N-CSRS/A 1 f9625d1.htm N-CSRS/A

EXPLANATORY NOTE

The Registrant is filing this amendment to its Form N-CSR for the period ended June 30, 2021, originally filed with the Securities and Exchange Commission on August 27, 2021 (Accession Number 0001683863-21-004746). The sole purpose of this filing is to include an additional attachment in Item 1, which was inadvertently omitted in the original filing.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number 811-04146

JOHN HANCOCK VARIABLE INSURANCE TRUST

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(Exact name of registrant as specified in charter)

200 Berkeley Street, BOSTON, MA 02116

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(Address of principal executive offices) (Zip code)

SALVATORE SCHIAVONE, 200 Berkeley Street, BOSTON, MA 02116

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(Name and address of agent for service)

Registrant's telephone number, including area code: (617) 663-4497

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Date of fiscal year end: 12/31

Date of reporting period: 6/30/21

Explanatory Note

The Registrant is filing this amendment to its Form N-CSR for the period ended June 30, 2021, originally filed with the Securities and Exchange Commission on August 27, 2021 (Accession Number 0001683863-21-004746). The sole purpose of this filing is to include an additional attachment in Item 1, which was inadvertently omitted in the original filing.

Items 2 through 13 to this Form N-CSR/A are incorporated by reference to the Form N-CSR filed on EDGAR on August 27, 2021 (Accession Number 0001683863-21-004746).

ITEM 1. REPORTS TO STOCKHOLDERS.

The Registrant prepared three semiannual reports to shareholders for the period ended June 30, 2021. The first report applies to 35 of the Registrant's portfolios, the second report applies to 11 of the Registrant's portfolios and the third report applies to 4 of the Registrant's portfolios. In addition, the June 30, 2021 semiannual report for American Funds Insurance Series, which includes master funds in which the Registrant's portfolios invest, is included herein.

JOHN HANCOCK

Variable Insurance Trust

Semiannual report

June 30, 2021

John Hancock Variable Insurance Trust

Semiannual report — Table of contents

Sector weightings	3
Shareholder expense example	6
Summary Portfolio of investments (See below for each portfolio’s page #)	11
Statements of assets and liabilities	49
Statements of operations	58
Statements of changes in net assets	67
Financial highlights	73
Notes to financial statements	91
Special shareholder meeting (unaudited)	135
Evaluation of advisory and subadvisory agreements by the Board of Trustees	136
Appendix A	140
Statement regarding liquidity risk management	152
For more information	153

Portfolio	Summary Portfolio of investments
500 Index Trust		11
American Asset Allocation Trust		12
American Global Growth Trust		12
American Growth Trust		12
American Growth-Income Trust		12
American International Trust		13
Blue Chip Growth Trust		13
Capital Appreciation Trust		13
Capital Appreciation Value Trust		14
Disciplined Value International Trust		21
Emerging Markets Value Trust		22
Equity Income Trust		24
Financial Industries Trust		25
Fundamental All Cap Core Trust		25
Fundamental Large Cap Value Trust		26
Global Equity Trust		27
Health Sciences Trust		28
International Equity Index Trust		29

Portfolio	Summary Portfolio of investments
International Small Company Trust		31
Lifestyle Balanced Portfolio		33
Lifestyle Conservative Portfolio		33
Lifestyle Growth Portfolio		33
Lifestyle Moderate Portfolio		33
Mid Cap Index Trust		34
Mid Cap Stock Trust		35
Mid Value Trust		36
Real Estate Securities Trust		37
Science & Technology Trust		37
Small Cap Index Trust		38
Small Cap Opportunities Trust		40
Small Cap Stock Trust		41
Small Cap Value Trust		42
Small Company Value Trust		43
Strategic Equity Allocation Trust		44
Total Stock Market Index Trust		45

Table of Contents

John Hancock Variable Insurance Trust

Sector weightings

500 Index Trust

Sector Composition (% of net assets)
Information technology	26.8
Health care	12.7
Consumer discretionary	12.0
Financials	11.0
Communication services	10.9
Industrials	8.3
Consumer staples	5.7
Energy	2.8
Materials	2.5
Real estate	2.5
Utilities	2.4
Short-term investments and other	2.4

American Asset Allocation Trust

Portfolio Composition (% of net assets)*
Common stocks	70.3
Corporate bonds	11.8
U.S. Government and Agency obligations	7.5
Collateralized mortgage obligations	5.5
Asset backed securities	1.0
Foreign government obligations	0.2
Municipal bonds	0.1
Short-term investments and other	3.6

American Global Growth Trust

Sector Composition (% of net assets)*
Information technology	31.9
Consumer discretionary	18.3
Health care	13.8
Communication services	9.7
Financials	8.8
Consumer staples	5.5
Industrials	3.5
Materials	1.8
Energy	1.1
Real estate	0.4
Utilities	0.2
Short-term investments and other	5.0

American Growth Trust

Sector Composition (% of net assets)*
Information technology	22.5
Communication services	20.4
Consumer discretionary	17.5
Health care	12.7
Industrials	8.6
Financials	6.4
Consumer staples	3.2
Materials	2.9
Energy	2.2
Utilities	0.6
Real estate	0.2
Short-term investments and other	2.8

American Growth-Income Trust

Sector Composition (% of net assets)*
Information technology	22.6
Communication services	16.8
Health care	11.9
Industrials	10.3
Financials	10.1
Consumer discretionary	8.9
Materials	4.9
Consumer staples	4.4
Energy	3.0
Real estate	2.5
Utilities	2.3
Short-term investments and other	2.3

American International Trust

Sector Composition (% of net assets)*
Financials	20.0
Health care	13.3
Industrials	12.5
Consumer discretionary	12.0
Information technology	10.5
Energy	8.5
Materials	7.7
Communication services	6.7
Consumer staples	2.9
Utilities	2.7
Real estate	0.2
Short-term investments and other	3.0

Blue Chip Growth Trust

Sector Composition (% of net assets)
Information technology	38.4
Communication services	27.0
Consumer discretionary	18.3
Health care	10.6
Financials	2.8
Industrials	2.0
Materials	0.5
Short-term investments and other	0.4

Capital Appreciation Trust

Sector Composition (% of net assets)
Information technology	43.9
Consumer discretionary	26.0
Communication services	17.6
Health care	4.5
Industrials	3.6
Consumer staples	3.0
Financials	1.3
Short-term investments and other	0.1

Capital Appreciation Value Trust

Portfolio Composition (% of net assets)
Common stocks	71.1
Term loans	8.5
Corporate bonds	7.7
Preferred securities	1.2
Asset backed securities	0.3
Short-term investments and other	11.2

Disciplined Value International Trust

Sector Composition (% of net assets)
Industrials	22.2
Financials	20.5
Consumer discretionary	11.1
Materials	10.8
Health care	9.8
Information technology	5.9
Energy	5.3
Consumer staples	5.0
Communication services	4.8
Real estate	1.3
Utilities	0.9
Short-term investments and other	2.4

Emerging Markets Value Trust

Sector Composition (% of net assets)
Financials	26.3
Materials	14.7
Information technology	11.5
Industrials	10.0
Consumer discretionary	9.8
Energy	9.6
Real estate	5.8
Communication services	3.4
Health care	2.8
Consumer staples	2.8
Utilities	1.6
Short-term investments and other	1.7

Equity Income Trust

Sector Composition (% of net assets)
Financials	22.7
Health care	14.8
Industrials	11.9
Information technology	8.9
Utilities	8.2
Consumer staples	6.9
Energy	6.2
Materials	5.8
Communication services	5.0
Consumer discretionary	4.4
Real estate	4.1
Short-term investments and other	1.1

Table of Contents

John Hancock Variable Insurance Trust

Sector weightings

Financial Industries Trust

Industry Composition (% of net assets)
Banks	45.0
Insurance	16.3
Capital markets	15.6
Consumer finance	7.6
IT services	4.8
Diversified financial services	4.0
Equity real estate investment trusts	3.6
Thrifts and mortgage finance	1.0
Real estate management and development	0.5
Short-term investments and other	1.6

Fundamental All Cap Core Trust

Sector Composition (% of net assets)
Consumer discretionary	19.2
Financials	17.3
Communication services	16.4
Information technology	12.6
Industrials	8.7
Consumer staples	7.6
Health care	6.7
Energy	5.3
Real estate	3.9
Materials	0.9
Short-term investments and other	1.4

Fundamental Large Cap Value Trust

Sector Composition (% of net assets)
Financials	23.8
Health care	13.4
Industrials	12.3
Communication services	9.9
Energy	9.7
Consumer staples	9.1
Consumer discretionary	8.0
Information technology	8.0
Real estate	2.4
Materials	1.0
Short-term investments and other	2.4

Global Equity Trust

Sector Composition (% of net assets)
Industrials	14.1
Information technology	13.9
Communication services	13.8
Financials	13.1
Health care	12.7
Consumer staples	11.9
Consumer discretionary	11.8
Materials	5.2
Energy	1.4
Real estate	0.9
Short-term investments and other	1.2

Health Sciences Trust

Industry Composition (% of net assets)
Biotechnology	34.1
Health care equipment and supplies	21.6
Health care providers and services	17.9
Life sciences tools and services	11.3
Pharmaceuticals	10.6
Health care technology	2.8
Specialty retail	0.3
Capital markets	0.3
Insurance	0.3
Diversified consumer services	0.1
Short-term investments and other	0.7

International Equity Index Trust

Sector Composition (% of net assets)
Financials	17.8
Consumer discretionary	13.4
Information technology	12.7
Industrials	11.6
Health care	9.0
Consumer staples	8.3
Materials	8.0
Communication services	6.4
Energy	4.6
Utilities	3.0
Real estate	2.5
Short-term investments and other	2.7

International Small Company Trust

Sector Composition (% of net assets)
Industrials	23.9
Consumer discretionary	12.9
Financials	12.6
Materials	11.1
Information technology	10.7
Health care	5.7
Consumer staples	5.4
Real estate	4.8
Communication services	4.3
Energy	4.0
Utilities	3.3
Short-term investments and other	1.3

Lifestyle Balanced Portfolio

Asset Allocation (% of net assets)
Equity	50.0
Fixed income	50.0

Lifestyle Conservative Portfolio

Asset Allocation (% of net assets)
Fixed income	80.0
Equity	20.0

Lifestyle Growth Portfolio

Asset Allocation (% of net assets)
Equity	70.0
Fixed income	30.0

Lifestyle Moderate Portfolio

Asset Allocation (% of net assets)
Fixed income	60.1
Equity	39.9

Mid Cap Index Trust

Sector Composition (% of net assets)
Industrials	17.0
Financials	14.3
Consumer discretionary	14.0
Information technology	13.6
Health care	10.0
Real estate	9.1
Materials	6.0
Consumer staples	3.3
Utilities	3.1
Energy	2.0
Communication services	1.7
Short-term investments and other	5.9

Mid Cap Stock Trust

Sector Composition (% of net assets)
Consumer discretionary	32.1
Information technology	22.3
Health care	20.9
Communication services	8.6
Industrials	7.7
Financials	4.4
Consumer staples	2.5
Real estate	0.1
Short-term investments and other	1.4

Mid Value Trust

Sector Composition (% of net assets)
Health care	16.5
Financials	16.2
Energy	12.7
Materials	9.5
Consumer staples	8.5
Utilities	6.9
Industrials	6.6
Real estate	6.1
Communication services	4.7
Consumer discretionary	2.7
Information technology	2.4
Short-term investments and other	7.2

Table of Contents

John Hancock Variable Insurance Trust

Sector weightings

Real Estate Securities Trust

Portfolio Composition (% of net assets)
Specialized REITs	26.0
Residential REITs	20.8
Industrial REITs	14.6
Retail REITs	11.8
Health care REITs	8.0
Office REITs	7.0
Real estate services	3.3
Hotel and resort REITs	3.0
Health care facilities	2.3
Hotels, resorts and cruise lines	1.4
Casinos and gaming	1.3
Short-term investments and other	0.5

Science & Technology Trust

Sector Composition (% of net assets)
Information technology	55.2
Consumer discretionary	23.8
Communication services	15.3
Industrials	0.7
Health care	0.7
Short-term investments and other	4.3

Small Cap Index Trust

Sector Composition (% of net assets)
Health care	20.2
Financials	14.1
Industrials	13.5
Information technology	13.0
Consumer discretionary	11.4
Real estate	6.5
Energy	4.1
Materials	3.6
Communication services	3.4
Consumer staples	3.0
Utilities	2.3
Short-term investments and other	4.9

Small Cap Opportunities Trust

Sector Composition (% of net assets)
Financials	20.5
Industrials	18.6
Consumer discretionary	14.0
Health care	13.0
Information technology	12.5
Materials	6.8
Energy	5.8
Consumer staples	4.1
Communication services	2.1
Real estate	1.5
Utilities	0.6
Short-term investments and other	0.5

Small Cap Stock Trust

Sector Composition (% of net assets)
Information technology	28.5
Health care	27.7
Consumer discretionary	19.6
Industrials	11.1
Communication services	3.9
Financials	3.8
Real estate	3.4
Consumer staples	1.4
Materials	0.6

Small Cap Value Trust

Sector Composition (% of net assets)
Industrials	24.2
Financials	23.4
Real estate	9.2
Information technology	7.4
Materials	7.1
Health care	7.1
Consumer staples	5.8
Consumer discretionary	5.4
Utilities	3.9
Energy	3.5
Short-term investments and other	3.0

Small Company Value Trust

Sector Composition (% of net assets)
Financials	25.9
Industrials	16.1
Consumer discretionary	10.7
Real estate	8.7
Health care	8.3
Information technology	6.7
Energy	6.5
Materials	5.7
Utilities	4.0
Consumer staples	3.0
Communication services	2.4
Short-term investments and other	2.0

Strategic Equity Allocation Trust

Sector Composition (% of net assets)
Information technology	19.0
Financials	12.8
Health care	12.4
Consumer discretionary	12.0
Industrials	11.1
Communication services	7.7
Consumer staples	6.7
Materials	4.4
Real estate	3.3
Energy	2.9
Utilities	2.7
Short-term investments and other	5.0

Total Stock Market Index Trust

Sector Composition (% of net assets)
Information technology	25.2
Health care	12.4
Consumer discretionary	12.4
Financials	11.1
Communication services	10.7
Industrials	8.7
Consumer staples	5.6
Real estate	3.1
Energy	3.0
Materials	2.3
Utilities	2.1
Short-term investments and other	3.4

*	The weightings represent the holdings of the American Funds Insurance Series. For further details, please visit the American Funds website at americanfunds.com/afis.

Table of Contents

John Hancock Variable Insurance Trust

Shareholder expense example

As a shareholder of a portfolio of John Hancock Variable Insurance Trust, you incur ongoing costs, such as management fees, distribution (Rule 12b-1) fees and other expenses. In the case of the American Portfolios and the Lifestyle Portfolios, in addition to the operating expenses which the portfolio bears directly, the portfolio indirectly bears a pro rata share of the operating expenses of the underlying funds in which the portfolio invests. Because the underlying funds have varied operating expenses and transaction costs and the portfolio may own different proportions of the underlying funds at different times, the amount of expenses incurred indirectly by the portfolio will vary. Had these indirect expenses been reflected in the following analysis, total expenses would be higher than amounts shown.

These examples are intended to help you understand your ongoing costs (in dollars) of investing in a portfolio so you can compare these costs with the ongoing costs of investing in other mutual funds. The examples are based on an investment of $1,000 at the beginning of the period and held for the entire period (January 1, 2021 through June 30, 2021).

Actual expenses:

The first line of each share class in the following table provides information about actual account values and actual expenses. You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading entitled “Expenses paid during period ended” to estimate the expenses you paid on your account during this period.

Hypothetical example for comparison purposes:

The second line of each share class in the following table provides information about hypothetical account values and hypothetical expenses based on the actual expense ratio for the share class and an assumed annualized rate of return of 5% per year before expenses, which is not the actual return of the share class. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the portfolio and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. Please remember that these hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs and insurance-related charges. Therefore, the second line of each share class in the table is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would have been higher.

		Account value on 1-1-2021	Ending value on 6-30-2021	Expenses paid during period ended 6-30-2021¹	Annualized expense ratio
500 Index Trust
Series I	Actual expenses/actual returns	$1,000.00	$1,150.60	$1.60	0.30%
	Hypothetical example	1,000.00	1,023.30	1.51	0.30%
Series II	Actual expenses/actual returns	1,000.00	1,149.70	2.67	0.50%
	Hypothetical example	1,000.00	1,022.30	2.51	0.50%
Series NAV	Actual expenses/actual returns	1,000.00	1,151.10	1.33	0.25%
	Hypothetical example	1,000.00	1,023.60	1.25	0.25%
American Asset Allocation Trust
Series I	Actual expenses/actual returns	$1,000.00	$1,098.70	$3.23	0.62%²
	Hypothetical example	1,000.00	1,021.70	3.11	0.62%²
Series II	Actual expenses/actual returns	1,000.00	1,098.70	3.69	0.71%²
	Hypothetical example	1,000.00	1,021.30	3.56	0.71%²
Series III	Actual expenses/actual returns	1,000.00	1,101.10	1.41	0.27%²
	Hypothetical example	1,000.00	1,023.50	1.35	0.27%²
American Global Growth Trust
Series I	Actual expenses/actual returns	$1,000.00	$1,113.90	$3.30	0.63%²
	Hypothetical example	1,000.00	1,021.70	3.16	0.63%²
Series II	Actual expenses/actual returns	1,000.00	1,113.90	3.67	0.70%²
	Hypothetical example	1,000.00	1,021.30	3.51	0.70%²
Series III	Actual expenses/actual returns	1,000.00	1,115.90	1.47	0.28%²
	Hypothetical example	1,000.00	1,023.40	1.40	0.28%²

Table of Contents

John Hancock Variable Insurance Trust

Shareholder expense example

		Account value on 1-1-2021	Ending value on 6-30-2021	Expenses paid during period ended 6-30-2021¹	Annualized expense ratio
American Growth Trust
Series I	Actual expenses/actual returns	$1,000.00	$1,127.00	$3.27	0.62%²
	Hypothetical example	1,000.00	1,021.70	3.11	0.62%²
Series II	Actual expenses/actual returns	1,000.00	1,126.60	3.59	0.68%²
	Hypothetical example	1,000.00	1,021.40	3.41	0.68%²
Series III	Actual expenses/actual returns	1,000.00	1,128.90	1.43	0.27%²
	Hypothetical example	1,000.00	1,023.50	1.35	0.27%²
American Growth-Income Trust
Series I	Actual expenses/actual returns	$1,000.00	$1,139.30	$3.29	0.62%²
	Hypothetical example	1,000.00	1,021.70	3.11	0.62%²
Series II	Actual expenses/actual returns	1,000.00	1,138.70	3.71	0.70%²
	Hypothetical example	1,000.00	1,021.30	3.51	0.70%²
Series III	Actual expenses/actual returns	1,000.00	1,141.50	1.43	0.27%²
	Hypothetical example	1,000.00	1,023.50	1.35	0.27%²
American International Trust
Series I	Actual expenses/actual returns	$1,000.00	$1,043.90	$3.14	0.62%²
	Hypothetical example	1,000.00	1,021.70	3.11	0.62%²
Series II	Actual expenses/actual returns	1,000.00	1,043.50	3.80	0.75%²
	Hypothetical example	1,000.00	1,021.10	3.76	0.75%²
Series III	Actual expenses/actual returns	1,000.00	1,045.50	1.37	0.27%²
	Hypothetical example	1,000.00	1,023.50	1.35	0.27%²
Blue Chip Growth Trust
Series I	Actual expenses/actual returns	$1,000.00	$1,124.10	$4.11	0.78%
	Hypothetical example	1,000.00	1,020.90	3.91	0.78%
Series II	Actual expenses/actual returns	1,000.00	1,122.70	5.16	0.98%
	Hypothetical example	1,000.00	1,019.90	4.91	0.98%
Series NAV	Actual expenses/actual returns	1,000.00	1,124.20	3.84	0.73%
	Hypothetical example	1,000.00	1,021.20	3.66	0.73%
Capital Appreciation Trust
Series I	Actual expenses/actual returns	$1,000.00	$1,101.30	$4.06	0.78%
	Hypothetical example	1,000.00	1,020.90	3.91	0.78%
Series II	Actual expenses/actual returns	1,000.00	1,100.50	5.10	0.98%
	Hypothetical example	1,000.00	1,019.90	4.91	0.98%
Series NAV	Actual expenses/actual returns	1,000.00	1,100.50	3.80	0.73%
	Hypothetical example	1,000.00	1,021.20	3.66	0.73%
Capital Appreciation Value Trust
Series I	Actual expenses/actual returns	$1,000.00	$1,097.80	$4.58	0.88%
	Hypothetical example	1,000.00	1,020.40	4.41	0.88%
Series II	Actual expenses/actual returns	1,000.00	1,096.80	5.61	1.08%
	Hypothetical example	1,000.00	1,019.40	5.41	1.08%
Series NAV	Actual expenses/actual returns	1,000.00	1,098.10	4.32	0.83%
	Hypothetical example	1,000.00	1,020.70	4.16	0.83%
Disciplined Value International Trust
Series I	Actual expenses/actual returns	$1,000.00	$1,118.00	$4.78	0.91%
	Hypothetical example	1,000.00	1,020.30	4.56	0.91%
Series II	Actual expenses/actual returns	1,000.00	1,116.60	5.83	1.11%
	Hypothetical example	1,000.00	1,019.30	5.56	1.11%
Series NAV	Actual expenses/actual returns	1,000.00	1,118.20	4.52	0.86%
	Hypothetical example	1,000.00	1,020.50	4.31	0.86%
Emerging Markets Value Trust
Series I	Actual expenses/actual returns	$1,000.00	$1,161.30	$5.84	1.09%
	Hypothetical example	1,000.00	1,019.40	5.46	1.09%
Series II	Actual expenses/actual returns	1,000.00	1,160.30	6.91	1.29%
	Hypothetical example	1,000.00	1,018.40	6.46	1.29%
Series NAV	Actual expenses/actual returns	1,000.00	1,160.50	5.57	1.04%
	Hypothetical example	1,000.00	1,019.60	5.21	1.04%

Table of Contents

John Hancock Variable Insurance Trust

Shareholder expense example

		Account value on 1-1-2021	Ending value on 6-30-2021	Expenses paid during period ended 6-30-2021¹	Annualized expense ratio
Equity Income Trust
Series I	Actual expenses/actual returns	$1,000.00	$1,182.70	$4.00	0.74%
	Hypothetical example	1,000.00	1,021.10	3.71	0.74%
Series II	Actual expenses/actual returns	1,000.00	1,181.80	5.09	0.94%
	Hypothetical example	1,000.00	1,020.10	4.71	0.94%
Series NAV	Actual expenses/actual returns	1,000.00	1,183.20	3.74	0.69%
	Hypothetical example	1,000.00	1,021.40	3.46	0.69%
Financial Industries Trust
Series I	Actual expenses/actual returns	$1,000.00	$1,183.00	$4.87	0.90%
	Hypothetical example	1,000.00	1,020.30	4.51	0.90%
Series II	Actual expenses/actual returns	1,000.00	1,181.50	5.95	1.10%
	Hypothetical example	1,000.00	1,019.30	5.51	1.10%
Series NAV	Actual expenses/actual returns	1,000.00	1,182.00	4.60	0.85%
	Hypothetical example	1,000.00	1,020.60	4.26	0.85%
Fundamental All Cap Core Trust
Series I	Actual expenses/actual returns	$1,000.00	$1,201.00	$4.09	0.75%
	Hypothetical example	1,000.00	1,021.10	3.76	0.75%
Series II	Actual expenses/actual returns	1,000.00	1,199.60	5.18	0.95%
	Hypothetical example	1,000.00	1,020.10	4.76	0.95%
Series NAV	Actual expenses/actual returns	1,000.00	1,201.00	3.82	0.70%
	Hypothetical example	1,000.00	1,021.30	3.51	0.70%
Fundamental Large Cap Value Trust
Series I	Actual expenses/actual returns	$1,000.00	$1,221.10	$4.19	0.76%
	Hypothetical example	1,000.00	1,021.00	3.81	0.76%
Series II	Actual expenses/actual returns	1,000.00	1,219.90	5.28	0.96%
	Hypothetical example	1,000.00	1,020.00	4.81	0.96%
Series NAV	Actual expenses/actual returns	1,000.00	1,221.40	3.91	0.71%
	Hypothetical example	1,000.00	1,021.30	3.56	0.71%
Global Equity Trust
Series I	Actual expenses/actual returns	$1,000.00	$1,131.20	$4.97	0.94%
	Hypothetical example	1,000.00	1,020.10	4.71	0.94%
Series II	Actual expenses/actual returns	1,000.00	1,129.30	6.02	1.14%
	Hypothetical example	1,000.00	1,019.10	5.71	1.14%
Series NAV	Actual expenses/actual returns	1,000.00	1,130.80	4.70	0.89%
	Hypothetical example	1,000.00	1,020.40	4.46	0.89%
Health Sciences Trust
Series I	Actual expenses/actual returns	$1,000.00	$1,084.60	$5.22	1.01%
	Hypothetical example	1,000.00	1,019.80	5.06	1.01%
Series II	Actual expenses/actual returns	1,000.00	1,083.70	6.25	1.21%
	Hypothetical example	1,000.00	1,018.80	6.06	1.21%
Series NAV	Actual expenses/actual returns	1,000.00	1,084.90	4.96	0.96%
	Hypothetical example	1,000.00	1,020.00	4.81	0.96%
International Equity Index Trust
Series I	Actual expenses/actual returns	$1,000.00	$1,092.10	$2.02	0.39%
	Hypothetical example	1,000.00	1,022.90	1.96	0.39%
Series II	Actual expenses/actual returns	1,000.00	1,090.90	3.06	0.59%
	Hypothetical example	1,000.00	1,021.90	2.96	0.59%
Series NAV	Actual expenses/actual returns	1,000.00	1,092.10	1.76	0.34%
	Hypothetical example	1,000.00	1,023.10	1.71	0.34%
International Small Company Trust
Series I	Actual expenses/actual returns	$1,000.00	$1,118.10	$5.72	1.09%
	Hypothetical example	1,000.00	1,019.40	5.46	1.09%
Series II	Actual expenses/actual returns	1,000.00	1,116.90	6.77	1.29%
	Hypothetical example	1,000.00	1,018.40	6.46	1.29%
Series NAV	Actual expenses/actual returns	1,000.00	1,118.70	5.46	1.04%
	Hypothetical example	1,000.00	1,019.60	5.21	1.04%

Table of Contents

John Hancock Variable Insurance Trust

Shareholder expense example

		Account value on 1-1-2021	Ending value on 6-30-2021	Expenses paid during period ended 6-30-2021¹	Annualized expense ratio
Lifestyle Balanced Portfolio
Series I	Actual expenses/actual returns	$1,000.00	$1,059.10	$0.56	0.11%²
	Hypothetical example	1,000.00	1,024.20	0.55	0.11%²
Series II	Actual expenses/actual returns	1,000.00	1,057.80	1.58	0.31%²
	Hypothetical example	1,000.00	1,023.30	1.56	0.31%²
Series NAV	Actual expenses/actual returns	1,000.00	1,059.20	0.31	0.06%²
	Hypothetical example	1,000.00	1,024.50	0.30	0.06%²
Lifestyle Conservative Portfolio
Series I	Actual expenses/actual returns	$1,000.00	$1,017.30	$0.65	0.13%²
	Hypothetical example	1,000.00	1,024.10	0.65	0.13%²
Series II	Actual expenses/actual returns	1,000.00	1,015.90	1.65	0.33%²
	Hypothetical example	1,000.00	1,023.20	1.66	0.33%²
Series NAV	Actual expenses/actual returns	1,000.00	1,017.30	0.40	0.08%²
	Hypothetical example	1,000.00	1,024.40	0.40	0.08%²
Lifestyle Growth Portfolio
Series I	Actual expenses/actual returns	$1,000.00	$1,088.30	$0.57	0.11%²
	Hypothetical example	1,000.00	1,024.20	0.55	0.11%²
Series II	Actual expenses/actual returns	1,000.00	1,087.00	1.60	0.31%²
	Hypothetical example	1,000.00	1,023.30	1.56	0.31%²
Series NAV	Actual expenses/actual returns	1,000.00	1,088.90	0.31	0.06%²
	Hypothetical example	1,000.00	1,024.50	0.30	0.06%²
Lifestyle Moderate Portfolio
Series I	Actual expenses/actual returns	$1,000.00	$1,045.10	$0.66	0.13%²
	Hypothetical example	1,000.00	1,024.10	0.65	0.13%²
Series II	Actual expenses/actual returns	1,000.00	1,043.80	1.67	0.33%²
	Hypothetical example	1,000.00	1,023.20	1.66	0.33%²
Series NAV	Actual expenses/actual returns	1,000.00	1,045.10	0.41	0.08%²
	Hypothetical example	1,000.00	1,024.40	0.40	0.08%²
Mid Cap Index Trust
Series I	Actual expenses/actual returns	$1,000.00	$1,173.90	$2.43	0.45%
	Hypothetical example	1,000.00	1,022.60	2.26	0.45%
Series II	Actual expenses/actual returns	1,000.00	1,172.10	3.50	0.65%
	Hypothetical example	1,000.00	1,021.60	3.26	0.65%
Series NAV	Actual expenses/actual returns	1,000.00	1,173.90	2.16	0.40%
	Hypothetical example	1,000.00	1,022.80	2.01	0.40%
Mid Cap Stock Trust
Series I	Actual expenses/actual returns	$1,000.00	$1,080.90	$4.70	0.91%
	Hypothetical example	1,000.00	1,020.30	4.56	0.91%
Series II	Actual expenses/actual returns	1,000.00	1,080.20	5.73	1.11%
	Hypothetical example	1,000.00	1,019.30	5.56	1.11%
Series NAV	Actual expenses/actual returns	1,000.00	1,081.60	4.44	0.86%
	Hypothetical example	1,000.00	1,020.50	4.31	0.86%
Mid Value Trust
Series I	Actual expenses/actual returns	$1,000.00	$1,195.50	$5.39	0.99%
	Hypothetical example	1,000.00	1,019.90	4.96	0.99%
Series II	Actual expenses/actual returns	1,000.00	1,194.30	6.47	1.19%
	Hypothetical example	1,000.00	1,018.90	5.96	1.19%
Series NAV	Actual expenses/actual returns	1,000.00	1,194.90	5.12	0.94%
	Hypothetical example	1,000.00	1,020.10	4.71	0.94%
Real Estate Securities Trust
Series I	Actual expenses/actual returns	$1,000.00	$1,226.70	$4.42	0.80%
	Hypothetical example	1,000.00	1,020.80	4.01	0.80%
Series II	Actual expenses/actual returns	1,000.00	1,225.20	5.52	1.00%
	Hypothetical example	1,000.00	1,019.80	5.01	1.00%
Series NAV	Actual expenses/actual returns	1,000.00	1,227.20	4.14	0.75%
	Hypothetical example	1,000.00	1,021.10	3.76	0.75%

Table of Contents

John Hancock Variable Insurance Trust

Shareholder expense example

		Account value on 1-1-2021	Ending value on 6-30-2021	Expenses paid during period ended 6-30-2021¹	Annualized expense ratio
Science & Technology Trust
Series I	Actual expenses/actual returns	$1,000.00	$1,100.10	$5.52	1.06%
	Hypothetical example	1,000.00	1,019.50	5.31	1.06%
Series II	Actual expenses/actual returns	1,000.00	1,099.00	6.56	1.26%
	Hypothetical example	1,000.00	1,018.50	6.31	1.26%
Series NAV	Actual expenses/actual returns	1,000.00	1,100.40	5.26	1.01%
	Hypothetical example	1,000.00	1,019.80	5.06	1.01%
Small Cap Index Trust
Series I	Actual expenses/actual returns	$1,000.00	$1,174.10	$2.75	0.51%
	Hypothetical example	1,000.00	1,022.30	2.56	0.51%
Series II	Actual expenses/actual returns	1,000.00	1,172.20	3.82	0.71%
	Hypothetical example	1,000.00	1,021.30	3.56	0.71%
Series NAV	Actual expenses/actual returns	1,000.00	1,174.50	2.48	0.46%
	Hypothetical example	1,000.00	1,022.50	2.31	0.46%
Small Cap Opportunities Trust
Series I	Actual expenses/actual returns	$1,000.00	$1,238.90	$5.05	0.91%
	Hypothetical example	1,000.00	1,020.30	4.56	0.91%
Series II	Actual expenses/actual returns	1,000.00	1,237.80	6.16	1.11%
	Hypothetical example	1,000.00	1,019.30	5.56	1.11%
Series NAV	Actual expenses/actual returns	1,000.00	1,238.90	4.77	0.86%
	Hypothetical example	1,000.00	1,020.50	4.31	0.86%
Small Cap Stock Trust
Series I	Actual expenses/actual returns	$1,000.00	$1,045.30	$5.53	1.09%
	Hypothetical example	1,000.00	1,019.40	5.46	1.09%
Series II	Actual expenses/actual returns	1,000.00	1,045.00	6.54	1.29%
	Hypothetical example	1,000.00	1,018.40	6.46	1.29%
Series NAV	Actual expenses/actual returns	1,000.00	1,046.00	5.28	1.04%
	Hypothetical example	1,000.00	1,019.60	5.21	1.04%
Small Cap Value Trust
Series I	Actual expenses/actual returns	$1,000.00	$1,204.10	$5.57	1.02%
	Hypothetical example	1,000.00	1,019.70	5.11	1.02%
Series II	Actual expenses/actual returns	1,000.00	1,203.00	6.66	1.22%
	Hypothetical example	1,000.00	1,018.70	6.11	1.22%
Series NAV	Actual expenses/actual returns	1,000.00	1,205.10	5.30	0.97%
	Hypothetical example	1,000.00	1,020.00	4.86	0.97%
Small Company Value Trust
Series I	Actual expenses/actual returns	$1,000.00	$1,161.10	$5.95	1.11%
	Hypothetical example	1,000.00	1,019.30	5.56	1.11%
Series II	Actual expenses/actual returns	1,000.00	1,160.20	7.02	1.31%
	Hypothetical example	1,000.00	1,018.30	6.56	1.31%
Series NAV	Actual expenses/actual returns	1,000.00	1,162.20	5.68	1.06%
	Hypothetical example	1,000.00	1,019.50	5.31	1.06%
Strategic Equity Allocation Trust
Series NAV	Actual expenses/actual returns	$1,000.00	$1,132.00	$2.80	0.53%
	Hypothetical example	1,000.00	1,022.20	2.66	0.53%
Total Stock Market Index Trust
Series I	Actual expenses/actual returns	$1,000.00	$1,150.00	$2.61	0.49%
	Hypothetical example	1,000.00	1,022.40	2.46	0.49%
Series II	Actual expenses/actual returns	1,000.00	1,148.90	3.68	0.69%
	Hypothetical example	1,000.00	1,021.40	3.46	0.69%
Series NAV	Actual expenses/actual returns	1,000.00	1,150.50	2.35	0.44%
	Hypothetical example	1,000.00	1,022.60	2.21	0.44%

¹	Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period).
²	Ratios do not include expenses indirectly incurred by the underlying funds and can vary based on the mix of underlying funds held by the portfolios.

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

This section shows the fund's 50 largest portfolio holdings in unaffiliated issuers and any holdings exceeding 1% of the fund's total net assets as of the report date. The remaining securities held by the fund are grouped as "Other Securities" in each category. You can request a complete schedule of portfolio holdings as of the report date, free of charge, by calling at 1-800-344-1029. This complete schedule, filed on the fund's Form N-CSR, is also available on the SEC's website at http://www.sec.gov.

500 Index Trust

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS - 97.6%
Communication services - 10.9%
Alphabet, Inc., Class A (A)	62,420	$	152,416,532	2.0%
Alphabet, Inc., Class C (A)	59,205		148,386,676	1.9%
AT&T, Inc.	1,476,336		42,488,950	0.6%
Comcast Corp., Class A	946,901		53,992,295	0.7%
Facebook, Inc., Class A (A)	499,325		173,620,296	2.3%
Netflix, Inc. (A)	91,957		48,572,607	0.6%
The Walt Disney Company (A)	376,832		66,235,761	0.9%
Verizon Communications, Inc.	858,032		48,075,533	0.6%
OTHER SECURITIES			106,877,216	1.3%
			840,665,866
Consumer discretionary - 12.0%
Amazon.com, Inc. (A)	88,852		305,665,096	4.0%
McDonald's Corp.	155,101		35,826,780	0.5%
NIKE, Inc., Class B	263,591		40,722,174	0.5%
Tesla, Inc. (A)	159,392		108,338,742	1.4%
The Home Depot, Inc.	223,381		71,233,967	0.9%
OTHER SECURITIES			366,063,205	4.7%
			927,849,964
Consumer staples - 5.7%
Costco Wholesale Corp.	91,846		36,340,707	0.5%
PepsiCo, Inc.	286,324		42,424,627	0.6%
Philip Morris International, Inc.	321,906		31,904,104	0.4%
The Coca-Cola Company	805,444		43,582,575	0.6%
The Procter & Gamble Company	511,221		68,979,050	0.9%
Walmart, Inc.	287,090		40,485,432	0.5%
OTHER SECURITIES			178,786,021	2.2%
			442,502,516
Energy - 2.8%
Chevron Corp.	400,967		41,997,284	0.5%
Exxon Mobil Corp.	880,280		55,528,062	0.7%
OTHER SECURITIES			116,665,874	1.6%
			214,191,220
Financials - 11.0%
Bank of America Corp.	1,575,766		64,968,832	0.8%
Berkshire Hathaway, Inc., Class B (A)	395,716		109,977,391	1.4%
JPMorgan Chase & Co.	633,220		98,491,039	1.3%
Wells Fargo & Company	859,895		38,944,645	0.5%
OTHER SECURITIES			540,552,567	7.0%
			852,934,474
Health care - 12.7%
Abbott Laboratories	367,222		42,572,046	0.6%
AbbVie, Inc.	367,530		41,398,579	0.5%
Danaher Corp.	131,642		35,327,447	0.5%
Eli Lilly & Company	165,283		37,935,754	0.5%
Johnson & Johnson	545,691		89,897,135	1.2%
Medtronic PLC	280,237		34,785,819	0.5%
Merck & Company, Inc.	524,216		40,768,278	0.5%
Pfizer, Inc.	1,157,117		45,312,702	0.6%
Thermo Fisher Scientific, Inc.	81,729		41,229,829	0.5%
UnitedHealth Group, Inc.	196,238		78,581,545	1.0%
OTHER SECURITIES			491,857,404	6.3%
			979,666,538

500 Index Trust (continued)

		Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS (continued)
Industrials - 8.3%			$	644,428,067	8.3%
Information technology - 26.8%
Accenture PLC, Class A		131,905		38,884,275	0.5%
Adobe, Inc. (A)		99,421		58,224,914	0.8%
Apple, Inc.		3,260,758		446,593,414	5.8%
Broadcom, Inc.		84,730		40,402,653	0.5%
Cisco Systems, Inc.		875,489		46,400,917	0.6%
Intel Corp.		843,347		47,345,501	0.6%
Mastercard, Inc., Class A		181,953		66,429,221	0.9%
Microsoft Corp.		1,565,667		424,139,190	5.5%
NVIDIA Corp.		128,862		103,102,486	1.3%
PayPal Holdings, Inc. (A)		243,074		70,851,210	0.9%
QUALCOMM, Inc.		235,434		33,650,582	0.4%
salesforce.com, Inc. (A)		190,467		46,525,374	0.6%
Texas Instruments, Inc.		191,180		36,763,914	0.5%
Visa, Inc., Class A		351,979		82,299,730	1.1%
OTHER SECURITIES				527,361,988	6.8%
				2,068,975,369
Materials - 2.5%				196,524,004	2.5%
Real estate - 2.5%				192,931,003	2.5%
Utilities - 2.4%				184,321,858	2.4%
TOTAL COMMON STOCKS (Cost $2,797,694,221)			$	7,544,990,879
SHORT-TERM INVESTMENTS - 2.4%
U.S. Government - 0.6%
U.S. Cash Management Bill, 0.013%, 09/21/2021 *	$	48,000,000		47,994,752	0.6%
U.S. Government Agency - 1.7%
Federal Home Loan Bank Discount Note, 0.009%, 07/30/2021 *		20,000,000		19,999,517	0.3%
Federal Home Loan Bank Discount Note, 0.014%, 08/06/2021 *		48,000,000		47,998,080	0.6%
Federal Home Loan Bank Discount Note, 0.015%, 07/14/2021 *		12,500,000		12,499,865	0.2%
Federal Home Loan Bank Discount Note, 0.020%, 07/13/2021 *		7,000,000		6,999,930	0.1%
Federal Home Loan Bank Discount Note, 0.020%, 07/16/2021 *		8,000,000		7,999,900	0.1%
Federal Home Loan Bank Discount Note, 0.035%, 08/25/2021 *		10,000,000		9,999,389	0.1%
Federal Home Loan Bank Discount Note, 0.040%, 07/19/2021 *		14,000,000		13,999,790	0.2%
Federal Home Loan Bank Discount Note, 0.040%, 07/27/2021 *		10,000,000		9,999,783	0.1%
				129,496,254
Short-term funds - 0.0%
John Hancock Collateral Trust, 0.0324% (B)(C)		103,598		1,036,455	0.0%
Repurchase agreement - 0.1%				9,525,000	0.1%
TOTAL SHORT-TERM INVESTMENTS (Cost $188,058,311)			$	188,052,461
Total Investments (500 Index Trust) (Cost $2,985,752,532) - 100.0%			$	7,733,043,340	100.0%
Other assets and liabilities, net - (0.0)%				(549,759)	(0.0)%
TOTAL NET ASSETS - 100.0%			$	7,732,493,581	100.0%

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

500 Index Trust (continued)

Security Abbreviations and Legend
(A)	Non-income producing security.
(B)	The rate shown is the annualized seven-day yield as of 6-30-21.
(C)	Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending.

500 Index Trust (continued)

*	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.

DERIVATIVES

FUTURES

Open contracts	Number of contracts	Position	Expiration date	Notional basis^	Notional value^	Unrealized appreciation (depreciation)
S&P 500 Index E-Mini Futures	939	Long	Sep 2021	$198,554,359	$201,349,770	$2,795,411
						$2,795,411

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

See Notes to financial statements regarding investment transactions and other derivatives information.

American Asset Allocation Trust

	Shares or Principal Amount	Value		% of Net Assets
INVESTMENT COMPANIES - 100.0%
American Funds Insurance Series - 100.0%
American Asset Allocation Fund - Class 1	51,073,901	$	1,438,751,803	100.0%
TOTAL INVESTMENT COMPANIES (Cost $1,011,849,344)		$	1,438,751,803
Total Investments (American Asset Allocation Trust) (Cost $1,011,849,344) - 100.0%		$	1,438,751,803	100.0%
Other assets and liabilities, net - (0.0)%			(43,292)	(0.0)%
TOTAL NET ASSETS - 100.0%		$	1,438,708,511	100.0%

American Global Growth Trust

	Shares or Principal Amount	Value		% of Net Assets
INVESTMENT COMPANIES - 100.0%
American Funds Insurance Series - 100.0%
American Global Growth Fund - Class 1	5,796,611	$	253,080,024	100.0%
TOTAL INVESTMENT COMPANIES (Cost $164,531,438)		$	253,080,024
Total Investments (American Global Growth Trust) (Cost $164,531,438) - 100.0%		$	253,080,024	100.0%
Other assets and liabilities, net - (0.0)%			(23,734)	(0.0)%
TOTAL NET ASSETS - 100.0%		$	253,056,290	100.0%

American Global Growth Trust (continued)
American Growth Trust

	Shares or Principal Amount	Value		% of Net Assets
INVESTMENT COMPANIES - 100.0%
American Funds Insurance Series - 100.0%
American Growth Fund - Class 1	9,257,106	$	1,095,023,124	100.0%
TOTAL INVESTMENT COMPANIES (Cost $710,267,808)		$	1,095,023,124
Total Investments (American Growth Trust) (Cost $710,267,808) - 100.0%		$	1,095,023,124	100.0%
Other assets and liabilities, net - (0.0)%			(35,604)	(0.0)%
TOTAL NET ASSETS - 100.0%		$	1,094,987,520	100.0%

American Growth-Income Trust

	Shares or Principal Amount	Value		% of Net Assets
INVESTMENT COMPANIES - 100.0%
American Funds Insurance Series - 100.0%
American Growth-Income Fund - Class 1	17,333,123	$	1,082,280,216	100.0%
TOTAL INVESTMENT COMPANIES (Cost $806,832,320)		$	1,082,280,216
Total Investments (American Growth-Income Trust) (Cost $806,832,320) - 100.0%		$	1,082,280,216	100.0%
Other assets and liabilities, net - (0.0)%			(38,722)	(0.0)%
TOTAL NET ASSETS - 100.0%		$	1,082,241,494	100.0%

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

American Growth-Income Trust (continued)
American International Trust

	Shares or Principal Amount	Value		% of Net Assets
INVESTMENT COMPANIES - 100.0%
American Funds Insurance Series - 100.0%
American International Fund - Class 1	20,712,368	$	512,423,975	100.0%
TOTAL INVESTMENT COMPANIES (Cost $386,433,398)		$	512,423,975
Total Investments (American International Trust) (Cost $386,433,398) - 100.0%		$	512,423,975	100.0%
Other assets and liabilities, net - (0.0)%			(26,633)	(0.0)%
TOTAL NET ASSETS - 100.0%		$	512,397,342	100.0%

Blue Chip Growth Trust

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS - 99.6%
Communication services - 27.0%
Alphabet, Inc., Class A (A)	15,868	$	38,746,324	1.6%
Alphabet, Inc., Class C (A)	69,346		173,803,267	7.1%
Facebook, Inc., Class A (A)	533,183		185,393,061	7.5%
Match Group, Inc. (A)	155,093		25,008,746	1.0%
Netflix, Inc. (A)	78,634		41,535,265	1.7%
Pinterest, Inc., Class A (A)	265,528		20,963,436	0.9%
Sea, Ltd., ADR (A)	173,791		47,723,009	1.9%
Snap, Inc., Class A (A)	689,970		47,014,556	1.9%
Tencent Holdings, Ltd.	617,100		46,462,985	1.9%
OTHER SECURITIES			37,986,096	1.5%
			664,636,745
Consumer discretionary - 18.3%
Alibaba Group Holding, Ltd., ADR (A)	88,603		20,093,388	0.8%
Amazon.com, Inc. (A)	79,917		274,927,264	11.2%
Booking Holdings, Inc. (A)	7,817		17,104,300	0.7%
Carvana Company (A)	38,866		11,730,536	0.5%
Chipotle Mexican Grill, Inc. (A)	11,118		17,236,680	0.7%
Dollar General Corp.	82,170		17,780,766	0.7%
Lululemon Athletica, Inc. (A)	50,001		18,248,865	0.7%
NIKE, Inc., Class B	79,783		12,325,676	0.5%
Ross Stores, Inc.	151,489		18,784,636	0.8%
OTHER SECURITIES			41,269,377	1.7%
			449,501,488
Consumer staples - 0.0%			859,134	0.0%
Financials - 2.8%
S&P Global, Inc.	50,725		20,820,076	0.9%
The Goldman Sachs Group, Inc.	71,605		27,176,246	1.1%
OTHER SECURITIES			20,687,045	0.8%
			68,683,367
Health care - 10.6%
Anthem, Inc.	36,316		13,865,449	0.6%
Cigna Corp.	105,237		24,948,536	1.0%
Danaher Corp.	96,830		25,985,299	1.1%
HCA Healthcare, Inc.	83,995		17,365,126	0.7%
Intuitive Surgical, Inc. (A)	41,205		37,893,766	1.5%
Stryker Corp.	114,208		29,663,244	1.2%
Thermo Fisher Scientific, Inc.	24,396		12,307,050	0.5%
UnitedHealth Group, Inc.	117,600		47,091,744	1.9%
Zoetis, Inc.	70,782		13,190,934	0.5%
OTHER SECURITIES			38,671,424	1.6%
			260,982,572
Industrials - 2.0%			47,739,969	2.0%

Blue Chip Growth Trust (continued)

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS (continued)
Information technology - 38.4%
Advanced Micro Devices, Inc. (A)	194,925	$	18,309,305	0.7%
Apple, Inc.	817,130		111,914,125	4.6%
ASML Holding NV, NYRS	27,000		18,652,680	0.8%
DocuSign, Inc. (A)	49,297		13,781,962	0.6%
Fidelity National Information Services, Inc.	95,767		13,567,311	0.6%
Fiserv, Inc. (A)	181,877		19,440,833	0.8%
Fortinet, Inc. (A)	49,400		11,766,586	0.5%
Global Payments, Inc.	227,770		42,715,986	1.7%
Intuit, Inc.	139,867		68,558,607	2.8%
Marvell Technology, Inc.	258,829		15,097,496	0.6%
Mastercard, Inc., Class A	141,211		51,554,724	2.1%
Microsoft Corp.	538,255		145,813,280	5.9%
MongoDB, Inc. (A)	32,256		11,661,189	0.5%
NVIDIA Corp.	48,200		38,564,820	1.6%
PayPal Holdings, Inc. (A)	231,432		67,457,799	2.7%
salesforce.com, Inc. (A)	185,925		45,415,900	1.8%
ServiceNow, Inc. (A)	94,887		52,145,151	2.1%
Shopify, Inc., Class A (A)	10,265		14,996,960	0.6%
Synopsys, Inc. (A)	74,613		20,577,519	0.8%
Texas Instruments, Inc.	59,625		11,465,888	0.5%
Visa, Inc., Class A	335,971		78,556,739	3.2%
Zoom Video Communications, Inc., Class A (A)	54,720		21,178,282	0.9%
OTHER SECURITIES			50,961,979	2.0%
			944,155,121
Materials - 0.5%			12,275,615	0.5%
TOTAL COMMON STOCKS (Cost $1,284,531,572)		$	2,448,834,011
SHORT-TERM INVESTMENTS - 0.6%
Short-term funds - 0.6%
John Hancock Collateral Trust, 0.0324% (B)(C)	615,495		6,157,780	0.2%
OTHER SECURITIES			9,886,227	0.4%
			16,044,007
TOTAL SHORT-TERM INVESTMENTS (Cost $16,044,250)		$	16,044,007
Total Investments (Blue Chip Growth Trust) (Cost $1,300,575,822) - 100.2%		$	2,464,878,018	100.2%
Other assets and liabilities, net - (0.2)%			(6,128,459)	(0.2)%
TOTAL NET ASSETS - 100.0%		$	2,458,749,559	100.0%

Security Abbreviations and Legend
ADR	American Depositary Receipt
NYRS	New York Registry Shares
(A)	Non-income producing security.
(B)	The rate shown is the annualized seven-day yield as of 6-30-21.
(C)	Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending.

Capital Appreciation Trust

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS - 99.9%
Communication services - 17.6%
Alphabet, Inc., Class A (A)	8,998	$	21,971,226	2.9%
Alphabet, Inc., Class C (A)	8,565		21,466,631	2.8%

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Capital Appreciation Trust (continued)

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS (continued)
Communication services (continued)
Facebook, Inc., Class A (A)	87,670	$	30,483,736	4.0%
Match Group, Inc. (A)	95,372		15,378,735	2.0%
Netflix, Inc. (A)	33,906		17,909,488	2.3%
ROBLOX Corp., Class A (A)	53,099		4,777,848	0.6%
Snap, Inc., Class A (A)	206,711		14,085,288	1.9%
Spotify Technology SA (A)	30,935		8,525,377	1.1%
			134,598,329
Consumer discretionary - 26.0%
Airbnb, Inc., Class A (A)	47,427		7,262,971	0.9%
Amazon.com, Inc. (A)	15,818		54,416,452	7.1%
Carvana Company (A)	30,074		9,076,935	1.2%
Chipotle Mexican Grill, Inc. (A)	5,686		8,815,233	1.2%
Kering SA	13,935		12,210,086	1.6%
Lululemon Athletica, Inc. (A)	25,380		9,262,939	1.2%
LVMH Moet Hennessy Louis Vuitton SE	19,830		15,599,404	2.0%
MercadoLibre, Inc. (A)	3,613		5,628,295	0.7%
NIKE, Inc., Class B	85,141		13,153,433	1.7%
Target Corp.	47,669		11,523,504	1.5%
Tesla, Inc. (A)	55,079		37,437,196	4.9%
The TJX Companies, Inc.	133,997		9,034,078	1.2%
OTHER SECURITIES			5,774,650	0.8%
			199,195,176
Consumer staples - 3.0%
Costco Wholesale Corp.	22,165		8,770,026	1.1%
The Estee Lauder Companies, Inc., Class A	45,507		14,474,867	1.9%
			23,244,893
Financials - 1.3%
S&P Global, Inc.	14,776		6,064,809	0.8%
The Goldman Sachs Group, Inc.	10,740		4,076,152	0.5%
			10,140,961
Health care - 4.5%
Danaher Corp.	30,487		8,181,491	1.1%
DexCom, Inc. (A)	11,481		4,902,387	0.6%
Eli Lilly & Company	50,688		11,633,910	1.5%
UnitedHealth Group, Inc.	14,202		5,687,049	0.8%
OTHER SECURITIES			3,925,943	0.5%
			34,330,780
Industrials - 3.6%
Safran SA	44,579		6,186,804	0.8%
Uber Technologies, Inc. (A)	278,777		13,972,303	1.8%
Union Pacific Corp.	34,274		7,537,881	1.0%
			27,696,988
Information technology - 43.9%
Adobe, Inc. (A)	44,637		26,141,213	3.4%
Adyen NV (A)(B)	5,726		14,042,038	1.8%
Apple, Inc.	254,241		34,820,847	4.6%
Atlassian Corp. PLC, Class A (A)	26,171		6,722,283	0.9%
Crowdstrike Holdings, Inc., Class A (A)	50,640		12,726,338	1.7%
DocuSign, Inc. (A)	28,171		7,875,766	1.0%
Mastercard, Inc., Class A	37,285		13,612,381	1.8%
Microsoft Corp.	113,917		30,860,115	4.0%
NVIDIA Corp.	42,261		33,813,026	4.4%
PayPal Holdings, Inc. (A)	60,932		17,760,459	2.3%
RingCentral, Inc., Class A (A)	13,835		4,020,174	0.5%
salesforce.com, Inc. (A)	53,959		13,180,565	1.7%
Shopify, Inc., Class A (A)	24,545		35,859,754	4.7%
Snowflake, Inc., Class A (A)	18,273		4,418,411	0.6%

Capital Appreciation Trust (continued)

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS (continued)
Information technology (continued)
Square, Inc., Class A (A)	60,323	$	14,706,747	1.9%
Taiwan Semiconductor Manufacturing Company, Ltd., ADR	108,106		12,990,017	1.7%
The Trade Desk, Inc., Class A (A)	96,200		7,442,032	1.0%
Twilio, Inc., Class A (A)	44,675		17,609,098	2.3%
Visa, Inc., Class A	86,488		20,222,624	2.6%
Workday, Inc., Class A (A)	20,532		4,901,810	0.6%
OTHER SECURITIES			2,825,809	0.4%
			336,551,507
TOTAL COMMON STOCKS (Cost $488,565,219)		$	765,758,634
SHORT-TERM INVESTMENTS - 0.1%
Short-term funds - 0.1%			1,055,530	0.1%
TOTAL SHORT-TERM INVESTMENTS (Cost $1,055,530)		$	1,055,530
Total Investments (Capital Appreciation Trust) (Cost $489,620,749) - 100.0%		$	766,814,164	100.0%
Other assets and liabilities, net - 0.0%			95,491	0.0%
TOTAL NET ASSETS - 100.0%		$	766,909,655	100.0%

Security Abbreviations and Legend
ADR	American Depositary Receipt
(A)	Non-income producing security.
(B)	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.

