Realty Corp. 43,919 839,292
Mid-America Apartment Communities, Inc. 39,494 2,592,781
National Retail Properties, Inc. 65,695 2,271,076
Omega Healthcare Investors, Inc. 66,833 2,285,020
Potlatch Corp. 21,311 856,915
Rayonier, Inc. 66,445 2,069,097
Realty Income Corp. 116,923 4,769,289
Regency Centers Corp. 48,502 2,610,863
Senior Housing Properties Trust 107,011 2,238,670
SL Green Realty Corp. 50,210 5,087,277
Taubman Centers, Inc. 33,257 2,427,761
UDR, Inc. 132,197 3,602,368
Washington Prime Group, Inc. (L) 81,604 1,426,438
Weingarten Realty Investors 59,060 1,860,390
72,071,444
Real estate management and development - 0.5%
Alexander & Baldwin, Inc. 23,803 856,194
Jones Lang LaSalle, Inc. 23,535 2,973,412
3,829,606
Thrifts and mortgage finance - 0.6%
Astoria Financial Corp. 46,001 569,952
New York Community Bancorp, Inc. (L) 232,509 3,689,918
Washington Federal, Inc. 52,253 1,063,871
5,323,741
179,751,293
Health care - 9.5%
Biotechnology - 0.7%
Cubist Pharmaceuticals, Inc. (I) 39,775 2,638,674
United Therapeutics Corp. (I) 24,826 3,193,865
5,832,539
Health care equipment and supplies - 2.9%
Align Technology, Inc. (I) 38,186 1,973,452
Hill-Rom Holdings, Inc. 30,145 1,248,907
Hologic, Inc. (I) 126,906 3,087,623
IDEXX Laboratories, Inc. (I) 26,400 3,110,712
ResMed, Inc. (L) 73,613 3,626,913
Sirona Dental Systems, Inc. (I) 29,066 2,228,781
STERIS Corp. 31,161 1,681,448
Teleflex, Inc. 21,740 2,283,570
The Cooper Companies, Inc. 25,359 3,949,664
Thoratec Corp. (I) 29,589 790,914
23,981,984
Health care providers and services - 3.0%
Centene Corp. (I) 30,772 2,545,152
Community Health Systems, Inc. (I) 60,539 3,316,932
Health Net, Inc. (I) 42,183 1,945,058
Henry Schein, Inc. (I) 44,588 5,193,164
LifePoint Hospitals, Inc. (I) 23,712 1,640,633
MEDNAX, Inc. (I) 52,652 2,886,383
Omnicare, Inc. 51,399 3,200,102
Owens & Minor, Inc. (L) 33,015 1,080,911
VCA Antech, Inc. (I) 45,281 1,780,902
WellCare Health Plans, Inc. (I) 23,051 1,390,897
24,980,134
Health care technology - 0.3%
Allscripts Healthcare Solutions, Inc. (I) 88,941 1,193,144
HMS Holdings Corp. (I)(L) 46,070 868,420
2,061,564
Life sciences tools and services - 1.3%
Bio-Rad Laboratories, Inc., Class A (I) 10,760 1,220,184
Charles River
       Laboratories International, Inc. (I) 24,517 1,464,646
Covance, Inc. (I) 29,693 2,336,839
Mettler-Toledo International, Inc. (I) 15,171 3,885,748
Techne Corp. 19,435 1,818,144
10,725,561
Pharmaceuticals - 1.3%
Endo International PLC (I) 80,605 5,508,546
Salix Pharmaceuticals, Ltd. (I) 33,451 5,226,384
10,734,930
78,316,712
Industrials - 15.8%
Aerospace and defense - 1.8%
Alliant Techsystems, Inc. 16,773 2,140,906
B/E Aerospace, Inc. (I) 55,307 4,642,470
Esterline Technologies Corp. (I) 16,776 1,866,666
Exelis, Inc. 98,835 1,634,731
Huntington Ingalls Industries, Inc. 25,509 2,658,293
Triumph Group, Inc. 27,008 1,756,870
Vectrus, Inc. (I) 5,491 107,236
14,807,172
Airlines - 0.6%
Alaska Air Group, Inc. 70,845 3,084,591
JetBlue Airways Corp. (I) 128,766 1,367,495
4,452,086

The accompanying notes are an integral part of the financial statements. 157


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Mid Cap Index Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Building products - 0.9%
AO Smith Corp. 39,718       $ 1,877,867
Fortune Brands Home & Security, Inc. 83,229 3,421,544
Lennox International, Inc. 23,484 1,805,215
7,104,626
Commercial services and supplies - 1.7%
Civeo Corp. 56,037 650,590
Clean Harbors, Inc. (I) 28,981 1,562,656
Copart, Inc. (I) 59,582 1,865,810
Deluxe Corp. 26,084 1,438,793
Herman Miller, Inc. 31,193 931,111
HNI Corp. 23,719 853,647
MSA Safety, Inc. 16,567 818,410
R.R. Donnelley & Sons Company 104,974 1,727,872
Rollins, Inc. 33,608 984,042
Waste Connections, Inc. 65,183 3,162,679
13,995,610
Construction and engineering - 0.7%
AECOM Technology Corp. (I) 52,243 1,763,201
Granite Construction, Inc. 18,779 597,360
KBR, Inc. 76,256 1,435,900
URS Corp. 36,346 2,093,893
5,890,354
Electrical equipment - 0.9%
Acuity Brands, Inc. 22,696 2,671,546
Hubbell, Inc., Class B 28,563 3,442,698
Regal-Beloit Corp. 23,728 1,524,524
7,638,768
Industrial conglomerates - 0.3%
Carlisle Companies, Inc. 33,691 2,708,083
Machinery - 5.2%
AGCO Corp. 44,811 2,037,108
CLARCOR, Inc. 26,496 1,671,368
Crane Company 26,020 1,644,724
Donaldson Company, Inc. 69,817 2,836,665
Graco, Inc. 31,553 2,302,738
Harsco Corp. 42,435 908,533
IDEX Corp. 42,053 3,043,376
ITT Corp. 48,113 2,162,198
Kennametal, Inc. 41,319 1,706,888
Lincoln Electric Holdings, Inc. 41,734 2,885,280
Nordson Corp. 30,817 2,344,249
Oshkosh Corp. 44,661 1,971,783
SPX Corp. 22,353 2,099,617
Terex Corp. 57,914 1,839,928
Timken Company 40,017 1,696,321
Trinity Industries, Inc. 81,961 3,829,218
Valmont Industries, Inc. (L) 13,757 1,856,232
Wabtec Corp. 50,632 4,103,217
Woodward, Inc. 30,610 1,457,648
42,397,091
Marine - 0.4%
Kirby Corp. (I) 29,969 3,531,847
Professional services - 1.0%
FTI Consulting, Inc. (I) 21,455 750,067
ManpowerGroup, Inc. 41,872 2,935,227
The Corporate Executive Board Company 17,716 1,064,200
Towers Watson & Company, Class A 36,878 3,669,361
8,418,855
Road and rail - 1.5%
Con-way, Inc. 30,206 1,434,785
Genesee & Wyoming, Inc., Class A (I) 26,828 2,556,977
J.B. Hunt Transport Services, Inc. 48,354 3,580,614
Landstar System, Inc. 23,470 1,694,299
Old Dominion Freight Line, Inc. (I) 35,750 2,525,380
Werner Enterprises, Inc. 23,387 589,352
12,381,407
Trading companies and distributors - 0.8%
GATX Corp. 23,519 1,372,804
MSC Industrial Direct Company, Inc., Class A 26,879 2,297,079
NOW, Inc. (I) 56,287 1,711,688
Watsco, Inc. 14,320 1,234,098
6,615,669
129,941,568
Information technology - 16.9%
Communications equipment - 1.2%
ADTRAN, Inc. 28,718 589,581
ARRIS Group, Inc. (I) 69,180 1,961,599
Ciena Corp. (I)(L) 55,965 935,735
InterDigital, Inc. 21,309 848,524
JDS Uniphase Corp. (I) 120,802 1,546,266
Plantronics, Inc. 22,422 1,071,323
Polycom, Inc. (I) 72,037 884,975
Riverbed Technology, Inc. (I) 83,892 1,555,777
9,393,780
Electronic equipment, instruments and components - 3.0%
Arrow Electronics, Inc. (I) 51,910 2,873,219
Avnet, Inc. 72,614 3,013,481
Belden, Inc. 22,712 1,454,022
Cognex Corp. (I) 45,553 1,834,419
FEI Company 22,035 1,661,880
Ingram Micro, Inc., Class A (I) 81,724 2,109,296
Itron, Inc. (I) 20,605 809,983
Knowles Corp. (I) 44,656 1,183,384
National Instruments Corp. 52,800 1,633,104
Tech Data Corp. (I) 20,088 1,182,380
Trimble Navigation, Ltd. (I) 136,640 4,167,520
Vishay Intertechnology, Inc. 71,294 1,018,791
Zebra Technologies Corp., Class A (I) 26,665 1,892,415
24,833,894
Internet software and services - 1.3%
AOL, Inc. (I) 41,244 1,853,918
Conversant, Inc. (I) 31,645 1,083,841
Equinix, Inc. (I) 27,938 5,936,266
Rackspace Hosting, Inc. (I) 62,350 2,029,493
10,903,518
IT services - 2.7%
Acxiom Corp. (I) 40,512 670,474
Broadridge Financial Solutions, Inc. 62,782 2,613,615
Convergys Corp. 53,093 946,117
CoreLogic, Inc. (I) 47,919 1,297,167
DST Systems, Inc. 16,070 1,348,594
Gartner, Inc. (I) 46,692 3,430,461
Global Payments, Inc. 35,813 2,502,612
Jack Henry & Associates, Inc. 43,318 2,411,080
Leidos Holdings, Inc. 32,660 1,121,218
NeuStar, Inc., Class A (I)(L) 29,456 731,392
Science Applications International Corp. 21,239 939,401
VeriFone Systems, Inc. (I) 59,382 2,041,553

The accompanying notes are an integral part of the financial statements. 158


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Mid Cap Index Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
IT services (continued)
WEX, Inc. (I) 20,363       $ 2,246,446
22,300,130
Semiconductors and semiconductor equipment - 3.0%
Advanced Micro Devices, Inc. (I)(L) 326,697 1,114,037
Atmel Corp. (I) 219,811 1,776,073
Cree, Inc. (I)(L) 63,043 2,581,611
Cypress Semiconductor Corp. (I)(L) 76,949 759,871
Fairchild Semiconductor International, Inc. (I) 63,091 979,803
Integrated Device Technology, Inc. (I) 78,151 1,246,508
International Rectifier Corp. (I) 37,570 1,474,247
Intersil Corp., Class A 68,018 966,536
RF Micro Devices, Inc. (I)(L) 151,074 1,743,394
Semtech Corp. (I) 35,349 959,725
Silicon Laboratories, Inc. (I) 21,206 861,812
Skyworks Solutions, Inc. 99,544 5,778,529
SunEdison, Inc. (I) 131,342 2,479,737
Teradyne, Inc. 107,501 2,084,444
24,806,327
Software - 4.7%
ACI Worldwide, Inc. (I) 60,057 1,126,669
Advent Software, Inc. 23,286 734,906
ANSYS, Inc. (I) 48,366 3,659,855
Cadence Design Systems, Inc. (I) 152,331 2,621,617
CDK Global, Inc. (I) 86,058 2,632,514
CommVault Systems, Inc. (I) 22,370 1,127,448
Compuware Corp. 115,602 1,226,537
Concur Technologies, Inc. (I) 25,163 3,191,172
FactSet Research Systems, Inc. (L) 20,551 2,497,563
Fair Isaac Corp. 16,885 930,364
Fortinet, Inc. (I) 72,251 1,825,422
Informatica Corp. (I) 57,770 1,978,045
Mentor Graphics Corp. 50,573 1,036,494
PTC, Inc. (I) 61,611 2,273,446
Rovi Corp. (I) 49,900 985,276
SolarWinds, Inc. (I) 34,450 1,448,623
Solera Holdings, Inc. 35,971 2,027,326
Synopsys, Inc. (I) 81,837 3,248,520
The Ultimate Software Group, Inc. (I) 14,843 2,100,433
TIBCO Software, Inc. (I) 80,050 1,891,582
38,563,812
Technology hardware, storage and peripherals - 1.0%
3D Systems Corp. (I)(L) 54,267 2,516,361
Diebold, Inc. 33,936 1,198,620
Lexmark International, Inc., Class A 32,705 1,389,963
NCR Corp. (I) 88,225 2,947,597
8,052,541
138,854,002
Materials - 7.4%
Chemicals - 3.1%
Albemarle Corp. (L) 41,085 2,419,907
Ashland, Inc. 37,653 3,919,677
Cabot Corp. 33,910 1,721,611
Cytec Industries, Inc. 37,708 1,783,211
Minerals Technologies, Inc. 18,155 1,120,345
NewMarket Corp. 5,644 2,150,477
Olin Corp. 41,325 1,043,456
PolyOne Corp. 48,487 1,725,167
Rayonier Advanced Materials, Inc. (L) 22,373 736,295
RPM International, Inc. 70,109 3,209,590
Sensient Technologies Corp. 25,323 1,325,659
The Scotts Miracle-Gro Company, Class A 23,461 1,290,355
Valspar Corp. 40,031 3,162,049
25,607,799
Construction materials - 0.3%
Eagle Materials, Inc. 26,365 2,684,748
Containers and packaging - 1.6%
AptarGroup, Inc. 34,201 2,076,001
Greif, Inc., Class A 17,792 779,468
Packaging Corp. of America 51,665 3,297,260
Rock-Tenn Company, Class A 75,181 3,577,112
Silgan Holdings, Inc. 23,065 1,084,055
Sonoco Products Company 53,521 2,102,840
12,916,736
Metals and mining - 2.1%
Carpenter Technology Corp. 27,940 1,261,491
Cliffs Natural Resources, Inc. (L) 80,447 835,040
Commercial Metals Company 61,882 1,056,326
Compass Minerals International, Inc. 17,624 1,485,351
Reliance Steel & Aluminum Company 40,945 2,800,638
Royal Gold, Inc. 34,207 2,221,403
Steel Dynamics, Inc. 126,070 2,850,443
Timkensteel Corp. 20,008 930,172
United States Steel Corp. (L) 76,222 2,985,616
Worthington Industries, Inc. 26,690 993,402
17,419,882
Paper and forest products - 0.3%
Domtar Corp. 34,144 1,199,479
Louisiana-Pacific Corp. (I) 74,338 1,010,253
2,209,732
60,838,897
Telecommunication services - 0.5%
Diversified telecommunication services - 0.4%
tw telecom, Inc. (I) 72,513 3,017,266
Wireless telecommunication services - 0.1%
Telephone & Data Systems, Inc. 51,974 1,245,297
4,262,563
Utilities - 4.6%
Electric utilities - 1.6%
Cleco Corp. 31,718 1,527,222
Great Plains Energy, Inc. 80,938 1,956,271
Hawaiian Electric Industries, Inc. (L) 53,877 1,430,434
IDACORP, Inc. 26,409 1,415,786
OGE Energy Corp. 104,635 3,883,005
PNM Resources, Inc. 41,676 1,038,149
Westar Energy, Inc. 68,137 2,324,834
13,575,701
Gas utilities - 1.6%
Atmos Energy Corp. 52,701 2,513,838
National Fuel Gas Company 44,231 3,095,728
ONE Gas, Inc. 27,308 935,299
Questar Corp. 92,045 2,051,683
UGI Corp. 90,537 3,086,406
WGL Holdings, Inc. 27,274 1,148,781
12,831,735
Multi-utilities - 1.1%
Alliant Energy Corp. 58,273 3,228,907
Black Hills Corp. 23,446 1,122,594

The accompanying notes are an integral part of the financial statements. 159


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Mid Cap Index Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Multi-utilities (continued)
MDU Resources Group, Inc.       101,853       $ 2,832,532  
Vectren Corp. 43,335 1,729,067
8,913,100
Water utilities - 0.3%
Aqua America, Inc. 93,034 2,189,090
37,509,626
TOTAL COMMON STOCKS (Cost $517,498,122) $ 808,108,879
 
RIGHTS - 0.0%
Community Health Systems, Inc. (Expiration
       Date: 01/27/2016) (I)(N) 137,366 4,121
TOTAL RIGHTS (Cost $8,929) $ 4,121
 
SECURITIES LENDING COLLATERAL - 4.8%
John Hancock Collateral
       Investment Trust, 0.1178% (W)(Y) 3,974,940 39,777,621
TOTAL SECURITIES LENDING
COLLATERAL (Cost $39,777,661) $ 39,777,621
 
SHORT-TERM INVESTMENTS - 2.1%
 
Repurchase agreement - 2.1%
Repurchase Agreement with State Street Corp.
       dated 09/30/2014 at 0.000% to be
       repurchased at $17,211,000 on 10/01/2014,
       collateralized by $15,675,000 U.S. Treasury
       Bonds, 3.750% due 11/15/2043 (valued at
       $17,556,000, including interest) $ 17,211,000 $ 17,211,000
TOTAL SHORT-TERM INVESTMENTS (Cost $17,211,000) $ 17,211,000
Total Investments (Mid Cap Index Trust)
       (Cost $574,495,712) - 105.1% $ 865,101,621
Other assets and liabilities, net - (5.1%) (41,700,739 )
TOTAL NET ASSETS - 100.0% $ 823,400,882

Mid Cap Stock Trust

Shares or
Principal
Amount Value
COMMON STOCKS - 91.6%
Consumer discretionary - 23.0%
Auto components - 0.5%
Tenneco, Inc. (I) 87,090       $ 4,555,678
Automobiles - 1.5%
Harley-Davidson, Inc. 226,678 13,192,660
Diversified consumer services - 0.1%
The Honest Company, Inc. (I)(R) 28,542 772,269
Hotels, restaurants and leisure - 7.8%
Bloomin’ Brands, Inc. (I) 288,124 5,284,194
Buffalo Wild Wings, Inc. (I) 49,728 6,676,979
Chipotle Mexican Grill, Inc. (I) 18,663 12,440,569
Diamond Resorts International, Inc. (I) 427,020 9,718,975
Panera Bread Company, Class A (I) 70,345 11,446,538
Starwood Hotels & Resorts Worldwide, Inc. 145,175 12,080,012
Wyndham Worldwide Corp. 112,390 9,132,811
66,780,078
Household durables - 3.4%
Harman International Industries, Inc. 76,158 7,466,530
Lennar Corp., Class A 201,596 7,827,973
Whirlpool Corp. 97,020 14,130,963
29,425,466
Internet and catalog retail - 2.9%
Netflix, Inc. (I) 38,567 17,400,659
Zalando SE (I)(S) 19,632 533,118
zulily, Inc., Class A (I)(L) 177,977 6,743,549
24,677,326
Media - 0.9%
IMAX Corp. (I)(L) 297,516 8,169,789
Specialty retail - 3.3%
Advance Auto Parts, Inc. 84,273 10,980,772
Ross Stores, Inc. 105,615 7,982,382
Signet Jewelers, Ltd. 79,633 9,070,995
28,034,149
Textiles, apparel and luxury goods - 2.6%
Kate Spade & Company (I) 279,504 7,331,390
Samsonite International SA 2,894,080 9,291,719
Vince Holding Corp. (I) 179,282 5,425,073
22,048,182
197,655,597
Consumer staples - 4.3%
Beverages - 1.0%
Monster Beverage Corp. (I) 88,570 8,119,212
Food and staples retailing - 0.5%
Sprouts Farmers Market, Inc. (I)(L) 146,801 4,267,505
Food products - 1.8%
Keurig Green Mountain, Inc. 82,763 10,769,949
The WhiteWave Foods Company, Class A (I) 135,971 4,939,826
15,709,775
Household products - 1.0%
Spectrum Brands Holdings, Inc. 96,714 8,755,518
36,852,010
Energy - 3.6%
Oil, gas and consumable fuels - 3.6%
Diamondback Energy, Inc. (I) 129,858 9,710,781
Energen Corp. 132,264 9,554,751
Pioneer Natural Resources Company 62,277 12,266,701
31,532,233
31,532,233
Financials - 4.8%
Capital markets - 2.3%
Julius Baer Group, Ltd. (I) 241,360 10,785,704
Northern Trust Corp. 129,700 8,823,491
19,609,195
Diversified financial services - 0.5%
Nomad Holdings, Ltd. (I) 375,429 4,289,013
Insurance - 1.0%
Assured Guaranty, Ltd. 400,079 8,865,751
Real estate management and development - 1.0%
CBRE Group, Inc., Class A (I) 282,926 8,414,219
41,178,178

The accompanying notes are an integral part of the financial statements. 160


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Mid Cap Stock Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Health care - 15.6%
Biotechnology - 3.2%
Alnylam Pharmaceuticals, Inc. (I) 39,321       $ 3,070,970
Cepheid, Inc. (I)(L) 146,000 6,428,380
Cubist Pharmaceuticals, Inc. (I) 48,984 3,249,599
Incyte Corp. (I) 79,042 3,877,010
NPS Pharmaceuticals, Inc. (I) 110,902 2,883,452
Regeneron Pharmaceuticals, Inc. (I) 23,110 8,331,617
27,841,028
Health care equipment and supplies - 3.9%
DexCom, Inc. (I) 352,960 14,114,870
HeartWare International, Inc. (I)(L) 113,680 8,824,978
Insulet Corp. (I)(L) 293,667 10,821,629
33,761,477
Health care providers and services - 1.1%
Envision Healthcare Holdings, Inc. (I) 278,978 9,674,957
Health care technology - 2.2%
Cerner Corp. (I) 126,930 7,561,220
Veeva Systems, Inc., Class A (I)(L) 390,108 10,989,342
18,550,562
Life sciences tools and services - 1.0%
Covance, Inc. (I) 105,408 8,295,610
Pharmaceuticals - 4.2%
Actavis PLC (I) 51,784 12,494,444
Ono Pharmaceutical Company, Ltd. 136,670 12,135,984
Salix Pharmaceuticals, Ltd. (I) 72,098 11,264,592
35,895,020
134,018,654
Industrials - 18.3%
Aerospace and defense - 2.4%
DigitalGlobe, Inc. (I) 391,568 11,159,688
Textron, Inc. 255,409 9,192,170
20,351,858
Airlines - 0.7%
Spirit Airlines, Inc. (I) 92,328 6,383,558
Commercial services and supplies - 1.0%
Clean Harbors, Inc. (I) 167,856 9,050,796
Construction and engineering - 1.6%
AECOM Technology Corp. (I) 407,401 13,749,784
Electrical equipment - 2.2%
Acuity Brands, Inc. 92,984 10,945,147
Generac Holdings, Inc. (I)(L) 193,641 7,850,206
18,795,353
Machinery - 2.0%
Pall Corp. 105,136 8,799,883
Pentair PLC 127,113 8,324,630
17,124,513
Professional services - 4.0%
IHS, Inc., Class A (I) 117,685 14,732,985
ManpowerGroup, Inc. 137,853 9,663,495
Nielsen NV 221,734 9,829,468
34,225,948
Road and rail - 2.2%
Kansas City Southern 75,198 9,113,998
Landstar System, Inc. 134,137 9,683,350
18,797,348
Trading companies and distributors - 2.2%
HD Supply Holdings, Inc. (I) 440,185 11,999,443
WESCO International, Inc. (I) 87,401 6,840,002
18,839,445
157,318,603
Information technology - 18.9%
Communications equipment - 2.2%
F5 Networks, Inc. (I) 112,508 13,359,200
Ubiquiti Networks, Inc. (I)(L) 153,926 5,776,843
19,136,043
Electronic equipment, instruments and components - 2.0%
Cognex Corp. (I) 234,511 9,443,758
TE Connectivity, Ltd. 136,237 7,532,544
16,976,302
Internet software and services - 5.3%
Akamai Technologies, Inc. (I) 211,085 12,622,883
CoStar Group, Inc. (I) 45,495 7,076,292
Equinix, Inc. (I) 41,345 8,784,986
Shutterstock, Inc. (I)(L) 101,059 7,213,591
Yelp, Inc. (I)(L) 147,475 10,065,169
45,762,921
Semiconductors and semiconductor equipment - 2.8%
First Solar, Inc. (I) 87,150 5,735,342
NXP Semiconductor NV (I) 191,741 13,120,837
SunEdison, Inc. (I) 289,152 5,459,190
24,315,369
Software - 5.5%
Activision Blizzard, Inc. 522,082 10,854,085
Cadence Design Systems, Inc. (I) 601,098 10,344,897
FactSet Research Systems, Inc. (L) 72,517 8,812,991
ServiceNow, Inc. (I) 23,127 1,359,405
Solera Holdings, Inc. 184,970 10,424,909
Tyler Technologies, Inc. (I) 65,986 5,833,162
47,629,449
Technology hardware, storage and peripherals - 1.1%
SanDisk Corp. 92,464 9,056,849
162,876,933
Materials - 3.1%
Chemicals - 1.3%
Platform Specialty Products Corp. (I) 443,414 11,094,218
Construction materials - 1.8%
Eagle Materials, Inc. 89,528 9,116,636
Martin Marietta Materials, Inc. 48,922 6,308,003
15,424,639
26,518,857
TOTAL COMMON STOCKS (Cost $704,327,549) $ 787,951,065
 
PREFERRED SECURITIES - 4.9%
Consumer discretionary - 0.2%
The Honest Company, Inc. (I)(R) 66,598 1,801,962
Health care - 0.2%
ConforMIS, Inc. (I)(R) 203,582 1,628,656
Industrials - 0.4%
Lithium Technology Corp. (I)(R) 631,698 3,078,896
Information technology - 4.1%
Apigee Corp., Series H (I)(R) 1,073,547 3,124,022

The accompanying notes are an integral part of the financial statements. 161


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Mid Cap Stock Trust (continued)

Shares or
Principal
Amount Value
PREFERRED SECURITIES (continued)
Information technology (continued)
Datalogix Holdings, Inc. (I)(R)   357,446       $ 3,681,694  
DocuSign, Inc., Series B (I)(R) 6,185 73,725
DocuSign, Inc., Series B1 (I)(R) 1,853 22,088
DocuSign, Inc., Series D (I)(R) 4,445 52,984
DocuSign, Inc., Series E (I)(R) 114,951 1,370,216
Essence Group Holdings Corp. (I)(R) 1,459,559 2,308,001
Lookout, Inc., Series F (I)(R) 185,829 2,122,743
New Relic, Inc., Series F (I)(R) 50,744 1,468,227
Nutanix, Inc. (I)(R) 148,220 1,985,629
One Kings Lane, Inc. (I)(R) 302,694 4,431,440
Pure Storage, Inc., Series F (I)(R) 211,388 3,324,267
Uber Technologies, Inc. (I)(R) 146,126 9,067,440
Veracode, Inc. (I)(R) 136,934 2,528,610
35,561,086
TOTAL PREFERRED SECURITIES (Cost $42,460,295) $ 42,070,600
 
WARRANTS - 0.1%
Nomad Holdings, Ltd. (Expiration Date:
       04/10/2017; Strike Price: $11.50) (I) 375,400 200,839
TOTAL WARRANTS (Cost $3,754) $ 200,839
 
SECURITIES LENDING COLLATERAL - 6.4%
John Hancock Collateral
       Investment Trust, 0.1178% (W)(Y) 5,510,170 55,140,826
TOTAL SECURITIES LENDING
COLLATERAL (Cost $55,140,673) $ 55,140,826
 
SHORT-TERM INVESTMENTS - 3.0%
Repurchase agreement - 3.0%
Societe Generale SA Tri-Party Repurchase
       Agreement dated 09/30/2014 at 0.001% to
       be repurchased at $26,000,001 on
       10/01/2014, collateralized by $19,486,400
       U.S. Treasury Notes, 1.750% - 2.500% due
       3/31/2015 to 10/31/2018 (valued at
       $19,751,279, including interest) and
       $7,277,100 U.S. Treasury Bonds, 2.750%
       due 11/15/2042 (valued at $6,768,813,
       including interest) $ 26,000,000 $ 26,000,000
TOTAL SHORT-TERM INVESTMENTS (Cost $26,000,000) $ 26,000,000
Total Investments (Mid Cap Stock Trust)
       (Cost $827,932,271) - 106.0% $ 911,363,330
Other assets and liabilities, net - (6.0%) (51,217,308 )
TOTAL NET ASSETS - 100.0% $ 860,146,022

Mid Value Trust

Shares or
Principal
Amount Value
COMMON STOCKS - 90.6%
Consumer discretionary - 9.9%
Auto components - 0.5%
Visteon Corp. (I) 49,700       $ 4,833,328
Diversified consumer services - 1.4%
Graham Holdings Company, Class B 4,900 3,427,991
Houghton Mifflin Harcourt Company (I) 177,500 3,450,600
Strayer Education, Inc. (I)(L) 102,105 6,114,047
12,992,638
Leisure products - 1.2%
Hasbro, Inc. 44,700 2,458,277
Mattel, Inc. 201,000 6,160,650
Sankyo Company, Ltd. 52,100 1,867,153
10,486,080
Media - 2.9%
Cablevision Systems Corp., Class A (L) 570,900 9,996,459
DreamWorks Animation
       SKG, Inc., Class A (I)(L) 49,200 1,341,684
News Corp., Class A (I) 570,700 9,330,945
Scholastic Corp. 116,924 3,778,984
Tribune Company, Class A (I) 25,600 1,684,480
26,132,552
Multiline retail - 1.4%
Kohl’s Corp. 200,800 12,254,824
Specialty retail - 1.8%
Abercrombie & Fitch Company, Class A 156,000 5,669,040
American Eagle Outfitters, Inc. (L) 201,500 2,925,780
CarMax, Inc. (I) 68,800 3,195,760
The Gap, Inc. 115,400 4,811,026
16,601,606
Textiles, apparel and luxury goods - 0.7%
Coach, Inc. 184,300 6,562,923
89,863,951
Consumer staples - 8.4%
Food and staples retailing - 2.8%
Sysco Corp. 411,100 15,601,245
The Kroger Company 186,900 9,718,800
25,320,045
Food products - 4.2%
Archer-Daniels-Midland Company 171,400 8,758,540
Bunge, Ltd. 186,700 15,725,741
Dean Foods Company (L) 260,900 3,456,925
Flowers Foods, Inc. 242,100 4,444,956
McCormick & Company, Inc. 66,500 4,448,850
Tootsie Roll Industries, Inc. (L) 35,281 987,515
37,822,527
Household products - 0.4%
The Clorox Company (L) 42,700 4,100,908
Personal products - 1.0%
Avon Products, Inc. 709,300 8,937,180
76,180,660
Energy - 8.8%
Energy equipment and services - 2.0%
Exterran Holdings, Inc. 358,422 15,881,679
SEACOR Holdings, Inc. (I) 32,400 2,423,520
18,305,199
Oil, gas and consumable fuels - 6.8%
Cameco Corp. (L) 477,500 8,432,650
Chesapeake Energy Corp. 67,900 1,561,021
CONSOL Energy, Inc. 198,447 7,513,203
Forest Oil Corp. (I)(L) 129,900 151,983
Hess Corp. 90,300 8,517,096
Murphy Oil Corp. 54,600 3,107,286

The accompanying notes are an integral part of the financial statements. 162


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Mid Value Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Oil, gas and consumable fuels (continued)
PBF Energy, Inc., Class A 51,907       $ 1,245,768
Talisman Energy, Inc. 1,598,300 13,828,766
WPX Energy, Inc. (I) 715,100 17,205,306
61,563,079
79,868,278
Financials - 26.0%
Banks - 5.2%
CIT Group, Inc. 351,200 16,141,152
Commerce Bancshares, Inc. 70,996 3,169,616
First Horizon National Corp. 882,549 10,837,702
First Niagara Financial Group, Inc. 768,300 6,399,939
SunTrust Banks, Inc. 128,900 4,902,067
WestAmerica Bancorp. (L) 110,100 5,121,852
46,572,328
Capital markets - 7.2%
E*TRADE Financial Corp. (I) 803,844 18,158,836
Lazard, Ltd., Class A 393,800 19,965,660
Legg Mason, Inc. 117,800 6,026,648
Northern Trust Corp. 313,200 21,306,996
65,458,140
Consumer finance - 0.6%
Ally Financial, Inc. (I) 234,260 5,420,776
Diversified financial services - 1.1%
FNFV Group (I) 121,840 1,676,518
Groupe Bruxelles Lambert SA 11,167 1,022,879
PHH Corp. (I) 324,900 7,264,764
9,964,161
Insurance - 8.1%
CNA Financial Corp. 235,100 8,940,853
Enstar Group, Ltd. (I) 8,338 1,136,636
First American Financial Corp. 419,700 11,382,264
FNF Group 281,016 7,795,384
Kemper Corp. 206,254 7,043,574
Loews Corp. 39,800 1,658,068
Marsh & McLennan Companies, Inc. 294,900 15,435,066
OneBeacon Insurance Group, Ltd., Class A 100,135 1,543,080
The Progressive Corp. 224,300 5,670,304
White Mountains Insurance Group, Ltd. 19,300 12,160,351
72,765,580
Real estate investment trusts - 2.8%
AvalonBay Communities, Inc. 20,200 2,847,594
Rayonier, Inc. 198,900 6,193,746
Vornado Realty Trust 4,600 459,816
Washington Real Estate Investment Trust 152,200 3,862,836
Weingarten Realty Investors 94,000 2,961,000
Weyerhaeuser Company 289,136 9,211,873
25,536,865
Real estate management and development - 0.4%
The St. Joe Company (I)(L) 192,717 3,840,850
Thrifts and mortgage finance - 0.6%
Capitol Federal Financial, Inc. 477,198 5,640,480
235,199,180
Health care - 8.6%
Health care equipment and supplies - 1.5%
Haemonetics Corp. (I) 58,200 2,032,344
Hologic, Inc. (I) 393,200 9,566,556
Thoratec Corp. (I) 56,600 1,512,918
13,111,818
Health care providers and services - 3.7%
HealthSouth Corp. 146,770 5,415,813
Humana, Inc. 38,700 5,042,223
Kindred Healthcare, Inc. 94,100 1,825,540
Quest Diagnostics, Inc. 135,500 8,222,140
Select Medical Holdings Corp. 560,588 6,743,874
Tenet Healthcare Corp. (I) 108,400 6,437,876
33,687,466
Pharmaceuticals - 3.4%
Hospira, Inc. (I) 346,800 18,044,004
Mallinckrodt PLC (I) 29,900 2,695,485
Zoetis, Inc. 264,600 9,776,970
30,516,459
77,315,743
Industrials - 10.1%
Aerospace and defense - 2.4%
Textron, Inc. 600,800 21,622,792
Air freight and logistics - 2.2%
C.H. Robinson Worldwide, Inc. 208,200 13,807,824
Expeditors International of Washington, Inc. 155,100 6,293,958
20,101,782
Airlines - 1.2%
Southwest Airlines Company 313,500 10,586,895
Commercial services and supplies - 1.3%
Cintas Corp. 166,700 11,767,353
Construction and engineering - 0.7%
KBR, Inc. 343,200 6,462,456
Machinery - 1.4%
Harsco Corp. 320,400 6,859,764
Ingersoll-Rand PLC 24,600 1,386,456
Xylem, Inc. 121,800 4,322,682
12,568,902
Professional services - 0.9%
ManpowerGroup, Inc. 113,100 7,928,310
91,038,490
Information technology - 3.6%
Communications equipment - 0.4%
ADTRAN, Inc. 196,700 4,038,251
Electronic equipment, instruments and components - 0.3%
AVX Corp. 211,100 2,803,408
Semiconductors and semiconductor equipment - 2.8%
Applied Materials, Inc. 592,800 12,810,408
ASML Holding NV 27,923 2,759,351
Broadcom Corp., Class A 146,900 5,937,698
Marvell Technology Group, Ltd. 217,400 2,930,552
ON Semiconductor Corp. (I) 52,500 469,350
24,907,359
Software - 0.1%
FactSet Research Systems, Inc. (L) 7,300 887,169
32,636,187
Materials - 7.1%
Chemicals - 1.3%
Agrium, Inc. (L) 38,100 3,390,900

The accompanying notes are an integral part of the financial statements. 163


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Mid Value Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Chemicals (continued)
Celanese Corp., Series A 8,200       $ 479,864  
The Scotts Miracle-Gro Company, Class A 142,000 7,810,000
11,680,764
Construction materials - 1.3%
Vulcan Materials Company 184,907 11,136,949
Containers and packaging - 1.8%
MeadWestvaco Corp. 204,800 8,384,512
Packaging Corp. of America 127,400 8,130,668
16,515,180
Metals and mining - 2.3%
Compania de Minas Buenaventura SA, ADR 137,700 1,594,566
Franco-Nevada Corp. 135,500 6,650,685
Lonmin PLC (I) 1,060,745 3,180,538
Newmont Mining Corp. 402,200 9,270,710
20,696,499
Paper and forest products - 0.4%
Louisiana-Pacific Corp. (I)(L) 269,300 3,659,787
63,689,179
Telecommunication services - 0.7%
Wireless telecommunication services - 0.7%
Telephone & Data Systems, Inc. 253,636 6,077,119
Utilities - 7.4%
Electric utilities - 3.2%
American Electric Power Company, Inc. 124,600 6,505,366
Duke Energy Corp. 31,233 2,335,291
FirstEnergy Corp. 571,151 19,173,539
PPL Corp. 35,000 1,149,400
29,163,596
Independent power and renewable electricity producers - 3.7%
Calpine Corp. (I) 323,600 7,022,120
Dynegy, Inc. (I) 318,400 9,189,024
NRG Energy, Inc. 554,805 16,910,456
33,121,600
Multi-utilities - 0.5%
NiSource, Inc. 121,700 4,987,266
67,272,462
TOTAL COMMON STOCKS (Cost $656,813,040) $ 819,141,249
           
PREFERRED SECURITIES - 0.2%
Energy - 0.2%
Energy equipment and services - 0.2%
McDermott International, Inc., 6.250% (I) 79,900 1,735,428
Financials - 0.0%
Real estate investment trusts - 0.0%
Weyerhaeuser Company, 6.375% (I) 6,600 356,598
TOTAL PREFERRED SECURITIES (Cost $2,337,123) $ 2,092,026
           
CONVERTIBLE BONDS - 0.4%
Industrials - 0.4%
UTi Worldwide, Inc. 4.500%, 03/01/2019 (S) $ 3,569,000 $ 3,798,754
TOTAL CONVERTIBLE BONDS (Cost $3,582,543) $ 3,798,754
           
SECURITIES LENDING COLLATERAL - 4.4%
John Hancock Collateral
       Investment Trust, 0.1178% (W)(Y) 3,999,351 40,021,903
TOTAL SECURITIES LENDING
COLLATERAL (Cost $40,021,724) $ 40,021,903
 
SHORT-TERM INVESTMENTS - 8.6%
Money market funds - 8.6%
State Street Institutional U.S. Government
       Money Market Fund, 0.0000% (Y) 1,045,547 1,045,547
T. Rowe Price Reserve Investment
       Fund, 0.0487% (Y) 76,142,451 76,142,451
TOTAL SHORT-TERM INVESTMENTS (Cost $77,187,998) $ 77,187,998
Total Investments (Mid Value Trust)
       (Cost $779,942,428) - 104.2% $ 942,241,930
Other assets and liabilities, net - (4.2%) (38,274,925 )
TOTAL NET ASSETS - 100.0% $ 903,967,005

Money Market Trust

Shares or
Principal
Amount Value
COMMERCIAL PAPER - 50.5%
Bank of Nova Scotia 0.180%, 01/20/2015 * $ $ 50,000,000       $ 49,972,250
Bank of Tokyo-Mitsubishi UFJ, Ltd.
       0.180%, 11/07/2014 * 33,000,000 32,993,895
       0.200%, 11/26/2014 * 35,000,000 34,989,111
       0.210%, 12/16/2014 *   25,000,000 24,988,918
Barclays U.S. Funding LLC
       0.200%, 12/17/2014 * 18,500,000 18,492,086
       0.250%, 02/11/2015 * 50,000,000 49,953,819
BNP Paribas Finance, Inc.
       0.080%, 10/01/2014* 45,000,000 45,000,000
       0.110%, 10/06/2014 * 60,000,000 59,999,083
Caisse Centrale Desjardins
       0.140%, 11/24/2014 * 35,000,000 34,992,650
       0.150%, 10/01/2014* 50,000,000 50,000,000
       0.200%, 11/21/2014 * 20,000,000 19,994,333
Deutsche Bank Financial LLC 0.300%,
       10/27/2014 * 50,000,000 49,989,167
Electricite de France SA
       0.080%, 10/27/2014 * 20,000,000 19,998,844
       0.250%, 12/11/2014 * 25,000,000 24,987,674
Govco LLC 0.110%, 10/28/2014 * 46,470,000 46,466,166
Henkel of America, Inc. 0.090%, 10/01/2014 * 40,000,000 40,000,000
International Business Machines Corp.
       0.090%, 12/18/2014 * 76,000,000 75,985,180
MetLife Short Term Funding LLC
       0.100%, 10/06/2014 * 30,000,000 29,999,583
       0.100%, 11/17/2014 * 8,000,000 7,998,956
       0.110%, 10/21/2014 * 18,500,000 18,498,869
       0.110%, 11/03/2014 * 17,000,000 16,998,286
       0.110%, 11/04/2014 * 20,000,000 19,997,922
       0.120%, 11/17/2014 * 15,380,000 15,377,590
PepsiCo, Inc. 0.050%, 10/30/2014 * 9,420,000 9,419,621
Philip Morris International, Inc.
       0.030%, 10/21/2014 * 25,000,000 24,999,583
       0.050%, 11/05/2014 * 28,570,000 28,568,611
Province of Ontario, Canada 0.100%,
       10/03/2014 * 24,000,000 23,999,867

The accompanying notes are an integral part of the financial statements. 164


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Money Market Trust (continued)

Shares or
Principal
Amount Value
COMMERCIAL PAPER (continued)
Province of Quebec, Canada 0.065%,
       10/22/2014 * $ 72,880,000       $ 72,877,237  
Toronot Dominion Holdings, Inc. 0.130%,
       10/06/2014 * 65,000,000 64,998,826
Toronto Dominion Holdings, Inc. 0.080%,
       10/23/2014 * 35,000,000 34,998,289
UBS AG 0.060%, 10/31/2014 * 75,000,000 74,996,250
TOTAL COMMERCIAL PAPER (Cost $1,122,532,666) $ 1,122,532,666
 
CORPORATE INTEREST-BEARING OBLIGATIONS - 9.6%
American Honda Finance Corp.
       0.235%, 12/05/2014 (P)* 25,000,000 25,000,000
Toyota Motor Credit Corp.
       0.234%, 01/14/2015 (P)* 51,000,000 51,000,000
Wells Fargo & Company
       1.250%, 02/13/2015 * 34,088,000 34,214,039
       1.500%, 07/01/2015 * 28,000,000 28,243,921
Westpac Banking Corp.
       0.224%, 05/22/2015 (P)(S)* 75,000,000 75,000,000
TOTAL CORPORATE INTEREST-BEARING
OBLIGATIONS (Cost $213,457,960) $ 213,457,960
 
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS - 24.4%
U.S. government - 9.5%
U.S. Treasury Note
       0.250%, 09/30/2015 * 85,000,000 85,089,054
       2.500%, 04/30/2015 * 50,000,000 50,678,088
       4.000%, 02/15/2015 * 75,000,000 76,078,610
U.S. government agency - 14.9%
Federal Home Loan Bank
       0.030%, 10/10/2014 * 54,540,000 54,539,591
       0.040%, 10/08/2014 * 40,900,000 40,899,682
       0.045%, 10/03/2014 * 91,950,000 91,949,770
       0.050%, 11/05/2014 to 11/12/2014 * 120,420,000 120,413,474
       0.060%, 10/02/2014 * 22,390,000 22,389,963
TOTAL U.S. GOVERNMENT AND AGENCY
OBLIGATIONS (Cost $542,038,232) $ 542,038,232
 
CERTIFICATE OF DEPOSIT - 15.8%
Bank of Montreal
       0.150%, 10/03/2014 * 52,990,000 52,990,000
       0.170%, 11/26/2014 * 32,000,000 32,000,000
       0.224%, 12/18/2014 (P)* 25,000,000 25,000,000
Barclays Bank PLC 0.354%, 12/15/2014 (P)* 40,000,000 40,000,000
Canadian Imperial Bank of Commerce
       0.060%, 10/29/2014 * 60,000,000 60,000,000
Credit Suisse New York 0.350%, 10/15/2014 * 30,000,000 30,000,000
Sumitomo Mitsui Banking Corp.
       0.200%, 12/02/2014 * 60,000,000 59,999,999
       0.250%, 12/09/2014 * 50,000,000 50,000,000
TOTAL CERTIFICATE OF DEPOSIT (Cost $349,989,999) $ 349,989,999
Total Investments (Money Market Trust)
       (Cost $2,228,018,857) - 100.3% $ 2,228,018,857
Other assets and liabilities, net - (0.3%) (7,299,664 )
TOTAL NET ASSETS - 100.0% $ 2,220,719,193

Money Market Trust B

Shares or
Principal
Amount Value
COMMERCIAL PAPER - 45.4%
Bank of Tokyo-Mitsubishi UFJ, Ltd.
       0.180%, 11/03/2014 * $ 10,000,000         9,998,350
       0.210%, 12/23/2014 * 10,000,000 9,995,158
Barclays U.S. Funding LLC 0.200%,
       12/17/2014 * 4,500,000 4,498,075
BMW US Capital LLC 0.060%, 10/01/2014 * 10,780,000 10,780,000
BNP Paribas Finance, Inc. 0.170%,
       11/24/2014 * 20,000,000 19,994,900
Caisse Centrale Desjardins
       0.120%, 10/27/2014 * 9,000,000 8,999,220
       0.150%, 10/06/2014 * 11,000,000 10,999,771
Cargill Global Funding PLC 0.060%,
       10/07/2014 * 5,400,000 5,399,946
Deutsche Bank Financial LLC 0.300%,
       10/27/2014 * 12,000,000 11,997,400
Electricite de France SA 0.080%, 10/27/2014 * 20,000,000 19,998,844
Govco LLC 0.110%, 10/28/2014 * 3,530,000 3,529,709
MetLife Funding, Inc. 0.090%, 10/21/2014 * 14,585,000 14,584,271
MetLife Short Term Funding LLC 0.110%,
       10/20/2014 * 5,400,000 5,399,687
National Rural Utilities Cooperative
       Finance Corp. 0.080%, 10/17/2014 * 7,550,000 7,549,732
PepsiCo, Inc. 0.050%, 10/30/2014 * 7,710,000 7,709,689
Philip Morris International, Inc. 0.050%,
       11/05/2014 * 20,000,000 19,999,028
Toronto Dominion Holdings, Inc. 0.080%,
       10/23/2014 * 19,630,000 19,629,040
TOTAL COMMERCIAL PAPER (Cost $191,062,820) $ 191,062,820
 
CORPORATE INTEREST-BEARING OBLIGATIONS - 9.4%
American Honda Finance Corp.
       0.235%, 12/05/2014 (P)* 5,000,000 5,000,000
Royal Bank of Canada 1.450%, 10/30/2014 * 3,370,000 3,373,168
Toyota Motor Credit Corp.
       0.234%, 01/14/2015 (P)* 9,000,000 9,000,000
Wells Fargo & Company
       1.250%, 02/13/2015 * 6,430,000 6,453,776
       1.500%, 07/01/2015 * 5,620,000 5,668,958
Westpac Banking Corp.
       0.224%, 05/22/2015 (P)(S)* 10,000,000 10,000,000
TOTAL CORPORATE INTEREST-BEARING
OBLIGATIONS (Cost $39,495,902) $ 39,495,902
 
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS - 28.4%
U.S. government - 10.8%
U.S. Treasury Note
       0.250%, 09/30/2015 * 15,000,000 15,015,715
       2.500%, 04/30/2015 * 10,000,000 10,135,618
       4.000%, 02/15/2015 * 20,000,000 20,287,629
U.S. government agency - 17.6%
Federal Home Loan Bank
       0.045%, 10/03/2014 to 10/09/2014 * 26,060,000 26,059,897
       0.050%, 11/12/2014 * 26,500,000 26,498,454
       0.055%, 10/17/2014 * 4,700,000 4,699,885
       0.070%, 10/08/2014 to 10/10/2014 * 16,140,000 16,139,759
Federal National Mortgage Association
       0.050%, 10/15/2014 * 700,000 699,986
TOTAL U.S. GOVERNMENT AND AGENCY
OBLIGATIONS (Cost $119,536,943) $ 119,536,943

The accompanying notes are an integral part of the financial statements. 165


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Money Market Trust B (continued)

Shares or
Principal
Amount       Value
CERTIFICATE OF DEPOSIT - 16.7%
Bank of Montreal  
       0.160%, 10/14/2014 * $ 10,770,000 $ 10,770,000
       0.200%, 12/09/2014 * 4,270,000   4,269,959
       0.224%, 12/18/2014 (P)* 5,000,000 5,000,000
Barclays Bank PLC 0.354%, 12/15/2014 (P)* 16,000,000 16,000,000
Canadian Imperial Bank of Commerce    
       0.060%, 10/29/2014 * 10,000,000 10,000,000
Credit Suisse New York 0.350%, 10/15/2014 * 4,000,000 4,000,000
Sumitomo Mitsui Banking Corp.
       0.200%, 12/02/2014 * 10,000,000 10,000,000
       0.250%, 12/09/2014 * 10,000,000 10,000,000
TOTAL CERTIFICATE OF DEPOSIT (Cost $70,039,959) $ 70,039,959
Total Investments (Money Market Trust B)
       (Cost $420,135,624) - 99.9% $ 420,135,624
Other assets and liabilities, net - 0.1% 452,213
TOTAL NET ASSETS - 100.0% $ 420,587,837

Mutual Shares Trust

Shares or
Principal
Amount       Value
COMMON STOCKS - 83.5%
Consumer discretionary - 9.4%
Auto components - 0.3%
Fiat SpA (I) 242,845 $ 1,923,572
Automobiles - 1.2%
General Motors Company 249,450 7,967,433
Diversified consumer services - 0.2%
Cengage Learning Holdings II LP (I) 38,500 1,183,862
Media - 7.2%
CBS Corp., Class B 133,117 7,121,760
Comcast Corp., Special Class A 37,717 2,017,860
Reed Elsevier PLC 525,147 8,395,531
Time Warner Cable, Inc. 70,530 10,120,350
Time Warner, Inc. 57,588 4,331,193
Tribune Company, Class A (I) 27,931 1,837,860
Tribune Company, Class B (I) 20,315 1,381,420
Tribune Publishing Company (I)(L) 13,360 269,605
Twenty-First Century Fox, Inc., Class B 343,576 11,444,514
46,920,093
Multiline retail - 0.5%
Kohl’s Corp. 47,805 2,917,539
60,912,499
Consumer staples - 11.0%
Beverages - 1.3%
Coca-Cola Enterprises, Inc. 23,591 1,046,497
PepsiCo, Inc. 80,216 7,467,307
8,513,804
Food and staples retailing - 3.2%
CVS Health Corp. 69,673 5,545,274
Tesco PLC 488,561 1,459,458
The Kroger Company 159,597 8,299,044
Walgreen Company 93,624 5,549,094
20,852,870
Personal products - 0.8%
Avon Products, Inc. 397,067 5,003,044
Tobacco - 5.7%
Altria Group, Inc. 155,111 7,125,799
British American Tobacco PLC 191,676 10,801,051
Imperial Tobacco Group PLC 155,070 6,676,684
Lorillard, Inc. 151,395 9,070,074
Philip Morris International, Inc. 38,054 3,173,704
36,847,312
71,217,030
Energy - 9.7%
Energy equipment and services - 1.9%
Baker Hughes, Inc. 101,176 6,582,511
Ensco PLC, Class A (L) 43,988 1,817,144
Transocean, Ltd. (L) 124,780 3,989,217
12,388,872
Oil, gas and consumable fuels - 7.8%
Apache Corp. 113,100 10,616,697
BG Group PLC 253,921 4,687,594
BP PLC 658,383 4,816,292
CONSOL Energy, Inc. 93,718 3,548,163
Marathon Oil Corp. 229,152 8,613,824
Murphy Oil Corp. 60,600 3,448,746
Royal Dutch Shell PLC, A Shares 294,054 11,224,834
Talisman Energy, Inc. 366,910 3,173,772
Talisman Energy, Inc. 26,740 231,359
50,361,281
62,750,153
Financials - 19.4%
Banks - 8.2%  
CIT Group, Inc. 88,845 4,083,316
Citigroup, Inc. 136,105 7,052,961
Citizens Financial Group, Inc. (I) 76,752 1,797,532
Columbia Banking System, Inc. 21,477 532,844
FCB Financial Holdings, Inc., Class A (I)(S) 60,504 1,344,600
Guaranty Bancorp 4,385 59,241
ING Groep NV (I) 287,988 4,093,524
JPMorgan Chase & Company 141,140   8,502,274
KB Financial Group, Inc. 94,599 3,448,691
Societe Generale SA 28,275 1,442,248
SunTrust Banks, Inc. 119,100 4,529,373
The PNC Financial Services Group, Inc. 136,484 11,680,301
Wells Fargo & Company 82,900 4,300,023
52,866,928
Capital markets - 0.8%
Credit Suisse Group AG (I) 201,008 5,561,018
Consumer finance - 0.5%
Ally Financial, Inc. (I) 135,700 3,140,098
Insurance - 8.4%
ACE, Ltd. 76,412 8,013,326
Alleghany Corp. (I) 15,534 6,495,542
American International Group, Inc. 202,415 10,934,458
MetLife, Inc. 118,880 6,386,234
The Allstate Corp. 87,326 5,359,197
White Mountains Insurance Group, Ltd. 20,381 12,841,457
Zurich Insurance Group AG (I) 14,449 4,300,062
54,330,276
Real estate investment trusts - 0.8%
Alexander’s, Inc. 13,593 5,082,559
Real estate management and development - 0.7%
Canary Wharf Group PLC (I) 555,649 3,961,827

The accompanying notes are an integral part of the financial statements. 166


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Mutual Shares Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Real estate management and development (continued)
Forestar Group, Inc. (I) 39,987 $ 708,570
4,670,397
125,651,276
Health care - 11.8%
Health care equipment and supplies - 3.1%  
Medtronic, Inc. 269,829 16,715,907
Stryker Corp. 45,115 3,643,036
  20,358,943
Health care providers and services - 1.6%  
Cigna Corp. 115,367 10,462,633
Pharmaceuticals - 7.1%
AstraZeneca PLC 39,800 2,852,180
Eli Lilly & Company 98,530 6,389,671
Hospira, Inc. (I) 105,006 5,463,462
Merck & Company, Inc. 296,830   17,596,082
Teva Pharmaceutical Industries, Ltd., ADR 248,104 13,335,590
45,636,985
76,458,561
Industrials - 4.4%
Aerospace and defense - 1.8%
B/E Aerospace, Inc. (I) 57,940 4,863,484
Huntington Ingalls Industries, Inc. 62,266 6,488,740
11,352,224
Machinery - 1.1%
Caterpillar, Inc. 42,642 4,222,837
CNH Industrial NV 143,970 1,140,385
Federal Signal Corp. 140,014 1,853,785
7,217,007
Marine - 1.5%
A.P. Moeller - Maersk A/S, Series B 4,075 9,653,038
28,222,269
Information technology - 10.5%
Communications equipment - 1.3%
Cisco Systems, Inc. 332,390 8,366,256
IT services - 1.3%
Xerox Corp. 623,814 8,253,059
Software - 4.2%
Microsoft Corp. 388,066 17,990,740
Symantec Corp. 403,650 9,489,812
27,480,552
Technology hardware, storage and peripherals - 3.7%
Apple, Inc. 145,760 14,685,320
Hewlett-Packard Company 141,663 5,024,787
Samsung Electronics Company, Ltd. 3,650 4,088,027
23,798,134
67,898,001
Materials - 4.3%
Containers and packaging - 0.8%  
MeadWestvaco Corp. 132,723 5,433,680
Metals and mining - 2.4%  
Anglo American PLC 129,132 2,879,874
Freeport-McMoRan Copper & Gold, Inc. 235,586 7,691,883
ThyssenKrupp AG (I) 181,251 4,732,023
15,303,780
Paper and forest products - 1.1%      
International Paper Company   151,175 7,217,095
27,954,555
Telecommunication services - 1.8%
Diversified telecommunication services - 0.6%
Koninklijke KPN NV (I) 1,291,070 4,133,521
Wireless telecommunication services - 1.2%
Vodafone Group PLC 2,302,996 7,588,885
  11,722,406
Utilities - 1.2%  
Electric utilities - 0.4%
Entergy Corp. 33,643     2,601,613
Independent power and renewable electricity producers - 0.8%
NRG Energy, Inc. 180,694 5,507,553
  8,109,166
TOTAL COMMON STOCKS (Cost $404,816,862) $ 540,895,916
 
CORPORATE BONDS - 3.1%
Consumer discretionary - 0.8%
iHeartCommunications, Inc.
       9.000%, 12/15/2019 $ 3,977,000 $ 4,006,828
Toys R Us - Delaware, Inc.
       7.375%, 09/01/2016 (S) 872,000 867,640
Tropicana Entertainment LLC
       9.625%, 12/15/2014 (H) 1,180,000 0
4,874,468
Energy - 0.5%
NGPL PipeCo LLC
       7.119%, 12/15/2017 (S) 1,287,000 1,287,000
       9.625%, 06/01/2019 (S) 1,911,000 2,025,660
3,312,660
Information technology - 1.2%
Avaya, Inc.
       7.000%, 04/01/2019 (S) 1,707,000 1,661,124
       10.500%, 03/01/2021 (S) 4,698,000 4,110,750
First Data Corp.
       11.750%, 08/15/2021 1,337,000 1,547,578
       12.625%, 01/15/2021 483,000 578,393
First Data Holdings, Inc., PIK
       14.500%, 09/24/2019 (S) 195,002 204,752
8,102,597
Materials - 0.1%
Walter Energy, Inc.
       9.500%, 10/15/2019 (S) 425,000 382,500
Walter Energy, Inc., PIK
       11.000%, 04/01/2020 (S) 124,000 57,660
440,160
Utilities - 0.5%
Texas Competitive Electric Holdings
       Company LLC
       11.500%, 10/01/2020 (H)(S) 4,128,000 3,457,200
TOTAL CORPORATE BONDS (Cost $20,473,753) $ 20,187,085
 
TERM LOANS (M) - 3.4%
Consumer discretionary - 2.0%
Caesars Entertainment
       Operating Company, Inc.
       0.948%, 03/01/2017 426,320 387,418

The accompanying notes are an integral part of the financial statements. 167


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Mutual Shares Trust (continued)

Shares or
Principal
Amount       Value
TERM LOANS (M) (continued)
Consumer discretionary (continued)
Caesars Entertainment Operating
Company, Inc. (continued)
       6.948%, 03/01/2017 $ 2,033,290 $ 1,848,842
       9.750%, 01/28/2018 1,262,478 1,194,225
Cengage Learning Acquisitions, Inc.  
       7.000%, 03/31/2020 243,775 243,287
iHeartCommunications, Inc.  
       3.804%, 01/29/2016 33,414 33,053
       6.904%, 01/30/2019 4,025,467 3,832,369
       7.654%, 07/30/2019 1,293,886 1,261,539
JC Penney Corp., Inc.  
       6.000%, 05/22/2018 3,456,717 3,448,076
Toys R US - Delaware, Inc.
       TBD 09/01/2016 (T) 685,134 672,288
12,921,097
Energy - 0.0%
NGPL PipeCo LLC
       6.750%, 09/15/2017 109,117 108,481
Information technology - 0.5%
Avaya, Inc.  
       4.654%, 10/26/2017 2,551,993 2,427,052
       6.500%, 03/30/2018 622,996 616,474
  3,043,526
Materials - 0.0%
Walter Energy, Inc. TBD 04/01/2018 (T) 177,000 155,627
Utilities - 0.9%
Texas Competitive Electric Holdings
       Company LLC
       4.650%, 10/10/2017 7,466,240 5,525,017
TOTAL TERM LOANS (Cost $22,625,974) $ 21,753,748
 
MUNICIPAL BONDS - 0.3%
Commonwealth of Puerto Rico
       8.000%, 07/01/2035 $ 2,046,000 $ 1,800,521
TOTAL MUNICIPAL BONDS (Cost $1,909,884) $ 1,800,521
 
PREFERRED SECURITIES - 0.6%
Consumer discretionary - 0.6%
Volkswagen AG 18,412 3,802,226
TOTAL PREFERRED SECURITIES (Cost $4,802,113) $ 3,802,226
 
SECURITIES LENDING COLLATERAL - 0.9%
John Hancock Collateral
       Investment Trust, 0.1178% (W)(Y) 567,374 $ 5,677,766
TOTAL SECURITIES LENDING
COLLATERAL (Cost $5,677,693) $ 5,677,766
 
SHORT-TERM INVESTMENTS - 5.2%
U.S. government - 5.2%
U.S. Treasury Bills
       0.040%, 10/30/2014 * $ 3,000,000 $ 2,999,952
       0.043%, 01/02/2015 * 7,000,000 6,999,636
       0.046%, 10/23/2014 * 2,000,000 1,999,976
       0.046%, 02/26/2015 * 5,000,000 4,999,590
       0.048%, 02/19/2015 * 5,000,000 4,999,510
       0.050%, 10/09/2014 * 2,500,000 2,499,993
       0.050%, 10/16/2014 * 3,000,000 2,999,988
       0.055%, 10/02/2014 * 2,000,000 2,000,000
       0.055%, 01/08/2015 * 2,500,000 2,499,880
       0.055%, 01/22/2015 * 2,000,000 1,999,890
33,998,415
TOTAL SHORT-TERM INVESTMENTS (Cost $33,996,341) $ 33,998,415
Total Investments (Mutual Shares Trust)
       (Cost $494,302,620) - 97.0% $ 628,115,677
Other assets and liabilities, net - 3.0% 19,288,891
TOTAL NET ASSETS - 100.0% $ 647,404,568

Natural Resources Trust

Shares or
Principal
Amount       Value
COMMON STOCKS - 98.0%
Energy - 61.2%
Energy equipment and services - 4.2%
Baker Hughes, Inc. 30,515 $ 1,985,303
Halliburton Company 32,815 2,116,896
Patterson-UTI Energy, Inc. 41,755 1,358,290
  5,460,489
Oil, gas and consumable fuels - 57.0%
Anadarko Petroleum Corp. 15,133 1,535,092
Apache Corp. 38,510 3,614,934
Beach Energy, Ltd. 1,633,534   2,013,110
BG Group PLC 404,133 7,460,634
Cabot Oil & Gas Corp. 57,137 1,867,809
Chevron Corp. 39,881 4,758,601
Cimarex Energy Company 12,440   1,574,033
Cobalt International Energy, Inc. (I) 52,132 708,995
ConocoPhillips 20,146 1,541,572
CONSOL Energy, Inc. 55,222 2,090,705
DNO International ASA (I) 323,052 1,011,556
Enbridge, Inc. 56,684 2,714,030
Energen Corp. 19,330 1,396,399
EOG Resources, Inc. 27,642 2,737,111
Exxon Mobil Corp. 31,804 2,991,166
Galp Energia SGPS SA 179,455 2,916,558
Imperial Oil, Ltd. (L) 97,325 4,595,687
Kinder Morgan, Inc. (L) 34,345 1,316,787
Oil Search, Ltd. 304,033 2,372,921
Ophir Energy PLC (I) 541,628 2,008,590
PetroChina Company, Ltd., H Shares 2,201,790 2,821,930
Petroleo Brasileiro SA, ADR 186,590 2,778,325
Pioneer Natural Resources Company 18,230 3,590,763
Royal Dutch Shell PLC, Class A 256,590 9,806,975
Southwestern Energy Company (I) 35,222 1,231,009
Tullow Oil PLC 167,573 1,747,131
  73,202,423
  78,662,912
Industrials - 6.5%
Construction and engineering - 2.4%
KBR, Inc. 165,000 3,106,950
Machinery - 4.1%
Caterpillar, Inc. 25,460 2,521,304

The accompanying notes are an integral part of the financial statements. 168


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Natural Resources Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Machinery (continued)
Vallourec SA 58,244 $ 2,680,381
5,201,685
8,308,635
Information technology - 1.7%
Semiconductors and semiconductor equipment - 1.7%  
First Solar, Inc. (I) 33,351 2,194,829
Materials - 28.6%
Chemicals - 3.7%
JSR Corp. 76,700 1,338,557
The Mosaic Company 43,681 1,939,873
Umicore SA 33,869   1,476,617
4,755,047
Metals and mining - 24.9%
Anglo American PLC 183,002 4,081,271
BHP Billiton PLC 118,545 3,279,026
First Quantum Minerals, Ltd. 207,157 3,999,048
Fortescue Metals Group, Ltd. 885,471 2,690,082
Medusa Mining, Ltd. (I) 561,130 408,107
Mongolian Mining Corp. (I)(L)   6,974,060 780,786
New Gold, Inc. (I) 307,111 1,550,911
POSCO, ADR 29,589 2,245,805
Rio Tinto PLC 158,823 7,782,302
Teck Resources, Ltd. 97,000   1,837,020
Vale SA, ADR (L) 288,172 3,172,774
Vedanta Resources PLC 6,269 101,011
31,928,143
36,683,190
TOTAL COMMON STOCKS (Cost $132,829,704) $ 125,849,566
 
SECURITIES LENDING COLLATERAL - 7.0%
John Hancock Collateral
       Investment Trust, 0.1178% (W)(Y) 889,440 8,900,717
TOTAL SECURITIES LENDING
COLLATERAL (Cost $8,900,635) $ 8,900,717
 
SHORT-TERM INVESTMENTS - 1.0%
Repurchase agreement - 1.0%
Deutsche Bank Tri-Party Repurchase
       Agreement dated 09/30/2014 at 0.010% to
       be repurchased at $1,300,000 on
       10/01/2014, collateralized by $1,335,700
       U.S. Treasury Notes, 2.375% due
       08/15/2024 (valued at $1,326,095,
       including interest) $ 1,300,000 $ 1,300,000
TOTAL SHORT-TERM INVESTMENTS (Cost $1,300,000) $ 1,300,000
Total Investments (Natural Resources Trust)
       (Cost $143,030,339) - 106.0% $ 136,050,283
Other assets and liabilities, net - (6.0%) (7,664,456 )
TOTAL NET ASSETS - 100.0% $ 128,385,827

New Income Trust

Shares or
Principal
Amount       Value
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS - 48.7%
U.S. government - 20.6%
Treasury Inflation Protected Securities
       0.125%, 04/15/2017 $ 16,982,824 $ 17,211,039
       0.625%, 01/15/2024 33,042,796 33,223,507
       1.625%, 01/15/2015 14,810,911 14,820,168
       1.875%, 07/15/2015 8,359,874 8,545,363
U.S. Treasury Bonds
       3.125%, 02/15/2043 51,480,000   50,739,975
       3.375%, 05/15/2044 6,930,000 7,155,225
       5.375%, 02/15/2031 19,410,000 25,697,015
U.S. Treasury Notes  
       0.625%, 11/30/2017 20,025,000 19,666,733
       0.875%, 02/28/2017 102,205,000 102,308,840
       1.250%, 10/31/2018 10,360,000 10,231,308
       1.500%, 05/31/2019 22,785,000 22,553,596
       2.000%, 08/31/2021 22,930,000 22,621,867
       2.625%, 04/30/2016 6,640,000 6,871,882
U.S. Treasury Strips, PO
       2.285%, 05/15/2021 220,000 189,442
    341,835,960
U.S. government agency - 28.1%
Federal Home Loan Mortgage Corp.
       2.091%, 09/01/2035 (P) 24,334 25,751
       2.125%, 07/01/2038 (P) 29,376 31,199
       2.136%, 06/01/2038 (P) 41,959 44,562
       2.202%, 04/01/2037 (P) 94,189 100,020
       2.207%, 06/01/2037 (P) 225,549 239,627
       2.225%, 07/01/2035 (P) 18,965 20,182
       2.226%, 07/01/2035 (P) 29,756 31,666
       2.241%, 10/01/2036 (P) 135,893 144,805
       2.335%, 05/01/2037 (P) 26,312 28,108
       2.348%, 01/01/2036 (P) 1,039 1,107
       2.370%, 01/01/2036 (P) 79,225 84,450
       2.375%, 02/01/2035 (P) 59,300 63,171
       2.377%, 09/01/2032 (P) 1,093 1,172
       2.379%, 03/01/2036 (P) 61,532 65,625
       2.419%, 02/01/2037 (P) 88,661 95,033
       2.432%, 01/01/2037 (P) 31,486 33,692
       2.500%, 05/01/2028 4,171,989 4,205,724
       2.525%, 11/01/2035 (P) 16,933 18,128
       2.609%, 02/01/2037 (P) 93,468 100,186
       2.701%, 02/01/2038 (P) 79,950 85,696
       2.774%, 02/01/2037 (P) 32,458 34,791
       3.000%, 01/01/2043 to 06/01/2043 19,088,192 18,886,791
       3.500%, 03/01/2043 7,752,034 7,919,793
       4.000%, 05/01/2026 to 02/01/2041 14,527,742 15,352,468
       4.500%, 11/01/2018 to 10/01/2039 11,679,928 12,624,082
       5.000%, 10/01/2018 to 08/01/2040 4,661,872 5,146,657
       5.500%, 03/01/2018 to 12/01/2039 411,793 451,906
       5.859%, 12/01/2036 (P) 28,762 30,989
       5.954%, 10/01/2036 (P) 52,813 56,902
       6.000%, 04/01/2017 to 08/01/2038 959,432 1,076,039
       6.064%, 11/01/2036 (P) 20,838 22,452
       6.106%, 10/01/2036 (P) 40,103 43,207
       6.421%, 08/01/2036 (P) 12,929 13,902
       6.500%, 05/01/2017 to 03/01/2037 244,633 279,516
       7.000%, 02/01/2024 to 06/01/2032 9,100 10,545
       7.500%, 05/01/2024 to 06/01/2024 806 928
       10.500%, 05/01/2019 13 13
Federal National Mortgage Association
       1.737%, 10/01/2033 (P) 30,151 31,249
       1.950%, 06/01/2037 (P) 42,989 45,084
       1.987%, 12/01/2035 (P) 6,798 7,189

The accompanying notes are an integral part of the financial statements. 169


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

New Income Trust (continued)

Shares or
Principal
Amount       Value
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS (continued)
U.S. government agency (continued)
Federal National Mortgage
Association (continued)
       2.055%, 07/01/2035 (P) $ 25,805 $ 27,277
       2.056%, 07/01/2027 (P) 378 388
       2.151%, 07/01/2036 (P) 187,919 199,610
       2.159%, 08/01/2037 (P) 40,881 43,660
       2.161%, 09/01/2035 (P) 94,420 100,329
       2.188%, 12/01/2035 (P) 6,457 6,840
       2.190%, 09/01/2037 (P) 21,084 22,600
       2.193%, 05/01/2038 (P) 146,055 156,553
       2.205%, 08/01/2036 (P) 85,833 91,394
       2.222%, 11/01/2035 (P) 61,185 64,903
       2.334%, 05/01/2038 (P) 89,912 96,228
       2.337%, 04/01/2038 (P) 42,353 45,397
       2.343%, 05/01/2038 (P) 32,324 34,647
       2.358%, 08/01/2038 (P) 20,074 21,516
       2.498%, 01/01/2037 (P) 46,376 49,709
       2.500%, 10/01/2027 to 02/01/2043 23,668,196 23,378,579
       2.517%, 12/01/2035 (P) 14,314 15,328
       2.520%, 12/01/2035 (P) 2,982 3,196
       2.665%, 12/01/2036 (P) 81,032 86,856
       3.000%, 10/01/2026 to 10/01/2043 93,845,070 94,421,414
       3.500%, 10/01/2042 to 03/01/2043 15,275,742 15,640,258
       4.000%, 11/01/2025 to 01/01/2042 35,985,223 38,060,894
       4.375%, 10/15/2015 825,000 860,769
       4.500%, 05/01/2019 to 09/01/2042 41,979,585 45,332,172
       4.625%, 10/15/2014 660,000 661,168
       5.000%, 05/01/2018 to 07/01/2041 28,331,428 31,365,402
       5.500%, 11/01/2015 to 09/01/2041 18,966,061 21,287,810
       5.543%, 01/01/2019 (P) 240 256
       6.000%, 09/01/2017 to 10/01/2038 15,156,003 17,099,506
       6.055%, 09/01/2036 (P) 5,106 5,490
       6.500%, 11/01/2015 to 06/01/2039 4,152,166 4,694,132
       7.000%, 12/01/2029 to 04/01/2037 16,047 18,319
Government National
       Mortgage Association
       2.500%, 05/20/2028 to 03/20/2043 8,596,996 8,357,382
       3.500%, 09/15/2041 to 09/20/2044 42,232,191 43,739,705
       4.000%, 09/20/2040 to 05/20/2041 14,221,284 15,152,822
       4.500%, 01/15/2019 to 09/20/2040 11,946,126 13,017,814
       5.000%, 01/15/2019 to 03/20/2041 8,437,475 9,383,575
       5.500%, 02/15/2029 to 12/20/2039 5,408,288 6,062,520
       6.000%, 02/15/2016 to 07/20/2039 3,734,216 4,202,714
       6.500%, 08/15/2016 to 09/15/2038 2,227,656 2,545,411
       7.000%, 04/15/2017 to 10/20/2036 876,205 1,023,188
       9.250%, 02/15/2017 to 12/15/2019 1,852 2,117
       9.750%, 07/15/2017 to 02/15/2021 2,095 2,464
       10.250%, 11/15/2020 1,252 1,491
  464,838,210
TOTAL U.S. GOVERNMENT AND AGENCY
OBLIGATIONS (Cost $800,831,561) $ 806,674,170
 
FOREIGN GOVERNMENT
OBLIGATIONS - 2.4%
Bermuda - 0.3%
Government of Bermuda
       4.138%, 01/03/2023 (S) 2,075,000 2,043,875
       5.603%, 07/20/2020 (S) 2,190,000 2,398,050
4,441,925
Brazil - 0.5%
Federative Republic of Brazil
       4.875%, 01/22/2021 $ 1,000,000 $ 1,063,000
       6.000%, 08/15/2020 to 08/15/2050 BRL 7,871,000 8,044,078
9,107,078
Iceland - 0.1%
Republic of Iceland
       5.875%, 05/11/2022 $ 1,480,000 1,667,483
Malaysia - 0.2%
Government of Malaysia  
       3.492%, 03/31/2020 MYR 2,769,000 833,061
       3.889%, 07/31/2020 2,549,000 780,585
       4.378%, 11/29/2019 8,185,000 2,572,066
4,185,712
Mexico - 0.4%
Government of Mexico
       4.000%, 06/13/2019 MXN 20,093,088 1,654,773
       6.500%, 06/10/2021 32,880,000 2,552,700
       7.750%, 11/13/2042 17,460,000 1,424,154
       8.500%, 11/18/2038 16,590,000 1,459,175
  7,090,802
Morocco - 0.2%
Kingdom of Morocco  
       4.250%, 12/11/2022 (S) $ 2,580,000 2,561,166
South Africa - 0.7%
Republic of South Africa
       5.875%, 09/16/2025 2,565,000 2,821,500
       6.750%, 03/31/2021 ZAR 56,850,000 4,747,481
       8.250%, 09/15/2017 22,885,000 2,083,975
       10.500%, 12/21/2026 16,505,000 1,702,380
11,355,336
TOTAL FOREIGN GOVERNMENT
OBLIGATIONS (Cost $41,838,834) $ 40,409,502
 
CORPORATE BONDS - 26.8%
Consumer discretionary - 3.3%
21st Century Fox America, Inc.
       4.750%, 09/15/2044 (S) $ 3,790,000 3,805,364
British Sky Broadcasting Group PLC
       3.750%, 09/16/2024 (S) 2,120,000 2,115,749
CCO Holdings LLC
       6.625%, 01/31/2022 2,635,000 2,766,750
Comcast Corp.
       3.125%, 07/15/2022 2,210,000 2,222,232
COX Communications, Inc.
       3.250%, 12/15/2022 (S) 2,195,000 2,132,550
Delphi Corp.
       4.150%, 03/15/2024 1,770,000 1,806,138
DISH DBS Corp.
       5.125%, 05/01/2020 2,335,000 2,340,838
Ford Motor Credit Company LLC
       5.750%, 02/01/2021 3,960,000 4,499,087
Hyatt Hotels Corp.
       3.875%, 08/15/2016 2,260,000 2,368,177
NBCUniversal Media LLC
       5.150%, 04/30/2020 5,325,000 6,047,336
Newell Rubbermaid, Inc.
       2.050%, 12/01/2017 1,250,000 1,253,950
O’Reilly Automotive, Inc.
       4.875%, 01/14/2021 3,970,000 4,331,099

The accompanying notes are an integral part of the financial statements. 170


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

New Income Trust (continued)

Shares or
Principal
Amount       Value
CORPORATE BONDS (continued)
Consumer discretionary (continued)
QVC, Inc.
       3.125%, 04/01/2019 $ 3,475,000 $ 3,487,778
       4.375%, 03/15/2023 445,000 444,083
Sirius XM Radio, Inc.
       5.250%, 08/15/2022 (S) 4,271,000 4,452,518
The Interpublic Group of Companies, Inc.
       3.750%, 02/15/2023 1,615,000 1,601,868
       4.000%, 03/15/2022 2,365,000 2,402,440
Univision Communications, Inc.
       5.125%, 05/15/2023 (S) 800,000 810,000
Virgin Media Secured Finance PLC
       5.250%, 01/15/2021 1,670,000 1,678,350
WPP Finance 2010
       4.750%, 11/21/2021 3,650,000 3,973,120
  54,539,427
Consumer staples - 0.4%
Altria Group, Inc.
       4.750%, 05/05/2021 4,490,000 4,892,250
       9.250%, 08/06/2019 1,805,000 2,350,235
  7,242,485
Energy - 4.3%
Anadarko Petroleum Corp.
       6.375%, 09/15/2017 1,730,000 1,957,924
Continental Resources, Inc.
       5.000%, 09/15/2022 4,150,000 4,378,250
DCP Midstream Operating LP
       2.700%, 04/01/2019 280,000 280,745
       3.875%, 03/15/2023 1,890,000 1,892,786
Ecopetrol SA
       4.125%, 01/16/2025 2,040,000 1,973,700
       5.875%, 05/28/2045 600,000 607,920
Energy Transfer Partners LP
       5.200%, 02/01/2022 3,120,000 3,345,966
Enterprise Products Operating LLC
       5.950%, 02/01/2041 2,755,000 3,279,277
MarkWest Energy Partners LP
       4.500%, 07/15/2023 1,925,000 1,867,250
Murphy Oil Corp.
       4.000%, 06/01/2022 4,340,000 4,380,440
Noble Energy, Inc.
       6.000%, 03/01/2041 2,665,000 3,072,972
Origin Energy Finance, Ltd.
       3.500%, 10/09/2018 (S) 3,325,000 3,408,870
Pertamina Persero PT
       6.450%, 05/30/2044 (S) 1,055,000 1,065,550
Petrobras Global Finance BV
       4.375%, 05/20/2023 2,080,000 1,949,022
Petrobras International Finance Company
       5.750%, 01/20/2020 1,805,000 1,888,981
       5.875%, 03/01/2018 2,680,000 2,893,060
       7.875%, 03/15/2019 866,000 992,817
Petroleos Mexicanos
       4.875%, 01/24/2022 4,240,000 4,505,000
       5.500%, 06/27/2044 3,855,000 3,934,452
       6.500%, 06/02/2041 1,775,000 2,053,143
Rowan Companies, Inc.
       4.875%, 06/01/2022 1,190,000 1,236,530
       5.000%, 09/01/2017 1,425,000 1,539,775
       7.875%, 08/01/2019 90,000 108,836
Statoil ASA
       1.950%, 11/08/2018 3,045,000 3,056,711
Western Gas Partners LP
       4.000%, 07/01/2022 4,565,000 4,670,945
Williams Companies, Inc.
       3.700%, 01/15/2023 3,205,000 3,028,283
Williams Partners LP
       3.350%, 08/15/2022 2,835,000 2,772,622
       4.125%, 11/15/2020 2,275,000 2,382,419
       6.300%, 04/15/2040 2,365,000 2,754,790
  71,279,036
Financials - 9.6%
ABN AMRO Bank NV
       6.250%, 04/27/2022 3,026,000 3,387,940
Aflac, Inc.
       3.625%, 06/15/2023 4,320,000 4,352,232
Ameriprise Financial, Inc.
       7.300%, 06/28/2019 2,530,000 3,072,508
Bank of America Corp.
       3.300%, 01/11/2023 4,360,000 4,253,498
       4.200%, 08/26/2024 1,640,000 1,623,684
       6.110%, 01/29/2037 4,940,000 5,654,541
Barclays Bank PLC
       5.140%, 10/14/2020 5,995,000 6,468,491
BBVA Bancomer SA
       4.375%, 04/10/2024 (S) 2,975,000 3,004,750
Branch Banking & Trust Company
       3.800%, 10/30/2026 1,845,000 1,835,350
CNA Financial Corp.
       3.950%, 05/15/2024 1,100,000 1,113,407
       5.875%, 08/15/2020 2,665,000 3,039,936
Credit Agricole SA
       2.500%, 04/15/2019 (S) 3,940,000 3,932,774
Crown Castle Towers LLC
       6.113%, 01/15/2020 (S) 3,988,000 4,613,801
General Electric Capital Corp.
       5.300%, 02/11/2021 3,650,000 4,114,525
IFC Development Corporate
       Treasury, Ltd.
       2.375%, 05/21/2019 4,465,000 4,367,529
JPMorgan Chase & Company
       3.375%, 05/01/2023 1,135,000 1,087,549
       3.875%, 09/10/2024 3,415,000 3,342,042
Kilroy Realty LP
       6.625%, 06/01/2020 2,330,000 2,740,688
Liberty Mutual Group, Inc.
       4.850%, 08/01/2044 (S) 3,530,000 3,510,882
Lloyds Bank PLC
       6.500%, 09/14/2020 (S) 4,476,000 5,205,391
Marsh & McLennan Companies, Inc.
       3.500%, 03/10/2025 3,135,000 3,083,959
Morgan Stanley
       2.125%, 04/25/2018 12,690,000 12,690,799
       3.750%, 02/25/2023 7,000,000 6,992,713
       5.500%, 07/28/2021 2,500,000 2,816,348
Morgan Stanley Company  
       5.000%, 11/24/2025 5,745,000 6,010,034
Neuberger Berman Group LLC
       5.875%, 03/15/2022 (S) 1,695,000     1,800,938
Prologis LP    
       4.500%, 08/15/2017 2,665,000 2,854,780
Provident Companies, Inc.    
       7.000%, 07/15/2018 2,360,000 2,716,372
Reinsurance Group of America, Inc.
       4.700%, 09/15/2023 3,360,000 3,581,246

The accompanying notes are an integral part of the financial statements. 171


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

New Income Trust (continued)

Shares or
Principal
Amount       Value
CORPORATE BONDS (continued)
Financials (continued)
Reinsurance Group of America, Inc. (continued)
       5.000%, 06/01/2021 $ 1,720,000 $ 1,887,655
       5.625%, 03/15/2017 2,275,000 2,480,442
       6.450%, 11/15/2019 705,000 825,189
Sun Hung Kai Properties Capital
       Market, Ltd.  
       3.625%, 01/16/2023 4,300,000 4,236,480
The Bank Of Tokyo-Mitsubishi UFJ, Ltd.
       2.350%, 09/08/2019 (S) 2,170,000 2,152,282
The Goldman Sachs Group, Inc.  
       2.375%, 01/22/2018 5,415,000 5,466,870
       2.900%, 07/19/2018 3,785,000 3,877,680
       3.625%, 01/22/2023 13,495,000 13,371,102
       5.750%, 01/24/2022 1,900,000 2,162,415
The Royal Bank of Scotland PLC  
       6.125%, 01/11/2021 2,950,000 3,445,037
Unum Group
       4.000%, 03/15/2024 4,140,000 4,200,494
       5.625%, 09/15/2020 1,040,000 1,183,733
  158,558,086
Health care - 1.3%
Agilent Technologies, Inc.
       3.200%, 10/01/2022 375,000 364,553
       3.875%, 07/15/2023 430,000 430,641
Community Health Systems, Inc.
       8.000%, 11/15/2019 2,250,000 2,402,325
Humana, Inc.
       3.850%, 10/01/2024 2,485,000 2,484,083
       4.950%, 10/01/2044 1,750,000 1,754,211
Kaiser Foundation Hospitals
       3.500%, 04/01/2022 2,455,000 2,475,303
Life Technologies Corp.
       3.500%, 01/15/2016 3,455,000 3,566,251
Novant Health, Inc.
       5.850%, 11/01/2019 1,445,000 1,658,828
Thermo Fisher Scientific, Inc.
       2.400%, 02/01/2019 950,000 951,662
       4.150%, 02/01/2024 2,165,000 2,242,180
WellPoint, Inc.
       3.500%, 08/15/2024 2,825,000 2,755,895
21,085,932
Industrials - 2.6%
American Airlines 2013-1 Class A Pass
       Through Trust
       4.000%, 07/15/2025 3,505,534 3,544,971
American Airlines 2013-2 Class A Pass
       Through Trust
       4.950%, 01/15/2023 3,870,270 4,150,864
American Airlines 2014-1 Class B Pass
       Through Trust
       4.375%, 10/01/2022 305,000 308,813
Burlington Northern Santa Fe LLC
       5.400%, 06/01/2041 1,525,000 1,715,239
Continental Airlines 2009-1 Pass
       Through Trust
       9.000%, 07/08/2016 1,246,422 1,371,064
Continental Airlines 2010-1 Class A Pass
       Through Trust
       4.750%, 01/12/2021 871,267 934,434
Continental Airlines 2012-1 Class A Pass
       Through Trust
       4.150%, 04/11/2024 1,093,398 1,128,934
CRCC Yupeng, Ltd.
       3.950%, 02/28/2049 (P)(Q) 465,000 469,743
Delta Air Lines 2010-2 Class A Pass
       Through Trust
       4.950%, 05/23/2019 735,978 791,176
Delta Air Lines 2011-1 Class A Pass
       Through Trust
       5.300%, 04/15/2019 461,937 504,666
ERAC USA Finance LLC
       5.250%, 10/01/2020 (S) 3,300,000 3,720,806
Heathrow Funding, Ltd.
       4.875%, 07/15/2021 (S) 5,585,000 6,148,286
Odebrecht Finance, Ltd.
       5.250%, 06/27/2029 (S) 2,885,000 2,791,238
Southwest Airlines Company
       5.125%, 03/01/2017 3,710,000 4,004,548
Union Pacific Corp.
       4.750%, 09/15/2041 3,475,000 3,752,712
US Airways 2012-2 Class A Pass
       Through Trust
       4.625%, 06/03/2025 2,791,254 2,909,883
US Airways 2013-1 Class A Pass
       Through Trust
       3.950%, 11/15/2025 2,935,000 2,957,013
Verisk Analytics, Inc.
       5.800%, 05/01/2021 1,435,000 1,616,235
  42,820,625
Information technology - 0.8%
Avnet, Inc.
       4.875%, 12/01/2022 4,125,000 4,358,112
Baidu, Inc.
       2.750%, 06/09/2019 790,000 784,780
First Data Corp.
       12.625%, 01/15/2021 2,085,000 2,496,788
Fiserv, Inc.
       3.500%, 10/01/2022 2,190,000 2,198,309
Tencent Holdings, Ltd.
       3.375%, 05/02/2019 (S) 3,585,000 3,624,507
  13,462,496
Materials - 0.6%
Alcoa, Inc.
       5.125%, 10/01/2024 1,315,000 1,317,078
ArcelorMittal
       6.125%, 06/01/2018 3,125,000 3,312,500
Holcim US Finance Sarl & Cie SCS
       6.000%, 12/30/2019 (S) 2,095,000 2,408,270
LYB International Finance BV
       4.000%, 07/15/2023 2,420,000 2,504,383
Martin Marietta Materials, Inc.
       4.250%, 07/02/2024 (S) 980,000 994,214
  10,536,445
Telecommunication services - 3.0%
CC Holdings GS V LLC
       2.381%, 12/15/2017 4,208,000 4,257,255
GTP Acquisition Partners I LLC
       2.364%, 05/15/2018 (S) 2,905,000 2,864,917
       4.347%, 06/15/2016 (S) 1,335,000 1,363,586
Qwest Corp.
       7.500%, 10/01/2014 175,000 175,000
SBA Tower Trust
       3.598%, 04/15/2018 (S) 3,575,000 3,574,478

The accompanying notes are an integral part of the financial statements. 172


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

New Income Trust (continued)

Shares or
Principal
Amount       Value
CORPORATE BONDS (continued)
Telecommunication services (continued)
Sprint Communications, Inc.
       9.000%, 11/15/2018 (S) $ 2,855,000 $ 3,301,094
T-Mobile USA, Inc.
       6.731%, 04/28/2022 3,910,000 3,997,975
Verizon Communications, Inc.
       4.500%, 09/15/2020 5,050,000 5,464,777
       6.400%, 09/15/2033 19,665,000 23,928,195
  48,927,277
Utilities - 0.9%
Exelon Generation Company LLC
       6.250%, 10/01/2039 945,000 1,099,910
FirstEnergy Corp.  
       4.250%, 03/15/2023 2,930,000 2,910,598
PacifiCorp
       6.250%, 10/15/2037 3,000,000 3,894,624
Pennsylvania Electric Company
       6.150%, 10/01/2038 1,375,000 1,617,235
PPL Capital Funding, Inc.
       3.400%, 06/01/2023 3,060,000   3,016,013
       3.500%, 12/01/2022 2,555,000 2,572,236
Suburban Propane Partners LP  
       7.375%, 08/01/2021 55,000 58,300
  15,168,916
TOTAL CORPORATE BONDS (Cost $424,166,044) $ 443,620,725
 
MUNICIPAL BONDS - 1.5%
Chicago Metropolitan Water Reclamation
       District (Illinois) 5.720%, 12/01/2038 1,360,000 1,594,654
City of Chicago (Illinois)
       6.395%, 01/01/2040 1,925,000 2,424,287
Denver City & County School District
       No. 1 (Colorado) 4.242%, 12/15/2037 1,575,000 1,538,523
District of Columbia 5.591%, 12/01/2034 375,000 447,641
Florida Hurricane Catastrophe Fund
       Finance Corp., Series A
       1.298%, 07/01/2016 1,825,000 1,840,786
       2.995%, 07/01/2020 1,760,000 1,780,416
JobsOhio Beverage System
       4.532%, 01/01/2035 1,400,000 1,441,440
Los Angeles Department of Airports
       (California) 7.053%, 05/15/2040 1,230,000 1,628,213
Maryland State Transportation Authority
       5.888%, 07/01/2043 1,070,000 1,326,543
New York City Municipal Water Finance
       Authority 5.952%, 06/15/2042 840,000 1,071,571
Philadelphia Authority for Industrial
       Development (Pennsylvania)
       3.964%, 04/15/2026 3,565,000 3,498,798
Port Authority of New York & New Jersey
       4.458%, 10/01/2062 3,050,000 3,042,070
South Carolina State Public Service
       Authority 4.322%, 12/01/2027 1,705,000 1,813,387
State of Oregon 5.892%, 06/01/2027 60,000 73,033
Virginia Commonwealth Transportation
       Board 5.350%, 05/15/2035 515,000 595,180
TOTAL MUNICIPAL BONDS (Cost $22,452,498) $ 24,116,542
 
TERM LOANS (M) - 1.0%
Consumer discretionary - 0.2%
Univision Communications, Inc.
       4.000%, 03/01/2020 3,085,340 3,022,992
Consumer staples - 0.1%
HJ Heinz Company
       3.500%, 06/05/2020 1,555,313 1,534,705
Financials - 0.2%
Asurion LLC
       5.000%, 05/24/2019 4,217,255 4,192,656
Information technology - 0.3%
First Data Corp.
       4.155%, 03/24/2021 4,351,102 4,284,478
Telecommunication services - 0.2%
Intelsat Jackson Holdings SA
       3.750%, 06/30/2019 4,123,377 4,054,652
TOTAL TERM LOANS (Cost $17,294,885) $ 17,089,483
 
COLLATERALIZED MORTGAGE
OBLIGATIONS - 9.3%
Commercial and residential - 8.7%
Adjustable Rate Mortgage Trust,
       Series 2005-8, Class 7A-31
       0.395%, 11/25/2035 (P) 134,397 133,056
Alternative Loan Trust, Series 2004-33,
       Class 4A1 2.507%, 12/25/2034 (P) 1,808,270 1,741,787
Banc of America
       Commercial Mortgage Trust, Inc.
       Series 2006-5, Class AM,
              5.448%, 09/10/2047 4,975,000 5,331,772
       Series 2007-4, Class AM,
              6.015%, 02/10/2051 (P) 2,425,000 2,670,519
       Series 2006-3, Class AM,
              6.046%, 07/10/2044 (P) 2,210,000 2,316,900
Banc of America Funding Corp.,
       Series 2005-A, Class 5A1
              0.454%, 02/20/2035 (P) 223,417 216,932
Banc of America Mortgage Securities
       Series 2005-B, Class 2A1,
              2.624%, 03/25/2035 (P) 1,298,748 1,187,687
       Series 2004-D, Class 2A2,
              2.635%, 05/25/2034 (P) 18,290 18,423
       Series 2004-H, Class 2A2,
              2.650%, 09/25/2034 (P) 50,528 50,689
       Series 2004-I, Class 3A2,
              2.654%, 10/25/2034 (P) 11,070 11,071
       Series 2004-A, Class 2A2,
              2.679%, 02/25/2034 (P) 37,764 37,778
       Series 2005-J, Class 3A1,
              2.811%, 11/25/2035 (P) 958,163 906,402
Bear Stearns Commercial Mortgage
       Securities, Series 2006-PW12, Class A4
       5.890%, 09/11/2038 (P) 381,908 406,235
Commercial Mortgage Pass
       Through Certificates
       Series 2014-TWC, Class A,
              1.006%, 02/13/2032 (P)(S) 2,135,000 2,128,303
       Series 2013-CR13, Class C,
              4.914%, 12/10/2023 (P) 1,995,000 2,064,516
       Series 2014-CR15, Class C,
              4.920%, 02/10/2047 (P) 1,995,000 2,075,127
Commercial Mortgage Trust
       Series 2007-GG9, Class AM,
              5.475%, 03/10/2039 2,700,000 2,855,536
       Series 2007-GG9, Class AMFX,
              5.475%, 03/10/2039 5,095,000 5,431,560

The accompanying notes are an integral part of the financial statements. 173


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

New Income Trust (continued)

Shares or
Principal
Amount       Value
COLLATERALIZED MORTGAGE
OBLIGATIONS (continued)
Commercial and residential (continued)  
Credit Suisse Commercial Mortgage Trust,
       Series 2007-C3, Class AM
       5.893%, 06/15/2039 (P) $ 835,000 $ 880,647
Credit Suisse Mortgage
       Capital Certificates
       Series 2010-1R, Class 42A1,
              5.000%, 10/27/2036 (S) 178,569 184,547
       Series 2008-C1, Class A3,
              6.173%, 02/15/2041 (P) 1,795,000 1,985,593
Deutsche Alt-A Securities, Inc. Mortgage
       Loan Trust, Series 2005-2, Class 1A1
       0.555%, 04/25/2035 (P) 1,327,376 1,182,894
DSLA Mortgage Loan Trust
       Series 2004-AR4, Class 2A1A,
              0.513%, 01/19/2045 (P) 1,394,301 1,236,546
       Series 2004-AR1, Class A1A,
              0.993%, 09/19/2044 (P) 1,528,161   1,472,570
Fosse Master Issuer PLC
       Series 2012-1A, Class 3A1,  
              1.731%, 10/18/2054 (P)(S) 2,795,000 2,877,089
       Series 2011-1A, Class A5,    
              1.734%, 10/18/2054 (P)(S) 575,000 583,474
GMAC Mortgage Corp. Loan Trust,
       Series 2005-AR3, Class 5A1
       5.084%, 06/19/2035 (P) 362,183 364,374
GreenPoint Mortgage Funding Trust,
       Series 2005-AR1, Class A1
       0.395%, 06/25/2045 (P) 1,705,358 1,368,073
GS Mortgage Securities Corp. II
       Series 2014-GC20, Class B,
              4.529%, 04/10/2047 (P) 1,885,000 1,955,908
       Series 2006-GG6, Class A4,
              5.553%, 04/10/2038 (P) 5,100,000 5,314,455
HarborView Mortgage Loan Trust,
       Series 2005-2, Class 2A1A
       0.373%, 05/19/2035 (P) 592,607 506,608
Holmes Master Issuer PLC
       Series 2012-1A, Class A2,
              1.883%, 10/15/2054 (P)(S) 548,273 551,752
       Series 2012-3A, Class B1,
              2.433%, 10/15/2054 (P)(S) 2,950,000 3,060,153
HomeBanc Mortgage Trust
       Series 2005-4, Class A1,
              0.425%, 10/25/2035 (P) 1,692,349 1,520,947
       Series 2005-4, Class A2,
              0.485%, 10/25/2035 (P) 1,539,240 1,389,099
IndyMac INDX Mortgage Loan Trust,
       Series 2005-AR18, Class 2A1B
       0.935%, 10/25/2036 (P) 2,818,223 2,204,558
JPMorgan Alternative Loan Trust,
       Series 2007-A2, Class 12A3
       0.345%, 06/25/2037 (P) 642,927 605,150
JPMorgan Chase Commercial
       Mortgage Securities Trust
       Series 2005-LDP4, Class ASB,
              4.824%, 10/15/2042 (P) 21,494 21,533
       Series 2006-LDP9, Class A3,
              5.336%, 05/15/2047 611,728 655,390
       Series 2006-CB16, Class A4,
              5.552%, 05/12/2045 8,464,788 8,963,779
       Series 2007-CB19, Class A4,
              5.891%, 02/12/2049 (P) 4,823,000 5,242,731
       Series 2007-CB19, Class AM,
              5.891%, 02/12/2049 (P) 8,480,000 9,098,964
       Series 2007-LD11, Class AM,
              5.980%, 06/15/2049 (P) 925,000 970,861
JPMorgan Mortgage Trust,
       Series 2005-ALT1, Class 1A1
       0.455%, 10/25/2035 (P) 2,358,540 1,805,630
LB-UBS Commercial Mortgage Trust
       Series 2006-C1, Class A4,
              5.156%, 02/15/2031 5,667,500 5,873,083
       Series 2006-C7, Class A3,
              5.347%, 11/15/2038 2,185,000 2,346,410
       Series 2007-C6, Class AM,
              6.114%, 07/15/2040 (P) 1,070,000 1,170,393
       Series 2008-C1, Class AM,
              6.320%, 04/15/2041 (P) 825,000 913,973
       Series 2008-C1, Class A2,
              6.320%, 04/15/2041 (P) 1,415,000 1,583,331
Merrill Lynch Mortgage Investors Trust,
       Series 2005-A9, Class 2A1C
       2.500%, 12/25/2035 (P) 1,495,000 1,450,078
Merrill Lynch Mortgage Trust,
       Series 2006-C2, Class AM
       5.782%, 08/12/2043 (P) 2,950,000 3,164,450
Morgan Stanley Bank of America Merrill
       Lynch Trust, Series 2014-C15, Class B
       4.565%, 04/15/2047 (P) 1,595,000 1,655,932
Morgan Stanley Capital I Trust
       Series 2007-IQ13, Class A4,
              5.364%, 03/15/2044 10,875,000 11,762,683
       Series 2007-IQ14, Class A4,
              5.692%, 04/15/2049 (P) 1,885,000 2,047,504
       Series 2007-IQ14, Class AM,
              5.868%, 04/15/2049 (P) 1,095,000 1,147,434
       Series 2007-IQ14, Class AMFX,
              5.868%, 04/15/2049 (P) 3,895,000 4,109,392
       Series 2007-IQ15, Class A4,
              6.105%, 06/11/2049 (P) 1,070,286 1,175,557
Sequoia Mortgage Trust
       Series 2013-6, Class A1,
              2.500%, 05/25/2043 (P) 4,086,214 3,812,151
       Series 2010-H1, Class A1,
              2.689%, 02/25/2040 (P) 55,837 54,765
       Series 2013-7, Class A2,
              3.000%, 06/25/2043 (P) 1,929,316 1,862,091
STARM Mortgage Loan Trust,
       Series 2007-2, Class 5A1
       5.555%, 04/25/2037 (P) 1,308,351 1,199,417
Vendee Mortgage Trust, Series 1996-3,
       Class 4 9.624%, 03/15/2025 (P) 3,120 3,402
Wachovia Bank
       Commercial Mortgage Trust
       Series 2006-C28, Class A4,
              5.572%, 10/15/2048 8,152,416 8,714,615
       Series 2007-C34, Class A3,
              5.678%, 05/15/2046 1,235,000 1,343,443
WaMu Mortgage Pass
       Through Certificates
       Series 2005-AR13, Class A1A1,
              0.445%, 10/25/2045 (P) 327,884 313,337

The accompanying notes are an integral part of the financial statements. 174


John Hancock Variable Insurance Trust

PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)


New Income Trust (continued)

        Shares or
Principal
Amount Value
COLLATERALIZED MORTGAGE        
OBLIGATIONS (continued)    
Commercial and residential (continued)
WaMu Mortgage Pass Through
Certificates (continued)
Series 2005-AR12, Class 2A1,  
         2.382%, 09/25/2035 (P) $ 466,549 $ 474,881
Wells Fargo Mortgage  
Backed Securities Trust
Series 2006-2, Class 2A1,
       0.855%, 03/25/2036 (P) 1,189,306 966,288
Series 2003-O, Class 5A1,
       2.514%, 01/25/2034 (P) 48,673 48,583
WF-RBS Commercial Mortgage Trust,
Series 2014-C19, Class B
4.723%, 03/15/2047 (P) 960,000 1,013,065
143,793,876
U.S. government agency - 0.6%
Federal Home Loan Mortgage Corp.
Series 199, Class PO,
       0.338%, 08/01/2028 1,784 1,645
Series K502, Class A2,
       1.426%, 08/25/2017 1,645,000 1,651,776
Series K025, Class A1,
       1.875%, 04/25/2022 2,707,022 2,672,442
Series 2014-HQ2, Class M2,
       2.354%, 09/25/2024 (P) 1,385,000 1,371,549
Series 2014-DN3, Class M2,
       2.557%, 08/25/2024 (P) 1,715,000 1,716,379
Federal National Mortgage Association,
Series 319, Class 2 IO
6.500%, 02/25/2032 5,255 989
Government National
Mortgage Association
Series 1998-6, Class EA PO,
       0.226%, 03/16/2028 11,338 10,757
Series 2013-24, Class OI IO,
       4.000%, 02/20/2043 2,666,664 616,824
Series 2010-92, Class PI IO,
       4.500%, 11/20/2037 4,599,876 553,854
Series 2010-103, Class IN IO,
       4.500%, 02/20/2039 2,208,273 254,125
Series 2011-88, Class EI IO,
       4.500%, 11/20/2039 1,224,139 191,687
Series 2011-41 Class AI IO,
       4.500%, 12/20/2039 6,910,378 1,111,977
Series 2004-43, Class D,
       4.994%, 03/16/2030 (P) 10,628 10,757
10,164,761
TOTAL COLLATERALIZED MORTGAGE
OBLIGATIONS (Cost $147,037,584) $ 153,958,637
  
ASSET BACKED SECURITIES - 7.7%
Ally Auto Receivables Trust
Series 2012-A, Class C,
       2.400%, 11/15/2017 (S) 1,110,000 1,136,414
Series 2012-A, Class D,
       3.150%, 10/15/2018 (S) 1,650,000 1,697,994
American Express Credit Account
Master Trust, Series 2012-5, Class C
1.070%, 05/15/2018 (S) 1,145,000 1,149,398
Americredit Automobile
Receivables Trust, Series 2012-4,
Class C 1.930%, 08/08/2018 1,430,000 1,440,829
AmeriCredit
Automobile Receivables Trust
Series 2012-1, Class C,
       2.670%, 01/08/2018 300,000 304,581
Series 2011-1, Class C,
       2.850%, 08/08/2016 1,710,708 1,719,580
Avis Budget Rental Car
Funding AESOP LLC
Series 2014-1A, Class A,
       2.460%, 07/20/2020 (S) 6,905,000 6,903,004
Series 2013-2A, Class A,
       2.970%, 02/20/2020 (S) 3,630,000 3,699,162
BankBoston Home Equity Loan Trust,
Series 1998-2, Class A6
6.640%, 12/25/2028 (P) 10,941 10,965
Cabela’s Master Credit Card Trust
Series 2012-1A, Class A1,
       1.630%, 02/18/2020 (S) 2,000,000 2,014,630
Series 2011-2A, Class A1,
       2.390%, 06/17/2019 (S) 5,515,000 5,637,587
Capital Auto Receivables Asset Trust
Series 2013-1, Class B,
       1.290%, 04/20/2018 345,000 344,826
Series 2013-1, Class C,
       1.740%, 10/22/2018 360,000 360,126
Series 2014-2, Class B,
       2.030%, 12/20/2018 930,000 926,573
Series 2014-2, Class C,
       2.410%, 05/20/2019 835,000 831,372
Series 2014-1, Class C,
       2.840%, 04/22/2019 655,000 661,508
CarMax Auto Owner Trust, Series 2014-1,
Class D 2.430%, 08/17/2020 3,375,000 3,347,511
Chase Funding Mortgage Loan Asset-
Backed Certificates
Series 2002-4, Class 2A1,
       0.895%, 10/25/2032 (P) 4,639 4,373
Series 2002-2, Class 1M1,
       5.599%, 09/25/2031 8,812 8,632
Chase Issuance Trust, Series 2013-A8,
Class A8 1.010%, 10/15/2018 3,475,000 3,470,597
CIT Equipment Collateral,
Series 2012-VT1, Class A3
1.100%, 08/22/2016 (S) 13,320 13,326
CKE Restaurant Holdings, Inc.,
Series 2013-1A, Class A2
4.474%, 03/20/2043 (S) 6,197,350 6,255,580
CNH Equipment Trust, Series 2012-D,
Class B 1.270%, 05/15/2020 2,936,000 2,930,979
CNH Wholesale Master Note Trust,
Series 2013-2A, Class A
0.753%, 08/15/2019 (P)(S) 3,640,000 3,648,947
Countrywide Asset-Backed Certificates,
Series 2004-BC1, Class M2
1.760%, 01/25/2034 (P) 1,777,711 1,655,700
Diamond Resorts Owner Trust,
Series 2013-2, Class A
2.270%, 05/20/2026 (S) 2,815,907 2,837,068
Dominos Pizza Master Issuer LLC,
Series 2012-1A, Class A2
5.216%, 01/25/2042 (S) 4,270,825 4,511,251
Enterprise Fleet Financing LLC,
Series 2013-2, Class A2
1.060%, 03/20/2019 (S) 2,887,191 2,896,621

The accompanying notes are an integral part of the financial statements. 175


John Hancock Variable Insurance Trust

PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)


New Income Trust (continued)

        Shares or
Principal
Amount         Value
ASSET BACKED SECURITIES (continued)
Ford Credit Auto Owner Trust,
Series 2013-B, Class D
1.820%, 11/15/2019 $ 1,745,000 $ 1,763,691
Ford Credit Floorplan Master
Owner Trust, Series 2010-3, Class C
4.990%, 02/15/2017 (S) 4,490,000 4,567,699
GE Capital Credit Card Master Note Trust
Series 2012-2, Class A,
       2.220%, 01/15/2022 5,465,000 5,431,166
Series 2009-4, Class C,
       7.820%, 11/15/2017 (S) 870,000 877,767
GreatAmerica Leasing Receivables,
Series 2014-1, Class A4
1.470%, 08/15/2020 (S) 1,640,000 1,630,052
GSAA Home Equity Trust
Series 2007-7, Class 2A1,
       0.200%, 07/25/2037 (P) 1,623,627 1,431,394
Series 2005-11, Class 2A1,
       0.435%, 10/25/2035 (P) 587,426 549,096
Series 2005-MTR1, Class A4,
       0.525%, 10/25/2035 (P) 4,579,991 4,374,602
GSAA Trust, Series 2005-8, Class A3
0.585%, 06/25/2035 (P) 2,648,253 2,502,726
HOA Funding LLC, Series 2014-1A,
Class A2 4.846%, 08/20/2044 (S) 2,050,000 2,040,718
HSI Asset Securitization Corp. Trust,
Series 2007-WF1, Class 2A3
0.325%, 05/25/2037 (P) 1,492,892 1,392,435
Huntington Auto Trust  
Series 2011-1A, Class B,
       1.840%, 01/17/2017 (S) 455,000 459,656
Series 2011-1A, Class C,
       2.530%, 03/15/2017 (S) 2,160,000 2,191,303
Hyundai Auto Lease Securitization Trust,
Series 2012-A, Class A4
1.050%, 04/17/2017 (S) 1,400,000 1,400,575
Invitation Homes Trust,
Series 2013-SFR1, Class A
1.400%, 12/17/2030 (P)(S) 1,224,012 1,225,135
Kubota Credit Owner Trust,
Series 2014-1A, Class A4
1.670%, 07/15/2020 (S) 5,075,000 5,035,445
Mercedes-Benz Auto Lease Trust,
Series 2013-B, Class A4
0.760%, 07/15/2019 2,280,000 2,283,217
Motor PLC, Series 2012-A, Class A1C
1.286%, 02/25/2020 (S) 401,310 401,501
MVW Owner Trust
2.150%, 04/22/2030 (S)   900,951 905,078
  Series 2014-1A, Class A,
       2.250%, 09/20/2031 (S) 555,000 554,843
Nordstrom Private Label Credit Card  
Master Note Trust, Series 2011-1A,
Class A 2.280%, 11/15/2019 (S) 6,905,000 7,027,253
Renaissance Home Equity Loan Trust,
Series 2007-1, Class AF1
5.742%, 04/25/2037 (P) 3,265,810 1,899,575
Residential Asset Mortgage Products, Inc.,
Series 2003-RZ2, Class A1
4.100%, 04/25/2033 (P) 7,240 7,028
Sierra Timeshare
Receivables Funding LLC
Series 2013-1A, Class A,
       1.590%, 11/20/2029 (S) 1,333,578 1,334,612
Series 2014-1A, Class A,
       2.070%, 03/20/2030 (S) 3,363,627 3,371,458
Series 2013-3A, Class A,
       2.200%, 10/20/2030 (S) 1,884,285 1,880,784
SMART Trust
Series 2013-1US, Class A4A,
       1.050%, 10/14/2018 1,460,000 1,453,402
Series 2012-4US, Class A4A,
       1.250%, 08/14/2018 1,885,000 1,880,715
Series 2014-1US, Class A4A,
       1.680%, 12/14/2019 2,910,000 2,891,152
Series 2011-2USA, Class A4A,
       2.310%, 04/14/2017 (S) 1,246,208 1,256,052
Terwin Mortgage Trust,
Series 2005-14HE, Class AF2
4.849%, 08/25/2036 (P) 392,356 404,764
Utility Debt Securitization Authority (New
York) 2.042%, 06/15/2021 2,010,000 1,996,714
Wheels SPV LLC, Series 2012-1,
Class A3 1.530%, 03/20/2021 (S) 1,370,000 1,380,942
TOTAL ASSET BACKED SECURITIES (Cost $127,873,780) $ 128,221,684
 
SHORT-TERM INVESTMENTS - 4.2%
Money market funds - 4.2%
T. Rowe Price Reserve Investment
Fund, 0.0487% (Y) 69,223,355 69,223,355
Repurchase agreement - 0.0%
Repurchase Agreement with State
Street Corp. dated 09/30/2014 at
0.000% to be repurchased at $824,000
on 10/01/2014, collateralized by  
$845,000 U.S. Treasury Notes, 1.500%
due 01/31/2019 (valued at $840,775,
including interest) 824,000 824,000
TOTAL SHORT-TERM INVESTMENTS (Cost $70,047,355) $ 70,047,355  
Total Investments (New Income Trust)
(Cost $1,651,542,541) - 101.6% $ 1,684,138,098
Other assets and liabilities, net - (1.6%) (26,499,810 )
TOTAL NET ASSETS - 100.0% $ 1,657,638,288
 
Real Estate Securities Trust
 
Shares or
Principal
Amount Value
COMMON STOCKS - 99.2%
Financials - 99.2%
Real estate investment trusts - 99.2%
Diversified REITs - 10.4%
Duke Realty Corp. 578,096 $ 9,931,690
Lexington Realty Trust 718,347 7,032,617
Liberty Property Trust 147,149 4,894,176
Spirit Realty Capital, Inc. 933,041 10,235,460
Vornado Realty Trust 97,014 9,697,519
41,791,462
Hotel & Resort REITs - 1.2%
DiamondRock Hospitality Company 368,404 4,671,363

The accompanying notes are an integral part of the financial statements. 176


John Hancock Variable Insurance Trust

PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)


Real Estate Securities Trust (continued)

Shares or        
Principal
Amount Value
COMMON STOCKS (continued)
Industrial REITs - 2.6%
Prologis, Inc. 280,841 $ 10,587,706
Office REITs - 14.5%
Alexandria Real Estate Equities, Inc. 105,564 7,785,345
Boston Properties, Inc. 121,456 14,059,747
Brandywine Realty Trust 314,368 4,423,158
Digital Realty Trust, Inc. 96,074 5,993,096
Douglas Emmett, Inc. 374,051 9,601,889
Hudson Pacific Properties, Inc. 149,817 3,694,487
Mack-Cali Realty Corp. 62,475 1,193,897
Parkway Properties, Inc. 83,920 1,576,018
SL Green Realty Corp. 96,376 9,764,816
58,092,453
Residential REITs - 17.1%
American Campus Communities, Inc. 33,647 1,226,433
American Residential Properties, Inc. (I) 110,676 2,029,798
Apartment Investment & Management
       Company, Class A 200,126 6,368,009
AvalonBay Communities, Inc. 148,724 20,965,622
Camden Property Trust 69,746 4,779,693
Equity Residential 201,502 12,408,493
Essex Property Trust, Inc. 77,427 13,840,076
Home Properties, Inc. 11,939 695,327
Post Properties, Inc. 118,180 6,067,361
68,380,812  
Retail REITs - 27.7%
DDR Corp. 497,412 8,321,703
Federal Realty Investment Trust 90,890 10,766,829
General Growth Properties, Inc. 615,499 14,495,001
Glimcher Realty Trust 88,141 1,193,429
National Retail Properties, Inc. 347,860 12,025,520
Pennsylvania Real Estate Investment Trust 116,526 2,323,528
Realty Income Corp. 121,627 4,961,165
Regency Centers Corp. 172,013 9,259,460
Retail Properties of America, Inc., Class A 235,477 3,445,029
Simon Property Group, Inc. 268,645 44,170,611
110,962,275
Specialized REITs - 25.7%
Chesapeake Lodging Trust 200,754 5,851,979
CubeSmart 373,453 6,714,685
Extra Space Storage, Inc. 150,440 7,758,191
HCP, Inc. 476,622 18,926,660
Health Care REIT, Inc. 147,148 9,177,621
Healthcare Realty Trust, Inc.   218,188 5,166,692
Host Hotels & Resorts, Inc. 294,515 6,282,005
Pebblebrook Hotel Trust 120,000 4,480,800
Public Storage 56,390 9,351,718
RLJ Lodging Trust 176,129 5,014,393
Senior Housing Properties Trust 186,483 3,901,224
Strategic Hotels & Resorts, Inc. (I) 414,651 4,830,684
Ventas, Inc. 247,330   15,322,094
102,778,746
TOTAL COMMON STOCKS (Cost $384,275,160) $ 397,264,817
  
SHORT-TERM INVESTMENTS - 1.0%
Repurchase agreement - 1.0%
Repurchase Agreement with State Street Corp.
       dated 09/30/2014 at 0.000% to be
       repurchased at $3,913,000 on 10/01/2014,
       collateralized by $4,040,000 U.S Treasury
       Notes, 1.250% due 11/30/2018 (valued at
       $3,994,550, including interest) $ 3,913,000   3,913,000
TOTAL SHORT-TERM INVESTMENTS (Cost $3,913,000) $ 3,913,000
Total Investments (Real Estate Securities Trust)
       (Cost $388,188,160) - 100.2%   $ 401,177,817
Other assets and liabilities, net - (0.2%)   (694,103 )
TOTAL NET ASSETS - 100.0% $ 400,483,714
 
Real Return Bond Trust

        Shares or        
Principal
Amount Value
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS - 97.1%
U.S. government - 94.3%
Treasury Inflation Protected Securities  
0.125%, 04/15/2016 to 01/15/2023 $ 22,534,701 $ 22,069,216
0.375%, 07/15/2023 921,402 911,901
0.500%, 04/15/2015 2,197,220 2,198,765
0.625%, 07/15/2021 9,192,735 9,382,335
0.750%, 02/15/2042 316,320 289,730
1.250%, 07/15/2020 1,092,340 1,160,099
1.375%, 01/15/2020 to 02/15/2044 1,982,091 2,116,852
1.625%, 01/15/2015 1,995,008 1,996,255
1.750%, 01/15/2028 3,639,264 4,054,937
1.875%, 07/15/2015 (D) 244,978 250,414
2.000%, 01/15/2016 to 01/15/2026 6,000,385 6,261,226
2.125%, 01/15/2019 2,217,820 2,423,487
2.375%, 01/15/2025 to 01/15/2027 14,383,497 16,860,063
3.375%, 04/15/2032 7,110,851 9,890,191
3.875%, 04/15/2029 2,172,960 3,069,306
82,934,777
U.S. government agency - 2.8%
Federal Home Loan Mortgage Corp.
2.500%, 10/02/2019 600,000 600,034
Federal National Mortgage Association
3.000%, 08/01/2043 1,869,570 1,846,255
2,446,289
TOTAL U.S. GOVERNMENT AND AGENCY
OBLIGATIONS (Cost $86,693,689) $ 85,381,066
           
FOREIGN GOVERNMENT
OBLIGATIONS - 12.3%
Australia - 0.7%
New South Wales Treasury Corp.
2.500%, 11/20/2035 AUD 500,000 580,516
France - 0.6%  
Government of France
0.250%, 07/25/2018 EUR 414,420 545,705
             
Germany - 3.0%
Federal Republic of Germany, Inflation
Linked Bond
0.750%, 04/15/2018 2,011,625 2,670,161

The accompanying notes are an integral part of the financial statements. 177


John Hancock Variable Insurance Trust

PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)


Real Return Bond Trust (continued)

        Shares or
Principal
Amount         Value
FOREIGN GOVERNMENT
OBLIGATIONS (continued)  
Italy - 3.6%
Republic of Italy
1.700%, 09/15/2018 EUR 402,856 $ 541,545
2.100%, 09/15/2017 to 09/15/2021 331,650 454,667
2.250%, 04/22/2017 600,408 789,362
2.350%, 09/15/2024 (S) 640,749 899,870
2.550%, 09/15/2041 216,478 297,432
5.500%, 11/01/2022 100,000 158,937
  3,141,813
Mexico - 2.1%
Government of Mexico
2.970%, 01/30/2020 (P) MXN 8,800,000 656,882
3.000%, 01/04/2018 (P) 2,900,000 217,768
4.000%, 11/08/2046 6,732,220 541,224
9.500%, 12/18/2014 5,800,000 437,455
  1,853,329
New Zealand - 0.3%
Dominion of New Zealand, Index Linked
Bond
2.000%, 09/20/2025 NZD 400,000 309,646
Spain - 2.0%
Autonomous Community of Catalonia
4.950%, 02/11/2020 EUR 100,000 140,973
Kingdom of Spain
5.400%, 01/31/2023 (S) 1,000,000 1,613,282
1,754,255
TOTAL FOREIGN GOVERNMENT
OBLIGATIONS (Cost $11,415,840) $ 10,855,425
  
CORPORATE BONDS - 8.8%
Energy - 1.8%
Petrobras Global Finance BV
2.595%, 03/17/2017 (P) $ 700,000 707,812
Sabine Pass LNG LP
  7.500%, 11/30/2016 800,000 848,080
1,555,892
Financials - 5.0%
Achmea Bank NV
3.200%, 11/03/2014 (S) 244,000 244,600
Bankia SA
3.500%, 12/14/2015 to 01/17/2019 EUR 200,000 266,732
BPE Financiaciones SA
2.500%, 02/01/2017 100,000 128,610
2.875%, 05/19/2016 100,000 129,057
Citigroup, Inc.
0.760%, 05/01/2017 (P) $ 100,000 100,204
Eksportfinans ASA
2.375%, 05/25/2016 100,000 100,120
Everest Reinsurance Holdings, Inc.
5.400%, 10/15/2014 1,000,000 1,001,721
Intesa Sanpaolo SpA
3.125%, 01/15/2016 100,000 102,294
Novo Banco SA
3.875%, 01/21/2015 EUR 100,000 119,990
Rabobank Nederland NV
4.000%, 09/10/2015 GBP 1,300,000 2,164,080
4,357,408
Industrials - 1.0%
Hellenic Railways Organization SA
4.028%, 03/17/2017 EUR 100,000 124,004
International Lease Finance Corp.
8.625%, 09/15/2015 $ 700,000 740,320
864,324
Telecommunication services - 0.9%
BellSouth Corp.
4.182%, 04/26/2015 (S) 800,000 816,409
Utilities - 0.1%
Electricite de France SA
0.694%, 01/20/2017 (P)(S) 100,000 100,143
TOTAL CORPORATE BONDS (Cost $7,805,264) $ 7,694,176
  
COLLATERALIZED MORTGAGE
OBLIGATIONS - 5.6%
Commercial and residential - 4.4%
Banc of America Large Loan, Inc.,
Series 2009-UB1, Class A4A
5.679%, 06/24/2050 (P)(S) 237,080 254,437
BCAP LLC Trust
Series 2011-RR5, Class 12A1,
       5.050%, 03/26/2037 (P)(S) 83,459 82,213
Series 2011-RR5, Class 5A1,
       5.250%, 08/26/2037 (S) 219,800 228,615
Bear Stearns Adjustable
Rate Mortgage Trust
Series 2003-3, Class 3A2,
       2.498%, 05/25/2033 (P) 90,513 91,325
Series 2005-1, Class 2A1,
       2.654%, 03/25/2035 (P) 39,586 38,661
Series 2005-1, Class 4A1,
       4.855%, 03/25/2035 (P) 219,856 216,905
CHL Mortgage Pass Through Trust
Series 2003-HYB3, Class 7A1,
       2.399%, 11/19/2033 (P) 29,571 29,206
Series 2004-J9, Class 2A5,
       5.500%, 01/25/2035 368,676 390,880
Citigroup Mortgage Loan Trust, Inc.,
Series 2005-6, Class A3
1.930%, 09/25/2035 (P) 43,132 43,282
Countrywide Alternative Loan Trust,
Series 2007-OA4, Class A1
0.325%, 05/25/2047 (P) 465,166 403,043
Credit Suisse Mortgage Capital
Certificates, Series 2009-RR1,
Class A3A 5.383%, 02/15/2040 (S) 75,089 78,852
Granite Mortgages PLC, Series 2004-3,
Class 3A2 0.946%, 09/20/2044 (P) GBP 69,803 112,958
GreenPoint Mortgage Funding Trust,
Series 2005-AR1, Class A2
0.375%, 06/25/2045 (P) $ 300,259 266,826
GSR Mortgage Loan Trust,
Series 2005-AR1, Class 1A1
2.865%, 01/25/2035 (P) 25,107 24,911
IndyMac INDA Mortgage Loan Trust,
Series 2005-AR1, Class 2A1
2.721%, 11/25/2035 (P) 72,353 65,034
JPMorgan Mortgage Trust
Series 2005-A6, Class 2A1,
       2.558%, 08/25/2035 (P) 58,274 57,779
Series 2007-A1, Class 1A1,
       2.547%, 07/25/2035 (P) 66,470 67,685

The accompanying notes are an integral part of the financial statements. 178


John Hancock Variable Insurance Trust

PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)


Real Return Bond Trust (continued)

        Shares or
Principal        
Amount Value
COLLATERALIZED MORTGAGE
OBLIGATIONS (continued)
Commercial and residential (continued)
MASTR Adjustable Rate Mortgages Trust,  
Series 2003-6, Class 2A1
2.193%, 12/25/2033 (P) $ 109,466 $ 110,792
NCUA Guaranteed Notes Trust
Series 2010-R1, Class 1A,  
       0.606%, 10/07/2020 (P) 147,844 148,606
Series 2010-R3, Class 2A,  
       0.716%, 12/08/2020 (P) 210,277 211,794
RBSCF Trust, Series 2010-RR4,
Class CMLA
6.241%, 12/16/2049 (P)(S) 91,413 97,078
Sequoia Mortgage Trust, Series 2007-3,
Class 1A1 0.354%, 07/20/2036 (P) 73,354 68,778
Structured Adjustable Rate
Mortgage Loan Trust
Series 2004-1, Class 4A2,  
       2.473%, 02/25/2034 (P) 174,739 177,034
Series 2004-18, Class 5A,
       4.123%, 12/25/2034 (P) 93,536 91,063
Series 2004-19, Class 2A1,
       1.518%, 01/25/2035 (P) 109,139 87,807
Structured Asset Mortgage
Investments, Inc., Series 2004-AR5,
Class 1A1 0.483%, 10/19/2034 (P) 141,487 134,602
WaMu Mortgage Pass-
Through Certificates
Series 2002-AR17, Class 1A,
       1.315%, 11/25/2042 (P) 21,601 21,160
Series 2005-AR10, Class 3A1,
       5.225%, 08/25/2035 (P) 9,122 8,760
Series 2005-AR15, Class A1A1,
       0.415%, 11/25/2045 (P) 144,293 135,633
Series 2006-AR17, Class 1A1A,
       0.925%, 12/25/2046 (P) 128,099 121,274
U.S. government agency - 1.2%
Federal Home Loan Mortgage Corp.
Series 278, Class F1,
       0.604%, 09/15/2042 (P) 356,015 356,207
Series 3172, Class FK,
       0.604%, 08/15/2033 (P) 144,181 144,900
Federal National Mortgage Association
Series 2003-W8, Class 3F2,
       0.505%, 05/25/2042 (P) 59,504 59,687
Series 2004-63, Class FA,
       0.305%, 08/25/2034 (P) 94,682 94,735
Series 2006-118, Class A2,
       0.222%, 12/25/2036 (P) 68,378 67,094
Series 2013-M4, Class X1 IO,
       4.085%, 02/25/2018 3,233,283 342,010
1,064,633
TOTAL COLLATERALIZED MORTGAGE
OBLIGATIONS (Cost $9,432,993) $ 4,931,626
  
ASSET BACKED SECURITIES - 3.1%
Aquilae CLO II PLC, Series 2006-1X,
Class A 0.546%, 01/17/2023 (P) EUR 77,396 97,366
Equity One Asset Backed Securities, Inc.,
Series 2004-1, Class AV2
0.455%, 04/25/2034 (P) $ 83,273 68,509
HSBC Home Equity Loan Trust,
Series 2006-2, Class A1
0.304%, 03/20/2036 (P) 64,960 64,438
HSI Asset Securitization Corp. Trust,
Series 2006-HE1, Class 2A1
0.205%, 10/25/2036 (P) 5,551 3,058
Magi Funding PLC, Series 2010-1A,
Class A 0.677%, 04/11/2021 (P)(S) EUR 153,028 192,679
Nelnet Student Loan Trust, Series 2008-4,
Class A2 0.934%, 07/25/2018 (P) $ 3,380 3,381
North Carolina State Education Assistance
Authority, Series 2011-2, Class A1
0.684%, 10/26/2020 (P) 57,646 57,718
OneMain Financial Issuance Trust,
Series 2014-2, Class A
2.470%, 09/18/2024 (S) 400,000 400,125
Park Place Securities, Inc.,
Series 2005-WCW1, Class A1B
0.415%, 09/25/2035 (P) 19,502 19,363
Penta CLO SA, Series 2007-1X, Class A1
0.614%, 06/04/2024 (P) EUR 193,661 241,009
Structured Asset Securities Corp.,
Series 2005-WF1, Class M1
0.815%, 02/25/2035 (P) $ 147,558 135,842
Symphony CLO III, Ltd., Series 2007-3A,
Class A1A 0.474%, 05/15/2019 (P)(S) 440,665 439,721
United States Small Business
Administration, Series 2008-P1-A,
Class 1 5.902%, 02/10/2018 273,261 294,315
Venture VII CDO, Ltd., Series 2006-7A,
Class A1A 0.464%, 01/20/2022 (P)(S) 550,377 541,700
Wood Street CLO BV, Series II-A,
Class A1 0.433%, 03/29/2021 (P)(S) EUR 99,728 125,174
TOTAL ASSET BACKED SECURITIES (Cost $2,638,731) $ 2,684,398
  
COMMON STOCKS - 0.0%
Financials - 0.0%
Rescap Liquidating Trust (I) 440 7,040
TOTAL COMMON STOCKS (Cost $2,266) $ 7,040
 
PURCHASED OPTIONS - 0.0%
Put options - 0.0%
Exchange Traded Option on 5 Year
U.S. Treasury Note Futures (Expiration
Date: 11/21/2014; Strike
Price: $112.50) (I) 57,000 445
Over the Counter Option on 5 Year
Interest Rate Swap. Receive a fixed rate
of 1.000% and pay a floating rate based
on 3-month LIBOR (Expiration Date:
11/10/2014; Strike Rate: 1.000%;
Counterparty: Goldman Sachs Capital
Markets LP) (I) 1,100,000 1
446
TOTAL PURCHASED OPTIONS (Cost $15,834) $ 446
  
CERTIFICATE OF DEPOSIT - 4.0%
Banco Bilbao Vizcaya Argentaria SA
0.975%, 10/23/2015 $ 1,500,000 $ 1,499,681
Banco do Brasil SA
1.210%, 06/29/2015 900,000 900,053
Banco Itau BBA International SA
1.000%, 06/04/2015 300,000 299,957

The accompanying notes are an integral part of the financial statements. 179


John Hancock Variable Insurance Trust

PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)


Real Return Bond Trust (continued)

       

Shares or

Principal

        

Amount

Value
CERTIFICATE OF DEPOSIT (continued)
Intesa Sanpaolo SpA
1.650%, 04/07/2015 $ 800,000 $ 802,821
TOTAL CERTIFICATE OF DEPOSIT (Cost $3,500,310) $ 3,502,512
       
SHORT-TERM INVESTMENTS - 60.5%  
U.S. government - 1.1%
U.S. Treasury Bills
0.041%, 03/12/2015 (D)* 300,000 299,963  
0.137%, 03/05/2015 (D)* 710,000 709,896
        1,009,859
Foreign government - 10.1%
Government of Mexico
2.902%, 12/11/2014 * MXN 31,000,000   2,294,769
2.955%, 01/08/2015 *   12,000,000 886,269
Republic of Greece  
1.741%, 10/17/2014 * EUR 2,600,000 3,282,207
1.998%, 02/06/2015 * 600,000 754,351
2.028%, 01/09/2015 * 1,300,000 1,636,260
8,853,856

Repurchase agreement - 49.3%

Repurchase Agreement with Bank of
Nova Scotia dated 09/30/2014 at
0.000% to be repurchased at $8,700,000
on 10/01/2014, collateralized by
$8,812,000 U.S. Treasury Notes,
2.250% due 07/31/2021 (valued at
$8,890,302, including interest)  $ 8,700,000 8,700,000
Repurchase Agreement with Credit Suisse
dated 09/30/2014 at 0.000% to be
repurchased at $8,700,000 on
10/01/2014, collateralized by
$8,740,000 U.S. Treasury Notes,
1.750% due 07/31/2015 (valued at
$8,886,552, including interest) 8,700,000 8,700,000
Repurchase Agreement with Deutsche
Bank dated 09/30/2014 at 0.000% to be
repurchased at $8,700,000 on
10/01/2014, collateralized by
$7,892,000 U.S. Treasury Bonds,
3.750% due 11/15/2043 (valued at
$8,908,095, including interest). 8,700,000 8,700,000
Repurchase Agreement with JPMorgan
Chase & Company dated 09/30/2014 at
0.000% to be repurchased at $3,700,000
on 10/01/2014, collateralized by
$3,837,000 U.S. Treasury Notes,
0.750% due 12/31/2017 (valued at
$3,786,639, including interest) 3,700,000 3,700,000
Repurchase Agreement with State
Street Corp. dated 09/30/2014 at
0.000% to be repurchased at
$13,532,000 on 10/01/2014,
collateralized by $13,550,000
U.S. Treasury Notes, 1.500% - 3.625%
due 01/31/2019 to 08/15/2019 (valued
at $13,807,575, including interest) 13,532,000   13,532,000
43,332,000
TOTAL SHORT-TERM INVESTMENTS (Cost $53,689,712) $ 53,195,715
Total Investments (Real Return Bond Trust)
(Cost $175,194,639) - 191.4% $ 168,252,404
Other assets and liabilities, net - (91.4%) (80,340,998 )
TOTAL NET ASSETS - 100.0% $ 87,911,406

Science & Technology Trust

Shares or         
Principal
Amount Value
COMMON STOCKS - 95.1%
Consumer discretionary - 13.3%
Automobiles - 2.0%  
Tesla Motors, Inc. (I) 37,850 $ 9,185,438
Household durables - 0.8%
Harman International Industries, Inc. 18,885 1,851,485
iRobot Corp. (I)(L) 68,200 2,076,690
3,928,175
Internet and catalog retail - 9.3%
Amazon.com, Inc. (I) 56,860 18,333,938
Coupons.com, Inc. (I)(L) 38,522 460,723
Ctrip.com International, Ltd., ADR (I) 49,900 2,832,324
HomeAway, Inc. (I) 101,700 3,610,350
JD.com, Inc., ADR (I)(L) 15,565 401,888
Netflix, Inc. (I) 6,920 3,122,166
The Priceline Group, Inc. (I) 7,455 8,637,214
Vipshop Holdings, Ltd., ADR (I)(L) 30,960 5,851,750
43,250,353
Media - 1.2%
Liberty Global PLC, Series C (I) 101,000 4,142,515
Twenty-First Century Fox, Inc., Class A 43,700 1,498,473
5,640,988
62,004,954
Financials - 0.2%
Real estate investment trusts - 0.2%
American Tower Corp. 11,465 1,073,468
Health care - 3.7%
Health care equipment and supplies - 1.4%
Intuitive Surgical, Inc. (I) 10,500 4,849,110
Stryker Corp. 20,000 1,615,000
6,464,110
Health care technology - 1.1%
Veeva Systems, Inc., Class A (I)(L) 177,760 5,007,499

The accompanying notes are an integral part of the financial statements. 180


John Hancock Variable Insurance Trust

PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)


Science & Technology Trust (continued)

Shares or        
Principal
Amount Value
COMMON STOCKS (continued)
Life sciences tools and services - 0.6%
Agilent Technologies, Inc. 51,000   $ 2,905,980
Pharmaceuticals - 0.6%  
Hospira, Inc. (I) 54,600 2,840,838
17,218,427
Industrials - 1.6%
Aerospace and defense - 0.6%
The Boeing Company 22,300 2,840,574
Construction and engineering - 0.5%
Quanta Services, Inc. (I) 65,900 2,391,511
Electrical equipment - 0.5%
Nidec Corp. 35,200 2,378,714
7,610,799
Information technology - 73.6%
Communications equipment - 3.6%
Aruba Networks, Inc. (I) 83,000 1,791,140
Cisco Systems, Inc. 219,330 5,520,536
F5 Networks, Inc. (I) 29,510 3,504,017
JDS Uniphase Corp. (I) 109,800 1,405,440
Palo Alto Networks, Inc. (I) 23,110 2,267,091
QUALCOMM, Inc. 28,930 2,163,096
16,651,320
Electronic equipment, instruments and components - 2.9%
Arrow Electronics, Inc. (I) 12,725 704,329
CDW Corp. 73,905 2,294,750
Control4 Corp. (I)(L) 27,800 359,454
Flextronics International, Ltd. (I) 106,420 1,098,254
IPG Photonics Corp. (I)(L) 40,500 2,785,590
Keyence Corp. 500 217,093
Murata Manufacturing Company, Ltd. 8,200 932,056
National Instruments Corp. 73,500 2,273,355
Omron Corp. 6,100 277,233
RealD, Inc. (I)(L) 189,900 1,779,363
Trimble Navigation, Ltd. (I) 26,600 811,300
13,532,777
Internet software and services - 18.0%
Akamai Technologies, Inc. (I) 41,385 2,474,823
Alibaba Group Holding, Ltd., ADR (I) 38,800 3,447,380
Angie’s List, Inc. (I)(L) 144,716 921,841
Baidu, Inc., ADR (I) 44,420 9,693,777
Dealertrack Technologies, Inc. (I) 51,900 2,252,979
Dropbox, Inc. (I)(R) 7,441 122,107
Facebook, Inc., Class A (I) 165,045 13,045,157
Google, Inc., Class A (I) 19,105 11,241,573
Google, Inc., Class C (I) 19,390 11,195,010
GrubHub, Inc. (I) 9,802 334,458
GrubHub, Inc. (I)(L) 4,100 140,384
LinkedIn Corp., Class A (I) 30,600 6,358,374
MercadoLibre, Inc. (L) 8,700 945,255
NAVER Corp. 1,048 800,543
NetEase.com, Inc., ADR (L) 17,920 1,535,027
OPOWER, Inc. (I)(L) 3,000 56,580
Pandora Media, Inc. (I) 53,735 1,298,238
Rackspace Hosting, Inc. (I) 86,700 2,822,085
RealNetworks, Inc. (I) 9,900 68,805
Renren, Inc., ADR (I)(L) 745 2,563
SINA Corp. (I) 48,400 1,991,176
Tencent Holdings, Ltd. 76,800 1,140,916
Twitter, Inc. (I) 63,990 3,300,604
VeriSign, Inc. (I) 77,800 4,288,336
Yahoo!, Inc. (I) 30,770 1,253,878
Yandex NV, Class A (I) 68,200 1,895,619
Yelp, Inc. (I)(L) 16,260 1,109,745
Youku Tudou, Inc., Class A (I) 10 10
83,737,243
IT services - 4.2%
Accenture PLC, Class A 32,300 2,626,636
Alliance Data Systems Corp. (I) 4,670 1,159,421
AtoS 9,790 708,952
Computer Sciences Corp. 31,770 1,942,736
Fiserv, Inc. (I) 22,710 1,467,861
MasterCard, Inc., Class A 28,000 2,069,760
Visa, Inc., Class A 45,705 9,752,076
19,727,442
Semiconductors and semiconductor equipment - 13.8%
Altera Corp. 206,900 7,402,882
Applied Materials, Inc. 72,600 1,568,886
ARM Holdings PLC, ADR 78,700 3,438,403
ASML Holding NV 66,200 6,541,884
Atmel Corp. (I) 303,200 2,449,856
Avago Technologies, Ltd. 75,990 6,611,130
Broadcom Corp., Class A 48,375 1,955,318
First Solar, Inc. (I) 11,400 750,234
Freescale Semiconductor, Ltd. (I)(L) 51,590 1,007,553
Intel Corp. 3,205 111,598
Lam Research Corp. 72,900 5,445,630
MediaTek, Inc. 205,000 3,035,988
Mellanox Technologies, Ltd. (I)(L) 20,000 897,400
Micron Technology, Inc. (I) 224,270 7,683,490
NXP Semiconductor NV (I) 24,815 1,698,090
ON Semiconductor Corp. (I) 142,700 1,275,738
Semtech Corp. (I) 76,300 2,071,545
SK Hynix, Inc. (I) 42,495 1,880,873
Skyworks Solutions, Inc. 80,745 4,687,247
STR Holdings, Inc. (I) 195,300 283,185
SunPower Corp. (I)(L) 54,025 1,830,367
Taiwan Semiconductor
       Manufacturing Company, Ltd. 42,000 167,207
Texas Instruments, Inc. 33,110 1,579,016
64,373,520
Software - 15.3%
Activision Blizzard, Inc. 141,115 2,933,781
Aspen Technology, Inc. (I) 48,205 1,818,293
Atlassian, Inc. (I)(R) 2,771 44,336
Atlassian, Inc., Class A (I)(R) 1,909 30,544
Atlassian, Inc., Class A Ordinary (I)(R) 9,968 159,488
Atlassian, Inc., Series 1 (I)(R) 4,864 77,824
Atlassian, Inc., Series 2 (I)(R) 13,022 208,352
Atlassian, Inc., Series A (I)(R) 9,630 154,080
Autodesk, Inc. (I) 135,662 7,474,976
Check Point Software Technologies, Ltd. (I)(L) 50,200 3,475,848
FireEye, Inc. (I)(L) 81,195 2,481,319
FleetMatics Group PLC (I)(L) 24,800 756,400
Informatica Corp. (I) 7,040 241,050
Interactive Intelligence Group, Inc. (I) 30,000 1,254,000
Intuit, Inc. 33,965 2,977,032
Microsoft Corp. 545,100 25,270,836
NetSuite, Inc. (I)(L) 14,800 1,325,192
Nintendo Company, Ltd. 3,300 359,463
Oracle Corp. 60,595 2,319,577
Red Hat, Inc. (I) 162,100 9,101,915

The accompanying notes are an integral part of the financial statements. 181


John Hancock Variable Insurance Trust

PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)


Science & Technology Trust (continued)

Shares or
Principal
Amount         Value
COMMON STOCKS (continued)  
Software (continued)  
Salesforce.com, Inc. (I) 26,555   $ 1,527,709  
ServiceNow, Inc. (I) 106,615 6,266,830
Tableau Software, Inc., Class A (I) 17,020 1,236,503
    71,495,348
Technology hardware, storage and peripherals - 15.8%
Apple, Inc. 229,720 23,144,290
Dell, Inc. 458,900 6,654,157
EMC Corp. 82,535 2,414,974
Hewlett-Packard Company 189,035 6,705,071
Lenovo Group, Ltd. 427,000 636,013
NEC Corp. 16,000 55,302
SanDisk Corp. 107,970 10,575,662
Seagate Technology PLC 84,570 4,843,324
Stratasys, Ltd. (I)(L)   30,800 3,720,024
Western Digital Corp. 150,495 14,646,173
73,394,990
342,912,640
Telecommunication services - 2.7%
Diversified telecommunication services - 0.3%  
China Unicom Hong Kong, Ltd. 876,000 1,313,776
Wireless telecommunication services - 2.4%
SBA Communications Corp., Class A (I) 9,340   1,035,806
SoftBank Corp. 69,200 4,833,541
T-Mobile US, Inc. (I) 177,600 5,127,312
10,996,659
12,310,435
TOTAL COMMON STOCKS (Cost $371,735,133) $ 443,130,723
 
PREFERRED SECURITIES - 0.5%
Information technology - 0.5%
Internet software and services - 0.4%
Dropbox, Inc., Series A (I)(R) 9,241 151,645
Dropbox, Inc., Series A1 (I)(R) 89,006 1,460,588
1,612,233
Software - 0.1%
Cloudera, Inc., Series F (I)(R) 21,227 590,705
2,202,938
TOTAL PREFERRED SECURITIES (Cost $1,198,112) $ 2,202,938
 
SECURITIES LENDING COLLATERAL - 5.8%
John Hancock Collateral
       Investment Trust, 0.1178% (W)(Y) 2,702,489 27,044,081
TOTAL SECURITIES LENDING
COLLATERAL (Cost $27,044,025) $ 27,044,081
 
SHORT-TERM INVESTMENTS - 4.5%
Money market funds - 2.0%
State Street Institutional U.S. Government
       Money Market Fund, 0.0000% (Y) $ 1,435,140 $ 1,435,140
T.Rowe Price Prime Reserve
       Fund, 0.0487% (Y) 8,131,421 8,131,421
9,566,561
Repurchase agreement - 2.5%  
Repurchase Agreement with State Street Corp.
       dated 09/30/2014 at 0.000% to be
       repurchased at $11,607,000 on 10/01/2014,
       collateralized by $11,975,000 U.S. Treasury
       Notes, 1.250% due 11/30/18 (valued at
       $11,840,281, including interest) 11,607,000   11,607,000
TOTAL SHORT-TERM INVESTMENTS (Cost $21,173,561) $ 21,173,561
Total Investments (Science & Technology Trust)
       (Cost $421,150,831) - 105.9% $ 493,551,303
Other assets and liabilities, net - (5.9%) (27,408,164 )
TOTAL NET ASSETS - 100.0% $ 466,143,139

Short Term Government Income Trust

Shares or
Principal
Amount         Value
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS - 96.5%
U.S. government - 19.0%
U.S. Treasury Notes
       0.625%, 08/31/2017 to 04/30/2018 $ 11,560,000 $ 11,328,218
       0.750%, 06/30/2017 to 03/31/2018 20,120,000 19,909,700
       0.875%, 02/28/2017 to 01/31/2018 41,395,000 41,197,083
    72,435,001
U.S. government agency - 77.5%
Federal Agricultural Mortgage Corp.
       2.000%, 07/27/2016 21,099,000 21,623,859
       5.125%, 04/19/2017 (S) 38,823,000 42,743,579
Federal Farm Credit Bank
       0.570%, 08/11/2016 11,330,000 11,308,802
       0.900%, 12/26/2017   3,890,000 3,861,852
       0.970%, 09/05/2017 5,090,000 5,072,898
       0.980%, 05/08/2017 2,400,000 2,396,088
       1.100%, 06/20/2017 5,340,000   5,340,577
       1.240%, 11/13/2018 18,275,000 17,929,182
       2.230%, 12/26/2019 2,185,000 2,178,508
Federal Home Loan Bank
       1.000%, 09/18/2017 to 10/16/2017 16,555,000 16,408,515
       1.130%, 03/27/2018 9,000,000 8,854,398
       1.150%, 07/25/2018 9,910,000 9,723,266
Federal Home Loan Mortgage Corp.
       1.100%, 06/30/2017 to 05/07/2018 12,595,000 12,410,502
       1.200%, 03/20/2018 4,415,000 4,397,954
       1.250%, 08/21/2017 3,500,000 3,493,399
       2.214%, 09/01/2042 (P) 1,519,203 1,558,540
       2.621%, 01/01/2044 (P) 3,147,413 3,232,519
       3.032%, 03/01/2044 (P) 1,690,102 1,745,564
       3.467%, 09/01/2039 (P) 564,272 604,829
       5.500%, 07/01/2037 to 07/01/2040 6,336,309 7,085,339
       6.500%, 09/01/2039 746,856 835,864
       7.000%, 04/01/2018 to 04/01/2032 5,423 5,958
       12.000%, 07/01/2020 160 163
Federal National Mortgage Association
       0.520%, 05/20/2016 10,555,000 10,544,044
       0.625%, 11/14/2016 3,360,000 3,348,727
       0.850%, 08/07/2017 4,500,000 4,459,572
       1.000%, 12/12/2017 to 12/28/2017 13,630,000 13,416,378
       2.353%, 09/01/2041 (P) 3,560,155 3,694,056

The accompanying notes are an integral part of the financial statements. 182


John Hancock Variable Insurance Trust

PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)


Short Term Government Income Trust (continued)

Shares or
Principal
Amount         Value
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS (continued)
U.S. government agency (continued)
Federal National Mortgage
Association (continued)
       2.403%, 04/01/2042 (P) $ 3,967,104 $ 4,119,266
       2.487%, 02/01/2042 (P) 5,742,018     5,969,500
       2.500%, 10/01/2027 3,660,907 3,696,229
       2.910%, 03/01/2044 (P) 1,523,334 1,570,079
       3.500%, 12/01/2025 2,321,922 2,446,454
       5.500%, 03/01/2035 to 08/01/2040 5,415,828 6,058,861
       6.000%, 10/01/2036 to 03/01/2037 1,195,985 1,350,024
       6.500%, 06/01/2029 to 01/01/2039 6,801,046 7,687,023
       7.000%, 08/01/2025 to 01/01/2029 4,131 4,771
       7.500%, 01/01/2031 713 850
       8.000%, 11/01/2020 to 01/01/2031 3,151 3,688
       11.500%, 09/01/2019   331 346
       12.000%, 01/15/2016 to 04/20/2016 2,591 2,663
       12.500%, 09/20/2015 144 147
Government National Mortgage Association
       6.000%, 01/20/2039 372,085 416,604
       7.500%, 02/15/2022 to 03/15/2027 828 960
Tennessee Valley Authority
       1.750%, 10/15/2018 6,485,000 6,491,790
       4.500%, 04/01/2018 10,349,000 11,403,573
       4.875%, 12/15/2016 13,923,000 15,137,615
       5.500%, 07/18/2017 9,413,000 10,550,881
        295,186,256
TOTAL U.S. GOVERNMENT AND AGENCY
OBLIGATIONS (Cost $367,756,666) $ 367,621,257
  
COLLATERALIZED MORTGAGE
OBLIGATIONS - 1.9%
U.S. government agency - 1.9%
Federal Home Loan Mortgage Corp.
       Series 3499, Class PA, 4.500%, 08/15/2036 197,166 205,314
       Series K017, Class X1 IO,
              1.585%, 12/25/2021 5,599,085 456,023
       Series K018, Class X1 IO,
              1.592%, 01/25/2022 4,847,559 397,451
       Series K022, Class X1 IO,
              1.426%, 07/25/2022 6,697,840 532,726
       Series K026, Class X1 IO,
              1.174%, 11/25/2022 5,845,582 395,442
       Series K038, Class X1 IO,
              1.357%, 03/25/2024 8,833,467 782,751
       Series K704, Class X1 IO,
              2.154%, 08/25/2018 19,098,248 1,262,910
       Series K706, Class X1 IO,
              1.724%, 10/25/2018 6,159,834 345,240
       Series K707, Class X1 IO,
              1.687%, 12/25/2018 4,997,022 282,502
       Series K709, Class X1 IO,
              1.670%, 03/25/2019 6,646,993 391,328
       Series K710, Class X1 IO,
              1.910%, 05/25/2019 5,252,251 366,103
       Series K711, Class X1 IO,
              1.830%, 07/25/2019 7,882,170 536,090
Federal National Mortgage Association,
       Series 2003-W14, Class 2A
       3.458%, 01/25/2043 (P) 786,073 820,233
Government National Mortgage Association,  
       Series 2012-114, Class IO
       1.031%, 01/16/2053 3,855,467 331,798
        7,105,911
TOTAL COLLATERALIZED MORTGAGE
OBLIGATIONS (Cost $6,725,203) $ 7,105,911
       
SHORT-TERM INVESTMENTS - 0.7%
Repurchase agreement - 0.7%
Barclays Tri-Party Repurchase Agreement
       dated 09/30/2014 at 0.000% to be
       repurchased at $1,955,000 on 10/01/2014,
       collateralized by $959,500 U.S. Treasury
       Inflation Index Bonds, 3.875% due
       04/15/2029 (valued at $1,994,302,
       including interest) 1,955,000 1,955,000
Repurchase Agreement with State Street Corp.
       dated 09/30/2014 at 0.000% to be
       repurchased at $544,000 on 10/01/2014,
       collateralized by $560,000 U.S. Treasury
       Notes, 1.500% due 01/31/2019 (valued at
       $557,200, including interest) 544,000 544,000
        2,499,000
TOTAL SHORT-TERM INVESTMENTS (Cost $2,499,000) $ 2,499,000
Total Investments (Short Term Government Income Trust)
       (Cost $376,980,869) - 99.1% $ 377,226,168
Other assets and liabilities, net - 0.9% 3,532,490
TOTAL NET ASSETS - 100.0% $ 380,758,658

Small Cap Growth Trust

Shares or
Principal
Amount Value
COMMON STOCKS - 92.0%
Consumer discretionary - 14.9%
Auto components - 1.7%
Gentherm, Inc. (I) 77,065 $ 3,254,455
Tenneco, Inc. (I) 103,487 5,413,405
  8,667,860
Hotels, restaurants and leisure - 4.7%
Bloomin’ Brands, Inc. (I) 190,856   3,500,299
Buffalo Wild Wings, Inc. (I) 38,116 5,117,835
Diamond Resorts International, Inc. (I) 251,975 5,734,951
Panera Bread Company, Class A (I) 26,746 4,352,109
Red Robin Gourmet Burgers, Inc. (I) 81,230 4,621,987
23,327,181
Household durables - 1.4%  
Standard Pacific Corp. (I) 616,683 4,618,956
Taylor Morrison Home Corp., Class A (I) 153,255 2,485,796
7,104,752
Internet and catalog retail - 2.0%
HSN, Inc. 100,062 6,140,805
Zalando SE (I) 11,490 312,018

The accompanying notes are an integral part of the financial statements. 183


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Small Cap Growth Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Internet and catalog retail (continued)
zulily, Inc., Class A (I)(L) 96,300 $ 3,648,807
10,101,630
Media - 1.1%
IMAX Corp. (I)(L) 199,768 5,485,629
Multiline retail - 0.9%
Tuesday Morning Corp. (I)(L) 217,567 4,221,888
Textiles, apparel and luxury goods - 3.1%
Kate Spade & Company (I) 53,070 1,392,026
Samsonite International SA 1,577,700 5,065,356
Skechers U.S.A., Inc., Class A (I) 82,361 4,390,665
Vince Holding Corp. (I) 156,309 4,729,910
15,577,957
74,486,897
Consumer staples - 0.9%
Household products - 0.9%
Spectrum Brands Holdings, Inc. 50,625 4,583,081
Energy - 3.1%    
Oil, gas and consumable fuels - 3.1%  
Athlon Energy, Inc. (I) 96,522 5,620,476
Diamondback Energy, Inc. (I) 66,223 4,952,156
Laredo Petroleum, Inc. (I)(L) 18,007 403,537
RSP Permian, Inc. (I) 182,138 4,655,447
15,631,616
Financials - 7.2%
Banks - 1.1%
PacWest Bancorp 137,636 5,674,732
Capital markets - 2.7%
Financial Engines, Inc. (L) 52,022 1,779,933
HFF, Inc., Class A 173,289 5,016,717
Virtus Investment Partners, Inc. 24,512 4,257,734
WisdomTree Investments, Inc. (I)(L) 213,673 2,431,599
13,485,983
Diversified financial services - 0.3%
WL Ross Holding Corp. (I) 152,100 1,628,991
Insurance - 0.6%
Assured Guaranty, Ltd. 124,533 2,759,651
Real estate investment trusts - 1.3%
Douglas Emmett, Inc. 122,900 3,154,843
Pebblebrook Hotel Trust 93,162 3,478,669
6,633,512
Real estate management and development - 1.2%
Kennedy-Wilson Holdings, Inc. 238,630 5,717,575
35,900,444
Health care - 19.8%
Biotechnology - 7.7%
Alnylam Pharmaceuticals, Inc. (I) 50,002 3,905,156
Anacor Pharmaceuticals, Inc. (I)(L) 133,947 3,277,683
BioCryst Pharmaceuticals, Inc. (I)(L) 194,942 1,906,533
Cepheid, Inc. (I) 78,900 3,473,967
Cubist Pharmaceuticals, Inc. (I) 76,551 5,078,393
Hyperion Therapeutics, Inc. (I)(L) 100,771 2,541,445
Ironwood Pharmaceuticals, Inc. (I) 158,095 2,048,121
NPS Pharmaceuticals, Inc. (I) 114,174 2,968,524
Portola Pharmaceuticals, Inc. (I) 140,840 3,560,435
PTC Therapeutics, Inc. (I)(L) 58,459 2,572,781
Seattle Genetics, Inc. (I)(L) 98,042 3,645,202
TESARO, Inc. (I)(L) 118,101 3,179,279
38,157,519
Health care equipment and supplies - 3.6%
DexCom, Inc. (I) 149,443 5,976,226
HeartWare International, Inc. (I)(L) 75,414 5,854,389
Insulet Corp. (I) 169,761 6,255,693
18,086,308
Health care providers and services - 4.3%
Acadia Healthcare Company, Inc. (I)(L) 138,928 6,738,008
Envision Healthcare Holdings, Inc. (I) 168,122 5,830,471
ExamWorks Group, Inc. (I) 158,270 5,183,343
Team Health Holdings, Inc. (I) 64,601 3,746,212
21,498,034
Health care technology - 1.3%
Veeva Systems, Inc., Class A (I)(L) 225,520 6,352,898
Life sciences tools and services - 1.0%
Covance, Inc. (I) 64,957 5,112,116
Pharmaceuticals - 1.9%
Aerie Pharmaceuticals, Inc. (I) 71,847 1,486,514
Intersect ENT, Inc. (I) 58,200 902,100
Salix Pharmaceuticals, Ltd. (I) 31,410 4,907,498
The Medicines Company (I) 102,339 2,284,206
9,580,318
98,787,193
Industrials - 20.8%
Aerospace and defense - 4.0%
Astronics Corp. (I) 54,325 2,590,226
DigitalGlobe, Inc. (I) 170,938 4,871,733
Moog, Inc., Class A (I) 49,927 3,415,007
Orbital Sciences Corp. (I) 194,974 5,420,277
Teledyne Technologies, Inc. (I) 37,539 3,529,041
19,826,284
Airlines - 1.0%
Spirit Airlines, Inc. (I) 69,185 4,783,451
Commercial services and supplies - 0.7%
Clean Harbors, Inc. (I) 67,855 3,658,742
Construction and engineering - 1.3%
AECOM Technology Corp. (I) 199,343 6,727,826
Electrical equipment - 2.3%
Acuity Brands, Inc. 61,061 7,187,490
Generac Holdings, Inc. (I)(L) 112,080 4,543,723
11,731,213
Machinery - 2.4%
Altra Industrial Motion Corp. 188,126 5,485,754
Watts Water Technologies, Inc., Class A 111,773 6,510,777
11,996,531
Professional services - 1.8%
TrueBlue, Inc. (I) 231,032 5,835,868
WageWorks, Inc. (I) 71,677 3,263,454
9,099,322
Road and rail - 3.5%
Landstar System, Inc. 99,516 7,184,060
Old Dominion Freight Line, Inc. (I) 73,120 5,165,197
Swift Transportation Company (I) 245,293 5,146,247
17,495,504

The accompanying notes are an integral part of the financial statements.

