N-Q 1 d32423.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: March 31, 2015

 

 

Item 1. Schedule of Investments.

 

 

 


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

500 Index Trust B

Shares or
Principal
Amount       Value
COMMON STOCKS - 96.5%
Consumer discretionary - 12.2%
Auto components - 0.4%
BorgWarner, Inc. 42,538 $ 2,572,698
Delphi Automotive PLC 54,558 4,350,455
Johnson Controls, Inc. 123,469 6,227,776
The Goodyear Tire & Rubber Company 50,394 1,364,670
14,515,599
Automobiles - 0.7%
Ford Motor Company 743,211 11,995,419
General Motors Company 254,128 9,529,800
Harley-Davidson, Inc. 39,833 2,419,456
23,944,675
Distributors - 0.1%
Genuine Parts Company 28,660 2,670,825
Diversified consumer services - 0.0%
H&R Block, Inc. 51,644 1,656,223
Hotels, restaurants and leisure - 1.7%
Carnival Corp. 84,625 4,048,460
Chipotle Mexican Grill, Inc. (I) 5,830 3,792,648
Darden Restaurants, Inc. 23,249 1,612,086
Marriott International, Inc., Class A 38,965 3,129,669
McDonald’s Corp. 180,607 17,598,346
Royal Caribbean Cruises, Ltd. 31,090 2,544,717
Starbucks Corp. 140,904 13,343,609
Starwood Hotels & Resorts Worldwide, Inc. 32,226 2,690,871
Wyndham Worldwide Corp. 22,716 2,055,117
Wynn Resorts, Ltd. 15,194 1,912,621
Yum! Brands, Inc. 81,372 6,405,604
59,133,748
Household durables - 0.4%
D.R. Horton, Inc. 62,309 1,774,560
Garmin, Ltd. 23,061 1,095,859
Harman International Industries, Inc. 12,889 1,722,357
Leggett & Platt, Inc. 26,360 1,214,932
Lennar Corp., Class A 33,472 1,734,184
Mohawk Industries, Inc. (I) 11,641 2,162,316
Newell Rubbermaid, Inc. 50,887 1,988,155
PulteGroup, Inc. 62,909 1,398,467
Whirlpool Corp. 14,658 2,961,795
16,052,625
Internet and catalog retail - 1.3%
Amazon.com, Inc. (I) 71,553 26,624,871
Expedia, Inc. 18,659 1,756,372
Netflix, Inc. (I) 11,366 4,736,099
The Priceline Group, Inc. (I) 9,758 11,359,776
TripAdvisor, Inc. (I) 20,931 1,740,831
46,217,949
Leisure products - 0.1%
Hasbro, Inc. (L) 20,784 1,314,380
Mattel, Inc. 63,653 1,454,471
2,768,851
Media - 3.4%
Cablevision Systems Corp., Class A (L) 42,019 768,948
CBS Corp., Class B 85,895 5,207,814
Comcast Corp., Class A 477,468   26,962,618
DIRECTV (I) 94,435 8,036,419
Discovery Communications, Inc., Series A (I) 28,262 869,339
Discovery Communications, Inc., Series C (I) 50,315 1,483,035
Gannett Company, Inc. 42,829 1,588,099
News Corp., Class A (I) 93,644 1,499,240
Omnicom Group, Inc. 46,337 3,613,359
Scripps Networks Interactive, Inc., Class A 18,121 1,242,376
The Interpublic Group of Companies, Inc. 77,347 1,710,916
The Walt Disney Company 293,821   30,818,885
Time Warner Cable, Inc. 52,755 7,906,919
Time Warner, Inc. 156,076 13,179,057
Twenty-First Century Fox, Inc., Class A 343,529 11,625,021
Viacom, Inc., Class B 68,601 4,685,448
121,197,493
Multiline retail - 0.8%
Dollar General Corp. (I) 57,004 4,296,962
Dollar Tree, Inc. (I) 38,639 3,135,362
Family Dollar Stores, Inc. 18,066 1,431,550
Kohl’s Corp. 37,927 2,967,788
Macy’s, Inc. 63,965 4,151,968
Nordstrom, Inc. 26,405 2,120,850
Target Corp. 119,671 9,821,399
27,925,879
Specialty retail - 2.4%
AutoNation, Inc. (I) 14,100 907,053
AutoZone, Inc. (I) 5,992 4,087,503
Bed Bath & Beyond, Inc. (I) 34,855 2,675,993
Best Buy Company, Inc. 54,657 2,065,488
CarMax, Inc. (I) 39,680 2,738,317
GameStop Corp., Class A (L) 20,366 773,093
L Brands, Inc. 46,175 4,353,841
Lowe’s Companies, Inc. 182,816 13,599,682
O’Reilly Automotive, Inc. (I) 19,100 4,130,184
Ross Stores, Inc. 38,876 4,095,975
Staples, Inc. 120,235 1,958,027
The Gap, Inc. 49,815 2,158,484
The Home Depot, Inc. 247,633 28,133,585
The TJX Companies, Inc. 128,247 8,983,702
Tiffany & Company 21,122 1,858,947
Tractor Supply Company 25,582 2,176,005
Urban Outfitters, Inc. (I) 19,043 869,313
85,565,192
Textiles, apparel and luxury goods - 0.9%
Coach, Inc. 51,722 2,142,842
Fossil Group, Inc. (I) 8,250 680,213
Hanesbrands, Inc. 75,265 2,522,130
Michael Kors Holdings, Ltd. (I) 37,798 2,485,219
NIKE, Inc., Class B 131,498 13,193,194
PVH Corp. 15,469 1,648,377
Ralph Lauren Corp. 11,374 1,495,681
Under Armour, Inc., Class A (I) 31,343 2,530,947
VF Corp. 64,317 4,843,713
31,542,316
433,191,375
Consumer staples - 9.4%
Beverages - 2.1%
Brown-Forman Corp., Class B 29,287 2,646,080
Coca-Cola Enterprises, Inc. 40,813 1,803,935
Constellation Brands, Inc., Class A (I) 31,629 3,675,606
Dr. Pepper Snapple Group, Inc. 36,241 2,844,194
Molson Coors Brewing Company, Class B 30,012 2,234,393
Monster Beverage Corp. (I) 27,475 3,802,403
PepsiCo, Inc. 278,556 26,635,525

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

500 Index Trust B (continued)

Shares or      
Principal
Amount Value
COMMON STOCKS (continued)
Beverages (continued)
The Coca-Cola Company 738,407 $ 29,942,404
73,584,540
Food and staples retailing - 2.4%
Costco Wholesale Corp. 82,678 12,525,304
CVS Health Corp. 211,460 21,824,787
Sysco Corp. 111,202 4,195,651
The Kroger Company 92,332 7,078,171
Wal-Mart Stores, Inc. 296,795 24,411,389
Walgreens Boots Alliance, Inc. 163,845 13,874,395
Whole Foods Market, Inc. 67,780 3,529,982
87,439,679
Food products - 1.6%
Archer-Daniels-Midland Company 119,142 5,647,331
Campbell Soup Company 33,622 1,565,104
ConAgra Foods, Inc. 79,925 2,919,660
General Mills, Inc. 113,390 6,417,874
Hormel Foods Corp. 25,402 1,444,104
Kellogg Company 47,507 3,133,087
Keurig Green Mountain, Inc. 22,778 2,544,986
Kraft Foods Group, Inc. 110,455   9,622,287
McCormick & Company, Inc. 24,329 1,876,009
Mead Johnson Nutrition Company 37,991 3,819,235
Mondelez International, Inc., Class A 309,918 11,184,941
The Hershey Company 27,781 2,803,381
The J.M. Smucker Company 19,091 2,209,401
Tyson Foods, Inc., Class A 54,810 2,099,223
57,286,623
Household products - 1.8%
Colgate-Palmolive Company 160,230 11,110,348
Kimberly-Clark Corp. 68,695 7,357,921
The Clorox Company 24,629 2,718,795
The Procter & Gamble Company 507,482   41,583,075
62,770,139
Personal products - 0.1%
The Estee Lauder Companies, Inc., Class A 41,906 3,484,903
Tobacco - 1.4%
Altria Group, Inc. 370,100 18,512,402
Lorillard, Inc. 67,610 4,418,314
Philip Morris International, Inc. 290,654 21,894,966
Reynolds American, Inc. 57,910 3,990,578
48,816,260
333,382,144
Energy - 7.8%
Energy equipment and services - 1.2%
Baker Hughes, Inc. 81,601 5,188,192
Cameron International Corp. (I) 36,408 1,642,729
Diamond Offshore Drilling, Inc. (L) 12,142 325,284
Ensco PLC, Class A 44,693 941,682
FMC Technologies, Inc. (I) 43,888 1,624,295
Halliburton Company 159,571 7,001,975
Helmerich & Payne, Inc. 20,413 1,389,513
National Oilwell Varco, Inc. 76,900 3,844,231
Noble Corp. PLC 45,339 647,441
Schlumberger, Ltd. 239,589 19,991,306
Transocean, Ltd. (L) 64,875 951,716
43,548,364
Oil, gas and consumable fuels - 6.6%
Anadarko Petroleum Corp. 95,201 7,883,595
Apache Corp. 70,785 4,270,459
Cabot Oil & Gas Corp. 77,622 2,292,178
Chesapeake Energy Corp. (L) 97,088 1,374,766
Chevron Corp. 353,305 37,089,959
Cimarex Energy Company 16,448 1,893,000
ConocoPhillips 231,406 14,407,338
CONSOL Energy, Inc. 43,510 1,213,494
Devon Energy Corp. 72,595 4,378,204
EOG Resources, Inc. 103,060 9,449,571
EQT Corp. 28,528 2,364,115
Exxon Mobil Corp. 788,248 67,001,080
Hess Corp. 45,631 3,096,976
Kinder Morgan, Inc. 320,146 13,465,341
Marathon Oil Corp. 126,760 3,309,704
Marathon Petroleum Corp. 51,427 5,265,611
Murphy Oil Corp. 31,457 1,465,896
Newfield Exploration Company (I) 30,165 1,058,490
Noble Energy, Inc. 72,640 3,552,096
Occidental Petroleum Corp. 144,783 10,569,159
ONEOK, Inc. 39,073 1,884,882
Phillips 66 102,079 8,023,409
Pioneer Natural Resources Company 27,987 4,576,154
QEP Resources, Inc. 30,428 634,424
Range Resources Corp. 30,835 1,604,653
Southwestern Energy Company (I)(L) 72,169 1,673,599
Spectra Energy Corp. 125,969 4,556,299
Tesoro Corp. 23,539 2,148,875
The Williams Companies, Inc. 126,432 6,396,195
Valero Energy Corp. 96,716 6,153,072
233,052,594
276,600,958
Financials - 15.6%
Banks - 5.5%
Bank of America Corp. 1,976,583 30,419,612
BB&T Corp. 135,315 5,275,932
Citigroup, Inc. 570,048 29,368,873
Comerica, Inc. 33,226 1,499,489
Fifth Third Bancorp 153,645 2,896,208
Huntington Bancshares, Inc. 150,840 1,666,782
JPMorgan Chase & Co. 700,569 42,440,470
KeyCorp 161,743 2,290,281
M&T Bank Corp. 24,950 3,168,650
Regions Financial Corp. 253,234 2,393,061
SunTrust Banks, Inc. 98,445 4,045,105
The PNC Financial Services Group, Inc. 97,834 9,122,042
U.S. Bancorp 334,724 14,617,397
Wells Fargo & Company 881,076 47,930,534
Zions Bancorporation 38,401 1,036,827
198,171,263
Capital markets - 2.1%
Affiliated Managers Group, Inc. (I) 10,197 2,190,112
Ameriprise Financial, Inc. 34,274 4,484,410
BlackRock, Inc. 23,846 8,723,821
E*TRADE Financial Corp. (I) 54,596 1,558,989
Franklin Resources, Inc. 73,618 3,778,076
Invesco, Ltd. 80,604 3,199,173
Legg Mason, Inc. 18,532 1,022,966
Morgan Stanley 289,673 10,338,429
Northern Trust Corp. 41,204 2,869,859
State Street Corp. 77,459 5,695,560
T. Rowe Price Group, Inc. 48,990 3,967,210

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

500 Index Trust B (continued)

Shares or      
Principal
Amount Value
COMMON STOCKS (continued)
Capital markets (continued)
The Bank of New York Mellon Corp. 209,265 $ 8,420,824
The Charles Schwab Corp. 216,776 6,598,661
The Goldman Sachs Group, Inc. 76,121 14,308,464
77,156,554
Consumer finance - 0.8%
American Express Company 164,682 12,864,958
Capital One Financial Corp. 103,594 8,165,279
Discover Financial Services 84,003 4,733,569
Navient Corp. 75,913 1,543,311
27,307,117
Diversified financial services - 2.0%
Berkshire Hathaway, Inc., Class B (I) 342,710 49,459,907
CME Group, Inc. 59,601 5,644,811
Intercontinental Exchange Group, Inc. 21,047 4,909,634
Leucadia National Corp. 59,676 1,330,178
McGraw-Hill Financial, Inc. 51,393 5,314,036
Moody’s Corp. 33,281 3,454,568
The NASDAQ OMX Group, Inc. 22,218 1,131,785
71,244,919
Insurance - 2.6%
ACE, Ltd. 61,476 6,853,959
Aflac, Inc. 82,666 5,291,451
American International Group, Inc. 257,808 14,125,300
Aon PLC 52,683 5,063,890
Assurant, Inc. 12,911   792,865
Cincinnati Financial Corp. 27,707 1,476,229
Genworth Financial, Inc., Class A (I) 91,936   672,052
Lincoln National Corp. 48,233 2,771,468
Loews Corp. 55,953 2,284,561
Marsh & McLennan Companies, Inc. 101,248 5,679,000
MetLife, Inc. 209,732 10,601,953
Principal Financial Group, Inc. 51,341 2,637,387
Prudential Financial, Inc. 85,260 6,847,231
The Allstate Corp. 78,188 5,564,640
The Chubb Corp. 43,303 4,377,933
The Hartford Financial Services Group, Inc. 79,438 3,322,097
The Progressive Corp. 100,515 2,734,008
The Travelers Companies, Inc. 60,372 6,528,024
Torchmark Corp. 24,150 1,326,318
Unum Group 47,383 1,598,229
XL Group PLC 48,343 1,779,022
92,327,617
Real estate investment trusts - 2.4%
American Tower Corp. 79,434 7,478,711
Apartment Investment & Management
       Company, Class A 29,269 1,152,028
AvalonBay Communities, Inc. 24,814 4,323,840
Boston Properties, Inc. 28,804 4,046,386
Crown Castle International Corp. 62,708 5,175,918
Equity Residential 68,369 5,323,210
Essex Property Trust, Inc. 12,246 2,815,355
General Growth Properties, Inc. 118,046 3,488,259
HCP, Inc. 86,467 3,736,239
Health Care REIT, Inc. 65,651 5,078,761
Host Hotels & Resorts, Inc. 142,152 2,868,627
Iron Mountain, Inc. 35,117 1,281,068
Kimco Realty Corp. 77,398 2,078,136
Plum Creek Timber Company, Inc. 33,155 1,440,585
Prologis, Inc. 96,172 4,189,252
Public Storage 27,300 5,381,922
Simon Property Group, Inc. 58,430 11,431,245
SL Green Realty Corp. 18,522 2,377,854
The Macerich Company 26,425 2,228,420
Ventas, Inc. 62,142 4,537,609
Vornado Realty Trust 32,838 3,677,856
Weyerhaeuser Company 98,574 3,267,728
87,379,009
Real estate management and development - 0.1%
CBRE Group, Inc., Class A (I) 52,515 2,032,856
Thrifts and mortgage finance - 0.1%
Hudson City Bancorp, Inc. 89,361 936,503
People’s United Financial, Inc. 58,052 882,390
1,818,893
557,438,228
Health care - 14.4%
Biotechnology - 2.9%
Alexion Pharmaceuticals, Inc. (I) 37,981 6,582,107
Amgen, Inc. 142,591 22,793,171
Biogen, Inc. (I) 44,085 18,614,450
Celgene Corp. (I) 150,434 17,342,032
Gilead Sciences, Inc. (I) 279,862 27,462,858
Regeneron Pharmaceuticals, Inc. (I) 13,862 6,258,416
Vertex Pharmaceuticals, Inc. (I) 45,487 5,366,101
104,419,135
Health care equipment and supplies - 2.1%
Abbott Laboratories 283,491 13,134,138
Baxter International, Inc. 101,895 6,979,808
Becton, Dickinson and Company 39,191 5,627,436
Boston Scientific Corp. (I) 249,897 4,435,672
C.R. Bard, Inc. 14,050 2,351,268
DENTSPLY International, Inc. 26,597 1,353,521
Edwards Lifesciences Corp. (I) 20,250 2,884,815
Intuitive Surgical, Inc. (I) 6,871 3,470,061
Medtronic PLC 267,741 20,881,121
St. Jude Medical, Inc. 52,985 3,465,219
Stryker Corp. 56,170 5,181,683
Varian Medical Systems, Inc. (I) 18,806 1,769,457
Zimmer Holdings, Inc. 31,890 3,747,713
75,281,912
Health care providers and services - 2.7%
Aetna, Inc. 66,080 7,039,502
AmerisourceBergen Corp. 39,204 4,456,319
Anthem, Inc. 50,132 7,740,882
Cardinal Health, Inc. 62,010 5,597,643
Cigna Corp. 48,564 6,286,124
DaVita HealthCare Partners, Inc. (I) 32,423 2,635,341
Express Scripts Holding Company (I) 136,582 11,851,220
HCA Holdings, Inc. (I) 55,305 4,160,595
Henry Schein, Inc. (I) 15,722 2,195,106
Humana, Inc. 28,143 5,010,017
Laboratory Corp. of America Holdings (I) 18,836 2,375,031
McKesson Corp. 43,755 9,897,381
Patterson Companies, Inc. 16,352 797,814
Quest Diagnostics, Inc. 27,082 2,081,252
Tenet Healthcare Corp. (I) 18,303 906,182
UnitedHealth Group, Inc. 179,222 21,200,170
Universal Health Services, Inc., Class B 17,093 2,012,017
96,242,596
Health care technology - 0.1%
Cerner Corp. (I) 57,307 4,198,311

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (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. 63,010 $ 2,618,066
PerkinElmer, Inc. 21,406 1,094,703
Thermo Fisher Scientific, Inc. 74,539 10,013,569
Waters Corp. (I) 15,697 1,951,451
15,677,789
Pharmaceuticals - 6.1%
AbbVie, Inc. 299,484 17,531,793
Actavis PLC (I) 73,374 21,837,570
Bristol-Myers Squibb Company 312,336 20,145,672
Eli Lilly & Company 183,740 13,348,711
Endo International PLC (I) 33,341 2,990,688
Hospira, Inc. (I) 32,189   2,827,482
Johnson & Johnson 522,479 52,561,387
Mallinckrodt PLC (I) 21,883 2,771,482
Merck & Company, Inc. 533,327 30,655,636
Mylan NV (I) 70,050 4,157,468
Perrigo Company PLC 26,450   4,378,798
Pfizer, Inc. 1,151,654 40,066,043
Zoetis, Inc. 94,087 4,355,287
217,628,017
513,447,760
Industrials - 10.0%
Aerospace and defense - 2.7%
General Dynamics Corp. 59,208 8,036,302
Honeywell International, Inc. 147,071 15,340,976
L-3 Communications Holdings, Inc. 15,607 1,963,205
Lockheed Martin Corp. 50,409 10,231,011
Northrop Grumman Corp. 37,270 5,998,979
Precision Castparts Corp. 26,629 5,592,090
Raytheon Company 57,725 6,306,456
Rockwell Collins, Inc. 24,952 2,409,116
Textron, Inc. 51,964 2,303,564
The Boeing Company 123,091 18,473,497
United Technologies Corp. 155,274 18,198,113
94,853,309
Air freight and logistics - 0.7%
C.H. Robinson Worldwide, Inc. 27,451 2,009,962
Expeditors International of Washington, Inc. 36,125 1,740,503
FedEx Corp. 49,505 8,190,602
United Parcel Service, Inc., Class B 130,578 12,658,231
24,599,298
Airlines - 0.6%
American Airlines Group, Inc. 134,766 7,112,949
Delta Air Lines, Inc. 154,863 6,962,640
Southwest Airlines Company 127,017 5,626,853
19,702,442
Building products - 0.1%
Allegion PLC 18,154 1,110,480
Masco Corp. 65,384 1,745,753
2,856,233
Commercial services and supplies - 0.4%
Cintas Corp. 18,306 1,494,319
Pitney Bowes, Inc. 38,573 899,522
Republic Services, Inc. 47,154 1,912,566
Stericycle, Inc. (I) 15,958 2,240,982
The ADT Corp. 32,540 1,351,061
Tyco International, Ltd. 78,864 3,395,884
Waste Management, Inc. 80,194 4,348,921
15,643,255
Construction and engineering - 0.1%
Fluor Corp. 27,672 1,581,732
Jacobs Engineering Group, Inc. (I) 24,215 1,093,549
Quanta Services, Inc. (I) 39,963 1,140,144
3,815,425
Electrical equipment - 0.5%
AMETEK, Inc. 45,131 2,371,183
Eaton Corp. PLC 89,135 6,055,832
Emerson Electric Company 128,672 7,285,409
Rockwell Automation, Inc. 25,427 2,949,278
18,661,702
Industrial conglomerates - 2.2%
3M Company 119,281 19,675,401
Danaher Corp. 115,352 9,793,385
General Electric Company 1,891,075 46,917,571
Roper Industries, Inc. 18,850 3,242,200
79,628,557
Machinery - 1.4%
Caterpillar, Inc. 113,889 9,114,537
Cummins, Inc. 31,623 4,384,213
Deere & Company 63,817 5,596,113
Dover Corp. 30,610 2,115,763
Flowserve Corp. 25,611 1,446,765
Illinois Tool Works, Inc. 65,578 6,370,247
Ingersoll-Rand PLC 49,449 3,366,488
Joy Global, Inc. 17,890 700,930
PACCAR, Inc. 66,581 4,203,924
Pall Corp. 20,011 2,008,904
Parker Hannifin Corp. 26,729 3,174,871
Pentair PLC 34,278 2,155,743
Snap-on, Inc. 10,897 1,602,513
Stanley Black & Decker, Inc. 29,525 2,815,504
Xylem, Inc. 34,577 1,210,887
50,267,402
Professional services - 0.2%
Equifax, Inc. 22,494 2,091,942
Nielsen NV 59,459 2,650,088
Robert Half International, Inc. 25,332 1,533,093
The Dun & Bradstreet Corp. 6,759 867,585
7,142,708
Road and rail - 0.9%
CSX Corp. 186,086 6,163,168
Kansas City Southern 20,734 2,116,527
Norfolk Southern Corp. 57,746 5,943,218
Ryder Systems, Inc. 10,087 957,155
Union Pacific Corp. 165,623 17,938,627
33,118,695
Trading companies and distributors - 0.2%
Fastenal Company 51,033 2,114,552
United Rentals, Inc. (I) 18,314 1,669,504
W.W. Grainger, Inc. 11,278 2,659,465
6,443,521
356,732,547

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

500 Index Trust B (continued)

Shares or      
Principal
Amount Value
COMMON STOCKS (continued)
Information technology - 19.0%
Communications equipment - 1.5%
Cisco Systems, Inc. 959,189 $ 26,401,677
F5 Networks, Inc. (I) 13,454 1,546,403
Harris Corp. 19,506 1,536,293
Juniper Networks, Inc. 67,939 1,534,063
Motorola Solutions, Inc. 35,802 2,386,919
QUALCOMM, Inc. 309,951 21,492,002
54,897,357
Electronic equipment, instruments and components - 0.4%
Amphenol Corp., Class A 58,260 3,433,262
Corning, Inc. 238,790 5,415,757
FLIR Systems, Inc. 26,199 819,505
TE Connectivity, Ltd. 76,317 5,465,824
15,134,348
Internet software and services - 3.3%
Akamai Technologies, Inc. (I) 33,577 2,385,478
eBay, Inc. (I) 206,894 11,933,646
Equinix, Inc. 10,614 2,471,470
Facebook, Inc., Class A (I) 394,455 32,430,118
Google, Inc., Class A (I) 53,658 29,764,093
Google, Inc., Class C (I) 53,770 29,465,960
VeriSign, Inc. (I)(L) 20,018 1,340,605
Yahoo!, Inc. (I) 163,560   7,267,789
117,059,159
IT services - 3.3%
Accenture PLC, Class A 118,043   11,059,449
Alliance Data Systems Corp. (I) 11,851 3,510,859
Automatic Data Processing, Inc. 89,327 7,649,964
Cognizant Technology
       Solutions Corp., Class A (I) 114,553 7,146,962
Computer Sciences Corp. 26,480 1,728,614
Fidelity National Information Services, Inc. 53,562 3,645,430
Fiserv, Inc. (I) 44,684 3,547,910
IBM Corp. 172,725 27,722,363
MasterCard, Inc., Class A 183,439 15,847,295
Paychex, Inc. 61,404 3,046,559
Teradata Corp. (I) 27,237 1,202,241
The Western Union Company 97,800 2,035,218
Total System Services, Inc. 30,662 1,169,755
Visa, Inc., Class A 364,580 23,847,178
Xerox Corp. 196,249 2,521,800
115,681,597
Semiconductors and semiconductor equipment - 2.3%
Altera Corp. 56,582 2,427,934
Analog Devices, Inc. 58,545 3,688,335
Applied Materials, Inc. 230,876 5,208,563
Avago Technologies, Ltd. 48,219 6,122,849
Broadcom Corp., Class A 102,439 4,435,097
First Solar, Inc. (I) 14,360 858,584
Intel Corp. 889,996 27,830,175
KLA-Tencor Corp. 30,289 1,765,546
Lam Research Corp. 29,932 2,102,274
Linear Technology Corp. 44,921 2,102,303
Microchip Technology, Inc. 37,820 1,849,398
Micron Technology, Inc. (I) 202,406 5,491,275
NVIDIA Corp. 96,944 2,028,553
Skyworks Solutions, Inc. 35,864 3,525,073
Texas Instruments, Inc. 196,799 11,253,951
Xilinx, Inc. 49,389 2,089,155
82,779,065
Software - 3.5%
Adobe Systems, Inc. (I) 89,410 6,610,975
Autodesk, Inc. (I) 42,572 2,496,422
CA, Inc. 59,929 1,954,285
Citrix Systems, Inc. (I) 30,308 1,935,772
Electronic Arts, Inc. (I) 58,416 3,435,737
Intuit, Inc. 51,988 5,040,756
Microsoft Corp. 1,541,545 62,671,512
Oracle Corp. 602,360 25,991,834
Red Hat, Inc. (I) 34,532 2,615,799
salesforce.com, Inc. (I) 113,680 7,594,961
Symantec Corp. 128,075 2,992,472
123,340,525
Technology hardware, storage and peripherals - 4.7%
Apple, Inc. 1,094,515 136,190,501
EMC Corp. 373,500 9,546,660
Hewlett-Packard Company 341,478 10,640,454
NetApp, Inc. 58,510 2,074,765
SanDisk Corp. 40,004 2,545,054
Seagate Technology PLC 61,649 3,207,597
Western Digital Corp. 40,787 3,712,025
167,917,056
676,809,107
Materials - 3.0%
Chemicals - 2.3%
Air Products & Chemicals, Inc. 36,235 5,481,631
Airgas, Inc. 12,678 1,345,263
CF Industries Holdings, Inc. 8,997 2,552,269
E.I. du Pont de Nemours & Company 170,132 12,159,334
Eastman Chemical Company 27,953 1,936,025
Ecolab, Inc. 50,600 5,787,628
FMC Corp. 25,044 1,433,769
International Flavors & Fragrances, Inc. 15,159 1,779,667
LyondellBasell Industries NV, Class A 74,395 6,531,881
Monsanto Company 90,810 10,219,757
PPG Industries, Inc. 25,567 5,766,381
Praxair, Inc. 54,258 6,551,111
Sigma-Aldrich Corp. 22,447 3,103,298
The Dow Chemical Company 204,440 9,809,031
The Mosaic Company 58,709 2,704,137
The Sherwin-Williams Company 15,162 4,313,589
81,474,771
Construction materials - 0.1%
Martin Marietta Materials, Inc. 11,605 1,622,379
Vulcan Materials Company 24,782 2,089,123
3,711,502
Containers and packaging - 0.2%
Avery Dennison Corp. 17,180 908,994
Ball Corp. 25,793 1,822,018
MeadWestvaco Corp. 31,447 1,568,262
Owens-Illinois, Inc. (I) 30,796 718,163
Sealed Air Corp. 39,474 1,798,435
6,815,872
Metals and mining - 0.3%
Alcoa, Inc. 229,611 2,966,574
Allegheny Technologies, Inc. 20,210 606,502
Freeport-McMoRan, Inc. 195,268 3,700,329
Newmont Mining Corp. 93,774 2,035,834
Nucor Corp. 59,914 2,847,712
12,156,951

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

500 Index Trust B (continued)

Shares or      
Principal
Amount Value
COMMON STOCKS (continued)
Paper and forest products - 0.1%
International Paper Company 79,385 $ 4,405,074
108,564,170
Telecommunication services - 2.2%
Diversified telecommunication services - 2.2%
AT&T, Inc. 975,224 31,841,064
CenturyLink, Inc. 106,287 3,672,216
Frontier Communications Corp. 188,429 1,328,424
Level 3 Communications, Inc. (I) 53,871 2,900,415
Verizon Communications, Inc. 780,784 37,969,526
Windstream Holdings, Inc. (L) 115,368 853,723
78,565,368
Utilities - 2.9%
Electric utilities - 1.7%
American Electric Power Company, Inc. 92,031 5,176,744
Duke Energy Corp. 132,983 10,210,435
Edison International 61,253 3,826,475
Entergy Corp. 33,889 2,626,059
Eversource Energy 59,497 3,005,788
Exelon Corp. 161,530 5,429,023
FirstEnergy Corp. 79,073 2,772,299
NextEra Energy, Inc. 83,368 8,674,440
Pepco Holdings, Inc. 47,489 1,274,130
Pinnacle West Capital Corp. 20,922 1,333,778
PPL Corp. 125,261 4,216,285
The Southern Company 171,012 7,572,411
Xcel Energy, Inc. 95,081 3,309,770
59,427,637
Gas utilities - 0.0%
AGL Resources, Inc. 22,724 1,128,247
Independent power and renewable electricity producers - 0.1%
AES Corp. 120,422 1,547,423
NRG Energy, Inc. 63,419 1,597,525
3,144,948
Multi-utilities - 1.1%
Ameren Corp. 45,545 1,921,999
CenterPoint Energy, Inc. 80,549 1,644,005
CMS Energy Corp. 51,696 1,804,707
Consolidated Edison, Inc. 55,034 3,357,074
Dominion Resources, Inc. 110,554 7,834,962
DTE Energy Company 33,303 2,687,219
Integrys Energy Group, Inc. 14,857 1,070,001
NiSource, Inc. 59,397 2,622,972
PG&E Corp. 89,537 4,751,729
Public Service Enterprise Group, Inc. 95,123 3,987,556
SCANA Corp. 26,788 1,473,072
Sempra Energy 43,513 4,743,787
TECO Energy, Inc. 44,786 868,848
Wisconsin Energy Corp. 42,359 2,096,771
40,864,702
104,565,534
TOTAL COMMON STOCKS (Cost $1,948,430,883) $ 3,439,297,191
       
SECURITIES LENDING COLLATERAL - 0.2%
John Hancock
       Collateral Trust, 0.1102% (W)(Y) 791,129 7,915,249
TOTAL SECURITIES LENDING
COLLATERAL (Cost $7,915,327) $ 7,915,249
             
SHORT-TERM INVESTMENTS - 3.3%
Repurchase agreement - 3.3%
Repurchase Agreement with State Street Corp.
       dated 03/31/2015 at 0.000% to be
       repurchased at $117,886,000 on 04/01/2015,
       collateralized by $95,340,000 U.S. Treasury  
       Bonds, 3.750% due 11/15/2043 (valued at  
       $120,252,342, including interest) $ 117,886,000 $ 117,886,000
TOTAL SHORT-TERM INVESTMENTS (Cost $117,886,000) $ 117,886,000
Total Investments (500 Index Trust B)
       (Cost $2,074,232,210) - 100.0% $ 3,565,098,440
Other assets and liabilities, net - 0.0% (1,445,371 )
TOTAL NET ASSETS - 100.0% $ 3,563,653,069

Active Bond Trust

Shares or      
Principal
Amount Value
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS - 23.7%
U.S. Government - 7.9%
Treasury Inflation Protected Securities
       0.250%, 01/15/2025 $ 2,072,406 $ 2,088,272
U.S. Treasury Bonds
       3.000%, 11/15/2044 25,975,000 28,464,938
       3.125%, 02/15/2042 10,105,000 11,290,761
U.S. Treasury Notes
       2.375%, 12/31/2020 2,500,000 2,615,820
       2.000%, 02/15/2025 21,690,000 21,827,254
66,287,045
U.S. Government Agency - 15.8%
Federal Home Loan Bank
       2.900%, 09/05/2025 300,000 298,137
       3.170%, 10/04/2027 310,000 308,438
       3.250%, 06/21/2027 415,152   415,283
       3.500%, 07/01/2043 4,510,683 4,748,727
Federal Home Loan Mortgage Corp.  
       3.000%, 03/01/2043 2,127,652 2,187,884
       3.009%, 03/01/2044 (P)   212,586 222,131
       4.000%, 11/01/2043 to 02/01/2044 2,544,774 2,745,842
       4.500%, 09/01/2023 to 10/01/2041 6,579,212 7,186,778
       5.000%, 03/01/2041 654,645 731,208
       5.500%, 07/01/2037 42,969 48,506
Federal National Mortgage Association
       2.112%, 08/01/2034 (P) 1,623,973 1,716,437
       2.497%, 07/01/2033 (P) 45,379 48,534
       2.525%, 06/01/2044 (P) 1,334,621 1,384,301
       2.547%, 04/01/2044 (P) 1,224,036 1,269,228
       2.908%, 03/01/2044 (P) 200,834 209,435
       3.000%, 07/01/2027 to 04/14/2045 15,799,601 16,181,423
       3.400%, 09/27/2032 1,145,000 1,146,834
       3.500%, 02/01/2026 to 06/01/2042 8,519,155 9,017,191
       4.000%, 10/01/2025 to 01/01/2044 14,523,085 15,681,357
       4.500%, 08/01/2040 to 08/01/2041 18,697,600 20,516,085
       5.000%, 05/01/2018 to 04/01/2041 16,089,448 17,952,370
       5.500%, 02/01/2018 to 11/01/2039 9,257,900 10,441,519
       6.000%, 05/01/2035 to 02/01/2036 5,286,709 6,082,823

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

John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (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)
Federal National Mortgage
Association (continued)
       6.500%, 02/01/2036 to 06/01/2039 $ 2,586,269 $ 2,978,549
       7.000%, 04/01/2017 to 06/01/2032 312,506 367,386
       7.500%, 09/01/2029 to 08/01/2031 76,199 91,811
Government National
       Mortgage Association
       4.000%, 02/15/2041 5,422,680 5,826,508
       5.000%, 04/15/2035 808,710 905,116
       5.500%, 03/15/2035 473,728 540,674
       6.000%, 03/15/2033 to 06/15/2033 379,833 442,570
       6.500%, 09/15/2028 to 08/15/2031 101,666 119,111
       7.000%, 04/15/2029 57,745 68,339
       8.000%, 10/15/2026 to 05/15/2029 70,277 83,801
131,964,336
TOTAL U.S. GOVERNMENT AND AGENCY
OBLIGATIONS (Cost $191,913,708) $ 198,251,381
           
FOREIGN GOVERNMENT
OBLIGATIONS - 0.6%
Argentina - 0.2%
City of Buenos Aires  
       9.950%, 03/01/2017 (S) 620,000 643,250
Republic of Argentina  
       1.000%, 12/15/2035 (P) ARS 19,532,033 168,418
       8.280%, 12/31/2033 (H) $ 455,662 455,890
1,267,558
Germany - 0.2%
Federal Republic of Germany
       6.250%, 01/04/2030 EUR 725,000 1,440,449
Mexico - 0.1%
Government of Mexico
       8.000%, 12/07/2023 MXN 11,861,100 887,137
Panama - 0.1%
Republic of Panama
       8.875%, 09/30/2027 $ 344,000 506,540
       9.375%, 04/01/2029 130,000 198,900
705,440
United Kingdom - 0.0%
Government of United Kingdom
       6.000%, 12/07/2028 GBP 85,000 190,688
       8.000%, 12/07/2015 125,000 195,107
385,795
TOTAL FOREIGN GOVERNMENT
OBLIGATIONS (Cost $4,063,562) $ 4,686,379
           
CORPORATE BONDS - 41.8%
Consumer discretionary - 4.7%
21st Century Fox America, Inc.
       6.150%, 03/01/2037 $ 210,000 271,192
       6.400%, 12/15/2035 205,000 269,723
       6.650%, 11/15/2037 1,000,000 1,348,624
       6.750%, 01/09/2038 108,000 144,863
       7.750%, 12/01/2045 491,000 740,739
Advance Auto Parts, Inc.
       4.500%, 12/01/2023 650,000 697,002
Altice Financing SA
       6.500%, 01/15/2022 (S) 230,000 236,469
       6.625%, 02/15/2023 (S) 290,000 298,700
Amazon.com, Inc.
       4.950%, 12/05/2044 770,000 840,143
AMC Entertainment, Inc.
       5.875%, 02/15/2022 555,000 575,813
Argos Merger Sub, Inc.
       7.125%, 03/15/2023 (S) 185,000 191,706
AutoNation, Inc.
       5.500%, 02/01/2020 925,000 1,013,070
Brinker International, Inc.
       3.875%, 05/15/2023 740,000 740,272
CCM Merger, Inc.
       9.125%, 05/01/2019 (S) 490,000 534,100
Cleopatra Finance, Ltd.
       6.500%, 02/15/2025 (S) 330,000 318,450
Comcast Corp.
       6.550%, 07/01/2039 1,000,000 1,366,831
Conn’s, Inc.
       7.250%, 07/15/2022 (L)(S) 320,000 288,000
Dana Holding Corp.
       6.000%, 09/15/2023 565,000 601,725
Delphi Corp.
       5.000%, 02/15/2023 1,505,000 1,614,113
DIRECTV Holdings LLC
       3.950%, 01/15/2025 500,000 515,139
DR Horton, Inc.
       4.000%, 02/15/2020 240,000 242,400
Family Tree Escrow LLC
       5.750%, 03/01/2023 (S) 320,000 336,000
FCA US LLC
       8.000%, 06/15/2019 245,000 256,944
Ford Motor Company
       4.750%, 01/15/2043 215,000 235,102
Ford Motor Credit Company LLC
       5.875%, 08/02/2021 2,644,000 3,112,522
       8.000%, 12/15/2016 624,000 691,182
General Motors Company
       4.875%, 10/02/2023 610,000 660,456
       6.250%, 10/02/2043 560,000 686,106
General Motors Financial Company, Inc.
       4.000%, 01/15/2025 825,000 841,431
       4.375%, 09/25/2021 485,000 516,641
Grain Spectrum Funding II LLC
       3.290%, 10/10/2019 (S) 500,000 500,625
Harley-Davidson Financial Services, Inc.
       2.700%, 03/15/2017 (S) 1,000,000 1,028,421
Hot Topic, Inc.
       9.250%, 06/15/2021 (S) 325,000 351,813
Hyatt Hotels Corp.
       3.375%, 07/15/2023 1,160,000 1,172,306
Jo-Ann Stores Holdings, Inc., PIK
       9.750%, 10/15/2019 (S) 715,000 693,550
L Brands, Inc.
       6.625%, 04/01/2021 755,000 864,860
Macy’s Retail Holdings, Inc.
       7.875%, 08/15/2036 602,000 649,651
MDC Holdings, Inc.
       5.500%, 01/15/2024 670,000 653,250
MGM Resorts International
       6.000%, 03/15/2023 690,000 708,975
Pearson Funding Five PLC
       3.250%, 05/08/2023 (S) 660,000 658,627
QVC, Inc.
       4.375%, 03/15/2023 410,000 417,729

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Active Bond Trust (continued)

Shares or      
Principal
Amount Value
CORPORATE BONDS (continued)
Consumer discretionary (continued)
QVC, Inc. (continued)
       5.125%, 07/02/2022 $ 360,000 $ 382,674
       5.450%, 08/15/2034 475,000 471,172
Seminole Tribe of Florida, Inc.
       6.535%, 10/01/2020 (S) 505,000 542,875
Stackpole International Intermediate
       Company SA
       7.750%, 10/15/2021 (S) 325,000 321,750
Target Corp.
       6.500%, 10/15/2037 657,000 914,242
Time Warner Cable, Inc.
       4.500%, 09/15/2042 850,000 878,938
       5.500%, 09/01/2041 750,000 860,380
       8.250%, 04/01/2019 510,000 623,801
Time Warner Companies, Inc.
       7.570%, 02/01/2024 716,000 936,759
Time Warner Entertainment Company LP
       8.375%, 07/15/2033 300,000 440,001
Time Warner, Inc.
       7.625%, 04/15/2031 451,000 630,643
Toll Brothers Finance Corp.
       4.000%, 12/31/2018 600,000 616,500
Tops Holding II Corp.  
       8.750%, 06/15/2018   340,000   329,800
Viacom, Inc.
       4.375%, 03/15/2043 1,142,000 1,064,792
       6.125%, 10/05/2017 750,000 830,282
Waterford Gaming LLC
       8.625%, 09/15/2049 (S) 404,290 21,804
Yum! Brands, Inc.
       3.875%, 11/01/2023 600,000 623,633
       5.350%, 11/01/2043 600,000 664,677
       6.250%, 03/15/2018 155,000 174,014
       6.875%, 11/15/2037 292,000 384,367
39,598,369
Consumer staples - 1.4%
Alliance One International, Inc.
       9.875%, 07/15/2021 970,000 848,750
Anheuser-Busch Companies, Inc.
       6.500%, 02/01/2043 540,000 749,600
Bunge, Ltd. Finance Corp.
       8.500%, 06/15/2019 405,000 499,058
Constellation Brands, Inc.
       4.250%, 05/01/2023 495,000 509,231
       4.750%, 11/15/2024 275,000 290,813
CVS Pass-Through Trust
       8.353%, 07/10/2031 (S) 1,175,557 1,611,720
Fomento Economico Mexicano SAB
       de CV
       4.375%, 05/10/2043 1,000,000 980,848
HJ Heinz Company
       4.875%, 02/15/2025 (S) 325,000 352,219
HRG Group, Inc.
       7.875%, 07/15/2019 410,000 431,525
Kraft Foods Group, Inc.
       6.125%, 08/23/2018 817,000 927,497
Prestige Brands, Inc.
       5.375%, 12/15/2021 (S) 345,000 349,744
Revlon Consumer Products Corp.
       5.750%, 02/15/2021 380,000 392,350
Reynolds American, Inc.
       4.850%, 09/15/2023 1,000,000 1,104,899
SABMiller PLC
       6.500%, 07/15/2018 (S) 715,000 818,458
Safeway, Inc.
       6.350%, 08/15/2017 164,000 175,070
The Kroger Company
       7.000%, 05/01/2018 1,105,000 1,260,194
Tops Holding Corp.
       8.875%, 12/15/2017 202,000 212,605
Vector Group, Ltd.
       7.750%, 02/15/2021 340,000 361,675
11,876,256
Energy - 5.6%
Anadarko Petroleum Corp.
       6.450%, 09/15/2036 1,000,000 1,240,616
Boardwalk Pipelines LP
       3.375%, 02/01/2023 850,000 785,963
BP Capital Markets PLC
       2.750%, 05/10/2023 530,000 517,017
California Resources Corp.
       5.500%, 09/15/2021 (S) 380,000 338,675
       6.000%, 11/15/2024 (S) 825,000 722,906
Cameron International Corp.
       5.950%, 06/01/2041 1,178,000 1,305,699
Chesapeake Energy Corp.
       5.750%, 03/15/2023 740,000 721,500
Cimarex Energy Company
       4.375%, 06/01/2024 1,275,000 1,265,438
CNOOC Finance 2003, Ltd.
       5.500%, 05/21/2033 (S) 545,000 627,574
CNOOC Finance 2013, Ltd.
       3.000%, 05/09/2023 655,000 639,802
Concho Resources, Inc.
       5.500%, 04/01/2023 500,000 503,750
Continental Resources, Inc.
       5.000%, 09/15/2022 1,175,000 1,158,844
CSI Compressco LP
       7.250%, 08/15/2022 (S) 360,000 313,200
DCP Midstream LLC
       9.750%, 03/15/2019 (S) 565,000 628,704
DCP Midstream LLC (5.850% to
       05/21/2023, then 3 month
       LIBOR + 3.850%)
       05/21/2043 (S) 1,760,000 1,267,200
DCP Midstream Operating LP
       3.875%, 03/15/2023 275,000 247,549
Denbury Resources, Inc.
       5.500%, 05/01/2022 370,000 333,000
Devon Energy Corp.
       4.000%, 07/15/2021 1,000,000 1,066,646
Devon Financing Corp. ULC
       7.875%, 09/30/2031 874,000 1,191,386
Ecopetrol SA
       5.875%, 09/18/2023 290,000 311,315
El Paso Pipeline Partners Operating
       Company LLC
       5.000%, 10/01/2021 500,000 536,342
Enbridge Energy Partners LP
       7.500%, 04/15/2038 600,000 750,332
Energen Corp.
       4.625%, 09/01/2021 500,000 470,397
Energy Transfer Partners LP
       4.150%, 10/01/2020 1,000,000 1,049,815
       9.700%, 03/15/2019 535,000 672,486

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Active Bond Trust (continued)

Shares or
Principal      
Amount Value
CORPORATE BONDS (continued)
Energy (continued)
Enterprise Products Operating LLC
       6.650%, 04/15/2018 $ 750,000 $ 855,927
       6.875%, 03/01/2033 471,000 618,351
Enterprise Products Operating LLC
       (7.000% to 06/01/2017, then 3 month
       LIBOR + 2.778%)
       06/01/2067 840,000 850,500
Enterprise Products Operating LLC
       (8.375% to 08/01/2016, then 3 month
       LIBOR + 3.708%)
       08/01/2066 610,000 642,788
EP Energy LLC
       7.750%, 09/01/2022 265,000 270,300
EV Energy Partners LP
       8.000%, 04/15/2019 505,000 459,550
Freeport-McMoran Oil & Gas LLC
       6.750%, 02/01/2022   629,000 666,740
       6.875%, 02/15/2023 228,000 241,965
FTS International, Inc.
       6.250%, 05/01/2022 (S) 270,000 198,450
Halcon Resources Corp.
       8.875%, 05/15/2021 (L) 450,000 313,875
Hess Corp.  
       5.600%, 02/15/2041 800,000 873,768
Jones Energy Holdings LLC
       6.750%, 04/01/2022 210,000   196,350
Kerr-McGee Corp.
       6.950%, 07/01/2024 510,000 638,218
Kinder Morgan Energy Partners LP
       4.150%, 03/01/2022 500,000 514,835
       5.800%, 03/15/2035 402,000 442,409
       7.300%, 08/15/2033 603,000 728,376
       7.750%, 03/15/2032 210,000 260,632
Kinder Morgan, Inc.
       4.300%, 06/01/2025 1,205,000 1,236,865
Kosmos Energy, Ltd.
       7.875%, 08/01/2021 (S) 310,000 285,975
Lukoil International Finance BV
       3.416%, 04/24/2018 (S) 950,000 874,713
Marathon Oil Corp.
       6.800%, 03/15/2032 785,000 964,302
MarkWest Energy Partners LP
       4.875%, 12/01/2024 235,000 240,264
       6.500%, 08/15/2021 (L) 369,000 386,528
MPLX LP
       4.000%, 02/15/2025 225,000 226,800
Newfield Exploration Company
       5.625%, 07/01/2024 500,000 520,000
       5.750%, 01/30/2022 645,000 672,413
Nexen Energy ULC
       5.875%, 03/10/2035 598,000 709,137
       6.400%, 05/15/2037 775,000 981,410
Noble Holding International, Ltd.
       5.250%, 03/15/2042 500,000 383,848
Nostrum Oil & Gas Finance BV
       6.375%, 02/14/2019 (S) 450,000 386,955
ONEOK Partners LP
       6.650%, 10/01/2036 835,000 886,711
Pacific Rubiales Energy Corp.
       5.125%, 03/28/2023 (S) 400,000 233,000
       5.375%, 01/26/2019 (S) 485,000 320,100
Petro-Canada
       6.050%, 05/15/2018 745,000 837,174
Petroleos Mexicanos
       4.250%, 01/15/2025 (S) 190,000 192,575
       4.875%, 01/24/2022 330,000 350,213
Plains All American Pipeline LP
       4.900%, 02/15/2045 750,000 788,681
Regency Energy Partners LP
       5.000%, 10/01/2022 145,000 150,800
       5.500%, 04/15/2023 600,000 619,500
       5.875%, 03/01/2022 145,000 157,325
RKI Exploration & Production LLC
       8.500%, 08/01/2021 (S) 310,000 294,500
Rowan Companies, Inc.
       4.875%, 06/01/2022 375,000 360,427
Spectra Energy Capital LLC
       6.750%, 02/15/2032 589,000 706,994
Summit Midstream Holdings LLC
       7.500%, 07/01/2021 230,000 239,200
Sunoco Logistics Partners Operations LP
       3.450%, 01/15/2023 1,080,000 1,062,633
Talisman Energy, Inc.
       6.250%, 02/01/2038 525,000 567,709
Teine Energy, Ltd.
       6.875%, 09/30/2022 (S) 315,000 286,650
TerraForm Power Operating LLC
       5.875%, 02/01/2023 (S) 165,000 171,188
Tullow Oil PLC
       6.000%, 11/01/2020 (S) 380,000 330,600
       6.250%, 04/15/2022 (S) 375,000 324,375
Williams Partners LP
       4.300%, 03/04/2024 700,000 698,478
       4.875%, 05/15/2023 to 03/15/2024 1,255,000 1,261,900
WPX Energy, Inc.
       5.250%, 09/15/2024 185,000 162,708
       6.000%, 01/15/2022 350,000 325,500
46,637,341
Financials - 16.8%
Allied World Assurance Company
       Holdings, Ltd.
       7.500%, 08/01/2016 505,000 545,030
American Express Bank FSB
       6.000%, 09/13/2017 585,000 648,306
American International Group, Inc.
       4.125%, 02/15/2024 375,000 405,947
       6.250%, 03/15/2087 100,000 113,966
       6.400%, 12/15/2020 292,000 353,704
American International Group, Inc.
       (8.175% to 05/15/2038, then 3 month
       LIBOR + 4.195%)
       05/15/2068 69,000 97,845
American Tower Corp.
       3.400%, 02/15/2019 390,000 402,747
       4.700%, 03/15/2022 490,000 525,505
       5.000%, 02/15/2024 670,000 732,641
       5.900%, 11/01/2021 800,000 922,091
Aquarius + Investments PLC (6.375% to
       09/01/2019, then 5 Year U.S. Swap
       Rate + 5.210%)
       09/01/2024 335,000 358,615
ARC Properties Operating Partnership LP
       2.000%, 02/06/2017 600,000 581,250
       4.600%, 02/06/2024 787,000 765,358
Ares Capital Corp.
       3.875%, 01/15/2020 645,000 656,290

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Active Bond Trust (continued)

Shares or      
Principal
Amount Value
CORPORATE BONDS (continued)
Financials (continued)
Assurant, Inc.
       4.000%, 03/15/2023 $ 1,260,000 $ 1,314,063
Assured Guaranty US Holdings, Inc.
       5.000%, 07/01/2024 (L) 660,000 706,338
AvalonBay Communities, Inc.
       5.700%, 03/15/2017 750,000 812,453
AXA SA
       8.600%, 12/15/2030 360,000 503,820
AXA SA (6.379% to 12/14/2036, then
       3 month LIBOR + 2.256%)
       12/31/2049 (S) 365,000 408,117
AXA SA (6.463% to 12/14/2018, then
       3 month LIBOR + 1.449%)
       12/29/2049 (S) 1,440,000 1,528,200
Banco do Brasil SA (6.250% to
       04/15/2024, then 10 Year  
       U.S. Treasury + 4.398%)
       10/29/2049 (S) 665,000   444,686
Banco Santander Brasil SA
       8.000%, 03/18/2016 (S) BRL 750,000 220,896
Bank of America Corp.
       3.625%, 03/17/2016 $ 550,000 563,493
       4.200%, 08/26/2024 370,000 382,789
       4.250%, 10/22/2026 400,000 412,937
       5.000%, 05/13/2021   1,800,000 2,031,804
       5.650%, 05/01/2018 1,000,000 1,109,099
       6.875%, 04/25/2018 810,000 926,386
       7.625%, 06/01/2019 1,065,000 1,285,440
Bank of America Corp. (6.250% to
       09/05/2024, then 3 month
       LIBOR + 3.705%)
       09/29/2049 650,000 662,188
Bank of America Corp. (8.000% to
       01/30/2018, then 3 month
       LIBOR + 3.630%)
       12/31/2049 595,000 638,881
Barclays Bank PLC
       10.179%, 06/12/2021 (S) 720,000 984,938
Boston Properties LP
       3.700%, 11/15/2018 1,043,000 1,110,849
BPCE SA
       4.500%, 03/15/2025 (S) 660,000 671,683
       5.700%, 10/22/2023 (S) 800,000 884,755
Capital One Financial Corp.
       2.450%, 04/24/2019 700,000 708,324
       3.500%, 06/15/2023 1,023,000 1,050,190
       4.750%, 07/15/2021 700,000 784,863
Citigroup, Inc.
       3.500%, 05/15/2023 1,060,000 1,057,065
       4.450%, 01/10/2017 1,350,000 1,422,639
       4.500%, 01/14/2022 1,000,000 1,104,022
       5.375%, 08/09/2020 195,000 222,793
CNA Financial Corp.
       6.500%, 08/15/2016 1,310,000 1,403,220
       7.250%, 11/15/2023 645,000 802,586
Columbia Property Trust Operating
       Partnership Lp
       4.150%, 04/01/2025 600,000 616,743
Commerzbank AG
       8.125%, 09/19/2023 (S) 865,000 1,029,350
Corrections Corp. of America
       4.625%, 05/01/2023 440,000 440,000
Credit Acceptance Corp.
       6.125%, 02/15/2021 635,000 608,013
Credit Agricole SA
       4.375%, 03/17/2025 (S) 600,000 606,691
Credit Agricole SA (6.625% to
       09/23/2019, then 5 Year U.S. Swap
       Rate + 4.697%)
       12/31/2049 (S) 665,000 666,663
Credit Agricole SA (7.875% to
       01/23/2024, then 5 Year U.S. Swap
       Rate + 4.898%)
       01/29/2049 (S) 835,000 884,303
Credit Agricole SA (8.125% to
       09/19/2018, then 5 Year U.S. Swap
       Rate + 6.283%)
       09/19/2033 (S) 350,000 397,688
Credit Suisse Group AG (7.500% to
       12/11/2023, then 5 Year U.S. Swap
       Rate + 4.598%)
       12/31/2049 (S) 435,000 467,081
Credito Real SAB de CV
       7.500%, 03/13/2019 (L)(S) 600,000 614,700
Crown Castle Towers LLC
       4.883%, 08/15/2040 (S) 750,000 823,503
       6.113%, 01/15/2040 (S) 620,000 707,267
DDR Corp.
       3.500%, 01/15/2021 650,000 673,112
       7.500%, 04/01/2017 1,130,000 1,256,073
Discover Financial Services
       3.950%, 11/06/2024 510,000 524,488
       5.200%, 04/27/2022 610,000 679,217
Doric Nimrod Air Alpha 2013-1 Class A
       Pass Through Trust
       5.250%, 05/30/2025 (S) 556,948 593,149
Doric Nimrod Air Alpha 2013-1 Class B
       Pass Through Trust
       6.125%, 11/30/2021 (S) 256,388 270,490
Doric Nimrod Air Finance Alpha, Ltd.
       2012-1 Class A Pass Through Trust
       5.125%, 11/30/2024 (S) 428,302 454,332
Dresdner Bank AG
       7.250%, 09/15/2015 627,000 642,245
Education Realty Operating
       Partnership LP
       4.600%, 12/01/2024 405,000 421,329
Enova International, Inc.
       9.750%, 06/01/2021 (S) 545,000 517,750
EPR Properties
       7.750%, 07/15/2020 921,000 1,113,199
Equity Commonwealth
       5.875%, 09/15/2020 700,000 777,673
ERP Operating LP
       5.750%, 06/15/2017 1,000,000 1,095,353
Essex Portfolio LP
       5.500%, 03/15/2017 906,000 975,613
Fifth Third Bancorp (5.100% to
       06/30/2023, then 3 month
       LIBOR + 3.033%)
       12/31/2049 600,000 570,000
FS Investment Corp.
       4.000%, 07/15/2019 660,000 670,588
General Electric Capital Corp.
       0.737%, 08/15/2036 (P) 695,000 603,466

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Active Bond Trust (continued)

Shares or      
Principal
Amount Value
CORPORATE BONDS (continued)
Financials (continued)
General Electric Capital Corp. (continued)
       5.550%, 05/04/2020 $ 645,000 $ 750,136
General Electric Capital Corp. (7.125%
       until 06/15/2022, then 3 month
       LIBOR + 5.296%)
       12/31/2049 800,000 939,000
Genworth Holdings, Inc.
       4.800%, 02/15/2024 500,000 420,625
Goodman Funding Pty, Ltd.
       6.375%, 04/15/2021 (S) 590,000 692,089
Hartford Financial Services Group, Inc.
       5.500%, 03/30/2020 1,000,000 1,148,102
       6.625%, 03/30/2040 500,000 670,608
HBOS PLC
       6.000%, 11/01/2033 (S) 650,000 768,151
       6.750%, 05/21/2018 (S) 1,145,000 1,280,870
HCP, Inc.
       3.875%, 08/15/2024   800,000 812,962
Healthcare Realty Trust, Inc.
       5.750%, 01/15/2021 1,000,000 1,129,775
Highwoods Realty LP
       5.850%, 03/15/2017 465,000 501,691
HSBC Holdings PLC (6.375% to  
       09/17/2024, then 5 Year
       U.S. ISDAFIX + 3.705%)  
       12/31/2049 300,000 306,375
ICICI Bank, Ltd.
       4.700%, 02/21/2018 (S) 250,000 265,181
       5.750%, 11/16/2020 (S) 445,000 505,247
ING Bank NV
       5.800%, 09/25/2023 (S) 725,000 820,786
Invesco Finance PLC
       3.125%, 11/30/2022 850,000 858,715
Iron Mountain, Inc.
       5.750%, 08/15/2024 555,000 561,938
       6.000%, 08/15/2023 590,000 622,450
iStar Financial, Inc.
       5.000%, 07/01/2019 210,000 210,000
Jefferies Group LLC
       5.125%, 04/13/2018 600,000 630,784
       6.875%, 04/15/2021 725,000 819,620
       8.500%, 07/15/2019 900,000 1,076,409
JPMorgan Chase & Co.
       3.375%, 05/01/2023 1,250,000 1,258,408
       4.125%, 12/15/2026 600,000 622,019
       4.500%, 01/24/2022 1,300,000 1,436,842
       4.625%, 05/10/2021 1,195,000 1,331,431
       6.300%, 04/23/2019 1,000,000 1,161,636
JPMorgan Chase & Co. (5.000% to
       07/01/2019, then 3 month
       LIBOR + 3.320%)
       12/29/2049 790,000 776,136
JPMorgan Chase & Co. (5.150% to
       05/01/2023, then 3 month
       LIBOR + 3.250%)
       12/29/2049 510,000 497,888
JPMorgan Chase & Co. (6.750% to
       02/01/2024, then 3 month
       LIBOR + 3.780%)
       01/29/2049 1,145,000 1,242,325
JPMorgan Chase & Co. (7.900% to
       04/30/2018, then 3 month
       LIBOR + 3.470%)
       04/29/2049 730,000 785,663
Kimco Realty Corp.
       6.875%, 10/01/2019 755,000 898,507
Legg Mason, Inc.
       3.950%, 07/15/2024 660,000 688,684
Leucadia National Corp.
       5.500%, 10/18/2023 1,885,000 1,944,602
Liberty Mutual Group, Inc.
       4.250%, 06/15/2023 (S) 1,000,000 1,065,133
Liberty Mutual Group, Inc. (7.800% to
       03/15/2037, then 3 month LIBOR
       + 3.576%)
       7.800%, 03/07/2087 (S) 665,000 812,963
Liberty Property LP
       5.500%, 12/15/2016 800,000 850,226
Lincoln National Corp.
       6.250%, 02/15/2020 1,000,000 1,178,200
Lloyds Banking Group PLC (7.500% to
       06/27/2024, then 5 Year U.S. Swap
       Rate + 4.760%)
       12/31/2049 550,000 584,375
Loews Corp.
       2.625%, 05/15/2023 630,000 615,132
Macquarie Group, Ltd.
       3.000%, 12/03/2018 (S) 650,000 667,748
Manufacturers & Traders Trust Company
       (5.629% to 12/01/2016, then 3 month
       LIBOR + 6.400%)
       12/01/2021 735,000 763,298
Markel Corp.
       5.000%, 03/30/2043 1,270,000 1,398,985
       5.350%, 06/01/2021 800,000 906,028
MetLife, Inc.
       3.000%, 03/01/2025 300,000 300,655
       6.400%, 12/15/2066 390,000 462,150
Mizuho Financial Group Cayman 3, Ltd.
       4.600%, 03/27/2024 (S) 620,000 665,747
Montpelier Re Holdings, Ltd.
       4.700%, 10/15/2022 1,080,000 1,138,804
Morgan Stanley
       3.750%, 02/25/2023 1,250,000 1,310,066
       4.100%, 05/22/2023 1,895,000 1,972,147
       4.300%, 01/27/2045 360,000 373,087
       5.500%, 01/26/2020 435,000 495,384
       5.550%, 04/27/2017 380,000 411,059
       5.950%, 12/28/2017 565,000 626,286
       6.625%, 04/01/2018 470,000 534,476
       7.300%, 05/13/2019 1,310,000 1,567,174
Morgan Stanley (5.450% to 07/15/2019,
       then 3 month LIBOR + 3.610%)
       12/31/2049 710,000 715,325
MPT Operating Partnership LP
       6.375%, 02/15/2022 385,000 416,840
       6.875%, 05/01/2021 295,000 317,494
MSCI, Inc.
       5.250%, 11/15/2024 (S) 50,000 51,688
NANA Development Corp.
       9.500%, 03/15/2019 (S) 330,000 305,250
National Retail Properties, Inc.
       3.300%, 04/15/2023 1,260,000 1,258,298

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Active Bond Trust (continued)

Shares or      
Principal
Amount Value
CORPORATE BONDS (continued)
Financials (continued)
Nationstar Mortgage LLC
       7.875%, 10/01/2020 $ 520,000 $ 533,000
       9.625%, 05/01/2019 (L) 400,000 427,000
Nationwide Mutual Insurance Company
       (5.810% to 12/15/2014, then 3 month
       LIBOR + 2.290%)
       12/15/2024 (S) 1,130,000 1,129,905
Nippon Life Insurance Company (5.000%
       to 10/18/2022, then 3 month
       LIBOR + 4.240%)
       10/18/2042 (S) 445,000 478,375
Nippon Life Insurance Company (5.100%
       to 10/16/2024, then 5 Year
       U.S. ISDAFIX + 3.650%)
       10/16/2044 (S) 560,000 606,900
Oil Casualty Insurance, Ltd.
       8.000%, 09/15/2034 (S) 1,127,000 1,421,504
Omega Healthcare Investors, Inc.
       4.500%, 01/15/2025 (S) 415,000 417,739
       4.950%, 04/01/2024 995,000 1,048,332
Pacific LifeCorp.
       6.000%, 02/10/2020 (S) 345,000   394,601
Piedmont Operating Partnership LP
       4.450%, 03/15/2024 500,000   520,708
Prudential Financial, Inc. (5.875% to  
       09/01/2022, then 3 month
       LIBOR + 4.175%)
       09/15/2042 206,000 223,768
Rabobank Nederland NV
       3.875%, 02/08/2022 1,245,000 1,339,853
Rabobank Nederland NV (11.000% to
       06/30/2019, then 3 month
       LIBOR + 10.868%)
       12/29/2049 (S) 702,000 903,825
Realty Income Corp.
       5.375%, 09/15/2017 1,250,000 1,360,498
Sirius International Group, Ltd. (7.506%
       to 06/30/2017, then 3 month
       LIBOR + 3.200%)
       12/31/2049 (S) 2,130,000 2,244,488
SL Green Realty Corp.
       7.750%, 03/15/2020 775,000 940,749
Societe Generale SA (8.250% to
       11/29/2018, then 5 Year U.S. Swap
       Rate + 6.394%)
       12/31/2049 575,000 610,938
Stifel Financial Corp.
       4.250%, 07/18/2024 1,270,000 1,296,410
Synovus Financial Corp.
       7.875%, 02/15/2019 260,000 291,200
Teachers Insurance & Annuity Association
       of America
       6.850%, 12/16/2039 (S) 825,000 1,149,770
The Bear Stearns Companies LLC
       7.250%, 02/01/2018 405,000 466,196
The Charles Schwab Corp. (7.000% to
       02/01/2022, then 3 month
       LIBOR + 4.820%)
       12/31/2049 1,000,000 1,180,000
The Goldman Sachs Group, Inc.
       3.625%, 01/22/2023 1,200,000 1,241,248
       5.250%, 07/27/2021 1,635,000 1,859,347
       5.750%, 01/24/2022 160,000 186,777
       5.950%, 01/18/2018 725,000 806,737
       6.150%, 04/01/2018 1,000,000 1,124,074
The PNC Financial Services Group, Inc.
       4.482%, 05/29/2049 (P) 400,000 400,800
The PNC Financial Services Group, Inc.
       (4.850% to 06/01/2023, then 3 month
       LIBOR + 3.040%)
       05/29/2049 (L) 475,000 463,125
The PNC Financial Services Group, Inc.
       (6.750% to 08/01/2021, then 3 month
       LIBOR + 3.678%)
       12/31/2049 720,000 801,000
Transatlantic Holdings, Inc.
       5.750%, 12/14/2015 255,000 262,792
USB Realty Corp.
       1.400%, 12/29/2049 (P)(S) 310,000 282,100
USI, Inc.
       7.750%, 01/15/2021 (S) 455,000 466,375
Ventas Realty LP
       3.750%, 05/01/2024 250,000 256,829
       4.750%, 06/01/2021 685,000 756,223
Vornado Realty LP
       5.000%, 01/15/2022 1,250,000 1,388,369
Voya Financial, Inc. (5.650% to
       05/15/2023, then 3 month
       LIBOR + 3.580%)
       05/15/2053 1,020,000 1,065,900
Weingarten Realty Investors
       3.375%, 10/15/2022 1,050,000 1,048,096
Wells Fargo & Company
       3.450%, 02/13/2023 900,000 920,885
Wells Fargo & Company (5.875% to
       06/15/2025, then 3 month
       LIBOR + 3.990%)
       12/29/2049 485,000 512,985
Wells Fargo & Company (5.900% to
       06/15/2024, then 3 month
       LIBOR + 3.110%)
       12/29/2049 940,000 978,775
Wells Fargo & Company, Series K
       (7.980% to 03/15/2018, then 3 month
       LIBOR + 3.770%)
       03/29/2049 1,062,000 1,162,890
Wells Fargo Bank NA
       5.850%, 02/01/2037 400,000 516,117
Willis Group Holdings PLC
       5.750%, 03/15/2021 1,350,000 1,520,508
XLIT, Ltd.
       4.450%, 03/31/2025 180,000 181,165
140,357,440
Health care - 1.6%
Actavis Funding SCS
       3.800%, 03/15/2025 450,000 464,038
Agilent Technologies, Inc.
       3.875%, 07/15/2023 670,000 687,005
Alere, Inc.
       7.250%, 07/01/2018 390,000 413,888
Anthem, Inc.
       6.375%, 06/15/2037 1,000,000 1,300,270
Cigna Corp.
       4.500%, 03/15/2021 1,100,000 1,234,991

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Active Bond Trust (continued)

Shares or
Principal
        Amount       Value
CORPORATE BONDS (continued)    
Health care (continued)    
Covenant Surgical Partners, Inc.    
       8.750%, 08/01/2019 (S) $ 239,000 $ 240,195
Crimson Merger Sub, Inc.    
       6.625%, 05/15/2022 (S) 470,000   417,125
Endo Finance LLC    
       6.000%, 02/01/2025 (S) 220,000   225,500
       7.250%, 01/15/2022 (S) 440,000   466,950
Grifols Worldwide Operations, Ltd.    
       5.250%, 04/01/2022 (S) 475,000   482,719
HCA, Inc.    
       5.250%, 04/15/2025 520,000   561,600
       7.500%, 02/15/2022 380,000   443,175
Mallinckrodt International Finance SA    
       5.750%, 08/01/2022 (S) 465,000   480,113
Medco Health Solutions, Inc.    
       7.125%, 03/15/2018 325,000   374,575
Medtronic, Inc.    
       4.625%, 03/15/2045 (S) 610,000   691,501
Mylan, Inc.    
       2.600%, 06/24/2018 670,000   684,049
       7.875%, 07/15/2020 (S) 695,000   734,275
Select Medical Corp.    
       6.375%, 06/01/2021 440,000   435,325
Teva Pharmaceutical Finance    
       Company LLC    
       6.150%, 02/01/2036 49,000   62,589
UnitedHealth Group, Inc.    
       5.800%, 03/15/2036 540,000   696,128
Valeant Pharmaceuticals International, Inc.    
       5.500%, 03/01/2023 (S) 170,000   171,913
       5.625%, 12/01/2021 (S) 275,000   279,125
       7.500%, 07/15/2021 (S) 325,000   351,507
VRX Escrow Corp.    
       6.125%, 04/15/2025 (S) 265,000   274,606
WellCare Health Plans, Inc.    
       5.750%, 11/15/2020 270,000   283,500
Zimmer Holdings, Inc.    
       3.550%, 04/01/2025 650,000   662,939
    13,119,601
Industrials - 4.1%    
Ahern Rentals, Inc.    
       9.500%, 06/15/2018 (L)(S) 240,000   254,100
Air Lease Corp.    
       3.375%, 01/15/2019 585,000   596,700
       3.875%, 04/01/2021 340,000   350,200
       4.750%, 03/01/2020 805,000   864,369
       5.625%, 04/01/2017 235,000   251,156
Aircastle, Ltd.    
       5.500%, 02/15/2022 325,000   345,719
       6.250%, 12/01/2019 265,000   291,500
       7.625%, 04/15/2020 205,000   235,750
American Airlines 2011-1 Class B Pass    
       Through Trust    
       7.000%, 07/31/2019 (S) 934,720   1,014,172
American Airlines 2013-2 Class A Pass    
       Through Trust    
       4.950%, 07/15/2024 485,395   531,507
American Airlines 2013-2 Class B Pass    
       Through Trust    
       5.600%, 01/15/2022 (S) 261,117   272,868
American Airlines 2015-1 Class B Pass    
       Through Trust    
       3.700%, 11/01/2024 875,000   878,281
Ashtead Capital, Inc.    
       5.625%, 10/01/2024 (S) 315,000   327,994
British Airways PLC 2013-1 Class A Pass    
       Through Trust    
       4.625%, 06/20/2024 (S) 967,660   1,042,654
British Airways PLC 2013-1 Class B Pass    
       Through Trust    
       5.625%, 12/20/2021 (S) 271,366   289,004
Casella Waste Systems, Inc.    
       7.750%, 02/15/2019 495,000   495,000
Continental Airlines 1998-1 Class A Pass    
       Through Trust    
       6.648%, 03/15/2019 111,754   116,504
Continental Airlines 1999-1 Class A Pass    
       Through Trust    
       6.545%, 08/02/2020 229,460   251,671
Continental Airlines 2000-2 Class B Pass    
       Through Trust    
       8.307%, 10/02/2019 67,359   73,926
Continental Airlines 2007-1 Class A Pass    
       Through Trust    
       5.983%, 10/19/2023 482,974   543,950
Continental Airlines 2012-1 Class B Pass    
       Through Trust    
       6.250%, 10/11/2021 262,871   280,615
Delta Air Lines 2002-1 Class G-1 Pass    
       Through Trust    
       6.718%, 07/02/2024 751,887   870,309
Delta Air Lines 2007-1 Class A Pass    
       Through Trust    
       6.821%, 02/10/2024 895,583   1,051,236
Delta Air Lines 2010-1 Class A Pass    
       Through Trust    
       6.200%, 01/02/2020 241,214   265,335
Embraer Overseas, Ltd.    
       5.696%, 09/16/2023 (S) 352,000   376,165
Empresa de Transporte de Pasajeros    
       Metro SA    
       4.750%, 02/04/2024 (S) 340,000   364,827
Florida East Coast Holdings Corp.    
       6.750%, 05/01/2019 (S) 400,000   403,000
General Electric Company    
       2.700%, 10/09/2022 1,100,000   1,118,813
Global Ship Lease, Inc.    
       10.000%, 04/01/2019 (S) 200,000   209,000
Huntington Ingalls Industries, Inc.    
       5.000%, 12/15/2021 (S) 515,000   536,888
       7.125%, 03/15/2021 385,000   413,875
International Lease Finance Corp.    
       7.125%, 09/01/2018 (S) 305,000   342,363
JB Hunt Transport Services, Inc.    
       3.850%, 03/15/2024 700,000   740,880
Lockheed Martin Corp.    
       2.900%, 03/01/2025 860,000   869,464
Masco Corp.    
       4.450%, 04/01/2025 190,000   196,175
       7.125%, 03/15/2020 360,000   422,100
Navios South American Logistics, Inc.    
       7.250%, 05/01/2022 (S) 540,000   523,800
Northwest Airlines 2007-1 Class A Pass    
       Through Trust    
       7.027%, 05/01/2021 288,797   334,803

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Active Bond Trust (continued)

Shares or
  Principal
      Amount       Value
CORPORATE BONDS (continued)    
Industrials (continued)    
Odebrecht Finance, Ltd.    
       7.125%, 06/26/2042 (S) $ 475,000 $ 394,844
       7.500%, 09/29/2049 (S) 265,000   219,950
       8.250%, 04/25/2018 (S) BRL 600,000   139,117
Odebrecht Offshore Drilling Finance, Ltd.    
       6.625%, 10/01/2023 (S) $ 189,800   145,197
Owens Corning      
       4.200%, 12/15/2022 585,000   610,481
Penske Truck Leasing Company LP    
       3.375%, 02/01/2022 (S) 940,000   939,710
Ryder System, Inc.    
       2.450%, 11/15/2018 900,000   915,360
Safway Group Holding LLC    
       7.000%, 05/15/2018 (S) 250,000   247,500
SPL Logistics Escrow LLC    
       8.875%, 08/01/2020 (S) 251,000   264,178
Stanley Black & Decker, Inc.      
       5.750%, 12/15/2053 (P) 650,000   699,985
Tenedora Nemak SA de CV    
       5.500%, 02/28/2023 (S) 400,000   412,000
Textron Financial Corp. (6.000% to    
       02/15/2017, then 3 month    
       LIBOR + 1.735%)    
       02/15/2067 (S) 2,955,000   2,644,725
Textron, Inc.    
       3.875%, 03/01/2025 250,000   258,262
       7.250%, 10/01/2019 345,000   409,882
The Dun & Bradstreet Corp.    
       4.375%, 12/01/2022 700,000   735,246
Trinity Industries, Inc.    
       4.550%, 10/01/2024 530,000   532,831
Tutor Perini Corp.    
       7.625%, 11/01/2018 650,000   674,375
Tyco Electronics Group SA    
       4.875%, 01/15/2021 500,000   561,897
       6.550%, 10/01/2017 945,000   1,059,271
UAL 2009-1 Pass Through Trust    
       10.400%, 05/01/2018 65,401   71,372
UAL 2009-2A Pass Through Trust    
       9.750%, 07/15/2018 230,316   255,650
Union Pacific Corp.    
       4.163%, 07/15/2022 1,137,000   1,272,175
United Airlines 2014-2 Class A Pass    
       Through Trust    
       3.750%, 03/03/2028 660,000   688,050
United Airlines 2014-2 Class B Pass    
       Through Trust    
       4.625%, 03/03/2024 375,000   377,344
United Rentals North America, Inc.    
       5.500%, 07/15/2025 390,000   397,800
       5.750%, 11/15/2024 445,000   459,463
US Airways 2010-1 Class A Pass    
       Through Trust    
       6.250%, 10/22/2024 615,365   698,440
    34,431,778
Information technology - 0.6%    
Ancestry.com Holdings LLC, PIK    
       9.625%, 10/15/2018 (S) 280,000   282,100
Ancestry.com, Inc.    
       11.000%, 12/15/2020 430,000   477,300
Blackboard, Inc.    
       7.750%, 11/15/2019 (S) 185,000   177,600
Micron Technology, Inc.    
       5.875%, 02/15/2022 550,000   580,531
Sixsigma Networks Mexico SA de CV    
       8.250%, 11/07/2021 (S) 415,000   433,800
Tyco Electronics Group SA    
       2.375%, 12/17/2018 980,000   998,274
VeriSign, Inc.    
       5.250%, 04/01/2025 (S) 400,000   409,000
XLIT, Ltd.    
       5.750%, 10/01/2021 1,000,000   1,176,339
Zebra Technologies Corp.    
       7.250%, 10/15/2022 (S) 335,000   360,963
    4,895,907
Materials - 2.1%    
Alcoa, Inc.    
       5.125%, 10/01/2024 715,000   765,273
       5.720%, 02/23/2019 560,000   613,786
Allegheny Technologies, Inc.    
       9.375%, 06/01/2019 905,000   1,083,738
American Gilsonite Company    
       11.500%, 09/01/2017 (S) 590,000   544,275
ArcelorMittal    
       10.600%, 06/01/2019 365,000   446,441
Ardagh Finance Holdings SA, PIK    
       8.625%, 06/15/2019 (S) 365,345   380,646
Braskem Finance, Ltd.    
       7.000%, 05/07/2020 (S) 685,000   691,850
Cemex SAB de CV    
       6.125%, 05/05/2025 (S) 500,000   504,850
       6.500%, 12/10/2019 (S) 500,000   531,250
Commercial Metals Company    
       7.350%, 08/15/2018 320,000   344,800
Eastman Chemical Company    
       4.500%, 01/15/2021 1,000,000   1,094,765
Glencore Finance Canada, Ltd.    
       4.250%, 10/25/2022 (S) 300,000   308,405
Glencore Funding LLC    
       4.125%, 05/30/2023 (S) 590,000   600,852
Incitec Pivot Finance LLC    
       6.000%, 12/10/2019 (S) 330,000   370,948
Magnesita Finance, Ltd.    
       8.625%, 04/29/2049 (S) 540,000   421,200
Methanex Corp.    
       5.650%, 12/01/2044 450,000   472,682
MMC Norilsk Nickel OJSC    
       5.550%, 10/28/2020 (S) 335,000   320,806
NOVA Chemicals Corp.    
       5.000%, 05/01/2025 (S) 815,000   851,675
Platform Specialty Products Corp.    
       6.500%, 02/01/2022 765,000   799,425
Rain CII Carbon LLC    
       8.000%, 12/01/2018 (S) 415,000   394,250
       8.250%, 01/15/2021 (S) 275,000   256,438
Rockwood Specialties Group, Inc.    
       4.625%, 10/15/2020 830,000   864,238
Tekni-Plex, Inc.    
       9.750%, 06/01/2019 (S) 312,000   335,400
The Dow Chemical Company    
       3.000%, 11/15/2022 270,000   272,328
       4.125%, 11/15/2021 1,000,000   1,086,685
The Mosaic Company    
       4.250%, 11/15/2023 1,300,000   1,386,408

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Active Bond Trust (continued)

  Shares or
Principal
      Amount       Value
CORPORATE BONDS (continued)
Materials (continued)
Valspar Corp.
      4.200%, 01/15/2022 $ 1,000,000 $ 1,062,749
Vedanta Resources PLC
      7.125%, 05/31/2023 (S) 400,000 331,000
Vulcan Materials Company
      4.500%, 04/01/2025 375,000 380,625
Wise Metals Group LLC
      8.750%, 12/15/2018 (S) 360,000 382,500
  17,900,288
Telecommunication services - 2.5%  
AT&T, Inc.
      4.350%, 06/15/2045 285,000 273,525
      5.350%, 09/01/2040 580,000 633,028
CenturyLink, Inc.  
      5.625%, 04/01/2020 190,000 199,500
      5.800%, 03/15/2022 630,000 655,988
      7.600%, 09/15/2039 1,405,000 1,439,247
Columbus International, Inc.  
      7.375%, 03/30/2021 (S) 200,000 210,250
Comcel Trust
      6.875%, 02/06/2024 (S) 900,000 958,950
Deutsche Telekom International
      Finance BV
      8.750%, 06/15/2030 758,000 1,153,073
Digicel Group, Ltd.
      8.250%, 09/30/2020 (S) 550,000 550,825
Digicel, Ltd.
      6.750%, 03/01/2023 (S) 300,000 290,625
GCI, Inc.
      6.875%, 04/15/2025 (S) 345,000 347,588
GTP Acquisition Partners I LLC
      4.704%, 05/15/2018 (S) 2,000,000 2,046,088
Millicom International Cellular SA
      4.750%, 05/22/2020 (S) 545,000 533,555
      6.625%, 10/15/2021 (S) 450,000 475,313
MTN Mauritius Investments, Ltd.
      4.755%, 11/11/2024 (S) 260,000 261,170
PAETEC Holding Corp.
      9.875%, 12/01/2018 301,000 317,931
SBA Tower Trust
      2.933%, 12/15/2017 (S) 540,000 546,416
      3.598%, 04/15/2043 (S) 505,000 504,858
      5.101%, 04/15/2042 (S) 410,000 428,799
SoftBank Corp.
      4.500%, 04/15/2020 (S) 505,000 515,731
Sprint Capital Corp.
      6.875%, 11/15/2028 750,000 688,125
T-Mobile USA, Inc.
      6.125%, 01/15/2022 225,000 232,031
      6.250%, 04/01/2021 275,000 286,000
Telecom Italia Capital SA
      6.999%, 06/04/2018 405,000 450,816
      7.200%, 07/18/2036 430,000 484,825
Verizon Communications, Inc.
      4.272%, 01/15/2036 (S) 2,311,000 2,293,557
      4.400%, 11/01/2034 400,000 407,500
      4.522%, 09/15/2048 (S) 978,000 970,358
      4.672%, 03/15/2055 (S) 397,000 388,848
      5.012%, 08/21/2054 726,000 753,384
      6.550%, 09/15/2043 433,000 562,241
Wind Acquisition Finance SA
      7.375%, 04/23/2021 (S) 425,000 440,938
Windstream Corp.
      7.500%, 06/01/2022 550,000 530,750
  20,831,833
Utilities - 2.4%
Arizona Public Service Company
      5.500%, 09/01/2035 1,118,000 1,406,711
Beaver Valley II Funding Corp.
      9.000%, 06/01/2017 93,000 100,440
BVPS II Funding Corp.
      8.890%, 06/01/2017 266,000 281,820
CenterPoint Energy Houston Electric LLC
      6.950%, 03/15/2033 535,000 763,392
CMS Energy Corp.
      5.050%, 03/15/2022 510,000 583,294
DTE Gas Company
      5.700%, 03/15/2033 740,000 891,697
Dynegy Finance I, Inc.
      6.750%, 11/01/2019 (S) 180,000 186,300
      7.625%, 11/01/2024 (S) 805,000 843,238
Electricite de France SA (5.250% to
      01/29/2023, then 10 Year U.S. Swap
      Rate +3.709%)
      01/29/2049 (S) 685,000 714,798
Empresa Electrica Angamos SA
      4.875%, 05/25/2029 (S) 525,000 519,225
Entergy Corp.
      4.700%, 01/15/2017 1,000,000 1,051,366
Integrys Energy Group, Inc. (6.110% to
      12/01/2016, then 3 month
      LIBOR + 2.120%)
      12/01/2066 778,000 762,440
Israel Electric Corp., Ltd.
      5.625%, 06/21/2018 (S) 650,000 691,233
      6.875%, 06/21/2023 (S) 330,000 381,947
      7.250%, 01/15/2019 (S) 520,000 583,700
NextEra Energy Capital Holdings, Inc.
      (6.650% to 06/15/2017, then 3 month
      LIBOR + 2.125%)
      06/15/2067 140,000 139,300
NiSource Finance Corp.
      4.800%, 02/15/2044 1,860,000 2,091,285
      6.400%, 03/15/2018 672,000 763,921
NRG Energy, Inc.
      7.625%, 01/15/2018 520,000 572,650
      8.250%, 09/01/2020 425,000 449,969
NRG Yield Operating LLC
      5.375%, 08/15/2024 (S) 645,000 670,800
Oncor Electric Delivery Company LLC
      4.100%, 06/01/2022 750,000 822,504
PPL Capital Funding, Inc.
      3.400%, 06/01/2023 1,160,000 1,202,734
PPL Capital Funding, Inc. (6.700% to
      03/30/2017, then 3 month
      LIBOR + 2.665%)
      03/30/2067 510,000 493,170
PSEG Power LLC
      8.625%, 04/15/2031 736,000 1,083,497
Southern California Edison Company
      (6.250% to 02/01/2022, then 3 month
      LIBOR + 4.199%)
      08/29/2049 385,000 431,200
TransAlta Corp.
      6.650%, 05/15/2018 1,157,000 1,285,791

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Active Bond Trust (continued)

Shares or
Principal
      Amount       Value
CORPORATE BONDS (continued)
Utilities (continued)
W3A Funding Corp.
       8.090%, 01/02/2017 $ 213,364 $ 213,351
Wisconsin Energy Corp. (6.250% to
       05/15/2017, then 3 month
       LIBOR + 2.113%)
       05/15/2067 470,000 470,931
  20,452,704
TOTAL CORPORATE BONDS (Cost $329,294,500) $ 350,101,517
 
CAPITAL PREFERRED SECURITIES - 1.2%  
Financials - 1.2%
BAC Capital Trust XIV, Series G
       4.000%, 09/29/2049 (P) 895,000 710,854
Goldman Sachs Capital II
       4.000%, 12/31/2049 (P) 1,000,000 775,000
HSBC Finance Capital Trust IX (5.911%
       to 11/30/2015, then 3 month
       LIBOR + 1.926%)
       11/30/2035 1,350,000 1,372,275
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) 700,000 658,000
MetLife Capital Trust X (9.250% to
       04/08/2033, then 3 month
       LIBOR + 5.540%)
       04/08/2038 (S) 400,000 595,500
Sovereign Capital Trust VI
       7.908%, 06/13/2036 450,000 473,222
State Street Capital Trust IV
       1.271%, 06/01/2077 (P) 1,060,000 895,700
SunTrust Preferred Capital I
       4.000%, 06/29/2049 (P) 425,000 348,500
USB Capital IX
       3.500%, 10/29/2049 (P) 1,745,000 1,443,988
ZFS Finance USA Trust II (6.450% to
       06/15/2016 then 3 month
       LIBOR + 2.000%)
       12/15/2065 (S) 1,130,000 1,186,500
ZFS Finance USA Trust V (6.500% to
       05/09/2017, then 3 month
       LIBOR + 2.285%)
       05/09/2067 (S) 1,695,000 1,783,988
  10,243,527
TOTAL CAPITAL PREFERRED
SECURITIES (Cost $9,907,212) $ 10,243,527
 
TERM LOANS (M) - 0.3%
Consumer discretionary - 0.0%
Marina District Finance Company, Inc.
       6.500%, 08/15/2018 128,586 129,196
Consumer staples - 0.1%
The Sun Products Corp.
       5.500%, 03/23/2020 583,858 561,598
Energy - 0.0%
Templar Energy LLC 8.500%, 11/25/2020 365,000 246,193
Financials - 0.0%
Walter Investment Management Corp.
       4.750%, 12/19/2020 288,132 264,001
Industrials - 0.1%
Delta Air Lines, Inc. 3.250%, 10/18/2018 235,013 234,635
WP CPP Holdings LLC
       4.750%, 12/28/2019 244,375 244,375
  479,010
Utilities - 0.1%
ExGen Texas Power LLC
       5.750%, 09/16/2021 407,836 409,111
La Frontera Generation LLC
       4.500%, 09/30/2020 255,620 255,832
  664,943
TOTAL TERM LOANS (Cost $2,480,283) $ 2,344,941
 
MUNICIPAL BONDS - 0.3%
New Jersey State Turnpike Authority
       7.414%, 01/01/2040 1,885,000 2,836,360
TOTAL MUNICIPAL BONDS (Cost $2,068,957) $ 2,836,360
 
COLLATERALIZED MORTGAGE
OBLIGATIONS - 20.4%
Commercial and residential - 15.9%
Adjustable Rate Mortgage Trust,
       Series 2005-4, Class 7A12
       0.754%, 08/25/2035 (P) 394,234 379,139
American Home Mortgage Assets Trust,
       Series 2006-6, Class XP IO
       2.117%, 12/25/2046 4,284,134 399,932
American Home
       Mortgage Investment Trust
       Series 2005-1, Class 1A1,
              0.394%, 06/25/2045 (P) 845,187 785,166
       Series 2005-1, Class AHM,
              2.378%, 06/25/2045 (P) 528,990 524,724
       Series 2004-4, Class 5A,
              2.378%, 02/25/2045 (P) 883,458 880,310
Americold 2010 LLC Trust
       Series 2010-ARTA, Class C,
              6.811%, 01/14/2029 (S) 1,350,000 1,573,969
       Series 2010-ARTA, Class D,
              7.443%, 01/14/2029 (S) 2,525,000 2,873,745
AOA Mortgage Trust, Series 2015-1177,
       Class C 3.010%, 12/13/2029 (P)(S) 545,000 545,543
BAMLL Commercial
       Mortgage Securities Trust
       Series 2013-DSNY, Class E,
              2.776%, 09/15/2026 (P)(S) 440,000 438,182
       Series 2014-ICTS, Class D,
              2.072%, 06/15/2028 (P)(S) 140,000 139,472
       Series 2014-ICTS, Class E,
              3.122%, 06/15/2028 (P)(S) 185,000 184,302
Banc of America
       Commercial Mortgage Trust, Inc.
       Series 2006-6, Class AJ,
              5.421%, 10/10/2045 500,000 518,130
       Series 2006-6, Class AM,
              5.390%, 10/10/2045 1,350,000 1,427,877
       Series 2007-2, Class A2,
              5.597%, 04/10/2049 (P) 225,438 225,528
       Series 2007-3, Class AJ,
              5.580%, 06/10/2049 (P) 500,000 514,360
       Series 2007-3, Class AM,
              5.580%, 06/10/2049 (P) 1,000,000 1,077,793

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (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 AMF,
              5.317%, 06/10/2049 $ 500,000 $ 536,036
       Series 2007-4, Class AM,
              5.820%, 02/10/2051 (P) 610,000 662,674
Banc of America Merrill Lynch  
       Commercial Mortgage, Inc.
       Series 2005-5, Class XC IO,
              0.110%, 10/10/2045 (S) 165,991,939 65,899
       Series 2005-2, Class AJ,
              4.950%, 07/10/2043 (P) 2,524,154 2,529,985
Banc of America Mortgage Trust,
       Series 2003-I, Class 2A6
       2.740%, 10/25/2033 (P) 975,700 980,460
Bayview Commercial Asset Trust
       Series 2005-1A, Class A2,
              0.524%, 04/25/2035 (P)(S) 737,059 676,007
       Series 2006-2A, Class A2,
              0.454%, 07/25/2036 (P)(S) 574,446 499,801
BBCMS Trust, Series 2015, Class C
       2.175%, 02/15/2028 (P)(S) 300,000 300,000
Bear Stearns ALT-A Trust  
       Series 2005-5, Class 1A4,
              0.734%, 07/25/2035 (P) 732,342 659,067
       Series 2005-7, Class 11A1,
              0.714%, 08/25/2035 (P) 959,809 890,870
Bear Stearns Asset
       Backed Securities Trust
       Series 2004-AC5, Class A1,
              5.750%, 10/25/2034 (P) 648,688 661,813
       Series 2003-AC4, Class A,
              5.500%, 09/25/2033 (P) 963,747 995,335
Bear Stearns Commercial
       Mortgage Securities Trust
       Series 2007-PWR16, Class AJ,
              5.710%, 06/11/2040 (P) 500,000 513,392
       Series 2004-PWR5, Class X1 IO,
              0.630%, 07/11/2042 (S) 2,526,773 43,410
       Series 2004-T16, Class X1 IO,
              0.400%, 02/13/2046 (S) 1,809,249 15,715
Bear Stearns Mortgage Funding Trust,
       Series 2006-AR4, Class A1
       0.384%, 12/25/2036 (P) 1,060,826 855,306
BHMS Mortgage Trust
       Series 2014-ATLS, Class CFX,
              4.846%, 07/05/2033 (P)(S) 500,000 524,190
       Series 2014-ATLS, Class DFL,
              3.172%, 07/05/2033 (P)(S) 930,000 919,788
BLCP Hotel Trust, Series 2014-CLRN,
       Class D 2.675%, 08/15/2029 (P)(S) 800,000 801,540
BWAY Mortgage Trust
       Series 2013-1515, Class F,
              3.927%, 03/10/2033 (P)(S) 880,000 830,146
       Series 2015-1740, Class D,
              3.787%, 01/13/2035 (P)(S) 530,000 527,401
CD Mortgage Trust, Series 2006-CD3,
       Class AJ 5.688%, 10/15/2048 300,000 297,751
CDGJ Commercial Mortgage Trust,
       Series 2014-BXCH, Class D
       3.174%, 12/15/2027 (P)(S) 890,000 891,230
CHL Mortgage Pass Through Trust,
       Series 2004-HYB2, Class 4A
       2.491%, 07/20/2034 (P) 2,015,467 2,026,016
Citigroup/Deutsche Bank Commercial
       Mortgage Trust, Series 2007-CD4,
       Class AMFX 5.370%, 12/11/2049 (P) 1,000,000 1,045,912
Commercial Mortgage Pass
       Through Certificates
       Series 2007-GG11, Class AJ,
              6.021%, 12/10/2049 (P) 620,000 657,027
       Series 2012-CR2, Class XA IO,
              1.899%, 08/15/2045 13,519,679 1,306,096
       Series 2012-LC4, Class B,
              4.934%, 12/10/2044 (P) 420,000 472,227
       Series 2012-LC4, Class XA IO,
              2.418%, 12/10/2044 (S) 5,871,625 658,015
       Series 2013-300P, Class D,
              4.394%, 08/10/2030 (P)(S) 1,080,000 1,146,392
       Series 2013-300P, Class E,
              4.394%, 08/10/2030 (P)(S) 700,000 711,678
       Series 2013-CR11, Class B,
              5.164%, 10/10/2046 (P) 1,370,000 1,572,727
       Series 2013-CR13, Class C,
              4.755%, 12/10/2023 (P) 675,000 731,414
       Series 2013-CR6, Class XA IO,
              1.524%, 03/10/2046 6,356,486 403,205
       Series 2013-LC13, Class B,
              5.009%, 08/10/2046 (P)(S) 735,000 835,077
       Series 2014-CR15, Class XA IO,
              1.350%, 02/10/2047 9,184,388 621,553
       Series 2014-CR16, Class C,
              4.906%, 04/10/2047 (P) 850,000 923,324
       Series 2014-FL4, Class D,
              2.626%, 07/13/2031 (P)(S) 920,000 914,683
       Series 2014-PAT, Class D,
              2.326%, 08/13/2027 (P)(S) 1,155,000 1,164,845
       Series 2014-TWC, Class D,
              2.422%, 02/13/2032 (P)(S) 680,000 679,415
       Series 2014-UBS2, Class XA IO,
              1.428%, 03/10/2047 5,212,713 450,128
Credit Suisse Commercial Mortgage Trust,
       Series 2007-C3, Class AM
       5.704%, 06/15/2039 (P) 500,000 524,728
Credit Suisse First Boston Mortgage
       Securities Corp., Series 2005-C1,
       Class AX IO 0.717%, 02/15/2038 (S) 2,944,417 2,568
Credit Suisse Mortgage Trust,
       Series 2014-ICE, Class D
       2.325%, 04/15/2027 (P)(S) 685,000 682,957
Deutsche Mortgage Securities, Inc.
       Mortgage Loan Trust, Series 2004-4,
       Class 2AR1 0.444%, 06/25/2034 (P) 730,023 690,544
DSLA Mortgage Loan Trust,
       Series 2004-AR3, Class 2A2B
       0.628%, 07/19/2044 (P) 1,233,324 1,123,423
Extended Stay America Trust
       Series 2013-ESFL, Class DFL,
              3.313%, 12/05/2031 (P)(S) 545,000 544,374
       Series 2013-ESH5, Class C5,
              2.674%, 12/05/2031 (S) 850,000 852,229

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Active Bond Trust (continued)

Shares or
  Principal
      Amount       Value
COLLATERALIZED MORTGAGE
OBLIGATIONS (continued)
Commercial and residential (continued)
FREMF Mortgage Trust
       Series 2011-K10, Class B,
              4.618%, 11/25/2049 (P)(S) $ 1,000,000 $ 1,097,095
       Series 2011-K11, Class B,
              4.420%, 12/25/2048 (P)(S) 875,000 950,452
GAHR Commericial Mortgage Trust  
       Series 2015-NRF, Class DFX,  
              3.382%, 12/15/2019 (S) 325,000 321,492
       Series 2015-NRF, Class EFX,
              3.382%, 12/15/2019 (S) 710,000 672,165
GE Capital Commercial Mortgage Corp.,
       Series 2005-C1, Class XC IO
       0.020%, 06/10/2048 (S) 6,933,299 69
GE Commercial Mortgage Corp. Trust,
       Series 2007-C1, Class AM
       5.610%, 12/10/2049 (P) 1,000,000 1,050,923
Greenwich Capital Commercial
       Funding Corp., Series 2006-GG7,
       Class AM 5.785%, 07/10/2038 (P) 750,000 785,205
GS Mortgage Securities Trust
       Series 2006-GG6, Class AJ,
              5.522%, 04/10/2038 (P) 1,000,000 1,022,121
       Series 2013-GC10, Class C,
              4.290%, 02/10/2046 (P)(S) 859,800 898,724
       Series 2005-GG4, Class XC IO,
              0.702%, 07/10/2039 (S) 16,258,612 5,138
HarborView Mortgage Loan Trust
       Series 2005-11, Class X IO,
              2.410%, 08/19/2045 2,527,851 147,693
       Series 2005-9, Class 2A1C,
              0.626%, 06/20/2035 (P) 1,006,856 922,447
       Series 2005-8, Class 1X IO,
              2.084%, 09/19/2035 2,439,241 127,558
       Series 2007-3, Class ES IO,
              0.350%, 05/19/2047 (S) 25,516,950 271,118
       Series 2007-4, Class ES IO,
              0.350%, 07/19/2047 26,674,520 266,745
       Series 2007-6, Class ES IO,
              0.342%, 08/19/2037 (S) 20,903,657 222,101
HILT Mortgage Trust, Series 2014-ORL,
       Class D 2.322%, 07/15/2029 (P)(S) 890,000 872,992
Hilton USA Trust
       Series 2013-HLF, Class EFL,
              3.923%, 11/05/2030 (P)(S) 721,360 721,360
       Series 2013-HLT, Class DFX,
              4.407%, 11/05/2030 (S) 592,000 609,228
       Series 2013-HLT, Class EFX,
              5.222%, 11/05/2030 (P)(S) 500,000 513,517
Impac Secured Assets Trust,
       Series 2006-5, Class 2A
       0.374%, 12/25/2036 (P) 400,620 375,755
IndyMac Index Mortgage Loan Trust
       Series 2005-AR12, Class AX2 IO,
              2.213%, 07/25/2035 10,186,833 713,577
       Series 2005-AR8, Class AX2 IO,
              2.296%, 04/25/2035 9,932,226 723,394
       Series 2005-AR18, Class 1X IO,
              2.075%, 10/25/2036 7,218,472 638,927
       Series 2005-AR18, Class 2X IO,
              1.738%, 10/25/2036 21,392,675 875,467
Irvine Core Office Trust, Series 2013-IRV,
       Class XA IO 1.106%, 05/15/2048 (S) 19,169,036 868,453
JPMBB Commercial Mortgage
       Securities Trust, Series 2014-C19,
       Class C 4.678%, 04/15/2047 (P) 1,000,000 1,071,039
JPMorgan Chase Commercial
       Mortgage Securities Trust
       Series 2006-LDP8, Class AM,
              5.440%, 05/15/2045 2,292,000 2,407,219
       Series 2006-LDP8, Class X IO,
              0.534%, 05/15/2045 62,064,593 369,222
       Series 2007-CB19, Class AJ,
              5.694%, 02/12/2049 (P) 550,000 512,156
       Series 2007-LD12, Class AM,
              6.009%, 02/15/2051 (P) 885,000 961,629
       Series 2011-C3A, Class XA IO,
              1.174%, 02/15/2046 (S) 23,387,196 916,310
       Series 2011-C4, Class XA IO,
              1.466%, 07/15/2046 (S) 31,490,058 1,281,047
       Series 2012-HSBC, Class XA IO,
              1.431%, 07/05/2032 (S) 13,400,000 1,229,638
       Series 2013-JWRZ, Class D,
              3.164%, 04/15/2030 (P)(S) 705,000 705,031
       Series 2014-FBLU, Class D,
              2.772%, 12/15/2028 (P)(S) 1,135,000 1,138,065
       Series 2014-FL5, Class C,
              2.272%, 07/15/2031 (P)(S) 1,535,000 1,527,689
       Series 2014-INN, Class F,
              4.175%, 06/15/2029 (P)(S) 750,000 745,556
       Series 2014-PHH, Class C,
              2.272%, 08/15/2027 (P)(S) 1,165,000 1,172,413
LB-UBS Commercial Mortgage Trust
       Series 2006-C4, Class AJ,
              5.842%, 06/15/2038 (P) 700,000 733,790
       Series 2007-C1, Class AJ,
              5.484%, 02/15/2040 500,000 521,678
       Series 2007-C7, Class AJ,
              6.351%, 09/15/2045 (P) 1,000,000 1,070,974
       Series 2005-C1, Class XCL IO,
              0.625%, 02/15/2040 (S) 3,311,560 21,542
MASTR Adjustable Rate Mortgages Trust
       Series 2004-11, Class M2,
              1.274%, 11/25/2034 (P) 840,000 812,755
       Series 2004-13, Class 2A1,
              2.645%, 04/21/2034 (P) 548,854 551,883
       Series 2004-8, Class 5A1,
              2.531%, 08/25/2034 (P) 1,465,075 1,453,501
MASTR Alternative Loans Trust,
       Series 2004-4, Class 8A1
       6.500%, 05/25/2034 635,778 660,203
Merrill Lynch Mortgage Investors Trust
       Series 2004-1, Class 2A1,
              2.226%, 12/25/2034 (P) 624,806 608,694
       Series 2005-2, Class 1A,
              1.582%, 10/25/2035 (P) 770,003 746,101
       Series 2005-A, Class A1,
              0.634%, 03/25/2030 (P) 65,175 63,229
Merrill Lynch Mortgage Trust
       Series 2008-C1, Class X IO,
              0.374%, 02/12/2051 (S) 29,389,650 269,562
       Series 2005-CIP1, Class XC IO,
              0.248%, 07/12/2038 (S) 117,220,972 67,519
       Series 2006-C2, Class X IO,
              0.332%, 08/12/2043 (S) 67,215,328 327,876

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Active Bond Trust (continued)

Shares or
  Principal
      Amount       Value
COLLATERALIZED MORTGAGE
OBLIGATIONS (continued)
Commercial and residential (continued)
Merrill Lynch/Countrywide
       Commercial Mortgage Trust
       Series 2007-5, Class AM,  
              5.419%, 08/12/2048 $ 1,260,000 $ 1,331,069
       Series 2007-6, Class AM,
              5.526%, 03/12/2051 (P) 1,950,000 2,024,231
Morgan Stanley Bank of America
       Merrill Lynch Trust
       Series 2012-C5, Class XA IO,
              1.865%, 08/15/2045 (S) 14,912,967 1,180,600
       Series 2012-C6, Class XA IO,
              2.131%, 11/15/2045 (S) 11,574,486 1,054,007
       Series 2013-C7, Class C,
              4.186%, 02/15/2046 (P) 515,000 533,991
       Series 2013-C7, Class XA IO,
              1.704%, 02/15/2046 8,438,797 706,277
       Series 2014-C18, Class 300D,
              5.279%, 08/15/2031 570,000 603,513
Morgan Stanley Capital I Trust
       Series 2007-IQ14, Class AM,  
              5.649%, 04/15/2049 (P) 1,325,000 1,390,517
       Series 2011-C3, Class XA IO,
              1.257%, 07/15/2049 (S) 19,934,747 688,865
       Series 2012-C4, Class AS,
              3.773%, 03/15/2045 2,371,500 2,517,615
       Series 2014-150E, Class D,
              4.295%, 09/09/2032 (P)(S) 1,595,000 1,694,370
       Series 2015, Class XLF1 C,
              2.350%, 08/13/2016 (P)(S) 745,000 745,092
       Series 2005-IQ9, Class X1 IO,
              1.504%, 07/15/2056 (S) 7,129,277 144,731
       Series 2005-T17, Class X1 IO,
              0.755%, 12/13/2041 (S) 7,818,908 27,921
MortgageIT Trust, Series 2005-2,
       Class 1A2 0.504%, 05/25/2035 (P) 660,968 614,827
Multi Security Asset Trust,
       Series 2005-RR4A, Class F
       5.880%, 11/28/2035 (P)(S) 580,000 564,230
Opteum Mortgage Acceptance Corp.,
       Series 2005-3, Class APT
       0.464%, 07/25/2035 (P) 743,635 724,686
Residential Accredit Loans, Inc.
       Series 2005-QO4, Class XIO IO,
              2.395%, 12/25/2045 5,169,860 646,864
       Series 2004-QS16, Class 1A1,
              5.500%, 12/25/2034 106,234 108,166
Sequoia Mortgage Trust, Series 2005-3,
       Class A1 0.376%, 05/20/2035 (P) 190,846 173,957
Springleaf Mortgage Loan Trust,
       Series 2012-3A, Class M1
       2.660%, 12/25/2059 (P)(S) 440,000 439,866
Structured Agency Credit Risk Debt
       Notes, Series 2013-DN2, Class M1
       1.624%, 11/25/2023 (P) 744,227 745,178
Structured Asset Securities Corp.,
       Series 1998-RF2, Class A
       6.460%, 07/15/2027 (P)(S) 126,398 125,248
TimberStar Trust, Series 2006-1A,
       Class A 5.668%, 10/15/2036 (S) 2,300,000 2,434,065
TMSQ Mortgage Trust, Series 2011-1500,
       Class D 3.835%, 10/10/2036 (P)(S) 520,000 523,279
UBS Commercial Mortgage Trust,
       Series 2012-C1, Class B
       4.822%, 05/10/2045 510,000 562,132
UBS-Barclays Commercial
       Mortgage Trust, Series 2012-C2,
       Class XA IO 1.748%, 05/10/2063 (S) 15,428,565 1,160,382
VNDO Mortgage Trust,
       Series 2013-PENN, Class D
       3.947%, 12/13/2029 (P)(S) 859,000 895,691
Wachovia Bank
       Commercial Mortgage Trust
       Series 2005-C16, Class E,
              5.153%, 10/15/2041 (P)(S) 2,217,852 2,217,612
       Series 2007-C30, Class AJ,
              5.413%, 12/15/2043 (P) 1,100,000 1,125,457
       Series 2007-C31, Class AJ,
              5.660%, 04/15/2047 (P) 900,000 937,801
       Series 2007-C31, Class AM,
              5.591%, 04/15/2047 (P) 1,315,000 1,403,870
       Series 2005-C17, Class XC IO,
              0.358%, 03/15/2042 (S) 2,446,123 11,343
       Series 2005-C19, Class AJ,
              4.793%, 05/15/2044 1,862,483 1,866,776
WaMu Mortgage Pass
       Through Certificates
       Series 2004-AR8, Class A2,
              0.574%, 06/25/2044 (P) 875,305 807,529
       Series 2005-AR13, Class X IO,
              1.437%, 10/25/2045 12,253,053 829,348
       Series 2005-AR19, Class A1A2,
              0.464%, 12/25/2045 (P) 908,761 829,122
       Series 2005-AR2, Class 2A1B,
              0.544%, 01/25/2045 (P) 1,459,950 1,342,336
       Series 2005-AR2, Class 2A3,
              0.524%, 01/25/2045 (P) 522,597 480,894
       Series 2005-AR8, Class 2AB2,
              0.594%, 07/25/2045 (P) 1,904,312 1,758,229
       Series 2005-AR8, Class 2AB3,
              0.534%, 07/25/2045 (P) 856,918 786,690
Washington Mutual Alternative Mortgage
       Pass Through Certificates,
       Series 2005-1, Class 6A1
       6.500%, 03/25/2035 369,027 375,297
Wells Fargo Commercial Mortgage Trust
       Series 2013-120B, Class C,
              2.710%, 03/18/2028 (P)(S) 1,385,000 1,370,441
       Series 2013-BTC, Class E,
              3.550%, 04/16/2035 (P)(S) 1,010,000 947,540
Wells Fargo Mortgage Backed
       Securities Trust, Series 2005-AR3,
       Class 1A2 2.620%, 03/25/2035 (P) 598,527 591,987
WF-RBS Commercial Mortgage Trust
       Series 2011-C3, Class XA IO,
              1.579%, 03/15/2044 (S) 24,408,514 1,254,256
       Series 2012-C10, Class XA IO,
              1.787%, 12/15/2045 (S) 7,715,897 737,509
       Series 2012-C9, Class XA IO,
              2.204%, 11/15/2045 (S) 16,526,907 1,792,327
       Series 2013-C15, Class B,
              4.482%, 08/15/2046 (P) 275,000 302,064

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Active Bond Trust (continued)

Shares or
Principal
      Amount       Value
COLLATERALIZED MORTGAGE
OBLIGATIONS (continued)
Commercial and residential (continued)
WF-RBS Commercial
Mortgage Trust (continued)
       Series 2013-C16, Class B,
              4.983%, 09/15/2046 (P) $ 470,000 $ 534,650
    133,191,030
U.S. Government Agency - 4.5%  
Federal Home Loan Mortgage Corp.
       Series 290, Class IO,
              3.500%, 11/15/2032 3,637,357 645,563
       Series 3387, Class SB IO,
              6.246%, 11/15/2037 3,174,645 559,745
       Series 3632, Class AP,
              3.000%, 02/15/2040 3,092,822 3,214,605
       Series 3830, Class NI IO,
              4.500%, 01/15/2036 3,941,903 329,097
       Series 3943, Class DI IO,
              4.000%, 11/15/2039 3,927,579 487,921
       Series 4030, Class BI IO,
              5.000%, 01/15/2042 2,780,706 459,363
       Series 4077, Class IK IO,
              5.000%, 07/15/2042 1,750,593 372,036
       Series K011, Class X1 IO,
              0.333%, 11/25/2020 55,129,219 849,872
       Series K014, Class X1 IO,
              1.242%, 04/25/2021 10,221,799 644,525
       Series K018, Class X1 IO,
              1.440%, 01/25/2022 4,881,394 377,566
       Series K021, Class A2,
              2.396%, 06/25/2022 1,000,000 1,016,209
       Series K021, Class X1 IO,
              1.501%, 06/25/2022 13,511,384 1,174,477
       Series K022, Class X1 IO,
              1.297%, 07/25/2022 12,762,308 945,521
       Series K026, Class X1 IO,
              1.048%, 11/25/2022 11,164,187 719,052
       Series K705, Class X1 IO,
              1.744%, 09/25/2018 15,522,341 823,771
       Series K707, Class X1 IO,
              1.547%, 12/25/2018 11,415,611 569,308
       Series K710, Class X1 IO,
              1.777%, 05/25/2019 5,355,798 334,545
       Series KAIV, Class X1 IO,
              1.357%, 06/25/2021 25,712,064 1,635,853
       Series KS01, Class X1 IO,
              1.638%, 01/25/2023 9,653,822 767,006
       Series T-41, Class 3A,
              6.619%, 07/25/2032 (P) 92,773 106,916
Federal National Mortgage Association
       Series 2001-50, Class BA,
              7.000%, 10/25/2041 20,692 23,727
       Series 2010-135, Class TS IO,
              5.846%, 12/25/2040 5,064,705 830,430
       Series 2010-15, Class KA,
              4.000%, 03/25/2039 1,052,942 1,108,061
       Series 2011-41, Class KA,
              4.000%, 01/25/2041 1,293,914 1,369,304
       Series 2011-86, Class NA,
              4.000%, 01/25/2041 2,260,175 2,350,625
       Series 2012-118, Class IB IO,
              3.500%, 11/25/2042 1,841,120 359,378
       Series 2012-137, Class WI IO,
              3.500%, 12/25/2032 3,671,209 621,273
       Series 2012-21, Class PA,
              2.000%, 03/25/2041 7,047,582 7,009,990
       Series 2012-38, Class PA,
              2.000%, 09/25/2041 1,875,601 1,810,786
       Series 2012-M5, Class X IO,
              0.626%, 02/25/2022 13,229,904 454,156
       Series 2013-M11, Class SA,
              6.496%, 01/25/2018 (P) 5,330,734 328,160
       Series 402, Class 3 IO,
              4.000%, 11/25/2039 604,133 101,767
       Series 402, Class 4 IO,
              4.000%, 10/25/2039 574,197 88,543
       Series 402, Class 7 IO,
              4.500%, 11/25/2039 469,299 76,969
       Series 407, Class 15 IO,
              5.000%, 01/25/2040 635,574 118,365
       Series 407, Class 21 IO,
              5.000%, 01/25/2039 306,513 55,594
       Series 407, Class 7 IO,
              5.000%, 03/25/2041 518,266 98,879
       Series 407, Class 8 IO,
              5.000%, 03/25/2041 199,072 36,904
       Series 407, Class C6 IO,
              5.500%, 01/25/2040 3,452,327 677,269
       Series 2002-W3, Class A5,
              7.500%, 11/25/2041 127,627 149,831
Government National
       Mortgage Association
       Series 2008-90, Class IO,
              0.710%, 12/16/2050 6,735,045 611,017
       Series 2010-147, Class SA IO,
              5.994%, 05/20/2040 5,206,875 698,341
       Series 2010-85, Class SB IO,
              6.426%, 03/16/2040 4,443,796 814,178
       Series 2012-114, Class IO,
              0.971%, 01/16/2053 2,730,069 219,282
       Series 2012-120, Class IO,
              0.946%, 02/16/2053 14,636,535 1,034,832
       Series 2012-70, Class IO,
              0.843%, 08/16/2052 11,141,525 608,372
  37,688,984
TOTAL COLLATERALIZED MORTGAGE
OBLIGATIONS (Cost $165,718,779) $ 170,880,014
 
ASSET BACKED SECURITIES - 8.8%
ABCLO 2007-1 Ltd., Series 2007-1A,
       Class C 2.103%, 04/15/2021 (P)(S) 700,000 694,722
Aegis Asset Backed Securities Trust,
       Series 2005-4, Class M1
       0.624%, 10/25/2035 (P) 1,230,000 1,109,242
Aircraft Lease Securitisation, Ltd.,
       Series 2007-1A, Class G3
       0.435%, 05/10/2032 (P)(S) 434,361 430,018
Ally Auto Receivables Trust,
       Series 2014-2, Class A4
       1.840%, 01/15/2020 1,015,000 1,025,439
Ally Master Owner Trust, Series 2012-4,
       Class A 1.720%, 07/15/2019 410,000 413,474

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Active Bond Trust (continued)

Shares or
Principal
        Amount       Value
ASSET BACKED SECURITIES (continued)  
American Express Credit
       Account Master Trust
       Series 2014-1, Class A4,
              1.490%, 04/15/2020 $ 1,035,000 $ 1,043,100
       Series 2014-4, Class A,  
              1.430%, 06/15/2020 1,140,000 1,145,407
Ameriquest Mortgage Securities, Inc.
       Series 2005-R10, Class M1,
              0.584%, 01/25/2036 (P) 900,000 824,711
       Series 2005-R3, Class M2,
              0.644%, 05/25/2035 (P) 730,000 690,056
Amresco Residential Securities Mortgage
       Loan Trust, Series 1998-1, Class A6
       6.510%, 08/25/2027 2,700 2,905
Apidos Cinco CDO, Ltd., Series 2007-CA,  
       Class D 4.507%, 05/14/2020 (P)(S) 500,000 488,556
Apidos Quattro CDO, Series 2006-QA,
       Class E 3.857%, 01/20/2019 (P)(S) 1,000,000 990,632
Applebee’s/IHOP Funding LLC,
       Series 2014-1, Class A2
       4.277%, 09/05/2044 (S) 1,365,000 1,412,770
Argent Securities, Inc.
       Series 2003-W10, Class M1,
              1.254%, 01/25/2034 (P) 376,692 363,250
       Series 2004-W6, Class M1,
              0.999%, 05/25/2034 (P) 337,594 321,935
ARL First LLC, Series 2012-1A, Class A2
       3.810%, 12/15/2042 (S) 900,000 931,898
Asset Backed Funding Certificates,
       Series 2005-HE1, Class M1
       0.804%, 03/25/2035 (P) — 0
Babson Mid-Market CLO, Inc.,
       Series 2007-2A, Class E
       3.903%, 04/15/2021 (P) 500,000 490,601
Battalion Clo, Ltd., Series 2007-1A,
       Class D 2.403%, 07/14/2022 (P)(S) 400,000 393,702
Bravo Mortgage Asset Trust
       0.524%, 07/25/2036 (P)(S) 595,000 506,802
       Series 2006-1A, Class A2,
              0.414%, 07/25/2036 (P)(S) 1,080,169 1,014,079
Business Loan Express SBA Loan Trust,
       Series 2005-1A, Class A
       0.474%, 06/27/2033 (P)(S) 734,807 668,417
California Republic Auto
       Receivables Trust, Series 2014-4,
       Class A4 1.840%, 06/15/2020 510,000 513,747
CarMax Auto Owner Trust, Series 2014-3,
       Class A3 1.160%, 06/17/2019 995,000 996,396
Centex Home Equity
       Series 2004-D, Class AF4,
              4.680%, 06/25/2032 (P) 377,962 386,918
       Series 2005-A, Class M4,
              0.974%, 01/25/2035 (P) 204,023 156,165
Chase Issuance Trust
       Series 2014-A6, Class A,
              1.260%, 07/15/2019 835,000 836,536
       Series 2014-A7, Class A,
              1.380%, 11/15/2019 1,335,000 1,339,845
       Series 2015, Class A2A,
              1.590%, 02/18/2020 1,000,000 1,006,906
Chrysler Capital Auto Receivables Trust,
       Series 2014-BA, Class A4
       1.760%, 12/16/2019 (S) 410,000 414,064
Citibank Credit Card Issuance Trust
       Series 2007-A8, Class A8,
              5.650%, 09/20/2019 565,000 625,884
       Series 2014-A8, Class A8,
              1.730%, 04/09/2020 1,425,000 1,440,353
Citicorp Residential Mortgage
       Securities, Inc., Series 2007-2, Class A6
       6.265%, 06/25/2037 (P) 283,365 292,146
CKE Restaurant Holdings, Inc.,
       Series 2013-1A, Class A2
       4.474%, 03/20/2043 (S) 1,886,650 1,947,796
Conseco Financial Corp., Series 1996-10,
       Class M1 7.240%, 11/15/2028 (P) 713,700 761,006
ContiMortgage Home Equity Loan Trust,
       Series 1995-2, Class A5
       8.100%, 08/15/2025 9,403 9,001
Countrywide Asset-Backed Certificates,
       Series 2004-10, Class AF5B
       5.613%, 02/25/2035 (P) 619,196 629,749
Credit Suisse Mortgage Trust,
       Series 2006-CF2, Class M1
       0.644%, 05/25/2036 (P)(S) 1,055,000 1,020,876
Credit-Based Asset Servicing
       and Securitization LLC
       Series 2005-CB4, Class M1,
              0.591%, 07/25/2035 (P) 390,000 375,461
       Series 2006-MH1, Class B1,
              5.604%, 10/25/2036 (P)(S) 2,560,000 2,046,305
Cronos Containers Program, Ltd.,
       Series 2013-1A, Class A
       3.080%, 04/18/2028 (S) 1,455,000 1,463,090
DB Master Finance LLC, Series 2015-1A,
       Class A2II 3.980%, 02/20/2045 (S) 1,325,000 1,353,114
Duane Street CLO III, Ltd.,
       Series 2006-3A, Class D
       1.752%, 01/11/2021 (P)(S) 600,000 594,022
Emerson Place CLO, Ltd.,
       Series 2006-1A, Class C
       1.023%, 01/15/2019 (P)(S) 600,000 563,405
Encore Credit Receivables Trust,
       Series 2005-2, Class M2
       0.864%, 11/25/2035 (P) 795,000 775,431
EquiFirst Mortgage Loan Trust,
       Series 2004-3, Class M3
       1.149%, 12/25/2034 (P) 366,986 328,038
Equity One ABS, Inc.
       Series 2004-1, Class M2,
              5.115%, 04/25/2034 (P) 192,398 179,590
       Series 2004-1, Class M3,
              5.260%, 04/25/2034 (P) 303,746 171,795
Foothill CLO, Ltd., Series 2007-1A,
       Class E 3.762%, 02/22/2021 (P)(S) 500,000 497,537
Ford Credit Auto Owner Trust
       Series 2014-1, Class B,
              2.410%, 11/15/2025 (S) 720,000 726,168
       Series 2015, Class AA4,
              1.640%, 06/15/2020 535,000 537,985
Ford Credit Floorplan Master Owner Trust
       Series 2012-5, Class A,
              1.490%, 09/15/2019 1,040,000 1,042,564
       Series 2014-4, Class A1,
              1.400%, 08/15/2019 1,455,000 1,458,495
FRS I LLC, Series 2013-1A, Class B
       3.960%, 04/15/2043 (S) 897,117 911,542

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Active Bond Trust (continued)

Shares or
  Principal
      Amount       Value
ASSET BACKED SECURITIES (continued)
GE Equipment Midticket LLC,
       Series 2014-1, Class A4
       1.590%, 08/22/2023 $ 320,000 $ 321,971
GM Financial Automobile Leasing Trust,
       Series 2015-1, Class A4
       1.730%, 06/20/2019 300,000 302,299
Golden Knight CDO, Ltd.,
       Series 2007-2A, Class D
       1.653%, 04/15/2019 (P)(S) 600,000 582,932
GSAA Home Equity Trust,
       Series 2005-11, Class 3A1  
       0.444%, 10/25/2035 (P) 885,076 831,820
GSAA Trust, Series 2005-10, Class M3
       0.724%, 06/25/2035 (P) 1,045,000 997,477
GSRPM Mortgage Loan Trust,
       Series 2006-1, Class A1
       0.474%, 03/25/2035 (P)(S) 1,208,267 1,185,570
Harch CLO III, Ltd., Series 2007-1A,
       Class D 2.003%, 04/17/2020 (P)(S) 700,000 684,169
Home Equity Asset Trust, Series 2005-1,
       Class M4 1.194%, 05/25/2035 (P) 440,000 423,218
Home Equity Mortgage Loan Asset-
       Backed Trust, Series 2005-C,
       Class AII3 0.544%, 10/25/2025 (P) 620,065 596,987
Honda Auto Receivables Owner Trust,
       Series 2014-3, Class A4
       1.310%, 10/15/2020 1,640,000 1,643,249
John Deere Owner Trust
       Series 2014-B, Class A4,
              1.500%, 06/15/2021 850,000 853,443
       Series 2015, Class AA4,
              1.650%, 12/15/2021 425,000 427,500
LCM V Ltd., Series 5A, Class D
       0.935%, 03/21/2019 (P)(S) 1,000,000 980,075
Long Beach Mortgage Loan Trust,
       Series 2004-1, Class M3
       1.224%, 02/25/2034 (P) 125,106 119,562
Merrill Lynch Mortgage Investors, Inc.,
       Series 2005-WMC1, Class M1
       0.924%, 09/25/2035 (P) 465,176 421,363
Miramax LLC, Series 2014-1A, Class A2
       3.340%, 07/20/2026 (S) 498,300 503,967
MVW Owner Trust, Series 2014-1A,
       Class A 2.250%, 09/20/2031 (S) 276,841 277,242
Nationstar Home Equity Loan Trust,
       Series 2006, Class BAV4
       0.454%, 09/25/2036 (P) 915,000 837,796
Nautique Funding Ltd., Series 2006-1A,
       Class D 4.253%, 04/15/2020 (P)(S) 500,000 490,938
New Century Home Equity Loan Trust
       Series 2005-1, Class M1,
              0.849%, 03/25/2035 (P) 1,245,000 1,180,833
       Series 2005-2, Class M2,
              0.624%, 06/25/2035 (P) 1,205,000 1,114,007
Nissan Master
       Owner Trust Receivables Trust,
       Series 2015-A, Class A2
       1.440%, 01/15/2020 1,165,000 1,165,864
Octagon Investment Partners XI Ltd.,
       Series 2007-1A, Class B
       1.012%, 08/25/2021 (P)(S) 500,000 482,284
Option One Mortgage Loan Trust,
       Series 2004-1, Class M1
       1.074%, 01/25/2034 (P) 472,804 439,758
Porsche Innovative Lease Owner Trust,
       Series 2014-1, Class A4
       1.260%, 09/21/2020 (S) 670,000 671,958
RAMP Trust
       Series 2004-RS9, Class AI-4,
              4.767%, 10/25/2032 (P) 2,106 3,171
       Series 2004-RZ3, Class AI-4,
              4.572%, 05/25/2033 (P) 17,650 17,532
       Series 2005-RS3, Class M1,
              0.594%, 03/25/2035 (P) 555,000 532,872
Renaissance Home Equity Loan Trust,
       Series 2005-2, Class AF4
       4.934%, 08/25/2035 (P) 660,000 663,178
Saratoga CLO I, Ltd., Series 2006-1A,
       Class C 1.751%, 12/15/2019 (P)(S) 500,000 483,101
Saxon Asset Securities Trust,
       Series 2006-2, Class A3C
       0.324%, 09/25/2036 (P) 1,218,073 1,123,981
Sierra Timeshare Receivables
       Funding LLC, Series 2014-2A, Class A
       2.050%, 06/20/2031 (S) 794,834 799,247
Sonic Capital LLC, Series 2011-1A,
       Class A2 5.438%, 05/20/2041 (S) 553,100 583,302
Soundview Home Loan Trust
       Series 2005-CTX1, Class M2,
              0.614%, 11/25/2035 (P) 615,000 577,262
       Series 2006-OPT2, Class A3,
              0.354%, 05/25/2036 (P) 404,086 386,037
Specialty Underwriting & Residential
       Finance Trust, Series 2006-BC1,
       Class A2D 0.474%, 12/25/2036 (P) 1,760,000 1,704,597
Structured Asset Investment Loan Trust
       Series 2005-1, Class M2,
              0.894%, 02/25/2035 (P)(S) 845,000 789,782
       Series 2005-2, Class M2,
              0.909%, 03/25/2035 (P) 880,000 817,765
TAL Advantage V LLC, Series 2014-1A,
       Class A 3.510%, 02/22/2039 (S) 1,114,583 1,132,461
Toyota Auto Receivables Owner Trust,
       Series 2014-C, Class A4
       1.440%, 04/15/2020 400,000 401,662
Volkswagen Credit Auto Master Trust,
       Series 2014-1A, Class A2
       1.400%, 07/22/2019 (S) 675,000 677,791
Westgate Resorts LLC
       Series 2012-2A, Class B,
              4.500%, 01/20/2025 (S) 799,634 803,552
       Series 2012-3A, Class B,
              4.500%, 03/20/2025 (S) 521,633 524,815
       Series 2013-1A, Class B,
              3.750%, 08/20/2025 (S) 259,822 261,431
       Series 2014-1A, Class A,
              2.150%, 12/20/2026 (S) 1,213,130 1,196,267
       Series 2014-1A, Class B,
              3.250%, 12/20/2026 (S) 807,359 800,658
       Series 2014-AA, Class A,
              6.250%, 10/20/2026 (S) 503,609 504,868
       Series 2015-1A, Class A,
              2.750%, 05/20/2027 (S) 640,267 641,196
World Omni Automobile Lease
       Securitization Trust, Series 2014-A,
       Class A4 1.370%, 01/15/2020 265,000 266,772
TOTAL ASSET BACKED SECURITIES (Cost $73,076,428)       $ 73,593,228

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Active Bond Trust (continued)

Shares or
  Principal
      Amount       Value
PREFERRED SECURITIES - 0.7%
Consumer staples - 0.0%
Ocean Spray Cranberries, Inc.,
       Series A, 6.250% (S) 2,216 $ 208,027
Financials - 0.5%
Ally Financial, Inc., 7.000% (S) 999 1,020,385
Discover Financial Services, 6.500% 13,900 360,288
FNB Corp. (7.250% to 02/15/2024, then
       3 month LIBOR + 4.600%) 11,950 337,468
GMAC Capital Trust I (8.125% to  
       02/15/2016, then
       3 month LIBOR + 5.785%) 37,900 994,875
Regions Financial Corp., 6.375% 19,156 482,923
The Goldman Sachs Group, Inc. (5.500%  
       to 05/10/2023, then
       3 month LIBOR + 3.640%) 14,525 365,740
Wells Fargo & Company,
       Series L, 7.500% 300 366,900
Weyerhaeuser Company, 6.375% 3,400 186,048
4,114,627
Industrials - 0.1%
Glasstech, Inc., Series A 1 602
United Technologies Corp., 7.500% 7,436 457,611
458,213
Utilities - 0.1%
Dominion Resources, Inc., 6.375% 13,532 654,949
Exelon Corp., 6.500% (L) 6,627 322,404
977,353
TOTAL PREFERRED SECURITIES (Cost $5,662,793)     $ 5,758,220
 
SECURITIES LENDING COLLATERAL - 0.4%  
John Hancock
       Collateral Trust, 0.1102% (W)(Y) 338,408 3,385,772
TOTAL SECURITIES LENDING
COLLATERAL (Cost $3,385,828) $ 3,385,772
 
SHORT-TERM INVESTMENTS - 2.7%
Money market funds - 2.6%
State Street Institutional U.S. Government
       Money Market Fund, 0.0000% (Y) 21,544,381 21,544,381
Repurchase agreement - 0.1%
Repurchase Agreement with State
       Street Corp. dated 03/31/2015 at
       0.000% to be repurchased at $577,000
       on 04/01/2015, collateralized by
       $535,000 U.S. Treasury Notes, 3.625%
       due 08/15/2019 (valued at $590,533,
       including interest) $ 577,000 $ 577,000
Barclays Tri-Party Repurchase Agreement
       dated 03/31/2015 at 0.130% to be
       repurchased at $821,003 on 04/01/2015,
       collateralized by $846,100 Treasury
       Inflation Index Notes, 0.250% due
       01/15/2025 (valued at $837,304,
       including interest) and by $100
       Treasury Inflation Index Bonds, 2.500%
       due 01/15/2029 (Valued at $139,
       including interest) $ 821,000 $ 821,000
  1,398,000
TOTAL SHORT-TERM INVESTMENTS (Cost $22,942,381)     $ 22,942,381
Total Investments (Active Bond Trust)
       (Cost $810,514,431) - 100.9% $ 845,023,720
Other assets and liabilities, net - (0.9%) (7,426,134 )
TOTAL NET ASSETS - 100.0% $ 837,597,586

All Cap Core Trust

Shares or
Principal
      Amount       Value
COMMON STOCKS - 98.3%
Consumer discretionary - 13.2%
Auto components - 1.0%
American Axle &
       Manufacturing Holdings, Inc. (I) 6,900 $ 178,224
Cooper Tire & Rubber Company 72,700 3,114,468
Lear Corp. 500 55,410
3,348,102
Automobiles - 0.1%
General Motors Company 5,400 202,500
Diversified consumer services - 0.1%
Strayer Education, Inc. (I) 5,900 315,119
Hotels, restaurants and leisure - 3.0%  
Cracker Barrel Old Country Store, Inc. 800 121,712
Darden Restaurants, Inc. 56,200 3,896,908
Isle of Capri Casinos, Inc. (I) 12,800 179,840
Jack in the Box, Inc. 13,100 1,256,552
Marriott International, Inc., Class A 55,000 4,417,600
Penn National Gaming, Inc. (I) 18,000   281,880
Sonic Corp. 14,300 453,310
  10,607,802
Media - 2.5%
AMC Entertainment Holdings, Inc., Class A 9,700 344,253
Cablevision Systems Corp., Class A (L) 4,300 78,690
Cinemark Holdings, Inc. 36,100 1,627,027
News Corp., Class A (I) 4,000 64,040
Sirius XM Holdings, Inc. (I) 677,000 2,586,140
The Interpublic Group of Companies, Inc. 13,100 289,772
The Walt Disney Company 26,300 2,758,607
Time Warner Cable, Inc. 3,200 479,616
Time Warner, Inc. 5,400 455,976
8,684,121
Multiline retail - 2.3%
Burlington Stores, Inc. (I) 4,300 255,506

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

All Cap Core Trust (continued)

Shares or
Principal
      Amount       Value
COMMON STOCKS (continued)
Multiline retail (continued)
Kohl’s Corp. 32,300 $ 2,527,475
Target Corp. 63,100 5,178,617
  7,961,598
Specialty retail - 3.3%
Barnes & Noble, Inc. (I) 61,700 1,465,375
Best Buy Company, Inc. 98,200 3,710,978
Build-A-Bear Workshop, Inc. (I) 21,500 422,475
Express, Inc. (I) 16,200 267,786
Lowe’s Companies, Inc. 64,800 4,820,472
Murphy USA, Inc. (I) 4,300 311,191
Staples, Inc. 3,300 53,741
The Cato Corp., Class A 8,100 320,760
Ulta Salon Cosmetics & Fragrance, Inc. (I) 2,100 316,785
    11,689,563
Textiles, apparel and luxury goods - 0.9%
Skechers U.S.A., Inc., Class A (I) 42,800 3,077,748
  45,886,553
Consumer staples - 8.8%
Beverages - 2.0%
Dr. Pepper Snapple Group, Inc. 34,000 2,668,320
Monster Beverage Corp. (I) 29,700 4,110,332
  6,778,652
Food and staples retailing - 2.2%
CVS Health Corp. 37,900 3,911,659
SUPERVALU, Inc. (I) 30,900 359,367
The Kroger Company 45,700 3,503,362
7,774,388
Food products - 1.7%
Cal-Maine Foods, Inc. (L) 8,000 312,480
Pilgrim’s Pride Corp. (L) 87,000 1,965,330
Sanderson Farms, Inc. (L) 46,400 3,695,760
5,973,570
Household products - 1.3%
The Clorox Company 41,300 4,559,107
Tobacco - 1.6%
Altria Group, Inc. 66,100 3,306,322
Lorillard, Inc. 30,000 1,960,500
Reynolds American, Inc. 4,600 316,986
  5,583,808
  30,669,525
Energy - 6.4%
Energy equipment and services - 0.0%
Atwood Oceanics, Inc. 2,600 73,086
Oil, gas and consumable fuels - 6.4%
Alon USA Energy, Inc. 34,300 568,351
CVR Energy, Inc. (L) 20,800 885,248
Exxon Mobil Corp. 13,200 1,122,000
Frontline, Ltd. (I)(L) 79,000 176,960
Marathon Petroleum Corp. 40,900 4,187,751
Nordic American Tankers, Ltd. (L) 145,900 1,737,669
Pacific Ethanol, Inc. (I)(L) 53,900 581,581
PBF Energy, Inc., Class A 94,900 3,219,008
REX American Resources Corp. (I) 51,300 3,119,553
Tesoro Corp. 13,100 1,195,899
Valero Energy Corp. 78,800 5,013,256
Western Refining, Inc. 7,100 350,669
22,157,945
  22,231,031
Financials - 16.1%
Banks - 4.4%
Capital Bank Financial Corp., Class A (I) 2,400 66,264
Citigroup, Inc. 99,300 5,115,936
City National Corp. 5,700 507,756
East West Bancorp, Inc. 21,800 882,028
First BanCorp (I) 20,200 125,240
First Citizens BancShares, Inc., Class A 3,500 908,915
Heartland Financial USA, Inc. 3,100 101,153
JPMorgan Chase & Co. 19,400 1,175,252
KeyCorp 59,400 841,104
MidSouth Bancorp, Inc. 3,800 56,050
OFG Bancorp 8,300 135,456
Pinnacle Financial Partners, Inc. 2,600 115,596
Popular, Inc. (I) 46,600 1,602,574
Signature Bank (I) 6,700 868,186
SunTrust Banks, Inc. 50,200 2,062,718
Valley National Bancorp 30,300 286,032
Wintrust Financial Corp. 11,800 562,624
15,412,884
Capital markets - 1.3%
BGC Partners, Inc., Class A 13,200 124,740
INTL. FCStone, Inc. (I) 1,900 56,487
Janus Capital Group, Inc. 16,400 281,916
Northern Trust Corp. 48,000 3,343,200
The Goldman Sachs Group, Inc. 4,300 808,271
4,614,614
Diversified financial services - 4.3%
Berkshire Hathaway, Inc., Class B (I) 15,000 2,164,800
CME Group, Inc. 48,300 4,574,493
Intercontinental Exchange Group, Inc. 12,800 2,985,856
McGraw-Hill Financial, Inc. 21,900 2,264,460
Voya Financial, Inc. 68,500 2,953,035
14,942,644
Insurance - 2.4%
Alleghany Corp. (I) 5,821 2,834,827
Arch Capital Group, Ltd. (I) 24,200 1,490,720
Lincoln National Corp. 16,900 971,074
Markel Corp. (I) 500 384,480
The Allstate Corp. 8,100 576,477
The Progressive Corp. 83,400 2,268,480
8,526,058
Real estate investment trusts - 1.4%
AG Mortgage Investment Trust, Inc. 28,400 535,056
Chimera Investment Corp. 490,900 1,541,426
CoreSite Realty Corp. 12,200 593,896
Crown Castle International Corp. 4,100 338,414
Regency Centers Corp. 9,200 625,968
Ryman Hospitality Properties 15,000 913,650
Simon Property Group, Inc. 2,400 469,536
5,017,946
Real estate management and development - 1.9%
CBRE Group, Inc., Class A (I) 35,300 1,366,463
Jones Lang LaSalle, Inc. 26,400 4,498,560

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

All Cap Core Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)  
Real estate management and development (continued)    
The St. Joe Company (I) 37,400 $ 694,144
  6,559,167
Thrifts and mortgage finance - 0.4%    
Berkshire Hills Bancorp, Inc. 12,500   346,250
Essent Group, Ltd. (I) 36,200   865,542
  1,211,792
  56,285,105
Health care - 16.2%    
Biotechnology - 5.3%    
Amgen, Inc. 36,900   5,898,465
Biogen, Inc. (I) 12,700   5,362,448
Gilead Sciences, Inc. (I) 38,300   3,758,379
Hyperion Therapeutics, Inc. (I) 2,500   114,750
PDL BioPharma, Inc. (L) 37,000   260,295
Pharmacyclics, Inc. (I) 12,300   3,148,185
  18,542,522
Health care equipment and supplies - 1.1%    
Edwards Lifesciences Corp. (I) 27,200   3,874,912
Health care providers and services - 5.0%    
Aetna, Inc. 700   74,571
AmerisourceBergen Corp. 6,700   761,589
Anthem, Inc. 31,700   4,894,797
Centene Corp. (I) 63,800   4,510,022
Cigna Corp. 3,700   478,928
Health Net, Inc. (I) 34,200   2,068,758
Humana, Inc. 900   160,218
Laboratory Corp. of America Holdings (I) 8,300   1,046,547
LifePoint Hospitals, Inc. (I) 31,800   2,335,710
UnitedHealth Group, Inc. 8,700   1,029,123
  17,360,263
Health care technology - 0.0%    
Merge Healthcare, Inc. (I) 16,000   71,520
Life sciences tools and services - 2.0%    
Affymetrix, Inc. (I) 31,700   398,152
Cambrex Corp. (I) 6,800   269,484
Illumina, Inc. (I) 16,000   2,970,240
Mettler-Toledo International, Inc. (I) 1,500   492,975
Quintiles Transnational Holdings, Inc. (I) 44,800   3,000,256
  7,131,107
Pharmaceuticals - 2.8%    
Eli Lilly & Company 8,400   610,260
Hospira, Inc. (I) 50,400   4,427,136
Johnson & Johnson 4,300   432,580
Lannett Company, Inc. (I)(L) 7,600   514,596
Mallinckrodt PLC (I) 4,200   531,930
Merck & Company, Inc. 35,000   2,011,800
Mylan NV (I) 11,800   700,330
Pfizer, Inc. 9,300   323,547
Sucampo Pharmaceuticals, Inc., Class A (I)(L) 9,000   140,040
  9,692,219
  56,672,543
Industrials - 11.9%    
Aerospace and defense - 5.6%    
General Dynamics Corp. 33,600   4,560,528
Huntington Ingalls Industries, Inc. 13,500   1,892,025
Lockheed Martin Corp. 2,100   426,216
Northrop Grumman Corp. 28,900   4,651,744
Rockwell Collins, Inc. 44,900   4,335,095
Spirit Aerosystems Holdings, Inc., Class A (I) 72,800   3,800,888
  19,666,496
Air freight and logistics - 0.4%    
C.H. Robinson Worldwide, Inc. 16,300   1,193,486
Airlines - 2.0%    
JetBlue Airways Corp. (I) 17,800   342,650
Southwest Airlines Company 103,500   4,585,050
United Continental Holdings, Inc. (I) 30,100   2,024,225
  6,951,925
Building products - 0.0%    
American Woodmark Corp. (I) 2,400   131,352
Commercial services and supplies - 1.1%    
Cintas Corp. 47,500   3,877,425
Construction and engineering - 0.2%    
Argan, Inc. 12,100   437,657
Dycom Industries, Inc. (I) 5,200   253,968
  691,625
Electrical equipment - 0.2%    
Acuity Brands, Inc. 4,200   706,272
Industrial conglomerates - 0.3%    
Danaher Corp. 11,300   959,370
Machinery - 0.4%    
PACCAR, Inc. 18,600   1,174,404
The Greenbrier Companies, Inc. (L) 5,000   290,000
  1,464,404
Marine - 0.2%    
Matson, Inc. 12,200   514,352
Professional services - 0.7%    
Insperity, Inc. 10,400   543,816
Robert Half International, Inc. 22,200   1,343,544
RPX Corp. (I) 43,900   631,721
  2,519,081
Road and rail - 0.8%    
Union Pacific Corp. 26,700   2,891,877
USA Truck, Inc. (I) 1,400   38,766
  2,930,643
  41,606,431
Information technology - 20.1%    
Communications equipment - 1.2%    
InterDigital, Inc. 82,400   4,180,976
Electronic equipment, instruments and components - 0.5%    
Jabil Circuit, Inc. 73,300   1,713,754
Internet software and services - 0.6%    
Angie’s List, Inc. (I)(L) 7,900   46,373
EarthLink Holdings Corp. 67,900   301,476
Facebook, Inc., Class A (I) 10,100   830,372
GrubHub, Inc. (I)(L) 10,900   494,751
Monster Worldwide, Inc. (I) 49,900   316,366
  1,989,338
IT services - 6.6%    
Amdocs, Ltd. 6,000   326,400
Booz Allen Hamilton Holding Corp. 16,600   480,404
Broadridge Financial Solutions, Inc. 50,100   2,756,001

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

All Cap Core Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
IT services (continued)
Cognizant Technology
       Solutions Corp., Class A (I) 52,700 $ 3,287,953
Computer Sciences Corp. 45,900 2,996,352
DST Systems, Inc. 28,700 3,177,377
EPAM Systems, Inc. (I) 21,800 1,336,122
Fiserv, Inc. (I) 11,300 897,220
Leidos Holdings, Inc. 22,000 923,120
MAXIMUS, Inc. 13,100 874,556
Paychex, Inc. 34,800 1,726,602
Science Applications International Corp. 2,000 102,700
Visa, Inc., Class A 65,000 4,251,650
23,136,457
Semiconductors and semiconductor equipment - 3.3%
Amkor Technology, Inc. (I) 29,000 256,215
Cirrus Logic, Inc. (I) 2,500 83,150
Freescale Semiconductor, Ltd. (I) 15,400 627,704
Integrated Device Technology, Inc. (I) 120,200 2,406,404
Lam Research Corp. 500 35,118
Micron Technology, Inc. (I) 67,600 1,833,988
NVIDIA Corp. 23,600 493,830
Tessera Technologies, Inc. 68,900 2,775,292
Texas Instruments, Inc. 52,400 2,996,494
11,508,195
Software - 2.5%
Electronic Arts, Inc. (I) 41,200 2,423,178
Ellie Mae, Inc. (I) 6,700 370,577
ePlus, Inc. (I) 3,100 269,483
FactSet Research Systems, Inc. 14,800 2,356,160
Fair Isaac Corp. 4,200 372,624
Manhattan Associates, Inc. (I) 40,400 2,044,644
Microsoft Corp. 21,607 878,433
8,715,099
Technology hardware, storage and peripherals - 5.4%
Apple, Inc. 124,582 15,501,738
Hewlett-Packard Company 102,500 3,193,900
Lexmark International, Inc., Class A 7,300 309,082
19,004,720
70,248,539
Materials - 2.5%
Chemicals - 1.4%
CF Industries Holdings, Inc. 500 141,840
The Mosaic Company 13,800 635,628
The Sherwin-Williams Company 14,200 4,039,900
4,817,368
Construction materials - 0.7%
Vulcan Materials Company 28,200 2,377,260
Metals and mining - 0.4%
Alcoa, Inc. 104,400 1,348,848
Newmont Mining Corp. 9,400 204,074
1,552,922
8,747,550
Telecommunication services - 1.0%
Diversified telecommunication services - 1.0%
Atlantic Tele-Network, Inc. 7,300 505,306
CenturyLink, Inc. 24,700 853,385
Inteliquent, Inc. 41,500 653,210
Level 3 Communications, Inc. (I) 21,100 1,136,024
magicJack VocalTec, Ltd. (I)(L) 25,400 173,736
Vonage Holdings Corp. (I) 30,800 151,228
3,472,889
Utilities - 2.1%
Electric utilities - 1.0%
Edison International 13,400 837,098
Entergy Corp. 33,600 2,603,664
3,440,762
Multi-utilities - 1.1%
PG&E Corp. 58,900 3,125,823
Public Service Enterprise Group, Inc. 20,700 867,744
3,993,567
7,434,329
TOTAL COMMON STOCKS (Cost $312,669,720) $ 343,254,495
 
SECURITIES LENDING COLLATERAL - 2.5%
John Hancock
       Collateral Trust, 0.1102% (W)(Y) 889,950 8,903,950
TOTAL SECURITIES LENDING
COLLATERAL (Cost $8,904,194) $ 8,903,950
 
SHORT-TERM INVESTMENTS - 1.6%
Money market funds - 1.6%
State Street Institutional Liquid Reserves
       Fund, 0.0986% (Y) 5,591,138 5,591,138
TOTAL SHORT-TERM INVESTMENTS (Cost $5,591,138) $ 5,591,138
Total Investments (All Cap Core Trust)
       (Cost $327,165,052) - 102.4% $ 357,749,583
Other assets and liabilities, net - (2.4%) (8,544,299 )
TOTAL NET ASSETS - 100.0% $ 349,205,284

Alpha Opportunities Trust

Shares or
Principal
Amount		       Value
COMMON STOCKS - 96.4%
Consumer discretionary - 14.6%
Automobiles - 0.5%
Fiat Chrysler Automobiles NV (I) 66,532 $ 1,080,085
Fiat Chrysler Automobiles NV (I) 82 1,337
Harley-Davidson, Inc. 47,905 2,909,750
3,991,172
Diversified consumer services - 0.0%
The Honest Company, Inc. (I)(R) 3,841 95,718
95,718
Hotels, restaurants and leisure - 1.6%
Accor SA 20,920 1,090,896
Hilton Worldwide Holdings, Inc. (I) 70,006 2,073,578
McDonald’s Corp. 62,066 6,047,700
Starbucks Corp. 4,438 420,279
Whitbread PLC 22,227 1,725,924
Wyndham Worldwide Corp. 6,113 553,043
11,911,420

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Alpha Opportunities Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
Household durables - 3.5%
D.R. Horton, Inc. 199,170 $ 5,672,362
Electrolux AB, Series B 59,765 1,707,391
GoPro, Inc., Class A (I)(L) 34,093 1,479,977
iRobot Corp. (I) 17,091 557,679
Lennar Corp., Class A 26,190 1,356,904
NVR, Inc. (I) 4,216 5,601,631
PulteGroup, Inc. 224,292 4,986,011
Sony Corp. (I) 20,340 543,965
Sony Corp., ADR (I) 25,855 692,397
Whirlpool Corp. 20,679 4,178,399
26,776,716
Internet and catalog retail - 2.4%
Amazon.com, Inc. (I) 28,315 10,536,012
Groupon, Inc. (I) 227,879 1,643,008
HSN, Inc. 11,388 777,003
Netflix, Inc. (I) 11,030 4,596,091
Vipshop Holdings, Ltd., ADR (I) 26,560 781,926
18,334,040
Media - 1.1%
CyberAgent, Inc. 15,877 909,391
DISH Network Corp., Class A (I) 23,855 1,671,281
Loral Space & Communications, Inc. (I) 8,681 594,128
Sky PLC 79,943 1,176,120
Solocal Group (I) 537,871 356,608
Tribune Media Company, Class A 5,970 363,036
Twenty-First Century Fox, Inc., Class A 99,566 3,369,313
8,439,877
Multiline retail - 0.1%
Intime Retail Group Company, Ltd. 186,460 129,685
Tuesday Morning Corp. (I) 17,015 273,942
403,627
Specialty retail - 4.8%
Advance Auto Parts, Inc. 81,311 12,171,444
AutoNation, Inc. (I) 4,680 301,064
CarMax, Inc. (I) 9,150 631,442
CST Brands, Inc. 15,687 687,561
L Brands, Inc. 8,469 798,542
Lowe’s Companies, Inc. 99,631 7,411,550
Pier 1 Imports, Inc. 146,264 2,044,771
Signet Jewelers, Ltd. 5,681 788,466
The Home Depot, Inc. 40,649 4,618,133
The TJX Companies, Inc. 84,583 5,925,039
Tiffany & Company 10,909 960,101
Zhongsheng Group Holdings, Ltd. 230,250 152,708
36,490,821
Textiles, apparel and luxury goods - 0.6%
ANTA Sports Products, Ltd. 205,733 375,676
Asics Corp. 19,755 537,580
Kate Spade & Company (I) 14,378 480,081
Michael Kors Holdings, Ltd. (I) 5,879 386,544
Samsonite International SA 733,780 2,553,334
4,333,215
110,776,606
Consumer staples - 4.7%
Beverages - 2.6%
Anheuser-Busch InBev NV 9,274 1,132,962
Anheuser-Busch InBev NV, ADR 26,283 3,204,161
Diageo PLC, ADR 15,974 1,766,245
Molson Coors Brewing Company, Class B 17,445 1,298,780
Monster Beverage Corp. (I) 14,801 2,048,384
The Coca-Cola Company 217,954 8,838,035
Treasury Wine Estates, Ltd. 341,698 1,327,637
19,616,204
Food and staples retailing - 0.2%
Seven & I Holdings Company, Ltd. 29,079 1,221,994
1,221,994
Food products - 1.5%
Greencore Group PLC 571,899 2,732,315
Keurig Green Mountain, Inc. 2,064 230,611
Kraft Foods Group, Inc. 46,558 4,055,900
Mondelez International, Inc., Class A 26,767 966,021
Post Holdings, Inc. (I) 19,863 930,383
The Hershey Company 22,487 2,269,163
TreeHouse Foods, Inc. (I) 6,832 580,857
11,765,250
Household products - 0.3%
Svenska Cellulosa AB SCA, B Shares 21,692 498,457
The Procter & Gamble Company 24,109 1,975,491
2,473,948
Personal products - 0.1%
The Estee Lauder Companies, Inc., Class A 12,099 1,006,153
1,006,153
36,083,549
Energy - 5.4%
Energy equipment and services - 0.7%
Baker Hughes, Inc. 10,992 698,871
Halliburton Company 37,900 1,663,052
McDermott International, Inc. (I)(L) 156,268 600,069
Patterson-UTI Energy, Inc. 50,108 940,778
Petroleum Geo-Services ASA (L) 52,472 269,200
Trican Well Service, Ltd. 254,495 693,228
4,865,198
Oil, gas and consumable fuels - 4.7%
BG Group PLC 264,476 3,246,109
Chevron Corp. 29,195 3,064,891
China Suntien Green Energy Corp., Ltd.,
       H Shares 3,199,350 774,124
Cobalt International Energy, Inc. (I) 176,959 1,665,184
Cosan, Ltd., Class A 98,833 625,613
Energen Corp. 672 44,352
EOG Resources, Inc. 8,782 805,222
Exxon Mobil Corp. 36,743 3,123,155
Imperial Oil, Ltd. 111,744 4,456,351
Karoon Gas Australia, Ltd. (I)(L) 667,694 1,090,723
Laredo Petroleum, Inc. (I)(L) 101,303 1,320,991
Occidental Petroleum Corp. 28,056 2,048,088
Pioneer Natural Resources Company 30,561 4,997,029
Rice Energy, Inc. (I) 32,654 710,551
Southwestern Energy Company (I)(L) 12,521 290,362
Suncor Energy, Inc. 96,185 2,813,411
Tsakos Energy Navigation, Ltd. 208,874 1,708,589
Whiting Petroleum Corp. (I) 27,411 847,000
World Fuel Services Corp. 37,762 2,170,560
35,802,305
40,667,503

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Alpha Opportunities Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
Financials - 13.6%
Banks - 4.3%
Alpha Bank AE (I) 1,928,777 $ 571,331
Axis Bank, Ltd. 83,748 765,662
BOK Financial Corp. (L) 26,687 1,633,778
Citigroup, Inc. 68,367 3,522,268
Cullen/Frost Bankers, Inc. 7,126 492,264
First Republic Bank 27,234 1,554,789
Grupo Financiero Galicia SA, ADR (L) 17,790 411,839
HDFC Bank, Ltd. 66,905 1,274,828
JPMorgan Chase & Co. 64,825 3,927,099
M&T Bank Corp. 41,039 5,211,953
Piraeus Bank SA (I) 1,216,932 469,678
Sberbank of Russia, ADR 79,400 346,978
Seven Bank, Ltd. 39,699 195,745
The PNC Financial Services Group, Inc. 81,390 7,588,804
Wells Fargo & Company 83,795 4,558,448
32,525,464
Capital markets - 1.9%
BlackRock, Inc. 30,028 10,985,444
GF Securities Company, Ltd., H Shares (I) 63,700 154,882
Julius Baer Group, Ltd. (I) 24,633 1,231,251
Legg Mason, Inc. 10,395 573,804
Matsui Securities Company, Ltd. 41,450 376,031
SEI Investments Company 25,269 1,114,110
14,435,522
Consumer finance - 0.1%
Springleaf Holdings, Inc. (I) 8,780 454,541
454,541
Diversified financial services - 0.8%
Berkshire Hathaway, Inc., Class B (I) 16,110 2,324,995
Japan Exchange Group, Inc. 3,757 108,776
London Stock Exchange Group PLC 6,518 237,060
McGraw-Hill Financial, Inc. 13,437 1,389,386
Moody’s Corp. 8,450 877,110
MSCI, Inc. 13,900 852,209
5,789,536
Insurance - 5.8%
ACE, Ltd. 66,060 7,365,029
Alleghany Corp. (I) 4,304 2,096,048
American International Group, Inc. 138,248 7,574,608
Fairfax Financial Holdings, Ltd. 4,706 2,638,080
Markel Corp. (I) 7,089 5,451,157
Marsh & McLennan Companies, Inc. 135,571 7,604,177
MetLife, Inc. 97,593 4,933,326
Reinsurance Group of America, Inc. 17,977 1,675,277
St James’s Place PLC 89,556 1,238,667
Unum Group 51,528 1,738,039
White Mountains Insurance Group, Ltd. 2,799 1,915,971
44,230,379
Real estate - 0.0%
WeWork Companies, Inc., Class A (I)(R) 2,554 42,527
42,527
Real estate investment trusts - 0.3%
Kennedy Wilson Europe Real Estate PLC 138,609 2,257,323
2,257,323
Real estate management and development - 0.4%
Daito Trust Construction Company, Ltd. 10,300 1,150,156
Deutsche Annington Immobilien SE 65,612 2,210,969
3,361,125
103,096,417
Health care - 17.6%
Biotechnology - 2.9%
Actelion, Ltd. (I) 1,284 148,088
Agios Pharmaceuticals, Inc. (I) 8,331 785,613
Alnylam Pharmaceuticals, Inc. (I) 13,286 1,387,324
Arena Pharmaceuticals, Inc. (I)(L) 201,362 879,952
Biogen, Inc. (I) 5,781 2,440,969
BioMarin Pharmaceutical, Inc. (I) 6,884 857,884
Celgene Corp. (I) 19,389 2,235,164
Five Prime Therapeutics, Inc. (I) 10,780 246,323
Gilead Sciences, Inc. (I) 7,800 765,414
Incyte Corp. (I) 16,122 1,477,743
Innate Pharma SA (I) 17,990 155,002
Isis Pharmaceuticals, Inc. (I) 6,871 437,477
Medivation, Inc. (I) 4,538 585,720
Portola Pharmaceuticals, Inc. (I) 16,400 622,544
PTC Therapeutics, Inc. (I) 8,723 530,795
Puma Biotechnology, Inc. (I) 4,859 1,147,258
Receptos, Inc. (I) 7,624 1,257,121
Regeneron Pharmaceuticals, Inc. (I) 4,859 2,193,741
Regulus Therapeutics, Inc. (I)(L) 17,200 291,368
TESARO, Inc. (I)(L) 12,511 718,131
United Therapeutics Corp. (I) 3,074 530,065
Vertex Pharmaceuticals, Inc. (I) 18,807 2,218,662
21,912,358
Health care equipment and supplies - 1.5%
Becton, Dickinson and Company 46,268 6,643,622
Boston Scientific Corp. (I) 15,598 276,865
Corindus Vascular Robotics, Inc. (I) 259,891 1,104,537
Medtronic PLC 45,148 3,521,093
11,546,117
Health care providers and services - 2.6%
Acadia Healthcare Company, Inc. (I) 21,542 1,542,407
Aetna, Inc. 9,652 1,028,228
Cardinal Health, Inc. 45,272 4,086,703
Envision Healthcare Holdings, Inc. (I) 103,529 3,970,337
HCA Holdings, Inc. (I) 7,270 546,922
Health Net, Inc. (I) 6,737 407,521
Humana, Inc. 2,485 442,380
Laboratory Corp. of America Holdings (I) 22,366 2,820,129
LifePoint Hospitals, Inc. (I) 3,736 274,409
UnitedHealth Group, Inc. 39,528 4,675,767
Universal Health Services, Inc., Class B 3,183 374,671
20,169,474
Health care technology - 0.1%
CareView Communications, Inc. (I) 1,175,205 564,098
564,098
Life sciences tools and services - 0.3%
Illumina, Inc. (I) 11,131 2,066,359
2,066,359
Pharmaceuticals - 10.2%
Actavis PLC (I) 31,073 9,247,946
Astellas Pharma, Inc. 17,334 284,016
AstraZeneca PLC 66,383 4,555,099
AstraZeneca PLC, ADR 14,591 998,462
Bristol-Myers Squibb Company 341,968 22,056,936

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Alpha Opportunities Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
Pharmaceuticals (continued)
Eisai Company, Ltd. 24,285 $ 1,727,339
Eli Lilly & Company 7,284 529,183
Endo International PLC (I) 5,479 491,466
Hikma Pharmaceuticals PLC 11,261 354,426
Jazz Pharmaceuticals PLC (I) 6,088 1,051,946
Johnson & Johnson 65,205 6,559,623
Merck & Company, Inc. 219,017 12,589,097
Mylan NV (I) 8,423 499,905
Ono Pharmaceutical Company, Ltd. 34,344 3,875,512
Pfizer, Inc. 113,304 3,941,846
Roche Holding AG 11,495 3,158,734
Sanofi, ADR 16,257 803,746
Santen Pharmaceutical Company, Ltd. 15,680 228,705
TherapeuticsMD, Inc. (I) 743,521 4,498,302
77,452,289
133,710,695
Industrials - 13.5%
Aerospace and defense - 2.8%
DigitalGlobe, Inc. (I) 106,724 3,636,087
Lockheed Martin Corp. 17,373 3,526,024
Northrop Grumman Corp. 19,792 3,185,720
Raytheon Company 6,270 684,998
Safran SA 9,900 691,728
TransDigm Group, Inc. 4,909 1,073,696
United Technologies Corp. 69,630 8,160,636
20,958,889
Air freight and logistics - 1.0%
FedEx Corp. 1,833 303,270
United Parcel Service, Inc., Class B 72,656 7,043,273
UTi Worldwide, Inc. (I) 7,932 97,564
7,444,107
Airlines - 1.2%
AirAsia BHD 1,229,026 789,185
American Airlines Group, Inc. 47,811 2,523,465
JetBlue Airways Corp. (I) 41,878 806,152
Southwest Airlines Company 14,418 638,717
Spirit Airlines, Inc. (I) 9,253 715,812
United Continental Holdings, Inc. (I) 43,623 2,933,647
Wizz Air Holdings PLC (I)(S) 15,801 325,571
8,732,549
Building products - 1.0%
Lennox International, Inc. 42,998 4,802,447
Owens Corning 48,120 2,088,408
Wienerberger AG 19,663 313,767
7,204,622
Commercial services and supplies - 0.3%
Clean Harbors, Inc. (I) 45,322 2,573,383
2,573,383
Construction and engineering - 0.9%
Abengoa SA, B Shares (L) 140,678 509,794
AECOM (I) 132,364 4,079,458
China Machinery Engineering Corp., H Shares 199,465 201,617
Jacobs Engineering Group, Inc. (I) 46,310 2,091,360
6,882,229
Electrical equipment - 1.7%
Acuity Brands, Inc. 26,859 4,516,609
Capstone Turbine Corp. (I)(L) 866,481 563,213
Eaton Corp. PLC 61,154 4,154,803
Nidec Corp. 15,624 1,037,148
Schneider Electric SE 28,066 2,184,062
Zumtobel Group AG 22,874 566,642
13,022,477
Industrial conglomerates - 0.7%
3M Company 14,254 2,351,197
Danaher Corp. 37,054 3,145,885
5,497,082
Machinery - 1.5%
Allison Transmission Holdings, Inc. 100,156 3,198,983
Arcam AB (I)(L) 42,146 773,060
IDEX Corp. 22,694 1,720,886
Jain Irrigation Systems, Ltd. 900,430 885,553
PACCAR, Inc. 48,825 3,082,811
Pall Corp. 17,012 1,707,835
SMC Corp. 751 223,621
11,592,749
Road and rail - 1.7%
AMERCO 4,153 1,372,151
Canadian National Railway Company 21,132 1,415,196
CSX Corp. 18,274 605,235
DSV A/S 73,738 2,291,688
Genesee & Wyoming, Inc., Class A (I) 35,258 3,400,282
Hertz Global Holdings, Inc. (I) 111,831 2,424,496
J.B. Hunt Transport Services, Inc. 8,283 707,327
Knight Transportation, Inc. 15,591 502,810
Old Dominion Freight Line, Inc. (I) 2,934 226,798
12,945,983
Trading companies and distributors - 0.7%
HD Supply Holdings, Inc. (I) 29,617 922,718
MSC Industrial Direct Company, Inc., Class A 40,388 2,916,014
Rexel SA 81,380 1,534,483
5,373,215
102,227,285
Information technology - 20.0%
Communications equipment - 2.3%
Alcatel-Lucent, ADR (I) 154,967 578,027
Cisco Systems, Inc. 426,700 11,744,918
F5 Networks, Inc. (I) 14,035 1,613,183
Motorola Solutions, Inc. 35,435 2,362,451
Palo Alto Networks, Inc. (I) 3,078 449,634
ParkerVision, Inc. (I)(L) 765,905 635,701
17,383,914
Electronic equipment, instruments and components - 1.0%
Arrow Electronics, Inc. (I) 26,490 1,619,864
Hamamatsu Photonics KK 8,776 264,527
Hitachi High-Technologies Corp. 3,347 101,857
Hoya Corp. 6,108 244,530
IPG Photonics Corp. (I)(L) 2,591 240,186
Largan Precision Company, Ltd. 13,400 1,151,970
Murata Manufacturing Company, Ltd. 1,131 155,331
TE Connectivity, Ltd. 56,643 4,056,772
7,835,037
Internet software and services - 6.4%
21Vianet Group, Inc., ADR (I)(L) 19,753 348,838
Akamai Technologies, Inc. (I) 95,486 6,783,803
Alibaba Group Holding, Ltd., ADR (I) 62,469 5,199,920
AOL, Inc. (I) 19,159 758,888

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Alpha Opportunities Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
Internet software and services (continued)
Baidu, Inc., ADR (I) 9,396 $ 1,958,126
CoStar Group, Inc. (I) 30,775 6,088,218
Coupons.com, Inc. (I)(L) 142,007 1,667,162
Facebook, Inc., Class A (I) 76,139 6,259,768
Gogo, Inc. (I)(L) 106,328 2,026,612
Google, Inc., Class C (I) 10,024 5,493,152
LinkedIn Corp., Class A (I) 4,822 1,204,825
Monster Worldwide, Inc. (I) 228,744 1,450,237
New Relic, Inc. (I)(L) 570 19,779
New Relic, Inc. (I) 11,544 387,868
Pandora Media, Inc. (I) 35,721 579,037
Qihoo 360 Technology
       Company, Ltd., ADR (I)(L) 9,488 485,786
Tencent Holdings, Ltd. 116,212 2,206,855
Yelp, Inc. (I) 14,308 677,484
Zillow Group, Inc., Class A (I)(L) 46,071 4,620,921
48,217,279
IT services - 1.4%
Accenture PLC, Class A 51,485 4,823,630
Automatic Data Processing, Inc. 26,790 2,294,296
EPAM Systems, Inc. (I) 7,634 467,888
Fidelity National Information Services, Inc. 5,165 351,530
Global Payments, Inc. 3,404 312,079
Optimal Payments PLC (I)(L) 350,998 2,737,904
10,987,327
Semiconductors and semiconductor equipment - 3.7%
Applied Materials, Inc. 37,436 844,556
Avago Technologies, Ltd. 3,197 405,955
Broadcom Corp., Class A 10,805 467,802
Cypress Semiconductor Corp. (I) 65,909 929,976
GCL-Poly Energy Holdings, Ltd. (I) 4,840,140 1,281,431
Intel Corp. 87,251 2,728,339
Maxim Integrated Products, Inc. 55,457 1,930,458
Micron Technology, Inc. (I) 93,163 2,527,512
NXP Semiconductors NV (I) 71,995 7,225,418
SK Hynix, Inc. 19,946 814,727
Sumco Corp. 231,830 3,882,364
SunEdison Semiconductor, Ltd. (I) 41,847 1,080,490
SunEdison, Inc. (I)(L) 144,893 3,477,432
SunPower Corp. (I)(L) 19,495 610,388
28,206,848
Software - 3.0%
Adobe Systems, Inc. (I) 20,923 1,547,047
Cadence Design Systems, Inc. (I) 54,588 1,006,603
EnerNOC, Inc. (I) 84,755 966,207
FactSet Research Systems, Inc. 17,284 2,751,613
FireEye, Inc. (I)(L) 7,646 300,106
Fortinet, Inc. (I) 10,260 358,587
Manhattan Associates, Inc. (I) 10,052 508,732
Microsoft Corp. 215,189 8,748,509
ServiceNow, Inc. (I) 3,422 269,585
Symantec Corp. 69,878 1,632,699
Tableau Software, Inc., Class A (I) 4,840 447,797
Tangoe, Inc. (I) 39,036 538,697
UBISOFT Entertainment (I) 56,274 1,039,080
Workday, Inc., Class A (I) 29,872 2,521,496
22,636,758
Technology hardware, storage and peripherals - 2.2%
Apple, Inc. 130,252 16,207,256
Stratasys, Ltd. (I)(L) 9,575 505,369
16,712,625
151,979,788
Materials - 5.4%
Chemicals - 2.8%
Huntsman Corp. 130,814 2,900,146
Methanex Corp. 26,655 1,427,908
Platform Specialty Products Corp. (I) 238,670 6,124,272
Praxair, Inc. 43,601 5,264,385
The Dow Chemical Company 41,017 1,967,996
The Sherwin-Williams Company 4,925 1,401,163
Wacker Chemie AG 21,200 2,447,089
21,532,959
Construction materials - 0.7%
Headwaters, Inc. (I) 11,333 207,847
Holcim, Ltd. (I) 7,860 585,589
Lafarge SA 6,743 438,367
Martin Marietta Materials, Inc. 24,566 3,434,327
Vulcan Materials Company 3,403 286,873
4,953,003
Containers and packaging - 0.9%
Ball Corp. 25,251 1,783,731
Packaging Corp. of America 17,156 1,341,428
Silgan Holdings, Inc. 29,794 1,731,925
Smurfit Kappa Group PLC 79,276 2,227,644
7,084,728
Metals and mining - 0.2%
Rio Tinto PLC, ADR (L) 37,510 1,552,914
1,552,914
Paper and forest products - 0.8%
Louisiana-Pacific Corp. (I) 96,277 1,589,533
Norbord, Inc. (L) 221,515 4,662,737
6,252,270
41,375,874
Telecommunication services - 0.6%
Diversified telecommunication services - 0.4%
Verizon Communications, Inc. 60,706 2,952,133
2,952,133
Wireless telecommunication services - 0.2%
Idea Cellular, Ltd. 148,325 433,993
SoftBank Corp. 16,430 956,873
1,390,866
4,342,999
Utilities - 1.0%
Electric utilities - 0.7%
Duke Energy Corp. 66,043 5,070,782
Empresa Distribuidora y Comercializadora
Norte, ADR (I) 11,860 191,658
Pampa Energia SA, ADR (I) 9,110 160,974
5,423,414
Gas utilities - 0.2%
UGI Corp. 47,473 1,547,145

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Alpha Opportunities Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
Independent power and renewable electricity producers - 0.1%
China Longyuan Power Group Corp., H Shares 846,230 $ 919,754
919,754
7,890,313
TOTAL COMMON STOCKS (Cost $653,825,718) $ 732,151,029
 
PREFERRED SECURITIES - 1.7%
Consumer discretionary - 0.0%
The Honest Company, Inc. (I)(R) 8,963 223,358
223,358
Financials - 0.1%
Forward Venture (I)(R) 14,346 406,008
Redfin Corp. (I)(R) 78,202 257,887
WeWork Companies, Inc., Series D1 (I)(R) 12,694 211,370
WeWork Companies, Inc., Series D2 (I)(R) 9,974 166,079
1,041,344
Health care - 0.0%
ConforMIS, Inc. (I)(R) 27,370 218,960
218,960
Industrials - 0.1%
Lithium Technology Corp. (I)(R) 85,197 443,024
443,024
Information technology - 1.5%
Apigee Corp., Series H (I)(R) 148,495 582,100
Birst, Inc. (I) 46,072 269,102
Cloudera, Inc., Series F (I)(R) 15,771 487,639
DocuSign, Inc., Series B (I)(R) 865 12,992
DocuSign, Inc., Series B1 (I)(R) 259 3,890
DocuSign, Inc., Series D (I)(R) 621 9,327
DocuSign, Inc., Series E (I)(R) 16,071 241,386
DraftKings, Inc. (I)(R) 75,450 135,907
Dropbox, Inc., Series C (I)(R) 10,895 193,059
Essence Group Holdings Corp. (I)(R) 203,629 384,859
LendingClub Corp., Series D (I) 19,116 363,718
Lookout, Inc., Series F (I)(R) 25,174 287,565
Nutanix, Inc. (I)(R) 32,127 502,788
Pinterest, Inc., Series G (I)(R) 32,419 1,163,695
Pure Storage, Inc., Series F (I)(R) 62,660 1,110,962
Uber Technologies, Inc. (I)(R) 142,224 4,738,548
Veracode, Inc. (I)(R) 18,712 512,522
Zuora, Inc., Series F (I)(R) 99,899 379,546
11,379,605
TOTAL PREFERRED SECURITIES (Cost $9,782,374) $ 13,306,291
 
WARRANTS - 0.1%
Moscow Exchange MICEX (Expiration Date:
       04/18/2023; Strike Price: RUB 0.00) (I)(S) 686,230 813,471
TOTAL WARRANTS (Cost $1,113,219) $ 813,471
             
SECURITIES LENDING COLLATERAL - 3.9%
John Hancock
       Collateral Trust, 0.1102% (W)(Y) 2,937,622 29,390,907
TOTAL SECURITIES LENDING
COLLATERAL (Cost $29,391,246) $ 29,390,907
 
SHORT-TERM INVESTMENTS - 1.7%
Repurchase agreement - 1.7%
Deutsche Bank Tri-Party Repurchase
       Agreement dated 03/31/2015 at 0.150% to
       be repurchased at $13,100,055 on
       04/01/2015, collateralized by $13,564,000
       Federal National Mortgage Association,
       7.125% due 01/15/2030 (valued at
       $8,531,756, including interest) and
       $4,831,000 Federal Home Loan Bank,
       0.000% due 04/22/2015 (valued at
       $4,830,855, including interest) $ 13,100,000 $ 13,100,000
TOTAL SHORT-TERM INVESTMENTS (Cost $13,100,000) $ 13,100,000
Total Investments (Alpha Opportunities Trust)
       (Cost $707,212,557) - 103.8% $ 788,761,698
Other assets and liabilities, net - (3.8%) (29,097,205 )
TOTAL NET ASSETS - 100.0% $ 759,664,493

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 74,500,070 $ 1,673,271,578
TOTAL INVESTMENT COMPANIES (Cost $1,014,870,496) $ 1,673,271,578
Total Investments (American Asset Allocation Trust)
       (Cost $1,014,870,496) - 100.0% $ 1,673,271,578
Other assets and liabilities, net - 0.0% (16,343 )
TOTAL NET ASSETS - 100.0% $ 1,673,255,235

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 8,621,721 $ 251,581,823
TOTAL INVESTMENT COMPANIES (Cost $196,127,026) $ 251,581,823
Total Investments (American Global Growth Trust)
       (Cost $196,127,026) - 100.0% $ 251,581,823
Other assets and liabilities, net - 0.0% 55,462
TOTAL NET ASSETS - 100.0% $ 251,637,285

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

American Growth Trust

Shares or
Principal
Amount		       Value
INVESTMENT COMPANIES - 100.0%
American Funds Insurance Series - 100.0%
American Growth Fund - Class 1 12,263,914 $ 1,024,282,060
TOTAL INVESTMENT COMPANIES (Cost $563,506,614) $ 1,024,282,060
Total Investments (American Growth Trust)
       (Cost $563,506,614) - 100.0% $ 1,024,282,060
Other assets and liabilities, net - 0.0% (14,389 )
TOTAL NET ASSETS - 100.0% $ 1,024,267,671

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 22,883,478 $ 1,228,156,289
TOTAL INVESTMENT COMPANIES (Cost $755,410,539) $ 1,228,156,289
Total Investments (American Growth-Income Trust)
       (Cost $755,410,539) - 100.0% $ 1,228,156,289
Other assets and liabilities, net - 0.0% (18,165 )
TOTAL NET ASSETS - 100.0% $ 1,228,138,124

American International Trust

Shares or
Principal
Amount		       Value
INVESTMENT COMPANIES - 100.0%
American Funds Insurance Series - 100.0%
American International Fund - Class 1 28,322,276 $ 607,512,815
TOTAL INVESTMENT COMPANIES (Cost $438,275,688) $ 607,512,815
Total Investments (American International Trust)
       (Cost $438,275,688) - 100.0% $ 607,512,815
Other assets and liabilities, net - 0.0% (13,805 )
TOTAL NET ASSETS - 100.0% $ 607,499,010

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 3,460,373 $ 73,775,150
TOTAL INVESTMENT COMPANIES (Cost $77,380,090) $ 73,775,150
Total Investments (American New World Trust)
       (Cost $77,380,090) - 100.0% $ 73,775,150
Other assets and liabilities, net - 0.0% (12,974 )
TOTAL NET ASSETS - 100.0% $ 73,762,176

Blue Chip Growth Trust

Shares or
Principal
Amount		       Value
COMMON STOCKS - 99.6%
Consumer discretionary - 23.6%
Auto components - 0.2%
BorgWarner, Inc. 22,400 $ 1,354,749
Delphi Automotive PLC 20,200 1,610,748
2,965,497
Automobiles - 0.4%
Tesla Motors, Inc. (I)(L) 37,900 7,154,383
Hotels, restaurants and leisure - 5.3%
Carnival Corp. 23,600 1,129,024
Chipotle Mexican Grill, Inc. (I) 22,800 14,832,312
Hilton Worldwide Holdings, Inc. (I) 348,022 10,308,412
Las Vegas Sands Corp. 33,100 1,821,824
Marriott International, Inc., Class A 35,929 2,885,817
MGM Resorts International (I) 465,100 9,781,053
Norwegian Cruise Line Holdings, Ltd. (I) 79,300 4,282,993
Royal Caribbean Cruises, Ltd. 4,500 368,325
Starbucks Corp. 298,600 28,277,420
Starwood Hotels & Resorts Worldwide, Inc. 4,100 342,350
Wynn Macau, Ltd. 865,200 1,869,803
Wynn Resorts, Ltd. 146,600 18,454,008
94,353,341
Internet and catalog retail - 9.4%
Amazon.com, Inc. (I) 210,689 78,397,377
Ctrip.com International, Ltd., ADR (I) 14,000 820,680
Netflix, Inc. (I) 47,500 19,792,775
The Priceline Group, Inc. (I) 44,900 52,270,335
Vipshop Holdings, Ltd., ADR (I) 561,700 16,536,448
167,817,615
Leisure products - 0.0%
Polaris Industries, Inc. 1,500 211,650
Media - 0.7%
The Walt Disney Company 115,600 12,125,284
Time Warner, Inc. 3,400 287,096
Twenty-First Century Fox, Inc., Class A 6,400 216,576
12,628,956
Specialty retail - 6.3%
AutoZone, Inc. (I) 7,900 5,389,064
CarMax, Inc. (I) 76,300 5,265,463
L Brands, Inc. 92,600 8,731,254
Lowe’s Companies, Inc. 382,800 28,476,492
O’Reilly Automotive, Inc. (I) 95,700 20,694,168
Ross Stores, Inc. 112,000 11,800,320
The Home Depot, Inc. 174,400 19,813,584
Tractor Supply Company 134,700 11,457,582
111,627,927
Textiles, apparel and luxury goods - 1.3%
Hanesbrands, Inc. 383,500 12,851,085
NIKE, Inc., Class B 89,300 8,959,469
PVH Corp. 3,800 404,928
VF Corp. 22,000 1,656,820
23,872,302
420,631,671
Consumer staples - 2.7%
Beverages - 0.3%
Constellation Brands, Inc., Class A (I) 30,200 3,509,542
Monster Beverage Corp. (I) 11,700 1,619,222
5,128,764

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Blue Chip Growth Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
Food and staples retailing - 2.0%
Costco Wholesale Corp. 58,500 $ 8,862,458
CVS Health Corp. 162,100 16,730,341
Walgreens Boots Alliance, Inc. 124,700 10,559,596
36,152,395
Food products - 0.0%
Keurig Green Mountain, Inc. 4,800 536,304
Personal products - 0.4%
The Estee Lauder Companies, Inc., Class A 78,200 6,503,112
48,320,575
Energy - 1.7%
Oil, gas and consumable fuels - 1.7%
Cimarex Energy Company 5,100 586,959
Concho Resources, Inc. (I) 21,900 2,538,648
Continental Resources, Inc. (I) 8,400 366,828
EOG Resources, Inc. 1,100 100,859
EQT Corp. 154,600 12,811,702
Pioneer Natural Resources Company 53,500 8,747,785
Range Resources Corp. 111,892 5,822,860
30,975,641
30,975,641
Financials - 6.6%
Banks - 0.0%
Citigroup, Inc. 5,200 267,904
Capital markets - 4.0%
Ameriprise Financial, Inc. 90,451 11,834,609
Invesco, Ltd. 296,000 11,748,240
Morgan Stanley 503,900 17,984,191
Northern Trust Corp. 7,589 528,574
State Street Corp. 159,907 11,757,962
TD Ameritrade Holding Corp. 454,100 16,919,766
70,773,342
Consumer finance - 0.0%
American Express Company 2,252 175,926
Diversified financial services - 0.7%
Intercontinental Exchange Group, Inc. 54,400 12,689,888
Insurance - 0.3%
Marsh & McLennan Companies, Inc. 90,000 5,048,100
Real estate investment trusts - 1.6%
American Tower Corp. 308,138 29,011,193
117,966,353
Health care - 24.3%
Biotechnology - 11.4%
Alexion Pharmaceuticals, Inc. (I) 204,800 35,491,840
Biogen, Inc. (I) 127,700 53,920,048
Celgene Corp. (I) 324,800 37,442,944
Gilead Sciences, Inc. (I) 394,300 38,692,659
Pharmacyclics, Inc. (I) 65,700 16,815,915
Regeneron Pharmaceuticals, Inc. (I) 26,700 12,054,516
Vertex Pharmaceuticals, Inc. (I) 72,300 8,529,231
202,947,153
Health care equipment and supplies - 1.9%
Becton, Dickinson and Company 73,300 10,525,147
Intuitive Surgical, Inc. (I) 23,900 12,070,217
Medtronic PLC 60,611 4,727,052
Stryker Corp. 52,679 4,859,638
The Cooper Companies, Inc. 13,900 2,605,138
34,787,192
Health care providers and services - 5.2%
AmerisourceBergen Corp. 74,500 8,468,415
Anthem, Inc. 44,300 6,840,363
Cardinal Health, Inc. 131,000 11,825,370
Humana, Inc. 4,200 747,684
McKesson Corp. 230,200 52,071,240
UnitedHealth Group, Inc. 104,800 12,396,792
92,349,864
Life sciences tools and services - 1.5%
Thermo Fisher Scientific, Inc. 193,800 26,035,092
Pharmaceuticals - 4.3%
Actavis PLC (I) 137,098 40,803,107
Eli Lilly & Company 39,100 2,840,615
Perrigo Company PLC 1,200 198,660
Shire PLC, ADR 23,600 5,647,244
Valeant Pharmaceuticals International, Inc. (I) 139,600 27,727,352
77,216,978
433,336,279
Industrials - 12.9%
Aerospace and defense - 3.0%
Honeywell International, Inc. 26,300 2,743,353
Precision Castparts Corp. 93,400 19,614,000
Textron, Inc. 41,100 1,821,963
The Boeing Company 199,000 29,865,920
54,045,236
Air freight and logistics - 0.8%
FedEx Corp. 88,600 14,658,870
Airlines - 2.8%
American Airlines Group, Inc. 552,600 29,166,228
Delta Air Lines, Inc. 2,700 121,392
United Continental Holdings, Inc. (I) 300,200 20,188,450
49,476,070
Industrial conglomerates - 3.4%
3M Company 18,400 3,035,080
Danaher Corp. 526,926 44,736,017
Roper Industries, Inc. 78,200 13,450,400
61,221,497
Machinery - 1.0%
Flowserve Corp. 43,300 2,446,017
Ingersoll-Rand PLC 10,000 680,800
Pall Corp. 27,600 2,770,764
Wabtec Corp. 123,300 11,714,733
17,612,314
Professional services - 0.2%
IHS, Inc., Class A (I) 21,700 2,468,592
Road and rail - 1.7%
Canadian Pacific Railway, Ltd. 23,800 4,348,260
J.B. Hunt Transport Services, Inc. 55,300 4,722,344
Kansas City Southern 84,400 8,615,552
Union Pacific Corp. 122,700 13,289,637
30,975,793
230,458,372

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Blue Chip Growth Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
Information technology - 24.1%
Internet software and services - 13.4%
Akamai Technologies, Inc. (I) 44,100 $ 3,133,085
Alibaba Group Holding, Ltd., ADR (I) 206,461 17,185,814
Baidu, Inc., ADR (I) 176,800 36,845,120
Facebook, Inc., Class A (I) 581,308 47,792,237
Google, Inc., Class A (I) 69,366 38,477,320
Google, Inc., Class C (I) 84,766 46,451,768
LinkedIn Corp., Class A (I) 51,100 12,767,846
NAVER Corp. 1,945 1,173,424
Tencent Holdings, Ltd. 1,140,900 21,665,582
Twitter, Inc. (I) 258,900 12,965,712
238,457,908
IT services - 5.9%
Cognizant Technology
       Solutions Corp., Class A (I) 53,200 3,319,148
Fiserv, Inc. (I) 157,500 12,505,500
MasterCard, Inc., Class A 501,200 43,298,668
Visa, Inc., Class A 691,200 45,211,392
104,334,708
Software - 2.6%
Autodesk, Inc. (I) 28,000 1,641,920
Electronic Arts, Inc. (I) 108,300 6,369,665
Intuit, Inc. 1,900 184,224
Microsoft Corp. 1,400 56,917
Red Hat, Inc. (I) 151,387 11,467,565
salesforce.com, Inc. (I) 375,200 25,067,112
ServiceNow, Inc. (I) 30,400 2,394,912
47,182,315
Technology hardware, storage and peripherals - 2.2%
Apple, Inc. 310,800 38,672,844
428,647,775
Materials - 3.7%
Chemicals - 3.7%
Ashland, Inc. 39,700 5,054,207
E.I. du Pont de Nemours & Company 20,700 1,479,429
Ecolab, Inc. 167,100 19,112,898
PPG Industries, Inc. 21,400 4,826,556
The Sherwin-Williams Company 121,000 34,424,500
64,897,590
64,897,590
Telecommunication services - 0.0%
Wireless telecommunication services - 0.0%
SoftBank Corp. 4,300 250,429
TOTAL COMMON STOCKS (Cost $1,047,056,552) $ 1,775,484,685
 
SECURITIES LENDING COLLATERAL - 0.4%
John Hancock
       Collateral Trust, 0.1102% (W)(Y) 661,615 6,619,461
TOTAL SECURITIES LENDING
COLLATERAL (Cost $6,619,574) $ 6,619,461
 
SHORT-TERM INVESTMENTS - 0.6%
Money market funds - 0.6%
State Street Institutional U.S. Government
       Money Market Fund, 0.0000% (Y) 627,361 627,361
T. Rowe Price Reserve Investment
       Fund, 0.0384% (Y) 9,725,975 9,725,975
10,353,336
TOTAL SHORT-TERM INVESTMENTS (Cost $10,353,336) $ 10,353,336
Total Investments (Blue Chip Growth Trust)
       (Cost $1,064,029,462) - 100.6% $ 1,792,457,482
Other assets and liabilities, net - (0.6%) (10,369,861 )
TOTAL NET ASSETS - 100.0% $ 1,782,087,621

Bond Trust

Shares or
Principal
Amount		       Value
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS - 53.8%
U.S. Government - 18.9%
Treasury Inflation Protected Securities
       0.125%, 04/15/2018 $ 104,908,888 $ 107,048,070
       0.250%, 01/15/2025 104,429,525 105,229,038
U.S. Treasury Bonds
       3.000%, 11/15/2044 312,145,000 342,066,908
       3.125%, 11/15/2041 to 02/15/2042 408,955,000 457,166,636
U.S. Treasury Notes
       0.625%, 04/30/2018 83,000,000 82,234,823
       0.875%, 01/15/2018 90,000,000 90,084,420
       1.000%, 06/30/2019 82,895,000 82,059,584
       1.250%, 10/31/2018 to 01/31/2020 282,781,000 284,138,134
       1.750%, 09/30/2019 123,000,000 125,344,626
       2.000%, 02/15/2025 (L) 302,904,000 304,820,777
1,980,193,016
U.S. Government Agency - 34.9%
Federal Farm Credit Bank
       1.740%, 03/11/2020 60,150,000 59,868,498
       2.350%, 03/14/2022 23,765,000 23,571,719
       2.500%, 06/20/2022 16,277,000 16,280,760
       2.920%, 12/13/2027 4,851,000 4,742,779
Federal Home Loan Bank
       2.900%, 09/05/2025 7,433,333 7,387,165
       3.170%, 10/04/2027 7,600,000 7,561,711
       3.250%, 06/21/2027 10,221,212 10,224,442
Federal Home Loan Mortgage Corp.
       0.800%, 12/30/2016 59,000,000 59,004,720
       1.250%, 03/13/2018 68,900,000 68,906,546
       1.300%, 11/27/2017 106,400,000 106,558,962
       1.750%, 05/30/2019 40,395,000 41,082,846
       2.340%, 09/01/2039 (P) 1,518,635 1,623,990
       2.371%, 04/01/2042 (P) 24,811,273 25,612,056
       2.558%, 06/01/2044 (P) 18,422,136 19,097,934
       2.601%, 06/01/2044 (P) 14,012,257 14,543,910
       2.613%, 06/01/2035 (P) 4,466,439 4,776,996
       2.615%, 11/01/2041 (P) 451,411 470,233
       2.621%, 01/01/2044 (P) 2,679,035 2,784,251
       2.678%, 05/01/2044 (P) 19,877,833 20,661,020
       3.000%, 02/01/2043 to 03/01/2043 56,232,168 57,738,716
       3.009%, 03/01/2044 (P) 19,919,470 20,813,854
       3.469%, 05/01/2042 (P) 18,488,896 19,739,202
       3.500%, 02/01/2026 to 04/01/2044 108,917,411 115,495,975

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Bond 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)
       4.000%, 09/01/2041 to 11/01/2043 $ 68,826,680 $ 74,017,813
       4.337%, 09/01/2039 (P) 594,136 633,484
       4.500%, 08/01/2040 to 10/01/2041 103,732,758 113,704,946
       5.000%, 09/01/2040 to 04/01/2041 37,648,835 41,861,388
       5.500%, 07/01/2037 to 10/01/2039 16,165,809 18,182,929
       6.000%, 11/01/2037 6,771,899 7,785,906
       6.500%, 12/01/2036 to 09/01/2039 14,758,704 16,890,830
Federal National Mortgage Association
       1.500%, 05/25/2018 37,265,000 37,240,070
       1.570%, 01/09/2020 209,075,000 208,642,842
       1.600%, 01/30/2020 76,915,000 76,594,111
       1.919%, 08/01/2042 (P) 1,266,150 1,310,916
       2.260%, 10/01/2035 (P) 47,568,344 50,868,398
       2.360%, 12/14/2022 50,000,000 49,740,900
       2.400%, 04/01/2042 (P) 10,107,581 10,480,197
       2.487%, 02/01/2042 (P) 8,405,938 8,746,060
       2.500%, 03/27/2023 45,510,000 44,930,248
       2.908%, 03/01/2044 (P) 19,008,954 19,823,012
       2.925%, 01/01/2044 (P) 12,444,418 12,985,713
       2.931%, 02/01/2042 (P) 4,579,996 4,799,771
       3.000%, 07/01/2027 to 04/01/2043 165,671,325 169,010,774
       3.250%, 07/26/2032 4,317,000 4,268,227
       3.400%, 09/27/2032 21,793,000 21,827,912
       3.500%, 11/01/2025 to 10/01/2043 356,988,511 378,048,644
       3.921%, 02/01/2040 (P) 233,623 247,522
       4.000%, 12/01/2024 to 06/01/2044 540,973,355 586,112,534
       4.500%, 01/01/2027 to 05/01/2042 414,491,974 454,092,783
       4.521%, 09/01/2039 (P) 2,192,418 2,341,049
       5.000%, 02/01/2033 to 02/01/2042 330,146,617 368,647,037
       5.500%, 02/01/2035 to 03/01/2041 64,676,764 73,044,409
       6.000%, 04/01/2035 to 06/01/2040 12,107,363 13,871,409
       6.500%, 07/01/2036 to 10/01/2039 46,912,758 53,919,890
Government National Mortgage Association
       2.500%, 11/20/2039 (P) 4,076,619 4,234,182
       4.000%, 10/15/2039 to 11/15/2041 22,316,512 23,991,926
       5.000%, 08/15/2039 193,868 216,890
3,661,663,007
TOTAL U.S. GOVERNMENT AND AGENCY
OBLIGATIONS (Cost $5,457,724,172) $ 5,641,856,023
           
CORPORATE BONDS - 34.4%
Consumer discretionary - 3.1%
21st Century Fox America, Inc.
       6.150%, 03/01/2037 4,605,000 5,946,846
       6.400%, 12/15/2035 4,125,000 5,427,362
Amazon.com, Inc.
       4.950%, 12/05/2044 19,265,000 21,019,945
Borgwarner, Inc.
       3.375%, 03/15/2025 6,740,000 6,937,415
BorgWarner, Inc.
       4.625%, 09/15/2020 11,070,000 12,221,158
Brinker International, Inc.
       2.600%, 05/15/2018 9,353,000 9,394,527
Delphi Corp.
       5.000%, 02/15/2023 37,810,000 40,551,225
DIRECTV Holdings LLC
       4.450%, 04/01/2024 27,175,000 29,022,655
Ford Motor Company
       4.750%, 01/15/2043 5,310,000 5,806,469
Ford Motor Credit Company LLC
       5.875%, 08/02/2021 53,334,000 62,784,891
       8.000%, 12/15/2016 13,415,000 14,859,313
Macy’s Retail Holdings, Inc.
       7.875%, 08/15/2036 12,631,000 13,630,794
Nissan Motor Acceptance Corp.
       1.950%, 09/12/2017 (S) 17,070,000 17,338,733
QVC, Inc.
       4.375%, 03/15/2023 12,905,000 13,148,272
       5.125%, 07/02/2022 9,060,000 9,630,635
       5.450%, 08/15/2034 11,775,000 11,680,117
Seminole Indian Tribe of Florida, Inc.
       6.535%, 10/01/2020 (S) 100,000 107,500
Sirius XM Radio, Inc.
       5.250%, 08/15/2022 (S) 26,481,000 27,937,455
Time Warner Cable, Inc.
       8.250%, 04/01/2019 15,105,000 18,475,530
325,920,842
Consumer staples - 0.9%
Beam, Inc.
       1.750%, 06/15/2018 25,000,000 24,993,300
Bunge, Ltd. Finance Corp.
       8.500%, 06/15/2019 26,963,000 33,224,968
Pernod-Ricard SA
       5.750%, 04/07/2021 (S) 14,632,000 16,980,012
Rite Aid Corp.
       6.125%, 04/01/2023 (S) 2,435,000 2,495,875
The Kroger Company
       6.400%, 08/15/2017 13,605,000 15,166,908
92,861,063
Energy - 3.7%
Anadarko Petroleum Corp.
       8.700%, 03/15/2019 14,675,000 17,939,835
Boardwalk Pipelines LP
       5.500%, 02/01/2017 5,820,000 6,081,539
CenterPoint Energy Resources Corp.
       6.125%, 11/01/2017 10,885,000 12,127,534
CNOOC Finance 2013, Ltd.
       3.000%, 05/09/2023 16,165,000 15,789,924
Continental Resources, Inc.
       5.000%, 09/15/2022 24,660,000 24,320,925
DCP Midstream LLC
       9.750%, 03/15/2019 (S) 14,925,000 16,607,809
DCP Midstream Operating LP
       2.500%, 12/01/2017 11,715,000 11,044,808
       3.875%, 03/15/2023 6,220,000 5,599,113
Energy Transfer Partners LP
       5.200%, 02/01/2022 7,490,000 8,160,730
       9.700%, 03/15/2019 10,360,000 13,022,344
Enterprise Products Operating LLC
       6.500%, 01/31/2019 32,015,000 37,005,818
       6.650%, 04/15/2018 6,845,000 7,811,760
Enterprise Products Operating LLC (8.375% to
       08/01/2016, then 3 month LIBOR + 3.708%)
       08/01/2066 16,460,000 17,344,725
Freeport-McMoran Oil & Gas LLC
       6.750%, 02/01/2022 18,276,000 19,372,560
       6.875%, 02/15/2023 4,076,000 4,325,655
Kerr-McGee Corp.
       6.950%, 07/01/2024 12,690,000 15,880,355
Kinder Morgan Energy Partners LP
       7.750%, 03/15/2032 6,675,000 8,284,389

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Bond Trust (continued)

Shares or
Principal
Amount		       Value
CORPORATE BONDS (continued)
Energy (continued)
Kinder Morgan, Inc.
       4.300%, 06/01/2025 $ 13,550,000 $ 13,908,316
Lukoil International Finance BV
       3.416%, 04/24/2018 (S) 18,780,000 17,291,685
MPLX LP
       4.000%, 02/15/2025 5,585,000 5,629,691
Northwest Pipeline LLC
       6.050%, 06/15/2018 23,354,000 26,222,619
ONEOK Partners LP
       3.200%, 09/15/2018 10,580,000 10,707,690
Petroleos Mexicanos
       4.250%, 01/15/2025 (S) 4,730,000 4,794,092
       4.875%, 01/24/2022 6,650,000 7,057,313
Rowan Companies, Inc.
       4.875%, 06/01/2022 14,278,000 13,723,128
SESI LLC
       7.125%, 12/15/2021 21,880,000 22,098,800
Suncor Energy, Inc.
       6.100%, 06/01/2018 10,005,000 11,268,632
Williams Partners LP
       4.875%, 05/15/2023 to 03/15/2024 18,812,000 18,931,773
392,353,562
Financials - 17.7%
American Express Company
       3.625%, 12/05/2024 10,435,000 10,716,380
American International Group, Inc.
       4.125%, 02/15/2024 9,895,000 10,711,595
American International Group, Inc. (8.175% to
       5-15-38, then 3 month LIBOR + 4.195%)
       05/15/2058 1,652,000 2,342,619
American Tower Corp.
       3.400%, 02/15/2019 12,115,000 12,510,979
       4.700%, 03/15/2022 11,995,000 12,864,158
Aquarius + Investments PLC (6.375% to
       09/01/2019, then 5 Year U.S. Swap
       Rate + 5.210%)
       09/01/2024 6,740,000 7,215,123
ARC Properties Operating Partnership LP
       2.000%, 02/06/2017 22,865,000 22,150,469
       4.600%, 02/06/2024 19,901,000 19,353,723
Ares Capital Corp.
       3.875%, 01/15/2020 15,750,000 16,025,688
Assured Guaranty US Holdings, Inc.
       5.000%, 07/01/2024 (L) 18,655,000 19,964,749
AXA SA
       8.600%, 12/15/2030 2,020,000 2,826,990
AXA SA (6.379% to 12/14/2036, then
       3 month LIBOR + 2.256%)
       12/14/2036 (Q)(S) 7,350,000 8,218,256
Bank of America Corp.
       3.300%, 01/11/2023 10,970,000 11,113,038
       4.200%, 08/26/2024 10,300,000 10,656,030
       4.250%, 10/22/2026 10,320,000 10,653,769
       5.000%, 05/13/2021 19,620,000 22,146,664
       6.875%, 04/25/2018 22,446,000 25,671,198
Barclays Bank PLC
       6.050%, 12/04/2017 (S) 24,450,000 26,907,543
       10.179%, 06/12/2021 (S) 17,215,000 23,549,604
BNP Paribas SA
       2.375%, 09/14/2017 33,711,000 34,356,094
Boston Properties LP
       3.700%, 11/15/2018 8,589,000 9,147,732
BPCE SA
       1.625%, 02/10/2017 26,005,000 26,216,369
       4.500%, 03/15/2025 (S) 17,505,000 17,814,874
       5.700%, 10/22/2023 (S) 22,445,000 24,822,913
Capital One Bank USA NA
       1.300%, 06/05/2017 10,440,000 10,378,728
       2.300%, 06/05/2019 27,277,000 27,328,717
Capital One Financial Corp.
       2.450%, 04/24/2019 16,380,000 16,574,791
Citigroup, Inc.
       4.500%, 01/14/2022 19,730,000 21,782,354
CNA Financial Corp.
       7.250%, 11/15/2023 15,303,000 19,041,829
Credit Agricole SA
       4.375%, 03/17/2025 (S) 14,955,000 15,121,778
Credit Agricole SA (8.125% to 09/19/2018,
       then 5 Year U.S. Swap Rate + 6.283%)
       09/19/2033 (S) 11,835,000 13,447,519
Crown Castle Towers LLC
       4.883%, 08/15/2020 (S) 25,984,000 28,530,536
       6.113%, 01/15/2020 (S) 19,377,000 22,104,371
Discover Bank
       8.700%, 11/18/2019 16,975,000 20,907,717
Discover Financial Services
       3.950%, 11/06/2024 13,890,000 14,284,573
       5.200%, 04/27/2022 15,235,000 16,963,715
Doric Nimrod Air Alpha 2013-1 Class A Pass
       Through Trust
       5.250%, 05/30/2023 (S) 14,626,724 15,577,461
Doric Nimrod Air Alpha 2013-1 Class B Pass
       Through Trust
       6.125%, 11/30/2019 (S) 8,875,312 9,363,454
Doric Nimrod Air Finance Alpha, Ltd. 2012-1
       Class A Pass Through Trust
       5.125%, 11/30/2022 (S) 12,831,568 13,611,407
Education Realty Operating Partnership LP
       4.600%, 12/01/2024 10,005,000 10,408,392
EPR Properties
       4.500%, 04/01/2025 14,435,000 14,675,025
Fifth Third Bank
       2.375%, 04/25/2019 2,628,000 2,666,261
FS Investment Corp.
       4.000%, 07/15/2019 16,320,000 16,581,805
General Electric Capital Corp.
       0.737%, 08/15/2036 (P) 9,945,000 8,635,214
       4.375%, 09/16/2020 7,980,000 8,858,646
       5.550%, 05/04/2020 26,697,000 31,048,664
Goodman Funding Pty, Ltd.
       6.375%, 04/15/2021 (S) 17,700,000 20,762,684
HBOS PLC
       6.000%, 11/01/2033 (S) 6,730,000 7,953,319
       6.750%, 05/21/2018 (S) 31,463,000 35,196,525
HCP, Inc.
       5.625%, 05/01/2017 15,125,000 16,410,489
Health Care REIT, Inc.
       4.125%, 04/01/2019 11,080,000 11,886,624
       4.950%, 01/15/2021 7,335,000 8,147,447
Highwoods Realty LP
       5.850%, 03/15/2017 22,850,000 24,653,002
Host Hotels & Resorts LP
       5.875%, 06/15/2019 12,679,000 13,157,975

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Bond Trust (continued)

Shares or
Principal
Amount       Value
CORPORATE BONDS (continued)
Financials (continued)
HSBC Holdings PLC (6.375% to 09/17/2024,
       then 5 Year U.S. ISDAFIX + 3.705%)  
       09/17/2024 (Q) $ 7,190,000 $ 7,342,788
ICICI Bank, Ltd.
       4.700%, 02/21/2018 (S) 8,850,000 9,387,416
       5.750%, 11/16/2020 (S) 9,890,000 11,228,977
ING Bank NV
       5.800%, 09/25/2023 (S) 18,415,000 20,847,971
Jefferies Group LLC
       6.875%, 04/15/2021 15,325,000 17,325,066
       8.500%, 07/15/2019 8,390,000 10,034,524
JPMorgan Chase & Co.
       4.250%, 10/15/2020 22,385,000 24,410,686
       4.625%, 05/10/2021 36,270,000 40,410,873
JPMorgan Chase & Co. (6.750% to
       02/01/2024, then 3 month LIBOR + 3.780%)
       02/01/2024 (Q) 25,790,000 27,982,150
JPMorgan Chase & Co. (7.900% to
       04/30/2018, then 3 month LIBOR + 3.470%)
       04/30/2018 (Q) 19,865,000 21,379,706
Leucadia National Corp.
       5.500%, 10/18/2023 19,450,000 20,064,990
Manufacturers & Traders Trust Company
       (5.629% to 12-1-16, then 3 month
       LIBOR + 6.400%)
       12/01/2021 23,610,000 24,518,985
MetLife, Inc.
       6.400%, 12/15/2036 9,445,000 11,192,325
Mizuho Financial Group Cayman 3, Ltd.
       4.600%, 03/27/2024 (S) 12,950,000 13,905,529
Morgan Stanley
       4.100%, 05/22/2023 29,330,000 30,524,054
       4.300%, 01/27/2045 9,085,000 9,415,258
       5.500%, 01/26/2020 19,440,000 22,138,525
       5.550%, 04/27/2017 11,620,000 12,569,761
       7.300%, 05/13/2019 31,030,000 37,121,685
MUFG Union Bank NA
       2.625%, 09/26/2018 27,780,000 28,554,229
Nippon Life Insurance Company (5.000% to
       10/18/2022, then 3 month LIBOR + 4.240%)
       10/18/2042 (S) 9,535,000 10,250,125
Nippon Life Insurance Company (5.100% to
       10/16/2024, then 5 Year
       U.S. ISDAFIX + 3.650%)
       10/16/2044 (S)   13,980,000 15,150,825
Nordea Bank AB
       1.625%, 05/15/2018 (S) 12,960,000 12,966,143
Omega Healthcare Investors, Inc.
       4.500%, 01/15/2025 (S) 10,235,000 10,302,551
       4.950%, 04/01/2024 10,275,000 10,825,740
Pacific LifeCorp.
       6.000%, 02/10/2020 (S) 9,093,000 10,400,301
Prudential Financial, Inc. (5.200% to
       03/15/2024, then 3 month LIBOR + 3.040%)
       03/15/2044 3,115,000 3,171,070
Prudential Financial, Inc. (5.875% to
       09/15/2022, then 3 month LIBOR + 4.175%)
       09/15/2042 19,670,000 21,366,538
Qwest Corp.
       6.750%, 12/01/2021 27,530,000 31,556,263
Rabobank Nederland NV
       3.875%, 02/08/2022 33,770,000 36,342,835
Rabobank Nederland NV (11.000% to
       06/30/2019, then 3 month
       LIBOR + 10.868%)    
       06/30/2019 (Q)(S) 17,349,000   22,336,838
Santander Holdings USA, Inc.  
       3.450%, 08/27/2018 11,565,000 12,059,172
Stifel Financial Corp.
       4.250%, 07/18/2024 11,940,000 12,188,292
Sumitomo Mitsui Banking Corp.
       2.450%, 01/10/2019 19,695,000 20,008,210
SunTrust Bank
       7.250%, 03/15/2018 10,935,000 12,652,593
SunTrust Banks, Inc.
       3.500%, 01/20/2017 13,088,000 13,623,077
Swedbank AB
       2.125%, 09/29/2017 (S) 19,320,000 19,612,601
       2.200%, 03/04/2020 (S) 21,175,000 21,271,410
Teachers Insurance & Annuity Association of
       America
       6.850%, 12/16/2039 (S) 21,405,000 29,831,292
The Bear Stearns Companies LLC
       7.250%, 02/01/2018 325,000 374,108
The Goldman Sachs Group, Inc.
       5.250%, 07/27/2021 46,290,000 52,641,682
       5.750%, 01/24/2022 6,724,000 7,849,315
       6.250%, 09/01/2017 23,886,000 26,483,268
The Hartford Financial Services Group, Inc.
       5.375%, 03/15/2017 14,640,000 15,716,757
The PNC Financial Services Group, Inc.
       4.481%, 04/27/2015 (P)(Q) 7,340,000 7,354,680
The PNC Financial Services Group, Inc.
       (4.850% to 06/01/2023, then 3 month
       LIBOR + 3.040%)
       06/01/2023 (L)(Q) 10,400,000 10,140,000
The PNC Financial Services Group, Inc.
       (6.750% to 08/01/2021, then 3 month
       LIBOR + 3.678%)
       08/01/2021 (Q) 5,480,000 6,096,500
USB Realty Corp.
       1.400%, 01/15/2017 (P)(Q)(S) 665,000 605,150
Ventas Realty LP
       3.750%, 05/01/2024 6,510,000 6,687,827
       4.750%, 06/01/2021 16,708,000 18,445,214
Wells Fargo & Company (5.875% to
       06/15/2025, then 3 month LIBOR + 3.990%)
       06/15/2025 (Q) 12,310,000 13,020,287
Wells Fargo & Company (5.900% to
       06/15/2024, then 3 month LIBOR + 3.110%)
       06/15/2024 (Q) 25,060,000 26,093,725
Wells Fargo & Company, Series K (7.980% to
       03/15/2018, then 3 month LIBOR + 3.770%)
       03/15/2018 (Q) 27,503,000 30,115,785
Wells Fargo Bank NA
       5.850%, 02/01/2037 11,865,000 15,309,326
XLIT, Ltd.
       4.450%, 03/31/2025 4,520,000 4,549,253
1,851,771,830
Health care - 1.4%
Actavis Funding SCS
       3.800%, 03/15/2025 11,090,000 11,435,964
Aetna, Inc.
       1.500%, 11/15/2017 28,955,000 29,089,757

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Bond Trust (continued)

Shares or
Principal
Amount       Value
CORPORATE BONDS (continued)
Health care (continued)
Express Scripts Holding Company
       2.650%, 02/15/2017 $ 14,430,000 $ 14,779,177
Medco Health Solutions, Inc.
       7.125%, 03/15/2018 17,850,000   20,572,785
Medtronic, Inc.
       4.625%, 03/15/2045 (S) 16,075,000 18,222,765
Mylan, Inc.
       1.350%, 11/29/2016 21,445,000 21,414,805
       7.875%, 07/15/2020 (S) 16,675,000 17,617,321
Zimmer Holdings, Inc.
       3.550%, 04/01/2025 16,160,000 16,481,681
      149,614,255
Industrials - 3.6%
Air Lease Corp.
       3.375%, 01/15/2019 (L) 13,815,000 14,091,300
       3.875%, 04/01/2021 8,055,000   8,296,650
       4.750%, 03/01/2020 6,835,000 7,339,081
       5.625%, 04/01/2017 5,610,000 5,995,688
America West Airlines 2000-1 Pass
       Through Trust
       8.057%, 07/02/2020 1,810,532 2,064,007
American Airlines 2013-1 Class A Pass
       Through Trust
       4.000%, 07/15/2025 6,720,368 6,989,183
American Airlines 2013-2 Class A Pass
       Through Trust
       4.950%, 01/15/2023 14,360,363 15,724,597
American Airlines 2015-1 Class A Pass
       Through Trust
       3.375%, 05/01/2027 35,430,000 35,695,725
British Airways PLC 2013-1 Class A Pass
       Through Trust
       4.625%, 06/20/2024 (S) 25,527,012 27,505,356
British Airways PLC 2013-1 Class B Pass
       Through Trust
       5.625%, 06/20/2020 (S) 8,582,510 9,140,374
Continental Airlines 1997-4 Class A Pass
       Through Trust
       6.900%, 01/02/2018 3,430,644 3,582,622
Continental Airlines 1998-1 Class A Pass
       Through Trust
       6.648%, 09/15/2017 1,190,980 1,241,597
Continental Airlines 1999-1 Class A Pass
       Through Trust
       6.545%, 02/02/2019 3,725,211 4,085,812
Continental Airlines 2007-1 Class A Pass
       Through Trust
       5.983%, 04/19/2022 13,308,627 14,988,841
Delta Air Lines 2007-1 Class A Pass
       Through Trust
       6.821%, 08/10/2022 19,414,792 22,789,083
Delta Air Lines 2010-1 Class A Pass
       Through Trust
       6.200%, 07/02/2018 2,223,497 2,445,846
Delta Air Lines 2011-1 Class A Pass
       Through Trust
       5.300%, 04/15/2019 6,688,719 7,273,982
Embraer Overseas, Ltd.
       5.696%, 09/16/2023 (S) 8,603,000 9,193,596
International Lease Finance Corp.
       7.125%, 09/01/2018 (S) 9,460,000 10,618,850
Lockheed Martin Corp.
       2.900%, 03/01/2025 22,327,000 22,572,709
Northwest Airlines 2007-1 Class A Pass  
       Through Trust
       7.027%, 11/01/2019 58,540 67,865
Odebrecht Finance, Ltd.
       7.125%, 06/26/2042 (S) 13,620,000 11,321,625
       7.500%, 09/14/2015 (Q)(S) 5,620,000 4,664,600
Penske Truck Leasing Company LP  
       2.875%, 07/17/2018 (S) 12,205,000 12,481,944
       3.375%, 02/01/2022 (S) 23,555,000 23,547,745
Ryder System, Inc.
       3.500%, 06/01/2017 16,272,000 16,990,848
Textron, Inc.
       3.875%, 03/01/2025 6,855,000   7,081,551
       5.600%, 12/01/2017 7,729,000 8,431,589
       7.250%, 10/01/2019 8,640,000 10,264,873
Trinity Industries, Inc.
       4.550%, 10/01/2024 14,850,000 14,929,314
UAL 2009-2A Pass Through Trust
       9.750%, 01/15/2017 5,791,133 6,428,158
United Airlines 2014-2 Class A Pass
       Through Trust
       3.750%, 09/03/2026 16,470,000 17,169,975
US Airways 2010-1 Class A Pass
       Through Trust
       6.250%, 04/22/2023 3,719,283 4,221,387
US Airways 2012-1 Class A Pass
       Through Trust
       5.900%, 10/01/2024 6,439,061 7,356,627
  376,593,000
Information technology - 0.3%
Xerox Corp.
       3.800%, 05/15/2024 16,900,000 17,095,465
       6.750%, 02/01/2017 9,514,000 10,403,854
27,499,319
Materials - 1.0%
Braskem Finance, Ltd.
       7.000%, 05/07/2020 (S) 17,090,000 17,260,900
Glencore Finance Canada, Ltd.
       3.600%, 01/15/2017 (S) 20,580,000 21,214,029
       4.250%, 10/25/2022 (S) 9,075,000 9,329,236
Glencore Funding LLC
       4.125%, 05/30/2023 (S) 15,655,000 15,942,942
Incitec Pivot Finance LLC
       6.000%, 12/10/2019 (S) 9,460,000 10,633,844
MMC Norilsk Nickel OJSC
       5.550%, 10/28/2020 (S) 6,545,000 6,267,688
Rockwood Specialties Group, Inc.
       4.625%, 10/15/2020 19,100,000 19,887,875
100,536,514
Telecommunication services - 1.2%
GTP Acquisition Partners I LLC
       2.364%, 05/15/2018 (S) 14,540,000 14,497,732
SBA Tower Trust
       2.933%, 12/15/2017 (S) 15,630,000 15,815,716
       3.598%, 04/15/2018 (S) 10,620,000 10,617,005
       5.101%, 04/17/2017 (S) 12,363,000 12,929,844
Telecom Italia Capital SA
       6.999%, 06/04/2018 7,630,000 8,493,144
       7.200%, 07/18/2036 8,275,000 9,330,063
Telefonica Emisiones SAU
       6.421%, 06/20/2016 19,190,000 20,388,281

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Bond Trust (continued)

Shares or
Principal
Amount       Value
CORPORATE BONDS (continued)
Telecommunication services (continued)
Verizon Communications, Inc.
       4.400%, 11/01/2034 $  10,050,000 $ 10,238,427
       5.012%, 08/21/2054 10,386,000 10,777,750
       6.550%, 09/15/2043 9,921,000 12,882,210
125,970,172
Utilities - 1.5%
Beaver Valley II Funding Corp.
       9.000%, 06/01/2017 1,241,000 1,340,280
Commonwealth Edison Company
       2.150%, 01/15/2019 9,930,000 10,145,491
Connecticut Light & Power Company
       4.300%, 04/15/2044 8,000,000 8,968,424
Constellation Energy Group, Inc.
       5.150%, 12/01/2020 11,220,000 12,673,798
Electricite de France SA (5.250% to
       01/29/2023, then 10 Year U.S. Swap
       Rate + 3.709%)
       01/29/2023 (Q)(S) 19,320,000 20,160,420
Entergy Texas, Inc.
       7.125%, 02/01/2019 20,650,000 24,566,851
Integrys Energy Group, Inc. (6.110% to
       12/01/2016, then 3 month LIBOR + 2.120%)
       12/01/2066 19,230,000 18,845,400
NextEra Energy Capital Holdings, Inc.
       2.400%, 09/15/2019 9,760,000 9,874,475
NextEra Energy Capital Holdings, Inc.
       (6.650% to 06/15/2017, then 3 month
       LIBOR + 2.125%)
       06/15/2067 3,775,000 3,756,125
Oncor Electric Delivery Company LLC
       2.950%, 04/01/2025 (S) 14,420,000 14,557,913
       5.000%, 09/30/2017 5,900,000 6,440,475
PNPP II Funding Corp.
       9.120%, 05/30/2016 203,000 207,854
Southern California Edison Company (6.250%
       to 02/01/2022, then 3 month
       LIBOR + 4.199%)
       02/01/2022 (Q) 8,285,000 9,279,200
W3A Funding Corp.
       8.090%, 01/02/2017 54,488 54,485
Wisconsin Energy Corp. (6.250% to
       05/15/2017, then 3 month LIBOR + 2.113%)
       05/15/2067 16,045,000 16,076,769
156,947,960
TOTAL CORPORATE BONDS (Cost $3,560,070,967) $ 3,600,068,517
           
CAPITAL PREFERRED SECURITIES - 0.7%
Financials - 0.7%
MetLife Capital Trust IV (7.875% to
       12/15/2032, then 3 month LIBOR + 3.960%)  
       12/15/2037 (S) 3,265,000 4,326,125
MetLife Capital Trust X
       9.250%, 04/08/2038 (S) 10,535,000 15,683,981
State Street Capital Trust IV
       1.270%, 06/15/2037 (P) 20,815,000 17,588,675
ZFS Finance USA Trust II (6.450% to
       06/15/2016, then 3 month LIBOR + 2.000%)
       12/15/2065 (S) 27,245,000 28,607,250
ZFS Finance USA Trust V (6.500% to
       05/09/2017, then 3 month LIBOR + 2.285%)
       05/09/2037 (S) 7,350,000 7,735,875
    73,941,906
TOTAL CAPITAL PREFERRED
SECURITIES (Cost $70,236,177) $ 73,941,906
           
COLLATERALIZED MORTGAGE
OBLIGATIONS - 2.0%
Commercial and residential - 0.1%
BBCMS Trust, Series 2015-SLP, Class C
       2.175%, 02/15/2028 (P)(S) 8,055,000 8,055,000
Commercial Mortgage Pass Through
       Certificates, Series 2013-CR13, Class C
       4.755%, 12/10/2023 (P) 10,000 10,836
Wachovia Bank Commercial Mortgage Trust,
       Series 2007-C31, Class AM
       5.591%, 04/15/2047 (P) 200,000 213,516
Wells Fargo Commercial Mortgage Trust,
       Series 2014-LC18, Class A2
       2.954%, 12/15/2047 4,810,000 5,016,551
U.S. Government Agency - 1.9%
Federal Home Loan Mortgage Corp.
       Series 288, Class IO, 3.000%, 10/15/2027 2,195,688 234,807
       Series 290, Class IO, 3.500%, 11/15/2032 2,552,796 453,074
       Series 3609, Class LI IO,
              4.500%, 12/15/2024 8,069,996 475,809
       Series 3699, Class MI IO,
              4.500%, 01/15/2038 14,857,163 871,101
       Series 3714, Class KI IO,
              4.500%, 11/15/2039 10,683,420 1,348,102
       Series 3738, Class IC IO,
              4.000%, 08/15/2029 4,910,579 303,849
       Series 3738, Class MI IO,
              4.000%, 09/15/2034 7,401,279 137,932
       Series 3747, Class HI IO,
              4.500%, 07/15/2037 40,005,136 2,657,269
       Series 3830, Class NI IO,
              4.500%, 01/15/2036 1,502,851 125,468
       Series 3833, Class LI IO,
              1.765%, 10/15/2040 62,318,122 5,503,226
       Series 3927, Class IP IO,
              4.500%, 06/15/2040 12,718,491 1,429,523
       Series 3934, Class PI IO,
              4.500%, 07/15/2041 19,270,133 2,235,651
       Series 3943, Class DI IO,
              4.000%, 11/15/2039 31,149,753 3,869,715
       Series 3972, Class PL IO,
              3.500%, 11/15/2031 9,511,644 1,071,003
       Series 4030, Class BI IO,
              5.000%, 01/15/2042 14,629,440 2,416,732
       Series 4077, Class IK IO,
              5.000%, 07/15/2042 21,477,774 4,564,461
       Series 4136, Class IH IO,
              3.500%, 09/15/2027 1,833,641 221,748
       Series K017, Class X1 IO,
              1.429%, 12/25/2021 107,140,916 8,226,387
       Series K018, Class X1 IO,
              1.439%, 01/25/2022 116,992,442 9,049,131
       Series K021, Class X1 IO,
              1.501%, 06/25/2022 24,143,630 2,098,685

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (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 Home Loan Mortgage Corp. (continued)
       Series K022, Class X1 IO,
              1.297%, 07/25/2022 $ 316,278,005 $ 23,432,089
       Series K026, Class X1 IO,  
              1.047%, 11/25/2022 172,731,482 11,125,117
       Series K038, Class X1 IO,
              1.200%, 03/25/2024 252,725,875 21,623,984
       Series K707, Class X1 IO,
              1.547%, 12/25/2018 122,195,227 6,093,998
       Series K709, Class X1 IO,  
              1.535%, 03/25/2019 96,772,655 5,095,177
       Series K710, Class X1 IO,
              1.777%, 05/25/2019 132,721,085 8,290,290
       Series K711, Class X1 IO,
              1.705%, 07/25/2019 67,549,814 4,104,800
Federal National Mortgage Association
       Series 2010-13, Class KI IO,
              5.000%, 12/25/2018 3,390,417 194,260
       Series 2010-14, Class IA IO,
              4.000%, 08/25/2027 330,994 817
       Series 2010-45, Class AI IO,
              5.000%, 02/25/2021 7,622,833 510,099
       Series 2010-68, Class CI IO,
              5.000%, 11/25/2038 14,224,019 1,639,985
       Series 2010-93, Class AI IO,
              4.000%, 08/25/2020 3,299,016 213,969
       Series 2011-73, Class PI IO,
              4.500%, 05/25/2041 9,670,437 1,213,322
       Series 2012-118, Class IB IO,
              3.500%, 11/25/2042 39,392,295 7,689,199
       Series 2012-118, Class IC IO,
              3.500%, 11/25/2042 38,407,243 7,759,262
       Series 2012-137, Class WI IO,
              3.500%, 12/25/2032 1,535,662 259,878
       Series 2012-21, Class IQ IO,
              4.500%, 09/25/2041 32,426,237 5,862,294
       Series 2012-61, Class KI IO,
              4.000%, 12/25/2041 23,469,363 3,811,389
       Series 366, Class 24 IO,
              5.000%, 10/25/2035 3,565,153 244,277
       Series 402, Class 3 IO, 4.000%, 11/25/2039 15,174,708 2,556,202
       Series 402, Class 4 IO, 4.000%, 10/25/2039 5,480,719 845,142
       Series 402, Class 7 IO, 4.500%, 11/25/2039 7,365,660 1,208,027
       Series 402, Class 8 IO, 4.500%, 11/25/2039 7,257,824 1,324,118
       Series 407, Class 15 IO,
              5.000%, 01/25/2040 12,356,386 2,301,170
       Series 407, Class 21 IO,
              5.000%, 01/25/2039 5,769,965 1,046,533
       Series 407, Class 7 IO, 5.000%, 03/25/2041 10,554,666 2,013,713
       Series 407, Class 8 IO, 5.000%, 03/25/2041 5,029,393 932,354
       Series 407, Class C6 IO,
              5.500%, 01/25/2040        22,194,591 4,354,078
       Series 408, Class C1 IO,
              4.000%, 12/25/2040 31,820,369 5,783,599
Government National Mortgage Association
       Series 2009-123, Class DI, IO,
              4.500%, 07/20/2037 3,818,596 205,933
       Series 2009-40, Class BI IO,
              4.500%, 09/20/2036 13,034,819 511,826
       Series 2012-114, Class IO,
              0.971%, 01/16/2053 54,045,504 4,340,989
       Series 2013-42, Class IO,
              3.500%, 03/20/2043 25,490,642 3,100,643
       Series 2013-6, Class AI IO,
              3.500%, 08/20/2039   58,317,504 8,043,284
  195,025,490
TOTAL COLLATERALIZED MORTGAGE
OBLIGATIONS (Cost $224,074,493) $  208,321,393
           
ASSET BACKED SECURITIES - 7.3%
Ally Auto Receivables Trust, Series 2014-2,
       Class A4 1.840%, 01/15/2020 27,360,000 27,641,398
Ally Master Owner Trust, Series 2012-4,
       Class A 1.720%, 07/15/2019 10,220,000 10,306,604
American Express Credit
       Account Master Trust
       Series 2014-1, Class A4,
              1.490%, 04/15/2020 27,810,000 28,027,641
       Series 2014-4, Class A, 1.430%, 06/15/2020 28,685,000 28,821,053
Bank of The West Auto Trust, Series 2014-1,
       Class A4 1.650%, 03/16/2020 (S) 16,380,000 16,487,436
Cabela’s Credit Card Master Note Trust
       Series 2013-2A, Class A1,
              2.170%, 08/16/2021 (S) 10,710,000 10,865,841
       Series 2015-1A, Class A1,
              2.260%, 03/15/2023 3,135,000 3,169,739
California Republic Auto Receivables Trust,
       Series 2014-4, Class A4
       1.840%, 06/15/2020 12,800,000 12,894,054
Capital One Multi-Asset Execution Trust
       Series 2007-A7, Class A7,
              5.750%, 07/15/2020 12,480,000 13,837,175
       Series 2014-A5, Class A,
              1.480%, 07/15/2020 45,700,000 46,028,492
CarMax Auto Owner Trust, Series 2014-3,
       Class A3 1.160%, 06/17/2019 24,615,000 24,649,535
Chase Issuance Trust
       Series 2014-A6, Class A,
              1.260%, 07/15/2019 20,599,000 20,636,902
       Series 2014-A7, Class A,
              1.380%, 11/15/2019 31,978,000 32,094,048
       Series 2015, Class A2A,
              1.590%, 02/18/2020 29,105,000 29,305,999
Chrysler Capital Auto Receivables Trust,
       Series 2014-BA, Class A4
       1.760%, 12/16/2019 (S) 10,310,000 10,412,203
Citibank Credit Card Issuance Trust
       Series 2007-A8, Class A8,
              5.650%, 09/20/2019 17,115,000 18,959,295
       Series 2014-A8, Class A8,
              1.730%, 04/09/2020 34,765,000 35,139,558
DB Master Finance LLC, Series 2015-1A,
       Class A2II 3.980%, 02/20/2045 (S) 33,355,000 34,062,726
Discover Card Execution Note Trust,
       Series 2014-A5, Class A
       1.390%, 04/15/2020 42,075,000 42,196,218
Ford Credit Auto Owner Trust, Series 2015,
       Class AA4 1.640%, 06/15/2020 13,420,000 13,494,884
Ford Credit Floorplan Master Owner Trust
       Series 2012-5, Class A, 1.490%, 09/15/2019 25,960,000 26,023,991

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Bond Trust (continued)

Shares or
Principal
Amount       Value
ASSET BACKED SECURITIES (continued)
Ford Credit Floorplan Master
Owner Trust (continued)
       Series 2014-4, Class A1,
              1.400%, 08/15/2019 $ 35,760,000 $ 35,845,896
       Series 2015-1, Class A1,  
              1.420%, 01/15/2020 29,125,000 29,120,981
GE Equipment Midticket LLC, Series 2014-1,  
       Class A4 1.590%, 08/22/2023 7,820,000 7,868,156
GM Financial Automobile Leasing Trust,
       Series 2015-1, Class A4  
       1.730%, 06/20/2019 7,740,000 7,799,304
Honda Auto Receivables Owner Trust
       Series 2014-3, Class A4,
              1.310%, 10/15/2020 42,515,000 42,599,222
       Series 2015-1, Class A4,
              1.320%, 11/16/2020 20,360,000 20,362,341
Hyundai Auto Receivables Trust,
       Series 2015-A, Class A4
       1.370%, 07/15/2020 19,100,000 19,063,443
John Deere Owner Trust
       Series 2014-B, Class A4,  
              1.500%, 06/15/2021 20,870,000 20,954,524
       Series 2015, Class AA4,
              1.650%, 12/15/2021 10,555,000 10,617,085
MVW Owner Trust, Series 2014-1A, Class A
       2.250%, 09/20/2031 (S) 6,680,491 6,690,171
Nissan Master Owner Trust Receivables Trust,
       Series 2015-A, Class A2
       1.440%, 01/15/2020 29,325,000 29,346,759
Porsche Innovative Lease Owner Trust,
       Series 2014-1, Class A4
       1.260%, 09/21/2020 (S) 16,320,000 16,367,687
Toyota Auto Receivables Owner Trust,
       Series 2014-C, Class A4
       1.440%, 04/15/2020 13,395,000 13,450,643
Volkswagen Credit Auto Master Trust,
       Series 2014-1A, Class A2
       1.400%, 07/22/2019 (S) 16,680,000 16,748,972
World Omni Automobile Lease
       Securitization Trust, Series 2014-A,
       Class A4 1.370%, 01/15/2020 6,555,000 6,598,820
TOTAL ASSET BACKED SECURITIES (Cost $765,484,243) $ 768,488,796
           
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 11,272,320
TOTAL PREFERRED SECURITIES (Cost $9,785,000) $ 11,272,320
         
SECURITIES LENDING COLLATERAL - 0.7%
John Hancock
       Collateral Trust, 0.1102% (W)(Y) 7,250,475 72,541,005
TOTAL SECURITIES LENDING
COLLATERAL (Cost $72,541,005) $ 72,541,005
 
SHORT-TERM INVESTMENTS - 0.7%
Repurchase agreement - 0.7%
Barclays Tri-Party Repurchase Agreement
       dated 03/31/2015 at 0.130% to be
       repurchased at $46,206,167 on 04/01/2015,
       collateralized by $4,445,600 U.S. Treasury
       Inflation Indexed Notes, 0.125% due
       04/15/2018 (valued at $4,580,733, including
       interest) and $36,044,700 U.S. Treasury
       Inflation Indexed Bonds, 1.375% due
       02/15/2044 (valued at $42,549,603,
       including interest) $46,206,000 46,206,000
Repurchase Agreement with State Street Corp.
       dated 03/31/2015 at 0.000% to be  
       repurchased at $30,600,000 on 04/01/2015,
       collateralized by $275,000 Federal Home
       Loan Mortgage Corp., 1.840% due
       09/18/2019 (valued at $276,375, including
       interest) and $28,050,000 U.S. Treasury
       Notes, 2.250% - 3.625% due 08/15/2019 -
       04/30/2021 (valued at $30,937,440,
       including interest) 30,600,000 30,600,000
76,806,000
TOTAL SHORT-TERM INVESTMENTS (Cost $76,806,000) $ 76,806,000
Total Investments (Bond Trust) (Cost $10,236,722,057) - 99.7% $ 10,453,295,960
Other assets and liabilities, net - 0.3% 27,632,458
TOTAL NET ASSETS - 100.0% $ 10,480,928,418

Capital Appreciation Trust
 
Shares or
Principal
Amount       Value
COMMON STOCKS - 99.5%
Consumer discretionary - 25.4%
Automobiles - 1.1%
Tesla Motors, Inc. (I)(L) 63,387 $ 11,965,561
Hotels, restaurants and leisure - 4.1%
Chipotle Mexican Grill, Inc. (I) 14,827 9,645,557
Marriott International, Inc., Class A 190,972 15,338,871
Starbucks Corp. 178,068 16,863,040
41,847,468
Internet and catalog retail - 7.1%
Amazon.com, Inc. (I) 77,714 28,917,379
Netflix, Inc. (I) 37,787 15,745,465
The Priceline Group, Inc. (I) 15,498 18,041,997
TripAdvisor, Inc. (I) 77,765 6,467,715
Vipshop Holdings, Ltd., ADR (I) 127,456 3,752,305
72,924,861
Media - 3.2%
The Walt Disney Company 215,649 22,619,424
Time Warner, Inc. 119,242 10,068,794
32,688,218
Specialty retail - 5.0%
Inditex SA 533,721 17,135,469
O’Reilly Automotive, Inc. (I) 61,789 13,361,253
The TJX Companies, Inc. 160,172 11,220,049

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Capital Appreciation Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Specialty retail (continued)
Tiffany & Company 109,866 $ 9,669,307
  51,386,078
Textiles, apparel and luxury goods - 4.9%
Luxottica Group SpA 180,816 11,452,105
NIKE, Inc., Class B 255,176   25,601,808
Under Armour, Inc., Class A (I) 168,295 13,589,821
50,643,734
261,455,920
Consumer staples - 4.6%
Beverages - 0.1%
Monster Beverage Corp. (I) 3,502 484,659
Food and staples retailing - 2.9%
Costco Wholesale Corp. 128,540 19,473,167
The Kroger Company 139,958 10,729,180
30,202,347
Food products - 1.6%
Mead Johnson Nutrition Company 78,430 7,884,568
Mondelez International, Inc., Class A 238,001 8,589,456
16,474,024
47,161,030
Energy - 3.2%
Energy equipment and services - 1.0%
Schlumberger, Ltd. 122,840 10,249,770
Oil, gas and consumable fuels - 2.2%
Concho Resources, Inc. (I) 106,295 12,321,716
EOG Resources, Inc. 111,728 10,244,340
22,566,056
32,815,826
Financials - 3.3%
Capital markets - 1.0%
Morgan Stanley 297,545 10,619,381
Diversified financial services - 1.1%
McGraw-Hill Financial, Inc. 107,594 11,125,220
Real estate investment trusts - 1.2%
American Tower Corp. 127,483 12,002,524
33,747,125
Health care - 19.8%
Biotechnology - 8.4%
Alexion Pharmaceuticals, Inc. (I) 73,526 12,742,056
Biogen, Inc. (I) 66,106 27,912,597
Celgene Corp. (I) 170,600 19,666,768
Gilead Sciences, Inc. (I) 131,062 12,861,114
Incyte Corp. (I) 34,103 3,125,881
Vertex Pharmaceuticals, Inc. (I) 85,044 10,032,641
86,341,057
Health care equipment and supplies - 1.7%
Abbott Laboratories 379,728 17,592,798
Life sciences tools and services - 1.5%
Illumina, Inc. (I) 85,046 15,787,939
Pharmaceuticals - 8.2%
Actavis PLC (I) 79,877 23,772,993
Bristol-Myers Squibb Company 355,937 22,957,937
Novo Nordisk A/S, ADR (L) 391,163 20,884,193
Shire PLC, ADR 66,898   16,008,022
83,623,145
203,344,939
Industrials - 4.3%
Aerospace and defense - 1.9%
The Boeing Company 133,219 19,993,508
Road and rail - 2.4%  
Canadian Pacific Railway, Ltd. 63,568 11,613,874
Union Pacific Corp. 119,986 12,995,684
24,609,558
44,603,066
Information technology - 36.9%
Internet software and services - 13.6%
Alibaba Group Holding, Ltd., ADR (I) 215,669 17,952,288
Facebook, Inc., Class A (I) 457,911 37,647,153
Google, Inc., Class A (I) 27,915 15,484,451
Google, Inc., Class C (I) 31,083 17,033,484
LendingClub Corp. (I)(L) 44,318 870,849
LinkedIn Corp., Class A (I) 78,721 19,669,229
Tencent Holdings, Ltd. 863,081 16,389,825
Twitter, Inc. (I) 286,526 14,349,222
139,396,501
IT services - 7.1%
FleetCor Technologies, Inc. (I) 84,405 12,738,403
MasterCard, Inc., Class A 405,435 35,025,530
Visa, Inc., Class A 384,920 25,177,617
72,941,550
Semiconductors and semiconductor equipment - 1.9%
ARM Holdings PLC, ADR 275,594 13,586,784
NXP Semiconductors NV (I) 63,095 6,332,214
19,918,998
Software - 8.4%
Adobe Systems, Inc. (I) 230,984 17,078,957
FireEye, Inc. (I)(L) 140,742 5,524,124
Red Hat, Inc. (I) 206,041 15,607,606
salesforce.com, Inc. (I) 311,171 20,789,335
Splunk, Inc. (I) 164,752 9,753,318
VMware, Inc., Class A (I) 80,002 6,560,964
Workday, Inc., Class A (I) 131,545 11,103,713
86,418,017
Technology hardware, storage and peripherals - 5.9%
Apple, Inc. 483,228 60,128,060
378,803,126
Materials - 2.0%
Chemicals - 2.0%
Monsanto Company 135,928 15,297,337
The Sherwin-Williams Company 16,995 4,835,078
20,132,415
20,132,415
TOTAL COMMON STOCKS (Cost $694,552,443) $ 1,022,063,447

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Capital Appreciation Trust (continued)

Shares or
Principal
Amount       Value
SECURITIES LENDING COLLATERAL - 2.8%
John Hancock
       Collateral Trust, 0.1102% (W)(Y) 2,910,303 29,117,586  
TOTAL SECURITIES LENDING
COLLATERAL (Cost $29,117,764) $ 29,117,586
SHORT-TERM INVESTMENTS - 0.5%
Repurchase agreement - 0.5%
Repurchase Agreement with State Street Corp.
       dated 03/31/2015 at 0.000% to be
       repurchased at $5,086,000 on 04/01/2015,
       collateralized by $4,705,000 U.S. Treasury
       Notes, 3.625% due 08/15/2019 (valued at
       $5,193,379, including interest) $ 5,086,000 $ 5,086,000
TOTAL SHORT-TERM INVESTMENTS (Cost $5,086,000) $ 5,086,000
Total Investments (Capital Appreciation Trust)
       (Cost $728,756,207) - 102.8% $ 1,056,267,033
Other assets and liabilities, net - (2.8%) (28,686,324 )
TOTAL NET ASSETS - 100.0% $ 1,027,580,709

Capital Appreciation Value Trust

Shares or      
Principal
Amount Value
COMMON STOCKS - 58.7%
Consumer discretionary - 7.7%  
Auto components - 1.6%
Delphi Automotive PLC 18,300 $ 1,459,233
Johnson Controls, Inc. 90,300 4,554,732
6,013,965
Media - 2.3%
Comcast Corp., Class A 41,400 2,337,858
Liberty Global PLC, Series A (I) 17,300 890,431
Liberty Global PLC, Series C (I) 67,300 3,352,213
Time Warner Cable, Inc. 6,400 959,232
Twenty-First Century Fox, Inc., Class B 32,900 1,081,752
8,621,486
Specialty retail - 3.8%
AutoZone, Inc. (I) 15,100 10,300,616
Lowe’s Companies, Inc. 44,800 3,332,672
O’Reilly Automotive, Inc. (I) 2,800 605,472
14,238,760
28,874,211
Consumer staples - 2.8%
Beverages - 0.9%
PepsiCo, Inc. 28,000 2,677,360
SABMiller PLC 11,040 578,295
3,255,655
Food and staples retailing - 0.8%
CVS Health Corp. 17,400 1,795,854
Wal-Mart Stores, Inc. 12,500 1,028,125
2,823,979
Food products - 0.8%
Kraft Foods Group, Inc. 4,300 374,595
Mondelez International, Inc., Class A 76,700 2,768,103
3,142,698
Tobacco - 0.3%  
Philip Morris International, Inc. 17,200   1,295,676
10,518,008
Energy - 2.1%
Oil, gas and consumable fuels - 2.1%
Canadian Natural Resources, Ltd. 224,200 6,885,182
Range Resources Corp. 18,518 963,677
7,848,859
7,848,859
Financials - 9.4%
Banks - 1.0%
JPMorgan Chase & Co. 62,100 3,762,018
Capital markets - 3.6%
Affiliated Managers Group, Inc. (I) 1,100 236,258
Invesco, Ltd. 8,500 337,365
Julius Baer Group, Ltd. (I) 21,488 1,074,052
State Street Corp. 17,900 1,316,187
The Bank of New York Mellon Corp. 257,400 10,357,776
13,321,638
Insurance - 3.3%
Marsh & McLennan Companies, Inc. 220,600 12,373,454
Real estate investment trusts - 1.5%
American Tower Corp. 16,800 1,581,720
Crown Castle International Corp. 29,700 2,451,438
Iron Mountain, Inc. 47,880 1,746,662
5,779,820
35,236,930
Health care - 14.1%
Health care equipment and supplies - 2.8%
Abbott Laboratories 84,700 3,924,151
Becton, Dickinson and Company 44,312 6,362,760
10,286,911
Health care providers and services - 2.1%
Cigna Corp. 32,000 4,142,080
Henry Schein, Inc. (I) 4,657 650,210
UnitedHealth Group, Inc. 27,300 3,229,317
8,021,607
Life sciences tools and services - 3.6%
Agilent Technologies, Inc. 49,800 2,069,190
PerkinElmer, Inc. 14,300 731,302
Thermo Fisher Scientific, Inc. 80,100 10,760,634
13,561,126
Pharmaceuticals - 5.6%
Actavis PLC (I) 28,680 8,535,742
Eli Lilly & Company 68,200 4,954,730
Endo International PLC (I) 7,300 654,810
Pfizer, Inc. 82,084 2,855,702
Zoetis, Inc. 84,591 3,915,717
20,916,701
52,786,345
Industrials - 11.8%
Aerospace and defense - 1.1%
The Boeing Company 18,900 2,836,512
United Technologies Corp. 11,900 1,394,680
4,231,192

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Capital Appreciation Value Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Commercial services and supplies - 1.6%  
Tyco International, Ltd. 139,500 $ 6,006,870
Electrical equipment - 1.6%
AMETEK, Inc. 95,300 5,007,062
Sensata Technologies Holding NV (I) 18,800 1,080,060
6,087,122
Industrial conglomerates - 5.3%
Danaher Corp. 189,300 16,071,570
Roper Industries, Inc. 20,700 3,560,400
19,631,970
Machinery - 2.2%  
IDEX Corp. 27,400 2,077,742
Pentair PLC 98,500 6,194,665
8,272,407
44,229,561
Information technology - 7.3%
Communications equipment - 0.2%
Cisco Systems, Inc. 26,000 715,650
Internet software and services - 1.4%
eBay, Inc. (I) 18,800 1,084,384
Google, Inc., Class A (I) 2,800 1,553,160
Google, Inc., Class C (I) 4,600 2,520,800
5,158,344
IT services - 5.4%
Fidelity National Information Services, Inc. 67,300 4,580,438
Fiserv, Inc. (I) 134,400 10,671,360
Vantiv, Inc., Class A (I) 17,900 674,830
Visa, Inc., Class A 69,200 4,526,372
20,453,000
Semiconductors and semiconductor equipment - 0.3%
Texas Instruments, Inc. 22,000 1,258,070
Software - 0.0%
SS&C Technologies Holdings, Inc. 800 49,840
27,634,904
Materials - 0.7%
Chemicals - 0.7%
Cytec Industries, Inc. 50,000 2,702,000
LyondellBasell Industries NV, Class A 2,000 175,600
2,877,600
2,877,600
Telecommunication services - 0.3%
Wireless telecommunication services - 0.3%
SBA Communications Corp., Class A (I) 9,500 1,112,450
Utilities - 2.5%
Electric utilities - 0.9%
FirstEnergy Corp. 93,900 3,292,134
Multi-utilities - 1.6%  
PG&E Corp. 113,100 6,002,217
9,294,351
TOTAL COMMON STOCKS (Cost $182,222,854) $ 220,413,219
 
PREFERRED SECURITIES - 2.5%
Energy - 0.0%  
Oil, gas and consumable fuels - 0.0%
Chesapeake Energy Corp., 4.500% 117 10,121
Financials - 0.8%  
Banks - 0.2%
U.S. Bancorp (6.000% to 04/15/2017, then
       3 month LIBOR + 4.861%) 15,000   409,650
U.S. Bancorp (6.500% to 01/15/2022, then
       3 month LIBOR + 4.468%) 14,000 415,940
825,590
Capital markets - 0.1%
State Street Corp., 6.000% 10,000 255,300
Real estate investment trusts - 0.5%
American Tower Corp., 5.500% 18,553 1,841,014
2,921,904
Health care - 1.2%
Pharmaceuticals - 1.2%
Actavis PLC, 5.500% (I) 4,398 4,450,776
Telecommunication services - 0.3%
Wireless telecommunication services - 0.3%
T-Mobile US, Inc., 5.500% 19,505 1,144,163
Utilities - 0.2%
Electric utilities - 0.2%
SCE Trust I, 5.625% 15,000 381,000
SCE Trust II, 5.100% 1,920 46,560
SCE Trust III (5.750% to 03/15/2024, then
       3 month LIBOR + 2.990%) 20,615 565,882
993,442
993,442
TOTAL PREFERRED SECURITIES (Cost $9,170,681) $ 9,520,406
 
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS - 1.5%  
U.S. Government - 1.5%
U.S. Treasury Notes
       0.875%, 10/15/2017 $ 3,500,000 $ 3,511,484
       1.750%, 09/30/2019 1,500,000 1,528,593
       2.750%, 11/15/2023 375,000 402,100
  5,442,177
TOTAL U.S. GOVERNMENT AND AGENCY
OBLIGATIONS (Cost $5,409,517) $ 5,442,177
  
CORPORATE BONDS - 19.5%
Consumer discretionary - 4.8%
Amazon.com, Inc.
       2.600%, 12/05/2019 $ 615,000 $ 629,937
       3.800%, 12/05/2024 605,000 635,850
CCO Holdings LLC
       7.375%, 06/01/2020 375,000 400,781
       8.125%, 04/30/2020 125,000 130,625
Cedar Fair LP
       5.250%, 03/15/2021 150,000 154,875
DISH DBS Corp.
       7.125%, 02/01/2016 425,000 441,469
Ford Motor Credit Company LLC
       0.783%, 09/08/2017 (P) 525,000 521,980
       0.833%, 12/06/2017 (P) 825,000 819,310
       0.898%, 03/27/2017 (P) 1,675,000 1,674,658
       1.192%, 01/09/2018 (P) 575,000 576,559
       1.461%, 03/27/2017 1,395,000 1,395,266
       1.506%, 05/09/2016 (P) 410,000 412,894
       1.724%, 12/06/2017 275,000 274,335

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Capital Appreciation Value Trust (continued)

Shares or
Principal
Amount       Value
CORPORATE BONDS (continued)
Consumer discretionary (continued)
Ford Motor Credit Company LLC (continued)
       2.145%, 01/09/2018 $ 360,000 $ 364,011
       2.375%, 03/12/2019   575,000 581,680
       2.500%, 01/15/2016 380,000 384,426
       2.597%, 11/04/2019 1,075,000 1,089,173
       2.750%, 05/15/2015 400,000 400,883
       6.625%, 08/15/2017 200,000 222,074
Group 1 Automotive, Inc.
       5.000%, 06/01/2022 (S) 25,000 25,063
L Brands, Inc.
       5.625%, 02/15/2022 to 10/15/2023 950,000 1,052,500
       6.625%, 04/01/2021 100,000 114,551
       6.900%, 07/15/2017 125,000 137,969
       7.000%, 05/01/2020 125,000 144,063
       8.500%, 06/15/2019 125,000 149,963
Lamar Media Corp.
       5.000%, 05/01/2023 125,000 127,813
Unitymedia Hessen GmbH & Company KG
       5.500%, 01/15/2023 (S) 500,000 523,150
Univision Communications, Inc.
       5.125%, 05/15/2023 (S) 725,000 735,875
       6.750%, 09/15/2022 (S) 1,474,000 1,580,865
       7.875%, 11/01/2020 (S) 1,100,000 1,174,250
       8.500%, 05/15/2021 (S) 400,000 427,500
Virgin Media Secured Finance PLC
       5.250%, 01/15/2026 (S) 200,000 204,000
       5.375%, 04/15/2021 (S) 400,000 419,500
17,927,848
Consumer staples - 0.3%
B&G Foods, Inc.
       4.625%, 06/01/2021 200,000 199,750
Rite Aid Corp.
       8.000%, 08/15/2020 800,000 847,000
1,046,750
Energy - 7.2%
Antero Resources Finance Corp.
       5.375%, 11/01/2021 475,000 460,750
       6.000%, 12/01/2020 175,000 175,088
Canadian Natural Resources, Ltd.
       1.750%, 01/15/2018 185,000 184,057
Chevron Corp.
       0.361%, 02/22/2017 (P) 1,150,000 1,151,964
       0.431%, 03/02/2018 (P) 1,225,000 1,224,973
       1.365%, 03/02/2018 590,000 592,784
Concho Resources, Inc.
       5.500%, 10/01/2022 to 04/01/2023 1,400,000 1,410,501
       6.500%, 01/15/2022 125,000 130,938
       7.000%, 01/15/2021 675,000 707,063
Energy Transfer Partners LP
       4.150%, 10/01/2020 275,000 288,699
       4.900%, 02/01/2024 345,000 369,684
EQT Corp.
       4.875%, 11/15/2021 1,570,000 1,652,219
       6.500%, 04/01/2018 315,000 351,605
       8.125%, 06/01/2019 483,000 577,003
Exxon Mobil Corp.
       0.313%, 03/01/2018 (P) 3,275,000 3,273,978
MarkWest Energy Partners LP
       4.500%, 07/15/2023 2,550,000 2,524,500
       4.875%, 12/01/2024 425,000 434,520
       5.500%, 02/15/2023 1,255,000 1,289,513
       6.250%, 06/15/2022 1,025,000 1,071,125
       6.500%, 08/15/2021 525,000 549,938
       6.750%, 11/01/2020 275,000 288,750
Noble Energy, Inc.
       3.900%, 11/15/2024 100,000 101,735
ONEOK Partners LP
       2.000%, 10/01/2017 140,000 139,588
Range Resources Corp.
       5.000%, 08/15/2022 to 03/15/2023 4,625,000 4,601,875
       5.750%, 06/01/2021 835,000 872,316
       6.750%, 08/01/2020 175,000 181,563
SM Energy Company
       6.500%, 11/15/2021 to 01/01/2023 575,000 584,750
Targa Resources Partners LP
       4.125%, 11/15/2019 (S) 150,000 149,250
       4.250%, 11/15/2023 525,000 505,313
       5.000%, 01/15/2018 (S) 125,000 128,750
       5.250%, 05/01/2023 750,000 753,750
WPX Energy, Inc.
       5.250%, 01/15/2017 275,000   276,375
  27,004,917
Financials - 1.5%
American Tower Corp.
       3.500%, 01/31/2023 100,000 99,124
       5.000%, 02/15/2024 165,000 180,427
Berkshire Hathaway Energy Company    
       2.400%, 02/01/2020 385,000 390,576
       3.500%, 02/01/2025 375,000 390,515
CBRE Services, Inc.
       5.000%, 03/15/2023 75,000 78,000
Crown Castle International Corp.
       4.875%, 04/15/2022 275,000 285,656
       5.250%, 01/15/2023 225,000 236,250
KFW
       0.500%, 04/19/2016 832,000 832,799
       2.500%, 11/20/2024 1,550,000 1,613,693
Marsh & McLennan Companies, Inc.
       2.350%, 03/06/2020 140,000 140,792
Toyota Motor Credit Corp.
       0.637%, 03/12/2020 (P) 1,225,000 1,223,803
5,471,635
Health care - 1.5%
Becton, Dickinson and Company
       1.800%, 12/15/2017 315,000 317,348
       2.675%, 12/15/2019 305,000 312,081
DaVita HealthCare Partners, Inc.
       5.125%, 07/15/2024 1,025,000 1,047,422
       5.750%, 08/15/2022 175,000 185,719
Eli Lilly & Company
       1.250%, 03/01/2018 310,000 310,978
Johnson & Johnson
       1.125%, 11/21/2017 170,000 170,902
       3.375%, 12/05/2023 320,000 343,252
Medtronic, Inc.
       1.500%, 03/15/2018 (S) 235,000 236,120
       2.500%, 03/15/2020 (S) 400,000 408,667
Merck & Company, Inc.
       0.380%, 02/10/2017 (P) 450,000 450,194
       0.630%, 02/10/2020 (P) 825,000 828,326
Novartis Capital Corp.
       3.400%, 05/06/2024 100,000 106,733

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Capital Appreciation Value Trust (continued)