Capital Appreciation Value Trust

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS - 71.1%
Communication services - 4.6%
Alphabet, Inc., Class A (A)(B)	1,082	$	2,642,017	0.5%
Alphabet, Inc., Class C (A)(B)	5,841		14,639,415	3.1%
Facebook, Inc., Class A (B)	13,891		4,830,040	1.0%
			22,111,472
Consumer discretionary - 9.7%
Amazon.com, Inc. (A)(B)	7,699		26,485,792	5.6%
Hilton Worldwide Holdings, Inc. (A)(B)	25,222		3,042,278	0.6%
Marriott International, Inc., Class A (A)(B)	21,643		2,954,702	0.6%
Yum! Brands, Inc.	110,242		12,681,137	2.7%
OTHER SECURITIES			1,216,457	0.2%
			46,380,366
Consumer staples - 1.5%
Keurig Dr. Pepper, Inc.	110,597		3,897,438	0.8%
OTHER SECURITIES			3,138,773	0.7%
			7,036,211
Financials - 9.3%
Arthur J. Gallagher & Company	21,648		3,032,452	0.6%
Bank of America Corp. (A)	133,050		5,485,652	1.2%
Intercontinental Exchange, Inc.	33,466		3,972,414	0.8%
Marsh & McLennan Companies, Inc. (A)	116,334		16,365,867	3.4%
The PNC Financial Services Group, Inc.	76,748		14,640,448	3.1%

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Capital Appreciation Value Trust (continued)

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS (continued)
Financials (continued)
OTHER SECURITIES		$	808,213	0.2%
			44,305,046
Health care - 14.2%
Becton, Dickinson and Company	19,082		4,640,552	1.0%
Danaher Corp. (A)	54,362		14,588,586	3.1%
Humana, Inc. (A)	29,495		13,058,026	2.8%
PerkinElmer, Inc.	43,566		6,727,026	1.4%
Thermo Fisher Scientific, Inc.	27,367		13,805,830	2.9%
UnitedHealth Group, Inc.	33,750		13,514,850	2.8%
OTHER SECURITIES			1,133,412	0.2%
			67,468,282
Industrials - 7.9%
General Electric Company	1,519,644		20,454,408	4.3%
Ingersoll Rand, Inc. (B)	71,054		3,468,146	0.7%
Roper Technologies, Inc.	7,148		3,360,990	0.7%
Teledyne Technologies, Inc. (B)	3,593		1,504,856	0.3%
Waste Connections, Inc.	52,361		6,253,474	1.3%
OTHER SECURITIES			2,658,264	0.6%
			37,700,138
Information technology - 15.9%
Cisco Systems, Inc.	29,700		1,574,100	0.3%
Fiserv, Inc. (A)(B)	73,760		7,884,206	1.7%
FleetCor Technologies, Inc. (B)	18,682		4,783,713	1.0%
Global Payments, Inc. (A)	32,163		6,031,849	1.3%
Microsoft Corp. (A)	112,442		30,460,529	6.4%
salesforce.com, Inc. (B)	29,242		7,142,943	1.5%
TE Connectivity, Ltd.	31,191		4,217,335	0.9%
Visa, Inc., Class A (A)	53,323		12,467,984	2.6%
OTHER SECURITIES			925,740	0.2%
			75,488,399
Real estate - 0.2%			693,720	0.2%
Utilities - 7.8%
Ameren Corp.	96,617		7,733,225	1.6%
American Electric Power Company, Inc.	127,874		10,816,862	2.3%
CMS Energy Corp.	31,376		1,853,694	0.4%
Exelon Corp.	138,638		6,143,050	1.3%
NiSource, Inc.	173,525		4,251,363	0.9%
Public Service Enterprise Group, Inc.	109,185		6,522,712	1.3%
OTHER SECURITIES			13,031	0.0%
			37,333,937
TOTAL COMMON STOCKS (Cost $257,289,758)		$	338,517,571
PREFERRED SECURITIES - 1.2%
Financials - 0.0%			25,370	0.0%
Utilities - 1.2%
American Electric Power Company, Inc., 6.125%	12,402		609,310	0.1%
CMS Energy Corp., 5.875%	41,200		1,125,172	0.2%
CMS Energy Corp., 5.875%	50,000		1,386,000	0.3%
NiSource, Inc., 7.750%	7,708		792,305	0.2%
NiSource, Inc. (6.500% to 3-15-24, then 5 Year CMT + 3.632%)	20,000		573,200	0.1%
OTHER SECURITIES			1,356,966	0.3%
			5,842,953
TOTAL PREFERRED SECURITIES (Cost $5,510,445)		$	5,868,323

Capital Appreciation Value Trust (continued)

		Shares or Principal Amount	Value		% of Net Assets
CORPORATE BONDS - 7.7%
Communication services - 2.9%
CCO Holdings LLC 4.000%, 03/01/2023 (C)	$	416,000	$	419,640	0.1%
CCO Holdings LLC 5.000%, 02/01/2028 (C)		2,095,000		2,197,131	0.5%
CCO Holdings LLC 5.125%, 05/01/2027 (C)		1,341,000		1,406,575	0.3%
Netflix, Inc. 4.375%, 11/15/2026		1,260,000		1,432,897	0.3%
Netflix, Inc. 4.875%, 04/15/2028		1,790,000		2,080,875	0.5%
Netflix, Inc. 4.875%, 06/15/2030 (C)		40,000		47,572	0.0%
Netflix, Inc. 5.500%, 02/15/2022		45,000		46,125	0.0%
Netflix, Inc. 5.875%, 02/15/2025		405,000		468,010	0.1%
Netflix, Inc. 5.875%, 11/15/2028		2,405,000		2,951,969	0.6%
Netflix, Inc. 6.375%, 05/15/2029		1,165,000		1,487,996	0.3%
OTHER SECURITIES				1,204,891	0.2%
				13,743,681
Consumer discretionary - 2.0%
KFC Holding Company/Pizza Hut Holdings LLC/Taco Bell of America LLC 4.750%, 06/01/2027 (C)		1,657,000		1,733,636	0.4%
Marriott International, Inc. 3.125%, 06/15/2026		120,000		127,412	0.0%
Six Flags Entertainment Corp. 4.875%, 07/31/2024 (C)		1,195,000		1,206,950	0.3%
Six Flags Entertainment Corp. 5.500%, 04/15/2027 (C)		511,000		527,010	0.1%
Yum! Brands, Inc. 3.750%, 11/01/2021		975,000		976,219	0.2%
Yum! Brands, Inc. 3.875%, 11/01/2023		440,000		462,000	0.1%
Yum! Brands, Inc. 4.750%, 01/15/2030 (C)		2,000		2,165	0.0%
Yum! Brands, Inc. 5.350%, 11/01/2043		579,000		615,188	0.1%
Yum! Brands, Inc. 6.875%, 11/15/2037		367,000		455,080	0.1%
Yum! Brands, Inc. 7.750%, 04/01/2025 (C)		90,000		97,875	0.0%
OTHER SECURITIES				3,539,503	0.7%
				9,743,038
Financials - 1.0%
HUB International, Ltd. 7.000%, 05/01/2026 (C)		1,380,000		1,431,184	0.3%
State Street Corp. (3 month LIBOR + 3.597%) 3.716%, 09/15/2021 (D)(E)		145,000		145,116	0.0%
The PNC Financial Services Group, Inc. (5.000% to 11-1-26, then 3 month LIBOR + 3.300%) 11/01/2026 (D)		390,000		433,875	0.1%
USI, Inc. 6.875%, 05/01/2025 (C)		654,000		662,195	0.1%
OTHER SECURITIES				1,911,973	0.5%
				4,584,343
Health care - 0.2%				1,225,226	0.2%

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Capital Appreciation Value Trust (continued)

		Shares or Principal Amount	Value		% of Net Assets
CORPORATE BONDS (continued)
Industrials - 1.3%
General Electric Company (3 month LIBOR + 3.330%) 3.449%, 09/15/2021 (D)(E)	$	2,990,000	$	2,930,200	0.6%
OTHER SECURITIES				3,150,751	0.7%
				6,080,951
Information technology - 0.1%				324,286	0.1%
Real estate - 0.1%				541,109	0.1%
Utilities - 0.1%
NiSource, Inc. (5.650% to 6-15-23, then 5 Year CMT + 2.843%) 06/15/2023 (D)		575,000		613,094	0.1%
TOTAL CORPORATE BONDS (Cost $33,998,087)			$	36,855,728
TERM LOANS (F) - 8.5%
Communication services - 0.2%				1,018,777	0.2%
Consumer discretionary - 0.5%				2,344,220	0.5%
Consumer staples - 0.3%				1,316,378	0.3%
Financials - 2.9%
Alliant Holdings Intermediate LLC, 2020 Term Loan B3 (1 month LIBOR + 3.750%) 4.250%, 10/08/2027		666,374		666,927	0.1%
Alliant Holdings Intermediate LLC, 2018 Term Loan B (1 month LIBOR + 3.250%) 3.354%, 05/09/2025		807,488		798,315	0.2%
Alliant Holdings Intermediate LLC, Term Loan B (1 month LIBOR + 3.250%) 3.354%, 05/09/2025		233,105		230,425	0.0%
HUB International, Ltd., 2018 Term Loan B (3 month LIBOR + 2.750%) 2.926%, 04/25/2025		6,602,113		6,525,462	1.4%
HUB International, Ltd., 2021 Term Loan B (3 month LIBOR + 3.250%) 4.000%, 04/25/2025		2,623,733		2,621,896	0.5%
USI, Inc., 2017 Repriced Term Loan (3 month LIBOR + 3.000%) 3.147%, 05/16/2024		1,431,266		1,417,182	0.3%
USI, Inc., 2019 Incremental Term Loan B (3 month LIBOR + 3.250%) 3.397%, 12/02/2026		825,984		817,873	0.2%
OTHER SECURITIES				741,227	0.2%
				13,819,307
Health care - 1.3%
Heartland Dental LLC, 2018 1st Lien Term Loan (1 month LIBOR + 3.500%) 3.604%, 04/30/2025		1,621,298		1,601,032	0.3%
OTHER SECURITIES				4,341,889	1.0%
				5,942,921

Capital Appreciation Value Trust (continued)

		Shares or Principal Amount	Value		% of Net Assets
TERM LOANS (continued)
Industrials - 1.1%
Mileage Plus Holdings LLC, 2020 Term Loan B (3 month LIBOR + 5.250%) 6.250%, 06/21/2027	$	1,765,000	$	1,883,537	0.4%
OTHER SECURITIES				3,255,261	0.7%
				5,138,798
Information technology - 2.2%
CCC Information Services, Inc., 2017 1st Lien Term Loan (1 month LIBOR + 3.000%) 4.000%, 04/29/2024		3,546,383		3,544,433	0.8%
UKG, Inc., 2021 Incremental Term Loan (3 month LIBOR + 3.250%) 4.000%, 05/04/2026		2,586,286		2,587,786	0.5%
UKG, Inc., Term Loan B (1 month LIBOR + 3.750%) 3.854%, 05/04/2026		162,113		162,129	0.0%
OTHER SECURITIES				4,276,717	0.9%
				10,571,065
Materials - 0.0%				132,353	0.0%
TOTAL TERM LOANS (Cost $40,115,337)			$	40,283,819
ASSET BACKED SECURITIES - 0.3%				1,270,728	0.3%
TOTAL ASSET BACKED SECURITIES (Cost $1,188,422)			$	1,270,728
SHORT-TERM INVESTMENTS - 13.0%
Short-term funds - 12.3%
T. Rowe Price Government Reserve Fund, 0.0295% (G)		58,548,700		58,548,700	12.3%
Repurchase agreement - 0.7%
Repurchase Agreement with State Street Corp. dated 6-30-21 at 0.000% to be repurchased at $3,649,000 on 7-1-21, collateralized by $3,450,600 U.S. Treasury Notes, 2.375% due 5-15-27 (valued at $3,722,065)	$	3,649,000		3,649,000	0.7%
TOTAL SHORT-TERM INVESTMENTS (Cost $62,197,700)			$	62,197,700
Total Investments (Capital Appreciation Value Trust) (Cost $400,299,749) - 101.8%			$	484,993,869	101.8%
Other assets and liabilities, net - (1.8)%				(8,649,155)	(1.8)%
TOTAL NET ASSETS - 100.0%			$	476,344,714	100.0%

Security Abbreviations and Legend
CMT	Constant Maturity Treasury
LIBOR	London Interbank Offered Rate
(A)	All or a portion of this security is segregated at the custodian as collateral for certain derivatives.
(B)	Non-income producing security.
(C)	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.
(D)	Perpetual bonds have no stated maturity date. Date shown as maturity date is next call date.
(E)	Variable rate obligation. The coupon rate shown represents the rate at period end.

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Capital Appreciation Value Trust (continued)

(F)	Term loans are variable rate obligations. The coupon rate shown represents the rate at period end.
(G)	The rate shown is the annualized seven-day yield as of 6-30-21.

DERIVATIVES

WRITTEN OPTIONS

Options on securities
Counterparty (OTC)/ Exchange- traded	Name of issuer	Currency	Exercise price	Expiration date	Number of contracts	Notional amount	Premium	Value
Calls
GSI	Alphabet, Inc., Class A	USD	1,960.00	Sep 2022	1	100	$18,442	$(59,259)
GSI	Alphabet, Inc., Class A	USD	1,960.00	Sep 2022	1	100	24,090	(59,259)
GSI	Alphabet, Inc., Class A	USD	1,980.00	Sep 2022	1	100	17,800	(57,760)
GSI	Alphabet, Inc., Class A	USD	2,000.00	Sep 2022	1	100	17,130	(56,280)
GSI	Alphabet, Inc., Class A	USD	2,100.00	Sep 2022	1	100	14,073	(49,189)
SFG	Alphabet, Inc., Class A	USD	2,450.00	Sep 2022	1	100	26,747	(28,755)
GSI	Alphabet, Inc., Class C	USD	1,760.00	Jan 2022	5	500	50,362	(384,948)
GSI	Alphabet, Inc., Class C	USD	1,780.00	Jan 2022	5	500	47,406	(375,510)
GSI	Alphabet, Inc., Class C	USD	1,800.00	Jan 2022	4	400	35,760	(292,890)
GSI	Alphabet, Inc., Class C	USD	1,980.00	Jun 2022	1	100	21,210	(61,170)
GSI	Alphabet, Inc., Class C	USD	2,000.00	Jun 2022	1	100	20,353	(59,562)
GSI	Alphabet, Inc., Class C	USD	2,100.00	Jun 2022	1	100	16,634	(51,811)
SFG	Alphabet, Inc., Class C	USD	2,550.00	Jun 2022	1	100	22,096	(24,237)
CSFB	Amazon.com, Inc.	USD	3,800.00	Jan 2022	1	100	33,115	(14,303)
CSFB	Amazon.com, Inc.	USD	3,800.00	Jan 2022	1	100	34,542	(14,303)
CSFB	Amazon.com, Inc.	USD	3,900.00	Jan 2022	1	100	30,277	(11,627)
CSFB	Amazon.com, Inc.	USD	3,900.00	Jan 2022	1	100	38,338	(11,627)
RBC	Amazon.com, Inc.	USD	3,900.00	Jan 2022	1	100	23,997	(11,627)
CITI	Amazon.com, Inc.	USD	4,000.00	Jan 2022	1	100	27,327	(9,389)
CSFB	Amazon.com, Inc.	USD	4,000.00	Jan 2022	1	100	27,686	(9,389)
CSFB	Amazon.com, Inc.	USD	4,000.00	Jan 2022	1	100	35,706	(9,389)
RBC	Amazon.com, Inc.	USD	4,000.00	Jan 2022	1	100	21,797	(9,389)
CITI	Amazon.com, Inc.	USD	4,100.00	Jan 2022	1	100	25,167	(7,543)
RBC	Amazon.com, Inc.	USD	4,100.00	Jan 2022	1	100	19,697	(7,543)
CITI	Amazon.com, Inc.	USD	4,200.00	Jan 2022	1	100	23,127	(6,049)
RBC	Amazon.com, Inc.	USD	4,200.00	Jan 2022	1	100	17,827	(6,049)
CITI	Amazon.com, Inc.	USD	4,300.00	Jan 2022	2	200	42,614	(9,698)
JPM	American Electric Power Company, Inc.	USD	90.00	Jan 2022	63	6,300	22,934	(10,954)
JPM	American Electric Power Company, Inc.	USD	90.00	Jan 2022	11	1,100	3,946	(1,913)
JPM	American Electric Power Company, Inc.	USD	90.00	Jan 2022	7	700	2,418	(1,217)
JPM	American Electric Power Company, Inc.	USD	95.00	Jan 2022	63	6,300	13,893	(4,707)
JPM	American Electric Power Company, Inc.	USD	95.00	Jan 2022	22	2,200	4,975	(1,644)
JPM	American Electric Power Company, Inc.	USD	95.00	Jan 2022	14	1,400	2,930	(1,046)
JPM	American Electric Power Company, Inc.	USD	97.50	Jan 2022	30	3,000	2,930	(1,433)
JPM	American Electric Power Company, Inc.	USD	100.00	Jan 2022	30	3,000	1,813	(911)
CITI	American Tower Corp.	USD	210.00	Jan 2022	6	600	14,982	(37,334)
CITI	American Tower Corp.	USD	220.00	Jan 2022	6	600	11,982	(31,846)
CITI	American Tower Corp.	USD	230.00	Jan 2022	7	700	11,039	(31,042)
CITI	American Tower Corp.	USD	230.00	Jan 2022	2	200	4,641	(8,869)
CITI	American Tower Corp.	USD	240.00	Jan 2022	2	200	3,811	(7,238)
CITI	American Tower Corp.	USD	250.00	Jan 2022	2	200	3,041	(5,754)
CSFB	Bank of America Corp.	USD	30.00	Jan 2022	250	25,000	52,500	(288,400)
SFG	Bank of America Corp.	USD	30.00	Jan 2022	413	41,300	106,143	(476,434)
CSFB	Bank of America Corp.	USD	32.00	Jan 2022	129	12,900	31,631	(125,100)
CSFB	Bank of America Corp.	USD	35.00	Jan 2022	259	25,900	40,559	(184,966)
RBC	Bank of America Corp.	USD	37.00	Jan 2022	190	19,000	52,947	(106,972)
CSFB	Bank of America Corp.	USD	40.00	Jan 2022	39	3,900	13,323	(14,556)
CSFB	Bank of America Corp.	USD	45.00	Jan 2022	38	3,800	7,138	(6,179)
JPM	Cisco Systems, Inc.	USD	45.00	Jan 2022	48	4,800	22,416	(41,199)
JPM	Cisco Systems, Inc.	USD	45.00	Jan 2022	25	2,500	11,425	(21,458)
JPM	Cisco Systems, Inc.	USD	45.00	Jan 2022	26	2,600	11,102	(22,316)
JPM	Cisco Systems, Inc.	USD	47.50	Jan 2022	48	4,800	17,136	(31,648)
JPM	Cisco Systems, Inc.	USD	47.50	Jan 2022	25	2,500	8,675	(16,483)
JPM	Cisco Systems, Inc.	USD	47.50	Jan 2022	26	2,600	8,502	(17,143)
JPM	Cisco Systems, Inc.	USD	50.00	Jan 2022	48	4,800	12,816	(23,268)
JPM	Cisco Systems, Inc.	USD	50.00	Jan 2022	25	2,500	6,550	(12,119)
JPM	Cisco Systems, Inc.	USD	50.00	Jan 2022	26	2,600	6,292	(12,604)
JPM	CME Group, Inc.	USD	220.00	Jan 2022	19	1,900	20,869	(16,974)

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Capital Appreciation Value Trust (continued)

Options on securities (continued)
Counterparty (OTC)/ Exchange- traded	Name of issuer	Currency	Exercise price	Expiration date	Number of contracts	Notional amount	Premium	Value
Calls (continued)
JPM	CME Group, Inc.	USD	230.00	Jan 2022	19	1,900	$16,115	$(10,299)
CSFB	Danaher Corp.	USD	250.00	Jan 2022	40	4,000	76,280	(119,736)
CSFB	Danaher Corp.	USD	270.00	Jan 2022	4	400	6,485	(7,405)
CSFB	Danaher Corp.	USD	280.00	Jan 2022	4	400	5,280	(5,645)
CSFB	Danaher Corp.	USD	280.00	Jan 2022	6	600	7,557	(8,468)
CSFB	Danaher Corp.	USD	290.00	Jan 2022	6	600	5,707	(6,321)
GSI	Envista Holdings Corp.	USD	49.00	Dec 2021	30	3,000	10,034	(5,310)
GSI	Envista Holdings Corp.	USD	50.00	Dec 2021	30	3,000	8,906	(4,568)
CITI	Exelon Corp.	USD	40.00	Jan 2022	16	1,600	7,712	(8,361)
CITI	Exelon Corp.	USD	40.00	Jan 2022	5	500	2,092	(2,613)
CITI	Exelon Corp.	USD	43.00	Jan 2022	16	1,600	5,312	(5,132)
CITI	Exelon Corp.	USD	43.00	Jan 2022	5	500	1,420	(1,604)
CITI	Exelon Corp.	USD	45.00	Jan 2022	16	1,600	3,984	(3,456)
CITI	Exelon Corp.	USD	45.00	Jan 2022	5	500	1,040	(1,080)
CITI	Exelon Corp.	USD	47.00	Jan 2022	95	9,500	16,161	(13,061)
CITI	Exelon Corp.	USD	47.00	Jan 2022	30	3,000	4,823	(4,124)
CITI	Exelon Corp.	USD	50.00	Jan 2022	30	3,000	2,341	(1,903)
JPM	Facebook, Inc., Class A	USD	340.00	Jan 2022	12	1,200	30,925	(43,614)
JPM	Facebook, Inc., Class A	USD	345.00	Jan 2022	12	1,200	28,983	(40,503)
JPM	Facebook, Inc., Class A	USD	380.00	Jan 2022	4	400	7,756	(7,690)
JPM	Facebook, Inc., Class A	USD	400.00	Jan 2022	50	5,000	107,635	(68,007)
JPM	Facebook, Inc., Class A	USD	345.00	Sep 2022	6	600	23,363	(31,530)
JPM	Facebook, Inc., Class A	USD	360.00	Sep 2022	6	600	20,104	(27,460)
GSI	Fiserv, Inc.	USD	130.00	Jan 2022	13	1,300	6,634	(1,918)
GSI	Fiserv, Inc.	USD	135.00	Jan 2022	13	1,300	4,869	(1,384)
JPM	FleetCor Technologies, Inc.	USD	300.00	Jan 2022	5	500	9,985	(2,254)
JPM	FleetCor Technologies, Inc.	USD	310.00	Jan 2022	3	300	4,791	(897)
JPM	General Electric Company	USD	12.00	Jan 2022	160	16,000	24,437	(35,252)
JPM	General Electric Company	USD	12.00	Jan 2022	159	15,900	25,825	(35,032)
JPM	General Electric Company	USD	15.00	Jan 2022	160	16,000	13,309	(13,323)
JPM	General Electric Company	USD	15.00	Jan 2022	159	15,900	13,361	(13,239)
SFG	General Electric Company	USD	15.00	Jan 2022	636	63,600	69,324	(52,957)
GSI	Global Payments, Inc.	USD	230.00	Jan 2022	9	900	5,500	(2,752)
GSI	Global Payments, Inc.	USD	240.00	Jan 2022	9	900	4,445	(2,031)
CITI	Hilton Worldwide Holdings, Inc.	USD	125.00	Jan 2022	8	800	8,222	(6,790)
CITI	Hilton Worldwide Holdings, Inc.	USD	125.00	Jan 2022	4	400	3,927	(3,395)
CITI	Hilton Worldwide Holdings, Inc.	USD	125.00	Jan 2022	5	500	5,015	(4,244)
CITI	Hilton Worldwide Holdings, Inc.	USD	130.00	Jan 2022	8	800	6,917	(5,325)
CITI	Hilton Worldwide Holdings, Inc.	USD	130.00	Jan 2022	4	400	3,288	(2,663)
CITI	Hilton Worldwide Holdings, Inc.	USD	130.00	Jan 2022	5	500	4,196	(3,328)
CITI	Hilton Worldwide Holdings, Inc.	USD	130.00	Jan 2022	12	1,200	17,773	(7,988)
CITI	Hilton Worldwide Holdings, Inc.	USD	135.00	Jan 2022	12	1,200	15,717	(6,188)
GSI	Hilton Worldwide Holdings, Inc.	USD	135.00	Jan 2022	38	3,800	53,311	(19,595)
GSI	Hilton Worldwide Holdings, Inc.	USD	140.00	Jan 2022	38	3,800	45,916	(15,006)
CSFB	Humana, Inc.	USD	480.00	Jan 2022	2	200	6,018	(3,346)
CSFB	Humana, Inc.	USD	500.00	Jan 2022	2	200	4,724	(2,277)
JPM	Intercontinental Exchange, Inc.	USD	125.00	Jan 2022	15	1,500	4,761	(6,196)
JPM	Intercontinental Exchange, Inc.	USD	130.00	Jan 2022	16	1,600	9,747	(4,087)
JPM	Intercontinental Exchange, Inc.	USD	130.00	Jan 2022	16	1,600	3,208	(4,087)
JPM	Intercontinental Exchange, Inc.	USD	135.00	Jan 2022	16	1,600	7,294	(2,369)
SFG	Keurig Dr. Pepper, Inc.	USD	32.00	Dec 2021	95	9,500	20,710	(38,408)
JPM	Lockheed Martin Corp.	USD	340.00	Jan 2022	9	900	28,233	(40,683)
JPM	Lockheed Martin Corp.	USD	360.00	Jan 2022	9	900	20,583	(27,620)
JPM	Lockheed Martin Corp.	USD	375.00	Jan 2022	9	900	15,993	(19,651)
CSFB	Marriott International, Inc., Class A	USD	145.00	Jan 2022	15	1,500	18,440	(13,056)
CSFB	Marriott International, Inc., Class A	USD	145.00	Jan 2022	2	200	2,376	(1,741)
CSFB	Marriott International, Inc., Class A	USD	145.00	Jan 2022	8	800	10,193	(6,963)
CSFB	Marriott International, Inc., Class A	USD	150.00	Jan 2022	15	1,500	16,180	(10,515)
CSFB	Marriott International, Inc., Class A	USD	150.00	Jan 2022	2	200	2,097	(1,402)
CSFB	Marriott International, Inc., Class A	USD	150.00	Jan 2022	8	800	8,956	(5,608)
CSFB	Marriott International, Inc., Class A	USD	155.00	Jan 2022	13	1,300	14,757	(7,278)
CSFB	Marriott International, Inc., Class A	USD	160.00	Jan 2022	13	1,300	12,430	(5,770)
CSFB	Marriott International, Inc., Class A	USD	165.00	Jan 2022	9	900	15,242	(3,147)
CSFB	Marriott International, Inc., Class A	USD	170.00	Jan 2022	9	900	13,778	(2,467)

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Capital Appreciation Value Trust (continued)

Options on securities (continued)
Counterparty (OTC)/ Exchange- traded	Name of issuer	Currency	Exercise price	Expiration date	Number of contracts	Notional amount	Premium	Value
Calls (continued)
GSI	Marsh & McLennan Companies, Inc.	USD	150.00	Oct 2021	25	2,500	$4,440	$(5,075)
GSI	Marsh & McLennan Companies, Inc.	USD	155.00	Oct 2021	25	2,500	2,408	(2,905)
CITI	McDonald's Corp.	USD	210.00	Jan 2022	8	800	15,192	(20,097)
RBC	McDonald's Corp.	USD	210.00	Jan 2022	6	600	10,902	(15,072)
CITI	McDonald's Corp.	USD	220.00	Jan 2022	8	800	11,416	(14,169)
RBC	McDonald's Corp.	USD	220.00	Jan 2022	7	700	9,709	(12,397)
CITI	McDonald's Corp.	USD	230.00	Jan 2022	8	800	8,456	(9,291)
RBC	McDonald's Corp.	USD	230.00	Jan 2022	6	600	6,132	(6,968)
CSFB	Medtronic PLC	USD	115.00	Jan 2022	13	1,300	15,756	(17,147)
CSFB	Medtronic PLC	USD	125.00	Jan 2022	13	1,300	9,711	(9,276)
CSFB	Medtronic PLC	USD	130.00	Jan 2022	12	1,200	6,684	(5,889)
SFG	Microsoft Corp.	USD	250.00	Jan 2022	21	2,100	27,447	(64,377)
SFG	Microsoft Corp.	USD	255.00	Jan 2022	21	2,100	24,717	(57,217)
SFG	Microsoft Corp.	USD	260.00	Jan 2022	21	2,100	22,197	(50,524)
SFG	Microsoft Corp.	USD	265.00	Jan 2022	16	1,600	23,712	(33,772)
BOA	Microsoft Corp.	USD	270.00	Jan 2022	9	900	12,085	(16,558)
SFG	Microsoft Corp.	USD	270.00	Jan 2022	17	1,700	22,559	(31,277)
BOA	Microsoft Corp.	USD	275.00	Jan 2022	9	900	10,565	(14,335)
SFG	Microsoft Corp.	USD	275.00	Jan 2022	16	1,600	19,472	(25,485)
BOA	Microsoft Corp.	USD	280.00	Jan 2022	9	900	9,182	(12,321)
CITI	Microsoft Corp.	USD	280.00	Jan 2022	65	6,500	133,380	(88,986)
SFG	Microsoft Corp.	USD	300.00	Jan 2023	31	3,100	56,637	(65,409)
SFG	Microsoft Corp.	USD	300.00	Jan 2023	32	3,200	60,224	(67,519)
CITI	Mondelez International, Inc., Class A	USD	57.50	Jan 2022	26	2,600	12,272	(16,196)
CITI	Mondelez International, Inc., Class A	USD	60.00	Jan 2022	26	2,600	9,152	(11,513)
CITI	Mondelez International, Inc., Class A	USD	62.50	Jan 2022	26	2,600	5,122	(7,659)
CSFB	Northrop Grumman Corp.	USD	300.00	Jan 2022	5	500	13,835	(33,696)
CSFB	Northrop Grumman Corp.	USD	300.00	Jan 2022	5	500	13,485	(33,696)
CSFB	Northrop Grumman Corp.	USD	315.00	Jan 2022	5	500	10,285	(27,246)
CSFB	Northrop Grumman Corp.	USD	315.00	Jan 2022	5	500	10,835	(27,246)
CSFB	Northrop Grumman Corp.	USD	325.00	Jan 2022	5	500	8,785	(23,244)
CSFB	Northrop Grumman Corp.	USD	325.00	Jan 2022	5	500	9,085	(23,244)
JPM	NXP Semiconductors NV	USD	195.00	Jan 2022	8	800	14,105	(20,110)
JPM	NXP Semiconductors NV	USD	195.00	Jan 2022	7	700	13,563	(17,596)
JPM	NXP Semiconductors NV	USD	200.00	Jan 2022	8	800	13,168	(17,858)
JPM	NXP Semiconductors NV	USD	200.00	Jan 2022	7	700	12,245	(15,626)
JPM	NXP Semiconductors NV	USD	210.00	Jan 2022	8	800	11,205	(13,864)
JPM	NXP Semiconductors NV	USD	210.00	Jan 2022	7	700	10,451	(12,131)
SFG	PepsiCo, Inc.	USD	140.00	Jan 2022	13	1,300	14,781	(15,327)
SFG	PepsiCo, Inc.	USD	140.00	Jan 2022	14	1,400	15,218	(16,506)
SFG	PepsiCo, Inc.	USD	145.00	Jan 2022	13	1,300	11,856	(11,053)
SFG	PepsiCo, Inc.	USD	145.00	Jan 2022	14	1,400	11,998	(11,904)
SFG	PepsiCo, Inc.	USD	155.00	Jan 2022	12	1,200	6,504	(4,525)
SFG	PepsiCo, Inc.	USD	155.00	Jan 2022	14	1,400	7,028	(5,280)
JPM	Roper Technologies, Inc.	USD	480.00	Aug 2021	13	1,300	15,990	(14,025)
JPM	Roper Technologies, Inc.	USD	490.00	Nov 2021	3	300	3,190	(4,996)
JPM	Roper Technologies, Inc.	USD	500.00	Nov 2021	3	300	1,824	(3,913)
CSFB	Ross Stores, Inc.	USD	130.00	Jan 2022	6	600	6,143	(4,394)
BOA	Ross Stores, Inc.	USD	135.00	Jan 2022	3	300	3,132	(1,662)
CSFB	Ross Stores, Inc.	USD	135.00	Jan 2022	6	600	5,599	(3,325)
BOA	Ross Stores, Inc.	USD	140.00	Jan 2022	3	300	2,596	(1,238)
JPM	Teledyne Technologies, Inc.	USD	410.00	Sep 2021	1	100	2,194	(2,450)
JPM	Teledyne Technologies, Inc.	USD	410.00	Sep 2021	2	200	4,661	(4,901)
JPM	Teledyne Technologies, Inc.	USD	420.00	Sep 2021	1	100	1,885	(1,896)
JPM	Teledyne Technologies, Inc.	USD	420.00	Sep 2021	2	200	3,945	(3,793)
JPM	Teledyne Technologies, Inc.	USD	470.00	Dec 2021	3	300	6,092	(3,365)
JPM	Teledyne Technologies, Inc.	USD	480.00	Dec 2021	3	300	5,137	(2,688)
CSFB	The Coca-Cola Company	USD	50.00	Jan 2022	38	3,800	15,630	(19,511)
CSFB	The Coca-Cola Company	USD	50.00	Jan 2022	52	5,200	16,224	(26,699)
CSFB	The Coca-Cola Company	USD	52.50	Jan 2022	38	3,800	11,420	(12,941)
CSFB	The Coca-Cola Company	USD	52.50	Jan 2022	52	5,200	11,544	(17,709)
CSFB	The Coca-Cola Company	USD	55.00	Jan 2022	39	3,900	8,341	(8,216)
CSFB	The Coca-Cola Company	USD	55.00	Jan 2022	52	5,200	8,164	(10,954)
CITI	The PNC Financial Services Group, Inc.	USD	175.00	Jan 2022	12	1,200	14,316	(26,832)

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Capital Appreciation Value Trust (continued)

Options on securities (continued)
Counterparty (OTC)/ Exchange- traded	Name of issuer	Currency	Exercise price	Expiration date	Number of contracts	Notional amount	Premium	Value
Calls (continued)
CITI	The PNC Financial Services Group, Inc.	USD	180.00	Jan 2022	12	1,200	$12,237	$(22,852)
CITI	The PNC Financial Services Group, Inc.	USD	180.00	Jan 2022	13	1,300	17,112	(24,756)
CITI	The PNC Financial Services Group, Inc.	USD	185.00	Jan 2022	12	1,200	10,459	(19,209)
CITI	The PNC Financial Services Group, Inc.	USD	185.00	Jan 2022	13	1,300	14,782	(20,810)
CITI	The PNC Financial Services Group, Inc.	USD	190.00	Jan 2022	13	1,300	12,714	(17,267)
CITI	The PNC Financial Services Group, Inc.	USD	195.00	Jan 2022	19	1,900	17,331	(20,668)
CITI	The PNC Financial Services Group, Inc.	USD	195.00	Jan 2022	18	1,800	16,358	(19,580)
CITI	The PNC Financial Services Group, Inc.	USD	200.00	Jan 2022	19	1,900	14,489	(16,709)
CITI	The PNC Financial Services Group, Inc.	USD	200.00	Jan 2022	18	1,800	12,214	(15,829)
CITI	Thermo Fisher Scientific, Inc.	USD	580.00	Jan 2022	3	300	8,122	(3,316)
CITI	Thermo Fisher Scientific, Inc.	USD	580.00	Jan 2022	5	500	14,180	(5,527)
CITI	Thermo Fisher Scientific, Inc.	USD	600.00	Jan 2022	3	300	6,712	(2,382)
CITI	Thermo Fisher Scientific, Inc.	USD	600.00	Jan 2022	5	500	11,735	(3,970)
CITI	Union Electric Company	USD	90.00	Dec 2021	21	2,100	3,760	(1,551)
CITI	Union Electric Company	USD	95.00	Dec 2021	21	2,100	1,642	(442)
CITI	UnitedHealth Group, Inc.	USD	400.00	Jan 2022	6	600	14,447	(15,816)
CITI	UnitedHealth Group, Inc.	USD	410.00	Jan 2022	6	600	11,921	(12,870)
CITI	UnitedHealth Group, Inc.	USD	420.00	Jan 2022	6	600	10,918	(10,300)
CITI	UnitedHealth Group, Inc.	USD	460.00	Jan 2022	3	300	4,789	(1,773)
CITI	UnitedHealth Group, Inc.	USD	470.00	Jan 2022	3	300	3,917	(1,304)
JPM	Visa, Inc., Class A	USD	220.00	Jan 2022	19	1,900	26,638	(43,966)
CSFB	Visa, Inc., Class A	USD	225.00	Jan 2022	22	2,200	29,373	(43,843)
GSI	Visa, Inc., Class A	USD	225.00	Jan 2022	7	700	8,344	(13,950)
GSI	Visa, Inc., Class A	USD	225.00	Jan 2022	6	600	8,082	(11,957)
GSI	Visa, Inc., Class A	USD	225.00	Jan 2022	14	1,400	18,239	(27,900)
JPM	Visa, Inc., Class A	USD	225.00	Jan 2022	18	1,800	22,176	(35,871)
CSFB	Visa, Inc., Class A	USD	230.00	Jan 2022	22	2,200	25,978	(37,355)
GSI	Visa, Inc., Class A	USD	230.00	Jan 2022	7	700	7,154	(11,886)
GSI	Visa, Inc., Class A	USD	230.00	Jan 2022	6	600	7,032	(10,188)
GSI	Visa, Inc., Class A	USD	230.00	Jan 2022	14	1,400	16,317	(23,771)
JPM	Visa, Inc., Class A	USD	230.00	Jan 2022	19	1,900	20,463	(32,261)
CSFB	Visa, Inc., Class A	USD	235.00	Jan 2022	22	2,200	22,406	(31,469)
CSFB	Visa, Inc., Class A	USD	240.00	Jan 2022	12	1,200	15,050	(14,293)
CSFB	Visa, Inc., Class A	USD	245.00	Jan 2022	12	1,200	13,240	(11,761)
CSFB	Visa, Inc., Class A	USD	245.00	Jan 2022	17	1,700	17,798	(16,662)
CITI	Visa, Inc., Class A	USD	250.00	Jan 2022	43	4,300	36,712	(34,260)
CSFB	Visa, Inc., Class A	USD	250.00	Jan 2022	17	1,700	14,730	(13,545)
GSI	Visa, Inc., Class A	USD	250.00	Jan 2022	13	1,300	15,886	(10,358)
CSFB	Visa, Inc., Class A	USD	255.00	Jan 2022	6	600	5,060	(3,839)
CSFB	Visa, Inc., Class A	USD	255.00	Jan 2022	17	1,700	12,085	(10,878)
CSFB	Visa, Inc., Class A	USD	260.00	Jan 2022	6	600	4,257	(3,046)
GSI	Visa, Inc., Class A	USD	260.00	Jan 2022	13	1,300	12,181	(6,600)
CSFB	Visa, Inc., Class A	USD	265.00	Jan 2022	6	600	3,574	(2,388)
GSI	Visa, Inc., Class A	USD	270.00	Jan 2022	13	1,300	9,256	(4,010)
CSFB	Waste Management, Inc.	USD	115.00	Jan 2022	6	600	4,812	(15,946)
CSFB	Waste Management, Inc.	USD	115.00	Jan 2022	7	700	5,649	(18,604)
CSFB	Waste Management, Inc.	USD	120.00	Jan 2022	6	600	4,482	(13,274)
CSFB	Waste Management, Inc.	USD	120.00	Jan 2022	7	700	5,089	(15,486)
CSFB	Waste Management, Inc.	USD	130.00	Jan 2022	6	600	2,502	(8,445)
CSFB	Waste Management, Inc.	USD	130.00	Jan 2022	7	700	2,639	(9,852)
JPM	Yum! Brands, Inc.	USD	105.00	Jan 2022	7	700	7,854	(8,902)
JPM	Yum! Brands, Inc.	USD	110.00	Jan 2022	7	700	6,209	(6,479)
JPM	Yum! Brands, Inc.	USD	120.00	Jan 2022	22	2,200	9,424	(9,107)
JPM	Yum! Brands, Inc.	USD	120.00	Jan 2022	6	600	2,742	(2,484)
JPM	Yum! Brands, Inc.	USD	120.00	Jan 2022	14	1,400	6,398	(5,795)
JPM	Yum! Brands, Inc.	USD	120.00	Jan 2022	19	1,900	9,063	(7,865)
JPM	Yum! Brands, Inc.	USD	125.00	Jan 2022	25	2,500	8,050	(6,316)
							$3,823,947	$(6,141,041)

Derivatives Currency Abbreviations
USD	U.S. Dollar

Derivatives Abbreviations
BOA	Bank of America, N.A.

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Capital Appreciation Value Trust (continued)

CITI	Citibank, N.A.
CSFB	Credit Suisse First Boston International
GSI	Goldman Sachs International
JPM	JPMorgan Chase Bank, N.A.
OTC	Over-the-counter
RBC	Royal Bank of Canada
SFG	Susquehanna Financial Group, LLLP

See Notes to financial statements regarding investment transactions and other derivatives information.

Disciplined Value International Trust

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS - 96.1%
Australia - 0.9%		$	2,802,836	0.9%
Austria - 0.9%			2,889,656	0.9%
Bermuda - 1.5%
Everest Re Group, Ltd.	19,423		4,894,790	1.5%
Canada - 3.0%
Cenovus Energy, Inc.	521,991		4,994,202	1.6%
OTHER SECURITIES			4,783,513	1.4%
			9,777,715
China - 1.5%			4,765,104	1.5%
Finland - 2.6%
Metso Outotec OYJ	261,262		3,035,721	0.9%
Sampo OYJ, A Shares	68,608		3,154,901	1.0%
OTHER SECURITIES			2,293,654	0.7%
			8,484,276
France - 13.9%
Airbus SE (A)	28,648		3,691,368	1.2%
BNP Paribas SA	72,814		4,569,770	1.4%
Cie de Saint-Gobain	51,801		3,418,643	1.1%
Eiffage SA	48,677		4,958,066	1.5%
Rexel SA (A)	156,178		3,270,072	1.0%
Sanofi	81,428		8,555,018	2.7%
TotalEnergies SE	144,938		6,565,937	2.0%
OTHER SECURITIES			9,828,251	3.0%
			44,857,125
Germany - 7.5%
Allianz SE	19,855		4,954,942	1.5%
Deutsche Post AG	52,351		3,565,342	1.1%
Deutsche Telekom AG	273,558		5,785,740	1.8%
Hannover Rueck SE	19,392		3,246,369	1.0%
Siemens AG	22,801		3,620,307	1.1%
OTHER SECURITIES			3,064,019	1.0%
			24,236,719
Greece - 0.6%			1,859,047	0.6%
Hong Kong - 1.4%
WH Group, Ltd. (B)	3,143,500		2,821,614	0.9%
OTHER SECURITIES			1,569,327	0.5%
			4,390,941
India - 0.4%			1,139,283	0.4%
Ireland - 1.0%
CRH PLC	62,465		3,158,930	1.0%
Isle of Man - 0.7%			2,220,006	0.7%
Italy - 0.8%			2,714,675	0.8%
Japan - 16.2%
Hitachi, Ltd.	74,800		4,286,577	1.3%
Honda Motor Company, Ltd.	177,900		5,721,841	1.8%
Komatsu, Ltd.	170,400		4,221,415	1.3%
Resona Holdings, Inc.	1,044,500		4,027,229	1.3%
Sony Group Corp.	39,500		3,830,207	1.2%

Disciplined Value International Trust (continued)

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS (continued)
Japan (continued)
Sumitomo Heavy Industries, Ltd.	119,800	$	3,312,715	1.0%
Sumitomo Mitsui Financial Group, Inc.	186,700		6,435,918	2.0%
Yamaha Motor Company, Ltd.	157,200		4,269,894	1.3%
OTHER SECURITIES			16,121,818	5.0%
			52,227,614
Macau - 0.5%			1,752,209	0.5%
Malta - 0.0%			0	0.0%
Netherlands - 4.7%
ING Groep NV	341,509		4,533,300	1.4%
Royal Dutch Shell PLC, A Shares	228,254		4,576,001	1.4%
Stellantis NV	312,958		6,154,863	1.9%
			15,264,164
Norway - 1.5%			4,808,205	1.5%
Singapore - 0.6%			2,062,971	0.6%
South Korea - 7.5%
Hana Financial Group, Inc.	108,791		4,458,408	1.4%
KB Financial Group, Inc.	83,139		4,126,192	1.3%
Samsung Electronics Company, Ltd.	80,925		5,793,110	1.8%
SK Telecom Company, Ltd.	20,191		5,737,929	1.8%
OTHER SECURITIES			4,049,159	1.2%
			24,164,798
Spain - 0.6%			1,867,295	0.6%
Sweden - 3.5%
Svenska Handelsbanken AB, A Shares	382,038		4,312,425	1.3%
Volvo AB, B Shares (C)	294,044		7,086,292	2.2%
			11,398,717
Switzerland - 11.6%
Adecco Group AG	52,959		3,603,425	1.1%
Glencore PLC (A)	1,527,430		6,555,859	2.0%
Novartis AG	75,248		6,864,618	2.1%
Roche Holding AG	24,350		9,176,011	2.9%
STMicroelectronics NV	117,636		4,278,011	1.3%
UBS Group AG	452,897		6,937,125	2.2%
			37,415,049
United Kingdom - 9.2%
Coca-Cola Europacific Partners PLC	87,954		5,217,431	1.6%
IMI PLC	185,666		4,418,775	1.4%
Tesco PLC	1,306,466		4,035,906	1.2%
Travis Perkins PLC (A)	179,820		4,207,299	1.3%
OTHER SECURITIES			11,862,529	3.7%
			29,741,940
United States - 3.5%
Applied Materials, Inc.	21,666		3,085,238	0.9%

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Disciplined Value International Trust (continued)

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS (continued)
United States (continued)
Envista Holdings Corp. (A)	109,968	$	4,751,717	1.5%
FMC Corp.	31,879		3,449,308	1.1%
			11,286,263
TOTAL COMMON STOCKS (Cost $269,528,013)		$	310,180,328
PREFERRED SECURITIES - 1.5%
Germany - 1.5%
Volkswagen AG	18,848		4,725,776	1.5%
TOTAL PREFERRED SECURITIES (Cost $3,970,939)		$	4,725,776
SHORT-TERM INVESTMENTS - 4.4%
Short-term funds - 4.4%
Fidelity Institutional Money Market Government Portfolio, Institutional Class, 0.0100% (D)	4,811,413		4,811,413	1.5%
John Hancock Collateral Trust, 0.0324% (D)(E)	953,970		9,544,085	2.9%
TOTAL SHORT-TERM INVESTMENTS (Cost $14,355,626)		$	14,355,498
Total Investments (Disciplined Value International Trust) (Cost $287,854,578) - 102.0%		$	329,261,602	102.0%
Other assets and liabilities, net - (2.0)%			(6,509,802)	(2.0)%
TOTAL NET ASSETS - 100.0%		$	322,751,800	100.0%

Security Abbreviations and Legend
(A)	Non-income producing security.
(B)	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.
(C)	All or a portion of this security is on loan as of 6-30-21.
(D)	The rate shown is the annualized seven-day yield as of 6-30-21.
(E)	Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending.

Emerging Markets Value Trust

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS - 96.5%
Australia - 0.0%		$	124,754	0.0%
Belgium - 0.0%			34,390	0.0%
Brazil - 3.6%
Banco Bradesco SA	59,872		263,139	0.1%
Petroleo Brasileiro SA	403,347		2,456,347	0.9%
Vale SA	247,149		5,627,412	2.1%
OTHER SECURITIES			1,188,718	0.5%
			9,535,616
Canada - 0.1%			130,103	0.1%
Chile - 0.4%			1,140,928	0.4%
China - 24.6%
Baidu, Inc., ADR (A)	14,801		3,017,924	1.1%
Bank of China, Ltd., H Shares	5,614,694		2,016,027	0.8%
China Construction Bank Corp., H Shares	6,962,000		5,463,107	2.1%
China Merchants Bank Company, Ltd., H Shares	350,500		2,985,627	1.1%

Emerging Markets Value Trust (continued)

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS (continued)
China (continued)
Country Garden Holdings Company, Ltd.	912,471	$	1,021,301	0.4%
Industrial & Commercial Bank of China, Ltd., H Shares	5,463,000		3,201,422	1.2%
Longfor Group Holdings, Ltd. (B)	201,500		1,122,387	0.4%
PetroChina Company, Ltd., ADR (C)	1,761		86,342	0.0%
PetroChina Company, Ltd., H Shares	2,098,000		1,027,411	0.4%
Ping An Insurance Group Company of China, Ltd., H Shares	261,000		2,551,379	1.0%
Sunac China Holdings, Ltd.	291,000		997,851	0.4%
Trip.com Group, Ltd., ADR (A)	35,226		1,249,114	0.5%
Yum China Holdings, Inc.	28,049		1,858,246	0.7%
ZTO Express Cayman, Inc., ADR	34,890		1,058,912	0.4%
OTHER SECURITIES			38,157,174	14.1%
			65,814,224
Colombia - 0.1%			247,216	0.1%
Czech Republic - 0.1%			355,671	0.1%
Greece - 0.3%			681,007	0.3%
Hong Kong - 5.7%
China Resources Land, Ltd.	366,000		1,478,202	0.6%
Geely Automobile Holdings, Ltd.	602,000		1,890,737	0.7%
OTHER SECURITIES			11,901,403	4.4%
			15,270,342
Hungary - 0.2%			428,722	0.2%
India - 12.1%
Axis Bank, Ltd. (A)	119,271		1,204,145	0.5%
ICICI Bank, Ltd.	220,375		1,877,782	0.7%
ICICI Bank, Ltd., ADR (A)	17,653		301,866	0.1%
Larsen & Toubro, Ltd.	49,161		993,529	0.4%
Reliance Industries, Ltd., GDR (B)	121,829		6,891,972	2.6%
Tata Motors, Ltd. (A)	220,218		1,011,227	0.4%
Wipro, Ltd.	158,426		1,163,640	0.4%
OTHER SECURITIES			19,011,563	7.0%
			32,455,724
Indonesia - 1.2%			3,221,580	1.2%
Malaysia - 1.5%			4,136,872	1.5%
Mexico - 2.3%
Grupo Financiero Banorte SAB de CV, Series O	163,262		1,051,285	0.4%
Grupo Mexico SAB de CV, Series B	242,225		1,141,741	0.4%
OTHER SECURITIES			3,902,271	1.5%
			6,095,297
Philippines - 0.8%			2,126,470	0.8%
Poland - 0.7%			1,885,612	0.7%
Qatar - 0.5%			1,272,818	0.5%
Russia - 1.4%
Gazprom PJSC, ADR (London Stock Exchange)	196,506		1,500,057	0.6%
LUKOIL PJSC, ADR	22,853		2,121,042	0.8%
OTHER SECURITIES			228,328	0.0%
			3,849,427

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Emerging Markets Value Trust (continued)

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS (continued)
Saudi Arabia - 2.0%
Saudi Basic Industries Corp.	47,599	$	1,547,436	0.6%
OTHER SECURITIES			3,907,274	1.4%
			5,454,710
South Africa - 3.9%
MTN Group, Ltd. (A)	193,966		1,401,325	0.5%
OTHER SECURITIES			9,161,724	3.4%
			10,563,049
South Korea - 14.7%
Hana Financial Group, Inc.	35,399		1,450,701	0.6%
Hyundai Mobis Company, Ltd.	4,537		1,176,586	0.5%
Hyundai Motor Company	9,379		1,995,674	0.8%
KB Financial Group, Inc.	5,839		289,790	0.1%
KB Financial Group, Inc., ADR	39,288		1,936,898	0.7%
Kia Corp.	18,836		1,501,095	0.6%
LG Electronics, Inc.	12,336		1,786,061	0.7%
POSCO	5,983		1,849,044	0.7%
Samsung Electronics Company, Ltd.	31,700		2,269,281	0.9%
Shinhan Financial Group Company, Ltd.	2,494		90,045	0.0%
Shinhan Financial Group Company, Ltd., ADR	44,055		1,579,372	0.6%
SK Hynix, Inc.	11,934		1,346,974	0.5%
OTHER SECURITIES			22,151,617	8.0%
			39,423,138
Taiwan - 17.2%
Cathay Financial Holding Company, Ltd. (A)	751,423		1,452,833	0.6%
China Steel Corp.	836,180		1,187,504	0.5%
CTBC Financial Holding Company, Ltd.	2,092,348		1,703,870	0.6%
Evergreen Marine Corp. Taiwan, Ltd. (A)	250,655		1,770,491	0.7%
Fubon Financial Holding Company, Ltd.	711,417		1,886,018	0.7%
Hon Hai Precision Industry Company, Ltd.	792,448		3,181,684	1.2%
Taiwan Cement Corp.	632,318		1,157,352	0.4%
United Microelectronics Corp.	1,098,794		2,083,646	0.8%
Yuanta Financial Holding Company, Ltd.	1,154,371		1,111,545	0.4%
OTHER SECURITIES			30,395,600	11.3%
			45,930,543
Thailand - 1.9%
PTT PCL	938,700		1,151,940	0.4%
OTHER SECURITIES			3,861,088	1.5%
			5,013,028

Emerging Markets Value Trust (continued)

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS (continued)
Turkey - 0.5%		$	1,395,510	0.5%
Ukraine - 0.0%			111,168	0.0%
United Arab Emirates - 0.6%			1,496,727	0.6%
United States - 0.1%			132,018	0.1%
TOTAL COMMON STOCKS (Cost $221,704,938)		$	258,326,664
PREFERRED SECURITIES - 1.8%
Brazil - 1.8%
Banco Bradesco SA	142,969		739,595	0.3%
Petroleo Brasileiro SA	510,144		3,018,525	1.2%
OTHER SECURITIES			893,019	0.3%
			4,651,139
Colombia - 0.0%			101,164	0.0%
Philippines - 0.0%			16,487	0.0%
TOTAL PREFERRED SECURITIES (Cost $4,446,829)		$	4,768,790
WARRANTS - 0.0%			986	0.0%
TOTAL WARRANTS (Cost $0)		$	986
SHORT-TERM INVESTMENTS - 1.0%
Short-term funds - 1.0%
John Hancock Collateral Trust, 0.0324% (D)(E)	254,590		2,547,070	1.0%
TOTAL SHORT-TERM INVESTMENTS (Cost $2,547,135)		$	2,547,070
Total Investments (Emerging Markets Value Trust) (Cost $228,698,902) - 99.3%		$	265,643,510	99.3%
Other assets and liabilities, net - 0.7%			1,948,379	0.7%
TOTAL NET ASSETS - 100.0%		$	267,591,889	100.0%

Security Abbreviations and Legend
ADR	American Depositary Receipt
GDR	Global Depositary Receipt
(A)	Non-income producing security.
(B)	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.
(C)	All or a portion of this security is on loan as of 6-30-21.
(D)	The rate shown is the annualized seven-day yield as of 6-30-21.
(E)	Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending.

DERIVATIVES

FUTURES

Open contracts	Number of contracts	Position	Expiration date	Notional basis^	Notional value^	Unrealized appreciation (depreciation)
Mini MSCI Emerging Markets Index Futures	30	Long	Sep 2021	$2,056,668	$2,047,200	$(9,468)
						$(9,468)

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

See Notes to financial statements regarding investment transactions and other derivatives information.

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Equity Income Trust

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS - 97.4%
Communication services - 5.0%
Comcast Corp., Class A	502,481	$	28,651,467	1.7%
News Corp., Class A	801,465		20,653,753	1.2%
The Walt Disney Company (A)	81,896		14,394,860	0.9%
OTHER SECURITIES			19,724,201	1.2%
			83,424,281
Consumer discretionary - 4.4%
Las Vegas Sands Corp. (A)	278,470		14,672,584	0.9%
Volkswagen AG, ADR	775,705		19,423,653	1.2%
OTHER SECURITIES			38,256,709	2.3%
			72,352,946
Consumer staples - 6.9%
Conagra Brands, Inc.	537,475		19,553,341	1.2%
Kimberly-Clark Corp.	149,778		20,037,301	1.2%
Philip Morris International, Inc.	213,526		21,162,562	1.3%
Tyson Foods, Inc., Class A	375,229		27,676,891	1.7%
OTHER SECURITIES			26,349,313	1.5%
			114,779,408
Energy - 6.2%
EOG Resources, Inc.	225,006		18,774,501	1.1%
Exxon Mobil Corp.	238,889		15,069,118	0.9%
TotalEnergies SE	630,852		28,578,724	1.7%
TotalEnergies SE, ADR	108,235		4,898,716	0.3%
OTHER SECURITIES			35,887,463	2.2%
			103,208,522
Financials - 22.7%
American International Group, Inc.	730,856		34,788,746	2.1%
Chubb, Ltd.	186,629		29,662,813	1.8%
Equitable Holdings, Inc.	607,788		18,507,145	1.1%
Fifth Third Bancorp	678,393		25,934,964	1.5%
JPMorgan Chase & Co.	95,738		14,891,089	0.9%
Loews Corp.	475,451		25,983,397	1.6%
MetLife, Inc.	573,815		34,342,828	2.1%
Morgan Stanley	272,143		24,952,792	1.5%
The Goldman Sachs Group, Inc.	36,883		13,998,205	0.8%
The PNC Financial Services Group, Inc.	77,176		14,722,094	0.9%
Wells Fargo & Company	1,389,893		62,948,256	3.8%
OTHER SECURITIES			76,289,112	4.6%
			377,021,441
Health care - 14.4%
AbbVie, Inc.	240,467		27,086,203	1.6%
Anthem, Inc.	85,730		32,731,714	2.0%
Becton, Dickinson and Company	101,092		24,584,563	1.5%
CVS Health Corp.	254,678		21,250,332	1.3%
Johnson & Johnson	122,761		20,223,647	1.2%
Medtronic PLC	205,258		25,478,676	1.5%
Pfizer, Inc.	376,479		14,742,918	0.9%
OTHER SECURITIES			72,939,495	4.4%
			239,037,548
Industrials - 11.9%
General Electric Company	3,590,595		48,329,409	2.9%
L3Harris Technologies, Inc.	119,161		25,756,650	1.6%
The Boeing Company (A)	78,858		18,891,222	1.1%
United Parcel Service, Inc., Class B	205,139		42,662,758	2.6%
OTHER SECURITIES			61,427,125	3.7%
			197,067,164
Information technology - 8.9%
Applied Materials, Inc.	151,740		21,607,776	1.3%

Equity Income Trust (continued)

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS (continued)
Information technology (continued)
Cisco Systems, Inc.	291,060	$	15,426,180	0.9%
Citrix Systems, Inc.	122,485		14,363,816	0.9%
Microsoft Corp.	87,553		23,718,108	1.4%
QUALCOMM, Inc.	291,103		41,607,352	2.5%
Texas Instruments, Inc.	95,691		18,401,379	1.1%
OTHER SECURITIES			12,146,306	0.8%
			147,270,917
Materials - 5.8%
CF Industries Holdings, Inc.	568,573		29,253,081	1.8%
International Flavors & Fragrances, Inc.	120,307		17,973,866	1.1%
International Paper Company	502,988		30,838,194	1.8%
OTHER SECURITIES			18,478,509	1.1%
			96,543,650
Real estate - 4.1%
Equity Residential	294,350		22,664,950	1.4%
Weyerhaeuser Company	741,396		25,518,850	1.5%
OTHER SECURITIES			19,908,135	1.2%
			68,091,935
Utilities - 7.1%
NextEra Energy, Inc.	123,398		9,042,605	0.5%
NiSource, Inc.	835,395		20,467,178	1.2%
Sempra Energy	184,037		24,381,222	1.5%
The Southern Company	635,241		38,438,433	2.3%
OTHER SECURITIES			25,969,908	1.6%
			118,299,346
TOTAL COMMON STOCKS (Cost $1,178,702,307)		$	1,617,097,158
PREFERRED SECURITIES - 1.5%
Health care - 0.4%
Becton, Dickinson and Company, 6.000% (B)	115,427		6,176,499	0.4%
Utilities - 1.1%
NextEra Energy, Inc., 5.279%	98,770		4,835,779	0.3%
NiSource, Inc., 7.750%	47,031		4,834,316	0.3%
Sempra Energy, 6.750%	24,765		2,446,039	0.1%
The Southern Company, 6.750%	134,102		6,789,584	0.4%
			18,905,718
TOTAL PREFERRED SECURITIES (Cost $24,559,464)		$	25,082,217
SHORT-TERM INVESTMENTS - 1.6%
Short-term funds - 1.6%
John Hancock Collateral Trust, 0.0324% (C)(D)	662,848		6,631,528	0.4%
T. Rowe Price Government Reserve Fund, 0.0295% (C)	17,191,975		17,191,975	1.0%
OTHER SECURITIES			3,000,066	0.2%
			26,823,569
TOTAL SHORT-TERM INVESTMENTS (Cost $26,823,781)		$	26,823,569
Total Investments (Equity Income Trust) (Cost $1,230,085,552) - 100.5%		$	1,669,002,944	100.5%
Other assets and liabilities, net - (0.5)%			(8,183,938)	(0.5)%
TOTAL NET ASSETS - 100.0%		$	1,660,819,006	100.0%

Security Abbreviations and Legend
ADR	American Depositary Receipt
(A)	Non-income producing security.
(B)	All or a portion of this security is on loan as of 6-30-21.