184



John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Small Cap Growth Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Trading companies and distributors - 3.8%  
Applied Industrial Technologies, Inc. 126,789 $ 5,787,918
HD Supply Holdings, Inc. (I) 260,402 7,098,559
WESCO International, Inc. (I) 76,879 6,016,551
18,903,028
104,221,901
Information technology - 23.1%
Communications equipment - 0.7%
Ubiquiti Networks, Inc. (I)(L) 97,024 3,641,311
Electronic equipment, instruments and components - 1.2%
Cognex Corp. (I) 144,587 5,822,518
Internet software and services - 7.0%
Constant Contact, Inc. (I) 187,227 5,081,341
CoStar Group, Inc. (I) 31,239   4,858,914
Dealertrack Technologies, Inc. (I) 77,774 3,376,169
Demandware, Inc. (I) 47,440 2,415,645
Envestnet, Inc. (I) 63,418 2,853,810
Marketo, Inc. (I)(L) 115,286 3,723,738
Shutterstock, Inc. (I)(L) 66,343 4,735,563
Xoom Corp. (I) 166,752   3,660,206
Yelp, Inc. (I) 61,800 4,217,850
34,923,236
IT services - 5.6%
Heartland Payment Systems, Inc. 135,423 6,462,386
MAXIMUS, Inc. 71,715 2,877,923
Virtusa Corp. (I) 168,505 5,992,038
WEX, Inc. (I) 59,902 6,608,389
WNS Holdings, Ltd., ADR (I) 266,489 5,998,667
27,939,403
Semiconductors and semiconductor equipment - 3.8%
Freescale Semiconductor, Ltd. (I)(L) 151,505 2,958,893
Lattice Semiconductor Corp. (I) 251,998 1,889,985
Power Integrations, Inc. 78,088 4,209,724
Silicon Laboratories, Inc. (I) 49,611 2,016,191
SunEdison, Inc. (I) 200,366 3,782,910
SunPower Corp. (I)(L) 129,680 4,393,558
19,251,261
Software - 4.3%
FleetMatics Group PLC (I)(L) 125,101 3,815,581
PTC, Inc. (I) 112,670 4,157,523
Telogis, Inc. (I)(R) 473,646 634,686
Tyler Technologies, Inc. (I) 66,103 5,843,505
Verint Systems, Inc. (I) 128,072 7,122,084
21,573,379
Technology hardware, storage and peripherals - 0.5%
Nimble Storage, Inc. (I) 100,280 2,604,272
115,755,380
Materials - 2.2%
Chemicals - 1.3%
Platform Specialty Products Corp. (I) 266,863 6,676,912
Construction materials - 0.9%
Headwaters, Inc. (I) 334,773 4,198,053
10,874,965
TOTAL COMMON STOCKS (Cost $417,494,377) $ 460,241,477
 
PREFERRED SECURITIES - 5.5%
Consumer discretionary - 3.4%
Mobileye (I) 333,270 16,932,651
Industrials - 0.3%
Veracode, Inc. (I)(R) 65,609 1,211,529
Information technology - 1.8%
Apigee Corp., Series H (I)(R) 628,505 1,828,950
Cloudera, Inc., Series F (I)(R) 79,228 2,204,757
DocuSign, Inc., Series B (I)(R) 2,936 34,997
DocuSign, Inc., Series B1 (I)(R) 880 10,490
DocuSign, Inc., Series D (I)(R) 2,110 25,151
DocuSign, Inc., Series E (I)(R) 54,573 650,510
Nutanix, Inc. (I)(R) 87,010 1,165,629
Pure Storage, Inc., Series F (I)(R) 88,922 1,398,378
Telogis, Inc. (I)(R) 645,027 1,857,678
9,176,540
TOTAL PREFERRED SECURITIES (Cost $11,298,601) $ 27,320,720
 
SECURITIES LENDING COLLATERAL - 9.5%
John Hancock Collateral
       Investment Trust, 0.1178% (W)(Y) 4,724,539 47,278,930
TOTAL SECURITIES LENDING
COLLATERAL (Cost $47,278,980) $ 47,278,930
 
SHORT-TERM INVESTMENTS - 2.7%
Repurchase agreement - 2.7%
Societe Generale SA Tri-Party Repurchase
       Agreement dated 09/30/2014 at 0.001% to
       be repurchased at $13,600,000 on
       10/01/2014, collateralized by $3,546,900
       U.S. Treasury Notes, 4.250% due
       11/15/2014 (valued at $3,621,979, including
       interest) and $9,341,000 U.S. Treasury
       Bonds, 2.750% - 8.750% due 05/15/2020 to
       11/15/2042 (valued at $10,250,055,
       including interest) $ 13,600,000 $ 13,600,000
TOTAL SHORT-TERM INVESTMENTS (Cost $13,600,000) $ 13,600,000
Total Investments (Small Cap Growth Trust)
       (Cost $489,671,958) - 109.7% $ 548,441,127
Other assets and liabilities, net - (9.7%) (48,279,494 )
TOTAL NET ASSETS - 100.0% $ 500,161,633
 
Small Cap Index Trust
 
  Shares or
Principal
Amount Value
COMMON STOCKS - 96.3%
Consumer discretionary - 12.7%
Auto components - 1.1%
American Axle &
       Manufacturing Holdings, Inc. (I) 16,951 $ 284,268
Cooper Tire & Rubber Company 15,908 456,560
Cooper-Standard Holding, Inc. (I)   3,455 215,592
Dana Holding Corp. 39,292 753,228
Dorman Products, Inc. (I)(L) 6,768 271,126
Drew Industries, Inc. 5,948 250,946
Federal-Mogul Holdings Corp. (I) 7,288 108,373
Fox Factory Holding Corp. (I) 2,751 42,641
Fuel Systems Solutions, Inc. (I) 3,566 31,773
Gentherm, Inc. (I) 8,840 373,313
Modine Manufacturing Company (I) 11,907 141,336

The accompanying notes are an integral part of the financial statements.

185



John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Small Cap Index Trust (continued)

Shares or
Principal
Amount         Value
COMMON STOCKS (continued)
Auto components (continued)
Motorcar Parts of America, Inc. (I) 3,777 $ 102,772
Remy International, Inc. 3,561 73,107
Shiloh Industries, Inc. (I) 2,064 35,109
Spartan Motors, Inc. 8,640 40,349
Standard Motor Products, Inc. 4,959 170,738
Stoneridge, Inc. (I) 7,081 79,803
Strattec Security Corp. 867 70,530
Superior Industries International, Inc. 5,894 103,322
Tenneco, Inc. (I) 15,257 798,094
Tower International, Inc. (I) 5,175 130,358
4,533,338
Automobiles - 0.0%
Winnebago Industries, Inc. (I) 6,889 149,974
Distributors - 0.2%
Core-Mark Holding Company, Inc. 5,760 305,510
Pool Corp. 11,274 607,894
VOXX International Corp. (I) 4,801 44,649
Weyco Group, Inc. 1,601 40,201
998,254
Diversified consumer services - 0.9%
2U, Inc. (I)(L) 2,514 39,193
American Public Education, Inc. (I) 4,399 118,729
Ascent Capital Group, Inc., Class A (I) 3,479 209,436
Bridgepoint Education, Inc. (I) 4,191 46,772
Bright Horizons Family Solutions, Inc. (I) 7,694 323,610
Capella Education Company 2,726 170,648
Career Education Corp. (I) 17,224 87,498
Carriage Services, Inc. 3,912 67,795
Chegg, Inc. (I)(L) 18,207 113,612
Collectors Universe, Inc. 1,723 37,906
Education Management Corp. (I) 5,432 5,921
Grand Canyon Education, Inc. (I) 11,694 476,764
Houghton Mifflin Harcourt Company (I) 27,330 531,295
ITT Educational Services, Inc. (I)(L) 5,942 25,491
K12, Inc. (I)(L) 8,595 137,176
Liberty Tax, Inc. (I) 956 30,879
LifeLock, Inc. (I) 20,213 288,844
Regis Corp. 11,067 176,629
Sotheby’s 15,274 545,587
Steiner Leisure, Ltd. (I) 3,668 137,880
Strayer Education, Inc. (I) 2,707 162,095
Universal Technical Institute, Inc. 5,413 50,612
Weight Watchers International, Inc. (I)(L) 6,887 188,979
3,973,351
Hotels, restaurants and leisure - 2.9%
Belmond, Ltd., Class A (I) 24,212 282,312
Biglari Holdings, Inc. (I) 433 147,116
BJ’s Restaurants, Inc. (I) 5,930 213,421
Bloomin’ Brands, Inc. (I) 19,352 354,916
Bob Evans Farms, Inc. 6,189 292,987
Boyd Gaming Corp. (I) 19,346 196,555
Bravo Brio Restaurant Group, Inc. (I) 4,814 62,438
Buffalo Wild Wings, Inc. (I) 4,738 636,171
Caesars Acquisition Company, Class A (I)(L) 11,487 108,782
Caesars Entertainment Corp. (I)(L) 12,917 162,496
Carrols Restaurant Group, Inc. (I) 8,840 62,852
Churchill Downs, Inc. 3,368 328,380
Chuy’s Holdings, Inc. (I) 4,072 127,820
Clubcorp Holdings, Inc. 5,497 109,006
Cracker Barrel Old Country Store, Inc. 4,766 491,804
Del Frisco’s Restaurant Group, Inc. (I)(L) 5,953 113,940
Denny’s Corp. (I) 21,896 153,929
Diamond Resorts International, Inc. (I) 8,890 202,336
DineEquity, Inc. 4,170 340,230
Einstein Noah Restaurant Group, Inc. 2,780 56,045
Empire Resorts, Inc. (I) 3,794 25,458
Famous Dave’s of America, Inc. (I) 1,171 31,523
Fiesta Restaurant Group, Inc. (I) 6,712 333,452
Ignite Restaurant Group, Inc. (I) 1,917 11,502
International Speedway Corp., Class A 6,981 220,879
Interval Leisure Group, Inc. 9,859 187,814
Intrawest Resorts Holdings, Inc. (I) 3,377 32,656
Isle of Capri Casinos, Inc. (I) 5,442 40,815
Jack in the Box, Inc. 10,053 685,514
Jamba, Inc. (I) 4,317 61,388
Krispy Kreme Doughnuts, Inc. (I) 16,353 280,617
La Quinta Holdings, Inc. (I) 11,095 210,694
Life Time Fitness, Inc. (I) 10,249 516,960
Marriott Vacations Worldwide Corp. (I) 7,103 450,401
Monarch Casino & Resort, Inc. (I) 2,399 28,572
Morgans Hotel Group Company (I) 7,345 59,274
Multimedia Games Holding Company, Inc. (I) 7,428 267,482
Nathan’s Famous, Inc. (I) 788 53,340
Noodles & Company (I) 2,819 54,097
Papa John’s International, Inc. 7,671 306,763
Papa Murphy’s Holdings, Inc. (I) 1,465 14,943
Penn National Gaming, Inc. (I) 19,598 219,694
Pinnacle Entertainment, Inc. (I) 14,942 374,895
Popeyes Louisiana Kitchen, Inc. (I) 5,956 241,218
Potbelly Corp. (I)(L) 3,702 43,165
Red Robin Gourmet Burgers, Inc. (I) 3,585 203,987
Ruby Tuesday, Inc. (I) 15,363 90,488
Ruth’s Hospitality Group, Inc. 9,045 99,857
Scientific Games Corp., Class A (I)(L) 12,718 136,973
Sonic Corp. (I) 13,616 304,454
Speedway Motorsports, Inc. 2,929 49,969
Texas Roadhouse, Inc. 17,464 486,198
The Cheesecake Factory, Inc. 12,553 571,162
The Marcus Corp. 4,506 71,195
Vail Resorts, Inc. 9,062 786,219
Zoe’s Kitchen, Inc. (I)(L) 1,411 43,402
12,040,556
Household durables - 1.1%
Beazer Homes USA, Inc. (I) 6,776 113,701
Cavco Industries, Inc. (I) 2,242 152,456
CSS Industries, Inc. 2,309 55,993
Ethan Allen Interiors, Inc. 6,369 145,213
Flexsteel Industries, Inc. 1,189   40,105
Helen of Troy, Ltd. (I) 7,159 375,991
Hovnanian Enterprises, Inc., Class A (I)(L) 29,620 108,705
Installed Building Products, Inc. (I) 2,145 30,137
iRobot Corp. (I)(L) 7,412 225,695
KB Home 20,988 313,561
La-Z-Boy, Inc. 13,120 259,645
LGI Homes, Inc. (I) 3,579   65,710
Libbey, Inc. (I) 5,436 142,749
Lifetime Brands, Inc. 2,513 38,474
M/I Homes, Inc. (I) 6,107 121,041
MDC Holdings, Inc. (L) 9,781 247,655
Meritage Homes Corp. (I) 9,801 347,936
NACCO Industries, Inc., Class A 1,216 60,472
New Home Company, (I) 2,104 28,404
Skullcandy, Inc. (I) 5,025 39,145
Standard Pacific Corp. (I) 36,267 271,640

The accompanying notes are an integral part of the financial statements.

186



John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Small Cap Index Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Household durables (continued)
The Dixie Group, Inc. (I) 3,726 $ 32,304
The Ryland Group, Inc. 11,761 390,936
TRI Pointe Homes, Inc. (I) 36,746 475,493
Turtle Beach Corp. (I) 1,763 13,487
UCP, Inc., Class A (I) 1,963 23,458
Universal Electronics, Inc. (I) 3,990 196,986
WCI Communities, Inc. (I) 3,045 56,150
William Lyon Homes, Class A (I) 4,327 95,627
4,468,869
Internet and catalog retail - 0.5%
1-800-Flowers.com, Inc., Class A (I) 6,228 44,779
Blue Nile, Inc. (I) 3,038 86,735
Coupons.com, Inc. (I) 3,111 37,208
FTD Companies, Inc. (I) 4,754 162,159
Gaiam, Inc., Class A (I) 3,757   27,576
HSN, Inc. 8,314 510,230
Lands’ End, Inc. (I) 4,101   168,633
Nutrisystem, Inc. 7,158 110,018
Orbitz Worldwide, Inc. (I) 12,866 101,255
Overstock.com, Inc. (I)(L) 2,908 49,029
PetMed Express, Inc. (L) 5,055 68,748
RetailMeNot, Inc. (I)(L) 7,771 125,579
Shutterfly, Inc. (I) 9,664 471,023
ValueVision Media, Inc., Class A (I) 10,643 54,599
2,017,571
Leisure products - 0.5%
Arctic Cat, Inc. 3,238 112,747
Black Diamond, Inc. (I)(L) 5,725 43,281
Brunswick Corp. 23,244 979,472
Callaway Golf Company 19,179 138,856
Escalade, Inc. 2,652 31,983
JAKKS Pacific, Inc. (I) 4,701 33,377
Johnson Outdoors, Inc., Class A 1,257 32,556
LeapFrog Enterprises, Inc. (I)(L) 16,399 98,230
Malibu Boats, Inc., Class A (I) 2,106 39,003
Marine Products Corp. 2,670 21,066
Nautilus, Inc. (I) 7,822 93,629
Smith & Wesson Holding Corp. (I)(L) 13,944 131,631
Sturm Ruger & Company, Inc. (L) 4,867 236,974
1,992,805
Media - 1.3%
AH Belo Corp., Class A 4,710 50,256
AMC Entertainment Holdings, Inc., Class A 5,330 122,537
Carmike Cinemas, Inc. (I) 6,067 187,956
Central European Media
       Enterprises, Ltd., Class A (I)(L) 17,737 39,908
Cinedigm Corp., Class A (I) 18,717 29,011
Crown Media Holdings, Inc., Class A (I) 8,622 27,590
Cumulus Media, Inc., Class A (I) 36,222 145,975
Daily Journal Corp. (I) 271 48,916
Dex Media, Inc. (I)(L) 3,692 35,296
Entercom Communications Corp., Class A (I) 6,190 49,706
Entravision Communications Corp., Class A 14,500 57,420
Eros International PLC (I) 5,581 81,538
Global Sources, Ltd. (I) 3,844 25,793
Gray Television, Inc. (I) 12,206 96,183
Harte-Hanks, Inc. 12,054 76,784
Hemisphere Media Group Inc (I)(L) 2,099 22,375
Journal Communications, Inc., Class A (I) 11,229 94,660
Lee Enterprises, Inc. (I)(L) 13,788 46,603
Loral Space & Communications, Inc. (I) 3,268 234,675
Martha Stewart Living
       Omnimedia, Inc., Class A (I) 7,492 26,971
MDC Partners, Inc., Class A 10,618 203,759
Media General, Inc. (I)(L) 13,660 179,083
Meredith Corp. 8,991 384,815
National CineMedia, Inc. 15,381 223,178
New Media Investment Group, Inc. 7,519 125,041
Nexstar Broadcasting Group, Inc., Class A (L) 7,727 312,325
Radio One, Inc., Class D (I) 5,801 18,447
ReachLocal, Inc. (I) 3,359 12,126
Reading International, Inc., Class A (I) 4,351 36,548
Rentrak Corp. (I) 2,462 150,034
Saga Communications, Inc., Class A 905 30,390
Salem Communications Corp., Class A 2,732 20,791
Scholastic Corp. 6,670 215,574
SFX Entertainment, Inc. (I)(L) 10,888 54,658
Sinclair Broadcast Group, Inc., Class A (L) 17,210 449,009
Sizmek, Inc. (I) 5,543 42,903
The EW Scripps Company, Class A (I)(L) 7,921 129,192
The McClatchy Company, Class A (I)(L) 14,789 49,691
The New York Times Company, Class A 34,670 388,997
Time, Inc. (I) 27,636 647,511
World Wrestling
       Entertainment, Inc., Class A (L) 7,572 104,266
5,278,491
Multiline retail - 0.1%
Burlington Stores, Inc. (I) 7,187 286,474
Fred’s, Inc., Class A 9,363 131,082
The Bon-Ton Stores, Inc. 3,668 30,664
Tuesday Morning Corp. (I)(L) 10,907 211,650
659,870
Specialty retail - 3.1%
Aeropostale, Inc. (I)(L) 19,725 64,895
America’s Car-Mart, Inc. (I) 1,948 77,121
American Eagle Outfitters, Inc. (L) 48,721 707,429
ANN, Inc. (I) 11,733 482,578
Asbury Automotive Group, Inc. (I) 7,680 494,746
Barnes & Noble, Inc. (I) 10,284 203,006
bebe stores, Inc. 7,856 18,226
Big 5 Sporting Goods Corp. 4,629 43,374
Brown Shoe Company, Inc. 10,940 296,802
Build-A-Bear Workshop, Inc. (I) 2,987 39,070
Christopher & Banks Corp. (I) 9,120 90,197
Citi Trends, Inc. (I) 3,892 86,013
Conn’s, Inc. (I)(L) 6,991 211,618
Destination Maternity Corp. 3,422 52,836
Destination XL Group, Inc. (I) 8,755 41,324
Express, Inc. (I) 21,172 330,495
Five Below, Inc. (I)(L) 13,605 538,894
Francesca’s Holdings Corp. (I)(L) 10,578 147,352
Genesco, Inc. (I) 6,006 448,949
Group 1 Automotive, Inc. 6,069 441,277
Guess?, Inc. 15,403 338,404
Haverty Furniture Companies, Inc. 5,068 110,432
hhgregg, Inc. (I)(L) 3,036 19,157
Hibbett Sports, Inc. (I)(L) 6,495 276,882
Kirkland’s, Inc. (I) 3,730 60,090
Lithia Motors, Inc., Class A 5,722 433,098
Lumber Liquidators Holdings, Inc. (I) 6,877 394,602
MarineMax, Inc. (I) 6,224 104,874
Mattress Firm Holding Corp. (I)(L) 3,772 226,546
Monro Muffler Brake, Inc. 7,900 383,387

The accompanying notes are an integral part of the financial statements.

187



John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Small Cap Index Trust (continued)

Shares or
Principal
Amount         Value
COMMON STOCKS (continued)
Specialty retail (continued)
New York & Company, Inc. (I) 7,316 $ 22,167
Office Depot, Inc. (I) 134,072 689,130
Outerwall, Inc. (I)(L) 5,074 284,651
Pacific Sunwear of California, Inc. (I) 12,432 22,378
Pier 1 Imports, Inc. 23,698 281,769
Rent-A-Center, Inc. 13,232 401,591
Restoration Hardware Holdings, Inc. (I) 7,816 621,763
Sears Hometown and Outlet Stores, Inc. (I) 2,915 45,183
Select Comfort Corp. (I) 13,585 284,198
Shoe Carnival, Inc. 3,779 67,304
Sonic Automotive, Inc., Class A 10,064 246,669
Sportsman’s Warehouse Holdings, Inc. (I) 2,437 16,413
Stage Stores, Inc. 7,936 135,785
Stein Mart, Inc. 6,923   79,961
Systemax, Inc. (I) 2,832 35,315
The Buckle, Inc. (L) 7,111 322,768
The Cato Corp., Class A 6,855   236,223
The Children’s Place Retail Stores, Inc. 5,552 264,608
The Container Store Group, Inc. (I) 4,327 94,199
The Finish Line, Inc., Class A 12,135 303,739
The Men’s Wearhouse, Inc. 12,014 567,301
The Pep Boys - Manny, Moe & Jack (I) 13,205

 

 117,657
Tile Shop Holdings, Inc. (I)(L) 7,210 66,693
Tilly’s, Inc., Class A (I) 2,648 19,913
Vitamin Shoppe, Inc. (I) 7,717 342,558
West Marine, Inc. (I) 4,385 39,465
Winmark Corp. 588 43,218
Zumiez, Inc. (I) 5,263 147,890
12,964,183
Textiles, apparel and luxury goods - 1.0%
Columbia Sportswear Company (L) 6,890 246,524
Crocs, Inc. (I) 21,942 276,030
Culp, Inc. 2,191 39,767
G-III Apparel Group, Ltd. (I) 4,808 398,391
Iconix Brand Group, Inc. (I) 11,474 423,850
Movado Group, Inc. 4,567 150,985
Oxford Industries, Inc. 3,643 222,187
Perry Ellis International, Inc. (I) 3,048 62,027
Quiksilver, Inc. (I)(L) 35,047 60,281
Sequential Brands Group, Inc. (I) 4,230 52,875
Skechers U.S.A., Inc., Class A (I) 9,799 522,385
Steven Madden, Ltd. (I) 14,605 470,719
Tumi Holdings, Inc. (I) 12,698 258,404
Unifi, Inc. (I) 3,639 94,250
Vera Bradley, Inc. (I)(L) 5,434 112,375
Vince Holding Corp. (I) 2,809 85,000
Wolverine World Wide, Inc. 25,422 637,075
4,113,125
53,190,387
Consumer staples - 3.1%
Beverages - 0.1%
Coca-Cola Bottling Company Consolidated 1,190 88,810
Craft Brew Alliance, Inc. (I) 2,760 39,744
National Beverage Corp. (I) 2,887 56,297
The Boston Beer
        Company, Inc., Class A (I)(L) 2,088 463,035
647,886
Food and staples retailing - 0.9%
Casey’s General Stores, Inc. 9,652 692,048
Fairway Group Holdings Corp. (I)(L) 4,626 17,301
Ingles Markets, Inc., Class A 3,334 78,982
Liberator Medical Holdings, Inc. 7,869 24,630
Natural Grocers by
        Vitamin Cottage, Inc. (I)(L) 2,155 35,083
PriceSmart, Inc. 4,696 402,165
Roundy’s, Inc. 9,284 27,759
SpartanNash Company 9,505 184,872
SUPERVALU, Inc. (I) 50,829 454,411
The Andersons, Inc. 7,068 444,436
The Chefs’ Warehouse, Inc. (I)(L) 4,509 73,316
The Fresh Market, Inc. (I)(L) 10,741 375,183
The Pantry, Inc. (I) 5,888 119,114
United Natural Foods, Inc. (I) 12,438 764,439
Village Super Market, Inc., Class A 1,702 38,772
Weis Markets, Inc. 2,736 106,786
3,839,297
Food products - 1.5%
Alico, Inc. 730 27,813
Annie’s, Inc. (I) 4,238 194,524
B&G Foods, Inc. 13,441 370,300
Boulder Brands, Inc. (I) 15,264 208,048
Cal-Maine Foods, Inc. 3,888 347,315
Calavo Growers, Inc. 3,398 153,386
Chiquita Brands International, Inc. (I) 11,857 168,369
Darling International, Inc. (I) 41,261 755,902
Dean Foods Company (L) 23,440 310,580
Diamond Foods, Inc. (I) 5,536 158,385
Farmer Brothers Company (I) 1,870 54,137
Fresh Del Monte Produce, Inc. 9,040 288,376
Inventure Foods, Inc. (I) 3,833 49,676
J&J Snack Foods Corp. 3,729 348,885
John B. Sanfilippo & Son, Inc. 2,073 67,082
Lancaster Colony Corp. 4,641 395,784
Lifeway Foods, Inc. 1,174 16,283
Limoneira Company (L) 2,806 66,474
Omega Protein Corp. (I) 5,257 65,713
Post Holdings, Inc. (I) 11,022 365,710
Sanderson Farms, Inc. (L) 5,782 508,527
Seaboard Corp. (I) 71 189,924
Seneca Foods Corp., Class A (I) 2,025 57,915
Snyder’s-Lance, Inc. 11,868 314,502
Tootsie Roll Industries, Inc. (L) 4,688 131,217
TreeHouse Foods, Inc. (I) 10,542 848,631
6,463,458
Household products - 0.2%
Central Garden & Pet Company, Class A (I) 10,815 86,953
Harbinger Group, Inc. (I) 20,800 272,896
Oil-Dri Corp. of America 1,219 31,779
Orchids Paper Products Company 2,018 49,562
WD-40 Company 3,767 256,005
697,195
Personal products - 0.2%
Elizabeth Arden, Inc. (I)(L) 6,525 109,229
IGI Laboratories, Inc. (I) 8,263 77,011
Inter Parfums, Inc. 4,204 115,610
Medifast, Inc. (I) 3,344 109,784
Nature’s Sunshine Products, Inc. 2,721 40,352
Nutraceutical International Corp. (I) 2,157 45,103
Revlon, Inc., Class A (I) 2,842 90,063
Synutra International, Inc. (I) 4,332 19,624
The Female Health Company 5,460 19,055

The accompanying notes are an integral part of the financial statements.

188



John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Small Cap Index Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Personal products (continued)
USANA Health Sciences, Inc. (I)(L) 1,503 $ 110,711
736,542
Tobacco - 0.2%  
2nd Century Group, Inc. (I)(L) 10,352 26,087
Alliance One International, Inc. (I) 22,218 43,769
Universal Corp. (L) 5,826 258,616
Vector Group, Ltd. (L) 17,255 382,708
711,180
13,095,558
Energy - 5.3%
Energy equipment and services - 1.7%
Basic Energy Services, Inc. (I) 8,031 174,192
Bristow Group, Inc. 8,913 598,954
C&J Energy Services, Inc. (I) 11,543 352,639
CARBO Ceramics, Inc. (L) 4,947 293,011
CHC Group, Ltd. (I)(L) 8,660 48,496
Dawson Geophysical Company 2,103 38,233
Era Group, Inc. (I) 5,048 109,794
Exterran Holdings, Inc. 14,680 650,471
Forum Energy Technologies, Inc. (I) 14,934   457,130
Geospace Technologies Corp. (I) 3,334   117,190
Glori Energy, Inc. (I) 3,069 24,245
Gulf Island Fabrication, Inc. 3,637 62,556
Gulfmark Offshore, Inc., Class A 6,752 211,675
Helix Energy Solutions Group, Inc. (I) 26,457 583,641
Hercules Offshore, Inc. (I)(L) 39,725 87,395
Hornbeck Offshore Services, Inc. (I) 9,089 297,483
ION Geophysical Corp. (I) 32,776 91,445
Key Energy Services, Inc. (I) 33,181 160,596
Matrix Service Company (I) 6,559 158,203
McDermott International, Inc. (I)(L) 59,558 340,672
Mitcham Industries, Inc. (I) 3,277 36,211
Natural Gas Services Group, Inc. (I) 3,086 74,280
Newpark Resources, Inc. (I) 21,255 264,412
Nordic American Offshore, Ltd. 190 3,348
North Atlantic Drilling, Ltd. (L) 17,939 119,474
Nuverra Environmental Solutions, Inc. (I)(L) 3,727 54,973
Parker Drilling Company (I) 30,511 150,724
PHI, Inc. (I) 3,154 129,787
Pioneer Energy Services Corp. (I) 15,806 221,600
Profire Energy, Inc. (I) 3,678 15,264
RigNet, Inc. (I) 2,967 120,015
SEACOR Holdings, Inc. (I) 5,159 385,893
Tesco Corp. 8,794 174,561
TETRA Technologies, Inc. (I) 19,780 214,020
Vantage Drilling Company (I)(L) 51,083 64,875
Willbros Group, Inc. (I) 10,004 83,333
6,970,791
Oil, gas and consumable fuels - 3.6%
Abraxas Petroleum Corp. (I) 23,180 122,390
Adams Resources & Energy, Inc. 535 23,695
Alon USA Energy, Inc. 6,437 92,435
Alpha Natural Resources, Inc. (I)(L) 54,975 136,338
American Eagle Energy Corp. (I) 7,643 31,107
Amyris, Inc. (I) 6,794 25,749
Apco Oil and Gas International, Inc. (I) 2,313 29,815
Approach Resources, Inc. (I)(L) 9,752 141,404
Arch Coal, Inc. (L) 52,539 111,383
Ardmore Shipping Corp. 4,528 49,355
Bill Barrett Corp. (I)(L) 12,470 274,839
Bonanza Creek Energy, Inc. (I) 8,254 469,653
BPZ Resources, Inc. (I)(L) 28,850 55,104
Callon Petroleum Company (I) 10,065 88,673
Carrizo Oil & Gas, Inc. (I) 11,408 613,979
Clayton Williams Energy, Inc. (I) 1,496 144,289
Clean Energy Fuels Corp. (I)(L) 17,590 137,202
Cloud Peak Energy, Inc. (I) 15,296 193,036
Comstock Resources, Inc. 11,999 223,421
Contango Oil & Gas Company (I) 4,405 146,422
Delek US Holdings, Inc. 14,880 492,826
DHT Holdings, Inc. 17,102 105,348
Diamondback Energy, Inc. (I) 10,505 785,564
Dorian LPG, Ltd. (I) 1,834 32,682
Emerald Oil, Inc. (I)(L) 14,169 87,139
Energy XXI Bermuda, Ltd. (L) 23,561 267,417
Evolution Petroleum Corp. 4,941 45,358
EXCO Resources, Inc. (L) 37,977 126,843
Forest Oil Corp. (I)(L) 28,645 33,515
Frontline, Ltd. (I)(L) 18,232 22,972
FX Energy, Inc. (I)(L) 13,316 40,481
GasLog, Ltd. 10,577 232,800
Gastar Exploration, Inc. (I) 13,903 81,611
Goodrich Petroleum Corp. (I)(L) 8,590 127,304
Green Plains Renewable Energy, Inc. 9,344 349,372
Halcon Resources Corp. (I)(L) 65,437 259,131
Hallador Energy Company 2,607 30,867
Harvest Natural Resources, Inc. (I)(L) 10,409 38,201
Isramco, Inc. (I) 225 27,486
Jones Energy, Inc., Class A (I) 2,796 52,509
Kodiak Oil & Gas Corp. (I) 66,824 906,802
Magnum Hunter Resources Corp. (I)(L) 49,857 277,703
Matador Resources Company (I) 18,383 475,201
Midstates Petroleum Company, Inc. (I)(L) 9,101 45,960
Miller Energy Resources, Inc. (I)(L) 7,196 31,662
Navios Maritime Acquisition Corp. (L) 20,605 55,840
Nordic American Tankers, Ltd. (L) 22,533 179,137
Northern Oil and Gas, Inc. (I)(L) 15,445 219,628
Pacific Ethanol, Inc. (I) 5,990 83,620
Panhandle Oil and Gas, Inc., Class A 1,736 103,639
Parsley Energy, Inc. (I) 13,340 284,542
PDC Energy, Inc. (I) 8,978 451,504
Penn Virginia Corp. (I) 16,523 210,007
Petroquest Energy, Inc. (I) 14,599 82,046
Quicksilver Resources, Inc. (I)(L) 32,239 19,434
Renewable Energy Group, Inc. (I) 8,504 86,316
Resolute Energy Corp. (I)(L) 19,605 122,923
REX American Resources Corp. (I) 1,563 113,911
Rex Energy Corp. (I) 12,177 154,283
Ring Energy, Inc. (I) 5,136 75,705
Rosetta Resources, Inc. (I) 15,408 686,580
RSP Permian, Inc. (I) 5,863 149,858
Sanchez Energy Corp. (I)(L) 12,777 335,524
Scorpio Tankers, Inc. 43,174 358,776
SemGroup Corp., Class A 10,683 889,573
Ship Finance International, Ltd. (L) 14,780 250,078
Solazyme, Inc. (I)(L) 19,243 143,553
Stone Energy Corp. (I) 14,086 441,737
Swift Energy Company (I)(L) 10,830 103,968
Synergy Resources Corp. (I) 16,535 201,562
Teekay Tankers, Ltd., Class A (L) 15,318 57,136
Transatlantic Petroleum, Ltd. (I) 5,691 51,162
Triangle Petroleum Corp. (I)(L) 19,086 210,137
VAALCO Energy, Inc. (I) 12,257 104,185
Vertex Energy, Inc. (I)(L) 3,288 22,884

The accompanying notes are an integral part of the financial statements.

189



John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Small Cap Index Trust (continued)

Shares or
Principal
Amount         Value
COMMON STOCKS (continued)
Oil, gas and consumable fuels (continued)
W&T Offshore, Inc. 8,824 $ 97,064
Warren Resources, Inc. (I) 18,474 97,912
Western Refining, Inc. 13,336 559,979
Westmoreland Coal Company (I) 3,762 140,736
15,231,982
22,202,773
Financials - 22.9%
Banks - 7.3%
1st Source Corp. 3,750 106,800
1st United Bancorp, Inc. 7,427 63,278
American National Bankshares, Inc. 1,986 45,182
Ameris Bancorp 6,232 136,792
Ames National Corp. (L) 2,072 46,309
Arrow Financial Corp. (L) 2,742 68,750
Banc of California, Inc. 6,980   81,177
BancFirst Corp. 1,777 111,169
Banco Latinoamericano de
       Comercio Exterior SA 7,472 229,241
BancorpSouth, Inc. 24,082   485,011
Bank of Kentucky Financial Corp. 1,577 72,905
Bank of Marin Bancorp, Class A 1,485 68,147
Bank of the Ozarks, Inc. 19,958 629,076
Banner Corp. 4,933 189,773
BBCN Bancorp, Inc. 19,981 291,523
BNC Bancorp 5,002 78,331
Boston Private Financial Holdings, Inc. 20,128 249,386
Bridge Bancorp, Inc. 2,919 69,034
Bridge Capital Holdings (I) 2,466 56,077
Bryn Mawr Bank Corp. 3,429 97,144
Camden National Corp. 1,868 65,380
Capital Bank Financial Corp., Class A (I) 6,025 143,877
Capital City Bank Group, Inc. 2,681 36,301
Cardinal Financial Corp. 8,105 138,352
Cascade Bancorp (I) 7,807 39,425
Cathay General Bancorp 19,957 495,532
Centerstate Banks, Inc. 8,971 92,850
Central Pacific Financial Corp. 4,304 77,171
Century Bancorp, Inc., Class A 877 30,362
Chemical Financial Corp. 8,204 220,606
Citizens & Northern Corp. 3,122 59,318
City Holding Company (L) 3,987 167,972
CNB Financial Corp. 3,646 57,242
CoBiz Financial, Inc. 8,980 100,396
Columbia Banking System, Inc. 13,185 327,120
Community Bank Systems, Inc. 10,219 343,256
Community Trust Bancorp, Inc. 3,917 131,729
CommunityOne Bancorp (I) 2,925 25,799
ConnectOne Bancorp, Inc. 5,655 107,728
CU Bancorp (I) 2,518 47,338
Customers Bancorp, Inc. (I) 6,327 113,633
CVB Financial Corp. 26,535 380,777
Eagle Bancorp, Inc. (I) 5,746 182,838
Enterprise Bancorp, Inc. 1,884 35,495
Enterprise Financial Services Corp. 4,965 83,015
Fidelity Southern Corp. (L) 4,113 56,348
Financial Institutions, Inc. 3,433 77,174
First Bancorp North Carolina 4,944 79,203
First BanCorp Puerto Rico (I) 26,206 124,479
First Bancorp, Inc. 2,408 40,141
First Busey Corp. 18,283 101,836
First Business Financial Services, Inc. 989 43,417
First Citizens BancShares, Inc., Class A 1,897 410,947
First Commonwealth Financial Corp. 23,463 196,855
First Community Bancshares, Inc. 4,114 58,789
First Connecticut Bancorp, Inc. 4,070 59,015
First Financial Bancorp 14,441 228,601
First Financial Bankshares, Inc. (L) 16,047 445,946
First Financial Corp. 2,867 88,734
First Interstate Bancsystem, Inc. 4,537 120,548
First Merchants Corp. 9,035 182,597
First Midwest Bancorp, Inc. 18,782 302,202
First NBC Bank Holding Company (I) 3,772 123,533
FirstMerit Corp. 41,457 729,643
Flushing Financial Corp. 7,680 140,314
FNB Corp. 43,511 521,697
German American Bancorp, Inc. 3,276 84,554
Glacier Bancorp, Inc. 18,657 482,470
Great Southern Bancorp, Inc. 2,547 77,276
Guaranty Bancorp 3,708 50,095
Hampton Roads Bankshares, Inc. (I) 8,635 13,212
Hancock Holding Company 20,629 661,159
Hanmi Financial Corp. 7,886 158,982
Heartland Financial USA, Inc. 3,944 94,183
Heritage Commerce Corp. 5,240 43,020
Heritage Financial Corp. 7,522 119,148
Heritage Oaks Bancorp 5,667 39,669
Home BancShares, Inc. 13,568 399,035
HomeTrust Bancshares, Inc. (I) 5,273 77,039
Horizon Bancorp 2,310 53,222
Hudson Valley Holding Corp. 3,707 67,282
Iberiabank Corp. 7,876 492,329
Independent Bank Corp. 5,975 213,427
Independent Bank Corp. (MI) 5,753 68,576
Independent Bank Group, Inc. 2,299 109,088
International Bancshares Corp. 13,638 336,381
Investors Bancorp, Inc. 89,783 909,502
Lakeland Bancorp, Inc. 9,511 92,827
Lakeland Financial Corp. 4,183 156,863
Macatawa Bank Corp. 6,598 31,670
MainSource Financial Group, Inc. 5,126 88,424
MB Financial, Inc. 16,647 460,789
Mercantile Bank Corp. 4,217 80,334
Merchants Bancshares, Inc. 1,295 36,506
Metro Bancorp, Inc. (I) 3,562 86,379
MidSouth Bancorp, Inc. 2,094 39,158
MidWestOne Financial Group, Inc. 1,753 40,337
National Bank Holdings Corp., Class A 10,313 197,185
National Bankshares, Inc. (L) 1,684 46,748
National Penn Bancshares, Inc. 29,567 287,096
NBT Bancorp, Inc. 10,944 246,459
NewBridge Bancorp (I) 8,452 64,151
Northrim BanCorp, Inc. 1,718 45,407
OFG Bancorp (L) 11,301 169,289
Old Line Bancshares, Inc. 2,110 32,663
Old National Bancorp 28,772 373,173
OmniAmerican Bancorp, Inc. 2,906 75,527
Opus Bank (I) 1,284 39,329
Pacific Continental Corp. 4,516 58,031
Pacific Premier Bancorp, Inc. (I) 4,333 60,879
Palmetto Bancshares, Inc. 1,128 15,950
Park National Corp. (L) 3,235 243,984
Park Sterling Corp. 11,240 74,521
Peapack Gladstone Financial Corp. 3,028 52,990
Penns Woods Bancorp, Inc. 1,212 51,207
Peoples Bancorp, Inc. 2,736 64,980

The accompanying notes are an integral part of the financial statements.

190



John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Small Cap Index Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Banks (continued)
Peoples Financial Services Corp. (L) 1,892 $ 87,013
Pinnacle Financial Partners, Inc. 8,968 323,745
Preferred Bank 2,939 66,186
PrivateBancorp, Inc. 17,958 537,124
Prosperity Bancshares, Inc. 17,482 999,446
Renasant Corp. 7,878 213,100
Republic Bancorp, Inc., Class A 2,469 58,491
Republic First Bancorp, Inc. (I) 7,784 30,280
S&T Bancorp, Inc. 7,439 174,519
Sandy Spring Bancorp, Inc. 6,301 144,230
Seacoast Banking Corp. of Florida (I) 4,891 53,459
Servisfirst Bancshares, Inc. 469 13,507
Sierra Bancorp 3,048 51,084
Simmons First National Corp., Class A 4,056 156,237
South State Corp. 6,013 336,247
Southside Bancshares, Inc. (L) 4,678 155,544
Southwest Bancorp, Inc. 4,970 81,508
Square 1 Financial, Inc., Class A (I) 1,736 33,383
State Bank Financial Corp. 7,944 129,011
Sterling Bancorp 20,893 267,221
Stock Yards Bancorp, Inc. 3,669   110,437
Stonegate Bank (L) 2,501 64,401
Suffolk Bancorp 2,910 56,483
Sun Bancorp, Inc. (I) 2,177 39,425
Susquehanna Bancshares, Inc. 47,041 470,410
Talmer Bancorp, Inc., Class A 4,591 63,494
Texas Capital Bancshares, Inc. (I) 10,794   622,598
The Bancorp, Inc. (I) 8,292 71,228
The First of Long Island Corp. 2,020 69,589
Tompkins Financial Corp. 3,716 163,801
TowneBank (L) 7,417 100,723
Trico Bancshares (L) 4,049 91,588
TriState Capital Holdings, Inc. (I) 5,486 49,758
Trustmark Corp. 16,904 389,384
UMB Financial Corp. 9,458 515,934
Umpqua Holdings Corp. 41,767 687,902
Union Bankshares Corp. 11,606 268,099
United Bankshares, Inc. (L) 17,299 535,058
United Community Banks, Inc. 12,643 208,104
Univest Corp. of Pennsylvania 4,082 76,538
Valley National Bancorp (L) 50,250 486,923
ViewPoint Financial Group, Inc. 10,011 239,663
Washington Trust Bancorp, Inc. 3,644 120,216
Webster Financial Corp. 22,643 659,817
WesBanco, Inc. 6,565 200,823
West Bancorp, Inc. 3,996 56,463
WestAmerica Bancorp. (L) 6,593 306,706
Western Alliance Bancorp (I) 18,912 451,997
Wilshire Bancorp, Inc. 17,822 164,497
Wintrust Financial Corp. 11,666 521,120
Yadkin Financial Corp. (I) 5,099 92,598
30,540,253
Capital markets - 1.5%
Actua Corp. (I) 10,277 164,638
Arlington Asset Investment Corp., Class A (L) 4,790 121,714
BGC Partners, Inc., Class A 43,665 324,431
Calamos Asset Management, Inc., Class A 4,297 48,427
CIFC Corp. 1,521 13,765
Cohen & Steers, Inc. (L) 4,845 186,242
CorEnergy Infrastructure Trust, Inc. 7,966 59,586
Cowen Group, Inc., Class A (I) 28,878 108,293
Diamond Hill Investment Group, Inc. 712 87,612
Evercore Partners, Inc., Class A 8,297 389,959
FBR & Company (I) 2,361 64,975
Financial Engines, Inc. (L) 12,903 441,476
FXCM, Inc., Class A (L) 11,304 179,168
GAMCO Investors, Inc., Class A 1,602 113,325
GFI Group, Inc. 19,189 103,812
Greenhill & Company, Inc. 7,093 329,754
HFF, Inc., Class A 8,249 238,809
INTL. FCStone, Inc. (I) 3,887 67,323
Investment Technology Group, Inc. (I) 9,119 143,715
Janus Capital Group, Inc. 37,497 545,206
KCG Holdings, Inc., Class A (I) 11,312 114,591
Ladenburg Thalmann
       Financial Services, Inc. (I) 24,928 105,695
Manning & Napier, Inc. 3,336 56,011
Marcus & Millichap, Inc. (I) 2,008 60,762
Moelis & Company 1,877 64,100
Oppenheimer Holdings, Inc., Class A 2,563 51,901
Piper Jaffray Companies (I) 4,080 213,139
Pzena Investment Management, Inc., Class A 2,861 27,323
RCS Capital Corp., Class A (I) 2,369 53,350
Safeguard Scientifics, Inc. (I) 5,083 93,527
Silvercrest Asset Management Group, Inc. 1,421 19,354
Stifel Financial Corp. (I) 16,421 769,981
SWS Group, Inc. (I)(L) 7,217 49,725
Virtus Investment Partners, Inc. 1,777 308,665
Walter Investment Management Corp. (I)(L) 9,459 207,625
Westwood Holdings Group, Inc. 1,837 104,140
WisdomTree Investments, Inc. (I)(L) 27,082 308,193
6,340,312
Consumer finance - 0.7%
Cash America International, Inc. 7,054 308,965
Consumer Portfolio Services, Inc. (I) 5,270 33,781
Credit Acceptance Corp. (I) 1,765 222,514
Encore Capital Group, Inc. (I)(L) 6,443 285,489
Ezcorp, Inc., Class A (I) 12,798 126,828
First Cash Financial Services, Inc. (I) 7,260 406,415
Green Dot Corp., Class A (I) 7,722 163,243
JG Wentworth, Inc. (I) 2,962 36,699
Nelnet, Inc., Class A 5,254 226,395
Nicholas Financial, Inc. (I) 2,603 30,169
Portfolio Recovery Associates, Inc. (I) 12,550 655,487
Regional Management Corp. (I) 2,722 48,860
Springleaf Holdings, Inc. (I) 6,132 195,795
World Acceptance Corp. (I)(L) 1,974 133,245
2,873,885
Diversified financial services - 0.3%
Gain Capital Holdings, Inc. 5,573 35,500
MarketAxess Holdings, Inc. 9,457 585,010
Marlin Business Services Corp. 2,101 38,490
NewStar Financial, Inc. (I) 6,520 73,285
PHH Corp. (I) 14,398 321,939
PICO Holdings, Inc. (I) 5,673 113,176
Resource America, Inc., Class A 3,406 31,710
Tiptree Financial, Inc. (I) 1,992 16,454
1,215,564
Insurance - 2.5%
Ambac Financial Group, Inc. (I) 11,188 247,255
American Equity Investment Life
       Holding Company 18,639 426,460
AMERISAFE, Inc. 4,677 182,917
AmTrust Financial Services, Inc. (L) 7,532 299,924

The accompanying notes are an integral part of the financial statements.

191



John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Small Cap Index Trust (continued)

Shares or
Principal
Amount         Value
COMMON STOCKS (continued)
Insurance (continued)
Argo Group International Holdings, Ltd. 6,522 $ 328,122
Atlas Financial Holdings, Inc. (I) 2,896 40,081
Baldwin & Lyons, Inc., Class B 2,350 58,045
Citizens, Inc. (I)(L) 11,097 71,687
CNO Financial Group, Inc. 54,624 926,423
Crawford & Company, Class B 6,810 56,183
Donegal Group, Inc., Class A 2,068 31,764
eHealth, Inc. (I) 4,458 107,572
EMC Insurance Group, Inc. 1,223 35,320
Employers Holdings, Inc. 7,804 150,227
Enstar Group, Ltd. (I) 2,136 291,180
FBL Financial Group, Inc., Class A 2,419 108,129
Federated National Holding Company 3,463 97,276
Fidelity & Guaranty Life 2,825 60,314
First American Financial Corp. 26,791 726,572
Global Indemnity PLC (I) 2,065 52,100
Greenlight Capital Re, Ltd., Class A (I) 7,106 230,305
Hallmark Financial Services, Inc. (I) 3,573 36,838
HCI Group, Inc. 2,206 79,394
Heritage Insurance Holdings, Inc. (I) 1,741 26,219
Hilltop Holdings, Inc. (I) 16,994   340,730
Horace Mann Educators Corp. 10,206   290,973
Independence Holding Company 1,953 25,955
Infinity Property & Casualty Corp. 2,887 184,797
Kansas City Life Insurance Company 960 42,576
Kemper Corp. 11,652 397,916
Maiden Holdings, Ltd. 12,393 137,314
Meadowbrook Insurance Group, Inc. 12,653 74,020
Montpelier Re Holdings, Ltd. 9,851 306,268
National General Holdings Corp. 8,965 151,419
National Interstate Corp. 1,779 49,634
National Western Life Insurance
       Company, Class A 561 138,573
OneBeacon Insurance Group, Ltd., Class A 5,664 87,282
Platinum Underwriters Holdings, Ltd. 6,753 411,055
Primerica, Inc. 13,686 659,939
RLI Corp. 10,782 466,753
Safety Insurance Group, Inc. 3,249 175,154
Selective Insurance Group, Inc. 14,118 312,573
State Auto Financial Corp. 3,883 79,640
Stewart Information Services Corp. 5,393 158,285
Symetra Financial Corp. 18,892 440,750
The Navigators Group, Inc. (I) 2,633 161,930
The Phoenix Companies, Inc. (I) 1,432 80,278
Third Point Reinsurance, Ltd. (I) 14,171 206,188
United Fire Group, Inc. 5,183 143,932
United Insurance Holdings Corp. 4,175 62,625
Universal Insurance Holdings, Inc. 7,898 102,121
10,358,987
Real estate investment trusts - 8.4%
Acadia Realty Trust 14,376 396,490
AG Mortgage Investment Trust, Inc. 7,097 126,327
Agree Realty Corp. 3,749 102,648
Alexander’s, Inc. 523 195,555
Altisource Residential Corp., Class B 14,324 343,776
American Assets Trust, Inc. 8,985 296,235
American Capital Mortgage Investment Corp. 12,802 240,934
American Realty Capital Healthcare Trust, Inc. 42,459 444,970
American Residential Properties, Inc. (I) 8,035 147,362
AmREIT, Inc. 4,928 113,196
Anworth Mortgage Asset Corp. 32,473 155,546
Apollo Commercial Real Estate Finance, Inc. 11,524 181,042
Apollo Residential Mortgage, Inc. 8,107 125,091
Ares Commercial Real Estate Corp. 7,193 84,086
Armada Hoffler Properties, Inc. 4,829 43,847
ARMOUR Residential REIT, Inc. 89,574 344,860
Ashford Hospitality Prime, Inc. 6,372 97,046
Ashford Hospitality Trust, Inc. 17,552 179,381
Associated Estates Realty Corp. 14,409 252,302
Aviv REIT, Inc. 4,926 129,800
Campus Crest Communities, Inc. 16,117 103,149
Capstead Mortgage Corp. 23,964 293,319
CaretTust REIIT, Inc. (I) 5,016 71,729
CatchMark Timber Trust, Inc., Class A 4,802 52,630
Cedar Realty Trust, Inc. 19,851 117,121
Chambers Street Properties 59,466 447,779
Chatham Lodging Trust 6,629 152,997
Chesapeake Lodging Trust 12,545 365,687
Colony Financial, Inc. 26,919 602,447
CoreSite Realty Corp. 5,325 175,033
Cousins Properties, Inc. 55,184 659,449
CubeSmart 36,182 650,552
CyrusOne, Inc. 8,234 197,945
CYS Investments, Inc. 40,651 334,964
DCT Industrial Trust, Inc. 82,526 619,770
DiamondRock Hospitality Company 49,061 622,093
DuPont Fabros Technology, Inc. 15,981 432,126
Dynex Capital, Inc. 13,856 111,956
EastGroup Properties, Inc. 7,839 474,965
Education Realty Trust, Inc. 34,981 359,605
Empire State Realty Trust, Inc., Class A 22,974 345,069
EPR Properties 13,383 678,250
Equity One, Inc. 15,432 333,794
Excel Trust, Inc. 15,322 180,340
FelCor Lodging Trust, Inc. 31,210 292,126
First Industrial Realty Trust, Inc. 27,616 466,987
First Potomac Realty Trust 14,823 174,170
Franklin Street Properties Corp. 22,554 253,056
Getty Realty Corp. 6,411 108,987
Gladstone Commercial Corp. 4,447 75,555
Glimcher Realty Trust 36,390 492,721
Government Properties Income Trust 17,113 374,946
Gramercy Property Trust, Inc. 29,494 169,885
Hannon Armstrong Sustainable
       Infrastructure Capital, Inc. 5,466 75,540
Hatteras Financial Corp. 24,216 434,919
Healthcare Realty Trust, Inc. 24,070 569,978
Hersha Hospitality Trust 50,293 320,366
Highwoods Properties, Inc. 22,586 878,595
Hudson Pacific Properties, Inc. 13,786 339,963
Inland Real Estate Corp. 21,808 216,117
Invesco Mortgage Capital, Inc. 30,863 485,166
Investors Real Estate Trust 28,035 215,870
iStar Financial, Inc. (I) 21,277 287,240
Kite Realty Group Trust 8,249 199,956
LaSalle Hotel Properties 26,088 893,253
Lexington Realty Trust 51,552 504,694
LTC Properties, Inc. 8,775 323,710
Mack-Cali Realty Corp. 22,238 424,968
Medical Properties Trust, Inc. 43,211 529,767
Monmouth Real Estate
       Investment Corp., Class A 13,999 141,670
National Health Investments, Inc. 8,282 473,233
New Residential Investment Corp. 70,631 411,779
New York Mortgage Trust, Inc. 22,845 165,169
New York REIT, Inc. 40,684 418,232

The accompanying notes are an integral part of the financial statements.

192



John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Small Cap Index Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
Real estate investment trusts (continued)
One Liberty Properties, Inc. 3,074 $ 62,187
Owens Realty Mortgage, Inc. 2,710 38,618
Parkway Properties, Inc. 17,842 335,073
Pebblebrook Hotel Trust 16,020 598,187
Pennsylvania Real Estate Investment Trust 17,239 343,746
PennyMac Mortgage Investment Trust 18,542 397,355
Physicians Realty Trust 8,598 117,965
Potlatch Corp. 10,163 408,654
PS Business Parks, Inc. 4,876 371,259
QTS Realty Trust, Inc., Class A 3,046 92,446
RAIT Financial Trust 20,490 152,241
Ramco-Gershenson Properties Trust 19,336 314,210
Redwood Trust, Inc. 20,803 344,914
Resource Capital Corp. 32,681 159,156
Retail Opportunity Investments Corp. 22,577 331,882
Rexford Industrial Realty, Inc. 11,521 159,451
RLJ Lodging Trust 32,806 933,987
Rouse Properties, Inc. 9,332 150,898
Ryman Hospitality Properties 10,889 515,050
Sabra Health Care REIT, Inc. 11,830 287,706
Saul Centers, Inc. 2,412 112,737
Select Income REIT 9,209 221,476
Silver Bay Realty Trust Corp. 9,544 154,708
Sovran Self Storage, Inc. 8,262 614,362
STAG Industrial, Inc. 12,225 253,180
Starwood Waypoint Residential Trust 9,847 256,120
Strategic Hotels & Resorts, Inc. (I) 61,991 722,195
Summit Hotel Properties, Inc. 21,540 232,201
Sun Communities, Inc. 10,277 518,989
Sunstone Hotel Investors, Inc. 51,519 711,993
Terreno Realty Corp. 8,303 156,345
The Geo Group, Inc. 18,194 695,375
Trade Street Residential, Inc. 4,677 33,394
UMH Properties, Inc. 4,833 45,914
Universal Health Realty Income Trust 3,034 126,457
Urstadt Biddle Properties, Inc., Class A 6,199 125,840
Washington Real Estate Investment Trust 16,701 423,871
Western Asset Mortgage Capital Corp. 10,457 154,554
Whitestone REIT 5,630 78,482
34,855,059
Real estate management and development - 0.5%
Alexander & Baldwin, Inc. 12,219 439,517
Altisource Asset Management Corp. (I)(L) 354 238,954
Altisource Portfolio Solutions SA (I)(L) 3,658 368,726
AV Homes, Inc. (I) 2,830 41,460
Consolidated-Tomoka Land Company 1,074 52,701
Forestar Group, Inc. (I) 8,712 154,377
Kennedy-Wilson Holdings, Inc. 17,996 431,184
RE/MAX Holdings, Inc., Class A 2,738 81,401
Tejon Ranch Company (I) 3,367 94,411
The St. Joe Company (I)(L) 15,839 315,671
2,218,402
Thrifts and mortgage finance - 1.7%
Astoria Financial Corp. 21,712 269,012
Bank Mutual Corp. 11,690 74,933
BankFinancial Corp. 4,682 48,599
BBX Capital Corp., Class A (I) 2,000 34,860
Beneficial Mutual Bancorp, Inc. (I) 7,347 93,895
Berkshire Hills Bancorp, Inc. 6,244 146,672
BofI Holding, Inc. (I) 3,559 258,775
Brookline Bancorp, Inc. 17,471 149,377
Capitol Federal Financial, Inc. 35,845 423,688
Charter Financial Corp. 4,873 52,141
Clifton Bancorp, Inc. 6,645 83,661
Dime Community Bancshares, Inc. 8,208 118,195
ESB Financial Corp. 3,220 37,610
Essent Group, Ltd. (I) 10,445 223,627
EverBank Financial Corp. 22,830 403,178
Federal Agricultural Mortgage Corp., Class C 2,615 84,046
First Defiance Financial Corp. 2,427 65,553
First Financial Northwest, Inc. 3,687 37,644
Flagstar Bancorp, Inc. (I) 4,979 83,797
Fox Chase Bancorp, Inc. 3,054 49,811
Franklin Financial Corp. (I) 2,407 44,794
Home Loan Servicing Solutions, Ltd. 17,798 377,140
HomeStreet, Inc. 3,737 63,865
Kearny Financial Corp. (I) 3,653 48,694
Ladder Capital Corp., Class A (I) 3,720 70,308
Meridian Bancorp, Inc. (I) 5,230 55,229
Meta Financial Group, Inc. 1,538 54,230
MGIC Investment Corp. (I) 84,889 662,983
NMI Holdings, Inc., Class A (I)(L) 12,466 107,831
Northfield Bancorp, Inc. 13,438 183,026
Northwest Bancshares, Inc. 23,569 285,185
OceanFirst Financial Corp. 3,364 53,521
Oritani Financial Corp. 11,346 159,865
PennyMac Financial Services, Inc. (I) 3,376 49,458
Provident Financial Services, Inc. 15,206 248,922
Radian Group, Inc. 47,896 682,997
Stonegate Mortgage Corp. (I) 3,573 46,413
Territorial Bancorp, Inc. 2,196 44,557
Tree.com, Inc. (I) 1,606 57,639
TrustCo Bank Corp. 23,839 153,523
United Community Financial Corp. 12,696 59,417
United Financial Bancorp, Inc. 13,343 169,323
Walker & Dunlop, Inc. (I) 4,653 61,838
Washington Federal, Inc. 25,389 516,920
Waterstone Financial, Inc. 8,688 100,346
WSFS Financial Corp. 2,234 159,977
7,257,075
95,659,537
Health care - 12.9%
Biotechnology - 4.7%
ACADIA Pharmaceuticals, Inc. (I)(L) 19,751 489,035
Acceleron Pharma, Inc. (I)(L) 4,169 126,071
Achillion Pharmaceuticals, Inc. (I)(L) 24,131 240,827
Acorda Therapeutics, Inc. (I) 10,439 353,673
Actinium Pharmaceuticals, Inc. (I)(L) 5,548 37,172
Adamas Pharmaceuticals, Inc. (I) 732 13,630
Aegerion Pharmaceuticals, Inc. (I) 7,353 245,443
Agenus, Inc. (I) 15,591 48,488
Agios Pharmaceuticals, Inc. (I) 3,401 208,651
Akebia Therapeutics, Inc. (I)(L) 1,922 42,534
Alder Biopharmaceuticals, Inc. (I) 2,075 26,311
AMAG Pharmaceuticals, Inc. (I) 5,551 177,132
Anacor Pharmaceuticals, Inc. (I)(L) 8,254 201,975
Applied Genetic Technologies Corp. (I) 1,391 25,887
Arena Pharmaceuticals, Inc. (I)(L) 55,067 230,731
ARIAD Pharmaceuticals, Inc. (I)(L) 41,067 221,762
Array BioPharma, Inc. (I) 31,450 112,277
Arrowhead Research Corp. (I)(L) 13,003 192,054
Auspex Pharmaceuticals, Inc. (I) 2,328 59,760
BioCryst Pharmaceuticals, Inc. (I)(L) 17,516 171,306
BioSpecifics Technologies Corp. (I) 909 32,088

The accompanying notes are an integral part of the financial statements. 193


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Small Cap Index Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
Biotechnology (continued)
BioTime, Inc. (I)(L) 13,056 $ 40,996
Bluebird Bio, Inc. (I) 5,457 195,797
Cara Therapeutics, Inc. (I) 1,351 11,335
Celldex Therapeutics, Inc. (I)(L) 22,484 291,393
Cellular Dynamics International, Inc. (I) 2,241 15,754
Cepheid, Inc. (I) 17,480 769,644
ChemoCentryx, Inc. (I)(L) 6,864 30,888
Chimerix, Inc. (I) 6,791 187,567
Clovis Oncology, Inc. (I)(L) 6,187 280,642
CTI BioPharma Corp. (I)(L) 33,508 81,089
Cytokinetics, Inc. (I) 9,188 32,342
Cytori Therapeutics, Inc. (I)(L) 15,185 10,265
CytRx Corp. (I)(L) 14,681 37,290
Dendreon Corp. (I)(L) 41,134 59,233
Dicerna Pharmaceuticals, Inc. (I) 892 11,355
Durata Therapeutics, Inc. (I)(L) 3,858 48,919
Dyax Corp. (I) 33,869 342,754
Dynavax Technologies Corp. (I) 65,534 93,714
Eleven Biotherapeutics, Inc. (I) 1,148 12,789
Emergent Biosolutions, Inc. (I) 7,314 155,861
Enanta Pharmaceuticals, Inc. (I)(L) 2,611 103,317
Epizyme, Inc. (I)(L) 3,263 88,460
Esperion Therapeutics, Inc. (I) 1,166 28,520
Exact Sciences Corp. (I)(L) 20,761 402,348
Exelixis, Inc. (I)(L) 49,807 76,205
Five Prime Therapeutics, Inc. (I) 4,258 49,946
Flexion Therapeutics, Inc. (I) 1,143 20,871
Foundation Medicine, Inc. (I)(L) 3,417 64,786
Galectin Therapeutics, Inc. (I)(L) 4,769 23,988
Galena Biopharma, Inc. (I)(L) 29,038 59,818
Genocea Biosciences, Inc. (I) 979 8,860
Genomic Health, Inc. (I)(L) 4,134 117,034
Geron Corp. (I)(L) 38,627 77,254
Halozyme Therapeutics, Inc. (I)(L) 25,919 235,863
Heron Therapeutics, Inc. (I) 5,850 48,731
Hyperion Therapeutics, Inc. (I)(L) 3,493 88,093
Idera Pharmaceuticals, Inc. (I)(L) 14,722 33,713
ImmunoGen, Inc. (I)(L) 21,348 226,075
Immunomedics, Inc. (I)(L) 20,749 77,186
Infinity Pharmaceuticals, Inc. (I) 12,174 163,375
Inovio Pharmaceuticals, Inc. (I)(L) 15,064 148,380
Insmed, Inc. (I) 12,414 162,003
Insys Therapeutics, Inc. (I)(L) 2,545 98,695
Intrexon Corp. (I)(L) 8,931 165,938
Ironwood Pharmaceuticals, Inc. (I) 29,958 388,106
Isis Pharmaceuticals, Inc. (I)(L) 29,476 1,144,553
Karyopharm Therapeutics, Inc. (I)(L) 3,400 118,796
Keryx Biopharmaceuticals, Inc. (I)(L) 22,925 315,219
Kindred Biosciences, Inc. (I) 2,840 26,270
Kythera Biopharmaceuticals, Inc. (I)(L) 4,395 143,980
Lexicon Pharmaceuticals, Inc. (I)(L) 58,065 81,872
Ligand Pharmaceuticals, Inc. (I) 5,209 244,771
MacroGenics, Inc. (I) 5,066 105,879
MannKind Corp. (I)(L) 57,170 337,875
Merrimack Pharmaceuticals, Inc. (I)(L) 24,477 214,908
MiMedx Group, Inc. (I)(L) 23,085 164,596
Mirati Therapeutics, Inc. (I) 1,799 31,500
Momenta Pharmaceuticals, Inc. (I) 12,181 138,133
Nanoviricides, Inc. (I)(L) 10,062 30,186
Navidea Biopharmaceuticals, Inc. (I)(L) 37,894 50,020
Neostem, Inc. (I)(L) 5,970 33,014
Neuralstem, Inc. (I)(L) 16,818 55,163
Neurocrine Biosciences, Inc. (I) 19,006 297,824
NewLink Genetics Corp. (I)(L) 4,989 106,864
Northwest Biotherapeutics, Inc. (I)(L) 9,261 46,583
Novavax, Inc. (I)(L) 59,670 248,824
NPS Pharmaceuticals, Inc. (I) 26,652 692,952
Ohr Pharmaceutical, Inc. (I)(L) 5,250 38,063
OncoMed Pharmaceuticals, Inc. (I)(L) 3,257 61,655
Oncothyreon, Inc. (I) 17,282 33,181
Ophthotech Corp. (I)(L) 3,477 135,360
OPKO Health, Inc. (I)(L) 49,396 420,360
Orexigen Therapeutics, Inc. (I)(L) 30,718 130,859
Organovo Holdings, Inc. (I)(L) 15,843 100,920
Osiris Therapeutics, Inc. (I)(L) 4,621 58,178
OvaScience, Inc. (I)(L) 3,869 64,225
PDL BioPharma, Inc. (L) 40,192 300,234
Peregrine Pharmaceuticals, Inc. (I)(L) 44,337 60,298
Portola Pharmaceuticals, Inc. (I) 9,244 233,688
Progenics Pharmaceuticals, Inc. (I)(L) 17,442 90,524
Prothena Corp. PLC (I) 6,682 148,073
PTC Therapeutics, Inc. (I) 5,564 244,872
Puma Biotechnology, Inc. (I)(L) 5,820 1,388,477
Raptor Pharmaceutical Corp. (I)(L) 15,806 151,580
Receptos, Inc. (I) 4,645 288,501
Regado Biosciences, Inc. (I) 4,123 4,659
Regulus Therapeutics, Inc. (I) 3,443 23,516
Repligen Corp. (I) 8,038 160,037
Retrophin, Inc. (I)(L) 5,219 47,075
Rigel Pharmaceuticals, Inc. (I) 22,445 43,543
Sangamo BioSciences, Inc. (I)(L) 17,223 185,750
Sarepta Therapeutics, Inc. (I)(L) 10,200 215,220
Spectrum Pharmaceuticals, Inc. (I)(L) 16,672 135,710
Stemline Therapeutics, Inc. (I)(L) 2,988 37,230
Sunesis Pharmaceuticals, Inc. (I)(L) 12,287 87,729
Synageva BioPharma Corp. (I)(L) 5,363 368,867
Synergy Pharmaceuticals, Inc. (I)(L) 23,430 65,253
Synta Pharmaceuticals Corp. (I) 16,797 50,559
TESARO, Inc. (I) 4,843 130,374
TG Therapeutics, Inc. (I)(L) 5,887 62,814
Threshold Pharmaceuticals, Inc. (I)(L) 13,105 47,309
Ultragenyx Pharmaceutical, Inc. (I) 1,758 99,503
Vanda Pharmaceuticals, Inc. (I) 8,597 89,237
Verastem, Inc. (I)(L) 5,255 44,773
Versartis, Inc. (I) 1,724 32,739
Vital Therapies, Inc. (I)(L) 1,375 28,064
Xencor, Inc. (I) 3,649 33,972
XOMA Corp. (I)(L) 20,633 86,865
ZIOPHARM Oncology, Inc. (I)(L) 20,158 53,217
19,636,844
Health care equipment and supplies - 3.0%
Abaxis, Inc. (L) 5,643 286,157
ABIOMED, Inc. (I)(L) 10,009 248,523
Accuray, Inc. (I)(L) 19,023 138,107
Analogic Corp. 3,116 199,299
AngioDynamics, Inc. (I) 6,122 83,994
Anika Therapeutics, Inc. (I) 3,617 132,599
Antares Pharma, Inc. (I)(L) 29,979 54,862
AtriCure, Inc. (I) 6,778 99,772
Atrion Corp. 385 117,429
Cantel Medical Corp. 8,503 292,333
Cardiovascular Systems, Inc. (I) 6,989 165,150
Cerus Corp. (I)(L) 18,214 73,038
CONMED Corp. 6,818 251,175
CryoLife, Inc. 7,049 69,574
Cyberonics, Inc. (I) 6,726 344,102

The accompanying notes are an integral part of the financial statements. 194


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Small Cap Index Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
Health care equipment and supplies (continued)
Cynosure, Inc., Class A (I) 5,653 $ 118,713
Derma Sciences, Inc. (I)(L) 5,651 47,073
DexCom, Inc. (I) 18,781 751,052
Endologix, Inc. (I) 16,159 171,285
Exactech, Inc. (I) 2,450 56,081
GenMark Diagnostics, Inc. (I)(L) 10,342 92,768
Globus Medical, Inc., Class A (I) 16,491 324,378
Greatbatch, Inc. (I) 6,262 266,824
Haemonetics Corp. (I) 13,051 455,741
HeartWare International, Inc. (I) 4,259 330,626
ICU Medical, Inc. (I) 3,363 215,837
Inogen, Inc. (I) 1,284 26,463
Insulet Corp. (I) 13,893 511,957
Integra LifeSciences Holdings Corp. (I) 6,259 310,697
Invacare Corp. 7,943 93,807
K2M Group Holdings, Inc. (I) 2,216 31,977
LDR Holding Corp. (I)(L) 4,227 131,587
Masimo Corp. (I) 12,171 258,999
Meridian Bioscience, Inc. (L) 10,540 186,453
Merit Medical Systems, Inc. (I) 10,786 128,138
Natus Medical, Inc. (I) 8,053 237,644
Neogen Corp. (I) 9,186 362,847
NuVasive, Inc. (I) 11,683 407,386
NxStage Medical, Inc. (I) 15,334 201,335
OraSure Technologies, Inc. (I) 13,989 101,001
Orthofix International NV (I) 4,593 142,199
Oxford Immunotec Global PLC (I)(L) 3,375 51,536
PhotoMedex, Inc. (I)(L) 3,239 20,082
Quidel Corp. (I)(L) 7,193 193,276
Rockwell Medical Technologies, Inc. (I) 10,160 92,862
RTI Surgical, Inc. (I) 14,207 67,909
Spectranetics Corp. (I) 10,376 275,690
STAAR Surgical Company (I) 9,672 102,813
STERIS Corp. 14,809 799,094
SurModics, Inc. (I) 3,413 61,980
Symmetry Medical, Inc. (I) 9,410 94,947
Tandem Diabetes Care, Inc. (I) 2,111 28,330
Thoratec Corp. (I) 14,243 380,715
Tornier NV (I) 8,997 215,028
Transenterix, Inc. (I) 6,780 29,561
Trivascular Technologies, Inc. (I) 1,869 27,063
Unilife Corp. (I)(L) 25,231 57,905
Utah Medical Products, Inc. 943 45,981
Vascular Solutions, Inc. (I) 4,290 105,963
Veracyte, Inc. (I) 1,640 15,990
Volcano Corp. (I) 12,871 136,947
West Pharmaceutical Services, Inc. 17,713 792,834
Wright Medical Group, Inc. (I) 12,515 379,205
Zeltiq Aesthetics, Inc. (I) 7,222 163,434
12,658,127
Health care providers and services - 2.5%
Acadia Healthcare Company, Inc. (I) 10,724 520,114
Addus HomeCare Corp. (I) 1,594 31,242
Air Methods Corp. (I)(L) 9,817 545,334
Alliance HealthCare Services, Inc. (I) 1,255 28,376
Almost Family, Inc. (I) 2,102 57,111
Amedisys, Inc. (I) 6,802 137,196
AMN Healthcare Services, Inc. (I) 11,529 181,005
Amsurg Corp. (I) 10,619 531,481
Bio-Reference Labs, Inc. (I)(L) 6,205 174,112
BioScrip, Inc. (I)(L) 17,361 119,965
BioTelemetry, Inc. (I) 6,416 43,051
Capital Senior Living Corp. (I) 7,298 154,937
Chemed Corp. (L) 4,399 452,657
Corvel Corp. (I) 2,769 94,284
Cross Country Healthcare, Inc. (I) 7,811 72,564
ExamWorks Group, Inc. (I) 8,700 284,925
Five Star Quality Care, Inc. (I) 10,397 39,197
Gentiva Health Services, Inc. (I) 7,818 131,186
Hanger, Inc. (I) 8,897 182,566
HealthSouth Corp. 22,085 814,937
Healthways, Inc. (I) 7,926 126,975
IPC The Hospitalist Company, Inc. (I) 4,261 190,850
Kindred Healthcare, Inc. 16,180 313,892
Landauer, Inc. 2,360 77,904
LHC Group, Inc. (I) 3,104 72,013
Magellan Health Services, Inc. (I) 6,909 378,130
Molina Healthcare, Inc. (I) 7,574 320,380
MWI Veterinary Supply, Inc. (I) 3,220 477,848
National Healthcare Corp. 2,551 141,606
National Research Corp., Class A (I) 2,493 32,434
Owens & Minor, Inc. (L) 15,810 517,619
PharMerica Corp. (I) 7,497 183,152
RadNet, Inc. (I) 8,203 54,304
Select Medical Holdings Corp. 19,748 237,568
Skilled Healthcare Group, Inc., Class A (I) 5,887 38,854
Surgical Care Affiliates, Inc. (I) 3,142 83,986
Team Health Holdings, Inc. (I) 17,605 1,020,914
The Ensign Group, Inc. 5,018 174,626
The Providence Service Corp. (I) 2,874 139,044
Triple-S Management Corp., Class B (I) 6,220 123,778
Universal American Corp. (I) 10,675 85,827
US Physical Therapy, Inc. 3,067 108,541
WellCare Health Plans, Inc. (I) 11,002 663,861
10,160,346
Health care technology - 0.5%
Castlight Health, Inc., B Shares (I) 3,252 42,081
Computer Programs & Systems, Inc. 2,796 160,742
HealthStream, Inc. (I) 5,335 128,093
HMS Holdings Corp. (I)(L) 21,977 414,266
MedAssets, Inc. (I) 15,324 317,513
Medidata Solutions, Inc. (I) 13,562 600,661
Merge Healthcare, Inc. (I) 17,767 39,087
Omnicell, Inc. (I) 9,174 250,725
Quality Systems, Inc. 12,496 172,070
Vocera Communications, Inc. (I) 5,477 44,199
2,169,437
Life sciences tools and services - 0.5%
Accelerate Diagnostics, Inc. (I)(L) 5,707 122,586
Affymetrix, Inc. (I)(L) 18,460 147,311
Albany Molecular Research, Inc. (I) 5,946 131,228
Cambrex Corp. (I) 7,747 144,714
Enzo Biochem, Inc. (I) 8,567 44,120
Fluidigm Corp. (I)(L) 7,003 171,574
Luminex Corp. (I) 9,472 184,704
NanoString Technologies, Inc. (I)(L) 2,525 27,624
Pacific Biosciences of California, Inc. (I) 14,126 69,359
PAREXEL International Corp. (I) 14,256 899,411
Sequenom, Inc. (I)(L) 29,020 86,189
2,028,820
Pharmaceuticals - 1.7%
AcelRx Pharmaceuticals, Inc. (I)(L) 6,165 33,846
Achaogen, Inc. (I) 1,725 15,456
Aerie Pharmaceuticals, Inc. (I) 2,578 53,339

The accompanying notes are an integral part of the financial statements. 195


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Small Cap Index Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
Pharmaceuticals (continued)
Akorn, Inc. (I) 15,621 $ 566,574
Alimera Sciences, Inc. (I) 6,359 34,466
Ampio Pharmaceuticals, Inc. (I)(L) 10,397 36,701
ANI Pharmaceuticals, Inc. (I) 1,676 47,397
Aratana Therapeutics, Inc. (I)(L) 6,313 63,383
Auxilium Pharmaceuticals, Inc. (I) 12,599 376,080
AVANIR Pharmaceuticals, Inc., Class A (I) 42,888 511,225
Bio-Path Holdings, Inc. (I) 17,710 35,597
BioDelivery Sciences International, Inc. (I) 10,599 181,137
Cempra, Inc. (I)(L) 5,719 62,680
Chelsea Therapeutics International, Ltd. (I) 21,039 1,683
Corcept Therapeutics, Inc. (I) 13,380 35,858
Depomed, Inc. (I) 14,533 220,756
Egalet Corp. (I) 991 5,649
Endocyte, Inc. (I)(L) 9,138 55,559
Forest Laboratories, Inc. (I) 3,580 0
Furiex Pharmaceuticals, Inc. (I) 1,752 17,117
Horizon Pharma, Inc. (I)(L) 16,207 199,022
Impax Laboratories, Inc. (I) 17,553 416,182
Intra-Cellular Therapies, Inc. (I) 4,379 60,036
Lannett Company, Inc. (I) 6,444 294,362
Nektar Therapeutics (I) 31,827 384,152
Omeros Corp. (I)(L) 8,588 109,239
Pacira Pharmaceuticals, Inc. (I) 8,936 866,077
Pain Therapeutics, Inc. (I) 9,004 35,206
Pernix Therapeutics Holdings (I) 8,582 65,910
Phibro Animal Health Corp. 3,673 82,312
POZEN, Inc. (I) 6,843 50,228
Prestige Brands Holdings, Inc. (I) 12,986 420,357
Relypsa, Inc. (I) 4,277 90,202
Repros Therapeutics, Inc. (I) 5,575 55,193
Revance Therapeutics, Inc. (I) 2,152 41,598
Sagent Pharmaceuticals, Inc. (I) 5,525 171,828
SciClone Pharmaceuticals, Inc. (I) 12,904 88,909
Sucampo Pharmaceuticals, Inc., Class A (I) 4,427 28,776
Supernus Pharmaceuticals, Inc. (I) 7,256 63,055
Tetraphase Pharmaceuticals, Inc. (I) 5,530 110,324
The Medicines Company (I) 16,295 363,704
TherapeuticsMD, Inc. (I)(L) 26,992 125,243
Theravance Biopharma, Inc. (I) 5,822 134,197
Theravance, Inc. (L) 20,645 352,823
Trius Therapeutics, Inc. (I)(L) 10,401 1,144
Vivus, Inc. (I)(L) 22,757 87,842
XenoPort, Inc. (I) 14,662 78,882
Zogenix, Inc. (I)(L) 30,455 35,023
7,166,329
53,819,903
Industrials - 13.4%
Aerospace and defense - 1.7%
AAR Corp. 9,926 239,713
Aerovironment, Inc. (I) 4,737 142,442
American Science & Engineering, Inc. 1,982 109,763
Astronics Corp. (I) 4,720 225,050
Astronics Corp., Class B (I) 792 37,611
Cubic Corp. 5,170 241,956
Curtiss-Wright Corp. 12,082 796,445
DigitalGlobe, Inc. (I) 18,924 539,334
Ducommun, Inc. (I) 2,716 74,446
Engility Holdings, Inc. (I) 4,429 138,052
Erickson Air-Crane, Inc. (I) 1,528 19,849
Esterline Technologies Corp. (I) 7,978 887,712
GenCorp, Inc. (I)(L) 14,884 237,697
HEICO Corp. 16,677 778,816
Kratos Defense & Security Solutions, Inc. (I) 11,237 73,715
LMI Aerospace, Inc. (I) 2,716 34,765
Moog, Inc., Class A (I) 11,151 762,728
National Presto Industries, Inc. (L) 1,232 74,795
Orbital Sciences Corp. (I) 15,189 422,254
SIFCO Industries, Inc. 641 19,294
Sparton Corp. (I) 2,512 61,921
Taser International, Inc. (I) 13,487 208,239
Teledyne Technologies, Inc. (I) 9,408 884,446
The KEYW Holding Corp. (I)(L) 8,074 89,379
7,100,422
Air freight and logistics - 0.5%
Air Transport Services Group, Inc. (I) 13,027 94,837
Atlas Air Worldwide Holdings, Inc. (I) 6,344 209,479
Echo Global Logistics, Inc. (I) 5,836 137,438
Forward Air Corp. 7,814 350,302
Hub Group, Inc., Class A (I) 9,216 373,524
Park-Ohio Holdings Corp. 2,230 106,728
UTi Worldwide, Inc. (I) 23,039 244,905
XPO Logistics, Inc. (I)(L) 13,169 496,076
2,013,289
Airlines - 0.3%
Allegiant Travel Company 3,457 427,493
Hawaiian Holdings, Inc. (I)(L) 11,288 151,824
JetBlue Airways Corp. (I) 62,317 661,807
Republic Airways Holdings, Inc. (I) 12,497 138,842
SkyWest, Inc. 12,891 100,292
1,480,258
Building products - 0.7%
AAON, Inc. 10,485 178,350
American Woodmark Corp. (I) 3,083 113,639
Apogee Enterprises, Inc. 7,329 291,694
Builders FirstSource, Inc. (I) 11,427 62,277
Continental Building Products, Inc. (I) 2,898 42,311
Gibraltar Industries, Inc. (I) 7,733 105,865
Griffon Corp. 9,869 112,408
Insteel Industries, Inc. 4,571 93,980
Masonite International Corp. (I) 7,374 408,372
NCI Building Systems, Inc. (I) 7,013 136,052
Norcraft Cos, Inc. (I) 1,864 29,731
Nortek, Inc. (I) 2,306 171,797
Patrick Industries, Inc. (I) 2,022 85,652
PGT, Inc. (I) 11,930 111,188
Ply Gem Holdings, Inc. (I) 5,354 58,037
Quanex Building Products Corp. 9,482 171,529
Simpson Manufacturing Company, Inc. 10,375 302,431
Trex Company, Inc. (I) 8,419 291,045
Universal Forest Products, Inc. 5,059 216,070
2,982,428
Commercial services and supplies - 2.1%
ABM Industries, Inc. 13,939 358,093
ACCO Brands Corp. (I) 28,651 197,692
ARC Document Solutions, Inc. (I) 10,299 83,422
Brady Corp., Class A 11,982 268,876
Casella Waste Systems, Inc., Class A (I) 9,806 37,753
Ceco Environmental Corp. (L) 5,243 70,256
Cenveo, Inc. (I)(L) 13,899 34,331
Civeo Corp. 23,534 273,230
Deluxe Corp. 12,538 691,596
Ennis, Inc. 6,690 88,107

The accompanying notes are an integral part of the financial statements. 196


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Small Cap Index Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
Commercial services and supplies (continued)
G&K Services, Inc., Class A 4,999 $ 276,845
Healthcare Services Group, Inc. 17,611 503,851
Heritage-Crystal Clean, Inc. (I) 2,305 34,252
Herman Miller, Inc. 14,818 442,317
HNI Corp. 11,270 405,607
InnerWorkings, Inc. (I) 8,788 71,095
Interface, Inc. 16,654 268,796
Kimball International, Inc., Class B 8,629 129,866
Knoll, Inc. 12,251 212,065
Matthews International Corp., Class A 7,518 329,965
McGrath RentCorp. 6,482 221,684
Mobile Mini, Inc. 11,712 409,569
MSA Safety, Inc. 7,400 365,560
Multi-Color Corp. 3,109 141,397
NL Industries, Inc. 1,707 12,564
Performant Financial Corp. (I) 7,295 58,944
Quad/Graphics, Inc. 6,983 134,423
Quest Resource Holding Corp. (I) 3,214 5,528
SP Plus Corp. (I) 3,859 73,167
Steelcase, Inc., Class A 20,687 334,923
Team, Inc. (I) 5,126 194,327
Tetra Tech, Inc. 16,279 406,649
The Brink’s Company 12,148 292,038
UniFirst Corp. 3,699 357,286
United Stationers, Inc. 9,864 370,590
US Ecology, Inc. 5,426 253,720
Viad Corp. 5,156 106,471
West Corp. 9,653 284,377
8,801,232
Construction and engineering - 0.8%
Aegion Corp. (I) 9,577 213,088
Ameresco, Inc., Class A (I) 4,981 34,120
Argan, Inc. 3,095 103,311
Comfort Systems USA, Inc. 9,391 127,248
Dycom Industries, Inc. (I) 8,502 261,096
EMCOR Group, Inc. 16,851 673,366
Furmanite Corp. (I) 9,669 65,362
Granite Construction, Inc. 9,792 311,484
Great Lakes Dredge & Dock Corp. (I) 15,169 93,744
Layne Christensen Company (I)(L) 4,989 48,443
MasTec, Inc. (I) 16,401 502,199
MYR Group, Inc. (I) 5,415 130,393
Northwest Pipe Company (I) 2,441 83,238
Orion Marine Group, Inc. (I) 6,875 68,613
Pike Corp. (I) 6,870 81,684
Primoris Services Corp. 9,527 255,705
Sterling Construction Company, Inc. (I) 4,895 37,545
Tutor Perini Corp. (I) 9,334 246,418
3,337,057
Electrical equipment - 1.0%
AZZ, Inc. 6,406 267,579
Capstone Turbine Corp. (I)(L) 83,427 89,267
Encore Wire Corp. 5,174 191,904
EnerSys 11,755 689,313
Enphase Energy, Inc. (I) 4,585 68,729
Franklin Electric Company, Inc. 11,971 415,873
FuelCell Energy, Inc. (I)(L) 55,867 116,762
Generac Holdings, Inc. (I)(L) 17,253 699,437
General Cable Corp. 12,200 183,976
Global Power Equipment Group, Inc. 4,297 64,025
GrafTech International, Ltd. (I) 29,471 134,977
LSI Industries, Inc. 5,405 32,808
Plug Power, Inc. (I)(L) 42,180 193,606
Polypore International, Inc. (I)(L) 11,300 439,683
Powell Industries, Inc. 2,366 96,675
Power Solutions International, Inc. (I) 1,102 76,038
PowerSecure International, Inc. (I)(L) 5,577 53,428
Preformed Line Products Company 667 35,191
Revolution Lighting Technologies, Inc. (I) 8,219 13,808
Thermon Group Holdings, Inc. (I) 8,057 196,752
Vicor Corp. (I) 4,121 38,737
4,098,568
Industrial conglomerates - 0.1%
Raven Industries, Inc. 9,096 221,942
Machinery - 3.1%
Accuride Corp. (I) 9,656 36,596
Actuant Corp., Class A 17,794 543,073
Alamo Group, Inc. 1,840 75,440
Albany International Corp., Class A 7,046 239,846
Altra Industrial Motion Corp. 6,851 199,775
American Railcar Industries, Inc. (L) 2,346 173,416
ARC Group Worldwide, Inc. (I) 768 11,996
Astec Industries, Inc. 4,729 172,467
Barnes Group, Inc. 13,587 412,365
Blount International, Inc. (I) 12,507 189,231
Briggs & Stratton Corp. 11,651 209,951
Chart Industries, Inc. (I) 7,639 466,972
CIRCOR International, Inc. 4,445 299,282
CLARCOR, Inc. 12,628 796,574
Columbus McKinnon Corp. 5,066 111,401
Commercial Vehicle Group, Inc. (I) 6,632 40,986
Douglas Dynamics, Inc. 5,643 110,039
Dynamic Materials Corp. 3,478 66,256
Energy Recovery, Inc. (I)(L) 9,670 34,232
EnPro Industries, Inc. (I) 5,694 344,658
ESCO Technologies, Inc. 6,700 233,026
Federal Signal Corp. 15,797 209,152
FreightCar America, Inc. 3,027 100,799
Global Brass & Copper Holdings, Inc. 5,358 78,602
Graham Corp. 2,525 72,594
Harsco Corp. 20,243 433,403
Hillenbrand, Inc. 15,738 486,147
Hurco Companies, Inc. 1,625 61,198
Hyster-Yale Materials Handling, Inc. 2,570 184,063
John Bean Technologies Corp. 7,291 205,096
Kadant, Inc. 2,777 108,442
LB Foster Company, Class A 2,556 117,423
Lindsay Corp. (L) 3,248 242,788
Lydall, Inc. (I) 4,275 115,468
Manitex International, Inc. (I) 3,467 39,142
Meritor, Inc. (I) 24,513 265,966
Miller Industries, Inc. 2,823 47,709
Mueller Industries, Inc. 14,217 405,753
Mueller Water Products, Inc., Class A 40,095 331,987
NN, Inc. 4,446 118,797
Omega Flex, Inc. 717 13,953
Proto Labs, Inc. (I)(L) 5,673 391,437
RBC Bearings, Inc. 5,818 329,881
Rexnord Corp. (I) 18,833 535,799
Standex International Corp. 3,198 237,100
Sun Hydraulics Corp. 5,570 209,376
Tennant Company 4,596 308,346
The ExOne Company (I)(L) 2,565 53,583
The Gorman-Rupp Company 4,726 141,969

The accompanying notes are an integral part of the financial statements. 197


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Small Cap Index Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
Machinery (continued)
The Greenbrier Companies, Inc. (L) 6,917 $ 507,569
Titan International, Inc. (L) 10,901 128,850
TriMas Corp. (I) 11,344 276,000
Twin Disc, Inc. 2,127 57,344
Wabash National Corp. (I) 17,331 230,849
Watts Water Technologies, Inc., Class A 7,138 415,789
Woodward, Inc. 16,618 791,349
Xerium Technologies, Inc. (I) 2,732 39,915
13,061,220
Marine - 0.2%
Baltic Trading, Ltd. 11,967 49,543
International Shipholding Corp. 1,428 25,547
Knightsbridge Tankers, Ltd. 8,584 75,968
Matson, Inc. 10,781 269,848
Navios Maritime Holdings, Inc. (L) 19,651 117,906
Safe Bulkers, Inc. (L) 9,992 66,547
Scorpio Bulkers, Inc. (I) 33,775 196,571
Ultrapetrol Bahamas, Ltd. (I) 5,365 16,739
818,669
Professional services - 1.3%
Acacia Research Corp. (L) 12,655 195,899
Barrett Business Services, Inc. 1,761 69,542
CBIZ, Inc. (I) 10,200 80,274
CDI Corp. 3,531 51,270
Corporate Resource Services, Inc. (I) 4,409 6,614
CRA International, Inc. (I) 2,516 63,982
Exponent, Inc. 3,277 232,274
Franklin Covey Company (I) 2,786 54,578
FTI Consulting, Inc. (I) 10,241 358,025
GP Strategies Corp. (I) 3,770 108,274
Heidrick & Struggles International, Inc. 4,516 92,759
Hill International, Inc. (I) 7,776 31,104
Huron Consulting Group, Inc. (I) 5,901 359,784
ICF International, Inc. (I) 5,046 155,366
Insperity, Inc. 5,685 155,428
Kelly Services, Inc., Class A 6,837 107,136
Kforce, Inc. 6,750 132,098
Korn/Ferry International (I) 12,470 310,503
Mistras Group, Inc. (I) 4,063 82,885
Navigant Consulting, Inc. (I) 12,362 171,955
On Assignment, Inc. (I) 13,623 365,778
Paylocity Holding Corp. (I)(L) 2,003 39,359
Pendrell Corp. (I) 41,472 55,572
Resources Connection, Inc. 9,660 134,660
RPX Corp. (I) 13,286 182,417
The Advisory Board Company (I) 9,173 427,370
The Corporate Executive Board Company 8,470 508,793
Trinet Group, Inc. (I) 3,954 101,816
TrueBlue, Inc. (I) 10,363 261,769
VSE Corp. 1,036 50,785
WageWorks, Inc. (I) 8,803 400,801
5,348,870
Road and rail - 0.6%
ArcBest Corp. 6,520 243,196
Celadon Group, Inc. 5,241 101,937
Heartland Express, Inc. 13,569 325,113
Knight Transportation, Inc. 14,915 408,522
Marten Transport, Ltd. 6,069 108,089
P.A.M. Transportation Services, Inc. (I) 805 29,181
Patriot Transportation Holding, Inc. (I) 1,668 56,579
Quality Distribution, Inc. (I) 6,860 87,671
Roadrunner Transportation Systems, Inc. (I) 6,944 158,254
Saia, Inc. (I) 6,193 306,925
Swift Transportation Company (I) 21,319 447,273
Universal Truckload Services, Inc. 1,642 39,819
USA Truck, Inc. (I) 1,567 27,470
Werner Enterprises, Inc. 11,274 284,105
YRC Worldwide, Inc. (I) 7,855 159,614
2,783,748
Trading companies and distributors - 0.9%
Aceto Corp. 7,297 140,978
Aircastle, Ltd. 16,192 264,901
Applied Industrial Technologies, Inc. 10,460 477,499
Beacon Roofing Supply, Inc. (I) 12,354 314,780
CAI International, Inc. (I) 4,110 79,529
DXP Enterprises, Inc. (I) 3,226 237,692
General Finance Corp. (I) 2,774 24,605
H&E Equipment Services, Inc. 7,840 315,795
Houston Wire & Cable Company 4,441 53,203
Kaman Corp. 6,826 268,262
Rush Enterprises, Inc., Class A (I) 8,633 288,774
Stock Building Supply Holdings, Inc. (I) 3,566 56,022
TAL International Group, Inc. (I)(L) 8,521 351,491
Textainer Group Holdings, Ltd. 5,401 168,079
Titan Machinery, Inc. (I)(L) 4,251 55,220
Watsco, Inc. 6,471 557,671
3,654,501
Transportation infrastructure - 0.1%
Wesco Aircraft Holdings, Inc. (I) 13,230 230,202
55,932,406
Information technology - 17.3%
Communications equipment - 1.6%
ADTRAN, Inc. 14,141 290,315
Alliance Fiber Optic Products, Inc. 3,043 37,824
Applied Optoelectronics, Inc. (I) 3,605 58,041
Aruba Networks, Inc. (I) 26,772 577,740
Bel Fuse, Inc., Class B 2,515 62,221
Black Box Corp. 3,937 91,811
CalAmp Corp. (I) 9,116 160,624
Calix, Inc. (I) 10,409 99,614
Ciena Corp. (I) 26,333 440,288
Clearfield, Inc. (I)(L) 2,758 35,109
Comtech Telecommunications Corp. 3,885 144,328
Digi International, Inc. (I) 6,115 45,863
Emulex Corp. (I) 19,644 97,041
Extreme Networks, Inc. (I) 23,949 114,716
Finisar Corp. (I)(L) 24,262 403,477
Harmonic, Inc. (I) 23,465 148,768
Infinera Corp. (I) 30,533 325,787
InterDigital, Inc. 10,141 403,815
Ixia (I) 14,564 133,115
KVH Industries, Inc. (I) 3,977 45,020
NETGEAR, Inc. (I) 9,158 286,188
Numerex Corp., Class A (I) 3,669 38,451
Oclaro, Inc. (I)(L) 23,283 33,295
Oplink Communications, Inc. 4,708 79,189
Parkervision, Inc. (I)(L) 24,325 27,731
Plantronics, Inc. 10,662 509,430
Polycom, Inc. (I) 34,633 425,466
Procera Networks, Inc. (I)(L) 5,198 49,797
Ruckus Wireless, Inc. (I) 16,259 217,220
ShoreTel, Inc. (I) 15,499 103,068

The accompanying notes are an integral part of the financial statements. 198


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Small Cap Index Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
Communications equipment (continued)
Sonus Networks, Inc. (I) 61,968 $ 211,931
Tessco Technologies, Inc. 1,481 42,934
Ubiquiti Networks, Inc. (I)(L) 7,465 280,161
ViaSat, Inc. (I)(L) 10,372 571,705
6,592,083
Electronic equipment, instruments and components - 2.6%
Agilysys, Inc. (I) 3,681 43,178
Anixter International, Inc. 6,809 577,676
Badger Meter, Inc. 3,643 183,789
Belden, Inc. 10,927 699,547
Benchmark Electronics, Inc. (I) 13,507 299,990
Checkpoint Systems, Inc. (I) 10,457 127,889
Cognex Corp. (I) 21,767 876,557
Coherent, Inc. (I) 6,249 383,501
Control4 Corp. (I)(L) 2,829 36,579
CTS Corp. 8,592 136,527
CUI Global, Inc. (I)(L) 5,055 36,598
Daktronics, Inc. 9,454 116,190
DTS, Inc. (I) 4,254 107,414
Electro Rent Corp. 4,086 56,264
Electro Scientific Industries, Inc. 6,156 41,799
Fabrinet (I) 8,927 130,334
FARO Technologies, Inc. (I) 4,345 220,509
FEI Company 10,592 798,849
GSI Group, Inc. (I) 7,780 89,392
II-VI, Inc. (I) 13,172 155,034
Insight Enterprises, Inc. (I) 10,278 232,591
InvenSense, Inc. (I)(L) 17,819 351,569
Itron, Inc. (I) 9,858 387,518
KEMET Corp. (I) 11,394 46,943
Littelfuse, Inc. 5,640 480,415
Maxwell Technologies, Inc. (I) 7,554 65,871
Measurement Specialties, Inc. (I) 4,001 342,526
Mercury Systems, Inc. (I) 8,444 92,968
Mesa Laboratories, Inc. 734 42,411
Methode Electronics, Inc. 9,504 350,412
MTS Systems Corp. 3,799 259,320
Multi-Fineline Electronix, Inc. (I) 2,261 21,140
Newport Corp. (I) 10,022 177,590
OSI Systems, Inc. (I) 4,999 317,337
Park Electrochemical Corp. 5,181 122,013
PC Connection, Inc. 2,481 53,267
Plexus Corp. (I) 8,500 313,905
RealD, Inc. (I)(L) 9,911 92,866
Rofin-Sinar Technologies, Inc. (I) 6,985 161,074
Rogers Corp. (I) 4,540 248,610
Sanmina Corp. (I) 20,633 430,404
ScanSource, Inc. (I) 7,186 248,564
Speed Commerce, Inc. (I) 12,246 33,677
SYNNEX Corp. (I) 7,142 461,587
TTM Technologies, Inc. (I) 13,684 93,188
Universal Display Corp. (I)(L) 10,179 332,243
Viasystems Group, Inc. (I) 1,305 20,489
Vishay Precision Group, Inc. (I) 3,198 47,778
10,945,892
Internet software and services - 2.5%
Aerohive Networks, Inc. (I) 2,394 19,200
Amber Road, Inc. (I) 2,250 39,015
Angie’s List, Inc. (I)(L) 10,726 68,325
Bankrate, Inc. (I) 16,795 190,791
Bazaarvoice, Inc. (I)(L) 12,249 90,520
Benefitfocus, Inc. (I)(L) 1,210 32,597
Blucora, Inc. (I) 10,676 162,702
Borderfree, Inc. (I) 1,512 19,505
Brightcove, Inc. (I) 7,988 44,573
Carbonite, Inc. (I) 4,461 45,681
Care.com, Inc. (I) 1,669 13,602
ChannelAdvisor Corp. (I) 5,304 86,986
comScore, Inc. (I) 8,694 316,549
Constant Contact, Inc. (I) 7,867 213,510
Conversant, Inc. (I) 16,803 575,503
Cornerstone OnDemand, Inc. (I) 13,329 458,651
Cvent, Inc. (I)(L) 4,509 114,393
Dealertrack Technologies, Inc. (I) 13,433 583,127
Demand Media, Inc. (I) 2,029 17,957
Demandware, Inc. (I) 7,535 383,682
Dice Holdings, Inc. (I) 9,723 81,479
Digital River, Inc. (I) 8,054 116,944
E2open, Inc. (I)(L) 5,766 53,681
Earthlink Holdings Corp. 25,747 88,055
Endurance International
       Group Holdings, Inc. (I)(L) 7,574 123,229
Envestnet, Inc. (I) 8,560 385,200
Everyday Health, Inc. (I)(L) 1,767 24,685
Five9, Inc. (I)(L) 3,082 20,156
Global Eagle Entertainment, Inc. (I) 9,627 108,015
Gogo, Inc. (I)(L) 14,017 236,327
GrubHub, Inc. (I)(L) 2,202 75,396
GTT Communications, Inc. (I) 3,550 42,281
Internap Network Services Corp. (I) 13,622 93,992
IntraLinks Holdings, Inc. (I) 9,875 79,988
j2 Global, Inc. (L) 11,928 588,766
Limelight Networks, Inc. (I) 15,194 35,478
Liquidity Services, Inc. (I) 6,176 84,920
LivePerson, Inc. (I) 13,603 171,262
LogMeIn, Inc. (I) 6,087 280,428
Marchex, Inc., Class B 8,150 33,823
Marin Software, Inc. (I)(L) 6,633 57,044
Marketo, Inc. (I)(L) 6,406 206,914
Millennial Media, Inc. (I)(L) 18,363 34,155
Monster Worldwide, Inc. (I) 23,019 126,605
Move, Inc. (I) 9,934 208,217
NIC, Inc. 16,326 281,134
OPOWER, Inc. (I) 1,955 36,871
Perficient, Inc. (I) 8,731 130,878
Q2 Holdings, Inc. (I) 2,492 34,888
QuinStreet, Inc. (I) 8,760 36,354
RealNetworks, Inc. (I) 5,816 40,421
Reis, Inc. 2,067 48,761
Rightside Group, Ltd. (I) 2,094 20,417
Rocket Fuel, Inc. (I)(L) 4,478 70,752
SciQuest, Inc. (I) 6,765 101,746
Shutterstock, Inc. (I)(L) 3,822 272,814
SPS Commerce, Inc. (I) 4,036 214,513
Stamps.com, Inc. (I) 3,570 113,383
TechTarget, Inc. (I) 4,177 35,880
Textura Corp. (I)(L) 4,680 123,552
Travelzoo, Inc. (I) 1,864 28,892
Tremor Video, Inc. (I)(L) 8,429 19,724
TrueCar, Inc. (I)(L) 2,003 35,954
Trulia, Inc. (I)(L) 9,259 452,765
Unwired Planet, Inc. (I) 24,589 45,736
Vistaprint NV (I)(L) 8,350 457,497
Web.com Group, Inc. (I) 13,049 260,458
WebMD Health Corp. (I)(L) 9,761 408,107

The accompanying notes are an integral part of the financial statements. 199


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Small Cap Index Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
Internet software and services (continued)
Wix.com, Ltd. (I)(L) 3,481 $ 56,566
XO Group, Inc. (I) 6,771 75,903
Xoom Corp. (I) 7,818 171,605
Yume, Inc. (I) 4,582 22,910
Zix Corp. (I) 14,883 50,900
10,483,290
IT services - 2.4%
Acxiom Corp. (I) 19,293 319,299
Blackhawk Network Holdings, Inc. (I)(L) 13,254 429,430
CACI International, Inc., Class A (I) 5,889 419,709
Cardtronics, Inc. (I) 11,167 393,078
Cass Information Systems, Inc. 2,931 121,343
CIBER, Inc. (I) 19,471 66,786
Computer Task Group, Inc. 3,775 41,903
Convergys Corp. 25,426 453,091
CSG Systems International, Inc. 8,539 224,405
Datalink Corp. (I) 4,939 52,502
EPAM Systems, Inc. (I) 8,926 390,870
Euronet Worldwide, Inc. (I) 12,772 610,374
EVERTEC, Inc. 16,457 367,649
ExlService Holdings, Inc. (I) 8,222 200,699
Forrester Research, Inc. 2,714 100,038
Global Cash Access Holdings, Inc. (I) 16,526 111,551
Heartland Payment Systems, Inc. 8,981 428,573
Higher One Holdings, Inc. (I) 8,541 21,096
iGATE Corp. (I) 9,268 340,321
Information Services Group, Inc. (I) 8,182 31,092
Lionbridge Technologies, Inc. (I) 16,294 73,323
Luxoft Holding, Inc. (I)(L) 1,968 73,210
ManTech International Corp., Class A 6,067 163,506
MAXIMUS, Inc. 16,966 680,846
ModusLink Global Solutions, Inc. (I)(L) 9,338 33,337
MoneyGram International, Inc. (I) 7,408 92,896
NeuStar, Inc., Class A (I)(L) 14,063 349,184
PRGX Global, Inc. (I) 6,938 40,657
Sapient Corp. (I) 28,729 402,206
Science Applications International Corp. 10,531 465,786
ServiceSource International, Inc. (I)(L) 16,809 54,293
Sykes Enterprises, Inc. (I) 9,932 198,441
Syntel, Inc. (I) 3,886 341,735
TeleTech Holdings, Inc. (I) 4,426 108,791
The Hackett Group, Inc. 6,273 37,387
Unisys Corp. (I) 12,822 300,163
Virtusa Corp. (I) 6,566 233,487
WEX, Inc. (I) 9,712 1,071,428
9,844,485
Semiconductors and semiconductor equipment - 3.7%
Advanced Energy Industries, Inc. (I) 10,214 191,921
Alpha & Omega Semiconductor, Ltd. (I) 5,501 51,709
Ambarella, Inc. (I)(L) 7,222 315,385
Amkor Technology, Inc. (I) 21,535 181,109
Applied Micro Circuits Corp. (I) 19,299 135,093
Audience, Inc. (I)(L) 3,478 25,737
Axcelis Technologies, Inc. (I) 27,575 54,874
Brooks Automation, Inc. 16,763 176,179
Cabot Microelectronics Corp. (I) 6,068 251,519
Cascade Microtech, Inc. (I) 3,115 31,555
Cavium, Inc. (I) 13,250 658,923
CEVA, Inc. (I) 5,267 70,788
Cirrus Logic, Inc. (I) 15,565 324,530
Cohu, Inc. 6,351 76,021
Cypress Semiconductor Corp. (I)(L) 39,569 390,744
Diodes, Inc. (I) 9,141 218,653
DSP Group, Inc. (I) 5,583 49,521
Entegris, Inc. (I) 34,907 401,431
Entropic Communications, Inc. (I) 22,352 59,456
Exar Corp. (I) 9,811 87,808
Fairchild Semiconductor International, Inc. (I) 31,334 486,617
FormFactor, Inc. (I) 13,679 98,078
GT Advanced Technologies, Inc. (I)(L) 34,202 370,408
Inphi Corp. (I) 7,895 113,530
Integrated Device Technology, Inc. (I) 33,497 534,277
Integrated Silicon Solution, Inc. 7,596 104,369
International Rectifier Corp. (I) 17,872 701,297
Intersil Corp., Class A 32,294 458,898
IXYS Corp. 6,123 64,292
Kopin Corp. (I) 16,609 56,471
Lattice Semiconductor Corp. (I) 29,513 221,348
M/A-COM Technology
       Solutions Holdings, Inc. (I) 3,055 66,721
MaxLinear, Inc., Class A (I) 6,804 46,812
Micrel, Inc. 11,048 132,907
Microsemi Corp. (I) 23,818 605,215
MKS Instruments, Inc. 13,415 447,793
Monolithic Power Systems, Inc. 9,682 426,492
Nanometrics, Inc. (I) 5,994 90,509
NVE Corp. (I) 1,215 78,416
OmniVision Technologies, Inc. (I) 14,063 372,107
PDF Solutions, Inc. (I) 7,623 96,126
Peregrine Semiconductor Corp. (I) 6,972 86,244
Pericom Semiconductor Corp. (I) 5,598 54,525
Photronics, Inc. (I) 15,263 122,867
PMC-Sierra, Inc. (I) 43,507 324,562
Power Integrations, Inc. 7,629 411,279
QuickLogic Corp. (I)(L) 13,999 41,857
Rambus, Inc. (I) 28,526 356,004
RF Micro Devices, Inc. (I) 71,749 827,983
Rubicon Technology, Inc. (I) 6,849 29,108
Rudolph Technologies, Inc. (I) 8,343 75,504
Semtech Corp. (I) 16,863 457,830
Silicon Image, Inc. (I) 19,676 99,167
Silicon Laboratories, Inc. (I) 10,899 442,935
Spansion, Inc., Class A (I) 15,140 345,041
Synaptics, Inc. (I) 9,031 661,069
Tessera Technologies, Inc. 13,408 356,385
TriQuint Semiconductor, Inc. (I) 42,958 819,209
Ultra Clean Holdings, Inc. (I) 7,365 65,917
Ultratech, Inc. (I) 6,980 158,795
Veeco Instruments, Inc. (I) 10,046 351,108
Vitesse Semiconductor Corp. (I) 13,916 50,098
Xcerra Corp. (I) 11,946 116,951
15,580,077
Software - 4.1%
A10 Networks, Inc. (I) 3,382 30,810
ACI Worldwide, Inc. (I) 28,521 535,054
Actuate Corp. (I) 11,520 44,928
Advent Software, Inc. 12,898 407,061
American Software, Inc., Class A 6,177 54,481
Aspen Technology, Inc. (I) 23,082 870,653
AVG Technologies NV (I) 8,734 144,810
Barracuda Networks, Inc. (I) 1,995 51,172
Blackbaud, Inc. 11,570 454,585
Bottomline Technologies, Inc. (I) 9,869 272,286
BroadSoft, Inc. (I) 7,231 152,140
Callidus Software, Inc. (I) 11,632 139,817

The accompanying notes are an integral part of the financial statements. 200


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Small Cap Index Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
Software (continued)
CommVault Systems, Inc. (I) 11,831 $ 596,282
Compuware Corp. 55,068 584,271
Comverse, Inc. (I) 5,590 124,825
Covisint Corp. (I) 1,916 7,951
Cyan, Inc. (I) 6,949 21,681
Digimarc Corp. 1,629 33,737
Ebix, Inc. (L) 7,660 108,619
Ellie Mae, Inc. (I) 7,072 230,547
EnerNOC, Inc. (I) 6,750 114,480
Epiq Systems, Inc. 7,785 136,705
ePlus, Inc. (I) 1,298 72,753
Fair Isaac Corp. 8,055 443,831
FleetMatics Group PLC (I)(L) 9,342 284,931
Gigamon, Inc. (I)(L) 5,895 61,721
Glu Mobile, Inc. (I)(L) 22,541 116,537
Guidance Software, Inc. (I)(L) 4,483 30,171
Guidewire Software, Inc. (I) 17,036 755,376
Imperva, Inc. (I)(L) 5,503 158,101
Infoblox, Inc. (I) 13,544 199,774
Interactive Intelligence Group, Inc. (I) 4,200 175,560
Jive Software, Inc. (I) 10,439 60,859
Kofax Ltd. (I)(L) 18,592 143,902
Manhattan Associates, Inc. (I) 18,997 634,880
Mavenir Systems, Inc. (I) 2,851 35,809
Mentor Graphics Corp. 24,275 497,516
MicroStrategy, Inc., Class A (I) 2,275 297,661
Model N, Inc. (I) 4,763 46,963
Monotype Imaging Holdings, Inc. 9,903 280,453
NetScout Systems, Inc. (I) 9,134 418,337
Park City Group, Inc. (I)(L) 2,397 23,634
Paycom Software, Inc. (I) 1,633 27,042
Pegasystems, Inc. 8,915 170,366
Progress Software Corp. (I) 12,903 308,511
Proofpoint, Inc. (I) 9,279 344,622
PROS Holdings, Inc. (I) 5,936 149,587
QAD, Inc., Class A 1,535 28,582
Qlik Technologies, Inc. (I) 22,477 607,778
Qualys, Inc. (I) 5,016 133,426
Rally Software Development Corp. (I)(L) 6,252 75,087
RealPage, Inc. (I)(L) 12,862 199,361
Rosetta Stone, Inc. (I) 5,296 42,633
Sapiens International Corp. NV (I)(L) 6,144 45,466
Seachange International, Inc. (I) 8,519 59,292
Silver Spring Networks, Inc. (I)(L) 8,584 82,836
SS&C Technologies Holdings, Inc. (I) 17,074 749,378
Synchronoss Technologies, Inc. (I) 8,845 404,924
Take-Two Interactive Software, Inc. (I) 20,931 482,878
Tangoe, Inc. (I) 9,765 132,316
TeleCommunication Systems, Inc., Class A (I) 12,108 33,781
Telenav, Inc. (I) 6,844 45,855
The Rubicon Project, Inc. (I)(L) 1,989 23,331
The Ultimate Software Group, Inc. (I) 7,107 1,005,712
TiVo, Inc. (I) 28,799 368,483
Tyler Technologies, Inc. (I) 8,275 731,510
Varonis Systems, Inc. (I)(L) 1,271 26,818
VASCO Data Security International, Inc. (I) 7,380 138,596
Verint Systems, Inc. (I) 14,992 833,705
VirnetX Holding Corp. (I) 10,588 63,528
Vringo, Inc. (I)(L) 19,236 18,182
Zendesk, Inc. (I) 2,849 61,510
17,250,760
Technology hardware, storage and peripherals - 0.4%
Cray, Inc. (I)(L) 10,231 268,461
Dot Hill Systems Corp. (I) 14,517 54,874
Eastman Kodak Company (I) 4,397 96,602
Electronics For Imaging, Inc. (I) 11,679 515,861
Immersion Corp. (I) 7,305 62,677
Intevac, Inc. (I) 5,892 39,300
Nimble Storage, Inc. (I) 2,312 60,043
QLogic Corp. (I) 21,874 200,366
Quantum Corp. (I)(L) 55,132 63,953
Silicon Graphics International Corp. (I) 8,452 78,012
Super Micro Computer, Inc. (I) 8,652 254,542
Violin Memory, Inc. (I) 19,641 95,652
1,790,343
72,486,930
Materials - 4.8%
Chemicals - 2.2%
A. Schulman, Inc. 7,311 264,366
Advanced Emissions Solutions, Inc. (I) 5,364 114,092
American Vanguard Corp. (L) 7,213 80,786
Axiall Corp. 17,531 627,785
Balchem Corp. 7,623 431,233
Calgon Carbon Corp. (I) 13,344 258,607
Chase Corp. 1,686 52,468
Chemtura Corp. (I) 22,706 529,731
Ferro Corp. (I) 18,097 262,226
Flotek Industries, Inc. (I) 13,422 349,912
FutureFuel Corp. 5,556 66,061
Hawkins, Inc. 2,656 95,510
HB Fuller Company 12,552 498,314
Innophos Holdings, Inc. 5,479 301,838
Innospec, Inc. 6,104 219,134
Intrepid Potash, Inc. (I)(L) 14,042 216,949
KMG Chemicals, Inc. 2,387 38,860
Koppers Holdings, Inc. 5,097 169,017
Kraton Performance Polymers, Inc. (I) 8,125 144,706
Kronos Worldwide, Inc. 5,368 73,971
Landec Corp. (I) 6,710 82,198
LSB Industries, Inc. (I) 4,810 171,765
Marrone Bio Innovations, Inc. (I) 3,523 9,371
Minerals Technologies, Inc. 8,642 533,298
Olin Corp. 19,803 500,026
OM Group, Inc. 8,083 209,754
OMNOVA Solutions, Inc. (I) 11,869 63,737
PolyOne Corp. 23,592 839,403
Quaker Chemical Corp. 3,333 238,943
Rentech, Inc. (I) 56,303 96,278
Senomyx, Inc. (I)(L) 10,460 85,772
Sensient Technologies Corp. 12,391 648,669
Stepan Company 4,859 215,642
Taminco Corp. (I) 7,189 187,633
Trecora Resources (I) 4,919 60,897
Tredegar Corp. 6,287 115,744
Tronox, Ltd., Class A 15,404 401,274
Zep, Inc. 5,757 80,713
9,336,683
Construction materials - 0.1%
Headwaters, Inc. (I) 18,325 229,796
U.S. Concrete, Inc. (I)(L) 3,624 94,731
United States Lime & Minerals, Inc. 494 28,716
353,243
Containers and packaging - 0.4%
AEP Industries, Inc. (I) 1,022 38,703

The accompanying notes are an integral part of the financial statements. 201


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Small Cap Index Trust (continued)

Shares or    
Principal          
Amount Value
COMMON STOCKS (continued)    
Containers and packaging (continued)    
Berry Plastics Group, Inc. (I) 22,544 $ 569,011
Graphic Packaging Holding Company (I) 81,935   1,018,452
Myers Industries, Inc. 6,991   123,321
UFP Technologies, Inc. (I) 1,520   33,410
  1,782,897
Metals and mining - 1.4%    
AK Steel Holding Corp. (I)(L) 34,291   274,671
Allied Nevada Gold Corp. (I)(L) 25,720   85,133
AM Castle & Company (I)(L) 4,727   40,369
Ampco-Pittsburgh Corp. 2,088   41,760
Century Aluminum Company (I) 12,895   334,883
Coeur Mining, Inc. (I) 26,102   129,466
Commercial Metals Company 29,527   504,026
Globe Specialty Metals, Inc. 16,030   291,586
Gold Resource Corp. (L) 9,488   48,579
Handy & Harman, Ltd. (I) 1,223   32,116
Haynes International, Inc. 3,075   141,419
Hecla Mining Company (L) 86,105   213,540
Horsehead Holding Corp. (I) 12,594   208,179
Kaiser Aluminum Corp. 4,523   344,743
Materion Corp. 5,102   156,478
Molycorp, Inc. (I)(L) 45,911   54,634
Noranda Aluminum Holding Corp. 11,144   50,371
Olympic Steel, Inc. 2,294   47,188
RTI International Metals, Inc. (I) 7,703   189,956
Schnitzer Steel Industries, Inc., Class A 6,605   158,850
Stillwater Mining Company (I)(L) 30,047   451,606
SunCoke Energy, Inc. (I) 17,501   392,897
U.S. Silica Holdings, Inc. 13,478   842,510
Universal Stainless & Alloy Products, Inc. (I) 1,777   46,842
Walter Energy, Inc. (L) 17,020   39,827
Worthington Industries, Inc. 12,902   480,212
  5,601,841
Paper and forest products - 0.7%    
Boise Cascade Company (I) 9,873   297,572
Clearwater Paper Corp. (I) 5,115   307,463
Deltic Timber Corp. 2,758   171,879
KapStone Paper and Packaging Corp. (I) 21,194   592,796
Louisiana-Pacific Corp. (I)(L) 35,382   480,841
Neenah Paper, Inc. 4,170   223,012
PH Glatfelter Company 10,867   238,531
Resolute Forest Products, Inc. (I) 16,353   255,761
Schweitzer-Mauduit International, Inc. 7,646   315,856
Wausau Paper Corp. 10,589   83,971
  2,967,682
  20,042,346
Telecommunication services - 0.8%    
Diversified telecommunication services - 0.7%    
8x8, Inc. (I) 22,370   149,432
Atlantic Tele-Network, Inc. 2,357   127,042
Cincinnati Bell, Inc. (I) 52,925   178,357
Cogent Communications Group, Inc. 11,679   392,531
Consolidated    
       Communications Holdings, Inc. (L) 10,115   253,381
Enventis Corp. 3,441   62,557
FairPoint Communications, Inc. (I) 5,227   79,294
General Communication, Inc., Class A (I) 8,885   96,935
Globalstar, Inc. (I)(L) 68,907   252,200
Hawaiian Telcom Holdco, Inc. (I)(L) 2,626   67,462
IDT Corp., Class B 4,097   65,798
inContact, Inc. (I) 15,459   134,416
Inteliquent, Inc. 7,994 99,525
Intelsat SA (I) 6,845   117,323
Iridium Communications, Inc. (I)(L) 20,428   180,788
Lumos Networks Corp. 4,597   74,701
magicJack VocalTec, Ltd. (I)(L) 4,536   44,680
ORBCOMM, Inc. (I) 11,167   64,210
Premiere Global Services, Inc. (I) 12,036   144,071
Vonage Holdings Corp. (I) 43,902   143,999
  2,728,702
Wireless telecommunication services - 0.1%    
Boingo Wireless, Inc. (I) 5,851   41,718
Leap Wireless International, Inc. (I) 14,224   35,844
NTELOS Holdings Corp. 4,277   45,507
RingCentral, Inc., Class A (I)(L) 6,895   87,635
Shenandoah Telecommunications Company 6,023   149,431
Spok Holdings, Inc. 5,451   70,918
  431,053
  3,159,755
Utilities - 3.1%    
Electric utilities - 1.2%    
ALLETE, Inc. 10,619   471,377
Cleco Corp. 15,132   728,606
El Paso Electric Company 10,056   367,547
IDACORP, Inc. 12,609   675,968
MGE Energy, Inc. 8,678   323,342
NRG Yield, Inc., Class A (L) 5,970   280,889
Otter Tail Corp. 9,168   244,511
PNM Resources, Inc. 19,978   497,652
Portland General Electric Company 19,605   629,713
The Empire District Electric Company 10,910   263,477
UIL Holdings Corp. 14,176   501,830
Unitil Corp. 3,484   108,318
  5,093,230
Gas utilities - 1.0%    
Chesapeake Utilities Corp. 3,648   151,976
New Jersey Resources Corp. 10,563   533,537
Northwest Natural Gas Company (L) 6,805   287,511
ONE Gas, Inc. 13,031   446,312
Piedmont Natural Gas Company, Inc. (L) 19,532   654,908
South Jersey Industries, Inc. 8,269   441,234
Southwest Gas Corp. 11,655   566,200
The Laclede Group, Inc. 10,815   501,816
WGL Holdings, Inc. 13,014   548,150
  4,131,644
Independent power and renewable electricity producers - 0.3%    
Atlantic Power Corp. (L) 29,556   70,343
Dynegy, Inc. (I) 25,161   726,146
Ormat Technologies, Inc. 4,463   117,243
Pattern Energy Group, Inc. (L) 9,891   305,830
  1,219,562
Multi-utilities - 0.4%    
Avista Corp. 15,078   460,331
Black Hills Corp. 11,189   535,729
NorthWestern Corp. 9,809   444,936
  1,440,996
Water utilities - 0.2%    
American States Water Company 9,756   296,778
Artesian Resources Corp., Class A 1,958   39,434
California Water Service Group 11,977   268,764

The accompanying notes are an integral part of the financial statements. 202


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Small Cap Index Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Water utilities (continued)
Connecticut Water Service, Inc. 2,735 $ 88,888
Middlesex Water Company 4,020 78,792
SJW Corp. 3,922 105,384
York Water Company 3,265 65,300
  943,340
  12,828,772
TOTAL COMMON STOCKS (Cost $292,531,716) $ 402,418,367
 
RIGHTS - 0.0%
Cubist Pharmaceuticals, Inc. (Expiration Date:
       12/31/2016; Strike Price: $10.75) (I) 12,814 1,410
TOTAL RIGHTS (Cost $28,479) $ 1,410
 
WARRANTS - 0.0%
Magnum Hunter Resources Corp. (Expiration
       Date: 04/15/2016; Strike Price: $8.50) (I)(L) 4,505 2,838
TOTAL WARRANTS (Cost $0) $ 2,838
 
SECURITIES LENDING COLLATERAL - 12.3%
John Hancock Collateral
       Investment Trust, 0.1178% (W)(Y) 5,145,903 51,495,566
TOTAL SECURITIES LENDING
COLLATERAL (Cost $50,713,555) $ 51,495,566
 
SHORT-TERM INVESTMENTS - 3.1%
Repurchase agreement - 3.1%
Repurchase Agreement with State Street Corp.  
       dated 09/30/2014 at 0.000% to be
       repurchased at $12,976,000 on 10/01/2014,  
       collateralized by $11,820,000 U.S. Treasury  
       Bonds, 3.750% due 11/15/2043 (valued at  
       $13,238,400, including interest) $ 12,976,000 $ 12,976,000
TOTAL SHORT-TERM INVESTMENTS (Cost $12,976,000) $ 12,976,000
Total Investments (Small Cap Index Trust)
       (Cost $356,249,750) - 111.7% $ 466,894,181
Other assets and liabilities, net - (11.7%) (48,940,918 )
TOTAL NET ASSETS - 100.0% $ 417,953,263
 
Small Cap Opportunities Trust
 
Shares or
Principal
Amount Value
COMMON STOCKS - 99.0%
Consumer discretionary - 11.2%
Auto components - 0.4%
Cooper Tire & Rubber Company 843 $ 24,194
Dana Holding Corp. 918 17,598
Federal-Mogul Holdings Corp. (I) 840 12,491
Fuel Systems Solutions, Inc. (I) 778 6,932
Lear Corp. 5,766 498,240
Modine Manufacturing Company (I) 6,862 81,452
Motorcar Parts of America, Inc. (I) 1,238 33,686
Shiloh Industries, Inc. (I) 1,515 25,770
Spartan Motors, Inc. 7,540 35,212
Standard Motor Products, Inc. 3,972 136,756
Stoneridge, Inc. (I) 3,538 39,873
Strattec Security Corp. 924 75,167
Superior Industries International, Inc. 6,173 108,213
Sypris Solutions, Inc. 1,826 6,008
1,101,592
Automobiles - 0.5%
Thor Industries, Inc. 25,942 1,336,013
Distributors - 0.1%
Core-Mark Holding Company, Inc. 3,952 209,614
VOXX International Corp. (I) 5,131 47,718
Weyco Group, Inc. 1,316 33,045
290,377
Diversified consumer services - 0.8%
Apollo Education Group, Inc. (I) 3,452 86,818
Ascent Capital Group, Inc., Class A (I) 3,168 190,714
Bridgepoint Education, Inc. (I) 3,463 38,647
Career Education Corp. (I) 16,001 81,285
Carriage Services, Inc. 1,797 31,142
DeVry Education Group, Inc. 14,290 611,755
Graham Holdings Company, Class B 1,033 722,676
Lincoln Educational Services Corp. 1,100 3,091
National American University Holdings, Inc. 4,665 14,275
Regis Corp. 8,945 142,762
Service Corp. International 8,314 175,758
Steiner Leisure, Ltd. (I) 996 37,440
Universal Technical Institute, Inc. 3,087 28,863
2,165,226
Hotels, restaurants and leisure - 3.0%
Ambassadors Group, Inc. (I) 4,023 14,885
Ark Restaurants Corp. 64 1,437
Belmond, Ltd., Class A (I) 12,313 143,570
Biglari Holdings, Inc. (I) 376 127,750
BJ’s Restaurants, Inc. (I) 2,755 99,152
Bob Evans Farms, Inc. (L) 4,178 197,787
Canterbury Park Holding Corp. (I) 200 2,042
Churchill Downs, Inc. 2,448 238,680
Cracker Barrel Old Country Store, Inc. 12,362 1,275,635
Darden Restaurants, Inc. (L) 6,325 325,485
DineEquity, Inc. 2,804 228,778
Dover Downs Gaming & Entertainment, Inc. (I) 2,170 2,148
Dover Motorsports, Inc. 400 924
Eldorado Resorts, Inc. (I) 3,164 13,447
Frisch’s Restaurants, Inc. 1,329 37,611
Gaming Partners International Corp. (I) 800 6,752
International Speedway Corp., Class A 4,386 138,773
Isle of Capri Casinos, Inc. (I) 1,807 13,553
Life Time Fitness, Inc. (I) 1,046 52,760
Luby’s, Inc. (I) 6,251 33,255
Marriott Vacations Worldwide Corp. (I) 7,054 447,294
Monarch Casino & Resort, Inc. (I) 1,278 15,221
Papa John’s International, Inc. 35,366 1,414,286
Penn National Gaming, Inc. (I) 16,888 189,314
RCI Hospitality Holdings, Inc. (I) 2,439 26,878
Red Lion Hotels Corp. (I) 3,000 17,070
Red Robin Gourmet Burgers, Inc. (I) 21,857 1,243,663
Ruby Tuesday, Inc. (I) 9,400 55,366
Sonic Corp. (I) 56,116 1,254,754
Speedway Motorsports, Inc. 7,031 119,949
The Marcus Corp. 3,816 60,293
The Wendy’s Company 50,737 419,088
8,217,600

The accompanying notes are an integral part of the financial statements. 203


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Small Cap Opportunities Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Household durables - 1.3%  
Bassett Furniture Industries, Inc. 2,333 $ 31,869
Beazer Homes USA, Inc. (I) 64,852 1,088,217
Cavco Industries, Inc. (I) 606 41,208
CSS Industries, Inc. 976 23,668
D.R. Horton, Inc. 2,151 44,139
Emerson Radio Corp. 4,869 9,641
Ethan Allen Interiors, Inc. (L) 1,271 28,979
Flexsteel Industries, Inc. 1,750 59,028
Helen of Troy, Ltd. (I) 6,044 317,431
Hooker Furniture Corp. 2,555 38,862
La-Z-Boy, Inc. 59,770 1,182,848
Lennar Corp., Class B 1,469 47,096
Lifetime Brands, Inc. 2,931 44,874
M/I Homes, Inc. (I) 2,195 43,505
MDC Holdings, Inc. (L) 1,526 38,638
Meritage Homes Corp. (I) 1,616 57,368
NACCO Industries, Inc., Class A 1,100 54,703
PulteGroup, Inc. 6,078 107,337
Skullcandy, Inc. (I) 5,061 39,425
Skyline Corp. (I) 1,252 5,171
Standard Pacific Corp. (I) 3,094 23,174
Stanley Furniture Company, Inc. (I) 2,340 6,564
The Ryland Group, Inc. 3,752 124,716
Toll Brothers, Inc. (I) 3,749 116,819
Universal Electronics, Inc. (I) 1,910 94,297
3,669,577
Internet and catalog retail - 0.1%
1-800-Flowers.com, Inc., Class A (I) 4,819 34,649
Gaiam, Inc., Class A (I) 2,576 18,908
Geeknet, Inc. (I) 1,183 11,002
Liberty Tripadvisor Holdings, Inc. (I) 1,885 63,902
Liberty Ventures, Series A (I) 2,225 84,461
Shutterfly, Inc. (I) 807 39,333
252,255
Leisure products - 0.1%
Callaway Golf Company 14,553 105,364
Escalade, Inc. 3,529 42,560
JAKKS Pacific, Inc. (I)(L) 2,278 16,174
Johnson Outdoors, Inc., Class A 2,170 56,203
220,301
Media - 0.8%
AH Belo Corp., Class A 4,238 45,219
Ballantyne Strong, Inc. (I) 1,114 4,957
Beasley Broadcasting Group, Inc., Class A 502 2,691
Cumulus Media, Inc., Class A (I) 15,145 61,034
Entercom Communications Corp., Class A (I) 7,530 60,466
FAB Universal Corp. (I) 1,100 979
Gannett Company, Inc. 13,520 401,138
Gray Television, Inc. (I) 10,200 80,376
Harte-Hanks, Inc. 8,315 52,967
John Wiley & Sons, Inc., Class A 1,531 85,904
Journal Communications, Inc., Class A (I) 8,698 73,324
Meredith Corp. 2,100 89,880
Nexstar Broadcasting Group, Inc., Class A 26,186 1,058,438
Radio One, Inc., Class D (I)(L) 2,400 7,632
Salem Communications Corp., Class A 4,439 33,781
Scholastic Corp. 1,457 47,090
Sizmek, Inc. (I) 2,300 17,802
The EW Scripps Company, Class A (I) 6,715 109,522
The McClatchy Company, Class A (I)(L) 8,440 28,358
2,261,558
Multiline retail - 0.2%
Big Lots, Inc. 700 30,135
Dillard’s, Inc., Class A 3,408 371,404
Fred’s, Inc., Class A 6,647 93,058
Gordmans Stores, Inc. (I)(L) 3,030 10,363
504,960
Specialty retail - 3.0%
Aaron’s, Inc. 16,868 410,230
Abercrombie & Fitch Company, Class A 2,258 82,056
America’s Car-Mart, Inc. (I) 846 33,493
American Eagle Outfitters, Inc. (L) 1,997 28,996
ANN, Inc. (I) 28,629 1,177,511
AutoNation, Inc. (I) 209 10,515
Barnes & Noble, Inc. (I) 9,769 192,840
bebe stores, Inc. 7,863 18,242
Big 5 Sporting Goods Corp. 1,104 10,344
Books-A-Million, Inc. (I) 3,850 6,545
Brown Shoe Company, Inc. 7,015 190,317
Build-A-Bear Workshop, Inc. (I) 3,889 50,868
Chico’s FAS, Inc. 7,593 112,149
Christopher & Banks Corp. (I) 488 4,826
Citi Trends, Inc. (I) 3,741 82,676
Conn’s, Inc. (I) 76 2,301
Foot Locker, Inc. 7,447 414,426
GameStop Corp., Class A (L) 4,057 167,148
Genesco, Inc. (I) 1,798 134,401
GNC Holdings, Inc., Class A 24,941 966,214
Group 1 Automotive, Inc. 4,596 334,175
Guess?, Inc. 503 11,051
Haverty Furniture Companies, Inc. 3,990 86,942
hhgregg, Inc. (I)(L) 2,951 18,621
MarineMax, Inc. (I) 4,789 80,695
New York & Company, Inc. (I) 5,638 17,083
Office Depot, Inc. (I) 31,041 159,551
Penske Automotive Group, Inc. 36,188 1,468,871
Perfumania Holdings, Inc. (I) 848 5,385
Pier 1 Imports, Inc. 49,313 586,332
Rent-A-Center, Inc. 7,876 239,037
Shoe Carnival, Inc. 3,229 57,508
Signet Jewelers, Ltd. 442 50,348
Sonic Automotive, Inc., Class A 1,811 44,388
Stage Stores, Inc. 5,877 100,555
Stein Mart, Inc. 4,251 49,099
Systemax, Inc. (I) 8,734 108,913
Tandy Leather Factory, Inc. 1,690 15,971
The Cato Corp., Class A 1,957 67,438
The Children’s Place Retail Stores, Inc. 621 29,597
The Finish Line, Inc., Class A 3,829 95,840
The Men’s Wearhouse, Inc. 7,100 335,262
The Pep Boys - Manny, Moe & Jack (I) 11,993 106,858
Trans World Entertainment Corp. 6,243 22,849
Vitamin Shoppe, Inc. (I) 51 2,264
West Marine, Inc. (I) 5,421 48,789
Zumiez, Inc. (I) 400 11,240
8,250,760
Textiles, apparel and luxury goods - 0.9%
Charles & Colvard, Ltd. (I) 3,400 7,208
Columbia Sportswear Company (L) 45,014 1,610,601
Crocs, Inc. (I) 930 11,699
Culp, Inc. 1,603 29,094
Delta Apparel, Inc. (I) 500 4,545
G-III Apparel Group, Ltd. (I) 1,383 114,595
Iconix Brand Group, Inc. (I) 8,941 330,281

The accompanying notes are an integral part of the financial statements. 204


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Small Cap Opportunities Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Textiles, apparel and luxury goods (continued)  
Lakeland Industries, Inc. (I) 1,110 $ 7,715
Movado Group, Inc. 3,138 103,742
Perry Ellis International, Inc. (I) 2,800 56,980
Rocky Brands, Inc. 1,478 20,825
Skechers U.S.A., Inc., Class A (I) 4,166 222,089
Superior Uniform Group, Inc. 1,713 37,086
Unifi, Inc. (I) 3,647 94,457
2,650,917
30,921,136
Consumer staples - 2.0%
Beverages - 0.1%
Coca-Cola Bottling Company Consolidated 1,135 84,705
Craft Brew Alliance, Inc. (I) 2,909 41,890
MGP Ingredients, Inc. 2,764 36,125
162,720
Food and staples retailing - 0.7%
Casey’s General Stores, Inc. 552 39,578
Ingles Markets, Inc., Class A 3,007 71,236
SpartanNash Company 6,227 121,115
The Andersons, Inc. 3,784 237,938
The Pantry, Inc. (I) 5,400 109,242
United Natural Foods, Inc. (I) 16,986 1,043,960
Village Super Market, Inc., Class A 685 15,604
Weis Markets, Inc. 5,260 205,298
1,843,971
Food products - 1.1%
Alico, Inc. 341 12,992
B&G Foods, Inc. 830 22,867
Boulder Brands, Inc. (I) 9,489 129,335
Cal-Maine Foods, Inc. 1,844 164,725
Chiquita Brands International, Inc. (I) 7,667 108,871
Dean Foods Company 3,317 43,950
Farmer Brothers Company (I) 1,033 29,905
Fresh Del Monte Produce, Inc. 9,412 300,243
Ingredion, Inc. 1,609 121,946
John B. Sanfilippo & Son, Inc. 2,004 64,849
Omega Protein Corp. (I) 4,487 56,088
Pinnacle Foods, Inc. 692 22,594
Post Holdings, Inc. (I) 6,222 206,446
Sanderson Farms, Inc. (L) 2,059 181,089
Seaboard Corp. 58 155,149
Seneca Foods Corp., Class A (I) 1,409 40,297
Snyder’s-Lance, Inc. 6,364 168,646
TreeHouse Foods, Inc. (I) 15,636 1,258,698
3,088,690
Household products - 0.0%
Central Garden & Pet Company (I) 2,553 19,786
Central Garden & Pet Company, Class A (I) 7,962 64,014
Oil-Dri Corp. of America 531 13,843
Orchids Paper Products Company 1,176 28,883
126,526
Personal products - 0.0%
CCA Industries, Inc. (I) 1,277 4,150
Inter Parfums, Inc. 1,132 31,130
Mannatech, Inc. (I) 276 4,303
Natural Alternatives International, Inc. (I) 200 1,296
Nutraceutical International Corp. (I) 2,093 43,765
84,644
Tobacco - 0.1%
Alliance One International, Inc. (I) 14,184 27,942
Universal Corp. 3,597 159,671
187,613
5,494,164
Energy - 9.3%
Energy equipment and services - 4.8%
Atwood Oceanics, Inc. (I) 6,364 278,043
Basic Energy Services, Inc. (I) 9,528 206,662
Bolt Technology Corp. 1,328 29,136
Bristow Group, Inc. 5,929 398,429
C&J Energy Services, Inc. (I) 1,651 50,438
Cal Dive International, Inc. (I)(L) 2,862 2,776
Dawson Geophysical Company 1,653 30,052
Diamond Offshore Drilling, Inc. (L) 383 13,125
Dresser-Rand Group, Inc. (I) 17,595 1,447,365
ENGlobal Corp. (I) 4,600 9,890
Era Group, Inc. (I) 4,560 99,180
Exterran Holdings, Inc. 12,331 546,387
Forbes Energy Services, Ltd. (I) 5,164 20,811
Forum Energy Technologies, Inc. (I) 42,946 1,314,577
Gulf Island Fabrication, Inc. 3,019 51,927
Gulfmark Offshore, Inc., Class A 5,053 158,412
Helix Energy Solutions Group, Inc. (I) 66,085 1,457,835
Hercules Offshore, Inc. (I)(L) 20,985 46,167
Hornbeck Offshore Services, Inc. (I) 5,300 173,469
Key Energy Services, Inc. (I) 30,610 148,152
Matrix Service Company (I) 2,731 65,872
McDermott International, Inc. (I) 20,409 116,739
Mitcham Industries, Inc. (I) 2,431 26,863
Nabors Industries, Ltd. 34,704 789,863
Natural Gas Services Group, Inc. (I) 2,620 63,063
Newpark Resources, Inc. (I) 12,359 153,746
Noble Corp. PLC 6,354 141,186
Nuverra Environmental Solutions, Inc. (I) 37 546
Oil States International, Inc. (I) 319 19,746
Pacific Drilling SA (I) 34,499 285,307
Parker Drilling Company (I) 22,288 110,103
Patterson-UTI Energy, Inc. 23,683 770,408
PHI, Inc. (I) 443 18,243
PHI, Inc. (I) 3,660 150,609
Pioneer Energy Services Corp. (I) 13,400 187,868
Precision Drilling Corp. 126,108 1,360,705
Rowan Companies PLC, Class A 15,569 394,051
SEACOR Holdings, Inc. (I) 3,829 286,409
Superior Energy Services, Inc. 15,724 516,848
Tesco Corp. 9,436 187,305
TETRA Technologies, Inc. (I) 11,674 126,313
TGC Industries, Inc. (I) 2,555 9,837
Tidewater, Inc. 8,035 313,606
Unit Corp. (I) 9,506 557,527
Willbros Group, Inc. (I) 7,146 59,526
13,195,122
Oil, gas and consumable fuels - 4.5%
Adams Resources & Energy, Inc. 724 32,066
Alon USA Energy, Inc. 7,477 107,370
Alpha Natural Resources, Inc. (I)(L) 17,721 43,948
Approach Resources, Inc. (I) 366 5,307
Bill Barrett Corp. (I)(L) 4,721 104,051
Bonanza Creek Energy, Inc. (I) 3,889 221,284
Callon Petroleum Company (I) 9,369 82,541
Carrizo Oil & Gas, Inc. (I) 3,951 212,643

The accompanying notes are an integral part of the financial statements. 205


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Small Cap Opportunities Trust (continued)

Shares or
Principal     
Amount Value
COMMON STOCKS (continued)
Oil, gas and consumable fuels (continued)  
Clayton Williams Energy, Inc. (I) 1,167 $ 112,557
Cloud Peak Energy, Inc. (I) 3,741 47,211
Comstock Resources, Inc. 9,273 172,663
Contango Oil & Gas Company (I) 3,786 125,847
Delek US Holdings, Inc. 9,835 325,735
Denbury Resources, Inc. 38,287 575,454
DHT Holdings, Inc. 1,653 10,182
Energy XXI Bermuda, Ltd. (L) 22,008 249,791
Enlink Midstream LLC 367 15,168
Escalera Resources Company (I) 2,117 4,022
GasLog, Ltd. 172 3,786
Gastar Exploration, Inc. (I) 1,880 11,036
Green Plains Renewable Energy, Inc. 7,544 282,070
Harvest Natural Resources, Inc. (I)(L) 5,978 21,939
Kodiak Oil & Gas Corp. (I) 2,188 29,691
Matador Resources Company (I) 808 20,887
Miller Energy Resources, Inc. (I) 13 57
Newfield Exploration Company (I) 23,906 886,195
Northern Oil and Gas, Inc. (I)(L) 14,231 202,365
Oasis Petroleum, Inc. (I) 597 24,961
Overseas Shipholding Group, Inc. (I) 4,700 15,548
Panhandle Oil and Gas, Inc., Class A 1,255 74,924
PBF Energy, Inc., Class A 517 12,408
PDC Energy, Inc. (I) 3,720 187,079
Peabody Energy Corp. (L) 27,624 341,985
Penn Virginia Corp. (I) 14,914 189,557
QEP Resources, Inc. 27,153 835,769
Renewable Energy Group, Inc. (I) 2,214 22,472
Rex Energy Corp. (I) 5,655 71,649
Rosetta Resources, Inc. (I) 22,217 989,990
SandRidge Energy, Inc. (I)(L) 88,358 379,056
Scorpio Tankers, Inc. 169,442 1,408,063
SemGroup Corp., Class A 19,522 1,625,597
Ship Finance International, Ltd. (L) 1,300 21,996
SM Energy Company 895 69,810
Stone Energy Corp. (I) 9,615 301,526
Swift Energy Company (I)(L) 6,984 67,046
Triangle Petroleum Corp. (I)(L) 2,529 27,844
Ultra Petroleum Corp. (I) 59,780 1,390,483
VAALCO Energy, Inc. (I) 8,997 76,475
W&T Offshore, Inc. 8,147 89,617
Warren Resources, Inc. (I) 16,948 89,824
Western Refining, Inc. 1,053 44,215
WPX Energy, Inc. (I) 2,892 69,582
12,333,342
25,528,464
Financials - 22.1%
Banks - 7.5%
1st Source Corp. 3,630 103,382
1st United Bancorp, Inc. 1,425 12,141
Access National Corp. 1,661 26,958
American National Bankshares, Inc. 1,848 42,042
American River Bankshares (I) 2,249 20,578
Ameris Bancorp 3,287 72,150
Associated Banc-Corp. 23,411 407,820
BancFirst Corp. 1,402 87,709
BancorpSouth, Inc. 34,862 702,121
Bank of Commerce Holdings 3,606 22,141
Bank of Kentucky Financial Corp. 1,208 55,846
Banner Corp. 2,172 83,557
Bar Harbor Bankshares 1,000 28,930
BBCN Bancorp, Inc. 8,868 129,384
BCB Bancorp, Inc. 1,477 19,644
Boston Private Financial Holdings, Inc. 9,773 121,087
Bridge Capital Holdings (I) 564 12,825
Bryn Mawr Bank Corp. 1,969 55,782
C&F Financial Corp. 627 20,860
Camden National Corp. 1,148 40,180
Capital Bank Financial Corp., Class A (I) 46 1,098
Capital City Bank Group, Inc. 3,946 53,429
Cardinal Financial Corp. 4,331 73,930
Cathay General Bancorp 9,018 223,917
Centerstate Banks, Inc. 3,102 32,106
Central Pacific Financial Corp. 3,754 67,309
Century Bancorp, Inc., Class A 836 28,942
Chemical Financial Corp. 3,570 95,997
Chemung Financial Corp. 966 27,135
City Holding Company 2,400 101,112
CNB Financial Corp. 1,962 30,803
CoBiz Financial, Inc. 5,646 63,122
Columbia Banking System, Inc. 4,112 102,019
Community Bank Systems, Inc. 3,485 117,061
Community Trust Bancorp, Inc. 2,447 82,293
ConnectOne Bancorp, Inc. 1,429 27,222
CVB Financial Corp. 92,241 1,323,658
East West Bancorp, Inc. 43,313 1,472,642
Eastern Virginia Bankshares, Inc. (I) 2,996 18,635
Enterprise Bancorp, Inc. 236 4,446
Enterprise Financial Services Corp. 2,969 49,642
Farmers Capital Bank Corp. (I) 1,551 34,944
Fidelity Southern Corp. 3,081 42,210
Financial Institutions, Inc. 1,481 33,293
First Bancorp North Carolina 4,396 70,424
First BanCorp Puerto Rico (I) 40,964 194,579
First Bancorp, Inc. 1,769 29,489
First Busey Corp. 12,619 70,288
First Business Financial Services, Inc. 683 29,984
First Citizens BancShares, Inc., Class A (L) 1,399 303,065
First Commonwealth Financial Corp. 15,940 133,737
First Community Bancshares, Inc. 4,630 66,163
First Connecticut Bancorp, Inc. 3,963 57,464
First Financial Bancorp 4,968 78,643
First Financial Corp. 1,877 58,093
First Interstate Bancsystem, Inc. 1,660 44,106
First Merchants Corp. 4,679 94,563
First Midwest Bancorp, Inc. 7,500 120,675
First Niagara Financial Group, Inc. 49,532 412,602
First South Bancorp, Inc. 1,628 13,122
Flushing Financial Corp. 4,247 77,593
FNB Corp. 13,426 160,978
Fulton Financial Corp. 18,259 202,310
German American Bancorp, Inc. 1,901 49,065
Glacier Bancorp, Inc. 53,593 1,385,915
Great Southern Bancorp, Inc. 2,054 62,318
Guaranty Bancorp 3,284 44,367
Hancock Holding Company 308 9,871
Hanmi Financial Corp. 4,672 94,188
Heartland Financial USA, Inc. 2,428 57,981
Heritage Commerce Corp. 2,996 24,597
Heritage Financial Corp. 1,481 23,459
Horizon Bancorp 1,444 33,270
Hudson Valley Holding Corp. 2,926 53,107
Iberiabank Corp. 23,624 1,476,736
Independent Bank Corp. 2,831 101,123
Independent Bank Corp. (MI) 206 2,456