Shares or
Principal
Amount       Value
CORPORATE BONDS (continued)
Health care (continued)
Omnicare, Inc.
       5.000%, 12/01/2024 $ 175,000 $ 182,875
Roche Holdings, Inc.
       3.350%, 09/30/2024 (S) 455,000   477,166
UnitedHealth Group, Inc.
       1.400%, 12/15/2017 230,000 231,815
5,609,598
Industrials - 1.3%
Case New Holland Industrial, Inc.
       7.875%, 12/01/2017 25,000 27,695
Caterpillar Financial Services Corp.
       0.700%, 11/06/2015 205,000 205,421
       1.250%, 11/06/2017 250,000 250,531
       2.250%, 12/01/2019 225,000 228,370
CNH Industrial Capital LLC
       3.625%, 04/15/2018 450,000 451,125
       3.875%, 11/01/2015 125,000 125,938
       6.250%, 11/01/2016 400,000 421,000
Continental Airlines 2009-1 Pass
       Through Trust
       9.000%, 07/08/2016 225,143 243,717
Continental Airlines 2009-2 Class A Pass
       Through Trust
       7.250%, 11/10/2019 135,564 156,915
Continental Airlines 2012-1 Class A Pass
       Through Trust
       4.150%, 04/11/2024 555,703 589,045
Delta Air Lines 2009-1 Class A Pass
       Through Trust
       7.750%, 12/17/2019 135,483 156,482
Delta Air Lines 2011-1 Class A Pass
       Through Trust
       5.300%, 04/15/2019 102,118 111,053
International Lease Finance Corp.
       2.220%, 06/15/2016 (P) 265,000 265,000
John Deere Capital Corp.
       0.700%, 09/04/2015 310,000 310,405
Schaeffler Finance BV
       7.750%, 02/15/2017 (S) 200,000 224,000
US Airways 2010-1 Class A Pass
       Through Trust
       6.250%, 04/22/2023 410,244 465,626
US Airways 2010-1 Class B Pass
       Through Trust
       8.500%, 04/22/2017 46,228 50,388
US Airways 2012-2 Class A Pass
       Through Trust
       4.625%, 06/03/2025 22,642 24,227
US Airways 2012-2 Class B Pass
       Through Trust
       6.750%, 06/03/2021 69,202 74,739
US Airways 2013-1 Class A Pass
       Through Trust
       3.950%, 11/15/2025 242,720 251,822
US Airways 2013-1 Class B Pass
       Through Trust
       5.375%, 11/15/2021 74,187 77,339
Xylem, Inc.
       3.550%, 09/20/2016 275,000 283,621
       4.875%, 10/01/2021 60,000 66,119
5,060,578
Information technology - 0.3%
Amphenol Corp.
       1.550%, 09/15/2017   130,000   130,349
NXP BV
       5.750%, 02/15/2021 to 03/15/2023 (S) 1,075,000 1,141,063
1,271,412
Materials - 0.3%  
Cytec Industries, Inc.
       3.950%, 05/01/2025 545,000 559,795
Rexam PLC (6.750% to 06/29/2017, then
       3 month EURIBOR + 2.900%)
       06/29/2067 480,000 529,797
1,089,592
Telecommunication services - 2.1%
Intelsat Jackson Holdings SA
       7.250%, 04/01/2019 to 10/15/2020 2,125,000 2,194,275
       7.500%, 04/01/2021 125,000 128,438
Matterhorn Mobile SA
       4.468%, 05/15/2019 (P)(S) 100,000 103,159
       6.750%, 05/15/2019 (S) 200,000 215,168
SBA Communications Corp.
       5.625%, 10/01/2019 100,000 105,450
SBA Telecommunications, Inc.
       5.750%, 07/15/2020 125,000 131,406
Sprint Communications, Inc.
       9.000%, 11/15/2018 (S) 150,000 172,125
T-Mobile USA, Inc.
       6.625%, 11/15/2020 100,000 104,500
Telesat Canada
       6.000%, 05/15/2017 (S) 125,000 127,438
UPCB Finance III, Ltd.
       6.625%, 07/01/2020 (S) 475,000 495,781
UPCB Finance V, Ltd.
       7.250%, 11/15/2021 (S) 2,075,000 2,233,219
UPCB Finance VI, Ltd.
       6.875%, 01/15/2022 (S) 1,825,000 1,948,188
7,959,147
Utilities - 0.2%
AmeriGas Finance LLC
       6.750%, 05/20/2020 25,000 26,313
       7.000%, 05/20/2022 125,000 134,063
AmeriGas Partners LP
       6.250%, 08/20/2019 25,000 25,938
CMS Energy Corp.
       6.550%, 07/17/2017 170,000 189,495
       8.750%, 06/15/2019 80,000 101,153
Suburban Propane Partners LP
       7.375%, 08/01/2021 125,000 134,375
611,337
TOTAL CORPORATE BONDS (Cost $72,402,389) $ 73,052,814
  
CONVERTIBLE BONDS - 0.1%
Consumer discretionary - 0.1%
The Priceline Group, Inc. 0.350%, 06/15/2020 281,000 320,691
TOTAL CONVERTIBLE BONDS (Cost $299,904) $ 320,691
 
TERM LOANS (M) - 4.6%
Consumer discretionary - 1.3%
Cequel Communications LLC
       3.500%, 02/14/2019 558,140 558,576

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Capital Appreciation Value Trust (continued)

Shares or
Principal
Amount       Value
TERM LOANS (M) (continued)
Consumer discretionary (continued)
Charter Communications Operating LLC
       3.000%, 07/01/2020 $ 319,313 $ 317,965
       3.000%, 01/03/2021 285,269 283,931
Hilton Worldwide Finance LLC
       3.500%, 10/26/2020 638,158 638,728
Kasima LLC
       3.250%, 05/17/2021 66,176 65,970
Peninsula Gaming LLC
       4.250%, 11/20/2017 648,068 647,582
UPC Financing Partnership
       3.250%, 06/30/2021 1,700,000 1,685,834
Wendy’s International, Inc.
       3.250%, 05/15/2019 491,250 490,483
4,689,069
Consumer staples - 1.4%
Charger OpCo BV
       3.500%, 07/23/2021 250,000 270,007
       3.500%, 07/23/2021 450,000 447,188
HJ Heinz Company
       3.250%, 06/05/2020 3,342,292 3,341,874
Pinnacle Foods Finance LLC
       3.000%, 04/29/2020 1,142,565 1,137,057
5,196,126
Health care - 0.3%
DaVita HealthCare Partners, Inc.
       TBD 06/24/2021 (T) 374,058 374,659
HCA, Inc.
       TBD 02/02/2016 (T) 50,000 49,938
       2.928%, 03/31/2017 771,479 771,721
1,196,318
Telecommunication services - 1.6%
Intelsat Jackson Holdings SA
       3.750%, 06/30/2019 4,845,968 4,825,373
Telesat Canada
       3.275%, 03/24/2017 123,750 97,462
       3.500%, 03/28/2019 693,734 691,710
       4.250%, 03/26/2019 490,000 385,749
6,000,294
TOTAL TERM LOANS (Cost $17,354,494) $ 17,081,807
 
ASSET BACKED SECURITIES - 0.5%
Ally Master Owner Trust, Series 2012-3,
       Class A1
       0.874%, 06/15/2017 (P) $ 1,540,000 $ 1,541,201
DB Master Finance LLC, Series 2015-1A,
       Class A2I
       3.262%, 02/20/2045 (S) 225,000 227,150
Ford Credit Auto Owner Trust, Series 2012-C,
       Class A3
       0.580%, 12/15/2016 92,475 92,487
Honda Auto Receivables Owner Trust,
       Series 2012-3, Class A3
       0.560%, 05/15/2016 71,491 71,492
TOTAL ASSET BACKED SECURITIES (Cost $1,928,964) $ 1,932,330
 
SHORT-TERM INVESTMENTS - 11.4%
Money market funds - 11.1%
T. Rowe Price Reserve Investment
       Fund, 0.0384% (Y) 41,834,877 41,834,877
Repurchase agreement - 0.3%  
Repurchase Agreement with State Street Corp.  
       dated 03/31/2015 at 0.000% to be
       repurchased at $1,019,000 on 04/01/2015,
       collateralized by $945,000 U.S. Treasury
       Notes, 3.625% due 08/15/2019 (valued at
       $1,043,091, including interest) $ 1,019,000   1,019,000
TOTAL SHORT-TERM INVESTMENTS (Cost $42,853,877) $ 42,853,877
Total Investments (Capital Appreciation Value Trust)
       (Cost $331,642,680) - 98.8% $ 370,617,321
Other assets and liabilities, net - 1.2% 4,614,817
TOTAL NET ASSETS - 100.0% $ 375,232,138

Core Bond Trust

Shares or
Principal
Amount       Value
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS - 54.8%
U.S. Government - 30.2%
U.S. Treasury Bonds
       2.500%, 02/15/2045 $ 1,972,000 1,955,053
       3.000%, 11/15/2044 1,364,000 1,494,752
       3.125%, 08/15/2044 4,272,000 4,789,642
       3.375%, 05/15/2044 210,000 246,176
       3.625%, 02/15/2044 15,787,000 19,315,647
       4.500%, 08/15/2039 768,000 1,051,740
U.S. Treasury Notes
       0.500%, 06/30/2016 to 03/31/2017 23,664,000 23,660,128
       0.625%, 10/15/2016 to 09/30/2017 24,109,000 24,103,672
       0.875%, 01/31/2017 to 11/15/2017 78,966,000 79,312,942
       1.000%, 09/15/2017 to 08/31/2019 23,022,000 23,092,187
       1.250%, 01/31/2020 673,000 669,372
       1.375%, 02/29/2020 to 03/31/2020 19,393,000 19,398,063
       1.500%, 01/31/2019 to 01/31/2022 15,064,000 15,156,995
       1.625%, 06/30/2019 to 08/31/2019 24,759,000 25,123,018
       1.750%, 09/30/2019 to 02/28/2022 26,631,000 27,089,206
       2.000%, 10/31/2021 to 02/15/2025 19,439,000 19,644,473
       2.125%, 08/31/2020 1,873,000 1,936,652
       2.250%, 07/31/2021 2,835,000 2,939,983
       3.125%, 04/30/2017 14,093,000 14,828,485
305,808,186
U.S. Government Agency - 24.6%
Federal Home Loan Mortgage Corp.
       3.500%, 12/01/2028 to 04/15/2035 16,244,002 17,243,389
       4.000%, 10/01/2029 to 04/01/2045 10,167,318 11,049,530
       4.500%, 06/01/2042 to 05/01/2044 4,073,835 4,554,075
       5.000%, 08/01/2039 2,653,670 3,007,976
Federal National Mortgage Association  
       1.859%, 10/09/2019 2,650,000 2,435,122
       2.581%, 03/01/2045 (P)   375,000 386,261
       2.625%, 09/06/2024 1,052,000 1,088,730
       3.000%, 12/01/2037 to 04/01/2038 1,508,143 1,544,179
       3.220%, 04/01/2044 (P) 8,024,284 8,450,718
       3.500%, TBA (C) 36,000,000 37,719,969
       3.500%, 12/01/2029 to 02/01/2045 6,252,162 6,686,963
       4.000%, TBA (C) 2,300,000 2,455,266

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Core 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)
       4.000%, 05/01/2025 to 04/01/2045 $ 67,037,286 $ 72,798,635
       4.500%, TBA (C)   5,400,000 5,875,629
       4.500%, 10/01/2033 to 03/01/2045 9,937,995 11,079,264
       5.000%, 03/01/2041 to 08/01/2041 1,306,013 1,481,867
       5.500%, 09/01/2034 to 08/01/2041 4,061,570 4,615,013
       6.000%, 08/01/2034 to 07/01/2037 3,508,036 4,033,966
       6.500%, 10/01/2036 1,173,241 1,350,517
Government National Mortgage Association
       3.000%, TBA (C) 7,300,000 7,519,193
       3.500%, TBA (C) 22,600,000 23,757,030
       4.000%, TBA (C) 15,300,000 16,292,650
Tennessee Valley Authority
       2.875%, 09/15/2024 2,870,000 3,004,534
  248,430,476
TOTAL U.S. GOVERNMENT AND AGENCY
OBLIGATIONS (Cost $546,632,621) $  554,238,662
 
FOREIGN GOVERNMENT
OBLIGATIONS - 1.5%
Brazil - 0.1%
Federative Republic of Brazil
       5.000%, 01/27/2045 635,000 587,375
Canada - 0.1%
Province of Manitoba
       3.050%, 05/14/2024 825,000 874,781
874,781
Colombia - 0.0%
Republic of Colombia
       5.000%, 06/15/2045 415,000 426,413
426,413
Indonesia - 0.1%
Republic of Indonesia
       5.125%, 01/15/2045 (S) 625,000 656,250
656,250
Japan - 0.1%
Japan Bank for International Cooperation
       2.125%, 02/10/2025 690,000 685,943
685,943
Mexico - 0.4%
Government of Mexico
       4.600%, 01/23/2046 740,000 758,500
       5.750%, 10/12/2110 3,159,000 3,451,208
4,209,708
Paraguay - 0.1%
Republic of Paraguay
       6.100%, 08/11/2044 (S) 705,000 773,738
773,738
Peru - 0.0%
Republic of Peru
       5.625%, 11/18/2050 220,000 268,400
268,400
Slovakia - 0.2%
Republic of Slovakia
       4.375%, 05/21/2022 (S) 2,290,000 2,559,968
Slovenia - 0.4%
Republic of Slovenia
       5.250%, 02/18/2024 (S) 1,965,000   2,255,329
       5.500%, 10/26/2022 (S) 1,059,000 1,220,540
       5.850%, 05/10/2023 (S) 525,000 620,813
4,096,682
TOTAL FOREIGN GOVERNMENT  
OBLIGATIONS (Cost $14,335,779) $ 15,139,258
  
CORPORATE BONDS - 24.5%
Consumer discretionary - 2.7%
Amazon.com, Inc. 4.950%, 12/05/2044 1,245,000 1,358,413
Bed Bath & Beyond, Inc. 5.165%, 08/01/2044 615,000 678,239
Coach, Inc. 4.250%, 04/01/2025 815,000 826,063
Cox Communications, Inc.
       4.800%, 02/01/2035 (S) 795,000 836,225
Daimler Finance North America LLC
       1.875%, 01/11/2018 (S) 937,000 947,638
       2.375%, 08/01/2018 (S) 1,490,000 1,527,700
DIRECTV Holdings LLC
       3.800%, 03/15/2022 425,000 440,507
       3.950%, 01/15/2025 1,435,000 1,478,448
       4.450%, 04/01/2024 1,055,000 1,126,731
Ford Motor Credit Company LLC
       2.459%, 03/27/2020 995,000 996,028
General Motors Company
       3.500%, 10/02/2018 1,280,000 1,311,437
       5.000%, 04/01/2035 215,000 229,435
       5.200%, 04/01/2045 175,000 189,955
Grupo Televisa SAB 5.000%, 05/13/2045 530,000 551,742
Hyundai Capital America
       2.000%, 03/19/2018 (S) 455,000 462,218
       2.600%, 03/19/2020 (S) 1,135,000 1,147,031
Johnson Controls, Inc. 4.950%, 07/02/2064 325,000 348,503
LVMH Moet Hennessy Louis Vuitton SA
       1.625%, 06/29/2017 (S) 1,700,000 1,716,709
Sky PLC 3.750%, 09/16/2024 (S) 1,070,000 1,106,214
Thomson Reuters Corp. 3.850%, 09/29/2024 910,000 942,285
Toyota Motor Credit Corp.
       1.125%, 05/16/2017 2,330,000 2,336,212
       2.750%, 05/17/2021 1,420,000 1,467,290
Viacom, Inc.
       4.850%, 12/15/2034 1,290,000 1,332,792
       5.250%, 04/01/2044 400,000 427,293
Volkswagen Group of America Finance LLC
       2.125%, 05/23/2019 (S) 980,000 986,148
Volkswagen International Finance NV
       1.125%, 11/18/2016 (S) 2,210,000 2,217,357
Yum! Brands, Inc. 5.350%, 11/01/2043 540,000 598,209
  27,586,822
Consumer staples - 1.1%
Altria Group, Inc.
       2.625%, 01/14/2020 1,245,000 1,263,300
       4.500%, 05/02/2043 715,000 739,630
Anheuser-Busch InBev Finance, Inc.
       2.150%, 02/01/2019 1,595,000 1,622,501
       2.625%, 01/17/2023 795,000 783,715
Kraft Foods Group, Inc. 5.000%, 06/04/2042 415,000 461,430
Pernod-Ricard SA 5.750%, 04/07/2021 (S) 1,423,000 1,651,350
The JM Smucker Company
       4.375%, 03/15/2045 (S) 320,000 333,531
Tyson Foods, Inc. 4.500%, 06/15/2022 589,000 649,845

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Core Bond Trust (continued)

Shares or
Principal
Amount		       Value
CORPORATE BONDS (continued)
Consumer staples (continued)
Walgreens Boots Alliance, Inc.
       4.800%, 11/18/2044 $ 425,000 $ 458,774
WM Wrigley Jr. Company
       2.000%, 10/20/2017 (S) 405,000 409,308
       2.400%, 10/21/2018 (S) 615,000 626,021
       2.900%, 10/21/2019 (S) 1,238,000 1,276,447
       3.375%, 10/21/2020 (S) 1,195,000 1,252,226
11,528,078
Energy - 4.4%
Canadian Oil Sands, Ltd.  
       6.000%, 04/01/2042 (S) 645,000 582,502
Chevron Corp.
       1.365%, 03/02/2018 1,685,000 1,692,952
       1.961%, 03/03/2020 1,825,000 1,836,685
       2.411%, 03/03/2022 960,000 961,731
ConocoPhillips Company 2.875%, 11/15/2021 835,000 856,240
Continental Resources, Inc.  
       4.500%, 04/15/2023 720,000 698,782
Diamond Offshore Drilling, Inc.
       4.875%, 11/01/2043 (L) 155,000 129,684
Ecopetrol SA
       5.875%, 05/28/2045 500,000 468,750
       7.375%, 09/18/2043 485,000 528,044
El Paso Pipeline Partners
       Operating Company LLC      
       4.100%, 11/15/2015 1,140,000 1,160,071
       4.300%, 05/01/2024 815,000 829,739
Energy Transfer Partners LP
       4.050%, 03/15/2025 835,000 843,070
       5.150%, 03/15/2045 505,000 509,759
EnLink Midstream Partners LP
       5.050%, 04/01/2045 795,000 808,792
Ensco PLC 5.200%, 03/15/2025 475,000 477,546
Enterprise Products Operating LLC
       3.750%, 02/15/2025 675,000 698,190
       4.850%, 03/15/2044 340,000 366,553
Exxon Mobil Corp.
       1.305%, 03/06/2018 2,390,000 2,403,049
       1.912%, 03/06/2020 1,435,000 1,448,941
       2.709%, 03/06/2025 1,435,000 1,449,624
       3.567%, 03/06/2045 480,000 497,768
Kerr-McGee Corp. 6.950%, 07/01/2024 1,815,000 2,271,304
Kinder Morgan, Inc.
       5.300%, 12/01/2034 325,000 335,780
       5.550%, 06/01/2045 550,000 579,961
Marathon Petroleum Corp.
       5.000%, 09/15/2054 170,000 170,646
MPLX LP 4.000%, 02/15/2025 295,000 297,361
Newfield Exploration Company
       5.625%, 07/01/2024 875,000 910,000
Niagara Mohawk Power Corp.
       4.278%, 10/01/2034 (S) 685,000 747,357
ONEOK Partners LP
       2.000%, 10/01/2017 920,000 917,295
       3.800%, 03/15/2020 555,000 565,884
       4.900%, 03/15/2025 485,000 490,734
       6.200%, 09/15/2043 415,000 432,185
Petrobras Global Finance BV
       3.000%, 01/15/2019 755,000 651,807
       4.875%, 03/17/2020 1,060,000 951,880
Petroleos Mexicanos
       2.378%, 04/15/2025 1,375,000 1,399,078
       4.500%, 01/23/2026 (S) 470,000 478,930
       5.500%, 06/27/2044 (S) 230,000 232,013
       5.625%, 01/23/2046 (S) 1,060,000 1,078,338
       6.375%, 01/23/2045 515,000 575,770
Phillips 66 4.875%, 11/15/2044 435,000 465,905
Plains All American Pipeline LP
       4.900%, 02/15/2045 770,000 809,713
Rowan Companies, Inc.
       5.400%, 12/01/2042 587,000 481,508
       5.850%, 01/15/2044 355,000 305,948
Spectra Energy Partners LP
       4.500%, 03/15/2045 505,000 512,636
Statoil ASA
       2.250%, 11/08/2019 900,000 915,337
       2.900%, 11/08/2020 1,080,000 1,131,404
Sunoco Logistics Partners Operations LP
       5.350%, 05/15/2045 960,000 1,009,643
Talisman Energy, Inc. 3.750%, 02/01/2021 710,000 698,600
TC PipeLines LP
       4.375%, 03/13/2025 710,000 717,040
       4.650%, 06/15/2021 303,000 318,960
Total Capital International SA
       2.100%, 06/19/2019 880,000 892,413
       2.750%, 06/19/2021 595,000 608,634
Valero Energy Corp.
       3.650%, 03/15/2025 945,000 963,233
       4.900%, 03/15/2045 480,000 497,088
Weatherford International, Ltd.
       4.500%, 04/15/2022 525,000 479,843
       5.950%, 04/15/2042 655,000 575,784
Western Gas Partners LP 5.375%, 06/01/2021 335,000 370,163
Williams Partners LP 4.000%, 09/15/2025 815,000 799,324
44,887,971
Financials - 9.8%
Abbey National Treasury Services PLC
       2.375%, 03/16/2020 1,890,000 1,903,479
ACE INA Holdings, Inc.
       3.150%, 03/15/2025 1,180,000 1,207,441
AIA Group, Ltd.
       3.200%, 03/11/2025 (S) 960,000 968,447
American Express Credit Corp.
       1.750%, 06/12/2015 2,524,000 2,529,116
American International Group, Inc.
       4.375%, 01/15/2055 420,000 423,337
       4.500%, 07/16/2044 485,000 520,669
       6.400%, 12/15/2020 740,000 896,373
American Tower Corp.
       3.450%, 09/15/2021 1,165,000 1,189,192
       3.500%, 01/31/2023 1,077,000 1,067,563
Assurant, Inc.
       2.500%, 03/15/2018 1,180,000 1,200,355
Australia & New Zealand Banking Group, Ltd.
       4.500%, 03/19/2024 (S) 1,180,000 1,233,121
Bank of America Corp.
       1.500%, 10/09/2015 2,660,000 2,671,265
       4.000%, 04/01/2024 to 01/22/2025 2,250,000 2,347,727
       4.250%, 10/22/2026 875,000 903,299
       6.000%, 09/01/2017 1,365,000 1,501,335
Bank of America NA
       1.650%, 03/26/2018 1,020,000 1,022,385
Barclays PLC
       3.650%, 03/16/2025 965,000 967,944
       4.375%, 09/11/2024 565,000 571,459

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Core Bond Trust (continued)

Shares or
Principal
Amount		       Value
CORPORATE BONDS (continued)
Financials (continued)
BB&T Corp.
       2.450%, 01/15/2020 $ 750,000 $ 762,942
Berkshire Hathaway, Inc.
       4.500%, 02/01/2045 655,000 713,141
Burlington Northern Santa Fe LLC
       4.150%, 04/01/2045 1,105,000 1,149,607
Capital One Financial Corp.
       3.200%, 02/05/2025 870,000 862,777
Citigroup, Inc.
       1.550%, 08/14/2017 1,935,000 1,936,463
       1.700%, 07/25/2016 1,365,000 1,374,195
       2.400%, 02/18/2020 1,040,000 1,043,711
CME Group, Inc.
       3.000%, 03/15/2025 1,660,000 1,676,856
Credit Agricole SA
       4.375%, 03/17/2025 (S) 950,000 960,594
Credit Suisse Group Funding Guernsey, Ltd.
       3.750%, 03/26/2025 (S) 1,700,000 1,718,459
Credit Suisse/New York
       3.625%, 09/09/2024 1,185,000 1,224,777
DDR Corp.
       3.375%, 05/15/2023 1,300,000 1,290,043
       4.625%, 07/15/2022 1,355,000 1,458,008
Deutsche Bank AG
       4.500%, 04/01/2025 2,005,000 2,003,374
Discover Financial Services
       3.750%, 03/04/2025 580,000 584,255
Easterly Government Properties, Inc.
       4.000%, 1,590,844 1,732,182
Federal Realty Investment Trust
       3.000%, 08/01/2022 470,000 474,507
       3.950%, 01/15/2024 630,000 673,292
Ford Motor Credit LLC
       3.664%, 09/08/2024 1,085,000 1,119,474
General Electric Capital Corp.
       5.875%, 01/14/2038 1,045,000 1,351,236
Healthcare Trust of America Holdings LP
       3.375%, 07/15/2021 740,000 751,210
HSBC USA, Inc.
       1.700%, 03/05/2018 2,400,000 2,404,128
       2.350%, 03/05/2020 2,400,000 2,414,232
       2.375%, 11/13/2019 515,000 519,576
ING Bank NV
       1.800%, 03/16/2018 (S) 1,245,000 1,252,519
       2.450%, 03/16/2020 (S) 2,030,000 2,054,902
       5.800%, 09/25/2023 (S) 980,000 1,109,477
Inter-American Development Bank
       4.375%, 01/24/2044 370,000 473,290
Intesa Sanpaolo SpA
       2.375%, 01/13/2017 1,445,000 1,462,032
       5.017%, 06/26/2024 (S) 555,000 568,037
JPMorgan Chase & Co.
       2.250%, 01/23/2020 2,965,000 2,971,351
       3.125%, 01/23/2025 415,000 415,535
       4.125%, 12/15/2026 540,000 559,817
       4.850%, 02/01/2044 485,000 553,524
Lazard Group LLC
       3.750%, 02/13/2025 1,615,000 1,592,766
       4.250%, 11/14/2020 1,110,000 1,186,289
       6.850%, 06/15/2017 412,000 454,464
Lincoln National Corp.
       3.350%, 03/09/2025 295,000 298,376
Lloyds Bank PLC
       1.750%, 03/16/2018 1,715,000 1,723,393
       2.400%, 03/17/2020 1,355,000 1,366,883
Lloyds Banking Group PLC
       4.500%, 11/04/2024 1,145,000 1,189,297
MetLife, Inc.
       1.903%, 12/15/2017 620,000 624,402
       3.000%, 03/01/2025 830,000 831,813
       4.050%, 03/01/2045 370,000 380,559
Mid-America Apartments LP
       3.750%, 06/15/2024 1,005,000 1,029,638
       4.300%, 10/15/2023 920,000 982,787
Morgan Stanley
       2.650%, 01/27/2020 2,535,000 2,574,921
       3.700%, 10/23/2024 1,555,000 1,621,215
       4.300%, 01/27/2045 760,000 787,628
       4.350%, 09/08/2026 730,000 765,233
       5.375%, 10/15/2015 1,175,000 1,203,715
Murray Street Investment Trust I
       4.647%, 03/09/2017 2,126,000 2,252,612
Perrigo Finance PLC
       3.900%, 12/15/2024 1,095,000 1,134,469
       4.900%, 12/15/2044 280,000 300,093
Prudential Financial, Inc.
       4.600%, 05/15/2044 255,000 270,398
Royal Bank of Scotland Group PLC
       5.125%, 05/28/2024 440,000 461,609
Sumitomo Mitsui Banking Corp.
       1.350%, 07/11/2017 1,695,000 1,693,244
Swedbank AB
       2.200%, 03/04/2020 (S) 485,000 487,208
Synchrony Financial
       2.700%, 02/03/2020 1,280,000 1,285,563
       4.250%, 08/15/2024 815,000 852,008
Tanger Properties LP
       3.750%, 12/01/2024 530,000 543,561
       3.875%, 12/01/2023 615,000 641,719
The Goldman Sachs Group, Inc.
       3.500%, 01/23/2025 2,540,000 2,589,812
       6.250%, 02/01/2041 455,000 593,142
       6.750%, 10/01/2037 471,000 618,505
WEA Finance LLC / Westfield UK &
       Europe Finance PLC
       2.700%, 09/17/2019 (S) 550,000 556,759
       3.750%, 09/17/2024 (S) 800,000 827,455
XLIT, Ltd.
       4.450%, 03/31/2025 415,000 417,686
       5.500%, 03/31/2045 500,000 500,168
99,383,420
Health care - 1.3%
AbbVie, Inc. 4.400%, 11/06/2042 435,000 450,014
Actavis Funding SCS
       3.000%, 03/12/2020 1,470,000 1,505,965
       3.800%, 03/15/2025 945,000 974,480
       4.750%, 03/15/2045 840,000 891,458
       4.850%, 06/15/2044 255,000 270,880
Amgen, Inc. 2.200%, 05/22/2019 850,000 860,983
Anthem, Inc.
       3.125%, 05/15/2022 1,358,000 1,376,668
       3.500%, 08/15/2024 730,000 749,556
       5.100%, 01/15/2044 400,000 458,844
Celgene Corp.
       3.625%, 05/15/2024 465,000 483,265

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Core Bond Trust (continued)

Shares or
Principal
Amount		       Value
CORPORATE BONDS (continued)
Health care (continued)
Celgene Corp. (continued)
       5.250%, 08/15/2043 $ 485,000 $ 562,024
Keysight Technologies, Inc.
       4.550%, 10/30/2024 (S) 605,000 609,614
Medtronic, Inc.
       3.150%, 03/15/2022 (S) 850,000 882,609
       4.375%, 03/15/2035 (S) 675,000 737,086
Mylan, Inc. 5.400%, 11/29/2043 470,000 544,773
Thermo Fisher Scientific, Inc.
       3.300%, 02/15/2022 250,000 256,342
Zimmer Holdings, Inc. 3.550%, 04/01/2025 1,040,000 1,060,702
12,675,263
Industrials - 1.1%
ERAC USA Finance LLC
       4.500%, 02/15/2045 (S) 295,000 298,476
       5.625%, 03/15/2042 (S) 937,000 1,092,857
FedEx Corp.
       3.200%, 02/01/2025 730,000 739,866
       4.100%, 02/01/2045 730,000 728,990
L-3 Communications Corp.
       3.950%, 05/28/2024 875,000 898,018
Lockheed Martin Corp. 3.800%, 03/01/2045 565,000 561,711
Northrop Grumman Corp.
       3.250%, 08/01/2023 1,225,000 1,262,941
       3.850%, 04/15/2045 815,000 802,375
Penske Truck Leasing Company LP
       2.500%, 06/15/2019 (S) 1,415,000 1,416,858
       3.050%, 01/09/2020 (S) 1,710,000 1,738,649
       3.375%, 02/01/2022 (S) 720,000 719,778
Valmont Industries, Inc. 5.250%, 10/01/2054 615,000 606,159
10,866,678
Information technology - 0.8%
Alibaba Group Holding Ltd.
       3.600%, 11/28/2024 (S) 690,000 692,227
Apple, Inc.
       2.500%, 02/09/2025 1,065,000 1,043,132
       2.850%, 05/06/2021 1,600,000 1,667,085
       3.450%, 02/09/2045 710,000 675,891
Broadcom Corp. 4.500%, 08/01/2034 245,000 265,053
MasterCard, Inc. 3.375%, 04/01/2024 348,000 367,222
Microsoft Corp. 4.000%, 02/12/2055 890,000 888,618
Tencent Holdings, Ltd.
       2.875%, 02/11/2020 (S) 450,000 453,273
       3.800%, 02/11/2025 (S) 760,000 776,649
Xerox Corp.
       2.750%, 09/01/2020 720,000 721,007
       4.800%, 03/01/2035 245,000 240,292
7,790,449
Materials - 0.8%
Albemarle Corp. 5.450%, 12/01/2044 740,000 798,207
Barrick Gold Corp. 4.100%, 05/01/2023 490,000 483,390
BHP Billiton Finance USA, Ltd.
       5.000%, 09/30/2043 400,000 458,133
Eastman Chemical Company
       3.800%, 03/15/2025 1,015,000 1,052,613
       4.650%, 10/15/2044 465,000 488,054
Freeport-McMoRan, Inc. 4.550%, 11/14/2024 725,000 696,618
Glencore Finance Canada, Ltd.
       2.050%, 10/23/2015 (S) 1,321,000 1,326,548
LYB International Finance BV
       4.875%, 03/15/2044 445,000 477,292
Lyondellbasell Industries NV
       4.625%, 02/26/2055 435,000 430,093
Teck Resources Limited 3.750%, 02/01/2023 615,000 575,984
The Mosaic Company
       5.450%, 11/15/2033 345,000 398,940
       5.625%, 11/15/2043 410,000 486,932
Vale Overseas, Ltd. 8.250%, 01/17/2034 275,000 305,965
7,978,769
Telecommunication services - 1.2%
America Movil SAB de CV
       3.125%, 07/16/2022 1,560,000 1,586,676
AT&T, Inc.
       4.300%, 12/15/2042 255,000 243,166
       4.350%, 06/15/2045 310,000 297,518
Bharti Airtel International Netherlands BV
       5.350%, 05/20/2024 (S) 580,000 638,725
Scripps Networks Interactive, Inc.
       3.900%, 11/15/2024 890,000 918,263
Telefonica Chile SA 3.875%, 10/12/2022 (S) 555,000 558,309
Telstra Corp., Ltd. 3.125%, 04/07/2025 (S) 335,000 334,431
Verizon Communications, Inc.
       2.500%, 09/15/2016 1,175,000 1,199,872
       3.500%, 11/01/2024 665,000 680,538
       4.272%, 01/15/2036 (S) 664,000 658,988
       4.400%, 11/01/2034 1,680,000 1,711,498
       4.862%, 08/21/2046 2,885,000 3,020,757
11,848,741
Utilities - 1.3%
Alabama Power Company 3.750%, 03/01/2045 550,000 560,193
Ameren Illinois Company 4.300%, 07/01/2044 495,000 557,543
American Electric Power Company, Inc.
       1.650%, 12/15/2017 1,475,000 1,483,257
Commonwealth Edison Company
       3.700%, 03/01/2045 220,000 223,289
Consolidated Edison Company of New
       York, Inc. 4.625%, 12/01/2054 425,000 477,333
Consumers Energy Company
       4.350%, 08/31/2064 410,000 446,669
Dominion Resources, Inc. 4.700%, 12/01/2044 675,000 751,853
Electricite de France SA
       6.000%, 01/22/2114 (S) 1,025,000 1,243,666
Pacific Gas & Electric Company
       3.250%, 06/15/2023 530,000 547,760
PacifiCorp 3.600%, 04/01/2024 1,235,000 1,323,238
Potomac Electric Power Company
       3.600%, 03/15/2024 595,000 634,394
       4.150%, 03/15/2043 580,000 626,515
Public Service Company of Colorado
       4.300%, 03/15/2044 350,000 398,772
Public Service Electric & Gas Company
       3.050%, 11/15/2024 540,000 555,927
Puget Energy, Inc. 6.000%, 09/01/2021 1,560,000 1,841,845
Southwestern Electric Power Company
       3.550%, 02/15/2022 470,000 496,042
       3.900%, 04/01/2045 580,000 573,651
Virginia Electric and Power Company
       4.450%, 02/15/2044 380,000 428,260
13,170,207
TOTAL CORPORATE BONDS (Cost $242,961,292) $ 247,716,398
 
MUNICIPAL BONDS - 1.0%
County of Clark (Nevada) 6.820%, 07/01/2045 1,050,000 1,544,760

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Core Bond Trust (continued)

Shares or
Principal
Amount		       Value
MUNICIPAL BONDS (continued)
Los Angeles Community College District
       (California) 6.750%, 08/01/2049 $ 1,005,000 $ 1,523,741
New Jersey State Turnpike Authority
       7.102%, 01/01/2041 1,298,000 1,905,399
North Texas Tollway Authority
       6.718%, 01/01/2049 1,166,000 1,737,153
Port Authority of New York & New Jersey
       4.458%, 10/01/2062 1,336,000 1,461,116
State of California 7.600%, 11/01/2040 850,000 1,363,851
The Ohio State University 4.800%, 06/01/2111 394,000 439,424
TOTAL MUNICIPAL BONDS (Cost $7,463,919) $ 9,975,444
 
COLLATERALIZED MORTGAGE
OBLIGATIONS - 9.7%
Commercial and residential - 5.0%
Banc of America Commercial Mortgage, Inc.,
       Series 2005-4, Class A5A
       4.933%, 07/10/2045 213,016 213,907
CFCRE Commercial Mortgage Trust,
       Series 2011-C1, Class A4
       4.961%, 04/15/2044 (P) (S) 1,420,000 1,599,692
Citigroup Commercial Mortgage Trust
       Series 2012-CR4, Class A2,
              1.801%, 10/15/2045 338,000 340,326
       Series 2013-GC17, Class A4,
              4.131%, 11/10/2046 353,000 391,503
       Series 2014-GC19, Class AAB,
              3.552%, 03/10/2047 1,279,000 1,360,545
       Series 2015-CG27, Class A5,
              3.137%, 02/10/2048 515,000 527,389
Commercial Mortgage Pass
       Through Certificates
       Series 2010-C1, Class A3,
              4.205%, 07/10/2046 (S) 1,512,000 1,662,653
       Series 2013-CR12, Class A4,
              4.046%, 10/10/2046 114,000 125,953
       Series 2013-LC6, Class AM,
              3.282%, 01/10/2046 527,000 544,664
       Series 2014-CR18, Class ASB,
              3.452%, 07/15/2047 618,000 655,272
       Series 2014-CR19, Class A5,
              3.796%, 08/10/2047 1,055,000 1,139,976
       Series 2014-CR20, Class ASB,
              3.305%, 11/10/2047 2,847,000 2,987,067
       Series 2014-LC15, Class ASB,
              3.528%, 04/10/2047 1,063,000 1,129,111
       Series 2014-UBS3, Class A4,
              3.819%, 06/10/2047 712,000 770,252
       Series 2014-UBS4, Class A5,
              3.694%, 08/10/2047 2,719,000 2,903,601
       Series 2014-UBS5, Class A4,
              3.838%, 09/10/2047 555,000 600,768
       Series 2014-UBS5, Class ASB,
              3.548%, 09/10/2047 358,000 380,371
       Series 2014-UBS6, Class AM,
              4.050%, 12/10/2047 (P) 1,311,000 1,403,231
       Series 2014-UBS6, Class ASB,
              3.387%, 12/10/2047 1,296,000 1,366,707
       Series 2015-CR22, Class A5,
              3.309%, 03/10/2048 503,000 522,678
Credit Suisse First Boston Mortgage
       Securities Corp., Series 2005-C5, Class A4
       5.100%, 08/15/2038 (P) 390,087 391,142
CSAIL Commercial Mortgage Trust
       Series 2015-C1, Class A4,
              3.505%, 04/15/2050 1,120,000 1,183,039
       Series 2015-C1, Class AS,
              3.791%, 04/15/2050 463,000 489,014
DBUBS Mortgage Trust
       Series 2011-LC1A, Class A1,
              3.742%, 11/10/2046 (S) 1,650,631 1,679,620
       Series 2011-LC1A, Class A3,
              5.002%, 11/10/2046 (S) 143,000 163,269
       Series 2011-LC2A, Class A4,
              4.537%, 07/10/2044 (S) 1,391,000 1,560,735
Greenwich Capital Commercial
       Funding Corp., Series 2005-GG5, Class A5
       5.224%, 04/10/2037 (P) 1,010,947 1,018,406
GS Mortgage Securities Trust
       Series 2011-GC3, Class A2,
              3.645%, 03/10/2044 (S) 880,998 895,924
       Series 2012-GC6, Class A1,
              1.282%, 01/10/2045 38,491 38,626
       Series 2012-GCJ7, Class A1,
              1.144%, 05/10/2045 301,694 302,497
       Series 2012-GCJ7, Class A2,
              2.318%, 05/10/2045 438,000 446,317
       Series 2014-GC18, Class AAB,
              3.648%, 01/10/2047 1,114,000 1,195,568
       Series 2014-GC20, Class AAB,
              3.655%, 04/10/2047 1,387,000 1,489,753
       Series 2014-GC24, Class AAB,
              3.650%, 09/10/2047 284,000 305,043
       Series 2014-GC26, Class AAB,
              3.365%, 11/10/2047 806,000 851,430
Impact Funding LLC, Series 2010-1, Class A1
       5.314%, 01/25/2051 (S) 3,459,657 4,036,160
JPMBB Commercial Mortgage
       Securities Trust, Series 2014-C25,
       Class ASB 3.407%, 11/15/2047 354,000 373,818
JPMorgan Chase Commercial
       Mortgage Securities Corp.
       Series 2012-LC9, Class A2,
              1.677%, 12/15/2047 428,000 431,250
       Series 2013-C10, Class ASB,
              2.702%, 12/15/2047 880,000 900,802
JPMorgan Chase Commercial
       Mortgage Securities Trust
       Series 2010-C2, Class A3,
              4.070%, 11/15/2043 (S) 2,788,000 3,042,684
       Series 2010-CNTR, Class A1,
              3.299%, 08/05/2032 (S) 470,712 487,240
       Series 2006-CB14, Class A4,
              5.481%, 12/12/2044 (P) 386,509 394,534
JPMorgan Mortgage Trust, Series 2015-IVR2,
       Class A2 2.774%, 01/25/2045 (P) (S) 1,057,797 1,069,740
Merrill Lynch Mortgage Trust,
       Series 2005-CIP1, Class A4
       5.047%, 07/12/2038 (P) 211,476 212,140
Morgan Stanley Bank of America
       Merrill Lynch Trust
       Series 2013-C10, Class A1,
              1.394%, 07/15/2046 1,285,544 1,292,923
       Series 2013-C9, Class A,
              1.970%, 05/15/2046 438,000 444,249

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Core 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 2014-C15, Class ASB,
              3.654%, 04/15/2047 $ 514,000 $ 549,710
Morgan Stanley Capital I Trust,
       Series 2011-C2, Class A2
       3.476%, 06/15/2044 (S) 1,523,236 1,562,504
The Goldman Sachs Group, Inc.
       Series 2015-GC28, Class A5,
              3.396%, 02/10/2048 1,028,000 1,074,136
       Series 2015-GC28, Class AS,
              3.759%, 02/10/2048 1,121,000 1,175,819
UBS-Barclays Commercial Mortgage Trust,
       Series 2013-C6, Class A4
       3.244%, 04/10/2046 409,000 426,722
50,110,480
U.S. Government Agency - 4.7%
Federal Home Loan Mortgage Corp.
       Series 2014-HQ1, Class M1,
              1.823%, 08/25/2024 (P) 723,961 729,205
       Series 2015-DN1, Class M1,
              1.423%, 01/25/2025 (P) 644,042 645,354
       Series 271, Class 30, 3.000%, 08/15/2042 2,481,218 2,525,901
       Series 2980, Class QA, 6.000%, 05/15/2035 1,552,192 1,711,844
       Series 300, Class 300, 3.000%, 01/15/2043 2,964,852 3,021,774
       Series 342, Class 300, 3.000%, 02/15/2045 7,541,703 7,728,084
       Series 3664, Class DA, 4.000%, 11/15/2037 931,692 985,263
       Series 3876, Class NB, 5.000%, 08/15/2038 1,855,644 2,006,966
       Series 4225, Class A, 4.000%, 09/15/2040 2,044,554 2,209,617
       Series 4227, Class AB, 3.500%, 10/15/2037 2,056,975 2,163,708
       Series 4430, Class A, 4.000%, 04/15/2041 2,287,454 2,491,788
       Series T-48, Class 1A,
              5.596%, 07/25/2033 (P) 47,060 53,764
       Series T-57, Class 1A2, 7.000%, 07/25/2043 615,488 721,218
       Series T-57, Class 1A3, 7.500%, 07/25/2043 470,047 568,055
       Series T-59, Class 1A3, 7.500%, 10/25/2043 663,494 811,470
       Series T-60, Class 1A3, 7.500%, 03/25/2044 673,680 816,643
Federal National Mortgage Association
       Series 2002-33, Class A2,
              7.500%, 06/25/2032 492,134 581,777
       Series 2002-95, Class DB,
              6.000%, 01/25/2033 1,906,586 2,208,825
       Series 2003-W17, Class 1A7,
              5.750%, 08/25/2033 1,011,000 1,103,684
       Series 2005-5, Class PA,
              5.000%, 01/25/2035 570,062 626,108
       Series 2006-56, Class CA,
              6.000%, 07/25/2036 412,035 483,755
       Series 2009-20, Class DT,
              4.500%, 04/25/2039 1,808,215 2,004,950
       Series 2011-53, Class TN,
              4.000%, 06/25/2041 1,181,980 1,275,718
       Series 2012-112, Class DA,
              3.000%, 10/25/2042 4,531,468 4,624,716
       Series 2012-134, Class LC,
              3.000%, 12/25/2042 1,523,101 1,565,443
       Series 2013-133, Class AB,
              4.000%, 06/25/2039 1,284,029 1,383,505
       Series 2013-9, Class CB,
              5.500%, 04/25/2042 142,715 161,421
       Series 2013-94, Class HA,
              4.000%, 01/25/2040 555,240 600,450
       Series 2014-9, Class A, 4.000%, 05/25/2037 $ 1,060,063 1,147,782
       Series 411, Class A3, 3.000%, 08/25/2042 844,863 865,839
47,824,627
TOTAL COLLATERALIZED MORTGAGE
OBLIGATIONS (Cost $96,579,716) $ 97,935,107
           
ASSET BACKED SECURITIES - 15.3%
Acadia Healthcare Company, Inc.,
       Series 2015-2, Class A1
       0.742%, 01/15/2021 (P) 1,799,000 1,802,116
Ally Auto Receivables Trust
       Series 2011-5, Class A4,
              1.320%, 07/15/2016 283,392 283,471
       Series 2013-1, Class A3,
              0.630%, 05/15/2017 228,385 228,495
       Series 2014-1, Class A4,
              1.530%, 04/15/2019 3,913,000 3,925,369
       Series 2014-2, Class A4,
              1.840%, 01/15/2020 213,000 215,191
Ally Master Owner Trust
       Series 2012-5, Class A, 1.540%, 09/15/2019 2,085,000 2,092,385
       Series 2014-4, Class A2,
              1.430%, 06/17/2019 1,954,000 1,959,669
       Series 2014-5, Class A1,
              0.664%, 10/15/2019 (P) 3,094,000 3,096,376
American Express Credit Account
       Master Trust, Series 2012-4, Class A
       0.414%, 05/15/2020 (P) 1,401,000 1,397,506
Avis Budget Rental Car Funding AESOP LLC
       Series 2012-3A, Class A,
              2.100%, 03/20/2019 (S) 986,000 994,565
       Series 2013-1A, Class A,
              1.920%, 09/20/2019 (S) 2,053,000 2,052,485
BA Credit Card Trust, Series 2014-A2,
       Class A
       0.442%, 09/16/2019 (P) 3,073,000 3,073,636
Bank of America Credit Card Trust,
       Series 2007-A4, Class A4
       0.214%, 11/15/2019 (P) 1,523,000 1,513,015
Bank of The West Auto Trust, Series 2014-1,
       Class A3
       1.090%, 03/15/2019 (S) 873,000 873,266
California Republic Auto Receivables Trust
       Series 2014-2, Class A4,
              1.570%, 12/16/2019 559,000 561,352
       Series 2014-3, Class A4,
              1.790%, 03/16/2020 495,000 498,968
       Series 2015-1, Class A3,
              1.330%, 04/15/2019 870,000 873,488
       Series 2015-1, Class A4,
              1.820%, 09/15/2020 1,003,000 1,008,547
Capital Auto Receivables Asset Trust
       Series 2013-1, Class A3,
              0.790%, 06/20/2017 3,733,000 3,734,467
       Series 2013-2, Class A4,
              1.560%, 07/20/2018 838,000 844,344
       Series 2013-3, Class A3,
              1.310%, 12/20/2017 5,263,000 5,284,726
       Series 2013-3, Class A4,
              1.680%, 04/20/2018 539,000 544,043

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Core Bond Trust (continued)

Shares or
Principal
Amount		       Value
ASSET BACKED SECURITIES (continued)
Capital Auto Receivables
Asset Trust (continued)
       Series 2013-4, Class A3,
              1.090%, 03/20/2018 $ 1,339,000 $ 1,339,044
       Series 2013-4, Class A4,
              1.470%, 07/20/2018 1,821,000 1,829,903
       Series 2014-1, Class A3,
              1.320%, 06/20/2018 2,176,000 2,184,241
       Series 2014-1, Class A4,
              1.690%, 10/22/2018 1,926,000 1,926,333
       Series 2014-2, Class A1,
              0.476%, 06/20/2016 (P) 1,956,000 1,955,497
       Series 2014-2, Class A3,
              1.260%, 05/21/2018 3,299,000 3,311,249
       Series 2014-2, Class A4,
              1.620%, 10/22/2018 943,000 949,473
       Series 2015-1, Class A2,
              1.420%, 06/20/2018 2,482,000 2,487,202
       Series 2015-1, Class A3,
              1.610%, 06/20/2019 1,666,000 1,667,015
       Series 2015-1, Class A4,
              1.860%, 10/21/2019 212,000 212,272
Capital One Multi-Asset Execution Trust
       Series 2005-A9, Class A,
              0.265%, 08/15/2018 (P) 6,439,000 6,436,875
       Series 2015-A1, Class A,
              1.390%, 01/15/2021 3,247,000 3,246,114
Citibank Credit Card Issuance Trust,
       Series 2014-A6, Class A6
       2.150%, 07/15/2021 8,511,000 8,654,078
Discover Card Execution Note Trust
       Series 2014-A1, Class A1,
              0.604%, 07/15/2021 (P) 1,689,000 1,692,859
       Series 2015-A1, Class A1,
              0.524%, 08/17/2020 (P) 4,641,000 4,643,692
Ford Credit Auto Owner Trust
       Series 2013-B, Class A3,
              0.570%, 10/15/2017 1,155,517 1,155,782
       Series 2014-1, Class A,
              2.260%, 11/15/2025 (S) 3,139,000 3,196,896
       Series 2014-2, Class A,
              2.310%, 04/15/2026 (S) 1,871,000 1,905,866
       Series 2015, Class AA4,
              1.640%, 06/15/2020 524,000 526,924
Ford Credit Floorplan Master Owner Trust
       Series 2012-2, Class A, 1.920%, 01/15/2019 2,601,000 2,639,679
       Series 2014-1, Class A1,
              1.200%, 02/15/2019 2,640,000 2,646,933
Ford Credit Floorplan Master Owner Trust A
       Series 2014-1, Class A2,
              0.574%, 02/15/2019 (P) 512,000 512,204
       Series 2015-1, Class A2,
              0.574%, 01/15/2020 (P) 411,000 411,259
       Series 2015-2, Class A2,
              0.744%, 01/15/2022 (P) 3,121,000 3,122,252
Honda Auto Receivables Owner Trust
       Series 2013-3, Class A3,
              0.770%, 05/15/2017 1,340,584 1,342,262
       Series 2014-4, Class A4,
              1.460%, 10/15/2020 474,000 475,999
MBNA Credit Card Master Note Trust,
       Series 2004-A3, Class A3
       0.434%, 08/16/2021 (P) 2,385,000 2,374,737
Metropolitan Life Global Funding I,
       Series 2014-B, Class A
       0.610%, 07/15/2019 1,115,000 1,115,037
MMCA Auto Owner Trust, Series 2011-A,
       Class A4
       2.020%, 10/17/2016 (S) 11,969 11,975
Navient Private Education Loan Trust
       Series 2014-AA, Class A2A,
              2.740%, 02/15/2029 (S) 3,299,000 3,325,181
       Series 2015-AA, Class A2A,
              2.650%, 12/15/2028 (S) 845,000 847,513
       Series 2015-AA, Class A2B,
              1.360%, 12/15/2028 (P) (S) 1,607,000 1,614,778
Navient Student Loan Trust
       Series 2014-1, Class A2,
              0.483%, 03/27/2023 (P) 1,040,000 1,036,829
       Series 2014-8, Class A2,
              0.613%, 04/25/2023 (P) 1,073,000 1,073,593
Nelnet Student Loan Trust
       Series 2004-3, Class A5,
              0.436%, 10/27/2036 (P) 2,439,373 2,412,250
       Series 2004-4, Class A5,
              0.416%, 01/25/2037 (P) 1,549,040 1,532,095
       Series 2005-1, Class A5,
              0.366%, 10/25/2033 (P) 641,000 626,095
       Series 2005-2, Class A5,
              0.364%, 03/23/2037 (P) 1,385,000 1,350,511
       Series 2005-3, Class A5,
              0.384%, 12/24/2035 (P) 1,501,000 1,472,262
       Series 2006-1, Class A4,
              0.351%, 11/23/2022 (P) 729,043 728,280
       Series 2006-2, Class A4,
              0.336%, 10/26/2026 (P) 1,542,154 1,540,969
       Series 2010-4, Class A,
              0.973%, 04/25/2046 (P) (S) 681,784 690,584
SLC Student Loan Trust, Series 2007-2,
       Class A2
       0.657%, 05/15/2028 (P) 547,719 547,129
SLM Private Education Loan Trust
       Series 2012-D, Class A2,
              2.950%, 02/15/2046 (S) 1,605,000 1,654,160
       Series 2012-E, Class A2B,
              1.924%, 06/15/2045 (P) (S) 2,433,000 2,501,253
       Series 2013-C, Class A2A,
              2.940%, 10/15/2031 (S) 867,000 892,251
       Series 2014-A, Class A1,
              0.774%, 07/15/2022 (P) (S) 527,861 528,275
       Series 2014-A, Class A2A,
              2.590%, 01/15/2026 (S) 1,520,000 1,553,341
SLM Student Loan Trust
       Series 2004-3, Class A5,
              0.426%, 07/25/2023 (P) 2,214,485 2,205,729
       Series 2005-5, Class A3,
              0.356%, 04/25/2025 (P) 384,712 383,347
       Series 2005-6, Class A5B,
              1.456%, 07/27/2026 (P) 714,958 723,575
       Series 2005-6, Class A6,
              0.396%, 10/27/2031 (P) 1,320,000 1,282,760
       Series 2005-9, Class A5,
              0.376%, 01/27/2025 (P) 778,344 776,355
       Series 2006-3, Class A5,
              0.356%, 01/25/2021 (P) 1,857,000 1,829,879
       Series 2007-2, Class B,
              0.426%, 07/25/2025 (P) 682,000 596,254

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Core Bond Trust (continued)

Shares or
Principal
Amount		       Value
ASSET BACKED SECURITIES (continued)
SLM Student Loan Trust (continued)
       Series 2007-7, Class A4,
              0.326%, 04/25/2022 (P) $ 108,000 $ 107,961
       Series 2008-5, Class A3,
              1.556%, 01/25/2018 (P) 377,591 379,075
       Series 2010-1, Class A,
              0.573%, 03/25/2025 (P) 2,277,376 2,273,762
       Series 2012-6, Class A3,
              0.923%, 05/26/2026 (P) 1,322,000 1,329,379  
       Series 2012-6, Class B,
              1.173%, 04/27/2043 (P) 1,228,000 1,148,934
       Series 2013-1, Class B,
              1.973%, 11/25/2043 (P) 336,000 337,058
       Series 2013-2, Class B,
              1.673%, 06/25/2043 (P) 1,009,000 995,606
       Series 2013-3, Class A2,
              0.473%, 05/26/2020 (P) 1,225,000 1,223,116
       Series 2013-3, Class B,
              1.673%, 09/25/2043 (P) 993,000 970,967
       Series 2013-5, Class A2,
              0.573%, 10/26/2020 (P) 1,553,000 1,554,890
       Series 2013-6, Class A2,
              0.673%, 02/25/2021 (P) 864,000 864,429
       Series 2013-A, Class A1,
              0.775%, 08/15/2022 (P) (S) 143,986 144,113
       Series 2013-B, Class A1,
              0.824%, 07/15/2022 (P) (S) 1,006,934 1,008,434
       Series 2014-1, Class A2,
              0.553%, 07/26/2021 (P) 1,642,000 1,642,737
       Series 2014-2, Class A3,
              0.763%, 03/26/2029 (P) 1,433,000 1,437,697
Synchrony Credit Card Master Note Trust,
       Series 2012-5, Class A
       0.950%, 06/15/2018 3,273,000 3,275,710
Trade Maps 1, Ltd., Series 2013-1A, Class A
       0.875%, 12/10/2018 (P) (S) 2,120,000 2,118,798
TOTAL ASSET BACKED SECURITIES (Cost $154,717,163) $ 155,369,046
 
SECURITIES LENDING COLLATERAL - 0.0%
John Hancock
       Collateral Trust, 0.1102% (W) (Y) 12,039 120,446
TOTAL SECURITIES LENDING
COLLATERAL (Cost $120,446) $ 120,446
 
SHORT-TERM INVESTMENTS - 3.5%
Money market funds - 3.5%
State Street Institutional Liquid Reserves
       Fund, 0.0986% (Y) $ 35,775,420 35,775,420
TOTAL SHORT-TERM INVESTMENTS (Cost $35,775,420) $ 35,775,420
Total Investments (Core Bond Trust)
       (Cost $1,098,586,356) - 110.3% $ 1,116,269,781
Other assets and liabilities, net - (10.3%) (104,065,593 )
TOTAL NET ASSETS - 100.0% $ 1,012,204,188

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 $ 679
Consumer staples - 0.0%
Food products - 0.0%
Chaoda Modern Agriculture Holdings, Ltd. (I) 28,480 1,618
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. (I) 16,061 61
Metals and mining - 0.0%
China Metal Recycling Holdings, Ltd. (I) 7,800 0
61
Materials - 0.0%
Metals and mining - 0.0%
Timminco, Ltd. (I) 300 0
TOTAL COMMON STOCKS (Cost $100,246) $ 3,043
         
INVESTMENT COMPANIES - 100.0%
John Hancock Variable Insurance Trust (G) - 100.0%
Bond, Series NAV (John Hancock) (A)(1) 84,856,247 1,179,501,839
Strategic Equity Allocation, Series NAV
       (John Hancock) (A)(1) 158,522,923 2,786,832,814
TOTAL INVESTMENT COMPANIES (Cost $3,727,498,481) $ 3,966,334,653
Total Investments (Core Strategy Trust)
       (Cost $3,727,598,727) - 100.0% $ 3,966,337,696
Other assets and liabilities, net - 0.0% 447,437
TOTAL NET ASSETS - 100.0% $ 3,966,785,133

Emerging Markets Value Trust

Shares or
Principal
Amount		       Value
COMMON STOCKS - 97.4%
Australia - 0.0%
MMG, Ltd. (L) 908,000 $ 299,482
299,482
Brazil - 4.8%
Banco ABC Brasil SA (I) 2,049 7,255
Banco Alfa de Investimento SA 35,100 65,547
Banco do Brasil SA 476,024 3,417,057
Bematech SA 89,350 272,119
BHG SA (I) 12,100 70,972
BM&FBovespa SA 971,988 3,398,783
Brasil Brokers Participacoes SA 24,700 21,128
Brasil Pharma SA (I) 46,300 9,865

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Emerging Markets Value Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
Brazil (continued)
BrasilAgro (I) 12,800 $ 35,574
Cia Providencia Industria e Comercio SA (I) 52,100 135,492
Cia Siderurgica Nacional SA 139,521 237,377
Cosan SA Industria e Comercio 37,056 323,821
CR2 Empreendimentos Imobiliarios SA (I) 9,300 7,576
Cyrela Brazil Realty SA Empreendimentos
       e Participacoes 114,700 476,187
Direcional Engenharia SA 21,100 41,254
Duratex SA 90,119 245,660
Even Construtora e Incorporadora SA 261,400 362,015
Ez Tec Empreendimentos e Participacoes SA 3,100 19,601
Fertilizantes Heringer SA (I) 15,250 16,007
Fibria Celulose SA (I) 55,198 781,736
Fibria Celulose SA, ADR (I)(L) 180,847 2,555,368
Forjas Taurus SA (I) 1,415 1,862
Gafisa SA 27,961 18,836
Gafisa SA, ADR (L) 77,709 102,576
Gerdau SA 150,629 370,490
Gerdau SA, ADR 419,641 1,342,851
Hypermarcas SA (I) 95,386 588,775
Industrias Romi SA 111,700 85,047
Itau Unibanco Holding SA 1,100 11,091
JBS SA 669,361 2,978,154
JHSF Participacoes SA 21,100 13,222
Kroton Educacional SA 125,549     404,787
Log-in Logistica Intermodal SA (I) 79,900 84,618
Magnesita Refratarios SA 293,656 215,304
Marfrig Global Foods SA (I) 133,200 168,610
MRV Engenharia e Participacoes SA 180,565 454,305
Paranapanema SA (I) 427,650 395,284
PDG Realty SA Empreendimentos
       e Participacoes (I) 875,989 137,236
Petroleo Brasileiro SA 491,818 1,476,278
Petroleo Brasileiro SA, ADR (L) 671,709 4,036,971
Petroleo Brasileiro SA, ADR 961,096 5,853,075
Porto Seguro SA 14,327 160,483
Profarma Distribuidora de
       Produtos Farmaceuticos SA 18,400 32,343
QGEP Participacoes SA 47,960 98,879
Rodobens Negocios Imobiliarios SA 63,500 146,636
Rossi Residencial SA (I) 63,866 52,229
Santos Brasil Participacoes SA 8,500 29,083
Sao Carlos Empreendimentos
       e Participacoes SA 7,005 67,799
Sao Martinho SA 17,011 206,271
SLC Agricola SA 52,278 286,816
Springs Global Participacoes SA (I) 185,253 46,436
Sul America SA 72,353 322,143
Tecnisa SA 48,022 58,682
Tereos Internacional SA 72,800 17,564
Trisul SA 56,446 54,650
Triunfo Participacoes e Investimentos SA (I) 35,010 36,200
Usinas Siderurgicas de Minas Gerais SA (I) 165,200 1,112,876
Vale SA 1,050,411 5,904,458
Vanguarda Agro SA (I) 170,452 50,203
39,923,517
Chile - 2.1%
CAP SA 20,760 69,876
Cementos BIO BIO SA 50,384 39,533
Cencosud SA 845,364 2,003,425
Cencosud SA, ADR 7,000 49,210
Cia Sud Americana de Vapores SA (I) 4,643,700 181,063
Corpbanca SA 2,106,495 22,330
Cristalerias de Chile SA 56,213 414,059
Empresas CMPC SA 1,362,742 3,741,267
Empresas COPEC SA 40,760 472,085
Empresas Hites SA 46,731 19,830
Empresas Iansa SA 1,776,092 46,784
Empresas La Polar SA (I) 100,593 2,964
Enersis SA, ADR 421,791 6,858,322
Entel Chile SA 1,962 19,922
Gasco SA 115,904 964,704
Inversiones Aguas Metropolitanas SA 215,464 346,778
Latam Airlines Group SA (I) 93,894 770,698
Latam Airlines Group SA, ADR (I)(L) 14,808 119,352
Masisa SA 5,383,654 164,162
PAZ Corp. SA 126,971 81,528
Ripley Corp. SA 552,472 266,284
Salfacorp SA 138,015 105,196
Sigdo Koppers SA 20,631 30,393
Sociedad Matriz SAAM SA 1,923,287 153,986
Socovesa SA 315,706 77,847
Tech Pack SA (I) 92,995 38,086
Vina Concha y Toro SA 31,425 64,667
Vina San Pedro Tarapaca SA 15,156,902 115,478
17,239,829
China - 11.4%
361 Degrees International, Ltd. 523,000 149,825
Agile Property Holdings, Ltd. (L) 963,000 580,030
Agricultural Bank of China, Ltd., H Shares 2,936,000 1,453,591
Air China, Ltd., H Shares 614,000 626,429
Aluminum Corp. of China, Ltd., H Shares (I) 1,374,000 685,572
Angang Steel Company, Ltd., H Shares 828,000 609,323
Anhui Tianda Oil Pipe Company, Ltd.,
       H Shares 135,000 26,349
Asia Cement China Holdings Corp. 265,500 143,173
AVIC International Holdings, Ltd., H Shares (I) 152,000 114,581
Bank of China, Ltd., H Shares 29,072,694 16,806,221
Bank of Communications Company, Ltd.,
       H Shares 3,346,876 2,876,465
Baoye Group Company, Ltd., H Shares 376,000 225,698
BBMG Corp., H Shares 527,500 487,372
Beijing Capital International Airport
       Company, Ltd., H Shares 1,010,000 986,307
Beijing Capital Land, Ltd., H Shares 1,184,000 731,613
Beijing North Star Company, Ltd., H Shares 866,000 284,845
BYD Electronic International Company, Ltd 354,500 447,788
Central China Real Estate, Ltd. 531,732 134,439
China Aoyuan Property Group, Ltd. 1,387,000 247,186
China Automation Group, Ltd. 388,000 45,538
China CITIC Bank Corp., Ltd., H Shares 1,600,775 1,206,818
China Coal Energy Company, Ltd., H Shares 2,185,000 1,205,458
China Communications Construction
       Company, Ltd., H Shares 1,874,555 2,641,343
China Communications Services Corp., Ltd.,
       H Shares 787,200 349,182
China Construction Bank Corp., H Shares 6,541,000 5,428,946
China Dongxiang Group Company, Ltd. 1,955,000 352,894
China Dredging Environment
       Protection Holdings, Ltd. (I) 116,000 28,180
China Everbright Bank Company, Ltd.,
       H Shares 55,000 30,297
China Great Star International, Ltd. (I)(L) 23,679 56,759
China Huiyuan Juice Group, Ltd. (I) 700,000 234,311
China ITS Holdings Company, Ltd. 528,000 67,590

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Emerging Markets Value Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
China (continued)
China Merchants Bank Company, Ltd.,
       H Shares 943,144 $ 2,302,817
China National Building Material
       Company, Ltd., H Shares 2,190,000 2,178,586
China National Materials Company, Ltd.,
       H Shares 832,000 234,968
China Petroleum & Chemical Corp., ADR 133,175 10,612,716
China Qinfa Group, Ltd. 424,000 14,243
China Railway Construction Corp., Ltd.,
       H Shares 907,165 1,352,419
China Railway Group, Ltd., H Shares 1,171,000 1,197,685
China Rare Earth Holdings, Ltd. (I) 1,000,000 159,454
China SCE Property Holdings, Ltd. 535,200 96,716
China Shanshui Cement Group, Ltd. (L) 1,166,000 813,551
China Shipping Container Lines Company, Ltd.,
       H Shares (I) 1,808,150 574,062
China Shipping Development Company, Ltd.,
       H Shares (I) 530,000 386,871
China Southern Airlines Company, Ltd.,
       H Shares 778,000 562,023
China Taifeng Beddings Holdings, Ltd. 204,000 28,419
China Tontine Wines Group, Ltd. (I) 248,000 8,653
China Yurun Food Group, Ltd. (I) 835,000 243,414
China ZhengTong Auto Services Holdings, Ltd. 277,500 131,578
China Zhongwang Holdings, Ltd. (L) 876,000 391,961
Chongqing Iron & Steel Company, Ltd.,
       H Shares (I) 286,000 67,640
Chongqing Machinery & Electric
       Company, Ltd., H Shares 632,000 103,233
Chu Kong Petroleum & Natural Gas Steel
       Pipe Holdings, Ltd. 312,000 67,213
CNOOC, Ltd. 374,000 527,836
CNOOC, Ltd., ADR 1,103 156,427
Comtec Solar Systems Group, Ltd. (I) 492,000 64,030
Dalian Port PDA Company, Ltd., H Shares 586,000 246,438
Daphne International Holdings, Ltd. 172,000 57,717
Dongyue Group, Ltd. 310,000 111,894
Evergrande Real Estate Group, Ltd. (L) 4,357,000 2,196,267
Evergreen International Holdings, Ltd. 122,000 10,823
Fantasia Holdings Group Company, Ltd. 763,500 91,533
Fosun International, Ltd. 549,500 1,063,189
Fufeng Group, Ltd. 225,200 136,688
GOME Electrical Appliances Holding, Ltd. 2,937,000 423,076
Greenland Hong Kong Holdings, Ltd. 353,625 209,373
Greentown China Holdings, Ltd. (L) 397,000 356,578
Guangshen Railway Company, Ltd., ADR 34,794 804,437
Guangzhou Automobile Group Company, Ltd.,
       H Shares 454,415 434,119
Guangzhou R&F Properties Company, Ltd.,
       H Shares 736,400 756,734
Guodian Technology & Environment
       Group Corp., Ltd., H Shares 219,000 29,353
Harbin Electric Company, Ltd., H Shares 786,000 488,224
Hidili Industry
       International Development, Ltd. (I) 1,278,000 97,092
HNA Infrastructure Company, Ltd. 188,000 173,449
Industrial & Commercial Bank of China, Ltd.,
       H Shares 12,424,000 9,189,814
Jiangxi Copper Company, Ltd., H Shares 532,000 988,774
Jingwei Textile Machinery, H Shares 16,000 21,412
Kaisa Group Holdings, Ltd. 1,062,000 213,697
KWG Property Holding, Ltd. 1,059,013 751,323
Leoch International Technology, Ltd. (I) 102,000 13,277
Lianhua Supermarket Holdings Company, Ltd.,
       H Shares 114,000 58,276
Lingbao Gold Company, Ltd., H Shares 68,000 10,944
Lonking Holdings, Ltd. 1,208,000 246,497
Maanshan Iron & Steel Company, Ltd.,
       H Shares (I) 1,652,000 475,563
Maoye International Holdings, Ltd. 1,161,000 184,318
Metallurgical Corp. of China, Ltd., H Shares 1,457,000 535,612
O-Net Communications Group, Ltd. 244,000 65,225
Parkson Retail Group, Ltd. 807,000 174,877
Peak Sport Products Company, Ltd. 429,000 121,809
Powerlong Real Estate Holdings, Ltd. 748,000 125,562
Qunxing Paper Holdings Company, Ltd. (I) 634,371 168,890
Renhe Commercial
       Holdings Company, Ltd. (I)(L) 6,306,000 296,557
Sany Heavy Equipment International
       Holdings Company, Ltd. (L) 451,000 102,825
Semiconductor
       Manufacturing International Corp. (I) 2,946,000 286,152
Semiconductor Manufacturing
       International Corp., ADR (I) 127,896 604,948
Shandong Chenming Paper Holdings, Ltd.,
       H Shares 335,500 186,338
Shanghai Jin Jiang International Hotels Group
       Company, Ltd., H Shares 254,000 81,789
Shanghai Prime Machinery Company, Ltd.,
       H Shares 962,000 200,173
Shengli Oil & Gas Pipe Holdings, Ltd. 268,500 12,781
Shui On Land, Ltd. 3,828,961 903,723
Sijia Group Company (I) 93,000 16,434
Sino-Ocean Land Holdings, Ltd. 2,989,651 1,808,540
Sinotrans, Ltd., H Shares 897,000 515,623
Sinotruk Hong Kong, Ltd. 818,000 488,467
SOHO China, Ltd. 1,833,500 1,248,781
Sunac China Holdings, Ltd. 640,000 555,261
Tiangong International Company, Ltd. (L) 624,000 101,443
Tianneng Power International, Ltd. 592,000 198,227
Tonly Electronics Holdings, Ltd. 2,280 1,725
TravelSky Technology, Ltd., H Shares 417,500 480,602
Weiqiao Textile Company, H Shares 596,500 350,280
West China Cement, Ltd. 1,894,000 285,698
Winsway Enterprises Holdings, Ltd. (I) 1,112,000 33,631
Xiamen International Port Company, Ltd.,
       H Shares 1,320,000 374,725
Xingda International Holdings, Ltd. 607,000 166,372
Xinhua Winshare Publishing and Media
       Company, Ltd., H Shares 588,000 572,933
Xinjiang Xinxin Mining Industry
       Company, Ltd., H Shares (I) 903,000 164,328
XTEP International Holdings, Ltd. 47,000 14,636
Yanzhou Coal Mining Company, Ltd., H Shares 932,000 791,408
Yuanda China Holdings, Ltd. 830,000 61,045
Yuzhou Properties Company, Ltd. 325,080 77,156
Zhejiang Glass Company, Ltd., H Shares (I) 162,000 0
Zhong An Real Estate, Ltd. 801,600 88,017
Zoomlion Heavy Industry Science and
       Technology Company, Ltd., H Shares 790,400 545,266
94,189,376
Colombia - 0.3%
Cementos Argos SA 12,272 40,262
Ecopetrol SA 272,699 207,146
Grupo Argos SA 50,560 323,584
Grupo de Inversiones Suramericana SA 105,279 1,358,909

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Emerging Markets Value Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
Colombia (continued)
Grupo Nutresa SA 17,757 $ 156,398
2,086,299
Czech Republic - 0.5%
CEZ AS 100,718 2,461,949
Pegas Nonwovens SA 16,895 460,876
Unipetrol AS (I) 189,925 935,396
3,858,221
Greece - 0.1%
Alpha Bank AE (I) 763,430 226,139
Bank of Greece 1,882 19,372
Ellaktor SA (I) 80,249 152,942
GEK Terna Holding Real
       Estate Construction SA (I) 57,356 106,475
Hellenic Petroleum SA 50,445 192,163
Intracom Holdings SA (I) 102,565 45,855
Marfin Investment Group Holdings SA (I) 448,897 62,984
Mytilineos Holdings SA (I) 54,223 324,309
Piraeus Bank SA (I) 16,371 6,318
1,136,557
Hong Kong - 3.7%
AMVIG Holdings, Ltd. 494,000 220,049
Anxin-China Holdings, Ltd. 1,648,000 81,871
Asian Citrus Holdings, Ltd. 499,000 40,506
C C Land Holdings, Ltd. 1,048,084 194,481
Carrianna Group Holdings Company, Ltd. 182,675 23,832
Chaoda Modern Agriculture Holdings, Ltd. (I) 3,056,474 173,470
Chigo Holding, Ltd. (I) 2,796,000 51,557
China Aerospace International Holdings, Ltd. 1,971,200 258,789
China Agri-Industries Holdings, Ltd. 1,232,300 477,363
China Everbright, Ltd. 252,000 656,768
China Fiber Optic Network System Group, Ltd. 334,000 90,368
China Glass Holdings, Ltd. 238,000 26,383
China High Precision
       Automation Group, Ltd. (I) 18,000 2,879
China High Speed Transmission Equipment
       Group Company, Ltd. (I) 861,000 595,136
China Lumena New Materials Corp. (I)(L) 2,036,000 328,275
China Merchants Land, Ltd. (L) 942,000 143,524
China New Town
       Development Company, Ltd. (I) 1,505,165 66,739
China Ocean Resources Company, Ltd. (I)(L) 22,990 77,369
China Oceanwide Holdings, Ltd. (L) 732,000 93,164
China Precious Metal Resources
       Holdings Company, Ltd. (I)(L) 1,726,000 142,114
China Properties Group, Ltd. (I) 724,000 116,709
China Resources Enterprise, Ltd. 60,000 117,639
China South City Holdings, Ltd. 556,000 182,078
China Tianyi Holdings, Ltd. (I) 248,000 31,716
China Travel International Investment
       Hong Kong, Ltd. 3,106,000 1,011,402
China Unicom Hong Kong, Ltd. 1,202,000 1,829,797
China Unicom Hong Kong, Ltd., ADR (L) 151,861 2,317,399
China Vanadium Titano - Magnetite
       Mining Company, Ltd. 548,000 48,048
CITIC Resources Holdings, Ltd. (I) 2,644,000 368,156
CITIC, Ltd. 362,130 619,816
Citychamp Watch & Jewellery Group, Ltd. 716,000 75,709
Clear Media, Ltd. 52,000 54,823
Coastal Greenland, Ltd. (I) 780,000 20,228
Concord New Energy Group, Ltd. (I) 390,000 27,025
COSCO International Holdings, Ltd. 925,625 431,208
COSCO Pacific, Ltd. 1,143,265 1,497,555
DaChan Food Asia, Ltd. (I) 612,000 63,951
Dah Chong Hong Holdings, Ltd. 432,000 212,871
Dynasty Fine Wines Group, Ltd. (I) 330,000 61,295
Franshion Properties China, Ltd. 2,908,000 881,888
Global Bio-Chem Technology
       Group Company, Ltd. (I) 2,520,000 68,381
Global Sweeteners Holdings, Ltd. (I) 148,000 6,576
Glorious Property Holdings, Ltd. (I) 2,284,000 312,676
Golden Meditech Holdings, Ltd. 630,364 92,629
Goldlion Holdings, Ltd. 261,000 115,102
Heng Tai Consumables Group, Ltd. (I) 2,800,634 31,488
Hengdeli Holdings, Ltd. (L) 968,000 179,788
HKC Holdings, Ltd. (I) 4,298,149 141,387
Hopson Development Holdings, Ltd. (I) 794,000 572,991
Inspur International, Ltd. 488,000 110,359
Ju Teng International Holdings, Ltd. 528,000 308,196
Kingboard Chemical Holdings, Ltd. 660,630 1,045,485
Kingboard Laminates Holdings, Ltd. 546,500 221,863
Lai Fung Holdings, Ltd. 9,146,216 169,625
Loudong General Nice Resources
       China Holdings, Ltd. (I) 590,400 45,012
MIE Holdings Corp. 644,000 65,590
Min Xin Holdings, Ltd. 116,000 88,066
Mingyuan Medicare
       Development Company, Ltd. (I) 1,300,000 38,573
Minmetals Land, Ltd. 798,000 93,628
Nan Hai Corp., Ltd. (I) 27,150,000 139,524
New World China Land, Ltd. 2,143,200 1,370,716
New World Department Store China, Ltd. 175,000 43,565
Nine Dragons Paper Holdings, Ltd. 1,124,000 702,844
Poly Property Group Company, Ltd. 1,420,453 690,446
Pou Sheng International Holdings, Ltd. (I) 1,036,000 70,901
Prosperity International Holdings HK, Ltd. (I) 1,320,000 38,173
Qingling Motors Company, Ltd. 1,014,000 370,116
Real Nutriceutical Group, Ltd. 613,000 175,627
REXLot Holdings, Ltd. 14,231 1,063
Rotam Global Agrosciences, Ltd. 7,854 11,582
Samson Holding, Ltd. 529,548 73,109
Shanghai Industrial Holdings, Ltd. 426,000 1,313,137
Shanghai Industrial Urban
       Development Group, Ltd. (I) 775,000 141,783
Shanghai Zendai Property, Ltd. (I) 2,530,000 80,509
Shenzhen International Holdings, Ltd. 652,967 984,681
Shenzhen Investment, Ltd. 2,433,506 901,628
Shimao Property Holdings, Ltd. 189,000 396,578
Shougang Concord International
       Enterprises Company, Ltd. (I) 4,306,000 194,181
Shougang Fushan Resources Group, Ltd. 2,202,000 448,521
Silver Grant International Industries, Ltd. 1,072,000 152,321
SIM Technology Group, Ltd. (I) 975,000 50,268
Sino Oil and Gas Holdings, Ltd. (I) 6,490,000 148,801
Sinofert Holdings, Ltd. 1,934,000 392,134
Sinolink Worldwide Holdings, Ltd. (I) 2,292,000 180,372
Sinotrans Shipping, Ltd. 842,000 195,431
Skyworth Digital Holdings, Ltd. 831,825 653,376
SMI Holdings Group, Ltd. 1,280,000 52,832
Solargiga Energy Holdings, Ltd. (I) 354,000 14,847
SRE Group, Ltd. 3,206,857 81,995
TCC International Holdings, Ltd. 696,000 253,212
TCL Multimedia Technology Holdings, Ltd. 325,200 261,554
Tian An China Investment Company, Ltd. 707,000 442,207
Tianjin Port Development Holdings, Ltd. 942,000 202,823

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Emerging Markets Value Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
Hong Kong (continued)
Tomson Group, Ltd. 408,805 $ 97,526
TPV Technology, Ltd. 583,684 133,517
V1 Group, Ltd. (I) 719,400 56,430
Yanchang Petroleum International, Ltd. (I) 2,560,000 95,775
Yuexiu Property Company, Ltd. 6,827,542 1,339,714
30,375,184
Hungary - 0.2%
Danubius Hotel and Spa PLC (I) 2,668 53,628
MOL Hungarian Oil & Gas PLC 8,364 362,155
OTP Bank PLC 46,709 881,800
1,297,583
India - 9.7%
Aarti Industries 51,087 283,103
Aban Offshore, Ltd. 15,263 103,517
ABG Shipyard, Ltd. (I) 8,406 30,248
Adani Enterprises, Ltd. 164,157 1,612,896
Adani Power, Ltd. (I) 124,232 93,794
Aditya Birla Nuvo, Ltd. 55,261 1,471,402
Allahabad Bank (I) 149,395 236,634
Alok Industries, Ltd. (I) 568,576 67,295
Amtek Auto, Ltd. 126,615 293,131
Amtek India, Ltd. 21,314 18,725
Anant Raj, Ltd. 54,720 34,622
Andhra Bank 157,154 198,671
Apollo Tyres, Ltd. 226,563 608,796
Arvind, Ltd. 118,136 493,770
Ashok Leyland, Ltd. 722,040 844,509
Atul, Ltd. 3,642 64,637
Bajaj Finance, Ltd. 9,747 642,352
Bajaj Finserv, Ltd. 14,693 331,980
Bajaj Hindusthan Sugar, Ltd. (I) 306,648 70,831
Bajaj Holdings & Investment, Ltd. 48,696 1,009,615
Ballarpur Industries, Ltd. 403,880 87,446
Balmer Lawrie & Company, Ltd. 8,925 80,566
Balrampur Chini Mills, Ltd. (I) 190,941 152,033
Bank of Baroda 417,615 1,103,420
Bank of India (I) 114,231 355,903
Bank of Maharashtra (I) 152,501 90,544
BEML, Ltd. 14,453 256,020
BGR Energy Systems, Ltd. 7,989 15,078
Bharat Heavy Electricals, Ltd. 379,212 1,435,386
Bharti Airtel, Ltd. 191,919 1,207,239
Bhushan Steel, Ltd. 41,175 43,111
Birla Corp., Ltd. 41,435 267,636
Bombay Burmah Trading Company 4,912 34,562
Bombay Dyeing &
       Manufacturing Company, Ltd. 60,098 60,951
Cairn India, Ltd. 500,316 1,720,395
Canara Bank 85,172 500,222
Central Bank of India (I) 54,446 92,515
Century Textiles & Industries, Ltd. 34,929 356,078
Chambal Fertilizers & Chemicals, Ltd. 88,262 95,596
City Union Bank, Ltd. 185,947 287,323
Claris Lifesciences, Ltd. (I) 3,599 14,888
Corp. Bank 58,450 48,396
Cox & Kings, Ltd. 28,668 148,264
Crompton Greaves, Ltd. 11,838 31,385
Dalmia Bharat, Ltd. 12,925 87,548
DB Realty, Ltd. (I) 35,138 37,396
DCB Bank, Ltd. (I) 121,079 214,148
DCM Shriram, Ltd. 39,804 69,103
Deepak Fertilisers & Petrochemicals Corp., Ltd. 28,839 63,499
DEN Networks, Ltd. (I) 8,545 16,589
Dena Bank 77,102 62,678
DLF, Ltd. 277,078 696,056
Edelweiss Financial Services, Ltd. 304,550 311,278
EID Parry India, Ltd. 80,296 224,687
EIH, Ltd. 25,377 43,441
Electrosteel Castings, Ltd. 89,970 27,403
Eros International Media, Ltd. (I) 10,300 66,032
Escorts, Ltd. 44,637 90,440
Essar Oil, Ltd. (I) 44,458 77,459
Essar Ports, Ltd. 31,778 62,545
Essel Propack, Ltd. 37,352 74,470
Federal Bank, Ltd. 775,371 1,635,457
Financial Technologies India, Ltd. 12,955 39,328
Finolex Cables, Ltd. 54,200 245,687
Finolex Industries, Ltd. 23,537 106,617
Firstsource Solutions, Ltd. (I) 137,281 67,740
Fortis Healthcare, Ltd. (I) 83,364 219,334
GAIL India, Ltd. 208,331 1,296,273
Gateway Distriparks, Ltd. 10,919 71,329
Graphite India, Ltd. 75,117 99,648
Grasim Industries, Ltd. 28,107 1,775,159
GTL Infrastructure, Ltd. (I) 100,276 3,195
Gujarat Alkalies & Chemicals, Ltd. 24,028 61,578
Gujarat Fluorochemicals, Ltd. 11,921 134,685
Gujarat Mineral Development Corp., Ltd. 56,366 101,510
Gujarat Narmada Valley Fertilizers
       & Chemicals, Ltd. 66,143 71,680
Gujarat NRE Coke, Ltd. (I) 28,495 2,370
Gujarat State Fertilisers & Chemicals, Ltd. 105,690 140,107
Gujarat State Petronet, Ltd. 109,920 216,033
HCL Infosystems, Ltd. (I) 72,447 59,825
HEG, Ltd. 12,877 45,263
HeidelbergCement India, Ltd. (I) 4,823 5,717
Hexa Tradex, Ltd. (I) 32,971 12,472
Hindalco Industries, Ltd. 711,333 1,461,938
Hinduja Ventures, Ltd. 5,620 36,689
Hindustan Construction Company, Ltd. (I) 182,894 94,881
Hotel Leela Venture, Ltd. (I) 112,448 33,510
Housing Development & Infrastructure, Ltd. (I) 220,761 357,225
HSIL, Ltd. 5,997 42,585
HT Media, Ltd. 10,959 21,486
ICICI Bank, Ltd. 1,213,894 6,132,192
IDBI Bank, Ltd. 267,194 302,091
Idea Cellular, Ltd. 155,796 455,853
IDFC, Ltd. 119,156 323,265
IFCI, Ltd. 181,420 96,612
IIFL Holdings, Ltd. 213,160 604,557
IL&FS Transportation Networks, Ltd. 10,458 32,510
Indiabulls Housing Finance, Ltd. 166,834 1,480,494
Indian Bank 70,234 195,835
Indian Hotels Company, Ltd. 275,375 515,476
Indian Overseas Bank 220,666 149,442
ING Vysya Bank, Ltd. 16,192 241,918
Ingersoll-Rand India, Ltd. 13,868 225,557
Intellect Design Arena, Ltd. (I) 46,452 79,433
Jain Irrigation Systems, Ltd. 143,549 141,177
Jaiprakash Associates, Ltd. (I) 796,755 316,672
Jaypee Infratech, Ltd. (I) 123,242 33,380
JB Chemicals & Pharmaceuticals, Ltd. 20,800 66,237
JBF Industries, Ltd. 8,304 27,959
Jindal Saw, Ltd. 152,797 161,330
Jindal Steel & Power, Ltd. 339,474 845,093

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Emerging Markets Value Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
India (continued)
JK Cement, Ltd. 8,306 $ 89,237
JK Lakshmi Cement, Ltd. 13,182 75,577
JM Financial, Ltd. 124,021 94,676
JSW Energy, Ltd. 408,574 774,679
JSW Steel, Ltd. 93,372 1,351,390
Jubilant Life Sciences, Ltd. 53,395 130,981
Kalpataru Power Transmission, Ltd. 20,383 70,557
KEC International, Ltd. 41,793 53,236
Kesoram Industries, Ltd. (I) 57,260 107,045
KRBL, Ltd. 6,060 16,044
Mahanagar Telephone Nigam, Ltd. (I) 22,519 6,600
Maharashtra Seamless, Ltd. 38,253 120,367
Mahindra & Mahindra, Ltd. 9,477 179,446
Mahindra Lifespace Developers, Ltd. 10,600 78,998
Max India, Ltd. 4,595 31,976
McLeod Russel India, Ltd. 48,101 184,095
Mercator, Ltd. 150,335 40,322
MOIL, Ltd. 3,305 14,503
Mphasis, Ltd. 13,246 82,555
MRF, Ltd. 748 461,210
Nagarjuna Fertilizers & Chemicals, Ltd. (I) 138,250 23,397
Nagarjuna Oil Refinery, Ltd. (I) 125,682 8,244
National Aluminium Company, Ltd. 108,688 81,073
Nava Bharat Ventures, Ltd. 1,614 4,584
NCC, Ltd. 263,914 468,915
NIIT Technologies, Ltd. 11,765 65,399
NIIT, Ltd. 19,897 11,393
Noida Toll Bridge Company, Ltd. 14,396 7,705
Oberoi Realty, Ltd. 5,055 22,894
Omaxe, Ltd. 57,500 123,088
Orient Cement, Ltd. 58,165 166,685
Oriental Bank of Commerce 82,698 269,684
Parsvnath Developers, Ltd. (I) 76,316 22,332
Peninsula Land, Ltd. 39,087 17,316
Petronet LNG, Ltd. 47,029 129,423
Piramal Enterprises, Ltd. 52,252 727,917
Plethico Pharmaceuticals, Ltd. (I) 7,219 2,985
Polaris Consulting & Services, Ltd. 46,452 122,398
Polyplex Corp., Ltd. 3,400 10,247
Praj Industries, Ltd. 42,222 42,099
Prism Cement, Ltd. (I) 42,974 68,750
PTC India Financial Services, Ltd. 29,410 26,062
PTC India, Ltd. 233,522 296,050
Punj Lloyd, Ltd. (I) 165,098 77,636
Puravankara Projects, Ltd. 10,348 10,246
Rain Industries, Ltd. 46,818 21,547
Rattanindia Infrastructure, Ltd. (I) 476,680 15,977
Raymond, Ltd. 30,886 218,131
Redington India, Ltd. 37,404 77,918
REI Agro, Ltd. (I) 214,503 2,219
Reliance Communications, Ltd. (I) 345,117 325,804
Reliance Industries, Ltd. 260,778 3,431,164
Reliance Industries, Ltd., GDR (S) 287,121 7,580,368
Reliance Power, Ltd. (I) 578,727 521,966
Rolta India, Ltd. 99,109 256,611
Ruchi Soya Industries, Ltd. 125,412 90,265
Sadbhav Engineering, Ltd. 17,023 89,737
Sesa Sterlite, Ltd. 261,131 797,045
Sesa Sterlite, Ltd., ADR 212,366 2,633,338
Shipping Corp. of India, Ltd. (I) 104,070 77,366
Shree Renuka Sugars, Ltd. (I) 23,731 4,831
Sintex Industries, Ltd. 97,140 187,600
Sobha, Ltd. 40,327 259,240
Srei Infrastructure Finance, Ltd. 247,892 169,390
SRF, Ltd. 24,910 397,161
State Bank of Bikaner & Jaipur 899 8,429
State Bank of India 956,730 4,073,927
State Bank of India, GDR 510 21,573
Sterlite Technologies, Ltd. 72,209 63,365
Strides Arcolab, Ltd. 7,164 136,683
Sundram Fasteners, Ltd. 12,928 36,252
Syndicate Bank 171,937 277,720
Tata Chemicals, Ltd. 96,921 690,667
Tata Communications, Ltd. 1,529 10,352
Tata Global Beverages, Ltd. 430,885 1,025,134
Tata Motors, Ltd. 296,094 2,586,163
Tata Steel, Ltd. 344,558 1,743,091
Tata Steel, Ltd., GDR 743 3,802
The Great Eastern Shipping Company, Ltd. 82,759 483,656
The India Cements, Ltd. (I) 234,560 322,870
The Jammu & Kashmir Bank, Ltd. 332,066 500,425
The Karnataka Bank, Ltd. 146,030 291,037
The Karur Vysya Bank, Ltd. 30,968 270,057
The Lakshmi Vilas Bank, Ltd. 30,751 49,756
The Ramco Cements, Ltd. 36,000 175,650
The South Indian Bank, Ltd. 1,087,021 437,532
Time Technoplast, Ltd. 4,194 3,282
Tube Investments of India, Ltd. 4,492 26,395
TV18 Broadcast, Ltd. (I) 248,227 119,946
UCO Bank 85,194 87,344
Uflex, Ltd. 10,885 20,377
Union Bank of India 169,587 422,629
Unitech, Ltd. (I) 227,324 58,536
UPL, Ltd. 227,990 1,609,465
Usha Martin, Ltd. (I) 154,885 56,377
Uttam Galva Steels, Ltd. (I) 13,863 10,163
Vardhman Textiles, Ltd. 8,101 69,909
Videocon Industries, Ltd. (I) 101,586 253,317
Vijaya Bank 83,311 62,652
Voltas, Ltd. 31,368 140,161
Welspun Corp., Ltd. 55,523 47,853
Welspun Enterprises, Ltd. (I) 2,776 15,698
Wockhardt, Ltd. 7,433 220,180
Zensar Technologies, Ltd. 2,138 22,093
Zuari Agro Chemicals, Ltd. 9,200 33,026
80,521,899
Indonesia - 3.3%
Adaro Energy Tbk PT 16,373,500 1,186,616
Agung Podomoro Land Tbk PT 5,405,000 181,742
Alam Sutera Realty Tbk PT 10,411,400 441,119
Aneka Tambang Persero Tbk PT 5,436,600 358,930
Asahimas Flat Glass Tbk PT 65,500 38,556
Bakrie and Brothers Tbk PT (I) 121,836,489 465,914
Bakrie Sumatera Plantations Tbk PT (I) 11,376,500 43,493
Bakrie Telecom Tbk PT (I) 24,850,000 95,029
Bakrieland Development Tbk PT (I) 41,455,500 158,530
Bank Bukopin Tbk PT 4,493,500 243,733
Bank Danamon Indonesia Tbk PT 4,079,594 1,598,281
Bank Mandiri Persero Tbk PT 2,434,420 2,321,632
Bank Negara Indonesia Persero Tbk PT 6,062,581 3,347,047
Bank Pan Indonesia Tbk PT (I) 4,924,397 535,556
Bank Pembangunan Daerah Jawa Barat Dan
       Banten Tbk PT 2,121,500 162,374
Bank Tabungan Negara Persero Tbk PT 3,842,861 368,331
Barito Pacific Tbk PT (I) 1,893,500 40,470
Benakat Integra Tbk PT 8,689,500 66,466

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Emerging Markets Value Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)    
Indonesia (continued)    
Berau Coal Energy Tbk PT (I) 2,215,500 $ 12,367
Berlian Laju Tanker Tbk PT (I) 16,708,166   0
BISI International Tbk PT 1,105,000   110,484
Budi Starch & Sweetener Tbk PT (I) 1,493,000   10,728
Bumi Serpong Damai Tbk PT 2,505,200   408,420
Central Proteinaprima Tbk PT (I) 4,606,400   31,329
Ciputra Development Tbk PT 13,649,600   1,537,487
Ciputra Property Tbk PT 1,844,000   106,259
Ciputra Surya Tbk PT 896,000   210,351
Clipan Finance Indonesia Tbk PT (I) 1,045,000   32,431
Darma Henwa Tbk PT (I) 21,675,000 82,887
Delta Dunia Makmur Tbk PT (I) 3,330,800 33,379
Elnusa Tbk PT 3,143,700 127,105
Energi Mega Persada Tbk PT (I) 39,318,681 264,375
Erajaya Swasembada Tbk PT (I) 1,248,500 83,376
Exploitasi Energi Indonesia Tbk PT (I) 1,289,000 9,771
Gajah Tunggal Tbk PT 2,229,300 225,805
Garuda Indonesia Persero Tbk PT (I) 2,909,563 109,442
Global Mediacom Tbk PT 1,930,800 258,043
Harum Energy Tbk PT 811,700   93,073
Hexindo Adiperkasa Tbk PT 110,000   28,989
Holcim Indonesia Tbk PT 1,143,068 133,637
Indah Kiat Pulp & Paper Corp. Tbk PT 2,423,200 184,238
Indika Energy Tbk PT (I) 1,851,000 61,388
Indo Tambangraya Megah Tbk PT 199,400 257,037
Indofood Sukses Makmur Tbk PT 3,679,000 2,095,053
Intiland Development Tbk PT 4,188,900 183,931
Japfa Comfeed Indonesia Tbk PT 899,770 53,627
Kawasan Industri Jababeka Tbk PT 14,873,529 375,965
Krakatau Steel Persero Tbk PT (I) 658,500 21,549
Lippo Karawaci Tbk PT 17,587,293 1,814,578
Medco Energi Internasional Tbk PT 2,465,000 583,804
MNC Investama Tbk PT 18,575,000 424,722
Modernland Realty Tbk PT 1,877,500 73,131
Multipolar Tbk PT 5,511,400 401,990
Nusantara Infrastructure Tbk PT (I) 3,748,800 54,156
Pabrik Kertas Tjiwi Kimia Tbk PT 145,000 8,972
Pan Brothers Tbk PT 344,000 12,468
Panin Financial Tbk PT (I) 19,315,500 498,220
Paninvest Tbk PT (I) 1,627,000 98,000
Perusahaan Perkebunan London Sumatra
       Indonesia Tbk PT 3,514,500 464,132
Petrosea Tbk PT 210,500 12,627
Ramayana Lestari Sentosa Tbk PT 1,938,400 111,005
Salim Ivomas Pratama Tbk PT 4,190,100 224,047
Sampoerna Agro PT 703,500 101,203
Semen Baturaja Persero TBK PT 600,000 16,048
Sentul City Tbk PT (I) 19,986,000 184,673
Sigmagold Inti Perkasa Tbk PT (I) 1,846,000 64,941
Sri Rejeki Isman Tbk PT 426,600 7,474
Surya Semesta Internusa Tbk PT 3,749,600 326,178
Suryainti Permata Tbk PT (I) 1,446,000 0
Tiga Pilar Sejahtera Food Tbk 1,253,300 200,597
Timah Persero Tbk PT 4,287,660 311,470
Trias Sentosa Tbk PT 2,019,500 50,214
Trimegah Securities Tbk PT (I) 870,700 3,932
Truba Alam Manunggal Engineering PT (I) 11,991,500 12,840
Tunas Baru Lampung Tbk PT 1,620,000 79,835
Tunas Ridean Tbk PT 2,272,500 126,006
United Tractors Tbk PT 1,086,200 1,807,612
Vale Indonesia Tbk PT 1,861,600 459,926
Visi Media Asia Tbk PT (I) 939,500 38,440
XL Axiata Tbk PT 456,600 151,710
27,521,296
Malaysia - 4.5%
Affin Holdings Bhd 909,390 725,179
AirAsia BHD 1,186,100 761,622
Alliance Financial Group BHD 283,300 366,009
AMMB Holdings BHD 1,721,562 2,952,992
Ann Joo Resources Bhd 252,200 68,771
Benalec Holdings Bhd 293,500 62,117
Berjaya Corp. Bhd 2,315,900 283,916
BIMB Holdings Bhd 106,000 117,588
Boustead Holdings Bhd 519,776 645,496
Boustead Plantations Bhd 120,100 44,381
Bumi Armada BHD 200,500 55,649
Cahya Mata Sarawak Bhd 266,700 323,241
Can-One Bhd 29,200 22,651
DRB-Hicom Bhd 1,194,900 635,511
Eastern & Oriental Bhd 54,560 29,444
ECM Libra Financial Group Bhd (I) 171,861 47,752
Engtex Group Bhd 41,850 11,169
Faber Group Bhd 106,500 94,860
Genting BHD 701,500 1,702,678
Genting Malaysia BHD 1,651,900 1,884,791
Glomac Bhd 462,600 121,758
Goldis Bhd (I) 324,635 209,837
HAP Seng Consolidated Bhd 822,720 1,010,888
Hap Seng Plantations Holdings Bhd 617,500 433,056
Hong Leong Financial Group BHD 272,000 1,242,649
Hong Leong Industries Bhd 25,000 30,205
Hua Yang Bhd 73,066 40,585
Hume Industries Bhd (I) 27,000 25,871
Hwang Capital Malaysia Bhd 105,200 55,033
IJM Corp. BHD 1,302,680 2,530,810
IJM Land Bhd 234,300 221,426
Inch Kenneth Kajang Rubber 106,800 21,119
Insas Bhd 494,969 117,275
Iris Corp. Bhd (I) 146,900 12,242
Iskandar Waterfront City Bhd (I) 59,700 20,141
JAKS Resources Bhd (I) 246,000 36,779
Jaya Tiasa Holdings Bhd 299,826 134,190
JCY International Bhd 265,600 50,491
K&N Kenanga Holdings Bhd (I) 402,145 65,093
Karambunai Corp. Bhd (I) 1,978,300 31,867
Keck Seng Malaysia Bhd 209,400 306,291
Kian Joo Can Factory Bhd 290,000 241,295
Kim Loong Resources Bhd 32,400 24,750
KLCCP Stapled Group 171,400 323,339
KNM Group Bhd (I) 1,152,000 200,162
KSL Holdings Bhd 551,693 322,667
KUB Malaysia Bhd (I) 463,300 51,112
Kulim Malaysia Bhd 848,900 628,075
Kumpulan Fima Bhd 2,300 1,234
Kumpulan Perangsang Selangor Bhd 171,000 69,087
Kwantas Corp. Bhd 56,000 28,456
Land & General Bhd 163,200 21,980
Landmarks Bhd (I) 351,100 119,153
LBS Bina Group Bhd 210,000 85,556
Lion Industries Corp. Bhd (I) 736,100 93,401
Magnum Bhd 165,500 120,105
Mah Sing Group Bhd 241,280 133,957
Malayan Flour Mills Bhd 132,300 53,863
Malaysia Airports Holdings BHD 99,064 187,197
Malaysian Bulk Carriers Bhd 194,100 63,354

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Emerging Markets Value Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Malaysia (continued)
Malaysian Pacific Industries Bhd 64,375 $ 121,544
Malaysian Resources Corp. Bhd 1,062,000 357,949
MBM Resources Bhd 78,650 69,717
Media Prima Bhd 123,300 56,577
Mega First Corp. Bhd 163,700 111,181
MISC BHD 793,500 1,815,337
MK Land Holdings Bhd 632,500 72,494
MKH Bhd 75,100 55,735
MMC Corp. Bhd 1,118,700 764,418
MNRB Holdings Bhd 10,000 9,675
Mudajaya Group Bhd 201,700 78,881
Muhibbah Engineering M Bhd 5,800 3,437
Mulpha International Bhd (I) 2,509,900 263,943
Naim Holdings Bhd 178,300 127,013
NCB Holdings Bhd 4,100 2,734
Oriental Holdings Bhd 499,020 905,847
OSK Holdings Bhd 808,698 477,951
Panasonic Manufacturing Malaysia Bhd 39,700 248,827
Pantech Group Holdings Bhd 86,200 17,083
Parkson Holdings Bhd (I) 188,561 111,502
Perdana Petroleum Bhd 51,820 17,291
PJ Development Holdings Bhd 258,900 106,762
PPB Group BHD 514,200 2,134,908
Press Metal Bhd 151,400 134,984
Protasco Bhd 172,400 74,378
RHB Capital BHD 179,524 383,311
Rimbunan Sawit Bhd (I) 325,600 49,177
Salcon Bhd 432,400   88,517
Sapurakencana Petroleum BHD 94,500 60,097
Scomi Group Bhd (I) 1,708,300 112,868
Selangor Dredging Bhd 302,400   81,667
Selangor Properties Bhd 105,000 155,440
Shangri-La Hotels Malaysia Bhd 96,000 176,126
Shell Refining Company Federation of
       Malaya Bhd 152,500 200,114
SHL Consolidated Bhd 171,100 144,838
SP Setia Bhd Group 162,427 151,763
Star Publications Malaysia Bhd 37,400 24,724
Sunway Bhd 1,096,496 1,079,808
Supermax Corp. Bhd 54,000 30,591
Suria Capital Holdings Bhd 237,900 150,211
Symphony Life Bhd 184,452 39,749
Ta Ann Holdings Bhd 333,590 351,040
TA Enterprise Bhd 1,903,200 384,551
TA Global Bhd 1,233,900 106,585
Tan Chong Motor Holdings Bhd 42,500 34,761
Tanjung Offshore Bhd (I) 222,400 31,401
TDM Bhd 974,200 206,253
TH Plantations Bhd 36,880 15,827
TIME dotCom Bhd 312,700 500,823
Tiong NAM Logistics Holdings 48,800 14,880
Tropicana Corp. Bhd 307,700 85,427
UEM Sunrise BHD 346,600 128,853
Unisem M Bhd 601,680 353,764
United Malacca Bhd 97,800 170,254
UOA Development Bhd 299,600 178,981
VS Industry Bhd 150,370 172,526
Wah Seong Corp. Bhd 107,451 35,902
WCT Holdings Bhd 614,635 255,495
Wing Tai Malaysia Bhd 124,000 56,986
WTK Holdings Bhd 347,900 110,726
YNH Property Bhd 644,912 330,077
YTL Corp. BHD 4,987,840 2,249,600
YTL Land & Development Bhd (I) 52,700 11,093
37,177,140
Mexico - 5.7%
Alfa SAB de CV, Class A (I) 1,293,804 2,616,701
Alpek SAB de CV (I) 142,911 160,024
Arca Continental SAB de CV (I) 81,650 502,099
Axtel SAB de CV (I)(L) 982,700 313,748
Bio Pappel SAB de CV (I) 41,929 57,368
Cemex SAB de CV, ADR (I) 703,809 6,665,063
Cia Minera Autlan SAB de CV, Series B (I) 72,500 69,489
Coca-Cola Femsa SAB de CV 51,120 407,258
Coca-Cola Femsa SAB de CV, ADR (L) 8,504 679,129
Consorcio ARA SAB de CV (I) 1,104,021 461,773
Controladora Comercial Mexicana SAB de CV 328,408 1,057,769
Corp. Actinver SAB de CV (I) 19,397 20,473
Corp. GEO SAB de CV, Series B (I) 793,874 5,954
Desarrolladora Homex SAB de CV (I) 91,100 3,113
Empresas ICA SAB de CV, ADR (I)(L) 165,566 539,745
Fomento Economico Mexicano SAB de CV (I) 13,507 126,264
Fomento Economico Mexicano SAB
       de CV, ADR (I) 5,203 486,481
Gruma SAB de CV, ADR 4,897 248,817
Grupo Aeromexico SAB de CV (I) 75,581 130,069
Grupo Aeroportuario del Centro Norte
       Sab de CV (I) 58,267 284,392
Grupo Aeroportuario del Pacifico SAB
       de CV, ADR 67,938 4,452,657
Grupo Aeroportuario del Sureste SAB
       de CV, ADR (I) 7,474 1,004,655
Grupo Carso SAB de CV, Series A1 507,570 2,117,662
Grupo Cementos de Chihuahua SAB de CV 35,500 97,748
Grupo Comercial Chedraui SA de CV (I)(L) 155,267 470,173
Grupo Elektra SAB DE CV 18,224 466,642
Grupo Famsa SAB de CV (I) 449,773 318,455
Grupo Financiero Banorte SAB de CV 1,646,277 9,545,136
Grupo Financiero Interacciones SA de CV 43,839 290,162
Grupo Financiero Santander Mexico
       SAB de CV 527,604 1,152,161
Grupo Herdez SAB de CV (I) 38,371 98,761
Grupo Industrial Maseca SAB
       de CV, Series B (L) 53,900 75,973
Grupo Industrial Saltillo SAB de CV (I) 94,000 198,248
Grupo KUO SAB de CV, Series B 164,000 292,444
Grupo Mexico SAB de CV, Series B 1,307,645 3,856,025
Grupo Sanborns SAB de CV 107,475 175,655
Grupo Simec SAB de CV, Series B (I) 132,644 362,709
Industrias Bachoco SAB de CV, ADR (I) 2,653 132,252
Industrias Bachoco SAB de CV, Series B (I) 28,347 117,748
Industrias CH SAB de CV, Series B (I) 198,791 812,966
Industrias Penoles SAB de CV 13,630 236,688
Maxcom Telecomunicaciones SAB de CV (I) 42,100 5,327
Mexichem SAB de CV 374,502 976,674
Minera Frisco SAB de CV (I) 42,325 45,506
OHL Mexico SAB de CV (I)(L) 575,989 1,088,653
Organizacion Cultiba SAB de CV 18,915 24,131
Organizacion Soriana SAB de CV 1,446,279 3,662,750
Qualitas Controladora SAB de CV (I) 123,817 224,037
TV Azteca SAB de CV (I)(L) 500,687 187,427
Urbi Desarrollos Urbanos SAB de CV (I)(L) 662,000 68,138
Vitro SAB de CV (I)(L) 7,784 17,024
47,410,316

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Emerging Markets Value Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Philippines - 1.5%
Alliance Global Group, Inc. 903,600 $ 534,523
Atlas Consolidated Mining
       & Development Corp. 348,700 68,906
BDO Unibank, Inc. 92,400 256,059
Cebu Air, Inc. 57,110 108,664
Century Properties Group, Inc. 1,726,673 35,949
Cosco Capital, Inc. 293,300 58,898
Empire East Land Holdings, Inc. (I) 2,990,000 59,560
Filinvest Development Corp. 211,875 21,531
Filinvest Land, Inc. 17,657,500 711,016
First Philippine Holdings Corp. 406,050 872,072
JG Summit Holdings, Inc. 758,350 1,229,283
Lopez Holdings Corp. 2,984,500 570,541
LT Group, Inc. 534,100 194,416
Megaworld Corp. 11,964,800 1,451,228
Metropolitan Bank & Trust Company 239,618 522,014
Pepsi-Cola Products Philippines, Inc. (I) 130,000 11,864
Petron Corp. 369,500 82,151
Philippine National Bank (I) 416,530 721,441
Philtown Properties, Inc. (I) 3,844 132
Rizal Commercial Banking Corp. 602,800 606,943
Robinsons Land Corp. 2,512,500 1,729,388
San Miguel Corp. 687,930   1,037,544
San Miguel Pure Foods Company, Inc. 7,670 35,013
Top Frontier Investment Holdings, Inc. (I) 74,514 171,436
Trans-Asia Oil & Energy Development Corp. 1,023,000 50,268
Union Bank of the Philippines (I) 354,090 547,972
Vista Land & Lifescapes, Inc. 5,803,000 1,115,198
  12,804,010
Poland - 2.2%
Agora SA (I) 72,582 195,095
Asseco Poland SA 65,833 1,024,275
Bank Millennium SA 236,982 414,701
Bioton SA (I) 45,462 67,957
Ciech SA 31,907 456,326
ComArch SA 1,802 56,614
Enea SA 115,475 503,005
Farmacol SA (I) 10,785 172,084
Firma Oponiarska Debica SA 7,423 149,896
Getin Holding SA (I)(L) 169,278 92,764
Grupa Azoty SA 12,877 275,177
Grupa Kety SA 15,874 1,254,754
Grupa Lotos SA (I) 93,995 671,019
Hawe SA (I) 38,497 20,677
Impexmetal SA (I) 98,393 79,086
Jastrzebska Spolka Weglowa SA (L) 15,280 69,609
KGHM Polska Miedz SA 91,148 2,880,653
Kopex SA (I) 61,117 165,839
LC Corp. SA (I) 155,767 81,437
MCI Management SA (I) 32,259 101,944
Netia SA 309,487 481,722
Orbis SA 45,854 564,454
PGE Polska Grupa Energetyczna SA 728,146 4,000,486
Polimex-Mostostal SA (I) 283,029 5,228
Polnord SA (I) 19,758 47,942
Polski Koncern Miesny Duda SA (I) 2,666 4,788
Polski Koncern Naftowy Orlen SA 219,318 3,423,739
Sygnity SA (I) 6,918 24,072
Tauron Polska Energia SA 944,969 1,098,366
18,383,709
Russia - 2.3%
Gazprom OAO, ADR 3,313,718 15,598,600
Lukoil OAO, ADR 44,694 2,065,680
Magnitogorsk Iron & Steel Works OJSC, GDR 98,730 326,001
RusHydro JSC, ADR 730,848 707,340
VTB Bank OSJC, GDR 21,612 43,426
18,741,047
South Africa - 9.2%
Adcorp Holdings, Ltd. 64,690 169,576
Aeci, Ltd. 55,858 553,252
African Bank Investments, Ltd. 690,372 17,645
African Rainbow Minerals, Ltd. 107,152 871,498
Allied Electronics Corp., Ltd., A Shares 62,999 72,239
Anglo American Platinum, Ltd. (I) 17,076 418,030
AngloGold Ashanti, Ltd., ADR (L) 430,478 4,020,665
ArcelorMittal South Africa, Ltd. (I) 138,452 215,717
Astral Foods, Ltd. 2,792 41,371
Aveng, Ltd. (I)(L) 442,348 410,275
Barclays Africa Group, Ltd. 337,639 5,145,689
Barloworld, Ltd. 258,439 1,972,006
Basil Read Holdings, Ltd. (I) 48,073 10,529
Bell Equipment, Ltd. (I) 18,600 13,542
Blue Label Telecoms, Ltd. 263,306 188,658
Business Connexion Group, Ltd. 100,096 51,381
Caxton and CTP Publishers and Printers, Ltd. 185,300 261,034
Clover Industries, Ltd. 61,156 91,146
Consolidated Infrastructure Group, Ltd. (I) 11,072 23,643
DataTec, Ltd. 259,679 1,284,258
DRDGOLD, Ltd. (L) 348,805 60,966
Eqstra Holdings, Ltd. 216,889 80,837
Exxaro Resources, Ltd. (L) 83,396 688,616
Gold Fields, Ltd., ADR 784,509 3,145,881
Grindrod, Ltd. 529,374 758,805
Group Five, Ltd. 94,236 195,499
Harmony Gold Mining Company, Ltd., ADR (I) 319,915 556,652
Hudaco Industries, Ltd. 16,112 150,288
Hulamin, Ltd. 112,965 78,916
Iliad Africa, Ltd. 124,370 79,246
Illovo Sugar, Ltd. (I) 33,020 64,690
Impala Platinum Holdings, Ltd. 361,816 1,749,577
Imperial Holdings, Ltd. 34,693 550,043
Investec, Ltd. 204,830 1,695,042
JD Group, Ltd. 234,391 514,692
KAP Industrial Holdings, Ltd. 146,538 64,412
Lewis Group, Ltd. (L) 97,828 623,017
Liberty Holdings, Ltd. 126,115 1,743,535
Merafe Resources, Ltd. 2,077,434 135,422
Metair Investments, Ltd. 50,105 138,624
MMI Holdings, Ltd. 958,249 2,593,962
Mondi, Ltd. 128,994 2,467,208
Mpact, Ltd. 137,231 486,866
Murray & Roberts Holdings, Ltd. 221,422 249,984
Nedbank Group, Ltd. 173,000 3,388,293
Northam Platinum, Ltd. (I) 179,486 678,452
Nu-World Holdings, Ltd. 19,436 41,549
Omnia Holdings, Ltd. 42,258 600,837
Peregrine Holdings, Ltd. 96,580 207,496
Petmin, Ltd. 203,836 22,619
PSG Group, Ltd. 25,135 342,705
Raubex Group, Ltd. 77,675 115,980
RCL Foods, Ltd. 8,530 12,105
Reunert, Ltd. 25,410 125,556
Royal Bafokeng Platinum, Ltd. (I) 27,825 118,787
Sappi, Ltd. (I) 331,201 1,337,281
Sappi, Ltd., ADR (I) 156,861 627,444

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Emerging Markets Value Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
South Africa (continued)
Sasol, Ltd. 233,234 $ 7,874,821
Sasol, Ltd., ADR 63,922 2,175,905
Sibanye Gold, Ltd., ADR 176,508 1,505,613
Standard Bank Group, Ltd. 757,875 10,473,012
Stefanutti Stocks Holdings, Ltd. (I) 60,065 26,172
Steinhoff International Holdings, Ltd. 1,237,682 7,746,391
Super Group, Ltd. (I) 216,023 618,339
Telkom SA SOC, Ltd. (I) 257,345 1,678,540
Telkom SA SOC, Ltd., ADR (I) 3,000 78,150
Tiger Wheels, Ltd. (I) 32,678 0
Times Media Group, Ltd. 59,281 100,341
Tongaat Hulett, Ltd. 75,607   839,563
Trencor, Ltd. 100,698   511,116
Value Group, Ltd. 178,661 59,757
Wilson Bayly Holmes-Ovcon, Ltd. 6,542 60,722
Zeder Investments, Ltd. 224,532 154,352
76,226,832
South Korea - 15.0%
Asia Cement Company, Ltd. 148 16,260
ASIA Holdings Company, Ltd. 1,916 289,088
Asia Paper Manufacturing Company, Ltd. 1,600 48,006
AUK Corp. (I) 19,670 53,085
Bookook Securities Company, Ltd. 4,950 80,598
BS Financial Group, Inc. 52,142 713,056
BYC Company, Ltd. 240 65,815
CammSys Corp. (I) 15,682 28,425
Chosun Refractories Company, Ltd. 1,708 173,206
Cosmochemical Company, Ltd. (I) 3,570 16,690
Dae Dong Industrial Company, Ltd. 9,000 83,872
Dae Han Flour Mills Company, Ltd. 1,112 186,302
Daechang Company, Ltd. (L) 43,270 41,460
Daeduck Electronics Company 6,800 58,890
Daeduck GDS Company, Ltd. 12,540 153,682
Daegu Department Store (I) 8,430 130,636
Daehan Steel Company, Ltd. 9,250 52,043
Daekyo Company, Ltd. 44,550 274,697
Daelim Industrial Company, Ltd. 16,627 965,726
Daesang Holdings Company, Ltd. 321 6,972
Daesung Holdings Company, Ltd. 8,110 79,202
Daewoo Securities Company, Ltd. 62,611 727,987
Daewoo Shipbuilding & Marine
       Engineering Company, Ltd. (L) 40,069 651,502
Dahaam E-Tec Company, Ltd. (I) 2,630 42,670
Daishin Securities Company, Ltd. 40,379 432,098
Daou Technology, Inc. 26,120 406,582
Dasan Networks, Inc. (I) 7,253 46,488
DGB Financial Group, Inc. 146,896 1,600,926
Dong Ah Tire & Rubber Company, Ltd. 10,970 218,200
Dong Yang Gang Chul Company, Ltd. (I) 2,200 11,599
Dong-Il Corp. 689 55,223
Dongbang Transport Logistics Company, Ltd. 5,500 17,149
Dongbu Securities Company, Ltd. 32,430 166,836
Dongbu Steel Company, Ltd. (I)(L) 5,926 31,395
Dongil Industries Company, Ltd. 1,340 89,876
Dongkook Industrial Company, Ltd. (I) 3,600 8,730
Dongkuk Steel Mill Company, Ltd. (I) 57,069 308,170
Dongwha Pharm Company, Ltd. 16,190 109,624
Dongyang E&P, Inc. 676 8,229
Doosan Corp. 5,073 532,025
Doosan Engineering &
       Construction Company, Ltd. 3,141 32,650
Doosan Heavy Industries &
       Construction Company, Ltd. 20,139 512,556
Doosan Infracore Company, Ltd. (I) 68,568 733,927
DRB Holding Company, Ltd. 10,441 158,896
DY Corp. 2,242 16,040
DY Power Corp. (I) 1,200 13,412
E-Mart Company, Ltd. 2,807 588,384
Eugene Investment &
       Securities Company, Ltd. (I)(L) 70,280 217,236
Fursys, Inc. 792 23,483
Gaon Cable Company, Ltd. 2,934 71,928
Global & Yuasa Battery Company, Ltd. 1,523 68,675
GS Engineering & Construction Corp. (I)(L) 33,032 896,767
GS Holdings Corp. 30,293 1,170,070
Gwangju Shinsegae Company, Ltd. 1,011 280,954
Halla Corp. (I) 14,352 77,989
Han Kuk Carbon Company, Ltd. 6,020 39,997
Hana Financial Group, Inc. 150,351 3,889,207
Handok, Inc. 121 2,692
Handsome Company, Ltd. 2,848 84,216
Hanil Cement Company, Ltd. 3,120 512,709
Hanjin Heavy Industries &
       Construction Company, Ltd. (I)(L) 59,212 307,534
Hanjin Heavy Industries & Construction
       Holdings Company, Ltd. 14,860 102,910
Hanjin Kal Corp. 28,185 907,078
Hanjin Transportation Company, Ltd. 8,059 465,217
Hankuk Glass Industries, Inc. 1,970 65,453
Hankuk Paper Manufacturing Company, Ltd. 3,920 115,939
Hansol Holdings Company, Ltd. 25,129 198,083
Hansol Paper Company, Ltd. (I)(L) 15,339 307,623
Hanwha Chemical Corp. 75,170 985,918
Hanwha Corp. 38,140 1,245,966
Hanwha Investment &
       Securities Company, Ltd. 58,320 269,375
Hanwha Life Insurance Company, Ltd. 101,142 671,126
Hanyang Securities Company, Ltd. 11,820 88,299
Hitejinro Holdings Company, Ltd. 7,640 86,634
HMC Investment Securities Company, Ltd. 17,256 191,401
HS R&A Company, Ltd. 2,470 64,691
Humax Company, Ltd. 5,496 77,195
Husteel Company, Ltd. 6,110 107,038
Hwa Shin Company, Ltd. 3,135 21,112
Hwacheon Machine Tool Company, Ltd. 940 67,278
HwaSung Industrial Company, Ltd. 4,800 77,361
Hyosung Corp. 21,955 1,712,142
Hyundai BNG Steel Company, Ltd. 5,400 71,122
Hyundai Department Store Company, Ltd. 1,268 169,987
Hyundai Development Co-Engineering
       & Construction 22,675 1,162,343
Hyundai Engineering &
       Construction Company, Ltd. 5,310 240,409
Hyundai Heavy Industries Company, Ltd. (I)(L) 20,807 2,284,702
Hyundai Hy Communications &
       Networks Company, Ltd. 2,830 12,557
Hyundai Motor Company 62,808 9,511,747
Hyundai Securities Company, Ltd. 38,840 295,453
Hyundai Steel Company 44,241 2,903,928
Iljin Electric Company, Ltd. 2,300 15,225
Ilshin Spinning Company, Ltd. 867 141,066
Ilsung Pharmaceuticals Company, Ltd. 1,895 211,544
Industrial Bank of Korea 132,240 1,587,355
Interflex Company, Ltd. (I) 965 18,645
INTOPS Company, Ltd. 2,551 46,471
Inzi Controls Company, Ltd. 6,050 30,332

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Emerging Markets Value Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
South Korea (continued)
ISU Chemical Company, Ltd. 7,460 $ 67,844
Jahwa Electronics Company, Ltd. 4,238 60,777
JB Financial Group Company, Ltd. 68,876 390,634
Jeil Pharmaceutical Company 8,624 215,953
Jeil Savings Bank (I) 1,820 49
KB Capital Company, Ltd. 1,069 19,669
KB Financial Group, Inc. 3,274 115,568
KB Financial Group, Inc., ADR 287,093 10,088,448
KCC Corp. 463 235,823
Keangnam Enterprises, Ltd. (I) 8,628 32,313
Keyang Electric Machinery Company, Ltd. 13,000 47,788
KG Chemical Corp. 5,600 87,995
Kia Motors Corp. 17,652 717,341
KISCO Corp. 3,841 108,521
KISCO Holdings Company, Ltd. 778 36,664
Kishin Corp. (I) 1,549 11,394
KISWIRE, Ltd. 6,555 306,508
Kolon Corp. 1,959 56,383
Kolon Industries, Inc. 7,361 331,845
Korea Airport Service Company, Ltd. 432 14,976
Korea Cast Iron Pipe  
       Industries Company, Ltd. (I) 5,500 84,021
Korea Circuit Company, Ltd. 3,910 50,183
Korea Electric Terminal Company, Ltd. 3,658 227,702
Korea Flange Company, Ltd. 4,810 69,498
Korea Investment Holdings Company, Ltd. 21,209 1,199,661
Korea Petrochemical Ind Company, Ltd. 1,350   132,462
Korean Reinsurance Company 34,840 320,035
Kortek Corp. 4,437 53,691
KPX Chemical Company, Ltd. 933 48,752
KTB Investment & Securities Company, Ltd. (I) 43,598 128,254
Kukdo Chemical Company, Ltd. 1,414 64,506
Kumho Electric Company, Ltd. 2,785 52,780
Kunsul Chemical Industrial Company, Ltd. 1,970 105,633
Kwangju Bank (I) 18,290 135,789
Kyeryong Construction
       Industrial Company, Ltd. (I) 4,909 62,242
Kyobo Securities Company, Ltd. 12,618 141,103
Kyongnam Bank (I) 27,951 235,698
Kyung-In Synthetic Corp. 4,040 19,706
Kyungbang, Ltd. 1,320 230,809
LF Corp. 4,523 129,067
LG Corp. 43,996 2,428,240
LG Display Company, Ltd., ADR (L) 324,809 4,648,017
LG Electronics, Inc. 80,675 4,276,070
LG International Corp. 8,887 301,147
Lotte Chemical Corp. 7,229 1,320,810
Lotte Chilsung Beverage Company, Ltd. 510 792,685
Lotte Confectionery Company, Ltd. 411 661,161
Lotte Shopping Company, Ltd. 7,838 1,675,671
LS Corp. 3,534 165,287
Melfas, Inc. (I) 5,286 26,139
Meritz Securities Company, Ltd. 70,746 360,902
Mi Chang Oil Industrial Company, Ltd. 905 61,193
Mirae Asset Securities Company, Ltd. 21,045 990,500
MK Electron Company, Ltd. 3,591 23,776
MNTech Company, Ltd. 3,764 22,621
Moorim P&P Company, Ltd. 25,097 103,525
Moorim Paper Company, Ltd. 13,820 34,210
Motonic Corp. 4,725 52,599
Namyang Dairy Products Company, Ltd. 519 344,188
Nexen Corp. 1,289 103,245
NH Investment & Securities Company, Ltd. 89,006 1,150,878
Nong Shim Holdings Company, Ltd. 2,355 214,290
OCI Company, Ltd. (L) 2,347 218,123
PaperCorea, Inc. (I)(L) 70,940 47,087
Poonglim Industrial Company, Ltd. (I) 189 375
Poongsan Corp. 5,680 126,355
Poongsan Holdings Corp. 4,971 183,700
POSCO 33,218 7,260,392
POSCO Coated & Color
       Steel Company, Ltd. (I) 2,418 31,812
POSCO, ADR 58,804 3,214,227
S&T Dynamics Company, Ltd. 24,980 266,564
S&T Holdings Company, Ltd. 11,566 240,061
S&T Motiv Company, Ltd. 5,310 262,476
S-Oil Corp. 2,794 161,600
Sam Young Electronics Company, Ltd. 10,510 137,873
Samho Development Company, Ltd. 3,660 10,667
Samsung Electro-Mechanics Company, Ltd. 1,094 75,728
Samsung Heavy Industries Company, Ltd. 6,175 100,271
Samsung SDI Company, Ltd. 14,723 1,808,241
Samsung Securities Company, Ltd. 3,732 174,532
Samyang Genex Company, Ltd. 1,300 146,941
Samyang Holdings Corp. 6,789 562,957
Samyang Tongsang Company, Ltd. 1,360 145,286
Savezone I & C Corp. 16,880 98,235
SBS Media Holdings Company, Ltd. 16,606 73,083
Seah Besteel Corp. 2,011 60,384
SeAH Holdings Corp. 1,122 172,296
SeAH Steel Corp. 2,835 205,101
Sebang Company, Ltd. 10,882 213,183
Seohee Construction Company, Ltd. (I)(L) 40,163 50,852
Sewon Precision Industry Company, Ltd. 547 14,335
SG Corp. (I)(L) 84,000 61,384
Shinhan Financial Group Company, Ltd., ADR 360,808 13,458,138
Shinsegae Company, Ltd. 3,309 501,824
Shinsegae Information &
       Communication Company, Ltd. 1,038 89,009
Shinsung Solar Energy Company, Ltd. (I)(L) 30,622 37,901
Shinsung Tongsang Company, Ltd. (I) 24,560 35,879
Shinwon Corp. (I) 27,180 58,600
Shinyoung Securities Company, Ltd. (I) 5,296 300,589
Silla Company, Ltd. 5,066 106,162
Sindoh Company, Ltd. 3,959 247,336
SK Chemicals Company, Ltd. 4,747 271,638
SK Gas, Ltd. 2,926 237,015
SK Holdings Company, Ltd. 23,923 3,660,545
SK Innovation Company, Ltd. 36,518 3,132,660
SK Networks Company, Ltd. 22,807 167,387
SK Securities Company, Ltd. (I) 198,250 214,658
SKC Company, Ltd. 4,564 148,133
Songwon Industrial Company, Ltd. 6,230 56,301
Ssangyong Cement Industrial Company, Ltd. (I) 20,770 303,994
STX Engine Company, Ltd. (I) 800 2,531
Sungshin Cement Company, Ltd. (I) 15,480 209,589
Tae Kyung Industrial Company, Ltd. 10,000 56,541
Taekwang Industrial Company, Ltd. 444 481,364
Taewoong Company, Ltd. (I) 1,493 22,442
Taeyoung Engineering &
       Construction Company, Ltd. (I) 51,660 271,237
Tailim Packaging Industrial Company, Ltd. 30,000 81,555
TCC Steel 6,008 15,147
TK Chemical Corp. (I) 7,585 13,224
Tong Yang Moolsan Company, Ltd. 1,510 10,818
TS Corp. 5,680 124,744

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Emerging Markets Value Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
South Korea (continued)
Ubiquoss, Inc. 2,215 $ 21,530
Uju Electronics Company, Ltd. 1,757 25,330
Unid Company, Ltd. 1,621 93,294
Wiscom Company, Ltd. 3,760 18,933
Woojeon & Handan Company, Ltd. (I) 5,380   8,244
Woori Bank 161,005 1,358,655
Woori Bank, ADR 83 2,124
YESCO Company, Ltd. 1,950   63,274
Yoosung Enterprise Company, Ltd. 6,386 32,357
Youlchon Chemical Company, Ltd. 14,150 145,273
Young Poong Corp. 143 160,061
Yuanta Securities Korea Company, Ltd. (I)(L) 75,161 421,346
YuHwa Securities Company, Ltd. 3,410 46,565
124,246,374
Spain - 0.1%
Banco Santander SA, ADR 93,828 699,019
699,019
Taiwan - 15.9%
Ability Enterprise Company, Ltd. 175,000 98,341
Accton Technology Corp. 633,722 328,437
Acer, Inc. (I) 1,609,452 1,036,852
ACES Electronic Company, Ltd. 29,000 33,796
Achem Technology Corp. 128,173 76,318
Action Electronics Company, Ltd. (I) 190,923 40,242
Advanced Connectek, Inc. (I) 52,000 20,468
Advanced International
       Multitech Company, Ltd. 11,000 8,887
AGV Products Corp. (I) 568,100 146,859
AimCore Technology Company, Ltd. 26,990 21,775
Alpha Networks, Inc. 245,000 164,168
Altek Corp. (I) 204,104 239,069
AmTRAN Technology Company, Ltd 327,185 180,862
APCB, Inc. 92,000 69,869
Apex Science & Engineering 41,800 16,061
Ardentec Corp. 76,937 75,307
Asia Cement Corp. 1,382,805 1,737,405
Asia Optical Company, Inc. (I) 183,000 256,425
Asia Polymer Corp. 93,400 63,022
Asia Vital Components Company, Ltd. 148,328 136,656
AU Optronics Corp., ADR 861,425 4,315,739
Audix Corp. 64,960 89,628
Avermedia Technologies (I) 163,000 72,277
Avision, Inc. (I) 154,751 44,264
Bank of Kaohsiung Company, Ltd 473,249 139,235
BES Engineering Corp. 1,528,700 369,736
Biostar Microtech International Corp. 67,000 21,112
Bright Led Electronics Corp. 97,000 43,467
Cameo Communications, Inc. 164,944 34,794
Capital Securities Corp. 1,013,069 331,480
Carnival Industrial Corp. 205,000 53,499
Cathay Chemical Works 90,000 49,420
Cathay Real Estate
       Development Company, Ltd. 1,272,000 736,937
Central Reinsurance Company, Ltd. 299,290 165,014
ChainQui Construction
       Development Company, Ltd. 75,000 60,350
Champion Building Materials Company, Ltd. 120,132 35,591
Chang Hwa Commercial Bank, Ltd. 2,773,519 1,602,243
Charoen Pokphand Enterprise 154,350 142,554
Cheng Loong Corp. 1,412,320 559,269
Cheng Uei Precision Industry Company, Ltd. 303,629 562,400
Chia Chang Company, Ltd. 50,000 49,012
Chia Hsin Cement Corp. 715,773 315,568
Chien Kuo Construction Company, Ltd. 172,785 64,294
Chien Shing Stainless Steel Company, Ltd. (I) 199,000 27,216
Chin-Poon Industrial Company, Ltd. 194,571 392,402
China Airlines, Ltd. (I) 1,214,910 623,222
China Chemical &
       Pharmaceutical Company, Ltd. 196,000 127,687
China Development Financial Holding Corp. 7,210,208 2,496,178
China Electric Manufacturing Corp. 93,000 31,928
China General Plastics Corp. 545,688 222,868
China Glaze Company, Ltd. 98,000 45,859
China Life Insurance Company, Ltd. 434,500 378,533
China Man-Made Fiber Corp. (I) 921,000 317,436
China Metal Products 138,513 139,069
China Motor Corp. 414,125 358,371
China Petrochemical Development Corp. 886,550 312,561
China Steel Corp. 1,213,180 1,007,123
China Steel Structure Company, Ltd. 50,000 42,936
China Synthetic Rubber Corp. 136,965 141,880
China Wire & Cable Company, Ltd. (I) 128,000 48,827
Chinese Maritime Transport, Ltd. 29,000 29,714
Chun YU Works & Company, Ltd. 161,000 81,353
Chun Yuan Steel 672,874 246,087
Chung Hsin Electric &
       Machinery Manufacturing Corp. 255,500 172,598
Chung Hung Steel Corp. (I) 235,625 53,210
Chung Hwa Pulp Corp. (I) 501,610 149,392
Chunghwa Picture Tubes, Ltd. (I) 4,649,429 218,228
CMC Magnetics Corp. (I) 4,195,000 561,209
CoAsia Microelectronics Corp. 40,950 26,269
Collins Company, Ltd. 134,626 64,682
Compal Electronics, Inc. 3,598,000 2,989,046
Compeq Manufacturing Company, Ltd. 844,000 543,889
Concord Securities Corp. (I) 135,000 34,022
Continental Holdings Corp. 862,050 308,492
Coretronic Corp. 421,500 646,398
Coxon Precise Industrial Company, Ltd. 59,000 139,883
CSBC Corp. Taiwan 147,100 77,748
D-Link Corp. 397,630 214,349
DA CIN Construction Company, Ltd. 62,000 40,400
Darfon Electronics Corp. 220,850 132,268
Darwin Precisions Corp. 323,099 191,847
Delpha Construction Company, Ltd. 104,261 61,423
Dynamic Electronics Company, Ltd. (I) 159,762 68,831
E Ink Holdings, Inc. (I) 150,000 69,042
E.Sun Financial Holding Company, Ltd. 4,959,594 3,032,467
Eastern Media International Corp. 587,608 186,051
Edimax Technology Company, Ltd. 53,404 20,613
Edison Opto Corp. (I) 62,000 54,889
Elite Material Company, Ltd. 113,000 193,476
Elitegroup Computer Systems Company, Ltd. 454,104 473,923
ENG Electric Company, Ltd. 46,000 33,854
EnTie Commercial Bank Company, Ltd. 53,000 25,155
Episil Holdings, Inc. (I) 70,000 30,604
Epistar Corp. 647,312 1,040,669
Etron Technology, Inc. (I) 26,000 16,776
Eva Airways Corp. (I) 650,511 477,037
Everest Textile Company, Ltd. 230,000 124,333
Evergreen International Storage
       & Transport Corp. 353,600 201,636
Evergreen Marine Corp. Taiwan, Ltd. (I) 1,543,291 1,146,151
Excelsior Medical Company, Ltd. 70,200 115,784
Far Eastern Department Stores, Ltd. 342,720 289,333

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Emerging Markets Value Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Taiwan (continued)
Far Eastern International Bank 2,051,220 $ 714,832
Far Eastern New Century Corp. 688,480 709,677
Farglory F T Z Investment
       Holding Company, Ltd. (I) 45,000 27,109
Farglory Land Development Company, Ltd. 110,530 127,308
Federal Corp. 630,528 347,241
First Copper Technology Company, Ltd. 336,000 105,445
First Financial Holding Copany, Ltd. 5,041,619 2,993,923
First Steamship Company, Ltd. 249,104 131,524
Formosa Advanced
       Technologies Company, Ltd. 24,000 17,711
Formosa Chemicals & Fibre Corp. 109,000 249,578
Formosa Oilseed Processing Company, Ltd. 75,578 51,800
Formosa Taffeta Company, Ltd. 654,000 687,907
Formosan Rubber Group, Inc. 272,000 275,779
Formosan Union Chemical 280,940 113,013
Fortune Electric Company, Ltd. 35,000 18,755
Founding Construction &
       Development Company, Ltd. 98,443 64,309
Foxconn Technology Company, Ltd. 129,200 346,415
Foxlink Image Technology Company, Ltd. 67,000 45,230
Froch Enterprise Company, Ltd. (I) 41,000 17,277
FSP Technology, Inc. 72,229 57,790
Fubon Financial Holding Company, Ltd. 3,952,649 7,085,290
Fullerton Technology Company, Ltd. 86,460   75,129
Fulltech Fiber Glass Corp. 149,616 72,860
Fwusow Industry Company, Ltd. 179,216 89,158
G Shank Enterprise Company, Ltd. 40,535   35,491
G Tech Optoelectronics Corp. 60,000 53,742
Gallant Precision Machining Company, Ltd. 66,000 28,389
Gemtek Technology Corp. 199,697 147,033
Genesis Photonics, Inc. (I) 160,240 76,559
Getac Technology Corp. 392,000 240,141
Giantplus Technology Company, Ltd. (I) 30,000 10,595
Giga Solution Tech Company, Ltd. 19,000 14,667
Gigabyte Technology Company, Ltd. 250,000 309,256
Gintech Energy Corp. (I) 258,349 178,076
Global Brands Manufacture, Ltd. (I) 171,806 55,296
Global Lighting Technologies, Inc. 23,000 33,097
Globalwafers Company, Ltd. (I) 14,029 40,954
Globe Union Industrial Corp. 96,750 48,146
Gloria Material Technology Corp. 283,350 185,943
Gold Circuit Electronics, Ltd. (I) 442,204 255,471
Goldsun Development &
       Construction Company, Ltd. 1,644,714 554,731
Grand Pacific Petrochemical 783,000 442,028
Great Wall Enterprise Company, Ltd. 88,400 74,109
Green Energy Technology, Inc. (I) 221,194 133,970
GTM Holdings Corp. (I) 159,000 84,752
Hannstar Board Corp. 128,759 60,287
Hannstar Display Corp. 2,630,842 574,967
Harvatek Corp. 131,521 84,217
Hey Song Corp. 177,000 214,322
Ho Tung Chemical Corp. (I) 814,229 237,547
Hocheng Corp. 424,500 141,051
Holystone Enterprise Company, Ltd. 118,300 168,553
Hong TAI Electric Industrial 351,000 119,324
Horizon Securities Company, Ltd. 223,000 62,644
Hsin Kuang Steel Company, Ltd. 312,085 175,315
Hsing TA Cement Company 415,000 184,367
HTC Corp. (I) 52,000 231,443
HUA ENG Wire & Cable 923,000 292,683
Hua Nan Financial Holdings Company, Ltd. 2,797,498 1,598,244
Huang Hsiang Construction Corp. 35,000 49,479
Hung Ching Development &
       Construction Company, Ltd. 173,000 126,100
Hung Poo Real Estate Development Corp. 123,000 104,209
Hung Sheng Construction, Ltd. (I) 615,200 370,164
I-Chiun Precision Industry Company, Ltd. 98,000 56,708
Ichia Technologies, Inc. 248,180 244,253
Infortrend Technology, Inc. 118,000 64,963
InnoLux Display Corp. 6,278,561 3,128,126
Inventec Corp. 284,000 205,100
ITE Technology, Inc. 7,913 9,939
J Touch Corp. (I) 37,000 20,266
Janfusun Fancyworld Corp. (I) 15,071 2,196
Jess-Link Products Company, Ltd. 57,000 73,253
Jih Sun Financial Holdings Company, Ltd. 92,333 24,577
K Laser Technology, Inc. 82,214 40,998
Kang Na Hsiung Enterprise Company, Ltd. 105,000 45,167
Kaulin Manufacturing Company, Ltd. 202,710 141,726
Kenmec Mechanical
       Engineering Company, Ltd. 44,000 20,773
King Yuan Electronics Company, Ltd. 1,141,796 1,035,693
King’s Town Bank Company, Ltd. 421,000 402,631
King’s Town Construction Company, Ltd. (I) 15,000 12,608
Kinko Optical Company, Ltd. 36,000 25,360
Kinpo Electronics 1,362,269 620,920
KS Terminals, Inc. 37,000 45,833
Kuoyang Construction Company, Ltd. 52,335 23,164
Kwong Fong Industries Corp. 500,040 314,540
KYE Systems Corp. 222,382 80,511
L&K Engineering Company, Ltd. 74,000 55,058
LAN FA Textile 188,863 72,313
LCY Chemical Corp. 19,000 10,111
Leader Electronics, Inc. 51,000 19,747
Lealea Enterprise Company, Ltd. (I) 1,043,124 306,574
LEE CHI Enterprises Company, Ltd. 118,000 54,422
Leofoo Development Company (I) 125,969 46,043
LES Enphants Company, Ltd. 64,000 34,027
Li Peng Enterprise Company, Ltd. (I) 681,600 232,789
Lien Hwa Industrial Corp. 638,414 437,415
Lingsen Precision Industries, Ltd. 372,481 171,683
Lite-On Semiconductor Corp. 171,693 139,648
Lite-On Technology Corp. 1,783,344 2,306,955
Long Chen Paper Company, Ltd. 854,307 358,783
Lotes Company, Ltd. 32,000 141,757
Lucky Cement Corp. 348,000 122,241
Macronix International (I) 3,485,001 847,435
Marketech International Corp. 82,000 76,566
Masterlink Securities Corp. 716,496 240,073
Mayer Steel Pipe Corp. 321,379 153,582
Mega Financial Holding Company, Ltd. 5,806,098 4,809,490
Meiloon Industrial Company 107,684 46,673
Mercuries & Associates, Ltd. 56,000 41,516
Mercuries Life Insurance Company, Ltd. (I) 41,164 23,271
Micro-Star International Company, Ltd. 747,264 884,778
Mitac Holdings Corp. 446,978 346,560
Mosel Vitelic, Inc. (I) 286,758 51,239
Nan Ya Printed Circuit Board Corp. (I) 87,000 142,451
Nantex Industry Company, Ltd. 33,852 18,491
Nien Hsing Textile Company, Ltd. 428,000 374,511
Nishoku Technology, Inc. 6,000 8,973
Optimax Technology Corp. (I) 103,000 42,693
OptoTech Corp. 305,000 132,387
P-Two Industries, Inc. 14,000 5,791

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Emerging Markets Value Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Taiwan (continued)
Pacific Construction Company 89,289 $ 40,564
Pan Jit International, Inc. (I) 249,000 114,058
Pan-International Industrial Corp. 32,481 19,059
Paragon Technologies Company, Ltd. 28,904 49,797
Pegatron Corp. 1,024,660 2,764,579
Phihong Technology Company, Ltd. 152,000 80,529
Plotech Company, Ltd. 30,000 11,586
Pou Chen Corp. 341,348 476,964
Powercom Company, Ltd. (I) 85,600 11,902
Powertech Technology, Inc. 519,000 891,918
President Securities Corp. 564,285 293,661
Prime Electronics Satellitics, Inc. 50,000 19,725
Prince Housing & Development Corp. 275,555 113,895
Prodisc Technology, Inc. (I) 762,000 0
Qisda Corp. (I) 1,550,280 703,307
Qualipoly Chemical Corp. 21,000 18,788
Quanta Storage, Inc. 131,000 143,139
Quintain Steel Company, Ltd. (I) 361,602 64,926
Radium Life Tech Company, Ltd. (I) 406,211 209,839
Ralec Electronic Corp. 41,335 85,801
Rexon Industrial Corp., Ltd. 63,456   22,281
Rich Development Company, Ltd. 131,000 56,073
Ritek Corp. (I) 3,252,029 341,559
Ruentex Development Company, Ltd. 104,000 159,412
Ruentex Industries, Ltd. 203,000 444,199
Sampo Corp. 902,338 396,327
Sheng Yu Steel Company, Ltd. 169,000 115,275
ShenMao Technology, Inc. 13,000 13,775
Shih Wei Navigation Company, Ltd. 54,039 31,658
Shihlin Electric & Engineering Corp. 41,000   52,246
Shin Kong Financial Holding Company, Ltd. 5,375,680 1,526,938
Shin Zu Shing Company, Ltd. 51,000 134,302
Shinkong Insurance Company, Ltd. 142,000 111,157
Shinkong Synthetic Fibers Corp. 1,992,239 683,414
Shuttle, Inc. 112,000 28,221
Sigurd Microelectronics Corp. 341,293 328,040
Silicon Integrated Systems Corp. (I) 440,000 119,123
Singatron Enterprise Company, Ltd. 17,000 6,626
Sino-American Silicon Products, Inc. (I) 300,000 452,892
Sinon Corp. 368,650 199,567
SinoPac Financial Holdings Company, Ltd. 6,270,016 2,613,571
Siward Crystal Technology Company, Ltd. 64,213 50,029
Solar Applied Materials Technology Company 38,000 32,051
Solartech Energy Corp. (I) 149,624 93,952
Solomon Technology Corp. (I) 82,421 54,962
Solytech Enterprise Corp. (I) 72,000 19,668
Southeast Cement Company, Ltd. 272,000 144,996
Spirox Corp. (I) 101,068 66,382
Sunplus Technology Company, Ltd. (I) 409,000 176,658
Sunrex Technology Corp. 71,000 47,782
Supreme Electronics Company, Ltd. 217,292 116,970
Sweeten Construction Company, Ltd. 38,586 23,043
TA Chen Stainless Pipe (I) 565,788 382,640
Ta Chong Bank, Ltd. (I) 2,385,611 811,143
Ta Chong Securities Company, Ltd. 51,000 17,566
Ta Ya Electric Wire & Cable 928,436 192,366
TA-I Technology Company, Ltd. 75,823 42,186
Tah Hsin Industrial Corp. 172,300 153,873
Taichung Commercial Bank Company, Ltd. 2,215,591 753,868
Tainan Enterprises Company, Ltd. 194,250 186,252
Tainan Spinning Company, Ltd. 1,227,197 636,700
Taishin Financial Holding Company, Ltd. 8,275,400 3,511,979
Taisun Enterprise Company, Ltd. (I) 73,032 29,149
Taita Chemical Company, Ltd. (I) 140,028 40,390
Taiwan Business Bank (I) 3,047,081 924,199
Taiwan Cement Corp. 2,096,983 2,951,320
Taiwan Cogeneration Corp. 335,434 290,362
Taiwan Cooperative Financial
       Holding Company, Ltd. 5,446,741 2,756,312
Taiwan Fertilizer Company, Ltd. 352,000 609,926
Taiwan Fire & Marine Insurance Company, Ltd. 6,000 4,314
Taiwan FU Hsing Industrial Company, Ltd. 45,000 55,082
Taiwan Glass Industry Corp. 142,000 102,234
Taiwan Hopax Chemicals
       Manufacturing Company, Ltd. 10,200 6,580
Taiwan Kolin Company, Ltd. (I) 327,000 0
Taiwan Land Development Corp. 559,511 280,276
Taiwan Mask Corp. 407,150 129,592
Taiwan Navigation Company, Ltd. 49,000 31,526
Taiwan PCB Techvest Company, Ltd. 78,000 135,859
Taiwan Pulp & Paper Corp. (I) 417,640 150,153
Taiwan Semiconductor Company, Ltd. 11,000 11,813
Taiwan Surface Mounting
       Technology Company, Ltd. 24,024 30,151
Taiwan TEA Corp. 546,000 298,038
Taiwan Union Technology Corp. 65,000 65,206
Taiyen Biotech Company, Ltd. 230,137 194,031
Tatung Company, Ltd. (I) 2,316,200 623,061
Teco Electric and Machinery Company, Ltd. 1,593,000 1,513,970
Tex-Ray Industrial Company, Ltd. (I) 91,800 36,716
The Ambassador Hotel 54,000 47,575
The First Insurance Company, Ltd. 193,475 89,048
Tong Yang Industry Company, Ltd. 192,627 224,981
Tong-Tai Machine & Tool Company, Ltd. 120,185 128,680
Topoint Technology Company, Ltd. 70,212 71,677
TPK Holding Company, Ltd. 29,000 202,230
Transasia Airways Corp. 48,000 17,725
Tripod Technology Corp. 15,000 30,169
Tung Ho Steel Enterprise Corp. 266,000 201,135
TYC Brother Industrial Company, Ltd. (I) 131,511 87,543
Tycoons Group Enterprise (I) 367,768 67,861
Tyntek Corp. (I) 157,361 72,682
Unimicron Technology Corp. 1,112,000 719,080
Union Bank of Taiwan (I) 895,127 304,488
Unitech Computer Company, Ltd. 120,039 77,720
Unitech Printed Circuit Board Corp. 641,975 295,735
United Integrated Services Company, Ltd. 64,000 67,831
United Microelectronics Corp. 9,846,794 4,878,828
Universal Cement Corp. 733,090 690,363
Unizyx Holding Corp. 377,000 200,059
UPC Technology Corp. 893,156 328,151
USI Corp. 154,000 79,600
Ve Wong Corp. 93,993 71,408
Wafer Works Corp. (I) 296,887 130,736
Wah Hong Industrial Corp. 7,988 7,833
Wah Lee Industrial Corp. 76,000 133,112
Walsin Lihwa Corp. (I) 2,105,000 647,469
Walsin Technology Corp. (I) 838,044 380,872
Walton Advanced Engineering, Inc. 229,584 99,540
Wan Hai Lines, Ltd. 149,050 183,744
Waterland Financial Holdings Company, Ltd. 2,260,399 624,693
Ways Technical Corp., Ltd. (I) 17,000 13,899
WEI Chih Steel Industrial Company, Ltd. (I) 100,000 11,140
Wei Mon Industry Company, Ltd. (I) 211,815 65,999
Well Shin Technology Company, Ltd. 30,000 47,003
Winbond Electronics Corp. (I) 2,316,000 759,894

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Emerging Markets Value Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Taiwan (continued)
Wintek Corp. (I) 543,000 $ 31,757
Wistron Corp. 1,965,052 1,667,362
WT Microelectronics Company, Ltd. 92,202 142,239
WUS Printed Circuit Company, Ltd. 419,000 236,802
Yageo Corp. 582,022 1,199,267
Yang Ming Marine Transport Corp. (I) 786,500 452,036
YC Company, Ltd. 188,587 92,250
YC INOX Company, Ltd. 58,000 44,729
YFY, Inc. 1,678,202 674,621
Yi Jinn Industrial Company, Ltd. 313,904 89,154
Yieh Phui Enterprise Company, Ltd. 1,810,870 547,129
Young Fast Optoelectronics Company, Ltd. 103,000 63,204
Yuanta Financial Holding Company, Ltd. 4,944,297 2,485,601
Yufo Electronics Company, Ltd. 12,000 7,389
Yulon Motor Company, Ltd. 653,000 891,009
Zenitron Corp. 150,000 91,278
Zig Sheng Industrial Company, Ltd. 352,908   103,234
Zinwell Corp. 112,000 115,028
ZongTai Real Estate
       Development Company, Ltd. 51,000 34,939
131,289,252
Thailand - 3.2%
AAPICO Hitech PCL 144,720 63,599
AJ Plast PCL 117,500   28,526
AP Thailand PCL 1,184,370 262,061
Asia Plus Group Holdings Securities 74,100 8,790
Bangkok Bank PCL 188,000 1,065,180
Bangkok Bank PCL 30,100 170,665
Bangkok Expressway PCL 492,400 590,154
Bangkok Insurance PCL 4,550 51,177
Bangkok Land PCL 1,024,100 47,208
Banpu PCL 1,053,600 955,169
Cal-Comp Electronics Thailand PCL 1,955,512 245,190
Charoen Pokphand Foods PCL 522,100 361,010
Eastern Water Resources Development and
       Management PCL 143,600 48,102
Esso Thailand PCL (L) 1,389,900 252,010
G J Steel PCL (I) 58,717,750 90,224
G Steel PCL (I) 3,947,700 13,345
Hana Microelectronics PCL 328,800 444,597
Indorama Ventures PCL 129,300 103,313
IRPC PCL 5,208,900 688,330
KGI Securities Thailand PCL 566,200 68,208
Kiatnakin Bank PCL 416,000 498,586
Krung Thai Bank PCL (L) 2,764,100 1,936,739
Krungthai Card PCL 11,700 34,787
MBK PCL 418,000 179,840
Padaeng Industry PCL 46,900 25,799
Polyplex Thailand PCL 266,900 79,561
Pranda Jewelry PCL 214,300 37,539
Precious Shipping PCL 322,600 141,770
Property Perfect PCL 1,534,900 49,528
PTT Exploration & Production PCL 439,000 1,470,529
PTT Global Chemical PCL 1,078,300 1,731,444
PTT PCL 868,700 8,622,929
Regional Container Lines PCL (I) 517,200 144,638
Saha-Union PCL 204,000 241,364
Sahaviriya Steel Industries PCL (I) 9,648,400 62,267
Sansiri PCL 3,683,466 209,416
SC Asset Corp. PCL 1,517,063 169,702
Siam Future Development PCL 159,076 33,976
Siamgas & Petrochemicals PCL 121,600 43,348
Somboon Advance Technology PCL 68,200 40,660
Sri Trang Agro-Industry PCL 518,700 191,285
Srithai Superware PCL 283,000 22,090
Tata Steel Thailand PCL (I) 5,227,800 117,280
Thai Airways International PCL (L) 952,800 316,234
Thai Carbon Black PCL 44,000 33,669
Thai Oil PCL 546,500 873,325
Thai Stanley Electric PCL 700 4,292
Thanachart Capital PCL 762,600 814,393
The Bangchak Petroleum PCL 724,600 718,142
Thitikorn PCL 59,000 17,860
Thoresen Thai Agencies PCL 1,033,257 422,321
TMB Bank PCL 9,443,800 864,859
TPI Polene PCL 9,280,400 815,671
Vanachai Group PCL 989,120 226,458
Vinythai PCL 276,900 85,095
26,834,254
Turkey - 1.7%
Adana Cimento Sanayii TAS 60,198 154,621
Akbank TAS 569,283 1,670,007
Akenerji Elektrik Uretim AS (I) 150,806 57,883
Akfen Holding AS 42,353 98,326
Aksa Akrilik Kimya Sanayii AS 94,493 351,887
Alarko Holding AS 68,458 97,844
Albaraka Turk Katilim Bankasi AS 47,374 31,287
Anadolu Anonim Turk Sigorta Sirketi 360,610 181,630
Anadolu Cam Sanayii AS 133,951 91,530
Anadolu Efes Biracilik Ve Malt Sanayii AS 10,445 87,120
Asya Katilim Bankasi AS (I) 304,999 73,177
Aygaz AS 78,512 286,327
Baticim Bati Anadolu Cimento Sanayii AS 16,440 43,340
Borusan Mannesmann Boru Sanayi ve
       Ticaret AS 37,494 101,249
Deva Holding AS (I) 47,695 44,898
Dogan Sirketler Grubu Holding AS (I) 1,213,497 284,016
Eczacibasi Yatirim Holding Ortakligi AS 27,948 89,106
EGE Seramik Sanayi ve Ticaret AS 19,278 31,050
EIS Eczacibasi Ilac ve Sinai ve Finansal
       Yatirimlar Sanayi ve Ticaret AS 218,212 207,032
Gentas Genel Metal Sanayi ve Ticaret AS 70,980 35,690
Global Yatirim Holding AS (I) 250,299 182,620
Goldas Kuyumculuk Sanayi Ithalat Ve
       Ihracat AS (I) 54,846 4,432
GSD Holding AS (I)(L) 418,949 270,503
Hurriyet Gazetecilik ve Matbaacilik AS (I) 163,848 40,213
Ihlas Holding AS (I)(L) 481,506 50,062
Ipek Dogal Enerji Kaynaklari Arastirma Ve
       Uretim AS (I) 52,948 47,549
Is Finansal Kiralama AS (L) 99,843 36,392
Kardemir Karabuk Demir Celik Sanayi ve
       Ticaret AS (I) 6,361 5,892
KOC Holding AS 175,409 797,872
Menderes Tekstil Sanayi ve Ticaret AS (I) 171,704 40,892
Metro Ticari ve Mali Yatirimlar Holding AS (I) 200,802 86,474
Parsan Makina Parcalari Sanayi AS (I) 48,236 90,149
Pinar Entegre Et ve Un Sanayi AS 27,204 98,329
Sarkuysan Elektrolitik Bakir Sanayi ve
       Ticaret AS 168,256 192,191
Sasa Polyester Sanayi AS (I) 105,156 90,932
Sekerbank TAS (I) 570,501 366,462
Selcuk Ecza Deposu Ticaret ve Sanayi AS 50,128 50,303
Soda Sanayii AS (L) 102,067 225,943
Tekfen Holding AS 49,092 88,553
Tekstil Bankasi AS (I)(L) 84,007 65,653

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Emerging Markets Value Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Turkey (continued)
Trakya Cam Sanayii AS 316,628 $ 358,890
Turcas Petrol AS 47,466 37,898
Turk Hava Yollari AO (I) 150,697 497,125
Turkiye Garanti Bankasi AS 166,298 542,312
Turkiye Halk Bankasi AS 166,967 822,219
Turkiye Is Bankasi 1,028,262 2,314,167
Turkiye Sinai Kalkinma Bankasi AS 761,271 581,494
Turkiye Sise ve Cam Fabrikalari AS 472,071 582,218
Turkiye Vakiflar Bankasi TAO 579,514 945,807
Uzel Makina Sanayii AS (I) 22,930 0
Yapi ve Kredi Bankasi AS 397,319 609,004
14,140,570
Ukraine - 0.0%
Kernel Holding SA (I) 25,996 252,292
252,292
TOTAL COMMON STOCKS (Cost $843,278,151) $ 806,654,058
 
PREFERRED SECURITIES - 1.8%
Brazil - 1.7%
Banco ABC Brasil SA 74,156 267,204
Banco Daycoval SA 88,000 231,060
Banco do Estado do Rio Grande do Sul SA 32,800 113,049
Banco Industrial e Comercial SA (I) 155,800 358,801
Banco Pan SA 21,392 10,054
Banco Pine SA 38,200   66,788
Banco Sofisa SA 40,100 28,270
Braskem SA 135,522 467,090
Cia Ferro Ligas da Bahia - Ferbasa 98,024 212,538
Eucatex SA Industria e Comercio 45,078 50,565  
Gerdau SA 201,057 640,046
Itau Unibanco Holding SA 24,500 271,058
Marcopolo SA 213,600 154,601
Parana Banco SA 21,400 63,632
Petroleo Brasileiro SA 658,968 2,008,980
Randon Participacoes SA 16,300 16,752
Suzano Papel e Celulose SA 229,200 1,062,138
Unipar Carbocloro SA 76,710 100,227
Usinas Siderurgicas de Minas Gerais SA (I) 283,685 441,765
Vale SA 1,571,977 7,609,796
14,174,414
Colombia - 0.1%
Grupo de Inversiones Suramericana SA 48,323 622,623
622,623
TOTAL PREFERRED SECURITIES (Cost $33,855,106) $ 14,797,037
 
RIGHTS - 0.0%
JHSF Participacoes SA (I)(N) 4,527 28
KNM Group Bhd (I)(N) 230,400 9,332
TOTAL RIGHTS (Cost $0) $ 9,360
 
WARRANTS - 0.0%
Golden Meditech Holdings, Ltd. (I)(N) 116,034 1,018
Mah Sing Group Bhd (I)(N) 16,704 902
TOTAL WARRANTS (Cost $0) $ 1,920
           
SECURITIES LENDING COLLATERAL - 2.9%
John Hancock
       Collateral Trust, 0.1102% (W)(Y) 2,406,761 24,079,640
TOTAL SECURITIES LENDING
COLLATERAL (Cost $24,080,158) $ 24,079,640
 
SHORT-TERM INVESTMENTS - 0.4%
Money market funds - 0.4%
BlackRock Cash Funds - Prime, 0.1200% (Y) 2,876,391 2,876,391
2,876,391
TOTAL SHORT-TERM INVESTMENTS (Cost $2,876,391) $ 2,876,391
Total Investments (Emerging Markets Value Trust)
       (Cost $904,089,806) - 102.5% $ 848,418,406
Other assets and liabilities, net - (2.5%) (20,424,206 )
TOTAL NET ASSETS - 100.0% $ 827,994,200
 
Equity-Income Trust
 
Shares or
Principal
Amount Value
COMMON STOCKS - 95.4%  
Consumer discretionary - 12.8%
Auto components - 0.7%
Johnson Controls, Inc. 267,700 $ 13,502,785
Automobiles - 1.2%
Ford Motor Company 662,300 10,689,522
General Motors Company 323,198 12,119,925
22,809,447
Distributors - 0.6%
Genuine Parts Company 131,000 12,207,890
Hotels, restaurants and leisure - 2.1%
Carnival Corp. 418,500 20,021,040
Las Vegas Sands Corp. 152,200 8,377,088
McDonald’s Corp. 117,200 11,419,968
39,818,096
Leisure products - 0.9%
Mattel, Inc. 738,475 16,874,154
Media - 4.1%
Cablevision Systems Corp., Class A (L) 492,400 9,010,920
Comcast Corp., Class A 171,000 9,656,370
News Corp., Class A (I) 419,300 6,712,993
Pearson PLC 234,996 5,057,974
The New York Times Company, Class A 454,000 6,247,040
The Walt Disney Company 115,400 12,104,306
Time Warner, Inc. 302,300 25,526,212
Viacom, Inc., Class B 67,700 4,623,910
78,939,725
Multiline retail - 2.0%
Kohl’s Corp. 291,700 22,825,525
Macy’s, Inc. 252,700 16,402,757
39,228,282
Specialty retail - 0.9%
Staples, Inc. 967,200 15,750,852
Tiffany & Company 14,900 1,311,349
17,062,201

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Equity-Income Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Textiles, apparel and luxury goods - 0.3%
Coach, Inc. 137,700 $ 5,704,911
246,147,491
Consumer staples - 4.4%
Beverages - 0.8%
PepsiCo, Inc. 167,000 15,968,540
Food products - 2.5%
Archer-Daniels-Midland Company 434,300 20,585,820
Campbell Soup Company 216,500 10,078,075
ConAgra Foods, Inc. 64,600 2,359,838
Kellogg Company 91,300 6,021,235
McCormick & Company, Inc. 110,200 8,497,522
47,542,490
Household products - 0.8%
The Clorox Company 144,700 15,973,433
Personal products - 0.3%
Avon Products, Inc. 700,900   5,600,191
85,084,654
Energy - 11.9%
Energy equipment and services - 1.0%
Diamond Offshore Drilling, Inc. (L) 254,500 6,818,055
Schlumberger, Ltd. 160,400 13,383,776
  20,201,831
Oil, gas and consumable fuels - 10.9%
Anadarko Petroleum Corp. 146,000 12,090,260
Apache Corp. 475,100 28,662,783
BP PLC, ADR 237,875 9,303,291
Canadian Natural Resources, Ltd. 101,500 3,117,065
Chevron Corp. 339,400 35,630,212
ConocoPhillips 110,000 6,848,600
CONSOL Energy, Inc. 415,900 11,599,451
Exxon Mobil Corp. 366,400 31,144,000
Hess Corp. 356,300 24,182,081
Murphy Oil Corp. 333,400 15,536,440
Royal Dutch Shell PLC, ADR, Class A 395,000 23,561,750
Talisman Energy, Inc. 970,900 7,456,512
209,132,445
229,334,276
Financials - 19.5%
Banks - 11.5%
Bank of America Corp. 1,992,493 30,664,467
JPMorgan Chase & Co. 867,475 52,551,636
Regions Financial Corp. 686,800 6,490,260
SunTrust Banks, Inc. 511,200 21,005,208
The PNC Financial Services Group, Inc. 334,600 31,198,104
U.S. Bancorp 814,000 35,547,380
Wells Fargo & Company 796,000 43,302,400
220,759,455
Capital markets - 1.1%
Northern Trust Corp. 302,100 21,041,265
The Bank of New York Mellon Corp. 13,524 544,206
21,585,471
Consumer finance - 0.9%
American Express Company 227,500 17,772,300
Insurance - 4.3%
Loews Corp. 352,200 14,380,326
Marsh & McLennan Companies, Inc. 517,400 29,020,966
MetLife, Inc. 304,500 15,392,475
Sun Life Financial, Inc. (L) 225,000 6,934,500
The Chubb Corp. 97,300 9,837,030
Willis Group Holdings PLC 133,900 6,451,302
82,016,599
Real estate investment trusts - 1.7%
Digital Realty Trust, Inc. 152,200 10,039,112
Rayonier, Inc. 267,900 7,222,584
Weyerhaeuser Company 475,500 15,762,825
33,024,521
375,158,346
Health care - 6.9%
Health care providers and services - 0.5%
Quest Diagnostics, Inc. 123,700 9,506,345
Pharmaceuticals - 6.4%
Bristol-Myers Squibb Company 394,625 25,453,313
GlaxoSmithKline PLC 425,125 9,786,351
Johnson & Johnson 314,500 31,638,700
Merck & Company, Inc. 449,750 25,851,630
Pfizer, Inc. 864,535 30,077,173
122,807,167
132,313,512
Industrials - 13.6%
Aerospace and defense - 2.5%
Honeywell International, Inc. 214,400 22,364,064
The Boeing Company 171,500 25,738,720
48,102,784
Air freight and logistics - 1.1%
United Parcel Service, Inc., Class B 210,300 20,386,482
Building products - 1.0%
Masco Corp. 483,500 12,909,450
USG Corp. (I)(L) 267,000 7,128,900
20,038,350
Electrical equipment - 1.5%
Eaton Corp. PLC 149,504 10,157,302
Emerson Electric Company 349,000 19,760,380
29,917,682
Industrial conglomerates - 2.8%
General Electric Company 2,140,500 53,105,805
Machinery - 4.7%
Deere & Company 172,300 15,108,987
Flowserve Corp. 134,100 7,575,309
Illinois Tool Works, Inc. 312,000 30,307,680
Joy Global, Inc. 215,900 8,458,962
Stanley Black & Decker, Inc. 181,300 17,288,768
Xylem, Inc. 347,248 12,160,625
90,900,331
262,451,434
Information technology - 11.0%
Communications equipment - 3.5%
Cisco Systems, Inc. 725,900 19,980,398
Harris Corp. 280,700 22,107,932
Motorola Solutions, Inc. 50,200 3,346,834
QUALCOMM, Inc. 308,900 21,419,126
66,854,290

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Equity-Income Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Electronic equipment, instruments and components - 0.9%
Corning, Inc. 815,500 $ 18,495,540
IT services - 1.7%
Computer Sciences Corp. 106,824 6,973,471
IBM Corp. 102,300 16,419,150
The Western Union Company 451,400 9,393,634
32,786,255
Semiconductors and semiconductor equipment - 2.7%
Analog Devices, Inc. 243,300 15,327,900
Applied Materials, Inc. 845,500 19,074,480
Texas Instruments, Inc. 307,500 17,584,388
51,986,768
Software - 1.2%
CA, Inc. 201,300 6,564,393
Microsoft Corp. 414,925 16,868,776
23,433,169
Technology hardware, storage and peripherals - 1.0%
Dell, Inc. (I) 1,271,400 18,975,448
212,531,470
Materials - 5.4%
Chemicals - 1.1%
E.I. du Pont de Nemours & Company 176,100 12,585,867
Potash Corp. of Saskatchewan, Inc. 249,800 8,056,050
20,641,917
Construction materials - 1.0%  
Vulcan Materials Company 230,500 19,431,150
Containers and packaging - 0.6%
MeadWestvaco Corp. 233,000   11,619,710
Metals and mining - 1.3%
Newmont Mining Corp. 409,200   8,883,732
Nucor Corp. 336,100 15,974,833
24,858,565
Paper and forest products - 1.4%
International Paper Company 502,500 27,883,725
104,435,067
Telecommunication services - 3.5%
Diversified telecommunication services - 3.3%
AT&T, Inc. 813,349 26,555,845
CenturyLink, Inc. 295,017 10,192,837
Telefonica SA 584,963 8,323,732
Verizon Communications, Inc. 64,085 3,122,445
Verizon Communications, Inc. 344,200 16,738,446
64,933,305
Wireless telecommunication services - 0.2%
Vodafone Group PLC 1,120,204 3,665,669
68,598,974
Utilities - 6.4%
Electric utilities - 4.6%
Duke Energy Corp. 317,719 24,394,465
Entergy Corp. 268,400 20,798,316
Exelon Corp. 469,800 15,789,978
FirstEnergy Corp. 393,700 13,803,122
Xcel Energy, Inc. 392,600 13,666,406
88,452,287
Independent power and renewable electricity producers - 0.4%
AES Corp. 514,700 6,613,895
Multi-utilities - 1.4%
NiSource, Inc. 628,600 27,758,976
122,825,158
TOTAL COMMON STOCKS (Cost $1,266,830,253) $ 1,838,880,382
 
RIGHTS - 0.0%
Telecommunication services - 0.0%
Telefonica SA (Expiration
       Date: 04/16/2015) (I)(N) 584,963 94,347
TOTAL RIGHTS (Cost $0) $ 94,347
 
SECURITIES LENDING COLLATERAL - 1.2%
John Hancock
       Collateral Trust, 0.1102% (W)(Y) 2,319,733 23,208,925
TOTAL SECURITIES LENDING
COLLATERAL (Cost $23,209,184) $ 23,208,925
 
SHORT-TERM INVESTMENTS - 4.5%
Money market funds - 4.5%
State Street Institutional U.S. Government
       Money Market Fund, 0.0000% (Y) 3,000,000 3,000,000
T. Rowe Price Reserve Investment
       Fund, 0.0384% (Y) 82,608,910 82,608,910
TOTAL SHORT-TERM INVESTMENTS (Cost $85,608,910) $ 85,608,910
Total Investments (Equity-Income Trust)
       (Cost $1,375,648,347) - 101.1% $ 1,947,792,564
Other assets and liabilities, net - (1.1%) (20,930,874 )
TOTAL NET ASSETS - 100.0% $ 1,926,861,690
 
Financial Industries Trust
 
Shares or
Principal
Amount Value
COMMON STOCKS - 98.0%
Financials - 96.8%
Banks - 55.7%
Ameris Bancorp (I) 35,353 $ 896,582
Bank of America Corp. 353,990 5,447,906
Bank of Ireland (I) 4,247,933 1,620,792
Bank of Marin Bancorp 4,058 206,552
Bankwell Financial Group, Inc. (I) 21,145 403,658
Barclays PLC, ADR 304,756 4,440,295
BB&T Corp. 51,952 2,025,608
Chemical Financial Corp. 25,936 813,353
CIT Group, Inc. 56,449 2,546,979
Citigroup, Inc. 142,208 7,326,556
Danske Bank A/S 109,368 2,883,284
East West Bancorp, Inc. 43,235 1,749,288
Fifth Third Bancorp 89,699 1,690,826
Flushing Financial Corp. 43,445 871,941
Glacier Bancorp, Inc. 99,765 2,509,090
Great Western Bancorp, Inc. 32,051 705,443
Green Bancorp, Inc. (I) 26,001 290,691
Independent Bank Corp. (MA) 14,185 622,296
Independent Bank Corp. (MI) 28,748 368,837
JPMorgan Chase & Co. 107,064 6,485,937
M&T Bank Corp. 13,947 1,771,269
MB Financial, Inc. 22,367 700,311

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Financial Industries Trust (continued)

Shares or
Principal
       Amount        Value
COMMON STOCKS (continued)
Banks (continued)
Nordea Bank AB   32,888 $ 400,591
Regions Financial Corp. 230,378 2,177,072
Royal Bank of Scotland Group PLC, ADR (I) 315,782 3,186,240
Sandy Spring Bancorp, Inc. 21,284 558,279
SKBHC Holdings LLC (I)(R) 516 3,612,116
SpareBank 1 SR-Bank ASA   40,000 278,734
State Bank Financial Corp. 49,161 1,032,381
Sun Bancorp, Inc. (I) 33,114 626,186
SunTrust Banks, Inc. 93,793 3,853,954
SVB Financial Group (I) 34,840   4,426,074
Swedbank AB, A Shares 53,180 1,269,605
Talmer Bancorp, Inc., Class A   76,528 1,172,026
The Community Financial Corp. 880   17,600
The PNC Financial Services Group, Inc. 40,881 3,811,744
TriCo Bancshares 27,289 658,484
U.S. Bancorp 152,262 6,649,282
UniCredit SpA 688,854 4,671,321
Union Bankshares Corp. 74,050 1,644,651
Wells Fargo & Company 78,962 4,295,533
Yadkin Financial Corp. (I) 33,417 678,365
Zions Bancorporation 105,150 2,839,050
94,236,782
Capital markets - 19.5%
American Capital, Ltd. (I) 325,296 4,811,128
Ameriprise Financial, Inc. 42,801 5,600,083
Apollo Global Management LLC, Class A 70,659 1,526,234
Apollo Investment Corp. 56,029 430,023
Intermediate Capital Group PLC 174,561 1,301,998
Invesco, Ltd. 110,074 4,368,837
KKR & Company LP 159,044 3,627,794
Schroders PLC 1,909 90,432
State Street Corp. 25,781 1,895,677
The Blackstone Group LP 175,141 6,811,233
The Carlyle Group LP 92,471 2,505,964
32,969,403
Consumer finance - 2.6%
Discover Financial Services 78,723 4,436,041
Diversified financial services - 0.7%
Berkshire Hathaway, Inc., Class B (I) 8,264 1,192,660
Insurance - 11.3%
American International Group, Inc. 74,651 4,090,128
Assured Guaranty, Ltd. 149,742 3,951,691
CNO Financial Group, Inc. 251,450 4,329,969
Gjensidige Forsikring ASA 66,460 1,146,718
Lincoln National Corp. 56,848 3,266,486
The Hartford Financial Services Group, Inc. 58,298 2,438,022
19,223,014
Real estate investment trusts - 6.2%
DiamondRock Hospitality Company 68,540 968,470
Essex Property Trust, Inc. 6,797 1,562,630
FelCor Lodging Trust, Inc. 123,592 1,420,072
General Growth Properties, Inc. 36,187 1,069,326
Monogram Residential Trust, Inc. 107,893 1,005,563
Rexford Industrial Realty, Inc. 74,344 1,175,379
Simon Property Group, Inc. 16,568 3,241,364
10,442,804
Thrifts and mortgage finance - 0.8%
First Defiance Financial Corp. 10,826 355,309
HomeStreet, Inc. (I) 27,014 494,896
United Community Financial Corp. 89,958 491,171
1,341,376
163,842,080
Information technology - 1.2%
IT services - 1.2%
Visa, Inc., Class A 31,756 2,077,160
TOTAL COMMON STOCKS (Cost $157,878,560) $ 165,919,240
  
WARRANTS - 0.5%
Citigroup, Inc. (Expiration Date: 01/04/2019;
       Strike Price: $106.10) (I) 185,654 135,527
Comerica, Inc. (Expiration Date: 11/14/2018;
       Strike Price: $29.40) (I) 29,110 471,873
The PNC Financial Services Group, Inc.
       (Expiration Date: 12/31/2018; Strike
       Price: $67.33) (I) 6,265 164,143
TOTAL WARRANTS (Cost $878,936) $ 771,543
 
SHORT-TERM INVESTMENTS - 0.9%
Repurchase agreement - 0.9%
Repurchase Agreement with State Street Corp.
       dated 03/31/2015 at 0.000% to be
       repurchased at $1,521,000 on 04/01/2015,
       collateralized by $1,410,000 U.S. Treasury
       Notes, 3.625% due 08/15/2019 (valued at
       $1,556,358, including interest) $ 1,521,000 $ 1,521,000
TOTAL SHORT-TERM INVESTMENTS (Cost $1,521,000) $ 1,521,000
Total Investments (Financial Industries Trust)
       (Cost $160,278,496) - 99.4% $ 168,211,783
Other assets and liabilities, net - 0.6% 1,032,587
TOTAL NET ASSETS - 100.0% $ 169,244,370

Franklin Templeton Founding Allocation Trust

Shares or
Principal
       Amount        Value
INVESTMENT COMPANIES - 100.0%
Affiliated Investment Companies (G) - 100.0%
Equity - 66.6%  
Global, Series NAV (Templeton) 20,733,917 $ 411,982,923
Mutual Shares, Series NAV (Franklin) 28,715,113   412,636,178  
824,619,101
Fixed income - 33.4%
Income, Series NAV (Franklin) 34,452,192 413,081,783
TOTAL INVESTMENT COMPANIES (Cost $946,138,081) $ 1,237,700,884
Total Investments (Franklin Templeton Founding Allocation
       Trust) (Cost $946,138,081) - 100.0% $ 1,237,700,884
Other assets and liabilities, net - 0.0% (32,278 )
TOTAL NET ASSETS - 100.0% $ 1,237,668,606

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Fundamental All Cap Core Trust

Shares or
Principal
       Amount        Value
COMMON STOCKS - 99.7%
Consumer discretionary - 28.8%
Hotels, restaurants and leisure - 1.7%
Starbucks Corp. 308,063 $ 29,173,566
Household durables - 8.8%  
Lennar Corp., Class A 1,511,945   78,333,870
NVR, Inc. (I) 25,266 33,569,924
Tempur Sealy International, Inc. (I) 628,068 36,264,646
148,168,440
Internet and catalog retail - 7.9%
Amazon.com, Inc. (I) 355,390 132,240,616
Specialty retail - 5.6%  
CarMax, Inc. (I) 504,272 34,799,811
Group 1 Automotive, Inc. 324,395 28,005,020
Lowe’s Companies, Inc. 409,215 30,441,504
93,246,335
Textiles, apparel and luxury goods - 4.8%
adidas AG 611,849 48,313,592
Ralph Lauren Corp. 250,653 32,960,870
81,274,462
  484,103,419
Consumer staples - 2.2%
Beverages - 2.2%
Diageo PLC, ADR 121,296 13,411,699
SABMiller PLC 437,049 22,893,397
36,305,096
36,305,096
Energy - 6.2%
Energy equipment and services - 3.7%
National Oilwell Varco, Inc. 200,943 10,045,141
Schlumberger, Ltd. 311,134 25,961,021
Weatherford International PLC (I) 2,032,857 25,004,141
61,010,303
Oil, gas and consumable fuels - 2.5%
Cabot Oil & Gas Corp. 704,098 20,792,014
Range Resources Corp. 412,301 21,456,144
42,248,158
103,258,461
Financials - 27.4%
Banks - 10.1%
Bank of America Corp. 4,858,584 74,773,608
CIT Group, Inc. 558,581 25,203,175
Citigroup, Inc. 1,355,082 69,813,825
169,790,608
Capital markets - 12.1%
AllianceBernstein Holding LP 2,011,494 62,094,820
Morgan Stanley 1,366,208 48,759,964
T. Rowe Price Group, Inc. 432,982 35,062,882
The Goldman Sachs Group, Inc. 303,668 57,080,474
202,998,140
Consumer finance - 1.8%
Santander Consumer USA Holdings, Inc. 1,309,547 30,302,918
Insurance - 3.4%
American International Group, Inc. 1,032,350 56,562,457
459,654,123
Health care - 3.9%
Biotechnology - 1.9%
Amgen, Inc. 198,886 31,791,927
Health care providers and services - 1.5%
AMN Healthcare Services, Inc. (I) 1,108,782 25,579,601
Health care technology - 0.5%
Castlight Health, Inc., B Shares (I) 944,398 7,328,528
64,700,056
Industrials - 7.3%
Aerospace and defense - 1.7%
TransDigm Group, Inc. 126,415 27,649,489
Electrical equipment - 1.7%
Sensata Technologies Holding NV (I) 509,214 29,254,344
Machinery - 0.3%
The Manitowoc Company, Inc. 237,449 5,119,400
Professional services - 1.5%
IHS, Inc., Class A (I) 226,926 25,815,102
Trading companies and distributors - 2.1%
United Rentals, Inc. (I) 249,406 22,735,851
WESCO International, Inc. (I) 182,962 12,787,214
35,523,065
123,361,400
Information technology - 19.7%
Communications equipment - 1.9%
QUALCOMM, Inc. 462,641 32,079,527
Internet software and services - 14.0%
Alibaba Group Holding, Ltd., ADR (I) 46,938 3,907,119
Bankrate, Inc. (I) 2,168,889 24,595,201
eBay, Inc. (I) 779,545 44,964,156
Facebook, Inc., Class A (I) 824,138 67,756,506
Google, Inc., Class A (I) 62,762 34,814,081
Google, Inc., Class C (I) 43,883 24,047,884
LinkedIn Corp., Class A (I) 143,163 35,770,707
235,855,654
IT services - 1.3%
Blackhawk Network Holdings, Inc., Class B (I) 601,002 21,365,621
Software - 1.3%
Workday, Inc., Class A (I) 265,312 22,394,986
Technology hardware, storage and peripherals - 1.2%
NetApp, Inc. 556,710 19,740,937
331,436,725
Materials - 4.2%
Containers and packaging - 2.0%
Avery Dennison Corp. 634,676 33,580,707
Paper and forest products - 2.2%
Louisiana-Pacific Corp. (I) 2,241,826 37,012,547
70,593,254
TOTAL COMMON STOCKS (Cost $1,298,214,663) $ 1,673,412,534

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Fundamental All Cap Core Trust (continued)

Shares or
Principal
       Amount        Value
SHORT-TERM INVESTMENTS - 0.4%
Repurchase agreement - 0.4%    
Barclays Tri-Party Repurchase Agreement  
       dated 03/31/2015 at 0.130% to be
       repurchased at $3,730,013 on 04/01/2015,    
       collateralized by $3,844,600 U.S. Treasury  
       Inflation Indexed Notes 0.250% due
       01/15/2025 (valued at $3,804,631,  
       including interest) $ 3,730,000 $ 3,730,000  
Repurchase Agreement with State Street Corp.
       dated 03/31/2015 at 0.000% to be
       repurchased at $2,437,000 on 04/01/2015,
       collateralized by $2,255,000 U.S. Treasury
       Notes, 3.625% due 08/15/2019 (valued at
       $2,489,069, including interest) 2,437,000 2,437,000
  6,167,000
TOTAL SHORT-TERM INVESTMENTS (Cost $6,167,000) $ 6,167,000
Total Investments (Fundamental All Cap Core Trust)
       (Cost $1,304,381,663) - 100.1% $ 1,679,579,534
Other assets and liabilities, net - (0.1%) (1,388,483 )
TOTAL NET ASSETS - 100.0% $ 1,678,191,051

Fundamental Large Cap Value Trust

Shares or
Principal
       Amount        Value
COMMON STOCKS - 99.1%  
Consumer discretionary - 14.0%
Household durables - 8.3%
Lennar Corp., Class A 1,425,820 $ 73,871,734
NVR, Inc. (I) 23,192 30,814,283
Tempur Sealy International, Inc. (I) 704,022 40,650,230
145,336,247
Specialty retail - 3.0%  
Lowe’s Companies, Inc. 692,909   51,545,501
Textiles, apparel and luxury goods - 2.7%  
adidas AG 603,961 47,690,729
244,572,477
Consumer staples - 10.1%
Beverages - 5.7%
Diageo PLC, ADR 189,726 20,978,004
Heineken Holding NV 277,507 19,096,488
PepsiCo, Inc. 312,643 29,894,924
SABMiller PLC 563,946 29,540,485
99,509,901
Food products - 1.0%
Danone SA 261,523 17,628,705
Household products - 1.3%
The Procter & Gamble Company 272,344 22,315,867
Tobacco - 2.1%
Imperial Tobacco Group PLC 491,930 21,579,123
Philip Morris International, Inc. 207,714 15,647,096
37,226,219
176,680,692
Energy - 9.9%
Energy equipment and services - 1.9%
National Oilwell Varco, Inc. 260,731 13,033,943
Weatherford International PLC (I) 1,614,418 19,857,341
32,891,284
Oil, gas and consumable fuels - 8.0%
Apache Corp. 435,314 26,262,494
Cabot Oil & Gas Corp. 778,387 22,985,768
Chevron Corp. 248,518 26,089,420
Exxon Mobil Corp. 193,844 16,476,740
Occidental Petroleum Corp. 535,905 39,121,065
Southwestern Energy Company (I) 379,541 8,801,556
139,737,043
172,628,327
Financials - 33.7%
Banks - 16.9%
Bank of America Corp. 4,943,693 76,083,435
CIT Group, Inc. 803,270 36,243,542
Citigroup, Inc. 1,438,814 74,127,697
JPMorgan Chase & Co. 1,352,840 81,955,047
Wells Fargo & Company 484,580 26,361,152
294,770,873
Capital markets - 11.0%
AllianceBernstein Holding LP 1,582,739 48,859,153
Morgan Stanley 1,377,325 49,156,729
State Street Corp. 346,927 25,509,542
The Goldman Sachs Group, Inc. 366,455 68,882,546
192,407,970
Consumer finance - 1.6%
Santander Consumer USA Holdings, Inc. 1,217,784 28,179,522
Insurance - 4.2%
American International Group, Inc. 1,348,718 73,896,259
589,254,624
Health care - 6.5%
Biotechnology - 1.3%
Amgen, Inc. 141,250 22,578,813
Health care equipment and supplies - 1.9%
Medtronic PLC 424,344 33,094,589
Pharmaceuticals - 3.3%
Merck & Company, Inc. 490,938 28,219,116
Novartis AG, ADR 289,281 28,525,999
56,745,115
112,418,517
Industrials - 9.0%
Air freight and logistics - 1.7%
FedEx Corp. 178,073 29,462,178
Electrical equipment - 1.8%
Sensata Technologies Holding NV (I) 550,752 31,640,702
Industrial conglomerates - 4.3%
Danaher Corp. 296,576 25,179,302
General Electric Company 2,032,532 50,427,119
75,606,421
Trading companies and distributors - 1.2%
United Rentals, Inc. (I) 231,810 21,131,800
157,841,101

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Fundamental Large Cap Value Trust (continued)

       Shares or
Principal
Amount		        Value
COMMON STOCKS (continued)
Information technology - 12.1%
Communications equipment - 3.7%  
Cisco Systems, Inc.   1,097,541 $ 30,209,816
QUALCOMM, Inc. 490,061 33,980,830
  64,190,646
Software - 2.4%
Microsoft Corp. 621,626 25,272,205
Oracle Corp. 389,356 16,800,712
  42,072,917
Technology hardware, storage and peripherals - 6.0%
Apple, Inc. 514,984 64,079,459
Samsung Electronics Company, Ltd. 30,919 40,094,313
104,173,772
210,437,335
Materials - 3.8%
Containers and packaging - 1.4%
Avery Dennison Corp. 471,810 24,963,467
Paper and forest products - 2.4%
Louisiana-Pacific Corp. (I) 2,533,787 41,832,823
66,796,290
TOTAL COMMON STOCKS (Cost $1,596,261,466) $ 1,730,629,363
  
SHORT-TERM INVESTMENTS - 0.5%
Repurchase agreement - 0.5%
Barclays Tri-Party Repurchase Agreement
       dated 03/31/2015 at 0.130% to be
       repurchased at $5,727,021 on 04/01/2015,
       collateralized by $5,709,100 U.S. Treasury
       Inflation Indexed Notes, 0.125% due
       07/15/2022 (valued at $5,841,591,
       including interest) $ 5,727,000 $ 5,727,000
Repurchase Agreement with State Street Corp.
       dated 03/31/2015 at 0.000% to be
       repurchased at $3,742,000 on 04/01/2015,
       collateralized by $3,460,000 U.S. Treasury
       Notes, 3.625% due 08/15/2019 (valued at       
       $3,819,148, including interest) 3,742,000 3,742,000
9,469,000
TOTAL SHORT-TERM INVESTMENTS (Cost $9,469,000) $ 9,469,000
Total Investments (Fundamental Large Cap Value Trust)
       (Cost $1,605,730,466) - 99.6% $ 1,740,098,363
Other assets and liabilities, net - 0.4% 7,116,878
TOTAL NET ASSETS - 100.0% $ 1,747,215,241

Global Bond Trust

       Shares or
Principal
Amount		        Value
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS - 15.0%
U.S. Government - 14.6%
Treasury Inflation Protected Securities
       0.125%, 07/15/2022 to 01/15/2023 $ 1,620,998 $ 1,629,392
       0.250%, 07/15/2024 to 01/15/2025 16,860,300 16,945,283
       1.375%, 01/15/2020 540,455   584,198
       1.750%, 01/15/2028 3,793,516 4,443,156
       2.375%, 01/15/2025 to 01/15/2027 5,822,640 7,101,137
       2.500%, 01/15/2029 8,056,380 10,297,689
U.S. Treasury Bonds  
       2.750%, 08/15/2042 900,000 936,422
       3.000%, 05/15/2042 700,000 763,930
       3.125%, 11/15/2041 to 08/15/2044 3,600,000 4,033,501
       3.375%, 05/15/2044 500,000 586,133
       3.625%, 08/15/2043 to 02/15/2044 15,400,000 18,834,975
       3.750%, 11/15/2043 2,200,000 2,748,797
       4.250%, 05/15/2039 1,500,000 1,981,992
       4.375%, 11/15/2039 to 05/15/2040 3,250,000 4,389,316
       4.625%, 02/15/2040 500,000   698,477
       5.500%, 08/15/2028 5,000,000 6,954,295
       6.125%, 11/15/2027 1,950,000 2,821,102
       6.250%, 05/15/2030 5,900,000 8,966,619
U.S. Treasury Notes
       2.250%, 11/15/2024 (D) 4,800,000 4,934,251
       2.500%, 08/15/2023 to 05/15/2024 (D) 4,000,000 4,205,220
103,855,885
U.S. Government Agency - 0.4%
Federal Home Loan Mortgage Corp.
       2.476%, 03/01/2035 (P) 62,443 66,709
Federal National Mortgage Association
       2.003%, 12/01/2034 (P) 149,202 156,411
       2.486%, 11/01/2034 (P) 880,148 941,346
       3.000%, 04/14/2045 1,000,000 1,022,489
       4.500%, 03/01/2028 65,240 71,219
       5.136%, 05/01/2035 (P) 95,184 99,926
Government National
       Mortgage Association
       1.625%, 11/20/2023 to 06/20/2030 (P) 101,203 103,642
       2.000%, 04/20/2030 to 05/20/2030 (P) 10,727 11,206
2,472,948
TOTAL U.S. GOVERNMENT AND AGENCY
OBLIGATIONS (Cost $102,923,003) $ 106,328,833
 
FOREIGN GOVERNMENT
OBLIGATIONS - 52.7%
Australia - 0.8%
New South Wales Treasury Corp.
       2.750%, 11/20/2025 AUD 1,500,000 1,730,872
       3.750%, 11/20/2020 100,000 104,926
       4.000%, 05/20/2026 1,500,000 1,280,101
Queensland Treasury Corp.
       4.250%, 07/21/2023 (S) 2,800,000 2,375,621
5,491,520
Brazil - 2.4%
Federative Republic of Brazil
       5.172%, 10/01/2015 * BRL 43,700,000 12,853,514
       13.001%, 01/01/2018 (Z) 19,400,000 4,318,361
17,171,875
Canada - 2.1%
Province of British Columbia
       4.300%, 06/18/2042 CAD 600,000 619,428
Province of Ontario
       2.450%, 06/29/2022 $ 1,300,000 1,332,578
       3.450%, 06/02/2045 CAD 1,100,000 979,522

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Global Bond Trust (continued)

Shares or
Principal
       Amount        Value
FOREIGN GOVERNMENT
OBLIGATIONS (continued)  
Canada (continued)
Province of Ontario (continued)
       3.500%, 06/02/2024 CAD 5,100,000 $ 4,536,465
Province of Quebec    
       2.750%, 08/25/2021 $ 4,000,000 4,176,868
       3.000%, 09/01/2023   CAD 1,700,000 1,457,875
       4.250%, 12/01/2021 2,200,000   2,030,747
15,133,483
France - 7.6%  
Caisse d’Amortissement de la Dette  
       Sociale
       3.375%, 03/20/2024 (S) $ 1,300,000 1,426,734
Government of France
       1.000%, 05/25/2018 EUR 24,700,000 27,487,706
       1.750%, 05/25/2023 700,000 841,233
       3.000%, 04/25/2022 2,500,000 3,219,506
       3.250%, 05/25/2045 1,900,000 3,165,713
       4.000%, 10/25/2038 3,300,000 5,808,276
       4.500%, 04/25/2041 6,100,000 11,802,648
53,751,816
Germany - 0.5%
Federal Republic of Germany
       0.100%, 04/15/2023 1,017,260 1,207,445
       0.750%, 04/15/2018 1,774,987 2,010,701
3,218,146
Greece - 0.4%
Athens Urban Transportation Organisation
       4.851%, 09/19/2016 800,000 619,344
Republic of Greece
       3.800%, 08/08/2017 JPY 410,000,000 2,413,477
3,032,821
Italy - 12.3%
Republic of Italy
       3.250%, 09/01/2046 (S) EUR 3,700,000 5,035,948
       4.000%, 02/01/2037 1,800,000 2,630,463
       4.500%, 05/01/2023 to 03/01/2024 16,400,000 22,507,286
       4.750%, 08/01/2023 to 09/01/2044 (S) 24,200,000 35,114,970
       5.000%, 09/01/2040 4,500,000 7,669,223
       5.500%, 09/01/2022 to 11/01/2022 7,200,000 10,251,322
       6.000%, 08/04/2028 GBP 2,000,000 3,761,784
86,970,996
Japan - 6.2%
Government of Japan
       1.400%, 09/20/2034 JPY 190,000,000 1,666,821
       1.500%, 12/20/2044 100,000,000 861,650
       1.600%, 03/20/2033 1,610,000,000 14,773,782
       1.700%, 09/20/2032 to 09/20/2044 2,860,000,000 26,648,863
43,951,116
Mexico - 2.3%
Government of Mexico
       1.290%, 06/08/2015 1,100,000,000 9,184,026
       7.750%, 05/29/2031 to 11/23/2034 MXN 14,130,000 1,064,894
       8.000%, 12/07/2023 80,000,000 5,983,508
16,232,428
New Zealand - 1.2%
Dominion of New Zealand
       2.000%, 09/20/2025 NZD 3,800,000 3,001,702
       5.000%, 03/15/2019 6,300,000 5,036,085
       6.000%, 12/15/2017 600,000 481,843
8,519,630
Norway - 0.1%
Government of Norway
       3.750%, 05/25/2021 NOK 3,800,000 541,293
541,293
Poland - 3.3%
Republic of Poland
       3.250%, 07/25/2025 PLN 59,900,000 17,163,061
       4.000%, 10/25/2023 20,900,000 6,290,682
23,453,743
Slovenia - 2.4%
Republic of Slovenia
       4.125%, 02/18/2019 $ 1,250,000 1,321,553
       4.700%, 11/01/2016 (S) EUR 2,600,000 2,994,234
       4.750%, 05/10/2018 $ 7,700,000 8,249,472
       5.250%, 02/18/2024 (S) 4,100,000 4,705,775
17,271,034
Spain - 6.2%
Autonomous Community of Catalonia
       3.875%, 04/07/2015 EUR 50,000 53,715
       4.300%, 11/15/2016 1,600,000 1,803,004
       4.900%, 09/15/2021 50,000 62,521
       4.950%, 02/11/2020 200,000 245,873
Kingdom of Spain
       3.800%, 04/30/2024 (S) 12,100,000 15,973,885
       4.400%, 10/31/2023 (S) 6,900,000 9,427,286
       4.700%, 07/30/2041 2,400,000 4,028,702
       5.150%, 10/31/2044 (S) 5,600,000 10,246,499
Xunta de Galicia
       6.131%, 04/03/2018 2,000,000 2,511,269
44,352,754
United Kingdom - 4.9%
Government of United Kingdom
       2.250%, 09/07/2023 GBP 1,700,000 2,670,035
       2.750%, 09/07/2024 1,900,000 3,104,280
       3.250%, 01/22/2044 8,700,000 15,438,816
       3.500%, 01/22/2045 1,700,000 3,158,050
       4.250%, 06/07/2032 to 12/07/2040 3,100,000 6,282,097
       4.500%, 09/07/2034 1,300,000 2,650,613
       4.750%, 12/07/2038 600,000 1,304,564
34,608,455
TOTAL FOREIGN GOVERNMENT
OBLIGATIONS (Cost $400,766,553) $ 373,701,110
 
CORPORATE BONDS - 15.1%
Australia - 1.7%
Australia & New Zealand Banking
       Group, Ltd.
       1.000%, 10/06/2015 (S) $ 9,800,000 9,829,507
Westpac Banking Corp.
       1.850%, 11/26/2018 (S) 2,300,000 2,323,918
12,153,425
Brazil - 0.8%
Petrobras Global Finance BV
       3.151%, 03/17/2020 (P) 900,000 776,250

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Global Bond Trust (continued)

Shares or
Principal
       Amount        Value
CORPORATE BONDS (continued)
Brazil (continued)
Petrobras Global Finance BV (continued)
       3.250%, 03/17/2017 $ 5,100,000   $ 4,704,750
5,481,000
Denmark - 0.8%  
Nykredit Realkredit A/S
       2.000%, 04/01/2015 to 10/01/2015 DKK 9,000,000 1,302,145
       4.000%, 06/03/2036 (P) EUR 1,650,000 1,798,292
       6.000%, 10/01/2029 DKK 65,443 11,208
Realkredit Danmark A/S
       1.300%, 01/01/2038 (P)   309,377 47,017
       2.000%, 01/01/2016 16,700,000 2,441,942
  5,600,604
France - 1.6%  
BNP Paribas Home Loan SFH
       2.200%, 11/02/2015 (S) $ 5,800,000 5,856,376
Cie de Financement Foncier SA  
       2.500%, 09/16/2015 (S) 5,100,000 5,145,951
11,002,327
Germany - 1.7%
FMS Wertmanagement AoeR
       3.375%, 06/17/2021 EUR 2,200,000 2,852,665
KFW
       6.250%, 05/19/2021 AUD 9,900,000 9,106,983
  11,959,648
Greece - 0.1%
Hellenic Railways Organization SA
       5.014%, 12/27/2017 EUR 100,000 72,042
National Bank of Greece SA
       3.875%, 10/07/2016 800,000 736,383
  808,425
Ireland - 0.6%
Depfa ACS Bank
       3.875%, 11/14/2016 1,400,000 1,595,114
       5.125%, 03/16/2037 (S) $ 600,000 769,170
       5.125%, 03/16/2037 1,700,000 2,179,315
4,543,599
Italy - 1.0%
Banca Carige SpA
       3.750%, 11/25/2016 EUR 1,400,000 1,587,552
       3.875%, 10/24/2018 2,800,000 3,355,459
Banco Popolare SC
       3.500%, 03/14/2019 300,000 341,639
Intesa Sanpaolo SpA
       3.625%, 08/12/2015 (S) $ 1,800,000 1,816,920
7,101,570
Ivory Coast - 0.4%
African Development Bank
       5.250%, 03/23/2022 AUD 2,900,000 2,546,705
  2,546,705
Japan - 0.1%
Bank of Tokyo-Mitsubishi UFJ, Ltd.
       1.700%, 03/05/2018 (S) $ 900,000 900,910
  900,910
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 2,650,335
  2,650,335
Luxembourg - 0.3%
Gazprom OAO
       9.250%, 04/23/2019 $ 1,900,000 2,040,790
  2,040,790
Netherlands - 0.5%
ING Bank NV
       2.625%, 12/05/2022 3,500,000 3,601,220
  3,601,220
Sweden - 0.4%
Stadshypotek AB
       4.250%, 10/10/2017 AUD 2,400,000 1,896,715
Swedbank AB
       2.200%, 03/04/2020 (S) $ 1,200,000 1,205,464
3,102,179
Switzerland - 0.6%
EUROFIMA
       6.250%, 12/28/2018 AUD 3,000,000 2,593,350
UBS AG (7.250% to 02/22/2017, then
       5 Year U.S. Swap Rate + 6.061%)
       02/22/2022 $ 1,800,000 1,937,083
  4,530,433
United Kingdom - 1.2%
European Bank for Reconstruction &
       Development
       0.500%, 12/21/2023 AUD 200,000 118,262
Imperial Tobacco Finance PLC
       7.750%, 06/24/2019 GBP 1,400,000 2,552,000
Royal Bank of Scotland Group PLC
       (6.990% to 10/05/2017, then 3 month
       LIBOR + 2.670%)
       10/05/2017 (Q) (S) $ 1,600,000 1,888,000
Tesco PLC
       5.000%, 03/24/2023 GBP 100,000 157,469
       6.125%, 02/24/2022 1,450,000 2,442,631
The Royal Bank Of Scotland PLC
       9.500%, 03/16/2022 (P) $ 1,200,000 1,353,355
8,511,717
United States - 2.9%
Ally Financial, Inc.
       4.625%, 06/26/2015 2,000,000 2,010,000
Altria Group, Inc.
       9.250%, 08/06/2019 443,000 568,405
Bank of America Corp.
       2.600%, 01/15/2019 500,000 508,896
Computer Sciences Corp.
       6.500%, 03/15/2018 2,050,000 2,265,371
OneMain Financial Holdings, Inc.
       6.750%, 12/15/2019 (S) 300,000 309,750
       7.250%, 12/15/2021 (S) 200,000 207,000
Red Oak Power LLC
       8.540%, 11/30/2019 672,421 714,448
Sprint Communications, Inc.
       8.375%, 08/15/2017 5,637,000 6,116,145
       9.125%, 03/01/2017 100,000 109,250

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Global Bond Trust (continued)

Shares or
Principal
       Amount        Value
CORPORATE BONDS (continued)
United States (continued)
Starwood Hotels & Resorts    
       Worldwide, Inc.
       6.750%, 05/15/2018 $ 3,000,000 $ 3,434,220
Tesoro Logistics LP
       6.125%, 10/15/2021 2,200,000 2,266,000
The Cleveland Electric Illuminating
       Company    
       5.700%, 04/01/2017   1,560,000 1,671,162
Wells Fargo & Company (5.875% to  
       06/15/2025, then 3 month
       LIBOR + 3.990%)
       06/15/2025 (Q) 400,000 423,080
20,603,727
TOTAL CORPORATE BONDS (Cost $109,522,144) $ 107,138,614
 
MUNICIPAL BONDS - 0.0%
Iowa Tobacco Settlement Authority,
       Series A 6.500%, 06/01/2023 325,000 325,328
TOTAL MUNICIPAL BONDS (Cost $325,000) $ 325,328
 
COLLATERALIZED MORTGAGE
OBLIGATIONS - 11.6%
Australia - 0.1%
Puma Finance PTY, Ltd., Series 2006-G5,
       Class A1
       0.402%, 02/21/2038 (P) (S) 198,429 197,394
The Superannuation Member Home Loan
       Programme, Series 2009-3, Class A1
       3.680%, 11/07/2040 (P) AUD 541,129 412,744
Torrens Trust, Series 2007-1, Class A
       2.685%, 10/19/2038 (P) 607,890 461,283
1,071,421
Italy - 0.7%
Berica ABS SRL, Series 2011-1, Class A1
       0.321%, 12/31/2055 (P) EUR 948,150 1,014,124
Creso S.R.L, Series 2, Class A
       0.721%, 12/30/2060 (P) 3,628,614 3,897,392
4,911,516
United Kingdom - 2.9%
Alba PLC, Series 2006-2, Class A3A
       0.734%, 12/15/2038 (P) GBP 262,629 368,011
Business Mortgage Finance 7 PLC,
       Series 7X, Class A1
       2.562%, 02/15/2041 (P) 1,113,246 1,639,929
Darrowby NO 2 PLC, Series 2012-1,
       Class A
       2.265%, 02/20/2044 (P) 1,778,213 2,683,767
Fosse Master Issuer PLC, Series 2012-1A,
       Class 2B2
       2.663%, 10/18/2054 (P) (S) 3,100,000 4,631,098
Great Hall Mortgages PLC, Series 2007-1,
       Class A2A
       0.694%, 03/18/2039 (P) 1,403,357 1,984,193
Mansard Mortgages PLC, Series 2007-2X,
       Class A1
       1.214%, 12/15/2049 (P) 6,347,853 9,191,560
  20,498,558
United States - 7.9%
Adjustable Rate Mortgage Trust,
       Series 2005-5, Class 2A1
       2.760%, 09/25/2035 (P) 133,483 117,955
Alternative Loan Trust
       Series 2006-OA9, Class 2A1B,
              0.376%, 07/20/2046 (P) 471,192 337,175
       Series 2007-OA3, Class 1A1,
              0.314%, 04/25/2047 (P) 3,935,939 3,312,624
American Home Mortgage
       Investment Trust, Series 2004-3,
       Class 5A
       2.069%, 10/25/2034 (P) 47,051 47,118
Banc of America Funding Corp.
       Series 2005-E , Class 1A1,
              0.466%, 05/20/2035 (P) 341,873 234,319
       Series 2006-J, Class 4A1,
              2.868%, 01/20/2047 (P) 144,099 120,056
Banc of America Mortgage
       Securities, Inc., Series 2005-B,
       Class 2A2
       2.657%, 03/25/2035 (P) 828,778 756,454
Bear Stearns Adjustable
       Rate Mortgage Trust
       Series 2003-6, Class 1A1,
              2.500%, 08/25/2033 (P) 76,174 76,722
       Series 2003-7, Class 6A,
              2.466%, 10/25/2033 (P) 95,242 95,898
       Series 2003-9, Class 2A1,
              2.797%, 02/25/2034 (P) 17,059 16,676
       Series 2004-2, Class 22A,
              2.648%, 05/25/2034 (P) 223,396 215,004
       Series 2004-2, Class 23A,
              2.482%, 05/25/2034 (P) 88,397 81,993
       Series 2004-9, Class 22A1,
              3.015%, 11/25/2034 (P) 74,535 74,930
       Series 2005-12, Class 23A1,
              2.486%, 02/25/2036 (P) 882,212 726,880
       Series 2005-2, Class A1,
              2.680%, 03/25/2035 (P) 1,090,935 1,101,685
       Series 2005-2, Class A2,
              2.515%, 03/25/2035 (P) 911,072 912,790
Bear Stearns Alt-A Trust
       Series 2005-7, Class 22A1,
              2.651%, 09/25/2035 (P) 1,130,112 965,874
       Series 2005-9, Class 24A1,
              2.589%, 11/25/2035 (P) 823,914 632,929
Bear Stearns Structured
       Products, Inc. Trust, Series 2007-R6,
       Class 1A1
       2.514%, 01/26/2036 (P) 1,954,359 1,537,422
Citigroup Mortgage Loan Trust, Inc.
       Series 2005-6, Class A1,
              2.230%, 09/25/2035 (P) 356,689 358,895
       Series 2005-6, Class A2,
              2.280%, 09/25/2035 (P) 416,112 416,871
Countrywide Alternative Loan Trust
       Series 2005-21CB, Class A3,
              5.250%, 06/25/2035 164,180 151,106
       Series 2005-56, Class 2A2,
              2.168%, 11/25/2035 (P) 110,438 92,411
       Series 2005-56, Class 2A3,
              1.628%, 11/25/2035 (P) 132,435 107,454

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Global Bond Trust (continued)

Shares or
Principal
       Amount        Value
COLLATERALIZED MORTGAGE
OBLIGATIONS (continued)
United States (continued)
Countrywide Alternative Loan Trust (continued)
       Series 2007-11T1, Class A12,
              0.524%, 05/25/2037 (P) $ 383,211 $ 233,351
       Series 2007-16CB, Class 5A1,  
              6.250%, 08/25/2037 174,180 154,483
Countrywide Home Loan Mortgage  
       Pass Through Trust  
       Series 2004-12, Class 11A1,
              2.590%, 08/25/2034 (P) 66,538 58,135
       Series 2004-22, Class A3,    
              2.408%, 11/25/2034 (P) 219,990   207,363
       Series 2004-HYB5, Class 2A1,
              2.349%, 04/20/2035 (P) 62,877 62,876
       Series 2004-25, Class 1A1,
              0.504%, 02/25/2035 (P) 43,283 39,702
       Series 2004-25, Class 2A1,
              0.514%, 02/25/2035 (P) 65,966 59,293
       Series 2005-2, Class 2A1,
              0.494%, 03/25/2035 (P) 93,974 89,591
Credit Suisse First Boston
       Mortgage Securities Corp.
       Series 2003-AR18, Class 2A3,
              2.244%, 07/25/2033 (P) 17,736 17,576
       Series 2003-AR20, Class 2A1,
              2.474%, 08/25/2033 (P) 213,478 215,038
       Series 2003-8, Class 5A1,
              6.500%, 04/25/2033 18,764 19,218
DBRR Trust, Series 2013-EZ2, Class A
       0.853%, 02/25/2045 (P) (S) 416,726 416,630
DSLA Mortgage Loan Trust,
       Series 2006-AR2, Class 2AB3
       0.488%, 10/19/2036 (P) 1,472,013 612,645
Federal Home Loan Mortgage Corp.,
       Series T-62, Class 1A1
       1.314%, 10/25/2044 (P) 1,319,841 1,354,465
Federal National Mortgage Association
       Series 2002-W8, Class F,
              0.574%, 09/25/2032 (P) 5,269 5,264
       Series 2004-W2, Class 5AF,
              0.524%, 03/25/2044 (P) 50,375 50,340
       Series 2011-53, Class FT,
              0.754%, 06/25/2041 (P) 3,179,580 3,222,826
First Horizon Mortgage Pass
       Through Trust, Series 2005-AR3,
       Class 2A1
       2.610%, 08/25/2035 (P) 128,266 116,957
First Republic Mortgage Loan Trust,
       Series 2001-FRB1, Class A
       0.525%, 11/15/2031 (P) 62,610 59,517
GMACM Mortgage Corp. Loan Trust,
       Series 2004-AR1, Class 22A
       2.919%, 06/25/2034 (P) 21,455 20,588
Government National Mortgage
       Association, Series 2004-68, Class ZC
       6.000%, 08/20/2034 2,535,410 2,915,660
GreenPoint Mortgage Funding Trust,
       Series 2006-OH1, Class A1
       0.354%, 01/25/2037 (P) 275,226 208,921
GreenPoint Mortgage Pass-Through
       Certificates, Series 2003-1, Class A1
       2.784%, 10/25/2033 (P) 17,512 17,247
GS Mortgage Securities Corp. II,
       Series 2012-GCJ9, Class XA IO
       2.350%, 11/10/2045 4,358,343 500,778
GSR Mortgage Loan Trust, Series 2003-1,
       Class A2
       1.860%, 03/25/2033 (P) 67,445 66,224
HarborView Mortgage Loan Trust
       Series 2003-1, Class A,
              2.481%, 05/19/2033 (P) 168,893 167,465
       Series 2005-4, Class 3A1,
              2.608%, 07/19/2035 (P) 53,471 48,089
IndyMac Index Mortgage Loan Trust,
       Series 2004-AR11, Class 2A
       2.523%, 12/25/2034 (P) 81,184 73,696
JPMorgan Alternative Loan Trust,
       Series 2006-A6, Class 2A1
       5.500%, 11/25/2036 (P) 3,264 3,225
JPMorgan Mortgage Trust
       Series 2003-A2, Class 3A1,
              1.990%, 11/25/2033 (P) 91,890 90,581
       Series 2006-S2, Class 1A3,
              5.500%, 07/25/2036 491,437 466,679
       Series 2007-A1, Class 5A6,
              2.556%, 07/25/2035 (P) 382,162 367,543
       Series 2007-A1, Class 5A5,
              2.556%, 07/25/2035 (P) 420,378 427,044
MASTR Adjustable Rate Mortgages Trust,
       Series 2007-HF1, Class A1
       0.414%, 05/25/2037 (P) 328,796 221,604
Merrill Lynch Mortgage Investors Trust
       Series 2003-A2, Class 1A1,
              2.216%, 02/25/2033 (P) 140,331 133,335
       Series 2005-2, Class 1A,
              1.582%, 10/25/2035 (P) 581,135 563,095
       Series 2005-3, Class 4A,
              0.424%, 11/25/2035 (P) 682,393 635,928
       Series 2005-A10, Class A,
              0.384%, 02/25/2036 (P) 3,828,849 3,495,081
       Series 2005-A8, Class A3A2,
              0.424%, 08/25/2036 (P) 79,237 75,690
Merrill Lynch/Countrywide
       Commercial Mortgage Trust
       Series 2007-8, Class A3,
              5.874%, 08/12/2049 (P) 3,200,000 3,469,584
       Series 2006-3, Class A4,
              5.414%, 07/12/2046 (P) 2,198,913 2,298,836
MRFC Mortgage Pass Through Trust,
       Series 2000-TBC3, Class A1
       0.615%, 12/15/2030 (P) 34,701 33,078
NCUA Guaranteed Notes Trust
       Series 2010-R1, Class 1A,
              0.621%, 10/07/2020 (P) 2,381,279 2,395,219
       Series 2010-R2, Class 1A,
              0.545%, 11/06/2017 (P) 5,591,500 5,606,105
Residential Accredit Loans, Inc.
       Series 2006-QA2, Class 2A1,
              3.568%, 02/25/2036 (P) 664,333 492,599
       Series 2006-QO6, Class A1,
              0.354%, 06/25/2046 (P) 1,899,364 845,244
       Series 2007-QH4, Class A2,
              0.404%, 05/25/2037 (P) 310,009 82,119

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Global Bond Trust (continued)

Shares or
Principal
       Amount        Value
COLLATERALIZED MORTGAGE
OBLIGATIONS (continued)
United States (continued)
Residential Accredit Loans, Inc. (continued)
       Series 2007-QO2, Class A1,
              0.324%, 02/25/2047 (P) $ 543,835 $ 309,288
Residential Asset Securitization Trust,  
       Series 2006-R1, Class A2  
       0.574%, 01/25/2046 (P) 528,593   274,837
Residential Funding Mortgage  
       Securities Trust, Series 2005-SA4,  
       Class 1A21
       2.990%, 09/25/2035 (P) 156,306 123,544
Sequoia Mortgage Trust
       Series 5, Class A,
              0.878%, 10/19/2026 (P) 25,027 24,550
       Series 2003-4, Class 2A1,
              0.526%, 07/20/2033 (P) 133,320 125,143
Sovereign Commercial Mortgage
       Securities Trust, Series 2007-C1,
       Class D
       5.986%, 07/22/2030 (P) (S) 1,100,000 1,100,066
Structured Adjustable Rate
       Mortgage Loan Trust
       Series 2004-1, Class 4A1,
              2.545%, 02/25/2034 (P) 134,395 134,357
       Series 2004-12, Class 7A1,
              2.694%, 09/25/2034 (P) 286,683 286,680
       Series 2004-4, Class 3A2,
              2.423%, 04/25/2034 (P) 283,064 283,195
       Series 2005-18, Class 6A1,
              2.490%, 09/25/2035 (P) 348,523 308,882
Structured Asset
       Mortgage Investments, Inc.
       Series 2006-AR5, Class 1A1,
              0.384%, 05/25/2046 (P) 587,341 436,906
       Series 2004-AR3, Class 1A2,
              0.758%, 07/19/2034 (P) 76,088 75,271
Thornburg Mortgage Securities Trust
       Series 2003-5, Class 1A,
              2.013%, 10/25/2043 (P) 684,654 670,226
       Series 2007-2, Class A1,
              1.424%, 06/25/2037 (P) 865,358 753,430
       Series 2007-2, Class A2A,
              1.941%, 06/25/2037 (P) 697,770 670,126
       Series 2007-2, Class A3A,
              5.750%, 06/25/2037 (P) 1,258,050 1,253,828
       Series 2007-3, Class 2A1,
              1.424%, 06/25/2047 (P) 227,409 202,679
       Series 2007-3, Class 3A1,
              1.421%, 06/25/2047 (P) 416,215 372,061
       Series 2007-3, Class 4A1,
              5.921%, 06/25/2047 (P) 446,371 434,269
Wachovia Bank Commercial
       Mortgage Trust, Series 2006-C28,
       Class A4
       5.572%, 10/15/2048 167,684 176,319
WaMu Mortgage Pass-
       Through Certificates
       Series 2002-AR17, Class 1A,
              1.328%, 11/25/2042 (P) 279,881 261,193
       Series 2002-AR2, Class A,
              1.948%, 02/27/2034 (P) 51,411 49,890
       Series 2003-AR5, Class A7,
              2.444%, 06/25/2033 (P) 83,507 84,110
       Series 2005-AR2, Class 2A1A,
              0.484%, 01/25/2045 (P) 50,347 46,656
Washington Mutual Alternative Mortgage
       Pass-Through Certificates,
       Series 2006-AR5, Class 3A
       1.068%, 07/25/2046 (P) 329,760 190,429
Wells Fargo Mortgage Backed
       Securities Trust, Series 2005-AR11,
       Class 1A1
       2.615%, 06/25/2035 (P) 1,361,571 1,348,338
WFRBS Commercial Mortgage Trust,
       Series 2013-C11, Class XA IO
       1.490%, 03/15/2045 (S) 12,562,414 882,371
56,086,412
TOTAL COLLATERALIZED MORTGAGE
OBLIGATIONS (Cost $85,532,200) $ 82,567,907
 
ASSET BACKED SECURITIES - 1.0%
Cayman Islands - 0.2%
CIFC Funding, Ltd., Series 2007-1A,
       Class A1l
       0.516%, 05/10/2021 (P) (S) 1,125,536 1,112,640
Franklin CLO, Ltd., Series 5A, Class A2
       0.531%, 06/15/2018 (P) (S) 238,715 237,914
Fraser Sullivan CLO, Ltd.,
       Series 2006-1A, Class A2
       0.531%, 03/15/2020 (P) (S) 74,755 74,696
1,425,250
Ireland - 0.2%
Magi Funding PLC, Series 2010-1A,
       Class A
       0.429%, 04/11/2021 (P) (S) EUR 317,793 339,657
Mercator CLO II PLC, Series X, Class A1
       0.283%, 02/18/2024 (P) 481,239 513,157
Race Point III CLO, Ltd., Series 2006-3,
       Class A
       0.513%, 04/15/2020 (P) (S) $ 626,988 625,378
  1,478,192
Luxembourg - 0.1%
Penta CLO SA, Series 2007-1X, Class A1
       0.398%, 06/04/2024 (P) EUR 697,367 744,334
  744,334
Netherlands - 0.3%
Halcyon Structured Asset Management
       European CLO, Series 2006-II,
       Class BV
       0.381%, 01/25/2023 (P) 578,456 618,098
Highlander Euro CDO III BV,
       Series 2007-3X, Class A
       0.281%, 05/01/2023 (P) 1,215,173 1,287,016
  1,905,114
United States - 0.2%
Access Group, Inc., Series 2008-1,
       Class A
       1.556%, 10/27/2025 (P) $ 1,059,861 1,062,053

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Global Bond Trust (continued)

Shares or
Principal
Amount		 Value
ASSET BACKED SECURITIES (continued)
United States (continued)              
Amortizing Residential Collateral Trust,
       Series 2002-BC4, Class A
       0.754%, 07/25/2032 (P) $ 6,344 $ 5,857
Amresco Residential Securities,    
       Series 1999-1, Class A  
       1.114%, 06/25/2029 (P) 27,650 25,510
First Alliance Mortgage Loan,
       Series 1997-4, Class A3
       0.168%, 12/20/2027 (P) 15,006 14,330
Home Equity Asset Trust, Series 2002-1,
       Class A4  
       0.771%, 11/25/2032 (P)   1,283 1,134
Residential Asset Mortgage
       Products, Inc. Trust, Series 2002-RS3
       0.731%, 06/25/2032 (P) 11,508 10,791
Residential Asset Securities Corp. Trust,
       Series 2002-KS4, Class AIIB
       0.674%, 07/25/2032 (P) 26,936 22,910
Securitized Asset Backed
       Receivables LLC Trust,
       Series 2007-NC1, Class A2A
       0.224%, 12/25/2036 (P) 57,346 32,629
Small Business Administration
       Participation Certificates,
       Series 2000-20K, Class 1
       7.220%, 11/01/2020 24,095 25,460
1,200,674
TOTAL ASSET BACKED SECURITIES (Cost $7,340,138) $ 6,753,564
 
TERM LOANS (M) - 0.1%
United Kingdom - 0.1%
Virgin Media Investment Holdings, Ltd.
       3.500%, 06/07/2020 512,886 512,102
  512,102
TOTAL TERM LOANS (Cost $511,895) $ 512,102
 
COMMON STOCKS - 0.0%
Financials - 0.0%
Rescap Liquidating Trust (I) 5,054 53,067
53,067
TOTAL COMMON STOCKS (Cost $15,920) $ 53,067
 
PREFERRED SECURITIES - 0.0%
United States - 0.0%
Navient Corp., 2.806% 9,800 $ 236,670
236,670
TOTAL PREFERRED SECURITIES (Cost $110,250) $ 236,670
 
ESCROW SHARES - 0.2%
United States - 0.2%
Lehman Brothers Holdings, Inc.
       5.460%, 12/30/2016 (I) 4,100,000 579,125
       5.625%, 01/24/2049 (I) 4,500,000 646,875
       6.875%, 05/02/2018 (I) 2,100,000 304,500
  1,530,500
TOTAL ESCROW SHARES (Cost $0) $ 1,530,500
 
PURCHASED OPTIONS - 0.0%
Put options - 0.0%
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 $ 19,480
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 10,018
  29,498
Call options - 0.0%
Over the Counter on the USD vs. JPY
       (Expiration Date: 05/07/2015; Strike
       Price: $124.00; Counterparty:
       Barclays Capital) (I) 2,500,000 5,565
Over the Counter on the USD vs. JPY
       (Expiration Date: 05/07/2015; Strike
       Price: $124.00; Counterparty: HSBC
       Bank USA) (I) 11,800,000 26,267
31,832
TOTAL PURCHASED OPTIONS (Cost $957,763) $ 61,330
 
CERTIFICATE OF DEPOSIT - 1.6%
Credit Suisse 0.552%, 08/24/2015 $ 6,600,000 $ 6,600,370
Intesa Sanpaolo SpA
       1.632%, 04/11/2016 (P) 4,700,000 4,714,617
TOTAL CERTIFICATE OF DEPOSIT (Cost $11,300,000) $ 11,314,987
 
SHORT-TERM INVESTMENTS - 9.9%
U.S. Government - 0.2%
U.S. Treasury Bills
       0.011%, 06/04/2015 (D) * 300,000 299,991
       0.012%, 06/11/2015 (D) * 264,000 263,990
       0.018%, 05/21/2015 (D) * 414,000 413,984
       0.020%, 05/28/2015 (D) * 691,000 690,962
1,668,927
U.S. Government Agency - 2.3%
Federal Home Loan Bank Discount Notes
       0.051%, 04/02/2015 * 6,800,000 6,799,991
       0.078%, 04/24/2015 * 6,200,000 6,199,839
       0.092%, 04/29/2015 * 2,900,000 2,899,910
       0.672%, 05/22/2015 * 100,000 99,994
15,999,734
Repurchase agreement - 7.4%
Repurchase Agreement with Royal Bank
       of Canada dated 03/31/2015 at 0.320%
       to be repurchased at $51,600,459 on
       04/01/2015, collateralized by
       $49,615,000 U.S. Treasury Notes,
       2.625% due 08/15/2020 (valued at
       $52,775,476, including interest) 51,600,000 51,600,000

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Global Bond Trust (continued)

Shares or
Principal
       Amount        Value
SHORT-TERM INVESTMENTS (continued)
Repurchase agreement (continued)
Repurchase Agreement with State
       Street Corp. dated 03/31/2015 at
       0.000% to be repurchased at $776,000  
       on 04/01/2015, collateralized by
       $720,000 U.S. Treasury Notes, 3.625%  
       due 08/15/2019 (valued at $794,736,  
       including interest) $ 776,000 $ 776,000
  52,376,000  
TOTAL SHORT-TERM INVESTMENTS (Cost $70,044,544) $ 70,044,661
Total Investments (Global Bond Trust)
       (Cost $789,349,410) - 107.2%   $ 760,568,673
Other assets and liabilities, net - (7.2%)   (50,874,172 )
TOTAL NET ASSETS - 100.0% $ 709,694,501
 
SALE COMMITMENTS OUTSTANDING - (17.1)%
U.S. Government Agency - (17.1)%
Federal National Mortgage Association
       3.500%, TBA (C) (4,000,000 ) (4,202,188 )
       3.500%, TBA (C) (11,100,000 ) (11,632,887 )
       4.000%, TBA (C) $ (33,000,000 ) (35,228,061 )
       4.500%, TBA (C) (64,500,000 ) (70,181,128 )
TOTAL SALE COMMITMENTS
OUTSTANDING (Cost $(120,903,241)) $ (121,244,264 )

Global Trust

Shares or
Principal
       Amount        Value
COMMON STOCKS - 99.0%
Brazil - 0.7%
Petroleo Brasileiro SA, ADR 771,260 $ 4,696,973
4,696,973
Canada - 1.7%
Suncor Energy, Inc. 18,400 537,668
Talisman Energy, Inc. 1,478,070 11,331,617
11,869,285
China - 1.3%
China Shenhua Energy Company, Ltd.,
       H Shares 1,758,990 4,486,654
China Telecom Corp., Ltd., ADR 63,840 4,107,466
Dongfang Electric Corp., Ltd., H Shares 354,156 683,369
9,277,489
Denmark - 0.6%
FLSmidth & Company A/S (L) 97,678 4,389,117
4,389,117
France - 9.3%
AXA SA 416,675 10,487,327
BNP Paribas SA 157,428 9,578,830
Cie Generale des Etablissements Michelin 100,817 10,025,702
Credit Agricole SA 643,988 9,463,341
Sanofi 116,374 11,492,940
Technip SA 54,712 3,309,396
Total SA 214,886 10,681,299
65,038,835
Germany - 5.5%
Commerzbank AG (I) 176,910 2,430,945
Deutsche Lufthansa AG 688,266 9,637,529
Merck KGaA 92,112 10,308,935
Metro AG 192,410 6,520,718  
SAP SE 14,430 1,042,958
Siemens AG 76,629 8,287,712
38,228,797
Hong Kong - 1.4%
China Mobile, Ltd. 224,500 2,925,772  
Kunlun Energy Company, Ltd. 6,808,940 6,613,235
9,539,007
Ireland - 4.1%
CRH PLC 532,547 13,927,560
Medtronic PLC 189,570 14,784,564
28,712,124
Israel - 2.4%
Teva Pharmaceutical Industries, Ltd., ADR 269,510 16,790,473
16,790,473
Italy - 2.2%
Eni SpA 361,942 6,264,519
Saipem SpA (I)(L) 64,496 656,050
UniCredit SpA 1,258,062 8,531,252
15,451,821
Japan - 3.1%
Konica Minolta, Inc. 384,810 3,899,796
Nissan Motor Company, Ltd. 912,300 9,278,595
Toyota Motor Corp. 121,450 8,477,663
21,656,054
Netherlands - 5.9%
Aegon NV 684,730 5,406,375
Akzo Nobel NV 138,227 10,451,249
ING Groep NV (I) 564,306 8,265,909
Koninklijke Philips NV 182,255 5,170,548
NN Group NV (I) 17,082 484,269
QIAGEN NV (I) 149,915 3,762,013
Royal Dutch Shell PLC, B Shares 180,226 5,614,072
TNT Express NV 351,140 2,230,363
41,384,798
Portugal - 1.0%
Galp Energia SGPS SA 615,176 6,652,680
6,652,680
Russia - 1.0%
MMC Norilsk Nickel OJSC, ADR 408,519 7,282,067
7,282,067
Singapore - 1.9%
DBS Group Holdings, Ltd. 507,510 7,525,285
Singapore Telecommunications, Ltd. 1,855,100 5,907,024
13,432,309
South Korea - 4.6%
KB Financial Group, Inc., ADR 237,588 8,348,842
POSCO 22,550 4,928,708
Samsung Electronics Company, Ltd. 14,610 18,945,567
32,223,117
Spain - 1.3%
Telefonica SA 653,962 9,305,521
9,305,521

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Global Trust (continued)

Shares or
Principal
       Amount        Value
COMMON STOCKS (continued)
Sweden - 1.9%
Getinge AB, B Shares (L) 361,144 $ 8,923,434
Telefonaktiebolaget LM Ericsson, B Shares 361,217 4,535,058
13,458,492
Switzerland - 4.3%  
Credit Suisse Group AG (I) 368,512 9,914,428
Roche Holding AG 49,452 13,589,019
Swiss Re AG 64,435 6,215,269
29,718,716
Thailand - 0.2%    
Bangkok Bank PCL 294,700 1,669,727
1,669,727
Turkey - 1.2%
Turkcell Iletisim Hizmetleri AS, ADR (I) 639,720 8,335,552
8,335,552
United Kingdom - 10.9%
Aviva PLC 625,393 5,004,925
BAE Systems PLC 717,018 5,556,552
BP PLC 999,612 6,479,621
GlaxoSmithKline PLC 406,743 9,363,159
HSBC Holdings PLC (L) 1,004,839 8,599,187
International Consolidated
       Airlines Group SA (I) 348,793 3,108,853
Kingfisher PLC 1,932,055 10,900,747
Michael Kors Holdings, Ltd. (I) 47,429 3,118,457
Noble Corp. PLC (L) 359,590 5,134,945
Serco Group PLC (L) 949,001 1,926,070
Sky PLC 410,505 6,039,318
Tesco PLC 1,880,624 6,712,964
Vodafone Group PLC 1,318,475 4,314,460  
76,259,258
United States - 32.5%
Actavis PLC (I) 22,238 6,618,474
American International Group, Inc. 222,750 12,204,473
Amgen, Inc. 86,810 13,876,579
Baker Hughes, Inc. 110,260 7,010,331
Best Buy Company, Inc. 141,260 5,338,215
Capital One Financial Corp. 22,180 1,748,228
Chesapeake Energy Corp. (L) 216,790 3,069,746
Chevron Corp. 57,040 5,988,059
Cisco Systems, Inc. 364,710 10,038,643
Citigroup, Inc. 300,860 15,500,307
Comcast Corp., Class A 277,730 15,570,932
CVS Health Corp. 55,870 5,766,343
Flextronics International, Ltd. (I) 295,610 3,746,857
Gilead Sciences, Inc. (I) 19,410 1,904,703
Halliburton Company 5,800 254,504
Hewlett-Packard Company 369,330 11,508,323
JPMorgan Chase & Co. 168,960 10,235,597
Merck & Company, Inc. 53,840 3,094,723
Microsoft Corp. 498,280 20,257,573
Morgan Stanley 348,780 12,447,958
Navistar International Corp. (I)(L) 227,630 6,715,085
News Corp. (I) 124,287 1,989,835
Oracle Corp. 78,500 3,387,275
Pfizer, Inc. 396,200 13,783,798
SunTrust Banks, Inc. 194,480 7,991,183
Target Corp. 67,980 5,579,119
The Walt Disney Company 24,780 2,599,174
Twenty-First Century Fox, Inc., Class A 249,780 8,452,555
United Parcel Service, Inc., Class B 82,050 7,953,927
Verizon Communications, Inc. 52,775 2,566,448
227,198,967
TOTAL COMMON STOCKS (Cost $615,764,081) $ 692,571,179
 
RIGHTS - 0.1%
Serco Group PLC (I)(N) 949,000 577,174
Telefonica SA (Expiration
       Date: 04/06/2015) (I)(N) 653,962 105,475
TOTAL RIGHTS (Cost $1,450,898) $ 682,649
 
SECURITIES LENDING COLLATERAL - 4.1%
John Hancock
       Collateral Trust, 0.1102% (W)(Y) 2,870,966 28,724,013
TOTAL SECURITIES LENDING
COLLATERAL (Cost $28,724,458) $ 28,724,013
                
SHORT-TERM INVESTMENTS - 0.3%              
U.S. Government Agency - 0.3%
Federal Farm Credit Bank Discount Note
       0.010%, 04/01/2015* $ 2,000,000 $ 1,999,999
1,999,999
TOTAL SHORT-TERM INVESTMENTS (Cost $2,000,000) $ 1,999,999
Total Investments (Global Trust) (Cost $647,939,437) - 103.5% $ 723,977,840
Other assets and liabilities, net - (3.5%) (24,664,845 )
TOTAL NET ASSETS - 100.0% $ 699,312,995
 
Health Sciences Trust
Shares or
Principal
Amount Value
COMMON STOCKS - 95.0%
Consumer staples - 2.2%
Food and staples retailing - 2.2%
CP ALL PCL 283,700 $ 357,454
CVS Health Corp. 12,900 1,331,409
Diplomat Pharmacy, Inc. (I) 25,500 876,702
Diplomat Pharmacy, Inc. (I) 15,400 532,532
Rite Aid Corp. (I) 622,400 5,408,656
8,506,753
Health care - 89.3%
Biotechnology - 35.4%
Abcam PLC 103,333 742,234
ACADIA Pharmaceuticals, Inc. (I) 64,000 2,085,760
Acceleron Pharma, Inc. (I) 27,000 1,027,620
Acorda Therapeutics, Inc. (I) 4,961 165,102
Advaxis, Inc. (I) 52,052 751,631
Agios Pharmaceuticals, Inc. (I) 1,600 150,880
Alexion Pharmaceuticals, Inc. (I) 77,840 13,489,672
Alkermes PLC (I) 87,700 5,347,069
Array BioPharma, Inc. (I) 160,000 1,179,200
Avalanche Biotechnologies, Inc. (I) 9,032 365,977
Bellicum Pharmaceuticals, Inc. (I) 19,152 429,116
Bellicum Pharmaceuticals, Inc. (I) 6,200 143,654
Biogen, Inc. (I) 22,119 9,339,527
BioMarin Pharmaceutical, Inc. (I) 45,200 5,632,824
Bluebird Bio, Inc. (I) 21,200 2,560,324

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Health Sciences Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)    
Biotechnology (continued)    
Calithera Biosciences, Inc. (I) 8,493 $ 139,455
Calithera Biosciences, Inc. (I) 5,500   90,310
Celgene Corp. (I) 31,832   3,669,593
Celladon Corp. (I) 21,100   399,634
Cellectis SA, ADR (I) 4,800   166,032
Chimerix, Inc. (I) 29,000   1,093,010
Clovis Oncology, Inc. (I) 26,800   1,989,364
Dyax Corp. (I) 66,300   1,110,857
Exelixis, Inc. (I) 154,900   398,093
FibroGen, Inc. (I) 14,900   467,562
Five Prime Therapeutics, Inc. (I) 14,200   324,470
Gilead Sciences, Inc. (I) 144,992   14,228,065
Immune Design Corp. (I) 8,600   181,546
Incyte Corp. (I) 100,100   9,175,166
Insmed, Inc. (I) 97,100   2,019,680
Intercept Pharmaceuticals, Inc. (I) 4,000   1,128,080
Ironwood Pharmaceuticals, Inc. (I) 32,100   513,600
Medivation, Inc. (I) 1,600   206,512
Momenta Pharmaceuticals, Inc. (I) 40,700   618,640
Neurocrine Biosciences, Inc. (I) 119,100   4,729,461
Novavax, Inc. (I) 274,700   2,271,769
Ophthotech Corp. (I) 12,000   558,360
Orexigen Therapeutics, Inc. (I) 142,800   1,118,124
Otonomy, Inc. (I) 1,700   60,112
Pharmacyclics, Inc. (I) 58,300   14,921,885
Portola Pharmaceuticals, Inc. (I) 5,300   201,188
Prothena Corp. PLC (I) 44,348   1,691,433
Puma Biotechnology, Inc. (I) 35,987   8,496,891
Receptos, Inc. (I) 7,200   1,187,208
Regeneron Pharmaceuticals, Inc. (I) 13,700   6,185,276
Retrophin, Inc. (I) 10,800   258,768
Spark Therapeutics, Inc. (I) 5,700   441,750
Spark Therapeutics, Inc. (I) 9,103   669,298
Sunesis Pharmaceuticals, Inc. (I) 62,300   152,635
Synageva BioPharma Corp. (I) 12,400   1,209,372
TESARO, Inc. (I) 39,885   2,289,399
Ultragenyx Pharmaceutical, Inc. (I) 11,412   708,571
United Therapeutics Corp. (I) 14,100   2,431,334
Vanda Pharmaceuticals, Inc. (I) 5,100   47,430
Versartis, Inc. (I) 12,600   231,462
Vertex Pharmaceuticals, Inc. (I) 56,004   6,606,792
Vital Therapies, Inc. (I) 9,500   237,595
Xencor, Inc. (I) 10,700   163,924
  138,200,296
Health care equipment and supplies - 9.8%    
Align Technology, Inc. (I) 13,300   715,341
Becton, Dickinson and Company 62,600   8,988,734
DENTSPLY International, Inc. 18,950   964,366
DexCom, Inc. (I) 13,300   829,122
Entellus Medical, Inc. (I) 1,900   41,610
EnteroMedics, Inc. (I) 50,650   46,345
GenMark Diagnostics, Inc. (I) 27,200   353,056
GN Store Nord A/S 62,631   1,398,362
IDEXX Laboratories, Inc. (I) 12,500   1,931,000
Intuitive Surgical, Inc. (I) 10,000   5,050,300
Medtronic PLC 74,793   5,833,106
Oxford Immunotec Global PLC (I) 9,200   129,536
Sirona Dental Systems, Inc. (I) 42,600   3,833,574
Teleflex, Inc. 6,200   749,146
The Cooper Companies, Inc. 16,335   3,061,506
Thoratec Corp. (I) 46,500   1,947,885
Tornier NV (I) 41,200   1,080,264
West Pharmaceutical Services, Inc. 17,400   1,047,654
Wright Medical Group, Inc. (I) 15,500 399,900
  38,400,807
Health care providers and services - 21.8%    
Acadia Healthcare Company, Inc. (I) 11,400   816,240
Adeptus Health, Inc., Class A (I) 2,700   135,594
Aetna, Inc. 115,300   12,282,909
Anthem, Inc. 36,200   5,589,642
Centene Corp. (I) 11,800   834,142
Cigna Corp. 27,800   3,598,432
Community Health Systems, Inc. (I) 13,900   726,692
DaVita HealthCare Partners, Inc. (I) 82,500   6,705,600
Envision Healthcare Holdings, Inc. (I) 23,800   912,730
Fresenius SE & Company KGaA 20,458   1,219,634
HCA Holdings, Inc. (I) 88,500   6,657,855
Henry Schein, Inc. (I) 17,000   2,373,540
Humana, Inc. 52,500   9,346,050
McKesson Corp. 56,100   12,689,820
Mediclinic International, Ltd. 49,335   495,310
MEDNAX, Inc. (I) 20,800   1,508,208
Odontoprev SA 81,900   278,941
Team Health Holdings, Inc. (I) 17,600   1,029,776
UnitedHealth Group, Inc. 97,200   11,497,788
Universal American Corp. (I) 14,300   152,724
Universal Health Services, Inc., Class B 33,350   3,925,629
WellCare Health Plans, Inc. (I) 28,300   2,588,318
  85,365,574
Health care technology - 0.6%    
athenahealth, Inc. (I) 13,000   1,552,070
Castlight Health, Inc., B Shares (I) 20,437   158,591
Inovalon Holdings, Inc., Class A (I) 6,300   190,323
Veeva Systems, Inc., Class A (I) 16,600   423,798
  2,324,782
Life sciences tools and services - 2.2%    
Agilent Technologies, Inc. 121,700   5,056,635
Bruker Corp. (I) 40,000   738,800
Illumina, Inc. (I) 3,450   640,458
Mettler-Toledo International, Inc. (I) 3,300   1,084,545
Thermo Fisher Scientific, Inc. 8,900   1,195,626
  8,716,064
Pharmaceuticals - 19.5%    
AbbVie, Inc. 83,400   4,882,236
Achaogen, Inc. (I) 7,800   76,128
Actavis PLC (I) 70,840   21,083,401
Aspen Pharmacare Holdings, Ltd. (I) 57,616   1,820,462
Astellas Pharma, Inc. 103,600   1,697,474
Bristol-Myers Squibb Company 26,700   1,722,150
Catalent, Inc. (I) 64,000   1,993,600
China Medical System Holdings, Ltd. 560,200   862,802
Eli Lilly & Company 87,100   6,327,815
Flamel Technologies SA, ADR (I) 25,300   454,894
Horizon Pharma, Inc. (I) 17,000   441,490
Jazz Pharmaceuticals PLC (I) 6,200   1,071,298
Mallinckrodt PLC (I) 9,096   1,152,008
Merck & Company, Inc. 25,700   1,477,236
Natco Pharma, Ltd. 3,573   119,888
Novartis AG 7,304   720,908
Novartis AG, ADR 7,300   719,853
Pacira Pharmaceuticals, Inc. (I) 29,500   2,621,075
Relypsa, Inc. (I) 19,700   710,579
Shire PLC, ADR 7,600   1,818,604
Supernus Pharmaceuticals, Inc. (I) 14,800   178,932

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Health Sciences Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Pharmaceuticals (continued)
Takeda Pharmaceutical Company, Ltd. 25,900 $ 1,292,873
Teva Pharmaceutical Industries, Ltd., ADR 90,300 5,625,690
The Medicines Company (I) 35,955 1,007,459
TherapeuticsMD, Inc. (I) 83,300 503,965
Valeant Pharmaceuticals International, Inc. (I) 70,380 13,978,876
Zeneca, Inc. (I) 13,151 8,088
Zoetis, Inc. 21,900 1,013,751
ZS Pharma, Inc. (I) 18,600 782,688
76,166,223
349,173,746
Industrials - 2.4%
Industrial conglomerates - 1.9%
Danaher Corp. 87,000 7,386,300
Professional services - 0.5%
The Advisory Board Company (I) 32,500 1,731,600
TriNet Group, Inc. (I) 9,000 317,070
2,048,670
9,434,970
Information technology - 1.1%
Electronic equipment, instruments and components - 1.1%
FEI Company 26,200 2,000,108
Keysight Technologies, Inc. (I) 60,600 2,251,290
4,251,398
4,251,398
TOTAL COMMON STOCKS (Cost $228,966,577) $ 371,366,867
 
PREFERRED SECURITIES - 0.4%
Health care - 0.4%
Actavis PLC, 5.500% (I) 1,265 1,280,180
aTyr Pharma, Inc. (I) 79,627 89,103
Seres Health, Inc. (I)(R) 9,734 140,170
1,509,453
Information technology - 0.0%
Doximity, Inc. (I)(R) 31,611 152,390
TOTAL PREFERRED SECURITIES (Cost $1,624,890) $ 1,661,843
 
RIGHTS - 0.0%
Wright Medical Group, Inc. (Expiration
       Date: 01/02/2024) (I)(N) 3,500 15,050
TOTAL RIGHTS (Cost $8,750) $ 15,050
 
WARRANTS - 0.0%
EnteroMedics, Inc. (Expiration Date:
       06/13/2016; Strike Price $2.19) (I) 30,600 569
Alexza Pharmaceuticals, Inc. (Expiration Date:
       10/05/2016; Strike Price $2.77) (I) 1,413 0
EnteroMedics, Inc. (Expiration Date:
       09/28/2016; Strike Price $1.90) (I) 4,120 189
TOTAL WARRANTS (Cost $1,766) $ 758
 
SHORT-TERM INVESTMENTS - 4.3%
Money market funds - 4.3%
State Street Institutional U.S. Government
       Money Market Fund, 0.0000% (Y) 657,569 657,569
T. Rowe Price Reserve Investment
       Fund, 0.0384% (Y) 16,106,427 16,106,427
TOTAL SHORT-TERM INVESTMENTS (Cost $16,763,996) $ 16,763,996
Total Investments (Health Sciences Trust)
       (Cost $247,365,979) - 99.7% $ 389,808,514
Other assets and liabilities, net - 0.3% 1,164,433
TOTAL NET ASSETS - 100.0% $ 390,972,947

High Yield Trust

Shares or       
Principal
Amount Value
FOREIGN GOVERNMENT    
OBLIGATIONS - 0.3%    
Brazil - 0.2%    
Federative Republic of Brazil    
       10.000%, 01/01/2017 BRL 1,759,000 $ 537,167
Mexico - 0.1%    
Government of Mexico    
       6.500%, 06/09/2022 MXN 5,956,000   408,157
TOTAL FOREIGN GOVERNMENT    
OBLIGATIONS (Cost $1,309,112) $ 945,324
   
CORPORATE BONDS - 88.0%    
Consumer discretionary - 19.7%    
24 Hour Holdings III LLC    
       8.000%, 06/01/2022 (L)(S) $ 460,000   393,300
Altice Financing SA    
       6.625%, 02/15/2023 (S) 1,730,000   1,781,900
Altice Finco SA    
       7.625%, 02/15/2025 (S) 410,000   420,250
Argos Merger Sub, Inc.    
       7.125%, 03/15/2023 (S) 1,690,000   1,751,263
Bossier Casino Venture Holdco, Inc.    
       11.000%, 02/09/2018 173,042   161,564
Bossier Casino Venture Holdco, Inc., PIK    
       14.000%, 02/09/2018 (S) 846,473   783,428
Caesars Entertainment Resort    
       Properties LLC    
       11.000%, 10/01/2021 1,490,000   1,303,735
Carmike Cinemas, Inc.    
       7.375%, 05/15/2019 250,000   265,000
Carrols Restaurant Group, Inc.    
       11.250%, 05/15/2018 780,000   828,750
CCOH Safari LLC    
       5.500%, 12/01/2022 630,000   644,175
       5.750%, 12/01/2024 1,030,000   1,060,900
CEC Entertainment, Inc.    
       8.000%, 02/15/2022 440,000   440,000
Clear Channel Worldwide Holdings, Inc.    
       6.500%, 11/15/2022 230,000   238,625
       7.625%, 03/15/2020 190,000   196,650
CST Brands, Inc.    
       5.000%, 05/01/2023 512,000   522,240
CTP Transportation Products LLC    
       8.250%, 12/15/2019 (S) 540,000   556,200
CVR Refining LLC    
       6.500%, 11/01/2022 420,000   420,000

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

High Yield Trust (continued)

Shares or
Principal
Amount        Value
CORPORATE BONDS (continued)    
Consumer discretionary (continued)    
DISH DBS Corp.    
       5.875%, 07/15/2022 to 11/15/2024 $ 2,320,000 $ 2,346,151
       6.750%, 06/01/2021 230,000   244,950
       7.875%, 09/01/2019 750,000   838,125
Downstream Development Authority of    
       the Quapaw Tribe of Oklahoma    
       10.500%, 07/01/2019 (S) 640,000   564,800
Dufry Finance SCA    
       5.500%, 10/15/2020 (S) 400,000   417,229
Empire Today LLC    
       11.375%, 02/01/2017 (S) 370,000   298,775
Family Tree Escrow LLC    
       5.750%, 03/01/2023 (S) 1,000,000   1,050,000
Fontainebleau Las Vegas Holdings LLC    
       11.000%, 06/15/2015 (H)(S) 3,620,000   13,575
GameStop Corp.    
       5.500%, 10/01/2019 (S) 630,000   647,325
Gibson Brands, Inc.    
       8.875%, 08/01/2018 (S) 850,000   851,063
Greektown Holdings LLC    
       8.875%, 03/15/2019 (S) 780,000   822,900
Group 1 Automotive, Inc.    
       5.000%, 06/01/2022 (S) 800,000   802,000
Guitar Center, Inc.    
       9.625%, 04/15/2020 (L)(S) 2,060,000   1,503,800
Hilton Worldwide Finance LLC    
       5.625%, 10/15/2021 835,000   878,838
iHeartCommunications, Inc.    
       10.000%, 01/15/2018 (L) 830,000   705,500
Interactive Data Corp.    
       5.875%, 04/15/2019 (S) 510,000   515,100
Landry’s Holdings II, Inc.    
       10.250%, 01/01/2018 (S) 910,000   944,125
Landry’s, Inc.    
       9.375%, 05/01/2020 (S) 1,216,000   1,301,120
LKQ Corp.    
       4.750%, 05/15/2023 400,000   392,000
MCE Finance, Ltd.    
       5.000%, 02/15/2021 (S) 1,760,000   1,645,600
MDC Partners, Inc.    
       6.750%, 04/01/2020 (S) 900,000   948,375
Medianews Group, Inc.    
       12.000%, 12/31/2018 600,000   562,371
MGM Resorts International    
       6.625%, 12/15/2021 450,000   480,656
Modular Space Corp.    
       10.250%, 01/31/2019 (S) 860,000   683,700
Monitronics International, Inc.    
       9.125%, 04/01/2020 1,090,000   1,066,838
Murphy Oil USA, Inc.    
       6.000%, 08/15/2023 710,000   761,475
Nathan’s Famous, Inc.    
       10.000%, 03/15/2020 (S) 230,000   241,500
NCL Corp., Ltd.    
       5.000%, 02/15/2018 510,000   520,200
       5.250%, 11/15/2019 (S) 1,310,000   1,342,750
Neiman Marcus Group, Ltd., LLC, PIK    
       8.750%, 10/15/2021 (S) 370,000   392,200
Netflix, Inc.    
       5.500%, 02/15/2022 (S) 330,000   337,425
       5.875%, 02/15/2025 (S) 1,080,000   1,108,350
New Cotai LLC, PIK    
       10.625%, 05/01/2019 (S) 2,001,137   1,990,631
New Red Finance, Inc.    
       6.000%, 04/01/2022 (S) 1,020,000 1,056,975
Numericable Group SA    
       6.000%, 05/15/2022 (S) 1,630,000   1,654,450
Schaeffler Holding Finance BV, PIK    
       6.750%, 11/15/2022 (S) 960,000   1,036,800
       6.875%, 08/15/2018 (S) 200,000   208,750
       6.875%, 08/15/2018 (S) EUR 1,200,000   1,348,761
Service Corp. International    
       7.500%, 04/01/2027 $ 480,000   561,600
Shea Homes LP    
       5.875%, 04/01/2023 (S) 460,000   468,050
       6.125%, 04/01/2025 (S) 980,000   987,350
Speedway Motorsports, Inc.    
       5.125%, 02/01/2023 (S) 610,000   619,150
Spencer Spirit Holdings, Inc., PIK    
       9.000%, 05/01/2018 (S) 1,564,000   1,585,505
Standard Pacific Corp.    
       5.875%, 11/15/2024 310,000   318,525
       6.250%, 12/15/2021 440,000   466,400
StoneMor Partners LP    
       7.875%, 06/01/2021 530,000   556,500
Taylor Morrison Communities, Inc.    
       7.750%, 04/15/2020 (S) 1,104,000   1,170,240
The William Carter Company    
       5.250%, 08/15/2021 550,000   569,250
Toll Brothers Finance Corp.    
       6.750%, 11/01/2019 320,000   361,600
Virgin Media Finance PLC    
       6.000%, 10/15/2024 (S) 1,680,000   1,764,000
       6.375%, 04/15/2023 (S) 200,000   213,000
William Lyon Homes, Inc.    
       1.000%, 08/15/2022 710,000   732,188
       5.750%, 04/15/2019 580,000   585,800
       8.500%, 11/15/2020 760,000   822,700
WMG Acquisition Corp.    
       6.750%, 04/15/2022 (S) 1,000,000   947,500
Woodside Homes Company LLC    
       6.750%, 12/15/2021 (S) 1,230,000   1,177,725
Ziggo Bond Finance BV    
       5.875%, 01/15/2025 (S) 290,000   303,775
          58,504,021
Consumer staples - 5.6%    
Alliance One International, Inc.    
       9.875%, 07/15/2021 670,000   586,250
Beverages & More, Inc.    
       10.000%, 11/15/2018 (S) 1,210,000   1,149,500
Carolina Beverage Group LLC    
       10.625%, 08/01/2018 (S) 630,000   617,400
Century Intermediate Holding Company 2,    
       PIK    
       9.750%, 02/15/2019 (S) 1,070,000   1,136,875
Constellation Brands, Inc.    
       4.250%, 05/01/2023 570,000   586,388
       4.750%, 11/15/2024 940,000   994,050
Dole Food Company, Inc.    
       7.250%, 05/01/2019 (S) 880,000   893,200
DS Services of America, Inc.    
       10.000%, 09/01/2021 (S) 1,120,000   1,316,000
Hearthside Group Holdings LLC    
       6.500%, 05/01/2022 (S) 520,000   516,100
HJ Heinz Company    
       4.250%, 10/15/2020 110,000   112,860

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

High Yield Trust (continued)

Shares or
Principal
Amount        Value
CORPORATE BONDS (continued)    
Consumer staples (continued)    
HJ Heinz Company (continued)    
       4.875%, 02/15/2025 (S) $ 680,000 $ 736,950
HJ Heinz Finance Company    
       7.125%, 08/01/2039 (S) 380,000   507,300
Lantheus Medical Imaging, Inc.    
       9.750%, 05/15/2017 1,620,000   1,587,600
Pactiv LLC    
       7.950%, 12/15/2025 530,000   540,600
       8.375%, 04/15/2027 1,430,000   1,465,750
Pilgrim’s Pride Corp.    
       5.750%, 03/15/2025 (S) 980,000   1,002,050
Reynolds Group Issuer, Inc.    
       5.750%, 10/15/2020 570,000   589,238
Simmons Foods, Inc.    
       7.875%, 10/01/2021 (S) 900,000   888,750
Spectrum Brands, Inc.    
       6.125%, 12/15/2024 (S) 490,000   523,075
The WhiteWave Foods Company    
       5.375%, 10/01/2022 555,000   596,625
Wells Enterprises, Inc.    
       6.750%, 02/01/2020 (S) 269,000   273,708
  16,620,269
Energy - 14.2%    
Antero Resources Corp.    
       5.125%, 12/01/2022 1,040,000   998,400
Approach Resources, Inc.    
       7.000%, 06/15/2021 240,000   214,800
Arch Coal, Inc.    
       9.875%, 06/15/2019 1,800,000   531,000
Atwood Oceanics, Inc.    
       6.500%, 02/01/2020 770,000   739,200
Berry Petroleum Company LLC    
       6.750%, 11/01/2020 1,700,000   1,381,250
California Resources Corp.    
       6.000%, 11/15/2024 (L)(S) 1,020,000   893,775
Calumet Specialty Products Partners LP    
       6.500%, 04/15/2021 (S) 460,000   446,200
       7.625%, 01/15/2022 100,000   101,000
       9.625%, 08/01/2020 630,000   711,900
Carrizo Oil & Gas, Inc.    
       7.500%, 09/15/2020 440,000   452,100
CGG SA    
       6.500%, 06/01/2021 1,350,000   1,076,625
       6.875%, 01/15/2022 200,000   159,000
Chesapeake Energy Corp.    
       4.875%, 04/15/2022 290,000   271,875
       6.125%, 02/15/2021 490,000   496,125
       6.875%, 11/15/2020 80,000   83,600
Cloud Peak Energy Resources LLC    
       6.375%, 03/15/2024 610,000   527,650
Comstock Resources, Inc.    
       7.750%, 04/01/2019 100,000   42,000
       9.500%, 06/15/2020 730,000   317,550
Crestwood Midstream Partners LP    
       6.000%, 12/15/2020 580,000   582,900
       6.125%, 03/01/2022 800,000   806,000
CrownRock LP    
       7.750%, 02/15/2023 (S) 640,000   648,000
EXCO Resources, Inc.    
       7.500%, 09/15/2018 710,000   422,450
Foresight Energy LLC    
       7.875%, 08/15/2021 (S) 620,000   618,450
FTS International, Inc.    
       6.250%, 05/01/2022 (S) 1,080,000 793,800
Gulfport Energy Corp.    
       7.750%, 11/01/2020 250,000   256,250
Halcon Resources Corp.    
       8.875%, 05/15/2021 2,010,000   1,401,975
       9.750%, 07/15/2020 380,000   267,900
Hercules Offshore, Inc.    
       6.750%, 04/01/2022 (S) 760,000   205,200
       7.500%, 10/01/2021 (S) 2,090,000   585,200
       8.750%, 07/15/2021 (S) 30,000   8,550
Hiland Partners LP    
       5.500%, 05/15/2022 (S) 190,000   194,750
       7.250%, 10/01/2020 (S) 600,000   646,500
KCA Deutag UK Finance PLC    
       7.250%, 05/15/2021 (S) 680,000   537,200
Key Energy Services, Inc.    
       6.750%, 03/01/2021 1,470,000   948,150
Kinder Morgan, Inc.    
       6.500%, 09/15/2020 250,000   289,415
       7.750%, 01/15/2032 660,000   812,350
Magnum Hunter Resources Corp.    
       9.750%, 05/15/2020 1,410,000   1,254,900
MarkWest Energy Partners LP    
       4.875%, 12/01/2024 1,400,000   1,431,360
       6.250%, 06/15/2022 19,000   19,855
MEG Energy Corp.    
       6.375%, 01/30/2023 (S) 1,118,000   1,030,796
       7.000%, 03/31/2024 (S) 310,000   292,175
Milagro Oil & Gas, Inc.    
       10.500%, 05/15/2016 (H) 1,370,000   794,600
Murray Energy Corp.    
       9.500%, 12/05/2020 (S) 880,000   985,600
Natural Resource Partners LP    
       9.125%, 10/01/2018 450,000   427,500
New Gulf Resources LLC    
       11.750%, 05/15/2019 900,000   675,000
Oasis Petroleum, Inc.    
       6.875%, 03/15/2022 to 01/15/2023 670,000   651,500
Pacific Drilling SA    
       5.375%, 06/01/2020 (S) 870,000   696,000
Parker Drilling Company    
       6.750%, 07/15/2022 730,000   578,525
Parsley Energy LLC    
       7.500%, 02/15/2022 (S) 950,000   959,500
Penn Virginia Resource Partners LP    
       6.500%, 05/15/2021 550,000   578,875
QEP Resources, Inc.    
       5.250%, 05/01/2023 970,000   950,406
       5.375%, 10/01/2022 480,000   471,600
       6.875%, 03/01/2021 140,000   148,750
Quicksilver Resources, Inc.    
       11.000%, 07/01/2021 (H) 150,000   25,500
Range Resources Corp.    
       5.750%, 06/01/2021 620,000   647,708
Regency Energy Partners LP    
       5.000%, 10/01/2022 630,000   655,200
Rice Energy, Inc.    
       6.250%, 05/01/2022 1,210,000   1,179,750
       7.250%, 05/01/2023 (S) 80,000   80,000
Rockies Express Pipeline LLC    
       5.625%, 04/15/2020 (S) 900,000   940,590
       6.875%, 04/15/2040 (S) 620,000   675,800