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Equity Income Trust (continued)

(C)	The rate shown is the annualized seven-day yield as of 6-30-21.
(D)	Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending.

Financial Industries Trust

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS - 98.4%
Financials - 89.5%
3i Group PLC	137,548	$	2,232,248	1.3%
American Express Company	31,480		5,201,440	3.1%
Ameris Bancorp	35,317		1,788,100	1.0%
Ares Management Corp., Class A	61,684		3,922,486	2.3%
Arthur J. Gallagher & Company	23,899		3,347,772	2.0%
Atlantic Union Bankshares Corp.	49,292		1,785,356	1.0%
Bank of America Corp.	125,976		5,193,990	3.0%
Berkshire Hathaway, Inc., Class B (A)	7,017		1,950,165	1.1%
BlackRock, Inc.	2,952		2,582,911	1.5%
Brookfield Asset Management, Inc., Class A	80,153		4,086,200	2.4%
Brown & Brown, Inc.	48,581		2,581,594	1.5%
CaixaBank SA	542,320		1,669,643	1.0%
Capital One Financial Corp.	28,670		4,434,962	2.6%
Chubb, Ltd.	14,830		2,357,080	1.4%
Citizens Financial Group, Inc.	111,360		5,108,084	3.0%
Close Brothers Group PLC	84,193		1,764,483	1.0%
Danske Bank A/S	92,918		1,636,371	1.0%
Discover Financial Services	27,206		3,218,198	1.9%
Equitable Holdings, Inc.	103,746		3,159,066	1.9%
Eurazeo SE	18,774		1,636,855	1.0%
First Horizon Corp.	144,107		2,490,169	1.5%
First Merchants Corp.	38,163		1,590,252	0.9%
Huntington Bancshares, Inc.	143,746		2,051,255	1.2%
JPMorgan Chase & Co.	30,804		4,791,254	2.8%
Kinsale Capital Group, Inc.	12,057		1,986,632	1.2%
KKR & Company, Inc.	69,358		4,108,768	2.4%
Live Oak Bancshares, Inc.	23,229		1,370,511	0.8%
Markel Corp. (A)	2,150		2,551,427	1.5%
Marsh & McLennan Companies, Inc.	16,700		2,349,356	1.4%
Nordea Bank ABP	130,570		1,454,015	0.9%
Onex Corp.	37,065		2,691,369	1.6%
Pinnacle Financial Partners, Inc.	49,972		4,412,028	2.6%
Stock Yards Bancorp, Inc.	35,133		1,787,918	1.0%
SVB Financial Group (A)	7,089		3,944,532	2.3%
Synovus Financial Corp.	71,151		3,122,106	1.8%
The Blackstone Group, Inc.	42,964		4,173,523	2.4%
The Hanover Insurance Group, Inc.	12,586		1,707,165	1.0%
The Hartford Financial Services Group, Inc.	68,382		4,237,633	2.5%
Tradeweb Markets, Inc., Class A	21,290		1,800,282	1.1%
Trean Insurance Group, Inc. (A)	87,457		1,318,852	0.8%
TriCo Bancshares	50,411		2,146,500	1.3%
U.S. Bancorp	67,156		3,825,877	2.2%
Unum Group	129,386		3,674,562	2.2%
Western Alliance Bancorp	48,282		4,482,984	2.6%
Zions Bancorp NA	54,790		2,896,199	1.7%
OTHER SECURITIES			22,020,229	12.8%
			152,642,402

Financial Industries Trust (continued)

		Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS (continued)
Information technology - 4.8%
FleetCor Technologies, Inc. (A)		9,109	$	2,332,451	1.4%
Visa, Inc., Class A		22,648		5,295,555	3.1%
OTHER SECURITIES				581,506	0.3%
				8,209,512
Real estate - 4.1%
Prologis, Inc.		19,566		2,338,724	1.4%
Rexford Industrial Realty, Inc.		29,152		1,660,206	1.0%
OTHER SECURITIES				2,935,528	1.7%
				6,934,458
TOTAL COMMON STOCKS (Cost $130,912,001)			$	167,786,372
SHORT-TERM INVESTMENTS - 1.6%
Repurchase agreement - 1.6%
Repurchase Agreement with State Street Corp. dated 6-30-21 at 0.000% to be repurchased at $2,751,000 on 7-1-21, collateralized by $2,804,300 U.S. Treasury Notes, 0.099% due 1-31-23 (valued at $2,806,097)	$	2,751,000		2,751,000	1.6%
TOTAL SHORT-TERM INVESTMENTS (Cost $2,751,000)			$	2,751,000
Total Investments (Financial Industries Trust) (Cost $133,663,001) - 100.0%			$	170,537,372	100.0%
Other assets and liabilities, net - 0.0%				1,076	0.0%
TOTAL NET ASSETS - 100.0%			$	170,538,448	100.0%

Security Abbreviations and Legend
(A)	Non-income producing security.

Fundamental All Cap Core Trust

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS - 98.6%
Communication services - 16.4%
Alphabet, Inc., Class A (A)	60,841	$	148,560,945	5.9%
CarGurus, Inc. (A)	1,460,541		38,309,990	1.5%
Facebook, Inc., Class A (A)	383,760		133,437,190	5.3%
Liberty Broadband Corp., Series A (A)	97,107		16,330,484	0.6%
Liberty Media Corp.-Liberty Formula One, Series C (A)	1,405,169		67,743,197	2.7%
OTHER SECURITIES			9,058,180	0.4%
			413,439,986
Consumer discretionary - 19.2%
Amazon.com, Inc. (A)	51,157		175,988,265	7.0%
Dufry AG (A)	485,666		28,818,588	1.1%
Group 1 Automotive, Inc.	277,994		42,930,613	1.7%
Lennar Corp., A Shares	1,151,295		114,381,158	4.5%
NVR, Inc. (A)	4,853		24,135,425	0.9%
Polaris, Inc.	552,844		75,717,514	3.0%
Salvatore Ferragamo SpA (A)	1,150,855		24,677,109	1.0%
			486,648,672
Consumer staples - 7.6%
Anheuser-Busch InBev SA/NV, ADR	372,801		26,845,400	1.1%
Diageo PLC, ADR	114,873		22,020,005	0.9%
Heineken NV	170,848		20,740,840	0.8%
Post Holdings, Inc. (A)	713,217		77,362,647	3.0%

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Fundamental All Cap Core Trust (continued)

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS (continued)
Consumer staples (continued)
The Hain Celestial Group, Inc. (A)	812,593	$	32,601,231	1.3%
U.S. Foods Holding Corp. (A)	356,896		13,690,531	0.5%
			193,260,654
Energy - 5.3%
Baker Hughes Company	979,557		22,402,469	0.9%
Cheniere Energy, Inc. (A)	773,930		67,130,688	2.7%
Valero Energy Corp.	427,962		33,415,273	1.3%
OTHER SECURITIES			11,048,995	0.4%
			133,997,425
Financials - 17.3%
American Express Company	238,809		39,458,411	1.6%
Bank of America Corp.	2,092,864		86,288,783	3.4%
First Hawaiian, Inc.	2,898,865		82,153,834	3.2%
KKR & Company, Inc.	767,089		45,442,352	1.8%
Morgan Stanley	1,174,196		107,662,031	4.2%
Synchrony Financial	402,103		19,510,038	0.8%
The Goldman Sachs Group, Inc.	152,605		57,918,176	2.3%
			438,433,625
Health care - 6.7%
Alnylam Pharmaceuticals, Inc. (A)	215,838		36,588,858	1.5%
Anthem, Inc.	68,547		26,171,245	1.0%
Change Healthcare, Inc. (A)	681,036		15,691,069	0.6%
Hologic, Inc. (A)	791,530		52,810,882	2.1%
Moderna, Inc. (A)	158,756		37,304,485	1.5%
			168,566,539
Industrials - 8.7%
IHS Markit, Ltd.	519,818		58,562,696	2.3%
Parker-Hannifin Corp.	112,984		34,698,516	1.4%
Regal Beloit Corp.	161,347		21,541,438	0.9%
Roper Technologies, Inc.	97,275		45,738,705	1.8%
Sensata Technologies Holding PLC (A)	313,430		18,169,537	0.7%
United Rentals, Inc. (A)	126,573		40,378,053	1.6%
			219,088,945
Information technology - 12.6%
Analog Devices, Inc.	149,698		25,772,008	1.0%
Apple, Inc.	648,680		88,843,213	3.5%
NVIDIA Corp.	85,702		68,570,170	2.7%
salesforce.com, Inc. (A)	214,047		52,285,261	2.1%
Samsung Electronics Company, Ltd.	410,202		29,364,773	1.2%
Workday, Inc., Class A (A)	220,319		52,598,958	2.1%
			317,434,383
Materials - 0.9%
Axalta Coating Systems, Ltd. (A)	783,540		23,890,135	0.9%
Real estate - 3.9%
American Tower Corp.	203,854		55,069,120	2.2%
Crown Castle International Corp.	122,855		23,969,011	0.9%
Five Point Holdings LLC, Class A (A)	2,386,395		19,282,072	0.8%
			98,320,203
TOTAL COMMON STOCKS (Cost $1,308,056,443)		$	2,493,080,567

Fundamental All Cap Core Trust (continued)

		Shares or Principal Amount	Value		% of Net Assets
SHORT-TERM INVESTMENTS - 1.4%
Repurchase agreement - 1.4%
Repurchase Agreement with State Street Corp. dated 6-30-21 at 0.000% to be repurchased at $35,082,000 on 7-1-21, collateralized by $33,173,800 U.S. Treasury Notes, 2.375% due 5-15-27 (valued at $35,783,641)	$	35,082,000	$	35,082,000	1.4%
TOTAL SHORT-TERM INVESTMENTS (Cost $35,082,000)			$	35,082,000
Total Investments (Fundamental All Cap Core Trust) (Cost $1,343,138,443) - 100.0%			$	2,528,162,567	100.0%
Other assets and liabilities, net - (0.0)%				(540,244)	(0.0)%
TOTAL NET ASSETS - 100.0%			$	2,527,622,323	100.0%

Security Abbreviations and Legend
ADR	American Depositary Receipt
(A)	Non-income producing security.

Fundamental Large Cap Value Trust

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS - 97.6%
Communication services - 9.9%
Alphabet, Inc., Class A (A)	10,019	$	24,464,294	3.0%
Comcast Corp., Class A	619,178		35,305,530	4.4%
Fox Corp., Class B	307,834		10,835,757	1.4%
Liberty Broadband Corp., Series A (A)	54,560		9,175,355	1.1%
			79,780,936
Consumer discretionary - 8.0%
CarMax, Inc. (A)	62,265		8,041,525	1.0%
eBay, Inc.	310,545		21,803,364	2.7%
Group 1 Automotive, Inc.	53,759		8,302,002	1.0%
Lennar Corp., A Shares	269,386		26,763,499	3.3%
			64,910,390
Consumer staples - 9.1%
Anheuser-Busch InBev SA/NV, ADR	215,540		15,521,035	1.9%
Danone SA	217,834		15,325,689	1.9%
Heineken Holding NV	121,876		12,298,357	1.5%
Post Holdings, Inc. (A)	165,539		17,956,015	2.2%
Walmart, Inc.	87,976		12,406,376	1.6%
			73,507,472
Energy - 9.7%
ChampionX Corp. (A)	296,050		7,593,683	0.9%
Cheniere Energy, Inc. (A)	293,933		25,495,748	3.2%
Chevron Corp.	133,407		13,973,049	1.7%
Kinder Morgan, Inc.	438,599		7,995,660	1.0%
Suncor Energy, Inc.	634,892		15,218,361	1.9%
Valero Energy Corp.	103,773		8,102,596	1.0%
			78,379,097
Financials - 23.8%
American Express Company	87,871		14,518,925	1.8%
Bank of America Corp.	365,644		15,075,502	1.9%
Berkshire Hathaway, Inc., Class B (A)	59,819		16,624,896	2.1%
Citigroup, Inc.	353,630		25,019,323	3.1%
JPMorgan Chase & Co.	124,379		19,345,910	2.4%
KKR & Company, Inc.	309,381		18,327,730	2.3%

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Fundamental Large Cap Value Trust (continued)

		Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS (continued)
Financials (continued)
Morgan Stanley		154,865	$	14,199,572	1.7%
Nasdaq, Inc.		112,157		19,717,201	2.4%
State Street Corp.		165,872		13,647,948	1.7%
The Goldman Sachs Group, Inc.		33,209		12,603,812	1.6%
Wells Fargo & Company		499,950		22,642,736	2.8%
				191,723,555
Health care - 13.4%
Anthem, Inc.		97,756		37,323,243	4.6%
Danaher Corp.		56,406		15,137,114	1.9%
Gilead Sciences, Inc.		91,807		6,321,830	0.8%
HCA Healthcare, Inc.		30,985		6,405,839	0.8%
Hologic, Inc. (A)		121,690		8,119,157	1.0%
Merck & Company, Inc.		142,218		11,060,294	1.3%
UnitedHealth Group, Inc.		30,432		12,186,190	1.5%
OTHER SECURITIES				11,690,438	1.5%
				108,244,105
Industrials - 12.3%
Fortive Corp.		111,656		7,786,889	0.9%
General Dynamics Corp.		85,901		16,171,722	2.0%
L3Harris Technologies, Inc.		36,436		7,875,641	1.0%
Parker-Hannifin Corp.		85,855		26,366,929	3.3%
Raytheon Technologies Corp.		261,785		22,332,878	2.8%
United Rentals, Inc. (A)		59,299		18,916,974	2.3%
				99,451,033
Information technology - 8.0%
Analog Devices, Inc.		49,175		8,465,968	1.1%
Microsoft Corp.		66,716		18,073,364	2.2%
Oracle Corp.		217,958		16,965,851	2.1%
Samsung Electronics Company, Ltd.		157,290		11,259,782	1.4%
Vontier Corp.		301,431		9,820,622	1.2%
				64,585,587
Materials - 1.0%
LyondellBasell Industries NV, Class A		75,586		7,775,532	1.0%
Real estate - 2.4%
American Tower Corp.		72,396		19,557,055	2.4%
TOTAL COMMON STOCKS (Cost $545,721,942)			$	787,914,762
SHORT-TERM INVESTMENTS - 2.8%
Repurchase agreement - 2.8%
Repurchase Agreement with State Street Corp. dated 6-30-21 at 0.000% to be repurchased at $22,470,000 on 7-1-21, collateralized by $21,247,800 U.S. Treasury Notes, 2.375% due 5-15-27 (valued at $22,919,402)	$	22,470,000		22,470,000	2.8%
TOTAL SHORT-TERM INVESTMENTS (Cost $22,470,000)			$	22,470,000
Total Investments (Fundamental Large Cap Value Trust) (Cost $568,191,942) - 100.4%			$	810,384,762	100.4%
Other assets and liabilities, net - (0.4)%				(3,583,698)	(0.4)%
TOTAL NET ASSETS - 100.0%			$	806,801,064	100.0%

Security Abbreviations and Legend
ADR	American Depositary Receipt
(A)	Non-income producing security.

Global Equity Trust

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS - 95.9%
China - 1.1%
Alibaba Group Holding, Ltd., ADR (A)	17,039	$	3,864,104	1.1%
France - 8.7%
Capgemini SE	43,166		8,301,387	2.4%
Cie Generale des Etablissements Michelin SCA	47,524		7,584,593	2.1%
Sanofi	93,084		9,779,625	2.8%
TotalEnergies SE	109,830		4,975,485	1.4%
			30,641,090
Germany - 1.3%
Deutsche Post AG	70,136		4,776,582	1.3%
Ireland - 2.0%
CRH PLC	139,685		7,064,039	2.0%
Japan - 4.1%
FANUC Corp.	19,471		4,669,103	1.3%
Mitsubishi Estate Company, Ltd.	193,469		3,127,151	0.9%
Sumitomo Mitsui Financial Group, Inc.	189,600		6,535,887	1.9%
			14,332,141
Netherlands - 9.7%
Akzo Nobel NV	35,479		4,393,031	1.2%
ING Groep NV	507,728		6,739,745	1.9%
Koninklijke Ahold Delhaize NV	210,966		6,282,462	1.8%
Koninklijke Philips NV	145,391		7,216,347	2.0%
Stellantis NV	496,277		9,763,429	2.8%
			34,395,014
Switzerland - 4.2%
Chubb, Ltd.	32,310		5,135,351	1.5%
Roche Holding AG	25,791		9,719,032	2.7%
			14,854,383
United Kingdom - 8.3%
Associated British Foods PLC	202,791		6,225,037	1.8%
Ferguson PLC	40,872		5,686,402	1.6%
RELX PLC	273,449		7,250,955	2.0%
Tesco PLC	1,672,166		5,165,619	1.5%
Unilever PLC	88,233		5,155,764	1.4%
			29,483,777
United States - 56.5%
Alexion Pharmaceuticals, Inc. (A)	52,923		9,722,484	2.8%
Alphabet, Inc., Class A (A)	7,006		17,107,181	4.8%
Apple, Inc.	84,624		11,590,103	3.3%
Arthur J. Gallagher & Company	48,585		6,805,787	1.9%
AutoZone, Inc. (A)	7,383		11,017,060	3.1%
Bank of America Corp.	230,168		9,489,827	2.7%
Comcast Corp., Class A	157,086		8,957,044	2.5%
Corteva, Inc.	158,161		7,014,440	2.0%
Electronic Arts, Inc.	30,858		4,438,306	1.3%
Facebook, Inc., Class A (A)	37,876		13,169,864	3.7%
Huntington Bancshares, Inc.	392,544		5,601,603	1.6%
Johnson & Johnson	52,520		8,652,145	2.4%
Johnson Controls International PLC	83,282		5,715,644	1.6%
Kimberly-Clark Corp.	34,379		4,599,223	1.3%
Lennar Corp., A Shares	48,715		4,839,835	1.4%
Microsoft Corp.	46,856		12,693,290	3.6%
Northrop Grumman Corp.	24,251		8,813,541	2.5%
Oracle Corp.	77,658		6,044,899	1.7%

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Global Equity Trust (continued)

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS (continued)
United States (continued)
Philip Morris International, Inc.	147,177	$	14,586,712	4.1%
Stanley Black & Decker, Inc.	28,666		5,876,243	1.7%
The Home Depot, Inc.	14,216		4,533,340	1.3%
T-Mobile US, Inc. (A)	36,574		5,297,012	1.5%
Waste Management, Inc.	50,517		7,077,937	2.0%
Wells Fargo & Company	133,168		6,031,179	1.7%
			199,674,699
TOTAL COMMON STOCKS (Cost $273,907,703)		$	339,085,829
PREFERRED SECURITIES - 2.9%
South Korea - 2.9%
Samsung Electronics Company, Ltd.	159,654		10,449,367	2.9%
TOTAL PREFERRED SECURITIES (Cost $6,281,297)		$	10,449,367

Global Equity Trust (continued)

	Shares or Principal Amount	Value		% of Net Assets
SHORT-TERM INVESTMENTS - 1.3%
Short-term funds - 1.3%
Federated Government Obligations Fund, Institutional Class, 0.0100% (B)	4,524,300	$	4,524,300	1.3%
TOTAL SHORT-TERM INVESTMENTS (Cost $4,524,300)		$	4,524,300
Total Investments (Global Equity Trust) (Cost $284,713,300) - 100.1%		$	354,059,496	100.1%
Other assets and liabilities, net - (0.1)%			(474,138)	(0.1)%
TOTAL NET ASSETS - 100.0%		$	353,585,358	100.0%

Security Abbreviations and Legend
ADR	American Depositary Receipt
(A)	Non-income producing security.
(B)	The rate shown is the annualized seven-day yield as of 6-30-21.

DERIVATIVES

FORWARD FOREIGN CURRENCY CONTRACTS

Contract to buy		Contract to sell		Counterparty (OTC)	Contractual settlement date	Unrealized appreciation	Unrealized depreciation
EUR	8,692,132	USD	10,630,034	GSI	7/21/2021	—	$(319,180)
USD	10,591,719	EUR	8,692,132	RBCD	7/21/2021	$280,865	—
						$280,865	$(319,180)

Derivatives Currency Abbreviations
EUR	Euro
USD	U.S. Dollar

Derivatives Abbreviations
GSI	Goldman Sachs International
OTC	Over-the-counter
RBCD	RBC Dominion Securities, Inc.

See Notes to financial statements regarding investment transactions and other derivatives information.

Health Sciences Trust

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS - 98.5%
Consumer discretionary - 0.2%		$	544,627	0.2%
Consumer staples - 0.0%			32,592	0.0%
Financials - 0.6%			2,114,429	0.6%
Health care - 97.7%
10X Genomics, Inc., Class A (A)	9,307		1,822,497	0.5%
AbbVie, Inc.	51,094		5,755,228	1.7%
Acceleron Pharma, Inc. (A)	26,083		3,273,156	1.0%
Agilent Technologies, Inc.	39,844		5,889,342	1.7%
Alnylam Pharmaceuticals, Inc. (A)	19,267		3,266,142	1.0%
Amgen, Inc.	15,508		3,780,075	1.1%
Anthem, Inc.	14,282		5,452,868	1.6%
Argenx SE, ADR (A)	15,031		4,525,383	1.3%
Ascendis Pharma A/S, ADR (A)	13,323		1,752,641	0.5%
AstraZeneca PLC, ADR	93,760		5,616,224	1.7%
Avantor, Inc. (A)	72,058		2,558,780	0.8%

Health Sciences Trust (continued)

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS (continued)
Health care (continued)
Becton, Dickinson and Company	17,277	$	4,201,594	1.2%
Biogen, Inc. (A)	10,185		3,526,760	1.0%
BioNTech SE, ADR (A)	27,532		6,163,864	1.8%
Bruker Corp.	34,931		2,654,057	0.8%
Centene Corp. (A)	82,925		6,047,720	1.8%
Cigna Corp.	26,466		6,274,295	1.9%
Danaher Corp.	43,522		11,679,564	3.5%
Denali Therapeutics, Inc. (A)	28,647		2,247,071	0.7%
DexCom, Inc. (A)	5,303		2,264,381	0.7%
Doximity, Inc., Class A (A)	10,171		591,952	0.2%
Doximity, Inc., Class B (A)(B)	63,222		3,412,807	1.0%
Eli Lilly & Company	51,965		11,927,007	3.5%
Exact Sciences Corp. (A)	27,175		3,378,124	1.0%
Exelixis, Inc. (A)	102,725		1,871,650	0.6%
HCA Healthcare, Inc.	20,376		4,212,534	1.2%
Hologic, Inc. (A)	47,489		3,168,466	0.9%
Humana, Inc.	14,022		6,207,820	1.8%
Incyte Corp. (A)	45,661		3,841,460	1.1%

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Health Sciences Trust (continued)

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS (continued)
Health care (continued)
Intuitive Surgical, Inc. (A)	13,392	$	12,315,819	3.6%
Kodiak Sciences, Inc. (A)	21,111		1,963,323	0.6%
Merck & Company, Inc.	62,313		4,846,082	1.4%
Mirati Therapeutics, Inc. (A)	11,094		1,792,014	0.5%
Moderna, Inc. (A)	24,256		5,699,675	1.7%
Molina Healthcare, Inc. (A)	11,839		2,995,977	0.9%
Novocure, Ltd. (A)	11,724		2,600,618	0.8%
Pacific Biosciences of California, Inc. (A)	51,594		1,804,242	0.5%
Penumbra, Inc. (A)	10,493		2,875,712	0.9%
Regeneron Pharmaceuticals, Inc. (A)	8,356		4,667,160	1.4%
Roche Holding AG	8,260		3,112,681	0.9%
Seagen, Inc. (A)	17,739		2,800,633	0.8%
Shockwave Medical, Inc. (A)	15,493		2,939,487	0.9%
Stryker Corp.	30,619		7,952,673	2.3%
Teleflex, Inc.	6,780		2,724,136	0.8%
Thermo Fisher Scientific, Inc.	25,077		12,650,594	3.7%
Ultragenyx Pharmaceutical, Inc. (A)	26,048		2,483,677	0.7%
UnitedHealth Group, Inc.	51,699		20,702,343	6.1%
Veeva Systems, Inc., Class A (A)	10,139		3,152,722	0.9%
Vertex Pharmaceuticals, Inc. (A)	38,112		7,684,523	2.3%
West Pharmaceutical Services, Inc.	10,799		3,877,921	1.1%
OTHER SECURITIES			91,770,079	27.3%
			330,775,553
TOTAL COMMON STOCKS (Cost $206,796,964)		$	333,467,201
PREFERRED SECURITIES - 0.8%
Consumer discretionary - 0.2%			814,367	0.2%
Health care - 0.6%
Sartorius AG	3,704		1,927,961	0.6%
TOTAL PREFERRED SECURITIES (Cost $933,774)		$	2,742,328
WARRANTS - 0.0%			53,446	0.0%
TOTAL WARRANTS (Cost $7,214)		$	53,446
SHORT-TERM INVESTMENTS - 0.7%
Short-term funds - 0.7%			2,310,929	0.7%
TOTAL SHORT-TERM INVESTMENTS (Cost $2,310,929)		$	2,310,929
Total Investments (Health Sciences Trust) (Cost $210,048,881) - 100.0%		$	338,573,904	100.0%
Other assets and liabilities, net - 0.0%			162,546	0.0%
TOTAL NET ASSETS - 100.0%		$	338,736,450	100.0%

Security Abbreviations and Legend
ADR	American Depositary Receipt
(A)	Non-income producing security.
(B)	Restricted security as to resale, excluding 144A securities. For more information on this security refer to the Notes to financial statements.

International Equity Index Trust

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS - 96.3%
Argentina - 0.0%		$	29,484	0.0%

International Equity Index Trust (continued)

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS (continued)
Australia - 4.5%
BHP Group, Ltd.	97,792	$	3,557,709	0.4%
Commonwealth Bank of Australia	58,894		4,410,146	0.5%
CSL, Ltd.	15,105		3,230,490	0.4%
OTHER SECURITIES			31,437,767	3.2%
			42,636,112
Austria - 0.1%			1,235,558	0.1%
Belgium - 0.6%			5,167,275	0.6%
Brazil - 1.1%
Vale SA	130,797		2,978,158	0.3%
OTHER SECURITIES			7,717,390	0.8%
			10,695,548
Canada - 7.0%
Enbridge, Inc.	68,500		2,742,542	0.3%
Manulife Financial Corp. (A)	66,100		1,301,097	0.2%
Royal Bank of Canada	47,300		4,792,197	0.5%
Shopify, Inc., Class A (B)	3,700		5,411,116	0.6%
The Bank of Nova Scotia	40,200		2,614,492	0.3%
The Toronto-Dominion Bank	60,272		4,223,805	0.5%
OTHER SECURITIES			44,365,209	4.6%
			65,450,458
Chile - 0.1%			866,551	0.1%
China - 10.2%
Alibaba Group Holding, Ltd., ADR (B)	63,000		14,287,140	1.5%
China Construction Bank Corp., Class A	15,400		15,849	0.0%
China Construction Bank Corp., H Shares	3,209,914		2,518,831	0.3%
Meituan, Class B (B)(C)	120,300		4,962,515	0.6%
Tencent Holdings, Ltd.	191,200		14,395,928	1.6%
OTHER SECURITIES			59,959,287	6.2%
			96,139,550
Colombia - 0.0%			249,684	0.0%
Czech Republic - 0.0%			323,205	0.0%
Denmark - 1.6%
Novo Nordisk A/S, B Shares	58,071		4,861,045	0.5%
OTHER SECURITIES			10,179,387	1.1%
			15,040,432
Egypt - 0.0%			172,646	0.0%
Finland - 0.8%			7,542,565	0.8%
France - 6.9%
Air Liquide SA	15,910		2,789,813	0.3%
Airbus SE (B)	19,831		2,555,275	0.3%
L'Oreal SA	8,487		3,790,234	0.4%
LVMH Moet Hennessy Louis Vuitton SE	9,362		7,364,666	0.8%
Sanofi	38,211		4,014,538	0.4%
Schneider Electric SE	17,545		2,765,867	0.3%
Schneider Electric SE (Euronext London Exchange)	623		98,041	0.0%
TotalEnergies SE	85,421		3,869,716	0.4%
OTHER SECURITIES			37,603,711	4.0%
			64,851,861
Germany - 5.4%
Allianz SE	13,687		3,415,678	0.4%
Daimler AG	28,412		2,538,852	0.3%
SAP SE	35,216		4,946,420	0.5%
Siemens AG	25,395		4,032,178	0.4%

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

International Equity Index Trust (continued)

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS (continued)
Germany (continued)
OTHER SECURITIES		$	35,502,879	3.8%
			50,436,007
Greece - 0.1%			467,992	0.1%
Hong Kong - 2.6%
AIA Group, Ltd.	404,000		5,011,854	0.6%
OTHER SECURITIES			19,440,480	2.0%
			24,452,334
Hungary - 0.1%			615,167	0.1%
India - 2.9%
Infosys, Ltd., ADR	133,708		2,833,273	0.3%
Reliance Industries, Ltd.	7,646		217,564	0.0%
Reliance Industries, Ltd., GDR (C)	44,280		2,504,967	0.3%
OTHER SECURITIES			21,647,714	2.3%
			27,203,518
Indonesia - 0.3%			3,029,179	0.3%
Ireland - 0.7%			6,141,934	0.7%
Isle of Man - 0.1%			469,450	0.1%
Israel - 0.4%			3,613,956	0.4%
Italy - 1.3%
Enel SpA	277,869		2,582,196	0.3%
OTHER SECURITIES			9,544,476	1.0%
			12,126,672
Japan - 14.3%
Keyence Corp.	6,396		3,221,175	0.4%
SoftBank Group Corp.	41,400		2,887,311	0.3%
Sony Group Corp.	42,500		4,121,109	0.5%
Toyota Motor Corp.	71,480		6,248,360	0.7%
OTHER SECURITIES			117,732,116	12.4%
			134,210,071
Jordan - 0.0%			194,218	0.0%
Luxembourg - 0.2%			1,813,979	0.2%
Macau - 0.0%			438,384	0.0%
Malaysia - 0.4%			3,609,058	0.4%
Mexico - 0.5%			4,773,368	0.5%
Netherlands - 3.5%
ASML Holding NV	13,926		9,613,363	1.0%
Royal Dutch Shell PLC, A Shares	138,310		2,772,818	0.3%
Royal Dutch Shell PLC, B Shares	124,526		2,417,395	0.3%
OTHER SECURITIES			17,802,751	1.9%
			32,606,327
New Zealand - 0.2%			1,801,378	0.2%
Norway - 0.4%			3,907,913	0.4%
Peru - 0.1%			552,617	0.1%
Philippines - 0.2%			1,780,398	0.2%
Poland - 0.2%			2,208,918	0.2%
Portugal - 0.1%			824,051	0.1%
Romania - 0.0%			106,424	0.0%
Russia - 0.9%			8,627,078	0.9%
Saudi Arabia - 0.8%			7,883,363	0.8%
Singapore - 0.7%			6,430,049	0.7%
South Africa - 1.1%
Naspers, Ltd., N Shares	14,633		3,085,324	0.3%
OTHER SECURITIES			6,760,061	0.8%
			9,845,385

International Equity Index Trust (continued)

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS (continued)
South Korea - 3.6%
Samsung Electronics Company, Ltd.	158,644	$	11,356,714	1.2%
OTHER SECURITIES			22,399,678	2.4%
			33,756,392
Spain - 1.5%			14,537,348	1.5%
Sweden - 2.2%			20,518,477	2.2%
Switzerland - 6.3%
Nestle SA	95,776		11,938,199	1.3%
Novartis AG	74,879		6,830,955	0.7%
Roche Holding AG	23,693		8,928,426	1.0%
Roche Holding AG, Bearer Shares	1,064		432,729	0.1%
OTHER SECURITIES			31,061,301	3.2%
			59,191,610
Taiwan - 4.0%
Taiwan Semiconductor Manufacturing Company, Ltd.	813,227		17,515,289	1.9%
OTHER SECURITIES			20,427,593	2.1%
			37,942,882
Thailand - 0.4%			4,196,116	0.4%
Turkey - 0.1%			722,292	0.1%
United Arab Emirates - 0.0%			1,685	0.0%
United Kingdom - 7.7%
AstraZeneca PLC	44,092		5,297,392	0.6%
BP PLC	683,369		2,996,839	0.3%
British American Tobacco PLC	72,353		2,809,144	0.3%
Diageo PLC	78,828		3,778,105	0.4%
GlaxoSmithKline PLC	169,205		3,326,413	0.4%
HSBC Holdings PLC	686,857		3,964,196	0.4%
Rio Tinto PLC	37,839		3,125,025	0.3%
Unilever PLC	37,651		2,200,080	0.2%
Unilever PLC (Euronext Amsterdam Exchange)	49,466		2,899,146	0.3%
OTHER SECURITIES			42,249,078	4.5%
			72,645,418
United States - 0.1%			473,306	0.1%
Uruguay - 0.0%			263,016	0.0%
TOTAL COMMON STOCKS (Cost $594,987,579)		$	904,818,659
PREFERRED SECURITIES - 1.0%
Brazil - 0.4%			3,624,589	0.4%
Germany - 0.4%			3,775,183	0.4%
South Korea - 0.2%
Samsung Electronics Company, Ltd.	27,037		1,769,574	0.2%
OTHER SECURITIES			282,312	0.0%
			2,051,886
TOTAL PREFERRED SECURITIES (Cost $6,919,013)		$	9,451,658
CORPORATE BONDS - 0.0%
India - 0.0%			1,428	0.0%
TOTAL CORPORATE BONDS (Cost $1,439)		$	1,428
RIGHTS - 0.0%			14,843	0.0%
TOTAL RIGHTS (Cost $16,086)		$	14,843
WARRANTS - 0.0%			1,281	0.0%
TOTAL WARRANTS (Cost $0)		$	1,281

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

International Equity Index Trust (continued)

	Shares or Principal Amount	Value		% of Net Assets
SHORT-TERM INVESTMENTS - 2.1%
Short-term funds - 2.1%
Fidelity Institutional Money Market Government Portfolio, Institutional Class, 0.0100% (D)	12,319,307	$	12,319,307	1.3%
John Hancock Collateral Trust, 0.0324% (D)(E)	737,106		7,374,447	0.8%
TOTAL SHORT-TERM INVESTMENTS (Cost $19,693,909)		$	19,693,754
Total Investments (International Equity Index Trust) (Cost $621,618,026) - 99.4%		$	933,981,623	99.4%
Other assets and liabilities, net - 0.6%			6,087,993	0.6%
TOTAL NET ASSETS - 100.0%		$	940,069,616	100.0%

International Equity Index Trust (continued)

Security Abbreviations and Legend
ADR	American Depositary Receipt
GDR	Global Depositary Receipt
(A)	Investment is an affiliate of the fund, the advisor and/or subadvisor.
(B)	Non-income producing security.
(C)	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.
(D)	The rate shown is the annualized seven-day yield as of 6-30-21.
(E)	Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending.

DERIVATIVES

FUTURES

Open contracts	Number of contracts	Position	Expiration date	Notional basis^	Notional value^	Unrealized appreciation (depreciation)
Mini MSCI EAFE Index Futures	17	Long	Sep 2021	$2,008,004	$1,958,655	$(49,349)
Mini MSCI Emerging Markets Index Futures	350	Long	Sep 2021	23,989,098	23,884,000	(105,098)
						$(154,447)

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

See Notes to financial statements regarding investment transactions and other derivatives information.

International Small Company Trust

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS - 98.4%
Australia - 6.6%
OZ Minerals, Ltd.	18,111	$	304,481	0.3%
OTHER SECURITIES			8,243,900	6.3%
			8,548,381
Austria - 1.6%
ams AG (A)	10,399		208,909	0.2%
Wienerberger AG	5,497		211,888	0.2%
OTHER SECURITIES			1,668,692	1.2%
			2,089,489
Belgium - 1.5%			1,878,936	1.5%
Bermuda - 0.1%			95,981	0.1%
Cambodia - 0.0%			38,576	0.0%
Canada - 10.5%
ARC Resources, Ltd.	28,718		244,413	0.2%
BlackBerry, Ltd. (A)	6,480		79,197	0.1%
BlackBerry, Ltd. (New York Stock Exchange) (A)	14,111		172,436	0.1%
Finning International, Inc.	8,181		214,161	0.2%
Stantec, Inc.	5,278		235,500	0.2%
TFI International, Inc.	2,725		248,780	0.2%
OTHER SECURITIES			12,351,586	9.5%
			13,546,073
China - 0.1%			82,511	0.1%
Denmark - 2.1%
Royal Unibrew A/S	2,377		302,884	0.2%
SimCorp A/S	1,846		231,862	0.2%

International Small Company Trust (continued)

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS (continued)
Denmark (continued)
OTHER SECURITIES		$	2,161,407	1.7%
			2,696,153
Finland - 2.4%
Huhtamaki OYJ	4,496		213,254	0.2%
Nokian Renkaat OYJ	5,747		232,166	0.2%
Orion OYJ, Class A	982		42,151	0.0%
Orion OYJ, Class B	4,360		187,455	0.2%
Valmet OYJ	6,269		273,762	0.2%
OTHER SECURITIES			2,169,914	1.6%
			3,118,702
France - 4.2%
Faurecia SE	4,730		232,528	0.2%
Rexel SA (A)	15,736		329,482	0.3%
SCOR SE (B)	6,780		215,842	0.2%
SOITEC (A)	1,176		259,687	0.2%
OTHER SECURITIES			4,321,309	3.3%
			5,358,848
Gabon - 0.0%			3,382	0.0%
Georgia - 0.0%			61,571	0.0%
Germany - 6.2%
Commerzbank AG (A)	30,403		215,912	0.2%
GEA Group AG	7,088		287,206	0.2%
LANXESS AG	4,346		298,261	0.2%
ProSiebenSat.1 Media SE	10,428		207,928	0.2%
Rheinmetall AG	2,219		219,266	0.2%
TAG Immobilien AG	7,456		236,329	0.2%

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

International Small Company Trust (continued)

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS (continued)
Germany (continued)
OTHER SECURITIES		$	6,596,342	5.0%
			8,061,244
Gibraltar - 0.1%			84,282	0.1%
Greece - 0.0%			72	0.0%
Guernsey, Channel Islands - 0.0%			2,097	0.0%
Hong Kong - 2.5%
SITC International Holdings Company, Ltd.	51,000		213,126	0.2%
OTHER SECURITIES			3,029,669	2.3%
			3,242,795
Ireland - 0.8%			996,317	0.8%
Isle of Man - 0.1%			123,308	0.1%
Israel - 1.5%			1,922,097	1.5%
Italy - 3.2%
Banco BPM SpA	92,714		298,829	0.2%
OTHER SECURITIES			3,851,157	3.0%
			4,149,986
Japan - 22.1%			28,487,782	22.1%
Jersey, Channel Islands - 0.2%			195,963	0.2%
Liechtenstein - 0.0%			64,058	0.0%
Luxembourg - 0.6%			745,518	0.6%
Macau - 0.0%			19,545	0.0%
Malaysia - 0.2%			197,698	0.2%
Malta - 0.1%			185,709	0.1%
Netherlands - 2.8%
Aalberts NV	4,827		259,980	0.2%
ASR Nederland NV	6,907		267,449	0.2%
BE Semiconductor Industries NV	3,676		313,260	0.3%
Euronext NV (C)	2,271		247,058	0.2%
IMCD NV	2,557		407,419	0.3%
Signify NV (C)	5,815		369,123	0.3%
OTHER SECURITIES			1,711,718	1.3%
			3,576,007
New Zealand - 0.6%			743,603	0.6%
Norway - 0.8%			1,072,502	0.8%
Peru - 0.0%			35,121	0.0%
Portugal - 0.3%			336,002	0.3%
Russia - 0.0%			51,214	0.0%
Singapore - 1.3%			1,630,735	1.3%
South Africa - 0.1%			170,853	0.1%
Spain - 2.0%			2,571,715	2.0%
Sweden - 3.6%			4,678,666	3.6%
Switzerland - 6.4%
Belimo Holding AG	500		228,983	0.2%
Bucher Industries AG	428		224,121	0.2%
Georg Fischer AG	202		299,972	0.2%
PSP Swiss Property AG	2,294		291,290	0.2%

International Small Company Trust (continued)

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS (continued)
Switzerland (continued)
Siegfried Holding AG (A)	220	$	206,459	0.2%
Swiss Prime Site AG	2,097		208,121	0.2%
VAT Group AG (C)	1,510		502,164	0.4%
OTHER SECURITIES			6,251,314	4.8%
			8,212,424
Taiwan - 0.0%			0	0.0%
United Arab Emirates - 0.0%			27,195	0.0%
United Kingdom - 13.2%
Bellway PLC	5,109		228,889	0.2%
Dialog Semiconductor PLC (A)	4,280		332,886	0.3%
Diploma PLC	5,901		237,387	0.2%
Games Workshop Group PLC	1,599		252,167	0.2%
IG Group Holdings PLC	18,323		214,714	0.2%
IMI PLC	13,430		319,629	0.3%
Inchcape PLC	19,909		211,882	0.2%
Royal Mail PLC (A)	44,161		353,104	0.3%
Spectris PLC	5,368		240,765	0.2%
Tate & Lyle PLC	23,148		236,755	0.2%
Travis Perkins PLC (A)	11,685		273,397	0.2%
OTHER SECURITIES			14,138,177	10.7%
			17,039,752
United States - 0.6%			770,989	0.6%
TOTAL COMMON STOCKS (Cost $114,421,777)		$	126,913,852
PREFERRED SECURITIES - 0.3%
Germany - 0.3%			418,380	0.3%
TOTAL PREFERRED SECURITIES (Cost $290,628)		$	418,380
RIGHTS - 0.0%			433	0.0%
TOTAL RIGHTS (Cost $0)		$	433
SHORT-TERM INVESTMENTS - 1.6%
Short-term funds - 1.6%
John Hancock Collateral Trust, 0.0324% (D)(E)	197,422		1,975,132	1.6%
TOTAL SHORT-TERM INVESTMENTS (Cost $1,975,197)		$	1,975,132
Total Investments (International Small Company Trust) (Cost $116,687,602) - 100.3%		$	129,307,797	100.3%
Other assets and liabilities, net - (0.3)%			(329,385)	(0.3)%
TOTAL NET ASSETS - 100.0%		$	128,978,412	100.0%

Security Abbreviations and Legend
(A)	Non-income producing security.
(B)	All or a portion of this security is on loan as of 6-30-21.
(C)	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.
(D)	The rate shown is the annualized seven-day yield as of 6-30-21.
(E)	Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending.

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

International Small Company Trust (continued)

DERIVATIVES

FUTURES

Open contracts	Number of contracts	Position	Expiration date	Notional basis^	Notional value^	Unrealized appreciation (depreciation)
Mini MSCI EAFE Index Futures	7	Long	Sep 2021	$826,892	$806,505	$(20,387)
						$(20,387)

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

See Notes to financial statements regarding investment transactions and other derivatives information.

Lifestyle Balanced Portfolio

	Shares or Principal Amount	Value		% of Net Assets
AFFILIATED INVESTMENT COMPANIES (A) - 100.0%
Equity - 50.0%
Strategic Equity Allocation, Series NAV, JHVIT (MIM US) (B)	25,293,976	$	600,731,941	50.0%
Fixed income - 50.0%
Select Bond, Series NAV, JHVIT (MIM US) (B)	41,563,537		600,177,477	50.0%
TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $1,015,316,897)		$	1,200,909,418
Total Investments (Lifestyle Balanced Portfolio) (Cost $1,015,316,897) - 100.0%		$	1,200,909,418	100.0%
Other assets and liabilities, net - (0.0)%			(72,108)	(0.0)%
TOTAL NET ASSETS - 100.0%		$	1,200,837,310	100.0%

Security Abbreviations and Legend
JHVIT	John Hancock Variable Insurance Trust
MIM US	Manulife Investment Management (US) LLC
(A)	The underlying portfolios' subadvisor is shown parenthetically.
(B)	The subadvisor is an affiliate of the advisor.

Lifestyle Conservative Portfolio

	Shares or Principal Amount	Value		% of Net Assets
AFFILIATED INVESTMENT COMPANIES (A) - 100.0%
Equity - 20.0%
Strategic Equity Allocation, Series NAV, JHVIT (MIM US) (B)	1,976,707	$	46,946,802	20.0%
Fixed income - 80.0%
Select Bond, Series NAV, JHVIT (MIM US) (B)	13,014,924		187,935,500	80.0%
TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $216,921,550)		$	234,882,302
Total Investments (Lifestyle Conservative Portfolio) (Cost $216,921,550) - 100.0%		$	234,882,302	100.0%
Other assets and liabilities, net - (0.0)%			(37,883)	(0.0)%
TOTAL NET ASSETS - 100.0%		$	234,844,419	100.0%

Security Abbreviations and Legend
JHVIT	John Hancock Variable Insurance Trust
MIM US	Manulife Investment Management (US) LLC
(A)	The underlying portfolios' subadvisor is shown parenthetically.
(B)	The subadvisor is an affiliate of the advisor.

Lifestyle Growth Portfolio

	Shares or Principal Amount	Value		% of Net Assets
AFFILIATED INVESTMENT COMPANIES (A) - 100.0%
Equity - 70.0%
Strategic Equity Allocation, Series NAV, JHVIT (MIM US) (B)	189,836,764	$	4,508,623,135	70.0%
Fixed income - 30.0%
Select Bond, Series NAV, JHVIT (MIM US) (B)	133,813,508		1,932,267,058	30.0%
TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $5,133,729,602)		$	6,440,890,193
Total Investments (Lifestyle Growth Portfolio) (Cost $5,133,729,602) - 100.0%		$	6,440,890,193	100.0%
Other assets and liabilities, net - (0.0)%			(273,947)	(0.0)%
TOTAL NET ASSETS - 100.0%		$	6,440,616,246	100.0%

Security Abbreviations and Legend
JHVIT	John Hancock Variable Insurance Trust
MIM US	Manulife Investment Management (US) LLC
(A)	The underlying portfolios' subadvisor is shown parenthetically.
(B)	The subadvisor is an affiliate of the advisor.

Lifestyle Moderate Portfolio

	Shares or Principal Amount	Value		% of Net Assets
AFFILIATED INVESTMENT COMPANIES (A) - 100.0%
Equity - 39.9%
Strategic Equity Allocation, Series NAV, JHVIT (MIM US) (B)	6,138,183	$	145,781,842	39.9%
Fixed income - 60.1%
Select Bond, Series NAV, JHVIT (MIM US) (B)	15,192,726		219,382,960	60.1%
TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $319,477,076)		$	365,164,802
Total Investments (Lifestyle Moderate Portfolio) (Cost $319,477,076) - 100.0%		$	365,164,802	100.0%
Other assets and liabilities, net - (0.0)%			(42,556)	(0.0)%
TOTAL NET ASSETS - 100.0%		$	365,122,246	100.0%

Security Abbreviations and Legend
JHVIT	John Hancock Variable Insurance Trust
MIM US	Manulife Investment Management (US) LLC
(A)	The underlying portfolios' subadvisor is shown parenthetically.
(B)	The subadvisor is an affiliate of the advisor.

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Mid Cap Index Trust

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS - 94.1%
Communication services - 1.7%
Cable One, Inc.	3,214	$	6,147,771	0.4%
OTHER SECURITIES			18,817,205	1.3%
			24,964,976
Consumer discretionary - 14.0%
Deckers Outdoor Corp. (A)	16,459		6,321,408	0.4%
Five Below, Inc. (A)	33,134		6,403,808	0.4%
Lear Corp.	32,384		5,676,268	0.4%
Lithia Motors, Inc.	17,609		6,051,157	0.4%
RH (A)	9,956		6,760,124	0.5%
Williams-Sonoma, Inc.	45,088		7,198,299	0.5%
OTHER SECURITIES			166,779,985	11.4%
			205,191,049
Consumer staples - 3.3%
Darling Ingredients, Inc. (A)	96,558		6,517,665	0.4%
The Boston Beer Company, Inc., Class A (A)	5,504		5,618,483	0.4%
OTHER SECURITIES			35,432,771	2.5%
			47,568,919
Energy - 2.0%
Targa Resources Corp.	135,308		6,014,441	0.4%
OTHER SECURITIES			22,612,158	1.6%
			28,626,599
Financials - 14.3%
Brown & Brown, Inc.	138,432		7,356,276	0.5%
East West Bancorp, Inc.	83,949		6,018,304	0.4%
FactSet Research Systems, Inc.	22,399		7,517,328	0.5%
First Horizon Corp.	326,872		5,648,348	0.4%
Signature Bank	34,100		8,376,665	0.6%
OTHER SECURITIES			174,926,908	11.9%
			209,843,829
Health care - 10.0%
Bio-Techne Corp.	23,015		10,362,745	0.7%
Jazz Pharmaceuticals PLC (A)	35,563		6,317,411	0.4%
Masimo Corp. (A)	29,943		7,259,680	0.5%
Molina Healthcare, Inc. (A)	34,559		8,745,501	0.6%
Repligen Corp. (A)	30,216		6,031,718	0.4%
OTHER SECURITIES			108,661,974	7.4%
			147,379,029
Industrials - 17.0%
Axon Enterprise, Inc. (A)	38,277		6,767,374	0.5%
Carlisle Companies, Inc.	30,885		5,910,771	0.4%
Graco, Inc.	100,264		7,589,985	0.5%
Hubbell, Inc.	32,142		6,005,411	0.4%
Lennox International, Inc.	20,343		7,136,324	0.5%
Nordson Corp.	31,979		7,019,710	0.5%
Owens Corning	61,816		6,051,786	0.4%
The Middleby Corp. (A)	32,921		5,703,892	0.4%
The Toro Company	63,355		6,961,447	0.5%
Trex Company, Inc. (A)	68,266		6,977,468	0.5%
XPO Logistics, Inc. (A)	60,156		8,415,223	0.6%
OTHER SECURITIES			175,637,651	11.8%
			250,177,042
Information technology - 13.6%
Ceridian HCM Holding, Inc. (A)	77,715		7,454,423	0.5%
Cognex Corp.	104,509		8,783,981	0.6%
Cree, Inc. (A)	68,331		6,691,655	0.5%
Fair Isaac Corp. (A)	17,029		8,560,138	0.6%
MKS Instruments, Inc.	32,758		5,829,286	0.4%
SolarEdge Technologies, Inc. (A)	30,757		8,500,312	0.6%

Mid Cap Index Trust (continued)

		Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS (continued)
Information technology (continued)
Universal Display Corp.		25,385	$	5,643,847	0.4%
OTHER SECURITIES				148,804,606	10.0%
				200,268,248
Materials - 6.0%
Cleveland-Cliffs, Inc. (A)(B)		271,883		5,861,797	0.4%
Reliance Steel & Aluminum Company		37,700		5,688,930	0.4%
RPM International, Inc.		76,639		6,796,347	0.5%
Steel Dynamics, Inc.		118,741		7,076,964	0.5%
OTHER SECURITIES				62,334,792	4.2%
				87,758,830
Real estate - 9.1%
Camden Property Trust		57,805		7,668,989	0.5%
Jones Lang LaSalle, Inc. (A)		30,361		5,934,361	0.4%
Medical Properties Trust, Inc.		348,072		6,996,247	0.5%
OTHER SECURITIES				113,466,360	7.7%
				134,065,957
Utilities - 3.1%
Essential Utilities, Inc.		132,279		6,045,150	0.4%
UGI Corp.		123,501		5,719,331	0.4%
OTHER SECURITIES				34,141,756	2.3%
				45,906,237
TOTAL COMMON STOCKS (Cost $993,572,945)			$	1,381,750,715
SHORT-TERM INVESTMENTS - 5.6%
U.S. Government - 1.6%
U.S. Cash Management Bill, 0.013%, 09/21/2021 *	$	23,000,000		22,997,485	1.6%
U.S. Government Agency - 3.2%
Federal Home Loan Bank Discount Note, 0.003%, 07/06/2021 *		47,000,000		46,999,804	3.2%
Short-term funds - 0.4%
John Hancock Collateral Trust, 0.0324% (C)(D)		609,581		6,098,615	0.4%
Repurchase agreement - 0.4%
Repurchase Agreement with State Street Corp. dated 6-30-21 at 0.000% to be repurchased at $6,487,000 on 7-1-21, collateralized by $6,837,000 U.S. Treasury Notes, 0.500% due 5-31-27 (valued at $6,616,800)	$	6,487,000		6,487,000	0.4%
TOTAL SHORT-TERM INVESTMENTS (Cost $82,584,920)			$	82,582,904
Total Investments (Mid Cap Index Trust) (Cost $1,076,157,865) - 99.7%			$	1,464,333,619	99.7%
Other assets and liabilities, net - 0.3%				4,451,737	0.3%
TOTAL NET ASSETS - 100.0%			$	1,468,785,356	100.0%

Security Abbreviations and Legend
(A)	Non-income producing security.
(B)	All or a portion of this security is on loan as of 6-30-21.
(C)	The rate shown is the annualized seven-day yield as of 6-30-21.
(D)	Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending.
*	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.

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Mid Cap Index Trust (continued)

DERIVATIVES

FUTURES

Open contracts	Number of contracts	Position	Expiration date	Notional basis^	Notional value^	Unrealized appreciation (depreciation)
S&P Mid 400 Index E-Mini Futures	306	Long	Sep 2021	$83,364,510	$82,387,440	$(977,070)
						$(977,070)

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

See Notes to financial statements regarding investment transactions and other derivatives information.