The accompanying notes are an integral part of the financial statements. 206


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Small Cap Opportunities Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Banks (continued)
International Bancshares Corp. 8,607 $ 212,292
Intervest Bancshares Corp. 1,311 12,533
Lakeland Bancorp, Inc. 4,261 41,587
Lakeland Financial Corp. 2,332 87,450
LNB Bancorp, Inc. 2,266 32,381
Macatawa Bank Corp. (L) 8,394 40,291
MainSource Financial Group, Inc. 4,125 71,156
MB Financial, Inc. 9,932 274,918
MBT Financial Corp. (I) 3,223 15,503
Mercantile Bank Corp. 1,266 24,117
Merchants Bancshares, Inc. 1,017 28,669
Metro Bancorp, Inc. (I) 2,159 52,356
MidSouth Bancorp, Inc. 1,822 34,071
MidWestOne Financial Group, Inc. 1,343 30,902
National Penn Bancshares, Inc. 20,821 202,172
NBT Bancorp, Inc. 3,823 86,094
NewBridge Bancorp (I) 2,707 20,546
North Valley Bancorp (I) 1,148 24,774
Northrim BanCorp, Inc. 1,530 40,438
Norwood Financial Corp. 792 22,699
OFG Bancorp (L) 6,515 97,595
Old National Bancorp 8,638 112,035
Old Second Bancorp, Inc. (I) 2,721 13,088
OmniAmerican Bancorp, Inc. 1,342 34,879
Pacific Continental Corp. 2,749 35,325
Pacific Mercantile Bancorp (I) 2,510 17,495
Pacific Premier Bancorp, Inc. (I) 2,434 34,198
PacWest Bancorp 38,249 1,577,006
Park Sterling Corp. 10,501 69,622
Peapack Gladstone Financial Corp. 1,625 28,438
Penns Woods Bancorp, Inc. 792 33,462
Peoples Bancorp, Inc. 2,153 51,134
Pinnacle Financial Partners, Inc. 5,876 212,124
Popular, Inc. (I) 968 28,493
Preferred Bank 1,883 42,405
Premier Financial Bancorp, Inc. 2,052 30,041
PrivateBancorp, Inc. 6,906 206,558
Prosperity Bancshares, Inc. 411 23,497
QCR Holdings, Inc. 1,521 26,876
Renasant Corp. 4,209 113,853
Republic Bancorp, Inc., Class A 4,422 104,757
Republic First Bancorp, Inc. (I) 6,323 24,596
S&T Bancorp, Inc. 4,287 100,573
Sandy Spring Bancorp, Inc. 3,480 79,657
Shore Bancshares, Inc. (I) 2,225 20,025
Sierra Bancorp 2,175 36,453
Simmons First National Corp., Class A 2,414 92,987
South State Corp. 434 24,269
Southern Community Financial Corp. (I) 3,274 720
Southern National Bancorp of Virginia, Inc. 1,959 22,705
Southwest Bancorp, Inc. 4,604 75,506
Sterling Bancorp 3,771 48,231
Stock Yards Bancorp, Inc. 2,115 63,662
Suffolk Bancorp 1,938 37,617
Sun Bancorp, Inc. (I) 948 17,168
Susquehanna Bancshares, Inc. 34,060 340,600
Synovus Financial Corp. 820 19,385
TCF Financial Corp. 8,999 139,754
The Bancorp, Inc. (I) 3,062 26,303
Tompkins Financial Corp. 2,251 99,224
TowneBank (L) 2,772 37,644
Trico Bancshares (L) 2,375 53,723
Trustmark Corp. 5,808 133,787
UMB Financial Corp. 182 9,928
Umpqua Holdings Corp. 1,282 21,115
Union Bankshares Corp. 6,132 141,649
Union Bankshares, Inc. 798 19,352
United Bankshares, Inc. (L) 1,157 35,786
Univest Corp. of Pennsylvania 3,806 71,363
ViewPoint Financial Group, Inc. 3,326 79,624
Washington Trust Bancorp, Inc. 2,598 85,708
Webster Financial Corp. 3,613 105,283
WesBanco, Inc. 4,870 148,973
West Bancorp, Inc. 2,345 33,135
Western Alliance Bancorp (I) 58,579 1,400,038
Wintrust Financial Corp. 7,349 328,280
Yadkin Financial Corp. (I) 420 7,627
Zions Bancorporation 22,683 659,168
20,697,881
Capital markets - 3.1%
Artisan Partners Asset
       Management, Inc., Class A 23,103 1,202,511
Calamos Asset Management, Inc., Class A 4,844 54,592
Capital Southwest Corp. 2,931 104,842
Cowen Group, Inc., Class A (I) 27,926 104,723
E*TRADE Financial Corp. (I) 109,576 2,475,322
Evercore Partners, Inc., Class A 26,104 1,226,888
GFI Group, Inc. 19,435 105,143
Harris & Harris Group, Inc. (I) 5,338 15,907
INTL. FCStone, Inc. (I) 4,806 83,240
Investment Technology Group, Inc. (I) 2,461 38,785
Janus Capital Group, Inc. 124,466 1,809,736
JMP Group, Inc. 4,808 30,146
Legg Mason, Inc. 20,082 1,027,395
MCG Capital Corp. 14,059 49,488
Medallion Financial Corp. 2,675 31,191
Oppenheimer Holdings, Inc., Class A 3,213 65,063
Piper Jaffray Companies (I) 800 41,792
SWS Group, Inc. (I)(L) 6,700 46,163
8,512,927
Consumer finance - 0.2%
Asta Funding, Inc. 2,925 24,014
Cash America International, Inc. 3,600 157,680
Encore Capital Group, Inc. (I)(L) 2,320 102,799
Imperial Holdings, Inc. (I)(L) 4,663 30,076
Navient Corp. 3,546 62,800
Nelnet, Inc., Class A 4,156 179,082
Nicholas Financial, Inc. 75 869
The First Marblehead Corp. (I) 834 2,369
559,689
Diversified financial services - 0.7%
California First National Bancorp 1,653 24,531
Interactive Brokers Group, Inc., Class A 3,648 91,018
Marlin Business Services Corp. 1,698 31,107
MicroFinancial, Inc. 2,519 20,303
NewStar Financial, Inc. (I) 11,166 125,506
PHH Corp. (I) 10,506 234,914
PICO Holdings, Inc. (I) 5,428 108,289
Resource America, Inc., Class A 3,450 32,120
The NASDAQ OMX Group, Inc. 27,037 1,146,910
1,814,698
Insurance - 6.5%
Alleghany Corp. (I) 1,828 764,378
Allied World Assurance Company Holdings AG 14,175 522,207

The accompanying notes are an integral part of the financial statements. 207


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Small Cap Opportunities Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Insurance (continued)
Ambac Financial Group, Inc. (I) 1,384 $ 30,586
American Equity Investment Life
       Holding Company 12,334 282,202
American Financial Group, Inc. 37,975 2,198,373
American Independence Corp. (I) 1,482 15,591
American National Insurance Company 3,816 428,918
AMERISAFE, Inc. 2,629 102,820
Argo Group International Holdings, Ltd. 5,107 256,933
Aspen Insurance Holdings, Ltd. 11,100 474,747
Assurant, Inc. 11,377 731,541
Assured Guaranty, Ltd. 29,501 653,742
Axis Capital Holdings, Ltd. 15,915 753,257
Baldwin & Lyons, Inc., Class B 2,973 73,433
CNO Financial Group, Inc. 40,256 682,742
Donegal Group, Inc., Class A 4,559 70,026
EMC Insurance Group, Inc. 3,026 87,391
Employers Holdings, Inc. 2,717 52,302
Endurance Specialty Holdings, Ltd. 7,972 439,895
Enstar Group, Ltd. (I) 1,114 151,860
Everest Re Group, Ltd. 471 76,307
FBL Financial Group, Inc., Class A 4,766 213,040
Federated National Holding Company 1,090 30,618
First Acceptance Corp. (I) 7,986 19,885
First American Financial Corp. 18,553 503,157
Fortegra Financial Corp. (I) 4,391 43,427
Genworth Financial, Inc., Class A (I) 28,152 368,791
Global Indemnity PLC (I) 2,945 74,302
Greenlight Capital Re, Ltd., Class A (I) 2,616 84,785
Hallmark Financial Services, Inc. (I) 4,008 41,322
HCC Insurance Holdings, Inc. 1,999 96,532
Horace Mann Educators Corp. 7,361 209,862
Independence Holding Company 3,958 52,602
Investors Title Company 438 32,062
Kemper Corp. 10,243 349,798
Maiden Holdings, Ltd. 14,084 156,051
MBIA, Inc. (I) 22,405 205,678
Meadowbrook Insurance Group, Inc. 8,411 49,204
Mercury General Corp. 529 25,820
Montpelier Re Holdings, Ltd. 3,588 111,551
National Interstate Corp. 264 7,366
National Western Life Insurance
       Company, Class A 888 219,345
Old Republic International Corp. 13,648 194,893
OneBeacon Insurance Group, Ltd., Class A 2,200 33,902
PartnerRe, Ltd. 6,393 702,527
Platinum Underwriters Holdings, Ltd. 5,400 328,698
ProAssurance Corp. 998 43,982
Protective Life Corp. 12,075 838,126
Reinsurance Group of America, Inc. 1,892 151,606
RenaissanceRe Holdings, Ltd. 239 23,898
Safety Insurance Group, Inc. 2,275 122,645
Selective Insurance Group, Inc. 5,508 121,947
StanCorp Financial Group, Inc. 25,365 1,602,561
State Auto Financial Corp. 4,187 85,875
Stewart Information Services Corp. 4,753 139,501
Symetra Financial Corp. 20,782 484,844
The Hanover Insurance Group, Inc. 7,058 433,502
The Navigators Group, Inc. (I) 2,644 162,606
The Phoenix Companies, Inc. (I) 1,081 60,601
United Fire Group, Inc. 2,908 80,755
Universal Insurance Holdings, Inc. 2,064 26,688
Validus Holdings, Ltd. 13,176 515,709
W.R. Berkley Corp. 2,262 108,124
White Mountains Insurance Group, Ltd. 24 15,122
18,022,561
Real estate investment trusts - 1.5%
Cousins Properties, Inc. 112,100 1,339,595
LaSalle Hotel Properties 45,111 1,544,601
The Geo Group, Inc. 33,884 1,295,046
4,179,242
Real estate management and development - 1.1%
AV Homes, Inc. (I) 1,798 26,341
Consolidated-Tomoka Land Company 500 24,535
Forestar Group, Inc. (I) 1,413 25,038
Griffin Land & Nurseries, Inc. 892 25,600
Jones Lang LaSalle, Inc. 12,965 1,637,998
Kennedy-Wilson Holdings, Inc. 56,261 1,348,014
Stratus Properties, Inc. (I) 1,025 14,350
3,101,876
Thrifts and mortgage finance - 1.5%
Alliance Bancorp, Inc. of Pennsylvania 1,263 20,044
ASB Bancorp, Inc. (I) 799 16,100
Astoria Financial Corp. 18,702 231,718
Bank Mutual Corp. 10,661 68,337
BankFinancial Corp. 4,835 50,187
BBX Capital Corp., Class A (I) 879 15,321
Beneficial Mutual Bancorp, Inc. (I) 2,460 31,439
Berkshire Hills Bancorp, Inc. 3,823 89,802
Brookline Bancorp, Inc. 16,329 139,613
Cape Bancorp, Inc. 2,925 27,583
Capitol Federal Financial, Inc. 24,655 291,422
Chicopee Bancorp, Inc. 1,416 21,013
Dime Community Bancshares, Inc. 5,215 75,096
Doral Financial Corp. (I) 285 1,892
ESB Financial Corp. 2,605 30,426
ESSA Bancorp, Inc. 2,461 27,809
EverBank Financial Corp. 1,129 19,938
Federal Agricultural Mortgage Corp., Class C 1,713 55,056
First Defiance Financial Corp. 2,186 59,044
First Financial Northwest, Inc. 3,879 39,605
Flagstar Bancorp, Inc. (I) 10,983 184,844
Fox Chase Bancorp, Inc. 2,071 33,778
Franklin Financial Corp. (I) 3,038 56,537
Hampden Bancorp, Inc. 1,142 19,631
Heritage Financial Group, Inc. 1,953 39,431
HF Financial Corp. 1,526 20,509
Hingham Institution for Savings 425 34,659
Home Bancorp, Inc. (I) 1,668 37,880
HopFed Bancorp, Inc. 1,799 20,581
Hudson City Bancorp, Inc. 10,866 105,618
Kearny Financial Corp. (I) 3,900 51,987
Louisiana Bancorp, Inc. 100 1,986
Meta Financial Group, Inc. 965 34,026
New Hampshire Thrift Bancshares, Inc. 1,485 23,136
New York Community Bancorp, Inc. (L) 15,713 249,365
Northeast Community Bancorp, Inc. 1,932 13,389
Northfield Bancorp, Inc. 13,676 186,267
Northwest Bancshares, Inc. 7,698 93,146
OceanFirst Financial Corp. 2,476 39,393
Oritani Financial Corp. 7,033 99,095
People’s United Financial, Inc. 40,405 584,660
Provident Financial Holdings, Inc. 1,778 25,941
Provident Financial Services, Inc. 4,245 69,491
Prudential Bancorp, Inc. 1,696 20,657

The accompanying notes are an integral part of the financial statements. 208


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Small Cap Opportunities Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Thrifts and mortgage finance (continued)
Pulaski Financial Corp. 1,912 $ 21,988
Riverview Bancorp, Inc. (I) 5,483 21,877
SI Financial Group, Inc. 2,433 27,225
Simplicity Bancorp, Inc. 1,732 29,098
Southern Missouri Bancorp, Inc. 506 18,150
Territorial Bancorp, Inc. 1,722 34,939
TF Financial Corp. 455 18,869
TierOne Corp. (I) 2,328 1
TrustCo Bank Corp. 13,738 88,473
United Community Financial Corp. 10,961 51,297
United Financial Bancorp, Inc. 4,950 62,816
Walker & Dunlop, Inc. (I) 1,536 20,413
Washington Federal, Inc. 8,550 174,078
Waterstone Financial, Inc. 3,678 42,481
Westfield Financial, Inc. 4,152 29,313
WSFS Financial Corp. 1,423 101,901
4,100,371
60,989,245
Health care - 11.1%
Biotechnology - 0.5%
Cubist Pharmaceuticals, Inc. (I) 18,977 1,258,934
Emergent Biosolutions, Inc. (I) 5,391 114,882
Harvard
       Apparatus Regenerative Technology, Inc. (I) 1,640 13,284
Repligen Corp. (I) 1,386 27,595
Targacept, Inc. (I) 5,553 14,049
1,428,744
Health care equipment and supplies - 2.5%
Alere, Inc. (I) 53,224 2,064,027
Alphatec Holdings, Inc. (I) 8,403 14,285
Analogic Corp. 1,049 67,094
AngioDynamics, Inc. (I) 8,277 113,560
Anika Therapeutics, Inc. (I) 2,023 74,163
CONMED Corp. 3,500 128,940
CryoLife, Inc. 4,002 39,500
Cynosure, Inc., Class A (I) 1,525 32,025
Digirad Corp. 3,100 12,183
Exactech, Inc. (I) 1,991 45,574
Globus Medical, Inc., Class A (I) 58,161 1,144,027
Greatbatch, Inc. (I) 3,939 167,841
Haemonetics Corp. (I) 26,099 911,377
Hill-Rom Holdings, Inc. 1,767 73,207
Invacare Corp. 7,197 84,997
Kewaunee Scientific Corp. 83 1,483
LeMaitre Vascular, Inc. 1,115 7,671
Medical Action Industries, Inc. (I) 3,775 52,020
Merit Medical Systems, Inc. (I) 6,737 80,036
Misonix, Inc. (I) 500 6,010
Natus Medical, Inc. (I) 4,398 129,785
NuVasive, Inc. (I) 2,600 90,662
Orthofix International NV (I) 559 17,307
RTI Surgical, Inc. (I) 12,463 59,573
Span-America Medical Systems, Inc. 684 12,859
Symmetry Medical, Inc. (I) 6,511 65,696
Wright Medical Group, Inc. (I) 45,115 1,366,985
6,862,887
Health care providers and services - 4.7%
Almost Family, Inc. (I) 2,180 59,231
Amedisys, Inc. (I) 7,716 155,632
AMN Healthcare Services, Inc. (I) 473 7,426
Amsurg Corp. (I) 5,246 262,562
BioScrip, Inc. (I)(L) 6,492 44,860
Community Health Systems, Inc. (I) 35,675 1,954,633
Cross Country Healthcare, Inc. (I) 6,973 64,779
Five Star Quality Care, Inc. (I) 8,754 33,003
Hanger, Inc. (I) 2,811 57,682
Health Net, Inc. (I) 5,858 270,112
Healthways, Inc. (I) 5,277 84,538
Kindred Healthcare, Inc. 67,996 1,319,122
LHC Group, Inc. (I) 2,725 63,220
LifePoint Hospitals, Inc. (I) 31,206 2,159,143
Magellan Health Services, Inc. (I) 5,458 298,716
Medcath Corp. (I) 3,806 5,214
Molina Healthcare, Inc. (I) 5,413 228,970
National Healthcare Corp. 3,289 182,572
Omnicare, Inc. 11,360 707,274
Owens & Minor, Inc. (L) 5,919 193,788
PDI, Inc. (I) 619 1,486
PharMerica Corp. (I) 57,875 1,413,886
Premier, Inc., Class A (I) 26,221 861,622
Select Medical Holdings Corp. 25,820 310,615
Team Health Holdings, Inc. (I) 33,616 1,949,392
The Providence Service Corp. (I) 2,037 98,550
Triple-S Management Corp., Class B (I) 3,459 68,834
Universal American Corp. (I) 12,572 101,079
VCA Antech, Inc. (I) 2,521 99,151
WellCare Health Plans, Inc. (I) 165 9,956
13,067,048
Health care technology - 0.7%
Arrhythmia Research Technology, Inc. (I) 200 1,328
HMS Holdings Corp. (I) 87,948 1,657,820
MedAssets, Inc. (I) 5,638 116,819
Omnicell, Inc. (I) 33 902
1,776,869
Life sciences tools and services - 1.5%
Albany Molecular Research, Inc. (I) 4,791 105,737
Bio-Rad Laboratories, Inc., Class A (I) 140 15,876
Charles River
       Laboratories International, Inc. (I) 22,789 1,361,415
Harvard Bioscience, Inc. (I) 6,562 26,839
ICON PLC (I) 21,198 1,213,162
Techne Corp. 15,545 1,454,235
4,177,264
Pharmaceuticals - 1.2%
Cumberland Pharmaceuticals, Inc. (I) 956 4,723
Endo International PLC (I) 19,886 1,359,009
FRD Acquisition Company (I) 5,160 4,489
Impax Laboratories, Inc. (I) 55,585 1,317,920
Lannett Company, Inc. (I) 735 33,575
Mallinckrodt PLC (I) 1,769 159,475
Prestige Brands Holdings, Inc. (I) 9,235 298,937
SciClone Pharmaceuticals, Inc. (I) 2,144 14,772
Trius Therapeutics, Inc. (I) 1,482 163
3,193,063
30,505,875
Industrials - 17.0%
Aerospace and defense - 0.7%
AAR Corp. 7,400 178,710
Alliant Techsystems, Inc. 764 97,517
Breeze-Eastern Corp. (I) 1,621 16,745
CPI Aerostructures, Inc. (I) 2,000 19,700

The accompanying notes are an integral part of the financial statements. 209


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Small Cap Opportunities Trust (continued)

Shares or
Principal      
Amount Value
COMMON STOCKS (continued)
Aerospace and defense (continued)
Cubic Corp. 2,425 $ 113,490
Curtiss-Wright Corp. 8,823 581,612
Ducommun, Inc. (I) 2,274 62,330
Engility Holdings, Inc. (I) 4,159 129,636
Exelis, Inc. 5,850 96,759
Innovative Solutions & Support, Inc. (I) 708 3,692
Kratos Defense & Security Solutions, Inc. (I) 13,485 88,462
LMI Aerospace, Inc. (I) 2,295 29,376
National Presto Industries, Inc. (L) 138 8,378
Orbital Sciences Corp. (I) 5,161 143,476
SIFCO Industries, Inc. 1,000 30,100
Sparton Corp. (I) 2,053 50,606
The Allied Defense Group, Inc. (I) 1,300 104
Triumph Group, Inc. 5,351 348,083
Vectrus, Inc. (I) 325 6,347
2,005,123
Air freight and logistics - 0.2%
Air Transport Services Group, Inc. (I) 14,569 106,062
Atlas Air Worldwide Holdings, Inc. (I) 3,546 117,089
Hub Group, Inc., Class A (I) 5,439 220,443
UTi Worldwide, Inc. (I) 587 6,240
449,834
Airlines - 0.4%
Alaska Air Group, Inc. 9,392 408,928
Hawaiian Holdings, Inc. (I)(L) 4,411 59,328
JetBlue Airways Corp. (I) 54,435 578,100
Republic Airways Holdings, Inc. (I) 7,820 86,880
SkyWest, Inc. 9,770 76,011
1,209,247
Building products - 1.7%
Apogee Enterprises, Inc. 46,160 1,837,168
Gibraltar Industries, Inc. (I) 5,765 78,923
Griffon Corp. 13,366 152,239
Insteel Industries, Inc. 2,944 60,529
Owens Corning 16,508 524,129
Quanex Building Products Corp. 5,950 107,636
Simpson Manufacturing Company, Inc. 4,345 126,657
Trex Company, Inc. (I) 49,018 1,694,552
Universal Forest Products, Inc. 2,665 113,822
4,695,655
Commercial services and supplies - 2.4%
ABM Industries, Inc. 4,717 121,180
ACCO Brands Corp. (I) 4,800 33,120
Acme United Corp. 733 12,204
ARC Document Solutions, Inc. (I) 3,098 25,094
Brady Corp., Class A 6,100 136,884
Clean Harbors, Inc. (I) 357 19,249
Courier Corp. 2,603 32,069
Covanta Holding Corp. 13,776 292,327
Ennis, Inc. 5,887 77,532
Fuel Tech, Inc. (I) 1,802 7,659
G&K Services, Inc., Class A 2,329 128,980
Heritage-Crystal Clean, Inc. (I) 2,692 40,003
Interface, Inc. 75,438 1,217,569
Intersections, Inc. 1,976 7,588
Kimball International, Inc., Class B 6,675 100,459
Matthews International Corp., Class A 3,110 136,498
McGrath RentCorp. 5,082 173,804
Metalico, Inc. (I) 7,400 8,140
Mobile Mini, Inc. 6,846 239,405
Multi-Color Corp. 2,248 102,239
NL Industries, Inc. 3,260 23,994
Quad/Graphics, Inc. 266 5,121
Team, Inc. (I) 32,023 1,213,992
Tetra Tech, Inc. 5,782 144,434
The ADT Corp. (L) 1,945 68,970
TRC Companies, Inc. (I) 4,523 29,535
UniFirst Corp. 2,303 222,447
United Stationers, Inc. 3,431 128,903
Versar, Inc. (I) 2,242 7,242
Viad Corp. 4,609 95,176
Virco Manufacturing Corp. (I) 1,200 3,132
Waste Connections, Inc. 34,150 1,656,958
6,511,907
Construction and engineering - 1.7%
AECOM Technology Corp. (I) 9,510 320,963
Aegion Corp. (I) 4,648 103,418
Ameresco, Inc., Class A (I) 6,918 47,388
Argan, Inc. 2,078 69,364
Comfort Systems USA, Inc. 5,035 68,224
Dycom Industries, Inc. (I) 51,752 1,589,304
EMCOR Group, Inc. 258 10,310
Furmanite Corp. (I) 1,419 9,592
Great Lakes Dredge & Dock Corp. (I) 13,300 82,194
Integrated Electrical Services, Inc. (I) 753 6,212
Layne Christensen Company (I)(L) 3,312 32,160
MasTec, Inc. (I) 2,887 88,400
MYR Group, Inc. (I) 2,883 69,423
Northwest Pipe Company (I) 2,143 73,076
Orion Marine Group, Inc. (I) 4,263 42,545
Pike Corp. (I) 4,803 57,108
Primoris Services Corp. 52,195 1,400,914
Sterling Construction Company, Inc. (I) 3,771 28,924
Tutor Perini Corp. (I) 8,984 237,178
URS Corp. 7,746 446,247
4,782,944
Electrical equipment - 1.0%
Allied Motion Technologies, Inc. 1,416 20,107
American Superconductor Corp. (I) 542 764
AZZ, Inc. 392 16,374
Encore Wire Corp. 3,894 144,428
EnerSys 27,462 1,610,372
Espey Manufacturing & Electronics Corp. 444 8,938
Global Power Equipment Group, Inc. 4,171 62,148
GrafTech International, Ltd. (I) 26,367 120,761
LSI Industries, Inc. 4,131 25,075
Ocean Power Technologies, Inc. (I) 2,429 2,866
Orion Energy Systems, Inc. (I) 3,553 19,009
Powell Industries, Inc. 1,610 65,785
PowerSecure International, Inc. (I)(L) 3,120 29,890
Preformed Line Products Company 984 51,916
Regal-Beloit Corp. 8,215 527,814
SL Industries, Inc. (I) 1,600 78,112
Ultralife Corp. (I) 1,984 6,428
2,790,787
Machinery - 3.3%
Actuant Corp., Class A 2,921 89,149
AGCO Corp. 16,711 759,682
Alamo Group, Inc. 2,127 87,207
Albany International Corp., Class A 43,791 1,490,646
Altra Industrial Motion Corp. 34 991
American Railcar Industries, Inc. (L) 4,020 297,158

The accompanying notes are an integral part of the financial statements. 210


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Small Cap Opportunities Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Machinery (continued)
Astec Industries, Inc. 4,445 $ 162,109
Barnes Group, Inc. 4,518 137,121
Briggs & Stratton Corp. 7,292 131,402
CIRCOR International, Inc. 909 61,203
Columbus McKinnon Corp. 2,978 65,486
Douglas Dynamics, Inc. 3,168 61,776
Dynamic Materials Corp. 2,005 38,195
EnPro Industries, Inc. (I) 2,365 143,153
ESCO Technologies, Inc. 5,154 179,256
Federal Signal Corp. 10,128 134,095
FreightCar America, Inc. 2,768 92,174
Gencor Industries, Inc. (I) 1,400 13,832
Hardinge, Inc. 3,000 32,820
Hurco Companies, Inc. 1,492 56,189
Hyster-Yale Materials Handling, Inc. 970 69,471
Joy Global, Inc. (L) 1,051 57,322
Kennametal, Inc. 464 19,168
Key Technology, Inc. (I) 641 8,397
LB Foster Company, Class A 1,699 78,052
Lydall, Inc. (I) 2,409 65,067
MFRI, Inc. (I) 1,100 10,428
Miller Industries, Inc. 2,106 35,591
Mueller Industries, Inc. 5,290 150,977
NN, Inc. 2,376 63,487
PMFG, Inc. (I)(L) 5,333 26,665
Standex International Corp. 1,888 139,976
Supreme Industries, Inc. 3,651 28,514
The Eastern Company 1,471 23,507
The Greenbrier Companies, Inc. (L) 4,803 352,444
The LS Starrett Company, Class A 1,530 21,175
Titan International, Inc. (L) 1,100 13,002
TriMas Corp. (I) 39,149 952,495
Trinity Industries, Inc. 21,128 987,100
Twin Disc, Inc. 1,650 44,484
Valmont Industries, Inc. 219 29,550
Watts Water Technologies, Inc., Class A 28,687 1,671,018
Woodward, Inc. 1,217 57,954
8,939,488
Marine - 0.1%
International Shipholding Corp. 1,625 29,071
Kirby Corp. (I) 279 32,880
Knightsbridge Tankers, Ltd. 5,070 44,870
Matson, Inc. 6,896 172,607
Ultrapetrol Bahamas, Ltd. (I) 15,837 49,411
328,839
Professional services - 0.6%
CBIZ, Inc. (I) 10,531 82,879
CDI Corp. 4,408 64,004
CRA International, Inc. (I) 2,371 60,295
Franklin Covey Company (I) 830 16,260
FTI Consulting, Inc. (I) 7,838 274,016
GP Strategies Corp. (I) 2,385 68,497
Heidrick & Struggles International, Inc. 4,283 87,973
Hill International, Inc. (I) 9,256 37,024
Hudson Global, Inc. (I) 4,800 18,144
Huron Consulting Group, Inc. (I) 213 12,987
ICF International, Inc. (I) 4,587 141,234
Kelly Services, Inc., Class A 6,833 107,073
Korn/Ferry International (I) 9,554 237,895
Mistras Group, Inc. (I) 781 15,932
Navigant Consulting, Inc. (I) 9,227 128,348
On Assignment, Inc. (I) 3,618 97,143
Pendrell Corp. (I) 37,263 49,932
RCM Technologies, Inc. (I) 300 2,271
Resources Connection, Inc. 9,420 131,315
RPX Corp. (I) 4,949 67,950
VSE Corp. 1,317 64,559
1,765,731
Road and rail - 3.8%
AMERCO 1,663 435,523
ArcBest Corp. 4,807 179,301
Avis Budget Group, Inc. (I) 17,100 938,619
Celadon Group, Inc. 69,480 1,351,386
Con-way, Inc. 5,234 248,615
Covenant Transportation
       Group, Inc., Class A (I) 2,929 54,450
Genesee & Wyoming, Inc., Class A (I) 311 29,641
Heartland Express, Inc. 67,345 1,613,586
Knight Transportation, Inc. 7,116 194,907
Landstar System, Inc. 23,839 1,720,937
Marten Transport, Ltd. 7,428 132,293
Old Dominion Freight Line, Inc. (I) 32,558 2,299,897
P.A.M. Transportation Services, Inc. (I) 2,046 74,168
Patriot Transportation Holding, Inc. (I) 1,350 45,792
Providence and Worcester Railroad Company 815 14,254
Roadrunner Transportation Systems, Inc. (I) 600 13,674
Ryder Systems, Inc. 8,473 762,316
Saia, Inc. (I) 3,963 196,406
USA Truck, Inc. (I)(L) 2,076 36,392
Werner Enterprises, Inc. 4,970 125,244
10,467,401
Trading companies and distributors - 1.0%
Aceto Corp. 5,823 112,500
Air Lease Corp. 604 19,630
Applied Industrial Technologies, Inc. 3,869 176,620
Beacon Roofing Supply, Inc. (I) 1,987 50,629
CAI International, Inc. (I) 3,456 66,874
GATX Corp. 7,598 443,495
H&E Equipment Services, Inc. 1,860 74,921
Houston Wire & Cable Company 3,039 36,407
Kaman Corp. 2,465 96,875
Lawson Products, Inc. (I) 1,291 28,776
MRC Global, Inc. (I) 38,417 895,884
Rush Enterprises, Inc., Class A (I) 5,802 194,077
Rush Enterprises, Inc., Class B (I) 12,598 376,806
TAL International Group, Inc. (I)(L) 5,250 216,563
Titan Machinery, Inc. (I)(L) 2,816 36,580
Transcat, Inc. (I) 1,532 14,110
WESCO International, Inc. (I) 262 20,504
Willis Lease Finance Corp. (I) 406 8,331
  2,869,582
Transportation infrastructure - 0.1%
Wesco Aircraft Holdings, Inc. (I) 8,691 151,223
  46,967,761
Information technology - 17.5%
Communications equipment - 1.5%    
ADTRAN, Inc. 107 2,197
ARRIS Group, Inc. (I) 59,121   1,676,376
Bel Fuse, Inc., Class B 1,641 40,598
Black Box Corp. 2,530 59,000
Calix, Inc. (I) 3,059 29,275
Communications Systems, Inc. 1,800 20,088

The accompanying notes are an integral part of the financial statements. 211


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Small Cap Opportunities Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Communications equipment (continued)
Comtech Telecommunications Corp. 3,221 $ 119,660
Digi International, Inc. (I) 4,813 36,098
EchoStar Corp., Class A (I) 6,891 336,005
Emulex Corp. (I) 21,867 108,023
Finisar Corp. (I)(L) 61,218 1,018,055
Harmonic, Inc. (I) 23,851 151,215
KVH Industries, Inc. (I) 2,778 31,447
NETGEAR, Inc. (I) 4,613 144,156
Novatel Wireless, Inc. (I) 6,508 23,884
Oclaro, Inc. (I)(L) 5,040 7,207
Oplink Communications, Inc. 3,231 54,345
Optical Cable Corp. 931 4,217
Polycom, Inc. (I) 19,929 244,828
Relm Wireless Corp. (I) 2,100 10,836
Tessco Technologies, Inc. 1,750 50,733
Westell Technologies, Inc., Class A (I) 8,500 15,640
4,183,883
Electronic equipment, instruments and components - 4.6%
ADDvantage Technologies Group, Inc. (I) 428 1,002
Agilysys, Inc. (I) 1,013 11,882
Arrow Electronics, Inc. (I) 16,966 939,068
Avnet, Inc. 22,763   944,665
AVX Corp. 29,339   389,622
Belden, Inc. 18,502 1,184,498
Benchmark Electronics, Inc. (I) 6,843 151,983
Checkpoint Systems, Inc. (I) 9,467 115,781
Coherent, Inc. (I) 21,566 1,323,505
CTS Corp. 4,099 65,133
Daktronics, Inc. 1,238 15,215
Echelon Corp. (I) 7,977 16,273
Electro Rent Corp. 3,773 51,954
Electro Scientific Industries, Inc. 4,104 27,866
Fabrinet (I) 5,079 74,153
FEI Company 11,566 872,308
Frequency Electronics, Inc. (I) 1,783 19,025
GSI Group, Inc. (I) 8,069 92,713
Identive Group, Inc. (I) 433 5,807
II-VI, Inc. (I) 6,455 75,975
Ingram Micro, Inc., Class A (I) 27,323 705,207
Insight Enterprises, Inc. (I) 7,853 177,713
Iteris, Inc. (I) 8,054 14,095
Itron, Inc. (I) 7,962 312,986
Jabil Circuit, Inc. 4,889 98,611
KEMET Corp. (I) 10,443 43,025
Key Tronic Corp. (I) 1,900 20,083
Littelfuse, Inc. 132 11,244
Maxwell Technologies, Inc. (I) 6,813 59,409
Measurement Specialties, Inc. (I) 680 58,215
Mercury Systems, Inc. (I) 8,122 89,423
Methode Electronics, Inc. 4,627 170,597
Multi-Fineline Electronix, Inc. (I) 3,796 35,493
NAPCO Security Technologies, Inc. (I) 1,164 5,471
Newport Corp. (I) 5,207 92,268
OSI Systems, Inc. (I) 12 762
PAR Technology Corp. (I) 3,132 15,347
Park Electrochemical Corp. 3,038 71,545
PC Connection, Inc. 4,352 93,437
PCM, Inc. (I) 3,055 29,847
Perceptron, Inc. 1,608 15,742
Planar Systems, Inc. (I) 5,100 19,329
Plexus Corp. (I) 3,089 114,077
Radisys Corp. (I) 5,279 14,095
RF Industries, Ltd. 120 592
Richardson Electronics, Ltd. 2,384 23,816
Rofin-Sinar Technologies, Inc. (I) 4,747 109,466
Rogers Corp. (I) 2,200 120,472
Sanmina Corp. (I) 61,833 1,289,836
ScanSource, Inc. (I) 2,542 87,928
SMTC Corp. (I) 490 907
SYNNEX Corp. 2,368 153,044
Tech Data Corp. (I) 29,808 1,754,499
TTM Technologies, Inc. (I) 18,607 126,714
Viasystems Group, Inc. (I) 3,526 55,358
Vicon Industries, Inc. 126 261
Vishay Intertechnology, Inc. 18,624 266,137
Vishay Precision Group, Inc. (I) 2,886 43,117
12,678,596
Internet software and services - 1.4%
AOL, Inc. (I) 12,851 577,652
Bankrate, Inc. (I) 9,842 111,805
Blucora, Inc. (I) 6,814 103,845
Conversant, Inc. (I) 54,144 1,854,432
Dice Holdings, Inc. (I) 7,855 65,825
Digital River, Inc. (I) 7,465 108,392
EarthLink Holdings Corp. 15,906 54,399
InterActiveCorp 618 40,726
Internap Network Services Corp. (I) 4,743 32,727
IntraLinks Holdings, Inc. (I) 512 4,147
Limelight Networks, Inc. (I) 7,903 18,454
Monster Worldwide, Inc. (I) 28,794 158,367
Perficient, Inc. (I) 2,608 39,094
QuinStreet, Inc. (I) 10,530 43,700
RealNetworks, Inc. (I) 8,110 56,365
Reis, Inc. 300 7,077
SciQuest, Inc. (I) 33,343 501,479
TechTarget, Inc. (I) 8,844 75,970
TheStreet, Inc. 8,757 19,616
XO Group, Inc. (I) 3,766 42,217
3,916,289
IT services - 1.6%
Acxiom Corp. (I) 3,452 57,131
CACI International, Inc., Class A (I) 23,953 1,707,130
CIBER, Inc. (I) 13,394 45,941
Convergys Corp. 11,544 205,714
CoreLogic, Inc. (I) 2,808 76,013
CSG Systems International, Inc. 1,964 51,614
Datalink Corp. (I) 1,251 13,298
DST Systems, Inc. 1,529 128,314
Genpact, Ltd. (I) 1,276 20,824
Jack Henry & Associates, Inc. 26,349 1,466,585
ManTech International Corp., Class A 4,529 122,057
ModusLink Global Solutions, Inc. (I)(L) 7,816 27,903
NCI, Inc., Class A (I) 2,106 20,028
PRGX Global, Inc. (I) 4,607 26,997
StarTek, Inc. (I) 3,143 24,327
Sykes Enterprises, Inc. (I) 8,596 171,748
TeleTech Holdings, Inc. (I) 1,036 25,465
The Hackett Group, Inc. 7,525 44,849
VeriFone Systems, Inc. (I) 950 32,661
4,268,599
Semiconductors and semiconductor equipment - 5.0%
Advanced Energy Industries, Inc. (I) 3,450 64,826
Alpha & Omega Semiconductor, Ltd. (I) 4,513 42,422

The accompanying notes are an integral part of the financial statements. 212


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Small Cap Opportunities Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Semiconductors and semiconductor equipment (continued)
Amkor Technology, Inc. (I) 9,473 $ 79,668
Amtech Systems, Inc. (I) 1,196 12,797
Axcelis Technologies, Inc. (I) 27,071 53,871
AXT, Inc. (I) 4,229 10,319
Brooks Automation, Inc. 15,547 163,399
BTU International, Inc. (I) 1,318 4,284
Cascade Microtech, Inc. (I) 1,892 19,166
Cirrus Logic, Inc. (I) 731 15,241
Cohu, Inc. 4,192 50,178
Diodes, Inc. (I) 733 17,533
DSP Group, Inc. (I) 4,494 39,862
Entegris, Inc. (I) 119,747 1,377,091
Entropic Communications, Inc. (I) 21,820 58,041
Fairchild Semiconductor International, Inc. (I) 86,987 1,350,908
First Solar, Inc. (I) 15,984 1,051,907
FormFactor, Inc. (I) 7,875 56,464
GigOptix, Inc. (I) 931   1,127
GSI Technology, Inc. (I) 3,507 18,973
Integrated Device Technology, Inc. (I) 98,783   1,575,589
Integrated Silicon Solution, Inc. 6,651 91,385
International Rectifier Corp. (I) 12,532 491,756
Intersil Corp., Class A 154,532 2,195,900
IXYS Corp. 7,588 79,674
Kopin Corp. (I) 4,052 13,777
Kulicke & Soffa Industries, Inc. (I) 14,905 212,098
Lattice Semiconductor Corp. (I) 16,204 121,530
Magnachip Semiconductor Corp. (I) 4,940 57,798
Marvell Technology Group, Ltd. 34,320 462,634
Microsemi Corp. (I) 563 14,306
MKS Instruments, Inc. 9,788 326,723
NeoPhotonics Corp. (I) 5,504 18,438
OmniVision Technologies, Inc. (I) 6,306 166,857
ON Semiconductor Corp. (I) 1,274 11,390
Pericom Semiconductor Corp. (I) 4,434 43,187
Photronics, Inc. (I) 13,726 110,494
PMC-Sierra, Inc. (I) 7,616 56,815
Power Integrations, Inc. 24,219 1,305,646
RF Micro Devices, Inc. (I) 2,250 25,965
Rudolph Technologies, Inc. (I) 5,137 46,490
Sigma Designs, Inc. (I) 7,902 34,058
Silicon Image, Inc. (I) 2,000 10,080
Spansion, Inc., Class A (I) 10,091 229,974
SunPower Corp. (I)(L) 2,198 74,468
TriQuint Semiconductor, Inc. (I) 29,465 561,898
Ultra Clean Holdings, Inc. (I) 1,700 15,215
Veeco Instruments, Inc. (I) 27,512 961,544
13,803,766
Software - 2.3%
Bottomline Technologies, Inc. (I) 41,256 1,138,253
Cadence Design Systems, Inc. (I) 86,709 1,492,262
Compuware Corp. 1,875 19,894
Epiq Systems, Inc. 7,845 137,758
ePlus, Inc. (I) 1,364 76,452
GSE Systems, Inc. (I) 2,016 3,145
Mentor Graphics Corp. 10,530 215,812
MicroStrategy, Inc., Class A (I) 10,665 1,395,409
Progress Software Corp. (I) 4,805 114,888
Rovi Corp. (I) 5,220 103,069
Seachange International, Inc. (I) 5,428 37,779
SS&C Technologies Holdings, Inc. (I) 31,885 1,399,433
Take-Two Interactive Software, Inc. (I) 4,530 104,507
TeleCommunication Systems, Inc., Class A (I) 7,641 21,318
Telenav, Inc. (I) 9,785 65,560
6,325,539
Technology hardware, storage and peripherals - 1.1%
Astro-Med, Inc. 1,439 18,980
Cray, Inc. (I) 67,137 1,761,675
Electronics For Imaging, Inc. (I) 5,466 241,433
Hutchinson Technology, Inc. (I) 5,052 18,490
Imation Corp. (I) 9,485 27,981
Intevac, Inc. (I) 3,801 25,353
Lexmark International, Inc., Class A 12,325 523,813
QLogic Corp. (I) 17,751 162,599
Super Micro Computer, Inc. (I) 6,324 186,052
2,966,376
48,143,048
Materials - 6.8%
Chemicals - 1.9%
A. Schulman, Inc. 4,138 149,630
Axiall Corp. 5,078 181,843
Cabot Corp. 11,568 587,307
Calgon Carbon Corp. (I) 1,713 33,198
Chase Corp. 1,174 36,535
Chemtura Corp. (I) 3,681 85,878
Core Molding Technologies, Inc. (I) 1,000 14,180
Cytec Industries, Inc. 423 20,004
FMC Corp. 18,394 1,051,953
FutureFuel Corp. 6,696 79,615
Hawkins, Inc. 330 11,867
HB Fuller Company 3,384 134,345
Huntsman Corp. 3,419 88,860
Innophos Holdings, Inc. 497 27,380
Innospec, Inc. 1,994 71,585
Intrepid Potash, Inc. (I) 800 12,360
KMG Chemicals, Inc. 1,101 17,924
Kraton Performance Polymers, Inc. (I) 7,990 142,302
Landec Corp. (I) 3,865 47,346
LSB Industries, Inc. (I) 539 19,248
Minerals Technologies, Inc. 28,821 1,778,544
Olin Corp. 6,813 172,028
OM Group, Inc. 4,455 115,607
OMNOVA Solutions, Inc. (I) 6,574 35,302
Penford Corp. (I) 2,624 34,558
Sensient Technologies Corp. 1,231 64,443
Trecora Resources (I) 2,774 34,342
Tronox, Ltd., Class A 6,193 161,328
Zep, Inc. 3,273 45,887
5,255,399
Construction materials - 0.7%
Eagle Materials, Inc. 17,896 1,822,350
Martin Marietta Materials, Inc. 113 14,570
United States Lime & Minerals, Inc. 839 48,771
1,885,691
Containers and packaging - 1.6%
AptarGroup, Inc. 384 23,309
Bemis Company, Inc. 1,370 52,087
Graphic Packaging Holding Company (I) 198,453 2,466,771
Greif, Inc., Class A 785 34,391
MeadWestvaco Corp. 24,044 984,361
Myers Industries, Inc. 6,330 111,661
Rock-Tenn Company, Class A 14,226 676,873

The accompanying notes are an integral part of the financial statements. 213


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Small Cap Opportunities Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Containers and packaging (continued)
Sonoco Products Company 1,390 $ 54,613
4,404,066
Metals and mining - 2.1%
AM Castle & Company (I)(L) 4,342 37,081
Ampco-Pittsburgh Corp. 1,644 32,880
Century Aluminum Company (I) 12,885 334,623
Cliffs Natural Resources, Inc. (L) 26,803 278,215
Coeur Mining, Inc. (I) 10,600 52,576
Commercial Metals Company 11,325 193,318
Friedman Industries, Inc. 1,511 12,012
Haynes International, Inc. 28,172 1,295,630
Kaiser Aluminum Corp. 2,852 217,379
Materion Corp. 3,233 99,156
Noranda Aluminum Holding Corp. 71 321
Olympic Steel, Inc. 2,383 49,018
Reliance Steel & Aluminum Company 12,460 852,264
RTI International Metals, Inc. (I) 4,900 120,834
Schnitzer Steel Industries, Inc., Class A 5,182 124,627
Steel Dynamics, Inc. 30,186 682,505
Stillwater Mining Company (I)(L) 9,647 144,994
SunCoke Energy, Inc. (I) 6,433 144,421
Synalloy Corp. 2,039 35,479
United States Steel Corp. (L) 24,757 969,732
Universal Stainless & Alloy Products, Inc. (I) 1,562 41,174
5,718,239
Paper and forest products - 0.5%
Boise Cascade Company (I) 2,350 70,829
Clearwater Paper Corp. (I) 1,959 117,755
Domtar Corp. 10,244 359,872
KapStone Paper and Packaging Corp. (I) 10,420 291,447
Louisiana-Pacific Corp. (I)(L) 21,144 287,347
Mercer International, Inc. (I) 10,058 98,066
Neenah Paper, Inc. 383 20,483
PH Glatfelter Company 4,610 101,190
Resolute Forest Products, Inc. (I) 9,682 151,426
Schweitzer-Mauduit International, Inc. 211 8,716
1,507,131
18,770,526
Telecommunication services - 0.9%
Diversified telecommunication services - 0.6%
Atlantic Tele-Network, Inc. 1,524 82,144
Enventis Corp. 2,058 37,414
Frontier Communications Corp. (L) 171,525 1,116,628
General Communication, Inc., Class A (I) 8,502 92,757
Hawaiian Telcom Holdco, Inc. (I)(L) 2,368 60,834
Iridium Communications, Inc. (I)(L) 9,684 85,703
Premiere Global Services, Inc. (I) 3,309 39,609
Vonage Holdings Corp. (I) 30,776 100,945
Windstream Holdings, Inc. (L) 7,528 81,152
1,697,186
Wireless telecommunication services - 0.3%
Leap Wireless International, Inc. (I) 8,053 20,294
Shenandoah Telecommunications Company 3,412 84,652
Spok Holdings, Inc. 5,172 67,288
Telephone & Data Systems, Inc. 16,512 395,628
United States Cellular Corp. (I) 4,616 163,776
731,638
2,428,824
Utilities - 1.1%
Electric utilities - 0.0%
Genie Energy, Ltd., B Shares (I) 503 3,536
Gas utilities - 0.9%
UGI Corp. 76,725 2,615,539
Independent power and renewable electricity producers - 0.2%
Dynegy, Inc. (I) 9,912 286,060
Ormat Technologies, Inc. (L) 9,116 239,477
525,537
Water utilities - 0.0%
Consolidated Water Company, Ltd. (L) 3,558 41,557
3,186,169
TOTAL COMMON STOCKS (Cost $239,413,026) $ 272,935,212
 
WARRANTS - 0.0%
Magnum Hunter Resources Corp. (Expiration
       Date: 04/15/2016) (I)(N) 805 507
TOTAL WARRANTS (Cost $855) $ 507
 
SECURITIES LENDING COLLATERAL - 2.8%
John Hancock Collateral
       Investment Trust, 0.1178% (W)(Y) 759,086 7,596,248
TOTAL SECURITIES LENDING  
COLLATERAL (Cost $7,596,222) $ 7,596,248

SHORT-TERM INVESTMENTS - 0.9%
Money market funds - 0.9%  
State Street Institutional Liquid Reserves
       Fund, 0.0853% (Y) 2,490,305 2,490,305
TOTAL SHORT-TERM INVESTMENTS (Cost $2,490,305) $ 2,490,305  
Total Investments (Small Cap Opportunities Trust)
       (Cost $249,500,408) - 102.7% $ 283,022,272
Other assets and liabilities, net - (2.7%) (7,449,569 )
TOTAL NET ASSETS - 100.0% $ 275,572,703

Small Cap Value Trust

Shares or
Principal
Amount        Value
COMMON STOCKS - 96.0%
Consumer discretionary - 8.9%
Household durables - 2.4%
Helen of Troy, Ltd. (I) 305,170 $ 16,027,528
Multiline retail - 1.3%
Fred’s, Inc., Class A 649,942 9,099,188
Specialty retail - 5.2%
Advance Auto Parts, Inc. 10,170 1,325,151
Ascena Retail Group, Inc. (I) 759,870 10,106,271
CST Brands, Inc. 15,760 566,572
Stage Stores, Inc. 496,299   8,491,676
The Cato Corp., Class A 428,166   14,754,600
35,244,270
60,370,986

The accompanying notes are an integral part of the financial statements. 214


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Small Cap Value Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Consumer staples - 3.6%
Food and staples retailing - 1.5%
Casey’s General Stores, Inc. 142,380 $ 10,208,646
Food products - 2.1%
Cranswick PLC 365,540 7,857,238
Post Holdings, Inc. (I) 203,730 6,759,761
  14,616,999
24,825,645
Energy - 5.5%
Energy equipment and services - 2.1%
Era Group, Inc. (I) 288,877 6,283,075
SEACOR Holdings, Inc. (I) 106,438 7,961,562
14,244,637
Oil, gas and consumable fuels - 3.4%
Diamondback Energy, Inc. (I) 9,166 685,433
Dorian LPG, Ltd. (I) 193,920 3,455,654
RSP Permian, Inc. (I) 263,500 6,735,060
Scorpio Tankers, Inc. 1,482,570   12,320,157
23,196,304
  37,440,941
Financials - 20.1%
Banks - 10.4%
First Busey Corp. 822,806 4,583,029
First Midwest Bancorp, Inc. 671,791 10,809,117
First Niagara Financial Group, Inc. 683,342 5,692,239
Flushing Financial Corp. 323,816 5,916,118
Hancock Holding Company 229,970 7,370,539
International Bancshares Corp. 506,834 12,501,061
MB Financial, Inc. 297,658 8,239,173
Webster Financial Corp. 450,550 13,129,027
WestAmerica Bancorp. (L) 58,270 2,710,720
70,951,023
Capital markets - 0.9%
Ares Capital Corp. 27,096 437,871
Solar Capital, Ltd. 322,185 6,018,416
6,456,287
Insurance - 4.1%
Alleghany Corp. (I) 1,788 747,652
AMERISAFE, Inc. 143,500 5,612,285
Assured Guaranty, Ltd. 14,810 328,190
Platinum Underwriters Holdings, Ltd. 113,629 6,916,597
Primerica, Inc. 262,710 12,667,876
Reinsurance Group of America, Inc. 9,460 758,030
White Mountains Insurance Group, Ltd. 960 604,867
27,635,497
Real estate investment trusts - 3.3%
Corrections Corp. of America 14,554 500,075
DiamondRock Hospitality Company 548,458 6,954,447
Education Realty Trust, Inc. 687,860 7,071,201
Kite Realty Group Trust 15,550 376,932
Mid-America Apartment Communities, Inc. 6,950 456,268
Summit Hotel Properties, Inc. 662,669 7,143,572
22,502,495
Thrifts and mortgage finance - 1.4%
Northwest Bancshares, Inc. 762,750 9,229,275
136,774,577
Health care - 13.6%
Health care equipment and supplies - 5.1%
Haemonetics Corp. (I) 226,620 7,913,570
ICU Medical, Inc. (I) 232,240 14,905,163
Integra LifeSciences Holdings Corp. (I) 45,600 2,263,584
STERIS Corp. 182,490 9,847,160
34,929,477
Health care providers and services - 1.6%
Amsurg Corp. (I) 154,570 7,736,229
Corvel Corp. (I) 85,130 2,898,677
10,634,906
Health care technology - 2.0%
Allscripts Healthcare Solutions, Inc. (I) 590,010 7,914,984
MedAssets, Inc. (I) 293,640 6,084,221
13,999,205
Life sciences tools and services - 4.0%
Charles River
       Laboratories International, Inc. (I) 280,870 16,779,174
ICON PLC (I) 184,420 10,554,357
27,333,531
Pharmaceuticals - 0.9%
Phibro Animal Health Corp. 270,340 6,058,319
92,955,438
Industrials - 22.0%
Aerospace and defense - 2.0%
Cubic Corp. 284,670 13,322,556
Air freight and logistics - 1.4%
Atlas Air Worldwide Holdings, Inc. (I) 69,200 2,284,984
UTi Worldwide, Inc. (I)(L) 664,260 7,061,084
9,346,068
Commercial services and supplies - 9.2%
ACCO Brands Corp. (I) 1,178,320 8,130,408
Clean Harbors, Inc. (I) 6,680 360,186
G&K Services, Inc., Class A 263,250 14,578,785
Matthews International Corp., Class A 277,080 12,161,045
SP Plus Corp. (I) 447,518 8,484,941
Steelcase, Inc., Class A 363,170 5,879,722
United Stationers, Inc. 356,748 13,403,022
62,998,109
Industrial conglomerates - 0.1%
Carlisle Companies, Inc. 10,206 820,358
Machinery - 6.3%
Albany International Corp., Class A 386,514 13,156,937
ESCO Technologies, Inc. 255,772 8,895,750
Luxfer Holdings PLC, ADR 306,380 5,288,119
Mueller Industries, Inc. 544,750 15,547,165
42,887,971
Professional services - 1.0%
FTI Consulting, Inc. (I) 202,780 7,089,189
Trading companies and distributors - 2.0%
GATX Corp. 228,600 13,343,382
149,807,633
Information technology - 11.9%
Electronic equipment, instruments and components - 6.5%
Belden, Inc. 336,529 21,544,587
Coherent, Inc. (I) 106,730 6,550,020

The accompanying notes are an integral part of the financial statements. 215


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Small Cap Value Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Electronic equipment, instruments and
components (continued)
MTS Systems Corp. 44,538 $ 3,040,164
ScanSource, Inc. (I) 302,760 10,472,468
Zebra Technologies Corp., Class A (I) 36,400 2,583,308
44,190,547
IT services - 2.3%
Forrester Research, Inc. 274,633 10,122,972
MAXIMUS, Inc. 140,309 5,630,600
15,753,572
Semiconductors and semiconductor equipment - 1.1%
Maxim Integrated Products, Inc. 21,650 654,696
Micrel, Inc. 548,758 6,601,559
7,256,255
Software - 0.5%
Verint Systems, Inc. (I) 65,640 3,650,240
Technology hardware, storage and peripherals - 1.5%  
Diebold, Inc. 298,850 10,555,382
    81,405,996
Materials - 7.5%
Chemicals - 4.8%
Innospec, Inc. 193,230 6,936,957
Koppers Holdings, Inc. 251,815 8,350,185
Sensient Technologies Corp. 201,280 10,537,008
Zep, Inc.   466,650 6,542,433
32,366,583
Containers and packaging - 1.3%
AptarGroup, Inc. 5,508 334,336
Greif, Inc., Class A 196,110 8,591,579
8,925,915
Paper and forest products - 1.4%
Deltic Timber Corp. 153,306 9,554,030
50,846,528
Utilities - 2.9%
Electric utilities - 0.1%
Westar Energy, Inc. 8,660 295,479
Gas utilities - 2.8%
Atmos Energy Corp. 7,250 345,825
New Jersey Resources Corp. 96,944 4,896,641
The Laclede Group, Inc. 151,790 7,043,056
UGI Corp. 18,150 618,734
WGL Holdings, Inc. 148,050 6,235,866
19,140,122
19,435,601
TOTAL COMMON STOCKS (Cost $492,004,393) $ 653,863,345
     
SECURITIES LENDING COLLATERAL - 1.0%
John Hancock Collateral
       Investment Trust, 0.1178% (W)(Y) 674,242 6,747,202
TOTAL SECURITIES LENDING
COLLATERAL (Cost $6,747,156) $ 6,747,202

SHORT-TERM INVESTMENTS - 4.9%
Repurchase agreement - 4.9%
Bank of America Tri-Party Repurchase
       Agreement dated 09/30/2014 at 0.001% to
       be repurchased at $33,500,001 on
       10/01/2014, collateralized by $32,128,832
       Government National Mortgage Association,
       3.500% - 5.500% due 02/15/2039 -
       09/15/2044 (valued at $34,170,000,
       including interest) $ 33,500,000   $ 33,500,000
TOTAL SHORT-TERM INVESTMENTS (Cost $33,500,000)     $ 33,500,000
Total Investments (Small Cap Value Trust)
       (Cost $532,251,549) - 101.9% $ 694,110,547
Other assets and liabilities, net - (1.9%) (12,869,919 )
TOTAL NET ASSETS - 100.0% $ 681,240,628

Small Company Growth Trust

Shares or
Principal
Amount Value
COMMON STOCKS - 97.1%
Consumer discretionary - 12.7%
Auto components - 0.7%  
Tenneco, Inc. (I) 18,686 $ 977,465
Distributors - 0.7%  
Pool Corp. 18,103 976,114
Hotels, restaurants and leisure - 3.7%  
Choice Hotels International, Inc. 20,257 1,053,364
Domino’s Pizza, Inc. 14,710   1,132,082
Jack in the Box, Inc. 27,980 1,907,956
The Cheesecake Factory, Inc. 21,068 958,594
  5,051,996
Household durables - 0.7%
Standard Pacific Corp. (I) 126,592 948,174
Internet and catalog retail - 0.8%
HomeAway, Inc. (I) 30,385 1,078,668
Leisure products - 0.7%
Brunswick Corp. 22,754 958,854
Media - 0.6%
Sinclair Broadcast Group, Inc., Class A (L) 27,968 729,685
Specialty retail - 3.1%
ANN, Inc. (I) 21,044 865,540
DSW, Inc., Class A 29,601 891,286
Group 1 Automotive, Inc. 13,975 1,016,122
Monro Muffler Brake, Inc. 18,468 896,252
Vitamin Shoppe, Inc. (I) 13,399 594,782
4,263,982
Textiles, apparel and luxury goods - 1.7%
G-III Apparel Group, Ltd. (I) 15,153 1,255,578
Steven Madden, Ltd. (I) 33,265 1,072,131
2,327,709
17,312,647
Consumer staples - 1.6%
Food products - 1.6%
Annie’s, Inc. (I) 5,513 253,047
B&G Foods, Inc. 28,203 776,993

The accompanying notes are an integral part of the financial statements. 216


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Small Company Growth Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Food products (continued)
Lancaster Colony Corp. 12,769 $ 1,088,940
  2,118,980
  2,118,980
Energy - 7.3%
Energy equipment and services - 3.3%
Atwood Oceanics, Inc. (I) 16,036 700,613
Dresser-Rand Group, Inc. (I) 15,867 1,305,219
Dril-Quip, Inc. (I) 11,815 1,056,261
Patterson-UTI Energy, Inc. 42,922 1,396,253
  4,458,346
Oil, gas and consumable fuels - 4.0%
Energen Corp. 15,375 1,110,690
Laredo Petroleum, Inc. (I)(L) 37,268 835,176
Oasis Petroleum, Inc. (I) 27,117 1,133,762
Resolute Energy Corp. (I)(L) 54,704 342,994
SemGroup Corp., Class A 12,917 1,075,596
Ultra Petroleum Corp. (I)(L) 44,049 1,024,580
  5,522,798
  9,981,144
Financials - 8.8%
Banks - 3.7%
Hancock Holding Company 29,962 960,282
Home BancShares, Inc. 32,057 942,796
Prosperity Bancshares, Inc. 16,475 941,876
SVB Financial Group (I) 11,521 1,291,389
UMB Financial Corp. 18,056 984,955
  5,121,298
Capital markets - 3.2%
Affiliated Managers Group, Inc. (I) 5,173   1,036,462
Greenhill & Company, Inc. 14,354 667,317
Janus Capital Group, Inc. (L) 83,575   1,215,181
Stifel Financial Corp. (I) 31,163 1,461,233
  4,380,193
Insurance - 1.0%
American Equity Investment Life
       Holding Company 45,774 1,047,309
Protective Life Corp. 4,278 296,936
  1,344,245
Real estate investment trusts - 0.9%
Corrections Corp. of America 34,311 1,178,926
  12,024,662
Health care - 18.4%
Biotechnology - 3.8%
Alnylam Pharmaceuticals, Inc. (I) 12,786 998,587
Exact Sciences Corp. (I)(L) 67,359 1,305,417
Incyte Corp., Ltd. (I) 22,598 1,108,432
NPS Pharmaceuticals, Inc. (I) 34,661 901,186
Seattle Genetics, Inc. (I)(L) 23,862 887,189
  5,200,811
Health care equipment and supplies - 4.1%
DexCom, Inc. (I) 17,142 685,509
Insulet Corp. (I) 26,118 962,448
NuVasive, Inc. (I) 30,070 1,048,541
Sirona Dental Systems, Inc. (I) 13,629 1,045,072
STERIS Corp. 23,270 1,255,649
Thoratec Corp. (I) 22,424 599,394
  5,596,613
Health care providers and services - 5.4%
Chemed Corp. (L) 13,712 1,410,965
Community Health Systems, Inc. (I) 26,559 1,455,168
Envision Healthcare Holdings, Inc. (I) 30,011 1,040,781
HealthSouth Corp. 30,635 1,130,432
Select Medical Holdings Corp. 77,402 931,146
VCA Antech, Inc. (I) 37,137 1,460,598
  7,429,090
Health care technology - 0.3%
HMS Holdings Corp. (I)(L) 21,339 402,240
Life sciences tools and services - 2.6%
PAREXEL International Corp. (I) 22,103 1,394,478
PerkinElmer, Inc. 23,345 1,017,842
Techne Corp. 12,311 1,151,694
  3,564,014
Pharmaceuticals - 2.2%
Jazz Pharmaceuticals PLC (I) 6,683 1,073,022
Nektar Therapeutics (I) 26,447 319,215
Salix Pharmaceuticals, Ltd. (I) 10,052 1,570,524
  2,962,761
  25,155,529
Industrials - 16.9%
Aerospace and defense - 1.5%
Hexcel Corp. (I) 24,660 979,002
TransDigm Group, Inc. 5,835 1,075,566
  2,054,568
Air freight and logistics - 0.8%
Forward Air Corp. 24,679 1,106,360
Building products - 1.1%
AO Smith Corp. 30,595 1,446,532
Commercial services and supplies - 2.4%
Pitney Bowes, Inc. 55,175 1,378,823
Steelcase, Inc., Class A 64,113 1,037,989
Tetra Tech, Inc. 33,865 845,948
  3,262,760
Construction and engineering - 0.7%
MasTec, Inc. (I) 31,546 965,939
Electrical equipment - 0.9%
Acuity Brands, Inc. 10,605 1,248,315
Machinery - 5.0%
Crane Company 16,248 1,027,036
ITT Corp. 32,157 1,445,136
Lincoln Electric Holdings, Inc. 20,549 1,420,655
WABCO Holdings, Inc. (I) 12,904 1,173,619
Wabtec Corp. 22,520 1,825,021
  6,891,467
Marine - 1.2%
Kirby Corp. (I) 13,664 1,610,302
Road and rail - 1.8%
Knight Transportation, Inc. 49,547 1,357,092
Swift Transportation Company (I) 52,398 1,099,310
2,456,402

The accompanying notes are an integral part of the financial statements. 217


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Small Company Growth Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Trading companies and distributors - 1.5%
Watsco, Inc. 11,424 $ 984,520
WESCO International, Inc. (I) 13,600 1,064,336
2,048,856
23,091,501
Information technology - 25.3%
Communications equipment - 1.5%
ARRIS Group, Inc. (I) 50,378 1,428,468
Finisar Corp. (I)(L) 39,318 653,858
2,082,326
Electronic equipment, instruments and components - 4.2%
Cognex Corp. (I) 37,201 1,498,084
IPG Photonics Corp. (I)(L) 10,392 714,762
Littelfuse, Inc. 14,685 1,250,868
National Instruments Corp. 29,027 897,805
SYNNEX Corp. (I) 20,835 1,346,566
5,708,085
Internet software and services - 3.2%
Conversant, Inc. (I) 38,926 1,333,216
CoStar Group, Inc. (I) 11,887 1,848,904
Dealertrack Technologies, Inc. (I) 26,173 1,136,170
4,318,290
IT services - 0.8%
EPAM Systems, Inc. (I) 26,303 1,151,808
Semiconductors and semiconductor equipment - 4.0%
Atmel Corp. (I) 2,959 23,909
Cavium, Inc. (I) 21,355 1,061,984
MKS Instruments, Inc. 25,470 850,189
Monolithic Power Systems, Inc. 9,243 407,154
Power Integrations, Inc. 22,090 1,190,872
Silicon Laboratories, Inc. (I) 22,178 901,314
Teradyne, Inc. 56,013 1,086,092
5,521,514
Software - 10.8%
Aspen Technology, Inc. (I) 30,049 1,133,448
Cadence Design Systems, Inc. (I) 62,914 1,082,750
CommVault Systems, Inc. (I) 13,120 661,248
Guidewire Software, Inc. (I) 24,591 1,090,365
Interactive Intelligence Group, Inc. (I) 18,973 793,071
Manhattan Associates, Inc. (I) 83,906 2,804,139
Mentor Graphics Corp. 48,352 990,974
MicroStrategy, Inc., Class A (I) 8,063 1,054,963
NetScout Systems, Inc. (I) 29,579 1,354,718
Qlik Technologies, Inc. (I) 39,448 1,066,674
Qualys, Inc. (I) 28,995 771,267
SolarWinds, Inc. (I) 18,871 793,526
The Ultimate Software Group, Inc. (I) 8,057 1,140,146
14,737,289
Technology hardware, storage and peripherals - 0.8%
Cray, Inc. (I)(L) 40,267 1,056,606
34,575,918
Materials - 3.8%
Chemicals - 1.7%
PolyOne Corp. 35,127 1,249,819
Rockwood Holdings, Inc. 13,821 1,056,615
2,306,434
Construction materials - 0.8%
Martin Marietta Materials, Inc. 8,646 1,114,815
Containers and packaging - 0.8%
Berry Plastics Group, Inc. (I) 43,552 1,099,252
Metals and mining - 0.5%
Carpenter Technology Corp. 15,401 695,355
5,215,856
Telecommunication services - 1.5%
Wireless telecommunication services - 1.5%
SBA Communications Corp., Class A (I) 18,848 2,090,243
Utilities - 0.8%
Electric utilities - 0.8%
ITC Holdings Corp. 31,933 1,137,773
TOTAL COMMON STOCKS (Cost $98,562,115) $ 132,704,253

RIGHTS - 0.0%
Community Health Systems, Inc. (Expiration
       Date: 01/27/2016) (I)(N) 74,236 2,227
TOTAL RIGHTS (Cost $4,825) $ 2,227

SECURITIES LENDING COLLATERAL - 7.6%
John Hancock Collateral
       Investment Trust, 0.1178% (W)(Y) 1,031,318 10,320,503
TOTAL SECURITIES LENDING  
COLLATERAL (Cost $10,320,455) $ 10,320,503

SHORT-TERM INVESTMENTS - 0.4%
Money market funds - 0.4%
State Street Institutional Liquid Reserves
       Fund, 0.0853% (Y) 581,615 581,615  
TOTAL SHORT-TERM INVESTMENTS (Cost $581,615) $ 581,615
Total Investments (Small Company Growth Trust)  
       (Cost $109,469,010) - 105.1% $ 143,608,598
Other assets and liabilities, net - (5.1%) (6,957,348 )
TOTAL NET ASSETS - 100.0% $ 136,651,250

Small Company Value Trust

Shares or
Principal
Amount Value
COMMON STOCKS - 97.4%
Consumer discretionary - 12.8%
Auto components - 1.5%
Drew Industries, Inc. 87,600 $ 3,695,843
Modine Manufacturing Company (I) 140,300 1,665,360
5,361,203
Automobiles - 0.7%
Winnebago Industries, Inc. (I) 108,900 2,370,752
Distributors - 1.1%  
Pool Corp. 70,900 3,822,928
Diversified consumer services - 0.8%  
American Public Education, Inc. (I) 38,300 1,033,717
Ascent Capital Group, Inc., Class A (I) 30,900 1,860,180
2,893,897
Hotels, restaurants and leisure - 0.8%
Belmond, Ltd., Class A (I) 138,000 1,609,080

The accompanying notes are an integral part of the financial statements. 218


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Small Company Value Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Hotels, restaurants and leisure (continued)
Red Robin Gourmet Burgers, Inc. (I) 17,300 $ 984,370
2,593,450
Household durables - 1.9%
CSS Industries, Inc. 59,200 1,435,600
Ethan Allen Interiors, Inc. (L) 59,200 1,349,760
M/I Homes, Inc. (I) 52,100 1,032,622
Meritage Homes Corp. (I) 79,900 2,836,450
6,654,432
Leisure products - 0.5%
Brunswick Corp. 43,800 1,845,732
Media - 0.8%
New Media Investment Group, Inc. 55,800 927,954
Saga Communications, Inc., Class A 49,800 1,672,284
2,600,238
Multiline retail - 0.3%
Fred’s, Inc., Class A 82,600 1,156,400
Specialty retail - 3.5%
Aaron’s, Inc. 216,800 5,272,576
Haverty Furniture Companies, Inc. 100,300 2,185,537
MarineMax, Inc. (I) 19,000   320,150
Pier 1 Imports, Inc. 158,600 1,885,754
Sportsman’s Warehouse Holdings, Inc. (I) 105,900 713,237
Stein Mart, Inc. 165,800 1,914,990
12,292,244
Textiles, apparel and luxury goods - 0.9%  
Crocs, Inc. (I) 63,900 803,862
Culp, Inc. 74,200 1,346,730
Kate Spade & Company (I) 37,400 981,002
3,131,594
44,722,870
Consumer staples - 0.9%
Food and staples retailing - 0.5%
SpartanNash Company 95,520 1,857,864
Food products - 0.3%
Pinnacle Foods, Inc. 28,900 943,585
Tobacco - 0.1%
Alliance One International, Inc. (I) 194,500 383,165
3,184,614
Energy - 6.0%
Energy equipment and services - 1.9%
Atwood Oceanics, Inc. (I) 33,000 1,441,770
C&J Energy Services, Inc. (I) 26,300 803,465
CARBO Ceramics, Inc. (L) 19,800 1,172,754
Hercules Offshore, Inc. (I)(L) 106,900 235,180
Tesco Corp. 78,200 1,552,270
TETRA Technologies, Inc. (I) 141,200 1,527,784
6,733,223
Oil, gas and consumable fuels - 4.1%
Bonanza Creek Energy, Inc. (I) 6,700 381,230
Cloud Peak Energy, Inc. (I) 119,400 1,506,828
Energy XXI Bermuda, Ltd. (L) 31,810 361,044
GasLog, Ltd. 107,700 2,370,477
Magnum Hunter Resources Corp. (I)(L) 120,500 671,185
Matador Resources Company (I) 70,300 1,817,255
Northern Oil and Gas, Inc. (I)(L) 133,200 1,894,104
Oasis Petroleum, Inc. (I) 70,800 2,960,148
PDC Energy, Inc. (I) 29,200 1,468,468
Teekay Tankers, Ltd., Class A (L) 242,700 905,271
14,336,010
21,069,233
Financials - 23.9%
Banks - 8.5%
BBCN Bancorp, Inc. 99,300 1,448,787
Columbia Banking System, Inc. 87,500 2,170,875
East West Bancorp, Inc. 172,600 5,868,400
Glacier Bancorp, Inc. 132,800 3,434,208
Home BancShares, Inc. 167,600 4,929,116
Signature Bank (I) 26,200 2,935,972
SVB Financial Group (I) 46,900 5,257,021
Wintrust Financial Corp. 82,400 3,680,808
29,725,187
Capital markets - 2.7%
Ares Capital Corp. 144,700 2,338,352
Hercules Technology Growth Capital, Inc. (L) 170,500 2,465,430
Janus Capital Group, Inc. 63,800 927,652
JMP Group, Inc. 69,600 436,392
Main Street Capital Corp. (L) 28,600 876,304
Piper Jaffray Companies (I) 23,300 1,217,192
Safeguard Scientifics, Inc. (I) 60,800 1,118,720
9,380,042
Diversified financial services - 0.5%
Compass Diversified Holdings 99,300 1,738,743
Insurance - 3.8%
Assured Guaranty, Ltd. 61,100 1,353,976
Employers Holdings, Inc. 97,350 1,873,988
Enstar Group, Ltd. (I) 2,900 395,328
Meadowbrook Insurance Group, Inc. 212,200 1,241,370
National Interstate Corp. 72,200 2,014,380
ProAssurance Corp. 141,500 6,235,905
Safety Insurance Group, Inc. 600 32,346
13,147,293
Real estate investment trusts - 7.8%
Acadia Realty Trust 98,200 2,708,356
Associated Estates Realty Corp. 37,600 658,376
CatchMark Timber Trust, Inc., Class A 21,530 235,969
CBL & Associates Properties, Inc. 132,800 2,377,120
Cedar Realty Trust, Inc. 208,100 1,227,790
First Potomac Realty Trust 168,000 1,974,000
Hatteras Financial Corp. 76,200 1,368,552
Kilroy Realty Corp. 49,700 2,954,168
Kite Realty Group Trust 58,100 1,408,344
LaSalle Hotel Properties 91,100 3,119,264
Potlatch Corp. 61,600 2,476,936
PS Business Parks, Inc. 14,000 1,065,960
Redwood Trust, Inc. 130,000 2,155,400
Saul Centers, Inc. 38,700 1,808,838
Washington Real Estate Investment Trust 69,500 1,763,910
27,302,983
Real estate management and development - 0.1%
Forestar Group, Inc. (I) 21,400 379,208
Thrifts and mortgage finance - 0.5%
Radian Group, Inc. (L) 113,100 1,612,806
83,286,262

The accompanying notes are an integral part of the financial statements. 219


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Small Company Value Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Health care - 3.9%
Biotechnology - 0.3%
Momenta Pharmaceuticals, Inc. (I) 84,800       $ 961,632
Health care equipment and supplies - 2.3%
Analogic Corp. 23,500 1,503,060
Atrion Corp. 500 152,505
Quidel Corp. (I)(L) 69,200 1,859,404
West Pharmaceutical Services, Inc. 104,400 4,672,944
8,187,913
Health care providers and services - 1.3%
Landauer, Inc. 22,000 726,220
National Healthcare Corp. 43,700 2,425,787
Triple-S Management Corp., Class B (I) 60,900 1,211,910
4,363,917
13,513,462
Industrials - 26.0%
Aerospace and defense - 0.3%
Kratos Defense & Security Solutions, Inc. (I) 153,600 1,007,616
Air freight and logistics - 0.8%
Hub Group, Inc., Class A (I) 54,800 2,221,044
UTi Worldwide, Inc. (I) 51,300 545,319
2,766,363
Airlines - 1.6%
Alaska Air Group, Inc. 129,400 5,634,076
Building products - 1.4%
Gibraltar Industries, Inc. (I) 120,400 1,648,276
Quanex Building Products Corp. 64,900 1,174,041
Universal Forest Products, Inc. 49,600 2,118,416
4,940,733
Commercial services and supplies - 4.6%
G&K Services, Inc., Class A 59,200 3,278,496
Matthews International Corp., Class A 75,500 3,313,695
McGrath RentCorp. 121,530 4,156,326
MSA Safety, Inc. 58,700 2,899,780
US Ecology, Inc. 53,900 2,520,364
16,168,661
Construction and engineering - 1.4%
Aegion Corp. (I) 97,500 2,169,375
Comfort Systems USA, Inc. 104,800 1,420,040
Pike Corp. (I) 100,000 1,189,000
4,778,415
Electrical equipment - 0.6%
Franklin Electric Company, Inc. 58,100 2,018,394
Machinery - 5.1%
Astec Industries, Inc. 48,200 1,757,854
CIRCOR International, Inc. 42,200 2,841,326
ESCO Technologies, Inc. 76,200 2,650,236
Hillenbrand, Inc. 11,510 355,544
Luxfer Holdings PLC, ADR 49,800 859,548
Nordson Corp. 53,300 4,054,531
RBC Bearings, Inc. 17,000 963,900
Sun Hydraulics Corp. 39,500 1,484,805
Woodward, Inc. 62,130 2,958,631
17,926,375
Marine - 1.9%
Kirby Corp. (I) 55,000 6,481,750
Professional services - 1.8%
FTI Consulting, Inc. (I) 49,100 1,716,536
Navigant Consulting, Inc. (I) 128,100 1,781,871
On Assignment, Inc. (I) 96,900 2,601,765
6,100,172
Road and rail - 4.7%
Genesee & Wyoming, Inc., Class A (I) 68,700 6,547,797
Landstar System, Inc. 115,300 8,323,507
Universal Truckload Services, Inc. 63,389 1,537,183
16,408,487
Trading companies and distributors - 1.8%
Beacon Roofing Supply, Inc. (I) 155,700 3,967,236
Kaman Corp. 61,500 2,416,950
6,384,186
90,615,228
Information technology - 10.5%
Communications equipment - 0.8%
Ixia (I) 168,500 1,540,090
Sonus Networks, Inc. (I) 331,500 1,133,730
2,673,820
Electronic equipment, instruments and components - 6.1%
Badger Meter, Inc. 3,800 191,710
Belden, Inc. 60,400 3,866,808
Cognex Corp. (I) 49,200 1,981,284
Electro Rent Corp. 142,300 1,959,471
Electro Scientific Industries, Inc. 131,300 891,527
Fabrinet (I) 99,100 1,446,860
Littelfuse, Inc. 45,500 3,875,690
Methode Electronics, Inc. 53,600 1,976,232
Newport Corp. (I) 62,900 1,114,588
SYNNEX Corp. 61,200 3,955,356
21,259,526
Semiconductors and semiconductor equipment - 2.8%
Advanced Energy Industries, Inc. (I) 112,200 2,108,238
Brooks Automation, Inc. 101,000 1,061,510
Cabot Microelectronics Corp. (I) 66,900 2,773,005
Entegris, Inc. (I) 139,200 1,600,800
Teradyne, Inc. 122,000 2,365,580
9,909,133
Software - 0.8%
Progress Software Corp. (I) 110,200 2,634,882
36,477,361
Materials - 9.0%
Chemicals - 2.5%
American Vanguard Corp. (L) 86,600 969,920
Innospec, Inc. 121,000 4,343,900
Minerals Technologies, Inc. 55,300 3,412,563
8,726,383
Containers and packaging - 2.0%
AptarGroup, Inc. 75,700 4,594,990
Myers Industries, Inc. 128,700 2,270,268
6,865,258
Metals and mining - 2.4%
Carpenter Technology Corp. 55,000 2,483,250
Royal Gold, Inc. 25,900 1,681,946
Sandstorm Gold, Ltd. (I)(L) 388,000 1,668,400
Schnitzer Steel Industries, Inc., Class A 45,500 1,094,275

The accompanying notes are an integral part of the financial statements. 220


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Small Company Value Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Metals and mining (continued)
Stillwater Mining Company (I)(L) 106,000       $ 1,593,180  
8,521,051
Paper and forest products - 2.1%
Clearwater Paper Corp. (I) 57,100 3,432,281
Deltic Timber Corp. 39,800 2,480,336
Wausau Paper Corp. 175,500 1,391,715
7,304,332
31,417,024
Telecommunication services - 0.3%
Diversified telecommunication services - 0.3%
Premiere Global Services, Inc. (I) 91,550 1,095,854
Utilities - 4.1%
Electric utilities - 2.3%
Cleco Corp. 74,900 3,606,435
El Paso Electric Company 69,100 2,525,605
PNM Resources, Inc. 65,900 1,641,569
7,773,609
Gas utilities - 0.7%
Southwest Gas Corp. 51,700 2,511,586
Multi-utilities - 1.1%
Black Hills Corp. 35,600 1,704,528
NorthWestern Corp. 46,500 2,109,240
3,813,768
14,098,963
TOTAL COMMON STOCKS (Cost $231,364,313) $ 339,480,871
           
INVESTMENT COMPANIES - 0.3%
iShares Russell 2000 Value ETF (L) 12,600 1,178,856
TOTAL INVESTMENT COMPANIES (Cost $746,868) $ 1,178,856
           
SECURITIES LENDING COLLATERAL - 4.1%
John Hancock Collateral
       Investment Trust, 0.1178% (W)(Y) 1,417,622 14,186,290
TOTAL SECURITIES LENDING
COLLATERAL (Cost $14,186,360) $ 14,186,290
           
SHORT-TERM INVESTMENTS - 2.3%
Money market funds - 2.3%
State Street Institutional U.S. Government
       Money Market Fund, 0.0000% (Y) 450,000 450,000
T.Rowe Price Reserve Investment
       Fund, 0.0487% (Y) 7,786,089 7,786,089
TOTAL SHORT-TERM INVESTMENTS (Cost $8,236,089) $ 8,236,089
Total Investments (Small Company Value Trust)
       (Cost $254,533,630) - 104.1% $ 363,082,106
Other assets and liabilities, net - (4.1%) (14,453,904 )
TOTAL NET ASSETS - 100.0% $ 348,628,202

Strategic Equity Allocation Trust

Shares or
Principal
Amount Value
COMMON STOCKS - 96.3%
Consumer discretionary - 11.3%
Auto components - 0.6%
Aisin Seiki Company, Ltd. 46,404       $ 1,674,927  
American Axle &
       Manufacturing Holdings, Inc. (I) 16,048 269,125
BorgWarner, Inc. 85,020 4,472,865
Bridgestone Corp. 158,474 5,241,519
Cie Generale des Etablissements Michelin 45,289 4,265,805
Continental AG 26,498 5,019,443
Cooper Tire & Rubber Company 15,061 432,251
Cooper-Standard Holding, Inc. (I) 3,158 197,059
Dana Holding Corp. 37,500 718,875
Delphi Automotive PLC 112,139 6,878,606
Denso Corp. 116,995 5,397,712
Dorman Products, Inc. (I) (L) 6,494 260,150
Drew Industries, Inc. 5,643 238,078
Federal-Mogul Holdings Corp. (I) 6,986 103,882
Fox Factory Holding Corp. (I) 2,961 45,896
Fuel Systems Solutions, Inc. (I) 4,011 35,738
Gentex Corp. 73,304 1,962,348
Gentherm, Inc. (I) 8,522 359,884
GKN PLC 397,201 2,045,421
Johnson Controls, Inc. 248,524 10,935,056
Koito Manufacturing Company, Ltd. 23,466 638,358
Modine Manufacturing Company (I) 11,675 138,582
Motorcar Parts of America, Inc. (I) 3,691 100,432
NGK Spark Plug Company, Ltd. 43,299 1,274,065
NHK Spring Company, Ltd. 38,577 378,525
NOK Corp. 23,172 531,957
Nokian Renkaat OYJ 27,446 823,504
Pirelli & C. SpA 57,594 794,166
Remy International, Inc. 3,618 74,278
Shiloh Industries, Inc. (I) 2,020 34,360
Spartan Motors, Inc. 9,601 44,837
Standard Motor Products, Inc. 4,737 163,095
Stanley Electric Company, Ltd. 32,867 711,542
Stoneridge, Inc. (I) 7,323 82,530
Strattec Security Corp. 982 79,886
Sumitomo Electric Industries, Ltd. 182,743 2,705,293
Sumitomo Rubber Industries, Ltd. 41,602 591,792
Superior Industries International, Inc. 5,958 104,444
Tenneco, Inc. (I) 14,525 759,803
The Goodyear Tire & Rubber Company 101,285 2,287,522
The Yokohama Rubber Company, Ltd. 50,000 433,264
Tower International, Inc. (I) 4,955 124,816
Toyoda Gosei Company, Ltd. 15,903 310,453
Toyota Industries Corp. 39,453 1,908,644
Valeo SA 18,275 2,030,618
67,681,406
Automobiles - 1.4%
Bayerische Motoren Werke AG 79,934 8,542,887
Daihatsu Motor Company, Ltd. 46,212 733,312
Daimler AG 233,615 17,840,462
Fiat SpA (I) 212,029 2,043,476
Ford Motor Company 1,447,171 21,403,659
Fuji Heavy Industries, Ltd. 142,212 4,711,011
General Motors Company 503,017 16,066,363
Harley-Davidson, Inc. 81,172 4,724,210
Honda Motor Company, Ltd. 395,873 13,582,337
Isuzu Motors, Ltd. 143,880 2,034,807
Mazda Motor Corp. 130,700 3,287,689
Mitsubishi Motors Corp. 156,437 1,897,578
Nissan Motor Company, Ltd. 602,396 5,831,280

The accompanying notes are an integral part of the financial statements. 221


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Automobiles (continued)
Peugeot SA (I) 94,962       $ 1,215,105
Renault SA 46,565 3,368,497
Suzuki Motor Corp. 88,343 2,929,914
Thor Industries, Inc. 23,252 1,197,478
Toyota Motor Corp. 667,952 39,301,721
Volkswagen AG 7,173 1,482,085
Winnebago Industries, Inc. (I) 6,604 143,769
Yamaha Motor Company, Ltd. 63,713 1,248,445
153,586,085
Distributors - 0.1%
Core-Mark Holding Company, Inc. 5,567 295,274
Genuine Parts Company 57,136 5,011,399
Jardine Cycle and Carriage, Ltd. 26,467 889,477
LKQ Corp. (I) 151,352 4,024,450
Pool Corp. 10,957 590,801
VOXX International Corp. (I) 4,834 44,956
10,856,357
Diversified consumer services - 0.1%
2U, Inc. (I) (L) 2,413 37,619
American Public Education, Inc. (I) 4,163 112,359
Apollo Education Group, Inc. (I) 48,958 1,231,294
Ascent Capital Group, Inc., Class A (I) 3,545 213,409
Benesse Holdings, Inc. 16,555 543,134
Bridgepoint Education, Inc. (I) 3,975 44,361
Bright Horizons Family Solutions, Inc. (I) 7,378 310,319
Capella Education Company 2,659 166,453
Career Education Corp. (I) 16,900 85,852
Carriage Services, Inc. 4,284 74,242
Chegg, Inc. (I) (L) 18,195 113,537
Collectors Universe, Inc. 2,088 45,936
DeVry Education Group, Inc. 28,747 1,230,659
Graham Holdings Company, Class B 2,207 1,543,995
Grand Canyon Education, Inc. (I) 11,267 459,356
H&R Block, Inc. 103,332 3,204,325
Houghton Mifflin Harcourt Company (I) 26,279 510,864
ITT Educational Services, Inc. (I) (L) 5,410 23,209
K12, Inc. (I) (L) 8,434 134,607
LifeLock, Inc. (I) 19,572 279,684
Regis Corp. 10,513 167,787
Service Corp. International 105,882 2,238,345
Sotheby’s 45,373 1,620,724
Steiner Leisure, Ltd. (I) 3,739 140,549
Strayer Education, Inc. (I) 2,636 157,844
Universal Technical Institute, Inc. 5,629 52,631
Weight Watchers International, Inc. (I) (L) 6,688 183,519
14,926,613
Hotels, restaurants and leisure - 1.5%
Accor SA 41,376 1,832,468
Bally Technologies, Inc. (I) 19,214 1,550,570
Belmond, Ltd., Class A (I) 23,235 270,920
Biglari Holdings, Inc. (I) 428 145,417
BJ’s Restaurants, Inc. (I) 5,679 204,387
Bloomin’ Brands, Inc. (I) 18,681 342,610
Bob Evans Farms, Inc. 6,037 285,792
Boyd Gaming Corp. (I) 18,761 190,612
Bravo Brio Restaurant Group, Inc. (I) 4,909 63,670
Brinker International, Inc. 32,399 1,645,545
Buffalo Wild Wings, Inc. (I) 4,546 610,391
Caesars Acquisition Company, Class A (I) (L) 10,886 103,090
Caesars Entertainment Corp. (I) (L) 12,257 154,193
Carnival Corp. 168,018 6,749,283
Carnival PLC 44,471 1,770,838
Carrols Restaurant Group, Inc. (I) 10,345 73,553
Chipotle Mexican Grill, Inc. (I) 11,576 7,716,446
Churchill Downs, Inc. 3,258 317,655
Chuy’s Holdings, Inc. (I) 3,936 123,551
Clubcorp Holdings, Inc. 5,755 114,122
Compass Group PLC 407,530 6,573,135
Cracker Barrel Old Country Store, Inc. 4,590 473,642
Crown Resorts, Ltd. 88,188 1,064,880
Darden Restaurants, Inc. (L) 49,679 2,556,481
Del Frisco’s Restaurant Group, Inc. (I) (L) 5,743 109,921
Denny’s Corp. (I) 21,789 153,177
Diamond Resorts International, Inc. (I) 8,468 192,732
DineEquity, Inc. 4,055 330,847
Domino’s Pizza, Inc. 27,636 2,126,867
Fiesta Restaurant Group, Inc. (I) 6,453 320,585
Flight Centre Travel Group, Ltd. 13,643 510,303
Galaxy Entertainment Group, Ltd. 563,153 3,269,680
Genting Singapore PLC 1,480,821 1,322,532
InterContinental Hotels Group PLC 56,056 2,161,590
International Game Technology 123,950 2,091,037
International Speedway Corp., Class A 20,842 659,441
Interval Leisure Group, Inc. 9,561 182,137
Isle of Capri Casinos, Inc. (I) 6,264 46,980
Jack in the Box, Inc. 9,647 657,829
Jamba, Inc. (I) 4,790 68,114
Krispy Kreme Doughnuts, Inc. (I) 15,856 272,089
La Quinta Holdings, Inc. (I) 10,690 203,003
Life Time Fitness, Inc. (I) 27,893 1,406,923
Marriott International, Inc., Class A 81,362 5,687,204
Marriott Vacations Worldwide Corp. (I) 6,802 431,315
McDonald’s Corp. 366,290 34,727,955
McDonald’s Holdings
       Company Japan, Ltd. (L) 16,161 399,645
MGM China Holdings, Ltd. 232,572 667,187
Morgans Hotel Group Company (I) 9,353 75,479
Multimedia Games Holding Company, Inc. (I) 7,301 262,909
Nathan’s Famous, Inc. (I) 1,050 71,075
Noodles & Company (I) 2,610 50,086
Oriental Land Company, Ltd. 12,098 2,286,243
Panera Bread Company, Class A (I) 12,892 2,097,786
Papa John’s International, Inc. 7,425 296,926
Penn National Gaming, Inc. (I) 19,487 218,449
Pinnacle Entertainment, Inc. (I) 14,400 361,296
Popeyes Louisiana Kitchen, Inc. (I) 5,810 235,305
Potbelly Corp. (I) (L) 4,208 49,065
Red Robin Gourmet Burgers, Inc. (I) 3,483 198,183
Ruby Tuesday, Inc. (I) 15,131 89,122
Ruth’s Hospitality Group, Inc. 9,514 105,035
Sands China, Ltd. 585,882 3,056,431
Scientific Games Corp., Class A (I) (L) 12,509 134,722
Shangri-La Asia, Ltd. 351,964 519,255
SJM Holdings, Ltd. 471,884 898,409
Sodexo 22,811 2,231,404
Sonic Corp. (I) (L) 13,133 293,654
Speedway Motorsports, Inc. 3,568 60,870
Starbucks Corp. 280,218 21,145,250
Starwood Hotels & Resorts Worldwide, Inc. 71,169 5,921,972
Tabcorp Holdings, Ltd. 180,995 572,353
Tatts Group, Ltd. 349,535 962,327
Texas Roadhouse, Inc. 16,930 471,331
The Cheesecake Factory, Inc. 35,104 1,597,232
The Marcus Corp. 4,836 76,409

The accompanying notes are an integral part of the financial statements. 222


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Hotels, restaurants and leisure (continued)
The Wendy’s Company 137,947       $ 1,139,442
TUI Travel PLC 123,734 778,760
Vail Resorts, Inc. 8,720 756,547
Whitbread PLC 43,465 2,920,667
William Hill PLC 209,920 1,254,482
Wyndham Worldwide Corp. 46,791 3,802,237
Wynn Macau, Ltd. 376,870 1,201,066
Wynn Resorts, Ltd. 30,167 5,643,642
Yum! Brands, Inc. 164,017 11,805,944
Zoe’s Kitchen, Inc. (I) (L) 1,394 42,879
166,616,588
Household durables - 0.6%
Beazer Homes USA, Inc. (I) 6,595 110,664
Casio Computer Company, Ltd. (L) 51,648 863,102
Cavco Industries, Inc. (I) 2,224 151,232
CSS Industries, Inc. 2,379 57,691
D.R. Horton, Inc. 123,957 2,543,598
Electrolux AB 58,261 1,534,604
Ethan Allen Interiors, Inc. 6,083 138,692
Flexsteel Industries, Inc. 1,516 51,135
Garmin, Ltd. (L) 44,997 2,339,394
Harman International Industries, Inc. 25,660 2,515,706
Helen of Troy, Ltd. (I) 6,830 358,712
Hovnanian Enterprises, Inc., Class A (I) (L) 28,695 105,311
Husqvarna AB, B Shares 99,499 701,511
Iida Group Holdings Company, Ltd. 40,400 494,154
iRobot Corp. (I) (L) 7,141 217,443
Jarden Corp. (I) 59,777 3,593,195
KB Home (L) 65,725 981,932
La-Z-Boy, Inc. 12,641 250,165
Leggett & Platt, Inc. 51,112 1,784,831
Lennar Corp., Class A 66,217 2,571,206
LGI Homes, Inc. (I) 3,740 68,666
Libbey, Inc. (I) 5,460 143,380
Lifetime Brands, Inc. 3,114 47,675
M/I Homes, Inc. (I) 6,004 118,999
MDC Holdings, Inc. (L) 28,813 729,545
Meritage Homes Corp. (I) 9,340 331,570
Mohawk Industries, Inc. (I) 23,022 3,103,826
NACCO Industries, Inc., Class A 1,353 67,285
Newell Rubbermaid, Inc. 102,312 3,520,556
Nikon Corp. 82,546 1,193,874
NVR, Inc. (I) 1,998 2,257,780
Panasonic Corp. 532,209 6,343,062
Persimmon PLC (I) 73,780 1,587,569
PulteGroup, Inc. 124,880 2,205,381
Rinnai Corp. 8,978 744,882
Sekisui Chemical Company, Ltd. 103,163 1,185,644
Sekisui House, Ltd. 133,078 1,568,422
Sharp Corp. (I) (L) 370,898 1,055,113
Skullcandy, Inc. (I) 4,947 38,537
Sony Corp. (I) 251,600 4,515,523
Standard Pacific Corp. (I) 34,525 258,592
Techtronic Industries Company 334,742 967,420
Tempur Sealy International, Inc. (I) 30,539 1,715,376
The Dixie Group, Inc. (I) 4,130 35,807
The Ryland Group, Inc. 11,253 374,050
Toll Brothers, Inc. (I) 81,181 2,529,600
TRI Pointe Homes, Inc. (I) 35,503 459,409
Tupperware Brands Corp. 25,266 1,744,365
Universal Electronics, Inc. (I) 3,895 192,296
WCI Communities, Inc. (I) 2,923 53,900
Whirlpool Corp. 29,279 4,264,486
William Lyon Homes, Class A (I) 4,279 94,566
64,881,434
Internet and catalog retail - 0.8%
1-800-Flowers.com, Inc., Class A (I) 6,980 50,186
Amazon.com, Inc. (I) 141,355 45,578,506
ASOS PLC (I) 13,325 484,266
Blue Nile, Inc. (I) 3,108 88,733
Coupons.com, Inc. (I) 3,032 36,263
Expedia, Inc. 37,112 3,251,753
FTD Companies, Inc. (I) 4,528 154,450
HSN, Inc. 24,251 1,488,284
Lands’ End, Inc. (I) 3,999 164,439
Netflix, Inc. (I) 22,424 10,117,260
Nutrisystem, Inc. 7,253 111,479
Orbitz Worldwide, Inc. (I) 12,501 98,383
Overstock.com, Inc. (I) (L) 2,844 47,950
PetMed Express, Inc. (L) 5,596 76,106
Rakuten, Inc. 192,405 2,214,861
RetailMeNot, Inc. (I) (L) 7,327 118,404
Shutterfly, Inc. (I) 9,314 453,964
The Priceline Group, Inc. (I) 19,564 22,666,459
TripAdvisor, Inc. (I) 41,250 3,771,075
ValueVision Media, Inc., Class A (I) 11,533 59,164
91,031,985
Leisure products - 0.2%
Arctic Cat, Inc. 3,146 109,544
Black Diamond, Inc. (I) (L) 5,543 41,905
Brunswick Corp. 68,803 2,899,358
Callaway Golf Company 18,741 135,685
Hasbro, Inc. 42,301 2,326,344
JAKKS Pacific, Inc. (I) (L) 5,132 36,437
Johnson Outdoors, Inc., Class A 1,565 40,534
LeapFrog Enterprises, Inc. (I) (L) 15,753 94,360
Malibu Boats, Inc., Class A (I) 2,516 46,596
Mattel, Inc. 125,922 3,859,509
Namco Bandai Holdings, Inc. 43,493 1,118,911
Nautilus, Inc. (I) 7,823 93,641
Polaris Industries, Inc. 30,426 4,557,511
Sankyo Company, Ltd. 12,251 439,050
Sega Sammy Holdings, Inc. 45,136 726,738
Shimano, Inc. 19,081 2,321,078
Smith & Wesson Holding Corp. (I) (L) 13,387 126,373
Sturm Ruger & Company, Inc. (L) 4,751 231,326
Yamaha Corp. 39,573 517,376
19,722,276
Media - 2.6%
AH Belo Corp., Class A 5,392 57,533
Altice SA (I) 21,004 1,114,246
AMC Entertainment Holdings, Inc., Class A 5,072 116,605
AMC Networks, Inc., Class A (I) 29,639 1,731,510
Axel Springer AG 9,654 530,003
British Sky Broadcasting Group PLC 252,443 3,600,630
Cablevision Systems Corp., Class A (L) 82,440 1,443,524
Carmike Cinemas, Inc. (I) 5,901 182,813
CBS Corp., Class B 180,787 9,672,105
Central European Media
       Enterprises, Ltd., Class A (I) (L) 17,656 39,726
Cinedigm Corp., Class A (I) 22,879 35,462
Cinemark Holdings, Inc. 52,206 1,777,092
Comcast Corp., Class A 965,430 51,920,825
Cumulus Media, Inc., Class A (I) 35,788 144,226

The accompanying notes are an integral part of the financial statements. 223


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Media (continued)
Dentsu, Inc. 52,365       $ 1,994,595
Dex Media, Inc. (I) (L) 3,886 37,150
DIRECTV (I) 187,322 16,207,099
Discovery Communications, Inc., Series A (I) 55,135 2,084,103
Discovery Communications, Inc., Series C (I) 102,035 3,803,865
DreamWorks Animation
       SKG, Inc., Class A (I) 36,088 984,120
Entercom Communications Corp., Class A (I) 7,198 57,800
Entravision Communications Corp., Class A 15,303 60,600
Eros International PLC (I) 5,408 79,011
Eutelsat Communications 37,420 1,207,374
Gannett Company, Inc. 83,754 2,484,981
Gray Television, Inc. (I) 12,315 97,042
Hakuhodo DY Holdings, Inc. 57,073 577,769
Harte-Hanks, Inc. 11,993 76,395
ITV PLC 916,135 3,076,082
JCDecaux SA 16,284 513,571
John Wiley & Sons, Inc., Class A 23,522 1,319,819
Journal Communications, Inc., Class A (I) 11,374 95,883
Kabel Deutschland Holding AG 5,392 731,433
Lagardere SCA 29,019 776,550
Lamar Advertising Company, Class A 40,130 1,976,403
Lee Enterprises, Inc. (I) (L) 15,286 51,667
Live Nation Entertainment, Inc. (I) 72,389 1,738,784
Loral Space & Communications, Inc. (I) 3,247 233,167
Martha Stewart Living
       Omnimedia, Inc., Class A (I) 8,449 30,416
MDC Partners, Inc., Class A 10,356 198,732
Media General, Inc. (I) (L) 13,270 173,970
Meredith Corp. 26,945 1,153,246
National CineMedia, Inc. 14,840 215,328
New Media Investment Group, Inc. 7,568 125,856
News Corp., Class A (I) 187,548 3,066,410
Nexstar Broadcasting Group, Inc., Class A (L) 7,494 302,907
Omnicom Group, Inc. 93,726 6,453,972
Pearson PLC 198,354 3,983,600
ProSiebenSat.1 Media AG 52,968 2,099,932
Publicis Groupe SA 43,451 2,977,627
REA Group, Ltd. 12,375 468,100
Reading International, Inc., Class A (I) 5,436 45,662
Reed Elsevier NV 168,764 3,828,639
Reed Elsevier PLC 279,157 4,462,886
Rentrak Corp. (I) 2,473 150,705
RTLGroup SA 9,481 811,819
Scholastic Corp. 6,455 208,626
Scripps Networks Interactive, Inc., Class A 38,693 3,021,536
SES SA 73,478 2,542,212
SFX Entertainment, Inc. (I) (L) 11,434 57,399
Sinclair Broadcast Group, Inc., Class A (L) 16,681 435,207
Singapore Press Holdings, Ltd. (L) 388,632 1,278,983
Sizmek, Inc. (I) 6,133 47,469
Sky Deutschland AG (I) 106,118 897,012
Societe Television Francaise 1 3 40
Telenet Group Holding NV (I) 12,444 714,818
The EW Scripps Company, Class A (I) (L) 7,751 126,419
The Interpublic Group of Companies, Inc. 156,012 2,858,140
The McClatchy Company, Class A (I) (L) 15,059 50,598
The New York Times Company, Class A 98,859 1,109,198
The Walt Disney Company 589,122 52,449,532
Thomson Reuters Corp. 29,396 1,070,308
Time Warner Cable, Inc. 103,899 14,908,468
Time Warner, Inc. 318,912 23,985,372
Time, Inc. (I) 81,021 1,898,322
Toho Company, Ltd. 27,508 621,496
Twenty-First Century Fox, Inc., Class A 702,558 24,090,714
Viacom, Inc., Class B 142,024 10,927,327
Wolters Kluwer NV 73,006 1,946,875
World Wrestling
       Entertainment, Inc., Class A (L) 7,254 99,888
WPP PLC 322,727 6,465,355
294,992,684
Multiline retail - 0.5%
Big Lots, Inc. 28,102 1,209,791
Burlington Stores, Inc. (I) 6,948 276,947
Dollar General Corp. (I) 113,263 6,921,502
Dollar Tree, Inc. (I) 76,757 4,303,765
Don Quijote Company, Ltd. 13,907 798,087
Family Dollar Stores, Inc. 36,079 2,786,742
Fred’s, Inc., Class A 8,928 124,992
Harvey Norman Holding, Ltd. 129,782 412,060
Isetan Mitsukoshi Holdings, Ltd. 81,628 1,062,349
J Front Retailing Company, Ltd. 58,301 762,706
J.C. Penney Company, Inc. (I) (L) 152,854 1,534,654
Kohl’s Corp. 76,363 4,660,434
Macy’s, Inc. 131,722 7,663,586
Marks & Spencer Group PLC 394,966 2,582,482
Marui Group Company, Ltd. 57,841 476,319
Next PLC 37,518 4,015,739
Nordstrom, Inc. 52,959 3,620,807
Takashimaya Company, Ltd. 64,883 542,716
Target Corp. 236,370 14,815,672
The Bon-Ton Stores, Inc. 4,216 35,246
Tuesday Morning Corp. (I) (L) 10,547 204,665
58,811,261
Specialty retail - 1.9%
Aaron’s, Inc. 32,268 784,758
ABC-Mart, Inc. 6,464 330,144
Abercrombie & Fitch Company, Class A 35,787 1,300,500
Advance Auto Parts, Inc. 36,589 4,767,547
Aeropostale, Inc. (I) (L) 18,527 60,954
America’s Car-Mart, Inc. (I) (L) 2,049 81,120
American Eagle Outfitters, Inc. (L) 134,575 1,954,029
ANN, Inc. (I) 34,218 1,407,386
Asbury Automotive Group, Inc. (I) 7,296 470,008
Ascena Retail Group, Inc. (I) 65,665 873,345
AutoNation, Inc. (I) 29,214 1,469,756
AutoZone, Inc. (I) 12,181 6,208,168
Barnes & Noble, Inc. (I) 9,920 195,821
Bed Bath & Beyond, Inc. (I) 75,386 4,962,660
Best Buy Company, Inc. 108,317 3,638,368
Big 5 Sporting Goods Corp. 4,979 46,653
Brown Shoe Company, Inc. 10,478 284,268
Build-A-Bear Workshop, Inc. (I) 3,230 42,248
Cabela’s, Inc. (I) (L) 23,871 1,406,002
CarMax, Inc. (I) 81,808 3,799,982
Carphone Warehouse Group PLC 237,711 1,409,396
Chico’s FAS, Inc. 76,619 1,131,663
Christopher & Banks Corp. (I) 9,416 93,124
Citi Trends, Inc. (I) 4,085 90,279
Conn’s, Inc. (I) (L) 6,668 201,840
CST Brands, Inc. 37,915 1,363,044
Destination Maternity Corp. 3,894 60,123
Destination XL Group, Inc. (I) 10,672 50,372
Dick’s Sporting Goods, Inc. 49,847 2,187,286
Express, Inc. (I) 20,387 318,241

The accompanying notes are an integral part of the financial statements. 224


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Specialty retail (continued)
Fast Retailing Company, Ltd. 12,846       $ 4,304,591
Five Below, Inc. (I) (L) 13,127 519,960
Foot Locker, Inc. 72,060 4,010,139
Francesca’s Holdings Corp. (I) 10,532 146,711
GameStop Corp., Class A (L) 41,657 1,716,268
Genesco, Inc. (I) 5,800 433,550
Group 1 Automotive, Inc. 5,792 421,136
Guess?, Inc. 46,801 1,028,218
Haverty Furniture Companies, Inc. 4,942 107,686
Hennes & Mauritz AB, B Shares 229,210 9,477,826
hhgregg, Inc. (I) (L) 3,201 20,198
Hibbett Sports, Inc. (I) (L) 6,272 267,375
Hikari Tsushin, Inc. 4,000 284,362
Inditex SA 263,086 7,262,147
Kingfisher PLC 575,291 3,008,700
Kirkland’s, Inc. (I) 3,806 61,315
L Brands, Inc. 91,382 6,120,766
Lithia Motors, Inc., Class A 5,483 415,008
Lowe’s Companies, Inc. 368,340 19,492,553
Lumber Liquidators Holdings, Inc. (I) (L) 6,610 379,282
MarineMax, Inc. (I) 5,985 100,847
Mattress Firm Holding Corp. (I) (L) 3,598 216,096
Monro Muffler Brake, Inc. (L) 7,639 370,721
Murphy USA, Inc. (I) 21,569 1,144,451
Nitori Holdings Company, Ltd. 16,690 1,034,033
O’Reilly Automotive, Inc. (I) 38,772 5,829,758
Office Depot, Inc. (I) 371,454 1,909,274
Outerwall, Inc. (I) (L) 4,900 274,890
Pacific Sunwear of California, Inc. (I) 12,841 23,114
PetSmart, Inc. 37,371 2,619,333
Pier 1 Imports, Inc. 22,740 270,379
Rent-A-Center, Inc. 39,205 1,189,872
Restoration Hardware Holdings, Inc. (I) 7,507 597,182
Ross Stores, Inc. 78,230 5,912,623
Sanrio Company, Ltd. (L) 11,773 341,270
Sears Hometown and Outlet Stores, Inc. (I) 2,955 45,803
Select Comfort Corp. (I) 13,155 275,203
Shimamura Company, Ltd. 5,428 499,012
Shoe Carnival, Inc. 4,054 72,202
Signet Jewelers, Ltd. 40,219 4,581,346
Sonic Automotive, Inc., Class A 9,601 235,321
Sports Direct International PLC (I) 66,176 661,234
Stage Stores, Inc. 7,823 133,852
Staples, Inc. 238,525 2,886,153
Stein Mart, Inc. 6,899 79,683
Systemax, Inc. (I) 2,701 33,681
The Buckle, Inc. (L) 6,816 309,378
The Cato Corp., Class A 6,703 230,985
The Children’s Place Retail Stores, Inc. 5,372 256,030
The Container Store Group, Inc. (I) 4,134 89,997
The Finish Line, Inc., Class A 11,761 294,378
The Gap, Inc. 102,148 4,258,550
The Home Depot, Inc. 502,170 46,069,076
The Men’s Wearhouse, Inc. 11,534 544,635
The Pep Boys - Manny, Moe & Jack (I) 13,000 115,830
The TJX Companies, Inc. 258,427 15,291,126
Tiffany & Company 41,814 4,027,106
Tile Shop Holdings, Inc. (I) (L) 6,786 62,771
Tractor Supply Company 51,093 3,142,730
Urban Outfitters, Inc. (I) 38,876 1,426,749
USS Company, Ltd. 53,648 820,701
Vitamin Shoppe, Inc. (I) 7,408 328,841
West Marine, Inc. (I) 4,334 39,006
Williams-Sonoma, Inc. 43,886 2,921,491
Winmark Corp. 688 50,568
Yamada Denki Company, Ltd. 214,168 625,120
Zumiez, Inc. (I) 4,983 140,022
212,849,299
Textiles, apparel and luxury goods - 1.0%
adidas AG 50,188 3,744,799
Asics Corp. 38,972 878,962
Burberry Group PLC 107,446 2,620,840
Carter’s, Inc. 26,647 2,065,675
Christian Dior SA 13,204 2,211,987
Cie Financiere Richemont SA 126,108 10,308,209
Coach, Inc. 103,289 3,678,121
Columbia Sportswear Company (L) 6,504 232,713
Crocs, Inc. (I) 21,270 267,577
Culp, Inc. 2,834 51,437
Deckers Outdoor Corp. (I) 17,363 1,687,336
Fossil Group, Inc. (I) 17,269 1,621,559
G-III Apparel Group, Ltd. (I) 4,645 384,885
Hanesbrands, Inc. 49,955 5,367,165
Hugo Boss AG 7,668 955,918
Iconix Brand Group, Inc. (I) 10,986 405,823
Kate Spade & Company (I) 63,628 1,668,962
Kering 18,344 3,698,513
Li & Fung, Ltd. 1,417,774 1,609,141
Luxottica Group SpA 40,483 2,104,220
LVMH Moet Hennessy Louis Vuitton SA 67,817 11,012,269
Michael Kors Holdings, Ltd. (I) 76,583 5,467,260
Movado Group, Inc. 4,535 149,927
NIKE, Inc., Class B 262,447 23,410,272
Oxford Industries, Inc. 3,565 217,429
Pandora A/S 27,926 2,180,370
Perry Ellis International, Inc. (I) 3,297 67,094
PVH Corp. 30,473 3,691,804
Quiksilver, Inc. (I) (L) 32,186 55,360
Ralph Lauren Corp. 22,651 3,731,299
Sequential Brands Group, Inc. (I) 4,518 56,475
Skechers U.S.A., Inc., Class A (I) 9,374 499,728
Steven Madden, Ltd. (I) 14,065 453,315
The Swatch Group AG, Bearer Shares 7,410 3,511,576
The Swatch Group AG, Registered Shares 12,035 1,051,407
Tumi Holdings, Inc. (I) 12,292 250,142
Under Armour, Inc., Class A (I) (L) 62,122 4,292,630
Unifi, Inc. (I) 3,793 98,239
Vera Bradley, Inc. (I) (L) 5,302 109,645
VF Corp. 128,777 8,503,145
Vince Holding Corp. (I) 2,668 80,734
Wolverine World Wide, Inc. 24,386 611,113
Yue Yuen Industrial Holdings, Ltd. 180,987 550,236
115,615,311
1,271,571,299
Consumer staples - 8.9%
Beverages - 2.0%
Anheuser-Busch InBev NV 194,629 21,583,943
Asahi Group Holdings, Ltd. 93,703 2,710,468
Brown-Forman Corp., Class B 59,074 5,329,656
Carlsberg A/S, Class B 25,937 2,303,532
Coca-Cola Amatil, Ltd. 138,943 1,066,645
Coca-Cola Bottling Company Consolidated 1,188 88,660
Coca-Cola Company 1,472,651 62,823,292
Coca-Cola Enterprises, Inc. 84,442 3,745,847

The accompanying notes are an integral part of the financial statements. 225


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Beverages (continued)
Coca-Cola HBC AG (I) 48,565       $ 1,048,083
Constellation Brands, Inc., Class A (I) 62,612 5,457,262
Craft Brew Alliance, Inc. (I) 3,278 47,203
Diageo PLC 607,276 17,515,129
Dr. Pepper Snapple Group, Inc. 72,968 4,692,572
Heineken Holding NV 24,415 1,611,992
Heineken NV 55,812 4,168,264
Kirin Holdings Company, Ltd. 198,692 2,635,994
Molson Coors Brewing Company, Class B 59,012 4,392,853
Monster Beverage Corp. (I) 53,665 4,919,471
National Beverage Corp. (I) 2,844 55,458
PepsiCo, Inc. 562,177 52,333,057
Pernod Ricard SA 51,439 5,821,906
Remy Cointreau SA 5,988 431,279
SABMiller PLC 232,848 12,903,940
Suntory Beverage & Food, Ltd. 33,659 1,191,922
The Boston Beer
       Company, Inc., Class A (I) (L) 1,989 441,081
Treasury Wine Estates, Ltd. 155,316 574,149
219,893,658
Food and staples retailing - 1.8%
Aeon Company, Ltd. 153,778 1,532,169
Carrefour SA 151,776 4,687,523
Casey’s General Stores, Inc. 9,173 657,704
Casino Guichard Perrachon SA 13,696 1,473,493
Colruyt SA 16,950 746,876
Costco Wholesale Corp. 163,466 20,485,559
CVS Health Corp. 432,073 34,388,690
Delhaize Group SA 24,823 1,725,125
Distribuidora Internacional
       de Alimentacion SA 149,767 1,073,263
Fairway Group Holdings Corp. (I) (L) 4,428 16,561
FamilyMart Company, Ltd. 14,292 545,437
Ingles Markets, Inc., Class A 3,627 85,924
J Sainsbury PLC 299,527 1,217,999
Jeronimo Martins SGPS SA 60,872 669,849
Koninklijke Ahold NV 225,363 3,645,396
Lawson, Inc. 15,789 1,104,649
Metcash, Ltd. 211,887 487,970
Metro AG (I) 39,268 1,287,798
Natural Grocers by Vitamin Cottage, Inc. (I) 2,221 36,158
Olam International, Ltd. 119,781 220,005
PriceSmart, Inc. (L) 4,517 386,836
Roundy’s, Inc. (L) 10,252 30,653
Safeway, Inc. 86,750 2,975,525
Seven & I Holdings Company, Ltd. 183,329 7,110,671
SpartanNash Company 9,170 178,357
SUPERVALU, Inc. (I) 152,090 1,359,685
Sysco Corp. 218,605 8,296,060
Tesco PLC 1,968,722 5,881,083
The Andersons, Inc. 6,814 428,464
The Chefs’ Warehouse, Inc. (I) (L) 4,518 73,463
The Fresh Market, Inc. (I) (L) 10,294 359,569
The Kroger Company 182,370 9,483,240
The Pantry, Inc. (I) 5,863 118,608
United Natural Foods, Inc. (I) 36,835 2,263,879
Village Super Market, Inc., Class A 1,933 44,034
Wal-Mart Stores, Inc. 588,899 45,033,107
Walgreen Company 328,349 19,461,245
Weis Markets, Inc. 2,658 103,742
Wesfarmers, Ltd. 276,291 10,181,823
Whole Foods Market, Inc. 134,723 5,134,294
WM Morrison Supermarkets PLC 509,370 1,385,987
Woolworths, Ltd. 305,016 9,133,418
205,511,891
Food products - 2.2%
Ajinomoto Company, Inc. 141,296 2,349,753
Annie’s, Inc. (I) 4,178 191,770
Archer-Daniels-Midland Company 240,934 12,311,727
Aryzta AG (I) 21,114 1,819,353
Associated British Foods PLC 86,284 3,740,322
B&G Foods, Inc. 12,988 357,819
Barry Callebaut AG (I) 528 586,230
Boulder Brands, Inc. (I) 14,840 202,269
Cal-Maine Foods, Inc. 3,757 335,613
Calavo Growers, Inc. 3,368 152,032
Calbee, Inc. 17,700 578,509
Campbell Soup Company 67,436 2,881,540
Chiquita Brands International, Inc. (I) 11,450 162,590
ConAgra Foods, Inc. 156,640 5,175,386
Danone SA 140,120 9,383,263
Darling International, Inc. (I) 39,624 725,912
Dean Foods Company (L) 69,556 921,617
Diamond Foods, Inc. (I) 5,329 152,463
Farmer Brothers Company (I) 2,110 61,085
Flowers Foods, Inc. 92,457 1,697,511
Fresh Del Monte Produce, Inc. 8,422 268,662
General Mills, Inc. 228,698 11,537,814
Golden Agri-Resources, Ltd. 1,709,561 690,694
Hormel Foods Corp. 49,515 2,544,576
Ingredion, Inc. 37,396 2,834,243
Inventure Foods, Inc. (I) 4,398 56,998
J&J Snack Foods Corp. 3,629 339,529
John B. Sanfilippo & Son, Inc. 2,354 76,175
Kellogg Company 95,031 5,853,910
Kerry Group PLC 38,453 2,709,196
Keurig Green Mountain, Inc. 45,464 5,916,230
Kikkoman Corp. 35,746 759,710
Kraft Foods Group, Inc. 221,698 12,503,767
Lancaster Colony Corp. 14,184 1,209,612
Limoneira Company (L) 3,129 74,126
Lindt & Spruengli AG 249 2,599,437
McCormick & Company, Inc. 48,214 3,225,517
Mead Johnson Nutrition Company 75,480 7,262,686
MEIJI Holdings Company, Ltd. 14,878 1,176,561
Mondelez International, Inc., Class A 629,061 21,554,775
Nestle SA 780,805 57,382,123
NH Foods, Ltd. 41,882 889,269
Nisshin Seifun Group, Inc. 47,080 465,747
Nissin Food Products Company, Ltd. 14,275 741,199
Omega Protein Corp. (I) 5,186 64,825
Orkla ASA 197,366 1,783,972
Post Holdings, Inc. (I) 33,069 1,097,229
Sanderson Farms, Inc. (L) 5,542 487,419
Seaboard Corp. (I) 66 176,549
Seneca Foods Corp., Class A (I) 2,332 66,695
Snyder’s-Lance, Inc. 11,645 308,593
Tate & Lyle PLC 112,809 1,075,278
The Hain Celestial Group, Inc. (I) 25,248 2,584,133
The Hershey Company 55,542 5,300,373
The J.M. Smucker Company 38,061 3,767,658
The WhiteWave Foods Company, Class A (I) 87,301 3,171,645
Tootsie Roll Industries, Inc. (L) 14,621 409,242
Toyo Suisan Kaisha, Ltd. 21,650 718,895
TreeHouse Foods, Inc. (I) 10,080 811,440
Tyson Foods, Inc., Class A 109,379 4,306,251

The accompanying notes are an integral part of the financial statements. 226


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Food products (continued)
Unilever NV 393,879       $ 15,631,149
Unilever PLC 310,168 12,982,984
Wilmar International, Ltd. 465,403 1,125,719
Yakult Honsha Company, Ltd. 21,303 1,118,875
Yamazaki Baking Company, Ltd. 26,390 339,651
243,787,895
Household products - 1.4%
Central Garden & Pet Company, Class A (I) 10,685 85,907
Church & Dwight Company, Inc. 67,015 4,701,772
Colgate-Palmolive Company 320,299 20,889,901
Energizer Holdings, Inc. 30,968 3,815,567
Harbinger Group, Inc. (I) 20,223 265,326
Henkel AG & Company, KGaA 28,334 2,642,244
Kimberly-Clark Corp. 139,547 15,011,071
Orchids Paper Products Company 2,324 57,077
Procter & Gamble Company 1,010,100 84,585,774
Reckitt Benckiser Group PLC 157,386 13,607,222
Svenska Cellulosa AB SCA, B Shares 142,139 3,377,380
The Clorox Company (L) 47,692 4,580,340
Unicharm Corp. 90,222 2,056,286
WD-40 Company 3,736 253,899
155,929,766
Personal products - 0.2%
Avon Products, Inc. 164,013 2,066,564
Beiersdorf AG 24,411 2,031,036
Elizabeth Arden, Inc. (I) (L) 6,405 107,220
IGI Laboratories, Inc. (I) 8,281 77,179
Inter Parfums, Inc. 4,177 114,868
Kao Corp. 124,975 4,876,857
L’Oreal SA 60,918 9,661,276
Medifast, Inc. (I) 3,282 107,748
Nature’s Sunshine Products, Inc. 3,109 46,106
Nutraceutical International Corp. (I) 2,404 50,268
Revlon, Inc., Class A (I) 2,780 88,098
Shiseido Company, Ltd. 87,160 1,437,743
The Estee Lauder Companies, Inc., Class A 83,951 6,272,819
USANA Health Sciences, Inc. (I) (L) 1,435 105,702
27,043,484
Tobacco - 1.3%
Alliance One International, Inc. (I) 25,631 50,493
Altria Group, Inc. 739,971 33,994,268
British American Tobacco PLC 453,689 25,565,633
Imperial Tobacco Group PLC 231,796 9,980,193
Japan Tobacco, Inc. 266,489 8,659,674
Lorillard, Inc. 134,357 8,049,328
Philip Morris International, Inc. 582,694 48,596,680
Reynolds American, Inc. 115,036 6,787,124
Swedish Match AB 48,936 1,583,156
Universal Corp. (L) 17,320 768,835
Vector Group, Ltd. (L) 16,852 373,767
144,409,151
996,575,845
Energy - 8.1%
Energy equipment and services - 1.5%
Aker Solutions ASA (I) 37,204 370,607
Aker Solutions ASA 37,204 149,801
AMEC PLC 72,188 1,288,134
Atwood Oceanics, Inc. (I) 30,003 1,310,831
Baker Hughes, Inc. 162,448 10,568,867
Basic Energy Services, Inc. (I) 7,702 167,056
Bristow Group, Inc. 8,500 571,200
C&J Energy Services, Inc. (I) 11,182 341,610
Cameron International Corp. (I) 75,813 5,032,467
CARBO Ceramics, Inc. (L) 14,597 864,580
CHC Group, Ltd. (I) (L) 8,258 46,245
Dawson Geophysical Company 2,250 40,905
Diamond Offshore Drilling, Inc. (L) 25,558 875,873
Dresser-Rand Group, Inc. (I) 38,416 3,160,100
Dril-Quip, Inc. (I) 20,044 1,791,934
Ensco PLC, Class A (L) 86,613 3,577,983
Era Group, Inc. (I) 5,076 110,403
Exterran Holdings, Inc. 14,011 620,827
FMC Technologies, Inc. (I) 87,452 4,749,518
Forum Energy Technologies, Inc. (I) 14,345 439,100
Fugro NV 17,975 542,728
Geospace Technologies Corp. (I) 3,258 114,519
Gulf Island Fabrication, Inc. 3,644 62,677
Gulfmark Offshore, Inc., Class A 6,531 204,747
Halliburton Company 317,341 20,471,668
Helix Energy Solutions Group, Inc. (I) 74,669 1,647,198
Helmerich & Payne, Inc. 40,121 3,926,642
Hercules Offshore, Inc. (I) (L) 39,841 87,650
Hornbeck Offshore Services, Inc. (I) 8,715 285,242
ION Geophysical Corp. (I) 30,693 85,633
Key Energy Services, Inc. (I) 31,976 154,764
Matrix Service Company (I) 6,506 156,925
McDermott International, Inc. (I) (L) 56,692 324,278
Nabors Industries, Ltd. 108,255 2,463,884
National Oilwell Varco, Inc. 160,605 12,222,041
Natural Gas Services Group, Inc. (I) 3,415 82,199
Newpark Resources, Inc. (I) 20,392 253,676
Noble Corp. PLC 95,771 2,128,032
Nordic American Offshore, Ltd. 180 3,172
North Atlantic Drilling, Ltd. (L) 17,035 113,453
Nuverra Environmental Solutions, Inc. (I) (L) 3,618 53,366
Oceaneering International, Inc. 54,157 3,529,412
Oil States International, Inc. (I) 27,116 1,678,480
Parker Drilling Company (I) 29,157 144,036
Patterson-UTI Energy, Inc. 73,271 2,383,506
Petrofac, Ltd. 62,856 1,053,218
PHI, Inc. (I) 3,121 128,429
Pioneer Energy Services Corp. (I) 15,211 213,258
RigNet, Inc. (I) 2,859 115,647
Rowan Companies PLC, Class A 62,429 1,580,078
Saipem SpA (I) 64,143 1,360,243
Schlumberger, Ltd. 483,718 49,189,283
SEACOR Holdings, Inc. (I) 4,988 373,102
Seadrill, Ltd. (L) 90,944 2,429,878
Subsea 7 SA 68,162 974,073
Superior Energy Services, Inc. 77,558 2,549,331
Technip SA 24,784 2,079,030
Tenaris SA 114,439 2,611,445
Tesco Corp. 8,503 168,785
TETRA Technologies, Inc. (I) 19,159 207,300
Tidewater, Inc. 24,931 973,057
Transocean, Ltd. (L) 126,279 4,037,140
Transocean, Ltd. 87,487 2,813,941
Unit Corp. (I) 23,120 1,355,988
Vantage Drilling Company (I) (L) 50,741 64,441
Willbros Group, Inc. (I) 9,986 83,183
WorleyParsons, Ltd. 49,686 665,613
164,224,432

The accompanying notes are an integral part of the financial statements. 227


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Oil, gas and consumable fuels - 6.6%
Abraxas Petroleum Corp. (I) 22,846       $ 120,627
Adams Resources & Energy, Inc. 558 24,714
Alon USA Energy, Inc. 6,416 92,134
Alpha Natural Resources, Inc. (I) (L) 53,681 133,129
American Eagle Energy Corp. (I) 8,478 34,505
Anadarko Petroleum Corp. 188,767 19,148,524
Apache Corp. 142,710 13,396,188
Approach Resources, Inc. (I) (L) 9,699 140,636
Arch Coal, Inc. (L) 51,482 109,142
Ardmore Shipping Corp. 5,328 58,075
BG Group PLC 824,328 15,217,786
Bill Barrett Corp. (I) (L) 12,038 265,318
Bonanza Creek Energy, Inc. (I) 7,953 452,526
BP PLC 4,464,974 32,662,780
BPZ Resources, Inc. (I) (L) 28,256 53,969
Cabot Oil & Gas Corp. 155,302 5,076,822
Callon Petroleum Company (I) 10,163 89,536
Caltex Australia, Ltd. 32,830 803,620
Carrizo Oil & Gas, Inc. (I) 11,004 592,235
Chesapeake Energy Corp. 193,769 4,454,749
Chevron Corp. 708,434 84,530,345
Cimarex Energy Company 32,313 4,088,564
Clayton Williams Energy, Inc. (I) 1,447 139,563
Clean Energy Fuels Corp. (I) (L) 17,558 136,952
Cloud Peak Energy, Inc. (I) 14,588 184,101
Comstock Resources, Inc. 11,582 215,657
ConocoPhillips 458,755 35,103,933
CONSOL Energy, Inc. 86,506 3,275,117
Contango Oil & Gas Company (I) 4,350 144,594
Delek Group, Ltd. 1,193 451,520
Delek US Holdings, Inc. 14,330 474,610
Denbury Resources, Inc. 132,411 1,990,137
Devon Energy Corp. 143,498 9,783,694
DHT Holdings, Inc. 16,907 104,147
Diamondback Energy, Inc. (I) 10,141 758,344
Emerald Oil, Inc. (I) (L) 13,472 82,853
Energen Corp. 36,700 2,651,208
Energy XXI Bermuda, Ltd. (L) 22,714 257,804
Eni SpA 615,173 14,595,732
EOG Resources, Inc. 204,264 20,226,221
EQT Corp. 56,507 5,172,651
Evolution Petroleum Corp. 5,985 54,942
EXCO Resources, Inc. (L) 37,029 123,677
Exxon Mobil Corp. 1,590,991 149,632,704
Forest Oil Corp. (I) (L) 28,246 33,048
Frontline, Ltd. (I) (L) 15,867 19,992
FX Energy, Inc. (I) (L) 13,590 41,314
Galp Energia SGPS SA 93,242 1,515,397
GasLog, Ltd. 10,204 224,590
Gastar Exploration, Inc. (I) 13,140 77,132
Goodrich Petroleum Corp. (I) (L) 8,495 125,896
Green Plains Renewable Energy, Inc. 9,044 338,155
Gulfport Energy Corp. (I) 42,870 2,289,258
Halcon Resources Corp. (I) (L) 63,375 250,965
Harvest Natural Resources, Inc. (I) (L) 11,229 41,210
Hess Corp. 97,634 9,208,839
HollyFrontier Corp. 99,557 4,348,650
Idemitsu Kosan Company, Ltd. 21,500 456,657
Inpex Corp. 212,557 3,005,145
Jones Energy, Inc., Class A (I) 3,254 61,110
JX Holdings, Inc. 544,111 2,508,765
Kinder Morgan, Inc. (L) 245,408 9,408,943
Kodiak Oil & Gas Corp. (I) 64,266 872,090
Koninklijke Vopak NV 17,043 918,352
Lundin Petroleum AB (I) 53,930 911,654
Magnum Hunter Resources Corp. (I) (L) 48,630 270,869
Marathon Oil Corp. 251,724 9,462,305
Marathon Petroleum Corp. 105,717 8,951,058
Matador Resources Company (I) 17,784 459,716
Midstates Petroleum Company, Inc. (I) (L) 9,685 48,909
Miller Energy Resources, Inc. (I) (L) 8,062 35,473
Murphy Oil Corp. 62,355 3,548,623
Navios Maritime Acquisition Corp. (L) 22,567 61,157
Neste Oil OYJ 31,318 644,532
Newfield Exploration Company (I) 51,654 1,914,814
Noble Energy, Inc. 134,435 9,189,977
Nordic American Tankers, Ltd. (L) 21,774 173,103
Northern Oil and Gas, Inc. (I) (L) 14,881 211,608
Occidental Petroleum Corp. 290,881 27,968,208
OMV AG 35,692 1,200,210
ONEOK, Inc. 77,357 5,070,751
Origin Energy, Ltd. 266,952 3,491,224
Pacific Ethanol, Inc. (I) 5,815 81,177
Panhandle Oil and Gas, Inc., Class A 1,684 100,535
Parsley Energy, Inc. (I) 12,979 276,842
PDC Energy, Inc. (I) 8,676 436,316
Peabody Energy Corp. (L) 136,119 1,685,153
Penn Virginia Corp. (I) 15,894 202,013
Petroquest Energy, Inc. (I) 14,133 79,427
Phillips 66 208,530 16,955,574
Pioneer Natural Resources Company 53,398 10,517,804
QEP Resources, Inc. 61,930 1,906,205
Quicksilver Resources, Inc. (I) (L) 29,060 17,517
Range Resources Corp. 62,648 4,248,161
Renewable Energy Group, Inc. (I) 8,749 88,802
Repsol SA 246,892 5,857,284
Resolute Energy Corp. (I) (L) 18,657 116,979
REX American Resources Corp. (I) 1,505 109,684
Rex Energy Corp. (I) 11,845 150,076
Ring Energy, Inc. (I) 5,242 77,267
Rosetta Resources, Inc. (I) 45,720 2,037,283
Royal Dutch Shell PLC, A Shares 951,881 36,381,284
Royal Dutch Shell PLC, B Shares 591,219 23,373,239
RSP Permian, Inc. (I) 5,742 146,766
Sanchez Energy Corp. (I) (L) 12,434 326,517
Santos, Ltd. 235,662 2,818,672
Scorpio Tankers, Inc. 41,759 347,017
SemGroup Corp., Class A 10,293 857,098
Ship Finance International, Ltd. (L) 14,102 238,606
Showa Shell Sekiyu KK 45,794 436,893
SM Energy Company 33,781 2,634,918
Solazyme, Inc. (I) (L) 18,116 135,145
Southwestern Energy Company (I) 131,296 4,588,795
Spectra Energy Corp. 250,407 9,830,979
Statoil ASA 269,134 7,327,382
Stone Energy Corp. (I) 13,607 426,716
Swift Energy Company (I) (L) 10,865 104,304
Synergy Resources Corp. (I) 15,915 194,004
Teekay Tankers, Ltd., Class A (L) 14,928 55,681
Tesoro Corp. 47,645 2,905,392
The Williams Companies, Inc. 250,966 13,890,968
TonenGeneral Sekiyu KK 67,557 590,937
Total SA 518,214 33,556,480
Transatlantic Petroleum, Ltd. (I) 6,076 54,623
Triangle Petroleum Corp. (I) (L) 18,429 202,903
Tullow Oil PLC 220,553 2,299,505

The accompanying notes are an integral part of the financial statements. 228


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Oil, gas and consumable fuels (continued)
VAALCO Energy, Inc. (I) 12,348 $ 104,958
Valero Energy Corp. 197,010 9,115,653
W&T Offshore, Inc. 8,700 95,700
Warren Resources, Inc. (I) 18,253 96,741
Western Refining, Inc. 12,832 538,816
Westmoreland Coal Company (I) 3,693 138,155
Woodside Petroleum, Ltd. 179,501   6,373,655
World Fuel Services Corp. 36,243 1,446,821
WPX Energy, Inc. (I) 101,747 2,448,033
745,493,239
909,717,671
Financials - 19.0%
Banks - 8.0%
1st Source Corp. 3,496 99,566
1st United Bancorp, Inc. 9,054 77,140
Ameris Bancorp 6,543 143,619
Aozora Bank, Ltd. 283,271 957,856
Associated Banc-Corp. 77,684 1,353,255
Australia & New Zealand Banking Group, Ltd. 665,989 18,003,140
Banc of California, Inc. (L) 7,494 87,155
Banca Monte dei Paschi di Siena SpA (I) 1,053,507 1,379,078
BancFirst Corp. 1,794 112,233
Banco Bilbao Vizcaya Argentaria SA 1,426,480   17,168,354
Banco Comercial Portugues SA (I) 8,528,087 1,113,548
Banco de Sabadell SA 825,870 2,438,536
Banco Espirito Santo SA (I) 625,609 21,898
Banco Latinoamericano de
       Comercio Exterior SA 7,112 218,196
Banco Popolare SC (I) 87,711 1,277,367
Banco Popular Espanol SA 434,387 2,649,459
Banco Santander SA 2,911,862 27,877,073
BancorpSouth, Inc. 65,934 1,327,911
Bank Hapoalim, Ltd. 257,285 1,450,689
Bank Leumi Le-Israel BM (I) 322,662 1,306,830
Bank of America Corp. 3,922,927 66,885,905
Bank of East Asia, Ltd. 305,090 1,237,761
Bank of Hawaii Corp. 22,189 1,260,557
Bank of Ireland (I) 6,677,783 2,610,920
Bank of Kentucky Financial Corp. 2,102 97,175
Bank of Marin Bancorp, Class A 2,009 92,193
Bank of Queensland, Ltd. 87,287 888,418
Bank of the Ozarks, Inc. 19,225 605,972
Bankia SA (I) 1,116,016 2,076,215
Banner Corp. 4,845 186,387
Barclays PLC 3,970,368 14,603,724
BB&T Corp. 268,625 9,995,536
BBCN Bancorp, Inc. 19,335 282,098
Bendigo and Adelaide Bank, Ltd. 105,212 1,097,366
BNC Bancorp 5,817 91,094
BNP Paribas SA 255,931 16,985,674
BOC Hong Kong Holdings, Ltd. 896,878 2,855,112
Boston Private Financial Holdings, Inc. 19,559 242,336
Bridge Bancorp, Inc. 3,305 78,163
Bridge Capital Holdings (I) 3,324 75,588
Bryn Mawr Bank Corp. 3,989 113,008
CaixaBank SA 429,905 2,614,043
Camden National Corp. 2,714 94,990
Capital Bank Financial Corp., Class A (I) 6,092 145,477
Cardinal Financial Corp. 8,746 149,294
Cascade Bancorp (I) 9,214 46,531
Cathay General Bancorp 56,420 1,400,909
Centerstate Banks, Inc. 9,824 101,678
Central Pacific Financial Corp. 4,321 77,476
Chemical Financial Corp. 8,026 215,819
Citigroup, Inc. 1,130,923 58,604,430
Citizens & Northern Corp. 3,922 74,518
City Holding Company (L) 4,153 174,966
City National Corp. 23,997 1,815,853
CNB Financial Corp. 4,064 63,805
CoBiz Financial, Inc. 9,174 102,565
Columbia Banking System, Inc. 12,997 322,456
Comerica, Inc. 67,095 3,345,357
Commerce Bancshares, Inc. 39,524 1,764,549
Commerzbank AG (I) 234,403 3,480,678
Commonwealth Bank of Australia 392,568 25,847,692
Community Bank Systems, Inc. 9,972 334,959
Community Trust Bancorp, Inc. 3,700 124,431
ConnectOne Bancorp, Inc. 6,323 120,453
Credit Agricole SA 242,281 3,652,026
CU Bancorp (I) 3,018 56,738
Customers Bancorp, Inc. (I) 6,314 113,399
CVB Financial Corp. 25,998 373,071
Danske Bank A/S 158,852 4,306,116
DBS Group Holdings, Ltd. 415,483 5,992,315
DNB ASA 236,649 4,428,671
Eagle Bancorp, Inc. (I) 5,391 171,542
East West Bancorp, Inc. 71,893 2,444,362
Enterprise Financial Services Corp. 5,169 86,426
Erste Group Bank AG 67,657 1,544,778
Fidelity Southern Corp. (L) 5,003 68,541
Fifth Third Bancorp 311,347 6,233,167
Financial Institutions, Inc. 4,234 95,180
First Bancorp North Carolina 5,316 85,162
First BanCorp Puerto Rico (I) 25,397 120,636
First Bancorp, Inc. 3,045 50,760
First Busey Corp. 20,454 113,929
First Citizens BancShares, Inc., Class A 1,740 376,936
First Commonwealth Financial Corp. 23,051 193,398
First Community Bancshares, Inc. 4,935 70,521
First Connecticut Bancorp, Inc. 5,704 82,708
First Financial Bancorp 14,287 226,163
First Financial Bankshares, Inc. (L) 15,707 436,498
First Financial Corp. 3,049 94,367
First Horizon National Corp. 118,915 1,460,276
First Interstate Bancsystem, Inc. 4,765 126,606
First Merchants Corp. 8,505 171,886
First Midwest Bancorp, Inc. 18,232 293,353
First NBC Bank Holding Company (I) 3,851 126,120
First Niagara Financial Group, Inc. 177,475 1,478,367
FirstMerit Corp. 122,600 2,157,760
Flushing Financial Corp. 8,389 153,267
FNB Corp. 41,485 497,405
Frost Bankers, Inc. 27,466 2,101,424
Fukuoka Financial Group, Inc. 187,272 893,328
Fulton Financial Corp. 94,153 1,043,215
German American Bancorp, Inc. 3,499 90,309
Glacier Bancorp, Inc. 18,055 466,902
Great Southern Bancorp, Inc. 3,105 94,206
Hancock Holding Company 60,867 1,950,787
Hang Seng Bank, Ltd. 185,290 2,975,711
Hanmi Financial Corp. 7,979 160,857
Heartland Financial USA, Inc. 3,874 92,511
Heritage Commerce Corp. 6,598 54,170
Heritage Financial Corp. 7,341 116,281
Hokuhoku Financial Group, Inc. 294,899 578,066

The accompanying notes are an integral part of the financial statements. 229


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Banks (continued)
Home BancShares, Inc. 13,292 $ 390,918
HomeTrust Bancshares, Inc. (I) 7,165 104,681
Horizon Bancorp 3,470 79,949
HSBC Holdings PLC 4,619,465 46,939,708
Hudson Valley Holding Corp. 4,489 81,475
Huntington Bancshares, Inc. 304,781 2,965,519
Iberiabank Corp. 7,615 476,014
Independent Bank Corp. 5,972 213,320
Independent Bank Corp. (MI) 6,118 72,927
Independent Bank Group, Inc. 2,230 105,814
ING Groep NV (I) 932,724 13,257,941
International Bancshares Corp. 42,424 1,046,388
Intesa Sanpaolo RSP 220,970 589,009
Intesa Sanpaolo SpA 2,831,683 8,548,075
Investors Bancorp, Inc. 85,912 870,289
JPMorgan Chase & Company 1,403,154 84,525,997
KBC Groep NV (I) 60,659 3,220,147
KeyCorp 327,312 4,363,069
Lakeland Bancorp, Inc. 10,092 98,498
Lakeland Financial Corp. 4,427 166,013
Lloyds Banking Group PLC (I) 13,806,089 17,175,705
M&T Bank Corp. (L) 49,557     6,109,883
MainSource Financial Group, Inc. 5,396   93,081
MB Financial, Inc. 16,095 445,510
Mercantile Bank Corp. 4,506 85,839
Metro Bancorp, Inc. (I) 4,044   98,067
Mitsubishi UFJ Financial Group, Inc. 3,088,192 17,404,166
Mizrahi Tefahot Bank, Ltd. 32,781 391,857
Mizuho Financial Group, Inc. 5,558,006 9,922,105
National Australia Bank, Ltd. 569,343 16,194,177
National Bank Holdings Corp., Class A 10,356 198,007
National Penn Bancshares, Inc. 28,892 280,541
Natixis 224,273 1,542,981
NBT Bancorp, Inc. 10,476 235,920
NewBridge Bancorp (I) 10,061 76,363
Nordea Bank AB 733,296 9,506,013
OFG Bancorp (L) 10,979 164,465
Old National Bancorp 28,105 364,522
OmniAmerican Bancorp, Inc. 3,060 79,529
Oversea-Chinese Banking Corp., Ltd. 703,124 5,363,644
Pacific Continental Corp. 5,054 64,944
Pacific Premier Bancorp, Inc. (I) 4,491 63,099
PacWest Bancorp 48,545 2,001,510
Park National Corp. (L) 3,001 226,335
Park Sterling Corp. 12,826 85,036
Peapack Gladstone Financial Corp. 3,404 59,570
Peoples Bancorp, Inc. 3,394 80,608
Peoples Financial Services Corp. (L) 2,163 99,476
Pinnacle Financial Partners, Inc. 8,597 310,352
Preferred Bank 3,695 83,211
PrivateBancorp, Inc. 17,367 519,447
Prosperity Bancshares, Inc. 46,678 2,668,581
Raiffeisen Bank International AG 28,385 614,933
Regions Financial Corp. 512,860 5,149,114
Renasant Corp. 7,418 200,657
Republic Bancorp, Inc., Class A 2,667 63,181
Resona Holdings, Inc. 534,632 3,016,063
Royal Bank of Scotland Group PLC (I) 612,034 3,646,284
S&T Bancorp, Inc. 6,974 163,610
Sandy Spring Bancorp, Inc. 6,177 141,392
Seacoast Banking Corp. of Florida (I) 6,658 72,772
Seven Bank, Ltd. 144,540 589,052
Shinsei Bank, Ltd. 399,663 857,829
Sierra Bancorp 3,572 59,867
Signature Bank (I) 25,226 2,826,826
Simmons First National Corp., Class A 4,159 160,205
Skandinaviska Enskilda Banken AB, Series A 365,310 4,860,314
Societe Generale SA 174,782 8,915,259
South State Corp. 5,991 335,017
Southside Bancshares, Inc. (L) 4,807 159,833
Southwest Bancorp, Inc. 5,420 88,888
Standard Chartered PLC 598,337 11,036,243
State Bank Financial Corp. 8,965 145,592
Sterling Bancorp 20,260 259,125
Stock Yards Bancorp, Inc. 3,780 113,778
Stonegate Bank (L) 3,121 80,366
Suffolk Bancorp 3,343 64,888
Sumitomo Mitsui Financial Group, Inc. 307,509 12,529,287
Sumitomo Mitsui Trust Holdings, Inc. 803,753 3,346,389
SunTrust Banks, Inc. 198,147 7,535,530
Suruga Bank, Ltd. 43,803 873,956
Susquehanna Bancshares, Inc. 44,996 449,960
SVB Financial Group (I) 25,437 2,851,233
Svenska Handelsbanken AB, Class A 120,196 5,628,962
Swedbank AB, Class A 218,086 5,468,617
Synovus Financial Corp. 69,717 1,648,110
TCF Financial Corp. 83,661 1,299,255
Texas Capital Bancshares, Inc. (I) 10,391 599,353
The Bancorp, Inc. (I) 8,632 74,149
The Bank of Kyoto, Ltd. 84,070 698,596
The Bank of Yokohama, Ltd. 281,566 1,548,282
The Chiba Bank, Ltd. 180,204 1,253,575
The Chugoku Bank, Ltd. 36,312 533,304
The First of Long Island Corp. 2,320 79,924
The Gunma Bank, Ltd. 91,025 524,717
The Hachijuni Bank, Ltd. 101,338 609,012
The Hiroshima Bank, Ltd. 120,000 589,668
The Iyo Bank, Ltd. 57,559 582,681
The Joyo Bank, Ltd. 164,944 811,855
The PNC Financial Services Group, Inc. 201,327 17,229,565
The Shizuoka Bank, Ltd. 128,908 1,327,285
Tompkins Financial Corp. 3,578 157,718
TowneBank (L) 6,982 94,816
Trico Bancshares (L) 4,990 112,874
TriState Capital Holdings, Inc. (I) 6,989 63,390
Trustmark Corp. 50,277 1,158,131
U.S. Bancorp 672,301 28,122,351
UMB Financial Corp. 9,089 495,805
Umpqua Holdings Corp. 133,690 2,201,874
UniCredit SpA 1,065,341 8,369,199
Union Bankshares Corp. 11,309 261,238
Unione di Banche Italiane SCPA 207,395 1,733,387
United Bankshares, Inc. (L) 16,679 515,881
United Community Banks, Inc. 12,183 200,532
United Overseas Bank, Ltd. 308,139 5,401,898
Univest Corp. of Pennsylvania 5,395 101,156
Valley National Bancorp (L) 142,847 1,384,187
ViewPoint Financial Group, Inc. 9,952 238,251
Washington Trust Bancorp, Inc. 3,664 120,875
Webster Financial Corp. 66,958 1,951,156
Wells Fargo & Company 1,772,257 91,926,971
WesBanco, Inc. 6,238 190,820
West Bancorp, Inc. 4,440 62,737
WestAmerica Bancorp. (L) 6,620 307,962
Western Alliance Bancorp (I) 18,256 436,318
Westpac Banking Corp. 752,653 21,129,576

The accompanying notes are an integral part of the financial statements. 230


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Banks (continued)
Wilshire Bancorp, Inc. 17,478 $ 161,322
Wintrust Financial Corp. 11,174 499,143
Yadkin Financial Corp. (I) 5,448 98,936
Yamaguchi Financial Group, Inc. 52,133 493,113
Zions Bancorporation 75,657 2,198,592
892,962,108
Capital markets - 2.1%
3i Group PLC 235,243 1,456,907
Aberdeen Asset Management PLC 221,804 1,430,971
Actua Corp. (I) 10,211 163,580
Affiliated Managers Group, Inc. (I) 20,742 4,155,867
Ameriprise Financial, Inc. 69,884 8,622,288
Arlington Asset Investment Corp., Class A (L) 4,583 116,454
BGC Partners, Inc., Class A 41,787 310,477
BlackRock, Inc. 46,962 15,418,564
Calamos Asset Management, Inc., Class A 5,028 56,666
Cohen & Steers, Inc. (L) 4,631 178,016
CorEnergy Infrastructure Trust, Inc. 9,040 67,619
Cowen Group, Inc., Class A (I) 28,601 107,254
Credit Suisse Group AG (I) 366,211 10,131,467
Daiwa Securities Group, Inc. 402,508 3,192,160
Deutsche Bank AG 333,207 11,634,756
Diamond Hill Investment Group, Inc. 769 94,625
E*TRADE Financial Corp. (I) 106,305 2,401,430
Eaton Vance Corp. 59,537 2,246,331
Evercore Partners, Inc., Class A 7,902 371,394
FBR & Company (I) 2,671 73,506
Federated Investors, Inc., Class B (L) 47,864 1,405,287
Financial Engines, Inc. (L) 12,454 426,114
Franklin Resources, Inc. 146,994 8,027,342
FXCM, Inc., Class A (L) 11,028 174,794
GAMCO Investors, Inc., Class A 1,528 108,091
GFI Group, Inc. 18,337 99,203
Greenhill & Company, Inc. 6,741 313,389
Hargreaves Lansdown PLC 57,510 877,693
HFF, Inc., Class A 7,951 230,181
ICAP PLC 133,453 834,598
INTL. FCStone, Inc. (I) 4,330 74,996
Invesco, Ltd. 161,436 6,373,493
Investec PLC 132,814 1,115,180
Investment Technology Group, Inc. (I) 8,735 137,664
Janus Capital Group, Inc. (L) 109,983 1,599,153
Julius Baer Group, Ltd. (I) 54,194 2,421,778
KCG Holdings, Inc., Class A (I) 10,778 109,181
Ladenburg Thalmann
       Financial Services, Inc. (I) 24,444 103,643
Legg Mason, Inc. 37,364 1,911,542
Macquarie Group, Ltd. 69,372 3,490,759
Manning & Napier, Inc. 3,877 65,095
Marcus & Millichap, Inc. (I) 1,929 58,372
Mediobanca SpA (I) 145,905 1,246,581
Moelis & Company (L) 1,909 65,192
Morgan Stanley 571,263 19,748,562
Nomura Holdings, Inc. 874,613 5,203,374
Northern Trust Corp. 82,754 5,629,755
Oppenheimer Holdings, Inc., Class A 2,487 50,362
Partners Group Holding AG 4,198 1,103,377
Piper Jaffray Companies (I) 3,878 202,587
Pzena Investment Management, Inc., Class A 3,924 37,474
Raymond James Financial, Inc. 63,043 3,377,844
RCS Capital Corp., Class A (I) 2,270 51,120
Safeguard Scientifics, Inc. (I) 5,092 93,693
SBI Holdings, Inc. 48,690 545,743
Schroders PLC 30,092 1,161,884
SEI Investments Company 65,611 2,372,494
State Street Corp. 158,016 11,631,558
Stifel Financial Corp. (I) 15,635 733,125
SWS Group, Inc. (I) (L) 8,125 55,981
T. Rowe Price Group, Inc. 98,186 7,697,782
The Bank of New York Mellon Corp. 422,196 16,351,651
The Charles Schwab Corp. 427,934 12,576,980
The Goldman Sachs Group, Inc. 152,855 28,059,592
UBS AG (I) 882,457 15,339,588
Virtus Investment Partners, Inc. 1,708 296,680
Waddell & Reed Financial, Inc., Class A 42,350 2,189,072
Walter Investment Management Corp. (I) (L) 9,083 199,372
Westwood Holdings Group, Inc. 1,895 107,428
WisdomTree Investments, Inc. (I) (L) 26,125 297,303
228,614,034
Consumer finance - 0.6%
Acom Company, Ltd. (I) 97,010 324,525
AEON Credit Service Company, Ltd. 27,153 581,062
American Express Company 335,760 29,392,430
Capital One Financial Corp. 209,455 17,095,717
Cash America International, Inc. 6,792 297,490
Consumer Portfolio Services, Inc. (I) 5,399 34,608
Credit Acceptance Corp. (I) 1,653 208,394
Credit Saison Company, Ltd. 36,703 707,253
Discover Financial Services 172,363 11,098,454
Encore Capital Group, Inc. (I) (L) 6,210 275,165
Ezcorp, Inc., Class A (I) 12,346 122,349
First Cash Financial Services, Inc. (I) 7,072 395,891
Green Dot Corp., Class A (I) 7,634 161,383
JG Wentworth, Inc. (I) 3,079 38,149
Navient Corp. 155,578 2,755,286
Nelnet, Inc., Class A 5,017 216,183
Portfolio Recovery Associates, Inc. (I) 12,063 630,050
Regional Management Corp. (I) 2,852 51,193
SLM Corp. 212,061 1,815,242
Springleaf Holdings, Inc. (I) 5,863 187,206
World Acceptance Corp. (I) (L) 1,898 128,115
66,516,145
Diversified financial services - 1.5%
ASX, Ltd. 46,928 1,471,787
Berkshire Hathaway, Inc., Class B (I) 680,112 93,950,672
CBOE Holdings, Inc. 42,725 2,286,856
CME Group, Inc. 117,876 9,424,776
Deutsche Boerse AG 46,744 3,138,891
Eurazeo 9,321 670,298
Exor SpA 23,894 923,711
First Pacific Company, Ltd. 573,340 591,020
Gain Capital Holdings, Inc. 5,960 37,965
Groupe Bruxelles Lambert SA 19,542 1,790,015
Hong Kong Exchanges & Clearing, Ltd. 268,871 5,794,035
Industrivarden AB, C Shares 38,155 664,228
Intercontinental Exchange Group, Inc. 42,331 8,256,662
Investment AB Kinnevik, B Shares 57,008 2,055,738
Investor AB, B Shares 110,273 3,882,673
Japan Exchange Group, Inc. 63,172 1,499,474
Leucadia National Corp. 119,391   2,846,281
London Stock Exchange Group PLC 42,646 1,286,943
MarketAxess Holdings, Inc. 9,074   561,318
Marlin Business Services Corp. 2,454 44,957
McGraw-Hill Financial, Inc. 101,088 8,536,882