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

High Yield Trust (continued)

Shares or
Principal
Amount        Value
CORPORATE BONDS (continued)    
Energy (continued)    
Samson Investment Company    
       9.750%, 02/15/2020 $ 1,880,000 $ 507,600
Sanchez Energy Corp.    
       7.750%, 06/15/2021 (L) 1,940,000   1,872,100
Shelf Drilling Holdings, Ltd.    
       8.625%, 11/01/2018 (L)(S) 470,000   384,225
Summit Midstream Holdings LLC    
       5.500%, 08/15/2022 1,060,000   1,004,350
       7.500%, 07/01/2021 500,000   520,000
Targa Resources Partners LP    
       4.125%, 11/15/2019 (S) 130,000   129,350
       6.375%, 08/01/2022 525,000   549,938
Teine Energy, Ltd.    
       6.875%, 09/30/2022 (S) 360,000   327,600
TerraForm Power Operating LLC    
       5.875%, 02/01/2023 (S) 590,000   612,125
Tesoro Logistics LP    
       5.500%, 10/15/2019 (S) 690,000   710,700
       6.250%, 10/15/2022 (S) 70,000   72,450
          42,311,018
Financials - 7.5%    
Ally Financial, Inc.    
       8.000%, 11/01/2031 330,000   412,500
Blue Racer Midstream LLC    
       6.125%, 11/15/2022 (S) 520,000   534,300
CBRE Services, Inc.    
       5.250%, 03/15/2025 1,480,000   1,591,000
CIT Group, Inc.    
       5.000%, 08/15/2022 to 08/01/2023 2,090,000   2,142,625
       5.375%, 05/15/2020 1,220,000   1,284,050
Citigroup, Inc. (6.300% to 05/15/2024,    
       then 3 month LIBOR + 3.423%)    
       05/15/2024 (Q) 1,060,000   1,082,525
Compiler Finance Sub, Inc.    
       7.000%, 05/01/2021 (S) 1,240,000   951,700
CTR Partnership LP    
       5.875%, 06/01/2021 1,350,000   1,377,000
Fidelity & Guaranty Life Holdings, Inc.    
       6.375%, 04/01/2021 (S) 470,000   493,500
First Cash Financial Services, Inc.    
       6.750%, 04/01/2021 160,000   164,800
Genworth Financial, Inc.    
       7.700%, 06/15/2020 570,000   605,625
Globe Luxembourg SCA    
       9.625%, 05/01/2018 (S) 620,000   558,000
GMAC International Finance BV    
       7.500%, 04/21/2015 EUR 530,000   571,552
Greystar Real Estate Partners LLC    
       8.250%, 12/01/2022 (S) $ 640,000   670,400
HSBC Holdings PLC (6.375% to    
       03/30/2025, then 5 year    
       ISDAFIX + 4.368%)    
       03/30/2025 (Q) 620,000   635,500
Liberty Mutual Group, Inc. (7.800% to    
       03/15/2037, then 3 month LIBOR    
       +3.576%)    
       03/15/2037 (S) 430,000   525,675
M&T Bank Corp.    
       6.875%, 06/05/2016 (Q) 790,000   813,700
Navient Corp.    
       5.875%, 03/25/2021 to 10/25/2024 1,230,000   1,170,025
       8.000%, 03/25/2020 1,110,000   1,234,753
Novo Banco SA    
       5.875%, 11/09/2015 EUR 200,000 216,233
The Geo Group, Inc.    
       5.875%, 10/15/2024 $ 750,000   780,000
The Howard Hughes Corp.    
       6.875%, 10/01/2021 (S) 1,100,000   1,152,250
The Royal Bank of Scotland Group PLC    
       (7.648% to 09/30/2031, then 3 month    
       LIBOR + 2.500%)    
       09/30/2031 (Q) 970,000   1,222,200
The Royal Bank of Scotland NV    
       7.750%, 05/15/2023 210,000   254,664
The Royal Bank of Scotland PLC    
       (13.125% to 03/19/2017, then 5 year    
       Australian Dollar Swap Rate + 8.750%)    
       13.125%, 03/19/2022 AUD 1,550,000   1,374,987
TMX Finance LLC    
       8.500%, 09/15/2018 (S) $ 610,000   433,100
          22,252,664
Health care - 5.8%    
Acadia Healthcare Company, Inc.    
       5.625%, 02/15/2023 (S) 670,000   681,725
       6.125%, 03/15/2021 165,000   171,188
       12.875%, 11/01/2018 390,000   436,800
DJO Finance LLC    
       9.750%, 10/15/2017 210,000   215,250
       9.875%, 04/15/2018 890,000   925,600
ExamWorks Group, Inc.    
       9.000%, 07/15/2019 1,000,000   1,057,500
Fresenius Medical    
       Care US Finance II, Inc.    
       4.750%, 10/15/2024 (S) 640,000   670,400
       5.875%, 01/31/2022 (S) 1,000,000   1,100,000
Fresenius Medical Care US Finance, Inc.    
       5.750%, 02/15/2021 (S) 110,000   120,450
Grifols Worldwide Operations, Ltd.    
       5.250%, 04/01/2022 (S) 200,000   203,250
HCA, Inc.    
       5.000%, 03/15/2024 350,000   371,438
       5.375%, 02/01/2025 1,050,000   1,099,219
       7.500%, 02/15/2022 590,000   688,088
Healthsouth Corp.    
       5.125%, 03/15/2023 910,000   925,925
IASIS Healthcare LLC    
       8.375%, 05/15/2019 1,260,000   1,310,400
JLL/Delta Dutch Newco BV    
       7.500%, 02/01/2022 (S) 1,310,000   1,362,400
Kindred Healthcare, Inc.    
       8.750%, 01/15/2023 (S) 460,000   503,700
Surgical Care Affiliates, Inc.    
       6.000%, 04/01/2023 (S) 490,000   493,675
Universal Hospital Services, Inc.    
       7.625%, 08/15/2020 1,140,000   997,500
Valeant Pharmaceuticals International, Inc.    
       5.500%, 03/01/2023 (S) 1,080,000   1,092,150
       6.125%, 04/15/2025 (S) 1,440,000   1,492,200
VRX Escrow Corp.    
       5.375%, 03/15/2020 (S) 1,330,000   1,343,300
  17,262,158

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

High Yield Trust (continued)

Shares or
Principal
Amount        Value
CORPORATE BONDS (continued)
Industrials - 14.6%  
Air Canada 2013-1 Class B Pass
        Through Trust
        5.375%, 05/15/2021 (S) $ 304,648 $ 318,357
Air Canada 2013-1 Class C Pass
        Through Trust
        6.625%, 05/15/2018 (S) 200,000 209,390
American Airlines 2013-1 Class B Pass
        Through Trust
        5.625%, 01/15/2021 (S) 237,548 248,238
American Airlines 2013-1 Class C Pass
        Through Trust
        6.125%, 07/15/2018 (S) 1,790,000 1,868,402
American Airlines 2013-2 Class B Pass
        Through Trust
        5.600%, 07/15/2020 (S) 801,360 837,421
American Builders & Contractors Supply
        Company, Inc.
        5.625%, 04/15/2021 (S) 1,180,000 1,194,750
Ashtead Capital, Inc.
        5.625%, 10/01/2024 (S) 410,000 426,913
        6.500%, 07/15/2022 (S) 720,000 766,800
Ashton Woods USA LLC
        6.875%, 02/15/2021 (S) 520,000 473,200
Ausdrill Finance Pty, Ltd.
        6.875%, 11/01/2019 (S) 980,000 739,900
CBC Ammo LLC
        7.250%, 11/15/2021 (S) 1,450,000 1,232,500
Continental Airlines 2001-1 Class B Pass
        Through Trust
        7.373%, 12/15/2015 31,911 32,846
Continental Airlines 2007-1 Class B Pass
        Through Trust
        6.903%, 04/19/2022 117,288 125,944
Delta Air Lines 2009-1 Series B Pass
        Through Trust
        9.750%, 12/17/2016 219,056 244,247
Delta Air Lines 2012-1 Class B Pass
        Through Trust
        6.875%, 05/07/2019 (S) 400,189 443,210
DH Services Luxembourg Sarl
        7.750%, 12/15/2020 (S) 1,000,000 1,045,000
Ducommun, Inc.
        9.750%, 07/15/2018 1,170,000 1,237,275
Empresas ICA SAB de CV
        8.875%, 05/29/2024 (S) 1,340,000 1,067,980
Erickson, Inc.
        8.250%, 05/01/2020 (L) 685,000 552,795
Flexi-Van Leasing, Inc.
        7.875%, 08/15/2018 (S) 810,000 822,150
Florida East Coast Holdings Corp.
        6.750%, 05/01/2019 (S) 580,000 584,350
Garda World Security Corp.
        7.250%, 11/15/2021 (S) 480,000 471,600
Griffon Corp.
        5.250%, 03/01/2022 1,520,000 1,499,632
H&E Equipment Services, Inc.
        7.000%, 09/01/2022 930,000 957,900
Hapag-Lloyd AG
        9.750%, 10/15/2017 (L)(S) 760,000 790,400
Horizon Lines LLC
        11.000%, 10/15/2016 453,000 454,133
IHS, Inc.
        5.000%, 11/01/2022 (S) 370,000 371,628
International Lease Finance Corp.    
        8.250%, 12/15/2020 1,030,000 1,254,025
International Wire Group Holdings, Inc.    
        8.500%, 10/15/2017 (S) 530,000   548,550
Jack Cooper Holdings Corp.    
        9.250%, 06/01/2020 (S) 1,500,000   1,548,750
JM Huber Corp.    
        9.875%, 11/01/2019 (S) 410,000   443,313
Jurassic Holdings III, Inc.    
        6.875%, 02/15/2021 (S) 650,000   565,500
KP Germany Erste GmbH    
        11.625%, 07/15/2017 EUR 180,000   209,029
        11.625%, 07/15/2017 (S) 220,000   255,479
LMI Aerospace, Inc.    
        7.375%, 07/15/2019 (S) $ 520,000   523,900
Magnesita Refractories Company    
        7.875%, 03/30/2020 (S) 702,000   617,760
Michael Baker Holdings LLC, PIK    
        8.875%, 04/15/2019 (S) 1,420,000   1,320,600
Michael Baker International LLC    
        8.250%, 10/15/2018 (S) 660,000   648,450
Navios Maritime Acquisition Corp.    
        8.125%, 11/15/2021 (S) 1,190,000   1,195,950
Neovia Logistics Intermediate    
        Holdings LLC, PIK    
        10.000%, 02/15/2018 (S) 1,790,000   1,798,950
NES Rentals Holdings, Inc.    
        7.875%, 05/01/2018 (S) 740,000   747,400
Orbital ATK, Inc.    
        5.250%, 10/01/2021 (S) 900,000   913,500
SPL Logistics Escrow LLC    
        8.875%, 08/01/2020 (S) 80,000   84,200
syncreon Group BV    
        8.625%, 11/01/2021 (S) 1,240,000   1,060,200
Triumph Group, Inc.    
        5.250%, 06/01/2022 400,000   393,000
Ultrapetrol Bahamas, Ltd.    
        8.875%, 06/15/2021 930,000   881,175
United Airlines 2013-1 Class B Pass    
        Through Trust    
        5.375%, 08/15/2021 745,466   780,876
United Airlines 2014-1 Class B Pass    
        Through Trust    
        4.750%, 04/11/2022 1,340,000   1,360,100
United Rentals North America, Inc.    
        5.500%, 07/15/2025 290,000   295,800
        5.750%, 11/15/2024 1,550,000   1,600,375
        7.375%, 05/15/2020 270,000   291,769
        7.625%, 04/15/2022 500,000   547,000
US Airways 2012-2 Class B Pass    
        Through Trust    
        6.750%, 06/03/2021 765,840   827,108
USG Corp.    
        5.500%, 03/01/2025 (S) 360,000   367,200
WESCO Distribution, Inc.    
        5.375%, 12/15/2021 810,000   824,175
West Corp.    
        5.375%, 07/15/2022 (S) 1,270,000   1,245,394
XPO Logistics, Inc.    
        7.875%, 09/01/2019 (S) 1,090,000   1,152,675
  43,319,164

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

High Yield Trust (continued)

Shares or
Principal
Amount        Value
CORPORATE BONDS (continued)
Information technology - 3.0%
ACI Worldwide, Inc.
       6.375%, 08/15/2020 (S) $ 780,000 $ 815,100
Activision Blizzard, Inc.
       5.625%, 09/15/2021 (S) 540,000 575,100
       6.125%, 09/15/2023 (S) 640,000 697,600
Ancestry.com Holdings LLC, PIK
       9.625%, 10/15/2018 (S) 730,000 735,475
Ancestry.com, Inc.
       11.000%, 12/15/2020 430,000 477,300
Equinix, Inc.
       5.375%, 01/01/2022 580,000 604,650
       5.750%, 01/01/2025 590,000 615,075
First Data Corp.
       11.750%, 08/15/2021 630,000 728,438
       12.625%, 01/15/2021 1,930,000 2,287,050
First Data Corp., PIK
       8.750%, 01/15/2022 (S) 80,000 86,100
Interface Security Systems Holdings, Inc.  
       9.250%, 01/15/2018 1,000,000 1,005,000
Kemet Corp.
       10.500%, 05/01/2018 170,000 173,825
        8,800,713
Materials - 7.5%
AngloGold Ashanti Holdings PLC
       8.500%, 07/30/2020 406,000 436,349
Appvion, Inc. 9.000%, 06/01/2020 (S) 1,780,000 1,170,350
Ardagh Finance Holdings SA, PIK
       8.625%, 06/15/2019 (S) 822,882 857,344
Ardagh Packaging Finance PLC
       3.270%, 12/15/2019 (P)(S) 1,010,000 986,013
       6.750%, 01/31/2021 (S) 460,000 464,025
       7.000%, 11/15/2020 (S) 91,765 91,879
       9.125%, 10/15/2020 (S) 1,020,000 1,086,300
Barminco Finance Pty, Ltd.
       9.000%, 06/01/2018 (S) 940,000 910,625
BWAY Holding Company
       9.125%, 08/15/2021 (S) 620,000 644,800
Celanese US Holdings LLC
       4.625%, 11/15/2022 410,000 413,075
Cemex SAB de CV
       5.700%, 01/11/2025 (S) 220,000 217,030
       6.125%, 05/05/2025 (S) 270,000 272,619
Coeur Mining, Inc. 7.875%, 02/01/2021 930,000 792,825
Coveris Holdings SA
       7.875%, 11/01/2019 (S) 1,140,000 1,165,650
Eagle Spinco, Inc. 4.625%, 02/15/2021 645,000 637,744
Eco Services Operations LLC
       8.500%, 11/01/2022 (S) 410,000 414,100
Evraz Group SA
       6.750%, 04/27/2018 (S) 700,000 652,400
       9.500%, 04/24/2018 100,000 101,662
FMG Resources August 2006 Pty, Ltd.
       6.875%, 04/01/2022 (L)(S) 1,260,000 930,825
       8.250%, 11/01/2019 (L)(S) 300,000 253,500
Global Brass & Copper, Inc.
       9.500%, 06/01/2019 570,000 612,750
Hardwoods Acquisition, Inc.
       7.500%, 08/01/2021 (S) 800,000 764,000
Hexion US Finance Corp.
       6.625%, 04/15/2020 250,000 228,750
       8.875%, 02/01/2018 970,000 856,025
HIG BBC Intermediate Holdings LLC,
       PIK 10.500%, 09/15/2018 (S) 470,000 433,575
James Hardie International Finance, Ltd.    
       5.875%, 02/15/2023 (S) 420,000 432,600
Kerling PLC 10.625%, 02/01/2017 (S) EUR 553,000   605,019
Midwest Vanadium Pty, Ltd.    
       11.500%, 02/15/2018 (H)(S) $ 980,000   49,000
NWH Escrow Corp.    
       7.500%, 08/01/2021 (S) 220,000   206,800
Prince Mineral Holding Corp.    
       11.500%, 12/15/2019 (S) 460,000   445,050
Resolute Forest Products, Inc.    
       5.875%, 05/15/2023 500,000   480,500
Ryerson, Inc. 9.000%, 10/15/2017 710,000   717,100
St. Barbara, Ltd. 8.875%, 04/15/2018 (S) 510,000   432,225
Thompson Creek Metals Company, Inc.    
       9.750%, 12/01/2017 390,000   401,700
       12.500%, 05/01/2019 690,000   593,400
Vedanta Resources PLC    
       6.000%, 01/31/2019 (L)(S) 1,660,000   1,479,043
Verso Paper Holdings LLC    
       11.750%, 01/15/2019 1,080,000   1,006,319
          22,242,971
Telecommunication services - 6.9%    
Axtel SAB de CV (8.000% until    
       01/31/2015, then 9.000% thereafter)    
       01/31/2020 (S) 629,000   558,992
CenturyLink, Inc.    
       5.625%, 04/01/2025 (S) 660,000   662,475
       5.800%, 03/15/2022 1,210,000   1,259,913
       6.750%, 12/01/2023 230,000   253,288
Cogent Communications Group, Inc.    
       5.375%, 03/01/2022 (S) 1,540,000   1,536,150
Intelsat Jackson Holdings SA    
       5.500%, 08/01/2023 1,590,000   1,502,550
       7.250%, 10/15/2020 60,000   61,800
       7.500%, 04/01/2021 790,000   811,725
Level 3 Financing, Inc.    
       5.625%, 02/01/2023 (S) 850,000   873,375
       7.000%, 06/01/2020 320,000   341,600
       8.625%, 07/15/2020 570,000   617,738
Sprint Capital Corp.    
       6.875%, 11/15/2028 430,000   394,525
       8.750%, 03/15/2032 6,090,000   6,303,150
Sprint Corp.    
       7.625%, 02/15/2025 1,680,000   1,673,700
UPCB Finance VI, Ltd.    
       6.875%, 01/15/2022 (S) 810,000   864,675
Vimpel Communications OJSC    
       8.250%, 05/23/2016 947,000   989,056
VimpelCom Holdings BV    
       7.504%, 03/01/2022 (S) 460,000   436,425
Windstream Corp.    
       7.500%, 04/01/2023 1,370,000   1,308,350
          20,449,487
Utilities - 3.2%    
AES Corp.    
       4.875%, 05/15/2023 470,000   454,138
       5.500%, 03/15/2024 325,000   325,000
       7.375%, 07/01/2021 550,000   616,000
Calpine Corp.    
       6.000%, 01/15/2022 (S) 1,320,000   1,412,400
Midwest Generation LLC, Series B    
       8.560%, 01/02/2016 164,681   165,916

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

High Yield Trust (continued)

Shares or
Principal
Amount        Value
CORPORATE BONDS (continued)    
Utilities (continued)    
Miran Mid-Atlantic Series C Pass    
      Through Trust    
      10.060%, 12/30/2028 $ 1,558,871 $ 1,706,964
NRG REMA LLC    
      9.237%, 07/02/2017 1,198,928   1,264,869
      9.681%, 07/02/2026 1,470,000   1,587,600
Red Oak Power LLC    
      9.200%, 11/30/2029 1,030,000   1,138,150
Suburban Propane Partners LP    
      5.500%, 06/01/2024 760,000   779,000
         9,450,037
TOTAL CORPORATE BONDS (Cost $278,135,441) $ 261,212,502
          
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 $838,710) $ 942,500
          
CONVERTIBLE BONDS - 0.3%    
Materials - 0.3%    
Hercules, Inc.    
      6.500%, 06/30/2029 250,000   227,969
Mirabela Nickel, Ltd., PIK    
      9.500%, 06/24/2019 (S) 675,638   479,703
         707,672
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   79,910
TOTAL CONVERTIBLE BONDS (Cost $1,017,737) $ 787,582
   
TERM LOANS (M) - 3.7%    
Consumer discretionary - 0.4%    
Equinox Holdings, Inc.    
      9.750%, 07/31/2020 $ 630,000   636,300
The Gymboree Corp.    
      5.000%, 02/23/2018 310,000   235,600
Toms Shoes LLC    
      6.500%, 10/28/2020 470,000   433,967
         1,305,867
Consumer staples - 0.1%    
AdvancePierre Foods, Inc.    
      9.500%, 10/10/2017 270,000   270,338
Energy - 0.8%    
Panda Temple Power TBD 03/04/2022 (T) 730,000   719,050
TPF II Power LLC    
      5.500%, 10/02/2021 1,067,325   1,080,221
Westmoreland Coal Company    
      7.500%, 12/16/2020 608,475   606,954
         2,406,225
Health care - 0.7%    
Immucor, Inc.    
      5.000%, 08/19/2018 299,249   300,184
Physiotherapy Associates Holdings, Inc.    
      11.000%, 01/02/2017 830,000   822,738
Radnet Management, Inc.
      8.000%, 03/25/2021 1,000,000 990,000
       2,112,922
Industrials - 0.9%
Commercial Barge Line Company
      10.750%, 03/22/2020 1,860,000 1,860,000
Intelligrated, Inc.
      4.500%, 07/30/2018 861,188 854,038
       2,714,038
Information technology - 0.2%  
Kronos, Inc.
      9.750%, 04/30/2020 509,600 521,703
Materials - 0.2%
Essar Steel Algoma, Inc.
      7.500%, 08/09/2019 318,400 304,603
FMG Resources August 2006 Pty, Ltd.
      TBD 06/30/2019 (T) 274,304 247,755
       552,358
Telecommunication services - 0.4%
CWGS Group LLC
      5.750%, 02/20/2020 1,164,625 1,171,904
TOTAL TERM LOANS (Cost $11,019,743) $ 11,055,355
 
ASSET BACKED SECURITIES - 0.3%
Dryden XXVI Senior Loan Fund,
      Series 2013-26A, Class E
      4.753%, 07/15/2025 (S) 250,000 221,188
Treman Park CLO LLC, Series 2015-1A,
      Class E 4.121%, 04/20/2027 (S) 750,000 729,319
TOTAL ASSET BACKED SECURITIES (Cost $955,359) $ 950,507
      
COMMON STOCKS - 2.3%
Consumer discretionary - 0.4%
Bossier Casino Venture Holdco, Inc. (I)(S) 43,365 $ 0
Ford Motor Company 49,494 798,833
General Motors Company 5,985 224,438
New Cotai LLC (I) 3 82,686
PB Investors II LLC (I) 127,402 0
Tropicana Entertainment LLC (I) 7,500 7,500
Vertis Holdings, Inc. (I) 69,391 0
1,113,457
Financials - 1.2%
Citigroup, Inc. 32,112 1,654,410
JPMorgan Chase & Co. 13,909 842,607
KCAD Holdings I, Ltd. (I) 165,553,563 872,467
3,369,484
Health care - 0.2%
Physiotherapy
      Associates Holdings, Inc. (I) 11,500 698,855
Industrials - 0.4%
DeepOcean Group Holdings AS (I) 83,286 1,048,571
Horizon Lines, Inc., Class A (I) 373,764 242,947
1,291,518
Materials - 0.1%
Mirabela Nickel, Ltd. (I)(L) 2,045,076 216,260
TOTAL COMMON STOCKS (Cost $10,663,479) $ 6,689,574

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

High Yield Trust (continued)

Shares or
Principal
Amount        Value
PREFERRED SECURITIES - 1.0%    
Energy - 0.1%    
Rex Energy Corp., 6.000% 5,500 $ 260,544
Financials - 0.9%    
GMAC Capital Trust I (8.125% to    
       02/15/2016, then    
       3 month LIBOR + 5.785%) 100,372   2,634,765
TOTAL PREFERRED SECURITIES (Cost $2,929,888) $ 2,895,309
           
ESCROW CERTIFICATES - 0.0%    
Consumer discretionary - 0.0%    
Adelphia Communications Corp.    
       7.750%, 01/15/2049 (I) 3,000,000   22,507
       9.875%, 03/01/2049 (I) 2,050,000   15,375
       10.250%, 11/01/2049 (I) 1,025,000   7,688
          45,570
TOTAL ESCROW CERTIFICATES (Cost $440,831) $ 45,570
           
WARRANTS - 0.0%    
Mood Media Corp. (Expiration Date:    
       05/06/2016; Strike Price: $3.50) (I) 66,933   0
TOTAL WARRANTS (Cost $0) $ 0
   
SECURITIES LENDING COLLATERAL - 2.8%    
John Hancock Collateral Trust (W)(Y) 815,911 $ 8,163,193
TOTAL SECURITIES LENDING    
COLLATERAL (Cost $8,163,348) $ 8,163,193
   
SHORT-TERM INVESTMENTS - 0.4%    
Money market funds - 0.4%    
State Street Institutional Liquid Reserves    
       Fund, 0.0986% (Y) 1,079,007   1,079,007
Repurchase agreement - 0.0%    
Repurchase Agreement with State    
       Street Corp. dated 03/31/2015 at    
       0.000% to be repurchased at $102,360    
       on 04/01/2015, collateralized by    
       $102,700 U.S. Treasury Notes, 1.500%    
       due 08/31/2018 (valued at $104,282,    
       including interest) $ 102,360 $ 102,360
TOTAL SHORT-TERM INVESTMENTS (Cost $1,181,367) $ 1,181,367
Total Investments (High Yield Trust)    
       (Cost $316,655,015) - 99.4% $ 294,868,783
Other assets and liabilities, net - 0.6%   1,845,965
TOTAL NET ASSETS - 100.0% $ 296,714,748

Income Trust

Shares or
Principal
Amount        Value
CORPORATE BONDS - 34.8%    
Consumer discretionary - 7.1%    
Academy, Ltd. 9.250%, 08/01/2019 (S) $ 400,000 $ 424,000
Altice Financing SA    
       6.625%, 02/15/2023 (S) 700,000   721,000
Altice SA    
       7.625%, 02/15/2025 (S) 1,000,000   1,001,870
       7.750%, 05/15/2022 (S) 500,000   508,750
Argos Merger Sub, Inc.    
       7.125%, 03/15/2023 (S) 200,000   207,250
Cablevision Systems Corp.    
       7.750%, 04/15/2018 2,000,000   2,220,000
CCO Holdings LLC    
       5.125%, 02/15/2023 900,000   909,000
       6.500%, 04/30/2021 1,000,000   1,050,000
CSC Holdings LLC 6.750%, 11/15/2021 2,000,000   2,220,000
Cumulus Media Holdings, Inc.    
       7.750%, 05/01/2019 (L) 700,000   686,000
DISH DBS Corp. 5.000%, 03/15/2023 1,500,000   1,458,450
Dollar General Corp. 3.250%, 04/15/2023 285,000   276,951
Family Tree Escrow LLC    
       5.750%, 03/01/2023 (S) 1,100,000   1,155,000
FCA US LLC 8.000%, 06/15/2019 3,000,000   3,146,250
iHeartCommunications, Inc.    
       9.000%, 12/15/2019 to 09/15/2022 3,919,000   3,782,608
KB Home 7.500%, 09/15/2022 700,000   717,500
Laureate Education, Inc.    
       10.000%, 09/01/2019 (S) 500,000   472,500
MGM Resorts International    
       6.750%, 10/01/2020 400,000   427,500
       10.000%, 11/01/2016 1,500,000   1,661,250
Numericable Group SA    
       6.000%, 05/15/2022 (S) 1,000,000   1,015,000
Outfront Media Capital LLC    
       5.250%, 02/15/2022 100,000   104,750
       5.625%, 02/15/2024 100,000   104,750
Sirius XM Radio, Inc.    
       6.000%, 07/15/2024 (S) 700,000   735,000
The Goodyear Tire & Rubber Company    
       6.500%, 03/01/2021 1,600,000   1,698,000
Univision Communications, Inc.    
       5.125%, 05/15/2023 (S) 1,000,000   1,015,000
Visant Corp. 10.000%, 10/01/2017 1,900,000   1,700,500
          29,418,879
Consumer staples - 1.8%    
Albertsons Holdings LLC    
       7.750%, 10/15/2022 (S) 160,000   171,200
Alliance One International, Inc.    
       9.875%, 07/15/2021 1,000,000   875,000
Cott Beverages, Inc.    
       5.375%, 07/01/2022 (S) 500,000   481,875
JBS USA LLC    
       7.250%, 06/01/2021 (S) 1,200,000   1,263,000
       8.250%, 02/01/2020 (S) 700,000   743,750
Reynolds Group Issuer, Inc.    
       5.750%, 10/15/2020 900,000   930,375
       7.875%, 08/15/2019 300,000   317,250
       9.875%, 08/15/2019 1,500,000   1,606,875
US Foods, Inc. 8.500%, 06/30/2019 800,000   840,000
          7,229,325
Energy - 5.5%    
Alpha Natural Resources, Inc.    
       7.500%, 08/01/2020 (S) 300,000   125,171
Antero Resources Finance Corp.    
       5.375%, 11/01/2021 600,000   582,000
Arch Coal, Inc. 7.000%, 06/15/2019 750,000   176,250
Bill Barrett Corp. 7.000%, 10/15/2022 500,000   434,688
BreitBurn Energy Partners LP    
       7.875%, 04/15/2022 500,000   360,000

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Income Trust (continued)

Shares or
Principal
Amount        Value
CORPORATE BONDS (continued)
Energy (continued)
California Resources Corp.  
       6.000%, 11/15/2024 (L)(S) $ 1,700,000 $ 1,489,625
Chesapeake Energy Corp.
       5.750%, 03/15/2023 (L) 4,200,000 4,095,000
       6.875%, 11/15/2020 100,000 104,500
CONSOL Energy, Inc. 5.875%, 04/15/2022 1,300,000 1,176,500
Denbury Resources, Inc.
       5.500%, 05/01/2022 700,000 630,000
Energy XXI Gulf Coast, Inc.
       9.250%, 12/15/2017 1,000,000 670,000
       11.000%, 03/15/2020 (S) 400,000 380,500
EP Energy LLC 9.375%, 05/01/2020 1,000,000 1,046,250
Kinder Morgan, Inc.
       5.625%, 11/15/2023 (S) 1,300,000 1,429,527
       7.750%, 01/15/2032 300,000 369,250
Linn Energy LLC 8.625%, 04/15/2020 1,700,000 1,453,500
Midstates Petroleum Company, Inc.
       10.750%, 10/01/2020 500,000 270,000
NGL Energy Partners LP
       6.875%, 10/15/2021 1,000,000 1,045,000
Niska Gas Storage Canada ULC
       6.500%, 04/01/2019 (L) 500,000 371,250
Peabody Energy Corp.
       6.250%, 11/15/2021 (L) 1,500,000 922,500
       10.000%, 03/15/2022 (L)(S) 1,000,000 885,000
Regency Energy Partners LP
       5.875%, 03/01/2022 200,000 217,000
Rice Energy, Inc. 6.250%, 05/01/2022 700,000 682,500
Sabine Pass Liquefaction LLC
       5.750%, 05/15/2024 1,000,000 1,005,000
Sabine Pass LNG LP 7.500%, 11/30/2016 800,000 850,000
Sanchez Energy Corp.
       7.750%, 06/15/2021 (L) 900,000 868,500
SandRidge Energy, Inc.
       7.500%, 03/15/2021 500,000 310,000
W&T Offshore, Inc. 8.500%, 06/15/2019 1,500,000 907,500
        22,857,011
Financials - 5.3%
Bank of America Corp. (6.100% to
       03/17/2025, then 3 month
       LIBOR + 3.898%)
       6.100%, 03/17/2025 (Q) 500,000 507,188
Bank of America Corp., (8.125% to
       05/15/2018, then 3 month
       LIBOR + 3.640%)
       8.125%, 05/15/2018 (Q) 1,500,000 1,618,125
Citigroup, Inc.
       7.000%, 11/13/2015 (S) 2,800,000 1,240,680
Citigroup, Inc. (5.875% to 03/27/2020,
       then 3 month LIBOR + 4.059%)
       5.875%, 03/27/2020 (Q) 2,500,000 2,525,000
Citigroup, Inc. (6.300% to 05/15/2024,
       then 3 month LIBOR + 3.423%)
       6.300%, 05/15/2024 (Q) 1,500,000 1,531,875
JPMorgan Chase & Company (5.150% to
       05/01/2023, then 3 month
       LIBOR + 3.250%)
       5.150%, 05/01/2023 (Q) 1,000,000 976,250
JPMorgan Chase & Company (7.900% to
       04/30/2018, then 3 month
       LIBOR + 3.470%)
       7.900%, 04/30/2018 (Q) 7,500,000 8,071,875
Morgan Stanley (5.550% to 07/15/2020,    
       then 3 month LIBOR + 3.810%)    
       5.550%, 07/15/2020 (Q) 400,000 404,000
Nationstar Mortgage LLC    
       9.625%, 05/01/2019 (L) 1,700,000   1,814,750
OneMain Financial Holdings, Inc.    
       7.250%, 12/15/2021 (S) 1,500,000   1,552,500
Stena International SA    
       5.750%, 03/01/2024 (S) 800,000   760,000
Wells Fargo & Company (5.900% to    
       06/15/2024, then 3 month    
       LIBOR + 3.110%)    
       5.900%, 06/15/2024 (Q) 800,000   833,000
          21,835,243
Health care - 2.1%    
Community Health Systems, Inc.    
       5.125%, 08/01/2021 300,000   309,000
       6.875%, 02/01/2022 500,000   531,875
HCA, Inc.    
       5.875%, 05/01/2023 1,000,000   1,080,000
       6.500%, 02/15/2020 1,300,000   1,463,800
       7.500%, 02/15/2022 1,200,000   1,399,500
Tenet Healthcare Corp.    
       8.000%, 08/01/2020 953,000   1,000,650
Valeant Pharmaceuticals International, Inc.    
       6.125%, 04/15/2025 (S) 600,000   621,750
       7.500%, 07/15/2021 (S) 1,400,000   1,514,184
VRX Escrow Corp.    
       5.875%, 05/15/2023 (S) 800,000   820,000
          8,740,759
Industrials - 2.2%    
Abengoa Finance SAU    
       8.875%, 11/01/2017 (L)(S) 1,200,000   1,224,000
Bombardier, Inc. 7.500%, 03/15/2025 (S) 300,000   296,063
CEVA Group PLC 4.000%, 05/01/2018 (S) 2,100,000   1,905,750
HD Supply, Inc. 5.250%, 12/15/2021 (S) 500,000   515,000
Navistar International Corp.    
       8.250%, 11/01/2021 1,100,000   1,069,750
Ocean Rig UDW, Inc.    
       7.250%, 04/01/2019 (L)(S) 3,000,000   1,740,000
Stena AB 7.000%, 02/01/2024 (S) 300,000   291,000
TransDigm, Inc.    
       6.000%, 07/15/2022 500,000   499,375
       6.500%, 07/15/2024 500,000   502,500
United Rentals North America, Inc.    
       8.375%, 09/15/2020 900,000   967,770
          9,011,208
Information technology - 3.3%    
BMC Software Finance, Inc.    
       8.125%, 07/15/2021 (S) 1,500,000   1,372,500
Boxer Parent Company, Inc., PIK    
       9.000%, 10/15/2019 (S) 200,000   165,000
CDW LLC 8.500%, 04/01/2019 991,000   1,033,118
First Data Corp.    
       8.250%, 01/15/2021 (S) 3,500,000   3,771,250
       12.625%, 01/15/2021 3,050,000   3,614,250
First Data Corp., PIK    
       8.750%, 01/15/2022 (S) 1,504,000   1,618,680
Freescale Semiconductor, Inc.    
       10.750%, 08/01/2020 1,426,000   1,550,775
Infor US, Inc. 9.375%, 04/01/2019 200,000   214,500

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Income Trust (continued)

Shares or
Principal
Amount        Value
CORPORATE BONDS (continued)    
Information technology (continued)    
SRA International, Inc.    
       11.000%, 10/01/2019 $ 300,000 $ 318,000
          13,658,073
Materials - 1.0%    
Algeco Scotsman Global Finance PLC    
       8.500%, 10/15/2018 (L)(S) 1,000,000   991,250
AngloGold Ashanti Holdings PLC    
       8.500%, 07/30/2020 600,000   644,850
Cemex SAB de CV    
       5.875%, 03/25/2019 (L)(S) 500,000   516,250
First Quantum Minerals, Ltd.    
       6.750%, 02/15/2020 (S) 517,000   478,225
       7.000%, 02/15/2021 (S) 517,000   479,518
FMG Resources August 2006 Pty, Ltd.    
       6.875%, 02/01/2018 (L)(S) 444,444   435,556
INEOS Finance PLC    
       8.375%, 02/15/2019 (S) 700,000   744,240
          4,289,889
Telecommunication services - 3.9%    
CenturyLink, Inc. 6.750%, 12/01/2023 200,000   220,250
Frontier Communications Corp.    
       8.500%, 04/15/2020 500,000   561,250
Intelsat Jackson Holdings SA    
       5.500%, 08/01/2023 500,000   472,500
Sprint Communications, Inc.    
       9.000%, 11/15/2018 (S) 3,000,000   3,442,500
       11.500%, 11/15/2021 1,500,000   1,811,250
T-Mobile USA, Inc.    
       6.633%, 04/28/2021 2,500,000   2,618,750
       6.731%, 04/28/2022 2,500,000   2,631,250
Telecom Italia SpA    
       5.303%, 05/30/2024 (S) 1,500,000   1,571,250
Verizon Communications, Inc.    
       5.150%, 09/15/2023 1,400,000   1,605,078
Wind Acquisition Finance SA    
       7.375%, 04/23/2021 (S) 1,000,000   1,037,500
          15,971,578
Utilities - 2.6%    
Calpine Corp.    
       5.375%, 01/15/2023 1,500,000   1,500,000
       5.750%, 01/15/2025 1,000,000   1,007,500
Dynegy Finance I, Inc.    
       6.750%, 11/01/2019 (S) 4,000,000   4,140,000
InterGen NV 7.000%, 06/30/2023 (S) 4,000,000   3,870,000
NRG Yield Operating LLC    
       5.375%, 08/15/2024 (S) 300,000   312,000
          10,829,500
TOTAL CORPORATE BONDS (Cost $140,520,986) $ 143,841,465
 
CONVERTIBLE BONDS - 1.8%    
Consumer discretionary - 0.9%    
Fiat Chrysler Automobiles NV    
       7.875%, 12/15/2016 1,000,000   1,377,500
Volkswagen International Finance NV    
       5.500%, 11/09/2015 (S) EUR 1,500,000   2,310,993
          3,688,493
Energy - 0.7%    
Cobalt International Energy, Inc.    
       3.125%, 05/15/2024 $ 4,000,000   2,952,500
Materials - 0.2%    
Cemex SAB de CV 3.750%, 03/15/2018 605,000 716,169
TOTAL CONVERTIBLE BONDS (Cost $7,527,012) $ 7,357,162
           
TERM LOANS (M) - 1.9%    
Consumer discretionary - 0.8%    
iHeartCommunications, Inc.    
       6.928%, 01/30/2019 2,539,722   2,412,101
       7.678%, 07/30/2019 816,818   786,799
          3,198,900
Industrials - 0.5%    
Drillships Financing Holding, Inc.    
       6.000%, 03/31/2021 1,979,899   1,506,704
Navistar, Inc.    
       5.750%, 08/17/2017 760,128   763,295
          2,269,999
Information technology - 0.6%    
First Data Corp.    
       3.674%, 03/24/2018 1,584,873   1,583,222
SRA International, Inc.    
       6.500%, 07/20/2018 746,952   749,286
          2,332,508
TOTAL TERM LOANS (Cost $8,222,618) $ 7,801,407
   
COMMON STOCKS - 47.5%    
Consumer discretionary - 2.9%    
Automobiles - 1.6%    
Ford Motor Company 225,000 $ 3,631,500
General Motors Company 72,416   2,715,600
          6,347,100
Hotels, restaurants and leisure - 0.1%    
Las Vegas Sands Corp. 10,000   550,400
Media - 0.0%    
Dex Media, Inc. (I)(L) 19,933   83,519
Multiline retail - 1.2%    
Target Corp. 60,000   4,924,200
          11,905,219
Consumer staples - 0.8%    
Beverages - 0.8%    
PepsiCo, Inc. 35,920   3,434,670
Energy - 7.7%    
Energy equipment and services - 0.5%    
Halliburton Company 20,000   877,600
Schlumberger, Ltd. 15,000   1,251,600
  2,129,200
Oil, gas and consumable fuels - 7.2%    
BP PLC, ADR 170,000   6,648,700
Canadian Oil Sands, Ltd. 100,000   777,703
Chevron Corp. 50,000   5,249,000
Devon Energy Corp. 15,000   904,650
Occidental Petroleum Corp. 10,000   730,000
Royal Dutch Shell PLC, ADR, Class A 154,414   9,210,795
Spectra Energy Corp. 73,370   2,653,793
The Williams Companies, Inc. 46,570   2,355,976
Total SA, ADR 25,000   1,241,500
  29,772,117
  31,901,317

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Income Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)    
Financials - 2.3%    
Banks - 1.6%    
JPMorgan Chase & Co. 42,160 $ 2,554,053
Wells Fargo & Company 73,150   3,979,360
  6,533,413
Insurance - 0.7%    
MetLife, Inc. 55,462   2,803,604
  9,337,017
Health care - 4.5%    
Pharmaceuticals - 4.5%    
Eli Lilly & Company 18,400   1,336,760
Johnson & Johnson 26,010   2,616,606
Merck & Company, Inc. 67,130   3,858,632
Pfizer, Inc. 200,000   6,958,000
Sanofi, ADR 80,000   3,955,200
  18,725,198
  18,725,198
Industrials - 5.1%    
Aerospace and defense - 1.9%    
The Boeing Company 7,000   1,050,560
Lockheed Martin Corp. 19,290   3,915,098
Raytheon Company 19,110   2,087,768
United Technologies Corp. 5,000   586,000
  7,639,426
Air freight and logistics - 0.2%    
CEVA Group PLC (I) 1,115   808,426
Commercial services and supplies - 1.3%    
Republic Services, Inc. 47,620   1,931,467
Waste Management, Inc. 65,340   3,543,388
  5,474,855
Industrial conglomerates - 1.7%    
General Electric Company 281,620   6,986,992
  20,909,699
Information technology - 3.0%    
Communications equipment - 0.8%    
Cisco Systems, Inc. 119,080   3,277,677
Semiconductors and semiconductor equipment - 1.6%    
Intel Corp. 109,590   3,426,879
Texas Instruments, Inc. 53,370   3,051,963
  6,478,842
Software - 0.6%    
Microsoft Corp. 61,640   2,505,974
  12,262,493
Materials - 7.9%    
Chemicals - 4.8%    
Agrium, Inc. (L) 35,000   3,649,450
BASF SE 20,000   1,979,911
E.I. du Pont de Nemours & Company 69,450   4,963,592
LyondellBasell Industries NV, Class A 30,000   2,634,000
The Dow Chemical Company 100,000   4,798,000
The Mosaic Company 35,000   1,612,100
  19,637,053
Metals and mining - 3.1%    
BHP Billiton PLC 161,680   3,548,117
Freeport-McMoRan, Inc. 137,150   2,598,993
Goldcorp, Inc. 65,440   1,185,773
Rio Tinto PLC, ADR (L) 134,483 5,567,596
  12,900,479
  32,537,532
Telecommunication services - 2.1%    
Diversified telecommunication services - 1.9%    
AT&T, Inc. 82,320   2,687,748
CenturyLink, Inc. 15,000   518,250
Telstra Corp., Ltd. 300,000   1,440,137
Verizon Communications, Inc. 65,070   3,164,354
  7,810,489
Wireless telecommunication services - 0.2%    
Vodafone Group PLC 327,272   1,070,940
  8,881,429
Utilities - 11.2%    
Electric utilities - 6.9%    
Duke Energy Corp. 47,082   3,614,956
Entergy Corp. 35,000   2,712,150
Exelon Corp. 130,000   4,369,300
FirstEnergy Corp. 35,450   1,242,877
NextEra Energy, Inc. 53,345   5,550,547
Pinnacle West Capital Corp. 27,430   1,748,663
PPL Corp. 35,500   1,194,930
The Southern Company 110,000   4,870,800
Xcel Energy, Inc. 100,000   3,481,000
  28,785,223
Independent power and renewable electricity producers - 0.6%    
Dynegy, Inc. (I) 80,168   2,519,680
Multi-utilities - 3.7%    
Dominion Resources, Inc. 40,070   2,839,761
PG&E Corp. 112,400   5,965,068
Public Service Enterprise Group, Inc. 70,000   2,934,400
Sempra Energy 20,950   2,283,969
TECO Energy, Inc. 59,000   1,144,600
  15,167,798
  46,472,701
TOTAL COMMON STOCKS (Cost $169,483,256) $ 196,367,275
   
PREFERRED SECURITIES - 4.8%    
Energy - 0.6%    
Energy equipment and services - 0.0%    
Newco Acquisition Company, Ltd. (I) 31   31,000
Oil, gas and consumable fuels - 0.6%    
Chesapeake Energy Corp., 5.750% (S) 1,900   1,641,125
SandRidge Energy, Inc., 7.000% (I) 26,500   1,016,938
  2,658,063
  2,689,063
Financials - 3.3%    
Banks - 2.9%    
Bank of America Corp., 7.250% 5,350   6,189,950
Wells Fargo & Company, 7.500% 4,600   5,625,800
  11,815,750
Capital markets - 0.1%    
Morgan Stanley (6.375% to 10/15/2024,    
       then 3 month LIBOR + 3.708%) 20,000   520,800

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Income Trust (continued)

Shares or
Principal
Amount       Value
PREFERRED SECURITIES (continued)
Real estate investment trusts - 0.2%
FelCor Lodging Trust, Inc., 1.950% 30,000   $ 784,500  
Thrifts and mortgage finance - 0.1%
Federal National Mortgage Association,
       Series S (Higher of 3 month
       LIBOR + 4.230% or 7.750%) (I)(L) 79,300 329,888
13,450,938
Health care - 0.3%
Pharmaceuticals - 0.3%  
Actavis PLC, 5.500% (I) 1,175 1,189,100
Information technology - 0.2%
Semiconductors and semiconductor equipment - 0.2%
Ceva, Inc. (I) 1,068 774,387
Utilities - 0.4%
Multi-utilities - 0.4%
Dominion Resources, Inc., 6.000% 8,500 479,400
Dominion Resources, Inc., 6.125% 8,500 477,360
Dominion Resources, Inc., 6.375% 18,600 900,240
1,857,000
1,857,000
TOTAL PREFERRED SECURITIES (Cost $19,885,761) $ 19,960,488
 
WARRANTS - 0.0%
Dynegy, Inc. (Expiration Date: 10/02/2017;
       Strike Price: $40.00) (I) 10,796 45,559
TOTAL WARRANTS (Cost $208,370) $ 45,559
 
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 - 3.2%
Financials - 3.2%
Anadarko Petroleum Corp. (Barclays Bank
       PLC) 6.000%, 09/02/2015 (S) 15,000 1,278,368
Anadarko Petroleum Corp. (JPMorgan
       Chase & Company) 7.000%, 12/08/2015 20,000 1,716,600
Apple, Inc. (Citigroup, Inc.)
       7.000%, 03/22/2016 (S) 25,000 3,099,950
Baker Hughes, Inc. (Credit Suisse AG)
       3.186%, 11/13/2015 1,500,000 889,200
Bank of America Corp. (The Goldman
       Sachs Group, Inc.) 6.000%, 11/12/2015 125,000 1,976,000
Freescale Semiconductor, Ltd. (Bank of
       America Corp.) 7.000%, 12/23/2015 53,000 1,397,769
General Motors Company (Deutsche Bank
       AG London) 8.000%, 03/18/2016 (S) 2,700,000 1,015,011
Intel Corp. (Bank of America
       Corp.) 6.500%, 62,000 1,969,368
13,342,266
TOTAL EQUITY LINKED SECURITIES (Cost $13,708,573) $ 13,342,266
 
SECURITIES LENDING COLLATERAL - 5.5%
John Hancock
       Collateral Trust, 0.1102% (W)(Y) 2,261,789 $ 22,629,198
TOTAL SECURITIES LENDING
COLLATERAL (Cost $22,629,642) $ 22,629,198
 
SHORT-TERM INVESTMENTS - 2.2%
U.S. Government & Agency
obligations - 2.2%
Federal Home Loan Bank Discount Notes,
       0.010%, 04/01/2015 * $ 9,000,000 $ 9,000,000
TOTAL SHORT-TERM INVESTMENTS (Cost $9,000,000) $ 9,000,000
Total Investments (Income Trust)
       (Cost $391,186,544) - 101.7% $ 420,345,670
Other assets and liabilities, net - (1.7%) (7,114,019 )
TOTAL NET ASSETS - 100.0% $ 413,231,651

International Core Trust

Shares or
Principal
Amount Value
COMMON STOCKS - 97.3%
Australia - 0.1%
Pacific Brands, Ltd. (I) 169,701       $ 59,228
Woodside Petroleum, Ltd. 38,704 1,014,003
1,073,231
Austria - 0.4%
OMV AG 44,950 1,233,042
voestalpine AG 42,436 1,552,305
2,785,347
Belgium - 1.1%
Belgacom SA 72,622 2,540,910
Delhaize Group SA 42,218 3,792,854
Solvay SA 7,855 1,135,436
Umicore SA 5,590 233,467
7,702,667
Bermuda - 0.0%
Catlin Group, Ltd. 20,270 213,521
213,521
Canada - 0.5%
Suncor Energy, Inc. 129,200 3,775,368
3,775,368
Denmark - 1.2%
AP Moeller - Maersk A/S, Class B (L) 1,153 2,410,032
Carlsberg A/S, Class B (L) 10,703 882,530
Novo Nordisk A/S, Class B 30,150 1,609,521
Pandora A/S 15,980 1,454,901
TDC A/S 79,289 568,103
Vestas Wind Systems A/S 38,841 1,601,450
8,526,537
Finland - 0.9%
Fortum OYJ (L) 98,879 2,071,526
Metso OYJ (L) 6,570 191,953
Neste Oil OYJ (L) 35,367 928,024
Nokia OYJ 119,976 914,784
Stora Enso OYJ, Series R 35,473 364,733
Tieto OYJ (L) 25,094 589,676

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

International Core Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Finland (continued)
UPM-Kymmene OYJ 95,712       $ 1,859,385
6,920,081
France - 16.2%
AXA SA 47,527 1,196,211
BNP Paribas SA 30,229 1,839,307
Bouygues SA 64,080 2,515,501
Carrefour SA 37,091 1,239,092
Casino Guichard Perrachon SA 11,426 1,011,723
Christian Dior SE 1,604 301,900
Cie de Saint-Gobain 55,927 2,455,594
Cie Generale des Etablissements Michelin 44,381 4,413,449
Credit Agricole SA 134,251 1,972,805
Electricite de France SA 51,030 1,223,607
GDF Suez 347,930 6,869,165
Hermes International 344 121,461
LVMH Moet Hennessy Louis Vuitton SE 5,955 1,047,975
Orange SA 512,835 8,235,873
Peugeot SA (I) 119,941 2,004,879
Rallye SA 14,823 557,759
Renault SA 173,789 15,785,197
Rexel SA 24,335 458,854
Sanofi 113,777 11,236,464
Schneider Electric SE 74,118 5,767,750
Societe Generale SA 13,742 663,489
Suez Environnement Company 64,934 1,117,932
Total SA 615,899 30,614,377
Valeo SA 6,708 1,000,529
Vallourec SA 26,276 641,329
Veolia Environnement SA 107,041 2,024,521
Vinci SA 58,786 3,358,650
Vivendi SA 375,310 9,318,081
118,993,474
Germany - 10.7%
Allianz SE 10,750 1,866,371
Aurubis AG 32,949 1,860,897
BASF SE 168,561 16,686,725
Bayerische Motoren Werke AG 40,651 5,062,458
Bilfinger SE 8,818 509,683
Daimler AG (L) 126,134 12,113,197
Deutsche Lufthansa AG 108,176 1,514,748
Deutsche Telekom AG 484,496 8,861,601
E.ON SE 542,318 8,063,656
Freenet AG 8,159 245,189
Fresenius Medical Care AG & Company KGaA 30,466 2,532,377
HeidelbergCement AG 12,932 1,022,688
K+S AG 73,384 2,390,992
Leoni AG 26,151 1,651,895
Metro AG 41,979 1,422,656
Muenchener Rueckversicherungs AG 9,683 2,080,696
ProSiebenSat.1 Media AG 43,973 2,150,839
Rheinmetall AG 2,912 140,064
RWE AG 141,433 3,600,861
Salzgitter AG 16,807 487,300
Siemens AG 29,846 3,227,956
Suedzucker AG 1,442 17,607
Volkswagen AG 2,681 689,342
78,199,798
Hong Kong - 1.1%
CK Hutchison Holdings, Ltd. 102,000 2,083,913
Hongkong Land Holdings, Ltd. 21,600 163,093
Hutchison Whampoa, Ltd. 69,000 956,399
Noble Group, Ltd. 1,463,000 979,972
Sun Hung Kai Properties, Ltd. 89,802 1,384,701
Swire Pacific, Ltd. 142,000 1,932,972
Wharf Holdings, Ltd. 119,000 830,721
8,331,771
Ireland - 0.5%
CRH PLC 70,634 1,847,272
Shire PLC 24,906 1,985,575
3,832,847
Israel - 0.8%
Check Point Software Technologies, Ltd. (I) 50,500 4,139,485
Partner Communications Company, Ltd. (I) 41,487 114,989
Teva Pharmaceutical Industries, Ltd. 31,361 1,959,977
6,214,451
Italy - 4.2%
A2A SpA 495,118 514,109
Enel SpA 1,681,350 7,595,344
Eni SpA 668,946 11,578,168
Finmeccanica SpA (I) 199,872 2,374,097
Mediaset SpA (I) 269,940 1,228,686
Recordati SpA 4,477 83,607
Snam SpA 143,217 695,192
Telecom Italia SpA (I) 3,708,775 4,342,594
Telecom Italia SpA 2,764,051 2,599,070
31,010,867
Japan - 22.7%
Aeon Company, Ltd. 62,400 684,492
Aisin Seiki Company, Ltd. 14,100 511,200
Asahi Glass Company, Ltd. 93,000 609,149
Asahi Kasei Corp. 69,000 658,924
Asatsu-DK, Inc. 2,400 65,371
Brother Industries, Ltd. 5,300 84,206
Canon, Inc. 165,900 5,869,757
Central Japan Railway Company 14,500 2,620,435
CyberAgent, Inc. 35,500 2,033,343
Daihatsu Motor Company, Ltd. 21,500 328,855
Daiichi Sankyo Company, Ltd. 2,400 38,138
Daito Trust Construction Company, Ltd. 16,100 1,797,818
Daiwabo Holdings Company, Ltd. 183,000 293,971
Dena Company, Ltd. (L) 126,100 2,468,233
Fuji Heavy Industries, Ltd. 36,384 1,207,812
Fuji Oil Company, Ltd. 23,200 369,752
FUJIFILM Holdings Corp. 39,400 1,401,717
Gree, Inc. (L) 228,100 1,587,125
Gunze, Ltd. 46,000 122,940
Hanwa Company, Ltd. 164,000 665,160
Haseko Corp. 216,200 2,105,988
Hitachi Chemical Company, Ltd. 12,300 262,649
Honda Motor Company, Ltd. 204,300 6,668,953
Hoya Corp. 29,300 1,173,006
Inpex Holdings, Inc. 236,000 2,600,435
ITOCHU Corp. 373,900 4,046,301
Japan Tobacco, Inc. 79,600 2,516,543
JFE Holdings, Inc. 68,100 1,503,179
JSR Corp. 12,100 209,538
JX Holdings, Inc. 501,900 1,931,138
K’s Holdings Corp. (L) 52,200 1,688,015
Kawasaki Kisen Kaisha, Ltd. 604,000 1,621,898
KDDI Corp. 154,770 3,496,646
Keyence Corp. 3,400 1,855,369
Kobe Steel, Ltd. 628,000 1,158,293

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

International Core Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Japan (continued)
Kohnan Shoji Company, Ltd. 12,000   $ 134,386
Kuraray Company, Ltd. 8,800 119,150
Kyocera Corp. 166,300 9,088,751
Leopalace21 Corp. (I) 242,200 1,267,842
Marubeni Corp. 500,576 2,894,078
Medipal Holdings Corp. 53,600 698,630
Mitsubishi Chemical Holdings Corp. 336,200 1,951,664
Mitsubishi Corp. 345,305 6,938,501
Mitsubishi Electric Corp. 69,000 819,132
Mitsubishi UFJ Financial Group, Inc. 319,900 1,981,273
Mitsui & Company, Ltd. 441,600 5,913,988
Mitsui Engineering &
       Shipbuilding Company, Ltd. 436,000 743,371
Mitsui OSK Lines, Ltd. 423,000 1,434,682
Murata Manufacturing Company, Ltd. 11,100 1,524,465
Nidec Corp. 19,200 1,274,529
Nippon Electric Glass Company, Ltd. 73,000 356,764
Nippon Light Metal Holdings Company, Ltd. 73,700 109,157
Nippon Paper Industries Company, Ltd. (L) 84,500 1,269,799
Nippon Steel & Sumitomo Metal Corp. 301,000 756,836
Nippon Telegraph & Telephone Corp. 123,300 7,611,435
Nippon Yusen KK 215,000 618,498
Nipro Corp. 22,200 211,360
Nissan Motor Company, Ltd. 2,284,800 23,237,679
Nitori Holdings Company, Ltd. 25,800 1,746,493
North Pacific Bank, Ltd. 27,900 105,298
NTT DoCoMo, Inc. 284,200 4,966,686
Osaka Gas Company, Ltd. 65,000 271,816
Panasonic Corp. 94,600 1,242,291
Resona Holdings, Inc. 378,900 1,880,392
Ricoh Company, Ltd. 95,700 1,040,588
Ryohin Keikaku Company, Ltd. 12,500 1,815,150
Seiko Epson Corp. 69,600 1,232,710
Sekisui House, Ltd. 52,700 765,206
Showa Denko KK 185,000 235,583
SMC Corp. 3,200 952,844
Sojitz Corp. 1,465,700 2,450,276
Sumitomo Corp. 342,600 3,655,872
Sumitomo Heavy Industries, Ltd. 67,000 438,468
Sumitomo Metal Mining Company, Ltd. 87,000 1,271,569
Sumitomo Mitsui Financial Group, Inc. 55,000 2,106,752
Sumitomo Rubber Industries, Ltd. 19,500 359,451
Takeda Pharmaceutical Company, Ltd. 62,311 3,110,435
The Yokohama Rubber Company, Ltd. 22,000 226,777
Tokyo Electric Power Company, Inc. (I) 288,900 1,093,472
TonenGeneral Sekiyu KK 27,867 240,328
Tosoh Corp. 171,000 861,324
Toyota Tsusho Corp. 105,400 2,788,632
Ube Industries, Ltd. 143,000 223,740
UNY Group Holdings Company, Ltd. (L) 169,500 949,798
West Japan Railway Company 15,300 802,185
Yamada Denki Company, Ltd. (L) 618,200 2,545,708
166,592,163
Luxembourg - 0.2%
ArcelorMittal 118,037 1,107,488
1,107,488
Netherlands - 6.5%
Aegon NV 200,642 1,584,195
Boskalis Westminster NV 4,217 207,849
Corbion NV 14,931 283,247
Delta Lloyd NV 41,257 776,332
Heineken NV 15,542 1,186,264
ING Groep NV (I) 62,015 908,391
Koninklijke Ahold NV 207,510 4,089,149
Koninklijke BAM Groep NV 47,410 211,198
Koninklijke DSM NV 14,118 786,855
Koninklijke KPN NV 657,235 2,227,789
PostNL NV (I) 329,251 1,398,759
Royal Dutch Shell PLC, A Shares 708,669 21,073,662
Royal Dutch Shell PLC, B Shares 398,067 12,399,859
SNS REAAL NV (I) 69,081 0
Wolters Kluwer NV 8,399 274,266
47,407,815
New Zealand - 0.0%
Chorus, Ltd. (I) 103,262 220,193
220,193
Norway - 1.6%
Orkla ASA 15,557 117,414
Statoil ASA 291,396 5,152,292
Telenor ASA 106,530 2,149,816
TGS Nopec Geophysical Company ASA 41,622 921,237
Yara International ASA 69,186 3,512,775
11,853,534
Portugal - 0.4%
EDP - Energias de Portugal SA 743,175 2,783,287
2,783,287
Singapore - 0.2%
Golden Agri-Resources, Ltd. 3,821,000 1,182,442
1,182,442
Spain - 4.4%
ACS Actividades de Construccion
       y Servicios SA 44,332 1,569,095
Enagas SA 44,640 1,276,470
Endesa SA 3,642 70,308
Ferrovial SA 46,795 994,954
Gas Natural SDG SA 99,460 2,233,079
Iberdrola SA 939,756 6,060,042
Indra Sistemas SA 12,482 146,302
Red Electrica Corp. SA 6,442 523,818
Repsol SA 206,877 3,851,072
Telefonica SA 1,074,090 15,283,712
32,008,852
Sweden - 2.0%
Investor AB, B Shares 34,708 1,381,615
NCC AB, B Shares (L) 25,121 831,230
Sandvik AB 68,193 763,628
Securitas AB, B Shares 15,578 223,644
Skanska AB, B Shares 47,429 1,063,326
Tele2 AB, B Shares 17,089 204,398
Telefonaktiebolaget LM Ericsson, B Shares 327,820 4,115,761
TeliaSonera AB 676,620 4,299,707
Volvo AB, B Shares 145,006 1,754,896
14,638,205
Switzerland - 2.0%
ABB, Ltd. (I) 166,722 3,536,842
Actelion, Ltd. (I) 13,847 1,597,024
Holcim, Ltd. (I) 20,438 1,522,681
Nestle SA 58,925 4,437,196
Swisscom AG 2,637 1,529,171

The accompanying notes are an integral part of the financial statements. 99


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

International Core Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Switzerland (continued)
Zurich Insurance Group AG (I) 5,697       $ 1,925,599  
14,548,513
United Kingdom - 17.7%
AstraZeneca PLC 325,531 22,337,338
Aviva PLC 138,650 1,109,595
BAE Systems PLC 446,950 3,463,652
Balfour Beatty PLC 60,290 214,902
BG Group PLC 148,510 1,822,765
BP PLC 4,180,745 27,100,157
British American Tobacco PLC 119,543 6,190,392
BT Group PLC 529,010 3,437,410
Carillion PLC 39,220 189,802
Centrica PLC 1,022,182 3,823,256
Compass Group PLC 107,472 1,865,626
Fiat Chrysler Automobiles NV (I) 138,344 2,245,877
GlaxoSmithKline PLC 586,330 13,497,223
Home Retail Group PLC 408,596 996,579
Imperial Tobacco Group PLC 13,363 586,182
J Sainsbury PLC 72,133 276,803
Kingfisher PLC 110,992 626,222
Ladbrokes PLC 10,569 16,300
Marks & Spencer Group PLC 198,216 1,567,657
Next PLC 15,185 1,579,210
Pearson PLC 74,779 1,609,512
Prudential PLC 40,060 994,102
Reckitt Benckiser Group PLC 68,037 5,844,733
SSE PLC 45,167 1,002,385
Tesco PLC 1,560,588 5,570,582
Trinity Mirror PLC (I) 89,689 241,282
Unilever NV 44,736 1,869,401
Unilever PLC 89,060 3,715,875
Vodafone Group PLC 4,140,321 13,548,419
WM Morrison Supermarkets PLC 404,048 1,154,740
WPP PLC 67,198 1,526,102
130,024,081
United States - 1.9%
Catamaran Corp. (I) 117,600 7,001,912
Valeant Pharmaceuticals International, Inc. (I) 35,374 7,025,984
14,027,896
TOTAL COMMON STOCKS (Cost $712,129,968) $ 713,974,429
 
PREFERRED SECURITIES - 1.8%
Germany - 1.8%
Porsche Automobil Holding SE 53,700 5,258,734
Volkswagen AG 29,933 7,938,275
13,197,009
TOTAL PREFERRED SECURITIES (Cost $10,570,327) $ 13,197,009
 
RIGHTS - 0.0%
Telefonica SA (Expiration
       Date: 04/06/2015) (I)(N) 1,074,090 173,237
TOTAL RIGHTS (Cost $0) $ 173,237
 
SECURITIES LENDING COLLATERAL - 3.8%
John Hancock
       Collateral Trust, 0.1102% (W)(Y) 2,757,495 27,588,736
TOTAL SECURITIES LENDING
COLLATERAL (Cost $27,588,957) $ 27,588,736
 
SHORT-TERM INVESTMENTS - 0.4%
Money market funds - 0.4%
JPMorgan U.S. Treasury Plus Money Market
       Fund, 0.0100% (Y) 3,025,984 3,025,984
3,025,984
TOTAL SHORT-TERM INVESTMENTS (Cost $3,025,984) $ 3,025,984
Total Investments (International Core Trust)
       (Cost $753,315,236) - 103.3% $ 757,959,395
Other assets and liabilities, net - (3.3%) (24,190,503 )
TOTAL NET ASSETS - 100.0% $ 733,768,892

International Equity Index Trust B

Shares or      
Principal
Amount Value
COMMON STOCKS - 96.1%
Australia - 5.3%
AGL Energy, Ltd. 22,581 $ 261,054
ALS, Ltd. 16,356 61,435
Alumina, Ltd. 97,775 118,984
Amcor, Ltd. 47,860 509,946
AMP, Ltd. 113,320 553,098
APA Group 46,245 318,078
Asciano, Ltd. 34,768 167,199
ASX, Ltd. 6,730 211,735
Aurizon Holdings, Ltd. 67,567 248,695
AusNet Services 86,233 95,704
Australia & New Zealand Banking Group, Ltd. 99,131 2,757,841
Bank of Queensland, Ltd. 13,798 144,586
Bendigo & Adelaide Bank, Ltd. 17,738 169,023
BHP Billiton PLC 74,597 1,637,047
BHP Billiton, Ltd. 112,851 2,623,110
Boral, Ltd. 30,626 148,457
Brambles, Ltd. 58,198 508,953
Caltex Australia, Ltd. 5,216 138,429
Coca-Cola Amatil, Ltd. 24,867 203,595
Cochlear, Ltd. 2,020 138,868
Commonwealth Bank of Australia 56,354 3,997,223
Computershare, Ltd. 16,916 163,507
Crown Resorts, Ltd. 14,609 148,281
CSL, Ltd. 17,092 1,195,796
Dexus Property Group 30,665 176,541
Federation Centres 48,148 111,141
Flight Centre Travel Group, Ltd. 2,493 75,033
Fortescue Metals Group, Ltd. (L) 50,633 74,952
Goodman Group 63,626     306,369
Harvey Norman Holdings, Ltd. 15,848 53,567
Healthscope, Ltd. 38,676 89,916
Iluka Resources, Ltd. 17,126 110,393
Incitec Pivot, Ltd. 66,828 206,415
Insurance Australia Group, Ltd. 87,472 404,907
Leighton Holdings, Ltd. 3,702 59,320
Lend Lease Group 20,344 256,957
Macquarie Group, Ltd. 9,924 576,846
Medibank Pvt, Ltd. (I) 94,782 167,161
Mirvac Group 125,759 192,023
National Australia Bank, Ltd. 85,032 2,489,251
Newcrest Mining, Ltd. (I) 29,796 300,508
Novion Property Group 73,743 140,478
Orica, Ltd. 13,519 205,289

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

International Equity Index Trust B (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Australia (continued)
Origin Energy, Ltd. 42,622       $ 365,345
Qantas Airways, Ltd. (I) 44,750 106,143
QBE Insurance Group, Ltd. 44,109 436,009
Ramsay Health Care, Ltd. 4,156 212,187
Santos, Ltd. 33,536 181,409
Scentre Group 188,799 536,347
Seek, Ltd. 11,910 154,422
Sonic Healthcare, Ltd. 13,653 212,111
Stockland 87,432 298,719
Suncorp Group, Ltd. 47,614 488,262
Sydney Airport 27,261 107,277
Tabcorp Holdings, Ltd. 2,794 10,067
Tabcorp Holdings, Ltd. 33,525 120,790
Tatts Group, Ltd. 55,809 168,843
Telstra Corp., Ltd. 147,901 709,992
The GPT Group 50,956 176,988
Toll Holdings, Ltd. 25,442 171,175
Transurban Group 59,523 430,998
Treasury Wine Estates, Ltd. 24,526 95,294
Wesfarmers, Ltd. 40,454 1,350,916
Westfield Corp. (I) 69,727 505,319
Westpac Banking Corp. 112,251 3,355,299
Woodside Petroleum, Ltd. 23,280 609,911
Woolworths, Ltd. 44,313 992,344
WorleyParsons, Ltd. 7,028 50,863
34,364,741
Austria - 0.1%
ANDRITZ AG 2,752 164,313
Erste Group Bank AG 8,613 211,743
Immofinanz AG 24,655 72,613
OMV AG 5,543 152,052
Raiffeisen Bank International AG (L) 2,225 30,921
Vienna Insurance Group AG Wiener
       Versicherung Gruppe 1,321 58,489
voestalpine AG 4,357 159,379
849,510
Belgium - 1.0%
Ageas 7,799 280,082
Anheuser-Busch InBev NV 27,996 3,420,136
Belgacom SA 5,996 209,789
Colruyt SA 2,769 120,514
Delhaize Group SA 3,906 350,914
Groupe Bruxelles Lambert SA 3,135 259,919
KBC Groep NV 9,550 590,210
Solvay SA 2,305 333,187
Telenet Group Holding NV 2,144 117,974
UCB SA 3,593 259,561
Umicore SA 4,660 194,625
6,136,911
Bermuda - 0.0%
Seadrill, Ltd. 13,637 127,691
127,691
Brazil - 1.0%
Ambev SA 161,130 931,475
Banco Bradesco SA 28,248 266,677
Banco do Brasil SA 29,813 214,008
Banco Santander SA, ADR 20,914 171,687
BB Seguridade Participacoes SA 24,400 250,762
BM&FBovespa SA 65,076 227,553
BR Malls Participacoes SA 15,410 81,793
Braskem SA, ADR (L) 1,584 10,993
BRF SA 23,920 474,420
CCR SA 32,600 166,496
Centrais Eletricas Brasileiras SA 6,700 12,092
Centrais Eletricas Brasileiras SA, ADR 2,381 4,310
Centrais Eletricas Brasileiras SA, ADR 1,429 3,001
CETIP SA - Mercados Organizados 8,211 81,941
Cia Brasileira de Distribuicao, ADR 628 18,727
Cia de Saneamento Basico do Estado de
       Sao Paulo 12,870 71,416
Cia Siderurgica Nacional SA 16,100 27,392
Cia Siderurgica Nacional SA, ADR (L) 11,800 19,824
Cielo SA 26,100 373,646
Cosan SA Industria e Comercio 4,911 42,916
CPFL Energia SA 9,500 60,901
Cyrela Brazil Realty SA Empreendimentos
       e Participacoes 11,600 48,158
Duratex SA 12,463 33,973
EcoRodovias Infraestrutura E Logistica SA 7,200 20,281
EDP - Energias do Brasil SA 8,700 28,214
Embraer SA 10,800 83,076
Embraer SA, ADR 2,626 80,750
Estacio Participacoes SA 10,300 59,834
Fibria Celulose SA (I) 3,172 44,923
Fibria Celulose SA, ADR (I)(L) 6,862 96,960
Hypermarcas SA 13,608 83,996
JBS SA 15,473 68,843
Klabin SA 17,800 101,506
Kroton Educacional SA 47,780 154,049
Localiza Rent a Car SA 5,576 63,420
Lojas Renner SA 4,700 133,686
Multiplan Empreendimentos Imobiliarios SA 3,152 55,355
Natura Cosmeticos SA 6,500 54,785
Odontoprev SA 11,500 39,167
Oi SA, ADR (I) 1,158 1,783
Petroleo Brasileiro SA 107,029 321,266
Porto Seguro SA 4,419 49,499
Raia Drogasil SA 8,100 72,687
Souza Cruz SA 14,400 114,603
Sul America SA 6,310 28,095
Telefonica Brasil SA, ADR 6,017 92,000
Tim Participacoes SA 32,920 109,749
Totvs SA 4,500 51,464
Tractebel Energia SA 6,400 70,787
Ultrapar Participacoes SA 12,100 245,787
Usinas Siderurgicas de Minas
       Gerais SA, ADR (I) 800 1,260
Vale SA 47,000 264,191
WEG SA 10,530 104,919
6,291,096
Canada - 6.4%
Agnico Eagle Mines, Ltd. 6,800 188,932
Agrium, Inc. (L) 5,500 573,211
Alimentation Couche-Tard, Inc., Class B 14,500 577,802
AltaGas, Ltd. 4,300 143,475
ARC Resources, Ltd. (L) 11,900 204,448
Atco, Ltd., Class I 2,800 99,748
Bank of Montreal (L) 22,500 1,348,348
Barrick Gold Corp. 38,540 421,443
Baytex Energy Corp. (L) 4,700 74,329
BCE, Inc. (L) 10,024 424,371
BlackBerry, Ltd. (I) 19,900 177,388
Bombardier, Inc., Class B (L) 49,200 97,114
Brookfield Asset Management, Inc., Class A 20,299 1,085,669

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

International Equity Index Trust B (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Canada (continued)
CAE, Inc. 11,300       $ 131,865
Cameco Corp. 16,400 228,542
Canadian Imperial Bank of Commerce (L) 13,700 993,197
Canadian National Railway Company 29,000 1,942,110
Canadian Natural Resources, Ltd. 38,960 1,194,131
Canadian Oil Sands, Ltd. 19,100 148,541
Canadian Pacific Railway, Ltd. 6,100 1,116,884
Canadian Tire Corp., Ltd., Class A 3,000 305,626
Canadian Utilities, Ltd., Class A 4,800 150,721
Cenovus Energy, Inc. 26,800 451,763
CGI Group, Inc., Class A (I) 7,100 301,142
CI Financial Corp. (L) 7,800 218,071
Constellation Software, Inc. 600 207,379
Crescent Point Energy Corp. (L) 13,800 307,696
Dollarama, Inc. 5,200 290,679
Eldorado Gold Corp. 25,100 115,140
Empire Company, Ltd. 1,900 132,477
Enbridge, Inc. 28,700 1,383,392
Encana Corp. 24,900 277,988
Enerplus Corp. 7,700 78,061
Fairfax Financial Holdings, Ltd. 800 448,462
Finning International, Inc. 7,200 133,932
First Capital Realty, Inc. 4,700 73,215
First Quantum Minerals, Ltd. 20,554 249,105
Fortis, Inc. (L) 9,400 286,331
Franco-Nevada Corp. 5,900 285,928
George Weston, Ltd. 2,100 166,335
Gildan Activewear, Inc. 10,000 294,817
Goldcorp, Inc. 27,984 506,410
Great-West Lifeco, Inc. (L) 11,700 338,284
H&R Real Estate Investment Trust 4,300 79,207
Husky Energy, Inc. (L) 13,800 281,655
IGM Financial, Inc. (L) 3,300 117,274
Imperial Oil, Ltd. 11,330 452,198
Industrial Alliance Insurance &
       Financial Services, Inc. 3,100 103,705
Intact Financial Corp. 5,000 376,693
Inter Pipeline, Ltd. (L) 11,200 288,633
Keyera Corp. 2,900 192,906
Kinross Gold Corp. (I) 43,729 97,018
Loblaw Companies, Ltd. 7,840 383,288
Magna International, Inc. 15,800 844,671
Manulife Financial Corp. (O) 63,400 1,076,731
MEG Energy Corp. (I) 6,100 98,540
Methanex Corp. (L) 3,500 187,387
Metro, Inc. 11,400 308,908
National Bank of Canada 11,800 430,802
New Gold, Inc. (I) 18,000 60,400
Onex Corp. 3,500 203,249
Open Text Corp. 4,800 253,388
Paramount Resources, Ltd., Class A (I) 2,000 49,268
Pembina Pipeline Corp. (L) 11,700 369,692
Peyto Exploration & Development Corp. 5,200 139,428
Potash Corp. of Saskatchewan, Inc. 30,800 992,905
Power Corp. of Canada 12,000 317,587
Power Financial Corp. (L) 10,400 307,841
PrairieSky Royalty, Ltd. 4,500 106,162
Restaurant Brands International, Inc. 6,646 254,810
RioCan Real Estate Investment Trust 5,300 121,228
Rogers Communications, Inc., Class B (L) 14,100 472,022
Royal Bank of Canada 50,700 3,051,887
Saputo, Inc. 10,600 291,332
Shaw Communications, Inc., Class B 14,600 327,608
Silver Wheaton Corp. 13,900 264,051
SNC-Lavalin Group, Inc. 4,900 152,159
Sun Life Financial, Inc. (L) 21,500 662,544
Suncor Energy, Inc. 51,787 1,513,274
Talisman Energy, Inc. 39,600 303,593
Teck Resources, Ltd., Class B 19,761 271,167
Telus Corp. 7,600 252,443
The Bank of Nova Scotia 42,000 2,107,047
The Toronto-Dominion (L) 64,700 2,769,245
Tourmaline Oil Corp. (I) 5,900 178,554
TransAlta Corp. (L) 10,400 96,483
TransCanada Corp. (L) 24,200 1,034,836
Turquoise Hill Resources, Ltd. (I) 33,720 105,163
Vermilion Energy, Inc. (L) 4,000 168,173
West Fraser Timber Company, Ltd. 2,400 122,790
Yamana Gold, Inc. 29,844 106,977
40,921,424
Chile - 0.3%
Banco Santander Chile, ADR 13,061 283,162
Cencosud SA 61,383 145,471
Cia Cervecerias Unidas SA, ADR (L) 6,197 128,650
Corpbanca SA, ADR (L) 2,999 47,894
Empresa Nacional de Electricidad SA. ADR 6,770 304,989
Enersis SA, ADR 26,429 429,736
Latam Airlines Group SA, ADR (L) 11,197 90,248
Sociedad Quimica y Minera de Chile SA, ADR 4,454 81,286
Vina Concha y Toro SA, ADR 2,105 86,894
1,598,330
China - 3.6%
AAC Technologies Holdings, Inc. 27,342 168,800
Agricultural Bank of China, Ltd., H Shares 807,000 399,539
Air China, Ltd., H Shares 84,534 86,245
Aluminum Corp. of China, Ltd., H Shares (I) 185,220 92,417
Anhui Conch Cement Company, Ltd., H Shares 56,790 214,453
ANTA Sports Products, Ltd. 17,000 31,043
Bank of China, Ltd., H Shares 2,759,563 1,595,237
Bank of Communications Company, Ltd.,
       H Shares 337,527 290,087
BBMG Corp., H Shares 22,000 20,326
Beijing Capital International Airport
       Company, Ltd., H Shares 52,789 51,551
Byd Company, Ltd., H Shares 24,105 123,888
China Cinda Asset Management
       Company, Ltd., H Shares (I) 149,000 73,799
China CITIC Bank Corp., Ltd., H Shares 310,800 234,311
China Coal Energy Company, Ltd.,
       H Shares (L) 179,000 98,754
China Communications Construction
       Company, Ltd., H Shares 200,335 282,282
China Communications Services Corp., Ltd.,
       H Shares 129,600 57,487
China Construction Bank Corp., H Shares 2,567,914 2,131,336
China Cosco Holdings Company, Ltd.,
       H Shares (I)(L) 115,631 60,908
China Life Insurance Company, Ltd., H Shares 258,624 1,136,848
China Longyuan Power Group Corp., Ltd.,
       H Shares 99,000 107,602
China Medical System Holdings, Ltd. 37,300 57,448
China Mengniu Dairy Company, Ltd. 44,502 237,047
China Merchants Bank Company, Ltd.,
       H Shares 159,323 389,009
China Minsheng Banking Corp., Ltd., H Shares 253,080 308,628

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

International Equity Index Trust B (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
China (continued)
China National Building Material
       Company, Ltd., H Shares 116,000       $ 115,395
China Oilfield Services, Ltd., H Shares 56,000 93,248
China Pacific Insurance Group Company, Ltd.,
       H Shares 103,500 492,313
China Petroleum & Chemical Corp., H Shares 881,361 702,368
China Railway Construction Corp., Ltd.,
       H Shares 113,000 168,463
China Railway Group, Ltd., H Shares 179,000 183,079
China Shenhua Energy Company, Ltd.,
       H Shares 127,500 325,214
China Shipping Container Lines Company, Ltd.,
       H Shares (I) 145,123 46,075
China Telecom Corp., Ltd., H Shares 481,604 307,895
CITIC Securities Company, Ltd., H Shares 11,000 40,858
CNOOC, Ltd. 621,258 876,797
Country Garden Holdings Company, Ltd. 237,574 95,823
CSPC Pharmaceutical Group, Ltd. 62,000 52,461
CSR Corp., Ltd., H Shares 91,000 120,196
Datang International Power Generation
       Company, Ltd., H Shares 92,864 47,373
Dongfeng Motor Group Company, Ltd.,
       H Shares 123,220 197,083
ENN Energy Holdings, Ltd. 26,000 159,650
Evergrande Real Estate Group, Ltd. 232,959 117,429
Fosun International, Ltd. 60,000 116,090
Geely Automobile Holdings Ltd. 75,000 38,527
GOME Electrical Appliances Holding, Ltd. 386,127 55,622
Great Wall Motor Company, Ltd., H Shares 24,000 169,191
Guangzhou Automobile Group Company, Ltd.,
       H Shares 101,650 97,110
Guangzhou R&F Properties Company, Ltd.,
       H Shares 43,600 44,804
Hengan International Group Company, Ltd. 25,000 300,921
Huaneng Power International, Inc., H Shares 149,436 177,482
Industrial & Commercial Bank of China, Ltd.,
       H Shares 2,605,735 1,927,416
Jiangsu Expressway Company, Ltd., H Shares 81,145 108,963
Jiangxi Copper Company, Ltd., H Shares 54,075 100,504
Lenovo Group, Ltd. 217,436 316,850
Longfor Properties Company, Ltd. 53,600 75,952
New China Life Insurance Company, Ltd.,
       H Shares 24,900 138,636
PetroChina Company, Ltd., H Shares 734,261 815,396
PICC Property & Casualty Company, Ltd.,
       H Shares 126,242 249,245
Ping An Insurance Group Company of
       China, Ltd., H Shares 89,645 1,075,438
Semiconductor
       Manufacturing International Corp. (I) 839,000 81,494
Shandong Weigao Group Medical Polymer
       Company, Ltd., H Shares 80,000 70,491
Shanghai Electric Group Company, Ltd.,
       H Shares 144,864 96,048
Shui On Land, Ltd. 188,275 44,437
Sino-Ocean Land Holdings, Ltd. 177,213 107,202
Sinopec Shanghai Petrochemical
       Company, Ltd., H Shares 269,901 100,609
Sinopharm Group Company, Ltd., H Shares 30,000 122,156
SOHO China, Ltd. 140,000 95,353
Sun Art Retail Group, Ltd. (L) 86,000 74,912
Tencent Holdings, Ltd. 181,000 3,437,175
Tingyi Cayman Islands Holding Corp. 76,000 163,628
Tsingtao Brewery Company, Ltd., H Shares 12,000 80,465
Want Want China Holdings, Ltd. 243,000 258,593
Weichai Power Company, Ltd., H Shares 19,680 75,877
Yangzijiang Shipbuilding Holdings, Ltd. 65,000 59,760
Yanzhou Coal Mining Company, Ltd.,
       H Shares (L) 85,990 73,018
Zhejiang Expressway Company, Ltd., H Shares 103,718 137,291
Zijin Mining Group Company, Ltd., H Shares 285,469 90,384
ZTE Corp., H Shares 40,406 92,696
23,460,501
Colombia - 0.1%
BanColombia SA, SADR (L) 18,325 720,722
Ecopetrol SA, ADR (L) 8,500 129,370
850,092
Czech Republic - 0.1%
CEZ AS 6,817 166,635
Komercni Banka AS 688 148,401
O2 Czech Republic AS 2,389 19,116
334,152
Denmark - 1.2%
A P Moller- Maersk A/S, Class A 120 243,678
AP Moeller - Maersk A/S, Class B (L) 245 512,106
Carlsberg A/S, Class B 4,179 344,585
Coloplast A/S, Class B 4,165 314,646
Danske Bank A/S 24,066 634,456
DSV A/S, ADR 7,635 237,287
ISS A/S (I) 3,189 100,517
Novo Nordisk A/S, Class B 69,778 3,725,014
Novozymes A/S, B Shares 8,960 409,015
Pandora A/S 4,127 375,743
TDC A/S 18,200 130,402
Tryg A/S 900 105,848
Vestas Wind Systems A/S (I) 8,020 330,672
William Demant Holding A/S (I) 1,000 84,914
7,548,883
Egypt - 0.0%
Commercial International Bank Egypt SAE 9,837 73,172
Global Telecom Holding SAE (I) 23,717 10,277
Telecom Egypt Company 4,467 6,518
89,967
Finland - 0.6%
Elisa OYJ (L) 6,060 152,188
Fortum OYJ (L) 16,798 351,920
Kone OYJ 11,934 529,155
Metso OYJ (L) 4,686 136,909
Neste Oil OYJ (L) 4,388 115,140
Nokia OYJ 130,416 994,387
Nokian Renkaat OYJ 3,680 109,670
Orion OYJ, Class B (L) 2,574 72,555
Sampo OYJ, A Shares 15,692 791,476
Stora Enso OYJ, Series R 20,482 210,596
UPM-Kymmene OYJ 19,972 387,993
Wartsila OYJ Abp 6,451 285,329
4,137,318
France - 6.8%
Accor SA 5,695 296,971
Aeroports de Paris 1,056 126,217
Air Liquide SA 11,963 1,540,103
Airbus Group NV 20,438 1,328,688

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

International Equity Index Trust B (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
France (continued)  
Alcatel-Lucent (I) 102,269       $ 384,475
Alstom SA (I) 8,387 258,077
Arkema SA 2,554 202,265
AtoS 2,022 139,186
AXA SA 63,672 1,602,566
BNP Paribas SA 36,324 2,210,162
Bollore SA 19,500 103,900
Bouygues SA 6,726 264,033
Bureau Veritas SA 8,832 189,488
Cap Gemini SA 5,485 449,996
Carrefour SA 21,189 707,857
Casino Guichard Perrachon SA 2,363 209,234
Christian Dior SE 2,157 405,984
Cie de Saint-Gobain 14,568 639,639
Cie Generale des Etablissements Michelin 6,997 695,814
CNP Assurances 6,491 113,765
Credit Agricole SA 37,788 555,291
Danone SA 19,789 1,333,928
Dassault Systemes 4,818 326,054
Edenred 6,590 164,419
Electricite de France SA 9,425 225,994
Essilor International SA 7,090 814,036
Eurazeo SA 1,380 94,575
Eutelsat Communications SA 5,923 196,473
Fonciere Des Regions 1,157 114,570
GDF Suez 49,010 967,602
Gecina SA 1,027 138,902
Groupe Eurotunnel SE 16,415 235,325
Hermes International 908 320,600
ICADE 923 83,388
Iliad SA 983 229,549
Imerys SA 1,144 83,939
JCDecaux SA 2,889 97,284
Kering 2,659 519,085
Klepierre 7,623 374,335
L’Oreal SA 8,654 1,593,980
Lafarge SA 6,842 444,801
Lagardere SCA 4,134 124,249
Legrand SA, ADR 9,501 514,646
LVMH Moet Hennessy Louis Vuitton SE 9,270 1,631,357
Natixis SA, ADR 36,204 271,188
Numericable-SFR SAS (I) 3,352 182,945
Orange SA 67,652 1,086,457
Pernod Ricard SA 7,456 881,607
Peugeot SA (I) 13,635 227,916
Publicis Groupe SA 6,738 519,879
Remy Cointreau SA 873 64,296
Renault SA 6,573 597,023
Rexel SA 9,600 181,015
Safran SA 9,200 642,816
Sanofi 41,230 4,071,820
Schneider Electric SE 18,034 1,403,378
Schneider Electric SE 623 48,274
SCOR SE 6,688 225,570
Societe BIC SA 1,262 179,659
Societe Generale SA 25,543 1,233,263
Sodexo SA 3,571 348,290
Suez Environnement Company 10,572 182,012
Technip SA 3,838 232,151
Thales SA 3,128 173,548
Total SA 75,310 3,743,420
Unibail-Rodamco SE (L) 3,559 961,055
Valeo SA 2,773 413,606
Vallourec SA 3,769 91,992
Veolia Environnement SA 13,522 255,749
Vinci SA 16,793 959,443
Vivendi SA 44,204 1,097,483
Wendel SA, ADR 1,458 173,786
Zodiac Aerospace 6,450 213,408
43,715,851
Germany - 6.2%
adidas AG 7,272 574,219
Allianz SE 16,123 2,799,209
Axel Springer SE 942 55,598
BASF SE 32,440 3,211,403
Bayer AG 28,743 4,300,392
Bayerische Motoren Werke AG 11,361 1,414,838
Beiersdorf AG 3,496 303,135
Brenntag AG 5,628 336,241
Celesio AG 2,960 87,408
Commerzbank AG (I) 37,619 516,928
Continental AG 4,045 952,579
Daimler AG (L) 34,006 3,265,744
Deutsche Annington Immobilien SE 11,870 399,989
Deutsche Bank AG 49,093 1,701,445
Deutsche Boerse AG 6,708 547,431
Deutsche Lufthansa AG 9,293 130,126
Deutsche Post AG 32,401 1,009,446
Deutsche Telekom AG 107,215 1,961,000
Deutsche Wohnen AG 9,964 254,846
E.ON SE 64,361 956,975
Fraport Ag Frankfurt Airport
       Services Worldwide 1,295 77,352
Fresenius Medical Care AG & Company KGaA 7,543 626,985
Fresenius SE & Company KGa 13,818 823,777
GEA Group AG 6,518 313,328
Hannover Rueck SE 2,242 231,675
HeidelbergCement AG 5,140 406,481
Henkel AG & Company KGaA 3,877 400,077
Hugo Boss AG 1,333 161,948
Infineon Technologies AG 39,273 467,226
K+S AG 6,360 207,221
Kabel Deutschland Holding AG (I) 825 107,091
Lanxess AG 2,990 159,023
Linde AG 6,366 1,294,517
Man SE 2,251 236,960
Merck KGaA 4,708 526,907
Metro AG 4,547 154,096
Muenchener Rueckversicherungs AG 6,011 1,291,652
Osram Licht AG 2,942 145,637
ProSiebenSat.1 Media AG 6,832 334,172
RWE AG 18,018 458,735
SAP SE 31,817 2,299,640
Siemens AG 28,005 3,028,845
Symrise AG 4,236 267,094
Telefonica Deutschland Holding AG 25,984 149,419
ThyssenKrupp AG 13,959 365,448
TUI AG 15,577 273,283
United Internet AG 3,568 161,948
Volkswagen AG 1,068 274,605
40,024,094
Greece - 0.1%
Alpha Bank AE (I) 132,914 39,371
Eurobank Ergasias SA (I) 280,674 31,672

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

International Equity Index Trust B (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Greece (continued)
Hellenic
       Telecommunications Organization SA (I) 8,503       $ 75,311
National Bank of Greece SA (I) 56,908 67,981
OPAP SA 8,113 75,723
Piraeus Bank SA (I) 74,373 28,704
318,762
Guernsey, Channel Islands - 0.0%
Friends Life Group, Ltd. 48,902 299,378
299,378
Hong Kong - 3.2%
AIA Group, Ltd. 416,800 2,616,873
ASM Pacific Technology, Ltd. 6,500 67,656
Beijing Enterprises Holdings, Ltd. 19,786 155,447
Belle International Holdings, Ltd. 185,860 216,959
BOC Hong Kong Holdings, Ltd. 143,328 511,174
Brilliance China Automotive Holdings, Ltd. 94,000 180,960
Cathay Pacific Airways, Ltd. 31,782 73,544
Cheung Kong Infrastructure Holdings, Ltd. 18,772 161,229
China Agri-Industries Holdings, Ltd. 144,580 56,007
China Everbright International, Ltd. 86,000 144,239
China Everbright, Ltd. 56,216 146,511
China Gas Holdings, Ltd. 74,000 121,084
China Merchants Holdings
       International Company, Ltd. 57,650 225,919
China Mobile, Ltd. 213,530 2,782,807
China Overseas Land & Investment, Ltd. 142,882 461,423
China Resources Enterprise, Ltd. 49,145 96,356
China Resources Gas Group, Ltd. 18,000 56,002
China Resources Land, Ltd. 110,964 313,607
China Resources Power
       Holdings Company, Ltd. 67,867 170,203
China State Construction
       International Holdings, Ltd. 42,000 58,474
China Taiping Insurance
       Holdings Company, Ltd. (I) 60,500 206,379
China Unicom Hong Kong, Ltd. 165,982 252,673
CITIC, Ltd. 43,967 75,253
CK Hutchison Holdings, Ltd. 49,000 1,001,096
CLP Holdings, Ltd. 64,900 567,234
COSCO Pacific, Ltd. 88,157 115,476
First Pacific Company, Ltd. 92,250 92,029
Franshion Properties China, Ltd. 74,000 22,441
Galaxy Entertainment Group, Ltd. 78,000 354,147
GCL-Poly Energy Holdings, Ltd. (I) 161,000 42,625
Guangdong Investment, Ltd. 99,220 130,114
Hanergy Thin Film Power Group, Ltd. (I) 428,695 386,015
Hang Lung Properties, Ltd. 88,326 248,152
Hang Seng Bank, Ltd. 27,019 489,013
Henderson Land Development Company, Ltd. 36,989 259,850
HKT Trust & HKT, Ltd. 127,233 163,876
Hong Kong & China Gas Company, Ltd. 222,989 516,342
Hong Kong Exchanges and Clearing Ltd. 38,972 955,292
Hutchison Whampoa, Ltd. 74,800 1,036,792
Hysan Development Company, Ltd. 24,415 107,018
Kerry Properties, Ltd. 21,438 74,417
Kingboard Chemical Holdings, Ltd. 29,732 47,053
Kunlun Energy Company, Ltd. 118,000 114,608
Lee & Man Paper Manufacturing, Ltd. 36,000 17,412
Li & Fung Ltd. 211,600 206,629
MTR Corp., Ltd. 50,281 239,152
New World Development Company, Ltd. 132,978 154,167
Nine Dragons Paper Holdings, Ltd. 81,000 50,650
Noble Group, Ltd. 116,038 77,727
NWS Holdings, Ltd. 52,389 87,259
PCCW, Ltd. 181,876 111,140
Power Assets Holdings Ltd 49,082 501,021
Shanghai Industrial Holdings, Ltd. 33,930 104,589
Shangri-La Asia, Ltd. 70,102 96,275
Shimao Property Holdings, Ltd. 64,000 134,291
Sino Land Company, Ltd. 132,430 215,945
SJM Holdings, Ltd. 83,000 108,404
Sun Hung Kai Properties, Ltd. 57,130 880,915
Swire Pacific, Ltd. 22,163 301,693
Swire Properties Ltd. 43,628 141,697
Techtronic Industries Company, Ltd. 49,000 165,199
The Bank of East Asia, Ltd. 48,727 194,103
The Link, REIT 86,244 532,055
WH Group, Ltd. (I)(S) 125,803 71,458
Wharf Holdings, Ltd. 56,876 397,043
Wheelock & Company, Ltd. 35,000 178,853
Yue Yuen Industrial Holdings, Ltd. 20,067 71,006
20,913,052
Hungary - 0.0%
MOL Hungarian Oil & Gas PLC 1,549 67,071
OTP Bank PLC 9,034 170,549
237,620
India - 1.4%
Dr. Reddy’s Laboratories, Ltd., ADR 6,254 357,103
Gail India, Ltd., GDR 2,500 92,540
ICICI Bank, Ltd., ADR 151,330 1,567,779
Infosys, Ltd., ADR (L) 85,174 2,987,904
Larsen & Toubro, Ltd., GDR (S) 18,019 495,139
Mahindra & Mahindra, Ltd., SGDR 6,560 125,250
Reliance Capital, Ltd., GDR (L)(S) 4,327 29,354
Reliance Communication, Ltd., GDR (S) 75,892 71,855
Reliance Industries, Ltd., SGDR (S) 57,120 1,508,042
Reliance Infrastructure, Ltd., GDR (S) 1,788 37,182
Sesa Sterlite, Ltd., ADR 7,500 93,000
State Bank of India, GDR 5,224 220,974
Tata Motors, Ltd., ADR 17,219 775,888
Tata Steel, Ltd., GDR 11,000 56,293
Ultratech Cement, Ltd., GDR 1,026 47,182
Wipro Ltd., ADR (L) 43,749 582,737
9,048,222
Indonesia - 0.6%
Adaro Energy Tbk PT 315,000 22,829
Astra Agro Lestari Tbk PT 17,500 32,483
Astra International Tbk PT 805,000 527,251
Bank Central Asia Tbk PT 428,500 485,641
Bank Danamon Indonesia Tbk PT 200,286 78,467
Bank Mandiri Persero Tbk PT 357,837 341,258
Bank Negara Indonesia Persero Tbk PT 276,500 152,651
Bank Rakyat Indonesia Persero Tbk PT 386,000 391,526
Berlian Laju Tanker Tbk PT (I) 128,000 0
Charoen Pokphand Indonesia Tbk PT 276,000 74,798
Gudang Garam Tbk PT 26,000 101,373
Indo Tambangraya Megah Tbk PT 16,000 20,625
Indocement Tunggal Prakarsa Tbk PT 53,500 89,605
Indofood Sukses Makmur Tbk PT 253,500 144,359
Kalbe Farma Tbk PT 855,000 121,991
Perusahaan Gas Negara Persero Tbk PT 480,500 176,117
Semen Indonesia Persero Tbk PT 111,000 115,727
Tambang Batubara Bukit Asam Persero Tbk PT 36,500 29,926

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

International Equity Index Trust B (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Indonesia (continued)
Telekomunikasi Indonesia Persero Tbk PT 1,932,500       $ 426,108
Telekomunikasi Indonesia Persero Tbk
       PT, ADR 179 7,794
Unilever Indonesia Tbk PT 66,500 201,455
United Tractors Tbk PT 92,779 154,399
3,696,383
Ireland - 0.6%
Bank of Ireland (I) 853,257 325,557
CRH PLC 26,991 705,888
Experian PLC 34,164 565,515
Irish Bank Resolution Corp., Ltd (I) 38,483 0
James Hardie Industries PLC 16,532 191,239
Kerry Group PLC 5,738 385,710
Ryanair Holdings PLC, SADR 1,921 128,265
Shire PLC 20,309 1,619,090
3,921,264
Israel - 0.4%
Bank Hapoalim BM 44,835 215,583
Bank Leumi Le-Israel Bm (I) 54,437 201,867
Bezeq The
       Israeli Telecommunication Corp., Ltd. 65,229 121,466
Delek Group, Ltd. 86 22,132
Israel Chemicals, Ltd. 16,931 120,249
Israel Corp., Ltd. 58 20,202
Mizrahi Tefahot Bank, Ltd. 5,543 56,249
NICE Systems, Ltd. 2,975 181,590
Teva Pharmaceutical Industries, Ltd. 29,726 1,857,794
2,797,132
Italy - 1.5%
Assicurazioni Generali SpA 40,662 799,500
Atlantia SpA 11,994 314,965
Banca Monte dei Paschi di Siena SpA (I)(L) 138,412 91,862
Banco Popolare SC (I) 12,613 196,348
Enel Green Power SpA 77,743 144,964
Enel SpA 229,224 1,035,498
Eni SpA 88,590 1,533,322
Exor SpA 3,038 137,804
Finmeccanica SpA (I) 17,213 204,458
Intesa Sanpaolo SpA 426,417 1,447,255
Intesa Sanpaolo SpA 42,950 133,396
Luxottica Group SpA 6,760 428,148
Mediobanca SpA 18,489 176,893
Pirelli & C. SpA 10,659 176,435
Prysmian SpA 7,382 152,142
Saipem SpA (I)(L) 10,004 101,760
Snam SpA 62,699 304,348
Telecom Italia SpA (I) 379,537 444,399
Telecom Italia SpA 233,394 219,463
Terna Rete Elettrica Nazionale SpA 43,861 193,139
UniCredit SpA 157,251 1,066,361
Unione Di Banche Italiane SCPA 27,462 214,178
9,516,638
Japan - 15.8%
ABC-Mart, Inc. 700 40,940
Acom Company, Ltd. (I)(L) 22,800 79,064
Advantest Corp. 6,000 75,645
Aeon Company, Ltd. 22,200 243,521
AEON Financial Service Company, Ltd 2,100 52,975
Aeon Mall Company, Ltd. 3,300 65,350
Air Water, Inc. 5,000 89,289
Aisin Seiki Company, Ltd. 6,300 228,409
Ajinomoto Company, Inc. 20,000 438,769
Alfresa Holdings Corp. 5,200 73,275
Amada Company, Ltd. 12,000 115,568
ANA Holdings, Inc. 54,000 144,567
Aozora Bank, Ltd. 49,000 173,683
Asahi Glass Company, Ltd. 41,000 268,550
Asahi Group Holdings, Ltd. 14,700 466,114
Asahi Kasei Corp. 46,000 439,283
Asics Corp. 5,900 160,553
Astellas Pharma, Inc. 75,100 1,230,506
Bandai Namco Holdings, Inc. 6,199 120,657
Benesse Holdings, Inc. 2,400 75,499
Bridgestone Corp. 22,100 884,882
Brother Industries, Ltd. 9,200 146,168
Calbee, Inc. 3,600 156,284
Canon, Inc. 39,400 1,394,023
Casio Computer Company, Ltd. (L) 6,700 126,909
Central Japan Railway Company 5,000 903,598
Chiyoda Corp. 6,000 51,256
Chubu Electric Power Company, Inc. 21,100 251,595
Chugai Pharmaceutical Company, Ltd. 8,600 271,424
Citizen Holdings Company, Ltd. 8,800 67,447
Credit Saison Company, Ltd. 5,000 89,694
Dai Nippon Printing Comapany, Ltd. 22,000 213,689
Daicel Corp. 12,534 149,399
Daihatsu Motor Company, Ltd. 8,000 122,365
Daiichi Sankyo Company, Ltd. 21,400 340,065
Daikin Industries Ltd. 8,500 568,259
Daito Trust Construction Company, Ltd. 2,600 290,331
Daiwa House Industry Company, Ltd. 19,000 374,495
Daiwa Securities Group, Inc. 60,900 479,398
Denso Corp. 17,200 784,068
Dentsu, Inc. 7,600 325,117
Don Quijote Holdings Company, Ltd. 2,600 211,350
East Japan Railway Company 11,500 921,541
Eisai Company, Ltd. 9,300 661,489
Electric Power Development Company, Ltd. 4,600 154,961
FamilyMart Company, Ltd. 1,700 71,227
FANUC Corp. 6,800 1,484,534
Fast Retailing Company, Ltd. 1,800 695,985
Fuji Electric Company, Ltd. 17,000 80,206
Fuji Heavy Industries, Ltd. 21,000 697,121
FUJIFILM Holdings Corp. 15,600 554,994
Fujitsu, Ltd. 70,000 477,375
Fukuoka Financial Group, Inc. 29,000 149,132
GungHo Online Entertainment, Inc. (L) 13,000 50,784
Hakuhodo DY Holdings, Inc. 9,900 105,250
Hamamatsu Photonics KK 5,400 162,768
Hankyu Hanshin Holdings, Inc. 43,000 265,628
Hino Motors, Ltd. 10,000 142,286
Hirose Electric Company, Ltd. 1,365 175,745
Hisamitsu Pharmaceutical Company, Inc. 2,400 98,571
Hitachi Chemical Company, Ltd. 3,700 79,008
Hitachi Construction Machinery Company, Ltd. 4,100 71,570
Hitachi High-Technologies Corp. 3,200 97,384
Hitachi Metals, Ltd. 5,000 76,633
Hitachi, Ltd. 166,000 1,133,756
Hokuhoku Financial Group, Inc. 53,000 118,141
Hokuriku Electric Power Company 6,300 83,365
Honda Motor Company, Ltd. 57,000 1,860,648
Hoya Corp. 16,000 640,549
Hulic Company, Ltd. 9,000 101,124
Ibiden Copany, Ltd. 4,400 74,174

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

International Equity Index Trust B (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Japan (continued)
Idemitsu Kosan Company, Ltd. 2,800       $ 48,765
IHI Corp. 44,000 205,732
Inpex Holdings, Inc. 31,000 341,583
Isetan Mitsukoshi Holdings, Ltd. 12,219 201,892
Isuzu Motors, Ltd. 23,000 305,152
ITOCHU Corp. 53,200 575,724
Itochu Techno-Solutions Corp. 1,600 33,191
J Front Retailing Company, Ltd. 9,000 141,288
Japan Airlines Company, Ltd. 4,000 124,429
Japan Exchange Group, Inc. 10,000 289,528
Japan Prime Realty Investment Corp. 28 96,422
Japan Real Estate Investment Corp. 42 197,551
Japan Retail Fund Investment Corp. 75 149,031
Japan Tobacco, Inc. 38,300 1,210,849
JFE Holdings, Inc. 18,400 406,145
JGC Corp. 7,000 139,003
JSR Corp. 6,500 112,562
JTEKT Corp. 7,300 113,818
JX Holdings, Inc. 84,911 326,708
Kajima Corp. 33,000 152,995
Kakaku.com, Inc. 5,000 82,969
Kamigumi Company, Ltd. 9,000 84,962
Kaneka Corp. 11,829 83,164
Kansai Electric Power Company, Inc. (I) 24,500 233,507
Kansai Paint Company, Ltd. 7,000 127,398
Kao Corp. 17,500 873,846
Kawasaki Heavy Industries, Ltd. 50,000 252,251
KDDI Corp. 59,400 1,341,996
Keihan Electric Railway Company, Ltd. 17,000 103,459
Keikyu Corp. 18,000 143,877
Keio Corp. 20,000 156,641
Keisei Electric Railway Company, Ltd. 8,000 99,292
Keyence Corp. 1,599 872,569
Kikkoman Corp. 5,000 158,546
Kintetsu Corp. 62,000 227,471
Kirin Holdings Company, Ltd. 27,500 360,697
Kobe Steel, Ltd. 105,000 193,664
Koito Manufacturing Company, Ltd. 4,000 120,275
Komatsu, Ltd. 31,700 621,405
Konami Corp. 3,700 69,220
Konica Minolta, Inc. 20,000 202,687
Kubota Corp. 40,000 631,956
Kuraray Company, Ltd. 13,200 178,725
Kurita Water Industries Ltd. 4,400 106,300
Kyocera Corp. 11,600 633,972
Kyowa Hakko Kirin Company, Ltd. 9,473 123,479
Kyushu Electric Power Company, Inc. (I) 16,300 157,926
Lawson, Inc. 2,100 145,572
Lixil Group Corp. 8,700 205,892
M3, Inc. 7,400 156,990
Mabuchi Motor Company, Ltd. 1,600 84,643
Makita Corp. 3,900 202,099
Marubeni Corp. 60,000 346,890
Marui Group Company, Ltd. 7,600 86,121
Maruichi Steel Tube, Ltd. 1,200 28,404
Mazda Motor Corp. 20,400 413,341
McDonald’s Holdings Company Japan, Ltd. 2,600 57,620
Medipal Holdings Corp. 5,490 71,557
MEIJI Holdings Company, Ltd. 2,500 304,525
Minebea Company, Ltd. 11,000 173,013
Miraca Holdings, Inc. 2,300 105,738
Mitsubishi Chemical Holdings Corp. 50,500 293,156
Mitsubishi Corp. 48,700 978,570
Mitsubishi Electric Corp. 67,000 795,389
Mitsubishi Estate Company, Ltd. 43,000 997,255
Mitsubishi Gas & Chemicals Company, Inc. 14,829 72,978
Mitsubishi Heavy Industries, Ltd. 112,000 616,255
Mitsubishi Logistics Corp. 5,943 92,492
Mitsubishi Materials Corp. 39,000 131,050
Mitsubishi Motors Corp. 17,000 153,285
Mitsubishi Tanabe Pharma Corp. 7,000 120,088
Mitsubishi UFJ Financial Group, Inc. 447,000 2,768,456
Mitsubishi UFJ Lease &
       Finance Company, Ltd. 17,600 86,976
Mitsui & Company, Ltd. 62,800 841,029
Mitsui Chemicals, Inc 25,000 80,170
Mitsui Fudosan Company, Ltd. 31,000 910,408
Mitsui OSK Lines, Ltd. 47,000 159,409
Mizuho Financial Group, Inc. 791,300 1,390,692
MS&AD Insurance Group Holdings, Inc. 17,100 478,732
Murata Manufacturing Company, Ltd. 6,900 947,641
Nabtesco Corp. 3,900 112,668
Nagoya Railroad Co Ltd. 30,000 119,792
NEC Corp. 95,000 279,055
Nexon Company, Ltd. 4,100 43,661
NGK Insulators, Ltd. 9,000 191,759
NGK Spark Plug Company, Ltd. 5,000 134,220
NH Foods, Ltd. 5,238 120,703
NHK Spring Company, Ltd. 4,600 47,854
Nidec Corp. 7,000 464,672
Nikon Corp. 13,700 183,697
Nintendo Company, Ltd. 4,000 586,900
Nippon Building Fund, Inc. 48 235,801
Nippon Electric Glass Company, Ltd. 14,000 68,420
Nippon Express Company, Ltd. 30,000 167,619
Nippon Paint Holdings Company, Ltd. 6,000 219,341
Nippon Prologis REIT, Inc. 60 132,082
Nippon Steel & Sumitomo Metal Corp. 269,000 676,375
Nippon Telegraph & Telephone Corp. 12,800 790,157
Nippon Yusen KK 55,000 158,220
Nissan Motor Company, Ltd. 84,600 860,429
Nisshin Seifun Group, Inc. 7,400 87,099
Nissin Foods Holdings Company, Ltd. 2,200 108,121
Nitori Holdings Company, Ltd. 2,100 142,156
Nitto Denko Corp. 6,000 400,644
NOK Corp. 3,800 114,257
Nomura Holdings, Inc. 125,400 736,554
Nomura Real Estate Holdings, Inc. 4,500 81,041
Nomura Research Institute, Ltd. 3,200 120,225
NSK, Ltd. 13,715 200,178
NTT Data Corp. 4,500 195,446
NTT DoCoMo, Inc. 55,200 964,677
NTT Urban Development Corp. 2,200 21,975
Obayashi Corp. 27,000 175,015
Odakyu Electric Railway Company, Ltd. 23,000 234,253
OJI Holdings Corp. 30,000 122,747
Olympus Corp. (I) 7,000 259,529
Omron Corp. 7,100 319,849
Ono Pharmaceutical Company, Ltd. 2,900 327,248
Oracle Corp. Japan 1,500 64,551
Orix Corp. 47,800 671,644
Osaka Gas Company, Ltd. 69,000 288,543
Otsuka Corp. 1,200 51,138
Otsuka Holdings Company, Ltd. 12,500 391,046
Panasonic Corp. 78,000 1,024,299
Park24 Company, Ltd. 5,000 102,299

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

International Equity Index Trust B (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Japan (continued)
Rakuten, Inc. 27,200       $ 478,942
Recruit Holdings Company, Ltd. (I) 5,000 156,007
Resona Holdings, Inc. 71,500 354,838
Ricoh Company, Ltd. 24,000 260,962
Rinnai Corp. 1,200 88,933
Rohm Company, Ltd. 3,800 259,665
Sankyo Company, Ltd. 1,900 67,481
Sanrio Company, Ltd. 1,700 45,412
Santen Pharmaceutical Company, Ltd. 14,000 204,202
SBI Holdings, Inc. 8,013 97,000
Secom Company, Ltd. 7,700 513,593
SEGA Sammy Holdings, Inc. 6,900 100,536
Seibu Holdings, Inc. (L) 4,000 103,328
Seiko Epson Corp. 9,400 166,487
Sekisui Chemical Company, Ltd. 17,000 220,575
Sekisui House, Ltd. 20,000 290,401
Seven & I Holdings Co Ltd. 26,100 1,096,807
Seven Bank Ltd. 20,400 100,587
Sharp Corp. (I)(L) 41,000 80,307
Shikoku Electric Power Company, Inc. (I) 6,400 78,770
Shimadzu Corp. 9,000 100,232
Shimamura Company, Ltd. 700 64,835
Shimano, Inc. 2,600 386,366
Shimizu Corp. 20,000 135,216
Shin-Etsu Chemical Company, Ltd. 14,600 953,206
Shinsei Bank, Ltd. 69,000 137,195
Shionogi & Company, Ltd. 9,500 316,260
Shiseido Company, Ltd. 14,200 251,909
Showa Shell Sekiyu KK 6,845 62,519
SMC Corp. 2,000 595,528
SoftBank Corp. 33,700 1,962,669
Sompo Japan Nipponkoa Holdings, Inc. 11,500 357,516
Sony Corp. 36,700 981,491
Sony Financial Holdings, Inc. 5,800 93,299
Stanley Electric Company, Ltd. 4,500 101,575
Sumitomo Chemical Company, Ltd. 49,000 251,490
Sumitomo Corp. 41,300 440,711
Sumitomo Dainippon Pharma Company, Ltd. 7,200 85,278
Sumitomo Electric Industries, Ltd. 26,500 347,374
Sumitomo Heavy Industries, Ltd. 20,010 130,952
Sumitomo Metal Mining Company, Ltd. 17,000 248,467
Sumitomo Mitsui Financial Group, Inc. 43,800 1,677,741
Sumitomo Mitsui Trust Holdings, Inc. 117,000 486,027
Sumitomo Realty &
       Development Company, Ltd. 13,000 468,018
Sumitomo Rubber Industries, Ltd. 7,100 130,877
Suntory Beverage & Food, Ltd. 5,000 214,096
Suruga Bank, Ltd. 6,000 124,600
Suzuken Company, Ltd. 2,640 80,470
Suzuki Motor Corp. 13,000 390,445
Sysmex Corp. 4,800 266,145
T&D Holdings, Inc. 23,300 320,051
Taiheiyo Cement Corp. 42,000 128,239
Taisei Corp. 37,000 208,839
Taisho Pharmaceutical Holdings Company, Ltd. 1,200 89,163
Takashimaya Company, Ltd. 11,181 109,838
Takeda Pharmaceutical Company, Ltd. 27,100 1,352,775
TDK Corp. 4,900 346,957
Teijin, Ltd. 32,000 108,570
Terumo Corp. 11,800 310,847
The Bank of Kyoto, Ltd. 13,000 136,252
The Bank of Yokohama, Ltd. 44,000 257,692
The Chiba Bank, Ltd. 31,000 227,201
The Chugoku Bank, Ltd. 6,000 89,592
The Chugoku Electric Power Company, Inc. 12,400 161,638
The Dai-ichi Life Insurance Company, Ltd. 37,100 538,140
The Gunma Bank, Ltd. 14,000 94,577
The Hachijuni Bank, Ltd. 13,000 91,665
The Hiroshima Bank, Ltd. 24,000 129,344
The Iyo Bank, Ltd. 10,000 118,593
The Joyo Bank, Ltd. 23,000 118,201
The Oriental Land Company, Ltd. 7,200 545,171
The Shizuoka Bank, Ltd. 22,000 219,421
The Yokohama Rubber Company, Ltd. 10,000 103,081
THK Company, Ltd. 4,000 101,643
Tobu Railway Company, Ltd. 40,000 189,509
Toho Company, Ltd. 4,567 111,667
Toho Gas Company, Ltd. 14,000 81,609
Tohoku Electric Power Company, Inc. 18,500 210,131
Tokio Marine Holdings, Inc. 23,500 887,050
Tokyo Electric Power Company, Inc. (I) 54,500 206,280
Tokyo Electron, Ltd. 5,800 402,310
Tokyo Gas Company, Ltd. 90,000 565,806
Tokyo Tatemono Company, Ltd. 15,000 109,895
Tokyu Corp. 44,000 272,218
Tokyu Fudosan Holdings Corp. 15,000 102,309
TonenGeneral Sekiyu KK 10,000 86,241
Toppan Printing Company, Ltd. 24,000 184,616
Toray Industries, Inc. 49,000 410,129
Toshiba Corp. 138,000 578,229
TOTO Ltd. 9,000 133,641
Toyo Seikan Group Holdings, Ltd. 4,800 70,208
Toyo Suisan Kaisha, Ltd. 4,000 140,729
Toyoda Gosei Company, Ltd. 2,466 55,049
Toyota Industries Corp. 6,100 348,901
Toyota Motor Corp. 95,700 6,680,217
Toyota Tsusho Corp. 7,900 209,015
Trend Micro, Inc. 4,000 131,802
Unicharm Corp. 12,900 337,722
United Urban Investment Corp. 85 132,508
USS Company, Ltd. 7,770 134,262
West Japan Railway Company 6,100 319,825
Yahoo Japan Corp. 52,400 216,134
Yakult Honsha Company, Ltd. 2,843 198,051
Yamada Denki Company, Ltd. 33,400 137,539
Yamaguchi Financial Group, Inc. 7,000 80,453
Yamaha Corp. 4,400 76,835
Yamaha Motor Company, Ltd. 8,100 195,134
Yamato Holdings Company, Ltd. 12,800 295,023
Yamato Kogyo Company, Ltd. 2,300 55,439
Yamazaki Baking Company, Ltd. 4,000 72,073
Yaskawa Electric Corp. 9,000 131,528
Yokogawa Electric Corp. 7,686 82,805
101,726,721
Jersey, Channel Islands - 0.0%
Randgold Resources Ltd. 3,461 239,923
239,923
Luxembourg - 0.2%
Altice SA (I) 2,177 235,440
ArcelorMittal 36,457 342,060
Millicom International Cellular SA, SDR 2,700 195,235
RTL Group SA 1,422 136,739
SES SA, ADR 11,632 412,355
Tenaris SA 16,418 230,147
1,551,976

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

International Equity Index Trust B (continued)

Shares or      
Principal
Amount Value
COMMON STOCKS (continued)
Macau - 0.1%
MGM China Holdings, Ltd. 35,912 $ 67,471
Sands China, Ltd. 88,800 367,209
Wynn Macau, Ltd. 61,415 132,725
567,405
Malaysia - 0.7%
AirAsia BHD 21,700 13,934
Alliance Financial Group BHD 53,600 69,248
AMMB Holdings BHD 59,087 101,352
Axiata Group BHD 90,800 173,464
Berjaya Sports Toto BHD 11,542 10,465
British American Tobacco Malaysia BHD 4,300 79,709
Bumi Armada BHD 83,400 23,148
Cimb Group Holdings BHD 176,844 296,874
DiGi.Com BHD 110,800 188,342
Felda Global Ventures Holdings BHD 39,000 22,820
Gamuda BHD 62,000 85,463
Genting BHD 72,900 176,943
Genting Malaysia BHD 105,700 120,602
Genting Plantations BHD 15,000 41,021
Hong Leong Bank BHD 20,060   77,240
Hong Leong Financial Group BHD 5,600 25,584
IHH Healthcare BHD 71,800   116,468
IJM Corp. BHD 43,710 84,919
IOI Corp. BHD 114,466 141,859
IOI Properties Group BHD 66,770 39,244
Kuala Lumpur Kepong BHD 17,150 105,628
Lafarge Malaysia BHD 9,360 24,890
Malayan Banking BHD 180,541 454,845
Malaysia Airports Holdings BHD 34,222 64,668
Maxis BHD 67,200 130,249
MISC BHD 26,280 60,122
Petronas Chemicals Group BHD 99,800 151,671
Petronas Dagangan BHD 12,200 65,906
Petronas Gas BHD 21,200 131,672
PPB Group BHD 17,700 73,489
Public Bank BHD 97,378 496,178
RHB Capital BHD 18,480 39,458
Sapurakencana Petroleum BHD 80,300 51,067
Sime Darby BHD 102,681 256,996
Telekom Malaysia BHD 41,901 82,038
Tenaga Nasional BHD 97,450 377,305
UEM Sunrise BHD 36,187 13,453
UMW Holdings BHD 25,500 74,724
YTL Corp. BHD 153,792 69,363
YTL Power International BHD 51,383 20,796
4,633,217
Mexico - 1.0%
Alfa SAB de CV, Class A 97,680 197,557
America Movil SAB de CV 1,194,332 1,222,246
Arca Continental SAB de CV 7,500 46,121
Cemex SAB de CV (I) 435,030 412,399
Coca-Cola Femsa SAB de CV 15,312 121,986
Controladora Comercial Mexicana SAB de CV 20,600 66,351
El Puerto de Liverpool SAB de CV 4,600 53,951
Fibra Uno Administracion SA de CV 71,200 188,578
Fomento Economico Mexicano SAB de CV 69,820 652,679
Fresnillo PLC 7,504 75,782
Gentera SAB de CV 28,000 50,187
Grupo Aeroportuario del Pacifico SAB de CV,
       B Shares 18,400 120,906
Grupo Aeroportuario del Sureste SAB de CV,
       B Shares 9,800 131,791
Grupo Bimbo SAB de CV, Series A 63,384 179,138
Grupo Carso SAB de CV, Series A1 17,777 74,168
Grupo Financiero Banorte SAB de CV 94,062 545,373
Grupo Financiero Inbursa SAB de CV 64,238 161,885
Grupo Financiero Santander Mexico
       SAB de CV 65,000 141,944
Grupo Mexico SAB de CV, Series B 132,866 391,799
Grupo Televisa SAB 91,626 604,833
Industrias Penoles SAB de CV 4,883 84,794
Kimberly-Clark de Mexico SAB de CV 56,178 117,376
Mexichem SAB de CV 31,640 82,515
Minera Frisco SAB de CV (I) 27,077 29,112
Promotora y Operadora de Infraestructura
       SAB de CV (I) 9,800 104,595
Wal-Mart de Mexico SAB de CV 199,088 496,105
6,354,171
Netherlands - 2.5%
Aegon NV 64,710 510,926
Akzo Nobel NV 8,385 633,984
ASML Holding NV 12,384 1,255,479
Boskalis Westminster NV 2,557 126,030
Delta Lloyd NV 4,778 89,908
Gemalto NV (L) 2,994 238,556
Heineken Holding NV 4,171 287,024
Heineken NV 8,722 665,718
ING Groep NV (I) 134,847 1,975,228
Koninklijke Ahold NV 34,366 677,209
Koninklijke DSM NV 6,401 356,754
Koninklijke KPN NV 114,399 387,771
Koninklijke Philips NV 34,071 966,589
Koninklijke Vopak NV 2,830 156,178
NN Group NV (I) 4,208 119,295
QIAGEN NV (I) 8,422 211,344
Randstad Holding NV 4,700 284,913
Royal Dutch Shell PLC, A Shares 135,820 4,038,874
Royal Dutch Shell PLC, B Shares 84,643 2,636,645
TNT Express NV 12,234 77,708
Wolters Kluwer NV 11,636 379,968
16,076,101
New Zealand - 0.1%
Auckland International Airport, Ltd. 23,440 78,733
Contact Energy, Ltd. 8,664 38,689
Fletcher Building, Ltd. 23,909 150,165
Spark New Zealand, Ltd. 40,371 89,784
357,371
Norway - 0.4%
DNB ASA 34,358 551,436
Gjensidige Forsikring ASA 4,167 71,899
Norsk Hydro ASA 44,388 233,318
Orkla ASA 33,366 251,824
Statoil ASA 39,875 705,046
Telenor ASA 23,931 482,937
Yara International ASA 6,981 354,446
2,650,906
Peru - 0.1%
Cia de Minas Buenaventura SAA, ADR 7,964 80,675
Credicorp, Ltd., ADR 2,734 384,482
465,157
Philippines - 0.2%
Ayala Corp. 7,160 127,244

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

International Equity Index Trust B (continued)

Shares or      
Principal
Amount Value
COMMON STOCKS (continued)
Philippines (continued)  
Ayala Land, Inc. 253,800 $ 218,158
Bank of The Philippine Islands 29,885 67,151
BDO Unibank, Inc. 24,194 67,046
Energy Development Corp. 244,436 46,416
Globe Telecom, Inc. 970 43,627
Jollibee Foods Corp. 18,900 92,940
Metropolitan Bank & Trust Company 46,417 101,121
Philippine Long Distance Telephone Company 2,340 148,854
SM Investments Corp. 5,535 111,313
SM Prime Holdings, Inc. 241,744 107,896
Universal Robina Corp. 30,280 152,952
1,284,718
Poland - 0.3%
Bank Handlowy w Warszawie SA 1,164 33,249
Bank Millennium SA 12,341 21,596
Bank Pekao SA 4,928 238,744
Bank Zachodni WBK SA 1,033 93,941
Boryszew SA (I) 2,380   3,913
Cyfrowy Polsat SA (I) 6,360 41,835
Enea SA 3,933 17,132
Eurocash SA 2,447   21,095
Grupa Lotos SA (I) 3,293 23,508
KGHM Polska Miedz SA 5,681 179,543
mBank 525 60,928
Orange Polska SA 26,179 65,786
PGE Polska Grupa Energetyczna SA 26,654 146,439
Polski Koncern Naftowy Orlen SA 11,432 178,463
Polskie Gornictwo Naftowe I Gazownictwo SA 63,078 91,412
Powszechna Kasa Oszczednosci
       Bank Polski SA 30,479 272,800
Powszechny Zaklad Ubezpieczen SA 2,300 296,761
Synthos SA 14,988 17,373
Tauron Polska Energia SA 37,474 43,557
1,848,075
Portugal - 0.1%
EDP - Energias de Portugal SA 84,624 316,928
Galp Energia SGPS SA 7,057 76,316
Jeronimo Martins, SGPS SA 7,332 92,264
485,508
Russia - 0.8%
Gazprom OAO, ADR 3,680 17,323
Gazprom OAO, ADR 251,662 1,186,586
Lukoil OAO, SADR 29,756 1,366,693
MMC Norilsk Nickel OJSC, ADR 39,185 698,493
Mobile TeleSystems OJSC, ADR 20,264 204,653
NovaTek OAO, GDR 3,606 269,164
Rosneft OAO, GDR 9,131 39,169
Rosneft OAO, GDR (I) 30,000 128,690
Sberbank of Russia, ADR 40,000 174,800
Sberbank of Russia, SADR 34,900 153,868
Severstal PAO, GDR 4,250 47,775
Sistema JSFC, SGDR 3,202 23,641
Surgutneftegas OAO, ADR 22,274 167,835
Surgutneftegas OAO, ADR 23,070 141,505
Tatneft OAO, ADR 7,986 236,914
Uralkali PJSC, GDR 6,000 79,903
VTB Bank OJSC, GDR (I)(L) 50,760 101,994
5,039,006
Singapore - 1.0%
Ascendas Real Estate Investment Trust 56,864 107,259
CapitaLand, Ltd. 89,999 234,589
CapitaMall Trust 90,402 144,726
City Developments, Ltd. 14,000 102,616
ComfortDelGro Corp., Ltd. 70,000 147,463
DBS Group Holdings, Ltd. 61,317 909,200
Genting Singapore PLC 226,200 151,245
Global Logistic Properties, Ltd. 108,000 208,450
Golden Agri-Resources, Ltd. 284,496 88,040
Hutchison Port Holdings Trust 215,400 149,521
Jardine Cycle & Carriage, Ltd. 4,547 135,814
Keppel Corp., Ltd. 49,969 327,399
Oversea-Chinese Banking Corp., Ltd. 101,410 780,898
Sembcorp Industries, Ltd. 38,019 116,715
Sembcorp Marine, Ltd. (L) 36,999 78,531
Singapore Airlines, Ltd. 23,140 201,469
Singapore Exchange, Ltd. 37,000 219,386
Singapore Press Holdings, Ltd. 59,500 181,627
Singapore Technologies Engineering, Ltd. 54,000 136,938
Singapore Telecommunications, Ltd. 279,840 892,980
StarHub, Ltd. 21,000 66,575
Suntec Real Estate Investment Trust 82,000 110,745
United Overseas Bank, Ltd. 44,650 748,431
UOL Group, Ltd. 24,873 138,428
Wilmar International, Ltd. 72,000 170,927
6,549,972
South Africa - 1.7%
African Bank Investments, Ltd. (I) 52,291 1,336
African Rainbow Minerals, Ltd. 5,606 45,595
Anglo American Platinum, Ltd. (I) 2,632 64,433
AngloGold Ashanti, Ltd. (I) 14,430 136,052
Aspen Pharmacare Holdings, Ltd. (I) 8,659 273,594
Assore, Ltd. 664 7,259
Barclays Africa Group, Ltd. 12,071 183,965
Coronation Fund Managers, Ltd. 8,138 65,779
Discovery, Ltd. 15,181 155,805
Exxaro Resources, Ltd. 4,891 40,386
FirstRand, Ltd. 118,126 543,030
Gold Fields, Ltd. 29,492 122,304
Growthpoint Properties, Ltd. 77,099 182,038
Impala Platinum Holdings, Ltd. (I) 22,733 109,926
Imperial Holdings, Ltd. 6,917 109,666
Investec PLC 19,237 159,542
Investec, Ltd. 7,953 65,814
Kumba Iron Ore, Ltd. 3,135 40,256
Liberty Holdings, Ltd. 4,754 65,724
Life Healthcare Group Holdings, Ltd. 40,397 140,698
Massmart Holdings, Ltd. 4,351 53,669
Mediclinic International, Ltd. 12,912 129,633
MMI Holdings, Ltd. 19,936 53,966
MR Price Group, Ltd. 8,969 191,830
MTN Group, Ltd. 59,164 997,337
Naspers, Ltd., N Shares 13,874 2,128,147
Nedbank Group, Ltd. 7,167 140,369
Netcare, Ltd. 36,217 124,198
Pick n Pay Stores, Ltd. 7,147 29,112
PPC, Ltd. 27,421 41,432
Rand Merchant Insurance Holdings, Ltd. 31,391 119,535
Redefine Properties, Ltd. 117,531 120,022
Remgro, Ltd. 18,654 408,215
RMB Holdings, Ltd. 31,391 180,571
Sanlam, Ltd. 64,030 412,660
Sappi, Ltd. (I) 26,810 108,250
Sasol, Ltd. 19,396 654,879
Shoprite Holdings, Ltd. 16,492 222,974

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

International Equity Index Trust B (continued)

Shares or      
Principal
Amount Value
COMMON STOCKS (continued)
South Africa (continued)
Standard Bank Group, Ltd. 42,608 $ 588,796
Steinhoff International Holdings, Ltd. 60,568 379,082
The Bidvest Group, Ltd. 11,166 302,041
The Foschini Group, Ltd. 6,632 98,604
Tiger Brands, Ltd. 6,286 158,171
Truworths International, Ltd. 18,481 134,146
Vodacom Group Pty, Ltd. 13,061 142,664
Woolworths Holdings, Ltd. 26,688 189,211
10,622,716
South Korea - 2.9%
Amorepacific Corp. 102 308,191
Amorepacific Group 77 104,044
BS Financial Group, Inc. 6,581   89,997
Celltrion, Inc. (L) 2,680 168,346
CJ CheilJedang Corp. 326 110,970
CJ Corp. 456 72,256
Coway Company, Ltd. 1,930 158,848
Daelim Industrial Company, Ltd. 877 50,938
Daewoo Engineering &
       Construction Company, Ltd. (I) 2,130 15,188
Daewoo International Corp. 1,626 38,826
Daewoo Securities Company, Ltd. 7,159 83,239
Daewoo Shipbuilding & Marine    
       Engineering Company, Ltd. 4,040 65,688
Daum Kakao Corp. 874 90,786
DGB Financial Group, Inc. 4,763 51,909
Dongbu Insurance Company, Ltd. 1,810 80,593
Doosan Corp. 163 17,094
Doosan Heavy Industries &
       Construction Company, Ltd. 2,030 51,665
Doosan Infracore Company, Ltd. (I) 4,470 47,845
E-Mart Company, Ltd. 817 171,254
GS Engineering & Construction Corp. 1,468 39,854
GS Holdings Corp. 2,038 78,718
Hana Financial Group, Inc. 9,912 256,399
Hankook Tire Company, Ltd. 3,008 122,733
Hanwha Chemical Corp. 2,217 29,078
Hanwha Corp. 2,040 66,643
Hanwha Life Insurance Company, Ltd. 8,120 53,880
Hotel Shilla Company, Ltd. 1,190 104,815
Hyosung Corp. 1,033 80,558
Hyundai Department Store Company, Ltd. 494 66,225
Hyundai Development Co-Engineering
       & Construction 1,140 58,438
Hyundai Engineering &
       Construction Company, Ltd. 2,649 119,933
Hyundai Glovis Company, Ltd. 539 109,576
Hyundai Heavy Industries Company, Ltd. 1,587 174,260
Hyundai Marine & Fire
       Insurance Company, Ltd. 2,650 59,248
Hyundai Merchant Marine Company, Ltd. (I) 2,712 22,079
Hyundai Mipo Dockyard Company, Ltd. 513 35,172
Hyundai Mobis Company, Ltd. 2,332 516,551
Hyundai Motor Company 5,356 811,121
Hyundai Steel Company 2,189 143,683
Hyundai Wia Corp. 644 82,012
Industrial Bank of Korea 7,080 84,985
Kangwon Land, Inc. 4,000 124,743
KB Financial Group, Inc. 10,980 387,581
KB Financial Group, Inc., ADR 2,772 97,408
KCC Corp. 196 99,830
Kia Motors Corp. 8,934 363,059
Korea Aerospace Industries, Ltd. 1,710 86,841
Korea Electric Power Corp. 6,370 262,506
Korea Electric Power Corp., ADR (L) 4,277 87,679
Korea Gas Corp. 1,166 42,479
Korea Investment Holdings Company, Ltd. 1,170 66,180
Korea Zinc Company, Ltd. 339 129,624
Korean Air Lines Company, Ltd. (I) 1,090 47,629
KT Corp. (I) 2,633 68,856
KT&G Corp. 3,640 291,040
Kumho Petrochemical Company, Ltd. 614 43,377
LG Chem, Ltd. 1,568 318,291
LG Corp. 3,654 201,673
LG Display Company, Ltd. 7,650 216,495
LG Display Company, Ltd., ADR (I) 2,417 34,587
LG Electronics, Inc. 3,460 183,393
LG Household & Health Care, Ltd. 362 274,327
LG Innotek Company, Ltd. 210 21,945
LG Uplus Corp. 6,602 65,405
Lotte Chemical Corp. 562 102,683
Lotte Confectionery Company, Ltd. 20 32,173
Lotte Shopping Company, Ltd. 410 87,653
LS Corp. 793 37,089
LS Industrial Systems Company, Ltd. 735 42,228
Mirae Asset Securities Company, Ltd. 918 43,206
Naver Corp. 965 582,188
NCSoft Corp. 632 103,199
NH Investment & Securities Company, Ltd. 3,944 50,997
OCI Company, Ltd. 650 60,409
Orion Corp. 143 149,144
POSCO 2,241 489,811
S-1 Corp. 810 61,199
S-Oil Corp. 1,778 102,837
Samsung C&T Corp. 4,135 221,059
Samsung Card Company, Ltd. 1,490 55,070
Samsung Electro-Mechanics Company, Ltd. 2,318 160,455
Samsung Electronics Company, Ltd. 3,829 4,965,269
Samsung Fire & Marine
       Insurance Company, Ltd. 1,090 262,632
Samsung Heavy Industries Company, Ltd. 6,270 101,813
Samsung Life Insurance Company, Ltd. 2,331 202,844
Samsung SDI Company, Ltd. 1,793 220,212
Samsung SDS Company, Ltd. 930 223,796
Samsung Securities Company, Ltd. 2,498 116,823
Shinhan Financial Group Company, Ltd. 14,125 530,674
Shinhan Financial Group Company, Ltd., ADR 350 13,055
Shinsegae Company, Ltd. 197 29,876
SK C&C Company, Ltd. 585 122,476
SK Holdings Company, Ltd. 1,019 155,921
SK Hynix, Inc. 19,510 796,918
SK Innovation Company, Ltd. 2,274 195,073
SK Networks Company, Ltd. 3,090 22,678
SK Telecom Company, Ltd. 257 63,239
Woori Bank 12,174 102,731
Yuhan Corp. 350 58,976
18,974,992
Spain - 2.4%
Abertis Infraestructuras SA 15,172 274,226
ACS Actividades de Construccion
       y Servicios SA 6,870 243,158
Aena SA (I)(S) 2,065 207,628
Amadeus IT Holding SA, A Shares 14,607 626,011
Banco Bilbao Vizcaya Argentaria SA 209,245 2,113,266
Banco de Sabadell SA (L) 118,532 289,615
Banco Popular Espanol SA 61,480 300,707

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

International Equity Index Trust B (continued)

Shares or      
Principal
Amount Value
COMMON STOCKS (continued)
Spain (continued)
Banco Santander SA 484,540 $ 3,632,278
Bankia SA (I) 160,432 223,581
Bankinter SA 23,159 176,572
Caixabank SA 78,461 372,096
Distribuidora Internacional de Alimentacion SA 23,600 184,173
Enagas SA 6,236 178,317
Endesa SA 10,933 211,059
Ferrovial SA 15,122 321,524
Gas Natural SDG SA 12,174 273,331
Grifols SA 4,281 183,435
Grifols SA, B Shares 427 14,241
Iberdrola SA 175,803 1,133,670
Inditex SA 37,987 1,219,594
Mapfre SA 30,375 110,902
Red Electrica Corp. SA 4,146 337,124
Repsol SA 33,446 622,607
Telefonica SA 146,711 2,087,617
Zardoya Otis SA 5,733 73,991
15,410,723
Sweden - 2.2%
Alfa Laval AB 10,314 202,571
Assa Abloy AB, Series B 11,407 679,462
Atlas Copco AB, A Shares 23,341 755,634
Atlas Copco AB, B Shares 13,732 405,498
Boliden AB (L) 10,826 214,458
Electrolux AB, Series B (L) 9,396 268,429
Elekta AB, B Shares (L) 15,376 138,218
Getinge AB, B Shares (L) 6,512 160,904
Hennes & Mauritz AB, B Shares 33,066 1,339,760
Hexagon AB, B Shares 9,601 340,884
Husqvarna AB, B Shares 18,793 136,129
ICA Gruppen AB 2,659 89,128
Industrivarden AB, C Shares 2,860 53,661
Investor AB, B Shares 16,147 642,761
Kinnevik Investment AB, B Shares 7,421 247,730
Lundin Petroleum AB (I) 8,518 116,550
Nordea Bank AB 100,775 1,227,488
Sandvik AB 40,462 453,095
Securitas AB, B Shares 14,347 205,971
Skandinaviska Enskilda Banken AB, A Shares 56,007 653,699
Skanska AB, B Shares 14,150 317,233
SKF AB, B Shares 15,548 401,465
Svenska Cellulosa AB, B Shares 19,945 458,313
Svenska Handelsbanken AB, A Shares 18,485 832,500
Swedbank AB, A Shares (L) 32,393 773,342
Swedish Match AB 8,709 256,068
Tele2 AB, B Shares 12,690 151,783
Telefonaktiebolaget LM Ericsson, B Shares 105,801 1,328,325
TeliaSonera AB 82,426 523,791
Volvo AB, B Shares 52,551 635,984
14,010,834
Switzerland - 6.9%
ABB, Ltd. (I) 76,786 1,628,939
Actelion, Ltd. (I) 3,508 404,590
Adecco SA (I) 5,213 433,323
Aryzta AG (I) 3,464 212,353
Baloise Holding AG 1,589 209,998
Barry Callebaut AG (I) 81 79,084
Chocoladefabriken Lindt & Sprungli AG 35 187,342
Chocoladefabriken Lindt & Sprungli AG 4   253,043
Cie Financiere Richemont SA 18,244 1,465,922
Coca-Cola HBC AG (I) 7,325   131,765
Credit Suisse Group AG (I) 52,067 1,400,808
EMS-Chemie Holding AG 400 162,656
Geberit AG, ADR 1,444 540,367
Givaudan SA (I) 319 576,321
Glencore PLC (I) 371,649 1,568,999
Holcim, Ltd. (I) 8,405 626,193
Julius Baer Group, Ltd. (I) 8,521 425,912
Kuehne + Nagel International AG 2,068 307,039
Lonza Group AG (I) 1,729 215,257
Nestle SA 111,948 8,429,958
Novartis AG 79,810 7,877,286
Pargesa Holding SA, ADR 755 52,986
Partners Group Holding AG 751 223,894
Roche Holding AG 24,377 6,698,607
Schindler Holding AG 1,670 277,156
Schindler Holding AG 806 131,704
SGS SA 194 369,884
Sika AG 91 325,821
Sonova Holding AG 1,693 234,908
STMicroelectronics NV 24,208 225,594
Sulzer AG 981 107,682
Swiss Life Holding AG (I) 1,089 269,034
Swiss Prime Site AG (I) 2,297 199,443
Swiss Re AG 12,928 1,247,009
Swisscom AG 890 516,102
Syngenta AG 3,188 1,083,055
The Swatch Group AG 1,748 146,505
The Swatch Group AG 1,109 469,003
Transocean, Ltd. (L) 14,101 203,152
UBS Group AG (I) 127,840 2,397,142
Wolseley PLC 9,747 576,089
Zurich Insurance Group AG (I) 5,119 1,730,233
44,622,158
Taiwan - 2.2%
Acer, Inc. (I) 58,018 37,377
Advanced Semiconductor Engineering, Inc. 215,933 292,402
Advantech Company, Ltd. 1,991 15,140
Asia Cement Corp. 36,863 46,316
Asustek Computer, Inc. 24,952 250,842
AU Optronics Corp. 163,827 82,203
Catcher Technology Company, Ltd. 22,184 232,005
Cathay Financial Holding Company, Ltd. 301,901 481,022
Chang Hwa Commercial Bank, Ltd. 86,556 50,003
Cheng Shin Rubber Industry Company, Ltd. 77,680 178,312
China Airlines, Ltd. (I) 26,874 13,786
China Development Financial Holding Corp. 213,153 73,794
China Motor Corp. 65 56
China Steel Corp. 438,388 363,929
Chinatrust Financial Holding Company, Ltd. 554,242 367,888
Chunghwa Telecom Company, Ltd. 141,148 451,096
Compal Electronics, Inc. 79,764 66,264
Delta Electronics, Inc. 67,331 424,282
E.Sun Financial Holding Company, Ltd. 65,547 40,078
Epistar Corp. 10,064 16,180
Eva Airways Corp. (I) 27,102 19,875
Evergreen Marine Corp. Taiwan, Ltd. (I) 8,799 6,535
Far Eastern Department Stores, Ltd. 20,540 17,340
Far Eastern New Century Corp. 63,603 65,561
Far EasTone
       Telecommunications Company, Ltd. (I) 69,159 166,842
First Financial Holding Copany, Ltd. 123,903 73,579
Formosa Chemicals & Fibre Corp. 119,212 272,960
Formosa Petrochemical Corp. 24,720 54,092

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

International Equity Index Trust B (continued)

Shares or      
Principal
Amount Value
COMMON STOCKS (continued)
Taiwan (continued)
Formosa Plastics Corp. 154,086 $ 373,309
Formosa Taffeta Company, Ltd. 5,000 5,259
Foxconn Technology Company, Ltd. 15,208 40,776
Fubon Financial Holding Company, Ltd. 211,112 378,427
HON HAI Precision Industry Company, Ltd. 457,542 1,339,290
Hotai Motor Company, Ltd. 9,000 138,862
HTC Corp. 26,997 120,159
Hua Nan Financial Holdings Company, Ltd. 80,813 46,169
InnoLux Display Corp. 100,841 50,241
Inotera Memories Inc (I) 79,000 104,860
Inventec Corp. 25,899 18,704
Kinsus Interconnect Technology Corp. 1,035 3,315
Largan Precision Company, Ltd. 3,143 270,197
Lite-On Technology Corp. 39,234 50,754
MediaTek, Inc. 49,340 666,374
Mega Financial Holding Company, Ltd. 358,065 296,604
Nan Ya Plastics Corp. 176,992 392,501
Novatek Microelectronics Corp. 7,361 37,990
Pan-International Industrial Corp. 328   192
Pegatron Corp. 32,989   89,006
Pou Chen Corp. 36,641 51,198
Powertech Technology, Inc. 13,149 22,597
President Chain Store Corp. 7,496 56,341
Quanta Computer Inc 92,771 223,918
Realtek Semiconductor Corp. 5,999 19,107
Shin Kong Financial Holding Company, Ltd. 102,847 29,213
Siliconware Precision Industries Company, Ltd. 54,855 90,888
SinoPac Financial Holdings Company, Ltd. 128,366 53,508
Synnex Technology International Corp. 23,741 32,038
Taishin Financial Holding Company, Ltd. 87,836 37,277
Taiwan Cement Corp. 60,781 85,544
Taiwan Cooperative Financial
       Holding Company, Ltd. 61,978 31,364
Taiwan Fertilizer Company, Ltd. 13,000 22,526
Taiwan Glass Industry Corp. 11,254 8,102
Taiwan Mobile Company, Ltd. 62,257 217,660
Taiwan Semiconductor
       Manufacturing Company, Ltd. 858,227 3,988,663
Teco Electric and Machinery Company, Ltd. 16,000 15,206
TPK Holding Company, Ltd. 8,000 55,788
Transcend Information, Inc. 6,608 23,396
U-Ming Marine Transport Corp. 5,000 7,386
Uni-President Enterprises Corp. 172,584 288,419
Unimicron Technology Corp. 20,604 13,324
United Microelectronics Corp. 258,313 127,987
Walsin Lihwa Corp. (I) 28,000 8,612
Wistron Corp. 37,862 32,126
Ya Hsin Industrial Company, Ltd. (I) 36,000 0
Yang Ming Marine Transport Corp. (I) 3,348 1,924
Yuanta Financial Holding Company, Ltd. 184,430 92,717
Yulon Motor Company, Ltd. 17,510 23,892
14,243,469
Thailand - 0.5%
Advanced Info Service PCL 48,400 352,514
Bangkok Bank PCL 34,900 197,881
Banpu PCL 55,000 49,862
BEC World PCL 46,019 57,983
Charoen Pokphand Foods PCL 136,200 94,176
CP ALL PCL 173,500 218,608
Glow Energy PCL 27,900 73,523
IRPC PCL 528,400 69,825
Kasikornbank PCL 61,800 436,816
Krung Thai Bank PCL 164,375 115,174
PTT Exploration & Production PCL 60,147 201,476
PTT Global Chemical PCL 65,273 104,810
PTT PCL 34,300 340,470
Thai Oil PCL 28,800 46,023
The Siam Cement PCL 11,300 177,105
The Siam Commercial Bank PCL 70,748 387,005
2,923,251
Turkey - 0.3%
Akbank TAS 67,697 198,591
Anadolu Efes Biracilik Ve Malt Sanayii AS 8,117 67,702
Arcelik AS 6,139 35,366
Bim Birlesik Magazalar AS 8,214 145,524
Coca-Cola Icecek AS 2,884 48,701
Emlak Konut Gayrimenkul Yatirim
       Ortakligi AS 17,803 20,152
Enka Insaat ve Sanayi AS 25,228 50,414
Eregli Demir ve Celik Fabrikalari TAS 30,186 46,914
Ford Otomotiv Sanayi AS 4,572 58,889
Haci Omer Sabanci Holding AS 31,762 112,015
KOC Holding AS 25,423 115,640
TAV Havalimanlari Holding AS 4,656 38,900
Tupras Turkiye Petrol Rafinerileri AS 4,998 118,411
Turk Hava Yollari AO 25,366 83,678
Turk Telekomunikasyon AS 22,064 58,496
Turkcell Iletisim Hizmetleri AS (I) 29,771 152,698
Turkiye Garanti Bankasi AS 86,216 281,158
Turkiye Halk Bankasi AS 25,911 127,597
Turkiye Is Bankasi 60,572 136,321
Turkiye Sise ve Cam Fabrikalari AS 33,126 40,855
Turkiye Vakiflar Bankasi TAO 22,351 36,478
Yapi ve Kredi Bankasi AS 35,813 54,894
2,029,394
United Kingdom - 12.6%
3i Group PLC 36,258 259,074
Aberdeen Asset Management PLC 35,216 239,584
Admiral Group PLC 7,053 159,698
Aggreko PLC 9,826 222,268
Amec Foster Wheeler PLC 13,351 178,590
Anglo American PLC 48,446 723,536
Antofagasta PLC 15,103 163,388
ARM Holdings PLC 48,433 786,610
Ashtead Group PLC 17,291 277,308
Associated British Foods PLC 12,272 512,147
AstraZeneca PLC 43,539 2,987,566
Aviva PLC 103,474 828,087
Babcock International Group PLC 8,659 126,316
BAE Systems PLC 112,391 870,977
Barclays PLC 565,704 2,041,915
BG Group PLC 119,476 1,466,411
BP PLC 635,283 4,117,991
British American Tobacco PLC 64,278 3,328,560
BT Group PLC 280,408 1,822,040
Bunzl PLC 11,962 324,306
Burberry Group PLC 16,791 431,199
Capita PLC 24,608 406,788
Centrica PLC 178,307 666,920
CNH Industrial NV 34,400 281,917
Cobham PLC 39,593 178,353
Compass Group PLC 59,446 1,031,934
Croda International PLC 5,115 207,454
Diageo PLC 86,634 2,394,063
Direct Line Insurance Group PLC 51,672 243,839

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

International Equity Index Trust B (continued)

Shares or      
Principal
Amount Value
COMMON STOCKS (continued)
United Kingdom (continued)
Dixons Carphone PLC 33,696 $ 206,078
easyJet PLC 5,884 163,759
Fiat Chrysler Automobiles NV (I) 23,822 386,727
G4S PLC 56,956 249,661
GKN PLC 59,980 318,155
GlaxoSmithKline PLC 168,245 3,872,973
Hammerson PLC 26,287 258,878
Hargreaves Lansdown PLC 8,843 150,836
HSBC Holdings PLC 659,530 5,620,110
ICAP PLC 23,327 181,938
IMI PLC 10,620 200,401
Imperial Tobacco Group PLC 33,548 1,471,619
Inmarsat PlcInmarsat PLC 15,909 217,867
InterContinental Hotels Group PLC 8,905 347,326
International Consolidated
       Airlines Group SA (I) 42,245 378,509
Intertek Group PLC 6,301 233,393
Intu Properties PLC 31,183 160,763
ITV PLC 141,502 529,788
J Sainsbury PLC 44,909   172,334
Johnson Matthey PLC 7,427 372,115
Kingfisher PLC 87,104 491,445
Land Securities Group PLC 29,076 539,802
Legal & General Group PLC 208,997 860,718
Liberty Global PLC, Series A (I) 1,021 52,551
Liberty Global PLC, Series C (I) 2,519   125,471
Lloyds Banking Group PLC (I) 1,968,998 2,282,331
London Stock Exchange Group PLC 7,813 284,158
Marks & Spencer Group PLC 60,423 477,875
Meggitt PLC 29,631 240,859
Melrose Industries PLC 40,293 165,487
Merlin Entertainments PLC (S) 17,412 113,994
National Grid PLC 130,372 1,676,062
Next PLC 5,452 566,997
Old Mutual PLC 171,915 564,337
Pearson PLC 30,043 646,633
Persimmon PLC (I) 11,241 277,016
Persimmon PLC (I) 11,241 16,341
Petrofac, Ltd. 10,236 144,103
Prudential PLC 89,572 2,222,759
Reckitt Benckiser Group PLC 22,660 1,946,612
Reed Elsevier NV 24,489 610,205
Reed Elsevier PLC 41,019 705,438
Rexam PLC 25,267 216,546
Rio Tinto PLC 44,561 1,837,548
Rio Tinto, Ltd. 15,286 662,342
Rolls-Royce Holdings PLC (I) 66,406 936,583
Royal Bank of Scotland Group PLC (I) 87,101 440,006
Royal Mail PLC 23,738 153,969
RSA Insurance Group PLC 36,872 229,823
SABMiller PLC 33,836 1,772,382
Schroders PLC 4,282 202,844
Segro PLC 27,304 168,607
Severn Trent PLC 8,842 269,525
Sky PLC 35,604 523,803
Smith & Nephew PLC 33,067 563,842
Smiths Group PLC 15,034 248,650
Sports Direct International PLC (I) 9,639 86,629
SSE PLC 34,209 759,195
Standard Chartered PLC 84,743 1,372,552
Standard Life PLC 70,816 497,600
Subsea 7 SA 11,603 99,637
Tate & Lyle PLC 18,516 163,814
Tesco PLC 289,494 1,033,361
The British Land Company PLC 34,770 428,535
The Sage Group PLC 40,707 281,192
The Weir Group PLC 7,289 183,927
Travis Perkins PLC 9,089 262,426
Tullow Oil PLC 34,473 144,517
Unilever NV (L) 57,972 2,422,499
Unilever PLC 44,887 1,872,833
United Utilities Group PLC 23,943 331,065
Vodafone Group PLC 913,827 2,990,326
Whitbread PLC 6,679 518,622
William Hill PLC 32,018 175,819
WM Morrison Supermarkets PLC 81,859 233,947
WPP PLC 45,433 1,031,807
80,900,036
United States - 0.6%
Carnival PLC 6,738 329,490
Catamaran Corp. (I) 8,200 488,161
Southern Copper Corp. (L) 6,974 203,501
Thomson Reuters Corp. 12,977 526,129
Valeant Pharmaceuticals International, Inc. (I) 11,100 2,192,832
3,740,113
TOTAL COMMON STOCKS (Cost $483,893,970) $ 618,506,925
         
PREFERRED SECURITIES - 1.2%
Brazil - 0.6%
AES Tiete SA 4,500 24,252
Banco Bradesco SA 90,730 843,461
Banco do Estado do Rio Grande do Sul SA 7,832 26,994
Bradespar SA 8,800 29,200
Braskem SA 4,100 14,131
Centrais Eletricas Brasileiras SA 4,300 9,162
Cia Brasileira de Distribuicao 2,538 76,143
Cia Energetica de Minas Gerais 26,542 106,615
Cia Energetica de Sao Paulo 6,883 51,026
Cia Paranaense de Energia 4,400 46,391
Gerdau SA 31,800 101,232
Itau Unibanco Holding SA 99,220 1,097,729
Itausa - Investimentos Itau SA 117,823 368,433
Lojas Americanas SA 19,570 100,868
Metalurgica Gerdau SA 10,700 36,242
Oi SA 3,067 4,930
Petroleo Brasileiro SA 150,651 459,286
Telefonica Brasil SA 5,054 78,354
Usinas Siderurgicas de Minas Gerais SA (I) 10,150 15,806
Vale SA 71,900 348,061
3,838,316
Germany - 0.5%
Bayerische Motoren Werke AG 1,808 166,997
Fuchs Petrolub SE 3,112 124,126
Henkel AG & Company KGaA 6,587 773,715
Porsche Automobil Holding SE 5,618 550,160
Volkswagen AG 5,379 1,426,519
3,041,517
South Korea - 0.1%
Hyundai Motor Company 1,197 122,687
Hyundai Motor Company 705 70,332
LG Chem, Ltd. 162 22,133

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

International Equity Index Trust B (continued)

Shares or
Principal
Amount Value
PREFERRED SECURITIES (continued)
South Korea (continued)
Samsung Electronics Company, Ltd. 706 $ 701,028  
916,180
TOTAL PREFERRED SECURITIES (Cost $8,317,453) $ 7,796,013
         
RIGHTS - 0.0%
Banco Bilbao Vizcaya Argentaria SA (I)(N) 209,245 30,149
Banco De Sabadell SA (I)(N) 118,532 30,078
Discovery, Ltd. (I)(N) 1,424 4,095
Standard Life PLC (I)(N) 86,554 93,727
Telefonica SA (Expiration
       Date: 04/06/2015) (I)(N) 146,711 23,663
TOTAL RIGHTS (Cost $0) $ 181,712
         
SECURITIES LENDING COLLATERAL - 3.3%
John Hancock
       Collateral Trust, 0.1102% (W)(Y) 2,150,501 21,515,763
TOTAL SECURITIES LENDING  
COLLATERAL (Cost $21,516,084) $ 21,515,763
         
SHORT-TERM INVESTMENTS - 1.2%
Money market funds - 1.2%
AIM Short-Term Investment Trust, STIC Prime
       Portfolio, Institutional Class, 0.0400% (Y) 7,751,026 7,751,026
7,751,026
TOTAL SHORT-TERM INVESTMENTS (Cost $7,751,026) $ 7,751,026
Total Investments (International Equity Index Trust B)
       (Cost $521,478,533) - 101.8% $ 655,751,439
Other assets and liabilities, net - (1.8%) (11,903,014 )
TOTAL NET ASSETS - 100.0% $ 643,848,425

International Growth Stock Trust

Shares or      
Principal
Amount Value
COMMON STOCKS - 92.7%
Australia - 3.5%
Amcor, Ltd. 804,557 $ 8,572,514
Brambles, Ltd. 601,211 5,257,710
CSL, Ltd. 52,610 3,680,718
17,510,942
Belgium - 1.2%
Anheuser-Busch InBev NV 49,942 6,101,160
6,101,160
Brazil - 3.9%
Banco Bradesco SA, ADR 853,020 7,916,026
BM&FBovespa SA 2,231,034 7,801,331
BRF SA 179,946 3,568,981
19,286,338
Canada - 7.3%
Canadian National Railway Company 67,897 4,547,016
Cenovus Energy, Inc. 139,418 2,350,144
CGI Group, Inc., Class A (I) 216,003 9,161,645
Encana Corp. 427,176 4,769,072
Fairfax Financial Holdings, Ltd. 10,548 5,912,976
Great-West Lifeco, Inc. 59,712 1,726,464
Suncor Energy, Inc. 277,355 8,104,622
  36,571,939
China - 5.1%
Baidu, Inc., ADR (I) 43,110 8,984,124
CNOOC, Ltd. 1,453,000   2,050,656
Great Wall Motor Company, Ltd., H Shares 1,220,000 8,600,565
Industrial & Commercial Bank of China, Ltd.,
       H Shares 7,522,000 5,563,891
25,199,236
Denmark - 2.6%
Carlsberg A/S, Class B 89,288 7,362,364
Novo Nordisk A/S, Class B 103,202 5,509,313
12,871,677
France - 3.2%
Publicis Groupe SA 133,106 10,269,967
Schneider Electric SE 71,892 5,594,526
15,864,493
Germany - 7.8%
adidas AG 58,854 4,647,288
Allianz SE 39,091 6,786,820
Deutsche Boerse AG 108,392 8,845,723
Deutsche Post AG 118,588 3,694,581
ProSiebenSat.1 Media AG 143,073 6,998,089
SAP SE 111,133 8,032,370
39,004,871
Hong Kong - 3.5%
Galaxy Entertainment Group, Ltd. 1,351,000 6,134,004
Hutchison Whampoa, Ltd. 815,000 11,296,595
17,430,599
Israel - 2.6%
Teva Pharmaceutical Industries, Ltd., ADR 204,502 12,740,475
12,740,475
Japan - 7.4%
Denso Corp. 76,500 3,487,277
FANUC Corp. 15,500 3,383,864
Japan Tobacco, Inc. 252,400 7,979,592
Keyence Corp. 6,100 3,328,751
Komatsu, Ltd. 262,800 5,151,584
Toyota Motor Corp. 110,000 7,678,410
Yahoo Japan Corp. 1,480,700 6,107,422
37,116,900
Mexico - 2.0%
Fomento Economico Mexicano SAB
       de CV, ADR 35,962 3,362,447
Grupo Televisa SAB, ADR 199,269 6,577,870
9,940,317
Netherlands - 1.2%
Royal Dutch Shell PLC, B Shares 187,509 5,840,939
5,840,939
Singapore - 4.3%
Avago Technologies, Ltd. 69,535 8,829,554
Keppel Corp., Ltd. 698,600 4,577,259
United Overseas Bank, Ltd. 479,600 8,039,135
21,445,948

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

International Growth Stock Trust (continued)

Shares or      
Principal
Amount Value
COMMON STOCKS (continued)
South Korea - 1.7%
Samsung Electronics Company, Ltd. 6,640 $ 8,610,442
8,610,442
Spain - 1.1%
Amadeus IT Holding SA, A Shares 129,429 5,546,927
5,546,927
Sweden - 2.8%
Investor AB, B Shares 204,455 8,138,703
Telefonaktiebolaget LM Ericsson, B Shares 467,970 5,875,336
14,014,039
Switzerland - 8.6%
ABB, Ltd. (I) 311,447 6,607,039
Julius Baer Group, Ltd. (I) 134,554 6,725,528
Novartis AG 37,753 3,726,240
Roche Holding AG 27,041 7,430,653
Syngenta AG 20,207 6,864,896
The Swatch Group AG 8,797 3,720,310
UBS Group AG (I) 409,770 7,683,643
42,758,309
Taiwan - 1.6%
Taiwan Semiconductor  
       Manufacturing Company, Ltd. 1,694,000 7,872,969
7,872,969
Thailand - 1.8%
Kasikornbank PCL 1,291,300   9,079,698
9,079,698
Turkey - 1.0%
Akbank TAS 1,654,615   4,853,857
4,853,857
United Kingdom - 18.5%
Aberdeen Asset Management PLC 835,261 5,682,508
British American Tobacco PLC 198,573 10,282,867
Centrica PLC 805,524 3,012,893
Compass Group PLC 473,621 8,221,672
Informa PLC 495,878 4,139,502
Kingfisher PLC 1,348,051 7,605,769
Next PLC 42,827 4,453,924
Reed Elsevier PLC 644,407 11,082,413
Sky PLC 1,013,359 14,908,459
Smith & Nephew PLC 291,266 4,966,519
Unilever NV 132,706 5,545,438
WPP PLC 538,929 12,239,359
92,141,323
TOTAL COMMON STOCKS (Cost $387,296,946) $ 461,803,398
         
SHORT-TERM INVESTMENTS - 6.0%
Money market funds - 6.0%
Fidelity Institutional Money Market
       Government Portfolio, 0.0100% (Y) 29,824,973 29,824,973
29,824,973
TOTAL SHORT-TERM INVESTMENTS (Cost $29,824,973) $ 29,824,973
Total Investments (International Growth Stock Trust)
       (Cost $417,121,919) - 98.7% $ 491,628,371
Other assets and liabilities, net - 1.3% 6,337,859
TOTAL NET ASSETS - 100.0% $ 497,966,230

International Small Company Trust

Shares or      
Principal
Amount Value
COMMON STOCKS - 99.4%
Australia - 5.8%
Acrux, Ltd. 11,121 $ 7,274
Adelaide Brighton, Ltd. 30,493 104,972
Aditya Birla Minerals, Ltd. (I) 16,006 2,248
AED Oil, Ltd. (I) 17,758 0
Ainsworth Game Technology, Ltd. 10,192 22,362
AJ Lucas Group, Ltd. (I) 6,337 1,130
Alkane Resources, Ltd. (I) 4,753 1,048
Alliance Resources, Ltd. (I) 22,348 1,359
Altium, Ltd. 4,532 15,331
Amalgamated Holdings, Ltd. 8,898 79,502
Amcom Telecommunications, Ltd. 6,851 14,045
APN News & Media, Ltd. (I) 69,611 52,591
ARB Corp., Ltd. 5,909 55,701
Arrium, Ltd. 200,392   25,755
ASG Group, Ltd. (I) 16,688 10,032
Atlas Iron, Ltd. 57,616 5,680
Ausdrill, Ltd. 16,467 3,447
Ausenco, Ltd. (I) 9,940   1,702
Austal, Ltd. 23,155 30,962
Austbrokers Holdings, Ltd. 4,308 28,401
Austin Engineering, Ltd. (I) 7,179 4,198
Australian Agricultural Company, Ltd. (I) 20,852 25,475
Automotive Holdings Group, Ltd. 31,654 100,964
AWE, Ltd. (I) 36,008 32,739
BC Iron, Ltd. 10,606 2,954
Beach Energy, Ltd. 137,711 105,980
Bega Cheese, Ltd. 5,704 20,813
Billabong International, Ltd. (I) 21,480 9,473
Blackmores, Ltd. 1,465 60,816
Bradken, Ltd. 10,103 14,125
Breville Group, Ltd. 7,320 41,943
Brickworks, Ltd. 1,798 19,793
BT Investment Management, Ltd. 3,141 21,899
Cabcharge Australia, Ltd. 9,047 31,822
Cardno, Ltd. 10,684 26,509
Carnarvon Petroleum, Ltd. (I) 56,316 5,562
Carsales.com, Ltd. 7,635 60,071
Cash Converters International, Ltd. 14,501 9,930
Cedar Woods Properties, Ltd. 2,505 10,566
Chandler Macleod Group, Ltd. 26,035 10,383
Coal of Africa, Ltd. (I) 28,467 608
Coffey International, Ltd. (I) 25,659 3,521
Compass Resources, Ltd. (I) 15,577 0
Corporate Travel Management, Ltd. 2,502 22,332
CSG, Ltd. 23,845 26,771
CSR, Ltd. 40,665 124,306
CuDeco, Ltd. (I) 8,580 9,214
Cue Energy Resources, Ltd. (I) 5,000 376
Data#3, Ltd. 9,073 5,454
Decmil Group, Ltd. 2,109 2,032
Devine, Ltd. (I) 8,467 5,853
Domino’s Pizza Enterprises, Ltd. 4,094 115,471
Downer EDI, Ltd. 31,360 106,312
Drillsearch Energy, Ltd. (I) 35,948 29,656
DuluxGroup, Ltd. 31,393 152,735
DWS, Ltd. 12,684 8,541
Echo Entertainment Group, Ltd. 24,307 83,384
Elders, Ltd. (I) 4,852 8,460
Emeco Holdings, Ltd. (I) 61,822 5,630
Energy Resources of Australia, Ltd. (I) 12,909 12,284
Energy World Corp., Ltd. (I) 75,962 22,243
ERM Power, Ltd. 7,077 12,236
Evolution Mining, Ltd. 26,424 16,985

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

116



John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

International Small Company Trust (continued)

Shares or      
Principal
Amount Value
COMMON STOCKS (continued)
Australia (continued)
Fairfax Media, Ltd. 171,716 $ 124,313
Fantastic Holdings, Ltd. 4,687 7,034
Finbar Group, Ltd. 8,370 8,033
Fleetwood Corp., Ltd. 5,216 5,553
FlexiGroup, Ltd. 16,586 43,446
Flinders Mines, Ltd. (I) 102,814 1,329
G8 Education, Ltd. 17,385 44,310
GrainCorp, Ltd., Class A 13,614 97,272
Grange Resources, Ltd. 101,992 8,901
GUD Holdings, Ltd. 7,726 48,343
GWA Group, Ltd. 24,613 48,431
Hansen Technologies, Ltd. 7,995 14,093
Hillgrove Resources, Ltd. (I) 10,302 2,896
Hills, Ltd. 29,039 19,098
Horizon Oil, Ltd. (I) 103,008 8,611
iiNET, Ltd. 15,854 106,385
Imdex, Ltd. (I) 15,820 4,330
IMF Bentham, Ltd. 11,295 18,294
Independence Group NL 21,877 86,862
Infigen Energy (I) 81,696 17,394
Infomedia, Ltd. 32,069 29,947
International Ferro Metals, Ltd. (I) 24,339 1,211
Intrepid Mines, Ltd. (I) 5,915 516
Invocare, Ltd. 9,238   92,247
IOOF Holdings, Ltd. 18,395 143,727
Iress, Ltd. 10,359   82,629
JB Hi-Fi, Ltd. (L) 9,468 134,287
Karoon Gas Australia, Ltd. (I) 6,513 10,639
Kingsgate Consolidated, Ltd. (I) 11,120 5,787
Linc Energy, Ltd. (I)(L) 22,798 9,095
M2 Telecommunications Group, Ltd. 15,152 116,776
MACA, Ltd. 4,396 2,926
Macmahon Holdings, Ltd. (I) 112,440 4,189
Magellan Financial Group, Ltd. 3,751 55,873
Matrix Composites & Engineering, Ltd. 1,943 1,011
Mayne Pharma Group, Ltd. (I) 16,445 11,927
McMillan Shakespeare, Ltd. 5,664 51,160
McPherson’s, Ltd. 7,978 6,798
Medusa Mining, Ltd. (I) 8,127 5,802
Metals X, Ltd. 35,107 32,002
Metcash, Ltd. 66,572 78,330
Mincor Resources NL 19,890 10,220
Mineral Deposits, Ltd. (I) 5,861 3,483
Mineral Resources, Ltd. 9,687 49,544
MMA Offshore, Ltd. 23,329 11,674
Molopo Energy, Ltd. (I) 5,287 502
Monadelphous Group, Ltd. (L) 7,434 56,344
Mortgage Choice, Ltd. 6,422 12,444
Mount Gibson Iron, Ltd. 62,063 10,306
Myer Holdings, Ltd. (L) 45,216 46,601
Navitas, Ltd. 5,843 21,713
NIB Holdings, Ltd. 43,000 121,008
Northern Star Resources, Ltd. 42,401 73,300
NRW Holdings, Ltd. 18,377 2,790
Nufarm, Ltd. 14,896 75,165
Oceanagold Corp. 21,200 40,340
Otto Energy, Ltd. (I) 63,569 4,830
OZ Minerals, Ltd. 18,232 54,367
OzForex Group, Ltd. 14,134 25,969
Pacific Brands, Ltd. (I) 68,225 23,811
Paladin Energy, Ltd. (I) 118,845 33,749
PanAust, Ltd. 16,167 21,032
Panoramic Resources, Ltd. 26,277 11,155
Peet, Ltd. 13,800 12,811
Perpetual, Ltd. 3,182 132,845
Perseus Mining, Ltd. (I) 34,213 7,292
PMP, Ltd. (I) 32,750 11,447
Premier Investments, Ltd. 6,565 63,882
Primary Health Care, Ltd. 42,111 175,978
Programmed Maintenance Services, Ltd. 12,923 23,736
RCR Tomlinson, Ltd. 10,520 15,989
Reckon, Ltd. 11,034 16,216
Redflex Holdings, Ltd. (I) 3,279 1,096
Regis Resources, Ltd. (I) 20,593 20,439
Resolute Mining, Ltd. (I) 37,931 8,834
Resource Generation, Ltd. (I) 9,069 554
Retail Food Group, Ltd. 8,388 44,977
Ridley Corp., Ltd. 19,156 15,596
SAI Global, Ltd. 19,386 60,973
Sandfire Resources NL 8,888 29,727
Saracen Mineral Holdings, Ltd. (I) 20,048 6,397
Sedgman, Ltd. 11,057 5,722
Select Harvests, Ltd. 4,873 27,488
Senex Energy, Ltd. (I) 87,382 20,838
Servcorp, Ltd. 5,074 25,291
Seven Group Holdings, Ltd. 7,850 42,915
Seven West Media, Ltd. 23,252 23,620
Sigma Pharmaceuticals, Ltd. 207,664 140,323
Silex Systems, Ltd. (I) 1,955 750
Silver Lake Resources, Ltd. (I) 29,625 4,465
Sirtex Medical, Ltd. 4,444 70,111
Skilled Group, Ltd. 11,678 11,100
Slater & Gordon, Ltd. 6,228 35,814
SMS Management & Technology, Ltd. 8,079 21,770
Southern Cross Media Group, Ltd. 51,441 44,910
Spark Infrastructure Group 102,671 154,519
Specialty Fashion Group, Ltd. 12,034 5,494
St Barbara, Ltd. (I) 33,049 5,481
STW Communications Group, Ltd. 25,254 13,330
Sundance Resources, Ltd. (I) 164,268 2,619
Super Cheap Auto Group, Ltd. 12,026 87,752
Tabcorp Holdings, Ltd. (I) 748 2,695
Tabcorp Holdings, Ltd. 8,975 32,337
Tassal Group, Ltd. 12,045 31,119
Technology One, Ltd. 23,711 72,395
Ten Network Holdings, Ltd. (I) 108,747 16,916
TFS Corp., Ltd. 19,836 26,559
The Prime Retirement & Aged
       Care Property Trust (I) 14,396 0
The Reject Shop, Ltd. 2,561 13,054
Tiger Resources, Ltd. (I) 64,257 2,428
Tox Free Solutions, Ltd. 9,372 20,191
Transfield Service, Ltd. (I) 42,615 44,198
Transpacific Industries Group, Ltd. 84,321 50,883
Troy Resources, Ltd. (I) 7,482 2,536
UGL, Ltd. (I) 12,337 13,634
UXC, Ltd. 17,598 10,565
Village Roadshow, Ltd. 13,075 55,790
Virgin Australia Holdings, Ltd. (I) 359,466 1,369
Virgin Australia Holdings, Ltd. (I) 281,808 110,362
Virtus Health, Ltd. 2,849 15,865
Vocus Communications, Ltd. 6,663 29,704
Watpac, Ltd. 11,170 6,751
Webjet, Ltd. 7,994 23,993
Western Areas, Ltd. 16,601 44,845
White Energy Company, Ltd. (I)(L) 9,845 1,605

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

International Small Company Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Australia (continued)
Whitehaven Coal, Ltd. (I)(L) 54,148 $ 58,465
Wide Bay Australia, Ltd. 607 2,406
6,239,881
Austria - 1.1%
AMAG Austria Metall AG (S) 304 10,587
ams AG 4,783 228,368
Austria Technologie & Systemtechnik AG 491 7,698
CA Immobilien Anlagen AG (I) 550 10,296
Conwert Immobilien Invest SE (I) 4,312 54,030
DO & Company AG 168 12,469
EVN AG 1,566 17,593
Flughafen Wien AG 192 16,747
Kapsch TrafficCom AG (I) 191 4,884
Lenzing AG 92 6,196
Mayr Melnhof Karton AG 640 65,976
Oesterreichische Post AG 3,720 183,246
Palfinger AG 1,137 30,062
RHI AG 2,979 87,330
Rosenbauer International AG 174   14,815
S IMMO AG (I) 3,364 30,552
Schoeller-Bleckmann Oilfield Equipment AG 1,346 86,119
Semperit AG Holding 317 14,868
Strabag SE 361 8,073
UNIQA Insurance Group AG 848 7,674
Wienerberger AG 9,071 144,748
Zumtobel AG 5,975   148,014
1,190,345
Bahamas - 0.0%
United International Enterprises 65 10,287
10,287
Belgium - 1.4%
Ablynx NV (I) 1,954 18,985
Ackermans & van Haaren NV 1,818 213,267
AGFA-Gevaert NV (I) 25,633 59,072
Banque Nationale de Belgique 12 44,492
Barco NV 967 57,428
BHF Kleinwort Benson Group (I) 2,083 10,506
Cie d’Entreprises CFE 687 74,482
Cie Immobiliere de Belgique SA 47 2,500
Cie Maritime Belge SA 1,387 20,506
D’ieteren SA 2,196 76,835
Deceuninck NV 7,720 16,211
Econocom Group SA 4,944 39,171
Elia System Operator SA 2,673 112,576
Euronav NV (I) 2,340 27,649
EVS Broadcast Equipment SA 811 30,120
Exmar NV 1,567 16,042
Fagron 1,839 71,607
Galapagos NV (I) 2,443 57,862
Gimv NV 23 1,036
Ion Beam Applications (I) 1,305 33,520
Kinepolis Group NV 2,435 93,867
Lotus Bakeries 9 11,797
Melexis NV 1,922 114,688
Mobistar SA (I) 537 11,671
NV Bekaert SA 276 7,435
Nyrstar NV (I) 13,851 54,343
Recticel SA 1,276 7,301
Rezidor Hotel Group AB (I) 8,485 32,065
Sipef SA 356 20,305
Tessenderlo Chemie NV (I) 2,049 58,495
ThromboGenics NV (I) 1,612 8,822
Umicore SA 1,709 71,376
Van de Velde NV 556 30,830
Viohalco SA (I) 7,173 22,824
1,529,686
Bermuda - 0.6%
Catlin Group, Ltd. 29,759 313,476
Frontline, Ltd. (I) 3,470 7,792
Golden Ocean Group, Ltd. (L) 34,000 21,626
Hiscox, Ltd. 18,267 230,713
Hoegh LNG Holdings, Ltd. 2,568 29,359
602,966
Cambodia - 0.1%
NagaCorp, Ltd. 104,000 69,052
69,052
Canada - 7.6%
5N Plus, Inc. (I) 3,515 5,967
Absolute Software Corp. 3,900 31,162
Advantage Oil & Gas, Ltd. (I) 11,300 60,847
Aecon Group, Inc. 5,300 46,951
Ag Growth International, Inc. 1,100 44,693
AGF Management, Ltd., Class B 6,598 43,447
AGT Food & Ingredients, Inc. 1,218 26,061
Ainsworth Lumber Company, Ltd. (I) 633 1,744
AKITA Drilling, Ltd., Class A 700 5,748
Alamos Gold, Inc. 9,729 56,997
Alaris Royalty Corp. 330 8,603
Algonquin Power & Utilities Corp. 14,667 108,391
Alterra Power Corp. (I) 15,708 4,341
Altius Minerals Corp. (I) 3,100 30,987
Altus Group, Ltd. 1,118 17,266
Alvopetro Energy, Ltd. (I) 6,100 1,975
Artek Exploration, Ltd. (I) 4,000 8,053
Asanko Gold, Inc. (I) 6,600 9,380
ATS Automation Tooling Systems, Inc. (I) 8,247 88,425
AuRico Gold, Inc. 15,100 41,728
AutoCanada, Inc. 785 19,629
Avigilon Corp. (I) 600 9,981
B2Gold Corp. (I) 45,756 68,279
Badger Daylighting, Ltd. 1,722 36,764
Bankers Petroleum, Ltd. (I) 23,800 50,924
Bellatrix Exploration, Ltd. (I) 9,897 24,068
Birch Mountain Resources, Ltd. (I) 9,200 0
Birchcliff Energy, Ltd. (I) 9,700 51,925
Black Diamond Group, Ltd. 2,750 27,162
BlackPearl Resources, Inc. (I) 24,200 17,387
BMTC Group, Inc., Class A 500 6,143
Bonterra Energy Corp. 2,200 58,902
Boralex, Inc., Class A 1,600 16,776
Calfrac Well Services, Ltd. 6,414 42,235
Calvalley Petroleums, Inc., Class A 6,909 3,437
Canaccord Capital, Inc. 6,371 32,797
Canadian Energy Services & Technology Corp. 13,646 57,857
Canadian Western Bank 3,500 76,629
Canam Group, Inc. 2,800 27,413
CanElson Drilling, Inc. 6,283 19,248
Canexus Corp. 4,363 5,271
Canfor Pulp Products, Inc. 2,715 32,090
Canyon Services Group, Inc. 5,968 31,099
Capital Power Corp. 6,627 128,244
Capstone Infrastructure Corp. 7,754 21,734

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

International Small Company Trust (continued)

Shares or      
Principal
Amount Value
COMMON STOCKS (continued)
Canada (continued)
Capstone Mining Corp. (I) 29,467 $ 28,151
Cascades, Inc. 7,423 44,718
Cathedral Energy Services, Ltd. 2,500 4,343
Celestica, Inc. (I) 17,900 198,708
Centerra Gold, Inc. 13,742 67,053
Cequence Energy, Ltd. (I) 2,335 1,715
Chinook Energy, Inc. (I) 3,544 3,414
Cineplex, Inc. 1,000 39,383
Claude Resources, Inc. (I) 10,900 5,250
Cogeco, Inc. 545 23,761
Colabor Group, Inc. 649 548
COM DEV International, Ltd. 8,800 29,946
Computer Modelling Group, Ltd. 3,420 34,347
Copper Mountain Mining Corp. (I) 8,800 8,060
Corridor Resources, Inc. (I) 4,930 3,231
Corus Entertainment, Inc., B Shares 6,604 100,321
Cott Corp. 8,900 83,199
Crew Energy, Inc. (I) 11,300 42,468
DeeThree Exploration, Ltd. (I) 2,325 11,693
Delphi Energy Corp. (I) 20,245 23,337
Denison Mines Corp. (I)(L) 33,028 26,338
Descartes Systems Group, Inc. (I) 6,000 90,529
DH Corp. 3,075 93,934
DirectCash Payments, Inc. 500 6,553
Dominion Diamond Corp. (I) 7,361 125,768
Dorel Industries, Inc., Class B 3,200 88,859
Dundee Precious Metals, Inc. (I) 8,500 18,254
easyhome, Ltd. 46 739
Enbridge Income Fund Holdings, Inc. 1,692 49,830
Endeavour Silver Corp. (I) 9,243 17,442
EnerCare, Inc. 1,600 19,265
Enerflex, Ltd. 4,700 56,999
Energy Fuels, Inc. (I) 730 3,274
Enghouse Systems, Ltd. 1,100 43,599
Ensign Energy Services, Inc. 5,300 41,553
Epsilon Energy, Ltd. (I) 3,000 9,356
Equitable Group, Inc. 400 17,847
Essential Energy Services, Ltd. 7,268 5,911
Evertz Technologies, Ltd. 1,712 23,466
Exco Technologies, Ltd. 2,900 34,002
Exeter Resource Corp. (I) 230 120
Extendicare, Inc. 3,869 22,941
Fiera Capital Corp. 1,035 11,261
Firm Capital Mortgage Investment Corp. 1,100 10,596
First Majestic Silver Corp. (I) 8,662 46,711
First National Financial Corp. 700 11,336
FirstService Corp. 1,700 110,023
Forsys Metals Corp. (I) 400 79
Fortuna Silver Mines, Inc. (I) 12,299 46,417
Gamehost, Inc. 100 955
Glacier Media, Inc. 6,100 5,972
GLENTEL, Inc. 1,400 26,098
Gluskin Sheff + Associates, Inc. 2,500 52,821
GMP Capital, Inc. 3,026 13,762
Golden Star Resources, Ltd. (I)(L) 27,300 6,682
Gran Tierra Energy, Inc. (I) 19,353 52,869
Great Canadian Gaming Corp. (I) 3,900 71,007
Great Panther Silver, Ltd. (I) 14,100 8,015
Guyana Goldfields, Inc. (I) 6,600 15,372
Hanfeng Evergreen, Inc. (I) 200 1
Heroux-Devtek, Inc. (I) 1,600 12,633
High Liner Foods, Inc. 700 13,497
Horizon North Logistics, Inc. 8,109 14,854
HudBay Minerals, Inc. 18,257

 

 149,337
IAMGOLD Corp. (I) 17,528 32,660
IMAX Corp. (I) 2,613 88,084
IMAX Corp. (I) 1,800 60,678
Imperial Metals Corp. (I) 4,600 44,745
Innergex Renewable Energy, Inc. 7,256 64,164
Interfor Corp. (I) 6,220 94,045
International Tower Hill Mines, Ltd. (I) 2,300 863
Intertape Polymer Group, Inc. 4,500 62,283
Just Energy Group, Inc. (L) 11,140 52,070
K-Bro Linen, Inc. 600 24,857
KAB Distribution, Inc. (I) 7,076 1
Katanga Mining, Ltd. (I) 87,256 17,568
Kelt Exploration, Ltd. (I) 94 562
Killam Properties, Inc. 3,556 31,024
Kingsway Financial Services, Inc. (I) 2,025 11,448
Kirkland Lake Gold, Inc. (I) 4,664 20,033
Knight Therapeutics, Inc. (I) 1,000 6,458
Lake Shore Gold Corp. (I) 40,100 32,611
Laurentian Bank of Canada 3,414 127,363
Legacy Oil + Gas, Inc. (I) 15,246 18,538
Leisureworld Senior Care Corp. 1,555 18,207
Leon’s Furniture, Ltd. 3,283 37,870
Lightstream Resources, Ltd. 12,560 8,826
Liquor Stores N.A., Ltd. 1,500 17,244
Long Run Exploration, Ltd. 6,886 3,751
Lucara Diamond Corp. 6,159 8,656
MacDonald Dettwiler & Associates, Ltd. 598 46,341
Major Drilling Group International, Inc. 6,800 36,884
Manitoba Telecom Services, Inc. 2,120 40,189
Maple Leaf Foods, Inc. 5,795 106,058
Martinrea International, Inc. 7,093 70,451
Medical Facilities Corp. 500 6,751
Migao Corp. (I) 3,000 1,990
Mitel Networks Corp. (I) 7,200 73,106
Mood Media Corp. (I) 3,135 1,559
Morneau Shepell, Inc. 3,098 42,438
MTY Food Group, Inc. 500 13,667
Mullen Group, Ltd. 6,982 110,748
Nautilus Minerals, Inc. (I) 24,663 8,665
Nevsun Resources, Ltd. 10,158 34,246
Newalta Corp. 5,900 65,217
Norbord, Inc. (L) 2,240 47,150
North American Palladium, Ltd. (I) 7,400 1,548
Northland Power, Inc. 6,702 91,597
NuVista Energy, Ltd. (I) 9,573 57,594
Osisko Gold Royalties, Ltd. 395 5,221
Painted Pony Petroleum, Ltd. (I) 7,448 34,813
Pan American Silver Corp. 5,400 47,411
Parex Resources, Inc. (I) 8,116 51,712
Parkland Fuel Corp. 4,409 86,575
Pason Systems, Inc. 6,600 104,012
Perpetual Energy, Inc. (I) 1,456 1,242
PHX Energy Services Corp. 1,500 8,326
Pilot Gold, Inc. (I) 3,109 1,964
Platinum Group Metals, Ltd. (I) 5,000 2,724
Polymet Mining Corp. (I) 11,854   14,881
Premium Brands Holdings Corp. 1,400 32,199
Primero Mining Corp. (I) 8,118 27,369
Pulse Seismic, Inc. 2,882   6,553
QLT, Inc. (I) 100 394
Questerre Energy Corp., Class A (I) 19,444 4,606
Reitmans Canada, Ltd. 154 704

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

International Small Company Trust (continued)

Shares or      
Principal
Amount Value
COMMON STOCKS (continued)
Canada (continued)
Reitmans Canada, Ltd., Class A 3,200 $ 16,195
Richelieu Hardware, Ltd. 1,800 89,549
Richmont Mines, Inc. (I) 2,000 6,395
RMP Energy LLC (I) 10,900 24,613
Rocky Mountain Dealerships, Inc. 100 687
Rogers Sugar, Inc. 4,174 14,896
RONA, Inc. 11,109 142,091
Rubicon Minerals Corp. (I) 15,700 14,255
Russel Metals, Inc. 7,189 136,452
Sabina Gold & Silver Corp. (I) 2,375 647
Sandstorm Gold, Ltd. (I) 9,631 31,177
Sandvine Corp. (I) 11,600 33,521
Savanna Energy Services Corp. 5,561 7,464
Scorpio Mining Corp. (I) 8,900 1,300
Secure Energy Services, Inc. 7,537 96,165
SEMAFO, Inc. (I) 18,836 56,811
ShawCor, Ltd. 90 2,501
Sherritt International Corp. 33,600 55,445
Sierra Wireless, Inc. (I) 3,200   106,039
Silver Standard Resources, Inc. (I) 7,745   34,978
Sprott Resource Corp. (I) 9,300 6,829
Sprott, Inc. 9,900 21,105
Stuart Olson, Inc. 1,600 6,809
Student Transportation, Inc. (L) 5,290 28,652
SunOpta, Inc. (I) 5,308 56,242
Superior Plus Corp. (L) 8,082 90,548
Surge Energy, Inc. (L) 16,100 37,118
Taseko Mines, Ltd. (I) 16,100 10,169
Tembec, Inc. (I) 3,200 7,378
Teranga Gold Corp. (I) 12,432 5,832
The North West Company, Inc. 2,983 58,951
Timminco, Ltd. (I) 8,700 14
Timmins Gold Corp. (I) 6,378 4,381
TLC Vision Corp. (I) 3,400 28
TORC Oil & Gas, Ltd. 4,180 32,244
Toromont Industries, Ltd. 6,068 156,856
Torstar Corp., Class B 6,800 34,576
Total Energy Services, Inc. 6,209 68,926
Transcontinental, Inc., Class A 5,983 82,667
TransForce, Inc. 6,418 152,019
Transglobe Energy Corp. 5,600 19,941
Transition Therapeutics, Inc. (I) 2,700 17,054
Trican Well Service, Ltd. 10,563 28,773
Trinidad Drilling, Ltd. 11,797 37,909
Twin Butte Energy, Ltd. 10,892 6,192
Uni-Select, Inc. 1,900 65,526
Valener, Inc. 827 11,309
Vecima Networks, Inc. 479 4,047
Wajax Corp. 1,300 24,829
Wesdome Gold Mines, Ltd. (I) 8,000 7,264
Western Energy Services Corp. 2,046 10,032
Western Forest Products, Inc. 18,750 29,164
Westshore Terminals Investment Corp. 2,489 61,373
Whistler Blackcomb Holdings, Inc. 1,000 14,267
Wi-LAN, Inc. 9,800 24,141
Winpak, Ltd. 1,377 43,271
WSP Global, Inc. 2,473 81,851
Xtreme Drilling & Coil Services Corp. (I) 3,452 4,524
Zargon Oil & Gas, Ltd. 1,173 2,667
ZCL Composites, Inc. 3,500 18,239
Zenith Epigenetics Corp. (I) 1,700 577
8,156,272
Cayman Islands - 0.0%
Endeavour Mining Corp. (I) 31,825 14,825
14,825
China - 0.0%
Bund Center Investment, Ltd. 152,000 21,633
China Gold
       International Resources Corp., Ltd. (I) 12,500 14,607
Xinyi Solar Holdings, Ltd. 33,000 10,229
46,469
Cyprus - 0.0%
Prosafe SE 9,426 25,884
Songa Offshore (I) 30,800 5,503
31,387
Denmark - 2.0%
ALK-Abello A/S 491 52,651
Alm Brand A/S (I) 7,955 51,774
Amagerbanken A/S (I) 25,580 0
Ambu A/S 1,232 28,423
Auriga Industries A/S, Class B (I) 1,383 62,139
Bang & Olufsen A/S (I)(L) 3,937 36,195
Bavarian Nordic A/S (I) 2,329 118,975
D.S. Norden A/S (L) 2,246 47,841
Dfds A/S 551 58,514
East Asiatic Company, Ltd. A/S 800 8,925
FLSmidth & Company A/S (L) 2,430 109,191
Genmab A/S (I) 3,300 247,668
GN Store Nord A/S 7,647 170,734
IC Group A/S 807 18,714
Jyske Bank A/S (I) 1,492 62,724
Lan & Spar Bank A/S 225 13,907
NKT Holding A/S 2,489 159,313
PER Aarsleff A/S, Class B 138 38,240
Ringkjoebing Landbobank A/S 386 73,872
Rockwool International A/S, B Shares 501 58,410
Royal Unibrew A/S 750 125,704
Schouw & Company 1,093 52,395
SimCorp A/S 4,516 147,988
Solar A/S, B Shares 603 27,511
Spar Nord Bank A/S 8,852 85,089
Sydbank A/S 5,133 160,676
Topdanmark A/S (I) 6,093 182,309
Vestjysk Bank A/S (I) 155 218
2,200,100
Faroe Islands - 0.0%
Bakkafrost P/F 2,180 47,139
47,139
Finland - 2.4%
Ahlstrom OYJ 63 530
Alma Media OYJ (I) 4,110 12,666
Amer Sports OYJ 13,005 279,365
Apetit OYJ 696 10,542
Atria OYJ 1,021 10,918
BasWare OYJ 538 23,089
Cargotec OYJ, B Shares 4,313 149,132
Caverion Corp. 17,750 179,933
Citycon OYJ (I) 7,889 25,603
Cramo OYJ 2,993 53,439
Elektrobit OYJ 5,761 24,159
Elisa OYJ 302 7,584
F-Secure OYJ 7,159 20,709
Finnair OYJ (I) 3,281 11,299

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

International Small Company Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)    
Finland (continued)    
Finnlines OYJ (I) 4,379 $ 75,240
Fiskars OYJ Abp (L) 3,512   67,120
HKScan OYJ, A Shares 316   1,975
Huhtamaki OYJ 7,095   220,700
Ilkka-Yhtyma OYJ 1,535   3,952
Kemira OYJ 8,272   102,447
Kesko OYJ 1,660   70,867
Konecranes OYJ (L) 4,353   137,167
Lassila & Tikanoja OYJ 912   16,952
Metsa Board OYJ 37,119   227,636
Metso OYJ 693   20,247
Nokian Renkaat OYJ 5,661   168,707
Olvi OYJ, A Shares 1,172   30,097
Oriola-KD OYJ, B Shares (I) 9,290   37,845
Orion OYJ, Class A 61   1,708
Orion OYJ, Class B (L) 1,589   44,790
Outokumpu OYJ (I) 2,046   16,260
Outotec OYJ (L) 13,940   85,325
PKC Group OYJ 1,616   35,867
Poyry OYJ (I) 2,864   9,059
Raisio OYJ 8,267   35,829
Ramirent OYJ (L) 4,765   33,766
Rapala VMC OYJ 2,298   12,614
Sanoma OYJ 1,738   9,584
Stockmann OYJ Abp, B Shares (I) 3,940   31,148
Technopolis OYJ 5,548   24,931
Tieto OYJ 4,223   99,235
Tikkurila OYJ 2,068   39,435
Uponor OYJ 4,437   74,968
Vaisala OYJ, A Shares 206   5,804
YIT OYJ (L) 12,581   68,959
  2,619,202
France - 3.8%    
ABC Arbitrage 1,757   9,583
Air France-KLM (I)(L) 2,943   25,877
Akka Technologies SA 452   14,592
Albioma SA 1,834   35,023
Alten SA 1,830   83,953
Altran Technologies SA 10,778   107,841
APRIL SA 1,212   16,373
Assystem 1,693   35,880
Beneteau SA 2,042   28,781
BioMerieux 385   37,306
Boiron SA 604   64,797
Bonduelle S.C.A. 1,470   37,937
Bongrain SA 189   11,778
Burelle SA 28   19,209
Cegedim SA (I) 186   6,303
Cegid Group 446   17,283
Cie des Alpes 105   1,916
Derichebourg SA (I) 3,125   9,576
Electricite de Strasbourg SA 81   10,042
Eramet (I) 341   31,171
Etablissements Maurel et Prom (I) 7,666   55,992
Faiveley Transport SA 600   35,318
Faurecia 3,465   151,095
Fimalac 937   78,528
GameLoft SE (I) 4,378   22,600
GL Events 213   4,343
Groupe Crit 163   8,539
Groupe Fnac (I) 243   15,134
Guerbet 272   10,699
Haulotte Group SA 962   15,924
Interparfums SA 692 22,734
Ipsen SA 50   2,366
IPSOS 2,286   63,971
Jacquet Metal Service 1,278   26,731
Korian-Medica 1,760   59,599
Lagardere SCA 7,152   214,955
Lectra 2,262   31,965
LISI 1,205   32,777
Manitou BF SA (I) 880   14,657
Mersen 1,171   30,559
Metropole Television SA 4,400   88,239
Montupet 737   52,641
Naturex 388   21,159
Neopost SA 2,259   124,179
Nexans SA (I) 2,392   80,885
Nexity SA 2,360   98,693
NextRadioTV 203   6,230
Norbert Dentressangle SA 282   47,724
Orpea 2,836   178,634
Parrot SA (I) 755   16,749
Pierre & Vacances SA (I) 142   4,252
Plastic Omnium SA 4,529   119,359
Rallye SA 1,771   66,639
Recylex SA (I) 3,196   7,112
Robertet SA 135   26,238
Rubis SCA 2,816   178,779
Saft Groupe SA 2,157   78,831
Sartorius Stedim Biotech 289   61,425
SEB SA 1,454   104,867
Seche Environnement SA 335   10,978
Societe d’Edition de Canal + 4,916   32,942
Societe Internationale de    
       Plantations d’Heveas SA 50   1,806
Societe Television Francaise 1 8,404   148,385
SOITEC (I) 26,447   25,162
Solocal Group (I) 52,077   34,527
Somfy SA 271   65,981
Sopra Steria Group 1,200   89,374
Stef SA 804   48,645
Synergie SA 557   12,414
Technicolor SA (I) 12,585   81,213
Teleperformance 4,507   308,871
Theolia SA (I) 4,793   3,544
Thermador Groupe 96   8,408
Trigano SA 613   20,797
UBISOFT Entertainment (I) 7,613   140,571
Valneva SE (I) 1,912   7,948
Vetoquinol SA 56   2,172
Vicat 878   64,266
VIEL & Cie SA 5,712   17,337
Vilmorin & Cie SA 734   59,566
Virbac SA 350   82,664
  4,133,913
Gabon - 0.0%    
Total Gabon 20   6,183
  6,183
Georgia - 0.0%    
Bank of Georgia Holdings PLC 252   6,464
  6,464
Germany - 5.4%    
Aareal Bank AG 4,192   176,680

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

International Small Company Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)    
Germany (continued)    
ADVA Optical Networking SE (I) 2,463 $ 11,589
Amadeus Fire AG 558   44,081
Aurubis AG 5,323   300,633
Balda AG (I) 2,487   7,584
Bauer AG (I) 314   6,038
BayWa AG 921   36,031
Bechtle AG 1,391   99,127
Bertrandt AG 483   70,262
Bijou Brigitte AG 340   20,817
Bilfinger SE 212   12,254
Biotest AG 238   25,050
Borussia Dortmund GmbH & Company KGaA 5,769   21,917
CANCOM SE 1,347   54,040
Carl Zeiss Meditec AG 1,949   51,038
CENTROTEC Sustainable AG 476   7,539
Cewe Stiftung & Company KGaA 626   39,727
Comdirect Bank AG 2,610   26,140
CompuGroup Medical AG 739   21,373
CTS Eventim AG & Company KGaA 3,354   105,443
Delticom AG 491   10,121
Deutsche Annington Immobilien SE 604   20,353
Deutsche Beteiligungs AG 423   13,752
Deutz AG 4,916   20,667
Dialog Semiconductor PLC (I) 5,567   250,411
DMG MORI SEIKI AG 5,880   193,392
Draegerwerk AG & Company KGaA 82   7,295
Drillisch AG 3,170   123,654
Duerr AG 2,207   242,370
Elmos Semiconductor AG 566   10,977
ElringKlinger AG 2,576   77,230
Evotec AG (I) 2,885   11,578
Freenet AG 9,134   274,489
Gerresheimer AG 2,768   152,347
Gerry Weber International AG 2,449   84,505
Gesco AG 295   24,249
GFK SE 361   13,327
GFT Technologies AG 961   18,893
Grammer AG 1,191   43,912
Grenkeleasing AG 129   14,882
Hamburger Hafen und Logistik AG 2,218   46,545
Heidelberger Druckmaschinen AG (I)(L) 25,560   68,225
Homag Group AG 498   19,197
Hornbach Baumarkt AG 249   9,325
Indus Holding AG 2,123   105,576
Init Innovation In Traffic Systems AG 106   2,589
Isra Vision AG 212   14,524
Jenoptik AG 5,491   73,929
Kloeckner & Company SE (I) 7,645   72,816
Kontron AG (I) 4,988   31,920
Krones AG 1,102   114,403
KUKA AG 2,124   162,762
KWS Saat AG 206   60,086
Leoni AG 3,125   197,399
LPKF Laser & Electronics AG 2,164   24,091
Manz AG (I)(L) 233   19,914
Medigene AG (I) 760   10,034
MLP AG 5,864   24,396
MTU Aero Engines AG 974   95,422
Muehlbauer Holding AG 156   3,028
MVV Energie AG 884   22,696
Nemetschek AG 498   64,409
Nordex SE (I) 5,058   102,099
Norma Group SE 2,413   121,149
OHB SE 399   9,067
PATRIZIA Immobilien AG (I) 3,789   67,839
Pfeiffer Vacuum Technology AG 598   50,794
PNE Wind AG 4,544   11,109
Puma SE 194   35,966
QSC AG 6,549   13,696
Rational AG 170   56,824
Rheinmetall AG 3,081   148,193
Rhoen Klinikum AG 2,825   70,137
SAF-Holland SA 4,007   64,153
Salzgitter AG 2,631   76,283
Schaltbau Holding AG 493   25,007
SHW AG 14   668
Singulus Technologies AG (I) 4,168   6,247
Sixt SE 1,292   57,407
SMA Solar Technology AG (I) 916   11,699
Software AG 4,608   119,690
STADA Arzneimittel AG 4,642   154,460
STRATEC Biomedical AG 58   2,840
Stroeer Media SE 2,153   73,506
Suedzucker AG 666   8,132
Suss Microtec AG (I) 2,259   13,802
TAG Immobilien AG 365   5,034
Takkt AG 2,476   45,304
Tom Tailor Holding AG (I) 710   8,938
TUI AG 12,516   219,215
Vossloh AG 716   43,774
VTG AG 1,231   30,227
Wacker Neuson SE 1,547   38,616
Wincor Nixdorf AG 2,415   113,174
XING AG 155   26,692
  5,820,794
Gibraltar - 0.1%    
888 Holdings PLC 12,231   27,525
Bwin.Party Digital Entertainment PLC 46,527   55,155
  82,680
Greece - 0.0%    
Alapis Holding Industrial & Commercial SA (I) 3,303   146
TT Hellenic Postbank SA (I) 12,594   0
  146
Guernsey, Channel Islands - 0.0%    
Raven Russia, Ltd. (I) 6,649   4,864
Tethys Petroleum, Ltd. (I) 5,500   565
  5,429
Hong Kong - 3.2%    
Allied Group, Ltd. 26,000   116,308
Allied Properties HK, Ltd. 282,000   55,332
APAC Resources, Ltd. (I) 68,431   1,098
APT Satellite Holdings, Ltd. 21,500   24,371
Asia Satellite    
       Telecommunications Holdings, Ltd. 2,500   9,187
Associated International Hotels, Ltd. 44,000   127,700
Bonjour Holdings, Ltd. 162,800   13,444
Brightoil Petroleum Holdings, Ltd. (I) 82,000   27,807
Brockman Mining, Ltd. (I) 740,840   23,449
Cafe de Coral Holdings, Ltd. 18,000   64,432
Capital Strategic Investment, Ltd. 245,066   8,683
Champion Technology Holdings, Ltd. (I) 545,220   9,682
Chen Hsong Holdings 10,000   2,708
Cheuk Nang Holdings, Ltd. 3,176   2,859
China Billion Resources, Ltd. (I) 97,920   0

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

International Small Company Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)    
Hong Kong (continued)    
China Electronics Corp.    
       Holdings Company, Ltd. 56,000 $ 16,451
China Energy Development Holdings, Ltd. (I) 634,000   12,392
China Metal International Holdings, Inc. 12,000   3,751
China Renji Medical Group, Ltd. (I) 99,900   2,718
China Sci-Tech Holdings, Ltd. (I) 2,210,240   13,666
China Solar Energy Holdings, Ltd. (I) 42,500   987
Chow Sang Sang Holdings International, Ltd. 22,000   47,727
Chuang’s Consortium International, Ltd. 30,948   3,875
CITIC Telecom International Holdings, Ltd. 112,000   40,299
CK Life Sciences International Holdings, Inc. 416,000   39,693
CP Lotus Corp. (I) 220,000   4,980
Dah Sing Banking Group, Ltd. 34,400   59,605
Dah Sing Financial Holdings, Ltd. 15,720   92,877
Dickson Concepts International, Ltd. 29,000   12,527
EganaGoldpfeil Holdings, Ltd. (I) 103,373   0
Emperor Entertainment Hotel, Ltd. 40,000   8,562
Emperor International Holdings, Ltd. 97,333   21,709
Esprit Holdings, Ltd. 92,300   93,630
eSun Holdings, Ltd. (I) 74,000   6,883
Far East Consortium International, Ltd. 116,912   44,423
Future Bright Holdings, Ltd. 6,000   1,069
G-Resources Group, Ltd. (I) 2,014,800   58,900
Get Nice Holdings, Ltd. 591,000   23,640
Giordano International, Ltd. 100,000   48,917
Glorious Sun Enterprises, Ltd. 64,000   13,123
Haitong International Securities Group, Ltd. 51,598   35,783
Hang Fung Gold Technology, Ltd. (I) 90,000   0
Harbour Centre Development, Ltd. 46,000   82,848
HKR International, Ltd. 75,200   38,172
Hong Kong Aircraft    
       Engineering Company, Ltd. 2,000   21,599
Hong Kong Ferry Holdings Company, Ltd. 29,000   37,298
Hongkong Chinese, Ltd. 4,000   683
Hopewell Holdings, Ltd. 10,000   37,529
Hsin Chong Construction Group, Ltd. 170,000   19,039
Hung Hing Printing Group, Ltd. 82,000   11,228
Hutchison Telecommunications Hong    
       Kong Holdings, Ltd. 136,000   62,980
Imagi International Holdings, Ltd. (I) 106,250   2,674
IT, Ltd. 44,601   14,839
Johnson Electric Holdings, Ltd. 10,500   36,833
K Wah International Holdings, Ltd. 159,169   78,640
Kowloon Development Company, Ltd. 22,000   25,526
Lai Sun Development Company, Ltd. 766,000   16,994
Lifestyle International Holdings, Ltd. 37,500   66,814
Lippo China Resources, Ltd. 36,000   1,368
Liu Chong Hing Investment, Ltd. 16,000   20,035
Luk Fook Holdings International, Ltd. 30,000   83,655
Man Wah Holdings, Ltd. 44,800   43,022
Midland Holdings, Ltd. (I) 48,000   21,081
Natural Beauty Bio-Technology, Ltd. 20,000   1,683
New Times Energy Corp., Ltd. (I) 39,450   1,118
Newocean Energy Holdings, Ltd. 106,000   52,418
Orient Overseas International, Ltd. 2,500   15,260
Pacific Andes International Holdings, Ltd. (I) 328,006   9,678
Pacific Basin Shipping, Ltd. 166,000   54,819
Pacific Textiles Holdings, Ltd. 54,000   74,742
Paliburg Holdings, Ltd. 46,000   16,015
Paradise Entertainment, Ltd. 52,000   12,992
Peace Mark Holdings, Ltd. (I) 164,000   0
Pearl Oriental Oil, Ltd. (I) 186,000   5,015
Pico Far East Holdings, Ltd. 100,000   23,114
Playmates Holdings, Ltd. 7,800 7,943
Playmates Toys, Ltd. 8,000   1,955
Polytec Asset Holdings, Ltd. 150,000   20,693
PYI Corp., Ltd. 372,000   7,812
Regal Hotels International Holdings, Ltd. 36,000   22,298
SA SA International Holdings, Ltd. (L) 82,000   40,090
SEA Holdings, Ltd. 4,000   2,968
Shun Tak Holdings, Ltd. 144,250   69,703
Sing Tao News Corp., Ltd. 108,000   14,584
Singamas Container Holdings, Ltd. 114,000   18,545
Sitoy Group Holdings, Ltd. 14,000   8,940
SmarTone Telecommunications Holdings, Ltd. 39,500   75,432
SOCAM Development, Ltd. (I) 16,674   14,667
South China China, Ltd. (I) 256,000   25,230
Stella International Holdings, Ltd. 25,000   59,620
Sun Hung Kai & Company, Ltd. 25,000   22,247
TAI Cheung Holdings, Ltd. 46,000   37,413
Tao Heung Holdings, Ltd. 14,000   6,290
Television Broadcasts, Ltd. 19,100   118,014
Texwinca Holdings, Ltd. 60,000   54,890
The Cross-Harbour Holdings, Ltd. 18,000   18,889
The United Laboratories    
       International Holdings, Ltd. (I) 42,000   19,677
Titan Petrochemicals Group, Ltd. (I) 500,000   15,866
Tradelink Electronic Commerce, Ltd. 50,000   11,170
Transport International Holdings, Ltd. 19,200   46,344
Trinity, Ltd. 74,000   15,188
Upbest Group, Ltd. 148,000   46,790
Value Partners Group, Ltd. 62,000   58,429
Varitronix International, Ltd. 18,000   12,256
Victory City International Holdings, Ltd. 105,827   15,155
Vitasoy International Holdings, Ltd. 86,000   134,344
VST Holdings, Ltd. 75,200   26,977
Wai Kee Holdings, Ltd. 68,000   23,077
Willie International Holdings, Ltd. (I) 640,000   11,569
Wing Tai Properties, Ltd. 102,000   63,022
Xinyi Glass Holdings Company, Ltd. 159,000   98,103
YGM Trading, Ltd. 10,000   16,135
Yugang International, Ltd. 312,000   3,974
  3,451,257
India - 0.0%    
Vedanta Resources PLC 2,671   19,735
  19,735
Ireland - 1.6%    
Aer Lingus Group PLC 15,850   39,685
Beazley PLC 47,871   203,647
C&C Group PLC 31,161   127,559
DCC PLC 6,369   379,375
FBD Holdings PLC 1,839   19,809
Glanbia PLC 1,225   22,702
Grafton Group PLC 18,960   227,908
Greencore Group PLC 29,617   141,498
IFG Group PLC 8,615   17,498
Irish Continental Group PLC 8,389   37,366
Kingspan Group PLC 10,256   194,344
Paddy Power PLC 1,618   138,756
UDG Healthcare PLC 20,187   141,705
  1,691,852
Isle of Man - 0.0%    
Hansard Global PLC 6,816   8,273

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

International Small Company Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)    
Isle of Man (continued)    
Playtech PLC 1,049 $ 12,066
  20,339
Israel - 0.7%    
Africa Israel Investments, Ltd. (I) 7,409   6,518
Airport City, Ltd. (I) 1,528   15,999
Amot Investments, Ltd. 883   2,915
Cellcom Israel, Ltd. (I) 825   3,960
Cellcom Israel, Ltd. (I) 1,966   9,483
Ceragon Networks, Ltd. (I) 220   239
Clal Biotechnology Industries, Ltd. (I) 3,950   5,264
Clal Insurance Enterprises Holdings, Ltd. (I) 2,775   41,901
Compugen, Ltd. (I) 1,251   9,015
Delek Automotive Systems, Ltd. 4,159   48,892
Delta-Galil Industries, Ltd. 618   18,320
Electra, Ltd. 37   4,331
EZchip Semiconductor, Ltd. (I)(L) 900   17,208
Frutarom Industries, Ltd. 2,853   106,655
Gilat Satellite Networks, Ltd. (I) 215   1,307
Hadera Paper, Ltd. (I) 244   4,331
Harel Insurance Investments &    
       Financial Services, Ltd. 10,502   48,825
Israel Discount Bank, Ltd., A Shares (I) 638   1,077
Ituran Location and Control, Ltd. 1,195   26,296
Jerusalem Oil Exploration (I) 782   26,041
Kamada, Ltd. (I) 1,616   7,137
Matrix IT, Ltd. 2,095   10,506
Mazor Robotics, Ltd. (I) 891   5,004
Melisron, Ltd. 420   15,954
Menorah Mivtachim Holdings, Ltd. 1,766   16,172
Mivtach Shamir Holdings, Ltd. (I) 397   9,745
Naphtha Israel Petroleum Corp., Ltd. (I) 2,030   10,505
Nitsba Holdings 1995, Ltd. (I) 2,317   37,156
Nova Measuring Instruments, Ltd. (I) 376   4,334
Oil Refineries, Ltd. (I) 53,675   18,853
Partner Communications Company, Ltd. (I) 2,939   8,146
Paz Oil Company, Ltd. 378   55,229
Rami Levi Chain Stores Hashikma    
       Marketing 2006, Ltd. 711   28,514
Shikun & Binu, Ltd. 16,067   35,626
Shufersal, Ltd. (I)(L) 9,143   20,463
The Phoenix Holdings, Ltd. 2,821   8,237
Tower Semiconductor, Ltd. (I) 2,675   45,535
  735,693
Italy - 4.2%    
A2A SpA 67,835   70,437
ACEA SpA 8,580   110,087
Amplifon SpA 9,264   62,936
Ansaldo STS SpA 10,934   110,784
Arnoldo Mondadori Editore SpA (I) 12,613   15,178
Ascopiave SpA 2,314   5,881
Astaldi SpA 4,499   38,038
Autogrill SpA (I) 9,730   94,251
Azimut Holding SpA 15,042   428,758
Banca Generali SpA 4,148   130,062
Banca IFIS SpA 1,301   27,148
Banca Popolare dell’Emilia Romagna SC (I) 28,867   251,058
Banca Popolare dell’Etruria e del Lazio SC (I) 13,061   8,188
Banca Popolare di Milano Scarl (I) 205,710   207,569
Banca Popolare di Sondrio Scarl 17,792   80,768
Banca Profilo SpA 24,032   9,755
Banco Popolare SC (I) 9,557   148,775
Biesse SpA 1,877   32,203
Brembo SpA 2,573 105,142
Buzzi Unicem SpA 4,611   69,043
Cairo Communication SpA 2,348   13,931
Cementir Holding SpA 6,150   46,047
CIR-Compagnie Industriali Riunite SpA (I) 39,165   45,589
Credito Emiliano SpA 9,474   82,295
Credito Valtellinese SC (I) 79,817   107,050
Danieli & C Officine Meccaniche SpA 2,311   57,477
Datalogic SpA 981   11,259
Davide Campari-Milano SpA 9,928   69,261
De’Longhi SpA 2,796   60,519
DeA Capital SpA (I) 4,665   9,276
DiaSorin SpA 2,304   101,204
Ei Towers SpA (I) 1,086   57,880
Engineering SpA 449   27,378
ERG SpA 6,865   89,687
Esprinet SpA 3,554   31,986
Eurotech SpA (I) 1,562   3,239
Falck Renewables SpA 20,060   25,896
Geox SpA (I) 8,390   32,442
Gruppo Editoriale L’Espresso SpA (I) 18,304   24,464
GTECH SpA 975   19,314
Hera SpA 62,355   146,347
IMMSI SpA (I) 6,756   4,698
Industria Macchine Automatiche SpA 235   11,057
Interpump Group SpA 6,839   111,250
Iren SpA 48,658   66,602
Italcementi SpA 8,870   70,681
Italmobiliare SpA 827   27,031
Juventus Football Club SpA (I) 23,150   6,458
Landi Renzo SpA (I) 3,939   4,214
Maire Tecnimont SpA (I) 10,323   28,658
MARR SpA 2,608   44,656
Piaggio & C SpA 17,916   54,595
Prysmian SpA 4,048   83,428
Recordati SpA 11,787   220,121
Reply SpA 376   36,722
Safilo Group SpA (I) 2,378   37,341
Salvatore Ferragamo SpA 165   5,279
Saras SpA (I) 23,795   41,343
Save SpA 841   11,582
Societa Cattolica di Assicurazioni SCRL 14,793   128,697
Societa Iniziative Autostradali e Servizi SpA 5,263   61,256
Sogefi SpA (I) 3,551   11,673
SOL SpA 2,802   22,731
Sorin SpA (I) 28,116   85,865
Trevi Finanziaria Industriale SpA 9,838   30,481
Unipol Gruppo Finanziario SpA 18,195   96,598
Vittoria Assicurazioni SpA 2,112   22,047
World Duty Free SpA (I) 4,187   45,024
Yoox SpA (I) 3,137   86,501
Zignago Vetro SpA 1,669   10,176
  4,535,367
Japan - 22.7%    
Accordia Golf Company, Ltd. 7,900   75,828
Achilles Corp. 10,000   12,474
Adastria Holdings Company, Ltd. 1,810   50,026
ADEKA Corp. 8,700   112,369
Advan Company, Ltd. 500   6,354
Aeon Delight Company, Ltd. 200   4,782
Ai Holdings Corp. 3,400   62,013
Aica Kogyo Company, Ltd. 4,700   109,442
Aichi Corp. 3,200   16,199

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

International Small Company Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Japan (continued)  
Aichi Steel Corp. 10,000 $ 47,457
Aida Engineering, Ltd. 4,500 51,602
Ain Pharmaciez, Inc. 400 15,844
Aiphone Company, Ltd. 1,300 19,974
Airport Facilities Company, Ltd. 1,200 6,731
Aisan Industry Company, Ltd. 2,500 21,508
Akebono Brake Industry Company, Ltd. 2,300 8,422
Alpen Company, Ltd. 1,700 26,600
Alpha Systems, Inc. 840 11,920
Alpine Electronics, Inc. 3,300 54,882
Amano Corp. 6,100 72,799
Anest Iwata Corp. 1,800 11,542
Anritsu Corp. 9,800 68,433
AOKI Holdings, Inc. 4,000 56,537
Aoyama Trading Company, Ltd. 700 22,854
Arcland Sakamoto Company, Ltd. 1,200 25,749
Arcs Company, Ltd. 3,125 74,991
Ariake Japan Company, Ltd. 1,900 65,225
Arisawa Manufacturing Company, Ltd. 2,900 24,846
Arrk Corp. (I) 4,200 4,759
As One Corp. 1,400 42,355
Asahi Company, Ltd. 1,500 15,490
Asahi Diamond Industrial Company, Ltd. 5,000 57,065
Asahi Holdings, Inc. 1,800 30,812
Asahi Intecc Company, Ltd. 800 55,832
Asahi Organic Chemicals
       Industry Company, Ltd. 6,000 12,943
Asatsu-DK, Inc. 2,300 62,648
ASKA Pharmaceutical Company, Ltd. 1,600 15,973
Atom Corp. 2,000 13,089
Atsugi Company, Ltd. 12,000 11,896
Autobacs Seven Company, Ltd. 4,300 67,856
Avex Group Holdings, Inc. 3,400 54,232
Axell Corp. 100 1,315
Axial Retailing, Inc. 1,300 38,668
Bando Chemical Industries, Ltd. 5,000 19,328
Bank of the Ryukyus, Ltd. 3,000 43,023
Belc Company, Ltd. 800 23,198
Belluna Company, Ltd. 2,100 10,277
Bit-isle, Inc. 1,100 4,820
BML, Inc. 900 25,560
Bookoff Corp. 1,400 10,435
Broadleaf Company, Ltd. 500 9,778
Bunka Shutter Company, Ltd. 5,000 41,351
CAC Holdings Corp. 1,500 14,124
Calsonic Kansei Corp. 7,000 46,325
Can Do Company, Ltd. 900 11,816
Canon Electronics, Inc. 1,700 34,466
Capcom Company, Ltd. 1,600 31,785
Cawachi, Ltd. 1,400 24,381
Central Glass Co Ltd. 19,000 89,678
Chino Corp. 400 3,981
Chiyoda Company, Ltd. 2,600 58,551
Chiyoda Integre Company, Ltd. 800 19,324
Chofu Seisakusho Company, Ltd. 2,100 51,786
Chubu Shiryo Company, Ltd. 2,000 11,147
Chudenko Corp. 2,600 50,605
Chuetsu Pulp & Paper Company, Ltd. 5,000 9,961
Chugai Mining Company, Ltd. (I) 34,900 8,142
Chugai Ro Company, Ltd. 5,000 11,315
Chugoku Marine Paints, Ltd. 4,000 36,165
CKD Corp. 5,400 50,489
Clarion Company, Ltd. (L) 8,000 21,992
Cleanup Corp. 2,100 16,333
CMK Corp. 5,400   13,907
Coca-Cola West Company, Ltd. 600   9,914
Cocokara fine, Inc. 1,540   43,253
Colowide Company, Ltd. (L) 2,200   30,037
Conexio Corp. 1,900   17,136
COOKPAD, Inc. 400   18,269
Corona Corp. 300   2,896
Cosel Company, Ltd. 1,200   13,434
Cosmo Oil Company, Ltd. (I) 34,000   45,865
Dai Nippon Toryo Company, Ltd. 12,000   15,276
Dai-Dan Company, Ltd. 2,000   13,635
Daibiru Corp. 3,400   35,090
Daido Metal Company, Ltd. 3,000   31,227
Daidoh, Ltd. 2,000   8,569
Daifuku Company, Ltd. 6,500   85,803
Daihen Corp. 8,000   39,288
Daiichi Jitsugyo Company, Ltd. 4,000   20,075
Daiichikosho Company, Ltd. 1,100   34,169
Daiken Corp. 5,000   11,269
Daiken Medical Company, Ltd. 400   4,249
Daikoku Denki Company, Ltd. 800   11,561
Daikyo, Inc. 19,000   28,635
Dainichiseika Color & Chemicals    
       Manufacturing Company, Ltd. 7,000   35,953
Daio Paper Corp. 7,000   59,971
Daiseki Company, Ltd. 2,900   52,293
Daiso Company, Ltd. 7,000   24,456
Daisyo Corp. 800   9,373
Daiwa Industries, Ltd. 2,000   12,338
Daiwabo Holdings Company, Ltd. 17,000   27,309
DCM Japan Holdings Company, Ltd. 7,700   57,654
Denki Kogyo Company, Ltd. 5,000   23,727
Denyo Company, Ltd. 900   13,441
Descente, Ltd. 4,000   49,695
Doshisha Company, Ltd. 2,400   37,250
Doutor Nichires Holdings Company, Ltd. 2,900   48,562
Dr Ci:Labo Company, Ltd. 1,200   41,895
DTS Corp. 1,700   32,521
Dunlop Sports Company, Ltd. 1,300   13,135
Duskin Company, Ltd. 5,000   86,587
Dydo Drinco, Inc. 1,200   48,227
Eagle Industry Company, Ltd. 2,000   40,400
Edion Corp. 6,100   45,850
Eiken Chemical Company, Ltd. 1,400   22,967
Eizo Corp. 1,500   32,820
Elematec Corp. 700   17,235
En-Japan, Inc. 400   5,496
Enplas Corp. 100   4,000
EPS Company, Ltd. 1,800   21,280
ESPEC Corp. 1,600   15,983
Excel Company, Ltd. 900   9,621
Exedy Corp. 1,100   26,200
F@N Communications, Inc. 2,000   16,982
Fancl Corp. 2,600   33,174
FCC Company, Ltd. 2,800   43,638
FDK Corp. (I) 11,000   13,040
Feed One Holdings Company, Ltd. 15,040     14,277
Ferrotec Corp. 2,600     15,183
Fields Corp. 1,500     22,860
Financial Products Group Company, Ltd. 2,700     29,790
Foster Electric Company, Ltd. 2,100     52,315
FP Corp. 1,100     39,892

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

International Small Company Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)    
Japan (continued)    
France Bed Holdings Company, Ltd. 11,000 $ 16,397
Fudo Tetra Corp. 10,800   21,357
Fuji Company, Ltd. 2,100   36,097
Fuji Corp., Ltd. 100   553
Fuji Electronics Company, Ltd. 800   9,993
Fuji Kyuko Company, Ltd. 1,000   9,415
Fuji Oil Company, Ltd. 4,400   14,216
Fuji Oil Company, Ltd. 5,800   92,438
Fuji Seal International, Inc. 1,700   47,218
Fuji Soft, Inc. 1,800   36,423
Fujibo Holdings, Inc. 7,000   17,417
Fujicco Company, Ltd. 2,000   32,356
Fujikura Kasei Company, Ltd. 2,000   9,156
Fujikura, Ltd. 15,000   65,649
Fujimi, Inc. 500   8,613
Fujimori Kogyo Company, Ltd. 1,100   32,572
Fujisash Company, Ltd. (I) 4,900   6,150
Fujitec Company, Ltd. 5,000   48,831
Fujitsu General, Ltd. 5,000   65,494
Fukushima Industries Corp. 1,200   17,810
Funai Electric Company, Ltd. 2,600   29,931
Funai Soken Holdings, Inc. 2,000   18,866
Furukawa Company, Ltd. 19,000   33,461
Furukawa Electric Company, Ltd. 7,000   11,796
Furuno Electric Company, Ltd. 2,400   23,221
Fuso Pharmaceutical Industries, Ltd. 5,000   12,927
Futaba Corp. 2,900   46,621
Futaba Industrial Company, Ltd. 3,400   15,803
Future Architect, Inc. 200   1,213
Fuyo General Lease Company, Ltd. 1,700   68,300
G-Tekt Corp. 600   5,418
Gakken Holdings Company, Ltd. 4,000   8,529
Gecoss Corp. 400   4,291
Geo Holdings Corp. 3,900   41,229
GLOBERIDE, Inc. 10,000   15,960
GMO Internet, Inc. 2,600   31,942
GMO Payment Gateway, Inc. 600   14,165
Godo Steel, Ltd. 16,000   23,918
Goldcrest Company, Ltd. 1,690   29,376
Goldwin, Inc. 5,000   33,976
Gulliver International Company, Ltd. 5,500   45,231
Gun-Ei Chemical Industry Company, Ltd. 4,000   11,147
Gunze, Ltd. 13,000   34,744
Hakuto Company, Ltd. 1,300   15,528
Hamakyorex Company, Ltd. 500   17,406
Hanwa Company, Ltd. 14,000   56,782
Happinet Corp. 1,000   11,902
Harima Chemicals Group, Inc. 2,000   7,850
Harmonic Drive Systems, Inc. 100   2,203
Hazama Ando Corp. 10,090   57,645
Heiwa Real Estate Company, Ltd. 2,800   39,313
Heiwado Company, Ltd. 2,000   45,784
Hibiya Engineering, Ltd. 1,500   19,805
Hiday Hidaka Corp. 1,180   29,773
Higashi Nihon House Company, Ltd. 1,000   4,549
Hioki EE Corp. 500   8,354
Hiramatsu, Inc. 300   1,587
Hisaka Works, Ltd. 2,000   17,460
Hitachi Koki Company, Ltd. 5,700   46,360
Hitachi Kokusai Electric, Inc. 4,000   53,587
Hitachi Transport System, Ltd. 2,200   33,273
Hitachi Zosen Corp. 13,600   70,101
Hodogaya Chemical Company, Ltd. 7,000   11,763
Hogy Medical Company, Ltd. 1,200 58,917
Hokkaido Gas Company, Ltd. 3,000   7,103
Hokkan Holdings, Ltd. 5,000   11,543
Hokuetsu Industries Company, Ltd. 2,000   16,233
Hokuetsu Kishu Paper Company, Ltd. 9,500   42,540
Hokuto Corp. 1,600   29,813
Honeys Company, Ltd. 1,350   11,811
Hoosiers Holdings Company, Ltd. 1,500   7,555
Horiba, Ltd. 2,500   95,509
Hosiden Corp. 4,400   24,276
Hosokawa Micron Corp. 3,000   15,616
IBJ Leasing Company, Ltd. 1,900   39,294
Ichikoh Industries, Ltd. 4,000   8,588
Ichiyoshi Securities Company, Ltd. 2,800   30,297
Icom, Inc. 500   12,016
Idec Corp. 2,500   21,799
Ihara Chemical Industry Company, Ltd. 3,400   49,721
Iino Kaiun Kaisha, Ltd. 5,200   27,506
Ikegami Tsushinki Company, Ltd. (L) 4,000   6,063
Ikyu Corp. 200   3,506
Imasen Electric Industrial 1,700   20,100
Imperial Hotel, Ltd. 200   4,254
Inaba Denki Sangyo Company, Ltd. 1,600   57,920
Inaba Seisakusho Company, Ltd. 200   2,278
Inabata & Company, Ltd. 5,100   50,799
Inageya Company, Ltd. 2,900   33,040
Ines Corp. 2,700   20,420
Intage Holdings, Inc. 1,600   27,485
Internet Initiative Japan, Inc. 2,400   39,676
Inui Warehouse Company, Ltd. 875   7,324
Iriso Electronics Company, Ltd. 200   14,006
Iseki & Company, Ltd. 12,000   22,976
Ishihara Sangyo Kaisha, Ltd. (I) 32,000   30,843
IT Holdings Corp. 6,500   118,519
Itochu Enex Company, Ltd. 5,900   48,633
Itochu-Shokuhin Company, Ltd. 600   21,112
Itoham Foods, Inc. 12,000   66,291
IwaiCosmo Holdings, Inc. 900   12,680
Iwatani Corp. 11,000   72,061
J-Oil Mills, Inc. 9,000   31,317
Jalux, Inc. 1,000   17,864
Jamco Corp. 100   3,047
Janome Sewing Machine Company, Ltd. (I) 12,000   13,361
Japan Communications, Inc. (I)(L) 6,000   24,665
Japan Digital Laboratory Company, Ltd. 1,500   19,720
Japan Drilling Company, Ltd. 400   13,157
Japan Pulp & Paper Company, Ltd. 6,000   16,224
Japan Radio Company, Ltd. 3,000   10,103
Japan Transcity Corp. 5,000   15,452
Japan Vilene Company, Ltd. 2,000   9,889
Japan Wool Textile Company, Ltd. 4,000   28,906
Jastec Company, Ltd. 400   2,979
JBCC Holdings, Inc. 1,900   12,374
Jin Company, Ltd. 800   27,703
JMS Company, Ltd. 1,000   2,455
Joshin Denki Company, Ltd. 3,000   23,803
Jowa Holdings Company, Ltd. 300   11,560
JSP Corp. 800   14,883
Juki Corp. 3,000   9,785
JVC Kenwood Corp. 9,070   27,896
K&O Energy Group, Inc. 1,500   18,727
kabu.com Securities Company, Ltd. 5,700   37,389
Kadokawa Dwango (I) 3,636   56,999

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

International Small Company Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)    
Japan (continued)    
Kaga Electronics Company, Ltd. 1,100 $ 13,408
Kameda Seika Company, Ltd. 1,000   40,660
Kamei Corp. 2,000   14,577
Kanamoto Company, Ltd. 2,400   69,079
Kandenko Company, Ltd. 7,000   40,598
Kanematsu Corp. 40,000   58,156
Kanematsu Electronics, Ltd. 1,300   19,300
Katakura Industries Company, Ltd. 2,100   21,489
Kato Sangyo Company, Ltd. 2,200   45,585
Kato Works Company, Ltd. 2,000   13,515
Kawai Musical Instruments    
       Manufacturing Company, Ltd. 600   11,777
Key Coffee, Inc. 800   12,058
Kimoto Company, Ltd. 3,000   7,282
Kinki Sharyo Company, Ltd. (I) 3,000   9,754
Kintetsu World Express, Inc. 1,300   58,432
Kinugawa Rubber Industrial Company, Ltd. 3,000   13,034
Kissei Pharmaceutical Company, Ltd. 3,000   93,669
Kitz Corp. 7,800   38,441
Koa Corp. 2,300   22,348
Koatsu Gas Kogyo Company, Ltd. 3,000   15,286
Koei Tecmo Holdings Company, Ltd. 1,300   19,281
Kohnan Shoji Company, Ltd. 1,800   20,158
Kohsoku Corp. 1,400   10,245
Kojima Company, Ltd. 3,000   8,366
Kokuyo Company, Ltd. 8,300   77,497
Komatsu Seiren Company, Ltd. 2,000   9,534
Komeri Company, Ltd. 700   16,484
Komori Corp. 6,300   80,153
Konishi Company, Ltd. 1,100   18,582
Kumagai Gumi Company, Ltd. (I) 3,000   9,350
Kumiai Chemical Industry Company, Ltd. 4,000   32,999
Kura Corp. 800   29,600
Kurabo Industries, Ltd. 16,000   28,089
Kureha Corp. 12,000   51,433
Kurimoto, Ltd. 10,000   19,053
Kuroda Electric Company, Ltd. 2,400   38,341
KYB Company, Ltd. 2,000   7,312
Kyodo Printing Company, Ltd. 8,000   24,530
Kyoei Steel, Ltd. 1,100   18,575
Kyokuto Kaihatsu Kogyo Company, Ltd. 900   10,189
Kyokuyo Company, Ltd. 7,000   16,567
Kyorin Company, Ltd. 3,100   74,110
Kyoritsu Maintenance Company, Ltd. 1,080   51,631
Kyosan Electric Manufacturing Company, Ltd. 2,000   6,312
Kyowa Exeo Corp. 6,700   71,851
Kyudenko Corp. 2,000   21,855
LEC, Inc. 700   8,349
Leopalace21 Corp. (I) 12,500   65,434
Life Corp. 2,700   47,223
Lintec Corp. 1,600   38,060
Lion Corp. 7,000   42,604
Macnica, Inc. 900   28,403
Maeda Corp. 10,000   72,495
Maeda Road Construction Company, Ltd. 4,000   64,843
Maezawa Kasei Industries Company, Ltd. 1,100   11,187
Maezawa Kyuso Industries Company, Ltd. 900   10,874
Makino Milling Machine Company, Ltd. 8,000   67,833
Mandom Corp. 1,400   51,231
Mani, Inc. 200   14,493
Mars Engineering Corp. 700   12,382
Marubun Corp. 200   1,319
Marudai Food Company, Ltd. 8,000   27,173
Maruha Nichiro Corp. 2,738 38,625
Marusan Securities Company, Ltd. 5,400   55,080
Maruwa Company, Ltd. 600   14,214
Marvelous, Inc. 500   6,993
Matsuda Sangyo Company, Ltd. 1,400   17,909
Matsumotokiyoshi Holdings Company, Ltd. 1,500   53,376
Matsuya Foods Company, Ltd. 700   14,048
Max Company, Ltd. 3,000   35,300
Megmilk Snow Brand Company, Ltd. 4,600   55,319
Meidensha Corp. 17,000   54,803
Meiji Shipping Company, Ltd. 2,000   6,241
Meiko Network Japan Company, Ltd. 3,000   32,218
Meitec Corp. 2,700   90,291
Meito Sangyo Company, Ltd. 900   8,863
Melco Holdings, Inc. 1,200   22,569
Message Company, Ltd. 700   21,151
Micronics Japan Company, Ltd. 600   17,458
Milbon Company, Ltd. 1,056   33,894
Mimasu Semiconductor Industry Company, Ltd. 1,400   15,198
Ministop Company, Ltd. 1,100   15,504
Mirait Holdings Corp. 5,440   60,864
Misawa Homes Company, Ltd. 2,000   17,435
Mitsuba Corp. 3,400   75,076
Mitsubishi Paper Mills, Ltd. (I) 26,000   18,588
Mitsubishi Pencil Company, Ltd. 1,600   59,310
Mitsubishi Steel Manufacturing Company, Ltd. 10,000   21,030
Mitsuboshi Belting Company, Ltd. 4,000   32,102
Mitsui Engineering &    
       Shipbuilding Company, Ltd. 29,000   49,444
Mitsui High-Tec, Inc. 2,200   16,529
Mitsui Home Company, Ltd. 3,000   12,890
Mitsui Matsushima Company, Ltd. 10,000   10,819
Mitsui Mining & Smelting Company, Ltd. 6,000   13,645
Mitsui Sugar Company, Ltd. 8,000   28,108
Mitsui-Soko Company, Ltd. 3,000   10,082
Mitsuuroko Holdings Company, Ltd. 3,200   14,827
Miura Company, Ltd. 3,000   33,793
Mizuno Corp. 7,000   36,502
Mochida Pharmaceutical Company, Ltd. 400   26,261
Monex Group, Inc. 12,300   32,852
MonotaRO Company, Ltd. 200   7,244
Morinaga & Company, Ltd. 14,000   49,167
Morinaga Milk Industry Company, Ltd. 14,000   53,141
Morita Holdings Corp. 3,000   28,148
Musashi Seimitsu Industry Company, Ltd. 1,800   38,047
Nachi-Fujikoshi Corp. 11,000   60,228
Nagaileben Company, Ltd. 1,800   32,843
Nagatanien Company, Ltd. 2,000   18,873
Nakamuraya Company, Ltd. 3,000   12,545
Nakanishi, Inc. 300   11,707
Nakayama Steel Works, Ltd. (I) 11,000   8,426
Namura Shipbuilding Company, Ltd. 1,152   10,861
NEC Leasing, Ltd. 800   12,720
NEC Networks & System Integration Corp. 2,700   54,324
NET One Systems Company, Ltd. 6,400   43,676
Neturen Company, Ltd. 2,300   16,991
Nice Holdings, Inc. 6,000   9,905
Nichi-iko Pharmaceutical Company, Ltd. 3,100   71,388
Nichias Corp. 7,000   40,374
Nichicon Corp. 4,600   42,863
Nichiden Corp. 700   15,732
Nichiha Corp. 1,600   18,723
Nichii Gakkan Company 3,200   28,218

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

International Small Company Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)    
Japan (continued)    
Nichirei Corp. 13,000 $ 72,830
Nichireki Company, Ltd. 2,000   17,474
Nifco, Inc. 1,000   34,471
Nihon Dempa Kogyo Company, Ltd. 1,800   15,770
Nihon Kagaku Sangyo Company, Ltd. 1,000   6,614
Nihon M&A Center, Inc. 2,400   82,706
Nihon Nohyaku Company, Ltd. 4,000   40,006
Nihon Parkerizing Company, Ltd. 8,000   96,772
Nihon Shokuhin Kako Company, Ltd. 2,000   6,204
Nihon Unisys, Ltd. 500   4,734
Nikkiso Company, Ltd. 5,100   45,614
Nippon Beet Sugar    
       Manufacturing Company, Ltd. 15,000   24,743
Nippon Carbon Company, Ltd. 6,000   18,689
Nippon Ceramic Company, Ltd. 1,400   19,371
Nippon Chemi-Con Corp. (I) 11,000   32,371
Nippon Chemical Industrial Company, Ltd. 7,000   16,050
Nippon Coke & Engineering Company, Ltd. 18,000   17,087
Nippon Denko Company, Ltd. 6,530   15,653
Nippon Densetsu Kogyo Company, Ltd. 4,300   63,994
Nippon Fine Chemical Company, Ltd. 800   6,100
Nippon Flour Mills Company, Ltd. 13,000   64,287
Nippon Gas Company, Ltd. 2,000   49,378
Nippon Hume Corp. 2,000   14,043
Nippon Kanzai Company, Ltd. 700   16,676
Nippon Koei Company, Ltd. 8,000   31,891
Nippon Konpo Unyu Soko Company, Ltd. 6,000   105,113
Nippon Koshuha Steel Company, Ltd. 8,000   7,450
Nippon Light Metal Holdings Company, Ltd. 43,000   63,687
Nippon Seiki Company, Ltd. 4,000   78,829
Nippon Sharyo, Ltd. 6,000   17,166
Nippon Sheet Glass Company, Ltd. (I) 11,000   10,784
Nippon Soda Company, Ltd. 14,000   81,239
Nippon Steel & Sumikin Bussan Corp. 9,720   33,568
Nippon Steel & Sumkin Texeng Company, Ltd. 5,000   23,603
Nippon Suisan Kaisha, Ltd. 15,600   47,328
Nippon Thompson Company, Ltd. 6,000   29,600
Nippon Valqua Industries, Ltd. 8,000   20,776
Nippon Yakin Kogyo Company, Ltd. (I) 10,000   19,716
Nipro Corp. 7,000   66,645
Nishi-Nippon Railroad Company, Ltd. 14,000   64,138
Nishimatsu Construction Company, Ltd. 29,000   102,684
Nishimatsuya Chain Company, Ltd. 5,100   44,956
Nishio Rent All Company, Ltd. 800   23,012
Nissei ASB Machine Company, Ltd. 500   10,343
Nissei Build Kogyo Company, Ltd. 4,000   9,854
Nisshin Fudosan Company 5,800   22,219
Nisshin Steel Holdings Company, Ltd. 1,560   19,472
Nisshinbo Industries, Inc. 4,000   38,381
Nissin Corp. 4,000   10,164
Nissin Electric Company, Ltd. 5,000   29,962
Nissin Kogyo Company, Ltd. 2,100   33,353
Nitta Corp. 2,300   62,583
Nittan Valve Company, Ltd. 1,200   3,526
Nittetsu Mining Company, Ltd. 6,000   22,199
Nitto Boseki Company, Ltd. 13,000   50,428
Nitto Kogyo Corp. 2,900   53,889
Nitto Kohki Company, Ltd. 1,000   18,015
Noevir Holdings Company, Ltd. 1,600   32,044
NOF Corp. 16,000   118,689
Nohmi Bosai, Ltd. 2,000   24,652
Nomura Company, Ltd. 3,200   30,138
Noritake Company, Ltd. 12,000   28,184
Noritsu Koki Company, Ltd. 1,900 11,008
Noritz Corp. 1,000   16,408
NS Solutions Corp. 1,500   46,209
NS United Kaiun Kaisha, Ltd. 8,000   19,413
NSD Company, Ltd. 2,090   30,823
Obara Corp. 1,400   79,054
Oenon Holdings, Inc. 6,000   10,993
Ohsho Food Service Corp. 700   24,978
Oiles Corp. 2,880   56,183
Okabe Company, Ltd. 3,900   36,002
Okamoto Industries, Inc. 7,000   26,760
Okamura Corp. 7,000   56,301
Okinawa Cellular Telephone Company 400   11,625
Okuma Corp. 6,000   55,641
Okumura Corp. 12,000   56,073
Okura Industrial Company, Ltd. 4,000   11,824
Okuwa Company, Ltd. 3,000   23,161
Onoken Company, Ltd. 1,500   13,103
Onward Holdings Company, Ltd. 2,000   13,951
Optex Company, Ltd. 1,200   24,550
Organo Corp. 3,000   13,434
Origin Electric Company, Ltd. 3,000   12,290
Osaka Steel Company, Ltd. 1,400   24,880
OSAKA Titanium Technologies Company, Ltd. 600   12,708
Osaki Electric Company, Ltd. (L) 3,000   19,739
OSG Corp. 2,600   50,563
Oyo Corp. 1,300   17,555
Pacific Industrial Company, Ltd. 3,400   27,786
Pacific Metals Company, Ltd. (I) 9,000   24,495
Pal Company, Ltd. 1,100   31,301
Panahome Corp. 7,000   48,402
Panasonic Electric Works Information    
       Systems Company, Ltd. 1,000   32,664
Parco Company, Ltd. 800   7,459
Paris Miki Holdings, Inc. 1,100   4,459
Penta-Ocean Construction Company, Ltd. 14,500   52,929
Pilot Corp. 1,600   89,973
Piolax, Inc. 700   28,510
Pioneer Corp. (I) 18,800   34,250
Plenus Company, Ltd. 1,900   35,256
Press Kogyo Company, Ltd. 7,000   28,328
Prima Meat Packers, Ltd. 10,000   27,859
Pronexus, Inc. 600   4,075
Proto Corp. 200   3,241
Raito Kogyo Company, Ltd. 4,200   34,350
Relo Holdings, Inc. 200   17,694
Rengo Company, Ltd. 16,000   67,748
Ricoh Leasing Company, Ltd. 2,100   62,317
Riken Corp. 9,000   35,568
Riken Keiki Company, Ltd. 1,300   15,112
Riken Technos Corp. 3,000   10,906
Riken Vitamin Company, Ltd. 700   23,997
Ringer Hut Company, Ltd. 100   1,776
Riso Kagaku Corp. 800   13,188
Rock Field Company, Ltd. 1,000   21,524
Rohto Pharmaceutical Company, Ltd. 200   2,843
Round One Corp. 3,800   21,548
Royal Holdings Company, Ltd. 2,300   43,048
Ryobi, Ltd. 16,000   46,962
Ryoden Trading Company, Ltd. 3,000   21,005
Ryosan Company, Ltd. 2,600   63,824
Ryoyo Electro Corp. 1,600   20,390
S Foods, Inc. 500   9,193

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

International Small Company Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)    
Japan (continued)    
Sac’s Bar Holdings, Inc. 600 $ 9,648
Saibu Gas Company, Ltd. 19,000   42,700
Saizeriya Company, Ltd. 2,100   40,591
Sakai Chemical Industry Company, Ltd. 9,000   29,272
Sakata Inx Corp. 3,100   29,104
Sakata Seed Corp. 2,900   47,191
Sala Corp. 1,500   7,265
San-A Company, Ltd. 1,400   53,090
San-Ai Oil Company, Ltd. 5,000   32,402
Sangetsu Company, Ltd. 6,800   102,801
Sanken Electric Company, Ltd. 12,000   82,907
Sanki Engineering Company, Ltd. 4,000   30,960
Sanko Marketing Foods Company, Ltd. 200   1,542
Sankyo Seiko Company, Ltd. 3,200   13,148
Sankyo Tateyama, Inc. 2,200   42,491
Sankyu, Inc. 13,000   56,546
Sanshin Electronics Company, Ltd. 2,600   21,485
Sanyo Chemical Industries, Ltd. 6,000   47,165
Sanyo Denki Company, Ltd. 3,000   21,350
Sanyo Electric Railway Company, Ltd. 2,000   7,860
Sanyo Shokai, Ltd. 7,000   17,986
Sanyo Special Steel Company, Ltd. 10,000   41,870
Sapporo Holdings, Ltd. 18,000   71,219
Sato Holdings Corp. 1,700   38,547
Sato Restaurant Systems Company, Ltd. 500   4,426
Screen Holdings Company, Ltd. 12,000   90,779
Seikitokyu Kogyo Company, Ltd. 1,600   6,893
Seiko Holdings Corp. 7,000   35,288
Seiren Company, Ltd. 5,200   46,494
Sekisui Jushi Corp. 3,000   39,945
Sekisui Plastics Company, Ltd. 5,000   18,274
Senko Company, Ltd. 9,000   58,309
Senshu Ikeda Holdings, Inc. 5,400   25,642
Senshukai Company, Ltd. 4,400   31,878
Seria Company, Ltd. 1,300   47,027
Shibuya Kogyo Company, Ltd. 800   15,469
Shikibo, Ltd. 11,000   10,998
Shikoku Chemicals Corp. 3,000   23,984
Shima Seiki Manufacturing, Ltd. 2,300   39,157
Shimachu Company, Ltd. 3,800   100,244
Shin-Etsu Polymer Company, Ltd. 3,000   14,158
Shinagawa Refractories Company, Ltd. 6,000   14,573
Shindengen Electric    
       Manufacturing Company, Ltd. 5,000   24,931
Shinkawa, Ltd. (I) 1,500   9,512
Shinko Electric Industries Company, Ltd. 5,100   36,218
Shinko Plantech Company, Ltd. 3,300   24,327
Shinko Shoji Company, Ltd. 2,700   27,314
Shinmaywa Industries, Ltd. 9,000   95,406
Ship Healthcare Holdings, Inc. 2,600   59,354
Shizuoka Gas Company, Ltd. 4,500   29,788
Shochiku Company, Ltd. 1,000   9,393
Showa Corp. 3,500   35,329
Showa Sangyo Company, Ltd. 7,000   26,940
Siix Corp. 1,600   39,877
Sinanen Company, Ltd. 4,000   15,185
Sinko Industries, Ltd. 200   2,131
Sintokogio, Ltd. 4,600   35,502
SMK Corp. 6,000   26,085
SMS Company, Ltd. 1,600   21,345
Sogo Medical Company, Ltd. 600   16,886
ST Corp. 1,100   9,354
St. Marc Holdings Company, Ltd. 1,400   47,581
Star Micronics Company, Ltd. 2,600 36,477
Starzen Company, Ltd. 6,000   19,032
Stella Chemifa Corp. 800   9,017
Suminoe Textile Company, Ltd. 5,000   12,758
Sumitomo Bakelite Company, Ltd. 10,000   44,473
Sumitomo Densetsu Company, Ltd. 1,300   14,759
Sumitomo Mitsui Construction Company, Ltd. 30,000   41,386
Sumitomo Osaka Cement Company, Ltd. 16,000   49,150
Sumitomo Real Estate Sales Company, Ltd. 200   5,433
Sumitomo Riko Company, Ltd. 2,400   21,034
Sumitomo Seika Chemicals Company, Ltd. 4,000   28,454
SWCC Showa Holdings Company, Ltd. 24,000   18,543
Systena Corp. 100   747
T Hasegawa Company, Ltd. 1,600   23,592
T-Gaia Corp. 300   3,968
Tabuchi Electric Company, Ltd. 2,000   22,853
Tachi-S Company, Ltd. 1,900   26,639
Tachibana Eletech Company, Ltd. 360   4,506
Taihei Dengyo Kaisha, Ltd. 3,000   21,630
Taiho Kogyo Company, Ltd. 2,500   29,380
Taikisha, Ltd. 2,100   52,260
Taisei Lamick Company, Ltd. 500   11,551
Taiyo Ink Manufacturing Company, Ltd. 1,300   45,675
Taiyo Yuden Company, Ltd. 7,400   107,912
Takamatsu Construction Group Company, Ltd. 1,500   32,059
Takaoka Toko Company, Ltd. 700   9,516
Takara Leben Company, Ltd. 6,300   33,740
Takara Standard Company, Ltd. 7,000   59,206
Takasago International Corp. 6,000   27,210
Takasago Thermal Engineering Company, Ltd. 5,700   71,125
Take And Give Needs Company, Ltd. 200   1,506
Takeei Corp. 700   5,883
Takeuchi Manufacturing Company, Ltd. 300   13,556
Takihyo Company, Ltd. 3,000   11,550
Takiron Company, Ltd. 3,000   13,075
Takuma Company, Ltd. 6,000   46,996
Tamron Company, Ltd. 1,500   32,274
Tamura Corp. 7,000   25,723
Tatsuta Electric Wire and Cable Company, Ltd. 4,200   17,754
Teikoku Sen-I Company, Ltd. 2,000   29,012
Tenma Corp. 1,000   15,932
The Aichi Bank, Ltd. 900   45,949
The Akita Bank, Ltd. 15,000   45,829
The Aomori Bank, Ltd. 15,000   48,320
The Awa Bank, Ltd. 5,000   28,326
The Bank of Iwate, Ltd. 1,400   60,558
The Bank of Nagoya, Ltd. (L) 17,000   56,327
The Bank of Okinawa, Ltd. 2,100   88,202
The Bank of Saga, Ltd. 10,000   25,194
The Chiba Kogyo Bank, Ltd. 3,200   21,324
The Chukyo Bank, Ltd. 9,000   15,369
The Daisan Bank, Ltd. 17,000   26,741
The Daishi Bank, Ltd. 27,000   95,019
The Ehime Bank, Ltd. 13,000   25,974
The Eighteenth Bank, Ltd. 10,000   30,337
The Fukui Bank, Ltd. 18,000   39,145
The Fukushima Bank, Ltd. 21,000   15,541
The Higashi-Nippon Bank, Ltd. 9,000   28,287
The Higo Bank, Ltd. 5,000   30,637
The Hokkoku Bank, Ltd. 5,000   17,424
The Hokuetsu Bank, Ltd. 21,000   40,934
The Hyakugo Bank, Ltd. 20,000   92,746
The Hyakujushi Bank, Ltd. 21,000   69,339

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

International Small Company Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)    
Japan (continued)    
The Japan Steel Works, Ltd. 9,000 $ 37,836
The Juroku Bank, Ltd. 6,000   22,017
The Kagoshima Bank, Ltd. 2,000   13,593
The Kita-Nippon Bank, Ltd. 700   20,444
The Kiyo Bank, Ltd. 5,300   73,752
The Michinoku Bank, Ltd. 14,000   23,806
The Minato Bank, Ltd. 16,000   37,051
The Miyazaki Bank, Ltd. 14,000   53,240
The Musashino Bank, Ltd. 3,800   127,452
The Nagano Bank, Ltd. 8,000   13,125
The Nippon Road Company, Ltd. 7,000   35,077
The Nippon Signal Company, Ltd. 2,700   26,333
The Nippon Synthetic Chemical    
       Industry Company, Ltd. 3,000   19,910
The Nisshin Oillio Group, Ltd. 13,000   48,270
The Ogaki Kyoritsu Bank, Ltd. 27,000   85,371
The Oita Bank, Ltd. 12,000   46,595
The Okinawa Electric Power Company, Inc. 1,300   46,934
The Pack Corp. 1,300   28,032
The San-In Godo Bank, Ltd. 8,000   66,041
The Shibusawa Warehouse Company, Ltd. 5,000   14,282
The Shiga Bank, Ltd. 7,000   34,943
The Shikoku Bank, Ltd. 15,000   30,838
The Shimizu Bank, Ltd. 900   22,731
The Sumitomo Warehouse Company, Ltd. 14,048   77,753
The Tochigi Bank, Ltd. 8,000   41,268
The Toho Bank, Ltd. 18,000   74,074
The Tohoku Bank, Ltd. 4,000   5,530
The Tottori Bank, Ltd. 4,000   8,492
The Towa Bank, Ltd. 21,000   17,292
The Tsukuba Bank, Ltd. 5,700   18,426
The Yamagata Bank, Ltd. 16,000   67,826
The Yamanashi Chuo Bank, Ltd. 13,000   56,951
Tigers Polymer Corp. 1,000   6,900
TKC Corp. 1,500   29,997
Toa Corp. 1,400   13,502
Toa Corp. 22,000   36,572
Toagosei Company, Ltd. 18,000   82,106
Tobishima Corp. (I) 7,200   14,476
TOC Company, Ltd. 5,400   42,328
Tocalo Company, Ltd. 1,300   24,347
Toda Corp. 17,000   71,667
Toda Kogyo Corp. 3,000   10,786
Toei Company, Ltd. 5,000   37,148
Toenec Corp. 3,000   14,436
Toho Company, Ltd. 3,000   10,890
Toho Holdings Company, Ltd. 3,200   54,079
Toho Zinc Company, Ltd. 10,000   31,498
Tokai Carbon Company, Ltd. 17,000   47,759
Tokai Holdings Corp. 4,000   17,347
Token Corp. 810   40,715
Tokushu Tokai Holdings Company, Ltd. 15,000   34,176
Tokuyama Corp. (I) 23,000   48,195
Tokyo Dome Corp. 11,000   46,663
Tokyo Energy & Systems, Inc. 2,000   16,481
Tokyo Keiki, Inc. 5,000   11,068
Tokyo Ohka Kogyo Company, Ltd. 3,400   109,852
Tokyo Rakutenchi Company, Ltd. 2,000   8,197
Tokyo Seimitsu Company, Ltd. 2,600   59,544
Tokyo Steel Manufacturing Company, Ltd. 2,600   17,389
Tokyo Tekko Company, Ltd. 4,000   15,978
Tokyo Theatres Company, Inc. 9,000   10,416
Tokyo TY Financial Group, Inc. (I) 2,336   62,603
Tomato Bank, Ltd. 11,000 18,399
Tomen Devices Corp. 200   3,171
Tomoe Corp. 2,200   8,193
Tomoe Engineering Company, Ltd. 800   11,967
Tomoku Company, Ltd. 6,000   14,127
TOMONY Holdings, Inc. 15,000   67,843
Tomy Company, Ltd. 4,500   26,750
Tonami Holdings Company, Ltd. 6,000   21,796
Toppan Forms Company, Ltd. 5,600   63,438
Topre Corp. 4,300   67,130
Topy Industries, Ltd. 18,000   41,745
Toridoll.corp 1,400   19,428
Torigoe Company, Ltd. 2,300   13,655
Torii Pharmaceutical Company, Ltd. 1,100   29,338
Torishima Pump Manufacturing Company, Ltd. 900   6,626
Tosei Corp. 1,300   8,451
Toshiba Machine Company, Ltd. 8,000   33,679
Toshiba Plant Systems & Services Corp. 2,000   27,555
Tosho Printing Company, Ltd. 3,000   8,417
Totetsu Kogyo Company, Ltd. 2,200   49,083
Towa Corp. 2,200   12,436
Towa Pharmaceutical Company, Ltd. 700   40,017
Toyo Corp. 2,300   21,993
Toyo Denki Seizo - Toyo Electric    
       Manufacturing Company, Ltd. 3,000   10,672
Toyo Ink SC Holdings Company, Ltd. 15,000   70,185
Toyo Kanetsu KK 4,000   7,584
Toyo Kohan Company, Ltd. 4,000   18,258
Toyo Securities Company, Ltd. 6,000   18,551
Toyo Tanso Company, Ltd. 1,000   18,551
Toyo Wharf & Warehouse Company, Ltd. 6,000   10,080
Toyobo Company, Ltd. 32,936   44,407
TPR Company, Ltd. 1,400   37,476
Trancom Company, Ltd. 600   26,287
Transcosmos, Inc. 2,300   48,425
Trusco Nakayama Corp. 2,500   78,244
TSI Holdings Company, Ltd. 9,970   67,200
Tsubakimoto Chain Company 8,000   66,628
Tsugami Corp. 6,000   38,379
Tsukishima Kikai Company, Ltd. 2,000   20,589
Tsukui Corp. 600   4,547
Tsumura & Company 3,800   93,846
Tsurumi Manufacturing Company, Ltd. 1,000   14,210
Tsutsumi Jewelry Company, Ltd. 700   17,197
U-Shin, Ltd. 2,300   15,091
UACJ Corp. 19,034   52,319
Uchida Yoko Company, Ltd. 4,000   12,249
Ulvac, Inc. (I) 2,900   44,564
Uniden Corp. 9,000   16,492
Union Tool Company 700   20,005
Unipres Corp. 2,600   53,022
United Arrows, Ltd. 2,100   62,332
United Super Markets Holdings, Inc. (I) 4,200   37,330
Universal Entertainment Corp. 600   9,803
UNY Group Holdings Company, Ltd. 6,000   33,621
Usen Corp. (I) 3,300   9,868
Valor Company, Ltd. 4,000   86,371
Vital KSK Holdings, Inc. 3,500   26,630
VT Holdings Company, Ltd. 1,500   6,569
Wacoal Holdings Corp. 5,000   56,200
Wacom Company, Ltd. (L) 9,300   44,799
Wakachiku Construction Company, Ltd. 9,000   13,909
Wakita & Company, Ltd. 2,000   19,426