Mid Cap Stock Trust

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS - 97.8%
Communication services - 8.6%
IronSource, Ltd., Class A (A)	664,068	$	6,972,714	0.7%
Match Group, Inc. (A)	159,716		25,754,205	2.7%
Snap, Inc., Class A (A)	303,235		20,662,433	2.1%
Spotify Technology SA (A)	109,007		30,041,239	3.1%
			83,430,591
Consumer discretionary - 32.1%
2U, Inc. (A)	284,284		11,846,114	1.2%
Chegg, Inc. (A)	284,018		23,604,736	2.4%
Chipotle Mexican Grill, Inc. (A)	20,372		31,583,526	3.2%
Coupang, Inc., A Shares (A)(B)	707,162		28,723,276	2.9%
DraftKings, Inc., Class A (A)	477,352		24,903,454	2.6%
Five Below, Inc. (A)	114,872		22,201,311	2.3%
Floor & Decor Holdings, Inc., Class A (A)	209,674		22,162,542	2.3%
Lennar Corp., A Shares	184,111		18,291,428	1.9%
Lululemon Athletica, Inc. (A)	112,872		41,194,892	4.2%
Ollie's Bargain Outlet Holdings, Inc. (A)	275,775		23,200,951	2.4%
Penn National Gaming, Inc. (A)	117,824		9,012,358	0.9%
Planet Fitness, Inc., Class A (A)	152,165		11,450,416	1.2%
Polaris, Inc.	104,151		14,264,521	1.5%
Ross Stores, Inc.	111,238		13,793,512	1.4%
Thor Industries, Inc.	142,691		16,124,083	1.7%
			312,357,120
Consumer staples - 2.5%
The Boston Beer Company, Inc., Class A (A)	21,298		21,740,998	2.2%
OTHER SECURITIES			2,452,671	0.3%
			24,193,669
Financials - 4.4%
Ares Management Corp., Class A	195,040		12,402,594	1.3%
Tradeweb Markets, Inc., Class A	246,674		20,858,753	2.1%
OTHER SECURITIES			10,060,698	1.0%
			43,322,045
Health care - 20.9%
ABIOMED, Inc. (A)	60,362		18,839,584	1.9%
Agilent Technologies, Inc.	82,792		12,237,486	1.3%
Align Technology, Inc. (A)	67,017		40,947,387	4.2%
DexCom, Inc. (A)	65,236		27,855,772	2.9%
Elanco Animal Health, Inc. (A)	280,582		9,733,390	1.0%
Exact Sciences Corp. (A)	105,833		13,156,100	1.3%
GoodRx Holdings, Inc., Class A (A)(C)	448,955		16,166,870	1.7%

Mid Cap Stock Trust (continued)

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS (continued)
Health care (continued)
Insulet Corp. (A)	53,282	$	14,626,442	1.5%
Kodiak Sciences, Inc. (A)	70,109		6,520,137	0.7%
Multiplan Corp. (A)(C)	1,331,324		12,674,204	1.3%
Oak Street Health, Inc. (A)	300,561		17,603,858	1.8%
OTHER SECURITIES			13,009,881	1.3%
			203,371,111
Industrials - 7.7%
Copart, Inc. (A)	116,049		15,298,740	1.6%
CoStar Group, Inc. (A)	350,810		29,054,084	3.0%
Leidos Holdings, Inc.	174,951		17,687,546	1.8%
The Middleby Corp. (A)	76,893		13,322,481	1.3%
			75,362,851
Information technology - 21.6%
Arista Networks, Inc. (A)	42,034		15,229,339	1.6%
Fair Isaac Corp. (A)	52,302		26,291,169	2.7%
Guidewire Software, Inc. (A)	171,064		19,282,334	2.0%
Marvell Technology, Inc.	248,473		14,493,430	1.5%
MKS Instruments, Inc.	62,549		11,130,595	1.1%
MongoDB, Inc. (A)	46,006		16,632,089	1.7%
Paycom Software, Inc. (A)	60,925		22,144,410	2.3%
RingCentral, Inc., Class A (A)	84,074		24,430,223	2.5%
SolarEdge Technologies, Inc. (A)	47,450		13,113,757	1.4%
Universal Display Corp.	57,828		12,856,899	1.3%
Varonis Systems, Inc. (A)	271,007		15,615,423	1.6%
Workday, Inc., Class A (A)	74,970		17,898,338	1.8%
OTHER SECURITIES			965,640	0.1%
			210,083,646
TOTAL COMMON STOCKS (Cost $700,640,209)		$	952,121,033
PREFERRED SECURITIES - 0.8%
Consumer discretionary - 0.0%			48,431	0.0%
Information technology - 0.7%			6,839,067	0.7%
Real estate - 0.1%			1,072,477	0.1%
TOTAL PREFERRED SECURITIES (Cost $7,951,358)		$	7,959,975
SHORT-TERM INVESTMENTS - 4.5%
Short-term funds - 3.1%
John Hancock Collateral Trust, 0.0324% (D)(E)	2,996,018		29,973,961	3.1%

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Mid Cap Stock Trust (continued)

		Shares or Principal Amount	Value		% of Net Assets
SHORT-TERM INVESTMENTS (continued)
Repurchase agreement - 1.4%
Deutsche Bank Tri-Party Repurchase Agreement dated 6-30-21 at 0.050% to be repurchased at $13,800,019 on 7-1-21, collateralized by $13,567,217 Federal National Mortgage Association, 2.500% due 12-1-50 (valued at $14,076,000)	$	13,800,000	$	13,800,000	1.4%
TOTAL SHORT-TERM INVESTMENTS (Cost $43,774,462)			$	43,773,961
Total Investments (Mid Cap Stock Trust) (Cost $752,366,029) - 103.1%			$	1,003,854,969	103.1%
Other assets and liabilities, net - (3.1)%				(30,378,760)	(3.1)%
TOTAL NET ASSETS - 100.0%			$	973,476,209	100.0%

Security Abbreviations and Legend
(A)	Non-income producing security.
(B)	Restricted security as to resale. For more information on this security refer to the Notes to financial statements.
(C)	All or a portion of this security is on loan as of 6-30-21.
(D)	The rate shown is the annualized seven-day yield as of 6-30-21.
(E)	Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending.

Mid Value Trust

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS - 92.5%
Communication services - 4.7%
News Corp., Class A	562,162	$	14,486,915	2.2%
OTHER SECURITIES			17,306,001	2.5%
			31,792,916
Consumer discretionary - 2.7%
Ralph Lauren Corp.	53,041		6,248,760	0.9%
OTHER SECURITIES			11,696,032	1.8%
			17,944,792
Consumer staples - 8.4%
Bunge, Ltd.	160,551		12,547,061	1.9%
Campbell Soup Company	141,276		6,440,773	1.0%
Flowers Foods, Inc.	563,284		13,631,473	2.0%
Sysco Corp.	122,711		9,540,780	1.4%
The Kraft Heinz Company	147,059		5,997,066	0.9%
OTHER SECURITIES			7,925,557	1.2%
			56,082,710
Energy - 12.5%
Cameco Corp.	557,369		10,690,337	1.6%
Canadian Natural Resources, Ltd.	241,590		8,764,885	1.3%
EQT Corp. (A)	783,636		17,443,737	2.6%
Imperial Oil, Ltd.	528,268		16,059,347	2.4%
TechnipFMC PLC (A)	902,858		8,170,865	1.2%
OTHER SECURITIES			22,772,301	3.4%
			83,901,472
Financials - 16.2%
Brighthouse Financial, Inc. (A)	128,985		5,873,977	0.9%
Brown & Brown, Inc.	145,130		7,712,208	1.1%
CNA Financial Corp.	159,545		7,257,702	1.1%

Mid Value Trust (continued)

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS (continued)
Financials (continued)
Fifth Third Bancorp	344,783	$	13,181,054	2.0%
Groupe Bruxelles Lambert SA	62,496		6,997,757	1.0%
Lazard, Ltd., Class A	109,351		4,948,133	0.7%
Loews Corp.	240,193		13,126,547	2.0%
Northern Trust Corp.	79,862		9,233,644	1.4%
RenaissanceRe Holdings, Ltd.	34,049		5,067,172	0.8%
State Street Corp.	147,600		12,144,528	1.8%
Westamerica Bancorporation	96,310		5,588,869	0.8%
OTHER SECURITIES			17,312,637	2.6%
			108,444,228
Health care - 16.5%
Alkermes PLC (A)	200,806		4,923,763	0.7%
Baxter International, Inc.	127,028		10,225,754	1.5%
Cardinal Health, Inc.	286,942		16,381,519	2.4%
Dentsply Sirona, Inc.	154,242		9,757,349	1.5%
Patterson Companies, Inc.	329,430		10,011,378	1.5%
Perrigo Company PLC	165,346		7,581,114	1.1%
Select Medical Holdings Corp.	369,994		15,635,946	2.3%
Zimmer Biomet Holdings, Inc.	56,240		9,044,517	1.4%
OTHER SECURITIES			27,232,579	4.1%
			110,793,919
Industrials - 6.6%
CH Robinson Worldwide, Inc.	61,541		5,764,545	0.9%
PACCAR, Inc.	94,338		8,419,667	1.3%
Textron, Inc.	206,847		14,224,868	2.1%
OTHER SECURITIES			15,992,766	2.3%
			44,401,846
Information technology - 2.4%
Applied Materials, Inc.	54,323		7,735,595	1.2%
National Instruments Corp.	132,985		5,622,606	0.8%
OTHER SECURITIES			2,641,853	0.4%
			16,000,054
Materials - 9.5%
Corteva, Inc.	192,053		8,517,551	1.3%
Franco-Nevada Corp.	92,836		13,472,304	2.0%
Freeport-McMoRan, Inc.	205,261		7,617,236	1.1%
Fresnillo PLC	463,435		4,955,411	0.7%
Summit Materials, Inc., Class A (A)	218,008		7,597,579	1.1%
OTHER SECURITIES			21,370,857	3.3%
			63,530,938
Real estate - 6.1%
Rayonier, Inc.	284,394		10,218,276	1.5%
Regency Centers Corp.	99,981		6,405,783	1.0%
Weyerhaeuser Company	296,059		10,190,351	1.5%
OTHER SECURITIES			14,479,780	2.1%
			41,294,190
Utilities - 6.9%
CenterPoint Energy, Inc.	218,405		5,355,291	0.8%
FirstEnergy Corp.	398,318		14,821,413	2.2%
National Fuel Gas Company	97,316		5,084,761	0.7%
PG&E Corp. (A)	1,011,699		10,288,979	1.5%
Vistra Corp.	426,620		7,913,801	1.2%
OTHER SECURITIES			3,191,540	0.5%
			46,655,785
TOTAL COMMON STOCKS (Cost $464,575,186)		$	620,842,850
PREFERRED SECURITIES - 0.1%
Consumer staples - 0.1%
Bunge, Ltd., 4.875%	8,102		941,695	0.1%
TOTAL PREFERRED SECURITIES (Cost $917,915)		$	941,695

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Mid Value Trust (continued)

	Shares or Principal Amount	Value		% of Net Assets
CORPORATE BONDS - 0.2%
Energy - 0.2%		$	1,484,080	0.2%
TOTAL CORPORATE BONDS (Cost $1,078,583)		$	1,484,080
TERM LOANS (B) - 0.0%
Energy - 0.0%			88,000	0.0%
TOTAL TERM LOANS (Cost $63,800)		$	88,000
SHORT-TERM INVESTMENTS - 7.4%
Short-term funds - 7.4%
John Hancock Collateral Trust, 0.0324% (C)(D)	282,737		2,828,667	0.4%
T. Rowe Price Government Reserve Fund, 0.0295% (C)	44,548,983		44,548,983	6.7%
OTHER SECURITIES			2,014,063	0.3%
			49,391,713
TOTAL SHORT-TERM INVESTMENTS (Cost $49,391,727)		$	49,391,713
Total Investments (Mid Value Trust) (Cost $516,027,211) - 100.2%		$	672,748,338	100.2%
Other assets and liabilities, net - (0.2)%			(1,438,238)	(0.2)%
TOTAL NET ASSETS - 100.0%		$	671,310,100	100.0%

Security Abbreviations and Legend
(A)	Non-income producing security.
(B)	Term loans are variable rate obligations. The coupon rate shown represents the rate at period end.
(C)	The rate shown is the annualized seven-day yield as of 6-30-21.
(D)	Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending.

Real Estate Securities Trust

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS - 99.5%
Consumer discretionary - 2.7%
Caesars Entertainment, Inc. (A)	45,675	$	4,738,781	1.3%
Playa Hotels & Resorts NV (A)	723,783		5,377,708	1.4%
			10,116,489
Health care - 2.3%
Brookdale Senior Living, Inc. (A)	491,232		3,880,733	1.1%
HCA Healthcare, Inc.	22,330		4,616,504	1.2%
			8,497,237
Real estate - 94.5%
Acadia Realty Trust	250,706		5,505,504	1.5%
Alexandria Real Estate Equities, Inc.	19,199		3,493,066	0.9%
American Homes 4 Rent, Class A	154,847		6,015,806	1.6%
American Tower Corp.	56,280		15,203,479	4.1%
AvalonBay Communities, Inc.	74,867		15,623,994	4.2%
Brixmor Property Group, Inc.	657,381		15,047,451	4.0%
Camden Property Trust	87,101		11,555,690	3.1%
Colliers International Group, Inc. (New York Stock Exchange)	55,860		6,255,203	1.7%
Crown Castle International Corp.	51,095		9,968,635	2.7%
Douglas Emmett, Inc.	196,504		6,606,464	1.8%
Equinix, Inc.	20,915		16,786,379	4.5%

Real Estate Securities Trust (continued)

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS (continued)
Real estate (continued)
Extra Space Storage, Inc.	126,812	$	20,774,342	5.6%
First Industrial Realty Trust, Inc.	95,022		4,962,999	1.3%
Healthpeak Properties, Inc.	299,480		9,969,689	2.7%
Independence Realty Trust, Inc.	452,122		8,242,184	2.2%
Innovative Industrial Properties, Inc.	20,666		3,947,619	1.1%
Invitation Homes, Inc.	296,241		11,046,827	3.0%
Jones Lang LaSalle, Inc. (A)	30,869		6,033,655	1.6%
Kilroy Realty Corp.	89,740		6,249,494	1.7%
Life Storage, Inc.	111,921		12,014,719	3.2%
Pebblebrook Hotel Trust	240,171		5,656,027	1.5%
PotlatchDeltic Corp.	74,785		3,974,823	1.1%
Prologis, Inc.	291,673		34,863,674	9.4%
Public Storage	19,255		5,789,786	1.5%
Retail Opportunity Investments Corp.	396,734		7,006,322	1.9%
Rexford Industrial Realty, Inc.	185,166		10,545,204	2.8%
Ryman Hospitality Properties, Inc. (A)	70,723		5,584,288	1.5%
Simon Property Group, Inc.	86,725		11,315,878	3.0%
SL Green Realty Corp.	119,006		9,520,480	2.6%
Sun Communities, Inc.	65,918		11,298,345	3.0%
UDR, Inc.	282,464		13,835,087	3.7%
VICI Properties, Inc.	401,302		12,448,388	3.3%
Weingarten Realty Investors	160,228		5,138,512	1.4%
Welltower, Inc.	236,113		19,620,990	5.3%
			351,901,003
TOTAL COMMON STOCKS (Cost $301,846,349)		$	370,514,729
SHORT-TERM INVESTMENTS - 0.4%
Short-term funds - 0.4%
State Street Institutional U.S. Government Money Market Fund, Premier Class, 0.0250% (B)	1,573,727		1,573,727	0.4%
TOTAL SHORT-TERM INVESTMENTS (Cost $1,573,727)		$	1,573,727
Total Investments (Real Estate Securities Trust) (Cost $303,420,076) - 99.9%		$	372,088,456	99.9%
Other assets and liabilities, net - 0.1%			235,099	0.1%
TOTAL NET ASSETS - 100.0%		$	372,323,555	100.0%

Security Abbreviations and Legend
(A)	Non-income producing security.
(B)	The rate shown is the annualized seven-day yield as of 6-30-21.

Science & Technology Trust

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS - 95.7%
Communication services - 15.3%
Alphabet, Inc., Class A (A)	3,060	$	7,471,877	0.6%
Alphabet, Inc., Class C (A)	25,283		63,367,289	5.4%
Baidu, Inc., ADR (A)	50,029		10,200,913	0.9%
Facebook, Inc., Class A (A)	168,957		58,748,038	5.0%
Mail.Ru Group, Ltd., GDR (A)	642,468		14,605,071	1.2%
Pinterest, Inc., Class A (A)	120,639		9,524,449	0.8%
OTHER SECURITIES			15,282,210	1.4%
			179,199,847

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Science & Technology Trust (continued)

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS (continued)
Consumer discretionary - 23.8%
Alibaba Group Holding, Ltd., ADR (A)	129,189	$	29,297,481	2.5%
Amazon.com, Inc. (A)	19,422		66,814,782	5.7%
Booking Holdings, Inc. (A)	11,388		24,917,969	2.1%
Delivery Hero SE (A)(B)	94,121		12,435,842	1.1%
Etsy, Inc. (A)	77,738		16,001,590	1.4%
Expedia Group, Inc. (A)	48,680		7,969,403	0.7%
Naspers, Ltd., N Shares	39,178		8,260,559	0.7%
Trip.com Group, Ltd., ADR (A)	829,503		29,414,176	2.5%
Wayfair, Inc., Class A (A)(C)	20,888		6,594,550	0.6%
Zalando SE (A)(B)	277,791		33,596,025	2.9%
OTHER SECURITIES			43,454,960	3.6%
			278,757,337
Health care - 0.7%
Intuitive Surgical, Inc. (A)	7,959		7,319,415	0.6%
OTHER SECURITIES			1,173,836	0.1%
			8,493,251
Industrials - 0.7%
Lyft, Inc., Class A (A)	118,905		7,191,374	0.6%
OTHER SECURITIES			1,461,704	0.1%
			8,653,078
Information technology - 55.2%
Apple, Inc.	158,705		21,736,237	1.9%
Applied Materials, Inc.	140,742		20,041,661	1.7%
Asana, Inc., Class A (A)	212,680		13,192,540	1.1%
Citrix Systems, Inc.	213,251		25,007,945	2.1%
Crowdstrike Holdings, Inc., Class A (A)	65,000		16,335,150	1.4%
HubSpot, Inc. (A)	40,928		23,849,564	2.0%
Intuit, Inc.	27,129		13,297,822	1.1%
Lam Research Corp.	21,120		13,742,784	1.2%
Mastercard, Inc., Class A	19,580		7,148,462	0.6%
Micron Technology, Inc. (A)	359,523		30,552,265	2.6%
Microsoft Corp.	157,633		42,702,780	3.6%
MongoDB, Inc. (A)	51,995		18,797,232	1.6%
NVIDIA Corp.	8,430		6,744,843	0.6%
NXP Semiconductors NV	33,780		6,949,222	0.6%
Paycom Software, Inc. (A)	32,675		11,876,382	1.0%
PayPal Holdings, Inc. (A)	61,370		17,888,128	1.5%
Pure Storage, Inc., Class A (A)	907,249		17,718,573	1.5%
QUALCOMM, Inc.	67,620		9,664,927	0.8%
salesforce.com, Inc. (A)	173,394		42,354,952	3.6%
Samsung Electronics Company, Ltd.	304,625		21,806,924	1.9%
Samsung SDI Company, Ltd.	16,386		10,145,191	0.9%
SK Hynix, Inc.	63,941		7,216,928	0.6%
Square, Inc., Class A (A)	53,295		12,993,321	1.1%
Taiwan Semiconductor Manufacturing Company, Ltd., ADR	83,695		10,056,791	0.9%
Twilio, Inc., Class A (A)	49,450		19,491,212	1.7%
Visa, Inc., Class A	36,909		8,630,062	0.7%
Western Digital Corp. (A)	126,940		9,034,320	0.8%
Workday, Inc., Class A (A)	36,120		8,623,289	0.7%
Xilinx, Inc.	111,396		16,112,317	1.4%
Zoom Video Communications, Inc., Class A (A)	57,609		22,296,411	1.9%
Zscaler, Inc. (A)	65,592		14,171,808	1.2%
OTHER SECURITIES			126,748,403	10.9%
			646,928,446
TOTAL COMMON STOCKS (Cost $856,806,172)		$	1,122,031,959

Science & Technology Trust (continued)

		Shares or Principal Amount	Value		% of Net Assets
SHORT-TERM INVESTMENTS - 5.1%
Short-term funds - 3.4%
John Hancock Collateral Trust, 0.0324% (D)(E)		969,251	$	9,696,971	0.8%
T. Rowe Price Government Reserve Fund, 0.0295% (D)		29,834,099		29,834,099	2.6%
OTHER SECURITIES				483,827	0.0%
				40,014,897
Repurchase agreement - 1.7%
Repurchase Agreement with State Street Corp. dated 6-30-21 at 0.000% to be repurchased at $19,536,000 on 7-1-21, collateralized by $19,914,000 U.S. Treasury Notes, 0.099% due 1-31-23 (valued at $19,926,760)	$	19,536,000		19,536,000	1.7%
TOTAL SHORT-TERM INVESTMENTS (Cost $59,551,122)			$	59,550,897
Total Investments (Science & Technology Trust) (Cost $916,357,294) - 100.8%			$	1,181,582,856	100.8%
Other assets and liabilities, net - (0.8)%				(9,129,922)	(0.8)%
TOTAL NET ASSETS - 100.0%			$	1,172,452,934	100.0%

Security Abbreviations and Legend
ADR	American Depositary Receipt
GDR	Global Depositary Receipt
(A)	Non-income producing security.
(B)	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.
(C)	All or a portion of this security is on loan as of 6-30-21.
(D)	The rate shown is the annualized seven-day yield as of 6-30-21.
(E)	Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending.

Small Cap Index Trust

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS - 95.1%
Communication services - 3.4%
AMC Entertainment Holdings, Inc., Class A (A)	91,052	$	5,160,819	0.7%
OTHER SECURITIES			19,369,307	2.7%
			24,530,126
Consumer discretionary - 11.4%
American Eagle Outfitters, Inc.	33,819		1,269,227	0.2%
Crocs, Inc. (A)	14,433		1,681,733	0.2%
Fox Factory Holding Corp. (A)	9,440		1,469,430	0.2%
Helen of Troy, Ltd. (A)	5,437		1,240,288	0.2%
Macy's, Inc. (A)	70,165		1,330,328	0.2%
Scientific Games Corp. (A)	21,522		1,666,664	0.2%
Texas Roadhouse, Inc.	15,661		1,506,588	0.2%
OTHER SECURITIES			70,679,213	10.0%
			80,843,471
Consumer staples - 3.0%
BJ's Wholesale Club Holdings, Inc. (A)	30,519		1,452,094	0.2%
Performance Food Group Company (A)	29,525		1,431,667	0.2%

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Small Cap Index Trust (continued)

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS (continued)
Consumer staples (continued)
OTHER SECURITIES		$	18,677,317	2.6%
			21,561,078
Energy - 4.1%
Ovintiv, Inc.	58,589		1,843,796	0.3%
OTHER SECURITIES			27,297,465	3.8%
			29,141,261
Financials - 14.1%
First Financial Bankshares, Inc.	28,372		1,393,916	0.2%
South State Corp.	15,612		1,276,437	0.2%
OTHER SECURITIES			97,833,856	13.7%
			100,504,209
Health care - 20.2%
Arrowhead Pharmaceuticals, Inc. (A)	22,700		1,880,014	0.3%
Beam Therapeutics, Inc. (A)(B)	10,548		1,357,633	0.2%
Bridgebio Pharma, Inc. (A)	24,107		1,469,563	0.2%
Denali Therapeutics, Inc. (A)	20,407		1,600,725	0.2%
Fate Therapeutics, Inc. (A)	17,974		1,559,963	0.2%
Halozyme Therapeutics, Inc. (A)	31,611		1,435,456	0.2%
HealthEquity, Inc. (A)	18,282		1,471,335	0.2%
Intellia Therapeutics, Inc. (A)	14,320		2,318,551	0.3%
Invitae Corp. (A)(B)	44,846		1,512,656	0.2%
LHC Group, Inc. (A)	6,822		1,366,174	0.2%
Nevro Corp. (A)	7,719		1,279,733	0.2%
Omnicell, Inc. (A)	9,600		1,453,920	0.2%
Pacific Biosciences of California, Inc. (A)	43,541		1,522,629	0.2%
Shockwave Medical, Inc. (A)	7,558		1,433,979	0.2%
STAAR Surgical Company (A)	10,526		1,605,215	0.2%
Tenet Healthcare Corp. (A)	23,742		1,590,477	0.2%
Twist Bioscience Corp. (A)	10,588		1,410,851	0.2%
OTHER SECURITIES			117,295,678	16.6%
			143,564,552
Industrials - 13.5%
EMCOR Group, Inc.	12,021		1,480,867	0.2%
Rexnord Corp.	26,648		1,333,466	0.2%
Saia, Inc. (A)	5,923		1,240,809	0.2%
Tetra Tech, Inc.	12,002		1,464,724	0.2%
Upwork, Inc. (A)	26,102		1,521,486	0.2%
OTHER SECURITIES			89,387,354	12.5%
			96,428,706
Information technology - 13.0%
Blackline, Inc. (A)	12,001		1,335,351	0.2%
Digital Turbine, Inc. (A)	18,910		1,437,727	0.2%
II-VI, Inc. (A)	23,365		1,696,065	0.2%
j2 Global, Inc. (A)	9,657		1,328,320	0.2%
Lattice Semiconductor Corp. (A)	30,272		1,700,681	0.2%
Q2 Holdings, Inc. (A)	12,233		1,254,861	0.2%
Silicon Laboratories, Inc. (A)	9,861		1,511,198	0.2%
Synaptics, Inc. (A)	7,869		1,224,259	0.2%
Varonis Systems, Inc. (A)	23,714		1,366,401	0.2%
OTHER SECURITIES			79,340,205	11.2%
			92,195,068

Small Cap Index Trust (continued)

		Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS (continued)
Materials - 3.6%			$	25,907,340	3.6%
Real estate - 6.5%
EastGroup Properties, Inc.		8,649		1,422,328	0.2%
Redfin Corp. (A)		22,791		1,445,177	0.2%
STAG Industrial, Inc.		35,482		1,328,091	0.2%
OTHER SECURITIES				42,218,615	5.9%
				46,414,211
Utilities - 2.3%				16,100,776	2.3%
TOTAL COMMON STOCKS (Cost $459,598,278)			$	677,190,798
RIGHTS - 0.0%				74,897	0.0%
TOTAL RIGHTS (Cost $26,845)			$	74,897
WARRANTS - 0.0%				6,680	0.0%
TOTAL WARRANTS (Cost $0)			$	6,680
SHORT-TERM INVESTMENTS - 5.4%
U.S. Government Agency - 3.2%
Federal Home Loan Bank Discount Note, 0.020%, 07/16/2021 *	$	13,000,000		12,999,838	1.8%
Federal Home Loan Bank Discount Note, 0.035%, 08/25/2021 *		3,000,000		2,999,817	0.4%
Federal Home Loan Bank Discount Note, 0.040%, 07/19/2021 *		7,000,000		6,999,895	1.0%
				22,999,550
Short-term funds - 0.8%
John Hancock Collateral Trust, 0.0324% (C)(D)		569,583		5,698,446	0.8%
Repurchase agreement - 1.4%
Repurchase Agreement with State Street Corp. dated 6-30-21 at 0.000% to be repurchased at $9,600,000 on 7-1-21, collateralized by $10,117,900 U.S. Treasury Notes, 0.500% due 5-31-27 (valued at $9,792,031)	$	9,600,000		9,600,000	1.4%
TOTAL SHORT-TERM INVESTMENTS (Cost $38,298,272)			$	38,297,996
Total Investments (Small Cap Index Trust) (Cost $497,923,395) - 100.5%			$	715,570,371	100.5%
Other assets and liabilities, net - (0.5)%				(3,382,037)	(0.5)%
TOTAL NET ASSETS - 100.0%			$	712,188,334	100.0%

Security Abbreviations and Legend
(A)	Non-income producing security.
(B)	All or a portion of this security is on loan as of 6-30-21.
(C)	The rate shown is the annualized seven-day yield as of 6-30-21.
(D)	Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending.
*	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.

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Small Cap Index Trust (continued)

DERIVATIVES

FUTURES

Open contracts	Number of contracts	Position	Expiration date	Notional basis^	Notional value^	Unrealized appreciation (depreciation)
Russell 2000 E-Mini Index Futures	311	Long	Sep 2021	$35,881,066	$35,886,290	$5,224
						$5,224

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

See Notes to financial statements regarding investment transactions and other derivatives information.

Small Cap Opportunities Trust

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS - 99.4%
Communication services - 2.1%
Liberty Media Corp.-Liberty Formula One, Series A (A)	2,022	$	86,198	0.1%
Liberty Media Corp.-Liberty Formula One, Series C (A)	11,028		531,660	0.3%
OTHER SECURITIES			2,956,297	1.7%
			3,574,155
Consumer discretionary - 14.0%
Churchill Downs, Inc.	3,372		668,533	0.4%
Chuy's Holdings, Inc. (A)	19,971		744,119	0.5%
Five Below, Inc. (A)	4,102		792,794	0.5%
Fox Factory Holding Corp. (A)	9,005		1,401,696	0.8%
Grand Canyon Education, Inc. (A)	8,923		802,802	0.5%
Lithia Motors, Inc.	3,368		1,157,380	0.7%
OTHER SECURITIES			17,784,192	10.6%
			23,351,516
Consumer staples - 4.1%
Darling Ingredients, Inc. (A)	10,424		703,620	0.4%
Performance Food Group Company (A)	12,763		618,878	0.4%
OTHER SECURITIES			5,607,801	3.3%
			6,930,299
Energy - 5.8%			9,630,556	5.8%
Financials - 20.5%
Ameris Bancorp	15,901		805,068	0.5%
Athene Holding, Ltd., Class A (A)	9,251		624,443	0.4%
Houlihan Lokey, Inc.	11,483		939,195	0.6%
Invesco, Ltd.	24,463		653,896	0.4%
Pinnacle Financial Partners, Inc.	11,251		993,351	0.6%
Stifel Financial Corp.	11,157		723,643	0.4%
OTHER SECURITIES			29,480,380	17.6%
			34,219,976
Health care - 13.0%
Acadia Healthcare Company, Inc. (A)	17,173		1,077,606	0.7%
AtriCure, Inc. (A)	10,886		863,586	0.5%
Biohaven Pharmaceutical Holding Company, Ltd. (A)	6,705		650,921	0.4%
Castle Biosciences, Inc. (A)	8,959		656,963	0.4%
Globus Medical, Inc., Class A (A)	11,443		887,176	0.5%
Halozyme Therapeutics, Inc. (A)	13,800		626,658	0.4%
HealthEquity, Inc. (A)	9,212		741,382	0.4%
Integra LifeSciences Holdings Corp. (A)	9,133		623,236	0.4%

Small Cap Opportunities Trust (continued)

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS (continued)
Health care (continued)
LHC Group, Inc. (A)	3,724	$	745,768	0.5%
Medpace Holdings, Inc. (A)	4,496		794,128	0.5%
Syneos Health, Inc. (A)	10,775		964,255	0.6%
Vericel Corp. (A)	14,267		749,018	0.5%
OTHER SECURITIES			12,376,040	7.2%
			21,756,737
Industrials - 18.5%
Alamo Group, Inc.	5,076		775,004	0.5%
CACI International, Inc., Class A (A)	3,008		767,401	0.5%
Exponent, Inc.	7,667		683,973	0.4%
Gibraltar Industries, Inc. (A)	12,472		951,738	0.6%
Knight-Swift Transportation Holdings, Inc.	15,069		685,037	0.4%
RBC Bearings, Inc. (A)	3,872		772,154	0.5%
Ritchie Brothers Auctioneers, Inc.	14,579		864,243	0.5%
SiteOne Landscape Supply, Inc. (A)	6,303		1,066,846	0.6%
The Shyft Group, Inc.	30,536		1,142,352	0.7%
Woodward, Inc.	5,227		642,294	0.4%
OTHER SECURITIES			22,510,634	13.4%
			30,861,676
Information technology - 12.5%
Arrow Electronics, Inc. (A)	6,456		734,886	0.4%
Brooks Automation, Inc.	10,256		977,192	0.6%
Cerence, Inc. (A)	12,238		1,305,917	0.8%
Endava PLC, ADR (A)	10,726		1,216,114	0.7%
Entegris, Inc.	7,052		867,184	0.5%
Paylocity Holding Corp. (A)	5,250		1,001,700	0.6%
Rapid7, Inc. (A)	12,338		1,167,545	0.7%
Rogers Corp. (A)	3,815		766,052	0.5%
The Descartes Systems Group, Inc. (A)	9,290		642,496	0.4%
Viavi Solutions, Inc. (A)	49,842		880,210	0.5%
OTHER SECURITIES			11,262,381	6.8%
			20,821,677
Materials - 6.8%
Avient Corp.	16,610		816,548	0.5%
Steel Dynamics, Inc.	10,944		652,262	0.4%
OTHER SECURITIES			9,877,843	5.9%
			11,346,653
Real estate - 1.5%
STAG Industrial, Inc.	17,092		639,754	0.4%
OTHER SECURITIES			1,812,669	1.1%
			2,452,423
Utilities - 0.6%			1,081,479	0.6%
TOTAL COMMON STOCKS (Cost $121,599,844)		$	166,027,147

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Small Cap Opportunities Trust (continued)

	Shares or Principal Amount	Value		% of Net Assets
PREFERRED SECURITIES - 0.1%
Consumer discretionary - 0.0%		$	22,300	0.0%
Industrials - 0.1%			46,551	0.1%
TOTAL PREFERRED SECURITIES (Cost $63,266)		$	68,851
WARRANTS - 0.0%			2,380	0.0%
TOTAL WARRANTS (Cost $0)		$	2,380
SHORT-TERM INVESTMENTS - 0.4%
Short-term funds - 0.4%
John Hancock Collateral Trust, 0.0324% (B)(C)	43,773		437,936	0.2%
OTHER SECURITIES			336,102	0.2%
			774,038
TOTAL SHORT-TERM INVESTMENTS (Cost $774,053)		$	774,038
Total Investments (Small Cap Opportunities Trust) (Cost $122,437,163) - 99.9%		$	166,872,416	99.9%
Other assets and liabilities, net - 0.1%			98,627	0.1%
TOTAL NET ASSETS - 100.0%		$	166,971,043	100.0%

Security Abbreviations and Legend
ADR	American Depositary Receipt
(A)	Non-income producing security.
(B)	The rate shown is the annualized seven-day yield as of 6-30-21.
(C)	Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending.

Small Cap Stock Trust

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS - 100.0%
Communication services - 3.9%
Bandwidth, Inc., Class A (A)	34,928	$	4,817,270	1.1%
Cardlytics, Inc. (A)	60,608		7,692,973	1.7%
Criteo SA, ADR (A)	106,605		4,821,744	1.1%
			17,331,987
Consumer discretionary - 19.6%
2U, Inc. (A)	131,350		5,473,355	1.3%
Cavco Industries, Inc. (A)	19,993		4,442,245	1.0%
Chegg, Inc. (A)	98,336		8,172,705	1.9%
Five Below, Inc. (A)	38,633		7,466,600	1.7%
Floor & Decor Holdings, Inc., Class A (A)	48,145		5,088,927	1.2%
Ollie's Bargain Outlet Holdings, Inc. (A)	92,337		7,768,312	1.8%
Planet Fitness, Inc., Class A (A)	103,860		7,815,465	1.8%
Porch Group, Inc. (A)(B)	61,660		1,192,504	0.3%
Porch.com, Inc. (A)(C)	148,379		2,791,670	0.6%
Skyline Champion Corp. (A)	109,562		5,839,655	1.3%
Wingstop, Inc.	30,933		4,875,969	1.1%
YETI Holdings, Inc. (A)	78,105		7,171,601	1.6%
OTHER SECURITIES			17,684,740	4.0%
			85,783,748
Consumer staples - 1.4%
The Boston Beer Company, Inc., Class A (A)	5,216		5,324,493	1.2%
OTHER SECURITIES			874,909	0.2%
			6,199,402
Financials - 3.8%			16,555,543	3.8%

Small Cap Stock Trust (continued)

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS (continued)
Health care - 27.7%
Accolade, Inc. (A)	103,562	$	5,624,452	1.3%
Globus Medical, Inc., Class A (A)	51,998		4,031,405	0.9%
Health Catalyst, Inc. (A)	77,215		4,286,205	1.0%
Hill-Rom Holdings, Inc.	38,639		4,389,004	1.0%
Integra LifeSciences Holdings Corp. (A)	71,774		4,897,858	1.1%
LHC Group, Inc. (A)	30,639		6,135,766	1.4%
Medpace Holdings, Inc. (A)	28,941		5,111,849	1.2%
Multiplan Corp. (A)(B)	522,868		4,977,703	1.1%
Oak Street Health, Inc. (A)	75,027		4,394,331	1.0%
OTHER SECURITIES			77,549,490	17.7%
			121,398,063
Industrials - 11.1%
Altra Industrial Motion Corp.	94,511		6,145,105	1.4%
Applied Industrial Technologies, Inc.	67,014		6,102,295	1.4%
Builders FirstSource, Inc. (A)	111,100		4,739,526	1.1%
Colfax Corp. (A)	88,868		4,071,043	0.9%
Curtiss-Wright Corp.	35,399		4,203,985	1.0%
The Middleby Corp. (A)	29,661		5,139,065	1.2%
OTHER SECURITIES			18,223,146	4.1%
			48,624,165
Information technology - 28.5%
Calix, Inc. (A)	87,505		4,156,488	1.0%
Digital Turbine, Inc. (A)	106,904		8,127,911	1.9%
II-VI, Inc. (A)	113,220		8,218,640	1.9%
j2 Global, Inc. (A)	42,551		5,852,890	1.3%
Jamf Holding Corp. (A)	126,013		4,230,256	1.0%
Manhattan Associates, Inc. (A)	40,292		5,835,893	1.3%
Mimecast, Ltd. (A)	85,276		4,523,892	1.0%
MKS Instruments, Inc.	25,082		4,463,342	1.0%
Novanta, Inc. (A)	30,413		4,098,456	0.9%
PAR Technology Corp. (A)	74,022		5,177,099	1.2%
Perficient, Inc. (A)	105,864		8,513,583	1.9%
Rapid7, Inc. (A)	99,423		9,408,401	2.2%
Repay Holdings Corp. (A)	186,299		4,478,628	1.0%
Telos Corp. (A)	129,363		4,399,636	1.0%
Tower Semiconductor, Ltd. (A)	261,684		7,701,360	1.8%
Varonis Systems, Inc. (A)	155,361		8,951,901	2.0%
Verra Mobility Corp. (A)	326,058		5,011,511	1.2%
OTHER SECURITIES			21,734,955	4.9%
			124,884,842
Materials - 0.6%			2,775,736	0.6%
Real estate - 3.4%
Essential Properties Realty Trust, Inc.	149,567		4,044,292	0.9%
Ryman Hospitality Properties, Inc. (A)	57,797		4,563,651	1.0%
Xenia Hotels & Resorts, Inc. (A)	223,064		4,177,989	1.0%
OTHER SECURITIES			2,274,770	0.5%
			15,060,702
TOTAL COMMON STOCKS (Cost $374,309,779)		$	438,614,188

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Small Cap Stock Trust (continued)

	Shares or Principal Amount	Value		% of Net Assets
SHORT-TERM INVESTMENTS - 2.5%
Short-term funds - 2.1%
John Hancock Collateral Trust, 0.0324% (D)(E)	923,740	$	9,241,650	2.1%
Repurchase agreement - 0.4%			1,800,000	0.4%
TOTAL SHORT-TERM INVESTMENTS (Cost $11,041,788)		$	11,041,650
Total Investments (Small Cap Stock Trust) (Cost $385,351,567) - 102.5%		$	449,655,838	102.5%
Other assets and liabilities, net - (2.5)%			(11,151,125)	(2.5)%
TOTAL NET ASSETS - 100.0%		$	438,504,713	100.0%

Security Abbreviations and Legend
ADR	American Depositary Receipt
(A)	Non-income producing security.
(B)	All or a portion of this security is on loan as of 6-30-21.
(C)	Restricted security as to resale. For more information on this security refer to the Notes to financial statements.
(D)	The rate shown is the annualized seven-day yield as of 6-30-21.
(E)	Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending.

Small Cap Value Trust

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS - 97.0%
Consumer discretionary - 5.4%
Kontoor Brands, Inc.	147,785	$	8,336,552	1.5%
Tri Pointe Homes, Inc. (A)	306,021		6,558,030	1.2%
OTHER SECURITIES			15,344,755	2.7%
			30,239,337
Consumer staples - 5.8%
Cranswick PLC	128,148		7,050,109	1.3%
Hostess Brands, Inc. (A)	412,515		6,678,618	1.2%
Spectrum Brands Holdings, Inc.	151,091		12,848,777	2.3%
OTHER SECURITIES			5,884,698	1.0%
			32,462,202
Energy - 3.5%
Dorian LPG, Ltd. (A)	443,042		6,255,753	1.1%
Magnolia Oil & Gas Corp., Class A (A)	569,355		8,899,019	1.6%
OTHER SECURITIES			4,635,307	0.8%
			19,790,079
Financials - 23.4%
Atlantic Union Bankshares Corp.	202,988		7,352,225	1.3%
Banc of California, Inc.	492,023		8,630,083	1.5%
First Busey Corp.	242,765		5,986,585	1.1%
First Midwest Bancorp, Inc.	418,814		8,305,082	1.5%
Flushing Financial Corp.	305,069		6,537,629	1.2%
Great Western Bancorp, Inc.	265,433		8,703,548	1.5%
Hancock Whitney Corp.	178,260		7,921,874	1.4%
International Bancshares Corp.	200,012		8,588,515	1.5%
Kemper Corp.	133,841		9,890,850	1.8%
Synovus Financial Corp.	202,575		8,888,991	1.6%
White Mountains Insurance Group, Ltd.	6,589		7,564,370	1.3%
OTHER SECURITIES			43,446,191	7.7%
			131,815,943

Small Cap Value Trust (continued)

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS (continued)
Health care - 7.1%
Allscripts Healthcare Solutions, Inc. (A)	492,349	$	9,113,380	1.6%
Lantheus Holdings, Inc. (A)	461,759		12,763,019	2.3%
OTHER SECURITIES			17,896,411	3.2%
			39,772,810
Industrials - 24.2%
ACCO Brands Corp.	752,178		6,491,296	1.2%
American Woodmark Corp. (A)	88,101		7,196,971	1.3%
CBIZ, Inc. (A)	253,716		8,314,273	1.5%
Forrester Research, Inc. (A)	127,906		5,858,095	1.0%
GATX Corp.	67,629		5,983,138	1.1%
Hexcel Corp. (A)	111,193		6,938,443	1.2%
Huron Consulting Group, Inc. (A)	162,893		8,006,191	1.4%
ICF International, Inc.	79,357		6,972,306	1.2%
Luxfer Holdings PLC	389,027		8,655,851	1.5%
Mueller Industries, Inc.	152,806		6,618,028	1.2%
Primoris Services Corp.	220,376		6,485,666	1.2%
Science Applications International Corp.	81,961		7,190,439	1.3%
SP Plus Corp. (A)	190,175		5,817,453	1.0%
TriMas Corp. (A)	361,013		10,949,524	1.9%
Tyman PLC	1,942,876		12,088,196	2.1%
OTHER SECURITIES			22,528,606	4.1%
			136,094,476
Information technology - 7.4%
Belden, Inc.	198,423		10,034,251	1.8%
CTS Corp.	222,291		8,260,334	1.5%
WNS Holdings, Ltd., ADR (A)	84,309		6,733,760	1.2%
OTHER SECURITIES			16,790,916	2.9%
			41,819,261
Materials - 7.1%
Element Solutions, Inc.	488,438		11,419,680	2.0%
Neenah, Inc.	171,520		8,605,158	1.5%
Orion Engineered Carbons SA (A)	392,396		7,451,600	1.3%
OTHER SECURITIES			12,551,133	2.3%
			40,027,571
Real estate - 9.2%
Alexander & Baldwin, Inc.	403,352		7,389,409	1.3%
Brandywine Realty Trust	526,183		7,213,969	1.3%
Physicians Realty Trust	397,439		7,340,698	1.3%
Piedmont Office Realty Trust, Inc., Class A	391,413		7,229,398	1.3%
RPT Realty	759,532		9,858,725	1.8%
OTHER SECURITIES			12,826,942	2.2%
			51,859,141
Utilities - 3.9%
New Jersey Resources Corp.	140,167		5,546,408	1.0%
Portland General Electric Company	196,017		9,032,463	1.6%
Spire, Inc.	86,620		6,260,027	1.1%
OTHER SECURITIES			1,143,116	0.2%
			21,982,014
TOTAL COMMON STOCKS (Cost $422,931,967)		$	545,862,834
SHORT-TERM INVESTMENTS - 2.8%
Short-term funds - 0.0%
John Hancock Collateral Trust, 0.0324% (B)(C)	21,812		218,223	0.0%

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Small Cap Value Trust (continued)

		Shares or Principal Amount	Value		% of Net Assets
SHORT-TERM INVESTMENTS (continued)
Repurchase agreement - 2.8%
Bank of America Tri-Party Repurchase Agreement dated 6-30-21 at 0.050% to be repurchased at $15,700,022 on 7-1-21, collateralized by $14,180,158 Government National Mortgage Association, 1.967% - 1.993% due 5-20-71 (valued at $16,014,001)	$	15,700,000	$	15,700,000	2.8%
TOTAL SHORT-TERM INVESTMENTS (Cost $15,918,225)			$	15,918,223
Total Investments (Small Cap Value Trust) (Cost $438,850,192) - 99.8%			$	561,781,057	99.8%
Other assets and liabilities, net - 0.2%				1,029,721	0.2%
TOTAL NET ASSETS - 100.0%			$	562,810,778	100.0%

Security Abbreviations and Legend
ADR	American Depositary Receipt
(A)	Non-income producing security.
(B)	The rate shown is the annualized seven-day yield as of 6-30-21.
(C)	Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending.

Small Company Value Trust

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS - 98.0%
Communication services - 2.4%
Cable One, Inc.	654	$	1,250,978	0.7%
OTHER SECURITIES			2,933,340	1.7%
			4,184,318
Consumer discretionary - 10.7%
Cavco Industries, Inc. (A)	6,012		1,335,806	0.8%
Steven Madden, Ltd.	31,261		1,367,981	0.8%
Strategic Education, Inc.	19,551		1,487,049	0.9%
OTHER SECURITIES			14,434,986	8.2%
			18,625,822
Consumer staples - 3.0%
Nomad Foods, Ltd. (A)	61,213		1,730,492	1.0%
OTHER SECURITIES			3,448,474	2.0%
			5,178,966
Energy - 6.5%
Cactus, Inc., Class A	37,198		1,365,911	0.8%
ChampionX Corp. (A)	77,190		1,979,924	1.1%
Devon Energy Corp.	62,250		1,817,078	1.1%
Liberty Oilfield Services, Inc., Class A (A)	90,520		1,281,763	0.7%
Magnolia Oil & Gas Corp., Class A (A)	89,023		1,391,429	0.8%
Matador Resources Company	59,231		2,132,908	1.2%
OTHER SECURITIES			1,313,912	0.8%
			11,282,925
Financials - 25.9%
BankUnited, Inc.	45,717		1,951,659	1.1%
Columbia Banking System, Inc.	31,504		1,214,794	0.7%
FB Financial Corp.	31,472		1,174,535	0.7%
Glacier Bancorp, Inc.	23,492		1,293,939	0.7%

Small Company Value Trust (continued)

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS (continued)
Financials (continued)
Hannon Armstrong Sustainable Infrastructure Capital, Inc.	32,136	$	1,804,436	1.0%
Home BancShares, Inc.	86,792		2,142,027	1.2%
Houlihan Lokey, Inc.	16,188		1,324,017	0.8%
Live Oak Bancshares, Inc.	27,716		1,635,244	0.9%
Pinnacle Financial Partners, Inc.	26,864		2,371,823	1.4%
Popular, Inc.	17,442		1,309,022	0.8%
Radian Group, Inc.	55,530		1,235,543	0.7%
Towne Bank	45,524		1,384,840	0.8%
Virtus Investment Partners, Inc.	5,614		1,559,401	0.9%
Webster Financial Corp.	23,812		1,270,132	0.7%
Western Alliance Bancorp	30,009		2,786,336	1.6%
WSFS Financial Corp.	40,732		1,897,704	1.1%
OTHER SECURITIES			18,736,025	10.8%
			45,091,477
Health care - 8.3%
Select Medical Holdings Corp.	49,408		2,087,982	1.2%
OTHER SECURITIES			12,411,225	7.1%
			14,499,207
Industrials - 16.1%
Beacon Roofing Supply, Inc. (A)	28,167		1,499,893	0.9%
ESCO Technologies, Inc.	12,951		1,214,933	0.7%
Helios Technologies, Inc.	19,112		1,491,692	0.9%
Korn Ferry	18,659		1,353,710	0.8%
Landstar System, Inc.	7,313		1,155,600	0.7%
Stericycle, Inc. (A)	17,525		1,253,914	0.7%
Triumph Group, Inc. (A)	81,330		1,687,598	1.0%
UFP Industries, Inc.	29,337		2,180,913	1.3%
OTHER SECURITIES			16,122,423	9.1%
			27,960,676
Information technology - 6.7%
Belden, Inc.	40,895		2,068,055	1.2%
Harmonic, Inc. (A)	174,042		1,482,838	0.8%
Littelfuse, Inc.	9,089		2,315,786	1.3%
OTHER SECURITIES			5,837,642	3.4%
			11,704,321
Materials - 5.7%
Constellium SE (A)	89,510		1,696,215	1.0%
OTHER SECURITIES			8,110,874	4.7%
			9,807,089
Real estate - 8.7%
EastGroup Properties, Inc.	8,500		1,397,825	0.8%
JBG SMITH Properties	40,454		1,274,706	0.7%
PotlatchDeltic Corp.	24,450		1,299,518	0.7%
Saul Centers, Inc.	25,254		1,147,794	0.7%
Sunstone Hotel Investors, Inc. (A)	124,867		1,550,848	0.9%
Terreno Realty Corp.	27,065		1,746,234	1.0%
The St. Joe Company	36,936		1,647,715	0.9%
OTHER SECURITIES			5,130,058	3.0%
			15,194,698
Utilities - 4.0%
Chesapeake Utilities Corp.	16,647		2,003,134	1.2%
ONE Gas, Inc.	16,378		1,213,937	0.7%
OTHER SECURITIES			3,647,536	2.1%
			6,864,607
TOTAL COMMON STOCKS (Cost $116,400,499)		$	170,394,106
WARRANTS - 0.0%			11,710	0.0%
TOTAL WARRANTS (Cost $6,099)		$	11,710

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Small Company Value Trust (continued)

	Shares or Principal Amount	Value		% of Net Assets
SHORT-TERM INVESTMENTS - 2.3%
Short-term funds - 2.3%
John Hancock Collateral Trust, 0.0324% (B)(C)	51,594	$	516,177	0.3%
T. Rowe Price Government Reserve Fund, 0.0295% (B)	2,985,047		2,985,047	1.7%
OTHER SECURITIES			500,063	0.3%
			4,001,287
TOTAL SHORT-TERM INVESTMENTS (Cost $4,001,292)		$	4,001,287
Total Investments (Small Company Value Trust) (Cost $120,407,890) - 100.3%		$	174,407,103	100.3%
Other assets and liabilities, net - (0.3)%			(588,980)	(0.3)%
TOTAL NET ASSETS - 100.0%		$	173,818,123	100.0%

Security Abbreviations and Legend
(A)	Non-income producing security.
(B)	The rate shown is the annualized seven-day yield as of 6-30-21.
(C)	Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending.

Strategic Equity Allocation Trust

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS - 94.8%
Communication services - 7.7%
Alphabet, Inc., Class A (A)	40,860	$	99,771,539	1.1%
Alphabet, Inc., Class C (A)	38,687		96,962,002	1.1%
AT&T, Inc.	970,059		27,918,298	0.3%
Comcast Corp., Class A	622,909		35,518,271	0.4%
Facebook, Inc., Class A (A)	325,533		113,191,079	1.2%
Netflix, Inc. (A)	60,242		31,820,427	0.4%
The Walt Disney Company (A)	246,853		43,389,352	0.5%
Verizon Communications, Inc.	562,480		31,515,754	0.4%
OTHER SECURITIES			234,461,545	2.3%
			714,548,267
Consumer discretionary - 11.9%
Amazon.com, Inc. (A)	58,241		200,358,359	2.2%
LVMH Moet Hennessy Louis Vuitton SE	45,154		35,520,700	0.4%
NIKE, Inc., Class B	173,219		26,760,603	0.3%
Tesla, Inc. (A)	104,704		71,167,309	0.8%
The Home Depot, Inc.	144,457		46,065,893	0.5%
Toyota Motor Corp.	345,000		30,157,842	0.3%
OTHER SECURITIES			700,712,441	7.4%
			1,110,743,147
Consumer staples - 6.6%
Nestle SA	468,594		58,408,863	0.6%
PepsiCo, Inc.	187,712		27,813,287	0.3%
The Coca-Cola Company	527,216		28,527,658	0.3%
The Procter & Gamble Company	332,623		44,880,821	0.5%
Walmart, Inc.	186,546		26,306,717	0.3%
OTHER SECURITIES			430,483,549	4.6%
			616,420,895
Energy - 2.9%
Chevron Corp.	262,590		27,503,677	0.3%
Exxon Mobil Corp.	575,180		36,282,354	0.4%
Royal Dutch Shell PLC, A Shares	667,069		13,373,310	0.2%

Strategic Equity Allocation Trust (continued)

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS (continued)
Energy (continued)
Royal Dutch Shell PLC, B Shares	602,809	$	11,702,201	0.1%
OTHER SECURITIES			176,245,527	1.9%
			265,107,069
Financials - 12.8%
Bank of America Corp.	1,024,540		42,241,784	0.5%
Berkshire Hathaway, Inc., Class B (A)	257,508		71,566,623	0.8%
JPMorgan Chase & Co.	411,273		63,969,402	0.7%
Wells Fargo & Company	561,597		25,434,728	0.3%
OTHER SECURITIES			992,637,542	10.5%
			1,195,850,079
Health care - 12.4%
Abbott Laboratories	241,403		27,985,850	0.3%
AbbVie, Inc.	239,963		27,029,432	0.3%
AstraZeneca PLC	213,510		25,651,972	0.3%
Johnson & Johnson	357,780		58,940,677	0.7%
Merck & Company, Inc.	344,012		26,753,813	0.3%
Novartis AG	361,140		32,945,552	0.4%
Pfizer, Inc.	760,517		29,781,846	0.3%
Roche Holding AG	114,271		43,061,636	0.5%
Roche Holding AG, Bearer Shares	5,205		2,116,875	0.0%
Thermo Fisher Scientific, Inc.	53,398		26,937,689	0.3%
UnitedHealth Group, Inc.	128,214		51,342,014	0.6%
OTHER SECURITIES			804,343,611	8.4%
			1,156,890,967
Industrials - 11.1%			1,036,815,210	11.1%
Information technology - 19.0%
Accenture PLC, Class A	86,361		25,458,359	0.3%
Adobe, Inc. (A)	64,942		38,032,633	0.4%
Apple, Inc.	2,131,190		291,887,782	3.2%
ASML Holding NV	68,231		47,101,175	0.5%
Broadcom, Inc.	55,473		26,451,745	0.3%
Cisco Systems, Inc.	572,553		30,345,309	0.3%
Intel Corp.	548,613		30,799,134	0.3%
Mastercard, Inc., Class A	118,851		43,391,312	0.5%
Microsoft Corp.	1,023,259		277,200,863	3.0%
NVIDIA Corp.	84,642		67,722,064	0.7%
PayPal Holdings, Inc. (A)	159,602		46,520,791	0.5%
salesforce.com, Inc. (A)	125,809		30,731,364	0.3%
Visa, Inc., Class A	229,853		53,744,228	0.6%
OTHER SECURITIES			756,989,896	8.1%
			1,766,376,655
Materials - 4.4%			406,073,292	4.4%
Real estate - 3.3%			307,219,805	3.3%
Utilities - 2.7%			248,209,746	2.7%
TOTAL COMMON STOCKS (Cost $4,317,023,094)		$	8,824,255,132
PREFERRED SECURITIES - 0.2%
Consumer discretionary - 0.1%			11,074,129	0.1%
Consumer staples - 0.1%			3,060,375	0.1%
Health care - 0.0%			2,218,925	0.0%
Materials - 0.0%			550,102	0.0%
TOTAL PREFERRED SECURITIES (Cost $9,941,317)		$	16,903,531
RIGHTS - 0.0%			99,495	0.0%
TOTAL RIGHTS (Cost $73,641)		$	99,495
WARRANTS - 0.0%			147,509	0.0%
TOTAL WARRANTS (Cost $15,655)		$	147,509

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Strategic Equity Allocation Trust (continued)

		Shares or Principal Amount	Value		% of Net Assets
SHORT-TERM INVESTMENTS - 4.8%
U.S. Government - 1.7%
U.S. Treasury Bill, 0.040%, 08/03/2021 *	$	136,000,000	$	135,994,166	1.5%
OTHER SECURITIES				17,798,054	0.2%
				153,792,220
U.S. Government Agency - 2.4%
Federal Home Loan Bank Discount Note, 0.008%, 08/27/2021 *		11,000,000		10,999,303	0.1%
Federal Home Loan Bank Discount Note, 0.009%, 07/30/2021 *		5,700,000		5,699,862	0.1%
Federal Home Loan Bank Discount Note, 0.015%, 07/09/2021 *		4,300,000		4,299,971	0.0%
Federal Home Loan Bank Discount Note, 0.015%, 08/27/2021 *		13,000,000		12,999,177	0.1%
Federal Home Loan Bank Discount Note, 0.020%, 07/16/2021 *		4,700,000		4,699,941	0.0%
Federal Home Loan Bank Discount Note, 0.020%, 09/03/2021 *		100,000,000		99,991,111	1.1%
Federal Home Loan Bank Discount Note, 0.035%, 08/25/2021 *		7,000,000		6,999,572	0.1%

Strategic Equity Allocation Trust (continued)

		Shares or Principal Amount	Value		% of Net Assets
SHORT-TERM INVESTMENTS (continued)
U.S. Government Agency (continued)
Federal Home Loan Bank Discount Note, 0.040%, 07/27/2021 *	$	80,000,000	$	79,998,266	0.9%
				225,687,203
Short-term funds - 0.5%
John Hancock Collateral Trust, 0.0324% (B)(C)		4,731,904		47,340,809	0.5%
Repurchase agreement - 0.2%				20,230,000	0.2%
TOTAL SHORT-TERM INVESTMENTS (Cost $447,059,167)			$	447,050,232
Total Investments (Strategic Equity Allocation Trust) (Cost $4,774,112,874) - 99.8%			$	9,288,455,899	99.8%
Other assets and liabilities, net - 0.2%				22,565,222	0.2%
TOTAL NET ASSETS - 100.0%			$	9,311,021,121	100.0%

Security Abbreviations and Legend
(A)	Non-income producing security.
(B)	The rate shown is the annualized seven-day yield as of 6-30-21.
(C)	Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending.
*	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.