The accompanying notes are an integral part of the financial statements. 231


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Diversified financial services (continued)
Mitsubishi UFJ Lease &
       Finance Company, Ltd. 116,370 $ 608,596
Moody’s Corp. 69,358 6,554,331
MSCI, Inc. (I) 58,432 2,747,473
NewStar Financial, Inc. (I) 6,645 74,690
ORIX Corp. 319,847 4,415,630
Pargesa Holding SA 7,700 612,008
PHH Corp. (I) 13,833 309,306
PICO Holdings, Inc. (I) 6,136 122,413
Pohjola Bank PLC, A Shares 176 3,519
Singapore Exchange, Ltd. 192,648 1,090,723
The NASDAQ OMX Group, Inc. 44,706 1,896,429
Wendel SA 7,634 865,147
169,015,447
Insurance - 3.5%
ACE, Ltd. 125,271 13,137,170
Admiral Group PLC 46,785   970,258
Aegon NV 438,771   3,612,931
Aflac, Inc. 168,943 9,840,930
Ageas 53,764 1,782,500
AIA Group, Ltd. 2,917,935 15,058,711
Alleghany Corp. (I) 8,209 3,432,593
Allianz SE 110,599 17,854,198
Ambac Financial Group, Inc. (I) 10,972 242,481
American Equity Investment Life
       Holding Company 18,050 412,984
American Financial Group, Inc. 37,574 2,175,159
American International Group, Inc. 532,239 28,751,551
AMERISAFE, Inc. 4,770 186,555
AMP, Ltd. 716,748 3,418,700
AmTrust Financial Services, Inc. (L) 7,284 290,049
Aon PLC 108,382 9,501,850
Argo Group International Holdings, Ltd. 6,271 315,494
Arthur J. Gallagher & Company 79,723 3,616,235
Aspen Insurance Holdings, Ltd. 32,823 1,403,840
Assicurazioni Generali SpA 281,377 5,899,657
Assurant, Inc. 26,287 1,690,254
Atlas Financial Holdings, Inc. (I) 3,727 51,582
Aviva PLC 710,139 6,007,828
AXA SA 440,713 10,855,886
Baloise Holding AG 11,496 1,469,550
Brown & Brown, Inc. 59,430 1,910,675
Cincinnati Financial Corp. 55,446 2,608,734
Citizens, Inc. (I) (L) 12,332 79,665
CNO Financial Group, Inc. 52,300 887,008
CNP Assurances 41,658 784,141
Crawford & Company, Class B 6,734 55,556
Delta Lloyd NV 50,805 1,224,164
Direct Line Insurance Group PLC 363,000 1,727,658
eHealth, Inc. (I) 4,455 107,499
Employers Holdings, Inc. 7,919 152,441
Enstar Group, Ltd. (I) 2,025 276,048
Everest Re Group, Ltd. 22,799 3,693,666
FBL Financial Group, Inc., Class A 2,757 123,238
Federated National Holding Company 3,573 100,366
Fidelity & Guaranty Life 2,840 60,634
First American Financial Corp. 79,376 2,152,677
Friends Life Group, Ltd. 343,517 1,710,719
Genworth Financial, Inc., Class A (I) 186,880 2,448,128
Gjensidige Forsikring ASA 48,362 1,022,556
Global Indemnity PLC (I) 2,591 65,371
Greenlight Capital Re, Ltd., Class A (I) 6,994 226,676
Hannover Rueckversicherung AG 14,601 1,178,440
HCC Insurance Holdings, Inc. 50,137 2,421,116
HCI Group, Inc. 2,230 80,258
Hilltop Holdings, Inc. (I) 16,558 331,988
Horace Mann Educators Corp. 9,860 281,109
Infinity Property & Casualty Corp. 2,932 187,677
Insurance Australia Group, Ltd. 567,577 3,041,848
Kemper Corp. 36,404 1,243,197
Legal & General Group PLC 1,425,343 5,274,226
Lincoln National Corp. 97,423 5,219,924
Loews Corp. 113,479 4,727,535
Maiden Holdings, Ltd. 12,609 139,708
Mapfre SA 225,792 798,026
Marsh & McLennan Companies, Inc. 203,117 10,631,144
Meadowbrook Insurance Group, Inc. 13,589 79,496
Mercury General Corp. 18,193 888,000
MetLife, Inc. 419,518 22,536,507
Montpelier Re Holdings, Ltd. 9,314 289,572
MS&AD Insurance Group Holdings 122,751 2,677,459
Muenchener Rueckversicherungs AG 42,099 8,304,763
National General Holdings Corp. 8,539 144,224
National Interstate Corp. 2,155 60,125
National Western Life Insurance
       Company, Class A 621 153,393
Old Mutual PLC 1,186,511 3,480,346
Old Republic International Corp. 121,628 1,736,848
OneBeacon Insurance Group, Ltd., Class A 5,765 88,839
Platinum Underwriters Holdings, Ltd. 6,252 380,559
Primerica, Inc. 40,436 1,949,824
Principal Financial Group, Inc. 101,899 5,346,641
Protective Life Corp. 39,542 2,744,610
Prudential Financial, Inc. 171,619 15,092,175
Prudential PLC 621,725 13,821,779
QBE Insurance Group, Ltd. 302,577 3,081,381
Reinsurance Group of America, Inc. 34,377 2,754,629
RenaissanceRe Holdings, Ltd. 20,317 2,031,497
RLI Corp. 10,567 457,445
RSA Insurance Group PLC (I) 245,280 1,923,052
Safety Insurance Group, Inc. 3,316 178,766
Sampo OYJ, Class A 107,560 5,200,678
SCOR SE 37,163 1,160,705
Selective Insurance Group, Inc. 13,464 298,093
Sompo Japan Nipponkoa Holdings, Inc. 80,491 1,952,596
Sony Financial Holdings, Inc. 41,916 677,985
StanCorp Financial Group, Inc. 21,930 1,385,537
Standard Life PLC 575,703 3,852,101
State Auto Financial Corp. 3,781 77,548
Stewart Information Services Corp. 5,293 155,350
Suncorp Group, Ltd. 311,774 3,832,130
Swiss Life Holding AG (I) 7,763 1,849,876
Swiss Re AG (I) 85,306 6,788,847
Symetra Financial Corp. 18,304 427,032
T&D Holdings, Inc. 140,325 1,803,155
The Allstate Corp. 161,719 9,924,695
The Chubb Corp. 89,787 8,177,800
The Dai-ichi Life Insurance Company, Ltd. 259,637 3,856,824
The Hanover Insurance Group, Inc. 22,090 1,356,768
The Hartford Financial Services Group, Inc. 167,057 6,222,873
The Navigators Group, Inc. (I) 2,622 161,253
The Phoenix Companies, Inc. (I) 1,480 82,969
The Progressive Corp. 200,912 5,079,055
The Travelers Companies, Inc. 126,548 11,887,919
Third Point Reinsurance, Ltd. (I) 13,549 197,138
Tokio Marine Holdings, Inc. 166,685 5,171,831

The accompanying notes are an integral part of the financial statements. 232


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Insurance (continued)
Torchmark Corp. 48,439 $ 2,536,750
Tryg A/S 4,748 492,581
UnipolSai SpA 218,049 613,813
United Fire Group, Inc. 5,369 149,097
United Insurance Holdings Corp. 4,648 69,720
Universal Insurance Holdings, Inc. 7,596 98,216
Unum Group 95,144 3,271,051
Vienna Insurance Group AG 9,302 419,021
W.R. Berkley Corp. 51,154 2,445,161
XL Group PLC 99,251 3,292,156
Zurich Insurance Group AG (I) 36,191 10,770,540
394,893,556
Real estate investment trusts - 2.6%
Acadia Realty Trust 13,980 385,568
AG Mortgage Investment Trust, Inc. 7,031 125,152
Agree Realty Corp. 4,453 121,923
Alexander’s, Inc. 508 189,946
Alexandria Real Estate Equities, Inc. 35,973 2,653,009
Altisource Residential Corp., Class B 13,891 333,384
American Assets Trust, Inc. 8,889 293,070
American Campus Communities, Inc. 52,611 1,917,671
American Capital Mortgage Investment Corp. 12,656   238,186
American Realty Capital Healthcare Trust, Inc. 41,183 431,598
American Residential Properties, Inc. (I) 8,345   153,047
American Tower Corp. 147,864 13,844,506
AmREIT, Inc. 5,156 118,433
Anworth Mortgage Asset Corp. 30,672 146,919
Apartment Investment & Management
       Company, Class A 53,725 1,709,530
Apollo Commercial Real Estate Finance, Inc. 11,338 178,120
Apollo Residential Mortgage, Inc. 7,917 122,159
Ares Commercial Real Estate Corp. 7,920 92,585
Armada Hoffler Properties, Inc. 8,166 74,147
ARMOUR Residential REIT, Inc. 84,547 325,506
Ascendas Real Estate Investment Trust 493,431 870,385
Ashford Hospitality Prime, Inc. 6,841 104,188
Ashford Hospitality Trust, Inc. 16,987 173,607
Associated Estates Realty Corp. 13,804 241,708
AvalonBay Communities, Inc. 48,990 6,906,120
Aviv REIT, Inc. 5,046 132,962
Beni Stabili SpA 44 31
BGP Holdings PLC (I) 1,525,695 2
BioMed Realty Trust, Inc. 97,842 1,976,408
Boston Properties, Inc. 57,122 6,612,443
British Land Company PLC 234,369 2,663,223
Camden Property Trust 42,904 2,940,211
Campus Crest Communities, Inc. 16,375 104,800
CapitaCommercial Trust 488,096 609,906
CapitaMall Trust 585,181 875,759
Capstead Mortgage Corp. 22,130 270,871
CaretTust REIIT, Inc. (I) 5,376 76,877
Cedar Realty Trust, Inc. 20,983 123,800
CFS Retail Property Trust Group 511,480 892,959
Chambers Street Properties 58,280 438,848
Chatham Lodging Trust 6,666 153,851
Chesapeake Lodging Trust 12,202 355,688
Colony Financial, Inc. 25,600 572,928
CoreSite Realty Corp. 5,116 168,163
Corio NV 16,973 831,901
Corporate Office Properties Trust 43,966 1,130,806
Corrections Corp. of America 58,374 2,005,731
Cousins Properties, Inc. 52,624 628,857
Crown Castle International Corp. 124,571 10,031,703
CubeSmart 34,667 623,313
CyrusOne, Inc. 7,911 190,180
CYS Investments, Inc. 38,836 320,009
DCT Industrial Trust, Inc. 76,938 577,804
Dexus Property Group 1,282,909 1,245,625
DiamondRock Hospitality Company 46,868 594,286
Duke Realty Corp. 171,066 2,938,914
DuPont Fabros Technology, Inc. 15,139 409,359
Dynex Capital, Inc. 13,543 109,427
EastGroup Properties, Inc. 7,475 452,910
Education Realty Trust, Inc. 33,096 340,227
Empire State Realty Trust, Inc., Class A 22,283 334,691
EPR Properties 12,435 630,206
Equity One, Inc. 53,186 1,150,413
Equity Residential 135,052 8,316,502
Essex Property Trust, Inc. 23,549 4,209,384
Excel Trust, Inc. 15,503 182,470
Extra Space Storage, Inc. 55,260 2,849,758
Federal Realty Investment Trust 33,952 4,021,954
Federation Centres, Ltd. 345,283 778,962
FelCor Lodging Trust, Inc. 30,014 280,931
First Industrial Realty Trust, Inc. 26,665 450,905
First Potomac Realty Trust 14,955 175,721
Fonciere Des Regions 6,861 617,975
Franklin Street Properties Corp. 22,625 253,853
Gecina SA 7,015 919,859
General Growth Properties, Inc. 234,192 5,515,222
Getty Realty Corp. 6,990 118,830
Gladstone Commercial Corp. 6,913 117,452
Glimcher Realty Trust 35,094 475,173
Goodman Group 418,372 1,890,724
Government Properties Income Trust 16,162 354,109
Gramercy Property Trust, Inc. 29,026 167,190
Hammerson PLC 172,299 1,599,533
Hannon Armstrong Sustainable
       Infrastructure Capital, Inc. 5,376 74,296
Hatteras Financial Corp. 22,707 407,818
HCP, Inc. 171,065 6,792,991
Health Care REIT, Inc. 121,018 7,547,893
Healthcare Realty Trust, Inc. 22,810 540,141
Hersha Hospitality Trust 48,665 309,996
Highwoods Properties, Inc. 66,395 2,582,766
Home Properties, Inc. 28,646 1,668,343
Hospitality Properties Trust 75,107 2,016,623
Host Hotels & Resorts, Inc. 282,187 6,019,049
Hudson Pacific Properties, Inc. 13,520 333,403
ICADE 8,960 756,587
Inland Real Estate Corp. 20,841 206,534
Intu Properties PLC 213,880 1,114,273
Invesco Mortgage Capital, Inc. 29,306 460,690
Investors Real Estate Trust 27,484 211,627
Iron Mountain, Inc. 64,841 2,117,059
iStar Financial, Inc. (I) 20,304 274,104
Japan Prime Realty Investment Corp. 191 688,016
Japan Real Estate Investment Corp. 303 1,558,421
Japan Retail Fund Investment Corp. 558 1,124,760
Keppel REIT 21,160 19,742
Kilroy Realty Corp. 41,708 2,479,124
Kimco Realty Corp. 154,602 3,387,330
Kite Realty Group Trust 7,788 188,781
Klepierre 24,085 1,053,525
Land Securities Group PLC 192,660 3,234,813
LaSalle Hotel Properties 76,986 2,636,001

The accompanying notes are an integral part of the financial statements. 233


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Real estate investment trusts (continued)
Lexington Realty Trust 49,036 $ 480,062
Liberty Property Trust 74,262 2,469,954
LTC Properties, Inc. 8,578 316,442
Mack-Cali Realty Corp. 62,851 1,201,083
Medical Properties Trust, Inc. 41,104 503,935
Mid-America Apartment Communities, Inc. 37,704 2,475,268
Mirvac Group 893,746 1,344,429
Monmouth Real Estate
       Investment Corp., Class A 14,689 148,653
National Health Investments, Inc. 7,959 454,777
National Retail Properties, Inc. 62,711 2,167,919
New Residential Investment Corp. 67,168 391,589
New York Mortgage Trust, Inc. 22,651 163,767
New York REIT, Inc. 39,527 406,338
Nippon Building Fund, Inc. 347 1,827,204
Nippon Prologis REIT, Inc. (I) 320 743,972
Omega Healthcare Investors, Inc. 63,797 2,181,219
One Liberty Properties, Inc. 4,072   82,377
Owens Realty Mortgage, Inc. 3,560 50,730
Parkway Properties, Inc. 17,334 325,533
Pebblebrook Hotel Trust 15,475 577,837
Pennsylvania Real Estate Investment Trust 16,661   332,220
PennyMac Mortgage Investment Trust 17,735 380,061
Physicians Realty Trust 8,329 114,274
Plum Creek Timber Company, Inc. 66,714 2,602,513
Potlatch Corp. 30,183 1,213,658
Prologis, Inc. 186,428 7,028,336
PS Business Parks, Inc. 4,693 357,325
Public Storage 54,138 8,978,246
QTS Realty Trust, Inc., Class A 2,904 88,136
RAIT Financial Trust 19,703 146,393
Ramco-Gershenson Properties Trust 18,177 295,376
Rayonier, Inc. 63,453 1,975,926
Realty Income Corp. 111,624 4,553,143
Redwood Trust, Inc. 20,050 332,429
Regency Centers Corp. 46,309 2,492,813
Resource Capital Corp. 31,252 152,197
Retail Opportunity Investments Corp. 21,792 320,342
Rexford Industrial Realty, Inc. 11,625 160,890
RLJ Lodging Trust 31,046 883,880
Rouse Properties, Inc. 9,085 146,904
Ryman Hospitality Properties 10,313 487,805
Sabra Health Care REIT, Inc. 11,382 276,810
Saul Centers, Inc. 2,417 112,971
Scentre Group (I) 1,290,424 3,712,815
Segro PLC 179,440 1,053,172
Select Income REIT 8,654 208,129
Senior Housing Properties Trust 102,168 2,137,355
Silver Bay Realty Trust Corp. 9,683 156,961
Simon Property Group, Inc. 115,954 19,065,157
SL Green Realty Corp. 47,934 4,856,673
Sovran Self Storage, Inc. 7,809 580,677
STAG Industrial, Inc. 11,809 244,564
Starwood Waypoint Residential Trust 9,384 244,078
Stockland 563,459 1,946,643
Strategic Hotels & Resorts, Inc. (I) 59,568 693,967
Summit Hotel Properties, Inc. 20,955 225,895
Sun Communities, Inc. 9,892 499,546
Sunstone Hotel Investors, Inc. 49,260 680,773
Taubman Centers, Inc. 31,748 2,317,604
Terreno Realty Corp. 8,006 150,753
The Geo Group, Inc. 17,346 662,964
The GPT Group 409,053 1,385,280
The Link REIT 559,404 3,231,721
The Macerich Company 51,964 3,316,862
UDR, Inc. 126,200 3,438,950
Unibail-Rodamco SE 23,672 6,087,434
United Urban Investment Corp. 604 927,038
Universal Health Realty Income Trust 3,095 129,000
Urstadt Biddle Properties, Inc., Class A 6,177 125,393
Ventas, Inc. 109,878 6,806,942
Vornado Realty Trust 65,040 6,501,398
Washington Prime Group, Inc. 77,801 1,359,961
Washington Real Estate Investment Trust 15,984 405,674
Weingarten Realty Investors 56,390 1,776,285
Western Asset Mortgage Capital Corp. 10,099 149,263
Westfield Corp. (I) 478,155 3,115,686
Weyerhaeuser Company 197,011 6,276,770
Whitestone REIT 7,442 103,741
294,688,632
Real estate management and development - 0.6%
Aeon Mall Company, Ltd. 27,331 522,110
Alexander & Baldwin, Inc. 34,494 1,240,749
Altisource Asset Management Corp. (I) (L) 341 230,178
Altisource Portfolio Solutions SA (I) (L) 3,519 354,715
AV Homes, Inc. (I) 2,953 43,261
CapitaLand, Ltd. 607,684 1,522,403
CBRE Group, Inc., Class A (I) 105,044 3,124,009
Cheung Kong Holdings, Ltd. 335,516 5,514,897
City Developments, Ltd. 98,813 744,364
Consolidated-Tomoka Land Company 1,170 57,412
Daito Trust Construction Company, Ltd. 17,560 2,076,516
Daiwa House Industry Company, Ltd. 143,906 2,585,259
Deutsche Wohnen AG 69,197 1,473,764
Forestar Group, Inc. (I) 8,625 152,835
Global Logistic Properties, Ltd. 748,286 1,588,317
Hang Lung Properties, Ltd. 542,313 1,537,980
Henderson Land Development Company, Ltd. 251,510 1,628,233
Hulic Company, Ltd. 58,769 622,466
Hysan Development Company, Ltd. 154,279 711,840
Immoeast AG (I) 70,405 0
IMMOFINANZ AG (I) 231,833 655,897
Jones Lang LaSalle, Inc. 22,468 2,838,607
Kennedy-Wilson Holdings, Inc. 17,436 417,767
Keppel Land, Ltd. 168,229 461,234
Kerry Properties, Ltd. 146,055 487,771
Lend Lease Corp. 132,623 1,665,190
Mitsubishi Estate Company, Ltd. 301,124 6,786,521
Mitsui Fudosan Company, Ltd. 225,826 6,930,242
New World Development Company, Ltd. 1,248,569 1,454,511
Nomura Real Estate Holdings, Inc. 30,163 518,732
NTT Urban Development Corp. 28,100 295,439
RE/MAX Holdings, Inc., Class A 2,819 83,809
Sino Land Company, Ltd. 723,722 1,121,180
Sumitomo Realty &
       Development Company, Ltd. 86,483 3,081,175
Sun Hung Kai Properties, Ltd. 397,977 5,646,950
Swire Pacific, Ltd., Class A 153,377 1,978,278
Swire Properties, Ltd. 283,291 884,486
Swiss Prime Site AG (I) 14,101 1,046,225
Tejon Ranch Company (I) 3,350 93,934
The St. Joe Company (I) (L) 15,200 302,936
The Wharf Holdings, Ltd. 366,963 2,608,795
Tokyo Tatemono Company, Ltd. 99,580 806,884
Tokyu Fudosan Holdings Corp. 117,581 807,273
UOL Group, Ltd. 112,945 584,622

The accompanying notes are an integral part of the financial statements. 234


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Real estate management and development (continued)
Wheelock and Company, Ltd. 221,456 $ 1,057,788
68,347,554
Thrifts and mortgage finance - 0.1%
Astoria Financial Corp. 64,747 802,215
Bank Mutual Corp. 13,041 83,593
BankFinancial Corp. 6,162 63,962
Beneficial Mutual Bancorp, Inc. (I) 7,774 99,352
Berkshire Hills Bancorp, Inc. 6,584 154,658
BofI Holding, Inc. (I) 3,459   251,504
Brookline Bancorp, Inc. 19,763 168,974
Capitol Federal Financial, Inc. 34,007 401,963
Clifton Bancorp, Inc. 7,679 96,679
Dime Community Bancshares, Inc. 9,467 136,325
Essent Group, Ltd. (I) 10,019 214,507
EverBank Financial Corp. 21,887 386,524
Federal Agricultural Mortgage Corp., Class C 2,718   87,357
First Defiance Financial Corp. 3,121 84,298
Flagstar Bancorp, Inc. (I) 4,935 83,056
Home Loan Servicing Solutions, Ltd. 17,163 363,684
HomeStreet, Inc. 4,528 77,384
Hudson City Bancorp, Inc. 181,487 1,764,054
Ladder Capital Corp., Class A (I) 3,815 72,104
Meridian Bancorp, Inc. (I) 5,515 58,238
Meta Financial Group, Inc. 2,060 72,636
MGIC Investment Corp. (I) 81,605 637,335
New York Community Bancorp, Inc. (L) 221,935 3,522,108
NMI Holdings, Inc., Class A (I) (L) 13,168 113,903
Northfield Bancorp, Inc. 14,432 196,564
Northwest Bancshares, Inc. 23,343 282,450
OceanFirst Financial Corp. 3,469 55,192
Oritani Financial Corp. 12,524 176,463
PennyMac Financial Services, Inc. (I) 3,400 49,810
People’s United Financial, Inc. 114,009 1,649,710
Provident Financial Services, Inc. 14,662 240,017
Radian Group, Inc. 46,014 656,160
Stonegate Mortgage Corp. (I) (L) 3,690 47,933
Tree.com, Inc. (I) 1,698 60,941
TrustCo Bank Corp. 24,932 160,562
United Community Financial Corp. 14,401 67,397
United Financial Bancorp, Inc. 13,843 175,668
Walker & Dunlop, Inc. (I) 4,439 58,994
Washington Federal, Inc. 73,962 1,505,866
Waterstone Financial, Inc. 8,462 97,736
WSFS Financial Corp. 2,208 158,115
15,435,991
2,130,473,467
Health care - 12.4%
Biotechnology - 2.0%
ACADIA Pharmaceuticals, Inc. (I) (L) 19,054 471,777
Acceleron Pharma, Inc. (I) (L) 4,096 123,863
Achillion Pharmaceuticals, Inc. (I) (L) 23,517 234,700
Acorda Therapeutics, Inc. (I) 10,114 342,662
Actelion, Ltd. (I) 24,758 2,899,804
Actinium Pharmaceuticals, Inc. (I) (L) 5,325 35,678
Aegerion Pharmaceuticals, Inc. (I) 7,172 239,401
Agenus, Inc. (I) 16,266 50,587
Agios Pharmaceuticals, Inc. (I) (L) 3,298 202,332
Akebia Therapeutics, Inc. (I) (L) 1,840 40,719
Alder Biopharmaceuticals, Inc. (I) 1,973 25,018
Alexion Pharmaceuticals, Inc. (I) 73,791 12,236,024
AMAG Pharmaceuticals, Inc. (I) (L) 5,500 175,505
Amgen, Inc. 283,352 39,799,622
Anacor Pharmaceuticals, Inc. (I) (L) 7,895 193,191
Applied Genetic Technologies Corp. (I) 1,414 26,315
Arena Pharmaceuticals, Inc. (I) (L) 53,247 223,105
ARIAD Pharmaceuticals, Inc. (I) (L) 40,181 216,977
Array BioPharma, Inc. (I) 31,280 111,670
Arrowhead Research Corp. (I) (L) 12,629 186,530
Auspex Pharmaceuticals, Inc. (I) 2,359 60,556
BioCryst Pharmaceuticals, Inc. (I) (L) 17,001 166,270
Biogen Idec, Inc. (I) 88,092 29,141,715
BioTime, Inc. (I) (L) 14,495 45,514
Bluebird Bio, Inc. (I) 5,272 189,159
Cara Therapeutics, Inc. (I) 1,456 12,216
Celgene Corp. (I) 298,234 28,266,619
Celldex Therapeutics, Inc. (I) (L) 21,652 280,610
Cepheid, Inc. (I) 16,875 743,006
ChemoCentryx, Inc. (I) (L) 6,781 30,515
Chimerix, Inc. (I) 6,452 178,204
Clovis Oncology, Inc. (I) (L) 5,986 271,525
CSL, Ltd. 115,895 7,512,984
CTI BioPharma Corp. (I) (L) 31,948 77,314
Cubist Pharmaceuticals, Inc. (I) 37,973 2,519,129
Cytokinetics, Inc. (I) 8,634 30,392
Cytori Therapeutics, Inc. (I) (L) 16,976 11,476
CytRx Corp. (I) (L) 14,089 35,786
Dendreon Corp. (I) (L) 40,836 58,804
Durata Therapeutics, Inc. (I) (L) 3,707 47,005
Dyax Corp. (I) 32,868 332,624
Dynavax Technologies Corp. (I) 62,494 89,366
Emergent Biosolutions, Inc. (I) 7,020 149,596
Enanta Pharmaceuticals, Inc. (I) (L) 2,573 101,814
Epizyme, Inc. (I) (L) 3,137 85,044
Exact Sciences Corp. (I) (L) 20,059 388,743
Exelixis, Inc. (I) (L) 46,331 70,886
Five Prime Therapeutics, Inc. (I) 4,085 47,917
Foundation Medicine, Inc. (I) (L) 3,296 62,492
Galectin Therapeutics, Inc. (I) (L) 4,320 21,730
Galena Biopharma, Inc. (I) (L) 27,799 57,266
Genocea Biosciences, Inc. (I) 1,056 9,557
Genomic Health, Inc. (I) (L) 4,122 116,694
Geron Corp. (I) (L) 38,520 77,040
Gilead Sciences, Inc. (I) 563,938 60,031,200
Grifols SA 36,114 1,475,829
Halozyme Therapeutics, Inc. (I) (L) 25,143 228,801
Heron Therapeutics, Inc. (I) 6,605 55,020
Hyperion Therapeutics, Inc. (I) (L) 3,403 85,824
Idera Pharmaceuticals, Inc. (I) 14,230 32,587
ImmunoGen, Inc. (I) (L) 20,648 218,662
Immunomedics, Inc. (I) (L) 22,283 82,893
Infinity Pharmaceuticals, Inc. (I) 11,621 155,954
Inovio Pharmaceuticals, Inc. (I) (L) 14,328 141,131
Insmed, Inc. (I) 12,065 157,448
Insys Therapeutics, Inc. (I) (L) 2,427 94,119
Intrexon Corp. (I) (L) 8,651 160,736
Ironwood Pharmaceuticals, Inc. (I) 29,010 375,825
Isis Pharmaceuticals, Inc. (I) (L) 28,356 1,101,063
Karyopharm Therapeutics, Inc. (I) (L) 3,314 115,791
Keryx Biopharmaceuticals, Inc. (I) (L) 22,179 304,961
Kindred Biosciences, Inc. (I) 2,477 22,912
Kythera Biopharmaceuticals, Inc. (I) (L) 4,332 141,916
Lexicon Pharmaceuticals, Inc. (I) (L) 56,481 79,638
Ligand Pharmaceuticals, Inc. (I) 5,000 234,950
MacroGenics, Inc. (I) 4,970 103,873

The accompanying notes are an integral part of the financial statements. 235


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Biotechnology (continued)
MannKind Corp. (I) (L) 55,062 $ 325,416
Merrimack Pharmaceuticals, Inc. (I) (L) 23,966 210,421
MiMedx Group, Inc. (I) (L) 22,826 162,749
Mirati Therapeutics, Inc. (I) 1,775 31,080
Momenta Pharmaceuticals, Inc. (I) 11,631 131,896
Nanoviricides, Inc. (I) (L) 10,049 30,147
Navidea Biopharmaceuticals, Inc. (I) (L) 39,732 52,446
Neostem, Inc. (I) (L) 6,800 37,604
Neuralstem, Inc. (I) (L) 17,433 57,180
Neurocrine Biosciences, Inc. (I) 18,349 287,529
NewLink Genetics Corp. (I) (L) 4,845 103,780
Northwest Biotherapeutics, Inc. (I) (L) 8,299 41,744
Novavax, Inc. (I) (L) 57,710 240,651
NPS Pharmaceuticals, Inc. (I) 25,635 666,510
Ohr Pharmaceutical, Inc. (I) (L) 5,662 41,050
OncoMed Pharmaceuticals, Inc. (I) (L) 3,162 59,857
Oncothyreon, Inc. (I) 17,290   33,197
Ophthotech Corp. (I) (L) 3,303   128,586
OPKO Health, Inc. (I) (L) 47,616 405,212
Orexigen Therapeutics, Inc. (I) (L) 29,939 127,540
Organovo Holdings, Inc. (I) (L) 15,399 98,092
Osiris Therapeutics, Inc. (I) (L) 4,493 56,567
OvaScience, Inc. (I) (L) 4,006 66,500
PDL BioPharma, Inc. (L) 38,626 288,536
Peregrine Pharmaceuticals, Inc. (I) (L) 41,914 57,003
Portola Pharmaceuticals, Inc. (I) 8,968 226,711
Progenics Pharmaceuticals, Inc. (I) (L) 16,543 85,858
Prothena Corp. PLC (I) 6,526 144,616
PTC Therapeutics, Inc. (I) 5,394 237,390
Puma Biotechnology, Inc. (I) 5,594 1,334,561
Raptor Pharmaceutical Corp. (I) (L) 15,326 146,976
Receptos, Inc. (I) 4,482 278,377
Regeneron Pharmaceuticals, Inc. (I) 27,521 9,921,871
Repligen Corp. (I) 7,718 153,665
Retrophin, Inc. (I) (L) 5,011 45,199
Rigel Pharmaceuticals, Inc. (I) 22,116 42,905
Sangamo BioSciences, Inc. (I) (L) 16,529 178,265
Sarepta Therapeutics, Inc. (I) (L) 9,901 208,911
Spectrum Pharmaceuticals, Inc. (I) (L) 16,195 131,827
Stemline Therapeutics, Inc. (I) (L) 3,174 39,548
Sunesis Pharmaceuticals, Inc. (I) (L) 11,740 83,824
Synageva BioPharma Corp. (I) (L) 5,185 356,624
Synergy Pharmaceuticals, Inc. (I) (L) 22,358 62,267
Synta Pharmaceuticals Corp. (I) 16,928 50,953
TESARO, Inc. (I) 4,762 128,193
TG Therapeutics, Inc. (I) (L) 6,039 64,436
Threshold Pharmaceuticals, Inc. (I) (L) 12,433 44,883
Ultragenyx Pharmaceutical, Inc. (I) 1,728 97,805
United Therapeutics Corp. (I) 23,701 3,049,134
Vanda Pharmaceuticals, Inc. (I) 8,348 86,652
Verastem, Inc. (I) (L) 5,782 49,263
Versartis, Inc. (I) (L) 1,652 31,371
Vertex Pharmaceuticals, Inc. (I) 89,015 9,997,275
Vital Therapies, Inc. (I) (L) 1,307 26,676
Xencor, Inc. (I) 3,790 35,285
XOMA Corp. (I) (L) 20,866 87,846
ZIOPHARM Oncology, Inc. (I) (L) 19,167 50,601
225,747,242
Health care equipment and supplies - 1.7%
Abaxis, Inc. 5,465 277,130
Abbott Laboratories 560,902 23,327,914
ABIOMED, Inc. (I) (L) 9,709 241,074
Accuray, Inc. (I) (L) 19,228 139,595
Align Technology, Inc. (I) 36,460 1,884,253
Analogic Corp. 3,023 193,351
AngioDynamics, Inc. (I) 5,962 81,799
Anika Therapeutics, Inc. (I) 3,514 128,823
Antares Pharma, Inc. (I) (L) 30,452 55,727
AtriCure, Inc. (I) 7,151 105,263
Atrion Corp. 371 113,159
Baxter International, Inc. 202,035 14,500,052
Becton, Dickinson and Company 71,550 8,143,106
Boston Scientific Corp. (I) 493,028 5,822,661
C.R. Bard, Inc. 27,853 3,974,902
Cantel Medical Corp. 7,915 272,118
Cardiovascular Systems, Inc. (I) 6,797 160,613
CareFusion Corp. (I) 75,713 3,426,013
Cerus Corp. (I) (L) 17,802 71,386
Cochlear, Ltd. 13,844 841,904
Coloplast A/S 26,929 2,252,023
CONMED Corp. 6,589 242,739
Covidien PLC 168,539 14,580,309
CryoLife, Inc. 7,253 71,587
Cyberonics, Inc. (I) 6,549 335,047
Cynosure, Inc., Class A (I) 5,357 112,497
DENTSPLY International, Inc. 53,508 2,439,965
Derma Sciences, Inc. (I) (L) 6,173 51,421
DexCom, Inc. (I) 18,121 724,659
Edwards Lifesciences Corp. (I) 39,758 4,061,280
Elekta AB, B Shares (L) 89,319 877,943
Endologix, Inc. (I) 15,794 167,416
Essilor International SA 49,418 5,419,555
Exactech, Inc. (I) 2,491 57,019
GenMark Diagnostics, Inc. (I) (L) 10,644 95,477
Getinge AB, B Shares 48,505 1,217,834
Globus Medical, Inc., Class A (I) 15,940 313,540
Greatbatch, Inc. (I) 5,982 254,893
Haemonetics Corp. (I) 12,573 439,049
HeartWare International, Inc. (I) 4,176 324,183
Hill-Rom Holdings, Inc. 28,774 1,192,107
Hologic, Inc. (I) 121,167 2,947,993
ICU Medical, Inc. (I) 3,273 210,061
IDEXX Laboratories, Inc. (I) 25,205 2,969,905
Insulet Corp. (I) 13,462 496,075
Integra LifeSciences Holdings Corp. (I) 6,095 302,556
Intuitive Surgical, Inc. (I) 13,411 6,193,468
Invacare Corp. 8,134 96,063
LDR Holding Corp. (I) (L) 4,008 124,769
Masimo Corp. (I) 11,835 251,849
Medtronic, Inc. 365,384 22,635,539
Meridian Bioscience, Inc. (L) 10,261 181,517
Merit Medical Systems, Inc. (I) 10,519 124,966
Natus Medical, Inc. (I) 7,836 231,240
Neogen Corp. (I) 8,899 351,511
NuVasive, Inc. (I) 11,313 394,484
NxStage Medical, Inc. (I) 15,132 198,683
Olympus Corp. (I) 58,102 2,083,580
OraSure Technologies, Inc. (I) 13,814 99,737
Orthofix International NV (I) 4,578 141,735
Oxford Immunotec Global PLC (I) (L) 3,754 57,324
Quidel Corp. (I) 7,007 188,278
ResMed, Inc. (L) 70,281 3,462,745
Rockwell Medical Technologies, Inc. (I) 10,297 94,115
RTI Surgical, Inc. (I) 15,423 73,722
Sirona Dental Systems, Inc. (I) 27,751 2,127,947
Smith & Nephew PLC 216,500 3,641,885

The accompanying notes are an integral part of the financial statements. 236


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Health care equipment and supplies (continued)
Sonova Holding AG 13,018 $ 2,074,184
Spectranetics Corp. (I) 10,063 267,374
St. Jude Medical, Inc. 106,095 6,379,492
STAAR Surgical Company (I) 9,204 97,839
STERIS Corp. 43,944 2,371,218
Stryker Corp. 111,479 9,001,929
SurModics, Inc. (I) 3,947 71,678
Symmetry Medical, Inc. (I) 10,039 101,294
Sysmex Corp. 35,179 1,416,622
Teleflex, Inc. 20,755 2,180,105
Terumo Corp. 73,617 1,766,169
The Cooper Companies, Inc. 24,208 3,770,396
Thoratec Corp. (I) 41,995 1,122,526
Tornier NV (I) 8,682 207,500
Transenterix, Inc. (I) 6,832 29,788
Unilife Corp. (I) (L) 25,608 58,770
Varian Medical Systems, Inc. (I) 38,383 3,075,246
Vascular Solutions, Inc. (I) 4,238 104,679
Volcano Corp. (I) 12,789 136,075
West Pharmaceutical Services, Inc. 17,000 760,920
William Demant Holdings A/S (I) 5,684 435,677
Wright Medical Group, Inc. (I) 12,205 369,812
Zeltiq Aesthetics, Inc. (I) 7,144 161,669
Zimmer Holdings, Inc. 63,263 6,361,095
190,995,190
Health care providers and services - 1.7%
Acadia Healthcare Company, Inc. (I) 10,349 501,927
Aetna, Inc. 132,253 10,712,493
Air Methods Corp. (I) (L) 9,464 525,725
Alfresa Holdings Corp. 43,808 630,663
Alliance HealthCare Services, Inc. (I) 1,339 30,275
Almost Family, Inc. (I) 2,333 63,388
Amedisys, Inc. (I) 6,691 134,957
AmerisourceBergen Corp. 79,544 6,148,751
AMN Healthcare Services, Inc. (I) 11,323 177,771
Amsurg Corp. (I) 10,203 510,660
Bio-Reference Labs, Inc. (I) (L) 5,986 167,967
BioScrip, Inc. (I) (L) 16,368 113,103
BioTelemetry, Inc. (I) 6,747 45,272
Capital Senior Living Corp. (I) 7,194 152,729
Cardinal Health, Inc. 125,619 9,411,375
Celesio AG 12,052 400,145
Centene Corp. (I) 29,375 2,429,606
Chemed Corp. (L) 4,180 430,122
Cigna Corp. 98,379 8,921,992
Community Health Systems, Inc. (I) 57,793 3,166,478
Corvel Corp. (I) 2,641 89,926
Cross Country Healthcare, Inc. (I) 7,924 73,614
DaVita HealthCare Partners, Inc. (I) 64,053 4,684,836
ExamWorks Group, Inc. (I) 8,391 274,805
Express Scripts Holding Company (I) 278,033 19,637,471
Five Star Quality Care, Inc. (I) 11,247 42,401
Fresenius Medical Care AG &
       Company KGaA 52,417 3,651,122
Fresenius SE & Company KGaA 91,476 4,516,076
Gentiva Health Services, Inc. (I) 7,735 129,793
Hanger, Inc. (I) 8,589 176,246
Health Net, Inc. (I) 40,265 1,856,619
HealthSouth Corp. 21,020 775,638
Healthways, Inc. (I) 7,481 119,846
Henry Schein, Inc. (I) 42,535 4,954,051
Humana, Inc. 57,536 7,496,365
IPC The Hospitalist Company, Inc. (I) 4,186 187,491
Kindred Healthcare, Inc. 15,601 302,659
Laboratory Corp. of America Holdings (I) 31,951 3,251,014
Landauer, Inc. 2,334 77,045
LHC Group, Inc. (I) 3,022 70,110
LifePoint Hospitals, Inc. (I) 22,633 1,565,977
Magellan Health Services, Inc. (I) 6,653 364,119
McKesson Corp. 86,405 16,820,461
Medipal Holdings Corp. 32,665 397,042
MEDNAX, Inc. (I) 50,261 2,755,308
Miraca Holdings, Inc. 12,717 526,267
Molina Healthcare, Inc. (I) 7,231 305,871
MWI Veterinary Supply, Inc. (I) 3,109 461,376
National Healthcare Corp. 2,372 131,670
Omnicare, Inc. 49,063 3,054,662
Owens & Minor, Inc. (L) 46,675 1,528,140
Patterson Companies, Inc. 32,300 1,338,189
PharMerica Corp. (I) 7,258 177,313
Quest Diagnostics, Inc. 53,378 3,238,977
RadNet, Inc. (I) 7,782 51,517
Ramsay Health Care, Ltd. 31,835 1,395,015
Ryman Healthcare, Ltd. 92,278 562,308
Select Medical Holdings Corp. 19,014 228,738
Skilled Healthcare Group, Inc., Class A (I) 6,527 43,078
Sonic Healthcare, Ltd. 92,310 1,416,472
Surgical Care Affiliates, Inc. (I) 3,069 82,034
Suzuken Company, Ltd. 17,135 493,628
Team Health Holdings, Inc. (I) 16,872 978,407
Tenet Healthcare Corp. (I) 37,017 2,198,440
The Ensign Group, Inc. 4,898 170,450
The Providence Service Corp. (I) 2,796 135,270
Triple-S Management Corp., Class B (I) 6,018 119,758
UnitedHealth Group, Inc. 362,413 31,258,121
Universal American Corp. (I) 10,644 85,578
Universal Health Services, Inc., Class B 34,029 3,556,031
US Physical Therapy, Inc. 2,976 105,321
VCA Antech, Inc. (I) 43,228 1,700,157
WellCare Health Plans, Inc. (I) 32,550 1,964,067
WellPoint, Inc. 102,286 12,235,451
188,487,740
Health care technology - 0.1%
Allscripts Healthcare Solutions, Inc. (I) 84,919 1,139,188
Castlight Health, Inc., B Shares (I) 3,492 45,186
Cerner Corp. (I) 113,251 6,746,362
Computer Programs & Systems, Inc. 2,762 158,787
HealthStream, Inc. (I) 5,226 125,476
HMS Holdings Corp. (I) (L) 65,165 1,228,360
M3, Inc. 47,943 768,828
MedAssets, Inc. (I) 14,809 306,842
Medidata Solutions, Inc. (I) 13,064 578,605
Merge Healthcare, Inc. (I) 17,769 39,092
Omnicell, Inc. (I) 8,846 241,761
Quality Systems, Inc. 12,415 170,955
Vocera Communications, Inc. (I) 5,548 44,772
11,594,214
Life sciences tools and services - 0.4%
Accelerate Diagnostics, Inc. (I) (L) 5,445   116,959
Affymetrix, Inc. (I) (L) 17,911   142,930
Agilent Technologies, Inc. 124,438 7,090,477
Albany Molecular Research, Inc. (I) 5,776 127,476
Bio-Rad Laboratories, Inc., Class A (I) 10,277 1,165,412
Cambrex Corp. (I) 7,442 139,017

The accompanying notes are an integral part of the financial statements. 237


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

Shares or    
Principal    
Amount        Value
COMMON STOCKS (continued)    
Life sciences tools and services (continued)    
Charles River    
       Laboratories International, Inc. (I) 23,405 $ 1,398,215
Covance, Inc. (I) 28,346   2,230,830
Enzo Biochem, Inc. (I) 9,225   47,509
Fluidigm Corp. (I) (L) 6,941   170,055
Lonza Group AG (I) 12,814   1,544,033
Luminex Corp. (I) 9,179   178,991
Mettler-Toledo International, Inc. (I) 14,485   3,710,043
NanoString Technologies, Inc. (I) (L) 2,560   28,006
Pacific Biosciences of California, Inc. (I) 14,507   71,229
PAREXEL International Corp. (I) 13,666   862,188
PerkinElmer, Inc. 41,387   1,804,473
QIAGEN NV (I) 55,402   1,255,131
Sequenom, Inc. (I) (L) 27,680   82,210
Techne Corp. 18,555   1,735,820
Thermo Fisher Scientific, Inc. 148,826   18,112,124
Waters Corp. (I) 31,303   3,102,753
  45,115,881
Pharmaceuticals - 6.5%    
AbbVie, Inc. 593,781   34,296,791
AcelRx Pharmaceuticals, Inc. (I) (L) 5,768   31,666
Actavis PLC (I) 98,585   23,786,589
Aerie Pharmaceuticals, Inc. (I) 2,663   55,097
Akorn, Inc. (I) 15,035   545,319
Alimera Sciences, Inc. (I) 7,237   39,225
Allergan, Inc. 110,873   19,756,460
Ampio Pharmaceuticals, Inc. (I) (L) 9,339   32,967
ANI Pharmaceuticals, Inc. (I) 1,645   46,521
Aratana Therapeutics, Inc. (I) (L) 6,115   61,395
Astellas Pharma, Inc. 519,947   7,743,867
AstraZeneca PLC 305,999   21,928,748
Auxilium Pharmaceuticals, Inc. (I) 12,192   363,931
AVANIR Pharmaceuticals, Inc., Class A (I) 41,421   493,738
Bayer AG 200,182   27,852,982
Bio-Path Holdings, Inc. (I) 17,645   35,466
BioDelivery Sciences International, Inc. (I) 10,202   174,352
Bristol-Myers Squibb Company 618,468   31,653,192
Cempra, Inc. (I) (L) 5,956   65,278
Chelsea Therapeutics International, Ltd. (I) (L) 19,199   1,536
Chugai Pharmaceutical Company, Ltd. 54,234   1,569,842
Corcept Therapeutics, Inc. (I) (L) 14,370   38,512
Daiichi Sankyo Company, Ltd. 154,611   2,429,560
Depomed, Inc. (I) 14,082   213,906
Eisai Company, Ltd. 61,068   2,470,089
Eli Lilly & Company 366,778   23,785,553
Endo International PLC (I) 76,951   5,258,831
Endocyte, Inc. (I) (L) 9,401   57,158
Forest Laboratories, Inc. (I) 4,082   0
Furiex Pharmaceuticals, Inc. (I) 1,660   16,218
GlaxoSmithKline PLC 1,175,538   26,854,146
Hisamitsu Pharmaceutical Company, Inc. 14,284   512,962
Horizon Pharma, Inc. (I) (L) 15,827   194,356
Hospira, Inc. (I) 62,988   3,277,266
Impax Laboratories, Inc. (I) 16,928   401,363
Intra-Cellular Therapies, Inc. (I) 4,232   58,021
Johnson & Johnson 1,052,086   112,141,847
Kyowa Hakko Kirin Company, Ltd. 55,859   687,085
Lannett Company, Inc. (I) 6,209   283,627
Mallinckrodt PLC (I) 42,569   3,837,595
Merck & Company, Inc. 1,076,097   63,791,030
Merck KGaA 31,314   2,878,240
Mitsubishi Tanabe Pharma Corp. 53,934   791,401
Mylan, Inc. (I) 139,483   6,345,082
Nektar Therapeutics (I) 30,804   371,804
Novartis AG 556,855   52,438,125
Novo Nordisk A/S, Class B 485,960   23,137,421
Omeros Corp. (I) (L) 8,306   105,652
Ono Pharmaceutical Company, Ltd. 19,983   1,774,445
Orion OYJ, Class B 24,010   937,487
Otsuka Holdings Company, Ltd. 94,615   3,261,214
Pacira Pharmaceuticals, Inc. (I) 8,610   834,481
Pain Therapeutics, Inc. (I) 11,018   43,080
Pernix Therapeutics Holdings (I) 7,812   59,996
Perrigo Company PLC 49,929   7,498,837
Pfizer, Inc. 2,365,410   69,945,174
Phibro Animal Health Corp. 3,845   86,166
POZEN, Inc. (I) 6,937   50,918
Prestige Brands Holdings, Inc. (I) 12,551   406,276
Relypsa, Inc. (I) 4,062   85,668
Repros Therapeutics, Inc. (I) 5,524   54,688
Revance Therapeutics, Inc. (I) 2,212   42,758
Roche Holding AG 170,092   50,228,665
Sagent Pharmaceuticals, Inc. (I) 5,374   167,131
Salix Pharmaceuticals, Ltd. (I) 31,934   4,989,368
Sanofi 287,182   32,471,844
Santen Pharmaceutical Company, Ltd. 17,998   1,007,905
SciClone Pharmaceuticals, Inc. (I) 13,077   90,101
Shionogi & Company, Ltd. 72,311   1,659,579
Shire PLC 142,793   12,320,405
Sumitomo Dainippon Pharma Company, Ltd. 38,692   493,620
Supernus Pharmaceuticals, Inc. (I) 7,003   60,856
Taisho Pharmaceutical    
       Holdings Company, Ltd. 7,616   521,297
Takeda Pharmaceutical Company, Ltd. 192,016   8,347,392
Tetraphase Pharmaceuticals, Inc. (I) 5,563   110,982
Teva Pharmaceutical Industries, Ltd. 206,336   11,105,037
The Medicines Company (I) 15,764   351,852
TherapeuticsMD, Inc. (I) (L) 26,319   122,120
Theravance Biopharma, Inc. (I) 5,753   132,607
Theravance, Inc. (L) 19,951   340,963
Trius Therapeutics, Inc. (I) (L) 10,492   1,154
UCB SA 30,638   2,776,205
Vivus, Inc. (I) (L) 22,450   86,657
XenoPort, Inc. (I) 14,264   76,740
Zoetis, Inc. 186,928   6,906,990
Zogenix, Inc. (I) (L) 31,096   35,760
  722,398,230
  1,384,338,497
Industrials - 11.1%    
Aerospace and defense - 2.0%    
AAR Corp. 9,532   230,198
Aerovironment, Inc. (I) 4,686   140,908
Airbus Group NV 141,797   8,913,420
Alliant Techsystems, Inc. 16,012   2,043,772
American Science & Engineering, Inc. 1,898   105,111
Astronics Corp. (I) 4,609   219,757
Astronics Corp., Class B (I) 750   35,635
B/E Aerospace, Inc. (I) 52,799   4,431,948
BAE Systems PLC 761,983   5,799,965
Cobham PLC 275,743   1,298,144
Cubic Corp. 5,033   235,544
Curtiss-Wright Corp. 11,576   763,090
DigitalGlobe, Inc. (I) 18,208   518,928
Ducommun, Inc. (I) 2,868   78,612
Engility Holdings, Inc. (I) 4,309   134,312

The accompanying notes are an integral part of the financial statements. 238


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

Shares or    
Principal    
Amount        Value
COMMON STOCKS (continued)    
Aerospace and defense (continued)    
Esterline Technologies Corp. (I) 23,640 $ 2,630,423
Exelis, Inc. 94,427   1,561,823
Finmeccanica SpA (I) 97,993   948,270
GenCorp, Inc. (I) (L) 14,507   231,677
General Dynamics Corp. 118,528   15,063,724
HEICO Corp. 16,123   752,944
Honeywell International, Inc. 291,984   27,189,550
Huntington Ingalls Industries, Inc. 24,351   2,537,618
Kratos Defense & Security Solutions, Inc. (I) 11,888   77,985
L-3 Communications Holdings, Inc. 31,915   3,795,332
LMI Aerospace, Inc. (I) 3,435   43,968
Lockheed Martin Corp. 100,879   18,438,664
Meggitt PLC 193,222   1,409,366
Moog, Inc., Class A (I) 10,667   729,623
National Presto Industries, Inc. (L) 1,256   76,252
Northrop Grumman Corp. 77,652   10,231,428
Orbital Sciences Corp. (I) 14,654   407,381
Precision Castparts Corp. 53,566   12,688,714
Raytheon Company 116,019   11,789,851
Rockwell Collins, Inc. 50,214   3,941,799
Rolls-Royce Holdings PLC (I) 453,559   7,059,031
Safran SA 65,656   4,256,721
Singapore Technologies Engineering, Ltd. 376,452   1,075,810
Sparton Corp. (I) 2,881   71,017
Taser International, Inc. (I) 13,074   201,863
Teledyne Technologies, Inc. (I) 8,969   843,176
Textron, Inc. 103,364   3,720,070
Thales SA 22,550   1,200,159
The Boeing Company 250,042   31,850,350
The KEYW Holding Corp. (I) (L) 8,169   90,431
Triumph Group, Inc. 25,785   1,677,314
United Technologies Corp. 317,317   33,508,675
Vectrus, Inc. (I) 5,246   102,453
Zodiac Aerospace 45,017   1,435,530
  226,588,336
Air freight and logistics - 0.6%    
Air Transport Services Group, Inc. (I) 12,749   92,813
Atlas Air Worldwide Holdings, Inc. (I) 6,261   206,738
Bollore Sa 1,345   762,737
C.H. Robinson Worldwide, Inc. 54,922   3,642,427
Deutsche Post AG 233,322   7,437,153
Echo Global Logistics, Inc. (I) 5,728   134,894
Expeditors International of Washington, Inc. 72,746   2,952,033
FedEx Corp. 99,056   15,992,591
Forward Air Corp. 7,789   349,181
Hub Group, Inc., Class A (I) 9,029   365,945
Park-Ohio Holdings Corp. 2,100   100,506
Royal Mail PLC 157,462   997,578
TNT Express NV 105,964   668,478
Toll Holdings, Ltd. 165,357   815,638
United Parcel Service, Inc., Class B 262,434   25,794,638
UTi Worldwide, Inc. (I) 22,479   238,952
XPO Logistics, Inc. (I) (L) 12,762   480,745
Yamato Transport Company, Ltd. 88,093   1,640,389
  62,673,436
Airlines - 0.3%    
Alaska Air Group, Inc. 67,628   2,944,523
Allegiant Travel Company 3,326   411,293
ANA Holdings, Inc. 282,495   656,671
Cathay Pacific Airways, Ltd. 286,242   526,636
Delta Air Lines, Inc. 314,480   11,368,452
Deutsche Lufthansa AG 55,807   876,289
easyJet PLC 39,047   898,546
Hawaiian Holdings, Inc. (I) (L) 10,774   144,910
International Consolidated    
       Airlines Group SA (I) 246,261   1,464,590
Japan Airlines Company, Ltd. 29,238   800,030
JetBlue Airways Corp. (I) 182,553   1,938,713
Qantas Airways, Ltd. (I) 265,990   323,109
Republic Airways Holdings, Inc. (I) 12,318   136,853
Ryanair Holdings PLC, ADR (I) 7,546   425,821
Singapore Airlines, Ltd. 131,427   1,011,815
SkyWest, Inc. 12,851   99,981
Southwest Airlines Company 255,676   8,634,179
  32,662,411
Building products - 0.3%    
AAON, Inc. 10,311   175,390
Allegion PLC 35,997   1,714,897
American Woodmark Corp. (I) 3,068   113,086
AO Smith Corp. 37,919   1,792,810
Apogee Enterprises, Inc. 7,054   280,749
Asahi Glass Company, Ltd. 244,380   1,325,712
Assa Abloy AB, Series B 80,938   4,159,206
Builders FirstSource, Inc. (I) 11,106   60,528
Cie de Saint-Gobain 107,588   4,915,855
Continental Building Products, Inc. (I) 3,012   43,975
Daikin Industries, Ltd. 56,797   3,523,293
Fortune Brands Home & Security, Inc. 79,459   3,266,559
Geberit AG 9,154   2,950,452
Gibraltar Industries, Inc. (I) 7,631   104,468
Griffon Corp. 9,677   110,221
Insteel Industries, Inc. 4,386   90,176
Lennox International, Inc. 22,406   1,722,349
LIXIL Group Corp. 64,450   1,374,975
Masco Corp. 131,537   3,146,365
Masonite International Corp. (I) 7,053   390,595
NCI Building Systems, Inc. (I) 6,804   131,998
Nortek, Inc. (I) 2,225   165,763
Patrick Industries, Inc. (I) 1,974   83,619
PGT, Inc. (I) 11,394   106,192
Ply Gem Holdings, Inc. (I) 5,538   60,032
Quanex Building Products Corp. 9,270   167,694
Simpson Manufacturing Company, Inc. 9,999   291,471
TOTO, Ltd. 65,481   720,396
Trex Company, Inc. (I) 8,089   279,637
Universal Forest Products, Inc. 4,917   210,005
  33,478,468
Commercial services and supplies - 0.6%    
ABM Industries, Inc. 13,480   346,301
ACCO Brands Corp. (I) 27,512   189,833
Aggreko PLC 62,038   1,552,732
ARC Document Solutions, Inc. (I) 10,609   85,933
Babcock International Group PLC 121,399   2,142,178
Brady Corp., Class A 11,757   263,827
Brambles, Ltd. 378,546   3,149,023
Casella Waste Systems, Inc., Class A (I) 10,149   39,074
Ceco Environmental Corp. (L) 5,948   79,703
Cenveo, Inc. (I) (L) 16,475   40,693
Cintas Corp. 36,160   2,552,534
Civeo Corp. 76,071   883,184
Clean Harbors, Inc. (I) 27,669   1,491,912
Copart, Inc. (I) 56,879   1,781,166
Dai Nippon Printing Company, Ltd. 135,746   1,362,106
Deluxe Corp. 36,941   2,037,666

The accompanying notes are an integral part of the financial statements. 239


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Commercial services and supplies (continued)
Edenred 49,241 $ 1,213,349
Ennis, Inc. 7,014 92,374
G&K Services, Inc., Class A 4,812 266,489
G4S PLC 375,828 1,523,958
Healthcare Services Group, Inc. 17,079 488,630
Heritage-Crystal Clean, Inc. (I) 2,899 43,079
Herman Miller, Inc. 44,028 1,314,236
HNI Corp. 33,404 1,202,210
InnerWorkings, Inc. (I) 9,510 76,936
Interface, Inc. 16,156 260,758
Kimball International, Inc., Class B 8,259 124,298
Knoll, Inc. 11,834 204,847
Matthews International Corp., Class A 7,013 307,801
McGrath RentCorp. 6,200 212,040
Mobile Mini, Inc. 11,298 395,091
MSA Safety, Inc. 22,911 1,131,803
Multi-Color Corp. 3,034 137,986
Park24 Company, Ltd. 23,900 381,381
Performant Financial Corp. (I) 7,438 60,099
Pitney Bowes, Inc. 74,305 1,856,882
Quad/Graphics, Inc. 6,874 132,325
R.R. Donnelley & Sons Company 100,182 1,648,996
Republic Services, Inc. 94,162 3,674,201
Rollins, Inc. 32,152 941,411
Secom Company, Ltd. 50,855 3,029,657
Securitas AB, Series B 75,783 839,378
Societe BIC SA 6,989 900,925
SP Plus Corp. (I) 3,934 74,589
Steelcase, Inc., Class A 19,844 321,274
Stericycle, Inc. (I) 31,933 3,722,110
Team, Inc. (I) 4,987 189,057
Tetra Tech, Inc. 15,619 390,163
The ADT Corp. (L) 65,604 2,326,318
The Brink’s Company 11,653 280,138
Toppan Printing Company, Ltd. 135,525 973,957
Tyco International, Ltd. 165,597 7,380,658
UniFirst Corp. 3,538 341,735
United Stationers, Inc. 9,454 355,187
US Ecology, Inc. 5,244 245,209
Viad Corp. 5,019 103,642
Waste Connections, Inc. 62,229 3,019,351
Waste Management, Inc. 161,682 7,684,745
West Corp. 9,231 271,945
68,139,083
Construction and engineering - 0.4%
ACS Actividades de Construccion
       y Servicios SA 43,145 1,653,727
AECOM Technology Corp. (I) 49,880 1,683,450
Aegion Corp. (I) 9,199 204,678
Ameresco, Inc., Class A (I) 5,771 39,531
Argan, Inc. 3,003 100,240
Bouygues SA 46,393 1,500,091
Chiyoda Corp. 38,942 430,639
Comfort Systems USA, Inc. 9,415 127,573
Dycom Industries, Inc. (I) 8,200 251,822
EMCOR Group, Inc. 16,089 642,916
Ferrovial SA 100,067 1,935,951
Fluor Corp. 58,949 3,937,204
Furmanite Corp. (I) 9,400 63,544
Granite Construction, Inc. 27,528 875,666
Great Lakes Dredge & Dock Corp. (I) 15,519 95,907
Hochtief AG 5,009 343,770
Jacobs Engineering Group, Inc. (I) 49,804 2,431,431
JGC Corp. 50,206 1,371,706
Kajima Corp. 204,770 980,170
KBR, Inc. 72,823 1,371,257
Koninklijke Boskalis Westinster NV 21,046 1,183,613
Layne Christensen Company (I) (L) 5,643 54,794
Leighton Holdings, Ltd. 25,523 431,713
MasTec, Inc. (I) 15,754 482,387
MYR Group, Inc. (I) 5,459 131,453
Northwest Pipe Company (I) 2,501 85,284
Obayashi Corp. 157,215 1,075,923
OCI NV (I) 20,762 640,450
Orion Marine Group, Inc. (I) 7,536 75,209
Pike Corp. (I) 6,947 82,600
Primoris Services Corp. 9,112 244,566
Quanta Services, Inc. (I) 80,239 2,911,873
Shimizu Corp. 143,129 1,129,439
Skanska AB, Series B 92,015 1,897,648
Sterling Construction Company, Inc. (I) 4,723 36,225
Taisei Corp. 248,868 1,404,036
Tutor Perini Corp. (I) 8,925 235,620
URS Corp. 34,659 1,996,705
Vinci SA 116,462 6,758,391
40,899,202
Electrical equipment - 0.8%
ABB, Ltd. 534,208 11,950,005
Acuity Brands, Inc. 21,668 2,550,540
Alstom SA (I) 52,352 1,795,208
AMETEK, Inc. 91,167 4,577,495
AZZ, Inc. 6,259 261,438
Capstone Turbine Corp. (I) (L) 79,370 84,926
Eaton Corp. PLC 177,606 11,254,892
Emerson Electric Company 260,476 16,300,588
Encore Wire Corp. 5,151 191,051
EnerSys 11,113 651,666
Enphase Energy, Inc. (I) 4,344 65,117
Franklin Electric Company, Inc. 11,533 400,656
FuelCell Energy, Inc. (I) (L) 54,269 113,422
Fuji Electric Company, Ltd. 136,202 659,205
Generac Holdings, Inc. (I) (L) 16,523 669,842
General Cable Corp. 11,710 176,587
Global Power Equipment Group, Inc. 4,959 73,889
GrafTech International, Ltd. (I) 28,514 130,594
Hubbell, Inc., Class B 27,268 3,286,612
Legrand SA 63,718 3,311,011
LSI Industries, Inc. 6,288 38,168
Mabuchi Motor Company, Ltd. 5,977 521,474
Mitsubishi Electric Corp. 466,165 6,214,532
Nidec Corp. 49,193 3,324,321
OSRAM Licht AG (I) 21,709 805,440
Plug Power, Inc. (I) (L) 40,412 185,491
Polypore International, Inc. (I) (L) 10,835 421,590
Powell Industries, Inc. 2,416 98,718
Power Solutions International, Inc. (I) (L) 1,173 80,937
PowerSecure International, Inc. (I) (L) 5,320 50,966
Prysmian SpA 49,436 914,707
Regal-Beloit Corp. 22,656 1,455,648
Rockwell Automation, Inc. 51,492 5,657,941
Schneider Electric SE (I) 126,641 9,716,206
Thermon Group Holdings, Inc. (I) 7,738 188,962
Vestas Wind Systems A/S (I) 54,279 2,116,210
Vicor Corp. (I) 4,596 43,202
90,339,257

The accompanying notes are an integral part of the financial statements. 240


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Industrial conglomerates - 1.8%
3M Company 241,762 $ 34,252,840
Carlisle Companies, Inc. 32,149 2,584,137
Danaher Corp. 227,627 17,295,099
General Electric Company 3,743,161 95,899,785
Hopewell Holdings, Ltd. 615 2,153
Hutchison Whampoa, Ltd. 513,431 6,206,661
Keppel Corp., Ltd. 350,645 2,884,181
Koninklijke Philips NV 234,010 7,441,469
NWS Holdings, Ltd. 370,599 667,707
Raven Industries, Inc. 8,988 219,307
Roper Industries, Inc. 37,165 5,436,868
Seibu Holdings Inc (L) 28,800 575,107
Sembcorp Industries, Ltd. 238,122 966,241
Siemens AG 192,355 22,888,713
Smiths Group PLC 95,541 1,952,767
Toshiba Corp. 975,280 4,527,429
203,800,464
Machinery - 2.1%
Accuride Corp. (I) 10,312 39,082
Actuant Corp., Class A 16,871 514,903
AGCO Corp. 42,797 1,945,552
Alamo Group, Inc. 1,925 78,925
Albany International Corp., Class A 6,748 229,702
Alfa Laval AB 76,214 1,623,790
Altra Industrial Motion Corp. 6,603 192,543
Amada Company, Ltd. 86,452 824,236
American Railcar Industries, Inc. (L) 2,283 168,759
Andritz AG 17,633 938,877
Astec Industries, Inc. 4,615 168,309
Atlas Copco AB, Series A 162,672 4,641,634
Atlas Copco AB, Series B 94,584 2,444,405
Barnes Group, Inc. 13,022 395,218
Blount International, Inc. (I) 11,913 180,244
Briggs & Stratton Corp. 11,376 204,996
Caterpillar, Inc. 234,329 23,205,601
Chart Industries, Inc. (I) (L) 7,343 448,878
CIRCOR International, Inc. 4,238 285,345
CLARCOR, Inc. 37,277 2,351,433
CNH Industrial NV 228,790 1,812,243
Columbus McKinnon Corp. 5,113 112,435
Commercial Vehicle Group, Inc. (I) 7,603 46,987
Crane Company 24,841 1,570,200
Cummins, Inc. 63,907 8,434,446
Deere & Company 133,801 10,970,344
Donaldson Company, Inc. 66,658 2,708,315
Douglas Dynamics, Inc. 5,481 106,880
Dover Corp. 61,971 4,978,130
Dynamic Materials Corp. 3,781 72,028
Energy Recovery, Inc. (I) (L) 11,617 41,124
EnPro Industries, Inc. (I) 5,474 331,341
ESCO Technologies, Inc. 6,552 227,879
FANUC Corp. 46,418 8,394,821
Federal Signal Corp. 15,272 202,201
Flowserve Corp. 50,849 3,585,871
FreightCar America, Inc. 3,117 103,796
GEA Group AG 44,305 1,924,770
Global Brass & Copper Holdings, Inc. 5,482 80,421
Graco, Inc. 30,126 2,198,595
Graham Corp. 2,837 81,564
Harsco Corp. 59,989 1,284,364
Hillenbrand, Inc. 15,165 468,447
Hino Motors, Ltd. 62,642 876,565
Hitachi Construction
       Machinery Company, Ltd. 26,152 526,503
Hurco Companies, Inc. 1,871 70,462
Hyster-Yale Materials Handling, Inc. 2,445 175,111
IDEX Corp. 40,147 2,905,438
IHI Corp. 339,765 1,760,778
Illinois Tool Works, Inc. 136,308 11,507,121
IMI PLC 66,038 1,313,231
Ingersoll-Rand PLC 99,807 5,625,123
ITT Corp. 45,930 2,064,094
John Bean Technologies Corp. 7,040 198,035
Joy Global, Inc. (L) 36,742 2,003,909
JTEKT Corp. 49,893 836,281
Kadant, Inc. 2,747 107,270
Kawasaki Heavy Industries, Ltd. 344,204 1,376,139
Kennametal, Inc. 39,452 1,629,762
Komatsu, Ltd. 224,876 5,197,141
Kone OYJ 75,695 3,030,474
Kubota Corp. 268,952 4,258,416
Kurita Water Industries, Ltd. 22,427 500,273
LB Foster Company, Class A 2,628 120,730
Lincoln Electric Holdings, Inc. 39,844 2,754,615
Lindsay Corp. (L) 3,124 233,519
Lydall, Inc. (I) 4,080 110,201
Makita Corp. 28,826 1,628,432
MAN SE 8,541 961,151
Manitex International, Inc. (I) 3,406 38,454
Melrose Industries PLC 259,699 1,039,480
Meritor, Inc. (I) 23,403 253,923
Metso OYJ 27,442 972,201
Miller Industries, Inc. 3,537 59,775
Mitsubishi Heavy Industries, Ltd. 735,635 4,735,899
Mueller Industries, Inc. 13,660 389,856
Mueller Water Products, Inc., Class A 38,608 319,674
Nabtesco Corp. 27,689 663,309
NGK Insulators, Ltd. 63,461 1,512,701
NN, Inc. 4,290 114,629
Nordson Corp. 29,422 2,238,132
NSK, Ltd. 113,498 1,618,829
Oshkosh Corp. 42,628 1,882,026
PACCAR, Inc. 132,451 7,533,151
Pall Corp. 40,047 3,351,934
Parker Hannifin Corp. 55,570 6,343,316
Pentair PLC 71,986 4,714,363
Proto Labs, Inc. (I) (L) 5,442 375,498
RBC Bearings, Inc. 5,680 322,056
Rexnord Corp. (I) 18,110 515,230
Sandvik AB (L) 258,362 2,901,748
Schindler Holding AG,
       Participation Certificates 11,384 1,542,020
Schindler Holding AG, Registered Shares 4,974 663,212
SembCorp Marine, Ltd. 202,732 593,650
SKF AB, B Shares 95,934 1,997,183
SMC Corp. 13,347 3,680,315
Snap-on, Inc. 21,415 2,592,928
SPX Corp. 21,341 2,004,560
Standex International Corp. 3,071 227,684
Stanley Black & Decker, Inc. 58,094 5,158,166
Sulzer AG 5,810 712,468
Sumitomo Heavy Industries, Ltd. 134,306 756,456
Sun Hydraulics Corp. 5,427 204,001
Tennant Company 4,432 297,343
Terex Corp. 55,256 1,755,483

The accompanying notes are an integral part of the financial statements. 241


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Machinery (continued)
The ExOne Company (I) (L) 2,371 $ 49,530
The Gorman-Rupp Company 4,651 139,716
The Greenbrier Companies, Inc. (L) 6,650 487,977
The Weir Group PLC 51,628 2,085,008
THK Company, Ltd. 27,652 689,059
Timken Company 38,232 1,620,654
Titan International, Inc. (L) 10,698 126,450
TriMas Corp. (I) 11,015 267,995
Trinity Industries, Inc. 78,248 3,655,747
Twin Disc, Inc. 2,235 60,256
Vallourec SA 26,647 1,226,291
Valmont Industries, Inc. (L) 13,134 1,772,171
Volvo AB, Series B 372,950 4,034,906
Wabash National Corp. (I) 16,443 219,021
Wabtec Corp. 48,289 3,913,341
Wartsila OYJ Abp 35,805 1,595,444
Watts Water Technologies, Inc., Class A 6,800 396,100
Woodward, Inc. 45,175 2,151,234
Xerium Technologies, Inc. (I) 3,254 47,541
Xylem, Inc. 67,454 2,393,942
Yangzijiang Shipbuilding Holdings, Ltd. 467,001 431,517
Zardoya Otis SA 43,104 534,239
234,370,200
Marine - 0.1%
A.P. Moeller - Maersk A/S, Series A 921 2,124,494
A.P. Moeller - Maersk A/S, Series B 1,749 4,143,107
Baltic Trading, Ltd. 13,338 55,219
Kirby Corp. (I) 28,607 3,371,335
Knightsbridge Tankers, Ltd. 8,069 71,411
Kuehne & Nagel International AG 13,082 1,648,377
Matson, Inc. 10,386 259,962
Mitsui O.S.K. Lines, Ltd. 263,040 840,445
Navios Maritime Holdings, Inc. (L) 19,348 116,088
Nippon Yusen KK 391,257 1,031,585
Safe Bulkers, Inc. (L) 9,445 62,904
Scorpio Bulkers, Inc. (I) 33,027 192,217
13,917,144
Professional services - 0.4%
Acacia Research Corp. (L) 12,369 191,472
Adecco SA (I) 41,253 2,788,740
ALS, Ltd. 94,694 435,744
Barrett Business Services, Inc. 1,762 69,581
Bureau Veritas SA 53,457 1,181,451
Capita PLC 159,608 3,004,686
CBIZ, Inc. (I) 10,533 82,895
CDI Corp. 3,435 49,876
CRA International, Inc. (I) 2,807 71,382
Equifax, Inc. 45,120 3,372,269
Experian PLC 240,604 3,823,295
Exponent, Inc. 3,161 224,052
Franklin Covey Company (I) 3,166 62,022
FTI Consulting, Inc. (I) 30,322 1,060,057
GP Strategies Corp. (I) 3,693 106,063
Heidrick & Struggles International, Inc. 4,714 96,826
Huron Consulting Group, Inc. (I) 5,698 347,407
ICF International, Inc. (I) 4,893 150,655
Insperity, Inc. 5,546 151,628
Intertek Group PLC 39,089 1,656,573
Kelly Services, Inc., Class A 6,511 102,027
Kforce, Inc. 6,783 132,743
Korn/Ferry International (I) 12,008 298,999
ManpowerGroup, Inc. 39,974 2,802,177
Mistras Group, Inc. (I) 4,020 82,008
Navigant Consulting, Inc. (I) 11,901 165,543
Nielsen NV 114,194 5,062,220
On Assignment, Inc. (I) 13,158 353,292
Paylocity Holding Corp. (I) 2,088 41,029
Pendrell Corp. (I) 38,314 51,341
Randstad Holding NV 30,087 1,397,817
Resources Connection, Inc. 9,562 133,294
Robert Half International, Inc. 50,597 2,479,253
RPX Corp. (I) 12,956 177,886
Seek, Ltd. 78,340 1,108,419
SGS SA 1,326 2,743,432
The Advisory Board Company (I) 8,848 412,228
The Corporate Executive Board Company 25,043 1,504,333
The Dun & Bradstreet Corp. 13,372 1,570,809
Towers Watson & Company, Class A 35,206 3,502,997
Trinet Group, Inc. (I) 3,847 99,060
TrueBlue, Inc. (I) 9,924 250,680
VSE Corp. 1,042 51,079
WageWorks, Inc. (I) 8,492 386,641
43,835,981
Road and rail - 1.0%
ArcBest Corp. 6,388 238,272
Asciano, Ltd. 236,576 1,250,571
Aurizon Holdings, Ltd. 518,079 2,052,192
Celadon Group, Inc. 5,128 99,740
Central Japan Railway Company, Ltd. 34,632 4,671,465
ComfortDelGro Corp., Ltd. 488,518 917,648
Con-way, Inc. 28,834 1,369,615
CSX Corp. 373,100 11,961,586
DSV A/S 41,577 1,169,086
East Japan Railway Company 81,740 6,122,546
Genesee & Wyoming, Inc., Class A (I) 25,618 2,441,652
Hankyu Hanshin Holdings, Inc. 277,095 1,613,539
Heartland Express, Inc. 13,358 320,058
J.B. Hunt Transport Services, Inc. 46,159 3,418,074
Kansas City Southern 41,024 4,972,109
Keikyu Corp. 113,559 947,958
Keio Corp. 140,077 1,035,045
Keisei Electric Railway Company, Ltd. 66,989 672,589
Kintetsu Corp. 438,745 1,475,980
Knight Transportation, Inc. 14,525 397,840
Landstar System, Inc. 22,402 1,617,200
Marten Transport, Ltd. 5,826 103,761
MTR Corp., Ltd. 351,815 1,381,848
Nagoya Railroad Company, Ltd. 207,000 830,232
Nippon Express Company, Ltd. 207,469 868,945
Norfolk Southern Corp. 115,555 12,895,938
Odakyu Electric Railway Company, Ltd. 151,759 1,387,797
Old Dominion Freight Line, Inc. (I) 34,125 2,410,590
Patriot Transportation Holding, Inc. (I) 1,867 63,329
Quality Distribution, Inc. (I) 7,384 94,368
Roadrunner Transportation Systems, Inc. (I) 6,756 153,969
Ryder Systems, Inc. 19,675 1,770,160
Saia, Inc. (I) 6,091 301,870
Swift Transportation Company (I) 20,568 431,517
Tobu Railway Company, Ltd. 247,365 1,243,795
Tokyu Corp. 275,417 1,805,038
Union Pacific Corp. 334,857 36,305,196
Werner Enterprises, Inc. 33,167 835,808
West Japan Railway Company 39,875 1,784,519

The accompanying notes are an integral part of the financial statements. 242


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Road and rail (continued)
YRC Worldwide, Inc. (I) 7,657 $ 155,590
113,589,035
Trading companies and distributors - 0.6%
Aceto Corp. 6,925 133,791
Aircastle, Ltd. 15,187 248,459
Applied Industrial Technologies, Inc. 9,972 455,222
Beacon Roofing Supply, Inc. (I) 11,969 304,970
Brenntag AG 37,428 1,831,883
Bunzl PLC 80,746 2,100,973
CAI International, Inc. (I) 4,579 88,604
DXP Enterprises, Inc. (I) 3,148 231,945
Fastenal Company (L) 101,435 4,554,432
GATX Corp. 22,461 1,311,049
H&E Equipment Services, Inc. 7,553 304,235
Houston Wire & Cable Company 5,384 64,500
ITOCHU Corp. 364,766 4,454,885
Kaman Corp. 6,604 259,537
Marubeni Corp. 399,988 2,737,076
Mitsubishi Corp. 340,506 6,973,646
Mitsui & Company, Ltd. 413,880 6,528,577
MSC Industrial Direct Company, Inc., Class A 25,660 2,192,904
Noble Group, Ltd. 1,047,766 1,065,221
NOW, Inc. (I) (L) 53,679 1,632,378
Rexel SA 65,194 1,217,483
Rush Enterprises, Inc., Class A (I) 8,268 276,565
Sojitz Corp. 1,051 1,650
Stock Building Supply Holdings, Inc. (I) 3,623 56,917
Sumitomo Corp. 272,666 3,009,445
TAL International Group, Inc. (I) (L) 8,131 335,404
Textainer Group Holdings, Ltd. 5,058 157,405
Titan Machinery, Inc. (I) (L) 4,404 57,208
Toyota Tsusho Corp. 51,459 1,253,489
Travis Perkins PLC 59,807 1,606,869
United Rentals, Inc. (I) 35,809 3,978,380
W.W. Grainger, Inc. 22,695 5,711,197
Watsco, Inc. 19,794 1,705,847
Wolseley PLC 64,399 3,373,151
60,215,297
Transportation infrastructure - 0.1%
Abertis Infraestructuras SA 97,878 1,930,107
Aeroports de Paris 7,176 859,263
Atlantia SpA 99,999 2,456,542
Auckland International Airport, Ltd. 233,406 701,212
Fraport AG Frankfurt Airport
       Services Worldwide 8,898 583,441
Groupe Eurotunnel SA 113,136 1,382,012
Hutchison Port Holdings Trust 1,392,336 973,885
Kamigumi Company, Ltd. 56,412 534,203
Mitsubishi Logistics Corp. 29,472 423,444
Sydney Airport 267,412 998,393
Transurban Group 436,411 2,946,468
Wesco Aircraft Holdings, Inc. (I) 12,615 219,501
14,008,471
1,238,516,785
Information technology - 14.6%
Communications equipment - 1.2%
ADTRAN, Inc. 41,008 841,894
Alcatel-Lucent (I) 675,860 2,084,557
Alliance Fiber Optic Products, Inc. 2,907 36,134
Applied Optoelectronics, Inc. (I) 3,504 56,414
ARRIS Group, Inc. (I) 66,045 1,872,706
Aruba Networks, Inc. (I) 25,767 556,052
Bel Fuse, Inc., Class B 2,680 66,303
Black Box Corp. 3,761 87,707
CalAmp Corp. (I) 8,761 154,369
Calix, Inc. (I) 10,014 95,834
Ciena Corp. (I) (L) 78,747 1,316,650
Cisco Systems, Inc. 1,902,369 47,882,628
Clearfield, Inc. (I) (L) 2,778 35,364
Comtech Telecommunications Corp. 3,661 136,006
Digi International, Inc. (I) 7,322 54,915
Emulex Corp. (I) 19,432 95,994
Extreme Networks, Inc. (I) 23,779 113,901
F5 Networks, Inc. (I) 27,667 3,285,180
Finisar Corp. (I) (L) 23,345 388,227
Harmonic, Inc. (I) 23,463 148,755
Harris Corp. 39,175 2,601,220
Infinera Corp. (I) (L) 29,758 317,518
InterDigital, Inc. 30,066 1,197,228
Ixia (I) 14,365 131,296
JDS Uniphase Corp. (I) 115,345 1,476,416
Juniper Networks, Inc. 149,911 3,320,529
KVH Industries, Inc. (I) 4,852 54,925
Motorola Solutions, Inc. 82,395 5,213,956
NETGEAR, Inc. (I) 8,859 276,844
Numerex Corp., Class A (I) 3,589 37,613
Oclaro, Inc. (I) (L) 24,180 34,577
Oplink Communications, Inc. 4,941 83,108
Parkervision, Inc. (I) (L) 27,281 31,100
Plantronics, Inc. 31,688 1,514,053
Polycom, Inc. (I) 102,054 1,253,733
Procera Networks, Inc. (I) (L) 5,968 57,173
QUALCOMM, Inc. 625,262 46,750,840
Riverbed Technology, Inc. (I) 80,085 1,485,176
Ruckus Wireless, Inc. (I) 15,821 211,369
ShoreTel, Inc. (I) 16,058 106,786
Sonus Networks, Inc. (I) 59,766 204,400
Telefonaktiebolaget LM Ericsson, B Shares 737,362 9,297,296
Tessco Technologies, Inc. 1,487 43,108
Ubiquiti Networks, Inc. (I) (L) 7,198 270,141
ViaSat, Inc. (I) (L) 9,989 550,594
135,830,589
Electronic equipment, instruments and components - 0.9%
Agilysys, Inc. (I) 4,318 50,650
Amphenol Corp., Class A 58,545 5,846,304
Anixter International, Inc. 6,491 550,696
Arrow Electronics, Inc. (I) 49,564 2,743,367
Avnet, Inc. 69,332 2,877,278
Badger Meter, Inc. 3,566 179,905
Belden, Inc. 32,142 2,057,731
Benchmark Electronics, Inc. (I) 12,797 284,221
Checkpoint Systems, Inc. (I) 9,999 122,288
Citizen Holdings Company, Ltd. 64,441 423,150
Cognex Corp. (I) 64,423 2,594,314
Coherent, Inc. (I) 6,036 370,429
Control4 Corp. (I) (L) 2,713 35,079
Corning, Inc. 481,804 9,318,089
CTS Corp. 7,953 126,373
CUI Global, Inc. (I) (L) 5,438 39,371
Daktronics, Inc. 9,424 115,821
DTS, Inc. (I) 4,345 109,711
Electro Rent Corp. 3,969 54,653
Electro Scientific Industries, Inc. 6,960 47,258
Fabrinet (I) 8,631 126,013

The accompanying notes are an integral part of the financial statements. 243


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

Shares or
Principal
Amount         Value
COMMON STOCKS (continued)
Electronic equipment, instruments and
components (continued)
FARO Technologies, Inc. (I) 4,174 $ 211,831
FEI Company 31,215 2,354,235
FLIR Systems, Inc. 53,663 1,681,798
GSI Group, Inc. (I) 7,286 83,716
Hamamatsu Photonics KK 17,315 822,715
Hexagon AB, B Shares 61,649 1,949,366
Hirose Electric Company, Ltd. 7,270 897,559
Hitachi High-Technologies Corp. 15,084 433,782
Hitachi, Ltd. 1,170,972 8,946,263
Hoya Corp. 105,360 3,538,014
Ibiden Company, Ltd. 29,286 570,850
II-VI, Inc. (I) 12,778 150,397
Ingram Micro, Inc., Class A (I) 78,021 2,013,722
Insight Enterprises, Inc. (I) 9,881 223,607
InvenSense, Inc. (I) (L) 17,142 338,212
Itron, Inc. (I) 29,201 1,147,891
Jabil Circuit, Inc. 74,569 1,504,057
Japan Display, Inc. (I) 90,200 434,747
KEMET Corp. (I) 11,954 49,250
Keyence Corp. 11,047 4,796,456
Knowles Corp. (I) 42,642 1,130,013
Kyocera Corp. 77,763 3,632,074
Littelfuse, Inc. 5,434 462,868
Maxwell Technologies, Inc. (I) 7,106 61,964
Measurement Specialties, Inc. (I) 3,839 328,657
Mercury Systems, Inc. (I) 7,948 87,507
Mesa Laboratories, Inc. 728 42,064
Methode Electronics, Inc. 9,132 336,697
MTS Systems Corp. 3,638 248,330
Murata Manufacturing Company, Ltd. 48,713 5,536,980
National Instruments Corp. 50,410 1,559,181
Newport Corp. (I) 9,832 174,223
Nippon Electric Glass Company, Ltd. 97,121 472,142
Omron Corp. 49,518 2,250,493
OSI Systems, Inc. (I) 4,841 307,307
Park Electrochemical Corp. 4,997 117,679
PC Connection, Inc. 2,355 50,562
Plexus Corp. (I) 8,239 304,266
RealD, Inc. (I) (L) 9,643 90,355
Rofin-Sinar Technologies, Inc. (I) 6,914 159,437
Rogers Corp. (I) 4,378 239,739
Sanmina Corp. (I) 19,825 413,550
ScanSource, Inc. (I) 6,808 235,489
Shimadzu Corp. 57,492 498,074
Speed Commerce, Inc. (I) 12,076 33,209
SYNNEX Corp. (I) 6,818 440,647
TDK Corp. 29,821 1,668,194
TE Connectivity, Ltd. 152,676 8,441,456
Tech Data Corp. (I) 19,178 1,128,817
Trimble Navigation, Ltd. (I) 130,325 3,974,913
TTM Technologies, Inc. (I) 13,631 92,827
Universal Display Corp. (I) (L) 9,848 321,439
Vishay Intertechnology, Inc. 68,033 972,192
Vishay Precision Group, Inc. (I) 3,100 46,314
Yaskawa Electric Corp. 54,610 742,134
Yokogawa Electric Corp. 52,692 692,807
Zebra Technologies Corp., Class A (I) 25,456 1,806,612
99,322,381
Internet software and services - 2.2%
Akamai Technologies, Inc. (I) 66,028 3,948,474
Amber Road, Inc. (I) (L) 2,487 43,125
Angie’s List, Inc. (I) (L) 11,127 70,879
AOL, Inc. (I) 39,446 1,773,098
Bankrate, Inc. (I) 16,248 184,577
Bazaarvoice, Inc. (I) (L) 12,632 93,350
Benefitfocus, Inc. (I) (L) 1,289 34,726
Blucora, Inc. (I) 10,331 157,444
Brightcove, Inc. (I) 8,159 45,527
Carbonite, Inc. (I) 4,910 50,278
ChannelAdvisor Corp. (I) 5,162 84,657
comScore, Inc. (I) 8,412 306,281
Constant Contact, Inc. (I) 7,582 205,775
Conversant, Inc. (I) 46,406 1,589,406
Cornerstone OnDemand, Inc. (I) 12,880 443,201
Cvent, Inc. (I) (L) 4,459 113,125
Dealertrack Technologies, Inc. (I) 12,933 561,422
Demand Media, Inc. (I) 2,068 18,302
Demandware, Inc. (I) 7,276 370,494
Dena Company, Ltd. (L) 25,577 325,171
Dice Holdings, Inc. (I) 9,715 81,412
Digital River, Inc. (I) 8,229 119,485
E2open, Inc. (I) (L) 5,693 53,002
Earthlink Holdings Corp. 25,871 88,479
eBay, Inc. (I) 421,464 23,867,506
Endurance International
       Group Holdings, Inc. (I) (L) 7,446 121,146
Envestnet, Inc. (I) 8,302 373,590
Equinix, Inc. (I) 26,672 5,667,267
Everyday Health, Inc. (I) (L) 2,091 29,211
Facebook, Inc., Class A (I) 727,540 57,504,762
Global Eagle Entertainment, Inc. (I) 9,356 104,974
Gogo, Inc. (I) (L) 13,600 229,296
Google, Inc., Class A (I) 105,992 62,366,753
Google, Inc., Class C (I) 105,983 61,190,345
Gree, Inc. (L) 27,157 185,170
GrubHub, Inc. (I) (L) 2,178 74,575
GTT Communications, Inc. (I) 3,787 45,103
Internap Network Services Corp. (I) 13,638 94,102
IntraLinks Holdings, Inc. (I) 9,556 77,404
j2 Global, Inc. (L) 11,483 566,801
Kakaku.com, Inc. 33,000 468,727
Limelight Networks, Inc. (I) 15,488 36,164
Liquidity Services, Inc. (I) 6,259 86,061
LivePerson, Inc. (I) 13,195 166,125
LogMeIn, Inc. (I) 5,891 271,398
Marchex, Inc., Class B 8,172 33,914
Marin Software, Inc. (I) (L) 6,878 59,151
Marketo, Inc. (I) (L) 6,262 202,263
Millennial Media, Inc. (I) (L) 17,392 32,349
Monster Worldwide, Inc. (I) 22,194 122,067
Move, Inc. (I) 9,741 204,171
NIC, Inc. 15,739 271,026
OPOWER, Inc. (I) (L) 2,031 38,305
Perficient, Inc. (I) 8,605 128,989
Q2 Holdings, Inc. (I) 2,686 37,604
QuinStreet, Inc. (I) 8,375 34,756
Rackspace Hosting, Inc. (I) 59,519 1,937,343
RealNetworks, Inc. (I) 5,758 40,018
Reis, Inc. 2,486 58,645
Rightside Group, Ltd. (I) 2,068 20,163
Rocket Fuel, Inc. (I) (L) 4,414 69,741
SciQuest, Inc. (I) 6,966 104,769
Shutterstock, Inc. (I) (L) 3,674 262,250
SPS Commerce, Inc. (I) 3,956 210,261
Stamps.com, Inc. (I) 3,581 113,733

The accompanying notes are an integral part of the financial statements. 244


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

Shares or
Principal
Amount         Value
COMMON STOCKS (continued)
Internet software and services (continued)
TechTarget, Inc. (I) 4,735 $ 40,674
Textura Corp. (I) (L) 4,575 120,780
Tremor Video, Inc. (I) (L) 8,454 19,782
TrueCar, Inc. (I) (L) 1,986 35,649
Trulia, Inc. (I) (L) 8,923 436,335
United Internet AG 28,168 1,195,965
Unwired Planet, Inc. (I) 27,159 50,516
VeriSign, Inc. (I) 42,067 2,318,733
Vistaprint NV (I) (L) 8,024 439,635
Web.com Group, Inc. (I) 12,612 251,736
WebMD Health Corp. (I) (L) 9,382 392,261
Wix.com, Ltd. (I) (L) 3,266 53,073
XO Group, Inc. (I) 6,168 69,143
Xoom Corp. (I) 7,559 165,920
Yahoo Japan Corp. 348,254 1,323,697
Yahoo!, Inc. (I) 345,197 14,066,778
Zix Corp. (I) 16,732 57,223
249,307,588
IT services - 2.3%
Accenture PLC, Class A 235,485 19,149,640
Acxiom Corp. (I) 57,283 948,034
Alliance Data Systems Corp. (I) 20,724 5,145,147
Amadeus IT Holding SA, A Shares 92,132 3,439,404
AtoS 19,014 1,376,916
Automatic Data Processing, Inc. 179,410 14,905,383
Blackhawk Network Holdings, Inc. (I) (L) 13,006 421,394
Broadridge Financial Solutions, Inc. 59,933 2,495,011
CACI International, Inc., Class A (I) 5,542 394,978
Cap Gemini SA 34,938 2,505,528
Cardtronics, Inc. (I) 10,762 378,822
Cass Information Systems, Inc. 2,790 115,506
CIBER, Inc. (I) 20,240 69,423
Cognizant Technology
       Solutions Corp., Class A (I) 226,796 10,153,657
Computer Sciences Corp. 54,571 3,337,017
Computer Task Group, Inc. 4,159 46,165
Computershare, Ltd. 114,560 1,218,186
Convergys Corp. 74,930 1,335,253
CoreLogic, Inc. (I) 45,698 1,237,045
CSG Systems International, Inc. 8,199 215,470
Datalink Corp. (I) 5,110 54,319
DST Systems, Inc. 15,339 1,287,249
EPAM Systems, Inc. (I) 8,604 376,769
Euronet Worldwide, Inc. (I) 12,286 587,148
EVERTEC, Inc. 15,672 350,112
ExlService Holdings, Inc. (I) 7,944 193,913
Fidelity National Information Services, Inc. 106,537 5,998,033
Fiserv, Inc. (I) 92,904 6,004,850
Forrester Research, Inc. 2,741 101,033
Fujitsu, Ltd. 451,232 2,777,137
Gartner, Inc. (I) 44,574 3,274,852
Global Cash Access Holdings, Inc. (I) 15,678 105,827
Global Payments, Inc. 34,188 2,389,057
Heartland Payment Systems, Inc. 8,602 410,487
Higher One Holdings, Inc. (I) 8,182 20,210
iGATE Corp. (I) 8,927 327,799
International Business Machines Corp. 346,105 65,701,112
Itochu Techno-Solutions Corp. 6,116 257,067
Jack Henry & Associates, Inc. 41,355 2,301,819
Leidos Holdings, Inc. 31,185 1,070,581
Lionbridge Technologies, Inc. (I) 16,280 73,260
Luxoft Holding, Inc. (I) (L) 2,032 75,590
ManTech International Corp., Class A 5,714 153,992
MasterCard, Inc., Class A 367,188 27,142,537
MAXIMUS, Inc. 16,229 651,270
ModusLink Global Solutions, Inc. (I) (L) 10,914 38,963
MoneyGram International, Inc. (I) 7,295 91,479
NeuStar, Inc., Class A (I) (L) 41,633 1,033,747
Nomura Research Institute, Ltd. 27,610 892,909
NTT Data Corp. 30,562 1,102,436
Otsuka Corp. 11,500 457,885
Paychex, Inc. 121,995 5,392,179
PRGX Global, Inc. (I) 8,360 48,990
Sapient Corp. (I) 27,632 386,848
Science Applications International Corp. 30,356 1,342,646
ServiceSource International, Inc. (I) (L) 17,402 56,208
Sykes Enterprises, Inc. (I) 9,554 190,889
Syntel, Inc. (I) 3,705 325,818
TeleTech Holdings, Inc. (I) 4,217 103,654
Teradata Corp. (I) 57,833 2,424,359
The Hackett Group, Inc. 7,399 44,098
The Western Union Company 197,744 3,171,814
Total System Services, Inc. 60,789 1,882,027
Unisys Corp. (I) 12,352 289,160
VeriFone Systems, Inc. (I) 56,689 1,948,968
Virtusa Corp. (I) 6,296 223,886
Visa, Inc., Class A 183,643 39,183,907
WEX, Inc. (I) 28,714 3,167,728
Xerox Corp. 404,696 5,354,128
259,728,728
Semiconductors and semiconductor equipment - 2.0%
Advanced Energy Industries, Inc. (I) 9,948 186,923
Advanced Micro Devices, Inc. (I) (L) 311,014 1,060,558
Advantest Corp. 38,981 503,253
Alpha & Omega Semiconductor, Ltd. (I) 5,349 50,281
Altera Corp. 115,510 4,132,948
Ambarella, Inc. (I) (L) 6,905 301,541
Amkor Technology, Inc. (I) 20,547 172,800
Analog Devices, Inc. 117,090 5,794,784
Applied Materials, Inc. 454,858 9,829,481
Applied Micro Circuits Corp. (I) 18,998 132,986
ARM Holdings PLC 339,386 4,944,585
ASM Pacific Technology, Ltd. 58,068 574,297
ASML Holding NV 86,284 8,546,310
Atmel Corp. (I) 209,885 1,695,871
Avago Technologies, Ltd. 94,003 8,178,261
Axcelis Technologies, Inc. (I) 26,677 53,087
Broadcom Corp., Class A 200,797 8,116,215
Brooks Automation, Inc. 16,261 170,903
Cabot Microelectronics Corp. (I) 5,761 238,793
Cascade Microtech, Inc. (I) 3,830 38,798
Cavium, Inc. (I) 12,712 632,168
CEVA, Inc. (I) 5,764 77,468
Cirrus Logic, Inc. (I) 14,806 308,705
Cohu, Inc. 6,867 82,198
Cree, Inc. (I) (L) 60,194 2,464,944
Cypress Semiconductor Corp. (I) (L) 111,508 1,101,142
Diodes, Inc. (I) 8,682 207,673
DSP Group, Inc. (I) 5,561 49,326
Entegris, Inc. (I) 33,593 386,320
Entropic Communications, Inc. (I) 22,967 61,092
Exar Corp. (I) 9,573 85,678
Fairchild Semiconductor International, Inc. (I) 90,182 1,400,526
First Solar, Inc. (I) 28,071 1,847,353
FormFactor, Inc. (I) 13,387 95,985
GT Advanced Technologies, Inc. (I) (L) 32,834 355,592

The accompanying notes are an integral part of the financial statements. 245


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Semiconductors and semiconductor equipment (continued)
Infineon Technologies AG 273,094 $ 2,810,938
Inphi Corp. (I) 7,492 107,735
Integrated Device Technology, Inc. (I) 106,688 1,701,674
Integrated Silicon Solution, Inc. 7,513 103,229
Intel Corp. 1,847,198 64,319,434
International Rectifier Corp. (I) 53,006 2,079,955
Intersil Corp., Class A 95,912 1,362,910
IXYS Corp. 6,019 63,200
KLA-Tencor Corp. 61,658 4,857,417
Kopin Corp. (I) 17,994 61,180
Lam Research Corp. 60,228 4,499,032
Lattice Semiconductor Corp. (I) 28,340 212,550
Linear Technology Corp. 89,162 3,957,901
M/A-COM Technology
       Solutions Holdings, Inc. (I) 2,929 63,969
MaxLinear, Inc., Class A (I) 7,122 48,999
Micrel, Inc. 10,838 130,381
Microchip Technology, Inc. (L) 74,124 3,500,877
Micron Technology, Inc. (I) 399,583 13,689,714
Microsemi Corp. (I) 22,765 578,459
MKS Instruments, Inc. 12,924 431,403
Monolithic Power Systems, Inc. 9,282 408,872
Nanometrics, Inc. (I) 5,838 88,154
NVE Corp. (I) 1,333 86,032
NVIDIA Corp. 192,330 3,548,489
OmniVision Technologies, Inc. (I) 13,408 354,776
PDF Solutions, Inc. (I) 7,316 92,255
Peregrine Semiconductor Corp. (I) 6,863 84,895
Pericom Semiconductor Corp. (I) 5,757 56,073
Photronics, Inc. (I) 15,269 122,915
PMC-Sierra, Inc. (I) 41,950 312,947
Power Integrations, Inc. 7,325 394,891
QuickLogic Corp. (I) (L) 14,241 42,581
Rambus, Inc. (I) 27,534 343,624
REC Silicon ASA (I) 50 20
RF Micro Devices, Inc. (I) (L) 213,052 2,458,620
Rohm Company, Ltd. 23,342 1,469,729
Rubicon Technology, Inc. (I) (L) 6,535 27,774
Rudolph Technologies, Inc. (I) 8,898 80,527
Semtech Corp. (I) 50,006 1,357,663
Silicon Image, Inc. (I) 19,716 99,369
Silicon Laboratories, Inc. (I) 30,642 1,245,291
Skyworks Solutions, Inc. 95,032 5,516,608
Spansion, Inc., Class A (I) 14,396 328,085
STMicroelectronics NV (L) 154,337 1,191,589
SunEdison, Inc. (I) 125,391 2,367,382
Synaptics, Inc. (I) 8,663 634,132
Teradyne, Inc. 102,638 1,990,151
Tessera Technologies, Inc. 12,882 342,404
Texas Instruments, Inc. 398,512 19,005,037
Tokyo Electron, Ltd. 41,560 2,708,683
TriQuint Semiconductor, Inc. (I) 41,219 786,046
Ultra Clean Holdings, Inc. (I) 7,054 63,133
Ultratech, Inc. (I) 6,918 157,385
Veeco Instruments, Inc. (I) 9,646 337,128
Vitesse Semiconductor Corp. (I) 13,394 48,218
Xcerra Corp. (I) 11,662 114,171
Xilinx, Inc. 99,804 4,226,699
220,952,150
Software - 3.0%
ACI Worldwide, Inc. (I) 84,691 1,588,803
Actuate Corp. (I) 11,944 46,582
Adobe Systems, Inc. (I) 176,304 12,198,474
Advent Software, Inc. 34,720 1,095,763
American Software, Inc., Class A 6,589 58,115
ANSYS, Inc. (I) 46,137 3,491,187
Aspen Technology, Inc. (I) 22,197 837,271
Autodesk, Inc. (I) 84,662 4,664,876
AVG Technologies NV (I) 8,375 138,858
Barracuda Networks, Inc. (I) 1,860 47,709
Blackbaud, Inc. 11,203 440,166
Bottomline Technologies, Inc. (I) 9,699 267,595
BroadSoft, Inc. (I) 7,023 147,764
CA, Inc. 120,206 3,358,556
Cadence Design Systems, Inc. (I) 145,427 2,502,799
Callidus Software, Inc. (I) 11,460 137,749
CDK Global, Inc. (I) 82,156 2,513,152
Citrix Systems, Inc. (I) 61,745 4,404,888
CommVault Systems, Inc. (I) 32,741 1,650,146
Compuware Corp. 163,254 1,732,125
Comverse, Inc. (I) 5,590 124,825
Concur Technologies, Inc. (I) 24,023 3,046,597
Dassault Systemes SA 30,544 1,962,108
Digimarc Corp. 1,905 39,453
Ebix, Inc. (L) 7,298 103,486
Electronic Arts, Inc. (I) 116,661 4,154,298
Ellie Mae, Inc. (I) 6,743 219,822
EnerNOC, Inc. (I) 6,660 112,954
Epiq Systems, Inc. 7,718 135,528
ePlus, Inc. (I) 1,352 75,780
FactSet Research Systems, Inc. (L) 19,619 2,384,297
Fair Isaac Corp. 23,807 1,311,766
FleetMatics Group PLC (I) (L) 8,995 274,348
Fortinet, Inc. (I) 68,978 1,742,729
Gemalto NV 19,181 1,761,187
Gigamon, Inc. (I) (L) 5,671 59,375
Glu Mobile, Inc. (I) (L) 22,418 115,901
Guidance Software, Inc. (I) (L) 4,813 32,391
Guidewire Software, Inc. (I) 16,383 726,422
Gungho Online Entertainment, Inc. (L) 99,833 475,286
Imperva, Inc. (I) (L) 5,360 153,993
Infoblox, Inc. (I) 13,187 194,508
Informatica Corp. (I) 55,156 1,888,541
Interactive Intelligence Group, Inc. (I) 4,130 172,634
Intuit, Inc. 105,952 9,286,693
Jive Software, Inc. (I) 11,172 65,133
Kofax Ltd. (I) (L) 18,266 141,379
Konami Corp. 24,509 511,101
Manhattan Associates, Inc. (I) 18,291 611,285
Mavenir Systems, Inc. (I) 2,796 35,118
Mentor Graphics Corp. 71,738 1,470,270
Microsoft Corp. 3,074,007 142,510,965
MicroStrategy, Inc., Class A (I) 2,203 288,241
Model N, Inc. (I) 4,905 48,363
Monotype Imaging Holdings, Inc. 9,525 269,748
NetScout Systems, Inc. (I) 8,807 403,361
Nexon Company, Ltd. 30,953 255,268
NICE-Systems, Ltd. 14,015 572,136
Nintendo Company, Ltd. 25,739 2,803,706
Oracle Corp. 1,213,216 46,441,908
Oracle Corp. Japan 9,306 363,228
Pegasystems, Inc. 8,641 165,130
Progress Software Corp. (I) 12,521 299,377
Proofpoint, Inc. (I) 8,952 332,477
PROS Holdings, Inc. (I) 5,801 146,185
PTC, Inc. (I) 58,819 2,170,421

The accompanying notes are an integral part of the financial statements. 246


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
Software (continued)
Qlik Technologies, Inc. (I) 21,677 $ 586,146
Qualys, Inc. (I) 4,872 129,595
Rally Software Development Corp. (I) (L) 5,868 70,475
RealPage, Inc. (I) (L) 12,662 196,261
Red Hat, Inc. (I) 70,259 3,945,043
Rosetta Stone, Inc. (I) 5,553 44,702
Rovi Corp. (I) 47,499 937,868
Salesforce.com, Inc. (I) 214,775 12,356,006
SAP SE 222,801 16,079,471
Sapiens International Corp. NV (I) (L) 6,789 50,239
Seachange International, Inc. (I) 8,422 58,617
Silver Spring Networks, Inc. (I) (L) 8,760 84,534
SolarWinds, Inc. (I) 32,889 1,382,982
Solera Holdings, Inc. 34,400 1,938,784
SS&C Technologies Holdings, Inc. (I) 16,378 718,830
Symantec Corp. 257,565 6,055,353
Synchronoss Technologies, Inc. (I) 8,540 390,961
Synopsys, Inc. (I) 78,130 3,101,370
Take-Two Interactive Software, Inc. (I) 20,153 464,930
Tangoe, Inc. (I) 9,341 126,571
TeleCommunication Systems, Inc., Class A (I) 14,313 39,933
Telenav, Inc. (I) 7,449 49,908
The Sage Group PLC 265,679 1,569,289
The Ultimate Software Group, Inc. (I) 21,001 2,971,852
TIBCO Software, Inc. (I) 76,428 1,805,994
TiVo, Inc. (I) 27,818 355,931
Trend Micro, Inc. 24,264 822,144
Tyler Technologies, Inc. (I) 7,951 702,868
Varonis Systems, Inc. (I) (L) 1,314 27,725
VASCO Data Security International, Inc. (I) 7,181 134,859
Verint Systems, Inc. (I) 14,404 801,006
VirnetX Holding Corp. (I) 10,245 61,470
Vringo, Inc. (I) (L) 16,697 15,782
Xero, Ltd. (I) 15,080 253,448
Zendesk, Inc. (I) 2,796 60,366
330,173,613
Technology hardware, storage and peripherals - 3.0%
3D Systems Corp. (I) (L) 51,809 2,402,383
Apple, Inc. 2,233,892 225,064,619
Brother Industries, Ltd. 57,136 1,055,880
Canon, Inc. 274,663 8,936,410
Cray, Inc. (I) (L) 9,889 259,487
Diebold, Inc. 32,396 1,144,227
Dot Hill Systems Corp. (I) 14,247 53,854
Eastman Kodak Company (I) 4,307 94,625
Electronics For Imaging, Inc. (I) 11,250 496,913
EMC Corp. 756,866 22,145,899
FUJIFILM Holdings Corp. 112,194 3,447,395
Hewlett-Packard Company 696,285 24,697,229
Immersion Corp. (I) 7,207 61,836
Intevac, Inc. (I) 6,306 42,061
Konica Minolta, Inc. 115,886 1,252,790
Lexmark International, Inc., Class A 31,220 1,326,850
NCR Corp. (I) 84,238 2,814,392
NEC Corp. 630,846 2,180,441
NetApp, Inc. 119,144 5,118,426
Nimble Storage, Inc. (I) 2,188 56,822
Nokia OYJ 903,661 7,673,058
QLogic Corp. (I) 20,963 192,021
Quantum Corp. (I) (L) 55,160 63,986
Ricoh Company, Ltd. 171,416 1,841,576
SanDisk Corp. 83,675 8,195,966
Seagate Technology PLC 121,957 6,984,477
Seiko Epson Corp. 31,455 1,515,594
Silicon Graphics International Corp. (I) (L) 8,842 81,612
Super Micro Computer, Inc. (I) 8,326 244,951
Violin Memory, Inc. (I) 19,707 95,973
Western Digital Corp. 82,109 7,990,848
337,532,601
1,632,847,650
Materials - 4.8%
Chemicals - 2.7%
A. Schulman, Inc. 7,084 256,157
Advanced Emissions Solutions, Inc. (I) 5,261 111,901
Air Liquide SA 83,120 10,134,059
Air Products & Chemicals, Inc. 71,569 9,316,852
Air Water, Inc. 36,407 542,310
Airgas, Inc. 25,194 2,787,716
Akzo Nobel NV 58,088 3,974,451
Albemarle Corp. (L) 39,230 2,310,647
American Vanguard Corp. (L) 7,174 80,349
Arkema SA 13,688 917,224
Asahi Kasei Corp. 305,757 2,486,518
Ashland, Inc. 35,949 3,742,291
Axiall Corp. 16,833 602,790
Balchem Corp. 7,408 419,071
BASF SE 222,812 20,324,315
Cabot Corp. 32,379 1,643,882
Calgon Carbon Corp. (I) 12,869 249,401
CF Industries Holdings, Inc. 18,553 5,180,369
Chase Corp. 1,787 55,611
Chemtura Corp. (I) 21,840 509,527
Croda International PLC 32,879 1,090,312
Cytec Industries, Inc. 36,004 1,702,629
Daicel Corp. 64,985 703,285
E.I. du Pont de Nemours & Company 341,518 24,507,332
Eastman Chemical Company 55,713 4,506,625
Ecolab, Inc. 100,656 11,558,328
EMS-Chemie Holding AG 1,998 826,766
Ferro Corp. (I) 17,318 250,938
Flotek Industries, Inc. (I) 13,055 340,344
FMC Corp. 49,111 2,808,658
Fuchs Petrolub AG 17,176 649,304
FutureFuel Corp. 5,226 62,137
Givaudan SA (I) 2,236 3,564,180
Hawkins, Inc. 3,039 109,282
HB Fuller Company 12,070 479,179
Hitachi Chemical Company, Ltd. 25,370 450,625
Incitec Pivot, Ltd. 404,713 958,690
Innophos Holdings, Inc. 5,365 295,558
Innospec, Inc. 5,867 210,625
International Flavors & Fragrances, Inc. 29,975 2,874,003
Intrepid Potash, Inc. (I) (L) 13,632 210,614
Israel Chemicals, Ltd. 108,281 777,834
Johnson Matthey PLC 49,630 2,340,391
JSR Corp. 42,890 748,510
K&S AG 41,723 1,176,985
Kaneka Corp. 69,100 387,116
Kansai Paint Company, Ltd. 56,854 850,034
Koninklijke DSM NV 41,742 2,573,749
Koppers Holdings, Inc. 5,030 166,795
Kraton Performance Polymers, Inc. (I) 8,049 143,353
Kronos Worldwide, Inc. 5,072 69,892
Kuraray Company, Ltd. 83,473 980,541
Landec Corp. (I) 7,450 91,263

The accompanying notes are an integral part of the financial statements. 247


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
Chemicals (continued)
Lanxess AG 22,170 $ 1,221,596
Linde AG 44,810 8,577,057
LSB Industries, Inc. (I) 4,714 168,337
LyondellBasell Industries NV, Class A 158,673 17,241,408
Minerals Technologies, Inc. 25,625 1,581,319
Mitsubishi Chemical Holdings Corp. 328,433 1,616,773
Mitsubishi Gas & Chemicals Company, Inc. 93,740 597,661
Mitsui Chemicals, Inc. 198,590 552,726
Monsanto Company 195,731 22,021,695
NewMarket Corp. 5,395 2,055,603
Nippon Paint Company, Ltd. 42,000 947,430
Nitto Denko Corp. 37,887 2,074,547
Novozymes A/S, B Shares 58,012 2,510,504
Olin Corp. 58,305 1,472,201
OM Group, Inc. 7,799 202,384
OMNOVA Solutions, Inc. (I) 11,810 63,420
Orica, Ltd. 89,924 1,484,077
PolyOne Corp. 68,998 2,454,949
PPG Industries, Inc. 51,469 10,126,011
Praxair, Inc. 109,012 14,062,548
Quaker Chemical Corp. 3,207 229,910
Rayonier Advanced Materials, Inc. (L) 21,367 703,188
Rentech, Inc. (I) 58,054 99,272
RPM International, Inc. 66,939 3,064,467
Senomyx, Inc. (I) (L) 10,069 82,566
Sensient Technologies Corp. 36,058 1,887,636
Shin-Etsu Chemical Company, Ltd. 98,946 6,482,858
Sigma-Aldrich Corp. 44,164 6,006,746
Sika AG 521 1,801,448
Solvay SA 14,373 2,207,459
Stepan Company 4,754 210,983
Sumitomo Chemical Company, Ltd. 360,844 1,288,824
Syngenta AG 22,474 7,116,296
Taiyo Nippon Sanso Corp. 57,657 509,011
Taminco Corp. (I) 6,951 181,421
Teijin, Ltd. 227,243 549,074
The Dow Chemical Company 418,832 21,963,550
The Israel Corp., Ltd. (I) 650 365,330
The Mosaic Company 118,894 5,280,083
The Scotts Miracle-Gro Company, Class A 22,403 1,232,165
The Sherwin-Williams Company 31,055 6,800,734
Toray Industries, Inc. 355,672 2,351,339
Trecora Resources (I) 5,533 68,499
Tredegar Corp. 5,878 108,214
Tronox, Ltd., Class A 14,723 383,534
Umicore SA 26,184 1,141,567
Valspar Corp. 38,220 3,018,998
Yara International ASA 43,833 2,201,430
Zep, Inc. 5,811 81,470
302,561,636
Construction materials - 0.2%
Boral, Ltd. 188,708 820,863
Cimpor-Cimentos de Portugal SA 9 21
CRH PLC 179,255 4,071,027
Eagle Materials, Inc. 25,170 2,563,061
Fletcher Building, Ltd. 166,708 1,142,660
Headwaters, Inc. (I) 17,909 224,579
HeidelbergCement AG 34,142 2,247,251
Holcim, Ltd. (I) 55,047 4,004,761
Imerys SA 7,795 574,624
James Hardie Industries, Ltd. 107,479 1,124,473
Lafarge SA 45,239 3,255,686
Martin Marietta Materials, Inc. 23,071 2,974,775
Taiheiyo Cement Corp. 284,701 1,073,782
U.S. Concrete, Inc. (I) (L) 3,452 90,235
Vulcan Materials Company 49,234 2,965,364
27,133,162
Containers and packaging - 0.3%
AEP Industries, Inc. (I) 1,114 42,187
Amcor, Ltd. 292,423 2,896,494
AptarGroup, Inc. 32,677 1,983,494
Avery Dennison Corp. 34,447 1,538,059
Ball Corp. 51,310 3,246,384
Bemis Company, Inc. 37,397 1,421,834
Berry Plastics Group, Inc. (I) 21,406 540,287
Graphic Packaging Holding Company (I) 78,018 969,764
Greif, Inc., Class A 16,994 744,507
MeadWestvaco Corp. 63,229 2,588,595
Myers Industries, Inc. 6,635 117,041
Owens-Illinois, Inc. (I) 62,473 1,627,422
Packaging Corp. of America 49,330 3,148,241
Rexam PLC 170,516 1,355,497
Rock-Tenn Company, Class A 71,787 3,415,625
Sealed Air Corp. 79,162 2,761,171
Silgan Holdings, Inc. 21,933 1,030,851
Sonoco Products Company 51,006 2,004,026
Toyo Seikan Kaisha, Ltd. 39,229 486,324
31,917,803
Metals and mining - 1.5%
AK Steel Holding Corp. (I) (L) 32,882 263,385
Alcoa, Inc. 437,235 7,035,111
Allegheny Technologies, Inc. 41,239 1,529,967
Allied Nevada Gold Corp. (I) (L) 24,869 82,316
Alumina, Ltd. (I) 612,733 907,559
AM Castle & Company (I) (L) 4,632 39,557
Ampco-Pittsburgh Corp. 2,418 48,360
Anglo American PLC 338,987 7,560,015
Antofagasta PLC 95,549 1,111,833
ArcelorMittal 242,187 3,313,643
BHP Billiton PLC 510,583 14,123,031
BHP Billiton, Ltd. 777,447 22,914,073
Boliden AB 66,236 1,069,469
Carpenter Technology Corp. 26,676 1,204,421
Century Aluminum Company (I) 12,428 322,755
Cliffs Natural Resources, Inc. (L) 76,810 797,288
Coeur Mining, Inc. (I) 25,043 124,213
Commercial Metals Company 87,235 1,489,101
Compass Minerals International, Inc. 16,829 1,418,348
Daido Steel Company, Ltd. 68,557 273,269
Fortescue Metals Group, Ltd. 377,457 1,146,723
Freeport-McMoRan Copper & Gold, Inc. 388,145 12,672,934
Fresnillo PLC 54,244 665,291
Glencore Xstrata PLC (I) 2,578,764 14,282,068
Globe Specialty Metals, Inc. 15,517 282,254
Gold Resource Corp. (L) 10,513 53,827
Haynes International, Inc. 3,078 141,557
Hecla Mining Company (L) 80,730 200,210
Hitachi Metals, Ltd. 53,164 958,259
Horsehead Holding Corp. (I) 12,336 203,914
Iluka Resources, Ltd. 101,515 698,242
JFE Holdings, Inc. 119,133 2,379,858
Kaiser Aluminum Corp. 4,324 329,575
Kobe Steel, Ltd. 741,928 1,204,869
Maruichi Steel Tube, Ltd. 11,461 281,443
Materion Corp. 5,006 153,534

The accompanying notes are an integral part of the financial statements. 248


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
Metals and mining (continued)
Mitsubishi Materials Corp. 270,691 $ 875,849
Molycorp, Inc. (I) (L) 43,373 51,614
Newcrest Mining, Ltd. (I) 185,552 1,705,221
Newmont Mining Corp. 185,199 4,268,837
Nippon Steel & Sumitomo Metal Corp. 1,831,257 4,754,187
Noranda Aluminum Holding Corp. 11,538 52,152
Norsk Hydro ASA 325,455 1,819,553
Nucor Corp. 118,550 6,434,894
Olympic Steel, Inc. 2,539 52,227
Randgold Resources, Ltd. 21,251 1,440,645
Reliance Steel & Aluminum Company 39,092 2,673,893
Rio Tinto PLC 307,575 15,071,127
Rio Tinto, Ltd. 105,046 5,470,384
Royal Gold, Inc. 32,658 2,120,811
RTI International Metals, Inc. (I) 7,393 182,311
Schnitzer Steel Industries, Inc., Class A 6,393 153,752
Steel Dynamics, Inc. 120,356 2,721,249
Stillwater Mining Company (I) (L) 28,812 433,044
Sumitomo Metal Mining Company, Ltd. 126,772 1,784,157
SunCoke Energy, Inc. (I) 16,779 376,689
ThyssenKrupp AG (I) 109,706 2,864,157
Timkensteel Corp. 19,115 888,656
U.S. Silica Holdings, Inc. (L) 12,961 810,192
United States Steel Corp. (L) 72,767 2,850,283
Universal Stainless & Alloy Products, Inc. (I) 1,902 50,137
Voestalpine AG 27,169 1,072,878
Walter Energy, Inc. (L) 15,488 36,242
Worthington Industries, Inc. 37,782 1,406,246
Yamato Kogyo Company, Ltd. 9,086 303,281
164,006,940
Paper and forest products - 0.1%
Boise Cascade Company (I) 9,432 284,280
Clearwater Paper Corp. (I) 4,902 294,659
Deltic Timber Corp. 2,690 167,641
Domtar Corp. 32,592 1,144,957
International Paper Company 159,417 7,610,568
KapStone Paper and Packaging Corp. (I) 20,247 566,309
Louisiana-Pacific Corp. (I) (L) 104,650 1,422,194
Neenah Paper, Inc. 4,048 216,487
Oji Holdings Corp. 193,338 731,939
PH Glatfelter Company 10,397 228,214
Resolute Forest Products, Inc. (I) 15,792 246,987
Schweitzer-Mauduit International, Inc. 7,321 302,431
Stora Enso OYJ, Series R 133,177 1,104,916
UPM-Kymmene OYJ 128,138 1,821,517
Wausau Paper Corp. 10,558 83,725
16,226,824
541,846,365
Telecommunication services - 2.8%
Diversified telecommunication services - 2.3%
8x8, Inc. (I) 21,802 145,637
AT&T, Inc. 1,934,765 68,181,119
Atlantic Tele-Network, Inc. 2,297 123,808
Belgacom SA 36,830 1,282,280
Bezeq The
       Israeli Telecommunication Corp., Ltd. 463,907 800,807
BT Group PLC 1,910,943 11,721,739
CenturyLink, Inc. 212,852 8,703,518
Cincinnati Bell, Inc. (I) 50,492 170,158
Cogent Communications Group, Inc. 11,343 381,238
Consolidated
       Communications Holdings, Inc. (L) 9,467 237,148
Deutsche Telekom AG 752,418 11,389,015
Elisa OYJ, Class A 34,936 925,504
Enventis Corp. 3,609 65,612
FairPoint Communications, Inc. (I) 5,234 79,400
Frontier Communications Corp. (L) 368,746 2,400,536
General Communication, Inc., Class A (I) 8,768 95,659
Globalstar, Inc. (I) (L) 66,945 245,019
Hawaiian Telcom Holdco, Inc. (I) (L) 2,430 62,427
HKT Trust and HKT, Ltd. 641,421 773,047
IDT Corp., Class B 4,413 70,873
Iliad SA 6,307 1,330,464
inContact, Inc. (I) 14,778 128,495
Inmarsat PLC 103,220 1,170,808
Inteliquent, Inc. 7,931 98,741
Intelsat SA (I) 6,839 117,220
Iridium Communications, Inc. (I) (L) 19,645 173,858
Koninklijke KPN NV (I) 775,728 2,483,590
Lumos Networks Corp. 5,005 81,331
magicJack VocalTec, Ltd. (I) (L) 4,554 44,857
Nippon Telegraph & Telephone Corp. 90,357 5,603,425
Orange SA 446,937 6,669,466
ORBCOMM, Inc. (I) 10,744 61,778
PCCW, Ltd. 975,317 613,420
Premiere Global Services, Inc. (I) 11,929 142,790
Singapore Telecommunications, Ltd. 1,940,854 5,789,604
Spark New Zealand, Ltd. (L) 440,904 1,021,794
Swisscom AG 5,641 3,197,503
TDC A/S 196,774 1,490,706
Telecom Italia RSP 1,460,460 1,290,929
Telecom Italia SpA (I) 2,436,996 2,787,380
Telefonica Deutschland Holding AG (I) 67,811 353,655
Telefonica SA 990,234 15,293,368
Telekom Austria AG 26,934 242,545
Telenor ASA 183,640 4,030,435
TeliaSonera AB 577,007 3,979,126
Telstra Corp., Ltd. 1,055,297 4,896,345
TPG Telecom, Ltd. 65,752 393,845
tw telecom, Inc. (I) 69,227 2,880,535
Verizon Communications, Inc. 1,546,457 77,307,385
Vivendi SA (I) 293,378 7,084,429
Vonage Holdings Corp. (I) 41,082 134,749
Windstream Holdings, Inc. (L) 226,753 2,444,397
Ziggo NV (I) 36,300 1,699,973
262,893,490
Wireless telecommunication services - 0.5%
Boingo Wireless, Inc. (I) 6,512 46,431
KDDI Corp. 140,631 8,459,831
Leap Wireless International, Inc. (I) 16,665 41,996
Millicom International Cellular SA 16,017 1,282,874
NTELOS Holdings Corp. 4,715 50,168
NTT DOCOMO, Inc. 368,276 6,167,967
RingCentral, Inc., Class A (I) (L) 6,887 87,534
Shenandoah Telecommunications Company 6,031 149,629
SoftBank Corp. 232,187 16,217,997
Spok Holdings, Inc. 5,872 76,395
StarHub, Ltd. 146,811 473,845
Tele2 AB, B Shares 77,223 929,493
Telephone & Data Systems, Inc. 49,622 1,188,943

The accompanying notes are an integral part of the financial statements. 249


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
Wireless telecommunication services (continued)
Vodafone Group PLC 6,395,576 $ 21,074,848
56,247,951
319,141,441
Utilities - 3.3%
Electric utilities - 1.6%
ALLETE, Inc. 10,167 451,313
American Electric Power Company, Inc. 182,634 9,535,321
AusNet Services 407,893 486,554
Cheung Kong Infrastructure Holdings, Ltd. 141,843 994,959
Chubu Electric Power Company, Inc. 156,129 1,792,426
Cleco Corp. 44,655 2,150,138
CLP Holdings, Ltd. 459,334 3,686,710
Contact Energy, Ltd. 88,848 414,786
Duke Energy Corp. 263,990 19,738,532
Edison International 121,712 6,806,135
EDP - Energias de Portugal SA 560,351 2,443,496
El Paso Electric Company 9,921 362,613
Electricite de France SA 58,591 1,922,179
Enel SpA 1,588,480 8,403,242
Entergy Corp. 66,754 5,162,087
Exelon Corp. 320,685 10,932,152
FirstEnergy Corp. 156,303 5,247,092
Fortum OYJ 107,580 2,623,009
Great Plains Energy, Inc. 77,257 1,867,302
Hawaiian Electric Industries, Inc. (L) 51,425 1,365,334
Hokuriku Electric Power Company 40,992 538,504
Iberdrola SA 1,234,168 8,821,704
IDACORP, Inc. 37,122 1,990,110
Kyushu Electric Power Company, Inc. (I) 103,418 1,114,725
MGE Energy, Inc. 8,458 315,145
NextEra Energy, Inc. 162,910 15,293,991
Northeast Utilities 117,721 5,215,040
NRG Yield, Inc., Class A (L) 5,810 273,361
OGE Energy Corp. 99,895 3,707,103
Otter Tail Corp. 8,910 237,630
Pepco Holdings, Inc. 94,566 2,530,586
Pinnacle West Capital Corp. 41,666 2,276,630
PNM Resources, Inc. 59,220 1,475,170
Portland General Electric Company 18,487 593,802
Power Assets Holdings, Ltd. 336,236 2,976,225
PPL Corp. 248,236 8,152,070
Red Electrica Corp. SA 26,206 2,268,328
Shikoku Electric Power Company, Inc. (I) 43,025 552,036
SSE PLC 236,730 5,927,801
Terna Rete Elettrica Nazionale SpA 365,271 1,833,503
The Chugoku Electric Power Company, Inc. 71,936 922,474
The Empire District Electric Company 10,317 249,156
The Kansai Electric Power Company, Ltd. (I) 170,624 1,612,238
The Southern Company 334,319 14,593,024
Tohoku Electric Power Company, Inc. 109,665 1,246,384
Tokyo Electric Power Company, Inc. (I) 350,440 1,226,995
UIL Holdings Corp. 13,619 482,113
Unitil Corp. 4,151 129,055
Westar Energy, Inc. 65,030 2,218,824
Xcel Energy, Inc. 189,299 5,754,690
180,913,797
Gas utilities - 0.3%
AGL Resources, Inc. 44,957 2,308,092
APA Group, Ltd. 202,679 1,318,571
Atmos Energy Corp. 50,313 2,399,930
Chesapeake Utilities Corp. 3,623 150,913
Enagas SA 49,140 1,580,293
Gas Natural SDG SA 84,855 2,496,152
Hong Kong & China Gas Company, Ltd. 1,529,484 3,314,872
National Fuel Gas Company 42,175 2,951,828
New Jersey Resources Corp. 10,092 509,747
Northwest Natural Gas Company (L) 6,740 284,765
ONE Gas, Inc. 38,483 1,318,043
Osaka Gas Company, Ltd. 454,377 1,824,543
Piedmont Natural Gas Company, Inc. (L) 18,540 621,646
Questar Corp. 87,881 1,958,867
Snam SpA 491,632 2,714,696
South Jersey Industries, Inc. 7,961 424,799
Southwest Gas Corp. 11,051 536,858
The Laclede Group, Inc. 10,246 475,414
Toho Gas Company, Ltd. 97,924 551,388
Tokyo Gas Company, Ltd. 579,484 3,256,193
UGI Corp. 86,436 2,946,603
WGL Holdings, Inc. 38,419 1,618,208
35,562,421
Independent power and renewable electricity producers - 0.1%
AES Corp. 248,627 3,525,531
Atlantic Power Corp. (L) 28,507 67,847
Dynegy, Inc. (I) 24,190 698,123
EDP Renovaveis SA 48 333
Electric Power Development Company, Ltd. 28,248 923,013
Enel Green Power SpA 424,146 1,082,603
NRG Energy, Inc. 124,848 3,805,367
Ormat Technologies, Inc. (L) 4,279 112,409
Pattern Energy Group, Inc. (L) 9,528 294,606
10,509,832
Multi-utilities - 1.2%
A2A SpA 39 39
AGL Energy, Ltd. 162,242 1,921,911
Alliant Energy Corp. 55,622 3,082,015
Ameren Corp. 89,749 3,440,079
Avista Corp. 14,391 439,357
Black Hills Corp. 33,057 1,582,769
CenterPoint Energy, Inc. 159,197 3,895,551
Centrica PLC 1,218,092 6,070,904
CMS Energy Corp. 101,555 3,012,121
Consolidated Edison, Inc. (L) 109,282 6,191,918
Dominion Resources, Inc. 217,568 15,031,773
DTE Energy Company 65,893 5,013,139
E.ON SE 482,923 8,818,980
GDF Suez 349,334 8,761,452
Integrys Energy Group, Inc. 29,355 1,902,791
MDU Resources Group, Inc. 97,245 2,704,383
National Grid PLC 901,711 12,962,002
NiSource, Inc. 116,987 4,794,127
NorthWestern Corp. 9,432 427,836
PG&E Corp. 175,209 7,891,413
Public Service Enterprise Group, Inc. 189,014 7,038,881
RWE AG 118,576 4,615,040
SCANA Corp. 53,393 2,648,827
Sempra Energy 86,581 9,123,906
Suez Environnement Company 67,972 1,149,700
TECO Energy, Inc. 88,543 1,538,877
Vectren Corp. 41,366 1,650,503
Veolia Environnement SA 103,307 1,821,619
Wisconsin Energy Corp. (L) 83,526 3,591,618
131,123,531

The accompanying notes are an integral part of the financial statements. 250


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
Water utilities - 0.1%
American States Water Company 9,246 $ 281,263
Aqua America, Inc. 88,838 2,090,358
California Water Service Group 11,450 256,938
Connecticut Water Service, Inc. 3,519 114,368
Middlesex Water Company 4,325 84,770
Severn Trent PLC 57,885 1,758,682
SJW Corp. 3,847 103,369
United Utilities Group PLC 165,160 2,157,453
York Water Company 4,329 86,580
6,933,781
365,043,362
TOTAL COMMON STOCKS (Cost $8,671,262,971) $ 10,790,072,382
 
PREFERRED SECURITIES - 0.1%
Consumer discretionary - 0.1%
Bayerische Motoren Werke AG 13,140 1,065,755
Porsche Automobil Holding SE 37,096 2,959,249
Volkswagen AG 39,215 8,098,212
12,123,216
Consumer staples - 0.0%
Henkel AG & Company KGaA, 0.800% 42,828 4,263,626
TOTAL PREFERRED SECURITIES (Cost $14,822,277) $ 16,386,842
 
RIGHTS - 0.0%
Banco Bilbao Vizcaya Argentaria SA
       (Expiration Date: 10/17/2014) (I) (N) 1,426,480 142,336
Banco Popular Espanol SA (Expiration
       Date: 10/27/2014) (I) (N) 434,387 6,035
Beni Stabili Spa (Expiration Date: 10/17/14;
       Strike Price: EUR 0.424) (I) 44 1
Community Health Systems, Inc. (Expiration
       Date: 01/27/2016) (I) (N) 174,338 5,230
Cubist Pharmaceuticals, Inc. (Expiration Date:
       12/31/2016; Strike Price: $10.75) (I) 13,420 1,476
Fiat SpA (Expiration Date: 10/06/2014; Strike
       Price: EUR 7.73) (I) 212,029 0
Groupe Fnac (Expiration
       Date: 05/15/2015) (I) (N) 13,898 58,805
TOTAL RIGHTS (Cost $238,864) $ 213,883
 
WARRANTS - 0.0%
Magnum Hunter Resources Corp. (Expiration
       Date: 04/15/2016; Strike Price: $8.50) (I) 4,622 2,912
Sun Hung Kai Properties, Ltd. (Expiration
       Date: 04/22/2016; Strike Price:
       HKD 98.60) (I) 32,255 53,919
TOTAL WARRANTS (Cost $0) $ 56,831
 
SECURITIES LENDING COLLATERAL - 1.3%
John Hancock Collateral
       Investment Trust, 0.1178% (W) (Y) 14,976,839 149,874,730
TOTAL SECURITIES LENDING
COLLATERAL (Cost $149,868,327) $ 149,874,730
 
SHORT-TERM INVESTMENTS - 3.1%
Repurchase agreement - 3.1%
Repurchase Agreement with State Street Corp.
       dated 09/30/2014 at 0.000% to be
       repurchased at $344,258,000 on 10/01/2014,
       collateralized by $177,365,000
       U.S. Treasury Bonds, 3.750% due
       11/15/2043(valued at $198,648,800,
       including interest) and collateralized by
       $153,660,000 U.S. Treasury Notes, 2.125%
       due 09/30/2021(valued at $152,507,550,
       including interest) (I) $ 344,258,000 $ 344,258,000
TOTAL SHORT-TERM INVESTMENTS (Cost $344,258,000) $ 344,258,000
Total Investments (Strategic Equity Allocation Trust)
       (Cost $9,180,450,439) - 100.8% $ 11,300,862,668
Other assets and liabilities, net - (0.8%) (93,355,967 )
TOTAL NET ASSETS - 100.0% $ 11,207,506,701

Strategic Income Opportunities Trust

Shares or
Principal
Amount		       Value
FOREIGN GOVERNMENT  
OBLIGATIONS - 21.1%
Australia - 2.3%
New South Wales Treasury Corp.
       6.000%, 05/01/2020 AUD 3,695,000 $ 3,668,113
Queensland Treasury Corp.
       4.000%, 06/21/2019 (S) 1,800,000 1,625,817
       6.000%, 10/21/2015 to 04/21/2016 7,074,000 6,460,570
11,754,500
Bermuda - 0.3%
Government of Bermuda
       4.854%, 02/06/2024 (S) $ 1,730,000 1,786,225
Brazil - 0.7%
Federative Republic of Brazil
       10.000%, 01/01/2021 to 01/01/2023 BRL 5,445,000 2,049,888
       10.250%, 01/10/2028 1,499,000 606,275
       12.500%, 01/05/2016 2,410,000 996,885
3,653,048
Canada - 1.2%
Export Development Canada
       3.250%, 08/08/2017 AUD 740,000 651,204
Province of Ontario
       6.250%, 06/16/2015 NZD 5,777,000 4,578,134
       6.250%, 09/29/2020 AUD 725,000 713,054
5,942,392
Malaysia - 2.1%
Government of Malaysia
       3.741%, 02/27/2015 MYR 13,400,000 4,090,829
       3.835%, 08/12/2015 12,850,000 3,933,095
       4.262%, 09/15/2016 7,900,000 2,449,349
10,473,273
Mexico - 1.2%
Government of Mexico
       5.000%, 06/15/2017 MXN 29,054,100 2,196,345
       6.000%, 06/18/2015 23,000,000 1,746,808

The accompanying notes are an integral part of the financial statements. 251


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Strategic Income Opportunities Trust (continued)

Shares or
Principal
Amount		       Value
FOREIGN GOVERNMENT
OBLIGATIONS (continued)
Mexico (continued)
Government of Mexico (continued)
       8.000%, 12/07/2023 MXN 23,850,000 $ 2,011,265
5,954,418
New Zealand - 2.8%
Dominion of New Zealand
       5.000%, 03/15/2019 NZD 2,000,000 1,625,422
       6.000%, 04/15/2015 to 05/15/2021 15,110,000 12,650,069
14,275,491
Norway - 1.3%
Government of Norway
       4.500%, 05/22/2019 NOK 16,492,000 2,882,144
       5.000%, 05/15/2015 24,128,000 3,839,975
6,722,119
Peru - 0.2%
Republic of Peru
       7.350%, 07/21/2025 $ 955,000 1,243,888
Philippines - 2.0%
Republic of Philippines
       4.950%, 01/15/2021 PHP 33,000,000 767,506
       5.875%, 12/16/2020 to 03/01/2032 157,303,440 3,850,494
       6.250%, 01/14/2036 43,000,000 1,026,433
       6.500%, 04/28/2021 106,400,000 2,714,352
       7.375%, 03/03/2021 59,600,000 1,589,146
9,947,931
Singapore - 1.4%
Republic of Singapore
       1.375%, 10/01/2014 SGD 1,000,000 783,883
       2.375%, 04/01/2017 2,800,000 2,287,163
       2.875%, 07/01/2015 3,000,000 2,395,156
       3.250%, 09/01/2020 2,260,000 1,903,917
7,370,119
South Korea - 2.2%
Korea Treasury Bond Coupon Strips
       3.286%, 09/10/2018 KRW 83,030,000 71,473
       3.287%, 03/10/2018 83,030,000 72,501
       3.296%, 03/10/2017 83,030,000 74,430
       3.297%, 09/10/2017 83,030,000 73,488
       3.309%, 09/10/2016 83,030,000 75,352
       3.315%, 03/10/2016 83,030,000 76,228
       3.326%, 09/10/2015 83,030,000 77,085
       3.327%, 03/10/2015 83,030,000 77,941
Korea Treasury Bond Principal Strips
       3.286%, 09/10/2018 2,888,000,000 2,486,012
Republic of Korea
       3.250%, 06/10/2015 3,500,000,000 3,340,139
       3.500%, 03/10/2017 2,000,000,000 1,948,695
       4.000%, 03/10/2016 2,750,000,000 2,670,532
       5.750%, 09/10/2018 2,000,000 2,127
11,046,003
Sweden - 1.4%
Kingdom of Sweden
       3.000%, 07/12/2016 SEK 9,955,000 1,448,386
       3.750%, 08/12/2017 13,015,000 1,979,485
       5.000%, 12/01/2020 21,300,000 3,670,590
7,098,461
Thailand - 2.0%
Bank of Thailand
       3.200%, 10/22/2014 THB 139,000,000 4,289,246
Kingdom of Thailand, Bond
       3.250%, 06/16/2017 187,500,000 5,893,728
10,182,974
TOTAL FOREIGN GOVERNMENT
OBLIGATIONS (Cost $112,160,391) $ 107,450,842
 
CORPORATE BONDS - 40.7%
Consumer discretionary - 7.4%
American Axle & Manufacturing, Inc.
       6.625%, 10/15/2022 $ 1,195,000 1,257,710
Arcos Dorados Holdings, Inc.
       10.250%, 07/13/2016 (S) BRL 1,896,000 724,241
Cablevision Systems Corp.
       8.000%, 04/15/2020 $ 1,150,000 1,265,000
CBS Corp.
       3.700%, 08/15/2024 1,565,000 1,545,940
CCO Holdings LLC
       5.750%, 01/15/2024 1,690,000 1,683,663
       7.000%, 01/15/2019 1,605,000 1,667,194
Chrysler Group LLC
       8.250%, 06/15/2021 370,000 403,300
Cinemark USA, Inc.
       4.875%, 06/01/2023 1,435,000 1,366,838
       5.125%, 12/15/2022 750,000 736,875
       7.375%, 06/15/2021 560,000 599,200
DISH DBS Corp.
       5.000%, 03/15/2023 1,130,000 1,084,094
       7.875%, 09/01/2019 2,300,000 2,599,000
Ferrellgas LP
       6.750%, 01/15/2022 1,204,000 1,173,900
General Motors Financial Company, Inc.
       3.250%, 05/15/2018 630,000 636,300
       4.375%, 09/25/2021 1,260,000 1,288,350
L Brands, Inc.
       5.625%, 10/15/2023 1,655,000 1,725,338
Lamar Media Corp.
       5.000%, 05/01/2023 625,000 601,563
Macy’s Retail Holdings, Inc.
       7.875%, 08/15/2036 484,000 532,851
MGM Resorts International
       8.625%, 02/01/2019 420,000 473,592
New Look Bondco I PLC
       8.750%, 05/14/2018 (S) GBP 570,000 963,328
Numericable Group SA
       6.250%, 05/15/2024 (S) $ 1,230,000 1,226,925
PVH Corp.
       4.500%, 12/15/2022 1,265,000 1,236,538
QVC, Inc.
       4.450%, 02/15/2025 (S) 1,575,000 1,541,130
       5.950%, 03/15/2043 1,205,000 1,276,342
Sirius XM Radio, Inc.
       4.625%, 05/15/2023 (S) 1,130,000 1,050,900
       5.250%, 08/15/2022 (S) 1,420,000 1,480,350
       5.875%, 10/01/2020 (S) 1,335,000 1,351,688
Standard Pacific Corp.
       8.375%, 05/15/2018 to 01/15/2021 545,000 620,975
The Goodyear Tire & Rubber Company
       7.000%, 05/15/2022 1,980,000 2,121,075
       8.750%, 08/15/2020 320,000 376,000

The accompanying notes are an integral part of the financial statements. 252


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Strategic Income Opportunities Trust (continued)

Shares or
Principal
Amount		       Value
CORPORATE BONDS (continued)
Consumer discretionary (continued)
The Men’s Wearhouse, Inc.
       7.000%, 07/01/2022 (S) $ 1,610,000 $ 1,626,100
Univision Communications, Inc.
       6.750%, 09/15/2022 (S) 1,167,000 1,248,690
37,484,990
Consumer staples - 2.8%
Alliance One International, Inc.
       9.875%, 07/15/2021 2,430,000 2,369,250
Anheuser-Busch InBev Worldwide, Inc.
       9.750%, 11/17/2015 BRL 2,111,000 853,800
Aramark Services, Inc.
       5.750%, 03/15/2020 $ 310,000 317,750
B&G Foods, Inc.
       4.625%, 06/01/2021 1,935,000 1,843,088
Cott Beverages, Inc.
       5.375%, 07/01/2022 (S) 1,600,000 1,548,000
Harbinger Group, Inc.
       7.875%, 07/15/2019 2,125,000 2,263,125
HJ Heinz Company
       4.250%, 10/15/2020 1,740,000 1,729,125
JBS Investments GmbH
       7.750%, 10/28/2020 (S) 425,000 451,563
Post Holdings, Inc.
       6.000%, 12/15/2022 (S) 675,000 619,313
       6.750%, 12/01/2021 (S) 1,665,000 1,577,588
Smithfield Foods, Inc.
       5.875%, 08/01/2021 (S) 515,000 521,438
TreeHouse Foods, Inc.
       4.875%, 03/15/2022 420,000 413,700
14,507,740
Energy - 4.4%
Arch Coal, Inc.
       7.250%, 06/15/2021 976,000 470,920
Baytex Energy Corp.
       5.625%, 06/01/2024 (S) 1,250,000 1,200,000
Bill Barrett Corp.
       7.000%, 10/15/2022 1,020,000 1,012,350
California Resources Corp.
       6.000%, 11/15/2024 (S) 1,035,000 1,063,463
DCP Midstream LLC (5.850% to
       05/21/2023, then 3 month
       LIBOR + 3.850%)
       05/21/2043 (S) 1,255,000 1,239,313
Ecopetrol SA
       4.250%, 09/18/2018 185,000 196,100
       5.875%, 09/18/2023 545,000 601,544
EP Energy LLC
       7.750%, 09/01/2022 690,000 729,675
       9.375%, 05/01/2020 3,777,000 4,116,930
Inkia Energy, Ltd.
       8.375%, 04/04/2021 (S) 1,575,000 1,726,988
MarkWest Energy Partners LP
       6.500%, 08/15/2021 322,000 339,710
MEG Energy Corp.
       6.375%, 01/30/2023 (S) 1,160,000 1,174,500
Petrobras Global Finance BV
       4.375%, 05/20/2023 2,050,000 1,920,912
Petroleos Mexicanos
       7.650%, 11/24/2021 (S) MXN 15,351,000 1,212,327
Sabine Pass Liquefaction LLC
       5.625%, 02/01/2021 to 04/15/2023 $ 1,790,000 1,813,500
Sanchez Energy Corp.
       6.125%, 01/15/2023 (S) 1,190,000 1,179,766
SandRidge Energy, Inc.
       7.500%, 02/15/2023 845,000 820,706
The Williams Companies, Inc.
       4.550%, 06/24/2024 1,410,000 1,395,266
22,213,970
Financials - 13.7%
American International Group, Inc.
       (8.175% to 05/15/2038, then 3 month
       LIBOR + 4.195%)
       05/15/2058 2,995,000 4,035,763
American Tower Corp.
       7.000%, 10/15/2017 529,000 602,255
Asian Development Bank
       3.250%, 07/20/2017 NZD 1,480,000 1,122,178
Bancolombia SA
       5.950%, 06/03/2021 $ 850,000 932,875
Bank of America Corp.
       0.994%, 09/15/2026 (P) 2,515,000 2,260,975
Bank of America Corp. (8.000% to
       01/30/2018, then 3 month
       LIBOR + 3.630%)
       01/30/2018 (Q) 850,000 916,411
BNC Bancorp
       5.500%, 10/01/2024 (P) 500,000 496,187
CapitaMalls Asia Treasury, Ltd.
       3.950%, 08/24/2017 SGD 3,250,000 2,675,318
CBRE Services, Inc.
       5.000%, 03/15/2023 $ 990,000 980,001
Citigroup, Inc.
       6.250%, 06/29/2017 NZD 1,245,000 1,003,940
Citigroup, Inc. (5.900% to 02/15/2023,
       then 3 month LIBOR + 4.230%)
       02/15/2023 (Q) $ 745,000 724,513
Citigroup, Inc. (5.950% to 01/30/2023,
       then 3 month LIBOR + 4.069%)
       01/30/2023 (Q) 1,605,000 1,604,499
Corrections Corp. of America
       4.125%, 04/01/2020 963,000 943,740
Credit Acceptance Corp.
       6.125%, 02/15/2021 (S) 860,000 875,050
Crown Castle Towers LLC
       4.883%, 08/15/2020 (S) 1,104,000 1,217,101
Eagle Bancorp, Inc.
       5.750%, 09/01/2024 500,000 508,750
European Investment Bank
       4.250%, 02/04/2015 NOK 6,400,000 1,004,822
Fifth Third Bancorp (5.100% to
       06/30/2023, then 3 month
       LIBOR + 3.033%)
       06/30/2023 (Q) $ 1,820,000 1,715,350
General Electric Capital Australia
       Funding Pty, Ltd.
       7.000%, 10/08/2015 AUD 2,800,000 2,546,172
General Electric Capital Corp.
       4.250%, 01/17/2018 NZD 715,000 551,060
       4.875%, 04/05/2016 SEK 10,000,000 1,469,795
       6.250%, 09/29/2020 GBP 265,000 510,194
General Electric Capital Corp. (7.125%
       until 06/15/2022, then 3 month
       LIBOR + 5.296%)
       06/15/2022 (Q) $ 1,600,000 1,852,000

The accompanying notes are an integral part of the financial statements. 253


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Strategic Income Opportunities Trust (continued)

Shares or
Principal
Amount		       Value
CORPORATE BONDS (continued)
Financials (continued)
General Electric Capital Corp., Series A
       7.625%, 12/10/2014 NZD 1,490,000 $ 1,171,005
Hongkong Land Treasury Services
       (Singapore) Pte, Ltd.
       3.860%, 12/29/2017 SGD 250,000 203,304
Host Hotels & Resorts LP
       5.250%, 03/15/2022 $ 620,000 681,746
Independent Bank Group, Inc.
       5.875%, 08/01/2024 690,000 695,175
Inter-American Development Bank
       3.750%, 10/09/2018 AUD 1,055,000 938,045
       6.500%, 08/20/2019 2,705,000 2,688,661
International Bank for Reconstruction
       & Development
       1.375%, 06/23/2019 SEK 8,600,000 1,217,062
       2.125%, 05/29/2017 NOK 1,560,000 245,458
       3.375%, 08/13/2017 NZD 620,000 471,288
       3.750%, 01/23/2019 AUD 1,000,000 888,139
       4.500%, 08/16/2016 NZD 1,455,000 1,143,300
       4.625%, 02/26/2019 1,425,000 1,116,693
International Finance Corp.
       3.875%, 02/26/2018 620,000 475,554
       10.000%, 06/12/2017 BRL 1,745,000 706,697
Iron Mountain, Inc.
       5.750%, 08/15/2024 $ 1,275,000 1,251,094
JPMorgan Chase & Company
       4.250%, 11/02/2018 NZD 1,485,000 1,134,778
KFW
       4.000%, 12/15/2014 NOK 10,010,000 1,565,675
       5.750%, 05/13/2015 AUD 1,600,000 1,426,645
       6.000%, 08/20/2020 2,925,000 2,870,408
MetLife, Inc.
       6.400%, 12/15/2036 $ 755,000 841,825
National Australia Bank, Ltd.
       6.000%, 02/15/2017 AUD 1,805,000 1,676,345
Nationstar Mortgage LLC
       9.625%, 05/01/2019 $ 1,039,000 1,135,108
Oversea-Chinese Banking Corp., Ltd.
       (4.000% to 10/15/2019, then 5 year
       U.S. Swap Rate + 2.203%)
       10/15/2024 (S) 1,175,000 1,187,112
Prudential Financial, Inc. (5.875% to
       09/01/2022, then 3 month
       LIBOR + 4.175%)
       09/15/2042 645,000 683,700
Realogy Group LLC
       7.875%, 02/15/2019 (S) 2,205,000 2,304,225
Regions Financial Corp.
       7.375%, 12/10/2037 385,000 487,887
Stifel Financial Corp.
       4.250%, 07/18/2024 2,505,000 2,520,007
Synovus Financial Corp.
       5.125%, 06/15/2017 1,570,000 1,605,325
       7.875%, 02/15/2019 725,000 812,000
Temasek Financial I, Ltd.
       3.265%, 02/19/2020 SGD 1,250,000 1,027,922
Trust F/1401
       5.250%, 12/15/2024 (S) $ 995,000 1,034,800
Westpac Banking Corp.
       5.000%, 10/21/2019 GBP 375,000 679,683
       7.250%, 02/11/2020 AUD 700,000 705,744
Yanlord Land Group, Ltd.
       10.625%, 03/29/2018 (S) $ 450,000 486,000
Zions Bancorporation (5.800% to
       06/15/2023, then 3 month
       LIBOR + 3.800%)
       06/15/2023 (Q) 1,050,000 1,002,750
69,630,109
Health care - 4.2%
Community Health Systems, Inc.
       6.875%, 02/01/2022 (S) 1,540,000 1,605,450
       7.125%, 07/15/2020 315,000 333,506
Endo Finance LLC
       5.750%, 01/15/2022 (S) 830,000 819,625
       7.250%, 01/15/2022 (S) 805,000 847,263
Forest Laboratories, Inc.
       4.875%, 02/15/2021 (S) 1,875,000 2,000,608
       5.000%, 12/15/2021 (S) 1,775,000 1,897,686
Grifols Worldwide Operations, Ltd.
       5.250%, 04/01/2022 (S) 1,600,000 1,580,000
HCA Holdings, Inc.
       6.250%, 02/15/2021 1,897,000 1,987,108
HCA, Inc.
       5.000%, 03/15/2024 1,995,000 1,962,581
       7.500%, 02/15/2022 1,165,000 1,310,625
       8.000%, 10/01/2018 280,000 318,500
Lifepoint Hospitals, Inc.
       5.500%, 12/01/2021 3,760,000 3,807,000
Tenet Healthcare Corp.
       4.375%, 10/01/2021 1,450,000 1,388,375
Valeant Pharmaceuticals International, Inc.
       7.500%, 07/15/2021 (S) 865,000 925,550
WellCare Health Plans, Inc.
       5.750%, 11/15/2020 553,000 562,678
21,346,555
Industrials - 1.6%
Air Canada
       6.750%, 10/01/2019 (S) 345,000 364,838
Delta Air Lines 2007-1 Class A Pass
       Through Trust
       6.821%, 08/10/2022 1,122,838 1,308,107
Navios Maritime Holdings, Inc.
       7.375%, 01/15/2022 (S) 2,335,000 2,218,250
       8.125%, 02/15/2019 201,000 189,443
Odebrecht Finance, Ltd.
       7.125%, 06/26/2042 (S) 590,000 631,890
       7.500%, 09/14/2015 (Q)(S) 1,195,000 1,206,950
TAM Capital 3, Inc.
       8.375%, 06/03/2021 (S) 775,000 828,281
US Airways 2012-1 Class A Pass
       Through Trust
       5.900%, 10/01/2024 278,130 311,505
US Airways 2012-1 Class B Pass
       Through Trust
       8.000%, 10/01/2019 833,963 934,039
7,993,303
Information technology - 0.5%
First Data Corp.
       8.875%, 08/15/2020 (S) 110,000 117,975
IBM Corp.
       2.750%, 12/21/2020 GBP 700,000 1,148,082
Micron Technology, Inc.
       5.875%, 02/15/2022 (S) $ 1,360,000 1,414,400
2,680,457