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

International Small Company Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)    
Japan (continued)    
Warabeya Nichiyo Company, Ltd. 900 $ 16,737
Watabe Wedding Corp. 1,100   4,634
WATAMI Company, Ltd. (I)(L) 2,300   22,724
Welcia Holdings Company, Ltd. 900   33,603
West Holdings Corp. 1,300   11,449
Xebio Company, Ltd. 1,500   26,029
Yahagi Construction Company, Ltd. 2,000   13,181
Yaizu Suisankagaku Industry Company, Ltd. 1,100   9,456
Yamabiko Corp. 600   26,855
Yamazen Corp. 3,900   31,968
Yaoko Company, Ltd. 600   22,476
Yasuda Logistics Corp. 1,400   11,749
Yellow Hat, Ltd. 1,000   21,364
Yodogawa Steel Works, Ltd. 10,000   39,598
Yokogawa Bridge Holdings Corp. 3,000   32,257
Yokohama Reito Company, Ltd. 4,000   27,785
Yokowo Company, Ltd. 2,000   11,729
Yomeishu Seizo Company, Ltd. 1,000   8,320
Yomiuri Land Company, Ltd. 2,000   7,712
Yondenko Corp. 3,000   12,073
Yondoshi Holdings, Inc. 1,700   32,487
Yorozu Corp. 800   16,801
Yoshinoya Holdings Company, Ltd. 2,100   22,901
Yuasa Trading Company, Ltd. 1,600   33,459
Yuki Gosei Kogyo Company, Ltd. 2,000   4,701
Yumeshin Holdings Company, Ltd. 2,200   16,353
Yurtec Corp. 4,000   26,681
Yusen Logistics Company, Ltd. 1,200   14,866
Yushiro Chemical Industry Company, Ltd. 1,100   13,868
Zenrin Company, Ltd. 2,100   25,887
Zensho Holdings Company, Ltd. (L) 4,900   47,464
ZERIA Pharmaceutical Company, Ltd. 2,200   36,739
  24,469,437
Jersey, Channel Islands - 0.1%    
Centamin PLC 88,755   75,499
Petra Diamonds, Ltd. (I) 21,255   57,286
Phoenix Group Holdings 891   10,719
  143,504
Liechtenstein - 0.1%    
Liechtensteinische Landesbank AG 1,361   53,247
VP Bank AG 397   32,288
  85,535
Luxembourg - 0.5%    
APERAM SA (I) 3,189   127,921
Eurofins Scientific SE 651   175,215
Regus PLC 59,952   193,736
  496,872
Malta - 0.1%    
Unibet Group PLC 1,362   74,707
  74,707
Mongolia - 0.0%    
Mongolian Mining Corp. (I) 346,000   12,456
  12,456
Netherlands - 1.9%    
Aalberts Industries NV 9,501   299,019
Accell Group 1,666   31,013
AMG Advanced Metallurgical Group NV (I) 3,085   29,627
Amsterdam Commodities NV 1,575   42,824
Arcadis NV 6,584   211,444
ASM International NV 5,593 257,864
Atrium European Real Estate, Ltd. (I) 375   1,752
BE Semiconductor Industries NV 1,355   43,312
Beter Bed Holding NV 1,056   23,142
BinckBank NV 4,478   36,386
Brunel International NV 2,022   38,678
Corbion NV 3,388   64,272
Delta Lloyd NV 3,118   58,671
Fugro NV 383   0
Grontmij (I) 5,995   24,070
Heijmans NV 2,023   27,215
Innoconcepts NV (I) 10,527   0
KAS Bank NV 330   4,358
Kendrion NV 654   20,360
Koninklijke BAM Groep NV 20,732   92,355
Koninklijke Ten Cate NV 2,622   59,190
Koninklijke Wessanen NV 5,830   38,693
Macintosh Retail Group NV (I) 454   1,303
Ordina NV (I) 5,537   10,498
PostNL NV (I) 15,152   64,370
Royal Imtech NV (I) 1,467   8,415
SBM Offshore NV (I) 9,898   123,024
Sligro Food Group NV 2,169   86,078
SNS REAAL NV (I) 16,603   0
Telegraaf Media Groep NV (I) 3,529   20,279
TKH Group NV 3,030   107,395
TNT Express NV 18,214   115,691
TomTom NV (I) 8,528   65,292
USG People NV 6,577   90,952
  2,097,542
New Zealand - 1.2%    
Air New Zealand, Ltd. 49,117   99,905
Chorus, Ltd. (I) 17,681   37,703
Ebos Group, Ltd. 3,359   26,848
Fisher & Paykel Healthcare Corp., Ltd. 42,660   209,702
Freightways, Ltd. 9,567   44,834
Infratil, Ltd. 66,634   158,347
Kathmandu Holdings, Ltd. 4,554   4,696
Mainfreight, Ltd. 7,268   84,000
New Zealand Oil & Gas, Ltd. 38,161   16,107
New Zealand Refining Company, Ltd. (I) 17,531   34,060
Nuplex Industries, Ltd. 40,972   97,872
PGG Wrightson, Ltd. 8,197   2,970
Pike River Coal, Ltd. (I) 21,968   0
Port of Tauranga, Ltd. 5,763   72,953
Ryman Healthcare, Ltd. 24,254   141,941
Sky Network Television, Ltd. 18,776   82,848
SKYCITY Entertainment Group, Ltd. 45,397   138,945
Tower, Ltd. 12,717   22,061
Trade Me Group, Ltd. 14,357   39,653
Warehouse Group, Ltd. 9,894   19,668
Xero, Ltd. (I) 350   6,280
  1,341,393
Norway - 0.8%    
ABG Sundal Collier Holding ASA (I) 13,972   11,055
American Shipping ASA 1,661   6,885
Atea ASA 9,883   111,281
Austevoll Seafood ASA 7,284   38,836
Bonheur ASA 1,100   8,120
BW Offshore, Ltd. 30,800   21,268
Det Norske Oljeselskap ASA (I) 1,725   9,485
DOF ASA (I) 1,335   1,373

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

International Small Company Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)    
Norway (continued)    
Dolphin Group AS (I) 15,125 $ 3,271
Ekornes ASA 207   2,519
Electromagnetic GeoServices ASA (I) 3,160   1,328
Eltek ASA 22,000   32,072
Farstad Shipping ASA 390   1,646
Ganger Rolf ASA 700   5,127
Hexagon Composites ASA 3,589   11,133
Kongsberg Automotive ASA (I) 29,400   21,630
Kvaerner ASA 11,623   8,630
Leroy Seafood Group ASA 1,055   30,706
Nordic Semiconductor ASA (I) 15,946   102,091
Norwegian Air Shuttle ASA (I)(L) 2,907   86,578
Opera Software ASA 6,623   53,097
REC Silicon ASA (I) 135,975   39,431
Sevan Marine ASA 2,068   4,766
Siem Offshore, Inc. 20,000   4,636
Solstad Offshore ASA 2,340   13,930
SpareBank 1 SMN 3,890   28,711
Tomra Systems ASA 13,184   110,812
Vard Holdings, Ltd. (I) 26,000   8,886
Veidekke ASA 6,400   75,128
Wilh Wilhelmsen ASA 3,110   18,497
Wilh Wilhelmsen Holding ASA, Class A (L) 1,300   25,490
  898,418
Peru - 0.0%    
Hochschild Mining PLC (I) 12,022   15,803
  15,803
Portugal - 0.6%    
Altri SGPS SA 26,263   112,239
Banco BPI SA (I) 23,984   36,684
Mota-Engil SGPS SA 5,366   19,815
NOS SGPS 17,437   126,371
Portucel SA 28,126   125,717
REN - Redes Energeticas Nacionais SGPS SA 12,164   35,730
Semapa-Sociedade de Investimento e Gestao 5,253   70,117
Sonae SGPS SA 50,046   76,134
Teixeira Duarte SA 21,736   17,780
  620,587
Singapore - 1.0%    
ASL Marine Holdings, Ltd. 19,600   5,770
Banyan Tree Holdings, Ltd. 54,000   20,285
Biosensors International Group, Ltd. (I) 63,000   34,897
Boustead Singapore, Ltd. 10,000   12,380
Bukit Sembawang Estates, Ltd. 16,000   60,962
Cape PLC 836   3,099
China Aviation Oil Singapore Corp., Ltd. 14,400   8,761
China Merchants Holdings Pacific, Ltd. 50,000   38,230
Chip Eng Seng Corp., Ltd. 33,000   23,296
Cosco Corp. Singapore, Ltd. 80,000   29,369
Creative Technology, Ltd. 6,650   6,744
CSE Global, Ltd. 34,000   13,731
Ezion Holdings, Ltd. 101,000   78,842
Ezra Holdings, Ltd. (I) 102,336   31,208
Far East Orchard, Ltd. 5,000   6,087
Food Empire Holdings, Ltd. 43,200   8,668
Gallant Venture, Ltd. (I) 71,000   12,683
GMG Global, Ltd. 46,000   2,341
GuocoLeisure, Ltd. 19,000   12,702
Ho Bee Land, Ltd. 18,000   28,202
Hong Fok Corp., Ltd. 48,000   31,044
Hong Leong Asia, Ltd. 13,000   12,493
HTL International Holdings, Ltd. 34,000 6,318
Hyflux, Ltd. 24,000   15,976
Indofood Agri Resources, Ltd. 25,000   13,453
Metro Holdings, Ltd. 31,600   22,308
Midas Holdings, Ltd. 86,000   18,754
OSIM International, Ltd. 30,000   42,804
Otto Marine, Ltd. 144,000   3,254
Petra Foods, Ltd. 30,700   85,434
Rotary Engineering, Ltd. 22,000   8,702
SBS Transit, Ltd. 5,000   6,221
Sinarmas Land, Ltd. 94,200   52,178
Stamford Land Corp., Ltd 59,000   23,835
SunVic Chemical Holdings, Ltd. (I) 26,000   8,144
Super Group, Ltd. 45,000   48,740
Swiber Holdings, Ltd. 30,000   3,656
Tat Hong Holdings, Ltd. 31,000   15,130
United Engineers, Ltd. 38,000   75,536
United Engineers, Ltd. 11,000   13,246
UOB-Kay Hian Holdings, Ltd. 32,345   34,998
Venture Corp., Ltd. 1,900   11,825
Wing Tai Holdings, Ltd. 21,205   29,665
XP Power, Ltd. 482   0
Yeo Hiap Seng, Ltd. 1,104   1,344
Yongnam Holdings, Ltd. 87,000   8,847
  1,032,162
South Africa - 0.0%    
Lonmin PLC (I) 2,646   4,601
Mota-Engil Africa NV (I) 471   3,938
  8,539
Spain - 2.0%    
Abengoa SA 3,012   11,749
Abengoa SA, B Shares 20,456   74,129
Acciona SA (I) 486   37,430
Acerinox SA 8,479   142,619
Adveo Group International SA 702   10,485
Almirall SA 5,019   92,254
Atresmedia Corp de Medios    
       de Comunicacion SA 3,644   55,124
Bolsas y Mercados Espanoles SA 5,350   238,252
Caja de Ahorros del Mediterraneo (I) 5,428   0
Cie Automotive SA 754   11,213
Construcciones y Auxiliar de Ferrocarriles SA 117   38,900
Dinamia Capital Privado Sociedad de    
       Capital Riesgo SA 1,181   10,348
Duro Felguera SA 5,568   21,946
Ebro Foods SA 6,186   115,361
Elecnor SA 2,026   19,782
Ence Energia y Celulosa SA 9,506   34,915
Faes Farma SA 18,754   47,597
Fluidra SA (I) 3,227   11,136
Gamesa Corp. Tecnologica SA (I) 12,762   160,718
Grupo Catalana Occidente SA 2,531   75,779
Indra Sistemas SA 7,450   87,322
Laboratorios Farmaceuticos Rovi SA 1,750   30,593
Mediaset Espana Comunicacion SA (I) 7,779   97,383
Melia Hotels International SA 3,488   42,995
NH Hotel Group SA (I) 5,065   27,657
Obrascon Huarte Lain SA 1,426   30,348
Papeles y Cartones de Europa SA 4,499   24,392
Pescanova SA (I) 1,602   0
Promotora de Informaciones SA, Class A (I) 27,931   8,952
Prosegur Cia de Seguridad SA 5,352   30,479

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

International Small Company Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)    
Spain (continued)    
Sacyr SA (I) 13,265 $ 55,663
Tecnicas Reunidas SA 2,764   116,015
Tubacex SA 6,252   19,971
Tubos Reunidos SA (L) 9,106   17,499
Vidrala SA 1,867   90,852
Viscofan SA 3,696   225,819
Vocento SA (I)(L) 9,411   19,798
Zeltia SA (I) 13,550   58,810
  2,194,285
Sweden - 3.1%    
AAK AB 4,167   233,925
Acando AB 6,279   10,853
AddTech AB, B Shares 6,930   92,114
AF AB, B Shares 6,380   88,847
Avanza Bank Holding AB 1,104   38,525
Axfood AB 623   32,915
B&B Tools AB, B Shares 3,490   57,038
BE Group AB (I) 4,723   1,826
Beijer Alma AB 283   6,341
Beijer Ref AB 2,250   40,738
Betsson AB (I) 2,976   111,769
Bilia AB, A Shares 1,720   61,767
BillerudKorsnas AB 16,111   259,493
BioGaia AB, B Shares 555   12,707
Bure Equity AB 5,458   31,348
Byggmax Group AB 589   4,090
Castellum AB 6,802   102,793
Clas Ohlson AB, B Shares 3,185   51,810
Cloetta AB, B Shares (I) 2,034   5,961
Concordia Maritime AB, B Shares (I) 2,200   3,700
Duni AB 4,343   62,491
East Capital Explorer AB (I) 3,589   23,562
Enea AB (I) 1,999   21,170
Eniro AB (I) 39,984   8,761
Fabege AB 6,102   87,438
Fagerhult AB (I) 1,365   21,571
Fastighets AB Balder, B Shares (I) 2,585   43,695
Haldex AB 3,364   50,709
Hexpol AB 110   11,076
HIQ International AB (I) 3,756   19,140
Holmen AB, B Shares 4,455   150,290
Industrial & Financial Systems, B Shares 1,542   50,282
Indutrade AB 1,973   90,321
Intrum Justitia AB 6,104   171,245
JM AB 8,981   298,645
KappAhl AB 2,691   12,415
Kungsleden AB 10,626   82,174
Lindab International AB (I) 6,008   51,066
Loomis AB, B Shares 4,564   139,781
Mekonomen AB 2,150   56,775
Munksjo OYJ (I) 33   419
NCC AB, B Shares 1,319   43,644
Net Entertainment NE AB, B Shares (I) 105   3,604
Net Insight AB, B Shares (I) 40,297   13,888
New Wave Group AB, B Shares 4,353   21,417
Nibe Industrier AB, B Shares 7,047   175,223
Nobia AB 10,144   89,595
Nolato AB, B Shares 216   0
OEM International AB, B Shares 1,799   22,814
Peab AB 14,016   110,509
Proffice AB, B Shares 6,320   17,306
Saab AB, B Shares 46   1,230
SAS AB (I)(L) 13,979   26,442
SkiStar AB 222   2,747
SSAB AB, A Shares (I) 882   4,355
Sweco AB, B Shares 3,557   45,642
Swedish Orphan Biovitrum AB (I) 3,114   32,837
TradeDoubler AB (L) 4,887   4,284
Wihlborgs Fastigheter AB 3,088   59,695
  3,376,818
Switzerland - 4.7%    
AFG Arbonia-Forster Holding AG (I) 748   14,930
Allreal Holding AG (I) 841   122,863
Alpiq Holding AG (I) 155   12,489
APG SGA SA 88   33,474
Ascom Holding AG 3,277   56,292
Autoneum Holding AG (I) 263   58,153
Bachem Holding AG (I) 14   750
Bank Coop AG 1,272   56,860
Banque Cantonale Vaudoise 20   11,466
Belimo Holding AG 21   45,579
Bell AG 9   23,202
Berner Kantonalbank AG 285   60,315
BKW AG 294   10,245
Bobst Group SA 632   24,815
Bossard Holding AG (I) 578   68,546
Bucher Industries AG 547   131,727
Burckhardt Compression Holding AG 263   101,226
Burkhalter Holding AG 218   23,489
Calida Holding AG (I) 285   11,869
Charles Voegele Holding AG (I) 998   13,053
Cicor Technologies (I) 277   10,017
Coltene Holding AG 170   13,071
Conzzeta AG 1   3,653
Daetwyler Holding AG 654   91,265
Edmond de Rothschild Suisse SA 1   14,379
EFG International AG (I) 4,687   57,794
Emmi AG (I) 226   78,112
Energiedienst Holding AG 559   16,921
Ferrexpo PLC 5,662   5,311
Flughafen Zuerich AG 293   230,531
Forbo Holding AG (I) 123   145,962
GAM Holding AG (I) 14,176   294,001
Gategroup Holding AG (I) 846   28,549
Georg Fischer AG 493   336,697
Gurit Holding AG (I) 22   9,612
Helvetia Holding AG 553   297,558
Huber & Suhner AG 280   13,159
Implenia AG 994   65,166
Inficon Holding AG (I) 183   65,405
Interroll Holding AG (I) 19   10,752
Intershop Holdings AG 112   46,080
Kaba Holding AG (I) 239   143,602
Kardex AG (I) 420   24,289
Komax Holding AG (I) 339   58,959
Kudelski SA 3,337   40,940
Kuoni Reisen Holding AG (I) 265   87,175
LEM Holding SA 42   34,402
Logitech International SA 9,485   124,909
Logitech International SA 3,471   45,644
Luzerner Kantonalbank AG 254   93,204
Meyer Burger Technology AG (I)(L) 4,318   27,342
Micronas Semiconductor Holding AG (I) 1,836   11,559
Mobilezone Holding AG 3,318   47,761
Mobimo Holding AG (I) 463   109,248
OC Oerlikon Corp. AG (I) 1,855   21,492

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

International Small Company Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
Switzerland (continued)
Orascom Development Holding AG (I) 533 $ 8,978
Orell Fuessli Holding AG (I) 136 13,296
Orior AG (I) 169 9,949
Panalpina Welttransport Holding AG 858 125,162
Phoenix Mecano AG 84 46,667
Rieter Holding AG (I) 251 39,861
Romande Energie Holding SA 43 46,434
Schaffner Holding AG (I) 40 10,282
Schmolz + Bickenbach AG (I) 55,184 54,512
Schweiter Technologies AG 80 68,604
Siegfried Holding AG (I) 210 32,102
St Galler Kantonalbank AG 125 44,396
Straumann Holding AG 424 115,623
Swissquote Group Holding SA 328 9,142
Tamedia AG 201 35,244
Tecan Group AG 884 115,900
Temenos Group AG (I) 5,003 172,059
U-Blox AG (I) 274 47,572
Valiant Holding AG 1,178 99,396
Valora Holding AG (I) 291 64,886
Vaudoise Assurances Holding SA 138 67,439
Vetropack Holding AG 3 4,700
Von Roll Holding AG (I) 7,878 8,652
Vontobel Holding AG 1,927 81,603
Walter Meier AG 438 19,579
Ypsomed Holding AG (I) 276 25,874
Zehnder Group AG 615 28,643
Zuger Kantonalbank AG 17 79,574
5,061,993
Taiwan - 0.0%
Ya Hsin Industrial Company, Ltd. (I) 138,000 0
0
United Arab Emirates - 0.1%
Lamprell PLC (I) 33,134 58,541
58,541
United Kingdom - 20.2%
A.G.Barr PLC 9,000 81,373
Acacia Mining PLC 2,512 9,737
Afren PLC (I) 55,554 2,545
Alent PLC 21,230 117,601
Alizyme PLC (I) 22,479 0
Amlin PLC 23,350 174,862
Anglo Pacific Group PLC 12,147 14,847
Anite PLC 13,211 16,449
Ashmore Group PLC 2,102 8,859
Ashtead Group PLC 3,913 62,756
AVEVA Group PLC 327 7,148
Balfour Beatty PLC 46,053 164,154
Barratt Developments PLC 58,104 454,298
BBA Aviation PLC 41,028 204,764
Bellway PLC 10,163 297,891
Berendsen PLC 14,469 239,350
Betfair Group PLC 969 32,034
Bodycote PLC 18,155 192,810
Booker Group PLC 23,267 50,135
Bovis Homes Group PLC 10,397 143,405
Braemar Shipping Services PLC 1,328 8,439
Brammer PLC 8,722 51,656
Brewin Dolphin Holdings PLC 23,416 107,457
British Polythene Industries PLC 3,531 35,482
Britvic PLC 21,701 235,598
BTG PLC (I) 6,392 67,595
Cable & Wireless Communications PLC 126,274 113,872
Capital & Counties Properties PLC 4,640 27,538
Capital & Regional PLC 28,406 24,321
Carillion PLC 27,252 131,884
Charles Taylor PLC 3,000 9,900
Chemring Group PLC 15,378 47,496
Chesnara PLC 4,750 24,153
Chime Communications PLC 5,129 20,897
Cineworld Group PLC 10,316 73,448
Close Brothers Group PLC 13,584 313,332
Cobham PLC 1,813 8,167
Colt Group SA (I) 31,617 62,830
Computacenter PLC 7,529 76,269
Concentric AB 3,667 48,964
Connect Group PLC 21,090 48,204
Costain Group PLC 4,797 22,349
Cranswick PLC 6,342 128,952
CSR PLC 14,801 191,532
Daily Mail & General Trust PLC 20,878 273,101
Dairy Crest Group PLC 14,003 91,753
Darty PLC 13,940 13,462
De La Rue PLC 6,976 57,293
Debenhams PLC 91,915 102,288
Dechra Pharmaceuticals PLC 5,389 80,483
Development Securities PLC 5,560 19,081
Devro PLC 5,754 24,300
Dialight PLC 105 1,182
Dignity PLC 4,231 114,516
Diploma PLC 7,537 89,759
Domino Printing Sciences PLC 11,461 158,438
Domino’s Pizza Group PLC 9,994 114,912
Drax Group PLC 30,783 165,334
DS Smith PLC 101,349 517,468
Dunelm Group PLC 8,604 106,958
E2V Technologies PLC 2,485 7,111
Electrocomponents PLC 36,254 129,601
Elementis PLC 35,280 151,540
EnQuest PLC (I) 53,014 27,304
Enterprise Inns PLC (I) 40,990 60,654
Essentra PLC 22,013 323,584
Euromoney Institutional Investor PLC 6,085 100,673
Evraz PLC 14,266 39,604
Fenner PLC 9,083 27,006
Fidessa Group PLC 3,072 100,440
Findel PLC (I) 8,139 27,995
Firstgroup PLC (I) 88,330 118,880
Galliford Try PLC 7,331 154,575
Gem Diamonds, Ltd. (I) 12,666 25,764
Genus PLC 5,336 108,230
Go-Ahead Group PLC 3,132 107,925
Greene King PLC (L) 18,168 224,915
Greggs PLC 7,878 118,857
Halfords Group PLC 15,547 105,846
Halma PLC 31,315 323,558
Hardy Oil & Gas PLC (I) 5,072 2,221
Hays PLC 90,038 203,212
Headlam Group PLC 4,631 29,574
Helical Bar PLC 8,263 48,336
Henderson Group PLC 74,992 311,328
Hikma Pharmaceuticals PLC 1,515 47,683
Hill & Smith Holdings PLC 6,401 65,073
Home Retail Group PLC 14,484 35,327

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

International Small Company Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
United Kingdom (continued)
Homeserve PLC 23,941 $ 135,395
Howden Joinery Group PLC 51,873 340,462
Hunting PLC 9,804 71,202
ICAP PLC 28,878 225,233
IG Group Holdings PLC 26,263 275,774
Imagination Technologies Group PLC (I) 16,400 51,094
Inchcape PLC 29,466 346,404
Informa PLC 33,371 278,575
Innovation Group PLC 32,953 13,781
Intermediate Capital Group PLC 39,548 294,976
International Personal Finance PLC 27,936 198,079
Interserve PLC 9,571 82,145
ITE Group PLC 16,803 45,010
Ithaca Energy, Inc. (I) 15,580 7,873
James Fisher & Sons PLC 4,579 88,623
Jardine Lloyd Thompson Group PLC 10,279 159,203
Jazztel PLC (I) 19,044 259,526
JD Sports Fashion PLC 1,594 11,295
JD Wetherspoon PLC 8,178 91,188
John Menzies PLC 1,262 7,037
John Wood Group PLC 1,787 16,772
Jupiter Fund Management PLC 28,793 174,691
KAZ Minerals PLC (I) 5,608 17,812
Kcom Group PLC 52,905 71,426
Keller Group PLC 4,607 64,611
Kier Group PLC 3,106 73,049
Ladbrokes PLC 55,844 86,126
Laird PLC 26,527 131,764
Lancashire Holdings, Ltd. 16,033 148,906
Lavendon Group PLC 3,421 8,595
Lookers PLC 22,449 47,791
Low & Bonar PLC 22,280 19,028
Man Group PLC 85,474 257,819
Management Consulting Group PLC 217 52
Marshalls PLC 4,569 18,784
Marston’s PLC 31,530 71,143
McBride PLC (I) 14,770 20,312
Mears Group PLC 8,289 52,024
Melrose Industries PLC 31,763 130,454
Michael Page International PLC 24,066 185,615
Micro Focus International PLC 19,089 333,978
Millennium & Copthorne Hotels PLC 13,381 113,803
Mitchells & Butlers PLC (I) 20,686 128,249
Mitie Group PLC 32,946 134,563
MJ Gleeson PLC 2,770 16,645
Moneysupermarket.com Group PLC 17,796 70,898
Morgan Advanced Materials PLC 27,796 140,393
Morgan Sindall Group PLC 789 9,165
Mothercare PLC (I) 8,741 26,700
MWB Group Holdings PLC (I) 11,618 840
N. Brown Group PLC 16,271 76,385
National Express Group PLC 34,580 145,167
NCC Group PLC 19,225 55,833
Northgate PLC 1,332 11,656
Novae Group PLC 2,664 28,179
Ophir Energy PLC (I) 7,595 15,164
Optos PLC (I) 3,748 19,181
Oxford Biomedica PLC (I) 57,574 10,499
Oxford Instruments PLC 2,533 31,256
Pace PLC 22,875 116,691
PayPoint PLC 4,414 53,681
Pendragon PLC 63,903 37,278
Pennon Group PLC 4,646 56,747
Petropavlovsk PLC (I) 13,086 1,108
Photo-Me International PLC 20,281 44,142
Premier Farnell PLC 29,879 82,030
Premier Foods PLC (I) 41,106 25,845
Premier Oil PLC 29,180 56,754
Punch Taverns PLC (I) 1,008 1,564
PZ Cussons PLC 16,024 81,152
QinetiQ Group PLC 56,452 159,677
Quintain Estates & Development PLC (I) 52,461 73,636
Rank Group PLC 3,844 10,612
Rathbone Brothers PLC 3,854 118,349
Redrow PLC 24,204 128,602
Renishaw PLC 2,747 99,411
Rentokil Initial PLC 98,343 199,394
Ricardo PLC 2,717 31,407
Rightmove PLC 7,789 345,548
RM PLC 8,752 18,664
Rotork PLC 7,111 260,715
RPC Group PLC 22,765 195,445
RPS Group PLC 17,736 59,133
Savills PLC 10,012 120,383
SDL PLC 7,019 45,265
Senior PLC 24,546 118,180
Shanks Group PLC 35,094 54,747
SIG PLC 25,405 76,252
Skyepharma PLC (I) 753 3,432
Soco International PLC 16,636 38,452
Spectris PLC 10,418 333,154
Speedy Hire PLC 15,187 16,080
Spirax-Sarco Engineering PLC 6,132 310,060
Spirent Communications PLC 48,511 62,596
Spirit Pub Company PLC 20,164 33,964
Sportech PLC (I) 11,390 10,883
ST Modwen Properties PLC 14,271 93,926
St. Ives PLC 3,492 8,756
Stagecoach Group PLC 34,381 177,788
SThree PLC 8,144 42,081
Stobart Group, Ltd. 1,253 1,928
Stolt-Nielsen, Ltd. 620 9,523
STV Group PLC 2,685 14,782
SuperGroup PLC (I) 11 156
Synergy Health PLC 4,425 152,419
Synthomer PLC 11,245 51,299
TalkTalk Telecom Group PLC (L) 42,319 215,569
Tate & Lyle PLC 7,549 66,787
Ted Baker PLC 1,270 46,889
Telecity Group PLC 11,068 143,276
Telecom Plus PLC 773 9,958
The Restaurant Group PLC 15,717 156,679
The Vitec Group PLC 1,430 13,570
Thomas Cook Group PLC (I) 66,442 143,080
Thorntons PLC (I) 5,797 6,101
Topps Tiles PLC 15,591 26,961
Torotrak PLC (I) 2,223 300
Tribal Group PLC 7,453 16,106
Trinity Mirror PLC (I) 11,839 31,849
TT electronics PLC 14,769 28,904
Tullett Prebon PLC 16,882 93,356
UBM PLC 30,356 237,746
UK Mail Group PLC 2,825 20,119
Ultra Electronics Holdings PLC 5,588 141,131
Unite Group PLC 12,292 106,633
UTV Media PLC 6,973 17,589

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

International Small Company Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
United Kingdom (continued)
Vectura Group PLC (I) 36,524 $ 78,644
Vesuvius PLC 21,699 157,700
Victrex PLC 5,831 161,965
Volex Group PLC (I) 3,136 3,011
Vp PLC 637 6,217
WH Smith PLC 11,284 216,814
William Hill PLC 51,387 282,178
Wilmington Group PLC 8,076 27,872
Wincanton PLC (I) 7,151 16,750
WS Atkins PLC 8,340 157,468
Xaar PLC 1,413 8,665
Xchanging PLC 19,640 39,281
Zeal Network SE 349 18,760
21,792,319
United States - 0.3%
Alacer Gold Corp. (I) 9,925 21,471
Argonaut Gold, Inc. (I) 6,900 9,588
BNK Petroleum, Inc. (I) 5,141 2,273
Boart Longyear, Ltd. (I) 36,330 5,496
Ormat Technologies, Inc. 1,817 68,756
Performance Sports Group, Ltd. (I) 2,200 42,921
Sims Metal Management, Ltd. 15,252 143,236
Thompson Creek Metals Company, Inc. (I) 11,493 15,154
308,895
TOTAL COMMON STOCKS (Cost $102,624,665) $ 107,357,269
 
RIGHTS - 0.0%
Charles Taylor PLC (I)(N) 1,285 1,268
Fortune Oil PLC (I)(N) 242,039 1,795
Hiscox, Ltd. (I)(N) 20,759 18,476
TOTAL RIGHTS (Cost $0) $ 21,539
 
SECURITIES LENDING COLLATERAL - 1.9%
John Hancock
       Collateral Trust, 0.1102% (W)(Y) 208,429 2,085,333
TOTAL SECURITIES LENDING
COLLATERAL (Cost $2,085,366) $ 2,085,333
 
SHORT-TERM INVESTMENTS - 0.2%
Money market funds - 0.2%
BlackRock Cash Funds - Prime, 0.1200% (Y) 192,785 192,785
192,785
TOTAL SHORT-TERM INVESTMENTS (Cost $192,785) $ 192,785
Total Investments (International Small Company Trust)
       (Cost $104,902,816) - 101.5% $ 109,656,926
Other assets and liabilities, net - (1.5%) (1,593,649 )
TOTAL NET ASSETS - 100.0% $ 108,063,277

International Value Trust

Shares or
Principal
Amount		       Value
COMMON STOCKS - 97.5%
Belgium - 0.5%
UCB SA 72,560 $ 5,241,792
5,241,792
Brazil - 0.8%
BM&FBovespa SA 1,710,300 5,980,463
Petroleo Brasileiro SA, ADR 361,784 2,203,265
8,183,728
Canada - 4.4%
Cenovus Energy, Inc. 567,800 9,571,300
Ensign Energy Services, Inc. 801,700 6,285,485
HudBay Minerals, Inc. 1,254,200 10,258,981
Precision Drilling Corp. 912,700 5,793,777
Suncor Energy, Inc. 389,900 11,393,312
Trican Well Service, Ltd. 931,800 2,538,163
45,841,018
China - 6.5%
China Life Insurance Company, Ltd., H Shares 2,268,000 9,969,578
China Telecom Corp., Ltd., H Shares 24,614,427 15,736,297
Shanghai Pharmaceuticals Holding
       Company, Ltd., H Shares 3,413,800 9,086,115
Sinopec Engineering Group Company, Ltd.,
       H Shares 9,120,400 7,900,444
Sinopharm Group Company, Ltd., H Shares 1,390,400 5,661,512
Springland International Holdings, Ltd. 11,597,700 3,544,427
Trina Solar, Ltd., ADR (I)(L) 1,337,679 16,172,539
68,070,912
Denmark - 0.4%
FLSmidth & Company A/S (L) 96,640 4,342,475
4,342,475
France - 10.0%
AXA SA 783,171 19,711,695
BNP Paribas SA 390,336 23,750,300
Cie de Saint-Gobain 203,360 8,928,955
Cie Generale des Etablissements Michelin 117,240 11,658,880
Sanofi 137,053 13,535,171
Societe Generale SA 86,973 4,199,216
Technip SA 222,850 13,479,654
Total SA 196,826 9,783,593
105,047,464
Germany - 8.0%
Bayer AG 85,710 12,823,527
Deutsche Boerse AG 160,470 13,095,738
Deutsche Lufthansa AG 493,710 6,913,235
Gerresheimer AG 93,770 5,160,991
Kloeckner & Company SE (I) 455,830 4,341,609
Merck KGaA 110,994 12,422,159
Metro AG 208,482 7,065,394
MorphoSys AG (I) 52,640 3,321,206
Muenchener Rueckversicherungs AG 23,577 5,066,258
Siemens AG 126,691 13,702,104
83,912,221
Hong Kong - 4.3%
China Mobile, Ltd. 702,500 9,155,257
Digital China Holdings, Ltd. 4,518,000 4,934,231
First Pacific Company, Ltd. 2,670,750 2,664,364
GCL-Poly Energy Holdings, Ltd. (I) 63,876,000 16,911,235
Kingboard Chemical Holdings, Ltd. 4,975,800 7,874,486
Kunlun Energy Company, Ltd. 3,736,000 3,628,619
45,168,192
India - 0.6%
Jain Irrigation Systems, Ltd. 1,931,113 1,899,207

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

International Value Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
India (continued)
LIC Housing Finance, Ltd. 637,963 $ 4,456,515
6,355,722
Ireland - 0.9%
CRH PLC 358,400 9,373,140
9,373,140
Israel - 1.8%
Teva Pharmaceutical Industries, Ltd., ADR 300,875 18,744,513
18,744,513
Italy - 2.6%
Eni SpA 572,610 9,910,777
UniCredit SpA 2,526,658 17,133,937
27,044,714
Japan - 5.5%
Canon, Inc. 118,200 4,182,069
Capcom Company, Ltd. 278,100 5,524,639
ITOCHU Corp. 1,251,360 13,542,066
Nissan Motor Company, Ltd. 1,736,900 17,665,233
Toyota Motor Corp. 238,830 16,671,224
57,585,231
Netherlands - 7.2%
Aegon NV 1,854,132 14,639,540
Akzo Nobel NV 161,070 12,178,393
ING Groep NV (I) 710,510 10,407,493
QIAGEN NV (I) 434,130 10,894,190
Royal Dutch Shell PLC, B Shares 375,706 11,703,310
SBM Offshore NV (I)(L) 1,210,130 15,040,891
74,863,817
Norway - 0.8%
Telenor ASA 402,755 8,127,751
8,127,751
Russia - 0.3%
Lukoil OAO, SADR 68,678 3,154,381
3,154,381
Singapore - 0.6%
United Overseas Bank, Ltd. 405,900 6,803,763
6,803,763
South Korea - 13.6%
Daewoo International Corp. 205,199 4,899,811
Hana Financial Group, Inc. 783,631 20,270,585
Hyundai Mobis Company, Ltd. 50,878 11,269,762
Hyundai Motor Company 37,665 5,704,049
KB Financial Group, Inc., ADR 756,368 26,578,772
Kiwoom Securities Company, Ltd. 82,506 5,239,003
Korea Investment Holdings Company, Ltd. 175,167 9,908,109
POSCO 62,318 13,620,720
Samsung Electronics Company, Ltd. 34,528 44,774,300
142,265,111
Spain - 1.0%
Telefonica SA 702,659 9,998,453
9,998,453
Sweden - 0.6%
Getinge AB, B Shares (L) 270,202 6,676,367
6,676,367
Switzerland - 7.4%
ABB, Ltd. (I) 349,320 7,410,477
Basilea Pharmaceutica (I) 35,340 4,003,201
Credit Suisse Group AG (I) 863,059 23,219,694
GAM Holding AG (I) 226,160 4,690,405
Lonza Group AG (I) 58,280 7,255,745
Meyer Burger Technology AG (I)(L) 410,977 2,602,314
Roche Holding AG 80,392 22,091,086
Swiss Re AG 63,411 6,116,496
77,389,418
Thailand - 0.5%
Bangkok Bank PCL 841,800 4,769,514
4,769,514
United Arab Emirates - 0.4%
Dragon Oil PLC 520,060 4,587,772
4,587,772
United Kingdom - 17.7%
Aberdeen Asset Management PLC 1,155,030 7,857,984
Aviva PLC 1,361,370 10,894,837
BAE Systems PLC 1,724,421 13,363,450
Barclays PLC 2,400,020 8,662,900
BP PLC 1,689,485 10,951,471
Carillion PLC (L) 1,486,940 7,195,919
GlaxoSmithKline PLC 667,254 15,360,080
HSBC Holdings PLC 1,402,170 11,948,432
Kingfisher PLC 2,556,100 14,421,639
Marks & Spencer Group PLC 1,896,530 14,999,339
Noble Corp. PLC (L) 531,543 7,590,434
Petrofac, Ltd. 1,198,430 16,871,607
Serco Group PLC (L) 541,568 1,099,153
Standard Chartered PLC 565,100 9,152,722
Subsea 7 SA 510,250 4,381,623
Tesco PLC 5,622,900 20,071,170
Vodafone Group PLC 3,251,582 10,640,188
185,462,948
United States - 1.1%
Halliburton Company 260,740 11,441,271
11,441,271
TOTAL COMMON STOCKS (Cost $995,232,125) $ 1,020,451,688
 
RIGHTS - 0.0%
Serco Group PLC (I)(N) 541,568 329,377
Telefonica SA (Expiration
       Date: 04/06/2015) (I)(N) 702,659 113,330
TOTAL RIGHTS (Cost $845,612) $ 442,707
 
SECURITIES LENDING COLLATERAL - 4.0%
John Hancock
       Collateral Trust, 0.1102% (W)(Y) 4,177,237 41,793,255
TOTAL SECURITIES LENDING
COLLATERAL (Cost $41,793,783) $ 41,793,255

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

International Value Trust (continued)

Shares or
Principal
Amount		       Value
SHORT-TERM INVESTMENTS - 1.2%
U.S. Government Agency - 1.2%
Federal Farm Credit Bank  
       0.010%, 04/01/2015* $ 12,000,000 $ 11,999,997
11,999,997
TOTAL SHORT-TERM INVESTMENTS (Cost $12,000,000) $ 11,999,997  
Total Investments (International Value Trust)
       (Cost $1,049,871,520) - 102.7% $ 1,074,687,647
Other assets and liabilities, net - (2.7%) (28,456,108 )
TOTAL NET ASSETS - 100.0% $ 1,046,231,539

Investment Quality Bond Trust

Shares or
Principal
Amount		       Value
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS - 38.6%
U.S. Government - 5.2%
Treasury Inflation Protected
       Securities
       0.250%, 01/15/2025 $ 11,130,089 $ 11,215,301
U.S. Treasury Bonds
       2.500%, 02/15/2045 (D) 2,855,000 2,830,464
       3.000%, 11/15/2044 3,000 3,288
       5.375%, 02/15/2031 3,000 4,259
U.S. Treasury Notes
       1.750%, 09/30/2019 2,200,000 2,241,936
       2.750%, 02/15/2024 66,000 70,728
16,365,976
U.S. Government Agency - 33.4%
Federal Home Loan Mortgage Corp.
       3.000%, TBA (C) 5,400,000 5,571,054
       3.500%, TBA (C) 2,100,000 2,201,402
       4.000%, TBA (C) 2,600,000 2,777,372
       4.500%, TBA (C) 4,000,000 4,356,380
       5.000%, 12/01/2034 392,629 438,671
       5.000%, TBA (C) 2,200,000 2,439,594
       6.500%, 04/01/2029 to 08/01/2034 31,177 36,317
       7.500%, 08/01/2025 to 05/01/2028 11,975 13,924
Federal National Mortgage Association
       2.500%, TBA (C) 1,700,000 1,741,912
       2.500%, 12/01/2042 to 03/01/2043 1,983,588 1,966,192
       2.660%, 03/01/2027 815,000 815,394
       2.720%, 03/01/2027 780,000 789,342
       2.780%, 03/01/2027 349,000 355,003
       3.000%, TBA (C) 19,900,000 20,347,523
       3.500%, TBA (C) 26,100,000 27,396,676
       4.000%, TBA (C) 6,500,000 6,950,033
       4.500%, TBA (C) 6,500,000 7,084,611
       5.000%, TBA (C) 1,800,000 2,001,656
Government National
       Mortgage Association
       3.500%, TBA (C) 6,300,000 6,630,203
       4.000%, TBA (C) 5,100,000 5,433,891
       4.000%, 11/15/2040 to 02/15/2042 137,879 148,628
       4.500%, TBA (C) 3,500,000 3,802,262
       6.000%, 08/15/2032 to 04/15/2035 95,224 110,747
       6.500%, 06/15/2028 to 02/15/2035 52,827 61,733
       7.000%, 11/15/2031 to 11/15/2033 366,356 430,278
       8.000%, 07/15/2030 6,413 7,790
103,908,588
TOTAL U.S. GOVERNMENT AND AGENCY
OBLIGATIONS (Cost $119,183,828) $ 120,274,564
 
FOREIGN GOVERNMENT
OBLIGATIONS - 2.3%
Brazil - 0.4%
Federative Republic of Brazil
       2.625%, 01/05/2023 325,000 292,013
       5.875%, 01/15/2019 250,000 275,000
       6.000%, 05/15/2019 to 05/15/2055 BRL 903,000 729,483
1,296,496
Chile - 0.1%
Republic of Chile
       3.000%, 01/01/2040 CLP 98,491,120 202,565
Colombia - 0.1%
Republic of Colombia
       3.000%, 03/25/2033 COP 467,846,215 157,595
       3.500%, 03/10/2021 244,625,472 98,060
       5.000%, 06/15/2045 $ 200,000 205,500
461,155
Costa Rica - 0.0%
Republic of Costa Rica
       9.200%, 03/27/2019 (S) CRC 55,100,000 102,347
Dominican Republic - 0.1%
Government of Dominican Republic
       11.500%, 05/10/2024 (S) DOP 8,700,000 209,343
Ethiopia - 0.1%
Federal Democratic Republic of Ethiopia
       6.625%, 12/11/2024 (S) $ 200,000 194,250
Indonesia - 0.2%
Republic of Indonesia
       8.375%, 03/15/2024 IDR   3,628,000,000 294,541
       2.875%, 07/08/2021 EUR 175,000 198,000
492,541
Kenya - 0.1%
Republic of Kenya
       6.875%, 06/24/2024 $ 300,000 313,275
Mexico - 0.6%
Government of Mexico
       3.000%, 03/06/2045 EUR 120,000 134,514
       4.750%, 03/08/2044 $ 470,000 493,500
       5.000%, 12/11/2019 MXN 12,449,200 806,380
       5.625%, 03/19/2114 GBP 120,000 187,798
       7.750%, 11/13/2042 MXN 3,865,200 293,767
1,915,959
Montenegro - 0.1%
Republic of Montenegro
       3.875%, 03/18/2020 (S) EUR 240,000 253,544
Romania - 0.0%
Government of Romania
       5.850%, 04/26/2023 RON 500,000 145,129

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Investment Quality Bond Trust (continued)

Shares or
Principal
Amount		       Value
FOREIGN GOVERNMENT
OBLIGATIONS (continued)
Russia - 0.1%
Government of Russia
       7.500%, 02/27/2019 RUB 18,650,000 $ 276,866
South Africa - 0.1%
Republic of South Africa
       7.750%, 02/28/2023 ZAR 3,625,000 301,710
Uruguay - 0.3%
Republic of Uruguay
       4.250%, 04/05/2027 UYU 14,464,789 550,811
       4.375%, 12/15/2028 2,170,527 83,371
       5.100%, 06/18/2050 $ 200,000 208,000
842,182
Venezuela - 0.0%
Republic of Venezuela
       7.000%, 03/31/2038 375,000 127,500
TOTAL FOREIGN GOVERNMENT
OBLIGATIONS (Cost $7,641,270) $ 7,134,862
 
CORPORATE BONDS - 37.9%
Consumer discretionary - 4.1%
21st Century Fox America, Inc.
       7.750%, 01/20/2024 622,000 804,989
       7.850%, 03/01/2039 225,000 340,065
Amazon.com, Inc.
       4.950%, 12/05/2044 475,000 518,261
Buffalo Thunder Development Authority
       11.000%, 12/09/2022 (S) 39,655 33,905
CCO Holdings LLC
       5.125%, 02/15/2023 5,000 5,050
       5.250%, 09/30/2022 75,000 76,688
       5.750%, 09/01/2023 35,000 36,575
Comcast Cable Communications LLC
       8.500%, 05/01/2027 556,000 806,853
Comcast Corp.
       4.750%, 03/01/2044 195,000 224,406
Cox Communications, Inc.
       4.800%, 02/01/2035 (S) 150,000 157,778
       5.875%, 12/01/2016 (S) 700,000 751,502
DIRECTV Holdings LLC
       1.750%, 01/15/2018 500,000 500,007
       2.400%, 03/15/2017 225,000 229,003
       3.950%, 01/15/2025 120,000 123,633
DISH DBS Corp.
       5.875%, 07/15/2022 10,000 10,163
       6.750%, 06/01/2021 281,000 299,265
Family Tree Escrow LLC
       5.750%, 03/01/2023 (S) 30,000 31,500
Ford Motor Credit Company LLC
       1.461%, 03/27/2017 225,000 225,043
       4.207%, 04/15/2016 100,000 102,850
       5.000%, 05/15/2018 255,000 278,026
Gannett Company, Inc.
       5.125%, 10/15/2019 to 07/15/2020 445,000 465,038
General Motors Financial Company, Inc.
       3.500%, 07/10/2019 660,000 677,598
       4.750%, 08/15/2017 545,000 574,871
Group 1 Automotive, Inc.
       5.000%, 06/01/2022 (S) 80,000 80,200
Lennar Corp.
       4.500%, 06/15/2019 75,000 77,438
Sally Holdings LLC
       5.750%, 06/01/2022 40,000 42,550
Sky PLC
       2.625%, 09/16/2019 (S) 490,000 497,607
Sotheby’s
       5.250%, 10/01/2022 (S) 120,000 117,900
TCI Communications, Inc.
       8.750%, 08/01/2015 692,000 710,822
The Ryland Group, Inc.
       5.375%, 10/01/2022 60,000 59,850
Time Warner Cable, Inc.
       4.500%, 09/15/2042 295,000 305,043
       5.000%, 02/01/2020 650,000 725,373
       5.875%, 11/15/2040 360,000 430,607
       6.750%, 07/01/2018 250,000 287,199
Time Warner, Inc.
       5.875%, 11/15/2016 290,000 312,212
       6.100%, 07/15/2040 180,000 227,425
       7.700%, 05/01/2032 598,000 848,651
Videotron, Ltd.
       5.375%, 06/15/2024 (S) 175,000 180,250
Volkswagen Group of America
       Finance LLC
       1.600%, 11/20/2017 (S) 490,000 494,189
12,670,385
Consumer staples - 0.7%
Altria Group, Inc.
       9.250%, 08/06/2019 80,000 102,646
       10.200%, 02/06/2039 97,000 171,556
Anheuser-Busch InBev Worldwide, Inc.
       0.800%, 07/15/2015 325,000 325,412
Coca-Cola Enterprises, Inc.
       2.125%, 09/15/2015 680,000 684,165
Marfrig Holding Europe BV
       6.875%, 06/24/2019 250,000 212,500
Minerva Luxembourg SA
       7.750%, 01/31/2023 200,000 197,000
The JM Smucker Company
       2.500%, 03/15/2020 (S) 110,000 111,579
Wal-Mart Stores, Inc.
       4.300%, 04/22/2044 100,000 111,605
       6.500%, 08/15/2037 200,000 279,429
2,195,892
Energy - 4.1%
Anadarko Petroleum Corp.
       3.450%, 07/15/2024 115,000 115,985
       5.950%, 09/15/2016 200,000 213,334
Antero Resources Corp.
       5.625%, 06/01/2023 (S) 45,000 44,606
BP Capital Markets PLC
       1.674%, 02/13/2018 840,000 843,847
       2.521%, 01/15/2020 235,000 239,021
California Resources Corp.
       5.000%, 01/15/2020 (S) 5,000 4,513
       5.500%, 09/15/2021 (S) 35,000 31,194
       6.000%, 11/15/2024 (S) 5,000 4,381
Cenovus Energy, Inc.
       5.200%, 09/15/2043 245,000 247,245
CenterPoint Energy Resources Corp.
       6.125%, 11/01/2017 275,000 306,392
CNPC General Capital, Ltd.
       1.950%, 04/16/2018 (S) 655,000 648,561
Concho Resources, Inc.
       6.500%, 01/15/2022 25,000 26,188

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Investment Quality Bond Trust (continued)

Shares or
Principal
Amount		       Value
CORPORATE BONDS (continued)
Energy (continued)
ConocoPhillips Company
       3.350%, 11/15/2024 $ 310,000 $ 319,456
Continental Resources, Inc.
       5.000%, 09/15/2022 140,000 138,075
Crestwood Midstream Partners LP
       6.250%, 04/01/2023 (S) 15,000 15,150
DCP Midstream Operating LP
       4.950%, 04/01/2022 20,000 19,471
       5.600%, 04/01/2044 30,000 25,778
EnCana Corp.
       6.500%, 05/15/2019 465,000 534,203
Energy Transfer Equity LP
       7.500%, 10/15/2020 200,000 224,000
Energy Transfer Partners LP
       3.600%, 02/01/2023 510,000 505,205
       5.950%, 10/01/2043 600,000 661,928
Harvest Operations Corp.
       6.875%, 10/01/2017 165,000 150,150
Hess Corp.
       1.300%, 06/15/2017 330,000 327,122
       5.600%, 02/15/2041 110,000 120,143
Kerr-McGee Corp.
       6.950%, 07/01/2024 345,000 431,735
Kinder Morgan Energy Partners LP
       5.500%, 03/01/2044 305,000 319,061
Kinder Morgan, Inc.
       3.050%, 12/01/2019 115,000 116,141
       4.300%, 06/01/2025 270,000 277,140
       5.050%, 02/15/2046 425,000 424,481
       6.500%, 09/15/2020 20,000 23,153
Lukoil International Finance BV
       3.416%, 04/24/2018 (S) 565,000 520,224
MarkWest Energy Partners LP
       4.875%, 12/01/2024 45,000 46,008
       6.750%, 11/01/2020 40,000 42,000
MEG Energy Corp.
       7.000%, 03/31/2024 (S) 67,000 63,148
Newfield Exploration Company
       6.875%, 02/01/2020 140,000 144,928
Nexen Energy ULC
       6.200%, 07/30/2019 90,000 102,931
       7.500%, 07/30/2039 125,000 176,836
Peabody Energy Corp.
       6.500%, 09/15/2020 (L) 220,000 133,650
Petroleos Mexicanos
       5.500%, 06/27/2044 375,000 378,281
       7.470%, 11/12/2026 MXN 5,000,000 312,223
Plains All American Pipeline LP
       2.600%, 12/15/2019 $ 775,000 778,650
QEP Resources, Inc.
       6.800%, 03/01/2020 5,000 5,125
SM Energy Company
       6.125%, 11/15/2022 (S) 20,000 19,900
State Oil Company of the Azerbaijan
       Republic
       4.750%, 03/13/2023 325,000 298,633
Statoil ASA
       3.700%, 03/01/2024 56,000 59,813
       3.950%, 05/15/2043 300,000 307,061
Sunoco Logistics Partners Operations LP
       4.250%, 04/01/2024 210,000 215,651
Tesoro Corp.
       5.125%, 04/01/2024 45,000 45,900
Tesoro Logistics LP
       5.500%, 10/15/2019 (S) 55,000 56,650
       6.250%, 10/15/2022 (S) 85,000 87,975
Williams Partners LP
       3.600%, 03/15/2022 550,000 546,576
       3.900%, 01/15/2025 565,000 552,418
       4.300%, 03/04/2024 465,000 463,989
WPX Energy, Inc.
       5.250%, 09/15/2024 30,000 26,385
       6.000%, 01/15/2022 20,000 18,600
12,761,214
Financials - 16.7%
American Express Company
       3.625%, 12/05/2024 475,000 487,808
American Tower Corp.
       3.400%, 02/15/2019 270,000 278,825
       3.450%, 09/15/2021 425,000 433,826
       5.000%, 02/15/2024 280,000 306,178
AXA Equitable Life Insurance Company
       7.700%, 12/01/2015 (S) 680,000 707,507
Banco Bilbao Vizcaya Argentaria SA
       (7.000% to 02/19/2019, then 5 year
       Euro Swap Rate + 6.155%)
       02/19/2019 (Q) EUR 600,000 663,698
Banco Bilbao Vizcaya Argentaria SA
       (9.000% to 05/19/2018, then 5 Year
       U.S. Swap Rate + 8.262%)
       05/19/2018 (Q) $ 400,000 435,000
Banco do Brasil SA (6.250% to
       04/15/2024, then 10 Year
       CMT + 4.398%)
       04/15/2024 (Q) 400,000 267,480
Banco Santander SA (6.250% to
       03/12/2019, then 5 year Euro Swap
       Rate + 5.410%)
       03/12/2019 (Q) EUR 900,000 974,983
Banco Santander SA (6.250% to
       09/11/2021, then 5 Year Euro Swap
       Rate + 5.640%)
       09/11/2021 (Q) 100,000 108,063
Bank of America Corp.
       4.200%, 08/26/2024 $ 745,000 770,752
       5.625%, 07/01/2020 545,000 628,317
       6.400%, 08/28/2017 550,000 609,472
       7.750%, 05/14/2038 825,000 1,188,165
Bank of Ireland
       10.000%, 07/30/2016 EUR 200,000 232,362
Bank of New York Mellon Corp.
       2.150%, 02/24/2020 $ 1,545,000 1,557,550
Barclays Bank PLC
       6.050%, 12/04/2017 (S) 1,230,000 1,353,631
Barclays Bank PLC (7.750% to
       04/10/2018, then 5 Year U.S. Swap
       Rate + 6.833%)
       04/10/2023 200,000 221,750
Barclays PLC (8.000% to 12/15/2020,
       then 5 Year Euro Swap Rate + 6.750%)
       12/15/2020 (Q) EUR 200,000 239,001
Barclays PLC (8.250% to 12/15/2018,
       then 5 year U.S. Swap Rate + 6.705%)
       12/15/2018 (Q) $ 225,000 241,069
BPCE SA
       2.500%, 12/10/2018 325,000 332,716

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Investment Quality Bond Trust (continued)

Shares or
Principal
Amount		       Value
CORPORATE BONDS (continued)
Financials (continued)
BPCE SA (continued)
       5.150%, 07/21/2024 (S) $ 240,000 $ 256,438
       5.700%, 10/22/2023 (S) 395,000 436,848
Brandywine Operating Partnership LP
       4.950%, 04/15/2018 400,000 430,370
       5.700%, 05/01/2017 300,000 323,075
Capital One Financial Corp.
       6.150%, 09/01/2016 950,000 1,012,072
Capital One NA
       1.650%, 02/05/2018 500,000 498,084
CIT Group, Inc.
       5.500%, 02/15/2019 (S) 375,000 390,000
Citigroup, Inc.
       2.400%, 02/18/2020 315,000 316,124
       4.300%, 11/20/2026 550,000 568,860
       5.500%, 09/13/2025 320,000 362,685
       6.125%, 08/25/2036 850,000 1,029,444
       6.675%, 09/13/2043 180,000 240,047
       8.500%, 05/22/2019 750,000 934,034
Credit Agricole SA
       4.375%, 03/17/2025 (S) 295,000 298,290
Credit Agricole SA (6.500% to
       06/23/2021, then 5 Year U.S. Swap
       Rate + 5.120%)
       06/23/2021 (Q) EUR 275,000 310,848
Credit Agricole SA (8.125% to
       09/19/2018, then 5 Year U.S. Swap
       Rate + 6.283%)
       09/19/2033 (S) $ 200,000 227,250
Credit Suisse AG (5.750% to 09/18/2020,
       then 5 Year Euro Swap Rate + 4.000%)
       09/18/2025 EUR 200,000 248,894
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
Deutsche Bank AG
       4.500%, 04/01/2025 550,000 549,554
Discover Financial Services
       6.450%, 06/12/2017 510,000 561,797
Duke Realty LP
       3.750%, 12/01/2024 145,000 148,827
       6.750%, 03/15/2020 340,000 404,092
Equity One, Inc.
       6.000%, 09/15/2017 400,000 437,096
Everest Reinsurance Holdings, Inc.
       (6.600% to 05/15/2017, then 3 month
       LIBOR + 2.385%)
       05/15/2037 800,000 820,400
General Electric Capital Corp.
       0.532%, 01/09/2017 (P) 325,000 325,397
       5.875%, 01/14/2038 75,000 96,979
General Electric Capital Corp. (6.250% to
       12/15/2022, then 3 month
       LIBOR + 4.704%)
       12/15/2022 (Q) 400,000 450,000
Hartford Financial Services Group, Inc.
       (8.125% to 06/15/2018, then 3 month
       LIBOR + 4.6025%)
       06/15/2038 195,000 222,056
HCP, Inc.
       4.200%, 03/01/2024 175,000 183,024
Health Care REIT, Inc.
       4.500%, 01/15/2024 350,000 375,788
       5.250%, 01/15/2022 631,000 711,143
HSBC Holdings PLC
       6.500%, 09/15/2037 165,000 210,555
       6.800%, 06/01/2038 355,000 466,881
HSBC Holdings PLC (5.625% to
       01/17/2020, then 5 Year
       ISDAFIX + 3.626%)
       01/17/2020 (Q) 400,000 406,250
Intercorp Peru, Ltd.
       5.875%, 02/12/2025 (S) 100,000 99,250
Intesa Sanpaolo SpA
       2.375%, 01/13/2017 400,000 404,715
JPMorgan Chase & Co.
       2.600%, 01/15/2016 310,000 314,261
       3.375%, 05/01/2023 115,000 115,773
       4.250%, 10/15/2020 225,000 245,361
       4.850%, 02/01/2044 385,000 439,396
       5.600%, 07/15/2041 75,000 91,776
       5.625%, 08/16/2043 905,000 1,085,637
       6.000%, 01/15/2018 600,000 671,028
KBC Groep NV (5.625% to 03/19/2019,
       then 5 Year Euro Swap Rate + 4.759%)
       03/19/2019 (Q) EUR 120,000 130,079
Kimco Realty Corp.
       5.584%, 11/23/2015 $ 310,000 319,402
       6.875%, 10/01/2019 310,000 368,924
Liberty Property LP
       3.375%, 06/15/2023 180,000 179,302
       4.125%, 06/15/2022 150,000 156,964
       6.625%, 10/01/2017 210,000 234,085
Lloyds Banking Group PLC (6.375% to
       06/27/2020, then 5 Year Euro Swap
       Rate + 5.290%)
       06/27/2020 (Q) EUR 450,000 515,991
Lloyds Banking Group PLC (7.000% to
       06/27/2019, then 5 Year British Pound
       Swap Rate + 5.060%)
       06/27/2019 (Q) GBP 200,000 303,637
Marsh & McLennan Companies, Inc.
       2.550%, 10/15/2018 $ 280,000 287,540
       3.500%, 03/10/2025 235,000 241,437
Massachusetts Mutual Life
       Insurance Company
       5.375%, 12/01/2041 (S) 140,000 169,088
       8.875%, 06/01/2039 (S) 410,000 672,705
MetLife, Inc.
       1.756%, 12/15/2017 335,000 339,383
Morgan Stanley
       1.875%, 01/05/2018 275,000 276,842
       4.300%, 01/27/2045 450,000 466,358
       4.350%, 09/08/2026 300,000 314,479
       4.875%, 11/01/2022 361,000 394,270
       5.550%, 04/27/2017 355,000 384,016
       6.625%, 04/01/2018 1,225,000 1,393,050
MSCI, Inc.
       5.250%, 11/15/2024 (S) 30,000 31,013
Nationwide Building Society (6.875% to
       06/20/2019, then 5 year British Pound
       Swap Rate + 4.880%)
       06/20/2019 (Q) GBP 460,000 691,747

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Investment Quality Bond Trust (continued)

Shares or
Principal
Amount		       Value
CORPORATE BONDS (continued)
Financials (continued)
Navient Corp.
       5.500%, 01/15/2019 $ 120,000 $ 122,400
       7.250%, 01/25/2022 55,000 58,025
       8.000%, 03/25/2020 10,000 11,124
       8.450%, 06/15/2018 100,000 111,000
PNC Funding Corp.
       5.625%, 02/01/2017 700,000 752,401
Prologis LP
       3.350%, 02/01/2021 750,000 778,492
Realty Income Corp.
       3.250%, 10/15/2022 245,000 245,649
       6.750%, 08/15/2019 410,000 482,594
Royal Bank of Scotland Group PLC
       5.125%, 05/28/2024 300,000 314,733
Santander Bank NA
       8.750%, 05/30/2018 250,000 295,093
Shimao Property Holdings, Ltd.
       8.375%, 02/10/2022 200,000 202,500
Societe Generale SA (6.750% to
       04/07/2021, then 5 year U.S. Swap
       Rate + 5.538%)
       04/07/2021 (Q) EUR 425,000 474,541
Societe Generale SA (8.250% to
       11/29/2018, then 5 Year U.S. Swap
       Rate + 6.394%)
       11/29/2018 (Q) $ 725,000 770,313
Standard Chartered PLC (6.500% to
       04/02/2020, then 5 Year U.S. Swap
       Rate + 4.889%)
       04/02/2020 (Q)(S) 400,000 402,600
Sumitomo Mitsui Financial Group, Inc.
       4.436%, 04/02/2024 (S) 445,000 476,558
Sun Canada Financial Company
       7.250%, 12/15/2015 (S) 1,471,000 1,534,096
SunTrust Banks, Inc.
       3.500%, 01/20/2017 510,000 530,850
The Bear Stearns Companies LLC
       6.400%, 10/02/2017 85,000 94,812
       7.250%, 02/01/2018 230,000 264,753
The Export-Import Bank of China
       3.625%, 07/31/2024 225,000 235,550
The Goldman Sachs Group, Inc.
       2.375%, 01/22/2018 925,000 943,762
       2.600%, 04/23/2020 405,000 409,309
       6.250%, 02/01/2041 255,000 332,420
       6.750%, 10/01/2037 865,000 1,135,896
UDR, Inc.
       3.700%, 10/01/2020 165,000 174,288
UniCredit SpA (8.000% to 06/03/2024,
       then 5 Year U.S. Swap Rate + 5.180%)
       06/03/2024 (Q) 200,000 206,000
Ventas Realty LP
       2.700%, 04/01/2020 145,000 146,576
       4.750%, 06/01/2021 275,000 303,593
Wells Fargo & Company
       3.000%, 02/19/2025 815,000 818,505
       3.450%, 02/13/2023 200,000 204,641
       4.100%, 06/03/2026 755,000 795,504
       4.125%, 08/15/2023 370,000 394,937
       5.606%, 01/15/2044 255,000 307,856
52,066,235
Health care - 4.0%
Actavis Funding SCS
       2.350%, 03/12/2018 975,000 988,037
       3.000%, 03/12/2020 820,000 840,062
       3.800%, 03/15/2025 530,000 546,534
       3.850%, 06/15/2024 725,000 748,881
Amgen, Inc.
       5.150%, 11/15/2041 105,000 120,948
       6.900%, 06/01/2038 205,000 283,113
Anthem, Inc.
       2.300%, 07/15/2018 25,000 25,360
       4.625%, 05/15/2042 225,000 243,918
       5.100%, 01/15/2044 125,000 143,389
       7.000%, 02/15/2019 485,000 571,892
Bayer US Finance LLC
       2.375%, 10/08/2019 (S) 250,000 254,326
Cardinal Health, Inc.
       3.500%, 11/15/2024 645,000 665,333
Celgene Corp.
       4.625%, 05/15/2044 430,000 457,446
Community Health Systems, Inc.
       5.125%, 08/01/2021 75,000 77,250
EMD Finance LLC
       2.950%, 03/19/2022 (S) 350,000 354,079
Gilead Sciences, Inc.
       3.500%, 02/01/2025 250,000 264,063
HCA, Inc.
       5.875%, 03/15/2022 130,000 143,650
       6.500%, 02/15/2020 365,000 410,990
Laboratory Corp. of America Holdings
       3.200%, 02/01/2022 205,000 207,519
McKesson Corp.
       1.400%, 03/15/2018 405,000 404,486
Medtronic, Inc.
       2.500%, 03/15/2020 (S) 510,000 521,050
       3.150%, 03/15/2022 (S) 460,000 477,647
       4.375%, 03/15/2035 (S) 425,000 464,091
       4.625%, 03/15/2045 (S) 225,000 255,062
Merck & Company, Inc.
       0.630%, 02/10/2020 (P) 945,000 948,810
Roche Holdings, Inc.
       3.350%, 09/30/2024 (S) 445,000 466,679
Tenet Healthcare Corp.
       6.000%, 10/01/2020 385,000 407,619
UnitedHealth Group, Inc.
       1.400%, 10/15/2017 375,000 378,572
WellCare Health Plans, Inc.
       5.750%, 11/15/2020 85,000 89,250
Zimmer Holdings, Inc.
       1.450%, 04/01/2017 615,000 616,355
12,376,411
Industrials - 2.2%
AerCap Ireland Capital, Ltd.
       4.500%, 05/15/2021 (S) 170,000 176,792
Air Lease Corp.
       4.500%, 01/15/2016 475,000 485,569
Aircastle, Ltd.
       5.500%, 02/15/2022 20,000 21,275
Canadian Pacific Railway Company
       9.450%, 08/01/2021 175,000 241,548
Caterpillar Financial Services Corp.
       2.250%, 12/01/2019 550,000 558,238
Clean Harbors, Inc.
       5.125%, 06/01/2021 20,000 20,349

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Investment Quality Bond Trust (continued)

Shares or
Principal
Amount		       Value
CORPORATE BONDS (continued)
Industrials (continued)
Clean Harbors, Inc. (continued)
       5.250%, 08/01/2020 $ 91,000 $ 93,048
CNH Industrial Capital LLC
       3.375%, 07/15/2019 (S) 25,000 24,250
FedEx Corp.
       3.200%, 02/01/2025 70,000 70,946
       4.100%, 02/01/2045 115,000 114,841
General Electric Capital Corp.
       2.200%, 01/09/2020 685,000 692,558
Huntington Ingalls Industries, Inc.
       7.125%, 03/15/2021 161,000 173,075
Hutchison Whampoa Europe Finance
       13, Ltd. (3.750% to 05/10/2018, then
       5 Year Euro Swap Rate + 2.941%)
       05/10/2018 (Q) EUR 105,000 116,429
Hutchison Whampoa International 11, Ltd.
       3.500%, 01/13/2017 (S) $ 685,000 708,290
Kansas City Southern de Mexico SA
       de CV
       3.000%, 05/15/2023 675,000 665,924
Odebrecht Offshore Drilling Finance, Ltd.
       6.750%, 10/01/2022 186,020 144,575
Oshkosh Corp.
       5.375%, 03/01/2025 (S) 50,000 51,500
Penske Truck Leasing Company LP
       4.250%, 01/17/2023 (S) 975,000 1,014,321
       4.875%, 07/11/2022 (S) 125,000 135,232
Raytheon Company
       3.125%, 10/15/2020 175,000 184,587
       3.150%, 12/15/2024 180,000 186,873
Ryder System, Inc.
       2.550%, 06/01/2019 235,000 238,498
Sensata Technologies BV
       5.000%, 10/01/2025 (S) 45,000 45,563
       5.625%, 11/01/2024 (S) 10,000 10,650
The ADT Corp.
       6.250%, 10/15/2021 200,000 213,000
United Rentals North America, Inc.
       4.625%, 07/15/2023 45,000 45,506
       5.500%, 07/15/2025 55,000 56,100
Waste Management, Inc.
       3.125%, 03/01/2025 280,000 282,698
6,772,235
Information technology - 1.2%
Activision Blizzard, Inc.
       5.625%, 09/15/2021 (S) 200,000 213,000
Alibaba Group Holding, Ltd.
       3.600%, 11/28/2024 200,000 200,646
Apple, Inc.
       2.500%, 02/09/2025 585,000 572,988
       3.450%, 02/09/2045 655,000 623,533
Audatex North America, Inc.
       6.000%, 06/15/2021 (S) 45,000 47,588
       6.125%, 11/01/2023 (S) 55,000 58,163
Cardtronics, Inc.
       5.125%, 08/01/2022 (S) 90,000 88,875
Microsoft Corp.
       2.375%, 02/12/2022 505,000 508,647
NCR Corp.
       4.625%, 02/15/2021 190,000 190,238
       5.000%, 07/15/2022 20,000 20,200
Open Text Corp.
       5.625%, 01/15/2023 (S) 35,000 36,313
Tencent Holdings, Ltd.
       2.875%, 02/11/2020 (S) 200,000 201,455
TSMC Global, Ltd.
       1.625%, 04/03/2018 (S) 925,000 916,859
3,678,505
Materials - 1.0%
ArcelorMittal
       6.000%, 08/05/2020 205,000 217,556
Building Materials Corp. of America
       5.375%, 11/15/2024 (S) 180,000 182,700
Cascades, Inc.
       5.500%, 07/15/2022 (S) 30,000 30,450
Cemex SAB de CV
       4.375%, 03/05/2023 (S) EUR 100,000 107,659
CF Industries, Inc.
       4.950%, 06/01/2043 $ 225,000 237,803
       5.150%, 03/15/2034 665,000 728,843
Clearwater Paper Corp.
       5.375%, 02/01/2025 (S) 85,000 86,700
Eagle Spinco, Inc.
       4.625%, 02/15/2021 100,000 98,875
FMG Resources August 2006 Pty, Ltd.
       6.875%, 04/01/2022 (S) 115,000 84,956
Freeport-McMoran, Inc.
       4.000%, 11/14/2021 510,000 497,776
       5.450%, 03/15/2043 100,000 89,517
Glencore Funding LLC
       1.700%, 05/27/2016 (S) 405,000 406,654
Graphic Packaging International, Inc.
       4.875%, 11/15/2022 90,000 93,375
NOVA Chemicals Corp.
       5.000%, 05/01/2025 (S) 125,000 130,625
Steel Dynamics, Inc.
       5.125%, 10/01/2021 (S) 30,000 30,188
       5.500%, 10/01/2024 (S) 45,000 45,619
United States Steel Corp.
       7.375%, 04/01/2020 90,000 91,377
Vale Overseas, Ltd.
       6.875%, 11/21/2036 120,000 116,064
3,276,737
Telecommunication services - 2.5%
America Movil SAB de CV
       7.125%, 12/09/2024 MXN 3,070,000 198,830
AT&T, Inc.
       4.800%, 06/15/2044 $ 215,000 220,539
Colombia Telecomunicaciones SA ESP
       (8.500% to 03/30/2020, then 5 Year
       U.S. Swap Rate + 6.958%)
       03/30/2020 (Q)(S) 200,000 200,540
SBA Tower Trust
       2.898%, 10/15/2019 (S) 505,000 511,111
       2.933%, 12/15/2017 (S) 520,000 526,179
       3.598%, 04/15/2018 (S) 730,000 729,794
Sprint Communications, Inc.
       7.000%, 03/01/2020 (S) 150,000 165,375
       9.000%, 11/15/2018 (S) 80,000 91,800
Sprint Corp.
       7.125%, 06/15/2024 195,000 191,100
T-Mobile USA, Inc.
       6.125%, 01/15/2022 10,000 10,313
       6.464%, 04/28/2019 155,000 159,844
       6.500%, 01/15/2024 15,000 15,675

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Investment Quality Bond Trust (continued)

Shares or
Principal
Amount		       Value
CORPORATE BONDS (continued)
Telecommunication services (continued)
T-Mobile USA, Inc. (continued)
       6.633%, 04/28/2021 $ 65,000 $ 68,088
       6.731%, 04/28/2022 175,000 184,188
       6.836%, 04/28/2023 25,000 26,313
Verizon Communications, Inc.
       2.625%, 02/21/2020 611,000 622,032
       4.272%, 01/15/2036 (S) 965,000 957,716
       4.400%, 11/01/2034 325,000 331,093
       4.672%, 03/15/2055 (S) 1,278,000 1,251,756
       4.862%, 08/21/2046 315,000 329,823
       5.012%, 08/21/2054 445,000 461,785
       6.550%, 09/15/2043 97,000 125,952
VimpelCom Holdings BV
       5.950%, 02/13/2023 (S) 365,000 313,900
7,693,746
Utilities - 1.4%
AES Corp.
       5.500%, 03/15/2024 195,000 195,000
Calpine Corp.
       5.875%, 01/15/2024 (S) 35,000 37,818
CenterPoint Energy, Inc.
       6.500%, 05/01/2018 165,000 187,742
Consolidated Edison Company of New
       York, Inc.
       3.300%, 12/01/2024 220,000 231,160
DPL, Inc.
       7.250%, 10/15/2021 45,000 47,813
Edison International
       3.750%, 09/15/2017 495,000 523,820
Empresa Electrica Angamos SA
       4.875%, 05/25/2029 (S) 475,000 469,775
Eskom Holdings SOC, Ltd.
       5.750%, 01/26/2021 (S) 625,000 603,250
NRG Energy, Inc.
       6.250%, 07/15/2022 75,000 77,156
Oncor Electric Delivery Company LLC
       7.500%, 09/01/2038 145,000 221,287
Pacific Gas & Electric Company
       3.750%, 02/15/2024 265,000 282,282
Progress Energy, Inc.
       7.000%, 10/30/2031 270,000 365,138
Puget Sound Energy, Inc.
       5.757%, 10/01/2039 15,000 19,977
       7.000%, 03/09/2029 346,000 458,825
Sierra Pacific Power Company
       6.000%, 05/15/2016 425,000 449,690
Wisconsin Energy Corp.
       6.200%, 04/01/2033 217,000 290,414
4,461,147
TOTAL CORPORATE BONDS (Cost $114,015,905) $ 117,952,507
 
CAPITAL PREFERRED SECURITIES - 0.3%
Financials - 0.3%
ACE Capital Trust II
       9.700%, 04/01/2030 527,000 793,135
TOTAL CAPITAL PREFERRED SECURITIES (Cost $708,051) $ 793,135
 
MUNICIPAL BONDS - 1.9%
Chicago O’Hare International Airport
       (Illinois) 6.845%, 01/01/2038 290,000 332,038
Chicago Transit Authority, Series B
       (Illinois) 6.899%, 12/01/2040 355,000 457,357
Los Angeles Unified School District
       (California) 5.750%, 07/01/2034 50,000 64,047
New Jersey State Turnpike Authority
       7.414%, 01/01/2040 465,000 699,686
Port Authority of New York & New Jersey
       6.040%, 12/01/2029 400,000 513,620
Puerto Rico Commonwealth Government
       Employees Retirement System, Series A
       6.150%, 07/01/2038 475,000 192,432
       6.200%, 07/01/2039 525,000 212,672
Puerto Rico Commonwealth Government
       Employees Retirement System, Series B
       6.550%, 07/01/2058 195,000 78,977
Puerto Rico Commonwealth Government
       Employees Retirement System, Series C
       6.300%, 07/01/2043 710,000 287,593
State of California
       7.300%, 10/01/2039 550,000 819,797
       7.550%, 04/01/2039 395,000 616,706
       7.600%, 11/01/2040 100,000 160,453
State of Illinois, GO
       5.100%, 06/01/2033 105,000 106,830
       5.665%, 03/01/2018 675,000 744,761
University of California
       4.601%, 05/15/2031 495,000 553,618
       5.770%, 05/15/2043 35,000 45,000
TOTAL MUNICIPAL BONDS (Cost $5,178,630) $ 5,885,587
 
TERM LOANS (M) - 3.7%
Consumer discretionary - 1.4%
99 Cents Only Stores
       4.500%, 01/11/2019 172,375 172,160
Acosta Holdco, Inc.
       5.000%, 09/26/2021 99,750 100,498
Advantage Sales & Marketing, Inc.
       4.250%, 07/23/2021 528,795 528,039
Aristocrat Leisure, Ltd.
       4.750%, 10/20/2021 112,346 112,707
BJ’s Wholesale Club, Inc.
       4.500%, 09/26/2019 522,880 522,635
CityCenter Holdings LLC
       4.250%, 10/16/2020 204,585 205,266
Delta 2 Lux SARL
       4.750%, 07/30/2021 150,000 148,938
Hilton Worldwide Finance LLC
       3.500%, 10/26/2020 331,842 332,138
ION Media Networks, Inc.
       4.750%, 12/18/2020 178,203 178,426
Neiman Marcus Group, Ltd. LLC
       4.250%, 10/25/2020 239,449 238,415
PetSmart, Inc.
       5.000%, 03/11/2022 125,000 125,881
Scientific Games International, Inc.
       6.000%, 10/01/2021 114,713 114,888
Serta Simmons Holdings LLC
       4.250%, 10/01/2019 234,377 234,670
SRAM LLC
       4.013%, 04/10/2020 265,099 264,436
The ServiceMaster Company LLC
       4.250%, 07/01/2021 445,483 445,762
Town Sports International LLC
       4.500%, 11/15/2020 279,120 233,066

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Investment Quality Bond Trust (continued)

Shares or
Principal
Amount        Value
TERM LOANS (M) (continued)
Consumer discretionary (continued)
Tribune Media Company
       4.000%, 12/27/2020 $ 556,133 $ 555,855
4,513,780
Consumer staples - 0.1%
Albertson’s Holdings LLC  
       5.500%, 08/25/2021 210,000 211,604
Energy - 0.1%
Arch Coal, Inc.
       6.250%, 05/16/2018 123,106 94,945
Seadrill Operating LP
       4.000%, 02/21/2021 108,897 86,204
Western Refining, Inc.
       4.250%, 11/12/2020 148,125 147,014
328,163
Financials - 0.4%
ARG IH Corp.
       4.750%, 11/15/2020 108,625 108,829
Asurion LLC
       4.250%, 07/08/2020 393,985 392,508
       8.500%, 03/03/2021 145,000 145,574
Gardner Denver, Inc.
       4.250%, 07/30/2020 394,000 373,463
The Brickman Group, Ltd. LLC
       4.000%, 12/18/2020 241,942 240,363
1,260,737
Health care - 0.4%
Brand Energy & Infrastructure
       Services, Inc.
       4.750%, 11/26/2020 202,438 196,617
Community Health Systems, Inc.
       4.250%, 01/27/2021 108,625 109,123
Medpace Holdings, Inc.
       4.750%, 04/01/2021 107,547 107,861
Opal Acquisition, Inc.
       5.000%, 11/27/2020 493,334 493,334
PRA Holdings, Inc.
       4.500%, 09/23/2020 212,596 212,383
Salix Pharmaceuticals, Ltd.
       5.500%, 01/02/2020 271,875 271,671
1,390,989
Industrials - 0.3%
AFGlobal Corp.
       5.000%, 12/19/2019 118,206 103,430
Filtration Group, Inc.
       4.500%, 11/21/2020 138,250 138,766
Fly Funding II SARL
       4.500%, 08/09/2019 154,688 155,074
RBS Global, Inc.
       4.000%, 08/21/2020 394,000 393,859
791,129
Information technology - 0.3%
Avago Technologies Cayman, Ltd.
       3.750%, 05/06/2021 116,575 116,750
First Data Corp.
       3.674%, 03/24/2018 150,000 149,844
Freescale Semiconductor, Inc.
       4.250%, 02/28/2020 320,131 320,703
Zayo Group LLC
       4.000%, 07/02/2019 393,431 393,738
981,035
Materials - 0.4%
Berry Plastics Group, Inc.
       3.750%, 01/06/2021 548,197 548,273
Coveris Holdings SA
       5.250%, 05/08/2019 222,188 222,928
FMG Resources August 2006 Pty, Ltd.
       3.750%, 06/30/2019 391,024 353,178
1,124,379
Telecommunication services - 0.3%
Intelsat Jackson Holdings SA
       3.750%, 06/30/2019 647,000 644,250
Level 3 Financing, Inc.
       4.000%, 01/15/2020 200,000 200,292
844,542
TOTAL TERM LOANS (Cost $11,577,226) $ 11,446,358
 
COLLATERALIZED MORTGAGE
OBLIGATIONS - 13.1%
Commercial and residential - 12.9%
Adjustable Rate Mortgage Trust,
       Series 2005-10, Class 6A21
       0.673%, 01/25/2036 (P) 125,239 108,039
Alternative Loan Trust
       Series 2005-56, Class 5A1,
              0.493%, 11/25/2035 (P) 183,859 150,509
       Series 2006-9T1, Class A1,
              5.750%, 05/25/2036 214,954 179,486
       Series 2007-19, Class 2A1,
              6.500%, 08/25/2037 103,335 72,759
       Series 2007-9T1, Class 2A1,
              6.000%, 05/25/2037 1,868 1,543
American Home Mortgage Assets Trust
       Series 2006-2, Class 2A1,
              0.363%, 09/25/2046 (P) 60,354 45,088
       Series 2006-3, Class 2A11,
              1.067%, 10/25/2046 (P) 76,513 54,459
       Series 2007-2, Class A1,
              0.298%, 03/25/2047 (P) 46,876 37,307
Banc of America Commercial
       Mortgage Trust, Series 2007-4,
       Class A4 5.750%, 02/10/2051 (P) 674,856 733,035
Banc of America Funding Trust,
       Series 2006-H, Class 6A1
       0.366%, 10/20/2036 (P) 175,732 131,287
BBCMS Trust, Series 2013-TYSN,
       Class A2 3.756%, 09/05/2032 (S) 330,000 355,498
BCAP LLC Trust, Series 2006-AA2,
       Class A1 0.343%, 01/25/2037 (P) 279,603 221,576
Bear Stearns Alt-A Trust, Series 2005-9,
       Class 11A1 0.693%, 11/25/2035 (P) 100,246 83,677
Bear Stearns Commercial
       Mortgage Securities Trust
       Series 2007-PW16, Class A4,
              5.707%, 06/11/2040 (P) 300,000 323,479
       Series 2007-T26, Class A4,
              5.471%, 01/12/2045 (P) 327,558 348,722

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



John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (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)
Bear Stearns Mortgage Funding Trust,
       Series 2006-AR3, Class 1A1
       0.354%, 10/25/2036 (P) $ 25,138 $ 19,643
Chase Mortgage Finance Trust,
       Series 2005-S3, Class A10
       5.500%, 11/25/2035 290,000 284,840
CHL Mortgage Pass-Through Trust
       Series 2005-2, Class 2A3,
              0.513%, 03/25/2035 (P) 23,024 18,853
       Series 2007-12, Class A9,
              5.750%, 08/25/2037 162,902 154,994
       Series 2007-HY1, Class 1A1,
              2.667%, 04/25/2037 (P) 27,360 24,496
       Series 2007-HY4, Class 1A1,
              2.550%, 09/25/2047 (P) 337,626 300,990
Citigroup Commercial Mortgage Trust
       Series 2008-C7, Class A4,  
              6.130%, 12/10/2049 (P) 253,493 277,002
       Series 2013-GC15, Class A4,
              4.371%, 09/10/2046 (P) 785,000 887,216
       Series 2014-GC19, Class A4,
              4.023%, 03/10/2047 395,000     434,593
       Series 2014-GC23, Class XA IO,
              1.148%, 07/10/2047 2,514,889 194,919
Citigroup/Deutsche Bank  
       Commercial Mortgage Trust
       Series 2006-CD2, Class A4,
              5.298%, 01/15/2046 (P) 448,203 456,807
       Series 2005-CD1, Class A4,
              5.225%, 07/15/2044 (P) 740,521 744,057
       Series 2007-CD4, Class A4,
              5.322%, 12/11/2049 850,000 894,838
Commercial Mortgage Loan Trust,
       Series 2008-LS1, Class A4B
       6.028%, 12/10/2049 (P) 651,430 696,468
Commercial Mortgage Pass
       Through Certificates
       Series 2006-C7, Class A4,
              5.751%, 06/10/2046 (P) 460,302 477,037
       Series 2013-300P, Class A1,
              4.353%, 08/10/2030 (S) 260,000 290,378
       Series 2013-CR12, Class A4,
              4.046%, 10/10/2046 405,111 447,588
       Series 2013-CR9, Class A4,
              4.235%, 07/10/2045 (P) 300,109 337,287
       Series 2013-WWP, Class A2,
              3.424%, 03/10/2031 (S) 800,000 838,517
       Series 2014-CR16, Class A4,
              4.051%, 04/10/2047 480,000 528,667
       Series 2014-CR17, Class A5,
              3.977%, 05/10/2047 390,000 428,347
       Series 2014-CR18, Class A5,
              3.828%, 07/15/2047 635,000 687,744
       Series 2014-LC15, Class A4,
              4.006%, 04/10/2047 305,000 334,751
       Series 2014-UBS2, Class A5,
              3.961%, 03/10/2047 425,000 464,552
       Series 2014-UBS4, Class A5,
              3.694%, 08/10/2047 465,000 496,570
Credit Suisse First Boston Mortgage
       Securities Corp., Series 2005-C3,
       Class AJ 4.771%, 07/15/2037 255,000 255,295
Credit Suisse Mortgage Capital
       Certificates Trust, Series 2006-C4,
       Class A3 5.467%, 09/15/2039 531,681 555,705
Deutsche Alt-A Securities Mortgage
       Loan Trust, Series 2007-AR2, Class A1
       0.323%, 03/25/2037 (P) 139,950 100,264
First Horizon Alternative Mortgage
       Securities Trust, Series 2005-AA9,
       Class 3A1 2.281%, 11/25/2035 (P) 6,556 5,425
FREMF Mortgage Trust
       Series 2010-K8, Class B,
              5.238%, 09/25/2043 (P)(S) 520,000 585,221
       Series 2012-K706, Class B,
              4.027%, 11/25/2044 (P)(S) 380,000 401,829
       Series 2014-K503, Class B,
              3.010%, 10/25/2047 (P)(S) 465,000 471,374
General Electric Capital Assurance
       Company, Series 2003-1, Class A5
       5.743%, 05/12/2035 (P)(S) 570,725 634,441
GMACM Mortgage Loan Trust
       Series 2005-AR5, Class 4A1,
              2.943%, 09/19/2035 (P) 90,282 84,279
       Series 2006-AR1, Class 1A1,
              2.982%, 04/19/2036 (P) 452,924 401,214
GS Mortgage Securities Trust
       Series 2012-ALOH, Class A,
              3.551%, 04/10/2034 (S) 670,000 715,833
       Series 2014-GC20, Class A5,
              3.862%, 06/10/2047 610,000 664,064
       Series 2014-GC20, Class A5,
              3.998%, 04/10/2047 395,000 433,931
GSR Mortgage Loan Trust,
       Series 2006-AR1, Class 2A1
       2.630%, 01/25/2036 (P) 22,846 20,856
HarborView Mortgage Loan Trust
       Series 2005-8, Class 1A2A,
              0.507%, 09/19/2035 (P) 94,067 74,379
       Series 2006-12, Class 2A13,
              0.417%, 12/19/2036 (P) 435,106 307,790
       Series 2006-12, Class 2A2A,
              0.367%, 01/19/2038 (P) 136,084 114,951
Highbridge Loan Management Trust,
       Series 2015-6A, Class A
       1.790%, 05/05/2027 (S) 485,000 483,254
Hilton USA Trust, Series 2013-HLT,
       Class AFX 2.662%, 11/05/2030 (S) 825,000 826,771
IndyMac INDA Mortgage Loan Trust,
       Series 2006-AR3, Class 1A1
       2.578%, 12/25/2036 (P) 158,205 137,337
IndyMac INDX Mortgage Loan Trust,
       Series 2005-AR13, Class 1A1
       2.505%, 08/25/2035 (P) 109,350 87,656
JPMBB Commercial
       Mortgage Securities Trust
       Series 2014-C19, Class A4,
              3.997%, 04/15/2047 395,000 433,704
       Series 2014-C21, Class A5,
              3.775%, 08/15/2047 310,000 334,705
       Series 2014-C22, Class A4,
              3.801%, 09/15/2047 310,000 334,389
       Series 2013-C17, Class A4,
              4.199%, 01/15/2047 250,000 278,570

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



John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (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)
JPMorgan Chase Commercial
       Mortgage Securities Trust
       Series 2007-CB19, Class A4,
              5.693%, 02/12/2049 (P) $ 600,000 $ 646,069
       Series 2008-C2, Series A4,  
              6.068%, 02/12/2051 432,970 472,152
       Series 2012-WLDN, Class A,
              3.905%, 05/05/2030 (S) 475,000 505,018
       Series 2013-C16, Class A4,
              4.166%, 12/15/2046 530,000 589,356
       Series 2006-CB14, Class A4,
              5.481%, 12/12/2044 (P) 843,905 861,427
       Series 2006-LDP9, Class A3,
              5.336%, 05/15/2047 897,175   944,885
JPMorgan Mortgage Trust,
       Series 2006-A3, Class 3A2
       2.611%, 05/25/2036 (P) 43,742 38,814
LB-UBS Commercial Mortgage Trust  
       Series 2007-C6, Class A4,  
              5.858%, 07/15/2040 (P) 580,876 609,463
       Series 2006-C4, Class A4,
              5.822%, 06/15/2038 (P) 983,298 1,024,429
       Series 2007-C2, Class A3,  
              5.430%, 02/15/2040 302,024 322,075
Lehman XS Trust, Series 2006-16N,
       Class A4A 0.363%, 11/25/2046 (P) 325,615 271,831
Merrill Lynch Mortgage Investors Trust,
       Series 2005-A4, Class 1A
       2.543%, 07/25/2035 (P) 385,650 319,193
Merrill Lynch Mortgage Trust,
       Series 2006-C1, Class A4
       5.658%, 05/12/2039 (P) 500,000 515,665
Merrill Lynch/Countrywide
       Commercial Mortgage Trust
       Series 2007-5, Class A4,
              5.378%, 08/12/2048 723,876 765,002
       Series 2007-7, Class A4,
              5.735%, 06/12/2050 (P) 589,500 635,650
       Series 2007-9, Class A4,
              5.700%, 09/12/2049 445,000 477,006
Morgan Stanley Bank of America
       Merrill Lynch Trust
       Series 2014-C14, Class A5,
              4.064%, 02/15/2047 135,000 148,967
       Series 2014-C17, Class A5,
              3.741%, 08/15/2047 615,000 661,264
       Series 2014-C19, Class XA IO,
              1.170%, 12/15/2047 1,607,527 119,100
Morgan Stanley Capital I Trust
       Series 2006-IQ12, Class A4,
              5.332%, 12/15/2043 855,275 898,463
       Series 2007-IQ14, Class A4,
              5.685%, 04/15/2049 (P) 600,053 643,432
       Series 2007-IQ16, Class A4,
              5.809%, 12/12/2049 431,652 467,851
       Series 2007-T27, Class A4,
              5.654%, 06/11/2042 (P) 150,000 162,602
       Series 2014-MP, Class A,
              3.469%, 08/11/2029 (S) 475,000 499,943
OBP Depositor LLC Trust,
       Series 2010-OBP, Class A
       4.646%, 07/15/2045 (S) 311,000 349,122
Residential Accredits Loans, Inc. Trust
       Series 2006-QO7, Class 1A1,
              0.927%, 09/25/2046 (P) 324,670 220,155
       Series 2007-QH9, Class A1,
              1.388%, 11/25/2037 (P) 174,089 113,613
RFMSI Series Trust, Series 2007-SA2,
       Class 2A1 3.031%, 04/25/2037 (P) 46,326 40,290
Sequoia Mortgage Trust, Series 2007-3,
       Class 2AA1 2.493%, 07/20/2037 (P) 32,199 26,967
Springleaf Mortgage Loan Trust,
       Series 2013-2A, Class M1
       3.520%, 12/25/2065 (P)(S) 605,000 616,709
Structured Adjustable Rate Mortgage
       Loan Trust, Series 2004-13, Class A2
       0.473%, 09/25/2034 (P) 38,744 34,360
UBS-Barclays Commercial
       Mortgage Trust, Series 2013-C5,
       Class A4 3.185%, 03/10/2046 450,000 468,361
Wells Fargo Mortgage
       Backed Securities Trust
       Series 2005-AR16, Class 4A8,
              2.613%, 10/25/2035 (P) 225,000 216,401
       Series 2014-LC16, Class A5,
              3.817%, 08/15/2050 310,000 336,192
       Series 2006-AR16, Class A1,
              2.489%, 10/25/2036 (P) 277,966 258,661
WF-RBS Commercial Mortgage Trust
       Series 2013-C15, Class A4,
              4.153%, 08/15/2046 (P) 325,000 361,893
       Series 2014-C19, Class A5,
              4.101%, 03/15/2047 304,634 337,737
       Series 2014-C20, Class A5,
              3.995%, 05/15/2047 600,000 659,561
       Series 2014-C21, Class A5,
              3.678%, 08/15/2047 485,000 520,733
       Series 2014-LC14, Class A5,
              4.045%, 03/15/2047 600,000 661,757
U.S. Government Agency - 0.2%
Federal National Mortgage Association
       Series 2014-04, Class 1M2,
              5.073%, 11/25/2024 (P) 95,000 100,155
       Series 2014-C02, Class 2M2,
              2.773%, 05/25/2024 (P) 40,000 36,744
       Series 2014-C03, Class 1M2,
              3.173%, 07/25/2024 (P) 220,000 206,981
       Series 2014-C03, Class 2M2,
              3.073%, 07/25/2024 (P) 155,000 144,883
Government National Mortgage
       Association, Series 2006-38, Class XS
       IO 7.075%, 09/16/2035 157,249 31,107
519,870
TOTAL COLLATERALIZED MORTGAGE
OBLIGATIONS (Cost $40,389,933) $ 40,652,894
 
ASSET BACKED SECURITIES - 8.8%
ABFC Trust, Series 2006-HE1, Class A2D
       0.393%, 01/25/2037 (P) 185,796 115,394
Apidos CLO XX, Series 2015-20A,
       Class A1 1.766%, 01/16/2027 (P)(S) 700,000 700,058
Atlas Senior Loan Fund V, Ltd.,
       Series 2014-1A, Class A
       1.804%, 07/16/2026 (P)(S) 265,000 265,160

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



John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Investment Quality Bond Trust (continued)

Shares or
Principal
Amount        Value
ASSET BACKED SECURITIES (continued)
CAL Funding II, Ltd., Series 2012-1A,
       Class A 3.470%, 10/25/2027 (S) $ 151,667 $ 152,651
Carlyle Global Market  
       Strategies CLO, Ltd.
       Series 2014-4, Class B,
              2.700%, 10/15/2026 (P)(S) 305,000 306,390
       Series 2014-4A, Class A1,
              1.750%, 10/15/2026 (P)(S) 425,000 424,986
Cent CLO 17, Ltd., Series 2013-17A,
       Class A1 1.554%, 01/30/2025 (P)(S) 665,000 657,364
Cent CLO 21, Ltd., Series 2014-21A,
       Class A1A 1.746%, 07/27/2026 (P)(S) 595,000 594,507
Cent CLO 22, Ltd., Series 2014-22A,
       Class A1 1.713%, 11/07/2026 (P)(S) 445,000 444,558
Cent CLO 23, Ltd.
       Series 2015-23A, Class A1,
              1.750%, 04/17/2026 (P)(S) 770,000 770,000
       Series 2015-23A, Class A2A,
              2.460%, 04/17/2026 (P)(S) 310,000 309,008
CPS Auto Trust  
       Series 2012-C, Class A,
              1.820%, 12/16/2019 (S) 127,619   127,989
       Series 2013-D, Class A,
              1.540%, 07/16/2018 (S) 166,647 166,582
Credit Acceptance Auto Loan Trust
       Series 2013-1A, Class A,
              1.210%, 10/15/2020 (S) 505,000 505,329
       Series 2013-2A, Class A,
              1.500%, 04/15/2021 (S) 450,000 451,306
       Series 2014-1A, Class A,
              1.550%, 10/15/2021 (S) 700,000 699,089
       Series 2014-2A, Class A,
              1.880%, 03/15/2022 (S) 770,000 772,630
Dryden Senior Loan Fund,
       Series 2015-38A, Class A
       1.730%, 07/15/2027 (P)(S) 660,000 660,000
Dryden XXIV Senior Loan Fund,
       Series 2012-24A, Class B
       2.507%, 11/15/2023 (P)(S) 475,000 475,067
First Investors Auto Owner Trust
       Series 2013-1A, Class B,
              1.810%, 10/15/2018 (S) 120,000 120,602
       Series 2013-3A, Class A3,
              1.440%, 10/15/2019 (S) 360,000 361,038
       Series 2014-1A, Class A3,
              1.490%, 01/15/2020 (S) 245,000 245,489
       Series 2014-3A, Class A3,
              1.670%, 11/16/2020 (S) 635,000 636,080
       Series 2014-3A, Class B,
              2.390%, 11/16/2020 (S) 170,000 170,840
Flagship Credit Auto Trust, Series 2014-1,
       Class A 1.210%, 04/15/2019 (S) 182,576 182,246
Ford Credit Floorplan Master
       Owner Trust A, Series 2014-1, Class B
       1.400%, 02/15/2019 150,000 150,558
Galaxy XIX CLO, Ltd., Series 2015-19A,
       Class A1A 1.811%, 01/24/2027 (P)(S) 895,000 895,151
Galaxy XVII CLO, Ltd., Series 2014-17A,
       Class B 2.344%, 07/15/2026 (P)(S) 530,000 530,653
GM Financial Automobile Leasing Trust,
       Series 2014-2A, Class B
       1.960%, 03/20/2018 (S) 130,000 130,430
GSAA Home Equity Trust
       Series 2006-15, Class AF6,
              5.876%, 09/25/2036 (P) 579,355 340,523
       Series 2006-20, Class 2A1A,
              0.223%, 12/25/2046 (P) 565,115 392,901
       Series 2007-3, Class 1A2,
              0.343%, 03/25/2047 (P) 549,833 282,439
       Series 2006-10, Class AF3,
              5.985%, 06/25/2036 (P) 231,020 134,873
GSAA Trust, Series 2005-7, Class AF4
       5.058%, 05/25/2035 (P) 325,000 288,777
GSAMP Trust, Series 2007-FM2,
       Class A2B 0.263%, 01/25/2037 (P) 347,965 210,179
Huntington Auto Trust, Series 2012-1,
       Class B 1.710%, 08/15/2017 291,000 292,858
Louisiana Local Government
       Environmental Facilities &
       Communities Development Authority,
       Series 2010-ELL, Class A2
       2.470%, 02/01/2019 847,465 861,584
Madison Park Funding XII, Ltd.,
       Series 2014-12A, Class B1
       2.407%, 07/20/2026 (P)(S) 530,000 530,679
Magnetite XII, Ltd., Series 2015-12A,
       Class A 1.816%, 04/15/2027 (P)(S) 555,000 555,168
Newcastle Mortgage Securities Trust,
       Series 2007-1, Class 2A3
       0.403%, 04/25/2037 (P) 175,000 115,784
Oaktree EIF II Series A1, Ltd.,
       Series 2015-B1A, Class A
       1.908%, 02/15/2026 (P)(S) 775,000 774,988
OHA Credit Partners VII, Ltd.,
       Series 2012-7A, Class A
       1.680%, 11/20/2023 (P)(S) 565,000 563,431
OHA Loan Funding, Ltd., Series 2015-1A,
       Class A 1.769%, 02/15/2027 (P)(S) 910,000 909,964
Prestige Auto Receivables Trust,
       Series 2012-1, Class B
       2.490%, 04/16/2018 (S) 336,000 339,883
Race Point IX CLO, Ltd., Series 2015-9A,
       Class A1 1.768%, 04/15/2027 (P)(S) 945,000 945,000
Santander Drive Auto Receivables Trust
       Series 2012-5, Class B,
              1.560%, 08/15/2018 366,625 367,228
       Series 2013-5, Class B,
              1.550%, 10/15/2018 475,000 477,014
       Series 2013-5, Class C,
              2.250%, 06/17/2019 110,000 111,231
       Series 2014-1, Class C,
              2.360%, 04/15/2020 470,000 473,705
       Series 2014-4, Class B,
              1.820%, 05/15/2019 185,000 185,264
Securitized Asset Backed
       Receivables LLC Trust,
       Series 2006-HE1, Class A2B
       0.263%, 07/25/2036 (P) 192,126 94,602
Sound Point CLO IV, Ltd.,
       Series 2013-3A, Class A
       1.626%, 01/21/2026 (P)(S) 623,000 617,058
Sound Point CLO VIII,Ltd.,
       Series 2015-1A, Class A
       1.000%, 04/15/2027 (P)(S) 755,000 753,113

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


      
John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Investment Quality Bond Trust (continued)

Shares or
Principal
Amount        Value
ASSET BACKED SECURITIES (continued)
Soundview Home Loan Trust,
       Series 2007-OPT2, Class 2A3
       0.353%, 07/25/2037 (P) $ 45,000 $ 28,032
SpringCastle America Funding LLC,
       Series 2014-AA, Class A
       2.700%, 05/25/2023 (S) 682,544 684,255
Springleaf Funding Trust,
       Series 2014-AA, Class A
       2.410%, 12/15/2022 (S) 715,000 715,293
Treman Park CLO LLC, Series 2015-1A,
       Class A 1.760%, 04/20/2027 (P)(S) 775,000 775,000
Volvo Financial Equipment LLC,
       Series 2012-1A, Class B
       1.510%, 08/15/2017 (S) 176,000 176,278
Voya CLO, Ltd.
       Series 2012-3AR, Class BR,
              2.215%, 10/15/2022 (P)(S) 550,000 550,000
       Series 2015-1A, Class A1,
              1.742%, 04/18/2027 (P)(S) 730,000 728,197
       Series 2015-1A, Class A2,
              2.362%, 04/18/2027 (P)(S) 255,000 254,903
Westlake Automobile Receivables Trust,
       Series 2014-2A, Class B
       1.580%, 04/15/2020 (S) 795,000 797,057
TOTAL ASSET BACKED SECURITIES (Cost $27,224,230) $ 27,348,416
 
PREFERRED SECURITIES - 0.2%
Financials - 0.2%
Citigroup Capital XIII (7.875% to
       10/30/2015, then
       3 month LIBOR + 6.370%) 23,000 $ 609,960
TOTAL PREFERRED SECURITIES (Cost $644,000) $ 609,960
 
PURCHASED OPTIONS - 0.0%
Call options - 0.0%
Over the Counter on the EUR vs. USD
       (Expiration Date: 08/20/2015; Strike
       Price: EUR 1.14; Counterparty: Bank of
       America NA) (I) 185,000 1,399
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 0
TOTAL PURCHASED OPTIONS (Cost $88,808) $ 1,399
 
SECURITIES LENDING COLLATERAL - 0.0%
John Hancock
       Collateral Trust, 0.1102% (W)(Y) 13,194 132,010
TOTAL SECURITIES LENDING
COLLATERAL (Cost $132,016) $ 132,010
 
SHORT-TERM INVESTMENTS - 29.7%
U.S. Government Agency - 12.2%
Federal Home Loan Bank Discount Notes
       0.065%, 06/03/2015* $ 38,000,000 $ 37,995,934
Repurchase agreement - 17.5%
Deutsche Bank Tri-Party Repurchase
       Agreement dated 03/31/2015 at 0.150%
       to be repurchased at $27,100,113 on
       04/01/2015, collateralized by
       $23,156,000 Federal National Mortgage
       Association, 6.030% due 10/08/2027
       (valued at $15,975,324, including
       interest) and $11,668,000 Federal Home
       Loan Bank Discount Notes, 0.003% due
       04/22/2015 (valued at $11,667,650,
       including interest) 27,100,000 27,100,000
Goldman Sachs Tri-Party Repurchase
       Agreement dated 03/31/2015 at 0.150%
       to be repurchased at $27,400,114 on
       04/01/2015, collateralized by
       $20,926,508 Government National
       Mortgage Association, 3.350% - 4.230%
       due 04/15/2030 - 1/15/2047 (valued at
       $22,349,652, including interest) and
       $5,297,513 Federal National Mortgage
       Association, 2.240% - 3.000% due
       06/01/2027 - 02/01/2045 (valued at
       $5,598,349, including interest) 27,400,000 27,400,000
54,500,000
TOTAL SHORT-TERM INVESTMENTS (Cost $92,495,677) $ 92,495,934
Total Investments (Investment Quality Bond Trust)
       (Cost $419,279,574) - 136.5% $ 424,727,626
Other assets and liabilities, net - (36.5%) (113,562,384 )
TOTAL NET ASSETS - 100.0% $ 311,165,242
 
Lifestyle Aggressive MVP
 
Shares or
Principal
Amount Value
AFFILIATED INVESTMENT COMPANIES (G) - 98.3%
Equity - 98.3%
All Cap Core, Series NAV (QS Investors) 466,131 $ 13,405,920
Alpha Opportunities, Series NAV (Wellington) 2,278,152 32,053,602
Blue Chip Growth, Series NAV (T.
       Rowe Price) 891,671 33,883,484
Capital Appreciation, Series NAV (Jennison) 1,697,786 27,775,786
Emerging Markets Value, Series NAV (DFA) 3,729,586 33,081,431
Equity-Income, Series NAV (T. Rowe Price) 2,380,433 44,966,380
Fundamental Large Cap Value, Series NAV
       (John Hancock) (A)(1) 2,565,597 44,949,263
International Core, Series NAV (GMO)   1,803,931 19,915,402
International Growth Opportunities,
       Series NAV (Baillie Gifford) 567,706   7,539,133
International Growth Stock,
       Series NAV (Invesco) 820,286 14,092,518
International Value, Series NAV (Templeton) 1,616,631 21,097,031
Mid Cap Stock, Series NAV (Wellington) 825,079 16,328,318
Mid Value, Series NAV (T. Rowe Price) 780,680   11,179,332
Real Estate Securities, Series NAV (Deutsche) 473,355 8,804,406
Small Cap Growth, Series NAV (Wellington) 355,960 4,406,790
Small Cap Opportunities,
       Series NAV (DFA/Invesco) 182,828 5,983,958  
Small Cap Value, Series NAV (Wellington) 116,104 2,968,785

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



John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Lifestyle Aggressive MVP (continued)

Shares or
Principal
Amount        Value
AFFILIATED INVESTMENT COMPANIES (G) (continued)
Equity (continued)
Small Company Growth,
       Series NAV (Invesco) (I) 98,561 $ 2,876,011
Small Company Value, Series NAV (T.
       Rowe Price) 137,087 3,432,658
Strategic Equity Allocation, Series NAV
       (John Hancock) (A)(1) 1,724,367 30,314,378  
Strategic Growth, Series NAV
       (John Hancock) (A)(1) 1,675,672 27,732,371
U.S. Equity, Series NAV (GMO) 1,370,912 26,719,066
SHORT-TERM INVESTMENTS - 0.8%
Commercial paper - 0.4%
Bank of Tokyo-Mitsubishi UFJ, Ltd.
       0.180%, 04/01/2015* $ 310,000 $ 310,000
Caisse Centrale Desjardins
       0.004%, 04/02/2015* 310,000 309,999
National Rural Utilities Cooperative
       Finance Corp.
       0.078%, 04/16/2015* 260,000 259,987
Novartis Finance Corp.
       0.053%, 04/10/2015* 280,000 279,993
Parker-Hannifin Corp.
       0.061%, 04/16/2015* 180,000 179,993
Swedbank AB
       0.046%, 04/07/2015* 280,000 279,995
U.S. Treasury Notes - 0.4%    
U.S. Treasury Notes
       0.250%, 07/31/2015 to 08/15/2015 * 1,655,000 1,655,647
       0.375%, 06/15/2015 * 310,000 310,170
Total Investments (Lifestyle Aggressive MVP)
       (Cost $366,869,293) - 99.1%   $ 437,091,807
Other assets and liabilities, net - 0.9% 3,897,343
TOTAL NET ASSETS - 100.0% $ 440,989,150
 
Lifestyle Aggressive PS Series
 
Shares or
Principal
Amount Value
AFFILIATED INVESTMENT COMPANIES (G) - 80.9%
Equity - 80.9%
Strategic Equity Allocation, Series NAV
       (John Hancock) (A)(1) 1,035,487 $ 18,203,866
UNAFFILIATED INVESTMENT COMPANIES - 19.2%
Exchange-traded funds - 19.2%
Financial Select Sector SPDR Fund 21,576 $ 520,197
Vanguard Energy ETF 2,316 253,092
Vanguard FTSE Emerging Markets ETF 29,261 1,195,897
Vanguard Health Care ETF 2,070 280,526
Vanguard Information Technology ETF 6,374 678,958
Vanguard Materials ETF 780 84,648
Vanguard Mid-Cap ETF 5,347 709,547
Vanguard REIT ETF 2,653 223,038
Vanguard Small-Cap ETF 3,031 371,479
Total Investments (Lifestyle Aggressive PS Series)
       (Cost $21,681,994) - 100.1% $ 22,521,248
Other assets and liabilities, net - (0.1%) (15,570 )
TOTAL NET ASSETS - 100.0% $ 22,505,678
 

Lifestyle Balanced MVP
 
Shares or
Principal
Amount Value
AFFILIATED INVESTMENT COMPANIES (G) - 99.2%
Equity - 50.8%
All Cap Core, Series NAV (QS Investors) 3,237,807 $ 93,119,331
Alpha Opportunities, Series NAV (Wellington) 16,305,236 229,414,674
Blue Chip Growth, Series NAV (T.
       Rowe Price) 4,970,728 188,887,674
Capital Appreciation, Series NAV (Jennison) 10,395,085 170,063,583
Emerging Markets Value, Series NAV (DFA) 31,839,834 282,419,328
Equity-Income, Series NAV (T. Rowe Price) 14,814,625 279,848,261
Fundamental Large Cap Value, Series NAV
       (John Hancock) (A)(1) 14,564,436 255,168,921
International Core, Series NAV (GMO) 18,869,450 208,318,723
International Growth Opportunities,
       Series NAV (Baillie Gifford) 6,330,106 84,063,812
International Growth Stock,
       Series NAV (Invesco) 8,827,386 151,654,498
International Value, Series NAV (Templeton) 17,469,904 227,982,250
Mid Cap Stock, Series NAV (Wellington) 6,500,996 128,654,719
Mid Value, Series NAV (T. Rowe Price) 9,061,086 129,754,753
Small Cap Growth, Series NAV (Wellington) 4,386,222 54,301,424
Small Cap Value, Series NAV (Wellington) 2,147,020 54,899,292
Small Company Growth,
       Series NAV (Invesco) (I) 1,526,394 44,540,171
Small Company Value, Series NAV (T.
       Rowe Price) 2,591,941 64,902,213
Strategic Equity Allocation, Series NAV
       (John Hancock) (A)(1) 114,968,417 2,021,144,772
Strategic Growth, Series NAV
       (John Hancock) (A)(1) 10,259,684 169,797,767
U.S. Equity, Series NAV (GMO) 9,416,649 183,530,492
Fixed income - 48.0%
Bond, Series NAV (John Hancock) (A)(1) 216,571,239 3,010,340,228
Core Bond, Series NAV (Wells Capital) 30,599,885 409,732,466
Global Bond, Series NAV (PIMCO) 15,656,756 193,830,637
New Income, Series NAV (T. Rowe Price) 53,549,799 710,070,341
Short Term Government Income, Series NAV
       (John Hancock) (A)(1) 5,498,189 68,617,404
Total Return, Series NAV (PIMCO) 24,649,301 345,090,208
Alternative - 0.4%
Global Conservative Absolute Return,
       Series NAV (Standard Life) 3,645,564 36,163,996
SHORT-TERM INVESTMENTS - 0.4%
Commercial paper - 0.2%
Bank of Tokyo-Mitsubishi UFJ, Ltd.
       0.180%, 04/01/2015* $ 3,045,000 $ 3,045,000
Caisse Centrale Desjardins
       0.004%, 04/02/2015* 3,045,000 3,044,989
National Rural Utilities Cooperative
       Finance Corp.
       0.066%, 04/16/2015* 2,850,000 2,849,858
Novartis Finance Corp.
       0.053%, 04/10/2015* 3,030,000 3,029,924
Parker-Hannifin Corp.
       0.065%, 04/16/2015* 1,970,000 1,969,918
Swedbank AB
       0.042%, 04/07/2015* 3,030,000 3,029,950
U.S. Treasury Notes - 0.2%
U.S. Treasury Notes
       0.375%, 06/15/2015 * 6,265,000 6,268,427
       2.125%, 05/31/2015 * 5,500,000 5,516,759

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (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)
       2.500%, 04/30/2015 * $ 6,555,000 $ 6,566,779
Total Investments (Lifestyle Balanced MVP)
       (Cost $8,619,728,810) - 99.6% $ 9,831,633,542
Other assets and liabilities, net - 0.4% 43,428,391  
TOTAL NET ASSETS - 100.0% $ 9,875,061,933
 
Lifestyle Balanced PS Series
 
Shares or
Principal
Amount Value
AFFILIATED INVESTMENT COMPANIES (G) - 100.0%
Equity - 49.8%
Strategic Equity Allocation, Series NAV
       (John Hancock) (A)(2) 29,006,114 $ 509,927,481
Fixed income - 50.2%
Bond Trust, Series NAV (John Hancock) (A)(1) 37,023,517 514,626,895
Total Investments (Lifestyle Balanced PS Series)
       (Cost $989,612,550) - 100.0% $ 1,024,554,376
Other assets and liabilities, net - 0.0% (32,710 )
TOTAL NET ASSETS - 100.0% $ 1,024,521,666
 
Lifestyle Conservative MVP
 
Shares or
Principal
Amount Value
AFFILIATED INVESTMENT COMPANIES (G) - 98.9%
Equity - 19.9%
Blue Chip Growth, Series NAV (T.
       Rowe Price) 472,711 $ 17,963,031
Capital Appreciation, Series NAV (Jennison) 603,971 9,880,967
Equity-Income, Series NAV (T. Rowe Price) 1,478,105 27,921,397
Fundamental All Cap Core, Series NAV
       (John Hancock) (A)(1) 2,337,760 35,697,591
International Core, Series NAV (GMO) 2,973,371 32,826,013
International Growth Opportunities,
       Series NAV (Baillie Gifford) 447,089 5,937,344
International Growth Stock,
       Series NAV (Invesco) 553,440 9,508,091
International Value, Series NAV (Templeton) 2,710,750 35,375,294
Mid Cap Stock, Series NAV (Wellington) 460,528   9,113,848
Mid Value, Series NAV (T. Rowe Price) 640,329 9,169,507
Small Cap Growth, Series NAV (Wellington) 589,965 7,303,761
Small Cap Value, Series NAV (Wellington) 471,440 12,054,731
Strategic Equity Allocation, Series NAV
       (John Hancock) (A)(1)   8,053,965 141,588,703
Fixed income - 78.3%  
Bond, Series NAV (John Hancock) (A)(1) 64,523,327 896,874,252
Core Bond, Series NAV (Wells Capital)   8,971,968 120,134,649
Global Bond, Series NAV (PIMCO) 4,810,447 59,553,339
New Income, Series NAV (T. Rowe Price) 15,773,370 209,154,889
Short Term Government Income, Series NAV
       (John Hancock) (A)(1) 1,580,393 19,723,305
Total Return, Series NAV (PIMCO) 6,420,061 89,880,858
Alternative - 0.7%
Global Conservative Absolute Return,
       Series NAV (Standard Life) 1,192,189 11,826,518
SHORT-TERM INVESTMENTS - 0.7%
Commercial paper - 0.3%
Bank of Tokyo-Mitsubishi UFJ, Ltd. 0.180%,
       04/01/2015 * $ 855,000 $ 855,000
Caisse Centrale Desjardins 0.004%,
       04/02/2015 * 845,000 844,997
National Rural Utilities Cooperative
       Finance Corp. 0.067%, 04/16/2015 * 835,000 834,958
Novartis Finance Corp. 0.052%, 04/10/2015 * 855,000 854,979
Parker-Hannifin Corp. 0.065%, 04/16/2015 * 555,000 554,977
Swedbank AB 0.042%, 04/07/2015 * 855,000 854,986
U.S. Treasury Notes - 0.5%
U.S. Treasury Notes
       0.250%, 07/31/2015 to 08/15/2015 * 2,915,000 2,916,140
       0.375%, 06/15/2015 * 1,770,000 1,770,968
       2.125%, 05/31/2015 * 1,700,000 1,705,180
       2.500%, 04/30/2015 * 1,655,000 1,657,974
Total Investments (Lifestyle Conservative MVP)
       (Cost $1,717,629,138) - 99.6% $ 1,774,338,247
Other assets and liabilities, net - 0.4% 6,690,080
TOTAL NET ASSETS - 100.0% $ 1,781,028,327
 
Lifestyle Conservative PS Series
 
Shares or
Principal
Amount Value
AFFILIATED INVESTMENT COMPANIES (G) - 100.0%
Equity
Strategic Equity Allocation, Series NAV
       (John Hancock) (A)(1) 2,209,408 $ 38,841,401
Fixed income
Bond, Series NAV (John Hancock) (A)(1) 11,297,322 157,032,772
Total Investments (Lifestyle Conservative PS Series)
       (Cost $191,673,220) - 100.0% $ 195,874,173
Other assets and liabilities, net - 0.0% (20,333 )
TOTAL NET ASSETS - 100.0% $ 195,853,840
 
Lifestyle Growth MVP
 
Shares or
Principal
Amount Value
AFFILIATED INVESTMENT COMPANIES (G) - 98.9%
Equity - 71.9%
All Cap Core, Series NAV (QS Investors) 4,633,644 $ 133,263,608
Alpha Opportunities, Series NAV (Wellington) 31,363,081 441,278,553
Blue Chip Growth, Series NAV (T.
       Rowe Price) 9,971,803 378,928,508
Capital Appreciation, Series NAV (Jennison) 20,699,673 338,646,643
Emerging Markets Value, Series NAV (DFA) 49,615,761 440,091,799
Equity-Income, Series NAV (T. Rowe Price) 28,817,854 544,369,269
Fundamental Large Cap Value, Series NAV
       (John Hancock) (A)(1) 29,492,625 516,710,784

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Lifestyle Growth MVP (continued)

Shares or
Principal
Amount        Value
AFFILIATED INVESTMENT COMPANIES (G) (continued)
Equity (continued)
International Core, Series NAV (GMO) 27,619,938 $ 304,924,116
International Growth Opportunities,
       Series NAV (Baillie Gifford) 9,810,146 130,278,737
International Growth Stock,
       Series NAV (Invesco) 12,992,421 223,209,800
International Value, Series NAV (Templeton) 26,933,172 351,477,897
Mid Cap Stock, Series NAV (Wellington) 8,639,703 170,979,724
Mid Value, Series NAV (T. Rowe Price) 12,027,718 172,236,928
Small Cap Growth, Series NAV (Wellington) 7,197,779 89,108,501
Small Cap Opportunities,
       Series NAV (DFA/Invesco) 2,266,270 74,175,027
Small Cap Value, Series NAV (Wellington) 2,802,527 71,660,620
Small Company Growth,
       Series NAV (Invesco) (I) 2,498,897 72,917,824
Small Company Value, Series NAV (T.
       Rowe Price) 4,217,457 105,605,124
Strategic Equity Allocation, Series NAV
       (John Hancock) (A)(1) 202,895,055 3,566,895,068
Strategic Growth, Class NAV
       (John Hancock) (A)(1) 20,430,050 338,117,324
U.S. Equity, Series NAV (GMO) 21,028,653 409,848,456
Fixed income - 26.7%
Bond, Series NAV (John Hancock) (A)(1) 146,242,131 2,032,765,625
Core Bond, Series NAV (Wells Capital) 22,784,362 305,082,608
Global Bond, Series NAV (PIMCO) 11,232,921 139,063,557
New Income, Series NAV (T. Rowe Price) 39,820,227 528,016,205
Short Term Government Income, Series NAV
       (John Hancock) (A)(1) 3,509,953 43,804,211
Total Return, Series NAV (PIMCO) 18,235,731 255,300,233
Alternative - 0.3%
Global Conservative Absolute Return,
       Series NAV (Standard Life) 3,907,769 38,765,068
SHORT-TERM INVESTMENTS - 0.5%
Commercial paper - 0.2%
Bank of Tokyo-Mitsubishi UFJ, Ltd. 0.180%,
       04/01/2015 * $ 4,405,000 $ 4,405,000
Caisse Centrale Desjardins 0.046%,
       04/02/2015 * 4,420,000 4,419,983
National Rural Utilities Cooperative
       Finance Corp. 0.067%, 04/16/2015 * 4,685,000 4,684,766
Novartis Finance Corp. 0.053%, 04/10/2015 * 4,570,000 4,569,886
Parker-Hannifin Corp. 0.065%, 04/16/2015 * 2,970,000 2,969,876
Swedbank AB 0.043%, 04/07/2015 * 4,570,000 4,569,924
U.S. Treasury Notes - 0.3%
U.S. Treasury Notes
       0.250%, 07/31/2015 to 08/15/2015 * 22,400,000 22,408,758
       0.375%, 06/15/2015 * 1,695,000 1,695,927
       1.250%, 09/30/2015 * 8,800,000 8,847,441
Total Investments (Lifestyle Growth MVP)
       (Cost $10,128,588,510) - 99.4% $ 12,276,093,378
Other assets and liabilities, net - 0.6% 71,722,746
TOTAL NET ASSETS - 100.0% $ 12,347,816,124
 

Lifestyle Growth PS Series
 
Shares or
Principal
Amount Value
AFFILIATED INVESTMENT COMPANIES (G) - 100.0%
Equity
Strategic Equity Allocation, Series NAV
       (John Hancock) (A)(1) 81,278,185 $ 1,428,870,493
Fixed income
Bond, Series NAV (John Hancock) (A)(1) 44,550,434 619,251,036
Total Investments (Lifestyle Growth PS Series)
       (Cost $1,968,720,359) - 100.0% $ 2,048,121,529
Other assets and liabilities, net - 0.0% (33,049 )
TOTAL NET ASSETS - 100.0% $ 2,048,088,480
 
Lifestyle Moderate MVP
             
Shares or
Principal
Amount Value
AFFILIATED INVESTMENT COMPANIES (G) - 98.8%
Equity - 39.7%
Alpha Opportunities, Series NAV (Wellington) 3,567,686 $ 50,197,335
Blue Chip Growth, Series NAV (T.
       Rowe Price) 1,339,057 50,884,183
Capital Appreciation, Series NAV (Jennison) 1,519,401 24,857,406
Equity-Income, Series NAV (T. Rowe Price) 5,389,476 101,807,194
Fundamental All Cap Core, Series NAV
       (John Hancock) (A)(1) 5,617,758   85,783,160
International Core, Series NAV (GMO) 6,091,824 67,253,734
International Growth Opportunities,  
       Series NAV (Baillie Gifford) 1,839,286   24,425,721
International Growth Stock,
       Series NAV (Invesco)   2,586,549 44,436,920
International Value, Series NAV (Templeton) 6,002,015 78,326,291
Mid Cap Stock, Series NAV (Wellington) 1,264,524 25,024,935
Mid Value, Series NAV (T. Rowe Price) 1,781,499 25,511,072
Small Cap Growth, Series NAV (Wellington) 1,054,129 13,050,113
Small Cap Value, Series NAV (Wellington) 560,534 14,332,859
Small Company Growth,
       Series NAV (Invesco) (I) 350,885 10,238,817
Small Company Value, Series NAV (T.
       Rowe Price) 630,858 15,796,689
Strategic Equity Allocation, Series NAV
       (John Hancock) (A)(1) 25,895,670 455,245,878
Strategic Growth, Class NAV
       (John Hancock) (A)(1) 1,499,610 24,818,553
U.S. Equity, Series NAV (GMO) 1,313,561 25,601,307
Fixed income - 58.6%
Bond, Series NAV (John Hancock) (A)(1) 77,312,489 1,074,643,600
Core Bond, Series NAV (Wells Capital) 10,852,134 145,310,070
Global Bond, Series NAV (PIMCO) 5,241,968 64,895,565
New Income, Series NAV (T. Rowe Price) 18,959,568 251,403,874
Short Term Government Income, Series NAV
       (John Hancock) (A)(1) 1,796,933 22,425,725
Total Return, Series NAV (PIMCO) 8,674,566 121,443,924
Alternative - 0.5%
Global Conservative Absolute Return,
       Series NAV (Standard Life) 1,419,712 14,083,543
SHORT-TERM INVESTMENTS - 0.6%
Commercial paper - 0.3%
Bank of Tokyo-Mitsubishi UFJ, Ltd. 0.180%,
       04/01/2015 * $ 1,385,000 $ 1,385,000
Caisse Centrale Desjardins 0.004%,
       04/02/2015 * 1,380,000 1,379,995

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Lifestyle Moderate MVP (continued)

Shares or
Principal
Amount        Value
SHORT-TERM INVESTMENTS (continued)
Commercial paper (continued)
National Rural Utilities Cooperative
       Finance Corp. 0.066%, 04/16/2015 * $ 1,370,000 $ 1,369,932
Novartis Finance Corp. 0.054%, 04/10/2015 * 1,265,000 1,264,968
Parker-Hannifin Corp. 0.065%, 04/16/2015 * 825,000 824,966
Swedbank AB 0.043%, 04/07/2015 * 1,265,000 1,264,979
U.S. Treasury Notes - 0.3%
U.S. Treasury Notes
       0.250%, 08/15/2015 * 3,065,000 3,066,198
       0.375%, 06/15/2015 * 2,680,000 2,681,466
       2.125%, 05/31/2015 * 1,300,000 1,303,961
       2.500%, 04/30/2015 * 2,705,000 2,709,861
Total Investments (Lifestyle Moderate MVP)
       (Cost $2,587,804,958) - 99.4% $ 2,849,049,794
Other assets and liabilities, net - 0.6% 17,145,421
TOTAL NET ASSETS - 100.0% $ 2,866,195,215
 
Lifestyle Moderate PS Series
Shares or
Principal
Amount Value
AFFILIATED INVESTMENT COMPANIES (G) - 100.0%
Equity
Strategic Equity Allocation, Series NAV  
       (John Hancock) (A)(1) 7,881,501 $ 138,556,777  
Fixed income
Bond, Series NAV (John Hancock) (A)(1) 15,040,294 209,060,091
Total Investments (Lifestyle Moderate PS Series)    
       (Cost $336,716,431) - 100.0% $ 347,616,868
Other assets and liabilities, net - 0.0% (21,588 )
TOTAL NET ASSETS - 100.0% $ 347,595,280
 
Mid Cap Index Trust
             
Shares or
Principal
Amount Value
COMMON STOCKS - 96.1%
Consumer discretionary - 13.3%
Auto components - 0.5%
Dana Holding Corp. 87,442 $ 1,850,273
Gentex Corp. 156,694 2,867,500
4,717,773
Automobiles - 0.2%
Thor Industries, Inc. 24,649 1,558,063
Distributors - 0.5%
LKQ Corp. (I) 161,363 4,124,438
Diversified consumer services - 0.9%
Apollo Education Group, Inc. (I) 51,254 969,726
DeVry Education Group, Inc. 30,465 1,016,312
Graham Holdings Company, Class B 2,349 2,465,581
Service Corp. International 107,661 2,804,569
Sotheby’s (L) 32,583 1,376,958
8,633,146
Hotels, restaurants and leisure - 1.8%
Brinker International, Inc. 33,493 2,061,829
Buffalo Wild Wings, Inc. (I) 10,049 1,821,281
Domino’s Pizza, Inc. 29,520 2,968,236
International Game Technology 131,281 2,285,595
International Speedway Corp., Class A 14,832 483,672
Life Time Fitness, Inc. (I) 19,047 1,351,575
Panera Bread Company, Class A (I) 13,518 2,162,812
The Cheesecake Factory, Inc. 24,651 1,216,034
The Wendy’s Company 146,310 1,594,779
15,945,813
Household durables - 1.8%
Jarden Corp. (I) 95,203 5,036,239
KB Home 48,306 754,540
MDC Holdings, Inc. (L) 20,735 590,948
NVR, Inc. (I) 2,041 2,711,795
Tempur Sealy International, Inc. (I) 32,328 1,866,619
Toll Brothers, Inc. (I) 84,806 3,336,268
Tupperware Brands Corp. 26,397 1,821,921
16,118,330
Internet and catalog retail - 0.1%
HSN, Inc. 17,250 1,176,968
Leisure products - 0.9%
Brunswick Corp. 49,255 2,534,170
Polaris Industries, Inc. 32,376 4,568,254
Vista Outdoor, Inc. (I) 33,850 1,449,457
8,551,881
Media - 1.4%
AMC Networks, Inc., Class A (I) 31,345 2,402,281
Cinemark Holdings, Inc. 55,258 2,490,478
DreamWorks Animation
       SKG, Inc., Class A (I)(L) 38,437 930,175
John Wiley & Sons, Inc., Class A 24,616 1,505,022
Live Nation Entertainment, Inc. (I) 76,987 1,942,382
Meredith Corp. 19,377 1,080,655
The New York Times Company, Class A 69,795 960,379
Time, Inc. 58,099 1,303,742
12,615,114
Multiline retail - 0.3%
Big Lots, Inc. 28,364 1,362,323
J.C. Penney Company, Inc. (I)(L) 161,790 1,360,654
2,722,977
Specialty retail - 4.2%
Aaron’s, Inc. 34,254 969,731
Abercrombie & Fitch Company, Class A 36,791 810,874
Advance Auto Parts, Inc. 38,812 5,809,768
American Eagle Outfitters, Inc. 93,137 1,590,780
ANN, Inc. (I) 24,259 995,347
Ascena Retail Group, Inc. (I) 69,942 1,014,858
Cabela’s, Inc. (I)(L) 25,298 1,416,182
Chico’s FAS, Inc. 81,803 1,447,095
CST Brands, Inc. 40,933 1,794,093
Dick’s Sporting Goods, Inc. 52,060 2,966,899
Foot Locker, Inc. 75,397 4,750,011
Guess?, Inc. 33,916 630,498
Murphy USA, Inc. (I) 22,820 1,651,483
Office Depot, Inc. (I) 260,461 2,396,241
Rent-A-Center, Inc. 28,072 770,296
Signet Jewelers, Ltd. 42,546 5,904,959

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Mid Cap Index Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Specialty retail (continued)
Williams-Sonoma, Inc. 45,446 $ 3,622,501
38,541,616
Textiles, apparel and luxury goods - 0.7%
Carter’s, Inc. 28,020 2,591,009
Deckers Outdoor Corp. (I) 18,343 1,336,654
Kate Spade & Company (I) 67,613 2,257,598
6,185,261
120,891,380
Consumer staples - 3.8%
Beverages - 0.1%
The Boston Beer Company, Inc., Class A (I) 4,813 1,286,996
Food and staples retailing - 0.4%
SUPERVALU, Inc. (I) 109,536 1,273,904
United Natural Foods, Inc. (I) 26,534 2,044,179
3,318,083
Food products - 2.0%
Dean Foods Company 49,962 825,872
Flowers Foods, Inc. 97,785 2,223,631
Ingredion, Inc. 37,944 2,952,802
Lancaster Colony Corp. 10,305 980,727
Post Holdings, Inc. (I) 27,774 1,300,934
The Hain Celestial Group, Inc. (I) 53,975 3,457,099
The WhiteWave Foods Company (I) 92,562 4,104,199
Tootsie Roll Industries, Inc. (L) 10,845 367,857
TreeHouse Foods, Inc. (I) 22,706 1,930,464
18,143,585
Household products - 1.1%
Church & Dwight Company, Inc. 69,285 5,918,325
Energizer Holdings, Inc. 32,966 4,550,956
10,469,281
Personal products - 0.2%
Avon Products, Inc. 230,697 1,843,269
35,061,214
Energy - 4.2%
Energy equipment and services - 2.0%
Atwood Oceanics, Inc. 31,880 896,147
Dresser-Rand Group, Inc. (I) 40,678 3,268,477
Dril-Quip, Inc. (I) 20,568 1,406,646
Helix Energy Solutions Group, Inc. (I) 52,253 781,705
Nabors Industries, Ltd. 153,556 2,096,039
Oceaneering International, Inc. 52,860 2,850,740
Oil States International, Inc. (I) 27,261 1,084,170
Patterson-UTI Energy, Inc. 77,698 1,458,780
Rowan Companies PLC, Class A 66,087 1,170,401
Superior Energy Services, Inc. 80,740 1,803,732
Tidewater, Inc. (L) 25,063 479,706
Unit Corp. (I) 24,583 687,832
17,984,375
Oil, gas and consumable fuels - 2.2%
California Resources Corp. 163,704 1,245,787
Denbury Resources, Inc. 187,500 1,366,875
Energen Corp. 38,731 2,556,246
Gulfport Energy Corp. (I) 45,467 2,087,390
HollyFrontier Corp. 104,050 4,190,094
Peabody Energy Corp. (L) 145,826 717,464
Rosetta Resources, Inc. (I) 39,036 664,393
SM Energy Company 35,798 1,850,041
Western Refining, Inc. 37,484 1,851,335
World Fuel Services Corp. 38,254 2,198,840
WPX Energy, Inc. (I) 108,178 1,182,386
19,910,851
37,895,226
Financials - 22.6%
Banks - 4.7%
Associated Banc-Corp. 78,908 1,467,689
BancorpSouth, Inc. 45,476 1,055,953
Bank of Hawaii Corp. 23,177 1,418,664
Cathay General Bancorp 39,397 1,120,845
City National Corp. 25,527 2,273,945
Commerce Bancshares, Inc. 44,022 1,863,011
Cullen/Frost Bankers, Inc. 29,157 2,014,166
East West Bancorp, Inc. 76,184 3,082,405
First Horizon National Corp. 124,287 1,776,061
First Niagara Financial Group, Inc. 187,813 1,660,267
FirstMerit Corp. 87,767 1,672,839
Fulton Financial Corp. 94,660 1,168,104
Hancock Holding Company 42,686 1,274,604
International Bancshares Corp. 30,662 798,132
PacWest Bancorp 51,378 2,409,114
Prosperity Bancshares, Inc. 31,962 1,677,366
Signature Bank (I) 26,701 3,459,916
SVB Financial Group (I) 27,044 3,435,670
Synovus Financial Corp. 72,236 2,023,330
TCF Financial Corp. 87,331 1,372,843
Trustmark Corp. 35,842 870,244
Umpqua Holdings Corp. 116,948 2,009,167
Valley National Bancorp 117,225 1,106,604
Webster Financial Corp. 48,039 1,779,845
42,790,784
Capital markets - 1.8%
Eaton Vance Corp. 62,843 2,616,783
Federated Investors, Inc., Class B 50,609 1,715,139
Janus Capital Group, Inc. 78,485 1,349,157
Raymond James Financial, Inc. 67,432 3,828,789
SEI Investments Company 69,054 3,044,591
Stifel Financial Corp. (I) 35,181 1,961,341
Waddell & Reed Financial, Inc., Class A 44,343 2,196,752
16,712,552
Consumer finance - 0.2%
SLM Corp. (I) 224,714 2,085,346
Diversified financial services - 0.7%
CBOE Holdings, Inc. 44,577 2,558,943
MSCI, Inc. 59,631 3,655,977
6,214,920
Insurance - 4.5%
Alleghany Corp. (I) 8,492 4,135,604
American Financial Group, Inc. 38,893 2,494,986
Arthur J. Gallagher & Company 87,420 4,086,885
Aspen Insurance Holdings, Ltd. 33,026 1,559,818
Brown & Brown, Inc. 62,450 2,067,720
Everest Re Group, Ltd. 23,712 4,125,888
First American Financial Corp. 57,195 2,040,718
HCC Insurance Holdings, Inc. 51,220 2,902,637
Kemper Corp. 26,548 1,034,310
Mercury General Corp. 19,307 1,114,979
Old Republic International Corp. 127,815 1,909,556
Primerica, Inc. 27,723 1,411,101

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Mid Cap Index Trust (continued)

Shares or
Principal
Amount         Value
COMMON STOCKS (continued)
Insurance (continued)
Reinsurance Group of America, Inc. 36,493 $ 3,400,783
RenaissanceRe Holdings, Ltd. 24,284 2,421,843
StanCorp Financial Group, Inc. 22,363 1,534,102
The Hanover Insurance Group, Inc. 23,509 1,706,283
W.R. Berkley Corp. 53,410 2,697,739
40,644,952
Real estate investment trusts - 9.6%
Alexandria Real Estate Equities, Inc. 38,225 3,747,579
American Campus Communities, Inc. 59,528 2,551,965
BioMed Realty Trust, Inc. 106,834 2,420,858
Camden Property Trust 46,016 3,595,230
Corporate Office Properties Trust 49,092 1,442,323
Corrections Corp. of America 61,978 2,495,234
Duke Realty Corp. 182,932 3,982,430
Equity One, Inc. 41,104 1,097,066
Extra Space Storage, Inc. 58,677 3,964,805
Federal Realty Investment Trust 36,437 5,363,891
Highwoods Properties, Inc. 49,306 2,257,229
Home Properties, Inc. 30,666 2,124,847
Hospitality Properties Trust 79,566 2,624,882
Kilroy Realty Corp. 45,835 3,491,252
Lamar Advertising Company, Class A 42,586 2,524,072
LaSalle Hotel Properties 59,916 2,328,336
Liberty Property Trust 79,008   2,820,586
Mack-Cali Realty Corp. 44,429 856,591
Mid-America Apartment Communities, Inc. 39,955   3,087,323
National Retail Properties, Inc. 70,161 2,874,496
Omega Healthcare Investors, Inc. 73,557 2,984,207
Potlatch Corp. 21,548 862,782
Rayonier, Inc. 67,173 1,810,984
Realty Income Corp. 119,418 6,161,969
Regency Centers Corp. 49,949 3,398,530
Senior Housing Properties Trust 124,689 2,766,849
Tanger Factory Outlet Centers 50,099 1,761,982
Taubman Centers, Inc. 33,598 2,591,414
UDR, Inc. 137,315 4,672,829
Urban Edge Properties 46,377 1,099,135
Weingarten Realty Investors 59,807 2,151,856
WP Glimcher, Inc. 98,225 1,633,482
87,547,014
Real estate management and development - 0.6%
Alexander & Baldwin, Inc. 24,098 1,040,552
Jones Lang LaSalle, Inc. 23,791 4,053,986
5,094,538
Thrifts and mortgage finance - 0.5%
New York Community Bancorp, Inc. (L) 234,862 3,929,241
Washington Federal, Inc. 52,030 1,134,514
5,063,755
206,153,861
Health care - 8.9%
Biotechnology - 0.5%
United Therapeutics Corp. (I) 24,763 4,270,008
Health care equipment and supplies - 3.5%
Align Technology, Inc. (I) 38,550 2,073,412
Halyard Health, Inc. (I)(L) 24,693 1,214,896
Hill-Rom Holdings, Inc. 29,983 1,469,167
Hologic, Inc. (I) 129,242 4,268,217
IDEXX Laboratories, Inc. (I) 25,007 3,863,081
ResMed, Inc. (L) 74,585 5,353,711
Sirona Dental Systems, Inc. (I) 29,480 2,652,905
STERIS Corp. (L) 31,613 2,221,446
Teleflex, Inc. 21,991 2,657,173
The Cooper Companies, Inc. 25,624 4,802,450
Thoratec Corp. (I) 28,713 1,202,788
31,779,246
Health care providers and services - 2.8%
Centene Corp. (I) 63,050 4,457,005
Community Health Systems, Inc. (I) 61,938 3,238,119
Health Net, Inc. (I) 40,805 2,468,294
LifePoint Hospitals, Inc. (I) 23,452 1,722,549
MEDNAX, Inc. (I) 51,018 3,699,315
Omnicare, Inc. 51,530 3,970,902
Owens & Minor, Inc. 33,460 1,132,286
VCA, Inc. (I) 43,558 2,387,850
WellCare Health Plans, Inc. (I) 23,321 2,132,939
25,209,259
Health care technology - 0.2%
Allscripts Healthcare Solutions, Inc. (I) 90,042 1,076,902
HMS Holdings Corp. (I) 46,886 724,389
1,801,291
Life sciences tools and services - 1.1%
Bio-Rad Laboratories, Inc., Class A (I) 10,964 1,482,114
Bio-Techne Corp. 19,705 1,976,214
Charles River
       Laboratories International, Inc. (I) 25,113 1,991,210
Mettler-Toledo International, Inc. (I) 14,926 4,905,430
10,354,968
Pharmaceuticals - 0.8%
Akorn, Inc. (I) 39,482 1,875,790
Salix Pharmaceuticals, Ltd. (I)(L) 33,814 5,843,397
7,719,187
81,133,959
Industrials - 15.3%
Aerospace and defense - 2.0%
B/E Aerospace, Inc. 56,229 3,577,289
Esterline Technologies Corp. (I) 16,509 1,888,960
Exelis, Inc. 98,956 2,411,558
Huntington Ingalls Industries, Inc. 25,632 3,592,325
KLX, Inc. (I) 27,839 1,072,915
Orbital ATK, Inc. 31,463 2,411,010
Teledyne Technologies, Inc. (I) 18,714 1,997,345
Triumph Group, Inc. 26,771 1,598,764
18,550,166
Airlines - 0.8%
Alaska Air Group, Inc. 69,667 4,610,562
JetBlue Airways Corp. (I) 138,564 2,667,357
7,277,919
Building products - 1.0%
AO Smith Corp. 39,835 2,615,566
Fortune Brands Home & Security, Inc. 84,196 3,997,626
Lennox International, Inc. 21,811 2,436,071
9,049,263
Commercial services and supplies - 1.7%
Clean Harbors, Inc. (I) 28,448 1,615,277
Copart, Inc. (I) 60,386 2,268,702
Deluxe Corp. 26,474 1,834,119
Herman Miller, Inc. 31,566 876,272

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Mid Cap Index Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Commercial services and supplies (continued)
HNI Corp. 23,438 $ 1,293,074
MSA Safety, Inc. 16,694 832,697
R.R. Donnelley & Sons Company (L) 106,028 2,034,677
Rollins, Inc. 51,059 1,262,689
Waste Connections, Inc. 65,792 3,167,227
15,184,734
Construction and engineering - 0.5%
AECOM (I) 82,503 2,542,742
Granite Construction, Inc. 19,130 672,228
KBR, Inc. 76,846 1,112,730
4,327,700
Electrical equipment - 1.0%
Acuity Brands, Inc. 23,014 3,870,034
Hubbell, Inc., Class B 28,563 3,131,076
Regal-Beloit Corp. 23,724 1,896,022
8,897,132
Industrial conglomerates - 0.3%
Carlisle Companies, Inc. 34,587 3,203,794
Machinery - 4.4%
AGCO Corp. 42,694 2,033,942
CLARCOR, Inc. 26,641 1,759,904
Crane Company 25,933 1,618,479
Donaldson Company, Inc. 67,386 2,541,126
Graco, Inc. 31,304 2,258,897
Harsco Corp. 42,497 733,498
IDEX Corp. 41,514 3,148,007
ITT Corp. 48,289 1,927,214
Kennametal, Inc. 42,005   1,415,148
Lincoln Electric Holdings, Inc. 41,221 2,695,441
Nordson Corp. 30,392 2,380,909
Oshkosh Corp. 41,464 2,023,029
SPX Corp. 21,747 1,846,320
Terex Corp. 56,354 1,498,453
The Timken Company 39,531 1,665,836
Trinity Industries, Inc. 82,605 2,933,304
Valmont Industries, Inc. (L) 12,733 1,564,631
Wabtec Corp. 51,125 4,857,386
Woodward, Inc. 30,706 1,566,313
40,467,837
Marine - 0.2%
Kirby Corp. (I) 29,558 2,218,328
Professional services - 1.2%
FTI Consulting, Inc. (I) 21,953 822,359
ManpowerGroup, Inc. 41,551 3,579,619
The Corporate Executive Board Company 17,766 1,418,793
Towers Watson & Company, Class A 36,917 4,879,874
10,700,645
Road and rail - 1.5%
Con-way, Inc. 30,555 1,348,392
Genesee & Wyoming, Inc., Class A (I) 27,209 2,624,036
J.B. Hunt Transport Services, Inc. 48,845 4,171,119
Landstar System, Inc. 23,771 1,576,017
Old Dominion Freight Line, Inc. (I) 36,022 2,784,501
Werner Enterprises, Inc. 23,719 745,014
13,249,079
Trading companies and distributors - 0.7%
GATX Corp. 23,507 1,362,936
MSC Industrial Direct Company, Inc., Class A 26,922 1,943,768
NOW, Inc. (I)(L) 56,804 1,229,239
Watsco, Inc. 14,502 1,822,901
6,358,844
139,485,441
Information technology - 16.3%
Communications equipment - 1.0%
ARRIS Group, Inc. (I) 70,096 2,025,424
Ciena Corp. (I) 57,437 1,109,108
InterDigital, Inc. 19,706 999,882
JDS Uniphase Corp. (I) 123,472 1,619,953
Plantronics, Inc. 22,817 1,208,160
Polycom, Inc. (I) 71,201 954,093
Riverbed Technology, Inc. (I) 82,308 1,721,060
9,637,680
Electronic equipment, instruments and components - 3.7%
Arrow Electronics, Inc. (I) 50,753 3,103,546
Avnet, Inc. 72,366 3,220,287
Belden, Inc. 22,561 2,110,807
Cognex Corp. (I) 45,925 2,277,421
FEI Company 22,189 1,693,908
Ingram Micro, Inc., Class A (I) 82,909 2,082,674
IPG Photonics Corp. (I)(L) 18,897 1,751,752
Itron, Inc. (I) 20,309 741,482
Jabil Circuit, Inc. 102,530 2,397,151
Keysight Technologies, Inc. (I) 89,388 3,320,764
Knowles Corp. (I)(L) 45,141 869,867
National Instruments Corp. 53,717 1,721,093
Tech Data Corp. (I) 20,300 1,172,731
Trimble Navigation, Ltd. (I) 137,531 3,465,781
Vishay Intertechnology, Inc. 72,041 995,607
Zebra Technologies Corp., Class A (I) 27,022 2,451,301
33,376,172
Internet software and services - 0.5%
AOL, Inc. (I) 41,609 1,648,132
Rackspace Hosting, Inc. (I) 62,317 3,214,934
4,863,066
IT services - 3.2%
Acxiom Corp. (I) 41,006 758,201
Broadridge Financial Solutions, Inc. 64,136 3,528,121
Convergys Corp. 52,557 1,201,979
CoreLogic, Inc. (I) 47,647 1,680,510
DST Systems, Inc. 15,161 1,678,474
Gartner, Inc. (I) 46,444 3,894,329
Global Payments, Inc. 35,585 3,262,433
Jack Henry & Associates, Inc. 43,395 3,032,877
Leidos Holdings, Inc. 33,014 1,385,267
MAXIMUS, Inc. 34,949 2,333,195
NeuStar, Inc., Class A (I)(L) 29,563   727,841
Science Applications International Corp. 20,851 1,070,699
VeriFone Systems, Inc. (I) 60,355 2,105,786
WEX, Inc. (I) 20,587 2,210,220
28,869,932
Semiconductors and semiconductor equipment - 2.7%
Advanced Micro Devices, Inc. (I)(L) 334,092 895,367
Atmel Corp. 220,882 1,817,859
Cree, Inc. (I)(L) 59,236 2,102,286
Cypress Semiconductor Corp. (I) 168,636 2,379,454
Fairchild Semiconductor International, Inc. (I) 62,134 1,129,596
Integrated Device Technology, Inc. (I) 78,691 1,575,394
Intersil Corp., Class A 69,254 991,717

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Mid Cap Index Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Semiconductors and semiconductor equipment (continued)
Qorvo, Inc. (I) 78,785   $ 6,279,165
Semtech Corp. (I) 35,421 943,793
Silicon Laboratories, Inc. (I) 20,796 1,055,813
SunEdison, Inc. (I)(L) 133,721 3,209,304
Teradyne, Inc. 115,565 2,178,400
24,558,148
Software - 4.5%
ACI Worldwide, Inc. (I) 61,491 1,331,895
Advent Software, Inc. 23,890 1,053,788
ANSYS, Inc. (I) 47,771 4,212,924
Cadence Design Systems, Inc. (I) 155,121 2,860,431
CDK Global, Inc. 85,377 3,992,229
CommVault Systems, Inc. (I) 22,395 978,662
FactSet Research Systems, Inc. 20,583 3,276,814
Fair Isaac Corp. 16,676 1,479,495
Fortinet, Inc. (I) 75,271 2,630,721
Informatica Corp. (I) 58,070 2,546,660
Mentor Graphics Corp. 51,917 1,247,566
PTC, Inc. (I) 60,986 2,205,864
Rovi Corp. (I) 48,787 888,411
SolarWinds, Inc. (I) 35,209 1,804,109
Solera Holdings, Inc. 35,656 1,841,989
Synopsys, Inc. (I) 81,554 3,777,581
The Ultimate Software Group, Inc. (I) 15,180 2,579,917
Tyler Technologies, Inc. (I) 17,820 2,147,845
40,856,901
Technology hardware, storage and peripherals - 0.7%
3D Systems Corp. (I)(L) 55,472 1,521,042
Diebold, Inc. 34,335 1,217,519
Lexmark International, Inc., Class A 32,206 1,363,602
NCR Corp. (I) 89,511 2,641,470
6,743,633
148,905,532
Materials - 7.2%
Chemicals - 3.1%
Albemarle Corp. 59,515 3,144,773
Ashland, Inc. 33,815 4,304,988
Cabot Corp. 33,812 1,521,540
Cytec Industries, Inc. 37,826 2,044,117
Minerals Technologies, Inc. 18,415 1,346,137
NewMarket Corp. 5,613 2,681,891
Olin Corp. (L) 41,064 1,315,691
PolyOne Corp. 47,282 1,765,983
RPM International, Inc. 70,974 3,406,042
Sensient Technologies Corp. 25,218 1,737,016
The Scotts Miracle-Gro Company, Class A 23,573 1,583,398
The Valspar Corp. 39,666 3,333,134
28,184,710
Construction materials - 0.2%
Eagle Materials, Inc. 26,679 2,229,297
Containers and packaging - 2.0%
AptarGroup, Inc. 33,079 2,101,178
Bemis Company, Inc. 51,721 2,395,200
Greif, Inc., Class A 18,003 706,978
Packaging Corp. of America 52,215 4,082,691
Rock-Tenn Company, Class A 74,248 4,788,996
Silgan Holdings, Inc. 22,055 1,282,057
Sonoco Products Company 53,433 2,429,064
17,786,164
Metals and mining - 1.6%
Carpenter Technology Corp. 27,907 1,085,024
Cliffs Natural Resources, Inc. (L) 81,330 391,197
Commercial Metals Company 62,313 1,008,847
Compass Minerals International, Inc. 17,839 1,662,773
Reliance Steel & Aluminum Company 41,156 2,513,808
Royal Gold, Inc. 34,606 2,183,985
Steel Dynamics, Inc. 128,171 2,576,237
TimkenSteel Corp. 19,947 527,997
United States Steel Corp. (L) 77,295 1,885,998
Worthington Industries, Inc. 26,715 710,886
14,546,752
Paper and forest products - 0.3%
Domtar Corp. 33,830 1,563,623
Louisiana-Pacific Corp. (I) 75,540 1,247,165
2,810,788
65,557,711
Telecommunication services - 0.1%
Wireless telecommunication services - 0.1%
Telephone & Data Systems, Inc. 52,105 1,297,415
Utilities - 4.4%
Electric utilities - 1.6%
Cleco Corp. 32,089 1,749,492
Great Plains Energy, Inc. 81,804 2,182,531
Hawaiian Electric Industries, Inc. 54,504 1,750,668
IDACORP, Inc. 26,670 1,676,743
OGE Energy Corp. 105,853 3,346,013
PNM Resources, Inc. 42,268 1,234,226
Westar Energy, Inc. 70,117 2,717,735
14,657,408
Gas utilities - 1.5%
Atmos Energy Corp. 53,491 2,958,052
National Fuel Gas Company 44,715 2,697,656
ONE Gas, Inc. 27,670 1,196,174
Questar Corp. 93,123 2,221,915
UGI Corp. 91,688 2,988,112
WGL Holdings, Inc. 26,385 1,488,114
13,550,023
Multi-utilities - 1.0%
Alliant Energy Corp. 58,869 3,708,747
Black Hills Corp. 23,706 1,195,731
MDU Resources Group, Inc. 103,163 2,201,498
Vectren Corp. 43,829 1,934,612
9,040,588
Water utilities - 0.3%
Aqua America, Inc. 93,833 2,472,500
39,720,519
TOTAL COMMON STOCKS (Cost $552,460,089) $ 876,102,258
 
RIGHTS - 0.0%
Community Health Systems, Inc. (Expiration
       Date: 01/27/2016) (I)(N) 137,366 3,022
TOTAL RIGHTS (Cost $8,929) $ 3,022

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Mid Cap Index Trust (continued)

Shares or
Principal
Amount Value
SECURITIES LENDING COLLATERAL - 3.7%
John Hancock
       Collateral Trust, 0.1102% (W)(Y) 3,389,957 33,916,522  
TOTAL SECURITIES LENDING  
COLLATERAL (Cost $33,917,062)       $ 33,916,522
 
SHORT-TERM INVESTMENTS - 3.8%
Repurchase agreement - 3.8%
Repurchase Agreement with State Street Corp.
       dated 03/31/2015 at 0.000% to be
       repurchased at $34,756,000 on 04/01/2015,
       collateralized by $28,110,000 U.S. Treasury
       Bonds, 3.750% due 11/15/2043 (valued at
       $35,455,143, including interest) $ 34,756,000 $ 34,756,000
TOTAL SHORT-TERM INVESTMENTS (Cost $34,756,000) $ 34,756,000
Total Investments (Mid Cap Index Trust)
       (Cost $621,142,080) - 103.6% $ 944,777,802
Other assets and liabilities, net - (3.6%) (33,187,827 )
TOTAL NET ASSETS - 100.0% $ 911,589,975

Mid Cap Stock Trust

Shares or
Principal
Amount Value
COMMON STOCKS - 92.2%
Consumer discretionary - 19.7%
Automobiles - 1.2%
Tesla Motors, Inc. (I)(L) 56,492       $ 10,663,989
Diversified consumer services - 0.1%  
The Honest Company, Inc. (I)(R) 28,542 711,267
Hotels, restaurants and leisure - 7.0%
Chipotle Mexican Grill, Inc. (I) 22,490 14,630,645
Diamond Resorts International, Inc. (I) 486,615 16,267,539
Hilton Worldwide Holdings, Inc. (I) 285,114 8,445,077
Panera Bread Company, Class A (I) 66,229 10,596,309
Wyndham Worldwide Corp. 105,812 9,572,812
59,512,382
Household durables - 3.4%
GoPro, Inc., Class A (I)(L) 186,555 8,098,353
Harman International Industries, Inc. 83,612 11,173,072
Whirlpool Corp. 48,695 9,839,312
29,110,737
Internet and catalog retail - 2.4%
Netflix, Inc. (I) 48,075 20,032,372
Media - 1.6%
IMAX Corp. (I) 407,916 13,750,848
Specialty retail - 1.6%
Advance Auto Parts, Inc. 88,377 13,229,153
Textiles, apparel and luxury goods - 2.4%
Kate Spade & Company (I) 302,522 10,101,210
Samsonite International SA 3,077,980 10,710,447
20,811,657
167,822,405
Consumer staples - 2.9%
Beverages - 1.3%
Monster Beverage Corp. (I) 83,387 11,540,344
Food and staples retailing - 1.6%
Whole Foods Market, Inc. 254,937 13,277,119
24,817,463
Energy - 1.8%
Oil, gas and consumable fuels - 1.8%
Diamondback Energy, Inc. (I) 67,196 5,163,341
Energen Corp. 75,439 4,978,974
Pioneer Natural Resources Company 31,974 5,228,069
15,370,384
15,370,384
Financials - 6.7%
Capital markets - 2.2%
GF Securities Company, Ltd., H Shares (I) 179,400 436,198
Julius Baer Group, Ltd. (I) 162,900 8,142,364
Northern Trust Corp. 151,824 10,574,542
19,153,104
Diversified financial services - 0.5%
Nomad Holdings, Ltd. (I) 375,429 4,219,032
Insurance - 1.2%
Assured Guaranty, Ltd. 376,665 9,940,189
Real estate - 0.0%
WeWork Companies, Inc., Class A (I)(R) 18,198 303,018
Real estate investment trusts - 1.3%
Paramount Group, Inc. 565,380 10,911,834
Real estate management and development - 1.5%
CBRE Group, Inc., Class A (I) 321,041 12,427,497
56,954,674
Health care - 17.7%
Biotechnology - 2.7%
Alnylam Pharmaceuticals, Inc. (I) 37,020 3,865,628
Incyte Corp. (I) 52,987 4,856,788
Isis Pharmaceuticals, Inc. (I) 67,620 4,305,365
Regeneron Pharmaceuticals, Inc. (I) 21,758 9,823,302
22,851,083
Health care equipment and supplies - 6.2%
Becton, Dickinson and Company 96,474 13,852,702
DexCom, Inc. (I) 276,070 17,210,204
HeartWare International, Inc. (I)(L) 119,266 10,467,977
Insulet Corp. (I) 350,137 11,677,069
53,207,952
Health care providers and services - 1.2%
Envision Healthcare Holdings, Inc. (I) 262,651 10,072,666
Health care technology - 2.1%
Cerner Corp. (I) 119,502 8,754,717
Veeva Systems, Inc., Class A (I)(L) 361,334 9,224,857
17,979,574
Pharmaceuticals - 5.5%
Actavis PLC (I) 49,504 14,733,380
Eisai Company, Ltd. 95,800 6,814,045
Mylan NV (I) 186,131 11,046,875
Ono Pharmaceutical Company, Ltd. 124,970 14,102,106
46,696,406
150,807,681

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Mid Cap Stock Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Industrials - 16.7%
Aerospace and defense - 2.9%
DigitalGlobe, Inc. (I) 391,430       $ 13,336,020
Textron, Inc. 263,232 11,669,075
25,005,095
Airlines - 1.1%
Spirit Airlines, Inc. (I) 121,762 9,419,508
Building products - 2.2%
Fortune Brands Home & Security, Inc. 192,602 9,144,743
Owens Corning 218,535 9,484,419
18,629,162
Construction and engineering - 1.6%
AECOM (I) 451,744 13,922,750
Electrical equipment - 3.7%
Acuity Brands, Inc. 70,527 11,859,820
AMETEK, Inc. 126,294 6,635,487
Generac Holdings, Inc. (I)(L) 259,151 12,618,062
31,113,369
Machinery - 0.1%
Middleby Corp. (I) 9,500 975,175
Professional services - 0.9%
IHS, Inc., Class A (I) 70,270 7,993,915
Road and rail - 3.1%
Genesee & Wyoming, Inc., Class A (I) 82,671 7,972,791
Kansas City Southern 80,086 8,175,179
Landstar System, Inc. 151,913 10,071,832
26,219,802
Trading companies and distributors - 1.1%
HD Supply Holdings, Inc. (I) 285,228 8,886,278
142,165,054
Information technology - 23.6%
Communications equipment - 2.2%
Arista Networks, Inc. (I)(L) 144,658 10,202,729
F5 Networks, Inc. (I) 77,685 8,929,114
19,131,843
Electronic equipment, instruments and components - 3.9%
CDW Corp. 294,258 10,958,168
Cognex Corp. (I) 173,954 8,626,379
TE Connectivity, Ltd. 186,524 13,358,849
32,943,396
Internet software and services - 7.4%
Akamai Technologies, Inc. (I) 209,080 14,854,089
CoStar Group, Inc. (I) 76,165 15,067,722
Equinix, Inc. 39,886 9,287,455
New Relic, Inc. (I)(L) 17,900 621,130
New Relic, Inc. (I) 51,808 1,740,687
Shutterstock, Inc. (I)(L) 150,457 10,331,882
Zillow Group, Inc., Class A (I)(L) 106,825 10,714,548
62,617,513
Semiconductors and semiconductor equipment - 4.0%
First Solar, Inc. (I) 82,049 4,905,710
NXP Semiconductors NV (I) 160,844 16,142,304
Sumco Corp. 390,400 6,537,872
SunEdison, Inc. (I)(L) 272,231 6,533,544
34,119,430
Software - 6.1%
Cadence Design Systems, Inc. (I) 179,626 3,312,303
FactSet Research Systems, Inc. 40,369 6,426,745
Mobileye NV (I)(L) 228,106 9,587,295
ServiceNow, Inc. (I) 34,297 2,701,918
Solera Holdings, Inc. 201,175 10,392,701
Tyler Technologies, Inc. (I) 62,124 7,487,806
Workday, Inc., Class A (I) 143,653 12,125,750
52,034,518
200,846,700
Materials - 3.1%
Chemicals - 1.8%
Platform Specialty Products Corp. (I) 599,168 15,374,651
Construction materials - 1.3%
Martin Marietta Materials, Inc. 78,121 10,921,316
26,295,967
TOTAL COMMON STOCKS (Cost $674,236,620) $ 785,080,328
 
PREFERRED SECURITIES - 7.8%
Consumer discretionary - 0.2%
The Honest Company, Inc. (I)(R) 66,598 1,659,622
Financials - 0.9%
Forward Venture (I)(R) 103,425 2,927,041
Redfin Corp. (I)(R) 553,613 1,825,650
WeWork Companies, Inc., Series D1 (I)(R) 90,446 1,506,031
WeWork Companies, Inc., Series D2 (I)(R) 71,065 1,183,315
7,442,037
Health care - 0.2%
ConforMIS, Inc. (I)(R) 203,582 1,628,656
Industrials - 0.4%
Lithium Technology Corp. (I)(R) 631,698 3,284,830
Information technology - 6.1%
Apigee Corp., Series H (I)(R) 1,073,547 4,208,304
Birst, Inc. (I) 328,201 1,916,989
DocuSign, Inc., Series B (I)(R) 6,185 92,899
DocuSign, Inc., Series B1 (I)(R) 1,853 27,832
DocuSign, Inc., Series D (I)(R) 4,445 66,764
DocuSign, Inc., Series E (I)(R) 114,951 1,726,564
DraftKings, Inc. (I)(R) 541,740 975,827
Essence Group Holdings Corp. (I)(R) 1,459,559 2,758,567
Lookout, Inc., Series F (I)(R) 185,829 2,122,743
Nutanix, Inc. (I)(R) 148,220 2,319,643
One Kings Lane, Inc. (I)(R) 302,694 4,416,305
Pinterest, Inc., Series G (I)(R) 58,418 2,096,941
Pure Storage, Inc., Series F (I)(R) 211,388 3,747,909
Uber Technologies, Inc. (I)(R) 584,504 19,474,212
Veracode, Inc. (I)(R) 136,934 3,750,622
Zuora, Inc., Series F (I)(R) 715,736 2,719,296
52,421,417
TOTAL PREFERRED SECURITIES (Cost $52,754,168) $ 66,436,562
 
WARRANTS - 0.0%
Nomad Holdings, Ltd. (Expiration Date:
       04/10/2017; Strike Price: $11.50) (I) 375,400 152,037
TOTAL WARRANTS (Cost $3,754) $ 152,037

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Mid Cap Stock Trust (continued)

Shares or
Principal
Amount Value
SECURITIES LENDING COLLATERAL - 8.7%
John Hancock
       Collateral Trust, 0.1102% (W)(Y) 7,349,892       73,535,673
TOTAL SECURITIES LENDING
COLLATERAL (Cost $73,537,432) $ 73,535,673
Total Investments (Mid Cap Stock Trust)
       (Cost $800,531,974) - 108.7% $ 925,204,600
Other assets and liabilities, net - (8.7%) (74,032,743 )
TOTAL NET ASSETS - 100.0% $ 851,171,857

Mid Value Trust

Shares or
Principal
Amount   Value
COMMON STOCKS - 92.8%
Consumer discretionary - 10.5%
Auto components - 0.2%
Visteon Corp. (I) 17,800       $ 1,715,919
Diversified consumer services - 1.1%  
Graham Holdings Company, Class B 2,200 2,309,186
Houghton Mifflin Harcourt Company (I) 73,300 1,721,084
Strayer Education, Inc. (I) 107,605 5,747,183
9,777,453
Leisure products - 1.1%
Mattel, Inc. 355,200 8,116,320
Sankyo Company, Ltd. 52,100 1,850,413
9,966,733
Media - 4.4%
Cablevision Systems Corp., Class A (L) 607,100 11,109,930
DreamWorks Animation
       SKG, Inc., Class A (I)(L) 74,400 1,800,480
News Corp., Class A (I) 639,400 10,236,794
Scholastic Corp. 132,524 5,425,533
Tribune Media Company, Class A 179,700 10,927,557
39,500,294
Multiline retail - 1.9%
Kohl’s Corp. 224,200 17,543,650
Specialty retail - 0.8%
Abercrombie & Fitch Company, Class A 130,000 2,865,200
American Eagle Outfitters, Inc. 73,200 1,250,256
CarMax, Inc. (I) 6,300 434,763
The Gap, Inc. 63,000 2,729,790
7,280,009
Textiles, apparel and luxury goods - 1.0%
Coach, Inc. 213,500 8,845,305
94,629,363
Consumer staples - 8.2%
Beverages - 0.4%
Carlsberg A/S, Class B 42,799 3,529,047
Food and staples retailing - 2.1%
Sysco Corp. 418,700 15,797,551
The Kroger Company 38,500 2,951,410
18,748,961
Food products - 4.6%
Archer-Daniels-Midland Company 86,500 4,100,100
Bunge, Ltd. 227,200 18,712,192
Dean Foods Company 74,400 1,229,832
Flowers Foods, Inc. 139,700 3,176,778
Kellogg Company 106,200 7,003,890
McCormick & Company, Inc. 66,800 5,150,948
Tootsie Roll Industries, Inc. (L) 59,348 2,013,099
41,386,839
Household products - 0.4%
The Clorox Company 33,700 3,720,143
Personal products - 0.7%
Avon Products, Inc. 732,800 5,855,072
73,240,062
Energy - 6.6%
Energy equipment and services - 0.7%
Exterran Holdings, Inc. 120,722 4,052,638
SEACOR Holdings, Inc. (I) 35,100 2,445,417
6,498,055
Oil, gas and consumable fuels - 5.9%
Cameco Corp. (L) 484,700 6,751,871
Canadian Oil Sands, Ltd. 361,100 2,808,286
CONSOL Energy, Inc. 301,047 8,396,201
Hess Corp. 36,600 2,484,042
Murphy Oil Corp. 174,300 8,122,380
Talisman Energy, Inc. 1,589,800 12,188,195
WPX Energy, Inc. (I) 1,061,600 11,603,288
52,354,263
58,852,318
Financials - 28.0%
Banks - 4.6%
CIT Group, Inc. 161,900 7,304,928
Commerce Bancshares, Inc. 94,110 3,982,735
First Horizon National Corp. 863,249 12,335,828
First Niagara Financial Group, Inc. 945,900 8,361,756
SunTrust Banks, Inc. 104,900 4,310,341
WestAmerica Bancorp. (L) 110,100 4,757,421
41,053,009
Capital markets - 7.4%
E*TRADE Financial Corp. (I) 782,444 22,342,688
Lazard, Ltd., Class A 265,400 13,957,386
Legg Mason, Inc. 49,300 2,721,360
Northern Trust Corp. 290,800 20,254,220
Waddell & Reed Financial, Inc., Class A 137,100 6,791,934
66,067,588
Consumer finance - 1.2%
Ally Financial, Inc. (I) 526,160 11,038,837
Diversified financial services - 1.0%
Groupe Bruxelles Lambert SA 11,167 925,847
PHH Corp. (I) 335,200 8,101,784
9,027,631
Insurance - 9.9%
CNA Financial Corp. 249,900 10,353,357
Enstar Group, Ltd. (I) 8,338 1,182,829
First American Financial Corp. 341,500 12,184,720
FNF Group 238,316 8,760,496
Kemper Corp. 187,954 7,322,688
Loews Corp. 191,200 7,806,696
Marsh & McLennan Companies, Inc. 293,200 16,445,588

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Mid Value Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Insurance (continued)
OneBeacon Insurance Group, Ltd., Class A 104,035       $ 1,582,372
The Progressive Corp. 240,600 6,544,320
White Mountains Insurance Group, Ltd. 19,300 13,211,236
Willis Group Holdings PLC 65,100 3,136,518
88,530,820
Real estate investment trusts - 2.8%
AvalonBay Communities, Inc. 19,900 3,467,575
Rayonier, Inc. 382,300 10,306,808
Washington Real Estate Investment Trust 168,800 4,663,944
Weingarten Realty Investors 9,400 338,212
Weyerhaeuser Company 186,136 6,170,408
24,946,947
Real estate management and development - 0.5%
The St. Joe Company (I) 251,917 4,675,580
Thrifts and mortgage finance - 0.6%
Capitol Federal Financial, Inc. 469,598 5,869,975
251,210,387
Health care - 11.6%
Biotechnology - 0.3%
Seattle Genetics, Inc. (I)(L) 77,700 2,746,695
Health care equipment and supplies - 2.3%
Haemonetics Corp. (I) 74,800 3,360,016
Hologic, Inc. (I) 506,900 16,740,373
Thoratec Corp. (I) 13,300 557,137
20,657,526
Health care providers and services - 4.4%
HealthSouth Corp. 145,870 6,470,793
Humana, Inc. 38,900 6,924,978
Quest Diagnostics, Inc. 155,300 11,934,805
Select Medical Holdings Corp. 604,088 8,958,625
Tenet Healthcare Corp. (I) 110,900 5,490,659
39,779,860
Pharmaceuticals - 4.6%
Hospira, Inc. (I) 332,300 29,189,232
Zoetis, Inc. 256,400 11,868,756
41,057,988
104,242,069
Industrials - 10.1%
Aerospace and defense - 3.1%
Bombardier, Inc., Class B 1,774,569 3,502,761
Textron, Inc. 553,900 24,554,387
28,057,148
Air freight and logistics - 2.4%
C.H. Robinson Worldwide, Inc. 191,700 14,036,274
Expeditors International of Washington, Inc. 163,600 7,882,248
21,918,522
Airlines - 0.5%
Southwest Airlines Company 95,800 4,243,940
Commercial services and supplies - 1.4%
Cintas Corp. 152,700 12,464,901
Construction and engineering - 0.9%
KBR, Inc. 523,100 7,574,488
Machinery - 0.9%
Harsco Corp. 143,200 2,471,632
Ingersoll-Rand PLC 19,800 1,347,984
Xylem, Inc. 115,400 4,041,308
7,860,924
Professional services - 0.9%
ManpowerGroup, Inc. 95,600 8,235,940
90,355,863
Information technology - 3.8%
Communications equipment - 0.5%
ADTRAN, Inc. 202,200 3,775,074
Motorola Solutions, Inc. 6,800 453,356
4,228,430
Electronic equipment, instruments and components - 0.4%
AVX Corp. 242,700 3,463,329
IT services - 0.2%
The Western Union Company 101,200 2,105,972
Semiconductors and semiconductor equipment - 2.7%
Applied Materials, Inc. 460,900 10,397,904
ASML Holding NV 21,823 2,204,778
Broadcom Corp., Class A 104,900 4,541,646
Marvell Technology Group, Ltd. 462,200 6,794,340
23,938,668
33,736,399
Materials - 7.8%
Chemicals - 1.0%
The Scotts Miracle-Gro Company, Class A 134,600 9,041,082
Construction materials - 1.8%
Vulcan Materials Company 193,607 16,321,070
Containers and packaging - 1.8%
MeadWestvaco Corp. 183,700 9,161,119
Packaging Corp. of America 87,000 6,802,530
15,963,649
Metals and mining - 2.4%
Compania de Minas Buenaventura SA, ADR 230,300 2,332,939
Franco-Nevada Corp. 105,800 5,127,318
Lonmin PLC (I)(L) 1,182,369 2,056,143
Newmont Mining Corp. 381,800 8,288,878
Silver Wheaton Corp. (L) 181,500 3,452,130
21,257,408
Paper and forest products - 0.8%
Louisiana-Pacific Corp. (I) 465,600 7,687,056
70,270,265
Telecommunication services - 0.7%
Wireless telecommunication services - 0.7%
Telephone & Data Systems, Inc. 263,536 6,562,046
Utilities - 5.5%
Electric utilities - 3.2%
American Electric Power Company, Inc. 86,300 4,854,375
Duke Energy Corp. 14,602 1,121,142
FirstEnergy Corp. 636,751 22,324,490
28,300,007
Independent power and renewable electricity producers - 1.7%
AES Corp. 804,000 10,331,400
Calpine Corp. (I) 33,500 766,145
NRG Energy, Inc. 173,105 4,360,515
15,458,060

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Mid Value Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)  
Multi-utilities - 0.6%
CenterPoint Energy, Inc.   285,800       $ 5,833,178  
49,591,245
TOTAL COMMON STOCKS (Cost $672,855,579) $ 832,690,017
 
CONVERTIBLE BONDS - 0.4%
Industrials - 0.4%
UTi Worldwide, Inc. 4.500%, 03/01/2019 $ 2,928,000 $ 3,283,020
TOTAL CONVERTIBLE BONDS (Cost $2,941,543) $ 3,283,020
 
SECURITIES LENDING COLLATERAL - 2.5%
John Hancock
       Collateral Trust, 0.1102% (W)(Y) 2,270,447 $ 22,715,820
TOTAL SECURITIES LENDING
COLLATERAL (Cost $22,716,030) $ 22,715,820
 
SHORT-TERM INVESTMENTS - 7.0%
Money market funds - 7.0%
State Street Institutional U.S. Government
       Money Market Fund, 0.0000% (Y) 1,000,000 1,000,000
T. Rowe Price Reserve Investment
       Fund, 0.0384% (Y) 62,279,419 62,279,419
TOTAL SHORT-TERM INVESTMENTS (Cost $63,279,419) $ 63,279,419
Total Investments (Mid Value Trust)
       (Cost $761,792,571) - 102.7% $ 921,968,276
Other assets and liabilities, net - (2.7%) (24,359,381 )
TOTAL NET ASSETS - 100.0% $ 897,608,895

Money Market Trust

Shares or
Principal
Amount Value
COMMERCIAL PAPER - 57.4%
Australia & New Zealand Banking Group, Ltd.      
       0.160%, 04/30/2015 * $ 30,000,000   $ 29,996,133
Bank of Nova Scotia 0.135%, 04/01/2015 * 16,950,000 16,950,000
Bank of Tokyo-Mitsubishi UFJ, Ltd.
       0.200%, 04/06/2015 * 38,000,000 37,998,944
       0.210%, 04/10/2015 * 45,000,000 44,997,638
       0.220%, 04/16/2015 * 20,040,000 20,038,163
Barclays US Funding LLC 0.250%,
       05/11/2015 * 50,000,000 49,986,111
BMW US Capital LLC 0.110%, 04/27/2015 * 65,000,000 64,994,836
BNP Paribas Finance, Inc.
       0.230%, 05/12/2015 * 45,000,000 44,988,213
       0.230%, 06/01/2015 * 55,000,000 54,978,565
Caisse Centrale Desjardins
       0.130%, 04/09/2015 * 60,000,000 59,998,267
       0.150%, 04/14/2015 * 15,000,000 14,999,188
       0.180%, 06/09/2015 * 25,000,000 24,991,375
Cargill, Inc.
       0.070%, 04/01/2015* 19,910,000 19,910,000
       0.070%, 04/02/2015 * 77,840,000 77,839,849
Caterpillar Financial Services Corp. 0.120%,
       06/01/2015 * 13,870,000 13,867,180
Chevron Corp. 0.070%, 04/09/2015 * 13,300,000 13,299,793
Electricite de France SA
       0.160%, 04/02/2015 * 15,000,000 14,999,933
       0.170%, 04/02/2015 * 40,000,000 39,999,811
       0.170%, 05/22/2015 * 27,165,000 27,158,458
Illinois Tool Works, Inc.
       0.090%, 04/09/2015 * 14,200,000 14,199,716
       0.090%, 04/13/2015 * 1,800,000 1,799,946
       0.090%, 04/15/2015 * 7,800,000 7,799,727
       0.110%, 04/01/2015* 50,000,000 50,000,000
MetLife Short Term Funding LLC
       0.120%, 05/04/2015 * 16,420,000 16,418,194
       0.120%, 05/07/2015 * 6,000,000 5,999,280
       0.140%, 05/26/2015 * 10,000,000 9,997,861
       0.150%, 04/28/2015 * 20,000,000 19,997,750
       0.150%, 05/26/2015 * 15,890,000 15,886,359
       0.180%, 04/01/2015 * 30,000,000 30,000,000
National Rural Utilities
       Cooperative Finance Corp.
       0.110%, 04/27/2015 * 19,230,000 19,228,472
       0.120%, 04/15/2015 * 22,000,000 21,998,973
PepsiCo, Inc. 0.070%, 04/28/2015 * 5,115,000 5,114,731
Philip Morris International, Inc.
       0.080%, 04/22/2015 * 50,000,000 49,997,667
       0.110%, 04/20/2015 * 20,000,000 19,998,839
Telstra Corp., Ltd.
       0.170%, 06/09/2015 * 18,000,000 17,994,135
       0.170%, 06/10/2015 * 11,000,000 10,996,364
Toronto-Dominion Holdings USA, Inc.
       0.180%, 04/07/2015 * 94,620,000 94,617,159
Toyota Motor Credit Corp.
       0.140%, 05/15/2015 * 50,000,000 49,991,444
       0.170%, 04/17/2015 * 22,850,000 22,848,274
TOTAL COMMERCIAL PAPER (Cost $1,156,877,348) $ 1,156,877,348
 
CORPORATE INTEREST-BEARING OBLIGATIONS - 6.9%
Wells Fargo & Company
       0.456%, 10/28/2015 (P)* 35,000,000 35,024,500
       1.500%, 07/01/2015 * 28,000,000 28,081,307
Westpac Banking Corp.
       0.243%, 05/22/2015 (P)(S)* 75,000,000 75,000,000
TOTAL CORPORATE INTEREST-BEARING
OBLIGATIONS (Cost $138,105,807) $ 138,105,807
 
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS - 23.6%
U.S. Government - 12.0%
U.S. Treasury Bill
       0.063%, 08/20/2015 * 60,000,000 59,985,313
       0.065%, 08/20/2015 to 08/27/2015 * 97,000,000 96,974,926
U.S. Treasury Note
       2.500%, 04/30/2015 * 50,000,000 50,093,197
       4.500%, 11/15/2015 * 33,750,000 34,668,136
U.S. Government Agency - 11.6%
Federal Home Loan Bank
       0.050%, 04/15/2015 to 05/01/2015 * 37,400,000 37,398,840
       0.055%, 04/15/2015 to 05/04/2015 * 100,040,000 100,035,704
       0.057%, 05/01/2015 * 13,200,000 13,199,373
       0.060%, 04/01/2015 to 04/10/2015 * 83,799,000 83,798,322
TOTAL U.S. GOVERNMENT AND AGENCY
OBLIGATIONS (Cost $476,153,811) $ 476,153,811
 
CERTIFICATE OF DEPOSIT - 12.4%
Bank of Montreal
       0.180%, 04/01/2015* 50,000,000 50,000,000

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Money Market Trust (continued)

Shares or
Principal
Amount Value
CERTIFICATE OF DEPOSIT (continued)
Bank of Montreal (continued)
       0.257%, 06/18/2015 (P)* $ 50,000,000       $ 50,000,000  
Credit Suisse New York 0.220%, 05/18/2015 * 50,000,000 50,000,000
Sumitomo Mitsui Banking Corp.
       0.240%, 06/01/2015 * 40,000,000 40,000,000
       0.240%, 06/08/2015 * 60,000,000 60,000,000
TOTAL CERTIFICATE OF DEPOSIT (Cost $250,000,000) $ 250,000,000
Total Investments (Money Market Trust)
       (Cost $2,021,136,966) - 100.3% $ 2,021,136,966
Other assets and liabilities, net - (0.3%) (5,361,819 )
TOTAL NET ASSETS - 100.0% $ 2,015,775,147

Money Market Trust B

Shares or
Principal
Amount Value
COMMERCIAL PAPER - 50.8%
Bank of Nova Scotia 0.135%, 04/01/2015 * $ 1,960,000       $ 1,960,000
Bank of Tokyo-Mitsubishi UFJ, Ltd.
       0.200%, 04/01/2015 * 10,000,000 10,000,000
       0.210%, 04/08/2015 * 8,000,000 7,999,673
Barclays US Funding LLC 0.250%,
       05/11/2015 * 10,000,000 9,997,222
BMW US Capital LLC
       0.100%, 04/27/2015 * 5,000,000 4,999,639
       0.110%, 04/24/2015 * 10,000,000 9,999,297
       0.110%, 04/27/2015 * 5,000,000 4,999,603
BNP Paribas Finance, Inc. 0.230%,
       06/01/2015 * 19,000,000 18,992,595
Caisse Centrale Desjardins
       0.130%, 04/09/2015 * 10,000,000 9,999,711
       0.135%, 04/06/2015 * 7,480,000 7,479,860
Cargill, Inc. 0.070%, 04/01/2015 * 12,090,000 12,090,000
Caterpillar Financial Services Corp. 0.120%,
       06/01/2015 * 10,000,000 9,997,967
Electricite de France SA
       0.160%, 04/07/2015 * 3,740,000 3,739,900
       0.170%, 04/02/2015 * 7,000,000 6,999,967
       0.180%, 05/06/2015 * 7,000,000 6,998,775
MetLife Short Term Funding LLC
       0.120%, 05/01/2015 * 6,000,000 5,999,400
       0.130%, 05/18/2015 * 10,000,000 9,998,303
       0.150%, 04/28/2015 * 3,500,000 3,499,606
National Rural Utilities Cooperative
       Finance Corp. 0.110%, 04/27/2015 * 5,770,000 5,769,542
PepsiCo, Inc.
       0.090%, 04/07/2015 * 5,530,000 5,529,917
       0.100%, 05/21/2015 * 2,370,000 2,369,671
Philip Morris International, Inc. 0.120%,
       05/18/2015 * 7,475,000 7,473,829
Telstra Corp., Ltd. 0.170%, 06/10/2015 * 5,000,000 4,998,347
Toronto-Dominion Holdings USA, Inc.
       0.180%, 04/07/2015 * 18,000,000 17,999,460
Toyota Motor Credit Corp. 0.140%,
       05/06/2015 * 15,770,000 15,767,854
TOTAL COMMERCIAL PAPER (Cost $205,660,138) $ 205,660,138
 
CORPORATE INTEREST-BEARING OBLIGATIONS - 5.6%
Wells Fargo & Company
       0.456%, 10/28/2015 (P)* 7,000,000 7,004,900
       1.500%, 07/01/2015 * 5,620,000 5,636,319
Westpac Banking Corp.
       0.243%, 05/22/2015 (P)(S)* 10,000,000 10,000,000
TOTAL CORPORATE INTEREST-BEARING
OBLIGATIONS (Cost $22,641,219) $ 22,641,219
 
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS - 31.5%
U.S. Government - 11.3%
U.S. Treasury Bill
       0.063%, 08/20/2015 * 10,000,000 9,997,552
       0.065%, 08/20/2015 to 08/27/2015 * 19,000,000 18,995,087
U.S. Treasury Note
       2.500%, 04/30/2015 * 10,000,000 10,018,639
       4.500%, 11/15/2015 * 6,250,000 6,420,025
U.S. Government Agency - 20.2%
Federal Home Loan Bank
       0.055%, 04/15/2015 to 05/01/2015 * 17,340,000 17,339,298
       0.056%, 05/08/2015 * 12,845,000 12,844,261
       0.057%, 05/08/2015 * 18,100,000 18,098,940
       0.060%, 04/01/2015 to 05/06/2015 * 23,520,000 23,519,672
       0.065%, 04/15/2015 * 10,000,000 9,999,747
TOTAL U.S. GOVERNMENT AND AGENCY
OBLIGATIONS (Cost $127,233,221) $ 127,233,221
 
CERTIFICATE OF DEPOSIT - 11.6%
Bank of Montreal
       0.180%, 04/01/2015* 8,000,000 8,000,000
       0.257%, 06/18/2015 (P)* 10,000,000 10,000,000
Credit Suisse New York 0.220%, 05/18/2015 * 10,000,000 10,000,000
Sumitomo Mitsui Banking Corp.
       0.240%, 06/08/2015 * 11,000,000 11,000,000
       0.260%, 05/07/2015 * 8,000,000 8,000,159
TOTAL CERTIFICATE OF DEPOSIT (Cost $47,000,159) $ 47,000,159
Total Investments (Money Market Trust B)
       (Cost $402,534,737) - 99.5% $ 402,534,737
Other assets and liabilities, net - 0.5% 1,963,331
TOTAL NET ASSETS - 100.0% $ 404,498,068

Mutual Shares Trust

Shares or
Principal
Amount Value
COMMON STOCKS - 83.0%
Consumer discretionary - 9.0%
Automobiles - 1.7%  
Fiat SpA (I) 242,845       $ 1,990,185
General Motors Company 229,500 8,606,250
  10,596,435
Diversified consumer services - 0.2%
Cengage Learning Holdings II LP (I) 38,500 866,240
Media - 7.1%
CBS Corp., Class B 125,807 7,627,678
Comcast Corp., Special Class A 31,907 1,788,866
Reed Elsevier PLC 464,607 7,990,273

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Mutual Shares Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Media (continued)
Time Warner Cable, Inc. 65,800       $ 9,862,104
Time Warner, Inc. 53,608 4,526,660
Tribune Media Company, Class B 20,315 1,185,990
Tribune Publishing Company 13,360 259,184
Twenty-First Century Fox, Inc., Class B 311,586 10,244,948
43,485,703
54,948,378
Consumer staples - 10.4%
Beverages - 1.1%
PepsiCo, Inc. 70,596 6,750,390
Food and staples retailing - 3.1%
CVS Health Corp. 56,213 5,801,744
The Kroger Company 77,234 5,920,758
Walgreens Boots Alliance, Inc. 85,324 7,225,236
18,947,738
Household products - 0.5%
Energizer Holdings, Inc. 24,113 3,328,800
Personal products - 0.3%
Avon Products, Inc. 198,869 1,588,963
Tobacco - 5.4%
Altria Group, Inc. 119,721 5,988,444
British American Tobacco PLC 178,236 9,229,775
Imperial Tobacco Group PLC 138,630 6,081,178
Lorillard, Inc. 137,155 8,963,079
Philip Morris International, Inc. 34,264 2,581,107
32,843,583
63,459,474
Energy - 7.9%
Energy equipment and services - 1.3%
Baker Hughes, Inc. 106,327 6,760,271
Transocean, Ltd. (L) 95,136 1,395,645
8,155,916
Oil, gas and consumable fuels - 6.6%
Anadarko Petroleum Corp. 35,560 2,944,724
Apache Corp. 104,130 6,282,163
BG Group PLC 225,991 2,773,754
BP PLC 602,823 3,907,595
CONSOL Energy, Inc. 93,718 2,613,795
Marathon Oil Corp. 219,172 5,722,581
Murphy Oil Corp. 60,600 2,823,960
Royal Dutch Shell PLC, A Shares 267,914 7,994,196
Talisman Energy, Inc. 360,620 2,769,200
Whiting Petroleum Corp. (I) 81,685 2,524,067
40,356,035
48,511,951
Financials - 21.0%
Banks - 9.9%
Barclays PLC 1,453,800 5,247,527
CIT Group, Inc. 109,405 4,936,354
Citigroup, Inc. 122,965 6,335,157
Citizens Financial Group, Inc. 205,003 4,946,722
Columbia Banking System, Inc. 21,477 622,189
FCB Financial Holdings, Inc., Class A (I) 60,504 1,655,994
Guaranty Bancorp 4,385 74,370
ING Groep NV (I) 266,278 3,900,434
JPMorgan Chase & Co. 129,810 7,863,890
KB Financial Group, Inc. 90,186 3,183,458
Societe Generale SA 28,275 1,365,174
SunTrust Banks, Inc. 108,510 4,458,676
The PNC Financial Services Group, Inc. 127,954 11,930,431
Wells Fargo & Company 76,120 4,140,928
60,661,304
Consumer finance - 0.4%
Ally Financial, Inc. (I) 122,150 2,562,707
Insurance - 9.6%
ACE, Ltd. 72,962 8,134,533
Alleghany Corp. (I) 13,844 6,742,028
American International Group, Inc. 189,535 10,384,623
MetLife, Inc. 137,160 6,933,438
The Allstate Corp. 82,856 5,896,862
White Mountains Insurance Group, Ltd. 20,381 13,951,202
XL Group PLC 169,077 6,222,034
58,264,720
Real estate investment trusts - 1.0%
Alexander’s, Inc. 12,593 5,749,712
Real estate management and development - 0.1%
Forestar Group, Inc. (I) 39,987 630,595
127,869,038
Health care - 13.0%
Health care equipment and supplies - 3.8%
Medtronic PLC 205,319 16,012,829
Stryker Corp. 75,105 6,928,436
22,941,265
Health care providers and services - 1.1%
Cigna Corp. 53,651 6,944,585
Pharmaceuticals - 8.1%
Eli Lilly & Company 147,876 10,743,191
Hospira, Inc. (I) 94,766 8,324,245
Merck & Company, Inc. 277,230 15,935,180
Teva Pharmaceutical Industries, Ltd., ADR 227,378 14,165,649
49,168,265
79,054,115
Industrials - 4.4%
Aerospace and defense - 1.7%
B/E Aerospace, Inc. 52,990 3,371,224
Huntington Ingalls Industries, Inc. 42,541 5,962,121
KLX, Inc. (I) 26,495 1,021,117
10,354,462
Machinery - 1.4%
Caterpillar, Inc. 71,362 5,711,101
CNH Industrial NV 107,017 877,035
Federal Signal Corp. 140,014 2,210,821
8,798,957
Marine - 1.3%
A.P. Moeller - Maersk A/S, Series B (L) 3,645 7,618,876
26,772,295
Information technology - 11.2%
Communications equipment - 1.4%
Cisco Systems, Inc. 302,960 8,338,974
IT services - 1.2%
Xerox Corp. 600,354 7,714,549

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Mutual Shares Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Software - 4.9%
CA, Inc.   163,949       $ 5,346,377
Microsoft Corp. 390,176 15,862,605
Symantec Corp. 376,450 8,795,754
30,004,736
Technology hardware, storage and peripherals - 3.7%
Apple, Inc. 102,470 12,750,342
Hewlett-Packard Company 169,443 5,279,844
Samsung Electronics Company, Ltd. 3,366 4,364,871
22,395,057
68,453,316
Materials - 3.6%
Containers and packaging - 1.0%
MeadWestvaco Corp. 125,743 6,270,803
Metals and mining - 1.4%
Freeport-McMoRan, Inc. 224,236 4,249,272
ThyssenKrupp AG 168,401 4,408,773
8,658,045
Paper and forest products - 1.2%
International Paper Company 132,184 7,334,890
22,263,738
Telecommunication services - 1.8%
Diversified telecommunication services - 0.7%
Koninklijke KPN NV 1,151,710 3,903,894
Wireless telecommunication services - 1.1%
Vodafone Group PLC 2,123,006 6,947,160
10,851,054
Utilities - 0.7%
Independent power and renewable electricity producers - 0.7%
NRG Energy, Inc. 169,794 4,277,111
TOTAL COMMON STOCKS (Cost $384,162,731) $ 506,460,470
 
CORPORATE BONDS - 2.8%
Consumer discretionary - 0.7%
iHeartCommunications, Inc.
       9.000%, 12/15/2019 $ 3,977,000 $ 3,947,173
Tropicana Entertainment LLC
       9.625%, 12/15/2014 (H) 1,180,000 0
3,947,173
Energy - 0.6%
NGPL PipeCo LLC
       7.119%, 12/15/2017 (S) 1,287,000 1,274,130
       9.625%, 06/01/2019 (S) 1,911,000 1,895,473
Samson Investment Company
       9.750%, 02/15/2020 2,048,000 552,960
3,722,563
Information technology - 1.0%
Avaya, Inc.
       7.000%, 04/01/2019 (S) 1,707,000 1,694,198
       10.500%, 03/01/2021 (S) 5,070,000 4,322,175
6,016,373
Materials - 0.1%
Walter Energy, Inc.
       9.500%, 10/15/2019 (S) 792,000 475,200
Walter Energy, Inc., PIK
       11.000%, 04/01/2020 (S) 660,000 59,400
534,600
Utilities - 0.4%
Texas Competitive Electric Holdings
       Company LLC
       11.500%, 10/01/2020 (H)(S) 4,128,000 2,580,000
TOTAL CORPORATE BONDS (Cost $19,153,867) $ 16,800,709
 
TERM LOANS (M) - 3.8%
Consumer discretionary - 2.5%
Caesars Entertainment
       Operating Company, Inc.
       03/01/2017 (H) 426,320 388,164
       03/01/2017 (H) 2,033,290 1,856,648
       01/28/2018 (H) 1,258,675 1,143,821
Cengage Learning Acquisitions, Inc.
       7.000%, 03/31/2020 242,550 243,278
iHeartCommunications, Inc.
       6.928%, 01/30/2019 4,025,467 3,823,187
       7.678%, 07/30/2019 1,293,886 1,246,336
JC Penney Corp., Inc.
       6.000%, 05/22/2018 3,439,215 3,423,739
Toys R Us - Delaware, Inc.
       8.250%, 10/24/2019 177,696 175,031
       9.750%, 04/24/2020 2,697,547 2,500,626
Toys R Us Canada, Ltd.
       8.250%, 10/24/2019 143,304 141,154
14,941,984
Energy - 0.0%
NGPL PipeCo LLC
       6.750%, 09/15/2017 104,739 99,816
Information technology - 0.5%
Avaya, Inc.
       4.676%, 10/26/2017 2,536,965 2,496,057
       6.500%, 03/30/2018 619,328 617,350
3,113,407
Materials - 0.1%
Walter Energy, Inc.
       7.250%, 04/02/2018 1,412,439 852,507
Utilities - 0.7%
Texas Competitive Electric Holdings
       Company LLC 10/10/2017 (H) 7,466,240 4,462,415
TOTAL TERM LOANS (Cost $26,108,826) $ 23,470,129
 
MUNICIPAL BONDS - 0.3%
Commonwealth of Puerto Rico, Series A
       8.000%, 07/01/2035 $ 2,046,000 $ 1,680,339
TOTAL MUNICIPAL BONDS (Cost $1,911,097) $ 1,680,339
 
PREFERRED SECURITIES - 0.7%
Consumer discretionary - 0.7%
Volkswagen AG 16,912 4,485,103
TOTAL PREFERRED SECURITIES (Cost $4,401,941) $ 4,485,103

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Mutual Shares Trust (continued)

Shares or
Principal
Amount Value
SECURITIES LENDING COLLATERAL - 1.6%      
John Hancock
       Collateral Trust, 0.1102% (W)(Y) 950,545   $ 9,510,203
TOTAL SECURITIES LENDING
COLLATERAL (Cost $9,510,234) $ 9,510,203
 
SHORT-TERM INVESTMENTS - 4.5%
U.S. Government - 4.5%
U.S. Treasury Bills
       0.036%, 04/16/2015 * $ 3,000,000 $ 2,999,961
       0.041%, 04/09/2015 * 2,500,000 2,499,988
       0.057%, 04/30/2015 * 3,000,000 2,999,904
       0.060%, 05/14/2015 * 2,000,000 1,999,934
       0.063%, 08/06/2015 * 1,000,000 999,788
       0.064%, 08/20/2015 * 3,500,000 3,499,108
       0.065%, 08/27/2015 * 5,000,000 4,998,405
       0.075%, 07/23/2015 * 2,000,000 1,999,734
       0.076%, 09/03/2015 * 2,000,000 1,999,290
       0.088%, 07/09/2015 * 2,500,000 2,499,898
       0.105%, 07/02/2015 * 1,000,000 999,911
27,495,921
TOTAL SHORT-TERM INVESTMENTS (Cost $27,495,224) $ 27,495,921
Total Investments (Mutual Shares Trust)
       (Cost $472,743,920) - 96.7% $ 589,902,874
Other assets and liabilities, net - 3.3% 20,435,983
TOTAL NET ASSETS - 100.0% $ 610,338,857

New Income Trust

Shares or
Principal
Amount Value
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS - 48.4%
U.S. Government - 20.6%
Treasury Inflation Protected Securities  
       0.125%, 07/15/2024 $ 2,333,028       $ 2,333,756
       0.250%, 01/15/2025 6,434,327 6,483,580
       0.625%, 01/15/2024 32,417,277 33,787,426
       1.875%, 07/15/2015 6,338,968 6,439,003
U.S. Treasury, Bond 3.000%, 11/15/2044 16,860,000 18,476,183
U.S. Treasury Bonds
       3.125%, 02/15/2043 50,610,000 56,501,308
       3.375%, 05/15/2044 9,275,000 10,872,767
       5.375%, 02/15/2031 15,830,000 22,472,410
U.S. Treasury Notes
       0.375%, 08/31/2015 8,800,000 8,808,941
       0.625%, 11/30/2017 28,580,000 28,457,192
       0.875%, 02/28/2017 52,655,000 52,979,987
       1.250%, 10/31/2018 24,540,000 24,668,442
       1.500%, 05/31/2019 48,225,000 48,737,391
       2.000%, 08/31/2021 20,420,000 20,849,147
       2.625%, 04/30/2016 6,640,000 6,804,446
U.S. Treasury Strips, PO
       2.285%, 05/15/2021 220,000 198,259
348,870,238
U.S. Government Agency - 27.8%
Federal Home Loan Mortgage Corp.
       2.091%, 09/01/2035 (P) 20,583 21,765
       2.125%, 07/01/2038 (P) 27,448 29,133
       2.137%, 06/01/2038 (P) 38,118 40,467
       2.181%, 06/01/2037 (P) 209,398 222,425
       2.202%, 04/01/2037 (P) 92,616 99,041
       2.225%, 07/01/2035 (P) 17,181 18,272
       2.226%, 07/01/2035 (P) 27,843 29,737
       2.237%, 10/01/2036 (P) 126,852 135,673
       2.245%, 01/01/2036 (P) 1,020 1,091
       2.283%, 03/01/2036 (P) 56,940 60,641
       2.285%, 09/01/2032 (P) 1,057 1,130
       2.335%, 05/01/2037 (P) 24,453 26,116
       2.359%, 01/01/2037 (P) 30,979 33,092
       2.362%, 02/01/2035 (P) 54,794 58,283
       2.370%, 01/01/2036 (P) 72,772 77,832
       2.401%, 02/01/2037 (P) 88,552 94,695
       2.478%, 11/01/2035 (P) 16,640 17,794
       2.500%, 05/01/2028 3,918,934 4,035,496
       2.583%, 02/01/2037 (P) 91,709 98,071
       2.701%, 02/01/2038 (P) 76,876 82,210
       2.733%, 02/01/2037 (P) 31,073 33,229
       3.000%, 01/01/2043 to 06/01/2043 18,370,031 18,795,652
       3.500%, 03/01/2043 7,332,544 7,692,622
       4.000%, 05/01/2026 to 02/01/2041 13,575,440 14,552,646
       4.500%, 11/01/2018 to 10/01/2039 10,438,606 11,375,970
       5.000%, 10/01/2018 to 08/01/2040 4,190,709 4,667,748
       5.500%, 03/01/2018 to 12/01/2039 343,657 379,385
       5.827%, 12/01/2036 (P) 23,643 25,420
       5.932%, 10/01/2036 (P) 45,698 48,875
       6.000%, 04/01/2017 to 08/01/2038 823,590 938,370
       6.043%, 11/01/2036 (P) 17,966 19,316
       6.106%, 10/01/2036 (P) 40,082 42,863
       6.421%, 08/01/2036 (P) 12,923 13,819
       6.500%, 05/01/2017 to 03/01/2037 227,262 263,989
       7.000%, 02/01/2024 to 06/01/2032 6,013 7,062
       7.500%, 05/01/2024 to 06/01/2024 752 869
Federal National Mortgage Association
       1.737%, 10/01/2033 (P) 27,602 28,592
       1.862%, 12/01/2035 (P) 6,680 7,050
       1.950%, 06/01/2037 (P) 39,191 41,075
       2.037%, 07/01/2035 (P) 23,056 24,342
       2.087%, 07/01/2027 (P) 329 337
       2.125%, 09/01/2037 (P) 20,636 22,067
       2.131%, 12/01/2035 (P) 6,350 6,715
       2.138%, 09/01/2035 (P) 91,219 97,547
       2.139%, 07/01/2036 (P) 174,876 185,529
       2.159%, 08/01/2037 (P) 40,791 43,621
       2.193%, 05/01/2038 (P) 145,431 155,520
       2.203%, 11/01/2035 (P) 57,964 61,985
       2.204%, 08/01/2036 (P) 79,871 84,987
       2.337%, 04/01/2038 (P) 33,877 36,227
       2.339%, 05/01/2038 (P) 80,445 86,019
       2.343%, 05/01/2038 (P) 31,766 33,970
       2.352%, 08/01/2038 (P) 16,991 18,170
       2.395%, 12/01/2035 (P) 2,583 2,755
       2.412%, 01/01/2037 (P) 44,554 47,645
       2.461%, 12/01/2035 (P) 11,671 12,479
       2.500%, 10/01/2027 to 01/01/2043 24,583,371 25,127,198
       2.651%, 12/01/2036 (P) 80,793 86,398
       3.000%, TBA (C) 10,200,000 10,429,384
       3.000%, 01/01/2027 to 10/01/2043 43,390,722 44,757,201
       3.500%, 10/01/2042 to 11/01/2044 15,554,802 16,369,386
       4.000%, TBA (C) 2,770,000 2,961,783
       4.000%, 11/01/2025 to 01/01/2042 33,653,378 36,079,061

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (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)
       4.375%, 10/15/2015 $ 825,000       $ 843,489
       4.500%, 05/01/2019 to 09/01/2042 35,441,835 38,685,488
       5.000%, TBA (C) 2,875,000 3,197,090
       5.000%, 05/01/2018 to 07/01/2041 25,963,594 29,005,863
       5.500%, 11/01/2015 to 09/01/2041 17,046,084 19,314,854
       5.674%, 01/01/2019 (P) 153 160
       6.000%, 09/01/2017 to 10/01/2038 13,356,650 15,315,900
       6.059%, 09/01/2036 (P) 5,008 5,355
       6.500%, 11/01/2015 to 06/01/2039 3,592,196 4,138,219
       7.000%, 12/01/2029 to 04/01/2037 15,897 18,488
Government National
       Mortgage Association
       2.500%, 11/20/2042 to 07/20/2043 10,397,102 10,385,120
       3.000%, TBA (C) 4,485,000 4,619,668
       3.000%, 09/20/2044 to 12/20/2044 17,246,868 17,789,017
       3.500%, TBA (C) 25,160,000 26,484,830
       3.500%, 09/15/2041 to 03/20/2045 37,125,802 39,173,340
       4.000%, TBA (C) 12,170,000 12,966,755
       4.000%, 09/20/2040 to 12/20/2044 14,557,183 15,650,811
       4.500%, 01/15/2019 to 09/20/2040 10,739,912 11,825,233
       5.000%, 01/15/2019 to 03/20/2041 7,511,736 8,386,477
       5.500%, 02/15/2029 to 06/20/2044 6,320,586 7,137,204
       6.000%, 02/15/2016 to 07/20/2039 3,288,387 3,768,138
       6.500%, 08/15/2016 to 09/15/2038 1,975,623 2,293,026
       7.000%, 04/15/2017 to 10/20/2036 810,298 955,278
       9.250%, 02/15/2017 to 12/15/2019 1,669 1,889
       9.750%, 07/15/2017 to 02/15/2021 1,953 2,281
       10.250%, 11/15/2020 1,171 1,384
472,813,199
TOTAL U.S. GOVERNMENT AND AGENCY
OBLIGATIONS (Cost $796,430,819) $ 821,683,437
 
FOREIGN GOVERNMENT
OBLIGATIONS - 2.1%
Bermuda - 0.3%
Government of Bermuda
       4.138%, 01/03/2023 (S) 2,075,000 2,059,438
       5.603%, 07/20/2020 (S) 2,190,000 2,419,950
4,479,388
Brazil - 0.4%
Federative Republic of Brazil
       6.000%, 08/15/2020 to 08/15/2050 BRL 7,871,000 6,324,986
Iceland - 0.1%
Republic of Iceland
       5.875%, 05/11/2022 $ 1,480,000 1,709,184
Mexico - 0.7%
Government of Mexico
       4.000%, 06/13/2019 MXN 20,555,414 1,443,056
       4.500%, 12/04/2025 22,197,728 1,661,773
       6.500%, 06/10/2021 59,320,000 4,069,356
       7.750%, 11/13/2042 36,295,000 2,758,534
       8.500%, 11/18/2038 16,590,000 1,354,449
11,287,168
Morocco - 0.1%
Kingdom of Morocco
       4.250%, 12/11/2022 (S) $ 2,580,000 2,670,300
Singapore - 0.2%
Republic of Singapore
       3.000%, 09/01/2024 SGD 5,185,000 4,007,005
South Africa - 0.3%
Republic of South Africa
       5.875%, 09/16/2025 $ 2,565,000 2,937,438
       6.750%, 03/31/2021 ZAR 31,680,000 2,533,042
5,470,480
TOTAL FOREIGN GOVERNMENT
OBLIGATIONS (Cost $40,174,205) $ 35,948,511
 
CORPORATE BONDS - 28.2%
Consumer discretionary - 4.2%
21st Century Fox America, Inc.
       4.750%, 09/15/2044 $ 3,790,000 4,248,325
Altice SA
       7.625%, 02/15/2025 (S) 2,175,000 2,179,078
Amazon.com, Inc.
       3.800%, 12/05/2024 2,535,000 2,664,262
       4.950%, 12/05/2044 5,310,000 5,793,714
Argos Merger Sub, Inc.
       7.125%, 03/15/2023 525,000 544,031
CCO Holdings LLC
       6.625%, 01/31/2022 1,530,000 1,635,188
Comcast Corp.
       3.125%, 07/15/2022 2,210,000 2,289,489
       4.200%, 08/15/2034 1,950,000 2,112,704
Delphi Corp.
       4.150%, 03/15/2024 1,770,000 1,881,639
       5.000%, 02/15/2023 1,885,000 2,021,663
DISH DBS Corp.
       5.125%, 05/01/2020 2,335,000 2,352,513
Family Tree Escrow LLC
       5.750%, 03/01/2023 (S) 2,375,000 2,493,750
General Motors Company
       4.000%, 04/01/2025 1,560,000 1,584,522
       5.200%, 04/01/2045 1,220,000 1,324,258
       6.250%, 10/02/2043 1,845,000 2,260,476
General Motors Financial Company, Inc.
       6.750%, 06/01/2018 2,285,000 2,570,625
Hyatt Hotels Corp.
       3.875%, 08/15/2016 2,260,000 2,340,922
INVISTA Finance LLC
       4.250%, 10/15/2019 (S) 1,115,000 1,108,031
Newell Rubbermaid, Inc.
       2.050%, 12/01/2017 1,250,000 1,256,581
O’Reilly Automotive, Inc.
       4.875%, 01/14/2021 3,970,000 4,428,555
Omnicom Group, Inc.
       3.650%, 11/01/2024 2,815,000 2,911,994
QVC, Inc.
       3.125%, 04/01/2019 3,475,000 3,498,894
       4.375%, 03/15/2023 445,000 453,389
Sirius XM Radio, Inc.
       5.250%, 08/15/2022 (S) 4,271,000 4,505,905
The Interpublic Group of Companies, Inc.
       3.750%, 02/15/2023 1,615,000 1,672,916
       4.000%, 03/15/2022 2,365,000 2,477,513
The Priceline Group, Inc.
       3.650%, 03/15/2025 2,135,000 2,172,725
Univision Communications, Inc.
       5.125%, 05/15/2023 (S) 800,000 812,000

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

New Income Trust (continued)

Shares or
Principal
Amount Value
CORPORATE BONDS (continued)
Consumer discretionary (continued)
Virgin Media Secured Finance PLC
       5.250%, 01/15/2021 $ 860,000       $ 918,050
WPP Finance 2010
       4.750%, 11/21/2021 3,650,000 4,111,732
70,625,444
Consumer staples - 0.2%
Rite Aid Corp.
       6.125%, 04/01/2023 (S) 425,000 435,625
Tyson Foods, Inc.
       3.950%, 08/15/2024 1,800,000 1,901,671
Walgreens Boots Alliance, Inc.
       2.700%, 11/18/2019 1,235,000 1,261,674
3,598,970
Energy - 3.5%
Anadarko Petroleum Corp.
       3.450%, 07/15/2024 280,000 282,397
       6.375%, 09/15/2017 1,730,000 1,924,504
Continental Resources, Inc.
       5.000%, 09/15/2022 4,060,000 4,004,175
DCP Midstream Operating LP
       3.875%, 03/15/2023 1,890,000 1,701,338
Ecopetrol SA
       4.125%, 01/16/2025 2,040,000 1,953,055
       5.875%, 05/28/2045 600,000 562,500
Energy Transfer Partners LP
       5.200%, 02/01/2022 1,565,000 1,705,146
Enterprise Products Operating LLC
       5.950%, 02/01/2041 2,755,000 3,343,082
KazMunayGas National Company JSC
       9.125%, 07/02/2018 800,000 868,640
Murphy Oil Corp.
       4.000%, 06/01/2022 900,000 859,991
Newfield Exploration Company
       5.375%, 01/01/2026 575,000 580,822
       5.625%, 07/01/2024 625,000 650,000
       5.750%, 01/30/2022 865,000 901,763
Noble Energy, Inc.
       4.150%, 12/15/2021 1,775,000 1,879,982
       6.000%, 03/01/2041 2,665,000 3,000,225
Noble Holding International, Ltd.
       5.950%, 04/01/2025 2,230,000 2,177,562
Origin Energy Finance, Ltd.
       3.500%, 10/09/2018 (S) 1,690,000 1,740,732
Pertamina Persero PT
       4.300%, 05/20/2023 705,000 706,763
       6.450%, 05/30/2044 (S) 1,055,000 1,134,125
Petrobras Global Finance BV
       4.375%, 05/20/2023 80,000 68,408
       5.750%, 01/20/2020 735,000 683,300
       5.875%, 03/01/2018 1,055,000 1,010,163
       7.875%, 03/15/2019 866,000 882,021
Petroleos Mexicanos
       4.875%, 01/24/2022 4,240,000 4,499,700
       5.500%, 06/27/2044 3,855,000 3,888,731
       6.500%, 06/02/2041 1,775,000 2,010,188
Rowan Companies, Inc.
       4.875%, 06/01/2022 1,190,000 1,143,754
SESI LLC
       6.375%, 05/01/2019 3,325,000 3,374,875
       7.125%, 12/15/2021 225,000 227,250
Southwestern Energy Company
       4.050%, 01/23/2020 2,395,000 2,474,885
       4.950%, 01/23/2025 830,000 844,179
The Williams Companies, Inc.
       3.700%, 01/15/2023 3,205,000 2,962,705
Weatherford International, Ltd.
       5.125%, 09/15/2020 165,000 160,670
Western Gas Partners LP
       4.000%, 07/01/2022 2,535,000 2,576,850
Whiting Petroleum Corp.
       6.250%, 04/01/2023 (S) 425,000 422,609
Williams Partners LP
       6.300%, 04/15/2040 2,365,000 2,602,437
59,809,527
Financials - 10.7%
ABN AMRO Bank NV
       6.250%, 04/27/2022 3,026,000 3,465,729
Aflac, Inc.
       3.625%, 06/15/2023 4,320,000 4,547,029
Ameriprise Financial, Inc.
       7.300%, 06/28/2019 2,530,000 3,057,032
Bank of America Corp.
       3.300%, 01/11/2023 4,360,000 4,416,850
       4.200%, 08/26/2024 4,965,000 5,136,620
       6.110%, 01/29/2037 4,940,000 6,015,947
Barclays Bank PLC
       5.140%, 10/14/2020 5,995,000 6,660,541
Barclays PLC
       2.750%, 11/08/2019 2,095,000 2,115,640
BBVA Bancomer SA
       4.375%, 04/10/2024 (S) 2,975,000 3,082,844
BPCE SA
       5.700%, 10/22/2023 (S) 4,523,000 5,002,185
Branch Banking & Trust Company
       3.800%, 10/30/2026 4,440,000 4,674,960
CNA Financial Corp.
       3.950%, 05/15/2024 1,100,000 1,140,041
       5.875%, 08/15/2020 2,665,000 3,082,286
Credit Agricole SA
       2.500%, 04/15/2019 (S) 3,940,000 4,017,988
Crown Castle Towers LLC
       6.113%, 01/15/2020 (S) 3,988,000 4,549,323
Discover Financial Services
       3.750%, 03/04/2025 1,385,000 1,395,162
General Electric Capital Corp.
       5.300%, 02/11/2021 3,650,000 4,216,217
HSBC Holdings PLC
       6.375%, 03/30/2025 (P)(Q) 800,000 820,000
IFC Development Corporate
       Treasury, Ltd.
       2.375%, 05/21/2019 4,465,000 4,434,522
ING Bank NV
       2.450%, 03/16/2020 (S) 1,475,000 1,493,094
       4.125%, 11/21/2023 (P) 200,000 206,970
Liberty Mutual Group, Inc.
       4.850%, 08/01/2044 (S) 3,530,000 3,828,271
Lloyds Bank PLC
       6.500%, 09/14/2020 (S) 4,476,000 5,258,705
Marsh & McLennan Companies, Inc.
       2.350%, 03/06/2020 1,905,000 1,915,775
       3.500%, 03/10/2025 3,135,000 3,220,874
Morgan Stanley
       2.125%, 04/25/2018 12,690,000 12,827,357
       3.750%, 02/25/2023 8,280,000 8,677,879

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

New Income Trust (continued)

Shares or
Principal
        Amount       Value
CORPORATE BONDS (continued)    
Financials (continued)    
Morgan Stanley (continued)    
       5.000%, 11/24/2025 $ 5,745,000 $ 6,346,243
       5.500%, 07/28/2021 1,405,000   1,629,893
Neuberger Berman Group LLC    
       5.875%, 03/15/2022 (S) 1,695,000   1,809,413
Nordea Bank AB    
       4.875%, 05/13/2021 (S) 3,095,000   3,393,671
Provident Companies, Inc.    
       7.000%, 07/15/2018 2,360,000   2,692,312
Reinsurance Group of America, Inc.    
       4.700%, 09/15/2023 3,360,000   3,670,605
       5.000%, 06/01/2021 1,720,000   1,923,663
       5.625%, 03/15/2017 2,275,000   2,452,951
       6.450%, 11/15/2019 705,000   824,084
Santander UK PLC      
       5.000%, 11/07/2023 (S) 3,895,000   4,194,397
Sun Hung Kai Properties Capital    
       Market, Ltd.    
       3.625%, 01/16/2023 4,300,000   4,450,926
The Goldman Sachs Group, Inc.    
       2.375%, 01/22/2018 5,415,000   5,524,832
       2.900%, 07/19/2018 3,785,000   3,911,188
       3.625%, 01/22/2023 13,495,000   13,958,864
       5.750%, 01/24/2022 1,900,000   2,217,980
The Link Finance Cayman 2009, Ltd.    
       3.600%, 09/03/2024 1,810,000   1,853,078
The Royal Bank of Scotland PLC    
       6.125%, 01/11/2021 2,950,000   3,520,270
Unum Group    
       4.000%, 03/15/2024 3,435,000   3,632,310
       5.625%, 09/15/2020 1,040,000   1,190,441
US Bank NA    
       2.125%, 10/28/2019 3,270,000   3,312,458
  181,769,420
Health care - 2.3%    
Actavis Funding SCS    
       3.000%, 03/12/2020 1,675,000   1,715,981
       3.800%, 03/15/2025 610,000   629,030
       4.550%, 03/15/2035 1,200,000   1,250,897
Agilent Technologies, Inc.    
       3.200%, 10/01/2022 425,000   419,444
       3.875%, 07/15/2023 430,000   440,914
AmerisourceBergen Corp.    
       3.250%, 03/01/2025 790,000   800,525
Bayer US Finance LLC    
       3.375%, 10/08/2024 (S) 1,280,000   1,333,526
Community Health Systems, Inc.    
       8.000%, 11/15/2019 2,250,000   2,390,625
Gilead Sciences, Inc.    
       3.500%, 02/01/2025 1,350,000   1,425,940
       4.500%, 02/01/2045 2,165,000   2,403,501
Humana, Inc.    
       3.850%, 10/01/2024 2,485,000   2,597,302
       4.950%, 10/01/2044 1,750,000   1,925,830
Kaiser Foundation Hospitals    
       3.500%, 04/01/2022 2,455,000   2,512,567
Keysight Technologies, Inc.            
       4.550%, 10/30/2024 (S) 3,085,000   3,108,526
Life Technologies Corp.    
       3.500%, 01/15/2016 3,455,000   3,522,725
Medtronic, Inc.    
       3.500%, 03/15/2025 (S) 4,405,000   4,608,815
       4.625%, 03/15/2045 (S) 1,395,000   1,581,385
Novant Health, Inc.    
       5.850%, 11/01/2019 1,445,000   1,665,313
Thermo Fisher Scientific, Inc.    
       2.400%, 02/01/2019 950,000   963,342
       4.150%, 02/01/2024 2,165,000   2,337,566
VRX Escrow Corp.    
       5.875%, 05/15/2023 (S) 750,000   768,750
    38,402,504
Industrials - 2.5%    
American Airlines 2013-1 Class A Pass    
       Through Trust    
       4.000%, 07/15/2025 3,413,301   3,549,833
American Airlines 2014-1 Class B Pass    
       Through Trust    
       4.375%, 10/01/2022 305,000   315,675
American Airlines 2015-1 Class B Pass    
       Through Trust    
       3.700%, 05/01/2023 580,000   582,175
Burlington Northern Santa Fe LLC    
       5.400%, 06/01/2041 1,525,000   1,833,517
Continental Airlines 2009-1 Pass    
       Through Trust    
       9.000%, 07/08/2016 1,193,615   1,292,088
Continental Airlines 2010-1 Class A Pass    
       Through Trust    
       4.750%, 01/12/2021 839,249   900,095
Continental Airlines 2012-1 Class A Pass    
       Through Trust    
       4.150%, 04/11/2024 1,065,098   1,129,004
CRCC Yupeng, Ltd.    
       3.950%, 08/01/2019 (P)(Q) 465,000   475,742
Delta Air Lines 2010-2 Class A Pass    
       Through Trust    
       4.950%, 05/23/2019 688,445   737,496
Delta Air Lines 2011-1 Class A Pass    
       Through Trust    
       5.300%, 04/15/2019 435,703   473,827
ERAC USA Finance LLC    
       5.250%, 10/01/2020 (S) 3,300,000   3,765,293
GATX Corp.    
       2.600%, 03/30/2020 880,000   882,353
Heathrow Funding, Ltd.    
       4.875%, 07/15/2021 (S) 5,585,000   6,253,625
HPHT Finance 15, Ltd.    
       2.250%, 03/17/2018 (S) 1,217,000   1,220,932
       2.875%, 03/17/2020 (S) 1,264,000   1,276,902
Lockheed Martin Corp.    
       3.600%, 03/01/2035 660,000   659,263
       3.800%, 03/01/2045 1,635,000   1,625,481
Odebrecht Finance, Ltd.    
       5.250%, 06/27/2029 (S) 2,885,000   2,329,638
Reliance Intermediate Holdings LP    
       6.500%, 04/01/2023 (S) 550,000   562,375
Textron, Inc.    
       4.300%, 03/01/2024 1,005,000   1,075,881
The Boeing Company    
       2.500%, 03/01/2025 985,000   981,189
Union Pacific Corp.    
       4.750%, 09/15/2041 3,475,000   4,049,633
US Airways 2012-2 Class A Pass    
       Through Trust    
       4.625%, 06/03/2025 2,644,596   2,829,717

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

New Income Trust (continued)

Shares or
Principal
      Amount       Value
CORPORATE BONDS (continued)
Industrials (continued)
US Airways 2013-1 Class A Pass
       Through Trust
       3.950%, 11/15/2025 $ 2,849,534 $ 2,956,391
41,758,125
Information technology - 1.2%
Alibaba Group Holding, Ltd.
       2.500%, 11/28/2019 (S) 1,835,000 1,835,631
Arrow Electronics, Inc.
       3.500%, 04/01/2022 1,035,000 1,037,349
Avnet, Inc.
       4.875%, 12/01/2022 4,125,000 4,436,961
Baidu, Inc.  
       2.750%, 06/09/2019 3,390,000 3,424,880
First Data Corp.
       12.625%, 01/15/2021 2,085,000 2,470,725
Fiserv, Inc.
       3.500%, 10/01/2022 1,200,000 1,236,491
Tencent Holdings, Ltd.
       2.875%, 02/11/2020 (S) 1,595,000 1,606,600
       3.375%, 05/02/2019 (S) 3,585,000 3,710,371
  19,759,008
Materials - 0.6%
Alcoa, Inc.
       5.125%, 10/01/2024 2,985,000 3,194,881
ArcelorMittal
       6.125%, 06/01/2018 1,525,000 1,638,613
Holcim US Finance Sarl & Cie SCS
       6.000%, 12/30/2019 (S) 2,095,000 2,418,874
LYB International Finance BV
       4.000%, 07/15/2023 2,420,000 2,567,054
Martin Marietta Materials, Inc.
       4.250%, 07/02/2024 980,000 1,027,445
  10,846,867
Telecommunication services - 2.2%
CC Holdings GS V LLC
       2.381%, 12/15/2017 4,208,000 4,242,363
GTP Acquisition Partners I LLC
       2.364%, 05/15/2018 (S) 2,905,000 2,896,555
       4.347%, 06/15/2016 (S) 1,335,000 1,359,317
SBA Tower Trust
       2.898%, 10/15/2019 (S) 1,650,000 1,669,967
       3.598%, 04/15/2018 (S) 3,575,000 3,573,992
       3.869%, 10/15/2024 (S) 2,895,000 3,013,168
Sprint Communications, Inc.
       9.000%, 11/15/2018 (S) 2,140,000 2,455,650
T-Mobile USA, Inc.
       6.731%, 04/28/2022 3,100,000 3,262,750
Telstra Corp., Ltd.
       3.125%, 04/07/2025 (S) 1,635,000 1,632,221
Verizon Communications, Inc.
       4.500%, 09/15/2020 5,050,000 5,576,579
       6.400%, 09/15/2033 6,750,000 8,425,640
  38,108,202
Utilities - 0.8%
Exelon Generation Company LLC
       2.950%, 01/15/2020 2,300,000 2,338,801
       6.250%, 10/01/2039 945,000 1,150,809
FirstEnergy Corp.
       4.250%, 03/15/2023 2,930,000 3,066,831
FirstEnergy Transmission LLC
       4.350%, 01/15/2025 (S) 3,065,000 3,237,532
Pennsylvania Electric Company
       6.150%, 10/01/2038 1,375,000 1,718,635
PPL Capital Funding, Inc.
       3.500%, 12/01/2022 2,555,000 2,663,176
Suburban Propane Partners LP
       7.375%, 08/01/2021 55,000 59,125
  14,234,909
TOTAL CORPORATE BONDS (Cost $456,386,803)   $ 478,912,976
   
MUNICIPAL BONDS - 1.3%
Chicago Metropolitan Water Reclamation
       District (Illinois) 5.720%, 12/01/2038 1,360,000 1,741,480
City of Chicago (Illinois)
       6.395%, 01/01/2040 1,925,000 2,617,962
Denver City & County School District
       No. 1 (Colorado) 4.242%, 12/15/2037 1,575,000 1,646,899
District of Columbia 5.591%, 12/01/2034 375,000 472,560
Florida Hurricane Catastrophe Fund
       Finance Corp., Series A
       2.995%, 07/01/2020 1,760,000 1,810,442
JobsOhio Beverage System
       4.532%, 01/01/2035 1,400,000 1,576,344
Los Angeles Department of Airports
       (California) 7.053%, 05/15/2040 1,230,000 1,747,018
Maryland State Transportation Authority
       5.888%, 07/01/2043 1,070,000 1,431,949
New York City Municipal Water Finance
       Authority 5.952%, 06/15/2042 840,000 1,137,444
Philadelphia Authority for Industrial
       Development (Pennsylvania)
       3.964%, 04/15/2026 1,590,000 1,620,019
Port Authority of New York & New Jersey
       4.458%, 10/01/2062 3,050,000 3,335,633
South Carolina State Public Service
       Authority 4.322%, 12/01/2027 1,705,000 1,885,219
State of Oregon 5.892%, 06/01/2027 60,000 74,459
University of California
       4.131%, 05/15/2045 495,000 505,544
Virginia Commonwealth Transportation
       Board 5.350%, 05/15/2035 515,000 621,914
TOTAL MUNICIPAL BONDS (Cost $19,147,498)   $ 22,224,886
   
TERM LOANS (M) - 1.0%
Consumer discretionary - 0.4%
Dollar Tree, Inc.
       4.250%, 03/09/2022 1,175,000 1,186,933
Great Wolf Resorts, Inc.
       5.750%, 08/06/2020 1,790,886 1,792,378
Univision Communications, Inc.
       4.000%, 03/01/2020 3,069,215 3,062,503
  6,041,814
Consumer staples - 0.1%
HJ Heinz Company
       3.250%, 06/05/2020 1,031,823 1,031,694
Financials - 0.2%
Asurion LLC
       5.000%, 05/24/2019 4,164,484 4,175,641
Health care - 0.1%
Valeant Pharmaceuticals International, Inc.
       TBD 03/13/2022 (T) 1,050,000 1,054,594

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

New Income Trust (continued)

Shares or
Principal
  Amount       Value
TERM LOANS (M) (continued)
Information technology - 0.1%
First Data Corp.
       4.174%, 03/24/2021 $ 2,551,102 $ 2,561,125
Telecommunication services - 0.1%
Intelsat Jackson Holdings SA
       3.750%, 06/30/2019 2,123,377 2,114,352
TOTAL TERM LOANS (Cost $16,930,943) $ 16,979,220
 
COLLATERALIZED MORTGAGE
OBLIGATIONS - 9.6%
Commercial and residential - 8.6%
Adjustable Rate Mortgage Trust,
       Series 2005-8, Class 7A-31
       0.413%, 11/25/2035 (P) 35,034 34,913
Alternative Loan Trust, Series 2004-33,
       Class 4A1 2.434%, 12/25/2034 (P) 1,673,875 1,606,908
Banc of America
       Commercial Mortgage Trust, Inc.
       Series 2006-5, Class AM,
              5.448%, 09/10/2047 4,975,000 5,222,631
       Series 2007-4, Class AM,
              5.820%, 02/10/2051 (P) 2,425,000 2,634,399
       Series 2006-3, Class AM,
              5.843%, 07/10/2044 (P) 2,210,000 2,279,944
Banc of America Funding Corp.,
       Series 2005-A, Class 5A1
       0.476%, 02/20/2035 (P) 204,007 192,741
Banc of America Mortgage Securities
       Series 2004-I, Class 3A2,
              2.620%, 10/25/2034 (P) 7,663 7,606
       Series 2005-B, Class 2A1,
              2.657%, 03/25/2035 (P) 1,190,333 1,075,474
       Series 2004-A, Class 2A2,
              2.670%, 02/25/2034 (P) 34,418 34,225
       Series 2004-D, Class 2A2,
              2.670%, 05/25/2034 (P) 16,727 16,671
       Series 2004-H, Class 2A2,
              2.672%, 09/25/2034 (P) 45,853 45,088
       Series 2005-J, Class 3A1,
              2.706%, 11/25/2035 (P) 901,517 848,404
Citigroup Commercial Mortgage Trust,
       Series 2015-GC27, Class AS
       3.571%, 02/10/2048 1,285,000 1,327,853
Commercial Mortgage Pass
       Through Certificates
       Series 2014-TWC, Class A,
              1.022%, 02/13/2032 (P)(S) 2,135,000 2,131,163
       Series 2014-CR20, Class A4,
              3.590%, 11/10/2047 1,120,000 1,191,466
       Series 2014-UBS6, Class A5,
              3.644%, 12/10/2047 3,275,000 3,490,587
       Series 2014-LC15, Class A4,
              4.006%, 04/10/2047 3,520,000 3,863,358
       Series 2014-CR15, Class C,
              4.770%, 02/10/2047 (P) 1,995,000 2,175,693
Commercial Mortgage Trust
       Series 2007-GG9, Class AM,
              5.475%, 03/10/2039 2,700,000 2,847,363
       Series 2007-GG9, Class AMFX,
              5.475%, 03/10/2039 5,095,000 5,384,814
Commercial Mortgage Pass Through
       Certificates, Series 2014-CR21,
       Class A3 3.528%, 12/10/2047 8,805,000 9,321,871
Credit Suisse Commercial Mortgage Trust,
       Series 2007-C3, Class AM
       5.704%, 06/15/2039 (P) 835,000 876,296
Credit Suisse Mortgage Capital
       Certificates, Series 2010-1R,
       Class 42A1 5.000%, 10/27/2036 (S) 133,841 137,506
Deutsche Alt-A Securities, Inc. Mortgage
       Loan Trust, Series 2005-2, Class 1A1
       0.573%, 04/25/2035 (P) 1,217,223 1,070,190
DSLA Mortgage Loan Trust
       Series 2004-AR4, Class 2A1A,
              0.537%, 01/19/2045 (P) 1,319,062 1,160,836
       Series 2004-AR1, Class A1A,
              1.017%, 09/19/2044 (P) 1,441,651 1,363,889
Fosse Master Issuer PLC
       Series 2012-1A, Class 3A1,
              1.756%, 10/18/2054 (P)(S) 2,795,000 2,855,417
       Series 2011-1A, Class A5,
              1.756%, 10/18/2054 (P)(S) 481,415 486,569
FREMF Mortgage Trust
       Series 2014-K41, Class B,
              3.830%, 11/25/2047 (P) 2,415,000 2,489,785
       Series 2015-K43, Class B,
              3.862%, 02/25/2048 (P)(S) 1,560,000 1,594,181
GMAC Mortgage Corp. Loan Trust,
       Series 2005-AR3, Class 5A1
       4.952%, 06/19/2035 (P) 348,952 346,126
GreenPoint Mortgage Funding Trust,
       Series 2005-AR1, Class A1
       0.653%, 06/25/2045 (P) 1,621,481 1,279,761
GS Mortgage Securities Corp. II,
       Series 2014-GC20, Class B
       4.529%, 04/10/2047 (P) 1,885,000 2,052,848
GS Mortgage Securities Trust,
       Series 2006-GG6, Class A4
       5.552%, 04/10/2038 (P) 5,100,000 5,182,610
HarborView Mortgage Loan Trust,
       Series 2005-2, Class 2A1A
       0.397%, 05/19/2035 (P) 570,468 473,649
Holmes Master Issuer PLC
       Series 2012-1A, Class A2,
              1.903%, 10/15/2054 (P)(S) 430,917 431,110
       Series 2012-3A, Class B1,
              2.453%, 10/15/2054 (P)(S) 2,950,000 3,047,371
HomeBanc Mortgage Trust
       Series 2005-4, Class A1,
              0.443%, 10/25/2035 (P) 1,622,390 1,437,859
       Series 2005-4, Class A2,
              0.503%, 10/25/2035 (P) 1,475,609 1,313,261
IndyMac INDX Mortgage Loan Trust,
       Series 2005-AR18, Class 2A1B
       0.953%, 10/25/2036 (P) 2,718,096 2,072,755
JPMBB Commercial
       Mortgage Securities Trust
       Series 2014-C24, Class A5,
              3.639%, 11/15/2047 625,000 669,765
       Series 2014-C25, Class A5,
              3.672%, 11/15/2047 2,095,000 2,242,046
JPMorgan Alternative Loan Trust,
       Series 2007-A2, Class 12A3
       0.363%, 06/25/2037 (P) 597,867 565,137

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

New Income Trust (continued)

Shares or
  Principal
      Amount       Value
COLLATERALIZED MORTGAGE
OBLIGATIONS (continued)
Commercial and residential (continued)
JPMorgan Chase Commercial
       Mortgage Securities Trust
       Series 2006-LDP9, Class A3,
              5.336%, 05/15/2047 $ 607,922 $ 640,250
       Series 2006-CB16, Class A4,  
              5.552%, 05/12/2045 8,464,788 8,774,667
       Series 2007-CB19, Class AM,
              5.693%, 02/12/2049 (P) 8,480,000 8,965,124
       Series 2007-CB19, Class A4,
              5.693%, 02/12/2049 (P) 4,823,000 5,193,320
       Series 2007-LD11, Class AM,  
              5.775%, 06/15/2049 (P) 925,000 973,087
JPMorgan Mortgage Trust,
       Series 2005-ALT1, Class 1A1
       0.473%, 10/25/2035 (P) 2,185,954 1,663,279
LB-UBS Commercial Mortgage Trust
       Series 2006-C1, Class A4,
              5.156%, 02/15/2031 5,463,056 5,542,363
       Series 2007-C6, Class AM,
              6.114%, 07/15/2040 (P) 1,070,000 1,158,136
       Series 2008-C1, Class AM,
              6.146%, 04/15/2041 (P) 825,000 911,032
       Series 2008-C1, Class A2,
              6.146%, 04/15/2041 (P) 1,399,485 1,533,991
Merrill Lynch Mortgage Investors Trust,
       Series 2005-A9, Class 2A1C
       2.522%, 12/25/2035 (P) 1,495,000 1,435,158
Merrill Lynch Mortgage Trust,
       Series 2006-C2, Class AM
       5.782%, 08/12/2043 (P) 2,950,000 3,111,698
Morgan Stanley Capital I Trust
       Series 2007-IQ14, Class AMFX,
              5.648%, 04/15/2049 (P) 3,895,000 4,084,636
       Series 2007-IQ14, Class AM,
              5.648%, 04/15/2049 (P) 1,095,000 1,149,144
       Series 2007-IQ14, Class A4,
              5.685%, 04/15/2049 (P) 1,885,000 2,021,270
       Series 2007-IQ15, Class A4,
              5.909%, 06/11/2049 (P) 1,050,286 1,140,565
Sequoia Mortgage Trust
       Series 2010-H1, Class A1,
              1.991%, 02/25/2040 (P) 50,543 50,146
       Series 2013-6, Class A1,
              2.500%, 05/25/2043 (P) 3,921,692 3,766,416
       Series 2013-7, Class A2,
              3.000%, 06/25/2043 (P) 1,808,312 1,790,229
STARM Mortgage Loan Trust,
       Series 2007-2, Class 5A1
       5.467%, 04/25/2037 (P) 1,087,268 982,988
Vendee Mortgage Trust, Series 1996-3,
       Class 4 9.630%, 03/15/2025 (P) 2,571 2,774
Wachovia Bank Commercial
       Mortgage Trust, Series 2006-C28,
       Class A4 5.572%, 10/15/2048 7,615,661 8,007,814
WaMu Mortgage Pass Through
       Certificates, Series 2005-AR12,
       Class 2A1 2.363%, 09/25/2035 (P) 404,755 408,994
Wells Fargo Commercial Mortgage Trust,
       Series 2015-LC20, Class C
       4.056%, 04/15/2050 (S) 1,105,000 1,104,924
Wells Fargo Mortgage
       Backed Securities Trust
       Series 2006-2, Class 2A1,
              0.873%, 03/25/2036 (P) 1,113,960 907,268
       Series 2003-O, Class 5A1,
              2.490%, 01/25/2034 (P) 44,271 43,972
WF-RBS Commercial Mortgage Trust
       Series 2014-C24, Class A5,
              3.607%, 11/15/2047 1,000,000 1,066,478
       Series 2014-C19, Class B,
              4.723%, 03/15/2047 (P) 960,000 1,066,216
146,378,078
U.S. Government Agency - 1.0%
Federal Home Loan Mortgage Corp.
       Series 199, Class PO,
              0.507%, 08/01/2028 1,632 1,524
       Series K502, Class A2,
              1.426%, 08/25/2017 1,645,000 1,662,330
       Series K025, Class A1,
              1.875%, 04/25/2022 2,624,179 2,642,596
       Series 2015-HQ1, Class M2,
              2.373%, 03/25/2025 (P) 1,525,000 1,527,122
       Series 2014-HQ2, Class M2,
              2.373%, 09/25/2024 (P) 1,385,000 1,377,952
       Series 2014-DN3, Class M2,
              2.573%, 08/25/2024 (P) 1,715,000 1,735,899
       Series 2015-DN1, Class M2,
              2.573%, 01/25/2025 (P) 1,905,000 1,932,175
Federal National Mortgage Association
       Series 2015-C01, Class 1M1,
              1.673%, 02/25/2025 (P) 630,416 634,734
       Series 2015-C01, Class 2M1,
              1.673%, 02/25/2025 (P) 355,164 356,205
       Series 2014-C04, Class 1M1,
              2.123%, 11/25/2024 (P) 2,099,798 2,120,319
       Series 2014-C04, Class 2M1,
              2.273%, 11/25/2024 (P) 1,098,504 1,111,013
       Series 319, Class 2 IO,
              6.500%, 02/25/2032 4,727 1,069
Government National
       Mortgage Association
       Series 2012-94, Class BI,
              4.000%, 05/20/2037 4,839,490 736,730
       Series 2013-24, Class OI IO,
              4.000%, 02/20/2043 2,415,683 318,904
       Series 2010-92, Class PI IO,
              4.500%, 11/20/2037 3,805,004 219,062
       Series 2010-103, Class IN IO,
              4.500%, 02/20/2039 1,790,279 96,195
       Series 2011-88, Class EI IO,
              4.500%, 11/20/2039 1,061,225 98,485
       Series 2011-41 Class AI IO,
              4.500%, 12/20/2039 6,029,021 563,014
       Series 2004-43, Class D,
              4.994%, 03/16/2030 (P) 6,085 6,124
  17,141,452
TOTAL COLLATERALIZED MORTGAGE
OBLIGATIONS (Cost $159,956,815) $ 163,519,530

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

New Income Trust (continued)

Shares or
Principal
      Amount       Value
ASSET BACKED SECURITIES - 8.5%
Ally Auto Receivables Trust
       Series 2012-A, Class C,
              2.400%, 11/15/2017 (S) $ 1,110,000 $ 1,125,282
       Series 2012-A, Class D,
              3.150%, 10/15/2018 (S) 1,650,000 1,683,777
American Express Credit Account
       Master Trust, Series 2012-5, Class C
       1.070%, 05/15/2018 (S) 1,145,000 1,146,787
AmeriCredit
       Automobile Receivables Trust
       Series 2012-4, Class C,  
              1.930%, 08/08/2018 1,430,000 1,439,664
       Series 2012-1, Class C,
              2.670%, 01/08/2018 300,000 302,674
       Series 2011-1, Class C,
              2.850%, 08/08/2016 221,056 221,141
Ascentium Equipment Receivables Trust,
       Series 2015-1A, Class A3
       1.610%, 10/13/2020 (S) 927,000 929,253
Avis Budget Rental Car
       Funding AESOP LLC
       Series 2014-1A, Class A,  
              2.460%, 07/20/2020 (S) 6,905,000 6,989,434
       2.500%, 02/20/2021 (S) 865,000 874,443
       Series 2013-2A, Class A,
              2.970%, 02/20/2020 (S) 3,630,000 3,748,810
BankBoston Home Equity Loan Trust,
       Series 1998-2, Class A6
       6.640%, 12/25/2028 (P) 10,040 10,026
Barclays Dryrock
       Issuance Trust 2.200%, 12/15/2022 390,000 393,621
Cabela’s Credit Card Master Note Trust,
       Series 2015-1A, Class A1
       2.260%, 03/15/2023 1,875,000 1,895,777
Cabela’s Master Credit Card Trust
       Series 2012-1A, Class A1,
              1.630%, 02/18/2020 (S) 2,000,000 2,020,118
       Series 2011-2A, Class A1,
              2.390%, 06/17/2019 (S) 5,515,000 5,613,432
Capital Auto Receivables Asset Trust
       Series 2013-1, Class B,
              1.290%, 04/20/2018 345,000 344,757
       Series 2013-1, Class C,
              1.740%, 10/22/2018 360,000 361,310
       Series 2014-2, Class B,
              2.030%, 12/20/2018 930,000 938,069
       Series 2014-2, Class C,
              2.410%, 05/20/2019 835,000 837,196
       Series 2014-1, Class C,
              2.840%, 04/22/2019 655,000 664,577
CarMax Auto Owner Trust, Series 2014-1,
       Class D 2.430%, 08/17/2020 3,375,000 3,349,812
Chase Funding Trust
       Series 2002-4, Class 2A1,
              0.913%, 10/25/2032 (P) 4,363 4,041
       Series 2002-2, Class 1M1,
              5.599%, 09/25/2031 8,812 8,661
Chase Issuance Trust
       Series 2013-A8, Class A8,
              1.010%, 10/15/2018 3,475,000 3,481,658
       Series 2015, Class A2A,
              1.590%, 02/18/2020 1,810,000 1,822,500
CKE Restaurant Holdings, Inc.,
       Series 2013-1A, Class A2
       4.474%, 03/20/2043 (S) 2,798,450 2,889,148
CNH Equipment Trust, Series 2012-D,
       Class B 1.270%, 05/15/2020 2,936,000 2,941,182
CNH Wholesale Master Note Trust,
       Series 2013-2A, Class A
       0.774%, 08/15/2019 (P)(S) 3,640,000 3,646,730
Countrywide Asset-Backed Certificates,
       Series 2004-BC1, Class M2
       1.778%, 01/25/2034 (P) 1,777,711 1,661,801
DB Master Finance LLC, Series 2015-1A,
       Class A2I 3.262%, 02/20/2045 (S) 2,225,000 2,246,262
Diamond Resorts Owner Trust
       Series 2013-2, Class A,
              2.270%, 05/20/2026 (S) 2,231,262 2,243,174
       Series 2014-1, Class A,
              2.540%, 05/20/2027 (S) 3,517,229 3,534,101
Dominos Pizza Master Issuer LLC,
       Series 2012-1A, Class A2
       5.216%, 01/25/2042 (S) 1,816,550 1,888,616
Elara HGV Timeshare Issuer,
       Series 2014-A, Class A
       2.530%, 02/25/2027 (S) 1,409,974 1,406,960
Enterprise Fleet Financing LLC
       Series 2013-2, Class A2,
              1.060%, 03/20/2019 (S) 2,101,594 2,104,698
       Series 2015-1, Class A2,
              1.300%, 09/20/2020 (S) 6,715,000 6,723,374
Ford Credit Auto Owner Trust
       Series 2014-C, Class A4,
              1.560%, 02/15/2020 790,000 794,446
       Series 2013-B, Class D,
              1.820%, 11/15/2019 3,300,000 3,329,314
GreatAmerica Leasing Receivables,
       Series 2014-1, Class A4
       1.470%, 08/15/2020 (S) 1,640,000 1,642,378
GSAA Home Equity Trust
       Series 2007-7, Class 2A1,
              0.230%, 07/25/2037 (P) 1,515,323 1,327,360
       Series 2005-11, Class 2A1,
              0.453%, 10/25/2035 (P) 556,180 514,266
       Series 2005-MTR1, Class A4,
              0.543%, 10/25/2035 (P) 4,341,773 4,161,884
       Series 2005-8, Class A3,
              0.603%, 06/25/2035 (P) 2,479,397 2,335,572
HOA Funding LLC, Series 2014-1A,
       Class A2 4.846%, 08/20/2044 (S) 2,029,500 2,034,513
Honda Auto Receivables Owner Trust,
       Series 2014-4, Class A4
       1.460%, 10/15/2020 630,000 632,657
Huntington Auto Trust
       Series 2011-1A, Class B,
              1.840%, 01/17/2017 (S) 455,000 456,529
       Series 2011-1A, Class C,
              2.530%, 03/15/2017 (S) 2,160,000 2,171,558
Invitation Homes Trust,
       Series 2013-SFR1, Class A
       1.400%, 12/17/2030 (P)(S) 1,213,353 1,209,226
Kubota Credit Owner Trust,
       Series 2014-1A, Class A4
       1.670%, 07/15/2020 (S) 5,075,000 5,089,860
MVW Owner Trust
       Series 2013-1A, Class A,
              2.150%, 04/22/2030 (S) 763,676 766,985
       Series 2014-1A, Class A,
              2.250%, 09/20/2031 (S) 503,760 504,490

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

New Income Trust (continued)

Shares or
  Principal
      Amount       Value
ASSET BACKED SECURITIES (continued)  
Nissan Master
       Owner Trust Receivables Trust,
       Series 2015-A, Class A2
       1.440%, 01/15/2020 $ 3,495,000 $ 3,497,593
Nordstrom Credit Card Master
       Note Trust II, Series 2011-1A, Class A
       2.280%, 11/15/2019 (S) 6,905,000 7,025,320
Renaissance Home Equity Loan Trust,
       Series 2007-1, Class AF1
       5.742%, 04/25/2037 3,255,380 1,808,396
Residential Asset Mortgage Products, Inc.,
       Series 2003-RZ2, Class A1
       4.100%, 04/25/2033 6,161 6,202
Sierra Receivables Funding
       Company LLC, Series 2015-1A,
       Class A 2.400%, 03/22/2032 (S) 2,450,000 2,449,495
Sierra Timeshare
       Receivables Funding LLC
       Series 2014-1A, Class A,
              2.070%, 03/20/2030 (S) 2,582,701 2,597,921
       Series 2014-3A, Class A,  
              2.300%, 10/20/2031 (S) 2,782,022 2,807,856
SMART Trust
       Series 2013-1US, Class A4A,
              1.050%, 10/14/2018 1,460,000 1,456,235
       Series 2012-4US, Class A4A,
              1.250%, 08/14/2018 1,885,000 1,885,609
       Series 2015-1US, Class A3A,
              1.500%, 09/14/2018 985,000 985,402
       Series 2014-1US, Class A4A,
              1.680%, 12/14/2019 4,755,000 4,775,427
       Series 2011-2USA, Class A4A,
              2.310%, 04/14/2017 (S) 715,690 716,673
Synchrony Credit Card Master Note Trust
       Series 2013-1, Class B,
              1.690%, 03/15/2021 3,470,000 3,469,681
       Series 2014-1, Class B,
              1.810%, 11/15/2020 1,785,000 1,793,316
       Series 2014-1, Class C,
              1.910%, 11/15/2020 855,000 858,825
       Series 2012-2, Class A,
              2.220%, 01/15/2022 5,465,000 5,514,119
Terwin Mortgage Trust,
       Series 2005-14HE, Class AF2
       4.849%, 08/25/2036 367,517 378,241
Utility Debt Securitization Authority (New
       York), Series 2013-T, Class T1
       2.042%, 06/15/2021 2,010,000 2,040,472
Wheels SPV LLC, Series 2012-1,
       Class A3 1.530%, 03/20/2021 (S) 1,213,473 1,216,291
TOTAL ASSET BACKED SECURITIES (Cost $143,206,018)     $ 143,746,978
 
SHORT-TERM INVESTMENTS - 4.7%
Money market funds - 4.6%
T. Rowe Price Reserve Investment
       Fund, 0.0384% (Y) 79,667,037 79,667,037
Repurchase agreement - 0.1%
Repurchase Agreement with State
       Street Corp. dated 03/31/2015 at
       0.000% to be repurchased at $1,050,000
       on 04/01/2015, collateralized by
       $975,000 U.S. Treasury Notes, 3.625%
       due 08/15/2019 (valued at $1,076,205
       including interest) 1,050,000 1,050,000
TOTAL SHORT-TERM INVESTMENTS (Cost $80,717,037)     $ 80,717,037
Total Investments (New Income Trust)
       (Cost $1,712,950,138) - 103.8% $ 1,763,732,575
Other assets and liabilities, net - (3.8%) (65,274,989 )
TOTAL NET ASSETS - 100.0% $ 1,698,457,586
 
SALE COMMITMENTS OUTSTANDING - (0.7)%    
U.S. Government Agency - (0.7)%
Federal National Mortgage Association
       3.500%, TBA (C) (10,975,000 ) (11,529,752 )
TOTAL SALE COMMITMENTS
OUTSTANDING (Cost $(11,426,318)) $ (11,529,752 )

Real Estate Securities Trust

Shares or
Principal
      Amount       Value
COMMON STOCKS - 99.5%
Financials - 99.5%
Real estate investment trusts - 99.5%
Diversified REITs - 8.8%
American Realty Capital Properties, Inc. 761,385 $ 7,499,641
Duke Realty Corp. 442,260 9,628,000
Lexington Realty Trust 493,702 4,853,091
Liberty Property Trust 6,436 229,765
Spirit Realty Capital, Inc. 1,523,889 18,408,579
  40,619,076
Health Care REITs - 12.9%
Health Care REIT, Inc. 209,578 16,212,954
Healthcare Realty Trust, Inc. 92,032 2,556,649
Healthcare Trust of America, Inc., Class A 191,067 5,323,127
LTC Properties, Inc. 121,445 5,586,470
Ventas, Inc. 410,382 29,966,094
  59,645,294
Hotel and Resort REITs - 7.6%
Chesapeake Lodging Trust 34,661 1,172,582
DiamondRock Hospitality Company 491,650 6,947,015
Host Hotels & Resorts, Inc. 257,835 5,203,110
Pebblebrook Hotel Trust 90,689 4,223,387
RLJ Lodging Trust 171,333 5,364,436
Strategic Hotels & Resorts, Inc. (I) 564,369 7,015,107
Sunstone Hotel Investors, Inc. 321,079 5,352,387
  35,278,024
Industrial REITs - 5.7%
Prologis, Inc. 599,226 26,102,285
Office REITs - 17.8%
Alexandria Real Estate Equities, Inc. 65,222 6,394,365
BioMed Realty Trust, Inc. 270,444 6,128,261

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Real Estate Securities Trust (continued)

Shares or
Principal
      Amount Value
COMMON STOCKS (continued)      
Office REITs (continued)
Boston Properties, Inc. 133,671 $ 18,778,102
Brandywine Realty Trust 306,879 4,903,926
Corporate Office Properties Trust 293,818 8,632,373
Douglas Emmett, Inc. 61,059 1,820,169
DuPont Fabros Technology, Inc. 180,561 5,900,733
Hudson Pacific Properties, Inc. 179,409 5,954,585
Paramount Group, Inc. 465,863 8,991,156
SL Green Realty Corp. 83,745 10,751,183
Vornado Realty Trust 36,069 4,039,728
  82,294,581
Residential REITs - 16.8%
American Campus Communities, Inc. 131,194 5,624,287
American Residential Properties, Inc. (I) 154,835 2,785,482
Associated Estates Realty Corp. 113,861 2,810,089
Camden Property Trust 96,424 7,533,607
Equity Residential 427,373 33,275,262
Essex Property Trust, Inc. 69,670 16,017,133
UDR, Inc. 278,788 9,487,156
77,533,016
Retail REITs - 23.8%
DDR Corp. 511,052 9,515,788
Equity One, Inc. 2,126 56,743
Federal Realty Investment Trust 88,556 13,036,329
General Growth Properties, Inc. 337,248 9,965,678
Kimco Realty Corp. 497,253 13,351,243
Pennsylvania Real Estate Investment Trust 72,423 1,682,386
Regency Centers Corp. 79,937 5,438,913
Simon Property Group, Inc. 198,928 38,918,274
Taubman Centers, Inc. 77,267 5,959,604
The Macerich Company 142,789 12,041,396
109,966,354
Specialized REITs - 6.1%
CubeSmart 372,986 9,007,612
Extra Space Storage, Inc. 153,479 10,370,576
Public Storage 44,917 8,854,937
  28,233,125
TOTAL COMMON STOCKS (Cost $427,043,495) $ 459,671,755
 