DERIVATIVES

FUTURES

Open contracts	Number of contracts	Position	Expiration date	Notional basis^	Notional value^	Unrealized appreciation (depreciation)
MSCI EAFE Index Futures	1,727	Long	Sep 2021	$202,574,804	$198,959,035	$(3,615,769)
Russell 2000 E-Mini Index Futures	215	Long	Sep 2021	24,789,411	24,808,850	19,439
S&P 500 Index E-Mini Futures	976	Long	Sep 2021	204,663,158	209,283,680	4,620,522
S&P Mid 400 Index E-Mini Futures	105	Long	Sep 2021	28,618,181	28,270,200	(347,981)
						$676,211

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

See Notes to financial statements regarding investment transactions and other derivatives information.

Total Stock Market Index Trust

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS - 96.6%
Communication services - 10.7%
Alphabet, Inc., Class C (A)	12,262	$	30,732,487	3.4%
AT&T, Inc.	130,688		3,761,201	0.4%
Comcast Corp., Class A	84,640		4,826,173	0.5%
Facebook, Inc., Class A (A)	51,931		18,056,928	2.0%
Netflix, Inc. (A)	8,118		4,288,009	0.5%
The Walt Disney Company (A)	33,435		5,876,870	0.7%
T-Mobile US, Inc. (A)	23,046		3,337,752	0.4%
Verizon Communications, Inc.	75,245		4,215,977	0.5%
OTHER SECURITIES			21,918,386	2.3%
			97,013,783
Consumer discretionary - 12.4%
Amazon.com, Inc. (A)	9,239		31,783,638	3.5%
NIKE, Inc., Class B	28,917		4,467,387	0.5%

Total Stock Market Index Trust (continued)

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS (continued)
Consumer discretionary (continued)
Tesla, Inc. (A)	17,704	$	12,033,409	1.3%
The Home Depot, Inc.	19,456		6,204,324	0.7%
OTHER SECURITIES			57,982,085	6.4%
			112,470,843
Consumer staples - 5.6%
Costco Wholesale Corp.	8,015		3,171,295	0.4%
PepsiCo, Inc.	25,092		3,717,882	0.4%
The Coca-Cola Company	78,888		4,268,630	0.5%
The Procter & Gamble Company	44,679		6,028,537	0.7%
Walmart, Inc.	51,237		7,225,442	0.8%
OTHER SECURITIES			27,002,581	2.8%
			51,414,367

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Total Stock Market Index Trust (continued)

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS (continued)
Energy - 3.0%
Chevron Corp.	35,846	$	3,754,510	0.4%
Exxon Mobil Corp.	78,073		4,924,845	0.6%
OTHER SECURITIES			18,667,988	2.0%
			27,347,343
Financials - 11.1%
Bank of America Corp.	157,031		6,474,388	0.7%
Berkshire Hathaway, Inc., Class B (A)	41,557		11,549,521	1.3%
JPMorgan Chase & Co.	55,188		8,583,942	1.0%
Morgan Stanley	34,141		3,130,388	0.4%
State Street Corp.	6,290		517,541	0.1%
Wells Fargo & Company	75,236		3,407,438	0.4%
OTHER SECURITIES			67,074,088	7.2%
			100,737,306
Health care - 12.4%
Abbott Laboratories	32,646		3,784,651	0.4%
AbbVie, Inc.	32,840		3,699,098	0.4%
Danaher Corp.	12,992		3,486,533	0.4%
Eli Lilly & Company	17,620		4,044,142	0.5%
Johnson & Johnson	48,087		7,921,852	0.9%
Merck & Company, Inc.	46,028		3,579,598	0.4%
Pfizer, Inc.	102,379		4,009,162	0.5%
Thermo Fisher Scientific, Inc.	7,126		3,594,853	0.4%
UnitedHealth Group, Inc.	17,336		6,942,028	0.8%
OTHER SECURITIES			72,058,324	7.7%
			113,120,241
Industrials - 8.7%
United Parcel Service, Inc., Class B	16,108		3,349,981	0.4%
OTHER SECURITIES			75,451,176	8.3%
			78,801,157
Information technology - 25.2%
Adobe, Inc. (A)	8,784		5,144,262	0.6%
Apple, Inc.	305,741		41,874,287	4.6%
Broadcom, Inc.	7,470		3,561,995	0.4%
Cisco Systems, Inc.	76,920		4,076,760	0.5%
Intel Corp.	73,458		4,123,932	0.5%
Mastercard, Inc., Class A	18,201		6,645,003	0.7%
Microsoft Corp.	137,927		37,364,424	4.1%
NVIDIA Corp.	11,439		9,152,344	1.0%
Oracle Corp.	52,513		4,087,612	0.5%
PayPal Holdings, Inc. (A)	21,633		6,305,587	0.7%
salesforce.com, Inc. (A)	17,153		4,189,963	0.5%
Texas Instruments, Inc.	16,691		3,209,679	0.4%
Visa, Inc., Class A	35,691		8,345,270	0.9%
OTHER SECURITIES			90,764,142	9.8%
			228,845,260
Materials - 2.3%			20,852,238	2.3%
Real estate - 3.1%			28,110,783	3.1%
Utilities - 2.1%			19,365,093	2.1%
TOTAL COMMON STOCKS (Cost $333,173,911)		$	878,078,414
PREFERRED SECURITIES - 0.0%
Consumer discretionary - 0.0%			28,145	0.0%

Total Stock Market Index Trust (continued)

		Shares or Principal Amount	Value		% of Net Assets
PREFERRED SECURITIES (continued)
Energy - 0.0%			$	2,652	0.0%
Industrials - 0.0%				11,929	0.0%
TOTAL PREFERRED SECURITIES (Cost $84,689)			$	42,726
CORPORATE BONDS - 0.0%
Financials - 0.0%				886	0.0%
TOTAL CORPORATE BONDS (Cost $886)			$	886
RIGHTS - 0.0%				6,147	0.0%
TOTAL RIGHTS (Cost $6,508)			$	6,147
WARRANTS - 0.0%				3,323	0.0%
TOTAL WARRANTS (Cost $139,061)			$	3,323
SHORT-TERM INVESTMENTS - 4.3%
U.S. Government - 0.5%
U.S. Treasury Bill, 0.023%, 09/09/2021 *	$	5,000,000		4,999,538	0.5%
U.S. Government Agency - 1.7%
Federal Home Loan Bank Discount Note, 0.011%, 08/06/2021 *		3,000,000		2,999,880	0.4%
Federal Home Loan Bank Discount Note, 0.035%, 08/25/2021 *		12,000,000		11,999,267	1.3%
				14,999,147
Short-term funds - 1.0%
John Hancock Collateral Trust, 0.0324% (B)(C)		922,812		9,232,360	1.0%
Repurchase agreement - 1.1%
Repurchase Agreement with State Street Corp. dated 6-30-21 at 0.000% to be repurchased at $9,597,000 on 7-1-21, collateralized by $10,114,800 U.S. Treasury Notes, 0.500% due 5-31-27 (valued at $9,789,031)	$	9,597,000		9,597,000	1.1%
TOTAL SHORT-TERM INVESTMENTS (Cost $38,828,673)			$	38,828,045
Total Investments (Total Stock Market Index Trust) (Cost $372,233,728) - 100.9%			$	916,959,541	100.9%
Other assets and liabilities, net - (0.9)%				(8,502,794)	(0.9)%
TOTAL NET ASSETS - 100.0%			$	908,456,747	100.0%

Security Abbreviations and Legend
(A)	Non-income producing security.
(B)	The rate shown is the annualized seven-day yield as of 6-30-21.
(C)	Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending.
*	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.

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Total Stock Market Index Trust (continued)

DERIVATIVES

FUTURES

Open contracts	Number of contracts	Position	Expiration date	Notional basis^	Notional value^	Unrealized appreciation (depreciation)
Russell 2000 E-Mini Index Futures	46	Long	Sep 2021	$5,286,243	$5,307,940	$21,697
S&P 500 Index E-Mini Futures	124	Long	Sep 2021	26,254,712	26,589,320	334,608
						$356,305

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

See Notes to financial statements regarding investment transactions and other derivatives information.

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

The following portfolios had the following country composition as a percentage of net assets on 6-30-21:

Capital Appreciation Trust

United States	83.4%
Canada	5.9%
France	4.4%
Netherlands	1.8%
Taiwan	1.7%
Sweden	1.1%
Other countries	1.7%
TOTAL	100.0%

Financial Industries Trust

United States	86.1%
Canada	4.6%
United Kingdom	2.7%
Switzerland	1.4%
Spain	1.0%
France	1.0%
Denmark	1.0%
Other countries	2.2%
TOTAL	100.0%

Health Sciences Trust

United States	87.4%
Germany	3.2%
United Kingdom	2.0%
Switzerland	1.8%
Netherlands	1.6%
China	1.3%
Denmark	1.0%
Other countries	1.7%
TOTAL	100.0%

Mid Value Trust

United States	81.0%
Canada	7.4%
United Kingdom	2.3%
Ireland	1.9%
Belgium	1.3%
Germany	1.0%
Other countries	5.1%
TOTAL	100.0%

Science & Technology Trust

United States	77.6%
China	6.5%
Germany	5.1%
South Korea	3.8%
Russia	1.2%
United Kingdom	1.0%
Other countries	4.8%
TOTAL	100.0%

Strategic Equity Allocation Trust

United States	68.7%
Japan	6.9%
United Kingdom	4.2%
France	3.3%
Switzerland	3.2%
Germany	2.8%
Australia	2.2%
Netherlands	1.8%
Ireland	1.1%
Sweden	1.0%
Other countries	4.8%
TOTAL	100.0%

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

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John Hancock Variable Insurance Trust

Statements of assets and liabilities — June 30, 2021 (unaudited)

Assets	500 Index Trust	American Asset Allocation Trust	American Global Growth Trust	American Growth Trust
Unaffiliated investments, at value (including securities loaned)	$7,722,481,885	$1,438,751,803	$253,080,024	$1,095,023,124
Affiliated investments, at value	1,036,455	—	—	—
Repurchase agreements, at value	9,525,000	—	—	—
Total investments, at value	7,733,043,340	1,438,751,803	253,080,024	1,095,023,124
Receivable for futures variation margin	309,234	—	—	—
Cash	6,730	—	—	—
Collateral held at broker for futures contracts	10,406,000	—	—	—
Dividends and interest receivable	4,358,056	—	—	—
Receivable for fund shares sold	5,240	—	993	5,820
Receivable for investments sold	—	957,967	2,136,417	12,947,169
Receivable for securities lending income	875	—	—	—
Receivable from affiliates	68,319	—	—	—
Other assets	157,904	30,955	8,113	23,525
Total assets	7,748,355,698	1,439,740,725	255,225,547	1,107,999,638
Liabilities
Due to custodian	—	1,052	167	693
Payable for fund shares repurchased	13,842,446	933,578	2,133,263	12,934,844
Payable upon return of securities loaned	1,036,485	—	—	—
Payable to affiliates
Accounting and legal services fees	316,573	60,107	10,273	43,387
Other liabilities and accrued expenses	666,613	37,477	25,554	33,194
Total liabilities	15,862,117	1,032,214	2,169,257	13,012,118
Net assets	$7,732,493,581	$1,438,708,511	$253,056,290	$1,094,987,520
Net assets consist of
Paid-in capital	$2,578,521,625	$861,944,383	$131,480,499	$466,654,075
Total distributable earnings (loss)	5,153,971,956	576,764,128	121,575,791	628,333,445
Net assets	$7,732,493,581	$1,438,708,511	$253,056,290	$1,094,987,520
Unaffiliated investments, including repurchase agreements, at cost	$2,984,716,046	$1,011,849,344	$164,531,438	$710,267,808
Affiliated investments, at cost	$1,036,486	—	—	—
Securities loaned, at value	$1,016,056	—	—	—
Net asset value per share
The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class.
Series I
Net assets	$4,912,173,287	$363,766,094	$45,056,185	$242,545,856
Shares outstanding	99,098,236	26,997,532	2,047,721	9,233,370
Net asset value, offering price and redemption price per share	$49.57	$13.47	$22.00	$26.27
Series II
Net assets	$90,157,078	$944,747,649	$174,885,553	$746,571,971
Shares outstanding	1,819,883	70,142,234	7,985,349	28,726,672
Net asset value, offering price and redemption price per share	$49.54	$13.47	$21.90	$25.99
Series III
Net assets	—	$130,194,768	$33,114,552	$105,869,693
Shares outstanding	—	9,638,860	1,502,278	4,043,903
Net asset value, offering price and redemption price per share	—	$13.51	$22.04	$26.18
Series NAV
Net assets	$2,730,163,216	—	—	—
Shares outstanding	55,068,544	—	—	—
Net asset value, offering price and redemption price per share	$49.58	—	—	—

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

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John Hancock Variable Insurance Trust

Statements of assets and liabilities — June 30, 2021 (unaudited)

Assets	American Growth-Income Trust	American International Trust	Blue Chip Growth Trust	Capital Appreciation Trust
Unaffiliated investments, at value (including securities loaned)	$1,082,280,216	$512,423,975	$2,458,720,238	$766,814,164
Affiliated investments, at value	—	—	6,157,780	—
Total investments, at value	1,082,280,216	512,423,975	2,464,878,018	766,814,164
Dividends and interest receivable	—	—	169,423	140,773
Receivable for fund shares sold	—	—	—	37,239
Receivable for investments sold	7,969,847	704,225	3,802,519	783,005
Receivable for securities lending income	—	—	5,710	1,838
Other assets	23,465	13,413	57,421	22,566
Total assets	1,090,273,528	513,141,613	2,468,913,091	767,799,585
Liabilities
Due to custodian	760	367	—	—
Payable for investments purchased	—	—	2,075,490	207,629
Payable for fund shares repurchased	7,953,094	695,166	1,563,727	552,560
Payable upon return of securities loaned	—	—	6,158,223	—
Payable to affiliates
Accounting and legal services fees	44,796	20,764	96,863	28,247
Other liabilities and accrued expenses	33,384	27,974	269,229	101,494
Total liabilities	8,032,034	744,271	10,163,532	889,930
Net assets	$1,082,241,494	$512,397,342	$2,458,749,559	$766,909,655
Net assets consist of
Paid-in capital	$724,768,326	$388,817,541	$769,663,189	$283,033,443
Total distributable earnings (loss)	357,473,168	123,579,801	1,689,086,370	483,876,212
Net assets	$1,082,241,494	$512,397,342	$2,458,749,559	$766,909,655
Unaffiliated investments, including repurchase agreements, at cost	$806,832,320	$386,433,398	$1,294,417,799	$489,620,749
Affiliated investments, at cost	—	—	$6,158,023	—
Securities loaned, at value	—	—	$6,028,963	—
Net asset value per share
The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class.
Series I
Net assets	$325,207,537	$161,924,813	$404,511,099	$274,030,916
Shares outstanding	17,984,126	7,243,483	8,950,102	32,759,147
Net asset value, offering price and redemption price per share	$18.08	$22.35	$45.20	$8.37
Series II
Net assets	$541,662,983	$312,810,561	$152,715,224	$88,533,424
Shares outstanding	30,121,772	14,015,446	3,534,749	12,249,426
Net asset value, offering price and redemption price per share	$17.98	$22.32	$43.20	$7.23
Series III
Net assets	$215,370,974	$37,661,968	—	—
Shares outstanding	11,917,137	1,687,891	—	—
Net asset value, offering price and redemption price per share	$18.07	$22.31	—	—
Series NAV
Net assets	—	—	$1,901,523,236	$404,345,315
Shares outstanding	—	—	42,003,304	47,957,658
Net asset value, offering price and redemption price per share	—	—	$45.27	$8.43

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

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John Hancock Variable Insurance Trust

Statements of assets and liabilities — June 30, 2021 (unaudited)

Assets	Capital Appreciation Value Trust	Disciplined Value International Trust	Emerging Markets Value Trust	Equity Income Trust
Unaffiliated investments, at value (including securities loaned)	$481,344,869	$319,717,517	$263,096,440	$1,662,371,416
Affiliated investments, at value	—	9,544,085	2,547,070	6,631,528
Repurchase agreements, at value	3,649,000	—	—	—
Total investments, at value	484,993,869	329,261,602	265,643,510	1,669,002,944
Cash	849	—	1,533,055	—
Foreign currency, at value	—	901,726	1,439,548	—
Collateral held at broker for futures contracts	—	—	128,790	—
Dividends and interest receivable	676,849	1,282,042	1,528,184	2,537,999
Receivable for fund shares sold	9,721	1,312,199	144,893	—
Receivable for investments sold	547,612	942	626,651	—
Receivable for securities lending income	—	4,238	—	1,865
Interfund lending receivable	3,780	—	—	—
Other assets	13,884	13,321	11,034	47,623
Total assets	486,246,564	332,776,070	271,055,665	1,671,590,431
Liabilities
Written options, at value	6,141,041	—	—	—
Payable for futures variation margin	—	—	14,700	—
Foreign capital gains tax payable	—	—	13,502	—
Payable for investments purchased	3,532,208	286,607	733,164	3,520,457
Payable for fund shares repurchased	124,651	148,056	90,921	330,232
Payable upon return of securities loaned	—	9,544,107	2,539,215	6,669,672
Payable to affiliates
Accounting and legal services fees	19,809	13,659	10,823	71,349
Trustees' fees	—	275	219	—
Other liabilities and accrued expenses	84,141	31,566	61,232	179,715
Total liabilities	9,901,850	10,024,270	3,463,776	10,771,425
Net assets	$476,344,714	$322,751,800	$267,591,889	$1,660,819,006
Net assets consist of
Paid-in capital	$308,291,397	$290,283,609	$274,632,682	$1,083,527,375
Total distributable earnings (loss)	168,053,317	32,468,191	(7,040,793)	577,291,631
Net assets	$476,344,714	$322,751,800	$267,591,889	$1,660,819,006
Unaffiliated investments, including repurchase agreements, at cost	$400,299,749	$278,310,365	$226,151,767	$1,223,453,812
Affiliated investments, at cost	—	$9,544,213	$2,547,135	$6,631,740
Foreign currency, at cost	—	$907,642	$1,442,484	—
Premiums received on written options	$3,823,947	—	—	—
Securities loaned, at value	—	$11,428,106	$4,868,824	$6,533,050
Net asset value per share
The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class.
Series I
Net assets	$10,067,619	$81,097,422	$7,026,380	$254,745,899
Shares outstanding	684,707	5,558,514	625,815	15,615,777
Net asset value, offering price and redemption price per share	$14.70	$14.59	$11.23	$16.31
Series II
Net assets	$284,476,383	$47,661,755	$35,746,314	$134,158,891
Shares outstanding	19,471,232	3,273,002	3,186,339	8,284,980
Net asset value, offering price and redemption price per share	$14.61	$14.56	$11.22	$16.19
Series NAV
Net assets	$181,800,712	$193,992,623	$224,819,195	$1,271,914,216
Shares outstanding	12,398,025	13,406,389	20,052,252	78,458,951
Net asset value, offering price and redemption price per share	$14.66	$14.47	$11.21	$16.21

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

Table of Contents

John Hancock Variable Insurance Trust

Statements of assets and liabilities — June 30, 2021 (unaudited)

Assets	Financial Industries Trust	Fundamental All Cap Core Trust	Fundamental Large Cap Value Trust	Global Equity Trust
Unaffiliated investments, at value (including securities loaned)	$167,786,372	$2,493,080,567	$787,914,762	$354,059,496
Repurchase agreements, at value	2,751,000	35,082,000	22,470,000	—
Total investments, at value	170,537,372	2,528,162,567	810,384,762	354,059,496
Unrealized appreciation on forward foreign currency contracts	—	—	—	280,865
Cash	9,622	450	52	—
Foreign currency, at value	55	28	—	167,840
Collateral segregated at custodian for OTC derivative contracts	—	—	—	490,000
Dividends and interest receivable	264,266	307,652	403,597	828,250
Receivable for fund shares sold	2,123	—	—	—
Receivable for investments sold	1,219,044	—	10,455,213	167,116
Other assets	6,996	54,037	20,322	14,947
Total assets	172,039,478	2,528,524,734	821,263,946	356,008,514
Liabilities
Unrealized depreciation on forward foreign currency contracts	—	—	—	319,180
Payable for investments purchased	1,228,109	—	11,841,726	166,462
Payable for fund shares repurchased	216,034	561,158	2,484,045	1,855,777
Payable to affiliates
Accounting and legal services fees	7,529	102,304	33,805	15,836
Trustees' fees	—	—	—	298
Other liabilities and accrued expenses	49,358	238,949	103,306	65,603
Total liabilities	1,501,030	902,411	14,462,882	2,423,156
Net assets	$170,538,448	$2,527,622,323	$806,801,064	$353,585,358
Net assets consist of
Paid-in capital	$117,911,057	$1,065,528,346	$410,693,936	$282,896,993
Total distributable earnings (loss)	52,627,391	1,462,093,977	396,107,128	70,688,365
Net assets	$170,538,448	$2,527,622,323	$806,801,064	$353,585,358
Unaffiliated investments, including repurchase agreements, at cost	$133,663,001	$1,343,138,443	$568,191,942	$284,713,300
Foreign currency, at cost	$55	$28	—	$167,848
Securities loaned, at value	—	—	—	—
Net asset value per share
The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class.
Series I
Net assets	$117,473,130	$132,075,764	$473,272,621	$276,603,041
Shares outstanding	7,766,201	3,647,679	15,442,890	11,707,613
Net asset value, offering price and redemption price per share	$15.13	$36.21	$30.65	$23.63
Series II
Net assets	$21,414,750	$58,671,806	$180,730,741	$28,970,519
Shares outstanding	1,430,934	1,627,152	5,860,362	1,233,327
Net asset value, offering price and redemption price per share	$14.97	$36.06	$30.84	$23.49
Series NAV
Net assets	$31,650,568	$2,336,874,753	$152,797,702	$48,011,798
Shares outstanding	2,099,577	64,118,084	4,982,557	2,034,265
Net asset value, offering price and redemption price per share	$15.07	$36.45	$30.67	$23.60

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

Table of Contents

John Hancock Variable Insurance Trust

Statements of assets and liabilities — June 30, 2021 (unaudited)

Assets	Health Sciences Trust	International Equity Index Trust	International Small Company Trust	Lifestyle Balanced Portfolio
Unaffiliated investments, at value (including securities loaned)	$338,573,904	$925,306,079	$127,332,665	—
Affiliated investments, at value	—	8,675,544	1,975,132	$1,200,909,418
Total investments, at value	338,573,904	933,981,623	129,307,797	1,200,909,418
Cash	—	16,704	1,088,791	—
Foreign currency, at value	4,716	11,658,868	232,162	—
Collateral held at broker for futures contracts	—	1,593,586	50,456	—
Dividends and interest receivable	226,046	3,137,417	500,611	—
Receivable for fund shares sold	342,059	239,609	39	391,646
Receivable for investments sold	783,841	—	39,371	—
Receivable for securities lending income	—	12,279	—	—
Receivable from affiliates	—	10,597	—	—
Other assets	11,071	31,042	6,206	25,159
Total assets	339,941,637	950,681,725	131,225,433	1,201,326,223
Liabilities
Payable for futures variation margin	—	167,059	6,440	—
Foreign capital gains tax payable	—	436,485	—	—
Payable for investments purchased	1,074,275	1,713,457	—	381,731
Payable for fund shares repurchased	45,576	778,698	187,028	1,769
Payable upon return of securities loaned	—	7,364,452	1,979,678	—
Payable to affiliates
Accounting and legal services fees	13,054	38,380	5,424	49,209
Trustees' fees	—	773	109	—
Other liabilities and accrued expenses	72,282	112,805	68,342	56,204
Total liabilities	1,205,187	10,612,109	2,247,021	488,913
Net assets	$338,736,450	$940,069,616	$128,978,412	$1,200,837,310
Net assets consist of
Paid-in capital	$164,509,642	$600,332,862	$106,783,635	$956,901,534
Total distributable earnings (loss)	174,226,808	339,736,754	22,194,777	243,935,776
Net assets	$338,736,450	$940,069,616	$128,978,412	$1,200,837,310
Unaffiliated investments, including repurchase agreements, at cost	$210,048,881	$613,000,965	$114,712,405	—
Affiliated investments, at cost	—	$8,617,061	$1,975,197	$1,015,316,897
Foreign currency, at cost	$4,742	$11,811,666	$234,797	—
Securities loaned, at value	—	$13,941,022	$3,126,802	—
Net asset value per share
The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class.
Series I
Net assets	$81,201,894	$392,515,485	$27,391,894	$41,043,089
Shares outstanding	2,409,002	18,380,383	1,662,863	2,363,478
Net asset value, offering price and redemption price per share	$33.71	$21.36	$16.47	$17.37
Series II
Net assets	$80,074,026	$24,857,794	$15,462,875	$1,007,146,751
Shares outstanding	2,643,041	1,163,603	940,968	57,944,577
Net asset value, offering price and redemption price per share	$30.30	$21.36	$16.43	$17.38
Series NAV
Net assets	$177,460,530	$522,696,337	$86,123,643	$152,647,470
Shares outstanding	5,162,303	24,478,389	5,223,760	8,796,685
Net asset value, offering price and redemption price per share	$34.38	$21.35	$16.49	$17.35

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

Table of Contents

John Hancock Variable Insurance Trust

Statements of assets and liabilities — June 30, 2021 (unaudited)

Assets	Lifestyle Conservative Portfolio	Lifestyle Growth Portfolio	Lifestyle Moderate Portfolio	Mid Cap Index Trust
Unaffiliated investments, at value (including securities loaned)	—	—	—	$1,451,748,004
Affiliated investments, at value	$234,882,302	$6,440,890,193	$365,164,802	6,098,615
Repurchase agreements, at value	—	—	—	6,487,000
Total investments, at value	234,882,302	6,440,890,193	365,164,802	1,464,333,619
Receivable for futures variation margin	—	—	—	85,747
Cash	—	—	—	8,842
Collateral held at broker for futures contracts	—	—	—	5,142,000
Dividends and interest receivable	—	—	—	1,102,979
Receivable for fund shares sold	2,458	45,234	62,294	—
Receivable for investments sold	298,339	1,424,955	—	6,334,461
Receivable for securities lending income	—	—	—	930
Receivable from affiliates	1,379	—	1,591	—
Other assets	7,854	129,607	10,111	33,905
Total assets	235,192,332	6,442,489,989	365,238,798	1,477,042,483
Liabilities
Due to custodian	—	719	—	—
Payable for investments purchased	—	—	56,924	—
Payable for fund shares repurchased	300,501	1,424,808	4,469	1,944,898
Payable upon return of securities loaned	—	—	—	6,098,610
Payable to affiliates
Accounting and legal services fees	9,545	267,901	15,005	61,229
Other liabilities and accrued expenses	37,867	180,315	40,154	152,390
Total liabilities	347,913	1,873,743	116,552	8,257,127
Net assets	$234,844,419	$6,440,616,246	$365,122,246	$1,468,785,356
Net assets consist of
Paid-in capital	$211,467,534	$4,586,703,943	$302,487,061	$890,204,565
Total distributable earnings (loss)	23,376,885	1,853,912,303	62,635,185	578,580,791
Net assets	$234,844,419	$6,440,616,246	$365,122,246	$1,468,785,356
Unaffiliated investments, including repurchase agreements, at cost	—	—	—	$1,070,059,246
Affiliated investments, at cost	$216,921,550	$5,133,729,602	$319,477,076	$6,098,619
Securities loaned, at value	—	—	—	$6,588,372
Net asset value per share
The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class.
Series I
Net assets	$18,559,906	$250,651,237	$16,057,395	$1,107,492,705
Shares outstanding	1,264,419	12,945,911	976,222	44,218,004
Net asset value, offering price and redemption price per share	$14.68	$19.36	$16.45	$25.05
Series II
Net assets	$206,297,842	$5,638,720,844	$307,698,491	$74,741,572
Shares outstanding	14,050,957	291,244,901	18,688,744	3,006,231
Net asset value, offering price and redemption price per share	$14.68	$19.36	$16.46	$24.86
Series NAV
Net assets	$9,986,671	$551,244,165	$41,366,360	$286,551,079
Shares outstanding	680,807	28,479,211	2,515,127	11,438,976
Net asset value, offering price and redemption price per share	$14.67	$19.36	$16.45	$25.05

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

Table of Contents

John Hancock Variable Insurance Trust

Statements of assets and liabilities — June 30, 2021 (unaudited)

Assets	Mid Cap Stock Trust	Mid Value Trust	Real Estate Securities Trust	Science & Technology Trust
Unaffiliated investments, at value (including securities loaned)	$960,081,008	$669,919,671	$372,088,456	$1,152,349,885
Affiliated investments, at value	29,973,961	2,828,667	—	9,696,971
Repurchase agreements, at value	13,800,000	—	—	19,536,000
Total investments, at value	1,003,854,969	672,748,338	372,088,456	1,181,582,856
Cash	29,458	—	—	809
Foreign currency, at value	—	126,203	—	687,597
Unrealized appreciation on unfunded commitments	2,117,102	—	—	—
Dividends and interest receivable	66,766	1,141,692	792,535	280,107
Receivable for fund shares sold	97,301	—	71,255	—
Receivable for investments sold	106,381	2,666,808	—	3,454,812
Receivable for securities lending income	9,793	133	—	15,074
Other assets	40,564	19,016	11,298	28,843
Total assets	1,006,322,334	676,702,190	372,963,544	1,186,050,098
Liabilities
Payable for investments purchased	2,694,786	913,349	348,640	2,511,096
Payable for fund shares repurchased	—	1,524,257	201,866	1,190,677
Payable upon return of securities loaned	29,974,300	2,828,683	—	9,697,384
Payable to affiliates
Accounting and legal services fees	36,835	28,574	15,231	44,334
Trustees' fees	7,789	—	—	—
Other liabilities and accrued expenses	132,415	97,227	74,252	153,673
Total liabilities	32,846,125	5,392,090	639,989	13,597,164
Net assets	$973,476,209	$671,310,100	$372,323,555	$1,172,452,934
Net assets consist of
Paid-in capital	$320,343,325	$449,034,782	$292,097,527	$507,082,809
Total distributable earnings (loss)	653,132,884	222,275,318	80,226,028	665,370,125
Net assets	$973,476,209	$671,310,100	$372,323,555	$1,172,452,934
Unaffiliated investments, including repurchase agreements, at cost	$722,391,567	$513,198,530	$303,420,076	$906,660,098
Affiliated investments, at cost	$29,974,462	$2,828,681	—	$9,697,196
Foreign currency, at cost	—	$126,494	—	$611,280
Securities loaned, at value	$29,108,796	$2,741,647	—	$9,489,636
Net asset value per share
The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class.
Series I
Net assets	$235,499,516	$254,949,576	$70,758,059	$929,451,554
Shares outstanding	8,311,829	20,950,811	3,040,328	20,177,851
Net asset value, offering price and redemption price per share	$28.33	$12.17	$23.27	$46.06
Series II
Net assets	$114,333,865	$56,741,048	$38,076,717	$83,613,727
Shares outstanding	4,419,713	4,661,751	1,638,982	1,946,448
Net asset value, offering price and redemption price per share	$25.87	$12.17	$23.23	$42.96
Series NAV
Net assets	$623,642,828	$359,619,476	$263,488,779	$159,387,653
Shares outstanding	21,583,458	29,766,021	11,398,366	3,404,034
Net asset value, offering price and redemption price per share	$28.89	$12.08	$23.12	$46.82

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

Table of Contents

John Hancock Variable Insurance Trust

Statements of assets and liabilities — June 30, 2021 (unaudited)

Assets	Small Cap Index Trust	Small Cap Opportunities Trust	Small Cap Stock Trust	Small Cap Value Trust
Unaffiliated investments, at value (including securities loaned)	$700,271,925	$166,434,480	$438,614,188	$545,862,834
Affiliated investments, at value	5,698,446	437,936	9,241,650	218,223
Repurchase agreements, at value	9,600,000	—	1,800,000	15,700,000
Total investments, at value	715,570,371	166,872,416	449,655,838	561,781,057
Receivable for futures variation margin	49,531	—	—	—
Cash	7,824	—	68,163	57
Foreign currency, at value	—	—	9	54
Collateral held at broker for futures contracts	2,891,600	—	—	—
Dividends and interest receivable	477,560	96,754	68,312	697,200
Receivable for fund shares sold	4,823	93,472	21,569	41,787
Receivable for investments sold	—	638,655	1,094,131	2,908,982
Receivable for securities lending income	12,783	10	15,141	—
Other assets	18,362	7,079	13,636	15,555
Total assets	719,032,854	167,708,386	450,936,799	565,444,692
Liabilities
Due to custodian	—	42,450	—	—
Unrealized depreciation on unfunded commitments	—	—	70,880	—
Payable for investments purchased	169,380	197,778	2,838,632	2,010,032
Payable for fund shares repurchased	876,427	6,236	186,364	306,570
Payable upon return of securities loaned	5,679,303	435,768	9,255,746	218,225
Payable to affiliates
Accounting and legal services fees	28,532	7,342	16,770	23,695
Other liabilities and accrued expenses	90,878	47,769	63,694	75,392
Total liabilities	6,844,520	737,343	12,432,086	2,633,914
Net assets	$712,188,334	$166,971,043	$438,504,713	$562,810,778
Net assets consist of
Paid-in capital	$383,992,614	$104,624,954	$236,363,519	$405,919,780
Total distributable earnings (loss)	328,195,720	62,346,089	202,141,194	156,890,998
Net assets	$712,188,334	$166,971,043	$438,504,713	$562,810,778
Unaffiliated investments, including repurchase agreements, at cost	$492,224,715	$121,999,212	$376,109,779	$438,631,967
Affiliated investments, at cost	$5,698,680	$437,951	$9,241,788	$218,225
Foreign currency, at cost	—	—	$9	$55
Securities loaned, at value	$16,168,899	$425,948	$8,980,464	$213,065
Net asset value per share
The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class.
Series I
Net assets	$505,657,558	$94,673,736	$129,133,160	$192,135,640
Shares outstanding	26,410,814	2,912,572	10,354,956	10,852,913
Net asset value, offering price and redemption price per share	$19.15	$32.51	$12.47	$17.70
Series II
Net assets	$39,750,449	$37,270,234	$39,562,502	$28,521,749
Shares outstanding	2,092,688	1,175,732	3,479,306	1,625,613
Net asset value, offering price and redemption price per share	$18.99	$31.70	$11.37	$17.55
Series NAV
Net assets	$166,780,327	$35,027,073	$269,809,051	$342,153,389
Shares outstanding	8,697,474	1,085,653	21,186,377	19,411,521
Net asset value, offering price and redemption price per share	$19.18	$32.26	$12.74	$17.63

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

Table of Contents

John Hancock Variable Insurance Trust

Statements of assets and liabilities — June 30, 2021 (unaudited)

Assets	Small Company Value Trust	Strategic Equity Allocation Trust	Total Stock Market Index Trust
Unaffiliated investments, at value (including securities loaned)	$173,890,926	$9,220,885,090	$898,130,181
Affiliated investments, at value	516,177	47,340,809	9,232,360
Repurchase agreements, at value	—	20,230,000	9,597,000
Total investments, at value	174,407,103	9,288,455,899	916,959,541
Receivable for futures variation margin	—	—	47,282
Cash	—	16,478	12,606
Foreign currency, at value	—	5,827,848	110
Collateral held at broker for futures contracts	—	50,740,868	1,865,800
Dividends and interest receivable	74,431	14,056,951	490,949
Receivable for fund shares sold	—	—	255,427
Receivable for investments sold	746,699	2,923,636	—
Receivable for securities lending income	786	59,360	16,838
Other assets	7,583	239,131	22,812
Total assets	175,236,602	9,362,320,171	919,671,365
Liabilities
Payable for futures variation margin	—	1,159,975	—
Payable for investments purchased	804,632	391	—
Payable for fund shares repurchased	45,968	1,187,535	1,820,333
Payable upon return of securities loaned	515,526	47,332,776	9,228,874
Payable to affiliates
Accounting and legal services fees	7,246	386,708	36,846
Other liabilities and accrued expenses	45,107	1,231,665	128,565
Total liabilities	1,418,479	51,299,050	11,214,618
Net assets	$173,818,123	$9,311,021,121	$908,456,747
Net assets consist of
Paid-in capital	$105,039,843	$3,073,102,031	$269,087,374
Total distributable earnings (loss)	68,778,280	6,237,919,090	639,369,373
Net assets	$173,818,123	$9,311,021,121	$908,456,747
Unaffiliated investments, including repurchase agreements, at cost	$119,891,708	$4,726,771,289	$363,001,161
Affiliated investments, at cost	$516,182	$47,341,585	$9,232,567
Foreign currency, at cost	—	$5,862,225	$110
Securities loaned, at value	$504,188	$62,510,668	$8,911,447
Net asset value per share
The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class.
Series I
Net assets	$61,018,197	—	$614,271,453
Shares outstanding	4,976,595	—	20,340,214
Net asset value, offering price and redemption price per share	$12.26	—	$30.20
Series II
Net assets	$46,189,143	—	$51,144,513
Shares outstanding	3,958,817	—	1,703,429
Net asset value, offering price and redemption price per share	$11.67	—	$30.02
Series NAV
Net assets	$66,610,783	$9,311,021,121	$243,040,781
Shares outstanding	5,467,565	392,103,338	8,047,166
Net asset value, offering price and redemption price per share	$12.18	$23.75	$30.20

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

Table of Contents

John Hancock Variable Insurance Trust

Statements of operations — For the six months ended June 30, 2021 (unaudited)

Investment income	500 Index Trust	American Asset Allocation Trust	American Global Growth Trust	American Growth Trust
Dividends from unaffiliated investments	$51,508,076	$4,756,907	$691,233	$1,331,612
Interest	35,665	—	—	—
Securities lending	22,294	—	—	—
Less foreign taxes withheld	(4,846)	—	—	—
Total investment income	51,561,189	4,756,907	691,233	1,331,612
Expenses
Investment management fees	16,636,605	—	—	—
Distribution and service fees	1,252,420	4,776,343	821,378	3,555,611
Accounting and legal services fees	492,725	94,912	16,512	70,196
Trustees' fees	66,754	13,861	2,472	10,189
Custodian fees	369,174	5,951	5,951	5,951
Printing and postage	45,172	16,217	7,377	13,586
Professional fees	75,281	21,945	11,580	18,962
Other	100,957	17,390	7,032	13,816
Total expenses	19,039,088	4,946,619	872,302	3,688,311
Less expense reductions	(8,758,320)	(348,039)	(80,931)	(376,424)
Net expenses	10,280,768	4,598,580	791,371	3,311,887
Net investment income (loss)	41,280,421	158,327	(100,138)	(1,980,275)
Realized and unrealized gain (loss)
Net realized gain (loss) on
Unaffiliated investments and foreign currency transactions	31,971,075	63,069,706	7,720,256	37,979,051
Affiliated investments	(998)	—	—	—
Capital gain distributions received from unaffiliated investments	—	46,915,865	12,090,724	137,834,946
Futures contracts	33,576,833	—	—	—
	65,546,910	109,985,571	19,810,980	175,813,997
Change in net unrealized appreciation (depreciation) of
Unaffiliated investments and translation of assets and liabilities in foreign currencies	918,727,677	25,450,917	7,271,269	(45,985,764)
Affiliated investments	649	—	—	—
Futures contracts	(2,455,966)	—	—	—
	916,272,360	25,450,917	7,271,269	(45,985,764)
Net realized and unrealized gain (loss)	981,819,270	135,436,488	27,082,249	129,828,233
Increase in net assets from operations	$1,023,099,691	$135,594,815	$26,982,111	$127,847,958

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

Table of Contents

John Hancock Variable Insurance Trust

Statements of operations — For the six months ended June 30, 2021 (unaudited)

Investment income	American Growth-Income Trust	American International Trust	Blue Chip Growth Trust	Capital Appreciation Trust
Dividends from unaffiliated investments	$4,346,275	$294,889	$4,229,416	$1,211,362
Interest	—	—	2,479	372
Securities lending	—	—	8,833	300
Less foreign taxes withheld	—	—	(7,792)	(63,012)
Total investment income	4,346,275	294,889	4,232,936	1,149,022
Expenses
Investment management fees	—	—	8,645,833	2,550,689
Distribution and service fees	3,197,140	1,728,658	281,096	173,265
Accounting and legal services fees	70,513	33,716	155,132	47,553
Trustees' fees	10,176	5,183	22,667	7,059
Custodian fees	5,951	5,951	144,803	50,581
Printing and postage	13,411	9,171	20,694	9,794
Professional fees	18,507	13,826	40,313	24,842
Other	14,049	9,276	42,385	18,383
Total expenses	3,329,747	1,805,781	9,352,923	2,882,166
Less expense reductions	(233,175)	(54,017)	(407,924)	(31,827)
Net expenses	3,096,572	1,751,764	8,944,999	2,850,339
Net investment income (loss)	1,249,703	(1,456,875)	(4,712,063)	(1,701,317)
Realized and unrealized gain (loss)
Net realized gain (loss) on
Unaffiliated investments and foreign currency transactions	19,171,941	7,548,408	211,608,845	86,154,788
Affiliated investments	—	—	(209)	(647)
Capital gain distributions received from unaffiliated investments	10,426,556	—	—	—
	29,598,497	7,548,408	211,608,636	86,154,141
Change in net unrealized appreciation (depreciation) of
Unaffiliated investments and translation of assets and liabilities in foreign currencies	107,968,279	16,408,383	74,012,232	(14,638,030)
Affiliated investments	—	—	(232)	946
	107,968,279	16,408,383	74,012,000	(14,637,084)
Net realized and unrealized gain (loss)	137,566,776	23,956,791	285,620,636	71,517,057
Increase in net assets from operations	$138,816,479	$22,499,916	$280,908,573	$69,815,740

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

Table of Contents

John Hancock Variable Insurance Trust

Statements of operations — For the six months ended June 30, 2021 (unaudited)

Investment income	Capital Appreciation Value Trust	Disciplined Value International Trust	Emerging Markets Value Trust	Equity Income Trust
Dividends from unaffiliated investments	$2,003,135	$8,539,676	$4,509,338	$20,018,040
Interest	1,628,298	310	687	99,253
Securities lending	—	55,445	46,718	14,801
Less foreign taxes withheld	(4,444)	(913,083)	(432,305)	(478,277)
Total investment income	3,626,989	7,682,348	4,124,438	19,653,817
Expenses
Investment management fees	1,884,180	1,230,682	1,125,081	5,532,511
Distribution and service fees	358,391	80,136	45,323	223,431
Accounting and legal services fees	30,844	21,393	17,092	110,816
Trustees' fees	4,462	3,506	2,746	15,503
Custodian fees	31,498	62,712	117,698	83,646
Printing and postage	8,556	7,701	8,685	15,643
Professional fees	27,427	36,445	31,796	34,706
Other	15,346	14,785	16,216	38,069
Total expenses	2,360,704	1,457,360	1,364,637	6,054,325
Less expense reductions	(97,634)	(13,869)	(11,017)	(242,804)
Net expenses	2,263,070	1,443,491	1,353,620	5,811,521
Net investment income	1,363,919	6,238,857	2,770,818	13,842,296
Realized and unrealized gain (loss)
Net realized gain (loss) on
Unaffiliated investments and foreign currency transactions	31,954,247	24,838,348	3,280,343	87,827,226
Affiliated investments	(15)	(623)	(733)	(1,655)
Futures contracts	—	—	41,438	—
Written options	1,488,551	—	—	—
	33,442,783	24,837,725	3,321,048	87,825,571
Change in net unrealized appreciation (depreciation) of
Unaffiliated investments and translation of assets and liabilities in foreign currencies	8,125,381	4,112,109	31,251,948	169,910,778
Affiliated investments	7	(71)	131	250
Futures contracts	—	—	(50,998)	—
Written options	241,853	—	—	—
	8,367,241	4,112,038	31,201,081	169,911,028
Net realized and unrealized gain (loss)	41,810,024	28,949,763	34,522,129	257,736,599
Increase in net assets from operations	$43,173,943	$35,188,620	$37,292,947	$271,578,895

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

Table of Contents

John Hancock Variable Insurance Trust

Statements of operations — For the six months ended June 30, 2021 (unaudited)

Investment income	Financial Industries Trust	Fundamental All Cap Core Trust	Fundamental Large Cap Value Trust	Global Equity Trust
Dividends from unaffiliated investments	$1,498,652	$10,484,339	$6,311,047	$6,817,819
Interest	39	2,702	951	—
Securities lending	54	—	—	—
Less foreign taxes withheld	(17,832)	(255,931)	(224,888)	(316,692)
Total investment income	1,480,913	10,231,110	6,087,110	6,501,127
Expenses
Investment management fees	605,727	7,927,810	2,557,029	1,373,984
Distribution and service fees	50,243	98,866	325,037	102,588
Accounting and legal services fees	11,192	160,386	52,049	22,102
Trustees' fees	1,522	21,509	6,955	3,789
Custodian fees	12,928	129,108	42,358	54,439
Printing and postage	6,570	17,931	9,917	37,428
Professional fees	23,463	35,822	24,741	43,483
Other	10,625	37,468	17,760	11,749
Total expenses	722,270	8,428,900	3,035,846	1,649,562
Less expense reductions	(6,867)	(102,588)	(43,923)	(15,022)
Net expenses	715,403	8,326,312	2,991,923	1,634,540
Net investment income	765,510	1,904,798	3,095,187	4,866,587
Realized and unrealized gain (loss)
Net realized gain (loss) on
Unaffiliated investments and foreign currency transactions	14,301,727	77,776,051	59,545,477	36,175,672
Affiliated investments	12	—	—	—
Forward foreign currency contracts	(625,234)	—	—	(252,021)
	13,676,505	77,776,051	59,545,477	35,923,651
Change in net unrealized appreciation (depreciation) of
Unaffiliated investments and translation of assets and liabilities in foreign currencies	9,378,704	351,706,588	84,466,396	1,260,160
Forward foreign currency contracts	656,480	—	—	451,011
	10,035,184	351,706,588	84,466,396	1,711,171
Net realized and unrealized gain (loss)	23,711,689	429,482,639	144,011,873	37,634,822
Increase in net assets from operations	$24,477,199	$431,387,437	$147,107,060	$42,501,409

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

Table of Contents

John Hancock Variable Insurance Trust

Statements of operations — For the six months ended June 30, 2021 (unaudited)

Investment income	Health Sciences Trust	International Equity Index Trust	International Small Company Trust	Lifestyle Balanced Portfolio
Dividends from unaffiliated investments	$1,038,625	$14,368,917	$1,792,881	—
Dividends from affiliated investments	—	25,258	—	—
Securities lending	—	64,670	52,493	—
Less foreign taxes withheld	(19,415)	(1,462,694)	(192,401)	—
Total investment income	1,019,461	12,996,151	1,653,692	—
Expenses
Investment management fees	1,540,677	2,355,775	545,632	$240,231
Distribution and service fees	120,786	124,874	26,136	1,237,416
Accounting and legal services fees	21,226	60,438	8,487	78,009
Trustees' fees	3,262	9,732	1,429	11,107
Custodian fees	24,730	186,369	46,256	10,283
Printing and postage	7,651	11,030	6,423	14,874
Professional fees	30,593	37,780	31,071	25,594
Other	11,348	24,275	8,966	16,611
Total expenses	1,760,273	2,810,273	674,400	1,634,125
Less expense reductions	(88,235)	(1,142,923)	(5,404)	(29,102)
Net expenses	1,672,038	1,667,350	668,996	1,605,023
Net investment income (loss)	(652,577)	11,328,801	984,696	(1,605,023)
Realized and unrealized gain (loss)
Net realized gain (loss) on
Unaffiliated investments and foreign currency transactions	15,332,901	4,667,159	4,655,560	—
Affiliated investments	—	25,350	(1,951)	12,930,554
Futures contracts	—	2,234,455	120,747	—
	15,332,901	6,926,964	4,774,356	12,930,554
Change in net unrealized appreciation (depreciation) of
Unaffiliated investments and translation of assets and liabilities in foreign currencies	12,008,119	62,038,728	7,900,571	—
Affiliated investments	—	97,285	1,363	55,137,468
Futures contracts	—	(766,735)	(29,902)	—
	12,008,119	61,369,278	7,872,032	55,137,468
Net realized and unrealized gain (loss)	27,341,020	68,296,242	12,646,388	68,068,022
Increase in net assets from operations	$26,688,443	$79,625,043	$13,631,084	$66,462,999

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

Table of Contents

John Hancock Variable Insurance Trust

Statements of operations — For the six months ended June 30, 2021 (unaudited)

Investment income	Lifestyle Conservative Portfolio	Lifestyle Growth Portfolio	Lifestyle Moderate Portfolio	Mid Cap Index Trust
Dividends from unaffiliated investments	—	—	—	$9,341,588
Interest	—	—	—	5,441
Securities lending	—	—	—	6,149
Total investment income	—	—	—	9,353,178
Expenses
Investment management fees	$48,397	$1,316,799	$73,924	3,338,587
Distribution and service fees	263,546	7,103,636	383,600	362,585
Accounting and legal services fees	15,419	424,113	23,853	96,801
Trustees' fees	2,347	61,634	3,533	13,446
Custodian fees	10,292	17,392	10,292	71,539
Printing and postage	7,249	46,946	7,958	13,302
Professional fees	18,450	69,236	19,350	29,907
Other	7,972	58,690	9,018	25,707
Total expenses	373,672	9,098,446	531,528	3,951,874
Less expense reductions	(20,688)	(159,579)	(11,317)	(774,473)
Net expenses	352,984	8,938,867	520,211	3,177,401
Net investment income (loss)	(352,984)	(8,938,867)	(520,211)	6,175,777
Realized and unrealized gain (loss)
Net realized gain (loss) on
Unaffiliated investments and foreign currency transactions	—	—	—	99,119,565
Affiliated investments	2,420,072	148,563,871	4,855,629	(263)
Futures contracts	—	—	—	7,814,383
	2,420,072	148,563,871	4,855,629	106,933,685
Change in net unrealized appreciation (depreciation) of
Unaffiliated investments and translation of assets and liabilities in foreign currencies	—	—	—	110,713,335
Affiliated investments	1,704,534	398,910,729	11,206,385	462
Futures contracts	—	—	—	(1,396,824)
	1,704,534	398,910,729	11,206,385	109,316,973
Net realized and unrealized gain (loss)	4,124,606	547,474,600	16,062,014	216,250,658
Increase in net assets from operations	$3,771,622	$538,535,733	$15,541,803	$222,426,435

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

Table of Contents

John Hancock Variable Insurance Trust

Statements of operations — For the six months ended June 30, 2021 (unaudited)

Investment income	Mid Cap Stock Trust	Mid Value Trust	Real Estate Securities Trust	Science & Technology Trust
Dividends from unaffiliated investments	$824,137	$6,122,867	$4,212,057	$2,444,018
Interest	2,199	117,734	499	17,269
Securities lending	23,207	678	—	21,580
Less foreign taxes withheld	—	(156,385)	(419)	(241,550)
Total investment income	849,543	6,084,894	4,212,137	2,241,317
Expenses
Investment management fees	4,073,416	3,114,919	1,183,993	5,939,242
Distribution and service fees	204,706	126,940	59,254	336,005
Accounting and legal services fees	63,120	44,699	23,073	75,553
Trustees' fees	11,512	6,280	3,272	11,135
Custodian fees	59,908	34,279	21,719	90,889
Printing and postage	11,196	9,360	7,742	11,717
Professional fees	34,878	25,217	35,822	32,066
Other	23,591	17,249	11,500	21,494
Total expenses	4,482,327	3,378,943	1,346,375	6,518,101
Less expense reductions	(42,715)	(178,447)	(14,774)	(311,075)
Net expenses	4,439,612	3,200,496	1,331,601	6,207,026
Net investment income (loss)	(3,590,069)	2,884,398	2,880,536	(3,965,709)
Realized and unrealized gain (loss)
Net realized gain (loss) on
Unaffiliated investments and foreign currency transactions	142,172,217	55,580,379	15,265,583	196,256,045
Affiliated investments	(1,673)	(507)	—	(932)
	142,170,544	55,579,872	15,265,583	196,255,113
Change in net unrealized appreciation (depreciation) of
Unaffiliated investments and translation of assets and liabilities in foreign currencies	(62,305,417)	56,924,871	51,617,170	(81,668,337)
Affiliated investments	(214)	154	—	19
Unfunded commitments	2,117,102	—	—	—
	(60,188,529)	56,925,025	51,617,170	(81,668,318)
Net realized and unrealized gain (loss)	81,982,015	112,504,897	66,882,753	114,586,795
Increase in net assets from operations	$78,391,946	$115,389,295	$69,763,289	$110,621,086

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

Table of Contents

John Hancock Variable Insurance Trust

Statements of operations — For the six months ended June 30, 2021 (unaudited)

Investment income	Small Cap Index Trust	Small Cap Opportunities Trust	Small Cap Stock Trust	Small Cap Value Trust
Dividends from unaffiliated investments	$3,329,554	$1,092,861	$489,855	$4,215,957
Interest	—	133	1,006	2,230
Securities lending	111,318	9,574	64,275	—
Less foreign taxes withheld	(6,751)	(1,982)	—	—
Total investment income	3,434,121	1,100,586	555,136	4,218,187
Expenses
Investment management fees	1,657,853	808,378	2,282,131	2,584,827
Distribution and service fees	171,829	67,723	86,899	80,335
Accounting and legal services fees	46,863	11,461	29,629	38,245
Trustees' fees	6,348	1,576	4,325	5,140
Custodian fees	37,037	18,499	25,759	25,805
Printing and postage	9,146	6,530	7,926	8,297
Professional fees	25,802	20,488	25,384	25,268
Other	16,893	9,688	13,479	14,092
Total expenses	1,971,771	944,343	2,475,532	2,782,009
Less expense reductions	(203,733)	(174,702)	(19,768)	(24,097)
Net expenses	1,768,038	769,641	2,455,764	2,757,912
Net investment income (loss)	1,666,083	330,945	(1,900,628)	1,460,275
Realized and unrealized gain (loss)
Net realized gain (loss) on
Unaffiliated investments and foreign currency transactions	58,522,004	14,046,608	78,089,275	37,090,160
Affiliated investments	(2,653)	(214)	(2,781)	(1)
Futures contracts	3,060,469	—	—	—
	61,579,820	14,046,394	78,086,494	37,090,159
Change in net unrealized appreciation (depreciation) of
Unaffiliated investments and translation of assets and liabilities in foreign currencies	41,486,042	18,638,152	(56,422,295)	61,965,353
Affiliated investments	1,096	132	1,027	65
Futures contracts	(498,550)	—	—	—
Unfunded commitments	—	—	(2,760,688)	—
	40,988,588	18,638,284	(59,181,956)	61,965,418
Net realized and unrealized gain (loss)	102,568,408	32,684,678	18,904,538	99,055,577
Increase in net assets from operations	$104,234,491	$33,015,623	$17,003,910	$100,515,852

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

Table of Contents

John Hancock Variable Insurance Trust

Statements of operations — For the six months ended June 30, 2021 (unaudited)

Investment income	Small Company Value Trust	Strategic Equity Allocation Trust	Total Stock Market Index Trust
Dividends from unaffiliated investments	$942,529	$97,925,423	$5,907,443
Interest	461	56,620	—
Securities lending	15,640	396,467	73,942
Less foreign taxes withheld	(1,500)	(4,859,012)	(353)
Total investment income	957,130	93,519,498	5,981,032
Expenses
Investment management fees	888,668	29,068,871	2,041,008
Distribution and service fees	72,442	—	206,272
Accounting and legal services fees	11,532	615,219	58,080
Trustees' fees	1,683	91,901	8,175
Custodian fees	12,661	699,151	49,286
Printing and postage	6,596	32,697	10,412
Professional fees	20,411	123,868	32,395
Other	8,889	173,493	20,805
Total expenses	1,022,882	30,805,200	2,426,433
Less expense reductions	(53,795)	(6,142,277)	(338,698)
Net expenses	969,087	24,662,923	2,087,735
Net investment income (loss)	(11,957)	68,856,575	3,893,297
Realized and unrealized gain (loss)
Net realized gain (loss) on
Unaffiliated investments and foreign currency transactions	11,014,678	781,773,986	44,109,205
Affiliated investments	(259)	(11,754)	(2,552)
Futures contracts	—	56,772,531	3,366,758
	11,014,419	838,534,763	47,473,411
Change in net unrealized appreciation (depreciation) of
Unaffiliated investments and translation of assets and liabilities in foreign currencies	13,734,051	267,960,864	69,360,044
Affiliated investments	58	7,389	1,575
Futures contracts	—	(6,262,112)	82,404
	13,734,109	261,706,141	69,444,023
Net realized and unrealized gain (loss)	24,748,528	1,100,240,904	116,917,434
Increase in net assets from operations	$24,736,571	$1,169,097,479	$120,810,731