The accompanying notes are an integral part of the financial statements. 254


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Strategic Income Opportunities Trust (continued)

Shares or
Principal
Amount		       Value
CORPORATE BONDS (continued)
Materials - 2.5%
ArcelorMittal
       7.250%, 03/01/2041 $ 1,145,000 $ 1,156,450
Ball Corp.
       4.000%, 11/15/2023 1,720,000 1,599,600
       6.750%, 09/15/2020 1,175,000 1,230,813
Cemex Finance LLC
       9.375%, 10/12/2022 (S) 1,055,000 1,189,513
Crown Americas LLC
       4.500%, 01/15/2023 1,310,000 1,237,950
FMG Resources August 2006 Pty, Ltd.
       6.875%, 04/01/2022 (S) 1,715,000 1,745,013
Owens-Brockway Glass Container, Inc.
       7.375%, 05/15/2016 435,000 465,450
Sealed Air Corp.
       6.500%, 12/01/2020 (S) 1,570,000 1,674,013
Vale Overseas, Ltd.
       4.625%, 09/15/2020 310,000 325,940
Votorantim Cimentos SA
       7.250%, 04/05/2041 (S) 1,115,000 1,148,450
WR Grace & Co-Conn
       5.125%, 10/01/2021 (S) 1,040,000 1,058,200
12,831,392
Telecommunication services - 1.6%
Frontier Communications Corp.
       7.125%, 01/15/2023 1,330,000 1,356,600
       9.250%, 07/01/2021 150,000 171,375
GTP Acquisition Partners I LLC
       7.628%, 06/15/2016 (S) 625,000 659,411
SBA Telecommunications, Inc.
       5.750%, 07/15/2020 505,000 513,838
SBA Tower Trust
       5.101%, 04/17/2017 (S) 616,000 651,737
SoftBank Corp.
       4.500%, 04/15/2020 (S) 850,000 847,875
T-Mobile USA, Inc.
       6.125%, 01/15/2022 1,930,000 1,939,650
       6.250%, 04/01/2021 718,000 725,180
       6.625%, 04/01/2023 445,000 455,013
       6.836%, 04/28/2023 435,000 446,963
Verizon Communications, Inc.
       1.984%, 09/14/2018 (P) 520,000 547,778
8,315,420
Utilities - 2.0%
Abengoa Transmision Sur SA
       6.875%, 04/30/2043 (S) 650,000 721,500
Calpine Corp.
       5.750%, 01/15/2025 1,885,000 1,828,450
       5.875%, 01/15/2024 (S) 176,000 182,160
       6.000%, 01/15/2022 (S) 1,451,000 1,527,178
NiSource Finance Corp.
       4.800%, 02/15/2044 470,000 478,170
       5.650%, 02/01/2045 855,000 971,904
NRG Energy, Inc.
       6.250%, 05/01/2024 (S) 900,000 902,250
       6.625%, 03/15/2023 1,065,000 1,099,613
NRG Yield Operating LLC
       5.375%, 08/15/2024 (S) 670,000 673,350
RJS Power Holdings LLC
       5.125%, 07/15/2019 (S) 1,775,000 1,757,250
Southern Gas Networks PLC
       4.875%, 12/21/2020 GBP 80,000 143,147
10,284,972
TOTAL CORPORATE BONDS (Cost $205,983,325) $ 207,288,908
 
CAPITAL PREFERRED SECURITIES - 0.4%
Financials - 0.4%
JPMorgan Chase Capital XXIII
       1.234%, 05/15/2047 (P) $ 1,040,000 842,400
M&T Capital Trust III
       9.250%, 02/01/2027 95,000 96,149
USB Capital IX
       3.500%, 11/17/2014 (P)(Q) 1,456,000 1,237,600
2,176,149
TOTAL CAPITAL PREFERRED
SECURITIES (Cost $2,011,205) $ 2,176,149
 
CONVERTIBLE BONDS - 1.3%
Consumer discretionary - 0.1%
Liberty Interactive LLC
       0.750%, 03/30/2043 470,000 622,456
Consumer staples - 0.1%
Vector Group, Ltd.
       2.500%, 01/15/2019 (P) 510,000 738,443
Financials - 0.3%
MGIC Investment Corp.
       2.000%, 04/01/2020 1,065,000 1,411,125
Health care - 0.4%
WellPoint, Inc.
       2.750%, 10/15/2042 1,099,000 1,809,916
Industrials - 0.2%
Air Lease Corp.
       3.875%, 12/01/2018 815,000 1,105,853
Information technology - 0.2%
Intel Corp.
       3.250%, 08/01/2039 525,000 880,359
TOTAL CONVERTIBLE BONDS (Cost $5,599,501) $ 6,568,152
 
TERM LOANS (M) - 13.2%
Consumer discretionary - 3.1%
Burger King Corp. TBD 09/24/2021 (T) 1,585,000 1,571,352
Chrysler Group LLC
       3.250%, 12/31/2018 1,897,482 1,866,056
Four Seasons Holdings, Inc.
       3.500%, 06/27/2020 1,806,750 1,772,873
Hilton Worldwide Finance LLC
       3.500%, 10/26/2020 1,633,947 1,607,103
Hudson’s Bay Company
       4.750%, 11/04/2020 1,845,375 1,844,605
iHeartCommunications, Inc.
       6.904%, 01/30/2019 438,076 417,062
       7.654%, 07/30/2019 167,620 163,430
Lands’ End, Inc.
       4.250%, 04/02/2021 1,592,000 1,572,100
RentPath, Inc.
       6.250%, 05/29/2020 1,476,313 1,483,694
The Men’s Wearhouse, Inc.
       4.500%, 06/18/2021 1,796,000 1,785,898

The accompanying notes are an integral part of the financial statements. 255


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Strategic Income Opportunities Trust (continued)

Shares or
Principal
Amount       Value
TERM LOANS (M) (continued)
Consumer discretionary (continued)
Univision Communications, Inc.
       4.000%, 03/01/2020 $ 536,856 $ 526,007
Virgin Media Investment Holdings, Ltd.
       3.500%, 06/07/2020 975,000 948,188
15,558,368
Consumer staples - 1.7%
Aramark Services, Inc.
       3.250%, 02/24/2021 2,572,075 2,521,920
Big Heart Pet Brands  
       3.500%, 03/08/2020 784,159 754,998
HJ Heinz Company
       3.500%, 06/05/2020 2,839,768   2,802,141
Rite Aid Corp.
       3.500%, 02/21/2020 952,607 938,516
       5.750%, 08/21/2020 140,000 141,663
SUPERVALU, Inc.  
       4.500%, 03/21/2019 1,412,627 1,386,730
8,545,968
Financials - 1.8%
Carestream Health, Inc.
       5.000%, 06/07/2019 1,527,769 1,524,268
       9.500%, 12/07/2019 1,312,347 1,317,268
Crown Castle Operating Company    
       3.000%, 01/31/2021 3,466,899 3,416,196
HUB International, Ltd.
       4.250%, 10/02/2020 2,073,829 2,029,113
La Quinta Intermediate Holdings LLC
       4.000%, 04/14/2021 988,546 974,212
9,261,057
Health care - 3.4%
Biomet, Inc.
       3.655%, 07/25/2017 2,440,448 2,423,290
Catalent Pharma Solutions, Inc.
       4.500%, 05/20/2021 2,513,765 2,501,197
Community Health Systems, Inc.
       4.250%, 01/27/2021 2,159,560 2,151,732
Endo Luxembourg Finance I Company
       Sarl
       3.250%, 02/28/2021 711,425 703,200
Grifols Worldwide Operations USA, Inc.
       3.154%, 02/27/2021 1,872,982 1,837,342
Kindred Healthcare, Inc.
       4.000%, 04/09/2021 733,163 719,416
Mallinckrodt International Finance SA
       3.500%, 03/19/2021 3,223,197 3,170,318
National Mentor Holdings, Inc.
       4.750%, 01/31/2021 408,691 406,307
Ortho-Clinical Diagnostics, Inc.
       4.750%, 06/30/2021 1,007,475 994,882
Salix Pharmaceuticals, Ltd.
       4.250%, 01/02/2020 1,587,577 1,582,757
Valeant Pharmaceuticals International, Inc.
       3.750%, 08/05/2020 772,311 762,381
17,252,822
Industrials - 0.8%
American Builders & Contractors Supply
       Company, Inc.
       3.500%, 04/16/2020 1,480,050 1,452,299
Capital Safety North America
       Holdings, Inc.
       3.750%, 03/29/2021 937,857 910,894
Delta Air Lines, Inc.
       3.250%, 04/20/2017 876,000 863,955
US Airways, Inc.
       3.500%, 05/23/2019 801,900 782,053
4,009,201
Information technology - 0.7%
Dell International LLC
       4.500%, 04/29/2020 1,784,555 1,769,609
First Data Corp.
       3.655%, 03/23/2018 593,821 581,697
       3.655%, 09/24/2018 165,000 161,494
       4.155%, 03/24/2021 250,936 247,094
IMS Health, Inc.
       3.500%, 03/17/2021 855,700 836,804
  3,596,698
Materials - 0.5%
Berry Plastics Group, Inc.
       3.500%, 02/08/2020 1,349,263 1,313,508
FMG Resources August 2006 Pty, Ltd.
       3.750%, 06/30/2019 818,384 800,652
Signode Industrial Group US, Inc.
       4.000%, 05/01/2021 577,370 569,792
  2,683,952
Telecommunication services - 0.1%
SBA Senior Finance II LLC
       3.250%, 03/24/2021 643,388 629,447
Utilities - 1.1%
Dynegy, Inc.
       4.000%, 04/23/2020 1,778,283 1,762,723
Exgen Texas Power LLC
       5.750%, 09/16/2021 1,565,000 1,556,197
La Frontera Generation LLC
       4.500%, 09/30/2020 1,996,962 1,970,752
Texas Competitive Electric Holdings
       Company LLC
       3.750%, 05/05/2016 565,781 565,781
5,855,453
TOTAL TERM LOANS (Cost $68,186,178) $ 67,392,966
   
COLLATERALIZED MORTGAGE
OBLIGATIONS - 5.6%
Commercial and residential - 5.0%
Adjustable Rate Mortgage Trust,
       Series 2004-5, Class 2A1
       2.650%, 04/25/2035 (P) 530,426 529,292
American Home Mortgage Assets Trust,
       Series 2006-6, Class XP IO
       2.252%, 12/25/2046 8,010,847 626,378
Americold 2010 LLC Trust,
       Series 2010-ARTA, Class D
       7.443%, 01/14/2029 (S) 645,000 732,919
Banc of America Commercial
       Mortgage Trust, Inc., Series 2006-4,
       Class AM 5.675%, 07/10/2046 825,000 888,725
Bear Stearns Adjustable
       Rate Mortgage Trust
       Series 2004-10, Class 12A3,
              2.724%, 01/25/2035 (P) 508,803 509,144
       Series 2005-2, Class A1,
              2.580%, 03/25/2035 (P) 254,315 256,869

The accompanying notes are an integral part of the financial statements. 256


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Strategic Income Opportunities Trust (continued)

Shares or
Principal
Amount       Value
COLLATERALIZED MORTGAGE
OBLIGATIONS (continued)
Commercial and residential (continued)
Bear Stearns Alt-A Trust
       Series 2004-12, Class 1A1,
              0.855%, 01/25/2035 (P) $ 458,015 $ 444,472
       Series 2004-13, Class A1,  
              0.895%, 11/25/2034 (P) 669,423 668,666
       Series 2004-8, Class 1A,
              0.855%, 09/25/2034 (P) 93,879 91,526
       Series 2005-7, Class 11A1,
              0.695%, 08/25/2035 (P) 312,984 293,009
Chase Mortgage Finance Corp.,
       Series 2007-A1, Class 2A1
       2.468%, 02/25/2037 (P) 224,581   225,380
Commercial Mortgage Pass
       Through Certificates  
       Series 2006-GG7, Class AM,
              6.014%, 07/10/2038 (P) 90,000 96,136
       Series 2014-TWC, Class D,  
              2.406%, 02/13/2032 (P)(S) 965,000 961,699
DSLA Mortgage Loan Trust
       Series 2004-AR1 Class X2 IO,
              1.950%, 09/19/2044 3,436,683 181,691
       Series 2005-AR2, Class X2 IO,
              2.697%, 03/19/2045 6,257,601 499,581
GSR Mortgage Loan Trust, Series 2004-5,
       Class 2A1 2.594%, 05/25/2034 (P) 927,824 933,372
HarborView Mortgage Loan Trust
       Series 2004-7, Class 4A,
              2.650%, 11/19/2034 (P) 662,692 665,535
       Series 2005-2, Class IX IO,
              2.164%, 05/19/2035 2,441,652 154,582
       Series 2005-9, Class 2A1A,
              0.494%, 06/20/2035 (P) 474,045 457,921
       Series 2005-9, Class 2A1C,
              0.604%, 06/20/2035 (P) 321,962 298,992
       Series 2005-8, Class 1X IO,
              2.078%, 09/19/2035 5,173,752 312,872
       Series 2007-3, Class ES IO,
              0.349%, 05/19/2047 (S) 11,506,172 122,253
       Series 2007-4, Class ES IO,
              0.349%, 07/19/2047 12,331,486 123,315
       Series 2007-6, Class ES IO,
              0.342%, 08/19/2037 (S) 9,619,043 102,202
Hilton USA Trust, Series 2013-HLF,
       Class EFL 3.906%, 11/05/2030 (P)(S) 690,000 691,737
IndyMac Index Mortgage Loan Trust
       Series 2005-AR18, Class 1X IO,
              2.054%, 10/25/2036 19,638,624 1,532,341
       Series 2005-AR18, Class 2X IO,
              1.697%, 10/25/2036 18,938,501 604,890
JPMorgan Chase Commercial
       Mortgage Securities Trust
       Series 2006-LDP7, Class AM,
              6.057%, 04/15/2045 (P) 190,000 203,917
       Series 2007-CB18, Class A4,
              5.440%, 06/12/2047 618,813 666,522
       Series 2014-INN, Class F,
              4.154%, 06/15/2029 (P)(S) 390,000 389,222
LB-UBS Commercial Mortgage Trust,
       Series 2006-C6, Class AM
       5.413%, 09/15/2039 615,000 661,530
Merrill Lynch Mortgage Investors Trust
       Series 2004-1, Class 2A1,
              2.148%, 12/25/2034 (P) 256,803 251,771
       Series 2005-A2, Class A2,
              2.469%, 02/25/2035 (P) 408,129 411,434
       Series 2006-3, Class 2A1,
              2.274%, 10/25/2036 (P) 269,243 266,493
Merrill Lynch Mortgage Trust,
       Series 2005-LC1, Class AM
       5.488%, 01/12/2044 (P) 885,000 926,747
Merrill Lynch/Countrywide Commercial
       Mortgage Trust, Series 2006-3,
       Class A4 5.414%, 07/12/2046 (P) 587,665 624,064
Morgan Stanley Capital I, Inc.
       4.295%, 09/09/2024 (S) 695,000 641,058
Morgan Stanley Mortgage Loan Trust
       Series 2004-8AR, Class 4A1,
              2.429%, 10/25/2034 (P) 447,896 443,981
       Series 2004-9, Class 1A,
              5.620%, 11/25/2034 (P) 295,305 292,727
Opteum Mortgage Acceptance Corp.,
       Series 2005-4, Class 1APT
              0.465%, 11/25/2035 (P) 435,171 412,603
Structured Asset Securities Corp.,
       Series 2003-7A, Class 3A6
       2.496%, 12/25/2033 (P) 416,980 413,696
WaMu Mortgage Pass
       Through Certificates
       Series 2004-AR14, Class A1,
              2.396%, 01/25/2035 (P) 604,748 609,693
       Series 2005-AR19, Class A1A2,
              0.445%, 12/25/2045 (P) 649,298 612,286
       Series 2005-AR2, Class 2A1B,
              0.525%, 01/25/2045 (P) 758,196 704,049
       Series 2005-AR2, Class 2A2B,
              0.535%, 01/25/2045 (P) 523,757 486,753
       Series 2005-AR8, Class 2AB2,
              0.575%, 07/25/2045 (P) 589,196 547,795
       Series 2005-AR8, Class 2AB3,
              0.515%, 07/25/2045 (P) 576,685 533,228
WaMu Mortgage Pass-Through
       Certificates, Series 2005-AR6,
       Class 2A1A 0.385%, 04/25/2045 (P) 1,110,253 1,058,830
Wells Fargo Commercial Mortgage Trust,
       Series 2013-BTC, Class E
       3.668%, 04/16/2035 (P)(S) 955,000 856,288
Wells Fargo Mortgage Backed
       Securities Trust, Series 2004-Z,
       Class 2A1 2.615%, 12/25/2034 (P) 579,456 589,798
U.S. government agency - 0.6%
Federal Home Loan Mortgage Corp.
       Series 2014-DN2, Class M2,
              1.805%, 04/25/2024 (P) 450,000 437,052
       Series 291, Class IO,
              3.500%, 11/15/2032 1,798,738 328,091
       Series 292, Class IO,
              3.500%, 11/15/2027 1,235,947 180,710
       Series 304, Class C42 IO,
              4.000%, 12/15/2027 1,779,129 221,244
       Series 4077, Class IK IO,
              5.000%, 07/15/2042 1,494,231 333,577

The accompanying notes are an integral part of the financial statements. 257


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Strategic Income Opportunities Trust (continued)

Shares or
Principal
Amount       Value
COLLATERALIZED MORTGAGE
OBLIGATIONS (continued)
U.S. government agency (continued)
Federal National Mortgage Association
       Series 2012-118, Class AI IO,
              3.500%, 11/25/2037 $ 1,710,904 $ 266,792
       Series 2013-39, Class KI IO,
              4.000%, 05/25/2028 2,467,049 319,798
       Series 402, Class 3 IO,
              4.000%, 11/25/2039 328,707 67,082
       Series 402, Class 4 IO,
              4.000%, 10/25/2039 322,004 63,033
       Series 402, Class 7 IO,
              4.500%, 11/25/2039 377,667 78,424
       Series 406, Class 3 IO,
              4.000%, 01/25/2041 335,620 55,515
       Series 407, Class 4 IO,
              4.500%, 03/25/2041 617,280 106,316
       Series 407, Class 7 IO,
              5.000%, 03/25/2041 1,501,239 341,766
       Series 407, Class 8 IO,
              5.000%, 03/25/2041 748,628 165,597
2,964,997
TOTAL COLLATERALIZED MORTGAGE
OBLIGATIONS (Cost $25,037,773) $ 28,574,981
 
ASSET BACKED SECURITIES - 1.0%
Applebee’s/IHOP Funding LLC,
       Series 2014-1, Class A2
       4.277%, 09/05/2044 (S) 1,260,000 1,248,204
CKE Restaurant Holdings, Inc.,
       Series 2013-1A, Class A2
       4.474%, 03/20/2043 (S) 2,805,425 2,831,785
Home Equity Asset Trust, Series 2003-1,
       Class M1 1.655%, 06/25/2033 (P) 252,094 242,387
Specialty Underwriting & Residential
       Finance Trust, Series 2006-BC1,
       Class A2D 0.455%, 12/25/2036 (P) 535,000 515,516
TOTAL ASSET BACKED SECURITIES (Cost $4,817,742) $ 4,837,892
 
COMMON STOCKS - 3.0%
Consumer discretionary - 0.8%
Charter Communications, Inc., Class A (I) 26,089 $ 3,949,092
Vertis Holdings, Inc. (I) 8,371 0
3,949,092
Consumer staples - 0.2%  
Tyson Foods, Inc. (I) 23,171 1,166,892
Financials - 2.0%
Capital One Financial Corp. 21,545 1,758,503
City National Corp. 6,799 514,480
Commerce Bancshares, Inc. 21,388   954,867
Investors Bancorp, Inc. 73,647 746,044
MetLife, Inc. 22,931 1,231,853
Park National Corp. 7,109 536,161
SunTrust Banks, Inc. 42,025 1,598,211
Synovus Financial Corp. 37,548 887,635
TCF Financial Corp.   30,300 470,559
The PNC Financial Services Group, Inc. 18,510 1,584,086
10,282,399
TOTAL COMMON STOCKS (Cost $11,393,677) $ 15,398,383
           
PREFERRED SECURITIES - 8.7%  
Consumer staples - 0.2%
Post Holdings, Inc., 5.250% 14,805 1,154,790
Financials - 5.2%
American Tower Corp., 5.250% 13,535 1,468,548
Crown Castle International Corp., 4.500% 22,754 2,393,266
First Tennessee Bank NA, 3.750% (S) 2,005 1,457,008
Flagstar Bancorp, Inc. 1,067 1,232,711
GMAC Capital Trust I (8.125% to
       02/15/2016, then
       3 month LIBOR + 5.785%) 46,360 1,233,640
Hartford Financial Services
       Group, Inc., 7.875% 50,575 1,496,514
Hercules Technology Growth
       Capital, Inc., 6.250% 5,339 131,927
HSBC USA, Inc., 3.500% 45,001 985,972
Huntington Bancshares, Inc., 8.500% 1,305 1,722,600
M&T Bank Corp., Series A, 6.375% 1,540 1,524,600
Regions Financial Corp., 6.375% 49,955 1,223,398
SunTrust Banks, Inc., 4.000% 42,525 923,218
U.S. Bancorp, 3.500% 2,061 1,704,900
U.S. Bancorp (6.500% to 01/15/2022, then
       3 month LIBOR + 4.468%) 64,350 1,845,558
Wells Fargo & Company (5.850% to
       09/15/2023, then
       3 month LIBOR + 3.090%) 27,605 707,516
Wells Fargo & Company (6.625% to
       03/15/2024, then
       3 month LIBOR + 3.690%) 36,031 996,257
Weyerhaeuser Company, 6.375% 63,700 3,441,711
Zions Bancorporation, 6.950% 22,575 601,172
Zions Bancorporation, 7.900% 43,550 1,219,400
26,309,916
Industrials - 0.7%
Stanley Black & Decker, Inc., 6.250% 16,070 1,818,963
United Technologies Corp., 7.500% 26,342 1,551,280
3,370,243
Materials - 0.3%
Alcoa, Inc., 5.375% 23,240 1,159,676
ArcelorMittal, 6.000% 19,525 412,563
1,572,239
Utilities - 2.3%
Dominion Resources, Inc., 6.000% 38,600 2,171,250
Dominion Resources, Inc., 6.375% 47,070 2,348,793
Exelon Corp., 6.500% 56,187 2,854,300
Integrys Energy Group, Inc. (6.000% to
       08/01/2023, then
       3 month LIBOR + 3.220%) 18,656 478,340
NextEra Energy, Inc., 5.799% 7,445 406,423
NextEra Energy, Inc., 5.889% 27,190 1,628,953
SCE Trust I, 5.625% 22,260 523,778
The Laclede Group, Inc., 6.750% 29,900 1,584,700
11,996,537
TOTAL PREFERRED SECURITIES (Cost $43,332,446) $ 44,403,725
 
ESCROW CERTIFICATES - 0.0%
Consumer discretionary - 0.0%
Lear Corp., Series B
       8.750%, 12/01/2016 1,415,000 12,381
TOTAL ESCROW CERTIFICATES (Cost $76) $ 12,381

The accompanying notes are an integral part of the financial statements. 258


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Strategic Income Opportunities Trust (continued)

Shares or
Principal
Amount       Value
PURCHASED OPTIONS - 0.3%
Call options - 0.2%
Over the Counter on the USD vs. CAD
       (Expiration Date: 01/30/2015; Strike
       Price: USD $1.12; Counterparty:
       Morgan Stanley Company, Inc.) (I) 13,295,000 $ 282,373
Over the Counter on the USD vs. CAD
       (Expiration Date: 05/06/2015; Strike
       Price: USD $1.15; Counterparty:
       Morgan Stanley Company, Inc.) (I) 14,980,000 234,663
Over the Counter on the USD vs. CAD  
       (Expiration Date: 09/03/2015; Strike
       Price: USD $1.30; Counterparty:  
       Goldman Sachs & Company) (I) 10,810,000 42,062
Over the Counter on the USD vs. CHF
       (Expiration Date: 12/16/2014; Strike
       Price: USD $0.93; Counterparty:
       Morgan Stanley Company, Inc.) (I) 7,630,000 239,353
Over the Counter on the USD vs. JPY  
       (Expiration Date: 03/03/2015; Strike
       Price: USD $110.50; Counterparty:
       Morgan Stanley Company, Inc.) (I) 20,975,000 352,527
1,150,978
Put options - 0.1%
Over the Counter on the USD vs. EUR  
       (Expiration Date: 06/22/2015; Strike  
       Price: USD $1.55; Counterparty:
       Morgan Stanley Company, Inc.) (I) 13,295,000 258,416
TOTAL PURCHASED OPTIONS (Cost $1,068,608) $ 1,409,394
 
SHORT-TERM INVESTMENTS - 0.3%
Repurchase agreement - 0.3%
Barclays Tri-Party Repurchase Agreement
       dated 09/30/2014 at 0.000% to be
       repurchased at $1,129,000 on
       10/01/2014, collateralized by $554,100
       U.S. Treasury Inflation Indexed Bonds,
       3.875% due 04/15/2029 (valued at
       $1,151,686, including interest) $ 1,129,000 1,129,000
Repurchase Agreement with State
       Street Corp. dated 09/30/2014 at
       0.000% to be repurchased at $434,000
       on 10/01/2014, collateralized by
       $445,000 U.S. Treasury Notes, 1.500%
       due 01/31/2019 (valued at $442,775,
       including interest) 434,000 434,000
1,563,000
TOTAL SHORT-TERM INVESTMENTS (Cost $1,563,000) $ 1,563,000
Total Investments (Strategic Income Opportunities Trust)
       (Cost $481,153,922) - 95.6% $ 487,076,773
Other assets and liabilities, net - 4.4% 22,213,333
TOTAL NET ASSETS - 100.0% $ 509,290,106
 
Total Bond Market Trust B
 
Shares or
Principal
Amount Value
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS - 68.3%
U.S. government - 35.1%
U.S. Treasury Bonds
       3.375%, 05/15/2044 $ 11,660,000 $ 12,038,950
       3.875%, 08/15/2040 1,100,000 1,245,407
       4.250%, 05/15/2039 to 11/15/2040 4,060,000 4,861,042
       4.375%, 05/15/2041 1,230,000 1,508,864
       4.625%, 02/15/2040 1,400,000 1,773,187
       4.750%, 02/15/2041 2,000,000 2,590,938
       7.500%, 11/15/2016 1,270,000 1,451,670
       7.875%, 02/15/2021 3,400,000 4,585,750
       8.125%, 08/15/2021 1,400,000 1,937,797
       8.750%, 08/15/2020 1,400,000 1,928,063
U.S. Treasury Notes
       0.375%, 03/31/2016 to 04/30/2016 13,000,000 13,000,876
       0.625%, 05/31/2017 to 04/30/2018 8,600,000 8,466,593
       0.750%, 12/31/2017 3,700,000 3,641,322
       0.875%, 04/30/2017 5,000,000 4,994,920
       1.000%, 03/31/2017 4,000,000 4,012,500
       1.250%, 10/31/2018 to 04/30/2019 1,700,000 1,671,617
       1.375%, 09/30/2018 900,000 894,656
       1.500%, 06/30/2016 to 03/31/2019 13,500,000 13,503,048
       1.625%, 04/30/2019 to 06/30/2019 11,400,000 11,334,839
       1.625%, 08/31/2019 (L) 10,100,000 10,033,724
       1.750%, 09/30/2019 4,000,000 3,996,094
       1.875%, 08/31/2017 2,000,000 2,046,718
       2.000%, 04/30/2016 to 02/15/2022 7,500,000 7,583,009
       2.375%, 08/15/2024 20,525,000 20,294,094
       2.750%, 02/15/2019 7,000,000 7,327,579
       3.000%, 09/30/2016 to 02/28/2017 6,720,000 7,053,610
       3.125%, 10/31/2016 to 05/15/2021 2,200,000 2,318,352
       3.250%, 06/30/2016 3,650,000 3,825,087
       4.250%, 11/15/2017 7,300,000 7,991,222
167,911,528
U.S. government agency - 33.2%
Federal Farm Credit Bank 4.875%, 12/16/2015 900,000 950,153
Federal Home Loan Bank
       0.875%, 05/24/2017 1,000,000 997,279
       5.375%, 05/18/2016 2,200,000 2,373,494
       5.500%, 07/15/2036 190,000 246,275
Federal Home Loan Mortgage Corp.
       2.368%, 08/01/2037 (P) 667,796 715,794
       2.500%, 05/27/2016 1,180,000 1,219,281
       2.850%, 02/01/2037 (P) 327,750 351,307
       3.000%, 10/01/2042 3,477,644 3,441,917
       3.500%, 12/01/2025 to 10/10/2041 7,192,246 7,432,085
       4.000%, 02/01/2024 to 12/01/2040 3,279,979 3,462,592
       4.500%, 05/01/2024 to 11/01/2041 6,433,971 6,970,773
       5.000%, TBA (C) 2,300,000 2,533,594
       5.000%, 06/01/2023 to 10/01/2040 1,518,340 1,678,957
       5.500%, 08/23/2017 to 01/01/2039 3,608,636 4,040,977
       6.000%, 06/01/2022 to 10/01/2038 1,086,226 1,224,644
       6.250%, 07/15/2032 450,000 629,293
       6.500%, 07/01/2016 to 09/01/2038 346,714 388,340
       6.750%, 09/15/2029 1,200,000 1,707,887
       7.000%, 02/01/2016 to 10/01/2038 163,283 185,941
       7.500%, 02/01/2016 to 03/01/2032 19,985 23,752
       8.000%, 02/01/2030 2,912 3,522
Federal National Mortgage Association
       1.793%, 07/01/2034 (P) 428,263 444,714
       1.958%, 01/01/2035 (P) 803,748 841,750
       2.180%, 09/01/2037 (P) 363,854 386,533
       2.310%, 05/01/2036 (P) 204,034 217,107
       2.356%, 04/01/2037 (P) 986,416 1,057,314

The accompanying notes are an integral part of the financial statements. 259


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Total Bond Market Trust B (continued)

Shares or
Principal
Amount       Value
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS (continued)
U.S. government agency (continued)
Federal National Mortgage
Association (continued)
       2.500%, TBA (C) $ 1,000,000 $ 1,005,703
       2.500%, 05/01/2028 2,212,245 2,235,318
       2.575%, 04/01/2036 (P) 112,538 120,626
       3.000%, TBA (C) 4,400,000 4,337,395
       3.000%, 01/01/2027 to 04/01/2043   14,591,135 14,748,393
       3.500%, 12/01/2025 to 02/01/2043 15,588,164 16,016,160
       4.000%, 08/01/2020 to 05/01/2042 7,899,859 8,353,575
       4.375%, 10/15/2015 6,350,000 6,625,311
       4.500%, 06/01/2018 to 06/01/2041 8,151,936 8,790,734
       5.000%, 12/01/2018 to 07/01/2039 4,471,856 4,928,014
       5.131%, 10/01/2037 (P) 105,379 112,953
       5.500%, 08/01/2017 to 11/01/2038 3,241,243 3,603,886
       6.000%, 01/01/2021 to 08/01/2038 2,152,488 2,417,618
       6.500%, 02/01/2015 to 12/01/2037 583,394 659,206
       7.000%, 12/01/2015 to 10/01/2038 226,545 258,489
       7.125%, 01/15/2030 209,000   305,580
       7.250%, 05/15/2030 1,450,000 2,164,277
       7.500%, 09/01/2030 to 08/01/2031 41,001 48,608
       8.000%, 08/01/2030 to 09/01/2031 11,658   14,068
       8.500%, 09/01/2030 1,463 1,795
Government National Mortgage Association
       3.000%, TBA (C) 3,600,000 3,624,152
       3.000%, 08/15/2043 3,482,797 3,511,877
       3.500%, 10/10/2041 to 01/15/2043 8,333,954 8,627,257
       4.000%, 11/15/2026 to 02/15/2041 7,581,366 8,080,089
       4.500%, 05/15/2019 to 10/20/2040 4,755,469 5,181,581
       5.000%, 05/15/2018 to 07/20/2040 3,837,482 4,272,922
       5.500%, 08/15/2023 to 09/20/2039 1,423,414 1,587,750
       6.000%, 04/15/2017 to 10/15/2038 884,537 997,568
       6.500%, 01/15/2016 to 12/15/2038 440,899 502,638
       7.000%, 08/15/2029 to 05/15/2032 74,362 87,139
       7.500%, 08/15/2029 to 01/15/2031 22,856 27,143
       8.000%, 04/15/2031 8,924 10,818
       8.500%, 09/15/2030 5,978 7,350
       9.000%, 01/15/2031 1,474 1,839
Tennessee Valley Authority
       3.875%, 02/15/2021 700,000 763,207
The Financing Corp. 8.600%, 09/26/2019 675,000 883,460
  158,439,774
TOTAL U.S. GOVERNMENT AND AGENCY
OBLIGATIONS (Cost $314,436,856) $ 326,351,302
 
FOREIGN GOVERNMENT
OBLIGATIONS - 3.2%
Brazil - 0.4%
Federative Republic of Brazil
       4.250%, 01/07/2025 1,612,000 1,595,880
       5.875%, 01/15/2019 105,000 118,125
  1,714,005
Canada - 0.8%
Government of Canada
       0.875%, 02/14/2017 250,000 249,584
Province of British Columbia
       6.500%, 01/15/2026 490,000 642,874
Province of Manitoba
       9.625%, 12/01/2018 300,000 381,054
Province of New Brunswick
       5.200%, 02/21/2017 380,000 417,957
Province of Nova Scotia
       5.125%, 01/26/2017 455,000 498,405
Province of Ontario
       1.100%, 10/25/2017 500,000 496,515
       4.500%, 02/03/2015 350,000 355,047
Province of Quebec
       7.125%, 02/09/2024 150,000 194,795
       7.500%, 07/15/2023 410,000 546,071
  3,782,302
Chile - 0.1%
Republic of Chile
       3.875%, 08/05/2020 510,000 544,170
Colombia - 0.1%
Republic of Colombia
       4.375%, 07/12/2021 550,000 581,625
Israel - 0.2%
Government of Israel
       5.125%, 03/26/2019 530,000 597,045
       5.500%, 09/18/2023 455,000 549,964
  1,147,009
Italy - 0.1%
Republic of Italy
       6.875%, 09/27/2023 300,000 382,833
Japan - 0.3%
Japan Bank for International Cooperation
       2.250%, 07/13/2016 1,250,000 1,284,546
Mexico - 0.3%
Government of Mexico
       5.950%, 03/19/2019 415,000 473,723
       6.050%, 01/11/2040 930,000 1,097,400
  1,571,123
Panama - 0.1%
Republic of Panama
       6.700%, 01/26/2036 370,000 454,175
Peru - 0.1%
Republic of Peru
       6.550%, 03/14/2037 250,000 315,000
       7.125%, 03/30/2019 120,000 142,800
  457,800
Philippines - 0.2%
Republic of Philippines
       4.000%, 01/15/2021 1,000,000 1,053,750
Poland - 0.0%
Republic of Poland
       6.375%, 07/15/2019 110,000 129,250
South Africa - 0.2%
Republic of South Africa
       5.500%, 03/09/2020 740,000 796,425
Turkey - 0.3%
Republic of Turkey
       6.000%, 01/14/2041 400,000 414,000
       6.250%, 09/26/2022 400,000 440,000
       7.500%, 07/14/2017 400,000 448,000
  1,302,000
TOTAL FOREIGN GOVERNMENT
OBLIGATIONS (Cost $14,680,459) $ 15,201,013

The accompanying notes are an integral part of the financial statements. 260


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Total Bond Market Trust B (continued)

Shares or
Principal
Amount       Value
CORPORATE BONDS - 23.5%
Consumer discretionary - 2.1%
21st Century Fox America, Inc.
       6.650%, 11/15/2037 $ 440,000 $ 551,532
Brinker International, Inc.
       3.875%, 05/15/2023 250,000 245,512
CBS Corp.
       4.300%, 02/15/2021 150,000 159,928
Comcast Corp.
       5.700%, 07/01/2019 310,000 358,236
       6.500%, 01/15/2015 to 11/15/2035 415,000 494,445
COX Communications, Inc.
       9.375%, 01/15/2019 (S) 125,000 159,557
DIRECTV Holdings LLC
       5.150%, 03/15/2042   50,000 50,557
       6.375%, 03/01/2041 360,000 419,545
Discovery Communications LLC  
       5.625%, 08/15/2019 250,000 286,627
Family Dollar Stores, Inc.
       5.000%, 02/01/2021 305,000 316,629
Ford Motor Credit Company LLC
       5.000%, 05/15/2018 1,040,000 1,136,018
Grupo Televisa SAB
       6.625%, 01/15/2040 220,000 264,790
Home Depot, Inc.  
       5.875%, 12/16/2036 280,000 344,763
Hyatt Hotels Corp.  
       3.375%, 07/15/2023 250,000 243,319
Johnson Controls, Inc.
       5.700%, 03/01/2041 150,000 171,207
Lowe’s Companies, Inc.
       5.800%, 10/15/2036 140,000   167,155
       6.100%, 09/15/2017 180,000 203,713
McDonald’s Corp.
       3.625%, 05/20/2021 250,000 265,266
       5.000%, 02/01/2019 228,000 255,158
NBCUniversal Media LLC
       5.150%, 04/30/2020 230,000 261,200
O’Reilly Automotive, Inc.
       4.875%, 01/14/2021 300,000 327,287
Target Corp.
       6.500%, 10/15/2037 288,000 370,844
TCI Communications, Inc.
       7.125%, 02/15/2028 110,000 144,587
The Walt Disney Company
       5.625%, 09/15/2016 340,000 371,552
Thomson Reuters Corp.
       4.500%, 05/23/2043 250,000 238,223
Time Warner Cable, Inc.
       4.125%, 02/15/2021 60,000 63,762
Time Warner Companies, Inc.
       7.250%, 10/15/2017 100,000 116,239
       7.570%, 02/01/2024 240,000 306,481
Time Warner Entertainment Company LP
       8.375%, 07/15/2033 525,000 775,493
Time Warner, Inc.
       7.625%, 04/15/2031 285,000 384,685
Toyota Motor Credit Corp.
       3.400%, 09/15/2021 320,000 331,556
Viacom, Inc.
       4.250%, 09/15/2015 150,000 155,166
       4.500%, 03/01/2021 120,000 129,522
Volkswagen International Finance NV
       2.875%, 04/01/2016 (S) 60,000 61,809
   10,132,363
Consumer staples - 1.8%
Altria Group, Inc.
       4.125%, 09/11/2015 150,000 154,815
       9.250%, 08/06/2019 105,000 136,717
       9.950%, 11/10/2038 17,000 28,109
Anheuser-Busch InBev Worldwide, Inc.
       6.875%, 11/15/2019 460,000 552,090
       7.750%, 01/15/2019 335,000 404,516
Bottling Group LLC
       5.125%, 01/15/2019 105,000 117,517
Brown-Forman Corp.
       2.500%, 01/15/2016 300,000 306,474
Bunge, Ltd. Finance Corp.
       8.500%, 06/15/2019 160,000 198,740
Campbell Soup Company
       4.500%, 02/15/2019 300,000 325,824
ConAgra Foods, Inc.
       5.819%, 06/15/2017 38,000 41,952
       7.000%, 04/15/2019 118,000 140,013
       9.750%, 03/01/2021 175,000 225,559
CVS Health Corp.
       4.125%, 05/15/2021 60,000 64,267
CVS Pass-Through Trust
       8.353%, 07/10/2031 (S) 89,647 120,823
Diageo Capital PLC
       4.828%, 07/15/2020 95,000 105,630
Dr. Pepper Snapple Group, Inc.
       2.900%, 01/15/2016 500,000 513,572
Energizer Holdings, Inc.
       4.700%, 05/19/2021 250,000 257,824
General Mills, Inc.
       5.650%, 02/15/2019 315,000 358,130
Kellogg Company
       4.150%, 11/15/2019 30,000 32,386
Kimberly-Clark Corp.
       7.500%, 11/01/2018 250,000 303,212
Kraft Foods Group, Inc.
       6.125%, 08/23/2018 66,000 75,724
       6.875%, 01/26/2039 40,000 51,122
PepsiCo, Inc.
       4.000%, 03/05/2042 270,000 256,430
       5.500%, 01/15/2040 280,000 329,824
Philip Morris International, Inc.
       3.600%, 11/15/2023 250,000 253,215
       4.125%, 05/17/2021 320,000 345,593
Reynolds American, Inc.
       3.250%, 11/01/2022 270,000 260,585
Safeway, Inc.
       6.350%, 08/15/2017 27,000 28,475
SC Johnson & Son, Inc.
       4.000%, 05/15/2043 (S) 250,000 245,630
Tate & Lyle International Finance PLC
       5.000%, 11/15/2014 (S) 90,000 90,493
The Clorox Company
       5.950%, 10/15/2017 295,000 331,925
The Coca-Cola Company
       3.150%, 11/15/2020 60,000 62,522
The Kroger Company
       3.900%, 10/01/2015 150,000 154,872
       6.400%, 08/15/2017 370,000 418,267
The Procter & Gamble Company
       5.500%, 02/01/2034 50,000 61,062
Wal-Mart Stores, Inc.
       4.125%, 02/01/2019 100,000 109,144

The accompanying notes are an integral part of the financial statements. 261


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Total Bond Market Trust B (continued)

Shares or
Principal
Amount       Value
CORPORATE BONDS (continued)
Consumer staples (continued)
Wal-Mart Stores, Inc. (continued)
       6.200%, 04/15/2038 $ 125,000 $ 159,627
       7.550%, 02/15/2030 410,000 581,487
Walgreen Company
       5.250%, 01/15/2019 335,000 372,217
  8,576,384
Energy - 3.1%
Anadarko Petroleum Corp.
       6.450%, 09/15/2036 280,000 341,213
Apache Corp.
       3.625%, 02/01/2021 250,000 260,341
BP Capital Markets PLC
       1.375%, 11/06/2017 500,000 496,601
       2.750%, 05/10/2023 250,000 236,185
Canadian Natural Resources, Ltd.
       6.250%, 03/15/2038 290,000 353,259
Cenovus Energy, Inc.
       5.700%, 10/15/2019 40,000 45,788
Chevron Corp.
       4.950%, 03/03/2019 90,000 100,591
ConocoPhillips
       5.750%, 02/01/2019 100,000 114,118
DCP Midstream LLC
       9.750%, 03/15/2019 (S) 95,000 121,671
Devon Financing Corp. ULC
       7.875%, 09/30/2031 170,000 235,043
Enbridge Energy Partners LP
       9.875%, 03/01/2019 125,000 161,978
Encana Corp.
       6.500%, 08/15/2034 270,000 328,568
Energy Transfer Partners LP
       6.500%, 02/01/2042 50,000 56,933
       6.700%, 07/01/2018 250,000 287,849
Ensco PLC
       4.700%, 03/15/2021 360,000 378,076
Enterprise Products Operating LLC
       4.850%, 08/15/2042 280,000 287,544
       6.875%, 03/01/2033 130,000 167,805
EOG Resources, Inc.
       4.100%, 02/01/2021 300,000 324,014
Halliburton Company
       6.150%, 09/15/2019 360,000 423,660
Hess Corp.
       8.125%, 02/15/2019 280,000 345,230
Kinder Morgan Energy Partners LP
       5.625%, 02/15/2015 120,000 122,253
       6.375%, 03/01/2041 60,000 67,681
       6.500%, 09/01/2039 180,000 200,720
       9.000%, 02/01/2019 60,000 74,771
Magellan Midstream Partners LP
       6.550%, 07/15/2019 180,000 211,539
Nabors Industries, Inc.
       9.250%, 01/15/2019 105,000 132,838
Nexen Energy ULC
       6.200%, 07/30/2019 120,000 139,271
Noble Holding International, Ltd.
       6.050%, 03/01/2041 50,000 50,631
Occidental Petroleum Corp.
       4.100%, 02/01/2021 300,000 323,561
ONEOK Partners LP
       6.650%, 10/01/2036 268,000 319,193
Pemex Project Funding Master Trust
       7.375%, 12/15/2014 260,000 263,588
Petro-Canada
       5.950%, 05/15/2035 235,000 279,955
       6.050%, 05/15/2018 125,000 142,561
Petrobras Global Finance BV  
       4.375%, 05/20/2023 365,000 342,016
Petrobras International Finance Company  
       5.375%, 01/27/2021 400,000 403,960
       6.750%, 01/27/2041 80,000 80,448
       8.375%, 12/10/2018 90,000 105,455
Petroleos Mexicanos
       4.875%, 01/18/2024 (S) 500,000 524,500
       5.500%, 01/21/2021 320,000 352,160
       6.625%, 06/15/2035 230,000 266,915
Plains All American Pipeline LP
       8.750%, 05/01/2019 60,000 75,993
Shell International Finance BV
       0.900%, 11/15/2016 500,000 500,530
       6.375%, 12/15/2038 90,000 118,006
Southern Natural Gas Company
       4.400%, 06/15/2021   250,000 261,651
Statoil ASA  
       1.800%, 11/23/2016 580,000 590,681
Sunoco Logistics Partners Operations LP
       3.450%, 01/15/2023 170,000 164,925
Talisman Energy, Inc.
       3.750%, 02/01/2021 60,000 60,658
       6.250%, 02/01/2038 110,000 122,714
       7.750%, 06/01/2019 150,000 181,985
The Williams Companies, Inc.
       7.875%, 09/01/2021 190,000 228,916
Tosco Corp.
       8.125%, 02/15/2030 383,000 559,993
Total Capital SA
       3.125%, 10/02/2015 40,000 41,060
       4.125%, 01/28/2021 40,000 43,401
       4.250%, 12/15/2021 60,000 65,577
TransCanada PipeLines, Ltd.
       5.850%, 03/15/2036 405,000 474,521
Valero Energy Corp.
       6.125%, 06/15/2017 345,000 385,391
       7.500%, 04/15/2032 270,000 346,193
Weatherford International, Ltd.
       5.500%, 02/15/2016 340,000 359,983
       6.000%, 03/15/2018 185,000 208,138
Williams Partners LP
       5.250%, 03/15/2020 400,000 444,277
14,705,076
Financials - 8.1%
AEGON Funding Company LLC
       5.750%, 12/15/2020 165,000 190,027
African Development Bank
       6.875%, 10/15/2015 145,000 153,131
Allied World Assurance Company, Ltd.
       7.500%, 08/01/2016 325,000 360,242
American Express Company
       2.650%, 12/02/2022 345,000 332,679
American Express Credit Corp.
       2.800%, 09/19/2016 400,000 413,182
American International Group, Inc.
       5.450%, 05/18/2017 120,000 132,248
       6.250%, 05/01/2036 430,000 537,720
American Tower Corp.
       4.500%, 01/15/2018 310,000 330,295

The accompanying notes are an integral part of the financial statements. 262


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Total Bond Market Trust B (continued)

Shares or
Principal
Amount       Value
CORPORATE BONDS (continued)
Financials (continued)
Asian Development Bank
       5.593%, 07/16/2018 $ 590,000 $ 669,029
Bank of America Corp.
       5.000%, 05/13/2021 320,000 351,483
       5.875%, 01/05/2021 350,000 401,520
       6.500%, 08/01/2016 80,000 87,310
       6.875%, 04/25/2018 to 11/15/2018 397,000 459,761
       7.750%, 05/14/2038 480,000 647,394
Bank of Nova Scotia
       2.900%, 03/29/2016 580,000 598,644
Barclays Bank PLC
       6.750%, 05/22/2019 240,000 285,309
BB&T Corp.
       5.200%, 12/23/2015 335,000 352,381
Berkshire Hathaway Finance Corp.
       4.250%, 01/15/2021 60,000 65,597
       5.400%, 05/15/2018 105,000 117,851
Berkshire Hathaway, Inc.
       3.200%, 02/11/2015 120,000 121,243
BNP Paribas SA
       3.250%, 03/11/2015 600,000 607,122
Boston Properties LP
       4.125%, 05/15/2021 300,000 317,630
Burlington Northern Santa Fe LLC
       4.400%, 03/15/2042 50,000 49,299
Capital One Bank USA NA
       3.375%, 02/15/2023 360,000 352,800
Citigroup, Inc.
       3.500%, 05/15/2023 250,000 239,737
       5.500%, 09/13/2025 400,000 436,278
       5.875%, 02/22/2033 220,000 244,249
       8.500%, 05/22/2019 277,000 346,308
CNA Financial Corp.
       7.350%, 11/15/2019 280,000 336,583
Credit Suisse USA, Inc.
       4.875%, 01/15/2015 475,000 481,006
Deutsche Bank AG
       3.250%, 01/11/2016 500,000 515,315
Discover Financial Services
       5.200%, 04/27/2022 120,000 131,416
Essex Portfolio LP
       5.200%, 03/15/2021 60,000 66,865
European Bank for Reconstruction
       & Development
       1.000%, 09/17/2018 500,000 488,764
       1.625%, 09/03/2015 70,000 70,837
European Investment Bank
       1.750%, 06/17/2019 1,000,000 995,223
       2.875%, 09/15/2020 200,000 208,122
       4.625%, 10/20/2015 495,000 517,316
       4.875%, 01/17/2017 200,000 218,071
Fifth Third Bancorp
       3.625%, 01/25/2016 250,000 258,785
       5.450%, 01/15/2017 300,000 326,274
First Horizon National Corp.
       5.375%, 12/15/2015 320,000 335,370
General Electric Capital Corp.
       6.000%, 08/07/2019 250,000 291,631
       6.750%, 03/15/2032 230,000 301,545
       6.875%, 01/10/2039 585,000 786,284
Glencore Finance Canada, Ltd.
       5.800%, 11/15/2016 (S) 105,000 114,345
Hartford Financial Services Group, Inc.
       5.950%, 10/15/2036 170,000 205,459
HCP, Inc.
       3.875%, 08/15/2024 400,000 391,972
Health Care REIT, Inc.
       4.950%, 01/15/2021 320,000 352,125
HSBC Holdings PLC
       6.500%, 09/15/2037 660,000 811,947
International American Development Bank
       2.250%, 07/15/2015 830,000 843,165
       7.000%, 06/15/2025 325,000 440,189
International Bank for Reconstruction
       & Development
       2.125%, 11/01/2020 500,000 500,464
       8.625%, 10/15/2016 100,000 115,380
Jefferies Group LLC
       5.125%, 04/13/2018 330,000 359,482
John Deere Capital Corp.
       1.700%, 01/15/2020 550,000 532,382
JPMorgan Chase & Company
       1.100%, 10/15/2015 290,000 291,194
       4.350%, 08/15/2021 710,000 759,087
       6.400%, 05/15/2038 125,000 157,318
Kemper Corp.
       6.000%, 11/30/2015 120,000 126,319
KeyCorp
       5.100%, 03/24/2021 250,000 278,519
KFW
       1.000%, 06/11/2018 500,000 491,035
       1.875%, 04/01/2019 1,000,000 1,004,886
       4.375%, 03/15/2018 360,000 395,721
       5.125%, 03/14/2016 780,000 831,926
Kimco Realty Corp.
       6.875%, 10/01/2019 60,000 71,292
Landwirtschaftliche Rentenbank
       5.125%, 02/01/2017 75,000 82,250
Lincoln National Corp.
       7.000%, 06/15/2040 150,000 199,662
MetLife, Inc.
       6.750%, 06/01/2016 150,000 164,564
       6.817%, 08/15/2018 190,000 222,857
Moody’s Corp.
       5.500%, 09/01/2020 60,000 67,563
Morgan Stanley
       4.100%, 05/22/2023 250,000 249,375
       5.950%, 12/28/2017 435,000 487,244
       6.625%, 04/01/2018 503,000 576,137
       7.300%, 05/13/2019 110,000 131,229
MUFG Union Bank NA  
       5.950%, 05/11/2016 250,000 268,380
National Rural Utilities Cooperative
       Finance Corp.
       10.375%, 11/01/2018 180,000   237,065
Nomura Holdings, Inc.
       4.125%, 01/19/2016 110,000 114,172
Northern Trust Corp.
       3.450%, 11/04/2020 300,000 315,707
Oesterreichische Kontrollbank AG  
       4.875%, 02/16/2016 295,000 312,462
PartnerRe Finance A LLC
       6.875%, 06/01/2018 250,000 287,473
PartnerRe Finance B LLC
       5.500%, 06/01/2020 60,000 67,369

The accompanying notes are an integral part of the financial statements. 263


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Total Bond Market Trust B (continued)

Shares or
Principal
Amount       Value
CORPORATE BONDS (continued)
Financials (continued)
Plum Creek Timberlands LP
       4.700%, 03/15/2021 $ 150,000 $ 162,979
PNC Funding Corp.
       4.250%, 09/21/2015 40,000 41,421
       5.625%, 02/01/2017 310,000 337,961
       6.700%, 06/10/2019 310,000 368,867
Prudential Financial, Inc.
       3.875%, 01/14/2015 140,000 141,376
       4.750%, 09/17/2015 290,000 301,451
       5.375%, 06/21/2020 280,000 316,994
Rabobank Nederland NV
       4.500%, 01/11/2021 500,000 545,433
Reinsurance Group of America, Inc.
       5.000%, 06/01/2021 50,000 54,874
Senior Housing Properties Trust
       4.300%, 01/15/2016 110,000 113,171
Simon Property Group LP
       5.650%, 02/01/2020 330,000 379,912
State Street Corp.
       3.100%, 05/15/2023 250,000 242,535
Stifel Financial Corp.
       4.250%, 07/18/2024 500,000 502,996
SunTrust Banks, Inc.
       6.000%, 09/11/2017 435,000 488,580
The Bank of New York Mellon Corp.
       2.500%, 01/15/2016 150,000 153,608
The Bear Stearns Companies LLC
       7.250%, 02/01/2018 710,000 826,069
The Chubb Corp.
       5.750%, 05/15/2018 275,000 310,942
The Goldman Sachs Group, Inc.
       5.500%, 11/15/2014 630,000 633,978
       6.125%, 02/15/2033 375,000 448,799
       6.150%, 04/01/2018 735,000 828,887
       7.500%, 02/15/2019 240,000 286,235
The Travelers Companies, Inc.
       5.900%, 06/02/2019 310,000 359,478
       6.250%, 06/20/2016 190,000 207,169
Travelers Property Casualty Corp.
       7.750%, 04/15/2026 50,000 67,441
U.S. Bancorp
       2.450%, 07/27/2015 280,000 284,723
U.S. Bank NA (3.778% to 04/29/2015 then
       3 month LIBOR + 2.003%)
       04/29/2020 230,000 234,039
UBS AG
       5.750%, 04/25/2018 185,000 208,641
Ventas Realty LP
       3.125%, 11/30/2015 150,000 154,023
       4.750%, 06/01/2021 60,000 65,337
Vornado Realty LP
       4.250%, 04/01/2015 290,000 292,652
Wells Fargo & Company
       3.450%, 02/13/2023 250,000 245,724
       5.000%, 11/15/2014 105,000 105,561
       5.625%, 12/11/2017 185,000 207,128
Westpac Banking Corp.
       3.000%, 12/09/2015 450,000 462,830
  38,769,406
Health care - 1.7%
AbbVie, Inc.
       2.900%, 11/06/2022 500,000 478,185
Aetna, Inc.
       3.950%, 09/01/2020 290,000 309,057
Agilent Technologies, Inc.
       3.875%, 07/15/2023 250,000 250,373
Amgen, Inc.
       5.150%, 11/15/2041 100,000 105,547
       5.700%, 02/01/2019 450,000 512,170
       5.750%, 03/15/2040 40,000 45,779
AstraZeneca PLC
       5.900%, 09/15/2017 340,000 381,948
Baxter International, Inc.
       5.900%, 09/01/2016 315,000 344,484
Becton, Dickinson and Company
       3.250%, 11/12/2020 300,000 310,376
Bristol-Myers Squibb Company
       6.800%, 11/15/2026 195,000 258,471
Cigna Corp.
       4.000%, 02/15/2022 280,000 294,444
Covidien International Finance SA
       6.000%, 10/15/2017 360,000 406,703
Eli Lilly & Company
       7.125%, 06/01/2025 250,000 329,155
Gilead Sciences, Inc.
       4.500%, 04/01/2021 330,000 361,784
GlaxoSmithKline Capital, Inc.
       6.375%, 05/15/2038 210,000 270,372
Johnson & Johnson
       2.150%, 05/15/2016 320,000 328,063
       5.850%, 07/15/2038 285,000 370,132
Laboratory Corp. of America Holdings
       4.625%, 11/15/2020 280,000 298,607
Life Technologies Corp.
       5.000%, 01/15/2021 310,000 345,173
McKesson Corp.
       4.750%, 03/01/2021 150,000 167,016
Medtronic, Inc.
       5.600%, 03/15/2019 165,000 187,654
Mylan, Inc.
       2.600%, 06/24/2018 250,000 252,375
Novartis Securities Investment, Ltd.
       5.125%, 02/10/2019 80,000 89,862
Pharmacia Corp.  
       6.500%, 12/01/2018 335,000 394,170
Quest Diagnostics, Inc.
       5.450%, 11/01/2015 30,000 31,445
UnitedHealth Group, Inc.
       4.375%, 03/15/2042 50,000 49,532
       4.875%, 03/15/2015 12,000 12,242
       5.800%, 03/15/2036 300,000 367,218
WellPoint, Inc.  
       4.650%, 08/15/2044 150,000 145,764
       6.375%, 06/15/2037 345,000 424,861
    8,122,962
Industrials - 1.4%
Burlington Northern Santa Fe LLC
       4.700%, 10/01/2019 250,000 278,211
Canadian Pacific Railway Company  
       4.450%, 03/15/2023 300,000   326,313
Caterpillar, Inc.
       7.900%, 12/15/2018 95,000 116,676
CSX Corp.
       3.700%, 10/30/2020 270,000 284,233
       6.250%, 04/01/2015 138,000 141,931

The accompanying notes are an integral part of the financial statements. 264


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Total Bond Market Trust B (continued)

Shares or
Principal
Amount Value
CORPORATE BONDS (continued)
Industrials (continued)
CSX Corp. (continued)
       7.375%, 02/01/2019 $ 105,000       $ 126,813
Emerson Electric Company
       4.875%, 10/15/2019 250,000 280,612
FedEx Corp.
       3.875%, 08/01/2042 420,000 378,298
       8.000%, 01/15/2019 50,000 61,631
Fluor Corp.
       3.375%, 09/15/2021 320,000 329,025
GATX Corp.
       4.750%, 05/15/2015 170,000 174,252
Ingersoll-Rand Global Holding Company, Ltd.
       6.875%, 08/15/2018 340,000 398,268
Koninklijke Philips NV
       6.875%, 03/11/2038 250,000 334,814
L-3 Communications Corp.
       4.750%, 07/15/2020 150,000 162,005
Norfolk Southern Corp.
       4.837%, 10/01/2041 240,000 257,497
Northrop Grumman Corp.
       3.500%, 03/15/2021 150,000 155,400
Pitney Bowes, Inc.
       6.250%, 03/15/2019 180,000 205,688
Ryder System, Inc.
       2.450%, 11/15/2018 250,000 252,479
Snap-On, Inc.
       6.125%, 09/01/2021 310,000 361,028
The Boeing Company
       8.750%, 09/15/2031 90,000 138,223
Tyco Electronics Group SA
       6.550%, 10/01/2017 500,000 569,387
Union Pacific Corp.
       4.000%, 02/01/2021 280,000 303,167
       4.821%, 02/01/2044 285,000 309,179
United Technologies Corp.
       5.375%, 12/15/2017 100,000 112,124
       6.125%, 02/01/2019 245,000 285,311
Waste Management, Inc.
       6.125%, 11/30/2039 50,000 61,861
       7.375%, 03/11/2019 315,000 380,248
6,784,674
Information technology - 1.1%
Apple, Inc.
       2.400%, 05/03/2023 800,000 756,667
Cisco Systems, Inc.
       3.150%, 03/14/2017 360,000 377,582
       5.900%, 02/15/2039 80,000 96,681
eBay, Inc.
       3.250%, 10/15/2020 250,000 256,000
Google, Inc.
       3.625%, 05/19/2021 320,000 340,171
Hewlett-Packard Company
       2.125%, 09/13/2015 290,000 294,032
       3.750%, 12/01/2020 300,000 311,142
IBM Corp.
       2.000%, 01/05/2016 330,000 335,743
       4.000%, 06/20/2042 210,000 201,350
       5.600%, 11/30/2039 21,000 25,046
Intel Corp.
       2.700%, 12/15/2022 690,000 671,151
Leidos Holdings, Inc.
       4.450%, 12/01/2020 300,000 305,343
Oracle Corp.
       5.750%, 04/15/2018 435,000 493,356
The Western Union Company
       3.650%, 08/22/2018 100,000 104,174
Xerox Corp.
       6.750%, 12/15/2039 60,000 73,663
XLIT, Ltd.
       5.750%, 10/01/2021 310,000 358,681
5,000,782
Materials - 1.1%
Agrium, Inc.
       6.750%, 01/15/2019 350,000 409,382
Alcoa, Inc.
       6.750%, 07/15/2018 345,000 390,338
Barrick North America Finance LLC
       4.400%, 05/30/2021 250,000 253,240
BHP Billiton Finance USA, Ltd.
       6.500%, 04/01/2019 300,000 354,570
Cliffs Natural Resources, Inc.
       4.875%, 04/01/2021 (L) 330,000 251,625
CRH America, Inc.
       8.125%, 07/15/2018 220,000 265,650
E.I. du Pont de Nemours & Company
       3.625%, 01/15/2021 180,000 189,514
Newmont Mining Corp.
       4.875%, 03/15/2042 270,000 227,633
Potash Corp. of Saskatchewan, Inc.
       5.625%, 12/01/2040 150,000 177,745
PPG Industries, Inc.
       3.600%, 11/15/2020 300,000 311,124
Praxair, Inc.
       2.450%, 02/15/2022 240,000 232,969
Rio Tinto Alcan, Inc.
       6.125%, 12/15/2033 100,000 119,955
Rio Tinto Finance USA PLC
       4.750%, 03/22/2042 270,000 274,828
Rio Tinto Finance USA, Ltd.
       5.200%, 11/02/2040 250,000 267,329
       6.500%, 07/15/2018 70,000 81,052
Teck Resources, Ltd.
       4.500%, 01/15/2021 70,000 72,775
       6.250%, 07/15/2041 270,000 274,414
The Dow Chemical Company
       4.375%, 11/15/2042 590,000 551,140
       5.700%, 05/15/2018 49,000 55,289
       9.400%, 05/15/2039 130,000 206,477
Vale Overseas, Ltd.
       6.875%, 11/10/2039 350,000 393,014
5,360,063
Telecommunication services - 1.3%
America Movil SAB de CV
       3.125%, 07/16/2022 500,000 485,540
       5.000%, 03/30/2020 61,000 66,753
AT&T, Inc.
       3.000%, 02/15/2022 500,000 495,282
       4.300%, 12/15/2042 20,000 18,277
       5.350%, 09/01/2040 400,000 424,158
British Telecommunications PLC
       9.625%, 12/15/2030 190,000 298,352
Deutsche Telekom International Finance BV
       8.750%, 06/15/2030 146,000 212,906

The accompanying notes are an integral part of the financial statements. 265


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Total Bond Market Trust B (continued)

Shares or
Principal
Amount Value
CORPORATE BONDS (continued)
Telecommunication services (continued)
Telefonica Emisiones SAU
       7.045%, 06/20/2036 $ 230,000       $ 291,348
Telefonica Europe BV
       8.250%, 09/15/2030 350,000 474,270
Verizon Communications, Inc.
       2.625%, 02/21/2020 (S) 880,000 869,173
       4.600%, 04/01/2021 650,000 707,786
       5.150%, 09/15/2023 820,000 906,966
       6.900%, 04/15/2038 190,000 244,806
Vodafone Group PLC
       4.375%, 03/16/2021 110,000 117,651
       5.450%, 06/10/2019 320,000 360,274
5,973,542
Utilities - 1.8%
CenterPoint Energy Resources Corp.
       4.500%, 01/15/2021 246,000 269,055
Consolidated Edison Company of New
       York, Inc.
       7.125%, 12/01/2018 295,000 352,224
Constellation Energy Group, Inc.
       5.150%, 12/01/2020 310,000 343,309
Dominion Resources, Inc.
       5.200%, 08/15/2019 110,000 124,359
DTE Energy Company
       6.350%, 06/01/2016 230,000 249,671
Duke Energy Carolinas LLC
       6.000%, 01/15/2038 200,000 254,734
       7.000%, 11/15/2018 290,000 345,461
Entergy Corp.
       5.125%, 09/15/2020 310,000 340,663
Entergy Texas, Inc.
       7.125%, 02/01/2019 50,000 59,713
Exelon Generation Company LLC
       6.250%, 10/01/2039 160,000 186,228
Florida Power & Light Company
       5.650%, 02/01/2037 290,000 355,115
Georgia Power Company
       5.950%, 02/01/2039 335,000 414,701
Hydro Quebec
       8.400%, 01/15/2022 250,000 327,072
Indiana Michigan Power Company
       6.050%, 03/15/2037 187,000 229,376
NextEra Energy Capital Holdings, Inc.
       7.875%, 12/15/2015 295,000 319,799
NiSource Finance Corp.
       6.800%, 01/15/2019 380,000 446,987
Oncor Electric Delivery Company LLC
       7.500%, 09/01/2038 188,000 275,205
Pacific Gas & Electric Company
       3.500%, 10/01/2020 60,000 62,449
       6.050%, 03/01/2034 260,000 320,872
PacifiCorp
       6.000%, 01/15/2039 335,000 424,774
Peco Energy Company
       5.000%, 10/10/2014 300,000 300,000
Pennsylvania Electric Company
       5.200%, 04/01/2020 300,000 331,588
PPL Capital Funding, Inc.
       3.400%, 06/01/2023 250,000 246,406
PPL WEM Holdings PLC
       5.375%, 05/01/2021 (S) 60,000 67,366
Progress Energy, Inc.
       4.400%, 01/15/2021 305,000 332,850
       7.050%, 03/15/2019 50,000 59,957
San Diego Gas & Electric Company
       6.125%, 09/15/2037 202,000 260,528
Southern California Edison Company
       5.350%, 07/15/2035 130,000 153,602
Southern Company
       2.375%, 09/15/2015 500,000 508,383
Southwestern Public Service Company
       8.750%, 12/01/2018 255,000 320,744
Virginia Electric and Power Company
       3.450%, 09/01/2022 50,000 51,737
       8.875%, 11/15/2038 190,000 311,382
8,646,310
TOTAL CORPORATE BONDS (Cost $103,411,509) $ 112,071,562
 
MUNICIPAL BONDS - 0.9%
Bay Area Toll Authority (California)
       6.907%, 10/01/2050 50,000 71,114
Illinois State Toll Highway Authority
       6.184%, 01/01/2034 150,000 186,321
Maryland State Transportation Authority
       5.888%, 07/01/2043 60,000 74,386
Metropolitan Washington Airports Authority
       (District of Columbia)
       7.462%, 10/01/2046 40,000 54,087
New Jersey State Turnpike Authority
       7.102%, 01/01/2041 90,000 124,863
New York State Dormitory Authority
       5.628%, 03/15/2039 340,000 404,386
New York State Urban Development Corp.
       5.770%, 03/15/2039 300,000 357,273
North Carolina Turnpike Authority
       6.700%, 01/01/2039 60,000 67,471
State of California
       7.300%, 10/01/2039 400,000 558,072
       7.500%, 04/01/2034 80,000 113,969
State of Illinois, GO
       5.100%, 06/01/2033 115,000 111,601
       7.350%, 07/01/2035 280,000 321,602
State of Texas
       5.517%, 04/01/2039 260,000 322,039
State of Utah
       3.539%, 07/01/2025 390,000 404,106
       4.554%, 07/01/2024 260,000 287,360
State of Washington
       5.481%, 08/01/2039 260,000 312,907
Texas Transportation Commission
       5.178%, 04/01/2030 310,000 362,471
University of California
       5.770%, 05/15/2043 320,000 388,611
TOTAL MUNICIPAL BONDS (Cost $3,853,977) $ 4,522,639
 
COLLATERALIZED MORTGAGE
OBLIGATIONS - 2.5%
Commercial and residential - 2.1%
Banc of America Commercial Mortgage Trust,
       Series 2006-4, Class A4
       5.634%, 07/10/2046 737,699 780,231
Banc of America Commercial Mortgage, Inc.
       Series 2006-5, Class A3,
              5.390%, 09/10/2047 880,000 887,799

The accompanying notes are an integral part of the financial statements. 266


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Total Bond Market Trust B (continued)

Shares or
Principal
Amount Value
COLLATERALIZED MORTGAGE  
OBLIGATIONS (continued)
Commercial and residential (continued)
Banc of America Commercial
Mortgage, Inc. (continued)
       Series 2006-1, Class AM,
              5.421%, 09/10/2045 (P) $ 200,000       $ 209,975
Bear Stearns Commercial Mortgage Securities
       Series 2005-T20, Class A3,
              5.288%, 10/12/2042 (P) 187,045 187,198
       Series 2006-PW11, Class AM,
              5.600%, 03/11/2039 (P) 200,000 210,487
       Series 2006-PW12, Class A4,
              5.890%, 09/11/2038 (P) 927,490 986,571
Citigroup/Deutsche Bank
       Commercial Mortgage Trust
       Series 2006-CD2, Class A4,
              5.480%, 01/15/2046 (P) 170,000 177,068
       Series 2006-CD2, Class AM,
              5.527%, 01/15/2046 (P) 200,000 210,141
JPMorgan Chase Commercial
       Mortgage Securities Corp.
       Series 2005-CB13, Class A3A1,
              5.420%, 01/12/2043 (P) 41,688 41,686
       Series 2005-LDP5, Class A4,
              5.405%, 12/15/2044 (P) 1,695,000 1,744,935
       Series 2006-LDP8, Class AM,
              5.440%, 05/15/2045 485,000 519,659
       Series 2005-LDP4, Class A4,
              4.918%, 10/15/2042 (P) 139,463 142,874
LB Commercial Conduit Mortgage Trust,
       Series 2007-C3, Class A4
       6.101%, 07/15/2044 (P) 180,000 196,947
Merrill Lynch Mortgage Trust
       Series 2008-C1, Class A4,
              5.690%, 02/12/2051 876,048 964,451
       Series 2006-C1, Class AM,
              5.862%, 05/12/2039 (P) 800,000 849,022
Morgan Stanley Capital I, Series 2011,
       Class C10 5.033%, 09/15/2047 (P)(S) 190,000 211,948
Morgan Stanley Capital I Trust,
       Series 2007-T27, Class A4
       5.831%, 06/11/2042 (P) 630,000 691,877
Wachovia Bank Commercial Mortgage Trust
       Series 2004-C11, Class A5,
              5.215%, 01/15/2041 (P) 76,270 76,258
       Series 2005-C17, Class A4,
              5.083%, 03/15/2042 (P) 774,318 776,759
U.S. government agency - 0.4%
Federal Home Loan Mortgage Corp.
       Series K005, Class A2, 4.317%, 11/25/2019 700,000 767,052
       Series K013, Class A2,
              3.974%, 01/25/2021 (P) 700,000 757,404
       Series K712, Class A2, 1.869%, 11/25/2019 700,000 689,541
2,213,997
TOTAL COLLATERALIZED MORTGAGE
OBLIGATIONS (Cost $11,314,566) $ 12,079,883
 
ASSET BACKED SECURITIES - 0.5%
BA Credit Card Trust, Series 2007-A1,
       Class A1 5.170%, 06/15/2019 500,000 545,011
BMW Vehicle Lease Trust, Series 2014-1,
       Class A3 0.730%, 02/21/2017 500,000 499,626
Citibank Credit Card Issuance Trust,
       Series 2008-A1, Class A1
       5.350%, 02/07/2020 500,000 559,988
Detroit Edison Securitization Funding LLC,
       Series 2001-1, Class A6
       6.620%, 03/01/2016 67,361 69,105
Honda Auto Receivables Owner Trust,
       Series 2014-3, Class A3
       0.880%, 06/15/2018 500,000 499,983
Volkswagen Auto Loan Enhanced Trust,
       Series 2012-1, Class A3
       0.850%, 08/22/2016 133,145 133,383
TOTAL ASSET BACKED SECURITIES (Cost $2,321,222) $ 2,307,096
 
SECURITIES LENDING COLLATERAL - 1.8%
John Hancock Collateral
       Investment Trust, 0.1178% (W)(Y) 848,525 8,491,270
TOTAL SECURITIES LENDING
COLLATERAL (Cost $8,491,105) $ 8,491,270
 
SHORT-TERM INVESTMENTS - 4.2%
Money market funds - 4.2%
State Street Institutional U.S. Government
       Money Market Fund, 0.0000% (Y) 20,150,194 20,150,194
TOTAL SHORT-TERM INVESTMENTS (Cost $20,150,194) $ 20,150,194
Total Investments (Total Bond Market Trust B)
       (Cost $478,659,888) - 104.9% $ 501,174,959
Other assets and liabilities, net - (4.9%) (23,490,414 )
TOTAL NET ASSETS - 100.0% $ 477,684,545

Total Return Trust

Shares or
Principal
Amount Value
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS - 38.9%
U.S. government - 13.2%
Treasury Inflation Protected Securities
        0.125%, 01/15/2022 to 07/15/2022 $ 35,967,337       $ 35,140,981  
        0.375%, 07/15/2023 12,490,116 12,361,318
        0.625%, 07/15/2021 5,708,340 5,826,075
        1.125%, 01/15/2021 5,990,270 6,285,572
        1.250%, 07/15/2020 13,219,008 14,038,996
        1.750%, 01/15/2028 24,792,486 27,624,259
        2.000%, 01/15/2026 12,124,040 13,810,033
        2.375%, 01/15/2025 to 01/15/2027 105,868,530 124,343,522
        2.500%, 01/15/2029 21,306,240 26,025,231
        3.625%, 04/15/2028 883,836 1,200,981
        3.875%, 04/15/2029 11,159,533 15,762,840
U.S. Treasury Bonds
        3.125%, 08/15/2044 22,500,000 22,141,395
304,561,203
U.S. government agency - 25.7%
Federal Home Loan Mortgage Corp.
        0.875%, 03/07/2018 1,100,000 1,081,401
        1.000%, 03/08/2017 22,800,000 22,862,312
        1.250%, 08/01/2019 to 10/02/2019 20,100,000 19,536,256
        2.292%, 06/01/2034 (P) 137,898 146,972

The accompanying notes are an integral part of the financial statements. 267


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Total Return Trust (continued)

Shares or
Principal
Amount Value
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS (continued)
U.S. government agency (continued)
Federal Home Loan Mortgage Corp. (continued)
       2.375%, 01/13/2022 $ 2,300,000       $ 2,287,072
       2.691%, 01/01/2029 (P) 86,497 91,339
       3.750%, 03/27/2019 1,700,000 1,841,200
       4.000%, TBA (C) 17,000,000 17,841,918
       4.000%, 09/01/2035 to 09/01/2040 442,654 470,233
       4.500%, TBA (C) 24,000,000 25,822,543
       4.500%, 10/01/2025 to 10/01/2041 878,858 953,096
       5.500%, 04/01/2035 to 07/01/2038 783,469 873,249
       6.000%, 03/01/2016 to 08/01/2038 539,749 608,000
Federal National Mortgage Association
       0.875%, 08/28/2017 to 05/21/2018 10,300,000 10,162,294
       1.125%, 04/27/2017 5,600,000 5,628,353
       1.318%, 06/01/2043 (P) 777,563 798,747
       1.518%, 10/01/2040 (P) 106,648 109,550
       1.875%, 09/18/2018 800,000 808,326
       2.234%, 09/01/2035 (P) 2,535,980 2,688,225
       2.310%, 08/01/2022 700,000 675,061
       2.590%, 07/01/2022 11,542,641 11,464,994
       2.640%, 06/01/2022 6,300,000 6,276,896
       2.870%, 09/01/2027 1,600,000 1,508,308
       2.940%, 07/01/2022 2,568,301 2,610,365
       3.000%, TBA (C) 32,000,000 31,455,936
       3.000%, 04/01/2022 to 08/01/2029 10,902,920 11,256,433
       3.156%, 05/01/2022 9,500,335 9,806,273
       3.330%, 11/01/2021 380,579 397,676
       3.500%, TBA (C) 16,000,000 16,820,002
       3.794%, 05/01/2036 (P) 1,125,506 1,205,520
       4.000%, 08/01/2018 to 08/01/2041 18,328,392 19,516,241
       4.500%, TBA (C) 38,000,000 41,002,961
       4.500%, 04/01/2018 to 07/01/2042 30,521,959 32,983,203
       4.521%, 09/01/2035 (P) 56,240 60,282
       5.000%, TBA (C) 87,500,000 96,376,473
       5.000%, 02/01/2027 to 03/01/2044 4,244,523 4,691,778
       5.141%, 05/01/2035 (P) 130,389 138,707
       5.375%, 06/12/2017 1,600,000 1,785,746
       5.500%, TBA (C) 24,000,000 26,735,129
       5.500%, 03/01/2021 to 07/01/2041 67,105,568 74,997,646
       6.000%, TBA (C) 8,000,000 9,042,874
       6.000%, 12/01/2016 to 05/01/2041 39,227,586 44,261,904
       6.500%, 03/01/2036 to 11/01/2037 23,413 26,416
Government National
       Mortgage Association
       1.625%, 09/20/2021 to 02/20/2032 (P) 1,007,273 1,036,231
       5.000%, 01/15/2035 to 11/15/2039 27,212,479 30,026,612
Small Business Administration
       4.880%, 11/01/2024 53,966 57,872
       5.130%, 09/01/2023 63,606 68,579
       5.520%, 06/01/2024 1,402,941 1,524,777
592,421,981
TOTAL U.S. GOVERNMENT AND AGENCY
OBLIGATIONS (Cost $903,145,700) $ 896,983,184
 
FOREIGN GOVERNMENT
OBLIGATIONS - 17.1%
Brazil - 0.1%
Banco Nacional de Desenvolvimento
       Economico e Social
       3.375%, 09/26/2016 (S) 1,000,000 1,025,000
       4.125%, 09/15/2017 (S) EUR 1,100,000 1,464,936
Canada - 1.7%
Province of Ontario
       1.600%, 09/21/2016 $ 100,000 101,573
       1.650%, 09/27/2019 6,100,000 5,969,594
       3.000%, 07/16/2018 1,800,000 1,885,882
       3.150%, 06/02/2022 CAD 2,100,000 1,934,618
       4.000%, 06/02/2021 1,600,000 1,561,155
       4.200%, 06/02/2020 22,100,000 21,763,947
       4.400%, 04/14/2020 $ 1,100,000 1,219,361
Province of Quebec
       3.500%, 07/29/2020 600,000 638,962
       4.250%, 12/01/2021 CAD 2,500,000 2,471,316
       4.500%, 12/01/2020 700,000 700,575
38,246,983
Italy - 8.0%
Republic of Italy
       0.396%, 04/29/2016 (Z) EUR 14,800,000 18,574,445
       1.150%, 05/15/2017 12,600,000 16,154,744
       2.250%, 05/15/2016 12,100,000 15,743,385
       2.750%, 12/01/2015 17,200,000 22,335,208
       3.000%, 11/01/2015 6,000,000 7,798,710
       3.750%, 08/01/2015 to 08/01/2016 57,000,000 75,942,072
       4.500%, 07/15/2015 5,200,000 6,784,799
       4.750%, 09/15/2016 to 06/01/2017 15,700,000 21,680,802
185,014,165
Mexico - 1.6%
Government of Mexico
       4.000%, 11/15/2040 to 11/08/2046 MXN      152,458,896 12,212,909
       9.500%, 12/18/2014 319,430,000 24,092,450
36,305,359
South Korea - 0.8%
Export-Import Bank of Korea
       4.125%, 09/09/2015 $ 6,400,000 6,598,240
Korea Development Bank
       3.500%, 08/22/2017 1,100,000 1,153,444
       4.375%, 08/10/2015 9,900,000 10,202,445
Korea Housing Finance Corp.
       4.125%, 12/15/2015 (S) 1,100,000 1,138,949
19,093,078
Spain - 4.9%
Autonomous Community of Valencia
       Spain
       4.375%, 07/16/2015 EUR 100,000 129,338
Kingdom of Spain
       2.100%, 04/30/2017 9,600,000 12,632,534
       3.150%, 01/31/2016 5,700,000 7,474,404
       3.250%, 04/30/2016 2,200,000 2,908,060
       3.300%, 07/30/2016 41,400,000 55,129,652
       3.750%, 10/31/2015 18,100,000 23,718,738
       4.250%, 10/31/2016 1,800,000 2,456,711
       5.500%, 07/30/2017 5,900,000 8,493,713
112,943,150
TOTAL FOREIGN GOVERNMENT
OBLIGATIONS (Cost $425,094,559) $ 394,092,671
 
CORPORATE BONDS - 24.8%
Consumer discretionary - 3.7%
DISH DBS Corp.
       4.250%, 04/01/2018 $ 500,000 501,234
       6.625%, 10/01/2014 14,360,000 14,360,000

The accompanying notes are an integral part of the financial statements. 268


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Total Return Trust (continued)

Shares or
Principal
Amount Value
CORPORATE BONDS (continued)
Consumer discretionary (continued)
DISH DBS Corp. (continued)
       7.750%, 05/31/2015 $ 15,600,000       $ 16,126,500
Ford Motor Credit Company LLC
       0.684%, 11/08/2016 (P) 10,300,000 10,295,592
       0.753%, 09/08/2017 (P) 2,100,000 2,102,415
       2.750%, 05/15/2015 1,200,000 1,215,632
       3.984%, 06/15/2016 2,900,000 3,037,179
       5.625%, 09/15/2015 4,900,000 5,123,004
       7.000%, 04/15/2015 800,000 827,520
       8.000%, 12/15/2016 1,100,000 1,251,119
       8.700%, 10/01/2014 500,000 500,000
President and Fellows of Harvard College
       6.500%, 01/15/2039 (S) 21,300,000 29,299,705
84,639,900
Energy - 1.2%
Gazprom OAO
       5.092%, 11/29/2015 (S) 2,000,000 2,032,240
Novatek OAO
       5.326%, 02/03/2016 (S) 1,100,000 1,116,016
Petrobras International Finance Company
       3.875%, 01/27/2016 9,100,000 9,313,850
       5.875%, 03/01/2018 10,000,000 10,795,000
Ras Laffan Liquefied Natural Gas
       Company, Ltd. II
       5.298%, 09/30/2020 (S) 2,328,200 2,514,456
Rosneft Finance SA
       6.625%, 03/20/2017 1,700,000 1,746,750
Woodside Finance, Ltd.
       4.500%, 11/10/2014 (S) 700,000 702,897
28,221,209
Financials - 17.2%
Ally Financial, Inc.
       2.750%, 01/30/2017 13,200,000 12,936,000
       4.625%, 06/26/2015 4,100,000 4,156,990
       6.750%, 12/01/2014 2,600,000 2,619,500
       8.300%, 02/12/2015 6,200,000 6,324,000
American International Group, Inc.
       5.050%, 10/01/2015 800,000 834,984
       5.450%, 05/18/2017 400,000 440,828
Banco Bilbao Vizcaya Argentaria SA
       1.075%, 05/16/2016 7,000,000 7,022,358
Banco de Credito e Inversiones
       3.000%, 09/13/2017 (S) 1,800,000 1,845,205
Banco Santander Brasil SA
       4.500%, 04/06/2015 (S) 600,000 606,750
Bank of America Corp.
       4.500%, 04/01/2015 2,400,000 2,446,658
       6.400%, 08/28/2017 4,300,000 4,838,046
       6.500%, 08/01/2016 15,700,000 17,134,572
       6.875%, 04/25/2018 9,300,000 10,728,350
Bank of America NA
       0.534%, 06/15/2017 (P) 9,200,000 9,136,860
       0.654%, 05/08/2017 (P) 3,200,000 3,200,774
Bank of China Hong Kong, Ltd.
       5.550%, 02/11/2020 (S) 1,200,000 1,290,424
Bank of Montreal
       1.950%, 01/30/2017 (S) 900,000 917,874
       2.850%, 06/09/2015 (S) 1,000,000 1,016,985
Barclays Bank PLC
       0.530%, 05/01/2015 56,500,000 56,490,226
BBVA Bancomer SA
       4.500%, 03/10/2016 (S) 1,400,000 1,459,500
       6.500%, 03/10/2021 (S) 2,900,000 3,161,000
BPCE SA
       0.801%, 11/18/2016 (P) 18,000,000 18,064,188
Caixa Economica Federal
       2.375%, 11/06/2017 (S) 1,800,000 1,746,000
Citigroup, Inc.
       0.502%, 06/09/2016 (P) 9,600,000 9,547,901
       0.760%, 05/01/2017 (P) 26,100,000 26,153,192
       1.250%, 01/15/2016 2,600,000 2,610,358
       3.953%, 06/15/2016 1,000,000 1,050,221
       4.450%, 01/10/2017 500,000 532,767
       4.875%, 05/07/2015 2,500,000 2,562,718
       5.500%, 10/15/2014 1,400,000 1,402,600
       6.125%, 08/25/2036 3,200,000 3,669,011
Credit Suisse/New York
       0.535%, 03/11/2016 (P) 9,800,000 9,795,698
Fifth Third Bancorp
       0.653%, 12/20/2016 (P) 1,200,000 1,197,353
JPMorgan Chase & Company
       0.754%, 02/15/2017 (P) 13,600,000 13,663,988
       0.784%, 04/25/2018 (P) 5,300,000 5,327,952
       1.068%, 05/30/2017 (P) GBP 18,400,000 29,426,469
LBG Capital No.1 PLC (8.500% to
       12/17/2021, then 3 month
       LIBOR + 6.921%)
       12/17/2021 (Q)(S) $ 700,000 754,715
Lloyds TSB Bank PLC (12.000% to
       12/16/2024, then 3 month
       LIBOR + 11.750%)
       12/16/2024 (Q)(S) 14,600,000 21,389,000
Morgan Stanley
       6.000%, 04/28/2015 800,000 824,632
Murray Street Investment Trust I
       4.647%, 03/09/2017 (P) 6,800,000 7,278,897
National Bank of Canada
       2.200%, 10/19/2016 (S) 400,000 410,162
Navient LLC
       5.050%, 11/14/2014 5,000,000 5,000,000
       6.250%, 01/25/2016 11,800,000 12,248,400
Principal Life Income Funding Trusts
       5.550%, 04/27/2015 4,300,000 4,425,951
Prudential Financial, Inc.
       3.875%, 01/14/2015 2,228,000 2,249,903
Rabobank Nederland NV
       0.565%, 04/28/2017 (P) 7,600,000 7,596,101
Sberbank of Russia
       5.499%, 07/07/2015 1,200,000 1,221,972
Springleaf Finance Corp.
       5.400%, 12/01/2015 5,200,000 5,317,000
       6.500%, 09/15/2017 11,500,000 12,103,750
       6.900%, 12/15/2017 9,100,000 9,668,750
State Bank of India
       4.500%, 07/27/2015 (S) 2,900,000 2,975,223
Stone Street Trust
       5.902%, 12/15/2015 (S) 7,500,000 7,946,948
The Bank of Nova Scotia
       1.650%, 10/29/2015 (S) 1,800,000 1,822,590
The Bear Stearns Companies LLC
       7.250%, 02/01/2018 9,600,000 11,169,379
The Blackstone Group LP
       2.324%, 03/18/2019 1,000,000 998,116

The accompanying notes are an integral part of the financial statements. 269


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Total Return Trust (continued)

Shares or
Principal
Amount Value
CORPORATE BONDS (continued)
Financials (continued)
The Royal Bank of Scotland PLC
       1.014%, 10/14/2016 (P) $ 4,200,000       $ 4,194,750
US Bank NA
       0.352%, 04/22/2016 (P) 2,700,000 2,700,724
397,655,263
Health care - 0.1%
Amgen, Inc.
       2.300%, 06/15/2016 1,900,000 1,943,573
Industrials - 0.3%
Con-way, Inc.
       7.250%, 01/15/2018 800,000 920,712
General Electric Capital Corp.
       3.800%, 06/18/2019 (S) 2,100,000 2,237,225
International Lease Finance Corp.
       5.750%, 05/15/2016 800,000 836,000
       6.750%, 09/01/2016 (S) 2,100,000 2,262,750
Odebrecht Drilling Norbe VIII/IX, Ltd.
       6.350%, 06/30/2021 (S) 962,500 990,413
7,247,100
Information technology - 0.1%
Apple, Inc.
       2.850%, 05/06/2021 1,300,000 1,303,908
Materials - 0.5%
Braskem Finance, Ltd.
       5.750%, 04/15/2021 (S) 1,200,000 1,227,600
CSN Islands XI Corp.
       6.875%, 09/21/2019 (S) 4,500,000 4,736,250
Gerdau Holdings, Inc.
       7.000%, 01/20/2020 (S) 2,300,000 2,587,500
MMC Norilsk Nickel OJSC
       5.550%, 10/28/2020 (S) 1,800,000 1,786,500
Rohm & Haas Company
       6.000%, 09/15/2017 603,000 674,495
11,012,345
Telecommunication services - 1.7%
Ooredoo International Finance, Ltd.
       3.375%, 10/14/2016 (S) 200,000 207,000
Verizon Communications, Inc.
       1.984%, 09/14/2018 (P) 1,400,000 1,474,788
       2.500%, 09/15/2016 6,100,000 6,258,722
       3.650%, 09/14/2018 4,500,000 4,742,222
Vodafone Group PLC
       0.412%, 04/10/2015 (Z) 26,300,000 26,242,211
38,924,943
Utilities - 0.0%
Red Oak Power LLC
       8.540%, 11/30/2019 1,060,978 1,145,856
TOTAL CORPORATE BONDS (Cost $538,867,217) $ 572,094,097
  
CAPITAL PREFERRED SECURITIES - 0.2%
Financials - 0.2%
UBS Preferred Funding Trust V (6.243%
       to 05/15/2016, then 3 month
       LIBOR + 1.615%)
       05/15/2016 (Q) 4,700,000 4,946,750
TOTAL CAPITAL PREFERRED
SECURITIES (Cost $4,819,286) $ 4,946,750
MUNICIPAL BONDS - 5.1%
American Municipal Power, Inc. (Ohio)
       8.084%, 02/15/2050 2,700,000 4,168,773
Bay Area Toll Authority (California)
       7.043%, 04/01/2050 4,200,000 6,017,718
California Infrastructure & Economic
       Development Bank
       6.486%, 05/15/2049 1,100,000 1,288,287
California State University
       6.484%, 11/01/2041 2,000,000 2,504,340
California Statewide Communities
       Development Authority
       7.550%, 05/15/2040 2,700,000 3,365,226
Chicago Transit Authority (Illinois)
       6.200%, 12/01/2040 1,300,000 1,481,389
Chicago Transit Authority,
       Series A (Illinois)
       6.300%, 12/01/2021 200,000 218,112
       6.899%, 12/01/2040 3,400,000 4,145,892
Chicago Transit Authority, Series B
       (Illinois)
       6.899%, 12/01/2040 3,300,000 4,023,954
City of Los Angeles (California)
       5.713%, 06/01/2039 1,000,000 1,218,090
City of North Las Vegas (Nevada)
       6.572%, 06/01/2040 11,600,000 10,314,024
County of Clark (Nevada)
       6.820%, 07/01/2045 2,200,000 3,005,464
Dallas Convention Center Hotel
       Development Corp. (Texas)
       7.088%, 01/01/2042 6,900,000 8,665,848
Illinois Municipal Electric Agency
       6.832%, 02/01/2035 2,700,000 3,222,342
Iowa Tobacco Settlement Authority,
       Series A      
       6.500%, 06/01/2023 275,000 275,594
Los Angeles County Public Works
       Financing Authority (California)
       7.488%, 08/01/2033 500,000 645,005
       7.618%, 08/01/2040 5,300,000 7,311,562
Los Angeles Unified School District
       (California)
       6.758%, 07/01/2034 3,300,000 4,401,705
Mississippi Development Bank
       6.313%, 01/01/2033 700,000 805,644
New Jersey State Turnpike Authority
       7.414%, 01/01/2040 9,000,000 12,894,660
New York City Municipal Water Finance
       Authority (New York)
       5.882%, 06/15/2044 3,500,000 4,466,385
       6.282%, 06/15/2042 5,100,000 5,885,247
North Carolina Turnpike Authority
       6.700%, 01/01/2039 3,000,000 3,373,560
Public Power Generation Agency
       (Nebraska)
       7.242%, 01/01/2041 500,000 567,240
State of California
       7.500%, 04/01/2034 4,800,000 6,838,128
       7.550%, 04/01/2039 1,300,000 1,897,584
       7.600%, 11/01/2040 2,600,000 3,845,816
State of Iowa
       6.750%, 06/01/2034 6,400,000 7,309,184
Tobacco Settlement Financing Corp.
       (Rhode Island)
       6.250%, 06/01/2042 500,000 498,835

The accompanying notes are an integral part of the financial statements. 270


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Total Return Trust (continued)

Shares or
Principal
Amount Value
MUNICIPAL BONDS (continued)
University of California
       6.398%, 05/15/2031 $ 3,300,000       $ 4,005,540
TOTAL MUNICIPAL BONDS (Cost $99,165,650) $ 118,661,148
 
TERM LOANS (M) - 0.5%
Health care - 0.3%
Community Health Systems, Inc.
       3.485%, 01/25/2017 3,989,950 3,965,567
HCA, Inc.
       2.904%, 03/31/2017 2,593,451 2,574,000
6,539,567
Consumer discretionary - 0.1%
Chrysler Group LLC TBD 05/24/2017 (T) 3,092,010 3,065,923
Utilities - 0.1%
Energy Future Intermediate Holding
       Company LLC
       4.250%, 06/19/2016 2,796,194 2,777,552
TOTAL TERM LOANS (Cost $12,502,023) $ 12,383,042
 
COLLATERALIZED MORTGAGE
OBLIGATIONS - 7.0%
Commercial and residential - 6.3%
American Home Mortgage
       Investment Trust, Series 2004-4,
       Class 4A
       2.331%, 02/25/2045 (P) 534,930 540,023
Arran Residential Mortgages
       Funding PLC, Series 2010-1A,
       Class A2B
       1.598%, 05/16/2047 (P)(S) EUR 2,990,597 3,814,866
Banc of America Funding, Ltd.,
       Series 2012-R5, Class A
       0.417%, 10/03/2039 (P)(S) $ 9,198,200 9,148,181
Bank of America Funding Corp.
       Series 2005-D, Class A1,
              2.631%, 05/25/2035 (P) 693,716 710,905
       Series 2004-A, Class 1A3,
              2.641%, 09/20/2034 (P) 77,229 77,123
Bank of America Mortgage
       Securities Trust, Series 2004-2,
       Class 5A1
       6.500%, 10/25/2031 7,100 7,465
BCAP LLC Trust
       Series 2011-RR4, Class 8A1,
              5.250%, 02/26/2036 (S) 2,413,686 2,213,365
       Series 2011-RR5, Class 12A1,
              5.050%, 03/26/2037 (P)(S) 500,751 493,281
       Series 2011-RR5, Class 5A1,
              5.250%, 08/26/2037 (S) 4,945,502 5,143,831
Bear Stearns Adjustable
       Rate Mortgage Trust
       Series 2004-9, Class 22A1,
              3.034%, 11/25/2034 (P) 524,891 529,563
       Series 2005-2, Class A1,
              2.580%, 03/25/2035 (P) 7,013,742 7,084,188
       Series 2002-11, Class 1A2,
              2.668%, 02/25/2033 (P) 101,434 95,916
       Series 2003-8, Class 2A1,
              2.740%, 01/25/2034 (P) 480,583 494,838
       Series 2004-3, Class 1A2,
              2.753%, 07/25/2034 (P) 36,803 36,896
       Series 2004-6, Class 1A1,
              2.339%, 09/25/2034 (P) 71,649 64,368
       Series 2004-7, Class 1A1,
              2.544%, 10/25/2034 (P) 46,630 41,996
Bear Stearns Alt-A Trust
       Series 2005-7, Class 22A1,
              2.617%, 09/25/2035 (P) 1,135,316 986,151
       Series 2006-8, Class 3A1,
              0.315%, 02/25/2034 (P) 1,298,331 1,195,385
       Series 2004-9, Class 2A1,
              2.452%, 09/25/2034 (P) 81,752 73,987
       Series 2005-4, Class 23A1,
              2.555%, 05/25/2035 (P) 1,909,321 1,868,663
Bear Stearns Commercial Mortgage
       Securities Trust, Series 2007-PW18,
       Class A4
       5.700%, 06/11/2050 4,200,000 4,614,511
Citigroup Mortgage Loan Trust, Inc.
       Series 2005-11, Class A2A,
              2.514%, 10/25/2035 (P) 312,959 312,518
       Series 2005-6, Class A1,
              2.200%, 09/25/2035 (P) 6,251,610 6,288,620
Countrywide Alternative Loan Trust
       Series 2004-27CB, Class A1,
              6.000%, 12/25/2034 5,491,016 5,498,462
       Series 2007-OA6, Class A1B,
              0.355%, 06/25/2037 (P) 9,030,446 7,760,792
       Series 2003-J3, Class 2A1,
              6.250%, 12/25/2033 16,554 17,126
Countrywide Home Loan Mortgage
       Pass Through Trust
       Series 2004-22, Class A3,
              2.493%, 11/25/2034 (P) 1,389,636 1,308,709
       Series 2004-HYB9, Class 1A1,
              2.469%, 02/20/2035 (P) 2,251,724 2,235,787
       Series 2005-3, Class 1A2,
              0.445%, 04/25/2035 (P) 281,158 260,431
       Series 2003-R4, Class 2A,
              5.769%, 01/25/2034 (P)(S) 112,506 116,402
       Series 2004-12, Class 11A2,
              2.624%, 08/25/2034 (P) 43,351 40,204
       Series 2005-HYB9, Class 3A2A,
              2.313%, 02/20/2036 (P) 356,217 328,787
Credit Suisse Commercial Mortgage Trust,
       Series 2006-C5, Class A1A
       5.297%, 12/15/2039 2,406,374 2,570,977
Credit Suisse First Boston Mortgage
       Securities Corp., Series 2004-AR8,
       Class 2A1
       2.454%, 09/25/2034 (P) 113,503 114,019
Credit Suisse Mortgage Capital
       Certificates, Series 2007-C5, Class A4
       5.695%, 09/15/2040 (P) 11,200,000 12,165,720
CSMC, Series 2010-18, Class R
       2.465%, 04/26/2038 (P)(S) 2,100,000 2,042,114
European Loan Conduit, Series 25X,
       Class A
       0.348%, 05/15/2019 (P) EUR 93,176 116,097

The accompanying notes are an integral part of the financial statements. 271


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Total Return Trust (continued)

Shares or
Principal
Amount Value
COLLATERALIZED MORTGAGE
OBLIGATIONS (continued)
Commercial and residential (continued)
First Nationwide Trust, Series 2001-3,
       Class 1A1
       6.750%, 08/21/2031 $ 1,719       $ 1,772
GMAC Mortgage Corp Loan Trust,
       Series 2005-AR6, Class 3A1
       2.904%, 11/19/2035 (P) 398,032 386,564
Greenwich Capital
       Commercial Funding Corp.
       Series 2005-GG3, Class A4,
              4.799%, 08/10/2042 (P) 128,974 129,225
       Series 2007-GG9, Class A4,
              5.444%, 03/10/2039 1,600,000 1,723,384
GSR Mortgage Loan Trust,
       Series 2005-AR7, Class 6A1
       5.002%, 11/25/2035 (P) 961,948 954,083
HarborView Mortgage Loan Trust,
       Series 2005-2, Class 2A1A
       0.373%, 05/19/2035 (P) 412,914 352,992
HomeBanc Mortgage Trust, Series 2005-4,
       Class A1
       0.425%, 10/25/2035 (P) 6,059,230 5,445,545
Impac CMB Trust, Series 2004-6,
       Class 1A2
       0.935%, 10/25/2034 (P) 8,863,122 8,192,769
IndyMac ARM Trust, Series 2001-H2,
       Class A2
       1.707%, 01/25/2032 (P) 6,251 6,061
JPMorgan Chase Commercial
       Mortgage Securities Corp.
       Series 2007-LD12, Class A4,
              5.882%, 02/15/2051 (P) 1,200,000 1,306,354
       Series 2007-LDPX, Class A3,
              5.420%, 01/15/2049 473,069 509,661
JPMorgan Mortgage Trust
       Series 2005-A1, Class 6T1,
              2.646%, 02/25/2035 (P) 236,283 234,342
       Series 2005-S3, Class 1A2,
              5.750%, 01/25/2036 153,047 142,232
Mellon Residential Funding Corp.,
       Series 2000-TBC2, Class A1
       0.634%, 06/15/2030 (P) 848,208 830,323
Merrill Lynch Mortgage Investors Trust
       Series 2005-2, Class 1A,
              1.572%, 10/25/2035 (P) 5,601,289 5,524,294
       Series 2005-2, Class 3A,
              1.153%, 10/25/2035 (P) 388,193 369,777
       Series 2005-3, Class 5A,
              0.405%, 11/25/2035 (P) 630,019 613,322
       Series 2005-A10, Class A,
              0.365%, 02/25/2036 (P) 822,821 756,935
       Series 2005-A6, Class 2A3,
              0.535%, 08/25/2035 (P) 3,200,000 2,966,026
Merrill Lynch/Countrywide Commercial
       Mortgage Trust, Series 2007-6,
       Class A4
       5.485%, 03/12/2051 (P) 1,300,000 1,409,281
Morgan Stanley Capital I Trust,
       Series 2007-IQ14, Class A2FX
       5.610%, 04/15/2049 1,027,938 1,030,490
Morgan Stanley Re-REMIC Trust,
       Series 2009-GG10, Class A4A
       5.991%, 08/12/2045 (P)(S) 1,130,685 1,229,635
Nomura Asset Acceptance Corp.,
       Series 2004-R1, Class A2
       7.500%, 03/25/2034 (S) 167,341 179,577
Prime Mortgage Trust
       Series 2004-CL1, Class 1A2,
              0.555%, 02/25/2034 (P) 148,267 138,949
       Series 2004-CL1, Class 2A2,
              0.555%, 02/25/2019 (P) 1,337 1,316
RBSSP Resecuritization Trust
       Series 2011-3, Class 2A1,
              0.405%, 02/26/2037 (P)(S) 3,384,740 3,162,505
       Series 2011-4, Class 6A1,
              0.395%, 06/27/2036 (P)(S) 3,200,000 2,713,728
Residential Asset Securitization Trust,
       Series 2005-A1, Class A1
       5.500%, 04/25/2035 8,462,286 8,611,840
Residential Funding Mortgage
       Securities I Trust, Series 2004-S9,
       Class 1A23
       5.500%, 12/25/2034 300,000 312,203
Structured Adjustable Rate Mortgage
       Loan Trust, Series 2004-8, Class 3A
       2.437%, 07/25/2034 (P) 131,212 131,989
Structured Asset
       Mortgage Investments, Inc.
       Series 2005-AR2, Class 2A1,
              0.385%, 05/25/2045 (P) 33,521 30,479
       Series 2005-AR5, Class A3,
              0.403%, 07/19/2035 (P) 1,467,264 1,363,896
Structured Asset Securities Corp.
       Series 2001-21A, Class 1A1,
              2.218%, 01/25/2032 (P) 10,958 10,636
       Series 2002-1A, Class 4A,
              2.516%, 02/25/2032 (P) 14,078 13,834
       Series 2006-11, Class A1,
              2.604%, 10/28/2035 (P)(S) 454,568 431,109
Wachovia Bank Commercial
       Mortgage Trust, Series 2007-WHL8,
       Class A1
       0.234%, 06/15/2020 (P)(S) 535,732 533,102
WaMu Mortgage Pass-
       Through Certificates
       Series 2002-AR17, Class 1A,
              1.315%, 11/25/2042 (P) 155,135 151,968
       Series 2002-AR2, Class A,
              1.926%, 02/27/2034 (P) 50,070 49,590
       Series 2002-AR6, Class A,
              1.515%, 06/25/2042 (P) 6,642 6,440
       Series 2002-AR9, Class 1A,
              1.515%, 08/25/2042 (P) 512,229 494,322
       Series 2005-AR13, Class A1A1,
              0.445%, 10/25/2045 (P) 367,376 351,077
       Series 2005-AR2, Class 2A1A,
              0.465%, 01/25/2045 (P) 21,313 20,352
       Series 2005-AR6, Class 2A1A,
              0.385%, 04/25/2045 (P) 37,257 35,531
Washington Mutual MSC Mortgage Pass-
       Through CTFS, Series 2003-AR1,
       Class 2A
       2.027%, 02/25/2033 (P) 83,426 83,333

The accompanying notes are an integral part of the financial statements. 272


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Total Return Trust (continued)

Shares or  
Principal
Amount Value
COLLATERALIZED MORTGAGE
OBLIGATIONS (continued)
Commercial and residential (continued)
Wells Fargo Mortgage
       Backed Securities Trust
       Series 2004-CC, Class A1,
              2.615%, 01/25/2035 (P) $ 1,061,166       $ 1,065,083
       Series 2006-AR10, Class 1A1,
              2.610%, 07/25/2036 (P) 3,563,743 3,462,932
       Series 2006-AR2, Class 2A1,
              2.615%, 03/25/2036 (P) 1,547,096 1,548,811
       Series 2006-AR2, Class 2A5,
              2.615%, 03/25/2036 (P) 4,641,289 4,481,647
143,913,583
U.S. government agency - 0.7%
Federal Home Loan Mortgage Corp.
       Series 2204, Class Z,
              7.500%, 12/20/2029 391,257 444,396
       Series 2247, Class Z,
              7.500%, 08/15/2030 184,394 212,663
       Series 2362, Class ZA,
              6.500%, 09/15/2031 237,526 263,627
       Series 2503, Class PZ,
              6.000%, 09/15/2032 855,397 937,047
       Series 2906, Class GZ,
              5.000%, 09/15/2034 485,953 531,295
       Series 2935, Class HJ,
              5.000%, 02/15/2035 400,000 431,121
       Series 2941, Class WE,
              5.000%, 03/15/2035 274,476 299,374
       Series 3149, Class LF,
              0.454%, 05/15/2036 (P) 1,019,421 1,025,509
       Series 3335, Class BF,
              0.304%, 07/15/2019 (P) 499,147 500,044
       Series 3335, Class FT,
              0.304%, 08/15/2019 (P) 1,354,383 1,356,784
       Series T-63, Class 1A1,
              1.318%, 02/25/2045 (P) 161,265 163,502
       Series 2489, Class PE,
              6.000%, 08/15/2032 234,733 264,000
Federal National Mortgage Association
       Series 2002-56, Class ZQ,
              6.000%, 09/25/2032 3,140,117 3,468,049
       Series 2003-116, Class FA,
              0.555%, 11/25/2033 (P) 98,181 98,826
       Series 2003-W1, Class 1A1,
              5.883%, 12/25/2042 (P) 273,637 306,595
       Series 2004-11, Class A,
              0.275%, 03/25/2034 (P) 20,381 20,287
       Series 2004-T1, Class 1A1,
              6.000%, 01/25/2044 93,401 104,947
       Series 2005-75, Class FL,
              0.605%, 09/25/2035 (P) 2,531,555 2,550,225
       Series 2005-9, Class ZA,
              5.000%, 02/25/2035 802,249 876,709
       Series 2006-5, Class 3A2,
              2.202%, 05/25/2035 (P) 163,837 167,345
       Series 2007-30, Class AF,
              0.465%, 04/25/2037 (P) 1,012,858 1,015,380
       Series 2007-73, Class A1,
              0.215%, 07/25/2037 (P) 98,668 96,723
Government National
       Mortgage Association
       Series 2004-105, Class JZ,
              5.000%, 12/20/2034 161,984 162,683
       Series 2005-21, Class Z,
              5.000%, 03/20/2035 1,279,810 1,427,892
       Series 2005-3, Class JZ,
              5.000%, 01/16/2035 161,984 166,936
       Series 2005-3, Class KZ,
              5.000%, 01/16/2035 161,312 166,063
17,058,022
TOTAL COLLATERALIZED MORTGAGE
OBLIGATIONS (Cost $154,473,545) $ 160,971,605
 
ASSET BACKED SECURITIES - 3.4%
Chrysler Capital Auto Receivables Trust
       0.200%, 10/15/2015 (S) 9,400,000 9,400,301
Countrywide Asset-Backed Certificates
       Series 2004-10, Class MV2,
              1.160%, 01/25/2035 (P) 3,312,114 3,308,895
       Series 2005-14, Class 3A3,
              0.505%, 04/25/2036 (P) 2,340,046 2,296,921
       Series 2006-3, Class 2A2,
              0.335%, 06/25/2036 (P) 2,283,706 2,224,899
Credit-Based Asset Servicing and
       Securitization LLC, Series 2007-CB6,
       Class A3
       0.375%, 07/25/2037 (P)(S) 7,542,724 5,008,934
EMC Mortgage Loan Trust,
       Series 2001-A Class A
       0.895%, 05/25/2040 (P)(S) 623,762 563,596
GSAA Trust, Series 2005-7, Class AF4
       5.058%, 05/25/2035 (P) 5,158,000 4,624,328
Hillmark Funding, Series 2006-1A,
       Class A1
       0.484%, 05/21/2021 (P)(S) 8,921,561 8,815,858
Long Beach Mortgage Loan Trust,
       Series 2004-4, Class 1A1
       0.715%, 10/25/2034 (P) 86,584 78,726
Mastr Asset Backed Securities Trust
       Series 2005-WF1, Class M2,
              0.585%, 06/25/2035 (P) 2,700,000 2,524,152
       Series 2006-NC2, Class A3,
              0.265%, 08/25/2036 (P) 5,356,066 2,840,900
Morgan Stanley ABS Capital I, Inc. Trust,
       Series 2006-WMC1, Class A2C
       0.465%, 12/25/2035 (P) 5,068,729 4,551,962
Morgan Stanley Home Equity Loan Trust,
       Series 2007-2, Class A2
       0.325%, 04/25/2037 (P) 2,395,254 1,534,228
New Century Home Equity Loan Trust
       Series 2005-4, Class M2,
              0.665%, 09/25/2035 (P) 1,100,000 955,912
       Series 2005-C, Class A2C,
              0.405%, 12/25/2035 (P) 3,441,456 3,363,572
Park Place Securities, Inc.
       Series 2005-WCW3, Class M1,
              0.635%, 08/25/2035 (P) 1,000,000 922,405
       Series 2005-WCW3, Class M2,
              0.645%, 08/25/2035 (P) 3,400,000 2,629,835
Penta CLO SA, Series 2007-1X, Class A1
       0.614%, 06/04/2024 (P) EUR 1,065,138 1,325,547
RASC Trust, Series 2005-KS4, Class M2
       0.735%, 05/25/2035 (P) $ 3,404,000 3,218,540

The accompanying notes are an integral part of the financial statements. 273


John Hancock Variable Insurance Trust

PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)


Total Return Trust (continued)

Shares or        
Principal
Amount Value
ASSET BACKED SECURITIES (continued)
Securitized Asset Backed
       Receivables LLC Trust,
       Series 2006-FR3, Class A3
       0.405%, 05/25/2036 (P) $ 4,261,653 $ 2,535,138
SLM Student Loan Trust  
       Series 2008-9, Class A,
              1.734%, 04/25/2023 (P) 8,673,054 8,989,074  
       Series 2010-C, Class A2,
              2.804%, 12/16/2019 (P)(S) 706,545 718,264
Soundview Home Equity Loan Trust,  
       Series 2007-OPT1, Class 2A1
       0.235%, 06/25/2037 (P) 497,348 296,420
Specialty Underwriting & Residential  
       Finance Trust, Series 2005-BC2,
       Class M3
       0.805%, 12/25/2035 (P) 5,200,000 4,786,262
TOTAL ASSET BACKED SECURITIES (Cost $75,184,069) $ 77,514,669
       
COMMON STOCKS - 0.0%
Financials - 0.0%
Rescap Liquidating Trust (I) 11 176
TOTAL COMMON STOCKS (Cost $57) $ 176
             
PREFERRED SECURITIES - 1.1%
Financials - 1.1%
Sovereign Real Estate
       Investment Trust, 12.000% (S) 5,520 $ 7,424,400
Wells Fargo & Company,
       Series L, 7.500% 14,800 17,797,148
TOTAL PREFERRED SECURITIES (Cost $26,824,900) $ 25,221,548
             
COMMERCIAL PAPER - 2.5%
Consumer staples - 0.1%
BAT International Finance PLC
       0.290%, 10/17/2014* $ 3,100,000 $ 3,099,600
Utilities - 0.2%
Commonwealth Edison Company
       0.270%, 10/16/2014* 4,700,000 4,699,471
Consumer discretionary - 0.6%
Cox Enterprises, Inc.
       0.270%, 10/16/2014* 5,000,000 4,999,438
Volkswagen Auto Lease Trust
       0.270%, 10/27/2014* 9,500,000 9,498,148
14,497,586
Materials - 0.6%
Glencore Funding LLC
       0.330%, 10/22/2014* 13,600,000 13,597,382
Information technology - 1.0%
Hitachi America
       0.320%, 10/15/2014* 22,900,000 22,897,150
TOTAL COMMERCIAL PAPER (Cost $58,791,189) $ 58,791,189
       
SHORT-TERM INVESTMENTS - 9.4%
Certificate of deposit - 1.0%
Credit Suisse New York
       0.464%, 03/17/2015* 2,000,000 1,999,798
Itau Unibanco Holding SA
       1.455%, 10/31/2014* 20,000,000 19,982,600
21,982,398
Foreign government - 5.3%
Government of Mexico
       2.732%, 12/11/2014 * MXN 69,720,000 $ 5,161,009
       2.842%, 01/22/2015 * 352,400,000 25,995,289
       2.869%, 11/13/2014 * 24,800,000 1,840,080
       2.885%, 02/19/2015 * 79,262,000 5,832,475
       2.924%, 02/05/2015 * 364,800,000 26,877,127
Japan Treasury Discount Bill
       0.003%, 03/10/2015 * JPY 60,000,000 547,064
       0.003%, 12/15/2014 * 612,000,000 55,800,785
122,053,829
Repurchase agreement - 3.1%
Repurchase Agreement with Royal Bank
       of Canada dated 09/30/2014 at 0.000%
       to be repurchased at $50,000,000 on
       10/01/2014, collateralized by
       $51,258,000 U.S. Treasury Notes,
       1.500 - 2.00% due 12/31/2018 -
       02/28/2021 (valued at $51,037,902,
       including interest) $ 50,000,000 50,000,000
Repurchase Agreement with State
       Street Corp. dated 09/30/2014 at
       0.000% to be repurchased at
       $22,148,000 on 10/01/2014,
       collateralized by $22,400,000 Federal
       Home Loan Mortgage Corp., 1.680%
       due 11/19/2018 (valued at $22,596,000,
       including interest) 22,148,000 22,148,000
72,148,000
TOTAL SHORT-TERM INVESTMENTS (Cost $218,881,783) $ 216,184,227
Total Investments (Total Return Trust)
       (Cost $2,517,749,978) - 110.0% $ 2,537,844,306
Other assets and liabilities, net - (10.0%) (231,509,471 )
TOTAL NET ASSETS - 100.0% $ 2,306,334,835
  
Total Stock Market Index Trust
 
Shares or
Principal
Amount Value
COMMON STOCKS - 99.3%
Consumer discretionary - 12.8%
Auto components - 0.5%
American Axle &
      Manufacturing Holdings, Inc. (I) 1,888 $ 31,662
Autoliv, Inc. (L) 2,279 209,486
BorgWarner, Inc. 5,428 285,567
Cooper Tire & Rubber Company 1,494 42,878
Dana Holding Corp. 3,498 67,057
Dorman Products, Inc. (I)(L) 912 36,535
Drew Industries, Inc. 570 24,048
Exide Technologies (I) 2,107 348
Federal-Mogul Holdings Corp. (I) 3,688 54,841
Fox Factory Holding Corp. (I) 1,016 15,748
Fuel Systems Solutions, Inc. (I) 460 4,099
Gentex Corp. 3,389 90,724
Gentherm, Inc. (I) 952 40,203
Icahn Enterprises LP 2,666 282,169
Johnson Controls, Inc. 16,409 721,996

The accompanying notes are an integral part of the financial statements. 274


John Hancock Variable Insurance Trust

PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Total Stock Market Index Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Auto components (continued)
Lear Corp. 1,908         $ 164,870
Modine Manufacturing Company (I) 1,300 15,431
Motorcar Parts of America, Inc. (I) 567 15,428
Shiloh Industries, Inc. (I) 550 9,356
Standard Motor Products, Inc. 572 19,694
Stoneridge, Inc. (I) 901 10,154
Strattec Security Corp. 197 16,026
Superior Industries International, Inc. 865 15,163
Sypris Solutions, Inc. 379 1,247
Tenneco, Inc. (I) 1,435 75,065
The Goodyear Tire & Rubber Company 5,874 132,664
Tower International, Inc. (I) 623 15,693
TRW Automotive Holdings Corp. (I) 2,797 283,196
UQM Technologies, Inc. (I)(L) 2,453 3,459
Visteon Corp. (I) 1,239 120,493
2,805,300
Automobiles - 0.6%
Ford Motor Company 94,519 1,397,872
General Motors Company 37,533 1,198,804
Harley-Davidson, Inc. 5,312 309,158
Tesla Motors, Inc. (I) 2,977 722,458
Thor Industries, Inc. 1,235 63,603
Winnebago Industries, Inc. (I) 747 16,262
3,708,157
Distributors - 0.1%
Core-Mark Holding Company, Inc. 592 31,400
Educational Development Corp. 1,013 4,690
Genuine Parts Company 3,663 321,282
LKQ Corp. (I) 7,110 189,055
Pool Corp. 1,169 63,032
VOXX International Corp. (I) 862 8,017
Weyco Group, Inc. 372 9,341
626,817
Diversified consumer services - 0.2%
American Public Education, Inc. (I) 453 12,226
Apollo Education Group, Inc. (I) 2,755 69,288
Ascent Capital Group, Inc., Class A (I) 363 21,853
Bridgepoint Education, Inc. (I) 1,121 12,510
Bright Horizons Family Solutions, Inc. (I) 1,463 61,534
Capella Education Company 323 20,220
Career Education Corp. (I) 1,814 9,215
Chegg, Inc. (I)(L) 2,115 13,198
Collectors Universe, Inc. 520 11,440
Corinthian Colleges, Inc. (I)(L) 2,076 229
DeVry Education Group, Inc. 1,447 61,946
Education Management Corp. (I)(L) 3,020 3,292
Graham Holdings Company, Class B 172 120,329
Grand Canyon Education, Inc. (I) 1,133 46,192
H&R Block, Inc. 6,513 201,968
Houghton Mifflin Harcourt Company (I) 3,348 65,085
ITT Educational Services, Inc. (I)(L) 608 2,608
K12, Inc. (I)(L) 1,084 17,301
Learning Tree International, Inc. (I) 519 1,214
LifeLock, Inc. (I) 2,000 28,580
Lincoln Educational Services Corp. 678 1,905
Regis Corp. 1,321 21,083
Service Corp. International 5,207 110,076
Sotheby’s 1,604 57,295
Steiner Leisure, Ltd. (I) 379 14,247
Strayer Education, Inc. (I) 266 15,928
Universal Technical Institute, Inc. 601 5,619
Weight Watchers International, Inc. (I)(L) 1,290 35,398
1,041,779
Hotels, restaurants and leisure - 2.2%
Ambassadors Group, Inc. (I) 714 2,642
ARAMARK Holdings Corp. 5,274 138,706
Bally Technologies, Inc. (I) 954 76,988
BJ’s Restaurants, Inc. (I) 673 24,221
Bloomin’ Brands, Inc. (I) 2,978 54,617
Bob Evans Farms, Inc. (L) 638 30,203
Boyd Gaming Corp. (I) 2,796 28,407
Bravo Brio Restaurant Group, Inc. (I) 563 7,302
Brinker International, Inc. 1,629 82,737
Buffalo Wild Wings, Inc. (I) 478 64,181
Burger King Worldwide, Inc. (L) 8,261 245,021
Caesars Entertainment Corp. (I)(L) 3,301 41,527
Carnival Corp. 14,093 566,116
Carrols Restaurant Group, Inc. (I) 1,012 7,195
Cedar Fair LP 1,413 66,793
Chipotle Mexican Grill, Inc. (I) 735 489,944
Choice Hotels International, Inc. 1,424 74,048
Churchill Downs, Inc. 455 44,363
Chuy’s Holdings, Inc. (I) 526 16,511
ClubCorp Holdings, Inc. 1,666 33,037
Cracker Barrel Old Country Store, Inc. 600 61,914
Darden Restaurants, Inc. (L) 3,087 158,857
Del Frisco’s Restaurant Group, Inc. (I)(L) 746 14,278
Diamond Resorts International, Inc. (I) 1,862 42,379
DineEquity, Inc. 453 36,960
Domino’s Pizza, Inc. 1,357 104,435
Dover Downs Gaming
       & Entertainment, Inc. (I) 2,511 2,486
Dunkin’ Brands Group, Inc. 2,520 112,946
Einstein Noah Restaurant Group, Inc. 822   16,572
Eldorado Resorts, Inc. (I) 755 3,209
Extended Stay America, Inc. 4,390 104,219
Famous Dave’s of America, Inc. (I) 354 9,530
Fiesta Restaurant Group, Inc. (I) 623   30,951
Hilton Worldwide Holdings, Inc. (I) 23,481 578,337
Hyatt Hotels Corp., Class A (I) 3,677 222,532
Ignite Restaurant Group, Inc. (I) 1,066 6,396
International Game Technology 6,105 102,991
International Speedway Corp., Class A 1,141 36,101
Interval Leisure Group, Inc. 1,455 27,718
Isle of Capri Casinos, Inc. (I) 996 7,470
Jack in the Box, Inc. 1,138 77,600
Jamba, Inc. (I) 541 7,693
Krispy Kreme Doughnuts, Inc. (I) 1,678 28,794
Las Vegas Sands Corp. 19,655 1,222,738
Life Time Fitness, Inc. (I) 1,011 50,995
Luby’s, Inc. (I) 958 5,097
Marriott International, Inc., Class A 7,170 501,183
Marriott Vacations Worldwide Corp. (I) 845 53,581
McDonald’s Corp. 23,770 2,253,634
MGM Resorts International (I) 11,748 267,619
Morgans Hotel Group Company (I) 1,054 8,506
Multimedia Games Holding Company, Inc. (I) 748 26,935
Nathan’s Famous, Inc. (I) 239 16,178
Noodles & Company (I) 785 15,064
Norwegian Cruise Line Holdings, Ltd. (I) 4,863 175,165
Panera Bread Company, Class A (I) 709 115,368
Papa John’s International, Inc. 1,112 44,469
Penn National Gaming, Inc. (I) 1,750 19,618
Pinnacle Entertainment, Inc. (I) 1,364 34,223

The accompanying notes are an integral part of the financial statements. 275


John Hancock Variable Insurance Trust

PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)


Total Stock Market Index Trust (continued)

Shares or
Principal
Amount         Value
COMMON STOCKS (continued)
Hotels, restaurants and leisure (continued)
Popeyes Louisiana Kitchen, Inc. (I) 656 $ 26,568
Potbelly Corp. (I) 678 7,905
RCI Hospitality Holdings, Inc. (I) 508 5,598
Red Robin Gourmet Burgers, Inc. (I) 383 21,793
Royal Caribbean Cruises, Ltd. 5,278 355,157
Ruby Tuesday, Inc. (I) 1,530 9,012
Ruth’s Hospitality Group, Inc. 1,218 13,447
Scientific Games Corp., Class A (I)(L) 2,110 22,725
SeaWorld Entertainment, Inc. 2,292 44,075
Six Flags Entertainment Corp. 2,270   78,065
Sonic Corp. (I) 1,141 25,513
Speedway Motorsports, Inc. 1,275 21,752
Starbucks Corp. 17,995 1,357,903
Starwood Hotels & Resorts Worldwide, Inc. 4,638 385,928
Texas Roadhouse, Inc. 1,780   49,555
The Cheesecake Factory, Inc. 1,368 62,244
The Marcus Corp. 1,040 16,432
The Wendy’s Company 9,313 76,925
Town Sports International Holdings, Inc. 871 5,836
Vail Resorts, Inc. 847 73,486
Wyndham Worldwide Corp. 3,165 257,188
Wynn Resorts, Ltd. 2,431 454,791
Yum! Brands, Inc. 10,624 764,716
12,835,914
Household durables - 0.5%
Beazer Homes USA, Inc. (I) 590 9,900
Blyth, Inc. (L) 424 3,443
Cavco Industries, Inc. (I) 228 15,504
CSS Industries, Inc. 310 7,518
D.R. Horton, Inc. 7,767 159,379
Ethan Allen Interiors, Inc. 771 17,579
Harman International Industries, Inc. 1,598 156,668
Helen of Troy, Ltd. (I) 851 44,695
Hovnanian Enterprises, Inc., Class A (I)(L) 3,216 11,803
iRobot Corp. (I)(L) 671 20,432
Jarden Corp. (I) 3,017 181,352
KB Home (L) 2,395 35,781
Kid Brands, Inc. (I) 1,087 2
La-Z-Boy, Inc. 1,265 25,034
Leggett & Platt, Inc. 3,381 118,065
Lennar Corp., Class A 4,628 179,705
Libbey, Inc. (I) 573 15,047
M/I Homes, Inc. (I) 794 15,737
MDC Holdings, Inc. (L) 1,172 29,675
Meritage Homes Corp. (I) 836 29,678
Mohawk Industries, Inc. (I) 1,719 231,756
NACCO Industries, Inc., Class A 208 10,344
Newell Rubbermaid, Inc. 6,880 236,741
NVR, Inc. (I) 111 125,432
PulteGroup, Inc. 9,330 164,768
Skullcandy, Inc. (I) 724 5,640
Standard Pacific Corp. (I) 6,946 52,026
Taylor Morrison Home Corp., Class A (I) 3,050 49,471
Tempur Sealy International, Inc. (I) 1,438 80,772
The Ryland Group, Inc. 1,096 36,431
Toll Brothers, Inc. (I) 4,194 130,685
TRI Pointe Homes, Inc. (I) 986 12,759
Tupperware Brands Corp. 1,244 85,886
Universal Electronics, Inc. (I) 417 20,587
Whirlpool Corp. 1,879 273,676
William Lyon Homes, Class A (I) 882 19,492
2,613,463
Internet and catalog retail - 1.3%
1-800-Flowers.com, Inc., Class A (I) 2,046 14,711
Amazon.com, Inc. (I) 11,020 3,553,289
Blue Nile, Inc. (I) 298 8,508
CafePress, Inc. (I) 462 1,446
Coupons.com, Inc. (I) 1,821 21,779
Expedia, Inc. 3,163 277,142
Gaiam, Inc., Class A (I) 955 7,010
Groupon, Inc. (I)(L) 16,033 107,100
HomeAway, Inc. (I) 2,080 73,840
HSN, Inc. 1,254 76,958
Lands’ End, Inc. (I) 774 31,827
Liberty Interactive Corp., Series A (I) 13,494 384,849
Liberty Tripadvisor Holdings, Inc. (I) 1,688 57,223
Liberty Ventures, Series A (I) 1,688 64,076
Netflix, Inc. (I) 1,432 646,090
Nutrisystem, Inc. 805 12,373
Orbitz Worldwide, Inc. (I) 2,566 20,194
Overstock.com, Inc. (I)(L) 704 11,869
RetailMeNot, Inc. (I) 1,273 20,572
Shutterfly, Inc. (I) 874 42,599
The Priceline Group, Inc. (I) 1,255 1,454,018
TripAdvisor, Inc. (I) 3,127 285,870
US Auto Parts Network, Inc. (I) 2,643 7,453
ValueVision Media, Inc., Class A (I) 1,151 5,905
zulily, Inc., Class A (I)(L) 2,964 112,306
7,299,007
Leisure products - 0.1%
Arctic Cat, Inc. 418 14,555
Black Diamond, Inc. (I)(L) 814 6,154
Brunswick Corp. 2,230 93,972
Callaway Golf Company 2,390 17,304
Hasbro, Inc. 3,067 168,670
LeapFrog Enterprises, Inc. (I)(L) 1,585 9,494
Marine Products Corp. 1,228 9,689
Mattel, Inc. 8,154 249,920
Nautilus, Inc. (I) 985 11,790
Polaris Industries, Inc. 1,640 245,656
Smith & Wesson Holding Corp. (I)(L) 1,795 16,945
Sturm Ruger & Company, Inc. (L) 479 23,323
867,472
Media - 3.6%
AH Belo Corp., Class A 745 7,949
AMC Entertainment Holdings, Inc., Class A 2,380 54,716
AMC Networks, Inc., Class A (I) 1,778 103,871
Ballantyne Strong, Inc. (I) 629 2,799
Cablevision Systems Corp., Class A (L) 6,588 115,356
Carmike Cinemas, Inc. (I) 672 20,819
CBS Corp., Class B 13,905 743,918
Charter Communications, Inc., Class A (I) 2,469 373,733
Cinemark Holdings, Inc. 2,760 93,950
Clear Channel Outdoor Holdings, Inc., Class A 8,558 57,681
Comcast Corp., Class A 62,395 3,355,603
Crown Media Holdings, Inc., Class A (I) 6,814 21,805
Cumulus Media, Inc., Class A (I) 5,525 22,266
DIRECTV (I) 12,334 1,067,138
Discovery Communications, Inc., Series A (I) 5,659 213,910
Discovery Communications, Inc., Series C (I) 5,659 210,968
DISH Network Corp., Class A (I) 10,904 704,180
DreamWorks Animation
       SKG, Inc., Class A (I) 2,049 55,876
Entercom Communications Corp., Class A (I) 1,104 8,865
Entravision Communications Corp., Class A 1,922 7,611

The accompanying notes are an integral part of the financial statements. 276


John Hancock Variable Insurance Trust

PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)


Total Stock Market Index Trust (continued)

Shares or
Principal
Amount         Value
COMMON STOCKS (continued)  
Media (continued)
Gannett Company, Inc. 5,540 $ 164,372
Gray Television, Inc. (I) 1,733   13,656
Harte-Hanks, Inc. 2,038   12,982
Hemisphere Media Group Inc (I)(L) 1,373 14,636
John Wiley & Sons, Inc., Class A 1,356 76,085
Journal Communications, Inc., Class A (I) 1,356 11,431
Lamar Advertising Company, Class A 2,209 108,793
Liberty Media Corp. (I) 5,256 246,979
Liberty Media Corp., Series A (I) 2,628 123,989
Lions Gate Entertainment Corp. (L) 3,487 114,966
Live Nation Entertainment, Inc. (I) 4,633 111,285
Loral Space & Communications, Inc. (I) 552 39,639
Media General, Inc. (I) 2,000 26,220
Meredith Corp. 1,111 47,551
Morningstar, Inc. 1,144 77,678
National CineMedia, Inc. 1,475 21,402
New Media Investment Group, Inc. 588 9,778
News Corp., Class A (I) 13,885 227,020
Nexstar Broadcasting Group, Inc., Class A (L) 731 29,547
NTN Buzztime, Inc. (I) 6,691 2,208
Omnicom Group, Inc. 6,175 425,211
ReachLocal, Inc. (I)(L) 903 3,260
Regal Entertainment Group, Class A (L) 3,768 74,908
Rentrak Corp. (I) 316 19,257
Saga Communications, Inc., Class A 236 7,925
Scholastic Corp. 891 28,797
Scripps Networks Interactive, Inc., Class A 3,449 269,332
SFX Entertainment, Inc. (I)(L) 1,933 9,704
Sinclair Broadcast Group, Inc., Class A (L) 2,413 62,955
Sirius XM Holdings, Inc. (I)(L) 148,791 519,281
Sizmek, Inc. (I) 594 4,598
Starz, Class A (I) 2,742 90,705
The Dolan Company (I) 898 55
The EW Scripps Company, Class A (I)(L) 1,602 26,129
The Interpublic Group of Companies, Inc. 9,986 182,944
The Madison Square Garden, Inc., Class A (I) 1,857 122,785
The McClatchy Company, Class A (I)(L) 2,673 8,981
The New York Times Company, Class A 3,548 39,809
The Walt Disney Company 41,752 3,717,181
Thomson Reuters Corp. 19,581 712,944
Time Warner Cable, Inc. 6,801 975,875
Time Warner, Inc. 21,325 1,603,853
Time, Inc. (I) 2,730 63,964
Twenty-First Century Fox, Inc., Class A 53,888 1,847,820
Value Line, Inc. 890 14,213
Viacom, Inc., Class B 10,535 810,563
World Wrestling
       Entertainment, Inc., Class A (L) 1,906 26,246
20,392,526
Multiline retail - 0.6%
Big Lots, Inc. 1,333 57,386
Burlington Stores, Inc. (I) 1,886 75,176
Dillard’s, Inc., Class A 1,068 116,391
Dollar General Corp. (I) 7,485 457,408
Dollar Tree, Inc. (I) 5,307 297,563
Family Dollar Stores, Inc. 2,697 208,316
Gordmans Stores, Inc. (I) 629 2,151
J.C. Penney Company, Inc. (I)(L) 7,487 75,169
Kohl’s Corp. 5,117 312,291
Macy’s, Inc. 8,812 512,682
Nordstrom, Inc. 4,601 314,570
Sears Holdings Corp. (I)(L) 2,576 64,992
Target Corp. 15,075 944,901
The Bon-Ton Stores, Inc. 475 3,971
Tuesday Morning Corp. (I)(L) 867 16,824
3,459,791
Specialty retail - 2.2%
Aaron’s, Inc. 1,760 42,803
Abercrombie & Fitch Company, Class A 1,748 63,522
Advance Auto Parts, Inc. 1,706 222,292
Aeropostale, Inc. (I) 1,988 6,541
America’s Car-Mart, Inc. (I) 311 12,312
American Eagle Outfitters, Inc. (L) 4,630 67,228
ANN, Inc. (I) 1,174 48,287
Asbury Automotive Group, Inc. (I) 788 50,763
Ascena Retail Group, Inc. (I) 3,897 51,830
AutoNation, Inc. (I) 2,887 145,245
AutoZone, Inc. (I) 828 421,998
Barnes & Noble, Inc. (I) 1,472 29,057
bebe stores, Inc. 2,882 6,686
Bed Bath & Beyond, Inc. (I) 4,992 328,623
Best Buy Company, Inc. 8,097 271,978
Big 5 Sporting Goods Corp. 708 6,634
Brown Shoe Company, Inc. 1,051 28,514
Build-A-Bear Workshop, Inc. (I) 637 8,332
Cabela’s, Inc. (I) 1,645 96,891
CarMax, Inc. (I) 5,331 247,625
Chico’s FAS, Inc. 3,855 56,938
Christopher & Banks Corp. (I) 1,641 16,229
Citi Trends, Inc. (I) 426 9,415
Coldwater Creek, Inc. (I) 728 7
Conn’s, Inc. (I)(L) 865 26,184
Dick’s Sporting Goods, Inc. 2,969 130,280
DSW, Inc., Class A 2,180 65,640
Express, Inc. (I) 2,124 33,156
Five Below, Inc. (I)(L) 1,344 53,236
Foot Locker, Inc. 3,637 202,399
Francesca’s Holdings Corp. (I) 1,068 14,877
GameStop Corp., Class A (L) 2,835 116,802
Genesco, Inc. (I) 586 43,804
GNC Holdings, Inc., Class A 2,254 87,320
Group 1 Automotive, Inc. 591 42,972
Guess?, Inc. 2,072 45,522
Haverty Furniture Companies, Inc. 645 14,055
hhgregg, Inc. (I) 733 4,625
Hibbett Sports, Inc. (I)(L) 640 27,283
Kirkland’s, Inc. (I) 488 7,862
L Brands, Inc. 6,889 461,425
Lithia Motors, Inc., Class A 616 46,625
Lowe’s Companies, Inc. 24,207 1,281,034
Lumber Liquidators Holdings, Inc. (I)(L) 689 39,535
MarineMax, Inc. (I) 667 11,239
Mattress Firm Holding Corp. (I)(L) 808 48,528
Monro Muffler Brake, Inc. 719 34,893
Murphy USA, Inc. (I) 1,119 59,374
New York & Company, Inc. (I) 1,751 5,306
O’Reilly Automotive, Inc. (I) 2,553 383,869
Office Depot, Inc. (I) 13,244 68,074
Outerwall, Inc. (I) 657 36,858
Pacific Sunwear of California, Inc. (I) 2,141 3,854
Penske Automotive Group, Inc. 2,187 88,770
PetSmart, Inc. 2,486 174,244
Pier 1 Imports, Inc. 2,566 30,510
RadioShack Corp. (I)(L) 2,580 2,554
Rent-A-Center, Inc. 1,268 38,484
Restoration Hardware Holdings, Inc. (I)(L) 923 73,425

The accompanying notes are an integral part of the financial statements. 277


John Hancock Variable Insurance Trust

PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)


Total Stock Market Index Trust (continued)

Shares or
Principal
Amount         Value
COMMON STOCKS (continued)
Specialty retail (continued)
Ross Stores, Inc. 5,092 $ 384,853
Sally Beauty Holdings, Inc. (I) 3,922 107,345
Sears Hometown and Outlet Stores, Inc. (I) 553 8,572
Select Comfort Corp. (I) 1,360 28,451
Shoe Carnival, Inc. 708 12,609
Signet Jewelers, Ltd. 1,867 212,670
Sonic Automotive, Inc., Class A 1,330 32,598
Stage Stores, Inc. 827 14,150
Staples, Inc. 15,494 187,477
Stein Mart, Inc. 1,168 13,490
Systemax, Inc. (I) 1,275   15,899
The Buckle, Inc. (L) 1,131 51,336
The Cato Corp., Class A 724 24,949
The Children’s Place Retail Stores, Inc. 580 27,643
The Container Store Group, Inc. (I) 1,158 25,210
The Finish Line, Inc., Class A 1,184 29,636
The Gap, Inc. 10,591 441,539
The Home Depot, Inc. 33,016 3,028,888
The Men’s Wearhouse, Inc. 1,225 57,845
The Pep Boys - Manny, Moe & Jack (I) 1,341 11,948
The TJX Companies, Inc. 16,805 994,352
The Wet Seal, Inc., Class A (I)(L) 2,075 1,090
Tiffany & Company 3,043 293,071
Tile Shop Holdings, Inc. (I)(L) 1,280 11,840
Tilly’s, Inc., Class A (I) 677 5,091
Tractor Supply Company 3,256 200,277
TravelCenters of America, LLC (I) 761 7,519
Ulta Salon Cosmetics & Fragrance, Inc. (I) 1,522 179,855
Urban Outfitters, Inc. (I) 3,390 124,413
Vitamin Shoppe, Inc. (I) 703 31,206
West Marine, Inc. (I) 659 5,931
Williams-Sonoma, Inc. 2,357 156,905
Zumiez, Inc. (I) 769 21,609
12,794,635
Textiles, apparel and luxury goods - 0.9%
Carter’s, Inc. 1,370 106,202
Charles & Colvard, Ltd. (I) 983 2,084
Coach, Inc. 6,560 233,602
Columbia Sportswear Company (L) 1,582 56,604
Crocs, Inc. (I) 2,044 25,714
Culp, Inc. 414 7,514
Deckers Outdoor Corp. (I) 863 83,866
Fossil Group, Inc. (I) 1,346 126,389
G-III Apparel Group, Ltd. (I) 510 42,259
Hanesbrands, Inc. 2,352 252,699
Iconix Brand Group, Inc. (I) 1,282 47,357
Kate Spade & Company (I) 2,991 78,454
Movado Group, Inc. 660 21,820
NIKE, Inc., Class B 21,198 1,890,862
Oxford Industries, Inc. 405 24,701
Perry Ellis International, Inc. (I) 451 9,178
PVH Corp. 1,924 233,093
Quiksilver, Inc. (I) 4,192 7,210
Ralph Lauren Corp. 2,143 353,016
Rocky Brands, Inc. 382 5,382
Skechers U.S.A., Inc., Class A (I) 1,206 64,292
Steven Madden, Ltd. (I) 1,684 54,275
Tumi Holdings, Inc. (I) 1,612 32,804
Under Armour, Inc., Class A (I)(L) 5,036 347,988
Vera Bradley, Inc. (I) 970 20,060
VF Corp. 10,534 695,560
Vince Holding Corp. (I) 896 27,113
Wolverine World Wide, Inc. 2,360 59,142
4,909,240
73,354,101
Consumer staples - 8.6%
Beverages - 1.8%
Brown-Forman Corp., Class B 5,110 461,024
Coca-Cola Bottling Company Consolidated 249 18,583
Coca-Cola Company 105,928 4,518,888
Coca-Cola Enterprises, Inc. 6,333 280,932
Constellation Brands, Inc., Class A (I) 4,502 392,394
Craft Brew Alliance, Inc. (I) 889 12,802
Dr. Pepper Snapple Group, Inc. 4,825 310,296
MGP Ingredients, Inc. 667 8,718
Molson Coors Brewing Company, Class B 3,871 288,157
Monster Beverage Corp. (I) 3,988 365,580
National Beverage Corp. (I) 1,122 21,879
PepsiCo, Inc. 36,778 3,423,664
Primo Water Corp. (I) 1,119 4,823
The Boston Beer
       Company, Inc., Class A (I)(L) 305 67,637
10,175,377
Food and staples retailing - 2.3%
Casey’s General Stores, Inc. 899 64,458
Costco Wholesale Corp. 10,511 1,317,239
CVS Health Corp. 28,238 2,247,462
Fairway Group Holdings Corp. (I)(L) 1,029 3,848
Ingles Markets, Inc., Class A 885 20,966
Natural Grocers by
       Vitamin Cottage, Inc. (I)(L) 638 10,387
PriceSmart, Inc. 723 61,918
Rite Aid Corp. (I) 23,088 111,746
Roundy’s, Inc. 1,700 5,083
Safeway, Inc. 5,927 203,296
SpartanNash Company 915 17,797
Sprouts Farmers Market, Inc. (I)(L) 3,470 100,873
SUPERVALU, Inc. (I) 6,097 54,507
Sysco Corp. 14,065 533,767
The Andersons, Inc. 712 44,771
The Chefs’ Warehouse, Inc. (I)(L) 749 12,179
The Fresh Market, Inc. (I)(L) 1,153 40,274
The Kroger Company 12,272 638,144
The Pantry, Inc. (I) 626 12,664
United Natural Foods, Inc. (I) 1,228 75,473
Village Super Market, Inc., Class A 492 11,208
Wal-Mart Stores, Inc. 77,265 5,908,455
Walgreen Company 22,733 1,347,385
Weis Markets, Inc. 672 26,228
Whole Foods Market, Inc. 8,894 338,950
13,209,078
Food products - 1.6%
Alico, Inc. 249 9,487
Annie’s, Inc. (I) 479 21,986
Archer-Daniels-Midland Company 15,778 806,256
B&G Foods, Inc. 1,268 34,933
Boulder Brands, Inc. (I) 1,484 20,227
Bunge, Ltd. 3,462 291,604
Cal-Maine Foods, Inc. 631 56,367
Campbell Soup Company 7,460 318,766
Chiquita Brands International, Inc. (I) 1,173 16,657
ConAgra Foods, Inc. 9,989 330,037
Darling International, Inc. (I) 3,756 68,810

The accompanying notes are an integral part of the financial statements. 278


John Hancock Variable Insurance Trust

PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)


Total Stock Market Index Trust (continued)

Shares or
Principal
Amount         Value
COMMON STOCKS (continued)
Food products (continued)  
Dean Foods Company 2,386 $ 31,615
Diamond Foods, Inc. (I) 559 15,993
Farmer Brothers Company (I) 451 13,056
Flowers Foods, Inc. 4,909 90,129
Fresh Del Monte Produce, Inc. 1,412   45,043
General Mills, Inc. 15,190 766,336
Hormel Foods Corp. 6,255 321,444
Ingredion, Inc. 1,762 133,542
J&J Snack Foods Corp. 475 44,441
John B. Sanfilippo & Son, Inc. 540 17,474
Kellogg Company 8,666 533,826
Keurig Green Mountain, Inc. 3,852 501,261
Kraft Foods Group, Inc. 14,126 796,706
Lancaster Colony Corp. 662 56,455
Lifeway Foods, Inc. 675 9,362
Limoneira Company (L) 516 12,224
McCormick & Company, Inc. 3,098 207,256
Mead Johnson Nutrition Company 4,808 462,626
Mondelez International, Inc., Class A 41,338 1,416,447
Omega Protein Corp. (I) 623 7,788
Pilgrim’s Pride Corp. (I) 6,123   187,119
Pinnacle Foods, Inc. 2,625 85,706
Post Holdings, Inc. (I) 755 25,051
Rocky Mountain Chocolate Factory, Inc. 577 7,236
Sanderson Farms, Inc. (L) 556 48,900
Seaboard Corp. (I) 28 74,900
Snyder’s-Lance, Inc. 1,674 44,361
The Hain Celestial Group, Inc. (I) 1,144 117,088
The Hershey Company 5,329 508,546
The J.M. Smucker Company 2,511 248,564
The WhiteWave Foods Company, Class A (I) 4,945 179,652
Tootsie Roll Industries, Inc. (L) 1,583 44,308
TreeHouse Foods, Inc. (I) 857 68,989
Tyson Foods, Inc., Class A 8,331 327,991
9,426,565
Household products - 1.5%
Central Garden & Pet Company, Class A (I) 1,353 10,878
Church & Dwight Company, Inc. 3,258 228,581
Colgate-Palmolive Company 22,143 1,444,166
Energizer Holdings, Inc. 1,475 181,735
Harbinger Group, Inc. (I) 4,495 58,974
Kimberly-Clark Corp. 9,114 980,393
Oil-Dri Corp. of America 272 7,091
Orchids Paper Products Company 291 7,147
Procter & Gamble Company 64,849 5,430,455
The Clorox Company (L) 3,075 295,323
WD-40 Company 367 24,941
8,669,684
Personal products - 0.2%
Avon Products, Inc. 10,413 131,204
Coty, Inc., Class A (L) 9,109 150,754
Elizabeth Arden, Inc. (I)(L) 729 12,203
Herbalife, Ltd. (L) 2,412 105,525
Inter Parfums, Inc. 827 22,743
Mannatech, Inc. (I) 243 3,788
Medifast, Inc. (I) 495 16,251
Nature’s Sunshine Products, Inc. 565 8,379
Nu Skin Enterprises, Inc., Class A 1,393 62,727
Revlon, Inc., Class A (I) 1,331 42,179
Rock Creek Pharmaceuticals, Inc. (I) 4,147 1,161
Synutra International, Inc. (I) 1,786 8,091
The Estee Lauder Companies, Inc., Class A 9,258 691,758
The Female Health Company 941 3,284
USANA Health Sciences, Inc. (I)(L) 326 24,013
1,284,060
Tobacco - 1.2%
Altria Group, Inc. 47,883 2,199,745
Lorillard, Inc. 8,882 532,121
Philip Morris International, Inc. 37,972 3,166,865
Reynolds American, Inc. 12,997 766,823
Universal Corp. 512 22,728
Vector Group, Ltd. (L) 2,504 55,544
6,743,826
49,508,590
Energy - 10.6%
Energy equipment and services - 1.6%
Atwood Oceanics, Inc. (I) 1,533 66,977
Baker Hughes, Inc. 10,592 689,116
Basic Energy Services, Inc. (I) 1,040 22,558
Bristow Group, Inc. 854 57,389
C&J Energy Services, Inc. (I) 1,221 37,302
Cameron International Corp. (I) 5,123 340,065
CARBO Ceramics, Inc. (L) 550 32,577
Dawson Geophysical Company 235 4,272
Diamond Offshore Drilling, Inc. (L) 3,274 112,200
Dresser-Rand Group, Inc. (I) 1,769 145,518
Dril-Quip, Inc. (I) 985 88,059
Era Group, Inc. (I) 481 10,462
Exterran Holdings, Inc. 1,574 69,744
Exterran Partners LP 1,288 37,777
FMC Technologies, Inc. (I) 5,664 307,612
Forum Energy Technologies, Inc. (I) 2,178 66,669
Geospace Technologies Corp. (I)(L) 318 11,178
Global Geophysical Services, Inc. (I) 769 13
Gulf Island Fabrication, Inc. 473 8,136
Gulfmark Offshore, Inc., Class A 652 20,440
Halliburton Company 20,454 1,319,488
Helix Energy Solutions Group, Inc. (I) 2,492 54,974
Helmerich & Payne, Inc. 2,554 249,960
Hercules Offshore, Inc. (I)(L) 4,030 8,866
Hornbeck Offshore Services, Inc. (I) 906 29,653
ION Geophysical Corp. (I) 3,857 10,761
Key Energy Services, Inc. (I) 3,596 17,405
Matrix Service Company (I) 756 18,235
McDermott International, Inc. (I)(L) 5,524 31,597
Mitcham Industries, Inc. (I) 331 3,658
Nabors Industries, Ltd. 6,944 158,045
National Oilwell Varco, Inc. 10,201 776,296
Natural Gas Services Group, Inc. (I) 382 9,195
Newpark Resources, Inc. (I) 2,364 29,408
Nuverra Environmental Solutions, Inc. (I)(L) 513 7,567
Oceaneering International, Inc. 2,591 168,855
Oil States International, Inc. (I) 1,333 82,513
Parker Drilling Company (I) 3,008 14,860
Patterson-UTI Energy, Inc. 3,410 110,927
PHI, Inc. (I) 416 17,118
Pioneer Energy Services Corp. (I) 1,558 21,843
RigNet, Inc. (I) 493 19,942
Rowan Companies PLC, Class A 2,839 71,855
RPC, Inc. 5,171 113,555
Schlumberger, Ltd. 31,444 3,197,540
SEACOR Holdings, Inc. (I) 481 35,979
Seventy Seven Energy, Inc. (I) 1,142 27,111

The accompanying notes are an integral part of the financial statements. 279


John Hancock Variable Insurance Trust

PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)