SHORT-TERM INVESTMENTS - 0.3%
Repurchase agreement - 0.3%
Repurchase Agreement with State Street Corp.  
       dated 03/31/2015 at 0.000% to be
       repurchased at $1,363,000 on 04/01/2015,  
       collateralized by $1,385,000 Federal Home  
       Loan Mortgage Corp., 1.840% due
       09/18/2019 (valued at $1,391,925,
       including interest) $ 1,363,000 $ 1,363,000
TOTAL SHORT-TERM INVESTMENTS (Cost $1,363,000)     $ 1,363,000
Total Investments (Real Estate Securities Trust)    
       (Cost $428,406,495) - 99.8% $ 461,034,755
Other assets and liabilities, net - 0.2% 964,382
TOTAL NET ASSETS - 100.0% $ 461,999,137

Real Return Bond Trust

Shares or
Principal
      Amount       Value
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS - 98.4%
U.S. Government - 96.3%
Treasury Inflation Protected Securities
       0.125%, 04/15/2016 to 01/15/2023 $ 23,839,982 $ 24,090,726
       0.250%, 01/15/2025 1,578,976 1,591,065
       0.375%, 07/15/2023 903,960 927,194
       0.500%, 04/15/2015 107,859 108,095
       0.625%, 07/15/2021 to 02/15/2043 8,509,203 8,913,237
       0.750%, 02/15/2042 to 02/15/2045 1,851,205 1,880,450
       1.250%, 07/15/2020 536,360 581,447
       1.375%, 01/15/2020 to 02/15/2044 2,860,887 3,357,398
       1.750%, 01/15/2028 8,682,529 10,169,412
       1.875%, 07/15/2015 240,340 244,133
       2.000%, 01/15/2016 2,946,725 3,022,465
       2.000%, 01/15/2026 (D) 471,979 559,516
       2.125%, 01/15/2019 to 02/15/2040 2,289,294 2,545,852
       2.375%, 01/15/2025 to 01/15/2027 20,132,298 24,551,369
       3.875%, 04/15/2029 998,312 1,466,973
U.S. Treasury Bond
       2.500%, 02/15/2045 300,000 297,422
  84,306,754
U.S. Government Agency - 2.1%
Federal National Mortgage Association
       3.000%, 08/01/2043 1,770,461 1,812,765
TOTAL U.S. GOVERNMENT AND AGENCY  
OBLIGATIONS (Cost $88,819,262) $ 86,119,519
 
FOREIGN GOVERNMENT
OBLIGATIONS - 14.8%
Australia - 0.4%
New South Wales Treasury Corp.
       2.500%, 11/20/2035 AUD 300,000 366,517
Canada - 0.3%
Province of Ontario
       3.450%, 06/02/2045 CAD 300,000 267,142
France - 0.8%
Government of France
       0.250%, 07/25/2018 to 07/25/2024 EUR 608,290 700,270
700,270
Germany - 2.6%
Federal Republic of Germany, Inflation
       Linked Bond
       0.750%, 04/15/2018 1,983,809 2,247,254
Greece - 0.2%
Republic of Greece
       4.750%, 04/17/2019 (S) 200,000 142,144
Italy - 3.5%
Republic of Italy
       1.700%, 09/15/2018 397,284 462,302
       2.100%, 09/15/2017 114,182 131,647
       2.250%, 04/22/2017 594,864 667,771
       2.350%, 09/15/2024 (S) 1,026,813 1,348,856
       5.000%, 09/01/2040 200,000 340,854
       5.500%, 11/01/2022 100,000 142,572
  3,094,002
Mexico - 1.6%
Government of Mexico
       3.050%, 01/04/2018 (P) MXN 2,900,000 191,512
       4.000%, 11/15/2040 to 11/08/2046 7,194,924 522,120
       4.500%, 12/04/2025 to 11/22/2035 7,519,149 563,993

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Real Return Bond Trust (continued)

Shares or
  Principal
      Amount       Value
FOREIGN GOVERNMENT
OBLIGATIONS (continued)
Mexico (continued)
Bond, 4.750%, 06/14/2018 MXN 1,787,000 $ 117,214
1,394,839
New Zealand - 0.6%
Dominion of New Zealand, Index
       Linked Bond
       2.000%, 09/20/2025 NZD 600,000 473,953
       3.000%, 09/20/2030 100,000 88,630
562,583
Spain - 2.2%
Autonomous Community of Catalonia
       4.950%, 02/11/2020 EUR 100,000 122,936
Kingdom of Spain  
       0.550%, 11/30/2019 (S) 491,885 554,980
       1.000%, 11/30/2030 (S) 98,108 116,725
       5.400%, 01/31/2023 (S) 800,000 1,144,152
1,938,793
United Kingdom - 2.6%
Government of United Kingdom, Inflation
       Linked Bond
       0.125%, 03/22/2024 GBP 1,369,979 2,253,943
TOTAL FOREIGN GOVERNMENT
OBLIGATIONS (Cost $14,490,463) $ 12,967,487
 
CORPORATE BONDS - 7.7%
Energy - 2.0%
Petrobras Global Finance BV
       2.393%, 01/15/2019 (P) $ 100,000 86,625
       2.630%, 03/17/2017 (P) 700,000 643,930
       4.375%, 05/20/2023 200,000 171,020
Sabine Pass LNG LP
       7.500%, 11/30/2016 800,000 850,000
1,751,575
Financials - 3.7%
Banco Santander SA (6.250% to
       09/11/2021, then 5 Year Euro Swap
       Rate +5.640%)
       09/11/2021 (Q) EUR 200,000 216,125
Bankia SA
       3.500%, 12/14/2015 to 01/17/2019 200,000 227,047
BPE Financiaciones SA
       2.500%, 02/01/2017 100,000 110,099
       2.875%, 05/19/2016 100,000 109,643
Citigroup, Inc.
       0.774%, 05/01/2017 (P) $ 100,000 99,731
Eksportfinans ASA
       2.375%, 05/25/2016 100,000 100,357
Intesa Sanpaolo SpA
       3.125%, 01/15/2016 100,000 101,362
NBG Finance PLC
       4.375%, 04/30/2019 EUR 100,000 68,276
Rabobank Nederland NV
       4.000%, 09/10/2015 GBP 1,300,000 1,954,897
Sberbank of Russia
       4.950%, 02/07/2017 (S) $ 200,000 194,666
  3,182,203
Industrials - 1.0%
Hellenic Railways Organization SA
       4.028%, 03/17/2017 EUR 200,000 148,385
International Lease Finance Corp.
       8.625%, 09/15/2015 700,000 720,125
  868,510
Telecommunication services - 0.9%
BellSouth Corp.
       4.182%, 04/26/2015 (S) 800,000 801,442
Utilities - 0.1%
Electricite de France SA
       0.716%, 01/20/2017 (P)(S) 100,000 100,114
TOTAL CORPORATE BONDS (Cost $7,186,297)   $ 6,703,844
 
COLLATERALIZED MORTGAGE
OBLIGATIONS - 5.3%
Commercial and residential - 4.2%
Banc of America Large Loan, Inc.,
       Series 2009-UB1, Class A4A
       5.592%, 06/24/2050 (P)(S) 232,482 245,225
BCAP LLC Trust
       Series 2011-RR5, Class 12A1,
              4.932%, 03/26/2037 (P)(S) 79,169 77,760
       Series 2011-RR5, Class 5A1,
              5.250%, 08/26/2037 (S) 192,429 199,812
Bear Stearns Adjustable
       Rate Mortgage Trust
       Series 2003-3, Class 3A2,
              2.552%, 05/25/2033 (P) 86,138 86,400
       Series 2005-1, Class 2A1,
              2.641%, 03/25/2035 (P) 36,354 35,306
       Series 2005-1, Class 4A1,
              2.843%, 03/25/2035 (P) 176,464 171,367
CHL Mortgage Pass Through Trust
       Series 2003-HYB3, Class 7A1,
              2.398%, 11/19/2033 (P) 28,901 28,337
       Series 2004-J9, Class 2A5,
              5.500%, 01/25/2035 331,789 337,157
Citigroup Mortgage Loan Trust, Inc.,
       Series 2005-6, Class A3
       1.930%, 09/25/2035 (P) 42,839 41,541
Countrywide Alternative Loan Trust,
       Series 2007-OA4, Class A1
       0.343%, 05/25/2047 (P) 446,452 373,858
Credit Suisse Mortgage Capital
       Certificates, Series 2009-RR1,
       Class A3A 5.383%, 02/15/2040 (S) 73,894 76,654
Granite Mortgages PLC, Series 2004-3,
       Class 3A2 0.945%, 09/20/2044 (P) GBP 50,393 74,544
GreenPoint Mortgage Funding Trust,
       Series 2005-AR1, Class A2
       0.613%, 06/25/2045 (P) $ 285,491 241,998
Grifonas Finance PLC, Series 1, Class A
       0.394%, 08/28/2039 (P) EUR 286,428 213,722
GSR Mortgage Loan Trust,
       Series 2005-AR1, Class 1A1
       2.751%, 01/25/2035 (P) $ 21,433 20,373
IndyMac INDA Mortgage Loan Trust,
       Series 2005-AR1, Class 2A1
       2.750%, 11/25/2035 (P) 63,428 56,806
JPMorgan Mortgage Trust
       Series 2005-A6, Class 2A1,
              2.547%, 08/25/2035 (P) 55,435 54,625
       Series 2007-A1, Class 1A1,
              2.540%, 07/25/2035 (P) 56,277 56,434

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (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
       2.165%, 12/25/2033 (P) $ 92,376 $ 92,697
NCUA Guaranteed Notes Trust  
       Series 2010-R1, Class 1A,
              0.621%, 10/07/2020 (P) 137,382 138,186
       Series 2010-R3, Class 2A,  
              0.735%, 12/08/2020 (P) 200,809 202,684
RBSCF Trust, Series 2010-RR4,
       Class CMLA
       6.028%, 12/16/2049 (P)(S) 89,779 93,816
Sequoia Mortgage Trust, Series 2007-3,
       Class 1A1 0.376%, 07/20/2036 (P) 66,943 62,218
Structured Adjustable Rate
       Mortgage Loan Trust
       Series 2004-1, Class 4A2,
              2.544%, 02/25/2034 (P) 161,274 160,388
       Series 2004-18, Class 5A,
              2.586%, 12/25/2034 (P) 92,683 89,988
       Series 2004-19, Class 2A1,
              1.527%, 01/25/2035 (P) 104,913 84,220
Structured Asset Mortgage
       Investments, Inc., Series 2004-AR5,
       Class 1A1 0.837%, 10/19/2034 (P) 132,380 126,521
WaMu Mortgage Pass-
       Through Certificates
       Series 2002-AR17, Class 1A,
              1.327%, 11/25/2042 (P) 20,389 19,027
       Series 2005-AR10, Class 3A1,
              5.048%, 08/25/2035 (P) 6,891 6,492
       Series 2005-AR15, Class A1A1,
              0.433%, 11/25/2045 (P) 137,348 126,019
       Series 2006-AR17, Class 1A1A,
              0.930%, 12/25/2046 (P) 123,225 115,299
U.S. Government Agency - 1.1%
Federal Home Loan Mortgage Corp.
       Series 278, Class F1,
              0.624%, 09/15/2042 (P) 341,748 343,355
       Series 3172, Class FK,
              0.624%, 08/15/2033 (P) 120,147 120,416
Federal National Mortgage Association
       Series 2003-W8, Class 3F2,
              0.523%, 05/25/2042 (P) 55,627 55,767
       Series 2004-63, Class FA,
              0.323%, 08/25/2034 (P) 85,515 84,858
       Series 2006-118, Class A2,
              0.235%, 12/25/2036 (P) 61,045 60,954
       Series 2013-M4, Class X1 IO,
              3.921%, 02/25/2018 3,089,652 269,201
  934,551
TOTAL COLLATERALIZED MORTGAGE
OBLIGATIONS (Cost $4,772,876) $ 4,644,025
 
ASSET BACKED SECURITIES - 2.9%
Aquilae CLO II PLC, Series 2006-1X,
       Class A 0.401%, 01/17/2023 (P) EUR 47,210 50,553
Equity One Asset Backed Securities, Inc.,
       Series 2004-1, Class AV2
       0.473%, 04/25/2034 (P) $ 83,028 68,386
HSI Asset Securitization Corp. Trust,
       Series 2006-HE1, Class 2A1
       0.223%, 10/25/2036 (P) 5,266 3,098
LCM IX LP, Series 9A, Class A
       1.453%, 07/14/2022 (P)(S) 467,512 467,532
Magi Funding PLC, Series 2010-1A,
       Class A 0.429%, 04/11/2021 (P)(S) EUR 88,276 94,349
North Carolina State Education Assistance
       Authority, Series 2011-2, Class A1
       0.706%, 10/26/2020 (P) $ 25,547 25,571
OneMain Financial Issuance Trust,
       Series 2014-2, Class A
       2.470%, 09/18/2024 (S) 400,000 398,972
Park Place Securities, Inc.,
       Series 2005-WCW1, Class A1B
       0.433%, 09/25/2035 (P) 6,177 6,164
Penta CLO SA, Series 2007-1X, Class A1
       0.398%, 06/04/2024 (P) EUR 139,473 148,867
Structured Asset Securities Corp.,
       Series 2005-WF1, Class M1
       0.833%, 02/25/2035 (P) $ 144,885 133,397
Symphony CLO III, Ltd., Series 2007-3A,
       Class A1A 0.497%, 05/15/2019 (P)(S) 370,935 368,549
United States Small Business
       Administration, Series 2008-P1-A,
       Class 1 5.902%, 02/10/2018 244,704 262,976
Venture VII CDO, Ltd., Series 2006-7A,
       Class A1A 0.486%, 01/20/2022 (P)(S) 476,616 469,645
Wood Street CLO BV, Series II-A,
       Class A1 0.339%, 03/29/2021 (P)(S) EUR 73,838 54,044
TOTAL ASSET BACKED SECURITIES (Cost $2,582,402)     $ 2,552,103
 
COMMON STOCKS - 0.0%
Financials - 0.0%
Rescap Liquidating Trust (I) 440 4,620
TOTAL COMMON STOCKS (Cost $1,386) $ 4,620
 
PURCHASED OPTIONS - 0.2%
Put options - 0.2%
Exchange Traded Option on 5 Year
       U.S. Treasury Note Futures (Expiration
       Date: 05/22/2015; Strike
       Price: $108.50) (I) 31,000 242
Over the Counter Option on 30 Year
       Interest Rate Swap. Receive a fixed rate
       of 2.6825% and pay a floating rate
       based on 3-month LIBOR (Expiration
       Date: 12/11/2017; Strike Rate:
       2.6825%; Counterparty: Morgan
       Stanley & Company, Inc.) (I) 1,000,000 104,238
Over the Counter Option on 30 Year
       Interest Rate Swap. Receive a fixed rate
       of 2.795% and pay a floating rate based
       on 3-month LIBOR (Expiration Date:
       05/29/2015; Strike Rate: 2.795%;
       Counterparty: Deutsche
       Bank Securities) (I) 2,300,000 11,729
116,209

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Real Return Bond Trust (continued)

Shares or
Principal
        Amount       Value
PURCHASED OPTIONS (continued)
Call options - 0.0%
Over the Counter Option on 1 Year
       Interest Rate Swap. Receive a fixed rate
       of 0.800% and pay a floating rate based
       on 3-month LIBOR (Expiration Date:  
       01/19/2016; Strike Rate: 0.800%;
       Counterparty: Morgan Stanley &
       Company, Inc.) (I) 1,500,000 $ 1,770
TOTAL PURCHASED OPTIONS (Cost $176,550)   $ 117,979
 
CERTIFICATE OF DEPOSIT - 4.0%
Banco Bilbao Vizcaya Argentaria SA
       0.975%, 10/23/2015 $ 1,500,000 1,498,824
Banco do Brasil SA
       1.210%, 06/29/2015 900,000 900,066
Banco Itau BBA International SA
       1.000%, 06/04/2015 300,000 299,969
Intesa Sanpaolo SpA
       1.650%, 04/07/2015 800,000 800,023
TOTAL CERTIFICATE OF DEPOSIT (Cost $3,500,344)     $ 3,498,882
 
SHORT-TERM INVESTMENTS - 47.6%
U.S. Government - 0.4%
U.S. Treasury Bills
       0.014%, 05/28/2015 (D)* 46,000 45,997
       0.053%, 06/04/2015 (D)* 296,000 295,991
  341,988
Repurchase agreement - 47.2%
Repurchase Agreement with Bank of
       Nova Scotia dated 03/31/2015 at
       0.250% to be repurchased at $8,600,060
       on 04/01/2015, collateralized by
       $8,785,000 U.S. Treasury Bills, 0.119%
       due 09/24/2015 (valued at $8,779,729,
       including interest) 8,600,000 8,600,000
Repurchase Agreement with Credit Suisse
       dated 03/31/2015 at 0.300% to be
       repurchased at $8,600,072 on
       04/01/2015, collateralized by
       $8,319,000 U.S. Treasury Notes,
       3.125% due 10/31/2016 (valued at
       $8,781,536, including interest) 8,600,000 8,600,000
Repurchase Agreement with Deutsche
       Bank dated 03/31/2015 at 0.200% to be
       repurchased at $8,600,048 on
       04/01/2015, collateralized by
       $7,417,000 U.S. Treasury Bonds,
       3.375% due 05/15/2044 (valued at
       $8,811,396, including interest). 8,600,000 8,600,000
Repurchase Agreement with JPMorgan
       Chase & Co. dated 03/31/2015 at
       0.300% to be repurchased at $8,600,072
       on 04/01/2015, collateralized by
       $8,769,000 U.S. Treasury Notes,
       0.375% due 04/30/2016 (valued at
       $8,789,169, including interest) 8,600,000 8,600,000
Repurchase Agreement with State
       Street Corp. dated 03/31/2015 at
       0.000% to be repurchased at $101,000
       on 04/01/2015, collateralized by
       $100,000 U.S. Treasury Notes, 2.250%
       due 04/30/2021 (valued at $104,630,
       including interest) 101,000 101,000
Repurchase Agreement with Toronto-
       Dominion Bank dated 03/31/2015 at
       0.280% to be repurchased at $6,800,053  
       on 04/01/2015, collateralized by
       $6,755,000 U.S. Treasury Notes,
       2.125% due 06/30/2021 (valued at
       $6,993,452, including interest)   6,800,000   6,800,000
  41,301,000
TOTAL SHORT-TERM INVESTMENTS (Cost $41,642,991)     $ 41,642,988
Total Investments (Real Return Bond Trust)  
       (Cost $163,172,571) - 180.9% $ 158,251,447
Other assets and liabilities, net - (80.9%)   (70,752,258 )
TOTAL NET ASSETS - 100.0% $ 87,499,189
 
Science & Technology Trust
 
Shares or
Principal
Amount Value
COMMON STOCKS - 95.2%
Consumer discretionary - 14.8%
Automobiles - 1.2%
Tesla Motors, Inc. (I)(L) 32,970 $ 6,223,742
Household durables - 0.5%
iRobot Corp. (I)(L) 73,300 2,391,779
Internet and catalog retail - 11.7%
Amazon.com, Inc. (I) 68,395 25,449,780
Ctrip.com International, Ltd., ADR (I) 35,300 2,069,286
Expedia, Inc. 16,920 1,592,680
Flipkart Limited (I)(R) 490 55,748
JD.com, Inc., ADR (I) 17,395 511,065
Netflix, Inc. (I) 560 233,346
The Priceline Group, Inc. (I) 15,985 18,608,938
Vipshop Holdings, Ltd., ADR (I) 360,010 10,598,694
  59,119,537
Media - 1.4%
Liberty Global PLC, Series C (I) 104,000 5,180,240
Twenty-First Century Fox, Inc., Class A 46,200 1,563,408
  6,743,648
  74,478,706
Health care - 3.0%
Biotechnology - 0.3%
Grifols SA, ADR 48,900 1,604,409
Health care equipment and supplies - 0.7%  
Intuitive Surgical, Inc. (I) 7,100 3,585,713
Health care technology - 0.8%
Veeva Systems, Inc., Class A (I) 158,400 4,043,952
Life sciences tools and services - 0.4%
Agilent Technologies, Inc. 52,800 2,193,840
Pharmaceuticals - 0.8%
Hospira, Inc. (I) 42,800 3,759,552
  15,187,466

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Science & Technology Trust (continued)

Shares or
  Principal
      Amount       Value
COMMON STOCKS (continued)
Industrials - 1.1%
Aerospace and defense - 0.6%
The Boeing Company 19,000 $ 2,851,520
Electrical equipment - 0.5%
Nidec Corp. 40,100 2,661,906
5,513,426
Information technology - 73.1%
Communications equipment - 4.2%
Alcatel-Lucent (I) 236,715 889,920
Alcatel-Lucent, ADR (I) 205,415 766,198
Aruba Networks, Inc. (I) 80,300 1,966,547
Cisco Systems, Inc. 239,960 6,604,899
JDS Uniphase Corp. (I) 113,100 1,483,872
Palo Alto Networks, Inc. (I) 63,870 9,330,130
QUALCOMM, Inc. 3,530 244,770
21,286,336
Electronic equipment, instruments and components - 3.7%    
CDW Corp. 104,385 3,887,297
Control4 Corp. (I)(L) 32,300 386,954
Corning, Inc. 88,785 2,013,644
Flextronics International, Ltd. (I) 190,225 2,411,102
IPG Photonics Corp. (I)(L) 13,300 1,232,910
Keyence Corp. 600 327,418
Murata Manufacturing Company, Ltd. 8,500 1,167,383
National Instruments Corp. 45,500 1,457,820
RealD, Inc. (I) 192,900 2,467,191
Trimble Navigation, Ltd. (I) 135,200 3,407,040
18,758,759
Internet software and services - 19.1%
Akamai Technologies, Inc. (I) 20,035 1,423,387
Alibaba Group Holding, Ltd., ADR (I) 81,350 6,771,574
Angie’s List, Inc. (I)(L) 165,016 968,644
Baidu, Inc., ADR (I) 36,650 7,637,860
Coupons.com, Inc. (I)(L) 38,522 452,248
Criteo SA, ADR (I) 40,693 1,607,374
Dealertrack Technologies, Inc. (I) 107,000 4,121,640
Dropbox, Inc. (I)(R) 7,441 131,855
eBay, Inc. (I) 80,670 4,653,046
Facebook, Inc., Class A (I) 191,080 15,709,642
Google, Inc., Class A (I) 16,520 9,163,644
Google, Inc., Class C (I) 16,100 8,822,800
GrubHub, Inc. (I)(L) 13,902 631,012
HomeAway, Inc. (I) 63,300 1,909,761
LinkedIn Corp., Class A (I) 28,955 7,234,696
MercadoLibre, Inc. (L) 19,200 2,352,384
NAVER Corp. 798 481,436
NetEase, Inc., ADR 18,935 1,993,856
OPOWER, Inc. (I)(L) 3,000 30,390
Rackspace Hosting, Inc. (I) 52,765 2,722,146
SINA Corp. (I) 49,600 1,595,136
Tencent Holdings, Ltd. 463,100 8,794,225
Twitter, Inc. (I) 37,365 1,871,239
VeriSign, Inc. (I)(L) 38,300 2,564,951
Yandex NV, Class A (I) 178,400 2,705,436
Youku Tudou, Inc., Class A (I) 10 7
96,350,389
IT services - 5.6%
Accenture PLC, Class A 26,600 2,492,154
Alliance Data Systems Corp. (I) 1,730 512,513
Amadeus IT Holding SA, A Shares 29,945 1,283,356
AtoS 9,790 673,906
Cognizant Technology
       Solutions Corp., Class A (I) 79,490   4,959,381
Computer Sciences Corp. 35,185 2,296,877
Fidelity National Information Services, Inc. 34,395 2,340,924
Fiserv, Inc. (I) 32,110 2,549,534
MasterCard, Inc., Class A 33,555 2,898,816
Visa, Inc., Class A 119,820 7,837,426
27,844,887
Semiconductors and semiconductor equipment - 11.2%
Altera Corp. 136,000 5,835,760
Applied Materials, Inc. 74,400 1,678,464
ARM Holdings PLC, ADR 38,200 1,883,260
ASML Holding NV 13,300 1,343,699
Atmel Corp. 311,100 2,560,353
Avago Technologies, Ltd. 64,323 8,167,735
Broadcom Corp., Class A 95,565 4,137,487
Intel Corp. 83,410 2,608,231
Lam Research Corp. 59,565 4,183,548
Micron Technology, Inc. (I) 94,935 2,575,587
NXP Semiconductors NV (I) 59,900 6,011,564
Qorvo, Inc. (I) 8,816 702,635
Semtech Corp. (I) 34,200 911,259
SK Hynix, Inc. 109,141 4,458,041
Skyworks Solutions, Inc. 91,975 9,040,223
STR Holdings, Inc. 65,100 93,093
Taiwan Semiconductor
       Manufacturing Company, Ltd. 44,000 204,493
Taiwan Semiconductor Manufacturing
       Company, Ltd., ADR 4,280 100,494
56,495,926
Software - 17.0%
Adobe Systems, Inc. (I) 51,580 3,813,825
Aspen Technology, Inc. (I) 8,370 322,161
Atlassian, Inc. (I)(R) 2,771 57,360
Atlassian, Inc., Class A (I)(R) 1,909 39,516
Atlassian, Inc., Class A Ordinary (I)(R) 9,968 206,338
Atlassian, Inc., Series 1 (I)(R) 4,864 100,685
Atlassian, Inc., Series 2 (I)(R) 13,022 269,555
Atlassian, Inc., Series A (I)(R) 9,630 199,341
Autodesk, Inc. (I) 127,666 7,486,334
Check Point Software Technologies, Ltd. (I) 29,985 2,457,870
FireEye, Inc. (I)(L) 59,925 2,352,056
Fleetmatics Group PLC (I)(L) 27,700 1,242,345
Fortinet, Inc. (I) 62,510 2,184,725
Informatica Corp. (I) 38,001 1,666,534
Interactive Intelligence Group, Inc. (I) 35,700 1,470,126
Intuit, Inc. 52,460 5,086,522
Microsoft Corp. 373,015 15,164,925
Nintendo Company, Ltd. 9,500 1,393,886
Oracle Corp. 131,990 5,695,369
Red Hat, Inc. (I) 130,600 9,892,950
salesforce.com, Inc. (I) 128,480 8,583,749
ServiceNow, Inc. (I) 126,870 9,994,819
Splunk, Inc. (I) 28,450 1,684,240
Tableau Software, Inc., Class A (I) 42,490 3,931,175
85,296,406
Technology hardware, storage and peripherals - 12.3%
Apple, Inc. 200,800 24,985,544
Dell, Inc. (I) 458,900 6,849,011
NEC Corp. 17,000 49,936
Samsung Electronics Company, Ltd. 3,005 3,896,743

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Science & Technology Trust (continued)

Shares or
Principal
      Amount       Value
COMMON STOCKS (continued)
Technology hardware, storage and peripherals (continued)  
SanDisk Corp. 134,200 $ 8,537,804
Seagate Technology PLC 82,900 4,313,287
Stratasys, Ltd. (I)(L) 76,400 4,032,392
Western Digital Corp. 102,240 9,304,862
61,969,579
368,002,282
Telecommunication services - 3.2%
Wireless telecommunication services - 3.2%
SoftBank Corp. 182,800 10,646,161
T-Mobile US, Inc. (I) 179,600 5,691,524
16,337,685
16,337,685
TOTAL COMMON STOCKS (Cost $418,945,930) $ 479,519,565
 
PREFERRED SECURITIES - 0.5%  
Consumer discretionary - 0.1%
Internet and catalog retail - 0.1%
Flipkart Limited, Series A (I)(R) 168 19,114
Flipkart Limited, Series C (I)(R) 295 33,563
Flipkart Limited, Series E (I)(R) 549 62,461
Flipkart Limited, Series G (I)(R) 3,152 377,484
492,622
492,622
Information technology - 0.4%
Internet software and services - 0.3%
Dropbox, Inc., Series A (I)(R) 9,241 163,751
Dropbox, Inc., Series A1 (I)(R) 89,006 1,577,186
1,740,937
Software - 0.1%
Cloudera, Inc., Series F (I)(R) 21,227 656,339
2,397,276
TOTAL PREFERRED SECURITIES (Cost $1,690,964)   $ 2,889,898
 
SECURITIES LENDING COLLATERAL - 3.6%
John Hancock
       Collateral Trust, 0.1102% (W)(Y) 1,816,139 18,170,475
TOTAL SECURITIES LENDING
COLLATERAL (Cost $18,170,624) $ 18,170,475
 
SHORT-TERM INVESTMENTS - 3.9%
Money market funds - 3.0%
State Street Institutional U.S. Government
       Money Market Fund, 0.0000% (Y) 855,467 855,467
T.Rowe Price Prime Reserve
       Fund, 0.0384% (Y) 14,257,082 14,257,082
15,112,549
Repurchase agreement - 0.9%
Repurchase Agreement with State Street Corp.
       dated 03/31/2015 at 0.000% to be
       repurchased at $4,427,000 on 04/01/2015,
       collateralized by $4,495,000 Federal Home
       Loan Mortgage Corp., 1.840% due
       09/18/2019 (valued at $4,517,475,
       including interest)   4,427,000   4,427,000
TOTAL SHORT-TERM INVESTMENTS (Cost $19,539,549)     $ 19,539,549
Total Investments (Science & Technology Trust)
       (Cost $458,347,067) - 103.2% $ 520,119,487
Other assets and liabilities, net - (3.2%) (16,311,845 )
TOTAL NET ASSETS - 100.0% $ 503,807,642

Short Term Government Income Trust

Shares or
Principal
      Amount       Value
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS - 93.0%
U.S. Government - 19.0%
Treasury Inflation Protected Securities
       0.125%, 04/15/2018 $ 3,336,861 $ 3,404,903
U.S. Treasury Notes
       0.625%, 08/31/2017 to 04/30/2018 8,160,000 8,124,442
       0.750%, 06/30/2017 to 03/31/2018 20,120,000 20,121,026
       0.875%, 02/28/2017 to 01/31/2018 42,345,000 42,518,211
74,168,582
U.S. Government Agency - 74.0%  
Federal Agricultural Mortgage Corp.
       2.000%, 07/27/2016 20,949,000 21,350,090
       5.125%, 04/19/2017 (S) 38,823,000 42,105,951
Federal Farm Credit Bank
       0.900%, 12/26/2017 3,890,000 3,879,867
       0.970%, 09/05/2017 5,090,000 5,090,489
       1.240%, 11/13/2018 18,275,000 18,237,207
       1.480%, 01/22/2019 6,215,000 6,228,120
       1.540%, 04/01/2019 7,455,000 7,449,416
       1.990%, 12/26/2019 2,190,000 2,190,436
Federal Home Loan Bank
       1.000%, 09/18/2017 to 10/16/2017 16,555,000 16,549,148
       1.130%, 03/27/2018 9,000,000 8,948,043
       1.150%, 07/25/2018 9,910,000 9,879,249
       1.400%, 03/26/2018 12,435,000 12,457,843
Federal Home Loan Mortgage Corp.
       1.000%, 04/07/2017 2,300,000 2,300,271
       1.100%, 05/07/2018 9,395,000 9,335,718
       1.200%, 03/20/2018 4,415,000 4,422,991
       1.300%, 11/27/2017 14,055,000 14,075,998
       2.221%, 09/01/2042 (P) 1,374,417 1,424,970
       2.340%, 09/01/2039 (P) 562,260 601,267
       2.621%, 01/01/2044 (P) 2,916,011 3,030,534
       3.009%, 03/01/2044 (P) 1,492,111 1,559,107
       5.500%, 07/01/2037 to 07/01/2040 5,530,030 6,256,502
       6.500%, 09/01/2039 622,177 711,970
       7.000%, 04/01/2018 to 04/01/2032 4,452 4,896
       12.000%, 07/01/2020 9 9
Federal National Mortgage Association
       0.625%, 11/14/2016 3,360,000 3,359,469

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (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)
       1.000%, 12/12/2017 to 12/28/2017 $ 13,630,000 $ 13,577,363
       2.342%, 09/01/2041 (P) 3,164,087 3,383,595
       2.400%, 04/01/2042 (P) 3,097,346 3,211,529
       2.487%, 02/01/2042 (P) 5,043,431 5,247,499
       2.500%, 10/01/2027 3,448,029 3,556,184
       2.908%, 03/01/2044 (P) 1,427,203 1,488,323
       3.500%, 12/01/2025 2,151,913 2,285,487
       5.500%, 03/01/2035 to 08/01/2040 4,424,325 5,005,602
       6.000%, 10/01/2036 to 03/01/2037 918,844 1,059,035
       6.500%, 06/01/2029 to 01/01/2039 5,364,176 6,178,216
       7.000%, 08/01/2025 to 01/01/2029 3,482 4,071
       7.500%, 01/01/2031 702 851
       8.000%, 11/01/2020 to 01/01/2031 2,446 2,873
       11.500%, 09/01/2019 179 183
       12.000%, 01/15/2016 to 04/20/2016 596 601
       12.500%, 09/20/2015 8 8
Government National Mortgage Association
       7.500%, 02/15/2022 to 03/15/2027 792 929
Tennessee Valley Authority
       1.750%, 10/15/2018 6,485,000 6,606,808
       3.875%, 02/15/2021 13,050,000 14,571,995
       4.500%, 04/01/2018 10,349,000 11,399,392
       5.500%, 07/18/2017 8,613,000 9,506,926
288,537,031
TOTAL U.S. GOVERNMENT AND AGENCY
OBLIGATIONS (Cost $360,253,530) $ 362,705,613
 
COLLATERALIZED MORTGAGE
OBLIGATIONS - 5.3%
U.S. Government Agency - 5.3%
Federal Home Loan Mortgage Corp.
       Series 3499, Class PA, 4.500%, 08/15/2036 141,564 146,380
       Series K017, Class X1 IO,
              1.429%, 12/25/2021 5,553,314 426,389
       Series K018, Class X1 IO,
              1.439%, 01/25/2022 4,806,192 371,749
       Series K022, Class X1 IO,
              1.297%, 07/25/2022 11,562,475 856,629
       Series K026, Class X1 IO,
              1.047%, 11/25/2022 5,818,226 374,735
       Series K038, Class X1 IO,
              1.200%, 03/25/2024 8,796,775 752,678
       Series K704, Class X1 IO,
              1.996%, 08/25/2018 18,429,587 1,049,160
       Series K706, Class X1 IO,
              1.575%, 10/25/2018 6,030,743 297,774
       Series K707, Class X1 IO,
              1.547%, 12/25/2018 4,955,689 247,145
       Series K709, Class X1 IO,
              1.535%, 03/25/2019 6,591,147 347,030
       Series K710, Class X1 IO,
              1.777%, 05/25/2019 5,213,955 325,685
       Series K711, Class X1 IO,
              1.705%, 07/25/2019 7,823,365 475,402
Federal National Mortgage Association
       Series 2013-100, Class CA,
              4.000%, 03/25/2039 4,643,507 4,990,957
       Series 2014-28, Class BD,
              3.500%, 08/25/2043 8,400,464 8,912,884
       Series 2003-W14, Class 2A,
              3.479%, 01/25/2043 (P) 748,967 761,994
Government National Mortgage Association,
       Series 2012-114, Class IO
       0.971%, 01/16/2053 3,680,438 295,616
20,632,207
TOTAL COLLATERALIZED MORTGAGE
OBLIGATIONS (Cost $20,231,890) $ 20,632,207
 
SHORT-TERM INVESTMENTS - 2.2%
Repurchase agreement - 2.2%
Barclays Tri-Party Repurchase Agreement
       dated 03/31/2015 at 0.130% to be
       repurchased at $5,150,019 on 04/01/2015,
       collateralized by $5,308,300 U.S. Treasury
       Inflation Indexed Notes, 0.250% due
       01/15/2025 (valued at $5,253,114,
       including interest) 5,150,000 5,150,000
Repurchase Agreement with State Street Corp.
       dated 03/31/2015 at 0.000% to be
       repurchased at $3,364,000 on 04/01/2015,
       collateralized by $3,110,000 U.S. Treasury
       Notes, 3.625% due 08/15/2019 (valued at
       $3,432,818, including interest) 3,364,000 3,364,000
8,514,000
TOTAL SHORT-TERM INVESTMENTS (Cost $8,514,000) $ 8,514,000
Total Investments (Short Term Government Income Trust)
       (Cost $388,999,420) - 100.5% $ 391,851,820
Other assets and liabilities, net - (0.5%) (1,862,321 )
TOTAL NET ASSETS - 100.0% $ 389,989,499

Small Cap Growth Trust

Shares or
Principal
Amount		       Value
COMMON STOCKS - 96.0%
Consumer discretionary - 12.2%
Auto components - 0.5%
Gentherm, Inc. (I) 47,163 $ 2,382,192
Hotels, restaurants and leisure - 4.0%
Buffalo Wild Wings, Inc. (I) 12,779 2,316,066
Diamond Resorts International, Inc. (I) 320,691 10,720,700
Jack in the Box, Inc. 21,504 2,062,664
Panera Bread Company, Class A (I) 25,240 4,038,274
Red Robin Gourmet Burgers, Inc. (I) 16,421 1,428,627
20,566,331
Household durables - 1.1%
GoPro, Inc., Class A (I)(L) 132,228 5,740,017
Internet and catalog retail - 0.1%
Wayfair, Inc., Class A (I)(L) 10,300 330,836
Media - 2.3%
IMAX Corp. (I) 241,519 8,141,605

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Small Cap Growth Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
Media (continued)
Markit, Ltd. (I) 132,100 $ 3,553,490
11,695,095
Multiline retail - 0.6%
Tuesday Morning Corp. (I) 183,804 2,959,244
Specialty retail - 0.9%
CST Brands, Inc. 104,654 4,586,985
Textiles, apparel and luxury goods - 2.7%
Kate Spade & Company (I) 152,133 5,079,721
Samsonite International SA 1,026,300 3,571,216
Skechers U.S.A., Inc., Class A (I) 46,692 3,357,622
Vince Holding Corp. (I) 85,081 1,578,253
13,586,812
61,847,512
Consumer staples - 0.6%
Food products - 0.6%
SunOpta, Inc. (I) 269,795 2,865,223
Energy - 1.9%
Oil, gas and consumable fuels - 1.9%
Diamondback Energy, Inc. (I) 80,807 6,209,210
RSP Permian, Inc. (I)(L) 128,274 3,231,222
9,440,432
Financials - 8.0%
Banks - 1.3%
PacWest Bancorp 138,618 6,499,798
Capital markets - 2.5%
Financial Engines, Inc. (L) 48,759 2,039,589
HFF, Inc., Class A 174,525 6,551,669
WisdomTree Investments, Inc. 176,715 3,792,304
12,383,562
Diversified financial services - 0.0%
WL Ross Holding Corp. (I) 8,000 84,080
Insurance - 0.7%
Assured Guaranty, Ltd. 135,021 3,563,204
Real estate investment trusts - 2.3%
Paramount Group, Inc. 343,236 6,624,455
Pebblebrook Hotel Trust 109,943 5,120,046
11,744,501
Real estate management and development - 1.2%
Kennedy-Wilson Holdings, Inc. 240,830 6,295,296
40,570,441
Health care - 21.5%
Biotechnology - 9.5%
Achillion Pharmaceuticals, Inc. (I) 154,896 1,527,275
Agios Pharmaceuticals, Inc. (I)(L) 32,590 3,073,237
Alnylam Pharmaceuticals, Inc. (I) 25,625 2,675,763
Anacor Pharmaceuticals, Inc. (I) 83,897 4,853,441
BioCryst Pharmaceuticals, Inc. (I)(L) 202,370 1,827,401
Cepheid, Inc. (I) 46,224 2,630,146
Ironwood Pharmaceuticals, Inc. (I) 158,095 2,529,520
Isis Pharmaceuticals, Inc. (I) 49,715 3,165,354
Novavax, Inc. (I) 287,700 2,379,279
Otonomy, Inc. (I) 56,739 2,006,291
Portola Pharmaceuticals, Inc. (I) 142,209 5,398,254
PTC Therapeutics, Inc. (I) 63,953 3,891,540
Puma Biotechnology, Inc. (I) 8,620 2,035,268
Regulus Therapeutics, Inc. (I)(L) 109,314 1,851,779
Synageva BioPharma Corp. (I) 25,200 2,457,756
TESARO, Inc. (I)(L) 99,115 5,689,201
47,991,505
Health care equipment and supplies - 5.9%
Cardiovascular Systems, Inc. (I) 41,651 1,626,055
DexCom, Inc. (I) 124,521 7,762,639
Endologix, Inc. (I)(L) 182,750 3,119,543
HeartWare International, Inc. (I)(L) 78,261 6,868,968
Insulet Corp. (I) 230,648 7,692,111
LDR Holding Corp. (I) 78,476 2,875,361
29,944,677
Health care providers and services - 3.1%
Acadia Healthcare Company, Inc. (I) 120,433 8,623,003
Envision Healthcare Holdings, Inc. (I) 168,853 6,475,513
ExamWorks Group, Inc. (I) 10,572 440,007
15,538,523
Health care technology - 1.3%
Veeva Systems, Inc., Class A (I)(L) 254,192 6,489,522
Pharmaceuticals - 1.7%
Aerie Pharmaceuticals, Inc. (I) 83,647 2,621,497
Intersect ENT, Inc. (I) 61,700 1,593,711
Relypsa, Inc. (I) 65,282 2,354,722
Tetraphase Pharmaceuticals, Inc. (I) 59,610 2,184,110
8,754,040
108,718,267
Industrials - 20.7%
Aerospace and defense - 3.0%
Astronics Corp. (I) 50,720 3,738,064
DigitalGlobe, Inc. (I) 179,009 6,098,837
Moog, Inc., Class A (I) 26,512 1,989,726
Teledyne Technologies, Inc. (I) 30,424 3,247,154
15,073,781
Air freight and logistics - 0.5%
XPO Logistics, Inc. (I)(L) 58,278 2,649,901
Airlines - 0.7%
Spirit Airlines, Inc. (I) 46,789 3,619,597
Building products - 3.1%
Advanced Drainage Systems, Inc. 74,313 2,224,931
Masonite International Corp. (I) 121,709 8,186,147
Owens Corning 124,132 5,387,329
15,798,407
Construction and engineering - 0.8%
AECOM (I) 129,972 4,005,737
Electrical equipment - 2.8%
Acuity Brands, Inc. 44,037 7,405,262
Generac Holdings, Inc. (I)(L) 140,775 6,854,335
14,259,597
Machinery - 1.6%
Altra Industrial Motion Corp. 147,433 4,075,048
Watts Water Technologies, Inc., Class A 72,487 3,988,960
8,064,008
Professional services - 2.3%
TriNet Group, Inc. (I) 223,392 7,870,100
WageWorks, Inc. (I) 70,405 3,754,699
11,624,799

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Small Cap Growth Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
Road and rail - 3.9%
Landstar System, Inc. 108,093 $ 7,166,566
Old Dominion Freight Line, Inc. (I) 73,642 5,692,527
Swift Transportation Company (I) 260,841 6,787,083
19,646,176
Trading companies and distributors - 2.0%
Applied Industrial Technologies, Inc. 85,365 3,870,449
HD Supply Holdings, Inc. (I) 197,850 6,164,017
10,034,466
104,776,469
Information technology - 25.2%
Communications equipment - 0.9%
Arista Networks, Inc. (I)(L) 67,035 4,727,979
Electronic equipment, instruments and components - 0.7%
Cognex Corp. (I) 72,595 3,599,986
Internet software and services - 7.9%
Constant Contact, Inc. (I) 139,272 5,321,583
CoStar Group, Inc. (I) 45,803 9,061,207
Demandware, Inc. (I) 33,108 2,016,277
Envestnet, Inc. (I) 67,392 3,779,343
Marketo, Inc. (I)(L) 153,729 3,938,537
Shutterstock, Inc. (I)(L) 83,422 5,728,589
TrueCar, Inc. (I)(L) 193,389 3,451,994
Zillow Group, Inc., Class A (I)(L) 64,067 6,425,920
39,723,450
IT services - 5.3%
Heartland Payment Systems, Inc. 64,845 3,037,988
MAXIMUS, Inc. 63,560 4,243,266
Virtusa Corp. (I) 168,505 6,972,737
WEX, Inc. (I) 50,171 5,386,359
WNS Holdings, Ltd., ADR (I) 299,941 7,294,565
26,934,915
Semiconductors and semiconductor equipment - 4.8%
Ambarella, Inc. (I)(L) 50,820 3,847,582
Mellanox Technologies, Ltd. (I)(L) 96,422 4,371,773
Power Integrations, Inc. 77,847 4,054,272
SunEdison Semiconductor, Ltd. (I) 97,100 2,507,122
SunEdison, Inc. (I)(L) 252,918 6,070,032
SunPower Corp. (I)(L) 117,396 3,675,669
24,526,450
Software - 5.2%
Fleetmatics Group PLC (I)(L) 133,487 5,986,892
HubSpot, Inc. (I)(L) 103,625 4,134,638
Telogis, Inc. (I)(R) 473,646 606,267
Tyler Technologies, Inc. (I) 69,369 8,361,046
Verint Systems, Inc. (I) 104,591 6,477,321
Zendesk, Inc. (I) 34,500 782,805
26,348,969
Technology hardware, storage and peripherals - 0.4%
Nimble Storage, Inc. (I)(L) 88,294 1,969,839
127,831,588
Materials - 5.9%
Chemicals - 1.7%
Platform Specialty Products Corp. (I) 336,741 8,640,775
Construction materials - 1.7%
Headwaters, Inc. (I) 469,499 8,610,612
Containers and packaging - 1.7%
Graphic Packaging Holding Company 578,018 8,404,382
Paper and forest products - 0.8%
KapStone Paper and Packaging Corp. 129,400 4,249,496
29,905,265
TOTAL COMMON STOCKS (Cost $412,958,597) $ 485,955,197
 
INVESTMENT COMPANIES - 0.6%
iShares Russell 2000 Growth ETF (L) 22,103 3,349,710
TOTAL INVESTMENT COMPANIES (Cost $3,151,654) $ 3,349,710
 
PREFERRED SECURITIES - 2.8%
Information technology - 2.8%
Apigee Corp., Series H (I)(R) 628,505 2,463,740
Cloudera, Inc., Series F (I)(R) 79,228 2,449,730
DocuSign, Inc., Series B (I)(R) 2,936 44,099
DocuSign, Inc., Series B1 (I)(R) 880 13,218
DocuSign, Inc., Series D (I)(R) 2,110 31,692
DocuSign, Inc., Series E (I)(R) 54,573 819,686
Nutanix, Inc. (I)(R) 87,010 1,361,707
Pure Storage, Inc., Series F (I)(R) 88,922 1,576,587
Telogis, Inc. (I)(R) 645,027 2,173,741
Veracode, Inc. (I)(R) 65,609 1,797,031
Zuora, Inc., Series F (I)(R) 403,708 1,533,808
14,265,039
TOTAL PREFERRED SECURITIES (Cost $10,506,184) $ 14,265,039
 
SECURITIES LENDING COLLATERAL - 13.0%
John Hancock
       Collateral Trust, 0.1102% (W)(Y) 6,561,044 65,643,240
TOTAL SECURITIES LENDING
COLLATERAL (Cost $65,644,910) $ 65,643,240
Total Investments (Small Cap Growth Trust)
       (Cost $492,261,345) - 112.4% $ 569,213,186
Other assets and liabilities, net - (12.4%) (62,850,345 )
TOTAL NET ASSETS - 100.0% $ 506,362,841

Small Cap Index Trust

Shares or
Principal
Amount		       Value
COMMON STOCKS - 97.3%
Consumer discretionary - 13.6%
Auto components - 1.2%
American Axle &
       Manufacturing Holdings, Inc. (I) 16,613 $ 429,102
Cooper Tire & Rubber Company 14,098 603,958
Cooper-Standard Holding, Inc. (I) 3,455 204,536
Dana Holding Corp. 41,389 875,791
Dorman Products, Inc. (I)(L) 6,768 336,708
Drew Industries, Inc. 5,948 366,040
Federal-Mogul Holdings Corp. (I) 7,288 97,003
Fox Factory Holding Corp. (I) 2,751 42,200
Gentherm, Inc. (I) 8,840 446,508
Modine Manufacturing Company (I) 11,907 160,387
Motorcar Parts of America, Inc. (I) 4,647 129,140
Remy International, Inc. (I) 7,992 177,502

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Small Cap Index Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
Auto components (continued)
Shiloh Industries, Inc. (I) 2,231 $ 31,323
Spartan Motors, Inc. 8,640 41,904
Standard Motor Products, Inc. 4,847 204,834
Stoneridge, Inc. (I) 7,541 85,138
Strattec Security Corp. 867 64,019
Superior Industries International, Inc. 5,894 111,573
Tenneco, Inc. (I) 15,095 866,755
Tower International, Inc. (I) 5,175 137,655
5,412,076
Automobiles - 0.0%
Winnebago Industries, Inc. 6,889 146,460
Distributors - 0.3%
Core-Mark Holding Company, Inc. 5,760 370,483
Pool Corp. 11,274 786,474
VOXX International Corp. (I) 6,081 55,702
Weyco Group, Inc. 1,601 47,870
1,260,529
Diversified consumer services - 0.9%
2U, Inc. (I) 2,514 64,308
American Public Education, Inc. (I) 4,274 128,135
Ascent Capital Group, Inc., Class A (I) 3,637 144,789
Bridgepoint Education, Inc. (I) 4,191 40,443
Bright Horizons Family Solutions, Inc. (I) 7,530 386,063
Capella Education Company 2,726 176,863
Career Education Corp. (I) 17,224 86,637
Carriage Services, Inc. 4,593 109,635
Chegg, Inc. (I)(L) 19,819 157,561
Collectors Universe, Inc. 1,723 38,871
Education Management Corp. (I) 5,432 1,304
Grand Canyon Education, Inc. (I) 11,601 502,323
Houghton Mifflin Harcourt Company (I) 27,019 634,406
ITT Educational Services, Inc. (I)(L) 5,863 39,810
K12, Inc. (I) 8,595 135,113
Liberty Tax, Inc. (I) 956 26,605
LifeLock, Inc. (I) 19,911 280,944
Regis Corp. (I) 11,067 181,056
Sotheby’s 15,055 636,224
Steiner Leisure, Ltd. (I) 3,668 173,863
Strayer Education, Inc. (I) 2,707 144,581
Universal Technical Institute, Inc. 5,855 56,208
Weight Watchers International, Inc. (L)(I) 6,887 48,140
4,193,882
Hotels, restaurants and leisure - 3.2%
Belmond, Ltd., Class A (I) 24,212 297,323
Biglari Holdings, Inc. (I) 433 179,305
BJ’s Restaurants, Inc. (I) 5,474 276,163
Bloomin’ Brands, Inc. 19,122 465,238
Bob Evans Farms, Inc. 6,189 286,303
Boyd Gaming Corp. (I) 19,346 274,713
Bravo Brio Restaurant Group, Inc. (I) 6,456 94,839
Buffalo Wild Wings, Inc. (I) 4,673 846,935
Caesars Acquisition Company, Class A (I) 11,487 78,112
Caesars Entertainment Corp. (I)(L) 12,917 136,016
Carrols Restaurant Group, Inc. (I) 11,907 98,709
Churchill Downs, Inc. 3,368 387,219
Chuy’s Holdings, Inc. (I) 4,314 97,194
ClubCorp Holdings, Inc. 5,497 106,422
Cracker Barrel Old Country Store, Inc. 4,690 713,537
Del Frisco’s Restaurant Group, Inc. (I) 5,953 119,953
Denny’s Corp. (I) 21,896 249,614
Diamond Resorts International, Inc. (I) 8,707 291,075
DineEquity, Inc. 4,170 446,232
El Pollo Loco Holdings, Inc. (I)(L) 2,160 55,318
Fiesta Restaurant Group, Inc. (I) 6,712 409,432
International Speedway Corp., Class A 6,981 227,650
Interval Leisure Group, Inc. 9,859 258,404
Intrawest Resorts Holdings, Inc. (I) 4,084 35,612
Isle of Capri Casinos, Inc. (I) 6,383 89,681
Jack in the Box, Inc. 9,888 948,457
Jamba, Inc. (I)(L) 4,741 69,740
Krispy Kreme Doughnuts, Inc. (I) 16,353 326,896
La Quinta Holdings, Inc. (I) 10,716 253,755
Life Time Fitness, Inc. (I) 10,146 719,960
Marriott Vacations Worldwide Corp. 6,498 526,663
Monarch Casino & Resort, Inc. (I) 2,399 45,917
Morgans Hotel Group Company (I) 9,349 72,455
Nathan’s Famous, Inc. 788 42,670
Noodles & Company (I)(L) 2,819 49,163
Papa John’s International, Inc. 7,671 474,145
Penn National Gaming, Inc. (I) 19,598 306,905
Pinnacle Entertainment, Inc. (I) 14,942 539,257
Popeyes Louisiana Kitchen, Inc. (I) 5,956 356,288
Potbelly Corp. (I) 4,573 62,650
Red Robin Gourmet Burgers, Inc. (I) 3,585 311,895
Ruby Tuesday, Inc. (I) 15,363 92,332
Ruth’s Hospitality Group, Inc. 9,045 143,635
Scientific Games Corp., Class A (I)(L) 12,718 133,157
Sonic Corp. 13,616 431,627
Speedway Motorsports, Inc. 2,929 66,635
Texas Roadhouse, Inc. 17,464 636,214
The Cheesecake Factory, Inc. 12,313 607,400
The Habit Restaurants, Inc., Class A (I)(L) 1,980 63,637
The Marcus Corp. 4,506 95,933
Vail Resorts, Inc. 8,960 926,643
14,825,028
Household durables - 1.2%
Beazer Homes USA, Inc. (I) 6,776 120,071
Cavco Industries, Inc. (I) 2,242 168,285
CSS Industries, Inc. 2,442 73,626
Ethan Allen Interiors, Inc. 6,369 176,039
Helen of Troy, Ltd. (I) 7,094 578,090
Hovnanian Enterprises, Inc., Class A (I)(L) 28,425 101,193
Installed Building Products, Inc. (I) 2,384 51,876
iRobot Corp. (I) 7,412 241,854
KB Home 20,676 322,959
La-Z-Boy, Inc. 13,120 368,803
LGI Homes, Inc. (I)(L) 3,579 59,626
Libbey, Inc. 5,591 223,137
M/I Homes, Inc. (I) 6,107 145,591
MDC Holdings, Inc. 9,781 278,759
Meritage Homes Corp. (I) 9,801 476,721
NACCO Industries, Inc., Class A 1,216 64,436
Skullcandy, Inc. (I) 5,834 65,924
Standard Pacific Corp. (I) 36,267 326,403
The Ryland Group, Inc. 11,599 565,335
TRI Pointe Homes, Inc. (I) 36,419 561,945
Universal Electronics, Inc. (I) 3,923 221,414
WCI Communities, Inc. (I) 2,827 67,707
William Lyon Homes, Class A (I) 4,327 111,723
5,371,517
Internet and catalog retail - 0.5%
1-800-Flowers.com, Inc., Class A (I) 6,947 82,183
Blue Nile, Inc. (I) 3,038 96,730

The accompanying notes are an integral part of the financial statements. 184


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Small Cap Index Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
Internet and catalog retail (continued)
EVINE Live, Inc. (I) 12,038 $ 80,775
FTD Companies, Inc. (I) 4,629 138,592
HSN, Inc. 8,149 556,006
Lands’ End, Inc. (I) 4,101 147,144
Nutrisystem, Inc. 7,158 143,017
Orbitz Worldwide, Inc. (I) 12,866 150,018
Overstock.com, Inc. (I) 2,908 70,432
PetMed Express, Inc. (L) 5,055 83,509
Shutterfly, Inc. (I) 9,664 437,199
Travelport Worldwide, Ltd. (L) 7,590 126,753
Wayfair, Inc., Class A (I)(L) 3,349 107,570
2,219,928
Leisure products - 0.5%
Arctic Cat, Inc. 3,238 117,604
Black Diamond, Inc. (I) 6,705 63,362
Brunswick Corp. 22,977 1,182,167
Callaway Golf Company 19,179 182,776
Escalade, Inc. 2,378 41,330
JAKKS Pacific, Inc. (I)(L) 5,489 37,545
Johnson Outdoors, Inc., Class A 1,452 48,076
LeapFrog Enterprises, Inc. (I) 16,399 35,750
Nautilus, Inc. (I) 7,822 119,442
Smith & Wesson Holding Corp. (I) 13,944 177,507
Sturm Ruger & Company, Inc. (L) 4,762 236,338
2,241,897
Media - 1.4%
AH Belo Corp., Class A 5,057 41,619
AMC Entertainment Holdings, Inc., Class A 5,330 189,162
Carmike Cinemas, Inc. (I) 6,067 203,851
Central European Media
       Enterprises, Ltd., Class A (I)(L) 20,451 54,400
Cumulus Media, Inc., Class A (I) 38,397 94,841
Daily Journal Corp. (I) 271 49,647
Dex Media, Inc. (I)(L) 3,692 15,469
Entercom Communications Corp., Class A (I) 6,989 84,916
Entravision Communications Corp., Class A 15,111 95,653
Eros International PLC (I) 5,581 97,500
Global Eagle Entertainment, Inc. (I) 9,947 132,395
Gray Television, Inc. (I) 12,754 176,260
Harte-Hanks, Inc. 12,593 98,225
Journal Communications, Inc., Class A (I) 11,229 166,414
Lee Enterprises, Inc. (I)(L) 16,541 52,435
Loral Space & Communications, Inc. (I) 3,268 223,662
MDC Partners, Inc., Class A 10,618 301,020
Media General, Inc. (I) 19,808 326,634
Meredith Corp. 8,847 493,397
National CineMedia, Inc. 15,381 232,253
New Media Investment Group, Inc. 11,117 266,030
Nexstar Broadcasting Group, Inc., Class A 7,613 435,616
Reading International, Inc., Class A (I) 4,699 63,202
Rentrak Corp. (I)(L) 2,462 136,789
Saga Communications, Inc., Class A 905 40,309
Scholastic Corp. 6,670 273,070
SFX Entertainment, Inc. (I)(L) 13,727 56,143
Sinclair Broadcast Group, Inc., Class A 17,210 540,566
Sizmek, Inc. (I) 6,904 50,123
The EW Scripps Company, Class A (I) 7,921 225,273
The McClatchy Company, Class A (I) 16,682 30,695
The New York Times Company, Class A 34,670 477,059
Time, Inc. 27,106 608,259
World Wrestling
       Entertainment, Inc., Class A (L) 7,572 106,084
6,438,971
Multiline retail - 0.1%
Burlington Stores, Inc. (I) 7,076 420,456
Fred’s, Inc., Class A 9,363 160,014
Tuesday Morning Corp. (I) 10,682 171,980
752,450
Specialty retail - 3.2%
Aeropostale, Inc. (I) 21,095 73,200
America’s Car-Mart, Inc. (I) 1,948 105,679
American Eagle Outfitters, Inc. 48,031 820,369
ANN, Inc. (I) 11,733 481,405
Asbury Automotive Group, Inc. (I) 7,596 631,228
Barnes & Noble, Inc. (I) 10,106 240,018
bebe stores, Inc. 9,301 33,763
Big 5 Sporting Goods Corp. 5,028 66,722
Brown Shoe Company, Inc. 10,940 358,832
Build-A-Bear Workshop, Inc. (I) 3,196 62,801
Christopher & Banks Corp. (I) 10,496 58,358
Citi Trends, Inc. (I) 4,075 110,025
Conn’s, Inc. (I)(L) 6,991 211,687
Destination Maternity Corp. 4,215 63,478
Destination XL Group, Inc. (I) 11,469 56,657
Express, Inc. (I) 21,172 349,973
Five Below, Inc. (I) 13,475 479,306
Francesca’s Holdings Corp. (I) 10,864 193,379
Genesco, Inc. (I) 5,946 423,534
Group 1 Automotive, Inc. 6,015 519,275
Guess?, Inc. 15,167 281,955
Haverty Furniture Companies, Inc. 5,068 126,092
Hibbett Sports, Inc. (I)(L) 6,495 318,645
Kirkland’s, Inc. (I) 3,567 84,716
Lithia Motors, Inc., Class A 5,613 557,988
Lumber Liquidators Holdings, Inc. (I)(L) 6,804 209,427
MarineMax, Inc. (I) 6,224 164,998
Mattress Firm Holding Corp. (I)(L) 3,703 257,877
Monro Muffler Brake, Inc. 7,826 509,081
Office Depot, Inc. (I) 132,439 1,218,439
Outerwall, Inc. (L) 4,698 310,632
Pacific Sunwear of California, Inc. (I) 14,845 40,972
Pier 1 Imports, Inc. 23,285 325,524
Rent-A-Center, Inc. 13,095 359,327
Restoration Hardware Holdings, Inc. (I) 7,766 770,310
Sears Hometown and Outlet Stores, Inc. (I) 3,662 28,271
Select Comfort Corp. (I) 13,585 468,275
Shoe Carnival, Inc. 3,820 112,461
Sonic Automotive, Inc., Class A 9,896 246,410
Stage Stores, Inc. 7,936 181,893
Stein Mart, Inc. 6,923 86,191
Systemax, Inc. (I) 2,832 34,607
The Buckle, Inc. (L) 7,111 363,301
The Cato Corp., Class A 6,758 267,617
The Children’s Place Retail Stores, Inc. 5,552 356,383
The Container Store Group, Inc. (I)(L) 4,327 82,429
The Finish Line, Inc., Class A 12,135 297,550
The Men’s Wearhouse, Inc. 11,883 620,293
The Pep Boys - Manny, Moe & Jack (I) 13,205 127,032
Tile Shop Holdings, Inc. (I) 7,666 92,835
Vitamin Shoppe, Inc. (I) 7,614 313,621
West Marine, Inc. (I) 4,385 40,649
Winmark Corp. 588 51,491

The accompanying notes are an integral part of the financial statements. 185


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Small Cap Index Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
Specialty retail (continued)
Zumiez, Inc. (I) 5,263 $ 211,836
14,858,817
Textiles, apparel and luxury goods - 1.1%
Columbia Sportswear Company 6,782 413,024
Crocs, Inc. (I) 20,776 245,365
Culp, Inc. 2,191 58,609
G-III Apparel Group, Ltd. (I) 4,747 534,750
Iconix Brand Group, Inc. (I) 11,910 401,010
Movado Group, Inc. 4,567 130,251
Oxford Industries, Inc. 3,564 268,904
Perry Ellis International, Inc. (I) 3,048 70,592
Quiksilver, Inc. (I)(L) 38,260 70,781
Sequential Brands Group, Inc. (I)(L) 4,609 49,316
Skechers U.S.A., Inc., Class A (I) 9,586 689,329
Steven Madden, Ltd. (I) 14,422 548,036
Tumi Holdings, Inc. (I) 12,698 310,593
Unifi, Inc. (I) 3,639 131,332
Vera Bradley, Inc. (I) 5,434 88,194
Vince Holding Corp. (I) 2,809 52,107
Wolverine World Wide, Inc. 24,978 835,514
4,897,707
62,619,262
Consumer staples - 3.1%
Beverages - 0.2%
Coca-Cola Bottling Company Consolidated 1,190 134,541
Craft Brew Alliance, Inc. (I) 3,077 41,970
National Beverage Corp. (I) 2,887 70,472
The Boston Beer Company, Inc., Class A (I) 2,034 543,892
790,875
Food and staples retailing - 1.0%
Casey’s General Stores, Inc. 9,505 856,401
Diplomat Pharmacy, Inc. (I)(L) 3,915 135,381
Fairway Group Holdings Corp. (I)(L) 5,706 38,630
Ingles Markets, Inc., Class A 3,131 154,922
Natural Grocers by Vitamin Cottage, Inc. (I) 2,390 65,988
PriceSmart, Inc. 4,696 399,066
Roundy’s, Inc. (I) 11,027 53,922
SpartanNash Company 9,505 299,978
SUPERVALU, Inc. (I) 50,188 583,686
The Andersons, Inc. 7,068 292,403
The Chefs’ Warehouse, Inc. (I) 4,833 108,404
The Fresh Market, Inc. (I)(L) 10,741 436,514
United Natural Foods, Inc. (I) 12,232 942,353
Village Super Market, Inc., Class A 2,230 70,111
Weis Markets, Inc. 2,736 136,143
4,573,902
Food products - 1.4%
B&G Foods, Inc. 13,298 391,360
Boulder Brands, Inc. (I) 15,263 145,456
Cal-Maine Foods, Inc. (L) 7,776 303,731
Calavo Growers, Inc. 3,681 189,277
Darling Ingredients, Inc. (I) 40,673 569,829
Dean Foods Company 23,440 387,463
Diamond Foods, Inc. (I) 5,671 184,704
Farmer Brothers Company (I) 1,870 46,283
Fresh Del Monte Produce, Inc. 8,770 341,241
Freshpet, Inc. (I)(L) 3,598 69,909
Inventure Foods, Inc. (I) 4,202 47,020
J&J Snack Foods Corp. 3,729 397,884
John B. Sanfilippo & Son, Inc. 2,073 89,346
Lancaster Colony Corp. 4,490 427,313
Landec Corp. (I) 6,710 93,605
Limoneira Company (L) 3,056 66,621
Omega Protein Corp. (I) 5,347 73,200
Post Holdings, Inc. (I) 10,881 509,666
Sanderson Farms, Inc. (L) 5,656 450,500
Seaboard Corp. (I) 70 289,240
Seneca Foods Corp., Class A (I) 2,760 82,276
Snyder’s-Lance, Inc. 11,868 379,301
Tootsie Roll Industries, Inc. (L) 4,829 163,787
TreeHouse Foods, Inc. (I) 10,413 885,313
6,584,325
Household products - 0.2%
Central Garden & Pet Company, Class A (I) 10,815 114,855
HRG Group, Inc. (I) 20,800 259,584
Oil-Dri Corp. of America 1,219 41,019
Orchids Paper Products Company 2,018 54,405
WD-40 Company 3,767 333,530
803,393
Personal products - 0.2%
Elizabeth Arden, Inc. (I)(L) 6,765 105,534
Inter Parfums, Inc. 4,204 137,134
Medifast, Inc. (I) 3,344 100,220
Nature’s Sunshine Products, Inc. 3,002 39,386
Nutraceutical International Corp. (I) 2,157 42,493
Revlon, Inc., Class A (I) 2,842 117,090
USANA Health Sciences, Inc. (I) 1,408 156,457
698,314
Tobacco - 0.1%
Universal Corp. 5,731 270,274
Vector Group, Ltd. (L) 19,023 417,935
688,209
14,139,018
Energy - 3.3%
Energy equipment and services - 1.1%
Basic Energy Services, Inc. (I) 9,602 66,542
Bristow Group, Inc. 8,838 481,229
C&J Energy Services, Ltd. (I) 11,543 128,474
CARBO Ceramics, Inc. (L) 4,834 147,485
CHC Group, Ltd. (I)(L) 10,413 13,849
Era Group, Inc. (I) 5,048 105,200
Exterran Holdings, Inc. 14,526 487,638
FMSA Holdings, Inc. (I)(L) 6,799 49,225
Forum Energy Technologies, Inc. (I) 14,934 292,706
Geospace Technologies Corp. (I) 3,494 57,686
Gulf Island Fabrication, Inc. 4,248 63,125
Gulfmark Offshore, Inc., Class A 6,752 88,046
Helix Energy Solutions Group, Inc. (I) 26,227 392,356
Hercules Offshore, Inc. (I)(L) 51,277 21,495
Hornbeck Offshore Services, Inc. (I) 9,089 170,964
ION Geophysical Corp. (I) 34,620 75,125
Key Energy Services, Inc. (I) 35,716 65,003
Matrix Service Company (I) 6,559 115,176
McDermott International, Inc. (I)(L) 59,558 228,703
Natural Gas Services Group, Inc. (I) 3,376 64,887
Newpark Resources, Inc. (I) 21,255 193,633
Nordic American Offshore, Ltd. (L) 4,929 45,150
North Atlantic Drilling, Ltd. (L) 19,930 23,119
Parker Drilling Company (I) 32,799 114,469
PHI, Inc. (I) 3,154 94,872

The accompanying notes are an integral part of the financial statements. 186


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Small Cap Index Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
Energy equipment and services (continued)
Pioneer Energy Services Corp. (I) 17,412 $ 94,373
RigNet, Inc. (I) 2,967 84,827
SEACOR Holdings, Inc. (I) 4,615 321,527
Tesco Corp. 8,794 99,988
TETRA Technologies, Inc. (I) 21,043 130,046
U.S. Silica Holdings, Inc. (L) 13,478 479,952
Vantage Drilling Company (I) 70,479 23,082
Willbros Group, Inc. (I) 10,780 35,682
4,855,634
Oil, gas and consumable fuels - 2.2%
Abraxas Petroleum Corp. (I) 26,010 84,533
Alon USA Energy, Inc. 6,437 106,661
Alpha Natural Resources, Inc. (I)(L) 59,849 59,843
Approach Resources, Inc. (I)(L) 10,369 68,332
Arch Coal, Inc. (I)(L) 56,184 56,178
Ardmore Shipping Corp. 5,448 54,861
Bill Barrett Corp. (I)(L) 12,799 106,232
Bonanza Creek Energy, Inc. (I) 8,279 204,160
Callon Petroleum Company (I) 14,618 109,196
Carrizo Oil & Gas, Inc. (I) 11,320 562,038
Clayton Williams Energy, Inc. (I)(L) 1,588 80,400
Clean Energy Fuels Corp. (I)(L) 19,254 102,720
Cloud Peak Energy, Inc. (I) 15,296 89,023
Comstock Resources, Inc. (L) 13,654 48,745
Contango Oil & Gas Company (I) 4,405 96,910
Delek US Holdings, Inc. 14,698 584,246
DHT Holdings, Inc. 22,917 159,961
Diamondback Energy, Inc. (I) 10,505 807,204
Eclipse Resources Corp. (I)(L) 8,029 45,123
Energy XXI, Ltd. (L) 25,130 91,473
EXCO Resources, Inc. (L) 39,250 71,828
Frontline, Ltd. (I)(L) 17,872 40,033
GasLog, Ltd. 10,577 205,405
Gastar Exploration, Inc. (I) 20,982 54,973
Goodrich Petroleum Corp. (I)(L) 11,170 39,654
Green Plains, Inc. 9,344 266,771
Halcon Resources Corp. (I)(L) 66,306 102,111
Magnum Hunter Resources Corp. (I)(L) 50,483 134,790
Matador Resources Company (I) 18,383 402,955
Navios Maritime Acquisition Corp. (L) 22,716 80,415
Nordic American Tankers, Ltd. (L) 22,533 268,368
Northern Oil and Gas, Inc. (I)(L) 15,833 122,072
Pacific Ethanol, Inc. (I) 5,990 64,632
Panhandle Oil and Gas, Inc., Class A 3,949 78,151
Parsley Energy, Inc., Class A (I) 13,686 218,702
PDC Energy, Inc. (I) 8,884 480,091
Penn Virginia Corp. (I)(L) 16,881 109,389
PetroQuest Energy, Inc. (I) 17,886 41,138
Renewable Energy Group, Inc. (I) 8,996 82,943
REX American Resources Corp. (I) 1,563 95,046
Rex Energy Corp. (I)(L) 13,696 50,949
Ring Energy, Inc. (I)(L) 6,114 64,931
Rosetta Resources, Inc. (I) 15,408 262,244
RSP Permian, Inc. (I) 5,863 147,689
Sanchez Energy Corp. (I)(L) 12,984 168,922
Scorpio Tankers, Inc. 40,510 381,604
SemGroup Corp., Class A 10,520 855,697
Ship Finance International, Ltd. (L) 14,495 214,526
Solazyme, Inc. (I)(L) 23,148 66,203
Stone Energy Corp. (I) 14,419 211,671
Swift Energy Company (I)(L) 14,732 31,821
Synergy Resources Corp. (I) 17,084 202,445
Teekay Tankers, Ltd., Class A 20,617 118,342
Triangle Petroleum Corp. (I)(L) 17,555 88,302
VAALCO Energy, Inc. (I) 13,626 33,384
W&T Offshore, Inc. (L) 10,240 52,326
Western Refining, Inc. 13,119 647,947
Westmoreland Coal Company (I) 3,762 100,671
10,176,980
15,032,614
Financials - 23.0%
Banks - 7.4%
1st Source Corp. 3,750 120,488
American National Bankshares, Inc. 2,237 50,511
Ameris Bancorp 6,232 164,462
Ames National Corp. (L) 2,072 51,489
Arrow Financial Corp. 2,742 74,445
Banc of California, Inc. 10,356 127,482
BancFirst Corp. 1,777 108,361
Banco Latinoamericano de
       Comercio Exterior SA 7,337 240,580
BancorpSouth, Inc. 23,557 546,994
Bank of Kentucky Financial Corp. 1,577 77,352
Bank of Marin Bancorp 1,485 75,587
Bank of the Ozarks, Inc. 20,885 771,283
Banner Corp. 4,933 226,425
BBCN Bancorp, Inc. 19,981 289,125
Blue Hills Bancorp, Inc. (I) 7,707 101,887
BNC Bancorp 5,002 90,536
Boston Private Financial Holdings, Inc. 20,128 244,555
Bridge Bancorp, Inc. 2,919 75,398
Bridge Capital Holdings (I) 2,466 64,387
Bryn Mawr Bank Corp. 3,429 104,276
Camden National Corp. 1,868 74,421
Capital Bank Financial Corp., Class A (I) 6,245 172,424
Capital City Bank Group, Inc. 2,681 43,566
Cardinal Financial Corp. 9,174 183,297
Cascade Bancorp (I) 9,980 47,904
Cathay General Bancorp 19,957 567,777
CenterState Banks, Inc. 8,971 106,845
Central Pacific Financial Corp. 4,304 98,863
Century Bancorp, Inc., Class A 877 34,817
Chemical Financial Corp. 8,414 263,863
Citizens & Northern Corp. 3,122 63,002
City Holding Company 3,987 187,509
CNB Financial Corp. 3,646 62,055
CoBiz Financial, Inc. 8,980 110,634
Columbia Banking System, Inc. 14,339 415,401
Community Bank Systems, Inc. 10,219 361,650
Community Trust Bancorp, Inc. 3,917 129,888
ConnectOne Bancorp, Inc. 5,655 110,046
CU Bancorp (I) 2,518 57,285
Customers Bancorp, Inc. (I) 7,262 176,902
CVB Financial Corp. 26,535 422,968
Eagle Bancorp, Inc. (I) 6,812 261,581
Enterprise Bancorp, Inc. 1,884 40,035
Enterprise Financial Services Corp. 4,965 102,577
Financial Institutions, Inc. 4,887 112,059
First BanCorp (I) 25,507 158,143
First Bancorp North Carolina 4,944 86,817
First Bancorp, Inc. 2,408 42,020
First Busey Corp. 18,283 122,313
First Business Financial Services, Inc. 989 42,764
First Citizens BancShares, Inc., Class A 2,322 603,000
First Commonwealth Financial Corp. 23,463 211,167

The accompanying notes are an integral part of the financial statements. 187


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Small Cap Index Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
Banks (continued)
First Community Bancshares, Inc. 4,114 $ 72,118
First Connecticut Bancorp, Inc. 5,194 79,832
First Financial Bancorp 14,192 252,760
First Financial Bankshares, Inc. (L) 16,047 443,539
First Financial Corp. 2,867 102,897
First Interstate BancSystem, Inc., Class A 4,537 126,219
First Merchants Corp. 9,035 212,684
First Midwest Bancorp, Inc. 18,519 321,675
First NBC Bank Holding Company (I) 3,772 124,401
FirstMerit Corp. 40,424 770,481
Flushing Financial Corp. 7,680 154,138
FNB Corp. 41,691 547,820
German American Bancorp, Inc. 3,276 96,413
Glacier Bancorp, Inc. 18,657 469,224
Great Southern Bancorp, Inc. 3,153 124,197
Great Western Bancorp, Inc. 4,363 96,030
Guaranty Bancorp 4,423 75,014
Hancock Holding Company 20,267 605,173
Hanmi Financial Corp. 7,886 166,789
Heartland Financial USA, Inc. 3,944 128,693
Heritage Commerce Corp. 5,240 47,841
Heritage Financial Corp. 7,522 127,874
Heritage Oaks Bancorp 5,667 47,093
Hilltop Holdings, Inc. (I) 18,661 362,770
Home BancShares, Inc. 13,568 459,820
HomeTrust Bancshares, Inc. (I) 5,273 84,210
Horizon Bancorp 2,310 54,031
Hudson Valley Holding Corp. 3,707 94,751
IBERIABANK Corp. 7,772 489,869
Independent Bank Corp. (MA) 5,866 257,341
Independent Bank Corp. (MI) 5,753 73,811
Independent Bank Group, Inc. 2,299 89,454
International Bancshares Corp. 13,638 354,997
Investors Bancorp, Inc. 87,331 1,023,519
Lakeland Bancorp, Inc. 9,511 109,377
Lakeland Financial Corp. 4,183 169,746
LegacyTexas Financial Group, Inc. 10,011 227,550
Macatawa Bank Corp. 6,598 35,299
MainSource Financial Group, Inc. 5,126 100,675
MB Financial, Inc. 16,352 511,981
Mercantile Bank Corp. 4,217 82,442
Merchants Bancshares, Inc. 1,295 37,775
Metro Bancorp, Inc. 3,562 98,204
MidSouth Bancorp, Inc. 2,767 40,813
MidWestOne Financial Group, Inc. 1,753 50,539
National Bank Holdings Corp., Class A 10,313 193,988
National Bankshares, Inc. (L) 1,684 50,251
National Penn Bancshares, Inc. 30,991 333,773
NBT Bancorp, Inc. 10,765 269,771
NewBridge Bancorp 8,452 75,392
Northrim BanCorp, Inc. 1,718 42,160
OFG Bancorp 11,301 184,432
Old National Bancorp 29,200 414,348
Opus Bank 1,284 39,650
Pacific Continental Corp. 5,279 69,788
Pacific Premier Bancorp, Inc. (I) 4,333 70,151
Park National Corp. 3,163 270,626
Park Sterling Corp. 11,240 79,804
Peapack Gladstone Financial Corp. 3,628 78,365
Penns Woods Bancorp, Inc. 1,425 69,697
Peoples Bancorp, Inc. 4,875 115,245
Peoples Financial Services Corp. 1,892 84,894
Pinnacle Financial Partners, Inc. 8,968 398,717
Preferred Bank 2,939 80,734
PrivateBancorp, Inc. 17,692 622,228
Prosperity Bancshares, Inc. 17,220 903,706
Renasant Corp. (L) 7,878 236,734
Republic Bancorp, Inc., Class A 2,469 61,058
S&T Bancorp, Inc. 7,439 211,119
Sandy Spring Bancorp, Inc. 6,301 165,275
Seacoast Banking Corp. of Florida (I) 4,891 69,795
Sierra Bancorp 3,048 50,902
Simmons First National Corp., Class A 4,056 184,426
South State Corp. 6,013 411,229
Southside Bancshares, Inc. (L) 5,973 171,365
Southwest Bancorp, Inc. 4,970 88,416
Square 1 Financial, Inc., Class A (I) 1,736 46,473
State Bank Financial Corp. 9,632 202,272
Sterling Bancorp 20,893 280,175
Stock Yards Bancorp, Inc. 3,669 126,324
Stonegate Bank 2,501 75,505
Suffolk Bancorp 2,910 69,142
Susquehanna Bancshares, Inc. 46,016 630,879
Talmer Bancorp, Inc., Class A 4,591 70,311
Texas Capital Bancshares, Inc. (I) 11,341 551,740
The Bancorp, Inc. (I) 9,223 83,284
The First of Long Island Corp. 3,030 77,265
Tompkins Financial Corp. 3,716 200,107
Towne Bank (L) 10,786 173,439
TriCo Bancshares 6,386 154,094
TriState Capital Holdings, Inc. (I) 6,271 65,657
Trustmark Corp. 16,674 404,845
UMB Financial Corp. 9,308 492,300
Umpqua Holdings Corp. 40,782 700,635
Union Bankshares Corp. 11,606 257,769
United Bankshares, Inc. 16,898 635,027
United Community Banks, Inc. 12,415 234,395
Univest Corp. of Pennsylvania 4,082 80,783
Valley National Bancorp 53,816 508,023
Washington Trust Bancorp, Inc. 3,644 139,164
Webster Financial Corp. 21,973 814,100
WesBanco, Inc. 6,814 222,000
West Bancorp, Inc. 3,996 79,480
WestAmerica Bancorp. (L) 6,593 284,884
Western Alliance Bancorp (I) 18,583 550,800
Wilshire Bancorp, Inc. 17,822 177,685
Wintrust Financial Corp. 11,433 545,125
Yadkin Financial Corp. (I) 5,099 103,510
34,216,326
Capital markets - 1.5%
Arlington Asset Investment Corp., Class A (L) 5,579 134,231
BGC Partners, Inc., Class A 43,163 407,890
Calamos Asset Management, Inc., Class A 4,882 65,663
Cohen & Steers, Inc. (L) 4,845 198,403
Cowen Group, Inc., Class A (I) 30,378 157,966
Diamond Hill Investment Group, Inc. 712 113,920
Evercore Partners, Inc., Class A 8,212 424,232
FBR & Company (I) 2,181 50,403
Financial Engines, Inc. (L) 12,791 535,048
FXCM, Inc., Class A (L) 11,304 24,078
GAMCO Investors, Inc., Class A 1,602 125,773
GFI Group, Inc. 19,189 113,791
Greenhill & Company, Inc. 7,093 281,237
HFF, Inc., Class A 8,099 304,036
INTL. FCStone, Inc. (I) 4,919 146,242
Investment Technology Group, Inc. (I) 9,119 276,397

The accompanying notes are an integral part of the financial statements. 188


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Small Cap Index Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
Capital markets (continued)
Janus Capital Group, Inc. 36,719 $ 631,200
KCG Holdings, Inc., Class A (I) 11,312 138,685
Ladenburg Thalmann
       Financial Services, Inc. (I) 26,076 100,653
Manning & Napier, Inc. 4,192 54,538
Moelis & Company, Class A 1,877 56,535
OM Asset Management PLC 6,429 119,837
Oppenheimer Holdings, Inc., Class A 3,237 75,940
Piper Jaffray Companies (I) 4,002 209,945
Safeguard Scientifics, Inc. (I) 5,543 100,217
Stifel Financial Corp. (I) 16,126 899,025
Virtus Investment Partners, Inc. 1,777 232,378
Walter Investment Management Corp. (I)(L) 9,447 152,569
Westwood Holdings Group, Inc. 1,837 110,771
WisdomTree Investments, Inc. 26,721 573,433
6,815,036
Consumer finance - 0.6%
Cash America International, Inc. 7,054 164,358
Consumer Portfolio Services, Inc. (I) 6,417 44,855
Credit Acceptance Corp. (I) 1,574 306,930
Encore Capital Group, Inc. (I) 6,443 267,964
Enova International, Inc. (I) 6,454 127,079
Ezcorp, Inc., Class A (I) 12,798 116,846
First Cash Financial Services, Inc. (I) 7,260 337,735
Green Dot Corp., Class A (I) 7,722 122,934
Nelnet, Inc., Class A 5,099 241,285
Nicholas Financial, Inc. (I) 2,713 38,009
PRA Group, Inc. (I) 12,417 674,491
Regional Management Corp. (I) 3,181 46,952
Springleaf Holdings, Inc. (I) 6,132 317,454
World Acceptance Corp. (I)(L) 1,974 143,944
2,950,836
Diversified financial services - 0.3%
Gain Capital Holdings, Inc. 6,479 63,300
MarketAxess Holdings, Inc. 9,352 775,281
Marlin Business Services Corp. 2,101 42,083
NewStar Financial, Inc. (I) 6,520 76,480
PHH Corp. (I) 12,645 305,630
PICO Holdings, Inc. (I) 6,112 99,076
1,361,850
Insurance - 2.4%
Ambac Financial Group, Inc. (I) 11,188 270,750
American Equity Investment Life
       Holding Company 18,438 537,099
AMERISAFE, Inc. 4,677 216,311
AmTrust Financial Services, Inc. (L) 7,455 424,823
Argo Group International Holdings, Ltd. 7,174 359,776
Atlas Financial Holdings, Inc. (I) 3,351 59,212
Baldwin & Lyons, Inc., Class B 2,350 55,131
Citizens, Inc. (I)(L) 11,097 68,358
CNO Financial Group, Inc. 50,386 867,647
Crawford & Company, Class B 6,810 58,838
eHealth, Inc. (I)(L) 4,225 39,631
Employers Holdings, Inc. 7,804 210,630
Enstar Group, Ltd. (I) 2,075 294,360
FBL Financial Group, Inc., Class A 2,419 150,002
Federated National Holding Company 3,463 105,968
Fidelity & Guaranty Life 2,825 59,890
First American Financial Corp. 26,160 933,389
Global Indemnity PLC (I) 2,065 57,304
Greenlight Capital Re, Ltd., Class A (I) 7,106 225,971
Hallmark Financial Services, Inc. (I) 3,573 37,874
HCI Group, Inc. 2,350 107,795
Heritage Insurance Holdings, Inc. (I) 1,741 38,319
Horace Mann Educators Corp. 10,206 349,045
Infinity Property & Casualty Corp. 2,887 236,878
Kansas City Life Insurance Company 960 44,093
Kemper Corp. 11,533 449,326
Maiden Holdings, Ltd. 12,393 183,788
Meadowbrook Insurance Group, Inc. 13,515 114,878
Montpelier Re Holdings, Ltd. 8,956 344,269
National General Holdings Corp. 8,730 163,251
National Interstate Corp. 1,779 49,954
National Western Life Insurance
       Company, Class A 561 142,662
OneBeacon Insurance Group, Ltd., Class A 5,664 86,149
Primerica, Inc. 13,552 689,797
RenaissanceRe Holdings, Ltd. 1,786 178,118
RLI Corp. 10,782 565,085
Safety Insurance Group, Inc. 3,249 194,128
Selective Insurance Group, Inc. 14,118 410,128
State Auto Financial Corp. 3,697 89,800
State National Companies, Inc. 7,571 75,331
Stewart Information Services Corp. 5,276 214,417
Symetra Financial Corp. 18,892 443,206
The Navigators Group, Inc. (I) 2,577 200,594
The Phoenix Companies, Inc. (I) 1,521 76,035
Third Point Reinsurance, Ltd. (I) 14,171 200,520
United Fire Group, Inc. 5,183 164,664
United Insurance Holdings Corp. 4,175 93,938
Universal Insurance Holdings, Inc. 7,898 202,110
11,141,242
Real estate investment trusts - 8.7%
Acadia Realty Trust 16,754 584,380
AG Mortgage Investment Trust, Inc. 7,097 133,707
Agree Realty Corp. 5,061 166,861
Alexander’s, Inc. 523 238,791
Altisource Residential Corp., Class B 14,324 298,799
American Assets Trust, Inc. 8,985 388,871
American Capital Mortgage Investment Corp. 12,802 229,924
American Residential Properties, Inc. (I) 8,035 144,550
Anworth Mortgage Asset Corp. 30,207 153,754
Apollo Commercial Real Estate Finance, Inc. 11,264 193,516
Apollo Residential Mortgage, Inc. 8,107 129,307
Ares Commercial Real Estate Corp. 11,674 128,998
Armada Hoffler Properties, Inc. 10,842 115,576
ARMOUR Residential REIT, Inc. 88,187 279,553
Ashford Hospitality Prime, Inc. 7,689 128,945
Ashford Hospitality Trust, Inc. 17,552 168,850
Associated Estates Realty Corp. 14,409 355,614
Aviv REIT, Inc. 4,926 179,799
Campus Crest Communities, Inc. 16,117 115,398
Capstead Mortgage Corp. 22,469 264,460
CareTrust REIT, Inc. 7,445 100,954
CatchMark Timber Trust, Inc., Class A 6,225 72,957
Cedar Realty Trust, Inc. 23,860 178,711
Chambers Street Properties 58,607 461,823
Chatham Lodging Trust 9,591 282,071
Chesapeake Lodging Trust 13,633 461,204
Colony Financial, Inc. 26,145 677,678
CorEnergy Infrastructure Trust, Inc. 14,422 99,944
CoreSite Realty Corp. 5,325 259,221
Cousins Properties, Inc. 54,269 575,251
CubeSmart 39,793 961,001

The accompanying notes are an integral part of the financial statements. 189


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (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)
CyrusOne, Inc. 8,082 $ 251,512
CYS Investments, Inc. 39,164 348,951
DCT Industrial Trust, Inc. 19,647 680,965
DiamondRock Hospitality Company 47,945 677,463
DuPont Fabros Technology, Inc. 15,305 500,167
Dynex Capital, Inc. 13,856 117,360
EastGroup Properties, Inc. 7,839 471,437
Education Realty Trust, Inc. 11,457 405,349
Empire State Realty Trust, Inc., Class A 22,974 432,141
EPR Properties 13,719 823,552
Equity One, Inc. 14,863 396,693
Excel Trust, Inc. 15,322 214,814
FelCor Lodging Trust, Inc. 31,210 358,603
First Industrial Realty Trust, Inc. 27,616 591,811
First Potomac Realty Trust 14,823 176,245
Franklin Street Properties Corp. 22,554 289,142
Getty Realty Corp. 6,411 116,680
Gladstone Commercial Corp. 8,586 159,785
Government Properties Income Trust 16,723 382,121
Gramercy Property Trust, Inc. 11,679 327,830
Hannon Armstrong Sustainable
       Infrastructure Capital, Inc. 7,519 137,447
Hatteras Financial Corp. 22,747 413,086
Healthcare Realty Trust, Inc. 23,385 649,635
Hersha Hospitality Trust 50,293 325,396
Highwoods Properties, Inc. 21,619 989,718
Hudson Pacific Properties, Inc. 16,166 536,550
Inland Real Estate Corp. 21,808 233,128
Invesco Mortgage Capital, Inc. 30,093 467,344
Investors Real Estate Trust 28,035 210,263
iStar Financial, Inc. (I) 21,277 276,601
Kite Realty Group Trust 7,863 221,501
LaSalle Hotel Properties 27,261 1,059,362
Lexington Realty Trust 50,624 497,634
LTC Properties, Inc. 8,775 403,650
Mack-Cali Realty Corp. 21,866 421,576
Medical Properties Trust, Inc. 50,449 743,618
Monmouth Real Estate
       Investment Corp., Class A 13,999 155,529
National Health Investors, Inc. 9,175 651,517
New Residential Investment Corp. 34,991 525,915
New York Mortgage Trust, Inc. 27,249 211,452
New York REIT, Inc. 40,684 426,368
Owens Realty Mortgage, Inc. 2,710 40,596
Parkway Properties, Inc. 19,842 344,259
Pebblebrook Hotel Trust 17,609 820,051
Pennsylvania Real Estate Investment Trust 17,239 400,462
PennyMac Mortgage Investment Trust 17,806 379,090
Physicians Realty Trust 17,535 308,791
Potlatch Corp. 10,163 406,927
PS Business Parks, Inc. 4,876 404,903
QTS Realty Trust, Inc., Class A 3,046 110,905
RAIT Financial Trust 20,641 141,597
Ramco-Gershenson Properties Trust 19,336 359,650
Redwood Trust, Inc. 20,516 366,621
Resource Capital Corp. 32,681 148,372
Retail Opportunity Investments Corp. 22,577 413,159
Rexford Industrial Realty, Inc. 11,243 177,752
RLJ Lodging Trust 31,578 988,707
Rouse Properties, Inc. 9,332 176,935
Ryman Hospitality Properties 10,571 643,880
Sabra Health Care REIT, Inc. 14,736 488,498
Saul Centers, Inc. 2,767 158,272
Select Income REIT 9,209 230,133
Silver Bay Realty Trust Corp. 9,544 154,231
Sovran Self Storage, Inc. 7,992 750,768
STAG Industrial, Inc. 14,280 335,866
Starwood Waypoint Residential Trust (L) 9,847 254,545
Store Capital Corp. 7,916 184,839
Strategic Hotels & Resorts, Inc. (I) 66,119 821,859
Summit Hotel Properties, Inc. 21,012 295,639
Sun Communities, Inc. 11,708 781,158
Sunstone Hotel Investors, Inc. 50,350 839,335
Terreno Realty Corp. 11,234 256,135
The Geo Group, Inc. 17,764 776,997
Trade Street Residential, Inc. (L) 4,677 33,487
Universal Health Realty Income Trust 3,034 170,663
Urstadt Biddle Properties, Inc., Class A 7,721 178,046
Washington Real Estate Investment Trust 16,427 453,878
Western Asset Mortgage Capital Corp. 10,457 157,692
Whitestone REIT 6,823 108,349
39,873,426
Real estate management and development - 0.4%
Alexander & Baldwin, Inc. 12,219 527,616
Altisource Asset Management Corp. (I)(L) 354 65,536
Altisource Portfolio Solutions SA (I)(L) 3,324 42,780
AV Homes, Inc. (I) 3,741 59,706
Consolidated-Tomoka Land Company 1,087 64,850
Forestar Group, Inc. (I) 8,712 137,388
FRP Holdings, Inc. (I) 1,668 60,715
Kennedy-Wilson Holdings, Inc. 17,996 470,415
Marcus & Millichap, Inc. (I) 2,008 75,260
RE/MAX Holdings, Inc., Class A 2,738 90,929
Tejon Ranch Company (I) 3,367 89,057
The St. Joe Company (I) 15,839 293,972
1,978,224
Thrifts and mortgage finance - 1.7%
Astoria Financial Corp. 21,712 281,170
Bank Mutual Corp. 11,690 85,571
BankFinancial Corp. 4,682 61,521
BBX Capital Corp., Class A (I) 2,258 41,999
Beneficial Bancorp, Inc. (I) 8,080 91,223
Berkshire Hills Bancorp, Inc. 6,244 172,959
BofI Holding, Inc. (I) 3,559 331,129
Brookline Bancorp, Inc. 17,471 175,584
Capitol Federal Financial, Inc. 34,980 437,250
Charter Financial Corp. 4,873 56,040
Clifton Bancorp, Inc. 6,645 93,761
Dime Community Bancshares, Inc. 8,208 132,149
Essent Group, Ltd. (I) 10,882 260,189
EverBank Financial Corp. 22,311 402,267
Federal Agricultural Mortgage Corp., Class C 2,615 73,717
First Defiance Financial Corp. 2,427 79,654
Flagstar Bancorp, Inc. (I) 5,475 79,442
Fox Chase Bancorp, Inc. 3,054 51,399
Home Loan Servicing Solutions, Ltd. (L) 17,798 294,379
HomeStreet, Inc. (I) 3,995 73,188
Kearny Financial Corp. (I) 3,653 49,608
Ladder Capital Corp., Class A (I) 4,089 75,687
LendingTree, Inc. (I) 1,606 89,952
Meridian Bancorp, Inc. (I) 5,230 68,879
Meta Financial Group, Inc. 1,538 61,105
MGIC Investment Corp. (I) 83,775 806,753
NMI Holdings, Inc., Class A (I) 13,455 100,778
Northfield Bancorp, Inc. 13,932 206,472

The accompanying notes are an integral part of the financial statements. 190


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Small Cap Index Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
Thrifts and mortgage finance (continued)
Northwest Bancshares, Inc. 23,569 $ 279,293
OceanFirst Financial Corp. 3,364 58,096
Oritani Financial Corp. 11,346 165,084
PennyMac Financial Services, Inc. (I) 3,376 57,291
Provident Financial Services, Inc. 15,206 283,592
Radian Group, Inc. 47,200 792,488
Stonegate Mortgage Corp. (I)(L) 4,005 43,334
Territorial Bancorp, Inc. 2,196 52,177
TrustCo Bank Corp. 23,195 159,582
United Community Financial Corp. 12,696 69,320
United Financial Bancorp, Inc. 13,343 165,853
Walker & Dunlop, Inc. (I) 4,653 82,498
Washington Federal, Inc. 24,659 537,690
Waterstone Financial, Inc. 8,688 111,554
WSFS Financial Corp. 2,234 168,957
7,760,634
106,097,574
Health care - 15.1%
Biotechnology - 6.0%
ACADIA Pharmaceuticals, Inc. (I)(L) 19,531 636,515
Acceleron Pharma, Inc. (I) 4,059 154,486
Achillion Pharmaceuticals, Inc. (I) 24,131 237,932
Acorda Therapeutics, Inc. (I) 10,439 347,410
Actinium Pharmaceuticals, Inc. (I)(L) 5,583 13,790
Aegerion Pharmaceuticals, Inc. (I)(L) 7,576 198,264
Agenus, Inc. (I) 16,436 84,317
Agios Pharmaceuticals, Inc. (I) 3,608 340,234
Alder Biopharmaceuticals, Inc. (I) 2,585 74,603
AMAG Pharmaceuticals, Inc. (I) 5,397 295,000
Anacor Pharmaceuticals, Inc. (I) 8,254 477,494
Arena Pharmaceuticals, Inc. (I) 60,224 263,179
ARIAD Pharmaceuticals, Inc. (I)(L) 41,067 338,392
Array BioPharma, Inc. (I)(L) 31,543 232,472
Arrowhead Research Corp. (I)(L) 14,428 97,605
Auspex Pharmaceuticals, Inc. (I) 2,533 253,984
Avalanche Biotechnologies, Inc. (I) 1,971 79,865
BioCryst Pharmaceuticals, Inc. (I)(L) 17,938 161,980
BioTime, Inc. (I)(L) 15,120 75,146
Bluebird Bio, Inc. (I) 6,103 737,059
Calithera Biosciences, Inc. (I) 2,263 37,158
Celldex Therapeutics, Inc. (I) 22,180 618,157
Cepheid, Inc. (I) 17,234 980,615
ChemoCentryx, Inc. (I) 7,407 55,923
Chimerix, Inc. (I) 7,501 282,713
Clovis Oncology, Inc. (I) 6,121 454,362
Coherus Biosciences, Inc. (I) 1,794 54,861
CTI BioPharma Corp. (I) 36,416 65,913
Cytokinetics, Inc. (I) 9,342 63,339
CytRx Corp. (I)(L) 16,259 54,793
Durata Therapeutics, Inc. (I) 3,858 7,060
Dyax Corp. (I) 33,869 567,475
Dynavax Technologies Corp. (I)(L) 6,895 154,655
Emergent Biosolutions, Inc. (I) 7,161 205,950
Enanta Pharmaceuticals, Inc. (I)(L) 2,611 79,949
Epizyme, Inc. (I) 3,263 61,279
Esperion Therapeutics, Inc. (I) 1,484 137,418
Exact Sciences Corp. (I)(L) 21,973 483,845
Exelixis, Inc. (I)(L) 51,002 131,075
FibroGen, Inc. (I) 2,396 75,186
Five Prime Therapeutics, Inc. (I) 5,151 117,700
Foundation Medicine, Inc. (I)(L) 3,483 167,567
Galena Biopharma, Inc. (I)(L) 35,316 49,089
Genomic Health, Inc. (I) 4,134 126,294
Geron Corp. (I)(L) 40,858 154,035
Halozyme Therapeutics, Inc. (I) 25,773 368,038
Heron Therapeutics, Inc. (I) 6,454 93,906
Hyperion Therapeutics, Inc. (I) 3,688 169,279
Idera Pharmaceuticals, Inc. (I)(L) 15,875 58,896
Immune Design Corp. (I) 1,701 35,908
ImmunoGen, Inc. (I)(L) 21,330 190,904
Immunomedics, Inc. (I)(L) 22,813 87,374
Infinity Pharmaceuticals, Inc. (I) 11,878 166,054
Inovio Pharmaceuticals, Inc. (I)(L) 15,569 127,043
Insmed, Inc. (I) 12,149 252,699
Insys Therapeutics, Inc. (I)(L) 2,461 143,058
Intrexon Corp. (I)(L) 9,365 424,890
Ironwood Pharmaceuticals, Inc. (I) 29,681 474,896
Isis Pharmaceuticals, Inc. (I) 29,088 1,852,033
Karyopharm Therapeutics, Inc. (I) 3,805 116,471
Keryx Biopharmaceuticals, Inc. (I)(L) 25,256 321,509
Kite Pharma, Inc. (I) 2,340 134,971
Kythera Biopharmaceuticals, Inc. (I) 4,398 220,560
Lexicon Pharmaceuticals, Inc. (I)(L) 66,863 63,139
Ligand Pharmaceuticals, Inc. (I) 4,926 379,844
MacroGenics, Inc. (I) 5,066 158,920
MannKind Corp. (I)(L) 56,552 294,070
Merrimack Pharmaceuticals, Inc. (I)(L) 24,477 290,787
MiMedx Group, Inc. (I)(L) 23,085 240,084
Mirati Therapeutics, Inc. (I)(L) 2,159 63,302
Momenta Pharmaceuticals, Inc. (I) 12,143 184,574
NanoViricides, Inc. (I) 13,459 30,283
Navidea Biopharmaceuticals, Inc. (I)(L) 42,099 66,937
Neuralstem, Inc. (I)(L) 19,960 37,924
Neurocrine Biosciences, Inc. (I) 18,785 745,952
NewLink Genetics Corp. (I) 4,866 266,219
Northwest Biotherapeutics, Inc. (I)(L) 11,146 82,146
Novavax, Inc. (I) 59,670 493,471
Ohr Pharmaceutical, Inc. (I)(L) 6,421 16,309
OncoMed Pharmaceuticals, Inc. (I) 3,257 83,965
Oncothyreon, Inc. (I) 24,241 39,513
Ophthotech Corp. (I) 3,477 161,785
OPKO Health, Inc. (I)(L) 48,788 691,326
Orexigen Therapeutics, Inc. (I)(L) 30,718 240,522
Organovo Holdings, Inc. (I)(L) 16,285 57,649
Osiris Therapeutics, Inc. (I)(L) 5,240 92,119
Otonomy, Inc. (I) 1,974 69,801
OvaScience, Inc. (I)(L) 4,261 147,985
PDL BioPharma, Inc. (L) 39,594 278,544
Peregrine Pharmaceuticals, Inc. (I)(L) 51,190 69,107
Portola Pharmaceuticals, Inc. (I) 10,593 402,110
Progenics Pharmaceuticals, Inc. (I) 17,323 103,592
Prothena Corp. PLC (I) 6,909 263,509
PTC Therapeutics, Inc. (I) 6,067 369,177
Puma Biotechnology, Inc. (I) 5,741 1,355,508
Radius Health, Inc. (I) 2,215 91,169
Raptor Pharmaceutical Corp. (I)(L) 16,314 177,333
Receptos, Inc. (I) 5,429 895,188
Regulus Therapeutics, Inc. (I)(L) 3,912 66,269
Repligen Corp. (I) 7,864 238,751
Retrophin, Inc. (I) 5,671 135,877
Rigel Pharmaceuticals, Inc. (I) 25,566 91,271
Sage Therapeutics, Inc. (I)(L) 1,491 74,893
Sangamo BioSciences, Inc. (I) 17,223 270,057
Sarepta Therapeutics, Inc. (I)(L) 10,473 139,081
Spectrum Pharmaceuticals, Inc. (I)(L) 17,355 105,345

The accompanying notes are an integral part of the financial statements. 191


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Small Cap Index Trust (continued)

Shares or
Principal
Amount		       Value
COMMON STOCKS (continued)
Biotechnology (continued)
Stemline Therapeutics, Inc. (I) 4,072 $ 58,922
Sunesis Pharmaceuticals, Inc. (I) 14,821 36,311
Synageva BioPharma Corp. (I)(L) 5,753 561,090
Synergy Pharmaceuticals, Inc. (I)(L) 25,895 119,635
Synta Pharmaceuticals Corp. (I)(L) 20,115 39,023
TESARO, Inc. (I)(L) 4,958 284,589
TG Therapeutics, Inc. (I) 7,001 108,375
Threshold Pharmaceuticals, Inc. (I) 14,643 59,451
Ultragenyx Pharmaceutical, Inc. (I) 1,758 109,154
Vanda Pharmaceuticals, Inc. (I)(L) 10,153 94,423
Verastem, Inc. (I) 7,919 80,536
Versartis, Inc. (I) 2,321 42,637
Vital Therapies, Inc. (I)(L) 1,617 40,441
Xencor, Inc. (I) 3,924 60,116
XOMA Corp. (I)(L) 22,401 81,540
Zafgen, Inc. (I) 2,052 81,280
ZIOPHARM Oncology, Inc. (I)(L) 20,314 218,782
27,726,339
Health care equipment and supplies - 3.5%
Abaxis, Inc. 5,564 356,708
ABIOMED, Inc. (I) 9,889 707,855
Accuray, Inc. (I)(L) 19,769 183,852
Analogic Corp. 3,116 283,244
AngioDynamics, Inc. (I) 6,122 108,910
Anika Therapeutics, Inc. (I) 3,617 148,912
Antares Pharma, Inc. (I)(L) 32,192 87,240
AtriCure, Inc. (I) 7,001 143,450
Atrion Corp. 385 133,021
Cantel Medical Corp. 8,503 403,893
Cardiovascular Systems, Inc. (I) 6,868 268,127
Cerus Corp. (I)(L) 23,074 96,219
CONMED Corp. 6,726 339,596
CryoLife, Inc. 7,369 76,417
Cyberonics, Inc. (I)(L) 6,650 431,718
Cynosure, Inc., Class A (I) 5,653 173,378
Derma Sciences, Inc. (I) 6,875 58,231
DexCom, Inc. (I) 18,522 1,154,661
Endologix, Inc. (I) 16,159 275,834
Exactech, Inc. (I) 2,738 70,175
GenMark Diagnostics, Inc. (I) 10,867 141,054
Globus Medical, Inc., Class A (I) 16,312 411,715
Greatbatch, Inc. (I) 6,163 356,530
Haemonetics Corp. (I) 12,868 578,031
HeartWare International, Inc. (I) 4,259 373,812
ICU Medical, Inc. (I) 3,363 313,230
Insulet Corp. (I) 13,755 458,729
Integra LifeSciences Holdings Corp. (I) 6,259 385,867
Invacare Corp. 8,264 160,404
K2M Group Holdings, Inc. (I) 2,216 48,863
LDR Holding Corp. (I) 4,227 154,877
Masimo Corp. (I) 11,215 369,871
Meridian Bioscience, Inc. 10,540 201,103
Merit Medical Systems, Inc. (I) 10,786 207,631
Natus Medical, Inc. (I) 7,936 313,234
Neogen Corp. (I) 9,096 425,056
Nevro Corp. (I) 2,027 97,154
NuVasive, Inc. (I) 11,522 529,897
NxStage Medical, Inc. (I) 15,334 265,278
Ocular Therapeutix, Inc. (I)(L) 1,556 65,329
OraSure Technologies, Inc. (I) 14,424 94,333
Orthofix International NV (I) 4,593 164,843
Oxford Immunotec Global PLC (I) 3,994 56,236
Quidel Corp. (I) 7,193 194,067
Rockwell Medical, Inc. (I)(L) 12,139 132,679
RTI Surgical, Inc. (I) 15,917 78,630
Spectranetics Corp. (I)(L) 10,245 356,116
STAAR Surgical Company (I)(L) 10,182 75,652
STERIS Corp. 14,519 1,020,250
SurModics, Inc. (I) 3,929 102,272
Thoratec Corp. (I) 14,049 588,513
Tornier NV (I) 8,824 231,365
Unilife Corp. (I)(L) 28,278 113,395
Utah Medical Products, Inc. 1,396 83,565
Vascular Solutions, Inc. (I) 4,290 130,073
West Pharmaceutical Services, Inc. 17,490 1,053,073
Wright Medical Group, Inc. (I) 12,515 322,887
Zeltiq Aesthetics, Inc. (I) 7,222 222,654
16,379,709
Health care providers and services - 2.6%
AAC Holdings, Inc. (I)(L) 1,607 49,142
Acadia Healthcare Company, Inc. (I) 10,656 762,970
Aceto Corp. 7,297 160,534
Addus HomeCare Corp. (I) 1,777 40,907
Adeptus Health, Inc., Class A (I)(L) 1,538 77,238
Air Methods Corp. (I) 9,722 452,948
Almost Family, Inc. (I) 2,277 101,805
Amedisys, Inc. (I) 6,802 182,158
AMN Healthcare Services, Inc. (I) 11,529 265,974
Amsurg Corp. (I) 10,454 643,130
Bio-Reference Labs, Inc. (I) 6,205 218,664
BioScrip, Inc. (I)(L) 18,067 80,037
BioTelemetry, Inc. (I) 7,380 65,313
Capital Senior Living Corp. (I) 7,298 189,310
Chemed Corp. 4,266 509,360
Civitas Solutions, Inc. (I) 3,298 69,060
CorVel Corp. (I) 2,769 95,281
Cross Country Healthcare, Inc. (I) 7,811 92,638
ExamWorks Group, Inc. (I) 8,590 357,516
Five Star Quality Care, Inc. (I) 12,217 54,243
Genesis Healthcare, Inc. (I) 6,832 48,644
Hanger, Inc. (I) 8,897 201,873
HealthEquity, Inc. (I) 2,751 68,747
HealthSouth Corp. 21,838 968,734
Healthways, Inc. (I) 7,926 156,142
IPC Healthcare, Inc. (I) 4,261 198,733
Kindred Healthcare, Inc. 19,422 462,049
Landauer, Inc. 2,526 88,764
LHC Group, Inc. (I) 3,104 102,525
Magellan Health, Inc. (I) 6,839 484,338
Molina Healthcare, Inc. (I) 7,417 499,090
National Healthcare Corp. 2,551 162,524
National Research Corp., Class A 2,493 35,899
Owens & Minor, Inc. 15,309 518,057
PharMerica Corp. (I) 7,497 211,340
RadNet, Inc. (I) 8,203 68,905
Select Medical Holdings Corp. 19,748 292,863
Surgical Care Affiliates, Inc. (I) 3,142 107,865
Team Health Holdings, Inc. (I) 17,428 1,019,712
The Ensign Group, Inc. 5,018 235,143
The Providence Service Corp. (I) 2,874 152,667
Triple-S Management Corp., Class B (I) 6,220 123,654
Universal American Corp. (I) 10,675 114,009
US Physical Therapy, Inc. 3,067 145,683
WellCare Health Plans, Inc. (I) 10,816 989,231
11,925,419

The accompanying notes are an integral part of the financial statements. 192


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Small Cap Index Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Health care technology - 0.5%
Castlight Health, Inc., B Shares (I)(L) 3,764 $ 29,209
Computer Programs & Systems, Inc. (L) 2,796   151,711
HealthStream, Inc. (I) 5,183 130,612
HMS Holdings Corp. (I) 21,977 339,545
MedAssets, Inc. (I) 15,324 288,398
Medidata Solutions, Inc. (I) 13,453 659,735
Merge Healthcare, Inc. (I) 19,999 89,396
Omnicell, Inc. (I) 9,174   322,007
Quality Systems, Inc. 12,231 195,451
Vocera Communications, Inc. (I) 6,646 65,928
2,271,992
Life sciences tools and services - 0.6%
Accelerate Diagnostics, Inc. (I)(L) 5,707 128,408
Affymetrix, Inc. (I) 18,072 226,984
Albany Molecular Research, Inc. (I)(L) 5,946 104,650
Cambrex Corp. (I) 7,747 307,014
Enzo Biochem, Inc. (I) 10,365 30,577
Fluidigm Corp. (I) 7,003 294,826
Luminex Corp. (I) 9,472 151,552
NanoString Technologies, Inc. (I) 3,286 33,484
Pacific Biosciences of California, Inc. (I)(L) 14,840 86,666
PAREXEL International Corp. (I) 14,089 972,000
PRA Health Sciences, Inc. (I) 4,940 142,470
Sequenom, Inc. (I)(L) 31,249 123,434
2,602,065
Pharmaceuticals - 1.9%
AcelRx Pharmaceuticals, Inc. (I)(L) 7,417 28,630
Aerie Pharmaceuticals, Inc. (I) 2,578 80,795
Akorn, Inc. (I) 15,405 731,892
Alimera Sciences, Inc. (I) 8,089 40,526
Ampio Pharmaceuticals, Inc. (I)(L) 11,094 83,538
ANI Pharmaceuticals, Inc. (I)(L) 1,697 106,147
Aratana Therapeutics, Inc. (I) 7,356 117,770
Bio-Path Holdings, Inc. (I) 17,710 31,878
BioDelivery Sciences International, Inc. (I) 10,599 111,290
Catalent, Inc. (I) 12,102 376,977
Cempra, Inc. (I) 7,462 256,021
Chelsea Therapeutics International, Ltd. (I) 21,039 1,683
Corcept Therapeutics, Inc. (I) 16,674 93,374
Depomed, Inc. (I) 14,533 325,685
Endocyte, Inc. (I)(L) 10,576 66,206
Furiex Pharmaceuticals, Inc. (I) 1,752 14,261
Horizon Pharma, Inc. (I) 16,207 420,896
IGI Laboratories, Inc. (I)(L) 8,263 67,426
Impax Laboratories, Inc. (I) 17,421 816,522
Intra-Cellular Therapies, Inc. (I) 4,159 99,317
Lannett Company, Inc. (I) 6,444 436,323
Nektar Therapeutics (I) 31,827 350,097
Omeros Corp. (I)(L) 8,377 184,545
Pacira Pharmaceuticals, Inc. (I) 8,834 784,901
Pernix Therapeutics Holdings (I) 8,582 91,742
Phibro Animal Health Corp., Class A 3,673 130,061
POZEN, Inc. (I) 7,367 56,873
Prestige Brands Holdings, Inc. (I) 12,986 556,970
Relypsa, Inc. (I) 4,144 149,474
Repros Therapeutics, Inc. (I) 6,134 52,691
Revance Therapeutics, Inc. (I) 2,523 52,302
Sagent Pharmaceuticals, Inc. (I) 5,525 128,456
SciClone Pharmaceuticals, Inc. (I) 13,385 118,591
Sucampo Pharmaceuticals, Inc., Class A (I)(L) 4,427 68,884
Supernus Pharmaceuticals, Inc. (I) 7,748 93,673
Tetraphase Pharmaceuticals, Inc. (I) 6,469 237,024
The Medicines Company (I) 16,295 456,586
TherapeuticsMD, Inc. (I) 28,104 170,029
Theravance Biopharma, Inc. (I) 6,195 107,483
Theravance, Inc. (L) 20,645 324,539
Trius Therapeutics, Inc. (I)(L) 10,401 1,144
VIVUS, Inc. (I)(L) 25,292 62,218
XenoPort, Inc. (I) 14,662 104,393
Zogenix, Inc. (I)(L) 38,294 52,463
ZS Pharma, Inc. (I) 1,685 70,905
8,713,201
69,618,725
Industrials - 13.4%
Aerospace and defense - 1.7%
AAR Corp. 9,778 300,185
Aerovironment, Inc. (I) 4,737 125,578
American Science & Engineering, Inc. 1,982 96,841
Astronics Corp. (I) 4,720 347,864
Cubic Corp. 5,170 267,651
Curtiss-Wright Corp. 11,828 874,562
DigitalGlobe, Inc. (I) 18,750 638,813
Ducommun, Inc. (I) 2,937 76,068
Engility Holdings, Inc. 4,429 133,047
Esterline Technologies Corp. (I) 7,835 896,481
GenCorp, Inc. (I) 14,884 345,160
HEICO Corp. 16,525 1,009,182
Kratos Defense & Security Solutions, Inc. (I) 13,216 73,084
Moog, Inc., Class A (I) 10,187 764,534
National Presto Industries, Inc. 1,232 78,096
Orbital ATK, Inc. 6,819 522,540
Sparton Corp. (I) 2,735 67,008
TASER International, Inc. (I) 13,487 325,172
Teledyne Technologies, Inc. (I) 9,238 985,972
The KEYW Holding Corp. (I)(L) 8,572 70,548
7,998,386
Air freight and logistics - 0.5%
Air Transport Services Group, Inc. (I) 13,027 120,109
Atlas Air Worldwide Holdings, Inc. (I) 6,344 272,919
Echo Global Logistics, Inc. (I) 5,836 159,089
Forward Air Corp. 7,734 419,956
Hub Group, Inc., Class A (I) 9,216 362,097
Park-Ohio Holdings Corp. 2,230 117,454
UTi Worldwide, Inc. (I) 22,673 278,878
XPO Logistics, Inc. (I) 12,990 590,655
2,321,157
Airlines - 0.6%
Allegiant Travel Company 3,386 651,094
Hawaiian Holdings, Inc. (I) 11,057 243,530
JetBlue Airways Corp. (I) 61,044 1,175,097
Republic Airways Holdings, Inc. (I) 12,497 171,834
SkyWest, Inc. 12,891 188,338
Virgin America, Inc. (I) 3,833 116,523
2,546,416
Building products - 0.8%
AAON, Inc. 10,485 257,197
Advanced Drainage Systems, Inc. 3,913 117,155
American Woodmark Corp. (I) 3,083 168,733
Apogee Enterprises, Inc. 7,329 316,613
Builders FirstSource, Inc. (I) 12,375 82,541
Continental Building Products, Inc. (I) 2,898 65,466
Gibraltar Industries, Inc. (I) 8,019 131,592

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Small Cap Index Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Building products (continued)
Griffon Corp. 9,869 $ 172,017
Insteel Industries, Inc. 4,571 98,871
Masonite International Corp. (I) 7,299 490,931
NCI Building Systems, Inc. (I) 7,013 121,185
Nortek, Inc. (I) 2,306 203,505
Patrick Industries, Inc. (I) 2,022 125,910
PGT, Inc. (I) 11,930 133,318
Ply Gem Holdings, Inc. (I) 5,693 74,009
Quanex Building Products Corp. 9,255 182,694
Simpson Manufacturing Company, Inc. 10,375 387,714
Trex Company, Inc. (I) 8,419 459,088
Universal Forest Products, Inc. 5,059 280,673
3,869,212
Commercial services and supplies - 2.1%
ABM Industries, Inc. 13,939 444,097
ACCO Brands Corp. (I) 28,075 233,303
ARC Document Solutions, Inc. (I) 10,299 95,060
Brady Corp., Class A 11,982 338,971
Casella Waste Systems, Inc., Class A (I) 12,524 68,882
Ceco Environmental Corp. (L) 5,654 59,989
Civeo Corp. 23,534 59,776
Deluxe Corp. 12,323 853,737
Ennis, Inc. 6,372 89,973
G&K Services, Inc., Class A 4,999 362,577
Healthcare Services Group, Inc. 17,611 565,841
Herman Miller, Inc. 14,818 411,348
HNI Corp. 11,179 616,745
InnerWorkings, Inc. (I) 9,341 62,772
Interface, Inc. 16,654 346,070
Kimball International, Inc., Class B 9,213 96,552
Knoll, Inc. 12,251 287,041
Matthews International Corp., Class A 7,518 387,252
McGrath RentCorp. 6,346 208,847
Mobile Mini, Inc. 11,712 499,400
MSA Safety, Inc. 7,306 364,423
Multi-Color Corp. 3,109 215,547
Performant Financial Corp. (I) 8,674 29,492
Quad/Graphics, Inc. 6,783 155,873
SP Plus Corp. (I) 3,859 84,319
Steelcase, Inc., Class A 20,687 391,812
Team, Inc. (I) 5,014 195,446
Tetra Tech, Inc. 16,101 386,746
The Brink’s Company 12,148 335,649
UniFirst Corp. 3,580 421,330
United Stationers, Inc. 9,864 404,325
US Ecology, Inc. 5,426 271,137
Viad Corp. 5,156 143,440
West Corp. 9,523 321,211
9,808,983
Construction and engineering - 0.7%
Aegion Corp. (I) 9,577 172,865
Ameresco, Inc., Class A (I) 6,057 44,822
Argan, Inc. 3,095 111,946
Comfort Systems USA, Inc. 9,391 197,587
Dycom Industries, Inc. (I) 8,502 415,238
EMCOR Group, Inc. 16,620 772,331
Furmanite Corp. (I) 10,590 83,555
Granite Construction, Inc. 9,792 344,091
Great Lakes Dredge & Dock Corp. (I) 14,615 87,836
Layne Christensen Company (I)(L) 6,039 30,255
MasTec, Inc. (I) 16,401 316,539
MYR Group, Inc. (I) 5,415 169,706
Northwest Pipe Company (I) 2,581 59,234
Orion Marine Group, Inc. (I) 7,398 65,546
Primoris Services Corp. 9,327 160,331
Tutor Perini Corp. (I) 9,334 217,949
3,249,831
Electrical equipment - 1.0%
AZZ, Inc. 6,406 298,456
Capstone Turbine Corp. (I)(L) 96,117 62,476
Encore Wire Corp. 5,174 195,991
EnerSys 11,501 738,824
Enphase Energy, Inc. (I)(L) 4,585 60,476
Franklin Electric Company, Inc. 11,792 449,747
FuelCell Energy, Inc. (I)(L) 61,950 77,438
Generac Holdings, Inc. (I)(L) 16,862 821,011
General Cable Corp. 11,873 204,572
Global Power Equipment Group, Inc. 4,654 61,433
GrafTech International, Ltd. (I) 30,454 118,466
LSI Industries, Inc. 7,009 57,123
Plug Power, Inc. (I)(L) 42,180 109,246
Polypore International, Inc. (I) 11,118 654,850
Powell Industries, Inc. 2,366 79,900
Power Solutions International, Inc. (I) 1,102 70,848
PowerSecure International, Inc. (I) 5,592 73,591
Preformed Line Products Company 787 33,156
Thermon Group Holdings, Inc. (I) 8,057 193,932
Vicor Corp. (I) 4,121 62,639
4,424,175
Industrial conglomerates - 0.0%
Raven Industries, Inc. 9,096 186,104
Machinery - 2.9%
Accuride Corp. (I) 11,100 51,726
Actuant Corp., Class A 15,212 361,133
Alamo Group, Inc. 1,840 116,159
Albany International Corp., Class A 6,929 275,428
Altra Industrial Motion Corp. 6,851 189,362
American Railcar Industries, Inc. (L) 2,346 116,667
Astec Industries, Inc. 4,729 202,780
Barnes Group, Inc. 13,417 543,254
Blount International, Inc. (I) 12,507 161,090
Briggs & Stratton Corp. 11,651 239,312
Chart Industries, Inc. (I) 7,639 267,938
CIRCOR International, Inc. 4,445 243,142
CLARCOR, Inc. 12,222 807,385
Columbus McKinnon Corp. 4,897 131,925
Commercial Vehicle Group, Inc. (I) 8,057 51,887
Douglas Dynamics, Inc. 5,445 124,364
Dynamic Materials Corp. 4,233 54,055
Energy Recovery, Inc. (I)(L) 11,287 29,233
EnPro Industries, Inc. 5,625 370,969
ESCO Technologies, Inc. 6,700 261,166
Federal Signal Corp. 15,797 249,435
FreightCar America, Inc. 3,027 95,139
Global Brass & Copper Holdings, Inc. 5,704 88,127
Graham Corp. 2,663 63,832
Harsco Corp. 20,243 349,394
Hillenbrand, Inc. 15,498 478,423
Hurco Companies, Inc. 1,752 57,693
Hyster-Yale Materials Handling, Inc. 2,570 188,355
John Bean Technologies Corp. 7,157 255,648
Kadant, Inc. 2,777 146,098
LB Foster Company, Class A 2,556 121,359
Lindsay Corp. (L) 3,011 229,589

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Small Cap Index Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Machinery (continued)
Lydall, Inc. (I) 4,275 $ 135,603
Manitex International, Inc. (I)(L) 3,576 34,794
Meritor, Inc. (I) 24,513 309,109
Miller Industries, Inc. 2,823 69,164
Mueller Industries, Inc. 14,085 508,891
Mueller Water Products, Inc., Class A 39,554 389,607
NN, Inc. 4,446 111,506
Proto Labs, Inc. (I) 5,586 391,020
RBC Bearings, Inc. 5,818 445,310
Rexnord Corp. (I) 18,599 496,407
Standex International Corp. 3,137 257,642
Sun Hydraulics Corp. 5,570 230,375
Tennant Company 4,596 300,441
The ExOne Company (I)(L) 2,794 38,138
The Gorman-Rupp Company 4,726 141,544
The Greenbrier Companies, Inc. (L) 6,800 394,400
Titan International, Inc. (L) 11,303 105,796
TriMas Corp. (I) 11,344 349,282
Wabash National Corp. (I) 17,331 244,367
Watts Water Technologies, Inc., Class A 6,951 382,514
Woodward, Inc. 16,418 837,482
Xerium Technologies, Inc. (I) 3,477 56,397
13,151,856
Marine - 0.2%
Knightsbridge Shipping, Ltd. (L) 8,584 42,920
Matson, Inc. 10,612 447,402
Navios Maritime Holdings, Inc. (L) 20,706 86,551
Safe Bulkers, Inc. (L) 9,992 35,871
Scorpio Bulkers, Inc. (I)(L) 35,723 84,664
697,408
Professional services - 1.4%
Acacia Research Corp. 12,655 135,409
Barrett Business Services, Inc. 1,933 82,810
CBIZ, Inc. (I) 11,955 111,540
CDI Corp. 3,531 49,611
CRA International, Inc. (I) 2,516 78,298
Exponent, Inc. 3,228 286,969
Franklin Covey Company (I) 2,786 53,658
FTI Consulting, Inc. (I) 10,095 378,159
GP Strategies Corp. (I) 3,464 128,168
Heidrick & Struggles International, Inc. 4,516 111,003
Huron Consulting Group, Inc. (I) 5,901 390,351
ICF International, Inc. (I) 5,046 206,129
Insperity, Inc. 5,685 297,269
Kelly Services, Inc., Class A 6,837 119,237
Kforce, Inc. 6,447 143,833
Korn/Ferry International 12,470 409,889
Mistras Group, Inc. (I) 4,063 78,253
Navigant Consulting, Inc. (I) 12,074 156,479
On Assignment, Inc. (I) 13,493 517,726
Paylocity Holding Corp. (I) 2,181 62,464
Pendrell Corp. (I) 41,472 53,914
Resources Connection, Inc. 9,660 169,050
RPX Corp. (I) 13,286 191,186
The Advisory Board Company (I) 10,424 555,391
The Corporate Executive Board Company 8,370 668,428
TriNet Group, Inc. (I) 3,831 134,966
TrueBlue, Inc. (I) 10,363 252,339
VSE Corp. 1,113 91,132
WageWorks, Inc. (I) 8,728 465,464
6,379,125
Road and rail - 0.7%
ArcBest Corp. 6,520 247,043
Celadon Group, Inc. 5,241 142,660
Heartland Express, Inc. 13,345 317,077
Knight Transportation, Inc. 14,635 471,979
Marten Transport, Ltd. 6,069 140,801
P.A.M. Transportation Services, Inc. (I) 727 41,635
Patriot Transportation Holding, Inc. (I) 556 13,883
Quality Distribution, Inc. (I) 8,045 83,105
Roadrunner Transportation Systems, Inc. (I) 6,944 175,475
Saia, Inc. (I) 6,193 274,350
Swift Transportation Company (I) 20,908 544,026
Universal Truckload Services, Inc. 1,642 41,346
USA Truck, Inc. (I) 1,847 51,143
Werner Enterprises, Inc. 10,873 341,521
YRC Worldwide, Inc. (I) 7,855 141,076
3,027,120
Trading companies and distributors - 0.8%
Aircastle, Ltd. 15,938 357,967
Applied Industrial Technologies, Inc. 10,301 467,047
Beacon Roofing Supply, Inc. (I) 12,354 386,680
CAI International, Inc. (I) 4,110 100,983
DXP Enterprises, Inc. (I) 3,226 142,234
H&E Equipment Services, Inc. 7,840 195,922
Houston Wire & Cable Company 4,441 43,211
Kaman Corp. 6,826 289,627
Rush Enterprises, Inc., Class A (I) 8,633 236,199
Stock Building Supply Holdings, Inc. (I) 4,105 74,136
TAL International Group, Inc. (I) 8,521 347,060
Textainer Group Holdings, Ltd. (L) 5,401 161,976
Titan Machinery, Inc. (I)(L) 4,849 64,734
Watsco, Inc. 6,248 785,374
3,653,150
Transportation infrastructure - 0.0%
Wesco Aircraft Holdings, Inc. (I) 13,230 202,684
61,515,607
Information technology - 17.4%
Communications equipment - 1.5%
ADTRAN, Inc. 14,141 264,012
Alliance Fiber Optic Products, Inc. 3,618 63,026
Applied Optoelectronics, Inc. (I)(L) 3,890 53,993
Aruba Networks, Inc. (I) 26,392 646,340
Bel Fuse, Inc., Class B 2,674 50,886
Black Box Corp. 3,937 82,401
CalAmp Corp. (I) 9,116 147,588
Calix, Inc. (I) 10,409 87,332
Ciena Corp. (I) 26,333 508,490
Clearfield, Inc. (I)(L) 3,252 48,195
Comtech Telecommunications Corp. 3,885 112,471
Digi International, Inc. (I) 7,209 71,946
Emulex Corp. (I) 18,025 143,659
Extreme Networks, Inc. (I) 25,715 81,259
Finisar Corp. (I) 25,572 545,706
Harmonic, Inc. (I) 22,429 166,199
Infinera Corp. (I) 30,533 600,584
InterDigital, Inc. 9,167 465,134
Ixia (I) 14,564 176,661
KVH Industries, Inc. (I) 3,977 60,132
NETGEAR, Inc. (I) 8,516 280,006
Numerex Corp., Class A (I) 3,669 41,827
Oclaro, Inc. (I)(L) 28,254 55,943
Plantronics, Inc. 10,433 552,427

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Small Cap Index Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Communications equipment (continued)
Polycom, Inc. (I) 34,089 $ 456,793
Procera Networks, Inc. (I)(L) 6,026 56,584
Ruckus Wireless, Inc. (I) 15,843 203,899
ShoreTel, Inc. (I) 16,066 109,570
Sonus Networks, Inc. (I) 12,393 97,657
TESSCO Technologies, Inc. 1,629 40,171
Ubiquiti Networks, Inc. (L) 7,465 220,591
ViaSat, Inc. (I) 10,306 614,341
7,105,823
Electronic equipment, instruments and components - 2.6%
Agilysys, Inc. (I) 3,898 38,356
Anixter International, Inc. (I) 6,670 507,787
Badger Meter, Inc. 3,643 218,361
Belden, Inc. 10,797 1,010,167
Benchmark Electronics, Inc. (I) 13,115 315,153
Checkpoint Systems, Inc. 10,457 113,145
Cognex Corp. (I) 21,553 1,068,813
Coherent, Inc. (I) 6,249 405,935
Control4 Corp. (I)(L) 2,829 33,891
CTS Corp. 8,592 154,570
CUI Global, Inc. (I)(L) 5,811 34,052
Daktronics, Inc. 9,454 102,198
DTS, Inc. (I) 4,254 144,934
Electro Rent Corp. 4,086 46,335
Electro Scientific Industries, Inc. 6,405 39,583
Fabrinet (I) 8,927 169,524
FARO Technologies, Inc. (I) 4,345 269,955
FEI Company 10,405 794,318
GSI Group, Inc. (I) 7,780 103,630
II-VI, Inc. (I) 13,172 243,155
Insight Enterprises, Inc. (I) 10,278 293,129
InvenSense, Inc. (I)(L) 17,819 271,027
Itron, Inc. (I) 9,738 355,534
KEMET Corp. (I) 13,435 55,621
Kimball Electronics, Inc. (I) 6,471 91,500
Littelfuse, Inc. 5,594 555,988
Maxwell Technologies, Inc. (I)(L) 7,996 64,448
Mercury Systems, Inc. (I) 8,444 131,304
Mesa Laboratories, Inc. 734 52,995
Methode Electronics, Inc. 9,348 439,730
MTS Systems Corp. 3,799 287,394
Newport Corp. (I) 10,022 191,019
OSI Systems, Inc. (I) 4,932 366,250
Park Electrochemical Corp. 5,181 111,702
PC Connection, Inc. 2,481 64,729
Plexus Corp. (I) 8,391 342,101
RealD, Inc. (I) 10,324 132,044
Rofin-Sinar Technologies, Inc. (I) 6,985 169,247
Rogers Corp. (I) 4,540 373,233
Sanmina Corp. (I) 20,459 494,903
ScanSource, Inc. (I) 7,186 292,111
Speed Commerce, Inc. (I) 15,877 10,141
SYNNEX Corp. 6,988 539,823
TTM Technologies, Inc. (I) 13,684 123,293
Universal Display Corp. (I)(L) 10,053 469,978
Vishay Precision Group, Inc. (I) 3,198 50,944
12,144,050
Internet software and services - 2.2%
Actua Corp. (I) 10,573 163,776
Angie’s List, Inc. (I)(L) 12,053 70,751
Bankrate, Inc. (I) 16,377 185,715
Bazaarvoice, Inc. (I)(L) 13,428 75,868
Blucora, Inc. (I) 10,676 145,834
Brightcove, Inc. (I) 8,836 64,768
Carbonite, Inc. (I) 4,987 71,314
ChannelAdvisor Corp. (I) 5,522 53,508
Cimpress NV (I) 8,245 695,713
comScore, Inc. (I) 8,694 445,133
Constant Contact, Inc. (I) 7,762 296,586
Cornerstone OnDemand, Inc. (I) 13,329 385,075
Coupons.com, Inc. (I)(L) 3,111 36,523
Cvent, Inc. (I)(L) 4,509 126,432
Dealertrack Technologies, Inc. (I) 13,433 517,439
Demandware, Inc. (I) 7,459 454,253
Dice Holdings, Inc. (I) 9,723 86,729
EarthLink Holdings Corp. 27,951 124,102
Endurance International
       Group Holdings, Inc. (I)(L) 7,574 144,360
Envestnet, Inc. (I) 8,454 474,100
Gogo, Inc. (I)(L) 14,423 274,902
GrubHub, Inc. (I) 2,202 99,949
GTT Communications, Inc. (I) 4,649 87,773
Internap Corp. (I) 13,879 141,982
IntraLinks Holdings, Inc. (I) 10,436 107,908
j2 Global, Inc. 11,783 773,907
Limelight Networks, Inc. (I) 18,451 66,977
Liquidity Services, Inc. (I)(L) 7,132 70,464
LivePerson, Inc. (I) 13,603 139,227
LogMeIn, Inc. (I) 6,087 340,811
Marchex, Inc., Class B 10,320 42,106
Marin Software, Inc. (I) 7,834 49,276
Marketo, Inc. (I) 6,406 164,122
Millennial Media, Inc. (I)(L) 22,500 32,625
Monster Worldwide, Inc. (I) 23,391 148,299
NIC, Inc. 16,049 283,586
Perficient, Inc. (I) 8,731 180,644
Q2 Holdings, Inc. (I) 2,643 55,873
QuinStreet, Inc. (I) 9,858 58,655
RealNetworks, Inc. (I) 8,080 54,378
Reis, Inc. 2,067 52,998
RetailMeNot, Inc. (I) 7,496 135,003
Rocket Fuel, Inc. (I)(L) 4,928 45,338
SciQuest, Inc. (I) 7,465 126,382
Shutterstock, Inc. (I) 3,822 262,457
SPS Commerce, Inc. (I) 4,036 270,816
Stamps.com, Inc. (I) 3,480 234,169
TechTarget, Inc. (I) 5,008 57,742
Textura Corp. (I) 4,680 127,202
TrueCar, Inc. (I)(L) 2,003 35,754
Unwired Planet, Inc. (I) 30,483 17,430
Web.com Group, Inc. (I) 13,049 247,279
WebMD Health Corp. (I) 9,650 423,008
Wix.com, Ltd. (I)(L) 3,539 67,807
XO Group, Inc. (I) 7,201 127,242
Xoom Corp. (I)(L) 7,966 117,021
10,139,091
IT services - 2.4%
Acxiom Corp. (I) 19,293 356,728
Blackhawk Network Holdings, Inc. (I)(L) 13,254 474,096
CACI International, Inc., Class A (I) 5,757 517,669
Cardtronics, Inc. (I) 11,167 419,879
Cass Information Systems, Inc. 2,931 164,546
Ciber, Inc. (I) 21,663 89,252
Convergys Corp. 25,140 574,952
CSG Systems International, Inc. 8,395 255,124

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Small Cap Index Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
IT services (continued)
Datalink Corp. (I) 5,260 $ 63,330
EPAM Systems, Inc. (I) 8,822 540,700
Euronet Worldwide, Inc. (I) 12,634 742,248
EVERTEC, Inc. 16,247 355,159
ExlService Holdings, Inc. (I) 8,222 305,858
Forrester Research, Inc. 2,714 99,821
Global Cash Access Holdings, Inc. (I) 16,526 125,928
Heartland Payment Systems, Inc. 8,903 417,106
Higher One Holdings, Inc. (I) 10,147 24,556
iGATE Corp. (I) 9,154 390,510
Information Services Group, Inc. 8,182 32,646
Lionbridge Technologies, Inc. (I) 16,231 92,841
Luxoft Holding, Inc. (I) 1,968 101,824
ManTech International Corp., Class A 6,067 205,914
MAXIMUS, Inc. 16,660 1,112,222
MoneyGram International, Inc. (I) 8,334 72,006
NeuStar, Inc., Class A (I)(L) 14,063 346,231
Science Applications International Corp. 9,712 498,711
ServiceSource International, Inc. (I) 18,963 58,785
Sykes Enterprises, Inc. (I) 9,932 246,810
Syntel, Inc. (I) 7,618 394,079
TeleTech Holdings, Inc. 4,426 112,642
The Hackett Group, Inc. 6,843 61,176
Unisys Corp. (I) 12,635 293,258
Virtusa Corp. (I) 6,566 271,701
WEX, Inc. (I) 9,596 1,030,227
10,848,535
Semiconductors and semiconductor equipment - 3.9%
Advanced Energy Industries, Inc. (I) 10,214 262,091
Alpha & Omega Semiconductor, Ltd. (I) 5,491 48,925
Ambarella, Inc. (I)(L) 7,140 540,569
Amkor Technology, Inc. (I) 21,535 190,262
Applied Micro Circuits Corp. (I) 20,007 102,036
Axcelis Technologies, Inc. (I) 30,484 72,552
Brooks Automation, Inc. 16,401 190,744
Cabot Microelectronics Corp. (I) 5,912 295,423
Cascade Microtech, Inc. (I) 3,409 46,294
Cavium, Inc. (I) 13,113 928,663
CEVA, Inc. (I) 5,267 112,292
Cirrus Logic, Inc. (I) 15,337 510,109
Cohu, Inc. 6,351 69,480
Cypress Semiconductor Corp. (I) 75,169 1,060,635
Diodes, Inc. (I) 8,930 255,041
DSP Group, Inc. (I) 5,583 66,884
Entegris, Inc. (I) 34,242 468,773
Entropic Communications, Inc. (I) 24,794 73,390
Exar Corp. (I) 9,811 98,601
Fairchild Semiconductor International, Inc. (I) 31,020 563,944
FormFactor, Inc. (I) 14,581 129,333
Inphi Corp. (I) 7,895 140,768
Integrated Device Technology, Inc. (I) 33,065 661,961
Integrated Silicon Solution, Inc. 7,596 135,892
Intersil Corp., Class A 31,552 451,825
IXYS Corp. 6,123 75,435
Kopin Corp. (I) 18,741 65,968
Lattice Semiconductor Corp. (I) 28,797 182,573
M/A-COM Technology
       Solutions Holdings, Inc. (I) 2,932 109,246
MaxLinear, Inc., Class A (I) 7,425 60,365
Micrel, Inc. 11,048 166,604
Microsemi Corp. (I) 23,199 821,245
MKS Instruments, Inc. 13,298 449,605
Monolithic Power Systems, Inc. 9,595 505,177
Nanometrics, Inc. (I) 6,268 105,428
NVE Corp. 1,215 83,738
OmniVision Technologies, Inc. (I) 13,824 364,539
PDF Solutions, Inc. (I) 8,083 144,847
Pericom Semiconductor Corp. 5,598 86,601
Photronics, Inc. (I) 16,988 144,398
PMC-Sierra, Inc. (I) 42,391 393,388
Power Integrations, Inc. 7,476 389,350
Qorvo, Inc. (I) 35,486 2,828,234
QuickLogic Corp. (I)(L) 16,201 31,268
Rambus, Inc. (I) 28,526 358,714
Rudolph Technologies, Inc. (I) 8,787 96,833
Semtech Corp. (I) 16,586 441,934
Silicon Laboratories, Inc. (I) 10,684 542,427
Synaptics, Inc. (I) 8,928 725,891
Tessera Technologies, Inc. 13,091 527,305
Ultra Clean Holdings, Inc. (I) 7,365 52,660
Ultratech, Inc. (I) 6,980 121,033
Veeco Instruments, Inc. (I) 10,046 306,905
Vitesse Semiconductor Corp. (I) 15,973 84,817
Xcerra Corp. (I) 13,154 116,939
17,859,954
Software - 4.4%
ACI Worldwide, Inc. (I) 28,521 617,765
Advent Software, Inc. 12,898 568,931
American Software, Inc., Class A 6,177 63,129
Aspen Technology, Inc. (I) 22,853 879,612
AVG Technologies NV (I) 8,734 189,091
Barracuda Networks, Inc. (I) 1,995 76,748
Blackbaud, Inc. 11,468 543,354
Bottomline Technologies, Inc. (I) 9,869 270,115
BroadSoft, Inc. (I) 7,231 241,949
Callidus Software, Inc. (I) 12,453 157,904
CommVault Systems, Inc. (I) 11,831 517,015
Comverse, Inc. (I) 5,937 116,959
Digimarc Corp. (L) 1,793 39,356
Ebix, Inc. 7,660 232,711
Ellie Mae, Inc. (I) 6,962 385,068
EnerNOC, Inc. (I) 6,750 76,950
Epiq Systems, Inc. 7,785 139,585
ePlus, Inc. (I) 1,298 112,835
Fair Isaac Corp. 7,988 708,695
Fleetmatics Group PLC (I) 9,342 418,989
Gigamon, Inc. (I) 6,151 130,647
Glu Mobile, Inc. (I) 23,623 118,351
Guidewire Software, Inc. (I) 16,828 885,321
Imperva, Inc. (I) 5,503 234,978
Infoblox, Inc. (I) 13,544 323,295
Interactive Intelligence Group, Inc. (I) 4,200 172,956
Jive Software, Inc. (I) 12,538 64,320
Kofax Ltd. (I)(L) 18,592 203,582
Manhattan Associates, Inc. (I) 18,757 949,292
Mavenir Systems, Inc. (I) 3,406 60,422
Mentor Graphics Corp. 23,966 575,903
MicroStrategy, Inc., Class A (I) 2,251 380,847
Model N, Inc. (I) 5,466 65,373
Monotype Imaging Holdings, Inc. 9,903 323,234
NetScout Systems, Inc. (I)(L) 9,134 400,526
Paycom Software, Inc. (I) 1,633 52,354
Pegasystems, Inc. 8,915 193,901
Progress Software Corp. (I) 12,903 350,575
Proofpoint, Inc. (I) 9,190 544,232
PROS Holdings, Inc. (I) 6,187 152,881

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Small Cap Index Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Software (continued)
Qlik Technologies, Inc. (I) 22,259 $ 692,923
Qualys, Inc. (I) 5,016 233,144
Rally Software Development Corp. (I) 6,814 106,912
RealPage, Inc. (I) 12,862 259,041
Rosetta Stone, Inc. (I) 6,141 46,733
Sapiens International Corp. NV (I) 6,722 55,120
Seachange International, Inc. (I) 10,007 78,555
Silver Spring Networks, Inc. (I)(L) 9,798 87,594
SS&C Technologies Holdings, Inc. 16,833 1,048,696
Synchronoss Technologies, Inc. (I) 8,743 414,943
Take-Two Interactive Software, Inc. (I) 20,672 526,206
Tangoe, Inc. (I) 9,765 134,757
TeleCommunication Systems, Inc., Class A (I) 16,965 64,976
Telenav, Inc. (I) 8,482 67,177
The Ultimate Software Group, Inc. (I) 7,020 1,193,084
TiVo, Inc. (I) 25,871 274,491
Tyler Technologies, Inc. (I) 8,166 984,248
Varonis Systems, Inc. (I) 1,456 37,361
VASCO Data Security International, Inc. (I)(L) 7,201 155,110
Verint Systems, Inc. (I) 14,796 916,316
VirnetX Holding Corp. (I)(L) 12,579 76,606
Zendesk, Inc. (I) 2,849 64,644
Zix Corp. (I) 17,961 70,587
20,128,975
Technology hardware, storage and peripherals - 0.4%
Cray, Inc. (I) 10,080 283,046
Dot Hill Systems Corp. (I) 16,039 85,007
Eastman Kodak Company (I) 4,397 83,499
Electronics For Imaging, Inc. (I) 11,679 487,598
Immersion Corp. (I) 6,817 62,580
Intevac, Inc. (I) 5,892 36,177
Nimble Storage, Inc. (I)(L) 2,312 51,581
QLogic Corp. (I) 21,439 316,011
Quantum Corp. (I) 58,960 94,336
Silicon Graphics International Corp. (I) 9,475 82,338
Super Micro Computer, Inc. (I) 8,505 282,451
Violin Memory, Inc. (I)(L) 20,847 78,593
1,943,217
80,169,645
Materials - 4.3%
Chemicals - 2.1%
A. Schulman, Inc. 7,199 346,992
American Vanguard Corp. 7,833 83,186
Axiall Corp. 17,239 809,199
Balchem Corp. 7,623 422,162
Calgon Carbon Corp. 13,344 281,158
Chase Corp. 1,686 73,729
Chemtura Corp. (I) 18,018 491,711
Ferro Corp. (I) 17,734 222,562
Flotek Industries, Inc. (I) 13,422 197,840
FutureFuel Corp. 5,556 57,060
Hawkins, Inc. 2,656 100,901
HB Fuller Company 12,323 528,287
Innophos Holdings, Inc. 5,392 303,893
Innospec, Inc. 6,001 278,386
Intrepid Potash, Inc. (I) 14,042 162,185
KMG Chemicals, Inc. 2,448 65,435
Koppers Holdings, Inc. 5,097 100,309
Kraton Performance Polymers, Inc. (I) 8,125 164,206
Kronos Worldwide, Inc. 5,368 67,905
LSB Industries, Inc. (I) 4,810 198,797
Minerals Technologies, Inc. 8,514 622,373
Olin Corp. 19,433 622,633
OM Group, Inc. 7,934 238,258
OMNOVA Solutions, Inc. (I) 12,605 107,521
PolyOne Corp. 23,167 865,287
Quaker Chemical Corp. 3,333 285,438
Rentech, Inc. (I) 66,976 75,013
Senomyx, Inc. (I)(L) 12,060 53,185
Sensient Technologies Corp. 12,264 844,744
Stepan Company 4,859 202,426
Trecora Resources (I) 5,855 71,431
Tredegar Corp. 6,287 126,432
Trinseo SA (I)(L) 3,060 60,588
Tronox, Ltd., Class A 15,201 309,036
Zep, Inc. 5,834 99,353
9,539,621
Construction materials - 0.1%
Headwaters, Inc. (I) 18,048 331,000
U.S. Concrete, Inc. (I) 3,465 117,394
United States Lime & Minerals, Inc. 494 31,863
480,257
Containers and packaging - 0.5%
AEP Industries, Inc. (I) 1,029 56,636
Berry Plastics Group, Inc. (I) 22,007 796,433
Graphic Packaging Holding Company 80,237 1,166,646
Myers Industries, Inc. 6,991 122,552
UFP Technologies, Inc. (I) 1,715 39,068
2,181,335
Metals and mining - 0.9%
AK Steel Holding Corp. (I)(L) 44,091 197,087
Allied Nevada Gold Corp. (I) 41,257 4,538
AM Castle & Company (I)(L) 4,873 17,786
Ampco-Pittsburgh Corp. 2,316 40,437
Century Aluminum Company (I) 12,895 177,951
Coeur Mining, Inc. (I) 26,838 126,407
Commercial Metals Company 29,258 473,687
Globe Specialty Metals, Inc. 16,030 303,288
Handy & Harman, Ltd. (I) 1,098 45,084
Haynes International, Inc. 3,075 137,176
Hecla Mining Company 93,204 277,748
Horsehead Holding Corp. (I) 14,212 179,924
Kaiser Aluminum Corp. 4,445 341,776
Materion Corp. 5,102 196,070
Molycorp, Inc. (I)(L) 50,057 19,287
Noranda Aluminum Holding Corp. 11,321 33,623
Olympic Steel, Inc. 2,810 37,823
RTI International Metals, Inc. (I) 7,703 276,615
Schnitzer Steel Industries, Inc., Class A 6,605 104,755
Stillwater Mining Company (I) 29,651 383,091
SunCoke Energy, Inc. 16,655 248,826
Worthington Industries, Inc. 12,690 337,681
3,960,660
Paper and forest products - 0.7%
Boise Cascade Company (I) 9,730 364,486
Clearwater Paper Corp. (I) 5,115 334,010
Deltic Timber Corp. 2,758 182,718
KapStone Paper and Packaging Corp. 20,856 684,911
Louisiana-Pacific Corp. (I) 34,713 573,112
Neenah Paper, Inc. 4,170 260,792
PH Glatfelter Company 10,867 299,169
Resolute Forest Products, Inc. (I) 16,353 282,089

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Small Cap Index Trust (continued)

Shares or
Principal
  Amount       Value
COMMON STOCKS (continued)    
Paper and forest products (continued)    
Schweitzer-Mauduit International, Inc. 7,646 $ 352,634
Wausau Paper Corp. 10,589   100,913
3,434,834
19,596,707
Telecommunication services - 0.7%
Diversified telecommunication services - 0.6%
8x8, Inc. (I) 22,370 187,908
Atlantic Tele-Network, Inc. 2,357 163,152
Cincinnati Bell, Inc. (I) 52,925 186,825
Cogent Communications Holdings, Inc. 11,679 412,619
Consolidated Communications Holdings, Inc. 12,481 254,612
FairPoint Communications, Inc. (I)(L) 5,583 98,261
General Communication, Inc., Class A (I) 8,885 140,028
Globalstar, Inc. (I)(L) 68,907 229,460
Hawaiian Telcom Holdco, Inc. (I) 2,791 74,324
IDT Corp., Class B 4,291 76,165
inContact, Inc. (I) 15,459 168,503
Inteliquent, Inc. 8,232 129,572
Intelsat SA (I)(L) 6,845 82,140
Iridium Communications, Inc. (I)(L) 20,428 198,356
Lumos Networks Corp. 5,267 80,374
magicJack VocalTec, Ltd. (I)(L) 5,189 35,493
ORBCOMM, Inc. (I) 15,447 92,219
Premiere Global Services, Inc. (I) 12,036 115,064
Vonage Holdings Corp. (I) 42,877 210,526
2,935,601
Wireless telecommunication services - 0.1%
Boingo Wireless, Inc. (I) 7,148 53,896
Leap Wireless International, Inc. (I) 14,224 35,844
RingCentral, Inc., Class A (I) 7,312 112,093
Shenandoah Telecommunications Company 6,023 187,677
Spok Holdings, Inc. 5,745 110,132
499,642
3,435,243
Utilities - 3.4%
Electric utilities - 1.3%
ALLETE, Inc. 11,037 582,312
Cleco Corp. 14,889 811,748
El Paso Electric Company 10,056 388,564
IDACORP, Inc. 12,253 770,346
MGE Energy, Inc. 8,579 380,221
NRG Yield, Inc., Class A 5,970 302,858
Otter Tail Corp. 9,168 294,935
PNM Resources, Inc. 19,672 574,422
Portland General Electric Company 19,064 707,084
The Empire District Electric Company 10,910 270,786
UIL Holdings Corp. 13,976 718,646
Unitil Corp. 3,484 121,139
5,923,061
Gas utilities - 1.0%
Chesapeake Utilities Corp. 3,648 184,625
New Jersey Resources Corp. 20,758 644,743
Northwest Natural Gas Company 6,805 326,300
ONE Gas, Inc. 12,654 547,032
Piedmont Natural Gas Company, Inc. (L) 18,955 699,629
South Jersey Industries, Inc. 8,269 448,841
Southwest Gas Corp. 11,422 664,418
The Laclede Group, Inc. 10,464 535,966
WGL Holdings, Inc. 12,748 718,987  
4,770,541
Independent power and renewable electricity producers - 0.4%
Abengoa Yield PLC (L) 7,097 239,737
Atlantic Power Corp. 33,488 94,101
Dynegy, Inc. (I) 30,436 956,603
Ormat Technologies, Inc. (L) 4,463   169,683
Pattern Energy Group, Inc. 10,073 285,267
TerraForm Power, Inc., Class A (I) 7,040 257,030
Vivint Solar, Inc. (I)(L) 5,515 66,952
2,069,373
Multi-utilities - 0.4%
Avista Corp. 14,865 508,086
Black Hills Corp. 11,064 558,068
NorthWestern Corp. 11,462 616,541
1,682,695
Water utilities - 0.3%
American States Water Company 9,756 389,167
Artesian Resources Corp., Class A 4,286 91,678
California Water Service Group 11,798 289,169
Connecticut Water Service, Inc. 2,735 99,363
Middlesex Water Company 4,020 91,495
SJW Corp. 3,922 121,229
York Water Company 3,265 79,274
1,161,375
15,607,045
TOTAL COMMON STOCKS (Cost $286,020,949) $ 447,831,440
 
WARRANTS - 0.0%
Imperial Holdings, Inc. (Expiration
       Date: 04/11/2019) (I)(N) 1,261 1,082
Magnum Hunter Resources Corp. (Expiration
       Date: 04/15/2016; Strike Price: $8.50) (I)(L) 4,505 45
TOTAL WARRANTS (Cost $0) $ 1,127
 
SECURITIES LENDING COLLATERAL - 6.7%
John Hancock
       Collateral Trust, 0.1102% (W)(Y) 3,096,899 30,984,474
TOTAL SECURITIES LENDING
COLLATERAL (Cost $30,985,542) $ 30,984,474
 
SHORT-TERM INVESTMENTS - 2.5%
Repurchase agreement - 2.5%
Repurchase Agreement with State Street Corp.
       dated 03/31/2015 at 0.000% to be
       repurchased at $11,240,000 on 04/01/2015,  
       collateralized by $9,095,000 U.S. Treasury
       Bonds, 3.750% due 11/15/2043 (valued at
       $11,471,524, including interest) $ 11,240,000 11,240,000
TOTAL SHORT-TERM INVESTMENTS (Cost $11,240,000) $ 11,240,000
Total Investments (Small Cap Index Trust)
       (Cost $328,246,491) - 106.5% $ 490,057,041
Other assets and liabilities, net - (6.5%) (29,769,682 )
TOTAL NET ASSETS - 100.0% $ 460,287,359

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Small Cap Opportunities Trust

Shares or
Principal
Amount       Value
COMMON STOCKS - 99.3%
Consumer discretionary - 13.8%
Auto components - 0.5%
Cooper Tire & Rubber Company 4,383 $ 187,768
Dana Holding Corp. 522 11,046
Federal-Mogul Holdings Corp. (I) 946 12,591
Fuel Systems Solutions, Inc. (I) 778 8,589
Lear Corp. 5,923 656,387
Modine Manufacturing Company (I) 6,862 92,431
Motorcar Parts of America, Inc. (I) 855 23,760
Shiloh Industries, Inc. (I) 1,515 21,271
Spartan Motors, Inc. 7,540 36,569
Standard Motor Products, Inc. 3,972 167,857
Stoneridge, Inc. (I) 3,538 39,944
Strattec Security Corp. 924 68,228
Superior Industries International, Inc. 6,173 116,855
Sypris Solutions, Inc. 1,826 4,109
The Goodyear Tire & Rubber Company 1,401 37,939
1,485,344
Automobiles - 0.5%
Thor Industries, Inc. 24,076 1,521,844
Distributors - 0.1%
Core-Mark Holding Company, Inc. 3,952 254,193
VOXX International Corp. (I) 3,131 28,680
Weyco Group, Inc. 1,316 39,348
322,221
Diversified consumer services - 0.7%
American Public Education, Inc. (I) 112 3,358
Apollo Education Group, Inc. (I) 1,506 28,494
Ascent Capital Group, Inc., Class A (I) 3,168 126,118
Bridgepoint Education, Inc. (I) 3,463 33,418
Career Education Corp. (I) 16,001 80,485
Carriage Services, Inc. 1,797 42,894
Graham Holdings Company, Class B 1,033 1,084,246
Lincoln Educational Services Corp. 1,100 2,508
National American University Holdings, Inc. 4,665 15,395
Regis Corp. (I) 8,945 146,340
Service Corp. International 13,149 342,531
Steiner Leisure, Ltd. (I) 996 47,210
Universal Technical Institute, Inc. 3,087 29,635
1,982,632
Hotels, restaurants and leisure - 3.8%
Ambassadors Group, Inc. (I) 4,023 10,178
Ark Restaurants Corp. 64 1,595
Belmond, Ltd., Class A (I) 12,313 151,204
Biglari Holdings, Inc. (I) 376 155,702
BJ’s Restaurants, Inc. (I) 2,755 138,990
Bob Evans Farms, Inc. 1,818 84,101
Brinker International, Inc. 25,034 1,541,093
Canterbury Park Holding Corp. (I) 200 2,048
Churchill Downs, Inc. 2,448 281,447
Cracker Barrel Old Country Store, Inc. 10,026 1,525,356
DineEquity, Inc. 2,804 300,056
Dover Motorsports, Inc. 400 948
Frisch’s Restaurants, Inc. 1,329 36,082
Gaming Partners International Corp. (I) 800 8,608
International Speedway Corp., Class A 4,386 143,027
Interval Leisure Group, Inc. 62 1,625
Life Time Fitness, Inc. (I) 1,687 119,710
Luby’s, Inc. (I) 6,251 32,443
Marriott Vacations Worldwide Corp. 7,054 571,727
Monarch Casino & Resort, Inc. (I) 1,278 24,461
Papa John’s International, Inc. 26,382 1,630,671
RCI Hospitality Holdings, Inc. (I) 2,439 25,390
Red Lion Hotels Corp. (I) 3,000 20,010
Red Robin Gourmet Burgers, Inc. (I) 17,960 1,562,520
Ruby Tuesday, Inc. (I) 9,400 56,494
SeaWorld Entertainment, Inc. 556 10,720
Sonic Corp. 50,017 1,585,539
Speedway Motorsports, Inc. 7,031 159,955
The Marcus Corp. 3,816 81,243
The Wendy’s Company 50,737 553,033
10,815,976
Household durables - 1.7%
Bassett Furniture Industries, Inc. 2,333 66,537
Beazer Homes USA, Inc. (I) 60,190 1,066,567
Cavco Industries, Inc. (I) 606 45,486
CSS Industries, Inc. 976 29,426
Emerson Radio Corp. 4,869 6,378
Ethan Allen Interiors, Inc. 1,402 38,751
Flexsteel Industries, Inc. 1,750 54,758
Helen of Troy, Ltd. (I) 6,044 492,526
Hooker Furniture Corp. 2,555 48,673
La-Z-Boy, Inc. 56,167 1,578,854
Lennar Corp., Class B 646 26,551
Lifetime Brands, Inc. 2,931 44,786
M/I Homes, Inc. (I) 2,195 52,329
MDC Holdings, Inc. 2,843 81,026
Meritage Homes Corp. (I) 1,652 80,353
NACCO Industries, Inc., Class A 1,100 58,289
PulteGroup, Inc. 23,568 523,917
Skullcandy, Inc. (I) 5,061 57,189
Skyline Corp. (I) 1,252 4,357
Standard Pacific Corp. (I) 4,889 44,001
Stanley Furniture Company, Inc. (I) 2,340 7,371
The Ryland Group, Inc. 4,067 198,226
Universal Electronics, Inc. (I) 1,910 107,800
4,714,151
Internet and catalog retail - 0.1%
1-800-Flowers.com, Inc., Class A (I) 4,819 57,009
FTD Companies, Inc. (I) 152 4,551
Geeknet, Inc. (I) 1,183 9,452
Liberty TripAdvisor Holdings, Inc., Class A (I) 1,885 59,924
Shutterfly, Inc. (I) 1,337 60,486
191,422
Leisure products - 0.1%
Callaway Golf Company 14,553 138,690
Escalade, Inc. 3,529 61,334
JAKKS Pacific, Inc. (I)(L) 2,278 15,582
Johnson Outdoors, Inc., Class A 2,170 71,849
Vista Outdoor, Inc. (I) 2,662 113,987
401,442
Media - 1.1%
AH Belo Corp., Class A 4,238 34,879
Ballantyne Strong, Inc. (I) 1,114 5,046
Beasley Broadcast Group, Inc., Class A 502 2,565
Cumulus Media, Inc., Class A (I) 15,145 37,408
Entercom Communications Corp., Class A (I) 7,530 91,490
Gannett Company, Inc. 13,520 501,322
Gray Television, Inc. (I) 10,200 140,964
Harte-Hanks, Inc. 8,315 64,857
John Wiley & Sons, Inc., Class A 1,531 93,605
Journal Communications, Inc., Class A (I) 8,698 128,904
Meredith Corp. 2,862 159,614

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Small Cap Opportunities Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Media (continued)
Nexstar Broadcasting Group, Inc., Class A 24,303 $ 1,390,618
Radio One, Inc., Class D (I) 2,400 7,392
Salem Media Group, Class A 4,439 27,344
Scholastic Corp. 1,457 59,650
Sizmek, Inc. (I) 2,300 16,698
The EW Scripps Company, Class A (I) 6,715 190,975
The Madison Square Garden, Inc., Class A (I) 1,348 114,108
The McClatchy Company, Class A (I) 8,440 15,530
The New York Times Company, Class A 378 5,201
Time, Inc. 310 6,956
3,095,126
Multiline retail - 0.2%
Dillard’s, Inc., Class A 3,618 493,893
Fred’s, Inc., Class A 2,000 34,180
Gordmans Stores, Inc. (I)(L) 3,030 25,149
553,222
Specialty retail - 3.9%
Aaron’s, Inc. 16,868 477,533
Abercrombie & Fitch Company, Class A 3,400 74,936
America’s Car-Mart, Inc. (I) 846 45,896
American Eagle Outfitters, Inc. 1,997 34,109
ANN, Inc. (I) 32,664 1,340,204
Barnes & Noble, Inc. (I) 9,769 232,014
bebe stores, Inc. 7,863 28,543
Big 5 Sporting Goods Corp. 1,104 14,650
Books-A-Million, Inc. (I) 3,850 10,549
Brown Shoe Company, Inc. 7,015 230,092
Build-A-Bear Workshop, Inc. (I) 3,889 76,419
Chico’s FAS, Inc. 12,444 220,134
Christopher & Banks Corp. (I) 488 2,713
Citi Trends, Inc. (I) 3,741 101,007
Conn’s, Inc. (I) 76 2,301
GameStop Corp., Class A (L) 9,351 354,964
Genesco, Inc. (I) 2,002 142,602
GNC Holdings, Inc., Class A 23,148 1,135,872
Group 1 Automotive, Inc. 4,596 396,773
Guess?, Inc. 503 9,351
Haverty Furniture Companies, Inc. 3,990 99,271
hhgregg, Inc. (I)(L) 2,951 18,090
MarineMax, Inc. (I) 4,789 126,956
New York & Company, Inc. (I) 5,638 14,095
Office Depot, Inc. (I) 31,041 285,577
Penske Automotive Group, Inc. 33,121 1,705,400
Perfumania Holdings, Inc. (I) 848 4,639
Pier 1 Imports, Inc. 45,767 639,823
Rent-A-Center, Inc. 7,876 216,117
Shoe Carnival, Inc. 3,229 95,062
Sonic Automotive, Inc., Class A 1,811 45,094
Stage Stores, Inc. 5,877 134,701
Stein Mart, Inc. 4,251 52,925
Systemax, Inc. (I) 7,064 86,322
Tandy Leather Factory, Inc. 1,690 14,906
The Cato Corp., Class A 1,957 77,497
The Children’s Place Retail Stores, Inc. 1,483 95,194
The Finish Line, Inc., Class A 3,829 93,887
The Men’s Wearhouse, Inc. 7,100 370,620
The Michaels Companies, Inc. (I) 59,093 1,599,057
The Pep Boys - Manny, Moe & Jack (I) 11,993 115,373
Trans World Entertainment Corp. (I) 6,243 23,099
Vitamin Shoppe, Inc. (I) 1,560 64,256
West Marine, Inc. (I) 5,421 50,253
Zumiez, Inc. (I) 400 16,100
10,974,976
Textiles, apparel and luxury goods - 1.1%
Charles & Colvard, Ltd. (I) 3,400 3,978
Columbia Sportswear Company 27,026 1,645,883
Crocs, Inc. (I) 930 10,983
Culp, Inc. 1,603 42,880
Delta Apparel, Inc. (I) 500 6,150
G-III Apparel Group, Ltd. (I) 1,383 155,795
Iconix Brand Group, Inc. (I) 8,941 301,043
Lakeland Industries, Inc. (I) 1,110 9,935
Movado Group, Inc. 3,138 89,496
Peace Mark Holdings, Ltd. (I) 464,000 0
Perry Ellis International, Inc. (I) 2,800 64,848
Rocky Brands, Inc. 1,478 31,925
Skechers U.S.A., Inc., Class A (I) 4,166 299,577
Superior Uniform Group, Inc. 3,426 64,991
Unifi, Inc. (I) 3,647 131,620
Wolverine World Wide, Inc. 4,795 160,393
3,019,497
39,077,853
Consumer staples - 2.3%
Beverages - 0.1%
Coca-Cola Bottling Company Consolidated 1,135 128,323
Craft Brew Alliance, Inc. (I) 2,909 39,679
MGP Ingredients, Inc. 2,764 37,203
205,205
Food and staples retailing - 0.2%
Casey’s General Stores, Inc. 552 49,735
Ingles Markets, Inc., Class A 3,007 148,786
SpartanNash Company 6,227 196,524
The Andersons, Inc. 3,784 156,544
Village Super Market, Inc., Class A 685 21,536
Weis Markets, Inc. 5,260 261,738
834,863
Food products - 1.8%
Alico, Inc. 341 17,480
Cal-Maine Foods, Inc. (L) 3,688 144,053
Darling Ingredients, Inc. (I) 5,913 82,841
Dean Foods Company 5,378 88,898
Diamond Foods, Inc. (I) 197 6,416
Farmer Brothers Company (I) 174 4,307
Fresh Del Monte Produce, Inc. (L) 9,412 366,221
Ingredion, Inc. 5,709 444,274
John B. Sanfilippo & Son, Inc. 2,004 86,372
Landec Corp. (I) 3,865 53,917
Omega Protein Corp. (I) 4,487 61,427
Pinnacle Foods, Inc. 41,822 1,706,756
Post Holdings, Inc. (I) 6,222 291,438
Sanderson Farms, Inc. (L) 2,059 163,999
Seaboard Corp. (I) 58 239,656
Seneca Foods Corp., Class A (I) 1,409 42,002
Snyder’s-Lance, Inc. 6,364 203,393
TreeHouse Foods, Inc. (I) 13,055 1,109,936
5,113,386
Household products - 0.1%
Central Garden & Pet Company (I) 2,553 25,198
Central Garden & Pet Company, Class A (I) 7,962 84,556
Oil-Dri Corp. of America 531 17,868

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Small Cap Opportunities Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Household products (continued)
Orchids Paper Products Company 1,176 $ 31,705
159,327
Personal products - 0.0%
CCA Industries, Inc. (I) 1,277 4,074
Inter Parfums, Inc. 1,132 36,926
Mannatech, Inc. (I) 276 5,120
Natural Alternatives International, Inc. (I) 200 1,096
Nutraceutical International Corp. (I) 2,093 41,232
88,448
Tobacco - 0.1%
Alliance One International, Inc. (I) 2,184 2,402
Universal Corp. 3,597 169,635
172,037
6,573,266
Energy - 5.5%
Energy equipment and services - 2.4%
Atwood Oceanics, Inc. 6,364 178,892
Basic Energy Services, Inc. (I) 9,528 66,029
Bristow Group, Inc. 5,929 322,834
C&J Energy Services, Ltd. (I) 1,651 18,376
Dawson Geophysical Company (I) 3,760 16,055
Diamond Offshore Drilling, Inc. 383 10,261
ENGlobal Corp. (I) 4,600 7,636
Era Group, Inc. (I) 4,560 95,030
Exterran Holdings, Inc. 12,331 413,952
Forum Energy Technologies, Inc. (I) 39,951 783,040
Gulf Island Fabrication, Inc. 3,019 44,862
Gulfmark Offshore, Inc., Class A 5,053 65,891
Helix Energy Solutions Group, Inc. (I) 62,356 932,846
Hornbeck Offshore Services, Inc. (I) 5,300 99,693
Key Energy Services, Inc. (I) 30,610 55,710
Matrix Service Company (I) 2,731 47,956
McDermott International, Inc. (I)(L) 20,409 78,371
Mitcham Industries, Inc. (I) 2,431 11,183
Nabors Industries, Ltd. 34,704 473,710
Natural Gas Services Group, Inc. (I) 2,620 50,356
Newpark Resources, Inc. (I) 12,359 112,590
Noble Corp. PLC 6,354 90,735
Nuverra Environmental Solutions, Inc. (I) 37 132
Oil States International, Inc. (I) 1,067 42,435
Pacific Drilling SA (I)(L) 34,499 134,201
Parker Drilling Company (I) 22,288 77,785
Patterson-UTI Energy, Inc. 23,683 444,648
PHI, Inc. (I) 3,660 110,093
PHI, Inc. (I) 443 13,179
Pioneer Energy Services Corp. (I) 13,400 72,628
Precision Drilling Corp. 51,388 325,800
Rowan Companies PLC, Class A 15,569 275,727
SEACOR Holdings, Inc. (I) 3,829 266,766
Superior Energy Services, Inc. 15,724 351,274
Tesco Corp. 9,436 107,287
TETRA Technologies, Inc. (I) 11,674 72,145
Tidewater, Inc. (L) 8,035 153,790
Unit Corp. (I) 9,506 265,978
Willbros Group, Inc. (I) 7,146 23,653
6,713,529
Oil, gas and consumable fuels - 3.1%
Adams Resources & Energy, Inc. 724 48,668
Alon USA Energy, Inc. 7,477 123,894
Alpha Natural Resources, Inc. (I)(L) 17,721 17,719
Approach Resources, Inc. (I) 366 2,412
Bill Barrett Corp. (I)(L) 4,721 39,184
Bonanza Creek Energy, Inc. (I) 3,889 95,903
Callon Petroleum Company (I) 9,369 69,986
Carrizo Oil & Gas, Inc. (I) 3,951 196,167
Clayton Williams Energy, Inc. (I)(L) 1,167 59,085
Cloud Peak Energy, Inc. (I) 3,741 21,773
Comstock Resources, Inc. (L) 9,273 33,105
Contango Oil & Gas Company (I) 3,786 83,292
CVR Energy, Inc. 207 8,810
Delek US Holdings, Inc. 9,835 390,941
Denbury Resources, Inc. (L) 38,287 279,112
DHT Holdings, Inc. 1,653 11,538
Energy XXI, Ltd. (L) 22,008 80,109
GasLog, Ltd. (L) 1,604 31,150
Gastar Exploration, Inc. (I) 1,880 4,926
Green Plains, Inc. 7,544 215,381
HollyFrontier Corp. 639 25,733
Matador Resources Company (I)(L) 2,000 43,840
Newfield Exploration Company (I) 23,906 838,862
Northern Oil and Gas, Inc. (I)(L) 14,231 109,721
Oasis Petroleum, Inc. (I) 597 8,489
Overseas Shipholding
       Group, Inc., Class B (I)(L) 4,700 19,270
Panhandle Oil and Gas, Inc., Class A 2,510 49,673
PBF Energy, Inc., Class A 1,168 39,619
Peabody Energy Corp. (L) 27,624 135,910
Penn Virginia Corp. (I)(L) 14,914 96,643
QEP Resources, Inc. 27,153 566,140
Renewable Energy Group, Inc. (I) 2,214 20,413
Rex Energy Corp. (I)(L) 5,655 21,037
Rosetta Resources, Inc. (I) 21,203 360,875
SandRidge Energy, Inc. (I)(L) 88,358 157,277
Scorpio Tankers, Inc. 158,477 1,492,853
SemGroup Corp., Class A 18,117 1,473,637
Ship Finance International, Ltd. (L) 1,300 19,240
SM Energy Company 895 46,254
Stone Energy Corp. (I) 9,615 141,148
Swift Energy Company (I)(L) 6,984 15,085
Triangle Petroleum Corp. (I)(L) 2,529 12,721
Ultra Petroleum Corp. (I)(L) 55,483 867,199
VAALCO Energy, Inc. (I) 8,997 22,043
W&T Offshore, Inc. (L) 8,147 41,631
Warren Resources, Inc. (I) 16,948 15,084
Western Refining, Inc. 4,319 213,315
Whiting Petroleum Corp. (I) 387 11,958
WPX Energy, Inc. (I) 6,075 66,400
8,745,225
15,458,754
Financials - 23.0%
Banks - 8.3%
1st Source Corp. 3,630 116,632
Access National Corp. 1,661 31,127
American National Bankshares, Inc. 1,848 41,728
American River Bankshares (I) 2,249 21,298
Ameris Bancorp 3,287 86,744
Associated Banc-Corp. 23,411 435,445
BancFirst Corp. 1,402 85,494
BancorpSouth, Inc. 8,702 202,060
Bank of Commerce Holdings 3,606 20,194
Bank of Kentucky Financial Corp. 1,208 59,252
Banner Corp. 2,172 99,695

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Small Cap Opportunities Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Banks (continued)
Bar Harbor Bankshares 1,000 $ 32,550
BBCN Bancorp, Inc. 8,868 128,320
BCB Bancorp, Inc. 1,477 17,931
BOK Financial Corp. 569 34,834
Boston Private Financial Holdings, Inc. 9,773 118,742
Bridge Capital Holdings (I) 162 4,230
Bryn Mawr Bank Corp. 1,969 59,877
C&F Financial Corp. 627 21,914
Camden National Corp. 1,148 45,736
Capital Bank Financial Corp., Class A (I) 377 10,409
Capital City Bank Group, Inc. 3,946 64,123
Cardinal Financial Corp. 4,331 86,533
Cathay General Bancorp 9,018 256,562
CenterState Banks, Inc. 3,102 36,945
Central Pacific Financial Corp. 3,754 86,229
Century Bancorp, Inc., Class A 836 33,189
Chemical Financial Corp. 3,570 111,955
Chemung Financial Corp. 966 27,338
CIT Group, Inc. 5,171 233,316
City Holding Company 2,400 112,872
CNB Financial Corp. 1,962 33,393
CoBiz Financial, Inc. 5,646 69,559
Columbia Banking System, Inc. 4,511 130,684
Community Bank Systems, Inc. 3,485 123,334
Community Trust Bancorp, Inc. 2,447 81,143
ConnectOne Bancorp, Inc. 23 448
Customers Bancorp, Inc. (I) 34 828
CVB Financial Corp. 5,178 82,537
East West Bancorp, Inc. 40,200 1,626,492
Eastern Virginia Bankshares, Inc. 2,996 18,755
Enterprise Bancorp, Inc. 236 5,015
Enterprise Financial Services Corp. 2,969 61,340
Farmers Capital Bank Corp. (I) 1,551 36,061
Fidelity Southern Corp. 3,081 52,007
Financial Institutions, Inc. 1,481 33,959
First BanCorp (I) 40,964 253,977
First Bancorp North Carolina 4,396 77,194
First Bancorp, Inc. 1,769 30,869
First Busey Corp. 12,619 84,421
First Business Financial Services, Inc. 683 29,533
First Citizens BancShares, Inc., Class A 159 41,291
First Commonwealth Financial Corp. 15,940 143,460
First Community Bancshares, Inc. 4,630 81,164
First Connecticut Bancorp, Inc. 3,963 60,911
First Financial Bancorp 4,968 88,480
First Financial Corp. 1,877 67,366
First Interstate BancSystem, Inc., Class A 1,660 46,181
First Merchants Corp. 4,679 110,144
First Midwest Bancorp, Inc. 7,500 130,275
First NBC Bank Holding Company (I) 54 1,781
First South Bancorp, Inc. 1,628 13,171
FirstMerit Corp. 3,496 66,634
Flushing Financial Corp. 4,247 85,237
FNB Corp. 13,713 180,189
Fulton Financial Corp. 18,259 225,316
German American Bancorp, Inc. 1,901 55,946
Glacier Bancorp, Inc. 51,277 1,289,617
Great Southern Bancorp, Inc. 2,054 80,907
Guaranty Bancorp 3,284 55,697
Hancock Holding Company 3,864 115,379
Hanmi Financial Corp. 4,672 98,813
Heartland Financial USA, Inc. 2,428 79,226
Heritage Commerce Corp. 2,996 27,353
Heritage Financial Corp. 1,481 25,177
Hilltop Holdings, Inc. (I) 1,671 32,484
Horizon Bancorp 1,444 33,775
Hudson Valley Holding Corp. 2,926 74,789
IBERIABANK Corp. 22,470 1,416,284
Independent Bank Corp. (MA) 2,831 124,196
Independent Bank Corp. (MI) 206 2,643
International Bancshares Corp. 8,607 224,040
Lakeland Bancorp, Inc. 4,261 49,002
Lakeland Financial Corp. 2,332 94,633
LegacyTexas Financial Group, Inc. 3,326 75,600
LNB Bancorp, Inc. 2,266 40,425
Macatawa Bank Corp. 8,394 44,908
MainSource Financial Group, Inc. 4,125 81,015
MB Financial, Inc. 9,932 310,971
MBT Financial Corp. (I) 3,223 18,081
Mercantile Bank Corp. 1,266 24,750
Merchants Bancshares, Inc. 1,017 29,666
Metro Bancorp, Inc. 2,159 59,524
MidSouth Bancorp, Inc. 1,822 26,875
MidWestOne Financial Group, Inc. 1,343 38,719
National Bank Holdings Corp., Class A 117 2,201
National Penn Bancshares, Inc. 21,597 232,600
NBT Bancorp, Inc. 3,823 95,804
NewBridge Bancorp 2,707 24,146
Northrim BanCorp, Inc. 1,530 37,546
Norwood Financial Corp. 792 22,128
OFG Bancorp 6,515 106,325
Old National Bancorp 8,824 125,213
Old Second Bancorp, Inc. (I) 2,721 15,564
Pacific Continental Corp. 2,749 36,342
Pacific Mercantile Bancorp (I) 2,510 18,172
Pacific Premier Bancorp, Inc. (I) 2,434 39,406
PacWest Bancorp 33,611 1,576,020
Park Sterling Corp. 10,501 74,557
Peapack Gladstone Financial Corp. 1,625 35,100
Penns Woods Bancorp, Inc. 792 38,737
Peoples Bancorp, Inc. 2,153 50,897
Pinnacle Financial Partners, Inc. 5,876 261,247
Preferred Bank 1,883 51,726
Premier Financial Bancorp, Inc. 2,052 31,252
PrivateBancorp, Inc. 46,763 1,644,655
Prosperity Bancshares, Inc. 3,424 179,692
QCR Holdings, Inc. 1,521 27,287
Renasant Corp. (L) 4,209 126,480
Republic Bancorp, Inc., Class A 4,422 109,356
Republic First Bancorp, Inc. (I) 3,612 13,112
S&T Bancorp, Inc. 4,287 121,665
Sandy Spring Bancorp, Inc. 3,480 91,280
Shore Bancshares, Inc. (I) 2,225 20,426
Sierra Bancorp 2,175 36,323
Simmons First National Corp., Class A 2,414 109,765
South State Corp. 543 37,136
Southern National Bancorp of Virginia, Inc. 1,959 23,763
Southwest Bancorp, Inc. 4,604 81,905
State Bank Financial Corp. 325 6,825
Sterling Bancorp 3,891 52,178
Stock Yards Bancorp, Inc. 2,115 72,819
Suffolk Bancorp 1,938 46,047
Sun Bancorp, Inc. (I) 692 13,086
Susquehanna Bancshares, Inc. 34,060 466,963
Synovus Financial Corp. 58,786 1,646,596
TCF Financial Corp. 13,027 204,784

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Small Cap Opportunities Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Banks (continued)
Texas Capital Bancshares, Inc. (I) 224 $ 10,898
The Bancorp, Inc. (I) 3,062 27,650
Tompkins Financial Corp. 2,251 121,216
Towne Bank (L) 7,025 112,962
Trustmark Corp. 5,808 141,018
UMB Financial Corp. 1,923 101,707
Union Bankshares Corp. 6,132 136,192
Union Bankshares, Inc. 798 20,333
United Bankshares, Inc. 3,037 114,130
United Community Banks, Inc. 782 14,764
Univest Corp. of Pennsylvania 3,806 75,321
Valley National Bancorp 1,579 14,906
Washington Trust Bancorp, Inc. 2,598 99,218
WesBanco, Inc. 6,177 201,247
West Bancorp, Inc. 2,345 46,642
WestAmerica Bancorp. 256 11,062
Western Alliance Bancorp (I) 54,369 1,611,497
Wilshire Bancorp, Inc. 1,904 18,983
Wintrust Financial Corp. 7,349 350,400
Zions Bancorporation 22,683 612,441
23,376,631
Capital markets - 2.6%
Calamos Asset Management, Inc., Class A 4,844 65,152
Cowen Group, Inc., Class A (I) 27,926 145,215
E*TRADE Financial Corp. (I) 81,587 2,329,717
Evercore Partners, Inc., Class A 24,228 1,251,618
Interactive Brokers Group, Inc., Class A 3,648 124,105
INTL. FCStone, Inc. (I) 4,806 142,882
Investment Technology Group, Inc. (I) 2,461 74,593
Janus Capital Group, Inc. 116,450 2,001,776
JMP Group LLC 4,808 40,291
KCG Holdings, Inc., Class A (I) 266 3,261
Legg Mason, Inc. 20,082 1,108,526
Oppenheimer Holdings, Inc., Class A 3,213 75,377
Piper Jaffray Companies (I) 800 41,968
7,404,481
Consumer finance - 0.2%
Asta Funding, Inc. (I) 2,925 24,395
Cash America International, Inc. 3,600 83,880
Encore Capital Group, Inc. (I)(L) 2,320 96,489
Imperial Holdings, Inc. (I)(L) 4,663 32,501
Navient Corp. 4,149 84,349
Nelnet, Inc., Class A 4,156 196,662
Nicholas Financial, Inc. (I) 75 1,051
The First Marblehead Corp. (I) 834 5,196
524,523
Diversified financial services - 0.5%
California First National Bancorp 1,653 22,795
Marlin Business Services Corp. 1,698 34,011
NewStar Financial, Inc. (I) 8,366 98,133
PHH Corp. (I) 10,506 253,930
PICO Holdings, Inc. (I) 2,493 40,412
Resource America, Inc., Class A 3,450 31,395
The NASDAQ OMX Group, Inc. 19,374 986,912
1,467,588
Insurance - 7.1%
Alleghany Corp. (I) 1,828 890,236
Allied World Assurance Company Holdings AG 14,175 572,670
Ambac Financial Group, Inc. (I) 1,527 36,953
American Equity Investment Life
       Holding Company 12,334 359,289
American Financial Group, Inc. 36,208 2,322,743
American Independence Corp. (I) 1,482 15,635
American National Insurance Company 3,816 375,456
AMERISAFE, Inc. 2,629 121,591
Arch Capital Group, Ltd. (I) 3,475 214,060
Argo Group International Holdings, Ltd. 5,617 281,693
Aspen Insurance Holdings, Ltd. 11,100 524,253
Assurant, Inc. 11,377 698,662
Assured Guaranty, Ltd. 29,501 778,531
Axis Capital Holdings, Ltd. 15,915 820,896
Baldwin & Lyons, Inc., Class B 2,973 69,747
CNO Financial Group, Inc. 40,256 693,208
Donegal Group, Inc., Class A 4,559 71,667
EMC Insurance Group, Inc. 3,026 102,279
Employers Holdings, Inc. 2,717 73,332
Endurance Specialty Holdings, Ltd. 7,972 487,408
Enstar Group, Ltd. (I) 1,114 158,032
Everest Re Group, Ltd. 1,556 270,744
FBL Financial Group, Inc., Class A 4,766 295,540
Federated National Holding Company 1,090 33,354
First Acceptance Corp. (I) 7,986 19,326
First American Financial Corp. 18,553 661,971
Global Indemnity PLC (I) 2,945 81,724
Greenlight Capital Re, Ltd., Class A (I) 2,616 83,189
Hallmark Financial Services, Inc. (I) 4,008 42,485
HCC Insurance Holdings, Inc. 5,773 327,156
Horace Mann Educators Corp. 7,361 251,746
Independence Holding Company 3,958 53,789
Investors Title Company 438 32,421
Kemper Corp. 10,243 399,067
Maiden Holdings, Ltd. 14,084 208,866
MBIA, Inc. (I) 22,405 208,367
Meadowbrook Insurance Group, Inc. 8,411 71,494
Montpelier Re Holdings, Ltd. 3,588 137,923
National Interstate Corp. 941 26,423
National Western Life Insurance
       Company, Class A 888 225,818
Old Republic International Corp. 21,705 324,273
OneBeacon Insurance Group, Ltd., Class A 2,200 33,462
PartnerRe, Ltd. 6,393 730,912
Primerica, Inc. 1,278 65,050
ProAssurance Corp. 2,620 120,284
Reinsurance Group of America, Inc. 6,300 587,097
RenaissanceRe Holdings, Ltd. 4,261 424,950
Safety Insurance Group, Inc. 2,275 135,931
Selective Insurance Group, Inc. 5,508 160,007
StanCorp Financial Group, Inc. 23,903 1,639,746
State Auto Financial Corp. 4,187 101,702
Stewart Information Services Corp. 4,753 193,162
Symetra Financial Corp. 20,782 487,546
The Hanover Insurance Group, Inc. 7,058 512,270
The Navigators Group, Inc. (I) 2,644 205,809
The Phoenix Companies, Inc. (I) 1,081 54,039
United Fire Group, Inc. 2,908 92,387
Universal Insurance Holdings, Inc. 2,064 52,818
Validus Holdings, Ltd. 13,176 554,710
W.R. Berkley Corp. 8,318 420,142
White Mountains Insurance Group, Ltd. 96 65,714
20,061,755
Real estate investment trusts - 1.5%
Cousins Properties, Inc. 132,400 1,403,440
LaSalle Hotel Properties 33,111 1,286,693

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Small Cap Opportunities Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)    
Real estate investment trusts (continued)    
The Geo Group, Inc. 32,084 $ 1,403,354
  4,093,487
Real estate management and development - 1.3%    
Alexander & Baldwin, Inc. 2,547   109,979
AV Homes, Inc. (I) 1,798   28,696
Forestar Group, Inc. (I) 1,413   22,283
FRP Holdings, Inc. (I) 1,350   49,140
Griffin Land & Nurseries, Inc. 892   26,796
Jones Lang LaSalle, Inc. 12,034   2,050,594
Kennedy-Wilson Holdings, Inc. 52,217   1,364,952
Stratus Properties, Inc. (I) 1,025   14,176
  3,666,616
Thrifts and mortgage finance - 1.5%    
Alliance Bancorp, Inc. of Pennsylvania 1,263   27,281
ASB Bancorp, Inc. (I) 799   16,380
Astoria Financial Corp. 18,702   242,191
Bank Mutual Corp. 10,661   78,039
BankFinancial Corp. 4,835   63,532
BBX Capital Corp., Class A (I) 879   16,349
Berkshire Hills Bancorp, Inc. 3,823   105,897
Brookline Bancorp, Inc. 16,329   164,106
Cape Bancorp, Inc. 2,925   27,963
Capitol Federal Financial, Inc. 24,655   308,188
Chicopee Bancorp, Inc. 783   13,217
Dime Community Bancshares, Inc. 5,215   83,962
ESSA Bancorp, Inc. 897   11,500
EverBank Financial Corp. 2,702   48,717
Federal Agricultural Mortgage Corp., Class C 1,713   48,289
First Defiance Financial Corp. 2,186   71,745
First Financial Northwest, Inc. 3,879   47,906
Flagstar Bancorp, Inc. (I) 10,983   159,363
Fox Chase Bancorp, Inc. 2,071   34,855
Hampden Bancorp, Inc. 1,142   25,272
Heritage Financial Group, Inc. 1,953   53,180
HF Financial Corp. 1,526   22,539
Hingham Institution for Savings 425   42,075
Home Bancorp, Inc. 1,668   35,478
HomeStreet, Inc. (I) 1,732   31,730
HopFed Bancorp, Inc. 1,799   23,153
Hudson City Bancorp, Inc. 10,866   113,876
Louisiana Bancorp, Inc. 100   2,113
Meridian Bancorp, Inc. (I) 374   4,926
Meta Financial Group, Inc. 965   38,339
New Hampshire Thrift Bancshares, Inc. 1,485   23,166
New York Community Bancorp, Inc. (L) 32,145   537,786
Northeast Community Bancorp, Inc. 1,932   13,427
Northfield Bancorp, Inc. 6,576   97,456
Northwest Bancshares, Inc. 7,698   91,221
OceanFirst Financial Corp. 2,476   42,761
Oritani Financial Corp. 7,033   102,330
People’s United Financial, Inc. 40,405   614,156
Provident Financial Holdings, Inc. 1,778   28,430
Provident Financial Services, Inc. 4,435   82,713
Prudential Bancorp, Inc. 1,696   21,505
Pulaski Financial Corp. 1,912   23,651
Riverview Bancorp, Inc. (I) 5,483   24,948
SI Financial Group, Inc. 2,433   29,537
Southern Missouri Bancorp, Inc. 1,012   19,096
Territorial Bancorp, Inc. 1,722   40,915
TrustCo Bank Corp. 13,738   94,518
United Community Financial Corp. 10,961   59,847
United Financial Bancorp, Inc. 4,950   61,529
Walker & Dunlop, Inc. (I) 1,536 27,233
Washington Federal, Inc. 8,550 186,433
Waterstone Financial, Inc. 3,678 47,226
Westfield Financial, Inc. 4,152 32,095
WSFS Financial Corp. 1,423 107,621
4,371,761
64,966,842
Health care - 10.5%
Biotechnology - 0.6%
AMAG Pharmaceuticals, Inc. (I) 29,678 1,622,199
Emergent Biosolutions, Inc. (I) 5,391 155,045
Targacept, Inc. (I) 5,553 16,492
1,793,736
Health care equipment and supplies - 3.2%
Alere, Inc. (I) 50,331 2,461,186
Alphatec Holdings, Inc. (I) 8,403 12,184
Analogic Corp. 1,049 95,354
AngioDynamics, Inc. (I) 8,277 147,248
CONMED Corp. 3,500 176,715
CryoLife, Inc. 4,002 41,501
Cynosure, Inc., Class A (I) 1,525 46,772
Digirad Corp. 3,100 14,074
Exactech, Inc. (I) 1,991 51,029
Globus Medical, Inc., Class A (I) 53,980 1,362,455
Greatbatch, Inc. (I) 3,939 227,871
Haemonetics Corp. (I) 25,687 1,153,860
Halyard Health, Inc. (I) 212 10,430
Hill-Rom Holdings, Inc. 30,377 1,488,473
ICU Medical, Inc. (I) 288 26,824
Integra LifeSciences Holdings Corp. (I) 1,515 93,400
Invacare Corp. 3,396 65,916
Kewaunee Scientific Corp. 83 1,446
LeMaitre Vascular, Inc. 1,115 9,344
Merit Medical Systems, Inc. (I) 6,737 129,687
Misonix, Inc. (I) 500 6,525
Natus Medical, Inc. (I) 4,398 173,589
NuVasive, Inc. (I) 2,600 119,574
RTI Surgical, Inc. (I) 4,931 24,359
Span-America Medical Systems, Inc. 684 13,229
Symmetry Surgical, Inc. (I) 1,627 11,926
Wright Medical Group, Inc. (I) 41,871 1,080,272
9,045,243
Health care providers and services - 3.5%
Aceto Corp. 5,823 128,106
Almost Family, Inc. (I) 2,180 97,468
Amedisys, Inc. (I) 7,716 206,634
AMN Healthcare Services, Inc. (I) 473 10,912
Amsurg Corp. (I) 5,246 322,734
BioScrip, Inc. (I)(L) 6,492 28,760
Community Health Systems, Inc. (I) 33,942 1,774,488
Cross Country Healthcare, Inc. (I) 6,973 82,700
Five Star Quality Care, Inc. (I) 8,754 38,868
Hanger, Inc. (I) 2,811 63,782
Health Net, Inc. (I) 5,858 354,350
Healthways, Inc. (I) 5,277 103,957
IPC Healthcare, Inc. (I) 205 9,561
Kindred Healthcare, Inc. 10,586 251,841
LHC Group, Inc. (I) 2,725 90,007
LifePoint Hospitals, Inc. (I) 25,563 1,877,602
Magellan Health Services, Inc. (I) 5,458 386,536
Medcath Corp. (I) 3,806 5,214

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Small Cap Opportunities Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Health care providers and services (continued)  
Molina Healthcare, Inc. (I) 5,413 $ 364,241
National Healthcare Corp. 3,289 209,542
Omnicare, Inc. 11,360 875,402
Owens & Minor, Inc. 5,919 200,299
PDI, Inc. (I) 619 836
PharMerica Corp. (I) 6,796 191,579
Select Medical Holdings Corp. 25,820 382,911
Team Health Holdings, Inc. (I) 25,619 1,498,968
Triple-S Management Corp., Class B (I) 3,459 68,765
Universal American Corp. (I) 12,572 134,269
VCA, Inc. (I) 2,521 138,201
9,898,533
Health care technology - 0.4%
Arrhythmia Research Technology, Inc. (I) 200 1,450
HMS Holdings Corp. (I) 68,239 1,054,293
MedAssets, Inc. (I) 5,638 106,107
Omnicell, Inc. (I) 33 1,158
1,163,008
Life sciences tools and services - 1.8%
Affymetrix, Inc. (I)(L) 153,356 1,926,151
Albany Molecular Research, Inc. (I)(L) 4,791 84,322
Bio-Techne Corp. 14,427 1,446,884
Charles River
       Laboratories International, Inc. (I) 18,594 1,474,318
Harvard Bioscience, Inc. (I) 6,562 38,191
4,969,866
Pharmaceuticals - 1.0%
Cumberland Pharmaceuticals, Inc. (I) 956 6,367
Forest Laboratories, Inc. (I) 767 0
FRD Acquisition Company (I) 5,160 4,489
Impax Laboratories, Inc. (I) 49,287 2,310,082
Prestige Brands Holdings, Inc. (I) 9,235 396,089
SciClone Pharmaceuticals, Inc. (I) 2,144 18,996
Trius Therapeutics, Inc. (I) 1,482 163
2,736,186
29,606,572
Industrials - 18.2%
Aerospace and defense - 0.8%
AAR Corp. 7,400 227,180
Breeze-Eastern Corp. (I) 1,621 16,680
CPI Aerostructures, Inc. (I) 1,400 17,080
Cubic Corp. 2,425 125,542
Curtiss-Wright Corp. 8,823 652,373
DigitalGlobe, Inc. (I) 882 30,050
Ducommun, Inc. (I) 2,274 58,897
Engility Holdings, Inc. 4,159 124,936
Exelis, Inc. 8,179 199,322
Kratos Defense & Security Solutions, Inc. (I) 13,485 74,572
LMI Aerospace, Inc. (I) 2,295 28,022
National Presto Industries, Inc. 138 8,748
Orbital ATK, Inc. 3,943 302,152
SIFCO Industries, Inc. 1,000 21,790
Sparton Corp. (I) 2,053 50,299
Triumph Group, Inc. 5,351 319,562
Vectrus, Inc. (I) 325 8,284
2,265,489
Air freight and logistics - 0.7%
Air Transport Services Group, Inc. (I) 14,569 134,326
Atlas Air Worldwide Holdings, Inc. (I) 3,546 152,549
Forward Air Corp. 26,405 1,433,792
Hub Group, Inc., Class A (I) 5,439   213,698
  1,934,365
Airlines - 0.8%    
Alaska Air Group, Inc. 10,083   667,293
Copa Holdings SA, Class A (L) 1,108   111,875
Hawaiian Holdings, Inc. (I) 4,411   97,152
JetBlue Airways Corp. (I) 54,435   1,047,874
Republic Airways Holdings, Inc. (I) 7,820   107,525
SkyWest, Inc. 9,770   142,740
  2,174,459
Building products - 1.8%    
Apogee Enterprises, Inc. 41,868   1,808,698
Gibraltar Industries, Inc. (I) 5,765   94,604
Griffon Corp. 13,366   232,969
Insteel Industries, Inc. 2,944   63,679
Owens Corning 16,508   716,447
Quanex Building Products Corp. 5,950   117,453
Simpson Manufacturing Company, Inc. 4,345   162,373
Trex Company, Inc. (I) 31,317   1,707,716
Universal Forest Products, Inc. 2,665   147,854
  5,051,793
Commercial services and supplies - 3.1%    
ABM Industries, Inc. 4,717   150,284
ACCO Brands Corp. (I) 4,800   39,888
Acme United Corp. 733   13,385
ARC Document Solutions, Inc. (I) 3,098   28,595
Clean Harbors, Inc. (I) 357   20,270
Courier Corp. 2,603   63,721
Covanta Holding Corp. 13,776   308,996
Ennis, Inc. 5,887   83,124
Fuel Tech, Inc. (I) 1,802   5,640
G&K Services, Inc., Class A 2,329   168,922
Heritage-Crystal Clean, Inc. (I) 2,692   31,496
Intersections, Inc. (I)(L) 1,976   6,738
Kimball International, Inc., Class B 6,675   69,954
Matthews International Corp., Class A 3,110   160,196
McGrath RentCorp. 5,082   167,249
Mobile Mini, Inc. 42,715   1,821,368
Multi-Color Corp. 2,248   155,854
NL Industries, Inc. (I) 3,260   25,265
Pitney Bowes, Inc. 56,147   1,309,348
Quad/Graphics, Inc. 266   6,113
Team, Inc. (I) 30,114   1,173,844
Tetra Tech, Inc. 5,782   138,884
The ADT Corp. (L) 12,748   529,297
The Brink’s Company 224   6,189
TRC Companies, Inc. (I) 4,523   37,631
UniFirst Corp. 2,303   271,040
United Stationers, Inc. 3,431   140,637
Versar, Inc. (I) 2,242   7,017
Viad Corp. 4,609   128,222
Virco Manufacturing Corp. (I) 1,200   3,264
Waste Connections, Inc. 37,334   1,797,259
  8,869,690
Construction and engineering - 1.6%    
AECOM (I) 12,850   396,037
Aegion Corp. (I) 4,648   83,896
Ameresco, Inc., Class A (I) 6,918   51,193
Argan, Inc. 2,078   75,161
Comfort Systems USA, Inc. 5,035   105,936

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Small Cap Opportunities Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)    
Construction and engineering (continued)    
Dycom Industries, Inc. (I) 45,707 $ 2,232,330
EMCOR Group, Inc. 1,261   58,599
Furmanite Corp. (I) 1,419   11,196
Great Lakes Dredge & Dock Corp. (I) 13,300   79,933
Integrated Electrical Services, Inc. (I) 753   6,626
Layne Christensen Company (I)(L) 3,312   16,593
MasTec, Inc. (I) 2,887   55,719
MYR Group, Inc. (I) 2,883   90,353
Northwest Pipe Company (I) 1,706   39,153
Orion Marine Group, Inc. (I) 4,263   37,770
Primoris Services Corp. 48,444   832,752
Sterling Construction Company, Inc. (I) 3,771   17,045
Tutor Perini Corp. (I) 8,984   209,776
  4,400,068
Electrical equipment - 1.1%    
Allied Motion Technologies, Inc. 1,416   46,997
AZZ, Inc. 447   20,826
Encore Wire Corp. 3,894   147,505
Ener1, Inc. (I) 28   0
EnerSys 26,342   1,692,210
Franklin Electric Company, Inc. 673   25,668
Global Power Equipment Group, Inc. 4,171   55,057
GrafTech International, Ltd. (I) 26,367   102,568
LSI Industries, Inc. 4,131   33,668
Orion Energy Systems, Inc. (I) 3,553   11,156
Powell Industries, Inc. 1,610   54,370
PowerSecure International, Inc. (I) 3,120   41,059
Preformed Line Products Company 984   41,456
Regal-Beloit Corp. 8,215   656,543
SL Industries, Inc. (I) 1,600   68,400
Thermon Group Holdings, Inc. (I) 142   3,418
Ultralife Corp. (I) 1,984   7,916
  3,008,817
Machinery - 3.2%    
Actuant Corp., Class A 2,921   69,345
AGCO Corp. 16,711   796,112
Alamo Group, Inc. 2,127   134,278
Albany International Corp., Class A 40,949   1,627,723
Altra Industrial Motion Corp. 217   5,998
American Railcar Industries, Inc. (L) 4,020   199,915
Astec Industries, Inc. 4,445   190,602
Barnes Group, Inc. 4,518   182,934
Briggs & Stratton Corp. 7,292   149,778
CIRCOR International, Inc. 909   49,722
Columbus McKinnon Corp. 2,978   80,227
Crane Company 91   5,679
Douglas Dynamics, Inc. 3,168   72,357
Dynamic Materials Corp. 2,005   25,604
EnPro Industries, Inc. 2,365   155,972
ESCO Technologies, Inc. 5,154   200,903
Federal Signal Corp. 10,128   159,921
Gencor Industries, Inc. (I) 1,400   14,014
Hardinge, Inc. 1,500   17,400
Hurco Companies, Inc. 1,492   49,132
Hyster-Yale Materials Handling, Inc. 970   71,091
Key Technology, Inc. (I) 641   8,166
LB Foster Company, Class A 1,699   80,669
Lydall, Inc. (I) 2,409   76,413
MFRI, Inc. (I) 1,100   6,875
Miller Industries, Inc. 2,106   51,597
Mueller Industries, Inc. 5,290   191,128
NN, Inc. 2,376   59,590
Oshkosh Corp. 1,366 66,647
PMFG, Inc. (I)(L) 5,333   24,798
RBC Bearings, Inc. 62   4,745
Rexnord Corp. (I) 45,265   1,208,123
Standex International Corp. 1,888   155,061
Supreme Industries, Inc., Class A 3,651   28,587
The Eastern Company 1,471   29,508
The Greenbrier Companies, Inc. (L) 4,803   278,574
The LS Starrett Company, Class A 1,530   29,070
Titan International, Inc. 1,100   10,296
TriMas Corp. (I) 859   26,449
Trinity Industries, Inc. 21,128   750,255
Twin Disc, Inc. 1,650   29,156
Valmont Industries, Inc. (L) 1,535   188,621
Watts Water Technologies, Inc., Class A 26,895   1,480,032
Woodward, Inc. 1,217   62,079
  9,105,146
Marine - 0.1%    
International Shipholding Corp. 1,625   19,679
Kirby Corp. (I) 279   20,939
Knightsbridge Shipping, Ltd. (L) 5,070   25,350
Matson, Inc. 6,896   290,735
Ultrapetrol Bahamas, Ltd. (I) 15,837   22,964
  379,667
Professional services - 0.8%    
CBIZ, Inc. (I) 10,531   98,254
CDI Corp. 4,408   61,932
CRA International, Inc. (I) 2,371   73,786
Franklin Covey Company (I) 830   15,986
FTI Consulting, Inc. (I) 7,838   293,611
GP Strategies Corp. (I) 2,385   88,245
Heidrick & Struggles International, Inc. 4,283   105,276
Hill International, Inc. (I) 9,256   33,229
Huron Consulting Group, Inc. (I) 988   65,356
ICF International, Inc. (I) 4,587   187,379
Kelly Services, Inc., Class A 6,833   119,168
Korn/Ferry International 9,554   314,040
Mistras Group, Inc. (I) 781   15,042
Navigant Consulting, Inc. (I) 9,227   119,582
On Assignment, Inc. (I) 3,618   138,823
Pendrell Corp. (I) 37,263   48,442
RCM Technologies, Inc. 300   2,010
Resources Connection, Inc. 9,420   164,850
RPX Corp. (I) 4,949   71,216
VSE Corp. 1,317   107,836
  2,124,063
Road and rail - 3.5%    
AMERCO 1,663   549,455
ArcBest Corp. 4,807   182,137
Avis Budget Group, Inc. (I) 17,100   1,009,157
Celadon Group, Inc. 61,201   1,665,891
Con-way, Inc. 5,501   242,759
Covenant Transportation    
       Group, Inc., Class A (I) 2,929   97,126
Heartland Express, Inc. 57,247   1,360,189
Knight Transportation, Inc. 7,116   229,491
Landstar System, Inc. 20,386   1,351,592
Marten Transport, Ltd. 7,428   172,330
Old Dominion Freight Line, Inc. (I) 23,346   1,804,646
P.A.M. Transportation Services, Inc. (I) 2,046   117,174
Patriot Transportation Holding, Inc. (I) 450   11,237

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Small Cap Opportunities Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)    
Road and rail (continued)    
Providence and Worcester Railroad Company 815 $ 14,735
Roadrunner Transportation Systems, Inc. (I) 600   15,162
Ryder Systems, Inc. 8,473   804,003
Saia, Inc. (I) 3,963   175,561
USA Truck, Inc. (I) 2,076   57,484
Werner Enterprises, Inc. 5,765   181,079
  10,041,208
Trading companies and distributors - 0.7%    
Air Lease Corp. 5,257   198,399
Applied Industrial Technologies, Inc. 3,869   175,420
Beacon Roofing Supply, Inc. (I) 1,987   62,193
CAI International, Inc. (I) 3,456   84,914
GATX Corp. 7,598   440,532
Houston Wire & Cable Company 3,039   29,569
Kaman Corp. 2,465   104,590
Lawson Products, Inc. (I) 1,291   29,964
MRC Global, Inc. (I) 1,858   22,017
Rush Enterprises, Inc., Class A (I) 5,802   158,743
Rush Enterprises, Inc., Class B (I) 12,598   311,423
TAL International Group, Inc. (I) 5,250   213,833
Titan Machinery, Inc. (I)(L) 2,816   37,594
Transcat, Inc. (I) 1,532   14,922
WESCO International, Inc. (I) 1,978   138,242
Willis Lease Finance Corp. (I) 406   7,543
  2,029,898
Transportation infrastructure - 0.0%    
Wesco Aircraft Holdings, Inc. (I) 8,691   133,146
    51,517,809
Information technology - 16.9%      
Communications equipment - 1.5%      
ADTRAN, Inc. 278     5,190
ARRIS Group, Inc. (I) 56,542     1,633,781
Bel Fuse, Inc., Class B 1,641     31,228
Black Box Corp. 2,530     52,953
Communications Systems, Inc. 1,800     20,538
Comtech Telecommunications Corp. 3,221     93,248
Digi International, Inc. (I) 4,813     48,034
EchoStar Corp., Class A (I) 6,891     356,403
Emulex Corp. (I) 7,813     62,270
Finisar Corp. (I) 57,591     1,228,992
NETGEAR, Inc. (I) 4,613     151,675
Novatel Wireless, Inc. (I) 6,508     31,369
Oclaro, Inc. (I) 5,040     9,979
Optical Cable Corp. 931     3,659
Polycom, Inc. (I) 19,929     267,049
RELM Wireless Corp. (I) 2,100     12,810
TESSCO Technologies, Inc. 1,750     43,155
Westell Technologies, Inc., Class A (I) 8,500     11,135
    4,063,468
Electronic equipment, instruments and components - 4.1%      
ADDvantage Technologies Group, Inc. (I) 428     1,010
Anixter International, Inc. (I) 1,021     77,729
Arrow Electronics, Inc. (I) 16,966     1,037,471
Avnet, Inc. 22,763   1,012,954
AVX Corp. 29,339   418,668
Belden, Inc. 17,172   1,606,612
Benchmark Electronics, Inc. (I) 6,843   164,437
Checkpoint Systems, Inc. 9,467   102,433
Coherent, Inc. (I) 20,180   1,310,893
CTS Corp. 4,099   73,741
Daktronics, Inc. 1,238 13,383
Echelon Corp. (I) 7,977   7,578
Electro Rent Corp. 3,773   42,786
Electro Scientific Industries, Inc. 4,104   25,363
Fabrinet (I) 5,079   96,450
Frequency Electronics, Inc. (I) 1,783   24,873
GSI Group, Inc. (I) 8,069   107,479
II-VI, Inc. (I) 6,455   119,159
Ingram Micro, Inc., Class A (I) 27,323   686,354
Insight Enterprises, Inc. (I) 7,853   223,968
Iteris, Inc. (I) 8,054   14,658
Jabil Circuit, Inc. 13,183   308,219
KEMET Corp. (I) 10,443   43,234
Key Tronic Corp. (I) 1,900   20,444
Kimball Electronics, Inc. (I) 5,006   70,785
Mercury Systems, Inc. (I) 8,122   126,297
Methode Electronics, Inc. 3,050   143,472
Multi-Fineline Electronix, Inc. (I) 3,796   69,353
NAPCO Security Technologies, Inc. (I) 1,164   6,740
Newport Corp. (I) 5,207   99,245
OSI Systems, Inc. (I) 728   54,061
PAR Technology Corp. (I) 3,132   13,123
Park Electrochemical Corp. 3,038   65,499
PC Connection, Inc. 4,352   113,544
PCM, Inc. (I) 3,055   28,534
Planar Systems, Inc. (I) 5,100   32,079
Plexus Corp. (I) 3,089   125,939
Radisys Corp. (I) 5,279   11,350
RF Industries, Ltd. 120   491
Richardson Electronics, Ltd. 2,384   21,408
Rofin-Sinar Technologies, Inc. (I) 4,747   115,020
Rogers Corp. (I) 2,200   180,862
Sanmina Corp. (I) 15,560   376,396
ScanSource, Inc. (I) 2,542   103,332
SMTC Corp. (I) 490   725
SYNNEX Corp. 2,967   229,201
Tech Data Corp. (I) 28,168   1,627,265
TTM Technologies, Inc. (I) 18,607   167,649
Viasystems Group, Inc. (I) 3,526   61,670
Vicon Industries, Inc. 126   214
Vishay Intertechnology, Inc. 18,624   257,384
Vishay Precision Group, Inc. (I) 2,886   45,974
  11,687,508
Internet software and services - 0.7%    
AOL, Inc. (I) 12,851   509,028
Bankrate, Inc. (I) 9,842   111,608
Blucora, Inc. (I) 6,814   93,079
Dealertrack Technologies, Inc. (I) 950   36,594
Dice Holdings, Inc. (I) 7,855   70,067
EarthLink Holdings Corp. 15,906   70,623
InterActiveCorp 618   41,696
Internap Corp. (I) 4,743   48,521
IntraLinks Holdings, Inc. (I) 1,064   11,002
Limelight Networks, Inc. (I) 7,903   28,688
Monster Worldwide, Inc. (I) 28,794   182,554
Perficient, Inc. (I) 2,608   53,960
RealNetworks, Inc. (I) 3,943   26,536
Reis, Inc. 300   7,692
SciQuest, Inc. (I) 30,946   523,916
TechTarget, Inc. (I) 8,844   101,971
TheStreet, Inc. 4,157   7,483

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Small Cap Opportunities Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)    
Internet software and services (continued)    
XO Group, Inc. (I) 3,766 $ 66,545
  1,991,563
IT services - 1.8%    
Acxiom Corp. (I) 3,655   67,581
CACI International, Inc., Class A (I) 20,655   1,857,298
Ciber, Inc. (I) 13,394   55,183
Convergys Corp. 11,544   264,011
CoreLogic, Inc. (I) 3,946   139,175
CSG Systems International, Inc. 2,060   62,603
Datalink Corp. (I) 1,251   15,062
DST Systems, Inc. 5,988   662,931
ExlService Holdings, Inc. (I) 522   19,418
Jack Henry & Associates, Inc. 20,518   1,434,003
ManTech International Corp., Class A 4,529   153,714
ModusLink Global Solutions, Inc. (I) 7,816   30,092
NCI, Inc., Class A 2,106   21,102
StarTek, Inc. (I) 3,143   23,415
Sykes Enterprises, Inc. (I) 8,596   213,611
TeleTech Holdings, Inc. 1,791   45,581
The Hackett Group, Inc. 7,525   67,274
  5,132,054
Semiconductors and semiconductor equipment - 4.7%    
Advanced Energy Industries, Inc. (I) 3,450   88,527
Alpha & Omega Semiconductor, Ltd. (I) 4,513   40,211
Amkor Technology, Inc. (I) 9,473   83,694
Amtech Systems, Inc. (I) 338   3,779
Axcelis Technologies, Inc. (I) 27,071   64,429
AXT, Inc. (I) 4,229   11,376
Brooks Automation, Inc. 15,547   180,812
Cascade Microtech, Inc. (I) 1,892   25,693
Cirrus Logic, Inc. (I) 731   24,313
Cohu, Inc. 4,192   45,860
Cypress Semiconductor Corp. (I) 24,793   349,829
Diodes, Inc. (I) 1,789   51,094
DSP Group, Inc. (I) 4,494   53,838
Entegris, Inc. (I) 112,080   1,534,375
Entropic Communications, Inc. (I) 9,860   29,186
Fairchild Semiconductor International, Inc. (I) 81,713   1,485,542
First Solar, Inc. (I) 15,984   955,683
GigOptix, Inc. (I) 931   1,127
GSI Technology, Inc. (I) 3,507   20,691
Integrated Device Technology, Inc. (I) 65,573   1,312,771
Integrated Silicon Solution, Inc. 6,651   118,986
Intersil Corp., Class A 121,041   1,733,307
IXYS Corp. 7,588   93,484
Kulicke & Soffa Industries, Inc. (I) 14,905   232,965
Lattice Semiconductor Corp. (I) 16,204   102,733
Magnachip Semiconductor Corp. (I) 3,048   16,673
Microsemi Corp. (I) 45,402   1,607,231
MKS Instruments, Inc. 9,788   330,932
NeoPhotonics Corp. (I) 5,504   37,152
OmniVision Technologies, Inc. (I) 6,306   166,289
ON Semiconductor Corp. (I) 1,274   15,428
Pericom Semiconductor Corp. 4,434   68,594
Photronics, Inc. (I) 13,726   116,671
PMC-Sierra, Inc. (I) 7,616   70,676
Power Integrations, Inc. 22,477   1,170,602
Qorvo, Inc. (I) 11,927   950,582
Rudolph Technologies, Inc. (I) 5,137   56,610
Sigma Designs, Inc. (I) 7,902   63,453
Silicon Laboratories, Inc. (I) 528   26,807
Ultra Clean Holdings, Inc. (I) 1,700 12,155
13,354,160
Software - 3.0%
Blackbaud, Inc. 784 37,146
Bottomline Technologies, Inc. (I) 38,289 1,047,970
Cadence Design Systems, Inc. (I) 80,475 1,483,959
Epiq Systems, Inc. 7,845 140,661
ePlus, Inc. (I) 1,364 118,573
GSE Systems, Inc. (I) 2,016 3,024
Mentor Graphics Corp. 10,530 253,036
MicroStrategy, Inc., Class A (I) 9,898 1,674,643
Progress Software Corp. (I) 4,805 130,552
Rovi Corp. (I) 5,220 95,056
Seachange International, Inc. (I) 5,428 42,610
SS&C Technologies Holdings, Inc. 28,957 1,804,021
Take-Two Interactive Software, Inc. (I) 6,141 156,319
Telenav, Inc. (I) 9,785 77,497
Verint Systems, Inc. (I) 23,998 1,486,196
8,551,263
Technology hardware, storage and peripherals - 1.1%
Astro-Med, Inc. 1,439 20,132
Cray, Inc. (I) 62,311 1,749,693
Electronics For Imaging, Inc. (I) 5,466 228,206
Hutchinson Technology, Inc. (I) 5,052 13,489
Imation Corp. (I) 6,288 25,341
Lexmark International, Inc., Class A 12,325 521,841
QLogic Corp. (I) 17,751 261,650
Super Micro Computer, Inc. (I) 5,636 187,172
3,007,524
47,787,540
Materials - 7.1%
Chemicals - 2.8%
A. Schulman, Inc. 4,138 199,452
Axiall Corp. 5,489 257,654
Cabot Corp. 11,568 520,560
Calgon Carbon Corp. 2,524 53,181
Chase Corp. 1,174 51,339
Chemtura Corp. (I) 6,621 180,687
Core Molding Technologies, Inc. (I) 1,000 17,150
Cytec Industries, Inc. 2,186 118,131
FutureFuel Corp. 6,696 68,768
Hawkins, Inc. 330 12,537
HB Fuller Company 3,977 170,494
Huntsman Corp. 12,596 279,253
Innophos Holdings, Inc. 752 42,383
Innospec, Inc. 1,994 92,502
Intrepid Potash, Inc. (I) 800 9,240
KMG Chemicals, Inc. 1,101 29,430
Kraton Performance Polymers, Inc. (I) 7,990 161,478
LSB Industries, Inc. (I) 539 22,277
Minerals Technologies, Inc. 26,991 1,973,042
Olin Corp. 6,813 218,289
OM Group, Inc. 4,455 133,784
OMNOVA Solutions, Inc. (I) 6,574 56,076
PolyOne Corp. 36,984 1,381,352
Sensient Technologies Corp. 23,381 1,610,483
Trecora Resources (I) 2,774 33,843
Tronox, Ltd., Class A 6,193 125,904
Zep, Inc. 3,273 55,739
7,875,028

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Small Cap Opportunities Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)    
Construction materials - 0.5%    
Eagle Materials, Inc. 16,609 $ 1,387,848
United States Lime & Minerals, Inc. 839   54,116
  1,441,964
Containers and packaging - 1.7%    
AptarGroup, Inc. 281   17,849
Bemis Company, Inc. 6,040   279,712
Graphic Packaging Holding Company 149,403   2,172,320
Greif, Inc., Class A 785   30,827
MeadWestvaco Corp. 19,957   995,256
Myers Industries, Inc. 6,330   110,965
Rock-Tenn Company, Class A 14,226   917,577
Sonoco Products Company 5,792   263,304
  4,787,810
Metals and mining - 1.6%    
AM Castle & Company (I)(L) 4,342   15,848
Ampco-Pittsburgh Corp. 1,644   28,704
Century Aluminum Company (I) 12,885   177,813
Coeur Mining, Inc. (I) 10,600   49,926
Commercial Metals Company 11,325   183,352
Friedman Industries, Inc. 1,511   9,368
Haynes International, Inc. 26,147   1,166,418
Kaiser Aluminum Corp. 2,852   219,290
Materion Corp. 3,233   124,244
Noranda Aluminum Holding Corp. 71   211
Olympic Steel, Inc. 2,383   32,075
Reliance Steel & Aluminum Company 12,460   761,057
RTI International Metals, Inc. (I) 4,900   175,959
Schnitzer Steel Industries, Inc., Class A 5,182   82,187
Steel Dynamics, Inc. 30,186   606,739
SunCoke Energy, Inc. 6,433   96,109
Synalloy Corp. 2,039   29,688
TimkenSteel Corp. 248   6,565
United States Steel Corp. (L) 24,757   604,071
Universal Stainless & Alloy Products, Inc. (I) 1,562   40,956
  4,410,580
Paper and forest products - 0.5%    
Boise Cascade Company (I) 2,350   88,031
Clearwater Paper Corp. (I) 1,959   127,923
Domtar Corp. 10,244   473,478
KapStone Paper and Packaging Corp. 10,420   342,193
Mercer International, Inc. (I) 10,058   154,491
PH Glatfelter Company 4,610   126,913
Resolute Forest Products, Inc. (I) 9,682   167,015
Schweitzer-Mauduit International, Inc. 377   17,387
  1,497,431
  20,012,813
Telecommunication services - 1.4%    
Diversified telecommunication services - 1.1%    
Atlantic Tele-Network, Inc. 1,524   105,491
Frontier Communications Corp. 131,880   929,754
General Communication, Inc., Class A (I) 8,502   133,992
Hawaiian Telcom Holdco, Inc. (I) 2,368   63,060
Iridium Communications, Inc. (I)(L) 160,895   1,562,290
Premiere Global Services, Inc. (I) 3,309   31,634
Vonage Holdings Corp. (I) 30,776   151,110
Windstream Holdings, Inc. (L)   25,936     191,926
  3,169,257
Wireless telecommunication services - 0.3%    
Boingo Wireless, Inc. (I) 2,905   21,904
Leap Wireless International, Inc. (I) 8,053 20,294
Shenandoah Telecommunications Company 3,962   123,456
Spok Holdings, Inc. 5,172   99,147
Telephone & Data Systems, Inc. 16,512   411,149
United States Cellular Corp. (I) 4,616   164,884
  840,834
  4,010,091
Utilities - 0.6%    
Gas utilities - 0.5%    
UGI Corp. 42,881   1,397,492
Independent power and renewable electricity producers - 0.1%    
Ormat Technologies, Inc. (L) 9,116   346,590
Water utilities - 0.0%    
Consolidated Water Company, Ltd. 3,558   36,541
  1,780,623
TOTAL COMMON STOCKS (Cost $229,370,768) $ 280,792,163
 
WARRANTS - 0.0%		    
Magnum Hunter Resources Corp. (Expiration       
       Date: 04/15/2016) (I)(N) 805   0
TOTAL WARRANTS (Cost $855) $ 0
 
SECURITIES LENDING COLLATERAL - 2.6%		    
John Hancock Collateral Trust (W)(Y) 735,436   7,358,034
TOTAL SECURITIES LENDING    
COLLATERAL (Cost $7,358,087) $ 7,358,034
 
SHORT-TERM INVESTMENTS - 0.8%		    
Money market funds - 0.8%    
State Street Institutional Liquid Reserves    
       Fund, 0.0986% (Y) 2,358,611   2,358,611
TOTAL SHORT-TERM INVESTMENTS (Cost $2,358,611) $ 2,358,611
Total Investments (Small Cap Opportunities Trust)      
       (Cost $239,088,321) - 102.7% $ 290,508,808
Other assets and liabilities, net - (2.7%)   (7,658,174 )
TOTAL NET ASSETS - 100.0% $ 282,850,634

Small Cap Value Trust

Shares or
Principal
Amount        Value
COMMON STOCKS - 96.5%
Consumer discretionary - 8.6%
Hotels, restaurants and leisure - 0.0%  
International Speedway Corp., Class A 6,800 $ 221,748
Household durables - 2.7%  
Helen of Troy, Ltd. (I) 239,880   19,547,821
Multiline retail - 1.5%
Fred’s, Inc., Class A 626,102 10,700,083
Specialty retail - 4.4%  
Advance Auto Parts, Inc. 810 121,249
Ascena Retail Group, Inc. (I) 734,640 10,659,626
CST Brands, Inc. 5,050 221,342
Stage Stores, Inc. 472,869 10,838,157

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Small Cap Value Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)    
Specialty retail (continued)    
The Cato Corp., Class A 256,216 $ 10,146,154
  31,986,528
  62,456,180
Consumer staples - 4.8%    
Beverages - 1.2%    
C&C Group PLC 2,135,118   8,740,242
Food and staples retailing - 1.2%    
Casey’s General Stores, Inc. 100,400   9,046,040
Food products - 2.4%    
Cranswick PLC 352,742   7,172,327
Post Holdings, Inc. (I) 211,270   9,895,887
  17,068,214
  34,854,496
Energy - 6.1%    
Energy equipment and services - 2.2%    
Era Group, Inc. (I) 274,977   5,730,521
SEACOR Holdings, Inc. (I) 132,638   9,240,889
Tesco Corp. 129,658   1,474,211
  16,445,621
Oil, gas and consumable fuels - 3.9%    
Diamondback Energy, Inc. (I) 2,456   188,719
Dorian LPG, Ltd. (I) 427,680   5,572,670
RSP Permian, Inc. (I) 357,090   8,995,097
Scorpio Tankers, Inc. 1,432,100   13,490,382
  28,246,868
  44,692,489
Financials - 18.3%    
Banks - 10.3%    
First Busey Corp. 823,715   5,510,653
First Midwest Bancorp, Inc. 648,841   11,270,368
First Niagara Financial Group, Inc. 751,172   6,640,360
Flushing Financial Corp. 323,416   6,490,959
Hancock Holding Company 248,130   7,409,162
International Bancshares Corp. 490,204   12,760,010
MB Financial, Inc. 285,348   8,934,246
Webster Financial Corp. 436,800   16,183,440
  75,199,198
Capital markets - 1.0%    
Ares Capital Corp. 7,226   124,070
Solar Capital, Ltd. 333,335   6,746,700
  6,870,770
Insurance - 2.5%    
Alleghany Corp. (I) 458   223,046
AMERISAFE, Inc. 129,000   5,966,250
Assured Guaranty, Ltd. 4,040   106,616
Primerica, Inc. 225,440   11,474,896
Reinsurance Group of America, Inc. 2,530   235,771
White Mountains Insurance Group, Ltd. 270   184,820
  18,191,399
Real estate investment trusts - 3.1%    
Corrections Corp. of America 3,954   159,188
DiamondRock Hospitality Company 502,968   7,106,938
Education Realty Trust, Inc. 220,883   7,814,841
Kite Realty Group Trust 4,210   118,596
Mid-America Apartment Communities, Inc. 1,870   144,495
Summit Hotel Properties, Inc. 523,889 7,371,118
  22,715,176
Thrifts and mortgage finance - 1.4%    
Northwest Bancshares, Inc. 835,210   9,897,239
  132,873,782
Health care - 12.9%    
Health care equipment and supplies - 4.9%    
Haemonetics Corp. (I) 219,120   9,842,870
ICU Medical, Inc. (I) 142,846   13,304,676
STERIS Corp. (L) 176,310   12,389,304
  35,536,850
Health care providers and services - 1.7%    
Amsurg Corp. (I) 147,800   9,092,656
CorVel Corp. (I) 99,130   3,411,063
  12,503,719
Health care technology - 2.2%    
Allscripts Healthcare Solutions, Inc. (I) 735,490   8,796,460
MedAssets, Inc. (I) 372,980   7,019,484
  15,815,944
Life sciences tools and services - 3.0%    
Charles River    
       Laboratories International, Inc. (I) 188,960   14,982,638
ICON PLC (I) 102,920   7,258,948
  22,241,586
Pharmaceuticals - 1.1%    
Phibro Animal Health Corp., Class A 222,890   7,892,535
  93,990,634
Industrials - 23.9%    
Aerospace and defense - 2.1%    
Cubic Corp. 292,290   15,131,853
Air freight and logistics - 1.1%    
UTi Worldwide, Inc. (I) 633,340   7,790,082
Commercial services and supplies - 9.7%    
ACCO Brands Corp. (I) 1,134,460   9,427,363
Clean Harbors, Inc. (I) 2,070   117,535
G&K Services, Inc., Class A 254,570   18,463,962
Matthews International Corp., Class A 232,170   11,959,077
SP Plus Corp. (I) 450,818   9,850,373
Steelcase, Inc., Class A 347,090   6,573,885
United Stationers, Inc. 343,568   14,082,852
  70,475,047
Industrial conglomerates - 0.0%    
Carlisle Companies, Inc. 2,556   236,762
Machinery - 7.1%    
Albany International Corp., Class A 373,224   14,835,654
CIRCOR International, Inc. 72,202   3,949,449
ESCO Technologies, Inc. 247,352   9,641,781
Luxfer Holdings PLC, ADR 332,670   4,447,798
Mueller Industries, Inc. 527,260   19,049,904
  51,924,586
Professional services - 2.1%    
FTI Consulting, Inc. (I) 261,060   9,779,308
Mistras Group, Inc. (I) 306,484   5,902,882
  15,682,190

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Small Cap Value Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)    
Trading companies and distributors - 1.8%    
GATX Corp. 221,530 $ 12,844,309
  174,084,829
Information technology - 11.8%    
Electronic equipment, instruments and components - 6.5%    
Belden, Inc. 296,159   27,708,636
Coherent, Inc. (I) 118,100   7,671,776
ScanSource, Inc. (I) 291,600   11,853,540
  47,233,952
IT services - 2.6%      
Forrester Research, Inc. 262,533   9,655,964
MAXIMUS, Inc. 133,739   8,928,416
    18,584,380
Semiconductors and semiconductor equipment - 1.1%      
Maxim Integrated Products, Inc. 5,780   201,202
Micrel, Inc. 523,818   7,899,175
  8,100,377
Software - 0.0%    
Verint Systems, Inc. (I) 740   45,828
Technology hardware, storage and peripherals - 1.6%    
Diebold, Inc. 334,060   11,845,768
  85,810,305
Materials - 7.2%    
Chemicals - 4.8%    
Innospec, Inc. 186,380   8,646,168
Koppers Holdings, Inc. 238,925   4,702,044
Sensient Technologies Corp. 196,270   13,519,078
Zep, Inc. 470,050   8,004,952
  34,872,242
Containers and packaging - 1.1%    
AptarGroup, Inc. 1,478   93,883
Greif, Inc., Class A 190,240   7,470,725
  7,564,608
Paper and forest products - 1.3%    
Deltic Timber Corp. 146,536   9,708,010
  52,144,860
Utilities - 2.9%    
Electric utilities - 0.0%    
Westar Energy, Inc. 2,290   88,760
Gas utilities - 2.9%    
Atmos Energy Corp. 1,950   107,835
New Jersey Resources Corp. 170,108   5,283,554
The Laclede Group, Inc. 156,950   8,038,979
UGI Corp. 4,830   157,410
WGL Holdings, Inc. 136,960   7,724,544
  21,312,322
  21,401,082
TOTAL COMMON STOCKS (Cost $483,167,488) $ 702,308,657
 
SECURITIES LENDING COLLATERAL - 0.6%		    
John Hancock    
       Collateral Trust, 0.1102% (W)(Y) 467,481   4,677,150
TOTAL SECURITIES LENDING    
COLLATERAL (Cost $4,677,150) $ 4,677,150
 
SHORT-TERM INVESTMENTS - 3.2%
Repurchase agreement - 3.2%  
Bank of America Tri-Party Repurchase
       Agreement dated 03/31/2015 at 0.120% to
       be repurchased at $23,400,078 on  
       04/01/2015, collateralized by $12,887,000
       Federal Farm Credit Bank, 3.540% - 3.840%
       due 09/08/2026 - 08/06/2029 (valued at
       $13,062,778, including interest) and
       $10,835,000 Federal Home Loan Bank,
       2.900% - 3.370% due 09/10/2024 -
       09/21/2034 (valued at $10,805,646,  
       including interest) $ 23,400,000 $ 23,400,000
TOTAL SHORT-TERM INVESTMENTS (Cost $23,400,000) $ 23,400,000
Total Investments (Small Cap Value Trust)
       (Cost $511,244,638) - 100.3% $ 730,385,807
Other assets and liabilities, net - (0.3%) (2,401,905 )
TOTAL NET ASSETS - 100.0% $ 727,983,902

Small Company Growth Trust

Shares or
Principal
Amount        Value
COMMON STOCKS - 97.8%
Consumer discretionary - 12.9%
Distributors - 0.8%  
Pool Corp. 15,369 $ 1,072,141
Hotels, restaurants and leisure - 5.6%    
BJ’s Restaurants, Inc. (I) 19,730 995,379
Brinker International, Inc. 16,670   1,026,196
Choice Hotels International, Inc. 17,198 1,101,876
Domino’s Pizza, Inc. 9,617 966,989
Jack in the Box, Inc. 23,756 2,278,676
The Cheesecake Factory, Inc. 17,887 882,366
  7,251,482
Household durables - 0.7%  
Standard Pacific Corp. (I) 107,470 967,230
Leisure products - 0.8%
Brunswick Corp. 19,319 993,963
Specialty retail - 3.1%
ANN, Inc. (I) 21,841 896,136
DSW, Inc., Class A 25,130 926,794
Five Below, Inc. (I) 20,824 740,710
Group 1 Automotive, Inc. 11,864 1,024,219
Vitamin Shoppe, Inc. (I)   11,375 468,536
4,056,395
Textiles, apparel and luxury goods - 1.9%
G-III Apparel Group, Ltd. (I) 12,865 1,449,242
Steven Madden, Ltd. (I) 28,243 1,073,234
2,522,476
16,863,687
Consumer staples - 1.3%
Food products - 1.3%
B&G Foods, Inc. 23,943 704,642

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (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. 10,841 $ 1,031,738
  1,736,380
  1,736,380
Energy - 3.5%    
Energy equipment and services - 1.1%    
Atwood Oceanics, Inc. 13,615   382,718
Dril-Quip, Inc. (I) 10,029   685,883
Patterson-UTI Energy, Inc. 21,122   396,566
  1,465,167
Oil, gas and consumable fuels - 2.4%    
Energen Corp. 13,052   861,432
Laredo Petroleum, Inc. (I)(L) 31,642   412,612
Oasis Petroleum, Inc. (I)(L) 23,023   327,387
SemGroup Corp., Class A 10,964   891,812
Ultra Petroleum Corp. (I)(L) 37,397   584,515
  3,077,758
  4,542,925
Financials - 7.4%    
Banks - 2.8%    
Hancock Holding Company 25,438   759,579
Home BancShares, Inc. 27,216   922,350
SVB Financial Group (I) 9,781   1,242,578
UMB Financial Corp. 15,329   810,751
  3,735,258
Capital markets - 2.8%    
Affiliated Managers Group, Inc. (I) 4,391   943,099
Janus Capital Group, Inc. 70,952   1,219,665
Stifel Financial Corp. (I) 26,456   1,474,922
  3,637,686
Insurance - 0.9%    
American Equity Investment Life    
       Holding Company 38,862   1,132,050
Real estate investment trusts - 0.9%    
Corrections Corp. of America 29,111   1,172,009
  9,677,003
Health care - 23.2%    
Biotechnology - 5.3%    
Alnylam Pharmaceuticals, Inc. (I) 10,854   1,133,375
Enanta Pharmaceuticals, Inc. (I)(L) 12,478   382,076
Exact Sciences Corp. (I)(L) 57,186   1,259,236
Incyte Corp., Ltd. (I) 16,362   1,499,741
Kythera Biopharmaceuticals, Inc. (I) 3,975   199,346
Neurocrine Biosciences, Inc. (I) 24,067   955,701
Repligen Corp. (I) 26,077   791,698
Seattle Genetics, Inc. (I) 20,257   716,085
  6,937,258
Health care equipment and supplies - 5.2%    
DexCom, Inc. (I) 22,212   1,384,696
Hill-Rom Holdings, Inc. 20,989   1,028,461
NuVasive, Inc. (I) 25,529   1,174,079
Sirona Dental Systems, Inc. (I) 11,571   1,041,274
STERIS Corp. 19,754   1,388,114
Thoratec Corp. (I) 19,037   797,460
  6,814,084
Health care providers and services - 5.7%    
Chemed Corp. 11,638   1,389,577
Community Health Systems, Inc. (I) 22,548 1,178,809
Envision Healthcare Holdings, Inc. (I) 25,479   977,120
HealthSouth Corp. 26,008   1,153,715
Select Medical Holdings Corp. 65,711   974,494
VCA, Inc. (I) 31,528   1,728,365
  7,402,080
Health care technology - 0.2%    
HMS Holdings Corp. (I) 18,115   279,877
Life sciences tools and services - 3.1%    
Affymetrix, Inc. (I) 39,903   501,182
Bio-Techne Corp. 10,450   1,048,031
PAREXEL International Corp. (I) 18,764   1,294,528
PerkinElmer, Inc. 19,819   1,013,544
VWR Corp. (I) 8,777   228,114
  4,085,399
Pharmaceuticals - 3.7%    
Catalent, Inc. (I) 35,172   1,095,608
Jazz Pharmaceuticals PLC (I) 5,673   980,238
Nektar Therapeutics (I) 72,016   792,176
Pacira Pharmaceuticals, Inc. (I) 8,639   767,575
Salix Pharmaceuticals, Ltd. (I)(L) 6,661   1,151,087
  4,786,684
  30,305,382
Industrials - 16.3%    
Aerospace and defense - 1.6%    
Hexcel Corp. 20,935   1,076,478
TransDigm Group, Inc. 4,954   1,083,539
  2,160,017
Air freight and logistics - 0.9%    
Forward Air Corp. 20,951   1,137,639
Building products - 0.8%    
AO Smith Corp. 16,537   1,085,819
Commercial services and supplies - 2.0%    
Pitney Bowes, Inc. 46,842   1,092,355
Steelcase, Inc., Class A 54,428   1,030,866
Tetra Tech, Inc. 21,184   508,840
  2,632,061
Construction and engineering - 0.4%    
MasTec, Inc. (I) 26,782   516,893
Electrical equipment - 1.2%    
Acuity Brands, Inc. 9,004   1,514,113
Machinery - 4.7%    
Crane Company 13,794   860,884
ITT Corp. 27,301   1,089,583
Lincoln Electric Holdings, Inc. 14,910   974,965
WABCO Holdings, Inc. (I) 10,954   1,346,028
Wabtec Corp. 19,118   1,816,401
  6,087,861
Marine - 0.7%    
Kirby Corp. (I) 11,600   870,580
Professional services - 0.0%    
The Corporate Executive Board Company 197   15,732
Road and rail - 2.5%    
Knight Transportation, Inc. 42,066   1,356,629
Old Dominion Freight Line, Inc. (I) 8,935   690,676

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Small Company Growth Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)    
Road and rail (continued)    
Swift Transportation Company (I) 44,487 $ 1,157,552
  3,204,857
Trading companies and distributors - 1.5%    
Watsco, Inc. 9,700   1,219,290
WESCO International, Inc. (I) 11,546   806,950
  2,026,240
  21,251,812
Information technology - 28.2%    
Communications equipment - 2.2%    
ARRIS Group, Inc. (I) 42,772   1,235,897
Finisar Corp. (I) 33,381   712,351
Infinera Corp. (I) 48,727   958,460
  2,906,708
Electronic equipment, instruments and components - 3.2%    
Cognex Corp. (I) 22,713   1,126,338
IPG Photonics Corp. (I) 8,822   817,799
National Instruments Corp. 24,642   789,530
SYNNEX Corp. 17,688   1,366,398
  4,100,065
Internet software and services - 3.6%    
CoStar Group, Inc. (I) 10,091   1,996,303
Dealertrack Technologies, Inc. (I) 22,219   855,876
Envestnet, Inc. (I) 18,525   1,038,882
HomeAway, Inc. (I) 25,796   778,265
  4,669,326
IT services - 1.9%    
Booz Allen Hamilton Holding Corp. 36,723   1,062,764
EPAM Systems, Inc. (I) 22,331   1,368,667
  2,431,431
Semiconductors and semiconductor equipment - 5.3%    
Atmel Corp. 128,897   1,060,822
Cavium, Inc. (I) 18,130   1,283,967
MKS Instruments, Inc. 21,623   731,074
Monolithic Power Systems, Inc. 20,251   1,066,215
Power Integrations, Inc. 18,753   976,656
Silicon Laboratories, Inc. (I) 18,827   955,847
Teradyne, Inc. 47,554   896,393
  6,970,974
Software - 11.3%    
Aspen Technology, Inc. (I) 25,510   981,880
Cadence Design Systems, Inc. (I) 53,410   984,880
CommVault Systems, Inc. (I) 11,138   486,731
Guidewire Software, Inc. (I) 20,877   1,098,339
Interactive Intelligence Group, Inc. (I) 16,109   663,369
Manhattan Associates, Inc. (I) 57,908   2,930,724
Mentor Graphics Corp. 41,050   986,432
MicroStrategy, Inc., Class A (I) 6,845   1,158,106
Qlik Technologies, Inc. (I) 33,491   1,042,575
Qualys, Inc. (I) 24,617   1,144,198
SolarWinds, Inc. (I) 21,155   1,083,982
The Ultimate Software Group, Inc. (I) 6,840   1,162,492
Verint Systems, Inc. (I) 16,591   1,027,481
  14,751,189
Technology hardware, storage and peripherals - 0.7%    
Cray, Inc. (I) 34,187   959,971
  36,789,664
Materials - 2.8%
Chemicals - 0.8%
PolyOne Corp. 29,822 1,113,852
Construction materials - 0.8%
Martin Marietta Materials, Inc. 7,340 1,026,132
Containers and packaging - 0.8%
Berry Plastics Group, Inc. (I) 27,284 987,408
Metals and mining - 0.4%
Carpenter Technology Corp. 13,075 508,356
3,635,748
Telecommunication services - 1.4%
Wireless telecommunication services - 1.4%
SBA Communications Corp., Class A (I) 16,001 1,873,717
Utilities - 0.8%
Electric utilities - 0.8%
ITC Holdings Corp. 27,111 1,014,765
TOTAL COMMON STOCKS (Cost $91,066,426) $ 127,691,083
             
SECURITIES LENDING COLLATERAL - 3.0%
John Hancock
       Collateral Trust, 0.1102% (W)(Y) 388,491 3,886,849
TOTAL SECURITIES LENDING  
COLLATERAL (Cost $3,886,870) $ 3,886,849
             
SHORT-TERM INVESTMENTS - 2.1%  
Money market funds - 2.1%
State Street Institutional Liquid Reserves
       Fund, 0.0986% (Y) 2,797,585 2,797,585
TOTAL SHORT-TERM INVESTMENTS (Cost $2,797,585) $ 2,797,585
Total Investments (Small Company Growth Trust)
       (Cost $97,750,881) - 102.9% $ 134,375,517
Other assets and liabilities, net - (2.9%) (3,822,881 )
TOTAL NET ASSETS - 100.0% $ 130,552,636

Small Company Value Trust

Shares or
Principal
Amount        Value
COMMON STOCKS - 98.3%    
Consumer discretionary - 13.1%    
Auto components - 2.1%    
Dorman Products, Inc. (I)(L) 46,000 $ 2,288,500
Drew Industries, Inc. 52,100   3,206,234
Modine Manufacturing Company (I) 125,600   1,691,832
  7,186,566
Distributors - 0.9%    
Pool Corp. 42,700   2,978,752
Diversified consumer services - 0.5%    
American Public Education, Inc. (I) 35,400   1,061,292
Apollo Education Group, Inc. (I) 36,100   683,012
  1,744,304
Hotels, restaurants and leisure - 0.8%    
Belmond, Ltd., Class A (I) 38,000   466,640
Interval Leisure Group, Inc. 34,000   891,140

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (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) 16,300 $ 1,418,100
  2,775,880
Household durables - 2.0%    
CSS Industries, Inc. 56,600   1,706,490
Ethan Allen Interiors, Inc. 61,200   1,691,568
Meritage Homes Corp. (I) 73,300   3,565,312
  6,963,370
Leisure products - 0.5%    
Brunswick Corp. 37,500   1,929,375
Media - 1.4%    
National CineMedia, Inc. 36,900   557,190
New Media Investment Group, Inc. 79,400   1,900,042
Saga Communications, Inc., Class A 49,800   2,218,092
Scholastic Corp. 4,800   196,512
  4,871,836
Multiline retail - 0.4%    
Fred’s, Inc., Class A 79,000   1,350,110
Specialty retail - 3.4%    
Aaron’s, Inc. 185,401   5,248,674
Haverty Furniture Companies, Inc. 87,200   2,169,536
Pier 1 Imports, Inc. 147,600   2,063,448
Sportsman’s Warehouse Holdings, Inc. (I)(L) 119,700   956,403
Stein Mart, Inc. 101,400   1,262,430
  11,700,491
Textiles, apparel and luxury goods - 1.1%    
Crocs, Inc. (I) 60,600   715,686
Culp, Inc. 74,200   1,984,850
Quiksilver, Inc. (I)(L) 208,500   385,725
Steven Madden, Ltd. (I) 23,700   900,600
  3,986,861
  45,487,545
Consumer staples - 2.2%    
Food and staples retailing - 1.0%    
PriceSmart, Inc. 10,400   883,792
SpartanNash Company 86,220   2,721,103
  3,604,895
Food products - 0.9%    
Pinnacle Foods, Inc. 38,300   1,563,023
Post Holdings, Inc. (I) 37,200   1,742,448
  3,305,471
Tobacco - 0.3%    
Vector Group, Ltd. (L) 41,000   900,770
  7,811,136
Energy - 3.6%    
Energy equipment and services - 1.4%    
Atwood Oceanics, Inc. 39,400   1,107,534
Bristow Group, Inc. 17,700   963,765
CARBO Ceramics, Inc. (L) 28,200   860,382
Tesco Corp. 94,100   1,069,917
TETRA Technologies, Inc. (I) 129,400   799,692
  4,801,290
Oil, gas and consumable fuels - 2.2%    
Clayton Williams Energy, Inc. (I)(L) 23,200   1,174,616
GasLog, Ltd. (L) 39,600   769,032
Matador Resources Company (I)(L) 75,900   1,663,728
PDC Energy, Inc. (I) 27,800   1,502,312
Rosetta Resources, Inc. (I) 44,600 759,092
Teekay Tankers, Ltd., Class A (L) 316,700   1,817,858
  7,686,638
  12,487,928
Financials - 28.4%    
Banks - 9.9%    
BBCN Bancorp, Inc. 98,100   1,419,507
Columbia Banking System, Inc. 80,500   2,332,085
East West Bancorp, Inc. 143,300   5,797,918
Glacier Bancorp, Inc. 123,700   3,111,055
Home BancShares, Inc. 185,800   6,296,762
National Bank Holdings Corp., Class A 96,800   1,820,808
Sandy Spring Bancorp, Inc. 76,200   1,998,726
Signature Bank (I) 23,000   2,980,340
SVB Financial Group (I) 40,600   5,157,824
Wintrust Financial Corp. 75,700   3,609,376
  34,524,401
Capital markets - 2.8%    
Ares Capital Corp. 130,500   2,240,685
Hercules Technology Growth Capital, Inc. (L) 158,100   2,131,188
Janus Capital Group, Inc. 79,900   1,373,481
JMP Group LLC 66,400   556,432
Main Street Capital Corp. (L) 26,400   815,760
Piper Jaffray Companies (I) 21,700   1,138,382
Safeguard Scientifics, Inc. (I) 75,700   1,368,656
  9,624,584
Diversified financial services - 0.5%    
Compass Diversified Holdings 91,300   1,561,230
Insurance - 4.2%    
Assured Guaranty, Ltd. 57,000   1,504,230
Employers Holdings, Inc. 89,150   2,406,159
Enstar Group, Ltd. (I) 3,200   453,952
Meadowbrook Insurance Group, Inc. 194,300   1,651,550
National Interstate Corp. 69,600   1,954,368
ProAssurance Corp. 131,500   6,037,165
Safety Insurance Group, Inc. 9,900   591,525
State Auto Financial Corp. 8,200   199,178
  14,798,127
Real estate investment trusts - 9.9%    
Acadia Realty Trust 91,700   3,198,496
Associated Estates Realty Corp. 67,900   1,675,772
CatchMark Timber Trust, Inc., Class A 58,330   683,628
CBL & Associates Properties, Inc. 124,000   2,455,200
Cedar Realty Trust, Inc. 192,400   1,441,076
Corporate Office Properties Trust 28,200   828,516
Douglas Emmett, Inc. 12,400   369,644
First Potomac Realty Trust 154,900   1,841,761
Hatteras Financial Corp. 112,100   2,035,736
Home Properties, Inc. 24,000   1,662,960
Kilroy Realty Corp. 35,800   2,726,886
Kite Realty Group Trust 53,900   1,518,363
LaSalle Hotel Properties 85,700   3,330,302
Potlatch Corp. 56,400   2,258,256
PS Business Parks, Inc. 13,100   1,087,824
Redwood Trust, Inc. 120,500   2,153,335
Saul Centers, Inc. 34,800   1,990,560
Strategic Hotels & Resorts, Inc. (I) 124,300   1,545,049
Washington Real Estate Investment Trust 64,700   1,787,661
  34,591,025

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Small Company Value Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)    
Real estate management and development - 0.2%    
Forestar Group, Inc. (I) 49,400 $ 779,038
Thrifts and mortgage finance - 0.9%    
Radian Group, Inc. (L) 132,300   2,221,317
WSFS Financial Corp. 11,500   869,745
  3,091,062
  98,969,467
Health care - 6.7%    
Biotechnology - 0.3%    
Momenta Pharmaceuticals, Inc. (I) 78,000   1,185,600
Health care equipment and supplies - 4.1%    
Analogic Corp. 21,700   1,972,530
Atrion Corp. 6,200   2,142,162
Halyard Health, Inc. (I) 64,900   3,193,080
Quidel Corp. (I) 63,500   1,713,230
West Pharmaceutical Services, Inc. 88,000   5,298,480
  14,319,482
Health care providers and services - 2.3%    
National Healthcare Corp. 41,600   2,650,336
Select Medical Holdings Corp. 80,100   1,187,883
The Ensign Group, Inc. 15,800   740,388
Triple-S Management Corp., Class B (I) 56,400   1,121,232
WellCare Health Plans, Inc. (I) 23,400   2,140,164
  7,840,003
  23,345,085
Industrials - 21.9%    
Aerospace and defense - 0.2%    
Cubic Corp. 17,300   895,621
Air freight and logistics - 0.8%    
Hub Group, Inc., Class A (I) 39,100   1,536,239
UTi Worldwide, Inc. (I) 99,500   1,223,850
  2,760,089
Airlines - 1.6%    
Alaska Air Group, Inc. 85,200   5,638,536
Building products - 1.1%    
Gibraltar Industries, Inc. (I) 110,300   1,810,023
Universal Forest Products, Inc. 39,600   2,197,008
  4,007,031
Commercial services and supplies - 5.0%    
Brady Corp., Class A 29,200   826,068
G&K Services, Inc., Class A 55,300   4,010,909
Matthews International Corp., Class A 70,700   3,641,757
McGrath RentCorp. 115,430   3,798,801
MSA Safety, Inc. 51,400   2,563,832
US Ecology, Inc. 50,400   2,518,488
  17,359,855
Construction and engineering - 1.1%    
Aegion Corp. (I) 91,900   1,658,795
Comfort Systems USA, Inc. 96,700   2,034,568
  3,693,363
Electrical equipment - 0.6%    
Franklin Electric Company, Inc. 52,700   2,009,978
Machinery - 4.1%    
Astec Industries, Inc. 34,500   1,479,360
CIRCOR International, Inc. 38,600   2,111,420
ESCO Technologies, Inc. 71,000   2,767,580
Hillenbrand, Inc. 25,910   799,842
Luxfer Holdings PLC, ADR 46,150 617,026
Nordson Corp. 33,800   2,647,892
RBC Bearings, Inc. 15,500   1,186,370
Sun Hydraulics Corp. 34,200   1,414,512
Woodward, Inc. 26,430   1,348,194
  14,372,196
Marine - 0.7%    
Kirby Corp. (I) 32,300   2,424,115
Professional services - 0.9%    
FTI Consulting, Inc. (I) 45,300   1,696,938
Navigant Consulting, Inc. (I) 118,200   1,531,872
  3,228,810
Road and rail - 3.9%    
Genesee & Wyoming, Inc., Class A (I) 65,400   6,307,176
Landstar System, Inc. 78,300   5,191,290
Universal Truckload Services, Inc. 61,589   1,550,811
YRC Worldwide, Inc. (I) 24,300   436,428
  13,485,705
Trading companies and distributors - 1.9%    
Beacon Roofing Supply, Inc. (I) 144,900   4,535,370
Kaman Corp. 47,000   1,994,210
  6,529,580
  76,404,879
Information technology - 10.0%    
Communications equipment - 0.7%    
Ixia (I) 155,300   1,883,789
Sonus Networks, Inc. (I) 61,940   488,087
  2,371,876
Electronic equipment, instruments and components - 6.1%    
Badger Meter, Inc. 14,500   869,130
Belden, Inc. 52,900   4,949,324
Electro Rent Corp. 136,100   1,543,374
Electro Scientific Industries, Inc. 124,100   766,938
Fabrinet (I) 92,300   1,752,777
Littelfuse, Inc. 42,500   4,224,075
Methode Electronics, Inc. 35,900   1,688,736
Newport Corp. (I) 58,400   1,113,104
SYNNEX Corp. 56,900   4,395,525
  21,302,983
Semiconductors and semiconductor equipment - 2.6%    
Advanced Energy Industries, Inc. (I) 81,200   2,083,592
Brooks Automation, Inc. 92,300   1,073,449
Cabot Microelectronics Corp. (I) 62,500   3,123,125
Entegris, Inc. (I) 62,400   854,256
Intersil Corp., Class A 36,800   526,976
Teradyne, Inc. 88,100   1,660,685
  9,322,083
Software - 0.6%    
Progress Software Corp. (I) 73,900   2,007,863
  35,004,805
Materials - 7.7%    
Chemicals - 2.7%    
American Vanguard Corp. 81,600   866,592
Innospec, Inc. 104,700   4,857,033
Minerals Technologies, Inc. 50,400   3,684,240
  9,407,865

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Small Company Value Trust (continued)

Shares or
Principal
Amount		 Value
COMMON STOCKS (continued)              
Containers and packaging - 1.9%
AptarGroup, Inc. 70,100 $ 4,452,752
Myers Industries, Inc. 118,400 2,075,552
  6,528,304
Metals and mining - 1.0%
Carpenter Technology Corp. 26,500 1,030,320
Royal Gold, Inc. 20,200 1,274,822
Ryerson Holding Corp. (I) 41,800 266,266
Stillwater Mining Company (I)   87,000   1,124,040
3,695,448
Paper and forest products - 2.1%
Clearwater Paper Corp. (I) 44,000 2,873,200
Deltic Timber Corp. 36,200 2,398,250
Wausau Paper Corp. 209,100 1,992,723
7,264,173
26,895,790
Utilities - 4.7%
Electric utilities - 2.3%
Cleco Corp. 57,300 3,123,996
El Paso Electric Company 63,100 2,438,184
PNM Resources, Inc. 74,000 2,160,800
Portland General Electric Company 9,600 356,064
8,079,044
Gas utilities - 1.0%
ONE Gas, Inc. 16,700 721,941
Southwest Gas Corp. 48,200 2,803,794
3,525,735
Multi-utilities - 1.4%
Black Hills Corp. 33,000 1,664,520
NorthWestern Corp. 53,700 2,888,523
Vectren Corp. 6,400 282,496
4,835,539
16,440,318
TOTAL COMMON STOCKS (Cost $224,955,646) $ 342,846,953
 