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

Table of Contents

John Hancock Variable Insurance Trust

Statements of changes in net assets

	500 Index Trust		American Asset Allocation Trust		American Global Growth Trust
Increase (decrease) in net assets	Six months ended 6-30-21 (unaudited)	Year ended 12-31-20	Six months ended 6-30-21 (unaudited)	Year ended 12-31-20	Six months ended 6-30-21 (unaudited)	Year ended 12-31-20
From operations
Net investment income (loss)	$41,280,421	$104,892,811	$158,327	$16,204,161	$(100,138)	$(114,069)
Net realized gain	65,546,910	314,620,752	109,985,571	76,404,734	19,810,980	14,084,057
Change in net unrealized appreciation (depreciation)	916,272,360	635,702,117	25,450,917	57,474,962	7,271,269	44,474,367
Increase in net assets resulting from operations	1,023,099,691	1,055,215,680	135,594,815	150,083,857	26,982,111	58,444,355
Distributions to shareholders
From earnings
Series I	—	(140,819,888)	—	(40,739,656)	—	(2,575,727)
Series II	—	(2,486,486)	—	(117,374,226)	—	(12,658,629)
Series III	—	—	—	(15,804,385)	—	(2,331,770)
Series NAV	—	(81,922,505)	—	—	—	—
Total distributions	—	(225,228,879)	—	(173,918,267)	—	(17,566,126)
From portfolio share transactions
Portfolio share transactions	(115,798,731)	(109,030,580)	(108,483,554)	40,213,411	(16,660,659)	(16,785,527)
Total increase	907,300,960	720,956,221	27,111,261	16,379,001	10,321,452	24,092,702
Net assets
Beginning of period	6,825,192,621	6,104,236,400	1,411,597,250	1,395,218,249	242,734,838	218,642,136
End of period	$7,732,493,581	$6,825,192,621	$1,438,708,511	$1,411,597,250	$253,056,290	$242,734,838

	American Growth Trust		American Growth-Income Trust		American International Trust
Increase (decrease) in net assets	Six months ended 6-30-21 (unaudited)	Year ended 12-31-20	Six months ended 6-30-21 (unaudited)	Year ended 12-31-20	Six months ended 6-30-21 (unaudited)	Year ended 12-31-20
From operations
Net investment income (loss)	$(1,980,275)	$(692,765)	$1,249,703	$9,441,547	$(1,456,875)	$1,104,542
Net realized gain	175,813,997	69,900,078	29,598,497	56,616,393	7,548,408	1,862,061
Change in net unrealized appreciation (depreciation)	(45,985,764)	318,533,109	107,968,279	59,521,872	16,408,383	67,764,966
Increase in net assets resulting from operations	127,847,958	387,740,422	138,816,479	125,579,812	22,499,916	70,731,569
Distributions to shareholders
From earnings
Series I	—	(23,055,381)	—	(40,231,022)	—	(7,212,201)
Series II	—	(82,362,899)	—	(71,054,364)	—	(13,936,196)
Series III	—	(11,683,658)	—	(28,815,935)	—	(1,844,291)
Total distributions	—	(117,101,938)	—	(140,101,321)	—	(22,992,688)
From portfolio share transactions
Portfolio share transactions	(79,298,805)	(81,404,474)	(90,781,113)	39,829,353	(34,618,052)	(7,499,038)
Total increase (decrease)	48,549,153	189,234,010	48,035,366	25,307,844	(12,118,136)	40,239,843
Net assets
Beginning of period	1,046,438,367	857,204,357	1,034,206,128	1,008,898,284	524,515,478	484,275,635
End of period	$1,094,987,520	$1,046,438,367	$1,082,241,494	$1,034,206,128	$512,397,342	$524,515,478

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

Table of Contents

John Hancock Variable Insurance Trust

Statements of changes in net assets

	Blue Chip Growth Trust		Capital Appreciation Trust		Capital Appreciation Value Trust
Increase (decrease) in net assets	Six months ended 6-30-21 (unaudited)	Year ended 12-31-20	Six months ended 6-30-21 (unaudited)	Year ended 12-31-20	Six months ended 6-30-21 (unaudited)	Year ended 12-31-20
From operations
Net investment income (loss)	$(4,712,063)	$(5,383,839)	$(1,701,317)	$(1,926,451)	$1,363,919	$3,104,613
Net realized gain	211,608,636	322,305,420	86,154,141	125,477,722	33,442,783	51,104,771
Change in net unrealized appreciation (depreciation)	74,012,000	313,551,191	(14,637,084)	154,413,870	8,367,241	12,366,653
Increase in net assets resulting from operations	280,908,573	630,472,772	69,815,740	277,965,141	43,173,943	66,576,037
Distributions to shareholders
From earnings
Series I	—	(48,329,550)	—	(24,024,161)	—	(514,065)
Series II	—	(19,738,173)	—	(9,104,998)	—	(24,625,527)
Series NAV	—	(224,760,504)	—	(32,189,382)	—	(13,130,202)
Total distributions	—	(292,828,227)	—	(65,318,541)	—	(38,269,794)
From portfolio share transactions
Portfolio share transactions	(178,583,825)	(148,073,453)	(46,546,925)	(11,808,364)	(16,586,358)	8,649,106
Total increase	102,324,748	189,571,092	23,268,815	200,838,236	26,587,585	36,955,349
Net assets
Beginning of period	2,356,424,811	2,166,853,719	743,640,840	542,802,604	449,757,129	412,801,780
End of period	$2,458,749,559	$2,356,424,811	$766,909,655	$743,640,840	$476,344,714	$449,757,129

	Disciplined Value International Trust		Emerging Markets Value Trust		Equity Income Trust
Increase (decrease) in net assets	Six months ended 6-30-21 (unaudited)	Year ended 12-31-20	Six months ended 6-30-21 (unaudited)	Year ended 12-31-20	Six months ended 6-30-21 (unaudited)	Year ended 12-31-20
From operations
Net investment income	$6,238,857	$4,909,470	$2,770,818	$4,048,530	$13,842,296	$32,758,634
Net realized gain (loss)	24,837,725	(31,087,609)	3,321,048	(8,768,567)	87,825,571	29,573,412
Change in net unrealized appreciation (depreciation)	4,112,038	34,521,907	31,201,081	11,590,976	169,911,028	(63,406,738)
Increase (decrease) in net assets resulting from operations	35,188,620	8,343,768	37,292,947	6,870,939	271,578,895	(1,074,692)
Distributions to shareholders
From earnings
Series I	—	(1,438,637)	—	(124,789)	—	(21,710,712)
Series II	—	(793,702)	—	(638,953)	—	(11,464,344)
Series NAV	—	(3,461,172)	—	(4,060,113)	—	(115,622,593)
Total distributions	—	(5,693,511)	—	(4,823,855)	—	(148,797,649)
From portfolio share transactions
Portfolio share transactions	(13,198,893)	(11,562,583)	(2,377,630)	(3,045,711)	(95,102,564)	(61,379,085)
Total increase (decrease)	21,989,727	(8,912,326)	34,915,317	(998,627)	176,476,331	(211,251,426)
Net assets
Beginning of period	300,762,073	309,674,399	232,676,572	233,675,199	1,484,342,675	1,695,594,101
End of period	$322,751,800	$300,762,073	$267,591,889	$232,676,572	$1,660,819,006	$1,484,342,675

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

Table of Contents

John Hancock Variable Insurance Trust

Statements of changes in net assets

	Financial Industries Trust		Fundamental All Cap Core Trust		Fundamental Large Cap Value Trust
Increase (decrease) in net assets	Six months ended 6-30-21 (unaudited)	Year ended 12-31-20	Six months ended 6-30-21 (unaudited)	Year ended 12-31-20	Six months ended 6-30-21 (unaudited)	Year ended 12-31-20
From operations
Net investment income	$765,510	$1,416,874	$1,904,798	$5,376,497	$3,095,187	$5,408,098
Net realized gain (loss)	13,676,505	(71,593)	77,776,051	195,851,821	59,545,477	89,604,524
Change in net unrealized appreciation (depreciation)	10,035,184	(1,530,180)	351,706,588	268,581,806	84,466,396	(23,932,139)
Increase (decrease) in net assets resulting from operations	24,477,199	(184,899)	431,387,437	469,810,124	147,107,060	71,080,483
Distributions to shareholders
From earnings
Series I	—	(9,295,325)	—	(3,553,697)	—	(10,560,919)
Series II	—	(1,427,577)	—	(1,417,804)	—	(4,060,006)
Series NAV	—	(2,408,134)	—	(58,278,006)	—	(3,300,686)
Total distributions	—	(13,131,036)	—	(63,249,507)	—	(17,921,611)
From portfolio share transactions
Portfolio share transactions	13,720,592	(12,036,094)	(91,531,239)	(86,683,252)	(15,032,589)	(42,419,712)
Total increase (decrease)	38,197,791	(25,352,029)	339,856,198	319,877,365	132,074,471	10,739,160
Net assets
Beginning of period	132,340,657	157,692,686	2,187,766,125	1,867,888,760	674,726,593	663,987,433
End of period	$170,538,448	$132,340,657	$2,527,622,323	$2,187,766,125	$806,801,064	$674,726,593

	Global Equity Trust		Health Sciences Trust		International Equity Index Trust
Increase (decrease) in net assets	Six months ended 6-30-21 (unaudited)	Year ended 12-31-20	Six months ended 6-30-21 (unaudited)	Year ended 12-31-20	Six months ended 6-30-21 (unaudited)	Year ended 12-31-20
From operations
Net investment income (loss)	$4,866,587	$1,919,867	$(652,577)	$(976,841)	$11,328,801	$15,700,364
Net realized gain (loss)	35,923,651	(28,388,335)	15,332,901	33,957,148	6,926,964	12,164,506
Change in net unrealized appreciation (depreciation)	1,711,171	48,902,939	12,008,119	37,615,827	61,369,278	51,362,168
Increase in net assets resulting from operations	42,501,409	22,434,471	26,688,443	70,596,134	79,625,043	79,227,038
Distributions to shareholders
From earnings
Series I	—	(2,134,483)	—	(7,609,149)	—	(10,938,135)
Series II	—	(478,485)	—	(8,601,256)	—	(656,853)
Series NAV	—	(843,353)	—	(14,689,821)	—	(14,838,122)
From tax return of capital
Series I	—	(121,470)	—	—	—	—
Series II	—	(25,337)	—	—	—	—
Series NAV	—	(48,744)	—	—	—	—
Total distributions	—	(3,651,872)	—	(30,900,226)	—	(26,433,110)
From portfolio share transactions
Portfolio share transactions	(25,300,825)	(15,896,815)	(13,548,687)	12,117,856	(7,833,893)	(24,807,678)
Issued in reorganization	—	144,970,081	—	—	—	—
Total from portfolio share transactions	(25,300,825)	129,073,266	(13,548,687)	12,117,856	(7,833,893)	(24,807,678)
Total increase	17,200,584	147,855,865	13,139,756	51,813,764	71,791,150	27,986,250
Net assets
Beginning of period	336,384,774	188,528,909	325,596,694	273,782,930	868,278,466	840,292,216
End of period	$353,585,358	$336,384,774	$338,736,450	$325,596,694	$940,069,616	$868,278,466

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

Table of Contents

John Hancock Variable Insurance Trust

Statements of changes in net assets

	International Small Company Trust		Lifestyle Balanced Portfolio		Lifestyle Conservative Portfolio
Increase (decrease) in net assets	Six months ended 6-30-21 (unaudited)	Year ended 12-31-20	Six months ended 6-30-21 (unaudited)	Year ended 12-31-20	Six months ended 6-30-21 (unaudited)	Year ended 12-31-20
From operations
Net investment income (loss)	$984,696	$1,207,405	$(1,605,023)	$22,823,570	$(352,984)	$5,730,835
Net realized gain	4,774,356	4,161,555	12,930,554	49,360,186	2,420,072	4,536,059
Change in net unrealized appreciation (depreciation)	7,872,032	3,191,445	55,137,468	45,469,432	1,704,534	11,512,733
Increase in net assets resulting from operations	13,631,084	8,560,405	66,462,999	117,653,188	3,771,622	21,779,627
Distributions to shareholders
From earnings
Series I	—	(1,259,454)	—	(2,212,734)	—	(771,879)
Series II	—	(658,088)	—	(50,051,973)	—	(9,455,527)
Series NAV	—	(3,580,074)	—	(7,473,357)	—	(411,202)
Total distributions	—	(5,497,616)	—	(59,738,064)	—	(10,638,608)
From portfolio share transactions
Portfolio share transactions	(1,177,785)	(2,159,041)	(2,651,084)	68,275,435	(2,584,607)	36,115,091
Total increase	12,453,299	903,748	63,811,915	126,190,559	1,187,015	47,256,110
Net assets
Beginning of period	116,525,113	115,621,365	1,137,025,395	1,010,834,836	233,657,404	186,401,294
End of period	$128,978,412	$116,525,113	$1,200,837,310	$1,137,025,395	$234,844,419	$233,657,404

	Lifestyle Growth Portfolio		Lifestyle Moderate Portfolio		Mid Cap Index Trust
Increase (decrease) in net assets	Six months ended 6-30-21 (unaudited)	Year ended 12-31-20	Six months ended 6-30-21 (unaudited)	Year ended 12-31-20	Six months ended 6-30-21 (unaudited)	Year ended 12-31-20
From operations
Net investment income (loss)	$(8,938,867)	$115,184,750	$(520,211)	$7,610,247	$6,175,777	$12,618,585
Net realized gain	148,563,871	420,503,917	4,855,629	13,671,068	106,933,685	76,656,409
Change in net unrealized appreciation (depreciation)	398,910,729	185,420,595	11,206,385	13,934,298	109,316,973	51,889,019
Increase in net assets resulting from operations	538,535,733	721,109,262	15,541,803	35,215,613	222,426,435	141,164,013
Distributions to shareholders
From earnings
Series I	—	(16,683,731)	—	(741,472)	—	(105,191,983)
Series II	—	(388,074,250)	—	(15,517,113)	—	(6,949,314)
Series NAV	—	(33,722,560)	—	(1,848,646)	—	(24,385,729)
Total distributions	—	(438,480,541)	—	(18,107,231)	—	(136,527,026)
From portfolio share transactions
Portfolio share transactions	(438,494,741)	(186,581,265)	(6,604,920)	27,590,853	(57,606,401)	(45,273,599)
Issued in reorganization	39,049,320	—	—	—	—	—
Total from portfolio share transactions	(399,445,421)	(186,581,265)	(6,604,920)	27,590,853	(57,606,401)	(45,273,599)
Total increase (decrease)	139,090,312	96,047,456	8,936,883	44,699,235	164,820,034	(40,636,612)
Net assets
Beginning of period	6,301,525,934	6,205,478,478	356,185,363	311,486,128	1,303,965,322	1,344,601,934
End of period	$6,440,616,246	$6,301,525,934	$365,122,246	$356,185,363	$1,468,785,356	$1,303,965,322

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

Table of Contents

John Hancock Variable Insurance Trust

Statements of changes in net assets

	Mid Cap Stock Trust		Mid Value Trust		Real Estate Securities Trust
Increase (decrease) in net assets	Six months ended 6-30-21 (unaudited)	Year ended 12-31-20	Six months ended 6-30-21 (unaudited)	Year ended 12-31-20	Six months ended 6-30-21 (unaudited)	Year ended 12-31-20
From operations
Net investment income (loss)	$(3,590,069)	$(4,800,188)	$2,884,398	$8,709,333	$2,880,536	$6,065,632
Net realized gain (loss)	142,170,544	267,262,561	55,579,872	16,286,876	15,265,583	(10,494,729)
Change in net unrealized appreciation (depreciation)	(60,188,529)	159,368,656	56,925,025	20,570,677	51,617,170	(17,796,519)
Increase (decrease) in net assets resulting from operations	78,391,946	421,831,029	115,389,295	45,566,886	69,763,289	(22,225,616)
Distributions to shareholders
From earnings
Series I	—	(26,323,767)	—	(7,529,965)	—	(8,384,536)
Series II	—	(14,718,135)	—	(1,603,282)	—	(4,452,874)
Series NAV	—	(68,553,560)	—	(13,009,168)	—	(30,449,623)
Total distributions	—	(109,595,462)	—	(22,142,415)	—	(43,287,033)
From portfolio share transactions
Portfolio share transactions	(93,804,160)	(112,326,130)	(46,846,066)	(90,745,338)	(11,659,325)	9,001,484
Total increase (decrease)	(15,412,214)	199,909,437	68,543,229	(67,320,867)	58,103,964	(56,511,165)
Net assets
Beginning of period	988,888,423	788,978,986	602,766,871	670,087,738	314,219,591	370,730,756
End of period	$973,476,209	$988,888,423	$671,310,100	$602,766,871	$372,323,555	$314,219,591

	Science & Technology Trust		Small Cap Index Trust		Small Cap Opportunities Trust
Increase (decrease) in net assets	Six months ended 6-30-21 (unaudited)	Year ended 12-31-20	Six months ended 6-30-21 (unaudited)	Year ended 12-31-20	Six months ended 6-30-21 (unaudited)	Year ended 12-31-20
From operations
Net investment income (loss)	$(3,965,709)	$(1,576,163)	$1,666,083	$3,834,516	$330,945	$631,092
Net realized gain	196,255,113	219,714,657	61,579,820	48,623,054	14,046,394	3,401,396
Change in net unrealized appreciation (depreciation)	(81,668,318)	213,312,865	40,988,588	45,051,515	18,638,284	7,941,889
Increase in net assets resulting from operations	110,621,086	431,451,359	104,234,491	97,509,085	33,015,623	11,974,377
Distributions to shareholders
From earnings
Series I	—	(80,848,453)	—	(29,595,245)	—	(4,400,886)
Series II	—	(7,556,916)	—	(2,524,960)	—	(1,638,867)
Series NAV	—	(11,723,381)	—	(12,565,959)	—	(1,594,913)
Total distributions	—	(100,128,750)	—	(44,686,164)	—	(7,634,666)
From portfolio share transactions
Portfolio share transactions	(104,891,800)	25,856,791	1,762,270	(43,859,861)	(7,074,873)	(2,886,064)
Total increase	5,729,286	357,179,400	105,996,761	8,963,060	25,940,750	1,453,647
Net assets
Beginning of period	1,166,723,648	809,544,248	606,191,573	597,228,513	141,030,293	139,576,646
End of period	$1,172,452,934	$1,166,723,648	$712,188,334	$606,191,573	$166,971,043	$141,030,293

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

Table of Contents

John Hancock Variable Insurance Trust

Statements of changes in net assets

	Small Cap Stock Trust		Small Cap Value Trust		Small Company Value Trust
Increase (decrease) in net assets	Six months ended 6-30-21 (unaudited)	Year ended 12-31-20	Six months ended 6-30-21 (unaudited)	Year ended 12-31-20	Six months ended 6-30-21 (unaudited)	Year ended 12-31-20
From operations
Net investment income (loss)	$(1,900,628)	$(2,016,006)	$1,460,275	$2,329,324	$(11,957)	$426,320
Net realized gain	78,086,494	64,963,415	37,090,159	1,044,286	11,014,419	4,982,527
Change in net unrealized appreciation (depreciation)	(59,181,956)	81,253,023	61,965,418	(37,056,292)	13,734,109	8,539,393
Increase (decrease) in net assets resulting from operations	17,003,910	144,200,432	100,515,852	(33,682,682)	24,736,571	13,948,240
Distributions to shareholders
From earnings
Series I	—	(12,335,008)	—	(19,033,726)	—	(3,126,866)
Series II	—	(4,351,340)	—	(2,483,074)	—	(2,547,886)
Series NAV	—	(23,599,592)	—	(27,951,600)	—	(3,377,586)
Total distributions	—	(40,285,940)	—	(49,468,400)	—	(9,052,338)
From portfolio share transactions
Portfolio share transactions	(18,325,328)	16,577,986	(26,047,772)	54,460,728	(6,078,954)	3,173,528
Total increase (decrease)	(1,321,418)	120,492,478	74,468,080	(28,690,354)	18,657,617	8,069,430
Net assets
Beginning of period	439,826,131	319,333,653	488,342,698	517,033,052	155,160,506	147,091,076
End of period	$438,504,713	$439,826,131	$562,810,778	$488,342,698	$173,818,123	$155,160,506

	Strategic Equity Allocation Trust		Total Stock Market Index Trust
Increase (decrease) in net assets	Six months ended 6-30-21 (unaudited)	Year ended 12-31-20	Six months ended 6-30-21 (unaudited)	Year ended 12-31-20
From operations
Net investment income	$68,856,575	$139,889,747	$3,893,297	$10,151,243
Net realized gain	838,534,763	853,833,223	47,473,411	41,921,240
Change in net unrealized appreciation (depreciation)	261,706,141	177,343,603	69,444,023	93,057,920
Increase in net assets resulting from operations	1,169,097,479	1,171,066,573	120,810,731	145,130,403
Distributions to shareholders
From earnings
Series I	—	—	—	(50,331,351)
Series II	—	—	—	(4,117,932)
Series NAV	—	(831,491,356)	—	(19,905,047)
Total distributions	—	(831,491,356)	—	(74,354,330)
From portfolio share transactions
Portfolio share transactions	(1,241,432,158)	(729,980,309)	(28,692,725)	(11,038,834)
Total increase (decrease)	(72,334,679)	(390,405,092)	92,118,006	59,737,239
Net assets
Beginning of period	9,383,355,800	9,773,760,892	816,338,741	756,601,502
End of period	$9,311,021,121	$9,383,355,800	$908,456,747	$816,338,741

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

Table of Contents

John Hancock Variable Insurance Trust

Financial highlights

Per share operating performance for a share outstanding throughout each period													Ratios and supplemental data
		Income (loss) from investment operations				Less distributions							Ratios to average net assets
Period ended	Net asset value, beginning of period ($)	Net investment income (loss) ($)¹	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	From tax return of capital ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)²	Expenses before reductions (%)	Expenses including reductions (%)	Net investment income (loss) (%)	Net assets, end of period (in millions)	Portfolio turnover (%)
500 Index Trust
Series I
06-30-2021³	43.08	0.26	6.23	6.49	—	—	—	—	49.57	15.06⁴	0.54⁵	0.30⁵	1.13⁵	4,912	1
12-31-2020	37.84	0.65	6.05	6.70	(0.71)	(0.75)	—	(1.46)	43.08	18.11	0.55	0.30	1.73	4,313	4
12-31-2019	29.81	0.64	8.52	9.16	(0.60)	(0.53)	—	(1.13)	37.84	31.05	0.55	0.30	1.84	3,797	3⁶
12-31-2018	32.20	0.60	(2.02)	(1.42)	(0.44)	(0.53)	—	(0.97)	29.81	(4.69)	0.55	0.30	1.81	3,026	4
12-31-2017	27.29	0.50	5.31	5.81	(0.52)	(0.38)	—	(0.90)	32.20	21.52	0.55	0.30	1.69	3,135	3
12-31-2016	25.26	0.50	2.40	2.90	(0.45)	(0.42)	—	(0.87)	27.29	11.59	0.54	0.30	1.91	2,529	4⁷
Series II
06-30-2021³	43.09	0.21	6.24	6.45	—	—	—	—	49.54	14.97⁴	0.74⁵	0.50⁵	0.93⁵	90	1
12-31-2020	37.87	0.58	6.02	6.60	(0.63)	(0.75)	—	(1.38)	43.09	17.83	0.75	0.50	1.53	79	4
12-31-2019	29.83	0.57	8.53	9.10	(0.53)	(0.53)	—	(1.06)	37.87	30.83	0.75	0.50	1.64	78	3⁶
12-31-2018	32.22	0.53	(2.01)	(1.48)	(0.38)	(0.53)	—	(0.91)	29.83	(4.88)	0.75	0.50	1.61	66	4
12-31-2017	27.31	0.45	5.30	5.75	(0.46)	(0.38)	—	(0.84)	32.22	21.28	0.75	0.50	1.50	74	3
12-31-2016	25.29	0.45	2.39	2.84	(0.40)	(0.42)	—	(0.82)	27.31	11.37	0.74	0.50	1.72	64	4⁷
Series NAV
06-30-2021³	43.07	0.27	6.24	6.51	—	—	—	—	49.58	15.11⁴	0.49⁵	0.25⁵	1.18⁵	2,730	1
12-31-2020	37.84	0.67	6.03	6.70	(0.72)	(0.75)	—	(1.47)	43.07	18.14	0.50	0.25	1.78	2,433	4
12-31-2019	29.80	0.66	8.52	9.18	(0.61)	(0.53)	—	(1.14)	37.84	31.16	0.50	0.25	1.90	2,229	3⁶
12-31-2018	32.19	0.61	(2.01)	(1.40)	(0.46)	(0.53)	—	(0.99)	29.80	(4.65)	0.50	0.25	1.86	1,721	4
12-31-2017	27.29	0.52	5.29	5.81	(0.53)	(0.38)	—	(0.91)	32.19	21.54	0.50	0.25	1.75	1,892	3
12-31-2016	25.26	0.51	2.40	2.91	(0.46)	(0.42)	—	(0.88)	27.29	11.64	0.49	0.25	1.96	1,641	4⁷
1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-21. Unaudited. 4 Not annualized. 5 Annualized. 6 Excludes in-kind transactions. 7 Excludes merger activity.
American Asset Allocation Trust
Series I
06-30-2021³	12.26	—^{4, 5}	1.21	1.21	—	—	—	—	13.47	9.87⁶	0.62^{7, 8}	0.62^{7, 8}	0.07^{5, 7}	364	4
12-31-2020	12.58	0.16⁵	1.22	1.38	(0.16)	(1.54)	—	(1.70)	12.26	12.02	0.63⁸	0.62⁸	1.30⁵	334	3
12-31-2019	11.84	0.19⁵	2.16	2.35	(0.16)	(1.45)	—	(1.61)	12.58	20.78	0.63⁸	0.62⁸	1.52⁵	306	7
12-31-2018	14.29	0.18⁵	(0.76)	(0.58)	(0.16)	(1.71)	—	(1.87)	11.84	(4.91)	0.63⁸	0.62⁸	1.27⁵	262	6
12-31-2017	13.36	0.17⁵	1.89	2.06	(0.16)	(0.97)	—	(1.13)	14.29	15.79	0.63⁸	0.62⁸	1.17⁵	283	6
12-31-2016	14.21	0.18⁵	1.06	1.24	(0.17)	(1.92)	—	(2.09)	13.36	8.99	0.61^{8, 9}	0.60^{8, 9}	1.29⁵	244	4
Series II
06-30-2021³	12.26	—^{4, 5}	1.21	1.21	—	—	—	—	13.47	9.87⁶	0.77^{7, 8}	0.71^{7, 8}	(0.05)^{5, 7}	945	4
12-31-2020	12.58	0.14⁵	1.23	1.37	(0.15)	(1.54)	—	(1.69)	12.26	11.92	0.78⁸	0.71⁸	1.15⁵	953	3
12-31-2019	11.84	0.17⁵	2.17	2.34	(0.15)	(1.45)	—	(1.60)	12.58	20.67	0.78⁸	0.71⁸	1.36⁵	967	7
12-31-2018	14.30	0.15⁵	(0.75)	(0.60)	(0.15)	(1.71)	—	(1.86)	11.84	(5.06)	0.78⁸	0.71⁸	1.11⁵	934	6
12-31-2017	13.37	0.14⁵	1.91	2.05	(0.15)	(0.97)	—	(1.12)	14.30	15.69	0.78⁸	0.71⁸	1.00⁵	1,141	6
12-31-2016	14.21	0.15⁵	1.08	1.23	(0.15)	(1.92)	—	(2.07)	13.37	8.92	0.76^{8, 9}	0.72^{8, 9}	1.08⁵	1,133	4
Series III
06-30-2021³	12.27	0.03⁵	1.21	1.24	—	—	—	—	13.51	10.11⁶	0.27^{7, 8}	0.27^{7, 8}	0.41^{5, 7}	130	4
12-31-2020	12.58	0.20⁵	1.23	1.43	(0.20)	(1.54)	—	(1.74)	12.27	12.45	0.28⁸	0.27⁸	1.61⁵	125	3
12-31-2019	11.84	0.23⁵	2.17	2.40	(0.21)	(1.45)	—	(1.66)	12.58	21.16	0.28⁸	0.27⁸	1.81⁵	122	7
12-31-2018	14.30	0.22⁵	(0.76)	(0.54)	(0.21)	(1.71)	—	(1.92)	11.84	(4.62)	0.28⁸	0.27⁸	1.56⁵	116	6
12-31-2017	13.36	0.21⁵	1.91	2.12	(0.21)	(0.97)	—	(1.18)	14.30	16.25	0.28⁸	0.27⁸	1.45⁵	141	6
12-31-2016	14.20	0.22⁵	1.08	1.30	(0.22)	(1.92)	—	(2.14)	13.36	9.43	0.26^{8, 9}	0.25^{8, 9}	1.55⁵	137	4
1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-21. Unaudited. 4 Less than $0.005 per share. 5 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 6 Not annualized. 7 Annualized. 8 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 9 Includes reimbursement for overbilling of custody expenses in prior years of 0.01%.

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

Table of Contents

John Hancock Variable Insurance Trust

Financial highlights

Per share operating performance for a share outstanding throughout each period													Ratios and supplemental data
		Income (loss) from investment operations				Less distributions							Ratios to average net assets
Period ended	Net asset value, beginning of period ($)	Net investment income (loss) ($)¹	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	From tax return of capital ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)²	Expenses before reductions (%)	Expenses including reductions (%)	Net investment income (loss) (%)	Net assets, end of period (in millions)	Portfolio turnover (%)
American Global Growth Trust
Series I
06-30-2021³	19.75	(0.01)⁴	2.26	2.25	—	—	—	—	22.00	11.39⁵	0.64^{6, 7}	0.63^{6, 7}	(0.06)^{4, 6}	45	7
12-31-2020	16.49	—^{4, 8}	4.76	4.76	(0.01)	(1.49)	—	(1.50)	19.75	29.96	0.65⁷	0.64⁷	(0.02)⁴	39	6
12-31-2019	13.68	0.12⁴	4.43	4.55	(0.10)	(1.64)	—	(1.74)	16.49	34.71	0.65⁷	0.64⁷	0.79⁴	27	9
12-31-2018	16.10	0.05⁴	(1.43)	(1.38)	(0.04)	(1.00)	—	(1.04)	13.68	(9.37)	0.64⁷	0.64⁷	0.29⁴	17	11
12-31-2017	13.43	0.05⁴	4.00	4.05	(0.04)	(1.34)	—	(1.38)	16.10	30.91	0.65⁷	0.64⁷	0.33⁴	19	9
12-31-2016	15.38	0.10⁴	(0.01)	0.09	(0.08)	(1.96)	—	(2.04)	13.43	0.28	0.64⁷	0.60⁷	0.69⁴	13	14
Series II
06-30-2021³	19.66	(0.02)⁴	2.26	2.24	—	—	—	—	21.90	11.39⁵	0.79^{6, 7}	0.70^{6, 7}	(0.15)^{4, 6}	175	7
12-31-2020	16.44	(0.02)⁴	4.74	4.72	(0.01)	(1.49)	—	(1.50)	19.66	29.80	0.80⁷	0.71⁷	(0.13)⁴	172	6
12-31-2019	13.64	0.09⁴	4.44	4.53	(0.09)	(1.64)	—	(1.73)	16.44	34.66	0.80⁷	0.71⁷	0.60⁴	161	9
12-31-2018	16.06	0.03⁴	(1.42)	(1.39)	(0.03)	(1.00)	—	(1.03)	13.64	(9.46)	0.79⁷	0.71⁷	0.16⁴	144	11
12-31-2017	13.39	0.03⁴	4.01	4.04	(0.03)	(1.34)	—	(1.37)	16.06	30.92	0.80⁷	0.71⁷	0.16⁴	185	9
12-31-2016	15.35	0.06⁴	—	0.06	(0.06)	(1.96)	—	(2.02)	13.39	0.10	0.79⁷	0.70⁷	0.42⁴	166	14
Series III
06-30-2021³	19.75	0.03⁴	2.26	2.29	—	—	—	—	22.04	11.59⁵	0.29^{6, 7}	0.28^{6, 7}	0.28^{4, 6}	33	7
12-31-2020	16.43	0.05⁴	4.77	4.82	(0.01)	(1.49)	—	(1.50)	19.75	30.44	0.30⁷	0.29⁷	0.30⁴	32	6
12-31-2019	13.63	0.16⁴	4.43	4.59	(0.15)	(1.64)	—	(1.79)	16.43	35.17	0.30⁷	0.29⁷	1.03⁴	30	9
12-31-2018	16.05	0.10⁴	(1.43)	(1.33)	(0.09)	(1.00)	—	(1.09)	13.63	(9.04)	0.29⁷	0.29⁷	0.60⁴	27	11
12-31-2017	13.39	0.09⁴	4.00	4.09	(0.09)	(1.34)	—	(1.43)	16.05	31.34	0.30⁷	0.29⁷	0.56⁴	32	9
12-31-2016	15.34	0.13⁴	0.01	0.14	(0.13)	(1.96)	—	(2.09)	13.39	0.63	0.29⁷	0.24⁷	0.90⁴	31	14
1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-21. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than $0.005 per share.
American Growth Trust
Series I
06-30-2021³	23.31	(0.04)⁴	3.00	2.96	—	—	—	—	26.27	12.70⁵	0.63^{6, 7}	0.62^{6, 7}	(0.36)^{4, 6}	243	8
12-31-2020	17.56	(0.01)⁴	8.58	8.57	(0.02)	(2.80)	—	(2.82)	23.31	51.52	0.63⁷	0.62⁷	(0.06)⁴	215	4
12-31-2019	16.55	0.07⁴	4.50	4.57	(0.04)	(3.52)	—	(3.56)	17.56	30.30	0.63⁷	0.63⁷	0.38⁴	148	12
12-31-2018	20.17	0.01⁴	0.32	0.33	—	(3.95)	—	(3.95)	16.55	(0.66)	0.63⁷	0.62⁷	0.06⁴	121	13
12-31-2017	18.62	0.03⁴	4.86	4.89	(0.02)	(3.32)	—	(3.34)	20.17	27.87	0.63⁷	0.62⁷	0.13⁴	130	11
12-31-2016	24.15	0.09⁴	1.89	1.98	(0.07)	(7.44)	—	(7.51)	18.62	9.08	0.62⁷	0.62⁷	0.41⁴	109	12
Series II
06-30-2021³	23.07	(0.05)⁴	2.97	2.92	—	—	—	—	25.99	12.66⁵	0.78^{6, 7}	0.68^{6, 7}	(0.43)^{4, 6}	747	8
12-31-2020	17.41	(0.03)⁴	8.51	8.48	(0.02)	(2.80)	—	(2.82)	23.07	51.46	0.78⁷	0.68⁷	(0.13)⁴	729	4
12-31-2019	16.44	0.05⁴	4.47	4.52	(0.03)	(3.52)	—	(3.55)	17.41	30.20	0.78⁷	0.69⁷	0.28⁴	619	12
12-31-2018	20.06	(0.01)⁴	0.33	0.32	—	(3.94)	—	(3.94)	16.44	(0.71)	0.78⁷	0.68⁷	(0.03)⁴	574	13
12-31-2017	18.54	0.01⁴	4.84	4.85	(0.01)	(3.32)	—	(3.33)	20.06	27.74	0.78⁷	0.68⁷	0.04⁴	688	11
12-31-2016	24.08	0.07⁴	1.89	1.96	(0.06)	(7.44)	—	(7.50)	18.54	9.03	0.77⁷	0.68⁷	0.32⁴	658	12
Series III
06-30-2021³	23.19	—^{4, 8}	2.99	2.99	—	—	—	—	26.18	12.89⁵	0.28^{6, 7}	0.27^{6, 7}	(0.02)^{4, 6}	106	8
12-31-2020	17.43	0.05⁴	8.53	8.58	(0.02)	(2.80)	—	(2.82)	23.19	51.98	0.28⁷	0.27⁷	0.28⁴	103	4
12-31-2019	16.44	0.12⁴	4.49	4.61	(0.10)	(3.52)	—	(3.62)	17.43	30.80	0.28⁷	0.28⁷	0.70⁴	91	12
12-31-2018	20.06	0.08⁴	0.32	0.40	(0.05)	(3.97)	—	(4.02)	16.44	(0.28)	0.28⁷	0.27⁷	0.38⁴	83	13
12-31-2017	18.54	0.09⁴	4.84	4.93	(0.09)	(3.32)	—	(3.41)	20.06	28.22	0.28⁷	0.27⁷	0.44⁴	98	11
12-31-2016	24.07	0.16⁴	1.90	2.06	(0.15)	(7.44)	—	(7.59)	18.54	9.48	0.27⁷	0.27⁷	0.75⁴	94	12
1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-21. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Less than $0.005 per share.

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

Table of Contents

John Hancock Variable Insurance Trust

Financial highlights

Per share operating performance for a share outstanding throughout each period													Ratios and supplemental data
		Income (loss) from investment operations				Less distributions							Ratios to average net assets
Period ended	Net asset value, beginning of period ($)	Net investment income (loss) ($)¹	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	From tax return of capital ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)²	Expenses before reductions (%)	Expenses including reductions (%)	Net investment income (loss) (%)	Net assets, end of period (in millions)	Portfolio turnover (%)
American Growth-Income Trust
Series I
06-30-2021³	15.87	0.02⁴	2.19	2.21	—	—	—	—	18.08	13.93⁵	0.63^{6, 7}	0.62^{6, 7}	0.22^{4, 6}	325	1
12-31-2020	16.38	0.15⁴	1.75	1.90	(0.16)	(2.25)	—	(2.41)	15.87	13.11	0.63⁷	0.62⁷	0.97⁴	298	8
12-31-2019	15.03	0.21⁴	3.45	3.66	(0.17)	(2.14)	—	(2.31)	16.38	25.70	0.63⁷	0.62⁷	1.28⁴	288	13
12-31-2018	17.69	0.17⁴	(0.32)	(0.15)	(0.17)	(2.34)	—	(2.51)	15.03	(2.18)	0.63⁷	0.62⁷	0.97⁴	240	11
12-31-2017	17.58	0.18⁴	3.37	3.55	(0.17)	(3.27)	—	(3.44)	17.69	22.03	0.63⁷	0.62⁷	1.00⁴	275	8
12-31-2016	21.16	0.22⁴	1.94	2.16	(0.19)	(5.55)	—	(5.74)	17.58	11.10	0.62⁷	0.61⁷	1.10⁴	247	13
Series II
06-30-2021³	15.79	0.01⁴	2.18	2.19	—	—	—	—	17.98	13.87⁵	0.78^{6, 7}	0.70^{6, 7}	0.12^{4, 6}	542	1
12-31-2020	16.31	0.14⁴	1.74	1.88	(0.15)	(2.25)	—	(2.40)	15.79	13.02	0.78⁷	0.70⁷	0.88⁴	528	8
12-31-2019	14.97	0.18⁴	3.46	3.64	(0.16)	(2.14)	—	(2.30)	16.31	25.64	0.78⁷	0.70⁷	1.13⁴	518	13
12-31-2018	17.63	0.15⁴	(0.31)	(0.16)	(0.16)	(2.34)	—	(2.50)	14.97	(2.27)	0.78⁷	0.70⁷	0.85⁴	492	11
12-31-2017	17.54	0.16⁴	3.35	3.51	(0.15)	(3.27)	—	(3.42)	17.63	21.89	0.78⁷	0.70⁷	0.87⁴	594	8
12-31-2016	21.12	0.19⁴	1.96	2.15	(0.18)	(5.55)	—	(5.73)	17.54	11.06	0.77⁷	0.69⁷	0.97⁴	585	13
Series III
06-30-2021³	15.83	0.05⁴	2.19	2.24	—	—	—	—	18.07	14.15⁵	0.28^{6, 7}	0.27^{6, 7}	0.56^{4, 6}	215	1
12-31-2020	16.34	0.21⁴	1.74	1.95	(0.21)	(2.25)	—	(2.46)	15.83	13.47	0.28⁷	0.27⁷	1.32⁴	208	8
12-31-2019	14.99	0.26⁴	3.46	3.72	(0.23)	(2.14)	—	(2.37)	16.34	26.16	0.28⁷	0.27⁷	1.58⁴	202	13
12-31-2018	17.65	0.23⁴	(0.32)	(0.09)	(0.23)	(2.34)	—	(2.57)	14.99	(1.82)	0.28⁷	0.27⁷	1.30⁴	189	11
12-31-2017	17.55	0.24⁴	3.36	3.60	(0.23)	(3.27)	—	(3.50)	17.65	22.39	0.28⁷	0.27⁷	1.30⁴	222	8
12-31-2016	21.12	0.28⁴	1.96	2.24	(0.26)	(5.55)	—	(5.81)	17.55	11.54	0.27⁷	0.26⁷	1.42⁴	218	13
1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-21. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.
American International Trust
Series I
06-30-2021³	21.41	(0.06)⁴	1.00	0.94	—	—	—	—	22.35	4.39⁵	0.63^{6, 7}	0.62^{6, 7}	(0.51)^{4, 6}	162	2
12-31-2020	19.83	0.06⁴	2.46	2.52	(0.07)	(0.87)	—	(0.94)	21.41	13.56	0.64⁷	0.63⁷	0.32⁴	170	10
12-31-2019	17.67	0.22⁴	3.56	3.78	(0.18)	(1.44)	—	(1.62)	19.83	22.40	0.64⁷	0.63⁷	1.12⁴	137	10
12-31-2018	21.93	0.28⁴	(3.14)	(2.86)	(0.27)	(1.13)	—	(1.40)	17.67	(13.46)	0.63⁷	0.62⁷	1.32⁴	119	20
12-31-2017	17.71	0.19⁴	5.34	5.53	(0.18)	(1.13)	—	(1.31)	21.93	31.65	0.63⁷	0.62⁷	0.90⁴	132	9
12-31-2016	17.35	0.17⁴	0.37	0.54	(0.18)	—	—	(0.18)	17.71	3.12	0.63⁷	0.62⁷	0.99⁴	93	17
Series II
06-30-2021³	21.39	(0.07)⁴	1.00	0.93	—	—	—	—	22.32	4.35⁵	0.78^{6, 7}	0.75^{6, 7}	(0.64)^{4, 6}	313	2
12-31-2020	19.82	0.03⁴	2.46	2.49	(0.05)	(0.87)	—	(0.92)	21.39	13.40	0.79⁷	0.76⁷	0.16⁴	317	10
12-31-2019	17.66	0.17⁴	3.59	3.76	(0.16)	(1.44)	—	(1.60)	19.82	22.27	0.79⁷	0.76⁷	0.88⁴	310	10
12-31-2018	21.92	0.24⁴	(3.13)	(2.89)	(0.24)	(1.13)	—	(1.37)	17.66	(13.59)	0.78⁷	0.75⁷	1.11⁴	300	20
12-31-2017	17.70	0.14⁴	5.36	5.50	(0.15)	(1.13)	—	(1.28)	21.92	31.49	0.78⁷	0.75⁷	0.69⁴	381	9
12-31-2016	17.34	0.14⁴	0.37	0.51	(0.15)	—	—	(0.15)	17.70	2.97	0.78⁷	0.75⁷	0.82⁴	361	17
Series III
06-30-2021³	21.34	(0.02)⁴	0.99	0.97	—	—	—	—	22.31	4.55⁵	0.28^{6, 7}	0.27^{6, 7}	(0.16)^{4, 6}	38	2
12-31-2020	19.75	0.12⁴	2.47	2.59	(0.13)	(0.87)	—	(1.00)	21.34	13.98	0.29⁷	0.28⁷	0.64⁴	38	10
12-31-2019	17.59	0.26⁴	3.59	3.85	(0.25)	(1.44)	—	(1.69)	19.75	22.89	0.29⁷	0.28⁷	1.38⁴	37	10
12-31-2018	21.86	0.34⁴	(3.14)	(2.80)	(0.34)	(1.13)	—	(1.47)	17.59	(13.20)	0.28⁷	0.27⁷	1.61⁴	35	20
12-31-2017	17.65	0.24⁴	5.35	5.59	(0.25)	(1.13)	—	(1.38)	21.86	32.12	0.28⁷	0.27⁷	1.16⁴	43	9
12-31-2016	17.29	0.23⁴	0.37	0.60	(0.24)	—	—	(0.24)	17.65	3.49	0.28⁷	0.27⁷	1.33⁴	41	17
1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-21. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.

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

Table of Contents

John Hancock Variable Insurance Trust

Financial highlights

Per share operating performance for a share outstanding throughout each period													Ratios and supplemental data
		Income (loss) from investment operations				Less distributions							Ratios to average net assets
Period ended	Net asset value, beginning of period ($)	Net investment income (loss) ($)¹	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	From tax return of capital ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)²	Expenses before reductions (%)	Expenses including reductions (%)	Net investment income (loss) (%)	Net assets, end of period (in millions)	Portfolio turnover (%)
Blue Chip Growth Trust
Series I
06-30-2021³	40.21	(0.09)	5.08	4.99	—	—	—	—	45.20	12.41⁴	0.82⁵	0.78⁵	(0.43)⁵	405	16
12-31-2020	34.45	(0.11)	11.57	11.46	—	(5.70)	—	(5.70)	40.21	34.30	0.83	0.80	(0.28)	383	24
12-31-2019	30.96	(0.02)	8.82	8.80	—	(5.31)	—	(5.31)	34.45	29.80	0.84	0.81	(0.04)	325	29
12-31-2018	34.92	(0.01)	1.32	1.31	(0.01)	(5.26)	—	(5.27)	30.96	1.97	0.84	0.80	(0.02)	289	35
12-31-2017	27.45	(0.01)	9.74	9.73	(0.02)	(2.24)	—	(2.26)	34.92	36.28	0.85	0.82	(0.02)	323	25
12-31-2016	32.45	0.02	0.17	0.19	—⁶	(5.19)	—	(5.19)	27.45	0.81	0.85⁷	0.82⁷	0.07	270	30
Series II
06-30-2021³	38.48	(0.12)	4.84	4.72	—	—	—	—	43.20	12.27⁴	1.02⁵	0.98⁵	(0.63)⁵	153	16
12-31-2020	33.22	(0.17)	11.13	10.96	—	(5.70)	—	(5.70)	38.48	34.06	1.03	1.00	(0.48)	150	24
12-31-2019	30.07	(0.08)	8.54	8.46	—	(5.31)	—	(5.31)	33.22	29.53	1.04	1.01	(0.24)	134	29
12-31-2018	34.10	(0.08)	1.31	1.23	—	(5.26)	—	(5.26)	30.07	1.78	1.04	1.00	(0.22)	123	35
12-31-2017	26.89	(0.07)	9.52	9.45	—	(2.24)	—	(2.24)	34.10	35.96	1.05	1.02	(0.22)	132	25
12-31-2016	31.95	(0.04)	0.17	0.13	—	(5.19)	—	(5.19)	26.89	0.62	1.05⁷	1.01⁷	(0.13)	115	30
Series NAV
06-30-2021³	40.27	(0.08)	5.08	5.00	—	—	—	—	45.27	12.42⁴	0.77⁵	0.73⁵	(0.38)⁵	1,902	16
12-31-2020	34.47	(0.09)	11.59	11.50	—	(5.70)	—	(5.70)	40.27	34.40	0.78	0.75	(0.23)	1,823	24
12-31-2019	30.97	—⁶	8.81	8.81	—⁶	(5.31)	—	(5.31)	34.47	29.83	0.79	0.76	0.01	1,708	29
12-31-2018	34.92	0.01	1.32	1.33	(0.02)	(5.26)	—	(5.28)	30.97	2.03	0.79	0.75	0.04	1,512	35
12-31-2017	27.45	0.01	9.74	9.75	(0.04)	(2.24)	—	(2.28)	34.92	36.34	0.80	0.77	0.03	1,342	25
12-31-2016	32.45	0.04	0.17	0.21	(0.02)	(5.19)	—	(5.21)	27.45	0.85	0.80⁷	0.76⁷	0.12	1,182	30
1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-21. Unaudited. 4 Not annualized. 5 Annualized. 6 Less than $0.005 per share. 7 Includes reimbursement for overbilling of custody expenses in prior years of 0.01%.
Capital Appreciation Trust
Series I
06-30-2021³	7.60	(0.02)	0.79	0.77	—	—	—	—	8.37	10.13⁴	0.79⁵	0.78⁵	(0.47)⁵	274	24
12-31-2020	5.39	(0.02)	2.96	2.94	—	(0.73)	—	(0.73)	7.60	56.04	0.80	0.79	(0.32)	272	56
12-31-2019	12.09	(0.01)	2.92	2.91	(0.01)	(9.60)	—	(9.61)	5.39	32.89	0.81	0.81	(0.06)	195	40
12-31-2018	14.65	0.02	0.23	0.25	(0.04)	(2.77)	—	(2.81)	12.09	(0.80)	0.80	0.79	0.13	169	37
12-31-2017	11.69	—⁶	4.15	4.15	(0.01)	(1.18)	—	(1.19)	14.65	36.53	0.80	0.79	0.03	192	47
12-31-2016	14.12	0.01	(0.14)	(0.13)	—	(2.30)	—	(2.30)	11.69	(1.08)	0.77⁷	0.76⁷	0.08	164	45
Series II
06-30-2021³	6.57	(0.02)	0.68	0.66	—	—	—	—	7.23	10.05⁴	0.99⁵	0.98⁵	(0.67)⁵	89	24
12-31-2020	4.74	(0.03)	2.59	2.56	—	(0.73)	—	(0.73)	6.57	55.70	1.00	0.99	(0.52)	89	56
12-31-2019	11.61	(0.02)	2.75	2.73	—⁶	(9.60)	—	(9.60)	4.74	32.65	1.01	1.01	(0.26)	66	40
12-31-2018	14.16	(0.01)	0.24	0.23	(0.01)	(2.77)	—	(2.78)	11.61	(0.99)	1.00	0.99	(0.07)	58	37
12-31-2017	11.35	(0.02)	4.01	3.99	—	(1.18)	—	(1.18)	14.16	36.20	1.00	0.99	(0.17)	66	47
12-31-2016	13.80	(0.02)	(0.13)	(0.15)	—	(2.30)	—	(2.30)	11.35	(1.26)	0.97⁷	0.96⁷	(0.12)	58	45
Series NAV
06-30-2021³	7.66	(0.02)	0.79	0.77	—	—	—	—	8.43	10.05⁴	0.74⁵	0.73⁵	(0.42)⁵	404	24
12-31-2020	5.42	(0.02)	2.99	2.97	—	(0.73)	—	(0.73)	7.66	56.29	0.75	0.74	(0.27)	382	56
12-31-2019	12.11	—⁶	2.92	2.92	(0.01)	(9.60)	—	(9.61)	5.42	32.88	0.76	0.76	(0.01)	282	40
12-31-2018	14.67	0.03	0.23	0.26	(0.05)	(2.77)	—	(2.82)	12.11	(0.72)	0.75	0.74	0.20	281	37
12-31-2017	11.71	0.01	4.15	4.16	(0.02)	(1.18)	—	(1.20)	14.67	36.51	0.75	0.74	0.08	798	47
12-31-2016	14.13	0.02	(0.14)	(0.12)	—⁶	(2.30)	—	(2.30)	11.71	(1.00)	0.72⁷	0.71⁷	0.12	718	45
1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-21. Unaudited. 4 Not annualized. 5 Annualized. 6 Less than $0.005 per share. 7 Includes reimbursement for overbilling of custody expenses in prior years of 0.03%.

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

Table of Contents

John Hancock Variable Insurance Trust

Financial highlights

Per share operating performance for a share outstanding throughout each period													Ratios and supplemental data
		Income (loss) from investment operations				Less distributions							Ratios to average net assets
Period ended	Net asset value, beginning of period ($)	Net investment income (loss) ($)¹	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	From tax return of capital ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)²	Expenses before reductions (%)	Expenses including reductions (%)	Net investment income (loss) (%)	Net assets, end of period (in millions)	Portfolio turnover (%)
Capital Appreciation Value Trust
Series I
06-30-2021³	13.39	0.05	1.26	1.31	—	—	—	—	14.70	9.78⁴	0.92⁵	0.88⁵	0.71⁵	10	34
12-31-2020	12.55	0.11	1.98	2.09	(0.15)	(1.10)	—	(1.25)	13.39	17.40	0.94	0.90	0.85	6	88
12-31-2019	10.92	0.16	2.44	2.60	(0.17)	(0.80)	—	(0.97)	12.55	24.31	0.93	0.89	1.33	8	45
12-31-2018	11.98	0.28⁶	(0.18)	0.10	(0.25)	(0.91)	—	(1.16)	10.92	0.39	0.92	0.88	2.35⁶	4	78
12-31-2017	11.08	0.13	1.52	1.65	(0.17)	(0.58)	—	(0.75)	11.98	15.15	0.92	0.88	1.12	4	64
12-31-2016	11.47	0.17	0.76	0.93	(0.15)	(1.17)	—	(1.32)	11.08	8.12	0.91	0.87	1.50	3	68
Series II
06-30-2021³	13.32	0.03	1.26	1.29	—	—	—	—	14.61	9.68⁴	1.12⁵	1.08⁵	0.50⁵	284	34
12-31-2020	12.49	0.09	1.96	2.05	(0.12)	(1.10)	—	(1.22)	13.32	17.19	1.14	1.10	0.68	287	88
12-31-2019	10.87	0.14	2.42	2.56	(0.14)	(0.80)	—	(0.94)	12.49	24.10	1.13	1.09	1.17	278	45
12-31-2018	11.94	0.26⁶	(0.19)	0.07	(0.23)	(0.91)	—	(1.14)	10.87	0.11	1.12	1.08	2.15⁶	259	78
12-31-2017	11.04	0.11	1.52	1.63	(0.15)	(0.58)	—	(0.73)	11.94	14.99	1.12	1.08	0.92	305	64
12-31-2016	11.44	0.14	0.76	0.90	(0.13)	(1.17)	—	(1.30)	11.04	7.84	1.11	1.07	1.25	305	68
Series NAV
06-30-2021³	13.35	0.05	1.26	1.31	—	—	—	—	14.66	9.81⁴	0.87⁵	0.83⁵	0.75⁵	182	34
12-31-2020	12.52	0.12	1.96	2.08	(0.15)	(1.10)	—	(1.25)	13.35	17.42	0.89	0.85	0.93	156	88
12-31-2019	10.89	0.17	2.43	2.60	(0.17)	(0.80)	—	(0.97)	12.52	24.44	0.88	0.84	1.41	127	45
12-31-2018	11.95	0.29⁶	(0.18)	0.11	(0.26)	(0.91)	—	(1.17)	10.89	0.45	0.87	0.83	2.40⁶	91	78
12-31-2017	11.06	0.14	1.51	1.65	(0.18)	(0.58)	—	(0.76)	11.95	15.14	0.87	0.83	1.17	92	64
12-31-2016	11.45	0.18	0.75	0.93	(0.15)	(1.17)	—	(1.32)	11.06	8.19	0.86	0.82	1.54	75	68
1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-21. Unaudited. 4 Not annualized. 5 Annualized. 6 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the portfolio, which amounted to $0.12 and 1.00%, respectively.
Disciplined Value International Trust
Series I
06-30-2021³	13.05	0.28	1.26	1.54	—	—	—	—	14.59	11.80⁴	0.92⁵	0.91⁵	3.55⁵	81	36
12-31-2020	12.92	0.21	0.17	0.38	(0.25)	—	—	(0.25)	13.05	3.27	0.94	0.94	1.85	77	190⁶
12-31-2019	11.84	0.30	1.13	1.43	(0.35)	—	—	(0.35)	12.92	12.33	0.94	0.94	2.39	83	36
12-31-2018	14.33	0.26	(2.41)	(2.15)	(0.34)	—	—	(0.34)	11.84	(15.03)	0.92	0.91	1.87	84	34
12-31-2017	12.45	0.25	1.89	2.14	(0.26)	—	—	(0.26)	14.33	17.14	0.93	0.92	1.84	113	27
12-31-2016	11.33	0.23	1.15	1.38	(0.26)	—	—	(0.26)	12.45	12.24	0.76⁷	0.75⁷	1.95	111	27⁸
Series II
06-30-2021³	13.04	0.26	1.26	1.52	—	—	—	—	14.56	11.66⁴	1.12⁵	1.11⁵	3.36⁵	48	36
12-31-2020	12.91	0.19	0.17	0.36	(0.23)	—	—	(0.23)	13.04	3.07	1.14	1.14	1.65	46	190⁶
12-31-2019	11.83	0.27	1.14	1.41	(0.33)	—	—	(0.33)	12.91	12.13	1.14	1.14	2.19	50	36
12-31-2018	14.32	0.23	(2.40)	(2.17)	(0.32)	—	—	(0.32)	11.83	(15.17)	1.12	1.11	1.67	50	34
12-31-2017	12.44	0.23	1.88	2.11	(0.23)	—	—	(0.23)	14.32	16.88	1.13	1.12	1.65	69	27
12-31-2016	11.33	0.21	1.14	1.35	(0.24)	—	—	(0.24)	12.44	11.94	0.95⁷	0.94⁷	1.83	71	27⁸
Series NAV
06-30-2021³	12.94	0.28	1.25	1.53	—	—	—	—	14.47	11.82⁴	0.87⁵	0.86⁵	3.61⁵	194	36
12-31-2020	12.82	0.21	0.16	0.37	(0.25)	—	—	(0.25)	12.94	3.27	0.89	0.89	1.90	178	190⁶
12-31-2019	11.75	0.30	1.13	1.43	(0.36)	—	—	(0.36)	12.82	12.41	0.89	0.89	2.41	177	36
12-31-2018	14.22	0.27	(2.39)	(2.12)	(0.35)	—	—	(0.35)	11.75	(14.96)	0.87	0.86	1.98	167	34
12-31-2017	12.35	0.26	1.87	2.13	(0.26)	—	—	(0.26)	14.22	17.25	0.88	0.87	1.89	686	27
12-31-2016	11.25	0.25	1.11	1.36	(0.26)	—	—	(0.26)	12.35	12.20	0.69⁷	0.68⁷	2.16	677	27⁸
1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-21. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. 7 Includes reimbursement for overbilling of custody expenses in prior years of 0.17%. 8 Excludes merger activity.