Total Stock Market Index Trust (continued)

Shares or
Principal
Amount         Value
COMMON STOCKS (continued)
Energy equipment and services (continued)  
Superior Energy Services, Inc. 3,906 $ 128,390
Synthesis Energy Systems, Inc. (I) 7,047 8,034
Tesco Corp. 1,032 20,485
TETRA Technologies, Inc. (I) 2,105 22,776
Tidewater, Inc. 1,167 45,548
Unit Corp. (I) 1,166   68,386
USA Compression Partners LP 682 16,566
Vantage Drilling Company (I) 6,701 8,510
Willbros Group, Inc. (I) 1,365 11,370
9,065,335
Oil, gas and consumable fuels - 9.0%
Abraxas Petroleum Corp. (I) 2,156 11,384
Alliance Holdings GP LP 1,431 97,651
Alliance Resource Partners LP 1,816 77,797
Alon USA Energy, Inc. 1,778 25,532
Alon USA Partners LP 1,451 25,697
Alpha Natural Resources, Inc. (I)(L) 5,125 12,710
American Midstream Partners LP 539   15,669
Amyris, Inc. (I)(L) 2,249 8,524
Anadarko Petroleum Corp. 12,026 1,219,917
Antero Resources Corp. (I) 6,276 344,490
Apache Corp. 9,463   888,292
Apco Oil and Gas International, Inc. (I) 707 9,113
Approach Resources, Inc. (I)(L) 931 13,500
Arch Coal, Inc. (L) 5,005 10,611
Athlon Energy, Inc. (I) 2,049 119,313
Atlas Energy LP 1,390 61,160
Atlas Pipeline Partners LP 1,749 63,769
Bill Barrett Corp. (I)(L) 1,147 25,280
Blueknight Energy Partners LP 1,795 14,791
Boardwalk Pipeline Partners LP 5,799 108,441
Bonanza Creek Energy, Inc. (I) 949 53,998
BP Prudhoe Bay Royalty Trust (L) 563 53,051
BPZ Resources, Inc. (I)(L) 3,316 6,334
BreitBurn Energy Partners LP 2,729 55,453
Buckeye Partners LP 2,517 200,454
Cabot Oil & Gas Corp. 10,038 328,142
Callon Petroleum Company (I) 905 7,973
Calumet Specialty Products Partners LP 1,718 47,159
Carrizo Oil & Gas, Inc. (I) 1,120 60,278
Centrus Energy Corp. (I) 11 114
Ceres, Inc. (I) 621 255
Cheniere Energy Partners LP 8,323 272,329
Cheniere Energy, Inc. (I) 5,686 455,051
Chesapeake Energy Corp. 15,990 367,610
Chevron Corp. 45,962 5,484,186
Cimarex Energy Company 2,076 262,676
Clayton Williams Energy, Inc. (I) 345 33,275
Clean Energy Fuels Corp. (I)(L) 2,565 20,007
Cloud Peak Energy, Inc. (I) 1,465 18,488
Cobalt International Energy, Inc. (I) 9,972 135,619
Comstock Resources, Inc. 1,203 22,400
Concho Resources, Inc. (I) 2,499 313,350
ConocoPhillips 29,312 2,242,954
CONSOL Energy, Inc. 5,391 204,103
Contango Oil & Gas Company (I) 413 13,728
Continental Resources, Inc. (I)(L) 8,928 593,533
Crestwood Equity Partners LP (L) 4,062 42,935
Crestwood Midstream Partners LP 3,987 90,385
CVR Refining LP 3,587 83,505
DCP Midstream Partners LP 2,088 113,692
Delek Logistics Partners LP 482 19,622
Delek US Holdings, Inc. 1,438 47,627
Denbury Resources, Inc. 8,963 134,714
Devon Energy Corp. 9,713 662,232
DHT Holdings, Inc. 104 641
Diamondback Energy, Inc. (I) 1,126 84,202
Dorchester Minerals LP 858 25,371
Eagle Rock Energy Partners LP 3,560 12,674
El Paso Pipeline Partners LP 5,240 210,438
Emerald Oil, Inc. (I)(L) 1,745 10,732
Emerge Energy Services LP 626 72,178
Enable Midstream Partners LP 4,327 106,617
Enbridge Energy Management LLC (I)(L) 1,704 63,406
Enbridge Energy Partners LP 6,044 234,809
Endeavour International Corp. (I) 1,197 358
Energen Corp. 1,687 121,869
Energy Transfer Equity LP 13,488 832,075
Energy Transfer Partners LP 9,203 588,900
Energy XXI Bermuda, Ltd. (L) 2,405 27,297
Enlink Midstream LLC 3,910 161,600
Enlink Midstream Partners LP 2,625 79,931
Enterprise Products Partners LP 42,346 1,706,544
EOG Resources, Inc. 13,034 1,290,627
EP Energy Corp., Class A (I)(L) 5,426 94,846
EQT Corp. 3,581 327,805
EQT Midstream Partners LP 1,001 89,700
EV Energy Partner LP 1,224 43,415
Evolution Petroleum Corp. 1,206 11,071
EXCO Resources, Inc. 6,714 22,425
Exxon Mobil Corp. 103,427 9,727,309
Forest Oil Corp. (I) 2,769 3,240
FX Energy, Inc. (I) 1,516 4,609
Gastar Exploration, Inc. (I) 1,854 10,883
Genesis Energy LP 2,112 111,176
Gevo, Inc. (I) 8,118 2,780
Global Partners LP 689 28,711
Goodrich Petroleum Corp. (I)(L) 1,175 17,414
Green Plains Renewable Energy, Inc. 797 29,800
Gulfport Energy Corp. (I) 2,005 107,067
Halcon Resources Corp. (I)(L) 10,236 40,535
Harvest Natural Resources, Inc. (I) 980 3,597
Hess Corp. 7,906 745,694
Holly Energy Partners LP 1,400 50,960
HollyFrontier Corp. 4,785 209,009
Houston American Energy Corp. (I) 690 210
Hugoton Royalty Trust 1,047 9,392
Hyperdynamics Corp. (I) 479 862
Isramco, Inc. (I) 58 7,085
James River Coal Company (I) 776 63
Jones Energy, Inc., Class A (I) 1,547 29,053
Kinder Morgan Energy Partners LP 7,187 670,403
Kinder Morgan Management LLC (I) 2,952 277,931
Kinder Morgan, Inc. (L) 24,781 950,104
KiOR, Inc., Class A (I) 2,519 290
Kodiak Oil & Gas Corp. (I) 6,366 86,387
Laredo Petroleum, Inc. (I)(L) 3,465 77,651
Legacy Reserves LP 1,481 43,956
Linn Energy LLC 7,709 232,349
LinnCo LLC (L) 3,131 90,642
Magellan Midstream Partners LP 5,376 452,552
Magnum Hunter Resources Corp. (I)(L) 5,368 29,900
Marathon Oil Corp. 16,615 624,558
Marathon Petroleum Corp. 7,178 607,761
MarkWest Energy Partners LP 3,653 280,623
Martin Midstream Partners LP 644 24,015

The accompanying notes are an integral part of the financial statements. 280


John Hancock Variable Insurance Trust

PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Total Stock Market Index Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Oil, gas and consumable fuels (continued)
Matador Resources Company (I) 1,588 $ 41,050
Memorial Production Partners LP 1,307 28,754
Mid-Con Energy Partners LP 454 9,965
Midcoast Energy Partners LP 1,319 29,427
Midstates Petroleum Company, Inc. (I) 1,497   7,560
Miller Energy Resources, Inc. (I)(L) 1,008   4,435
MPLX LP 1,855 109,334
Murphy Oil Corp. 4,394 250,063
Natural Resource Partners LP 2,561 33,395
Newfield Exploration Company (I) 3,225 119,551
Niska Gas Storage Partners LLC 938 11,706
Noble Energy, Inc. 8,595 587,554
Northern Oil and Gas, Inc. (I)(L) 1,562 22,212
Northern Tier Energy LP 2,283 53,308
NuStar Energy LP 1,800 118,692
NuStar GP Holdings LLC 1,048 45,588
Oasis Petroleum, Inc. (I) 2,408 100,678
Occidental Petroleum Corp. 19,050 1,831,658
Oiltanking Partners LP 2,064 102,354
ONEOK Partners LP 5,462 305,654
ONEOK, Inc. 4,916 322,244
Oxford Resource Partners LP (I) 353 279
Pacific Ethanol, Inc. (I) 607 8,474
Panhandle Oil and Gas, Inc., Class A 319 19,044
Parsley Energy, Inc. (I) 2,708 57,762
PBF Energy, Inc., Class A 1,270   30,480
PDC Energy, Inc. (I) 875 44,004
Peabody Energy Corp. (L) 6,575 81,399
Penn Virginia Corp. (I) 1,811 23,018
Petroquest Energy, Inc. (I) 1,669 9,380
Phillips 66 14,120 1,148,097
Phillips 66 Partners LP 884 59,007
Pioneer Natural Resources Company 3,518 692,940
Plains All American Pipeline LP 8,364 492,305
Plains GP Holdings LP, Class A (L) 14,548 445,896
QEP Midstream Partners LP 1,424 33,735
QEP Resources, Inc. 4,227 130,107
Quicksilver Resources, Inc. (I) 4,280 2,580
Range Resources Corp. 3,878 262,967
Regency Energy Partners LP 8,441 275,345
Renewable Energy Group, Inc. (I) 78 792
Resolute Energy Corp. (I)(L) 2,211 13,863
Rex Energy Corp. (I) 1,246 15,787
Rhino Resource Partners LP 453 5,418
Rice Energy, Inc. (I) 2,920 77,672
Rose Rock Midstream LP 710 41,997
Rosetta Resources, Inc. (I) 1,418 63,186
RSP Permian, Inc. (I) 1,641 41,944
Sanchez Energy Corp. (I)(L) 1,164 30,567
SandRidge Energy, Inc. (I)(L) 12,337 52,926
SandRidge Mississippian Trust 505 2,091
SemGroup Corp., Class A 1,031 85,851
Ship Finance International, Ltd. (L) 2,094 35,430
SM Energy Company 1,585 123,630
Solazyme, Inc. (I)(L) 2,319 17,300
Southcross Energy Partners LP 804 17,165
Southwestern Energy Company (I) 8,377 292,776
Spectra Energy Corp. 15,904 624,391
Spectra Energy Partners LP 6,722 356,199
Stone Energy Corp. (I) 1,292 40,517
Summit Midstream Partners LP 910 46,283
Sunoco Logistics Partners LP 4,914 237,150
Susser Petroleum Partners LP 451 24,805
Swift Energy Company (I)(L) 1,049 10,070
Synergy Resources Corp. (I) 2,178 26,550
Syntroleum Corp. (I) 371 1,243
Tallgrass Energy Partners LP 775 35,115
Targa Resources Corp. 1,000 136,170
Targa Resources Partners LP 2,779 201,061
TC PipeLines LP 1,481 100,279
Teekay Corp. 1,672 110,954
Tesoro Corp. 3,174 193,551
Tesoro Logistics LP 1,343 95,044
The Williams Companies, Inc. 16,266 900,323
Transmontaigne Partners LP 519 21,404
Triangle Petroleum Corp. (I)(L) 2,167 23,859
Ultra Petroleum Corp. (I)(L) 3,707 86,225
Uranerz Energy Corp. (I)(L) 2,497 2,747
Uranium Energy Corp. (I) 2,161 2,701
Uranium Resources, Inc. (I) 370 936
US Energy Corp. (I) 1,052 3,356
VAALCO Energy, Inc. (I) 1,471 12,504
Valero Energy Corp. 12,882 596,050
Valero Energy Partners LP 1,400 62,482
Voc Energy Trust 763 9,591
W&T Offshore, Inc. 1,817 19,987
Warren Resources, Inc. (I) 2,903 15,386
Western Gas Equity Partners LP 5,115 311,708
Western Gas Partners LP 2,660 199,500
Western Refining Logistics LP 1,214 42,271
Western Refining, Inc. 2,428 101,952
Westmoreland Coal Company (I) 735 27,496
Whiting Petroleum Corp. (I) 2,857 221,560
Williams Partners LP 10,453 554,532
World Fuel Services Corp. 1,687 67,345
World Point Terminals LP 1,085 20,626
WPX Energy, Inc. (I) 4,651 111,903
Zaza Energy Corp. (I) 252 915
Zion Oil & Gas, Inc. (I) 1,070 1,840
51,937,952
61,003,287
Financials - 17.2%
Banks - 5.4%
American National Bankshares, Inc. 556 12,649
AmeriServ Financial, Inc. 1,409 4,636
Arrow Financial Corp. (L) 741 18,565
Associated Banc-Corp. 3,794 66,091
BancorpSouth, Inc. 2,419 48,719
Bank of America Corp. 254,986 4,347,511
Bank of Hawaii Corp. 1,017 57,776
Bank of Kentucky Financial Corp. 452 20,896
Bank of Marin Bancorp, Class A 415 19,044
Bank of the Ozarks, Inc. 1,882 59,321
BankUnited, Inc. 2,340 71,347
Banner Corp. 543 20,889
Bar Harbor Bankshares 390 11,283
BB&T Corp. 16,801 625,165
BBCN Bancorp, Inc. 2,160 31,514
BCB Bancorp, Inc. 448 5,958
BNC Bancorp 972 15,222
BOK Financial Corp. 1,604 106,634
Boston Private Financial Holdings, Inc. 2,048 25,375
Bridge Bancorp, Inc. 667 15,775
Bridge Capital Holdings (I) 1,106 25,150
Bryn Mawr Bank Corp. 664 18,811

The accompanying notes are an integral part of the financial statements. 281


John Hancock Variable Insurance Trust

PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)


Total Stock Market Index Trust (continued)

Shares or
Principal
Amount         Value
COMMON STOCKS (continued)
Banks (continued)
BSB Bancorp, Inc. (I) 519 $ 9,560
C&F Financial Corp. 168 5,589
Cardinal Financial Corp. 1,099   18,760
Cascade Bancorp (I) 981 4,954
Cathay General Bancorp 1,995 49,536
Centerstate Banks, Inc. 1,478 15,297
Central Pacific Financial Corp. 1,283 23,004
Century Bancorp, Inc., Class A 214 7,409
Chemical Financial Corp. 849 22,830
CIT Group, Inc. 4,779 219,643
Citigroup, Inc. 72,711 3,767,884
Citizens & Northern Corp. 512 9,728
City Holding Company 491   20,686
City National Corp. 1,285 97,236
CNB Financial Corp. 576 9,043
Columbia Banking System, Inc. 1,354 33,593
Comerica, Inc. 4,409 219,833
Commerce Bancshares, Inc. 2,228 99,469
Community Bank Systems, Inc. 963 32,347
Community Trust Bancorp, Inc. 616 20,716
CommunityOne Bancorp (I) 587 5,177
Customers Bancorp, Inc. (I) 972 17,457
CVB Financial Corp. 2,517 36,119
Eagle Bancorp, Inc. (I) 732 23,292
East West Bancorp, Inc. 3,355 114,070
Enterprise Financial Services Corp. 772 12,908
Fidelity Southern Corp. 724 9,919
Fifth Third Bancorp 21,145 423,323
Financial Institutions, Inc. 569 12,791
First BanCorp Puerto Rico (I) 5,138 24,406
First Busey Corp. 2,456 13,680
First Citizens BancShares, Inc., Class A 237 51,341
First Commonwealth Financial Corp. 2,939 24,658
First Community Bancshares, Inc. 550 7,860
First Financial Bancorp 1,424 22,542
First Financial Bankshares, Inc. (L) 1,630 45,298
First Horizon National Corp. 5,425 66,619
First Interstate Bancsystem, Inc. 1,225 32,548
First Merchants Corp. 1,104 22,312
First Midwest Bancorp, Inc. 1,885 30,330
First NBC Bank Holding Company (I) 634 20,764
First Niagara Financial Group, Inc. 8,115 67,598
First Republic Bank 3,098 152,979
First Security Group, Inc. (I) 2,065 4,089
FirstMerit Corp. 4,075 71,720
Flushing Financial Corp. 852 15,566
FNB Corp. 3,815 45,742
Frost Bankers, Inc. 1,353 103,518
Fulton Financial Corp. 4,816 53,361
German American Bancorp, Inc. 467 12,053
Glacier Bancorp, Inc. 1,833 47,401
Great Southern Bancorp, Inc. 611 18,538
Hampton Roads Bankshares, Inc. (I) 4,502 6,888
Hancock Holding Company 1,962 62,882
Hanmi Financial Corp. 938 18,910
Heartland Financial USA, Inc. 637 15,212
Heritage Commerce Corp. 1,059 8,694
Heritage Financial Corp. 1,574 24,932
Home BancShares, Inc. 1,601 47,085
Huntington Bancshares, Inc. 19,533 190,056
Iberiabank Corp. 709 44,320
Independent Bank Corp. 694 24,790
International Bancshares Corp. 1,624 40,056
Investors Bancorp, Inc. 8,889 90,046
JPMorgan Chase & Company 90,229 5,435,395
KeyCorp 21,796 290,541
Lakeland Bancorp, Inc. 1,694 16,533
M&T Bank Corp. 3,084 380,226
MainSource Financial Group, Inc. 673 11,609
MB Financial, Inc. 2,012 55,692
Mercantile Bank Corp. 483 9,201
Merchants Bancshares, Inc. 537 15,138
Metro Bancorp, Inc. (I) 762 18,479
MidSouth Bancorp, Inc. 809 15,128
MidWestOne Financial Group, Inc. 362 8,330
Monarch Financial Holdings, Inc. 571 7,172
National Bank Holdings Corp., Class A 1,226 23,441
National Bankshares, Inc. (L) 346 9,605
National Penn Bancshares, Inc. 3,509 34,072
North Valley Bancorp (I) 469 10,121
Northrim BanCorp, Inc. 305 8,061
Norwood Financial Corp. 307 8,799
OFG Bancorp (L) 1,164 17,437
Old National Bancorp 2,661 34,513
OmniAmerican Bancorp, Inc. 471 12,241
PacWest Bancorp 2,504 103,240
Park National Corp. (L) 370 27,905
Penson Worldwide, Inc. (I) 1,757 7
Peoples Bancorp of North Carolina, Inc. 428 7,173
Pinnacle Financial Partners, Inc. 843 30,432
Popular, Inc. (I) 2,539 74,735
Porter Bancorp, Inc. (I) 600 600
Preferred Bank 590 13,287
PrivateBancorp, Inc. 1,934 57,846
Prosperity Bancshares, Inc. 1,581 90,386
QCR Holdings, Inc. 449 7,934
Regions Financial Corp. 32,923 330,547
Renasant Corp. 880 23,804
Republic Bancorp, Inc., Class A 553 13,101
S&T Bancorp, Inc. 834 19,566
Salisbury Bancorp, Inc. 197 5,309
SB Financial Group, Inc. 652 5,901
Shore Bancshares, Inc. (I) 960 8,640
Signature Bank (I) 1,088 121,921
South State Corp. 607 33,943
Southern First Bancshares, Inc. (I) 420 5,838
Southern National Bancorp of Virginia, Inc. 827 9,585
Southside Bancshares, Inc. 773 25,702
Southwest Bancorp, Inc. 984 16,138
State Bank Financial Corp. 857 13,918
SunTrust Banks, Inc. 12,759 485,225
Susquehanna Bancshares, Inc. 4,360 43,600
SVB Financial Group (I) 1,110 124,420
Synovus Financial Corp. 3,518 83,166
TCF Financial Corp. 3,834 59,542
Texas Capital Bancshares, Inc. (I) 1,028 59,295
The Bancorp, Inc. (I) 1,064 9,140
The PNC Financial Services Group, Inc. 12,745 1,090,717
Tompkins Financial Corp. 443 19,527
TowneBank (L) 974 13,227
Trico Bancshares (L) 862 19,498
TriState Capital Holdings, Inc. (I) 1,159 10,512
Trustmark Corp. 1,569 36,142
U.S. Bancorp 43,608 1,824,123
UMB Financial Corp. 1,083 59,078
Umpqua Holdings Corp. 5,475 90,173

The accompanying notes are an integral part of the financial statements. 282


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Total Stock Market Index Trust (continued)

Shares or    
Principal    
Amount        Value
COMMON STOCKS (continued)    
Banks (continued)    
Union Bankshares Corp. 670 $ 15,477
United Bankshares, Inc. (L) 1,816   56,169
United Community Banks, Inc. 1,109   18,254
Unity Bancorp, Inc. 643   6,192
Univest Corp. of Pennsylvania 654   12,263
Valley National Bancorp (L) 4,698   45,524
ViewPoint Financial Group, Inc. 889   21,283
Washington Trust Bancorp, Inc. 647   21,345
WashingtonFirst Bankshare, Inc. 422   6,330
Webster Financial Corp. 2,088   60,844
Wells Fargo & Company 126,384   6,555,538
WesBanco, Inc. 915   27,990
West Bancorp, Inc. 725   10,244
WestAmerica Bancorp. (L) 827   38,472
Western Alliance Bancorp (I) 2,136   51,050
Wilshire Bancorp, Inc. 2,050   18,922
Wintrust Financial Corp. 1,001   44,715
Zions Bancorporation 4,311   125,278
  31,131,765
Capital markets - 2.6%    
Actua Corp. (I) 972   15,571
Affiliated Managers Group, Inc. (I) 1,271   254,658
AllianceBernstein Holding LP 2,190   56,962
American Capital, Ltd. (I) 6,914   97,902
Ameriprise Financial, Inc. 4,670   576,185
Apollo Investment Corp. 5,361   43,799
Ares Capital Corp. 6,349   102,600
Arlington Asset Investment Corp., Class A (L) 471   11,968
Artisan Partners Asset    
       Management, Inc., Class A 1,846   96,084
BGC Partners, Inc., Class A 5,595   41,571
BlackRock Kelso Capital Corp. 2,407   20,556
BlackRock, Inc. 4,020   1,319,846
Calamos Asset Management, Inc., Class A 741   8,351
Cohen & Steers, Inc. (L) 1,079   41,477
Cowen Group, Inc., Class A (I) 2,816   10,560
E*TRADE Financial Corp. (I) 7,046   159,169
Eaton Vance Corp. 2,922   110,247
Ellington Financial LLC 739   16,421
Evercore Partners, Inc., Class A 790   37,130
FBR & Company (I) 458   12,604
Federated Investors, Inc., Class B 2,549   74,839
Fidus Investment Corp. 587   9,691
Fifth Street Finance Corp. 3,320   30,478
Financial Engines, Inc. (L) 1,195   40,887
Fortress Investment Group LLC, Class A 11,718   80,620
Franklin Resources, Inc. 15,181   829,034
FXCM, Inc., Class A (L) 1,105   17,514
GAMCO Investors, Inc., Class A 622   44,000
GFI Group, Inc. 3,925   21,234
Gleacher & Company, Inc. 1,011   6,865
Golub Capital BDC, Inc. 1,030   16,429
Greenhill & Company, Inc. 703   32,682
GSV Capital Corp. (I) 750   7,508
Harris & Harris Group, Inc. (I) 1,138   3,391
Hercules Technology Growth Capital, Inc. 1,686   24,380
HFF, Inc., Class A 916   26,518
INTL. FCStone, Inc. (I) 680   11,778
Invesco, Ltd. 10,677   421,528
Investment Technology Group, Inc. (I) 961   15,145
Janus Capital Group, Inc. 4,707   68,440
Ladenburg Thalmann    
       Financial Services, Inc. (I) 5,908   25,050
Lazard, Ltd., Class A 2,901   147,081
Legg Mason, Inc. 2,921   149,438
LPL Financial Holdings, Inc. 2,503   115,263
Main Street Capital Corp. (L) 936   28,679
Manning & Napier, Inc. 632   10,611
Marcus & Millichap, Inc. (I) 1,168   35,344
MCG Capital Corp. 2,362   8,314
Medallion Financial Corp. 722   8,419
Moelis & Company (L) 1,089   37,189
Morgan Stanley 46,860   1,619,950
New Mountain Finance Corp. 1,001   14,705
Northern Trust Corp. 5,633   383,213
Northstar Asset Management (I) 3,917   72,151
Oaktree Capital Group LLC 3,529   180,332
Och-Ziff Capital Management Group LLC 11,995   128,466
Oppenheimer Holdings, Inc., Class A 428   8,667
PennantPark Investment Corp. 2,024   22,082
Piper Jaffray Companies (I) 361   18,859
Prospect Capital Corp. (L) 6,274   62,113
Pzena Investment Management, Inc., Class A 2,802   26,759
Raymond James Financial, Inc. 3,416   183,029
RCS Capital Corp., Class A (I) 670   15,088
SEI Investments Company 4,043   146,195
Solar Capital, Ltd. 1,552   28,991
State Street Corp. 10,551   776,659
Stifel Financial Corp. (I) 1,589   74,508
SWS Group, Inc. (I)(L) 1,900   13,091
T. Rowe Price Group, Inc. 6,274   491,882
TD Ameritrade Holding Corp. 13,244   441,952
The Bank of New York Mellon Corp. 27,547   1,066,895
The Blackstone Group LP 13,809   434,707
The Carlyle Group LP 1,605   48,888
The Charles Schwab Corp. 30,954   909,738
The Goldman Sachs Group, Inc. 10,898   2,000,546
Triangle Capital Corp. 901   22,813
U.S. Global Investors, Inc., Class A 1,559   5,534
Virtus Investment Partners, Inc. 232   40,298
Waddell & Reed Financial, Inc., Class A 2,070   106,998
Walter Investment Management Corp. (I)(L) 929   20,392
Westwood Holdings Group, Inc. 304   17,234
WisdomTree Investments, Inc. (I)(L) 3,253   37,019
  14,801,764
Consumer finance - 0.9%    
American Express Company 25,681   2,248,115
Asta Funding, Inc. (I) 606   4,975
Atlanticus Holdings Corp. (I) 1,048   1,970
Capital One Financial Corp. 13,892   1,133,865
Cash America International, Inc. 711   31,142
Consumer Portfolio Services, Inc. (I) 716   4,590
Credit Acceptance Corp. (I) 508   64,044
Discover Financial Services 11,479   739,133
Encore Capital Group, Inc. (I)(L) 614   27,206
Ezcorp, Inc., Class A (I) 1,228   12,169
First Cash Financial Services, Inc. (I) 673   37,675
Green Dot Corp., Class A (I) 1,027   21,711
JG Wentworth, Inc. (I) 1,290   15,983
Navient Corp. 10,314   182,661
Nelnet, Inc., Class A 1,071   46,149
Nicholas Financial, Inc. (I) 515   5,969
Portfolio Recovery Associates, Inc. (I) 1,203   62,833
Regional Management Corp. (I) 351   6,300
Santander Consumer USA Holdings, Inc. 7,605   135,445
SLM Corp. 10,314   88,288

The accompanying notes are an integral part of the financial statements. 283


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Total Stock Market Index Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Consumer finance (continued)
Springleaf Holdings, Inc. (I) 2,769 $ 88,414
The First Marblehead Corp. (I) 358 1,017
World Acceptance Corp. (I) 270 18,225
4,977,879
Diversified financial services - 2.0%
Berkshire Hathaway, Inc., Class B (I) 59,106 8,164,903
CBOE Holdings, Inc. 2,080 111,332
CME Group, Inc. 8,063 644,677
Gain Capital Holdings, Inc. 1,162 7,402
Interactive Brokers Group, Inc., Class A 1,373 34,256
Intercontinental Exchange Group, Inc. 2,764 539,118
Leucadia National Corp. 8,626 205,644
Life Partners Holdings, Inc. 788 1,576
MarketAxess Holdings, Inc. 941 58,210
Marlin Business Services Corp. 471 8,629
McGraw-Hill Financial, Inc. 6,539 552,219
Moody’s Corp. 5,240 495,180
MSCI, Inc. (I) 2,844 133,725
NewStar Financial, Inc. (I) 1,315 14,781
PHH Corp. (I) 1,363 30,477
PICO Holdings, Inc. (I) 659 13,147
The NASDAQ OMX Group, Inc. 4,071 172,692
TPG Specialty Lending, Inc. 1,156 18,508
Voya Financial, Inc. 6,214 242,967
11,449,443
Insurance - 2.6%
Aflac, Inc. 11,114 647,391
Alleghany Corp. (I) 392 163,915
American Equity Investment Life
       Holding Company 1,602 36,654
American Financial Group, Inc. 2,116 122,495
American International Group, Inc. 34,981 1,889,674
American National Insurance Company 628 70,587
AMERISAFE, Inc. 520 20,337
AmTrust Financial Services, Inc. (L) 1,771 70,521
Arch Capital Group, Ltd. (I) 3,202 175,213
Argo Group International Holdings, Ltd. 719 36,173
Arthur J. Gallagher & Company 3,138 142,340
Aspen Insurance Holdings, Ltd. 1,667 71,298
Assurant, Inc. 1,845 118,634
Assured Guaranty, Ltd. 4,471 99,077
Axis Capital Holdings, Ltd. 2,777 131,435
Baldwin & Lyons, Inc., Class B 491 12,128
Brown & Brown, Inc. 3,472 111,625
Cincinnati Financial Corp. 3,915 184,201
Citizens, Inc. (I)(L) 1,632 10,543
CNA Financial Corp. 6,192 235,482
CNO Financial Group, Inc. 5,489 93,093
Crawford & Company, Class B 1,640 13,530
Donegal Group, Inc., Class A 853 13,102
eHealth, Inc. (I) 439 10,593
EMC Insurance Group, Inc. 433 12,505
Employers Holdings, Inc. 815 15,689
Endurance Specialty Holdings, Ltd. 1,060 58,491
Enstar Group, Ltd. (I) 327 44,577
Erie Indemnity Company, Class A 1,067 80,889
Everest Re Group, Ltd. 1,136 184,043
FBL Financial Group, Inc., Class A 716 32,005
Fidelity & Guaranty Life 1,517 32,388
First American Financial Corp. 2,568 69,644
FNF Group 6,410 177,813
Genworth Financial, Inc., Class A (I) 11,914 156,073
Hallmark Financial Services, Inc. (I) 766 7,897
HCC Insurance Holdings, Inc. 2,354 113,675
Hilltop Holdings, Inc. (I) 2,126 42,626
Horace Mann Educators Corp. 1,069 30,477
Infinity Property & Casualty Corp. 373 23,876
Kansas City Life Insurance Company 321 14,236
Kemper Corp. 1,412 48,220
Lincoln National Corp. 6,317 338,465
Loews Corp. 9,102 379,189
Maiden Holdings, Ltd. 1,994 22,094
Markel Corp. (I) 333 211,838
Marsh & McLennan Companies, Inc. 13,015 681,205
MBIA, Inc. (I) 4,550 41,769
Mercury General Corp. 1,321 64,478
MetLife, Inc. 26,789 1,439,105
Montpelier Re Holdings, Ltd. 1,014 31,525
National Interstate Corp. 564 15,736
National Western Life Insurance
       Company, Class A 140 34,581
Old Republic International Corp. 6,301 89,978
OneBeacon Insurance Group, Ltd., Class A 2,540 39,141
PartnerRe, Ltd. 1,243 136,593
Platinum Underwriters Holdings, Ltd. 661 40,235
Primerica, Inc. 1,305 62,927
Principal Financial Group, Inc. 7,121 373,639
ProAssurance Corp. 1,478 65,135
Protective Life Corp. 1,912 132,712
Prudential Financial, Inc. 11,094 975,606
Reinsurance Group of America, Inc. 1,623 130,051
RenaissanceRe Holdings, Ltd. 1,069 106,889
RLI Corp. 1,092 47,273
Safety Insurance Group, Inc. 505 27,225
Selective Insurance Group, Inc. 1,417 31,372
StanCorp Financial Group, Inc. 1,053 66,529
State Auto Financial Corp. 1,117 22,910
Stewart Information Services Corp. 683 20,046
Symetra Financial Corp. 2,689 62,734
The Allstate Corp. 11,001 675,131
The Chubb Corp. 6,048 550,852
The Hanover Insurance Group, Inc. 1,079 66,272
The Hartford Financial Services Group, Inc. 10,882 405,355
The Navigators Group, Inc. (I) 434 26,691
The Phoenix Companies, Inc. (I) 217 12,165
The Progressive Corp. 14,412 364,335
The Travelers Companies, Inc. 8,654 812,957
Torchmark Corp. 3,268 171,145
United Fire Group, Inc. 746 20,716
Unum Group 6,243 214,634
Validus Holdings, Ltd. 2,410 94,327
W.R. Berkley Corp. 3,166 151,335
White Mountains Insurance Group, Ltd. 152 95,771
14,977,831
Real estate investment trusts - 3.3%
Acadia Realty Trust 1,324 36,516
AG Mortgage Investment Trust, Inc. 587 10,449
Agree Realty Corp. 612 16,757
Alexander’s, Inc. 119 44,495
Alexandria Real Estate Equities, Inc. 1,705 125,744
Altisource Residential Corp., Class B 611 14,664
American Assets Trust, Inc. 1,121 36,959
American Campus Communities, Inc. 2,476 90,250
American Capital Agency Corp. 9,143 194,289
American Capital Mortgage Investment Corp. 1,701 32,013

The accompanying notes are an integral part of the financial statements. 284


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Total Stock Market Index Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Real estate investment trusts (continued)
American Homes 4 Rent, Class A 4,531 $ 76,529
American Realty Capital Properties, Inc. 22,264 268,504
American Residential Properties, Inc. (I) 1,082 19,844
American Tower Corp. 9,425 882,463
Annaly Capital Management, Inc. 22,317 238,346
Anworth Mortgage Asset Corp. 3,235 15,496
Apartment Investment & Management
       Company, Class A 3,473 110,511
Apollo Commercial Real Estate Finance, Inc. 1,131 17,768
Apollo Residential Mortgage, Inc. 942 14,535
Ares Commercial Real Estate Corp. 1,441 16,845
ARMOUR Residential REIT, Inc. 8,542 32,887
Ashford Hospitality Prime, Inc. 1,168 17,789
Ashford Hospitality Trust, Inc. 3,113 31,815
Associated Estates Realty Corp. 1,702 29,802
AvalonBay Communities, Inc. 3,091 435,738
Aviv REIT, Inc. 1,576 41,528
BioMed Realty Trust, Inc. 4,694 94,819
Blackstone Mortgage Trust, Inc., Class A 808 21,897
Boston Properties, Inc. 3,602 416,968
Brandywine Realty Trust 3,867 54,409
Brixmor Property Group, Inc. 5,484 122,074
BRT Realty Trust (I) 597 4,478
Camden Property Trust 2,001 137,129
Campus Crest Communities, Inc. 1,960 12,544
Capstead Mortgage Corp. 2,151 26,328
CaretTust REIIT, Inc. (I) 880 12,584
CBL & Associates Properties, Inc. 4,228 75,681
CBS Outdoor Americas, Inc. 2,168 64,910
Cedar Realty Trust, Inc. 2,411 14,225
Chambers Street Properties 5,839 43,968
Chatham Lodging Trust 1,182 27,281
Chesapeake Lodging Trust 1,440 41,976
Chimera Investment Corp. 25,621 77,888
Colony Financial, Inc. 2,196 49,146
Columbia Property Trust, Inc. 3,190 76,145
CoreSite Realty Corp. 596 19,591
Corporate Office Properties Trust 2,061 53,009
Corrections Corp. of America 2,759 94,799
Cousins Properties, Inc. 4,589 54,839
Crown Castle International Corp. 7,966 641,502
CubeSmart 3,554 63,901
CyrusOne, Inc. 736 17,693
CYS Investments, Inc. 3,822 31,493
DCT Industrial Trust, Inc. 8,003 60,103
DDR Corp. 8,442 141,235
DiamondRock Hospitality Company 4,849 61,485
Digital Realty Trust, Inc. 3,107 193,815
Douglas Emmett, Inc. 3,392 87,073
Duke Realty Corp. 7,645 131,341
DuPont Fabros Technology, Inc. 1,651 44,643
Dynex Capital, Inc. 1,357 10,965
EastGroup Properties, Inc. 779 47,200
Education Realty Trust, Inc. 3,616 37,172
Empire State Realty Trust, Inc., Class A 2,620 39,352
EPR Properties 1,236 62,640
Equity Commonwealth 2,882 74,096
Equity Lifestyle Properties, Inc. 2,047 86,711
Equity One, Inc. 2,788 60,304
Equity Residential 8,612 530,327
Essex Property Trust, Inc. 1,458 260,618
Excel Trust, Inc. 2,373 27,930
Extra Space Storage, Inc. 2,706 139,548
Federal Realty Investment Trust 1,501 177,808
FelCor Lodging Trust, Inc. 4,185 39,172
First Industrial Realty Trust, Inc. 2,957 50,003
First Potomac Realty Trust 1,912 22,466
Five Oaks Investment Corp. 490 5,145
Franklin Street Properties Corp. 2,442 27,399
Gaming and Leisure Properties, Inc. 2,074 64,087
General Growth Properties, Inc. 22,069 519,725
Getty Realty Corp. 1,062 18,054
Gladstone Commercial Corp. 2,526 42,917
Glimcher Realty Trust 4,116 55,731
Government Properties Income Trust 1,296 28,395
Hatteras Financial Corp. 2,479 44,523
HCP, Inc. 10,842 430,536
Health Care REIT, Inc. 6,876 428,856
Healthcare Realty Trust, Inc. 2,197 52,025
Healthcare Trust of America, Inc., Class A 5,457 63,301
Hersha Hospitality Trust 6,079 38,723
Highwoods Properties, Inc. 2,055 79,940
Home Properties, Inc. 1,318 76,760
Hospitality Properties Trust 3,512 94,297
Host Hotels & Resorts, Inc. 18,124 386,585
Hudson Pacific Properties, Inc. 2,010 49,567
Inland Real Estate Corp. 2,922 28,957
Invesco Mortgage Capital, Inc. 3,299 51,860
Investors Real Estate Trust 3,194 24,594
Iron Mountain, Inc. 4,655 151,986
iStar Financial, Inc. (I) 2,768 37,368
Kilroy Realty Corp. 1,914 113,768
Kimco Realty Corp. 9,851 215,835
Kite Realty Group Trust 933 22,616
LaSalle Hotel Properties 2,426 83,066
Lexington Realty Trust 5,628 55,098
Liberty Property Trust 3,548 118,006
LTC Properties, Inc. 822 30,324
Mack-Cali Realty Corp. 2,086 39,863
Medical Properties Trust, Inc. 3,932 48,206
MFA Financial, Inc. 8,991 69,950
Mid-America Apartment Communities, Inc. 1,773 116,397
Monmouth Real Estate
       Investment Corp., Class A 1,889 19,117
National Health Investments, Inc. 724 41,369
National Retail Properties, Inc. 2,915 100,772
New Residential Investment Corp. 6,039 35,207
New York Mortgage Trust, Inc. 3,810 27,546
Newcastle Investment Corp. 3,160 40,069
Northstar Realty Finance 4,848 85,664
Omega Healthcare Investors, Inc. 2,861 97,818
Orchid Island Capital, Inc. 425 5,640
Parkway Properties, Inc. 2,579 48,434
Pebblebrook Hotel Trust 1,599 59,707
Pennsylvania Real Estate Investment Trust 1,930 38,484
PennyMac Mortgage Investment Trust 1,872 40,117
Piedmont Office Realty Trust, Inc., Class A 3,947 69,625
Plum Creek Timber Company, Inc. 4,045 157,795
Post Properties, Inc. 1,263 64,842
Potlatch Corp. 951 38,240
Power REIT (I) 1,108 11,401
Prologis, Inc. 11,884 448,027
PS Business Parks, Inc. 623 47,435
Public Storage 4,091 678,451
QTS Realty Trust, Inc., Class A 955 28,984
RAIT Financial Trust 2,187 16,249

The accompanying notes are an integral part of the financial statements. 285


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Total Stock Market Index Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Real estate investment trusts (continued)
Ramco-Gershenson Properties Trust 1,766 $ 28,698
Rayonier, Inc. 2,982 92,859
Realty Income Corp. 4,822 196,689
Redwood Trust, Inc. 2,106 34,917
Regency Centers Corp. 2,143 115,358
Resource Capital Corp. 3,205 15,608
Retail Opportunity Investments Corp. 1,793 26,357
Retail Properties of America, Inc., Class A 5,457 79,836
RLJ Lodging Trust 2,872 81,766
Rouse Properties, Inc. 1,430 23,123
Ryman Hospitality Properties 1,232 58,274
Sabra Health Care REIT, Inc. 1,195 29,062
Saul Centers, Inc. 631 29,493
Select Income REIT 1,310 31,506
Senior Housing Properties Trust 4,362 91,253
Silver Bay Realty Trust Corp. 1,100 17,831
Simon Property Group, Inc. 7,425 1,220,819
SL Green Realty Corp. 2,181 220,979
Sotherly Hotels, Inc. 2,532 19,750
Sovran Self Storage, Inc. 788 58,596
Spirit Realty Capital, Inc. 8,825 96,810
STAG Industrial, Inc. 1,715 35,518
Starwood Property Trust, Inc. 4,985 109,471
Starwood Waypoint Residential Trust 918 23,877
Strategic Hotels & Resorts, Inc. (I) 6,259 72,917
Summit Hotel Properties, Inc. 2,378 25,635
Sun Communities, Inc. 1,025 51,763
Sunstone Hotel Investors, Inc. 4,644 64,180
Tanger Factory Outlet Centers 2,168 70,937
Taubman Centers, Inc. 1,475 107,675
Terreno Realty Corp. 1,388 26,136
The Macerich Company 3,363 214,660
Two Harbors Investment Corp. 8,578 82,949
UDR, Inc. 5,913 161,129
UMH Properties, Inc. 3,539 33,621
Universal Health Realty Income Trust 503 20,965
Urstadt Biddle Properties, Inc. 242 4,160
Urstadt Biddle Properties, Inc., Class A 1,160 23,548
Ventas, Inc. 7,061 437,429
Vornado Realty Trust 4,420 441,823
Washington Prime Group, Inc. 3,712 64,886
Washington Real Estate Investment Trust 1,560 39,593
Weingarten Realty Investors 2,862 90,153
Western Asset Mortgage Capital Corp. 756 11,174
Weyerhaeuser Company 13,895 442,695
Wheeler Real Estate Investment Trust, Inc. 200 912
Whitestone REIT 1,906 26,570
Winthrop Realty Trust 1,447 21,806
WP Carey, Inc. 2,007 127,986
18,909,025
Real estate management and development - 0.1%
Alexander & Baldwin, Inc. 1,025 36,869
American Spectrum Realty, Inc. (I) 265 451
AV Homes, Inc. (I) 578 8,468
CBRE Group, Inc., Class A (I) 7,937 236,046
Consolidated-Tomoka Land Company 311 15,261
Forest City Enterprises, Inc., Class A (I) 4,896 95,766
Forestar Group, Inc. (I) 1,047 18,553
Jones Lang LaSalle, Inc. 1,021 128,993
Kennedy-Wilson Holdings, Inc. 2,289 54,844
Tejon Ranch Company (I) 488 13,684
The Howard Hughes Corp. (I) 963 144,450
The St. Joe Company (I)(L) 2,200 43,846
797,231
Thrifts and mortgage finance - 0.3%
Astoria Financial Corp. 2,156 26,713
Bank Mutual Corp. 2,559 16,403
BankFinancial Corp. 1,501 15,580
Beneficial Mutual Bancorp, Inc. (I) 1,922 24,563
Berkshire Hills Bancorp, Inc. 656 15,409
BofI Holding, Inc. (I) 329 23,922
Brookline Bancorp, Inc. 1,601 13,689
Cape Bancorp, Inc. 900 8,487
Capitol Federal Financial, Inc. 3,236 38,250
Chicopee Bancorp, Inc. 261 3,873
Clifton Bancorp, Inc. 517 6,509
Dime Community Bancshares, Inc. 830 11,952
Doral Financial Corp. (I) 195 1,295
ESB Financial Corp. 770 8,994
EverBank Financial Corp. 2,985 52,715
Federal Agricultural Mortgage Corp., Class C 323 10,381
Federal Home Loan Mortgage Corp. (I) 15,491 40,896
Federal National Mortgage Association (I)(L) 27,693 74,494
First Defiance Financial Corp. 319 8,616
First Financial Northwest, Inc. 873 8,913
Flagstar Bancorp, Inc. (I) 1,507 25,363
Fox Chase Bancorp, Inc. 564 9,199
HomeStreet, Inc. 394 6,733
Hudson City Bancorp, Inc. 12,343 119,974
IMPAC Mortgage Holdings, Inc. (I) 266 1,681
Kearny Financial Corp. (I) 1,615 21,528
Ladder Capital Corp., Class A (I) 2,073 39,180
Meridian Bancorp, Inc. (I) 1,838 19,409
MGIC Investment Corp. (I) 8,139 63,566
NASB Financial, Inc. (L) 241 5,712
New Hampshire Thrift Bancshares, Inc. 484 7,541
New York Community Bancorp, Inc. 10,122 160,636
NMI Holdings, Inc., Class A (I)(L) 1,469 12,707
Northfield Bancorp, Inc. 1,491 20,307
Northwest Bancshares, Inc. 1,984 24,006
Ocean Shore Holding Company 528 7,593
OceanFirst Financial Corp. 794 12,633
Ocwen Financial Corp. (I) 3,222 84,352
Oritani Financial Corp. 1,190 16,767
People’s United Financial, Inc. 7,489 108,366
Poage Bankshares Inc 362 5,314
Provident Financial Holdings, Inc. 475 6,930
Provident Financial Services, Inc. 1,435 23,491
Radian Group, Inc. 4,123 58,794
Security National Financial Corp., Class A (I) 441 2,192
SI Financial Group, Inc. 581 6,501
Simplicity Bancorp, Inc. 514 8,635
Sound Financial Bancorp, Inc. 308 5,532
SP Bancorp, Inc. (I) 271 7,973
State Investors Bancorp, Inc. (I) 367 5,872
Territorial Bancorp, Inc. 483 9,800
TFS Financial Corp. 7,160 102,531
Timberland Bancorp, Inc. 608 6,396
Walker & Dunlop, Inc. (I) 894 11,881
Washington Federal, Inc. 2,348 47,805
Westfield Financial, Inc. 1,133 7,999
WSFS Financial Corp. 229 16,399
1,512,952
98,557,890

The accompanying notes are an integral part of the financial statements. 286


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Total Stock Market Index Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Health care - 12.4%
Biotechnology - 2.9%
Aastrom Biosciences, Inc. (I) 158 $ 450
ACADIA Pharmaceuticals, Inc. (I)(L) 2,272 56,255
Acceleron Pharma, Inc. (I)(L) 639 19,323
Achillion Pharmaceuticals, Inc. (I)(L) 2,924 29,182
Acorda Therapeutics, Inc. (I) 997 33,778
Aegerion Pharmaceuticals, Inc. (I) 693 23,132
Affymax, Inc. (I) 914 137
Agenus, Inc. (I) 2,791 8,680
Agios Pharmaceuticals, Inc. (I)(L) 744 45,644
Akebia Therapeutics, Inc. (I)(L) 644 14,252
Alder Biopharmaceuticals, Inc. (I) 876 11,108
Alexion Pharmaceuticals, Inc. (I) 4,696 778,691
Alkermes PLC (I) 3,280 140,614
Alnylam Pharmaceuticals, Inc. (I) 1,814 141,673
AMAG Pharmaceuticals, Inc. (I) 504 16,083
Amgen, Inc. 18,078 2,539,236
Anacor Pharmaceuticals, Inc. (I)(L) 1,344 32,888
Anthera Pharmaceuticals, Inc. (I) 2,041 3,919
Arena Pharmaceuticals, Inc. (I)(L) 5,611 23,510
ARIAD Pharmaceuticals, Inc. (I)(L) 4,350 23,490
ArQule, Inc. (I) 1,903 2,131
Array BioPharma, Inc. (I) 3,361 11,999
Arrowhead Research Corp. (I)(L) 1,645 24,297
Asterias Biotherapeutics, Inc. (I) 151 915
Auspex Pharmaceuticals, Inc. (I) 752 19,304
AVEO Pharmaceuticals, Inc. (I) 937 1,040
BioCryst Pharmaceuticals, Inc. (I)(L) 2,052 20,069
Biogen Idec, Inc. (I) 5,665 1,874,039
BioMarin Pharmaceutical, Inc. (I) 3,366 242,891
BioSpecifics Technologies Corp. (I) 213 7,519
Biota Pharmaceuticals, Inc. (I) 2,322 5,735
Bluebird Bio, Inc. (I) 637 22,856
Cel-Sci Corp. (I) 923 842
Celgene Corp. (I) 19,504 1,848,589
Celladon Corp. (I) 703 7,353
Celldex Therapeutics, Inc. (I)(L) 2,207 28,603
Celsion Corp. (I) 2,673 7,912
Cepheid, Inc. (I) 1,626 71,593
ChemoCentryx, Inc. (I) 1,019 4,586
Chimerix, Inc. (I) 598 16,517
Clovis Oncology, Inc. (I)(L) 780 35,381
Coronado Biosciences, Inc. (I) 808 1,697
CTI BioPharma Corp. (I)(L) 3,833 9,276
Cubist Pharmaceuticals, Inc. (I) 1,790 118,749
Curis, Inc. (I) 1,723 2,429
Cyclacel Pharmaceuticals, Inc. (I) 2,555 7,767
Cytokinetics, Inc. (I) 592 2,084
Cytomedix, Inc. (I)(L) 17,084 6,832
Cytori Therapeutics, Inc. (I)(L) 4,643 3,139
CytRx Corp. (I) 2,471 6,276
Dendreon Corp. (I) 5,942 8,556
Dicerna Pharmaceuticals, Inc. (I) 616 7,842
Discovery Laboratories, Inc. (I) 4,915 9,044
Durata Therapeutics, Inc. (I)(L) 972 12,325
Dyax Corp. (I) 3,331 33,710
Dynavax Technologies Corp. (I) 8,045 11,504
Emergent Biosolutions, Inc. (I) 908 19,349
Enanta Pharmaceuticals, Inc. (I)(L) 448 17,727
Enzon Pharmaceuticals, Inc. 1,758 1,899
Epirus Biopharmaceuticals, Inc. (I) 39 280
Epizyme, Inc. (I)(L) 647 17,540
Exact Sciences Corp. (I)(L) 1,948 37,752
Exelixis, Inc. (I) 4,652 7,118
Foundation Medicine, Inc. (I)(L) 681 12,912
Galena Biopharma, Inc. (I) 4,519 9,309
Genomic Health, Inc. (I)(L) 747 21,148
Geron Corp. (I)(L) 3,630 7,260
Gilead Sciences, Inc. (I) 36,767 3,913,847
GTx, Inc. (I) 1,712 1,263
Halozyme Therapeutics, Inc. (I)(L) 2,949 26,836
Hyperion Therapeutics, Inc. (I)(L) 613 15,460
Idera Pharmaceuticals, Inc. (I) 4,057 9,291
ImmunoCellular Therapeutics, Ltd. (I) 2,073 1,845
ImmunoGen, Inc. (I)(L) 1,931 20,449
Immunomedics, Inc. (I)(L) 2,223 8,270
Incyte Corp. (I) 4,052 198,751
Infinity Pharmaceuticals, Inc. (I) 1,260 16,909
Inovio Pharmaceuticals, Inc. (I)(L) 1,464 14,420
Insmed, Inc. (I) 1,079 14,081
Insys Therapeutics, Inc. (I) 990 38,392
Intercept Pharmaceuticals, Inc. (I) 467 110,534
Intrexon Corp. (I)(L) 2,463 45,763
Ironwood Pharmaceuticals, Inc. (I) 3,209 41,573
Isis Pharmaceuticals, Inc. (I)(L) 2,779 107,909
Keryx Biopharmaceuticals, Inc. (I)(L) 2,431 33,426
Kythera Biopharmaceuticals, Inc. (I)(L) 729 23,882
Lexicon Pharmaceuticals, Inc. (I)(L) 11,846 16,703
Ligand Pharmaceuticals, Inc. (I) 534 25,093
LipoScience, Inc. (I) 1,178 6,102
MacroGenics, Inc. (I) 697 14,567
MannKind Corp. (I)(L) 9,636 56,949
Medivation, Inc. (I) 1,834 181,328
Merrimack Pharmaceuticals, Inc. (I)(L) 3,135 27,525
MiMedx Group, Inc. (I)(L) 2,301 16,406
Momenta Pharmaceuticals, Inc. (I) 1,421 16,114
Myriad Genetics, Inc. (I)(L) 1,918 73,977
Nanosphere, Inc. (I) 1,542 879
Navidea Biopharmaceuticals, Inc. (I)(L) 7,974 10,526
Neurocrine Biosciences, Inc. (I) 1,654 25,918
NewLink Genetics Corp. (I)(L) 768 16,451
Northwest Biotherapeutics, Inc. (I)(L) 2,131 10,719
Novavax, Inc. (I)(L) 6,374 26,580
NPS Pharmaceuticals, Inc. (I) 2,475 64,350
Omthera Pharmaceuticals, Inc. (I) 598 1,076
OncoGenex Pharmaceuticals, Inc. (I) 486 1,298
OncoMed Pharmaceuticals, Inc. (I)(L) 664 12,570
Onconova Therapeutics, Inc. (I) 648 2,786
Oncothyreon, Inc. (I) 4,188 8,041
Ophthotech Corp. (I) 795 30,949
OPKO Health, Inc. (I)(L) 9,703 82,573
Orexigen Therapeutics, Inc. (I)(L) 3,358 14,305
Osiris Therapeutics, Inc. (I)(L) 877 11,041
PDL BioPharma, Inc. (L) 3,179 23,747
Peregrine Pharmaceuticals, Inc. (I)(L) 7,182 9,768
Pharmacyclics, Inc. (I) 1,780 209,025
PharmAthene, Inc. (I) 2,050 3,649
Portola Pharmaceuticals, Inc. (I) 802 20,275
Protalix BioTherapeutics, Inc. (I)(L) 2,723 6,590
PTC Therapeutics, Inc. (I) 640 28,166
Puma Biotechnology, Inc. (I) 682 162,705
Raptor Pharmaceutical Corp. (I)(L) 1,637 15,699
Receptos, Inc. (I) 437 27,142
Regeneron Pharmaceuticals, Inc. (I) 2,383 859,119
Regulus Therapeutics, Inc. (I)(L) 1,599 10,921
Repligen Corp. (I)(L) 1,012 20,149

The accompanying notes are an integral part of the financial statements. 287


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Total Stock Market Index Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Biotechnology (continued)
Retrophin, Inc. (I) 1,008 $ 9,092
Rigel Pharmaceuticals, Inc. (I) 2,154 4,179
Sangamo BioSciences, Inc. (I)(L) 1,501 16,188
Sarepta Therapeutics, Inc. (I) 1,043 22,007
Savient Pharmaceuticals, Inc. (I) 1,834 0
Seattle Genetics, Inc. (I) 2,993 111,280
SIGA Technologies, Inc. (I) 1,202 1,737
Spectrum Pharmaceuticals, Inc. (I)(L) 1,952 15,889
Stemline Therapeutics, Inc. (I) 857 10,678
Sunesis Pharmaceuticals, Inc. (I)(L) 1,601 11,431
Synageva BioPharma Corp. (I)(L) 834 57,363
Synergy Pharmaceuticals, Inc. (I)(L) 2,510 6,990
Synta Pharmaceuticals Corp. (I) 3,256 9,801
Targacept, Inc. (I) 722 1,827
TESARO, Inc. (I) 903 24,309
Threshold Pharmaceuticals, Inc. (I) 2,246 8,108
TrovaGene, Inc. (I) 2,253 10,319
Ultragenyx Pharmaceutical, Inc. (I) 799 45,223
United Therapeutics Corp. (I) 1,207 155,281
Vanda Pharmaceuticals, Inc. (I) 813 8,439
Verastem, Inc. (I)(L) 1,323 11,272
Versartis, Inc. (I)(L) 734 13,939
Vertex Pharmaceuticals, Inc. (I) 5,627 631,968
Vital Therapies, Inc. (I)(L) 664 13,552
XOMA Corp. (I)(L) 3,701 15,581
ZIOPHARM Oncology, Inc. (I)(L) 4,239 11,191
16,612,066
Health care equipment and supplies - 1.8%
Abaxis, Inc. 587 29,767
Abbott Laboratories 37,072 1,541,824
ABIOMED, Inc. (I)(L) 1,039 25,798
Accuray, Inc. (I)(L) 1,959 14,222
Alere, Inc. (I) 2,037 78,995
Align Technology, Inc. (I) 1,916 99,019
Alphatec Holdings, Inc. (I) 2,105 3,579
Analogic Corp. 318 20,339
AngioDynamics, Inc. (I) 1,074 14,735
Anika Therapeutics, Inc. (I) 459 16,827
Antares Pharma, Inc. (I)(L) 3,213 5,880
AtriCure, Inc. (I) 972 14,308
Atrion Corp. 62 18,911
Baxano Surgical, Inc. (I) 1,095 200
Baxter International, Inc. 12,998 932,866
Becton, Dickinson and Company 4,641 528,192
Biolase, Inc. (I) 1,230 3,063
Boston Scientific Corp. (I) 31,987 377,766
C.R. Bard, Inc. 1,857 265,012
Cantel Medical Corp. 1,032 35,480
Cardiovascular Systems, Inc. (I) 758 17,912
CareFusion Corp. (I) 5,094 230,504
Cerus Corp. (I)(L) 1,864 7,475
CONMED Corp. 658 24,241
Cyberonics, Inc. (I) 696 35,607
Cynosure, Inc., Class A (I) 691 14,511
Delcath Systems, Inc. (I) 78 154
DENTSPLY International, Inc. 3,312 151,027
Derma Sciences, Inc. (I) 975 8,122
DexCom, Inc. (I) 1,694 67,743
Edwards Lifesciences Corp. (I) 2,650 270,698
Endologix, Inc. (I) 1,563 16,568
EnteroMedics, Inc. (I) 2,044 2,514
Exactech, Inc. (I) 465 10,644
GenMark Diagnostics, Inc. (I)(L) 1,303 11,688
Globus Medical, Inc., Class A (I) 2,359 46,402
Greatbatch, Inc. (I) 646 27,526
Haemonetics Corp. (I) 1,210 42,253
Hansen Medical, Inc. (I) 5,567 6,569
HeartWare International, Inc. (I) 402 31,207
Hill-Rom Holdings, Inc. 1,350 55,931
Hologic, Inc. (I) 6,532 158,924
ICU Medical, Inc. (I) 360 23,105
IDEXX Laboratories, Inc. (I) 1,257 148,112
Insulet Corp. (I) 1,332 49,084
Integra LifeSciences Holdings Corp. (I) 811 40,258
Intuitive Surgical, Inc. (I) 934 431,340
Invacare Corp. 804 9,495
LDR Holding Corp. (I)(L) 693 21,573
LeMaitre Vascular, Inc. 746 5,132
Masimo Corp. (I) 1,464 31,154
Medical Action Industries, Inc. (I) 647 8,916
Medtronic, Inc. 23,938 1,482,959
Mela Sciences, Inc. (I) 89 153
Meridian Bioscience, Inc. (L) 1,077 19,052
Merit Medical Systems, Inc. (I) 1,003 11,916
Misonix, Inc. (I) 949 11,407
Natus Medical, Inc. (I) 845 24,936
Neogen Corp. (I) 891 35,195
NuVasive, Inc. (I) 1,152 40,170
NxStage Medical, Inc. (I) 1,350 17,726
OraSure Technologies, Inc. (I) 1,641 11,848
Orthofix International NV (I) 450 13,932
PhotoMedex, Inc. (I)(L) 575 3,565
Quidel Corp. (I) 889 23,887
ResMed, Inc. (L) 3,372 166,138
Rockwell Medical Technologies, Inc. (I) 1,088 9,944
RTI Surgical, Inc. (I) 1,955 9,345
Sirona Dental Systems, Inc. (I) 1,325 101,601
Spectranetics Corp. (I) 1,076 28,589
St. Jude Medical, Inc. 6,966 418,866
STAAR Surgical Company (I) 873 9,280
STERIS Corp. 1,430 77,163
Stryker Corp. 9,040 729,980
SurModics, Inc. (I) 502 9,116
Symmetry Medical, Inc. (I) 1,015 10,241
Synergetics USA, Inc. (I) 781 2,663
Tandem Diabetes Care, Inc. (I) 581 7,797
Teleflex, Inc. 962 101,048
The Cooper Companies, Inc. 1,162 180,982
Thoratec Corp. (I) 1,365 36,486
Unilife Corp. (I)(L) 4,336 9,951
Uroplasty, Inc. (I) 1,021 2,553
Varian Medical Systems, Inc. (I) 2,544 203,825
Vascular Solutions, Inc. (I) 536 13,239
Volcano Corp. (I) 1,271 13,523
West Pharmaceutical Services, Inc. 1,727 77,301
Wright Medical Group, Inc. (I) 1,188 35,996
Zeltiq Aesthetics, Inc. (I) 935 21,159
Zimmer Holdings, Inc. 4,070 409,239
10,415,943
Health care providers and services - 2.2%
Acadia Healthcare Company, Inc. (I) 1,241 60,189
Accretive Health, Inc. (I)(L) 2,325 18,042
Addus HomeCare Corp. (I) 425 8,330
Aetna, Inc. 8,806 713,286
Air Methods Corp. (I)(L) 930 51,662
Alliance HealthCare Services, Inc. (I) 367 8,298

The accompanying notes are an integral part of the financial statements. 288


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Total Stock Market Index Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Health care providers and services (continued)
Almost Family, Inc. (I) 242 $ 6,575
Amedisys, Inc. (I) 738 14,885
AmerisourceBergen Corp. 5,474 423,140
AMN Healthcare Services, Inc. (I) 1,002 15,731
Amsurg Corp. (I) 790 39,540
Bio-Reference Labs, Inc. (I)(L) 734 20,596
BioScrip, Inc. (I)(L) 1,595 11,021
Brookdale Senior Living, Inc. (I) 3,931 126,657
Capital Senior Living Corp. (I) 703 14,925
Cardinal Health, Inc. 8,171 612,171
Catamaran Corp. (I) 4,900 206,535
Centene Corp. (I) 1,323 109,425
Chemed Corp. (L) 429 44,144
Cigna Corp. 6,607 599,189
Community Health Systems, Inc. (I) 2,740 150,125
Corvel Corp. (I) 482 16,412
Cross Country Healthcare, Inc. (I) 1,058 9,829
DaVita HealthCare Partners, Inc. (I) 5,054 369,650
Envision Healthcare Holdings, Inc. (I) 4,223 146,454
ExamWorks Group, Inc. (I) 840 27,510
Express Scripts Holding Company (I) 18,853 1,331,587
Five Star Quality Care, Inc. (I) 1,369 5,161
Gentiva Health Services, Inc. (I) 809 13,575
Hanger, Inc. (I) 841 17,257
HCA Holdings, Inc. (I) 10,731 756,750
Health Net, Inc. (I) 1,806 83,275
HealthSouth Corp. 2,130 78,597
Healthways, Inc. (I) 968 15,507
Henry Schein, Inc. (I) 2,061 240,045
Humana, Inc. 3,725 485,330
IPC The Hospitalist Company, Inc. (I) 426 19,081
Kindred Healthcare, Inc. 1,247 24,192
Laboratory Corp. of America Holdings (I) 2,120 215,710
Landauer, Inc. 263 8,682
LHC Group, Inc. (I) 506 11,739
LifePoint Hospitals, Inc. (I) 1,152 79,707
Magellan Health Services, Inc. (I) 595 32,564
McKesson Corp. 5,509 1,072,437
Medcath Corp. (I) 613 840
MEDNAX, Inc. (I) 2,404 131,787
Molina Healthcare, Inc. (I) 1,059 44,796
MWI Veterinary Supply, Inc. (I) 319 47,340
National Healthcare Corp. 369 20,483
National Research Corp., Class A (I) 600 7,806
National Research Corp., Class B (I) 660 24,486
Omnicare, Inc. 2,447 152,350
Owens & Minor, Inc. (L) 1,467 48,030
Patterson Companies, Inc. 2,455 101,711
PDI, Inc. (I) 770 1,848
PharMerica Corp. (I) 818 19,984
Premier, Inc., Class A (I) 3,473 114,123
Quest Diagnostics, Inc. 3,564 216,264
RadNet, Inc. (I) 1,485 9,831
Select Medical Holdings Corp. 3,255 39,158
Skilled Healthcare Group, Inc., Class A (I) 1,126 7,432
Surgical Care Affiliates, Inc. (I) 1,005 26,864
Team Health Holdings, Inc. (I) 1,721 99,801
Tenet Healthcare Corp. (I) 2,362 140,279
The Ensign Group, Inc. 547 19,036
The Providence Service Corp. (I) 384 18,578
UnitedHealth Group, Inc. 23,712 2,045,160
Universal American Corp. (I) 1,908 15,340
Universal Health Services, Inc., Class B 2,344 244,948
VCA Antech, Inc. (I) 2,095 82,396
WellCare Health Plans, Inc. (I) 1,019 61,486
WellPoint, Inc. 6,815 815,210
12,872,884
Health care technology - 0.2%
Allscripts Healthcare Solutions, Inc. (I) 4,228 56,719
athenahealth, Inc. (I)(L) 894 117,731
Castlight Health, Inc., B Shares (I) 2,601 33,657
Cerner Corp. (I) 8,173 486,866
Computer Programs & Systems, Inc. 360 20,696
HealthStream, Inc. (I) 711 17,071
HMS Holdings Corp. (I)(L) 2,028 38,228
IMS Health Holdings, Inc. (I) 7,260 190,139
MedAssets, Inc. (I) 1,448 30,003
Medidata Solutions, Inc. (I) 1,308 57,931
Merge Healthcare, Inc. (I) 1,992 4,382
Omnicell, Inc. (I) 940 25,690
Quality Systems, Inc. 1,382 19,030
Veeva Systems, Inc., Class A (I) 3,080 86,764
Vocera Communications, Inc. (I) 551 4,447
1,189,354
Life sciences tools and services - 0.6%
Accelerate Diagnostics, Inc. (I)(L) 1,188 25,518
Affymetrix, Inc. (I)(L) 2,012 16,056
Agilent Technologies, Inc. 7,871 448,490
Apricus Biosciences, Inc. (I) 3,553 5,365
BG Medicine, Inc. (I) 1,563 851
Bio-Rad Laboratories, Inc., Class A (I) 662 75,071
Bruker Corp. (I) 3,989 73,856
Cambrex Corp. (I) 660 12,329
Charles River
       Laboratories International, Inc. (I) 1,154 68,940
Covance, Inc. (I) 1,344 105,773
Enzo Biochem, Inc. (I) 1,398 7,200
Fluidigm Corp. (I)(L) 639 15,656
Illumina, Inc. (I) 3,055 500,776
Luminex Corp. (I) 925 18,038
Mettler-Toledo International, Inc. (I) 711 182,108
NeoGenomics, Inc. (I) 2,010 10,472
Pacific Biosciences of California, Inc. (I) 1,657 8,136
PAREXEL International Corp. (I) 1,321 83,342
PerkinElmer, Inc. 2,680 116,848
Quintiles Transnational Holdings, Inc. (I) 2,792 155,738
Sequenom, Inc. (I) 2,766 8,215
Techne Corp. 892 83,447
Thermo Fisher Scientific, Inc. 9,085 1,105,645
Waters Corp. (I) 2,012 199,429
3,327,299
Pharmaceuticals - 4.7%
AbbVie, Inc. 37,909 2,189,624
AcelRx Pharmaceuticals, Inc. (I)(L) 1,558 8,553
Actavis PLC (I) 6,297 1,519,340
Acura Pharmaceuticals, Inc. (I) 1,383 1,084
Aerie Pharmaceuticals, Inc. (I) 629 13,014
Akorn, Inc. (I) 2,483 90,058
Alexza Pharmaceuticals, Inc. (I) 2,067 4,816
Alimera Sciences, Inc. (I) 1,850 10,027
Allergan, Inc. 7,113 1,267,465
Ampio Pharmaceuticals, Inc. (I)(L) 1,904 6,721
Aratana Therapeutics, Inc. (I) 557 5,592
Assembly Biosciences, Inc. (I) 91 745

The accompanying notes are an integral part of the financial statements. 289


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Total Stock Market Index Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Pharmaceuticals (continued)
Auxilium Pharmaceuticals, Inc. (I) 1,190 $ 35,522
AVANIR Pharmaceuticals, Inc., Class A (I) 4,052 48,300
BioDelivery Sciences International, Inc. (I) 1,544 26,387
Bristol-Myers Squibb Company 39,500 2,021,610
Cempra, Inc. (I)(L) 1,116 12,231
Chelsea Therapeutics International, Ltd. (I)(L) 1,686 135
Columbia Laboratories, Inc. (I) 351 2,067
ContraVir Pharmaceuticals, Inc. (I) 246 253
Corcept Therapeutics, Inc. (I)(L) 4,662 12,494
Cumberland Pharmaceuticals, Inc. (I) 672 3,320
Depomed, Inc. (I) 1,587 24,107
Durect Corp. (I) 2,824 4,151
Eli Lilly & Company 27,014 1,751,858
Endo International PLC (I) 2,745 187,593
Endocyte, Inc. (I) 899 5,466
Forest Laboratories, Inc. (I) 686 0
Furiex Pharmaceuticals, Inc. (I) 242 2,364
Horizon Pharma, Inc. (I)(L) 2,094 25,714
Hospira, Inc. (I) 3,963 206,195
Impax Laboratories, Inc. (I) 1,658 39,311
Johnson & Johnson 67,685 7,214,544
Lannett Company, Inc. (I) 902 41,203
Mallinckrodt PLC (I) 1,290 116,330
Merck & Company, Inc. 70,100 4,155,528
Mylan, Inc. (I) 9,156 416,506
Nektar Therapeutics (I) 3,002 36,234
Omeros Corp. (I)(L) 1,259 16,014
Pacira Pharmaceuticals, Inc. (I) 873 84,611
Pain Therapeutics, Inc. (I) 1,407 5,501
Pernix Therapeutics Holdings (I) 1,401 10,760
Pfizer, Inc. 153,962 4,552,656
POZEN, Inc. (I) 1,227 9,006
Prestige Brands Holdings, Inc. (I) 1,278 41,369
Relypsa, Inc. (I) 705 14,868
Repros Therapeutics, Inc. (I) 966 9,563
Sagent Pharmaceuticals, Inc. (I) 726 22,579
Salix Pharmaceuticals, Ltd. (I) 1,485 232,016
Sucampo Pharmaceuticals, Inc., Class A (I) 1,511 9,822
Supernus Pharmaceuticals, Inc. (I) 1,455 12,644
Tetraphase Pharmaceuticals, Inc. (I) 1,157 23,082
The Medicines Company (I) 1,542 34,417
TherapeuticsMD, Inc. (I)(L) 4,202 19,497
Theravance, Inc. (L) 2,605 44,519
Transcept Pharmaceuticals, Inc. 4,251 8,608
Trius Therapeutics, Inc. (I)(L) 1,243 137
Trubion Pharmaceuticals, Inc. (I) 1,161 0
Vivus, Inc. (I)(L) 2,325 8,975
XenoPort, Inc. (I) 1,347 7,247
Zoetis, Inc. 11,896 439,557
Zogenix, Inc. (I) 3,564 4,099
27,118,009
71,535,555
Industrials - 10.5%
Aerospace and defense - 2.4%
AAR Corp. 1,006 24,295
Aerovironment, Inc. (I) 570 17,140
Alliant Techsystems, Inc. 755 96,368
American Science & Engineering, Inc. 220 12,184
API Technologies Corp. (I) 1,409 3,311
Astronics Corp. (I) 396 18,881
Astronics Corp., Class B (I) 174 8,265
B/E Aerospace, Inc. (I) 2,507 210,438
CPI Aerostructures, Inc. (I) 277 2,728
Cubic Corp. 656 30,701
Curtiss-Wright Corp. 1,137 74,951
DigitalGlobe, Inc. (I) 1,782 50,787
Ducommun, Inc. (I) 248 6,798
Engility Holdings, Inc. (I) 554 17,268
Erickson Air-Crane, Inc. (I) 507 6,586
Esterline Technologies Corp. (I) 729 81,116
Exelis, Inc. 4,626 76,514
GenCorp, Inc. (I)(L) 1,536 24,530
General Dynamics Corp. 8,420 1,070,098
HEICO Corp., Class A 1,395 56,219
Hexcel Corp. (I) 2,343 93,017
Honeywell International, Inc. 18,808 1,751,401
Huntington Ingalls Industries, Inc. 1,174 122,343
Kratos Defense & Security Solutions, Inc. (I) 1,499 9,833
L-3 Communications Holdings, Inc. 2,050 243,786
LMI Aerospace, Inc. (I) 376 4,813
Lockheed Martin Corp. 7,665 1,401,009
Moog, Inc., Class A (I) 1,069 73,120
National Presto Industries, Inc. (L) 167 10,139
Northrop Grumman Corp. 5,315 700,304
Orbital Sciences Corp. (I) 1,479 41,116
Precision Castparts Corp. 3,479 824,106
Raytheon Company 7,611 773,430
Rockwell Collins, Inc. 3,195 250,808
Sparton Corp. (I) 344 8,480
Spirit Aerosystems Holdings, Inc., Class A (I) 3,453 131,421
Taser International, Inc. (I) 1,282 19,794
Teledyne Technologies, Inc. (I) 905 85,079
Textron, Inc. 6,767 243,544
The Boeing Company 17,593 2,240,996
The KEYW Holding Corp. (I)(L) 815 9,022
TransDigm Group, Inc. 1,269 233,915
Triumph Group, Inc. 1,233 80,207
United Technologies Corp. 22,009 2,324,150
Vectrus, Inc. (I) 257 5,019
13,570,030
Air freight and logistics - 0.7%
Air Transport Services Group, Inc. (I) 1,747 12,718
Atlas Air Worldwide Holdings, Inc. (I) 649 21,430
C.H. Robinson Worldwide, Inc. 3,702 245,517
Echo Global Logistics, Inc. (I) 676 15,920
Expeditors International of Washington, Inc. 4,831 196,042
FedEx Corp. 7,273 1,174,226
Forward Air Corp. 830 37,209
Hub Group, Inc., Class A (I) 1,024 41,503
Park-Ohio Holdings Corp. 343 16,416
United Parcel Service, Inc., Class B 22,257 2,187,641
UTi Worldwide, Inc. (I)(L) 2,522 26,809
XPO Logistics, Inc. (I)(L) 1,240 46,711
4,022,142
Airlines - 0.5%
Alaska Air Group, Inc. 3,282 142,898
Allegiant Travel Company 464 57,378
American Airlines Group, Inc. 18,090 641,833
Delta Air Lines, Inc. 20,531 742,196
Hawaiian Holdings, Inc. (I)(L) 1,540 20,713
JetBlue Airways Corp. (I) 6,490 68,924
Republic Airways Holdings, Inc. (I) 1,141 12,677
SkyWest, Inc. 1,535 11,942
Southwest Airlines Company 16,801 567,370

The accompanying notes are an integral part of the financial statements. 290


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Total Stock Market Index Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Airlines (continued)
Spirit Airlines, Inc. (I) 1,723 $ 119,128
United Continental Holdings, Inc. (I) 8,801 411,799
2,796,858
Building products - 0.2%
AAON, Inc. 1,449 24,647
American Woodmark Corp. (I) 470 17,324
AO Smith Corp. 2,206 104,300
Apogee Enterprises, Inc. 713 28,377
Armstrong World Industries, Inc. (I) 1,369 76,664
Builders FirstSource, Inc. (I) 2,899 15,800
Fortune Brands Home & Security, Inc. 4,027 165,550
Gibraltar Industries, Inc. (I) 947 12,964
Griffon Corp. 1,661 18,919
Insteel Industries, Inc. 563 11,575
Lennox International, Inc. 1,177 90,476
Masco Corp. 8,607 205,879
NCI Building Systems, Inc. (I) 1,785 34,629
Nortek, Inc. (I) 350 26,075
Owens Corning 2,856 90,678
Patrick Industries, Inc. (I) 368 15,588
PGT, Inc. (I) 1,305 12,163
Ply Gem Holdings, Inc. (I) 1,531 16,596
Quanex Building Products Corp. 980 17,728
Simpson Manufacturing Company, Inc. 1,094 31,890
Trex Company, Inc. (I) 844 29,177
Universal Forest Products, Inc. 435 18,579
USG Corp. (I)(L) 3,229 88,765
1,154,343
Commercial services and supplies - 0.6%
ABM Industries, Inc. 1,288 33,089
ACCO Brands Corp. (I) 2,455 16,940
ARC Document Solutions, Inc. (I) 1,558 12,620
Brady Corp., Class A 1,191 26,726
Casella Waste Systems, Inc., Class A (I) 1,234 4,751
Cintas Corp. 2,871 202,664
Civeo Corp. 2,666 30,952
Clean Harbors, Inc. (I) 1,477 79,640
Copart, Inc. (I) 2,964 92,818
Covanta Holding Corp. 3,037 64,445
Deluxe Corp. 1,221 67,350
Ennis, Inc. 718 9,456
Fuel Tech, Inc. (I) 793 3,370
G&K Services, Inc., Class A 454 25,143
Healthcare Services Group, Inc. 1,683 48,151
Heritage-Crystal Clean, Inc. (I) 768 11,412
Herman Miller, Inc. 1,550 46,268
HNI Corp. 1,139 40,993
Hudson Technologies, Inc. (I) 1,078 3,568
InnerWorkings, Inc. (I) 1,268 10,258
Interface, Inc. 1,612 26,018
Intersections, Inc. 680 2,611
KAR Auction Services, Inc. 3,268 93,563
Kimball International, Inc., Class B 1,061 15,968
Knoll, Inc. 1,200 20,772
Matthews International Corp., Class A 898 39,413
McGrath RentCorp. 612 20,930
Metalico, Inc. (I) 1,349 1,484
Mobile Mini, Inc. 1,167 40,810
MSA Safety, Inc. 925 45,695
Multi-Color Corp. 538 24,468
NL Industries, Inc. 1,224 9,009
Performant Financial Corp. (I) 960 7,757
Pitney Bowes, Inc. 4,820 120,452
Quad/Graphics, Inc. 1,184 22,792
R.R. Donnelley & Sons Company 4,875 80,243
Republic Services, Inc. 8,564 334,167
Rollins, Inc. 3,435 100,577
SP Plus Corp. (I) 481 9,120
Steelcase, Inc., Class A 3,134 50,739
Stericycle, Inc. (I) 2,018 235,218
Swisher Hygiene, Inc. (I) 450 1,368
Team, Inc. (I) 589 22,329
Tetra Tech, Inc. 1,545 38,594
The ADT Corp. (L) 4,636 164,393
The Brink’s Company 1,094 26,300
UniFirst Corp. 475 45,880
United Stationers, Inc. 1,007 37,833
US Ecology, Inc. 556 25,999
Versar, Inc. (I) 1,039 3,356
Viad Corp. 689 14,228
Waste Connections, Inc. 2,958 143,522
Waste Management, Inc. 10,963 521,071
West Corp. 1,935 57,005
3,234,298
Construction and engineering - 0.2%
AECOM Technology Corp. (I) 2,422 81,743
Aegion Corp. (I) 1,004 22,339
Ameresco, Inc., Class A (I) 1,114 7,631
Comfort Systems USA, Inc. 940 12,737
Dycom Industries, Inc. (I) 863 26,503
EMCOR Group, Inc. 1,546 61,778
Fluor Corp. 3,857 257,609
Furmanite Corp. (I) 1,126 7,612
Granite Construction, Inc. 951 30,251
Great Lakes Dredge & Dock Corp. (I) 2,049 12,663
Jacobs Engineering Group, Inc. (I) 3,098 151,244
KBR, Inc. 3,532 66,508
Layne Christensen Company (I)(L) 532 5,166
MasTec, Inc. (I) 1,783 54,595
MYR Group, Inc. (I) 561 13,509
Orion Marine Group, Inc. (I) 763 7,615
Pike Corp. (I) 949 11,284
Primoris Services Corp. 1,267 34,006
Quanta Services, Inc. (I) 5,027 182,430
Sterling Construction Company, Inc. (I) 796 6,105
Tutor Perini Corp. (I) 1,191 31,442
URS Corp. 1,743 100,414
1,185,184
Electrical equipment - 0.6%
Active Power, Inc. (I) 864 1,728
Acuity Brands, Inc. 1,050 123,596
American Superconductor Corp. (I) 1,242 1,751
AMETEK, Inc. 5,813 291,871
AZZ, Inc. 669 27,944
Broadwind Energy, Inc. (I) 481 3,603
Capstone Turbine Corp. (I)(L) 11,149 11,929
Eaton Corp. PLC 11,347 719,059
Emerson Electric Company 16,940 1,060,105
Encore Wire Corp. 509 18,879
EnerSys 1,186 69,547
Enphase Energy, Inc. (I) 1,270 19,037
Espey Manufacturing & Electronics Corp. 162 3,261
Franklin Electric Company, Inc. 1,168 40,576
FuelCell Energy, Inc. (I)(L) 8,334 17,418

The accompanying notes are an integral part of the financial statements. 291


John Hancock Variable Insurance Trust

PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)


Total Stock Market Index Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Electrical equipment (continued)
General Cable Corp. 1,116         $ 16,829
Global Power Equipment Group, Inc. 699 10,415
GrafTech International, Ltd. (I) 3,533 16,181
Hubbell, Inc., Class B 1,387 167,175
Lighting Science Group Corp. (I) 3,647 667
Lime Energy Company (I) 158   510
Plug Power, Inc. (I)(L) 3,427 15,730
Polypore International, Inc. (I)(L) 1,089 42,373
Powell Industries, Inc. 356 14,546
Power Solutions International, Inc. (I)(L) 259 17,871
Preformed Line Products Company 151 7,967
Regal-Beloit Corp. 1,083   69,583
Revolution Lighting Technologies, Inc. (I)(L) 2,016 3,387
Rockwell Automation, Inc. 3,311 363,813
SL Industries, Inc. (I) 235 11,473
SolarCity Corp. (I)(L) 2,235 133,206
The Babcock & Wilcox Company 2,624 72,659
Thermon Group Holdings, Inc. (I) 760 18,559
Valence Technology, Inc. (I) 5,079 181
Vicor Corp. (I) 1,178 11,073
3,404,502
Industrial conglomerates - 1.8%
3M Company 15,896 2,252,145
Carlisle Companies, Inc. 1,535 123,383
Danaher Corp. 16,701 1,268,942
General Electric Company 241,756 6,193,789
Raven Industries, Inc. 906 22,106
Roper Industries, Inc. 2,343 342,757
10,203,122
Machinery - 1.8%
Actuant Corp., Class A 1,781 54,356
AGCO Corp. 2,312 105,104
Albany International Corp., Class A 756 25,734
Allison Transmission Holdings, Inc. 4,234 120,627
Altra Industrial Motion Corp. 757 22,074
American Railcar Industries, Inc. (L) 519 38,364
Astec Industries, Inc. 567 20,678
Barnes Group, Inc. 1,329 40,335
Blount International, Inc. (I) 1,228 18,580
Briggs & Stratton Corp. 1,078 19,426
Caterpillar, Inc. 15,080 1,493,372
Chart Industries, Inc. (I)(L) 708 43,280
CIRCOR International, Inc. 465 31,308
CLARCOR, Inc. 1,194 75,318
Colfax Corp. (I) 2,435 138,722
Columbus McKinnon Corp. 651 14,315
Commercial Vehicle Group, Inc. (I) 1,067 6,594
Crane Company 1,353 85,523
Cummins, Inc. 4,456 588,103
Deere & Company 8,840 724,792
Donaldson Company, Inc. 3,471 141,027
Douglas Dynamics, Inc. 897 17,492
Dover Corp. 4,075 327,345
Dynamic Materials Corp. 379 7,220
Energy Recovery, Inc. (I)(L) 1,363 4,825
EnPro Industries, Inc. (I) 496 30,023
ESCO Technologies, Inc. 685 23,824
Federal Signal Corp. 1,496 19,807
Flowserve Corp. 3,333 235,043
FreightCar America, Inc. 399 13,287
Graco, Inc. 1,484 108,302
Graham Corp. 360 10,350
Harsco Corp. 2,023 43,312
Hillenbrand, Inc. 1,580 48,806
Hyster-Yale Materials Handling, Inc. 360 25,783
IDEX Corp. 1,962 141,990
Illinois Tool Works, Inc. 10,234 863,954
ITT Corp. 2,155 96,846
John Bean Technologies Corp. 744 20,929
Joy Global, Inc. (L) 2,471 134,768
Kadant, Inc. 356 13,902
Kennametal, Inc. 1,834 75,763
LB Foster Company, Class A 393 18,054
Lincoln Electric Holdings, Inc. 1,978 136,749
Lindsay Corp. (L) 317 23,696
Lydall, Inc. (I) 557 15,045
Manitex International, Inc. (I) 420 4,742
Meritor, Inc. (I) 2,393 25,964
Middleby Corp. (I) 1,377 121,355
Mueller Industries, Inc. 1,282 36,588
Mueller Water Products, Inc., Class A 4,056 33,584
Navistar International Corp. (I)(L) 1,939 63,812
NN, Inc. 585 15,631
Nordson Corp. 1,531 116,463
Oshkosh Corp. 2,074 91,567
PACCAR, Inc. 8,380 476,613
Pall Corp. 2,659 222,558
Parker Hannifin Corp. 3,523 402,150
Pentair PLC 4,792 313,828
PMFG, Inc. (I)(L) 848 4,240
Proto Labs, Inc. (I)(L) 634 43,746
RBC Bearings, Inc. 550 31,185
Rexnord Corp. (I) 2,268 64,525
Snap-on, Inc. 1,364 165,153
SPX Corp. 1,059 99,472
Standex International Corp. 409 30,323
Stanley Black & Decker, Inc. 4,036 358,356
Sun Hydraulics Corp. 689 25,900
Tecumseh Products Company (I) 535 2,301
Tennant Company 492 33,008
Terex Corp. 2,704 85,906
The ExOne Company (I) 298 6,225
The Gorman-Rupp Company 672 20,187
The Greenbrier Companies, Inc. (L) 617 45,275
The LS Starrett Company, Class A 473 6,546
The Manitowoc Company, Inc. 3,212 75,321
The Toro Company 1,418 83,988
Timken Company 2,322 98,430
Titan International, Inc. (L) 1,210 14,302
TriMas Corp. (I) 1,133 27,566
Trinity Industries, Inc. 3,804 177,723
Twin Disc, Inc. 494 13,318
Valmont Industries, Inc. (L) 632 85,276
Wabash National Corp. (I) 1,922 25,601
WABCO Holdings, Inc. (I) 1,477 134,333
Wabtec Corp. 2,330 188,823
Watts Water Technologies, Inc., Class A 857 49,920
Woodward, Inc. 1,685 80,240
Xylem, Inc. 4,469 158,605
10,425,396
Marine - 0.0%
Eagle Bulk Shipping, Inc. (I) 529 485
Kirby Corp. (I) 1,313 154,737
Matson, Inc. 1,025 25,656

The accompanying notes are an integral part of the financial statements. 292


John Hancock Variable Insurance Trust

PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)


Total Stock Market Index Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Marine (continued)
Rand Logistics, Inc. (I) 557         $ 3,175
184,053
Professional services - 0.3%
Acacia Research Corp. (L) 1,195 18,499
Barrett Business Services, Inc. 202 7,977
CBIZ, Inc. (I) 1,604   12,623
CDI Corp. 578 8,393
CRA International, Inc. (I) 287 7,298
Equifax, Inc. 2,853 213,233
Exponent, Inc. 289 20,484
Franklin Covey Company (I) 557 10,912
FTI Consulting, Inc. (I) 921 32,198
Heidrick & Struggles International, Inc. 459   9,428
Hill International, Inc. (I) 1,724 6,896
Huron Consulting Group, Inc. (I) 572 34,875
ICF International, Inc. (I) 571 17,581
IHS, Inc., Class A (I) 1,598 200,054
Insperity, Inc. 655 17,908
Kelly Services, Inc., Class A 880 13,790
Kforce, Inc. 800 15,656
Korn/Ferry International (I) 1,149 28,610
ManpowerGroup, Inc. 1,845 129,335
Mastech Holdings, Inc. 296 2,990
Mistras Group, Inc. (I) 687 14,015
Navigant Consulting, Inc. (I) 1,124 15,635
Odyssey Marine Exploration, Inc. (I)(L) 2,604 2,370
On Assignment, Inc. (I) 1,216 32,650
Paylocity Holding Corp. (I)(L) 1,217 23,914
Pendrell Corp. (I) 8,578 11,495
Resources Connection, Inc. 976 13,605
Robert Half International, Inc. 3,317 162,533
RPX Corp. (I) 1,202 16,503
The Advisory Board Company (I) 886 41,279
The Corporate Executive Board Company 835 50,158
The Dun & Bradstreet Corp. 909 106,780
Towers Watson & Company, Class A 1,675 166,663
Trinet Group, Inc. (I) 1,518 39,089
TrueBlue, Inc. (I) 1,122 28,342
Verisk Analytics, Inc., Class A (I) 3,990 242,951
VSE Corp. 167 8,186
WageWorks, Inc. (I) 826 37,608
1,822,516
Road and rail - 1.0%
AMERCO 480 125,707
ArcBest Corp. 705 26,297
Avis Budget Group, Inc. (I) 2,532 138,981
Celadon Group, Inc. 717 13,946
Con-way, Inc. 1,410 66,975
CSX Corp. 24,266 777,968
Genesee & Wyoming, Inc., Class A (I) 1,289 122,855
Heartland Express, Inc. 2,321 55,611
Hertz Global Holdings, Inc. (I) 10,697 271,597
J.B. Hunt Transport Services, Inc. 2,785 206,229
Kansas City Southern 2,626 318,271
Knight Transportation, Inc. 1,874 51,329
Landstar System, Inc. 1,058 76,377
Marten Transport, Ltd. 1,173 20,891
Norfolk Southern Corp. 7,407 826,621
Old Dominion Freight Line, Inc. (I) 2,081 147,002
Patriot Transportation Holding, Inc. (I) 282 9,565
Providence and Worcester Railroad Company 251 4,390
Roadrunner Transportation Systems, Inc. (I) 1,015 23,132
Ryder Systems, Inc. 1,195 107,514
Saia, Inc. (I) 643 31,867
Swift Transportation Company (I) 3,346 70,199
Union Pacific Corp. 21,870 2,371,145
Universal Truckload Services, Inc. 735 17,824
USA Truck, Inc. (I) 383 6,714
Werner Enterprises, Inc. 1,617 40,748
YRC Worldwide, Inc. (I) 748 15,199
5,944,954
Trading companies and distributors - 0.4%
Aceto Corp. 706 13,640
Air Lease Corp. 2,442 79,365
Aircastle, Ltd. 1,918 31,378
Applied Industrial Technologies, Inc. 1,031 47,065
Beacon Roofing Supply, Inc. (I) 1,131 28,818
BlueLinx Holdings, Inc. (I) 9,462 12,395
CAI International, Inc. (I) 572 11,068
DXP Enterprises, Inc. (I) 367 27,041
Fastenal Company 7,070 317,443
GATX Corp. 1,122 65,491
H&E Equipment Services, Inc. 922 37,138
HD Supply Holdings, Inc. (I) 4,467 121,770
Houston Wire & Cable Company 638 7,643
Kaman Corp. 670 26,331
MRC Global, Inc. (I) 2,326 54,242
MSC Industrial Direct Company, Inc., Class A 1,510 129,045
NOW, Inc. (I) 2,550 77,546
Rush Enterprises, Inc., Class A (I) 968 32,380
Stock Building Supply Holdings, Inc. (I) 780 12,254
TAL International Group, Inc. (I)(L) 812 33,495
Textainer Group Holdings, Ltd. 1,298 40,394
Titan Machinery, Inc. (I) 544 7,067
United Rentals, Inc. (I) 2,261 251,197
Veritiv Corp. (I)(L) 201 10,062
W.W. Grainger, Inc. 1,640 412,706
Watsco, Inc. 810 69,806
WESCO International, Inc. (I) 1,020 79,825
2,036,605
Transportation infrastructure - 0.0%
Macquarie Infrastructure Company LLC 1,198 79,907
Wesco Aircraft Holdings, Inc. (I) 2,341 40,733
120,640
60,104,643
Information technology - 18.6%
Communications equipment - 1.5%
ADTRAN, Inc. 1,439 29,543
Arista Networks, Inc. (I)(L) 1,477 130,463
ARRIS Group, Inc. (I) 3,419 96,946
Aruba Networks, Inc. (I) 2,538 54,770
Aviat Networks, Inc. (I) 1,974 3,553
Bel Fuse, Inc., Class B 373 9,228
Black Box Corp. 458 10,681
Brocade Communications Systems, Inc. 10,370 112,722
CalAmp Corp. (I) 938 16,528
Calix, Inc. (I) 1,421 13,599
Ciena Corp. (I) 2,566 42,904
Cisco Systems, Inc. 123,589 3,110,735
Commscope Holding Company, Inc. (I) 4,579 109,484
Dialogic, Inc. (I) 241 195
Digi International, Inc. (I) 713 5,348
EchoStar Corp., Class A (I) 2,166 105,614

The accompanying notes are an integral part of the financial statements. 293


John Hancock Variable Insurance Trust

PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)


Total Stock Market Index Trust (continued)

Shares or
Principal
Amount          Value
COMMON STOCKS (continued)
Communications equipment (continued)
Emcore Corp. (I) 763 $ 4,341
Emulex Corp. (I) 2,134 10,542
Extreme Networks, Inc. (I) 2,022 9,685
F5 Networks, Inc. (I) 1,867   221,688
Finisar Corp. (I)(L) 2,207 36,702
Harmonic, Inc. (I) 2,721 17,251
Harris Corp. 2,560 169,984
Infinera Corp. (I) 2,668 28,468
InterDigital, Inc. 948   37,749
Ixia (I) 1,783 16,297
JDS Uniphase Corp. (I) 5,871 75,149
Juniper Networks, Inc. 11,838 262,212
Meru Networks, Inc. (I) 433 1,650
Motorola Solutions, Inc. 6,304 398,917
NETGEAR, Inc. (I) 889 27,781
Novatel Wireless, Inc. (I) 1,074 3,942
Numerex Corp., Class A (I) 926 9,704
Oplink Communications, Inc. 639 10,748
Palo Alto Networks, Inc. (I) 1,766 173,245
Parkervision, Inc. (I)(L) 2,235 2,548
Plantronics, Inc. 1,109 52,988
Polycom, Inc. (I) 4,160 51,106
Powerwave Technologies, Inc. (I) 912 1
Procera Networks, Inc. (I) 608 5,825
QUALCOMM, Inc. 40,737 3,045,905
Riverbed Technology, Inc. (I) 4,065 75,385
Ruckus Wireless, Inc. (I) 1,798 24,021
ShoreTel, Inc. (I) 1,320 8,778
Sonus Networks, Inc. (I) 7,104 24,296
Sycamore Networks, Inc. 773 269
Tessco Technologies, Inc. 309 8,958
Ubiquiti Networks, Inc. (I)(L) 2,142 80,389
ViaSat, Inc. (I)(L) 1,087 59,915
8,808,752
Electronic equipment, instruments and components - 0.6%
Amphenol Corp., Class A 3,778 377,271
Anixter International, Inc. 773 65,581
Arrow Electronics, Inc. (I) 2,357 130,460
Avnet, Inc. 3,210 133,215
AVX Corp. 4,025 53,452
Badger Meter, Inc. 435 21,946
Belden, Inc. 1,053 67,413
Benchmark Electronics, Inc. (I) 1,407 31,249
CDW Corp. 4,060 126,063
Checkpoint Systems, Inc. (I) 1,010 12,352
Cognex Corp. (I) 2,162 87,064
Coherent, Inc. (I) 623 38,234
Control4 Corp. (I) 676 8,741
Corning, Inc. 32,493 628,415
CTS Corp. 903 14,349
Daktronics, Inc. 1,118 13,740
Dolby Laboratories, Inc., Class A (I) 2,481 103,681
DTS, Inc. (I) 507 12,802
Echelon Corp. (I) 1,218 2,485
Electro Rent Corp. 657 9,047
Electro Scientific Industries, Inc. 1,363 9,255
eMagin Corp. (I) 820 1,927
FARO Technologies, Inc. (I) 470 23,853
FEI Company 1,012 76,325
FLIR Systems, Inc. 3,439 107,778
GSI Group, Inc. (I) 1,358 15,603
Identive Group, Inc. (I) 182 2,441
II-VI, Inc. (I) 1,532 18,032
Ingram Micro, Inc., Class A (I) 3,568 92,090
Insight Enterprises, Inc. (I) 950 21,499
InvenSense, Inc. (I)(L) 2,246 44,314
IPG Photonics Corp. (I)(L) 1,210 83,224
Itron, Inc. (I) 903 35,497
Jabil Circuit, Inc. 4,996 100,769
KEMET Corp. (I) 1,819 7,494
Knowles Corp. (I) 2,037 53,981
Littelfuse, Inc. 562 47,871
Maxwell Technologies, Inc. (I) 724 6,313
Measurement Specialties, Inc. (I) 495 42,377
Mercury Systems, Inc. (I) 1,173 12,915
Mesa Laboratories, Inc. 139 8,031
Methode Electronics, Inc. 886 32,667
MOCON, Inc. 510 7,614
MTS Systems Corp. 413 28,191
Multi-Fineline Electronix, Inc. (I) 1,048 9,799
National Instruments Corp. 3,022 93,470
Netlist, Inc. (I) 5,918 7,042
Newport Corp. (I) 1,042 18,464
OSI Systems, Inc. (I) 477 30,280
Park Electrochemical Corp. 597 14,059
PC Connection, Inc. 675 14,492
Plexus Corp. (I) 830 30,652
Pulse Electronics Corp. (I) 137 185
Radisys Corp. (I) 794 2,120
RealD, Inc. (I) 1,198 11,225
Richardson Electronics, Ltd. 668 6,673
Rofin-Sinar Technologies, Inc. (I) 720 16,603
Rogers Corp. (I) 481 26,340
Sanmina Corp. (I) 2,020 42,137
ScanSource, Inc. (I) 664 22,968
Speed Commerce, Inc. (I) 2,527 6,949
SYNNEX Corp. (I) 897 57,973
Tech Data Corp. (I) 895 52,680
Trimble Navigation, Ltd. (I) 6,185 188,643
TTM Technologies, Inc. (I) 1,990 13,552
Universal Display Corp. (I)(L) 1,115 36,394
Viasystems Group, Inc. (I) 571 8,965
Vishay Intertechnology, Inc. 3,586 51,244
Zebra Technologies Corp., Class A (I) 1,187 84,241
3,664,771
Internet software and services - 3.7%
Akamai Technologies, Inc. (I) 4,229 252,894
Angie’s List, Inc. (I)(L) 1,342 8,549
AOL, Inc. (I) 1,892 85,045
Bankrate, Inc. (I) 2,362 26,832
Bazaarvoice, Inc. (I)(L) 1,789 13,221
Benefitfocus, Inc. (I)(L) 572 15,410
Blucora, Inc. (I) 902 13,746
Brightcove, Inc. (I) 656 3,660
BroadVision, Inc. (I) 124 1,097
Carbonite, Inc. (I) 665 6,810
Care.com, Inc. (I) 1,124 9,161
ChannelAdvisor Corp. (I)(L) 778 12,759
comScore, Inc. (I) 1,002 36,483
Constant Contact, Inc. (I) 855 23,205
Conversant, Inc. (I) 1,811 62,027
Cornerstone OnDemand, Inc. (I) 1,341 46,144
CoStar Group, Inc. (I) 685 106,545
Cvent, Inc. (I)(L) 1,002 25,421
Dealertrack Technologies, Inc. (I) 1,058 45,928

The accompanying notes are an integral part of the financial statements. 294


John Hancock Variable Insurance Trust

PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)


Total Stock Market Index Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Internet software and services (continued)
Demand Media, Inc. (I) 359         $ 3,177
Demandware, Inc. (I) 849 43,231
Digital River, Inc. (I) 987 14,331
E2open, Inc. (I) 598 5,567
Earthlink Holdings Corp. 4,067 13,909
eBay, Inc. (I) 30,899 1,749,810
Endurance International
       Group Holdings, Inc. (I)(L) 3,078 50,079
Envestnet, Inc. (I) 867 39,015
Equinix, Inc. (I) 1,187 252,214
Everyday Health, Inc. (I)(L) 874 12,210
Facebook, Inc., Class A (I) 61,665 4,874,002
Global Eagle Entertainment, Inc. (I) 1,359   15,248
Gogo, Inc. (I)(L) 2,099 35,389
Google, Inc., Class C (I) 16,180 9,341,685
GrubHub, Inc. (I)(L) 1,902 65,124
InterActiveCorp 1,943 128,044
Internap Network Services Corp. (I) 1,629 11,240
IntraLinks Holdings, Inc. (I) 1,586 12,847
j2 Global, Inc. (L) 1,122 55,382
Limelight Networks, Inc. (I) 2,442 5,702
LinkedIn Corp., Class A (I) 2,901 602,799
Liquidity Services, Inc. (I) 719 9,886
LivePerson, Inc. (I) 1,346 16,946
LogMeIn, Inc. (I) 689   31,742
Marchex, Inc., Class B 1,000 4,150
Marin Software, Inc. (I)(L) 1,343 11,550
Marketo, Inc. (I)(L) 865 27,940
MeetMe, Inc. (I) 3,362 6,623
Millennial Media, Inc. (I)(L) 2,668 4,962
Monster Worldwide, Inc. (I) 2,708 14,894
Move, Inc. (I) 1,071 22,448
NIC, Inc. 1,581 27,225
OPOWER, Inc. (I)(L) 1,357 25,593
Pandora Media, Inc. (I) 4,725 114,156
Perficient, Inc. (I) 697 10,448
QuinStreet, Inc. (I) 930 3,860
Rackspace Hosting, Inc. (I) 3,378 109,954
RealNetworks, Inc. (I) 977 6,790
Rightside Group, Ltd. (I) 359 3,500
Rocket Fuel, Inc. (I)(L) 829 13,098
SciQuest, Inc. (I) 622 9,355
Shutterstock, Inc. (I)(L) 835 59,602
Spark Networks, Inc. (I) 1,807 8,384
SPS Commerce, Inc. (I) 348 18,496
Stamps.com, Inc. (I) 343 10,894
support.com, Inc. (I) 1,791 3,869
Synacor, Inc. (I) 3,046 5,818
TechTarget, Inc. (I) 764 6,563
Textura Corp. (I)(L) 513 13,543
Travelzoo, Inc. (I) 401 6,216
TrueCar, Inc. (I)(L) 1,810 32,490
Trulia, Inc. (I)(L) 930 45,477
Twitter, Inc. (I) 13,056 673,428
United Online, Inc. 328 3,592
Unwired Planet, Inc. (I) 2,609 4,853
VeriSign, Inc. (I) 3,381 186,361
Web.com Group, Inc. (I) 1,291 25,768
WebMD Health Corp. (I)(L) 946 39,552
Xoom Corp. (I) 734 16,111
Yahoo!, Inc. (I) 24,218 986,884
Yelp, Inc. (I)(L) 1,770 120,803
Zillow, Inc., Class A (I)(L) 979 113,554
20,983,320
IT services - 3.1%
Acxiom Corp. (I) 1,763 29,178
Alliance Data Systems Corp. (I) 1,221 303,138
Automatic Data Processing, Inc. 11,521 957,165
Blackhawk Network Holdings, Inc. (I)(L) 1,244 40,306
Booz Allen Hamilton Holding Corp. 3,410 79,794
Broadridge Financial Solutions, Inc. 2,909 121,102
CACI International, Inc., Class A (I) 532 37,916
Cardtronics, Inc. (I) 1,085 38,192
Cass Information Systems, Inc. 337 13,952
CIBER, Inc. (I) 2,045 7,014
Cognizant Technology
       Solutions Corp., Class A (I) 14,454 647,106
Computer Sciences Corp. 3,551 217,144
Computer Task Group, Inc. 577 6,405
Convergys Corp. 2,403 42,821
CoreLogic, Inc. (I) 2,317 62,721
CSG Systems International, Inc. 918 24,125
DST Systems, Inc. 1,033 86,689
EPAM Systems, Inc. (I) 1,164 50,972
Euronet Worldwide, Inc. (I) 1,168 55,819
ExlService Holdings, Inc. (I) 766 18,698
Fidelity National Information Services, Inc. 6,911 389,089
Fiserv, Inc. (I) 6,160 398,152
FleetCor Technologies, Inc. (I) 1,966 279,408
Forrester Research, Inc. 566 20,863
Gartner, Inc. (I) 2,204 161,928
Genpact, Ltd. (I) 5,610 91,555
Global Cash Access Holdings, Inc. (I) 2,025 13,669
Global Payments, Inc. 1,823 127,391
Heartland Payment Systems, Inc. 844 40,276
Higher One Holdings, Inc. (I) 1,420 3,507
iGATE Corp. (I) 1,475 54,162
Innodata, Inc. (I) 808 2,464
International Business Machines Corp. 24,443 4,640,015
Jack Henry & Associates, Inc. 2,031 113,045
Leidos Holdings, Inc. 1,988 68,248
Lionbridge Technologies, Inc. (I) 1,904 8,568
ManTech International Corp., Class A 903 24,336
MasterCard, Inc., Class A 28,352 2,095,780
Mattersight Corp. (I) 1,020 5,518
MAXIMUS, Inc. 1,660 66,616
ModusLink Global Solutions, Inc. (I) 2,255 8,050
MoneyGram International, Inc. (I) 1,413 17,719
NCI, Inc., Class A (I) 381 3,623
NeuStar, Inc., Class A (I)(L) 1,565 38,859
Newtek Business Services, Inc. (I) 1,992 5,478
Paychex, Inc. 8,667 383,081
PRGX Global, Inc. (I) 959 5,620
Sabre Corp. 6,115 109,550
Sapient Corp. (I) 3,338 46,732
Science Applications International Corp. 1,136 50,245
ServiceSource International, Inc. (I) 1,729 5,585
Sykes Enterprises, Inc. (I) 1,261 25,195
Syntel, Inc. (I) 1,000 87,940
TeleTech Holdings, Inc. (I) 1,287 31,634
Teradata Corp. (I) 3,873 162,356
The Western Union Company 13,129 210,589
Total System Services, Inc. 4,487 138,918
Unisys Corp. (I) 1,059 24,791
Vantiv, Inc., Class A (I) 4,637 143,283

The accompanying notes are an integral part of the financial statements. 295


John Hancock Variable Insurance Trust

PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)


Total Stock Market Index Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)  
IT services (continued)
VeriFone Systems, Inc. (I) 2,675         $ 91,967
Virtusa Corp. (I) 733 26,065
Visa, Inc., Class A 18,618 3,972,523
WEX, Inc. (I) 916   101,053
Xerox Corp. 29,055 384,398
17,520,101
Semiconductors and semiconductor equipment - 2.3%
Advanced Energy Industries, Inc. (I) 919 17,268
Advanced Micro Devices, Inc. (I)(L) 17,816 60,753
Alpha & Omega Semiconductor, Ltd. (I) 721 6,777
Altera Corp. 7,671 274,468
Ambarella, Inc. (I)(L) 697 30,438
Amkor Technology, Inc. (I) 5,636 47,399
Amtech Systems, Inc. (I) 892 9,544
Analog Devices, Inc. 7,343   363,405
Applied Materials, Inc. 28,783 622,001
Applied Micro Circuits Corp. (I) 1,860 13,020
Atmel Corp. (I) 9,935 80,275
Audience, Inc. (I) 394 2,916
AXT, Inc. (I) 645 1,574
Broadcom Corp., Class A 13,823 558,726
Brooks Automation, Inc. 1,693 17,793
Cabot Microelectronics Corp. (I) 546 22,632
Cavium, Inc. (I) 1,306 64,947
CEVA, Inc. (I) 574 7,715
Cirrus Logic, Inc. (I) 1,542 32,151
Cohu, Inc. 836 10,007
Cree, Inc. (I)(L) 2,898 118,673
CVD Equipment Corp. (I) 955 12,358
Cypress Semiconductor Corp. (I)(L) 3,833 37,851
Diodes, Inc. (I) 1,139 27,245
Entegris, Inc. (I) 3,313 38,100
Entropic Communications, Inc. (I) 4,567 12,148
Exar Corp. (I) 1,365 12,217
Fairchild Semiconductor International, Inc. (I) 3,070 47,677
First Solar, Inc. (I) 2,345 154,324
FormFactor, Inc. (I) 1,372 9,837
Freescale Semiconductor, Ltd. (I)(L) 7,301 142,589
GSI Technology, Inc. (I) 900 4,869
GT Advanced Technologies, Inc. (I)(L) 3,563 38,587
Inphi Corp. (I) 755 10,857
Integrated Device Technology, Inc. (I) 3,718 59,302
Integrated Silicon Solution, Inc. 890 12,229
Intel Corp. 119,156 4,149,012
Intermolecular, Inc. (I) 1,145 2,656
International Rectifier Corp. (I) 1,650 64,746
Intersil Corp., Class A 3,066 43,568
IXYS Corp. 839 8,810
KLA-Tencor Corp. 3,912 308,187
Kopin Corp. (I) 2,337 7,946
Kulicke & Soffa Industries, Inc. (I) 1,781 25,344
Lam Research Corp. 3,884 290,135
Lattice Semiconductor Corp. (I) 2,974 22,305
Linear Technology Corp. 5,513 244,722
M/A-COM Technology
       Solutions Holdings, Inc. (I) 1,159 25,313
Marvell Technology Group, Ltd. 11,656 157,123
Mattson Technology, Inc. (I) 1,856 4,584
Maxim Integrated Products, Inc. 6,649 201,066
MaxLinear, Inc., Class A (I) 1,309 9,006
Micrel, Inc. 1,723 20,728
Microchip Technology, Inc. (L) 4,639 219,100
Micron Technology, Inc. (I) 25,704 880,619
Microsemi Corp. (I) 2,319 58,926
MKS Instruments, Inc. 1,286 42,927
Monolithic Power Systems, Inc. 895 39,425
MoSys, Inc. (I) 2,444 5,914
Nanometrics, Inc. (I) 623 9,407
NVIDIA Corp. 13,756 253,798
OmniVision Technologies, Inc. (I) 1,411 37,335
ON Semiconductor Corp. (I) 10,601 94,773
PDF Solutions, Inc. (I) 882 11,122
Photronics, Inc. (I) 1,479 11,906
PMC-Sierra, Inc. (I) 5,216 38,911
Power Integrations, Inc. 714 38,492
QuickLogic Corp. (I)(L) 3,344 9,999
Rambus, Inc. (I) 2,670 33,322
RF Micro Devices, Inc. (I) 6,722 77,572
Rubicon Technology, Inc. (I) 1,441 6,124
Rudolph Technologies, Inc. (I) 944 8,543
Semtech Corp. (I) 1,537 41,730
Silicon Image, Inc. (I) 2,196 11,068
Silicon Laboratories, Inc. (I) 1,002 40,721
Skyworks Solutions, Inc. 4,403 255,594
Spansion, Inc., Class A (I) 1,657 37,763
STR Holdings, Inc. (I) 1,220 1,769
SunEdison, Inc. (I) 6,713 126,741
SunPower Corp. (I)(L) 3,188 108,009
Synaptics, Inc. (I) 852 62,366
Teradyne, Inc. 4,605 89,291
Tessera Technologies, Inc. 1,532 40,721
Texas Instruments, Inc. 26,239 1,251,338
Transwitch Corp. (I) 1,304 5
TriQuint Semiconductor, Inc. (I) 4,009 76,452
Ultra Clean Holdings, Inc. (I) 774 6,927
Ultratech, Inc. (I) 647 14,719
Veeco Instruments, Inc. (I) 883 30,861
Xcerra Corp. (I) 1,415 13,853
Xilinx, Inc. 6,411 271,506
12,927,572
Software - 4.0%
A10 Networks, Inc. (I) 1,613 14,694
ACI Worldwide, Inc. (I) 2,907 54,535
Activision Blizzard, Inc. 16,474 342,494
Actuate Corp. (I) 1,416 5,522
Adobe Systems, Inc. (I) 11,948 826,682
Advent Software, Inc. 1,318 41,596
American Software, Inc., Class A 945 8,335
ANSYS, Inc. (I) 2,187 165,490
Aspen Technology, Inc. (I) 2,229 84,078
Autodesk, Inc. (I) 5,343 294,399
Blackbaud, Inc. 1,183 46,480
Bottomline Technologies, Inc. (I) 911 25,134
BroadSoft, Inc. (I) 685 14,412
CA, Inc. 10,821 302,339
Cadence Design Systems, Inc. (I) 6,903 118,801
Callidus Software, Inc. (I) 1,069 12,849
Citrix Systems, Inc. (I) 4,293 306,263
CommVault Systems, Inc. (I) 1,078 54,331
Compuware Corp. 5,237 55,565
Comverse, Inc. (I) 666 14,872
Concur Technologies, Inc. (I) 1,319 167,276
Cyan, Inc. (I) 1,096 3,420
Document Security Systems, Inc. (I) 1,772 1,506
Ebix, Inc. (L) 840 11,911
Electronic Arts, Inc. (I) 7,374 262,588

The accompanying notes are an integral part of the financial statements. 296


John Hancock Variable Insurance Trust

PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)


Total Stock Market Index Trust (continued)

Shares or
Principal
Amount         Value
COMMON STOCKS (continued)
Software (continued)
Ellie Mae, Inc. (I) 692 $ 22,559
EnerNOC, Inc. (I) 701 11,889
Envivio, Inc. (I) 4,311   7,932
Epiq Systems, Inc. 1,028 18,052
ePlus, Inc. (I) 259 14,517
FactSet Research Systems, Inc. (L) 1,007 122,381
Fair Isaac Corp. 860 47,386
FalconStor Software, Inc. (I) 1,749 2,011
FireEye, Inc. (I)(L) 2,871 87,738
FleetMatics Group PLC (I)(L) 779 23,760
Fortinet, Inc. (I) 3,889 98,256
Gigamon, Inc. (I)(L) 777 8,135
Glu Mobile, Inc. (I)(L) 2,758 14,259
Guidance Software, Inc. (I) 867 5,835
Guidewire Software, Inc. (I) 1,611   71,432
Imperva, Inc. (I)(L) 657 18,876
Infoblox, Inc. (I) 1,217 17,951
Informatica Corp. (I) 2,520 86,285
Interactive Intelligence Group, Inc. (I) 490 20,482
Intuit, Inc. 6,994 613,024
Jive Software, Inc. (I) 1,690 9,853
Kofax Ltd. (I)(L) 2,350 18,189
Majesco Entertainment Company (I) 212 225
Manhattan Associates, Inc. (I) 1,836 61,359
Mentor Graphics Corp. 2,655 54,414
Microsoft Corp. 199,352 9,241,959
MicroStrategy, Inc., Class A (I) 263 34,411
Mitek Systems, Inc. (I)(L) 1,254 3,022
Model N, Inc. (I) 495 4,881
Monotype Imaging Holdings, Inc. 1,027 29,085
NetScout Systems, Inc. (I) 949 43,464
NetSuite, Inc. (I)(L) 1,775 158,934
Nuance Communications, Inc. (I) 7,373 113,655
Oracle Corp. 107,849 4,128,460
Pegasystems, Inc. 1,800 34,398
Progress Software Corp. (I) 1,317 31,489
Proofpoint, Inc. (I) 933 34,652
PROS Holdings, Inc. (I) 740 18,648
PTC, Inc. (I) 2,805 103,505
Qlik Technologies, Inc. (I) 2,225 60,164
Qualys, Inc. (I) 930 24,738
Rally Software Development Corp. (I) 544 6,533
RealPage, Inc. (I)(L) 1,749 27,110
Red Hat, Inc. (I) 4,552 255,595
Rosetta Stone, Inc. (I) 599 4,822
Rovi Corp. (I) 2,521 49,777
Salesforce.com, Inc. (I) 14,643 842,412
Seachange International, Inc. (I) 1,026 7,141
ServiceNow, Inc. (I) 3,453 202,967
Silver Spring Networks, Inc. (I)(L) 1,081 10,432
Smith Micro Software, Inc. (I) 1,763 1,570
SolarWinds, Inc. (I) 1,882 79,138
Solera Holdings, Inc. 1,671 94,178
Splunk, Inc. (I) 2,860 158,330
SS&C Technologies Holdings, Inc. (I) 2,028 89,009
Symantec Corp. 16,581 389,819
Synchronoss Technologies, Inc. (I) 1,046 47,886
Synopsys, Inc. (I) 3,607 143,180
Tableau Software, Inc., Class A (I) 1,641 119,219
Take-Two Interactive Software, Inc. (I) 2,282 52,646
Tangoe, Inc. (I) 807 10,935
TeleCommunication Systems, Inc., Class A (I) 1,207 3,368
The Ultimate Software Group, Inc. (I) 671 94,953
THQ, Inc. (I) 234 5
TIBCO Software, Inc. (I) 3,948 93,291
TiVo, Inc. (I) 2,924 37,413
Tyler Technologies, Inc. (I) 761 67,272
Varonis Systems, Inc. (I)(L) 654 13,799
VASCO Data Security International, Inc. (I) 1,062 19,944
Verint Systems, Inc. (I) 1,301 72,349
VirnetX Holding Corp. (I) 1,232 7,392
VMware, Inc., Class A (I)(L) 10,288 965,426
Wave Systems Corp., Class A (I) 4,572 4,892
Workday, Inc., Class A (I)(L) 3,835 316,388
Zendesk, Inc. (I) 1,828 39,467
Zynga, Inc., Class A (I) 21,526 58,120
23,144,615
Technology hardware, storage and peripherals - 3.4%
3D Systems Corp. (I)(L) 2,618 121,397
Apple, Inc. 145,127 14,621,545
Avid Technology, Inc. (I) 1,037 10,474
Cray, Inc. (I)(L) 1,015 26,634
Diebold, Inc. 1,694 59,832
Dot Hill Systems Corp. (I) 2,398 9,064
Electronics For Imaging, Inc. (I) 1,141 50,398
EMC Corp. 49,384 1,444,976
Hewlett-Packard Company 45,380 1,609,629
Imation Corp. (I) 1,203 3,549
Immersion Corp. (I) 986 8,460
Lexmark International, Inc., Class A 1,463 62,178
NCR Corp. (I) 3,948 131,903
NetApp, Inc. 8,177 351,284
Nimble Storage, Inc. (I) 1,667 43,292
OCZ Technology Group, Inc. (I) 1,924 0
QLogic Corp. (I) 2,269 20,784
Quantum Corp. (I) 5,832 6,765
Qumu Corp. (I) 348 4,524
SanDisk Corp. 5,444 533,240
Silicon Graphics International Corp. (I) 836 7,716
Super Micro Computer, Inc. (I) 1,005 29,567
Transact Technologies, Inc. 494 3,330
Western Digital Corp. 5,668 551,610
19,712,151
106,761,282
Materials - 3.6%
Chemicals - 2.3%
A. Schulman, Inc. 713 25,782
Advanced Emissions Solutions, Inc. (I) 476 10,125
Air Products & Chemicals, Inc. 5,033 655,196
Airgas, Inc. 1,763 195,076
Albemarle Corp. (L) 1,919 113,029
American Vanguard Corp. 743 8,322
Ashland, Inc. 1,853 192,897
Axiall Corp. 1,627 58,263
Balchem Corp. 725 41,013
Cabot Corp. 1,475 74,886
Calgon Carbon Corp. (I) 1,429 27,694
Celanese Corp., Series A 3,805 222,669
CF Industries Holdings, Inc. 1,296 361,869
Chase Corp. 349 10,861
Chemtura Corp. (I) 2,384 55,619
Codexis, Inc. (I) 682 1,589
Cytec Industries, Inc. 1,732 81,906
E.I. du Pont de Nemours & Company 22,155 1,589,843

The accompanying notes are an integral part of the financial statements. 297


John Hancock Variable Insurance Trust

PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)


Total Stock Market Index Trust (continued)

Shares or
Principal
Amount         Value
COMMON STOCKS (continued)
Chemicals (continued)
Eastman Chemical Company 3,661 $ 296,138
Ecolab, Inc. 7,207 827,580
Ferro Corp. (I) 2,227 32,269
Flotek Industries, Inc. (I) 1,385 36,107
FMC Corp. 3,213 183,751
FutureFuel Corp. 1,202 14,292
Hawkins, Inc. 312 11,220
HB Fuller Company 1,198 47,561
Huntsman Corp. 5,713   148,481
Innophos Holdings, Inc. 533   29,363
Innospec, Inc. 621 22,294
International Flavors & Fragrances, Inc. 1,930 185,048
Intrepid Potash, Inc. (I)(L) 1,827 28,227
KMG Chemicals, Inc. 436 7,098
Koppers Holdings, Inc. 493 16,348
Kraton Performance Polymers, Inc. (I) 778 13,856
Kronos Worldwide, Inc. 2,710 37,344
Landec Corp. (I) 774 9,482
LSB Industries, Inc. (I) 541 19,319
Metabolix, Inc. (I) 824 750
Minerals Technologies, Inc. 820 50,602
Monsanto Company 12,621 1,419,989
NewMarket Corp. 309 117,735
OCI Partners LP 2,042 43,862
Olin Corp. 1,916 48,379
OM Group, Inc. 761 19,748
OMNOVA Solutions, Inc. (I) 1,304 7,002
Penford Corp. (I) 473 6,229
PolyOne Corp. 2,353 83,720
PPG Industries, Inc. 3,376 664,194
Praxair, Inc. 7,017 905,193
Prospect Global Resources, Inc. (I) 53 15
Quaker Chemical Corp. 343 24,590
Rayonier Advanced Materials, Inc. (L) 994 32,713
Rentech Nitrogen Partners LP 1,086 13,510
Rentech, Inc. (I) 8,006 13,690
Rockwood Holdings, Inc. 1,807 138,145
RPM International, Inc. 3,162 144,756
Senomyx, Inc. (I) 1,262 10,348
Sensient Technologies Corp. 1,240 64,914
Sigma-Aldrich Corp. 2,846 387,084
Stepan Company 506 22,456
Taminco Corp. (I) 1,526 39,829
Terra Nitrogen Company LP 460 66,424
The Dow Chemical Company 29,050 1,523,382
The Mosaic Company 9,317 413,768
The Scotts Miracle-Gro Company, Class A 1,434 78,870
The Sherwin-Williams Company 2,430 532,146
Trecora Resources (I) 686 8,493
Tredegar Corp. 888 16,348
Valhi, Inc. (L) 7,686 50,190
Valspar Corp. 2,052 162,087
W.R. Grace & Company (I) 1,828 166,238
Westlake Chemical Corp. 3,198 276,915
Zep, Inc. 592 8,300
13,255,031
Construction materials - 0.1%
Eagle Materials, Inc. 1,200 122,196
Headwaters, Inc. (I) 2,170 27,212
Martin Marietta Materials, Inc. 1,562 201,404
United States Lime & Minerals, Inc. 212 12,324
Vulcan Materials Company 3,128 188,399
551,535
Containers and packaging - 0.3%
AEP Industries, Inc. (I) 171 6,476
AptarGroup, Inc. 1,558 94,571
Avery Dennison Corp. 2,321 103,633
Ball Corp. 3,323 210,246
Bemis Company, Inc. 2,394 91,020
Berry Plastics Group, Inc. (I) 2,678 67,593
Crown Holdings, Inc. (I) 3,205 142,687
Graphic Packaging Holding Company (I) 8,484 105,456
Greif, Inc., Class A 1,126 49,330
MeadWestvaco Corp. 4,191 171,580
Myers Industries, Inc. 984 17,358
Owens-Illinois, Inc. (I) 3,934 102,481
Packaging Corp. of America 2,346 149,722
Rock-Tenn Company, Class A 3,420 162,724
Sealed Air Corp. 4,745 165,506
Silgan Holdings, Inc. 1,489 69,983
Sonoco Products Company 2,324 91,310
UFP Technologies, Inc. (I) 312 6,858
1,808,534
Metals and mining - 0.7%
AK Steel Holding Corp. (I)(L) 3,165 25,352
Alcoa, Inc. 26,766 430,665
Allegheny Technologies, Inc. 2,513 93,232
Allied Nevada Gold Corp. (I) 1,954 6,468
AM Castle & Company (I) 676 5,773
Ampco-Pittsburgh Corp. 317 6,340
Carpenter Technology Corp. 1,236 55,805
Century Aluminum Company (I) 2,202 57,186
Cliffs Natural Resources, Inc. (L) 3,602 37,389
Coeur Mining, Inc. (I) 2,424 12,023
Commercial Metals Company 2,880 49,162
Compass Minerals International, Inc. 779 65,654
Freeport-McMoRan Copper & Gold, Inc. 24,894 812,789
General Moly, Inc. (I) 2,672 1,991
Globe Specialty Metals, Inc. 1,837 33,415
Golden Minerals Company (I) 848 543
Haynes International, Inc. 336 15,453
Hecla Mining Company 9,520 23,610
Hi-Crush Partners LP 781 40,268
Horsehead Holding Corp. (I) 1,401 23,159
Kaiser Aluminum Corp. 484 36,890
Materion Corp. 519 15,918
Midway Gold Corp. (I) 3,078 3,201
Molycorp, Inc. (I)(L) 6,266 7,457
Newmont Mining Corp. 11,727 270,307
Noranda Aluminum Holding Corp. 1,665 7,526
Nucor Corp. 7,592 412,094
OCI Resources LP 700 15,967
Olympic Steel, Inc. 370 7,611
Paramount Gold and Silver Corp. (I)(L) 4,437 3,993
Reliance Steel & Aluminum Company 1,791 122,504
Royal Gold, Inc. 1,516 98,449
RTI International Metals, Inc. (I) 816 20,123
Schnitzer Steel Industries, Inc., Class A 687 16,522
Solitario Exploration & Royalty Corp. (I) 2,030 2,436
Southern Copper Corp. 20,082 595,431
Steel Dynamics, Inc. 5,347 120,896
Stillwater Mining Company (I)(L) 2,775 41,708
SunCoke Energy Partners LP 506 14,892

The accompanying notes are an integral part of the financial statements. 298


John Hancock Variable Insurance Trust

PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)


Total Stock Market Index Trust (continued)

Shares or
Principal
Amount         Value
COMMON STOCKS (continued)
Metals and mining (continued)
SunCoke Energy, Inc. (I) 1,802 $ 40,455
Synalloy Corp. 473 8,230
Tahoe Resources, Inc. (I) 3,348 67,964
Timkensteel Corp. 1,161 53,975
United States Steel Corp. (L) 3,560 139,445
Universal Stainless & Alloy Products, Inc. (I) 230 6,063
US Antimony Corp. (I) 2,052 2,606
Vista Gold Corp. (I) 3,085 1,265
Walter Energy, Inc. 1,471 3,442
Worthington Industries, Inc. 1,600 59,552
3,993,199
Paper and forest products - 0.2%
Boise Cascade Company (I) 927 27,940
Clearwater Paper Corp. (I) 576 34,623
Deltic Timber Corp. 331 20,628
Domtar Corp. 1,574 55,295
International Paper Company 10,551 503,705
KapStone Paper and Packaging Corp. (I) 2,388 66,792
Louisiana-Pacific Corp. (I)(L) 3,252 44,195
Neenah Paper, Inc. 450 24,066
PH Glatfelter Company 1,142 25,067
Schweitzer-Mauduit International, Inc. 763 31,520
Verso Paper Corp. (I)(L) 1,827 5,846
Wausau Paper Corp. 1,441 11,427
851,104
20,459,403
Telecommunication services - 2.2%
Diversified telecommunication services - 1.9%
8x8, Inc. (I) 2,375 15,865
Alaska Communications
       Systems Group, Inc. (I) 1,419 2,228
AT&T, Inc. 125,841 4,434,637
Atlantic Tele-Network, Inc. 401 21,614
CenturyLink, Inc. 14,173 579,534
Cincinnati Bell, Inc. (I) 4,894 16,493
Cogent Communications Group, Inc. 1,163 39,088
Consolidated
       Communications Holdings, Inc. (L) 1,056 26,453
FairPoint Communications, Inc. (I) 1,044 15,837
Frontier Communications Corp. (L) 23,827 155,114
General Communication, Inc., Class A (I) 950 10,365
Globalstar, Inc. (I)(L) 16,618 60,822
IDT Corp., Class B 605 9,716
inContact, Inc. (I) 1,358 11,808
Inteliquent, Inc. 876 10,906
Iridium Communications, Inc. (I)(L) 1,659 14,682
Level 3 Communications, Inc. (I) 5,504 251,698
Lumos Networks Corp. 555 9,019
Premiere Global Services, Inc. (I) 1,491 17,847
Straight Path
       Communications, Inc., Class B (I) 302 4,757
Towerstream Corp. (I) 2,254 3,336
tw telecom, Inc. (I) 3,403 141,599
Verizon Communications, Inc. 99,209 4,959,458
Vonage Holdings Corp. (I) 4,929 16,167
Windstream Holdings, Inc. (L) 14,406 155,297
10,984,340
Wireless telecommunication services - 0.3%
Boingo Wireless, Inc. (I) 1,153 8,221
Leap Wireless International, Inc. (I) 2,036 5,131
NII Holdings, Inc. (I) 4,011 221
NTELOS Holdings Corp. 555 5,905
RingCentral, Inc., Class A (I) 1,728 21,963
SBA Communications Corp., Class A (I) 3,045 337,691
Shenandoah Telecommunications Company 652 16,176
Spok Holdings, Inc. 574 7,468
Sprint Corp. (I)(L) 72,521 459,783
T-Mobile US, Inc. (I) 19,301 557,220
Telephone & Data Systems, Inc. 2,523 60,451
United States Cellular Corp. (I) 2,040 72,379
1,552,609
12,536,949
Utilities - 2.8%
Electric utilities - 1.4%
ALLETE, Inc. 1,049 46,565
American Electric Power Company, Inc. 11,656 608,560
Cleco Corp. 1,529 73,621
Duke Energy Corp. 16,951 1,267,426
Edison International 7,714 431,367
El Paso Electric Company 1,103 40,315
Entergy Corp. 4,209 325,482
Exelon Corp. 20,450 697,141
FirstEnergy Corp. 9,966 334,559
Great Plains Energy, Inc. 3,613 87,326
Hawaiian Electric Industries, Inc. (L) 2,581 68,526
IDACORP, Inc. 1,281 68,674
ITC Holdings Corp. 3,888 138,529
MGE Energy, Inc. 946 35,248
NextEra Energy, Inc. 10,432 979,356
Northeast Utilities 7,468 330,832
NRG Yield, Inc., Class A (L) 1,754 82,526
OGE Energy Corp. 4,841 179,650
Pepco Holdings, Inc. 5,969 159,730
Pinnacle West Capital Corp. 2,644 144,468
PNM Resources, Inc. 1,941 48,350
Portland General Electric Company 1,931 62,024
PPL Corp. 15,092 495,621
The Empire District Electric Company 1,384 33,424
The Southern Company 21,139 922,717
UIL Holdings Corp. 1,427 50,516
Unitil Corp. 738 22,944
Westar Energy, Inc. 3,098 105,704
Xcel Energy, Inc. 11,892 361,517
  8,202,718
Gas utilities - 0.2%
AGL Resources, Inc. 2,701 138,669
AmeriGas Partners LP 2,277 103,877
Atmos Energy Corp. 2,121 101,172
Delta Natural Gas Company, Inc. 484 9,569
Ferrellgas Partners LP 2,182 58,630
Gas Natural, Inc. 653 7,712
National Fuel Gas Company 1,972 138,020
New Jersey Resources Corp. 982 49,601
Northwest Natural Gas Company 595 25,139
ONE Gas, Inc. 1,229   42,093
Piedmont Natural Gas Company, Inc. (L) 1,684 56,465
Questar Corp. 4,171 92,972
South Jersey Industries, Inc. 786 41,941
Southwest Gas Corp. 1,053 51,155
Star Gas Partners LP 2,049 11,700
Suburban Propane Partners LP 1,355 60,365
The Laclede Group, Inc. 737 34,197

The accompanying notes are an integral part of the financial statements. 299


John Hancock Variable Insurance Trust

PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)


Total Stock Market Index Trust (continued)

Shares or
Principal
Amount         Value
COMMON STOCKS (continued)
Gas utilities (continued)
UGI Corp. 4,009 $ 136,667
WGL Holdings, Inc. 1,161 48,901
1,208,845
Independent power and renewable electricity producers - 0.2%
AES Corp. 17,590 249,426
Atlantic Power Corp. (L) 2,517 5,990
Calpine Corp. (I) 10,455 226,874
NRG Energy, Inc. 7,974 243,048
Ormat Technologies, Inc. 1,274 33,468
758,806
Multi-utilities - 0.9%  
Alliant Energy Corp. 2,685 148,776
Ameren Corp. 5,737 219,899
Avista Corp. 1,574 48,054
Black Hills Corp. 1,152 55,158
CenterPoint Energy, Inc. 10,226 250,230
CMS Energy Corp. 6,393 189,616
Consolidated Edison, Inc. 6,940 393,220
Dominion Resources, Inc. 13,932 962,562
DTE Energy Company 4,179 317,938
Integrys Energy Group, Inc. 1,826 118,361
MDU Resources Group, Inc. 4,469 124,283
NiSource, Inc. 7,353 301,326
NorthWestern Corp. 970 43,999
PG&E Corp. 10,693 481,613
Public Service Enterprise Group, Inc. 11,975 445,949
SCANA Corp. 3,306 164,011
Sempra Energy 5,835 614,892
TECO Energy, Inc. 5,130 89,159
Vectren Corp. 1,933 77,127
Wisconsin Energy Corp. 5,386 231,598
5,277,771
Water utilities - 0.1%
American States Water Company 1,023 31,120
American Water Works Company, Inc. 4,253 205,122
Aqua America, Inc. 4,219 99,273
California Water Service Group 1,338 30,025  
Connecticut Water Service, Inc. 386 12,545
Middlesex Water Company 892 17,483
SJW Corp. 822 22,087
York Water Company 973 19,460
437,115
15,885,255
TOTAL COMMON STOCKS (Cost $338,967,794) $ 569,706,955
 
CORPORATE BONDS - 0.0%
Financials - 0.0%
GAMCO Investors, Inc.  
       8.187%, 12/31/2015 (Z) $ 2,800 $ 2,664
TOTAL CORPORATE BONDS (Cost $2,509) $ 2,664
 
RIGHTS - 0.0%
Fresenius Kabi Pharmaceuticals Holding, Inc.
       (Expiration Date: 06/11/2030; Strike
       Price: $0.02) (I) 4,291 0
TOTAL RIGHTS (Cost $4,291) $ 0
 
WARRANTS - 0.0%
Genco Shipping & Trading Ltd. (Expiration
       Date: 07/09/2021; Strike Price: $0.00) (I) 84 491
Magnum Hunter Resources Corp. (Expiration
       Date: 04/15/2016; Srtike Price: $8.50) (I)(L) 420 265
TOTAL WARRANTS (Cost $18,808) $ 756
 
SECURITIES LENDING COLLATERAL - 2.6%
John Hancock Collateral
       Investment Trust, 0.1178% (W)(Y) 1,507,826 15,088,970
TOTAL SECURITIES LENDING
COLLATERAL (Cost $15,089,073) $ 15,088,970
 
SHORT-TERM INVESTMENTS - 0.6%
Repurchase agreement - 0.6%
Repurchase Agreement with State Street Corp.
       dated 09/30/2014 at 0.000% to be
       repurchased at $3,569,000 on 10/01/2014,
       collateralized by $3,255,000 U.S. Treasury
       Bonds, 3.750 % due 11/15/2043 (valued at
       $3,645,600, including interest) $ 3,569,000 $ 3,569,000
TOTAL SHORT-TERM INVESTMENTS (Cost $3,569,000) $ 3,569,000
Total Investments (Total Stock Market Index Trust)
       (Cost $357,651,475) - 102.5% $ 588,368,345
Other assets and liabilities, net - (2.5%) (14,288,118 )
TOTAL NET ASSETS - 100.0% $ 574,080,227

Ultra Short Term Bond Trust

Shares or
Principal
Amount Value
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS - 18.6%
U.S. government - 12.2%
U.S. Treasury Notes  
       0.125%, 12/31/2014 $ 8,000,000 $ 8,001,240
       0.250%, 12/15/2014 to 01/15/2015 16,000,000 16,007,816
       2.125%, 11/30/2014 8,000,000   8,027,184
        32,036,240
U.S. government agency - 6.4%  
Federal Home Loan Mortgage Corp.
       1.890%, 12/01/2035 (P) 225,669 235,676
       1.940%, 12/01/2036 (P) 148,234 156,475
       1.947%, 06/01/2036 (P) 251,193 264,419
       2.160%, 05/01/2037 (P) 529,813 561,066
       2.207%, 02/01/2036 (P) 446,931 474,494
       2.227%, 12/01/2035 (P) 561,019 594,052
       2.290%, 11/01/2036 (P) 436,186 462,727
       2.356%, 05/01/2034 (P) 631,134 671,295
       2.420%, 08/01/2035 (P) 565,502 606,145
       2.601%, 06/01/2035 (P) 548,663 588,095
Federal National Mortgage Association
       1.865%, 10/01/2035 (P) 875,581 921,347
       1.876%, 10/01/2038 (P) 535,442 559,536
       1.915%, 02/01/2035 (P) 750,386 790,369
       2.034%, 04/01/2035 (P) 2,463,748 2,590,173
       2.130%, 07/01/2035 (P) 956,354 1,011,074
       2.299%, 01/01/2036 (P) 684,853 727,179
       2.313%, 05/01/2036 (P) 1,510,751 1,605,607
       2.320%, 02/01/2035 (P) 1,220,640 1,297,663
       2.370%, 07/01/2035 (P) 541,578 576,224

The accompanying notes are an integral part of the financial statements. 300


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Ultra Short Term Bond Trust (continued)

Shares or
Principal
Amount       Value
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS (continued)
U.S. government agency (continued)
Federal National Mortgage
Association (continued)
       2.373%, 01/01/2036 (P) $ 600,625 $ 639,061
       2.458%, 05/01/2034 (P) 387,338 413,664
Government National Mortgage Association
       1.625%, 08/20/2032 to 08/20/2035 (P) 1,188,410 1,230,072
16,976,413
TOTAL U.S. GOVERNMENT AND AGENCY
OBLIGATIONS (Cost $48,978,097) $ 49,012,653
 
CORPORATE BONDS - 51.1%
Consumer discretionary - 7.4%
American Honda Finance Corp.
       0.610%, 05/26/2016 (P)(S) 2,000,000 2,009,472
       1.125%, 10/07/2016 1,000,000   1,003,344
Comcast Corp. 4.950%, 06/15/2016 1,500,000 1,603,385
Cox Communications, Inc.  
       5.450%, 12/15/2014 2,500,000 2,524,538
Daimler Finance North America LLC  
       1.250%, 01/11/2016 (S) 500,000 503,360
       1.650%, 04/10/2015 (S) 1,000,000 1,005,825
DIRECTV Holdings LLC 3.550%, 03/15/2015 2,000,000 2,028,016
Ford Motor Credit Company LLC
       5.625%, 09/15/2015 1,500,000 1,568,267
       7.000%, 04/15/2015 1,000,000 1,034,400
Hyundai Motor Manufacturing Czech sro
       4.500%, 04/15/2015 (S) 1,000,000 1,017,689
TCI Communications, Inc.
       8.750%, 08/01/2015 1,625,000 1,735,542
Time Warner Cable, Inc. 3.500%, 02/01/2015 1,500,000 1,515,029
Viacom, Inc. 6.250%, 04/30/2016 2,000,000 2,164,290
19,713,157
Consumer staples - 1.0%
ConAgra Foods, Inc.
       1.350%, 09/10/2015 1,000,000 1,005,147
       5.819%, 06/15/2017 1,500,000 1,655,999
2,661,146
Energy - 3.4%
Anadarko Petroleum Corp.
       5.950%, 09/15/2016 2,000,000 2,181,458
Enterprise Products Operating LLC
       1.250%, 08/13/2015 1,000,000 1,004,692
Kinder Morgan Energy Partners LP
       5.125%, 11/15/2014 1,719,000 1,728,326
Petroleos Mexicanos 4.875%, 03/15/2015 2,000,000 2,036,380
Transocean, Inc. 4.950%, 11/15/2015 2,000,000 2,076,848
  9,027,704
Financials - 22.8%
Abbey National Treasury Services PLC
       3.875%, 11/10/2014 (S) 2,500,000 2,508,908
       4.000%, 04/27/2016 1,256,000 1,313,630
American Express Credit Corp.
       1.750%, 06/12/2015 1,500,000 1,513,403
       2.375%, 03/24/2017 1,000,000 1,023,362
American International Group, Inc.
       5.600%, 10/18/2016 2,500,000 2,721,515
Bank of America Corp. 3.700%, 09/01/2015 1,582,000 1,624,350
Bank of America NA 5.300%, 03/15/2017 1,775,000 1,923,179
Bank of Montreal 0.705%, 09/11/2015 (P) 1,500,000 1,506,372
BB&T Corp. 3.200%, 03/15/2016 1,500,000 1,550,721
BNP Paribas SA 3.250%, 03/11/2015 2,000,000 2,023,740
Capital One Financial Corp.
       3.150%, 07/15/2016 2,000,000 2,070,518
Citigroup Inc 5.850%, 08/02/2016 1,000,000 1,081,896
Citigroup, Inc. 4.875%, 05/07/2015 1,750,000 1,793,902
CNA Financial Corp. 5.850%, 12/15/2014 2,000,000 2,022,914
Credit Agricole SA/London
       3.500%, 04/13/2015 (S) 2,545,000 2,582,259
General Electric Capital Corp.
       2.950%, 05/09/2016 2,000,000 2,069,820
Goldman Sachs Group Inc/the
       5.350%, 01/15/2016 2,000,000 2,113,140
HCP, Inc. 3.750%, 02/01/2016 1,839,000 1,909,412
ING Bank NV 2.000%, 09/25/2015 (S) 2,000,000 2,025,548
JPMorgan Chase & Company
       1.125%, 02/26/2016 1,150,000 1,154,674
       3.150%, 07/05/2016 750,000 776,164
       3.400%, 06/24/2015 1,000,000 1,020,954
MetLife, Inc. 6.750%, 06/01/2016 2,000,000 2,194,188
Morgan Stanley
       0.714%, 10/15/2015 (P) 1,000,000 1,003,107
       4.200%, 11/20/2014 2,300,000 2,301,339
National Rural Utilities Cooperative
       Finance Corp. 0.535%, 11/23/2016 (P) 2,000,000 2,005,520
PNC Funding Corp. 4.250%, 09/21/2015 1,000,000 1,035,530
Prudential Financial, Inc. 3.875%, 01/14/2015 2,300,000 2,322,611
Rabobank Nederland NV
       0.714%, 03/18/2016 (P) 1,000,000 1,005,124
Santander US Debt SA Unipersonal
       3.724%, 01/20/2015 (S) 2,000,000 2,017,116
Societe Generale SA 3.500%, 01/15/2016 (S) 2,000,000 2,063,404
The Goldman Sachs Group, Inc.
       0.632%, 07/22/2015 (P) 1,000,000 1,001,382
The Hartford Financial Services Group, Inc.
       4.000%, 03/30/2015 2,000,000 2,035,362
The Royal Bank of Scotland PLC
       4.375%, 03/16/2016 1,750,000 1,833,613
Wells Fargo Bank NA 4.750%, 02/09/2015 1,000,000 1,015,229
60,163,906
Health care - 4.5%
AbbVie, Inc. 0.997%, 11/06/2015 (P) 2,000,000 2,013,998
Amgen, Inc.
       2.125%, 05/15/2017 2,000,000 2,035,764
       2.500%, 11/15/2016 2,000,000 2,056,428
Express Scripts Holding Company
       2.650%, 02/15/2017 2,500,000 2,570,935
Mylan Inc/pa 1.800%, 06/24/2016 1,200,000 1,213,931
Quest Diagnostics, Inc. 5.450%, 11/01/2015 1,855,000 1,944,318
11,835,374
Industrials - 3.8%
Air Lease Corp. 4.500%, 01/15/2016 1,000,000 1,035,000
BAE Systems Holdings, Inc.
       5.200%, 08/15/2015 (S) 1,000,000 1,039,375
Cooper US, Inc. 5.450%, 04/01/2015 1,000,000 1,026,160
Eaton Corp. 0.950%, 11/02/2015 750,000 752,348
Hutchison Whampoa International 09/16, Ltd.
       4.625%, 09/11/2015 (S) 1,500,000 1,551,762
PACCAR Financial Corp.
       0.504%, 02/08/2016 (P) 1,500,000 1,504,112
Penske Truck Leasing Company LP
       2.500%, 03/15/2016 (S) 1,500,000 1,530,413

The accompanying notes are an integral part of the financial statements. 301


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Ultra Short Term Bond Trust (continued)

Shares or
Principal
Amount       Value
CORPORATE BONDS (continued)
Industrials (continued)
Ryder System Inc 3.600%, 03/01/2016 $ 1,500,000 $ 1,556,994
9,996,164
Information technology - 1.2%
Hewlett-Packard Company
       2.650%, 06/01/2016 1,000,000 1,027,163
Xerox Corp. 4.250%, 02/15/2015 2,030,000 2,057,801
3,084,964
Materials - 2.0%
Glencore Canada Corp. 5.375%, 06/01/2015 2,000,000 2,061,544
Glencore Finance Canada, Ltd.
       2.050%, 10/23/2015 (S) 1,000,000 1,011,136
International Paper Company
       5.300%, 04/01/2015 495,000 506,449
The Dow Chemical Company
       2.500%, 02/15/2016 1,820,000 1,858,788
  5,437,917
Telecommunication services - 2.3%
AT&T, Inc. 2.400%, 08/15/2016 3,000,000 3,069,783
Telefonica Emisiones SAU
       6.421%, 06/20/2016 1,315,000 1,429,053
Verizon Communications, Inc.  
       0.433%, 03/06/2015 (P)(S) 1,500,000 1,500,884
5,999,720
Utilities - 2.7%
CenterPoint Energy Resources Corp.
       6.150%, 05/01/2016 1,000,000 1,082,187
Constellation Energy Group, Inc.
       4.550%, 06/15/2015 1,000,000 1,026,220
Dominion Resources, Inc. 1.950%, 08/15/2016 2,000,000 2,032,928
Entergy Texas, Inc. 3.600%, 06/01/2015 1,000,000   1,021,128
Georgia Power Company
       0.554%, 03/15/2016 (P) 2,000,000 2,000,180
7,162,643
TOTAL CORPORATE BONDS (Cost $134,791,128) $ 135,082,695
 
COLLATERALIZED MORTGAGE
OBLIGATIONS - 3.0%
U.S. government agency - 3.0%
Federal National Mortgage Association
       Series 2013-10, Class FT,
              0.505%, 04/25/2042 (P) 1,949,814 1,953,312
       Series 2013-26, Class JF,
              0.455%, 10/25/2032 (P) 4,016,873 4,014,475
       Series 4106, Class DF,
              0.554%, 09/15/2042 (P) 1,919,842 1,926,099
7,893,886
TOTAL COLLATERALIZED MORTGAGE
OBLIGATIONS (Cost $7,912,116) $ 7,893,886
 
ASSET BACKED SECURITIES - 19.1%
Ally Auto Receivables Trust, Series 2011-3,
       Class A4 1.610%, 05/16/2016 1,157,764 1,160,769
AmeriCredit Automobile Receivables Trust,
       Series 2012-1, Class A3
       1.230%, 09/08/2016 187,725 187,758
Americredit Automobile Receivables Trust,
       Series 2013-2, Class A3
       0.650%, 12/08/2017 3,000,000 3,001,596
BA Credit Card Trust, Series 2014-A2,
       Class A 0.424%, 09/16/2019 (P) 2,000,000 2,001,954
Cabela’s Master Credit Card Trust,
       Series 2010-1A, Class A2
       1.604%, 01/16/2018 (P)(S) 4,500,000 4,515,251
Capital One Multi-Asset Execution Trust,
       Series 2007-A1, Class A1
       0.204%, 11/15/2019 (P) 2,000,000 1,990,342
CarMax Auto Owner Trust
       Series 2012-1, Class A3,
              0.890%, 09/15/2016 800,170 801,491
       Series 2014-1, Class A2,
              0.470%, 02/15/2017 1,818,833 1,819,089
Chase Issuance Trust
       Series 2012-A5, Class A5,
              0.590%, 08/15/2017 4,000,000 4,004,188
       Series 2013-A4, Class A4,
              0.254%, 05/15/2017 (P) 1,000,000 1,000,000
Citibank Credit Card Issuance Trust,
       Series 2005-A2, Class A2
       4.850%, 03/10/2017 2,000,000 2,039,692
Citibank Omni Master Trust, Series 2009-A17,
       Class A17 4.900%, 11/15/2018 (S) 2,000,000 2,011,346
CNH Equipment Trust, Series 2011-B,
       Class A3 0.910%, 08/15/2016 36,361 36,374
Discover Card Execution Note Trust,
       Series 2012-A3, Class A3
       0.860%, 11/15/2017 2,000,000 2,005,360
Ford Credit Auto Owner Trust
       Series 2012-A, Class A3,
              0.840%, 08/15/2016 523,543 524,127
       Series 2012-D, Class A3,
              0.510%, 04/15/2017 1,828,938 1,829,871
       Series 2014-B, Class A2,
              0.470%, 03/15/2017 3,000,000 3,000,708
GE Capital Credit Card Master Note Trust,
       Series 2009-4, Class A 3.800%, 11/15/2017 2,000,000 2,008,386
Honda Auto Receivables Owner Trust
       Series 2011-2, Class A4,
              1.550%, 08/18/2017 1,197,449 1,198,123
       Series 2014-3, Class A3,
              0.880%, 06/15/2018 665,000 664,977
Huntington Auto Trust, Series 2012-1,
       Class A3 0.810%, 09/15/2016 130,201 130,389
Hyundai Auto Lease Securitization Trust,
       Series 2014-B, Class A2
       0.610%, 02/15/2017 (S) 3,000,000 3,001,251
Hyundai Auto Receivables Trust,
       Series 2010-B, Class A4
       1.630%, 03/15/2017 803,808 807,559
Mercedes-benz Auto Lease Trust,
       Series 2013-A, Class A2
       0.490%, 06/15/2015 211,997 212,006
Nissan Auto Lease, Series 2013-A, Class A2A
       0.450%, 09/15/2015 399,966 400,023
Toyota Auto Receivables 2011-B Owner Trust,
       Series 2011-B, Class A4
       0.940%, 11/15/2016 3,288,836 3,294,519
USAA Auto Owner Trust, Series 2012-1,
       Class A4 0.570%, 08/15/2017 3,000,000 3,001,215
Volkswagen Auto Loan Enhanced Trust,
       Series 2012-1, Class A3
       0.850%, 08/22/2016 882,964 884,538

The accompanying notes are an integral part of the financial statements. 302


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Ultra Short Term Bond Trust (continued)

Shares or
Principal
Amount       Value
ASSET BACKED SECURITIES (continued)
Westlake Automobile Receivables Trust,
       Series 2014-1A, Class A2
       0.700%, 05/15/2017 (S) $ 2,000,000 $ 2,000,072
Wheels SPV LLC, Series 2012-1, Class A2
       1.190%, 03/20/2021 (S) 827,370 828,092  
TOTAL ASSET BACKED SECURITIES (Cost $50,708,118) $ 50,361,066
 
SHORT-TERM INVESTMENTS - 9.2%
U.S. government - 5.5%
U.S. Treasury Bills
       0.041%, 11/13/2014 * 7,000,000 6,999,832
       0.053%, 10/16/2014 * 7,500,000 7,499,970
14,499,802
Repurchase agreement - 3.7%
Barclays Tri-Party Repurchase Agreement
       dated 09/30/2014 at 0.000% to be  
       repurchased at $9,810,000 on 10/01/2014,
       collateralized by $4,814,200 U.S. Treasury
       Inflation Index Bonds, 3.875% due  
       04/15/2029 (valued at $10,006,218,
       including interest) 9,810,000   9,810,000
TOTAL SHORT-TERM INVESTMENTS (Cost $24,309,489) $ 24,309,802
Total Investments (Ultra Short Term Bond Trust)  
       (Cost $266,698,948) - 101.0% $ 266,660,102
Other assets and liabilities, net - (1.0%) (2,612,658 )
TOTAL NET ASSETS - 100.0% $ 264,047,444
 