INVESTMENT COMPANIES - 0.2%
iShares Russell 2000 Value ETF (L) 6,800 701,828
TOTAL INVESTMENT COMPANIES (Cost $403,071) $ 701,828
 
SECURITIES LENDING COLLATERAL - 3.0%
John Hancock
       Collateral Trust, 0.1102% (W)(Y) 1,039,481 10,400,011
TOTAL SECURITIES LENDING
COLLATERAL (Cost $10,400,226) $ 10,400,011
 
SHORT-TERM INVESTMENTS - 1.5%
Money market funds - 1.5%
State Street Institutional U.S. Government
       Money Market Fund, 0.0000% (Y) 450,000 450,000
T.Rowe Price Reserve Investment
       Fund, 0.0384% (Y) 4,842,390 4,842,390
TOTAL SHORT-TERM INVESTMENTS (Cost $5,292,390) $ 5,292,390  
Total Investments (Small Company Value Trust)
       (Cost $241,051,333) - 103.0% $ 359,241,182
Other assets and liabilities, net - (3.0%) (10,461,901 )
TOTAL NET ASSETS - 100.0% $ 348,779,281

Strategic Equity Allocation Trust

Shares or
Principal
       Amount        Value
COMMON STOCKS - 96.6%
Consumer discretionary - 12.3%
Auto components - 0.7%
Aisin Seiki Company, Ltd.   48,604   $ 1,762,153
American Axle &  
       Manufacturing Holdings, Inc. (I) 14,982 386,985
BorgWarner, Inc. 78,146 4,726,270
Bridgestone Corp. 164,074 6,569,510
Cie Generale des Etablissements Michelin 46,689 4,642,983
Continental AG 27,772 6,540,206
Cooper Tire & Rubber Company 12,767 546,938
Cooper-Standard Holding, Inc. (I) 3,046 180,323
Dana Holding Corp. 115,020 2,433,823
Delphi Automotive PLC 100,173 7,987,795
Denso Corp. 122,595 5,588,532
Dorman Products, Inc. (I) (L) 6,072 302,082
Drew Industries, Inc. 5,227 321,670
Federal-Mogul Holdings Corp. (I) 6,690 89,044
Fox Factory Holding Corp. (I) 2,708 41,541
Fuel Systems Solutions, Inc. (I) 3,967 43,796
Gentex Corp. 138,784 2,539,747
Gentherm, Inc. (I) 7,910 399,534
GKN PLC 416,841 2,211,079
Johnson Controls, Inc. 226,840 11,441,810
Koito Manufacturing Company, Ltd. 24,666 741,676
Modine Manufacturing Company (I) 10,897 146,783
Motorcar Parts of America, Inc. (I) 4,084 113,494
NGK Spark Plug Company, Ltd. 45,399 1,218,691
NHK Spring Company, Ltd. 38,577 401,320
NOK Corp. 23,472 705,745
Nokian Renkaat OYJ (L) 28,806 858,471
Pirelli & C. SpA 60,435 1,000,364
Remy International Inc. (I) 6,988 155,203
Spartan Motors, Inc. 8,768 42,525
Standard Motor Products, Inc. 4,403 186,071
Stanley Electric Company, Ltd. 36,167 816,373
Stoneridge, Inc. (I) 6,528 73,701
Strattec Security Corp. 834 61,583
Sumitomo Electric Industries, Ltd. 191,543 2,510,832
Sumitomo Rubber Industries, Ltd. 41,902 772,395
Superior Industries International, Inc. 5,556 105,175
Tenneco, Inc. (I) 13,488 774,481
The Goodyear Tire & Rubber Company 93,057 2,519,984
The Yokohama Rubber Company, Ltd. 53,000 546,327
Tower International, Inc. (I) 4,721 125,579
Toyoda Gosei Company, Ltd. 15,903 355,005
Toyota Industries Corp. 41,353 2,365,261
Valeo SA 18,960 2,827,982
  78,180,842
Automobiles - 1.6%
Bayerische Motoren Werke AG 83,687 10,421,971
Daihatsu Motor Company, Ltd. 48,712 745,079
Daimler AG (L) 243,399 23,374,756
Fiat Chrysler Automobiles NV (I) 227,503 3,693,299
Ford Motor Company 1,365,083 22,032,440
Fuji Heavy Industries, Ltd. 148,012 4,913,440
General Motors Company 466,769 17,503,838
Harley-Davidson, Inc. 73,016 4,434,992
Honda Motor Company, Ltd. 411,973 13,448,003
Isuzu Motors, Ltd. 150,900 2,002,062
Mazda Motor Corp. 135,700 2,749,530
Mitsubishi Motors Corp. 162,437 1,464,654
Nissan Motor Company, Ltd. 627,696 6,384,009
Peugeot SA (I) 99,497 1,663,153

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

Shares or
Principal
       Amount        Value
COMMON STOCKS (continued)
Automobiles (continued)
Renault SA 48,494 $ 4,404,712
Suzuki Motor Corp. 91,543 2,749,422
Thor Industries, Inc. 21,831 1,379,938
Toyota Motor Corp. 690,952 48,231,021
Volkswagen AG 7,494     1,926,874
Winnebago Industries, Inc. 6,165 131,068
Yamaha Motor Company, Ltd. 66,613 1,604,749
175,259,010
Distributors - 0.1%
Core-Mark Holding Company, Inc. 5,115 328,997
Genuine Parts Company 52,694 4,910,554
Jardine Cycle and Carriage, Ltd. 26,467 790,540
LKQ Corp. (I)   142,921 3,653,061
Pool Corp. 10,029 699,623
VOXX International Corp. (I) 5,030 46,075
Weyco Group, Inc. 1,610 48,139
10,476,989
Diversified consumer services - 0.1%
2U, Inc. (I) 2,413 61,725
American Public Education, Inc. (I) 3,918 117,462
Apollo Education Group, Inc. (I) 45,397 858,911
Ascent Capital Group, Inc., Class A (I) 3,343 133,085
Benesse Holdings, Inc. 16,555 520,788
Bridgepoint Education, Inc. (I) 3,975 38,359
Bright Horizons Family Solutions, Inc. (I) 6,791 348,175
Capella Education Company 2,467 160,059
Career Education Corp. (I) 16,102 80,993
Carriage Services, Inc. 3,643 86,958
Chegg, Inc. (I) (L) 16,973 134,935
Collectors Universe, Inc. 1,753 39,548
DeVry Education Group, Inc. 26,984 900,186
Graham Holdings Company, Class B 2,081 2,184,280
Grand Canyon Education, Inc. (I) 10,416 451,013
H&R Block, Inc. 94,346 3,025,676
Houghton Mifflin Harcourt Company (I) 24,269 569,836
ITT Educational Services, Inc. (I) (L) 5,410 36,734
K12, Inc. (I) 7,833 123,135
LifeLock, Inc. (I) 18,017 254,220
Regis Corp. (I) 9,822 160,688
Service Corp. International 95,365 2,484,258
Sotheby’s (L) 42,451 1,793,979
Steiner Leisure, Ltd. (I) 3,133 148,504
Strayer Education, Inc. (I) 2,438 130,214
Universal Technical Institute, Inc. 5,210 50,016
Weight Watchers International, Inc. (L) (I) 6,513 45,526
14,939,263
Hotels, restaurants and leisure - 1.6%
Accor SA 43,489 2,267,781
Belmond, Ltd., Class A (I) 21,682 266,255
Biglari Holdings, Inc. (I) 391 161,913
BJ’s Restaurants, Inc. (I) 4,826 243,472
Bloomin’ Brands, Inc. 17,167 417,673
Bob Evans Farms, Inc. 5,549 256,697
Boyd Gaming Corp. (I) 17,372 246,682
Bravo Brio Restaurant Group, Inc. (I) 4,932 72,451
Brinker International, Inc. 29,666 1,826,239
Buffalo Wild Wings, Inc. (I) 13,099 2,374,063
Caesars Acquisition Company, Class A (I) 10,479 71,257
Caesars Entertainment Corp. (I) (L) 11,814 124,401
Carnival Corp. 155,437 7,436,106
Carnival PLC 46,689 2,283,115
Carrols Restaurant Group, Inc. (I) 9,036 74,908
Chipotle Mexican Grill, Inc. (I) 10,705 6,964,031
Churchill Downs, Inc. 3,006 345,600
Chuy’s Holdings, Inc. (I) 3,750 84,488
ClubCorp Holdings, Inc. 5,137 99,452
Compass Group PLC 421,429 7,315,690
Cracker Barrel Old Country Store, Inc. 4,220 642,031
Crown Resorts, Ltd. 92,571 939,591
Darden Restaurants, Inc. 42,851 2,971,288
Dave & Buster’s Entertainment, Inc. (I) 1,500 45,690
Del Frisco’s Restaurant Group, Inc. (I) 5,479 110,402
Denny’s Corp. (I) 19,549 222,859
Diamond Resorts International, Inc. (I) 7,824 261,556
DineEquity, Inc. 3,713 397,328
Domino’s Pizza, Inc. 26,146 2,628,980
El Pollo Loco Holdings, Inc. (I) (L) 1,830 46,866
Fiesta Restaurant Group, Inc. (I) 6,001 366,061
Flight Centre Travel Group, Ltd. (L) 13,643 410,623
Galaxy Entertainment Group, Ltd. 588,153 2,670,415
Genting Singapore PLC 1,553,821 1,038,933
InterContinental Hotels Group PLC 59,152 2,307,143
International Game Technology 116,279 2,024,417
International Speedway Corp., Class A 19,411 632,993
Interval Leisure Group, Inc. 8,933 234,134
Intrawest Resorts Holdings, Inc. (I) 3,702 32,281
Isle of Capri Casinos, Inc. (I) 5,163 72,540
Jack in the Box, Inc. 8,877 851,482
Jamba, Inc. (I) (L) 4,141 60,914
Krispy Kreme Doughnuts, Inc. (I) 14,646 292,774
La Quinta Holdings, Inc. (I) 9,838 232,964
Life Time Fitness, Inc. (I) 25,937 1,840,490
Marriott International, Inc., Class A 71,572 5,748,663
Marriott Vacations Worldwide Corp. 5,870 475,764
McDonald’s Corp. 331,632 32,314,222
McDonald’s Holdings
       Company Japan, Ltd. (L) 16,061 355,936
Merlin Entertainments PLC (S) 124,991 818,302
MGM China Holdings, Ltd. 243,372 457,242
Monarch Casino & Resort, Inc. (I) 2,387 45,687
Morgans Hotel Group Company (I) 7,781 60,303
Nathan’s Famous, Inc. 837 45,324
Noodles & Company (I) (L) 2,610 45,518
Oriental Land Company, Ltd. 50,792 3,845,873
Panera Bread Company, Class A (I) 11,973 1,915,620
Papa John’s International, Inc. 6,818 421,421
Penn National Gaming, Inc. (I) 17,595 275,538
Pinnacle Entertainment, Inc. (I) 13,304 480,141
Popeyes Louisiana Kitchen, Inc. (I) 5,247 313,876
Potbelly Corp. (I) 3,581 49,060
Red Robin Gourmet Burgers, Inc. (I) 3,190 277,530
Royal Caribbean Cruises, Ltd. 56,845 4,652,763
Ruby Tuesday, Inc. (I) 14,533 87,343
Ruth’s Hospitality Group, Inc. 8,370 132,916
Sands China, Ltd. 609,482 2,520,350
Scientific Games Corp., Class A (I) (L) 11,648 121,955
Shangri-La Asia, Ltd. 279,964 384,489
SJM Holdings, Ltd. 493,884 645,049
Sodexo 23,954 2,336,314
Sonic Corp. 12,172 385,852
Speedway Motorsports, Inc. 2,865 65,179
Starbucks Corp. 258,720 24,500,784
Starwood Hotels & Resorts Worldwide, Inc. 59,261 4,948,294
Tabcorp Holdings, Ltd. 210,650 758,971

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (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)
Tatts Group, Ltd. 364,382 $ 1,102,393
Texas Roadhouse, Inc. 15,496 564,519
The Cheesecake Factory, Inc.   32,958 1,625,818
The Habit Restaurants, Inc., Class A (I) (L) 1,476 47,439
The Marcus Corp. 4,187 89,141
The Wendy’s Company 129,590   1,412,531
TUI AG 114,081 2,001,446
Vail Resorts, Inc. 8,017   829,118
Whitbread PLC 45,690 3,547,823
William Hill PLC 221,511 1,216,375
Wyndham Worldwide Corp. 41,628 3,766,085
Wynn Macau, Ltd. 395,270 854,227
Wynn Resorts, Ltd. 27,956 3,519,101
Yum! Brands, Inc. 149,452 11,764,861
Zoe’s Kitchen, Inc. (I) 1,394 46,406
176,140,591
Household durables - 0.7%
Beazer Homes USA, Inc. (I) 6,145 108,889
Casio Computer Company, Ltd. (L) 49,848 944,202
Cavco Industries, Inc. (I) 2,014 151,171
CSS Industries, Inc. 2,238 67,476
D.R. Horton, Inc. 114,707 3,266,855
Electrolux AB, Series B (L) 61,123 1,746,187
Ethan Allen Interiors, Inc. 5,738 158,598
Flexsteel Industries, Inc. 1,325 41,459
Garmin, Ltd. (L) 41,237 1,959,582
Harman International Industries, Inc. 23,689 3,165,561
Helen of Troy, Ltd. (I) 6,328 515,669
Hovnanian Enterprises, Inc., Class A (I) (L) 26,534 94,461
Husqvarna AB, B Shares 104,168 754,549
Iida Group Holdings Company, Ltd. 40,400 502,597
Installed Building Products, Inc. (I) 2,030 44,173
iRobot Corp. (I) 6,640 216,663
Jarden Corp. (I) 84,324 4,460,740
KB Home 61,496 960,568
La-Z-Boy, Inc. 11,710 329,168
Leggett & Platt, Inc. 47,975 2,211,168
Lennar Corp., Class A 61,582 3,190,563
LGI Homes, Inc. (I) (L) 3,487 58,093
Libbey, Inc. 4,818 192,286
Lifetime Brands, Inc. 2,639 40,324
M/I Homes, Inc. (I) 5,527 131,764
MDC Holdings, Inc. 27,038 770,583
Meritage Homes Corp. (I) 8,687 422,536
Mohawk Industries, Inc. (I) 21,411 3,977,093
NACCO Industries, Inc., Class A 1,137 60,250
Newell Rubbermaid, Inc. 93,585 3,656,366
Nikon Corp. (L) 86,546 1,160,454
NVR, Inc. (I) 1,808 2,402,217
Panasonic Corp. 557,509 7,321,229
Persimmon PLC (I) 77,534 1,910,704
PulteGroup, Inc. 114,307 2,541,045
Rinnai Corp. 9,378 695,012
Sekisui Chemical Company, Ltd. 108,163 1,403,413
Sekisui House, Ltd. 139,478 2,025,224
Sharp Corp. (I) (L) 388,898 761,733
Skullcandy, Inc. (I) 4,557 51,494
Sony Corp. (I) 290,500 7,769,017
Standard Pacific Corp. (I) 32,116 289,044
Techtronic Industries Company 348,742 1,175,747
Tempur Sealy International, Inc. (I) 28,634 1,653,327
The Dixie Group, Inc. (I) 3,679 33,295
The Ryland Group, Inc. 10,431 508,407
Toll Brothers, Inc. (I) 75,116 2,955,063
TRI Pointe Homes, Inc. (I) 32,804 506,166
Tupperware Brands Corp. 23,381 1,613,757
Universal Electronics, Inc. (I) 3,587 202,450
WCI Communities, Inc. (I) 2,583 61,863
Whirlpool Corp. 26,954 5,446,325
William Lyon Homes, Class A (I) 3,956 102,144
76,788,724
Internet and catalog retail - 0.8%
1-800-Flowers.com, Inc., Class A (I) 5,701 67,443
Amazon.com, Inc. (I) 131,396 48,892,452
Blue Nile, Inc. (I) 2,809 89,439
EVINE Live, Inc. (I) 10,193 68,395
Expedia, Inc. 34,025 3,202,773
FTD Companies, Inc. (I) 4,278 128,083
HSN, Inc. 22,624 1,543,636
Lands’ End, Inc. (I) 3,724 133,617
Netflix, Inc. (I) 20,877 8,699,237
Nutrisystem, Inc. 6,626 132,387
Orbitz Worldwide, Inc. (I) 11,601 135,268
Overstock.com, Inc. (I) 2,674 64,764
PetMed Express, Inc. (L) 4,778 78,933
Rakuten, Inc. 200,105 3,523,475
Shutterfly, Inc. (I) 8,643 391,009
The Priceline Group, Inc. (I) 17,922 20,863,896
Travelport Worldwide, Ltd. (L) 6,804 113,627
TripAdvisor, Inc. (I) 38,477 3,200,132
Wayfair, Inc., Class A (I) (L) 2,931 94,144
91,422,710
Leisure products - 0.2%
Arctic Cat, Inc. 3,006 109,178
Bandai Namco Holdings, Inc. 45,093 877,691
Black Diamond, Inc. (I) 5,543 52,381
Brunswick Corp. 64,200 3,303,090
Callaway Golf Company 17,855 170,158
Escalade, Inc. 2,393 41,590
Hasbro, Inc. (L) 38,654 2,444,479
JAKKS Pacific, Inc. (I) (L) 4,538 31,040
Johnson Outdoors, Inc., Class A 1,303 43,142
LeapFrog Enterprises, Inc. (I) 15,753 34,342
Malibu Boats, Inc., Class A (I) 2,013 47,004
Mattel, Inc. 116,821 2,669,360
Nautilus, Inc. (I) 7,067 107,913
Polaris Industries, Inc. 28,676 4,046,184
Sankyo Company, Ltd. 12,251 435,113
Sega Sammy Holdings, Inc. 47,236 688,250
Shimano, Inc. 19,981 2,969,218
Smith & Wesson Holding Corp. (I) 12,289 156,439
Sturm Ruger & Company, Inc. (L) 4,357 216,238
Vista Outdoor, Inc. (I) 29,982 1,283,829
Yamaha Corp. 42,473 741,681
20,468,320
Media - 2.7%
AH Belo Corp., Class A 5,149 42,376
Altice SA (I) 22,026 2,382,098
AMC Entertainment Holdings, Inc., Class A 4,650 165,029
AMC Networks, Inc., Class A (I) 27,764 2,127,833
Axel Springer AG 10,223 603,380
Cablevision Systems Corp., Class A (L) 75,717 1,385,621
Carmike Cinemas, Inc. (I) 5,508 185,069
CBS Corp., Class B 157,882 9,572,386

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

Shares or
Principal
       Amount        Value
COMMON STOCKS (continued)
Media (continued)
Central European Media  
       Enterprises, Ltd., Class A (I) (L) 17,656 $ 46,965
Cinedigm Corp., Class A (I) 21,145 34,255
Cinemark Holdings, Inc. 48,942 2,205,816
Comcast Corp., Class A 876,804 49,513,122
Cumulus Media, Inc., Class A (I) 33,206   82,019
Daily Journal Corp. (I)   268 49,098
Dentsu, Inc. 54,965   2,351,323
DIRECTV (I) 173,488 14,763,829
Discovery Communications, Inc., Series A (I) 51,151 1,573,405
Discovery Communications, Inc., Series C (I) 93,395 2,752,818
DreamWorks Animation
       SKG, Inc., Class A (I) (L) 34,046 823,913
Entercom Communications Corp., Class A (I) 6,046 73,459
Entravision Communications Corp., Class A 13,424 84,974
Eros International PLC (I) 4,966 86,756
Eutelsat Communications 39,105 1,297,161
Gannett Company, Inc. 77,802 2,884,898
Global Eagle Entertainment, Inc. (I) 9,050 120,456
Gray Television, Inc. (I) 11,166 154,314
Hakuhodo DY Holdings, Inc. 57,373 609,949
Harte-Hanks, Inc. 11,354 88,561
ITV PLC 963,787 3,608,462
JCDecaux SA 17,297 582,459
John Wiley & Sons, Inc., Class A 21,803 1,333,035
Journal Communications, Inc., Class A (I) 10,175 150,794
Kabel Deutschland Holding AG (I) 5,622 729,780
Lagardere SCA 30,303 910,769
Lee Enterprises, Inc. (I) (L) 14,179 44,947
Live Nation Entertainment, Inc. (I) 68,189 1,720,408
Loral Space & Communications, Inc. (I) 2,986 204,362
Martha Stewart Living
       Omnimedia, Inc., Class A (I) 7,460 48,490
MDC Partners, Inc., Class A 9,601 272,188
Media General, Inc. (I) 17,966 296,259
Meredith Corp. 25,174 1,403,954
National CineMedia, Inc. 13,794 208,289
New Media Investment Group, Inc. 9,921 237,410
News Corp., Class A (I) 172,442 2,760,796
Nexstar Broadcasting Group, Inc., Class A 6,930 396,535
Numericable Group SA (I) 24,452 1,334,547
Omnicom Group, Inc. 85,147 6,639,763
Pearson PLC 206,602 4,446,831
ProSiebenSat.1 Media AG 54,889 2,684,780
Publicis Groupe SA 47,651 3,676,589
REA Group, Ltd. 13,378 490,048
Reading International, Inc., Class A (I) 4,133 55,589
Reed Elsevier NV 177,440 4,421,379
Reed Elsevier PLC 286,952 4,934,977
Rentrak Corp. (I) (L) 2,242 124,566
RTL Group SA 9,830 945,255
Scholastic Corp. 5,980 244,821
Scripps Networks Interactive, Inc., Class A 33,618 2,304,850
SES SA 76,228 2,702,297
SFX Entertainment, Inc. (I) (L) 10,495 42,925
Sinclair Broadcast Group, Inc., Class A (L) 15,523 487,577
Singapore Press Holdings, Ltd. 405,632 1,238,213
Sizmek, Inc. (I) 5,586 40,554
Sky PLC 260,039 3,825,690
Societe Television Francaise 1 3 53
Telenet Group Holding NV 13,221 727,491
The EW Scripps Company, Class A (I) 7,094 201,753
The Interpublic Group of Companies, Inc. 142,362 3,149,047
The McClatchy Company, Class A (I) 15,059 27,709
The New York Times Company, Class A 92,750 1,276,240
The Walt Disney Company 539,531 56,591,407
Thomson Reuters Corp. 29,396 1,192,302
Time Warner Cable, Inc. 96,938 14,529,067
Time Warner, Inc. 286,573 24,198,224
Time, Inc. 75,879 1,702,725
Toho Company, Ltd. 29,008 709,267
Twenty-First Century Fox, Inc., Class A 630,927 21,350,570
Viacom, Inc., Class B 126,002 8,605,937
Vivendi SA 306,249 7,603,486
Wolters Kluwer NV 75,604 2,468,823
World Wrestling
       Entertainment, Inc., Class A (L) 6,639 93,012
WPP PLC 332,247 7,545,530
303,583,714
Multiline retail - 0.6%
Big Lots, Inc. 25,123 1,206,658
Burlington Stores, Inc. (I) 6,370 378,505
Dollar General Corp. (I) 104,730 7,894,547
Dollar Tree, Inc. (I) 70,991 5,760,565
Don Quijote Company, Ltd. 14,907 1,211,763
Family Dollar Stores, Inc. 33,199 2,630,689
Fred’s, Inc., Class A 8,412 143,761
Harvey Norman Holding, Ltd. 140,133 473,653
Isetan Mitsukoshi Holdings, Ltd. 85,128 1,406,552
J Front Retailing Company, Ltd. 61,200 960,755
J.C. Penney Company, Inc. (I) (L) 143,305 1,205,195
Kohl’s Corp. 69,728 5,456,216
Macy’s, Inc. 117,551 7,630,235
Marks & Spencer Group PLC 414,743 3,280,146
Marui Group Company, Ltd. 58,841 666,771
Next PLC 38,622 4,016,628
Nordstrom, Inc. 48,557 3,900,098
Takashimaya Company, Ltd. 71,883 706,152
Target Corp. 219,803 18,039,232
Tuesday Morning Corp. (I) 9,814 158,005
67,126,126
Specialty retail - 2.1%
Aaron’s, Inc. 30,340 858,925
ABC-Mart, Inc. 6,464 378,049
Abercrombie & Fitch Company, Class A 32,588 718,240
Advance Auto Parts, Inc. 34,377 5,145,893
Aeropostale, Inc. (I) 18,495 64,178
America’s Car-Mart, Inc. (I) 1,792 97,216
American Eagle Outfitters, Inc. 125,827 2,149,125
ANN, Inc. (I) 31,979 1,312,098
Asbury Automotive Group, Inc. (I) 6,735 559,679
Ascena Retail Group, Inc. (I) 61,950 898,895
AutoNation, Inc. (I) 25,375 1,632,374
AutoZone, Inc. (I) 11,009 7,509,899
Barnes & Noble, Inc. (I) 9,163 217,621
Bed Bath & Beyond, Inc. (I) 64,071 4,919,051
Best Buy Company, Inc. 100,504 3,798,046
Big 5 Sporting Goods Corp. 4,248 56,371
Boot Barn Holdings, Inc. (I) 1,312 31,383
Brown Shoe Company, Inc. 9,708 318,422
Build-A-Bear Workshop, Inc. (I) 2,743 53,900
Cabela’s, Inc. (I) (L) 22,408 1,254,400
CarMax, Inc. (I) 72,486 5,002,259
Chico’s FAS, Inc. 72,456 1,281,747
Christopher & Banks Corp. (I) 8,671 48,211

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

Shares or
Principal
       Amount        Value
COMMON STOCKS (continued)
Specialty retail (continued)
Citi Trends, Inc. (I) 3,696 $ 99,792
Conn’s, Inc. (I) (L) 6,230 188,644
CST Brands, Inc. 36,255 1,589,057
Destination Maternity Corp. 3,622 54,547
Destination XL Group, Inc. (I) 9,918 48,995
Dick’s Sporting Goods, Inc. 46,111 2,627,866
Dixons Carphone PLC 248,779 1,521,491
Express, Inc. (I) 19,009 314,219
Fast Retailing Company, Ltd. 13,346 5,160,338
Five Below, Inc. (I) 12,184 433,385
Foot Locker, Inc. 66,781 4,207,203
Francesca’s Holdings Corp. (I) 9,582 170,560
GameStop Corp., Class A (L) 36,683 1,392,487
Genesco, Inc. (I) 5,380 383,217
Group 1 Automotive, Inc. 5,387 465,060
Guess?, Inc. 43,836 814,911
Haverty Furniture Companies, Inc. 4,617 114,871
Hennes & Mauritz AB, B Shares 240,157 9,730,613
Hibbett Sports, Inc. (I) (L) 5,830 286,020
Hikari Tsushin, Inc. 4,000 259,062
Inditex SA 275,563 8,847,134
Kingfisher PLC 595,184 3,358,070
Kirkland’s, Inc. (I) 3,383 80,346
L Brands, Inc. 84,849 8,000,412
Lithia Motors, Inc., Class A 5,055 502,518
Lowe’s Companies, Inc. 335,741 24,975,773
Lumber Liquidators Holdings, Inc. (I) (L) 6,189 190,497
MarineMax, Inc. (I) 5,617 148,907
Mattress Firm Holding Corp. (I) (L) 3,328 231,762
Monro Muffler Brake, Inc. 7,039 457,887
Murphy USA, Inc. (I) 20,212 1,462,742
Nitori Holdings Company, Ltd. 17,390 1,177,190
O’Reilly Automotive, Inc. (I) 35,084 7,586,564
Office Depot, Inc. (I) 349,970 3,219,724
Outerwall, Inc. (L) 4,234 279,952
Pacific Sunwear of California, Inc. (I) 11,401 31,467
Pier 1 Imports, Inc. 21,206 296,460
Rent-A-Center, Inc. 36,668 1,006,170
Restoration Hardware Holdings, Inc. (I) 6,948 689,172
Ross Stores, Inc. 71,429 7,525,759
Sanrio Company, Ltd. (L) 12,873 343,873
Select Comfort Corp. (I) 12,061 415,743
Shimamura Company, Ltd. 5,728 530,532
Shoe Carnival, Inc. 3,540 104,218
Signet Jewelers, Ltd. 37,684 5,230,162
Sonic Automotive, Inc., Class A 8,872 220,913
Sports Direct International PLC (I) 66,352 596,328
Stage Stores, Inc. 7,136 163,557
Staples, Inc. 221,121 3,600,955
Stein Mart, Inc. 6,318 78,659
Systemax, Inc. (I) 2,701 33,006
The Buckle, Inc. (L) 6,284 321,050
The Cato Corp., Class A 6,173 244,451
The Children’s Place Retail Stores, Inc. 4,945 317,420
The Container Store Group, Inc. (I) (L) 3,921 74,695
The Finish Line, Inc., Class A 10,896 267,170
The Gap, Inc. 91,534 3,966,168
The Home Depot, Inc. 454,743 51,663,352
The Men’s Wearhouse, Inc. 10,709 559,010
The Pep Boys - Manny, Moe & Jack (I) 12,118 116,575
The TJX Companies, Inc. 235,564 16,501,258
Tiffany & Company 38,792 3,414,084
Tile Shop Holdings, Inc. (I) 6,314 76,463
Tilly’s, Inc., Class A (I) 2,522 39,469
Tractor Supply Company 47,020 3,999,521
Urban Outfitters, Inc. (I) 34,790   1,588,164
USS Company, Ltd. 55,848 965,029
Vitamin Shoppe, Inc. (I) 6,877 283,264
West Marine, Inc. (I) 4,458   41,326
Williams-Sonoma, Inc.   40,253 3,208,567
Winmark Corp. 558 48,864
Yamada Denki Company, Ltd. (L) 215,868 888,930
Zumiez, Inc. (I) 4,654 187,324
  238,326,926
Textiles, apparel and luxury goods - 1.1%
adidas AG 52,754 4,165,628
Asics Corp. 40,572 1,104,059
Burberry Group PLC 112,666 2,893,317
Carter’s, Inc. 24,818 2,294,920
Christian Dior SA 13,681 2,575,008
Cie Financiere Richemont SA 131,861 10,595,148
Coach, Inc. 95,216 3,944,799
Columbia Sportswear Company 6,078 370,150
Crocs, Inc. (I) 18,539 218,946
Culp, Inc. 2,110 56,443
Deckers Outdoor Corp. (I) 16,247 1,183,919
Fossil Group, Inc. (I) 15,097 1,244,748
G-III Apparel Group, Ltd. (I) 4,266 480,565
Hanesbrands, Inc. 138,414 4,638,253
Hermes International SA 6,677 2,357,546
Hugo Boss AG 14,219 1,727,490
Iconix Brand Group, Inc. (I) 10,704 360,404
Kate Spade & Company (I) 59,887 1,999,627
Kering 19,080 3,724,774
Li & Fung, Ltd. 1,487,774 1,452,820
Luxottica Group SpA 42,529 2,693,603
LVMH Moet Hennessy Louis Vuitton SA 70,624 12,428,628
Michael Kors Holdings, Ltd. (I) 69,283 4,555,357
Movado Group, Inc. 4,230 120,640
NIKE, Inc., Class B 241,490 24,228,692
Oxford Industries, Inc. 3,271 246,797
Pandora A/S 29,220 2,660,337
Perry Ellis International, Inc. (I) 2,830 65,543
PVH Corp. 28,223 3,007,443
Quiksilver, Inc. (I) (L) 32,186 59,544
Ralph Lauren Corp. 20,800 2,735,200
Sequential Brands Group, Inc. (I) (L) 3,817 40,842
Skechers U.S.A., Inc., Class A (I) 8,630 620,583
Steven Madden, Ltd. (I) 12,959 492,442
The Swatch Group AG, Bearer Shares 7,755 3,279,638
The Swatch Group AG, Registered Shares 12,590 1,055,207
Tumi Holdings, Inc. (I) 11,317 276,814
Under Armour, Inc., Class A (I) 57,609 4,651,927
Unifi, Inc. (I) 3,267 117,906
Vera Bradley, Inc. (I) 4,847 78,667
VF Corp. 118,184 8,900,437
Vince Holding Corp. (I) 2,668 49,491
Wolverine World Wide, Inc. 22,539 753,930
Yue Yuen Industrial Holdings, Ltd. 190,987 675,796
121,184,028
1,373,897,243
Consumer staples - 9.1%
Beverages - 2.0%
Anheuser-Busch InBev NV 203,211 24,825,349

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

Shares or
Principal
       Amount        Value
COMMON STOCKS (continued)
Beverages (continued)
Asahi Group Holdings, Ltd. 97,303 $ 3,085,326
Brown-Forman Corp., Class B 53,786 4,859,565
Carlsberg A/S, Class B 26,781 2,208,262
Coca-Cola Amatil, Ltd. 145,562 1,191,767
Coca-Cola Bottling Company Consolidated 1,047 118,374
Coca-Cola Enterprises, Inc. 74,919   3,311,420
Coca-Cola HBC AG (I) 50,903 915,665
Constellation Brands, Inc., Class A (I) 58,089 6,750,523
Craft Brew Alliance, Inc. (I) 2,640 36,010
Diageo PLC   635,393 17,558,659
Dr. Pepper Snapple Group, Inc. 66,621   5,228,416
Heineken Holding NV 25,602 1,761,787
Heineken NV 58,127 4,436,641
Kirin Holdings Company, Ltd. 205,792 2,699,221
Molson Coors Brewing Company, Class B 55,097 4,101,972
Monster Beverage Corp. (I) 50,242 6,953,242
National Beverage Corp. (I) 2,500 61,025
PepsiCo, Inc. 511,496 48,909,248
Pernod Ricard SA 53,571 6,334,328
Remy Cointreau SA 5,988 441,014
SABMiller PLC 244,528 12,808,807
Suntory Beverage & Food, Ltd. 35,259 1,509,758
The Boston Beer Company, Inc., Class A (I) 6,101 1,631,407
The Coca-Cola Company 1,355,936 54,983,205
Treasury Wine Estates, Ltd. 165,007 641,120
217,362,111
Food and staples retailing - 2.0%
Aeon Company, Ltd. 166,178 1,822,875
Carrefour SA 157,712 5,268,674
Casey’s General Stores, Inc. 8,527 768,283
Casino Guichard Perrachon SA 14,366 1,272,053
Colruyt SA 17,849 776,838
Costco Wholesale Corp. 151,818 22,999,668
CVS Health Corp. 388,279 40,074,276
Delhaize Group SA 26,033 2,338,807
Diplomat Pharmacy, Inc. (I) (L) 3,475 120,166
Distribuidora Internacional
       de Alimentacion SA 157,130 1,226,237
Fairway Group Holdings Corp. (I) 4,770 32,293
FamilyMart Company, Ltd. 14,392 603,002
ICA Gruppen AB (L) 19,468 652,553
Ingles Markets, Inc., Class A 2,663 131,765
J Sainsbury PLC 315,200 1,209,553
Jeronimo Martins SGPS SA 63,946 804,681
Koninklijke Ahold NV 225,870 4,450,963
Lawson, Inc. 16,589 1,149,948
Metro AG 41,178 1,395,516
Natural Grocers by Vitamin Cottage, Inc. (I) 2,070 57,153
PriceSmart, Inc. 4,234 359,805
Roundy’s, Inc. (I) 9,390 45,917
Seven & I Holdings Company, Ltd. 190,229 7,994,042
Smart & Final Stores, Inc. (I) 3,128 55,053
SpartanNash Company 8,433 266,145
SUPERVALU, Inc. (I) 142,208 1,653,879
Sysco Corp. 204,451 7,713,936
Tesco PLC 2,052,748 7,327,393
The Andersons, Inc. 6,346 262,534
The Chefs’ Warehouse, Inc. (I) 4,204 94,296
The Fresh Market, Inc. (I) (L) 9,534 387,462
The Kroger Company 169,555 12,998,086
United Natural Foods, Inc. (I) 34,510 2,658,650
Village Super Market, Inc., Class A 1,660 52,190
Wal-Mart Stores, Inc. 544,956 44,822,631
Walgreens Boots Alliance, Inc. 300,903 25,480,466
Weis Markets, Inc. 2,452 122,012
Wesfarmers, Ltd. 284,225 9,491,384
Whole Foods Market, Inc. 124,494 6,483,648
WM Morrison Supermarkets PLC 533,998 1,526,133
Woolworths, Ltd. 318,520 7,132,934
224,083,900
Food products - 2.3%
Ajinomoto Company, Inc. 143,296 3,143,690
Alico, Inc. 728 37,317
Archer-Daniels-Midland Company 218,892 10,375,481
Aryzta AG (I) 22,156 1,358,223
Associated British Foods PLC 89,899 3,751,765
B&G Foods, Inc. 12,030 354,043
Barry Callebaut AG (I) 557 543,824
Boulder Brands, Inc. (I) 13,963 133,067
Cal-Maine Foods, Inc. (L) 6,885 268,928
Calavo Growers, Inc. 3,238 166,498
Calbee, Inc. 18,700 811,806
Campbell Soup Company 61,360 2,856,308
Chocoladefabriken Lindt & Sprungli AG 239 1,279,276
Chocoladefabriken Lindt & Sprungli AG 26 1,644,778
ConAgra Foods, Inc. 147,034 5,371,152
Danone SA 146,431 9,870,600
Darling Ingredients, Inc. (I) 36,728 514,559
Dean Foods Company 65,121 1,076,450
Diamond Foods, Inc. (I) 4,949 161,189
Farmer Brothers Company (I) 1,691 41,852
Flowers Foods, Inc. 86,610 1,969,511
Fresh Del Monte Produce, Inc. 7,852 305,521
Freshpet, Inc. (I) (L) 2,905 56,444
General Mills, Inc. 208,361 11,793,233
Golden Agri-Resources, Ltd. 1,792,561 554,723
Hormel Foods Corp. 46,503 2,643,696
Ingredion, Inc. 33,608 2,615,375
Inventure Foods, Inc. (I) 3,898 43,619
J&J Snack Foods Corp. 3,324 354,671
John B. Sanfilippo & Son, Inc. 1,904 82,062
Kellogg Company 87,383 5,762,909
Kerry Group PLC 1,204 80,707
Kerry Group PLC 38,612 2,595,523
Keurig Green Mountain, Inc. 41,849 4,675,789
Kikkoman Corp. 36,746 1,165,189
Kraft Foods Group, Inc. 202,906 17,676,156
Lancaster Colony Corp. 13,206 1,256,815
Landec Corp. (I) 6,238 87,020
Limoneira Company (L) 2,852 62,174
McCormick & Company, Inc. 44,297 3,415,742
Mead Johnson Nutrition Company 69,820 7,019,005
MEIJI Holdings Company, Ltd. 15,478 1,885,372
Mondelez International, Inc., Class A 569,164 20,541,129
Nestle SA 814,837 61,359,159
NH Foods, Ltd. 43,882 1,011,200
Nisshin Seifun Group, Inc. 53,900 634,412
Nissin Food Products Company, Ltd. 14,875 731,047
Omega Protein Corp. (I) 4,865 66,602
Orkla ASA 207,155 1,563,466
Post Holdings, Inc. (I) 36,310 1,700,760
Sanderson Farms, Inc. (L) 5,079 404,542
Seaboard Corp. (I) 62 256,184
Seneca Foods Corp., Class A (I) 2,046 60,991
Snyder’s-Lance, Inc. 10,699 341,940
Tate & Lyle PLC 118,327 1,046,860

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

Shares or
Principal
       Amount        Value
COMMON STOCKS (continued)
Food products (continued)
The Hain Celestial Group, Inc. (I) 47,807 $ 3,062,038
The Hershey Company 51,062 5,152,666
The J.M. Smucker Company 35,137 4,066,405
The WhiteWave Foods Company (I)   81,984 3,635,171
Tootsie Roll Industries, Inc. (L) 13,940 472,839
Toyo Suisan Kaisha, Ltd. 22,550 793,362
TreeHouse Foods, Inc. (I) 29,442 2,503,159
Tyson Foods, Inc., Class A 100,853 3,862,670
Unilever NV 411,310   17,187,636
Unilever PLC 324,205   13,526,943
WH Group, Ltd. (I) (S) 917,500 521,151
Wilmar International, Ltd. 487,403 1,157,086
Yakult Honsha Company, Ltd. 22,303 1,553,683
Yamazaki Baking Company, Ltd. 28,390 511,541
  257,586,704
Household products - 1.3%
Central Garden & Pet Company, Class A (I) 9,969 105,871
Church & Dwight Company, Inc. 61,367 5,241,969
Colgate-Palmolive Company 294,192 20,399,273
Energizer Holdings, Inc. 29,199 4,030,922
Henkel AG & Company, KGaA 29,711 3,065,963
HRG Group, Inc. (I) 18,757 234,087
Kimberly-Clark Corp. 126,106 13,507,214
Orchids Paper Products Company 2,084 56,185
Reckitt Benckiser Group PLC 163,331 14,031,042
Svenska Cellulosa AB SCA, B Shares 147,812 3,396,549
The Clorox Company 45,385 5,010,050
The Procter & Gamble Company 931,808 76,352,348
Unicharm Corp. 94,600 2,476,626
WD-40 Company 3,360 297,494
  148,205,593
Personal products - 0.3%
Avon Products, Inc. 204,338 1,632,661
Beiersdorf AG (L) 25,623 2,221,759
Elizabeth Arden, Inc. (I) (L) 5,952 92,851
Inter Parfums, Inc. 3,840 125,261
Kao Corp. 130,775 6,530,119
L’Oreal SA 63,423 11,681,927
Medifast, Inc. (I) 2,779 83,287
Nature’s Sunshine Products, Inc. 2,804 36,788
Nutraceutical International Corp. (I) 2,176 42,867
Revlon, Inc., Class A (I) 2,661 109,633
Shiseido Company, Ltd. 91,460 1,622,505
Synutra International, Inc. (I) 4,450 28,480
The Estee Lauder Companies, Inc., Class A 76,973 6,401,075
USANA Health Sciences, Inc. (I) 1,255 139,456
30,748,669
Tobacco - 1.2%
Altria Group, Inc. 679,527 33,989,941
British American Tobacco PLC 470,944 24,387,369
Imperial Tobacco Group PLC 241,987 10,615,061
Japan Tobacco, Inc. 277,789 8,782,261
Lorillard, Inc. 124,263 8,120,587
Philip Morris International, Inc. 533,757 40,207,915
Reynolds American, Inc. 106,349 7,328,510
Swedish Match AB 50,172 1,475,190
Universal Corp. 5,274 248,722
Vector Group, Ltd. (L) 17,278 379,598
135,535,154
1,013,522,131
Energy - 6.5%
Energy equipment and services - 1.0%
Amec Foster Wheeler PLC 96,491 1,290,721
Atwood Oceanics, Inc. 28,247 794,023
Baker Hughes, Inc. 149,942 9,533,312
Basic Energy Services, Inc. (I) 7,762 53,791
Bristow Group, Inc. 7,852 427,541
C&J Energy Services, Ltd. (I) 10,522 117,110
Cameron International Corp. (I) 66,857 3,016,588
CARBO Ceramics, Inc. (L) 4,530 138,210
CHC Group, Ltd. (I) (L) 8,258 10,983
Diamond Offshore Drilling, Inc. (L) 23,611 632,539
Dresser-Rand Group, Inc. (I) 36,033 2,895,252
Dril-Quip, Inc. (I) 18,223 1,246,271
Ensco PLC, Class A 80,291 1,691,731
Era Group, Inc. (I) 4,878 101,658
Exterran Holdings, Inc. 13,024 437,216
FMC Technologies, Inc. (I) 79,878 2,956,285
FMSA Holdings, Inc. (I) (L) 5,745 41,594
Forum Energy Technologies, Inc. (I) 13,351 261,680
Geospace Technologies Corp. (I) 3,107 51,297
Gulf Island Fabrication, Inc. 3,525 52,382
Gulfmark Offshore, Inc., Class A 5,912 77,092
Halliburton Company 293,195 12,865,397
Helix Energy Solutions Group, Inc. (I) 69,827 1,044,612
Helmerich & Payne, Inc. 37,170 2,530,162
Hercules Offshore, Inc. (I) (L) 35,308 14,801
Hornbeck Offshore Services, Inc. (I) 8,197 154,186
ION Geophysical Corp. (I) 30,693 66,604
Key Energy Services, Inc. (I) 31,341 57,041
Matrix Service Company (I) 6,074 106,659
McDermott International, Inc. (I) (L) 53,565 205,690
Nabors Industries, Ltd. 136,023 1,856,714
National Oilwell Varco, Inc. 141,484 7,072,785
Natural Gas Services Group, Inc. (I) 3,163 60,793
Newpark Resources, Inc. (I) 18,908 172,252
Noble Corp. PLC 83,685 1,195,022
Nordic American Offshore, Ltd. (L) 4,600 42,136
North Atlantic Drilling, Ltd. (L) 17,035 19,761
Nuverra Environmental Solutions, Inc. (I) (L) 3,618 12,880
Oceaneering International, Inc. 46,825 2,525,272
Oil States International, Inc. (I) 24,139 960,008
Parker Drilling Company (I) 28,421 99,189
Patterson-UTI Energy, Inc. 68,829 1,292,264
Petrofac, Ltd. 65,880 927,468
PHI, Inc. (I) 2,990 89,939
Pioneer Energy Services Corp. (I) 14,741 79,896
RigNet, Inc. (I) 2,738 78,279
Rowan Companies PLC, Class A 58,549 1,036,903
Saipem SpA (I) (L) 67,270 684,269
Schlumberger, Ltd. 440,068 36,719,274
SEACOR Holdings, Inc. (I) 4,117 286,831
Seadrill, Ltd. (L) 98,833 925,432
Subsea 7 SA 71,414 613,247
Superior Energy Services, Inc. 71,521 1,597,779
Technip SA 25,984 1,571,715
Tenaris SA 119,990 1,682,025
Tesco Corp. 8,085 91,926
TETRA Technologies, Inc. (I) 17,880 110,498
Tidewater, Inc. (L) 22,037 421,788
Transocean, Ltd. (L) 91,944 1,324,627
Transocean, Ltd. (L) 117,129 1,718,282
U.S. Silica Holdings, Inc. (L) 12,014 427,819
Unit Corp. (I) 21,779 609,376

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

Shares or
Principal
       Amount        Value
COMMON STOCKS (continued)
Energy equipment and services (continued)
Vantage Drilling Company (I) 50,741 $ 16,618
Willbros Group, Inc. (I) 9,986 33,054
WorleyParsons, Ltd. 52,536   380,213
109,608,762
Oil, gas and consumable fuels - 5.5%
Abraxas Petroleum Corp. (I) 21,577   70,125
Adams Resources & Energy, Inc. 498 33,471
Alon USA Energy, Inc. 5,836 96,703
Alpha Natural Resources, Inc. (I) (L) 51,232 51,227
Anadarko Petroleum Corp. 174,846 14,478,997
Apache Corp.   130,074 7,847,364
Approach Resources, Inc. (I) (L) 9,102 59,982
Arch Coal, Inc. (I) (L) 49,268 49,263
Ardmore Shipping Corp. 4,380 44,107
BG Group PLC 862,296 10,583,595
Bill Barrett Corp. (I) (L) 11,557 95,923
Bonanza Creek Energy, Inc. (I) 8,911 219,745
BP PLC 4,608,677 29,874,181
Cabot Oil & Gas Corp. 142,627 4,211,775
California Resources Corp. 145,002 1,103,465
Callon Petroleum Company (I) 12,344 92,210
Caltex Australia, Ltd. 34,275 909,637
Carrizo Oil & Gas, Inc. (I) 10,197 506,281
Chesapeake Energy Corp. (L) 177,388 2,511,814
Chevron Corp. 648,802 68,111,234
Cimarex Energy Company 30,249 3,481,357
Clayton Williams Energy, Inc. (I) (L) 1,366 69,161
Clean Energy Fuels Corp. (I) (L) 16,441 87,713
Cloud Peak Energy, Inc. (I) 14,137 82,277
Comstock Resources, Inc. (L) 10,828 38,656
ConocoPhillips 424,994 26,460,126
CONSOL Energy, Inc. 79,479 2,216,669
Contango Oil & Gas Company (I) 4,053 89,166
Delek Group, Ltd. 1,193 307,023
Delek US Holdings, Inc. 13,217 525,376
Denbury Resources, Inc. 166,083 1,210,745
Devon Energy Corp. 133,374 8,043,786
DHT Holdings, Inc. 20,910 145,952
Diamondback Energy, Inc. (I) 9,861 757,719
Eclipse Resources Corp. (I) (L) 6,950 39,059
Energen Corp. 34,307 2,264,262
Energy XXI, Ltd. (L) 22,102 80,451
Eni SpA 642,583 11,121,920
EOG Resources, Inc. 189,266 17,353,800
EQT Corp. 52,431 4,344,957
Evolution Petroleum Corp. 5,881 34,992
EXCO Resources, Inc. (L) 37,029 67,763
Exxon Mobil Corp. 1,447,425 123,031,125
Frontline, Ltd. (I) 15,867 35,542
Galp Energia SGPS SA 97,931 1,059,056
GasLog, Ltd. 9,480 184,102
Gastar Exploration, Inc. (I) 15,973 41,849
Goodrich Petroleum Corp. (I) (L) 8,656 30,729
Green Plains, Inc. 8,387 239,449
Gulfport Energy Corp. (I) 40,272 1,848,888
Halcon Resources Corp. (I) (L) 61,138 94,153
Harvest Natural Resources, Inc. (I) 11,229 5,019
Hess Corp. 83,875 5,692,596
HollyFrontier Corp. 92,161 3,711,323
Idemitsu Kosan Company, Ltd. 21,200 369,222
Inpex Corp. 222,757 2,454,512
Jones Energy, Inc., Class A (I) (L) 3,254 29,221
JX Holdings, Inc. 570,211 2,193,974
Kinder Morgan, Inc. 588,003 24,731,406
Koninklijke Vopak NV 17,836 984,314
Lundin Petroleum AB (I) 53,729 735,161
Magnum Hunter Resources Corp. (I) (L) 45,861 122,449
Marathon Oil Corp. 233,064 6,085,301
Marathon Petroleum Corp. 94,229 9,648,107
Matador Resources Company (I) 16,452 360,628
Midstates Petroleum Company, Inc. (I) (L) 9,685 8,232
Murphy Oil Corp. 56,944 2,653,590
Navios Maritime Acquisition Corp. (L) 19,494 69,009
Neste Oil OYJ 31,667 830,940
Newfield Exploration Company (I) 55,524 1,948,337
Noble Energy, Inc. 133,503 6,528,297
Nordic American Tankers, Ltd. (L) 20,011 238,331
Northern Oil and Gas, Inc. (I) (L) 13,965 107,670
Occidental Petroleum Corp. 265,918 19,412,014
OMV AG 37,382 1,025,445
ONEOK, Inc. 71,563 3,452,199
Origin Energy, Ltd. 280,448 2,403,930
Pacific Ethanol, Inc. (I) 5,386 58,115
Panhandle Oil and Gas, Inc., Class A 3,368 66,653
Parsley Energy, Inc., Class A (I) 12,026 192,175
PDC Energy, Inc. (I) 8,011 432,914
Peabody Energy Corp. (L) 129,166 635,497
Penn Virginia Corp. (I) (L) 14,647 94,913
PetroQuest Energy, Inc. (I) 14,133 32,506
Phillips 66 187,549 14,741,351
Pioneer Natural Resources Company 51,412 8,406,376
QEP Resources, Inc. 55,791 1,163,242
Range Resources Corp. 57,249 2,979,238
Renewable Energy Group, Inc. (I) 7,853 72,405
Repsol SA 262,415 4,884,946
REX American Resources Corp. (I) 1,438 87,445
Rex Energy Corp. (I) (L) 11,845 44,063
Ring Energy, Inc. (I) (L) 4,854 51,549
Rosetta Resources, Inc. (I) 48,511 825,657
Royal Dutch Shell PLC, A Shares 987,869 29,376,336
Royal Dutch Shell PLC, B Shares 616,632 19,208,270
RSP Permian, Inc. (I) 5,300 133,507
Sanchez Energy Corp. (I) (L) 11,730 152,607
Santos, Ltd. 248,249 1,342,876
Scorpio Tankers, Inc. 36,669 345,422
SemGroup Corp., Class A 9,491 771,998
Ship Finance International, Ltd. (L) 13,163 194,812
Showa Shell Sekiyu KK 46,294 422,830
SM Energy Company 31,708 1,638,669
Solazyme, Inc. (I) (L) 18,116 51,812
Southwestern Energy Company (I) (L) 132,706 3,077,452
Spectra Energy Corp. 231,597 8,376,863
Statoil ASA 281,989 4,985,958
Stone Energy Corp. (I) 12,794 187,816
Synergy Resources Corp. (I) 18,205 215,729
Teekay Tankers, Ltd., Class A 18,359 105,381
Tesoro Corp. 43,110 3,935,512
The Williams Companies, Inc. 232,296 11,751,855
TonenGeneral Sekiyu KK 71,557 617,114
Total SA 541,015 26,892,234
Transatlantic Petroleum, Ltd. (I) 6,345 33,882
Triangle Petroleum Corp. (I) (L) 15,448 77,703
Tullow Oil PLC 231,204 969,254
VAALCO Energy, Inc. (I) 12,348 30,253
Valero Energy Corp. 177,676 11,303,747
W&T Offshore, Inc. (L) 8,700 44,457

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (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)  
Warren Resources, Inc. (I) 18,253 $ 16,247
Western Refining, Inc. 45,041   2,224,575
Westmoreland Coal Company (I) 3,423   91,599
Woodside Petroleum, Ltd. 186,699 4,891,313
World Fuel Services Corp. 33,883 1,947,595
WPX Energy, Inc. (I) 95,823 1,047,345
613,372,217
722,980,979
Financials - 19.3%
Banks - 7.8%
1st Source Corp. 3,453 110,945
Ameris Bancorp   5,768 152,218
Aozora Bank, Ltd. 293,271 1,039,516
Arrow Financial Corp. 3,502 95,079
Associated Banc-Corp. 69,887 1,299,898
Australia & New Zealand Banking Group, Ltd. 696,417 19,374,445
Banc of California, Inc. 8,533 105,041
Banca Monte dei Paschi di Siena SpA (I) (L) 1,105,279 733,561
BancFirst Corp. 1,567 95,556
Banco Bilbao Vizcaya Argentaria SA 1,576,524 15,922,130
Banco Comercial Portugues SA (I) (L) 8,951,251 920,317
Banco de Sabadell SA (L) 866,721 2,117,709
Banco Espirito Santo SA (I) 625,609 4,317
Banco Latinoamericano de
       Comercio Exterior SA 6,628 217,332
Banco Popolare SC (I) 92,035 1,432,722
Banco Popular Espanol SA 453,430 2,217,794
Banco Santander SA 3,558,556 26,676,264
BancorpSouth, Inc. 61,643 1,431,350
Bank Hapoalim, Ltd. 266,747 1,282,615
Bank Leumi Le-Israel BM (I) 335,107 1,242,665
Bank of America Corp. 3,629,768 55,862,130
Bank of East Asia, Ltd. 324,890 1,294,194
Bank of Hawaii Corp. 20,524 1,256,274
Bank of Ireland (I) 6,988,264 2,666,360
Bank of Kentucky Financial Corp. 1,516 74,360
Bank of Marin Bancorp 1,526 77,673
Bank of Queensland, Ltd. 92,093 965,022
Bank of the Ozarks, Inc. 18,858 696,426
Bankia SA (I) 1,171,011 1,631,946
Bankinter SA 168,701 1,286,235
Banner Corp. 4,449 204,209
Barclays PLC 4,153,759 14,993,095
BB&T Corp. 248,670 9,695,643
BBCN Bancorp, Inc. 18,037 260,995
Bendigo and Adelaide Bank, Ltd. 113,200 1,078,666
Blue Hills Bancorp, Inc. (I) 7,073 93,505
BNC Bancorp 4,817 87,188
BNP Paribas SA 267,393 16,269,797
BOC Hong Kong Holdings, Ltd. 931,378 3,321,724
Boston Private Financial Holdings, Inc. 18,106 219,988
Bridge Bancorp, Inc. 3,305 85,368
Bridge Capital Holdings (I) 2,614 68,252
Bryn Mawr Bank Corp. 3,531 107,378
CaixaBank SA 579,181 2,746,739
Camden National Corp. 2,064 82,230
Capital Bank Financial Corp., Class A (I) 5,320 146,885
Cardinal Financial Corp. 7,515 150,150
Cascade Bancorp (I) 9,050 43,440
Cathay General Bancorp 52,766 1,501,193
CenterState Banks, Inc. 8,746 104,165
Central Pacific Financial Corp. 3,856 88,572
Chemical Financial Corp. 7,331 229,900
Citigroup, Inc. 1,046,743 53,928,199
Citizens & Northern Corp. 3,723 75,130
City Holding Company 3,658 172,036
City National Corp. 22,608 2,013,921
CNB Financial Corp. 4,064 69,169
CoBiz Financial, Inc. 8,608 106,051
Columbia Banking System, Inc. 13,003 376,697
Comerica, Inc. 61,555 2,777,977
Commerce Bancshares, Inc. 38,983 1,649,761
Commerzbank AG (I) 243,744 3,349,334
Commonwealth Bank of Australia 409,890 29,073,744
Community Bank Systems, Inc. 9,223 326,402
Community Trust Bancorp, Inc. 3,812 126,406
ConnectOne Bancorp, Inc. 5,471 106,466
Credit Agricole SA 260,248 3,824,334
CU Bancorp (I) 2,731 62,130
Cullen/Frost Bankers, Inc. 25,823 1,783,853
Customers Bancorp, Inc. (I) 5,937 144,625
CVB Financial Corp. 23,882 380,679
Danske Bank A/S 165,324 4,358,460
DBS Group Holdings, Ltd. 437,683 6,489,899
DNB ASA 246,679 3,959,124
Eagle Bancorp, Inc. (I) 5,861 225,062
East West Bancorp, Inc. 67,471 2,729,877
Enterprise Financial Services Corp. 4,897 101,172
Erste Group Bank AG 70,991 1,745,260
FCB Financial Holdings, Inc., Class A (I) 2,037 55,753
Fidelity Southern Corp. 4,477 75,572
Fifth Third Bancorp 281,128 5,299,263
Financial Institutions, Inc. 3,812 87,409
First BanCorp (I) 23,606 146,357
First Bancorp North Carolina 5,064 88,924
First Bancorp, Inc. 3,045 53,135
First Busey Corp. 17,699 118,406
First Citizens BancShares, Inc., Class A 2,104 546,388
First Commonwealth Financial Corp. 21,514 193,626
First Community Bancshares, Inc. 4,223 74,029
First Connecticut Bancorp, Inc. 4,932 75,805
First Financial Bancorp 12,929 230,265
First Financial Bankshares, Inc. (L) 14,483 400,310
First Financial Corp. 2,920 104,799
First Horizon National Corp. 110,087 1,573,143
First Interstate BancSystem, Inc., Class A 4,313 119,988
First Merchants Corp. 8,137 191,545
First Midwest Bancorp, Inc. 16,880 293,206
First NBC Bank Holding Company (I) 3,577 117,969
First Niagara Financial Group, Inc. 166,354 1,470,569
FirstMerit Corp. 114,599 2,184,257
Flushing Financial Corp. 7,405 148,618
FNB Corp. 38,358 504,024
Fukuoka Financial Group, Inc. 196,272 1,009,325
Fulton Financial Corp. 84,145 1,038,349
German American Bancorp, Inc. 3,499 102,976
Glacier Bancorp, Inc. 16,833 423,350
Great Southern Bancorp, Inc. 2,438 96,033
Great Western Bancorp, Inc. 4,019 88,458
Hancock Holding Company 56,255 1,679,774
Hang Seng Bank, Ltd. 194,290 3,516,427
Hanmi Financial Corp. 7,411 156,743
Heartland Financial USA, Inc. 3,736 121,906
Heritage Commerce Corp. 6,598 60,240
Heritage Financial Corp. 7,520 127,840

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

Shares or
Principal
       Amount        Value
COMMON STOCKS (continued)
Banks (continued)
Hilltop Holdings, Inc. (I) 16,880 $ 328,147
Hokuhoku Financial Group, Inc. 297,899 664,041
Home BancShares, Inc. 12,210 413,797
HomeTrust Bancshares, Inc. (I) 5,618 89,719
Horizon Bancorp 2,545   59,528
HSBC Holdings PLC 4,847,722 41,309,459
Hudson Valley Holding Corp. 3,468 88,642
Huntington Bancshares, Inc. 279,313 3,086,409
IBERIABANK Corp. 7,039 443,668
Independent Bank Corp. 5,664 248,480
Independent Bank Corp. (MI)   5,546 71,155
Independent Bank Group, Inc. 2,241 87,197
ING Groep NV (I) 975,684 14,291,798
International Bancshares Corp. 39,451 1,026,910
Intesa Sanpaolo RSP 237,617   738,003
Intesa Sanpaolo SpA 3,201,240 10,865,014
Investors Bancorp, Inc. 79,085 926,876
JPMorgan Chase & Co. 1,286,449 77,933,080
KBC Groep NV 63,091 3,899,172
KeyCorp 295,100 4,178,616
Lakeland Bancorp, Inc. 9,384 107,916
Lakeland Financial Corp. 3,808 154,529
LegacyTexas Financial Group, Inc. 9,089 206,593
Lloyds Banking Group PLC (I) 14,419,029 16,713,618
M&T Bank Corp. 45,858 5,823,966
MainSource Financial Group, Inc. 4,926 96,747
MB Financial, Inc. 14,828 464,265
Mercantile Bank Corp. 4,264 83,361
Metro Bancorp, Inc. 3,433 94,648
Mitsubishi UFJ Financial Group, Inc. 3,221,792 19,953,884
Mizrahi Tefahot Bank, Ltd. 35,394 359,172
Mizuho Financial Group, Inc. 5,849,106 10,279,666
National Australia Bank, Ltd. 598,452 17,519,255
National Bank Holdings Corp., Class A 8,156 153,414
National Penn Bancshares, Inc. 28,117 302,820
Natixis 236,758 1,773,456
NBT Bancorp, Inc. 9,795 245,463
NewBridge Bancorp 8,701 77,613
Nordea Bank AB 766,865 9,340,779
OFG Bancorp 10,005 163,282
Old National Bancorp 26,485 375,822
Oversea-Chinese Banking Corp., Ltd. 756,324 5,824,002
Pacific Continental Corp. 5,054 66,814
Pacific Premier Bancorp, Inc. (I) 4,491 72,709
PacWest Bancorp 45,505 2,133,729
Park National Corp. 2,848 243,675
Park Sterling Corp. 11,454 81,323
Peapack Gladstone Financial Corp. 4,032 87,091
Penns Woods Bancorp, Inc. 1,468 71,800
Peoples Bancorp, Inc. 3,661 86,546
Peoples Financial Services Corp. 1,990 89,291
Pinnacle Financial Partners, Inc. 7,958 353,813
Preferred Bank 3,067 84,250
PrivateBancorp, Inc. 15,986 562,228
Prosperity Bancshares, Inc. 43,809 2,299,096
Raiffeisen Bank International AG (L) 29,835 414,622
Regions Financial Corp. 463,397 4,379,102
Renasant Corp. (L) 7,147 214,767
Republic Bancorp, Inc., Class A 2,667 65,955
Resona Holdings, Inc. 554,832 2,753,501
Royal Bank of Scotland Group PLC (I) 643,428 3,250,405
S&T Bancorp, Inc. 6,685 189,720
Sandy Spring Bancorp, Inc. 5,850 153,446
Seacoast Banking Corp. of Florida (I) 4,983 71,107
Seven Bank, Ltd. 152,840 753,613
Shinsei Bank, Ltd. 418,663 832,444
Sierra Bancorp 3,572 59,652
Signature Bank (I) 23,648 3,064,308
Simmons First National Corp., Class A 3,770 171,422
Skandinaviska Enskilda Banken AB, Series A 383,461 4,475,654
Societe Generale SA 183,063 8,838,649
South State Corp. 5,446 372,452
Southside Bancshares, Inc. (L) 5,535 158,799
Southwest Bancorp, Inc. 4,909 87,331
Standard Chartered PLC 624,762 10,119,090
State Bank Financial Corp. 8,078 169,638
Sterling Bancorp 20,254 271,606
Stock Yards Bancorp, Inc. 3,620 124,637
Stonegate Bank 2,789 84,200
Suffolk Bancorp 2,964 70,425
Sumitomo Mitsui Financial Group, Inc. 321,609 12,319,097
Sumitomo Mitsui Trust Holdings, Inc. 834,753 3,467,625
SunTrust Banks, Inc. 180,971 7,436,098
Suruga Bank, Ltd. 45,803 951,175
Susquehanna Bancshares, Inc. 41,674 571,351
SVB Financial Group (I) 23,953 3,042,989
Svenska Handelsbanken AB, A Shares 126,185 5,682,932
Swedbank AB, A Shares (L) 228,921 5,465,198
Synovus Financial Corp. 63,979 1,792,052
TCF Financial Corp. 77,348 1,215,911
Texas Capital Bancshares, Inc. (I) 10,247 498,517
The Bancorp, Inc. (I) 8,252 74,516
The Bank of Kyoto, Ltd. 84,070 881,130
The Bank of Yokohama, Ltd. 295,566 1,731,023
The Chiba Bank, Ltd. 188,204 1,379,359
The Chugoku Bank, Ltd. 41,012 612,393
The First of Long Island Corp. 3,297 84,074
The Gunma Bank, Ltd. 97,025 655,451
The Hachijuni Bank, Ltd. 104,338 735,700
The Hiroshima Bank, Ltd. 127,000 684,447
The Iyo Bank, Ltd. 61,259 726,487
The Joyo Bank, Ltd. 161,944 832,256
The PNC Financial Services Group, Inc. 179,644 16,750,007
The Shizuoka Bank, Ltd. 134,908 1,345,528
Tompkins Financial Corp. 3,382 182,121
Towne Bank (L) 9,960 160,157
TriCo Bancshares 5,322 128,420
TriState Capital Holdings, Inc. (I) 6,026 63,092
Trustmark Corp. 46,944 1,139,800
U.S. Bancorp 614,539 26,836,918
UMB Financial Corp. 8,459 447,397
Umpqua Holdings Corp. 140,842 2,419,666
UniCredit SpA 1,110,822 7,532,809
Union Bankshares Corp. 10,555 234,427
Unione di Banche Italiane SCPA 217,663 1,697,572
United Bankshares, Inc. 15,329 576,064
United Community Banks, Inc. 11,294 213,231
United Overseas Bank, Ltd. 327,139 5,483,554
Univest Corp. of Pennsylvania 4,547 89,985
Valley National Bancorp 153,991 1,453,675
Washington Trust Bancorp, Inc. 3,446 131,603
Webster Financial Corp. 62,514 2,316,144
Wells Fargo & Company 1,617,738 88,004,947
WesBanco, Inc. 7,141 232,654
West Bancorp, Inc. 4,191 83,359
WestAmerica Bancorp. (L) 6,152 265,828

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

Shares or
Principal
       Amount        Value
COMMON STOCKS (continued)
Banks (continued)
Western Alliance Bancorp (I) 16,784 $ 497,478
Westpac Banking Corp. 785,744 23,486,712
Wilshire Bancorp, Inc. 16,239 161,903
Wintrust Financial Corp. 10,337 492,868
Yadkin Financial Corp. (I) 4,875 98,963
Yamaguchi Financial Group, Inc. (L) 52,133   599,179
Zions Bancorporation   71,143 1,920,861
870,521,320
Capital markets - 2.1%  
3i Group PLC 246,881 1,764,044
Aberdeen Asset Management PLC 233,786 1,590,516
Affiliated Managers Group, Inc. (I) 18,847 4,047,959
Ameriprise Financial, Inc. 62,997 8,242,527
Arlington Asset Investment Corp., Class A (L) 4,861 116,956
BGC Partners, Inc., Class A 39,125 369,731
BlackRock, Inc. 43,781 16,016,841
Calamos Asset Management, Inc., Class A 4,485 60,323
Cohen & Steers, Inc. (L) 4,350 178,133
Cowen Group, Inc., Class A (I) 26,551 138,065
Credit Suisse Group AG (I) 386,657 10,402,590
Daiwa Securities Group, Inc. 417,508 3,286,575
Deutsche Bank AG 348,736 12,086,398
Diamond Hill Investment Group, Inc. 681 108,960
E*TRADE Financial Corp. (I) 99,708 2,847,162
Eaton Vance Corp. 55,662 2,317,766
Evercore Partners, Inc., Class A 7,417 383,162
FBR & Company (I) 2,060 47,607
Federated Investors, Inc., Class B 44,825 1,519,119
Financial Engines, Inc. (L) 11,561 483,597
Franklin Resources, Inc. 135,204 6,938,669
FXCM, Inc., Class A (L) 10,607 22,593
GAMCO Investors, Inc., Class A 1,477 115,959
Greenhill & Company, Inc. 6,383 253,086
Hargreaves Lansdown PLC 60,255 1,027,783
HFF, Inc., Class A 7,324 274,943
ICAP PLC 139,953 1,091,562
INTL. FCStone, Inc. (I) 3,560 105,839
Invesco, Ltd. 148,189 5,881,621
Investec PLC 139,113 1,153,739
Investment Technology Group, Inc. (I) 8,086 245,087
Janus Capital Group, Inc. 102,718 1,765,722
Julius Baer Group, Ltd. (I) 56,149 2,806,541
KCG Holdings, Inc., Class A (I) 10,154 124,488
Ladenburg Thalmann
       Financial Services, Inc. (I) 22,347 86,259
Legg Mason, Inc. 33,852 1,868,630
Macquarie Group, Ltd. 72,886 4,236,600
Manning & Napier, Inc. 3,564 46,368
Mediobanca SpA 153,202 1,465,762
Moelis & Company, Class A 1,755 52,861
Morgan Stanley 532,000 18,987,080
Nomura Holdings, Inc. 916,513 5,383,256
Northern Trust Corp. 75,710 5,273,202
OM Asset Management PLC 5,477 102,091
Oppenheimer Holdings, Inc., Class A 2,493 58,486
Partners Group Holding AG 4,408 1,314,145
Piper Jaffray Companies (I) 3,642 191,059
Platinum Asset Management, Ltd. 59,639 354,301
Raymond James Financial, Inc. 59,726 3,391,242
RCS Capital Corp., Class A (L) 2,270 24,153
Safeguard Scientifics, Inc. (I) 4,871 88,068
SBI Holdings, Inc. 51,890 628,148
Schroders PLC 31,580 1,495,990
SEI Investments Company 61,161 2,696,588
State Street Corp. 142,294 10,462,878
Stifel Financial Corp. (I) 45,733 2,549,615
T. Rowe Price Group, Inc. 90,004 7,288,524
The Bank of New York Mellon Corp. 384,322 15,465,117
The Charles Schwab Corp. 398,130 12,119,077
The Goldman Sachs Group, Inc. 139,794 26,277,078
UBS AG (I) 925,688 17,366,520
Virtus Investment Partners, Inc. 1,598 208,970
Waddell & Reed Financial, Inc., Class A 39,276 1,945,733
Walter Investment Management Corp. (I) (L) 8,612 139,084
Westwood Holdings Group, Inc. 1,715 103,415
WisdomTree Investments, Inc. 24,014 515,340
230,001,303
Consumer finance - 0.5%
Acom Company, Ltd. (I) (L) 97,010 336,402
AEON Credit Service Company, Ltd. 28,853 727,851
American Express Company 302,437 23,626,378
Capital One Financial Corp. 190,322 15,001,180
Cash America International, Inc. 6,313 147,093
Consumer Portfolio Services, Inc. (I) 5,469 38,228
Credit Acceptance Corp. (I) 1,410 274,950
Credit Saison Company, Ltd. 36,803 660,202
Discover Financial Services 154,353 8,697,792
Encore Capital Group, Inc. (I) 5,766 239,808
Enova International, Inc. (I) 5,820 114,596
Ezcorp, Inc., Class A (I) 11,997 109,533
First Cash Financial Services, Inc. (I) 6,517 303,171
Green Dot Corp., Class A (I) 6,991 111,297
JG Wentworth, Inc., Class A (I) (L) 3,078 31,980
Navient Corp. 138,675 2,819,263
Nelnet, Inc., Class A 4,512 213,508
PRA Group, Inc. (I) 11,138 605,016
Regional Management Corp. (I) 2,587 38,184
SLM Corp. (I) 199,036 1,847,054
Springleaf Holdings, Inc. (I) 5,482 283,803
World Acceptance Corp. (I) (L) 1,740 126,881
56,354,170
Diversified financial services - 1.6%
ASX, Ltd. 48,223 1,517,163
Berkshire Hathaway, Inc., Class B (I) 629,263 90,815,236
CBOE Holdings, Inc. 39,482 2,266,464
CME Group, Inc. 109,445 10,365,536
Deutsche Boerse AG 48,633 3,968,887
Eurazeo 9,809 672,238
Exor SpA 25,005 1,134,231
First Pacific Company, Ltd. 603,340 601,897
Gain Capital Holdings, Inc. 5,349 52,260
Groupe Bruxelles Lambert SA 20,502 1,699,804
Hong Kong Exchanges & Clearing, Ltd. 279,871 6,860,263
Industrivarden AB, C Shares 40,581 761,407
Intercontinental Exchange Group, Inc. 38,656 9,017,285
Investment AB Kinnevik, B Shares 59,817 1,996,828
Investor AB, B Shares 114,871 4,572,648
Japan Exchange Group, Inc. 66,272 1,918,760
Leucadia National Corp. 108,861 2,426,512
London Stock Exchange Group PLC 57,257 2,082,437
MarketAxess Holdings, Inc. 8,394 695,863
Marlin Business Services Corp. 2,150 43,065
McGraw-Hill Financial, Inc. 94,384 9,759,306
Mitsubishi UFJ Lease &
       Finance Company, Ltd. 124,870 617,082

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

Shares or
Principal
       Amount        Value
COMMON STOCKS (continued)
Diversified financial services (continued)
Moody’s Corp. 61,361 $ 6,369,272
MSCI, Inc. 52,817 3,238,210
NewStar Financial, Inc. (I)   6,320 74,134
ORIX Corp. 333,947 4,692,329
Pargesa Holding SA 7,700   540,384
PHH Corp. (I) 11,443 276,577
PICO Holdings, Inc. (I) 5,625   91,181
Singapore Exchange, Ltd. 203,648 1,207,503
The NASDAQ OMX Group, Inc. 40,304 2,053,086
Wendel SA 7,743 922,928
173,310,776
Insurance - 3.6%
ACE, Ltd. 112,956 12,593,464
Admiral Group PLC 49,155 1,112,999
Aegon NV 456,006 3,600,469
Aflac, Inc. 151,401 9,691,178
Ageas 54,831 1,969,118
AIA Group, Ltd. 3,046,135 19,125,105
Alleghany Corp. (I) 7,522 3,663,214
Allianz SE 115,527 20,057,410
Ambac Financial Group, Inc. (I) 10,195 246,719
American Equity Investment Life
       Holding Company 16,593 483,354
American Financial Group, Inc. 34,449 2,209,903
American International Group, Inc. 473,531 25,944,763
AMERISAFE, Inc. 4,269 197,441
AMP, Ltd. 745,917 3,640,708
AmTrust Financial Services, Inc. (L) 6,637 378,209
Aon PLC 96,717 9,296,438
Argo Group International Holdings, Ltd. 6,338 317,851
Arthur J. Gallagher & Company 77,431 3,619,899
Aspen Insurance Holdings, Ltd. 29,253 1,381,619
Assicurazioni Generali SpA 294,482 5,790,152
Assurant, Inc. 23,343 1,433,494
Atlas Financial Holdings, Inc. (I) 2,892 51,102
Aviva PLC 745,071 5,962,712
AXA SA 459,599 11,567,729
Baldwin & Lyons, Inc., Class B 2,793 65,524
Baloise Holding AG 12,054 1,593,021
Brown & Brown, Inc. 55,313 1,831,413
Cincinnati Financial Corp. 51,139 2,724,686
Citizens, Inc. (I) (L) 11,676 71,924
CNO Financial Group, Inc. 45,681 786,627
CNP Assurances 43,557 763,408
Crawford & Company, Class B 6,734 58,182
Delta Lloyd NV 49,899 938,952
Direct Line Insurance Group PLC 381,054 1,798,191
eHealth, Inc. (I) (L) 4,422 41,478
Employers Holdings, Inc. 7,066 190,711
Enstar Group, Ltd. (I) 1,836 260,455
Everest Re Group, Ltd. 21,003 3,654,522
FBL Financial Group, Inc., Class A 2,232 138,406
Federated National Holding Company 3,192 97,675
Fidelity & Guaranty Life 2,727 57,812
First American Financial Corp. 74,279 2,650,275
Friends Life Group, Ltd. 355,133 2,174,132
Genworth Financial, Inc., Class A (I) 174,363 1,274,594
Gjensidige Forsikring ASA 50,822 876,896
Global Indemnity PLC (I) 2,225 61,744
Greenlight Capital Re, Ltd., Class A (I) 6,284 199,831
Hallmark Financial Services, Inc. (I) 3,707 39,294
Hannover Rueckversicherung AG 15,301 1,581,123
HCC Insurance Holdings, Inc. 45,365 2,570,835
HCI Group, Inc. 2,041 93,621
Horace Mann Educators Corp. 9,043 309,271
Infinity Property & Casualty Corp. 2,615 214,561
Insurance Australia Group, Ltd. 589,464 2,728,620
Kemper Corp. 33,331 1,298,576
Legal & General Group PLC 1,496,358 6,162,519
Lincoln National Corp. 88,471 5,083,544
Loews Corp. 103,047 4,207,409
Maiden Holdings, Ltd. 11,225 166,467
Mapfre SA 235,089 858,338
Marsh & McLennan Companies, Inc. 185,948 10,429,823
Meadowbrook Insurance Group, Inc. 11,549 98,167
Medibank Pvt., Ltd. (I) 695,608 1,226,802
Mercury General Corp. 17,100 987,525
MetLife, Inc. 385,545 19,489,300
Montpelier Re Holdings, Ltd. 7,816 300,447
MS&AD Insurance Group Holdings, Inc. 128,651 3,601,716
Muenchener Rueckversicherungs AG 43,763 9,403,886
National General Holdings Corp. 8,326 155,696
National Interstate Corp. 1,875 52,650
National Western Life Insurance
       Company, Class A 547 139,102
NN Group NV (I) 39,733 1,126,421
Old Mutual PLC 1,235,084 4,054,367
Old Republic International Corp. 113,215 1,691,432
OneBeacon Insurance Group, Ltd., Class A 5,498 83,625
Primerica, Inc. 36,652 1,865,587
Principal Financial Group, Inc. 94,463 4,852,564
Prudential Financial, Inc. 156,678 12,582,810
Prudential PLC 647,865 16,077,058
QBE Insurance Group, Ltd. 345,292 3,413,145
Reinsurance Group of America, Inc. 32,324 3,012,274
RenaissanceRe Holdings, Ltd. 21,509 2,145,093
RLI Corp. 9,622 504,289
RSA Insurance Group PLC 257,305 1,603,788
Safety Insurance Group, Inc. 2,946 176,024
Sampo OYJ, Class A 112,977 5,698,379
SCOR SE 38,952 1,313,762
Selective Insurance Group, Inc. 12,671 368,093
Sompo Japan Nipponkoa Holdings, Inc. 84,391 2,623,576
Sony Financial Holdings, Inc. 44,116 709,650
StanCorp Financial Group, Inc. 19,807 1,358,760
Standard Life PLC 494,570 3,475,192
State Auto Financial Corp. 3,479 84,505
State National Companies, Inc. 6,447 64,148
Stewart Information Services Corp. 4,831 196,332
Suncorp Group, Ltd. 324,098 3,323,497
Swiss Life Holding AG (I) 8,011 1,979,092
Swiss Re AG 89,073 8,591,797
Symetra Financial Corp. 16,859 395,512
T&D Holdings, Inc. 147,125 2,020,923
The Allstate Corp. 143,704 10,227,414
The Chubb Corp. 79,691 8,056,760
The Dai-ichi Life Insurance Company, Ltd. 273,237 3,963,332
The Hanover Insurance Group, Inc. 20,822 1,511,261
The Hartford Financial Services Group, Inc. 145,237 6,073,811
The Navigators Group, Inc. (I) 2,310 179,810
The Phoenix Companies, Inc. (I) 1,410 70,486
The Progressive Corp. 185,114 5,035,101
The Travelers Companies, Inc. 110,918 11,993,563
Third Point Reinsurance, Ltd. (I) 12,552 177,611
Tokio Marine Holdings, Inc. 175,585 6,627,772
Torchmark Corp. 43,843 2,407,858

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

Shares or      
Principal
Amount Value
COMMON STOCKS (continued)
Insurance (continued)
Tryg A/S 5,324 $ 626,148
UnipolSai SpA 231,213 672,767
United Fire Group, Inc. 4,722 150,018
United Insurance Holdings Corp. 3,733 83,993
Universal Insurance Holdings, Inc. 6,927 177,262
Unum Group 86,772 2,926,820
Vienna Insurance Group AG 9,255 409,780
W.R. Berkley Corp. 47,305 2,389,376
XL Group PLC 88,193 3,245,502
Zurich Insurance Group AG (I) 37,804 12,777,833
403,020,774
Real estate investment trusts - 2.9%
Acadia Realty Trust 15,078 525,921
AG Mortgage Investment Trust, Inc. 6,250 117,750
Agree Realty Corp. 4,151 136,858
Alexander’s, Inc. 469 214,136
Alexandria Real Estate Equities, Inc. 33,856 3,319,242
Altisource Residential Corp., Class B 12,929 269,699
American Assets Trust, Inc. 8,015 346,889
American Campus Communities, Inc. 52,728     2,260,449
American Capital Mortgage Investment Corp. 11,096 199,284
American Residential Properties, Inc. (I) 7,615 136,994
American Tower Corp. 145,814 13,728,388
Anworth Mortgage Asset Corp. 24,377     124,079
Apartment Investment & Management  
       Company, Class A 54,049 2,127,369
Apollo Commercial Real Estate Finance, Inc. 9,947 170,889
Apollo Residential Mortgage, Inc. 7,550 120,423
Ares Commercial Real Estate Corp. 8,239 91,041
Armada Hoffler Properties, Inc. 6,919 73,757
ARMOUR Residential REIT, Inc. 79,687 252,608
Ascendas Real Estate Investment Trust 516,431 974,108
Ashford Hospitality Prime, Inc. 6,316 105,919
Ashford Hospitality Trust, Inc. 18,284 175,892
Associated Estates Realty Corp. 12,734 314,275
AvalonBay Communities, Inc. 45,589 7,943,883
Aviv REIT, Inc. 4,382 159,943
Beni Stabili SpA 44 34
BioMed Realty Trust, Inc. 94,628 2,144,270
Boston Properties, Inc. 52,872 7,427,459
Camden Property Trust 40,758 3,184,423
Campus Crest Communities, Inc. 14,996 107,371
CapitaCommercial Trust 515,096 663,037
CapitaMall Trust 613,181 981,652
Capstead Mortgage Corp. 19,977 235,129
CareTrust REIT, Inc. 6,820 92,479
CatchMark Timber Trust, Inc., Class A 5,188 60,803
Cedar Realty Trust, Inc. 19,701 147,560
Chambers Street Properties 52,594 414,441
Chatham Lodging Trust 8,476 249,279
Chesapeake Lodging Trust 12,251 414,451
Colony Financial, Inc. 23,782 616,429
CorEnergy Infrastructure Trust, Inc. 11,942 82,758
CoreSite Realty Corp. 4,677 227,676
Corporate Office Properties Trust 43,486 1,277,619
Corrections Corp. of America 54,892 2,209,952
Cousins Properties, Inc. 49,006 519,464
Crown Castle International Corp. 115,214 9,509,764
CubeSmart 35,896 866,888
CyrusOne, Inc. 7,345 228,576
CYS Investments, Inc. 33,175 295,589
DCT Industrial Trust, Inc. 17,977 623,083
Dexus Property Group 230,149 1,324,984
DiamondRock Hospitality Company 43,231 610,854
Duke Realty Corp. 162,032 3,527,437
DuPont Fabros Technology, Inc. 14,099 460,755
Dynex Capital, Inc. 12,847 108,814
EastGroup Properties, Inc. 6,954 418,214
Education Realty Trust, Inc. 10,334 365,617
Empire State Realty Trust, Inc., Class A 20,457 384,796
EPR Properties 12,476 748,934
Equity One, Inc. 49,932 1,332,685
Equity Residential 125,561 9,776,179
Essex Property Trust, Inc. 22,383 5,145,852
Excel Trust, Inc. 14,200 199,084
Extra Space Storage, Inc. 51,970 3,511,613
Federal Realty Investment Trust 32,272 4,750,761
Federation Centres 362,637 837,082
FelCor Lodging Trust, Inc. 27,899 320,560
First Industrial Realty Trust, Inc. 24,672 528,721
First Potomac Realty Trust 13,925 165,568
Fonciere Des Regions 7,207 713,664
Franklin Street Properties Corp. 20,994 269,143
Gecina SA 7,000 946,757
General Growth Properties, Inc. 216,871 6,408,538
Getty Realty Corp. 6,241 113,586
Gladstone Commercial Corp. 5,466 101,722
Goodman Group 439,197 2,114,799
Government Properties Income Trust 15,222 347,823
Gramercy Property Trust, Inc. 10,391 291,675
Hammerson PLC 196,000 1,930,238
Hannon Armstrong Sustainable
        Infrastructure Capital, Inc. 6,198 113,299
Hatteras Financial Corp. 20,735 376,548
HCP, Inc. 159,172 6,877,822
Health Care REIT, Inc. 120,666 9,334,722
Healthcare Realty Trust, Inc. 21,252 590,381
Hersha Hospitality Trust 44,749 289,526
Highwoods Properties, Inc. 63,330 2,899,247
Home Properties, Inc. 27,162 1,882,055
Hospitality Properties Trust 70,474 2,324,937
Host Hotels & Resorts, Inc. 261,569 5,278,462
Hudson Pacific Properties, Inc. 14,562 483,313
ICADE 9,380 847,438
Inland Real Estate Corp. 19,724 210,850
Intu Properties PLC 231,419 1,193,081
Invesco Mortgage Capital, Inc. 27,241 423,053
Investors Real Estate Trust 25,993 194,948
Iron Mountain, Inc. 64,570 2,355,514
iStar Financial, Inc. (I) 19,302 250,926
Japan Prime Realty Investment Corp. 200 688,731
Japan Real Estate Investment Corp. 318 1,495,739
Japan Retail Fund Investment Corp. 616 1,224,042
Keppel REIT 21,160 18,507
Kilroy Realty Corp. 40,598 3,092,350
Kimco Realty Corp. 141,858 3,808,887
Kite Realty Group Trust 7,347 206,965
Klepierre 43,602 2,141,125
Lamar Advertising Company, Class A 37,721 2,235,724
Land Securities Group PLC 200,218 3,717,102
LaSalle Hotel Properties 77,682 3,018,723
Lexington Realty Trust 46,018 452,357
Liberty Property Trust 69,980 2,498,286
LTC Properties, Inc. 7,747 356,362
Mack-Cali Realty Corp. 59,243 1,142,205
Medical Properties Trust, Inc. 45,847 675,785

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (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)
Mid-America Apartment Communities, Inc. 35,390 $ 2,734,585
Mirvac Group 938,519 1,433,036
Monmouth Real Estate
       Investment Corp., Class A 13,106 145,608
National Health Investors, Inc. 8,272 587,395
National Retail Properties, Inc. 62,143 2,545,999
New Residential Investment Corp. 31,006 466,020
New York Mortgage Trust, Inc. 24,136 187,295
New York REIT, Inc. 36,668 384,281
Nippon Building Fund, Inc. 352 1,729,206
Nippon Prologis REIT, Inc. 371 816,708
Novion Property Group 536,951 1,022,875
Omega Healthcare Investors, Inc. 65,151 2,643,176
One Liberty Properties, Inc. 3,244 79,218
Owens Realty Mortgage, Inc. 3,133 46,932
Parkway Properties, Inc. 17,917 310,860
Pebblebrook Hotel Trust 15,821 736,784
Pennsylvania Real Estate Investment Trust 15,391 357,533
PennyMac Mortgage Investment Trust 16,450 350,221
Physicians Realty Trust 15,558 273,976
Plum Creek Timber Company, Inc. 60,154 2,613,691
Potlatch Corp. 28,177   1,128,207
Prologis, Inc. 176,392   7,683,636
PS Business Parks, Inc. 4,303 357,321
Public Storage 50,098 9,876,320
QTS Realty Trust, Inc., Class A 2,621 95,431
RAIT Financial Trust 19,114 131,122
Ramco-Gershenson Properties Trust 17,483 325,184
Rayonier, Inc. 59,497 1,604,039
Realty Income Corp. 105,772 5,457,835
Redwood Trust, Inc. 18,425 329,255
Regency Centers Corp. 44,240 3,010,090
Resource Capital Corp. 29,941 135,932
Retail Opportunity Investments Corp. 20,010 366,183
Rexford Industrial Realty, Inc. 13,093 207,000
RLJ Lodging Trust 28,649 897,000
Rouse Properties, Inc. 8,707 165,085
Ryman Hospitality Properties 9,567 582,726
Sabra Health Care REIT, Inc. 13,249 439,204
Saul Centers, Inc. 2,210 126,412
Scentre Group 1,340,325 3,807,641
Segro PLC 188,455 1,163,747
Select Income REIT 8,077 201,844
Senior Housing Properties Trust 110,445 2,450,775
Silver Bay Realty Trust Corp. 8,986 145,214
Simon Property Group, Inc. 107,267 20,985,716
SL Green Realty Corp. 34,061 4,372,751
Sovran Self Storage, Inc. 7,177 674,207
STAG Industrial, Inc. 12,817 301,456
Starwood Waypoint Residential Trust (L) 8,732 225,722
Stockland 591,592 2,021,224
Store Capital Corp. 7,025 164,034
Strategic Hotels & Resorts, Inc. (I) 59,435 738,777
Summit Hotel Properties, Inc. 18,891 265,796
Sun Communities, Inc. 10,574 705,497
Sunstone Hotel Investors, Inc. 45,561 759,502
Suntec Real Estate Investment Trust 601,500 812,357
Tanger Factory Outlet Centers 44,373 1,560,598
Taubman Centers, Inc. 29,758 2,295,235
Terreno Realty Corp. 9,798 223,394
The British Land Company PLC 244,321 3,011,229
The Geo Group, Inc. 15,974 698,703
The GPT Group 428,446 1,488,143
The Link REIT 582,404 3,592,954
The Macerich Company 48,627 4,100,715
UDR, Inc. 121,621 4,138,763
UMH Properties, Inc. 6,348 63,924
Unibail-Rodamco SE 23,913 6,457,373
Unibail-Rodamco SE 890 240,332
United Urban Investment Corp. 634 988,352
Universal Health Realty Income Trust 2,819 158,569
Urban Edge Properties 41,077 973,525
Urstadt Biddle Properties, Inc., Class A 6,212 143,249
Ventas, Inc. 114,226 8,340,783
Vornado Realty Trust 60,322 6,756,064
Washington Real Estate Investment Trust 14,507 400,828
Weingarten Realty Investors 52,972 1,905,933
Western Asset Mortgage Capital Corp. 9,338 140,817
Westfield Corp. (I) 496,483 3,598,069
Weyerhaeuser Company 181,305 6,010,261
Whitestone REIT 6,169 97,964
WP Glimcher, Inc. 87,000 1,446,810
327,937,677
Real estate management and development - 0.7%
Aeon Mall Company, Ltd. 29,231 578,865
Alexander & Baldwin, Inc. 32,270 1,393,419
Altisource Asset Management Corp. (I) (L) 329 60,908
Altisource Portfolio Solutions SA (I) (L) 3,139 40,399
AV Homes, Inc. (I) 2,990 47,720
CapitaLand, Ltd. 650,684 1,696,054
CBRE Group, Inc., Class A (I) 96,564 3,737,992
City Developments, Ltd. 103,813 760,917
CK Hutchison Holdings, Ltd. 350,516 7,161,222
Consolidated-Tomoka Land Company 1,026 61,211
Daito Trust Construction Company, Ltd. 18,160 2,027,848
Daiwa House Industry Company, Ltd. 149,306 2,942,858
Deutsche Annington Immobilien SE 87,259 2,940,421
Deutsche Wohnen AG 72,667 1,858,586
Forestar Group, Inc. (I) 8,087 127,532
FRP Holdings, Inc. (I) 1,666 60,642
Global Logistic Properties, Ltd. 784,286 1,513,746
Hang Lung Properties, Ltd. 569,313 1,599,484
Henderson Land Development Company, Ltd. 262,510 1,844,149
Hulic Company, Ltd. 58,969 662,578
Hysan Development Company, Ltd. 161,279 706,933
IMMOFINANZ AG (I) 243,386 716,817
Jones Lang LaSalle, Inc. 21,072 3,590,669
Kennedy-Wilson Holdings, Inc. 16,034 419,129
Keppel Land, Ltd. 170,729 552,877
Kerry Properties, Ltd. 164,555 571,212
Lend Lease Corp. 139,456 1,761,411
Marcus & Millichap, Inc. (I) 1,787 66,977
Mitsubishi Estate Company, Ltd. 316,124 7,331,532
Mitsui Fudosan Company, Ltd. 237,826 6,984,473
New World Development Company, Ltd. 1,320,569 1,530,989
Nomura Real Estate Holdings, Inc. 32,163 579,229
NTT Urban Development Corp. 28,100 280,686
RE/MAX Holdings, Inc., Class A 2,482 82,427
Sino Land Company, Ltd. 763,722 1,245,350
Sumitomo Realty &
        Development Company, Ltd. 90,483 3,257,511
Sun Hung Kai Properties, Ltd. 427,977 6,599,185
Swire Pacific, Ltd., Class A 160,877 2,189,933
Swire Properties, Ltd. 297,091 964,904
Swiss Prime Site AG (I) 14,573 1,265,335
Tejon Ranch Company (I) 3,196 84,534

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (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)
The St. Joe Company (I) 14,068 $ 261,102
The Wharf Holdings, Ltd. 380,963 2,659,444
Tokyo Tatemono Company, Ltd. 104,580 766,185
Tokyu Fudosan Holdings Corp. 122,681 836,754
UOL Group, Ltd. 118,945 661,976
Wheelock and Company, Ltd. 232,456 1,187,869
78,271,994
Thrifts and mortgage finance - 0.1%
Anchor Bancorp Wisconsin, Inc. (I) 1,752 60,847
Astoria Financial Corp. 19,436 251,696
Bank Mutual Corp. 12,289 89,955
BankFinancial Corp. 4,873 64,031
BBX Capital Corp., Class A (I) 2,131 39,637
Beneficial Bancorp, Inc. (I) 7,568 85,443
Berkshire Hills Bancorp, Inc. 5,890 163,153
BofI Holding, Inc. (I) 3,360 312,614
Brookline Bancorp, Inc. 16,806 168,900
Capitol Federal Financial, Inc. 31,835 397,938
Clifton Bancorp, Inc. 6,886 97,161
Dime Community Bancshares, Inc. 8,204 132,084
Essent Group, Ltd. (I) 9,803 234,390
EverBank Financial Corp. 20,103   362,457
Federal Agricultural Mortgage Corp., Class C 2,469   69,601
First Defiance Financial Corp. 2,294 75,289
Flagstar Bancorp, Inc. (I) 4,944 71,737
Home Loan Servicing Solutions, Ltd. (L) 15,961 263,995
HomeStreet, Inc. (I) 5,215 95,539
Hudson City Bancorp, Inc. 168,159 1,762,306
Ladder Capital Corp., Class A (I) 3,608 66,784
LendingTree, Inc. (I) 1,439 80,598
Meridian Bancorp, Inc. (I) 5,147 67,786
Meta Financial Group, Inc. 1,626 64,601
MGIC Investment Corp. (I) 75,672 728,721
New York Community Bancorp, Inc. (L) 208,018 3,480,141
NMI Holdings, Inc., Class A (I) 12,640 94,674
Northfield Bancorp, Inc. 11,833 175,365
Northwest Bancshares, Inc. 21,220 251,457
OceanFirst Financial Corp. 3,705 63,985
Oritani Financial Corp. 10,994 159,963
PennyMac Financial Services, Inc. (I) 3,333 56,561
People’s United Financial, Inc. 105,416 1,602,323
Provident Financial Services, Inc. 13,544 252,596
Radian Group, Inc. 42,645 716,010
Stonegate Mortgage Corp. (I) (L) 3,733 40,391
TrustCo Bank Corp. 22,182 152,612
United Community Financial Corp. 12,282 67,060
United Financial Bancorp, Inc. 11,801 146,686
Walker & Dunlop, Inc. (I) 4,214 74,714
Washington Federal, Inc. 68,234 1,487,842
Waterstone Financial, Inc. 7,742 99,407
WSFS Financial Corp. 2,102 158,974
14,888,024
2,154,306,038
Health care - 13.1%
Biotechnology - 2.1%
ACADIA Pharmaceuticals, Inc. (I) 17,588 573,193
Acceleron Pharma, Inc. (I) 3,660 139,300
Achillion Pharmaceuticals, Inc. (I) 25,488 251,312
Acorda Therapeutics, Inc. (I) 9,330 310,502
Actelion, Ltd. (I) 25,982 2,996,596
Aegerion Pharmaceuticals, Inc. (I) (L) 6,698 175,287
Agenus, Inc. (I) 14,560 74,693
Agios Pharmaceuticals, Inc. (I) 3,244 305,909
Alder Biopharmaceuticals, Inc. (I) 2,297 66,291
Alexion Pharmaceuticals, Inc. (I) 69,667 12,073,291
AMAG Pharmaceuticals, Inc. (I) 4,853 265,265
Amgen, Inc. 261,866 41,859,280
Anacor Pharmaceuticals, Inc. (I) 7,363 425,950
Applied Genetic Technologies Corp. (I) 1,421 28,406
Arena Pharmaceuticals, Inc. (I) 54,202 236,863
ARIAD Pharmaceuticals, Inc. (I) (L) 37,055 305,333
Array BioPharma, Inc. (I) (L) 31,371 231,204
Arrowhead Research Corp. (I) (L) 12,621 85,381
Atara Biotherapeutics, Inc. (I) 1,607 66,803
Auspex Pharmaceuticals, Inc. (I) 2,319 232,526
Avalanche Biotechnologies, Inc. (I) 1,755 71,113
BioCryst Pharmaceuticals, Inc. (I) (L) 15,563 140,534
Biogen, Inc. (I) 80,958 34,183,706
BioSpecifics Technologies Corp. (I) 900 35,235
BioTime, Inc. (I) (L) 12,648 62,861
Bluebird Bio, Inc. (I) 5,504 664,718
Calithera Biosciences, Inc. (I) 1,856 30,476
Cara Therapeutics, Inc. (I) 1,456 14,633
Celgene Corp. (I) 276,264 31,847,714
Celldex Therapeutics, Inc. (I) (L) 19,976 556,731
Cellular Dynamics International, Inc. (I) 2,523 41,453
Cepheid, Inc. (I) 15,556 885,136
ChemoCentryx, Inc. (I) (L) 6,238 47,097
Chimerix, Inc. (I) 6,758 254,709
Clovis Oncology, Inc. (I) 5,521 409,824
Coherus Biosciences, Inc. (I) 1,568 47,949
CSL, Ltd. 119,870 8,386,383
CTI BioPharma Corp. (I) 35,526 64,302
Cytokinetics, Inc. (I) 8,064 54,674
CytRx Corp. (I) (L) 12,508 42,152
Durata Therapeutics, Inc. (I) 3,707 6,784
Dyax Corp. (I) 30,409 509,503
Dynavax Technologies Corp. (I) (L) 5,999 134,558
Emergent Biosolutions, Inc. (I) 6,482 186,422
Enanta Pharmaceuticals, Inc. (I) (L) 2,344 71,773
Epizyme, Inc. (I) 2,906 54,575
Esperion Therapeutics, Inc. (I) 1,364 126,306
Exact Sciences Corp. (I) (L) 19,818 436,392
Exelixis, Inc. (I) (L) 44,457 114,254
FibroGen, Inc. (I) 2,131 66,871
Five Prime Therapeutics, Inc. (I) 4,611 105,361
Flexion Therapeutics, Inc. (I) 1,505 33,893
Foundation Medicine, Inc. (I) (L) 3,112 149,718
Galena Biopharma, Inc. (I) (L) 27,799 38,641
Genomic Health, Inc. (I) 3,778 115,418
Geron Corp. (I) (L) 35,828 135,072
Gilead Sciences, Inc. (I) 513,941 50,433,030
Grifols SA 37,906 1,624,223
Halozyme Therapeutics, Inc. (I) 23,203 331,339
Heron Therapeutics, Inc. (I) 5,437 79,108
Hyperion Therapeutics, Inc. (I) 3,102 142,382
Idera Pharmaceuticals, Inc. (I) (L) 19,858 73,673
Immune Design Corp. (I) 1,342 28,330
ImmunoGen, Inc. (I) (L) 19,512 174,632
Immunomedics, Inc. (I) (L) 19,293 73,892
Infinity Pharmaceuticals, Inc. (I) 10,986 153,584
Inovio Pharmaceuticals, Inc. (I) (L) 13,734 112,069
Insmed, Inc. (I) 11,173 232,398
Insys Therapeutics, Inc. (I) (L) 2,242 130,327

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

Shares or      
Principal
Amount Value
COMMON STOCKS (continued)
Biotechnology (continued)
Intrexon Corp. (I) (L) 8,424 $ 382,197
Ironwood Pharmaceuticals, Inc. (I) 26,866 429,856
Isis Pharmaceuticals, Inc. (I) 26,195 1,667,836
Karyopharm Therapeutics, Inc. (I) 3,413 104,472
Keryx Biopharmaceuticals, Inc. (I) (L) 22,723 289,264
Kite Pharma, Inc. (I) 2,101 121,186
Kythera Biopharmaceuticals, Inc. (I) 3,961 198,644
Lexicon Pharmaceuticals, Inc. (I) (L) 59,157 55,862
Ligand Pharmaceuticals, Inc. (I) 4,404 339,592
MacroGenics, Inc. (I) 4,466 140,098
MannKind Corp. (I) (L) 51,275 266,630
Merrimack Pharmaceuticals, Inc. (I) (L) 22,022 261,621
MiMedx Group, Inc. (I) (L) 20,864 216,986
Mirati Therapeutics, Inc. (I) (L) 1,942 56,939
Momenta Pharmaceuticals, Inc. (I) 10,932 166,166
Navidea Biopharmaceuticals, Inc. (I) (L) 34,780 55,300
Neuralstem, Inc. (I) (L) 15,358 29,180
Neurocrine Biosciences, Inc. (I) 18,792 746,230
NewLink Genetics Corp. (I) 4,435 242,639
Northwest Biotherapeutics, Inc. (I) (L) 8,704 64,148
Novavax, Inc. (I) 53,218   440,113
Ohr Pharmaceutical, Inc. (I) 5,662   14,381
OncoMed Pharmaceuticals, Inc. (I) 2,999 77,314
Oncothyreon, Inc. (I) 24,157 39,376
Ophthotech Corp. (I) 3,130 145,639
OPKO Health, Inc. (I) (L) 43,952 622,800
Orexigen Therapeutics, Inc. (I) (L) 27,568 215,857
Organovo Holdings, Inc. (I) (L) 14,733 52,155
Osiris Therapeutics, Inc. (I) (L) 4,264 74,961
Otonomy, Inc. (I) 1,798 63,577
OvaScience, Inc. (I) (L) 3,815 132,495
PDL BioPharma, Inc. (L) 35,885 252,451
Peregrine Pharmaceuticals, Inc. (I) (L) 41,914 56,584
Portola Pharmaceuticals, Inc. (I) 9,583 363,771
Progenics Pharmaceuticals, Inc. (I) 15,823 94,622
Prothena Corp. PLC (I) 6,031 230,022
PTC Therapeutics, Inc. (I) 5,453 331,815
Puma Biotechnology, Inc. (I) 5,169 1,220,453
Radius Health, Inc. (I) 2,002 82,402
Raptor Pharmaceutical Corp. (I) (L) 14,335 155,821
Receptos, Inc. (I) 4,890 806,312
Regeneron Pharmaceuticals, Inc. (I) 25,460 11,494,681
Regulus Therapeutics, Inc. (I) (L) 3,430 58,104
Repligen Corp. (I) 7,154 217,195
Retrophin, Inc. (I) 4,844 116,062
Rigel Pharmaceuticals, Inc. (I) 20,691 73,867
Sage Therapeutics, Inc. (I) (L) 1,328 66,705
Sangamo BioSciences, Inc. (I) 15,260 239,277
Sarepta Therapeutics, Inc. (I) (L) 9,288 123,345
Spectrum Pharmaceuticals, Inc. (I) (L) 14,948 90,734
Stemline Therapeutics, Inc. (I) 3,607 52,193
Sunesis Pharmaceuticals, Inc. (I) 11,740 28,763
Synageva BioPharma Corp. (I) (L) 5,190 506,181
Synergy Pharmaceuticals, Inc. (I) (L) 22,358 103,294
Synta Pharmaceuticals Corp. (I) (L) 16,928 32,840
TESARO, Inc. (I) (L) 4,336 248,886
TG Therapeutics, Inc. (I) 6,216 96,224
Threshold Pharmaceuticals, Inc. (I) 14,041 57,006
Ultragenyx Pharmaceutical, Inc. (I) 1,752 108,782
United Therapeutics Corp. (I) 21,933 3,782,017
Vanda Pharmaceuticals, Inc. (I) (L) 9,083 84,472
Verastem, Inc. (I) 6,871 69,878
Versartis, Inc. (I) 2,031 37,309
Vertex Pharmaceuticals, Inc. (I) 83,544 9,855,686
Vital Therapies, Inc. (I) (L) 1,321 33,038
Xencor, Inc. (I) 3,269 50,081
XOMA Corp. (I) (L) 20,866 75,952
Zafgen, Inc. (I) 1,787 70,783
ZIOPHARM Oncology, Inc. (I) (L) 20,306 218,696
233,719,131
Health care equipment and supplies - 1.8%
Abaxis, Inc. 4,975 318,947
Abbott Laboratories 520,696 24,123,846
ABIOMED, Inc. (I) 8,898 636,919
Accuray, Inc. (I) (L) 17,493 162,685
Align Technology, Inc. (I) 34,145 1,836,489
Analogic Corp. 2,768 251,611
AngioDynamics, Inc. (I) 5,688 101,190
Anika Therapeutics, Inc. (I) 3,212 132,238
Antares Pharma, Inc. (I) (L) 27,303 73,991
AtriCure, Inc. (I) 6,371 130,542
Atrion Corp. 355 122,656
Baxter International, Inc. 187,235 12,825,598
Becton, Dickinson and Company 72,052 10,345,947
Boston Scientific Corp. (I) 459,135 8,149,646
C.R. Bard, Inc. 25,630 4,289,181
Cantel Medical Corp. 7,550 358,625
Cardiovascular Systems, Inc. (I) 6,220 242,829
Cerus Corp. (I) (L) 20,991 87,532
Cochlear, Ltd. 14,487 995,933
Coloplast A/S 28,225 2,132,260
CONMED Corp. 6,037 304,808
CryoLife, Inc. 6,858 71,117
Cyberonics, Inc. (I) (L) 5,983 388,416
Cynosure, Inc., Class A (I) 5,066 155,374
DENTSPLY International, Inc. 48,456 2,465,926
Derma Sciences, Inc. (I) 5,712 48,381
DexCom, Inc. (I) 16,694 1,040,704
Edwards Lifesciences Corp. (I) 37,220 5,302,361
Elekta AB, B Shares (L) 93,508 840,563
Endologix, Inc. (I) 14,402 245,842
Essilor International SA 51,546 5,918,261
Exactech, Inc. (I) 2,455 62,922
GenMark Diagnostics, Inc. (I) 9,615 124,803
Getinge AB, B Shares 50,818 1,255,651
Globus Medical, Inc., Class A (I) 14,643 369,589
Greatbatch, Inc. (I) 5,491 317,654
Haemonetics Corp. (I) 11,592 520,713
Halyard Health, Inc. (I) 21,872 1,076,102
HeartWare International, Inc. (I) 3,825 335,720
Hill-Rom Holdings, Inc. 26,559 1,301,391
Hologic, Inc. (I) 114,473 3,780,471
ICU Medical, Inc. (I) 2,942 274,018
IDEXX Laboratories, Inc. (I) 22,149 3,421,578
Inogen, Inc. (I) 1,205 38,548
Insulet Corp. (I) 12,470 415,875
Integra LifeSciences Holdings Corp. (I) 5,592 344,747
Intuitive Surgical, Inc. (I) 12,629 6,378,024
Invacare Corp. 7,313 141,945
K2M Group Holdings, Inc. (I) 2,091 46,107
LDR Holding Corp. (I) 3,740 137,034
Masimo Corp. (I) 10,054 331,581
Medtronic PLC 491,728 38,349,867
Meridian Bioscience, Inc. 9,414 179,619
Merit Medical Systems, Inc. (I) 9,681 186,359
Natus Medical, Inc. (I) 7,140 281,816

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (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)
Neogen Corp. (I) 8,206 $ 383,466
Nevro Corp. (I) 1,825 87,472
NuVasive, Inc. (I) 10,401 478,342
NxStage Medical, Inc. (I) 13,788 238,532
Ocular Therapeutix, Inc. (I) (L) 1,346 56,512
Olympus Corp. (I) 60,902 2,257,976
OraSure Technologies, Inc. (I) 12,822 83,856
Orthofix International NV (I) 4,184 150,164
Oxford Immunotec Global PLC (I) 4,195 59,066
Quidel Corp. (I) 6,415 173,077
ResMed, Inc. (L) 66,062 4,741,930
Rockwell Medical Technologies, Inc. (I) (L) 10,789 117,924
RTI Surgical, Inc. (I) 13,810 68,221
Sirona Dental Systems, Inc. (I) 26,111 2,349,729
Smith & Nephew PLC 224,714 3,831,723
Sonova Holding AG 13,645 1,893,280
Spectranetics Corp. (I) (L) 9,270 322,225
St. Jude Medical, Inc. 97,075 6,348,705
STAAR Surgical Company (I) (L) 9,117 67,739
STERIS Corp. (L) 41,046 2,884,302
Stryker Corp. 103,251 9,524,905
SurModics, Inc. (I) 3,115 81,083
Sysmex Corp. 36,879 2,044,824
Tandem Diabetes Care, Inc. (I) 2,412 30,439
Teleflex, Inc. 19,478     2,353,527
Terumo Corp. 77,117 2,031,489
The Cooper Companies, Inc. 22,696 4,253,684
Thoratec Corp. (I) 37,392 1,566,351
Tornier NV (I) 7,994 209,603
Transenterix, Inc. (I) (L) 6,832 20,018
Unilife Corp. (I) (L) 28,786 115,432
Utah Medical Products, Inc. 1,016 60,818
Varian Medical Systems, Inc. (I) 34,538 3,249,680
Vascular Solutions, Inc. (I) 3,913 118,642
West Pharmaceutical Services, Inc. 15,682 944,213
William Demant Holdings A/S (I) 5,684 482,651
Wright Medical Group, Inc. (I) 11,317 291,979
Zeltiq Aesthetics, Inc. (I) 6,455 199,008
Zimmer Holdings, Inc. 58,637 6,891,020
204,836,159
Health care providers and services - 2.1%
AAC Holdings, Inc. (I) (L) 1,270 38,837
Acadia Healthcare Company, Inc. (I) 9,532 682,491
Aceto Corp. 6,470 142,340
Addus HomeCare Corp. (I) 1,580 36,372
Adeptus Health, Inc., Class A (I) (L) 1,298 65,186
Aetna, Inc. 121,349 12,927,309
Air Methods Corp. (I) 8,747 407,523
Alfresa Holdings Corp. 43,800 617,200
Alliance HealthCare Services, Inc. (I) 1,324 29,366
Almost Family, Inc. (I) 1,973 88,213
Amedisys, Inc. (I) 6,095 163,224
AmerisourceBergen Corp. 72,000 8,184,240
AMN Healthcare Services, Inc. (I) 10,404 240,020
Amsurg Corp. (I) 9,375 576,750
Anthem, Inc. 92,054 14,214,058
Bio-Reference Labs, Inc. (I) 5,424 191,142
BioScrip, Inc. (I) (L) 16,368 72,510
BioTelemetry, Inc. (I) 6,287 55,640
Capital Senior Living Corp. (I) 6,588 170,893
Cardinal Health, Inc. 113,933 10,284,732
Celesio AG 13,004 384,004
Centene Corp. (I) 55,846 3,947,754
Chemed Corp. 3,881 463,391
Cigna Corp. 89,169 11,542,035
Civitas Solutions, Inc. (I) 2,762 57,836
Community Health Systems, Inc. (I) 54,862 2,868,185
CorVel Corp. (I) 2,529 87,023
Cross Country Healthcare, Inc. (I) 7,185 85,214
DaVita HealthCare Partners, Inc. (I) 59,549 4,840,143
ExamWorks Group, Inc. (I) 7,784 323,970
Express Scripts Holding Company (I) 250,792 21,761,222
Five Star Quality Care, Inc. (I) 10,321 45,825
Fresenius Medical Care AG &
       Company KGaA 54,978 4,569,866
Fresenius SE & Company KGaA 95,953 5,720,382
Genesis Healthcare, Inc. (I) 5,496 39,132
Hanger, Inc. (I) 8,008 181,702
HCA Holdings, Inc. (I) 101,570 7,641,111
Health Net, Inc. (I) 36,145 2,186,411
HealthEquity, Inc. (I) 2,310 57,727
Healthscope, Ltd. 288,028 669,619
HealthSouth Corp. 19,493 864,709
Healthways, Inc. (I) 7,065 139,181
Henry Schein, Inc. (I) 28,919 4,037,671
Humana, Inc. 51,621 9,189,570
IPC Healthcare, Inc. (I) 3,873 180,637
Kindred Healthcare, Inc. 17,499 416,301
Laboratory Corp. of America Holdings (I) 34,598 4,362,462
Landauer, Inc. 2,298 80,752
LHC Group, Inc. (I) 2,803 92,583
LifePoint Hospitals, Inc. (I) 20,774 1,525,850
Magellan Health Services, Inc. (I) 6,095 431,648
McKesson Corp. 80,346 18,174,265
Medipal Holdings Corp. 34,465 449,221
MEDNAX, Inc. (I) 45,160 3,274,552
Miraca Holdings, Inc. 14,117 649,001
Molina Healthcare, Inc. (I) 6,682 449,632
National Healthcare Corp. 2,271 144,685
Omnicare, Inc. 45,645 3,517,404
Owens & Minor, Inc. 43,565 1,474,240
Patterson Companies, Inc. 29,587 1,443,550
PharMerica Corp. (I) 6,691 188,619
Quest Diagnostics, Inc. 49,795 3,826,746
RadNet, Inc. (I) 7,305 61,362
Ramsay Health Care, Ltd. 33,362 1,703,317
Ryman Healthcare, Ltd. 92,564 541,707
Select Medical Holdings Corp. 17,527 259,925
Sonic Healthcare, Ltd. 96,704 1,502,382
Surgical Care Affiliates, Inc. (I) 2,820 96,811
Suzuken Company, Ltd. 18,958 577,859
Team Health Holdings, Inc. (I) 15,603 912,932
Tenet Healthcare Corp. (I) 34,412 1,703,738
The Ensign Group, Inc. 4,963 232,566
The Providence Service Corp. (I) 2,570 136,518
Triple-S Management Corp., Class B (I) 5,556 110,453
UnitedHealth Group, Inc. 329,062 38,924,744
Universal American Corp. (I) 9,683 103,414
Universal Health Services, Inc., Class B 31,409 3,697,153
US Physical Therapy, Inc. 2,775 131,813
VCA, Inc. (I) 38,582 2,115,065
WellCare Health Plans, Inc. (I) 30,403 2,780,658
227,166,294
Health care technology - 0.1%
Allscripts Healthcare Solutions, Inc. (I) 79,755 953,870
Cerner Corp. (I) 105,208 7,707,538

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Health care technology (continued)
Computer Programs & Systems, Inc. (L) 2,561 $ 138,960
HealthStream, Inc. (I) 4,694 118,289
HMS Holdings Corp. (I) 61,176 945,169
M3, Inc. 48,243 1,023,469
MedAssets, Inc. (I) 13,778 259,302
Medidata Solutions, Inc. (I) 12,100 593,384
Merge Healthcare, Inc. (I) 16,499 73,751
Omnicell, Inc. (I) 8,113 284,766
Quality Systems, Inc. 11,429 182,635
Vocera Communications, Inc. (I) 5,749 57,030
12,338,163
Life sciences tools and services - 0.4%
Accelerate Diagnostics, Inc. (I) (L) 5,160 116,100
Affymetrix, Inc. (I) 16,302 204,753
Agilent Technologies, Inc. 115,906 4,815,894
Albany Molecular Research, Inc. (I) 5,307 93,403
Bio-Rad Laboratories, Inc., Class A (I) 9,711 1,312,733
Bio-Techne Corp. 17,453 1,750,361
Cambrex Corp. (I) 6,812 269,960
Charles River
       Laboratories International, Inc. (I) 22,243 1,763,647
Enzo Biochem, Inc. (I) 9,593   28,299
Fluidigm Corp. (I) 6,312 265,735
INC Research Holdings, Inc. (I) 2,055   67,260
Lonza Group AG (I) 13,441 1,673,378
Luminex Corp. (I) 8,523 136,368
Mettler-Toledo International, Inc. (I) 13,220 4,344,753
Pacific Biosciences of California, Inc. (I) (L) 13,112 76,574
PAREXEL International Corp. (I) 12,649 872,655
PerkinElmer, Inc. 38,601 1,974,055
PRA Health Sciences, Inc. (I) 4,408 127,127
QIAGEN NV (I) 57,939 1,453,944
Sequenom, Inc. (I) (L) 26,645 105,248
Thermo Fisher Scientific, Inc. 136,912 18,392,758
Waters Corp. (I) 28,653 3,562,141
43,407,146
Pharmaceuticals - 6.6%
AbbVie, Inc. 549,989 32,196,356
AcelRx Pharmaceuticals, Inc. (I) (L) 6,509 25,125
Actavis PLC (I) 134,740 40,101,319
Aerie Pharmaceuticals, Inc. (I) 2,377 74,495
Akorn, Inc. (I) 48,832 2,320,008
Alimera Sciences, Inc. (I) 7,237 36,257
Amphastar Pharmaceuticals, Inc. (I) 2,230 33,361
Ampio Pharmaceuticals, Inc. (I) (L) 9,635 72,552
ANI Pharmaceuticals, Inc. (I) (L) 1,555 97,265
Aratana Therapeutics, Inc. (I) 6,504 104,129
Astellas Pharma, Inc. 541,847 8,878,101
AstraZeneca PLC 319,002 21,889,423
Bayer AG 208,909 31,256,100
Bio-Path Holdings, Inc. (I) 17,645 31,761
BioDelivery Sciences International, Inc. (I) 9,568 100,464
Bristol-Myers Squibb Company 573,528 36,992,556
Catalent, Inc. (I) 10,921 340,189
Cempra, Inc. (I) 6,685 229,362
Chelsea Therapeutics International, Ltd. (I) (L) 19,199 1,536
Chugai Pharmaceutical Company, Ltd. 56,834 1,793,733
Corcept Therapeutics, Inc. (I) 12,866 72,050
Daiichi Sankyo Company, Ltd. (L) 160,011 2,542,716
Depomed, Inc. (I) 12,960 290,434
Eisai Company, Ltd. 63,368 4,507,228
Eli Lilly & Company 337,398 24,511,965
Endo International PLC (I) 61,253 5,494,394
Endocyte, Inc. (I) (L) 8,758 54,825
Forest Laboratories, Inc. (I) 4,082 0
Furiex Pharmaceuticals, Inc. (I) 1,660 13,512
GlaxoSmithKline PLC 1,227,972 28,267,838
Hisamitsu Pharmaceutical Company, Inc. 14,284 586,661
Horizon Pharma, Inc. (I) 14,550 377,864
Hospira, Inc. (I) 59,159 5,196,527
IGI Laboratories, Inc. (I) (L) 7,202 58,768
Impax Laboratories, Inc. (I) 15,584 730,422
Intersect ENT, Inc. (I) 1,436 37,092
Intra-Cellular Therapies, Inc. (I) 3,901 93,156
Johnson & Johnson 959,411 96,516,747
Kyowa Hakko Kirin Company, Ltd. 58,859 767,216
Lannett Company, Inc. (I) (L) 5,730 387,978
Mallinckrodt PLC (I) 40,199 5,091,203
Merck & Company, Inc. 979,336 56,292,233
Merck KGaA 32,527 3,640,351
Mitsubishi Tanabe Pharma Corp. 56,934 976,724
Mylan NV (I) 128,672 7,636,683
Nektar Therapeutics (I) 28,497 313,467
Novartis AG 581,201 57,364,816
Novo Nordisk A/S, Class B 506,929 27,061,772
Omeros Corp. (I) (L) 8,459 186,352
Ono Pharmaceutical Company, Ltd. 20,683 2,333,951
Orion OYJ, Class B (L) 25,278 712,527
Otsuka Holdings Company, Ltd. 99,215 3,103,807
Pacira Pharmaceuticals, Inc. (I) 7,948 706,180
Pernix Therapeutics Holdings (I) 7,427 79,395
Perrigo Company PLC 48,584 8,043,081
Pfizer, Inc. 2,114,812 73,574,309
Phibro Animal Health Corp., Class A 3,336 118,128
POZEN, Inc. (I) 6,411 49,493
Prestige Brands Holdings, Inc. (I) 11,576 496,495
Relypsa, Inc. (I) 3,789 136,669
Repros Therapeutics, Inc. (I) (L) 5,566 47,812
Revance Therapeutics, Inc. (I) (L) 2,006 41,584
Roche Holding AG 177,513 48,779,155
Sagent Pharmaceuticals, Inc. (I) 4,990 116,018
Salix Pharmaceuticals, Ltd. (I) (L) 31,181 5,388,389
Sanofi 301,763 29,801,811
Santen Pharmaceutical Company, Ltd. 94,490 1,378,213
SciClone Pharmaceuticals, Inc. (I) 11,806 104,601
Shionogi & Company, Ltd. 75,811 2,523,789
Shire PLC 149,056 11,883,198
Sucampo
       Pharmaceuticals, Inc., Class A (I) (L) 4,014 62,458
Sumitomo Dainippon Pharma Company, Ltd. 41,392 490,256
Supernus Pharmaceuticals, Inc. (I) 6,659 80,507
Taisho Pharmaceutical
       Holdings Company, Ltd. 8,116 603,037
Takeda Pharmaceutical Company, Ltd. 199,916 9,979,381
Tetraphase Pharmaceuticals, Inc. (I) 5,816 213,098
Teva Pharmaceutical Industries, Ltd. 217,188 13,573,647
The Medicines Company (I) 14,545 407,551
TherapeuticsMD, Inc. (I) 26,859 162,497
Theravance Biopharma, Inc. (I) 5,252 91,122
Theravance, Inc. (L) 18,526 291,229
Trius Therapeutics, Inc. (I) (L) 10,492 1,154
UCB SA 31,725 2,291,847
VIVUS, Inc. (I) (L) 21,003 51,667
XenoPort, Inc. (I) 13,169 93,763
Zoetis, Inc. 172,809 7,999,329

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Pharmaceuticals (continued)
Zogenix, Inc. (I) (L) 30,815 $ 42,217
ZS Pharma, Inc. (I) 1,596 67,160
731,565,611
1,453,032,504
Industrials - 11.2%
Aerospace and defense - 2.1%
AAR Corp. 8,813 270,559
Aerovironment, Inc. (I) 4,411 116,936
Airbus Group NV 148,639 9,663,151
American Science & Engineering, Inc. 1,765 86,238
Astronics Corp. (I) 4,202 309,687
B/E Aerospace, Inc. 49,803 3,168,467
BAE Systems PLC 797,047 6,176,765
Cobham PLC 289,190 1,302,710
Cubic Corp. 4,578 237,003
Curtiss-Wright Corp. 10,664 788,496
DigitalGlobe, Inc. (I) 16,823 573,160
Ducommun, Inc. (I) 2,620 67,858
Engility Holdings, Inc. 3,944 118,478
Esterline Technologies Corp. (I) 21,653 2,477,536
Exelis, Inc. 87,647   2,135,957
Finmeccanica SpA (I) 102,814 1,221,238
GenCorp, Inc. (I) 13,343   309,424
General Dynamics Corp. 108,737 14,758,873
HEICO Corp. 14,838 906,157
Honeywell International, Inc. 270,067 28,170,689
Huntington Ingalls Industries, Inc. 22,703 3,181,825
KLX, Inc. (I) 24,658 950,319
Kratos Defense & Security Solutions, Inc. (I) 11,107 61,422
L-3 Communications Holdings, Inc. 28,485 3,583,128
LMI Aerospace, Inc. (I) 3,096 37,802
Lockheed Martin Corp. 92,558 18,785,572
Meggitt PLC 204,653 1,663,553
Moog, Inc., Class A (I) 9,148 686,557
National Presto Industries, Inc. 1,142 72,391
Northrop Grumman Corp. 68,463 11,019,804
Orbital ATK, Inc. 27,868 2,135,525
Precision Castparts Corp. 48,911 10,271,310
Raytheon Company 106,041 11,584,979
Rockwell Collins, Inc. 45,871 4,428,845
Rolls-Royce Holdings PLC (I) 475,653 6,708,585
Safran SA 68,336 4,774,743
Singapore Technologies Engineering, Ltd. 394,452 1,000,288
Sparton Corp. (I) 2,449 60,001
TASER International, Inc. (I) 11,990 289,079
Teledyne Technologies, Inc. (I) 24,868 2,654,162
Textron, Inc. 95,513 4,234,091
Thales SA 23,638 1,311,494
The Boeing Company 226,032 33,922,883
The KEYW Holding Corp. (I) (L) 8,169 67,231
Triumph Group, Inc. 23,712 1,416,081
United Technologies Corp. 285,124 33,416,533
Zodiac Aerospace 47,227 1,562,579
232,740,164
Air freight and logistics - 0.5%
Air Transport Services Group, Inc. (I) 11,965 110,317
Atlas Air Worldwide Holdings, Inc. (I) 5,649 243,020
Bollore SA 139,947 745,668
C.H. Robinson Worldwide, Inc. 50,513 3,698,562
Deutsche Post AG 244,227 7,608,865
Echo Global Logistics, Inc. (I) 5,245 142,979
Expeditors International of Washington, Inc. 66,183 3,188,697
FedEx Corp. 90,909 15,040,894
Forward Air Corp. 7,004 380,317
Hub Group, Inc., Class A (I) 8,287 325,596
Park-Ohio Holdings Corp. 1,958 103,128
Royal Mail PLC 165,159 1,071,253
TNT Express NV 111,773 709,960
Toll Holdings, Ltd. 173,112 1,164,707
United Parcel Service, Inc., Class B 239,778 23,244,079
UTi Worldwide, Inc. (I) 20,453 251,572
XPO Logistics, Inc. (I) 11,743 533,954
Yamato Transport Company, Ltd. 87,793 2,023,509
60,587,077
Airlines - 0.5%
Alaska Air Group, Inc. 61,705 4,083,637
Allegiant Travel Company 3,050 586,485
American Airlines Group, Inc. 247,497 13,062,892
ANA Holdings, Inc. 296,495 793,767
Cathay Pacific Airways, Ltd. 290,242 671,622
Delta Air Lines, Inc. 284,434 12,788,153
Deutsche Lufthansa AG 58,491 819,030
easyJet PLC 40,384 1,123,943
Hawaiian Holdings, Inc. (I) 10,068 221,748
International Consolidated
       Airlines Group SA (I) 207,041 1,855,064
Japan Airlines Company, Ltd. 30,400 945,660
JetBlue Airways Corp. (I) 177,852 3,423,651
Qantas Airways, Ltd. (I) 132,052 313,215
Republic Airways Holdings, Inc. (I) 11,288 155,210
Ryanair Holdings PLC, ADR 8,036 536,564
Singapore Airlines, Ltd. 136,427 1,187,807
SkyWest, Inc. 11,676 170,586
Southwest Airlines Company 233,279 10,334,260
Virgin America, Inc. (I) 3,457 105,093
53,178,387
Building products - 0.4%
AAON, Inc. 9,423 231,146
Advanced Drainage Systems, Inc. 3,414 102,215
Allegion PLC 33,605 2,055,618
American Woodmark Corp. (I) 2,742 150,070
AO Smith Corp. 35,282 2,316,616
Apogee Enterprises, Inc. 6,435 277,992
Asahi Glass Company, Ltd. 256,380 1,679,286
Assa Abloy AB, Series B 84,244 5,018,025
Builders FirstSource, Inc. (I) 10,811 72,109
Cie de Saint-Gobain 113,794 4,996,385
Continental Building Products, Inc. (I) 2,740 61,897
Daikin Industries, Ltd. 58,997 3,944,187
Fortune Brands Home & Security, Inc. 74,575 3,540,821
Geberit AG 9,511 3,559,164
Gibraltar Industries, Inc. (I) 7,031 115,379
Griffon Corp. 8,884 154,848
Insteel Industries, Inc. 4,193 90,695
Lennox International, Inc. 19,319 2,157,739
LIXIL Group Corp. 67,550 1,598,623
Masco Corp. 120,591 3,219,780
Masonite International Corp. (I) 6,530 439,208
NCI Building Systems, Inc. (I) 6,340 109,555
Norcraft Cos, Inc. (I) 1,841 47,074
Nortek, Inc. (I) 2,070 182,678
Patrick Industries, Inc. (I) 1,880 117,068
PGT, Inc. (I) 10,916 121,986

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

Shares or      
Principal
Amount Value
COMMON STOCKS (continued)
Building products (continued)
Ply Gem Holdings, Inc. (I) 4,905 $ 63,765
Quanex Building Products Corp. 7,762 153,222
Simpson Manufacturing Company, Inc. 9,214 344,327
TOTO, Ltd. 71,481 1,061,418
Trex Company, Inc. (I) 7,485 408,157
Universal Forest Products, Inc. 4,509 250,159
38,641,212
Commercial services and supplies - 0.6%
ABM Industries, Inc. 12,433 396,115
ACCO Brands Corp. (I) 25,527 212,129
Aggreko PLC 65,064 1,471,779
ARC Document Solutions, Inc. (I) 9,476 87,463
Babcock International Group PLC 63,670 928,809
Brady Corp., Class A 10,766 304,570
Brambles, Ltd. 393,307 3,439,548
Casella Waste Systems, Inc., Class A (I) 9,973 54,852
Ceco Environmental Corp. (L) 5,103 54,143
Cenveo, Inc. (I) 15,744 33,692
Cintas Corp. 33,540 2,737,870
Civeo Corp. 21,907 55,644
Clean Harbors, Inc. (I) 25,197 1,430,686
Copart, Inc. (I) 53,485 2,009,431
Dai Nippon Printing Company, Ltd. 141,746   1,376,798
Deluxe Corp. 34,509   2,390,784
Edenred 51,635 1,288,287
Ennis, Inc. 6,202 87,572
G&K Services, Inc., Class A 4,424 320,873
G4S PLC 394,194 1,727,920
Healthcare Services Group, Inc. 15,693 504,216
Heritage-Crystal Clean, Inc. (I) 2,795 32,702
Herman Miller, Inc. 41,194 1,143,545
HNI Corp. 30,755 1,696,753
InnerWorkings, Inc. (I) 8,668 58,249
Interface, Inc. 14,913 309,892
ISS A/S (I) 30,382 957,636
Kimball International, Inc., Class B 7,870 82,478
Knoll, Inc. 10,852 254,262
Matthews International Corp., Class A 6,589 339,399
McGrath RentCorp. 5,851 192,556
Mobile Mini, Inc. 10,461 446,057
MSA Safety, Inc. 21,398 1,067,332
Multi-Color Corp. 2,793 193,639
Park24 Company, Ltd. 24,100 493,080
Pitney Bowes, Inc. 68,886 1,606,422
Quad/Graphics, Inc. 6,282 144,360
R.R. Donnelley & Sons Company (L) 93,913 1,802,190
Republic Services, Inc. 86,537 3,509,941
Rollins, Inc. 45,223 1,118,365
Secom Company, Ltd. 52,855 3,525,443
Securitas AB, Series B 79,399 1,139,884
Societe BIC SA 7,249 1,031,976
SP Plus Corp. (I) 3,584 78,310
Steelcase, Inc., Class A 18,370 347,928
Stericycle, Inc. (I) 29,302 4,114,880
Team, Inc. (I) 4,619 180,049
Tetra Tech, Inc. 13,708 329,266
The ADT Corp. (L) 59,131 2,455,119
The Brink’s Company 10,862 300,117
Toppan Printing Company, Ltd. 141,525 1,088,658
Tyco International, Ltd. 144,970 6,242,408
UniFirst Corp. 3,259 383,552
United Stationers, Inc. 8,757 358,949
US Ecology, Inc. 4,802 239,956
Viad Corp. 4,613 128,334
Waste Connections, Inc. 58,274 2,805,310
Waste Management, Inc. 147,361 7,991,387
West Corp. 8,487 286,267
69,389,832
Construction and engineering - 0.3%
ACS Actividades de Construccion
       y Servicios SA 44,164 1,563,154
AECOM (I) 73,075 2,252,172
Aegion Corp. (I) 8,670 156,494
Ameresco, Inc., Class A (I) 5,214 38,584
Argan, Inc. 2,876 104,025
Boskalis Westminster NV 21,990 1,083,857
Bouygues SA 42,085 1,652,079
Chiyoda Corp. 38,942 332,666
Comfort Systems USA, Inc. 8,440 177,578
Dycom Industries, Inc. (I) 7,544 368,449
EMCOR Group, Inc. 14,853 690,219
Ferrovial SA 102,909 2,188,058
Fluor Corp. 50,980 2,914,017
Furmanite Corp. (I) 8,888 70,126
Granite Construction, Inc. 25,674 902,184
Great Lakes Dredge & Dock Corp. (I) 13,788 82,866
Jacobs Engineering Group, Inc. (I) 44,065 1,989,975
JGC Corp. 52,206 1,036,681
Kajima Corp. 214,770 995,719
KBR, Inc. 68,067 985,610
Layne Christensen Company (I) (L) 5,224 26,172
Leighton Holdings, Ltd. 25,523 408,972
MasTec, Inc. (I) 14,671 283,150
MYR Group, Inc. (I) 4,788 150,056
Northwest Pipe Company (I) 2,367 54,323
Obayashi Corp. 165,215 1,070,932
Orascom Construction, Ltd. (I) 10,847 144,265
Orion Marine Group, Inc. (I) 6,521 57,776
Primoris Services Corp. 8,716 149,828
Quanta Services, Inc. (I) 72,925 2,080,550
Shimizu Corp. 150,129 1,014,994
Skanska AB, Series B 95,155 2,133,309
Taisei Corp. 260,868 1,472,416
Tutor Perini Corp. (I) 8,243 192,474
Vinci SA 119,467 6,825,591
35,649,321
Electrical equipment - 0.8%
ABB, Ltd. (I) 555,510 11,784,589
Acuity Brands, Inc. 20,384 3,427,773
Alstom SA (I) 54,913 1,689,738
AMETEK, Inc. 83,205 4,371,591
AZZ, Inc. 5,723 266,635
Capstone Turbine Corp. (I) (L) 79,370 51,591
Eaton Corp. PLC 163,791 11,127,961
Emerson Electric Company 236,450 13,387,799
Encore Wire Corp. 4,743 179,665
EnerSys 9,699 623,064
Enphase Energy, Inc. (I) (L) 4,038 53,261
Franklin Electric Company, Inc. 10,621 405,085
FuelCell Energy, Inc. (I) (L) 57,090 71,363
Fuji Electric Company, Ltd. 144,202 680,346
Generac Holdings, Inc. (I) (L) 15,255 742,766
General Cable Corp. 11,070 190,736
Global Power Equipment Group, Inc. 4,487 59,228
GrafTech International, Ltd. (I) 26,629 103,587

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

Shares or      
Principal
Amount Value
COMMON STOCKS (continued)
Electrical equipment (continued)
Hubbell, Inc., Class B 25,299 $ 2,773,276
Legrand SA 66,529 3,603,728
LSI Industries, Inc. 5,472 44,597
Mabuchi Motor Company, Ltd. 12,600 666,564
Mitsubishi Electric Corp. 487,165 5,783,370
Nidec Corp. 54,793 3,637,253
OSRAM Licht AG 22,603 1,118,915
Plug Power, Inc. (I) (L) 37,580 97,332
Polypore International, Inc. (I) 10,016 589,942
Powell Industries, Inc. 2,217 74,868
Power Solutions International, Inc. (I) 1,056 67,890
PowerSecure International, Inc. (I) 5,320 70,011
Prysmian SpA 51,776 1,067,098
Regal-Beloit Corp. 21,013 1,679,359
Rockwell Automation, Inc. 46,774 5,425,316
Schneider Electric SE 132,501 10,311,067
Thermon Group Holdings, Inc. (I) 7,279 175,206
Vestas Wind Systems A/S (I) (L) 56,946 2,347,935
Vicor Corp. (I) 3,680 55,936
88,806,441
Industrial conglomerates - 1.8%  
3M Company 219,023   36,127,844
Carlisle Companies, Inc. 30,634 2,837,627
Danaher Corp. 211,874 17,988,103
General Electric Company 3,472,967 86,164,311
Hopewell Holdings, Ltd. 615 2,308
Hutchison Whampoa, Ltd. 538,431 7,463,109
Keihan Electric Railway Company, Ltd. 130,000 791,158
Keppel Corp., Ltd. 368,645 2,415,377
Koninklijke Philips NV 236,331 6,704,701
NWS Holdings, Ltd. 368,599 613,937
Raven Industries, Inc. 8,352 170,882
Roper Industries, Inc. 34,640 5,958,080
Seibu Holdings Inc (L) 30,500 787,874
Sembcorp Industries, Ltd. 249,122 764,783
Siemens AG 200,238 21,656,573
Smiths Group PLC 100,211 1,657,415
Toshiba Corp. 1,022,280 4,283,417
196,387,499
Machinery - 2.0%
Accuride Corp. (I) 9,434 43,962
Actuant Corp., Class A 13,689 324,977
AGCO Corp. 37,814 1,801,459
Alamo Group, Inc. 1,539 97,157
Albany International Corp., Class A 6,305 250,624
Alfa Laval AB 79,917 1,569,599
Altra Industrial Motion Corp. 6,149 169,958
Amada Company, Ltd. 86,052 828,741
American Railcar Industries, Inc. (L) 2,110 104,930
Andritz AG (L) 18,490 1,103,984
Astec Industries, Inc. 4,210 180,525
Atlas Copco AB, A Shares 169,213 5,478,043
Atlas Copco AB, Series B 99,163 2,928,225
Barnes Group, Inc. 12,047 487,783
Blount International, Inc. (I) 11,006 141,757
Briggs & Stratton Corp. 10,245 210,432
Caterpillar, Inc. 209,145 16,737,874
Chart Industries, Inc. (I) 6,875 241,141
CIRCOR International, Inc. 3,936 215,299
CLARCOR, Inc. 34,650 2,288,979
CNH Industrial NV 240,728 1,972,836
Columbus McKinnon Corp. 4,599 123,897
Commercial Vehicle Group, Inc. (I) 6,931 44,636
Crane Company 22,970 1,433,558
Cummins, Inc. 58,114 8,056,925
Deere & Company 117,105 10,268,937
Donaldson Company, Inc. 59,685 2,250,721
Douglas Dynamics, Inc. 5,076 115,936
Dover Corp. 56,276 3,889,797
Dynamic Materials Corp. 3,781 48,283
Energy Recovery, Inc. (I) (L) 9,998 25,895
EnPro Industries, Inc. 5,080 335,026
ESCO Technologies, Inc. 5,851 228,072
FANUC Corp. 48,518 10,592,145
Federal Signal Corp. 13,912 219,670
Flowserve Corp. 46,477 2,625,486
FreightCar America, Inc. 2,776 87,250
GEA Group AG 46,458 2,233,300
Global Brass & Copper Holdings, Inc. 4,969 76,771
Graco, Inc. 27,727 2,000,780
Graham Corp. 2,427 58,175
Harsco Corp. 55,823 963,505
Hillenbrand, Inc. 13,964 431,069
Hino Motors, Ltd. 65,642 933,995
Hitachi Construction
       Machinery Company, Ltd. 27,952 487,933
Hurco Companies, Inc. 1,551 51,074
Hyster-Yale Materials Handling, Inc. 2,289 167,761
IDEX Corp. 36,769 2,788,193
IHI Corp. 353,765 1,654,109
Illinois Tool Works, Inc. 120,447 11,700,222
IMI PLC 68,936 1,300,841
Ingersoll-Rand PLC 90,887 6,187,587
ITT Corp. 42,770 1,706,951
John Bean Technologies Corp. 6,411 229,001
Joy Global, Inc. 34,122 1,336,900
JTEKT Corp. 52,093 812,205
Kadant, Inc. 2,533 133,261
Kawasaki Heavy Industries, Ltd. 361,204 1,822,282
Kennametal, Inc. 37,207 1,253,504
Komatsu, Ltd. 236,976 4,645,363
Kone OYJ, Class B (L) 78,756 3,492,065
Kubota Corp. 283,952 4,486,131
Kurita Water Industries, Ltd. 25,627 619,127
LB Foster Company, Class A 2,343 111,246
Lincoln Electric Holdings, Inc. 36,510 2,387,389
Lindsay Corp. (L) 2,655 202,444
Lydall, Inc. (I) 3,816 121,044
Makita Corp. 30,226 1,566,320
MAN SE 8,944 941,526
Manitex International, Inc. (I) (L) 3,420 33,277
Melrose Industries PLC 270,819 1,112,286
Meritor, Inc. (I) 21,773 274,558
Metso OYJ (L) 28,647 836,972
Miller Industries, Inc. 2,792 68,404
Minebea Company, Ltd. 80,000 1,258,275
Mitsubishi Heavy Industries, Ltd. 770,635 4,240,244
Mueller Industries, Inc. 12,497 451,517
Mueller Water Products, Inc., Class A 35,659 351,241
Nabtesco Corp. 29,289 846,136
NGK Insulators, Ltd. 66,461 1,416,054
NN, Inc. 4,004 100,420
Nordson Corp. 26,919 2,108,834
NSK, Ltd. 118,498 1,729,546
Oshkosh Corp. 36,726 1,791,862

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

Shares or      
Principal
Amount Value
COMMON STOCKS (continued)
Machinery (continued)
PACCAR, Inc. 122,352 $ 7,725,305
Pall Corp. 36,794 3,693,750
Parker Hannifin Corp. 49,148 5,837,799
Pentair PLC 62,945 3,958,611
Proto Labs, Inc. (I) 5,029 352,030
RBC Bearings, Inc. 5,177 396,248
Rexnord Corp. (I) 16,754 447,164
Sandvik AB 267,943 3,000,436
Schindler Holding AG,
       Participation Certificates 11,200 1,858,771
Schindler Holding AG, Registered Shares 5,124 837,284
SembCorp Marine, Ltd. (L) 213,732 453,649
SKF AB, B Shares 100,593 2,597,411
SMC Corp. 13,647 4,063,583
Snap-on, Inc. 20,059 2,949,877
SPX Corp. 19,263 1,635,429
Standex International Corp. 2,787 228,896
Stanley Black & Decker, Inc. 54,311   5,179,097
Sulzer AG 6,089 668,376
Sumitomo Heavy Industries, Ltd. 140,306 918,205
Sun Hydraulics Corp. 4,995 206,593
Tennant Company 4,074 266,317
Terex Corp. 49,915 1,327,240
The ExOne Company (I) (L) 2,371 32,364
The Gorman-Rupp Company 4,259 127,557
The Greenbrier Companies, Inc. (L) 6,147   356,526
The Timken Company 35,014 1,475,490
The Weir Group PLC 54,216 1,368,064
THK Company, Ltd. 29,052 738,234
Titan International, Inc. (L) 10,326 96,651
TriMas Corp. (I) 10,112 311,348
Trinity Industries, Inc. 73,165 2,598,089
Twin Disc, Inc. 2,235 39,492
Vallourec SA 27,672 675,404
Valmont Industries, Inc. (L) 11,278 1,385,841
Volvo AB, Series B 386,799 4,681,128
Wabash National Corp. (I) 15,428 217,535
Wabtec Corp. 45,282 4,302,243
Wartsila OYJ Abp 37,594 1,662,799
Watts Water Technologies, Inc., Class A 6,294 346,359
Woodward, Inc. 41,905 2,137,574
Xerium Technologies, Inc. (I) 2,742 44,475
Xylem, Inc. 63,477 2,222,965
Yangzijiang Shipbuilding Holdings, Ltd. 464,401 426,964
Zardoya Otis SA 43,104 556,311
225,451,703
Marine - 0.1%
A.P. Moeller - Maersk A/S, Series A (L) 977 1,983,941
A.P. Moeller - Maersk A/S, Series B (L) 1,797 3,756,137
Kirby Corp. (I) 26,181 1,964,884
Knightsbridge Tankers, Ltd. (L) 8,069 40,345
Kuehne & Nagel International AG 13,726 2,037,919
Matson, Inc. 9,556 402,881
Mitsui O.S.K. Lines, Ltd. 275,040 932,848
Navios Maritime Holdings, Inc. (L) 18,321 76,582
Nippon Yusen KK 410,257 1,180,199
Safe Bulkers, Inc. (L) 9,445 33,908
Scorpio Bulkers, Inc. (I) (L) 31,290 74,157
12,483,801
Professional services - 0.4%
Acacia Research Corp. 11,435 122,355
Adecco SA (I) 42,696 3,549,038
ALS, Ltd. 101,067 379,621
Barrett Business Services, Inc. 1,666 71,371
Bureau Veritas SA 56,141 1,204,491
Capita PLC 167,894 2,775,420
CBIZ, Inc. (I) 9,625 89,801
CDI Corp. 3,384 47,545
CRA International, Inc. (I) 2,269 70,611
Equifax, Inc. 41,244 3,835,692
Experian PLC 249,431 4,128,833
Exponent, Inc. 2,893 257,188
Franklin Covey Company (I) 2,701 52,021
FTI Consulting, Inc. (I) 28,494 1,067,385
GP Strategies Corp. (I) 2,992 110,704
Heidrick & Struggles International, Inc. 4,239 104,195
Huron Consulting Group, Inc. (I) 5,253 347,486
ICF International, Inc. (I) 4,449 181,742
Insperity, Inc. 5,021 262,548
Intertek Group PLC 40,992 1,518,375
Kelly Services, Inc., Class A 6,260 109,174
Kforce, Inc. 5,630 125,605
Korn/Ferry International 11,111 365,219
ManpowerGroup, Inc. 36,803 3,170,578
Mistras Group, Inc. (I) 3,781 72,822
Navigant Consulting, Inc. (I) 11,107 143,947
Nielsen NV 108,904 4,853,851
On Assignment, Inc. (I) 12,161 466,618
Paylocity Holding Corp. (I) 1,811 51,867
Pendrell Corp. (I) 38,314 49,808
Randstad Holding NV 32,016 1,940,807
Recruit Holdings Company, Ltd. (I) 35,500 1,107,651
Resources Connection, Inc. 8,754 153,195
Robert Half International, Inc. 46,671 2,824,529
RPX Corp. (I) 11,910 171,385
Seek, Ltd. 82,172 1,065,420
SGS SA 1,374 2,619,691
The Advisory Board Company (I) 9,371 499,287
The Corporate Executive Board Company 23,279 1,859,061
The Dun & Bradstreet Corp. 12,364 1,587,043
Towers Watson & Company, Class A 32,698 4,322,185
TriNet Group, Inc. (I) 3,474 122,389
TrueBlue, Inc. (I) 9,266 225,627
VSE Corp. 943 77,213
WageWorks, Inc. (I) 7,838 418,001
48,579,395
Road and rail - 1.0%
ArcBest Corp. 5,882 222,869
Asciano, Ltd. 247,894 1,192,117
Aurizon Holdings, Ltd. 534,730 1,968,189
Celadon Group, Inc. 4,769 129,812
Central Japan Railway Company, Ltd. 36,332 6,565,900
ComfortDelGro Corp., Ltd. 513,518 1,081,785
Con-way, Inc. 27,063 1,194,290
CSX Corp. 341,817 11,320,979
DSV A/S 44,949 1,396,961
East Japan Railway Company 84,740 6,790,553
Genesee & Wyoming, Inc., Class A (I) 24,100 2,324,204
Hankyu Hanshin Holdings, Inc. 290,095 1,792,034
Heartland Express, Inc. 12,115 287,852
J.B. Hunt Transport Services, Inc. 43,262 3,694,358
Kansas City Southern 38,106 3,889,860
Keikyu Corp. 118,559 947,662
Keio Corp. 147,077 1,151,914
Keisei Electric Railway Company, Ltd. 69,989 868,665

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Road and rail (continued)
Kintetsu Corp. 459,745 $ 1,686,751
Knight Transportation, Inc. 13,179 425,023
Landstar System, Inc. 21,053 1,395,814
Marten Transport, Ltd. 5,452 126,486
MTR Corp., Ltd. 368,315 1,751,819
Nagoya Railroad Company, Ltd. 215,000 858,512
Nippon Express Company, Ltd. 215,469 1,203,893
Norfolk Southern Corp. 106,081 10,917,857
Odakyu Electric Railway Company, Ltd. 158,759 1,616,949
Old Dominion Freight Line, Inc. (I) 31,905 2,466,257
P.A.M. Transportation Services, Inc. (I) 706 40,433
Patriot Transportation Holding, Inc. (I) 622 15,531
Quality Distribution, Inc. (I) 6,725 69,469
Roadrunner Transportation Systems, Inc. (I) 6,366 160,869
Ryder Systems, Inc. 18,293 1,735,823
Saia, Inc. (I) 5,542 245,511
Swift Transportation Company (I) 18,955 493,209
Tobu Railway Company, Ltd. 258,365 1,224,060
Tokyu Corp. 283,417 1,753,438
Union Pacific Corp. 304,082 32,935,121
USA Truck, Inc. (I) 1,506 41,701
Werner Enterprises, Inc. 30,859 969,281
West Japan Railway Company 41,775 2,190,279
YRC Worldwide, Inc. (I) 7,177 128,899
111,272,989
Trading companies and distributors - 0.5%
Aircastle, Ltd. 14,343 322,144
Applied Industrial Technologies, Inc. 9,228 418,398
Ashtead Group PLC 126,505 2,028,859
Beacon Roofing Supply, Inc. (I) 11,056 346,053
Brenntag AG 39,243 2,344,555
Bunzl PLC 84,840 2,300,136
CAI International, Inc. (I) 3,854 94,693
DXP Enterprises, Inc. (I) 2,979 131,344
Fastenal Company (L) 93,858 3,889,006
GATX Corp. 20,821 1,207,202
H&E Equipment Services, Inc. 6,981 174,455
Houston Wire & Cable Company 4,903 47,706
ITOCHU Corp. 399,066 4,318,640
Kaman Corp. 6,045 256,489
Marubeni Corp. 413,788 2,392,312
Mitsubishi Corp. 348,006 6,992,775
Mitsui & Company, Ltd. 430,380 5,763,724
MSC Industrial Direct Company, Inc., Class A 23,846 1,721,681
Noble Group, Ltd. 1,089,666 729,899
NOW, Inc. (I) (L) 50,322 1,088,968
Rexel SA 70,388 1,327,220
Rush Enterprises, Inc., Class A (I) 7,729 211,465
Sojitz Corp. 1,051 1,757
Stock Building Supply Holdings, Inc. (I) 3,547 64,059
Sumitomo Corp. 282,766 3,017,386
TAL International Group, Inc. (I) 7,636 311,014
Textainer Group Holdings, Ltd. (L) 4,778 143,292
Titan Machinery, Inc. (I) (L) 4,099 54,722
Toyota Tsusho Corp. 53,859 1,424,979
Travis Perkins PLC 62,739 1,811,466
United Rentals, Inc. (I) 33,313 3,036,813
W.W. Grainger, Inc. 20,704 4,882,210
Watsco, Inc. 18,514 2,327,210
Wolseley PLC 65,931 3,896,816
59,079,448
Transportation infrastructure - 0.2%
Abertis Infraestructuras SA 101,185 1,828,874
Aena SA (I) (S) 15,198 1,528,108
Aeroports de Paris 7,536 900,734
Atlantia SpA 103,728 2,723,933
Auckland International Airport, Ltd. 243,607 818,252
Fraport AG Frankfurt Airport
       Services Worldwide 9,401 561,539
Groupe Eurotunnel SA 118,737 1,702,218
Hopewell Highway Infrastructure, Ltd. 30 14
Hutchison Port Holdings Trust 1,438,336 998,428
Kamigumi Company, Ltd. 57,412 541,978
Mitsubishi Logistics Corp. 31,472 489,807
Sydney Airport 276,102 1,086,510
Transurban Group 458,052 3,316,696
Wesco Aircraft Holdings, Inc. (I) 11,757 180,117
16,677,208
1,248,924,477
Information technology - 14.5%
Communications equipment - 1.2%
ADTRAN, Inc. 12,670 236,549
Alcatel-Lucent (I) 706,485 2,656,001
Alliance Fiber Optic Products, Inc. 2,919 50,849
Applied Optoelectronics, Inc. (I) (L) 3,504 48,636
ARRIS Group, Inc. (I) 62,086 1,793,975
Aruba Networks, Inc. (I) 23,832 583,646
Bel Fuse, Inc., Class B 2,438 46,395
Black Box Corp. 3,574 74,804
CalAmp Corp. (I) 7,969 129,018
Calix, Inc. (I) 9,524 79,906
Ciena Corp. (I) 74,385 1,436,374
Cisco Systems, Inc. 1,761,464 48,484,297
Clearfield, Inc. (I) (L) 2,902 43,008
Comtech Telecommunications Corp. 3,458 100,109
Digi International, Inc. (I) 5,758 57,465
Emulex Corp. (I) 15,998 127,504
Extreme Networks, Inc. (I) 22,494 71,081
F5 Networks, Inc. (I) 24,903 2,862,351
Finisar Corp. (I) 23,084 492,613
Harmonic, Inc. (I) 19,927 147,659
Harris Corp. 35,980 2,833,785
Infinera Corp. (I) 27,275 536,499
InterDigital, Inc. 25,708 1,304,424
Ixia (I) 13,086 158,733
JDS Uniphase Corp. (I) 109,363 1,434,843
Juniper Networks, Inc. 125,037 2,823,335
KVH Industries, Inc. (I) 4,149 62,733
Motorola Solutions, Inc. 65,826 4,388,619
NETGEAR, Inc. (I) 7,699 253,143
Nokia OYJ 946,502 7,216,846
Numerex Corp., Class A (I) 3,589 40,915
Oclaro, Inc. (I) (L) 22,105 43,768
Plantronics, Inc. 29,631 1,568,961
Polycom, Inc. (I) 93,924 1,258,582
Procera Networks, Inc. (I) (L) 5,075 47,654
QUALCOMM, Inc. 569,210 39,469,021
Riverbed Technology, Inc. (I) 72,903   1,524,402
Ruckus Wireless, Inc. (I) 14,572 187,542
ShoreTel, Inc. (I) 14,564 99,326
Sonus Networks, Inc. (I) 10,754 84,742
Telefonaktiebolaget LM Ericsson, B Shares 769,214   9,657,432
TESSCO Technologies, Inc. 1,495 36,867
Ubiquiti Networks, Inc. (L) 6,680 197,394

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

Shares or      
Principal
Amount Value
COMMON STOCKS (continued)
Communications equipment (continued)
ViaSat, Inc. (I) 9,217 $ 549,425
135,301,231
Electronic equipment, instruments and components - 1.0%
Agilysys, Inc. (I) 3,987 39,232
Amphenol Corp., Class A 107,080 6,310,224
Anixter International, Inc. (I) 6,016 457,998
Arrow Electronics, Inc. (I) 44,953 2,748,876
Avnet, Inc. 64,097 2,852,317
Badger Meter, Inc. 3,198 191,688
Belden, Inc. 29,652 2,774,241
Benchmark Electronics, Inc. (I) 11,817 283,963
Checkpoint Systems, Inc. 9,329 100,940
Citizen Holdings Company, Ltd. 67,941 520,730
Cognex Corp. (I) 59,993 2,975,053
Coherent, Inc. (I) 5,552 360,658
Control4 Corp. (I) (L) 2,648 31,723
Corning, Inc. 438,772 9,951,349
CTS Corp. 7,724 138,955
CUI Global, Inc. (I) 5,438 31,867
Daktronics, Inc. 8,719     94,252
DTS, Inc. (I) 3,840 130,829
Electro Rent Corp. 3,969 45,008
Electro Scientific Industries, Inc. 6,908 42,691
Fabrinet (I) 7,855 149,166
FARO Technologies, Inc. (I) 3,858 239,698
FEI Company 29,059 2,218,364
FLIR Systems, Inc. 47,659 1,490,774
GSI Group, Inc. (I) 6,987 93,067
Hamamatsu Photonics KK 36,030 1,086,022
Hexagon AB, B Shares 64,744 2,298,740
Hirose Electric Company, Ltd. 7,948 1,023,309
Hitachi High-Technologies Corp. 15,184 462,085
Hitachi, Ltd. 1,219,972 8,332,229
Hoya Corp. 107,860 4,318,101
Ibiden Company, Ltd. 31,186 525,722
II-VI, Inc. (I) 11,717 216,296
Ingram Micro, Inc., Class A (I) 73,435 1,844,687
Insight Enterprises, Inc. (I) 9,148 260,901
InvenSense, Inc. (I) (L) 15,955 242,676
IPG Photonics Corp. (I) (L) 16,738 1,551,613
Itron, Inc. (I) 26,811 978,870
Jabil Circuit, Inc. 90,816 2,123,278
Japan Display, Inc. (I) 90,200 321,819
KEMET Corp. (I) 10,977 45,445
Keyence Corp. 11,547 6,301,160
Keysight Technologies, Inc. (I) 79,173 2,941,277
Kimball Electronics, Inc. (I) 5,827 82,394
Knowles Corp. (I) (L) 39,983 770,472
Kyocera Corp. 80,763 4,413,918
Littelfuse, Inc. 5,005 497,447
Maxwell Technologies, Inc. (I) (L) 7,106 57,274
Mercury Systems, Inc. (I) 7,481 116,330
Mesa Laboratories, Inc. 672 48,518
Methode Electronics, Inc. 8,419 396,030
MTS Systems Corp. 3,347 253,201
Multi-Fineline Electronix, Inc. (I) 2,138 39,061
Murata Manufacturing Company, Ltd. 51,413 7,061,017
National Instruments Corp. 47,578 1,524,399
Newport Corp. (I) 8,939 170,377
Nippon Electric Glass Company, Ltd. 98,121 479,535
Omron Corp. 51,918 2,338,862
OSI Systems, Inc. (I) 4,439 329,640
Park Electrochemical Corp. 4,810 103,704
PC Connection, Inc. 2,204 57,502
Plexus Corp. (I) 7,587 309,322
RealD, Inc. (I) 9,270 118,563
Rofin-Sinar Technologies, Inc. (I) 6,300 152,649
Rogers Corp. (I) 4,017 330,238
Sanmina Corp. (I) 18,273 442,024
ScanSource, Inc. (I) 6,329 257,274
Shimadzu Corp. 58,492 651,420
SYNNEX Corp. 6,271 484,435
TDK Corp. 31,221 2,210,680
TE Connectivity, Ltd. 140,181 10,039,763
Tech Data Corp. (I) 17,980 1,038,705
Trimble Navigation, Ltd. (I) 121,815 3,069,738
TTM Technologies, Inc. (I) 12,292 110,751
Universal Display Corp. (I) (L) 9,070 424,023
Vishay Intertechnology, Inc. 63,810 881,854
Vishay Precision Group, Inc. (I) 3,111 49,558
Yaskawa Electric Corp. 57,510 840,465
Yokogawa Electric Corp. 55,292 595,690
Zebra Technologies Corp., Class A (I) 23,934 2,171,173
112,065,899
Internet software and services - 2.1%
Actua Corp. (I) 9,471 146,706
Akamai Technologies, Inc. (I) 61,705 4,383,832
Angie’s List, Inc. (I) (L) 9,819 57,638
AOL, Inc. (I) 36,855 1,459,827
Bankrate, Inc. (I) 15,206 172,436
Bazaarvoice, Inc. (I) (L) 11,934 67,427
Benefitfocus, Inc. (I) 1,195 43,964
Blucora, Inc. (I) 9,668 132,065
Brightcove, Inc. (I) 7,616 55,825
Carbonite, Inc. (I) 4,070 58,201
ChannelAdvisor Corp. (I) 4,970 48,159
Cimpress NV (I) 7,397 624,159
comScore, Inc. (I) 7,775 398,080
Constant Contact, Inc. (I) 7,001 267,508
Cornerstone OnDemand, Inc. (I) 12,004 346,796
Coupons.com, Inc. (I) (L) 2,799 32,860
Cvent, Inc. (I) (L) 4,168 116,871
Dealertrack Technologies, Inc. (I) 12,026 463,242
Demandware, Inc. (I) 6,746 410,831
Dice Holdings, Inc. (I) 8,718 77,765
EarthLink Holdings Corp. 24,041 106,742
eBay, Inc. (I) 379,965 21,916,381
Endurance International
       Group Holdings, Inc. (I) (L) 6,739 128,445
Envestnet, Inc. (I) 7,619 427,274
Equinix, Inc. 19,490 4,538,247
Facebook, Inc., Class A (I) 724,369 59,553,997
Gogo, Inc. (I) (L) 12,686 241,795
Google, Inc., Class A (I) 98,534 54,656,810
Google, Inc., Class C (I) 98,743 54,111,164
GrubHub, Inc. (I) 2,046 92,868
GTT Communications, Inc. (I) 3,742 70,649
Internap Corp. (I) 12,688 129,798
IntraLinks Holdings, Inc. (I) 8,813 91,126
j2 Global, Inc. 10,614 697,128
Kakaku.com, Inc. 37,400 620,605
Limelight Networks, Inc. (I) 14,364 52,141
Liquidity Services, Inc. (I) 5,845 57,749
LivePerson, Inc. (I) 12,076 123,598
LogMeIn, Inc. (I) 5,423 303,634

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (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)
Marchex, Inc., Class B 8,172 $ 33,342
Marin Software, Inc. (I) 6,225 39,155
Marketo, Inc. (I) 5,850 149,877
Millennial Media, Inc. (I) (L) 20,107 29,155
Mixi, Inc. (L) 9,300 375,944
Monster Worldwide, Inc. (I) 20,741 131,498
NIC, Inc. 14,861 262,594
OPOWER, Inc. (I) 2,031   20,574
Perficient, Inc. (I) 7,894 163,327
Q2 Holdings, Inc. (I) 2,391 50,546
QuinStreet, Inc. (I) 8,375 49,831
Rackspace Hosting, Inc. (I) 55,195   2,847,510
RealNetworks, Inc. (I) 6,680 44,956
Reis, Inc. 2,025 51,921
RetailMeNot, Inc. (I) 7,035 126,700
Rocket Fuel, Inc. (I) (L) 4,698 43,222
SciQuest, Inc. (I) 6,443 109,080
Shutterstock, Inc. (I) 3,430 235,538
SPS Commerce, Inc. (I) 3,644 244,512
Stamps.com, Inc. (I) 3,185 214,319
TechTarget, Inc. (I) 3,997 46,085
Textura Corp. (I) 4,269 116,031
TrueCar, Inc. (I) 1,778 31,737
United Internet AG 31,267 1,419,184
VeriSign, Inc. (I) (L) 36,319 2,432,283
Web.com Group, Inc. (I) 11,763 222,909
WebMD Health Corp. (I) 8,723 382,373
Wix.com, Ltd. (I) (L) 3,266 62,577
XO Group, Inc. (I) 6,136 108,423
Xoom Corp. (I) (L) 7,049 103,550
Yahoo Japan Corp. 361,854 1,492,534
Yahoo!, Inc. (I) 300,419 13,349,118
232,274,748
IT services - 2.4%
Accenture PLC, Class A 216,729 20,305,340
Acxiom Corp. (I) 53,726 993,394
Alliance Data Systems Corp. (I) 21,670 6,419,738
Amadeus IT Holding SA, A Shares 113,168 4,850,051
AtoS 20,128 1,385,534
Automatic Data Processing, Inc. 163,964 14,041,877
Blackhawk Network Holdings, Inc. (I) (L) 11,748 420,226
Broadridge Financial Solutions, Inc. 56,806 3,124,898
CACI International, Inc., Class A (I) 5,191 466,775
Cap Gemini SA 36,007 2,954,071
Cardtronics, Inc. (I) 9,973 374,985
Cass Information Systems, Inc. 2,624 147,311
Ciber, Inc. (I) 18,125 74,675
Cognizant Technology
       Solutions Corp., Class A (I) 210,350 13,123,737
Computer Sciences Corp. 48,638 3,175,089
Computer Task Group, Inc. 4,159 30,402
Computershare, Ltd. 120,141 1,161,263
Convergys Corp. 69,067 1,579,562
CoreLogic, Inc. (I) 42,202 1,488,465
CSG Systems International, Inc. 7,578 230,295
Datalink Corp. (I) 4,773 57,467
DST Systems, Inc. 13,428 1,486,614
EPAM Systems, Inc. (I) 7,935 486,336
Euronet Worldwide, Inc. (I) 11,346 666,578
EVERTEC, Inc. 14,675 320,796
ExlService Holdings, Inc. (I) 7,271 270,481
Fidelity National Information Services, Inc. 98,382 6,695,879
Fiserv, Inc. (I) 82,358 6,539,225
Forrester Research, Inc. 2,512 92,391
Fujitsu, Ltd. 468,232 3,193,172
Gartner, Inc. (I) 41,136 3,449,254
Global Cash Access Holdings, Inc. (I) 15,020 114,452
Global Payments, Inc. 31,519 2,889,662
Heartland Payment Systems, Inc. 7,975 373,629
Higher One Holdings, Inc. (I) 8,182 19,800
IBM Corp. 317,185 50,908,193
iGATE Corp. (I) 8,228 351,006
Itochu Techno-Solutions Corp. 12,232 253,744
Jack Henry & Associates, Inc. 38,435 2,686,222
Leidos Holdings, Inc. 29,242 1,226,994
Lionbridge Technologies, Inc. (I) 15,305 87,545
Luxoft Holding, Inc. (I) 1,754 90,752
ManTech International Corp., Class A 5,326 180,764
MasterCard, Inc., Class A 336,842 29,099,780
MAXIMUS, Inc. 45,964 3,068,557
ModusLink Global Solutions, Inc. (I) 10,007 38,527
MoneyGram International, Inc. (I) 7,295 63,029
NeuStar, Inc., Class A (I) (L) 38,701 952,819
Nomura Research Institute, Ltd. 28,610 1,074,884
NTT Data Corp. 32,062 1,392,531
Otsuka Corp. 12,200 519,905
Paychex, Inc. 112,809 5,597,019
PRGX Global, Inc. (I) 7,348 29,539
Science Applications International Corp. 27,211 1,397,285
ServiceSource International, Inc. (I) 16,506 51,169
Sykes Enterprises, Inc. (I) 8,781 218,208
Syntel, Inc. (I) 6,863 355,023
TeleTech Holdings, Inc. 4,054 103,174
Teradata Corp. (I) 50,099 2,211,370
The Hackett Group, Inc. 6,001 53,649
The Western Union Company 180,056 3,746,965
Total System Services, Inc. 56,866 2,169,438
Unisys Corp. (I) 11,495 266,799
VeriFone Systems, Inc. (I) 53,459 1,865,185
Virtusa Corp. (I) 5,805 240,211
Visa, Inc., Class A 684,667 44,784,068
WEX, Inc. (I) 26,840 2,881,542
Xerox Corp. 360,940 4,638,079
265,607,399
Semiconductors and semiconductor equipment - 2.0%
Advanced Energy Industries, Inc. (I) 9,198 236,021
Advanced Micro Devices, Inc. (I) (L) 295,921 793,068
Advantest Corp. (L) 38,781 488,929
Alpha & Omega Semiconductor, Ltd. (I) 5,349 47,660
Altera Corp. 103,859 4,456,590
Ambarella, Inc. (I) (L) 6,400 484,544
Amkor Technology, Inc. (I) 19,065 168,439
Analog Devices, Inc. 107,583 6,777,729
Applied Materials, Inc. 424,006 9,565,575
Applied Micro Circuits Corp. (I) 18,371 93,692
ARM Holdings PLC 354,518 5,757,824
ASM Pacific Technology, Ltd. 61,368 638,754
ASML Holding NV 88,515 8,973,609
Atmel Corp. 195,640 1,610,117
Avago Technologies, Ltd. 88,547 11,243,698
Axcelis Technologies, Inc. (I) 24,991 59,479
Broadcom Corp., Class A 188,108 8,144,136
Brooks Automation, Inc. 15,000 174,450
Cabot Microelectronics Corp. (I) 5,321 265,890
Cascade Microtech, Inc. (I) 3,016 40,957
Cavium, Inc. (I) 11,751 832,206

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (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)
CEVA, Inc. (I) 4,856 $ 103,530
Cirrus Logic, Inc. (I) 13,768 457,924
Cohu, Inc. 5,870 64,218
Cree, Inc. (I) (L) 52,467 1,862,054
Cypress Semiconductor Corp. (I) 217,566 3,069,851
Diodes, Inc. (I) 8,076 230,651
DSP Group, Inc. (I) 5,211 62,428
Entegris, Inc. (I) 31,074 425,403
Entropic Communications, Inc. (I) 21,277 62,980
Exar Corp. (I) 9,177   92,229
Fairchild Semiconductor International, Inc. (I) 82,802 1,505,340
First Solar, Inc. (I) 25,880 1,547,365
FormFactor, Inc. (I) 12,905 114,467
Infineon Technologies AG 283,454 3,372,232
Inphi Corp. (I) 7,013   125,042
Integrated Device Technology, Inc. (I) 99,262 1,987,225
Integrated Silicon Solution, Inc. 6,867 122,851
Intel Corp. 1,634,187 51,101,027
Intersil Corp., Class A 90,073 1,289,845
IXYS Corp. 5,849 72,060
KLA-Tencor Corp. 56,162 3,273,683
Kopin Corp. (I) 16,844 59,291
Lam Research Corp. 54,989 3,862,152
Lattice Semiconductor Corp. (I) 26,434 167,592
Linear Technology Corp. 82,439 3,858,145
M/A-COM Technology
       Solutions Holdings, Inc. (I) 2,958 110,215
MaxLinear, Inc., Class A (I) 6,622 53,837
Micrel, Inc. 9,959 150,182
Microchip Technology, Inc. (L) 69,559 3,401,435
Micron Technology, Inc. (I) 371,743 10,085,388
Microsemi Corp. (I) 21,111 747,329
MKS Instruments, Inc. 11,896 402,204
Monolithic Power Systems, Inc. 8,587 452,106
Nanometrics, Inc. (I) 5,498 92,476
NVE Corp. 1,208 83,255
NVIDIA Corp. 178,233 3,729,526
OmniVision Technologies, Inc. (I) 12,457 328,491
PDF Solutions, Inc. (I) 6,946 124,472
Pericom Semiconductor Corp. 5,080 78,588
Photronics, Inc. (I) 15,099 128,342
PMC-Sierra, Inc. (I) 38,640 358,579
Power Integrations, Inc. 6,805 354,404
Qorvo Inc. (I) 101,637 8,100,469
Rambus, Inc. (I) 25,498 320,637
REC Silicon ASA (I) 50 15
Rohm Company, Ltd. 24,442 1,670,191
Rudolph Technologies, Inc. (I) 7,684 84,678
Semtech Corp. (I) 46,393 1,236,141
Silicon Laboratories, Inc. (I) 28,104 1,426,840
Skyworks Solutions, Inc. 65,788 6,466,303
STMicroelectronics NV 161,699 1,506,877
SunEdison, Inc. (I) (L) 118,441 2,842,584
Synaptics, Inc. (I) 7,992 649,790
Teradyne, Inc. 102,360 1,929,486
Tessera Technologies, Inc. 11,825 476,311
Texas Instruments, Inc. 361,335 20,662,942
Tokyo Electron, Ltd. 43,160 2,993,737
Ultra Clean Holdings, Inc. (I) 7,054 50,436
Ultratech, Inc. (I) 6,378 110,595
Veeco Instruments, Inc. (I) 9,027 275,775
Vitesse Semiconductor Corp. (I) 12,630 67,065
Xcerra Corp. (I) 12,173 108,218
Xilinx, Inc. 90,236 3,816,983
215,219,854
Software - 2.8%
ACI Worldwide, Inc. (I) 79,953 1,731,782
Adobe Systems, Inc. (I) 164,208 12,141,540
Advent Software, Inc. 32,634 1,439,486
American Software, Inc., Class A 6,397 65,377
ANSYS, Inc. (I) 42,312 3,731,495
Aspen Technology, Inc. (I) 20,556 791,200
Autodesk, Inc. (I) 78,238 4,587,876
AVG Technologies NV (I) 7,679 166,250
Barracuda Networks, Inc. (I) 1,758 67,630
Blackbaud, Inc. 10,323 489,104
Bottomline Technologies, Inc. (I) 8,918 244,086
BroadSoft, Inc. (I) 6,430 215,148
CA, Inc. 110,106 3,590,557
Cadence Design Systems, Inc. (I) 137,394 2,533,545
Callidus Software, Inc. (I) 10,888 138,060
CDK Global, Inc. 75,621 3,536,038
Citrix Systems, Inc. (I) 55,163 3,523,261
COLOPL, Inc. (L) 12,300 265,147
CommVault Systems, Inc. (I) 30,390 1,328,043
Comverse, Inc. (I) 5,328 104,962
Dassault Systemes SA 32,139 2,174,987
Digimarc Corp. (L) 1,705 37,425
Ebix, Inc. 6,822 207,252
Electronic Arts, Inc. (I) 107,303 6,311,026
Ellie Mae, Inc. (I) 6,228 344,471
EnerNOC, Inc. (I) 6,180 70,452
Epiq Systems, Inc. 7,033 126,102
ePlus, Inc. (I) 1,144 99,448
FactSet Research Systems, Inc. 18,230 2,902,216
Fair Isaac Corp. 21,888 1,941,903
Fleetmatics Group PLC (I) 8,331 373,645
Fortinet, Inc. (I) 66,669 2,330,082
Gemalto NV (L) 20,122 1,603,288
Gigamon, Inc. (I) 5,481 116,416
Globant SA (I) 1,660 34,960
Glu Mobile, Inc. (I) (L) 20,546 102,935
Guidewire Software, Inc. (I) 15,171 798,146
Gungho Online Entertainment, Inc. (L) 99,833 389,997
HubSpot, Inc. (I) 1,361 54,304
Imperva, Inc. (I) 4,982 212,731
Infoblox, Inc. (I) 12,084 288,445
Informatica Corp. (I) 51,434 2,255,638
Interactive Intelligence Group, Inc. (I) 3,882 159,861
Intuit, Inc. 95,501 9,259,777
Jive Software, Inc. (I) 9,748 50,007
Kofax Ltd. (I) (L) 16,908 185,143
Konami Corp. 26,109 488,449
Manhattan Associates, Inc. (I) 16,874 853,993
Mavenir Systems, Inc. (I) 2,825 50,116
Mentor Graphics Corp. 67,506 1,622,169
Microsoft Corp. 2,830,783 115,085,483
MicroStrategy, Inc., Class A (I) 2,021 341,933
Model N, Inc. (I) 4,566 54,609
Monotype Imaging Holdings, Inc. 8,803 287,330
NetScout Systems, Inc. (I) (L) 8,158 357,728
Nexon Company, Ltd. 30,553 325,361
NICE-Systems, Ltd. 14,625 892,691
Nintendo Company, Ltd. 26,739 3,923,275
Oracle Corp. 1,106,143 47,730,070
Oracle Corp. Japan 9,306 400,472

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Software (continued)
Park City Group, Inc. (I) 2,440 $ 33,623
Paycom Software, Inc. (I) 1,478 47,385
Pegasystems, Inc. 8,068 175,479
Progress Software Corp. (I) 11,547 313,732
Proofpoint, Inc. (I) 8,265 489,453
PROS Holdings, Inc. (I) 5,413 133,755
PTC, Inc. (I) 54,016 1,953,759
QAD, Inc., Class A 1,757 42,519
Qlik Technologies, Inc. (I) 20,037 623,752
Qualys, Inc. (I) 4,489 208,649
Rally Software Development Corp. (I) 5,868 92,069
RealPage, Inc. (I) 11,681 235,255
Red Hat, Inc. (I) 63,304 4,795,278
Rosetta Stone, Inc. (I) 5,010 38,126
Rovi Corp. (I) 43,212 786,891
salesforce.com, Inc. (I) 208,787 13,949,059
SAP SE 232,787 16,825,227
Sapiens International Corp. NV (I) 6,045 49,569
Seachange International, Inc. (I) 7,903 62,039
Silver Spring Networks, Inc. (I) (L) 7,807 69,795
SolarWinds, Inc. (I) 31,186 1,597,971
Solera Holdings, Inc. 31,582 1,631,526
SS&C Technologies Holdings, Inc. 15,149   943,783
Symantec Corp. 235,576   5,504,233
Synchronoss Technologies, Inc. (I) 7,893 374,602
Synopsys, Inc. (I) 72,234 3,345,879
Take-Two Interactive Software, Inc. (I) 18,597 473,387
Tangoe, Inc. (I) 8,994 124,117
TeleCommunication Systems, Inc., Class A (I) 12,687 48,591
Telenav, Inc. (I) 6,805 53,896
The Rubicon Project, Inc. (I) 1,890 33,869
The Sage Group PLC 271,548 1,875,779
The Ultimate Software Group, Inc. (I) 19,765 3,359,161
TiVo, Inc. (I) 23,242 246,598
Trend Micro, Inc. 26,664 878,592
Tyler Technologies, Inc. (I) 23,125 2,787,256
Varonis Systems, Inc. (I) 1,164 29,868
VASCO Data
       Security International, Inc. (I) (L) 6,552 141,130
Verint Systems, Inc. (I) 13,309 824,226
VirnetX Holding Corp. (I) (L) 9,578 58,330
Zendesk, Inc. (I) 2,624 59,539
Zix Corp. (I) 14,601 57,382
310,910,052
Technology hardware, storage and peripherals - 3.0%
3D Systems Corp. (I) (L) 49,133 1,347,227
Apple, Inc. 2,009,878 250,089,120
Brother Industries, Ltd. 59,836 950,666
Canon, Inc. 286,163 10,124,815
Cray, Inc. (I) 9,116 255,977
Diebold, Inc. 30,413 1,078,445
Dot Hill Systems Corp. (I) 14,118 74,825
Eastman Kodak Company (I) 4,112 78,087
Electronics For Imaging, Inc. (I) 10,402 434,284
EMC Corp. 686,043 17,535,259
FUJIFILM Holdings Corp. 116,594 4,148,012
Hewlett-Packard Company 627,173 19,542,711
Immersion Corp. (I) 6,309 57,917
Intevac, Inc. (I) 6,306 38,719
Konica Minolta, Inc. 114,786 1,163,280
Lexmark International, Inc., Class A 28,526 1,207,791
NCR Corp. (I) 79,283 2,339,641
NEC Corp. 661,846 1,944,121
NetApp, Inc. 107,611 3,815,886
Nimble Storage, Inc. (I) (L) 2,004 44,709
QLogic Corp. (I) 19,304 284,541
Quantum Corp. (I) 50,207 80,331
Ricoh Company, Ltd. 179,716 1,954,129
SanDisk Corp. 73,517 4,677,152
Seagate Technology PLC 113,323 5,896,196
Seiko Epson Corp. 65,910 1,167,355
Silicon Graphics International Corp. (I) 8,015 69,650
Super Micro Computer, Inc. (I) 7,669 254,687
Violin Memory, Inc. (I) (L) 17,805 67,125
Western Digital Corp. 74,955 6,821,655
337,544,313
1,608,923,496
Materials - 4.7%
Chemicals - 2.7%
A. Schulman, Inc. 6,498 313,204
Air Liquide SA 87,073 11,209,723
Air Products & Chemicals, Inc. 66,550 10,067,684
Air Water, Inc. 36,407 650,148
Airgas, Inc. 23,347 2,477,350
Akzo Nobel NV 62,097 4,695,132
Albemarle Corp. 52,714 2,785,408
American Vanguard Corp. 6,800 72,216
Arkema SA 16,557 1,311,245
Asahi Kasei Corp. 317,757 3,034,458
Ashland, Inc. 29,951 3,813,062
Axiall Corp. 15,551 729,964
Balchem Corp. 6,790 376,030
BASF SE 231,950 22,962,017
Cabot Corp. 29,948 1,347,660
Calgon Carbon Corp. 11,798 248,584
CF Industries Holdings, Inc. 16,535 4,690,649
Chase Corp. 1,580 69,093
Chemtura Corp. (I) 16,241 443,217
Croda International PLC 34,483 1,398,564
Cytec Industries, Inc. 33,503 1,810,502
Daicel Corp. 68,985 822,267
E.I. du Pont de Nemours & Company 312,422 22,328,800
Eastman Chemical Company 51,309 3,553,661
Ecolab, Inc. 92,933 10,629,677
EMS-Chemie Holding AG 2,085 847,842
Ferro Corp. (I) 16,043 201,340
Flotek Industries, Inc. (I) 12,084 178,118
FMC Corp. 46,015 2,634,359
Fuchs Petrolub AG 17,835 711,374
FutureFuel Corp. 5,226 53,671
Givaudan SA (I) 2,323 4,196,840
Hawkins, Inc. 2,487 94,481
HB Fuller Company 11,130 477,143
Hitachi Chemical Company, Ltd. 26,770 571,635
Incitec Pivot, Ltd. 417,831 1,290,575
Innophos Holdings, Inc. 4,837 272,613
Innospec, Inc. 5,425 251,666
International Flavors & Fragrances, Inc. 27,880 3,273,112
Intrepid Potash, Inc. (I) 12,440 143,682
Israel Chemicals, Ltd. 112,767 800,902
Johnson Matthey PLC 51,419 2,576,259
JSR Corp. 45,190 782,564
K&S AG 43,761 1,425,823
Kaneka Corp. 69,100 485,811
Kansai Paint Company, Ltd. 58,854 1,071,129

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

Shares or
Principal
Amount Value
COMMON STOCKS (continued)
Chemicals (continued)
KMG Chemicals, Inc. 2,330 $ 62,281
Koninklijke DSM NV 43,190 2,407,169
Koppers Holdings, Inc. 4,654 91,591
Kraton Performance Polymers, Inc. (I) 7,389 149,332
Kronos Worldwide, Inc. 4,732 59,860
Kuraray Company, Ltd. 87,373 1,183,009
Lanxess AG 23,241 1,236,073
Linde AG 46,924 9,541,959
LSB Industries, Inc. (I) 4,349 179,744
LyondellBasell Industries NV, Class A 136,663 11,999,011
Minerals Technologies, Inc. 23,972 1,752,353
Mitsubishi Chemical Holdings Corp. 344,033 1,997,134
Mitsubishi Gas & Chemicals Company, Inc. 98,740 485,927
Mitsui Chemicals, Inc. 200,590 643,250
Monsanto Company 166,754 18,766,495
NewMarket Corp. 4,971 2,375,144
Nippon Paint Company, Ltd. 37,200 1,359,911
Nitto Denko Corp. 39,687 2,650,056
Novozymes A/S, B Shares 60,138 2,745,237
OCI NV (I) 21,694 671,371
Olin Corp. (L) 53,891 1,726,668
OM Group, Inc. 7,201   216,246
OMNOVA Solutions, Inc. (I) 10,838   92,448
Orica, Ltd. 94,268 1,431,484
PolyOne Corp. 61,631 2,301,918
PPG Industries, Inc. 46,945 10,587,975
Praxair, Inc. 99,646 12,031,258
Quaker Chemical Corp. 2,931 251,011
Rentech, Inc. (I) 54,504 61,044
RPM International, Inc. 62,862 3,016,747
Senomyx, Inc. (I) (L) 10,069 44,404
Sensient Technologies Corp. 33,290 2,293,015
Shin-Etsu Chemical Company, Ltd. 103,546 6,760,321
Sigma-Aldrich Corp. 41,213 5,697,697
Sika AG 546 1,954,923
Solvay SA 14,830 2,143,678
Stepan Company 4,374 182,221
Sumitomo Chemical Company, Ltd. 377,844 1,939,267
Symrise AG 31,349 1,976,668
Syngenta AG 23,459 7,969,689
Taiyo Nippon Sanso Corp. (L) 37,657 512,428
Teijin, Ltd. 230,243 781,170
The Dow Chemical Company 375,517 18,017,306
The Israel Corp., Ltd. 714 248,697
The Mosaic Company 107,326 4,943,436
The Scotts Miracle-Gro Company, Class A 20,878 1,402,375
The Sherwin-Williams Company 27,835 7,919,058
The Valspar Corp. 35,132 2,952,142
Toray Industries, Inc. 372,672 3,119,256
Trecora Resources (I) 4,742 57,852
Tredegar Corp. 5,695 114,526
Trinseo SA (I) 2,546 50,411
Tronox, Ltd., Class A 13,741 279,355
Umicore SA 24,179 1,009,840
Yara International ASA 45,214 2,295,645
Zep, Inc. 5,364 91,349
301,011,689
Construction materials - 0.3%
Boral, Ltd. 198,860 963,958
Cimpor-Cimentos de Portugal SA 9 13
CRH PLC 7,591 197,230
CRH PLC 198,243 5,184,617
Eagle Materials, Inc. 23,630 1,974,523
Fletcher Building, Ltd. 174,495 1,095,948
Headwaters, Inc. (I) 16,421 301,161
HeidelbergCement AG 35,401 2,799,593
Holcim, Ltd. (I) 57,606 4,291,787
Imerys SA 8,702 638,494
James Hardie Industries, Ltd. 113,170 1,309,130
Lafarge SA 47,017 3,056,605
Martin Marietta Materials, Inc. 21,332 2,982,214
Taiheiyo Cement Corp. 298,701 912,022
U.S. Concrete, Inc. (I) 3,248 110,042
Vulcan Materials Company 45,566 3,841,214
29,658,551
Containers and packaging - 0.3%
AEP Industries, Inc. (I) 978 53,829
Amcor, Ltd. 303,648 3,235,355
AptarGroup, Inc. 29,297 1,860,945
Avery Dennison Corp. 30,624 1,620,316
Ball Corp. 47,393 3,347,842
Bemis Company, Inc. 45,809 2,121,415
Berry Plastics Group, Inc. (I) 19,819 717,250
Graphic Packaging Holding Company 72,201 1,049,803
Greif, Inc., Class A 15,944 626,121
MeadWestvaco Corp. 57,407 2,862,887
Myers Industries, Inc. 5,988 104,970
Owens-Illinois, Inc. (I) 57,323 1,336,772
Packaging Corp. of America 46,249 3,616,209
Rexam PLC 178,809 1,532,454
Rock-Tenn Company, Class A 65,764 4,241,778
Sealed Air Corp. 72,539 3,304,877
Silgan Holdings, Inc. 19,588 1,138,650
Sonoco Products Company 47,326 2,151,440
Toyo Seikan Kaisha, Ltd. 42,129 616,207
35,539,120
Metals and mining - 1.2%
AK Steel Holding Corp. (I) (L) 39,603 177,025
Alcoa, Inc. 421,727 5,448,713
Allegheny Technologies, Inc. 37,026 1,111,150
Allied Nevada Gold Corp. (I) 35,244 3,877
Alumina, Ltd. 641,832 781,053
AM Castle & Company (I) (L) 4,632 16,907
Ampco-Pittsburgh Corp. 2,208 38,552
Anglo American PLC 352,683 5,267,309
Antofagasta PLC 100,197 1,083,959
ArcelorMittal 250,997 2,355,001
BHP Billiton PLC 533,555 11,709,029
BHP Billiton, Ltd. 811,690 18,866,934
Boliden AB 69,441 1,375,594
Carpenter Technology Corp. 24,716 960,958
Century Aluminum Company (I) 11,424 157,651
Cliffs Natural Resources, Inc. (L) 72,042 346,522
Coeur Mining, Inc. (I) 23,318 109,828
Commercial Metals Company 81,329 1,316,717
Compass Minerals International, Inc. 15,800 1,472,718
Fortescue Metals Group, Ltd. (L) 395,872 586,009
Freeport-McMoRan, Inc. 359,029 6,803,600
Fresnillo PLC 56,641 572,009
Glencore PLC (I) 2,661,227 11,235,005
Globe Specialty Metals, Inc. 14,415 272,732
Gold Resource Corp. 9,161 29,224
Handy & Harman, Ltd. (I) 907 37,241
Haynes International, Inc. 2,863 127,718
Hecla Mining Company 80,275 239,220

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

Shares or      
Principal
Amount Value
COMMON STOCKS (continued)
Metals and mining (continued)
Hitachi Metals, Ltd. 53,164 $ 814,821
Horsehead Holding Corp. (I) 12,636 159,972
Iluka Resources, Ltd. 106,374 685,679
JFE Holdings, Inc. 123,633 2,728,962
Kaiser Aluminum Corp. 3,942 303,100
Kobe Steel, Ltd. 786,928 1,451,422
Maruichi Steel Tube, Ltd. 11,461 271,283
Materion Corp. 4,570 175,625
Mitsubishi Materials Corp. 283,691 953,272
Molycorp, Inc. (I) (L) 43,373 16,712
Newcrest Mining, Ltd. (I) 194,658 1,963,224
Newmont Mining Corp. 171,763 3,728,975
Nippon Steel & Sumitomo Metal Corp. 1,915,257 4,815,729
Noranda Aluminum Holding Corp. 11,538 34,268
Norsk Hydro ASA 341,805 1,796,640
Nucor Corp. 110,075 5,231,865
Olympic Steel, Inc. 2,539 34,175
Randgold Resources, Ltd. 22,317 1,547,065
Reliance Steel & Aluminum Company 36,451 2,226,427
Rio Tinto PLC 321,438 13,255,085
Rio Tinto, Ltd. 109,816 4,758,328
Royal Gold, Inc. 30,651 1,934,385
RTI International Metals, Inc. (I) 6,827 245,158
Schnitzer Steel Industries, Inc., Class A 5,977   94,795
Steel Dynamics, Inc. 113,520 2,281,752
Stillwater Mining Company (I) 26,601 343,685
Sumitomo Metal Mining Company, Ltd. 132,772   1,940,560
SunCoke Energy, Inc. 14,931 223,069
ThyssenKrupp AG 113,847 2,980,538
TimkenSteel Corp. 17,666 467,619
United States Steel Corp. (L) 68,461 1,670,448
Universal Stainless & Alloy Products, Inc. (I) 1,781 46,698
Voestalpine AG 28,489 1,042,129
Walter Energy, Inc. (L) 15,488 9,603
Worthington Industries, Inc. 35,112 934,330
Yamato Kogyo Company, Ltd. 10,086 243,111
133,912,764
Paper and forest products - 0.2%
Boise Cascade Company (I) 8,721 326,689
Clearwater Paper Corp. (I) 4,536 296,201
Deltic Timber Corp. 2,539 168,209
Domtar Corp. 29,966 1,385,029
International Paper Company 146,067 8,105,258
KapStone Paper and Packaging Corp. 18,743 615,520
Louisiana-Pacific Corp. (I) 98,177 1,620,902
Neenah Paper, Inc. 3,678 230,022
Oji Holdings Corp. 202,338 827,876
PH Glatfelter Company 9,669 266,188
Resolute Forest Products, Inc. (I) 14,664 252,954
Schweitzer-Mauduit International, Inc. 6,770 312,232
Stora Enso OYJ, Series R 139,822 1,437,655
UPM-Kymmene OYJ 135,230 2,627,107
Wausau Paper Corp. 10,075 96,015
18,567,857
518,689,981
Telecommunication services - 2.7%
Diversified telecommunication services - 2.2%
8x8, Inc. (I) 20,075 168,630
AT&T, Inc. 1,791,028 58,477,028
Atlantic Tele-Network, Inc. 2,117 146,539
Belgacom SA 38,651 1,352,333
Bezeq The
       Israeli Telecommunication Corp., Ltd. 484,693 902,567
BT Group PLC 2,057,453 13,369,008
CenturyLink, Inc. 195,661 6,760,088
Cincinnati Bell, Inc. (I) 46,810 165,239
Cogent Communications Group, Inc. 10,480 370,258
Consolidated Communications Holdings, Inc. 11,261 229,724
Deutsche Telekom AG 802,177 14,672,147
Elisa OYJ, Class A (L) 36,164 908,207
FairPoint Communications, Inc. (I) (L) 4,940 86,944
Frontier Communications Corp. 346,568 2,443,304
General Communication, Inc., Class A (I) 8,114 127,877
Globalstar, Inc. (I) (L) 62,135 206,910
Hawaiian Telcom Holdco, Inc. (I) 2,518 67,054
HKT Trust and HKT, Ltd. 672,421 866,078
IDT Corp., Class B 3,855 68,426
Iliad SA 6,641 1,550,802
inContact, Inc. (I) 13,768 150,071
Inmarsat PLC 108,064 1,479,895
Inteliquent, Inc. 7,366 115,941
Intelsat SA (I) 6,499 77,988
Iridium Communications, Inc. (I) (L) 18,361 178,285
Koninklijke KPN NV 804,042 2,725,421
Level 3 Communications, Inc. (I) 98,988 5,329,514
Lumos Networks Corp. 4,520 68,975
magicJack VocalTec, Ltd. (I) (L) 4,554 31,149
Nippon Telegraph & Telephone Corp. 94,657 5,843,273
Orange SA 468,542 7,524,581
ORBCOMM, Inc. (I) 13,198 78,792
PCCW, Ltd. 1,026,317 627,156
Premiere Global Services, Inc. (I) 11,122 106,326
Singapore Telecommunications, Ltd. 580,305 1,847,811
Singapore Telecommunications, Ltd. 1,437,549 4,587,272
Spark New Zealand, Ltd. 463,937 1,031,774
Swisscom AG 5,854 3,394,675
TDC A/S 206,276 1,477,959
Telecom Italia SpA (I) 2,558,192 2,995,391
Telecom Italia SpA 1,531,127 1,439,742
Telefonica Deutschland Holding AG (I) 148,246 852,478
Telefonica SA 1,064,845 15,152,215
Telenor ASA 189,543 3,825,048
TeliaSonera AB 658,152 4,182,349
Telstra Corp., Ltd. 1,082,602 5,196,983
TPG Telecom, Ltd. 70,794 491,479
Verizon Communications, Inc. 1,433,896 69,730,362
Vonage Holdings Corp. (I) 38,382 188,456
Windstream Holdings, Inc. (L) 204,810 1,515,594
245,186,118
Wireless telecommunication services - 0.5%
Boingo Wireless, Inc. (I) 5,433 40,965
KDDI Corp. 441,693 9,978,960
Leap Wireless International, Inc. (I) 16,665 41,996
Millicom International Cellular SA 16,797 1,214,575
NTT DOCOMO, Inc. 385,176 6,731,342
RingCentral, Inc., Class A (I) 6,573 100,764
Shenandoah Telecommunications Company 5,586 174,060
SoftBank Corp. 242,687 14,133,944
Spok Holdings, Inc. 5,157 98,860
StarHub, Ltd. 156,811 497,129
Tele2 AB, B Shares 81,031 969,196
Telephone & Data Systems, Inc. 46,152 1,149,185

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (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 6,697,960 $ 21,917,886
57,048,862
302,234,980
Utilities - 3.2%
Electric utilities - 1.6%
ALLETE, Inc. 9,894 522,007
American Electric Power Company, Inc. 168,950 9,503,438
AusNet Services 434,384 482,093
Cheung Kong Infrastructure Holdings, Ltd. 154,843 1,329,914
Chubu Electric Power Company, Inc. 163,629 1,951,099
Cleco Corp. 41,703   2,273,648
CLP Holdings, Ltd. 476,334 4,163,216
Contact Energy, Ltd. 95,301 425,560
Duke Energy Corp. 244,134 18,744,609
Edison International 112,415 7,022,565
EDP - Energias de Portugal SA 580,159 2,172,779
El Paso Electric Company 9,116 352,242
Electricite de France SA 61,463 1,473,777
Endesa SA 80,373 1,551,588
Enel SpA 1,661,438 7,505,419
Entergy Corp. 62,305 4,828,014
Eversource Energy 109,379 5,525,827
Exelon Corp. 296,694 9,971,885
FirstEnergy Corp. 145,359 5,096,287
Fortum OYJ (L) 112,915   2,365,590
Great Plains Energy, Inc. 72,457   1,933,153
Hawaiian Electric Industries, Inc. 48,275 1,550,593
Hokuriku Electric Power Company 41,292 546,395
Iberdrola SA 1,304,406 8,411,532
IDACORP, Inc. 34,700 2,181,589
Kyushu Electric Power Company, Inc. (I) 108,418 1,050,430
MGE Energy, Inc. 7,875 349,020
Mighty River Power, Ltd. 172,299 398,987
NextEra Energy, Inc. 152,996 15,919,234
NRG Yield, Inc., Class A 5,384 273,130
OGE Energy Corp. 93,758 2,963,690
Otter Tail Corp. 8,089 260,223
Pepco Holdings, Inc. 86,836 2,329,810
Pinnacle West Capital Corp. 38,213 2,436,079
PNM Resources, Inc. 55,157 1,610,584
Portland General Electric Company 17,197 637,837
Power Assets Holdings, Ltd. 349,236 3,564,946
PPL Corp. 230,156 7,747,051
Red Electrica Corp. SA 27,122 2,205,380
Shikoku Electric Power Company, Inc. (I) 45,625 561,543
SSE PLC 249,332 5,533,408
Terna Rete Elettrica Nazionale SpA 375,812 1,654,867
The Chugoku Electric Power Company, Inc. 75,336 982,028
The Empire District Electric Company 9,703 240,828
The Kansai Electric Power Company, Ltd. (I) 178,824 1,704,350
The Southern Company 313,944 13,901,440
Tohoku Electric Power Company, Inc. 114,965 1,305,821
Tokyo Electric Power Company, Inc. (I) 367,440 1,390,741
UIL Holdings Corp. 12,602 647,995
Unitil Corp. 3,473 120,756
Westar Energy, Inc. 62,106 2,407,229
Xcel Energy, Inc. 174,660 6,079,915
180,162,141
Gas utilities - 0.3%
AGL Resources, Inc. 41,081 2,039,672
APA Group, Ltd. 281,131 1,933,647
Atmos Energy Corp. 47,378 2,620,003
Chesapeake Utilities Corp. 3,299 166,962
Enagas SA 51,557 1,474,265
Gas Natural SDG SA 87,665 1,968,264
Hong Kong & China Gas Company, Ltd. 1,585,484 3,671,263
National Fuel Gas Company 39,607 2,389,490
New Jersey Resources Corp. 18,574 576,908
Northwest Natural Gas Company 5,951 285,350
ONE Gas, Inc. 35,900 1,551,957
Osaka Gas Company, Ltd. 476,377 1,992,102
Piedmont Natural Gas Company, Inc. (L) 17,269 637,399
Questar Corp. 82,484 1,968,068
Snam SpA 528,909 2,567,395
South Jersey Industries, Inc. 7,401 401,726
Southwest Gas Corp. 10,287 598,395
The Laclede Group, Inc. 9,530 488,127
Toho Gas Company, Ltd. 103,924 605,793
Tokyo Gas Company, Ltd. 589,484 3,705,925
UGI Corp. 81,211 2,646,666
WGL Holdings, Inc. 34,842 1,965,089
36,254,466
Independent power and renewable electricity producers - 0.1%
Abengoa Yield PLC 6,360 214,841
AES Corp. 223,001 2,865,563
Atlantic Power Corp. 28,507 80,105
Dynegy, Inc. (I) 27,437 862,345
EDP Renovaveis SA 48 330
Electric Power Development Company, Ltd. 29,548 995,386
Enel Green Power SpA 444,649 829,118
Meridian Energy, Ltd. 313,392 473,767
NRG Energy, Inc. 116,523 2,935,214
Ormat Technologies, Inc. (L) 7,315 278,116
Pattern Energy Group, Inc. 9,984 282,747
Terraform Power, Inc., Class A (I) 6,338 231,400
Vivint Solar, Inc. (I) (L) 4,637 56,293
10,105,225
Multi-utilities - 1.1%
A2A SpA 39 40
AGL Energy, Ltd. 170,723 1,973,695
Alliant Energy Corp. 52,140 3,284,820
Ameren Corp. 83,756 3,534,503
Avista Corp. 13,398 457,944
Black Hills Corp. 30,961 1,561,673
CenterPoint Energy, Inc. 147,757 3,015,720
Centrica PLC 1,255,183 4,694,768
CMS Energy Corp. 95,187 3,322,978
Consolidated Edison, Inc. 101,109 6,167,649
Dominion Resources, Inc. 202,930 14,381,649
DTE Energy Company 61,180 4,936,614
E.ON SE 505,354 7,514,069
GDF Suez 365,859 7,223,161
Integrys Energy Group, Inc. 27,540 1,983,431
MDU Resources Group, Inc. 91,378 1,950,007
National Grid PLC 950,718 12,222,479
NiSource, Inc. 109,178 4,821,300
NorthWestern Corp. 10,394 559,093
PG&E Corp. 164,390 8,724,177
Public Service Enterprise Group, Inc. 174,677 7,322,460
RWE AG 123,411 3,142,036
SCANA Corp. 49,399 2,716,451
Sempra Energy 79,904 8,711,134
Suez Environnement Company 75,631 1,302,102

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

Shares or      
Principal
Amount Value
COMMON STOCKS (continued)
Multi-utilities (continued)
TECO Energy, Inc. 81,916 $ 1,589,170
Vectren Corp. 38,820 1,713,515
Veolia Environnement SA 107,134 2,026,288
Wisconsin Energy Corp. (L) 77,823 3,852,239
124,705,165
Water utilities - 0.1%
American States Water Company 8,657 345,328
Aqua America, Inc. 83,108 2,189,896
California Water Service Group 10,660 261,277
Connecticut Water Service, Inc. 2,736 99,399  
Middlesex Water Company 4,095 93,202
Severn Trent PLC 60,786 1,852,910
SJW Corp.   3,645 112,667
United Utilities Group PLC 171,123 2,366,163
York Water Company 3,370 81,824
7,402,666
358,629,663
TOTAL COMMON STOCKS (Cost $8,344,084,761) $ 10,755,141,492
         
PREFERRED SECURITIES - 0.2%
Consumer discretionary - 0.1%  
Bayerische Motoren Werke AG 13,797 1,274,369
Porsche Automobil Holding SE 38,548   3,774,942
Volkswagen AG 41,099 10,899,553
15,948,864
Consumer staples - 0.1%
Henkel AG & Company KGaA, 0.800% 44,908 5,275,001
TOTAL PREFERRED SECURITIES (Cost $15,548,724) $ 21,223,865
         
RIGHTS - 0.0%
Banco Bilbao Vizcaya Argentaria SA
       (Expiration Date: 04/14/2015) (I) (N) 1,576,524 227,151
Banco De Sabadell SA (I) (L) (N) 866,721 219,938
Community Health Systems, Inc. (Expiration
       Date: 01/27/2016) (I) (N) 174,338 3,835
Groupe Fnac (Expiration
       Date: 05/15/2015) (I) (N) 13,898 96,687
Telefonica SA (Expiration
       Date: 04/16/2015) (I) (N) 1,064,845 171,746
TOTAL RIGHTS (Cost $281,012) $ 719,357
         
WARRANTS - 0.0%
Sun Hung Kai Properties, Ltd. (Expiration
       Date: 04/22/2016; Strike Price:
       HKD 98.60) (I) 32,255 93,404
TOTAL WARRANTS (Cost $0) $ 93,404
         
SECURITIES LENDING COLLATERAL - 1.4%
John Hancock
       Collateral Trust, 0.1102% (W) (Y) 15,706,819 157,146,721
TOTAL SECURITIES LENDING
COLLATERAL (Cost $157,149,082) $ 157,146,721
 
SHORT-TERM INVESTMENTS - 2.3%
Repurchase agreement - 2.3%
Repurchase Agreement with State Street Corp.
       dated 03/31/2015 at 0.000% to be
       repurchased at $255,855,000 on 04/01/2015,
       collateralized by $206,925,000
       U.S. Treasury Bonds, 3.750% due
       11/15/2043 (valued at $260,994,503,
       including interest) $ 255,855,000 $ 255,855,000
TOTAL SHORT-TERM INVESTMENTS (Cost $255,855,000) $ 255,855,000
Total Investments (Strategic Equity Allocation Trust)
       (Cost $8,772,918,579) - 100.5% $ 11,190,179,839
Other assets and liabilities, net - (0.5%) (53,837,190 )
TOTAL NET ASSETS - 100.0% $ 11,136,342,649

Strategic Income Opportunities Trust

Shares or      
Principal
Amount Value
FOREIGN GOVERNMENT
OBLIGATIONS - 19.6%
Australia - 2.3%
New South Wales Treasury Corp.
       6.000%, 05/01/2020 AUD 3,695,000 $ 3,331,401
Queensland Treasury Corp.
       4.000%, 06/21/2019 (S) 3,275,000 2,675,690
       6.000%, 10/21/2015 to 04/21/2016 7,959,000 6,268,906
12,275,997
Bermuda - 0.3%
Government of Bermuda
       4.854%, 02/06/2024 (S) $ 1,730,000 1,818,663
Canada - 3.5%
Export Development Canada
       3.250%, 08/08/2017 AUD 740,000 577,963
Government of Canada
       1.250%, 02/01/2016 to 03/01/2018 CAD 10,475,000 8,324,158
       1.500%, 02/01/2017 to 03/01/2020 6,070,000 4,920,987
Province of Ontario
       6.250%, 06/16/2015 NZD 5,777,000 4,339,179
       6.250%, 09/29/2020 AUD 725,000 649,127
  18,811,414
Mexico - 1.0%
Government of Mexico
       4.750%, 06/14/2018 MXN 23,320,000 1,529,626
       5.000%, 06/15/2017 29,054,100 1,941,911
       8.000%, 12/07/2023 23,850,000 1,783,833
  5,255,370
New Zealand - 3.3%
Dominion of New Zealand
       5.000%, 03/15/2019 NZD 3,400,000 2,717,887
       6.000%, 04/15/2015 to 05/15/2021 17,570,000   14,477,708
New Zealand Local Government Funding
       Agency
       6.000%, 12/15/2017 975,000   772,717
17,968,312
Norway - 1.5%
Government of Norway
       3.750%, 05/25/2021 NOK 5,560,000 791,997

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Strategic Income Opportunities Trust (continued)

Shares or      
Principal
Amount Value
FOREIGN GOVERNMENT
OBLIGATIONS (continued)
Norway (continued)
Government of Norway (continued)
       4.500%, 05/22/2019 NOK 31,072,000 $ 4,396,952
       5.000%, 05/15/2015 24,128,000 3,006,408
8,195,357
Peru - 0.2%
Republic of Peru
       7.350%, 07/21/2025 $ 955,000 1,298,800
Philippines - 1.9%
Republic of Philippines
       4.950%, 01/15/2021 PHP 33,000,000 782,550
       5.875%, 12/16/2020 to 03/01/2032 157,303,440 3,947,475
       6.250%, 01/14/2036 43,000,000 1,108,669
       6.500%, 04/28/2021 106,400,000 2,746,801
       7.375%, 03/03/2021 59,600,000 1,590,565
10,176,060
Singapore - 1.1%  
Republic of Singapore
       2.375%, 04/01/2017 SGD 2,800,000 2,082,663
       2.875%, 07/01/2015 3,000,000 2,196,008
       3.250%, 09/01/2020 2,260,000 1,749,998
6,028,669
South Korea - 1.9%  
Korea Treasury Bond Coupon Strips
       3.286%, 09/10/2018 KRW 83,030,000 70,474
       3.287%, 03/10/2018 83,030,000 71,135
       3.296%, 03/10/2017 83,030,000 72,414
       3.297%, 09/10/2017 83,030,000 71,781
       3.309%, 09/10/2016 83,030,000 73,029
       3.315%, 03/10/2016 83,030,000 73,648
       3.326%, 09/10/2015 83,030,000 74,282
Korea Treasury Bond Principal Strips
       3.286%, 09/10/2018 2,888,000,000 2,450,433
Republic of Korea
       3.250%, 06/10/2015 3,500,000,000 3,163,619
       3.500%, 03/10/2017 2,000,000,000 1,862,651
       4.000%, 03/10/2016 2,750,000,000 2,531,299
       5.750%, 09/10/2018 2,000,000 2,041
10,516,806
Sweden - 1.5%
Kingdom of Sweden
       1.500%, 11/13/2023 SEK 28,350,000 3,619,829
       3.000%, 07/12/2016 3,070,000 371,382
       3.500%, 06/01/2022 7,270,000 1,041,689
       5.000%, 12/01/2020 21,300,000 3,166,749
8,199,649
Thailand - 1.1%
Kingdom of Thailand
       3.250%, 06/16/2017 THB 187,500,000 5,941,480
TOTAL FOREIGN GOVERNMENT
OBLIGATIONS (Cost $115,555,990) $ 106,486,577
         
CORPORATE BONDS - 42.5%
Consumer discretionary - 7.8%
21st Century Fox America, Inc.
       6.200%, 12/15/2034 $ 940,000 1,200,777
American Axle & Manufacturing, Inc.
       6.625%, 10/15/2022 1,195,000 1,281,618
Arcos Dorados Holdings, Inc.
       10.250%, 07/13/2016 (S) BRL 1,896,000 534,662
Cablevision Systems Corp.
       8.000%, 04/15/2020 $ 1,150,000 1,302,375
CBS Corp.
       3.500%, 01/15/2025 1,565,000 1,580,267
CCO Holdings LLC
       5.750%, 01/15/2024 1,690,000 1,766,050
       7.000%, 01/15/2019 1,605,000 1,669,200
Cox Communications, Inc.
       5.500%, 10/01/2015 585,000 598,638
DISH DBS Corp.
       5.000%, 03/15/2023 1,130,000 1,098,699
       5.875%, 11/15/2024 500,000 500,625
       7.875%, 09/01/2019 2,300,000 2,570,250
Family Tree Escrow LLC
       5.750%, 03/01/2023 (S) 1,345,000 1,412,250
FCA US LLC
       8.250%, 06/15/2021 370,000 410,371
Ferrellgas LP
       6.750%, 01/15/2022 1,204,000 1,224,950
General Motors Financial Company, Inc.
       3.250%, 05/15/2018 630,000 641,813
       4.375%, 09/25/2021 1,260,000 1,342,202
Johnson Controls, Inc.
       5.500%, 01/15/2016 425,000 440,487
L Brands, Inc.
       5.625%, 10/15/2023 1,655,000 1,837,050
       7.000%, 05/01/2020 1,119,000 1,289,648
Lamar Media Corp.
       5.000%, 05/01/2023 625,000 639,063
LIN Television Corp.
       5.875%, 11/15/2022 (S) 795,000 810,900
Macy’s Retail Holdings, Inc.
       7.875%, 08/15/2036 484,000 522,311
New Look Bondco I PLC
       8.750%, 05/14/2018 (S) GBP 570,000 883,587
Numericable Group SA
       6.250%, 05/15/2024 (S) $ 1,230,000 1,245,375
PVH Corp.
       4.500%, 12/15/2022 1,265,000 1,283,975
QVC, Inc.
       4.450%, 02/15/2025 1,695,000 1,706,297
       5.950%, 03/15/2043 1,205,000 1,233,579
Sirius XM Radio, Inc.
       4.625%, 05/15/2023 (S) 1,130,000 1,087,625
       5.250%, 08/15/2022 (S) 1,420,000 1,498,100
       5.875%, 10/01/2020 (S) 1,335,000 1,391,738
The Goodyear Tire & Rubber Company
       7.000%, 05/15/2022 1,980,000 2,178,000
       8.750%, 08/15/2020 320,000 385,600
The Home Depot, Inc.
       5.400%, 03/01/2016 1,439,000 1,502,139
The Men’s Wearhouse, Inc.
       7.000%, 07/01/2022 (S) 1,610,000 1,694,525
Univision Communications, Inc.
       6.750%, 09/15/2022 (S) 1,167,000 1,251,608
Volkswagen International Finance NV
       1.150%, 11/20/2015 (S) 445,000 446,784
  42,463,138
Consumer staples - 3.0%
Anheuser-Busch InBev Worldwide, Inc.
       9.750%, 11/17/2015 BRL 2,111,000 650,190

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


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Strategic Income Opportunities Trust (continued)

Shares or      
Principal
Amount Value
CORPORATE BONDS (continued)
Consumer staples (continued)
B&G Foods, Inc.
       4.625%, 06/01/2021 $ 1,935,000 $ 1,932,581
Cott Beverages, Inc.
       5.375%, 07/01/2022 (S) 1,600,000 1,542,000
Heineken NV
       0.800%, 10/01/2015 (S) 975,000 975,753
HJ Heinz Company
       4.250%, 10/15/2020 1,740,000 1,785,240
       4.875%, 02/15/2025 (S) 1,605,000 1,739,419
JBS Investments GmbH  
       7.750%, 10/28/2020 (S) 425,000 449,438
Kimberly-Clark Corp.
       4.279%, 12/21/2015 (S) 1,620,000 1,665,375
PepsiCo, Inc.
       2.500%, 05/10/2016 546,000 557,135
Post Holdings, Inc.
       6.000%, 12/15/2022 (S)   675,000 651,375
       6.750%, 12/01/2021 (S) 1,665,000 1,681,650
The Coca-Cola Company
       1.800%, 09/01/2016 1,431,000 1,455,313
TreeHouse Foods, Inc.
       4.875%, 03/15/2022 420,000   428,400
Tyson Foods, Inc.
       6.600%, 04/01/2016 545,000   574,880
16,088,749
Energy - 1.2%
Ecopetrol SA
       4.250%, 09/18/2018 185,000 193,788
       5.875%, 09/18/2023 545,000 585,058
Exxon Mobil Corp.
       2.709%, 03/06/2025 2,120,000 2,141,605
Petroleos Mexicanos
       7.650%, 11/24/2021 (S) MXN 15,351,000 1,034,097
TerraForm Power Operating LLC
       5.875%, 02/01/2023 (S) $ 1,156,000 1,199,350
The Williams Companies, Inc.
       4.550%, 06/24/2024 1,410,000 1,370,679
6,524,577
Financials - 14.4%
American International Group, Inc.
       (8.175% to 05/15/2038, then 3 month
       LIBOR + 4.195%)
       8.175%, 05/15/2058 3,195,000 4,530,670
American Tower Corp.
       7.000%, 10/15/2017 529,000 595,675
Asian Development Bank
       5.000%, 03/09/2022 AUD 1,530,000 1,337,367
Asian Development Bank
       3.250%, 07/20/2017 NZD 1,480,000 1,095,555
Avenue Financial Holdings, Inc.
       6.750%, 12/29/2024 (P)(S) $ 500,000 500,000
Bancolombia SA
       5.950%, 06/03/2021 850,000 938,995
Bank of America Corp.
       1.068%, 09/15/2026 (P) 2,515,000 2,263,686
Bank of Montreal
       0.800%, 11/06/2015 940,000 942,407
BNC Bancorp (5.500% to 10/01/2019,
       then 3 month LIBOR + 3.590%)
       5.500%, 10/01/2024 500,000 501,218
Cadence Financial Corp.
       6.500%, 03/11/2025 (P)(S) 500,000 500,000
Canadian Imperial Bank of Commerce
       0.900%, 10/01/2015 721,000 722,363
       2.350%, 12/11/2015 1,255,000 1,271,009
CapitaMalls Asia Treasury, Ltd.
       3.950%, 08/24/2017 SGD 3,250,000 2,474,419
CBRE Services, Inc.
       5.000%, 03/15/2023 $ 990,000 1,029,600
Citigroup, Inc.
       6.250%, 06/29/2017 NZD 1,245,000 969,538
Citigroup, Inc. (5.900% to 2-15-23, then
       3 month LIBOR + 4.230%)
       5.900%, 02/15/2023 (Q) $ 745,000 750,588
Citigroup, Inc. (5.950% to 01/30/2023,
       then 3 month LIBOR + 4.069%)
       5.950%, 01/30/2023 (Q) 1,605,000 1,625,063
Commonwealth Bank of Australia
       1.250%, 09/18/2015 2,725,000 2,734,701
Corrections Corp. of America
       4.125%, 04/01/2020 963,000 969,019
Credit Acceptance Corp.
       6.125%, 02/15/2021 210,000 201,075
Crown Castle Towers LLC
       4.883%, 08/15/2020 (S) 1,104,000 1,212,196
Eagle Bancorp, Inc.
       5.750%, 09/01/2024 500,000 515,000
Fifth Third Bancorp (5.100% to
       06/30/2023, then 3 month
       LIBOR + 3.033%)
       5.100%, 06/30/2023 (Q) 1,820,000 1,729,000
General Electric Capital Australia
       Funding Pty, Ltd.
       7.000%, 10/08/2015 AUD 2,800,000 2,181,220
General Electric Capital Corp.
       4.250%, 01/17/2018 NZD 715,000 537,948
       4.875%, 04/05/2016 SEK 10,000,000 1,215,601
       6.250%, 09/29/2020 GBP 265,000 479,397
General Electric Capital Corp. (7.125%
       until 06/15/2022, then 3 month
       LIBOR + 5.296%)
       7.125%, 06/15/2022 (Q) $ 1,600,000 1,878,000
Heartland Financial USA, Inc.
       5.750%, 12/30/2024 505,000 507,525
Hongkong Land Treasury Services
       Pte, Ltd.
       3.860%, 12/29/2017 SGD 250,000 186,248
Host Hotels & Resorts LP
       5.250%, 03/15/2022 $ 620,000 689,687
HSBC Finance Corp.
       5.000%, 06/30/2015 465,000 469,970
Independent Bank Group, Inc.
       5.875%, 08/01/2024 690,000 716,738
Inter-American Development Bank
       3.750%, 10/09/2018 AUD 1,055,000 844,482
       6.500%, 08/20/2019 2,705,000 2,415,648
International Bank for Reconstruction
       & Development
       1.375%, 06/23/2019 SEK 8,600,000 1,044,225
       2.125%, 05/29/2017 NOK 1,560,000 197,618
       3.375%, 08/13/2017 NZD 620,000 460,314
       3.750%, 01/23/2019 AUD 1,000,000 802,452
       4.500%, 08/16/2016 NZD 1,455,000 1,100,383
       4.625%, 02/26/2019 to 10/06/2021 3,825,000 2,968,819

The accompanying notes are an integral part of the financial statements. 249


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Strategic Income Opportunities Trust (continued)

Shares or      
Principal
Amount Value
CORPORATE BONDS (continued)
Financials (continued)
International Finance Corp.
       3.250%, 07/22/2019 AUD 625,000 $ 493,838
       3.875%, 02/26/2018 NZD 620,000 465,995
       10.000%, 06/12/2017 BRL 1,745,000 537,954
JPMorgan Chase & Co.
       4.250%, 11/02/2018 NZD 1,485,000 1,113,678
Kennedy-Wilson, Inc.
       5.875%, 04/01/2024 $ 1,180,000 1,182,950
KFW
       5.750%, 05/13/2015 AUD 1,600,000 1,223,149
       6.000%, 01/19/2016 to 08/20/2020 3,388,000 2,984,371
MetLife, Inc.
       6.400%, 12/15/2036 $ 755,000 894,675
National Australia Bank, Ltd.
       2.750%, 09/28/2015 (S) 465,000 470,192
       6.000%, 02/15/2017 AUD 1,805,000 1,466,120
Oversea-Chinese Banking Corp., Ltd.
       (4.000% to 10/15/2019, then 5 year
       U.S. Swap Rate + 2.203%)
       4.000%, 10/15/2024 (S) $ 1,175,000 1,224,820
Prudential Financial, Inc. (5.875% to
       09/01/2022, then 3 month
       LIBOR + 4.175%)
       5.875%, 09/15/2042 645,000 700,631
Regions Financial Corp.
       7.375%, 12/10/2037 385,000 503,907
Royal Bank of Canada
       0.633%, 03/08/2016 (P) 930,000 932,770
       2.625%, 12/15/2015 1,435,000 1,456,625
Skandinaviska Enskilda Banken AB
       0.575%, 01/04/2016 900,000 900,932
Stifel Financial Corp.
       4.250%, 07/18/2024 2,505,000 2,557,091
Synovus Financial Corp.
       5.125%, 06/15/2017 1,570,000 1,598,417
       7.875%, 02/15/2019 725,000 812,000
Temasek Financial I, Ltd.
       3.265%, 02/19/2020 SGD 1,250,000 945,610
The Bank of Nova Scotia
       0.535%, 12/31/2015 $ 1,055,000 1,055,989
       0.773%, 07/15/2016 (P) 750,000 753,431
The Toronto-Dominion Bank
       0.424%, 07/13/2016 (P) 640,000 639,907
Trust F/1401
       5.250%, 12/15/2024 (S) 995,000 1,069,625
Westpac Banking Corp.
       3.000%, 12/09/2015 1,710,000 1,739,583
       5.000%, 10/21/2019 GBP 375,000 638,240
       7.250%, 02/11/2020 AUD 700,000 634,426
Zions Bancorporation (5.800% to
       06/15/2023, then 3 month
       LIBOR + 3.800%)
       5.800%, 06/15/2023 (Q) $ 1,050,000 1,004,325
78,106,670
Health care - 5.7%
AbbVie, Inc.
       1.015%, 11/06/2015 (P) 690,000 692,084
       1.200%, 11/06/2015 715,000 716,035
Community Health Systems, Inc.
       6.875%, 02/01/2022 1,540,000 1,638,175
       7.125%, 07/15/2020 315,000 333,900
DaVita HealthCare Partners, Inc.
       5.125%, 07/15/2024 1,045,000 1,067,859
Endo Finance LLC
       5.750%, 01/15/2022 (S) 830,000 850,750
       6.000%, 02/01/2025 (S) 415,000 425,375
       7.250%, 01/15/2022 (S) 805,000 854,306
Express Scripts Holding Company
       3.500%, 06/15/2024 1,395,000 1,436,185
Forest Laboratories, Inc.
       4.875%, 02/15/2021 (S) 1,875,000 2,069,756
       5.000%, 12/15/2021 (S) 1,775,000 1,973,718
Grifols Worldwide Operations, Ltd.
       5.250%, 04/01/2022 (S) 1,600,000 1,626,000
HCA Holdings, Inc.
       6.250%, 02/15/2021 1,897,000 2,051,036
HCA, Inc.
       5.000%, 03/15/2024 1,995,000 2,117,194
       7.500%, 02/15/2022 1,165,000 1,358,681
       8.000%, 10/01/2018 280,000 324,450
LifePoint Hospitals, Inc.
       5.500%, 12/01/2021 3,760,000 3,938,600
Mallinckrodt International Finance SA
       5.750%, 08/01/2022 (S) 1,130,000 1,166,725
Merck & Company, Inc.
       0.446%, 05/18/2016 (P) 535,000 535,826
       2.250%, 01/15/2016 1,800,000 1,825,479
Tenet Healthcare Corp.
       4.375%, 10/01/2021 1,450,000 1,417,375
UnitedHealth Group, Inc.
       0.850%, 10/15/2015 350,000 350,695
Valeant Pharmaceuticals International, Inc.
       5.500%, 03/01/2023 (S) 730,000 738,213
       7.500%, 07/15/2021 (S) 865,000 935,549
WellCare Health Plans, Inc.
       5.750%, 11/15/2020 553,000 580,650
31,024,616
Industrials - 1.2%
AECOM
       5.750%, 10/15/2022 (S) 1,280,000 1,324,800
Delta Air Lines 2007-1 Class A Pass  
       Through Trust
       6.821%, 02/10/2022 1,080,146 1,267,875
Lockheed Martin Corp.
       2.900%, 03/01/2025 2,215,000 2,239,376
Norfolk Southern Corp.
       5.750%, 01/15/2016 730,000 757,849
US Airways 2012-1 Class A Pass
       Through Trust
       5.900%, 10/01/2024 268,294 306,526
US Airways 2012-1 Class B Pass
       Through Trust
       8.000%, 10/01/2019 805,916 914,715
6,811,141
Information technology - 2.1%
Apple, Inc.
       0.450%, 05/03/2016 565,000 565,079
Hewlett-Packard Company
       2.125%, 09/13/2015 1,345,000 1,353,529
       2.650%, 06/01/2016 1,605,000 1,634,858
IBM Corp.
       0.325%, 02/05/2016 (P) 650,000   650,295
       2.750%, 12/21/2020 GBP 700,000 1,092,342
Micron Technology, Inc.
       5.250%, 08/01/2023 (S) $ 1,330,000 1,353,275

The accompanying notes are an integral part of the financial statements. 250


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Strategic Income Opportunities Trust (continued)

Shares or      
Principal
Amount Value
CORPORATE BONDS (continued)
Information technology (continued)
Micron Technology, Inc. (continued)
       5.875%, 02/15/2022 $ 1,360,000 $ 1,435,494
Sixsigma Networks Mexico SA de CV
       8.250%, 11/07/2021 (S) 1,545,000 1,614,989
Zebra Technologies Corp.
       7.250%, 10/15/2022 (S) 1,420,000 1,530,050
11,229,911
Materials - 2.6%
ArcelorMittal
       7.500%, 03/01/2041 1,145,000 1,190,800
Ball Corp.
       4.000%, 11/15/2023 1,720,000 1,677,000
Cemex Finance LLC
       9.375%, 10/12/2022 (S) 1,055,000 1,197,425
Cemex SAB de CV
       6.125%, 05/05/2025 (S) 2,410,000 2,433,377
Crown Americas LLC
       4.500%, 01/15/2023 1,310,000 1,321,463
Crown Cork & Seal Company, Inc.
       7.375%, 12/15/2026 371,000 424,795
Platform Specialty Products Corp.  
       6.500%, 02/01/2022 885,000   924,825
Sealed Air Corp.  
       4.875%, 12/01/2022 (S) 965,000 984,300
       5.125%, 12/01/2024 (S) 965,000 998,775
       6.500%, 12/01/2020 (S) 1,790,000 1,991,375
W.R. Grace & Co-Conn
       5.125%, 10/01/2021 (S) 1,040,000 1,079,000
14,223,135
Telecommunication services - 2.6%
America Movil SAB de CV
       7.125%, 12/09/2024 MXN 22,490,000 1,456,575
AT&T, Inc.
       0.800%, 12/01/2015 $ 390,000 390,024
Frontier Communications Corp.
       7.125%, 01/15/2023 1,330,000 1,359,925
       9.250%, 07/01/2021 150,000 174,000
GTP Acquisition Partners I LLC
       7.628%, 06/15/2016 (S) 625,000 662,313
HC2 Holdings, Inc.
       11.000%, 12/01/2019 (S) 3,025,000 3,077,938
SBA Telecommunications, Inc.
       5.750%, 07/15/2020 505,000 530,881
SBA Tower Trust
       5.101%, 04/17/2017 (S) 616,000 644,244
T-Mobile USA, Inc.
       6.125%, 01/15/2022 1,930,000 1,990,313
       6.250%, 04/01/2021 718,000 746,720
       6.625%, 04/01/2023 445,000 466,138
       6.836%, 04/28/2023 435,000 457,838
Verizon Communications, Inc.
       4.272%, 01/15/2036 (S) 1,277,000 1,267,361
Vodafone Group PLC
       0.641%, 02/19/2016 (P) 740,000 740,563
13,964,833
Utilities - 1.9%
Calpine Corp.
       5.750%, 01/15/2025 1,885,000 1,899,138
       5.875%, 01/15/2024 (S) 176,000 190,168
       6.000%, 01/15/2022 (S) 1,451,000 1,552,570
Dynegy Finance I, Inc.
       7.375%, 11/01/2022 (S) 695,000 730,619
NiSource Finance Corp.
       4.800%, 02/15/2044 470,000 528,443
       5.650%, 02/01/2045 1,165,000 1,486,052
NRG Yield Operating LLC
       5.375%, 08/15/2024 (S) 670,000 696,800
Pacific Gas & Electric Company
       0.458%, 05/11/2015 (P) 1,610,000 1,609,852
RJS Power Holdings LLC
       5.125%, 07/15/2019 (S) 1,775,000 1,748,375
Southern Gas Networks PLC
       4.875%, 12/21/2020 GBP 80,000 136,153
10,578,170
TOTAL CORPORATE BONDS (Cost $229,292,280) $ 231,014,940
         
CAPITAL PREFERRED SECURITIES - 0.4%
Financials - 0.4%
JPMorgan Chase Capital XXIII
       1.257%, 05/15/2047 (P) $ 1,040,000 816,400
M&T Capital Trust III
       9.250%, 02/01/2027 95,000 95,910
USB Capital IX
       3.500%, 10/29/2049 (P)(Q) 1,456,000 1,204,840
2,117,150
TOTAL CAPITAL PREFERRED
SECURITIES (Cost $2,014,055) $ 2,117,150
         
CONVERTIBLE BONDS - 1.9%
Consumer discretionary - 0.1%
Liberty Interactive LLC
       0.750%, 03/30/2043 470,000 655,944
Consumer staples - 0.2%
Vector Group, Ltd.
       2.500%, 01/15/2019 (P) 510,000 718,935
Financials - 0.4%
Fidelity National Financial, Inc.
       4.250%, 08/15/2018 250,000 504,063
MGIC Investment Corp.
       2.000%, 04/01/2020 1,065,000 1,563,553
2,067,616
Health care - 0.6%
Anthem, Inc.
       2.750%, 10/15/2042 1,099,000 2,270,122
HealthSouth Corp.
       2.000%, 12/01/2043 505,000 622,413
Hologic, Inc.
       2.000%, 03/01/2042 (P) 430,000 532,394
3,424,929
Industrials - 0.4%
Air Lease Corp.
       3.875%, 12/01/2018 815,000 1,173,091
Trinity Industries, Inc.
       3.875%, 06/01/2036 605,000 945,313
2,118,404

The accompanying notes are an integral part of the financial statements. 251


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Strategic Income Opportunities Trust (continued)

Shares or      
Principal
Amount Value
CONVERTIBLE BONDS (continued)
Information technology - 0.2%
Intel Corp.
       3.250%, 08/01/2039 $ 790,000 $ 1,247,213
TOTAL CONVERTIBLE BONDS (Cost $8,685,344) $ 10,233,041
         
TERM LOANS (M) - 10.9%
Consumer discretionary - 2.5%
CCO Safari LLC
       4.250%, 09/12/2021 1,260,000 1,269,057
Dollar Tree, Inc.
       4.250%, 03/09/2022

 

 750,000 757,617
FCA US LLC  
       3.250%, 12/31/2018 1,887,947 1,883,620
Four Seasons Holdings, Inc.
       3.500%, 06/27/2020 1,788,007 1,795,368
Hilton Worldwide Finance LLC
       3.500%, 10/26/2020 1,495,215   1,496,551
Hudson’s Bay Company
       4.750%, 11/04/2020 648,375 649,388
Restaurant Brands International, Inc.
       4.500%, 12/12/2021 2,264,824 2,285,855
The Men’s Wearhouse, Inc.  
       4.500%, 06/18/2021 1,787,020 1,791,488
Univision Communications, Inc.
       4.000%, 03/01/2020 534,050   532,882
Virgin Media Investment Holdings, Ltd.
       3.500%, 06/07/2020 876,180 874,841
13,336,667
Consumer staples - 1.2%
Aramark Services, Inc.
       3.250%, 02/24/2021 2,559,150 2,553,392
HJ Heinz Company
       3.250%, 06/05/2020 2,348,348 2,348,054
SUPERVALU, Inc.
       4.500%, 03/21/2019 1,410,228 1,413,362
6,314,808
Financials - 1.2%
Crown Castle Operating Company
       3.000%, 01/31/2021 3,449,434 3,438,223
HUB International, Ltd.
       4.250%, 10/02/2020 2,063,408 2,044,492
La Quinta Intermediate Holdings LLC
       4.000%, 04/14/2021 930,294 932,330
6,415,045
Health care - 2.6%
Biomet, Inc.
       3.674%, 07/25/2017 2,440,448 2,436,890
Catalent Pharma Solutions, Inc.
       4.250%, 05/20/2021 2,501,167 2,510,547
Community Health Systems, Inc.
       4.250%, 01/27/2021 2,148,681 2,158,528
Endo Luxembourg Finance I Company
       Sarl
       3.250%, 03/01/2021 707,850 707,673
Grifols Worldwide Operations USA, Inc.
       3.178%, 02/27/2021 1,863,570 1,861,007
Kindred Healthcare, Inc.
       4.250%, 04/09/2021 729,488 732,223
Mallinckrodt International Finance SA
       3.250%, 03/19/2021 3,205,317 3,195,015
Valeant Pharmaceuticals International, Inc.
       3.500%, 08/05/2020 772,311 771,949
14,373,832
Industrials - 1.2%
AECOM
       3.750%, 10/15/2021 1,421,763 1,432,426
American Builders & Contractors Supply
       Company, Inc.
       3.500%, 04/16/2020 1,472,575 1,466,439
B/E Aerospace, Inc.
       4.000%, 12/16/2021 1,341,638 1,350,861
Delta Air Lines, Inc.
       3.250%, 04/20/2017 871,485 868,422
US Airways, Inc.
       3.500%, 05/23/2019 1,326,900 1,322,398
6,440,546
Information technology - 0.6%
Dell International LLC
       4.500%, 04/29/2020 1,775,565 1,784,936
First Data Corp.
       3.674%, 03/24/2018 593,821 593,202
       4.174%, 03/24/2021 250,936 251,922
IMS Health, Inc.
       3.500%, 03/17/2021 896,174 893,094
3,523,154
Materials - 0.5%
Berry Plastics Group, Inc.
       3.500%, 02/08/2020 1,871,065 1,864,750
Crown Americas LLC
       4.000%, 10/22/2021 773,063 779,706
2,644,456
Telecommunication services - 0.1%
SBA Senior Finance II LLC
       3.250%, 03/24/2021 640,163 636,390
Utilities - 1.0%
Dynegy, Inc.
       4.000%, 04/23/2020 1,769,279 1,770,542
ExGen Texas Power LLC
       5.750%, 09/16/2021 1,556,740 1,561,605
La Frontera Generation LLC
       4.500%, 09/30/2020 1,985,312 1,986,966
5,319,113
TOTAL TERM LOANS (Cost $58,997,633) $ 59,004,011
         
COLLATERALIZED MORTGAGE
OBLIGATIONS - 6.3%
Commercial and residential - 5.8%
Adjustable Rate Mortgage Trust,
       Series 2004-5, Class 2A1
       2.675%, 04/25/2035 (P) 475,514 472,770
American Home Mortgage Assets Trust,
       Series 2006-6, Class XP IO
       2.117%, 12/25/2046 7,703,417 719,129
Americold 2010 LLC Trust,
       Series 2010-ARTA, Class D
       7.443%, 01/14/2029 (S) 645,000 734,085
Banc of America Commercial
       Mortgage Trust, Series 2006-4,
       Class AM 5.675%, 07/10/2046 825,000 872,640

The accompanying notes are an integral part of the financial statements. 252


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (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 Adjustable
       Rate Mortgage Trust
       Series 2004-10, Class 12A3,
              2.709%, 01/25/2035 (P) $ 477,617 $ 472,708
       Series 2005-2, Class A1,
              2.680%, 03/25/2035 (P)   370,683 374,336
       Series 2005-5, Class A2,  
              2.260%, 08/25/2035 (P) 512,622 515,504
Bear Stearns ALT-A Trust
       Series 2004-12, Class 1A1,
              0.873%, 01/25/2035 (P) 417,212 407,877
       Series 2004-13, Class A1,
              0.913%, 11/25/2034 (P) 627,877 623,358
       Series 2004-8, Class 1A,
              0.873%, 09/25/2034 (P) 79,530 77,164
       Series 2005-7, Class 11A1,
              0.713%, 08/25/2035 (P) 297,925 276,526
BWAY Mortgage Trust, Series 2015-1740,
       Class D 3.787%, 01/13/2035 (P)(S) 371,000 369,181
Carefree Portfolio Trust,
       Series 2014-CARE, Class E
       4.175%, 11/15/2019 (P)(S) 695,000 697,029
CDGJ Commercial Mortgage Trust,
       Series 2014-BXCH, Class D
       3.174%, 12/15/2027 (P)(S) 1,005,000 1,006,389
Chase Mortgage Finance Trust,
       Series 2007-A1, Class 2A1
       2.466%, 02/25/2037 (P) 198,601 198,493
Commercial Mortgage Pass
       Through Certificates
       Series 2014-PAT, Class E,
              3.326%, 08/13/2027 (P)(S) 361,000 365,482
       Series 2014-TWC, Class D,
              2.422%, 02/13/2032 (P)(S) 965,000 964,169
DSLA Mortgage Loan Trust
       Series 2004-AR1 Class X2 IO,
              1.916%, 09/19/2044 3,310,613 212,139
       Series 2005-AR2, Class X2 IO,
              2.642%, 03/19/2045 5,892,043 502,625
GAHR Commericial Mortgage Trust,
       Series 2015-NRF, Class EFX
       3.382%, 12/15/2019 (S) 800,000 757,369
GRACE Mortgage Trust,
       Series 2014-GRCE, Class F
       3.590%, 06/10/2028 (P)(S) 600,000 584,124
Greenwich Capital Commercial
       Funding Corp., Series 2006-GG7,
       Class AM 5.784%, 07/10/2038 (P) 90,000 94,225
GSR Mortgage Loan Trust, Series 2004-5,
       Class 2A1 2.597%, 05/25/2034 (P) 861,137 846,168
HarborView Mortgage Loan Trust
       Series 2004-5, Class 2A-6,
              2.196%, 06/19/2034 (P) 518,441 517,533
       Series 2004-7, Class 4A,
              2.636%, 11/19/2034 (P) 582,303 580,224
       Series 2005-2, Class IX IO,
              2.181%, 05/19/2035 2,272,729 155,594
       Series 2005-9, Class 2A1A,
              0.516%, 06/20/2035 (P) 459,754 432,954
       Series 2005-9, Class 2A1C,
              0.626%, 06/20/2035 (P) 312,256 286,078
       Series 2005-8, Class 1X IO,
              2.083%, 09/19/2035 4,854,764 253,875
       Series 2007-3, Class ES IO,
              0.350%, 05/19/2047 (S) 11,340,867 120,497
       Series 2007-4, Class ES IO,
              0.350%, 07/19/2047 11,855,342 118,553
       Series 2007-6, Class ES IO,
              0.342%, 08/19/2037 (S) 9,290,514 98,712
Hilton USA Trust, Series 2013-HLF,
       Class EFL 3.923%, 11/05/2030 (P)(S) 679,971 679,970
IndyMac Index Mortgage Loan Trust
       Series 2005-AR18, Class 1X IO,
              2.075%, 10/25/2036 7,599,453 672,649
       Series 2005-AR18, Class 2X IO,
              1.738%, 10/25/2036 18,163,315 743,310
JPMorgan Chase Commercial
       Mortgage Securities Trust
       Series 2006-LDP7, Class AM,
              5.840%, 04/15/2045 (P) 1,000,000 1,051,139
       Series 2007-CB18, Class A4,
              5.440%, 06/12/2047 612,700 646,981
       Series 2014-INN, Class F,
              4.175%, 06/15/2029 (P)(S) 390,000 387,689
LB-UBS Commercial Mortgage Trust,
       Series 2006-C6, Class AM
       5.413%, 09/15/2039 615,000 648,993
Merrill Lynch Mortgage Investors Trust
       Series 2004-1, Class 2A1,
              2.226%, 12/25/2034 (P) 228,239 222,354
       Series 2005-A2, Class A2,
              2.464%, 02/25/2035 (P) 544,725 544,875
       Series 2006-3, Class 2A1,
              2.284%, 10/25/2036 (P) 247,880 242,741
Merrill Lynch Mortgage Trust,
       Series 2005-LC1, Class AM
       5.307%, 01/12/2044 (P) 885,000 908,923
Merrill Lynch/Countrywide Commercial
       Mortgage Trust, Series 2006-3,
       Class A4 5.414%, 07/12/2046 (P) 575,382 601,529
Morgan Stanley Capital I Trust,
       Series 2014-150E, Class F
       4.295%, 09/09/2032 (P)(S) 695,000 671,518
Morgan Stanley Mortgage Loan Trust
       Series 2004-8AR, Class 4A1,
              2.418%, 10/25/2034 (P) 385,311 381,364
       Series 2004-9, Class 1A,
              5.607%, 11/25/2034 (P) 267,558 277,333
Opteum Mortgage
       Acceptance Corp. Trust, Series 2005-4,
       Class 1APT 0.483%, 11/25/2035 (P) 395,972 371,201
Queens Center Mortgage Trust,
       Series 2013-QCA, Class D
       3.474%, 01/11/2037 (P)(S) 540,000 528,859
SFAVE Commercial Mortgage
       Securities Trust, Series 2015-5AVE,
       Class D 4.388%, 01/05/2035 (P)(S) 635,000 604,945
Structured Asset Securities Corp.,
       Series 2003-7A, Class 3A6
       2.472%, 12/25/2033 (P) 370,536 364,292

The accompanying notes are an integral part of the financial statements. 253


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (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)
WaMu Mortgage Pass
       Through Certificates
       Series 2004-AR14, Class A1,
              2.396%, 01/25/2035 (P) $ 551,229 $ 555,562
       Series 2005-AR19, Class A1A2,
              0.463%, 12/25/2045 (P) 616,039 562,053
       Series 2005-AR2, Class 2A1B,
              0.543%, 01/25/2045 (P) 716,432 658,716
       Series 2005-AR2, Class 2A2B,
              0.553%, 01/25/2045 (P) 494,907 455,456
       Series 2005-AR3, Class A2,
              2.441%, 03/25/2035 (P) 517,639 517,704
       Series 2005-AR6, Class 2A1A,
              0.403%, 04/25/2045 (P) 1,046,211 985,942
       Series 2005-AR8, Class 2AB2,
              0.593%, 07/25/2045 (P) 561,468 518,397
       Series 2005-AR8, Class 2AB3,
              0.533%, 07/25/2045 (P) 549,545 504,508
Wells Fargo Commercial Mortgage Trust,
       Series 2013-BTC, Class E
       3.550%, 04/16/2035 (P)(S) 955,000 895,941
Wells Fargo Mortgage Backed
       Securities Trust, Series 2004-Z,
       Class 2A1 2.614%, 12/25/2034 (P) 525,854 528,531
U.S. Government Agency - 0.5%
Federal Home Loan Mortgage Corp.
       Series 2014-DN2, Class M2,
              1.823%, 04/25/2024 (P) 450,000 447,251
       Series 291, Class IO,
              3.500%, 11/15/2032 1,730,785 314,829
       Series 292, Class IO,
              3.500%, 11/15/2027 1,128,072 163,893
       Series 304, Class C42 IO,
              4.000%, 12/15/2027 1,599,438 183,683
       Series 4077, Class IK IO,
              5.000%, 07/15/2042 1,367,968 290,721
Federal National Mortgage Association
       Series 2012-118, Class AI IO,
              3.500%, 11/25/2037 1,612,535 225,568
       Series 2013-39, Class KI IO,
              4.000%, 05/25/2028 2,217,367 263,417
       Series 402, Class 3 IO,
              4.000%, 11/25/2039 295,420 49,764
       Series 402, Class 4 IO,
              4.000%, 10/25/2039 288,877 44,546
       Series 402, Class 7 IO,
              4.500%, 11/25/2039 329,939 54,113
       Series 406, Class 3 IO,
              4.000%, 01/25/2041 301,942 57,867
       Series 407, Class 4 IO,
              4.500%, 03/25/2041 555,301 110,318
       Series 407, Class 7 IO,
              5.000%, 03/25/2041 1,329,669 253,686
       Series 407, Class 8 IO,
              5.000%, 03/25/2041 666,125 123,487
2,583,143
TOTAL COLLATERALIZED MORTGAGE
OBLIGATIONS (Cost $31,395,904) $ 34,024,128
  
ASSET BACKED SECURITIES - 2.0%
Applebee’s/IHOP Funding LLC,
       Series 2014-1, Class A2
       4.277%, 09/05/2044 (S) 1,948,000 2,016,172
CKE Restaurant Holdings, Inc.,
       Series 2013-1A, Class A2
       4.474%, 03/20/2043 (S) 2,783,900 2,874,126
DB Master Finance LLC, Series 2015-1A,
       Class A2II 3.980%, 02/20/2045 (S) 3,190,000 3,257,685
Home Equity Asset Trust, Series 2003-1,
       Class M1 1.673%, 06/25/2033 (P) 242,558 233,264
New Century Home Equity Loan Trust,
       Series 2005-1, Class M1
       0.848%, 03/25/2035 (P) 760,000 720,830
RASC Series Trust, Series 2005-KS7,
       Class M4 0.753%, 08/25/2035 (P) 340,000 322,033
Specialty Underwriting & Residential
       Finance Trust, Series 2006-BC1,
       Class A2D 0.473%, 12/25/2036 (P) 535,000 518,159
Structured Asset Investment Loan Trust,
       Series 2005-2, Class M2
       0.908%, 03/25/2035 (P) 815,000 757,362
TOTAL ASSET BACKED SECURITIES (Cost $10,490,807) $ 10,699,631
 
COMMON STOCKS - 4.0%
Consumer discretionary - 0.9%
Charter Communications, Inc., Class A (I) 26,089 $ 5,038,047
Vertis Holdings, Inc. (I) 8,371 0
  5,038,047
Financials - 3.1%
American Express Company 6,645 519,107
Ares Capital Corp. 30,530 524,200
Capital One Financial Corp. 21,545 1,698,177
Comerica, Inc. 11,475 517,867
Commerce Bancshares, Inc. 22,457 950,380
Cullen/Frost Bankers, Inc. 7,241 500,208
First Republic Bank 10,630 606,867
Glacier Bancorp, Inc. 21,152 531,973
Investors Bancorp, Inc. 73,647 863,143
MetLife, Inc. 22,931 1,159,162
Park National Corp. 7,109 608,246
Prosperity Bancshares, Inc. 19,793 1,038,737
SunTrust Banks, Inc. 42,025 1,726,807
SVB Financial Group (I) 4,564 579,811
Synovus Financial Corp. 37,548 1,051,719
TCF Financial Corp. 63,800 1,002,936
The PNC Financial Services Group, Inc. 18,510 1,725,872
Union Bankshares Corp. 50,073 1,112,121
16,717,333
TOTAL COMMON STOCKS (Cost $16,029,856) $ 21,755,380
 
PREFERRED SECURITIES - 8.7%
Consumer staples - 0.5%
Post Holdings, Inc., 5.250% 14,805 1,407,067
Tyson Foods, Inc., 4.750% 31,528 1,528,477
2,935,544
Financials - 4.7%
American Tower Corp., 5.250% 13,535 1,399,519
Crown Castle International Corp., 4.500% 22,754 2,385,302
First Tennessee Bank NA, 3.750% (S) 2,005 1,435,768
GMAC Capital Trust I (8.125% to
       02/15/2016, then
       3 month LIBOR + 5.785%) 46,360 1,216,950

The accompanying notes are an integral part of the financial statements. 254


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Strategic Income Opportunities Trust (continued)

Shares or
Principal
Amount       Value
PREFERRED SECURITIES (continued)
Financials (continued)
Health Care REIT, Inc., 6.500% 8,000 $ 537,280
HSBC USA, Inc., 3.500% 45,001 1,039,523
Huntington Bancshares, Inc., 8.500% 1,305 1,739,565
M&T Bank Corp., Series A, 6.375% 1,540 1,539,938
Regions Financial Corp., 6.375% 49,955 1,259,366
SunTrust Banks, Inc., 4.000% 42,525 972,972
The Hartford Financial Services
       Group, Inc. (7.875% to 04/15/2022,
       then 3 month LIBOR + 5.596%) 50,575 1,553,664
U.S. Bancorp, 3.500% 2,061 1,669,451
U.S. Bancorp (6.500% to 01/15/2022, then
       3 month LIBOR + 4.468%) 64,350 1,911,839
Wells Fargo & Company (5.850% to
       09/15/2023, then
       3 month LIBOR + 3.090%) 27,605 732,085
Wells Fargo & Company (6.625% to
       03/15/2024, then
       3 month LIBOR + 3.690%) 36,031 1,017,155
Weyerhaeuser Company, 6.375% 63,700 3,485,664
Zions Bancorporation, 7.900% 43,550 1,199,803
Zions Bancorporation (6.950% to
       09/15/2023, then
       3 month LIBOR + 3.890%) 22,575 622,619
25,718,463
Health care - 0.3%
Actavis PLC, 5.500% (I) 1,510 1,528,120
Industrials - 0.7%
Stanley Black & Decker, Inc., 6.250% 16,070 1,884,208
United Technologies Corp., 7.500% 26,342 1,621,087
3,505,295
Materials - 0.3%
Alcoa, Inc., 5.375% 23,240 1,018,842
ArcelorMittal, 6.000% 19,525 293,266
1,312,108
Utilities - 2.2%
Dominion Resources, Inc., 6.000% 38,600 2,177,040
Dominion Resources, Inc., 6.375% 47,070 2,278,188
Exelon Corp., 6.500% 56,187 2,733,498
Integrys Energy Group, Inc. (6.000% to
       08/01/2023, then
       3 month LIBOR + 3.220%) 18,656 524,420
NextEra Energy, Inc., 5.799% 7,445 415,059
NextEra Energy, Inc., 5.889% 27,190 1,779,042
SCE Trust I, 5.625% 22,260 565,404
The Laclede Group, Inc., 6.750% 29,900 1,617,590
12,090,241
TOTAL PREFERRED SECURITIES (Cost $45,659,986) $ 47,089,771
 
ESCROW CERTIFICATES - 0.0%
Consumer discretionary - 0.0%
Lear Corp., Series B
       8.750%, 12/01/2016 (I) 1,415,000 12,381
TOTAL ESCROW CERTIFICATES (Cost $76) $ 12,381
  
PURCHASED OPTIONS - 0.2%
Call options - 0.2%
Over the Counter on the USD vs. CAD
       (Expiration Date: 01/25/2016; Strike
       Price: $1.35; Counterparty: Toronto-
       Dominion Bank) (I) 9,180,000 159,906
Over the Counter on the USD vs. CAD
       (Expiration Date: 02/24/2016; Strike
       Price: $1.35; Counterparty: The
       Goldman Sachs & Company) (I) 33,505,000 635,288
Over the Counter on the USD vs. CAD
       (Expiration Date: 11/10/2015; Strike
       Price: $1.35; Counterparty: Deutsche
       Bank Securities) (I) 13,790,000 181,614
976,808
TOTAL PURCHASED OPTIONS (Cost $961,672) $ 976,808
 
SHORT-TERM INVESTMENTS - 1.2%
Repurchase agreement - 1.2%
Barclays Tri-Party Repurchase Agreement
       dated 03/31/2015 at 0.130% to be
       repurchased at $3,814,014 on
       04/01/2015, collateralized by
       $3,931,200 U.S. Treasury Inflation
       Indexed Notes, 0.250% due 01/15/2025
       (valued at $3,890,331,
       including interest) $ 3,814,000 $ 3,814,000
Repurchase Agreement with State
       Street Corp. dated 03/31/2015 at
       0.000% to be repurchased at $2,866,614
       on 04/01/2015, collateralized by
       $2,673,500 U.S. Treasury Notes,
       1.500% - 3.625% due 08/31/2018 -
       08/15/2019 (valued at $2,929,042,
       including interest) 2,866,614 2,866,614
6,680,614
TOTAL SHORT-TERM INVESTMENTS (Cost $6,680,614) $ 6,680,614
Total Investments (Strategic Income Opportunities Trust)
       (Cost $525,764,217) - 97.7% $ 530,094,432
Other assets and liabilities, net - 2.3% 12,605,129
TOTAL NET ASSETS - 100.0% $ 542,699,561

Total Bond Market Trust B

Shares or
Principal
Amount       Value
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS - 67.6%
U.S. Government - 36.1%
U.S. Treasury
       2.000%, 02/15/2025 $ 21,150,000 $ 21,283,837
       3.000%, 11/15/2044 13,790,000 15,111,896
U.S. Treasury Bonds
       2.500%, 02/15/2045 1,000,000 991,406
       4.250%, 05/15/2039 to 11/15/2040 4,060,000 5,372,854
       4.375%, 05/15/2041 1,830,000 2,495,663
       4.625%, 02/15/2040 1,400,000 1,955,734
       4.750%, 02/15/2041 2,000,000 2,869,218
       7.500%, 11/15/2016 1,270,000 1,413,966
       7.875%, 02/15/2021 3,400,000 4,618,155
       8.125%, 08/15/2021 1,400,000 1,954,641
       8.750%, 08/15/2020 1,400,000 1,931,234
U.S. Treasury Notes
       0.375%, 04/30/2016 to 10/31/2016 7,900,000 7,892,563