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

Table of Contents

John Hancock Variable Insurance Trust

Financial highlights

Per share operating performance for a share outstanding throughout each period													Ratios and supplemental data
		Income (loss) from investment operations				Less distributions							Ratios to average net assets
Period ended	Net asset value, beginning of period ($)	Net investment income (loss) ($)¹	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	From tax return of capital ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)²	Expenses before reductions (%)	Expenses including reductions (%)	Net investment income (loss) (%)	Net assets, end of period (in millions)	Portfolio turnover (%)
Emerging Markets Value Trust
Series I
06-30-2021³	9.67	0.11	1.45	1.56	—	—	—	—	11.23	16.13⁴	1.10⁵	1.09⁵	2.17⁵	7	10
12-31-2020	9.57	0.16	0.14	0.30	(0.20)	—	—	(0.20)	9.67	3.56	1.21	1.20	1.99	6	26
12-31-2019	8.93	0.16	0.78	0.94	(0.30)	—	—	(0.30)	9.57	10.94	1.18	1.17	1.79	6	23
12-31-2018	10.63	0.19	(1.63)	(1.44)	(0.26)	—	—	(0.26)	8.93	(13.60)	1.12	1.12	1.91	7	14
12-31-2017	8.14	0.13	2.52	2.65	(0.16)	—	—	(0.16)	10.63	32.70	1.12	1.12	1.30	8	28⁶
12-31-2016	7.04	0.12	1.15	1.27	(0.17)	—	—	(0.17)	8.14	18.00	1.13	1.12	1.51	3	22
Series II
06-30-2021³	9.67	0.10	1.45	1.55	—	—	—	—	11.22	16.03⁴	1.30⁵	1.29⁵	1.94⁵	36	10
12-31-2020	9.57	0.15	0.14	0.29	(0.19)	—	—	(0.19)	9.67	3.36	1.41	1.40	1.82	33	26
12-31-2019	8.93	0.15	0.77	0.92	(0.28)	—	—	(0.28)	9.57	10.71	1.38	1.37	1.64	35	23
12-31-2018	10.63	0.17	(1.63)	(1.46)	(0.24)	—	—	(0.24)	8.93	(13.79)	1.32	1.32	1.72	35	14
12-31-2017	8.14	(0.02)	2.65	2.63	(0.14)	—	—	(0.14)	10.63	32.47	1.32	1.32	(0.19)	48	28⁶
12-31-2016	7.05	0.10	1.14	1.24	(0.15)	—	—	(0.15)	8.14	17.62	1.33	1.32	1.33	—⁷	22
Series NAV
06-30-2021³	9.65	0.12	1.44	1.56	—	—	—	—	11.21	16.05⁴	1.05⁵	1.04⁵	2.24⁵	225	10
12-31-2020	9.55	0.17	0.14	0.31	(0.21)	—	—	(0.21)	9.65	3.72	1.16	1.15	2.07	194	26
12-31-2019	8.92	0.17	0.76	0.93	(0.30)	—	—	(0.30)	9.55	10.89	1.13	1.12	1.87	193	23
12-31-2018	10.61	0.21	(1.63)	(1.42)	(0.27)	—	—	(0.27)	8.92	(13.48)	1.07	1.07	2.04	168	14
12-31-2017	8.13	0.16	2.49	2.65	(0.17)	—	—	(0.17)	10.61	32.67	1.07	1.07	1.68	724	28⁶
12-31-2016	7.03	0.12	1.15	1.27	(0.17)	—	—	(0.17)	8.13	18.08	1.07	1.06	1.67	608	22
1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-21. Unaudited. 4 Not annualized. 5 Annualized. 6 Excludes merger activity. 7 Less than $500,000.
Equity Income Trust
Series I
06-30-2021³	13.79	0.13	2.39	2.52	—	—	—	—	16.31	18.27⁴	0.77⁵	0.74⁵	1.69⁵	255	13
12-31-2020	15.35	0.30	(0.40)	(0.10)	(0.41)	(1.05)	—	(1.46)	13.79	1.02	0.79	0.76	2.32	225	28
12-31-2019	13.65	0.35	3.07	3.42	(0.31)	(1.41)	—	(1.72)	15.35	26.34	0.80	0.77	2.30	255	18⁶
12-31-2018	17.50	0.35	(1.74)	(1.39)	(0.30)	(2.16)	—	(2.46)	13.65	(9.58)	0.81	0.78	2.12	215	18
12-31-2017	16.67	0.32	2.24	2.56	(0.39)	(1.34)	—	(1.73)	17.50	16.29	0.82	0.78	1.88	276	21
12-31-2016	15.79	0.42	2.47	2.89	(0.36)	(1.65)	—	(2.01)	16.67	19.12	0.81⁷	0.77⁷	2.59	272	28
Series II
06-30-2021³	13.70	0.11	2.38	2.49	—	—	—	—	16.19	18.18⁴	0.97⁵	0.94⁵	1.48⁵	134	13
12-31-2020	15.27	0.27	(0.40)	(0.13)	(0.39)	(1.05)	—	(1.44)	13.70	0.75	0.99	0.96	2.11	120	28
12-31-2019	13.58	0.31	3.07	3.38	(0.28)	(1.41)	—	(1.69)	15.27	26.17	1.00	0.97	2.10	137	18⁶
12-31-2018	17.42	0.32	(1.73)	(1.41)	(0.27)	(2.16)	—	(2.43)	13.58	(9.75)	1.01	0.98	1.92	111	18
12-31-2017	16.61	0.29	2.21	2.50	(0.35)	(1.34)	—	(1.69)	17.42	16.00	1.02	0.98	1.68	145	21
12-31-2016	15.74	0.38	2.46	2.84	(0.32)	(1.65)	—	(1.97)	16.61	18.91	1.01⁷	0.97⁷	2.39	148	28
Series NAV
06-30-2021³	13.70	0.13	2.38	2.51	—	—	—	—	16.21	18.32⁴	0.72⁵	0.69⁵	1.73⁵	1,272	13
12-31-2020	15.27	0.31	(0.41)	(0.10)	(0.42)	(1.05)	—	(1.47)	13.70	1.01	0.74	0.71	2.38	1,139	28
12-31-2019	13.58	0.35	3.07	3.42	(0.32)	(1.41)	—	(1.73)	15.27	26.47	0.75	0.72	2.34	1,304	18⁶
12-31-2018	17.42	0.36	(1.73)	(1.37)	(0.31)	(2.16)	—	(2.47)	13.58	(9.52)	0.76	0.73	2.18	1,149	18
12-31-2017	16.61	0.33	2.22	2.55	(0.40)	(1.34)	—	(1.74)	17.42	16.28	0.77	0.73	1.93	1,393	21
12-31-2016	15.74	0.42	2.46	2.88	(0.36)	(1.65)	—	(2.01)	16.61	19.18	0.76⁷	0.72⁷	2.63	1,400	28
1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-21. Unaudited. 4 Not annualized. 5 Annualized. 6 Excludes merger activity. 7 Includes reimbursement for overbilling of custody expenses in prior years of 0.03%.

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

Table of Contents

John Hancock Variable Insurance Trust

Financial highlights

Per share operating performance for a share outstanding throughout each period													Ratios and supplemental data
		Income (loss) from investment operations				Less distributions							Ratios to average net assets
Period ended	Net asset value, beginning of period ($)	Net investment income (loss) ($)¹	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	From tax return of capital ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)²	Expenses before reductions (%)	Expenses including reductions (%)	Net investment income (loss) (%)	Net assets, end of period (in millions)	Portfolio turnover (%)
Financial Industries Trust
Series I
06-30-2021³	12.79	0.07	2.27	2.34	—	—	—	—	15.13	18.30⁴	0.91⁵	0.90⁵	0.99⁵	117	35
12-31-2020	14.08	0.14	(0.06)	0.08	(0.17)	(1.20)	—	(1.37)	12.79	2.17	0.94	0.93	1.15	93	44
12-31-2019	11.90	0.21	3.39	3.60	(0.60)	(0.82)	—	(1.42)	14.08	31.79	0.91	0.90	1.53	113	28
12-31-2018	14.99	0.20	(2.15)	(1.95)	(0.18)	(0.96)	—	(1.14)	11.90	(14.49)	0.89	0.88	1.34	120	25
12-31-2017	13.16	0.17	1.83	2.00	(0.17)	—	—	(0.17)	14.99	15.28	0.88	0.87	1.20	170	42
12-31-2016	11.18	0.18	1.97	2.15	(0.17)	—	—	(0.17)	13.16	19.37	0.88	0.87	1.66	162	45
Series II
06-30-2021³	12.67	0.06	2.24	2.30	—	—	—	—	14.97	18.15⁴	1.11⁵	1.10⁵	0.80⁵	21	35
12-31-2020	13.96	0.11	(0.05)	0.06	(0.15)	(1.20)	—	(1.35)	12.67	1.99	1.14	1.13	0.95	15	44
12-31-2019	11.79	0.18	3.36	3.54	(0.55)	(0.82)	—	(1.37)	13.96	31.51	1.11	1.10	1.32	17	28
12-31-2018	14.88	0.17	(2.13)	(1.96)	(0.17)	(0.96)	—	(1.13)	11.79	(14.62)	1.09	1.08	1.14	15	25
12-31-2017	13.07	0.14	1.81	1.95	(0.14)	—	—	(0.14)	14.88	15.02	1.08	1.07	0.99	19	42
12-31-2016	11.10	0.16	1.96	2.12	(0.15)	—	—	(0.15)	13.07	19.21	1.08	1.07	1.48	21	45
Series NAV
06-30-2021³	12.75	0.07	2.25	2.32	—	—	—	—	15.07	18.20⁴	0.86⁵	0.85⁵	1.04⁵	32	35
12-31-2020	14.03	0.14	(0.04)	0.10	(0.18)	(1.20)	—	(1.38)	12.75	2.31	0.89	0.88	1.20	25	44
12-31-2019	11.88	0.21	3.38	3.59	(0.62)	(0.82)	—	(1.44)	14.03	31.71	0.86	0.85	1.57	28	28
12-31-2018	14.95	0.21	(2.14)	(1.93)	(0.18)	(0.96)	—	(1.14)	11.88	(14.38)	0.84	0.83	1.39	29	25
12-31-2017	13.13	0.17	1.83	2.00	(0.18)	—	—	(0.18)	14.95	15.29	0.83	0.82	1.25	48	42
12-31-2016	11.15	0.19	1.96	2.15	(0.17)	—	—	(0.17)	13.13	19.47	0.83	0.82	1.72	26	45
1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-21. Unaudited. 4 Not annualized. 5 Annualized.
Fundamental All Cap Core Trust
Series I
06-30-2021³	30.15	0.02	6.04	6.06	—	—	—	—	36.21	20.10⁴	0.76⁵	0.75⁵	0.12⁵	132	5
12-31-2020	24.56	0.06	6.42	6.48	(0.10)	(0.79)	—	(0.89)	30.15	26.87	0.76	0.76	0.26	120	19
12-31-2019	19.64	0.11	6.79	6.90	(0.10)	(1.88)	—	(1.98)	24.56	36.45	0.77	0.76	0.48	119	15
12-31-2018	25.83	0.09	(2.79)	(2.70)	(0.10)	(3.39)	—	(3.49)	19.64	(13.16)	0.76	0.76	0.36	122	24
12-31-2017	20.89	0.11	5.58	5.69	(0.18)	(0.57)	—	(0.75)	25.83	27.70	0.76	0.76	0.46	172	42
12-31-2016	22.30	0.15	1.58	1.73	(0.12)	(3.02)	—	(3.14)	20.89	8.34	0.75	0.75	0.73	146	26
Series II
06-30-2021³	30.06	(0.01)	6.01	6.00	—	—	—	—	36.06	19.96⁴	0.96⁵	0.95⁵	(0.08)⁵	59	5
12-31-2020	24.49	0.01	6.40	6.41	(0.05)	(0.79)	—	(0.84)	30.06	26.65	0.96	0.96	0.05	51	19
12-31-2019	19.59	0.06	6.78	6.84	(0.06)	(1.88)	—	(1.94)	24.49	36.18	0.97	0.96	0.28	49	15
12-31-2018	25.77	0.04	(2.78)	(2.74)	(0.05)	(3.39)	—	(3.44)	19.59	(13.34)	0.96	0.96	0.17	41	24
12-31-2017	20.84	0.06	5.58	5.64	(0.14)	(0.57)	—	(0.71)	25.77	27.43	0.96	0.96	0.27	54	42
12-31-2016	22.23	0.11	1.56	1.67	(0.04)	(3.02)	—	(3.06)	20.84	8.12	0.95	0.95	0.53	49	26
Series NAV
06-30-2021³	30.34	0.03	6.08	6.11	—	—	—	—	36.45	20.10⁴	0.71⁵	0.70⁵	0.17⁵	2,337	5
12-31-2020	24.71	0.08	6.45	6.53	(0.11)	(0.79)	—	(0.90)	30.34	26.97	0.71	0.71	0.30	2,017	19
12-31-2019	19.74	0.12	6.84	6.96	(0.11)	(1.88)	—	(1.99)	24.71	36.58	0.72	0.71	0.52	1,700	15
12-31-2018	25.96	0.11	(2.82)	(2.71)	(0.12)	(3.39)	—	(3.51)	19.74	(13.16)	0.71	0.71	0.42	1,347	24
12-31-2017	20.98	0.12	5.62	5.74	(0.19)	(0.57)	—	(0.76)	25.96	27.77	0.71	0.71	0.51	1,662	42
12-31-2016	22.40	0.16	1.58	1.74	(0.14)	(3.02)	—	(3.16)	20.98	8.40	0.71	0.70	0.78	1,403	26
1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-21. Unaudited. 4 Not annualized. 5 Annualized.

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

Table of Contents

John Hancock Variable Insurance Trust

Financial highlights

Per share operating performance for a share outstanding throughout each period													Ratios and supplemental data
		Income (loss) from investment operations				Less distributions							Ratios to average net assets
Period ended	Net asset value, beginning of period ($)	Net investment income (loss) ($)¹	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	From tax return of capital ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)²	Expenses before reductions (%)	Expenses including reductions (%)	Net investment income (loss) (%)	Net assets, end of period (in millions)	Portfolio turnover (%)
Fundamental Large Cap Value Trust
Series I
06-30-2021³	25.10	0.12	5.43	5.55	—	—	—	—	30.65	22.11⁴	0.77⁵	0.76⁵	0.86⁵	473	22
12-31-2020	23.13	0.21	2.44	2.65	(0.24)	(0.44)	—	(0.68)	25.10	11.96	0.79	0.78	0.95	391	44
12-31-2019	17.51	0.25	5.97	6.22	(0.25)	(0.35)	—	(0.60)	23.13	35.85	0.78	0.77	1.17	403	13
12-31-2018	21.36	0.25	(3.87)	(3.62)	(0.23)	—	—	(0.23)	17.51	(17.03)	0.75	0.74	1.18	366	31
12-31-2017	18.49	0.23	2.97	3.20	(0.33)	—	—	(0.33)	21.36	17.43	0.74	0.73	1.19	525	30
12-31-2016	17.15	0.25	1.48	1.73	(0.39)	—	—	(0.39)	18.49	10.17	0.71	0.70	1.47	541	28
Series II
06-30-2021³	25.28	0.09	5.47	5.56	—	—	—	—	30.84	21.99⁴	0.97⁵	0.96⁵	0.66⁵	181	22
12-31-2020	23.29	0.16	2.47	2.63	(0.20)	(0.44)	—	(0.64)	25.28	11.75	0.99	0.98	0.75	160	44
12-31-2019	17.63	0.21	6.00	6.21	(0.20)	(0.35)	—	(0.55)	23.29	35.59	0.98	0.97	0.97	164	13
12-31-2018	21.51	0.21	(3.90)	(3.69)	(0.19)	—	—	(0.19)	17.63	(17.23)	0.95	0.94	0.98	150	31
12-31-2017	18.61	0.20	2.99	3.19	(0.29)	—	—	(0.29)	21.51	17.20	0.94	0.93	0.99	205	30
12-31-2016	17.27	0.21	1.49	1.70	(0.36)	—	—	(0.36)	18.61	9.96	0.91	0.90	1.27	207	28
Series NAV
06-30-2021³	25.11	0.13	5.43	5.56	—	—	—	—	30.67	22.14⁴	0.72⁵	0.71⁵	0.91⁵	153	22
12-31-2020	23.14	0.21	2.45	2.66	(0.25)	(0.44)	—	(0.69)	25.11	12.01	0.74	0.73	0.99	125	44
12-31-2019	17.51	0.25	5.99	6.24	(0.26)	(0.35)	—	(0.61)	23.14	35.97	0.73	0.72	1.21	97	13
12-31-2018	21.37	0.26	(3.88)	(3.62)	(0.24)	—	—	(0.24)	17.51	(17.03)	0.70	0.69	1.23	79	31
12-31-2017	18.49	0.24	2.98	3.22	(0.34)	—	—	(0.34)	21.37	17.54	0.69	0.68	1.23	92	30
12-31-2016	17.15	0.25	1.49	1.74	(0.40)	—	—	(0.40)	18.49	10.22	0.65	0.65	1.48	83	28
1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-21. Unaudited. 4 Not annualized. 5 Annualized.
Global Equity Trust
Series I
06-30-2021³	20.89	0.31	2.43	2.74	—	—	—	—	23.63	13.12⁴	0.95⁵	0.94⁵	2.40⁵	277	41
12-31-2020	20.04	0.18	1.09	1.27	(0.23)	(0.17)	(0.02)	(0.42)	20.89	6.60	1.06	1.05	0.96	265	120^{6, 7}
12-31-2019	18.37	0.49	2.32	2.81	(0.42)	(0.72)	—	(1.14)	20.04	16.04	1.00	0.95	2.51	115	20
12-31-2018	21.93	0.41	(3.58)	(3.17)	(0.39)	—	—	(0.39)	18.37	(14.49)	0.98	0.95	1.91	115	30
12-31-2017	18.78	0.41	3.14	3.55	(0.40)	—	—	(0.40)	21.93	18.88	0.96	0.94	2.00	148	28
12-31-2016	17.95	0.34	1.33	1.67	(0.84)	—	—	(0.84)	18.78	9.47	0.89⁸	0.87⁸	1.87	142	23
Series II
06-30-2021³	20.79	0.29	2.41	2.70	—	—	—	—	23.49	12.93⁴	1.15⁵	1.14⁵	2.19⁵	29	41
12-31-2020	19.95	0.18	1.04	1.22	(0.19)	(0.17)	(0.02)	(0.38)	20.79	6.42	1.26	1.25	0.96	27	120^{6, 7}
12-31-2019	18.29	0.45	2.31	2.76	(0.38)	(0.72)	—	(1.10)	19.95	15.83	1.20	1.15	2.31	31	20
12-31-2018	21.83	0.37	(3.56)	(3.19)	(0.35)	—	—	(0.35)	18.29	(14.65)	1.18	1.15	1.72	31	30
12-31-2017	18.70	0.39	3.10	3.49	(0.36)	—	—	(0.36)	21.83	18.63	1.16	1.14	1.80	44	28
12-31-2016	17.88	0.30	1.33	1.63	(0.81)	—	—	(0.81)	18.70	9.24	1.09⁸	1.07⁸	1.67	43	23
Series NAV
06-30-2021³	20.87	0.32	2.41	2.73	—	—	—	—	23.60	13.08⁴	0.90⁵	0.89⁵	2.44⁵	48	41
12-31-2020	20.01	0.22	1.07	1.29	(0.24)	(0.17)	(0.02)	(0.43)	20.87	6.71	1.01	1.00	1.20	44	120^{6, 7}
12-31-2019	18.35	0.49	2.32	2.81	(0.43)	(0.72)	—	(1.15)	20.01	16.06	0.95	0.90	2.53	43	20
12-31-2018	21.90	0.42	(3.56)	(3.14)	(0.41)	—	—	(0.41)	18.35	(14.42)	0.93	0.90	1.94	38	30
12-31-2017	18.76	0.42	3.13	3.55	(0.41)	—	—	(0.41)	21.90	18.90	0.91	0.89	2.05	48	28
12-31-2016	17.94	0.40	1.27	1.67	(0.85)	—	—	(0.85)	18.76	9.47	0.84⁸	0.83⁸	2.24	42	23
1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-21. Unaudited. 4 Not annualized. 5 Annualized. 6 Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. 7 Excludes merger activity. 8 Includes reimbursement for overbilling of custody expenses in prior years of 0.04%.

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

Table of Contents

John Hancock Variable Insurance Trust

Financial highlights

Per share operating performance for a share outstanding throughout each period													Ratios and supplemental data
		Income (loss) from investment operations				Less distributions							Ratios to average net assets
Period ended	Net asset value, beginning of period ($)	Net investment income (loss) ($)¹	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	From tax return of capital ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)²	Expenses before reductions (%)	Expenses including reductions (%)	Net investment income (loss) (%)	Net assets, end of period (in millions)	Portfolio turnover (%)
Health Sciences Trust
Series I
06-30-2021³	31.07	(0.06)	2.70	2.64	—	—	—	—	33.71	8.46⁴	1.06⁵	1.01⁵	(0.38)⁵	81	14
12-31-2020	27.18	(0.09)	7.18	7.09	—	(3.20)	—	(3.20)	31.07	27.17	1.15	1.09	(0.32)	80	38
12-31-2019	22.87	(0.08)	6.36	6.28	—	(1.97)	—	(1.97)	27.18	28.68	1.16	1.10	(0.32)	72	34
12-31-2018	25.03	(0.07)	0.57	0.50	—	(2.66)	—	(2.66)	22.87	0.69	1.16	1.09	(0.27)	99	42
12-31-2017	21.83	(0.08)	5.91	5.83	—	(2.63)	—	(2.63)	25.03	27.51	1.16	1.10	(0.31)	107	39
12-31-2016	31.92	(0.09)	(3.02)	(3.11)	(0.02)	(6.96)	—	(6.98)	21.83	(10.57)	1.10⁶	1.04⁶	(0.34)	94	27
Series II
06-30-2021³	27.95	(0.08)	2.43	2.35	—	—	—	—	30.30	8.37⁴	1.26⁵	1.21⁵	(0.58)⁵	80	14
12-31-2020	24.78	(0.13)	6.50	6.37	—	(3.20)	—	(3.20)	27.95	26.89	1.35	1.29	(0.52)	84	38
12-31-2019	21.05	(0.12)	5.82	5.70	—	(1.97)	—	(1.97)	24.78	28.40	1.36	1.30	(0.53)	71	34
12-31-2018	23.26	(0.11)	0.56	0.45	—	(2.66)	—	(2.66)	21.05	0.52	1.36	1.29	(0.47)	66	42
12-31-2017	20.48	(0.12)	5.53	5.41	—	(2.63)	—	(2.63)	23.26	27.26	1.36	1.30	(0.51)	75	39
12-31-2016	30.45	(0.14)	(2.87)	(3.01)	—	(6.96)	—	(6.96)	20.48	(10.77)	1.30⁶	1.24⁶	(0.54)	71	27
Series NAV
06-30-2021³	31.68	(0.05)	2.75	2.70	—	—	—	—	34.38	8.49⁴	1.01⁵	0.96⁵	(0.33)⁵	177	14
12-31-2020	27.64	(0.08)	7.32	7.24	—	(3.20)	—	(3.20)	31.68	27.26	1.10	1.04	(0.27)	162	38
12-31-2019	23.22	(0.08)	6.47	6.39	—	(1.97)	—	(1.97)	27.64	28.67	1.11	1.05	(0.29)	130	34
12-31-2018	25.37	(0.06)	0.57	0.51	—	(2.66)	—	(2.66)	23.22	0.76	1.11	1.04	(0.22)	107	42
12-31-2017	22.09	(0.07)	5.98	5.91	—	(2.63)	—	(2.63)	25.37	27.61	1.11	1.05	(0.26)	108	39
12-31-2016	32.20	(0.08)	(3.04)	(3.12)	(0.03)	(6.96)	—	(6.99)	22.09	(10.54)	1.06⁶	0.99⁶	(0.29)	96	27
1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-21. Unaudited. 4 Not annualized. 5 Annualized. 6 Includes reimbursement for overbilling of custody expenses in prior years of 0.05%.
International Equity Index Trust
Series I
06-30-2021³	19.55	0.26	1.55	1.81	—	—	—	—	21.36	9.21⁴	0.64⁵	0.39⁵	2.48⁵	393	2
12-31-2020	18.30	0.35	1.51	1.86	(0.44)	(0.17)	—	(0.61)	19.55	10.64	0.66	0.39	2.07	361	5
12-31-2019	15.44	0.50	2.77	3.27	(0.41)	—	—	(0.41)	18.30	21.37	0.67	0.39	2.92	359	5⁶
12-31-2018	18.44	0.45	(3.02)	(2.57)	(0.42)	(0.01)	—	(0.43)	15.44	(14.09)	0.66	0.39	2.55	334	2
12-31-2017	14.79	0.40	3.63	4.03	(0.38)	—	—	(0.38)	18.44	27.30	0.68	0.39	2.33	399	3
12-31-2016	14.54	0.39	0.25	0.64	(0.39)	—	—	(0.39)	14.79	4.45	0.65⁷	0.39⁷	2.65	277	5
Series II
06-30-2021³	19.58	0.24	1.54	1.78	—	—	—	—	21.36	9.09⁴	0.84⁵	0.59⁵	2.28⁵	25	2
12-31-2020	18.32	0.32	1.51	1.83	(0.40)	(0.17)	—	(0.57)	19.58	10.48	0.86	0.59	1.87	23	5
12-31-2019	15.46	0.44	2.80	3.24	(0.38)	—	—	(0.38)	18.32	21.11	0.87	0.59	2.55	22	5⁶
12-31-2018	18.46	0.42	(3.03)	(2.61)	(0.38)	(0.01)	—	(0.39)	15.46	(14.27)	0.86	0.59	2.37	14	2
12-31-2017	14.81	0.36	3.63	3.99	(0.34)	—	—	(0.34)	18.46	27.04	0.88	0.59	2.14	18	3
12-31-2016	14.56	0.36	0.25	0.61	(0.36)	—	—	(0.36)	14.81	4.24	0.85⁷	0.59⁷	2.47	14	5
Series NAV
06-30-2021³	19.55	0.26	1.54	1.80	—	—	—	—	21.35	9.21⁴	0.59⁵	0.34⁵	2.53⁵	523	2
12-31-2020	18.29	0.36	1.51	1.87	(0.44)	(0.17)	—	(0.61)	19.55	10.76	0.61	0.34	2.11	484	5
12-31-2019	15.43	0.50	2.78	3.28	(0.42)	—	—	(0.42)	18.29	21.44	0.62	0.34	2.91	458	5⁶
12-31-2018	18.44	0.46	(3.03)	(2.57)	(0.43)	(0.01)	—	(0.44)	15.43	(14.10)	0.61	0.34	2.58	331	2
12-31-2017	14.78	0.41	3.63	4.04	(0.38)	—	—	(0.38)	18.44	27.45	0.63	0.34	2.39	377	3
12-31-2016	14.54	0.39	0.25	0.64	(0.40)	—	—	(0.40)	14.78	4.43	0.60⁷	0.34⁷	2.70	298	5
1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-21. Unaudited. 4 Not annualized. 5 Annualized. 6 Excludes merger activity. 7 Includes reimbursement for overbilling of custody expenses in prior years of 0.04%.

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

Table of Contents

John Hancock Variable Insurance Trust

Financial highlights

Per share operating performance for a share outstanding throughout each period													Ratios and supplemental data
		Income (loss) from investment operations				Less distributions							Ratios to average net assets
Period ended	Net asset value, beginning of period ($)	Net investment income (loss) ($)¹	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	From tax return of capital ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)²	Expenses before reductions (%)	Expenses including reductions (%)	Net investment income (loss) (%)	Net assets, end of period (in millions)	Portfolio turnover (%)
International Small Company Trust
Series I
06-30-2021³	14.73	0.12	1.62	1.74	—	—	—	—	16.47	11.81⁴	1.10⁵	1.09⁵	1.56⁵	27	13
12-31-2020	14.38	0.15	0.93	1.08	(0.28)	(0.45)	—	(0.73)	14.73	8.37	1.23	1.22	1.20	27	14
12-31-2019	12.55	0.24	2.47	2.71	(0.30)	(0.58)	—	(0.88)	14.38	22.60	1.20	1.19	1.76	28	12
12-31-2018	15.95	0.24	(3.45)	(3.21)	(0.19)	—	—	(0.19)	12.55	(20.09)	1.15	1.14	1.55	25	20
12-31-2017	12.46	0.20	3.50	3.70	(0.21)	—	—	(0.21)	15.95	29.46	1.18	1.17	1.42	38	14
12-31-2016	12.11	0.24	0.35	0.59	(0.24)	—	—	(0.24)	12.46	4.90	0.91⁶	0.90⁶	1.96	32	12
Series II
06-30-2021³	14.71	0.11	1.61	1.72	—	—	—	—	16.43	11.69⁴	1.30⁵	1.29⁵	1.37⁵	15	13
12-31-2020	14.36	0.13	0.92	1.05	(0.25)	(0.45)	—	(0.70)	14.71	8.17	1.43	1.42	0.99	15	14
12-31-2019	12.51	0.21	2.47	2.68	(0.25)	(0.58)	—	(0.83)	14.36	22.35	1.40	1.39	1.55	15	12
12-31-2018	15.93	0.20	(3.43)	(3.23)	(0.19)	—	—	(0.19)	12.51	(20.27)	1.35	1.34	1.34	14	20
12-31-2017	12.45	0.18	3.48	3.66	(0.18)	—	—	(0.18)	15.93	29.17	1.38	1.37	1.22	21	14
12-31-2016	12.10	0.22	0.35	0.57	(0.22)	—	—	(0.22)	12.45	4.70	1.12⁶	1.11⁶	1.79	18	12
Series NAV
06-30-2021³	14.74	0.13	1.62	1.75	—	—	—	—	16.49	11.87⁴	1.05⁵	1.04⁵	1.64⁵	86	13
12-31-2020	14.39	0.16	0.92	1.08	(0.28)	(0.45)	—	(0.73)	14.74	8.41	1.18	1.17	1.25	75	14
12-31-2019	12.56	0.25	2.48	2.73	(0.32)	(0.58)	—	(0.90)	14.39	22.70	1.15	1.14	1.81	73	12
12-31-2018	15.96	0.24	(3.44)	(3.20)	(0.20)	—	—	(0.20)	12.56	(20.08)	1.10	1.09	1.58	74	20
12-31-2017	12.46	0.21	3.50	3.71	(0.21)	—	—	(0.21)	15.96	29.60	1.13	1.12	1.42	93	14
12-31-2016	12.11	0.24	0.36	0.60	(0.25)	—	—	(0.25)	12.46	4.95	0.87⁶	0.86⁶	2.00	58	12
1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-21. Unaudited. 4 Not annualized. 5 Annualized. 6 Includes reimbursement for overbilling of custody expenses in prior years of 0.33%.
Lifestyle Balanced Portfolio
Series I
06-30-2021³	16.40	(0.01)⁴	0.98	0.97	—	—	—	—	17.37	5.91⁵	0.12^{6, 7}	0.11^{6, 7}	(0.11)^{4, 6}	41	4
12-31-2020	15.43	0.38⁴	1.53	1.91	(0.37)	(0.57)	—	(0.94)	16.40	12.69	0.12⁷	0.12⁷	2.45⁴	41	15
12-31-2019	13.76	0.33⁴	2.09	2.42	(0.30)	(0.45)	—	(0.75)	15.43	17.73	0.12⁷	0.12⁷	2.19⁴	37	11
12-31-2018	14.98	0.32⁴	(0.96)	(0.64)	(0.33)	(0.25)	—	(0.58)	13.76	(4.36)	0.12⁷	0.12⁷	2.13⁴	32	8
12-31-2017	13.78	0.33⁴	1.36	1.69	(0.33)	(0.16)	—	(0.49)	14.98	12.31	0.12⁷	0.12⁷	2.22⁴	35	6
12-31-2016	13.59	0.32⁴	0.51	0.83	(0.31)	(0.33)	—	(0.64)	13.78	6.11	0.12⁷	0.11⁷	2.31⁴	31	11
Series II
06-30-2021³	16.43	(0.03)⁴	0.98	0.95	—	—	—	—	17.38	5.78⁵	0.32^{6, 7}	0.31^{6, 7}	(0.31)^{4, 6}	1,007	4
12-31-2020	15.46	0.35⁴	1.53	1.88	(0.34)	(0.57)	—	(0.91)	16.43	12.47	0.32⁷	0.32⁷	2.26⁴	960	15
12-31-2019	13.78	0.29⁴	2.11	2.40	(0.27)	(0.45)	—	(0.72)	15.46	17.56	0.32⁷	0.32⁷	1.94⁴	860	11
12-31-2018	15.01	0.27⁴	(0.95)	(0.68)	(0.30)	(0.25)	—	(0.55)	13.78	(4.63)	0.32⁷	0.32⁷	1.84⁴	781	8
12-31-2017	13.80	0.29⁴	1.38	1.67	(0.30)	(0.16)	—	(0.46)	15.01	12.16	0.32⁷	0.32⁷	1.97⁴	942	6
12-31-2016	13.61	0.29⁴	0.52	0.81	(0.29)	(0.33)	—	(0.62)	13.80	5.89	0.32⁷	0.31⁷	2.06⁴	909	11
Series NAV
06-30-2021³	16.38	(0.01)⁴	0.98	0.97	—	—	—	—	17.35	5.92⁵	0.07^{6, 7}	0.06^{6, 7}	(0.06)^{4, 6}	153	4
12-31-2020	15.42	0.40⁴	1.51	1.91	(0.38)	(0.57)	—	(0.95)	16.38	12.68	0.07⁷	0.07⁷	2.57⁴	136	15
12-31-2019	13.74	0.34⁴	2.09	2.43	(0.30)	(0.45)	—	(0.75)	15.42	17.89	0.07⁷	0.07⁷	2.29⁴	113	11
12-31-2018	14.97	0.34⁴	(0.98)	(0.64)	(0.34)	(0.25)	—	(0.59)	13.74	(4.39)	0.07⁷	0.07⁷	2.28⁴	89	8
12-31-2017	13.77	0.34⁴	1.35	1.69	(0.33)	(0.16)	—	(0.49)	14.97	12.38	0.07⁷	0.07⁷	2.40⁴	83	6
12-31-2016	13.58	0.36⁴	0.48	0.84	(0.32)	(0.33)	—	(0.65)	13.77	6.16	0.07⁷	0.06⁷	2.58⁴	63	11
1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-21. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.

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

Table of Contents

John Hancock Variable Insurance Trust

Financial highlights

Per share operating performance for a share outstanding throughout each period													Ratios and supplemental data
		Income (loss) from investment operations				Less distributions							Ratios to average net assets
Period ended	Net asset value, beginning of period ($)	Net investment income (loss) ($)¹	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	From tax return of capital ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)²	Expenses before reductions (%)	Expenses including reductions (%)	Net investment income (loss) (%)	Net assets, end of period (in millions)	Portfolio turnover (%)
Lifestyle Conservative Portfolio
Series I
06-30-2021³	14.43	(0.01)⁴	0.26	0.25	—	—	—	—	14.68	1.73⁵	0.14^{6, 7}	0.13^{6, 7}	(0.13)^{4, 6}	19	9
12-31-2020	13.68	0.45⁴	1.01	1.46	(0.40)	(0.31)	—	(0.71)	14.43	10.75	0.15⁷	0.13⁷	3.19⁴	16	21
12-31-2019	12.67	0.32⁴	1.25	1.57	(0.30)	(0.26)	—	(0.56)	13.68	12.46	0.15⁷	0.13⁷	2.36⁴	12	21
12-31-2018	13.39	0.33⁴	(0.59)	(0.26)	(0.32)	(0.14)	—	(0.46)	12.67	(1.97)	0.16⁷	0.12⁷	2.48⁴	11	21
12-31-2017	12.91	0.34⁴	0.56	0.90	(0.34)	(0.08)	—	(0.42)	13.39	6.96	0.16⁷	0.13⁷	2.69⁴	12	12
12-31-2016	12.85	0.35⁴	0.21	0.56	(0.36)	(0.14)	—	(0.50)	12.91	4.39	0.14⁷	0.13⁷	2.65⁴	9	19
Series II
06-30-2021³	14.45	(0.02)⁴	0.25	0.23	—	—	—	—	14.68	1.59⁵	0.34^{6, 7}	0.33^{6, 7}	(0.33)^{4, 6}	206	9
12-31-2020	13.70	0.38⁴	1.05	1.43	(0.37)	(0.31)	—	(0.68)	14.45	10.53	0.35⁷	0.33⁷	2.71⁴	208	21
12-31-2019	12.69	0.30⁴	1.25	1.55	(0.28)	(0.26)	—	(0.54)	13.70	12.22	0.35⁷	0.33⁷	2.20⁴	170	21
12-31-2018	13.41	0.30⁴	(0.58)	(0.28)	(0.30)	(0.14)	—	(0.44)	12.69	(2.17)	0.36⁷	0.32⁷	2.29⁴	164	21
12-31-2017	12.93	0.30⁴	0.58	0.88	(0.32)	(0.08)	—	(0.40)	13.41	6.74	0.36⁷	0.33⁷	2.21⁴	166	12
12-31-2016	12.87	0.31⁴	0.23	0.54	(0.34)	(0.14)	—	(0.48)	12.93	4.17	0.34⁷	0.33⁷	2.37⁴	178	19
Series NAV
06-30-2021³	14.42	(0.01)⁴	0.26	0.25	—	—	—	—	14.67	1.73⁵	0.09^{6, 7}	0.08^{6, 7}	(0.08)^{4, 6}	10	9
12-31-2020	13.67	0.57⁴	0.89	1.46	(0.40)	(0.31)	—	(0.71)	14.42	10.80	0.10⁷	0.08⁷	4.03⁴	9	21
12-31-2019	12.66	0.31⁴	1.27	1.58	(0.31)	(0.26)	—	(0.57)	13.67	12.52	0.10⁷	0.08⁷	2.29⁴	4	21
12-31-2018	13.38	0.36⁴	(0.61)	(0.25)	(0.33)	(0.14)	—	(0.47)	12.66	(1.92)	0.11⁷	0.07⁷	2.70⁴	5	21
12-31-2017	12.90	0.35⁴	0.56	0.91	(0.35)	(0.08)	—	(0.43)	13.38	7.01	0.11⁷	0.08⁷	2.75⁴	4	12
12-31-2016	12.85	0.61⁴	(0.05)	0.56	(0.37)	(0.14)	—	(0.51)	12.90	4.36	0.10⁷	0.08⁷	4.67⁴	3	19
1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-21. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.
Lifestyle Growth Portfolio
Series I
06-30-2021³	17.79	(0.01)⁴	1.58	1.57	—	—	—	—	19.36	8.83⁵	0.11^{6, 7}	0.11^{6, 7}	(0.11)^{4, 6}	251	2⁸
12-31-2020	16.92	0.36⁴	1.84	2.20	(0.37)	(0.96)	—	(1.33)	17.79	13.58	0.12⁷	0.11⁷	2.19⁴	236	13
12-31-2019	14.86	0.32⁴	2.81	3.13	(0.30)	(0.77)	—	(1.07)	16.92	21.45	0.12⁷	0.11⁷	1.96⁴	224	7
12-31-2018	16.41	0.30⁴	(1.28)	(0.98)	(0.32)	(0.25)	—	(0.57)	14.86	(6.12)	0.11⁷	0.11⁷	1.85⁴	207	5
12-31-2017	14.53	0.45⁴	1.88	2.33	(0.30)	(0.15)	—	(0.45)	16.41	16.13	0.12⁷	0.11⁷	3.34⁴	242	4⁸
12-31-2016	14.23	0.46⁴	0.56	1.02	(0.27)	(0.45)	—	(0.72)	14.53	7.23	0.11⁷	0.11⁷	3.16⁴	93	12⁸
Series II
06-30-2021³	17.81	(0.03)⁴	1.58	1.55	—	—	—	—	19.36	8.70⁵	0.31^{6, 7}	0.31^{6, 7}	(0.31)^{4, 6}	5,639	2⁸
12-31-2020	16.94	0.33⁴	1.84	2.17	(0.34)	(0.96)	—	(1.30)	17.81	13.37	0.32⁷	0.31⁷	1.97⁴	5,588	13
12-31-2019	14.88	0.29⁴	2.81	3.10	(0.27)	(0.77)	—	(1.04)	16.94	21.20	0.32⁷	0.31⁷	1.75⁴	5,567	7
12-31-2018	16.43	0.27⁴	(1.29)	(1.02)	(0.28)	(0.25)	—	(0.53)	14.88	(6.31)	0.31⁷	0.31⁷	1.62⁴	5,225	5
12-31-2017	14.55	0.40⁴	1.90	2.30	(0.27)	(0.15)	—	(0.42)	16.43	15.90	0.32⁷	0.31⁷	2.89⁴	6,456	4⁸
12-31-2016	14.25	0.34⁴	0.66	1.00	(0.25)	(0.45)	—	(0.70)	14.55	7.02	0.31⁷	0.31⁷	2.35⁴	2,889	12⁸
Series NAV
06-30-2021³	17.78	(0.01)⁴	1.59	1.58	—	—	—	—	19.36	8.89⁵	0.06^{6, 7}	0.06^{6, 7}	(0.06)^{4, 6}	551	2⁸
12-31-2020	16.91	0.38⁴	1.83	2.21	(0.38)	(0.96)	—	(1.34)	17.78	13.63	0.07⁷	0.06⁷	2.30⁴	477	13
12-31-2019	14.85	0.34⁴	2.80	3.14	(0.31)	(0.77)	—	(1.08)	16.91	21.52	0.07⁷	0.06⁷	2.10⁴	415	7
12-31-2018	16.40	0.33⁴	(1.31)	(0.98)	(0.32)	(0.25)	—	(0.57)	14.85	(6.07)	0.06⁷	0.06⁷	2.00⁴	339	5
12-31-2017	14.52	0.46⁴	1.88	2.34	(0.31)	(0.15)	—	(0.46)	16.40	16.20	0.07⁷	0.06⁷	3.61⁴	346	4⁸
12-31-2016	14.23	0.52⁴	0.50	1.02	(0.28)	(0.45)	—	(0.73)	14.52	7.21	0.06⁷	0.06⁷	3.59⁴	109	12⁸
1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-21. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 8 Excludes merger activity.

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

Table of Contents

John Hancock Variable Insurance Trust

Financial highlights

Per share operating performance for a share outstanding throughout each period													Ratios and supplemental data
		Income (loss) from investment operations				Less distributions							Ratios to average net assets
Period ended	Net asset value, beginning of period ($)	Net investment income (loss) ($)¹	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	From tax return of capital ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)²	Expenses before reductions (%)	Expenses including reductions (%)	Net investment income (loss) (%)	Net assets, end of period (in millions)	Portfolio turnover (%)
Lifestyle Moderate Portfolio
Series I
06-30-2021³	15.74	(0.01)⁴	0.72	0.71	—	—	—	—	16.45	4.51⁵	0.13^{6, 7}	0.13^{6, 7}	(0.13)^{4, 6}	16	5
12-31-2020	14.85	0.40⁴	1.36	1.76	(0.38)	(0.49)	—	(0.87)	15.74	12.09	0.14⁷	0.13⁷	2.64⁴	14	17
12-31-2019	13.38	0.33⁴	1.79	2.12	(0.29)	(0.36)	—	(0.65)	14.85	15.97	0.14⁷	0.13⁷	2.28⁴	12	15
12-31-2018	14.44	0.31⁴	(0.81)	(0.50)	(0.33)	(0.23)	—	(0.56)	13.38	(3.58)	0.14⁷	0.13⁷	2.17⁴	10	8
12-31-2017	13.50	0.33⁴	1.07	1.40	(0.33)	(0.13)	—	(0.46)	14.44	10.43	0.14⁷	0.13⁷	2.35⁴	11	7
12-31-2016	13.37	0.34⁴	0.40	0.74	(0.33)	(0.28)	—	(0.61)	13.50	5.50	0.13⁷	0.12⁷	2.48⁴	10	14
Series II
06-30-2021³	15.77	(0.03)⁴	0.72	0.69	—	—	—	—	16.46	4.38⁵	0.33^{6, 7}	0.33^{6, 7}	(0.33)^{4, 6}	308	5
12-31-2020	14.88	0.37⁴	1.36	1.73	(0.35)	(0.49)	—	(0.84)	15.77	11.87	0.34⁷	0.33⁷	2.43⁴	307	17
12-31-2019	13.41	0.29⁴	1.80	2.09	(0.26)	(0.36)	—	(0.62)	14.88	15.72	0.34⁷	0.33⁷	2.00⁴	269	15
12-31-2018	14.47	0.28⁴	(0.81)	(0.53)	(0.30)	(0.23)	—	(0.53)	13.41	(3.77)	0.34⁷	0.33⁷	1.94⁴	247	8
12-31-2017	13.52	0.30⁴	1.08	1.38	(0.30)	(0.13)	—	(0.43)	14.47	10.28	0.34⁷	0.33⁷	2.04⁴	295	7
12-31-2016	13.39	0.29⁴	0.42	0.71	(0.30)	(0.28)	—	(0.58)	13.52	5.28	0.33⁷	0.32⁷	2.14⁴	295	14
Series NAV
06-30-2021³	15.74	(0.01)⁴	0.72	0.71	—	—	—	—	16.45	4.51⁵	0.08^{6, 7}	0.08^{6, 7}	(0.08)^{4, 6}	41	5
12-31-2020	14.84	0.40⁴	1.38	1.78	(0.39)	(0.49)	—	(0.88)	15.74	12.22	0.09⁷	0.08⁷	2.67⁴	35	17
12-31-2019	13.38	0.35⁴	1.77	2.12	(0.30)	(0.36)	—	(0.66)	14.84	15.95	0.09⁷	0.08⁷	2.39⁴	30	15
12-31-2018	14.44	0.35⁴	(0.85)	(0.50)	(0.33)	(0.23)	—	(0.56)	13.38	(3.53)	0.09⁷	0.08⁷	2.46⁴	22	8
12-31-2017	13.49	0.35⁴	1.07	1.42	(0.34)	(0.13)	—	(0.47)	14.44	10.56	0.09⁷	0.08⁷	2.59⁴	20	7
12-31-2016	13.36	0.41⁴	0.34	0.75	(0.34)	(0.28)	—	(0.62)	13.49	5.55	0.08⁷	0.08⁷	3.00⁴	14	14
1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-21. Unaudited. 4 Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 5 Not annualized. 6 Annualized. 7 Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio.
Mid Cap Index Trust
Series I
06-30-2021³	21.34	0.10	3.61	3.71	—	—	—	—	25.05	17.39⁴	0.55⁵	0.45⁵	0.87⁵	1,107	9
12-31-2020	21.39	0.21	2.19	2.40	(0.32)	(2.13)	—	(2.45)	21.34	13.22	0.56	0.46	1.10	996	14
12-31-2019	18.83	0.26	4.36	4.62	(0.24)	(1.82)	—	(2.06)	21.39	25.59	0.56	0.45	1.22	1,047	15
12-31-2018	23.00	0.27	(2.60)	(2.33)	(0.25)	(1.59)	—	(1.84)	18.83	(11.46)	0.56	0.45	1.17	1,029	15
12-31-2017	21.32	0.24	2.95	3.19	(0.11)	(1.40)	—	(1.51)	23.00	15.81	0.56	0.45	1.07	1,277	19^{6, 7}
12-31-2016	19.66	0.25	3.56	3.81	(0.24)	(1.91)	—	(2.15)	21.32	20.11	0.56	0.45	1.24	805	22
Series II
06-30-2021³	21.21	0.08	3.57	3.65	—	—	—	—	24.86	17.21⁴	0.75⁵	0.65⁵	0.67⁵	75	9
12-31-2020	21.28	0.17	2.17	2.34	(0.28)	(2.13)	—	(2.41)	21.21	12.98	0.76	0.66	0.90	67	14
12-31-2019	18.73	0.21	4.36	4.57	(0.20)	(1.82)	—	(2.02)	21.28	25.43	0.76	0.65	1.02	70	15
12-31-2018	22.89	0.22	(2.58)	(2.36)	(0.21)	(1.59)	—	(1.80)	18.73	(11.66)	0.76	0.65	0.96	66	15
12-31-2017	21.24	0.19	2.93	3.12	(0.07)	(1.40)	—	(1.47)	22.89	15.51	0.76	0.65	0.85	90	19^{6, 7}
12-31-2016	19.58	0.21	3.56	3.77	(0.20)	(1.91)	—	(2.11)	21.24	19.92	0.76	0.65	1.03	68	22
Series NAV
06-30-2021³	21.34	0.11	3.60	3.71	—	—	—	—	25.05	17.39⁴	0.50⁵	0.40⁵	0.93⁵	287	9
12-31-2020	21.39	0.22	2.19	2.41	(0.33)	(2.13)	—	(2.46)	21.34	13.27	0.51	0.41	1.15	242	14
12-31-2019	18.82	0.27	4.37	4.64	(0.25)	(1.82)	—	(2.07)	21.39	25.72	0.51	0.40	1.28	228	15
12-31-2018	23.00	0.28	(2.60)	(2.32)	(0.27)	(1.59)	—	(1.86)	18.82	(11.45)	0.51	0.40	1.23	174	15
12-31-2017	21.32	0.24	2.96	3.20	(0.12)	(1.40)	—	(1.52)	23.00	15.86	0.51	0.40	1.10	198	19^{6, 7}
12-31-2016	19.65	0.26	3.57	3.83	(0.25)	(1.91)	—	(2.16)	21.32	20.17	0.51	0.40	1.30	134	22
1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-21. Unaudited. 4 Not annualized. 5 Annualized. 6 Excludes in-kind transactions. 7 Excludes merger activity.

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

Table of Contents

John Hancock Variable Insurance Trust

Financial highlights

Per share operating performance for a share outstanding throughout each period													Ratios and supplemental data
		Income (loss) from investment operations				Less distributions							Ratios to average net assets
Period ended	Net asset value, beginning of period ($)	Net investment income (loss) ($)¹	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	From tax return of capital ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)²	Expenses before reductions (%)	Expenses including reductions (%)	Net investment income (loss) (%)	Net assets, end of period (in millions)	Portfolio turnover (%)
Mid Cap Stock Trust
Series I
06-30-2021³	26.19	(0.10)	2.24	2.14	—	—	—	—	28.33	8.09⁴	0.92⁵	0.91⁵	(0.74)⁵	235	39
12-31-2020	18.07	(0.13)	11.50	11.37	—	(3.25)	—	(3.25)	26.19	65.39	0.93	0.92	(0.61)	234	98
12-31-2019	15.79	(0.10)	5.44	5.34	—	(3.06)	—	(3.06)	18.07	34.53	0.93	0.93	(0.54)	168	64
12-31-2018	17.82	(0.08)	0.15	0.07	—	(2.10)	—	(2.10)	15.79	(1.56)	0.93	0.92	(0.41)	142	69
12-31-2017	14.16	(0.03)	4.04	4.01	—	(0.35)	—	(0.35)	17.82	28.54	0.93	0.92	(0.16)	166	71
12-31-2016	15.17	(0.04)	0.16	0.12	—	(1.13)	—	(1.13)	14.16	0.59	0.90⁶	0.89⁶	(0.27)	150	85
Series II
06-30-2021³	23.93	(0.12)	2.06	1.94	—	—	—	—	25.87	8.02⁴	1.12⁵	1.11⁵	(0.94)⁵	114	39
12-31-2020	16.74	(0.16)	10.60	10.44	—	(3.25)	—	(3.25)	23.93	65.02	1.13	1.12	(0.81)	120	98
12-31-2019	14.83	(0.13)	5.10	4.97	—	(3.06)	—	(3.06)	16.74	34.25	1.13	1.13	(0.74)	86	64
12-31-2018	16.87	(0.11)	0.17	0.06	—	(2.10)	—	(2.10)	14.83	(1.71)	1.13	1.12	(0.61)	73	69
12-31-2017	13.45	(0.06)	3.83	3.77	—	(0.35)	—	(0.35)	16.87	28.26	1.13	1.12	(0.36)	85	71
12-31-2016	14.49	(0.06)	0.15	0.09	—	(1.13)	—	(1.13)	13.45	0.41	1.10⁶	1.09⁶	(0.47)	76	85
Series NAV
06-30-2021³	26.70	(0.10)	2.29	2.19	—	—	—	—	28.89	8.16⁴	0.87⁵	0.86⁵	(0.69)⁵	624	39
12-31-2020	18.37	(0.12)	11.70	11.58	—	(3.25)	—	(3.25)	26.70	65.47	0.88	0.87	(0.55)	635	98
12-31-2019	16.00	(0.09)	5.52	5.43	—	(3.06)	—	(3.06)	18.37	34.63	0.88	0.88	(0.49)	535	64
12-31-2018	18.03	(0.07)	0.14	0.07	—	(2.10)	—	(2.10)	16.00	(1.54)	0.88	0.87	(0.35)	454	69
12-31-2017	14.31	(0.02)	4.09	4.07	—	(0.35)	—	(0.35)	18.03	28.66	0.88	0.87	(0.12)	501	71
12-31-2016	15.32	(0.03)	0.15	0.12	—	(1.13)	—	(1.13)	14.31	0.58	0.85⁶	0.84⁶	(0.22)	449	85
1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-21. Unaudited. 4 Not annualized. 5 Annualized. 6 Includes reimbursement for overbilling of custody expenses in prior years of 0.03%.
Mid Value Trust
Series I
06-30-2021³	10.18	0.05	1.94	1.99	—	—	—	—	12.17	19.55⁴	1.04⁵	0.99⁵	0.88⁵	255	16
12-31-2020	9.68	0.14	0.73	0.87	(0.15)	(0.22)	—	(0.37)	10.18	9.60	1.05	1.00	1.55	210	36
12-31-2019	9.47	0.15	1.54	1.69	(0.11)	(1.37)	—	(1.48)	9.68	19.54	1.05	1.00	1.50	239	33
12-31-2018	11.60	0.09	(1.20)	(1.11)	(0.09)	(0.93)	—	(1.02)	9.47	(10.84)	1.05	0.99	0.80	241	35
12-31-2017	11.62	0.11	1.10	1.21	(0.11)	(1.12)	—	(1.23)	11.60	11.43	1.04	0.99	0.96	312	32
12-31-2016	10.72	0.12	2.35	2.47	(0.13)	(1.44)	—	(1.57)	11.62	24.02	1.02⁶	0.96⁶	1.03	339	56
Series II
06-30-2021³	10.19	0.04	1.94	1.98	—	—	—	—	12.17	19.43⁴	1.24⁵	1.19⁵	0.67⁵	57	16
12-31-2020	9.69	0.12	0.74	0.86	(0.14)	(0.22)	—	(0.36)	10.19	9.38	1.25	1.20	1.36	47	36
12-31-2019	9.49	0.13	1.53	1.66	(0.09)	(1.37)	—	(1.46)	9.69	19.15	1.25	1.20	1.30	50	33
12-31-2018	11.61	0.07	(1.19)	(1.12)	(0.07)	(0.93)	—	(1.00)	9.49	(10.93)	1.25	1.19	0.60	48	35
12-31-2017	11.63	0.09	1.10	1.19	(0.09)	(1.12)	—	(1.21)	11.61	11.21	1.24	1.19	0.76	62	32
12-31-2016	10.73	0.09	2.36	2.45	(0.11)	(1.44)	—	(1.55)	11.63	23.77	1.21⁶	1.16⁶	0.83	67	56
Series NAV
06-30-2021³	10.11	0.05	1.92	1.97	—	—	—	—	12.08	19.49⁴	0.99⁵	0.94⁵	0.91⁵	360	16
12-31-2020	9.61	0.14	0.74	0.88	(0.16)	(0.22)	—	(0.38)	10.11	9.72	1.00	0.95	1.59	345	36
12-31-2019	9.42	0.15	1.53	1.68	(0.12)	(1.37)	—	(1.49)	9.61	19.49	1.00	0.95	1.56	381	33
12-31-2018	11.53	0.10	(1.18)	(1.08)	(0.10)	(0.93)	—	(1.03)	9.42	(10.68)	1.00	0.94	0.86	359	35
12-31-2017	11.56	0.11	1.10	1.21	(0.12)	(1.12)	—	(1.24)	11.53	11.46	0.99	0.94	0.99	434	32
12-31-2016	10.67	0.12	2.34	2.46	(0.13)	(1.44)	—	(1.57)	11.56	24.09	0.97⁶	0.91⁶	1.09	425	56
1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-21. Unaudited. 4 Not annualized. 5 Annualized. 6 Includes reimbursement for overbilling of custody expenses in prior years of 0.02%.