U.S. Equity Trust
 
Shares or
Principal
Amount Value
COMMON STOCKS - 98.9%
Consumer discretionary - 10.4%
Auto components - 0.0%
Gentex Corp. 13,100 $ 350,687
Automobiles - 0.0%
General Motors Company 42 1,341
Distributors - 0.2%
Genuine Parts Company 19,100 1,675,256
Hotels, restaurants and leisure - 1.4%
McDonald’s Corp. 123,151 11,675,946
Starbucks Corp. 21 1,585
Texas Roadhouse, Inc. 9,600 267,264
Yum! Brands, Inc. 21 1,512
11,946,307
Household durables - 0.1%
Garmin, Ltd. (L) 7,100 369,129
Tupperware Brands Corp. 6,500 448,760
817,889
Internet and catalog retail - 5.1%
Amazon.com, Inc. (I) 132,107 42,596,581
Leisure products - 0.3%
Hasbro, Inc. 10,300 566,449
Mattel, Inc. 31,100 953,215
Polaris Industries, Inc. 5,200 778,908
2,298,572
Media - 0.1%
Scripps Networks Interactive, Inc., Class A 6,900 538,821
Multiline retail - 0.0%
Dollar Tree, Inc. (I) 4,560 255,679
Specialty retail - 1.5%
Bed Bath & Beyond, Inc. (I) 91,900 6,049,777
Ross Stores, Inc. 28,400 2,146,472
The TJX Companies, Inc. 62,900 3,721,793
Tiffany & Company 3,700 356,347
Urban Outfitters, Inc. (I) 5,100 187,170
12,461,559
Textiles, apparel and luxury goods - 1.7%
Coach, Inc. 38,200 1,360,302
Fossil Group, Inc. (I) 4,500 422,550
NIKE, Inc., Class B 94,420 8,422,264
Ralph Lauren Corp. 7,600 1,251,948
VF Corp. 46,940 3,099,448
14,556,512
87,499,204
Consumer staples - 18.6%
Beverages - 4.5%
Brown-Forman Corp., Class B 17,198 1,551,604
Coca-Cola Company 597,900 25,506,414
Monster Beverage Corp. (I) 19,440 1,782,065
PepsiCo, Inc. 95,476 8,887,861
37,727,944
Food and staples retailing - 2.9%
Costco Wholesale Corp. 46,900 5,877,508
CVS Health Corp. 300 23,877
Sysco Corp. 80,800 3,066,360
United Natural Foods, Inc. (I) 4,600 282,716
Wal-Mart Stores, Inc. 193,480 14,795,416
24,045,877
Food products - 0.9%
General Mills, Inc. 68,300 3,445,735
Hormel Foods Corp. 20,200 1,038,078
Kellogg Company 4,900 301,840
McCormick & Company, Inc. 16,600 1,110,540
Mead Johnson Nutrition Company 300 28,866
The Hershey Company 20,600 1,965,858
7,890,917
Household products - 4.6%
Church & Dwight Company, Inc. 19,200 1,347,072
Colgate-Palmolive Company 134,880 8,796,874
Kimberly-Clark Corp. 10,800 1,161,756
Procter & Gamble Company 323,300 27,073,142
The Clorox Company (L) 4,000 384,160
38,763,004
Personal products - 0.4%
Herbalife, Ltd. (L) 12,800 560,000
The Estee Lauder Companies, Inc., Class A 31,262 2,335,897
2,895,897
Tobacco - 5.3%
Altria Group, Inc. 42 1,929
Philip Morris International, Inc. 501,584 41,832,106

The accompanying notes are an integral part of the financial statements. 303


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

U.S. Equity Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Tobacco (continued)
Reynolds American, Inc. 44,100 $ 2,601,900
  44,435,935
155,759,574
Energy - 8.8%
Oil, gas and consumable fuels - 8.8%
Apache Corp. 19,090 1,791,978
Chevron Corp. 204,371 24,385,548
ConocoPhillips 113,700 8,700,324
Exxon Mobil Corp. 332,200 31,243,410
Hess Corp. 4,100 386,712
Marathon Oil Corp. 37,700 1,417,143
Occidental Petroleum Corp. 60,035 5,772,365
73,697,480
73,697,480
Financials - 2.9%
Banks - 2.9%
JPMorgan Chase & Company 289,900   17,463,576
Wells Fargo & Company 140,300 7,277,361
24,740,937
Insurance - 0.0%
American International Group, Inc. 32 1,729
MetLife, Inc. 32   1,719
3,448
24,744,385
Health care - 21.0%
Biotechnology - 1.6%
Amgen, Inc. 51,500 7,233,690
Biogen Idec, Inc. (I) 19,050 6,301,931
13,535,621
Health care equipment and supplies - 6.1%
Abbott Laboratories 237,501 9,877,667
Baxter International, Inc. 73,301 5,260,813
Becton, Dickinson and Company 30,800 3,505,348
C.R. Bard, Inc. 10,290 1,468,486
Covidien PLC 155,400 13,443,654
Edwards Lifesciences Corp. (I) 15,420 1,575,153
IDEXX Laboratories, Inc. (I) 7,400 871,942
Intuitive Surgical, Inc. (I) 5,370 2,479,973
Medtronic, Inc. 13,313 824,740
ResMed, Inc. (L) 18,900 931,203
Sirona Dental Systems, Inc. (I) 5,300 406,404
St. Jude Medical, Inc. 45,300 2,723,889
Stryker Corp. 46,600 3,762,950
Varian Medical Systems, Inc. (I) 14,900 1,193,788
Zimmer Holdings, Inc. 25,800 2,594,190
50,920,200
Health care providers and services - 7.7%
Express Scripts Holding Company (I) 568,900 40,181,407
Henry Schein, Inc. (I) 11,800 1,374,346
Humana, Inc. 22,400 2,918,496
Laboratory Corp. of America Holdings (I) 26,700 2,716,725
MEDNAX, Inc. (I) 18,600 1,019,652
Patterson Companies, Inc. 5,400 223,722
UnitedHealth Group, Inc. 159,422 13,750,148
WellPoint, Inc. 22,200 2,655,564
64,840,060
Health care technology - 0.2%
Cerner Corp. (I) 34,280 2,042,060
Life sciences tools and services - 0.2%
Mettler-Toledo International, Inc. (I) 2,200 563,486
Techne Corp. 2,300 215,165
Waters Corp. (I) 11,600 1,149,792
1,928,443
Pharmaceuticals - 5.2%
Allergan, Inc. 31,374 5,590,533
Bristol-Myers Squibb Company 52 2,661
Eli Lilly & Company 81,201 5,265,885
Johnson & Johnson 304,300 32,435,337
Pfizer, Inc. 36 1,065
43,295,481
176,561,865
Industrials - 5.5%
Aerospace and defense - 0.5%
General Dynamics Corp. 300 38,127
Honeywell International, Inc. 19,500 1,815,840
Precision Castparts Corp. 10,400 2,463,552
United Technologies Corp. 21 2,218
4,319,737
Air freight and logistics - 0.3%
C.H. Robinson Worldwide, Inc. 21,900 1,452,408
Expeditors International of Washington, Inc. 18,600 754,788
2,207,196
Commercial services and supplies - 0.2%
Rollins, Inc. 10,500 307,440
Stericycle, Inc. (I) 10,000 1,165,600
1,473,040
Electrical equipment - 0.9%
AMETEK, Inc. 13,200 662,772
Emerson Electric Company 90,700 5,676,006
Hubbell, Inc., Class B 4,200 506,226
Rockwell Automation, Inc. 7,600 835,088
7,680,092
Industrial conglomerates - 2.5%
3M Company 97,900 13,870,472
Danaher Corp. 87,400 6,640,652
Roper Industries, Inc. 3,900 570,531
21,081,655
Machinery - 0.6%
CLARCOR, Inc. 3,600 227,088
Donaldson Company, Inc. 4,900 199,087
Dover Corp. 10,200 819,366
Flowserve Corp. 3,900 275,028
Illinois Tool Works, Inc. 24,500 2,068,290
Pall Corp. 8,900 744,930
Snap-on, Inc. 2,200 266,376
The Toro Company 2,100 124,383
Wabtec Corp. 8,100 656,424
5,380,972
Professional services - 0.1%
Equifax, Inc. 6,300 470,862
Road and rail - 0.1%
J.B. Hunt Transport Services, Inc. 2,300 170,315

The accompanying notes are an integral part of the financial statements. 304


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

U.S. Equity Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Road and rail (continued)
Landstar System, Inc. 3,500 $ 252,665
422,980
Trading companies and distributors - 0.3%
Fastenal Company 18,700 839,630
MSC Industrial Direct Company, Inc., Class A 2,700 230,742
W.W. Grainger, Inc. 7,000 1,761,550
2,831,922
45,868,456
Information technology - 30.5%
Communications equipment - 4.7%
Cisco Systems, Inc. 792,719 19,952,737
F5 Networks, Inc. (I) 7,800 926,172
QUALCOMM, Inc. 250,902 18,759,943
39,638,852
Electronic equipment, instruments and components - 0.1%
Amphenol Corp., Class A 7,300 728,978
Internet software and services - 5.5%
Akamai Technologies, Inc. (I) 13,700 819,260
eBay, Inc. (I) 154,300 8,738,009
Google, Inc., Class A (I) 47,821 28,138,355
Google, Inc., Class C (I) 15,121 8,730,261
46,425,885
IT services - 5.7%
Accenture PLC, Class A 91,000 7,400,120
Automatic Data Processing, Inc. 8,100 672,948
Cognizant Technology
       Solutions Corp., Class A (I) 80,200 3,590,554
Gartner, Inc. (I) 3,200 235,104
International Business Machines Corp. 125,502 23,824,045
Jack Henry & Associates, Inc. 12,600 701,316
MasterCard, Inc., Class A 68,400 5,056,128
Paychex, Inc. 44,300 1,958,060
Teradata Corp. (I) 93,300 3,911,136
Total System Services, Inc. 15,300 473,688
47,823,099
Semiconductors and semiconductor equipment - 0.4%
Analog Devices, Inc. 21,000 1,039,290
Intel Corp. 42 1,462
Linear Technology Corp. 19,900 883,361
Xilinx, Inc. 30,500 1,291,675
3,215,788
Software - 10.3%
ANSYS, Inc. (I) 12,500 945,875
CA, Inc. 30,200 843,788
Citrix Systems, Inc. (I) 24,900 1,776,366
FactSet Research Systems, Inc. (L) 2,800 340,284
Informatica Corp. (I) 6,700 229,408
Intuit, Inc. 38,400 3,365,760
Microsoft Corp. 918,236 42,569,421
Oracle Corp. 915,839 35,058,317
Red Hat, Inc. (I) 12,100 679,415
Synopsys, Inc. (I) 16,800 666,876
86,475,510
Technology hardware, storage and peripherals - 3.8%
Apple, Inc. 231,920 23,365,940
EMC Corp. 272,800 7,982,128
NetApp, Inc. 11,200 481,152
31,829,220
256,137,332
Materials - 1.2%
Chemicals - 1.1%
International Flavors & Fragrances, Inc. 2,300 220,524
Monsanto Company 64,300 7,234,393
Sigma-Aldrich Corp. 13,300 1,808,933
9,263,850
Containers and packaging - 0.1%
AptarGroup, Inc. 6,600 400,620
9,664,470
TOTAL COMMON STOCKS (Cost $699,632,074) $ 829,932,766
 
RIGHTS - 0.0%
Community Health Systems, Inc. (Expiration
       Date: 01/27/2016; Strike
       Price: $10.50) (I)(N) 23,900 717
TOTAL RIGHTS (Cost $1,554) $ 717
 
SECURITIES LENDING COLLATERAL - 0.3%
John Hancock Collateral
       Investment Trust, 0.1178% (W)(Y) 204,174 2,043,193
TOTAL SECURITIES LENDING
COLLATERAL (Cost $2,043,184) $ 2,043,193
 
SHORT-TERM INVESTMENTS - 0.5%
Money market funds - 0.5%
State Street Institutional Treasury Money
       Market Fund, 0.0000% (Y) 4,551,135 4,551,135
TOTAL SHORT-TERM INVESTMENTS (Cost $4,551,135) $ 4,551,135
Total Investments (U.S. Equity Trust)
       (Cost $706,227,947) - 99.7% $ 836,527,811
Other assets and liabilities, net - 0.3% 2,437,018
TOTAL NET ASSETS - 100.0% $ 838,964,829
  
Utilities Trust
 
Shares or
Principal
Amount Value
COMMON STOCKS - 92.3%
Consumer discretionary - 9.4%
Media - 9.4%
Altice SA (I) 44,477 $ 2,359,468
Astro Malaysia Holdings BHD 2,655,600 2,708,820
Charter Communications, Inc., Class A (I) 32,042 4,850,198
Comcast Corp., Special Class A (L) 295,001 15,782,554
Liberty Global PLC, Series A (I) 36,781   1,564,664
Liberty Global PLC, Series C (I) 167,287 6,861,276
Quebecor, Inc., Class B (L) 118,240 2,970,913
Time Warner Cable, Inc. 54,395 7,805,139
Time Warner, Inc. 25,436   1,913,042
Twenty-First Century Fox, Inc., Class A 77,225 2,648,045
49,464,119

The accompanying notes are an integral part of the financial statements. 305


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Utilities Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Energy - 16.5%
Oil, gas and consumable fuels - 16.5%
Access Midstream Partners LP 46,680 $ 2,970,715
Anadarko Petroleum Corp. 40,078 4,065,512
Antero Resources Corp. (I)(L) 27,974 1,535,493
Cheniere Energy, Inc. (I) 32,699 2,616,901
Cone Midstream Partners LP (I) 32,790 921,399
DCP Midstream Partners LP 8,870 482,972
El Paso Pipeline Partners LP 7,957 319,553
Enable Midstream Partners LP 36,561 900,863
Enbridge, Inc. (L) 102,830 4,922,288
Energen Corp. 59,509 4,298,930
Energy Transfer Equity LP 32,271 1,990,798
EQT Corp. 58,306 5,337,331
Kinder Morgan, Inc. 306,197 11,739,593
MarkWest Energy Partners LP 31,123   2,390,869
Noble Energy, Inc. 28,884 1,974,510
ONEOK Partners LP 42,284 2,366,213
ONEOK, Inc. 107,713 7,060,587
Plains All American Pipeline LP 23,228 1,367,200
Plains GP Holdings LP, Class A 44,398 1,360,799
SemGroup Corp., Class A 30,545 2,543,482
Spectra Energy Corp. 87,097 3,419,428
The Williams Companies, Inc. 284,354 15,738,994
Western Gas Equity Partners LP 49,740 3,031,156
Williams Partners LP 66,397 3,522,361
  86,877,947
86,877,947
Financials - 1.7%
Real estate investment trusts - 1.7%
American Tower Corp. 94,464 8,844,664
Industrials - 0.3%
Commercial services and supplies - 0.3%
Covanta Holding Corp. 80,160 1,700,995
Telecommunication services - 12.4%
Diversified telecommunication services - 7.4%
Bezeq The
       Israeli Telecommunication Corp., Ltd. (L) 2,823,563 4,874,102
CenturyLink, Inc. 67,251 2,749,893
Com Hem Holding AB (I) 404,311 2,947,834
Hellenic
       Telecommunications Organization SA (I) 285,383 3,747,022
Oi SA 1,289,409 942,924
TDC A/S 430,672 3,262,653
Telecom Italia RSP 5,608,624 4,957,571
Telecom Italia SpA (I) 213,843 244,589
TELUS Corp. 75,063 2,562,980
Verizon Communications, Inc. 121,892 6,093,381
Vivendi SA (I) 10,827 261,448
XL Axiata Tbk PT 3,100,000 1,577,382
Ziggo NV (I) 97,894 4,584,496
38,806,275
Wireless telecommunication services - 5.0%
Advanced Info Service PCL 25,300 175,559
Cellcom Israel, Ltd. (L) 161,856 1,777,179
Idea Cellular, Ltd. 233,140 624,379
KDDI Corp. 51,100 3,073,984
MegaFon OAO, GDR 107,134 2,709,925
Mobile Telesystems OJSC, ADR 304,768 4,553,234
Philippine Long Distance Telephone Company 695 47,956
SBA Communications Corp., Class A (I) 37,918 4,205,106
Tim Participacoes SA, ADR 55,507 1,454,283
Turkcell Iletisim Hizmetleri AS (I) 555,078 2,901,705
Vodafone Group PLC 1,423,390 4,690,387
26,213,697
65,019,972
Utilities - 52.0%
Electric utilities - 24.4%
ALLETE, Inc. 72,532 3,219,695
American Electric Power Company, Inc. 167,694 8,755,304
Cheung Kong Infrastructure Holdings, Ltd. 487,000 3,416,065
Cia Paranaense de Energia, ADR (L) 88,448 1,209,084
CPFL Energia SA 288,894 2,255,445
Duke Energy Corp. 24,994 1,868,801
Edison International 126,291 7,062,193
EDP - Energias de Portugal SA 2,545,294 11,099,143
EDP - Energias do Brasil SA 1,002,103 4,093,976
Enel SpA 249,938 1,322,201
Equatorial Energia SA 48,369 490,063
Exelon Corp. 304,221 10,370,894
Iberdrola SA 223,388 1,596,754
ITC Holdings Corp. 119,227 4,248,058
Light SA 192,866 1,629,443
NextEra Energy, Inc. 155,687 14,615,896
Northeast Utilities 208,790 9,249,397
NRG Yield, Inc., Class A 21,804 1,025,878
OGE Energy Corp. 209,238 7,764,822
Pinnacle West Capital Corp. 84,217 4,601,617
Portland General Electric Company 64,475 2,070,937
PPL Corp. 489,505 16,075,344
Red Electrica Corp. SA 53,217 4,606,335
SSE PLC 226,273 5,665,954
128,313,299
Gas utilities - 3.4%
APA Group, Ltd. 188,039 1,223,327
China Resources Gas Group, Ltd. 1,284,000 3,474,353
Enagas SA 180,559 5,806,597
Gas Natural SDG SA 107,081 3,149,968
Infraestructura Energetica Nova SAB de CV 220,100 1,344,477
Snam SpA 516,813 2,853,740
17,852,462
Independent power and renewable electricity
producers - 11.4%
Abengoa Yield PLC (I) 114,418 4,070,992
AES Corp. 634,226 8,993,325
Aksa Enerji Uretim AS (I) 1,362,673 1,472,260
Calpine Corp. (I) 556,192 12,069,366
China Longyuan Power Group Corp., H Shares 1,448,000 1,413,248
Drax Group PLC 331,290 3,460,799
Dynegy, Inc. (I) 25,222 727,907
EDP Renovaveis SA 1,490,754 10,336,797
Enel Green Power SpA 206,452 526,954
Infinis Energy PLC 316,665 1,127,660
Nextera Energy Partners LP (I)(L) 7,411 257,088
NRG Energy, Inc. 514,084 15,669,280
60,125,676
Multi-utilities - 12.8%
AGL Energy, Ltd. 127,572 1,511,212
Alliant Energy Corp. 9,373 519,358
Ameren Corp. 69,677 2,670,719
Canadian Utilities, Ltd., Class A 29,551 1,032,220

The accompanying notes are an integral part of the financial statements. 306


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Utilities Trust (continued)

    Shares or        
Principal
Amount Value
COMMON STOCKS (continued)
Multi-utilities (continued)
CMS Energy Corp. 435,903 $ 12,928,883
Dominion Resources, Inc. 107,317 7,414,532
DTE Energy Company 108,721 8,271,494
GDF Suez 234,637 5,884,800
NiSource, Inc. 40,751 1,669,976
PG&E Corp. 5,968 268,799
Public Service Enterprise Group, Inc. 278,313 10,364,376
Sempra Energy 128,188 13,508,451
Wisconsin Energy Corp. 30,892 1,328,356
67,373,176
273,664,613
TOTAL COMMON STOCKS (Cost $435,597,581) $ 485,572,310
             
PREFERRED SECURITIES - 4.8%
Financials - 0.3%
Real estate investment trusts - 0.3%
American Tower Corp. 16,010 1,737,085
Telecommunication services - 0.7%
Diversified telecommunication services - 0.7%
Oi SA 4,903,550 3,485,722
Utilities - 3.8%
Electric utilities - 2.4%
Cia Paranaense de Energia, B Shares 169,600 2,310,066
Exelon Corp., 6.500% (L) 116,705 5,928,614
NextEra Energy, Inc., 5.889% 68,191 4,085,323
12,324,003
Multi-utilities - 1.4%
Dominion Resources, Inc., 6.000% 62,844 3,534,975
Dominion Resources, Inc., 6.125% 51,696 2,898,078
Dominion Resources, Inc., 6.375% 21,300 1,062,870
7,495,923
19,819,926
TOTAL PREFERRED SECURITIES (Cost $24,632,471) $ 25,042,733
             
CORPORATE BONDS - 0.1%
Utilities - 0.1%
Electric utilities - 0.1%
Viridian Group FundCo II, Ltd.
       11.125%, 04/01/2017 (S) $ 589,000 $ 636,120
TOTAL CORPORATE BONDS (Cost $607,565) $ 636,120
             
CONVERTIBLE BONDS - 0.8%
Telecommunication services - 0.8%
Wireless telecommunication services - 0.8%
SBA Communications Corp.
       4.000%, 10/01/2014 $ 1,134,000 $ 4,143,636
TOTAL CONVERTIBLE BONDS (Cost $2,462,652) $ 4,143,636
           
SECURITIES LENDING COLLATERAL - 4.1%
John Hancock Collateral
       Investment Trust, 0.1178% (W)(Y) 2,168,886 21,704,262
TOTAL SECURITIES LENDING
COLLATERAL (Cost $21,704,093) $ 21,704,262
             
SHORT-TERM INVESTMENTS - 0.7%
Commercial paper - 0.2%
HSBC Americas, Inc., 0.050%, 10/01/2014 * $ 1,335,000 1,335,000
Repurchase agreement - 0.5%
Repurchase Agreement with State Street Corp.
       dated 09/30/2014 at 0.000% to be
       repurchased at $2,435,000 on 10/01/2014,
       collateralized by $2,500,000 U.S. Treasury
       Notes, 1.500% due 01/31/2019 (valued at
       $2,487,500, including interest) 2,435,000 2,435,000
TOTAL SHORT-TERM INVESTMENTS (Cost $3,770,000) $ 3,770,000
Total Investments (Utilities Trust)
       (Cost $488,774,362) - 102.8% $ 540,869,061
Other assets and liabilities, net - (2.8%) (14,759,607 )
TOTAL NET ASSETS - 100.0% $ 526,109,454
 
Value Trust
 
Shares or    
Principal
Amount Value
COMMON STOCKS - 97.4%
Consumer discretionary - 9.9%  
Auto components - 4.6%
Dana Holding Corp. 622,391   $ 11,931,235
Johnson Controls, Inc.   417,413 18,366,172
30,297,407
Specialty retail - 5.3%
Advance Auto Parts, Inc. 100,797 13,133,849
Ascena Retail Group, Inc. (I) 1,057,356 14,062,835
Express, Inc. (I) 453,905 7,085,457
34,282,141
64,579,548
Consumer staples - 3.4%
Food products - 3.4%
ConAgra Foods, Inc. 667,602 22,057,570
Energy - 5.9%
Energy equipment and services - 1.9%
AMEC PLC 684,075 12,206,745
Oil, gas and consumable fuels - 4.0%
Newfield Exploration Company (I) 337,293 12,503,452
ONEOK, Inc. 7,803 511,487
The Williams Companies, Inc. 236,396 13,084,519
26,099,458
38,306,203
Financials - 26.4%
Banks - 8.6%
BB&T Corp. 411,559 15,314,110
Comerica, Inc. 355,400 17,720,244
Wintrust Financial Corp. 316,486 14,137,430
Zions Bancorporation 322,394 9,368,770
56,540,554
Capital markets - 5.9%
American Capital, Ltd. (I) 551,946 7,815,555
Northern Trust Corp. 230,063 15,651,186

The accompanying notes are an integral part of the financial statements. 307


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

Value Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Capital markets (continued)
Stifel Financial Corp. (I) 322,633 $ 15,128,261
38,595,002
Diversified financial services - 0.3%
FNFV Group (I) 130,786 1,799,615
Insurance - 8.9%  
ACE, Ltd. 128,768 13,503,900
Arthur J. Gallagher & Company 152,116 6,899,982
FNF Group 486,467 13,494,595
Marsh & McLennan Companies, Inc. 263,929 13,814,044
Willis Group Holdings PLC 255,024   10,557,994
58,270,515
Real estate management and development - 2.7%
Forest City Enterprises, Inc., Class A (I) 897,834   17,561,633
172,767,319
Health care - 11.0%
Health care equipment and supplies - 2.2%
CareFusion Corp. (I) 311,977 14,116,959
Health care providers and services - 7.2%
Brookdale Senior Living, Inc. (I) 396,165 12,764,436
HealthSouth Corp. 438,885 16,194,857
Universal Health Services, Inc., Class B 174,701 18,256,255
47,215,548
Life sciences tools and services - 1.6%
PerkinElmer, Inc. 243,590 10,620,524
71,953,031
Industrials - 17.5%
Aerospace and defense - 2.1%
Textron, Inc. 392,336 14,120,173
Air freight and logistics - 1.2%
UTi Worldwide, Inc. (I) 744,719 7,916,363
Building products - 3.7%
Masco Corp. 424,192 10,146,673
Owens Corning 438,735 13,929,836
24,076,509
Electrical equipment - 1.9%
The Babcock & Wilcox Company 448,925 12,430,733
Machinery - 6.9%
Ingersoll-Rand PLC 260,721 14,694,236
Pentair PLC 214,492 14,047,081
Snap-on, Inc. 135,068 16,354,033
45,095,350
Professional services - 1.7%
Robert Half International, Inc. 225,999 11,073,951
114,713,079
Information technology - 12.3%
Communications equipment - 2.0%
Ciena Corp. (I) 796,066 13,310,224
IT services - 2.7%
Teradata Corp. (I) 416,740 17,469,741
Software - 5.7%
Cadence Design Systems, Inc. (I) 809,368 13,929,223
Citrix Systems, Inc. (I) 324,572 23,154,966
37,084,189
Technology hardware, storage and peripherals - 1.9%
Diebold, Inc. 133,963 4,731,573
NetApp, Inc. 189,349 8,134,433
12,866,006
80,730,160
Materials - 5.2%
Chemicals - 4.4%
Eastman Chemical Company 197,827 16,002,226
W.R. Grace & Company (I) 143,068 13,010,604
29,012,830
Containers and packaging - 0.8%
Sealed Air Corp. 149,292 5,207,305
34,220,135
Telecommunication services - 2.6%
Diversified telecommunication services - 2.6%
tw telecom, Inc. (I) 404,686 16,838,984
Utilities - 3.2%
Electric utilities - 2.2%
Edison International 255,939 14,312,109
Multi-utilities - 1.0%
CenterPoint Energy, Inc. 261,126 6,389,753
20,701,862
TOTAL COMMON STOCKS (Cost $534,408,859) $ 636,867,891
         
SHORT-TERM INVESTMENTS - 2.2%
Money market funds - 2.2%
State Street Institutional Liquid Reserves
       Fund, 0.0853% (Y) 14,204,328 14,204,328
TOTAL SHORT-TERM INVESTMENTS (Cost $14,204,328) $ 14,204,328
Total Investments (Value Trust) (Cost $548,613,187) - 99.6% $ 651,072,219
Other assets and liabilities, net - 0.4% 2,394,459
TOTAL NET ASSETS - 100.0% $ 653,466,678
 
Percentages are based upon net assets.

Footnotes

Key to Currency Abbreviations

ARS         Argentine Peso
AUD Australian Dollar
BRL Brazilian Real
CAD Canadian Dollar
CHF Swiss Franc
CLP Chilean Peso
DKK Danish Krone
DOP Dominican Peso
EUR Euro
GBP British Pound
HKD Hong Kong Dollar
INR Indian Rupee
JPY Japanese Yen
KRW Korean Won
MXN Mexican Peso

The accompanying notes are an integral part of the financial statements. 308


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — September 30, 2014 (Unaudited) (showing percentage of total net assets)

MYR         Malaysian Ringgit
NZD New Zealand Dollar
NOK Norwegian Krone
PHP Philippine Peso
RUB Russian Ruble
SEK Swedish Krona
SGD Singapore Dollar
THB Thai Baht
UYU Uruguayan Peso
ZAR South African Rand

Key to Security Abbreviations and Legend

ADR         American Depositary Receipts
CMT Constant Maturity Treasury
ETF Exchange Traded Fund
GO General Obligation
GDR Global Depositary Receipts
IO Interest-Only Security (Interest Tranche of Stripped Mortgage Pool). Rate shown is the annualized yield at the end of the period.
LIBOR London Interbank Offered Rate
NVDR Non Voting Depositary Receipts
PIK Payment-in-kind
PO Principal-Only Security (Principal Tranche of Stripped Security). Rate shown is the annualized yield at the end of the period.
REIT Real Estate Investment Trust
SELIC Sistema Especial de Liquidacao e Custodia (Special Clearance and Escrow System)
TBA To Be Announced. A forward mortgage-backed securities trade issued by a U.S. Government Agency, to be delivered at an agreed-upon future settlement date.
TBD To Be Determined
USGG U.S. Generic Government Yield Index
(A) The subadvisor is an affiliate of the advisor.
(C) Security purchased on a when-issued or delayed delivery basis.
(D) All or a portion of this security is segregated at the custodian as collateral pursuant to certain derivative instrument contracts.
(G) The portfolio’s subadvisor is shown parenthetically.
(H) Non-income producing — Issuer and/or security is in default.
(I) Non-income producing security.
(L) A portion of the security is on loan as of September 30, 2014.
(M) Term loans are variable rate obligations. The coupon rate shown represents the rate at period end.
(N) Strike price and/or expiration date not available.
(O) The investment is an affiliate of the fund, the adviser and/or the subadviser.
(P) Variable rate obligation. Securities reset coupon rates periodically. The coupon rate shown represents the rate at period end.
(Q) Perpetual bonds have no stated maturity date. Date shown as maturity date is next call date.
(R) Direct placement securities are restricted as to resale and the fund has limited rights to registration under the Securities Act of 1933. For more information on this security refer to the Notes to Portfolio of Investments.
(S) These securities are exempt from registration under Rule 144A of the Securities Act of 1933. Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration.
(T) This position represents an unsettled loan commitment at period end. Certain details associated with this purchase are not known prior to the settlement date, including coupon rate.
(W) Investment is an affiliate of the fund, the advisor and/or subadvisor. This investment represents collateral recieved for securities lending.
(Y) The rate shown is the annualized seven-day yield as of September 30, 2014.
(Z) Zero coupon bonds are issued at a discount from their principal amount in lieu of paying interest periodically. Rate shown is the annualized yield at period end.
* Yield represents either the annualized yield at the date of purchase, the stated coupon rate or, for floating rate securities, the rate at period end.
(1) Manulife Asset Management (US) LLC is doing business as John Hancock Asset Management.
(2) Manulife Asset Management (North America) Limited is doing business as John Hancock Asset Management.

The accompanying notes are an integral part of the financial statements. 309


Certain funds had the following country concentration as a percentage of net assets on 9-30-14:

Alpha Opportunities Trust
United States       78.9 %
Canada 3.0 %
United Kingdom 2.9 %
Switzerland 2.6 %
Japan 2.5 %
China 2.1 %
Netherlands 1.6 %
Ireland 1.0 %
France 0.8 %
Belgium 0.7 %
Other Countries 3.9 %
Total 100.0 %

Financial Services Trust
United States       84.5 %
United Kingdom 5.4 %
Italy 2.8 %
Sweden 2.5 %
Bermuda 2.1 %
Switzerland 1.5 %
Denmark 1.0 %
Norway 0.2 %
Total 100.0 %

High Yield Trust
United States       80.6 %
United Kingdom 3.2 %
Luxembourg 3.1 %
Netherlands 2.0 %
Australia 1.9 %
Canada 1.5 %
France 1.0 %
Mexico 0.9 %
Ireland 0.8 %
Germany 0.7 %
Other Countries 4.3 %
Total 100.0 %

310


Income Trust
United States 79.2 %
United Kingdom 6.2 %
Netherlands 4.0 %
Canada 2.2 %
Australia 1.8 %
Switzerland 1.4 %
France 1.2 %
Marshall Islands 1.0 %
Mexico 1.0 %
Luxembourg 0.7 %
Other Countries 1.3 %
Total       100.0 %

Mutual Shares Trust
United States 77.7 %
United Kingdom 8.8 %
Switzerland 3.4 %
Netherlands 3.0 %
Israel 2.1 %
Denmark 1.5 %
Germany 1.3 %
South Korea 1.2 %
Canada 0.5 %
Italy 0.3 %
Other Countries 0.2 %
Total       100.0 %

Natural Resources Trust
United States 38.0 %
United Kingdom 18.0 %
Canada 11.4 %
Australia 8.4 %
Netherlands 7.6 %
Brazil 4.6 %
Portugal 2.3 %
China 2.2 %
France 2.1 %
South Korea 1.7 %
Other Countries 3.7 %
Total       100.0 %

311


Real Return Bond Trust
United States 70.0 %
Greece 6.6 %
Mexico 5.7 %
Italy 4.6 %
Netherlands 3.7 %
Germany 3.0 %
Spain 2.6 %
Cayman Islands 1.1 %
France 0.7 %
Australia 0.7 %
Other Countries 1.3 %
Total       100.0 %

Science & Technology Trust
United States       83.0 %
China 5.2 %
Netherlands 2.2 %
Japan 1.9 %
Ireland 1.8 %
United Kingdom 1.6 %
Singapore 1.4 %
Israel 0.9 %
Taiwan 0.7 %
South Korea 0.6 %
Other Countries 0.7 %
Total 100.0 %

Strategic Equity Allocation Trust
United States       71.0 %
Japan 5.8 %
United Kingdom 5.4 %
Switzerland 3.0 %
France 2.7 %
Germany 2.4 %
Australia 2.2 %
Netherlands 1.1 %
Spain 1.0 %
Hong Kong 0.8 %
Other Countries 4.6 %
Total 100.0 %

312


Strategic Income Opportunities Trust
United States 67.8 %
Australia 3.9 %
New Zealand 2.8 %
Singapore 2.5 %
Canada 2.4 %
Philippines 2.2 %
South Korea 2.2 %
Malaysia 2.1 %
Thailand 2.0 %
Mexico 1.8 %
Other Countries 10.3 %
Total       100.0 %

Total Return Trust
United States 71.9 %
Italy 8.0 %
Spain 5.1 %
Mexico 4.4 %
Japan 2.4 %
Canada 1.8 %
United Kingdom 1.3 %
Cayman Islands 1.1 %
South Korea 0.8 %
France 0.8 %
Other Countries 2.4 %
Total       100.0 %

Utilities Trust
United States 68.5 %
Spain 5.6 %
United Kingdom 4.6 %
Brazil 3.4 %
Canada 2.2 %
Portugal 2.1 %
Italy 1.9 %
Russia 1.4 %
Hong Kong 1.3 %
Israel 1.3 %
Other Countries 7.7 %
Total       100.0 %

313


The following funds had the following sector composition as a percentage of net assets on 9-30-14:

Emerging Markets Value Trust
Financials 31.9 %
Materials 18.7 %
Energy 13.6 %
Industrials 12.7 %
Information Technology 7.7 %
Consumer Discretionary 7.0 %
Consumer Staples 3.8 %
Utilities 3.1 %
Telecommunication Services 0.9 %
Health Care 0.3 %
Short-Term Investments & Other 0.3 %
Total       100.0 %

Global Trust
Financials 22.7 %
Health Care 17.0 %
Energy 13.5 %
Information Technology 10.8 %
Consumer Discretionary 10.2 %
Industrials 9.3 %
Telecommunication Services 6.8 %
Materials 5.1 %
Consumer Staples 2.5 %
Short-Term Investments & Other 2.1 %
Total       100.0 %

International Core Trust
Energy 17.9 %
Consumer Discretionary 14.3 %
Industrials 12.6 %
Telecommunication Services 12.4 %
Utilities 11.0 %
Financials 8.2 %
Health Care 7.0 %
Materials 6.8 %
Information Technology 5.1 %
Consumer Staples 3.7 %
Short-Term Investments & Other 1.0 %
Total       100.0 %

314


International Equity Index Trust B
Financials       26.4 %
Industrials 10.7 %
Consumer Discretionary 10.2 %
Consumer Staples 9.4 %
Energy 9.1 %
Health Care 8.3 %
Materials 7.9 %
Information Technology 6.8 %
Telecommunication Services 5.2 %
Utilities 3.5 %
Short-Term Investments & Other 2.5 %
Total 100.0 %

International Growth Stock Trust
Consumer Discretionary       22.4 %
Financials 16.0 %
Information Technology 13.3 %
Industrials 10.5 %
Health Care 10.4 %
Consumer Staples 8.7 %
Energy 7.3 %
Materials 3.9 %
Utilities 0.8 %
Short-Term Investments & Other 6.7 %
Total 100.0 %

International Small Company Trust
Industrials       25.8 %
Consumer Discretionary 17.8 %
Financials 13.4 %
Materials 10.4 %
Information Technology 10.1 %
Consumer Staples 6.3 %
Health Care 6.0 %
Energy 5.9 %
Utilities 2.3 %
Telecommunication Services 1.5 %
Short-Term Investments & Others 0.5 %
Total 100.0 %

315


International Value Trust
Financials 25.7 %
Health Care 16.2 %
Energy 16.0 %
Industrials 9.6 %
Information Technology 8.6 %
Consumer Discretionary 7.7 %
Materials 5.8 %
Telecommunication Services 5.3 %
Consumer Staples 2.8 %
Utilities 0.2 %
Short-Term Investments & Other 2.1 %
Total       100.0 %

The following fund had the following portfolio composition as a percentage of total investments on 9-30-14:

Global Bond Trust
Foreign Government Obligations 51.9 %
Financials 12.9 %
Collateralized Mortgage Obligations 10.8 %
U.S. Government Agency 9.2 %
U.S. Government 8.8 %
Energy 1.6 %
Asset Backed Securities 1.0 %
Telecommunication Services 0.7 %
Consumer Discretionary 0.6 %
Consumer Staples 0.6 %
Information Technology 0.2 %
Utilities 0.2 %
Industrials 0.2 %
Purchased Options 0.1 %
Short-Term Investments 1.2 %
Total       100.0 %

316


John Hancock Variable Insurance Trust
Notes to Portfolio of Investments (Unaudited)

Security valuation. Investments are stated at value as of the close of regular trading on the New York Stock Exchange (NYSE), normally at 4:00 P.M., Eastern Time. In order to value the securities, the portfolios use the following valuation techniques: Equity securities, including exchange-traded funds, held by the portfolios are valued at the last sale price or official closing price on the exchange where the security was acquired or most likely will be sold. In the event there were no sales during the day or closing prices are not available, the securities are valued using the last available bid price. Investments by the portfolios in open-end mutual funds, including John Hancock Collateral Investment Trust (JHCIT), are valued at their respective net asset values each business day. Debt obligations are valued based on the evaluated prices provided by an independent pricing vendor or from broker-dealers. Independent pricing vendors utilize matrix pricing which takes into account factors such as institutional-size trading in similar groups of securities, yield, quality, coupon rate, maturity, type of issue, trading characteristics and other market data, as well as broker supplied prices. Options listed on an exchange are valued at the mean of the most recent bid and ask prices from the exchange where the option was acquired or most likely will be sold. Swaps and unlisted options are valued using evaluated prices obtained from an independent pricing vendor. Futures contracts are valued at settlement prices, which are the official closing prices published by the exchange on which they trade. Foreign index futures that trade in the electronic trading market subsequent to the close of regular trading and have sufficient liquidity will be valued at the last traded price in the electronic trading market as of 4:00 P.M ET. Foreign securities and currencies, including forward foreign currency contracts, are valued in U.S. dollars, based on foreign currency exchange rates supplied by an independent pricing vendor. Securities that trade only in the over-the-counter (OTC) market are valued using bid prices. Certain short-term securities with maturities of 60 days or less at the time of purchase are valued at amortized cost.

Other portfolio securities and assets, for which reliable market quotations are not readily available, are valued at fair value as determined in good faith by the portfolio’s Pricing Committee following procedures established by the Board of Trustees. The frequency with which these fair valuation procedures are used cannot be predicted and fair value of securities may differ significantly from the value that would have been used had a ready market for such securities existed. Trading in foreign securities may be completed before the daily close of trading on the NYSE. Significant events at the issuer or market level may affect the values of securities between the time when the valuation of the securities is generally determined and the close of the NYSE. If a significant event occurs, these securities may be fair valued, as determined in good faith by the portfolio’s Pricing Committee, following procedures established by the Board of Trustees. The portfolios use fair value adjustment factors provided by an independent pricing vendor to value certain foreign securities in order to adjust for events that may occur between the close of foreign exchanges or markets and the close of the NYSE.

The portfolios use a three-tier hierarchy to prioritize the pricing assumptions, referred to as inputs, used in valuation techniques to measure fair value. Level 1 includes securities valued using quoted prices in active markets for identical securities. Level 2 includes securities valued using other significant observable inputs. Observable inputs may include quoted prices for similar securities, interest rates, prepayment speeds and credit risk. Prices for securities valued using these inputs are received from independent pricing vendors and brokers and are based on an evaluation of the inputs described. Level 3 includes securities valued using significant unobservable inputs when market prices are not readily available or reliable, including the portfolios’ own assumptions in determining the fair value of investments. Factors used in determining value may include market or issuer specific events or trends, changes in interest rates and credit quality. The inputs or methodology used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. Changes in valuation techniques may result in transfers into or out of an assigned level within the disclosure hierarchy.

317


As of September 30, 2014, all investments for All Cap Core Trust, American Asset Allocation Trust, American Global Growth Trust, American Growth Trust, American Growth-Income Trust, American International Trust, American New World Trust, Franklin Templeton Founding Allocation Trust, Lifestyle Aggressive PS Series, Lifestyle Balanced PS Series, Lifestyle Conservative PS Series, Lifestyle Growth PS Series, Lifestyle Moderate PS Series, Small Company Growth Trust, Small Company Value Trust and U.S. Equity Trust are categorized as Level 1 under the hierarchy described above.

All investments for 500 Index Trust B, Lifestyle Aggressive MVP, Lifestyle Balanced MVP, Lifestyle Conservative MVP, Lifestyle Growth MVP, Lifestyle Moderate MVP, Mid Cap Index Trust and Real Estate Securities Trust are categorized as Level 1 under the hierarchy described above, except for short-term investments which are categorized as Level 2.

All investments for Money Market Trust, Money Market Trust B and Ultra Short Term Bond Trust are categorized as Level 2 under the hierarchy described above.

All investments for Bond PS Series are categorized as Level 2 under the hierarchy described above, except for securities lending collateral which is categorized as Level 1.

All investments for Bond Trust are categorized as Level 2 under the hierarchy described above, except for preferred securities and securities lending collateral which are categorized as Level 1.

All investments for Investment Quality Bond Trust are categorized as Level 2 under the hierarchy described above, except for preferred securities, securities lending collateral and futures which are categorized as Level 1.

All investments for Core Bond Trust and Total Bond Market Trust B are categorized as Level 2 under the hierarchy described above, except for securities lending collateral and money market funds which are categorized as Level 1.

All investments for New Income Trust are categorized as Level 2 under the hierarchy described above, except for money market funds and futures which are categorized as Level 1.

All investments for Short Term Government Income Trust are categorized as Level 2 under the hierarchy described above, except for futures which are categorized as Level 1.

The following is a summary of the values by input classification of the portfolios’ investments as of September 30, 2014, by major security category or type:

318


Total Market Value at
9-30-14

Level 1 Quoted
Price

Level 2 Significant
Observable Inputs

Level 3 Significant
Unobservable
Inputs

Active Bond Trust        
U.S. Government & Agency Obligations $195,880,195 — $195,880,195 —
Foreign Government Obligations 4,885,545 — 4,885,545 —
Corporate Bonds 360,595,851 — 360,560,832 $35,019
Capital Preferred Securities 12,737,223 — 12,737,223 —
Term Loans 3,451,643 — 3,451,643 —
Municipal Bonds 2,700,715 — 2,700,715 —
Collateralized Mortgage Obligations 180,692,213 — 179,909,731 782,482
Asset Backed Securities 65,618,851 — 65,257,432 361,419
Preferred Securities 6,101,255 $4,337,131 1,763,522 602
Securities Lending Collateral 2,960,261 2,960,261 — —
Short-Term Investments 16,359,811 10,219,811 6,140,000 —
Total Investments in Securities $851,983,563 $17,517,203 $833,286,838 $1,179,522
 
  Level 3 Significant
Total Market Value at Level 1 Quoted Level 2 Significant Unobservable
9-30-14 Price Observable Inputs Inputs
Alpha Opportunities Trust        
Common Stocks
Consumer Discretionary $113,145,463 $100,080,400 $12,961,136 $103,927
Consumer Staples 42,687,745 29,533,842 13,153,903 —
Energy 54,811,918 46,814,515 7,997,403 —
Financials 92,509,530 84,227,037 8,282,493 —
Health Care 124,818,309 106,710,083 18,108,226 —
Industrials 120,972,762 104,411,283 16,561,479 —
Information Technology 173,847,900 158,951,190 14,896,710 —
Materials 27,761,378 24,243,624 3,517,754 —
Telecommunication Services 5,052,826 3,289,142 1,763,684 —
Utilities 6,862,824 5,796,016 1,066,808 —
Preferred Securities
Consumer Discretionary 242,515 — — 242,515
Financials 194,434 — — 194,434
Health Care 218,960 — — 218,960
Industrials 415,250 — — 415,250
Information Technology 6,697,089 — — 6,697,089
Warrants 1,083,309 — 1,083,309 —
Securities Lending Collateral 31,699,330 31,699,330 — —
Short-Term Investments 15,500,000 — 15,500,000 —
Total Investments in Securities $818,521,542 $695,756,462 $114,892,905 $7,872,175

319


Level 3 Significant
Total Market Value at Level 1 Quoted Level 2 Significant Unobservable
9-30-14 Price Observable Inputs Inputs
Blue Chip Growth Trust  
Common Stocks
Consumer Discretionary $441,371,579 $437,043,701 $4,327,878 —
Consumer Staples 37,402,270 37,402,270 — —
Energy 69,245,711 69,245,711 — —
Financials 131,065,724 131,065,724 — —
Health Care 373,550,565 373,550,565 — —
Industrials 230,470,887 230,470,887 — —
Information Technology 394,594,852 373,879,165 20,715,687 —
Materials 63,734,305 63,734,305 — —
Telecommunication Services 6,838,203 — 6,838,203 —
Securities Lending Collateral 13,222,495 13,222,495 — —
Short-Term Investments 4,695,617 4,695,617 — —
Total Investments in Securities $1,766,192,208 $1,734,310,440 $31,881,768 —
 
Level 3 Significant
Total Market Value at Level 1 Quoted Level 2 Significant Unobservable
9-30-14 Price Observable Inputs Inputs
Capital Appreciation Trust
Common Stocks
Consumer Discretionary $286,114,375 $260,413,336 $25,701,039 —
Consumer Staples 38,531,469 38,531,469 — —
Energy 50,590,223 50,590,223 — —
Financials 22,902,007 22,902,007 — —
Health Care 217,892,952 217,892,952 — —
Industrials 68,599,413 68,599,413 — —
Information Technology 338,414,792 338,414,792 — —
Materials 18,733,703 18,733,703 — —
Securities Lending Collateral 45,707,972 45,707,972 — —
Short-Term Investments 5,623,000 — 5,623,000 —
Total Investments in Securities $1,093,109,906 $1,061,785,867 $31,324,039 —

320


Level 3 Significant
Total Market Value at Level 1 Quoted Level 2 Significant Unobservable
9-30-14 Price Observable Inputs Inputs
Capital Appreciation Value Trust
Common Stocks
Consumer Discretionary $25,293,904 $25,293,904 — —
Consumer Staples 14,606,659 14,606,659 — —
Energy 14,197,895 14,197,895 — —
Financials 42,504,449 39,692,170 $2,812,279 —
Health Care 49,805,357 49,805,357 — —
Industrials 34,975,449 34,975,449 — —
Information Technology 26,572,419 26,572,419 — —
Materials 1,631,505 1,631,505 — —
Telecommunication Services 1,730,040 1,730,040 — —
Utilities 16,393,337 16,393,337 — —
Preferred Securities
Energy 11,071 11,071 — —
Financials 806,370 806,370 — —
Utilities 939,051 939,051 — —
U.S. Government & Agency Obligations 12,335,091 — 12,335,091 —
Corporate Bonds 59,492,440 — 59,492,440 —
Convertible Bonds 636,236 — 636,236 —
Term Loans 20,452,787 — 20,452,787 —
Asset Backed Securities 1,943,868 — 1,943,868 —
Short-Term Investments 31,152,791 30,813,791 339,000 —
Total Investments in Securities $355,480,719 $257,469,018 $98,011,701 —
Other Financial Instruments:
Written Options ($856,363) ($52,726) ($803,627) —

321


Level 3 Significant
Total Market Value at Level 1 Quoted Level 2 Significant Unobservable
9-30-14 Price Observable Inputs Inputs
Core Strategy Trust
Common Stocks
Consumer Discretionary $772 — — $772
Consumer Staples 854 — $854 —
Health Care 685 — — 685
Industrials 70 — — 70
Materials 2 — 2 —
Investment Companies 3,938,678,747 $3,938,678,747 — —
Total Investments in Securities $3,938,681,130 $3,938,678,747 $856 $1,527
 
Level 3 Significant
Total Market Value at Level 1 Quoted Level 2 Significant Unobservable
9-30-14 Price Observable Inputs Inputs
Emerging Markets Value Trust
Common Stocks
Australia $317,492 — $317,492 —
Brazil 58,018,158 $58,018,158 — —
Chile 16,328,308 6,929,365 9,398,943 —
China 100,108,460 15,221,011 84,349,317 $538,132
Colombia 2,803,508 2,803,508 — —
Czech Republic 4,690,164 — 4,690,164 —
Greece 2,332,642 — 2,332,642 —
Hong Kong 32,604,069 2,276,639 29,918,587 408,843
Hungary 2,494,447 — 2,494,447 —
India 76,995,587 3,665,437 73,306,442 23,708
Indonesia 26,678,537 — 26,668,422 10,115
Malaysia 44,974,770 — 44,974,770 —
Mexico 54,475,251 54,355,299 42,565 77,387
Philippines 11,172,698 — 11,172,566 132
Poland 20,141,960 — 20,141,960 —
Russia 27,447,515 — 27,447,515 —
South Africa 66,563,085 11,070,414 55,473,703 18,968
South Korea 135,141,688 38,084,796 97,008,924 47,968
Taiwan 133,435,878 3,675,892 128,213,974 1,546,012
Thailand 28,871,032 — 28,871,032 —
Turkey 18,553,155 — 18,548,096 5,059
Ukraine 194,727 — 194,727 —
Preferred Securities
Brazil 23,314,114 23,314,114 — —
Colombia 966,462 966,462 — —
Rights 143,010 31,809 111,201 —
Warrants 2,270 2,256 14 —
Securities Lending Collateral 46,485,441 46,485,441 — —
Total Investments in Securities $935,254,428 $266,900,601 $665,677,503 $2,676,324

322


Level 3 Significant
Total Market Value at Level 1 Quoted Level 2 Significant Unobservable
9-30-14 Price Observable Inputs Inputs
Equity-Income Trust
Common Stocks
Consumer Discretionary $208,954,139 $202,623,968 $6,330,171 —
Consumer Staples 93,459,198 93,459,198 — —
Energy 271,221,129 271,221,129 — —
Financials 368,329,712 368,329,712 — —
Health Care 129,810,034 120,098,422 9,711,612 —
Industrials 264,002,209 264,002,209 — —
Information Technology 203,588,850 185,153,252 — $18,435,598
Materials 98,613,666 98,613,666 — —
Telecommunication Services 75,031,088 62,325,091 12,705,997 —
Utilities 120,015,043 120,015,043 — —
Securities Lending Collateral 54,862,950 54,862,950 — —
Short-Term Investments 183,023,371 183,023,371 — —
Total Investments in Securities $2,070,911,389 $2,023,728,011 $28,747,780 $18,435,598

323


Level 3 Significant
Total Market Value at Level 1 Quoted Level 2 Significant Unobservable
9-30-14 Price Observable Inputs Inputs
Financial Services Trust        
Common Stocks
Financials $163,379,795 $148,312,405 $12,195,701 $2,871,689
Information Technology 1,693,944 1,693,944 — —
Warrants 918,046 918,046 — —
Short-Term Investments 2,801,000 — 2,801,000 —
Total Investments in Securities $168,792,785 $150,924,395 $14,996,701 $2,871,689
   
Level 3 Significant
Total Market Value at Level 1 Quoted Level 2 Significant Unobservable
9-30-14 Price Observable Inputs Inputs
Fundamental All Cap Core Trust
Common Stocks
Consumer Discretionary $349,951,659 $324,856,776 $25,094,883 —
Consumer Staples 40,653,871 14,889,716 25,764,155 —
Energy 71,499,109 71,499,109 — —
Financials 490,450,073 490,450,073 — —
Health Care 26,475,255 26,475,255 — —
Industrials 95,559,076 95,559,076 — —
Information Technology 486,816,338 486,816,338 — —
Materials 58,171,804 58,171,804 — —
Short-Term Investments 10,076,000 — 10,076,000 —
Total Investments in Securities $1,629,653,185 $1,568,718,147 $60,935,038 —

324


Level 3 Significant
Total Market Value at Level 1 Quoted Level 2 Significant Unobservable
9-30-14 Price Observable Inputs Inputs
Fundamental Large Cap Value Trust    
Common Stocks  
Consumer Discretionary $143,752,795 $129,071,166 $14,681,629 —
Consumer Staples 125,020,756 64,345,785 60,674,971 —
Energy 158,917,555 158,917,555 — —
Financials 406,768,371 406,768,371 — —
Health Care 73,845,410 73,845,410 — —
Industrials 109,945,119 109,945,119 — —
Information Technology 151,335,258 151,335,258 — —
Materials 37,455,114 37,455,114 — —
Short-Term Investments 14,632,000 — 14,632,000 —
Total Investments in Securities $1,221,672,378 $1,131,683,778 $89,988,600 —

Level 3 Significant
Total Market Value at Level 1 Quoted Level 2 Significant Unobservable
9-30-14 Price Observable Inputs Inputs
Fundamental Value Trust
Common Stocks
Consumer Discretionary $71,311,224 $64,391,166 $6,920,058 —
Consumer Staples 61,105,488 31,763,972 29,341,516 —
Energy 78,005,500 78,005,500 — —
Financials 195,557,291 195,557,291 — —
Health Care 36,326,590 36,326,590 — —
Industrials 53,126,171 53,126,171 — —
Information Technology 74,561,762 74,561,762 — —
Materials 18,958,673 18,958,673 — —
Total Investments in Securities $588,952,699 $552,691,125 $36,261,574 —

325


Level 3 Significant
Total Market Value at Level 1 Quoted Level 2 Significant Unobservable
9-30-14 Price Observable Inputs Inputs
Global Trust
Common Stocks
Brazil $3,033,986 $3,033,986 — —
Canada 8,791,818 8,791,818 — —
China 9,162,895 3,258,247 $5,904,648 —
Denmark 3,851,430 — 3,851,430 —
France 61,070,115 — 61,070,115 —
Germany 37,400,424 — 37,400,424 —
Hong Kong 6,410,902 — 6,410,902 —
India 3,124,724 3,124,724 — —
Ireland 9,585,198 — 9,585,198 —
Israel 11,981,413 11,981,413 — —
Italy 18,270,648 — 18,270,648 —
Japan 16,634,507 — 16,634,507 —
Netherlands 37,986,155 — 37,986,155 —
Portugal 8,253,896 — 8,253,896 —
Russia 17,093,572 9,064,187 8,029,385 —
Singapore 12,833,077 — 12,833,077 —
South Korea 30,448,916 7,149,393 23,299,523 —
Spain 8,376,160 — 8,376,160 —
Sweden 10,322,958 — 10,322,958 —
Switzerland 24,753,634 — 24,753,634 —
Thailand 1,851,544 — 1,851,544 —
Turkey 6,964,463 6,964,463 — —
United Kingdom 69,005,524 4,967,059 64,038,465 —
United States 206,063,015 203,421,041 2,641,974 —
Securities Lending Collateral 14,365,220 14,365,220 — —
Short-Term Investments 12,000,000 — 12,000,000 —
Total Investments in Securities $649,636,194 $276,121,551 $373,514,643 —

326


Level 3 Significant
Total Market Value at Level 1 Quoted Level 2 Significant Unobservable
9-30-14 Price Observable Inputs Inputs
Global Bond Trust  
U.S. Government & Agency Obligations $158,646,728 — $158,646,728 —
Foreign Government Obligations 455,966,982 — 455,966,982 —
Corporate Bonds 133,262,121 — 133,145,403 $116,718
Municipal Bonds 325,702 — 325,702 —
Collateralized Mortgage Obligations 95,027,513 — 95,027,513 —
Asset Backed Securities 8,753,090 — 8,753,090 —
Term Loans 583,500 — 583,500 —
Common Stocks 80,864 $80,864 — —
Preferred Securities 239,806 239,806 — —
Escrow Shares 2,170,000 — 2,170,000 —
Purchased Options 495,195 — 495,195 —
Certificate of Deposit 11,338,128 — 11,338,128 —
Commercial Paper 1,366,511 — 1,366,511 —
Short-Term Investments 10,779,895 — 10,779,895 —
Total Investments in Securities $879,036,035 $320,670 $878,598,647 $116,718
Sale Commitments Outstanding ($109,037,797) — ($109,037,797) —
Other Financial Instruments:
Futures ($773,842) ($773,842) — —
Forward Foreign Currency Contracts $6,635,582 — $6,635,582 —
Written Options ($3,611,574) ($4,454) ($3,607,120) —
Interest Rate Swaps ($2,180,740) — ($2,180,740) —
Credit Default Swaps $228,536 — $228,536 —
Currency Swaps ($4,096,364) — ($4,096,364) —

Level 3 Significant
Total Market Value at Level 1 Quoted Level 2 Significant Unobservable
9-30-14 Price Observable Inputs Inputs
Health Sciences Trust
Common Stocks
Consumer Staples $5,133,523 $4,741,987 $391,536 —
Health Care 278,719,800 269,755,217 8,940,911 $23,672
Industrials 8,362,494 8,362,494 — —
Information Technology 1,734,660 1,734,660 — —
Preferred Securities  
Health Care 633,893 — — 633,893
Information Technology 152,390 — — 152,390
Convertible Bonds 55,367 — 55,367 —
Rights 9,020 9,020 — —
Warrants 4,114 — 4,114 —
Short-Term Investments 1,748,268 1,748,268 — —
Total Investments in Securities $296,553,529 $286,351,646 $9,391,928 $809,955
Other Financial Instruments:
Written Options ($234,293) ($234,293) — —

327


Level 3 Significant
Total Market Value at Level 1 Quoted Level 2 Significant Unobservable
9-30-14 Price Observable Inputs Inputs
High Yield Trust
Foreign Government Obligations $2,025,612 — $2,025,612 —
Corporate Bonds 253,748,540 — 252,237,032 $1,511,508
Capital Preferred Securities 942,500 — 942,500 —
Convertible Bonds 969,533 — 324,533 645,000
Term Loans 12,951,561 — 12,951,561 —
Common Stocks 7,988,005 $4,415,344 124,945 3,447,716
Preferred Securities 2,861,961 2,543,836 318,125 —
Escrow Certificates 53,157 — 53,157 —
Warrants 78 — 78 —
Securities Lending Collateral 8,132,851 8,132,851 — —
Short-Term Investments 3,171,434 3,027,647 143,787 —
Total Investments in Securities $292,845,232 $18,119,678 $269,121,330 $5,604,224
Other Financial Instruments:
Futures $182,892 $182,892 — —
Forward Foreign Currency Contracts $227,957 — $227,957 —
Credit Default Swaps ($473,656) — ($473,656) —
 
Level 3 Significant
Total Market Value at Level 1 Quoted Level 2 Significant Unobservable
9-30-14 Price Observable Inputs Inputs
Income Trust
Corporate Bonds $139,345,971 — $139,345,971 —
Convertible Bonds 8,616,012 — 8,616,012 —
Term Loans 8,347,275 — 8,347,275 —
Common Stocks 247,859,634 $229,310,396 17,322,661 $1,226,577
Preferred Securities 24,138,421 18,449,126 4,466,313 1,222,982
Warrants 44,695 44,695 — —
Escrow Certificates 850 — — 850
Equity Linked Securities 6,493,100 — 6,493,100 —
Securities Lending Collateral 16,247,730 16,247,730 — —
Total Investments in Securities $451,093,688 $264,051,947 $184,591,332 $2,450,409

328


Level 3 Significant
Total Market Value at Level 1 Quoted Level 2 Significant Unobservable
9-30-14 Price Observable Inputs Inputs
International Core Trust
Common Stocks
Australia $2,669,296 — $2,669,296 —
Austria 3,284,404 — 3,284,404 —
Belgium 7,064,452 — 7,064,452 —
Bermuda 219,907 — 219,907 —
Canada 2,725,714 $2,725,714 — —
Denmark 9,609,026 — 9,609,026 —
Finland 11,647,710 — 11,647,710 —
France 143,334,268 — 143,334,268 —
Germany 92,672,389 — 92,672,389 —
Guernsey, Channel Islands 313,059 — 313,059 —
Hong Kong 14,816,145 — 14,816,145 —
Ireland 6,518,845 — 6,518,845 —
Israel 3,964,805 1,848,708 2,116,097 —
Italy 44,644,601 — 44,644,601 —
Japan 161,465,354 — 161,465,354 —
Luxembourg 2,721,438 — 2,721,438 —
Macau 868,076 — 868,076 —
Netherlands 48,173,908 — 48,173,908 —
New Zealand 177,432 — 177,432 —
Norway 16,568,117 — 16,568,117 —
Portugal 3,317,224 — 3,317,224 —
Singapore 1,544,158 — 1,544,158 —
Spain 53,157,791 — 53,157,791 —
Sweden 15,083,945 — 15,083,945 —
Switzerland 12,010,140 — 12,010,140 —
United Kingdom 76,152,156 — 76,152,156 —
United States 2,010,555 2,010,555 — —
Preferred Securities 15,131,563 — 15,131,563 —
Rights 13,083 13,083 — —
Warrants 608,569 608,569 — —
Securities Lending Collateral 22,693,637 22,693,637 — —
Short-Term Investments 6,039,035 6,039,035 — —
Total Investments in Securities $781,220,802 $35,939,301 $745,281,501 —
Other Financial Instruments:
Forward Foreign Currency Contracts $89,314 — $89,314 —

329


Level 3 Significant
Total Market Value at Level 1 Quoted Level 2 Significant Unobservable
9-30-14 Price Observable Inputs Inputs
International Equity Index Trust B
Common Stocks
Australia $35,021,711 — $35,021,711 —
Austria 983,197 — 983,197 —
Belgium 5,765,541 — 5,765,541 —
Bermuda 364,359 — 364,359 —
Brazil 8,451,199 $8,451,199 — —
Canada 46,771,175 46,771,175 — —
Chile 1,706,058 1,524,728 181,330 —
China 20,038,250 — 20,038,250 —
Colombia 1,499,705 1,499,705 — —
Czech Republic 405,241 — 405,241 —
Denmark 7,091,196 — 7,091,196 —
Egypt 94,086 — 94,086 —
Finland 4,122,521 — 4,122,521 —
France 44,031,536 — 44,031,536 —
Germany 37,076,579 — 37,076,579 —
Greece 724,061 — 724,061 —
Guernsey, Channel Islands 279,259 — 279,259 —
Hong Kong 18,663,565 — 18,663,565 —
Hungary 228,815 — 228,815 —
India 9,706,948 6,663,114 3,043,834 —
Indonesia 3,691,250 8,902 3,682,348 —
Ireland 3,942,062 108,402 3,833,660 —
Israel 2,560,216 — 2,560,216 —
Italy 10,587,033 — 10,587,033 —

330


Japan 95,035,166 — 95,035,166 —
Jersey, Channel Islands 234,628 — 234,628 —
Luxembourg 1,729,412 — 1,729,412 —
Macau 762,001 — 762,001 —
Malaysia 5,387,716 — 5,387,716 —
Mexico 7,402,452 7,310,417 92,035 —
Netherlands 18,089,291 — 18,089,291 —
New Zealand 432,242 — 432,242 —
Norway 3,345,463 — 3,345,463 —
Peru 511,591 511,591 — —
Philippines 1,153,052 — 1,153,052 —
Poland 2,192,494 — 2,192,494 —
Portugal 567,381 — 567,381 —
Russia 6,379,381 4,040,108 2,339,273 —
Singapore 6,700,736 — 6,700,736 —
South Africa 10,294,379 — 10,292,942 1,437
South Korea 19,658,359 250,357 19,408,002 —
Spain 15,901,351 — 15,901,351 —
Sweden 13,799,913 — 13,799,913 —
Switzerland 44,419,063 — 44,419,063 —
Taiwan 13,487,899 — 13,487,899 —
Thailand 3,147,637 — 3,147,637 —
Turkey 2,202,351 — 2,202,351 —
United Kingdom 83,895,084 — 83,895,084 —
United States 2,747,671 2,479,363 268,308 —
Preferred Securities
Brazil 5,780,882 5,780,882 — —
Germany 2,479,007 — 2,479,007 —
South Korea 840,664 — 840,664 —
Rights 23,549 22,189 1,360 —
Securities Lending Collateral 21,564,802 21,564,802 — —
Short-Term Investments 9,022,395 — 9,022,395 —
Total Investments in Securities $662,993,575 $106,986,934 $556,005,204 $1,437
Other Financial Instruments:
Futures ($659,602) ($659,602) — —

331


Level 3 Significant
Total Market Value at Level 1 Quoted Level 2 Significant Unobservable
9-30-14 Price Observable Inputs Inputs
International Growth Stock Trust
Common Stocks
Australia $18,826,322 — $18,826,322 —
Belgium 7,907,795 — 7,907,795 —
Brazil 20,113,698 $20,113,698 — —
Canada 43,662,294 43,662,294 — —
China 22,916,568 9,556,728 13,359,840 —
Denmark 13,232,075 — 13,232,075 —
France 18,543,735 — 18,543,735 —
Germany 38,235,436 — 38,235,436 —
Hong Kong 15,302,603 — 15,302,603 —
Ireland 8,909,436 — 8,909,436 —
Israel 11,165,756 11,165,756 — —
Japan 35,114,951 — 35,114,951 —
Mexico 9,376,018 9,376,018 — —
Netherlands 7,810,965 — 7,810,965 —
Singapore 23,122,142 8,561,409 14,560,733 —
South Korea 13,960,129 — 13,960,129 —
Spain 5,140,441 — 5,140,441 —
Sweden 11,725,261 — 11,725,261 —
Switzerland 40,801,198 — 40,801,198 —
Taiwan 8,746,535 — 8,746,535 —
Thailand 6,537,698 — 6,537,698 —
Turkey 5,390,893 — 5,390,893 —
United Kingdom 92,130,344 — 92,130,344 —
Short-Term Investments 31,929,035 31,929,035 — —
Total Investments in Securities $510,601,328 $134,364,938 $376,236,390 —

332


Level 3 Significant
Total Market Value at Level 1 Quoted Level 2 Significant Unobservable
9-30-14 Price Observable Inputs Inputs
International Small Company Trust
Common Stocks
Australia $6,904,629 $43,727 $6,858,052 $2,850
Austria 1,217,605 — 1,217,605 —
Bahamas 12,593 — 12,593 —
Belgium 1,469,641 — 1,469,641 —
Bermuda 537,789 — 537,789 —
Cambodia 64,628 — 64,628 —
Canada 11,055,432 11,046,612 8,166 654
Cayman Islands 19,039 19,039 — —
China 35,108 — 35,108 —
Cyprus 66,358 — 66,358 —
Denmark 2,081,512 — 2,081,512 —
Faroe Islands 46,873 — 46,873 —
Finland 2,386,690 — 2,386,690 —
France 4,499,505 — 4,499,505 —
Gabon 9,668 — 9,668 —
Germany 5,345,009 — 5,345,009 —
Gibraltar 93,970 — 93,970 —
Greece 171 — — 171
Guernsey, Channel Islands 8,789 1,522 7,267 —
Hong Kong 3,187,924 — 3,123,217 64,707
India 43,037 — 43,037 —
Ireland 1,915,970 112,274 1,803,696 —
Isle of Man 23,312 — 23,312 —
Israel 827,854 30,767 797,087 —
Italy 3,873,026 — 3,873,026 —
Japan 24,957,576 — 24,771,610 185,966
Jersey, Channel Islands 111,538 — 111,538 —
Liechtenstein 88,107 — 88,107 —
Luxembourg 453,386 — 453,386 —
Malta 68,376 — 68,376 —
Mongolia 1,567 — 1,567 —
Netherlands 2,342,227 — 2,342,227 —
New Zealand 1,184,402 — 1,184,402 —
Norway 1,337,432 — 1,337,432 —
Papua New Guinea 2,759 — 2,759 —
Peru 26,320 — 26,320 —
Portugal 580,073 — 580,073 —
Republic of Georgia 10,009 — 10,009 —
Singapore 1,242,327 — 1,242,327 —
South Africa 7,934 — 7,934 —
Spain 2,245,318 — 2,245,318 —
Sweden 3,952,123 — 3,952,123 —
Switzerland 4,699,981 44,498 4,655,483 —
United Arab Emirates 87,572 — 87,572 —
United Kingdom 21,570,719 29,214 21,540,587 918
United States 277,283 100,449 176,834 —
Rights 8,048 3,833 4,215 —
Warrants 1 1 — —
Securities Lending Collateral 1,238,832 1,238,832 — —
Short-Term Investments 234,458 234,458 — —
Total Investments in Securities $112,454,500 $12,905,226 $99,294,008 $255,266

333


Level 3 Significant
Total Market Value at Level 1 Quoted Level 2 Significant Unobservable
9-30-14 Price Observable Inputs Inputs
International Value Trust        
Common Stocks
Belgium $6,722,587 — $6,722,587 —
Brazil 11,226,375 $11,226,375 — —
Canada 66,227,284 66,227,284 — —
China 71,810,308 10,875,191 60,935,117 —
Denmark 4,608,744 — 4,608,744 —
France 131,670,269 — 131,670,269 —
Germany 87,358,734 — 87,358,734 —
Hong Kong 44,448,359 — 44,448,359 —
India 8,480,126 — 8,480,126 —
Ireland 8,323,096 — 8,323,096 —
Israel 16,172,031 16,172,031 — —
Italy 40,250,840 — 40,250,840 —
Japan 64,345,481 — 64,345,481 —
Netherlands 68,504,509 — 68,504,509 —
Norway 20,179,527 — 20,179,527 —
Russia 11,587,069 5,680,670 5,906,399 —
Singapore 7,275,248 — 7,275,248 —
South Korea 143,196,703 27,395,649 115,801,054 —
Spain 12,493,243 — 12,493,243 —
Sweden 6,937,222 — 6,937,222 —
Switzerland 86,050,247 — 86,050,247 —
Thailand 5,288,869 — 5,288,869 —
United Arab Emirates 3,316,869 — 3,316,869 —
United Kingdom 151,460,961 7,064,027 144,396,934 —
United States 8,669,019 8,669,019 — —
Securities Lending Collateral 17,729,983 17,729,983 — —
Short-Term Investments 20,000,000 — 20,000,000 —
Total Investments in Securities $1,124,333,703 $171,040,229 $953,293,474 —

334


Level 3 Significant
Total Market Value at Level 1 Quoted Level 2 Significant Unobservable
9-30-14 Price Observable Inputs Inputs
Mid Cap Stock Trust        
Common Stocks
Consumer Discretionary $197,655,597 $187,058,491 $9,824,837 $772,269
Consumer Staples 36,852,010 36,852,010 — —
Energy 31,532,233 31,532,233 — —
Financials 41,178,178 26,103,461 15,074,717 —
Health Care 134,018,654 121,882,670 12,135,984 —
Industrials 157,318,603 157,318,603 — —
Information Technology 162,876,933 162,876,933 — —
Materials 26,518,857 26,518,857 — —
Preferred Securities
Consumer Discretionary 1,801,962 — — 1,801,962
Health Care 1,628,656 — — 1,628,656
Industrials 3,078,896 — — 3,078,896
Information Technology 35,561,086 — — 35,561,086
Warrants 200,839 200,839 — —
Securities Lending Collateral 55,140,826 55,140,826 — —
Short-Term Investments 26,000,000 — 26,000,000 —
Total Investments in Securities $911,363,330 $805,484,923 $63,035,538 $42,842,869

335


Level 3 Significant
Total Market Value at Level 1 Quoted Level 2 Significant Unobservable
9-30-14 Price Observable Inputs Inputs
Mid Value Trust
Common Stocks
Consumer Discretionary $89,863,951 $87,996,798 $1,867,153 —
Consumer Staples 76,180,660 76,180,660 — —
Energy 79,868,278 79,868,278 — —
Financials 235,199,180 234,176,301 1,022,879 —
Health Care 77,315,743 77,315,743 — —
Industrials 91,038,490 91,038,490 — —
Information Technology 32,636,187 32,636,187 — —
Materials 63,689,179 60,508,641 3,180,538 —
Telecommunication Services 6,077,119 6,077,119 — —
Utilities 67,272,462 67,272,462 — —
Preferred Securities
Energy 1,735,428 — 1,735,428 —
Financials 356,598 356,598 — —
Convertible Bonds 3,798,754 — 3,798,754 —
Securities Lending Collateral 40,021,903 40,021,903 — —
Short-Term Investments 77,187,998 77,187,998 — —
Total Investments in Securities $942,241,930 $930,637,178 $11,604,752 —

Level 3 Significant
Total Market Value at Level 1 Quoted Level 2 Significant Unobservable
9-30-14 Price Observable Inputs Inputs
Mutual Shares Trust
Common Stocks
Consumer Discretionary $60,912,499 $49,409,534 $11,502,965 —
Consumer Staples 71,217,030 52,279,837 18,937,193 —
Energy 62,750,153 42,021,433 20,728,720 —
Financials 125,651,276 101,499,306 20,190,143 $3,961,827
Health Care 76,458,561 73,606,381 2,852,180 —
Industrials 28,222,269 17,428,846 10,793,423 —
Information Technology 67,898,001 63,809,974 4,088,027 —
Materials 27,954,555 20,342,658 7,611,897 —
Telecommunication Services 11,722,406 — 11,722,406 —
Utilities 8,109,166 8,109,166 — —
Corporate Bonds 20,187,085 — 20,187,085 —
Term Loans 21,753,748 — 21,753,748 —
Municipal Bonds 1,800,521 — 1,800,521 —
Preferred Securities 3,802,226 — 3,802,226 —
Securities Lending Collateral 5,677,766 5,677,766 — —
Short-Term Investments 33,998,415 — 33,998,415 —
Total Investments in Securities $628,115,677 $434,184,901 $189,968,949 $3,961,827
Other Financial Instruments:
Forward Foreign Currency Contracts $3,383,095 — $3,383,095 —

336


Level 3 Significant
Total Market Value at Level 1 Quoted Level 2 Significant Unobservable
9-30-14 Price Observable Inputs Inputs
Natural Resources Trust
Common Stocks
Energy $78,662,912 $46,503,507 $32,159,405 —
Industrials 8,308,635 5,628,254 2,680,381 —
Information Technology 2,194,829 2,194,829 — —
Materials 36,683,190 14,745,431 21,937,759 —
Securities Lending Collateral 8,900,717 8,900,717 — —
Short-Term Investments 1,300,000 — 1,300,000 —
Total Investments in Securities $136,050,283 $77,972,738 $58,077,545 —

337


Level 3 Significant
Total Market Value at Level 1 Quoted Level 2 Significant Unobservable
9-30-14 Price Observable Inputs Inputs
Real Return Bond Trust
U.S. Government & Agency Obligations $85,381,066 — $85,381,066 —
Foreign Government Obligations 10,855,425 — 10,855,425 —
Corporate Bonds 7,694,176 — 7,694,176 —
Collateralized Mortgage Obligations 4,931,626 — 4,931,626 —
Asset Backed Securities 2,684,398 — 2,684,398 —
Common Stocks 7,040 $7,040 — —
Purchased Options 446 445 1 —
Certificate of Deposit 3,502,512 — 3,502,512 —
Short-Term Investments 53,195,715 — 53,195,715 —
Total Investments in Securities $168,252,404 $7,485 $168,244,919 —
Other Financial Instruments:  
Futures ($29,942) ($29,942) — —
Forward Foreign Currency Contracts $928,575 — $928,575 —
Written Options ($23,315) — ($23,315) —
Interest Rate Swaps ($934,221) — ($934,221) —
Credit Default Swaps ($65,171) — ($65,171) —
Inflation Swaps ($246,764) — ($246,764) —

Level 3 Significant
Total Market Value at Level 1 Quoted Level 2 Significant Unobservable
9-30-14 Price Observable Inputs Inputs
Science & Technology Trust        
Common Stocks
Consumer Discretionary $62,004,954 $62,004,954 — —
Financials 1,073,468 1,073,468 — —
Health Care 17,218,427 17,218,427 — —
Industrials 7,610,799 5,232,085 $2,378,714 —
Information Technology 342,912,640 324,915,645 10,546,107 $7,450,888
Telecommunication Services 12,310,435 6,163,118 6,147,317 —
Preferred Securities 2,202,938 — — 2,202,938
Securities Lending Collateral 27,044,081 27,044,081 — —
Short-Term Investments 21,173,561 9,566,561 11,607,000 —
Total Investments in Securities $493,551,303 $453,218,339 $30,679,138 $9,653,826

338


Level 3 Significant
Total Market Value at Level 1 Quoted Level 2 Significant Unobservable
9-30-14 Price Observable Inputs Inputs
Small Cap Growth Trust        
Common Stocks
Consumer Discretionary $74,486,897 $69,109,523 $5,377,374 —
Consumer Staples 4,583,081 4,583,081 — —
Energy 15,631,616 15,631,616 — —
Financials 35,900,444 35,900,444 — —
Health Care 98,787,193 98,787,193 — —
Industrials 104,221,901 104,221,901 — —
Information Technology 115,755,380 115,120,694 — $634,686
Materials 10,874,965 10,874,965 — —
Preferred Securities
Consumer Discretionary 16,932,651 — 16,932,651 —
Industrials 1,211,529 — — 1,211,529
Information Technology 9,176,540 — — 9,176,540
Securities Lending Collateral 47,278,930 47,278,930 — —
Short-Term Investments 13,600,000 — 13,600,000 —
Total Investments in Securities $548,441,127 $501,508,347 $35,910,025 $11,022,755

Level 3 Significant
Total Market Value at Level 1 Quoted Level 2 Significant Unobservable
9-30-14 Price Observable Inputs Inputs
Small Cap Index Trust        
Common Stocks
Consumer Discretionary $53,190,387 $53,190,387 — —
Consumer Staples 13,095,558 13,095,558 — —
Energy 22,202,773 22,202,773 — —
Financials 95,659,537 95,659,537 — —
Health Care 53,819,903 53,799,959 — $19,944
Industrials 55,932,406 55,932,406 — —
Information Technology 72,486,930 72,486,930 — —
Materials 20,042,346 20,042,346 — —
Telecommunication Services 3,159,755 3,123,911 — 35,844
Utilities 12,828,772 12,828,772 — —
Rights 1,410 1,410 — —
Warrants 2,838 — $2,838 —
Securities Lending Collateral 51,495,566 51,495,566 — —
Short-Term Investments 12,976,000 — 12,976,000 —
Total Investments in Securities $466,894,181 $453,859,555 $12,978,838 $55,788
Other Financial Instruments:
Futures ($888,281) ($888,281) — —

339


Level 3 Significant
Total Market Value at Level 1 Quoted Level 2 Significant Unobservable
9-30-14 Price Observable Inputs Inputs
Small Cap Opportunities Trust        
Common Stocks
Consumer Discretionary $30,921,136 $30,921,136 — —
Consumer Staples 5,494,164 5,494,164 — —
Energy 25,528,464 25,512,916 $15,548 —
Financials 60,989,245 60,988,524 — $721
Health Care 30,505,875 30,496,009 — 9,866
Industrials 46,967,761 46,967,657 — 104
Information Technology 48,143,048 48,143,048 — —
Materials 18,770,526 18,770,526 — —
Telecommunication Services 2,428,824 2,408,530 — 20,294
Utilities 3,186,169 3,186,169 — —
Warrants 507 — 507 —
Securities Lending Collateral 7,596,248 7,596,248 — —
Short-Term Investments 2,490,305 2,490,305 — —
Total Investments in Securities $283,022,272 $282,975,232 $16,055 $30,985

340


Level 3 Significant
Total Market Value at Level 1 Quoted Level 2 Significant Unobservable
9-30-14 Price Observable Inputs Inputs
Small Cap Value Trust        
Common Stocks
Consumer Discretionary $60,370,986 $60,370,986 — —
Consumer Staples 24,825,645 16,968,407 $7,857,238 —
Energy 37,440,941 37,440,941 — —
Financials 136,774,577 136,774,577 — —
Health Care 92,955,438 92,955,438 — —
Industrials 149,807,633 149,807,633 — —
Information Technology 81,405,996 81,405,996 — —
Materials 50,846,528 50,846,528 — —
Utilities 19,435,601 19,435,601 — —
Securities Lending Collateral 6,747,202 6,747,202 — —
Short-Term Investments 33,500,000 — 33,500,000 —
Total Investments in Securities $694,110,547 $652,753,309 $41,357,238 —
 
Level 3 Significant
Total Market Value at Level 1 Quoted Level 2 Significant Unobservable
9-30-14 Price Observable Inputs Inputs
Strategic Equity Allocation Trust        
Common Stocks
Consumer Discretionary $1,271,571,299 $921,038,863 $350,532,436 —
Consumer Staples 996,575,845 660,771,476 335,804,369 —
Energy 909,717,671 695,980,255 213,737,416 —
Financials 2,130,473,467 1,331,398,892 799,074,575 —
Health Care 1,384,338,497 1,034,647,303 349,672,286 $18,908
Industrials 1,238,516,785 850,065,792 388,450,993 —
Information Technology 1,632,847,650 1,487,552,879 145,294,771 —
Materials 541,846,365 303,029,240 238,817,125 —
Telecommunication Services 319,141,441 166,177,388 152,922,057 41,996
Utilities 365,043,362 244,134,645 120,908,717 —
Preferred Securities
Consumer Discretionary 12,123,216 — 12,123,216 —
Consumer Staples 4,263,626 — 4,263,626 —
Rights 213,883 213,883 — —
Warrants 56,831 53,919 2,912 —
Securities Lending Collateral 149,874,730 149,874,730 — —
Short-Term Investments 344,258,000 — 344,258,000 —
Total Investments in Securities $11,300,862,668 $7,844,939,265 $3,455,862,499 $60,904
Other Financial Instruments:
Futures ($10,260,996) ($10,260,996) — —

341


Level 3 Significant
Total Market Value at Level 1 Quoted Level 2 Significant Unobservable
9-30-14 Price Observable Inputs Inputs
Strategic Income Opportunities Trust        
Foreign Government Obligations $107,450,842 — $107,450,842 —
Corporate Bonds 207,288,908 — 207,288,908 —
Capital Preferred Securities 2,176,149 — 2,176,149 —
Convertible Bonds 6,568,152 — 6,568,152 —
Term Loans 67,392,966 — 65,802,966 $1,590,000
Collateralized Mortgage Obligations 28,574,981 — 28,227,211 347,770
Asset Backed Securities 4,837,892 — 4,837,892 —
Common Stocks 15,398,383 $15,398,383 — —
Preferred Securities 44,403,725 41,714,006 2,689,719 —
Escrow Certificates 12,381 — — 12,381
Purchased Options 1,409,394 — 1,409,394 —
Short-Term Investments 1,563,000 — 1,563,000 —
Total Investments in Securities $487,076,773 $57,112,389 $428,014,233 $1,950,151
Other Financial Instruments:
Futures $737,649 $737,649 — —
Forward Foreign Currency Contracts $9,311,115 — $9,311,115 —
 
Level 3 Significant
Total Market Value at Level 1 Quoted Level 2 Significant Unobservable
9-30-14 Price Observable Inputs Inputs
Total Return Trust        
U.S. Government & Agency Obligations $896,983,184 — $896,983,184 —
Foreign Government Obligations 394,092,671 — 394,092,671 —
Corporate Bonds 572,094,097 — 572,094,097 —
Capital Preferred Securities 4,946,750 — 4,946,750 —
Municipal Bonds 118,661,148 — 118,661,148 —
Term Loans 12,383,042 — 12,383,042 —
Collateralized Mortgage Obligations 160,971,605 — 160,971,605 —
Asset Backed Securities 77,514,669 — 77,514,669 —
Common Stocks 176 $176 — —
Preferred Securities 25,221,548 17,797,148 7,424,400 —
Commercial Paper 58,791,189 — 58,791,189 —
Short-Term Investments 216,184,227 — 216,184,227 —
Total Investments in Securities $2,537,844,306 $17,797,324 $2,520,046,982 —
Other Financial Instruments:
Futures ($6,031,940) ($6,031,940) — —
Forward Foreign Currency Contracts $25,351,452 — $25,351,452 —
Written Options ($1,950,427) — ($1,950,427) —
Interest Rate Swaps $6,763,413 — $6,763,413 —
Credit Default Swaps $272,908 — $272,908 —

342


Level 3 Significant
Total Market Value at Level 1 Quoted Level 2 Significant Unobservable
9-30-14 Price Observable Inputs Inputs
Total Stock Market Index Trust        
Common Stocks
Consumer Discretionary $73,354,101 $73,354,101 — —
Consumer Staples 49,508,590 49,508,590 — —
Energy 61,003,287 61,002,044 — $1,243
Financials 98,557,890 98,557,432 — 458
Health Care 71,535,555 71,531,003 — 4,552
Industrials 60,104,643 60,104,643 — —
Information Technology 106,761,282 106,761,282 — —
Materials 20,459,403 20,459,403 — —
Telecommunication Services 12,536,949 12,531,818 — 5,131
Utilities 15,885,255 15,885,255 — —
Corporate Bonds 2,664 — $2,664 —
Warrants 756 491 265 —
Securities Lending Collateral 15,088,970 15,088,970 — —
Short-Term Investments 3,569,000 — 3,569,000 —
Total Investments in Securities $588,368,345 $584,785,032 $3,571,929 $11,384
Other Financial Instruments:
Futures ($89,688) ($89,688) — —

343


Level 3 Significant
Total Market Value at Level 1 Quoted Level 2 Significant Unobservable
9-30-14 Price Observable Inputs Inputs
Utilities Trust        
Common Stocks
Consumer Discretionary $49,464,119 $44,395,831 $5,068,288 —
Energy 86,877,947 86,877,947 — —
Financials 8,844,664 8,844,664 — —
Industrials 1,700,995 1,700,995 — —
Telecommunication Services 65,019,972 24,338,980 40,680,992 —
Utilities 273,664,613 203,716,446 69,948,167 —
Preferred Securities
Financials 1,737,085 1,737,085 — —
Telecommunication Services 3,485,722 3,485,722 — —
Utilities 19,819,926 19,819,926 — —
Corporate Bonds 636,120 — 636,120 —
Convertible Bonds 4,143,636 — 4,143,636 —
Securities Lending Collateral 21,704,262 21,704,262 — —
Short-Term Investments 3,770,000 — 3,770,000 —
Total Investments in Securities $540,869,061 $416,621,858 $124,247,203 —
Other Financial Instruments:
Forward Foreign Currency Contracts $3,307,637 — $3,307,637 —
 
Level 3 Significant
Total Market Value at Level 1 Quoted Level 2 Significant Unobservable
9-30-14 Price Observable Inputs Inputs
Value Trust        
Common Stocks
Consumer Discretionary $64,579,548 $64,579,548 — —
Consumer Staples 22,057,570 22,057,570 — —
Energy 38,306,203 26,099,458 $12,206,745 —
Financials 172,767,319 172,767,319 — —
Health Care 71,953,031 71,953,031 — —
Industrials 114,713,079 114,713,079 — —
Information Technology 80,730,160 80,730,160 — —
Materials 34,220,135 34,220,135 — —
Telecommunication Services 16,838,984 16,838,984 — —
Utilities 20,701,862 20,701,862 — —
Short-Term Investments 14,204,328 14,204,328 — —
Total Investments in Securities $651,072,219 $638,865,474 $12,206,745 —

344


For the Emerging Markets Value Trust, International Equity Index Trust B, International Growth Stock Trust and Utilities Trust securities with market value of approximately $55,326,996, $13,374,204, $9,857,662 and $10,429,850, respectively, at the beginning of the year were transferred from Level 2 to Level 1 during the period since quoted prices in active markets for identical securities became available.

The following is a reconciliation of Level 3 assets for which significant unobservable inputs were used to determine fair value. Transfers into or out of Level 3 represent the beginning value of any security or instrument where a change in the level has occurred from the beginning to the end of the period. Securities were transferred into Level 3 because a lack of observable market data which resulted from an absence of market activity for these securities. In addition, securities were transferred from Level 3 since observable market data became available due to the increased market activity of these securities.

Financial Services Trust
Financials
Balance as of 12-31-13 $3,250,272
 
Accrued discounts/premiums -
 
Realized gain (loss) -
Changed in unrealized appreciation (depreciation) (378,583)
 
Purchases -
 
Sales -
 
Transfers into Level 3 -
 
Transfers out of Level 3 -
Balance as of 9-30-14 $2,871,689
Change in unrealized at period end* ($378,583)


345


High Yield Trust
Corporate Bonds Convertible Bonds Common Stocks Total
Balance as of 12-31-13 $710,862 - $3,571,785 $4,282,647
Realized gain (loss) - - - -
Change in unrealized appreciation (depreciation) (47,949) - (1,021,059) (1,069,008)
 
Purchases 167,631 $392,000 - 559,631
 
Sales - - - -
 
Transfers into Level 3 680,964 253,000 896,990 1,830,954
 
Transfers out of Level 3 - - - -
Balance as of 9-30-14 $1,511,508 $645,000 $3,447,716 $5,604,224
Change in unrealized at period end* ($47,949) - ($934,331) ($982,280)

Mid Cap Stock Trust
Common Stock Preferred Securities Total
Balance as of 12-31-13 - - -
Realized gain (loss) - - -
 
Changed in unrealized appreciation (depreciation) - (389,693) (389,693)
 
Purchases 772,269 42,460,293 43,232,562
Sales - - -
Transfers into Level 3 - - -
Transfers out of Level 3 - - -
 
Balance as of 9-30-14 772,269 42,070,600 42,842,869
 
Change in unrealized at period end* - (389,693) (389,693)

Science & Technology Trust
Consumer Staples Information Technology Total
Balance as of 12-31-13 $167,370 $8,163,248 $8,330,618
 
Realized gain (loss) - - -
 
Changed in unrealized appreciation (depreciation) - 977,988 977,988
 
Purchases - 983,689 983,689
 
Sales - (471,099) (471,099)
 
Transfers into Level 3 - - -
 
Transfers out of Level 3 (167,370) - (167,370)
         
Balance as of 9-30-14 - $9,653,826 $9,653,826
Change in unrealized at period end* $1,032,419 $1,032,419

346


Small Cap Growth Trust
Common Stocks Preferred Securities Total
Balance as of 12-31-13 $938,340 $3,746,058 $4,684,398
 
Realized gain (loss) - - -  
 
Changed in unrealized appreciation (depreciation) (303,654) 1,415,692 1,112,038  
 
Purchases - 7,552,543 7,552,543  
 
Sales - - -  
Transfers into Level 3 - - -  
 
Transfers out of Level 3 - (2,326,224) (2,326,224)  
Balance as of 9-30-14 $634,686 $10,388,069 $11,022,755  
Change in unrealized at period end* ($303,654) $1,415,692 $1,112,038  

*       Change in unrealized appreciation (depreciation) attributable to level 3 securities held at the period end.

The valuation techniques and significant amounts of unobservable inputs used in the fair value measurement of the funds’ Level 3 securities are outlined in the table below:

Financial Services Trust

Fair Value
at 9-30-14		 Valuation
Technique		 Unobservable Inputs Input/ Range
Common Stock $2,871,689 Market
Approach		 Book Value multiple/ Market
comparable companies
Discount for lack of
marketability		 1.30x
25%
 
Total  $2,871,689
 

347


High Yield Trust

Fair Value
at 9-30-14		 Valuation
Technique		 Unobservable Inputs Input/ Range
Common Stock $3,447,716 Market
Approach		 EV/EBITDA multiple
Discount for lack of marketability		 5.68x - 9.00x (weighted
average 6.76x)
10% - 17.5% (weighted
average 14.05%)
 
Convertible
Bonds		 $645,000 Market
Approach		 Prior / recent transactions $100.00
 
Corporate Bonds $1,511,508 Market
Approach		 Yield spread 408 bps - 756 bps (weighted
average 598 bps)
 
Total $5,604,224
 

Mid Cap Stock Trust

Fair Value
at 9-30-14		 Valuation
Technique		 Unobservable Inputs Input/ Range
Common Stock $772,269 Market
Approach		 Prior / recent transactions $27.06
 
Preferred Stock $1,519,013 Market
Approach		 EV to revenue multiple
Discount for lack of marketability		 6.86x
10%
4,431,440 Market
Approach		 EV to revenue multiple
Illiquidity discount
Allocated using OPM - Volatility		 1.40x
17.5%
40%
36,120,147 Market
Approach		 Prior / recent transactions $1.58 - $62.05 (weighted
average $24.43)
$42,070,600
 
Total $42,842,869
 

348


Science & Technology Trust

Fair Value
at 9-30-14		 Valuation
Technique		 Unobservable Inputs Input/ Range
Common Stock $122,107 Market
Approach		 EV to revenue multiple
Illiquidity discount		 8.37x
10%
6,654,157 Market
Approach		 Prior / recent transactions
Accrued Interest		 13.75
5.75%
674,624 Market
Approach		 Prior / recent transactions $16.00
7,450,888
 
Preferred Stock $590,705 Market
Approach		 Prior / recent transactions
Discount for lack of marketability		 $30.92
10%
1,612,233 Market
Approach		 EV to revenue multiple
Illiquidity discount		 8.37x
10%
$2,202,938
 
Total $9,653,826
 

349


Small Cap Growth Trust

Fair Value
at 9-30-14		 Valuation
Technique		 Unobservable Inputs Input/ Range
Common Stock $634,686 Market
Approach		 EV to revenue multiple
Illiquidity discount
Probability-weighted expected price
Implied discount rate at time of purchase		 3.45x
17.5%
$1.84
27%
 
Preferred Stock $721,148 Market
Approach		 EV to revenue multiple
Discount for lack of marketability		 6.86x
10%
1,857,678 Market
Approach		 EV to revenue multiple
Illiquidity discount
Probability-weighted expected price
Implied discount rate at time of purchase		 3.45x
17.5%
$3.96
27%
5,604,486 Market
Approach		 Prior / recent transactions $2.91 - $18.47 (weighted
average $16.65)
2,204,757 Market
Approach		 Prior / recent transactions
Discount for lack of marketability		 $30.92
10%
$10,388,069
 
Total $11,022,755
 

A change to unobservable inputs of the fund's Level 3 securities may result in changes to the fair value measurement, as follows :

Unobservable Input       Impact to Valuation
if input increases		       Impact to Valuation
if input decreases
Book value multiple / market comparable companies Increases Decreases
Enterprise values or earnings before interest, taxes,
depreciation and amortization (“EV/EBITDA”)
multiples		 Increases Decreases
Prior/recent transactions Increases Decreases
Yield spread Increases Decreases
Enterprise value (“EV”) to revenue multiple Increases Decreases
Probability - weighted expected price Increases Decreases
Option pricing method ("OPM") volatility Variable Variable
Discounts for lack of marketability Decreases Increases
Illiquidity discount Decreases Increases
Implied discount rate at time of purchase Decreases Increases

350


Repurchase agreements. The portfolios may enter into repurchase agreements. When a portfolio enters into a repurchase agreement, it receives collateral that is held in a segregated account by the portfolio’s custodian, or for tri-party repurchase agreements, collateral is held at a third-party custodian bank in a segregated account for the benefit of the portfolio. The collateral amount is marked-to-market and monitored on a daily basis to ensure that the collateral held is in an amount not less than the principal amount of the repurchase agreement plus any accrued interest. Collateral received by the portfolios for repurchase agreements is disclosed in the Portfolio of Investments as part of the caption related to the repurchase agreement.

Repurchase agreements are typically governed by the terms and conditions of the Master Repurchase Agreement and/or Global Master Repurchase Agreement (collectively, MRA). Upon an event of default, the non-defaulting party may close out all transactions traded under the MRA and net amounts owed. Absent an event of default, the MRA does not result in an offset of the net amounts owed. In the event of a default by the counterparty, realization of the collateral proceeds could be delayed, during which time the collateral value may decline or the counterparty may have insufficient assets to pay back claims resulting from close-out of the transactions.

When-issued/delayed delivery securities. The portfolios may purchase or sell debt securities on a when-issued or delayed-delivery basis, or in a “To Be Announced” (TBA) or “forward commitment” transaction, with delivery or payment to occur at a later date beyond the normal settlement period. TBA securities resulting from these transactions are included in the Portfolio of Investments or in a schedule to the Portfolio of Investments (Sale Commitments Outstanding). At the time a portfolio enters into a commitment to purchase or sell a security, the transaction is recorded and the value of the security is reflected in the portfolio’s net asset value. The price of such security and the date that the security will be delivered and paid for are fixed at the time the transaction is negotiated. The value of the security may vary with market fluctuations. No interest accrues to the portfolio until settlement takes place. The portfolio is required to have sufficient cash and/or liquid securities to cover its commitments.

Certain risks may arise upon entering into when-issued or delayed-delivery securities transactions, including the potential inability of counterparties to meet the terms of their contracts, and the issuer’s failure to issue the securities due to political, economic or other factors. Additionally, losses may arise due to declines in the value of the securities purchased or increase in the value of securities sold prior to settlement date.

Term loans (Floating rate loans). The portfolios may invest in term loans, which often include debt securities that are rated below investment grade at the time of purchase. Term loans are generally subject to legal or contractual restrictions on resale. The liquidity of term loans, including the volume and frequency of secondary market trading in such loans, varies significantly over time and among individual loans. During periods of infrequent trading, valuing a term loan can be more difficult and buying and selling a term loan at an acceptable price can be more difficult and delayed, which could result in a loss.

A portfolio’s ability to receive payments of principal, interest and other amounts in connection with term loans will depend primarily on the financial condition of the borrower. A portfolio’s failure to receive scheduled payments on a term loan due to a default, bankruptcy or other reason, would adversely affect the portfolio’s income and would likely reduce the value of its assets. Because many term loans are not rated by independent credit rating agencies, a decision to invest in a particular loan could depend exclusively on the subadvisor’s credit analysis of the borrower and/or term loan agents. A portfolio may have limited rights to enforce the terms of an underlying loan.

351


At September 30, 2014, Investment Quality Bond Trust and Strategic Income Opportunities Trust had $260,766 and $5,893,141, respectively, in unfunded loan commitments outstanding.

Inflation-indexed bonds. Inflation-indexed bonds are securities that generally have a lower coupon interest rate fixed at issuance but whose principal value is periodically adjusted to a rate of inflation, such as the Consumer Price Index. Over the life of an inflation-indexed bond, interest is paid on the inflation adjusted principal value as described above. Increases in the principal amount of these securities are recorded as interest income. Decreases in the principal amount of these securities may reduce interest income to the extent of income previously recorded. Excess amounts are recorded as an adjustment to cost.

Payment-in-kind bonds. The portfolios may invest in payment-in-kind bonds (PIK Bonds). PIK Bonds allow the issuer, at its option, to make current interest payments on the bonds either in cash or in additional bonds. The market prices of PIK Bonds are affected to a greater extent by interest rate changes and thereby tend to be more volatile than securities which pay cash interest periodically. The portfolio accrues income on these securities and this income is required to be distributed to shareholders. Because no cash is received at the time income accrues on these securities, the portfolio may need to sell other investments to make distributions.

Real estate investment trusts. The portfolios may invest in real estate investment trusts (REITs). Distributions from REITs may be recorded as income and subsequently characterized by the REIT at the end of the fiscal year as a reduction of cost of investments and/or as a realized gain. As a result, the portfolios will estimate the components of distributions from these securities. Such estimates are revised when the actual components of the distributions are known.

Stripped securities. Stripped securities are financial instruments structured to separate principal and interest cash flows so that one class receives principal payments from the underlying assets (PO or principal only), while the other class receives the interest cash flows (IO or interest only). Both PO and IO investments represent an interest in the cash flows of an underlying stripped security. If the underlying assets experience greater than anticipated prepayments of principal, the portfolio may fail to fully recover its initial investment in an IO security. The market value of these securities can be extremely volatile in response to changes in interest rates or prepayments on the underlying securities. In addition, these securities present additional credit risk such that the portfolios may not receive all or part of their principal or interest payments because the borrower or issuer has defaulted on its obligation.

352


Cost of investment securities for federal income tax purposes. The costs of investments owned on September 30, 2014, including short-term investments, for federal income tax purposes, were as follows:

Net Unrealized
Unrealized Unrealized Appreciation/
Portfolio Aggregate Cost Appreciation (Depreciation) (Depreciation)
500 Index B Trust $1,978,147,299 $1,309,621,645 ($24,065,932) $1,285,555,713
Active Bond Trust 820,065,557 45,436,743 (13,518,737) 31,918,006
All Cap Core Trust 348,892,593 27,537,821 (7,211,622) 20,326,199
Alpha Opportunities Trust 760,580,361 85,777,179 (27,835,998) 57,941,181
American Asset Allocation Trust 1,092,527,641 634,685,927 — 634,685,927
American Global Growth Trust 232,000,890 21,380,200 — 21,380,200
American Growth Trust 701,906,911 347,886,004 — 347,886,004
American Growth-Income Trust 861,686,162 408,994,122 — 408,994,122
American International Trust 534,317,984 95,714,836 — 95,714,836
American New World Trust 83,340,507 — (7,602,502) (7,602,502)
Blue Chip Growth Trust 1,077,460,707 697,073,223 (8,341,722) 688,731,501
Bond Trust 10,060,327,738 118,743,749 (100,105,550) 18,638,199
Bond PS Series 175,944,890 1,206,849 (1,234,446) (27,597)
Capital Appreciation Trust 765,801,720 332,926,536 (5,618,350) 327,308,186
Capital Appreciation Value Trust 315,232,362 42,585,333 (2,336,976) 40,248,357
Core Bond Trust 1,006,841,311 6,987,834 (3,415,956) 3,571,878
Core Strategy Trust 3,783,481,098 168,300,354 (13,100,322) 155,200,032
Emerging Markets Value Trust 935,808,430 171,227,411 (171,781,413) (554,002)
Equity-Income Trust 1,483,950,916 630,807,737 (43,847,264) 586,960,473
Financial Services Trust 166,759,528 7,208,883 (5,175,626) 2,033,257
Franklin Templeton Founding Allocation Trust 1,050,203,670 275,823,335 — 275,823,335
Fundamental All Cap Core Trust 1,277,446,402 374,780,087 (22,573,304) 352,206,783
Fundamental Large Cap Value Trust 1,063,685,128 167,552,678 (9,565,428) 157,987,250
Fundamental Value Trust 564,642,630 38,925,636 (14,615,567) 24,310,069
Global Trust 557,371,190 133,820,989 (41,555,985) 92,265,004
Global Bond Trust 892,221,850 15,860,307 (29,046,122) (13,185,815)
Health Sciences Trust 202,429,606 97,842,503 (3,718,580) 94,123,923
High Yield Trust 303,958,356 6,449,180 (17,562,304) (11,113,124)
Income Trust 404,767,955 75,498,173 (29,172,440) 46,325,733
International Core Trust 784,500,225 45,221,770 (48,501,193) (3,279,423)
International Equity Index Trust B 528,889,575 179,248,326 (45,144,326) 134,104,000
International Growth Stock Trust 430,666,499 87,911,201 (7,976,372) 79,934,829
International Small Company Trust 107,090,757 25,061,727 (19,697,984) 5,363,743
International Value Trust 1,029,196,225 163,461,315 (68,323,837) 95,137,478
Investment Quality Bond Trust 387,188,018 6,839,284 (2,954,553) 3,884,731
Lifestyle Aggressive MVP 415,419,248 54,140,429 (10,152,260) 43,988,169
Lifestyle Aggressive PS Series 21,425,645 282,291 (186) 282,105
Lifestyle Balanced MVP 9,313,827,757 1,061,779,340 (62,342,276) 999,437,064
Lifestyle Balanced PS Series 969,329,859 18,508,080 — 18,508,080
Lifestyle Conservative MVP 2,015,794,610 — (117,598,587) (117,598,587)
Lifestyle Conservative PS Series 192,607,479 1,979,905 — 1,979,905
Lifestyle Growth MVP 11,064,360,577 2,131,780,547 (45,049,137) 2,086,731,410
Lifestyle Growth PS Series 1,788,445,482 30,911,848 0 30,911,848
Lifestyle Moderate MVP 2,748,456,137 256,604,039 (17,347,023) 239,257,016

353


Lifestyle Moderate PS Series 323,841,926 5,641,134 — 5,641,134
Mid Cap Index Trust 578,253,979 303,455,800 (16,608,158) 286,847,642
Mid Cap Stock Trust 830,450,001 104,565,376 (23,652,047) 80,913,329
Mid Value Trust 784,315,672 185,212,859 (27,286,601) 157,926,258
Money Market Trust 2,228,018,857 — — —
Money Market Trust B 420,135,624 — — —
Mutual Shares Trust 496,302,789 153,116,450 (21,303,562) 131,812,888
Natural Resources Trust 146,080,384 4,376,925 (14,407,026) (10,030,101)
New Income Trust 1,656,368,721 41,203,439 (13,434,062) 27,769,377
Real Estate Securities Trust 390,160,342 17,328,955 (6,311,480) 11,017,475
Real Return Bond Trust 175,310,656 378,635 (7,436,887) (7,058,252)
Science and Technology Trust 426,454,160 74,233,591 (7,136,448) 67,097,143
Short Term Government Income Trust 382,283,399 1,180,743 (6,237,974) (5,057,231)
Small Cap Growth Trust 490,400,136 75,067,946 (17,026,955) 58,040,991
Small Cap Index Trust 363,175,047 124,883,967 (21,164,833) 103,719,134
Small Cap Opportunities Trust 251,170,145 45,656,664 (13,804,537) 31,852,127
Small Cap Value Trust 544,906,613 156,310,827 (7,106,893) 149,203,934
Small Company Growth Trust 110,731,121 35,521,787 (2,644,310) 32,877,477
Small Company Value Trust 262,124,229 114,857,183 (13,899,306) 100,957,877
Strategic Equity Allocation Trust 9,202,374,071 2,283,704,913 (185,216,316) 2,098,488,597
Strategic Income Opportunities Trust 483,872,117 20,193,002 (16,988,346) 3,204,656
Total Bond Market Trust B 482,260,189 21,601,997 (2,687,227) 18,914,770
Total Return Trust 2,533,128,881 61,574,445 (56,859,020) 4,715,425
Total Stock Market Index Trust 364,556,797 244,912,951 (21,101,403) 223,811,548
Ultra Short Term Bond Trust 269,369,376 132,489 (2,841,763) (2,709,274)
U.S. Equity Trust 711,562,883 133,473,552 (8,508,624) 124,964,928
Utilities Trust 489,916,004 64,192,539 (13,239,482) 50,953,057
Value Trust 549,448,926 118,970,006 (17,346,713) 101,623,293

Derivative instruments. The portfolios may invest in derivatives in order to meet their investment objectives. Derivatives include a variety of different instruments that may be traded in the OTC market, on a regulated exchange or through a clearing facility. The risks in using derivatives vary depending upon the structure of the instruments, including the use of leverage, optionality, the liquidity or lack of liquidity of the contract, the creditworthiness of the counterparty or clearing organization and the volatility of the position. Some derivatives involve risks that are potentially greater than the risks associated with investing directly in the referenced securities or other referenced underlying instrument. Specifically, the portfolios are exposed to the risk that the counterparty to an OTC derivatives contract will be unable or unwilling to make timely settlement payments or otherwise honor its obligations. OTC derivatives transactions typically can only be closed out with the other party to the transaction.

354


Futures. A futures contract is a contractual agreement to buy or sell a particular currency or financial instrument at a pre-determined price in the future. Risks related to the use of futures contracts include possible illiquidity of the futures markets and contract prices that can be highly volatile and imperfectly correlated to movements in the underlying financial instrument. Use of long futures contracts subjects the portfolios to the risk of loss up to the notional value of the futures contracts. Use of short futures contracts subjects the portfolios to unlimited risk of loss.

The following tables summarize the contracts held at September 30, 2014. In addition, the tables detail how the portfolios used futures contracts during the period ended September 30, 2014.

500 Index Trust B

The portfolio used futures contracts to gain exposure to certain securities markets and substitute for securities purchase (or to be purchased). The following table summarizes the contracts held at September 30, 2014.

Number Unrealized
of Expiration Notional Notional Appreciation
Portfolio        Open Contracts        Contracts        Position        Date        Basis        Value        (Depreciation)
 
500 Index Trust B S&P 500 Index Futures 213 Long Dec 2014 $105,861,096 $104,662,875 ($1,198,221)
  ($1,198,221)
Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

All Cap Core Trust

The portfolio used futures contracts to gain exposure to certain securities markets and substitute for securities purchase (or to be purchased). The following table summarizes the contracts held at September 30, 2014.

Number Unrealized
of Expiration Notional Notional Appreciation
Portfolio        Open Contracts        Contracts        Position        Date        Basis        Value        (Depreciation)
 
All Cap Core Trust Russell 2000 Mini Index Futures 1 Long Dec 2014 $114,122 $109,660 ($4,462)
S&P 500 Index E-Mini Futures 33 Long Dec 2014 3,259,583 3,243,074 (16,509)
($20,971)
Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

355


Global Bond Trust

The portfolio used futures contracts to gain exposure to foreign bond market, gain exposure to treasuries market, maintain diversity and liquidity of the portfolio, manage against anticipated interest rate changes, manage duration of the portfolio, and substitute for securities purchase (or to be purchased). The following table summarizes the contracts held at September 30, 2014.

Number Unrealized
of Expiration Notional Notional Appreciation
Portfolio      Open Contracts      Contracts      Position      Date      Basis      Value      (Depreciation)
 
Global Bond Trust 10-Year U.S. Treasury Note Futures 583 Long Dec 2014 $73,185,447 $72,665,486 ($519,961)
Euro-BTP Italian Government Bond Futures 314 Long Dec 2014 51,246,879 51,748,087 501,208
Eurodollar Futures 103 Long Sep 2015 25,538,950 25,538,850 (100)
  Eurodollar Futures 254 Long Mar 2016 62,658,871 62,620,525 (38,346)
U.K. Long Gilt Bond Futures 154 Long Dec 2014 28,265,021 28,246,207 (18,814)
U.S. Treasury Long Bond Futures 285 Long Dec 2014 39,711,899 39,303,281 (408,618)
10-Year Canada Government Bond Futures 221 Short Dec 2014 (26,897,936) (26,734,301) 163,635
3-Month Sterling Futures 376 Short Jun 2015 (75,402,560) (75,409,259) (6,699)
3-Month Sterling Futures 418 Short Sep 2015 (83,635,602) (83,663,224) (27,622)
Eurodollar Futures 373 Short Jun 2015 (92,699,463) (92,732,462) (32,999)
Eurodollar Futures 635 Short Dec 2015 (157,120,276) (156,995,812) 124,464
German Euro BUND Futures 416 Short Dec 2014 (78,146,731) (78,656,721) (509,990)
  ($773,842)
Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

High Yield Trust

The portfolio used futures contracts to manage duration of the portfolio. The following table summarizes the contracts held at September 30, 2014.

Number Unrealized
of Expiration Notional Notional Appreciation
Portfolio        Open Contracts        Contracts        Position        Date        Basis        Value        (Depreciation)
 
High Yield Trust 10-Year U.S. Treasury Note Futures 224 Short Dec 2014 ($28,099,053) ($27,919,500) $179,553
U.S. Treasury Long Bond Futures 4 Short Dec 2014 (554,964) (551,625) 3,339
$182,892
Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

356


International Equity Index Trust B

The portfolio used futures contracts to gain exposure to certain securities markets and substitute for securities purchase (or to be purchased). The following table summarizes the contracts held at September 30, 2014.

Number Unrealized
of Expiration Notional Notional Appreciation
Portfolio    Open Contracts    Contracts    Position    Date    Basis    Value    (Depreciation)
 
International Equity Index Trust B Mini MSCI EAFE Index Futures 102 Long Dec 2014 $9,637,527 $9,382,469 ($255,058)
  Mini MSCI Emerging Markets Index Futures 103 Long Dec 2014 5,491,005 5,163,905 (327,100)
MSCI Taiwan Index Futures 108 Long Oct 2014 3,575,564 3,498,120 (77,444)
($659,602)
Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

Investment Quality Bond Trust

The portfolio used futures contracts to gain exposure to foreign bond market, gain exposure to treasuries market, manage against anticipated interest rate changes, manage duration of the portfolio, and substitute for securities purchase (or to be purchased). The following table summarizes the contracts held at September 30, 2014.

Number Unrealized
of Expiration Notional Notional Appreciation
Portfolio      Open Contracts      Contracts      Position      Date      Basis      Value      (Depreciation)
 
Investment Quality Bond Trust 5-Year U.S. Treasury Note Futures 555 Long Dec 2014 $65,607,510 $65,633,086 $25,576
U.S. Treasury Long Bond Futures 33 Long Dec 2014 4,590,406 4,550,906 (39,500)
  U.S. Treasury Ultra Bond Futures 40 Long Dec 2014 5,999,343 6,100,000 100,657
2-Year U.S. Treasury Note Futures 13 Short Dec 2014 (2,843,299) (2,844,969) (1,670)
10-Year U.S. Treasury Note Futures 442 Short Dec 2014 (54,881,650) (55,091,156) (209,506)
($124,443)
Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

357


Lifestyle Balanced MVP

The portfolio used futures contracts to manage the volatility of returns. The following table summarizes the contracts held at September 30, 2014.

Number Unrealized
of Expiration Notional Notional Appreciation
Portfolio      Open Contracts      Contracts      Position      Date      Basis      Value       (Depreciation)
 
Lifestyle Balanced MVP Euro FX Futures 217 Long Dec 2014 $35,181,770 $34,272,438 ($909,332)
Euro STOXX 50 Index Futures 843 Long Dec 2014 34,286,352 34,316,942 30,590
FTSE 100 Index Futures 438 Long Dec 2014 47,983,334 46,903,263 (1,080,071)
Japanese Yen Currency Futures 248 Long Dec 2014 29,528,237 28,272,000 (1,256,237)
Mini MSCI Emerging Markets Index Futures 1,071 Long Dec 2014 57,584,757 53,694,586 (3,890,171)
  Nikkei 225 Futures 197 Long Dec 2014 28,116,889 29,062,776 945,887
Pound Sterling Currency Futures 483 Long Dec 2014 49,258,378 48,876,581 (381,797)
Russell 2000 Mini Index Futures 283 Long Dec 2014 32,804,655 31,033,780 (1,770,875)
S&P 500 Index E-Mini Futures 1,943 Long Dec 2014 193,055,742 190,948,325 (2,107,417)
S&P Mid 400 Index E-Mini Futures 485 Long Dec 2014 69,089,278 66,221,900 (2,867,378)
($13,286,801)
Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

358


Lifestyle Conservative MVP

The portfolio used futures contracts to manage the volatility of returns. The following table summarizes the contracts held at September 30, 2014.

Number Unrealized
of Expiration Notional Notional Appreciation
Portfolio      Open Contracts      Contracts      Position      Date      Basis      Value      (Depreciation)
 
Lifestyle Conservative MVP Euro FX Futures 30 Long Dec 2014 $4,847,152 $4,738,125 ($109,027)
Euro STOXX 50 Index Futures 120 Long Dec 2014 4,874,636 4,884,974 10,338
FTSE 100 Index Futures 53 Long Dec 2014 5,781,806 5,675,509 (106,297)
Japanese Yen Currency Futures 38 Long Dec 2014 4,480,063 4,332,000 (148,063)
Mini MSCI Emerging Markets Index Futures 131 Long Dec 2014 6,942,650 6,567,686 (374,964)
Nikkei 225 Futures 29 Long Dec 2014 4,169,532 4,278,277 108,745
Pound Sterling Currency Futures 56 Long Dec 2014 5,705,661 5,666,850 (38,811)
      Russell 2000 Mini Index Futures     40     Long     Dec 2014     4,592,019     4,386,400     (205,619)
  S&P 500 Index E-Mini Futures 149 Long Dec 2014 14,785,587 14,642,975 (142,612)
S&P Mid 400 Index E-Mini Futures 42 Long Dec 2014 5,942,413 5,734,680 (207,733)
                            ($1,214,043)
Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

Lifestyle Growth MVP

The portfolio used futures contracts to manage the volatility of returns. The following table summarizes the contracts held at September 30, 2014.

Number Unrealized
of Expiration Notional Notional Appreciation
Portfolio Open Contracts Contracts Position Date Basis Value (Depreciation)
 
Lifestyle Growth MVP     Euro FX Futures     385     Long     Dec 2014     $62,419,269     $60,805,938     ($1,613,331)
Euro STOXX 50 Index Futures 1,569 Long Dec 2014 63,814,100 63,871,035 56,935
FTSE 100 Index Futures 814 Long Dec 2014 89,174,506 87,167,251 (2,007,255)
  Japanese Yen Currency Futures 419 Long Dec 2014 49,888,432 47,766,000 (2,122,432)
Mini MSCI Emerging Markets Index Futures 1,716 Long Dec 2014 92,264,652 86,031,660 (6,232,992)
Nikkei 225 Futures 341 Long Dec 2014 48,669,336 50,306,633 1,637,297
Pound Sterling Currency Futures 875 Long Dec 2014 89,236,192 88,544,531 (691,661)
Russell 2000 Mini Index Futures 594 Long Dec 2014 68,855,001 65,138,040 (3,716,961)
S&P 500 Index E-Mini Futures 4,131 Long Dec 2014 410,454,590 405,974,025 (4,480,565)
S&P Mid 400 Index E-Mini Futures 947 Long Dec 2014 134,902,158 129,303,380 (5,598,778)
($24,769,743)
Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

359


Lifestyle Moderate MVP

The portfolio used futures contracts to manage the volatility of returns. The following table summarizes the contracts held at September 30, 2014.

Number Unrealized
of Expiration Notional Notional Appreciation
Portfolio     Open Contracts     Contracts     Position     Date     Basis     Value     (Depreciation)
 
Lifestyle Moderate MVP Euro FX Futures 74 Long Dec 2014 $11,997,470 $11,687,375 ($310,095)
Euro STOXX 50 Index Futures 294 Long Dec 2014 11,957,517 11,968,186 10,669
FTSE 100 Index Futures 139 Long Dec 2014 15,227,587 14,884,825 (342,762)
Japanese Yen Currency Futures 79 Long Dec 2014 9,406,172 9,006,000 (400,172)
Mini MSCI Emerging Markets Index Futures 209 Long Dec 2014 11,237,362 10,478,216 (759,146)
Nikkei 225 Futures 64 Long Dec 2014 9,134,421 9,441,714 307,293
Pound Sterling Currency Futures 152 Long Dec 2014 15,501,601 15,381,450 (120,151)
Russell 2000 Mini Index Futures 113 Long Dec 2014 13,098,679 12,391,580 (707,099)
S&P 500 Index E-Mini Futures 524 Long Dec 2014 52,064,441 51,496,100 (568,341)
S&P Mid 400 Index E-Mini Futures 130 Long Dec 2014 18,518,776 17,750,200 (768,576)
($3,658,380)
Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

360


Mid Cap Index Trust

The portfolio used futures contracts to gain exposure to certain securities markets and substitute for securities purchase (or to be purchased). The following table summarizes the contracts held at September 30, 2014.

Number Unrealized
of Expiration Notional Notional Appreciation
Portfolio     Open Contracts     Contracts     Position     Date     Basis     Value     (Depreciation)
 
Mid Cap Index Trust S&P Mid 400 Index E-Mini Futures 126 Long Dec 2014 $18,007,546 $17,204,040 ($803,506)
($803,506)
Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

New Income Trust

The portfolio used futures contracts to gain exposure to treasuries market and to manage duration of the portfolio. The following table summarizes the contracts held at September 30, 2014.

Number Unrealized
of Expiration Notional Notional Appreciation
Portfolio     Open Contracts     Contracts     Position     Date     Basis     Value     (Depreciation)
 
New Income Trust 10-Year U.S. Treasury Note Futures 64 Short Dec 2014 ($7,942,866) ($7,977,000) ($34,134)
U.S. Treasury Long Bond Futures 141 Short Dec 2014 (19,483,152) (19,444,782) 38,370
$4,236
Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

Real Return Bond Trust

The portfolio used futures contracts to gain exposure to treasuries market, manage duration of the portfolio, and substitute for securities purchase (or to be purchased). The following table summarizes the contracts held at September 30, 2014.

Number Unrealized
of Expiration Notional Notional Appreciation
Portfolio     Open Contracts     Contracts     Position     Date     Basis     Value     (Depreciation)
 
Real Return Bond Trust 5-Year U.S. Treasury Note Futures 57 Long Dec 2014 $6,756,345 $6,740,695 ($15,650)
Eurodollar Futures 3 Long Mar 2016 740,177 739,612 (565)
German Euro BUND Futures 20 Short Dec 2014 (3,768,296) (3,781,573) (13,277)
($29,942)
Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

361


Short Term Government Income Trust

The portfolio used futures contracts to manage duration of the portfolio. The following table summarizes the contracts held at September 30, 2014.

Number Unrealized
of Expiration Notional Notional Appreciation
Portfolio    Open Contracts    Contracts    Position    Date    Basis    Value    (Depreciation)
 
Short Term Government Income Trust 5-Year U.S. Treasury Note Futures 355 Short Dec 2014 ($42,091,762) ($41,981,524) $110,238
$110,238
Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

Small Cap Index Trust

The portfolio used futures contracts to gain exposure to certain securities markets and substitute for securities purchase (or to be purchased). The following table summarizes the contracts held at September 30, 2014.

Number Unrealized
of Expiration Notional Notional Appreciation
Portfolio     Open Contracts     Contracts     Position     Date     Basis     Value     (Depreciation)
 
Small Cap Index Trust Russell 2000 Mini Index Futures 132 Long Dec 2014 $15,363,401 $14,475,120 ($888,281)
($888,281)
Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

Strategic Equity Allocation Trust

The portfolio used futures contracts to gain exposure to certain securities markets and substitute for securities purchase (or to be purchased). The following table summarizes the contracts held at September 30, 2014.

362


Number Unrealized
of Expiration Notional Notional Appreciation
Portfolio     Open Contracts     Contracts     Position     Date     Basis     Value     (Depreciation)
 
Strategic Equity Allocation Trust Mini MSCI EAFE Index Futures 1,944 Long Dec 2014 $183,987,719 $178,818,841 ($5,168,878)
Russell 2000 Mini Index Futures 161 Long Dec 2014 18,789,533 17,655,260 (1,134,273)
S&P 500 Index Futures 344 Long Dec 2014 171,474,483 169,033,000 (2,441,483)
S&P Mid 400 Index E-Mini Futures 231 Long Dec 2014 33,057,102 31,540,740 (1,516,362)
($10,260,996)
Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

Strategic Income Opportunities Trust

The portfolio used futures contracts to manage duration of the portfolio. The following table summarizes the contracts held at September 30, 2014.

Number Unrealized
of Expiration Notional Notional Appreciation
Portfolio    Open Contracts    Contracts    Position    Date    Basis    Value    (Depreciation)
 
Strategic Income Opportunities Trust 5-Year U.S. Treasury Note Futures 252 Short Dec 2014 ($29,877,153) ($29,800,969) $76,184
10-Year U.S. Treasury Note Futures 752 Short Dec 2014 (94,327,218) (93,729,750) 597,468
U.S. Treasury Long Bond Futures 54 Short Dec 2014 (7,510,935) (7,446,938) 63,997
$737,649
Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

363


Total Return Trust

The portfolio used futures contracts to gain exposure to certain bond markets, manage against anticipated interest rate changes, manage duration of the portfolio, and substitute for securities purchase (or to be purchased). The following table summarizes the contracts held at September 30, 2014.

Number Unrealized
of Expiration Notional Notional Appreciation
Portfolio     Open Contracts     Contracts     Position     Date     Basis     Value     (Depreciation)
 
Total Return Trust 10-Year U.S. Treasury Note Futures 5,446 Long Dec 2014 $683,212,822 $678,792,844 ($4,419,978)
Eurodollar Futures 112 Long Dec 2015 27,685,109 27,690,600 5,491
    Eurodollar Futures     2,252     Long     Mar 2016     556,028,327     555,202,450     (825,877)
Eurodollar Futures 425 Long Jun 2016 104,628,224 104,480,938 (147,286)
Eurodollar Futures 1,019 Long Sep 2016 250,125,981 249,807,850 (318,131)
Eurodollar Futures 377 Long Dec 2016 92,296,779 92,171,788 (124,991)
  Eurodollar Futures 12 Long Jun 2017 2,927,005 2,921,550 (5,455)
U.S. Treasury Long Bond Futures 120 Long Dec 2014 16,744,463 16,548,750 (195,713)
($6,031,940)
Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

Total Stock Market Index Trust

The portfolio used futures contracts to gain exposure to certain securities markets and substitute for securities purchase (or to be purchased). The following table summarizes the contracts held at September 30, 2014.

Number Unrealized
of Expiration Notional Notional Appreciation
Portfolio     Open Contracts     Contracts     Position     Date     Basis     Value     (Depreciation)
 
Total Stock Market Index Trust Russell 2000 Mini Index Futures 6 Long Dec 2014 $689,194 $657,960 ($31,234)
S&P 500 Index Futures 9 Long Dec 2014 4,471,876 4,422,375 (49,501)
S&P Mid 400 Index E-Mini Futures 2 Long Dec 2014 282,033 273,080 (8,953)
($89,688)
Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

Forward foreign currency contracts. A forward foreign currency contract is an agreement between two parties to buy and sell specific currencies at a price that is set on the date of the contract. The forward contract calls for delivery of the currencies on a future date that is specified in the contract. Risks related to the use of forwards include the possible failure of counterparties to meet the terms of the forward agreement, the failure of the counterparties to timely post collateral if applicable, and the risk that currency movements will not occur thereby reducing the portfolio’s total return.

The market value of a forward foreign currency contract fluctuates with changes in foreign currency exchange rates. Forward foreign currency contracts are marked-to-market daily and the change in value is recorded by the portfolio as an unrealized gain or loss. Realized gains or losses, equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed, are recorded upon delivery or receipt of the currency or settlement with the counterparty.

364


The following tables summarize the contracts held at September 30, 2014. In addition, the tables detail how the portfolios used forward foreign currency contracts during the period ended September 30, 2014.

Global Bond Trust

The portfolio used forward foreign currency contracts to manage against anticipated changes in currency exchange rates, gain exposure to foreign currencies and to maintain diversity and liquidity of the portfolio. The following table summarizes the contracts held at September 30, 2014.

Contractual Net Unrealized
Settlement Unrealized Unrealized Appreciation/
Portfolio Contract to Buy Contract to Sell Counterparty Date Appreciation Depreciation (Depreciation)
Global Bond Trust    AUD    43,003,664     USD    38,183,284     Bank of America, N.A.    10/2/2014    -    ($531,419)    ($531,419)
AUD 12,226,000 USD 11,156,563 HSBC Bank USA 10/2/2014 - (452,087) (452,087)
AUD 6,868,000 USD 6,363,021 JPMorgan Chase Bank N.A. 10/2/2014 - (349,742) (349,742)
  BRL 10,189,853 USD 4,160,446 Bank of America, N.A. 10/2/2014 $2,500 - 2,500
BRL 19,039,248 USD 8,214,295 BNP Paribas SA 10/2/2014 - (436,030) (436,030)
BRL 31,854,121 USD 13,031,837 Citibank N.A. 10/2/2014 - (18,204) (18,204)
BRL 15,974,579 USD 6,946,000 Credit Suisse International 10/2/2014 - (419,770) (419,770)
BRL 9,903,677 USD 4,319,000 Deutsche Bank AG London 10/2/2014 - (272,967) (272,967)
BRL 13,333,706 USD 5,620,687 Goldman Sachs Capital Markets LP 10/2/2014 - (173,356) (173,356)
BRL 100,432 USD 44,306 HSBC Bank USA 10/2/2014 - (3,275) (3,275)
BRL 16,536,494 USD 7,306,709 JPMorgan Chase Bank 10/2/2014 - (550,916) (550,916)
BRL 4,106,014 USD 1,786,000 Royal Bank of Canada 10/2/2014 - (108,535) (108,535)
BRL 26,928,126 USD 11,809,116 UBS AG 10/2/2014 - (807,940) (807,940)
BRL 4,118,730 USD 1,685,000 Credit Suisse International 11/4/2014 - (17,057) (17,057)
BRL 25,317,326 USD 10,677,911 UBS AG 11/4/2014 - (425,269) (425,269)
BRL 27,800,000 USD 11,296,221 Goldman Sachs Capital Markets LP 1/5/2015 - (222,465) (222,465)
BRL 12,400,000 USD 5,176,372 UBS AG 1/5/2015 - (236,999) (236,999)
CAD 2,354,000 USD 2,103,149 Bank of America, N.A. 10/16/2014 - (2,003) (2,003)
CAD 4,822,547 USD 4,355,042 Goldman Sachs Capital Markets LP 10/16/2014 - (50,507) (50,507)
CHF 6,349,000 USD 6,716,942 Barclays Bank PLC Wholesale 11/13/2014 - (63,984) (63,984)
CHF 11,122,000 USD 11,890,280 Citibank N.A. 11/13/2014 - (235,815) (235,815)
CHF 1,444,000 USD 1,594,928 Goldman Sachs Capital Markets LP 11/13/2014 - (81,797) (81,797)
CHF 9,041,000 USD 9,683,528 JPMorgan Chase Bank N.A. 11/13/2014 - (209,692) (209,692)
CNY 4,482,200 USD 730,000 Bank of America, N.A. 9/8/2015 - (14,344) (14,344)
CNY 8,950,800 USD 1,468,946 Barclays Capital 9/8/2015 - (39,806) (39,806)
CNY 32,283,693 USD 5,336,196 Citibank N.A. 9/8/2015 - (181,581) (181,581)
CNY 6,380,000 USD 1,055,680 JPMorgan Chase Bank 9/8/2015 - (37,009) (37,009)
CNY 4,368,300 USD 710,000 Morgan Stanley Bank, N.A. 9/8/2015 - (12,530) (12,530)

365


     DKK      26,987,000      USD      4,858,329      Citibank N.A.      11/13/2014      -      (278,200)      (278,200)
EUR 18,277,000 USD 23,787,528 Bank of America,
N.A.		 11/20/2014 - (695,186) (695,186)
EUR 22,556,000 USD 29,763,533 Barclays Bank PLC
Wholesale		 11/20/2014 - (1,264,826) (1,264,826)
EUR 8,843,000 USD 11,514,117 BNP Paribas SA 11/20/2014 - (341,299) (341,299)
EUR 6,492,000 USD 8,629,400 Citibank N.A. 11/20/2014 - (426,988) (426,988)
EUR 37,015,000 USD 47,896,522 Deutsche Bank
AG London		 11/20/2014 - (1,129,380) (1,129,380)
EUR 8,955,000 USD 11,287,022 Goldman Sachs
Capital Markets LP		 11/20/2014 27,304 - 27,304
EUR 4,591,000 USD 6,130,530 JPMorgan Chase
Bank N.A.		 11/20/2014 - (329,964) (329,964)
GBP 3,187,000 USD 5,212,144 Bank of America,
N.A.		 10/2/2014 - (45,538) (45,538)
GBP 4,283,000 USD 6,997,557 JPMorgan Chase
Bank N.A.		 10/2/2014 - (54,171) (54,171)
INR 1,286,873,347 USD 21,153,503 Deutsche Bank
AG London		 10/15/2014 - (370,881) (370,881)
INR 86,668,560 USD 1,412,000 UBS AG 10/15/2014 - (12,329) (12,329)
INR 792,809,257 USD 12,694,698 Citibank N.A. 1/20/2015 - (150,133) (150,133)
  JPY 980,700,000 USD 9,173,625 Deutsche Bank
AG London		 10/2/2014 - (231,752) (231,752)
JPY 9,958,856,810 USD 95,667,630 Goldman Sachs
Capital Markets LP		 10/2/2014 - (4,864,286) (4,864,286)
JPY 2,029,400,000 USD 19,223,317 HSBC Bank USA 10/2/2014 - (719,556) (719,556)
JPY 4,546,500,000 USD 42,610,433 JPMorgan Chase
Bank N.A.		 10/2/2014 - (1,156,136) (1,156,136)
JPY 2,095,800,000 USD 19,104,831 Barclays Bank
PLC Wholesale		 11/4/2014 8,764 - 8,764
JPY 9,048,650,518 USD 83,149,402 JPMorgan Chase
Bank N.A.		 11/4/2014 - (626,144) (626,144)
MXN 38,509,799 USD 2,877,000 BNP Paribas SA 12/18/2014 - (23,662) (23,662)
MXN 2,308,858 USD 173,000 Citibank N.A. 12/18/2014 - (1,928) (1,928)
MXN 77,672,100 USD 5,805,000 Goldman Sachs
Capital Markets LP		 12/18/2014 - (49,978) (49,978)
MXN 1,495,558 USD 112,000 HSBC Bank USA 12/18/2014 - (1,188) (1,188)
MXN 11,724,000 USD 896,941 JPMorgan Chase
Bank N.A.		 12/18/2014 - (28,265) (28,265)
MYR 21,871,850 USD 6,876,000 Barclays Capital 10/15/2014 - (214,544) (214,544)
MYR 3,263,488 USD 1,024,000 Credit Suisse
International		 10/15/2014 - (30,047) (30,047)
MYR 13,831,337 USD 4,312,634 HSBC Bank USA 10/15/2014 - (100,057) (100,057)
MYR 30,907,729 USD 9,777,000 JPMorgan Chase
Bank		 10/15/2014 - (363,508) (363,508)
MYR 69,874,406 USD 21,358,522 UBS AG 1/20/2015 - (208,814) (208,814)
NZD 22,757,000 USD 17,987,171 Barclays Bank
PLC Wholesale		 10/2/2014 - (221,922) (221,922)
SEK 23,758,000 USD 3,435,228 Barclays Bank
PLC Wholesale		 11/13/2014 - (143,271) (143,271)
USD 1,485,580 AUD 1,657,000 Deutsche Bank
AG London		 10/2/2014 34,793 - 34,793
USD 1,546,543 AUD 1,658,000 Goldman Sachs
Capital Markets LP		 10/2/2014 94,880 - 94,880
USD 53,636,203 AUD 58,782,664 JPMorgan Chase
Bank N.A.		 10/2/2014 2,169,032 - 2,169,032
USD 38,092,731 AUD 43,003,664 Bank of America,
N.A.		 11/4/2014 528,703 - 528,703
USD 2,439,083 AUD 2,778,000 Goldman Sachs
Capital Markets LP		 11/4/2014 12,478 - 12,478
USD 4,423,831 BRL 10,189,852 Bank of America,
N.A.		 10/2/2014 260,884 - 260,884
USD 7,979,850 BRL 19,039,247 BNP Paribas SA 10/2/2014 201,585 - 201,585
USD 13,770,759 BRL 31,854,121 Citibank N.A. 10/2/2014 757,127 - 757,127
USD 6,719,159 BRL 15,974,579 Credit Suisse
International		 10/2/2014 192,929 - 192,929

366


     USD      4,040,668      BRL      9,903,677      Deutsche Bank
AG London		      10/2/2014      -      (5,365)      (5,365)
USD 5,756,286 BRL 13,333,707 Goldman Sachs
Capital Markets LP		 10/2/2014 308,954 - 308,954
USD 40,976 BRL 100,432 HSBC Bank USA 10/2/2014 - (54) (54)
USD 6,819,854 BRL 16,536,495 JPMorgan Chase
Bank		 10/2/2014 64,060 - 64,060
USD 1,675,240 BRL 4,106,014 Royal Bank
of Canada		 10/2/2014 - (2,224) (2,224)
USD 11,430,531 BRL 26,928,126 UBS AG 10/2/2014 429,356 - 429,356
USD 1,951,000 BRL 4,767,659 Goldman Sachs
Capital Markets LP		 11/4/2014 20,263 - 20,263
USD 14,477,324 BRL 34,226,444 Citibank N.A. 1/5/2015 843,681 - 843,681
USD 6,946,000 BRL 16,371,118 Credit Suisse
International		 1/5/2015 424,786 - 424,786
USD 5,388,354 BRL 13,025,808 HSBC Bank USA 1/5/2015 199,699 - 199,699
USD 38,449,428 BRL 90,196,688 JPMorgan Chase
Bank		 1/5/2015 2,520,791 - 2,520,791
USD 3,317,000 BRL 7,703,401 UBS AG 1/5/2015 248,454 - 248,454
USD 3,285,096 BRL 7,950,589 Barclays Capital 4/2/2015 189,253 - 189,253
USD 11,401,820 BRL 30,200,000 Goldman Sachs
Capital Markets LP		 10/2/2015 202,324 - 202,324
USD 5,237,227 BRL 13,500,000 UBS AG 10/2/2015 230,830 - 230,830
USD 4,620,511 CAD 5,022,269 Barclays Bank
PLC Wholesale		 10/2/2014 136,246 - 136,246
USD 2,875,369 CAD 3,153,000 BNP Paribas SA 10/16/2014 61,047 - 61,047
USD 273,612 CAD 303,000 HSBC Bank USA 10/16/2014 3,158 - 3,158
USD 13,517,404 CAD 14,818,000 JPMorgan Chase
Bank N.A.		 10/16/2014 291,073 - 291,073
USD 18,876,393 CHF 17,646,000 Barclays Bank
PLC Wholesale		 11/13/2014 385,593 - 385,593
USD 1,073,262 CHF 970,000 BNP Paribas SA 11/13/2014 56,823 - 56,823
USD 449,645 CHF 407,000 HSBC Bank USA 11/13/2014 23,160 - 23,160
USD 13,545,500 CHF 12,573,000 JPMorgan Chase
Bank N.A.		 11/13/2014 370,569 - 370,569
USD 9,295,736 CHF 8,398,000 UBS AG 11/13/2014 495,682 - 495,682
USD 8,482,831 CNY 52,576,587 UBS AG 10/15/2014 - (74,857) (74,857)
USD 68,166,571 EUR 50,877,000 Bank of America,
N.A.		 11/20/2014 3,885,283 - 3,885,283
USD 18,118,563 EUR 13,985,000 Barclays Bank
PLC Wholesale		 11/20/2014 449,011 - 449,011
USD 54,044,456 EUR 41,680,000 BNP Paribas SA 11/20/2014 1,383,252 - 1,383,252
USD 87,800,888 EUR 67,071,000 Citibank N.A. 11/20/2014 3,059,054 - 3,059,054
USD 3,503,882 EUR 2,706,798 Goldman Sachs
Capital Markets LP		 11/20/2014 83,939 - 83,939
USD 15,102,795 EUR 11,453,000 HSBC Bank USA 11/20/2014 632,334 - 632,334
USD 1,209,356 EUR 934,000 JPMorgan Chase
Bank N.A.		 11/20/2014 29,280 - 29,280
USD 8,124,200 GBP 4,900,000 Bank of America,
N.A.		 10/2/2014 180,564 - 180,564
USD 1,185,798 GBP 720,000 Citibank N.A. 10/2/2014 18,570 - 18,570
USD 2,323,421 GBP 1,431,000 HSBC Bank
USA		 10/2/2014 3,555 - 3,555
USD 689,995 GBP 419,000 JPMorgan Chase
Bank N.A.		 10/2/2014 10,733 - 10,733
USD 5,210,745 GBP 3,187,000 Bank of America,
N.A.		 11/4/2014 45,620 - 45,620
USD 5,200,438 GBP 3,190,000 Goldman Sachs
Capital Markets LP		 11/4/2014 30,451 - 30,451
USD 2,587,423 GBP 1,586,000 JPMorgan Chase
Bank N.A.		 11/4/2014 17,016 - 17,016
USD 3,215,000 INR 196,179,300 Barclays Capital 10/15/2014 46,763 - 46,763

367


     USD      12,901,697      INR      792,809,257      Citibank N.A.      10/15/2014      98,063      -      98,063
USD 6,280,332 INR 384,553,350 JPMorgan
Chase Bank		 10/15/2014 69,909 - 69,909
USD 20,390,859 JPY 2,189,600,000 BNP Paribas
SA		 10/2/2014 426,419 - 426,419
USD 57,474,863 JPY 6,170,400,000 Deutsche Bank
AG London		 10/2/2014 1,214,093 - 1,214,093
USD 983,000 JPY 106,806,292 Goldman Sachs
Capital Markets LP		 10/2/2014 9,156 - 9,156
USD 83,129,541 JPY 9,048,650,518 JPMorgan Chase
Bank N.A.		 10/2/2014 625,319 - 625,319
USD 5,041,397 JPY 549,300,000 BNP Paribas
SA		 11/4/2014 31,807 - 31,807
USD 8,324,063 MXN 109,494,728 BNP Paribas
SA		 10/22/2014 181,602 - 181,602
USD 2,568,838 MXN 33,751,969 Goldman Sachs
Capital Markets LP		 10/22/2014 58,909 - 58,909
USD 5,932,482 MXN 77,946,887 Royal Bank
of Canada		 12/11/2014 154,684 - 154,684
USD 1,536,000 MXN 20,118,907 Bank of America,
N.A.		 12/18/2014 45,313 - 45,313
USD 265,833 MXN 3,585,000 Barclays Bank
PLC Wholesale		 12/18/2014 207 - 207
USD 23,912,227 MXN 318,265,351 BNP Paribas SA 12/18/2014 330,734 - 330,734
USD 3,143,208 MXN 41,330,044 Deutsche Bank
AG London		 12/18/2014 80,908 - 80,908
USD 3,085,000 MXN 40,699,222 Goldman Sachs
Capital Markets LP		 12/18/2014 69,439 - 69,439
USD 531,000 MXN 7,012,067 JPMorgan Chase
Bank N.A.		 12/18/2014 11,449 - 11,449
USD 2,828,000 MXN 37,740,226 UBS AG 12/18/2014 31,683 - 31,683
USD 1,620,691 MXN 21,415,000 Royal Bank
of Canada		 2/5/2015 39,124 - 39,124
USD 21,489,899 MYR 69,874,406 UBS AG 10/15/2014 208,421 - 208,421
USD 18,911,675 NZD 22,757,000 Barclays Bank
PLC Wholesale		 10/2/2014 1,146,425 - 1,146,425
USD 17,928,950 NZD 22,757,000 Barclays Bank
PLC Wholesale		 11/4/2014 222,120 - 222,120
USD 475,000 SEK 3,373,358 Citibank N.A. 11/13/2014 7,581 - 7,581
USD 1,161,000 ZAR 12,380,904 Goldman Sachs
Capital Markets LP		 10/15/2014 65,964 - 65,964
USD 992,000 ZAR 10,793,456 HSBC Bank USA 10/15/2014 37,369 - 37,369
USD 5,078,816 ZAR 54,712,052 JPMorgan Chase
Bank N.A.		 10/15/2014 239,779 - 239,779
ZAR 20,984,637 USD 1,949,000 Credit Suisse
International		 10/15/2014 - (93,003) (93,003)
ZAR 32,082,590 USD 2,978,000 Goldman Sachs
Capital Markets LP		 10/15/2014 - (140,438) (140,438)
ZAR 7,850,430 USD 733,000 HSBC Bank USA 10/15/2014 - (38,665) (38,665)
ZAR 11,335,300 USD 1,052,000 JPMorgan Chase
Bank N.A.		 10/15/2014 - (49,443) (49,443)
$27,078,683 ($20,443,101) $6,635,582

High Yield Trust

The portfolio used forward foreign currency contracts to manage against anticipated changes in currency exchange rates. The following table summarizes the contracts held at September 30, 2014.

368


                              Contractual                Net Unrealized
Settlement Unrealized Unrealized Appreciation/
Portfolio Contract to Buy Contract to Sell Counterparty Date Appreciation Depreciation (Depreciation)
High Yield Trust CAD 2,322,428 USD 2,114,540 Citibank N.A.
London		 11/14/2014 - ($42,971) ($42,971)
USD 2,116,702 EUR 1,580,104 Citibank N.A.
London		 11/14/2014 $120,389 - 120,389
USD 2,687,644 EUR 2,008,145 UBS AG
London		 11/14/2014 150,539 - 150,539
$270,928 ($42,971) $227,957

International Core Trust

The portfolio used forward foreign currency contracts to manage against anticipated changes in currency exchange rates. The following table summarizes the contracts held at September 30, 2014.

                              Contractual                Net Unrealized
Settlement Unrealized Unrealized Appreciation/
Portfolio Contract to Buy Contract to Sell Counterparty Date

Appreciation

Depreciation

 (Depreciation)
International Core Trust AUD 2,579,470 USD 2,342,419 Bank of America,
N.A.		 10/31/2014 - ($88,593) ($88,593)
AUD 1,720,253 USD 1,562,174 State Street Bank
and Trust Company		 10/31/2014 - (59,093) (59,093)
CHF 1,451,212 USD 1,600,177 Barclays Bank
PLC Wholesale		 10/31/2014 - (79,731) (79,731)
EUR 716,633 USD 959,328 Bank of America,
N.A.		 10/31/2014 - (54,022) (54,022)
EUR 743,979 USD 996,065 Bank of New York 10/31/2014 - (56,214) (56,214)
EUR 596,988 USD 799,265 Brown Brothers
Harriman &
Company		 10/31/2014 - (45,104) (45,104)
GBP 5,374,404 USD 8,721,593 Bank of America,
N.A.		 10/31/2014 - (11,069) (11,069)
GBP 1,767,661 USD 2,874,353 Bank of New York 10/31/2014 - (9,430) (9,430)
JPY 347,642,074 USD 3,385,965 Bank of America,
N.A.		 10/31/2014 - (215,574) (215,574)
JPY 630,937,477 USD 6,143,530 Bank of New York 10/31/2014 - (389,572) (389,572)
JPY 137,042,197 USD 1,334,764 Barclays Bank
PLC Wholesale		 10/31/2014 - (84,980) (84,980)
JPY 771,133,769 USD 7,510,068 Brown Brothers
Harriman &
Company		 10/31/2014 - (477,562) (477,562)
JPY 417,882,067 USD 4,066,682 Deutsche Bank
AG London		 10/31/2014 - (255,724) (255,724)
JPY 517,721,531 USD 5,041,855 JPMorgan Chase
Bank		 10/31/2014 - (320,392) (320,392)
JPY 171,951,652 USD 1,674,373 Morgan Stanley
and Company
International PLC		 10/31/2014 - (106,226) (106,226)
JPY 285,494,248 USD 2,780,942 State Street
Bank and Trust
Company		 10/31/2014 - (177,321) (177,321)
NOK 7,275,870 USD 1,178,040 Bank of America,
N.A.		 10/31/2014 - (46,693) (46,693)
NOK 6,236,459 USD 1,010,202 Barclays Bank
PLC Wholesale		 10/31/2014 - (40,476) (40,476)
NOK 7,275,870 USD 1,181,651 State Street Bank
and Trust Company		 10/31/2014 - (50,304) (50,304)
SGD 2,331,133 USD 1,867,986 Bank of New York 10/31/2014 - (40,650) (40,650)
SGD 4,201,544 USD 3,365,705 Barclays Bank
PLC Wholesale		 10/31/2014 - (72,184) (72,184)
SGD 957,670 USD 767,762 Brown Brothers
Harriman &
Company		 10/31/2014 - (17,060) (17,060)

369


     SGD      1,481,464      USD      1,186,007      Deutsche Bank
AG London		      10/31/2014      -      (24,712)      (24,712)
SGD 2,899,159 USD 2,323,167 JPMorgan
Chase Bank		 10/31/2014 - (50,564) (50,564)
SGD 3,559,192 USD 2,852,374 Morgan Stanley
and Company
International PLC		 10/31/2014 - (62,382) (62,382)
SGD 3,855,554 USD 3,088,985 State Street
Bank and
Trust Company		 10/31/2014 - (66,681) (66,681)
USD 2,389,330 AUD 2,579,470 Bank of America,
N.A.		 10/31/2014 $135,504 - 135,504
USD 3,594,938 AUD 3,882,285 State Street
Bank and
Trust Company		 10/31/2014 202,770 - 202,770
USD 1,037,828 CAD 1,138,677 Bank of America,
N.A.		 10/31/2014 21,816 - 21,816
USD 857,017 CAD 940,422 Brown Brothers
Harriman & Company		 10/31/2014 17,903 - 17,903
USD 1,317,519 CAD 1,445,266 Deutsche Bank
AG London		 10/31/2014 27,946 - 27,946
USD 1,624,340 CHF 1,476,785 Bank of America,
N.A.		 10/31/2014 77,101 - 77,101
USD 2,342,837 CHF 2,130,493 Barclays Bank
PLC Wholesale		 10/31/2014 110,703 - 110,703
USD 3,427,861 CHF 3,115,823 JPMorgan Chase Bank 10/31/2014 163,388 - 163,388
USD 959,819 CHF 872,660 Morgan Stanley
and Company
International PLC		 10/31/2014 45,526 - 45,526
USD 4,179,894 CHF 3,800,013 State Street
Bank and Trust
Company		 10/31/2014 198,590 - 198,590
USD 1,217,266 EUR 940,970 Bank of America,
N.A.		 10/31/2014 28,560 - 28,560
USD 962,300 EUR 743,979 Bank of New York 10/31/2014 22,448 - 22,448
USD 772,126 EUR 596,988 Brown Brothers
Harriman &
Company		 10/31/2014 17,965 - 17,965
USD 9,395,866 GBP 5,577,936 Bank of America,
N.A.		 10/31/2014 355,469 - 355,469
USD 5,997,287 GBP 3,559,506 Bank of New York 10/31/2014 228,245 - 228,245
USD 3,746,089 GBP 2,223,634 Barclays Bank
PLC Wholesale		 10/31/2014 142,152 - 142,152
USD 1,538,717 GBP 913,310 Brown Brothers
Harriman &
Company		 10/31/2014 58,477 - 58,477
USD 3,819,028 GBP 2,266,687 Deutsche Bank
AG London		 10/31/2014 145,312 - 145,312
USD 6,050,409 GBP 3,590,846 Morgan Stanley
and Company
International PLC		 10/31/2014 230,573 - 230,573
USD 3,881,923 JPY 416,607,997 Bank of New York 10/31/2014 82,585 - 82,585
USD 1,610,071 JPY 171,951,652 Morgan Stanley
and Company
International PLC		 10/31/2014 41,924 - 41,924
USD 3,940,015 NOK 24,956,426 Bank of America,
N.A.		 10/31/2014 59,465 - 59,465
USD 898,136 NOK 5,756,780 Bank of New York 10/31/2014 2,997 - 2,997
USD 3,220,406 NOK 20,380,747 Barclays Bank
PLC Wholesale		 10/31/2014 51,342 - 51,342
USD 3,207,284 NOK 20,295,253 State Street
Bank and
Trust Company		 10/31/2014 51,513 - 51,513
USD 1,437,538 NZD 1,702,832 Bank of America,
N.A.		 10/31/2014 112,066 - 112,066
USD 2,413,161 SEK 16,967,437 Bank of America,
N.A.		 10/31/2014 62,046 - 62,046
USD 826,340 SEK 5,684,519 Bank of New York 10/31/2014 38,657 - 38,657
USD 1,006,405 SEK 7,168,726 Barclays Bank
PLC Wholesale		 10/31/2014 13,061 - 13,061
USD 749,685 SEK 5,157,525 Brown Brothers
Harriman &
Company		 10/31/2014 35,026 - 35,026
USD 1,828,894 SEK 12,832,377 Deutsche Bank
AG London		 10/31/2014 50,759 - 50,759
USD 4,969,722 SEK 34,811,423 Morgan Stanley
and Company
International PLC		 10/31/2014 146,032 - 146,032
USD 1,007,053 SEK 7,168,725 State Street
Bank and
Trust Company		 10/31/2014 13,706 - 13,706
                            $2,991,627   ($2,902,313)   $89,314

370


Investment Quality Bond Trust

The portfolio used forward foreign currency contracts to manage against anticipated changes in currency exchange rates and to gain exposure to foreign currencies. The following table summarizes the contracts held at September 30, 2014.