The accompanying notes are an integral part of the financial statements. 255


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (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 (continued)
U.S. Treasury Notes (continued)
       0.500%, 09/30/2016 $ 5,800,000 $ 5,805,440
       0.625%, 12/31/2016 to 04/30/2018 13,600,000 13,581,658
       0.750%, 12/31/2017 3,700,000 3,692,774
       0.875%, 04/30/2017 5,000,000 5,027,735
       1.000%, 03/31/2017 4,000,000 4,032,812
       1.250%, 04/30/2019 to 01/31/2020 2,000,000 1,995,859
       1.375%, 09/30/2018 900,000 909,422
       1.500%, 06/30/2016 to 03/31/2019 22,200,000 22,484,162
       1.625%, 06/30/2019 to 12/31/2019 13,800,000 14,000,452
       1.750%, 09/30/2019 7,000,000 7,133,434
       1.875%, 08/31/2017 2,000,000 2,055,938
       2.000%, 11/15/2021 to 02/15/2022 2,500,000 2,551,680
       2.750%, 02/15/2019 7,000,000 7,416,171
       3.000%, 09/30/2016 to 02/28/2017 6,720,000 7,005,103
       3.125%, 10/31/2016 to 05/15/2021 2,200,000 2,325,524
       3.250%, 06/30/2016 3,650,000 3,780,601
       4.250%, 11/15/2017 7,300,000 7,958,708
179,648,640
U.S. Government Agency - 31.5%
Federal Farm Credit Bank 4.875%, 12/16/2015 900,000 929,277
Federal Home Loan Bank
       0.875%, 05/24/2017 1,000,000 1,003,778
       5.375%, 05/18/2016 2,200,000 2,323,178
       5.500%, 07/15/2036 190,000 266,510
Federal Home Loan Mortgage Corp.
       2.368%, 08/01/2037 (P) 657,108 702,695
       2.500%, 05/27/2016 1,180,000 1,208,027
       2.850%, 02/01/2037 (P) 327,238 349,941
       3.000%, 10/01/2042 3,309,450 3,386,590
       3.500%, 12/01/2025 2,768,441 2,948,503
       3.500%, TBA (C) 4,300,000 4,507,632
       4.000%, 02/01/2024 to 12/01/2040 2,934,668 3,142,959
       4.500%, 05/01/2024 to 11/01/2041 5,627,185 6,159,385
       5.000%, TBA (C) 2,300,000 2,550,484
       5.000%, 06/01/2023 to 10/01/2040 1,323,154 1,475,580
       5.500%, 08/23/2017 to 01/01/2039 3,316,709 3,713,060
       6.000%, 06/01/2022 to 10/01/2038 935,275 1,067,069
       6.250%, 07/15/2032 450,000 668,617
       6.500%, 07/01/2016 to 09/01/2038 291,070 331,966
       6.750%, 09/15/2029 1,200,000 1,816,304
       7.000%, 02/01/2016 to 10/01/2038 156,839 181,752
       7.500%, 02/01/2016 to 03/01/2032 18,106 21,756
       8.000%, 02/01/2030 2,449 2,983
Federal National Mortgage Association
       1.793%, 07/01/2034 (P) 416,655 434,777
       1.882%, 01/01/2035 (P) 788,478 830,300
       2.168%, 09/01/2037 (P) 320,591 340,252
       2.317%, 05/01/2036 (P) 200,425 214,361
       2.360%, 04/01/2037 (P) 984,841 1,053,164
       2.391%, 10/01/2037 (P) 103,526 110,708
       2.500%, 05/01/2028 to 04/20/2030 6,128,372 6,301,988
       2.575%, 04/01/2036 (P) 110,723 118,405
       3.000%, 01/01/2027 to 04/14/2045 23,231,900 23,960,648
       3.500%, 12/01/2025 to 04/14/2045 16,432,581 17,335,867
       4.000%, 08/01/2020 to 05/01/2042 7,238,212 7,761,859
       4.500%, 06/01/2018 to 06/01/2041 7,265,899 7,914,891
       5.000%, 12/01/2018 to 07/01/2039 3,956,602 4,398,214
       5.500%, 08/01/2017 to 11/01/2038 2,750,001 3,085,288
       6.000%, 01/01/2021 to 08/01/2038 1,880,877 2,140,384
       6.500%, 07/01/2016 to 12/01/2037 503,819 579,539
       7.000%, 12/01/2015 to 10/01/2038 190,879 221,517
       7.125%, 01/15/2030 209,000 324,587
       7.250%, 05/15/2030 1,450,000 2,299,681
       7.500%, 09/01/2030 to 08/01/2031 37,558 45,283
       8.000%, 08/01/2030 to 09/01/2031 10,670 12,963
       8.500%, 09/01/2030 1,343 1,675
Government National Mortgage Association
       3.000%, 08/15/2043 to 04/22/2045 8,256,769 8,503,600
       3.500%, 01/15/2043 to 04/22/2045 8,975,591 9,489,193
       4.000%, 11/15/2026 to 02/15/2041 6,863,733 7,369,297
       4.500%, 05/15/2019 to 10/20/2040 4,177,734 4,597,921
       5.000%, 05/15/2018 to 07/20/2040 3,471,541 3,880,871
       5.500%, 08/15/2023 to 09/20/2039 1,247,751 1,401,040
       6.000%, 04/15/2017 to 10/15/2038 726,847 834,242
       6.500%, 01/15/2016 to 12/15/2038 417,950 487,157
       7.000%, 08/15/2029 to 05/15/2032 69,855 82,780
       7.500%, 08/15/2029 to 01/15/2031 22,420 27,159
       8.000%, 04/15/2031 8,796 10,814
       8.500%, 09/15/2030 5,892 7,404
       9.000%, 01/15/2031 1,454 1,827
Tennessee Valley Authority
       3.875%, 02/15/2021 700,000 781,640
The Financing Corp. 8.600%, 09/26/2019 675,000 881,168
  156,600,510
TOTAL U.S. GOVERNMENT AND AGENCY
OBLIGATIONS (Cost $322,886,655) $ 336,249,150
   
FOREIGN GOVERNMENT
OBLIGATIONS - 3.2%
Brazil - 0.4%
Federative Republic of Brazil
       4.250%, 01/07/2025 1,612,000 1,579,760
       5.875%, 01/15/2019 105,000 115,500
1,695,260
Canada - 0.8%
Government of Canada
       0.875%, 02/14/2017 250,000 251,229
Province of British Columbia
       6.500%, 01/15/2026 490,000 667,061
Province of Manitoba
       9.625%, 12/01/2018 300,000 380,796
Province of New Brunswick
       5.200%, 02/21/2017 380,000 410,847
Province of Nova Scotia
       5.125%, 01/26/2017 455,000 490,634
Province of Ontario
       1.100%, 10/25/2017 1,000,000 1,001,943
Province of Quebec
       7.125%, 02/09/2024 150,000 201,832
       7.500%, 07/15/2023 410,000 562,734
3,967,076
Chile - 0.1%
Republic of Chile
       3.875%, 08/05/2020 510,000 556,665
Colombia - 0.1%
Republic of Colombia
       4.375%, 07/12/2021 550,000 583,550

The accompanying notes are an integral part of the financial statements. 256


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Total Bond Market Trust B (continued)

Shares or
Principal
Amount       Value
FOREIGN GOVERNMENT
OBLIGATIONS (continued)
Israel - 0.2%
Government of Israel
       5.125%, 03/26/2019 $ 530,000 $ 600,225
       5.500%, 09/18/2023 455,000 565,866
1,166,091
Italy - 0.1%
Republic of Italy
       6.875%, 09/27/2023 300,000 387,755
Japan - 0.3%
Japan Bank for International Cooperation
       2.250%, 07/13/2016 1,250,000 1,275,573
Mexico - 0.3%
Government of Mexico
       5.950%, 03/19/2019 415,000 474,138
       6.050%, 01/11/2040 930,000 1,148,550
1,622,688
Panama - 0.1%
Republic of Panama
       6.700%, 01/26/2036 370,000 484,700
Peru - 0.1%
Republic of Peru
       6.550%, 03/14/2037 250,000 332,813
       7.125%, 03/30/2019 120,000 143,400
476,213
Philippines - 0.2%
Republic of Philippines
       4.000%, 01/15/2021 1,000,000 1,094,746
Poland - 0.0%
Republic of Poland
       6.375%, 07/15/2019 110,000 129,388
South Africa - 0.2%
Republic of South Africa
       5.500%, 03/09/2020 740,000 811,684
Turkey - 0.3%
Republic of Turkey
       6.000%, 01/14/2041 400,000 454,580
       6.250%, 09/26/2022 400,000 455,000
       7.500%, 07/14/2017 400,000 445,040
1,354,620
TOTAL FOREIGN GOVERNMENT
OBLIGATIONS (Cost $14,806,111) $ 15,606,009
  
CORPORATE BONDS - 25.1%
Consumer discretionary - 2.0%
21st Century Fox America, Inc.
       6.650%, 11/15/2037 440,000 593,395
Brinker International, Inc.
       3.875%, 05/15/2023 250,000 250,092
CBS Corp.
       4.300%, 02/15/2021 150,000 162,028
Comcast Corp.
       5.700%, 07/01/2019 310,000 358,625
       6.500%, 11/15/2035 255,000 346,632
Cox Communications, Inc.
       9.375%, 01/15/2019 (S) 125,000 157,562
DIRECTV Holdings LLC
       5.150%, 03/15/2042 50,000 52,336
       6.375%, 03/01/2041 360,000 426,280
Discovery Communications LLC
       5.625%, 08/15/2019 250,000 283,564
Ford Motor Credit Company LLC
       5.000%, 05/15/2018 1,040,000 1,133,910
Grupo Televisa SAB
       6.625%, 01/15/2040 220,000 271,330
Hyatt Hotels Corp.
       3.375%, 07/15/2023 250,000 252,652
Johnson Controls, Inc.
       5.700%, 03/01/2041 150,000 182,938
Lowe’s Companies, Inc.
       5.800%, 10/15/2036 140,000 179,399
       6.100%, 09/15/2017 180,000 201,879
McDonald’s Corp.
       3.625%, 05/20/2021 250,000 269,993
       5.000%, 02/01/2019 228,000 256,402
NBCUniversal Media LLC
       5.150%, 04/30/2020 230,000 263,970
O’Reilly Automotive, Inc.
       4.875%, 01/14/2021 300,000 334,652
Target Corp.
       6.500%, 10/15/2037 288,000 400,764
TCI Communications, Inc.
       7.125%, 02/15/2028 110,000 151,285
The Home Depot, Inc.
       5.875%, 12/16/2036 280,000 370,645
The Walt Disney Company
       5.625%, 09/15/2016 340,000 364,655
Thomson Reuters Corp.
       4.500%, 05/23/2043 250,000 255,674
Time Warner Cable, Inc.
       4.125%, 02/15/2021 60,000 64,529
Time Warner Companies, Inc.
       7.250%, 10/15/2017 100,000 114,488
       7.570%, 02/01/2024 240,000 313,998
Time Warner Entertainment Company LP
       8.375%, 07/15/2033 525,000 770,002
Time Warner, Inc.
       7.625%, 04/15/2031 285,000 398,522
Toyota Motor Credit Corp.
       3.400%, 09/15/2021 320,000 340,266
Viacom, Inc.
       4.250%, 09/15/2015 150,000 152,404
       4.500%, 03/01/2021 120,000 130,038
Volkswagen International Finance NV
       2.875%, 04/01/2016 (S) 60,000 61,249
9,866,158
Consumer staples - 1.8%
Altria Group, Inc.
       4.125%, 09/11/2015 150,000 152,259
       9.250%, 08/06/2019 105,000 134,724
       9.950%, 11/10/2038 17,000 29,506
Anheuser-Busch InBev Worldwide, Inc.
       6.875%, 11/15/2019 460,000 557,935
       7.750%, 01/15/2019 335,000 405,208
Bottling Group LLC
       5.125%, 01/15/2019 105,000 118,201
Brown-Forman Corp.
       2.500%, 01/15/2016 300,000 304,242
Bunge, Ltd. Finance Corp.
       8.500%, 06/15/2019 160,000 197,141
Campbell Soup Company
       4.500%, 02/15/2019 300,000 326,725

The accompanying notes are an integral part of the financial statements. 257


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Total Bond Market Trust B (continued)

Shares or
Principal
Amount       Value
CORPORATE BONDS (continued)
Consumer staples (continued)
ConAgra Foods, Inc.
       5.819%, 06/15/2017 $ 38,000 $ 41,342
       7.000%, 04/15/2019 118,000 137,956
       9.750%, 03/01/2021 175,000 229,043
CVS Health Corp.
       4.125%, 05/15/2021 60,000 65,935
CVS Pass-Through Trust
       8.353%, 07/10/2031 (S) 88,388 121,182
Diageo Capital PLC
       4.828%, 07/15/2020 95,000 107,916
Dr. Pepper Snapple Group, Inc.
       2.900%, 01/15/2016 500,000 508,015
Energizer Holdings, Inc.
       4.700%, 05/19/2021 250,000 264,333
General Mills, Inc.
       5.650%, 02/15/2019 315,000 358,188
Kellogg Company
       4.150%, 11/15/2019 30,000 32,523
Kimberly-Clark Corp.
       7.500%, 11/01/2018 250,000 300,498
Kraft Foods Group, Inc.
       6.125%, 08/23/2018 66,000 74,926
       6.875%, 01/26/2039 40,000 53,236
PepsiCo, Inc.
       4.000%, 03/05/2042 270,000 277,310
       5.500%, 01/15/2040 280,000 349,826
Philip Morris International, Inc.
       3.600%, 11/15/2023 250,000 264,724
       4.125%, 05/17/2021 320,000 351,299
Reynolds American, Inc.
       3.250%, 11/01/2022 270,000 268,664
Safeway, Inc.
       6.350%, 08/15/2017 27,000 28,823
SC Johnson & Son, Inc.
       4.000%, 05/15/2043 (S) 250,000 256,436
The Clorox Company
       5.950%, 10/15/2017 295,000 328,210
The Coca-Cola Company
       3.150%, 11/15/2020 560,000 595,475
The Kroger Company
       3.900%, 10/01/2015 150,000 152,302
       6.400%, 08/15/2017 370,000 412,477
The Procter & Gamble Company
       5.500%, 02/01/2034 50,000 65,264
Wal-Mart Stores, Inc.
       4.125%, 02/01/2019 100,000 109,730
       6.200%, 04/15/2038 125,000 170,230
       7.550%, 02/15/2030 410,000 618,364
Walgreen Company
       5.250%, 01/15/2019 335,000 375,636
9,145,804
Energy - 3.2%
Anadarko Petroleum Corp.
       6.450%, 09/15/2036 280,000 347,372
Apache Corp.
       3.625%, 02/01/2021 250,000 262,568
BP Capital Markets PLC
       1.375%, 11/06/2017 500,000 499,665
       2.750%, 05/10/2023 250,000 243,876
Canadian Natural Resources, Ltd.
       6.250%, 03/15/2038 290,000 339,683
Cenovus Energy, Inc.
       5.700%, 10/15/2019 40,000 44,588
Chevron Corp.
       1.961%, 03/03/2020 850,000 855,443
       4.950%, 03/03/2019 90,000 100,971
ConocoPhillips
       5.750%, 02/01/2019 100,000 114,846
DCP Midstream LLC
       9.750%, 03/15/2019 (S) 95,000 105,711
Devon Financing Corp. ULC
       7.875%, 09/30/2031 170,000 231,734
Enbridge Energy Partners LP
       9.875%, 03/01/2019 125,000 157,412
Encana Corp.
       6.500%, 08/15/2034 270,000 312,576
Energy Transfer Partners LP
       6.500%, 02/01/2042 50,000 58,005
       6.700%, 07/01/2018 250,000 283,860
Ensco PLC
       4.700%, 03/15/2021 360,000 363,862
Enterprise Products Operating LLC
       4.850%, 08/15/2042 280,000 299,374
       6.875%, 03/01/2033 130,000 170,670
EOG Resources, Inc.
       4.100%, 02/01/2021 300,000 323,824
Exxon Mobil Corp.
       2.397%, 03/06/2022 750,000 757,250
Halliburton Company
       6.150%, 09/15/2019 360,000 422,959
Hess Corp.
       8.125%, 02/15/2019 280,000 336,181
Kinder Morgan Energy Partners LP
       6.375%, 03/01/2041 60,000 67,043
       6.500%, 09/01/2039 180,000 204,862
       9.000%, 02/01/2019 60,000 73,086
Magellan Midstream Partners LP
       6.550%, 07/15/2019 180,000 210,941
Nabors Industries, Inc.
       9.250%, 01/15/2019 105,000 122,015
Nexen Energy ULC
       6.200%, 07/30/2019 120,000 137,242
Noble Holding International, Ltd.
       6.050%, 03/01/2041 50,000 42,681
Occidental Petroleum Corp.
       4.100%, 02/01/2021 300,000 328,987
ONEOK Partners LP
       6.650%, 10/01/2036 268,000 284,597
Petro-Canada
       5.950%, 05/15/2035 235,000 281,241
       6.050%, 05/15/2018 125,000 140,465
Petrobras Global Finance BV
       4.375%, 05/20/2023 365,000 312,112
       5.375%, 01/27/2021 400,000 362,800
Petrobras International Finance Company SA
       6.750%, 01/27/2041 80,000 70,797
       8.375%, 12/10/2018 90,000 92,700
Petroleos Mexicanos
       4.875%, 01/18/2024 500,000 529,250
       5.500%, 01/21/2021 320,000 351,200
       6.625%, 06/15/2035 230,000 263,350
Plains All American Pipeline LP
       8.750%, 05/01/2019 60,000 74,785
Shell International Finance BV
       0.900%, 11/15/2016 500,000 502,414
       6.375%, 12/15/2038 90,000 124,623

The accompanying notes are an integral part of the financial statements. 258


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Total Bond Market Trust B (continued)

Shares or
Principal
Amount       Value
CORPORATE BONDS (continued)
Energy (continued)
Southern Natural Gas Company LLC
       4.400%, 06/15/2021 $ 250,000 $ 261,079
Statoil ASA
       1.800%, 11/23/2016 580,000 588,951
Sunoco Logistics Partners Operations LP
       3.450%, 01/15/2023 170,000 167,266
Talisman Energy, Inc.
       3.750%, 02/01/2021 60,000 59,037
       6.250%, 02/01/2038 110,000 118,949
       7.750%, 06/01/2019 150,000 173,091
The Williams Companies, Inc.
       7.875%, 09/01/2021 190,000 220,562
Tosco Corp.
       8.125%, 02/15/2030 383,000 564,196
Total Capital SA
       3.125%, 10/02/2015 40,000 40,518
       4.125%, 01/28/2021 40,000 44,133
       4.250%, 12/15/2021 60,000 66,802
TransCanada PipeLines, Ltd.
       5.850%, 03/15/2036 405,000 486,201
Valero Energy Corp.
       6.125%, 06/15/2017 345,000 379,614
       7.500%, 04/15/2032 270,000 350,881
Weatherford International, Ltd.
       5.500%, 02/15/2016 340,000 349,840
       6.000%, 03/15/2018 185,000 194,433
Williams Partners LP
       5.250%, 03/15/2020 400,000 440,369
15,715,543
Financials - 9.4%
AEGON Funding Company LLC
       5.750%, 12/15/2020 165,000 190,837
African Development Bank
       6.875%, 10/15/2015 145,000 149,325
Allied World Assurance Company
       Holdings, Ltd.
       7.500%, 08/01/2016 325,000 350,762
American Express Company
       2.650%, 12/02/2022 345,000 343,826
American Express Credit Corp.
       2.800%, 09/19/2016 400,000 411,196
American Honda Finance Corp.
       2.150%, 03/13/2020 250,000 252,261
American International Group, Inc.
       6.250%, 05/01/2036 430,000 560,479
American Tower Corp.
       4.500%, 01/15/2018 310,000 332,383
Asian Development Bank
       5.593%, 07/16/2018 590,000 667,165
Bank of America Corp.
       2.000%, 01/11/2018 500,000 503,702
       5.000%, 05/13/2021 820,000 925,600
       5.650%, 05/01/2018 500,000 554,550
       5.875%, 01/05/2021 350,000 409,085
       6.500%, 08/01/2016 80,000 85,371
       6.875%, 04/25/2018 to 11/15/2018 397,000 456,023
       7.750%, 05/14/2038 480,000 691,296
Barclays Bank PLC
       6.750%, 05/22/2019 240,000 284,506
BB&T Corp.
       5.200%, 12/23/2015 335,000 345,542
Berkshire Hathaway Finance Corp.
       4.250%, 01/15/2021 60,000 67,240
       5.400%, 05/15/2018 105,000 118,211
Boston Properties LP
       4.125%, 05/15/2021 300,000 325,584
Capital One Bank USA NA
       3.375%, 02/15/2023 360,000 364,607
Capital One Financial Corp.
       3.200%, 02/05/2025 1,000,000 991,698
Citigroup, Inc.
       2.400%, 02/18/2020 1,500,000 1,505,352
       5.500%, 09/13/2025 400,000 453,356
       8.500%, 05/22/2019 277,000 344,970
CNA Financial Corp.
       7.350%, 11/15/2019 280,000 336,811
Credit Suisse/New York
       3.000%, 10/29/2021 750,000 763,934
Deutsche Bank AG
       3.250%, 01/11/2016 500,000 509,569
Discover Financial Services
       5.200%, 04/27/2022 120,000 133,616
Essex Portfolio LP
       5.200%, 03/15/2021 60,000 67,647
European Bank for Reconstruction
       & Development
       1.000%, 09/17/2018 500,000 495,642
       1.625%, 09/03/2015 70,000 70,375
European Investment Bank
       1.750%, 06/17/2019 1,750,000 1,780,193
       2.875%, 09/15/2020 700,000 747,963
       4.625%, 10/20/2015 495,000 506,672
       4.875%, 01/17/2017 200,000 214,831
Fifth Third Bancorp
       5.450%, 01/15/2017 300,000 320,998
General Electric Capital Corp.
       6.000%, 08/07/2019 650,000 759,317
       6.750%, 03/15/2032 230,000 318,150
       6.875%, 01/10/2039 585,000 841,621
Glencore Finance Canada, Ltd.
       5.800%, 11/15/2016 (S) 105,000 111,731
HCP, Inc.
       3.875%, 08/15/2024 400,000 406,481
Health Care REIT, Inc.
       4.950%, 01/15/2021 320,000 355,444
HSBC Holdings PLC
       6.500%, 09/15/2037 660,000 842,221
HSBC USA, Inc.
       2.350%, 03/05/2020 1,000,000 1,005,930
Inter-American Development Bank
       2.250%, 07/15/2015 830,000 834,836
       7.000%, 06/15/2025 325,000 457,031
International Bank for Reconstruction
       & Development
       1.000%, 09/15/2016 500,000 502,924
       2.125%, 11/01/2020 500,000 515,217
       8.625%, 10/15/2016 100,000 111,700
International Finance Corp.
       0.875%, 06/15/2018 600,000 593,621
Jefferies Group LLC
       5.125%, 04/13/2018 330,000 346,931
John Deere Capital Corp.
       1.700%, 01/15/2020 550,000 545,201
JPMorgan Chase & Co.
       1.100%, 10/15/2015 290,000 290,729

The accompanying notes are an integral part of the financial statements. 259


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Total Bond Market Trust B (continued)

Shares or
Principal
Amount       Value
CORPORATE BONDS (continued)
Financials (continued)
JPMorgan Chase & Co. (continued)
       3.375%, 05/01/2023 $ 500,000 $ 503,363
       4.350%, 08/15/2021 710,000 780,977
       6.400%, 05/15/2038 125,000 167,719
KeyCorp
       5.100%, 03/24/2021 250,000 283,939
KFW
       1.000%, 06/11/2018 500,000 498,964
       1.875%, 04/01/2019 1,000,000 1,021,678
       4.375%, 03/15/2018 360,000 395,230
       5.125%, 03/14/2016 780,000 814,967
Kimco Realty Corp.
       6.875%, 10/01/2019 60,000 71,405
Landwirtschaftliche Rentenbank
       5.125%, 02/01/2017 75,000 81,007
Lincoln National Corp.
       7.000%, 06/15/2040 150,000 207,646
MetLife, Inc.
       6.750%, 06/01/2016 150,000 160,078
       6.817%, 08/15/2018 190,000 221,403
Moody’s Corp.
       5.500%, 09/01/2020 60,000 68,515
Morgan Stanley
       2.650%, 01/27/2020 300,000 304,724
       4.100%, 05/22/2023 750,000 780,533
       5.950%, 12/28/2017 435,000 482,184
       6.625%, 04/01/2018 503,000 572,004
       7.300%, 05/13/2019 110,000 131,595
MUFG Union Bank NA
       5.950%, 05/11/2016 250,000 263,370
National Rural Utilities Cooperative
       Finance Corp.
       10.375%, 11/01/2018 180,000 233,214
Nomura Holdings, Inc.
       4.125%, 01/19/2016 110,000 112,552
Northern Trust Corp.
       3.450%, 11/04/2020 300,000 323,831
Oesterreichische Kontrollbank AG
       4.875%, 02/16/2016 295,000 306,360
PartnerRe Finance A LLC
       6.875%, 06/01/2018 250,000 284,576
PartnerRe Finance B LLC
       5.500%, 06/01/2020 60,000 68,298
Plum Creek Timberlands LP
       4.700%, 03/15/2021 150,000 165,660
PNC Funding Corp.
       4.250%, 09/21/2015 40,000 40,664
       5.625%, 02/01/2017 310,000 333,206
       6.700%, 06/10/2019 310,000 368,747
Prudential Financial, Inc.
       4.750%, 09/17/2015 290,000 295,174
       5.375%, 06/21/2020 280,000 321,702
Rabobank Nederland NV
       4.500%, 01/11/2021 500,000 559,763
Reinsurance Group of America, Inc.
       5.000%, 06/01/2021 50,000 55,920
Royal Bank of Canada
       2.200%, 07/27/2018 600,000 612,834
Senior Housing Properties Trust
       4.300%, 01/15/2016 110,000 111,651
Simon Property Group LP
       5.650%, 02/01/2020 330,000 382,009
State Street Corp.
       3.100%, 05/15/2023 250,000 252,877
Stifel Financial Corp.
       4.250%, 07/18/2024 500,000 510,398
SunTrust Banks, Inc.
       6.000%, 09/11/2017 435,000 480,975
The Bank of New York Mellon Corp.
       2.500%, 01/15/2016 150,000 152,294
The Bank of Nova Scotia
       2.900%, 03/29/2016 580,000 593,887
The Bear Stearns Companies LLC
       7.250%, 02/01/2018 710,000 817,282
The Chubb Corp.
       5.750%, 05/15/2018 275,000 310,996
The Goldman Sachs Group, Inc.
       3.625%, 01/22/2023 500,000 517,187
       6.125%, 02/15/2033 375,000 478,348
       6.150%, 04/01/2018 735,000 826,194
       7.500%, 02/15/2019 240,000 286,435
The Hartford Financial Services Group, Inc.
       5.950%, 10/15/2036 170,000 215,603
The Travelers Companies, Inc.
       5.900%, 06/02/2019 310,000 360,749
       6.250%, 06/20/2016 190,000 202,792
Travelers Property Casualty Corp.
       7.750%, 04/15/2026 50,000 68,414
U.S. Bancorp
       2.450%, 07/27/2015 280,000 281,806
U.S. Bank NA (3.778% to 04/29/2015 then
       3 month LIBOR + 2.003%)
       04/29/2020 230,000 230,415
UBS AG
       5.750%, 04/25/2018 185,000 206,908
Ventas Realty LP
       3.125%, 11/30/2015 150,000 152,128
       4.750%, 06/01/2021 60,000 66,239
Wells Fargo & Company
       3.450%, 02/13/2023 750,000 767,404
       5.625%, 12/11/2017 185,000 205,505
46,844,561
Health care - 2.2%
Abbott Laboratories
       2.950%, 03/15/2025 300,000 303,563
AbbVie, Inc.
       2.900%, 11/06/2022 500,000 496,986
Actavis Funding SCS
       4.750%, 03/15/2045 700,000 742,881
Aetna, Inc.
       3.950%, 09/01/2020 290,000 315,866
Agilent Technologies, Inc.
       3.875%, 07/15/2023 250,000 256,345
Amgen, Inc.
       5.150%, 11/15/2041 100,000 115,188
       5.700%, 02/01/2019 450,000 514,603
       5.750%, 03/15/2040 40,000 48,627
Anthem, Inc.
       4.650%, 08/15/2044 150,000 165,158
       6.375%, 06/15/2037 345,000 448,593
AstraZeneca PLC
       5.900%, 09/15/2017 340,000 378,275
Baxter International, Inc.
       5.900%, 09/01/2016 315,000 336,274

The accompanying notes are an integral part of the financial statements. 260


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Total Bond Market Trust B (continued)

Shares or
Principal
Amount       Value
CORPORATE BONDS (continued)
Health care (continued)
Becton, Dickinson and Company
       3.250%, 11/12/2020 $ 300,000 $ 311,976
Bristol-Myers Squibb Company
       6.800%, 11/15/2026 195,000 262,088
Cigna Corp.
       4.000%, 02/15/2022 280,000 305,223
Covidien International Finance SA
       6.000%, 10/15/2017 360,000 401,401
Eli Lilly & Company
       7.125%, 06/01/2025 250,000 339,167
Gilead Sciences, Inc.
       4.500%, 04/01/2021 330,000 370,872
GlaxoSmithKline Capital, Inc.
       6.375%, 05/15/2038 210,000 285,229
Johnson & Johnson
       2.150%, 05/15/2016 320,000 326,053
       5.850%, 07/15/2038 285,000 395,363
Laboratory Corp. of America Holdings
       4.625%, 11/15/2020 280,000 307,791
Life Technologies Corp.
       5.000%, 01/15/2021 310,000 346,203
McKesson Corp.
       4.750%, 03/01/2021 150,000 167,407
Medtronic, Inc.
       5.600%, 03/15/2019 165,000 189,135
Merck & Company, Inc.
       2.750%, 02/10/2025 850,000 850,040
Mylan, Inc.
       2.600%, 06/24/2018 250,000 255,242
Novartis Securities Investment, Ltd.
       5.125%, 02/10/2019 80,000 90,285
Pharmacia Corp.
       6.500%, 12/01/2018 335,000 391,500
Quest Diagnostics, Inc.
       4.700%, 03/30/2045 500,000 510,632
       5.450%, 11/01/2015 30,000 30,861
UnitedHealth Group, Inc.
       4.375%, 03/15/2042 50,000 55,055
       5.800%, 03/15/2036 300,000 386,738
10,700,620
Industrials - 1.4%
Burlington Northern Santa Fe LLC
       4.400%, 03/15/2042 50,000 53,392
       4.700%, 10/01/2019 250,000 280,029
Canadian Pacific Railway Company
       4.450%, 03/15/2023 300,000 333,912
Caterpillar, Inc.
       3.400%, 05/15/2024 500,000 524,226
       7.900%, 12/15/2018 95,000 115,792
CSX Corp.
       3.700%, 10/30/2020 270,000 290,877
       6.250%, 04/01/2015 138,000 138,000
       7.375%, 02/01/2019 105,000 126,121
Emerson Electric Company
       4.875%, 10/15/2019 250,000 282,515
FedEx Corp.
       3.875%, 08/01/2042 420,000 405,367
       8.000%, 01/15/2019 50,000 60,626
Fluor Corp.
       3.375%, 09/15/2021 320,000 334,122
Ingersoll-Rand Global Holding Company, Ltd.
       6.875%, 08/15/2018 340,000 395,021
Koninklijke Philips NV
       6.875%, 03/11/2038 250,000 337,112
L-3 Communications Corp.
       4.750%, 07/15/2020 150,000 163,514
Norfolk Southern Corp.
       4.837%, 10/01/2041 240,000 276,165
Northrop Grumman Corp.
       3.500%, 03/15/2021 150,000 158,101
Pitney Bowes, Inc.
       6.250%, 03/15/2019 180,000 204,288
Ryder System, Inc.
       2.450%, 11/15/2018 250,000 254,267
Snap-on, Inc.
       6.125%, 09/01/2021 310,000 373,620
The Boeing Company
       8.750%, 09/15/2031 90,000 145,037
Tyco Electronics Group SA
       6.550%, 10/01/2017 500,000 560,461
Union Pacific Corp.
       4.000%, 02/01/2021 280,000 309,718
       4.821%, 02/01/2044 285,000 338,649
United Technologies Corp.
       5.375%, 12/15/2017 100,000 111,073
       6.125%, 02/01/2019 245,000 285,285
6,857,290
Information technology - 1.1%
Apple, Inc.
       2.400%, 05/03/2023 800,000 789,601
Cisco Systems, Inc.
       3.150%, 03/14/2017 360,000 376,435
       5.900%, 02/15/2039 80,000 102,823
eBay, Inc.
       3.250%, 10/15/2020 250,000 258,569
Google, Inc.
       3.625%, 05/19/2021 320,000 348,310
Hewlett-Packard Company
       2.125%, 09/13/2015 290,000 291,839
       3.750%, 12/01/2020 300,000 314,608
IBM Corp.
       2.000%, 01/05/2016 330,000 334,044
       4.000%, 06/20/2042 210,000 211,115
       5.600%, 11/30/2039 21,000 25,865
Intel Corp.
       2.700%, 12/15/2022 690,000 695,767
Leidos Holdings, Inc.
       4.450%, 12/01/2020 300,000 298,625
Microsoft Corp.
       3.750%, 05/01/2043 500,000 504,493
Oracle Corp.
       5.750%, 04/15/2018 435,000 491,417
The Western Union Company
       3.650%, 08/22/2018 100,000 104,997
Xerox Corp.
       6.750%, 12/15/2039 60,000 74,173
XLIT, Ltd.
       5.750%, 10/01/2021 310,000 364,665
5,587,346
Materials - 1.1%
Agrium, Inc.
       6.750%, 01/15/2019 350,000 407,604
Barrick North America Finance LLC
       4.400%, 05/30/2021 250,000 256,742

The accompanying notes are an integral part of the financial statements. 261


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Total Bond Market Trust B (continued)

Shares or    
Principal    
Amount       Value
CORPORATE BONDS (continued)
Materials (continued)
BHP Billiton Finance USA, Ltd.
       6.500%, 04/01/2019 $ 300,000 $ 353,201
CRH America, Inc.
       8.125%, 07/15/2018 220,000 261,966
E.I. du Pont de Nemours & Company
       3.625%, 01/15/2021 180,000 192,518
Freeport-McMoRan, Inc.
       3.875%, 03/15/2023 500,000 463,203
Newmont Mining Corp.
       4.875%, 03/15/2042 270,000 240,268
Potash Corp. of Saskatchewan, Inc.
       5.625%, 12/01/2040 150,000 188,093
PPG Industries, Inc.
       3.600%, 11/15/2020 300,000 316,592
Praxair, Inc.
       2.450%, 02/15/2022 240,000 240,741
Rio Tinto Alcan, Inc.
       6.125%, 12/15/2033 100,000 121,420
Rio Tinto Finance USA PLC
       4.750%, 03/22/2042 270,000 289,835
Rio Tinto Finance USA, Ltd.
       5.200%, 11/02/2040 250,000 281,854
       6.500%, 07/15/2018 70,000 80,405
Teck Resources, Ltd.
       4.500%, 01/15/2021 70,000 71,344
       6.250%, 07/15/2041 270,000 262,256
The Dow Chemical Company
       4.375%, 11/15/2042 590,000 595,354
       5.700%, 05/15/2018 49,000 55,093
       9.400%, 05/15/2039 130,000 215,199
Vale Overseas, Ltd.
       6.875%, 11/10/2039 350,000 342,129
5,235,817
Telecommunication services - 1.2%
America Movil SAB de CV
       3.125%, 07/16/2022 500,000 508,550
       5.000%, 03/30/2020 61,000 69,126
AT&T, Inc.
       3.000%, 02/15/2022 500,000 501,710
       4.300%, 12/15/2042 20,000 19,072
       5.350%, 09/01/2040 400,000 436,571
British Telecommunications PLC
       9.625%, 12/15/2030 190,000 313,054
Deutsche Telekom International Finance BV
       8.750%, 06/15/2030 146,000 222,096
Telefonica Emisiones SAU
       7.045%, 06/20/2036 230,000 317,732
Telefonica Europe BV
       8.250%, 09/15/2030 350,000 509,889
Verizon Communications, Inc.
       2.625%, 02/21/2020 880,000 895,889
       4.272%, 01/15/2036 (S) 947,000 939,852
       4.522%, 09/15/2048 (S) 260,000 257,968
       4.600%, 04/01/2021 650,000 721,948
Vodafone Group PLC
       4.375%, 03/16/2021 110,000 121,934
       5.450%, 06/10/2019 320,000 363,453
6,198,844
Utilities - 1.7%
CenterPoint Energy Resources Corp.
       4.500%, 01/15/2021 246,000 274,608
Consolidated Edison Company of New
       York, Inc.
       7.125%, 12/01/2018 295,000 351,367
Constellation Energy Group, Inc.
       5.150%, 12/01/2020 310,000 350,167
Dominion Resources, Inc.
       5.200%, 08/15/2019 110,000 123,814
DTE Energy Company
       6.350%, 06/01/2016 230,000 244,473
Duke Energy Carolinas LLC
       6.000%, 01/15/2038 200,000 271,966
       7.000%, 11/15/2018 290,000 344,809
Entergy Corp.
       5.125%, 09/15/2020 310,000 344,733
Entergy Texas, Inc.
       7.125%, 02/01/2019 50,000 59,484
Exelon Generation Company LLC
       6.250%, 10/01/2039 160,000 194,846
Florida Power & Light Company
       5.650%, 02/01/2037 290,000 380,478
Georgia Power Company
       5.950%, 02/01/2039 335,000 441,042
Hydro-Quebec
       8.400%, 01/15/2022 250,000 339,358
Indiana Michigan Power Company
       6.050%, 03/15/2037 187,000 241,425
NextEra Energy Capital Holdings, Inc.
       7.875%, 12/15/2015 221,000 231,509
NiSource Finance Corp.
       6.800%, 01/15/2019 380,000 447,157
Oncor Electric Delivery Company LLC
       7.500%, 09/01/2038 188,000 286,910
Pacific Gas & Electric Company
       3.500%, 10/01/2020 60,000 63,252
       6.050%, 03/01/2034 260,000 339,712
PacifiCorp
       6.000%, 01/15/2039 335,000 451,747
Pennsylvania Electric Company
       5.200%, 04/01/2020 300,000 332,113
PPL Capital Funding, Inc.
       3.400%, 06/01/2023 250,000 259,210
PPL WEM Holdings, Ltd.
       5.375%, 05/01/2021 (S) 60,000 69,056
Progress Energy, Inc.
       4.400%, 01/15/2021 305,000 336,228
       7.050%, 03/15/2019 50,000 59,665
San Diego Gas & Electric Company
       6.125%, 09/15/2037 202,000 283,071
Southern California Edison Company
       5.350%, 07/15/2035 130,000 161,837
Southwestern Public Service Company
       8.750%, 12/01/2018 255,000 317,656
The Southern Company
       2.375%, 09/15/2015 500,000 503,965
Virginia Electric & Power Company
       3.450%, 09/01/2022 50,000 53,144
       8.875%, 11/15/2038 190,000 317,785
8,476,587
TOTAL CORPORATE BONDS (Cost $111,285,993) $ 124,628,570
  
MUNICIPAL BONDS - 1.0%
Bay Area Toll Authority (California)
       6.907%, 10/01/2050 50,000 74,303

The accompanying notes are an integral part of the financial statements. 262


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Total Bond Market Trust B (continued)

Shares or
Principal
Amount       Value
MUNICIPAL BONDS (continued)
Illinois State Toll Highway Authority
       6.184%, 01/01/2034 $ 150,000 $ 198,831  
Maryland State Transportation Authority
       5.888%, 07/01/2043 60,000 80,296
Metropolitan Washington Airports Authority
       Dulles Toll Road (District of Columbia)  
       7.462%, 10/01/2046 40,000 57,415
New Jersey State Turnpike Authority
       7.102%, 01/01/2041 90,000 132,116
New York State Dormitory Authority
       5.628%, 03/15/2039 340,000 430,263
New York State Urban Development Corp.
       5.770%, 03/15/2039 300,000 372,966
North Carolina Turnpike Authority
       6.700%, 01/01/2039 60,000 68,501
State of California
       7.300%, 10/01/2039 400,000 596,216
       7.500%, 04/01/2034 80,000 119,657
State of Illinois, GO
       5.100%, 06/01/2033 115,000 117,004
       7.350%, 07/01/2035 280,000 335,605
State of Texas
       5.517%, 04/01/2039 260,000 347,636
State of Utah
       3.539%, 07/01/2025 390,000 420,163
       4.554%, 07/01/2024 260,000 295,942
State of Washington
       5.481%, 08/01/2039 260,000 332,636
Texas Transportation Commission State
       Highway Fund
       5.178%, 04/01/2030 310,000 376,495
University of California
       5.770%, 05/15/2043 320,000 411,427
TOTAL MUNICIPAL BONDS (Cost $3,854,134) $ 4,767,472
  
COLLATERALIZED MORTGAGE
OBLIGATIONS - 2.0%
Commercial and residential - 1.6%
Banc of America Commercial Mortgage Trust
       Series 2006-4, Class A4,
              5.634%, 07/10/2046 726,670 753,506
       Series 2006-5, Class A3,
              5.390%, 09/10/2047 880,000 888,142
       Series 2006-1, Class AM,
              5.420%, 09/10/2045 (P) 200,000 205,480
Bear Stearns Commercial
       Mortgage Securities Trust
       Series 2006-PW11, Class AM,
              5.440%, 03/11/2039 (P) 200,000 206,555
       Series 2006-PW12, Class A4,
              5.703%, 09/11/2038 (P) 894,062 930,003
Citigroup/Deutsche Bank
       Commercial Mortgage Trust
       Series 2006-CD2, Class A4,
              5.298%, 01/15/2046 (P) 163,859 167,005
       Series 2006-CD2, Class AM,
              5.345%, 01/15/2046 (P) 200,000 206,543
JPMorgan Chase Commercial
       Mortgage Securities Trust
       Series 2005-CB13, Class A3A1,
              5.260%, 01/12/2043 (P) 19,306 19,300
       Series 2005-LDP5, Class A4,
              5.230%, 12/15/2044 (P) 1,141,263 1,153,734
       Series 2006-LDP8, Class AM,
              5.440%, 05/15/2045 485,000 509,381
       Series 2005-LDP4, Class A4,
              4.918%, 10/15/2042 (P) 120,627 121,349
LB Commercial Conduit Mortgage Trust,
       Series 2007-C3, Class A4
       5.899%, 07/15/2044 (P) 180,000 194,304
Merrill Lynch Mortgage Trust
       Series 2008-C1, Class A4,
              5.690%, 02/12/2051 658,804 715,171
       Series 2006-C1, Class AM,
              5.659%, 05/12/2039 (P) 800,000 833,499
Morgan Stanley Capital I Trust
       Series 2007-T27, Class A4,
              5.650%, 06/11/2042 (P) 630,000 682,926
       Series 2011, Class C10,
              5.033%, 09/15/2047 (P)(S) 190,000 215,973
Wachovia Bank Commercial Mortgage Trust,
       Series 2004-C11, Class A5
       5.190%, 01/15/2041 (P) 71,325 71,504
U.S. Government Agency - 0.4%
Federal Home Loan Mortgage Corp.
       Series K005, Class A2, 4.317%, 11/25/2019 700,000 775,634
       Series K013, Class A2,
              3.974%, 01/25/2021 (P) 700,000 774,218
       Series K712, Class A2, 1.869%, 11/25/2019 700,000 707,516
  2,257,368
TOTAL COLLATERALIZED MORTGAGE
OBLIGATIONS (Cost $9,511,470) $ 10,131,743
  
ASSET BACKED SECURITIES - 0.4%
BA Credit Card Trust, Series 2007-A1,
       Class A1 5.170%, 06/15/2019 500,000 536,961
BMW Vehicle Lease Trust, Series 2014-1,
       Class A3 0.730%, 02/21/2017 500,000 499,815
Citibank Credit Card Issuance Trust,
       Series 2008-A1, Class A1
       5.350%, 02/07/2020 500,000 555,655
Honda Auto Receivables Owner Trust,
       Series 2014-3, Class A3
       0.880%, 06/15/2018 500,000 499,873
Volkswagen Auto Loan Enhanced Trust,
       Series 2012-1, Class A3
       0.850%, 08/22/2016 49,149 49,185
TOTAL ASSET BACKED SECURITIES (Cost $2,160,264) $ 2,141,489
 
SHORT-TERM INVESTMENTS - 6.6%
Money market funds - 6.6%
State Street Institutional U.S. Government
       Money Market Fund, 0.0000% (Y) 32,834,386 32,834,386
TOTAL SHORT-TERM INVESTMENTS (Cost $32,834,386) $ 32,834,386
Total Investments (Total Bond Market Trust B)
       (Cost $497,339,013) - 105.9% $ 526,358,819
Other assets and liabilities, net - (5.9%) (29,164,050 )
TOTAL NET ASSETS - 100.0% $ 497,194,769

The accompanying notes are an integral part of the financial statements. 263


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Total Return Trust

Shares or
Principal
Amount       Value
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS - 60.1%
U.S. Government - 32.1%
Treasury Inflation Protected Securities
       0.375%, 07/15/2023 $ 12,253,680 $ 12,568,621
       0.625%, 07/15/2021 5,600,286 5,870,673
       1.375%, 02/15/2044 802,344 944,510
       1.750%, 01/15/2028 24,323,132 28,488,468
       2.000%, 01/15/2026 11,894,568 14,100,642
       2.375%, 01/15/2025 to 01/15/2027 55,007,394 67,183,350
       2.500%, 01/15/2029 20,903,040 26,718,328
       3.625%, 04/15/2028 867,108 1,223,909
       3.875%, 04/15/2029 10,948,245 16,087,931
U.S. Treasury Bonds
       2.500%, 02/15/2045 10,300,000 10,211,482
       2.750%, 08/15/2042 to 11/15/2042 18,800,000 19,555,511
       2.875%, 05/15/2043 700,000 746,320
       3.000%, 05/15/2042 to 11/15/2044 13,300,000 14,526,443
       3.125%, 02/15/2042 to 08/15/2044 64,300,000 72,067,555
       3.375%, 05/15/2044 35,700,000 41,849,896
       3.750%, 11/15/2043 1,000,000 1,249,453
       4.250%, 05/15/2039 5,300,000 7,003,038
       4.375%, 11/15/2039 to 05/15/2040 9,600,000 12,948,874
       4.500%, 08/15/2039 5,000,000 6,847,265
       4.625%, 02/15/2040 3,600,000 5,029,031
       6.125%, 11/15/2027 to 08/15/2029 5,500,000 8,011,970
       6.250%, 05/15/2030 16,200,000 24,620,209
U.S. Treasury Notes
       0.750%, 12/31/2017 2,600,000 2,594,922
       2.000%, 02/15/2025 2,200,000 2,213,922
       2.250%, 11/15/2024 10,400,000 10,690,878
       2.375%, 08/15/2024 10,800,000 11,226,092
       2.500%, 05/15/2024 1,700,000 1,785,665
       2.750%, 02/15/2024 1,400,000 1,500,297
427,865,255
U.S. Government Agency - 28.0%
Federal Home Loan Mortgage Corp.
       1.250%, 10/02/2019 14,100,000 13,982,533
       2.292%, 06/01/2034 (P) 123,145 131,161
       2.375%, 01/13/2022 2,300,000 2,378,283
       2.690%, 01/01/2029 (P) 81,907 86,590
       3.750%, 03/27/2019 1,700,000 1,865,413
       4.000%, TBA (C) 17,000,000 18,159,742
       4.000%, 09/01/2035 349,342 375,594
       4.500%, TBA (C) 9,000,000 9,789,903
       4.500%, 10/01/2025 to 10/01/2041 801,176 876,487
       5.500%, 04/01/2035 to 07/01/2038 667,804 751,060
       6.000%, 03/01/2016 to 08/01/2038 430,374 491,313
Federal National Mortgage Association
       0.875%, 12/20/2017 to 05/21/2018 1,100,000 1,097,541
       1.125%, 04/27/2017 5,600,000 5,649,790
       1.321%, 06/01/2043 (P) 716,609 729,127
       1.521%, 10/01/2040 (P) 101,886 104,542
       1.875%, 09/18/2018 800,000 819,966
       2.233%, 09/01/2035 (P) 2,477,733 2,650,013
       2.310%, 08/01/2022 700,000 704,233
       2.590%, 07/01/2022 11,429,136 11,738,782
       2.640%, 06/01/2022 6,300,000 6,491,383
       2.870%, 09/01/2027 1,600,000 1,636,838
       2.940%, 07/01/2022 2,545,266 2,660,277
       3.000%, TBA (C) 48,000,000 49,298,864
       3.000%, 04/01/2022 to 05/01/2022 563,267 590,704
       3.155%, 05/01/2022 9,430,548 9,969,029
       3.330%, 11/01/2021 376,832 402,421
       3.500%, TBA (C) 18,000,000 18,991,502
       3.813%, 05/01/2036 (P) 978,555 1,040,856
       4.000%, TBA (C) 10,000,000 10,675,170
       4.000%, 08/01/2018 to 08/01/2041 16,181,221 17,321,074
       4.500%, TBA (C) 2,000,000 2,176,159
       4.500%, 04/01/2018 to 07/01/2042 12,865,270 13,961,162
       4.521%, 09/01/2035 (P) 55,364 59,085
       5.000%, TBA (C) 11,500,000 12,772,773
       5.000%, 02/01/2027 to 03/01/2044 3,771,364 4,200,661
       5.136%, 05/01/2035 (P) 128,581 134,986
       5.375%, 06/12/2017 1,600,000 1,760,637
       5.500%, 03/01/2021 to 07/01/2041 57,328,135 64,676,950
       6.000%, TBA (C) 8,000,000 9,122,498
       6.000%, 12/01/2016 to 05/01/2041 33,890,457 38,824,060
       6.500%, 03/01/2036 to 11/01/2037 19,886 22,836
Government National
       Mortgage Association
       1.625%, 09/20/2021 to 02/20/2032 (P) 940,213 967,989
       3.000%, TBA (C) 4,000,000 4,117,606
       3.500%, TBA (C) 1,000,000 1,053,594
       5.000%, 01/15/2035 to 11/15/2039 23,472,854 26,342,262
Small Business Administration
       4.880%, 11/01/2024 46,104 49,855
       5.130%, 09/01/2023 52,640 57,762
       5.520%, 06/01/2024 1,089,434 1,199,091
372,960,157
TOTAL U.S. GOVERNMENT AND AGENCY
OBLIGATIONS (Cost $787,235,643) $ 800,825,412
  
FOREIGN GOVERNMENT
OBLIGATIONS - 3.8%
Brazil - 0.1%
Banco Nacional de Desenvolvimento
       Economico e Social
       3.375%, 09/26/2016 (S) 1,000,000 1,003,750
Canada - 0.7%
Province of Ontario
       1.600%, 09/21/2016 100,000 101,351
       1.650%, 09/27/2019 6,100,000 6,124,217
       3.000%, 07/16/2018 1,800,000 1,899,349
       4.400%, 04/14/2020 1,100,000 1,243,845
Province of Quebec
       3.500%, 07/29/2020 600,000 651,842
10,020,604
Mexico - 1.5%
Government of Mexico
       4.000%, 11/15/2040 to 11/08/2046 MXN 155,966,849 11,303,050
       7.750%, 05/29/2031 2,700,000 201,213
       8.000%, 06/11/2020 113,600,000 8,330,138
19,834,401
Slovenia - 0.1%
Republic of Slovenia
       5.500%, 10/26/2022 $ 1,000,000 1,152,540
South Korea - 1.4%
Export-Import Bank of Korea
       4.125%, 09/09/2015 6,400,000 6,492,691

The accompanying notes are an integral part of the financial statements. 264


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Total Return Trust (continued)

Shares or
Principal
Amount       Value
FOREIGN GOVERNMENT
OBLIGATIONS (continued)
South Korea (continued)
Korea Development Bank
       3.500%, 08/22/2017 $ 1,100,000 $ 1,147,120
       4.375%, 08/10/2015 9,900,000 10,024,532
Korea Housing Finance Corp.
       4.125%, 12/15/2015 (S) 1,100,000 1,124,387
  18,788,730
TOTAL FOREIGN GOVERNMENT
OBLIGATIONS (Cost $53,283,182) $ 50,800,025
   
CORPORATE BONDS - 19.5%
Consumer discretionary - 3.2%
DISH DBS Corp.
       4.250%, 04/01/2018 500,000 502,500
       7.750%, 05/31/2015 15,600,000 15,717,000
Ford Motor Credit Company LLC
       0.706%, 11/08/2016 (P) 10,300,000 10,257,358
       0.783%, 09/08/2017 (P) 2,100,000 2,087,921
       3.984%, 06/15/2016 2,900,000 2,989,709
       7.000%, 04/15/2015 800,000 801,264
       8.000%, 12/15/2016 1,100,000 1,218,430
General Motors Financial Company, Inc.
       3.150%, 01/15/2020 2,100,000 2,124,982
President and Fellows of Harvard College
       6.500%, 01/15/2039 (S) 4,600,000 6,826,501
42,525,665
Energy - 1.1%
Petrobras Global Finance BV
       1.880%, 05/20/2016 (P) 300,000 283,530
       2.000%, 05/20/2016 400,000 382,600
       2.393%, 01/15/2019 (P) 100,000 86,625
       2.630%, 03/17/2017 (P) 400,000 367,960
       3.250%, 03/17/2017 700,000 645,750
       3.500%, 02/06/2017 300,000 280,755
       3.875%, 01/27/2016 9,600,000 9,416,448
       4.375%, 05/20/2023 100,000 85,510
       5.750%, 01/20/2020 300,000 278,898
       5.875%, 03/01/2018 900,000 861,750
Ras Laffan Liquefied Natural Gas
       Company, Ltd. II
       5.298%, 09/30/2020 (S) 2,167,900 2,329,951
15,019,777
Financials - 13.0%
Ally Financial, Inc.
       2.750%, 01/30/2017 13,200,000 13,151,292
       4.625%, 06/26/2015 4,100,000 4,120,500
American International Group, Inc.
       5.050%, 10/01/2015 500,000 510,626
Banco Bilbao Vizcaya Argentaria SA
       1.075%, 05/16/2016 7,000,000 6,968,780
Banco de Credito e Inversiones
       3.000%, 09/13/2017 (S) 1,800,000 1,836,670
Banco Santander Brasil SA
       4.500%, 04/06/2015 (S) 600,000 600,000
Bank of America Corp.
       2.600%, 01/15/2019 200,000 203,558
       2.650%, 04/01/2019 2,000,000 2,037,868
       5.750%, 12/01/2017 100,000 110,014
       6.400%, 08/28/2017 4,300,000 4,764,963
       6.875%, 04/25/2018 9,300,000 10,636,289
Bank of America NA
       0.570%, 06/15/2017 (P) 9,200,000 9,122,260
       0.676%, 05/08/2017 (P) 3,200,000 3,194,547
Bank of China Hong Kong, Ltd.
       5.550%, 02/11/2020 (S) 1,200,000 1,334,650
BBVA Bancomer SA
       4.500%, 03/10/2016 (S) 1,400,000 1,438,500
       6.500%, 03/10/2021 (S) 2,900,000 3,209,952
Caixa Economica Federal
       2.375%, 11/06/2017 (S) 1,800,000 1,699,560
Citigroup, Inc.
       4.450%, 01/10/2017 500,000 526,904
       4.875%, 05/07/2015 2,500,000 2,508,778
Credit Agricole SA (7.875% to
       01/23/2024, then 5 Year U.S. Swap
       Rate + 4.898%)
       01/23/2024 (Q)(S) 3,600,000 3,812,562
Credit Agricole SA (7.875% to
       01/23/2024, then 5 Year Euro Swap
       Rate + 4.898%)
       01/23/2024 (Q) 300,000 317,417
Credit Suisse/New York
       0.566%, 03/11/2016 (P) 9,800,000 9,792,866
Fifth Third Bancorp
       0.690%, 12/20/2016 (P) 1,200,000 1,192,798
JPMorgan Chase & Co.
       0.806%, 04/25/2018 (P) 5,300,000 5,295,087
LBG Capital No.1 PLC (8.500% to
       12/17/2021, then 3 month
       LIBOR + 6.921%)
       12/17/2021 (Q)(S) 700,000 763,067
Lloyds TSB Bank PLC (12.000% to
       12/16/2024, then 3 month
       LIBOR + 11.750%)
       12/16/2024 (Q)(S) 11,300,000 16,187,250
Morgan Stanley
       6.000%, 04/28/2015 800,000 802,637
Murray Street Investment Trust I
       4.647%, 03/09/2017 (P) 6,800,000 7,204,967
Navient Corp.
       6.250%, 01/25/2016 9,797,000 10,090,910
Principal Life Income Funding Trusts
       5.550%, 04/27/2015 4,300,000 4,314,728
Springleaf Finance Corp.
       6.500%, 09/15/2017 11,500,000 12,132,500
       6.900%, 12/15/2017 9,100,000 9,691,500
State Bank of India
       4.500%, 07/27/2015 (S) 2,900,000 2,929,423
Stone Street Trust
       5.902%, 12/15/2015 (S) 7,500,000 7,730,468
The Bear Stearns Companies LLC
       7.250%, 02/01/2018 9,600,000 11,050,579
The Blackstone Group LP
       9.296%, 03/18/2019 1,071,352 1,024,253
Vesey Street Investment Trust I
       4.404%, 09/01/2016 (P) 600,000 625,537
172,934,260
Health care - 0.1%
Amgen, Inc.
       2.300%, 06/15/2016 1,900,000 1,929,697

The accompanying notes are an integral part of the financial statements. 265


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Total Return Trust (continued)

Shares or
Principal
       Amount        Value
CORPORATE BONDS (continued)
Industrials - 0.4%
Con-way, Inc.
       7.250%, 01/15/2018 $ 800,000 $ 904,017
International Lease Finance Corp.
       5.750%, 05/15/2016 800,000 831,600
       6.750%, 09/01/2016 (S) 2,100,000 2,231,250
Odebrecht Drilling Norbe VIII/IX, Ltd.
       6.350%, 06/30/2021 (S) 1,190,000 1,026,375
Odebrecht Offshore Drilling Finance, Ltd.
       6.625%, 10/01/2022 (S) 1,043,900 798,584
       6.750%, 10/01/2022 (S) 279,030 216,862
  6,008,688
Information technology - 0.1%  
Apple, Inc.
       2.850%, 05/06/2021 1,300,000 1,354,506
Materials - 0.7%  
Braskem Finance, Ltd.
       5.750%, 04/15/2021 (S) 1,200,000 1,128,000
CSN Islands XI Corp.
       6.875%, 09/21/2019 (S) 1,900,000 1,700,500
Gerdau Holdings, Inc.
       7.000%, 01/20/2020 (S) 2,300,000 2,455,250
Rio Oil Finance Trust Series 2014-1
       6.250%, 07/06/2024 (S) 500,000 456,436
Rio Oil Finance Trust Series 2014-3
       6.750%, 01/06/2027 (S)   3,300,000 2,974,313
  8,714,499
Telecommunication services - 0.8%
Ooredoo International Finance, Ltd.
       3.375%, 10/14/2016 (S) 200,000 205,502
Verizon Communications, Inc.
       2.020%, 09/14/2018 (P) 1,400,000 1,460,239
       2.500%, 09/15/2016 4,183,000 4,271,546
       3.650%, 09/14/2018 4,500,000 4,784,243
  10,721,530
Utilities - 0.1%
Red Oak Power LLC
       8.540%, 11/30/2019     966,606     1,027,019
TOTAL CORPORATE BONDS (Cost $244,391,078)     $ 260,235,641
  
CAPITAL PREFERRED SECURITIES - 0.4%
Financials - 0.4%
UBS Preferred Funding Trust V (6.243%
       to 05/15/2016, then 3 month
       LIBOR + 1.615%)
       05/15/2016 (Q)     4,700,000     4,893,875
TOTAL CAPITAL PREFERRED
SECURITIES (Cost $4,819,286)         $ 4,893,875
 
MUNICIPAL BONDS - 4.7%
American Municipal Power, Inc. (Ohio)
       8.084%, 02/15/2050 2,700,000 4,369,086
California Infrastructure & Economic
       Development Bank
       6.486%, 05/15/2049 1,100,000 1,407,252
California State University
       6.484%, 11/01/2041 2,000,000 2,723,040
California Statewide Communities
       Development Authority
       7.550%, 05/15/2040 2,700,000 3,717,144
Chicago Transit Authority (Illinois)
       6.200%, 12/01/2040 1,300,000 1,561,014
Chicago Transit Authority,
       Series A (Illinois)
       6.300%, 12/01/2021 180,000 199,759
       6.899%, 12/01/2040 3,400,000 4,380,322
City of Los Angeles (California)
       5.713%, 06/01/2039 1,000,000 1,267,760
City of North Las Vegas (Nevada)
       6.572%, 06/01/2040 11,600,000 10,281,196
Illinois Municipal Electric Agency
       6.832%, 02/01/2035 2,700,000 3,303,612
Iowa Tobacco Settlement Authority,
       Series A
       6.500%, 06/01/2023 275,000 275,278
Los Angeles County Public Works
       Financing Authority (California)
       7.488%, 08/01/2033 500,000 681,325
       7.618%, 08/01/2040 5,300,000 7,720,033
Mississippi Development Bank
       6.313%, 01/01/2033 700,000 867,139
New York City Municipal Water Finance
       Authority (New York)
       5.882%, 06/15/2044 3,500,000 4,747,015
North Carolina Turnpike Authority
       6.700%, 01/01/2039 3,000,000 3,425,070
Port Authority of New York & New Jersey
       5.647%, 11/01/2040 1,800,000 2,303,496
Public Power Generation Agency
       (Nebraska)
       7.242%, 01/01/2041 500,000 598,050
State of California
       7.550%, 04/01/2039 1,300,000 2,029,664
State of Iowa
       6.750%, 06/01/2034     6,400,000     7,464,128
TOTAL MUNICIPAL BONDS (Cost $53,859,710)     $ 63,321,383
 
COLLATERALIZED MORTGAGE
OBLIGATIONS - 7.6%
Commercial and residential - 6.8%
Banc of America Funding, Ltd.,
       Series 2012-R5, Class A
       0.430%, 10/03/2039 (P)(S) 6,829,672 6,739,410
Bank of America Funding Corp.,
       Series 2004-A, Class 1A3  
       2.621%, 09/20/2034 (P) 75,605   74,941
Bank of America Mortgage Trust,  
       Series 2004-2, Class 5A1
       6.500%, 10/25/2031 5,534 5,803
BCAP LLC Trust
       Series 2011-RR4, Class 8A1,
              5.250%, 02/26/2036 (S) 2,146,746 1,949,658
       Series 2011-RR5, Class 12A1,
              4.932%, 03/26/2037 (P)(S) 475,014 466,560
       Series 2011-RR5, Class 5A1,
              5.250%, 08/26/2037 (S) 4,329,645 4,495,765
Bear Stearns Adjustable
       Rate Mortgage Trust
       Series 2002-11, Class 1A2,
              2.594%, 02/25/2033 (P) 95,097 88,590
       Series 2003-8, Class 2A1,
              2.722%, 01/25/2034 (P) 441,929 453,173
       Series 2004-6, Class 1A1,
              2.335%, 09/25/2034 (P) 67,261 62,499

The accompanying notes are an integral part of the financial statements. 266


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Total Return Trust (continued)

Shares or
Principal
       Amount        Value
COLLATERALIZED MORTGAGE
OBLIGATIONS (continued)
Commercial and residential (continued)
Bear Stearns Alt-A Trust, Series 2004-9,
       Class 2A1
       2.490%, 09/25/2034 (P)   $ 79,555 $ 70,157
Bear Stearns Commercial Mortgage  
       Securities Trust, Series 2007-PW18,
       Class A4
       5.700%, 06/11/2050 4,200,000 4,545,311
Citigroup Mortgage Loan Trust, Inc.,
       Series 2005-6, Class A1  
       2.230%, 09/25/2035 (P) 5,566,516 5,600,945
Countrywide Alternative Loan Trust
       Series 2004-27CB, Class A1,  
              6.000%, 12/25/2034 5,081,451 5,104,460
       Series 2007-OA6, Class A1B,
              0.373%, 06/25/2037 (P) 8,628,209 7,097,729
       Series 2003-J3, Class 2A1,
              6.250%, 12/25/2033 14,976 15,924
Countrywide Home Loan Mortgage
       Pass Through Trust
       Series 2005-3, Class 1A2,
              0.463%, 04/25/2035 (P) 269,225 238,082
       Series 2003-R4, Class 2A,
              5.718%, 01/25/2034 (P)(S) 108,279 111,211
       Series 2004-12, Class 11A2,
              2.589%, 08/25/2034 (P) 39,140 35,722
Credit Suisse Commercial Mortgage Trust,
       Series 2006-C5, Class A1A
       5.297%, 12/15/2039 2,392,064 2,522,510
Credit Suisse First Boston Mortgage
       Securities Corp., Series 2004-AR8,
       Class 2A1
       2.473%, 09/25/2034 (P) 96,885 96,252
Credit Suisse Mortgage Capital
       Certificates, Series 2007-C5, Class A4
       5.700%, 09/15/2040 (P) 11,200,000 12,026,616
CSMC, Series 2010-18, Class R
       2.420%, 04/26/2038 (P)(S) 2,100,000 2,047,147
First Nationwide Trust, Series 2001-3,
       Class 1A1
       6.750%, 08/21/2031 1,692 1,743
GMAC Mortgage Corp Loan Trust,
       Series 2005-AR6, Class 3A1
       2.803%, 11/19/2035 (P) 359,666 342,712
Greenwich Capital Commercial
       Funding Corp., Series 2007-GG9,
       Class A4
       5.444%, 03/10/2039 1,600,000 1,688,222
GSR Mortgage Loan Trust,
       Series 2005-AR7, Class 6A1
       4.968%, 11/25/2035 (P) 857,746 822,674
HarborView Mortgage Loan Trust,
       Series 2005-2, Class 2A1A
       0.397%, 05/19/2035 (P) 397,488 330,027
HomeBanc Mortgage Trust, Series 2005-4,
       Class A1
       0.443%, 10/25/2035 (P) 5,808,748 5,148,061
IndyMac ARM Trust, Series 2001-H2,
       Class A2
       1.707%, 01/25/2032 (P) 6,105 5,869
JPMorgan Chase Commercial
       Mortgage Securities Trust
       Series 2007-LD12, Class A4,
              5.882%, 02/15/2051 (P) 1,200,000 1,286,425
       Series 2007-LDPX, Class A3,
              5.420%, 01/15/2049 468,517 496,700
Merrill Lynch Mortgage Investors Trust,
       Series 2005-A6, Class 2A3
       0.553%, 08/25/2035 (P) 3,200,000 2,955,328
Merrill Lynch/Countrywide Commercial
       Mortgage Trust, Series 2007-6,
       Class A4
       5.485%, 03/12/2051 (P) 1,300,000 1,390,908
Morgan Stanley Capital I Trust,
       Series 2007-IQ14, Class A2FX
       5.610%, 04/15/2049 942,590 946,250
Morgan Stanley Re-REMIC Trust,
       Series 2009-GG10, Class A4A
       5.795%, 08/12/2045 (P)(S) 1,115,778 1,194,435
Nomura Asset Acceptance Corp.,
       Series 2004-R1, Class A2
       7.500%, 03/25/2034 (S) 155,721 165,064
RBSSP Resecuritization Trust
       Series 2011-3, Class 2A1,
              0.418%, 02/26/2037 (P)(S) 3,136,099 2,928,141
       Series 2011-4, Class 6A1,
              0.413%, 06/27/2036 (P)(S) 3,200,000 2,715,354
Residential Asset Securitization Trust,
       Series 2005-A1, Class A1
       5.500%, 04/25/2035 7,864,513 8,010,298
Residential Funding Mortgage
       Securities I Trust, Series 2004-S9,
       Class 1A23
       5.500%, 12/25/2034 286,157 286,136
Structured Adjustable Rate Mortgage
       Loan Trust, Series 2004-8, Class 3A
       2.467%, 07/25/2034 (P) 120,200 120,011
Structured Asset Mortgage
       Investments, Inc., Series 2005-AR2,
       Class 2A1
       0.403%, 05/25/2045 (P) 31,987 28,082
Structured Asset Securities Corp.,
       Series 2006-11, Class A1
       2.610%, 10/28/2035 (P)(S) 345,359 332,036
WaMu Mortgage Pass Through
       Certificates, Series 2005-AR6,
       Class 2A1A
       0.403%, 04/25/2045 (P) 35,108 33,085
WaMu Mortgage Pass-
       Through Certificates
       Series 2002-AR17, Class 1A,
              1.327%, 11/25/2042 (P) 146,428 136,651
       Series 2002-AR6, Class A,
              1.527%, 06/25/2042 (P) 6,168 5,945
       Series 2002-AR9, Class 1A,
              1.527%, 08/25/2042 (P) 468,936 429,052
       Series 2005-AR13, Class A1A1,
              0.463%, 10/25/2045 (P) 342,010 313,568
Wells Fargo Mortgage
       Backed Securities Trust
       Series 2006-AR10, Class 1A1,
              2.624%, 07/25/2036 (P) 3,359,730 3,269,102

The accompanying notes are an integral part of the financial statements. 267


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (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 (continued)
       Series 2006-AR2, Class 2A1,
              2.614%, 03/25/2036 (P) $ 1,417,739 $ 1,412,268
    90,642,612
U.S. Government Agency - 0.8%
Federal Home Loan Mortgage Corp.
       Series 2204, Class Z,
              7.500%, 12/20/2029 360,841 414,049
       Series 2247, Class Z,
              7.500%, 08/15/2030 166,894 194,428
       Series 2362, Class ZA,
              6.500%, 09/15/2031 216,427 250,759
       Series 2503, Class PZ,  
              6.000%, 09/15/2032 767,620 880,893
       Series 2906, Class GZ,
              5.000%, 09/15/2034 500,305 550,687
       Series 2935, Class HJ,
              5.000%, 02/15/2035 400,000 432,327
       Series 2941, Class WE,
              5.000%, 03/15/2035 243,630 267,198
       Series T-63, Class 1A1,
              1.314%, 02/25/2045 (P) 152,103 156,023
       Series 2489, Class PE,
              6.000%, 08/15/2032 205,347 235,314
Federal National Mortgage Association
       Series 2002-56, Class ZQ,
              6.000%, 09/25/2032 2,859,867 3,280,851
       Series 2003-116, Class FA,
              0.573%, 11/25/2033 (P) 87,741 88,323
       Series 2003-W1, Class 1A1,
              5.823%, 12/25/2042 (P) 256,147 288,369
       Series 2004-11, Class A,
              0.293%, 03/25/2034 (P) 19,214 19,141
       Series 2004-T1, Class 1A1,
              6.000%, 01/25/2044 88,717 101,887
       Series 2005-9, Class ZA,
              5.000%, 02/25/2035 710,221 792,655
       Series 2006-5, Class 3A2,
              2.193%, 05/25/2035 (P) 151,894 158,398
       Series 2007-73, Class A1,
              0.233%, 07/25/2037 (P) 90,859 88,145
Government National  
       Mortgage Association
       Series 2004-105, Class JZ,  
              5.000%, 12/20/2034 166,765 194,441
       Series 2005-21, Class Z,
              5.000%, 03/20/2035 1,277,520 1,426,849
       Series 2005-3, Class JZ,
              5.000%, 01/16/2035 166,076 182,676
       Series 2005-3, Class KZ,
              5.000%, 01/16/2035 166,076 182,373
10,185,786
TOTAL COLLATERALIZED MORTGAGE
OBLIGATIONS (Cost $95,930,016) $ 100,828,398
 
ASSET BACKED SECURITIES - 4.3%
Countrywide Asset-Backed Certificates,
       Series 2004-10, Class MV2
       1.176%, 01/25/2035 (P) 2,849,603 2,847,770
Credit-Based Asset Servicing and
       Securitization LLC, Series 2007-CB6,
       Class A3
       0.393%, 07/25/2037 (P)(S) 7,213,678 4,841,597
EMC Mortgage Loan Trust,
       Series 2001-A Class A
       0.913%, 05/25/2040 (P)(S) 582,084 525,051
GSAA Trust, Series 2005-7, Class AF4
       5.058%, 05/25/2035 (P) 5,158,000 4,583,115
Hillmark Funding, Ltd., Series 2006-1A,
       Class A1
       0.511%, 05/21/2021 (P)(S) 7,298,198 7,219,261
Mastr Asset Backed Securities Trust
       Series 2005-WF1, Class M2,
              0.603%, 06/25/2035 (P) 2,700,000 2,526,026
       Series 2006-NC2, Class A3,
              0.283%, 08/25/2036 (P) 5,130,167 2,678,291
Morgan Stanley ABS Capital I, Inc. Trust,
       Series 2006-WMC1, Class A2C
       0.483%, 12/25/2035 (P) 4,895,392 4,394,686
Morgan Stanley Home Equity Loan Trust,
       Series 2007-2, Class A2
       0.343%, 04/25/2037 (P) 2,332,439 1,495,229
New Century Home Equity Loan Trust
       Series 2005-4, Class M2,
              0.683%, 09/25/2035 (P) 1,100,000 959,684
       Series 2005-C, Class A2C,
              0.423%, 12/25/2035 (P) 3,105,491 3,035,276
Park Place Securities, Inc.
       Series 2005-WCW3, Class M1,
              0.653%, 08/25/2035 (P) 1,000,000 924,069
       Series 2005-WCW3, Class M2,
              0.663%, 08/25/2035 (P) 3,400,000 2,645,962
RASC Trust, Series 2005-KS4, Class M2
       1.043%, 05/25/2035 (P) 3,404,000 3,227,809
Securitized Asset Backed
       Receivables LLC Trust,
       Series 2006-FR3, Class A3
       0.423%, 05/25/2036 (P) 4,151,054 2,392,771
SLM Student Loan Trust
       Series 2008-9, Class A,
              1.756%, 04/25/2023 (P) 8,040,933 8,245,028
       Series 2010-C, Class A2,
              2.824%, 12/16/2019 (P)(S) 469,404 474,520
Specialty Underwriting & Residential
       Finance Trust, Series 2005-BC2,
       Class M3
       1.148%, 12/25/2035 (P) 5,200,000 4,599,608
TOTAL ASSET BACKED SECURITIES (Cost $56,125,464) $ 57,615,753
 
COMMON STOCKS - 0.0%
Financials - 0.0%
Rescap Liquidating Trust (I) 11 116
TOTAL COMMON STOCKS (Cost $35) $ 116
 
PREFERRED SECURITIES - 0.1%
Financials - 0.1%
Wells Fargo & Company,
       Series L, 7.500% 1,500 $ 1,834,500
TOTAL PREFERRED SECURITIES (Cost $1,983,750) $ 1,834,500

The accompanying notes are an integral part of the financial statements. 268


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Total Return Trust (continued)

Shares or
Principal
       Amount        Value
PURCHASED OPTIONS - 0.1%
Call options - 0.1%
Over the Counter Option on 1 Year
       Interest Rate Swap. Receive a fixed rate
       of 0.800% and pay a floating rate based
       on 3-month LIBOR (Expiration Date:  
       01/19/2016; Strike Rate: 0.800%;  
       Counterparty: Morgan Stanley &    
       Company, Inc.) (I) 42,200,000 $ 49,809
Over the Counter Option on 10 Year
       Interest Rate Swap. Receive a fixed rate
       of 1.750% and pay a floating rate based
       on 3-month LIBOR (Expiration Date:
       01/29/2016; Strike Rate: 1.750%;
       Counterparty: Morgan Stanley &
       Company, Inc.) (I) 7,100,000 86,410
Over the Counter Option on 10 Year
       Interest Rate Swap. Receive a fixed rate
       of 1.750% and pay a floating rate based
       on 3-month LIBOR (Expiration Date:
       07/30/2015; Strike Rate: 1.750%;
       Counterparty: Citibank NA) (I) 3,500,000 22,894
Over the Counter Option on 2 Year
       Interest Rate Swap. Receive a fixed rate
       of 1.100% and pay a floating rate based
       on 3-month LIBOR (Expiration Date:
       01/19/2016; Strike Rate: 1.100%;
       Counterparty: Goldman Sachs
       & Company) (I) 14,300,000 44,706
Over the Counter Option on 2 Year
       Interest Rate Swap. Receive a fixed rate
       of 1.100% and pay a floating rate based
       on 3-month LIBOR (Expiration Date:
       01/29/2016; Strike Rate: 1.100%;
       Counterparty: Bank of America NA) (I) 76,000,000 237,082
Over the Counter Option on 2 Year
       Interest Rate Swap. Receive a fixed rate
       of 2.100% and pay a floating rate based
       on 3-month LIBOR (Expiration Date:
       01/30/2018; Strike Rate: 2.100%;
       Counterparty: JPMorgan Securities) (I) 14,000,000 164,199
Over the Counter Option on 3 Year
       Interest Rate Swap. Receive a fixed rate
       of 1.150% and pay a floating rate based
       on 3-month LIBOR (Expiration Date:
       07/20/2015; Strike Rate: 1.150%;
       Counterparty: Goldman Sachs
       & Company) (I) 14,400,000 43,678
Over the Counter Option on 5 Year
       Interest Rate Swap. Receive a fixed rate
       of 1.500% and pay a floating rate based
       on 3-month LIBOR (Expiration Date:
       01/29/2016; Strike Rate: 1.500%;
       Counterparty: Morgan Stanley &
       Company, Inc.) (I) 7,100,000 54,833
703,611
Put options - 0.0%
Over the Counter Option on 2 Year
       Interest Rate Swap. Receive a fixed rate
       of 3.205% and pay a floating rate based
       on 3-month LIBOR (Expiration Date:
       01/16/2020; Strike Price: $3.20;
       Counterparty: Goldman Sachs
       and Company) (I) 6,700,000 $ 68,645
TOTAL PURCHASED OPTIONS (Cost $1,004,188) $ 772,256
  
SHORT-TERM INVESTMENTS - 2.9%
U.S. Government - 1.6%
U.S. Treasury Bills
       0.008%, 06/11/2015 * $ 321,000 $ 320,987
       0.011%, 04/09/2015 * 19,900,000 19,899,953
       0.016%, 06/04/2015 * 511,000 510,984
       0.042%, 04/16/2015 *   568,000 567,993
  21,299,917
U.S. Government Agency - 1.1%
Federal Home Loan Bank
       0.040%, 04/24/2015 * 1,000,000 999,974
       0.072%, 05/22/2015 * 5,300,000 5,299,682
       0.078%, 06/26/2015 * 7,800,000 7,798,861
14,098,517
Repurchase agreement - 0.2%
Repurchase Agreement with State
       Street Corp. dated 03/31/2015 at
       0.000% to be repurchased at $2,703,000
       on 04/01/2015, collateralized by
       $2,500,000 U.S. Treasury Notes,
       3.625% due 08/15/2019 (valued at
       $2,759,500, including interest) 2,703,000 2,703,000
TOTAL SHORT-TERM INVESTMENTS (Cost $38,100,900) $ 38,101,434
Total Investments (Total Return Trust)
       (Cost $1,336,733,252) - 103.5% $ 1,379,228,793
Other assets and liabilities, net - (3.5%) (46,453,513 )
TOTAL NET ASSETS - 100.0% $ 1,332,775,280
 
SALE COMMITMENTS OUTSTANDING - (1.6)%
U.S. Government Agency - (1.6)%
Federal National Mortgage Association
       5.500%,TBA (C) (19,000,000) (21,401,718 )
TOTAL SALE COMMITMENTS
OUTSTANDING (Cost $(21,312,656)) $ (21,401,718 )

Total Stock Market Index Trust

Shares or
Principal
       Amount        Value
COMMON STOCKS - 94.0%
Consumer discretionary - 12.9%
Auto components - 0.5%
American Axle &        
       Manufacturing Holdings, Inc. (I) 1,888 $ 48,767
Autoliv, Inc. 2,138 251,792
BorgWarner, Inc. 5,322 321,875
Cooper Tire & Rubber Company 1,494 64,003

The accompanying notes are an integral part of the financial statements. 269


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Total Stock Market Index Trust (continued)

Shares or
Principal
       Amount        Value
COMMON STOCKS (continued)
Auto components (continued)
Dana Holding Corp. 3,498 $ 74,018
Dorman Products, Inc. (I)(L) 912 45,372
Drew Industries, Inc. 570 35,078
Exide Technologies (I)   2,107 127
Federal-Mogul Holdings Corp. (I) 3,688 49,087
Fox Factory Holding Corp. (I) 1,016 15,585
Fuel Systems Solutions, Inc. (I) 460   5,078
Gentex Corp. 6,778 124,037
Gentherm, Inc. (I) 806 40,711
Johnson Controls, Inc. 15,597 786,713
Lear Corp. 1,843 204,241
Modine Manufacturing Company (I) 1,300   17,511
Motorcar Parts of America, Inc. (I) 567 15,757
Remy International, Inc. (I) 860 19,101
Shiloh Industries, Inc. (I) 550 7,722
Standard Motor Products, Inc. 572 24,173
Stoneridge, Inc. (I) 901 10,172
Superior Industries International, Inc. 865 16,374
Sypris Solutions, Inc. 379 853
Tenneco, Inc. (I) 1,435 82,398
The Goodyear Tire & Rubber Company 6,422 173,908
Tower International, Inc. (I) 623 16,572
TRW Automotive Holdings Corp. (I) 2,582 270,723
UQM Technologies, Inc. (I)(L) 2,453 2,698
Visteon Corp. (I) 1,018 98,135
2,822,581
Automobiles - 0.6%
Ford Motor Company 90,703 1,463,870
General Motors Company 37,533 1,407,488
Harley-Davidson, Inc. 5,086 308,924
Tesla Motors, Inc. (I)(L) 2,915 550,265
Thor Industries, Inc. 1,235 78,064
Winnebago Industries, Inc. 747 15,881
3,824,492
Distributors - 0.1%
Core-Mark Holding Company, Inc. 592 38,077
Educational Development Corp. 1,013 4,184
Genuine Parts Company 3,508 326,911
LKQ Corp. (I) 7,110 181,732
Pool Corp. 1,039 72,481
Weyco Group, Inc. 372 11,123
634,508
Diversified consumer services - 0.2%
2U, Inc. (I) 1,006 25,733
American Public Education, Inc. (I) 453 13,581
Apollo Education Group, Inc. (I) 2,538 48,019
Ascent Capital Group, Inc., Class A (I) 363 14,451
Bridgepoint Education, Inc. (I) 1,121 10,818
Bright Horizons Family Solutions, Inc. (I) 1,463 75,008
Capella Education Company 323 20,956
Career Education Corp. (I) 1,814 9,124
Chegg, Inc. (I) 2,115 16,814
Corinthian Colleges, Inc. (I) 2,076 29
DeVry Education Group, Inc. 1,447 48,272
Education Management Corp. (I) 3,020 725
Graham Holdings Company, Class B 134 140,650
Grand Canyon Education, Inc. (I) 1,133 49,059
H&R Block, Inc. 6,323 202,779
Houghton Mifflin Harcourt Company (I) 3,348 78,611
ITT Educational Services, Inc. (I)(L) 608 4,128
K12, Inc. (I) 1,084 17,040
Learning Tree International, Inc. (I) 519 802
LifeLock, Inc. (I) 2,000 28,220
Lincoln Educational Services Corp. 678 1,546
Regis Corp. (I) 1,321 21,612
Service Corp. International 4,914 128,010
Servicemaster Global Holdings Inc (I) 3,020 101,925
Sotheby’s 1,604 67,785
Steiner Leisure, Ltd. (I) 379 17,965
Stonemor Partners LP 777 22,385
Strayer Education, Inc. (I) 266 14,207
Weight Watchers International, Inc. (I)(L) 1,290 9,017
1,189,271
Hotels, restaurants and leisure - 2.2%
Ambassadors Group, Inc. (I) 714 1,806
ARAMARK Holdings Corp. 5,479 173,301
Ark Restaurants Corp. 439 10,940
Biglari Holdings, Inc. (I) 56 23,190
BJ’s Restaurants, Inc. (I) 673 33,953
Bloomin’ Brands, Inc. 2,685 65,326
Bob Evans Farms, Inc. 526 24,333
Boyd Gaming Corp. (I) 2,796 39,703
Brinker International, Inc. 1,483 91,293
Buffalo Wild Wings, Inc. (I) 435 78,839
Caesars Entertainment Corp. (I)(L) 3,301 34,760
Carnival Corp. 13,837 661,962
Cedar Fair LP 1,264 72,554
Century Casinos Inc (I) 1,781 9,706
Chipotle Mexican Grill, Inc. (I) 725 471,642
Choice Hotels International, Inc. 1,424 91,236
Churchill Downs, Inc. 455 52,311
Chuy’s Holdings, Inc. (I) 355 7,998
ClubCorp Holdings, Inc. 1,666 32,254
Cracker Barrel Old Country Store, Inc. 546 83,068
Darden Restaurants, Inc. 3,087 214,053
Del Frisco’s Restaurant Group, Inc. (I) 746 15,032
Denny’s Corp. (I) 2,330 26,562
Diamond Resorts International, Inc. (I) 1,862 62,247
DineEquity, Inc. 520 55,645
Domino’s Pizza, Inc. 1,274 128,101
Dover Downs Gaming
       & Entertainment, Inc. (I) 2,511 2,938
Dunkin’ Brands Group, Inc. 2,520 119,851
El Pollo Loco Holdings, Inc. (I)(L) 861 22,050
Eldorado Resorts, Inc. (I) 755 3,798
Empire Resorts, Inc. (I) 1,320 6,072
Extended Stay America, Inc. 4,638 90,580
Fiesta Restaurant Group, Inc. (I) 623 38,003
Hilton Worldwide Holdings, Inc. (I) 23,036 682,326
Hyatt Hotels Corp., Class A (I) 3,558 210,705
International Game Technology 5,790 100,804
International Speedway Corp., Class A 1,141 37,208
Interval Leisure Group, Inc. 1,455 38,136
Intrawest Resorts Holdings, Inc. (I) 1,452 12,661
Jack in the Box, Inc. 909 87,191
Krispy Kreme Doughnuts, Inc. (I) 1,678 33,543
Lakes Entertainment Inc (I) 954 8,176
Las Vegas Sands Corp. 18,847 1,037,339
Life Time Fitness, Inc. (I) 903 64,077
Luby’s, Inc. (I) 958 4,972
Marriott International, Inc., Class A 6,751 542,240
Marriott Vacations Worldwide Corp. 845 68,487
McDonald’s Corp. 22,985 2,239,658
MGM Resorts International (I) 11,489 241,614

The accompanying notes are an integral part of the financial statements. 270


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (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)
Noodles & Company (I)(L) 785 $ 13,690
Norwegian Cruise Line Holdings, Ltd. (I) 4,594 248,122
Panera Bread Company, Class A (I) 634 101,437
Papa John’s International, Inc. 980   60,574
Penn National Gaming, Inc. (I) 2,339   36,629
Pinnacle Entertainment, Inc. (I) 1,364 49,227
Popeyes Louisiana Kitchen, Inc. (I) 532 31,824
Potbelly Corp. (I) 678 9,289
Red Robin Gourmet Burgers, Inc. (I) 383 33,321
Restaurant Brands International LP 82 2,997
Restaurant Brands International, Inc. (I) 8,178 314,117
Royal Caribbean Cruises, Ltd. 5,158 422,182
Ruby Tuesday, Inc. (I) 1,530 9,195
Ruth’s Hospitality Group, Inc.   1,218 19,342
Scientific Games Corp., Class A (I)(L) 2,110 22,092
SeaWorld Entertainment, Inc. 1,999 38,541
Six Flags Entertainment Corp. 2,120 102,629
Sonic Corp. 1,371 43,461
Speedway Motorsports, Inc. 1,275 29,006
Starbucks Corp. 17,610 1,667,667
Starwood Hotels & Resorts Worldwide, Inc. 4,412 368,402
Texas Roadhouse, Inc. 1,588 57,851
The Cheesecake Factory, Inc. 1,182 58,308
The Marcus Corp. 1,040 22,142
The Wendy’s Company 8,624 94,002
Town Sports International Holdings, Inc. 871 5,932
Vail Resorts, Inc. 847 87,597
Wyndham Worldwide Corp. 2,845 257,387
Wynn Resorts, Ltd. 2,366 297,832
Yum! Brands, Inc. 10,299 810,737
Zoe’s Kitchen, Inc. (I) 517 17,211
13,586,987
Household durables - 0.6%
Beazer Homes USA, Inc. (I) 590 10,455
Blyth, Inc. (I) 424 3,218
Cavco Industries, Inc. (I) 228 17,114
CSS Industries, Inc. 517 15,588
D.R. Horton, Inc. 8,513 242,450
Emerson Radio Corp. 4,599 6,025
Ethan Allen Interiors, Inc. 771 21,310
GoPro, Inc., Class A (I)(L) 2,958 128,407
Harman International Industries, Inc. 1,598 213,541
Helen of Troy, Ltd. (I) 659 53,702
Hovnanian Enterprises, Inc., Class A (I)(L) 3,216 11,449
Installed Building Products, Inc. (I) 894 19,453
iRobot Corp. (I) 671 21,895
Jarden Corp. (I) 4,525 239,373
KB Home 2,015 31,474
Kid Brands, Inc. (I) 1,087 1
La-Z-Boy, Inc. 1,265 35,559
Leggett & Platt, Inc. 3,149 145,137
Lennar Corp., Class A 4,767 246,978
Libbey, Inc. 573 22,868
M/I Homes, Inc. (I) 794 18,929
MDC Holdings, Inc. 1,172 33,402
Meritage Homes Corp. (I) 994 48,348
Mohawk Industries, Inc. (I) 1,677 311,503
NACCO Industries, Inc., Class A 318 16,851
Newell Rubbermaid, Inc. 6,345 247,899
NVR, Inc. (I) 95 126,223
PulteGroup, Inc. 8,725 193,957
Standard Pacific Corp. (I) 6,946 62,514
Stanley Furniture Company, Inc. (I) 2,200 6,930
Taylor Morrison Home Corp., Class A (I) 3,050 63,593
Tempur Sealy International, Inc. (I) 1,438 83,030
The Ryland Group, Inc. 1,096 53,419
Toll Brothers, Inc. (I) 4,194 164,992
TRI Pointe Homes, Inc. (I) 3,949 60,933
Tupperware Brands Corp. 1,166 80,477
Turtle Beach Corp. (I) 1,303 2,424
Universal Electronics, Inc. (I) 417 23,535
Whirlpool Corp. 1,815 366,739
William Lyon Homes, Class A (I) 882 22,773
3,474,468
Internet and catalog retail - 1.2%
1-800-Flowers.com, Inc., Class A (I) 2,046 24,204
Amazon.com, Inc. (I) 10,808 4,021,657
Blue Nile, Inc. (I) 298 9,488
CafePress, Inc. (I) 462 1,797
Expedia, Inc. 2,967 279,284
Groupon, Inc. (I) 16,033 115,598
HSN, Inc. 1,254 85,560
Lands’ End, Inc. (I) 774 27,771
Liberty Interactive Corp., Series A (I) 12,945 377,865
Liberty TripAdvisor Holdings, Inc., Class A (I) 1,688 53,662
Liberty Ventures, Series A (I) 3,528 148,211
Netflix, Inc. (I) 1,405 585,449
Nutrisystem, Inc. 805 16,084
Orbitz Worldwide, Inc. (I) 2,566 29,920
Overstock.com, Inc. (I) 704 17,051
PetMed Express, Inc. (L) 894 14,769
Shutterfly, Inc. (I) 874 39,540
The Priceline Group, Inc. (I) 1,227 1,428,412
TripAdvisor, Inc. (I) 3,040 252,837
zulily, Inc., Class A (I)(L) 2,964 38,502
7,567,661
Leisure products - 0.1%
Arctic Cat, Inc. 418 15,182
Brunswick Corp. 2,230 114,734
Callaway Golf Company 2,390 22,777
Hasbro, Inc. (L) 2,935 185,609
Johnson Outdoors, Inc., Class A 385 12,747
LeapFrog Enterprises, Inc. (I) 1,585 3,455
Mattel, Inc. 7,911 180,766
Nautilus, Inc. (I) 985 15,041
Polaris Industries, Inc. 1,537 216,871
Smith & Wesson Holding Corp. (I) 1,224 15,582
Sturm Ruger & Company, Inc. (L) 479 23,773
Vista Outdoor, Inc. (I) 1,510 64,658
871,195
Media - 3.4%
AMC Entertainment Holdings, Inc., Class A 2,380 84,466
AMC Networks, Inc., Class A (I) 1,679 128,679
Ballantyne Strong, Inc. (I) 629 2,849
Cablevision Systems Corp., Class A (L) 6,588 120,560
Carmike Cinemas, Inc. (I) 672 22,579
CBS Corp., Class B 12,351 748,841
Charter Communications, Inc., Class A (I) 2,540 490,499
Cinemark Holdings, Inc. 2,590 116,731
Clear Channel Outdoor Holdings, Inc., Class A 8,558 86,607
Comcast Corp., Class A 60,566 3,420,162
Crown Media Holdings, Inc., Class A (I) 6,814 27,256
Cumulus Media, Inc., Class A (I) 5,525 13,647
DIRECTV (I) 11,741 999,159

The accompanying notes are an integral part of the financial statements. 271


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Total Stock Market Index Trust (continued)

Shares or
Principal
       Amount        Value
COMMON STOCKS (continued)
Media (continued)
Discovery Communications, Inc., Series A (I) 5,229 $ 160,844
DISH Network Corp., Class A (I) 10,774 754,826
DreamWorks Animation  
       SKG, Inc., Class A (I)(L) 2,049 49,586
Entercom Communications Corp., Class A (I) 1,104 13,414
Entravision Communications Corp., Class A 1,922 12,166
Gannett Company, Inc.   5,294 196,302
Global Eagle Entertainment, Inc. (I) 1,359   18,088
Gray Television, Inc. (I) 1,733 23,950
Harte-Hanks, Inc. 2,038 15,896
Hemisphere Media Group Inc (I)(L) 1,373   17,368
Insignia Systems Inc (I) 1,702 5,106
John Wiley & Sons, Inc., Class A 1,356 82,906
Journal Communications, Inc., Class A (I) 1,356 20,096
Liberty Broadband Corp., Series A (I) 1,996 112,734
Liberty Media Corp., Series A (I) 7,985 307,822
Lions Gate Entertainment Corp. 3,173 107,628
Live Nation Entertainment, Inc. (I) 4,633 116,891
Loral Space & Communications, Inc. (I) 474 32,441
Media General, Inc. (I) 2,000 32,980
Meredith Corp. 989 55,157
Morningstar, Inc. 1,062 79,554
National CineMedia, Inc. 1,475 22,273
New Media Investment Group, Inc. 588 14,071
News Corp., Class A (I) 13,527 216,567
Nexstar Broadcasting Group, Inc., Class A 731 41,828
NTN Buzztime, Inc. (I) 6,691 2,810
Omnicom Group, Inc. 5,853 456,417
ReachLocal, Inc. (I) 903 2,628
Regal Entertainment Group, Class A (L) 3,489 79,689
Rentrak Corp. (I)(L) 316 17,557
RLJ Entertainment, Inc. (I) 1,440 2,102
Scholastic Corp. 891 36,478
Scripps Networks Interactive, Inc., Class A 3,263 223,711
SFX Entertainment, Inc. (I) 1,933 7,906
Sinclair Broadcast Group, Inc., Class A (L) 2,196 68,976
Sirius XM Holdings, Inc. (I) 133,635 510,486
Sizmek, Inc. (I) 1,839 13,351
Starz, Class A (I) 2,488 85,612
The Dolan Company (I) 898 55
The EW Scripps Company, Class A (I) 1,263 35,920
The Interpublic Group of Companies, Inc. 9,668 213,856
The Madison Square Garden, Inc., Class A (I) 1,770 149,831
The McClatchy Company, Class A (I) 2,673 4,918
The New York Times Company, Class A 3,548 48,820
The Walt Disney Company 40,151 4,211,438
Thomson Reuters Corp. 18,704 758,634
Time Warner Cable, Inc. 6,549 981,564
Time Warner, Inc. 19,989 1,687,871
Time, Inc. 2,475 55,539
Townsquare Media Inc., Class A (I) 600 7,710
Twenty-First Century Fox, Inc., Class A 51,260 1,734,638
Viacom, Inc., Class B 9,873 674,326
World Wrestling
       Entertainment, Inc., Class A (L) 1,906 26,703
20,872,075
Multiline retail - 0.7%
Big Lots, Inc. 1,333 64,024
Burlington Stores, Inc. (I) 1,694 100,657
Dillard’s, Inc., Class A 997 136,100
Dollar General Corp. (I) 7,075 533,314
Dollar Tree, Inc. (I) 4,781 387,954
Family Dollar Stores, Inc. 2,629 208,322
Fred’s, Inc., Class A 1,038 17,739
Gordmans Stores, Inc. (I) 629 5,221
J.C. Penney Company, Inc. (I)(L) 7,487 62,966
Kohl’s Corp. 4,801 375,678
Macy’s, Inc. 8,250 535,508
Nordstrom, Inc. 4,502 361,601
Sears Holdings Corp. (I)(L) 2,576 106,595
Target Corp. 14,800 1,214,636
The Bon-Ton Stores, Inc. 475 3,306
Tuesday Morning Corp. (I) 1,165 18,757
4,132,378
Specialty retail - 2.5%
Aaron’s, Inc. 1,760 49,826
Abercrombie & Fitch Company, Class A 1,748 38,526
Advance Auto Parts, Inc. 1,706 255,371
American Eagle Outfitters, Inc. 4,630 79,080
ANN, Inc. (I) 1,174 48,169
Asbury Automotive Group, Inc. (I) 703 58,419
Ascena Retail Group, Inc. (I) 3,897 56,545
AutoNation, Inc. (I) 2,776 178,580
AutoZone, Inc. (I) 755 515,031
Barnes & Noble, Inc. (I) 1,472 34,960
Bed Bath & Beyond, Inc. (I) 4,721 362,455
Best Buy Company, Inc. 8,097 305,986
Brown Shoe Company, Inc. 1,051 34,473
Cabela’s, Inc. (I)(L) 1,645 92,087
CarMax, Inc. (I) 5,135 354,366
Chico’s FAS, Inc. 3,497 61,862
Citi Trends, Inc. (I) 426 11,502
Conn’s, Inc. (I)(L) 865 26,192
Dick’s Sporting Goods, Inc. 2,828 161,168
DSW, Inc., Class A 2,004 73,908
Express, Inc. (I) 2,124 35,110
Five Below, Inc. (I) 1,214 43,182
Foot Locker, Inc. 3,359 211,617
Francesca’s Holdings Corp. (I) 1,068 19,010
GameStop Corp., Class A (L) 2,669 101,315
Genesco, Inc. (I) 586 41,741
GNC Holdings, Inc., Class A 2,110 103,538
Group 1 Automotive, Inc. 591 51,021
Guess?, Inc. 2,072 38,518
Haverty Furniture Companies, Inc. 645 16,048
hhgregg, Inc. (I) 733 4,493
Hibbett Sports, Inc. (I)(L) 640 31,398
Kirkland’s, Inc. (I) 488 11,590
L Brands, Inc. 6,809 642,021
Lithia Motors, Inc., Class A 616 61,237
Lowe’s Companies, Inc. 23,083 1,717,144
Lumber Liquidators Holdings, Inc. (I)(L) 593 18,253
MarineMax, Inc. (I) 667 17,682
Mattress Firm Holding Corp. (I)(L) 808 56,269
Monro Muffler Brake, Inc. 719 46,771
Murphy USA, Inc. (I) 1,119 80,982
New York & Company, Inc. (I) 1,751 4,378
O’Reilly Automotive, Inc. (I) 2,415 522,220
Office Depot, Inc. (I) 12,062 110,970
Outerwall, Inc. (L) 476 31,473
Pacific Sunwear of California, Inc. (I) 2,141 5,909
Penske Automotive Group, Inc. 2,047 105,400
Pier 1 Imports, Inc. 2,131 29,791
RadioShack Corp. (I)(L) 2,580 433
Rent-A-Center, Inc. 1,268 34,794
Restoration Hardware Holdings, Inc. (I) 851 84,411

The accompanying notes are an integral part of the financial statements. 272


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (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. 4,948 $ 521,321
Sally Beauty Holdings, Inc. (I) 3,603 123,835
Sears Hometown and Outlet Stores, Inc. (I) 553 4,269
Select Comfort Corp. (I) 1,360 46,879
Shoe Carnival, Inc. 708 20,844
Signet Jewelers, Ltd. 1,867 259,121
Sonic Automotive, Inc., Class A 1,330 33,117
Sportsman’s Warehouse Holdings, Inc. (I) 1,232   9,844
Stage Stores, Inc. 827 18,955
Staples, Inc. 15,061 245,268
Stein Mart, Inc. 1,168   14,542
Systemax, Inc. (I) 894 10,925
Tandy Leather Factory, Inc. 658 5,804
The Buckle, Inc. (L)   1,131 57,783
The Cato Corp., Class A 724 28,670
The Children’s Place Retail Stores, Inc. 580 37,230
The Container Store Group, Inc. (I)(L) 1,158 22,060
The Finish Line, Inc., Class A 1,184 29,032
The Gap, Inc. 10,161 440,276
The Home Depot, Inc. 31,469 3,575,193
The Men’s Wearhouse, Inc. 1,105 57,681
The Michaels Companies, Inc. (I) 4,758 128,751
The Pep Boys - Manny, Moe & Jack (I) 1,341 12,900
The TJX Companies, Inc. 16,225 1,136,561
The Wet Seal, Inc., Class A (I) 2,075 14
Tiffany & Company 3,043 267,814
Tile Shop Holdings, Inc. (I) 1,280 15,501
Tilly’s, Inc., Class A (I) 677 10,595
Tractor Supply Company 3,256 276,955
TravelCenters of America, LLC (I) 761 13,272
Ulta Salon Cosmetics & Fragrance, Inc. (I) 1,522 229,594
Urban Outfitters, Inc. (I) 3,156 144,071
Vitamin Shoppe, Inc. (I) 703 28,957
Williams-Sonoma, Inc. 2,190 174,565
Zumiez, Inc. (I) 769 30,952
15,110,376
Textiles, apparel and luxury goods - 0.8%
Carter’s, Inc. 1,236 114,293
Charles & Colvard, Ltd. (I) 983 1,150
Coach, Inc. 6,406 265,401
Columbia Sportswear Company 1,582 96,344
Crocs, Inc. (I) 2,044 24,140
Culp, Inc. 710 18,993
Deckers Outdoor Corp. (I) 801 58,369
Fossil Group, Inc. (I) 1,246 102,733
G-III Apparel Group, Ltd. (I) 510 57,452
Hanesbrands, Inc. 9,204 308,426
Iconix Brand Group, Inc. (I) 1,127 37,946
Kate Spade & Company (I) 2,991 99,869
Movado Group, Inc. 660 18,823
NIKE, Inc., Class B 20,318 2,038,505
Oxford Industries, Inc. 405 30,557
Perry Ellis International, Inc. (I) 451 10,445
PVH Corp. 1,924 205,021
Quiksilver, Inc. (I) 4,192 7,755
Ralph Lauren Corp. 2,054 270,101
Skechers U.S.A., Inc., Class A (I) 1,206 86,723
Steven Madden, Ltd. (I) 1,519 57,722
Tumi Holdings, Inc. (I) 1,612 39,430
Under Armour, Inc., Class A (I) 4,951 399,793
Unifi, Inc. (I) 506 18,262
Vera Bradley, Inc. (I) 970 15,743
VF Corp. 10,053 757,091
Vince Holding Corp. (I) 896 16,621
Wolverine World Wide, Inc. 2,360 78,942
5,236,650
79,322,642
Consumer staples - 8.4%
Beverages - 1.6%
Brown-Forman Corp., Class B 5,036 455,003
Castle Brands Inc (I) 5,939 8,315
Coca-Cola Bottling Company Consolidated 249 28,152
Coca-Cola Enterprises, Inc. 5,704 252,117
Constellation Brands, Inc., Class A (I) 4,502 523,177
Dr. Pepper Snapple Group, Inc. 4,492 352,532
Molson Coors Brewing Company, Class B 3,798 282,761
Monster Beverage Corp. (I) 3,909 540,986
National Beverage Corp. (I) 1,122 27,388
PepsiCo, Inc. 35,251 3,370,701
Primo Water Corp. (I) 1,119 5,852
The Boston Beer Company, Inc., Class A (I) 305 81,557
The Coca-Cola Company 102,601 4,160,471
Truett-hurst Inc (I) 1,028 3,125
10,092,137
Food and staples retailing - 2.5%
Casey’s General Stores, Inc. 899 81,000
Costco Wholesale Corp. 10,246 1,552,218
CVS Health Corp. 27,072 2,794,101
Fairway Group Holdings Corp. (I) 1,029 6,966
G. Willi-Food International, Ltd. (I) 825 4,711
Natural Grocers by Vitamin Cottage, Inc. (I) 638 17,615
PriceSmart, Inc. 723 61,441
Rite Aid Corp. (I) 23,088 200,635
Roundy’s, Inc. (I) 1,700 8,313
Safeway, Inc. (I) 5,383 915
Safeway, Inc. (I) 5,383 54
SpartanNash Company 915 28,877
Sprouts Farmers Market, Inc. (I) 3,470 122,248
SUPERVALU, Inc. (I) 6,097 70,908
Sysco Corp. 13,699 516,863
The Andersons, Inc. 712 29,455
The Chefs’ Warehouse, Inc. (I) 749 16,800
The Fresh Market, Inc. (I)(L) 1,153 46,858
The Kroger Company 11,399 873,847
United Natural Foods, Inc. (I) 1,141 87,903
Village Super Market, Inc., Class A 492 15,468
Wal-Mart Stores, Inc. 75,381 6,200,087
Walgreens Boots Alliance, Inc. 22,374 1,894,630
Weis Markets, Inc. 672 33,439
Whole Foods Market, Inc. 8,471 441,170
15,106,522
Food products - 1.6%
Archer-Daniels-Midland Company 15,084 714,982
B&G Foods, Inc. 1,268 37,317
Boulder Brands, Inc. (I) 1,484 14,143
Bunge, Ltd. 3,361 276,812
Cal-Maine Foods, Inc. (L) 1,128 44,060
Calavo Growers, Inc. 391 20,105
Campbell Soup Company 7,305 340,048
ConAgra Foods, Inc. 9,831 359,126
Darling Ingredients, Inc. (I) 3,756 52,622
Dean Foods Company 2,386 39,441
Diamond Foods, Inc. (I) 814 26,512
Farmer Brothers Company (I) 451 11,162

The accompanying notes are an integral part of the financial statements. 273


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Total Stock Market Index Trust (continued)

Shares or
Principal
       Amount        Value
COMMON STOCKS (continued)
Food products (continued)
Flowers Foods, Inc.   4,909 $ 111,631
Fresh Del Monte Produce, Inc. (L) 1,244 48,404
General Mills, Inc. 14,293 808,984
Hormel Foods Corp. 6,141 349,116
Ingredion, Inc. 1,762 137,119
J&J Snack Foods Corp. 475 50,683
Kellogg Company 8,404 554,244
Keurig Green Mountain, Inc. 3,799 424,462
Kraft Foods Group, Inc. 13,875 1,208,721
Lancaster Colony Corp. 662 63,003
Landec Corp. (I) 774 10,797
Limoneira Company (L) 516 11,249
McCormick & Company, Inc. 3,000 231,330
Mead Johnson Nutrition Company 4,721 474,602
Mondelez International, Inc., Class A 39,457 1,424,003
Omega Protein Corp. (I) 623 8,529
Pilgrim’s Pride Corp. (L) 6,123 138,319
Pinnacle Foods, Inc. 2,785 113,656
Post Holdings, Inc. (I) 1,108 51,899
Sanderson Farms, Inc. (L) 556 44,285
Seaboard Corp. (I) 28 115,696
Seneca Foods Corp., Class A (I) 449 13,385
Snyder’s-Lance, Inc. 1,674 53,501
The Hain Celestial Group, Inc. (I) 2,396 153,464
The Hershey Company 5,174 522,108
The J.M. Smucker Company 2,354 272,428
The WhiteWave Foods Company (I) 4,069 180,419
Tootsie Roll Industries, Inc. (L) 1,441 48,878
TreeHouse Foods, Inc. (I) 971 82,554
Tyson Foods, Inc., Class A 8,190 313,677
9,957,476
Household products - 1.4%
Central Garden & Pet Company, Class A (I) 1,353 14,369
Church & Dwight Company, Inc. 3,068 262,069
Colgate-Palmolive Company 21,370 1,481,796
Energizer Holdings, Inc. 1,416 195,479
HRG Group, Inc. (I) 4,972 62,051
Kimberly-Clark Corp. 8,705 932,393
The Clorox Company 2,974 328,300
The Procter & Gamble Company 63,310 5,187,621
WD-40 Company 367 32,494
8,496,572
Personal products - 0.2%
Avon Products, Inc. 9,953 79,524
Coty, Inc., Class A (I) 8,405 203,989
Elizabeth Arden, Inc. (I)(L) 729 11,372
Herbalife, Ltd. (I)(L) 2,146 91,763
Inter Parfums, Inc. 827 26,977
Mannatech, Inc. (I) 243 4,508
Medifast, Inc. (I) 325 9,740
Natural Alternatives International, Inc. (I) 865 4,740
Nu Skin Enterprises, Inc., Class A 1,393   83,873
Revlon, Inc., Class A (I) 1,169 48,163
Rock Creek Pharmaceuticals, Inc. (I) 4,147 423
Synutra International, Inc. (I) 1,786 11,430
The Estee Lauder Companies, Inc., Class A 8,920   741,787
The Female Health Company 941 2,663
United-Guardian, Inc. 255 4,830
USANA Health Sciences, Inc. (I) 326 36,225
  1,362,007
Tobacco - 1.1%
Altria Group, Inc. 46,404 2,321,128
Lorillard, Inc. 8,394 548,548
Philip Morris International, Inc. 36,566 2,754,517
Reynolds American, Inc. 12,394 854,071
Universal Corp. 512 24,146
Vector Group, Ltd. (L) 2,504 55,013
6,557,423
51,572,137
Energy - 8.1%
Energy equipment and services - 1.1%
Aspen Aerogels Inc (I) 888 6,465
Atwood Oceanics, Inc. 1,533 43,093
Baker Hughes, Inc. 10,158 645,846
Basic Energy Services, Inc. (I) 1,040 7,207
Bristow Group, Inc. 775 42,199
C&J Energy Services, Ltd. (I) 1,221 13,590
Cameron International Corp. (I) 4,730 213,418
CARBO Ceramics, Inc. (L) 550 16,781
CSI Compressco LP 632 12,160
Dawson Geophysical Company (I) 413 1,764
Diamond Offshore Drilling, Inc. (L) 3,130 83,853
Dresser-Rand Group, Inc. (I) 1,769 142,139
Dril-Quip, Inc. (I) 921 62,987
Era Group, Inc. (I) 732 15,255
Exterran Holdings, Inc. 1,574 52,839
Exterran Partners LP 1,288 32,097
FMC Technologies, Inc. (I) 5,491 203,222
Forum Energy Technologies, Inc. (I) 2,178 42,689
Geospace Technologies Corp. (I) 318 5,250
Global Geophysical Services, Inc. (I) 769 0
Gulfmark Offshore, Inc., Class A 652 8,502
Halliburton Company 19,890 872,773
Helix Energy Solutions Group, Inc. (I) 2,492 37,280
Helmerich & Payne, Inc. 2,488 169,358
Hercules Offshore, Inc. (I)(L) 4,030 1,689
Hornbeck Offshore Services, Inc. (I) 906 17,042
ION Geophysical Corp. (I) 3,857 8,370
Key Energy Services, Inc. (I) 3,596 6,545
Matrix Service Company (I) 756 13,275
McDermott International, Inc. (I)(L) 5,524 21,212
Mitcham Industries, Inc. (I) 331 1,523
Nabors Industries, Ltd. 6,944 94,786
National Oilwell Varco, Inc. 10,056 502,699
Natural Gas Services Group, Inc. (I) 382 7,342
Newpark Resources, Inc. (I) 1,864 16,981
Nuverra Environmental Solutions, Inc. (I)(L) 513 1,826
Oceaneering International, Inc. 2,504 135,041
Oil States International, Inc. (I) 1,241 49,355
Parker Drilling Company (I) 3,008 10,498
Patterson-UTI Energy, Inc. 3,410 64,023
PHI, Inc. (I) 416 12,513
Pioneer Energy Services Corp. (I) 1,558 8,444
RigNet, Inc. (I) 493 14,095
Rowan Companies PLC, Class A 2,839 50,279
RPC, Inc. 5,171 66,241
Schlumberger, Ltd. 30,332 2,530,902
SEACOR Holdings, Inc. (I) 481 33,511
Seventy Seven Energy, Inc. (I) 1,142 4,739
Superior Energy Services, Inc. 3,634 81,184
Tesco Corp. 1,032 11,734
TETRA Technologies, Inc. (I) 2,105 13,009
Tidewater, Inc. (L) 1,167 22,336

The accompanying notes are an integral part of the financial statements. 274


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (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)
Unit Corp. (I) 1,166 $ 32,625
USA Compression Partners LP 682 13,961
Vantage Drilling Company (I) 6,701 2,195
Willbros Group, Inc. (I) 1,365 4,518
6,585,260
Oil, gas and consumable fuels - 7.0%
Abraxas Petroleum Corp. (I) 2,156 7,007
Alliance Holdings GP LP 1,310 67,714
Alliance Resource Partners LP 1,688 56,430
Alon USA Energy, Inc. 1,778 29,461
Alon USA Partners LP 1,451 26,539
Alpha Natural Resources, Inc. (I)(L) 5,125 5,124
American Midstream Partners LP 539 8,947
Anadarko Petroleum Corp. 11,850 981,299
Antero Resources Corp. (I) 6,143 216,971
Apache Corp. 8,941 539,411
Approach Resources, Inc. (I)(L) 931 6,135
Arch Coal, Inc. (I)(L) 5,005 5,005
Atlas Energy Group LLC (I) 624 3,750
Bill Barrett Corp. (I) 1,147 9,520
Blueknight Energy Partners LP 1,840 14,315
Boardwalk Pipeline Partners LP 5,475 88,148
Bonanza Creek Energy, Inc. (I) 949 23,402
BP Prudhoe Bay Royalty Trust (L) 428 24,910
BPZ Resources, Inc. (I) 3,316 87
BreitBurn Energy Partners LP 3,145 17,235
Buckeye Partners LP 2,741 207,000
Cabot Oil & Gas Corp. 9,750 287,918
California Resources Corp. 7,291 55,485
Callon Petroleum Company (I) 1,840 13,745
Calumet Specialty Products Partners LP 1,508 36,267
Carrizo Oil & Gas, Inc. (I) 1,120 55,608
Centrus Energy Corp. (I) 11 56
Ceres, Inc. (I) 621 205
Cheniere Energy Partners LP 7,961 238,512
Cheniere Energy, Inc. (I) 5,572 431,273
Chesapeake Energy Corp. (L) 15,607 220,995
Chevron Corp. 44,399 4,661,007
Cimarex Energy Company 2,027 233,287
Clayton Williams Energy, Inc. (I)(L) 276 13,974
Clean Energy Fuels Corp. (I)(L) 2,565 13,684
Cloud Peak Energy, Inc. (I) 1,465 8,526
Cobalt International Energy, Inc. (I) 9,452 88,943
Comstock Resources, Inc. 1,203 4,295
Concho Resources, Inc. (I) 2,641 306,145
ConocoPhillips 28,738 1,789,228
CONSOL Energy, Inc. 5,391   150,355
Contango Oil & Gas Company (I) 413 9,086
Continental Resources, Inc. (I) 8,708 380,278
Crestwood Equity Partners LP 4,062 24,372
Crestwood Midstream Partners LP 4,454   64,628
Crossamerica Partners LP 307 9,990
CVR Refining LP 3,325 68,961
DCP Midstream Partners LP 2,295 84,800
Delek Logistics Partners LP 335 14,583
Delek US Holdings, Inc. 1,438 57,161
Denbury Resources, Inc. (L) 8,232 60,011
Devon Energy Corp. 9,555 576,262
DHT Holdings, Inc. 104 726
Diamondback Energy, Inc. (I) 1,126 86,522
Dorchester Minerals LP   652 14,826
Dorian LPG, Ltd. (I) 1,398 18,216
Eagle Rock Energy Partners LP 3,560 8,295
Eclipse Resources Corp. (I)(L) 3,835 21,553
Emerald Oil, Inc. (I)(L) 1,745 1,291
Emerge Energy Services LP 540 25,612
Enable Midstream Partners LP 4,784 78,458
Enbridge Energy Management LLC (L) 1,591 57,881
Enbridge Energy Partners LP 5,889 212,063
Endeavour International Corp. (I) 1,197 11
Energen Corp. 1,687 111,342
Energy Transfer Equity LP 13,125 831,600
Energy Transfer Partners LP 8,628 481,011
Energy XXI, Ltd. (L) 2,405 8,754
EnLink Midstream LLC 3,910 127,231
EnLink Midstream Partners LP 5,401 133,621
Enterprise Products Partners LP 42,731 1,407,132
EOG Resources, Inc. 12,803 1,173,907
EP Energy Corp., Class A (I) 5,818 60,973
EQT Corp. 3,514 291,205
EQT Midstream Partners LP 1,001 77,738
EV Energy Partner LP 1,057 14,090
Evolution Petroleum Corp. 1,206 7,176
EXCO Resources, Inc. (L) 6,714 12,287
Exxon Mobil Corp. 99,733 8,477,305
Foresight Energy LP 1,572 24,507
FX Energy, Inc. (I) 1,516 1,895
Genesis Energy LP 1,998 93,906
Gevo, Inc. (I) 8,118 1,632
Global Partners LP 689 23,977
Goodrich Petroleum Corp. (I) 1,175 4,171
Green Plains, Inc. 981 28,008
Gulfport Energy Corp. (I) 2,005 92,050
Halcon Resources Corp. (I)(L) 10,236 15,763
Harvest Natural Resources, Inc. (I) 980 438
Hess Corp. 7,180 487,307
Holly Energy Partners LP 1,400 44,016
HollyFrontier Corp. 4,633 186,571
Houston American Energy Corp. (I) 690 138
Hugoton Royalty Trust 1,047 6,114
Hyperdynamics Corp. (I) 479 167
Isramco, Inc. (I) 58 7,296
James River Coal Company (I) 776 21
Jones Energy, Inc., Class A (I)(L) 1,547 13,892
Kinder Morgan, Inc. 52,191 2,195,153
KiOR, Inc., Class A (I) 2,519 16
Laredo Petroleum, Inc. (I)(L) 3,465 45,184
Legacy Reserves LP 1,481 14,988
Linn Energy LLC 7,483 82,762
LinnCo LLC (L) 2,890 27,657
LRR Energy LP 875 5,574
Magellan Midstream Partners LP 5,258 403,341
Magnum Hunter Resources Corp. (I)(L) 5,368 14,333
Marathon Oil Corp. 15,737 410,893
Marathon Petroleum Corp. 6,618 677,617
MarkWest Energy Partners LP 4,141 273,720
Martin Midstream Partners LP 822 29,132
Matador Resources Company (I) 1,856 40,684
Memorial Production Partners LP 2,018 32,712
Memorial Resource Development Corp. (I) 4,543 80,593
Mid-Con Energy Partners LP 778 4,326
Midcoast Energy Partners LP 1,048 14,504
Midstates Petroleum Company, Inc. (I) 1,497 1,272
Miller Energy Resources, Inc. (I)(L) 1,008 630
MPLX LP 1,740 127,472
Murphy Oil Corp. 4,117 191,852

The accompanying notes are an integral part of the financial statements. 275


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (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)
Natural Resource Partners LP 2,561 $ 17,364
New Source Energy Partners LP 315 1,544
Newfield Exploration Company (I) 3,225 113,165
Niska Gas Storage Partners LLC 938 1,679
Noble Energy, Inc. 8,459 413,645
Northern Oil and Gas, Inc. (I)(L) 1,562 12,043
Northern Tier Energy LP 2,044 51,795
NuStar Energy LP 1,800 109,260
NuStar GP Holdings LLC 1,048 37,099
Oasis Petroleum, Inc. (I)(L) 2,408 34,242
Occidental Petroleum Corp. 18,228 1,330,644
ONEOK Partners LP 5,767 235,524
ONEOK, Inc. 4,821 232,565
Pacific Ethanol, Inc. (I) 607 6,550
Panhandle Oil and Gas, Inc., Class A 388 7,679
Parsley Energy, Inc., Class A (I) 2,708 43,274
PBF Energy, Inc., Class A 1,270 43,078
PBF Logistics LP 511 11,630
PDC Energy, Inc. (I) 875 47,285
Peabody Energy Corp. (L) 6,575 32,349
Penn Virginia Corp. (I)(L) 1,811 11,735
PetroQuest Energy, Inc. (I) 1,669 3,839
Phillips 66 13,066 1,026,988
Phillips 66 Partners LP 792 55,971
Pioneer Natural Resources Company 3,348 547,431
Plains All American Pipeline LP 8,236 401,670
Plains GP Holdings LP, Class A 14,177 402,201
QEP Midstream Partners LP 1,424 22,328
QEP Resources, Inc. 4,227 88,133
Quicksilver Resources, Inc. (I) 4,280 105
Range Resources Corp. 3,963 206,235
Regency Energy Partners LP 9,325 213,263
Renewable Energy Group, Inc. (I) 1,196 11,027
Resolute Energy Corp. (I) 2,211 1,246
REX American Resources Corp. (I) 197 11,980
Rex Energy Corp. (I) 1,246 4,635
Rhino Resource Partners LP 1,123 2,695
Rice Energy, Inc. (I) 2,920 63,539
Rose Rock Midstream LP 819 38,903
Rosetta Resources, Inc. (I) 1,418 24,134
RSP Permian, Inc. (I) 1,641 41,337
Sabine Oil & Gas Corp. (I) 2,769 235
Sanchez Energy Corp. (I)(L) 1,465 19,060
SandRidge Energy, Inc. (I)(L) 10,864 19,338
SandRidge Mississippian Trust 505 1,803
SemGroup Corp., Class A 1,031   83,862
Ship Finance International, Ltd. (L) 2,094 30,991
SM Energy Company 1,585 81,913
Solazyme, Inc. (I)(L) 2,319   6,632
Southcross Energy Partners LP 522 7,308
Southwestern Energy Company (I)(L) 8,217 190,552
Spectra Energy Corp. 15,677 567,037
Spectra Energy Partners LP 6,722 348,132
Stone Energy Corp. (I) 1,292 18,967
Summit Midstream Partners LP 784 25,221
Sunoco Logistics Partners LP 4,914 203,145
Sunoco LP   274 14,070
Swift Energy Company (I)(L) 1,049 2,266
Synergy Resources Corp. (I) 1,618 19,173
Syntroleum Corp. (I) 371 247
Tallgrass Energy Partners LP 561 28,370
Targa Resources Corp. 1,225 117,343
Targa Resources Partners LP 3,712 153,528
TC PipeLines LP 1,394 90,819
Teekay Corp. 1,672 77,865
Tengasco, Inc. (I) 10,700 2,440
Tesoro Corp. 2,986 272,592
Tesoro Logistics LP 1,252 67,358
The Williams Companies, Inc. 17,478 884,212
Transmontaigne Partners LP 375 12,101
Triangle Petroleum Corp. (I)(L) 2,167 10,900
Ultra Petroleum Corp. (I)(L) 3,463 54,127
Uranerz Energy Corp. (I)(L) 2,497 2,772
Uranium Energy Corp. (I)(L) 2,161 3,242
Uranium Resources, Inc. (I) 370 492
US Energy Corp. (I) 1,052 1,189
VAALCO Energy, Inc. (I) 1,471 3,604
Valero Energy Corp. 12,328 784,307
Valero Energy Partners LP 1,400 67,760
Viper Energy Partners LP 1,860 33,945
W&T Offshore, Inc. (L) 1,817 9,285
Western Gas Equity Partners LP 4,999 299,940
Western Gas Partners LP 2,580 169,893
Western Refining Logistics LP 1,045 30,336
Western Refining, Inc. 2,296 113,399
Westmoreland Coal Company (I) 461 12,336
Westmoreland Resource Partner (I) 36 426
Whiting Petroleum Corp. (I) 3,892 120,263
Williams Partners LP 8,807 433,481
World Fuel Services Corp. 1,687 96,969
World Point Terminals LP 1,085 17,881
WPX Energy, Inc. (I) 4,651 50,835
Yuma Energy Inc (I) 2,484 2,534
Zaza Energy Corp. (I) 252 411
Zion Oil & Gas, Inc. (I) 1,070 1,862
43,375,738
49,960,998
Financials - 16.5%
Banks - 5.0%
1st Source Corp. 623 20,017
Access National Corp. 751 14,074
Ameriana Bancorp 334 5,444
American River Bankshares (I) 748 7,084
Ameris Bancorp 786 20,743
AmeriServ Financial, Inc. 1,409 4,199
Associated Banc-Corp. 3,482 64,765
BancFirst Corp. 351 21,404
BancorpSouth, Inc. 2,154 50,016
Bank of America Corp. 245,998 3,785,909
Bank of Hawaii Corp. 1,017 62,251
Bank of Kentucky Financial Corp. 256 12,557
Bank of the Ozarks, Inc. 1,882 69,502
BankUnited, Inc. 2,340 76,612
Banner Corp. 543 24,924
Bar Harbor Bankshares 390 12,695
BB&T Corp. 16,801 655,071
BBCN Bancorp, Inc. 1,800 26,046
Blue Hills Bancorp, Inc. (I) 1,138 15,044
BOK Financial Corp. 1,512 92,565
Boston Private Financial Holdings, Inc. 2,048 24,883
C1 Financial, Inc. (I) 591 11,081
Cardinal Financial Corp. 1,099 21,958
Cascade Bancorp (I) 2,560 12,288
Cathay General Bancorp 1,995 56,758
CenterState Banks, Inc. 1,478 17,603

The accompanying notes are an integral part of the financial statements. 276


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Total Stock Market Index Trust (continued)

Shares or
Principal
       Amount        Value
COMMON STOCKS (continued)
Banks (continued)
Central Pacific Financial Corp. 984 $ 22,602
Century Bancorp, Inc., Class A 407 16,158
Chemical Financial Corp. 849 26,625
CIT Group, Inc. 4,342 195,911
Citigroup, Inc. 70,972 3,656,477
Citizens & Northern Corp.   901 18,182
City Holding Company 491 23,092
City National Corp. 1,212 107,965
CNB Financial Corp. 935 15,914
CoBiz Financial, Inc. 1,378 16,977
Columbia Banking System, Inc. 1,354 39,225
Comerica, Inc. 4,081   184,176
Commerce Bancshares, Inc. 2,113   89,422
Community Bank Systems, Inc. 963 34,081
Community Trust Bancorp, Inc. 468 15,519
ConnectOne Bancorp, Inc. 880 17,125
Cullen/Frost Bankers, Inc. 1,423 98,301
Customers Bancorp, Inc. (I) 972 23,678
CVB Financial Corp. 2,517 40,121
Eagle Bancorp, Inc. (I) 732 28,109
East West Bancorp, Inc. 3,355 135,743
Enterprise Financial Services Corp. 1,076 22,230
FCB Financial Holdings, Inc., Class A (I) 1,074 29,395
Fifth Third Bancorp 19,352 364,785
Financial Institutions, Inc. 569 13,047
First BanCorp (I) 5,138 31,856
First Busey Corp. 3,376 22,585
First Citizens BancShares, Inc., Class A 213 55,314
First Commonwealth Financial Corp. 2,339 21,051
First Community Bancshares, Inc. 889 15,584
First Financial Bancorp 1,424 25,361
First Financial Bankshares, Inc. (L) 1,445 39,940
First Financial Corp. 561 20,134
First Horizon National Corp. 5,425 77,523
First Internet Bancorp 379 7,038
First Interstate BancSystem, Inc., Class A 1,225 34,080
First Merchants Corp. 848 19,962
First Midwest Bancorp, Inc. 1,885 32,742
First NBC Bank Holding Company (I) 450 14,841
First Niagara Financial Group, Inc. 7,470 66,035
First Republic Bank 3,209 183,202
First Security Group, Inc. (I) 2,065 4,956
FirstMerit Corp. 3,766 71,780
Flushing Financial Corp. 1,135 22,779
FNB Corp. 3,815 50,129
Fulton Financial Corp. 4,331 53,445
German American Bancorp, Inc. 661 19,453
Glacier Bancorp, Inc. 1,833 46,100
Hancock Holding Company 1,794 53,569
Hanmi Financial Corp. 938 19,839
Heritage Financial Corp. 1,075 18,275
Hilltop Holdings, Inc. (I) 2,126 41,329
Home BancShares, Inc. 1,601 54,258
Huntington Bancshares, Inc. 18,827 208,038
IBERIABANK Corp. 793 49,983
Independent Bank Corp. (MA) 550 24,129
Independent Bank Corp. (MI) 832 10,675
Independent Bank Group, Inc. 303 11,790
International Bancshares Corp. 1,624 42,273
Investar Holding Corp. 730 12,483
Investors Bancorp, Inc. 8,116 95,120
JPMorgan Chase & Co. 87,970 5,329,223
KeyCorp 20,287 287,264
Lakeland Financial Corp. 457 18,545
LegacyTexas Financial Group, Inc. 1,099 24,980
LNB Bancorp, Inc. 567 10,115
M&T Bank Corp. 3,009 382,143
MB Financial, Inc. 1,784 55,857
Mercantile Bank Corp. 756 14,780
MidWestOne Financial Group, Inc. 622 17,932
MutualFirst Financial, Inc. 388 8,943
National Bank Holdings Corp., Class A 949 17,851
National Bankshares, Inc. (L) 637 19,008
National Penn Bancshares, Inc. 3,509 37,792
NBT Bancorp, Inc. 992 24,860
Northrim BanCorp, Inc. 514 12,614
OFG Bancorp 1,164 18,996
Old National Bancorp 2,661 37,760
Pacific Continental Corp. 1,080 14,278
PacWest Bancorp 2,369 111,082
Park National Corp. 301 25,754
Penson Worldwide, Inc. (I) 1,757 7
Peoples Bancorp, Inc. 543 12,837
Pinnacle Financial Partners, Inc. 843 37,480
Popular, Inc. (I) 2,351 80,851
Porter Bancorp, Inc. (I) 600 498
Preferred Bank 590 16,207
PrivateBancorp, Inc. 1,747 61,442
Prosperity Bancshares, Inc. 1,581 82,971
QCR Holdings, Inc. 744 13,347
Regions Financial Corp. 32,264 304,895
Renasant Corp. (L) 690 20,735
Republic Bancorp, Inc., Class A 553 13,676
S&T Bancorp, Inc. 834 23,669
Sandy Spring Bancorp, Inc. 750 19,673
Seacoast Banking Corp. of Florida (I) 1,514 21,605
ServisFirst Bancshares, Inc. 655 21,608
Signature Bank (I) 1,141 147,851
Simmons First National Corp., Class A 433 19,689
South State Corp. 607 41,513
Southside Bancshares, Inc. (L) 679 19,481
Square 1 Financial, Inc., Class A (I) 904 24,200
State Bank Financial Corp. 1,173 24,633
Sterling Bancorp 1,927 25,841
Stock Yards Bancorp, Inc. 611 21,037
Suffolk Bancorp 619 14,707
SunTrust Banks, Inc. 12,353 507,585
Susquehanna Bancshares, Inc. 4,360 59,776
SVB Financial Group (I) 1,166 148,129
Synovus Financial Corp. 3,289 92,125
Talmer Bancorp, Inc., Class A 1,719 26,326
TCF Financial Corp. 3,834 60,270
Texas Capital Bancshares, Inc. (I) 1,028 50,012
The Bancorp, Inc. (I) 1,064 9,608
The PNC Financial Services Group, Inc. 12,582 1,173,146
Tompkins Financial Corp. 443 23,856
Towne Bank (L) 974 15,662
TriCo Bancshares 863 20,824
TriState Capital Holdings, Inc. (I) 1,159 12,135
Trustmark Corp. 1,569 38,095
U.S. Bancorp 42,088 1,837,983
UMB Financial Corp. 1,083 57,280
Umpqua Holdings Corp. 5,147 88,425
Union Bankshares Corp. 1,081 24,009
Union Bankshares, Inc. 580 14,778
United Bancorp, Inc. 941 7,434

The accompanying notes are an integral part of the financial statements. 277


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Total Stock Market Index Trust (continued)

Shares or
Principal
       Amount        Value
COMMON STOCKS (continued)
Banks (continued)
United Bankshares, Inc. 1,602 $ 60,203
United Community Banks, Inc. 1,109 20,938
United Security Bancshares, Inc. 739   6,112
Univest Corp. of Pennsylvania 922 18,246
Valley National Bancorp 4,698 44,349
Washington Trust Bancorp, Inc. 492 18,789
Webster Financial Corp. 2,088 77,360
Wells Fargo & Company 122,048 6,639,411
WesBanco, Inc. 1,230   40,073
West Bancorp, Inc. 1,083 21,541
WestAmerica Bancorp. (L)   712 30,766
Western Alliance Bancorp (I) 2,136 63,311
Wilshire Bancorp, Inc. 2,050 20,439
Wintrust Financial Corp. 1,120 53,402
Yadkin Financial Corp. (I) 957 19,427
Zions Bancorporation 4,758 128,466
31,068,525
Capital markets - 2.4%
Affiliated Managers Group, Inc. (I) 1,299 278,999
AllianceBernstein Holding LP 2,190 67,605
American Capital, Ltd. (I) 6,440 95,248
Ameriprise Financial, Inc. 4,377 572,687
Apollo Investment Corp. (L) 5,361 41,146
Ares Capital Corp. 6,872 117,992
Ares Management LP 1,977 36,654
Arlington Asset Investment Corp., Class A (L) 677 16,289
Artisan Partners Asset
       Management, Inc., Class A 1,735 78,873
Ashford, Inc. (I) 27 3,207
BGC Partners, Inc., Class A 4,863 45,955
BlackRock Kelso Capital Corp. 1,786 16,181
BlackRock, Inc. 3,890 1,423,118
Cohen & Steers, Inc. (L) 1,079 44,185
Cowen Group, Inc., Class A (I) 2,816 14,643
E*TRADE Financial Corp. (I) 6,771 193,346
Eaton Vance Corp. 2,769 115,301
Ellington Financial LLC 739 14,713
Evercore Partners, Inc., Class A 903 46,649
FBR & Company (I) 458 10,584
Federated Investors, Inc., Class B 2,362 80,048
Fifth Street Finance Corp. 3,923 28,638
Financial Engines, Inc. (L) 1,195 49,987
Fortress Investment Group LLC, Class A 10,733 86,615
Franklin Resources, Inc. 14,674 753,070
FXCM, Inc., Class A 1,105 2,354
GAMCO Investors, Inc., Class A 622 48,833
GFI Group, Inc. 2,941 17,440
Golub Capital BDC, Inc. 1,030 18,077
Greenhill & Company, Inc. 703 27,874
Harris & Harris Group, Inc. (I) 1,138 3,505
Hercules Technology Growth Capital, Inc. 1,298 17,497
HFF, Inc., Class A 916 34,387
Horizon Technology Finance Corp. 716 9,895
Interactive Brokers Group, Inc., Class A 1,373 46,709
INTL. FCStone, Inc. (I) 680 20,216
Invesco, Ltd. 10,105 401,067
Investment Technology Group, Inc. (I) 961 29,128
Janus Capital Group, Inc. 4,317 74,209
KCAP Financial, Inc. 1,914 12,881
Ladenburg Thalmann
       Financial Services, Inc. (I) 4,635 17,891
Lazard, Ltd., Class A 2,789 146,674
Legg Mason, Inc. 2,715 149,868
LPL Financial Holdings, Inc. 2,369 103,904
Main Street Capital Corp. (L) 1,117 34,515
Medallion Financial Corp. 722 6,686
Medley Capital Corp. 1,039 9,507
Moelis & Company, Class A 1,259 37,921
Morgan Stanley 45,986 1,641,240
MVC Capital, Inc. 1,286 12,191
New Mountain Finance Corp. (L) 1,367 19,958
Northern Trust Corp. 5,410 376,807
Northstar Asset Management, Inc. 4,555 106,314
Oaktree Capital Group LLC 3,643 188,197
Och-Ziff Capital Management
       Group LLC, Class A 11,232 141,972
Oppenheimer Holdings, Inc., Class A 428 10,041
PennantPark Investment Corp. 1,523 13,783
Piper Jaffray Companies (I) 361 18,938
Prospect Capital Corp. (L) 6,274 53,015
Pzena Investment Management, Inc., Class A 2,091 19,174
Raymond James Financial, Inc. 3,277 186,068
RCS Capital Corp., Class A 670 7,129
Saratoga Investment Corp. 446 7,069
SEI Investments Company 3,889 171,466
Solar Capital, Ltd. 1,264 25,583
Solar Senior Capital, Ltd. 978 15,756
State Street Corp. 9,921 729,491
Stellus Capital Investment Corp. 1,024 12,360
Stifel Financial Corp. (I) 1,589 88,587
T. Rowe Price Group, Inc. 6,169 499,566
TCP Capital Corp. 849 13,601
TD Ameritrade Holding Corp. 12,846 478,642
The Bank of New York Mellon Corp. 26,468 1,065,072
The Blackstone Group LP 12,096 470,413
The Carlyle Group LP 1,413 38,292
The Charles Schwab Corp. 30,583 930,947
The Goldman Sachs Group, Inc. 10,305 1,937,031
THL Credit, Inc. 1,140 14,011
TICC Capital Corp. 1,539 10,650
TPG Specialty Lending, Inc. 1,156 19,895
Triangle Capital Corp. 656 14,963
TriplePoint Venture Growth BDC Corp. 664 9,369
U.S. Global Investors, Inc., Class A 1,559 4,981
Virtus Investment Partners, Inc. 232 30,339
Waddell & Reed Financial, Inc., Class A 1,952 96,702
Walter Investment Management Corp. (I)(L) 929 15,003
Westwood Holdings Group, Inc. 304 18,331
WisdomTree Investments, Inc. 2,724 58,457
15,074,175
Consumer finance - 0.8%
American Express Company 24,459 1,910,737
Asta Funding, Inc. (I) 1,253 10,450
Atlanticus Holdings Corp. (I) 1,048 2,389
Capital One Financial Corp. 13,056 1,029,074
Cash America International, Inc. 711 16,566
Consumer Portfolio Services, Inc. (I) 1,525 10,660
Credit Acceptance Corp. (I) 508 99,060
Discover Financial Services 10,747 605,593
Encore Capital Group, Inc. (I) 614 25,536
Enova International, Inc. (I) 650 12,799
Ezcorp, Inc., Class A (I) 1,228 11,212
First Cash Financial Services, Inc. (I) 673 31,308
Green Dot Corp., Class A (I) 1,027 16,350
Navient Corp. 9,613 195,432
Nelnet, Inc., Class A 1,071 50,680

The accompanying notes are an integral part of the financial statements. 278


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Total Stock Market Index Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Consumer finance (continued)
PRA Group, Inc. (I) 1,203 $ 65,347
Santander Consumer USA Holdings, Inc. 8,069 186,717
SLM Corp. (I) 9,718 90,183
Springleaf Holdings, Inc. (I) 2,601 134,654
Synchrony Financial (I) 19,365 587,728
The First Marblehead Corp. (I) 358 2,230
World Acceptance Corp. (I)(L) 270 19,688
5,114,393
Diversified financial services - 1.9%
Berkshire Hathaway, Inc., Class B (I) 57,603 8,313,265
CBOE Holdings, Inc. 1,984 113,892
CME Group, Inc. 7,882 746,504
Gain Capital Holdings, Inc. 1,162 11,353
Intercontinental Exchange Group, Inc. 2,655 619,332
Leucadia National Corp. 8,626 192,274
Life Partners Holdings, Inc. 788 79
MarketAxess Holdings, Inc. 941 78,009
Marlin Business Services Corp. 471 9,434
McGraw-Hill Financial, Inc. 6,331 654,625
Moody’s Corp. 4,934   512,149
MSCI, Inc. 2,721 166,825
NewStar Financial, Inc. (I) 1,315 15,425
PHH Corp. (I) 1,363 32,944
PICO Holdings, Inc. (I) 659 10,682
The NASDAQ OMX Group, Inc. 3,905 198,921
Voya Financial, Inc. 5,754 248,055
11,923,768
Insurance - 2.4%  
Aflac, Inc. 10,667 682,795
Alleghany Corp. (I) 379 184,573
American Equity Investment Life
       Holding Company 1,878 54,706
American Financial Group, Inc. 2,019 129,519
American International Group, Inc. 33,455 1,832,999
American National Insurance Company 628 61,789
AMERISAFE, Inc. 520 24,050
AmTrust Financial Services, Inc. (L) 1,771 100,920
Arch Capital Group, Ltd. (I) 2,997 184,615
Argo Group International Holdings, Ltd. 657 32,949
Arthur J. Gallagher & Company 3,636 169,983
Aspen Insurance Holdings, Ltd. 1,417 66,925
Assurant, Inc. 1,589 97,580
Assured Guaranty, Ltd. 3,878 102,340
Atlas Financial Holdings, Inc. (I) 635 11,220
Axis Capital Holdings, Ltd. 2,241 115,591
Baldwin & Lyons, Inc., Class B 834 19,566
Brown & Brown, Inc. 3,305 109,429
Cincinnati Financial Corp. 3,793 202,091
CNA Financial Corp. 6,192 256,535
CNO Financial Group, Inc. 5,057 87,082
Crawford & Company, Class B 1,640 14,170
eHealth, Inc. (I) 439 4,118
EMC Insurance Group, Inc. 608 20,550
Employers Holdings, Inc. 815 21,997
Endurance Specialty Holdings, Ltd. 964 58,939
Enstar Group, Ltd. (I) 365 51,779
Erie Indemnity Company, Class A 1,067 93,106
Everest Re Group, Ltd. 964 167,736
FBL Financial Group, Inc., Class A 716 44,399
Federated National Holding Company 385 11,781
Fidelity & Guaranty Life 1,517 32,160
First American Financial Corp. 2,568 91,626
FNF Group 6,610 242,984
Genworth Financial, Inc., Class A (I) 11,494 84,021
HCC Insurance Holdings, Inc. 2,354 133,401
HCI Group, Inc. 331 15,183
Heritage Insurance Holdings, Inc. (I) 903 19,875
Horace Mann Educators Corp. 890 30,438
Infinity Property & Casualty Corp. 294 24,123
Investors Title Company 166 12,287
Kansas City Life Insurance Company 529 24,297
Kemper Corp. 1,255 48,895
Lincoln National Corp. 6,117 351,483
Loews Corp. 8,870 362,162
Maiden Holdings, Ltd. 1,994 29,571
Markel Corp. (I) 325 249,912
Marsh & McLennan Companies, Inc. 12,670 710,660
MBIA, Inc. (I) 4,550 42,315
Meadowbrook Insurance Group, Inc. 1,995 16,958
Mercury General Corp. 1,321 76,288
MetLife, Inc. 26,414 1,335,228
Montpelier Re Holdings, Ltd. 1,014 38,978
National General Holdings Corp. 1,992 37,250
National Interstate Corp. 564 15,837
Old Republic International Corp. 5,919 88,430
OneBeacon Insurance Group, Ltd., Class A 2,540 38,633
PartnerRe, Ltd. 1,037 118,560
Primerica, Inc. 1,305 66,425
Principal Financial Group, Inc. 6,860 352,398
ProAssurance Corp. 1,354 62,162
Prudential Financial, Inc. 10,728 861,566
Reinsurance Group of America, Inc. 1,554 144,817
RenaissanceRe Holdings, Ltd. 986 98,334
RLI Corp. 1,092 57,232
Safety Insurance Group, Inc. 398 23,781
Selective Insurance Group, Inc. 1,417 41,164
StanCorp Financial Group, Inc. 1,053 72,236
State Auto Financial Corp. 1,117 27,132
Stewart Information Services Corp. 683 27,757
Symetra Financial Corp. 2,689 63,084
The Allstate Corp. 10,148 722,233
The Chubb Corp. 5,602 566,362
The Hanover Insurance Group, Inc. 992 71,999
The Hartford Financial Services Group, Inc. 10,557 441,494
The Navigators Group, Inc. (I) 351 27,322
The Phoenix Companies, Inc. (I) 217 10,848
The Progressive Corp. 13,871 377,291
The Travelers Companies, Inc. 7,910 855,308
Torchmark Corp. 3,038 166,847
United Fire Group, Inc. 746 23,700
United Insurance Holdings Corp. 687 15,458
Universal Insurance Holdings, Inc. 966 24,720
Unum Group 5,917 199,580
Validus Holdings, Ltd. 1,959 82,474
W.R. Berkley Corp. 2,926 147,792
White Mountains Insurance Group, Ltd. 136 93,095
15,011,998
Real estate investment trusts - 3.5%
Acadia Realty Trust 1,506 52,529
AG Mortgage Investment Trust, Inc. 872 16,428
Agree Realty Corp. 612 20,178
Alexander’s, Inc. 132 60,269
Alexandria Real Estate Equities, Inc. 1,617 158,531
Altisource Residential Corp., Class B 611 12,745
American Assets Trust, Inc. 1,121 48,517

The accompanying notes are an integral part of the financial statements. 279


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (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 Campus Communities, Inc. 2,339 $ 100,273
American Capital Agency Corp. 8,021 171,088
American Capital Mortgage Investment Corp. 1,180 21,193
American Homes 4 Rent, Class A 4,217 69,791
American Realty Capital Properties, Inc. 21,417 210,957
American Residential Properties, Inc. (I) 1,082 19,465
American Tower Corp. 9,231 869,099
Annaly Capital Management, Inc. 21,131 219,762
Anworth Mortgage Asset Corp. 3,235 16,466
Apartment Investment & Management
       Company, Class A 3,316 130,518
Apollo Commercial Real Estate Finance, Inc. 1,131 19,431
Apollo Residential Mortgage, Inc. 942 15,025
Arbor Realty Trust, Inc. 2,192 15,300
Ares Commercial Real Estate Corp. 1,441 15,923
Armada Hoffler Properties, Inc. 2,193 23,377
ARMOUR Residential REIT, Inc. 8,542 27,078
Ashford Hospitality Prime, Inc. 823 13,802
Ashford Hospitality Trust, Inc. 2,407 23,155
Associated Estates Realty Corp. 1,297 32,010
AvalonBay Communities, Inc. 3,050   531,463
Aviv REIT, Inc. 1,183 43,180
BioMed Realty Trust, Inc. 4,437 100,542
Blackstone Mortgage Trust, Inc., Class A 1,347 38,214
Boston Properties, Inc. 3,553   499,125
Brandywine Realty Trust 4,232 67,627
Brixmor Property Group, Inc. 5,747 152,583
BRT Realty Trust (I) 1,467 10,474
Camden Property Trust 2,001 156,338
Campus Crest Communities, Inc. 1,960 14,034
Capstead Mortgage Corp. 2,151 25,317
CareTrust REIT, Inc. 1,184 16,055
CatchMark Timber Trust, Inc., Class A 1,518 17,791
CBL & Associates Properties, Inc. 3,918 77,576
Cedar Realty Trust, Inc. 3,268 24,477
Chambers Street Properties 5,839 46,011
Chatham Lodging Trust 802 23,587
Chesapeake Lodging Trust 1,205 40,765
Chimera Investment Corp. 22,437 70,452
Colony Financial, Inc. 2,462 63,815
Columbia Property Trust, Inc. 2,913 78,709
CoreSite Realty Corp. 596 29,013
Corporate Office Properties Trust 2,061 60,552
Corrections Corp. of America 2,505 100,851
Cousins Properties, Inc. 5,383 57,060
Crown Castle International Corp. 7,780 642,161
CubeSmart 3,554 85,829
CyrusOne, Inc. 519 16,151
CYS Investments, Inc. 3,822 34,054
DCT Industrial Trust, Inc. 2,000 69,320
DDR Corp. 8,136 151,492
DiamondRock Hospitality Company 4,435 62,667
Digital Realty Trust, Inc. 3,107 204,938
Douglas Emmett, Inc. 3,392 101,116
Duke Realty Corp. 7,981 173,746
DuPont Fabros Technology, Inc. 1,651 53,955
Dynex Capital, Inc. 1,997 16,915
EastGroup Properties, Inc. 779 46,849
Education Realty Trust, Inc. 1,205 42,633
Empire State Realty Trust, Inc., Class A 2,269 42,680
EPR Properties 1,236 74,197
Equity Commonwealth (I) 2,882 76,517
Equity LifeStyle Properties, Inc. 1,863 102,372
Equity One, Inc. 2,788 74,412
Equity Residential 8,446 657,606
Essex Property Trust, Inc. 1,487 341,861
Excel Trust, Inc. 1,798 25,208
Extra Space Storage, Inc. 2,706 182,844
Federal Realty Investment Trust 1,545 227,439
FelCor Lodging Trust, Inc. 3,209 36,871
First Industrial Realty Trust, Inc. 2,658 56,961
First Potomac Realty Trust 1,475 17,538
Franklin Street Properties Corp. 2,442 31,306
Gaming and Leisure Properties, Inc. 2,074 76,468
General Growth Properties, Inc. 20,710 611,981
Getty Realty Corp. 1,062 19,328
Government Properties Income Trust 1,666 38,068
Gramercy Property Trust, Inc. 823 23,102
Hatteras Financial Corp. 2,201 39,970
HCP, Inc. 10,605 458,242
Health Care REIT, Inc. 7,189 556,141
Healthcare Realty Trust, Inc. 2,408 66,894
Healthcare Trust of America, Inc., Class A 2,728 76,002
Hersha Hospitality Trust 5,147 33,301
Highwoods Properties, Inc. 2,055 94,078
Home Properties, Inc. 1,318 91,324
Hospitality Properties Trust 3,315 109,362
Host Hotels & Resorts, Inc. 17,657 356,318
Hudson Pacific Properties, Inc. 1,670 55,427
Independence Realty Trust, Inc. 1,051 9,974
Inland Real Estate Corp. 2,409 25,752
Invesco Mortgage Capital, Inc. 2,791 43,344
Investors Real Estate Trust 2,505 18,788
Iron Mountain, Inc. 4,824 175,980
iStar Financial, Inc. (I) 2,248 29,224
JAVELIN Mortgage Investment Corp. 1,059 8,006
Kilroy Realty Corp. 1,914 145,789
Kimco Realty Corp. 9,470 254,270
Kite Realty Group Trust 2,004 56,453
Lamar Advertising Company, Class A 2,209 130,927
LaSalle Hotel Properties 2,426 94,274
Lexington Realty Trust 5,628 55,323
Liberty Property Trust 3,388 120,952
LTC Properties, Inc. 822 37,812
Mack-Cali Realty Corp. 2,086 40,218
Medical Properties Trust, Inc. 3,932 57,958
MFA Financial, Inc. 7,524 59,139
Mid-America Apartment Communities, Inc. 1,694 130,895
Monmouth Real Estate
       Investment Corp., Class A 1,889 20,987
National Health Investors, Inc. 812 57,660
National Retail Properties, Inc. 2,759 113,036
New Residential Investment Corp. 3,019 45,376
New Senior Investment Group Inc 1,798 29,901
New York Mortgage Trust, Inc. 1,975 15,326
New York REIT, Inc. 4,346 45,546
Newcastle Investment Corp. 1,798 8,720
NorthStar Realty Finance (L) 5,759 104,353
Omega Healthcare Investors, Inc. 2,861 116,071
One Liberty Properties, Inc. 787 19,219
Outfront Media, Inc. 3,109 93,021
Owens Realty Mortgage, Inc. 632 9,467
Parkway Properties, Inc. 2,579 44,746
Pebblebrook Hotel Trust 1,599 74,465
Pennsylvania Real Estate Investment Trust 1,656 38,469
PennyMac Mortgage Investment Trust 1,521 32,382

The accompanying notes are an integral part of the financial statements. 280


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (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)
Piedmont Office Realty Trust, Inc., Class A 3,612 $ 67,219
Plum Creek Timber Company, Inc. 4,045 175,755
Post Properties, Inc. 1,263 71,903
Potlatch Corp. 951 38,078
Prologis, Inc. 11,743 511,525
PS Business Parks, Inc. 623 51,734
Public Storage 4,018 792,109
QTS Realty Trust, Inc., Class A 719 26,179
RAIT Financial Trust 2,187 15,003
Ramco-Gershenson Properties Trust 1,766 32,848
Rayonier, Inc. 2,819 76,000
Realty Income Corp. 5,117   264,037
Redwood Trust, Inc. 2,106 37,634
Regency Centers Corp. 2,143 145,810
Resource Capital Corp. 3,205 14,551
Retail Opportunity Investments Corp. 1,793 32,812
Retail Properties of America, Inc., Class A 5,457 87,476
Rexford Industrial Realty, Inc. 899 14,213
RLJ Lodging Trust 3,050 95,496
Rouse Properties, Inc. 1,430 27,113
Ryman Hospitality Properties 1,232 75,041
Sabra Health Care REIT, Inc. 1,195 39,614
Saul Centers, Inc. 486 27,799
Select Income REIT 1,310 32,737
Senior Housing Properties Trust 4,602   102,118
Silver Bay Realty Trust Corp. 1,100 17,776
Simon Property Group, Inc. 7,257 1,419,759
SL Green Realty Corp. 2,231 286,416
Sovran Self Storage, Inc. 788 74,025
Spirit Realty Capital, Inc. 9,291 112,235
STAG Industrial, Inc. 1,358 31,940
Starwood Property Trust, Inc. 4,985 121,136
Starwood Waypoint Residential Trust (L) 918 23,730
Strategic Hotels & Resorts, Inc. (I) 5,792 71,995
Summit Hotel Properties, Inc. 2,378 33,458
Sun Communities, Inc. 1,125 75,060
Sunstone Hotel Investors, Inc. 5,081 84,700
Tanger Factory Outlet Centers 2,168 76,249
Taubman Centers, Inc. 1,475 113,767
Terreno Realty Corp. 993 22,640
The Macerich Company 3,200 269,856
Trade Street Residential, Inc. 1,158 8,291
Two Harbors Investment Corp. 7,848 83,346
UDR, Inc. 5,913 201,219
Universal Health Realty Income Trust 503 28,294
Urban Edge Properties 2,181 51,690
Urstadt Biddle Properties, Inc. 242 4,552
Urstadt Biddle Properties, Inc., Class A 910 20,985
Ventas, Inc. 6,832 498,873
Vornado Realty Trust 4,362 488,544
Washington Real Estate Investment Trust 1,560 43,103
Weingarten Realty Investors 2,862 102,975
Western Asset Mortgage Capital Corp. 1,122 16,920
Weyerhaeuser Company 12,375 410,231
Wheeler Real Estate Investment Trust, Inc. 1,681 3,849
Winthrop Realty Trust 1,052 17,169
WP Carey, Inc. 2,249 152,932
WP Glimcher, Inc. 4,412 73,372
21,343,879
Real estate management and development - 0.2%
Alexander & Baldwin, Inc. 1,192 51,471
American Spectrum Realty, Inc. (I) 265 32
AV Homes, Inc. (I) 996 15,896
CBRE Group, Inc., Class A (I) 7,748 299,925
Forest City Enterprises, Inc., Class A (I) 4,623 117,979
Forestar Group, Inc. (I) 1,047 16,511
FRP Holdings, Inc. (I) 434 15,798
Gladstone Land Corp. 633 7,628
Jones Lang LaSalle, Inc. 1,021 173,978
Kennedy-Wilson Holdings, Inc. 2,289 59,834
Marcus & Millichap, Inc. (I) 862 32,308
Tejon Ranch Company (I) 488 12,908
The Howard Hughes Corp. (I) 922 142,928
The St. Joe Company (I) 2,200 40,832
988,028
Thrifts and mortgage finance - 0.3%
Astoria Financial Corp. 2,156 27,920
Beneficial Bancorp, Inc. (I) 2,114 23,867
Berkshire Hills Bancorp, Inc. 656 18,171
BofI Holding, Inc. (I) 329 30,610
Brookline Bancorp, Inc. 2,335 23,467
Capitol Federal Financial, Inc. 3,236 40,450
Chicopee Bancorp, Inc. 729 12,306
Clifton Bancorp, Inc. 1,200 16,932
Dime Community Bancshares, Inc. 1,286 20,705
Doral Financial Corp. (I) 195 16
EverBank Financial Corp. 2,690 48,501
Federal Agricultural Mortgage Corp., Class C 323 9,105
Federal Home Loan Mortgage Corp. (I)(L) 15,491 35,319
Federal National Mortgage Association (I)(L) 27,693 65,079
First Defiance Financial Corp. 515 16,902
Flagstar Bancorp, Inc. (I) 1,507 21,867
Fox Chase Bancorp, Inc. 1,070 18,008
HF Financial Corp. 665 9,822
HomeStreet, Inc. (I) 713 13,062
Hudson City Bancorp, Inc. 12,343 129,355
IMPAC Mortgage Holdings, Inc. (I) 266 3,312
Kearny Financial Corp. (I) 1,615 21,932
Ladder Capital Corp., Class A (I) 2,354 43,573
LendingTree, Inc. (I) 326 18,259
Meridian Bancorp, Inc. (I) 1,352 17,806
MGIC Investment Corp. (I) 8,139 78,379
Naugatuck Valley Financial Corp. (I) 892 8,189
New Hampshire Thrift Bancshares, Inc. 812 12,667
New York Community Bancorp, Inc. (L) 9,326 156,024
NMI Holdings, Inc., Class A (I) 1,469 11,003
Northfield Bancorp, Inc. 1,491 22,097
Northwest Bancshares, Inc. 2,417 28,641
OceanFirst Financial Corp. 1,130 19,515
Ocwen Financial Corp. (I)(L) 2,993 24,692
Oritani Financial Corp. 1,190 17,315
People’s United Financial, Inc. 6,498 98,770
Provident Financial Services, Inc. 1,750 32,638
Radian Group, Inc. 4,589 77,049
Security National Financial Corp., Class A (I) 463 2,468
Territorial Bancorp, Inc. 817 19,412
TFS Financial Corp. 6,784 99,589
TrustCo Bank Corp. 2,802 19,278
United Community Financial Corp. 1,925 10,511
United Financial Bancorp, Inc. 1,528 18,993
Walker & Dunlop, Inc. (I) 894 15,851
Washington Federal, Inc. 2,085 45,463
WSFS Financial Corp. 300 22,689
1,527,579
102,052,345

The accompanying notes are an integral part of the financial statements. 281


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Total Stock Market Index Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Health care - 12.6%
Biotechnology - 3.1%
ACADIA Pharmaceuticals, Inc. (I) 2,272 $ 74,044
Acceleron Pharma, Inc. (I) 639 24,320
Achillion Pharmaceuticals, Inc. (I) 2,357 23,240
Acorda Therapeutics, Inc. (I) 997 33,180
Aegerion Pharmaceuticals, Inc. (I)(L) 693 18,136
Affymax, Inc. 914 110
Agios Pharmaceuticals, Inc. (I) 744   70,159
Akebia Therapeutics, Inc. (I)(L) 384 4,266
Alder Biopharmaceuticals, Inc. (I) 876 25,281
Alexion Pharmaceuticals, Inc. (I) 4,620 800,646
Alkermes PLC (I) 3,410 207,908
Alnylam Pharmaceuticals, Inc. (I) 1,814 189,418
AMAG Pharmaceuticals, Inc. (I) 504 27,549
Ambit Biosciences Corp. (I) 515 309
Amgen, Inc. 17,742 2,836,059
Amicus Therapeutics, Inc. (I) 2,070 22,522
Anacor Pharmaceuticals, Inc. (I) 1,005 58,139
Anthera Pharmaceuticals, Inc. (I) 2,041   9,123
Applied Genetic Technologies Corp. (I) 426 8,516
Ardelyx Inc (I) 547 7,160
Arena Pharmaceuticals, Inc. (I)(L) 5,611 24,520
ARIAD Pharmaceuticals, Inc. (I)(L) 4,350 35,844
ArQule, Inc. (I) 1,903 4,263
Array BioPharma, Inc. (I)(L) 3,361 24,771
Arrowhead Research Corp. (I)(L) 1,645 11,128
Asterias Biotherapeutics, Inc. (I) 151 1,018
Auspex Pharmaceuticals, Inc. (I) 529 53,043
Avalanche Biotechnologies, Inc. (I) 534 21,638
AVEO Pharmaceuticals, Inc. (I) 937 1,359
BIND Therapeutics, Inc. (I) 634 3,481
BioCryst Pharmaceuticals, Inc. (I)(L) 1,528 13,798
Biogen, Inc. (I) 5,519 2,330,343
BioMarin Pharmaceutical, Inc. (I) 3,449 429,814
BioTime, Inc. (I)(L) 2,574 12,793
Bluebird Bio, Inc. (I) 466 56,279
Cara Therapeutics, Inc. (I) 743 7,467
CEL-SCI Corp. (I) 923 969
Celgene Corp. (I) 18,695 2,155,160
Celladon Corp. (I) 703 13,315
Celldex Therapeutics, Inc. (I)(L) 2,207 61,509
Cepheid, Inc. (I) 1,626 92,519
ChemoCentryx, Inc. (I) 1,019 7,693
Chimerix, Inc. (I) 598 22,539
Clovis Oncology, Inc. (I) 780 57,899
Concert Pharmaceuticals Inc (I) 590 8,936
Coronado Biosciences, Inc. (I) 808 3,111
CTI BioPharma Corp. (I) 3,833 6,938
Curis, Inc. (I) 1,723 4,135
Cytokinetics, Inc. (I) 592 4,014
Cytori Therapeutics, Inc. (I)(L) 4,643 5,479
Dendreon Corp. (I) 5,942 232
Dicerna Pharmaceuticals, Inc. (I) 616 14,802
Durata Therapeutics, Inc. (I) 722 1,321
Dyax Corp. (I) 3,331 55,811
Dynavax Technologies Corp. (I)(L) 804 18,034
Emergent Biosolutions, Inc. (I) 908 26,114
Enanta Pharmaceuticals, Inc. (I)(L) 448 13,718
Enzon Pharmaceuticals, Inc. 1,758 1,863
Epirus Biopharmaceuticals, Inc. (I) 39 349
Epizyme, Inc. (I) 647 12,151
Esperion Therapeutics, Inc. (I) 413 38,244
Exact Sciences Corp. (I)(L) 1,948 42,895
Exelixis, Inc. (I)(L) 4,652 11,956
Five Prime Therapeutics, Inc. (I) 578 13,207
Flexion Therapeutics, Inc. (I) 500 11,260
Foundation Medicine, Inc. (I)(L) 681 32,763
Galena Biopharma, Inc. (I) 4,519 6,281
Genocea Biosciences, Inc. (I) 622 7,377
Genomic Health, Inc. (I) 747 22,821
Geron Corp. (I)(L) 3,630 13,685
Gilead Sciences, Inc. (I) 35,329 3,466,835
GTx, Inc. (I) 1,712 1,157
Halozyme Therapeutics, Inc. (I) 2,949 42,112
Hyperion Therapeutics, Inc. (I) 613 28,137
Immune Design Corp. (I) 432 9,120
ImmunoCellular Therapeutics, Ltd. (I) 2,073 1,005
ImmunoGen, Inc. (I)(L) 1,931 17,282
Immunomedics, Inc. (I)(L) 2,223 8,514
Incyte Corp. (I) 3,937 360,865
Infinity Pharmaceuticals, Inc. (I) 1,260 17,615
Inovio Pharmaceuticals, Inc. (I)(L) 1,464 11,946
Insmed, Inc. (I) 1,079 22,443
Insys Therapeutics, Inc. (I)(L) 803 46,678
Intercept Pharmaceuticals, Inc. (I)(L) 498 140,446
Intrexon Corp. (I)(L) 2,147 97,409
Ironwood Pharmaceuticals, Inc. (I) 3,209 51,344
Isis Pharmaceuticals, Inc. (I) 2,779 176,939
Keryx Biopharmaceuticals, Inc. (I)(L) 2,088 26,580
Kite Pharma, Inc. (I) 898 51,797
Kythera Biopharmaceuticals, Inc. (I) 566 28,385
Lexicon Pharmaceuticals, Inc. (I)(L) 11,846 11,186
Ligand Pharmaceuticals, Inc. (I) 534 41,177
MacroGenics, Inc. (I) 697 21,865
MannKind Corp. (I)(L) 9,636 50,107
Medivation, Inc. (I) 1,776 229,228
Merrimack Pharmaceuticals, Inc. (I)(L) 2,436 28,940
MiMedx Group, Inc. (I)(L) 2,301 23,930
Momenta Pharmaceuticals, Inc. (I) 1,421 21,599
Myriad Genetics, Inc. (I)(L) 1,697 60,074
Nanosphere, Inc. (I) 1,542 358
Neuralstem, Inc. (I)(L) 2,608 4,955
Neurocrine Biosciences, Inc. (I) 1,654 65,680
NewLink Genetics Corp. (I) 768 42,017
Northwest Biotherapeutics, Inc. (I)(L) 2,131 15,705
Novavax, Inc. (I) 5,135 42,466
Omthera Pharmaceuticals, Inc. (I) 598 368
OncoGenex Pharmaceuticals, Inc. (I) 486 1,045
OncoMed Pharmaceuticals, Inc. (I) 664 17,118
Onconova Therapeutics, Inc. (I) 648 1,562
Ophthotech Corp. (I) 656 30,524
OPKO Health, Inc. (I)(L) 10,344 146,574
Orexigen Therapeutics, Inc. (I) 3,358 26,293
Osiris Therapeutics, Inc. (I)(L) 877 15,418
Otonomy, Inc. (I) 519 18,352
OvaScience, Inc. (I)(L) 531 18,442
PDL BioPharma, Inc. (L) 3,871 27,232
Peregrine Pharmaceuticals, Inc. (I) 7,182 9,696
Pharmacyclics, Inc. (I) 1,780 455,591
PharmAthene, Inc. (I) 2,050 3,342
Portola Pharmaceuticals, Inc. (I) 802 30,444
Progenics Pharmaceuticals, Inc. (I) 2,184 13,060
Protalix BioTherapeutics, Inc. (I) 2,723 4,847
PTC Therapeutics, Inc. (I) 640 38,944
Puma Biotechnology, Inc. (I) 682 161,027
Raptor Pharmaceutical Corp. (I)(L) 1,637 17,794

The accompanying notes are an integral part of the financial statements. 282


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Total Stock Market Index Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Biotechnology (continued)
Receptos, Inc. (I) 437 $ 72,057
Regeneron Pharmaceuticals, Inc. (I) 2,362 1,066,396
Regulus Therapeutics, Inc. (I)(L) 805 13,637
Repligen Corp. (I) 766 23,256
Retrophin, Inc. (I) 447 10,710
Rigel Pharmaceuticals, Inc. (I) 2,154 7,690
Sage Therapeutics, Inc. (I)(L) 622 31,243
Sangamo BioSciences, Inc. (I) 1,501 23,536
Sarepta Therapeutics, Inc. (I)(L) 1,043 13,851
Savient Pharmaceuticals, Inc. (I) 1,834 0
Seattle Genetics, Inc. (I) 2,827 99,934
SIGA Technologies, Inc. (I) 1,202 2,332
Spectrum Pharmaceuticals, Inc. (I)(L) 1,952 11,849
Sunesis Pharmaceuticals, Inc. (I) 1,601 3,922
Synageva BioPharma Corp. (I) 753 73,440
Synergy Pharmaceuticals, Inc. (I)(L) 2,510 11,596
Synta Pharmaceuticals Corp. (I) 3,256 6,317
Synthetic Biologics, Inc. (I) 3,772 8,261
T2 Biosystems, Inc. (I) 544 8,443
Targacept, Inc. (I) 722 2,144
TESARO, Inc. (I)(L) 903 51,832
Threshold Pharmaceuticals, Inc. (I) 2,246 9,119
Ultragenyx Pharmaceutical, Inc. (I) 688 42,718
United Therapeutics Corp. (I) 1,103 190,196
Vanda Pharmaceuticals, Inc. (I) 813 7,561
Verastem, Inc. (I) 716 7,282
Vericel Corp. (I) 158 585
Versartis, Inc. (I) 475 8,726
Vertex Pharmaceuticals, Inc. (I) 5,569 656,975
Vital Therapies, Inc. (I)(L) 664 16,607
Xencor, Inc. (I) 877 13,436
XOMA Corp. (I) 2,314 8,423
Zafgen, Inc. (I) 643 25,469
ZIOPHARM Oncology, Inc. (I)(L) 2,099 22,606
19,116,462
Health care equipment and supplies - 1.6%
Abaxis, Inc. 476 30,516
Abbott Laboratories 35,176 1,629,704
ABIOMED, Inc. (I) 1,039 74,372
Accuray, Inc. (I)(L) 1,959 18,219
Alere, Inc. (I) 1,895 92,666
Align Technology, Inc. (I) 1,916 103,052
Allied Healthcare Products, Inc. (I) 1,783 2,906
Alphatec Holdings, Inc. (I) 2,105 3,052
Analogic Corp. 318 28,906
AngioDynamics, Inc. (I) 1,074 19,106
Anika Therapeutics, Inc. (I) 309 12,722
Antares Pharma, Inc. (I)(L) 3,213 8,707
AtriCure, Inc. (I) 972 19,916
Atrion Corp. 45 15,548
Baxano Surgical, Inc. (I) 1,095 2
Baxter International, Inc. 12,660 867,210
Becton, Dickinson and Company 4,826 692,965
Biolase, Inc. (I) 1,230 2,485
Boston Scientific Corp. (I) 31,126 552,487
C.R. Bard, Inc. 1,730 289,516
Cantel Medical Corp. 1,032 49,020
Cardiovascular Systems, Inc. (I) 758 29,592
CONMED Corp. 658 33,222
Cyberonics, Inc. (I)(L) 593 38,498
Cynosure, Inc., Class A (I) 691 21,193
Delcath Systems, Inc. (I) 78 75
DENTSPLY International, Inc. 3,194 162,543
DexCom, Inc. (I) 1,823 113,646
Edwards Lifesciences Corp. (I) 2,471 352,019
Endologix, Inc. (I) 1,563 26,680
EnteroMedics, Inc. (I) 2,044 1,870
Exactech, Inc. (I) 465 11,918
GenMark Diagnostics, Inc. (I) 1,303 16,913
Globus Medical, Inc., Class A (I) 2,359 59,541
Greatbatch, Inc. (I) 531 30,718
Haemonetics Corp. (I) 1,210 54,353
Halyard Health, Inc. (I) 1,088 53,530
HeartWare International, Inc. (I) 402 35,284
Hill-Rom Holdings, Inc. 1,350 66,150
Hologic, Inc. (I) 6,532 215,719
ICU Medical, Inc. (I) 360 33,530
IDEXX Laboratories, Inc. (I) 1,173 181,205
Inogen, Inc. (I) 564 18,042
Insulet Corp. (I) 1,332 44,422
Integra LifeSciences Holdings Corp. (I) 811 49,998
Intuitive Surgical, Inc. (I) 841 424,730
Invacare Corp. 804 15,606
iRadimed Corp. (I) 718 10,935
Iridex Corp. (I) 746 7,818
K2M Group Holdings, Inc. (I) 1,052 23,197
Kewaunee Scientific Corp. 314 5,470
LDR Holding Corp. (I) 525 19,236
LeMaitre Vascular, Inc. 746 6,251
Masimo Corp. (I) 1,228 40,499
MELA Sciences, Inc. (I) 89 229
Meridian Bioscience, Inc. 1,077 20,549
Merit Medical Systems, Inc. (I) 1,003 19,308
Natus Medical, Inc. (I) 845 33,352
Neogen Corp. (I) 891 41,636
NuVasive, Inc. (I) 1,152 52,980
NxStage Medical, Inc. (I) 1,350 23,355
Ocular Therapeutix, Inc. (I) 655 27,500
OraSure Technologies, Inc. (I) 1,641 10,732
Orthofix International NV (I) 450 16,151
PhotoMedex, Inc. (I) 575 1,156
Quidel Corp. (I) 889 23,985
ResMed, Inc. 3,264 234,290
Rockwell Medical Technologies, Inc. (I) 1,088 11,892
Roka Bioscience, Inc. (I) 746 2,387
Sirona Dental Systems, Inc. (I) 1,325 119,237
Spectranetics Corp. (I)(L) 1,076 37,402
St. Jude Medical, Inc. 6,652 435,041
STAAR Surgical Company (I) 873 6,486
STERIS Corp. 1,337 93,951
Stryker Corp. 8,846 816,044
SurModics, Inc. (I) 502 13,067
Symmetry Surgical, Inc. (I) 253 1,854
Synergetics USA, Inc. (I) 781 4,210
Teleflex, Inc. 962 116,238
The Cooper Companies, Inc. 1,107 207,474
Thoratec Corp. (I) 1,365 57,180
TriVascular Technologies, Inc. (I) 804 8,434
Unilife Corp. (I)(L) 2,757 11,056
Uroplasty, Inc. (I) 1,021 1,246
Utah Medical Products, Inc. 216 12,930
Varian Medical Systems, Inc. (I) 2,401 225,910
Vascular Solutions, Inc. (I) 536 16,252
West Pharmaceutical Services, Inc. 1,609 96,878
Wright Medical Group, Inc. (I) 1,188 30,650
Zeltiq Aesthetics, Inc. (I) 935 28,826

The accompanying notes are an integral part of the financial statements. 283


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Total Stock Market Index Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Health care equipment and supplies (continued)
Zimmer Holdings, Inc. 3,932 $ 462,089
10,039,437
Health care providers and services - 2.5%
Acadia Healthcare Company, Inc. (I) 1,241 88,856
Accretive Health, Inc. (I) 2,325 13,439
Aceto Corp. 706 15,532
Adeptus Health, Inc., Class A (I)(L) 658 33,045
Aetna, Inc. 8,278 881,855
Air Methods Corp. (I) 930 43,329
Almost Family, Inc. (I) 242 10,820
Amedisys, Inc. (I) 738 19,764
American Caresource Holdings, Inc. (I) 2,009 6,027
AmerisourceBergen Corp. 5,216 592,903
AMN Healthcare Services, Inc. (I) 1,002 23,116
Amsurg Corp. (I) 1,135 69,825
Anthem, Inc. 6,396 987,606
Bio-Reference Labs, Inc. (I) 734 25,866
BioScrip, Inc. (I) 1,595 7,066
Brookdale Senior Living, Inc. (I) 4,101 154,854
Capital Senior Living Corp. (I) 703 18,236
Cardinal Health, Inc. 7,835 707,265
Catamaran Corp. (I) 4,772 284,125
Centene Corp. (I) 2,780   196,518
Chemed Corp. 429   51,223
Cigna Corp. 6,156 796,833
Community Health Systems, Inc. (I) 2,740 143,247
CorVel Corp. (I) 482 16,586
Cross Country Healthcare, Inc. (I) 1,058 12,548
DaVita HealthCare Partners, Inc. (I) 4,983 405,018
Envision Healthcare Holdings, Inc. (I) 4,223 161,952
ExamWorks Group, Inc. (I) 982 40,871
Express Scripts Holding Company (I) 17,441 1,513,356
Hanger, Inc. (I) 841 19,082
HCA Holdings, Inc. (I) 10,103 760,049
Health Net, Inc. (I) 1,922 116,262
HealthEquity, Inc. (I) 1,249 31,213
HealthSouth Corp. 1,991 88,321
Healthways, Inc. (I) 968 19,070
Henry Schein, Inc. (I) 1,952 272,538
Hooper Holmes Inc (I) 9,709 5,049
Humana, Inc. 3,598 640,516
InfuSystems Holdings, Inc. (I) 1,524 4,130
IPC Healthcare, Inc. (I) 426 19,869
Kindred Healthcare, Inc. 1,792 42,632
Laboratory Corp. of America Holdings (I) 2,327 293,411
Landauer, Inc. 263 9,242
LHC Group, Inc. (I) 506 16,713
LifePoint Hospitals, Inc. (I) 1,048 76,976
Magellan Health Services, Inc. (I) 700 49,574
McKesson Corp. 5,405 1,222,611
Medcath Corp. (I) 613 840
MEDNAX, Inc. (I) 2,303 166,991
Molina Healthcare, Inc. (I) 1,059 71,260
National Healthcare Corp. 369 23,509
National Research Corp., Class B 660 21,120
Omnicare, Inc. 2,263 174,387
Owens & Minor, Inc. 1,467 49,643
Patterson Companies, Inc. 2,325 113,437
PDI, Inc. (I) 770 1,040
PharMerica Corp. (I) 818 23,059
Premier, Inc., Class A (I) 3,304 124,164
Psychemedics Corp. 470 7,802
Quest Diagnostics, Inc. 3,339 256,602
RadNet, Inc. (I) 1,485 12,474
Select Medical Holdings Corp. 3,255 48,272
Surgical Care Affiliates, Inc. (I) 823 28,254
Team Health Holdings, Inc. (I) 1,628 95,254
Tenet Healthcare Corp. (I) 2,266 112,190
The Ensign Group, Inc. 547 25,632
The Providence Service Corp. (I) 384 20,398
Trupanion, Inc. (I) 1,144 9,152
UnitedHealth Group, Inc. 22,717 2,687,194
Universal American Corp. (I) 1,908 20,377
Universal Health Services, Inc., Class B 2,293 269,909
US Physical Therapy, Inc. 394 18,715
VCA, Inc. (I) 1,958 107,338
WellCare Health Plans, Inc. (I) 1,019 93,198
15,591,150
Health care technology - 0.2%
Allscripts Healthcare Solutions, Inc. (I) 4,228 50,567
athenahealth, Inc. (I) 894 106,735
Castlight Health, Inc., B Shares (I)(L) 2,151 16,692
Cerner Corp. (I) 7,984 584,908
Computer Programs & Systems, Inc. (L) 274 14,867
HealthStream, Inc. (I) 711 17,917
HMS Holdings Corp. (I) 2,028 31,333
IMS Health Holdings, Inc. (I) 7,770 210,334
MedAssets, Inc. (I) 1,448 27,251
Medidata Solutions, Inc. (I) 1,308 64,144
Merge Healthcare, Inc. (I) 4,292 19,185
Omnicell, Inc. (I) 940 32,994
Quality Systems, Inc. 1,382 22,084
Veeva Systems, Inc., Class A (I) 2,874 73,373
Vocera Communications, Inc. (I) 551 5,466
1,277,850
Life sciences tools and services - 0.6%
Accelerate Diagnostics, Inc. (I)(L) 997 22,433
Affymetrix, Inc. (I) 2,012 25,271
Agilent Technologies, Inc. 7,772 322,927
Albany Molecular Research, Inc. (I)(L) 803 14,133
BG Medicine, Inc. (I) 1,563 1,266
Bio-Rad Laboratories, Inc., Class A (I) 662 89,489
Bio-Techne Corp. 832 83,441
Bruker Corp. (I) 3,989 73,677
Cambrex Corp. (I) 660 26,156
Charles River
        Laboratories International, Inc. (I) 1,061 84,127
Fluidigm Corp. (I) 639 26,902
Illumina, Inc. (I) 3,259 605,001
Luminex Corp. (I) 925 14,800
Mettler-Toledo International, Inc. (I) 673 221,181
Pacific Biosciences of California, Inc. (I) 1,657 9,677
PAREXEL International Corp. (I) 1,321 91,136
PerkinElmer, Inc. 2,548 130,305
Quintiles Transnational Holdings, Inc. (I) 2,944 197,160
Sequenom, Inc. (I)(L) 2,766 10,926
Thermo Fisher Scientific, Inc. 9,336 1,254,198
Waters Corp. (I) 1,956 243,170
3,547,376
Pharmaceuticals - 4.6%
AbbVie, Inc. 37,209 2,178,215
AcelRx Pharmaceuticals, Inc. (I) 1,558 6,014
Actavis PLC (I) 8,734 2,599,413
Acura Pharmaceuticals, Inc. (I) 1,383 1,093

The accompanying notes are an integral part of the financial statements. 284


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Total Stock Market Index Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Pharmaceuticals (continued)
Aerie Pharmaceuticals, Inc. (I) 629 $ 19,713
Akorn, Inc. (I) 2,483 117,967
Alexza Pharmaceuticals, Inc. (I) 2,067 4,279
Alimera Sciences, Inc. (I) 814 4,078
Amphastar Pharmaceuticals, Inc. (I) 1,165 17,428
Ampio Pharmaceuticals, Inc. (I)(L) 1,904 14,337
ANI Pharmaceuticals, Inc. (I)(L) 349 21,830
Apricus Biosciences, Inc. (I)(L) 3,553 6,644
Aratana Therapeutics, Inc. (I) 557 8,918
Assembly Biosciences, Inc. (I) 683 9,043
BioDelivery Sciences International, Inc. (I) 1,190 12,495
Bristol-Myers Squibb Company 38,765 2,500,343
Catalent, Inc. (I) 2,735 85,195
Cempra, Inc. (I) 1,116 38,290
Chelsea Therapeutics International, Ltd. (I)(L) 1,686 135
Columbia Laboratories, Inc. (I) 351 2,180
ContraVir Pharmaceuticals, Inc. (I) 246 740
Corcept Therapeutics, Inc. (I) 2,803   15,697
Cumberland Pharmaceuticals, Inc. (I) 672 4,476
Depomed, Inc. (I) 1,587 35,565
Durect Corp. (I) 2,824 5,394
Eli Lilly & Company 26,107 1,896,674
Endo International PLC (I) 2,949 264,525
Endocyte, Inc. (I) 899 5,628
Furiex Pharmaceuticals, Inc. (I) 242 1,970
Horizon Pharma, Inc. (I) 2,572 66,795
Hospira, Inc. (I) 3,963   348,110
IGI Laboratories, Inc. (I)(L) 1,342 10,951
Impax Laboratories, Inc. (I) 1,658 77,710
Imprimis Pharmaceuticals, Inc. (I) 779 6,209
Intersect ENT, Inc. (I) 636 16,428
Johnson & Johnson 65,967 6,636,280
Lannett Company, Inc. (I)(L) 902 61,074
Merck & Company, Inc. 67,440 3,876,451
Mylan NV (I) 8,734 518,363
Nektar Therapeutics (I) 3,002 33,022
Omeros Corp. (I)(L) 833 18,351
Pacira Pharmaceuticals, Inc. (I) 817 72,590
Pernix Therapeutics Holdings (I) 778 8,317
Pfizer, Inc. 148,253 5,157,722
Phibro Animal Health Corp., Class A 1,003 35,516
Prestige Brands Holdings, Inc. (I) 1,278 54,813
Relypsa, Inc. (I) 705 25,429
Repros Therapeutics, Inc. (I) 409 3,513
Revance Therapeutics, Inc. (I) 531 11,008
Sagent Pharmaceuticals, Inc. (I) 726 16,880
Salix Pharmaceuticals, Ltd. (I)(L) 1,485 256,623
SciClone Pharmaceuticals, Inc. (I) 1,414 12,528
Sucampo Pharmaceuticals, Inc., Class A (I)(L) 1,511 23,511
Supernus Pharmaceuticals, Inc. (I) 1,455 17,591
Tetraphase Pharmaceuticals, Inc. (I) 536 19,639
The Medicines Company (I) 1,542 43,207
TherapeuticsMD, Inc. (I) 2,858 17,291
Theravance, Inc. (L) 2,605 40,951
Trius Therapeutics, Inc. (I)(L) 1,243 137
VIVUS, Inc. (I) 2,325 5,720
XenoPort, Inc. (I) 1,347 9,591
Zoetis, Inc. 11,709 542,010
Zogenix, Inc. (I) 3,564 4,883
ZS Pharma, Inc. (I) 502 21,124
27,948,617
77,520,892
Industrials - 10.0%
Aerospace and defense - 2.4%
AAR Corp. 1,006 30,884
Aerovironment, Inc. (I) 570 15,111
American Science & Engineering, Inc. 220 10,749
API Technologies Corp. (I) 1,409 2,917
Astronics Corp. (I) 519 38,250
Astrotech Corp. (I) 2,372 7,353
B/E Aerospace, Inc. 2,435 154,915
CPI Aerostructures, Inc. (I) 277 3,379
Cubic Corp. 656 33,961
Curtiss-Wright Corp. 1,137 84,070
DigitalGlobe, Inc. (I) 1,782 60,713
Ducommun, Inc. (I) 443 11,474
Engility Holdings, Inc. 400 12,016
Esterline Technologies Corp. (I) 729 83,412
Exelis, Inc. 4,301 104,815
GenCorp, Inc. (I) 1,536 35,620
General Dynamics Corp. 7,819 1,061,273
HEICO Corp., Class A 1,395 69,108
Hexcel Corp. 2,201 113,175
Honeywell International, Inc. 18,324 1,911,376
Huntington Ingalls Industries, Inc. 1,114 156,127
Innovative Solutions & Support, Inc. (I) 1,956 7,433
KLX, Inc. (I) 1,217 46,903
Kratos Defense & Security Solutions, Inc. (I) 1,499 8,289
L-3 Communications Holdings, Inc. 1,996 251,077
LMI Aerospace, Inc. (I) 376 4,591
Lockheed Martin Corp. 7,413 1,504,542
Moog, Inc., Class A (I) 991 74,375
National Presto Industries, Inc. 167 10,586
Northrop Grumman Corp. 4,834 778,081
Orbital ATK, Inc. 1,419 108,738
Precision Castparts Corp. 3,359 705,390
Raytheon Company 7,243 791,298
Rockwell Collins, Inc. 3,124 301,622
Spirit Aerosystems Holdings, Inc., Class A (I) 3,306 172,606
TASER International, Inc. (I) 1,282 30,909
Teledyne Technologies, Inc. (I) 849 90,614
Textron, Inc. 6,522 289,120
The Boeing Company 16,870 2,531,850
The KEYW Holding Corp. (I) 815 6,707
TransDigm Group, Inc. 1,214 265,526
Triumph Group, Inc. 1,147 68,499
United Technologies Corp. 21,420 2,510,424
Vectrus, Inc. (I) 257 6,551
14,566,429
Air freight and logistics - 0.6%
Air T, Inc. (I) 419 10,303
Air Transport Services Group, Inc. (I) 1,747 16,107
Atlas Air Worldwide Holdings, Inc. (I) 649 27,920
C.H. Robinson Worldwide, Inc. 3,402 249,094
Echo Global Logistics, Inc. (I) 676 18,428
Expeditors International of Washington, Inc. 4,529 218,207
FedEx Corp. 6,624 1,095,941
Forward Air Corp. 714 38,770
Hub Group, Inc., Class A (I) 882 34,654
Park-Ohio Holdings Corp. 343 18,066
United Parcel Service, Inc., Class B 21,353 2,069,960
UTi Worldwide, Inc. (I) 2,522 31,021
XPO Logistics, Inc. (I) 1,533 69,706
3,898,177

The accompanying notes are an integral part of the financial statements. 285


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Total Stock Market Index Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Airlines - 0.6%
Alaska Air Group, Inc. 3,027 $ 200,327
Allegiant Travel Company 389 74,801
American Airlines Group, Inc. 16,786 885,965
Delta Air Lines, Inc. 19,619 882,070
Hawaiian Holdings, Inc. (I) 1,540 33,919
JetBlue Airways Corp. (I) 7,047 135,655
Republic Airways Holdings, Inc. (I) 1,141 15,689
SkyWest, Inc. 1,535 22,426
Southwest Airlines Company 15,917 705,123
Spirit Airlines, Inc. (I) 1,723 133,291
United Continental Holdings, Inc. (I) 8,801 591,867
3,681,133
Building products - 0.2%
AAON, Inc. 1,449 35,544
Advanced Drainage Systems, Inc. 1,269 37,994
American Woodmark Corp. (I) 470 25,723
AO Smith Corp. 2,086 136,967
Apogee Enterprises, Inc. 713 30,802
Armstrong World Industries, Inc. (I) 1,261 72,470
Builders FirstSource, Inc. (I) 2,899 19,336
Continental Building Products, Inc. (I) 1,218 27,515
Fortune Brands Home & Security, Inc. 3,706 175,961
Gibraltar Industries, Inc. (I) 947 15,540
Griffon Corp. 1,171 20,411
Insteel Industries, Inc. 563 12,178
Lennox International, Inc. 1,106   123,529
Masco Corp. 8,356 223,105
NCI Building Systems, Inc. (I) 1,785   30,845
Nortek, Inc. (I) 350 30,888
Owens Corning 2,675 116,095
Patrick Industries, Inc. (I) 368 22,915
PGT, Inc. (I) 1,305 14,583
Ply Gem Holdings, Inc. (I) 1,531 19,903
Quanex Building Products Corp. 980 19,345
Simpson Manufacturing Company, Inc. 1,094 40,883
Trex Company, Inc. (I) 844 46,023
Universal Forest Products, Inc. 563 31,235
USG Corp. (I) 3,452 92,168
1,421,958
Commercial services and supplies - 0.6%
ABM Industries, Inc. 1,288 41,036
ACCO Brands Corp. (I) 2,455 20,401
Acme United Corp. 308 5,624
ARC Document Solutions, Inc. (I) 1,558 14,380
Brady Corp., Class A 1,191 33,693
Casella Waste Systems, Inc., Class A (I) 1,234 6,787
Cintas Corp. 2,715 221,625
Civeo Corp. 2,666 6,772
Clean Harbors, Inc. (I) 1,368 77,675
Copart, Inc. (I) 2,964 111,357
Covanta Holding Corp. 3,037 68,120
Deluxe Corp. 1,123 77,801
Ennis, Inc. 718 10,138
Fuel Tech, Inc. (I) 793 2,482
G&K Services, Inc., Class A 454 32,929
Healthcare Services Group, Inc. 1,683 54,075
Herman Miller, Inc. 1,366 37,920
HNI Corp. 1,139 62,839
Hudson Technologies, Inc. (I) 1,078 4,495
InnerWorkings, Inc. (I) 1,940 13,037
Interface, Inc. 1,612 33,497
Intersections, Inc. (I)(L) 680 2,319
KAR Auction Services, Inc. 3,268 123,955
Kimball International, Inc., Class B 1,061 11,119
Knoll, Inc. 1,200 28,116
Matthews International Corp., Class A 747 38,478
McGrath RentCorp. 612 20,141
Metalico, Inc. (I) 1,349 499
Mobile Mini, Inc. 1,167 49,761
MSA Safety, Inc. 925 46,139
Multi-Color Corp. 421 29,188
NL Industries, Inc. (I) 1,224 9,486
Performant Financial Corp. (I) 960 3,264
Perma-fix Environmental Services (I) 1,398 5,396
Pitney Bowes, Inc. 4,588 106,992
Quad/Graphics, Inc. 1,184 27,208
R.R. Donnelley & Sons Company (L) 4,538 87,084
Republic Services, Inc. 8,166 331,213
Rollins, Inc. 5,152 127,409
SP Plus Corp. (I) 481 10,510
Steelcase, Inc., Class A 2,790 52,843
Stericycle, Inc. (I) 1,935 271,732
Swisher Hygiene, Inc. (I) 450 833
Team, Inc. (I) 452 17,619
Tetra Tech, Inc. 1,545 37,111
The ADT Corp. 4,111 170,689
The Brink’s Company 1,094 30,227
TRC Companies, Inc. (I) 1,168 9,718
UniFirst Corp. 475 55,903
United Stationers, Inc. 868 35,579
US Ecology, Inc. 556 27,783
Versar, Inc. (I) 1,039 3,252
Viad Corp. 689 19,168
Waste Connections, Inc. 2,813 135,418
Waste Management, Inc. 10,796 585,467
West Corp. 1,935 65,268
3,513,570
Construction and engineering - 0.2%
AECOM (I) 2,856 88,022
Aegion Corp. (I) 1,004 18,122
Ameresco, Inc., Class A (I) 1,114 8,244
Argan, Inc. 389 14,070
Comfort Systems USA, Inc. 940 19,778
Dycom Industries, Inc. (I) 863 42,149
EMCOR Group, Inc. 1,546 71,843
Fluor Corp. 3,684 210,577
Furmanite Corp. (I) 1,126 8,884
Granite Construction, Inc. 951 33,418
Great Lakes Dredge & Dock Corp. (I) 2,049 12,314
Jacobs Engineering Group, Inc. (I) 3,098 139,906
KBR, Inc. 3,233 46,814
Layne Christensen Company (I) 532 2,665
MasTec, Inc. (I) 2,008 38,754
MYR Group, Inc. (I) 561 17,582
Northwest Pipe Company (I) 392 8,996
Primoris Services Corp. 1,267 21,780
Quanta Services, Inc. (I) 5,027 143,420
Tutor Perini Corp. (I) 1,191 27,810
975,148
Electrical equipment - 0.6%
Active Power, Inc. (I) 864 1,892
Acuity Brands, Inc. 1,008 169,505
American Electric Technologies, Inc. (I) 709 2,985
American Superconductor Corp. (I) 124 800

The accompanying notes are an integral part of the financial statements. 286


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Total Stock Market Index Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Electrical equipment (continued)
AMETEK, Inc. 5,700 $ 299,478
AZZ, Inc. 669 31,169
Broadwind Energy, Inc. (I) 481 2,405
Eaton Corp. PLC 11,140 756,852
Emerson Electric Company 16,350 925,737
Encore Wire Corp. 509 19,281
EnerSys 1,078 69,251
Enphase Energy, Inc. (I) 1,270 16,751
Espey Manufacturing & Electronics Corp. 162 4,633
Franklin Electric Company, Inc. 1,168 44,548
FuelCell Energy, Inc. (I)(L) 8,334 10,418
General Cable Corp. 1,116 19,229
GrafTech International, Ltd. (I) 3,533 13,743
Hubbell, Inc., Class B 1,387 152,043
Ideal Power Inc (I) 763 7,226
Lighting Science Group Corp. (I) 3,647 802
Lime Energy Company (I) 158 574
Orbit International Corp. (I) 2,203 6,984
Plug Power, Inc. (I)(L) 4,666 12,085
Polypore International, Inc. (I) 1,089 64,142
Powell Industries, Inc. 356 12,022
Power Solutions International, Inc. (I) 259 16,651
Regal-Beloit Corp. 1,083 86,553
Revolution Lighting Technologies, Inc. (I)(L) 2,016   2,238
Rockwell Automation, Inc. 3,223 373,836
SolarCity Corp. (I)(L) 2,127   109,073
The Babcock & Wilcox Company 2,438 78,235
Thermon Group Holdings, Inc. (I) 996 23,974
Ultralife Corp. (I) 1,584 6,320
Vicor Corp. (I) 1,178 17,906
3,359,341
Industrial conglomerates - 1.7%
3M Company 15,161 2,500,807
Carlisle Companies, Inc. 1,466 135,796
Danaher Corp. 16,408 1,393,039
General Electric Company 234,727 5,823,577
Icahn Enterprises LP 2,570 230,426
Raven Industries, Inc. 906 18,537
Roper Industries, Inc. 2,343 402,996
10,505,178
Machinery - 1.6%
Actuant Corp., Class A 1,597 37,913
AGCO Corp. 2,163 103,045
Alamo Group, Inc. 398 25,126
Albany International Corp., Class A 756 30,051
Allison Transmission Holdings, Inc. 4,037 128,942
Altra Industrial Motion Corp. 757 20,923
American Railcar Industries, Inc. (L) 519 25,810
Art’s-Way Manufacturing Company, Inc. 912 4,305
Astec Industries, Inc. 567 24,313
Barnes Group, Inc. 1,329 53,811
Blount International, Inc. (I) 1,228 15,817
Briggs & Stratton Corp. 1,078 22,142
Caterpillar, Inc. 14,672 1,174,200
Chart Industries, Inc. (I) 708 24,833
CIRCOR International, Inc. 380 20,786
CLARCOR, Inc. 1,194 78,876
Colfax Corp. (I) 2,908 138,799
Columbus McKinnon Corp. 651 17,538
Crane Company 1,353 84,441
Cummins, Inc. 4,296 595,597
Deere & Company 8,331 730,545
Donaldson Company, Inc. 3,287 123,953
Douglas Dynamics, Inc. 619 14,138
Dover Corp. 3,874 267,771
Energy Recovery, Inc. (I) 1,363 3,530
EnPro Industries, Inc. 606 39,966
ESCO Technologies, Inc. 685 26,701
Federal Signal Corp. 1,496 23,622
Flowserve Corp. 3,173 179,243
FreightCar America, Inc. 399 12,541
Graco, Inc. 1,398 100,880
Graham Corp. 360 8,629
Harsco Corp. 2,023 34,917
Hillenbrand, Inc. 1,580 48,775
Hyster-Yale Materials Handling, Inc. 284 20,814
IDEX Corp. 1,846 139,982
Illinois Tool Works, Inc. 9,262 899,711
ITT Corp. 2,155 86,006
John Bean Technologies Corp. 744 26,576
Joy Global, Inc. 2,321 90,937
Kadant, Inc. 356 18,729
Kennametal, Inc. 1,834 61,787
Key Technology, Inc. (I) 551 7,020
LB Foster Company, Class A 274 13,010
Lincoln Electric Holdings, Inc. 1,854 121,233
Lindsay Corp. (L) 317 24,171
Lydall, Inc. (I) 557 17,668
Manitex International, Inc. (I) 420 4,087
Meritor, Inc. (I) 2,393 30,176
MFRI, Inc. (I) 583 3,644
Middleby Corp. (I) 1,377 141,349
Miller Industries, Inc. 647 15,852
Mueller Industries, Inc. 1,282 46,319
Mueller Water Products, Inc., Class A 4,056 39,952
Navistar International Corp. (I)(L) 1,939 57,201
NN, Inc. 585 14,672
Nordson Corp. 1,454 113,906
Oshkosh Corp. 1,945 94,897
PACCAR, Inc. 8,280 522,799
Pall Corp. 2,536 254,589
Parker Hannifin Corp. 3,457 410,622
Pentair PLC 4,491 282,439
PMFG, Inc. (I) 848 3,943
Proto Labs, Inc. (I) 634 44,380
RBC Bearings, Inc. 550 42,097
Rexnord Corp. (I) 2,474 66,031
Snap-on, Inc. 1,364 200,590
SPX Corp. 983 83,457
Standex International Corp. 291 23,900
Stanley Black & Decker, Inc. 3,638 346,920
Sun Hydraulics Corp. 689 28,497
Taylor Devices, Inc. (I) 502 6,044
Tecumseh Products Company (I) 535 1,514
Tennant Company 411 26,867
Terex Corp. 2,510 66,741
The ExOne Company (I) 298 4,068
The Gorman-Rupp Company 672 20,126
The Greenbrier Companies, Inc. (L) 617 35,786
The Manitowoc Company, Inc. 3,212 69,251
The Timken Company 2,111 88,958
The Toro Company 1,288 90,315
Titan International, Inc. 1,210 11,326
TriMas Corp. (I) 1,133 34,885
Trinity Industries, Inc. 3,600 127,836

The accompanying notes are an integral part of the financial statements. 287


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Total Stock Market Index Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Machinery (continued)
Valmont Industries, Inc. (L) 592 $ 72,745
Wabash National Corp. (I) 1,922 27,100
WABCO Holdings, Inc. (I) 1,374 168,837
Wabtec Corp. 2,220 210,922
Watts Water Technologies, Inc., Class A 857 47,161
Woodward, Inc. 1,547 78,912
Xylem, Inc. 4,271 149,570
9,981,406
Marine - 0.0%
Eagle Bulk Shipping Inc (I) 6 44
International Shipholding Corp. 390 4,723
Kirby Corp. (I) 1,313 98,541
Matson, Inc. 1,025 43,214
Rand Logistics, Inc. (I) 1,550 5,038
151,560
Professional services - 0.3%
Acacia Research Corp. 1,195 12,787
Barrett Business Services, Inc. 202 8,654
CBIZ, Inc. (I) 1,604 14,965
CDI Corp. 578 8,121
CRA International, Inc. (I) 497 15,467
Equifax, Inc. 2,853 265,329
Exponent, Inc. 289   25,692
FTI Consulting, Inc. (I) 921   34,501
Heidrick & Struggles International, Inc. 459 11,282
Huron Consulting Group, Inc. (I) 572 37,838
ICF International, Inc. (I) 571 23,325
IHS, Inc., Class A (I) 1,598 181,788
Insperity, Inc. 655 34,250
Kelly Services, Inc., Class A 880 15,347
Kforce, Inc. 800 17,848
Korn/Ferry International 1,149 37,768
ManpowerGroup, Inc. 1,845 158,947
Mastech Holdings, Inc. (I) 296 2,694
Mistras Group, Inc. (I) 687 13,232
Navigant Consulting, Inc. (I) 1,124 14,567
Odyssey Marine Exploration, Inc. (I)(L) 2,604 1,823
On Assignment, Inc. (I) 1,216 46,658
Paylocity Holding Corp. (I) 1,217 34,855
Pendrell Corp. (I) 8,578 11,151
Resources Connection, Inc. 976 17,080
Robert Half International, Inc. 3,205 193,967
RPX Corp. (I) 1,202 17,297
The Advisory Board Company (I) 886 47,206
The Corporate Executive Board Company 835 66,683
The Dun & Bradstreet Corp. 840 107,822
Towers Watson & Company, Class A 1,623 214,536
TriNet Group, Inc. (I) 1,518 53,479
TrueBlue, Inc. (I) 909 22,134
Verisk Analytics, Inc., Class A (I) 3,887 277,532
VSE Corp. 167 13,674
WageWorks, Inc. (I) 826 44,051
2,104,350
Road and rail - 0.9%
AMERCO 457 150,993
ArcBest Corp. 705 26,712
Avis Budget Group, Inc. (I) 2,420 142,816
Celadon Group, Inc. 717 19,517
Con-way, Inc. 1,280 56,486
CSX Corp. 23,305 771,862
Genesee & Wyoming, Inc., Class A (I) 1,227 118,332
Heartland Express, Inc. 2,013 47,829
Hertz Global Holdings, Inc. (I) 10,426 226,036
J.B. Hunt Transport Services, Inc. 2,678 228,688
Kansas City Southern 2,570 262,346
Knight Transportation, Inc. 1,874 60,437
Landstar System, Inc. 1,058 70,145
Marten Transport, Ltd. 864 20,045
Norfolk Southern Corp. 7,195 740,509
Old Dominion Freight Line, Inc. (I) 1,955 151,122
Patriot Transportation Holding, Inc. (I) 144 3,596
Providence and Worcester Railroad Company 560 10,125
Roadrunner Transportation Systems, Inc. (I) 1,015 25,649
Ryder Systems, Inc. 1,195 113,394
Saia, Inc. (I) 643 28,485
Swift Transportation Company (I) 3,346 87,063
Union Pacific Corp. 20,973 2,271,586
Universal Truckload Services, Inc. 735 18,507
Werner Enterprises, Inc. 1,617 50,790
YRC Worldwide, Inc. (I) 748 13,434
5,716,504
Trading companies and distributors - 0.3%
Air Lease Corp. 2,442 92,161
Aircastle, Ltd. 1,918 43,078
Applied Industrial Technologies, Inc. 1,031 46,746
Beacon Roofing Supply, Inc. (I) 1,131 35,400
CAI International, Inc. (I) 572 14,054
DXP Enterprises, Inc. (I) 367 16,181
Fastenal Company 6,943 287,683
GATX Corp. 1,014 58,792
H&E Equipment Services, Inc. 759 18,967
HD Supply Holdings, Inc. (I) 4,686 145,992
Kaman Corp. 670 28,428
MRC Global, Inc. (I) 2,326 27,563
MSC Industrial Direct Company, Inc., Class A 1,445 104,329
NOW, Inc. (I)(L) 2,550 55,182
Rush Enterprises, Inc., Class A (I) 968 26,484
Stock Building Supply Holdings, Inc. (I) 780 14,087
TAL International Group, Inc. (I) 812 33,073
Textainer Group Holdings, Ltd. (L) 1,298 38,927
Titan Machinery, Inc. (I) 544 7,262
United Rentals, Inc. (I) 2,261 206,113
Veritiv Corp. (I) 392 17,299
W.W. Grainger, Inc. 1,581 372,816
Watsco, Inc. 810 101,817
WESCO International, Inc. (I) 1,020 71,288
1,863,722
Transportation infrastructure - 0.0%
Macquarie Infrastructure Company LLC 1,507 124,011
Wesco Aircraft Holdings, Inc. (I) 2,341 35,864
159,875
61,898,351
Information technology - 17.7%
Communications equipment - 1.4%
ADTRAN, Inc. 1,439 26,866
Arista Networks, Inc. (I)(L) 1,477 104,173
ARRIS Group, Inc. (I) 3,419 98,792
Aruba Networks, Inc. (I) 2,538 62,156
Aviat Networks, Inc. (I) 1,974 2,349
Bel Fuse, Inc., Class B 373 7,098
Black Box Corp. 458 9,586
Brocade Communications Systems, Inc. 9,800 116,277

The accompanying notes are an integral part of the financial statements. 288


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Total Stock Market Index Trust (continued)

Shares or
Principal
Amount        Value
COMMON STOCKS (continued)
Communications equipment (continued)
CalAmp Corp. (I) 938 $ 15,186
Calix, Inc. (I) 1,421 11,922
Ciena Corp. (I) 2,566 49,549
Cisco Systems, Inc. 119,814 3,297,880
Commscope Holding Company, Inc. (I) 4,333 123,664
Communications Systems, Inc. 653 7,451
Comtech Telecommunications Corp. 434 12,564
EchoStar Corp., Class A (I) 2,166 112,026
Emcore Corp. (I) 763 4,151
Emulex Corp. (I) 2,134   17,008
Extreme Networks, Inc. (I) 2,022 6,390
F5 Networks, Inc. (I) 1,733 199,191
Finisar Corp. (I) 2,207 47,097
Harmonic, Inc. (I) 2,721 20,163
Harris Corp. 2,432 191,544
Infinera Corp. (I) 3,206 63,062
InterDigital, Inc. 948 48,102
Ixia (I) 1,783 21,628
JDS Uniphase Corp. (I) 5,415 71,045
Juniper Networks, Inc. 10,572 238,716
Lantronix, Inc. (I) 2,979 5,392
Meru Networks, Inc. (I) 433 624
Motorola Solutions, Inc. 5,871 391,420
NETGEAR, Inc. (I) 889 29,230
Novatel Wireless, Inc. (I) 1,074 5,177
Optical Cable Corp. 1,147 4,508
Palo Alto Networks, Inc. (I) 1,825 266,596
ParkerVision, Inc. (I)(L) 2,235   1,855
Plantronics, Inc. 989 52,368
Polycom, Inc. (I) 3,382 45,319
Powerwave Technologies, Inc. (I) 912 1
Procera Networks, Inc. (I) 608 5,709
QUALCOMM, Inc. 39,238 2,720,763
Riverbed Technology, Inc. (I) 3,772 78,873
Ruckus Wireless, Inc. (I) 1,798 23,140
ShoreTel, Inc. (I) 2,189 14,929
Sonus Networks, Inc. (I) 1,059 8,345
Sycamore Networks, Inc. (I) 15,711 5,970
Ubiquiti Networks, Inc. (L) 2,142 63,296
ViaSat, Inc. (I) 1,087 64,796
8,773,947
Electronic equipment, instruments and components - 0.6%
ADDvantage Technologies Group, Inc. (I) 2,280 5,381
Amphenol Corp., Class A 7,342 432,664
Anixter International, Inc. (I) 773 58,848
Arrow Electronics, Inc. (I) 2,244 137,221
Avnet, Inc. 3,210 142,845
AVX Corp. 4,025 57,437
Badger Meter, Inc. 435 26,074
Belden, Inc. 1,053 98,519
Benchmark Electronics, Inc. (I) 1,151 27,659
CDW Corp. 4,060 151,194
Checkpoint Systems, Inc. 1,010 10,928
Cognex Corp. (I) 2,013 99,825
Coherent, Inc. (I) 623 40,470
Control4 Corp. (I) 676 8,098
Corning, Inc. 30,209 685,140
CTS Corp. 903 16,245
Daktronics, Inc. 1,118 12,086
Dolby Laboratories, Inc., Class A 2,347 89,562
DTS, Inc. (I) 507 17,273
Echelon Corp. (I) 1,218 1,157
Electro Rent Corp. 657 7,450
eMagin Corp. (I) 820 2,001
FARO Technologies, Inc. (I) 470 29,201
FEI Company 1,012 77,256
FLIR Systems, Inc. 3,254 101,785
Identive Group, Inc. (I) 182 1,562
II-VI, Inc. (I) 1,532 28,281
Ingram Micro, Inc., Class A (I) 3,568 89,628
Insight Enterprises, Inc. (I) 950 27,094
InvenSense, Inc. (I)(L) 1,972 29,994
IPG Photonics Corp. (I)(L) 1,210 112,167
Iteris, Inc. (I) 3,257 5,928
Itron, Inc. (I) 903 32,969
Jabil Circuit, Inc. 4,709 110,096
Key Tronic Corp. (I) 590 6,348
Keysight Technologies, Inc. (I) 3,886 144,365
Kimball Electronics, Inc. (I) 795 11,241
Knowles Corp. (I)(L) 2,037 39,253
Littelfuse, Inc. 562 55,857
Mercury Systems, Inc. (I) 1,173 18,240
Methode Electronics, Inc. 886 41,677
MTS Systems Corp. 336 25,418
NAPCO Security Technologies, Inc. (I) 1,447 8,378
National Instruments Corp. 3,022 96,825
Netlist, Inc. (I) 5,918 3,432
Newport Corp. (I) 1,042 19,861
OSI Systems, Inc. (I) 477 35,422
PAR Technology Corp. (I) 1,225 5,133
Park Electrochemical Corp. 597 12,871
PC Connection, Inc. 675 17,611
PCM, Inc. (I) 734 6,856
Plexus Corp. (I) 830 33,839
Pulse Electronics Corp. (I) 137 215
Radisys Corp. (I) 794 1,707
RealD, Inc. (I) 1,198 15,322
Rofin-Sinar Technologies, Inc. (I) 720 17,446
Rogers Corp. (I) 481 39,543
Sanmina Corp. (I) 2,020 48,864
ScanSource, Inc. (I) 664 26,992
Sutron Corp. (I) 1,023 5,187
SYNNEX Corp. 897 69,293
Tech Data Corp. (I) 895 51,704
Trimble Navigation, Ltd. (I) 5,996 151,099
TTM Technologies, Inc. (I) 1,990 17,930
Universal Display Corp. (I)(L) 1,115 52,126
Viasystems Group, Inc. (I) 571 9,987
Vishay Intertechnology, Inc. 3,586 49,559
Zebra Technologies Corp., Class A (I) 1,187 107,679
4,021,318
Internet software and services - 3.4%
Actua Corp. (I) 972 15,056
Akamai Technologies, Inc. (I) 4,135 293,771
Amber Road, Inc. (I) 734 6,790
Angie’s List, Inc. (I) 1,342 7,878
AOL, Inc. (I) 1,892 74,942
Bankrate, Inc. (I) 2,362 26,785
Bazaarvoice, Inc. (I)(L) 1,789 10,108
Benefitfocus, Inc. (I)(L) 572 21,044
Blucora, Inc. (I) 902 12,321
Borderfree, Inc. (I) 939 5,643
Brightcove, Inc. (I) 656 4,808
BroadVision, Inc. (I) 124 749
Carbonite, Inc. (I) 665 9,510

The accompanying notes are an integral part of the financial statements. 289


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (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)
Care.com, Inc. (I) 1,124 $ 8,520
ChannelAdvisor Corp. (I) 371 3,595
comScore, Inc. (I) 826 42,291
Constant Contact, Inc. (I) 660 25,219
Cornerstone OnDemand, Inc. (I) 1,341 38,741
CoStar Group, Inc. (I) 763 150,944
Coupons.com, Inc. (I)(L) 1,821 21,379
Cvent, Inc. (I)(L) 1,002 28,096
Dealertrack Technologies, Inc. (I) 1,278 49,229
Demand Media, Inc. (I) 359 2,053
Demandware, Inc. (I) 849 51,704
Dice Holdings, Inc. (I) 1,548 13,808
eBay, Inc. (I) 29,042 1,675,143
Endurance International
       Group Holdings, Inc. (I)(L) 3,078 58,667
Envestnet, Inc. (I) 867 48,621
Equinix, Inc. 1,274 296,651
Everyday Health, Inc. (I) 874 11,240
Facebook, Inc., Class A (I) 60,789 4,997,768
Gogo, Inc. (I)(L) 2,099 40,007
Google, Inc., Class C (I) 15,812 8,664,976
GrubHub, Inc. (I) 1,902 86,332
HomeAway, Inc. (I) 2,236 67,460
InterActiveCorp 1,943 131,094
Internap Corp. (I) 1,629 16,665
IntraLinks Holdings, Inc. (I) 1,586     16,399
Ipass, Inc. (I) 3,427 3,633
j2 Global, Inc. 1,122 73,693
LinkedIn Corp., Class A (I) 2,874 718,098
Liquidity Services, Inc. (I) 719 7,104
LivePerson, Inc. (I) 1,346 13,776
LogMeIn, Inc. (I) 564 31,578
Marchex, Inc., Class B 1,000 4,080
Marketo, Inc. (I) 865 22,161
Millennial Media, Inc. (I)(L) 2,668 3,869
Monster Worldwide, Inc. (I) 2,708 17,169
NIC, Inc. 1,581 27,936
OPOWER, Inc. (I)(L) 1,047 10,606
Pandora Media, Inc. (I) 4,725 76,592
Perficient, Inc. (I) 1,062 21,973
Q2 Holdings, Inc. (I) 934 19,745
QuinStreet, Inc. (I) 930 5,534
Rackspace Hosting, Inc. (I) 3,378 174,271
RetailMeNot, Inc. (I) 1,273 22,927
Rightside Group, Ltd. (I) 359 3,644
Rocket Fuel, Inc. (I)(L) 829 7,627
SciQuest, Inc. (I) 622 10,530
Shutterstock, Inc. (I) 755 51,846
SPS Commerce, Inc. (I) 348 23,351
Stamps.com, Inc. (I) 343 23,080
support.com, Inc. (I) 1,791 2,794
Synacor, Inc. (I) 3,046 6,914
TechTarget, Inc. (I) 764 8,809
Textura Corp. (I)(L) 513 13,943
TheStreet, Inc. 2,512 4,522
Tremor Video, Inc. (I) 2,362 5,527
TrueCar, Inc. (I)(L) 1,810 32,309
Twitter, Inc. (I) 14,400 721,152
United Online, Inc. (I) 328 5,225
Unwired Planet, Inc. (I) 5,730 3,276
VeriSign, Inc. (I) 2,913 195,084
Web.com Group, Inc. (I) 1,291 24,464
WebMD Health Corp. (I) 946 41,468
Xoom Corp. (I) 734 10,782
Yahoo!, Inc. (I) 23,268 1,033,914
Yelp, Inc. (I) 1,686 79,832
Zillow Group, Inc., Class A (I)(L) 1,284 128,785
20,729,630
IT services - 3.0%
Acxiom Corp. (I) 1,763 32,598
Alliance Data Systems Corp. (I) 1,401 415,046
Automatic Data Processing, Inc. 11,255 963,878
Blackhawk Network Holdings, Inc. (I)(L) 1,025 36,664
Booz Allen Hamilton Holding Corp. 3,622 104,821
Broadridge Financial Solutions, Inc. 2,747 151,112
CACI International, Inc., Class A (I) 532 47,837
Cardtronics, Inc. (I) 1,085 40,796
Cass Information Systems, Inc. 337 18,919
Cognizant Technology
       Solutions Corp., Class A (I) 14,246 888,808
Computer Sciences Corp. 3,390 221,299
Convergys Corp. 2,403 54,957
CoreLogic, Inc. (I) 2,116 74,631
CSG Systems International, Inc. 918 27,898
DST Systems, Inc. 909 100,635
EPAM Systems, Inc. (I) 1,164 71,342
Euronet Worldwide, Inc. (I) 1,283 75,376
ExlService Holdings, Inc. (I) 766 28,495
Fidelity National Information Services, Inc. 6,637 451,714
Fiserv, Inc. (I) 5,796 460,202
FleetCor Technologies, Inc. (I) 1,966 296,709
Forrester Research, Inc. 430 15,815
Gartner, Inc. (I) 2,066 173,234
Genpact, Ltd. (I) 4,990 116,018
Global Cash Access Holdings, Inc. (I) 2,025 15,431
Global Payments, Inc. 1,558 142,837
Heartland Payment Systems, Inc. 844 39,541
Higher One Holdings, Inc. (I) 1,420 3,436
IBM Corp. 23,312 3,741,576
iGATE Corp. (I) 1,475 62,924
Innodata, Inc. (I) 808 2,133
Jack Henry & Associates, Inc. 1,912 133,630
Leidos Holdings, Inc. 1,814 76,115
Lionbridge Technologies, Inc. (I) 1,904 10,891
ManTech International Corp., Class A 903 30,648
MasterCard, Inc., Class A 27,090 2,340,305
MAXIMUS, Inc. 1,529 102,076
MoneyGram International, Inc. (I) 1,413 12,208
NCI, Inc., Class A 381 3,818
NeuStar, Inc., Class A (I)(L) 1,360 33,483
Paychex, Inc. 8,475 420,487
Sabre Corp. 6,115 148,595
Science Applications International Corp. 1,136 58,334
ServiceSource International, Inc. (I) 1,729 5,360
Sykes Enterprises, Inc. (I) 996 24,751
Syntel, Inc. (I) 2,000 103,460
TeleTech Holdings, Inc. 1,287 32,754
Teradata Corp. (I) 3,634 160,405
The Western Union Company 12,297 255,901
Total System Services, Inc. 4,307 164,312
Unisys Corp. (I) 1,335 30,985
Vantiv, Inc., Class A (I) 4,406 166,106
VeriFone Systems, Inc. (I) 2,675 93,331
Virtusa Corp. (I) 733 30,332
Visa, Inc., Class A 71,588 4,682,571
WEX, Inc. (I) 916 98,342

The accompanying notes are an integral part of the financial statements. 290


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Total Stock Market Index Trust (continued)

Shares or
Principal
Amount         Value
COMMON STOCKS (continued)
IT services (continued)
Xerox Corp. 26,909 $ 345,781
18,441,663
Semiconductors and semiconductor equipment - 2.1%
Advanced Energy Industries, Inc. (I) 919 23,582
Advanced Micro Devices, Inc. (I)(L) 17,816 47,747
Altera Corp. 7,319 314,058
Ambarella, Inc. (I) 697 52,770
Amkor Technology, Inc. (I) 5,636 49,794
Analog Devices, Inc. 7,343 462,609
Applied Materials, Inc. 28,506 643,095
Applied Micro Circuits Corp. (I) 1,860 9,486
Atmel Corp. 9,935 81,765
Audience, Inc. (I) 1,203 5,462
AXT, Inc. (I) 3,028 8,145
Broadcom Corp., Class A 12,807 554,479
Brooks Automation, Inc. 1,693 19,690
Cabot Microelectronics Corp. (I) 546 27,284
Cavium, Inc. (I) 1,306 92,491
Cirrus Logic, Inc. (I) 1,542 51,287
Cohu, Inc. 836 9,146
Cree, Inc. (I)(L) 2,730 96,888
Cypress Semiconductor Corp. (I) 7,100 100,181
Diodes, Inc. (I) 1,139 32,530
Entegris, Inc. (I) 3,313 45,355
Exar Corp. (I) 1,365 13,718
Fairchild Semiconductor International, Inc. (I) 3,070 55,813
First Solar, Inc. (I) 2,345 140,208
FormFactor, Inc. (I) 1,372 12,170
Freescale Semiconductor, Ltd. (I) 6,964 283,853
GSI Technology, Inc. (I) 900 5,310
GT Advanced Technologies, Inc. (I)(L) 3,563 1,195
Inphi Corp. (I) 1,167 20,808
Integrated Device Technology, Inc. (I) 3,718 74,434
Integrated Silicon Solution, Inc. 890 15,922
Intel Corp. 115,818 3,621,629
Intermolecular, Inc. (I) 1,145 1,878
Intersil Corp., Class A 3,066 43,905
inTEST Corp. (I) 1,205 4,928
IXYS Corp. 1,399 17,236
KLA-Tencor Corp. 3,832 223,367
Kulicke & Soffa Industries, Inc. (I) 1,781 27,837
Lam Research Corp. 3,804 267,174
Lattice Semiconductor Corp. (I) 2,974 18,855
Linear Technology Corp. 5,513 258,008
M/A-COM Technology
       Solutions Holdings, Inc. (I) 1,159 43,184
Marvell Technology Group, Ltd. 11,656 171,343
Mattson Technology, Inc. (I) 1,856 7,313
Maxim Integrated Products, Inc. 6,649 231,452
Micrel, Inc. 1,723 25,983
Microchip Technology, Inc. 4,639 226,847
Micron Technology, Inc. (I) 25,071 680,176
Microsemi Corp. (I) 2,319 82,093
MKS Instruments, Inc. 1,286 43,480
Monolithic Power Systems, Inc. 895 47,122
Nanometrics, Inc. (I) 623 10,479
NVE Corp. 175 12,061
NVIDIA Corp. 12,791 267,652
OmniVision Technologies, Inc. (I) 1,411 37,208
ON Semiconductor Corp. (I) 10,601 128,378
PDF Solutions, Inc. (I) 882 15,805
Photronics, Inc. (I) 1,479 12,572
PMC-Sierra, Inc. (I) 5,216 48,404
Power Integrations, Inc. 714 37,185
Qorvo, Inc. (I) 3,358 267,633
Rambus, Inc. (I) 2,670 33,575
Semtech Corp. (I) 1,537 40,953
Silicon Laboratories, Inc. (I) 1,002 50,872
Skyworks Solutions, Inc. 4,403 432,771
STR Holdings, Inc. 406 581
SunEdison Semiconductor, Ltd. (I) 710 18,332
SunEdison, Inc. (I)(L) 6,346 152,304
SunPower Corp. (I)(L) 2,994 93,742
Synaptics, Inc. (I) 852 69,272
Teradyne, Inc. 4,929 92,912
Tessera Technologies, Inc. 1,327 53,452
Texas Instruments, Inc. 25,084 1,434,429
Transwitch Corp. (I) 1,304 2
Ultratech, Inc. (I) 647 11,219
Veeco Instruments, Inc. (I) 1,054 32,200
Xcerra Corp. (I) 1,415 12,579
Xilinx, Inc. 6,266 265,052
13,026,709
Software - 3.7%
ACI Worldwide, Inc. (I) 2,613 56,598
Activision Blizzard, Inc. 16,759 380,848
Adobe Systems, Inc. (I) 11,631 859,996
Advent Software, Inc. 1,148 50,638
American Software, Inc., Class A 1,532 15,657
ANSYS, Inc. (I) 2,116 186,610
Aspen Technology, Inc. (I) 2,076 79,905
Autodesk, Inc. (I) 5,343 313,314
Blackbaud, Inc. 1,047 49,607
Bottomline Technologies, Inc. (I) 911 24,934
BroadSoft, Inc. (I) 685 22,920
CA, Inc. 10,303 335,981
Cadence Design Systems, Inc. (I) 6,903 127,291
Callidus Software, Inc. (I) 1,069 13,555
Citrix Systems, Inc. (I) 3,843 245,452
CommVault Systems, Inc. (I) 1,078 47,109
Comverse, Inc. (I) 666 13,120
Covisint Corp. (I) 734 1,490
Cyan, Inc. (I) 1,096 4,373
Document Security Systems, Inc. (I) 1,772 638
Ebix, Inc. 840 25,519
Electronic Arts, Inc. (I) 7,374 433,702
Ellie Mae, Inc. (I) 692 38,275
EnerNOC, Inc. (I) 701 7,991
Epiq Systems, Inc. 1,028 18,432
ePlus, Inc. (I) 259 22,515
FactSet Research Systems, Inc. 962 153,150
Fair Isaac Corp. 763 67,693
FalconStor Software, Inc. (I) 1,749 2,711
FireEye, Inc. (I)(L) 3,511 137,807
Fleetmatics Group PLC (I) 779 34,938
Fortinet, Inc. (I) 3,889 135,921
Gigamon, Inc. (I) 777 16,503
Glu Mobile, Inc. (I)(L) 2,758 13,818
Guidewire Software, Inc. (I) 1,611 84,755
Imperva, Inc. (I) 657 28,054
Infoblox, Inc. (I) 1,217   29,050
Informatica Corp. (I) 2,520 110,515
Interactive Intelligence Group, Inc. (I) 490 20,178
Intuit, Inc. 6,613   641,196
Jive Software, Inc. (I) 1,690 8,670
Kofax Ltd. (I)(L) 2,350 25,733

The accompanying notes are an integral part of the financial statements. 291


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Total Stock Market Index Trust (continued)

Shares or
Principal
      Amount       Value
COMMON STOCKS (continued)    
Software (continued)    
Majesco Entertainment Company (I) 212 $ 229
Manhattan Associates, Inc. (I) 1,836   92,920
Mentor Graphics Corp. 2,655   63,800
Microsoft Corp. 192,666   7,832,836
MicroStrategy, Inc., Class A (I) 263   44,497
Mitek Systems, Inc. (I)(L) 1,254   3,963
Mobileiron, Inc. (I) 1,929   17,863
Model N, Inc. (I) 495   5,920
Monotype Imaging Holdings, Inc. 833   27,189
NetScout Systems, Inc. (I)(L) 949   41,614
NetSuite, Inc. (I) 1,775   164,649
Nuance Communications, Inc. (I) 7,373   105,803
Oracle Corp. 104,155   4,494,288
Paycom Software, Inc. (I) 1,257   40,299
Pegasystems, Inc. 1,800   39,150
Progress Software Corp. (I) 1,317   35,783
Proofpoint, Inc. (I) 933   55,252
PROS Holdings, Inc. (I) 740   18,285
PTC, Inc. (I) 2,805   101,457
Qlik Technologies, Inc. (I) 1,999   62,229
Qualys, Inc. (I) 717   33,326
Rally Software Development Corp. (I) 544   8,535
RealPage, Inc. (I) 1,749   35,225
Red Hat, Inc. (I) 4,412   334,209
Rosetta Stone, Inc. (I) 599   4,558
Rovi Corp. (I) 2,223   40,481
Salesforce.com, Inc. (I) 14,487   967,876
ServiceNow, Inc. (I) 3,453   272,027
Silver Spring Networks, Inc. (I)(L) 1,081   9,664
Smith Micro Software, Inc. (I) 1,763   2,257
SolarWinds, Inc. (I) 1,752   89,772
Solera Holdings, Inc. 1,572   81,210
Splunk, Inc. (I) 2,758   163,274
SS&C Technologies Holdings, Inc. 1,908   118,868
Symantec Corp. 16,133   376,948
Synchronoss Technologies, Inc. (I) 1,046   49,643
Synopsys, Inc. (I) 3,607   167,076
Tableau Software, Inc., Class A (I) 1,641   151,825
Take-Two Interactive Software, Inc. (I) 2,001   50,935
Tangoe, Inc. (I) 807   11,137
TeleCommunication Systems, Inc., Class A (I) 1,207   4,623
The Rubicon Project, Inc. (I) 1,007   18,045
The Ultimate Software Group, Inc. (I) 671   114,040
THQ, Inc. (I) 234   5
TiVo, Inc. (I) 2,924   31,024
TubeMogul, Inc. (I)(L) 804   11,111
Tyler Technologies, Inc. (I) 761   91,723
Varonis Systems, Inc. (I) 654   16,782
VASCO Data Security International, Inc. (I)(L) 1,062   22,875
Verint Systems, Inc. (I) 1,403   86,888
VirnetX Holding Corp. (I) 1,232   7,503
VMware, Inc., Class A (I) 10,043   823,626
Wave Systems Corp., Class A (I) 4,572   3,155
Workday, Inc., Class A (I) 4,356   367,690
Zendesk, Inc. (I) 1,565   35,510
Zix Corp. (I) 2,372   9,322
Zynga, Inc., Class A (I) 21,526   61,349
  22,809,305
Technology hardware, storage and peripherals - 3.5%      
3D Systems Corp. (I)(L) 2,618   71,786
Apple, Inc. 139,975   17,417,089
Astro-Med, Inc. 483   6,757
Avid Technology, Inc. (I) 1,037   15,451
Cray, Inc. (I) 1,015   28,501
Diebold, Inc. 1,534   54,396
Electronics For Imaging, Inc. (I) 1,141   47,637
EMC Corp. 47,423   1,212,132
Hewlett-Packard Company 43,744   1,363,063
Imation Corp. (I) 1,203   4,848
Lexmark International, Inc., Class A 1,463   61,943
NCR Corp. (I) 3,948   116,505
NetApp, Inc. 7,469   264,851
Nimble Storage, Inc. (I)(L) 1,667   37,191
OCZ Technology Group, Inc. (I) 1,924   0
QLogic Corp. (I) 2,269   33,445
Qumu Corp. (I) 348   4,663
SanDisk Corp. 5,239   333,305
Super Micro Computer, Inc. (I) 1,005   33,376
Transact Technologies, Inc. 494   2,920
Video Display Corp. (I) 1,821   4,334
Violin Memory, Inc. (I) 2,563   9,663
Western Digital Corp. 5,459   496,824
  21,620,680
  109,423,252
Materials - 3.2%    
Chemicals - 2.1%    
A. Schulman, Inc. 713   34,367
Advanced Emissions Solutions, Inc. (I) 737   12,603
Air Products & Chemicals, Inc. 4,980   753,374
Airgas, Inc. 1,712   181,660
Albemarle Corp. 2,626   138,758
American Vanguard Corp. 743   7,891
Ashland, Inc. 1,799   229,031
Axiall Corp. 1,627   76,371
Balchem Corp. 725   40,151
Cabot Corp. 1,475   66,375
Calgon Carbon Corp. 1,150   24,231
Celanese Corp., Series A 3,606   201,431
CF Industries Holdings, Inc. 1,157   328,218
Chase Corp. 349   15,262
Chemtura Corp. (I) 2,142   58,455
Codexis, Inc. (I) 682   3,110
Cytec Industries, Inc. 1,732   93,597
E.I. du Pont de Nemours & Company 21,412   1,530,316
Eastman Chemical Company 3,462   239,778
Ecolab, Inc. 7,006   801,346
Ferro Corp. (I) 2,227   27,949
Flotek Industries, Inc. (I) 1,385   20,415
FMC Corp. 3,111   178,105
FutureFuel Corp. 1,202   12,345
Hawkins, Inc. 312   11,853
HB Fuller Company 1,198   51,358
Huntsman Corp. 5,713   126,657
Innophos Holdings, Inc. 533   30,040
Innospec, Inc. 621   28,808
International Flavors & Fragrances, Inc. 1,873   219,890
Intrepid Potash, Inc. (I) 1,827   21,102
Koppers Holdings, Inc. 493   9,702
Kraton Performance Polymers, Inc. (I) 778   15,723
Kronos Worldwide, Inc. 2,710   34,282
LSB Industries, Inc. (I) 541   22,360
Metabolix, Inc. (I) 824   511
Minerals Technologies, Inc. 820   59,942
Monsanto Company 12,277   1,381,654
NewMarket Corp. 292   139,518

The accompanying notes are an integral part of the financial statements. 292


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Total Stock Market Index Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)      
Chemicals (continued)
Northern Technologies International Corp. (I) 322 $ 6,153
OCI Partners LP 2,042 32,999
OCI Resources LP 700 15,820
Olin Corp. 1,916 61,389
OM Group, Inc. 761 22,853
PolyOne Corp. 2,180 81,423
PPG Industries, Inc. 3,215 725,111
Praxair, Inc. 6,824 823,930
Prospect Global Resources, Inc. (I) 53 5
Quaker Chemical Corp. 343 29,375
Rayonier Advanced Materials, Inc. 994 14,811
Rentech Nitrogen Partners LP 1,086 16,355
Rentech, Inc. (I) 4,415 4,945
RPM International, Inc. 3,162 151,744
Senomyx, Inc. (I) 1,262 5,565
Sensient Technologies Corp. 1,135 78,179
Sigma-Aldrich Corp. 2,786 385,165
Stepan Company 506 21,080
Terra Nitrogen Company LP 422 61,490
The Dow Chemical Company 27,945 1,340,801
The Mosaic Company 8,770 403,946
The Scotts Miracle-Gro Company, Class A 1,434 96,322
The Sherwin-Williams Company 2,273 646,669
The Valspar Corp. 1,889 158,733
Trecora Resources (I) 686 8,369
Tredegar Corp. 888 17,858
Trinseo SA (I)(L) 1,169 23,146
Valhi, Inc. 7,686 47,884
W.R. Grace & Company (I) 1,748 172,825
Westlake Chemical Corp. 3,120 224,453
Westlake Chemical Partners LP 703 18,854
Zep, Inc. 993 16,911
12,943,702
Construction materials - 0.1%
Eagle Materials, Inc. 1,200 100,272
Headwaters, Inc. (I) 1,678 30,775
Martin Marietta Materials, Inc. 1,562 218,368
U.S. Concrete, Inc. (I) 471 15,957
United States Lime & Minerals, Inc. 212 13,674
Vulcan Materials Company 3,033 255,682
634,728
Containers and packaging - 0.3%
AptarGroup, Inc. 1,465 93,057
Avery Dennison Corp. 2,194 116,085
Ball Corp. 3,161 223,293
Bemis Company, Inc. 2,253 104,336
Berry Plastics Group, Inc. (I) 2,678 96,917
Crown Holdings, Inc. (I) 3,205 173,134
Graphic Packaging Holding Company 7,519 109,326
Greif, Inc., Class A 1,126 44,218
MeadWestvaco Corp. 3,895 194,244
Myers Industries, Inc. 984 17,250
Owens-Illinois, Inc. (I) 3,716 86,657
Packaging Corp. of America 2,212 172,956
Rock-Tenn Company, Class A 3,302 212,979
Sealed Air Corp. 4,965 226,205
Silgan Holdings, Inc. 1,489 86,556
Sonoco Products Company 2,324 105,649
2,062,862
Metals and mining - 0.5%
AK Steel Holding Corp. (I)(L) 4,143 18,519
Alcoa, Inc. 27,601 356,605
Allegheny Technologies, Inc. 2,513 75,415
Allied Nevada Gold Corp. (I) 1,954 215
AM Castle & Company (I) 676 2,467
Carpenter Technology Corp. 1,236 48,056
Century Aluminum Company (I) 2,202 30,388
Cliffs Natural Resources, Inc. (L) 3,602 17,326
Coeur Mining, Inc. (I) 2,424 11,417
Commercial Metals Company 2,880 46,627
Compass Minerals International, Inc. 779 72,611
Freeport-McMoRan, Inc. 24,414 462,645
General Moly, Inc. (I) 2,672 1,363
Globe Specialty Metals, Inc. 1,837 34,756
Golden Minerals Company (I) 848 347
Handy & Harman, Ltd. (I) 386 15,849
Haynes International, Inc. 336 14,989
Hecla Mining Company 7,298 21,748
Hi-Crush Partners LP 646 22,655
Horsehead Holding Corp. (I) 1,401 17,737
Kaiser Aluminum Corp. 411 31,602
Materion Corp. 519 19,945
Midway Gold Corp. (I) 3,078 985
Molycorp, Inc. (I)(L) 6,266 2,414
Newmont Mining Corp. 11,494 249,535
Noranda Aluminum Holding Corp. 1,665 4,945
Nucor Corp. 7,450 354,099
Paramount Gold and Silver Corp. (I)(L) 4,437 4,481
Reliance Steel & Aluminum Company 1,791 109,394
Royal Gold, Inc. 1,516 95,675
RTI International Metals, Inc. (I) 816 29,303
Ryerson Holding Corp. (I) 815 5,192
Schnitzer Steel Industries, Inc., Class A 687 10,896
Solitario Exploration & Royalty Corp. (I) 2,030 1,523
Southern Copper Corp. (L) 19,509 569,273
Steel Dynamics, Inc. 5,615 112,862
Stillwater Mining Company (I) 2,775 35,853
SunCoke Energy Partners LP 506 10,773
SunCoke Energy, Inc. 1,547 23,112
Tahoe Resources, Inc. 3,348 36,694
TimkenSteel Corp. 1,013 26,814
United States Steel Corp. (L) 3,397 82,887
US Antimony Corp. (I) 2,052 1,395
Vista Gold Corp. (I) 3,085 926
Walter Energy, Inc. 1,471 912
Worthington Industries, Inc. 1,600 42,576
3,135,801
Paper and forest products - 0.2%
Boise Cascade Company (I) 927 34,725
Clearwater Paper Corp. (I) 471 30,756
Deltic Timber Corp. 331 21,929
International Paper Company 9,914 550,128
KapStone Paper and Packaging Corp. 2,181 71,624
Louisiana-Pacific Corp. (I) 3,252 53,691
Neenah Paper, Inc. 450 28,143
PH Glatfelter Company 1,142 31,439
Schweitzer-Mauduit International, Inc. 763 35,190
Verso Paper Corp. (I) 1,827 3,289
Wausau Paper Corp. 1,441 13,733
874,647
19,651,740

The accompanying notes are an integral part of the financial statements. 293


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Total Stock Market Index Trust (continued)

Shares or
Principal
        Amount       Value
COMMON STOCKS (continued)
Telecommunication services - 1.9%
Diversified telecommunication services - 1.6%
8x8, Inc. (I) 2,375 $ 19,950
Alaska Communications
       Systems Group, Inc. (I) 1,419 2,384
Alteva (I) 733 5,307
AT&T, Inc. 121,127 3,954,797
Atlantic Tele-Network, Inc. 401 27,757
CenturyLink, Inc. 13,241 457,477
Cincinnati Bell, Inc. (I) 4,894 17,276
Cogent Communications Group, Inc. 1,163 41,089
Consolidated Communications Holdings, Inc. 1,056 21,542
FairPoint Communications, Inc. (I)(L) 1,044 18,374
Frontier Communications Corp. 22,917 161,565
General Communication, Inc., Class A (I) 1,440 22,694
Globalstar, Inc. (I)(L) 19,684 65,548
IDT Corp., Class B 966 17,147
inContact, Inc. (I) 2,051 22,356
Inteliquent, Inc. 876 13,788
Iridium Communications, Inc. (I)(L) 1,659 16,109
Level 3 Communications, Inc. (I) 7,740 416,722
Lumos Networks Corp. 555 8,469
ORBCOMM, Inc. (I) 2,257 13,474
Premiere Global Services, Inc. (I) 1,491 14,254
Straight Path
       Communications, Inc., Class B (I) 302 6,016
Towerstream Corp. (I) 2,254 4,869
Verizon Communications, Inc. 96,833 4,708,989
Vonage Holdings Corp. (I) 4,929 24,201
Windstream Holdings, Inc. (L) 13,879 102,705
10,184,859
Wireless telecommunication services - 0.3%
Leap Wireless International, Inc. (I) 2,036 5,131
NII Holdings, Inc. (I) 4,011 174
RingCentral, Inc., Class A (I) 1,728 26,490
SBA Communications Corp., Class A (I) 2,996 350,832
Shenandoah Telecommunications Company 652 20,316
Spok Holdings, Inc. 955 18,307
Sprint Corp. (I) 92,363 437,801
T-Mobile US, Inc. (I) 18,885 598,466
Telephone & Data Systems, Inc. 2,523 62,823
United States Cellular Corp. (I) 2,040 72,869
1,593,209
11,778,068
Utilities - 2.7%
Electric utilities - 1.4%
ALLETE, Inc. 1,049 55,345
American Electric Power Company, Inc. 11,402 641,363
Cleco Corp. 1,421 77,473
Duke Energy Corp. 16,555 1,271,093
Edison International 7,600 474,772
El Paso Electric Company 1,103 42,620
Entergy Corp. 4,209 326,155
Eversource Energy 7,356 371,625
Exelon Corp. 20,126 676,435
FirstEnergy Corp. 9,817 344,184
Great Plains Energy, Inc. 3,613 96,395
Hawaiian Electric Industries, Inc. 2,379 76,413
IDACORP, Inc. 1,163 73,118
ITC Holdings Corp. 3,625 135,684
MGE Energy, Inc. 946 41,927
NextEra Energy, Inc. 10,225 1,063,911
NRG Yield, Inc., Class A 1,481 75,131
OGE Energy Corp. 4,660 147,303
Otter Tail Corp. 937 30,143
Pepco Holdings, Inc. 5,969 160,148
Pinnacle West Capital Corp. 2,524 160,905
PNM Resources, Inc. 1,941 56,677
Portland General Electric Company 1,931 71,621
PPL Corp. 15,548 523,346
The Empire District Electric Company 1,051 26,086
The Southern Company 20,993 929,570
UIL Holdings Corp. 1,287 66,178
Westar Energy, Inc. 2,950 114,342
Xcel Energy, Inc. 11,727 408,217
8,538,180
Gas utilities - 0.2%
AGL Resources, Inc. 2,701 134,105
AmeriGas Partners LP 2,087 99,633
Atmos Energy Corp. 2,251 124,480
Chesapeake Utilities Corp. 416 21,054
Ferrellgas Partners LP 1,879 45,810
National Fuel Gas Company 1,894 114,265
New Jersey Resources Corp. 1,964 61,002
Northwest Natural Gas Company 749 35,915
ONE Gas, Inc. 1,229 53,130
Piedmont Natural Gas Company, Inc. 1,834 67,693
Questar Corp. 3,934 93,865
South Jersey Industries, Inc. 786 42,664
Southwest Gas Corp. 1,053 61,253
Star Gas Partners LP 2,049 15,163
Suburban Propane Partners LP 1,355 58,224
The Laclede Group, Inc. 995 50,964
UGI Corp. 4,009 130,653
WGL Holdings, Inc. 1,161 65,480
1,275,353
Independent power and renewable electricity producers - 0.1%
AES Corp. 17,017 218,668
Atlantic Power Corp. 2,517 7,073
Calpine Corp. (I) 9,520 217,722
Nextera Energy Partners LP 514 22,523
NRG Energy, Inc. 7,974 200,865
Ormat Technologies, Inc. (L) 1,074 40,833
Terraform Power, Inc., Class A (I) 2,465 89,997
797,681
Multi-utilities - 0.9%
Alliant Energy Corp. 2,533 159,579
Ameren Corp. 5,605 236,531
Avista Corp. 1,574 53,799
Black Hills Corp. 1,042 52,558
CenterPoint Energy, Inc. 9,943 202,937
CMS Energy Corp. 6,393 223,180
Consolidated Edison, Inc. 6,785 413,885
Dominion Resources, Inc. 13,650 967,376
DTE Energy Company 4,083 329,457
Integrys Energy Group, Inc. 1,826 131,509
MDU Resources Group, Inc. 4,469 95,368
NiSource, Inc. 7,353 324,708
NorthWestern Corp. 970 52,176
PG&E Corp. 11,034 585,574
Public Service Enterprise Group, Inc. 11,828 495,830
SCANA Corp. 3,198 175,858
Sempra Energy 5,741 625,884

The accompanying notes are an integral part of the financial statements. 294


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Total Stock Market Index Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)
Multi-utilities (continued)
TECO Energy, Inc. 5,130 $ 99,522
Vectren Corp. 1,933 85,323
Wisconsin Energy Corp. 5,233 259,034
5,570,088
Water utilities - 0.1%
American States Water Company 861 34,345
American Water Works Company, Inc. 4,120 223,345
Aqua America, Inc. 4,000 105,400
Artesian Resources Corp., Class A 784 16,770
California Water Service Group 1,119 27,427
Connecticut Water Service, Inc. 541 19,655
Middlesex Water Company 892 20,302
Pure Cycle Corp. (I) 1,287 6,486
SJW Corp. 641 19,813
York Water Company 973 23,624
497,167
16,678,469
TOTAL COMMON STOCKS (Cost $330,497,405) $ 579,858,894
 
CORPORATE BONDS - 0.0%
Financials - 0.0%
GAMCO Investors, Inc. 3.419%, 12/31/2015 * $ 2,800 $ 2,729
TOTAL CORPORATE BONDS (Cost $2,622) $ 2,729
 
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%
Biotime, Inc. (Expiration
       Date: 10/01/2018) (I)(N) 184 368
Eagle Bulk Shipping, Inc. (Expiration
       Date: 10/15/2021) (I)(N) 92 85
Genco Shipping & Trading Ltd. (Expiration
       Date: 07/09/2021) (I)(N) 84 57
Imperial Holdings (Expiration
       Date: 04/11/2019) (I)(N) 18 15
Magnum Hunter Resources Corp. (Expiration
       Date: 04/15/2016; Strike Price: $8.50) (I)(L) 420 4
TOTAL WARRANTS (Cost $18,985) $ 529
 
SECURITIES LENDING COLLATERAL - 1.4%
John Hancock
       Collateral Trust, 0.1102% (W)(Y) 855,010 8,554,372
TOTAL SECURITIES LENDING
COLLATERAL (Cost $8,554,646) $ 8,554,372
 
SHORT-TERM INVESTMENTS - 5.8%
Repurchase agreement - 5.8%
Repurchase Agreement with State Street Corp.
       dated 03/31/2015 at 0.000% to be
       repurchased at $35,906,000 on 04/01/2015,
       collateralized by $29,040,000 U.S. Treasury
       Bonds, 3.750% due 11/15/2043 (valued at
       $36,628,152, including interest) $ 35,906,000 $ 35,906,000
TOTAL SHORT-TERM INVESTMENTS (Cost $35,906,000)   $ 35,906,000
Total Investments (Total Stock Market Index Trust)  
       (Cost $374,983,949) - 101.2% $ 624,322,524
Other assets and liabilities, net - (1.2%) (7,622,626 )
TOTAL NET ASSETS - 100.0% $ 616,699,898

Ultra Short Term Bond Trust

Shares or
Principal
      Amount       Value
U.S. GOVERNMENT AND AGENCY
OBLIGATIONS - 17.9%
U.S. Government - 10.8%
U.S. Treasury Notes
       0.250%, 05/15/2015 to 08/15/2015 $ 16,000,000 $ 16,003,752
       0.375%, 06/15/2015 8,000,000 8,004,369
24,008,121
U.S. Government Agency - 7.1%
Federal Home Loan Mortgage Corp.
       1.890%, 12/01/2035 (P) 220,998 232,274
       1.940%, 12/01/2036 (P) 145,609 153,595
       1.947%, 06/01/2036 (P) 246,655 261,656
       2.149%, 05/01/2037 (P) 481,785 509,777
       2.192%, 02/01/2036 (P) 420,179 445,607
       2.236%, 12/01/2035 (P) 517,711 550,183
       2.294%, 11/01/2036 (P) 426,410 456,059
       2.356%, 05/01/2034 (P) 540,798 577,415
       2.420%, 08/01/2035 (P) 543,221 580,992
       2.613%, 06/01/2035 (P) 523,233 559,614
Federal National Mortgage Association
       1.840%, 10/01/2038 (P) 469,646 490,388
       1.865%, 10/01/2035 (P) 861,406 905,093
       1.917%, 02/01/2035 (P) 700,729 732,231
       1.979%, 04/01/2035 (P) 2,296,262 2,430,033
       2.117%, 07/01/2035 (P) 908,787 967,954
       2.311%, 01/01/2036 (P) 618,814 659,392
       2.321%, 02/01/2035 (P) 1,117,838 1,192,357
       2.344%, 05/01/2036 (P) 1,388,165 1,480,689
       2.369%, 01/01/2036 (P) 515,405 550,261
       2.378%, 07/01/2035 (P) 500,831 534,867
       2.468%, 05/01/2034 (P) 354,980 379,662
Government National Mortgage Association
       1.625%, 08/20/2032 to 08/20/2035 (P) 1,142,184 1,183,416
  15,833,515
TOTAL U.S. GOVERNMENT AND AGENCY
OBLIGATIONS (Cost $36,751,959) $ 39,841,636
 
CORPORATE BONDS - 55.9%
Consumer discretionary - 8.1%
American Honda Finance Corp.
       0.636%, 05/26/2016 (P)(S) 2,000,000 2,007,374

The accompanying notes are an integral part of the financial statements. 295


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Ultra Short Term Bond Trust (continued)

  Shares or
Principal
      Amount       Value
CORPORATE BONDS (continued)
Consumer discretionary (continued)
American Honda Finance Corp. (continued)
       1.000%, 08/11/2015 (S) $ 1,500,000 $ 1,503,423
       1.125%, 10/07/2016 1,000,000 1,005,358
Comcast Corp. 4.950%, 06/15/2016 1,500,000 1,575,654
Daimler Finance North America LLC
       1.250%, 01/11/2016 (S) 500,000 501,820
       1.300%, 07/31/2015 (S) 1,500,000 1,503,986
       1.650%, 04/10/2015 (S) 2,750,000 2,750,308
Ford Motor Credit Company LLC
       5.625%, 09/15/2015 1,500,000 1,531,370
       7.000%, 04/15/2015 1,000,000 1,001,580
Hyundai Motor Manufacturing Czech sro  
       4.500%, 04/15/2015 (S) 1,000,000 1,000,828
TCI Communications, Inc.
       8.750%, 08/01/2015 1,625,000 1,669,200
Viacom, Inc. 6.250%, 04/30/2016 2,000,000 2,118,720
18,169,621
Consumer staples - 2.1%
Anheuser-Busch InBev Worldwide, Inc.
       0.800%, 07/15/2015 2,000,000 2,002,536
ConAgra Foods, Inc.
       1.350%, 09/10/2015 1,000,000 1,002,054
       5.819%, 06/15/2017 1,500,000 1,631,934
  4,636,524
Energy - 2.1%
Anadarko Petroleum Corp.
       5.950%, 09/15/2016 2,000,000 2,133,338
Enterprise Products Operating LLC
       1.250%, 08/13/2015 1,000,000 1,001,457
Transocean, Inc. 4.950%, 11/15/2015 1,624,000 1,652,420
  4,787,215
Financials - 23.0%
Abbey National Treasury Services PLC
       4.000%, 04/27/2016 1,256,000 1,295,049
American Express Credit Corp.
       1.750%, 06/12/2015 3,000,000 3,006,081
       2.375%, 03/24/2017 1,000,000 1,026,671
American International Group, Inc.
       5.050%, 10/01/2015 2,000,000 2,042,502
       5.600%, 10/18/2016 2,500,000 2,665,023
Bank of America Corp. 3.700%, 09/01/2015 1,582,000 1,600,807
Bank of America NA 5.300%, 03/15/2017 1,775,000 1,895,409
Bank of Montreal 0.736%, 09/11/2015 (P) 1,500,000 1,503,309
BB&T Corp. 3.200%, 03/15/2016 1,500,000 1,531,479
Capital One Financial Corp.
       3.150%, 07/15/2016 2,000,000 2,050,926
       5.500%, 06/01/2015 1,500,000 1,511,799
Citigroup, Inc. 4.875%, 05/07/2015 1,750,000 1,756,144
Credit Agricole SA 3.500%, 04/13/2015 (S) 3,870,000 3,872,303
HCP, Inc. 3.750%, 02/01/2016 1,839,000 1,880,635
ING Bank NV 2.000%, 09/25/2015 (S) 2,000,000 2,012,790
JPMorgan Chase & Co.
       1.125%, 02/26/2016 1,150,000 1,152,697
       3.150%, 07/05/2016 750,000 769,391
MetLife Institutional Funding II
       1.625%, 04/02/2015 (S) 1,000,000 1,000,000
MetLife, Inc. 6.750%, 06/01/2016 2,000,000 2,134,372
Morgan Stanley 0.733%, 10/15/2015 (P) 1,000,000 1,001,416
National Rural Utilities Cooperative
       Finance Corp. 0.561%, 11/23/2016 (P) 2,000,000 2,001,824
Prudential Financial, Inc. 4.750%, 09/17/2015 2,500,000 2,544,600
Rabobank Nederland NV
       0.750%, 03/18/2016 (P) 1,000,000 1,003,557
Societe Generale SA
       3.100%, 09/14/2015 (S) 1,590,000 1,606,393
       3.500%, 01/15/2016 (S) 2,000,000 2,042,220
The Goldman Sachs Group, Inc.
       0.656%, 07/22/2015 (P) 2,500,000 2,500,588
       5.350%, 01/15/2016 2,000,000 2,066,886
The Royal Bank of Scotland PLC
       4.375%, 03/16/2016 1,750,000 1,805,493
  51,280,364
Health care - 6.2%
AbbVie, Inc. 1.015%, 11/06/2015 (P) 2,000,000 2,006,042
Actavis Funding SCS 1.850%, 03/01/2017 2,000,000 2,014,132
Amgen, Inc.
       2.125%, 05/15/2017 2,000,000 2,036,418
       2.500%, 11/15/2016 2,000,000 2,047,286
Express Scripts Holding Company
       2.650%, 02/15/2017 2,500,000 2,560,495
Mylan, Inc. 1.800%, 06/24/2016 1,200,000 1,209,506
Quest Diagnostics, Inc. 5.450%, 11/01/2015 1,855,000 1,908,235
13,782,114
Industrials - 4.4%
Air Lease Corp. 4.500%, 01/15/2016 1,000,000 1,022,250
BAE Systems Holdings, Inc.
       5.200%, 08/15/2015 (S) 1,000,000 1,015,870
Cooper US, Inc. 5.450%, 04/01/2015 1,000,000 1,000,000
Eaton Corp. 0.950%, 11/02/2015 750,000 750,107
Hutchison Whampoa International, Ltd.
       4.625%, 09/11/2015 (S) 1,500,000 1,525,092
PACCAR Financial Corp.
       0.526%, 02/08/2016 (P) 1,500,000 1,501,905
Penske Truck Leasing Company LP
       2.500%, 03/15/2016 (S) 1,500,000 1,521,608
Ryder System, Inc. 3.600%, 03/01/2016 1,500,000 1,535,580
9,872,412
Information technology - 0.5%
Hewlett-Packard Company
       2.650%, 06/01/2016 1,000,000 1,018,603
Materials - 2.2%
Glencore Canada Corp. 5.375%, 06/01/2015 2,000,000 2,012,938
Glencore Finance Canada, Ltd.
       2.050%, 10/23/2015 (S) 1,000,000 1,004,200
The Dow Chemical Company
       2.500%, 02/15/2016 1,820,000 1,846,936
4,864,074
Telecommunication services - 2.7%
AT&T, Inc.
       2.400%, 08/15/2016 3,000,000 3,052,746
       2.500%, 08/15/2015 1,500,000 1,510,097
Telefonica Emisiones SAU
       6.421%, 06/20/2016 1,315,000 1,397,113
5,959,956
Utilities - 4.6%
CenterPoint Energy Resources Corp.
       6.150%, 05/01/2016 1,000,000 1,054,343
Dominion Resources, Inc. 1.950%, 08/15/2016 2,000,000 2,023,536
Entergy Texas, Inc. 3.600%, 06/01/2015 1,000,000 1,003,439
Georgia Power Company
       0.590%, 03/15/2016 (P) 2,000,000 1,998,896

The accompanying notes are an integral part of the financial statements. 296


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Ultra Short Term Bond Trust (continued)

Shares or
Principal
      Amount       Value
CORPORATE BONDS (continued)
Utilities (continued)
NextEra Energy Capital Holdings, Inc.
       1.200%, 06/01/2015 $ 2,225,000 $ 2,225,125
The Southern Company 2.375%, 09/15/2015 2,000,000 2,015,860
10,321,199
TOTAL CORPORATE BONDS (Cost $127,572,307) $ 124,692,082
 
COLLATERALIZED MORTGAGE
OBLIGATIONS - 3.4%
U.S. Government Agency - 3.4%    
Federal Home Loan Mortgage Corp.,
       Series 4106, Class DF
       0.574%, 09/15/2042 (P) 1,819,698 1,823,119
Federal National Mortgage Association
       Series 2013-10, Class FT,
              0.523%, 04/25/2042 (P) 1,863,996 1,861,428
       Series 2013-26, Class JF,
              0.473%, 10/25/2032 (P) 3,816,173 3,823,622
  7,508,169
TOTAL COLLATERALIZED MORTGAGE
OBLIGATIONS (Cost $7,524,185) $ 7,508,169
 
ASSET BACKED SECURITIES - 16.5%
Ally Auto Receivables Trust
       Series 2011-3, Class A4,
              1.610%, 05/16/2016 138,291 138,345
       Series 2012-4, Class A4,
              0.800%, 10/16/2017 2,400,000 2,399,722
American Express Credit Account
       Master Trust, Series 2012-5, Class A
       0.590%, 05/15/2018 3,050,000 3,050,140
AmeriCredit Automobile Receivables Trust
       Series 2013-2, Class A3,
              0.650%, 12/08/2017 2,666,451 2,664,894
       Series 2014-2, Class A2A,
              0.540%, 10/10/2017 750,943 750,412
BA Credit Card Trust, Series 2014-A2,
       Class A 0.444%, 09/16/2019 (P) 2,000,000 2,000,414
Capital One Multi-Asset Execution Trust,
       Series 2007-A1, Class A1
       0.224%, 11/15/2019 (P) 2,000,000 1,990,902
CarMax Auto Owner Trust
       Series 2012-1, Class A3,
              0.890%, 09/15/2016 188,934 188,985
       Series 2013-3, Class A3,
              0.970%, 04/16/2018 2,470,000 2,475,355
       Series 2014-1, Class A2,
              0.470%, 02/15/2017 929,679 929,411
Chase Issuance Trust
       Series 2012-A5, Class A5,
              0.590%, 08/15/2017 4,000,000 4,001,964
       Series 2013-A4, Class A4,
              0.274%, 05/15/2017 (P) 1,000,000 1,000,000
Discover Card Execution Note Trust,
       Series 2012-A3, Class A3
       0.860%, 11/15/2017 2,000,000 2,001,048
Ford Credit Auto Owner Trust
       Series 2012-D, Class A3,
              0.510%, 04/15/2017 1,013,586 1,013,488
       Series 2014-B, Class A2,
              0.470%, 03/15/2017 2,085,107 2,085,355
Honda Auto Receivables Owner Trust,
       Series 2014-3, Class A3
       0.880%, 06/15/2018 665,000 664,830
Huntington Auto Trust
       Series 2012-1, Class A3,
              0.810%, 09/15/2016 31,048 31,055
       Series 2012-2, Class A3,
              0.510%, 04/17/2017 1,247,193 1,246,822
Hyundai Auto Lease Securitization Trust,
       Series 2014-B, Class A2
       0.610%, 02/15/2017 (S) 2,861,386 2,860,173
USAA Auto Owner Trust, Series 2012-1,
       Class A4 0.570%, 08/15/2017 3,000,000 2,999,877
Volkswagen Auto Lease Trust, Series 2014-A,
       Class A2A 0.520%, 10/20/2016 398,881 398,758
Volkswagen Auto Loan Enhanced Trust,
       Series 2012-1, Class A3
       0.850%, 08/22/2016 325,933 326,176
Westlake Automobile Receivables Trust,
       Series 2014-1A, Class A2
       0.700%, 05/15/2017 (S) 1,484,432 1,483,505
TOTAL ASSET BACKED SECURITIES (Cost $36,725,083) $ 36,701,631
 
SHORT-TERM INVESTMENTS - 6.1%
U.S. Government - 4.5%
U.S. Treasury Bill 0.020%, 04/02/2015 * 10,000,000 10,000,000
Repurchase agreement - 1.6%
Barclays Tri-Party Repurchase Agreement
       dated 03/31/2015 at 0.130% to be
       repurchased at $3,527,013 on 04/01/2015,
       collateralized by $3,635,400 U.S. Treasury
       Inflation Indexed Notes, 0.250% due
       01/15/2025 (valued at $3,597,606,
       including interest) 3,527,000 3,527,000
TOTAL SHORT-TERM INVESTMENTS (Cost $13,526,989) $ 13,527,000
Total Investments (Ultra Short Term Bond Trust)
       (Cost $222,100,523) - 99.8% $ 222,270,518
Other assets and liabilities, net - 0.2% 537,324
TOTAL NET ASSETS - 100.0% $ 222,807,842

U.S. Equity Trust

Shares or
  Principal
      Amount       Value
COMMON STOCKS - 97.7%
Consumer discretionary - 9.3%
Auto components - 0.1%
Gentex Corp. 22,000 $ 402,600
Distributors - 0.1%
Genuine Parts Company 13,000 1,211,470
Hotels, restaurants and leisure - 0.7%
Chipotle Mexican Grill, Inc. (I) 700 455,378
McDonald’s Corp. 48,151 4,691,833
Texas Roadhouse, Inc. 7,200 262,296
5,409,507
Household durables - 0.1%
Garmin, Ltd. 4,700 223,344

The accompanying notes are an integral part of the financial statements. 297


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

U.S. Equity Trust (continued)

Shares or
Principal
      Amount       Value
COMMON STOCKS (continued)
Household durables (continued)
Tupperware Brands Corp. 5,000 $ 345,100
568,444
Internet and catalog retail - 5.1%
Amazon.com, Inc. (I) 107,771 40,101,585
The Priceline Group, Inc. (I) 500 582,075
40,683,660
Leisure products - 0.2%
Hasbro, Inc. (L) 8,200 518,568
Mattel, Inc. 29,500 674,075
Polaris Industries, Inc. 4,400 620,840
  1,813,483
Media - 0.0%  
Scripps Networks Interactive, Inc., Class A 5,800 397,648
Specialty retail - 1.1%
Bed Bath & Beyond, Inc. (I) 36,700 2,817,643
Ross Stores, Inc. 22,600 2,381,136
The TJX Companies, Inc. 46,900 3,285,345
Tiffany & Company 4,000 352,040
8,836,164
Textiles, apparel and luxury goods - 1.9%
Coach, Inc. 33,500 1,387,905
Fossil Group, Inc. (I) 2,100 173,145
NIKE, Inc., Class B 93,020 9,332,697
Ralph Lauren Corp. 7,100 933,650
Under Armour, Inc., Class A (I) 2,900 234,175
VF Corp. 42,140 3,173,563
15,235,135
74,558,111
Consumer staples - 17.4%
Beverages - 4.0%
Brown-Forman Corp., Class B 13,698 1,237,614
Monster Beverage Corp. (I) 14,040 1,943,066
PepsiCo, Inc. 20,476 1,957,915
The Coca-Cola Company 658,000 26,681,900
31,820,495
Food and staples retailing - 3.1%
Costco Wholesale Corp. 50,700 7,680,797
CVS Health Corp. 67,100 6,925,391
Sysco Corp. 33,500 1,263,955
Wal-Mart Stores, Inc. 112,280 9,235,030
25,105,173
Food products - 0.5%
General Mills, Inc. 1,600 90,560
Hormel Foods Corp. 17,900 1,017,615
McCormick & Company, Inc. 15,100 1,164,361
The Hershey Company 15,000 1,513,650
3,786,186
Household products - 5.7%
Church & Dwight Company, Inc. 18,200 1,554,644
Colgate-Palmolive Company 143,080 9,921,167
Kimberly-Clark Corp. 15,400 1,649,494
The Procter & Gamble Company 398,100 32,620,314
45,745,619
Personal products - 0.3%
Herbalife, Ltd. (I)(L) 10,300 440,428
The Estee Lauder Companies, Inc., Class A 24,262 2,017,628
2,458,056
Tobacco - 3.8%
Philip Morris International, Inc. 376,584 28,368,073
Reynolds American, Inc. 31,600 2,177,556
30,545,629
139,461,158
Energy - 11.1%
Oil, gas and consumable fuels - 11.1%
Apache Corp. 56,790 3,426,141
Chevron Corp. 341,271 35,826,630
ConocoPhillips 178,900 11,138,314
Denbury Resources, Inc. (L) 12,600 91,854
Devon Energy Corp. 40,500 2,442,555
Exxon Mobil Corp. 291,200 24,752,000
Hess Corp. 9,200 624,404
Marathon Oil Corp. 120,900 3,156,699
Murphy Oil Corp. 14,400 671,040
Occidental Petroleum Corp. 96,835 7,068,955
89,198,592
89,198,592
Financials - 2.7%
Banks - 1.5%
JPMorgan Chase & Co. 200,900 12,170,522
Consumer finance - 1.2%
American Express Company 124,200 9,702,504
21,873,026
Health care - 20.4%
Biotechnology - 2.0%
Amgen, Inc. 40,500 6,473,925
Biogen, Inc. (I) 22,934 9,683,652
16,157,577
Health care equipment and supplies - 5.5%
Abbott Laboratories 227,101 10,521,589
Baxter International, Inc. 29,301 2,007,119
Becton, Dickinson and Company 24,700 3,546,673
C.R. Bard, Inc. 9,490 1,588,152
Edwards Lifesciences Corp. (I) 11,320 1,612,647
IDEXX Laboratories, Inc. (I) 500 77,240
Intuitive Surgical, Inc. (I) 4,270 2,156,478
Medtronic PLC 144,839 11,295,994
ResMed, Inc. (L) 12,600 904,428
Sirona Dental Systems, Inc. (I) 4,600 413,954
St. Jude Medical, Inc. 25,600 1,674,240
Stryker Corp. 52,500 4,843,125
Varian Medical Systems, Inc. (I) 13,300 1,251,397
Zimmer Holdings, Inc. 20,400 2,397,408
44,290,444
Health care providers and services - 7.5%
AmerisourceBergen Corp. 4,300 488,781
Anthem, Inc. 4,300 663,963
Express Scripts Holding Company (I) 486,172 42,185,144
Henry Schein, Inc. (I) 10,900 1,521,858
Humana, Inc. 18,800 3,346,776
Laboratory Corp. of America Holdings (I) 700 88,263
MEDNAX, Inc. (I) 3,700 268,287
Patterson Companies, Inc. 4,800 234,192

The accompanying notes are an integral part of the financial statements. 298


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

U.S. Equity Trust (continued)

Shares or
  Principal
      Amount       Value
COMMON STOCKS (continued)
Health care providers and services (continued)
UnitedHealth Group, Inc. 94,622 $ 11,192,836
59,990,100
Health care technology - 0.2%
Cerner Corp. (I) 27,980 2,049,815
Life sciences tools and services - 0.3%
Agilent Technologies, Inc. 5,600 232,680
Bio-Techne Corp. 2,000 200,580
Mettler-Toledo International, Inc. (I) 1,900 624,435
Waters Corp. (I) 10,400 1,292,928
2,350,623
Pharmaceuticals - 4.9%
Actavis PLC (I) 10,229 3,044,355
Eli Lilly & Company 22,301 1,620,168
Johnson & Johnson 344,000 34,606,400
39,270,923
164,109,482
Industrials - 8.2%
Aerospace and defense - 1.7%  
General Dynamics Corp. 1,700 230,741
Honeywell International, Inc. 62,300 6,498,513
Precision Castparts Corp. 18,700 3,927,000
Rockwell Collins, Inc. 3,322 320,739
United Technologies Corp. 19,621 2,299,581
13,276,574
Air freight and logistics - 0.3%
C.H. Robinson Worldwide, Inc. 17,300 1,266,706
Expeditors International of Washington, Inc. 16,300 785,334
2,052,040
Commercial services and supplies - 0.1%
Rollins, Inc. 12,450 307,889
Stericycle, Inc. (I) 4,500 631,935
939,824
Electrical equipment - 1.0%
AMETEK, Inc. 17,000 893,180
Emerson Electric Company 86,300 4,886,306
Hubbell, Inc., Class B 3,500 383,670
Rockwell Automation, Inc. 16,900 1,960,231
8,123,387
Industrial conglomerates - 3.4%
3M Company 105,400 17,385,730
Danaher Corp. 102,900 8,736,210
Roper Industries, Inc. 5,200 894,400
27,016,340
Machinery - 1.3%
CLARCOR, Inc. 2,800 184,968
Donaldson Company, Inc. 1,405 52,983
Dover Corp. 12,900 891,648
Flowserve Corp. 4,200 237,258
Illinois Tool Works, Inc. 58,641 5,696,387
Lincoln Electric Holdings, Inc. 2,200 143,858
Pall Corp. 7,800 783,042
Snap-on, Inc. 1,600 235,296
WABCO Holdings, Inc. (I) 15,700 1,929,216
Wabtec Corp. 7,100 674,571
10,829,227
Professional services - 0.1%
Equifax, Inc. 5,700 530,100
Road and rail - 0.0%
J.B. Hunt Transport Services, Inc. 2,500 213,488
Landstar System, Inc. 2,700 179,010
392,498
Trading companies and distributors - 0.3%
Fastenal Company 19,900 824,557
MSC Industrial Direct Company, Inc., Class A 2,000 144,400
W.W. Grainger, Inc. 6,600 1,556,346
2,525,303
65,685,293
Information technology - 27.3%
Communications equipment - 5.0%
Cisco Systems, Inc. 642,519 17,685,335
F5 Networks, Inc. (I) 7,200 827,568
QUALCOMM, Inc. 271,802 18,846,751
Ubiquiti Networks, Inc. (L) 96,175 2,841,971
40,201,625
Electronic equipment, instruments and components - 0.2%
Amphenol Corp., Class A 23,300 1,373,069
Internet software and services - 4.9%
Akamai Technologies, Inc. (I) 11,900 845,436
eBay, Inc. (I) 99,211 5,722,490
Google, Inc., Class A (I) 59,117 32,792,200
Google, Inc., Class C (I) 221 121,108
39,481,234
IT services - 3.9%
Accenture PLC, Class A 80,100 7,504,569
Automatic Data Processing, Inc. 6,800 582,352
Cognizant Technology
       Solutions Corp., Class A (I) 70,000 4,367,300
Gartner, Inc. (I) 1,900 159,315
IBM Corp. 22,102 3,547,371
Jack Henry & Associates, Inc. 6,600 461,274
MasterCard, Inc., Class A 90,149 7,787,972
Paychex, Inc. 37,900 1,880,409
Teradata Corp. (I) 98,200 4,334,548
Total System Services, Inc. 13,100 499,765
31,124,875
Semiconductors and semiconductor equipment - 0.6%
Analog Devices, Inc. 35,805 2,255,715
Avago Technologies, Ltd. 2,300 292,054
Linear Technology Corp. 18,400 861,120
Skyworks Solutions, Inc. 7,100 697,859
Xilinx, Inc. 28,500 1,205,550
5,312,298
Software - 7.6%
ANSYS, Inc. (I) 11,400 1,005,366
CA, Inc. 26,300 857,643
Citrix Systems, Inc. (I) 20,300 1,296,561
FactSet Research Systems, Inc. 2,400 382,080
Intuit, Inc. 32,000 3,102,720
Microsoft Corp. 654,336 26,602,030
Oracle Corp. 621,239 26,806,463
Red Hat, Inc. (I) 10,500 795,375
60,848,238

The accompanying notes are an integral part of the financial statements. 299


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

U.S. Equity Trust (continued)

Shares or
Principal
      Amount       Value
COMMON STOCKS (continued)
Technology hardware, storage and peripherals - 5.1%
Apple, Inc. 277,620 $ 34,544,257
EMC Corp. 239,800 6,129,288
NetApp, Inc. 9,800 347,508
  41,021,053
219,362,392
Materials - 1.3%
Chemicals - 1.3%
International Flavors & Fragrances, Inc. 2,100 246,540
Monsanto Company 70,200 7,900,308
Sigma-Aldrich Corp. 11,900 1,645,175
The Sherwin-Williams Company 800 227,600
10,019,623
Containers and packaging - 0.0%
AptarGroup, Inc. 5,700 362,064
  10,381,687
TOTAL COMMON STOCKS (Cost $677,195,405) $ 784,629,741
 
RIGHTS - 0.0%
Community Health Systems, Inc. (Expiration
       Date: 01/27/2016; Strike Price: $10.50) (I) 23,900 526
TOTAL RIGHTS (Cost $1,554) $ 526
 
SECURITIES LENDING COLLATERAL - 0.6%
John Hancock
       Collateral Trust, 0.1102% (Y)(W) 436,432 4,366,500
TOTAL SECURITIES LENDING
COLLATERAL (Cost $4,366,564) $ 4,366,500
 
SHORT-TERM INVESTMENTS - 2.3%
Money market funds - 2.3%
State Street Institutional Treasury Money
       Market Fund, 0.0000% (Y) 18,542,505 18,542,505
TOTAL SHORT-TERM INVESTMENTS (Cost $18,542,505) $ 18,542,505
Total Investments (U.S. Equity Trust)
       (Cost $700,106,028) - 100.6% $ 807,539,272
Other assets and liabilities, net - (0.6%) (4,452,987 )
TOTAL NET ASSETS - 100.0% $ 803,086,285

Utilities Trust

Shares or
  Principal
      Amount       Value
COMMON STOCKS - 90.5%
Consumer discretionary - 10.0%
Media - 10.0%
Altice SA (I) 55,758 $ 6,030,193
Astro Malaysia Holdings BHD 2,016,200 1,739,272
Charter Communications, Inc., Class A (I) 30,735 5,935,236
Comcast Corp., Special Class A 230,649 12,931,336
Liberty Global PLC, Series A (I) 17,928 922,754
Liberty Global PLC, Series C (I) 213,154 10,617,201
Quebecor, Inc., Class B 105,692 2,827,243
Time Warner Cable, Inc. 51,333 7,693,790
48,697,025
Energy - 17.2%  
Oil, gas and consumable fuels - 17.2%
Anadarko Petroleum Corp. 48,226 3,993,595
Antero Midstream Partners LP 20,228 489,315
Cabot Oil & Gas Corp. 5,186 153,143
Columbia Pipeline Partners LP (I) 73,925 2,046,983
Cone Midstream Partners LP 25,410 442,388
Enable Midstream Partners LP 56,786 931,290
Enbridge, Inc. 154,509 7,447,613
Energen Corp. 22,924 1,512,984
Energy Transfer Equity LP 98,706 6,254,012
Energy Transfer Partners LP 17,504 975,848
Enterprise Products Partners LP 91,218 3,003,809
EQT Corp. 51,630 4,278,578
JP Energy Partners LP 65,788 732,878
Kinder Morgan, Inc. 292,628 12,307,934
MarkWest Energy Partners LP 19,939 1,317,968
Memorial Resource Development Corp. (I) 11,633 206,369
Noble Energy, Inc. 61,795 3,021,776
ONEOK Partners LP 32,994 1,347,475
ONEOK, Inc. 30,438 1,468,329
Plains All American Pipeline LP 23,718 1,156,727
Plains GP Holdings LP, Class A 283,001 8,028,738
SemGroup Corp., Class A 41,785 3,398,792
The Williams Companies, Inc. 206,939 10,469,044
Western Gas Equity Partners LP 41,068 2,464,080
Williams Partners LP 115,007 5,660,645
83,110,313
83,110,313
Financials - 1.4%
Real estate investment trusts - 1.4%
American Tower Corp. 61,785 5,817,058
InfraREIT, Inc. (I) 36,902 1,055,028
6,872,086
Information technology - 0.3%
Internet software and services - 0.3%
Rocket Internet SE (I)(S) 30,002 1,484,599
Telecommunication services - 11.5%
Diversified telecommunication services - 6.8%
Bezeq The
       Israeli Telecommunication Corp., Ltd. 1,946,205 3,624,109
BT Group PLC 361,726 2,350,439
Com Hem Holding AB (I) 581,131 4,718,489
Hellenic
       Telecommunications Organization SA (I) 348,492 3,086,616
Oi SA (I) 130,153 209,612
TDC A/S 847,734 6,073,981
Telecom Italia SpA 6,069,036 5,706,806
TELUS Corp. 42,234 1,402,854
Verizon Communications, Inc. 78,677 3,826,063
XL Axiata Tbk PT 5,818,500 1,933,250
  32,932,219
Wireless telecommunication services - 4.7%
Advanced Info Service PCL 26,500 193,009
Bharti Airtel, Ltd. 41,859 263,308
Drillisch AG 5,516 215,167
KDDI Corp. 92,400 2,087,549
MegaFon OAO, GDR 75,649 1,203,890
Mobile TeleSystems OJSC, ADR 304,768 3,078,157
Philippine Long Distance Telephone Company 11,255 715,960

The accompanying notes are an integral part of the financial statements. 300


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Utilities Trust (continued)

Shares or
Principal
        Amount       Value
COMMON STOCKS (continued)
Wireless telecommunication services (continued)
SBA Communications Corp., Class A (I) 54,284 $ 6,356,656
T-Mobile US, Inc. (I) 22,989 728,521
Turkcell Iletisim Hizmetleri AS (I) 480,792 2,466,020
Vodafone Group PLC 1,612,622 5,277,019
  22,585,256
  55,517,475
Utilities - 50.1%  
Electric utilities - 22.0%
ALLETE, Inc. 64,132 3,383,604
American Electric Power Company, Inc. 155,012 8,719,425
Cheung Kong Infrastructure Holdings, Ltd. 205,000 1,760,702
Cia Paranaense de Energia, ADR 57,823 605,985
CPFL Energia SA 413,919 2,653,502
Edison International 14,967 934,988
EDP - Energias de Portugal SA 2,367,123 8,865,217
EDP - Energias do Brasil SA 1,002,103 3,249,758
Enel SpA 1,679,531 7,587,153
Equatorial Energia SA 156,201 1,529,439
Exelon Corp. 435,579 14,639,810
FirstEnergy Corp. 7,152 250,749
Iberdrola SA 337,575 2,176,870
NextEra Energy, Inc. 156,325 16,265,616
NRG Yield, Inc., Class A 38,791 1,967,867
OGE Energy Corp. 270,761 8,558,755
Pinnacle West Capital Corp. 11,372 724,965
PPL Corp. 509,454 17,148,222
Red Electrica Corp. SA 53,709 4,367,256
SSE PLC 54,033 1,199,151
  106,589,034
Gas utilities - 3.1%
APA Group, Ltd. 250,719 1,724,470
China Resources Gas Group, Ltd. 1,372,000 4,268,568
Enagas SA 66,156 1,891,721
Gas Natural SDG SA 94,750 2,127,338
Infraestructura Energetica Nova SAB de CV 190,895 1,042,611
Snam SpA 716,884 3,479,851
The Laclede Group, Inc. 4,558 233,461
  14,768,020
Independent power and renewable electricity
producers - 13.2%
Abengoa Yield PLC (L) 178,822 6,040,607
AES Corp. 604,549 7,768,455
Aksa Enerji Uretim AS (I)(L) 189,790 203,967
Calpine Corp. (I) 461,475 10,553,933
China Longyuan Power Group Corp., H Shares 1,698,000 1,845,529
Drax Group PLC 224,995 1,208,444
Dynegy, Inc. (I) 334,691 10,519,338
EDP Renovaveis SA 1,490,754 10,246,342
Enel Green Power SpA 443,939 827,795
Infinis Energy PLC 259,955 724,719
NextEra Energy Partners LP 22,394 981,305
NRG Energy, Inc. 514,084 12,949,776
Tractebel Energia SA 21,700 240,012
64,110,222
Multi-utilities - 11.8%
AGL Energy, Ltd. 127,572 1,474,835
Ameren Corp. 69,677 2,940,369
CenterPoint Energy, Inc. 59,158 1,207,415
CMS Energy Corp. 120,686 4,213,148
Dominion Resources, Inc. 20,240 1,434,409
DTE Energy Company 33,786 2,726,192
GDF Suez 247,744 4,891,215
NiSource, Inc. 168,549 7,443,124
NorthWestern Corp. 43,980 2,365,684
PG&E Corp. 69,432 3,684,756
Public Service Enterprise Group, Inc. 295,556 12,389,708
Sempra Energy 113,104 12,330,598
57,101,453
242,568,729
TOTAL COMMON STOCKS (Cost $412,083,734) $ 438,250,227
 
PREFERRED SECURITIES - 8.0%
Financials - 0.8%
Real estate investment trusts - 0.8%
American Tower Corp., 5.500% 36,427 3,614,651
Telecommunication services - 1.0%
Diversified telecommunication services - 0.1%
Oi SA (I) 414,835 666,793
Wireless telecommunication services - 0.9%
T-Mobile US, Inc., 5.500% 70,874 4,157,469
4,824,262
Utilities - 6.2%
Electric utilities - 3.1%
Cia Paranaense de Energia, B Shares 171,000 1,802,933
Exelon Corp., 6.500% (L) 150,085 7,301,635
NextEra Energy, Inc., 5.799% 22,023 1,227,782
NextEra Energy, Inc., 5.889% 68,191 4,461,737
14,794,087
Independent power and renewable electricity producers - 1.2%
Dynegy, Inc., 5.375% 54,532 5,952,168
Multi-utilities - 1.9%
Dominion Resources, Inc., 6.000% 62,844 3,544,402
Dominion Resources, Inc., 6.125% 51,696 2,903,247
Dominion Resources, Inc., 6.375% 61,317 2,967,743
  9,415,392
  30,161,647
TOTAL PREFERRED SECURITIES (Cost $39,937,534) $ 38,600,560
 
RIGHTS - 0.0%
Com Hem Holding AB (I)(N) 581,131 6,680
TOTAL RIGHTS (Cost $0) $ 6,680
 
SECURITIES LENDING COLLATERAL - 0.4%
John Hancock
       Collateral Trust, 0.1102% (W)(Y) 221,942 2,220,528
TOTAL SECURITIES LENDING
COLLATERAL (Cost $2,220,557) $ 2,220,528
 
SHORT-TERM INVESTMENTS - 0.6%
Commercial paper - 0.2%
HSBC Americas, Inc., 0.050%, 04/01/2015 * $ 806,000 $ 806,000

The accompanying notes are an integral part of the financial statements. 301


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Utilities Trust (continued)

Shares or
  Principal
      Amount       Value
SHORT-TERM INVESTMENTS (continued)
Repurchase agreement - 0.4%
Repurchase Agreement with State Street Corp.
       dated 03/31/2015 at 0.000% to be
       repurchased at $1,954,000 on 04/01/2015,
       collateralized by $1,810,000 U.S. Treasury
       Notes, 3.625% due 08/15/2019 (valued at
       $1,997,878, including interest) $ 1,954,000 $ 1,954,000
TOTAL SHORT-TERM INVESTMENTS (Cost $2,760,000)     $ 2,760,000
Total Investments (Utilities Trust) (Cost $457,001,825) - 99.5%     $ 481,837,995
Other assets and liabilities, net - 0.5% 2,337,773
TOTAL NET ASSETS - 100.0% $ 484,175,768

Value Trust

Shares or
  Principal
      Amount       Value
COMMON STOCKS - 96.6%
Consumer discretionary - 9.8%
Auto components - 5.1%
Dana Holding Corp. 629,222 $ 13,314,338
Johnson Controls, Inc. 420,865 21,228,431
  34,542,769
Media - 1.6%
Gannett Company, Inc. 286,103 10,608,699
Specialty retail - 1.3%
Advance Auto Parts, Inc. 4,475 669,863
Ascena Retail Group, Inc. (I) 572,190 8,302,477
    8,972,340
Textiles, apparel and luxury goods - 1.8%
Fossil Group, Inc. (I) 144,418 11,907,264
  66,031,072
Consumer staples - 2.6%
Food products - 2.6%
ConAgra Foods, Inc. 483,776 17,672,337
Energy - 5.9%
Energy equipment and services - 4.0%
Amec Foster Wheeler PLC 942,807 12,611,543
Amec Foster Wheeler PLC, ADR 38,139 509,537
Baker Hughes, Inc. 220,892 14,044,313
  27,165,393
Oil, gas and consumable fuels - 1.9%
The Williams Companies, Inc. 255,640 12,932,828
  40,098,221
Financials - 27.2%
Banks - 8.3%
BB&T Corp. 408,079 15,911,000
Comerica, Inc. 352,451 15,906,114
Wintrust Financial Corp. 313,865 14,965,083
Zions Bancorporation 340,148 9,183,996
  55,966,193
Capital markets - 7.0%
American Capital, Ltd. (I) 899,185 13,298,946
Northern Trust Corp. 228,190 15,893,434
Stifel Financial Corp. (I) 319,942 17,836,767
  47,029,147
Insurance - 8.6%
ACE, Ltd. 72,771 8,113,239
Arthur J. Gallagher & Company 204,288 9,550,464
FNF Group 494,464 18,176,497
Marsh & McLennan Companies, Inc. 179,172 10,049,757
Willis Group Holdings PLC 251,575 12,120,884
  58,010,841
Real estate management and development - 3.3%
Forest City Enterprises, Inc., Class A (I) 881,401 22,493,354
183,499,535
Health care - 10.6%
Health care equipment and supplies - 0.4%
Becton, Dickinson and Company 16,713 2,399,820
Health care providers and services - 8.1%
Brookdale Senior Living, Inc. (I) 392,633 14,825,822
HealthSouth Corp. 435,315 19,310,573
Universal Health Services, Inc., Class B 173,249 20,393,140
  54,529,535
Life sciences tools and services - 2.1%
PerkinElmer, Inc. 284,057 14,526,675
  71,456,030
Industrials - 18.3%
Aerospace and defense - 2.5%
Textron, Inc. 389,052 17,246,675
Air freight and logistics - 1.3%
UTi Worldwide, Inc. (I) 741,476 9,120,155
Building products - 5.1%
Masco Corp. 540,102 14,420,723
Owens Corning 457,584 19,859,146
34,279,869
Commercial services and supplies - 2.0%
Clean Harbors, Inc. (I) 238,576 13,546,345
Electrical equipment - 2.1%
The Babcock & Wilcox Company 444,927 14,277,707
Machinery - 4.7%
Ingersoll-Rand PLC 258,526 17,600,450
Pentair PLC 220,055 13,839,259
31,439,709
Road and rail - 0.6%
Swift Transportation Company (I) 152,624 3,971,276
123,881,736
Information technology - 12.4%
Communications equipment - 2.3%
Ciena Corp. (I) 809,342 15,628,394
IT services - 2.5%
Teradata Corp. (I) 374,529 16,531,710
Software - 5.1%
Cadence Design Systems, Inc. (I) 734,641 13,546,780
Citrix Systems, Inc. (I) 325,469 20,787,705
34,334,485
Technology hardware, storage and peripherals - 2.5%
Diebold, Inc. 137,244 4,866,672

The accompanying notes are an integral part of the financial statements. 302


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

Value Trust (continued)

Shares or
Principal
Amount       Value
COMMON STOCKS (continued)      
Technology hardware, storage and peripherals (continued)  
NetApp, Inc. 345,450 $ 12,249,657
17,116,329
83,610,918
Materials - 4.4%
Chemicals - 4.1%
Eastman Chemical Company 196,149 13,585,280
W.R. Grace & Company (I) 145,725 14,407,831
27,993,111
Construction materials - 0.3%  
Eagle Materials, Inc. 23,583 1,970,595
29,963,706
Telecommunication services - 2.6%
Diversified telecommunication services - 2.6%
Level 3 Communications, Inc. (I) 325,284 17,513,291
Utilities - 2.8%
Electric utilities - 2.0%
Edison International 223,524 13,963,544
Multi-utilities - 0.8%
CenterPoint Energy, Inc. 259,783 5,302,171
19,265,715
TOTAL COMMON STOCKS (Cost $536,507,391) $ 652,992,561
             
SHORT-TERM INVESTMENTS - 3.4%
Money market funds - 3.4%
State Street Institutional Liquid Reserves
       Fund, 0.0986% (Y) 22,874,070 22,874,070
TOTAL SHORT-TERM INVESTMENTS (Cost $22,874,070) $ 22,874,070
Total Investments (Value Trust) (Cost $559,381,461) - 100.0% $ 675,866,631
Other assets and liabilities, net - 0.0% (228,241 )
TOTAL NET ASSETS - 100.0% $ 675,638,390
 
Percentages are based upon net assets.