                              Contractual                Net Unrealized
Settlement Unrealized Unrealized Appreciation/
Portfolio Contract to Buy Contract to Sell Counterparty Date Appreciation Depreciation (Depreciation)
Investment Quality Bond Trust JPY 31,072,000 USD 291,568 JPMorgan Chase
Bank N.A.		 12/17/2014 - ($8,059) ($8,059)
RSD 20,000,000 USD 201,552 Citibank N.A. 9/18/2015 - (1,666) (1,666)
USD 4,357,566 EUR 3,405,000 JPMorgan Chase
Bank N.A.		 10/31/2014 $56,108 - 56,108
USD 318,447 EUR 252,000 Barclays Bank
PLC Wholesale		 12/17/2014 - (11) (11)
USD 1,030,653 EUR 796,000 Deutsche Bank
AG London		 12/17/2014 24,731 - 24,731
USD 219,886 EUR 170,000 Citibank N.A. 9/18/2015 4,305 - 4,305
USD 1,109,588 GBP 678,000 Citibank N.A. 10/31/2014 10,724 - 10,724
USD 283,975 JPY 31,072,000 Goldman Sachs
International		 12/17/2014 466 - 466
                            $96,334   ($9,736)   $86,598

Mutual Shares Trust

The portfolio used forward foreign currency contracts to manage against anticipated changes in currency exchange rates, and to maintain diversity and liquidity of the portfolio. The following table summarizes the contracts held at September 30, 2014.

                            Contractual                Net Unrealized
Settlement Unrealized Unrealized Appreciation/
Portfolio Contract to Buy Contract to Sell Counterparty Date Appreciation Depreciation (Depreciation)
Mutual Shares Trust CHF 12,574 USD 13,435 Credit Suisse
International		 2/12/2015 - ($244) ($244)
CHF 15,973 USD 17,148 Deutsche Bank
AG London		 2/12/2015 - (392) (392)
EUR 296,164 USD 384,518 Bank of America,
N.A.		 11/17/2014 - (10,335) (10,335)
EUR 111,307 USD 148,969 Barclays Bank
PLC Wholesale		 11/17/2014 - (8,340) (8,340)
EUR 99,052 USD 130,241 Credit Suisse
International		 11/17/2014 - (5,096) (5,096)
EUR 83,240 USD 110,127 Deutsche Bank
AG London		 11/17/2014 - (4,959) (4,959)
EUR 119,519 USD 158,069 HSBC Bank
PLC		 11/17/2014 - (7,064) (7,064)
EUR 200,149 USD 262,672 State Street Bank
and
Trust Company		 11/17/2014 - (9,797) (9,797)
GBP 135,433 USD 225,685 Bank of America,
N.A.		 2/19/2015 - (6,435) (6,435)
GBP 163,316 USD 264,298 Barclays Bank
PLC Wholesale		 2/19/2015 $92 - 92
GBP 108,114 USD 174,993 Credit Suisse
International		 2/19/2015 31 - 31
GBP 656,299 USD 1,069,376 Deutsche Bank
AG London		 2/19/2015 - (6,902) (6,902)
GBP 168,426 USD 273,556 HSBC Bank PLC 2/19/2015 - (894) (894)

371


     GBP      832,225      USD      1,359,484      State Street Bank
and Trust
Company		      2/19/2015      -      (12,207)      (12,207)
KRW 51,911,728 USD 48,872 HSBC Bank PLC 2/12/2015 250 - 250
USD 1,654,228 CHF 1,493,315 Bank of America,
N.A.		 2/12/2015 87,650 - 87,650
USD 21,035 CHF 18,964 Credit Suisse
International		 2/12/2015 1,140 - 1,140
USD 52,860 CHF 48,261 Deutsche Bank
AG London		 2/12/2015 2,231 - 2,231
USD 6,843,306 EUR 4,992,091 Bank of America,
N.A.		 11/17/2014 536,120 - 536,120
USD 8,260,405 EUR 6,021,983 Barclays Bank
PLC Wholesale		 11/17/2014 652,018 - 652,018
USD 288,992 EUR 211,615 Deutsche Bank
AG London		 11/17/2014 21,630 - 21,630
USD 4,145,544 EUR 3,036,073 HSBC Bank
PLC		 11/17/2014 309,660 - 309,660
USD 76,174 EUR 55,961 State Street Bank
and
Trust Company		 11/17/2014 5,471 - 5,471
USD 3,789,872 EUR 2,786,139 Bank of America,
N.A.		 1/20/2015 268,030 - 268,030
USD 85,289 EUR 65,355 Credit Suisse
International		 1/20/2015 2,674 - 2,674
USD 217,804 EUR 166,385 Deutsche Bank
AG London		 1/20/2015 7,486 - 7,486
USD 238,864 EUR 182,806 HSBC Bank PLC 1/20/2015 7,787 - 7,787
USD 304,453 EUR 232,634 State Street Bank
and
Trust Company		 1/20/2015 10,390 - 10,390
USD 16,018,347 GBP 9,614,277 Bank of America,
N.A.		 2/19/2015 453,931 - 453,931
USD 16,022,191 GBP 9,614,276 Credit Suisse
International		 2/19/2015 457,777 - 457,777
USD 16,062,694 GBP 9,638,002 State Street Bank
and Trust
Company		 2/19/2015 459,871 - 459,871
USD 1,760,803 KRW 1,822,200,391 Bank of America,
N.A.		 2/12/2015 36,520 - 36,520
USD 3,019,145 KRW 3,127,151,608 Credit Suisse
International		 2/12/2015 60,034 - 60,034
USD 2,915,374 KRW 3,001,703,844 HSBC Bank
PLC		 2/12/2015 74,967 - 74,967
                            $3,455,760   ($72,665)   $3,383,095

New Income Trust

The portfolio used forward foreign currency contracts to manage against anticipated changes in currency exchange rates and to gain exposure to foreign currencies. The following table summarizes the contracts held at September 30, 2014.

                              Contractual                Net Unrealized
Settlement Unrealized Unrealized Appreciation/
Portfolio Contract to Buy Contract to Sell Counterparty Date Appreciation Depreciation (Depreciation)
New Income Trust BRL 4,065,000 USD 1,737,291 Morgan Stanley
& Company
International		 12/2/2014 - ($104,006) ($104,006)
EUR 3,040,000 USD 3,926,783 Deutsche Bank
AG London		 10/9/2014 - (86,944) (86,944)
EUR 3,315,000 USD 4,428,973 Goldman Sachs
International		 10/9/2014 - (241,779) (241,779)
GBP 2,465,000 USD 3,994,113 Deutsche Bank
AG London		 11/18/2014 $377 - 377
HKD 152,350,000 USD 19,657,862 Standard Chartered
Bank		 11/12/2014 - (38,883) (38,883)
HKD 77,705,000 USD 10,027,487 Standard Chartered
Bank		 11/28/2014 - (21,176) (21,176)
JPY 433,690,000 USD 4,064,688 Standard Chartered
Bank		 11/4/2014 - (109,455) (109,455)

372


MXN   193,725,000    USD   14,626,495    Royal Bank of Scotland PLC   11/14/2014   -   (241,718)   (241,718)
PLN 13,640,000 USD 4,261,421 Deutsche Bank AG London 12/5/2014 - (154,244) (154,244)
USD 6,286,882 AUD 7,005,000 Standard Chartered Bank 12/18/2014 187,224 - 187,224
USD 7,021,486 BRL 16,405,000 Royal Bank of Scotland PLC 12/2/2014 430,088 - 430,088
USD 4,310,241 CAD 4,670,000 Goldman Sachs International 10/29/2014 143,127 - 143,127
USD 14,770,795 EUR 10,860,000 Goldman Sachs International 10/9/2014 1,053,473 - 1,053,473
USD 4,835,992 EUR 3,610,000 State Street Bank London 11/3/2014 275,477 - 275,477
USD 4,412,060 EUR 3,355,000 Goldman Sachs International 12/5/2014 172,653 - 172,653
USD 8,469,884 GBP 5,080,000 Deutsche Bank AG London 11/18/2014 237,831 - 237,831
USD 12,844,732 HKD 99,545,000 Standard Chartered Bank 11/12/2014 25,754 - 25,754
USD   8,564,857 JPY 880,630,000   State Street Bank London   11/4/2014 533,553 - 533,553
USD 4,395,982 MXN 58,245,000 Royal Bank of Scotland PLC 11/14/2014 71,081   - 71,081
USD 4,160,484   NZD 5,030,000 Bank of America, N.A. 11/28/2014 256,013 - 256,013
USD 1,588,660 ZAR   17,920,000 Barclays Bank PLC Wholesale 12/22/2014 22,039 - 22,039
USD 7,473,197 ZAR 83,245,000 State Street Bank London 12/22/2014   195,667 -   195,667
                          $3,604,357   ($998,205)   $2,606,152
 

Real Return Bond Trust

 

The portfolio used forward foreign currency contracts to manage against anticipated changes in currency exchange rates, gain exposure to foreign currencies, and to maintain diversity and liquidity of the portfolio. The following table summarizes the contracts held at September 30, 2014.

 
Contractual Net Unrealized
Settlement Unrealized Unrealized Appreciation/
Portfolio   Contract to Buy     Contract to Sell     Counterparty    Date    Appreciation    Depreciation    (Depreciation)
Real Return Bond Trust BRL    338,100 USD    137,944 BNP Paribas SA   10/2/2014   $183   -   $183
BRL 1,473,095 USD 601,018 Deutsche Bank AG London 10/2/2014 798 - 798
BRL 384,370 USD 156,822 Goldman Sachs Capital Markets LP 10/2/2014 208 - 208
BRL 3,069,157 USD 1,342,985 UBS AG 10/2/2014 - ($89,117) (89,117)
BRL 873,592 USD 368,449 UBS AG 11/4/2014 - (14,674) (14,674)
  EUR 14,000 USD 18,126 Bank of America, N.A. 10/2/2014 - (443) (443)
EUR 35,000 USD 45,225 Citibank N.A. 10/2/2014 - (1,018) (1,018)
EUR 13,239,000 USD 16,932,681 UBS AG 10/2/2014 - (211,156) (211,156)
EUR 181,000 USD 230,428 Credit Suisse International 11/4/2014 - (1,769) (1,769)
GBP 399,000 USD 653,244 Barclays Bank PLC Wholesale 12/11/2014 - (6,804) (6,804)
GBP 222,000 USD 363,879 Citibank N.A. 12/11/2014 - (4,206) (4,206)
INR 28,901,940 USD 477,000 Barclays Capital 10/15/2014 - (10,243) (10,243)
INR 6,796,608 USD 112,000 Citibank N.A. 10/15/2014 - (2,237) (2,237)

373


INR    68,729,010    USD    1,129,668    Credit Suisse International    10/15/2014    -    (19,715)    (19,715)
INR 6,055,000 USD 100,000 Deutsche Bank AG London 10/15/2014 - (2,214) (2,214)
INR 110,482,558 USD 1,770,999 Citibank N.A. 1/20/2015 - (22,842) (22,842)
JPY 193,900,000 USD 1,781,350 JPMorgan Chase Bank N.A. 10/2/2014 - (13,400) (13,400)
MXN 3,102,000 USD 236,208 BNP Paribas SA 12/18/2014 - (6,369) (6,369)
MXN 2,004,341 USD 151,790 BNP Paribas SA 2/5/2015 - (3,763) (3,763)
MYR 191,208 USD 60,000 Barclays Capital 10/15/2014 - (1,764) (1,764)
MYR 1,307,320 USD 407,684 Credit Suisse International 10/15/2014 - (9,517) (9,517)
MYR 350,658 USD 110,000 JPMorgan Chase Bank 10/15/2014 - (3,201) (3,201)
MYR 1,849,186 USD 570,033 UBS AG 1/20/2015 - (10,318) (10,318)
PLN 572,286 USD 185,341 Barclays Capital 10/30/2014 - (12,729) (12,729)
USD 745,933 AUD 800,000 HSBC Bank USA 10/2/2014 45,493 - 45,493
  USD 150,000 BRL 338,100 BNP Paribas SA 10/2/2014 11,873 - 11,873
USD 655,000 BRL 1,473,095 Deutsche Bank AG London 10/2/2014 53,185 - 53,185
USD 170,000 BRL 384,370 Goldman Sachs Capital Markets LP 10/2/2014 12,970 - 12,970
USD 1,267,524 BRL 3,069,157 UBS AG 10/2/2014 13,657 - 13,657
USD 17,540,054 EUR 13,288,000 Goldman Sachs Capital Markets LP 10/2/2014 756,639 - 756,639
USD 316,208 EUR 248,000 Deutsche Bank AG London 11/4/2014 2,907 - 2,907
USD 16,936,189 EUR 13,239,000 UBS AG 11/4/2014 211,228 - 211,228
USD 3,231,615 GBP 2,001,000 Bank of America, N.A. 12/11/2014 - (10,304) (10,304)
USD 1,799,390 INR 110,482,558 Citibank N.A. 10/15/2014 15,130 - 15,130
USD 1,837,683 JPY 191,300,000 Goldman Sachs Capital Markets LP 10/2/2014 93,438 - 93,438
USD 24,940 JPY 2,600,000 HSBC Bank USA 10/2/2014 1,233 - 1,233
USD 1,781,776 JPY 193,900,000 JPMorgan Chase Bank N.A. 11/4/2014 13,417 - 13,417
USD 2,326,938 MXN 30,705,112 BNP Paribas SA 12/11/2014 50,927 - 50,927
USD 360,000 MXN 4,773,060 Bank of America, N.A. 12/18/2014 6,346 - 6,346
USD 85,118 MXN 1,134,000 Barclays Bank PLC Wholesale 12/18/2014 1,096 - 1,096
USD 1,565,581 MXN 20,724,282 BNP Paribas SA 12/18/2014 30,040 - 30,040
USD 2,997 MXN 40,000 Citibank N.A. 12/18/2014 33 - 33
USD 340,000 MXN 4,456,720 UBS AG 12/18/2014 9,785 - 9,785
USD 898,709 MXN 11,820,719 BNP Paribas SA 1/8/2015 24,015 - 24,015
USD 120,000 MYR 392,880 Credit Suisse International 10/15/2014 342 - 342
USD 130,000 MYR 425,945 Goldman Sachs Capital Markets LP 10/15/2014 271 - 271
USD 573,622 MYR 1,849,186 UBS AG 10/15/2014 10,420 - 10,420
USD 311,927 NZD 373,000 HSBC Bank USA 10/2/2014 20,744 - 20,744
$1,386,378 ($457,803) $928,575

374


Strategic Income Opportunities Trust

The portfolio used forward foreign currency contracts to manage against anticipated changes in currency exchange rates, and enhance potential gain/income. The following table summarizes the contracts held at September 30, 2014.

Contractual Net Unrealized
Settlement Unrealized Unrealized   Appreciation/
Portfolio   Contract to Buy   Contract to Sell   Counterparty   Date   Appreciation   Depreciation   (Depreciation)
Strategic Income Opportunities Trust  AUD   8,625,468 GBP   4,720,000   Citibank N.A.   10/1/2014   -   ($99,798)   ($99,798)
                                                           AUD 24,912,630 GBP 13,900,000 JPMorgan Chase
Bank N.A.		 10/1/2014 - (721,730) (721,730)
AUD 10,139,826 NZD 11,067,494 Australia and New Zealand
Banking Group		 10/1/2014 $238,088 - 238,088
AUD 4,580,000 NZD 4,991,467 Canadian Imperial
Bank of Commerce		 10/1/2014 113,431 - 113,431
AUD 2,509,573 NZD 2,750,000 Deutsche Bank AG
London		 10/1/2014 50,470 - 50,470
AUD 4,390,000 NZD 4,785,320 JPMorgan Chase
Bank N.A.		 10/1/2014 108,006 - 108,006
AUD 20,679,113 NZD 22,804,761 State Street Bank
and Trust Company		 10/1/2014 303,067 - 303,067
AUD 2,520,000 NZD 2,688,008 UBS AG 10/1/2014 107,993 - 107,993
AUD 34,742,570 USD 30,820,134 Barclays Bank PLC
Wholesale		 10/1/2014 - (401,271) (401,271)
AUD 13,305,000 USD 12,512,820 Citibank N.A. 10/1/2014 - (863,625) (863,625)
AUD 13,305,000 USD 12,511,423 Deutsche Bank AG
London		 10/1/2014 - (862,228) (862,228)
CAD 2,498,688 GBP 1,350,000 Bank of Nova Scotia 10/1/2014 42,518 - 42,518
CAD 20,449,632 GBP 11,130,000 Royal Bank of Canada 10/1/2014 216,013 - 216,013
CAD 2,500,000 MXN 30,273,750 Bank of Nova Scotia 10/1/2014 - (21,862) (21,862)
CAD 4,560,000 MXN 55,116,720 Toronto Dominion Bank 10/1/2014 - (32,237) (32,237)
CAD 5,199,070 NZD 6,000,000 Royal Bank of Canada 12/10/2014 - (17,254) (17,254)
CAD 2,870,000 SGD 3,273,723 Australia and New Zealand
Banking Group		 10/1/2014 - (3,603) (3,603)
CAD 4,900,000 SGD 5,598,348 Bank of Nova Scotia 10/1/2014 - (13,257) (13,257)
CAD 4,270,000 SGD 4,888,416 Barclays Bank PLC
Wholesale		 10/1/2014 - (19,277) (19,277)
CAD 3,525,000 SGD 4,065,802 Deutsche Bank AG
London		 10/1/2014 - (39,653) (39,653)
  CAD 4,880,000 SGD 5,616,508 HSBC Bank USA 10/1/2014 - (45,349) (45,349)
CAD 6,000,000 SGD 6,877,320 Royal Bank of Canada 10/1/2014 - (33,635) (33,635)
CAD 2,440,000 SGD 2,813,808 Standard Chartered Bank 10/1/2014 - (27,029) (27,029)
CAD 7,256,172 USD 6,630,000 Bank of Montreal 10/1/2014 - (150,987) (150,987)
CAD 3,724,128 USD 3,417,141 Bank of Nova Scotia 10/1/2014 - (91,878) (91,878)
CAD 4,855,371 USD 4,435,000 Canadian Imperial
Bank of Commerce		 10/1/2014 - (99,653) (99,653)
CAD 4,869,235 USD 4,430,000 Deutsche Bank AG
London		 10/1/2014 - (82,275) (82,275)
CAD 4,869,248 USD 4,425,000 J. Aron & Company 10/1/2014 - (77,264) (77,264)
CAD 5,932,097 USD 5,400,000 Royal Bank of Canada 10/1/2014 - (103,248) (103,248)
CAD 2,853,760 USD 2,600,000 State Street Bank
and Trust Company		 10/1/2014 - (51,886) (51,886)
CAD 77,212,208 USD 69,694,927 Toronto Dominion Bank 10/1/2014 - (752,377) (752,377)
CAD 7,632,191 USD 6,816,250 Toronto Dominion Bank 12/10/2014 - (12,568) (12,568)
EUR 4,425,000 GBP 3,498,140 J. Aron & Company 10/1/2014 - (82,012) (82,012)

375


                                                         EUR   4,985,000   GBP   3,954,949   JPMorgan Chase Bank N.A.   10/1/2014   -   (115,260)   (115,260)
EUR 585,000 USD 787,936 Bank of Montreal 10/1/2014 - (49,052) (49,052)
EUR 4,430,000 USD 5,921,492 J. Aron & Company 10/1/2014 - (326,179) (326,179)
EUR 4,430,000 USD 5,922,467 JPMorgan Chase Bank N.A. 10/1/2014 - (327,153) (327,153)
GBP 2,205,000 AUD 3,998,657 Citibank N.A. 10/1/2014 73,611 - 73,611
GBP 8,865,000 AUD 15,967,617 JPMorgan Chase Bank N.A. 10/1/2014 391,047 - 391,047
GBP 3,510,662 EUR 4,425,000 J. Aron & Company 10/1/2014 102,313 - 102,313
GBP 3,978,030 EUR 4,985,000 JPMorgan Chase Bank N.A. 10/1/2014 152,677 - 152,677
GBP 1,905,213 USD 3,115,594 Deutsche Bank AG London 10/1/2014 - (26,958) (26,958)
GBP 18,089,184 USD 30,936,123 JPMorgan Chase Bank N.A. 10/1/2014 - (1,610,839) (1,610,839)
MXN 55,492,920 CAD 4,560,000 Toronto Dominion Bank 10/1/2014 60,248 - 60,248
MXN 29,897,550 USD 2,290,418 Bank of Nova Scotia 10/1/2014 - (64,325) (64,325)
NOK 62,119,715 USD 9,726,723 Standard Chartered Bank 10/1/2014 - (57,908) (57,908)
NZD 2,280,000 AUD 2,053,406 Australia and New Zealand
Banking Group		 10/1/2014 - (17,978) (17,978)
NZD 4,722,323 AUD 4,390,000 JPMorgan Chase Bank N.A. 10/1/2014 - (157,184) (157,184)
NZD 9,671,287 AUD 8,796,972 State Street Bank and
Trust Company		 10/1/2014 - (152,302) (152,302)
NZD 32,413,440 USD 26,837,519 Bank of Nova Scotia 10/1/2014 - (1,533,971) (1,533,971)
SEK 70,142,955 USD 9,769,214 Citibank N.A. 10/1/2014 - (48,738) (48,738)
SGD 5,339,037 EUR 3,300,000 Citibank N.A. 12/10/2014 15,055 - 15,055
SGD 11,682,139 EUR 7,225,000 Standard Chartered Bank 12/10/2014 27,381 - 27,381
SGD 33,309,925 USD 26,280,020 Bank of Montreal 10/1/2014 - (168,924) (168,924)
SGD 4,677,198 USD 3,695,000 HSBC Bank USA 10/1/2014 - (28,623) (28,623)
SGD 1,450,570 USD 1,140,000 Bank of Nova Scotia 12/10/2014 - (2,940) (2,940)
SGD 1,396,692 USD 1,100,000 HSBC Bank USA 12/10/2014 - (5,173) (5,173)
SGD 624,236 USD 490,000 State Street Bank and
Trust Company		 12/10/2014 - (680) (680)
USD 95,113,305 AUD 101,576,083 Barclays Bank PLC
Wholesale		 10/1/2014 6,178,349 - 6,178,349
USD 1,745,095 AUD 1,876,446 State Street Bank and
Trust Company		 10/1/2014 102,172 - 102,172
USD 976,238 AUD 1,050,000 Toronto Dominion Bank 10/1/2014 56,910 - 56,910
USD 30,663,966 AUD 34,742,570 Barclays Bank PLC
Wholesale		 12/10/2014 394,200 - 394,200
USD 6,630,000 CAD 7,240,211 Bank of Montreal 10/1/2014 165,238 - 165,238
USD 4,435,000 CAD 4,845,903 Canadian Imperial
Bank of Commerce		 10/1/2014 108,108 - 108,108
USD 4,430,000 CAD 4,855,391 Deutsche Bank AG
London		 10/1/2014 94,637 - 94,637
USD 4,425,000 CAD 4,862,717 J. Aron & Company 10/1/2014 83,095 - 83,095
USD 4,430,000 CAD 4,852,312 Royal Bank of Canada 10/1/2014 97,385 - 97,385
USD 130,428,536 CAD 139,249,004 Toronto Dominion Bank 10/1/2014 6,093,518 - 6,093,518
USD 61,982,617 CAD 68,857,729 Toronto Dominion Bank 12/10/2014 599,697 - 599,697
USD 5,927,473 EUR 4,430,000 J. Aron & Company 10/1/2014 332,159 - 332,159
USD 5,941,206 EUR 4,430,000 JPMorgan Chase Bank N.A. 10/1/2014 345,892 - 345,892
USD 797,121 EUR 585,000 UBS AG 10/1/2014 58,236 - 58,236
USD 4,443,355 EUR 3,500,000 Bank of Nova Scotia 12/10/2014 20,561 - 20,561
USD 3,113,498 GBP 1,905,213 Deutsche Bank AG London 12/10/2014 26,742 - 26,742
USD 10,063,458 NOK 62,119,715 Standard Chartered Bank 10/1/2014 394,644 - 394,644
USD 9,702,037 NOK 62,119,715 Standard Chartered Bank 12/10/2014 56,409 - 56,409
USD 18,058,111 NZD 22,518,314 Bank of Nova Scotia 12/10/2014 599,130 - 599,130
USD 10,314,458 SEK 70,142,955 Citibank N.A. 10/1/2014 593,982 - 593,982
USD 9,766,833 SEK 70,142,955 Citibank N.A. 12/10/2014 48,193 - 48,193
USD 115,184 SGD 143,057 Bank of Montreal 10/1/2014 3,044 - 3,044
USD 3,775,000 SGD 4,710,141 HSBC Bank USA 10/1/2014 82,799 - 82,799
USD 26,274,838 SGD 33,309,925 Bank of Montreal 12/10/2014 164,151 - 164,151
USD 1,220,000 SGD 1,543,507 HSBC Bank USA 12/10/2014 10,089 - 10,089
$18,711,258 ($9,400,143) $9,311,115

376


Total Return Trust

The portfolio used forward foreign currency contracts to manage against anticipated changes in currency exchange rates, gain exposure to foreign currencies and to maintain diversity and liquidity of the portfolio. The following table summarizes the contracts held at September 30, 2014.

Contractual Net Unrealized
Settlement Unrealized Unrealized Appreciation/
Portfolio Contract to Buy Contract to Sell Counterparty Date Appreciation Depreciation (Depreciation)
Total Return Trust   BRL   7,733,814   USD   3,290,985   UBS AG   10/2/2014   -   ($131,424)   ($131,424)
BRL 840,956 USD 340,000 BNP Paribas SA 11/4/2014 $558 - 558
BRL 1,340,280 USD 540,000 UBS AG 11/4/2014 2,767 - 2,767
EUR 209,321,000 USD 266,767,789 Bank of America, N.A. 10/2/2014 - (2,384,801) (2,384,801)
EUR 15,695,000 USD 20,447,463 Barclays Bank PLC Wholesale 10/2/2014 - (623,886) (623,886)
EUR 1,247,000 USD 1,646,262 BNP Paribas SA 10/2/2014 - (71,238) (71,238)
EUR 10,410,000 USD 13,511,478 Citibank N.A. 10/2/2014 - (363,124) (363,124)
EUR 1,767,000 USD 2,329,307 Credit Suisse International 10/2/2014 - (97,497) (97,497)
  EUR 5,924,000 USD 7,634,727 Goldman Sachs Capital Markets LP 10/2/2014 - (152,416) (152,416)
EUR 2,388,000 USD 3,108,361 HSBC Bank USA 10/2/2014 - (92,196) (92,196)
EUR 392,000 USD 512,423 Bank of America, N.A. 6/15/2015 - (16,193) (16,193)
EUR 1,845,000 USD 2,461,616 Barclays Bank PLC Wholesale 6/15/2015 - (126,045) (126,045)
EUR 1,767,000 USD 2,368,681 BNP Paribas SA 6/15/2015 - (131,850) (131,850)
EUR 4,350,000 USD 5,754,920 Citibank N.A. 6/15/2015 - (248,290) (248,290)
EUR 1,832,000 USD 2,382,113 Deutsche Bank AG London 6/15/2015 - (62,999) (62,999)
EUR 23,311,000 USD 31,210,084 Goldman Sachs Capital Markets LP 6/15/2015 - (1,700,879) (1,700,879)
EUR 2,805,000 USD 3,750,566 JPMorgan Chase Bank N.A. 6/15/2015 - (199,739) (199,739)
EUR 1,078,000 USD 1,420,713 UBS AG 6/15/2015 - (56,082) (56,082)
EUR 1,241,000 USD 1,676,033 Bank of America, N.A. 6/13/2016 - (87,566) (87,566)

377


EUR   4,463,000   USD   6,032,191   Deutsche Bank AG London   6/13/2016   -   (319,598)   (319,598)
JPY 4,540,389,838 USD 41,712,355 JPMorgan Chase Bank N.A. 10/2/2014 - (313,770) (313,770)
  MXN 169,654,468 USD 12,682,672 BNP Paribas SA 12/18/2014 - (112,326) (112,326)
MXN 16,331,000 USD 1,241,967 Citibank N.A. 12/18/2014 - (31,941) (31,941)
MXN 2,596,240 USD 198,351 Goldman Sachs Capital Markets LP 12/18/2014 - (5,986) (5,986)
MXN 124,246,070 USD 9,402,964 Royal Bank of Canada 2/5/2015 - (226,989) (226,989)
USD 9,768,035 AUD 11,232,000 Goldman Sachs Capital Markets LP 11/4/2014 - (43,203) (43,203)
USD 3,383,047 BRL 7,733,814 UBS AG 10/2/2014 223,485 - 223,485
USD 540,000 BRL 1,340,280 BNP Paribas SA 11/4/2014 - (2,767) (2,767)
USD 340,000 BRL 840,956 JPMorgan Chase Bank 11/4/2014 - (558) (558)
USD 3,261,836 BRL 7,733,814 UBS AG 11/4/2014 129,909 - 129,909
USD 28,420,153 CAD 31,471,000 Goldman Sachs Capital Markets LP 10/16/2014 329,596 - 329,596
USD 471,505 EUR 362,000 Bank of America, N.A. 10/2/2014 14,281 - 14,281
USD 793,196 EUR 602,000 Barclays Bank PLC Wholesale 10/2/2014 32,840 - 32,840
USD 2,242,435 EUR 1,745,000 Citibank N.A. 10/2/2014 38,412 - 38,412
USD 2,375,554 EUR 1,832,000 Deutsche Bank AG London 10/2/2014 61,646 - 61,646
USD 318,293,631 EUR 241,133,000 Goldman Sachs Capital Markets LP 10/2/2014 13,730,481 - 13,730,481
USD 1,417,570 EUR 1,078,000 UBS AG 10/2/2014 56,002 - 56,002
USD 261,022,741 EUR 204,841,000 Bank of America, N.A. 11/4/2014 2,245,032 - 2,245,032
USD 32,829,180 EUR 26,059,000 BNP Paribas SA 11/4/2014 - (91,418) (91,418)
USD 17,510,675 EUR 12,879,000 Bank of America, N.A. 6/15/2015 1,207,253 - 1,207,253
USD 9,996,652 EUR 7,358,000 Barclays Bank PLC Wholesale 6/15/2015 682,221 - 682,221
USD 7,933,712 EUR 5,850,000 BNP Paribas SA 6/15/2015 528,244 - 528,244
USD 11,618,133 EUR 8,499,000 Citibank N.A. 6/15/2015 859,319 - 859,319
USD 14,459,122 EUR 10,653,000 Credit Suisse International 6/15/2015 973,577 - 973,577
USD 9,361,569 EUR 7,000,000 Bank of America, N.A. 8/7/2015 492,183 - 492,183
USD 936,551 EUR 700,000 Deutsche Bank AG London 8/7/2015 49,612 - 49,612
USD 42,952,544 EUR 31,406,000 Bank of America, N.A. 6/13/2016 2,753,200 - 2,753,200
USD 15,387,070 EUR 11,238,000 Deutsche Bank AG London 6/13/2016 1,002,550 - 1,002,550
USD 9,724,508 EUR 7,063,000 Bank of America, N.A. 6/27/2016 679,438 - 679,438
USD 10,747,391 EUR 7,816,000 Barclays Bank PLC Wholesale 6/27/2016 738,008 - 738,008
USD 28,793,835 GBP 17,829,000 Bank of America, N.A. 12/11/2014 - (91,810) (91,810)
USD 9,371,524 JPY 1,000,800,000 Deutsche Bank AG London 10/2/2014 246,382 - 246,382
USD 32,169,434 JPY 3,348,789,838 Goldman Sachs Capital Markets LP 10/2/2014 1,635,677 - 1,635,677
USD 1,798,049 JPY 190,800,000 JPMorgan Chase Bank N.A. 10/2/2014 58,364 - 58,364
USD 26,833,181 JPY 2,943,600,000 Barclays Bank PLC Wholesale 11/4/2014 - (12,309) (12,309)
USD 41,722,321 JPY 4,540,389,838 JPMorgan Chase Bank N.A. 11/4/2014 314,183 - 314,183
USD 18,922,458 JPY 2,023,000,000 Citibank N.A. 12/15/2014 464,766 - 464,766
USD 21,366,259 JPY 2,279,000,000 JPMorgan Chase Bank N.A. 12/15/2014 572,843 - 572,843
USD 17,043,537 JPY 1,818,000,000 UBS AG 12/15/2014 456,249 - 456,249

378


  USD    551,896    JPY    60,000,000    Bank of America, N.A.    3/10/2015    3,900    -    3,900
USD 1,865,198 MXN 24,622,105 Goldman Sachs Capital Markets LP 11/13/2014 36,795 - 36,795
USD 5,246,884 MXN 69,111,475 Goldman Sachs Capital Markets LP 12/11/2014 124,009 - 124,009
USD 1,129,671 MXN 15,054,000 BNP Paribas SA 12/18/2014 14,263 - 14,263
USD 5,360,773 MXN 70,893,000 Citibank N.A. 12/18/2014 108,040 - 108,040
USD 34,307,518 MXN 450,074,437 Deutsche Bank AG London 12/18/2014 959,786 - 959,786
USD 25,079,037 MXN 332,348,617 BNP Paribas SA 1/22/2015 510,204 - 510,204
USD 1,181,241 MXN 15,600,654 Goldman Sachs Capital Markets LP 1/22/2015 27,965 - 27,965
USD 9,099,029 MXN 120,211,817 BNP Paribas SA 2/5/2015 220,996 - 220,996
USD 18,128,360 MXN 239,520,958 Deutsche Bank AG London 2/5/2015 438,959 - 438,959
USD 5,891,492 MXN 78,137,686 BNP Paribas SA 2/19/2015 126,357 - 126,357
$33,150,352 ($7,798,900) $25,351,452
 

Utilities Trust

 

The portfolio used forward foreign currency contracts to manage against anticipated changes in currency exchange rates. The following table summarizes the contracts held at September 30, 2014.

 
Contractual Net Unrealized
Settlement Unrealized Unrealized Appreciation/
Portfolio Contract to Buy Contract to Sell Counterparty Date Appreciation Depreciation (Depreciation)
Utilities Trust EUR 166 USD 224 Barclays Bank PLC Wholesale 10/10/2014 - ($15) ($15)
EUR 38,178 USD 51,985 Credit Suisse International 10/10/2014 - (3,762) (3,762)
EUR 268,757 USD 339,460 Deutsche Bank AG London 10/10/2014 $11 - 11
EUR 217,152 USD 280,643 JPMorgan Chase Bank N.A. 10/10/2014 - (6,355) (6,355)
EUR 157,672 USD 208,047 Merrill Lynch International 10/10/2014 - (8,889) (8,889)
  EUR 233,623 USD 312,541 UBS AG 10/10/2014 - (17,449) (17,449)
GBP 60,893 USD 100,911 Barclays Bank PLC Wholesale 10/10/2014 - (2,201) (2,201)
GBP 104,940 USD 171,690 Credit Suisse International 10/10/2014 - (1,579) (1,579)
GBP 104,949 USD 170,593 Deutsche Bank AG London 10/10/2014 - (467) (467)
GBP 590,000 USD 989,854 Merrill Lynch International 10/10/2014 - (33,442) (33,442)
USD 23,218 EUR 17,923 Barclays Bank PLC Wholesale 10/10/2014 579 - 579
USD 11,024 EUR 8,500 Citibank N.A. 10/10/2014 288 - 288
USD 10,880,083 EUR 7,995,230 Credit Suisse International 10/10/2014 781,204 - 781,204
USD 7,039,171 EUR 5,178,603 Deutsche Bank AG London 10/10/2014 498,009 - 498,009
USD 333,252 EUR 247,311 Goldman Sachs International 10/10/2014 20,869 - 20,869
USD 14,918,873 EUR 10,960,213 JPMorgan Chase Bank N.A. 10/10/2014 1,074,887 - 1,074,887
USD 93,498 EUR 69,727 Merrill Lynch International 10/10/2014 5,425 - 5,425
USD 3,852,554 EUR 2,835,225 UBS AG 10/10/2014 271,344 - 271,344
USD 5,390,432 EUR 4,160,182 Barclays Bank PLC Wholesale 12/18/2014 133,084 - 133,084
USD 5,678,321 GBP 3,319,654 Credit Suisse International 10/10/2014 297,037 - 297,037
USD 5,680,342 GBP 3,319,654 Merrill Lynch International 10/10/2014 299,059 - 299,059
$3,381,796 ($74,159) $3,307,637

379


AUD       Australian Dollar       KRW       Korean Won
BRL Brazilian Real MXN Mexican Peso
CAD Canadian Dollar MYR Malyasian Ringgit
CHF Swiss Franc NOK Norwegian Krone
CNY Chinese Yuan Renminbi NZD New Zealand Dollar
DKK Danish Krone PLN Polish Zloty
EUR Euro RSD Serbian Dinar
GBP British Pound   SEK Swedish Krona
HKD   Hong Kong Dollar SGD Singapore Dollar
INR Indian Rupee ZAR   South African Rand
JPY Japanese Yen

Options. There are two types of options, put options and call options. Options are traded either OTC or on an exchange. A call option gives the purchaser of the option the right to buy (and the seller the obligation to sell) the underlying instrument at the exercise price. A put option gives the purchaser of the option the right to sell (and the writer the obligation to buy) the underlying instrument at the exercise price. Writing puts and buying calls may increase the portfolios’ exposure to changes in the value of the underlying instrument. Buying puts and writing calls may decrease the portfolios’ exposure to such changes. Risks related to the use of options include the loss of premiums, possible illiquidity of the options markets, trading restrictions imposed by an exchange and movements in underlying security values. In addition, OTC options are subject to the risks of all OTC derivatives contracts.

When a portfolio purchases an option, the premium paid by the portfolio is included in the Portfolio of Investments and subsequently “marked-to-market” to reflect current market value. When a portfolio writes an option, the premium received is included as a liability and subsequently “marked-to-market” to reflect current market value of the option written.

During the period ended September 30, 2014, Global Bond Trust and Real Return Bond Trust used purchased options to manage duration of the portfolio, to manage against anticipated interest rate changes and maintain diversity and liquidity of the portfolio. Investment Quality Bond Trust used purchased options to manage against anticipated interest rate changes. New Income Trust used purchased options to manage duration of the portfolio and to manage against anticipated interest rate changes. Strategic Income Opportunities Trust used purchased options to manage against anticipated changes in currency exchange rates. At September 30, 2014, New Income Trust held no purchased options.

380


The following tables summarize the portfolios’ written options activities during the period ended September 30, 2014 and the contracts held at September 30, 2014.

Number of Premiums
      Contracts/Notional       Received
Capital Appreciation Value Trust
Outstanding, beginning of period 2,268 $503,254
       Options written 4,226 898,781
       Option closed (1,022) (225,013)
       Options exercised (843) (166,029)
       Options expired (319) (62,343)
Outstanding, end of period 4,310 $948,650
Global Bond Trust
Outstanding, beginning of period 203,300,325 $1,595,441
       Options written 343,803,644 5,198,069
       Option closed (13,600,000) (140,106)
       Options exercised (40,201,427) (767,354)
       Options expired (310,902,271) (2,113,504)
Outstanding, end of period 182,400,271 $3,772,546
Health Sciences Trust
Outstanding, beginning of period 1,015 $698,384
       Options written 827 440,503
       Option closed (165) (105,396)
       Options exercised (294) (89,690)
       Options expired (1,155) (769,751)
Outstanding, end of period 228 $174,050
Real Return Bond Trust
Outstanding, beginning of period 38,200,000 $167,606
       Options written   25,870,036 129,915
       Option closed (10,090,000) (22,712)
       Options exercised (1,600,009) (7,997)
       Options expired (43,410,023) (204,610)
Outstanding, end of period 8,970,004 $62,202
Total Return Trust  
Outstanding, beginning of period 724,300,271   $3,094,486
       Options written 1,053,400,268 5,656,080
       Option closed (28,400,000) (108,446)
       Options exercised (81,300,086) (316,666)
       Options expired (1,073,200,357) (5,106,542)
Outstanding, end of period 594,800,096 $3,218,912

381


Options on Securities

Capital Appreciation Value Trust
The portfolio used written options to manage against changes in securities.

Exercise Expiration Number of
Portfolio       Name of Issuer       Price       Date       Contracts       Premium       Value
Capital Appreciation Value Trust CALLS
Autozone, Inc. 570.00 Jan 2015 1 $2,877 ($255)
Autozone, Inc. 600.00 Jan 2015 1 1,867 (62)
JPMorgan Chase & Company 60.00 Jan 2015 15 5,280 (3,555)
JPMorgan Chase & Company 65.00 Jan 2015 15 2,670 (907)
JPMorgan Chase & Company 70.00 Jan 2015 250 24,267 (3,125)
JPMorgan Chase & Company 70.00 Jan 2016 45 7,245 (7,245)
Philip Morris International, Inc. 95.00 Jan 2015 30 7,620 (270)
  Philip Morris International, Inc. 97.50 Jan 2015 81 18,392 (527)
Texas Instruments, Inc. 48.00 Oct 2014 20 2,800 (1,090)
Texas Instruments, Inc. 50.00 Oct 2014 20 1,720 (120)
Texas Instruments, Inc. 50.00 Jan 2015 40 4,888 (3,260)
The Boeing Company 135.00 Jan 2015 14 10,808 (2,715)
The Boeing Company 140.00 Jan 2015 14 8,288 (1,343)
The Procter & Gamble Company   85.00 Jan 2015 191 46,870   (28,172)
United Technologies Corp. 125.00   Jan 2015   8 3,376 (60)
United Technologies Corp. 130.00 Jan 2015 8   2,168 (20)
753 $151,136 ($52,726)

Health Sciences Trust
The portfolio used written options to manage against changes in securities.

Exercise Expiration Number of
Portfolio       Name of Issuer       Price       Date       Contracts       Premium       Value
Health Sciences Trust CALLS
Gilead Sciences, Inc. $105.00 Jan 2015 30 $14,975 ($27,600)
  Gilead Sciences, Inc. 110.00 Jan 2015 45 15,671 (30,713)
Intercept Pharmaceuticals, Inc. 330.00 Nov 2014 14 37,055 (6,020)
Intercept Pharmaceuticals, Inc. 350.00 Nov 2014 10 21,859 (3,500)
Intermune, Inc. 50.00 Oct 2014 25 8,735   (59,750)
Intermune, Inc. 55.00 Oct 2014 38 11,324 (71,725)
Pharmacyclics, Inc. 140.00 Nov 2014   35   15,646 (8,050)
Puma Biotechnology, Inc.   330.00   Jan 2015 14 31,504 (12,950)
Puma Biotechnology, Inc. 350.00 Jan 2015 7 12,555 (4,585)
Vertex Pharmaceuticals, Inc. 105.00 Oct 2014 10 4,726 (9,400)
228 $174,050 ($234,293)

382


Over the Counter Options on Securities

Capital Appreciation Value Trust
The portfolio used written options to manage against changes in securities.

Exercise Expiration Number of
Fund    Name of Issuer    Counterparty    Price    date    Contracts    Premium    Value
Capital Appreciation Value Trust CALLS
Allergan, Inc. Citigroup Global Markets, Inc. $170.00 Jan 2015 55 $55,248 ($90,474)
Anadarko Petroleum Corp. Citigroup Global Markets, Inc. 110.00 Jan 2015 18 7,405 (7,020)
Anadarko Petroleum Corp. Citigroup Global Markets, Inc. 115.00 Jan 2015 11 3,138 (3,036)
Apache Corp. Morgan Stanley Company, Inc. 90.00 Jan 2015 21 8,429 (14,594)
Apache Corp. Morgan Stanley Company, Inc. 92.50 Jan 2015 42 12,975 (23,100)
Apache Corp. Morgan Stanley Company, Inc. 95.00 Jan 2015 57 17,475 (24,225)
Apache Corp. Morgan Stanley Company, Inc. 97.50 Jan 2015 18 7,380 (5,760)
Apache Corp. Morgan Stanley Company, Inc. 100.00 Jan 2015 37 12,469 (8,917)
Apache Corp. Morgan Stanley Company, Inc. 105.00 Jan 2015 18 4,230 (2,303)
CVS Health Corp. Morgan Stanley Company, Inc. 77.50 Jan 2015 12 3,610 (4,860)
CVS Health Corp. Morgan Stanley Company, Inc. 80.00 Jan 2015 12 2,708 (3,138)
CVS Health Corp. Morgan Stanley Company, Inc. 90.00 Jan 2016 66 16,687 (16,687)
CVS Health Corp. Morgan Stanley Company, Inc. 95.00 Jan 2016 66 10,097 (10,097)
Danaher Corp. JPMorgan Clearing Corp. 80.00 Jan 2015 12 5,049 (2,010)
Danaher Corp. JPMorgan Clearing Corp. 85.00 Jan 2015 12 2,936 (720)
Danaher Corp. JPMorgan Clearing Corp. 90.00 Jan 2015 42 8,694 (840)
Duke Energy Corp. Citigroup Global Markets, Inc. 75.00 Jan 2016 126 36,317 (49,140)
Google, Inc. (Class A and C
shares)		 Merrill Lynch, Pierce, Fenner
& Smith, Inc.		 1,280.00 Jan 2015 1 7,987 (1,615)
Google, Inc. (Class A and C
shares)		 Merrill Lynch, Pierce, Fenner
& Smith, Inc.		 1,330.00 Jan 2015 1 6,095 (840)
Lowe's Companies, Inc. Morgan Stanley Company, Inc. 52.50 Oct 2014 9 2,079 (954)
  Lowe's Companies, Inc. Morgan Stanley Company, Inc. 55.00 Oct 2014 9 1,343 (117)
Lowe's Companies, Inc. Morgan Stanley Company, Inc. 52.50 Jan 2015 9 2,681 (2,088)
Lowe's Companies, Inc. Morgan Stanley Company, Inc.   55.00 Jan 2015 9 1,900 (1,094)
Lowe's Companies, Inc.   JPMorgan Clearing Corp. 55.00 Jan 2015 105 23,799 (12,758)
Lowe's Companies, Inc. Morgan Stanley Company, Inc. 60.00   Jan 2016   166   32,672   (32,672)
PepsiCo, Inc. Morgan Stanley Company, Inc. 100.00 Jan 2016 99 24,860 (33,908)
PepsiCo, Inc. Morgan Stanley Company, Inc. 105.00 Jan 2016 57 11,678 (11,678)

383


PepsiCo, Inc.       Morgan Stanley Company, Inc.       110.00       Jan 2016            57       7,306       (7,306)
Pfizer, Inc. Citigroup Global Markets, Inc. 32.00 Jan 2015 61 8,989 (1,556)
Pfizer, Inc. Citigroup Global Markets, Inc. 35.00 Jan 2015 61 3,777 (3)
Qualcomm, Inc. Citigroup Global Markets, Inc. 90.00 Jan 2016 104 18,096 (19,656)
State Street Corp. Morgan Stanley Company, Inc. 70.00 Jan 2015 14 6,098 (7,490)
State Street Corp. Morgan Stanley Company, Inc. 72.50 Jan 2015 14 4,738 (5,285)
TD Ameritrade Holding Corp. Citigroup Global Markets, Inc. 32.00 Oct 2014 106 12,402 (16,430)
TD Ameritrade Holding Corp. Citigroup Global Markets, Inc. 32.00 Nov 2014 159 21,041 (30,607)
TD Ameritrade Holding Corp. Citigroup Global Markets, Inc. 32.00 Jan 2015 397 70,996 (92,303)
TD Ameritrade Holding Corp. Citigroup Global Markets, Inc. 33.00 Jan 2015 426 68,450 (70,290)
TE Connectivity Ltd. JPMorgan Clearing Corp. 65.00 Oct 2014 16 2,059 (80)
Texas Instruments, Inc. Goldman Sachs & Company 50.00 Oct 2014 133 16,122 (798)
Texas Instruments, Inc. Citigroup Global Markets, Inc. 45.00 Jan 2015 350 70,053 (119,000)
Texas Instruments, Inc. Citigroup Global Markets, Inc. 50.00 Jan 2015 134 22,427 (10,921)
The Boeing Company Citigroup Global Markets, Inc. 145.00 Jan 2015 28 13,602 (1,344)
The Boeing Company Citigroup Global Markets, Inc. 150.00 Jan 2015 27 10,240 (716)
The Boeing Company Citigroup Global Markets, Inc. 155.00 Jan 2015 27 7,826 (365)
The Procter & Gamble
Company		 JPMorgan Clearing Corp. 85.00 Jan 2015 67 11,615 (9,883)
Thermo Fisher Scientific Citigroup Global Markets, Inc. 150.00 Jan 2016 26 9,589 (9,589)
TRW Automotive JPMorgan Clearing Corp. 90.00 Oct 2014 5 1,841 (5,475)
TRW Automotive   JPMorgan Clearing Corp. 95.00 Oct 2014   5 1,170   (3,400)
United Technologies Corp. Citigroup Global Markets, Inc. 120.00   Jan 2015 83 32,299 (1,536)
United Technologies Corp. Citigroup Global Markets, Inc.   125.00 Jan 2015 83   22,511 (623)
United Technologies Corp. Citigroup Global Markets, Inc. 120.00 Jan 2016 84 24,326 (24,326)
3,557 797,514 (803,627)

Options on Exchange-Traded Future Contracts

Global Bond Trust
The portfolio used interest rate swaptions to manage against anticipated interest rate changes and maintain diversity and liquidity of the portfolio.

Portfolio Name of Issuer Exercise Rate Expiration Date Number of Contracts Premium Value
Global Bond Trust       CALLS                              
3 Month Euribor Futures 99.50 Dec 2014 107 $70,490 ($141,904)
  10 Year US Treasury Notes Futures 126.50 Oct 2014 57 18,639 ($4,454)
$89,129 ($146,358)
PUTS              
3 Month Euribor Futures   99.50 Dec 2014 107 $90,872 -
$90,872 -

384


Real Return Bond Trust
The portfolio used interest rate swaptions to manage against anticipated interest rate changes and maintain diversity and liquidity of the portfolio.

Portfolio Name of Issuer Exercise Rate Expiration Date Number of Contracts Premium Value
Real Return Bond Trust       CALLS                                
Euro Bund Futures 150.50 Oct 2014 2 $515 ($834)
  $515 ($834)
  PUTS          
Euro Bund Futures   146.50 Oct 2014 2 $773   ($101)
$773 ($101)

Total Return Trust
The portfolio used interest rate swaptions to manage against anticipated interest rate changes and maintain diversity and liquidity of the portfolio.

Portfolio Name of Issuer Exercise Rate Expiration Date Number of Contracts Premium Value
Total Return Trust       CALLS                              
Euro Bund Futures 151.00 Dec 2014 48 $12,073 ($26,680)
$12,073 ($26,680)
PUTS
Euro Bund Futures 146.00 Dec 2014 48 $18,723 ($6,064)
$18,723 ($6,064)

Foreign Currency Options

Global Bond Trust
The portfolio used written options to manage against anticipated currency exchange rates and to gain exposure to foreign currencies.

Portfolio Description Counterparty Exercise Rate    Expiration Date Notional Amount Premium Value
Global Bond Trust   CALLS               
Australian Dollar versus U.S. Dollar Bank of America N.A. 0.83 Nov 2014 AUD 2,200,000 $10,376 ($351)
U.S. Dollar versus Mexican Peso Bank of America N.A. 13.45 Oct 2014 USD 2,300,000 11,040 (18,140)
U.S. Dollar versus Brazillian Real Bank of America N.A. 2.64 Jun 2015 USD 2,800,000 78,120 (132,322)
U.S. Dollar versus Brazillian Real BNP Paribas 2.54 Dec 2014 USD 5,600,000 57,652 (140,286)
U.S. Dollar versus Brazillian Real BNP Paribas 2.70 May 2015 USD 4,200,000 105,000   (159,965)
Australian Dollar versus U.S. Dollar Citibank N.A. 0.83 Nov 2014 AUD 4,100,000 16,121 (653)
  U.S. Dollar versus Brazillian Real   Citibank N.A. 2.60 Mar 2015 USD 2,800,000 50,120 (98,112)
U.S. Dollar versus Brazillian Real JPMorgan Chase Bank 2.40 Oct 2014 USD 2,500,000 14,588 (68,333)
U.S. Dollar versus Brazillian Real JPMorgan Chase Bank   2.39 Oct 2014 USD 1,600,000 8,640 (51,648)
U.S. Dollar versus Brazillian Real JPMorgan Chase Bank 2.38 Oct 2014 USD   5,600,000 32,816 (205,666)
U.S. Dollar versus Brazillian Real Mistsubishi Trust &
Bank Tokyo		 2.65   Jun 2015   USD 13,800,000   411,240 (625,954)
U.S. Dollar versus Brazillian Real UBS AG 2.74 Jun 2015 USD 4,100,000 92,250 (144,521)

385


U.S. Dollar versus Brazillian Real UBS AG 2.64 Jun 2015 USD 4,300,000 117,498 (206,705)
                                    $1,005,461    ($1,852,656)
PUTS
U.S. Dollar versus Japanese Yen Bank of America N.A. 93.00 Sep 2016 USD 7,100,000 $128,297 ($96,326)
U.S. Dollar versus Japanese Yen Bank of America N.A. 80.00 Feb 2019 USD 6,600,000 364,070 (194,977)
U.S. Dollar versus Japanese Yen Bank of America N.A. 80.00 Feb 2019 USD 3,600,000 177,884 (107,903)
U.S. Dollar versus Japanese Yen Barclays Bank PLC 91.00 Feb 2016 USD 3,300,000 78,672 (20,001)
U.S. Dollar versus Japanese Yen Barclays Bank PLC 94.75 Apr 2016 USD 6,600,000 199,364 (73,201)
U.S. Dollar versus Japanese Yen Barclays Bank PLC 94.75 Apr 2016 USD 1,000,000 29,320 (11,091)
U.S. Dollar versus Japanese Yen Barclays Bank PLC 97.00 Sep 2016 USD   2,100,000 42,189 (40,851)
U.S. Dollar versus Japanese Yen Citibank N.A. 93.00 Apr 2016 USD 2,000,000   48,036 (18,602)
U.S. Dollar versus Japanese Yen   Citibank N.A.   95.00 Sep 2016 USD 11,100,000 244,413 (180,197)
U.S. Dollar versus Japanese Yen Citibank N.A. 96.00   Sep 2016   USD 3,100,000 73,455 (55,081)
U.S. Dollar versus Japanese Yen Deutche Bank AG 92.00 May 2016 USD 2,700,000 63,126 (24,783)
U.S. Dollar versus Japanese Yen JPMorgan Chase Bank 91.00 Feb 2016 USD 8,400,000 212,802 (50,912)
    $1,661,628   ($873,925)

Real Return Bond Trust
The portfolio used written options to manage against anticipated changes in currency exchange rates and gain exposure to foreign currencies.

Portfolio Description Counterparty Exercise Rate Expiration Date Notional Amount Premium Value
Real Return Bond Trust Calls
  U.S. Dollar versus Brazilian Real   Deutsche Bank AG   2.68   Jul 2015   USD   270,000   $6,434   ($12,472)
U.S. Dollar versus Indian Rupee JPMorgan
Chase Bank		 65.00 Mar 2015 USD 300,000 3,517   (4,386)
$9,951 ($16,858)

Total Return Trust
The portfolio used written options to manage against anticipated changes in currency exchange rates and gain exposure to foreign currencies.

Portfolio Description Counterparty Exercise Rate Expiration Date Notional Amount Premium Value
Total Return Trust CALLS
  U.S. Dollar versus Brazilian Real    JPMorgan Securities    2.58    Oct 2014    USD   1,700,000    $16,405    ($15,932)
U.S. Dollar versus Brazilian Real BNP Paribas 2.59 Oct 2014   USD 2,700,000 23,895 (23,895)
$40,300 ($39,827)
PUTS
U.S. Dollar versus Japanese Yen Citibank N.A. 99.00 Sep 2015 USD   4,100,000 $33,698 ($33,698)
  U.S. Dollar versus Japanese Yen   Bank of America N.A. 80.00   Feb 2019 USD 1,500,000 83,775 (44,313)
U.S. Dollar versus Japanese Yen Bank of America N.A.   97.00 Nov 2014 USD 3,700,000 5,106 (22)
U.S. Dollar versus Japanese Yen Barclays Capital 97.00 Nov 2014 USD 2,200,000 2,750 (13)
U.S. Dollar versus Japanese Yen UBS Securities LLC 98.00 Nov 2014 USD 2,200,000 4,620 (29)
                            $129,949   ($78,075)

386


Interest Rate Swaptions

An interest rate swaption is an option to enter into an interest rate swap.

Global Bond Trust
The portfolio used interest rate swaptions to manage duration of the portfolio, to manage against anticipated interest rate changes and maintain diversity and liquidity of the portfolio.

Pay/Receive
Floating Exercise Expiration Notional
Fund Description Counterparty Floating Rate Index Rate Rate Date Amount Premium Value
Global Bond Trust    PUTS                        
  5-Year Interest
Rate Swap		   Citibank N.A.   3-Month USD LIBOR   Receive   2.50%   Sep 2015    USD   15,100,000   $284,623   ($239,589)
5-Year Interest
Rate Swap		 Bank of America N.A. 3-Month USD LIBOR Receive 2.50% Sep 2015    USD 30,000,000 570,000 (476,004)
                                  $854,623   ($715,593)

Real Return Bond Trust
The portfolio used interest rate swaptions to manage duration, manage against anticipated interest rate changes and maintain diversity and liquidity of the portfolio.

Pay/Receive
Floating Exercise Expiration Notional
Portfolio    Description    Counterparty    Floating Rate Index    Rate    Rate    Date       Amount    Premium    Value
Real Return Bond Trust   PUTS          
5-Year Interest
Rate Swap		 Goldman Sachs
Capital Markets, L.P.		 6-Month EURIBOR Receive 1.235%   Nov 2014   EUR 2,200,000 $15,305   -
$15,305 -

387


Total Return Trust
The portfolio used interest rate swaptions to manage duration, manage against anticipated interest rate changes and maintain diversity and liquidity.

Pay/Receive
Floating Exercise Expiration Notional
Portfolio    Description    Counterparty    Floating Rate Index    Rate    Rate    Date       Amount    Premium    Value
Total Return Trust CALLS
  5-Year Interest
Rate Swap		 Deutsche Bank
Securities		   3-Month USD LIBOR Receive 1.65% Nov 2014 USD 48,100,000 $76,960   ($9,610)
5-Year Interest
Rate Swap		   Deutsche Bank
Securities		 3-Month USD LIBOR Receive 1.70% Dec 2014 USD 8,600,000 18,060 (4,449)
5-Year Interest
Rate Swap		 JPMorgan
Securities		 3-Month USD LIBOR Receive 1.70%   Nov 2014 USD   13,000,000   24,700 (4,688)
5-Year Interest
Rate Swap		 Morgan Stanley
Co., Inc.		 3-Month USD LIBOR   Receive   1.80% Dec 2014   USD 36,800,000 65,320 (43,435)
5-Year Interest
Rate Swap		 Goldman Sachs
& Co.		 3-Month USD LIBOR Receive 1.80% Dec 2014 USD 14,900,000 26,552 (17,586)
10-Year Interest
Rate Swap		 Morgan Stanley
Co., Inc.		 3-Month USD LIBOR Receive 2.55% Oct 2014 USD 40,600,000 154,280 (55,492)
10-Year Interest
Rate Swap		 Goldman Sachs
Capital		 6-Month EURIBOR Receive 1.20% Jan 2015 EUR 4,000,000 21,639 (49,228)
10-Year Interest
Rate Swap		 Deutsche Bank
AG		 6-Month EURIBOR Receive 0.95% Mar 2015 EUR 4,900,000 12,699 (15,444)
$400,210 ($199,932)
PUTS
5-Year Interest
Rate Swap		 Goldman Sachs
& Co.		 3-Month USD LIBOR Receive 2.10% Dec 2014 USD 14,900,000 $74,500 ($62,957)
5-Year Interest
Rate Swap		 Deutsche Bank
Securities		 3-Month USD LIBOR Receive 2.05% Dec 2014 USD 8,600,000 38,786 (46,056)
5-Year Interest
Rate Swap		 JPMorgan
Securities		 3-Month USD LIBOR Receive 2.05% Nov 2014 USD 13,000,000 44,525 (53,464)
5-Year Interest
Rate Swap		 Morgan Stanley
Co., Inc.		 3-Month USD LIBOR Receive 2.15% Dec 2014 USD 36,800,000 139,840 (123,751)
5-Year Interest
Rate Swap		 Morgan Stanley
Co., Inc.		 3-Month USD LIBOR Receive 2.60% Sep 2015 USD 22,100,000 290,063 (294,889)
10-Year Interest
Rate Swap		 Morgan Stanley
Co., Inc.		 3-Month USD LIBOR Receive 2.80% Feb 2015 USD 14,600,000 232,870 (197,777)
10-Year Interest
Rate Swap		 Morgan Stanley
Co., Inc.		 3-Month USD LIBOR Receive 2.85% Nov 2014 USD 94,800,000 613,134 (347,404)
10-Year Interest
Rate Swap		 JPMorgan
Securities		 3-Month USD LIBOR Receive 2.80% Nov 2014 USD 48,000,000 231,600 (237,374)
10-Year Interest
Rate Swap		 Deutsche Bank
Securities		 3-Month USD LIBOR Receive 2.85% Nov 2014 USD 48,100,000 264,550 (176,267)
10-Year Interest
Rate Swap		 Morgan Stanley
Co., Inc.		 3-Month USD LIBOR Receive 2.95% Oct 2014 USD 40,600,000 187,775 (5,103)
10-Year Interest
Rate Swap		 Goldman Sachs
Capital		 6-Month EURIBOR Receive 1.60% Jan 2015 EUR 4,000,000 42,196 (7,455)
10-Year Interest
Rate Swap		 Deutsche Bank
AG		 6-Month EURIBOR Receive 1.55% Mar 2015 EUR 4,900,000 40,638 (26,819)
$2,200,477 ($1,579,316)

Credit Default Swaptions

A credit default swaption is an option to enter into a credit default swap.

Global Bond Trust
The portfolio used credit default swaptions to take a long position in the exposure of the benchmark credit.

Buy/Sell Exercise Expiration Notional
Portfolio     Description     Counterparty     Index     Protection     Rate     Date         Amount     Premium     Value
Global Bond Trust PUTS
  5-Year Credit
Default Swap		 JPMorgan
Chase Bank		 CDX IG22 Sell   0.90% Dec 2014 USD 3,500,000 $4,900 ($3,568)
5-Year Credit
Default Swap		   Goldman Sachs
International		   CDX ITRAXX
MAIN21		 Sell 0.85%   Dec 2014   USD   8,000,000   20,734 (10,784)
5-Year Credit
Default Swap		 Goldman Sachs
International		 CDX ITRAXX
MAIN21		   Sell 0.95% Dec 2014 USD 10,300,000 19,399 (8,378)
$45,033 ($22,730)

388


Real Return Bond Trust
The portfolio used credit default swaptions to take a long position in the exposure of the benchmark credit.

Buy/Sell Exercise Expiration Notional
Portfolio     Description     Counterparty     Index     Protection     Rate     Date         Amount     Premium     Value
Real Return Bond Trust PUTS      
  5-Year Credit
Default Swap		 Citibank N.A CDX.IG22   Sell   0.90% Dec 2014   USD   200,000   $380   ($204)
5-Year Credit
Default Swap		 Citibank N.A CDX.IG22 Sell 0.95% Dec 2014 USD 100,000 204 (81)
5-Year Credit
Default Swap		 Citibank N.A CDX.IG22 Sell 1.00% Dec 2014 USD 100,000 197 (65)
5-Year Credit
Default Swap		 Citibank N.A CDX.IG22 Sell 0.85% Dec 2014 USD 800,000 940 (1,030)
5-Year Credit
Default Swap		 Goldman Sachs
International		 CDX.IG22 Sell 0.90% Dec 2014 USD 100,000 93 (102)
5-Year Credit
Default Swap		 Goldman Sachs
International		 ITRAXX.MAIN21 Sell 0.95% Dec 2014 EUR 600,000 993 (488)
5-Year Credit
Default Swap		 JPMorgan
Chase Bank		 CDX.IG22 Sell 0.90% Dec 2014 USD 200,000 365 (204)
5-Year Credit
Default Swap		 JPMorgan
Chase Bank		 CDX.IG22 Sell 0.95% Dec 2014 USD 300,000 532 (243)
5-Year Credit
Default Swap		 Goldman Sachs
International		 CDX.IG22 Sell 0.90% Jan 2015 USD 200,000 294 (318)
                                    $3,998   ($2,735)

Total Return Trust
The portfolio used credit default swaptions to take a long position in the exposure of the benchmark credit and to capture income/premium.

Buy/Sell Exercise Expiration Notional
Portfolio     Description     Counterparty     Index     Protection     Rate     Date         Amount     Premium     Value
Total Return Trust PUTS
  5-Year Credit
Default Swap		 Bank of America   CDX.O Sell 0.85%   Dec 2014 USD 6,400,000 $7,520 ($8,241)
5-Year Credit
Default Swap		   Citibank N.A. CDX.O   Sell   0.90% Dec 2014   USD   2,800,000   3,220 (3,220)
5-Year Credit
Default Swap		 Citibank N.A. CDX.O Sell 0.95% Dec 2014 USD 4,200,000 5,250 (3,396)
$15,990 ($14,857)

Inflation Floors (OTC)

Inflation floors are instruments where in return for a premium, one party agrees to make payments to the other to the extent that inflation falls below a specified rate (based on the Consumer Price Index or other designated measure), or “floor”.

Global Bond Trust
The portfolio used inflation floors to manage duration of the portfolio and to manage against anticipated interest rate changes.

Portfolio     Description     Counterparty     Strike Index     Exercise Index     Expiration
Date		         Notional
Amount		     Premium     Value
Global Bond Trust Floor- OTC Citibank N.A.   217.965 Maximum of ((1+0.0%)10 - Sep 2020 USD 2,000,000 $25,800 ($312)
  CPURNSA         (Index Final/Index Initial)) or        
Index $0  
$25,800 ($312)

389


Real Return Bond Trust
The portfolio used inflation floors to manage duration of the portfolio and to manage against anticipated interest rate changes.

Portfolio     Description     Counterparty     Initial Index     Exercise Index     Expiration Date         Notional
Amount		     Premium     Value
Real Return Bond   Floor- OTC BNP Paribas 238.343   Maximum of ((1+0.0%)10 - Mar 2018 USD $100,000 $860 ($245)
Trust CPURNSA       (Index Final/Index Initial)) or          
Index $0
Floor- OTC Citibank N.A. 217.965 Maximum of ((1+0.0%)10 - Sep 2020 USD 200,000 2,580 (31)
CPURNSA (Index Final/Index Initial)) or
Index $0
Floor- OTC Citibank N.A. 216.687 Maximum of ((1+0.0%)10 - Apr 2020 USD 2,600,000 23,160 (328)
CPURNSA (Index Final/Index Initial)) or
Index $0
$26,600 ($604)

Total Return Trust
The portfolio used inflation floors to manage duration of the portfolio, manage against anticipated interest rate changes and as a substitute for securities purchased.

Portfolio   Description   Counterparty   Strike Index   Exercise Index   Expiration Date     Notional
Amount		   Premium   Value
Total Return Trust Floor- OTC Deutsche Bank AG 215.949 Maximum of ((1+0.0%)10 - Mar 2020 USD 2,600,000 $19,500 ($297)
CPURNSA (Index Final/Index Initial)) or
Index $0
Floor- OTC Citibank AG  215.949 Maximum of ((1+0.0%)10 - Mar 2020 USD 7,500,000 63,460 (858)
CPURNSA   (Index Final/Index Initial)) or
Index $0
Floor- OTC Citibank AG 216.687   Maximum of ((1+0.0%)10 - Apr 2020 USD 17,900,000 159,640 (2,257)
  CPURNSA (Index Final/Index Initial)) or
Index   $0
Floor- OTC Citibank AG 217.965 Maximum of ((1+0.0%)10 -   Sep 2020   USD 6,900,000 89,010 (1,075)
CPURNSA (Index Final/Index Initial)) or  
Index $0
Floor- OTC Deutsche Bank AG 218.011 Maximum of ((1+0.0%)10 - Oct 2020 USD 7,100,000 69,580 (1,189)
CPURNSA (Index Final/Index Initial)) or  
Index $0
$401,190 ($5,676)

Inflation Caps (OTC)

Inflation caps are instruments where in return for a premium, one party agrees to make payments to the other to the extent that interest rate exceeds a specified rate (based on the Consumer Price Index or other designated measure) or “cap”.

Real Return Bond Trust
The fund used inflation floors to manage duration of the fund and to manage against anticipated interest rate changes.

Initial Expiration Notional
Portfolio    Description    Counterparty    Index    Exercise Index    Date       Amount    Premium    Value
Real Return Bond Trust Floor- OTC JPMorgan Chase Bank 233.916 Maximum of ((1+0.0%)10 - Apr 2024 USD   600,000 $4,365 ($1,862)
CPURNSA     (Index Final/Index Initial))    
  Index   or $0    
Floor- OTC JPMorgan Chase Bank 234.781 Maximum of ((1+0.0%)10 - May 2024 USD 100,000 695 (321)
CPURNSA (Index Final/Index Initial))
Index or $0
$5,060 ($2,183)

390


Swaps. Swap agreements are agreements between a portfolio and counterparty to exchange cash flows, assets, foreign currencies or market-linked returns at specified intervals. Swap agreements are privately negotiated in the OTC market (OTC swaps) or may be executed on a registered commodities exchange (centrally cleared swaps). Swaps are marked-to-market daily and the change in value is recorded as a component of unrealized appreciation/depreciation of swap contracts. The value of the swap will typically impose collateral posting obligations on the party that is considered out-of-the-money on the swap.

Upfront payments made/received by the portfolios are amortized/accreted for financial reporting purposes. A termination payment by the counterparty or a portfolio is recorded as realized gain or loss, as well as the net periodic payments received or paid by a portfolio.

Entering into swap agreements involves, to varying degrees, elements of credit, market and documentation risk that may amount to values that are in excess of the amounts recognized on the Statement of assets and liabilities. Such risks involve the possibility that there will be no liquid market for the swap, or that a counterparty may default on its obligation or delay payment under the swap terms. The counterparty may disagree or contest the terms of the swap. Market risks may also accompany the swap, including interest rate risk. A portfolio may also suffer losses if it is unable to terminate or assign outstanding swaps or reduce its exposure through offsetting transactions.

Interest rate swaps. Interest rate swaps represent an agreement between a portfolio and a counterparty to exchange cash flows based on the difference between two interest rates applied to a notional amount. The payment flows are usually netted against each other, with the difference being paid by one party to the other. The portfolio settles accrued net interest receivable or payable under the swap contracts at specified, future intervals.

The following tables summarize the interest rate swap contracts held as of September 30, 2014. In addition, the tables detail how the portfolios used interest rate swap contracts during the period ended September 30, 2014.

391


Global Bond Trust
The portfolio used interest rate swaps to manage against anticipated interest rate changes and to manage duration.

Payments Unamortized Unrealized
    Notional     USD Notional   Payments Received   Maturity   Upfront Appreciation
Portfolio   Counterparty   Amount   Currency   Amount   Made by Fund   by Fund   Date   Payment   (Depreciation) Market Value
Global
Bond
Trust
Bank of
America N.A.		 313,400,000 MXN $23,824,094 MXN-TIIE-
Banxico		 Fixed 4.30% Sep 2016 $17,169 ($72,027) ($54,858)
Barclays
Capital		 12,000,000 MXN 924,410 MXN-TIIE-
Banxico		 Fixed 6.99% May 2034 - (7,622) (7,622)
Deutsche
Bank AG		 13,323,431 BRL 8,008,565 BRL-CDI   Fixed 10.91% Jan 2017 (25,250) (51,301) (76,551)
  Goldman
Sachs
International		   50,016,303   BRL   30,578,196   BRL-Interbank-
Deposit-Rate-
Annualized		 Fixed 10.91% Jan 2017 (101,033) (186,339) (287,372)
UBS AG 31,705,491 BRL 19,216,925 BRL-Interbank-
Deposit-Rate-
Annualized		 Fixed 10.91% Jan 2017 (17,858) (164,308) (182,166)
UBS AG 48,600,000 MXN 3,657,779 MXN-TIIE-
Banxico		 Fixed 5.61% Jul 2021 (13,399) (42,885) (56,284)
Exchange
Cleared
Swaps
200,000 EUR 258,800 EUR-EURIBOR-
Reuters		 Fixed 0.50% Mar 2020 (1,232) 798 (434)
11,700,000 EUR 15,161,450 Fixed 1.25% EUR-EURIBOR-
Reuters		 Mar 2025 101,325 (116,790) (15,465)
  4,500,000 EUR 5,793,974 Fixed 2.00% EUR-EURIBOR-
Reuters		 Mar 2045 94,768 (165,380) (70,612)
87,300,000 GBP 148,095,391 Fixed 1.75% GBP-LIBOR-BBA Dec 2016 282,204 (606,993) (324,789)
23,100,000 GBP 37,211,790 Fixed 1.50% GBP-LIBOR-BBA Dec 2016 (125,032) 53,090 (71,942)
3,300,000 GBP 5,350,455 Fixed 1.50% GBP-LIBOR-BBA Mar 2017 6,956 1,759 8,715
  14,800,000 GBP 24,235,001 Fixed 2.25% GBP-LIBOR-BBA Dec 2019 (36,514) (157,434) (193,948)
2,300,000 GBP 3,820,071 Fixed 3.00% GBP-LIBOR-BBA Sep 2045 (91,788) 69,320 (22,468)
  4,610,000,000 JPY 45,305,606   JPY-LIBOR-BBA Fixed 1.50% Jun 2033   1,259 1,333,958 1,335,217
322,800,000 MXN 24,428,636 MXN-TIIE-
Banxico		 Fixed 4.30% Sep 2016 (39,652) (16,852)   (56,504)
258,300,000 MXN 19,500,615 MXN-TIIE-
Banxico		   Fixed 4.31% Sep 2016 (43,132) (3,399) (46,531)
10,000,000 MXN 770,342 MXN-TIIE-
Banxico		 Fixed 5.64%   Jun 2021 - (9,124) (9,124)
167,700,000 MXN   12,947,178 MXN-TIIE-
Banxico		 Fixed 5.61% Jul 2021 55,432 (249,023) (193,591)
27,200,000 MXN 2,106,935 MXN-TIIE-
Banxico		 Fixed 5.63% Jul 2021 1,128 (30,340) (29,212)
197,000,000 USD 197,000,000 Fixed 1.00% USD-LIBOR-BBA Sep 2016 (743,933) (56,174) (800,107)
9,300,000   USD 9,300,000 Fixed 0.75% USD-LIBOR-BBA Dec 2016 25,599 21,742 47,341
3,800,000 USD 3,800,000 Fixed 1.00% USD-LIBOR-BBA Dec 2016 (4,986)   5,418 432
39,500,000 USD 39,500,000 Fixed 1.25% USD-LIBOR-BBA Mar 2017 (39,500) 36,672 (2,828)
92,300,000 USD 92,300,000 Fixed 1.25% USD-LIBOR-BBA Jun 2017 250,444 211,979 462,423
55,100,000 USD 55,100,000 Fixed 2.50% USD-LIBOR-BBA Jun 2021 (276,119) (924,052) (1,200,171)
37,000,000 USD 37,000,000 USD-LIBOR-BBA Fixed 3.00% Jun 2023 (2,068,448) 1,572,060 (496,388)
5,200,000 USD 5,200,000 USD-LIBOR-BBA Fixed 4.50% Jun 2024 (27,810) 263,999 236,189
2,900,000 USD 2,900,000 Fixed 3.00% USD-LIBOR-BBA Dec 2024 (30,920) (41,170) (72,090)
$873,296,213 ($2,850,322) $669,582 ($2,180,740)

392


Investment Quality Bond Trust
The portfolio used interest rate swaps to manage against anticipated interest rate changes.

Unamortized
USD Payments Payments Upfront Unrealized
Notional Notional Made by Received by Maturity Payment Paid Appreciation
Portfolio     Counterparty     Amount     Currency     Amount     Fund/Portfolio     Fund/Portfolio     Date     (Received)     (Depreciation)     Market Value
Investment
Quality		    
Bond Trust        
JPMorgan
Chase
Bank, N.A.		 5,100,000 USD   $5,100,000 Fixed 4.318% 3 Month LIBOR Dec 2028 - ($923,497) ($923,497)
JPMorgan
Chase
Bank, N.A.		 2,100,000 USD 2,100,000 Fixed 3.425% 3 Month LIBOR Jun 2039 - (120,292) (120,292)
$7,200,000 - ($1,043,789) ($1,043,789)

Real Return Bond Trust
The portfolio used interest rate swaps to manage against anticipated interest rate changes and to manage duration of the portfolio.

Unamortized
USD Payments Payments Upfront Unrealized
Notional Notional Made by Received by Maturity Payment Paid Appreciation
Portfolio   Counterparty   Amount   Currency   Amount   Portfolio   Portfolio   Date   (Received)   (Depreciation)   Market Value
Real Return
Bond
Trust  
Credit Suisse
International		 595,517   BRL $699,270 BRL-Interbank-
Deposit-Rate-
Annualized		 Fixed 11.50% Jan 2021   $8,229 ($18,637) ($10,408)
Deutsche
Bank AG		 688,793 BRL 786,370 BRL-Interbank-
Deposit-Rate-
Annualized		 Fixed 11.16% Jan 2021 298   (20,123) (19,825)
HSBC Bank 1,139,973 BRL   726,942   BRL-Interbank-
Deposit-Rate-
Annualized		 Fixed 10.91% Jan 2017 36 (6,586) (6,550)
Morgan Stanley
Capital Services		 6,331,368 BRL 3,919,319 BRL-Interbank-
Deposit-Rate-
Annualized		 Fixed 8.22% Jan 2017 (435) (261,710) (262,145)
UBS AG 1,315,384 BRL 819,257 BRL-Interbank-
Deposit-Rate-
Annualized		 Fixed 8.15% Jan 2017 - (55,911) (55,911)
Exchange
Cleared
Swaps
200,000,000 JPY 2,025,595 Fixed 1.00% JPY-LIBOR-BBA Sep 2023 (15,964) (54,691) (70,655)
2,600,000 USD 2,600,000 Fixed 3.50% 3 Month LIBOR Dec 2043 102,310 (286,788) (184,478)
2,500,000 USD 2,500,000 Fixed 3.75% USD-LIBOR-BBA Jun 2044 (83,701) (221,486) (305,187)
1,100,000 EUR 1,440,955 Fixed 2.00% EUR-EURIBOR-
Reuters		 Mar 2045 12,624 (29,885) (17,261)
10,000,000 MXN 754,959 MXN-TIIE-
Banxico		 Fixed 4.310% Sep 2016 (1,670) (131) (1,801)
                $16,272,667               $21,727   ($955,948)   ($934,221)

393


Total Return Trust
The portfolio used interest rate swaps to manage against anticipated interest rate changes and to manage duration.

Unamortized
Payments Payments            Upfront Unrealized
Notional USD Notional Made by Received Maturity Payment Paid Appreciation Market
Portfolio    Counterparty    Amount    Currency    Amount    Portfolio    by Portfolio    Date    (Received)    (Depreciation)    Value
Total Return
Trust		                                                                                                              
Bank of
America, N.A.		 2,877,953 BRL $1,883,986 BRL-
Interbank-
Deposit-
Rate-
Annualized		 Fixed 8.86% Jan 2017 $2,973 ($86,214 ) ($83,241 )
Bank of
America, N.A.		 44,000,000 MXN 3,289,966 MXN-TIIE-
Banxico		 Fixed 5.70% Jan 2019 (10,070 ) 83,009 72,939
Bank of
America, N.A.		 13,128,711 BRL 15,072,277 BRL-CDI Fixed
12.055%		 Jan 2021 40,852 1,395 42,247
Barclays
Bank PLC		 900,000 MXN 69,684 MXN-TIIE-
Banxico		 Fixed 5.00% Sep 2017 (312 ) 1,095 783
Barclays
Bank PLC		 100,000 MXN 7,757 MXN-TIIE-
Banxico		 Fixed 5.75% Jun 2023 (250 ) 20 (230 )
Barclays
Bank PLC		 200,000 MXN 15,512 MXN-TIIE-
Banxico		 Fixed 6.00% Jun 2023 (302 ) 102 (200 )
  BNP Paribas 100,000 MXN 7,877 MXN-TIIE-
Banxico		 Fixed 5.75% Jun 2023 (113 ) (117 ) (230 )
Credit Suisse
International		 1,458,746 BRL 1,677,578 BRL-CDI Fixed
12.055%		 Jan 2021 6,353 (1,659 ) 4,694
Deutsche
Bank AG		 1,502,478 BRL 1,006,543 BRL-
Interbank-
Deposit-
Rate-
Annualized		 Fixed 9.13% Jan 2017 7,165 (51,120 ) (43,955 )
Deutsche
Bank AG		 200,000 MXN 15,676 MXN-TIIE-
Banxico		 Fixed 5.75% Jun 2023 (295 ) (166 ) (461 )
Deutsche
Bank AG		 14,000,000 MXN 1,046,807 MXN-TIIE-
Banxico		 Fixed 5.70% Jan 2019 (4,988 ) 28,196 23,208
Deutsche
Bank AG		 20,000,000 MXN 1,541,426 MXN-TIIE-
Banxico		 Fixed 6.810% Jun 2034 2,189 (44,837 ) (42,648 )
Deutsche
Bank AG		 782,742 BRL 897,593 BRL-CDI Fixed
12.055%		 Jan 2021 (3,381 ) (5 ) (3,386 )
Goldman
Sachs		 1,579,259 BRL 1,041,796 BRL-
Interbank-
Deposit-
Rate-
Annualized		 Fixed 9.095% Jan 2017 - (47,594 ) (47,594 )
Goldman
Sachs		 200,000 MXN 15,555 MXN-TIIE-
Banxico		 Fixed 5.75% Jun 2023 (424 ) (37 ) (461 )
Goldman
Sachs		 14,000,000 MXN 1,046,807 MXN-TIIE-
Banxico		 Fixed 5.70% Jan 2019 (3,467 ) 26,675 23,208
HSBC Bank
USA		 40,000,000 MXN 2,868,671 MXN-TIIE-
Banxico		 Fixed 5.500% Sep 2017 (9,214 ) 86,535 77,321
HSBC Bank
USA		 2,600,000 MXN 202,180 MXN-TIIE-
Banxico		 Fixed 5.00% Sep 2017 (1,086 ) 3,348 2,262
HSBC Bank
USA		 11,800,000 MXN 921,594 MXN-TIIE-
Banxico		 Fixed 5.50% Sep 2022 (17,972 ) (15,830 ) (33,802 )
HSBC Bank
USA		 7,800,000 MXN 611,285 MXN-TIIE-
Banxico		 Fixed 4.75% Feb 2018 (4,300 ) 3,446 (854 )
HSBC Bank
USA		 2,568,053 BRL 1,708,543 BRL-
Interbank-
Deposit-
Rate-
Annualized		 Fixed 8.95% Jan 2017 (15 ) (81,395 ) (81,410 )
HSBC Bank
USA		 300,000 MXN 23,631 MXN-TIIE-
Banxico		 Fixed 5.75% Jun 2023 (419 ) (275 ) (694 )
HSBC Bank
USA		 92,000,000 MXN 7,135,517 MXN-TIIE-
Banxico		 Fixed 5.00% Jun 2018 (109,576 ) 131,752 22,176
JPMorgan
Chase
Bank, N.A.		 300,000 MXN 22,662 MXN-TIIE-
Banxico		 Fixed 6.00% Jun 2023 (956 ) 656 (300 )
JPMorgan
Chase
Bank, N.A.		 14,000,000 MXN 1,046,807 MXN-TIIE-
Banxico		 Fixed 5.70% Jan 2019 (4,076 ) 27,284 23,208
Morgan
Stanley
Capital
Services, Inc.		 28,500,000 MXN 2,210,459 MXN-TIIE-
Banxico		 Fixed 5.00% Jun 2018 (34,269 ) 41,139 6,870
UBS AG 2,874,494 BRL 1,903,414 BRL-
Interbank-
Deposit-
Rate-
Annualized		 Fixed 8.90% Jan 2017 1,218 (92,735 ) (91,517 )
UBS AG 4,144,692 BRL 4,611,680 BRL-CDI Fixed 11.68% Jan 2021 (45,085 ) 1,438 (43,647 )

394


Exchange Cleared
Swaps                                                                                                                                     
51,500,000 USD 51,500,000 Fixed
2.75%		 3 month
Libor		 Jun 2043 3,628,017 453,949 4,081,966
122,100,000 USD 122,100,000 Federal
Fund
Effective
Rate US		 Fixed 1.00% Oct 2017 (143,913 ) (1,350,054 ) (1,493,967 )
9,000,000 USD 9,000,000 Fixed
3.50%		 3 month
Libor		 Dec 2043 327,706 (966,284 ) (638,578 )
207,600,000 USD 207,600,000 3 month
Libor		 Fixed 3.00% Sep 2017 2,225,934 (762,022 ) 1,463,912
142,000,000 USD 142,000,000 USD-
LIBOR-
BBA		 Fixed 1.75% Jun 2017 3,812 (396,754 ) (392,942 )
22,300,000 MXN 1,683,793 MXN-TIIE-
Banxico		 Fixed 5.500% Sep 2022 (61,552 ) (2,329 ) (63,881 )
590,000,000 MXN 45,331,974 MXN-TIIE-
Banxico		 Fixed 6.810% Jun 2034 431,524 (1,683,639 ) (1,252,115 )
119,500,000 USD 119,500,000 Fixed 3.0% USD-LIBOR-
BBA		 Jun 2043 6,529,182 (3,034,879 ) 3,494,303
137,000,000 MXN 10,332,451 MXN-TIIE-
Banxico		 Fixed 5.5% Sep 2017 280,181 (6,587 ) 273,594
1,300,000 USD 1,300,000 Fixed
2.55%		 USD-LIBOR-
BBA		 Sep 2024 (5,233 ) 12,745 7,512
604,100,000 MXN 45,449,128 MXN-TIIE-
Banxico		 Fixed 5.6% Sep 2016 1,385,425 37,294 1,422,719
3,500,000 MXN 264,775 MXN-TIIE-
Banxico		 Fixed 5% Sep 2017 3,531 (212 ) 3,319
  11,100,000 MXN 835,991 MXN-TIIE-
Banxico		 Fixed
6.35%		 Jun 2021 25,502 (1,097 ) 24,405
31,500,000 MXN 2,372,408 MXN-TIIE-
Banxico		 Fixed 5% Jun 2018 6,359 2,521 8,880
                $811,173,803               $14,446,655     ($7,683,242 )   $6,763,413  

395


Currency swaps. A currency swap is an agreement between a portfolio and a counterparty to exchange cash flows based on the notional difference among two or more currencies.

The following tables summarize the contracts held as of September 30, 2014, and the range of notional contracts amounts held by the portfolios during the period ended September 30, 2014. In addition, the tables detail how the portfolios used currency swap contracts during the period ended September 30, 2014.

Global Bond Trust
The portfolio used currency swaps to manage against anticipated currency exchange rate changes and to maintain diversity and liquidity of the portfolio.

Unamortized
Notional Notional Upfront
Amount of Amount Payment Unrealized
                                      Maturity Currency of Currency Paid Appreciation
Fund    Counterparty    Receive    Pay    Date    Received    Delivered    (Received)    (Depreciation)    Market Value

Global
Bond Trust

                
  Bank of
America
N.A		 Floating rate equal to 3 Month EUR-LIBOR less 0.100% based on the notional amount of the currency received Floating rate equal to 3 Month USD-LIBOR based on the notional amount of currency delivered Dec 2019 EUR 3,500,000 $4,611,250 $1,393 ($184,288) ($182,895)
Citi Bank
N.A.		 Floating rate equal to 3 Month EUR-LIBOR less 0.100% based on the notional amount of the currency received Floating rate equal to 3 Month USD-LIBOR based on the notional amount of currency delivered Dec 2019 EUR 19,000,000 25,032,500 ($104,973 ) ($887,884) ($992,857)
Goldman
Sachs
International		 Floating rate equal to 3 Month EUR-LIBOR less 0.100% based on the notional amount of the currency received Floating rate equal to 3 Month USD-LIBOR based on the notional amount of currency delivered Dec 2019 EUR 9,900,000 13,045,230 ($123,911 ) ($395,400) ($519,311)
BNP Paribas Floating rate equal to 3 Month EUR-LIBOR less 0.100% based on the notional amount of the currency received Floating rate equal to 3 Month USD-LIBOR based on the notional amount of currency delivered Dec 2019 EUR 24,000,000 31,648,200 ($160,783 ) ($1,121,552) ($1,282,335)
Deutsche
Bank AG		 Floating rate equal to 3 Month EUR-LIBOR less 0.225% based on the notional amount of the currency received Floating rate equal to 3 Month USD-LIBOR based on the notional amount of currency delivered Dec 2019 EUR   13,600,000 17,918,000 ($268,197 ) ($442,479) ($710,676)
Credit Suisse
International		 Floating rate equal to 3 Month CHF-LIBOR less 0.223% based on the notional amount of the currency received Floating rate equal to 3 Month USD-LIBOR based on the notional amount of currency delivered Dec 2016 CHF 1,900,000 2,028,181 $10,446 ($50,474) ($40,028)
UBS AG Floating rate equal to 3 Month CHF-LIBOR less 0.223% based on the notional amount of the currency received Floating rate equal to 3 Month USD-LIBOR based on the notional amount of currency delivered Dec 2016 CHF 5,500,000 5,877,324 $12,930 ($135,366) ($122,436)
UBS AG Floating rate equal to 3 Month CHF-LIBOR less 0.230% based on the notional amount of the currency received Floating rate equal to 3 Month USD-LIBOR based on the notional amount of currency delivered Dec 2016 CHF 3,700,000 3,946,246 $3,159 ($78,330) ($75,171)
Deutsche
Bank AG		 Floating rate equal to 3 Month CHF-LIBOR less 0.219% based on the notional amount of the currency received Floating rate equal to 3 Month USD-LIBOR based on the notional amount of currency delivered Dec 2016 CHF 3,700,000 3,961,456 ($12,051 ) ($77,422) ($89,473)
UBS AG Floating rate equal to 3 Month CHF-LIBOR less 0.210% based on the notional amount of the currency received Floating rate equal to 3 Month USD-LIBOR based on the notional amount of currency delivered Dec 2016 CHF 3,700,000 3,953,836 $2,960 ($84,142) ($81,182)
$112,022,223 ($639,027 ) ($3,457,337) ($4,096,364)

396


Credit default swaps. Credit default swaps (CDS) involve the exchange of a fixed rate premium (paid by the Buyer), for protection against the loss in value of an underlying debt instrument, referenced entity or index, in the event of a defined credit event (such as payment default or bankruptcy). Under the terms of the swap, one party acts as a “guarantor” (the Seller), receiving the premium and agreeing to contingent payments that are specified within the credit default agreement. A portfolio may enter into CDS in which it may act as either Buyer or Seller. By acting as the Seller, the portfolio may incur economic leverage since it would be obligated to pay the Buyer the notional amount of the contract in the event of a default. The amount of loss in such case could be significant, but would typically be reduced by any recovery value on the underlying credit.

The following tables summarize the credit default swap contracts the portfolios held as of September 30, 2014. In addition, the tables detail how the portfolios used credit default swap contracts as buyer of protection.

397


Global Bond Trust
The portfolio used credit default swaps to manage against potential credit events.

Unamortized
Upfront
(Pay)/ Payment Unrealized
Reference Notional USD Received Maturity Paid Appreciation Market
Portfolio    Counterparty    Obligation    Amount    Currency    Notional    Fixed Rate    Date    (Received)    (Depreciation)    Value
Global Bond
Trust		                  
Bank of
America
N.A.		 CNA Financial
Corporation		 4,000,000 USD $4,000,000 (1.180)% Dec 2014 - ($8,535 ) ($8,535 )
 
Bank of
America N.A.		 Computer
Sciences
Corporation		 2,050,000 USD 2,050,000 (0.970)% Mar 2018 - (3,888 ) (3,888 )
 
Bank of
America N.A.		 Spectra
Energy
Capital, LLC		 3,000,000 USD 3,000,000 (1.150)% Jun 2018 - (71,843 ) (71,843 )
 
Bank of
America N.A.		 Starwood
Hotels &
Resorts
Worldwide,
Inc.		 3,000,000 USD 3,000,000 (0.940)% Jun 2018 - (119,058 ) (119,058 )
 
Citibank N.A. Russian
Federation		 2,100,000 USD 2,100,000 (0.800)% Sep 2019 $119,863 17,245 137,108
 
Deutsche
Bank AG		 Marsh &
Mclennan
Companies,
Inc.		 1,100,000 USD 1,100,000 (0.940)% Sep 2015 - (8,460 ) (8,460 )
 
Deutsche
Bank AG		 Spectra
Energy
Capital, LLC		 1,000,000 USD 1,000,000 (1.200)% Jun 2018 - (24,684 ) (24,684 )
 
JP Morgan
Chase Bank		 Russian
Federation		 1,200,000 USD 1,200,000 (1.490)% Sep 2019 71,210 7,026 78,236
 
Morgan
Stanley
Capital
Services Inc.		 Spectra
Energy
Capital, Llc		 1,000,000 USD 1,000,000 (1.000)% Jun 2018 - (22,844 ) (22,844 )
 
The Royal
Bank of
Scotland
PLC		 The Cleveland
Electric
Illuminating
Company		 3,000,000 USD 3,000,000 (1.000)% Jun 2017 - (37,250 ) (37,250 )
$21,450,000 $191,073 ($272,291 ) ($81,218 )

High Yield Trust
The portfolio used credit default swaps to manage against potential credit events.

Unamortized
Upfront
USD (Pay)/ Payment Unrealized
Reference Notional Notional Received Maturity Paid Appreciation Market
Portfolio    Counterparty    Obligation    Amount    Currency    Amount    Fixed Rate    Date    (Received)    (Depreciation)    Value
High Yield
Trust
Exchange
Cleared
Swaps
  
  MARKIT CDX.NA.HY.22 06/19 7,794,270 USD $7,794,270 (5.000)% Jun 2019 ($564,137) $90,481 ($473,656)
$7,794,270 ($564,137) $90,481 ($473,656)

398


Investment Quality Bond Trust
The portfolio used credit default swaps to manage against potential credit events and to gain exposure to security or credit index.

Unamortized
Upfront
USD (Pay)/ Payment Unrealized
Reference Notional Notional Received Maturity Paid Appreciation Market
Portfolio    Counterparty    Obligation    Amount    Currency    Amount    Fixed Rate    Date    (Received)    (Depreciation)    Value
Investment
Quality		                  
Bond
Trust
  Goldman
Sachs
International		 CDX-
EMS21V2-5Y		 1,824,000 USD $1,265,000 (5.000)% Jun 2019 ($171,456 ) $2,482 ($168,974 )
Exchange
Cleared
Swaps
  
CDX-
NAHYS22V1-5Y		 12,251,250 USD 12,251,250 (5.000)% Jun 2019 (921,030 ) 176,689 (744,341 )
  
ITRAXX-
EUROPES21V1-
5Y		 4,115,000 EUR 5,197,453 (1.000)% Jun 2019 99,738 (8,645 ) 91,093
  
  ITRAXX-
XOVERS21V1-
5Y		 2,030,000 EUR 2,563,992 (5.000)% Jun 2019 (287,186 ) 16,683 (270,503 )
$21,277,695 ($1,279,934 ) $187,209 ($1,092,725 )

Real Return Bond Trust
The portfolio used credit default swaps to manage against potential credit events.

Unamortized
Upfront
USD (Pay)/ Payment Unrealized
Reference Notional Notional Received Maturity Paid Appreciation Market
Portfolio    Counterparty    Obligation    Amount    Currency    Amount    Fixed Rate    Date    (Received)    (Depreciation)    Value
Real
Return
Bond
Trust
Barclays Bank PLC Everest
Reinsurance
Holdings,
Inc.		 1,000,000 USD $1,000,000 (0.535)% Dec 2014 - ($765) ($765)
$1,000,000 - ($765) ($765)

Implied credit spreads are utilized in determining the market value of CDS agreements in which a portfolio is the Seller at period end. The implied credit spread generally represents the yield of the instrument above a credit-risk free rate, such as the U.S. Treasury Bond Yield, and may include upfront payments required to be made to enter into the agreement. It also serves as an indicator of the current status of the payment/performance risk and represents the likelihood or risk of default for the credit derivative. Wider credit spreads represent a deterioration of the referenced entity’s creditworthiness and an increased risk of default or other credit event occurring as defined under the terms of the agreement.

For CDS agreements where implied credit spreads are not reported or available, the average credit rating on the underlying index is shown. Increasing market values, in absolute terms when compared to the notional amount of the swap, represent a deterioration of the referenced entity’s creditworthiness and a greater likelihood of a credit event occurring. This is also represented by a decrease in the average credit rating of the underlying index. The maximum potential amount of future payments (undiscounted) that a portfolio as the Seller could be required to make under any CDS agreement equals the notional amount of the agreement.

399


The following tables summarize the credit default swap contracts the portfolios held as of September 30, 2014. In addition, the tables detail how the portfolios used credit swap contracts as seller of protection during the period ended September 30, 2014.

Global Bond Trust
The portfolio used credit default swaps to take a long position in the exposure of the benchmark credit.

Implied
Credit Unamortized
Spread (Pay)/ Upfront
and/or USD Received Payment Unrealized
Reference Credit Rating Notional Notional Fixed Maturity Paid Appreciation Market
Portfolio   Counterparty   Obligation   at 9-30-14   Amount   Currency   Amount   Rate   Date   (Received)   (Depreciation)   Value
Global
Bond
Trust		                                  
Bank of
America N.A.		 Japan 0.30% 4,800,000.00 USD $4,800,000 1.000% Jun 2018 $60,109 $64,940 $125,049
                                                   
Bank of
America N.A.		 Republic
of Italy		 0.97% 200,000.00 USD 200,000 1.000% Jun 2019 ($3,884 ) $4,652 $768
                                                   
  Bank of
America N.A.		 Republic
of Italy		 1.00% 400,000.00 USD 400,000 1.000% Sep 2019 ($1,863 ) $2,878 $1,015
                                                   
Barclays
Capital		 People's
Republic
of China		 0.76% 600,000.00 USD 600,000 1.000% Mar 2019 $888 $5,469 $6,357
 
Citibank N.A Federative
Republic
of Brazil		 1.55% 700,000.00 USD 700,000 1.000% Mar 2019 ($25,651 ) $10,093 ($15,558 )
 
Citibank N.A Republic
of Italy		 1.00% 3,200,000.00 USD 3,200,000 1.000% Sep 2019 $7,496 $627 $8,123
 
Deutsche
Bank AG		 Federative
Republic
of Brazil		 1.54% 2,400,000.00 USD 2,400,000 1.000% Mar 2019 ($86,498 ) $33,156 ($53,342 )
 
Deutsche
Bank AG		 Japan 0.30% 2,300,000.00 USD 2,300,000 1.000% Jun 2018 $29,662 $30,257 $59,919
 
Deutsche
Bank AG		 People's
Republic
of China		 0.76% 600,000.00 USD 600,000 1.000% Mar 2019 $253 $6,103 $6,356
 
Deutsche
Bank AG		 Republic
of Italy		 0.89% 10,700,000.00 USD 10,700,000 1.000% Mar 2019 ($178,953 ) $234,210 $55,257
 
Goldman
Sachs
International		 Federative
Republic
of Brazil		 1.54% 600,000.00 USD 600,000 1.000% Mar 2019 ($22,977 ) $9,642 ($13,335 )
 
Goldman
Sachs
International		 Japan 0.27% 9,200,000.00 USD 9,200,000 1.000% Jun 2018 $128,912 $110,765 $239,677
 
Goldman
Sachs
International		 United
Mexican
States		 0.86% 800,000.00 USD 800,000 1.000% Sep 2019 $6,833 ($1,385 ) $5,448
 
HSBC
Bank USA		 Federative
Republic
of Brazil		 1.69% 1,800,000.00 USD 1,800,000 1.000% Sep 2019 ($50,336 ) ($6,577 ) ($56,913 )
 
HSBC
Bank USA		 Republic
of Italy		 0.89% 100,000.00 USD 100,000 1.000% Mar 2019 ($1,667 ) $2,183 $516
 
  HSBC
Bank USA		 United
Mexican
States		 0.84% 600,000.00 USD 600,000 1.000% Sep 2019 $4,981 ($895 ) $4,086
 
JPMorgan
Chase Bank		 Federative
Republic
of Brazil		 1.54% 200,000.00 USD 200,000 1.000% Mar 2019 ($7,376 ) $2,930 ($4,446 )
 
JPMorgan
Chase Bank

People's
Republic
of China

 0.76% 1,400,000.00 USD 1,400,000 1.000% Mar 2019 $4,152 $10,682 $14,834
 
Morgan
Stanley
Capital
Services Inc.		 Federative
Republic
of Brazil		 1.54% 4,700,000.00 USD 4,700,000 1.000% Mar 2019 ($180,540 ) $76,066 ($104,474 )
 
Morgan
Stanley
Capital
Services Inc.		 Federative
Republic
of Brazil		 1.69% 1,000,000.00 USD 1,000,000 1.000% Sep 2019 ($28,462 ) ($3,159 ) ($31,621 )
 
Morgan
Stanley
Capital
Services Inc.		 Japan 0.30% 2,300,000.00 USD 2,300,000 1.000% Jun 2018 $29,238 $30,681 $59,919
 
Morgan
Stanley
Capital
Services Inc.		 People's
Republic
of China		 0.76% 200,000.00 USD 200,000 1.000% Mar 2019 ($169 ) $2,288 $2,119
$48,800,000 ($315,852 ) $625,606 $309,754

400


Investment Quality Bond Trust
The portfolio used credit default swaps to take a long position in exposure of the benchmark credit.

Implied
Credit Unamortized
Spread (Pay) / Upfront
and/or USD Received Payment Unrealized
Reference credit rating Notional Notional Fixed Maturity Paid Appreciation Market
Portfolio   Counterparty   Obligation   at 9-30-14   Amount   Currency   Amount   Rate   Date   (Received)   (Depreciation)   Value
Investment
Quality		                                  
Bond Trust
  Goldman
Sachs
International		 CDX-
EMS21V2-
5Y		 2.87% - USD - 5.000% Jun 2019 $45 ($12 ) $33
Goldman
Sachs
International		 BRAZIL
REPUBLIC		 1.69% 820,000 USD $820,000 1.000% Sep 2019 (6,747 ) (19,385 ) (26,132 )
Exchange
Cleared
Swaps  
CDX-
NAIGS22V1-
5Y		 0.64% 13,545,000 USD 13,545,000 1.000% Jun 2019 (239,160 ) 17,073 (222,087 )
$14,365,000   ($245,862 ) ($2,324 ) ($248,186 )

401


Real Return Bond Trust
The portfolio used credit default swaps to take a long position in exposure of the benchmark credit.

Implied
Credit
Spread Unamortized
and/or Upfront
credit USD (Pay) / Payment Unrealized
Reference rating at Notional Notional Received Maturity Paid Appreciation Market
Portfolio Counterparty   Obligation    9-30-14     Amount   Currency   Amount   Fixed Rate   Date   (Received)   (Depreciation)   Value
Real Return
Bond Trust		  
 
Bank of
America N.A		 Russian
Federation		 2.38% 100,000 USD $100,000 1.000 % Mar 2019 ($7,481) $1,808 ($5,673)
Bank of
America N.A		 Republic of
Indonesia		 1.64% 100,000 USD 100,000 1.000 % Dec 2019 (2,396) (762) (3,158)
Bank of
America N.A		 Republic of
South Africa		 1.93% 500,000 USD 500,000 1.000 % Dec 2019 (18,980) (3,510) (22,490)
Barclays
Bank PLC		 Republic of
Indonesia		 1.64% 300,000 USD 300,000 1.000 % Dec 2019 (7,046) (2,429) (9,475)
Goldman Sach
International

Federative
Republic
of Brazil

 1.75% 400,000 USD 400,000 1.000 % Dec 2019 (11,227) (3,227) (14,454)
JPMorgan Chase
Bank, N.A.		 Petroleo
Brasileiro
S/A Petrobras		 0.94% 300,000 USD 300,000 1.000 % Sep 2015 (1,624) 2,337 713
Morgan Stanley
Capital Services		 Federative
Republic
of Brazil		 1.75% 100,000 USD 100,000 1.000 % Dec 2019 (2,831) (783) (3,614)
Exchange Cleared
Swaps
 
  iTraxx
Europe Series
21 Version 1 1.08% 700,000 EUR 971,811 1.000 % Jun 2024 (16,512) 10,257 (6,255)
$2,771,811   ($68,097) $3,691 ($64,406)

Total Return Trust
The portfolio used credit default swaps to take a long position in exposure of the benchmark credit, gain exposure to security or credit index.

Implied
Credit
Spread Unamortized
and/or Upfront
Credit USD (Pay) / Payment Unrealized
Reference Rating Notional Notional Received Maturity Paid Appreciation Market
Portfolio    Counterparty    Obligation    at 9-30-14    Amount    Currency    Amount    Fixed Rate    Date    (Received)    (Depreciation)    Value
Total
Return
Trust		 Bank of
America,
N.A.		 Federative
Republic
of Brazil		 0.70% 1,000,000 USD $1,000,000 1.950 % Apr 2016 ($619) $28,954 $28,335
Bank of
America,
N.A.		 Berkshire
Hathaway, Inc.		 0.12% 2,900,000 USD 2,900,000 1.000 % Mar 2015 (4,678) 17,515 12,837
Bank of
America,
N.A.		 United
Mexican
States		 0.28% 600,000 USD 600,000 1.000 % Sep 2015 144 4,246 4,390
Bank of
America,
N.A.		 General
Electric
Capital
Corporation		 0.33% 2,600,000 USD 2,600,000 1.000 % Dec 2015 (12,635) 34,766 22,131
Bank of
America,
N.A.		 General
Electric
Capital
Corporation		 0.33% 2,500,000 USD 2,500,000 1.000 % Dec 2015 (11,871) 33,151 21,280
Bank of
America,
N.A.		 Citigroup, Inc. 0.34% 2,000,000 USD 2,000,000 1.000 % Sep 2016 15,609 11,162 26,771
Bank of
America,
N.A.		 Republic
of Italy		 0.46% 900,000 USD 900,000 1.000 % Sep 2016 8,447 1,384 9,831
Barclays
Bank PLC		 Federative
Republic
of Brazil		 0.57% 500,000 USD 500,000 1.000 % Jun 2015 (991) 2,698 1,707
Barclays
Bank PLC		 Republic of
Indonesia		 0.57% 3,100,000 USD 3,100,000 1.000 % Jun 2016 (17,203) 41,132 23,929
Barclays
Bank PLC		 Republic of
Indonesia		 0.57% 2,100,000 USD 2,100,000 1.000 % Jun 2016 (11,982) 28,192 16,210
Barclays
Bank PLC		 Republic of
Indonesia		 0.57% 1,900,000 USD 1,900,000 1.000 % Jun 2016 (10,320) 24,986 14,666

402


     Barclays
Bank PLC		    Republic of
Indonesia		    0.57%    1,800,000    USD    1,800,000    1.000 %    Jun 2016    (9,635)    23,529    13,894
Barclays
Bank PLC		 General
Electric
Capital
Corporation		 0.38% 2,300,000 USD 2,300,000 1.000 % Sep 2016 16,591 12,275   28,866
Barclays
Bank PLC		 People's
Republic of
China		 0.41% 1,100,000 USD 1,100,000 1.000 % Dec 2016 16,399 (1,636) 14,763
Barclays
Bank PLC		 People's
Republic of
China		 0.41% 1,200,000 USD 1,200,000 1.000 % Dec 2016 15,440 666 16,106
Barclays
Bank PLC		 Russian
Federation		 2.38% 1,200,000 USD 1,200,000 1.000 % Mar 2019 (61,818) (6,252) (68,070)
Barclays
Bank PLC		 Republic
of Italy		 0.92% 700,000 USD 700,000 1.000 % Jun 2019 (4,324) 7,013 2,689
Barclays
Bank PLC		 Republic
of Italy		 0.92% 800,000 USD 800,000 1.000 % Jun 2019 (4,591) 7,664 3,073
Barclays
Bank PLC		 Russian
Federation		 2.44% 6,400,000 USD 6,400,000 1.000 % Sep 2019 (364,486) (53,366) (417,852)
Barclays
Bank PLC		 Russian
Federation		 2.05% 1,100,000 USD 1,100,000 1.000 % Sep 2015 (12,351) 1,420 (10,931)
BNP
Paribas		 United
States of
America		 0.12% 7,800,000 EUR 10,936,378 0.250 % Mar 2016 (35,874) 55,876 20,002
Citibank, N.A Russian
Federation		 2.38% 1,000,000 USD 1,000,000 1.000 % Mar 2019 (51,907) (4,818) (56,725)
Citibank, N.A United
Mexican
States		 0.18% 1,500,000 USD 1,500,000 1.000 % Mar 2015 (3,139) 9,347 6,208
Citibank, N.A Republic
of Indonesia		 0.39% 500,000 USD 500,000 1.000 % Sep 2015 (2,136) 5,258 3,122
Citibank, N.A Federative
Republic
of Brazil		 0.59% 1,000,000 USD 1,000,000 1.000 % Sep 2015 (3,014) 7,278 4,264
Citibank, N.A United
Mexican
States		 0.28% 700,000 USD 700,000 1.000 % Sep 2015 (2,042) 7,164 5,122
Citibank, N.A United
Mexican
States		 0.34% 11,600,000 USD 11,600,000 1.000 % Mar 2016 (27,123) 143,056 115,933
Citibank, N.A United
Mexican
States		 0.35% 3,600,000 USD 3,600,000 1.000 % Jun 2016 (2,642) 44,003 41,361
Citibank, N.A Republic
of Italy		 0.60% 2,100,000 USD 2,100,000 1.000 % Jun 2017 10,996 11,950 22,946
Citibank, N.A Russian
Federation		 2.05% 4,700,000 USD 4,700,000 1.000 % Sep 2015 (48,221) 1,517 (46,704)
Citibank, N.A United
Mexican
States		 A3 3,300,000 USD 3,300,000 1.000 % Dec 2019 19,554 825 20,379
Citibank, N.A Republic of
Indonesia		 0.57% 600,000 USD 600,000 1.000 % Jun 2016 (3,765) 8,396 4,631
Credit Suisse
International		 People's
Republic
of China		 0.24% 700,000 USD 700,000 1.000 % Mar 2015 303 2,385 2,688
Credit Suisse
International		 Federative
Republic
of Brazil		 0.57% 6,900,000 USD 6,900,000 1.000 % Jun 2015 (13,397) 36,949 23,552
Deutche
Bank AG		 Republic
of Italy		 0.92% 500,000 USD 500,000 1.000 % Jun 2019 (3,322) 5,243 1,921
Deutche
Bank AG		 Republic
of Italy		 0.46% 4,000,000 USD 4,000,000 1.000 % Sep 2016 27,579 16,115 43,694
Deutche
Bank AG		 Republic
of Italy		 0.46% 6,700,000 USD 6,700,000 1.000 % Sep 2016 40,993 32,194 73,187
Deutche
Bank AG		 Russian
Federation		 2.05% 300,000 USD 300,000 1.000 % Sep 2015 (3,223) 242 (2,981)
Deutche
Bank AG		 Republic
of Italy		 0.46% 900,000 USD 900,000 1.000 % Sep 2016 8,536 1,295 9,831
Deutche
Bank AG		 United
Mexican
States		 0.18% 1,000,000 USD 1,000,000 1.000 % Mar 2015 (2,093) 6,232 4,139
Deutche
Bank AG		 Federative
Republic
of Brazil		 0.57% 2,800,000 USD 2,800,000 1.000 % Jun 2015 (4,256) 13,813 9,557
Deutche
Bank AG		 Federative
Republic
of Brazil		 0.57% 700,000 USD 700,000 1.000 % Jun 2015 (927) 5,144 4,217
Deutche
Bank AG		 General
Electric
Capital
Corporation		 0.35% 400,000 USD 400,000 1.000 % Mar 2016 (6,246) 11,233 4,987
Deutche
Bank AG		 United
Mexican
States		 0.34% 7,200,000 USD 7,200,000 1.000 % Mar 2016 (15,329) 87,287 71,958
Deutche
Bank AG		 The
Export-Import
Bank of China		 0.69% 400,000 USD 400,000 1.000 % Jun 2017 (9,182) 12,649 3,467

403


   Deutche
Bank AG		    General Electric
Capital
Corporation		    0.31%    1,300,000    USD    1,300,000    1.000 %    Sep 2015    7,745    1,389    9,134
Deutche
Bank AG		 Berkshire
Hathaway
Inc.		 0.22% 1,100,000 USD 1,100,000 1.000 % Sep 2016 11,194 6,055 17,249
Deutche
Bank AG		 JPMorgan Chase &
Co.		 0.31% 2,300,000 USD 2,300,000 1.000 % Sep 2016 19,311 12,900 32,211
Deutche
Bank AG		 People's Republic of
China		 0.41% 1,000,000 USD 1,000,000 1.000 % Dec 2016 13,958 (537) 13,421
Deutche
Bank AG		 People's Republic of
China		 0.41% 1,000,000 USD 1,000,000 1.000 % Dec 2016 14,206 (785) 13,421
Deutche
Bank AG		 Federative Republic
of Brazil		 1.54% 400,000 USD 400,000 1.000 % Mar 2019 (15,087) 6,197 (8,890)
Deutsche
Bank
London
Branch		 Federative
Republic
of Brazil		 0.72% 2,400,000 USD 2,400,000 1.000 % Jun 2016 (2,738) 14,970 12,232
Goldman
Sachs		 CDX.NA.IG.9-V4 0.11% 964,499 USD 964,499 0.548 % Dec 2017 0 13,506 13,506
Goldman Sachs Berkshire
Hathaway Inc.		 0.12% 1,400,000 USD 1,400,000 1.000 % Mar 2015 (2,259) 8,456 6,197
Goldman Sachs Federative Republic
of Brazil		 0.57% 500,000 USD 500,000 1.000 % Jun 2015 (926) 2,633 1,707
Goldman Sachs Russian Federation 2.38% 3,000,000 USD 3,000,000 1.000 % Mar 2019 (156,896) (13,280) (170,176)
Goldman Sachs Republic of Italy 0.92% 400,000 USD 400,000 1.000 % Jun 2019 (1,685) 3,222 1,537
Goldman Sachs
International		 United Mexican
States		 A3 4,200,000 USD 4,200,000 1.000 % Dec 2019 22,805 1,050 23,855
HSBC Bank USA Federative Republic
of Brazil		 0.57% 2,300,000 USD 2,300,000 1.000 % Jun 2015 (8,804) 22,660 13,856
HSBC Bank USA Federative Republic
of Brazil		 0.59% 1,700,000 USD 1,700,000 1.000 % Sep 2015 (3,276) 10,524 7,248
HSBC Bank USA Republic of
Indonesia		 0.57% 2,100,000 USD 2,100,000 1.000 % Jun 2016 (12,146) 28,356 16,210
HSBC Bank USA United Mexican
States		 0.41% 300,000 USD 300,000 1.000 % Sep 2016 1,055 2,555 3,610
HSBC Bank USA United Mexican
States		 0.45% 200,000 USD 200,000 1.000 % Dec 2016 1,400 1,114 2,514
HSBC Bank USA Russian Federation 2.38% 4,500,000 USD 4,500,000 1.000 % Mar 2019 (234,463) (20,801) (255,264)
HSBC Bank USA Republic
of Italy		 0.92% 500,000 USD 500,000 1.000 % Jun 2019 (3,322) 5,243 1,921
HSBC Bank USA Republic
of Italy		 0.92% 1,200,000 USD 1,200,000 1.000 % Jun 2019 (5,320) 9,930 4,610
HSBC Bank USA Russian Federation 2.24% 300,000 USD 300,000 1.000 % Jun 2017 (5,530) (4,186) (9,716)
HSBC Bank USA Republic
of Italy		 0.46% 8,100,000 USD 8,100,000 1.000 % Sep 2016 57,453 31,027 88,480
HSBC Bank USA Republic
of Italy		 0.46% 9,100,000 USD 9,100,000 1.000 % Sep 2016 55,677 43,726 99,403
JPMorgan
Chase
Bank, N.A.		 CDX.NA.IG.9-V4 0.11% 2,121,897 USD 2,121,897 0.553 % Dec 2017 0 30,054 30,054
JPMorgan
Chase
Bank, N.A.		 Federative
Republic
of Brazil		 0.59% 2,100,000 USD 2,100,000 1.000 % Sep 2015 (4,309) 13,262 8,953
JPMorgan
Chase
Bank, N.A.		 Republic of
Indonesia		 0.57% 1,600,000 USD 1,600,000 1.000 % Jun 2016 (9,792) 22,142 12,350
JPMorgan
Chase
Bank, N.A.		 United Mexican
States		 0.41% 200,000 USD 200,000 1.000 % Sep 2016 733 1,674 2,407
JPMorgan
Chase
Bank, N.A.		 United Mexican
States		 0.45% 2,300,000 USD 2,300,000 1.000 % Dec 2016 22,400 6,508 28,908

404


   JPMorgan
Chase
Bank, N.A.		    Russian
Federation		    2.41%    200,000    USD      200,000    1.000 %    Jun 2019    (10,488)    (1,721)    (12,209)
Morgan
Stanley
Capital
Services,
Inc.		 United
Mexican
States		 A3 5,800,000 USD 5,800,000 1.000 % Dec 2019 37,244 (1,427) 35,817
Morgan
Stanley
Capital
Services,
Inc.		 Federative
Republic
of Brazil		 0.57% 800,000 USD 800,000 1.000 % Jun 2015 (1,073) 5,893 4,820
The Royal
Bank of
Scotland PLC		 People's
Republic
of China		 0.37% 300,000 USD 300,000 1.000 % Sep 2016 801 3,023 3,824
  UBS AG Berkshire
Hathaway Inc.		 0.12% 1,400,000 USD 1,400,000 1.000 % Mar 2015 (2,317) 8,514 6,197
UBS AG United
States of
America		 0.11% 12,700,000 EUR 16,290,280 0.250 % Sep 2015 (29,390) 52,599 23,209
UBS AG Federative
Republic
of Brazil		 0.59% 500,000 USD 500,000 1.000 % Sep 2015 (915) 3,047 2,132
Exchange
Cleared
Swaps
CDX.NA.IG.22 0.64% 2,000,000 USD 2,000,000 1.000 % Jun 2019 29,924 2,865 32,789
$196,613,054 ($799,581) $1,072,489 $272,908

Inflation swaps. In an inflation swap, one party pays a fixed rate on a notional principal amount while the other party pays a floating rate linked to an inflation index on that same notional amount. The party paying the floating rate pays the inflation adjusted rate multiplied by the notional principal amount. If the average inflation rateover the term of the swap is the same as the fixed rate of the swap, the two legs will have the same value and the swap will break even.

The following table summarizes the inflation swap contracts of the portfolio held as of September 30, 2014.

Real Return Bond Trust
The portfolio used inflation swaps to take a position on current versus future inflation expectations.

Unamortized
Payments Payments Upfront Unrealized
Notional USD Notional Made by Received Maturity Payment Appreciation Market
Portfolio     Counterparty   Amount   Currency   Amount   Portfolio   by Fund   Date   Paid (Received)   (Depreciation)   Value
Real Return Bond
Trust
  BNP
Paribas		 300,000 USD $300,000 Fixed 1.825% USA-CPI-U Nov 2016 ($61) ($446) ($507)
BNP
Paribas		 800,000 USD 800,000 Fixed 1.9075% USA-CPI-U Apr 2017 - (5,872) (5,872)
BNP
Paribas		 4,900,000 USD 4,900,000 Fixed 2.25% USA-CPI-U Jul 2017 5,157 (142,998) (137,841)
Deutsche
Bank AG		 500,000 USD 500,000 Fixed 1.825% USA-CPI-U Nov 2016 (104) (741) (845)
Deutsche
Bank AG		 800,000 USD 800,000 Fixed 1.845% USA-CPI-U Nov 2016 - (1,842) (1,842)
Deutsche
Bank AG		 400,000 USD 400,000 Fixed 2.56% USA-CPI-U May 2023 - (16,819) (16,819)
Goldman
Sachs
Bank USA		 300,000 USD 300,000 Fixed 2.175% USA-CPI-U Oct 2018 (187) (3,752) (3,939)

JPMorgan
Chase
Bank, N.A.

 100,000 GBP 163,385 Fixed 3.5275% UK RPI
All Items NSA		 Sep 2044 149 (1,141) (992)
Royal Bank
of Scotland		 400,000 USD 400,000 Fixed 1.935% USA-CPI-U Oct 2016 - (2,154) (2,154)
Royal Bank
of Scotland		 2,700,000 USD 2,700,000 Fixed 2.25% USA-CPI-U Jul 2017 3,327 (79,280) (75,953)
$11,263,385 $8,281 ($255,045) ($246,764)

405


Investment in affiliated underlying funds. Information regarding the portfolios' fiscal year to date purchases and sales of the affiliated underlying funds as well as income and capital gains earned by the portfolios from their investments in affiliated underlying funds is as follows:

DIVIDENDS AND DISTRIBUTIONS
CAPITAL
BEGINNING ENDING INCOME GAINS
SHARE SHARES SHARES SHARE DISTRIBUTIONS DISTRIBUTIONS REALIZED
Portfolio    AMOUNT    PURCHASED    SOLD    AMOUNT    RECEIVED    RECEIVED    GAIN (LOSS)    ENDING VALUE
Core
Strategy
Trust
Bond Trust 90,081,713 1,727,257 (5,241,176) 86,567,794 $9,449,341 - - $1,190,307,163
Strategic
Equity
Allocation		 171,035,294 4,843,066 (14,209,443) 161,668,917 8,960,554 $75,530,342 - 2,748,371,418
  $18,409,895 $75,530,342 - $3,938,678,581
Franklin
Templeton
Founding
Allocation
Trust
Global 22,606,167 83,140 (1,305,905) 21,383,402 $565,166 - $3,077,761 $439,642,739
Income 38,800,526 478,144 (4,239,474) 35,039,196 3,704,833 - 1,234,618 443,596,221
Mutual Shares 33,652,978 889,397 (3,183,448) 31,358,927 3,898,725 $8,083,139 7,168,776 442,788,045
  $8,168,724 $8,083,139 $11,481,155 $1,326,027,005
Lifestyle
Aggressive
MVP
All Cap Core 582,952 (508,197) (74,755) - $55,695 - $900,099 $13,690,483
Alpha
Opportunities		 2,238,191 (1,933,027) (305,164) - 84,270 $7,423,427 642,621 32,673,057
Blue Chip
Growth		 1,138,275 (968,125) (170,150) - - 1,409,264 2,689,910 35,125,826

406


Capital Appreciation      2,040,087      (1,698,464)      (341,623)                    -      24,080      3,125,113      2,398,733      28,810,196
Capital Appreciation Value 686,403 - (686,403) - - - 616,706 -
Emerging Markets Value 4,406,144 (3,541,671) (864,473) - 354,708 1,243,745 (769,789) 35,683,120
Equity-Income 1,601,695 (1,470,619) (131,076) - 153,997 3,911,694 1,094,556 45,724,544
Fundamental Large Cap Value 2,502,701 (2,273,866) (228,835) - 68,093 - 1,418,127 45,823,802
Fundamental Value 1,538,821 42,384 (1,581,205) - - - 12,838,228 -
International Core 1,907,822 (1,709,781) (198,041) - 130,809 - (356,952) 19,848,444
International Growth Opportunities 588,557 (536,828) (51,729) - - - 215,807 7,416,704
International Growth Stock 923,866 (805,088) (118,778) - 109,843 - 532,472 14,104,061
International Small Company 899,402 - (899,402) - - - 4,341,351 -
International Value 1,649,860 (1,506,541) (143,319) - 18,358 - (261,794) 22,007,297
Mid Cap Stock 845,865 (762,613) (83,252) - 24,295 3,128,705 940,329 16,629,264
Mid Value 823,222 (696,134) (127,088) - 36,510 1,082,312 726,753 11,288,554
Mutual Shares 876,735 - (876,735) - - - 3,042,645 -
Natural Resources 1,567,457 39,783 (1,607,240) - - - 896,428 -
Real Estate Securities 721,957 (567,288) (154,669) - 46,888 - 414,174 9,082,196
Small Cap Growth 412,087 (333,916) (78,171) - - 713,018 431,111 4,465,597
Small Cap Opportunities 213,458 (194,836) (18,622) - 5,001 - 316,827 5,981,482
Small Cap Value 153,214 (113,277) (39,937) - 2,835 360,811 465,557 2,967,965
Small Company Growth 142,892 (111,298) (31,594) - - - 456,767 2,940,681
Small Company Value 178,423 (135,996) (42,427) - 2,098 77,322 547,897 3,303,048
Strategic Equity Allocation - 2,164,034 (2,164,034) - 120,527 1,015,945 673,107 38,166,951
Strategic Growth 1,366,530 (1,262,408) (104,122) - - - 150,882 28,776,839
U.S. Equity 1,713,130 (1,414,822) (298,308) - 89,757 - 2,330,352 27,532,110
Value - - - -
215,956 (215,956) - 1,772,443
$1,327,764 $23,491,356 $39,465,347 $452,042,221

407


Lifestyle Aggressive PS                                        
Strategic Equity Allocation 16,095 1,377,007 (310,469) 1,082,633 $59,933 $505,187 $213,360 $18,404,769
$59,933 $505,187 $213,360 $18,404,769
 
Lifestyle Balanced MVP
All Cap Core 4,339,455 14,896 (656,750) 3,697,601 $398,619 - $10,689,439 $96,877,150
Alpha Opportunities 16,959,740 4,093,928 (2,920,707) 18,132,961 619,894 $54,607,186 9,674,144 237,541,786
Blue Chip Growth 7,249,713 230,249 (1,674,752) 5,805,210 - 8,111,644 39,263,329 199,757,271
Bond Trust 189,778,076 79,257,765 (56,292,525) 212,743,316 23,527,163 - 20,422,442 2,925,220,589
Capital Appreciation 12,196,519 1,303,740 (1,474,390) 12,025,869 152,523 19,794,692 15,250,543 180,388,029
Core Bond 53,821,611 309,391 (26,052,113) 28,078,889 4,102,524 - 6,451,607 370,360,547
Emerging Markets Value 37,711,195 1,317,290 (7,493,268) 31,535,217 3,069,314 10,762,225 35,155,745 304,630,192
Equity-Income 15,288,278 1,457,261 (1,237,632) 15,507,907 1,008,925 25,627,853 14,444,232 291,858,818
Fundamental Large Cap Value 15,247,415 1,809,733 (1,676,257) 15,380,891 397,397 - 11,749,099 263,936,091
Fundamental Value 13,655,450 - (13,655,450) - - - 156,981,513 -
Global Bond 19,310,221 - (2,762,808) 16,547,413 - - (2,497,752) 209,159,294
Global Conservative Absolute
Return Fund		 3,549,482 - - 3,549,482 - - - 36,098,236
International Core 21,550,950 117,857 (2,961,459) 18,707,348 1,417,820 - (4,768,364) 215,134,503
International Growth Opportunities 6,822,013 - (442,397) 6,379,616 - - 1,915,929 85,614,442
International Growth Stock 10,634,531 69,413 (1,480,947) 9,222,997 1,225,148 - 7,332,905 155,591,968
International Value 18,563,145 13,036 (2,279,664) 16,296,517 196,448 - (2,191,156) 232,877,233
Mid Cap Stock 7,171,531 1,397,130 (1,066,365) 7,502,296 197,435 25,425,919 14,138,113 133,315,794
Mid Value 11,175,349 949,930 (2,265,513) 9,859,766 433,355 12,846,660 20,700,207 132,811,043
New Income 88,776,825 1,029,592 (37,852,000) 51,954,417 13,652,396 - 35,391,177 686,317,849

408


Short Term Government Income      6,543,473      46,297      (828,483)      5,761,287      579,174      -      (183,695)      72,188,920
Small Cap Growth 5,159,794 802,548 (878,905) 5,083,437 - 9,132,990 6,572,561 56,121,139
Small Cap Value 2,501,261 294,517 (292,444) 2,503,334 53,800 6,846,745 4,913,038 55,448,856
Small Company Growth 2,040,662 - (262,620) 1,778,042 - - 4,366,381 46,389,124
Small Company Value 3,105,961 63,396 (336,378) 2,832,979 41,073 1,514,048 4,763,008 64,676,921
Strategic Equity Allocation 148,700,233 11,849,640 (38,586,378) 121,963,495 6,678,750 56,296,547 170,389,766 2,073,379,418
Strategic Growth 5,400,411 6,486,760 (850,128) 11,037,043 - - 1,416,547 180,014,165
Total Return 79,435,913 962,406 (27,516,013) 52,882,306 13,310,088 - 15,393,172 726,074,066
U.S. Equity 12,354,716 33,195 (2,182,491) 10,205,420 634,350 - 23,794,223 192,474,218
$71,696,196 $230,966,509 $621,528,153 $10,224,257,662
 
Lifestyle Balanced PS
Bond PS 8,455,257 3,720,659 (7,769,337) 4,406,579 $799,374 - ($868,318) $56,932,999
Bond Trust   -   33,145,937   (1,098,064)   32,047,873   3,482,834   -   231,946   440,658,260
Strategic Equity Allocation 6,332,661 23,607,516 (1,102,137) 28,838,040 1,582,245 $13,337,062 4,742,727 490,246,680
                    $5,864,453   $13,337,062   $4,106,355   $987,837,939
 
Lifestyle Conservative MVP
Blue Chip Growth 1,106,117 86,978 (630,871) 562,224 - $778,269 $9,137,833 $19,346,137
Bond Trust 58,925,627 26,691,808 (21,737,008) 63,880,427 $7,074,018 - 9,610,358 878,355,873
Capital Appreciation - 773,605 (65,532) 708,073 8,923 1,158,005 (17,447) 10,621,099
Core Bond 17,098,724 147,114 (8,950,571) 8,295,267 1,214,601 - (2,634,148) 109,414,572
Equity-Income 1,866,553 260,501 (535,288) 1,591,766 101,897 2,588,294 3,885,814 29,957,040
Fundamental All Cap Core - 2,831,358 (259,808) 2,571,550 - - 107,198 37,904,645
Fundamental Value 1,167,395 42,774 (1,210,169) - - - 7,933,247 -
Global Bond 6,190,457 33,656 (1,237,250) 4,986,863 - - 1,470,656 63,033,954
Global Conservative Absolute
Return Fund		 1,160,768 - - 1,160,768 - - - 11,805,012

409


International Core      3,594,004      382,310      (908,203)      3,068,111      229,655      -      3,072,047      35,283,271
International Growth Opportunities 505,120 62,265 (94,613) 472,772 - - 396,248 6,344,603
International Growth Stock 695,848 66,590 (159,801) 602,637 78,230 - 583,404 10,166,490
International Value 3,063,638 306,591 (729,923) 2,640,306 30,952 - 2,162,546 37,729,969
Mid Cap Stock 529,773 139,234 (126,095) 542,912 14,064 1,811,183 975,178 9,647,547
Mid Value 825,253 130,039 (232,594) 722,698 30,992 918,746 971,267 9,734,749
New Income 28,276,960 421,075 (13,282,995) 15,415,040 4,059,333 - 6,982,278 203,632,676
Short Term Government Income 2,006,250 23,222 (361,863) 1,667,609 168,355 - (84,114) 20,895,144
Small Cap Growth 709,772 175,391 (186,963) 698,200 - 1,232,235 564,946 7,708,127
Small Cap Value 580,888 128,153 (136,968) 572,073 11,856 1,508,869 1,037,579 12,671,414
Strategic Equity Allocation 10,998,928 2,628,936 (4,705,207) 8,922,657 490,015 4,130,433 20,706,541 151,685,167
Total Return 25,406,223 303,970 (10,101,335) 15,608,858 3,954,018 - 2,416,899 214,309,613
U.S. Equity 1,106,464 39,867 (1,146,331) - - - 6,608,660 -
$17,466,909 $14,126,034 $75,886,990 $1,880,247,102
Lifestyle Conservative PS
Bond PS 3,174,852 1,168,927 (2,781,326) 1,562,453 $283,437 - ($323,436) $20,186,899
Bond Trust - 10,911,419 (1,053,338) 9,858,081 1,085,010 - 235,757 135,548,610
Strategic Equity Allocation 609,699 2,162,575 (486,870) 2,285,404 124,269 $1,047,489 1,182,648 38,851,875
$1,492,716 $1,047,489 $1,094,969 $194,587,384
Lifestyle Growth MVP
All Cap Core 6,073,668 21,548 (735,003) 5,360,213 $576,610 - $6,133,048 $140,437,580
Alpha Opportunities 33,198,960 7,979,602 (5,782,274) 35,396,288 1,208,255 - 24,484,248 463,691,371
Blue Chip Growth 13,527,211 466,105 (2,274,293) 11,719,023 - $16,420,873 36,041,021 403,251,579
Bond Trust 145,882,778 58,134,993 (55,234,255) 148,783,516 16,397,035 - (1,462,469) 2,045,773,343
Capital Appreciation 24,373,366 2,619,751 (2,955,332) 24,037,785 306,481 - 18,574,874 360,566,777

410


Core Bond      41,234,997      280,247      (19,973,532)      21,541,712      3,136,943      -      (2,405,196)      284,135,187
Emerging Markets Value 59,858,681 2,034,099 (12,751,702) 49,141,078 4,739,497 - 59,293,916 474,702,813
Equity-Income 32,631,246 2,738,237 (4,785,491) 30,583,992 1,987,209 50,477,396 57,399,734 575,590,721
Fundamental Large Cap Value 26,042,904 8,849,508 (3,271,516) 31,620,896 815,228 - 29,416,524 542,614,576
Fundamental Value 26,730,993 - (26,730,993) - - - 186,842,647 -
Global Bond 14,717,242 44,239 (2,097,687) 12,663,794 - - (1,463,058) 160,070,350
Global Conservative Absolute
Return Fund		 3,804,777 - - 3,804,777 - - - 38,694,578
International Core 31,627,582 315,038 (3,865,663) 28,076,957 2,117,402 - (12,887,077) 322,885,010
International Growth Opportunities 10,380,765 - (345,583) 10,035,182 - - 1,465,793 134,672,143
International Growth Stock 15,607,682 103,700 (1,910,326) 13,801,056 1,830,302 - 9,423,352 232,823,814
International Value 28,974,817 20,448 (3,423,190) 25,572,075 308,150 - (10,202,629) 365,424,953
Mid Cap Stock 9,513,076 1,874,900 (1,305,542) 10,082,434 264,951 34,120,718 6,116,703 179,164,854
Mid Value 14,826,410 1,284,146 (2,778,428) 13,332,128 585,824 17,366,543 25,671,126 179,583,770
New Income 67,566,528 787,514 (28,510,998) 39,843,044 10,442,435 - 17,638,543 526,326,607
Short Term Government Income 4,287,371 42,256 (550,228) 3,779,399 378,839 - (115,856) 47,355,864
Small Cap Growth 8,548,244 1,328,961 (1,445,663) 8,431,542 - 15,123,579 8,978,687 93,084,225
Small Cap Opportunities 2,947,127 2,081 (371,971) 2,577,237 65,063 - 3,584,462 76,415,069
Small Cap Value 3,351,718 390,940 (407,511) 3,335,147 71,414 9,088,311 7,172,940 73,873,510
Small Company Growth 3,503,059 - (565,786) 2,937,273 - - 5,481,270 76,633,441
Small Company Value 5,112,698 106,028 (491,619) 4,727,107 68,693 2,532,192 3,185,486 107,919,863
Strategic Equity Allocation 276,017,815 21,582,667 (75,592,838) 222,007,644 12,163,068 - 332,114,730 3,774,129,942
Strategic Growth 11,795,548 12,130,651 (1,826,708) 22,099,491 - - 3,021,184 360,442,697
Total Return 60,609,726 852,666 (21,157,432) 40,304,960 10,123,250 - 7,374,945 553,387,101
U.S. Equity 28,133,352 75,034 (5,204,068) 23,004,318 1,433,907 - 24,624,695 433,861,434
$69,020,556 $145,129,612 $845,503,643 $13,027,513,172

411


Lifestyle Growth PS
Bond PS      7,141,403      8,151,744      (9,695,313)      5,597,834      $1,015,474      -      $142,476      $72,324,021
Bond Trust - 36,324,480 (1,516,301) 34,808,179 3,822,218 - 435,708 478,612,467
Strategic Equity Allocation 12,507,718 63,792,360 (1,687,087) 74,612,991 4,112,393 $34,664,201 7,258,298 1,268,420,842
$8,950,085 $34,664,201 $7,836,482 $1,819,357,330
Lifestyle Moderate MVP
Alpha Opportunities 3,706,328 896,843 (625,723) 3,977,448 $135,798 $11,962,619 $2,258,049 $52,104,571
Blue Chip Growth 2,422,906 66,932 (922,422) 1,567,416 - 2,186,532 20,622,443 53,934,776
Bond Trust 69,047,750 27,970,713 (21,401,575) 75,616,888 8,413,430 - 10,215,073 1,039,732,207
Capital Appreciation 4,292,983 190,679 (2,721,303) 1,762,359 22,307 2,895,083 26,611,997 26,435,388
Core Bond 18,946,099 109,934 (9,139,931) 9,916,102 1,457,727 - 1,566,881 130,793,381
Equity-Income 4,632,707 1,509,323 (491,154) 5,650,876 367,243 9,328,399 5,983,261 106,349,478
Fundamental All Cap Core - 6,536,972 (492,114) 6,044,858 - - 201,141 89,101,214
Fundamental Large Cap Value 2,931,608 19,859 (2,951,467) - - - 12,339,652 -
Fundamental Value 2,984,228 - (2,984,228) - - - 28,981,033 -
Global Bond 6,780,416 34,664 (1,112,235) 5,702,845 - - (3,375,503) 72,083,965
Global Conservative Absolute
Return Fund		 1,382,294 - - 1,382,294 - - - 14,057,933
International Core 7,023,634 50,480 (1,043,911) 6,030,203 456,625 - 2,255,676 69,347,338
International Growth Opportunities 2,063,308 28,759 (229,109) 1,862,958 - - 962,605 25,000,892
International Growth Stock 3,159,420 24,682 (471,305) 2,712,797 358,309 - 2,296,734 45,764,888
International Value 6,481,849 50,227 (910,046) 5,622,030 67,436 - 5,312,110 80,338,807
Mid Cap Stock 1,408,543 271,926 (218,459) 1,462,010 38,427 4,948,707 2,938,883 25,979,922
Mid Value 2,195,473 202,139 (455,121) 1,942,491 85,303 2,528,789 4,066,960 26,165,353
New Income 31,140,952 364,880 (13,205,889) 18,299,943 4,838,317 - 6,249,110 241,742,248

412


Short Term Government Income 2,142,286 49,944 (320,514) 1,871,716 187,358 - (71,191) 23,452,606
Small Cap Growth 1,245,817 220,504 (238,326) 1,227,995 - 2,196,261 1,768,200 13,557,063
Small Cap Value 660,490 95,462 (99,129) 656,823 14,079 1,791,670 1,663,598 14,548,629
Small Company Growth 479,028 8,927 (78,120) 409,835 - - 1,337,885 10,692,584
Small Company Value 764,597 41,603 (106,167) 700,033 9,980 367,882 1,381,058 15,981,749
Strategic Equity Allocation 34,000,918 2,924,292 (8,892,692) 28,032,518 1,551,981 13,081,967 39,491,380 476,552,805
Strategic Growth - 1,725,355 (109,217) 1,616,138 - - 36,610 26,359,208
Total Return      27,727,859      357,333      (9,624,263)      18,460,929      4,677,472      -      4,673,573      253,468,551
U.S. Equity 1,693,436 4,642 (269,036) 1,429,042 88,731 - 2,621,437 26,951,738
  $22,770,523 $51,287,909 $182,388,655 $2,960,497,294
Lifestyle Moderate PS
Bond PS 4,392,934 1,472,604 (3,741,416) 2,124,122 $385,326 - ($480,825) $27,443,661
Bond Trust - 13,231,494 (728,876) 12,502,618 1,363,795 - 169,018 171,910,999
Strategic Equity Allocation 2,201,023 6,044,169 (590,580) 7,654,612 426,083 $864,020 2,459,114 130,128,400
$2,175,204 $864,020 $2,147,307 $329,483,060

Direct placement securities. The portfolios may hold private placement securities which are restricted as to resale and the portfolios have limited rights to registration under the Securities Act of 1933. The following table summarizes the direct placement securities held at September 30, 2014.

Value as a
Original Beginning Ending percentage
acquisition Acquisition share share of portfolio's Value as of
Portfolio      Issuer, Description      date      cost      amount      amount      net assets           9-30-14
Alpha Opportunities Trust Apigee Corp., Series H 4/17/2014 $432,120 - 148,495 0.1% $432,120
  Bought: 148,495 shares
Alpha Opportunities Trust Cloudera, Inc., Series F 2/5/2014 $229,626 - 15,771 0.1% $438,875
Bought: 15,771 shares
Alpha Opportunities Trust ConforMIS, Inc. 8/12/2014 $218,960 27,370 0.0% * $218,960
Bought: 27,370 shares
Alpha Opportunities Trust Corindus Vascular Robotics, Inc. 9/12/2014 $1,299,455 - 519,782 0.2% $1,356,259
Bought: 519,782 shares
Alpha Opportunities Trust Datalogix Holdings, Inc. 5/22/2014 $530,584 - 51,513 0.1% $530,584
Bought: 51,513 shares

413


Alpha Opportunities Trust      DocuSign, Inc., Series B      2/28/2014      $11,360      -      865      0.0%      *      $10,311
Bought: 865 shares            
Alpha Opportunities Trust DocuSign, Inc., Series B1 3/3/2014 $3,401 - 259 0.0% * $3,087
Bought: 259 shares
Alpha Opportunities Trust DocuSign, Inc., Series D 3/3/2014 $8,155 - 621 0.0% * $7,402
Bought: 621 shares
Alpha Opportunities Trust DocuSign, Inc., Series E 3/3/2014 $211,051 - 16,071 0.0% * $191,566
Bought: 16,071 shares
Alpha Opportunities Trust Dropbox, Inc., Series C 1/28/2014 $208,108 - 10,895 0.0% * $178,787
  Bought: 10,895 shares
Alpha Opportunities Trust Essence Group Holdings Corp. 5/1/2014 $321,999 - 203,629 0.0% * $321,999
Bought: 203,629 shares
Alpha Opportunities Trust LendingClub Corp., Series D 4/15/2014 $194,434 - 19,116** 0.0% * $194,434
Bought: 9,558 shares
Alpha Opportunities Trust Lithium Technology Corp. 8/18/2014 $415,250 - 85,197 0.1% $415,250
Bought: 85,197 shares
Alpha Opportunities Trust Lookout, Inc., Series F 7/31/2014 $287,565 - 25,174 0.0% * $287,565
Bought: 25,174 shares
Alpha Opportunities Trust New Relic, Inc., Series F 4/16/2014 $327,157 - 11,307 0.0% * $327,157
Bought: 11,307 shares
Alpha Opportunities Trust Nutanix, Inc. 8/25/2014 $430,389 - 32,127 0.1% $430,389
Bought: 32,127 shares
Alpha Opportunities Trust Pure Storage, Inc., Series F 4/16/2014 $985,385 - 62,660 0.1% $985,385
Bought: 62,660 shares
Alpha Opportunities Trust The Honest Company, Inc. (Common Stock) 8/20/2014 $103,927 - 3,841 0.0% * $103,927
Bought: 3,841 shares
Alpha Opportunities Trust The Honest Company, Inc. (Preferred Stock) 8/20/2014 $242,515 - 8,963 0.0% * $242,515
Bought: 8,963 shares
Alpha Opportunities Trust Uber Technologies, Inc. 6/5/2014 $2,206,328 - 35,556 0.3% $2,206,328
Bought: 35,556 shares
Alpha Opportunities Trust Veracode, Inc. 8/26/2014 $345,534 - 18,712 0.0% * $345,534
Bought: 18,712 shares
$9,228,434
Financial Services Trust SKBHC Holdings LLC 11/8/2010 $1,345,794 516 516 1.7% $2,871,689
Health Sciences Trust Bellicum Pharmaceuticals, Inc. 8/22/2014 $107,545 - 19,733 0.0% * $107,545
Bought: 19,733 shares
Health Sciences Trust Doximity, Inc. 4/10/2014 $152,390 - 31,611 0.1% $152,390
Bought: 31,611 shares

414


Health Sciences Trust      Spark Therapeutics, Inc.      5/23/2014      $72,110      -      44,789      0.0%      *      $72,110
  Bought: 44,789 shares            
  $332,045
Mid Cap Stock Trust Apigee Corp., Series H 4/17/2014 $3,124,022 - 1,073,547 0.4% $3,124,022
Bought: 1,073,547 shares
Mid Cap Stock Trust ConforMIS, Inc. 8/12/2014 $1,628,656 - 203,582 0.2% $1,628,656
Bought: 203,582 shares
Mid Cap Stock Trust Datalogix Holdings, Inc. 5/22/2014 $3,681,694 - 357,446 0.4% $3,681,694
Bought: 357,446 shares
Mid Cap Stock Trust DocuSign, Inc., Series B 2/28/2014 $81,224 - 6,185 0.0% * $73,725
Bought: 6,185 shares
Mid Cap Stock Trust DocuSign, Inc., Series B1 3/3/2014 $24,334 - 1,853 0.0% * $22,088
Bought: 1,853 shares
Mid Cap Stock Trust DocuSign, Inc., Series D 3/3/2014 $58,374 - 4,445 0.0% * $52,984
Bought: 4,445 shares
Mid Cap Stock Trust DocuSign, Inc., Series E 2/28/2014 $1,509,583 - 114,951 0.2% $1,370,216
Bought: 114,951 shares
Mid Cap Stock Trust Essence Group Holdings Corp. 5/1/2014 $2,308,001 - 1,459,559 0.3% $2,308,001
Bought: 1,459,559 shares
Mid Cap Stock Trust Lithium Technology Corp. 8/18/2014 $3,078,896 - 631,698 0.4% $3,078,896
Bought: 631,698 shares
Mid Cap Stock Trust Lookout, Inc., Series F 7/31/2014 $2,122,743 - 185,829 0.2% $2,122,743
Bought: 185,829 shares
Mid Cap Stock Trust New Relic, Inc., Series F 4/16/2014 $1,468,227 - 50,744 0.2% $1,468,227
Bought: 50,744 shares
Mid Cap Stock Trust Nutanix, Inc. 8/25/2014 $1,985,629 - 148,220 0.2% $1,985,629
Bought: 148,220 shares
Mid Cap Stock Trust One Kings Lane, Inc. 1/28/2014 $4,666,633 - 302,694 0.5% $4,431,440
Bought: 302,694 shares
Mid Cap Stock Trust Pure Storage, Inc., Series F 4/16/2014 $3,324,267 - 211,388 0.4% $3,324,267
Bought: 211,388 shares
Mid Cap Stock Trust The Honest Company, Inc. (Common Stock) 8/20/2014 $772,269 - 28,542 0.1% $772,269
Bought: 28,542 shares
Mid Cap Stock Trust The Honest Company, Inc. (Preferred Stock) 8/20/2014 $1,801,962 - 66,598 0.2% $1,801,962
Bought: 66,598 shares
Mid Cap Stock Trust Uber Technologies, Inc. 6/5/2014 $9,067,440 - 146,126 1.1% $9,067,440
Bought: 146,126 shares
Mid Cap Stock Trust Veracode, Inc. 8/26/2014 $2,528,610 - 136,934 0.3% $2,528,610
Bought: 136,934 shares
$42,842,869

415


Science & Technology Trust      Atlassian, Inc.      4/9/2014      $44,336      -      2,771      0.0%      *      $44,336
Bought: 2,771 shares
Science & Technology Trust Atlassian, Inc., Class A 4/9/2014 $30,544 - 1,909 0.0% * $30,544
Bought: 1,909 shares
Science & Technology Trust Atlassian, Inc., Class A Ordinary 4/9/2014 $159,488 - 9,968 0.0% * $159,488
  Bought: 9,968 shares
Science & Technology Trust Atlassian, Inc., Series 1 4/9/2014 $77,824 - 4,864 0.0% * $77,824
Bought: 4,864 shares
Science & Technology Trust Atlassian, Inc., Series 2 4/9/2014 $208,352 - 13,022 0.0% * $208,352
Bought: 13,022 shares
Science & Technology Trust Atlassian, Inc., Series A 4/9/2014 $154,080 - 9,630 0.0% * $154,080
Bought: 9,630 shares
Science & Technology Trust Cloudera, Inc., Series F 2/5/2014 $309,065 - 21,227 0.1% $590,705
Bought: 21,227 shares
Science & Technology Trust Dropbox, Inc. 5/2/2012 $67,334 7,441 7,441 0.0% * $122,107
Science & Technology Trust Dropbox, Inc., Series A 5/2/2012 $83,623 9,241 9,241 0.0% * $151,645
Science & Technology Trust Dropbox, Inc., Series A1 5/2/2012 $805,424 89,006 89,006 0.3% $1,460,588
$2,999,669
Small Cap Growth Trust Apigee Corp., Series H 4/17/2014 $1,828,950 - 628,505 0.4% $1,828,950
Bought: 628,505 shares
Small Cap Growth Trust Cloudera, Inc., Series F 2/5/2014 $1,153,560 - 79,228 0.4% $2,204,757
Bought: 79,228 shares
Small Cap Growth Trust DocuSign, Inc., Series B 2/28/2014 $38,557 - 2,936 0.0% * $34,997
Bought: 2,936 shares
Small Cap Growth Trust DocuSign, Inc., Series B1 3/3/2014 $11,557 - 880 0.0% * $10,490
Bought: 880 shares
Small Cap Growth Trust DocuSign, Inc., Series D 3/3/2014 $27,709 - 2,110 0.0% * $25,151
Bought: 2,110 shares
Small Cap Growth Trust DocuSign, Inc., Series E 3/3/2014 $716,674 - 54,573 0.1% $650,510
Bought: 54,573 shares
Small Cap Growth Trust Nutanix, Inc. 8/25/2014 $1,165,629 - 87,010 0.2% $1,165,629
Bought: 87,010 shares
Small Cap Growth Trust Pure Storage, Inc., Series F 4/16/2014 $1,398,378 - 88,922 0.3% $1,398,378
Bought: 88,922 shares
Small Cap Growth Trust Telogis, Inc. (Common Stock) 9/27/2013 $938,340 473,646 473,646 0.1% $634,686
Small Cap Growth Trust Telogis, Inc. (Preferred Stock) 9/27/2013 $1,419,833 645,027 645,027 0.4% $1,857,678
Small Cap Growth Trust Veracode, Inc. 8/26/2014 $1,211,529 - 65,609 0.2% $1,211,529
Bought: 65,609 shares
$11,022,755

*Less than 0.05%
**Two-for-one stock split on 9/5/2014

For additional information on the portfolios’ significant accounting policies, please refer to the portfolios’ most recent semiannual or annual shareholder report.

416

 

Item 2. Controls and Procedures.

 

(a)The Registrant’s principal executive and principal financial 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 have 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 financial officers as required by Rule 30a-2(a) under the Investment Company Act of 1940 are attached hereto as EX-99.CERT.

 

 

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.

 

Registrant: John Hancock Variable Insurance Trust

 

 

/s/ Andrew Arnott
Andrew Arnott
President
 
Date: November 12, 2014

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

 

 

/s/ Andrew Arnott
Andrew Arnott
President
 
Date: November 12, 2014
 
 
/s/ Charles A. Rizzo
Charles A. Rizzo
Chief Financial Officer
 
Date: November 12, 2014