Footnotes

Key to Currency Abbreviations
ARS         Argentine Peso
AUD Australian Dollar
BRL Brazilian Real
CAD Canadian Dollar
CLP Chilean Peso
COP Colombian Peso
CRC Costa Rican Colon
DKK Danish Krone
DOP Dominican Peso
EUR Euro
GBP British Pound
HKD Hong Kong Dollar
IDR   Indonesian Rupiah
JPY Japanese Yen
KRW Korean Won
MXN Mexican Peso
NZD New Zealand Dollar
NOK Norwegian Krone
PHP Philippine Peso
PLN Polish Zloty
RON Romanian New Leu
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 effective yield at period end.
LIBOR London Interbank Offered Rate
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
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 March 31, 2015.
(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 received for securities lending.
(Y) The rate shown is the annualized seven-day yield as of March 31, 2015.
* Yield represents either the annualized yield at the date of purchase, the stated coupon rate or, for floating rate securities, the rate at period end.

The accompanying notes are an integral part of the financial statements. 303


John Hancock Variable Insurance Trust
PORTFOLIO OF INVESTMENTS — March 31, 2015 (unaudited) (showing percentage of total net assets)

(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. 304


Certain funds had the following country concentration as a percentage of net assets on 3-31-15:

Alpha Opportunities Trust       
United States 79.5 %
United Kingdom 2.7 %
Japan 2.5 %
Canada 2.4 %
Switzerland 2.2 %
Ireland   2.0 %
China 1.8 %
France   1.2 %
Netherlands 1.0 %
Germany 0.6 %
Other Countries 4.1 %
Total 100.0 %
 
Fundamental Large Cap Value Trust
United States 82.3 %
United Kingdom 4.1 %
Netherlands 2.9 %
Switzerland 2.8 %
Germany 2.7 %
South Korea 2.3 %
Ireland 1.9 %
France 1.0 %
Total 100.0 %
 
Mutual Shares Trust
United States 77.9 %
United Kingdom 7.1 %
Ireland 3.6 %
Netherlands 2.6 %
Israel 2.3 %
Switzerland 1.6 %
Germany 1.5 %
Denmark 1.2 %
South Korea 1.2 %
Canada 0.5 %
Other countries 0.5 %
Total 100.0 %

305


Real Return Bond Trust      
United States 77.2 %
Italy 4.6 %
United Kingdom 3.0 %
Spain 3.0 %
Germany 2.6 %
Netherlands 2.3 %
Mexico 1.6 %
Cayman Islands 1.5 %
Brazil 1.0 %
France 0.9 %
Other Countries 2.3 %
Total 100.0 %
   
Strategic Equity Allocation Trust
United States 69.5 %
Japan 6.6 %
United Kingdom 5.5 %
Switzerland 3.1 %
France 2.8 %
Germany 2.8 %
Australia   2.2 %
Netherlands 1.0 %
Spain 1.0 %
Ireland 1.0 %
Other countries 4.5 %
Total 100.0 %
  
Strategic Income Opportunities Trust
United States 70.0 %
Canada 5.6 %
Australia 4.1 %
New Zealand 3.3 %
Mexico 2.4 %
Philippines 2.3 %
Singapore 2.0 %
South Korea 1.9 %
Sweden 1.5 %
Norway 1.5 %
Other countries 5.4 %
Total 100.0 %
 
Utilities Trust
United States 68.1 %
Spain 5.5 %
United Kingdom 4.6 %
Italy 3.6 %
Canada 2.4 %
Brazil 2.3 %
Portugal 1.8 %
Denmark 1.3 %
Luxembourg 1.2 %
Hong Kong 1.2 %
Other Countries 8.0 %
Total 100.0 %

306


The following funds had the following sector composition as a percentage of net assets on 3-31-15:

Emerging Markets Value Trust      
Financials 33.0 %
Materials 17.7 %
Industrials 11.9 %
Energy 11.7 %
Consumer discretionary 8.3 %
Information technology 7.9 %
Consumer staples 4.1 %
Utilities 3.0 %
Telecommunication services 1.2 %
Health care 0.4 %
Short-term investments and other 0.8 %
Total 100.0 %
 
Global Trust
Financials 23.2 %
Health care 18.3 %
Energy 12.7 %
Consumer discretionary 12.5 %
Information technology 11.1 %
Industrials 8.0 %
Telecommunication services 5.4 %
Materials 5.2 %
Consumer staples 2.7 %
Short-term investments and other 0.9 %
Total 100.0 %
 
International Core Trust
Consumer discretionary 17.9 %
Energy 17.2 %
Industrials 11.8 %
Telecommunication services 11.8 %
Health care 10.2 %
Utilities 7.2 %
Consumer staples 6.8 %
Materials 6.4 %
Information technology   5.2 %
Financials 4.6 %
Short-term investments and other 0.9 %
Total 100.0 %

307


International Equity Index Trust B
Financials 26.6 %
Consumer discretionary 11.5 %
Industrials 10.9 %
Consumer staples 9.6 %
Health care 8.7 %
Information technology 7.6 %
Materials 7.4 %
Energy       6.9 %
Telecommunication services 4.9 %
Utilities 3.2 %
Short-term investments and other 2.7 %
Total 100.0 %
 
International Growth Stock Trust
Consumer discretionary 24.3 %
Financials 19.0 %
Information technology 14.5 %
Industrials 10.1 %
Consumer staples   8.9 %
Health care 7.6 %
Energy 4.6 %
Materials 3.1 %
Utilities 0.6 %
Short-term investments and other 7.3 %
Total 100.0 %
 
International Small Company Trust
Industrials 25.4 %
Consumer discretionary 19.3 %
Financials 14.8 %
Materials 10.6 %
Information technology 10.2 %
Consumer staples 6.2 %
Health care 5.6 %
Energy 3.5 %
Utilities 2.2 %
Telecommunication services 1.6 %
Short-term investments and other 0.6 %
Total 100.0 %

308


International Value Trust
Financials 27.4 %
Energy 15.3 %
Health care 14.6 %
Information technology 9.6 %
Industrials 9.4 %
Consumer discretionary 9.2 %
Telecommunication services 5.1 %
Materials 4.3 %
Consumer staples 2.6 %
Short-term investments and other 2.5 %
Total 100.0 %

The following fund had the following portfolio composition as a percentage of total investments on 3-31-15:

Global Bond Trust      
Foreign government obligations 49.1 %
Corporate bonds 14.1 %
U.S. Government 13.7 %
Collateralized mortgage obligations 10.9 %
Certificate of deposit 1.5 %
Asset backed securities   0.9 %
U.S. Government Agency 0.3 %
Escrow shares 0.2 %
Term loans 0.1 %
Short-term investments 9.2 %
Total 100.0 %

309


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 fund uses the following valuation techniques: Equity securities, including exchange-traded and closed-end funds, held by the fund 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 fund in underlying affiliated funds and/or other open-end management investment companies 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 fund’s Pricing Committee following procedures established by the Board of Trustees. The frequency with which these fair valuation procedures are used cannot be predicted and fair value of securities may differ significantly from the value that would have been used had a ready market for such securities existed. 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 fund’s Pricing Committee, following procedures established by the Board of Trustees. The fund uses fair value adjustment factors provided by an independent pricing vendor to value certain foreign securities in order to adjust for events that may occur between the close of foreign exchanges or markets and the close of the NYSE.

The 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 fund’s own assumptions in determining the fair value of investments. Factors used in determining value may include market or issuer specific events or trends, changes in interest rates and credit quality. The inputs or methodology used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. Changes in valuation techniques may result in transfers into or out of an assigned level within the disclosure hierarchy.

As of March 31, 2015, 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, 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 Lifestyle Aggressive MVP, Lifestyle Balanced MVP, Lifestyle Conservative MVP, Lifestyle Growth MVP, and Lifestyle Moderate MVP are categorized as Level 1 under the hierarchy described above, except for commercial paper and U.S. Treasury Notes 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 Total Bond Market Trust B are categorized as Level 2 under the hierarchy described above, except for money market funds 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.

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 Core Bond Trust are categorized as Level 2 under the hierarchy described above, except for securities lending and money market funds which are categorized as Level 1.

310


The following is a summary of the values by input classification of the portfolios’ investments as of March 31, 2015, by major security category or type:

  Level 2   Level 3
                  significant       significant
Total market value Level 1 quoted observable unobservable
at 3-31-15 price inputs inputs
Active Bond Trust              
U.S. Government and Agency obligations $198,251,381 — $198,251,381 —
Foreign government obligations 4,686,379 — 4,686,379 —
Corporate bonds 350,101,517 — 350,079,713 $21,804
Capital preferred securities 10,243,527 — 10,243,527 —
Term loans 2,344,941 — 2,344,941 —
Municipal bonds 2,836,360 — 2,836,360 —
Collateralized mortgage obligations 170,880,014 — 169,820,050 1,059,964
Asset backed securities 73,593,228 — 73,593,228 —
Preferred securities 5,758,220 $4,191,738 1,565,880 602
Securities lending collateral 3,385,772 3,385,772 — —
Short-term investments 22,942,381 21,544,381 1,398,000 —
Total investments in securities $845,023,720 $29,121,891 $814,819,459 $1,082,370
 
Level 2 Level 3
significant significant
      Total market value       Level 1 quoted       observable       unobservable
at 3-31-15 price inputs inputs
Alpha Opportunities Trust                
Common stocks
Consumer discretionary $110,776,606 $98,341,525 $12,339,363 $95,718
Consumer staples 36,083,549 29,170,184 6,913,365 —
Energy 40,667,503 35,287,347 5,380,156 —
Financials 103,096,417 90,811,531 12,242,359 42,527
Health care 133,710,695 119,223,774 14,486,921 —
Industrials 102,227,285 89,899,366 12,327,919 —
Information technology 151,979,788 137,711,344 14,268,444 —
Materials 41,375,874 35,677,185 5,698,689 —
Telecommunication services 4,342,999 2,952,133 1,390,866 —
Utilities 7,890,313 6,970,559 919,754 —
Preferred securities 13,306,291 — 363,718 12,942,573
Warrants 813,471 — 813,471 —
Securities lending collateral 29,390,907 29,390,907 — —
Short-term investments 13,100,000 — 13,100,000 —
Total investments in securities       $788,761,698       $675,435,855       $100,245,025       $13,080,818

311


                  Level 2       Level 3
significant significant
Total market value Level 1 quoted observable unobservable
at 3-31-15 price inputs inputs
Blue Chip Growth Trust
Common stocks  
Consumer discretionary $420,631,671 $418,761,868   $1,869,803 —
Consumer staples 48,320,575 48,320,575 — —
Energy   30,975,641 30,975,641 — —
Financials 117,966,353 117,966,353 — —
Health care 433,336,279 433,336,279 — —
Industrials 230,458,372 230,458,372 — —
Information technology 428,647,775 405,808,769 22,839,006 —
Materials 64,897,590 64,897,590 — —
Telecommunication services 250,429 — 250,429 —
Securities lending collateral 6,619,461 6,619,461 — —
Short-term investments 10,353,336 10,353,336 — —
Total investments in securities $1,792,457,482 $1,767,498,244 $24,959,238 —
 
                  Level 2       Level 3
significant significant
Total market value Level 1 quoted observable unobservable
at 3-31-15 price inputs inputs
Bond Trust
U.S. Government and Agency obligations $5,641,856,023 — $5,641,856,023 —
Corporate bonds 3,600,068,517 — 3,600,068,517 —
Capital preferred securities 73,941,906 — 73,941,906 —
Collateralized mortgage obligations 208,321,393 — 200,266,393 $8,055,000
Asset backed securities 768,488,796 — 768,488,796 —
Preferred securities 11,272,320 $11,272,320 — —
Securities lending collateral 72,541,005 72,541,005 — —
Short-term investments 76,806,000 — 76,806,000 —
Total investments in securities $10,453,295,960 $83,813,325 $10,361,427,635 $8,055,000

312


Level 2 Level 3
significant significant
Total market value Level 1 quoted observable unobservable
      at 3-31-15       price       inputs       inputs
Capital Appreciation Trust
Common stocks
Consumer discretionary $261,455,920 $232,868,346 $28,587,574 —
Consumer staples 47,161,030 47,161,030 — —
Energy 32,815,826 32,815,826 — —
Financials 33,747,125 33,747,125 — —
Health care 203,344,939 203,344,939 —   —
Industrials 44,603,066 44,603,066 — —
Information technology 378,803,126 362,413,301 16,389,825 —
Materials 20,132,415 20,132,415 — —
Securities lending collateral 29,117,586 29,117,586 — —
Short-term investments 5,086,000 — 5,086,000 —
Total investments in securities $1,056,267,033 $1,006,203,634 $50,063,399 —
   
Level 2 Level 3
significant significant
      Total market value       Level 1 quoted       observable       unobservable
at 3-31-15 price inputs inputs
Capital Appreciation Value Trust
Common stocks
Consumer discretionary $28,874,211 $28,874,211   — —
Consumer staples 10,518,008 9,939,713 $578,295 —
Energy   7,848,859   7,848,859 — —
Financials 35,236,930 34,162,878 1,074,052 —
Health care 52,786,345 52,786,345 — —
Industrials 44,229,561 44,229,561 — —
Information technology 27,634,904 27,634,904 — —
Materials 2,877,600 2,877,600 — —
Telecommunication services 1,112,450 1,112,450 — —
Utilities 9,294,351 9,294,351 — —
Preferred securities 9,520,406 9,520,406 — —
U.S. Government and Agency obligations 5,442,177 — 5,442,177 —
Corporate bonds 73,052,814 — 73,052,814 —
Convertible bonds 320,691 — 320,691 —
Term loans 17,081,807 — 17,081,807 —
Asset backed securities 1,932,330 — 1,932,330 —
Short-term investments 42,853,877 41,834,877 1,019,000 —
Total investments in securities $370,617,321 $270,116,155 $100,501,166 —
Other financial instruments:
Futures $28,060 $28,060 — —
Forward foreign currency contracts $12,251 — $12,251 —
Written options ($1,475,466) ($187,989) ($1,287,477) —

313


                  Level 2       Level 3
significant significant
Total market value Level 1 quoted observable unobservable
at 3-31-15 price inputs inputs
Core Strategy Trust
Common stocks $3,043 — $1,618 $1,425
Investment companies 3,966,334,653 $3,966,334,653 —   —
Total investments in securities $3,966,337,696 $3,966,334,653 $1,618 $1,425
 
Level 2 Level 3
significant significant
Total market value Level 1 quoted observable unobservable
at 3-31-15 price inputs inputs
Emerging Markets Value Trust    
Common stocks
Australia $299,482 — $299,482 —
Brazil 39,923,517   $39,923,517 — —
Chile 17,239,829 7,026,884 10,212,945 —
China 94,189,376 12,178,528 81,825,524 $185,324
Colombia 2,086,299 2,086,299 — —
Czech Republic 3,858,221 — 3,858,221 —
Greece 1,136,557 — 1,136,557 —
Hong Kong 30,375,184 2,317,399 27,665,336 392,449
Hungary 1,297,583 — 1,297,583 —
India 80,521,899 2,633,338 77,865,164 23,397
Indonesia 27,521,296 — 27,521,296 —
Malaysia 37,177,140 — 37,177,140 —
Mexico 47,410,316 47,333,111 9,067 68,138
Philippines 12,804,010 — 12,803,878   132
Poland 18,383,709 — 18,383,709 —
Russia 18,741,047 — 18,741,047 —
South Africa 76,226,832 12,110,310 64,098,877 17,645
South Korea 124,246,374 31,410,954 92,789,795 45,625
Spain 699,019 699,019 — —
Taiwan 131,289,252 4,315,739 126,941,756 31,757
Thailand 26,834,254 25,769,074 1,065,180 —
Turkey 14,140,570 — 14,136,138 4,432
Ukraine 252,292 — 252,292 —
Preferred securities 14,797,037 14,797,037 — —
Rights 9,360 9,360 — —
Warrants 1,920 — 1,920 —
Securities lending collateral 24,079,640 24,079,640 — —
Short-term investments 2,876,391 2,876,391 — —
Total investments in securities $848,418,406 $229,566,600 $618,082,907 $768,899

314


                  Level 2       Level 3
significant significant
Total market value Level 1 quoted observable unobservable
at 3-31-15 price inputs inputs
Equity-Income Trust  
Common stocks
Consumer discretionary $246,147,491 $241,089,517 $5,057,974 —
Consumer staples 85,084,654 85,084,654 — —
Energy 229,334,276 229,334,276 — —
Financials   375,158,346 375,158,346   — —
Health care 132,313,512 122,527,161 9,786,351 —
Industrials 262,451,434 262,451,434 — —
Information technology 212,531,470 193,556,022 — $18,975,448
Materials 104,435,067 104,435,067 — —
Telecommunication services 68,598,974 56,609,573 11,989,401 —
Utilities 122,825,158 122,825,158 — —
Rights 94,347 94,347 — —
Securities lending collateral 23,208,925 23,208,925 — —
Short-term investments 85,608,910 85,608,910 — —
Total investments in securities $1,947,792,564 $1,901,983,390 $26,833,726 $18,975,448

315


Level 2 Level 3
significant significant
Total market value Level 1 quoted observable unobservable
at 3-31-15 price inputs inputs
Financial Industries Trust
Common stocks
Financials $163,842,080 $145,669,907 $14,560,057 $3,612,116
Information technology 2,077,160 2,077,160 — —
Warrants 771,543 771,543 — —
Short-term investments 1,521,000 — 1,521,000 —
Total investments in securities $168,211,783 $148,518,610 $16,081,057 $3,612,116
 
                  Level 2       Level 3
significant significant
Total market value Level 1 quoted observable unobservable
  at 3-31-15 price inputs   inputs
Fundamental All Cap Core Trust
Common stocks  
Consumer discretionary $484,103,419 $435,789,827 $48,313,592 —
Consumer staples 36,305,096 13,411,699 22,893,397 —
Energy 103,258,461 103,258,461 — —
Financials 459,654,123   459,654,123 — —
Health care 64,700,056 64,700,056 — —
Industrials 123,361,400 123,361,400 — —
Information technology 331,436,725 331,436,725 — —
Materials 70,593,254 70,593,254 — —
Short-term investments 6,167,000 — 6,167,000 —
Total investments in securities $1,679,579,534 $1,602,205,545 $77,373,989 —

316


Level 2 Level 3
significant significant
      Total market value       Level 1 quoted       observable       unobservable
at 3-31-15 price inputs inputs
Fundamental Large Cap Value Trust                
Common stocks
Consumer discretionary $244,572,477 $196,881,748 $47,690,729 —
Consumer staples 176,680,692 88,835,891 87,844,801 —
Energy 172,628,327 172,628,327 — —
Financials 589,254,624 589,254,624 — —
Health care 112,418,517 112,418,517 — —
Industrials 157,841,101 157,841,101 — —
Information technology 210,437,335 170,343,022 40,094,313 —
Materials 66,796,290 66,796,290 — —
Short-term investments 9,469,000 — 9,469,000 —
Total investments in securities $1,740,098,363 $1,554,999,520 $185,098,843 —
                 
Level 2 Level 3
significant significant
      Total market value       Level 1 quoted       observable       unobservable
at 3-31-15 price inputs inputs
Global Bond Trust
U.S. Government and Agency obligations $106,328,833 — $106,328,833 —
Foreign government obligations 373,701,110 — 373,701,110 —
Corporate bonds 107,138,614 — 107,138,614 —
Municipal bonds 325,328 — 325,328 —
Collateralized mortgage obligations 82,567,907 — 82,567,907 —
Asset backed securities 6,753,564 — 6,753,564 —
Term loans 512,102 — 512,102 —
Common stocks 53,067 $53,067 — —
Preferred securities 236,670 236,670 — —
Escrow shares 1,530,500 — 1,530,500 —
Purchased options 61,330 — 61,330 —
Certificate of deposit 11,314,987 — 11,314,987 —
Short-term investments 70,044,661 — 70,044,661 —
Total investments in securities $760,568,673 $289,737 $760,278,936 —
Sale commitments outstanding ($121,244,264) — ($121,244,264) —
Other financial instruments:
Futures $1,656,007 $1,656,007 — —
Forward foreign currency contracts $9,315,932 — $9,315,932 —
Written options ($540,200) — ($540,200) —
Interest rate swaps ($6,216,457) — ($6,216,457) —
Currency swaps $590,126 — $590,126 —
Credit default swaps ($1,586,963) — ($1,586,963) —
Volatility swaps $570 — $570 —

317


Level 2 Level 3
significant significant
      Total market value       Level 1 quoted       observable       unobservable
at 3-31-15 price inputs inputs
Global Trust
Common stocks
Brazil $4,696,973 $4,696,973 — —
Canada 11,869,285 11,869,285 — —
China 9,277,489 4,107,466 $5,170,023 —
Denmark 4,389,117 — 4,389,117 —
France 65,038,835 — 65,038,835 —
Germany 38,228,797 — 38,228,797 —
Hong Kong 9,539,007 — 9,539,007 —
Ireland 28,712,124 14,784,564 13,927,560 —
Israel 16,790,473 16,790,473 — —
Italy 15,451,821 — 15,451,821 —
Japan 21,656,054 — 21,656,054 —
Netherlands 41,384,798 — 41,384,798 —
Portugal 6,652,680 — 6,652,680 —
Russia 7,282,067 — 7,282,067 —
Singapore 13,432,309 — 13,432,309 —
South Korea 32,223,117 8,348,842 23,874,275 —
Spain 9,305,521 — 9,305,521 —
Sweden 13,458,492 — 13,458,492 —
Switzerland 29,718,716 — 29,718,716 —
Thailand 1,669,727 — 1,669,727 —
Turkey 8,335,552 8,335,552 — —
United Kingdom 76,259,258 8,253,402 68,005,856 —
United States 227,198,967 227,198,967 — —
Rights 682,649 — 682,649 —
Securities lending collateral 28,724,013 28,724,013 — —
Short-term investments 1,999,999 — 1,999,999 —
Total investments in securities $723,977,840 $333,109,537 $390,868,303 —

318


Level 2 Level 3
significant significant
      Total market value       Level 1 quoted       observable       unobservable
at 3-31-15 price inputs inputs
Health Sciences Trust
Common stocks
Consumer staples $8,506,753 $7,272,597 $1,234,156 —
Health care 349,173,746 337,697,297 11,468,361 $8,088
Industrials 9,434,970 9,434,970 — —
Information technology 4,251,398 4,251,398 — —
Preferred securities
Health care 1,509,453 1,369,283 — 140,170
Information technology 152,390 — — 152,390
Rights 15,050 15,050 — —
Warrants 758 — 758 —
Short-term investments 16,763,996 16,763,996 — —
Total investments in securities $389,808,514 $376,804,591 $12,703,275 $300,648
Other financial instruments:
Written options ($379,905) ($379,905) — —

319


Level 2 Level 3
significant significant
      Total market value       Level 1 quoted       observable       unobservable
at 3-31-15 price inputs inputs
High Yield Trust
Foreign government obligations $945,324 — $945,324 —
Corporate bonds 261,212,502 — 259,705,139 $1,507,363
Capital preferred securities 942,500 — 942,500 —
Convertible bonds 787,582 — 787,582 —
Term loans 11,055,355 — 11,055,355 —
Asset backed securities 950,507 — 221,188 729,319
Common stocks 6,689,574 $3,763,235 216,260 2,710,079
Preferred securities 2,895,309 2,634,765 260,544 —
Escrow certificates 45,570 — 45,570 —
Securities lending collateral 8,163,193 8,163,193 — —
Short-term investments 1,181,367 1,079,007 102,360 —
Total investments in securities $294,868,783 $15,640,200 $274,281,822 $4,946,761
Other financial instruments:
Futures ($145,893) ($145,893) — —
Forward foreign currency contracts $188,095 — $188,095 —
Interest rate swaps $8,136 — $8,136 —
Credit default swaps ($480,597) — ($480,597) —

Level 2 Level 3
significant significant
      Total market value       Level 1 quoted       observable       unobservable
at 3-31-15 price inputs inputs
Income Trust
Corporate bonds $143,841,465 — $143,841,465 —
Convertible bonds 7,357,162 — 7,357,162 —
Term loans 7,801,407 — 7,801,407 —
Common stocks 196,367,275 $187,519,744 8,039,105 $808,426
Preferred securities 19,960,488 16,497,038 2,658,063 805,387
Warrants 45,559 45,559 — —
Escrow certificates 850 — — 850
Equity linked securities 13,342,266 3,099,950 10,242,316 —
Securities lending collateral 22,629,198 22,629,198 — —
Short-term investments 9,000,000 — 9,000,000 —
Total investments in securities $420,345,670 $229,791,489 $188,939,518 $1,614,663

320


Level 2 Level 3
significant significant
      Total market value       Level 1 quoted       observable       unobservable
at 3-31-15 price inputs inputs
International Core Trust
Common stocks
Australia $1,073,231 — $1,073,231 —
Austria 2,785,347 — 2,785,347 —
Belgium 7,702,667 — 7,702,667 —
Bermuda 213,521 — 213,521 —
Canada 3,775,368 $3,775,368 — —
Denmark 8,526,537 — 8,526,537 —
Finland 6,920,081 — 6,920,081 —
France 118,993,474 — 118,993,474 —
Germany 78,199,798 — 78,199,798 —
Hong Kong 8,331,771 — 8,331,771 —
Ireland 3,832,847 — 3,832,847 —
Israel 6,214,451 4,139,485 2,074,966 —
Italy 31,010,867 — 31,010,867 —
Japan 166,592,163 — 166,592,163 —
Luxembourg 1,107,488 — 1,107,488 —
Netherlands 47,407,815 — 47,407,815 —
New Zealand 220,193 — 220,193 —
Norway 11,853,534 — 11,853,534 —
Portugal 2,783,287 — 2,783,287 —
Singapore 1,182,442 — 1,182,442 —
Spain 32,008,852 — 32,008,852 —
Sweden 14,638,205 — 14,638,205 —
Switzerland 14,548,513 — 14,548,513 —
United Kingdom 130,024,081 — 130,024,081 —
United States 14,027,896 14,027,896 — —
Preferred securities 13,197,009 — 13,197,009 —
Rights 173,237 — 173,237 —
Securities lending collateral 27,588,736 27,588,736 — —
Short-term investments 3,025,984 3,025,984 — —
Total investments in securities $757,959,395 $52,557,469 $705,401,926 —

321


Level 2 Level 3
significant significant
      Total market value       Level 1 quoted       observable       unobservable
at 3-31-15 price inputs inputs
International Equity Index Trust B
Common stocks
Australia $34,364,741 — $34,364,741 —
Austria 849,510 — 849,510 —
Belgium 6,136,911 — 6,136,911 —
Bermuda 127,691 — 127,691 —
Brazil 6,291,096 $6,291,096 — —
Canada 40,921,424 40,921,424 — —
Chile 1,598,330 1,452,859 145,471 —
China 23,460,501 — 23,340,305 $120,196
Colombia 850,092 850,092 — —
Czech Republic 334,152 — 334,152 —
Denmark 7,548,883 — 7,548,883 —
Egypt 89,967 — 89,967 —
Finland 4,137,318 — 4,137,318 —
France 43,715,851 — 43,715,851 —
Germany 40,024,094 — 40,024,094 —
Greece 318,762 — 318,762 —
Guernsey, Channel Islands 299,378 — 299,378 —
Hong Kong 20,913,052 — 20,913,052 —
Hungary 237,620 — 237,620 —
India 9,048,222 7,045,123 2,003,099 —
Indonesia 3,696,383 7,794 3,688,589 —
Ireland 3,921,264 128,265 3,792,999 —
Israel 2,797,132 — 2,797,132 —
Italy 9,516,638 — 9,516,638 —
Japan 101,726,721 — 101,726,721 —
Jersey, Channel Islands 239,923 — 239,923 —
Luxembourg 1,551,976 — 1,551,976 —
Macau 567,405 — 567,405 —
Malaysia 4,633,217 — 4,633,217 —
Mexico 6,354,171 6,278,389 75,782 —
Netherlands 16,076,101 — 16,076,101 —
New Zealand 357,371 — 357,371 —
Norway 2,650,906 — 2,650,906 —
Peru 465,157 465,157 — —
Philippines 1,284,718 — 1,284,718 —
Poland 1,848,075 — 1,848,075 —
Portugal 485,508 — 485,508 —

322


Russia       5,039,006       3,100,567       1,938,439       —
Singapore 6,549,972 — 6,549,972 —
South Africa 10,622,716 — 10,621,380 1,336
South Korea 18,974,992 232,729 18,742,263 —
Spain 15,410,723 — 15,410,723 —
Sweden 14,010,834 — 14,010,834 —
Switzerland 44,622,158 — 44,622,158 —
Taiwan 14,243,469 — 14,243,469 —
Thailand 2,923,251 2,923,251 — —
Turkey 2,029,394 — 2,029,394 —
United Kingdom 80,900,036 178,022 80,722,014 —
United States 3,740,113 3,410,623 329,490 —
Preferred securities
Brazil 3,838,316 3,838,316 — —
Germany 3,041,517 — 3,041,517 —
South Korea 916,180 — 916,180 —
Rights 181,712 — 181,712 —
Securities lending collateral 21,515,763 21,515,763 — —
Short-term investments 7,751,026 7,751,026 — —
Total investments in securities $655,751,439 $106,390,496 $549,239,411 121,532

323


Level 2 Level 3
significant significant
      Total market value       Level 1 quoted       observable       unobservable
at 3-31-15 price inputs inputs
International Growth Stock Trust
Common stocks
Australia $17,510,942 — $17,510,942 —
Belgium 6,101,160 — 6,101,160 —
Brazil 19,286,338 $19,286,338 — —
Canada 36,571,939 36,571,939 — —
China 25,199,236 8,984,124 16,215,112 —
Denmark 12,871,677 — 12,871,677 —
France 15,864,493 — 15,864,493 —
Germany 39,004,871 — 39,004,871 —
Hong Kong 17,430,599 — 17,430,599 —
Israel 12,740,475 12,740,475 — —
Japan 37,116,900 — 37,116,900 —
Mexico 9,940,317 9,940,317 — —
Netherlands 5,840,939 — 5,840,939 —
Singapore 21,445,948 8,829,554 12,616,394 —
South Korea 8,610,442 — 8,610,442 —
Spain 5,546,927 — 5,546,927 —
Sweden 14,014,039 — 14,014,039 —
Switzerland 42,758,309 — 42,758,309 —
Taiwan 7,872,969 — 7,872,969 —
Thailand 9,079,698 — 9,079,698 —
Turkey 4,853,857 — 4,853,857 —
United Kingdom 92,141,323 — 92,141,323 —
Short-term investments 29,824,973 29,824,973 — —
Total investments in securities $491,628,371 $126,177,720 $365,450,651 —

324


Level 2 Level 3
significant significant
      Total market value       Level 1 quoted       observable       unobservable
at 3-31-15 price inputs inputs
International Small Company Trust
Common stocks
Australia $6,239,881 $40,340 $6,153,144 $46,397
Austria 1,190,345 — 1,190,345 —
Bahamas 10,287 — 10,287 —
Belgium 1,529,686 — 1,529,686 —
Bermuda 602,966 — 602,966 —
Cambodia 69,052 — 69,052 —
Canada 8,156,272 8,061,736 93,958 578
Cayman Islands 14,825 14,825 — —
China 46,469 14,607 31,862 —
Cyprus 31,387 — 31,387 —
Denmark 2,200,100 — 2,200,100 —
Faroe Islands 47,139 — 47,139 —
Finland 2,619,202 — 2,619,202 —
France 4,133,913 — 4,133,913 —
Gabon 6,183 — 6,183 —
Georgia 6,464 — 6,464 —
Germany 5,820,794 — 5,820,794 —
Gibraltar 82,680 — 82,680 —
Greece 146 — — 146
Guernsey, Channel Islands 5,429 565 4,864 —
Hong Kong 3,451,257 — 3,434,404 16,853
India 19,735 — 19,735 —
Ireland 1,691,852 — 1,691,852 —
Isle of Man 20,339 — 20,339 —
Israel 735,693 21,168 714,525 —
Italy 4,535,367 — 4,527,179 8,188
Japan 24,469,437 — 24,469,437 —
Jersey, Channel Islands 143,504 — 143,504 —
Liechtenstein 85,535 — 85,535 —
Luxembourg 496,872 — 496,872 —
Malta 74,707 — 74,707 —
Mongolia 12,456 — 12,456 —
Netherlands 2,097,542 — 2,097,542 —
New Zealand 1,341,393 — 1,341,393 —
Norway 898,418 — 898,418 —
Peru 15,803 — 15,803 —
Portugal 620,587 — 620,587 —
Singapore 1,032,162 — 1,032,162 —
South Africa 8,539 — 8,539 —
Spain 2,194,285 — 2,194,285 —
Sweden 3,376,818 — 3,376,818 —
Switzerland 5,061,993 45,644 5,016,349 —
United Arab Emirates 58,541 — 58,541 —
United Kingdom 21,792,319 7,873 21,783,606 840
United States 308,895 91,407 217,488 —
Rights 21,539 — 19,744 1,795
Securities lending collateral 2,085,333 2,085,333 — —
Short-term investments 192,785 192,785 — —
Total investments in securities $109,656,926 $10,576,283 $99,005,846 $74,797

325


Level 2 Level 3
significant significant
      Total market value       Level 1 quoted       observable       unobservable
at 3-31-15 price inputs inputs
International Value Trust
Common stocks
Belgium $5,241,792 — $5,241,792 —
Brazil 8,183,728 $8,183,728 — —
Canada 45,841,018 45,841,018 — —
China 68,070,912 16,172,539 51,898,373 —
Denmark 4,342,475 — 4,342,475 —
France 105,047,464 — 105,047,464 —
Germany 83,912,221 — 83,912,221 —
Hong Kong 45,168,192 — 45,168,192 —
India 6,355,722 — 6,355,722 —
Ireland 9,373,140 — 9,373,140 —
Israel 18,744,513 18,744,513 — —
Italy 27,044,714 — 27,044,714 —
Japan 57,585,231 — 57,585,231 —
Netherlands 74,863,817 — 74,863,817 —
Norway 8,127,751 — 8,127,751 —
Russia 3,154,381 3,154,381 — —
Singapore 6,803,763 — 6,803,763 —
South Korea 142,265,111 26,578,772 115,686,339 —
Spain 9,998,453 — 9,998,453 —
Sweden 6,676,367 — 6,676,367 —
Switzerland 77,389,418 — 77,389,418 —
Thailand 4,769,514 — 4,769,514 —
United Arab Emirates 4,587,772 — 4,587,772 —
United Kingdom 185,462,948 7,590,434 177,872,514 —
United States 11,441,271 11,441,271 — —
Rights 442,707 — 442,707 —
Securities lending collateral 41,793,255 41,793,255 — —
Short-term investments 11,999,997 — 11,999,997 —
Total investments in securities $1,074,687,647 $179,499,911 $895,187,736 —

326


Level 2 Level 3
significant significant
      Total market value       Level 1 quoted       observable       unobservable
at 3-31-15 price inputs inputs
Investment Quality Bond Trust
U.S. Government and Agency obligations $120,274,564 — $120,274,564 —
Foreign government obligations 7,134,862 — 7,134,862 —
Corporate bonds 117,952,507 — 117,952,507 —
Capital preferred securities 793,135 — 793,135 —
Municipal bonds 5,885,587 — 5,885,587 —
Term loans 11,446,358 — 11,446,358 —
Collateralized mortgage obligations 40,652,894 — 40,169,640 $483,254
Asset backed securities 27,348,416 — 24,549,408 2,799,008
Preferred securities 609,960 $609,960 — —
Purchased options 1,399 — 1,399 —
Securities lending collateral 132,010 132,010 — —
Short-term investments 92,495,934 — 92,495,934 —
Total investments in securities $424,727,626 $741,970 $420,703,394 $3,282,262
Other financial instruments:
Futures $466,048 $466,048 — —
Forward foreign currency contracts $55,172 — $55,172 —
Interest rate swaps ($1,974,693) — ($1,974,693) —
Credit default swaps $231,418 — $231,418 —

Level 2 Level 3
significant significant
      Total market value       Level 1 quoted       observable       unobservable
at 3-31-15 price inputs inputs
Mid Cap Stock Trust
Common stocks
Consumer discretionary $167,822,405 $156,400,691 $10,710,447 $711,267
Consumer staples 24,817,463 24,817,463 — —
Energy 15,370,384 15,370,384 — —
Financials 56,954,674 43,854,062 12,797,594 303,018
Health care 150,807,681 129,891,530 20,916,151 —
Industrials 142,165,054 142,165,054 — —
Information technology 200,846,700 192,568,141 8,278,559 —
Materials 26,295,967 26,295,967 — —
Preferred securities 66,436,562 — — 66,436,562
Warrants 152,037 152,037 — —
Securities lending collateral 73,535,673 73,535,673 — —
Total investments in securities $925,204,600 $805,051,002 $52,702,751 $67,450,847

327


Level 2 Level 3
significant significant
      Total market value       Level 1 quoted       observable       unobservable
at 3-31-15 price inputs inputs
Mid Value Trust
Common stocks
Consumer discretionary $94,629,363 $92,778,950 $1,850,413 —
Consumer staples 73,240,062 69,711,015 3,529,047 —
Energy 58,852,318 58,852,318 — —
Financials 251,210,387 250,284,540 925,847 —
Health care 104,242,069 104,242,069 — —
Industrials 90,355,863 90,355,863 — —
Information technology 33,736,399 33,736,399 — —
Materials 70,270,265 68,214,122 2,056,143 —
Telecommunication services 6,562,046 6,562,046 — —
Utilities 49,591,245 49,591,245 — —
Convertible bonds 3,283,020 — 3,283,020 —
Securities lending collateral 22,715,820 22,715,820 — —
Short-term investments 63,279,419 63,279,419 — —
Total investments in securities $921,968,276 $910,323,806 $11,644,470 —

328


Level 2 Level 3
significant significant
      Total market value       Level 1 quoted       observable       unobservable
at 3-31-15 price inputs inputs
Mutual Shares Trust
Common stocks
Consumer discretionary $54,948,378 $44,101,680 $10,846,698 —
Consumer staples 63,459,474 48,148,521 15,310,953 —
Energy 48,511,951 33,836,406 14,675,545 —
Financials 127,869,038 114,172,445 13,696,593 —
Health care 79,054,115 79,054,115 — —
Industrials 26,772,295 18,276,384 8,495,911 —
Information technology 68,453,316 64,088,445 4,364,871 —
Materials 22,263,738 17,854,965 4,408,773 —
Telecommunication services 10,851,054 — 10,851,054 —
Utilities 4,277,111 4,277,111 — —
Corporate bonds 16,800,709 — 16,800,709 —
Term loans 23,470,129 — 23,470,129 —
Municipal bonds 1,680,339 — 1,680,339 —
Preferred securities 4,485,103 — 4,485,103 —
Securities lending collateral 9,510,203 9,510,203 — —
Short-term investments 27,495,921 — 27,495,921 —
Total investments in securities $589,902,874 $433,320,275 $156,582,599 —
Other financial instruments:
Forward foreign currency contracts $3,892,094 — $3,892,094 —

Level 2 Level 3
significant significant
      Total market value       Level 1 quoted       observable       unobservable
at 3-31-15 price inputs inputs
Real Return Bond Trust
U.S. Government and Agency obligations $86,119,519 — $86,119,519 —
Foreign government obligations 12,967,487 — 12,967,487 —
Corporate bonds 6,703,844 — 6,703,844 —
Collateralized mortgage obligations 4,644,025 — 4,644,025 —
Asset backed securities 2,552,103 — 2,552,103 —
Common stocks 4,620 $4,620 — —
Purchased options 117,979 242 117,737 —
Certificate of deposit 3,498,882 — 3,498,882 —
Short-term investments 41,642,988 — 41,642,988 —
Total investments in securities $158,251,447 $4,862 $158,246,585 —
Other financial instruments:
Futures ($18,490) ($18,490) — —
Forward foreign currency contracts $736,249 — $736,249 —
Written options ($311,337) — ($311,337) —
Interest rate swaps ($850,058) — ($850,058) —
Credit default swaps ($32,832) — ($32,832) —
Inflation swaps ($475,082) — ($475,082) —
Volatility swaps $1,281 — $1,281 —

329


Level 2 Level 3
significant significant
      Total market value       Level 1 quoted       observable       unobservable
at 3-31-15 price inputs inputs
Science & Technology Trust
Common stocks
Consumer discretionary $74,478,706 $74,422,958 — $55,748
Health care 15,187,466 15,187,466 — —
Industrials 5,513,426 2,851,520 $2,661,906 —
Information technology 368,002,282 336,527,871 23,620,750 7,853,661
Telecommunication services 16,337,685 5,691,524 10,646,161 —
Preferred securities 2,889,898 — — 2,889,898
Securities lending collateral 18,170,475 18,170,475 — —
Short-term investments 19,539,549 15,112,549 4,427,000 —
Total investments in securities $520,119,487 $467,964,363 $41,355,817 $10,799,307

Level 2 Level 3
significant significant
      Total market value       Level 1 quoted       observable       unobservable
at 3-31-15 price inputs inputs
Small Cap Growth Trust
Common stocks
Consumer discretionary $61,847,512 $58,276,296 $3,571,216 —
Consumer staples 2,865,223 2,865,223 — —
Energy 9,440,432 9,440,432 — —
Financials 40,570,441 40,570,441 — —
Health care 108,718,267 108,718,267 — —
Industrials 104,776,469 104,776,469 — —
Information technology 127,831,588 127,225,321 — $606,267
Materials 29,905,265 29,905,265 — —
Investment companies 3,349,710 3,349,710 — —
Preferred securities 14,265,039 — — 14,265,039
Securities lending collateral 65,643,240 65,643,240 — —
Total investments in securities $569,213,186 $550,770,664 $3,571,216 $14,871,306

330


Level 2 Level 3
significant significant
Total market value Level 1 quoted observable unobservable
      at 3-31-15       price       inputs       inputs
Small Cap Index Trust                
Common stocks
Consumer discretionary $62,619,262 $62,619,262 — —
Consumer staples 14,139,018 14,139,018 —   —
Energy 15,032,614 15,032,614 — —
Financials 106,097,574   106,097,574   — —
Health care 69,618,725 69,594,577 — $24,148
Industrials 61,515,607 61,515,607 — —
Information technology 80,169,645 80,169,645 — —
Materials 19,596,707 19,596,707 — —
Telecommunication services   3,435,243 3,399,399 — 35,844
Utilities 15,607,045 15,607,045 — —
Warrants 1,127 — $1,127 —
Securities lending collateral 30,984,474 30,984,474 — —
Short-term investments 11,240,000 — 11,240,000 —
Total investments in securities $490,057,041 $478,755,922 $11,241,127 $59,992
Other financial instruments:
Futures $386,909 $386,909 — —

331


Level 2 Level 3
significant significant
      Total market value       Level 1 quoted       observable       unobservable
  at 3-31-15 price   inputs inputs
Small Cap Opportunities Trust  
Common stocks    
Consumer discretionary $39,077,853 $39,077,853 — —
Consumer staples 6,573,266 6,573,266 — —
Energy 15,458,754 15,458,754 — —
Financials 64,966,842 64,966,842 — —
Health care 29,606,572 29,596,706 — 9,866
Industrials 51,517,809 51,517,809 — —
Information technology 47,787,540 47,787,540 — —
Materials 20,012,813 20,012,813 — —
Telecommunication services 4,010,091 3,989,797 — 20,294
Utilities 1,780,623 1,780,623 — —
Securities lending collateral 7,358,034 7,358,034 — —
Short-term investments 2,358,611 2,358,611 — —
Total investments in securities $290,508,808 $290,478,648 — $30,160

Level 2 Level 3
significant significant
Total market value Level 1 quoted observable unobservable
      at 3-31-15       price       inputs       inputs
Small Cap Value Trust
Common stocks
Consumer discretionary $62,456,180 $62,456,180   — —
Consumer staples   34,854,496 18,941,927 $15,912,569 —
Energy 44,692,489 44,692,489 — —
Financials 132,873,782 132,873,782 —   —
Health care 93,990,634   93,990,634 — —
Industrials 174,084,829 174,084,829 — —
Information technology 85,810,305 85,810,305 — —
Materials 52,144,860 52,144,860 — —
Utilities 21,401,082 21,401,082 — —
Securities lending collateral 4,677,150 4,677,150 — —
Short-term investments 23,400,000 — 23,400,000 —
Total investments in securities $730,385,807 $691,073,238 $39,312,569 —

332


Level 2 Level 3
significant significant
Total market value Level 1 quoted observable unobservable
      at 3-31-15       price       inputs       inputs
Strategic Equity Allocation Trust
Common stocks
Consumer discretionary $1,373,897,243 $960,192,004 $413,705,239 —
Consumer staples 1,013,522,131 656,091,448 357,430,683   —
Energy 722,980,979 555,137,221 167,843,758 —
Financials 2,154,306,038 1,301,722,676 852,583,362 —
Health care 1,453,032,504 1,077,795,058   375,214,460 $22,986
Industrials 1,248,924,477 834,084,323 414,840,154 —
Information technology 1,608,923,496 1,448,020,480 160,903,016 —
Materials 518,689,981 274,975,710 243,714,271 —
Telecommunication services 302,234,980 148,453,308 153,739,676 41,996
Utilities   358,629,663 241,363,234 117,266,429 —
Preferred securities 21,223,865   — 21,223,865 —
Rights 719,357 719,357 — —
Warrants 93,404 93,404 — —
Securities lending collateral 157,146,721 157,146,721 — —
Short-term investments 255,855,000 — 255,855,000 —
Total investments in securities $11,190,179,839 $7,655,794,944 $3,534,319,913 $64,982
Other financial instruments:
Futures ($573,580) ($573,580) — —

Level 2 Level 3
significant significant
      Total market value       Level 1 quoted       observable       unobservable
at 3-31-15 price inputs inputs
Strategic Income Opportunities Trust  
Foreign government obligations $106,486,577 — $106,486,577   —
Corporate bonds 231,014,940   — 230,514,940 $500,000
Capital preferred securities 2,117,150 —   2,117,150 —
Convertible bonds 10,233,041 — 10,233,041 —
Term loans 59,004,011 — 59,004,011 —
Collateralized mortgage obligations 34,024,128 — 33,686,366 337,762
Asset backed securities 10,699,631 — 10,699,631 —
Common stocks 21,755,380 $21,755,380 — —
Preferred securities 47,089,771 44,246,936 2,842,835 —
Escrow certificates 12,381 — — 12,381
Purchased options 976,808 — 976,808 —
Short-term investments 6,680,614 — 6,680,614 —
Total Investments in Securities $530,094,432 $66,002,316 $463,241,973 $850,143
Other financial instruments:
Forward foreign currency contracts $3,500,364 — $3,500,364 —

333


Level 2 Level 3
significant significant
      Total market value       Level 1 quoted       observable       unobservable
at 3-31-15 price inputs inputs
Total Return Trust
U.S. Government and Agency obligations $800,825,412   — $800,825,412 —
Foreign government obligations 50,800,025 — 50,800,025 —
Corporate bonds 260,235,641 — 259,211,388 $1,024,253
Capital preferred securities 4,893,875 —   4,893,875 —
Municipal bonds 63,321,383 — 63,321,383 —
Collateralized mortgage obligations   100,828,398 — 100,828,398 —
Asset backed securities 57,615,753 — 57,615,753   —
Common stocks 116 $116 — —
Preferred securities 1,834,500 1,834,500 — —
Purchased options 772,256 — 772,256 —
Short-term investments 38,101,434 —   38,101,434 —
Total investments in securities $1,379,228,793 $1,834,616 $1,376,369,924 $1,024,253
Sale commitments outstanding ($21,401,718) — ($21,401,718) —
Other financial instruments:
Futures $2,217,479 $2,217,479 — —
Forward foreign currency contracts $22,436,974 — $22,436,974 —
Written options ($818,652) — ($818,652) —
Interest rate swaps ($22,270,778) — ($22,270,778) —
Credit default swaps ($2,601) — ($2,601) —

334


Level 2 Level 3
significant significant
      Total market value       Level 1 quoted       observable       unobservable
at 3-31-15 price inputs inputs
Total Stock Market Index Trust
Common stocks
Consumer discretionary $79,322,642 $79,319,590 $2,997 $55
Consumer staples 51,572,137 51,571,168 —   969
Energy 49,960,998 49,960,751 — 247
Financials 102,052,345 102,052,259 — 86
Health care 77,520,892 77,515,812 — 5,080
Industrials   61,898,351 61,898,351 — —
Information technology 109,423,252 109,423,252 — —
Materials 19,651,740 19,651,740 — —
Telecommunication services 11,778,068   11,772,937 — 5,131
Utilities 16,678,469 16,678,469 — —
Corporate bonds 2,729 —   2,729 —
Warrants 529 510 19 —
Securities lending collateral 8,554,372 8,554,372 — —
Short-term investments 35,906,000 — 35,906,000 —
Total investments in securities $624,322,524 $588,399,211 $35,911,745 $11,568
Other financial instruments:
Futures $586,896 586,896 — —

Level 2 Level 3
significant significant
      Total market value       Level 1 quoted       observable       unobservable
at 3-31-15 price inputs inputs
Utilities Trust
Common stocks  
Consumer discretionary $48,697,025   $40,927,560   $7,769,465 —
Energy 83,110,313 83,110,313 — —
Financials   6,872,086 6,872,086 — —
Information technology 1,484,599 — 1,484,599 —
Telecommunication services 55,517,475 15,601,863 39,915,612 —
Utilities 242,568,729 181,697,586 60,871,143 —
Preferred securities 38,600,560 38,600,560 — —
Rights 6,680 6,680 — —
Securities lending collateral 2,220,528 2,220,528 — —
Short-term investments 2,760,000 — 2,760,000 —
Total investments in securities $481,837,995 $369,037,176 $112,800,819 —
Other financial instruments:
Forward foreign currency contracts $4,297,651 — $4,297,651 —

335


Level 2 Level 3
significant significant
      Total market value       Level 1 quoted       observable       unobservable
at 3-31-15 price inputs   inputs
Value Trust
Common stocks
Consumer discretionary $66,031,072 $66,031,072 — —
Consumer staples 17,672,337 17,672,337 — —
Energy 40,098,221 27,486,678 $12,611,543 —
Financials 183,499,535   183,499,535 — —
Health care   71,456,030 71,456,030   — —
Industrials 123,881,736 123,881,736 — —
Information technology 83,610,918 83,610,918 — —
Materials 29,963,706 29,963,706 — —
Telecommunication services 17,513,291 17,513,291 — —
Utilities 19,265,715 19,265,715 — —
Short-term investments 22,874,070 22,874,070 — —
Total investments in securities $675,866,631 $663,255,088 $12,611,543 —

For Utilities Trust, securities with market value of approximately $11,059,149 at the beginning of the year were transferred from Level 2 to 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 and in all cases were transferred into or out of Level 2. Securities were transferred into Level 3 because of 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.

Alpha Opportunities Trust
Common Preferred
       stocks        securities        Total
Balance as of 12-31-14 $146,454 $11,673,170 $11,819,624
Realized gain (loss) -   - -
Change in unrealized appreciation (depreciation) (8,209) (12,352)   (20,561)
Purchases   - 1,812,339 1,812,339
Sales - - -
Transfers into Level 3 - - -
Transfers out of Level 3 - (530,584) (530,584)
Balance as of 3-31-15 $138,245 $12,942,573 $13,080,818
Change in unrealized at period end* ($8,209) $236,455 $228,246

336


Financial Industries Trust      
Financials
Balance as of 12-31-14 $3,239,103
Accrued discounts/premiums -
Realized gain (loss) -
Changed in unrealized appreciation (depreciation) 373,013
Purchases -
Sales -
Transfers into Level 3 -
Transfers out of Level 3   -
Balance as of 3-31-15 $3,612,116
Change in unrealized at period end* $373,013

High Yield Trust
Corporate Asset backed Common
      bonds       securities       stocks       Total
Balance as of 12-31-14 $1,493,710   - $3,189,157 $4,682,867
Realized gain (loss) - - - -
Change in unrealized appreciation (depreciation) 11,901 - (389,740) (377,839)
Purchases   1,752 $729,319 - 731,071
Sales - - -   -
Transfers into Level 3 - -   7,500 7,500
Transfers out of Level 3 - - (96,838) (96,838)
Balance as of 3-31-15 $1,507,363 $729,319 $2,710,079 $4,946,761
Change in unrealized at period end* $8,461 - ($389,740) ($381,279)
 
Investment Quality Bond Trust
 
  Collateralized
Corporate mortgage Asset backed
bonds obligations securities Total
Balance as of 12-31-14 $33,362 - - $33,362
Realized gain (loss) - - - -
Change in unrealized appreciation (depreciation) - - - -
Purchases - $483,254 $2,799,008 3,282,262
Sales - - - -
Transfers into Level 3 - - - -
Transfers out of Level 3 (33,362) - - (33,362)
Balance as of 3-31-15 - $483,254 $2,799,008 $3,282,262
Change in unrealized at period end* - - - -

337


Mid Cap Stock Trust                  
Common Preferred
stocks securities Total
Balance as of 12-31-14 $1,075,287 $64,047,479 $65,122,766
Realized gain (loss) - 2,517,995 2,517,995
Changed in unrealized appreciation (depreciation) (61,002) (662,450) (723,452)
Purchases - 6,733,226 6,733,226
Sales - (6,199,688) (6,199,688)
Transfers into Level 3 - - -
Transfers out of Level 3 - - -
Balance as of 3-31-15 $1,014,285 $66,436,562 $67,450,847
Change in unrealized at period end* ($61,002) $1,064,015 $1,003,013
 
Science & Technology Trust
Consumer Information
discretionary technology Total
Balance as of 12-31-14 $377,484 $10,231,421 $10,608,905
Realized gain (loss) - - -
Changed in unrealized appreciation (depreciation) (341) 19,516 19,175
Purchases 171,227 - 171,227
Sales - - -
Transfers into Level 3 - - -
Transfers out of Level 3 - - -
Balance as of 3-31-15 $548,370 $10,250,937 $10,799,307
Change in unrealized at period end* ($341) $19,516 $19,175
 
Small Cap Growth Trust
Common Preferred
stocks securities Total
Balance as of 12-31-14   $558,902   $11,854,779 $12,413,681
Realized gain (loss) - - -
Changed in unrealized appreciation (depreciation) 47,365 876,452 923,817
Purchases - 1,533,808 1,533,808
Sales - - -
Transfers into Level 3 - -   -
Transfers out of Level 3 - - -
Balance as of 3-31-15 $606,267 $14,265,039 $14,871,306
Change in unrealized at period end* $47,365 $876,452 $923,817

* Change in unrealized appreciation (depreciation) attributable to level 3 securities held at the period end.

338


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.

Alpha Opportunities Trust
Fair Value
at 3-31-15		 Valuation
Technique		 Unobservable Inputs Input/Range
Common Stocks $95,718 Market Approach EV to revenue multiple
Discount for lack of marketability		 2.75x
10%
 
$42,527 Market Approach Prior / recent transactions $16.65
 
$138,245
Preferred Securities $3,717,479 Market Approach EV to revenue multiple
Discount for lack of marketability		 1.25x - 15.03x (weighted average 7.39x)
7.5% - 25% (weighted average 11.2%)
   
$502,788 Market Approach EV to revenue multiple 3.59x
WACC 15%
 
$8,722,306 Market Approach Prior / recent transactions $1.80 - $35. 90 (weighted average $27.70)
 
$12,942,573
         
Total $13,080,818

339


Financial Industries Trust
Fair Value
at 3-31-15		 Valuation
Technique		 Unobservable Inputs Input/Range
Pending transaction $7,575.49
Common Stocks $3,612,116 Market Approach Discount for lack of marketability 5.12%
Deal closing risk discount 2.5%

High Yield Trust
Fair Value
at 3-31-15		 Valuation
Technique		 Unobservable Inputs Input/Range
Asset Backed Securities $729,319 Market Approach Prior / recent transactions $97.25
 
Common Stocks $7,500 Estimated Estimated future payments $1.00
liquidation value
 
$2,619,893 Market Approach EV/EBITDA multiple
Discount for lack of marketability		 5.58x - 10.35x (weighted average 7.30x)
10% - 17.5% (weighted average 13%)
 
$2,627,393
 
Corporate Bonds $1,507,363 Market Approach Yield spread 408 bps - 756 bps (weighted average 600.81 bps)
 
Total $4,864,075 *

* Amounts exclude valuations provided by a broker, which amounted to $82,686

340


Investment Quality Bond Trust
Fair Value
at 3-31-15		 Valuation
Technique		 Unobservable Inputs Input/Range
Collateralized Mortgage $483,254 Market Approach Prior / recent transactions $99.64
Obligations
 
Asset Backed Securities $2,799,008 Market Approach Prior / recent transactions $99.68 - $100 (weighted average $99.96)
 
Total $3,282,262

Mid Cap Stock Trust
Fair Value
at 3-31-15		 Valuation
Technique		 Unobservable Inputs Input/Range
Common Stocks $711,267 Market Approach EV to revenue multiple
Discount for lack of marketability		 2.75x
10%
 
$303,018 Market Approach Prior / recent transactions $16.65
 
$1,014,285
 
Preferred Securities $4,416,305 Market Approach EV to revenue multiple
Discount for lack of marketability
Allocated using OPM - Volatility		 1.52x
17.5%
40%
 
$21,323,913 Market Approach EV to revenue multiple
Discount for lack of marketability		 1.25x - 12.88x (weighted average 7.26x)
7.5% - 25% (weighted average 11.5%)
 
$2,319,643 Market Approach

EV to revenue multiple
WACC

 3.59x
15%
         
$38,376,701 Market Approach   Prior / recent transactions $1.80 - $35.90 (weighted average $23.93)
         
$66,436,562
 
Total $67,450,847

341


Science & Technology Trust
Fair Value
at 3-31-15		 Valuation
Technique		 Unobservable Inputs Input/Range
Common Stocks $1,004,650 Market Approach EV to revenue multiple
Discount for lack of marketability		 10.31x - 15.03x (weighted average 10.93x)
10% - 17.5% (weighted average 16.5%)
 
$55,748 Market Approach Prior / recent transactions $113.77
 
$6,849,011 Market Approach Prior / recent transactions
Interest rate		 13.75
5.75%
$7,909,409
 
Preferred Securities $1,740,937 Market Approach EV to revenue multiple
Discount for lack of marketability		 15.03x
10%
 
$1,148,961 Market Approach Prior / recent transactions $30.92 - $119.76 (weighted average $68.41)
 
$2,889,898
 
Total $10,799,307

342


Small Cap Growth Fund
Fair Value
at 3-31-15		 Valuation
Technique		 Unobservable Inputs Input/Range
Common Stocks $606,267 Market Approach EV to revenue multiple
Probability weighted expected price
Implied discount rate at time of purchase		 4.0x
$2.37
37%
 
Preferred Securities $6,746,053 Market Approach EV to revenue multiple
Discount for lack of marketability		 5.55x - 12.88x (weighted average 9.74x)
7.5% - 10% (weighted average 9.3%)
 
$1,361,707 Market Approach EV to revenue multiple
WACC		 3.59x
15%
 
$2,173,741 Market Approach EV to revenue multiple
Probability weighted expected price
Implied discount rate at time of purchase		 4.0x
$2.37
37%
 
$3,983,538 Market Approach Prior / recent transactions $3.80 - $30.92 (weighted average $20.48)
$14,265,039
 
Total $14,871,306

343


A change to unobservable inputs of the fund's Level 3 securities may result in changes to the fair value measurement, as follows:

Impact to Valuation if input
Unobservable Input Impact to Valuation if input increases       decreases
Interest rate Increase Decrease
Discount for lack of marketability Decrease Increase
Enterprise value (“EV”) to revenue multiple Increase Decrease
Prior / recent transactions Increase Decrease
Yield spread Decrease Increase
Implied discount rate at time of purchase Decrease Increase
Weighted Average Cost of Capital ("WACC") Decrease   Increase
Probability weighted expected price Increase Decrease
Pending transaction Increase Decrease
Deal closing risk discount Decrease Increase
Estimated future payments Increase Decrease
Allocated using Options Pricing Method ("OPM") - Volatility Increase Decrease
 
Enterprise value to earnings before interest, Increase Decrease
taxes, depreciation and amortization
("EV/EBITDA") multiple

Repurchase agreements. The portfolios may enter into repurchase agreements. When the portfolio enters into a repurchase agreement, it receives collateral that is held in a segregated account by a 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 portfolios. 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 a portfolio for repurchase agreements is disclosed in the Fund’s 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. 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. At the time that the portfolio enters into this type of transaction, 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 fund 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, and may be impacted by elongated settlement periods. During periods of infrequent trading, valuing a term loan can be more difficult and buying and selling a term loan at an acceptable price can be more difficult and delayed, which could result in a loss.

The fund’s ability to receive payments of principal, interest and other amounts in connection with term loans will depend primarily on the financial condition of the borrower. The fund’s failure to receive scheduled payments on a term loan due to a default, bankruptcy or other reason would adversely affect the fund’s income and would likely reduce the value of its assets. 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. The fund may have limited rights to enforce the terms of an underlying loan.

Inflation-indexed bonds. Inflation-indexed bonds are securities that generally have a lower coupon interest rate fixed at issuance but whose principal value is periodically adjusted based on a rate of inflation, such as the Consumer Price Index. Over the life of an inflation-indexed bond, interest is paid on the inflation adjusted principal 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.

344


Payment-in-kind bonds. The fund 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 fund 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 fund may need to sell other investments to make distributions.

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 fund 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 fund may not receive all or part of its principal or interest payments because the borrower or issuer has defaulted on its obligation.

Cost of investment securities for federal income tax purposes. The costs of investments owned on March 31, 2015, 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 $2,154,679,041 $1,450,380,311 ($39,960,912) $1,410,419,399
Active Bond Trust 819,471,572 38,664,707 (13,112,559) 25,552,148
All Cap Core Trust 327,483,376 35,247,019 (4,980,812) 30,266,207
Alpha Opportunities Trust 716,829,151 96,722,609 (24,790,062) 71,932,547
American Asset Allocation Trust 1,060,158,876 613,112,702 0 613,112,702
American Global Growth Trust 219,194,514 32,387,309 0 32,387,309
American Growth Trust 639,929,651 384,352,409 0 384,352,409
American Growth-Income Trust 804,655,648 423,500,641 0 423,500,641
American International Trust 502,398,766 105,114,049   0 105,114,049
American New World Trust 83,087,034 0 (9,311,884) (9,311,884)
Blue Chip Growth Trust 1,065,430,835 744,779,403 (17,752,756) 727,026,647
Bond Trust 10,303,678,079 233,332,271 (83,714,390) 149,617,881
Capital Appreciation Trust 729,385,712 333,676,724 (6,795,403) 326,881,321
Capital Appreciation Value Trust 332,023,007 41,284,519 (2,690,205) 38,594,314
Core Bond Trust 1,100,804,191 17,508,056 (2,042,466) 15,465,590
Core Strategy Trust 3,729,037,698 237,397,201 (97,203) 237,299,998
Emerging Markets Value Trust 911,895,426 160,046,883 (223,523,903) (63,477,020)
Equity-Income Trust 1,392,112,595 616,100,817 (60,420,848) 555,679,969
Financial Industries Trust 160,358,495   13,070,252 (5,216,964) 7,853,288
Franklin Templeton Founding Allocation Trust 1,002,729,696 234,971,188 0 234,971,188
Fundamental All Cap Core Trust 1,305,855,619 400,146,272 (26,422,357)   373,723,915
Fundamental Large Cap Value Trust 1,606,770,083 189,843,743 (56,515,463) 133,328,280
Global Bond Trust 791,727,738 15,097,955 (46,257,020) (31,159,065)
Global Trust 648,143,335 134,118,121 (58,283,616) 75,834,505
Health Sciences Trust 247,946,881 143,231,099 (1,369,466) 141,861,633
High Yield Trust 317,947,774 5,816,399 (28,895,390) (23,078,991)

345


Income Trust       391,256,192       59,304,525       (30,215,047)       29,089,478
International Core Trust 765,916,469 43,210,676 (51,167,750) (7,957,074)
International Equity Index Trust B 530,001,923 184,703,465 (58,953,949) 125,749,516
International Growth Stock Trust 420,535,650 89,899,663 (18,806,942) 71,092,721
International Small Company Trust 106,240,283 25,780,732 (22,364,089) 3,416,643
International Value Trust 1,051,439,668 143,812,364 (120,564,385) 23,247,979
Investment Quality Bond Trust 420,426,825 8,184,157 (3,883,356) 4,300,801
Lifestyle Aggressive MVP 378,624,336 69,067,057 (10,599,586) 58,467,471
Lifestyle Aggressive PS Series 21,686,091 907,141 (71,984) 835,157
Lifestyle Balanced MVP 8,718,110,332 1,168,553,972 (55,030,762) 1,113,523,210
Lifestyle Balanced PS Series 989,612,550 34,941,826 0 34,941,826
Lifestyle Conservative MVP 1,727,305,601 54,766,110 (7,733,464) 47,032,646
Lifestyle Conservative PS Series 191,673,220 4,200,953 0 4,200,953
Lifestyle Growth MVP 10,255,689,884 2,064,994,050 (44,590,556) 2,020,403,494
Lifestyle Growth PS Series 1,968,720,359 79,401,170 0 79,401,170
Lifestyle Moderate MVP 2,607,622,565 249,107,874 (7,680,645) 241,427,229
Lifestyle Moderate PS Series 336,716,431 10,900,437 0 10,900,437
Mid Cap Index Trust 624,566,240 340,442,269 (20,230,707) 320,211,562
Mid Cap Stock Trust 803,118,478 137,823,071 (15,736,949) 122,086,122
Mid Value Trust 767,099,894 189,257,589 (34,389,207) 154,868,382
Money Market Trust 2,021,136,966 0 0 0
Money Market Trust B 402,534,737 0 0 0
Mutual Shares Trust 474,192,543 145,216,272 (29,505,941) 115,710,331
New Income Trust 1,718,690,807 57,033,144 (11,991,376) 45,041,768
Real Estate Securities Trust 429,674,645 34,801,460 (3,441,350) 31,360,110
Real Return Bond Trust 163,342,919 1,349,283 (6,440,755) (5,091,472)
Science and Technology Trust 461,777,939 75,724,599 (17,383,051) 58,341,548
Short Term Government Income Trust 394,197,386 2,258,683 (4,604,249) (2,345,566)
Small Cap Growth Trust 493,134,759 85,956,633 (9,878,206) 76,078,427
Small Cap Index Trust 334,239,665 177,701,695 (21,884,319) 155,817,376
Small Cap Opportunities Trust 241,180,340 63,817,578 (14,489,110) 49,328,468
Small Cap Value Trust 521,203,532 220,996,389 (11,814,114) 209,182,275
Small Company Growth Trust 98,532,948 38,937,111 (3,094,542) 35,842,569
Small Company Value Trust 246,995,202 121,206,211 (8,960,231) 112,245,980
Strategic Equity Allocation Trust 8,798,510,337 2,698,990,162 (307,320,660) 2,391,669,502
Strategic Income Opportunities Trust 528,307,112 22,436,845 (20,649,525) 1,787,320
Total Bond Market Trust B 501,023,265 26,728,966 (1,393,412) 25,335,554
Total Return Trust 1,344,458,290 47,242,747 (12,472,244) 34,770,503
Total Stock Market Index Trust 380,721,956 264,779,452 (21,178,884) 243,600,568
Ultra Short Term Bond Trust 225,091,635 145,703 (2,966,820) (2,821,117)
U.S. Equity Trust 701,602,623 126,143,188 (20,206,539) 105,936,649
Utilities Trust 457,380,092 51,906,046 (27,448,143) 24,457,903
Value Trust 559,924,899 130,910,624 (14,968,892) 115,941,732

346


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.

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 funds to the risk of loss up to the notional value of the futures contracts. Use of short futures contracts subjects the funds to unlimited risk of loss.

The following tables summarize the contracts held at March 31, 2015. In addition, the tables detail how the funds used futures contracts during the period ended March 31, 2015.

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 March 31, 2015.

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 245 Long Jun 2015 $125,045,116 $126,224,000 $1,178,884
  $1,178,884

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, manage against anticipated changes in securities markets, and substitute for securities purchase (or to be purchased). The following table summarizes the contracts held at March 31, 2015.

347


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 5 Long Jun 2015 $617,151 $624,450 $7,299
S&P 500 Index E-Mini Futures 49 Long Jun 2015 5,049,600 5,048,960 (640)
                            $6,659

Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

Capital Appreciation Value Trust
The portfolio used futures gain exposure to certain securities markets and as a substitute for securities purchased. The following table summarizes the contracts held at March 31, 2015.

Number Unrealized
of Expiration Notional Notional Appreciation
Portfolio     Open Contracts     Contracts     Position     Date     Basis     Value     (Depreciation)
 
Capital Appreciation Value Trust Euro STOXX 50 Index Futures 48 Long Jun 2015 $1,857,630 $1,874,032 $16,402
Euro STOXX 600 Index Futures 86 Long Jun 2015 1,799,859 1,811,517 11,658
$28,060

Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

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 March 31, 2015.

348


Number Unrealized
of Expiration Notional Notional Appreciation
Portfolio     Open Contracts     Contracts     Position     Date     Basis     Value     (Depreciation)
 
Global Bond Trust Euro SCHATZ Futures 68 Long Jun 2015 $8,129,944 $8,132,441 $2,497
German Euro BUND Futures 230 Long Jun 2015 38,994,627 39,262,550 267,923
U.K. Long Gilt Bond Futures 3 Long Jun 2015 526,611 537,362 10,751
U.S. Treasury Long Bond Futures 13 Long Jun 2015 2,108,358 2,130,375 22,017
Euro-Buxl Futures 14 Long Jun 2015 2,487,152 2,651,825 164,673
10-Year Australian Treasury Bond Futures 97 Short Jun 2015 (9,600,597) (9,802,033) (201,436)
10-Year Canada Government Bond Futures 106 Short Jun 2015 (11,884,942) (11,946,185) (61,243)
10-Year U.S. Treasury Note Futures 1,330 Long Jun 2015 169,971,530 171,445,312 1,473,782
Eurodollar Futures 185 Short Jun 2015 (46,085,899) (46,097,375) (11,476)
Eurodollar Futures 126 Short Sep 2015 (31,334,225) (31,348,800) (14,575)
Eurodollar Futures 112 Short Dec 2015 (27,799,475) (27,816,600) (17,125)
Eurodollar Futures 138 Short Mar 2016 (34,187,541) (34,210,200) (22,659)
Eurodollar Futures 3 Short Jun 2016 (741,708) (742,275) (567)
$1,612,562

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 against anticipated interest rate changes. The following table summarizes the contracts held at March 31, 2015.

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 85 Short Jun 2015 ($10,811,138) ($10,957,031) ($145,893)
($145,893)

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 March 31, 2015.

349


Number Unrealized
of Expiration Notional Notional Appreciation
Portfolio     Open Contracts     Contracts     Position     Date     Basis     Value     (Depreciation)
 
Investment Quality Bond Trust 2-Year U.S. Treasury Note Futures 138 Long Jun 2015 $30,198,788 $30,243,562 $44,774
5-Year U.S. Treasury Note Futures 82 Long Jun 2015 9,789,529 9,857,297 67,768
U.S. Treasury Long Bond Futures 49 Long Jun 2015 7,943,449 8,029,875 86,426
U.S. Treasury Ultra Bond Futures 80 Long Jun 2015 13,134,844 13,590,000 455,156
U.K. Long Gilt Bond Futures 10 Short Jun 2015 (1,757,294) (1,791,206) (33,912)
10-Year U.S. Treasury Note Futures 258 Short Jun 2015 (33,103,648) (33,257,812) (154,164)
$466,048

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 Aggressive MVP
The fund used futures contracts to manage the volatility of returns. The following table summarizes the contracts held at March 31, 2015.

Number Unrealized
of Expiration Notional Notional Appreciation
Fund     Open Contracts     Contracts     Position     Date     Basis     Value     (Depreciation)
 
Lifestyle Aggressive MVP Euro FX Futures 33 Short Jun 2015 ($4,473,235) ($4,436,025) $37,210
Euro STOXX 50 Index Futures 113 Short Jun 2015 (4,330,438) (4,411,784) (81,346)
FTSE 100 Index Futures 56 Short Jun 2015 (5,632,046) (5,588,146) 43,900
Great British Pound Currency Futures 61 Short Jun 2015 (5,668,217) (5,656,606) 11,611
Japanese Yen Currency Futures 17 Short Jun 2015 (1,776,850) (1,773,525) 3,325
Mini MSCI Emerging Markets Index Futures 146 Short Jun 2015 (6,913,460) (7,098,520) (185,060)
Nikkei 225 Futures 11 Short Jun 2015 (1,754,621) (1,761,871) (7,250)
Russell 2000 Mini Index Futures 49 Short Jun 2015 (5,998,002) (6,119,610) (121,608)
S&P 500 Index E-Mini Futures 266 Short Jun 2015 (27,188,027) (27,408,640) (220,613)
S&P Mid 400 Index E-Mini Futures 71 Short Jun 2015 (10,601,410) (10,790,580) (189,170)

($709,001)

Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

350


Lifestyle Balanced MVP
The fund used futures contracts to manage the volatility of returns. The following table summarizes the contracts held at March 31, 2015.

Number Unrealized
of Expiration Notional Notional Appreciation
Fund     Open Contracts     Contracts     Position     Date     Basis     Value     (Depreciation)
 
Lifestyle Balanced MVP Euro FX Futures 96 Long Jun 2015 $12,889,279 $12,904,800 $15,521
Euro STOXX 50 Index Futures 334 Long Jun 2015 12,782,071 13,040,141 258,070
FTSE 100 Index Futures 153 Long Jun 2015 15,143,055 15,267,613 124,558
Great British Pound Currency Futures 167 Long Jun 2015 15,671,254 15,486,119 (185,135)
Japanese Yen Currency Futures 33 Long Jun 2015 3,406,519 3,442,725 36,206
Russell 2000 Mini Index Futures 114 Long Jun 2015 14,032,534 14,237,460 204,926
S&P 500 Index E-Mini Futures 777 Long Jun 2015 79,896,905 80,062,080 165,175
S&P Mid 400 Index E-Mini Futures 152 Long Jun 2015 22,704,608 23,100,960 396,352
Nikkei 225 Futures 21 Long Jun 2015 3,264,031 3,363,572 99,541
Mini MSCI Emerging Markets Index Futures 58 Short Jun 2015 (2,761,138) (2,819,960) (58,822)
$1,056,392

Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

351


Lifestyle Conservative MVP
The fund used futures contracts to manage the volatility of returns. The following table summarizes the contracts held at March 31, 2015.

Number Unrealized
of Expiration Notional Notional Appreciation
Fund     Open Contracts     Contracts     Position     Date     Basis     Value     (Depreciation)
 
Lifestyle Conservative MVP Euro FX Futures 29 Long Jun 2015 $3,928,475 $3,898,325 ($30,150)
Euro STOXX 50 Index Futures 101 Long Jun 2015 3,865,484 3,943,276 77,792
FTSE 100 Index Futures 46 Long Jun 2015 4,570,081 4,590,263 20,182
Great British Pound Currency Futures 50 Long Jun 2015 4,688,789 4,636,562 (52,227)
Japanese Yen Currency Futures 31 Long Jun 2015 3,217,717 3,234,075 16,358
Mini MSCI Emerging Markets Index Futures 104 Long Jun 2015 4,886,770 5,056,480 169,710
Russell 2000 Mini Index Futures 29 Long Jun 2015 3,567,120 3,621,810 54,690
S&P 500 Index E-Mini Futures 117 Long Jun 2015 12,015,508 12,055,680 40,172
S&P Mid 400 Index E-Mini Futures 32 Long Jun 2015 4,778,702 4,863,360 84,658
Nikkei 225 Futures 20 Long Jun 2015 3,137,341 3,203,402 66,061
$447,246

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 fund used futures contracts to manage the volatility of returns. The following table summarizes the contracts held at March 31, 2015.

Number Unrealized
of Expiration Notional Notional Appreciation
Fund     Open Contracts     Contracts     Position     Date     Basis     Value     (Depreciation)
 
Lifestyle Growth MVP Euro FX Futures 569 Short Jun 2015 ($77,549,968) ($76,487,825) $1,062,143
Euro STOXX 50 Index Futures 1,979 Short Jun 2015 (76,046,307) (77,264,789) (1,218,482)
FTSE 100 Index Futures 1,094 Short Jun 2015 (110,444,663) (109,168,421) 1,276,242
Great British Pound Currency Futures 1,193 Short Jun 2015 (110,751,312) (110,628,381) 122,931
Japanese Yen Currency Futures 611 Short Jun 2015 (64,059,004) (63,742,575) 316,429
Mini MSCI Emerging Markets Index Futures 2,424 Short Jun 2015 (114,885,498) (117,854,880) (2,969,382)
Russell 2000 Mini Index Futures 656 Short Jun 2015 (80,217,264) (81,927,840) (1,710,576)
S&P 500 Index E-Mini Futures 4,718 Short Jun 2015 (481,694,133) (486,142,720) (4,448,587)
S&P Mid 400 Index E-Mini Futures 1,074 Short Jun 2015 (160,443,156) (163,226,520) (2,783,364)
Nikkei 225 Futures 397 Short Jun 2015 (63,557,826) (63,587,527) (29,701)

($10,382,347)

Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

352


Lifestyle Moderate MVP
The fund used futures contracts to manage the volatility of returns. The following table summarizes the contracts held at March 31, 2015.

Number Unrealized
of Expiration Notional Notional Appreciation
Fund     Open Contracts     Contracts     Position     Date     Basis     Value     (Depreciation)
 
Lifestyle Moderate MVP Euro FX Futures 82 Long Jun 2015 $11,086,221 $11,022,850 ($63,371)
Euro STOXX 50 Index Futures 288 Long Jun 2015 11,021,667 11,244,194 222,527
FTSE 100 Index Futures 138 Long Jun 2015 13,658,442 13,770,788 112,346
Great British Pound Currency Futures 152 Long Jun 2015 14,278,315 14,095,150 (183,165)
Japanese Yen Currency Futures 79 Long Jun 2015 8,185,408 8,241,675 56,267
Mini MSCI Emerging Markets Index Futures 202 Long Jun 2015 9,475,295 9,821,240 345,945
Russell 2000 Mini Index Futures 94 Long Jun 2015 11,570,686 11,739,660 168,974
S&P 500 Index E-Mini Futures 449 Long Jun 2015 46,169,512 46,264,960 95,448
S&P Mid 400 Index E-Mini Futures 110 Long Jun 2015 16,430,966 16,717,800 286,834
Nikkei 225 Futures 51 Long Jun 2015 7,973,182 8,168,675 195,493
$1,237,298

Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

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 March 31, 2015.

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 243 Long Jun 2015 $36,128,901 $36,931,140 $802,239
$802,239

Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

353


New Income Trust
The portfolio used futures contracts to gain exposure to treasuries market, maintain diversity and liquidity of the portfolio, manage against anticipated changes in securities markets, manage duration of the portfolio, and substitute for securities purchase (or to be purchased). The following table summarizes the contracts held at March 31, 2015.

Number Unrealized
of Expiration Notional Notional Appreciation
Portfolio       Open Contracts       Contracts       Position       Date       Basis       Value       (Depreciation)
 
New Income Trust 2-Year U.S. Treasury Note Futures 187 Short Jun 2015 ($40,807,653) ($40,982,219) ($174,566)
  10-Year U.S. Treasury Note Futures 273 Short Jun 2015 (34,753,088) (35,191,406) (438,318)
U.S. Treasury Long Bond Futures 7 Short Jun 2015 (1,124,330) (1,147,125) (22,795)
($635,679)

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, 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 March 31, 2015.

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 31 Long Jun 2015 $3,680,561 $3,726,539 $45,978
10-Year U.S. Treasury Note Futures 4 Long Jun 2015 509,385 515,625 6,240
Eurodollar Futures 52 Short Jun 2015 (12,947,771) (12,957,100) (9,329)
Eurodollar Futures 38 Short Sep 2015 (9,442,910) (9,454,400) (11,490)
  Eurodollar Futures 53 Short Dec 2015 (13,159,953) (13,163,212) (3,259)
Eurodollar Futures 42 Short Mar 2016 (10,390,527) (10,411,800) (21,273)
Eurodollar Futures 3 Short Jun 2016 (740,283) (742,275) (1,992)
Eurodollar Futures 2 Short Sep 2016 (491,823) (493,875) (2,052)
Eurodollar Futures 2 Short Dec 2016 (490,748) (492,975) (2,227)
German Euro BUND Futures 12 Short Jun 2015 (2,029,395) (2,048,481) (19,086)
($18,490)

Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

354


Short Term Government Income Trust
The portfolio used futures contracts to manage duration of the portfolio. The following table summarizes the contracts held at March 31, 2015.

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 96 Short Jun 2015 ($11,469,567) ($11,540,250) ($70,683)
($70,683)

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 March 31, 2015.

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 105 Long Jun 2015 $12,726,541 $13,113,450 $386,909
$386,909

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


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 March 31, 2015.

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 1,069 Long Jun 2015 $96,301,177 $97,808,155 $1,506,978
Russell 2000 Mini Index Futures 140 Long Jun 2015 17,340,944 17,484,600 143,656
  S&P 500 Index Futures 392 Long Jun 2015 204,496,844 201,958,400 (2,538,444)
S&P Mid 400 Index E-Mini Futures 247 Long Jun 2015 37,224,830 37,539,060 314,230
($573,580)

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 Return 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 March 31, 2015.

Number Unrealized
of Expiration Notional Notional Appreciation
Portfolio       Open Contracts       Contracts       Position       Date       Basis       Value       (Depreciation)
 
Total Return Trust U.S. Treasury Long Bond Futures 81 Long Jun 2015 $13,136,693 $13,273,875 $137,182
  10-Year U.S. Treasury Note Futures 2,447 Long Jun 2015 312,357,374 315,433,594 3,076,220
Eurodollar Futures 616 Short Jun 2015 (153,456,909) (153,491,800) (34,891)
Eurodollar Futures 670 Short Sep 2015 (166,481,322) (166,696,000) (214,678)
Eurodollar Futures 962 Short Dec 2015 (238,533,582) (238,924,725) (391,143)
Eurodollar Futures 679 Short Mar 2016 (168,046,241) (168,324,100) (277,859)
Eurodollar Futures 326 Short Sep 2016 (80,424,273) (80,501,625) (77,352)
$2,217,479

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


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 March 31, 2015.

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 43 Long Jun 2015 $5,216,312 $5,370,270 $153,958
  S&P 500 Index Futures 59 Long Jun 2015 30,025,189 30,396,800 371,611
S&P Mid 400 Index E-Mini Futures 17 Long Jun 2015 2,522,333 2,583,660 61,327
$586,896

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 fund’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 fund as an unrealized gain or loss. Realized gains or losses, equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed, are recorded upon delivery or receipt of the currency or settlement with the counterparty.

Capital Appreciation Value 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 March 31, 2015.

Contractual Net Unrealized
Settlement Unrealized Unrealized Appreciation/
Portfolio     Contract to Buy     Contract to Sell     Counterparty     Date     Appreciation     Depreciation     (Depreciation)
Capital Appreciation Value Trust EUR     236,600 USD     254,403 Citibank N.A. London 6/25/2015 $296 - $296
USD 787,032 EUR 720,000 Standard Chartered Bank 6/25/2015 11,955 - 11,955
$12,251 - $12,251

357


Global Bond Trust
The portfolio used forward foreign currency contracts to manage against anticipated changes in currency exchange rates, gain exposure to foreign currencies, to maintain diversity and liquidity of the portfolio, and as a substitute for securities purchased. The following table summarizes the contracts held at March 31, 2015.

Contractual Net Unrealized
Settlement Unrealized Unrealized Appreciation/
Portfolio    Contract to Buy    Contract to Sell    Counterparty    Date    Appreciation    Depreciation    (Depreciation)
Global Bond Trust AUD    27,839,664    USD    21,936,498    Citibank N.A. 4/2/2015 - ($732,419) ($732,419)
AUD 11,095,000 USD 8,520,656 Goldman Sachs Bank USA 4/2/2015 - (70,149) (70,149)
AUD 7,977,000 USD 6,282,685 Bank of America, N.A. 5/6/2015 - (218,849) (218,849)
BRL 7,950,589 USD 2,478,363 Barclays Capital 4/2/2015 $12,774 - 12,774
  BRL 31,164,541 USD 10,741,023 HSBC Bank USA 4/2/2015 - (976,319) (976,319)
BRL 64,029,565 USD 21,453,650 JPMorgan Chase Bank 4/2/2015 - (1,391,435) (1,391,435)
BRL 1,828,965 USD 568,000 Credit Suisse International 5/5/2015 353 - 353
BRL 64,029,566 USD 19,750,020 JPMorgan Chase Bank 5/5/2015 147,222 - 147,222
CNY 4,482,200 USD 730,000 Bank of America, N.A. 9/8/2015 - (18,163) (18,163)
CNY 8,950,800 USD 1,468,946 Barclays Capital 9/8/2015 - (47,431) (47,431)
CNY 32,283,693 USD 5,336,196 Citibank N.A. 9/8/2015 - (209,083) (209,083)
CNY 6,380,000 USD 1,055,680 JPMorgan Chase Bank 9/8/2015 - (42,444) (42,444)
CNY 4,368,300 USD 710,000 Morgan Stanley Bank, N.A. 9/8/2015 - (16,251) (16,251)
DKK 35,110,000 USD 5,433,347 HSBC Bank USA 8/12/2015 - (359,485) (359,485)
DKK 26,994,000 USD 4,115,566 UBS AG 8/12/2015 - (214,574) (214,574)
EUR 11,060,000 USD 12,159,330 Bank of America, N.A. 5/19/2015 - (259,682) (259,682)
EUR 530,000 USD 600,236 BNP Paribas SA 5/19/2015 - (29,999) (29,999)
EUR 25,574,000 USD 28,017,502 Citibank N.A. 5/19/2015 - (501,988) (501,988)
EUR 41,287,000 USD 46,134,580 Goldman Sachs Bank USA 5/19/2015 - (1,713,174) (1,713,174)
EUR 419,000 USD 478,382 UBS AG 5/19/2015 - (27,572) (27,572)
GBP 400,000 USD 617,492 Bank of America, N.A. 4/2/2015 - (24,132) (24,132)
GBP 9,441,000 USD 14,643,935 Deutsche Bank AG London 4/2/2015 - (639,156) (639,156)
GBP 8,274,000 USD 12,281,272 Royal Bank of Canada 5/6/2015 - (10,357) (10,357)
ILS 15,102,297 USD 3,816,796 Bank of America, N.A. 4/14/2015 - (21,560) (21,560)
ILS 15,102,297 USD 3,839,111 Bank of America, N.A. 6/11/2015 - (43,463) (43,463)
INR 458,726,040 USD 7,324,323 Barclays Capital 4/6/2015 5,764 - 5,764
INR 458,726,040 USD 7,380,000 JPMorgan Chase Bank 4/6/2015 - (49,912) (49,912)
INR 730,625,749 USD 11,469,792 JPMorgan Chase Bank 4/13/2015 183,628 - 183,628
INR 458,726,040 USD 7,200,220 Barclays Capital 6/26/2015 4,746 - 4,746
INR 549,595,106 USD 8,646,191 UBS AG 6/26/2015 - (13,992) (13,992)
JPY 5,343,514,858 USD 45,070,664 Credit Suisse International 4/2/2015 - (517,241) (517,241)
JPY 5,610,548,235 USD 47,289,795 Goldman Sachs Bank USA 4/2/2015 - (509,888) (509,888)
JPY 1,694,900,000 USD 14,111,657 JPMorgan Chase Bank N.A. 4/2/2015 20,165 - 20,165
JPY 9,813,563,093 USD 82,134,720 Bank of America, N.A. 5/8/2015 - (270,411) (270,411)

358


JPY       194,300,000       USD       1,627,140       BNP Paribas SA       5/8/2015       -       (6,298)       (6,298)
JPY 1,155,100,000 USD 9,657,974 Goldman Sachs Bank USA 5/8/2015 - (22,181) (22,181)
  MXN 167,469,000 USD 10,787,506 Bank of America, N.A. 5/5/2015 169,885 - 169,885
MXN 1,724,000 USD 114,321 Barclays Bank PLC Wholesale 5/5/2015 - (1,520) (1,520)
MXN 41,057,000 USD 2,738,777 BNP Paribas SA 5/5/2015 - (52,443) (52,443)
MXN 110,880,000 USD 7,139,358 Citibank N.A. 5/5/2015 115,451 - 115,451
MXN 70,638,000 USD 4,542,666 Credit Suisse International 5/5/2015 79,134 - 79,134
MXN 40,884,979 USD 2,621,000 Goldman Sachs Bank USA 5/5/2015 54,078 - 54,078
MXN 3,110,000 USD 207,016 HSBC Bank USA 5/5/2015 - (3,531) (3,531)
MYR 69,874,406 USD 19,361,154 Bank of America, N.A. 4/13/2015 - (513,254) (513,254)
NZD 11,389,000 USD 8,692,882 UBS AG 4/2/2015 - (178,468) (178,468)
PLN 912,000 USD 241,936 Barclays Capital 4/30/2015 - (1,498) (1,498)
PLN 429,000 USD 114,337 HSBC Bank USA 4/30/2015 - (1,236) (1,236)
SEK 20,460,000 USD 2,445,823 Bank of America, N.A. 8/12/2015 - (64,622) (64,622)
USD 30,242,255 AUD 38,934,664 Citibank N.A. 4/2/2015 587,668 - 587,668
USD 21,151,396 AUD 26,895,664 Citibank N.A. 5/6/2015 706,252 - 706,252
USD 3,285,096 BRL 7,950,589 Barclays Capital 4/2/2015 793,959 - 793,959
USD 9,714,632 BRL 31,164,541 HSBC Bank USA 4/2/2015 - (50,072) (50,072)
USD 19,915,884 BRL 64,029,566 JPMorgan Chase Bank 4/2/2015 - (146,332) (146,332)
USD 7,665,870 BRL 20,947,817 Credit Suisse International 7/2/2015 1,278,952 - 1,278,952
USD 17,398,625 BRL 47,202,470 Deutsche Bank AG London 7/2/2015 3,006,751 - 3,006,751
USD 11,401,820 BRL 30,200,000 Goldman Sachs Bank USA 10/2/2015 2,456,322 - 2,456,322
USD 5,237,227 BRL 13,500,000 UBS AG 10/2/2015 1,238,412 - 1,238,412
USD 4,600,000 BRL 13,551,600 JPMorgan Chase Bank 1/5/2016 686,883 - 686,883
USD 211,125 CAD 264,000 Citibank N.A. 4/2/2015 2,687 - 2,687
USD 200,260 CAD 253,000 Deutsche Bank AG London 4/2/2015 507 - 507
USD 141,012 CHF 132,000 UBS AG 5/12/2015 4,962 - 4,962
USD 844,000 CNY 5,189,334 Bank of America, N.A. 4/16/2015 8,400 - 8,400
USD 8,906,700 CNY 55,283,886 Goldman Sachs Bank USA 4/16/2015 4,748 - 4,748
USD 755,327 DKK 4,973,000 UBS AG 4/1/2015 39,649 - 39,649
USD 5,650,635 DKK 38,220,000 UBS AG 8/12/2015 127,337 - 127,337
USD 315,298 DKK 2,067,200 JPMorgan Chase Bank N.A. 10/1/2015 16,122 - 16,122
USD 319,325 DKK 2,094,000 UBS AG 10/1/2015 16,270 - 16,270
USD 2,532,104 DKK 16,561,000 JPMorgan Chase Bank N.A. 1/4/2016 127,879 - 127,879
USD 1,797,819 EUR 1,625,000 Bank of America, N.A. 5/19/2015 49,453 - 49,453
USD 99,585,454 EUR 88,078,231 Goldman Sachs Bank USA 5/19/2015 4,820,541 - 4,820,541
USD 2,344,724 EUR 2,199,000 JPMorgan Chase Bank N.A. 5/19/2015 - (21,218) (21,218)

359


  USD       4,967,094       EUR       4,420,000       UBS AG       5/19/2015       211,539       -       211,539
USD 828,360 GBP 537,000 Citibank N.A. 4/2/2015 31,774 - 31,774
USD 1,591,317 GBP 1,030,000 Goldman Sachs Bank USA 4/2/2015 63,415 - 63,415
USD 12,283,762 GBP 8,274,000 Royal Bank of Canada 4/2/2015 10,111 - 10,111
USD 3,837,941 ILS 15,102,297 Bank of America, N.A. 4/14/2015 42,705 - 42,705
USD 2,805,935 ILS 11,035,462 Bank of America, N.A. 6/11/2015 32,401 - 32,401
USD 951,245 ILS 3,793,088 Barclays Bank PLC Wholesale 6/11/2015 - (2,069) (2,069)
USD 7,315,038 INR 458,726,040 Barclays Capital 4/6/2015 - (15,049) (15,049)
USD 7,324,323 INR 458,726,040 JPMorgan Chase Bank 4/6/2015 - (5,764) (5,764)
USD 2,906,489 INR 181,030,643 JPMorgan Chase Bank 4/13/2015 19,065 - 19,065
USD 8,765,472 INR 549,595,106 UBS AG 4/13/2015 - (524) (524)
USD 1,919,630 INR 121,915,710 Credit Suisse International 6/26/2015 4,765 - 4,765
USD 1,409,872 INR 89,146,234 Goldman Sachs Bank USA 6/26/2015 9,700 - 9,700
USD 5,291,173 INR 335,883,690 HSBC Bank USA 6/26/2015 15,627 - 15,627
USD 383,294 INR 24,297,000 JPMorgan Chase Bank 6/26/2015 1,674 - 1,674
USD 90,487,035 JPY 10,815,163,093 Bank of America, N.A. 4/2/2015 311,831 - 311,831
USD 12,443,192 JPY 1,510,000,000 Citibank N.A. 4/2/2015 - (146,961) (146,961)
USD 2,705,670 JPY 323,800,000 JPMorgan Chase Bank N.A. 4/2/2015 5,870 - 5,870
USD 25,374,895 MXN 372,440,027 Credit Suisse International 4/22/2015 984,732 - 984,732
USD 3,086,339 MXN 46,407,120 Barclays Bank PLC Wholesale 5/5/2015 49,950 - 49,950
USD 297,000 MXN 4,550,753 BNP Paribas SA 5/5/2015 - (753) (753)
USD 517,225 MXN 7,966,037 Citibank N.A. 5/5/2015 - (3,988) (3,988)
USD 7,879,829 MXN 120,293,467 Bank of America, N.A. 6/9/2015 27,219 - 27,219
USD 19,194,185 MYR 70,183,538 Barclays Capital 4/13/2015 262,900 - 262,900
USD 599,706 NOK 4,525,000 Goldman Sachs Bank USA 8/12/2015 39,616 - 39,616
USD 8,549,141 NZD 11,389,000 UBS AG 4/2/2015 34,727 - 34,727
USD 8,664,432 NZD 11,389,000 UBS AG 5/6/2015 178,118 - 178,118
USD 281,000 PLN 1,067,027 Bank of America, N.A. 4/30/2015 - (309) (309)
USD 770,172 PLN 2,864,000 Barclays Capital 4/30/2015 15,113 - 15,113
USD 950,397 PLN 3,541,000 Citibank N.A. 4/30/2015 16,855 - 16,855
USD 15,773 PLN 58,000 Deutsche Bank AG London 4/30/2015 482 - 482
USD 2,651,811 PLN 9,774,000 HSBC Bank USA 4/30/2015 75,014 - 75,014
USD 3,035,089 PLN 11,357,000 HSBC Bank USA 7/30/2015 49,754 - 49,754
USD 16,997,577 PLN 63,831,000 JPMorgan Chase Bank 7/30/2015 218,769 - 218,769
USD 481,233 ZAR 5,633,455 Barclays Bank PLC Wholesale 4/30/2015 18,893 - 18,893
ZAR 5,977,530 USD 507,000 Barclays Bank PLC Wholesale 4/30/2015 - (16,422) (16,422)
$19,499,573 ($10,183,641) $9,315,932

360


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 March 31, 2015.

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      1,853,738      Citibank N.A. London       5/13/2015           ($21,073)      ($21,073)
  USD 1,573,631 EUR 1,377,098 Citibank N.A. London 5/13/2015 $92,107 - 92,107
USD 1,993,336 EUR 1,744,024 UBS AG London 5/13/2015 117,061 - 117,061
$209,168 ($21,073) $188,095

Investment Quality Bond Trust
The portfolio used forward foreign currency contracts to manage against anticipated changes in currency exchange rates, gain exposure to foreign currencies, and as a substitute for securities purchased. The following table summarizes the contracts held at March 31, 2015.

Contractual Net Unrealized
Settlement Unrealized Unrealized Appreciation/
Portfolio    Contract to Buy    Contract to Sell    Counterparty    Date    Appreciation    Depreciation    (Depreciation)
Investment Quality Bond Trust BRL    1,165,000    USD    356,924 Morgan Stanley and Company International PLC 4/2/2015 $8,102 - $8,102
BRL 1,790,000 USD 559,080 UBS AG 4/2/2015 1,777 - 1,777
COP 243,000,000 USD 92,607 Standard Chartered Bank 6/17/2015 67 - 67
EUR 90,000 USD 99,053 Bank of America, N.A. 4/15/2015 - ($2,264) (2,264)
  EUR 35,000 USD 38,271 State Street Bank and Trust Company 4/30/2015 - (623) (623)
EUR 195,000 USD 214,796 Bank of America, N.A. 6/17/2015 - (4,905) (4,905)
EUR 185,000 USD 205,145 BNP Paribas SA 6/17/2015 - (6,017) (6,017)
EUR 1,000 USD 1,063 National Australia Bank Limited 6/17/2015 13 - 13
EUR 1,000 USD 1,060 Royal Bank of Scotland PLC 6/17/2015 16 - 16
IDR 3,910,530,000 USD 289,347 HSBC Bank USA 6/17/2015 4,341 - 4,341
INR 12,240,000 USD 193,763 Deutsche Bank AG London 4/15/2015 1,384 - 1,384
MXN 9,500,000 USD 625,527 JPMorgan Chase Bank N.A. 6/17/2015 - (5,707) (5,707)
MYR 380,000 USD 102,703 Deutsche Bank AG London 6/17/2015 - (768) (768)
NGN 61,131,000 USD 336,810 BNP Paribas SA 10/8/2015 - (51,411) (51,411)
RON 1,800,000 USD 427,395 BNP Paribas SA 6/17/2015 10,506 - 10,506
RSD 20,000,000 USD 201,552 Citibank N.A. 9/18/2015 - (27,932) (27,932)
USD 363,155 BRL 1,165,000 Morgan Stanley and Company International PLC 4/2/2015 - (1,872) (1,872)
USD 617,678 BRL 1,790,000 UBS AG 4/2/2015 56,822 - 56,822

361


USD 194,314 BRL 625,000 UBS AG 5/5/2015 94 - 94
USD 313,161 CAD 395,000 Toronto Dominion Bank 6/17/2015 1,608 - 1,608
USD 102,589 CLP 64,200,000 Bank of America, N.A. 6/17/2015 482 - 482
USD 42,417 COP 111,825,000 Bank of America, N.A. 6/17/2015 - (231) (231)
USD 121,556 COP 322,426,000 JPMorgan Chase Bank 6/17/2015 - (1,408) (1,408)
USD 80,239 COP 211,349,000 UBS AG 6/17/2015 - (364) (364)
USD 206,170 CZK 5,110,000 BNP Paribas SA 6/17/2015 6,601 - 6,601
USD 194,387 EUR 185,000 Deutsche Bank AG London 4/15/2015 - (4,568) (4,568)
USD 114,006 EUR 105,000 Deutsche Bank AG London 4/30/2015 1,064 - 1,064
USD 3,936,452 EUR 3,585,000 National Australia Bank Limited 4/30/2015 80,267 - 80,267
USD 506,386 EUR 480,000 Barclays Bank PLC Wholesale 6/17/2015 - (10,270) (10,270)
USD 99,930 EUR 94,000 National Australia Bank Limited 6/17/2015 - (1,248) (1,248)
USD 99,633 EUR 94,000 Royal Bank of Scotland PLC 6/17/2015 - (1,545) (1,545)
USD 229,251 EUR 213,000 State Street Bank and Trust Company 6/17/2015 - (14) (14)
USD 219,886 EUR 170,000 Citibank N.A. 9/18/2015 36,622 -   36,622
USD 392,401 EUR 365,000 Bank of America, N.A. 3/15/2017 - (8,665) (8,665)
USD 1,008,949 GBP 678,000 HSBC Bank USA 4/30/2015 3,388 - 3,388
USD 206,326 GBP 134,000 Bank of America, N.A. 6/17/2015 7,654 - 7,654
USD 105,450 GBP 70,000 Barclays Bank PLC Wholesale 6/17/2015 1,666 - 1,666
USD 105,425 GBP 70,000 Royal Bank of Scotland PLC 6/17/2015 1,641 - 1,641
USD 205,333 MXN 3,110,000 Bank of America, N.A. 6/17/2015 2,424 - 2,424
USD 625,765 MXN 9,768,000 Morgan Stanley and Company 6/17/2015 -   (11,539) (11,539)
International PLC
USD 625,913 MXN 9,768,000 Royal Bank of Canada 6/17/2015 - (11,392) (11,392)
USD 277,357 NGN 61,131,000 Citibank N.A.   10/8/2015 - (8,042) (8,042)
    USD     427,320     RON     1,800,000     Citibank N.A.     6/17/2015     -     (10,582)     (10,582)
              $226,539     ($171,367)     $55,172

362


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 March 31, 2015.

  Contractual Net Unrealized
Settlement Unrealized Unrealized Appreciation/
Portfolio   Contract to Buy   Contract to Sell   Counterparty   Date   Appreciation   Depreciation   (Depreciation)
Mutual Shares Trust EUR   202,274 USD   228,901 State Street Bank and Trust Company 5/18/2015 - ($11,273) ($11,273)
GBP 3,715,581 USD 5,724,627 Bank of America, N.A. 8/19/2015 - (217,749) (217,749)
GBP 326,731 USD 484,490 Credit Suisse International 8/19/2015 - (241) (241)
GBP 524,501 USD 783,316 HSBC Bank PLC 8/19/2015 - (5,951) (5,951)
GBP 303,900 USD 458,918 State Street Bank and Trust Company 8/19/2015 - (8,507) (8,507)
KRW 78,751,280 USD 70,992 Bank of America, N.A. 8/12/2015 - (271) (271)
USD 4,897,806 EUR 3,922,324 Bank of America, N.A. 5/18/2015 $677,766 - 677,766
USD 5,066,215 EUR 4,057,283 Credit Suisse International 5/18/2015 700,972 - 700,972
USD 5,140,067 EUR 4,116,115 Deutsche Bank AG London 5/18/2015 711,527 - 711,527
USD 174,556 EUR 140,237 HSBC Bank PLC 5/18/2015 23,676 - 23,676
USD 79,782 EUR 64,107 State Street Bank and Trust Company 5/18/2015 10,809 - 10,809
USD 1,013,341 EUR 886,393 Bank of America, N.A. 7/20/2015 58,751 - 58,751
USD 66,279 EUR 58,866 Barclays Bank PLC Wholesale 7/20/2015 2,884 - 2,884
USD 1,176,699 EUR 1,035,853 Credit Suisse International 7/20/2015 61,151 - 61,151
USD 3,350,357 EUR 2,899,616 Deutsche Bank AG London 7/20/2015 227,655 -   227,655
USD 1,460,075 EUR 1,273,942 HSBC Bank PLC 7/20/2015 88,120 - 88,120
USD 3,224,260 EUR 2,781,820 State Street Bank and Trust Company 7/20/2015 228,415 - 228,415
USD 17,500,331 GBP 11,441,900 Bank of America, N.A. 8/19/2015 542,242 - 542,242
USD 12,097,216 GBP 7,906,255   Credit Suisse International 8/19/2015 379,322 - 379,322
USD 642,303 GBP 418,064 Deutsche Bank AG London 8/19/2015 22,688 - 22,688
USD 12,068,974   GBP   7,888,218 HSBC Bank PLC   8/19/2015 377,812 - 377,812
USD 336,168 GBP 218,507 State Street Bank and Trust Company 8/19/2015 12,318 - 12,318
USD   2,164,593 KRW 2,405,465,283 Bank of America, N.A. 8/12/2015 4,430 - 4,430
  USD 2,322,574 KRW 2,581,206,300 Credit Suisse International 8/12/2015   4,594 - 4,594
USD 3,033,449 KRW 3,376,860,112 HSBC Bank PLC 8/12/2015 954 - 954
              $4,136,086   ($243,992)   $3,892,094

363


New Income Trust
The portfolio used forward foreign currency contracts to manage against anticipated changes in currency exchange rates, gain exposure to foreign currencies, to maintain diversity and liquidity of the portfolio, and as a substitute for securities purchased. The following table summarizes the contracts held at March 31, 2015.

                  Contractual          Net Unrealized
Settlement Unrealized Unrealized Appreciation/
Portfolio Contract to Buy Contract to Sell Counterparty Date Appreciation Depreciation (Depreciation)
New Income Trust EUR 3,990,000 USD 4,316,003 Deutsche Bank AG London 4/8/2015 - ($25,412) ($25,412)
EUR 1,880,000 USD 1,980,279 Royal Bank of Scotland PLC 4/8/2015 $41,353 - 41,353
EUR 3,770,000 USD 3,987,058 Royal Bank of Scotland PLC 4/28/2015 68,016 - 68,016
INR 269,975,000 USD 4,274,462 JPMorgan Chase Bank N.A. London 5/12/2015 6,107 - 6,107
MXN 120,295,000 USD 8,085,700 Morgan Stanley and Company 5/11/2015 - (218,001) (218,001)
International PLC
USD 6,268,958 AUD 8,270,000 Citibank N.A. London 6/12/2015 - (4,799) (4,799)
USD 3,621,274 BRL 10,690,000 Credit Suisse International 6/2/2015 329,764 - 329,764
USD 1,461,251 BRL 4,580,000 Morgan Stanley and Company 6/2/2015 51,044 - 51,044
International PLC
USD 4,311,699 CAD 5,215,000 Canadian Imperial Bank of Commerce 4/22/2015 195,233 - 195,233
USD 7,006,168 EUR 5,870,000 Bank of America, N.A. 4/8/2015 693,945 - 693,945
USD 4,252,439 EUR 3,770,000 State Street Bank London 4/28/2015 197,367 - 197,367
USD 4,223,388 EUR 3,900,000 Deutsche Bank AG London 7/1/2015 24,672 - 24,672
USD 2,093,123 GBP 1,420,000 Morgan Stanley and Company 6/17/2015 - (12,212) (12,212)
International PLC -
USD 4,282,328 JPY 506,700,000 State Street Bank London 4/28/2015 56,028 - 56,028
USD 3,531,612 MXN 54,770,000 Royal Bank of Scotland PLC 5/11/2015 - (50,531) (50,531)
USD 4,305,375 SGD 5,750,000 Westpac Banking Corporation 4/23/2015 117,516 - 117,516
   USD    2,556,925    ZAR    32,060,000    Barclays Bank PLC Wholesale    6/12/2015    -    (55,626)    (55,626)
$1,781,045 ($366,581) $1,414,464

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, to maintain diversity and liquidity of the portfolio, and as a substitute for securities purchased. The following table summarizes the contracts held at March 31, 2015.

            Contractual       Net Unrealized
Settlement Unrealized Unrealized Appreciation/
Portfolio Contract to Buy Contract to Sell Counterparty Date Appreciation Depreciation (Depreciation)
Real Return Bond Trust   BRL 688,995 USD 210,000 BNP Paribas SA 4/2/2015 $5,881 - $5,881
BRL 687,900 USD 214,433 Credit Suisse International 4/2/2015 1,105 - 1,105
BRL 4,406,137   USD 1,508,175 JPMorgan Chase Bank 4/2/2015 - ($127,611) (127,611)
BRL 4,406,137 USD   1,359,080 JPMorgan Chase Bank 5/5/2015   10,131 - 10,131
BRL 448,633 USD 165,364 Deutsche Bank AG London 7/2/2015 - (28,577)   (28,577)
CAD 215,000 USD 169,802   JPMorgan Chase Bank N.A. 4/2/2015 - (51) (51)
EUR 52,000 USD 55,136 Bank of America, N.A.   4/2/2015 777 - 777
EUR 242,000 USD 274,244 Citibank N.A. 4/2/2015 - (14,033) (14,033)
EUR 281,000 USD 315,410 Goldman Sachs Bank USA 4/2/2015 - (13,265) (13,265)
GBP 1,704,000 USD 2,531,828 Goldman Sachs Bank USA 4/2/2015 - (4,115) (4,115)
INR 110,482,558 USD 1,734,420 JPMorgan Chase Bank 4/13/2015 27,768 - 27,768
INR 27,299,535 USD 433,188 Goldman Sachs Bank USA 5/18/2015 - (882) (882)
INR 48,969,174 USD 770,380 UBS AG 6/26/2015 - (1,247) (1,247)
JPY 215,800,000 USD 1,805,390 Bank of America, N.A. 4/2/2015 - (6,082) (6,082)
MXN 1,305,000 USD 88,913 Bank of America, N.A. 5/5/2015 - (3,527) (3,527)
MXN 8,713,290 USD 570,000 Nomura Global Financial Products, 5/5/2015 105 - 105
Inc.

364


MYR      1,849,186      USD      512,382      Bank of America, N.A.      4/13/2015      -      (13,583)      (13,583)
PLN 572,286 USD 152,394 JPMorgan Chase Bank 7/30/2015 - (1,961) (1,961)
USD 403,259 AUD 519,000 Citibank N.A. 4/2/2015 7,963 - 7,963
USD 214,774 BRL 688,995 BNP Paribas SA 4/2/2015 - (1,107) (1,107)
USD 210,000 BRL 687,900 Credit Suisse International 4/2/2015 - (5,538) (5,538)
USD 1,370,494 BRL 4,406,137 JPMorgan Chase Bank 4/2/2015 - (10,070) (10,070)
USD 1,400,000 BRL 4,527,160 JPMorgan Chase Bank 4/4/2016 121,700 - 121,700
USD 411,854 CAD 515,000 Citibank N.A. 4/2/2015 5,241 - 5,241
USD 264,212 EUR 248,000 BNP Paribas SA 4/2/2015 - (2,450) (2,450)
USD 319,145 EUR 289,000 Goldman Sachs Bank USA 4/2/2015 8,398 - 8,398
USD 251,509 EUR 237,000 JPMorgan Chase Bank N.A. 4/2/2015 - (3,326) (3,326)
USD 12,157,709 EUR 10,767,000 Bank of America, N.A. 4/7/2015 579,720 - 579,720
USD 221,156 EUR 201,000 Bank of America, N.A. 5/6/2015 4,934 -   4,934
USD 119,345 EUR 110,000 BNP Paribas SA 5/6/2015 1,015 - 1,015
USD 119,137 GBP 80,000 BNP Paribas SA 4/2/2015 465 - 465
USD 2,421,267 GBP 1,561,000 Deutsche Bank AG London 4/2/2015 105,680 - 105,680
USD 93,470 GBP   63,000 UBS AG 4/2/2015 16 - 16
USD 2,260,860 GBP 1,500,000 Bank of America, N.A. 4/7/2015 35,835 - 35,835
USD 2,441,057 GBP 1,644,000 Goldman Sachs Bank USA 5/6/2015 2,891 - 2,891
USD 435,886 INR 27,299,535 Goldman Sachs Bank USA 4/13/2015 461 - 461
USD   781,008 INR 48,969,174 UBS AG 4/13/2015 - (47) (47)
USD 1,806,901 JPY 215,800,000 Bank of America, N.A. 4/2/2015 7,593 - 7,593
USD 1,806,140 JPY 215,800,000 Bank of America, N.A. 5/8/2015 5,946 - 5,946
USD 316,350 KRW 348,728,000   Credit Suisse International 5/18/2015 2,493 - 2,493
USD 167,217 MXN 2,454,331 Credit Suisse International 4/22/2015   6,489 - 6,489
USD 11,701 MXN 179,000 Bank of America, N.A.   5/5/2015 - (11) (11)
USD 72,888   MXN 1,085,000 Barclays Bank PLC Wholesale 5/5/2015 1,898 - 1,898
USD 468,946 MXN 7,037,590 Citibank N.A. 5/5/2015 8,480 - 8,480
USD 160,536 MXN 2,435,008 Credit Suisse International 5/5/2015 1,215 - 1,215
USD 350,000 MXN 5,258,225 Deutsche Bank AG London 5/5/2015 5,958 - 5,958
USD 134,028 MXN 2,027,000 HSBC Bank USA 5/5/2015 1,402 - 1,402
USD 781,578 MXN 11,931,563 Bank of America, N.A. 6/9/2015 2,700 - 2,700
USD 502,543 MYR 1,837,547 Barclays Capital 4/13/2015 6,883 - 6,883
USD 507,219 NZD 675,000 Bank of America, N.A. 4/2/2015 2,589 - 2,589
$973,732 ($237,483) $736,249

365


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 March 31, 2015.

Contractual     Net Unrealized
Settlement   Unrealized Unrealized Appreciation/
Portfolio Contract to Buy     Contract to Sell Counterparty Date Appreciation Depreciation (Depreciation)
Strategic Income Opportunities Trust AUD   18,250,000 CAD 17,732,963     Bank of Nova Scotia 5/12/2015 - ($125,207) ($125,207)
AUD 4,315,000 CAD 4,204,104 Citibank N.A. 5/12/2015 - (38,562) (38,562)
CAD 5,987,292 AUD 6,095,000 Bank of Nova Scotia 5/12/2015 $93,084 - 93,084
CAD 4,560,000 MXN 54,835,368 Bank of Nova Scotia 5/12/2015 12,239 - 12,239
CAD 7,260,000 MXN 87,438,156 Royal Bank of Scotland PLC 5/12/2015 10,692 - 10,692
CAD 1,167,247 NZD 1,220,000 Royal Bank of Canada 5/12/2015 12,584 - 12,584
CAD 23,254,695 USD 18,270,000 Bank of Nova Scotia   4/1/2015 90,661 - 90,661
CAD 1,005,634 USD 788,423 Bank of Montreal 5/12/2015 5,150 - 5,150
CAD 34,737,442 USD 27,560,000 Bank of Nova Scotia 5/12/2015 - (147,727) (147,727)
CAD 96,297,308 USD 76,335,000 Royal Bank of Canada 5/12/2015 - (344,141) (344,141)
CAD 6,243,326 USD 4,980,000 Standard Chartered Bank 5/12/2015 - (53,219) (53,219)
EUR 10,405,000 JPY 1,362,919,750 Standard Chartered Bank 5/12/2015 - (176,131) (176,131)
EUR 9,125,000 USD 9,891,591   Citibank N.A. 5/12/2015 - (74,769) (74,769)
EUR 9,130,000 USD 9,932,640 Deutsche Bank AG London 5/12/2015 - (110,439) (110,439)
JPY 1,366,051,640   EUR 10,405,000 HSBC Bank USA 5/12/2015 202,258 - 202,258
JPY 300,625,000 USD   2,500,000 Standard Chartered Bank 5/12/2015 7,929 - 7,929
MXN 55,263,552 CAD 4,560,000 Bank of Nova Scotia 5/12/2015 15,763 - 15,763
MXN 88,454,538 CAD 7,260,000 Royal Bank of Scotland PLC 5/12/2015 55,778 - 55,778
MXN 110,254,004 USD 7,332,912 Royal Bank of Canada 5/12/2015 - (122,403) (122,403)
NZD 9,080,000 CAD 8,647,346 Bank of Nova Scotia 5/12/2015 - (62,064) (62,064)
NZD 19,085,000 CAD 17,941,582 Royal Bank of Canada 5/12/2015 54,232 - 54,232
NZD 9,465,000 JPY 859,030,778 Royal Bank of Canada 5/12/2015 - (117,863) (117,863)
USD 24,248,076 AUD 31,229,009 Australia and New Zealand Banking Group 5/12/2015 516,831 - 516,831
USD 18,270,000 CAD 23,153,571 Bank of Nova Scotia 4/1/2015 - (10,819) (10,819)
USD 32,085,000 CAD 40,475,782 Bank of Nova Scotia 5/12/2015 144,445 - 144,445
USD 53,385,000 CAD 67,123,245 Royal Bank of Canada 5/12/2015 416,196 - 416,196
USD 4,980,000 CAD 6,209,363 Standard Chartered Bank 5/12/2015 80,022 - 80,022
USD 52,959,673 CAD 66,016,976 Toronto Dominion Bank 5/12/2015 863,858 - 863,858
USD 9,982,294 EUR 9,125,000 Citibank N.A. 5/12/2015 165,472 - 165,472
USD 22,156,295 EUR 19,810,000 Deutsche Bank AG London 5/12/2015 844,379 - 844,379
USD 2,940,010 GBP 1,905,213 Deutsche Bank AG London 5/12/2015 114,570 - 114,570
USD 2,500,000 JPY 299,182,500 Standard Chartered Bank 5/12/2015 4,105 - 4,105
USD 9,159,532 NOK 69,111,415 Citibank N.A. 5/12/2015 589,248 - 589,248
USD 594,888 NZD 813,800 Australia and New Zealand Banking Group 5/12/2015 - (11,142) (11,142)
USD 30,921,697 NZD 41,437,526 Toronto Dominion Bank 5/12/2015 63,543 - 63,543
USD 1,308,250 SEK 10,910,808 Bank of Montreal 5/12/2015 40,595 - 40,595
USD 9,243,097 SEK 77,651,256 Citibank N.A. 5/12/2015 221,308 - 221,308
USD 33,212,205 SGD 45,251,630 Bank of Montreal 5/12/2015 269,908 - 269,908
              $4,894,850   ($1,394,486)   $3,500,364

366


Total Return Trust
The portfolio used forward foreign currency contracts to manage against anticipated changes in currency exchange rates, gain exposure to foreign currencies, to maintain diversity and liquidity of the portfolio, and as a substitute for securities purchased. The following table summarizes the contracts held at March 31, 2015.

            Contractual       Net Unrealized
Settlement Unrealized Unrealized Appreciation/
Portfolio Contract to Buy     Contract to Sell     Counterparty Date Appreciation Depreciation (Depreciation)
Total Return Trust AUD 3,079,000 USD 2,347,313 Bank of America, N.A. 4/2/2015 -   ($2,192) ($2,192)
AUD 1,603,000 USD 1,235,555 Citibank N.A. 4/2/2015 - (14,630) (14,630)
AUD 1,636,000 USD 1,290,825 UBS AG 4/2/2015 - (44,766) (44,766)
BRL 10,735,861 USD 3,495,449 BNP Paribas SA 4/2/2015 - (131,609) (131,609)
BRL 3,006,191 USD 991,126 Deutsche Bank AG London 4/2/2015 - (49,203) (49,203)
BRL 17,183,224 USD 5,356,367 HSBC Bank USA 4/2/2015 $27,608 - 27,608
  BRL 22,798,055   USD   7,131,808   JPMorgan Chase Bank 4/2/2015 11,447 - 11,447
BRL 4,404,712 USD 1,373,040 UBS AG   4/2/2015 7,077 - 7,077
BRL 14,528,360 USD 4,664,000 Credit Suisse International 4/6/2015 - (116,345) (116,345)
BRL 11,211,102 USD 3,591,000 Goldman Sachs Bank USA 4/8/2015 - (83,436) (83,436)
BRL   14,528,360 USD 4,400,400 Citibank N.A. 5/5/2015 114,300 - 114,300
BRL 11,211,102 USD 3,369,227 Deutsche Bank AG London 5/5/2015 114,633 - 114,633
CAD 33,972,726 USD 27,145,606 Goldman Sachs Bank USA 4/2/2015 - (322,774) (322,774)
EUR 12,438,000 USD 14,094,741 Bank of America, N.A. 4/2/2015 - (720,777) (720,777)
EUR 11,077,000 USD 12,552,891 Citibank N.A. 4/2/2015 - (642,343) (642,343)
EUR 49,161,000 USD 55,881,621 Goldman Sachs Bank USA 4/2/2015 - (3,021,241) (3,021,241)
EUR 31,882,000 USD 35,044,216 UBS AG 5/6/2015 - (747,815) (747,815)
EUR 392,000 USD 512,423 Bank of America, N.A. 6/15/2015 - (90,500) (90,500)
EUR 1,845,000 USD 2,461,616 Barclays Bank PLC Wholesale 6/15/2015 - (475,783) (475,783)
EUR 1,767,000 USD 2,368,681 BNP Paribas SA 6/15/2015 - (466,801) (466,801)
EUR 4,350,000 USD 5,754,920 Citibank N.A. 6/15/2015 - (1,072,873) (1,072,873)

367


EUR     1,832,000     USD     2,382,113     Deutsche Bank AG London     6/15/2015     -     (410,272)     (410,272)
EUR 23,311,000 USD 31,210,084 Goldman Sachs Bank USA 6/15/2015 - (6,119,695) (6,119,695)
EUR 2,805,000 USD 3,750,566 JPMorgan Chase Bank N.A. 6/15/2015 -   (731,453) (731,453)
EUR 1,078,000 USD 1,420,713 UBS AG 6/15/2015 - (260,427) (260,427)
EUR 1,241,000 USD 1,676,033 Bank of America, N.A. 6/13/2016 - (327,825) (327,825)
EUR 4,463,000 USD 6,032,191 Deutsche Bank AG London 6/13/2016 - (1,183,641) (1,183,641)
GBP 688,000 USD 1,055,119 Citibank N.A. 4/2/2015 - (34,539) (34,539)
ILS 85,125,354 USD 21,632,873 Bank of America, N.A. 4/14/2015 - (240,712) (240,712)
INR 141,601,450 USD 2,253,724 UBS AG 4/13/2015 4,808 - 4,808
INR 136,640,010 USD 2,164,594 Citibank N.A. 6/26/2015 - (18,462) (18,462)
INR 163,939,820 USD 2,592,754 Goldman Sachs Bank USA 6/26/2015 - (17,838)   (17,838)
INR 78,991,200 USD 1,244,348 HSBC Bank USA 6/26/2015 - (3,675) (3,675)
JPY 6,618,450,000 USD 55,370,178 Bank of America, N.A. 4/2/2015 - (186,537) (186,537)
JPY 177,400,000 USD 1,461,869 Citibank N.A. 4/2/2015   17,266 - 17,266
JPY 1,883,100,000 USD 15,706,334 Goldman Sachs Bank USA 4/2/2015 - (5,330) (5,330)
JPY 147,400,000 USD 1,234,673 JPMorgan Chase Bank N.A. 4/2/2015 - (5,674) (5,674)
MXN 78,640,218 USD 5,225,611 BNP Paribas SA 4/1/2015 - (70,058) (70,058)
MXN 5,538,000 USD 377,317 Bank of America, N.A. 5/5/2015 - (14,970) (14,970)
MXN 83,196,653 USD 5,540,255 BNP Paribas SA 5/5/2015 - (96,750) (96,750)
MXN 67,211,000 USD 4,482,337 Citibank N.A. 5/5/2015 - (84,763) (84,763)
MXN 11,105,350 USD 738,000 Deutsche Bank AG London 5/5/2015 - (11,384) (11,384)
MXN 12,927,525 USD 868,998 Goldman Sachs Bank USA   5/5/2015 - (23,159) (23,159)
MXN 26,807,995 USD 1,759,704 HSBC Bank USA 5/5/2015 - (5,673) (5,673)
MXN 2,849,000   USD 192,707 JPMorgan Chase Bank N.A. 5/5/2015 - (6,299) (6,299)
MXN 61,173,553 USD 4,151,841 UBS AG 5/5/2015 - (149,294) (149,294)
USD   5,280,304 AUD 6,798,000 Citibank N.A. 4/2/2015 102,607 - 102,607
USD 3,359,541 BRL   10,735,861   BNP Paribas SA 4/2/2015 - (4,298) (4,298)
USD 943,000 BRL 3,006,191 Deutsche Bank AG London 4/2/2015 1,078 - 1,078
USD 5,922,289 BRL 17,183,224 HSBC Bank USA 4/2/2015 538,314 - 538,314
USD 7,323,161 BRL 22,798,055 JPMorgan Chase Bank 4/2/2015 179,906 - 179,906
USD 1,395,000 BRL 4,404,712 UBS AG 4/2/2015 14,883 - 14,883
USD 4,435,463 BRL 14,528,360 Citibank N.A. 4/6/2015 - (112,191) (112,191)
USD 3,393,191 BRL 11,211,102 Deutsche Bank AG London 4/8/2015 - (114,373) (114,373)
USD 5,661,963 BRL 18,356,085 JPMorgan Chase Bank 5/5/2015 - (42,206) (42,206)
USD 2,771,481 BRL 7,519,027 Deutsche Bank AG London 7/2/2015 478,955 - 478,955
USD 27,247,193 CAD 33,972,726 Royal Bank of Canada 4/2/2015 424,361 - 424,361
USD 27,133,248 CAD 33,972,726 Goldman Sachs Bank USA 5/6/2015 322,100 - 322,100

368


USD    198,582    CHF    183,000    Goldman Sachs Bank USA    5/12/2015    9,968    -    9,968
USD 2,940,561 EUR 2,687,000 Bank of America, N.A. 4/2/2015 51,364 - 51,364
USD 10,315,496 EUR 9,712,000 BNP Paribas SA 4/2/2015 - (127,334) (127,334)
USD 3,829,105 EUR 3,547,000 Citibank N.A. 4/2/2015 15,192 - 15,192
USD 19,038,843 EUR 17,524,000 Goldman Sachs Bank USA 4/2/2015 196,156 - 196,156
USD 7,902,994 EUR 7,324,000 JPMorgan Chase Bank N.A. 4/2/2015 27,861 - 27,861
USD 35,028,753 EUR 31,882,000 UBS AG 4/2/2015 747,623 - 747,623
USD 86,474,767 EUR 76,583,000 Bank of America, N.A. 4/7/2015 4,123,401 - 4,123,401
USD 17,510,675 EUR 12,879,000 Bank of America, N.A. 6/15/2015 3,648,587 - 3,648,587
USD 9,996,652 EUR 7,358,000   Barclays Bank PLC Wholesale 6/15/2015 2,076,997 - 2,076,997
USD 7,933,712 EUR 5,850,000 BNP Paribas SA 6/15/2015 1,637,166 - 1,637,166
USD 11,618,133 EUR 8,499,000 Citibank N.A. 6/15/2015 2,470,382 - 2,470,382
USD 14,459,122 EUR 10,653,000 Credit Suisse International 6/15/2015 2,992,950 - 2,992,950
USD 9,361,569 EUR 7,000,000 Bank of America, N.A. 8/7/2015 1,820,727   - 1,820,727
USD 936,551 EUR 700,000 Deutsche Bank AG London 8/7/2015 182,467 - 182,467
USD 42,952,544 EUR 31,406,000 Bank of America, N.A. 6/13/2016 8,833,445 - 8,833,445
USD 15,387,070 EUR 11,238,000 Deutsche Bank AG London 6/13/2016   3,178,242 - 3,178,242
USD 9,724,508 EUR 7,063,000 Bank of America, N.A. 6/27/2016 2,046,931 - 2,046,931
USD 10,747,391 EUR 7,816,000 Barclays Bank PLC Wholesale 6/27/2016 2,251,292 - 2,251,292
USD 1,585,916   GBP   1,061,000 Bank of America, N.A. 4/2/2015 12,028 - 12,028
USD 5,145,717 GBP 3,414,000 Bank of America, N.A. 4/7/2015 81,560 - 81,560
USD 16,851,716 ILS 66,665,603 Bank of America, N.A. 4/14/2015 98,525 - 98,525
USD 292,499 ILS 1,165,000 BNP Paribas SA 4/14/2015 - (268) (268)
USD   745,000 ILS 2,928,818 Deutsche Bank AG London   4/14/2015 8,982 - 8,982
USD 3,636,000 ILS 14,365,933 Goldman Sachs Bank USA 4/14/2015 25,814 - 25,814
USD 24,353,287 ILS 95,798,516 Bank of America, N.A. 6/11/2015 276,320 - 276,320
USD 920,015 ILS 3,668,558 Barclays Bank PLC Wholesale 6/11/2015 - (2,001) (2,001)
USD 3,649,424 INR 232,468,314 JPMorgan Chase Bank 4/13/2015 - (58,426) (58,426)
USD 70,323,869 JPY 8,398,850,000 Bank of America, N.A. 4/2/2015 295,520 - 295,520
USD 3,544,945 JPY 427,500,000 JPMorgan Chase Bank N.A. 4/2/2015 - (19,486) (19,486)
USD 55,393,187 JPY 6,618,450,000 Bank of America, N.A. 5/8/2015 182,370 - 182,370
USD 1,588,000 MXN 23,940,688 Deutsche Bank AG London 4/1/2015 18,479 - 18,479
USD 1,886,000 MXN 28,516,320 Goldman Sachs Bank USA 4/1/2015 16,506 - 16,506
USD 1,631,000 MXN 25,202,783 JPMorgan Chase Bank N.A. 4/1/2015 - (21,262) (21,262)
USD 65,000 MXN 980,428 Nomura Global Financial Products, Inc. 4/1/2015 723 - 723
USD 28,253,763 MXN 414,694,600 Credit Suisse International 4/22/2015 1,096,452 - 1,096,452
USD 1,238,000 MXN 18,494,977 Deutsche Bank AG London 4/30/2015 27,471 - 27,471
  USD 151,000 MXN 2,260,319 JPMorgan Chase Bank N.A. 4/30/2015 3,058 - 3,058
USD 1,202,000 MXN 18,057,406 Nomura Global Financial Products, Inc. 4/30/2015 20,112 - 20,112
USD 1,400,521 MXN 20,849,000 Barclays Bank PLC Wholesale 5/5/2015 36,384 - 36,384
USD 5,213,486 MXN 78,640,218 BNP Paribas SA 5/5/2015 68,106 - 68,106
USD 2,528,678 MXN 38,726,313 Citibank N.A. 5/5/2015 - (5,160) (5,160)
USD 1,027,550 MXN 15,445,000 HSBC Bank USA 5/5/2015 16,993 - 16,993
$40,955,497 ($18,518,523) $22,436,974

369


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 March 31, 2015.

Contractual Net Unrealized
Settlement Unrealized Unrealized Appreciation/
Portfolio    Contract to Buy     Contract to Sell     Counterparty     Date      Appreciation     Depreciation     (Depreciation)
Utilities Trust EUR    1,815,337 USD    2,033,235 Barclays Bank PLC Wholesale 4/10/2015 - ($81,086) ($81,086)
EUR 39,166 USD 44,407 BNP Paribas SA 4/10/2015 - (2,290)   (2,290)
EUR 501,538 USD 555,596 Credit Suisse International 4/10/2015 - (16,261) (16,261)
EUR 1,446,306 USD 1,565,388 Deutsche Bank AG London 4/10/2015 - (10,081) (10,081)
EUR 91,421 USD 96,836 JPMorgan Chase Bank N.A. 4/10/2015 $1,476   - 1,476
EUR 346,295 USD 387,769 Merrill Lynch International   4/10/2015 - (15,377) (15,377)
GBP 72 USD 107   Barclays Bank PLC Wholesale 4/10/2015 -
GBP 582,557 USD 883,201 Credit Suisse International 4/10/2015   - (19,082) (19,082)
GBP 196,285 USD 299,075 Deutsche Bank AG London 4/10/2015 - (7,922) (7,922)
GBP 43,399 USD 67,039 Goldman Sachs International 4/10/2015 - (2,665) (2,665)
GBP 221,824 USD   333,817 JPMorgan Chase Bank N.A. 4/10/2015 - (4,781) (4,781)
  GBP 52,068 USD 79,995 Merrill Lynch International 4/10/2015 - (2,762) (2,762)
GBP 63,373 USD 98,196 Morgan Stanley
Capital Services, Inc.		 4/10/2015 - (4,194) (4,194)
USD 1,728,603   EUR   1,534,221 Barclays Bank PLC Wholesale 4/10/2015 78,757 - 78,757
USD 2,798,196 EUR 2,344,237 Citibank N.A. 4/10/2015 277,286 - 277,286
USD   672,850 EUR 577,513 Credit Suisse International 4/10/2015 51,813 - 51,813
USD 6,745,746 EUR 5,653,357 Deutsche Bank AG London 4/10/2015 666,327 - 666,327
USD 12,794,834 EUR 10,760,011 Goldman Sachs International 4/10/2015 1,223,905 - 1,223,905
USD 17,330,652 EUR 14,746,021 JPMorgan Chase Bank N.A. 4/10/2015 1,473,308 - 1,473,308
USD 1,981,783 EUR 1,690,212 Merrill Lynch International 4/10/2015 164,190 - 164,190
USD 480,243 EUR 402,541 Morgan Stanley
Capital Services, Inc.		 4/10/2015 47,365 - 47,365
USD 3,259,473 EUR 2,733,310 UBS AG 4/10/2015 320,168 - 320,168
USD 4,372,622 EUR 4,160,182 Deutsche Bank AG London 6/17/2015 - (105,254) (105,254)
USD 303,208 GBP 199,285 Barclays Bank PLC Wholesale 4/10/2015 7,604 - 7,604
USD 4,380,726 GBP 2,876,210 Credit Suisse International 4/10/2015 114,386 - 114,386
USD 115,394 GBP 76,394 Goldman Sachs International 4/10/2015 2,078 - 2,078
USD 4,380,698 GBP 2,876,210 Merrill Lynch International 4/10/2015 114,357 - 114,357
USD 745,796 GBP 485,000 Morgan Stanley
Capital Services, Inc.		 4/10/2015 26,386 - 26,386
                            $4,569,406   ($271,755)   $4,297,651

370


Currency Abbreviations
AUD       Australian Dollar       CZK       Czech Republic Koruna       JPY       Japanese Yen   PLN       Polish Zloty
BRL Brazilian Real DKK Danish Krone   KRW South Korean Won   RON Romanian New Leu
CAD Canadian Dollar EUR Euro   MXN Mexican Peso   RSD Serbian Dinar
CHF Swiss Franc   GBP   Pound Sterling   MYR   Malaysian Ringgit   SEK   Swedish Krona
CLP   Chilean Peso   IDR Indonesian Rupiah NGN Nigerian Naira SGD Singapore Dollar
CNY Chinese Yuan Renminbi ILS Israeli New Sheqel NOK Norwegian Krone USD U.S. Dollar
COP Colombian Peso INR Indian Rupee NZD New Zealand Dollar ZAR South African Rand

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 fund’s exposure to changes in the value of the underlying instrument. Buying puts and writing calls may decrease the fund’s exposure to such changes. Risks related to the use of options include the loss of premiums, 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 the fund purchases an option, the premium paid by the fund is included in the portfolio of investments and subsequently “marked-to-market” to reflect current market value. When the fund 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 March 31, 2015, Global Bond Trust Total Return Trust and Real Return Bond Trust used purchased options to gain exposure to foreign currency, 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. Strategic Income Opportunities Trust used purchased options to manage against anticipated changes in currency exchange rates.

The following tables summarize the portfolios’ written options activities during the period ended March 31, 2015 and the contracts held at March 31, 2015.

Number of
      Contracts/Notional       Premium Received
Capital Appreciation Value Trust
Outstanding, beginning of period 4,978 $1,158,922
Options written 1,022 301,674
Option closed   (414) (151,518)
Options exercised (2,035)   (416,442)
Options expired (596) (189,635)
Outstanding, end of period 2,955 $703,001

371


Global Bond Trust
Outstanding, beginning of period       115,900,000       $2,617,351
Options written 48,110,724 501,208
Option closed (14,760,000) (444,951)
Options exercised (3,900,124) (58,815)
Options expired (25,320,124) (129,987)
Outstanding, end of period 120,030,476 $2,484,806
  
Health Sciences Trust
Outstanding, beginning of period 119 $86,611
Options written 179 83,545
Option closed (23) (11,905)
Options expired (96) (74,706)
Outstanding, end of period 179 $83,545
  
Real Return Bond Trust
Outstanding, beginning of period 19,370,000 $246,267
Options written 13,769,038 168,914
Option closed (5,700,000) (44,664)
Options exercised (2,910,015) (19,845)
Options expired (5,700,023) (34,583)
Outstanding, end of period 18,829,000 $316,089
 
Total Return Trust
Outstanding, beginning of period 373,300,000 $3,235,874
Options written 410,602,857 2,170,365
Option closed (87,300,323) (1,013,852)
Options exercised (59,701,442) (767,739)
Options expired (165,501,092) (1,541,258)
Outstanding, end of period 471,400,000 $2,083,390

372


Options on Securities

Capital Appreciation Value Trust
The portfolio used written options to gain exposure to certain securities markets.

Exercise Expiration Number of
Portfolio Counterparty Name of Issuer Price Date Contracts Premium Value
Capital Appreciation Value Trust   CALLS (OTC)                  
Citigroup Global Market Pentair, Inc. $70.00 Nov 2015 10 $2,480 ($2,025)
Citigroup Global Market American Tower Corp 115.00 Jan 2016 35 9,249 (3,675)
Citigroup Global Market American Tower Corp. 110.00 Jan 2016 30 7,140 (5,325)
  Citigroup Global Market   American Tower Corp. 105.00 Jan 2016 18 6,449 (5,040)
Citigroup Global Market   Boeing Company 140.00 Jan 2016 7 3,232 (11,235)
Citigroup Global Market Cisco Systems, Inc.   25.00 Jan 2016 260 48,100 (90,350)
Citigroup Global Market   Comcast Corp. 70.00 Jan 2016 62 7,541 (3,968)
Citigroup Global Market Comcast Corp. 65.00 Jan 2016 348 54,510 (51,504)
  Citigroup Global Market Danaher Corp. 95.00 Jan 2016 31 10,777 (8,215)
Citigroup Global Market Danaher Corp. 100.00 Jan 2016   30 6,831 (4,650)
Citigroup Global Market Mondelez International, Inc. 45.00 Jan 2016 95 8,103 (3,325)
Citigroup Global Market Pfizer, Inc. 30.00 Jan 2016 364   67,055 (185,640)
Citigroup Global Market Thermo Fisher Scientific, Inc. 150.00 Jan 2016 70 23,793   (29,750)
Citigroup Global Market   United Technologies Corp.   120.00   Jan 2016 84 24,325 (50,610)
Citigroup Global Market United Technologies Corp. 130.00 Jan 2016 17 5,136 (4,395)
  Citigroup Global Market United Technologies Corp. 125.00 Jan 2016 18 8,046 (7,290)
Citigroup Global Market UnitedHealth Group, Inc. 100.00 Jan 2016 52 24,079 (115,310)
Citigroup Global Market UnitedHealth Group, Inc. 105.00 Jan 2016 52 16,465 (95,290)
Citigroup Global Market Wal-Mart Stores, Inc. 82.50 Jan 2016 62 15,965 (26,505)
Citigroup Global Market Wal-Mart Stores, Inc. 80.00 Jan 2016 63 22,806 (35,437)
Morgan Stanley Company, Inc. CVS Health Corp. 90.00 Jan 2016 66 16,687 (101,145)
Morgan Stanley Company, Inc. CVS Health Corp. 95.00 Jan 2016 66 10,097 (76,065)
Morgan Stanley Company, Inc. Lowes Companies, Inc. 60.00 Jan 2016 166 32,672 (266,845)
Morgan Stanley Company, Inc. Lowes Companies, Inc.   75.00 Jan 2016 58 7,136 (32,625)
Morgan Stanley Company, Inc. PepsiCo, Inc. 100.00 Jan 2016 99 24,860 (33,165)
Morgan Stanley Company, Inc. PepsiCo, Inc. 105.00 Jan 2016 57 11,678 (11,257)
Morgan Stanley Company, Inc. PepsiCo, Inc. 110.00 Jan 2016 94 15,708 (10,716)
Morgan Stanley Company, Inc. State Street Corp. 87.50 Jan 2016 124 22,912 (16,120)
CALLS (Exchange-Traded)
Google, Inc. 590.00 Jan 2016 22 52,401 (59,950)
Google, Inc. 590.00 Jan 2016 22 54,609 (66,000)
JPMorgan Chase & Co. 70.00 Jan 2016 344 37,711 (30,444)
Visa, Inc. 75.00 Jan 2016 63 15,499 (10,805)
Visa, Inc. 70.00 Jan 2016 66 28,949 (20,790)
2,955 $703,001 ($1,475,466)

373


Health Sciences Trust
The portfolio used written options to manage against changes in securities and to gain exposure to certain securities.

Exercise Expiration Number of
Portfolio Name of Issuer Price Date Contracts Premium Value
Health Sciences Trust       CALLS                              
Alkermes PLC $75.00 May 2015 54 $15,498 ($3,240)
  Chimerix, Inc.   45.00 May 2015 15   5,055 (1,200)
  Chimerix, Inc. 40.00   May 2015   10 5,070 (2,025)
Pharmacyclics, Inc. 190.00 May 2015 21 15,687 (140,490)
Pharmacyclics, Inc. 200.00 May 2015 32 19,108 (182,400)
Pharmacyclics, Inc. 230.00 May 2015 2 3,030 (5,550)
Incyte Corp. 90.00 Jun 2015 45 20,097 (45,000)
179 $83,545 ($379,905)

Options on Exchange-Traded Future Contracts

Global Bond Trust
The fund used written options to manage against anticipated interest rate changes, manage duration of the portfolio, and maintain diversity and liquidity of the portfolio.

Portfolio Name of Issuer Exercise
Price		 Expiration
Date		 Number of
Contracts		 Premium Value
Global Bond Trust       Calls
  Euro Bund         160.00       May 2015       132       $62,282       ($55,354)
        $62,282 ($55,354)
Puts    
Euro Bund 152.00 May 2015 108 $12,479 ($3,484)
Euro Schatz 111.10 May 2015 236 12,123 (6,344)
$24,602 ($9,828)

Foreign Currency Options (OTC)

Global Bond Trust
The portfolio used written options to manage against anticipated changes in currency exchange rates and gain exposure to foreign currencies.

Exercise Expiration Notional
Portfolio    Description    Counterparty    Rate    Date       Amount    Premium    Value
Global Bond Trust Calls
U.S. Dollar versus Chinese
Yuan Renminbi		   HSBC Bank USA 6.60 Feb 2016 USD 2,200,000 $24,690 ($13,418)
  U.S. Dollar versus Chinese
Yuan Renminbi		 JPMorgan Chase Bank 6.60 Feb 2016 USD 1,790,000 20,406 (10,917)
  $45,096 ($24,335)
Puts  
U.S. Dollar versus Japanese Yen Barclays Bank PLC   116.95 Apr 2015 USD   2,500,000   $16,850 ($7,333)
U.S. Dollar versus Japanese Yen   Barclays Bank PLC 97.00   Sep 2016 USD 2,100,000 42,189 (9,309)
U.S. Dollar versus Japanese Yen Citibank N.A. 96.00 Sep 2016   USD 3,100,000 73,455 (12,143)
U.S. Dollar versus Japanese Yen Bank of America N.A. 93.00 Sep 2016 USD 7,100,000 128,297 (18,957)
U.S. Dollar versus Japanese Yen Citibank N.A. 95.00 Sep 2016 USD 11,100,000 244,412 (38,351)
U.S. Dollar versus Japanese Yen Deutsche Bank AG 92.00 May 2016 USD 2,700,000 63,126 (3,162)
U.S. Dollar versus Japanese Yen Citibank N.A. 93.00 Apr 2016 USD 2,000,000 48,036 (2,204)
U.S. Dollar versus Japanese Yen Barclays Bank PLC 94.75 Apr 2016 USD 1,000,000 29,320 (1,473)
U.S. Dollar versus Japanese Yen Barclays Bank PLC 94.75 Apr 2016 USD 6,600,000 199,364 (9,722)
U.S. Dollar versus Japanese Yen Bank of America N.A. 80.00 Feb 2019 USD 540,000 24,408 (4,964)
U.S. Dollar versus Japanese Yen Bank of America N.A. 80.00 Feb 2019 USD 6,600,000 364,070 (59,532)
U.S. Dollar versus Japanese Yen HSBC Bank USA 116.95 Apr 2015 USD 11,800,000 77,290 (34,609)
$1,310,817 ($201,759)

374


Real Return Bond Trust
The portfolio used written options to manage against anticipated changes in currency exchange rates and gain exposure to foreign currencies.

Exercise Expiration Notional
Portfolio    Description    Counterparty    Rate    Date       Amount    Premium    Value
Real Return Bond Trust Calls
U.S. Dollar versus Brazilian Real Credit Suisse International 4.00 Mar 2016 USD 700,000 $29,590 ($27,090)
U.S. Dollar versus Brazilian Real Deutsche Bank AG 2.68 Jul 2015 USD   270,000 6,434 (49,474)
$36,024 ($76,564)
  Puts  
Euro versus U.S. Dollar Barclays Bank PLC 1.09 Apr 2015 EUR 100,000 $555 ($1,515)
Euro versus U.S. Dollar BNP Paribas 1.10   Apr 2015 EUR 20,000 97 (481)
Euro versus U.S. Dollar   BNP Paribas 1.08 Apr 2015 EUR 460,000   2,552 (5,646)
Euro versus U.S. Dollar BNP Paribas   1.03 Apr 2015 EUR 254,000 1,663 (547)
  Euro versus U.S. Dollar Citibank N.A. 1.06 Apr 2015 EUR 330,000 1,684 (1,607)
Euro versus U.S. Dollar Deutsche Bank AG 1.03 Apr 2015 EUR 295,000 1,856 (619)
$8,407 ($10,415)

Interest Rate Swaptions (OTC)
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, 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
Global Bond Trust Call  
    10-Year Interest Rate Swap   Goldman Sachs Capital Markets, L.P.   3-Month USD LIBOR Receive 1.95%   Jun 2015 USD 3,800,000 $20,140 ($34,430)
30-Year Interest Rate Swap Goldman Sachs Capital Markets, L.P.   6-Month EURIBOR Receive 0.75% Sep 2015   EUR   2,100,000 56,444 (101,526)
      $76,584 ($135,956)
Puts
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 ($49,407)
5-Year Interest Rate Swap Citibank N.A. 3-Month USD LIBOR Receive 2.50% Sep 2015 USD 15,100,000 284,623 (24,868)
10-Year Interest Rate Swap Goldman Sachs Capital Markets, L.P. 3-Month USD LIBOR Receive 2.55% Jun 2015 USD 3,800,000 24,130 (7,774)
30-Year Interest Rate Swap Goldman Sachs Capital Markets, L.P. 6-Month EURIBOR Receive 1.30% Sep 2015 EUR 2,100,000 60,872 (29,682)
$939,625 ($111,731)

375


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 Floating Exercise Expiration Notional
Portfolio    Description    Counterparty    Rate Index    Rate    Rate    Date         Amount     Premium     Value
Real Return Bond Trust Calls
    1-Year Interest Rate Swap   Morgan Stanley Capital Services, Inc. 3-Month LIBOR   Receive 0.66% Jan 2016 USD 1,500,000 1,500 (1,053)
  1-Year Interest Rate Swap Morgan Stanley Capital Services, Inc. 6-Month EURIBOR Receive   0.52% Jan 2016 EUR 1,500,000 $900 ($558)
30-Year Interest Rate Swap Deutsche Bank AG   3-Month LIBOR Receive 2.30%   May 2015   USD   2,300,000 36,260 (44,692)
30-Year Interest Rate Swap Goldman Sachs Capital Markets, L.P. 3-Month LIBOR Receive 0.75% Sep 2015 USD 900,000   24,190 (43,511)
  $62,850 ($89,814)
 
Puts
5-Year Interest Rate Swap Morgan Stanley Capital Services, Inc. 6-Month EURIBOR Receive 2.50% Dec 2017 EUR 4,200,000 $140,000 ($104,806)
30-Year Interest Rate Swap Goldman Sachs Capital Markets, L.P. 3-Month LIBOR Receive 1.30% Sep 2015 USD 900,000 26,088 (12,721)
$166,088 ($117,527)

376


Total Return Trust
The portfolio used interest rate swaptions to manage against anticipated interest rate changes, manage duration of the portfolio and maintain diversity and liquidity of the portfolio.

Pay/Receive
Floating Floating Exercise Expiration Notional
Portfolio    Description    Counterparty   Rate Index Rate Rate Date Amount Premium   Value
Total Return Trust   CALLS                             
1-Year Interest Rate Swap Morgan Stanley Company   3-Month USD LIBOR Receive 0.65% Jan 2016 USD 28,100,000 $30,910 ($18,931)
1-Year Interest Rate Swap Morgan Stanley Company 3-Month USD LIBOR Receive 0.50% Jan 2016 USD 28,100,000 16,860 (9,450)
1-Year Interest Rate Swap Morgan Stanley Company 3-Month USD LIBOR Receive 0.66% Jan 2016 USD 14,100,000 14,100 (9,900)
  1-Year Interest Rate Swap Morgan Stanley Company 3-Month USD LIBOR Receive 0.52% Jan 2016 USD 14,100,000   8,460 (5,248)
  2-Year Interest Rate Swap Bank of America 3-Month USD LIBOR Receive 0.92% Jan 2016 USD 76,000,000 185,440 (141,208)
  2-Year Interest Rate Swap Bank of America 3-Month USD LIBOR Receive 0.73% Jan 2016 USD 76,000,000 107,920 (74,320)
2-Year Interest Rate Swap Goldman Sachs & Company 3-Month USD LIBOR Receive 0.70% Jan 2016 USD   14,300,000 21,450 (12,091)
2-Year Interest Rate Swap Goldman Sachs & Company 3-Month USD LIBOR Receive 0.90% Jan 2016 USD 14,300,000 38,610 (25,119)
2-Year Interest Rate Swap   JPMorgan Securities 3-Month USD LIBOR Receive 1.10%   Jan 2018   USD 14,000,000 72,800 (56,312)
2-Year Interest Rate Swap JPMorgan Securities 3-Month USD LIBOR Receive 1.60% Jan 2018 USD 14,000,000 126,700 (101,984)
3-Year Interest Rate Swap Goldman Sachs & Company 3-Month USD LIBOR Receive   1.00% Jul 2015 USD 14,400,000 43,200 (22,736)
3-Year Interest Rate Swap Goldman Sachs & Company 3-Month USD LIBOR Receive 0.85% Jul 2015 USD 14,400,000 24,480 (10,037)
5-Year Interest Rate Swap Morgan Stanley Company   3-Month USD LIBOR   Receive 1.10% Jan 2016 USD 7,100,000 26,980 (21,340)
5-Year Interest Rate Swap Morgan Stanley Company 3-Month USD LIBOR Receive 1.30% Jan 2016 USD 7,100,000 41,180 (35,284)
10-Year Interest Rate Swap Citibank, N.A. 3-Month USD LIBOR Receive 1.43% Jul 2015 USD 3,500,000 20,913 (8,127)
10-Year Interest Rate Swap Citibank, N.A. 3-Month USD LIBOR Receive 1.59% Jul 2015 USD 3,500,000 32,550 (13,817)
10-Year Interest Rate Swap Morgan Stanley Company 3-Month USD LIBOR Receive 1.54% Jan 2016 USD 7,100,000 71,000 (55,077)
10-Year Interest Rate Swap Morgan Stanley Company 3-Month USD LIBOR Receive 1.33% Jan 2016 USD 7,100,000 45,085 (33,564)
$928,638 ($654,545)
PUTS
2-Year Interest Rate Swap Goldman Sachs Bank USA 3-Month USD LIBOR Receive 2.80% Jan 2018 USD 6,700,000 $83,750 ($48,901)
5-Year Interest Rate Swap Morgan Stanley Capital Services, Inc. 3-Month USD LIBOR Receive 2.60% Sep 2015 USD 22,100,000 290,062 (24,020)
5-Year Interest Rate Swap Morgan Stanley Capital Services, Inc. 3-Month USD LIBOR Receive 2.52% Sep 2015 USD 43,400,000 379,750 (65,951)
$753,562 ($138,872)

Credit Default Swaptions (OTC)
A credit default swaption is an option to enter into a credit default swap.

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   Bank of America NA CDX.IG23   Sell   1.00% Apr 2015   USD   400,000 $575 -
5-Year Credit Default Swap Barclays Bank PLC CDX.IG23 Sell 1.00% Apr 2015 USD 200,000   315 -
$890 -

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”.

377


Global Bond Trust
The portfolio used inflation floors to manage against anticipated interest rate changes.

Portfolio    Description    Counterparty   Initial Index   Exercise Index   Expiration Date     Notional Amount    Premium   Value
Global Bond Trust   Floor- OTC CPURNSA Index   Citibank 217.965 Maximum of ((1+0.0%)10-
(Index Final/Index Initial)) or $0		 Sep 2020 USD 2,000,000 $25,800 ($1,237)
                                $25,800   ($1,237)

Real Return Bond Trust
The portfolio used inflation floors to manage against anticipated interest rate changes.

Portfolio   Description   Counterparty   Initial Index Exercise Index   Expiration Date     Notional Amount   Premium   Value
Real Return Bond Trust Floor-OTC CPURNSA Index   Citibank N.A. 216.687 Maximum of ((1+0.0%)10 -
(Index Final/Index Initial)) or $0		 Apr 2020 USD 2,600,000 $23,160 ($1,549)
Floor-OTC CPURNSA Index BNP Paribas 236.293 Maximum of ((1+0.0%)10 -
(Index Final/Index Initial)) or $0		 Mar 2018 USD 100,000 860 (781)
  Floor-OTC CPURNSA Index JPMorgan
Chase Bank		 234.812 Maximum of ((1+0.0%)10 -
(Index Final/Index Initial)) or $0		 Mar 2020 USD 900,000 10,170 (12,584)
Floor-OTC CPURNSA Index Citibank N.A. 217.965 Maximum of ((1+0.0%)10 -
(Index Final/Index Initial)) or $0		 Sep 2020 USD 200,000 2,580 (124)
$36,770 ($15,037)

Total Return Trust
The portfolio used inflation floors to manage against anticipated interest rate changes.

Portfolio   Description   Counterparty   Initial Index   Exercise Index   Expiration Date     Notional Amount   Premium   Value
Total Return Trust Floor- OTC CPURNSA Index Citibank N.A. 215.949 Maximum of ((1+0.0%)10 -
(Index Final/Index Initial)) or $0		 Mar 2020 USD 7,500,000 63,460 (4,271)
Floor- OTC CPURNSA Index Citibank N.A. 216.687 Maximum of ((1+0.0%)10 -
(Index Final/Index Initial)) or $0		 Apr 2020 USD 17,900,000 159,640 (10,667)
Floor- OTC CPURNSA Index Citibank N.A. 217.965 Maximum of ((1+0.0%)10 -
(Index Final/Index Initial)) or $0		 Sep 2020 USD 6,900,000 89,010 (4,268)
Floor- OTC CPURNSA Index Deutsche Bank
AG		 215.949 Maximum of ((1+0.0%)10 -
(Index Final/Index Initial)) or $0		 Mar 2020 USD 2,600,000 19,500 (1,481)
Floor- OTC CPURNSA Index Deutsche Bank
AG		 218.011 Maximum of ((1+0.0%)10 -
(Index Final/Index Initial)) or $0		 Oct 2020 USD 7,100,000 69,580 (4,548)
$401,190 ($25,235)

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”.

378


Real Return Bond Trust
The portfolio used inflation caps to manage against anticipated interest rate changes.

            Expiration   Notional    
Portfolio Description Counterparty Initial Index Exercise Index Date   Amount Premium Value
Real Return Bond Trust Floor-OTC CPURNSA Index JPMorgan Chase Bank 233.916 Maximum of ((1+0.0%)10 - (Index
Final/Index Initial)) or $0		 Apr 2024 USD    600,000 $4,365 ($1,690)
Floor-OTC CPURNSA Index JPMorgan Chase Bank 234.781 Maximum of ((1+0.0%)10 - (Index
Final/Index Initial)) or $0		 May 2024 USD 100,000 695 (291)
$5,060 ($1,980)

Swaps. Swap agreements are agreements between the fund 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 fund are amortized/accreted for financial reporting purposes. A termination payment by the counterparty or the fund is recorded as realized gain or loss, as well as the net periodic payments received or paid by the fund.

Entering into swap agreements involves, to varying degrees, elements of credit, market and documentation risk that may 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. The fund may also suffer losses if it is unable to terminate or assign outstanding swaps or reduce its exposure through offsetting transactions.

Interest rate swaps. Interest rate swaps represent an agreement between the fund and a counterparty to exchange cash flows based on the difference between two interest rates applied to a notional amount. The payment flows are usually netted against each other, with the difference being paid by one party to the other. The fund settles accrued net interest receivable or payable under the swap contracts at specified, future intervals.

The following tables summarize the interest rate swap contracts held as of March 31, 2015. In addition, the tables detail how the portfolios used interest rate swap contracts during the period ended March 31, 2015.

Global Bond Trust
The portfolio used interest rate swaps to manage against interest rate changes, manage duration and as a substitute for securities purchased.

Unamortized
      Payments Upfront Unrealized
  Notional USD Notional Payments Made Received by Maturity Payment Paid Appreciation Market
Portfolio Counterparty Amount Currency   Amount   by Portfolio   Portfolio   Date   (Received)   (Depreciation)   Value
Global Bond
Trust
Goldman Sachs International 1,112,297 BRL $989,749 Fixed 11.680% BRL-CDI Jan 2021 $20,971 $3,536 $24,507
JPMorgan Chase Bank N.A. 12,166,268 BRL 5,190,967 BRL-CDI Fixed 11.320% Jan 2016 (1,972) (18,282) (20,254)
Exchanged
Cleared Swaps
636,200,000 MXN 46,638,654 MXN-TIIE-
Banxico		 Fixed 4.300% Sep 2016 3,444 13,744 17,188
9,300,000 USD 9,300,000 Fixed 0.750% USD-LIBOR-BBA Dec 2016 21,922 (47,778) (25,856)
3,800,000 USD 3,800,000 Fixed 1.000% USD-LIBOR-BBA Dec 2016 (4,269) (25,273) (29,542)
9,900,000 USD 9,900,000 Fixed 1.250% USD-LIBOR-BBA Mar 2017 (9,900) (82,040) (91,940)

379


29,600,000   USD   29,600,000   Fixed 1.250%   USD-LIBOR-BBA   Jun 2017   96,984   (278,169)   (181,185)
67,100,000 EUR 70,993,838 Fixed 0.150% EUR-EURIBOR-
Reuters		 Sep 2017 (52,618) (24,336) (76,954)
48,900,000 GBP 72,525,996 Fixed 1.500% GBP-LIBOR-BBA Sep 2017 (512,679) (148,667) (661,346)
2,600,000 AUD 2,105,089 AUD-BBR-BBSW Fixed 3.00% Jun 2020 32,611 31,250 63,861
200,000 EUR 211,490 EUR-EURIBOR-
Reuters		 Fixed 0.350% Sep 2020 164 440 604
  7,400,000 GBP 11,074,098 GBP-LIBOR-BBA Fixed 1.50% Sep 2020 (5,526) 27,721 22,195
2,300,000 GBP 3,820,071 Fixed 3.000% GBP-LIBOR-BBA Jan 2021 (91,788) (712,743) (804,531)
10,000,000 MXN 770,342 MXN-TIIE-
Banxico		 Fixed 5.640% Jun 2021 - 2,599 2,599
55,100,000 USD 55,100,000 Fixed 2.500% USD-LIBOR-BBA Jun 2021 (255,624) (2,752,872) (3,008,496)
27,200,000 MXN 2,106,935 MXN-TIIE-
Banxico		 Fixed 5.630% Jul 2021 1,053 2,741 3,794
6,770,000,000 JPY 56,690,097 Fixed 5.000% JPY-LIBOR-BBA Sep 2021 (694,207) 187,661 (506,546)
1,400,000 SEK 171,033 SEK-STIBOR-
SIDE		 Fixed 1.020% Jan 2025 - 1,247 1,247
3,000,000 SEK 366,499 SEK-STIBOR-
SIDE		 Fixed 1.030% Jan 2025 - 3,078 3,078
1,700,000 SEK 207,683 SEK-STIBOR-
SIDE		 Fixed 1.010% Jan 2025 - 1,324 1,324
4,000,000 SEK 485,971 SEK-STIBOR-
SIDE		 Fixed 1.085% Jan 2025 - 6,305 6,305
3,400,000 SEK 413,075 SEK-STIBOR-
SIDE		 Fixed 1.080% Jan 2025 - 5,169 5,169
11,400,000 USD 11,400,000 Fixed 3.000% USD-LIBOR-BBA Mar 2025 (1,099,540) 63,262 (1,036,278)
11,200,000 USD 11,200,000 Fixed 2.250% USD-LIBOR-BBA May 2025 (163,627) (35,741) (199,368)
48,500,000 EUR 50,825,575 EUR-EURIBOR-
Reuters		 Fixed 0.750% Sep 2025 (234,795) (542,610) (777,405)
5,000,000 GBP 7,435,751 Fixed 2.000% GBP-LIBOR-BBA Sep 2025 (224,887) 51,704 (173,183)
3,800,000 PLN 1,032,216 PLN-WIBOR-
WIBO		 Fixed 2.000% Sep 2025 (464) (11,994) (12,458)
5,380,000,000 JPY 52,544,149 JPY-LIBOR-BBA Fixed 1.500% Jun 2033 290,827 3,188,008 3,478,835
12,000,000 MXN 858,222 MXN-TIIE-
Banxico		 Fixed 6.985% May 2034 30,056 9,831 39,887
410,000,000 JPY 3,469,290 JPY-LIBOR-BBA Fixed 1.250% Jun 2035 68,897 (16,966) 51,931
2,400,000 EUR 2,709,960 Fixed 2.307% EUR-EURIBOR-
Reuters		 Oct 2044 (303,375) (323,705) (627,080)
60,000,000 JPY 511,531 JPY-LIBOR-BBA Fixed 1.500% Dec 2044 (21,689) 1,400 (20,289)
8,500,000 EUR 9,191,902 Fixed 1.500% EUR-EURIBOR-
Reuters		 Mar 2046 (1,575,901) (110,369) (1,686,270)
$533,640,183 ($4,685,932) ($1,530,525) ($6,216,457)

380


High Yield Trust
The portfolio used interest rate swaps to manage duration of the portfolio.

Unamortized
Payments Upfront Unrealized
  Notional   USD Notional   Payments Made   Received by   Maturity   Payment Paid   Appreciation   Market
Portfolio   Amount   Currency Amount by Portfolio Portfolio Date (Received) (Depreciation) Value
High Yield Trust
Exchanged Cleared
Swaps
492,000 USD $492,000 Fixed 2.11% USD-LIBOR-BBA May 2030 - $8,136 $8,136
$492,000 - $8,136 $8,136

Investment Quality Bond Trust
The portfolio used interest rate swaps to manage against anticipated interest rate changes and manage duration of the portfolio.

Unamortized
Payments Upfront Unrealized
  Notional     USD Notional   Payments Made   Received by Maturity Payment Paid Appreciation   Market
Portfolio   Counterparty Amount Currency Amount by Portfolio Portfolio   Date (Received) (Depreciation) Value
Investment    
Quality Bond
Trust
Bank of America N.A. 6,650,000 USD $6,650,000 Fixed 1.540% USA-CPI-U Mar 2017 - ($66,205) ($66,205)
  JP Morgan Chase Bank, N.A. 5,100,000 USD 5,100,000 Fixed 4.318% 3 Month LIBOR Dec 2028 - (1,382,942) (1,382,942)
JP Morgan Chase Bank, N.A. 2,100,000 USD 2,100,000 Fixed 3.425% 3 Month LIBOR Jun 2039 - (447,018) (447,018)
Morgan Stanley International 8,815,000 USD 8,815,000 Fixed 1.475% USA-CPI-U Mar 2017 - (78,528) (78,528)
$22,665,000 - ($1,974,693) ($1,974,693)

381


Real Return Bond Trust
The portfolio used interest rate swaps to manage against anticipated interest rate changes, manage duration and as a substitute for securities purchased.

            Payments     Unamortized   Unrealized  
Notional USD Notional Payments Made Received by Maturity Upfront Appreciation Market
Portfolio Counterparty Amount Currency Amount by Portfolio Portfolio Date Payment (Depreciation) Value
Real Return
Bond Trust
UBS AG 501,930 BRL $278,697 BRL-CDI Fixed 12.36% Jan 2018 ($2,227) (719) ($2,946)
HSBC Banks 313,706 BRL 174,034 BRL-CDI Fixed 12.36% Jan 2018 (1,458) (383) (1,841)
Exchange
Cleared
Swaps
5,300,000 USD 5,300,000 Fixed 3.000% USD-LIBOR-BBA Dec 2024 (533,129) 15,264 (517,865)
  2,500,000 USD 2,500,000 Fixed 2.75% USD-LIBOR-BBA Jun 2025 (126,774) (27,461) (154,235)
25,600,000 MXN 1,746,070 MXN-TIIE-
Banxico		 Fixed 5.675% Nov 2021 38,885 (35,410) 3,475
44,800,000 MXN 2,984,896 Fixed 4.035% MXN-TIIE-Banxico Feb 2017 10,060 (2,794) 7,266
7,200,000 GBP 10,615,680 Fixed 1.50% GBP-LIBOR-BBA Sep 2017 (71,063) (26,313) (97,376)
2,500,000 EUR 2,663,595 Fixed .750% EUR-EURIBOR-
Reuters		 Sep 2025 (32,239) (7,833) (40,072)
600,000 CAD 483,267 Fixed 1.250% CAD-BA-CDOR Sep 2017 (3,064) (155) (3,219)
2,200,000 GBP 3,326,222 Fixed 1.250% GBP-LIBOR-BBA Jun 2017 (5,267) (13,952) (19,219)
700,000 GBP 1,041,005 Fixed 2.00% GBP-LIBOR-BBA Sep 2025 (31,484) 7,238 (24,246)
440,000 GBP 653,312 Fixed 2.00% GBP-LIBOR-BBA Sep 2045 (1,465) 1,685 220
$31,766,778 ($759,225) ($90,833) ($850,058)

Total Return Trust
The portfolio used interest rate swaps to manage against anticipated interest rate changes, manage duration and as a substitute for securities purchased.

Unamortized
Payments Upfront Unrealized
Notional USD Notional Payments Made Received by Maturity Payment Paid Appreciation Market
Portfolio   Counterparty   Amount   Currency   Amount   by Portfolio   Portfolio   Date   (Received)   (Depreciation)   Value
Total Return
Trust
  Citibank N.A. 410,265 BRL 376,506 BRL-CDI Fixed 11.25% Jan 2021 ($10,156) ($3,532) ($13,688)
Credit Suisse
Securities (USA)
LLC		 10,500,000 MXN 776,728 MXN-TIIE-
Banxico		 Fixed 6.33% Nov 2019 - 1,472 1,472
Goldman Sachs 200,000 MXN 15,555 MXN-TIIE-
Banxico		 Fixed 5.75% Jun 2023 (403) 306 (97)
HSBC Bank USA 5,900,000 MXN 460,797 MXN-TIIE-
Banxico		 Fixed 5.50% Sep 2022 (8,337) 1,607 (6,730)
Exchange
Cleared
Swaps
40,600,000 USD 40,747,187 Fixed 2.55% USD-LIBOR-BBA Oct 2024 (147,187) (2,285,105) (2,432,292)

382


  146,800,000   USD   146,800,000   Fixed 1.75%   USD-LIBOR-BBA   Mar 2020   (1,267,533)   (386,959)   (1,654,492)
209,000,000 MXN 14,327,777 Fixed 3.605% MXN-TIIE-Banxico Dec 2015 - 2,094 2,094
226,000,000 MXN 15,493,194 Fixed 3.42% MXN-TIIE-Banxico Jun 2015 - (3,627) (3,627)
  156,900,000 USD 156,900,000 Fixed 0.665% USD-LIBOR-BBA Apr 2016 19,112 (305,470) (286,358)
187,300,000 USD 187,300,000 Fixed 1% USD-LIBOR-BBA Apr 2017 517,364 (1,139,518) (622,154)
16,600,000 MXN 1,176,408 MXN-TIIE-
Banxico		 Fixed 6.32% Nov 2019 1,317 690 2,007
145,000,000 MXN 9,850,276 MXN-TIIE-
Banxico		 Fixed 5.915% Dec 2021 - 144,402 144,402
49,100,000 MXN 3,365,999 MXN-TIIE-
Banxico		 Fixed 6.71% Nov 2029 - 126,594 126,594
15,400,000 MXN 1,027,386 MXN-TIIE-
Banxico		 Fixed 5.01% Oct 2019 10,381 (16,623) (6,242)
27,500,000 MXN 1,834,618 MXN-TIIE-
Banxico		 Fixed 5.375% Jan 2022 21,887 (52,830) (30,943)
462,400,000 MXN 31,103,548 MXN-TIIE-
Banxico		 Fixed 5.43% Nov 2021 70,498 (453,960) (383,462)
24,400,000 USD 24,400,000 Fixed 1.250% USD-LIBOR-BBA Jun 2017 (110,776) (38,579) (149,355)
82,100,000 USD 82,100,000 Fixed 1.050% USD-LIBOR-BBA Oct 2016 (13,957) (168,978) (182,935)
38,200,000 MXN 2,562,555 MXN-TIIE-
Banxico		 Fixed 5.270% Feb 2020 (8,627) 11,344 2,717
146,500,000 MXN 9,719,369 MXN-TIIE-
Banxico		 Fixed 4.035% Feb 2017 (24,430) 660 (23,770)
275,200,000 MXN 18,310,351 MXN-TIIE-
Banxico		 Fixed 3.960% May 2016 - (388) (388)
22,700,000 USD 22,700,000 Fixed .750% USD-LIBOR-BBA Jun 2016 (24,743) (13,021) (37,764)
167,000,000 MXN 11,120,915 Fixed 3.540% MXN-TIIE-Banxico Aug 2015 (3,704) (303) (4,007)
8,700,000 MXN 579,353 MXN-TIIE-
Banxico		 Fixed 5.795% Dec 2021 8,123 (3,579) 4,544
47,800,000 USD 47,800,000 Fixed 1.50% USD-LIBOR-BBA Sep 2017 (147,224) (223,972) (371,196)
11,100,000 MXN 716,014 MXN-TIIE-
Banxico		 Fixed 6.620% Feb 2030 370 21,373 21,743
$998,174,890 $521,862 ($22,792,640) ($22,270,778)

The following are abbreviations for the table above:
BBA       The British Bankers’ Association
CDI Brazil Interbank Deposit Rate
EURIBOR Euro Interbank Offered Rate
LIBOR London Interbank Offered Rate
TIIE Tasa de Interes Interbancaria de Equilibrio (Interbank Equilibrium Interest Rate)
USA-CPI-U Consumer Price All Urban Non-Seasonally Adjusted Index
WIBOR Warsaw Interbank Offered Rate

383


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 March 31, 2015, and the range of notional contracts amounts held by the portfolios during the period ended March 31, 2015. In addition, the tables detail how the portfolios used currency swap contracts during the period ended March 31, 2015.

Global Bond Trust

The portfolio used currency swaps to manage against anticipated currency exchange rate changes, maintain diversity and liquidity of the portfolio and as a substitute for securities purchased.

Unamortized
Notional Notional Upfront
Amount of Amount of Payment Unrealized
Maturity Currency Currency Paid Appreciation Market
Portfolio   Counterparty   Receive   Pay   Date*       Received   Delivered   (Received)   (Depreciation)   Value
Global Bond
Trust
Bank of America
NA		 Floating rate equal
to 3 Month EUR-LIBOR
less 0.200% 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		 Jun
2025		 EUR 2,200,000 $2,547,600 ($6,051) $30,128 $24,077
Bank of America
NA		 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		 Jun
2020		 EUR 1,600,000 1,980,800 1,439 234,272 235,711
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		 Jun
2020		 EUR 11,100,000 14,637,293 (823,900) 585,495 (238,405)
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		 Jun
2020		 EUR 8,800,000 11,604,340 (644,385) 111,828 (532,557)
Citibank NA 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		 Jun
2020		 EUR 15,900,000 19,588,800 (16,703) 526,467 509,764

384


Citibank NA   Floating rate equal
to 3 Month EUR-LIBOR
less 0.200% 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		   Jun
2025		   EUR   2,190,000   2,545,875   (15,879)   29,991   14,112
Credit Suisse
International		 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		 Jun
2017		 CHF 3,600,000 3,713,254 9,985 (24,365) (14,380)
Deutsche Bank AG 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		 Jun
2020		 EUR 11,600,000 14,374,140 (11,607) 371,108 359,501
Goldman Sachs
Bank USA		 Floating rate equal
to 3 Month EUR-LIBOR
less 0.200% 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		 Jun
2025		 EUR 8,400,000 9,660,000 58,375 115,034 173,409
Goldman Sachs
Bank USA		 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		 Jun
2020		 EUR 9,900,000 12,256,200 8,905 125,806 134,711
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		 Jun
2017		 CHF 10,300,000 10,640,496 (106,953) 31,136 (75,817)
85,590,000 $103,548,798 ($1,546,774) $2,136,900 $590,126

* At the maturity date, the notional amount of the currency received will be exchanged back for the notional amount of the currency delivered.

Credit default swaps. Credit default swaps (CDS) involve the exchange of a fixed rate premium (paid by the Buyer), for protection against the loss in value of an underlying debt instrument, referenced entity or index, in the event of a defined credit event (such as payment default or bankruptcy). Under the terms of the swap, one party acts as a “guarantor” (the Seller), receiving the premium and agreeing to contingent payments that are specified within the credit default agreement. The fund may enter into CDS in which it may act as either Buyer or Seller. By acting as the Seller, the fund may incur economic leverage since it would be obligated to pay the Buyer the notional amount of the contract in the event of a default. The amount of loss in such case could be significant, but would typically be reduced by any recovery value on the underlying credit.

The following tables summarize the credit default swap contracts the portfolios held as of March 31, 2015. In addition, the tables detail how the portfolios used credit default swap contracts as buyer of protection.

Global Bond Trust
The portfolio used credit default swaps to manage against potential credit events.

385


Unamortized
USD Upfront Unrealized
Notional Notional (Pay)/Received Maturity Payment Paid Appreciation Market
Portfolio   Counterparty   Reference Obligation   Amount   Currency   Amount   Fixed Rate   Date   (Received)   (Depreciation)   Value
Global Bond Trust
Bank of America N.A. Computer Sciences Corp. 2,050,000 USD $2,050,000 (0.970)% Mar 2018 - ($30,365) ($30,365)
Bank of America N.A. Starwood Hotels & Resorts Worldwide, Inc. 3,000,000 USD 3,000,000 (1.490)% Jun 2018 - (110,689) (110,689)
Barclays Capital iTraxx Europe Sub Financials Series 22 Version 1 3,300,000 EUR 3,698,971 (1.000)% Dec 2019 $37,446 4,201 41,647
BNP Paribas SA UBS AG 500,000 USD 500,000 (1.000)% Mar 2017 - (749) (749)
Citibank N.A. UBS AG 1,300,000 USD 1,300,000 (1.000)% Mar 2017 764 (2,711) (1,947)
  Deutsche Bank AG Marsh & McLennan Companies, Inc. 1,100,000 USD 1,100,000 (0.800)% Sep 2015 - (4,320) (4,320)
Morgan Stanley Capital Services, Inc. iTraxx Europe Sub Financials Series 22 Version 1 13,100,000 EUR 14,907,149 (1.000)% Dec 2019 205,168 (39,841) 165,327
The Royal Bank of Scotland PLC The Cleveland Electric Illuminating Company 3,000,000 USD 3,000,000 (0.940)% Jun 2017 - (43,926) (43,926)
                    $29,556,120           $243,378   ($228,400)   $14,978

High Yield Trust
The portfolio used credit default swaps to manage against potential credit events.

Unamortized
  USD Upfront Unrealized
  Notional     Notional   (Pay)/Received   Maturity   Payment Paid   Appreciation   Market
Portfolio   Reference Obligation Amount Currency Amount Fixed Rate Date   (Received)   (Depreciation)   Value
High Yield Trust
Exchange Cleared
Swaps
MARKIT CDX.NA.HY. 5,760,400 EUR 6,196,022 0.500 % Dec 2019 (450,033) (30,564) (480,597)
                $6,196,022           ($450,033)   ($30,564)   ($480,597)

Investment Quality Bond Trust
The portfolio used credit default swaps to manage against potential credit events.

386


Unamortized
USD Upfront Unrealized
Notional Notional (Pay)/Received Maturity Payment Paid Appreciation Market
Portfolio   Counterparty   Reference Obligation   Amount   Currency   Amount   Fixed Rate   Date   (Received)   (Depreciation)   Value
Investment
Quality
Bond
Trust
Goldman Sachs International Brazil Republic 265,000 USD $265,000 (1.000)% Dec 2019 $10,847 $8,429 $19,276
Goldman Sachs International CDX-EMS22V1-5Y 2,475,000 USD 2,475,000 (1.000)% Dec 2019 $295,949 5,070 301,019
Goldman Sachs International CDX-EMS22V1-5Y 2,237,000 USD 2,237,000 (1.000)% Dec 2019 $268,525 3,548 272,073
Goldman Sachs International Darden Restaurants, Inc. 220,000 USD 220,000 (1.000)% Dec 2019 7,304 (8,363) (1,059)
JP Morgan Chase Bank Brazil Republic 130,000 USD 130,000 (1.000)% Dec 2019 6,242 3,214 9,456
Exchange
Cleared
Swaps
CDX-NAHYS23V1-5Y 2,226,560 USD 2,226,560 (5.000)% Dec 2019 (172,833) (12,232) (185,065)
CDX-NAIGS23V1-5Y 9,006,000 USD 9,006,000 (5.000)% Dec 2019 160,822 (7,994) 152,828
ITRAXX-EUROPES22V1-5Y 1,025,000 EUR 1,102,131 (1.000)% Dec 2019 26,538 (340) 26,198
ITRAXX-XOVERS22V1-5Y 2,504,000 EUR 2,692,427 (5.000)% Dec 2019 (243,988) (35,975) (279,963)
$20,354,118 $359,406 ($44,643) $314,763

Real Return Bond Trust
The portfolio used credit default swaps to manage against potential credit events, gain exposure to securities or credit index.

USD Unamortized Unrealized
Notional Notional (Pay)/Received Maturity Upfront Appreciation Market
Portfolio   Counterparty   Reference Obligation   Amount   Currency   Amount   Fixed Rate   Date   Payment   (Depreciation)   Value
Real Return Bond
Trust
Exchange Cleared
Swaps
CDX ITRAXX MAIN23 5Y ICE 800,000 EUR ($864,840) (1.000)% Jun 2020 ($19,430) ($348) ($19,778)
($864,840) ($19,430) ($348) ($19,778)

Implied credit spreads are utilized in determining the market value of CDS agreements in which the fund is the Seller at period end. The implied credit spread generally represents the yield of the instrument above a credit-risk free rate, such as the U.S. Treasury Bond Yield, and may include upfront payments required to be made to enter into the agreement. It also serves as an indicator of the current status of the payment/performance risk and represents the likelihood or risk of default for the credit derivative. Wider credit spreads represent a deterioration of the referenced entity’s creditworthiness and an increased risk of default or other credit event occurring as defined under the terms of the agreement. The maximum potential amount of future payments (undiscounted) that a fund as the Seller could be required to make under any CDS agreement equals the notional amount of the agreement.

The following tables summarize the credit default swap contracts the portfolios held as of March 31, 2015. In addition, the tables detail how the portfolios used credit swap contracts as seller of protection during the period ended March 31, 2015.

387


Global Bond Trust
The portfolio used credit default swaps to take a long position in exposure of the benchmark credit.

Unamortized
Upfront
USD Payment Unrealized
Reference Implied Credit Notional Notional (Pay)/Received Maturity Paid Appreciation Market
Portfolio   Counterparty   Obligation   Spread at 3-31-15   Amount Currency   Amount   Fixed Rate   Date   (Received)   (Depreciation)   Value
Global Bond Trust  
Bank of America N.A. French Republic 0.34% 1,800,000 USD $1,800,000 0.250% Mar 2020 ($13,483) $5,373 ($8,110)
Bank of America N.A. Republic of Italy 0.86% 200,000 USD 200,000 1.000% Jun 2019 (3,473) 4,705 1,232
Bank of America N.A. Republic of Italy 0.89% 400,000 USD 400,000 1.000% Sep 2019 (1,677) 3,719 2,042
  Barclays Capital French Republic 0.34% 1,700,000 USD 1,700,000 0.250% Mar 2020 (11,206) 3,547 (7,659)
Barclays Capital People's Republic of China 0.69% 600,000 USD 600,000 1.000% Mar 2019 789 6,583 7,372
Citibank N.A Federative Republic of Brazil 2.48% 700,000 USD 700,000 1.000% Mar 2019 (22,789) (15,763) (38,552)
Citibank N.A French Republic 0.34% 1,400,000 USD 1,400,000 0.250% Mar 2020 (12,191) 5,884 (6,307)
Citibank N.A French Republic 0.36% 300,000 USD 300,000 0.250% Jun 2020 (1,820) 136 (1,684)
Citibank N.A Republic of Italy 0.89% 3,200,000 USD 3,200,000 1.000% Sep 2019 6,744 9,591 16,335
Citibank N.A Russian Federation 4.06% 4,900,000 USD 4,900,000 1.000% Dec 2019 (498,027) (125,047) (623,074)
Deutsche Bank AG Federative Republic of Brazil 2.48% 2,400,000 USD 2,400,000 1.000% Mar 2019 (76,846) (55,332) (132,178)
Deutsche Bank AG People's Republic of China 0.69% 600,000 USD 600,000 1.000% Mar 2019 225 7,147 7,372
Goldman Sachs International Federative Republic of Brazil 2.48% 600,000 USD 600,000 1.000% Mar 2019 (20,413) (12,631) (33,044)
Goldman Sachs International French Republic 0.34% 3,300,000 USD 3,300,000 0.250% Mar 2020 (23,818) 8,949 (14,869)
Goldman Sachs International French Republic 0.36% 700,000 USD 700,000 0.250% Jun 2020 (3,891) (37) (3,928)
Goldman Sachs International Hellenic Republic 76.43% 150,000 USD 150,000 1.000% Sep 2015 (13,462) (26,311) (39,773)
Goldman Sachs International Russian Federation 4.06% 700,000 USD 700,000 1.000% Dec 2019 (79,030) (9,981) (89,011)
Goldman Sachs International United Mexican States 1.13% 800,000 USD 800,000 1.000% Sep 2019 6,148 (10,325) (4,177)
HSBC Bank USA Federative Republic of Brazil 2.61% 1,800,000 USD 1,800,000 1.000% Sep 2019 (45,288) (74,213) (119,501)
HSBC Bank USA French Republic 0.34% 4,400,000 USD 4,400,000 0.250% Mar 2020 (39,238) 19,418 (19,820)

388


HSBC Bank USA   United Mexican States   1.13%   600,000   USD   600,000   1.000%   Sep 2019   4,482   (7,615)   (3,133)
JPMorgan Chase Bank N.A. Federative Republic of Brazil 2.48% 200,000 USD 200,000 1.000% Mar 2019 (6,553) (4,462) (11,015)
JPMorgan Chase Bank N.A. French Republic 0.34% 2,500,000 USD 2,500,000 0.250% Mar 2020 (18,876) 7,612 (11,264)
  JPMorgan Chase Bank N.A. French Republic 0.36% 600,000 USD 600,000 0.250% Jun 2020 (3,337) (30) (3,367)
JPMorgan Chase Bank N.A. People's Republic of China 0.69% 1,400,000 USD 1,400,000 1.000% Mar 2019 3,688 13,514 17,202
JPMorgan Chase Bank N.A. Russian Federation 4.06% 1,200,000 USD 1,200,000 1.000% Dec 2019 (135,929) (16,661) (152,590)
Morgan Stanley Capital Services, Inc. Federative Republic of Brazil 2.48% 4,700,000 USD 4,700,000 1.000% Mar 2019 (160,394) (98,454) (258,848)
Morgan Stanley Capital Services, Inc. Federative Republic of Brazil 2.61% 1,000,000 USD 1,000,000 1.000% Sep 2019 (25,608) (40,782) (66,390)
Morgan Stanley Capital Services, Inc. French Republic 0.34% 1,700,000 USD 1,700,000 0.250% Mar 2020 (11,785) 4,126 (7,659)
Morgan Stanley Capital Services, Inc.

People's Republic of China

 0.69% 200,000 USD 200,000 1.000% Mar 2019 (150) 2,607 2,457
$44,750,000 ($1,207,208) ($394,733) ($1,601,941)

Investment Quality Bond Trust
The portfolio used credit default swaps to take a long position in exposure of the benchmark credit.

Unamortized
Upfront
USD (Pay) Payment Unrealized
    Reference   Implied Credit   Notional     Notional   /Received   Maturity   Paid   Appreciation   Market
Portfolio Counterparty Obligation Spread at 3-31-15 Amount Currency Amount Fixed Rate Date (Received) (Depreciation) Value
Investment Quality
Bond Trust
Goldman Sachs International Russian Federation 4.08% 625,000 USD $625,000 1.000% Mar 2020 ($96,894) $13,549 ($83,345)
$625,000 ($96,894) $13,549 ($83,345)

Real Return Bond Trust
The portfolio used credit default swaps to take a long position in the exposure of the benchmark credit.

389


Unamortized
Upfront
USD Payment Unrealized
Reference Implied Credit Notional Notional (Pay)/Received Maturity Paid Appreciation Market
Portfolio   Counterparty   Obligation   Spread at 3-31-15   Amount   Currency   Amount   Fixed Rate   Date   (Received)   (Depreciation)   Value
Real Return
Bond Trust
  Bank of America N.A Republic of Indonesia 0.14% 100,000 USD $100,000 1.000% Dec 2019 ($2,161) $489 ($1,672)
Barclays Bank PLC Republic of Indonesia 1.38% 500,000 USD 500,000 1.000% Dec 2019 (12,374) 4,016 (8,358)
Morgan Stanley Capital Services JSC Gazprom 4.19% 100,000 USD 100,000 1.000% Mar 2016 (6,482) 3,458 (3,024)
$700,000 ($21,017) $7,963 ($13,054)

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 and as a temporary substitute for securities purchased.

Unamortized
Implied Credit Upfront
Spread and/or USD Payment Unrealized
Reference Credit Rating Notional (Pay)/Receive Maturity Paid Appreciation Market
Portfolio   Counterparty   Obligation   at 3-31-15   Notional Value   Currency   Amount   Fixed Rate   Date   (Received)   (Depreciation)   Value
Total
Return
Trust
Bank of America N.A. Federative Republic  of Brazil 1.23% 1,000,000 USD 1,000,000 1.950 % Apr 2016 ($420) $16,922 $16,502
Bank of America N.A. United Mexican States 0.30% 600,000 USD 600,000 1.000 % Sep 2015 70 2,144 2,214
Bank of America N.A. General Electric Capital Corporation 0.15% 2,600,000 USD 2,600,000 1.000 % Dec 2015 (7,468) 24,540 17,072
  Bank of America N.A. General Electric Capital Corporation 0.15% 2,500,000 USD 2,500,000 1.000 % Dec 2015 (7,016) 23,431 16,415
Bank of America N.A. Citigroup, Inc. 0.30% 2,000,000 USD 2,000,000 1.000 % Sep 2016 11,663 9,802 21,465
Barclays Bank PLC Federative Republic of Brazil 0.77% 500,000 USD 500,000 1.000 % Jun 2015 (303) 725 422
Barclays Bank PLC General Electric Capital Corporation 0.30% 2,300,000 USD 2,300,000 1.000 % Sep 2016 12,397 12,138 24,535
Barclays Bank PLC Petroleo Brasileiro SA Petrobras 6.21% 300,000 USD 300,000 1.000 % Dec 2019 (39,949) (19,611) (59,560)
BNP Paribas SA Petroleo Brasileiro SA Petrobras 6.21% 400,000 USD 400,000 1.000 % Dec 2019 (50,634) (28,780) (79,414)
BNP Paribas SA Petroleo Brasileiro SA Petrobras 6.48% 400,000 USD 400,000 1.000 % Jun 2018 (54,219) (6,704) (60,923)
Citibank N.A. Federative Republic of Brazil 0.91% 1,000,000 USD 1,000,000 1.000 % Sep 2015 (1,465) 2,213 748
Citibank N.A. United Mexican States 0.30% 700,000 USD 700,000 1.000 % Sep 2015 (992) 3,575 2,583
Citibank N.A. United Mexican States 0.49% 11,600,000 USD 11,600,000 1.000 % Mar 2016 (17,913) 80,056 62,143
Citibank N.A. United Mexican States 0.60% 3,600,000 USD 3,600,000 1.000 % Jun 2016 (1,877) 20,722 18,845
Credit Suisse International Federative Republic of Brazil 0.77% 6,900,000 USD 6,900,000 1.000 % Jun 2015 (4,091) 9,909 5,818

390


Deutsche Bank AG   Federative Republic of Brazil   0.77%   2,800,000   USD   2,800,000   1.000 %   Jun 2015   (1,299)   3,660   2,361
Deutsche Bank AG Federative Republic of Brazil 0.77% 700,000 USD 700,000 1.000 % Jun 2015 (283) 873 590
Deutsche Bank AG General Electric Capital Corporation 0.23% 400,000 USD 400,000 1.000 % Mar 2016 (4,125) 7,304 3,179
Deutsche Bank AG United Mexican States 0.49% 7,200,000 USD 7,200,000 1.000 % Mar 2016 (10,124) 48,695 38,571
Deutsche Bank AG The Export-Import Bank of China 0.49% 400,000 USD 400,000 1.000 % Jun 2017 (7,499) 12,200 4,701
Deutsche Bank AG General Electric Capital Corporation 0.10% 1,300,000 USD 1,300,000 1.000 % Sep 2015 3,763 2,305 6,068
Deutsche Bank AG Berkshire Hathaway Inc. 0.20% 1,100,000 USD 1,100,000 1.000 % Sep 2016 8,365 5,021 13,386
Deutsche Bank AG JPMorgan Chase & Co. 0.26% 2,300,000 USD 2,300,000 1.000 % Sep 2016 14,430 11,540 25,970
Deutsche Bank AG

Federative Republic of Brazil

 1.34% 2,400,000 USD 2,400,000 1.000 % Jun 2016 (1,945) (7,307) (9,252)
Goldman Sachs CDX.NA.IG.9-V4 0.08% 964,499 USD 964,499 0.548 % Dec 2017 - 12,408 12,408
Goldman Sachs Federative Republic of Brazil 0.77% 500,000 USD 500,000 1.000 % Jun 2015 (283) 705 422
HSBC Bank USA, N.A. Federative Republic of Brazil 0.77% 2,300,000 USD 2,300,000 1.000 % Jun 2015 (2,688) 4,627 1,939
HSBC Bank USA, N.A. Federative Republic of Brazil 0.91% 1,700,000 USD 1,700,000 1.000 % Sep 2015 (1,592) 2,863 1,271
HSBC Bank USA, N.A. United Mexican States 0.64% 300,000 USD 300,000 1.000 % Sep 2016 788 910 1,698
HSBC Bank USA, N.A. United Mexican States 0.67% 200,000 USD 200,000 1.000 % Dec 2016 1,086 130 1,216
HSBC Bank USA, N.A. Republic of Italy 0.45% 1,400,000 USD 1,400,000 1.000 % Sep 2016 6,400 5,513 11,913
HSBC Bank USA, N.A. Petroleo Brasileiro SA Petrobras 6.18% 800,000 USD 800,000 1.000 % Mar 2020 (139,898) (24,570) (164,468)
JPMorgan Chase Bank CDX.NA.IG.9-V4 0.08% 2,121,897 USD 2,121,897 0.553 % Dec 2017 - 27,590 27,590
JPMorgan Chase Bank Federative Republic of Brazil 0.91% 2,100,000 USD 2,100,000 1.000 % Sep 2015 (2,094) 3,664 1,570
  JPMorgan Chase Bank United Mexican States 0.64% 200,000 USD 200,000 1.000 % Sep 2016 548 585 1,133
JPMorgan Chase Bank United Mexican States 0.67% 2,300,000 USD 2,300,000 1.000 % Dec 2016 17,373 (3,394) 13,979
Morgan Stanley Capital Services, Inc. Federative Republic of Brazil 0.77% 800,000 USD 800,000 1.000 % Jun 2015 (328) 1,003 675
UBS AG United States of America 0.10% 12,700,000 EUR 16,290,280 0.250 % Sep 2015 (12,159) 23,399 11,240
UBS AG Federative Republic of Brazil 0.91% 500,000 USD 500,000 1.000 % Sep 2015 (445) 819 374
$87,476,676 ($294,226) $291,625 ($2,601)

391


Inflation swaps. In an inflation swap, one party pays a fixed rate on a notional principal amount while the other party pays a floating rate linked to an inflation index on that same notional amount. The party paying the floating rate pays the inflation adjusted rate multiplied by the notional principal amount. If the average inflation rate over the term of the swap is the same as the fixed rate of the swap, the two legs will have the same value and the swap will break even.

The following table summarizes the inflation swap contracts of the portfolio held as of March 31, 2015.

Real Return Bond Trust
The portfolio used inflation swaps to take manage against anticipated changes to inflation indices.

Unamortized
USD Upfront Unrealized
Notional Notional Payments Made by Payments Received by Maturity Payment Paid Appreciation Market
Portfolio Counterparty Amount Currency Amount Portfolio Portfolio Date (Received) (Depreciation) Value
Real
Return
Bond
Trust		                      
BNP Paribas
S.A.		 300,000 USD $300,000 Fixed 1.825% USA-CPI-U Nov 2016 ($61) ($8,212) ($8,273)
BNP Paribas
S.A.		 800,000 USD 800,000 Fixed 1.9075% USA-CPI-U Apr 2017 - (28,224) (28,224)
BNP Paribas
S.A.		 4,900,000 USD 4,900,000 Fixed 2.25% USA-CPI-U Jul 2017 5,157 (284,509) (279,352)
  BNP Paribas
S.A.		 100,000 GBP 157,125 UK RPI All
Items NSA		 Fixed 3.125% Dec 2024 - 5,030 5,030
CitiBank N.A. 200,000 EUR 249,430 Fixed .75% Eurostat Eurozone HICP Ex Tob Dec 2019 121 465 586
  Credit Suisse
International		 100,000 GBP 155,720 UK RPI All
Items NSA		 Fixed 3.1% Dec 2024 1,550 3,061 4,611
Credit Suisse
International		 100,000 GBP 161,795 UK RPI All
Items NSA		 Fixed 3.5275 Sep 2044 (425) 15,207 14,782
Credit Suisse
International		 100,000 GBP 160,915 UK RPI All
Items NSA		 3.500% Oct 2044 1,555 11,372 12,927
Credit Suisse
International		 100,000 GBP 159,770 UK RPI All
Items NSA		 Fixed 3.55% Nov 2044 387 15,448 15,835
Deutsche
Bank AG		 800,000 USD 800,000 Fixed 0.07% USA-CPI-U Dec 2015 - (2,796) (2,796)
Deutsche
Bank AG		 500,000 USD 500,000 Fixed 1.825% USA-CPI-U Nov 2016 (104) (13,684) (13,788)
Deutsche
Bank AG		 800,000 USD 800,000 Fixed 1.845% USA-CPI-U Nov 2016 - (22,554) (22,554)
Deutsche
Bank AG		 400,000 USD 400,000 Fixed 2.56% USA-CPI-U May 2023 - (39,380) (39,380)
Goldman
Sachs
Bank USA		 300,000 USD 300,000 Fixed 2.175% USA-CPI-U Oct 2018 (187) (13,462) (13,649)
Goldman
Sachs
Bank USA		 1,000,000 EUR 1,244,250 Fixed 0.09% Eurostat Eurozone HICP Ex Tob Nov 2019 1,202 (5,748) (4,546)
Goldman
Sachs
Bank USA		 720,000 GBP 1,096,992 UK RPI All
Items NSA		 Fixed 3.14% Jan 2030 - 8,100 8,100
JPMorgan
Chase
Bank, N.A.		 100,000 EUR 122,885 Fixed 0.7% Eurostat Eurozone HICP Ex Tob Dec 2018 (101) (58) (159)
JPMorgan
Chase
Bank, N.A.		 100,000 GBP 163,385 UK RPI All
Items NSA		 Fixed 3.5000% Sep 2044 145 14,637 14,782
Morgan
Stanley
Capital
Services		 200,000 GBP 321,775 UK RPI All
Items NSA		 Fixed 3.5000% Oct 2044 (1,939) 27,793 25,854
Royal Bank of
Scotland		 400,000 USD 400,000 Fixed 1.935% USA-CPI-U Oct 2016 - (12,309) (12,309)
Royal Bank of
Scotland		 2,700,000 USD 2,700,000 Fixed 2.25% USA-CPI-U Jul 2017 3,327 (157,256) (153,929)
UBS AG 100,000 GBP 151,780 UK RPI All
Items NSA		 Fixed 2.945% Jan 2025 - 1,370 1,370
$16,045,822 $10,627 ($485,709) ($475,082)

The following are abbreviations for the table above:
HICP Ex Tob                 Harmonized Index of Consumer Prices Excluding Tobacco
UK RPI   United Kingdom Retail Price Index
USA-CPI-U   Consumer Price All Urban Non-Seasonally Adjusted Index

392


Volatility Swaps.
Global Bond Trust
The portfolio used volatility swaps to gain exposure on the volatility of certain currencies.

Volatility Unrealized
Reference Pay / Receive Maturity Strike Appreciation Market
Portfolio   Counterparty   Entity   Currency   Quantity   Variance   Date   Price   (Depreciation)   Value
Global Bond Trust
Bank of America NA EUR/CAD EUR 2,650 Pay Apr 2015 10.60% $189 $189
Morgan Stanley
Capital services LLC		 EUR/CAD EUR 2,650 Pay Apr 2015 10.80% 381 381
$570 $570

Real Return Bond Trust
The portfolio used volatility swaps to gain exposure on the volatility of certain currencies.

Volatility Unrealized
Reference Pay / Receive Maturity Strike Appreciation Market
Portfolio Counterparty Entity Currency Quantity Variance Date Price (Depreciation) Value
Real Return Bond Trust                  
Bank of America N.A EUR/CAD EUR 120 Pay Apr 2015 10.60% $9 $9
  Bank of America N.A EUR/CAD EUR 400 Pay Apr 2015 12.03% 552 552
Bank of America N.A EUR/USD EUR 720 Pay Apr 2015 12.45% 694 694
Morgan Stanley
Capital Services		 EUR/CAD EUR 180 Pay Apr 2015 10.80% 26 26
$1,281 $1,281

Investment in affiliated underlying funds. Information regarding the portfolios' fiscal year to date purchases and sales of the affiliated underlying portfolios is in the table that follows. As of March 31, 2015, there are no dividends or distributions received by the portfolios from their investments in affiliated underlying porfolios.

BEGINNING SHARES ENDING SHARE REALIZED GAIN
PORTFOLIO   SHARE AMOUNT   PURCHASED   SHARES SOLD   AMOUNT   (LOSS)   ENDING VALUE
Core Strategy Trust
Bond Trust 86,493,018 452,031 (2,088,802) 84,856,247 $14,070 $1,179,501,839
Strategic Equity Allocation 161,588,225 177,268 (3,242,570) 158,522,923 11,306,771 2,786,832,980
$11,320,841 $3,966,334,819

393


Franklin Templeton Founding Allocation Trust

Global       21,387,914       -       (653,997)       20,733,917       $1,446,440       $411,982,923
Mutual Shares 29,924,528 - (1,209,415) 28,715,113 2,862,491 412,636,178
Income 35,148,054 - (695,862) 34,452,192 (33,171) 413,081,783
$4,275,760 $1,237,700,884
 
Lifestyle Aggressive PS
Strategic Equity Allocation 1,044,047 34,360 (42,920) 1,035,487 $36,467 $18,203,866
$36,467 $18,203,866
 
Lifestyle Aggressive MVP
All Cap Core 502,981 - (36,850) 466,131 $524,596 $13,405,920
Alpha Opportunities 2,422,800 - (144,648) 2,278,152 54 32,053,602
Blue Chip Growth 975,950 - (84,279) 891,671 1,511,254 33,883,484
Capital Appreciation 1,846,835 - (149,049) 1,697,786 1,452,035 27,775,786
Emerging Markets Value 3,729,586 - - 3,729,586 - 33,081,431
Equity-Income 2,418,476 - (38,043) 2,380,433 271,764 44,966,380
Fundamental Large Cap Value 2,636,114 - (70,517) 2,565,597 529,543 44,949,263
International Core 1,803,931 - - 1,803,931 - 19,915,402
International Growth Opportunities 577,900 - (10,194) 567,706 34,566 7,539,133
International Growth Stock 845,406 - (25,120) 820,286 103,693 14,092,518
International Value   1,609,773 6,858 - 1,616,631 - 21,097,031
Mid Cap Stock 898,941 - (73,862) 825,079 673,217 16,328,318
Mid Value 825,727 - (45,047) 780,680 234,909 11,179,332
Real Estate Securities 523,907 - (50,552) 473,355 295,525 8,804,406
Small Cap Growth 386,367 - (30,407) 355,960 119,463 4,406,790
Small Cap Opportunities 195,741 - (12,913) 182,828 233,629 5,983,958
Small Cap Value 124,102 - (7,998) 116,104 86,059 2,968,785
Small Company Growth 107,128 - (8,567) 98,561 141,712 2,876,011
Small Company Value 143,147 - (6,060) 137,087 69,681 3,432,658
Strategic Equity Allocation 1,961,074 156,252 (392,959) 1,724,367 57,398 30,314,378
Strategic Growth 1,805,641 - (129,969) 1,675,672 231,173 27,732,371
U.S. Equity 1,413,400 - (42,488) 1,370,912 386,789 26,719,066
$6,957,060 $433,506,023
 
Lifestyle Balanced PS
Strategic Equity Allocation 28,902,752 586,369 (483,007) 29,006,114 $1,830,690 $509,927,481
Bond Trust 36,220,690 1,103,226 (300,398) 37,023,518 90,529 514,626,895
$1,921,219 $1,024,554,376

394


Lifestyle Balanced MVP                                    
All Cap Core 3,466,676 - (228,869) 3,237,807 $4,421,574 $93,119,331
Alpha Opportunities 17,162,621 - (857,385) 16,305,236 1,112,255 229,414,674
Blue Chip Growth 5,417,552 - (446,824) 4,970,728 9,453,985 188,887,674
Bond Trust 223,748,637 - (7,177,398) 216,571,239 1,412,745 3,010,340,228
Capital Appreciation 11,278,089 - (883,004) 10,395,085 9,400,639 170,063,583
Core Bond 31,587,126 - (987,241) 30,599,885 (327,128) 409,732,466
Emerging Markets Value 31,839,834 - - 31,839,834 - 282,419,328
Equity-Income 14,898,796 - (84,171) 14,814,625 955,966 279,848,261
Fundamental Large Cap Value 14,815,137 - (250,701) 14,564,436 1,655,259 255,168,921
Global Bond 15,656,756 - - 15,656,756 - 193,830,637
Global Conservative Absolute Return 3,645,564 - - 3,645,564 - 36,163,996
International Core 19,903,114 - (1,033,664) 18,869,450 (1,695,316) 208,318,723
International Growth Opportunities 6,671,399 - (341,293) 6,330,106 1,125,526 84,063,812
International Growth Stock 9,266,578 - (439,192) 8,827,386 1,913,366 151,654,498
International Value 18,072,696 - (602,792) 17,469,904 (1,176,052) 227,982,250
Mid Cap Stock 7,024,952 - (523,956) 6,500,996 5,893,757 128,654,719
Mid Value 9,438,322 - (377,236) 9,061,086 3,074,682 129,754,753
New Income 55,286,525 - (1,736,726) 53,549,799 276,579 710,070,341
Short Term Government Income 5,575,987 - (77,798) 5,498,189 (33,711) 68,617,404
Small Cap Growth 4,735,940 - (349,718) 4,386,222 2,372,380 54,301,424
Small Cap Value 2,259,931 - (112,911) 2,147,020 1,791,960 54,899,292
Small Company Growth 1,647,470 - (121,076) 1,526,394 2,408,362 44,540,171
Small Company Value 2,664,379 - (72,438) 2,591,941 1,026,682 64,902,213
Strategic Equity Allocation 120,183,339 - (5,214,922) 114,968,417 26,645,134 2,021,144,772
Strategic Growth 11,013,750 - (754,066) 10,259,684 1,471,364 169,797,767
Total Return 25,537,245 - (887,944) 24,649,301 (372,126) 345,090,208
U.S. Equity 9,619,365 - (202,716) 9,416,649 2,466,104 183,530,492
$75,273,986 $9,796,311,938
 
Lifestyle Conservative PS
Strategic Equity Allocation 2,271,462 135,547 (197,601) 2,209,408 $123,722 $38,841,401
Bond Trust 11,562,076 160,874 (425,628) 11,297,322 137,492 157,032,772
$261,214 $195,874,173

395


Lifestyle Conservative MVP                                    
Blue Chip Growth 513,298 - (40,587) 472,711 $621,706 $17,963,031
Bond Trust 67,650,873 130,434 (3,257,980) 64,523,327 883,588 896,874,252
Capital Appreciation 650,779 - (46,808) 603,971 (3,721) 9,880,967
Core Bond 9,398,857 - (426,889) 8,971,968 (232,719) 120,134,649
Equity-Income 1,491,176 - (13,071) 1,478,105 93,743 27,921,397
Fundamental All Cap Core 2,427,610 - (89,850) 2,337,760 68,876 35,697,591
Global Bond 4,810,447 - - 4,810,447 - 59,553,339
Global Conservative Absolute Return 1,192,189 - - 1,192,189 - 11,826,518
International Core 3,177,045 - (203,674) 2,973,371 216,328 32,826,013
International Growth Opportunities 476,437 - (29,348) 447,089 94,482 5,937,344
International Growth Stock 581,464 - (28,024) 553,440 95,243 9,508,091
International Value 2,879,427 - (168,677) 2,710,750 391,179 35,375,294
Mid Cap Stock 495,065 - (34,537) 460,528 249,811 9,113,848
Mid Value 668,099 - (27,770) 640,329 119,617 9,169,507
New Income 16,526,580 - (753,210) 15,773,370 (30,096) 209,154,889
Short Term Government Income 1,638,303 - (57,910) 1,580,393 (21,487) 19,723,305
Small Cap Growth 631,809 - (41,844) 589,965 89,157 7,303,761
Small Cap Value 496,179 - (24,739) 471,440 204,745 12,054,731
Strategic Equity Allocation 8,403,714 - (349,749) 8,053,965 1,828,003 141,588,703
Total Return 6,420,061 - - 6,420,061 - 89,880,858
$4,668,455 $1,761,488,088
 
Lifestyle Growth PS
Strategic Equity Allocation 78,323,987 3,183,829 (229,631) 81,278,185 $1,043,016 $1,428,870,493
Bond Trust 42,469,864 2,648,860 (568,290) 44,550,434 145,407 619,251,036
$1,188,423 $2,048,121,529
 
Lifestyle Growth MVP
All Cap Core 5,015,752 - (382,108) 4,633,644 $3,833,969 $133,263,608
Alpha Opportunities 33,378,400 - (2,015,319) 31,363,081 1,796,962 441,278,553
Blue Chip Growth 10,943,792 - (971,989) 9,971,803 17,513,777 378,928,508
Bond Trust 157,208,386 - (10,966,255) 146,242,131 1,963,962 2,032,765,625
Capital Appreciation 22,653,233 - (1,953,560) 20,699,673 12,526,111 338,646,643
Core Bond 23,704,199 - (919,837) 22,784,362 (696,538) 305,082,608
Emerging Markets Value 49,615,761 - - 49,615,761 - 440,091,799
Equity-Income 29,351,799 - (533,945) 28,817,854 5,922,747 544,369,269

396


Fundamental Large Cap Value       30,383,879       -       (891,254)       29,492,625       6,538,956       516,710,784
Global Bond   11,232,921 - - 11,232,921 - 139,063,557
Global Conservative Absolute Return 3,907,769 - - 3,907,769 - 38,765,068
International Core 29,460,780 - (1,840,842) 27,619,938 (5,301,766) 304,924,116
International Growth Opportunities 10,415,462 - (605,316) 9,810,146 1,963,638 130,278,737
International Growth Stock 13,752,192 - (759,771) 12,992,421 3,012,343 223,209,800
International Value 27,994,657 - (1,061,485) 26,933,172 (5,702,364) 351,477,897
Mid Cap Stock 9,394,488 - (754,785) 8,639,703 2,605,042 170,979,724
Mid Value 12,756,424 - (728,706) 12,027,718 6,111,053 172,236,928
New Income 41,468,556 - (1,648,329) 39,820,227 (244,001) 528,016,205
Short Term Government Income 3,608,256 - (98,303) 3,509,953 (35,278) 43,804,211
Small Cap Growth 7,819,636 - (621,857) 7,197,779 4,048,291 89,108,501
Small Cap Opportunities 2,432,099 - (165,829) 2,266,270 1,923,821 74,175,027
Small Cap Value 3,005,053 - (202,526) 2,802,527 3,236,267 71,660,620
Small Company Growth 2,718,833 - (219,936) 2,498,897 2,632,896 72,917,824
Small Company Value 4,406,499 - (189,042) 4,217,457 1,150,476 105,605,124
Strategic Equity Allocation 214,606,574 - (11,711,519) 202,895,055 57,546,326 3,566,895,068
Strategic Growth 22,117,084 - (1,687,034) 20,430,050 3,053,472 338,117,324
Total Return 18,592,373 - (356,642) 18,235,731 21,553 255,300,233
U.S. Equity 21,748,886 - (720,233) 21,028,653 5,219,842 409,848,456
$130,641,557 $12,217,521,817
 
Lifestyle Moderate PS
Strategic Equity Allocation 7,761,149 266,411 (146,059) 7,881,501 $259,382 $138,556,777
Bond Trust 14,722,667 517,310 (199,683) 15,040,294 57,539 209,060,091
$316,921 $347,616,868
 
Lifestyle Moderate MVP
Alpha Opportunities 3,767,845 - (200,159) 3,567,686 $348,046 $50,197,335
Blue Chip Growth 1,463,468 - (124,411) 1,339,057 2,647,984 50,884,183
Bond Trust 80,196,903 217,391 (3,101,805) 77,312,489 1,508,476 1,074,643,600
Capital Appreciation 1,652,777 - (133,376) 1,519,401 950,704 24,857,406
Core Bond 11,247,442 - (395,308) 10,852,134 (115,452) 145,310,070
Equity-Income 5,434,743 - (45,267) 5,389,476 559,430 101,807,194
Fundamental All Cap Core 5,866,220 27,388 (275,850) 5,617,758 201,451 85,783,160
Global Bond 5,241,968 - - 5,241,968 - 64,895,565
Global Conservative Absolute Return 1,419,712 - - 1,419,712 - 14,083,543

397


International Core       6,429,300       67,125       (404,601)       6,091,824       1,289,669       67,253,734
International Growth Opportunities 1,940,207 - (100,921) 1,839,286 335,039 24,425,721
International Growth Stock 2,718,655 - (132,106) 2,586,549 553,553 44,436,920
International Value 6,235,696 47,280 (280,961) 6,002,015 1,182,269 78,326,291
Mid Cap Stock 1,373,130 - (108,606) 1,264,524 1,270,160 25,024,935
Mid Value 1,861,873 - (80,374) 1,781,499 658,635 25,511,072
New Income 19,653,424 - (693,856) 18,959,568 87,645 251,403,874
Short Term Government Income   1,841,883 - (44,950) 1,796,933 (16,485) 22,425,725
Small Cap Growth 1,142,013 - (87,884) 1,054,129 490,811 13,050,113
Small Cap Value 591,986 - (31,452) 560,534 491,380 14,332,859
Small Company Growth 379,708 - (28,823) 350,885 567,711 10,238,817
Small Company Value 649,612 - (18,754) 630,858 237,094 15,796,689
Strategic Equity Allocation 27,160,814 - (1,265,144) 25,895,670 6,510,985 455,245,878
Strategic Growth 1,614,286 - (114,676) 1,499,610 51,270 24,818,553
Total Return 9,023,303 - (348,737) 8,674,566 (139,588) 121,443,924
U.S. Equity 1,348,422 - (34,861) 1,313,561 342,506 25,601,307
$20,013,293 $2,831,798,468

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 March 31, 2015.

Value as a
Original percentage
        acquisition     Acquisition     Beginning share     Ending share     of portfolio's         Value as of
Portfolio Issuer, Description date cost amount amount net assets 3-31-15
Alpha Opportunities Trust Apigee Corp., Series H 4/17/2014 $432,120 148,495 148,495 0.1% $582,100
Alpha Opportunities Trust Cloudera, Inc., Series F 2/5/2014 $229,626 15,771 15,771 0.1% $487,639
Alpha Opportunities Trust ConforMIS, Inc. 8/12/2014 $218,960 27,370 27,370 0.0% * $218,960
Alpha Opportunities Trust DocuSign, Inc., Series B 2/28/2014 $11,360 865 865 0.0% * $12,992
Alpha Opportunities Trust DocuSign, Inc., Series B1 3/3/2014 $3,401 259 259 0.0% * $3,890
Alpha Opportunities Trust DocuSign, Inc., Series D 3/3/2014 $8,155 621 621 0.0% * $9,327
Alpha Opportunities Trust DocuSign, Inc., Series E 3/3/2014 $211,051 16,071 16,071 0.0% * $241,386
Alpha Opportunities Trust DraftKings, Inc. 12/4/2014 $135,907 75,450 75,450 0.0% * $135,907
Alpha Opportunities Trust Dropbox, Inc., Series C 1/28/2014 $208,108 10,895 10,895 0.0% * $193,059
Alpha Opportunities Trust Essence Group Holdings Corp. 5/1/2014 $321,999 203,629 203,629 0.1% $384,859
Alpha Opportunities Trust Forward Venture 11/20/2014 $446,608 14,346 14,346 0.1% $406,008
Alpha Opportunities Trust Lithium Technology Corp. 8/18/2014 $415,250 85,197 85,197 0.1% $443,024

398


Alpha Opportunities Trust     Lookout, Inc., Series F     7/31/2014     $287,565     25,174     25,174     0.0% *     $287,565
Alpha Opportunities Trust Nutanix, Inc. 8/25/2014 $430,389 32,127 32,127 0.1%     $502,788
Alpha Opportunities Trust Pinterest, Inc., Series G 3/16/2015 $1,163,695 - 32,419 0.2% $1,163,695
Bought: 32,419 shares
Alpha Opportunities Trust Pure Storage, Inc., Series F 4/16/2014 $985,385 62,660 62,660 0.2% $1,110,962
Alpha Opportunities Trust Redfin Corp. 12/15/2014 $257,887 78,202 78,202 0.0% * $257,887
Alpha Opportunities Trust The Honest Company, Inc. (Common Stock) 8/20/2014 $103,927 3,841 3,841 0.0% * $95,718
Alpha Opportunities Trust The Honest Company, Inc. (Preferred Stock) 8/20/2014 $242,515 8,963 8,963 0.0% * $223,358
Alpha Opportunities Trust Uber Technologies, Inc. 6/5/2014 $2,206,328 142,224 142,224 0.6% $4,738,548
Alpha Opportunities Trust Veracode, Inc. 8/26/2014 $345,534 18,712 18,712 0.1% $512,522
Alpha Opportunities Trust WeWork Companies, Inc., Class A 12/8/2014 $42,527 2,554 2,554 0.0% * $42,527
Alpha Opportunities Trust WeWork Companies, Inc., Series D1 12/8/2014 $211,370 12,694 12,694 0.0% * $211,370
Alpha Opportunities Trust WeWork Companies, Inc., Series D2 12/8/2014 $166,079 9,974 9,974 0.0% * $166,079
Alpha Opportunities Trust Zuora, Inc., Series F 1/15/2015 $379,546 - 99,899 0.1% $379,546
Bought: 99,899 shares
  $12,811,716
 
Financial Industries Trust SKBHC Holdings LLC 11/8/2010 $2,579,439 516 516 2.1% $3,612,116
 
Health Sciences Trust Doximity, Inc. 4/10/2014 $152,390 31,611 31,611 0.0% * $152,390
Health Sciences Trust Seres Health, Inc. 11/24/2014 $118,397 9,734 9,734 0.0% * $140,170
$292,560
 
Mid Cap Stock Trust Apigee Corp., Series H 4/17/2014 $3,124,022 1,073,547 1,073,547 0.5% $4,208,304
Mid Cap Stock Trust ConforMIS, Inc. 8/12/2014 $1,628,656 203,582 203,582 0.2% $1,628,656
Mid Cap Stock Trust DocuSign, Inc., Series B 2/28/2014 $81,224 6,185 6,185 0.0% * $92,899
Mid Cap Stock Trust DocuSign, Inc., Series B1 3/3/2014 $24,334 1,853 1,853 0.0% * $27,832
Mid Cap Stock Trust DocuSign, Inc., Series D 3/3/2014 $58,374 4,445 4,445 0.0% * $66,764
Mid Cap Stock Trust DocuSign, Inc., Series E 2/28/2014 $1,509,583 114,951 114,951 0.2% $1,726,564
Mid Cap Stock Trust DraftKings, Inc. 12/4/2014 $975,827 541,740 541,740 0.1% $975,827
Mid Cap Stock Trust Essence Group Holdings Corp. 5/1/2014 $2,308,001 1,459,559 1,459,559 0.3% $2,758,567
Mid Cap Stock Trust Forward Venture 11/20/2014 $3,219,745 103,425 103,425 0.3% $2,927,041
Mid Cap Stock Trust Lithium Technology Corp. 8/18/2014 $3,078,896 631,698 631,698 0.4% $3,284,830
Mid Cap Stock Trust Lookout, Inc., Series F 7/31/2014 $2,122,743 185,829 185,829 0.3% $2,122,743
Mid Cap Stock Trust Nutanix, Inc. 8/25/2014 $1,985,629 148,220 148,220 0.3% $2,319,643
Mid Cap Stock Trust One Kings Lane, Inc. 1/28/2014 $4,666,633 302,694 302,694 0.5% $4,416,305
Mid Cap Stock Trust Pinterest, Inc., Series G 3/16/2015 $2,096,941 - 58,418 0.2% $2,096,941
Bought: 58,418 shares
Mid Cap Stock Trust Pure Storage, Inc., Series F 4/16/2014 $3,324,267 211,388 211,388 0.4% $3,747,909
Mid Cap Stock Trust Redfin Corp. 12/15/2014 $1,825,650 553,613 553,613 0.2% $1,825,650

399


Mid Cap Stock Trust     The Honest Company, Inc. (Common Stock)     8/20/2014     $772,269     28,542     28,542     0.1%         $711,267
Mid Cap Stock Trust The Honest Company, Inc. (Preferred Stock) 8/20/2014 $1,801,962 66,598 66,598 0.2% $1,659,622
Mid Cap Stock Trust Uber Technologies, Inc. 6/5/2014 $9,067,440 584,504 584,504 2.3% $19,474,212
Mid Cap Stock Trust Veracode, Inc. 8/26/2014 $2,528,610 136,934 136,934 0.4% $3,750,622
Mid Cap Stock Trust WeWork Companies, Inc., Class A 12/8/2014 $303,018 18,198 18,198 0.0% * $303,018
Mid Cap Stock Trust WeWork Companies, Inc., Series D1 12/8/2014 $1,506,031 90,446 90,446 0.2% $1,506,031
Mid Cap Stock Trust WeWork Companies, Inc., Series D2 12/8/2014 $1,183,315 71,065 71,065 0.1% $1,183,315
Mid Cap Stock Trust Zuora, Inc., Series F 1/15/2015 $2,719,296 - 715,736 0.3% $2,719,296
Bought: 715,736 shares
$65,533,858
 
Science & Technology Trust Atlassian, Inc. 4/9/2014 $44,336 2,771 2,771 0.0% * $57,360
Science & Technology Trust Atlassian, Inc., Class A 4/9/2014 $30,544 1,909 1,909 0.0% * $39,516
Science & Technology Trust Atlassian, Inc., Class A Ordinary 4/9/2014 $159,488 9,968 9,968 0.0% * $206,338
Science & Technology Trust Atlassian, Inc., Series 1 4/9/2014 $77,824 4,864 4,864 0.0% * $100,685
Science & Technology Trust Atlassian, Inc., Series 2 4/9/2014 $208,352 13,022 13,022 0.1% $269,555
Science & Technology Trust Atlassian, Inc., Series A 4/9/2014 $154,080 9,630 9,630 0.0% * $199,341
Science & Technology Trust Cloudera, Inc., Series F 2/5/2014 $309,065 21,227 21,227 0.1% $656,339
Science & Technology Trust Dropbox, Inc. 5/2/2012 $67,334 7,441 7,441 0.0% * $131,855
Science & Technology Trust Dropbox, Inc., Series A 5/2/2012 $83,623 9,241 9,241 0.0% * $163,751
Science & Technology Trust Dropbox, Inc., Series A1 5/2/2012 $805,424 89,006 89,006 0.3% $1,577,186
Science & Technology Trust Flipkart Limited 3/19/2015 $55,860 - 490 0.0% * $55,748
Bought: 490 shares
Science & Technology Trust Flipkart Limited, Series A 3/19/2015 $19,152 - 168 0.0% * $19,114
Bought: 168 shares
Science & Technology Trust Flipkart Limited, Series C 3/19/2015 $33,630 - 295 0.0% * $33,563
Bought: 295 shares
Science & Technology Trust Flipkart Limited, Series E 3/19/2015 $62,586 - 549 0.0% * $62,461
Bought: 549 shares
Science & Technology Trust Flipkart Limited, Series G 12/17/2014 $377,484 3,152 3,152 0.1% $377,484
$3,950,296
 
Small Cap Growth Trust Apigee Corp., Series H 4/17/2014 $1,828,950 628,505 628,505 0.5% $2,463,740
Small Cap Growth Trust Cloudera, Inc., Series F 2/5/2014 $1,153,560 79,228 79,228 0.5% $2,449,730
Small Cap Growth Trust DocuSign, Inc., Series B 2/28/2014 $38,557 2,936 2,936 0.0% * $44,099
Small Cap Growth Trust DocuSign, Inc., Series B1 3/3/2014 $11,557 880 880 0.0% * $13,218
Small Cap Growth Trust DocuSign, Inc., Series D 3/3/2014 $27,709 2,110 2,110 0.0% * $31,692
Small Cap Growth Trust DocuSign, Inc., Series E 3/3/2014 $716,674 54,573 54,573 0.2% $819,686
Small Cap Growth Trust Nutanix, Inc. 8/25/2014 $1,165,629 87,010 87,010 0.3% $1,361,707
Small Cap Growth Trust Pure Storage, Inc., Series F 4/16/2014 $1,398,378 88,922 88,922 0.3% $1,576,587

400


Small Cap Growth Trust     Telogis, Inc. (Common Stock)     9/27/2013     $938,340     473,646     473,646     0.1%     $606,267
Small Cap Growth Trust Telogis, Inc. (Preferred Stock) 9/27/2013 $1,419,833 645,027 645,027 0.4% $2,173,741
Small Cap Growth Trust   Veracode, Inc. 8/26/2014 $1,211,529 65,609 65,609 0.4% $1,797,031
Small Cap Growth Trust Zuora, Inc., Series F 1/15/2015 $1,533,808 - 403,708 0.3% $1,533,808
Bought: 403,708 shares
$14,871,306

*Less than 0.05%

For additional information on the portfolios’ significant accounting policies, please refer to the portfolios’ most recent semiannual or annual shareholder report.

401

 

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: May 18, 2015

 

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: May 18, 2015

 

 

/s/ Charles A. Rizzo
Charles A. Rizzo
Chief Financial Officer

 

Date: May 18, 2015