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

Table of Contents

John Hancock Variable Insurance Trust

Financial highlights

Per share operating performance for a share outstanding throughout each period													Ratios and supplemental data
		Income (loss) from investment operations				Less distributions							Ratios to average net assets
Period ended	Net asset value, beginning of period ($)	Net investment income (loss) ($)¹	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	From tax return of capital ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)²	Expenses before reductions (%)	Expenses including reductions (%)	Net investment income (loss) (%)	Net assets, end of period (in millions)	Portfolio turnover (%)
Real Estate Securities Trust
Series I
06-30-2021³	18.97	0.18	4.12	4.30	—	—	—	—	23.27	22.67⁴	0.81⁵	0.80⁵	1.68⁵	71	42
12-31-2020	23.55	0.40	(1.97)	(1.57)	(0.43)	(2.58)	—	(3.01)	18.97	(5.64)	0.82	0.82	1.96	61	180
12-31-2019	18.72	0.42	5.07	5.49	(0.48)	(0.18)	—	(0.66)	23.55	29.40	0.81	0.81	1.90	73	129
12-31-2018	19.71	0.43	(1.09)	(0.66)	(0.33)	—	—	(0.33)	18.72	(3.46)	0.81	0.81	2.21	64	164
12-31-2017	18.65	0.40	0.76	1.16	(0.10)	—	—	(0.10)	19.71	6.24	0.81	0.80	2.08	77	166
12-31-2016	18.08	0.44	0.78	1.22	(0.65)	—	—	(0.65)	18.65	6.92	0.74⁶	0.74⁶	2.32	85	147
Series II
06-30-2021³	18.96	0.15	4.12	4.27	—	—	—	—	23.23	22.52⁴	1.01⁵	1.00⁵	1.49⁵	38	42
12-31-2020	23.53	0.36	(1.96)	(1.60)	(0.39)	(2.58)	—	(2.97)	18.96	(5.80)	1.02	1.02	1.75	32	180
12-31-2019	18.72	0.38	5.05	5.43	(0.44)	(0.18)	—	(0.62)	23.53	29.08	1.01	1.01	1.70	40	129
12-31-2018	19.74	0.38	(1.08)	(0.70)	(0.32)	—	—	(0.32)	18.72	(3.64)	1.01	1.01	2.00	35	164
12-31-2017	18.68	0.36	0.77	1.13	(0.07)	—	—	(0.07)	19.74	6.06	1.01	1.00	1.88	45	166
12-31-2016	18.11	0.40	0.78	1.18	(0.61)	—	—	(0.61)	18.68	6.69	0.94⁶	0.93⁶	2.11	51	147
Series NAV
06-30-2021³	18.84	0.18	4.10	4.28	—	—	—	—	23.12	22.72⁴	0.76⁵	0.75⁵	1.74⁵	263	42
12-31-2020	23.41	0.41	(1.96)	(1.55)	(0.44)	(2.58)	—	(3.02)	18.84	(5.58)	0.77	0.77	2.01	221	180
12-31-2019	18.61	0.43	5.04	5.47	(0.49)	(0.18)	—	(0.67)	23.41	29.47	0.76	0.76	1.96	257	129
12-31-2018	19.59	0.43	(1.08)	(0.65)	(0.33)	—	—	(0.33)	18.61	(3.43)	0.76	0.76	2.26	204	164
12-31-2017	18.53	0.41	0.76	1.17	(0.11)	—	—	(0.11)	19.59	6.26	0.76	0.75	2.15	254	166
12-31-2016	17.97	0.45	0.77	1.22	(0.66)	—	—	(0.66)	18.53	6.96	0.69⁶	0.69⁶	2.37	267	147
1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-21. Unaudited. 4 Not annualized. 5 Annualized. 6 Includes reimbursement for overbilling of custody expenses in prior years of 0.06%.
Science & Technology Trust
Series I
06-30-2021³	41.87	(0.15)	4.34	4.19	—	—	—	—	46.06	10.01⁴	1.11⁵	1.06⁵	(0.67)⁵	929	48
12-31-2020	29.43	(0.06)⁶	16.39	16.33	—	(3.89)	—	(3.89)	41.87	57.46	1.11	1.07	(0.16)⁶	938	114
12-31-2019	25.80	0.01	9.31	9.32	(0.03)	(5.66)	—	(5.69)	29.43	38.06	1.13	1.08	0.04	662	87
12-31-2018	29.97	(0.11)	0.68	0.57	—	(4.74)	—	(4.74)	25.80	(0.61)	1.12	1.08	(0.35)	594	108
12-31-2017	22.48	(0.09)	9.17	9.08	(0.02)	(1.57)	—	(1.59)	29.97	41.13	1.12	1.08	(0.34)	617	91
12-31-2016	23.78	0.02	1.99	2.01	—	(3.31)	—	(3.31)	22.48	8.39	1.12⁷	1.07⁷	0.09	425	111
Series II
06-30-2021³	39.08	(0.18)	4.06	3.88	—	—	—	—	42.96	9.90⁴	1.31⁵	1.26⁵	(0.87)⁵	84	48
12-31-2020	27.71	(0.11)⁶	15.37	15.26	—	(3.89)	—	(3.89)	39.08	57.15	1.31	1.27	(0.35)⁶	84	114
12-31-2019	24.58	(0.05)	8.84	8.79	—	(5.66)	—	(5.66)	27.71	37.74	1.33	1.28	(0.17)	59	87
12-31-2018	28.79	(0.17)	0.70	0.53	—	(4.74)	—	(4.74)	24.58	(0.78)	1.32	1.28	(0.55)	49	108
12-31-2017	21.68	(0.14)	8.82	8.68	—	(1.57)	—	(1.57)	28.79	40.81	1.32	1.28	(0.54)	53	91
12-31-2016	23.09	(0.02)	1.92	1.90	—	(3.31)	—	(3.31)	21.68	8.15	1.32⁷	1.27⁷	(0.11)	42	111
Series NAV
06-30-2021³	42.55	(0.14)	4.41	4.27	—	—	—	—	46.82	10.04⁴	1.06⁵	1.01⁵	(0.62)⁵	159	48
12-31-2020	29.84	(0.05)⁶	16.65	16.60	—	(3.89)	—	(3.89)	42.55	57.58	1.06	1.02	(0.14)⁶	145	114
12-31-2019	26.10	0.03	9.42	9.45	(0.05)	(5.66)	—	(5.71)	29.84	38.09	1.08	1.03	0.10	89	87
12-31-2018	30.26	(0.10)	0.68	0.58	—	(4.74)	—	(4.74)	26.10	(0.57)	1.07	1.03	(0.31)	64	108
12-31-2017	22.68	(0.08)	9.26	9.18	(0.03)	(1.57)	—	(1.60)	30.26	41.21	1.07	1.03	(0.29)	48	91
12-31-2016	23.96	0.03	2.00	2.03	—	(3.31)	—	(3.31)	22.68	8.41	1.07⁷	1.02⁷	0.14	34	111
1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-21. Unaudited. 4 Not annualized. 5 Annualized. 6 Net investment income (loss) per share and ratio of net investment income (loss) to average net assets reflect a special dividend received by the portfolio, which amounted to $0.18 and 0.51%, respectively. 7 Includes reimbursement for overbilling of custody expenses in prior years of 0.01%.

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

Table of Contents

John Hancock Variable Insurance Trust

Financial highlights

Per share operating performance for a share outstanding throughout each period													Ratios and supplemental data
		Income (loss) from investment operations				Less distributions							Ratios to average net assets
Period ended	Net asset value, beginning of period ($)	Net investment income (loss) ($)¹	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	From tax return of capital ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)²	Expenses before reductions (%)	Expenses including reductions (%)	Net investment income (loss) (%)	Net assets, end of period (in millions)	Portfolio turnover (%)
Small Cap Index Trust
Series I
06-30-2021³	16.31	0.04	2.80	2.84	—	—	—	—	19.15	17.41⁴	0.57⁵	0.51⁵	0.48⁵	506	16
12-31-2020	14.94	0.10	2.50	2.60	(0.20)	(1.03)	—	(1.23)	16.31	19.29	0.59	0.53	0.74	427	16
12-31-2019	13.36	0.16	3.01	3.17	(0.15)	(1.44)	—	(1.59)	14.94	25.04	0.58	0.53	1.11	404	14
12-31-2018	16.09	0.17	(1.78)	(1.61)	(0.15)	(0.97)	—	(1.12)	13.36	(11.42)	0.58	0.52	1.04	365	24
12-31-2017	14.74	0.15	1.89	2.04	(0.07)	(0.62)	—	(0.69)	16.09	14.39	0.58	0.52	0.97	416	22
12-31-2016	13.28	0.16	2.51	2.67	(0.15)	(1.06)	—	(1.21)	14.74	20.98	0.58	0.52	1.18	366	22
Series II
06-30-2021³	16.20	0.03	2.76	2.79	—	—	—	—	18.99	17.22⁴	0.77⁵	0.71⁵	0.28⁵	40	16
12-31-2020	14.85	0.07	2.48	2.55	(0.17)	(1.03)	—	(1.20)	16.20	19.05	0.79	0.73	0.54	36	16
12-31-2019	13.29	0.13	2.99	3.12	(0.12)	(1.44)	—	(1.56)	14.85	24.78	0.78	0.73	0.90	35	14
12-31-2018	16.00	0.13	(1.75)	(1.62)	(0.12)	(0.97)	—	(1.09)	13.29	(11.55)	0.78	0.72	0.82	32	24
12-31-2017	14.66	0.11	1.89	2.00	(0.04)	(0.62)	—	(0.66)	16.00	14.18	0.78	0.72	0.75	42	22
12-31-2016	13.22	0.13	2.50	2.63	(0.13)	(1.06)	—	(1.19)	14.66	20.70	0.78	0.72	0.98	45	22
Series NAV
06-30-2021³	16.33	0.05	2.80	2.85	—	—	—	—	19.18	17.45⁴	0.52⁵	0.46⁵	0.53⁵	167	16
12-31-2020	14.96	0.11	2.49	2.60	(0.20)	(1.03)	—	(1.23)	16.33	19.32	0.54	0.48	0.78	144	16
12-31-2019	13.38	0.18	3.00	3.18	(0.16)	(1.44)	—	(1.60)	14.96	25.07	0.53	0.48	1.19	158	14
12-31-2018	16.10	0.18	(1.77)	(1.59)	(0.16)	(0.97)	—	(1.13)	13.38	(11.30)	0.53	0.47	1.09	124	24
12-31-2017	14.75	0.16	1.89	2.05	(0.08)	(0.62)	—	(0.70)	16.10	14.43	0.53	0.47	1.02	137	22
12-31-2016	13.29	0.17	2.51	2.68	(0.16)	(1.06)	—	(1.22)	14.75	21.01	0.53	0.47	1.23	115	22
1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-21. Unaudited. 4 Not annualized. 5 Annualized.
Small Cap Opportunities Trust
Series I
06-30-2021³	26.24	0.07	6.20	6.27	—	—	—	—	32.51	23.89⁴	1.13⁵	0.91⁵	0.44⁵	95	21
12-31-2020	25.52	0.13	2.07	2.20	(0.16)	(1.32)	—	(1.48)	26.24	9.88	1.17	1.00	0.58	81	28
12-31-2019	22.37	0.14	5.29	5.43	(0.11)	(2.17)	—	(2.28)	25.52	25.54	1.16	0.98	0.58	83	16
12-31-2018	32.01	0.11	(3.10)	(2.99)	(0.14)	(6.51)	—	(6.65)	22.37	(13.84)	1.14	0.96	0.36	74	23
12-31-2017	31.06	0.09	3.08	3.17	(0.13)	(2.09)	—	(2.22)	32.01	11.07	1.10	1.02	0.29	97	41
12-31-2016	28.76	0.12	5.16	5.28	(0.14)	(2.84)	—	(2.98)	31.06	19.47	1.08⁶	0.99⁶	0.43	99	32
Series II
06-30-2021³	25.61	0.03	6.06	6.09	—	—	—	—	31.70	23.78⁴	1.33⁵	1.11⁵	0.23⁵	37	21
12-31-2020	24.96	0.08	2.01	2.09	(0.12)	(1.32)	—	(1.44)	25.61	9.65	1.37	1.20	0.38	30	28
12-31-2019	21.91	0.09	5.18	5.27	(0.05)	(2.17)	—	(2.22)	24.96	25.26	1.36	1.18	0.38	31	16
12-31-2018	31.48	0.05	(3.03)	(2.98)	(0.08)	(6.51)	—	(6.59)	21.91	(14.02)	1.34	1.16	0.16	29	23
12-31-2017	30.58	0.03	3.04	3.07	(0.08)	(2.09)	—	(2.17)	31.48	10.86	1.30	1.22	0.09	39	41
12-31-2016	28.35	0.07	5.08	5.15	(0.08)	(2.84)	—	(2.92)	30.58	19.25	1.28⁶	1.19⁶	0.23	39	32
Series NAV
06-30-2021³	26.04	0.08	6.14	6.22	—	—	—	—	32.26	23.89⁴	1.08⁵	0.86⁵	0.50⁵	35	21
12-31-2020	25.34	0.14	2.06	2.20	(0.18)	(1.32)	—	(1.50)	26.04	9.92	1.12	0.95	0.63	30	28
12-31-2019	22.23	0.15	5.25	5.40	(0.12)	(2.17)	—	(2.29)	25.34	25.60	1.11	0.93	0.62	26	16
12-31-2018	31.85	0.13	(3.09)	(2.96)	(0.15)	(6.51)	—	(6.66)	22.23	(13.81)	1.09	0.91	0.42	23	23
12-31-2017	30.90	0.11	3.08	3.19	(0.15)	(2.09)	—	(2.24)	31.85	11.19	1.05	0.97	0.34	29	41
12-31-2016	28.63	0.14	5.13	5.27	(0.16)	(2.84)	—	(3.00)	30.90	19.51	1.03⁶	0.94⁶	0.48	85	32
1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-21. Unaudited. 4 Not annualized. 5 Annualized. 6 Includes reimbursement for overbilling of custody expenses in prior years of 0.03%.

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

Table of Contents

John Hancock Variable Insurance Trust

Financial highlights

Per share operating performance for a share outstanding throughout each period													Ratios and supplemental data
		Income (loss) from investment operations				Less distributions							Ratios to average net assets
Period ended	Net asset value, beginning of period ($)	Net investment income (loss) ($)¹	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	From tax return of capital ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)²	Expenses before reductions (%)	Expenses including reductions (%)	Net investment income (loss) (%)	Net assets, end of period (in millions)	Portfolio turnover (%)
Small Cap Stock Trust
Series I
06-30-2021³	11.92	(0.05)	0.60	0.55	—	—	—	—	12.47	4.53⁴	1.10⁵	1.09⁵	(0.85)⁵	129	67
12-31-2020	8.88	(0.06)	4.37	4.31	—	(1.27)	—	(1.27)	11.92	51.54	1.12	1.11	(0.65)	137	113
12-31-2019	9.08	(0.05)	3.21	3.16	—	(3.36)	—	(3.36)	8.88	38.02	1.13	1.12	(0.51)	98	81
12-31-2018	10.13	(0.06)	(0.33)	(0.39)	—	(0.66)	—	(0.66)	9.08	(5.19)	1.11	1.10	(0.59)	81	88
12-31-2017	8.01	(0.06)	2.18	2.12	—	—	—	—	10.13	26.47	1.13	1.12	(0.61)	89	102
12-31-2016	8.61	(0.02)	0.20	0.18	—	(0.78)	—	(0.78)	8.01	2.29	1.09⁶	1.08⁶	(0.28)	79	95
Series II
06-30-2021³	10.88	(0.06)	0.55	0.49	—	—	—	—	11.37	4.50⁴	1.30⁵	1.29⁵	(1.05)⁵	40	67
12-31-2020	8.21	(0.07)	4.01	3.94	—	(1.27)	—	(1.27)	10.88	51.23	1.32	1.31	(0.85)	42	113
12-31-2019	8.61	(0.07)	3.03	2.96	—	(3.36)	—	(3.36)	8.21	37.74	1.33	1.32	(0.71)	35	81
12-31-2018	9.66	(0.08)	(0.31)	(0.39)	—	(0.66)	—	(0.66)	8.61	(5.44)	1.31	1.30	(0.78)	28	88
12-31-2017	7.65	(0.07)	2.08	2.01	—	—	—	—	9.66	26.27	1.33	1.32	(0.81)	31	102
12-31-2016	8.27	(0.04)	0.20	0.16	—	(0.78)	—	(0.78)	7.65	2.14	1.29⁶	1.28⁶	(0.47)	28	95
Series NAV
06-30-2021³	12.17	(0.05)	0.62	0.57	—	—	—	—	12.74	4.60⁴	1.05⁵	1.04⁵	(0.80)⁵	270	67
12-31-2020	9.04	(0.06)	4.46	4.40	—	(1.27)	—	(1.27)	12.17	51.62	1.07	1.06	(0.60)	261	113
12-31-2019	9.19	(0.05)	3.26	3.21	—	(3.36)	—	(3.36)	9.04	38.10	1.08	1.07	(0.46)	186	81
12-31-2018	10.25	(0.06)	(0.34)	(0.40)	—	(0.66)	—	(0.66)	9.19	(5.22)	1.06	1.05	(0.57)	147	88
12-31-2017	8.09	(0.05)	2.21	2.16	—	—	—	—	10.25	26.70	1.08	1.07	(0.56)	335	102
12-31-2016	8.69	(0.02)	0.20	0.18	—	(0.78)	—	(0.78)	8.09	2.27	1.04⁶	1.03⁶	(0.22)	267	95
1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-21. Unaudited. 4 Not annualized. 5 Annualized. 6 Includes reimbursement for overbilling of custody expenses in prior years of 0.06%.
Small Cap Value Trust
Series I
06-30-2021³	14.70	0.04	2.96	3.00	—	—	—	—	17.70	20.41⁴	1.03⁵	1.02⁵	0.51⁵	192	15
12-31-2020	18.19	0.08	(1.73)	(1.65)	(0.15)	(1.69)	—	(1.84)	14.70	(6.70)	1.07	1.06	0.57	167	34
12-31-2019	15.60	0.13	3.82	3.95	(0.10)	(1.26)	—	(1.36)	18.19	26.52	1.09	1.08	0.75	218	19
12-31-2018	20.25	0.14	(2.16)	(2.02)	(0.13)	(2.50)	—	(2.63)	15.60	(12.50)	1.11	1.10	0.69	211	13
12-31-2017	21.51	0.23	0.36	0.59	(0.19)	(1.66)	—	(1.85)	20.25	3.73	1.13	1.12	1.10	309	19
12-31-2016	20.30	0.14	4.14	4.28	(0.14)	(2.93)	—	(3.07)	21.51	22.67	1.10⁶	1.10⁶	0.69	373	16
Series II
06-30-2021³	14.58	0.03	2.94	2.97	—	—	—	—	17.55	20.30⁴	1.23⁵	1.22⁵	0.32⁵	29	15
12-31-2020	18.07	0.05	(1.73)	(1.68)	(0.12)	(1.69)	—	(1.81)	14.58	(6.95)	1.27	1.26	0.37	23	34
12-31-2019	15.50	0.10	3.80	3.90	(0.07)	(1.26)	—	(1.33)	18.07	26.33	1.29	1.28	0.56	28	19
12-31-2018	20.13	0.10	(2.14)	(2.04)	(0.09)	(2.50)	—	(2.59)	15.50	(12.66)	1.31	1.30	0.49	25	13
12-31-2017	21.40	0.19	0.35	0.54	(0.15)	(1.66)	—	(1.81)	20.13	3.50	1.33	1.32	0.89	35	19
12-31-2016	20.21	0.10	4.12	4.22	(0.10)	(2.93)	—	(3.03)	21.40	22.45	1.30⁶	1.29⁶	0.49	41	16
Series NAV
06-30-2021³	14.63	0.05	2.95	3.00	—	—	—	—	17.63	20.51⁴	0.98⁵	0.97⁵	0.56⁵	342	15
12-31-2020	18.12	0.09	(1.73)	(1.64)	(0.16)	(1.69)	—	(1.85)	14.63	(6.68)	1.02	1.01	0.64	298	34
12-31-2019	15.54	0.14	3.81	3.95	(0.11)	(1.26)	—	(1.37)	18.12	26.62	1.04	1.03	0.81	271	19
12-31-2018	20.18	0.15	(2.15)	(2.00)	(0.14)	(2.50)	—	(2.64)	15.54	(12.45)	1.06	1.05	0.75	249	13
12-31-2017	21.44	0.23	0.37	0.60	(0.20)	(1.66)	—	(1.86)	20.18	3.79	1.08	1.07	1.12	312	19
12-31-2016	20.25	0.15	4.12	4.27	(0.15)	(2.93)	—	(3.08)	21.44	22.68	1.05⁶	1.05⁶	0.74	313	16
1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-21. Unaudited. 4 Not annualized. 5 Annualized. 6 Includes reimbursement for overbilling of custody expenses in prior years of 0.02%.

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

Table of Contents

John Hancock Variable Insurance Trust

Financial highlights

Per share operating performance for a share outstanding throughout each period													Ratios and supplemental data
		Income (loss) from investment operations				Less distributions							Ratios to average net assets
Period ended	Net asset value, beginning of period ($)	Net investment income (loss) ($)¹	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	From tax return of capital ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)²	Expenses before reductions (%)	Expenses including reductions (%)	Net investment income (loss) (%)	Net assets, end of period (in millions)	Portfolio turnover (%)
Small Company Value Trust
Series I
06-30-2021³	10.55	—⁴	1.71	1.71	—	—	—	—	12.26	16.11⁵	1.17⁶	1.11⁶	0.02⁶	61	14
12-31-2020	10.36	0.03	0.80	0.83	(0.03)	(0.61)	—	(0.64)	10.55	9.24	1.19	1.13	0.38	54	30
12-31-2019	16.62	0.04	3.25	3.29	(0.17)	(9.38)	—	(9.55)	10.36	25.53	1.19	1.13	0.25	56	30
12-31-2018	20.86	0.15	(2.46)	(2.31)	(0.08)	(1.85)	—	(1.93)	16.62	(12.94)	1.15	1.09	0.74	50	23
12-31-2017	22.06	0.07	2.07	2.14	(0.05)	(3.29)	—	(3.34)	20.86	11.49	1.15	1.09	0.34	66	19
12-31-2016	19.68	0.17	5.72	5.89	(0.15)	(3.36)	—	(3.51)	22.06	32.32	1.12⁷	1.06⁷	0.83	72	24
Series II
06-30-2021³	10.05	(0.01)	1.63	1.62	—	—	—	—	11.67	16.02⁵	1.37⁶	1.31⁶	(0.18)⁶	46	14
12-31-2020	9.90	0.02	0.75	0.77	(0.01)	(0.61)	—	(0.62)	10.05	9.07	1.39	1.33	0.18	43	30
12-31-2019	16.25	0.01	3.15	3.16	(0.13)	(9.38)	—	(9.51)	9.90	25.22	1.39	1.33	0.05	45	30
12-31-2018	20.43	0.11	(2.40)	(2.29)	(0.04)	(1.85)	—	(1.89)	16.25	(13.09)	1.35	1.29	0.54	41	23
12-31-2017	21.71	0.03	2.02	2.05	(0.04)	(3.29)	—	(3.33)	20.43	11.26	1.35	1.29	0.14	55	19
12-31-2016	19.42	0.13	5.63	5.76	(0.11)	(3.36)	—	(3.47)	21.71	32.05	1.32⁷	1.26⁷	0.63	58	24
Series NAV
06-30-2021³	10.48	—⁴	1.70	1.70	—	—	—	—	12.18	16.22⁵	1.12⁶	1.06⁶	0.07⁶	67	14
12-31-2020	10.30	0.04	0.78	0.82	(0.03)	(0.61)	—	(0.64)	10.48	9.25	1.14	1.08	0.42	58	30
12-31-2019	16.57	0.04	3.25	3.29	(0.18)	(9.38)	—	(9.56)	10.30	25.65	1.14	1.08	0.30	46	30
12-31-2018	20.81	0.08	(2.38)	(2.30)	(0.09)	(1.85)	—	(1.94)	16.57	(12.93)	1.10	1.04	0.40	36	23
12-31-2017	22.00	0.08	2.07	2.15	(0.05)	(3.29)	—	(3.34)	20.81	11.58	1.10	1.04	0.39	178	19
12-31-2016	19.64	0.17	5.71	5.88	(0.16)	(3.36)	—	(3.52)	22.00	32.33	1.07⁷	1.01⁷	0.86	156	24
1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-21. Unaudited. 4 Less than $0.005 per share. 5 Not annualized. 6 Annualized. 7 Includes reimbursement for overbilling of custody expenses in prior years of 0.03%.
Strategic Equity Allocation Trust
Series NAV
06-30-2021³	20.98	0.17	2.60	2.77	—	—	—	—	23.75	13.20⁴	0.66⁵	0.53⁵	1.48⁵	9,311	3
12-31-2020	20.30	0.31	2.34	2.65	(0.40)	(1.57)	—	(1.97)	20.98	14.34	0.67	0.53	1.61	9,383	7
12-31-2019	17.13	0.38	4.13	4.51	(0.36)	(0.98)	—	(1.34)	20.30	27.15	0.66	0.53	1.95	9,774	4
12-31-2018	19.88	0.36	(1.92)	(1.56)	(0.33)	(0.86)	—	(1.19)	17.13	(8.52)	0.66	0.53	1.83	9,327	5
12-31-2017	16.86	0.32	3.31	3.63	(0.34)	(0.27)	—	(0.61)	19.88	21.77	0.66	0.54	1.72	11,485	5
12-31-2016	16.09	0.32	1.08	1.40	(0.29)	(0.34)	—	(0.63)	16.86	8.81	0.67	0.53	1.96	11,117	18
1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-21. Unaudited. 4 Not annualized. 5 Annualized.

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

Table of Contents

John Hancock Variable Insurance Trust

Financial highlights

Per share operating performance for a share outstanding throughout each period													Ratios and supplemental data
		Income (loss) from investment operations				Less distributions							Ratios to average net assets
Period ended	Net asset value, beginning of period ($)	Net investment income (loss) ($)¹	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	From tax return of capital ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)²	Expenses before reductions (%)	Expenses including reductions (%)	Net investment income (loss) (%)	Net assets, end of period (in millions)	Portfolio turnover (%)
Total Stock Market Index Trust
Series I
06-30-2021³	26.26	0.13	3.81	3.94	—	—	—	—	30.20	15.00⁴	0.57⁵	0.49⁵	0.90⁵	614	2
12-31-2020	24.04	0.34	4.49	4.83	(0.44)	(2.17)	—	(2.61)	26.26	21.45	0.58	0.50	1.42	554	2
12-31-2019	20.22	0.38	5.42	5.80	(0.37)	(1.61)	—	(1.98)	24.04	29.63	0.58	0.50	1.67	530	3
12-31-2018	22.39	0.39	(1.55)	(1.16)	(0.27)	(0.74)	—	(1.01)	20.22	(5.70)	0.58	0.50	1.72	488	2
12-31-2017	19.21	0.31	3.58	3.89	(0.28)	(0.43)	—	(0.71)	22.39	20.59	0.57	0.53	1.48	584	6⁶
12-31-2016	17.61	0.29	1.87	2.16	(0.26)	(0.30)	—	(0.56)	19.21	12.38	0.57	0.57	1.61	473	3
Series II
06-30-2021³	26.13	0.10	3.79	3.89	—	—	—	—	30.02	14.89⁴	0.77⁵	0.69⁵	0.70⁵	51	2
12-31-2020	23.94	0.29	4.46	4.75	(0.39)	(2.17)	—	(2.56)	26.13	21.19	0.78	0.70	1.22	46	2
12-31-2019	20.14	0.34	5.39	5.73	(0.32)	(1.61)	—	(1.93)	23.94	29.40	0.78	0.70	1.48	42	3
12-31-2018	22.31	0.35	(1.56)	(1.21)	(0.22)	(0.74)	—	(0.96)	20.14	(5.92)	0.78	0.70	1.52	37	2
12-31-2017	19.15	0.27	3.56	3.83	(0.24)	(0.43)	—	(0.67)	22.31	20.33	0.77	0.73	1.28	45	6⁶
12-31-2016	17.56	0.25	1.87	2.12	(0.23)	(0.30)	—	(0.53)	19.15	12.15	0.77	0.77	1.41	36	3
Series NAV
06-30-2021³	26.25	0.13	3.82	3.95	—	—	—	—	30.20	15.05⁴	0.52⁵	0.44⁵	0.95⁵	243	2
12-31-2020	24.03	0.35	4.49	4.84	(0.45)	(2.17)	—	(2.62)	26.25	21.50	0.53	0.45	1.47	216	2
12-31-2019	20.21	0.40	5.41	5.81	(0.38)	(1.61)	—	(1.99)	24.03	29.70	0.53	0.45	1.74	185	3
12-31-2018	22.38	0.40	(1.55)	(1.15)	(0.28)	(0.74)	—	(1.02)	20.21	(5.66)	0.53	0.45	1.77	137	2
12-31-2017	19.20	0.32	3.58	3.90	(0.29)	(0.43)	—	(0.72)	22.38	20.65	0.52	0.48	1.53	165	6⁶
12-31-2016	17.61	0.30	1.86	2.16	(0.27)	(0.30)	—	(0.57)	19.20	12.38	0.52	0.52	1.67	132	3
1 Based on average daily shares outstanding. 2 Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3 Six months ended 6-30-21. Unaudited. 4 Not annualized. 5 Annualized. 6 Excludes merger activity.

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

Table of Contents

John Hancock Variable Insurance Trust

Notes to financial statements (unaudited)

1. Organization

American Asset Allocation Trust, American Global Growth Trust, American Growth Trust, American Growth-Income Trust and American International Trust (collectively, the JHVIT Feeder Funds), Lifestyle Balanced Portfolio, Lifestyle Conservative Portfolio, Lifestyle Growth Portfolio and Lifestyle Moderate Portfolio (collectively, the Lifestyle Portfolios) operate as "funds of funds," investing in shares of mutual funds (underlying funds). The accounting policies of the underlying funds in which the Lifestyle Portfolios invest are outlined in the underlying funds’ shareholder reports, which include the underlying funds’ financial statements. These are available on the Securities and Exchange Commission (SEC) website at www.sec.gov. John Hancock underlying funds' shareholder reports are also available without charge by calling 800-344-1029 or visiting jhannuities.com. The American Funds Insurance Series’ accounting policies are outlined in their financial statements, available at the SEC website at www.sec.gov. Capital Research and Management Company serves as investment advisor for the American Funds Insurance Series' master funds. The underlying funds are not covered by this report.

The portfolios may offer multiple classes of shares: Series I, Series II, Series III and Series NAV. The shares currently offered by each portfolio are shown on the Statements of assets and liabilities. Shares of the portfolios are presently offered only to certain affiliates of John Hancock Variable Trust Advisers LLC (the Advisor) and Manulife Financial Corporation (MFC) except in the case of the Emerging Markets Value Trust, International Equity Index Trust, International Small Company Trust, Financial Industries Trust and Fundamental All Cap Core Trust. Series NAV of Emerging Markets Value Trust and International Equity Index Trust and Series II of Emerging Markets Value Trust, Financial Industries Trust, Fundamental All Cap Core Trust and International Small Company Trust are also offered to variable insurance products of external insurance companies. Shareholders of each class have exclusive voting rights to matters that affect that class. The distribution and service fees, if any, for each class may differ.

Prior to April 26, 2021, Global Equity Trust was known as Global Trust.

2. Significant accounting policies

The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (US GAAP), which require management to make certain estimates and assumptions as of the date of the financial statements. Actual results could differ from those estimates and those differences could be significant. The portfolios qualify as investment companies under Topic 946 of Accounting Standards Codification of US GAAP.

Events or transactions occurring after the end of the fiscal period through the date that the financial statements were issued have been evaluated in the preparation of the financial statements. The following summarizes the significant accounting policies of the portfolios:

Security valuation. Investments are stated at value as of the scheduled close of regular trading on the New York Stock Exchange (NYSE), normally at 4:00 P.M., Eastern Time. In case of emergency or other disruption resulting in the NYSE not opening for trading or the NYSE closing at a time other than the regularly scheduled close, the net asset value (NAV) may be determined as of the regularly scheduled close of the NYSE pursuant to the portfolios' Valuation Policies and Procedures.

In order to value the securities, the portfolios use the following valuation techniques: Equity securities, including exchange-traded or closed-end funds, are typically valued at the last sale price or official closing price on the exchange or principal market where the security trades. In the event there were no sales during the day or closing prices are not available, the securities are valued using the last available bid price. Investments in open-end mutual funds, including John Hancock Collateral Trust (JHCT), are valued at their respective NAVs each business day. Debt obligations typically are valued based on evaluated prices provided by an independent pricing vendor. 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. Exchange-traded options are valued at the mid-price of the last quoted bid and ask prices from the exchange where the option trades. Unlisted options are generally valued using evaluated prices obtained from an independent pricing vendor. Futures contracts whose settlement prices are determined as of the close of the NYSE are typically valued based on the settlement price while other futures contracts are typically valued at the last traded price on the exchange on which they trade. Foreign equity index futures that trade in the electronic trading market subsequent to the close of regular trading may be valued at the last traded price in the electronic trading market as of 4:00 P.M. ET, or may be fair valued based on fair value adjustment factors provided by an independent pricing vendor in order to adjust for events that may occur between the close of foreign exchanges or markets and the close of the NYSE. Forward foreign currency contracts are valued at the prevailing forward rates which are based on foreign currency exchange spot rates and forward points supplied by an independent pricing vendor. Foreign securities and currencies are valued in U.S. dollars based on foreign currency exchange rates supplied by an independent pricing vendor.

In certain instances, the Pricing Committee may determine to value equity securities using prices obtained from another exchange or market if trading on the exchange or market on which prices are typically obtained did not open for trading as scheduled, or if trading closed earlier than scheduled, and trading occurred as normal on another exchange or market.

Other portfolio securities and assets, for which reliable market quotations are not readily available, are valued at fair value as determined in good faith by the portfolios' 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 scheduled 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 portfolios' Pricing Committee, following procedures established by the Board of Trustees. The portfolios use fair value adjustment factors provided by an independent pricing vendor to value certain foreign securities in order to adjust for events that may occur between the close of foreign exchanges or markets and the close of the NYSE.

Table of Contents

Significant accounting policies, continued

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, including registered investment companies. Level 2 includes securities valued using other significant observable inputs. Observable inputs may include quoted prices for similar securities, interest rates, prepayment speeds and credit risk. Prices for securities valued using these inputs are received from independent pricing vendors and brokers and are based on an evaluation of the inputs described. Level 3 includes securities valued using significant unobservable inputs when market prices are not readily available or reliable, including the portfolios' own assumptions in determining the fair value of investments. Factors used in determining value may include market or issuer specific events or trends, changes in interest rates and credit quality. The inputs or methodology used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. Changes in valuation techniques and related inputs may result in transfers into or out of an assigned level within the disclosure hierarchy.

The following is a summary of the values by input classification of the portfolios' investments as of June 30, 2021, by major security category or type:

	Total value at 6-30-21	Level 1 quoted price	Level 2 significant observable inputs	Level 3 significant unobservable inputs
500 Index Trust
Investments in securities:
Assets
Common stocks	$7,544,990,879	$7,544,990,879	—	—
Short-term investments	188,052,461	1,036,455	$187,016,006	—
Total investments in securities	$7,733,043,340	$7,546,027,334	$187,016,006	—
Derivatives:
Assets
Futures	$2,795,411	$2,795,411	—	—

American Asset Allocation Trust
Investments in securities:
Assets
Investment companies	$1,438,751,803	$1,438,751,803	—	—
Total investments in securities	$1,438,751,803	$1,438,751,803	—	—

American Global Growth Trust
Investments in securities:
Assets
Investment companies	$253,080,024	$253,080,024	—	—
Total investments in securities	$253,080,024	$253,080,024	—	—

American Growth Trust
Investments in securities:
Assets
Investment companies	$1,095,023,124	$1,095,023,124	—	—
Total investments in securities	$1,095,023,124	$1,095,023,124	—	—

American Growth-Income Trust
Investments in securities:
Assets
Investment companies	$1,082,280,216	$1,082,280,216	—	—
Total investments in securities	$1,082,280,216	$1,082,280,216	—	—

American International Trust
Investments in securities:
Assets
Investment companies	$512,423,975	$512,423,975	—	—
Total investments in securities	$512,423,975	$512,423,975	—	—

Table of Contents

Significant accounting policies, continued

	Total value at 6-30-21	Level 1 quoted price	Level 2 significant observable inputs	Level 3 significant unobservable inputs
Blue Chip Growth Trust
Investments in securities:
Assets
Common stocks
Communication services	$664,636,745	$618,173,760	$46,462,985	—
Consumer discretionary	449,501,488	449,501,488	—	—
Consumer staples	859,134	859,134	—	—
Financials	68,683,367	68,683,367	—	—
Health care	260,982,572	260,982,572	—	—
Industrials	47,739,969	47,739,969	—	—
Information technology	944,155,121	944,155,121	—	—
Materials	12,275,615	12,275,615	—	—
Short-term investments	16,044,007	16,044,007	—	—
Total investments in securities	$2,464,878,018	$2,418,415,033	$46,462,985	—

Capital Appreciation Trust
Investments in securities:
Assets
Common stocks
Communication services	$134,598,329	$134,598,329	—	—
Consumer discretionary	199,195,176	171,385,686	$27,809,490	—
Consumer staples	23,244,893	23,244,893	—	—
Financials	10,140,961	10,140,961	—	—
Health care	34,330,780	34,330,780	—	—
Industrials	27,696,988	21,510,184	6,186,804	—
Information technology	336,551,507	322,509,469	14,042,038	—
Short-term investments	1,055,530	1,055,530	—	—
Total investments in securities	$766,814,164	$718,775,832	$48,038,332	—

Capital Appreciation Value Trust
Investments in securities:
Assets
Common stocks	$338,517,571	$338,517,571	—	—
Preferred securities	5,868,323	5,868,323	—	—
Corporate bonds	36,855,728	—	$36,855,728	—
Term loans	40,283,819	—	40,283,819	—
Asset backed securities	1,270,728	—	1,270,728	—
Short-term investments	62,197,700	58,548,700	3,649,000	—
Total investments in securities	$484,993,869	$402,934,594	$82,059,275	—
Derivatives:
Liabilities
Written options	$(6,141,041)	—	$(6,141,041)	—

Disciplined Value International Trust
Investments in securities:
Assets
Common stocks
Australia	$2,802,836	—	$2,802,836	—
Austria	2,889,656	—	2,889,656	—
Bermuda	4,894,790	$4,894,790	—	—
Canada	9,777,715	9,777,715	—	—
China	4,765,104	—	4,765,104	—
Finland	8,484,276	—	8,484,276	—

Table of Contents

Significant accounting policies, continued

	Total value at 6-30-21	Level 1 quoted price	Level 2 significant observable inputs	Level 3 significant unobservable inputs
Disciplined Value International Trust (continued)
France	$44,857,125	—	$44,857,125	—
Germany	24,236,719	—	24,236,719	—
Greece	1,859,047	—	1,859,047	—
Hong Kong	4,390,941	—	4,390,941	—
India	1,139,283	$1,139,283	—	—
Ireland	3,158,930	—	3,158,930	—
Isle of Man	2,220,006	—	2,220,006	—
Italy	2,714,675	—	2,714,675	—
Japan	52,227,614	—	52,227,614	—
Macau	1,752,209	—	1,752,209	—
Netherlands	15,264,164	—	15,264,164	—
Norway	4,808,205	—	4,808,205	—
Singapore	2,062,971	—	2,062,971	—
South Korea	24,164,798	2,121,307	22,043,491	—
Spain	1,867,295	—	1,867,295	—
Sweden	11,398,717	—	11,398,717	—
Switzerland	37,415,049	—	37,415,049	—
United Kingdom	29,741,940	7,023,573	22,718,367	—
United States	11,286,263	11,286,263	—	—
Preferred securities	4,725,776	—	4,725,776	—
Short-term investments	14,355,498	14,355,498	—	—
Total investments in securities	$329,261,602	$50,598,429	$278,663,173	—
Level 3 includes securities valued at $0. Refer to Portfolio of Investments.

Emerging Markets Value Trust
Investments in securities:
Assets
Common stocks
Australia	$124,754	—	$124,754	—
Belgium	34,390	—	34,390	—
Brazil	9,535,616	$9,535,616	—	—
Canada	130,103	130,103	—	—
Chile	1,140,928	1,140,928	—	—
China	65,814,224	9,690,975	55,981,487	$141,762
Colombia	247,216	247,216	—	—
Czech Republic	355,671	—	355,671	—
Greece	681,007	—	681,007	—
Hong Kong	15,270,342	—	15,233,797	36,545
Hungary	428,722	—	428,722	—
India	32,455,724	1,170,963	31,278,485	6,276
Indonesia	3,221,580	—	3,178,613	42,967
Malaysia	4,136,872	—	4,136,872	—
Mexico	6,095,297	6,095,297	—	—
Philippines	2,126,470	—	2,126,282	188
Poland	1,885,612	—	1,885,612	—
Qatar	1,272,818	—	1,272,818	—
Russia	3,849,427	—	3,849,427	—
Saudi Arabia	5,454,710	—	5,454,710	—
South Africa	10,563,049	577,833	9,985,216	—
South Korea	39,423,138	4,139,989	35,283,149	—
Taiwan	45,930,543	—	45,930,543	—
Thailand	5,013,028	—	5,013,028	—
Turkey	1,395,510	—	1,394,915	595
Ukraine	111,168	—	111,168	—
United Arab Emirates	1,496,727	—	1,496,727	—
United States	132,018	—	132,018	—

Table of Contents

Significant accounting policies, continued

	Total value at 6-30-21	Level 1 quoted price	Level 2 significant observable inputs	Level 3 significant unobservable inputs
Emerging Markets Value Trust (continued)
Preferred securities
Brazil	$4,651,139	$4,651,139	—	—
Colombia	101,164	101,164	—	—
Philippines	16,487	—	$16,487	—
Warrants	986	986	—	—
Short-term investments	2,547,070	2,547,070	—	—
Total investments in securities	$265,643,510	$40,029,279	$225,385,898	$228,333
Derivatives:
Liabilities
Futures	$(9,468)	$(9,468)	—	—
Level 3 includes securities valued at $0. Refer to Portfolio of Investments.

Equity Income Trust
Investments in securities:
Assets
Common stocks
Communication services	$83,424,281	$83,424,281	—	—
Consumer discretionary	72,352,946	72,352,946	—	—
Consumer staples	114,779,408	114,779,408	—	—
Energy	103,208,522	74,629,798	$28,578,724	—
Financials	377,021,441	377,021,441	—	—
Health care	239,037,548	226,086,456	12,951,092	—
Industrials	197,067,164	196,155,788	911,376	—
Information technology	147,270,917	147,270,917	—	—
Materials	96,543,650	90,805,299	5,738,351	—
Real estate	68,091,935	68,091,935	—	—
Utilities	118,299,346	118,299,346	—	—
Preferred securities	25,082,217	25,082,217	—	—
Short-term investments	26,823,569	26,823,569	—	—
Total investments in securities	$1,669,002,944	$1,620,823,401	$48,179,543	—

Financial Industries Trust
Investments in securities:
Assets
Common stocks
Financials
Banks	$77,351,102	$70,826,590	$6,524,512	—
Capital markets	26,598,851	24,366,603	2,232,248	—
Consumer finance	12,854,600	12,854,600	—	—
Diversified financial services	6,746,086	5,109,231	1,636,855	—
Insurance	27,447,726	27,447,726	—	—
Thrifts and mortgage finance	1,644,037	1,644,037	—	—
Information technology
IT services	8,209,512	8,209,512	—	—
Real estate
Equity real estate investment trusts	5,989,604	5,652,512	337,092	—
Real estate management and development	944,854	—	944,854	—
Short-term investments	2,751,000	—	2,751,000	—
Total investments in securities	$170,537,372	$156,110,811	$14,426,561	—

Table of Contents

Significant accounting policies, continued

	Total value at 6-30-21	Level 1 quoted price	Level 2 significant observable inputs	Level 3 significant unobservable inputs
Fundamental All Cap Core Trust
Investments in securities:
Assets
Common stocks
Communication services	$413,439,986	$413,439,986	—	—
Consumer discretionary	486,648,672	433,152,975	$53,495,697	—
Consumer staples	193,260,654	172,519,814	20,740,840	—
Energy	133,997,425	133,997,425	—	—
Financials	438,433,625	438,433,625	—	—
Health care	168,566,539	168,566,539	—	—
Industrials	219,088,945	219,088,945	—	—
Information technology	317,434,383	288,069,610	29,364,773	—
Materials	23,890,135	23,890,135	—	—
Real estate	98,320,203	98,320,203	—	—
Short-term investments	35,082,000	—	35,082,000	—
Total investments in securities	$2,528,162,567	$2,389,479,257	$138,683,310	—

Fundamental Large Cap Value Trust
Investments in securities:
Assets
Common stocks
Communication services	$79,780,936	$79,780,936	—	—
Consumer discretionary	64,910,390	64,910,390	—	—
Consumer staples	73,507,472	45,883,426	$27,624,046	—
Energy	78,379,097	78,379,097	—	—
Financials	191,723,555	191,723,555	—	—
Health care	108,244,105	108,244,105	—	—
Industrials	99,451,033	99,451,033	—	—
Information technology	64,585,587	53,325,805	11,259,782	—
Materials	7,775,532	7,775,532	—	—
Real estate	19,557,055	19,557,055	—	—
Short-term investments	22,470,000	—	22,470,000	—
Total investments in securities	$810,384,762	$749,030,934	$61,353,828	—

Global Equity Trust
Investments in securities:
Assets
Common stocks
China	$3,864,104	$3,864,104	—	—
France	30,641,090	—	$30,641,090	—
Germany	4,776,582	—	4,776,582	—
Ireland	7,064,039	—	7,064,039	—
Japan	14,332,141	—	14,332,141	—
Netherlands	34,395,014	—	34,395,014	—
Switzerland	14,854,383	5,135,351	9,719,032	—
United Kingdom	29,483,777	—	29,483,777	—
United States	199,674,699	199,674,699	—	—
Preferred securities	10,449,367	—	10,449,367	—
Short-term investments	4,524,300	4,524,300	—	—
Total investments in securities	$354,059,496	$213,198,454	$140,861,042	—
Derivatives:
Assets
Forward foreign currency contracts	$280,865	—	$280,865	—

Table of Contents

Significant accounting policies, continued

	Total value at 6-30-21	Level 1 quoted price	Level 2 significant observable inputs	Level 3 significant unobservable inputs
Global Equity Trust (continued)
Liabilities
Forward foreign currency contracts	$(319,180)	—	$(319,180)	—

Health Sciences Trust
Investments in securities:
Assets
Common stocks
Consumer discretionary	$544,627	$179,931	—	$364,696
Consumer staples	32,592	32,592	—	—
Financials	2,114,429	2,114,429	—	—
Health care	330,775,553	315,609,591	$15,156,939	9,023
Preferred securities
Consumer discretionary	814,367	—	—	814,367
Health care	1,927,961	—	1,927,961	—
Warrants	53,446	53,446	—	—
Short-term investments	2,310,929	2,310,929	—	—
Total investments in securities	$338,573,904	$320,300,918	$17,084,900	$1,188,086

International Equity Index Trust
Investments in securities:
Assets
Common stocks
Argentina	$29,484	$29,484	—	—
Australia	42,636,112	—	$42,636,112	—
Austria	1,235,558	—	1,235,558	—
Belgium	5,167,275	—	5,167,275	—
Brazil	10,695,548	10,695,548	—	—
Canada	65,450,458	65,022,264	428,194	—
Chile	866,551	603,064	263,487	—
China	96,139,550	30,775,221	65,318,699	$45,630
Colombia	249,684	249,684	—	—
Czech Republic	323,205	—	323,205	—
Denmark	15,040,432	—	15,040,432	—
Egypt	172,646	—	172,646	—
Finland	7,542,565	—	7,542,565	—
France	64,851,861	—	64,851,861	—
Germany	50,436,007	—	50,436,007	—
Greece	467,992	—	464,668	3,324
Hong Kong	24,452,334	498,121	23,942,342	11,871
Hungary	615,167	—	615,167	—
India	27,203,518	4,515,688	22,687,830	—
Indonesia	3,029,179	7,758	3,021,421	—
Ireland	6,141,934	—	6,141,934	—
Isle of Man	469,450	—	469,450	—
Israel	3,613,956	1,244,681	2,369,275	—
Italy	12,126,672	—	12,126,672	—
Japan	134,210,071	—	134,210,071	—
Jordan	194,218	—	194,218	—
Luxembourg	1,813,979	—	1,813,979	—
Macau	438,384	—	438,384	—
Malaysia	3,609,058	—	3,609,058	—
Mexico	4,773,368	4,773,368	—	—
Netherlands	32,606,327	—	32,606,327	—
New Zealand	1,801,378	—	1,801,378	—
Norway	3,907,913	—	3,907,913	—

Table of Contents

Significant accounting policies, continued

	Total value at 6-30-21	Level 1 quoted price	Level 2 significant observable inputs	Level 3 significant unobservable inputs
International Equity Index Trust (continued)
Peru	$552,617	$552,617	—	—
Philippines	1,780,398	—	$1,780,398	—
Poland	2,208,918	—	2,208,918	—
Portugal	824,051	—	824,051	—
Romania	106,424	—	106,424	—
Russia	8,627,078	6,770,998	1,856,080	—
Saudi Arabia	7,883,363	—	7,883,363	—
Singapore	6,430,049	137,300	6,292,749	—
South Africa	9,845,385	—	9,845,385	—
South Korea	33,756,392	105,777	33,650,615	—
Spain	14,537,348	86,567	14,450,781	—
Sweden	20,518,477	—	20,518,477	—
Switzerland	59,191,610	—	59,191,610	—
Taiwan	37,942,882	—	37,942,882	—
Thailand	4,196,116	—	4,196,116	—
Turkey	722,292	—	722,292	—
United Arab Emirates	1,685	—	1,685	—
United Kingdom	72,645,418	—	72,645,418	—
United States	473,306	473,306	—	—
Uruguay	263,016	263,016	—	—
Preferred securities
Brazil	3,624,589	3,624,589	—	—
Germany	3,775,183	—	3,775,183	—
South Korea	2,051,886	—	2,051,886	—
Corporate bonds	1,428	—	1,428	—
Rights	14,843	14,843	—	—
Warrants	1,281	1,281	—	—
Short-term investments	19,693,754	19,693,754	—	—
Total investments in securities	$933,981,623	$150,138,929	$783,781,869	$60,825
Derivatives:
Liabilities
Futures	$(154,447)	$(154,447)	—	—
Level 3 includes securities valued at $0. Refer to Portfolio of Investments.

International Small Company Trust
Investments in securities:
Assets
Common stocks
Australia	$8,548,381	$60,475	$8,482,512	$5,394
Austria	2,089,489	—	2,089,489	—
Belgium	1,878,936	21,660	1,857,276	—
Bermuda	95,981	—	95,981	—
Cambodia	38,576	—	38,576	—
Canada	13,546,073	13,546,072	—	1
China	82,511	—	82,511	—
Denmark	2,696,153	—	2,696,153	—
Finland	3,118,702	—	3,118,702	—
France	5,358,848	—	5,356,530	2,318
Gabon	3,382	—	3,382	—
Georgia	61,571	—	61,571	—
Germany	8,061,244	—	8,061,244	—
Gibraltar	84,282	—	84,282	—
Greece	72	—	—	72
Guernsey, Channel Islands	2,097	—	2,097	—
Hong Kong	3,242,795	—	3,217,075	25,720

Table of Contents

Significant accounting policies, continued

	Total value at 6-30-21	Level 1 quoted price	Level 2 significant observable inputs	Level 3 significant unobservable inputs
International Small Company Trust (continued)
Ireland	$996,317	—	$996,317	—
Isle of Man	123,308	—	123,308	—
Israel	1,922,097	$123,507	1,798,590	—
Italy	4,149,986	—	4,149,986	—
Japan	28,487,782	—	28,487,782	—
Jersey, Channel Islands	195,963	—	195,963	—
Liechtenstein	64,058	—	64,058	—
Luxembourg	745,518	—	745,518	—
Macau	19,545	—	19,545	—
Malaysia	197,698	—	197,698	—
Malta	185,709	—	185,709	—
Netherlands	3,576,007	—	3,576,007	—
New Zealand	743,603	—	743,603	—
Norway	1,072,502	—	1,072,502	—
Peru	35,121	—	35,121	—
Portugal	336,002	—	336,002	—
Russia	51,214	—	51,214	—
Singapore	1,630,735	—	1,584,162	$46,573
South Africa	170,853	—	170,853	—
Spain	2,571,715	—	2,571,715	—
Sweden	4,678,666	—	4,678,666	—
Switzerland	8,212,424	—	8,212,424	—
United Arab Emirates	27,195	—	27,195	—
United Kingdom	17,039,752	194,281	16,840,759	4,712
United States	770,989	294,380	476,609	—
Preferred securities	418,380	—	418,380	—
Rights	433	433	—	—
Short-term investments	1,975,132	1,975,132	—	—
Total investments in securities	$129,307,797	$16,215,940	$113,007,067	$84,790
Derivatives:
Liabilities
Futures	$(20,387)	$(20,387)	—	—
Level 3 includes securities valued at $0. Refer to Portfolio of Investments.

Lifestyle Balanced Portfolio
Investments in securities:
Assets
Affiliated investment companies	$1,200,909,418	$1,200,909,418	—	—
Total investments in securities	$1,200,909,418	$1,200,909,418	—	—

Lifestyle Conservative Portfolio
Investments in securities:
Assets
Affiliated investment companies	$234,882,302	$234,882,302	—	—
Total investments in securities	$234,882,302	$234,882,302	—	—

Lifestyle Growth Portfolio
Investments in securities:
Assets
Affiliated investment companies	$6,440,890,193	$6,440,890,193	—	—
Total investments in securities	$6,440,890,193	$6,440,890,193	—	—

Table of Contents

Significant accounting policies, continued

	Total value at 6-30-21	Level 1 quoted price	Level 2 significant observable inputs	Level 3 significant unobservable inputs
Lifestyle Moderate Portfolio
Investments in securities:
Assets
Affiliated investment companies	$365,164,802	$365,164,802	—	—
Total investments in securities	$365,164,802	$365,164,802	—	—

Mid Cap Index Trust
Investments in securities:
Assets
Common stocks	$1,381,750,715	$1,381,750,715	—	—
Short-term investments	82,582,904	6,098,615	$76,484,289	—
Total investments in securities	$1,464,333,619	$1,387,849,330	$76,484,289	—
Derivatives:
Liabilities
Futures	$(977,070)	$(977,070)	—	—

Mid Cap Stock Trust
Investments in securities:
Assets
Common stocks
Communication services	$83,430,591	$83,430,591	—	—
Consumer discretionary	312,357,120	283,633,844	$28,723,276	—
Consumer staples	24,193,669	21,740,998	2,452,671	—
Financials	43,322,045	43,322,045	—	—
Health care	203,371,111	203,371,111	—	—
Industrials	75,362,851	75,362,851	—	—
Information technology	210,083,646	209,118,006	894,790	$70,850
Preferred securities	7,959,975	—	—	7,959,975
Short-term investments	43,773,961	29,973,961	13,800,000	—
Total investments in securities	$1,003,854,969	$949,953,407	$45,870,737	$8,030,825
Unrealized appreciation on unfunded commitments	$2,117,102	—	—	$2,117,102

Mid Value Trust
Investments in securities:
Assets
Common stocks
Communication services	$31,792,916	$31,792,916	—	—
Consumer discretionary	17,944,792	14,875,998	$3,068,794	—
Consumer staples	56,082,710	51,718,510	4,364,200	—
Energy	83,901,472	80,485,531	3,415,941	—
Financials	108,444,228	101,446,471	6,997,757	—
Health care	110,793,919	105,822,560	4,971,359	—
Industrials	44,401,846	41,193,141	3,208,705	—
Information technology	16,000,054	16,000,054	—	—
Materials	63,530,938	58,575,527	4,955,411	—
Real estate	41,294,190	41,294,190	—	—
Utilities	46,655,785	46,655,785	—	—
Preferred securities	941,695	941,695	—	—
Corporate bonds	1,484,080	—	1,484,080	—
Term loans	88,000	—	88,000	—
Short-term investments	49,391,713	49,391,713	—	—
Total investments in securities	$672,748,338	$640,194,091	$32,554,247	—

100

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Significant accounting policies, continued

	Total value at 6-30-21	Level 1 quoted price	Level 2 significant observable inputs	Level 3 significant unobservable inputs
Real Estate Securities Trust
Investments in securities:
Assets
Common stocks	$370,514,729	$370,514,729	—	—
Short-term investments	1,573,727	1,573,727	—	—
Total investments in securities	$372,088,456	$372,088,456	—	—

Science & Technology Trust
Investments in securities:
Assets
Common stocks
Communication services	$179,199,847	$158,690,020	$20,509,827	—
Consumer discretionary	278,757,337	207,987,159	70,770,178	—
Health care	8,493,251	8,493,251	—	—
Industrials	8,653,078	8,653,078	—	—
Information technology	646,928,446	589,188,382	57,740,064	—
Short-term investments	59,550,897	40,014,897	19,536,000	—
Total investments in securities	$1,181,582,856	$1,013,026,787	$168,556,069	—

Small Cap Index Trust
Investments in securities:
Assets
Common stocks
Communication services	$24,530,126	$24,530,126	—	—
Consumer discretionary	80,843,471	80,816,814	$26,657	—
Consumer staples	21,561,078	21,561,078	—	—
Energy	29,141,261	29,141,261	—	—
Financials	100,504,209	100,503,297	—	$912
Health care	143,564,552	143,401,724	—	162,828
Industrials	96,428,706	96,428,706	—	—
Information technology	92,195,068	92,195,068	—	—
Materials	25,907,340	25,907,340	—	—
Real estate	46,414,211	46,414,211	—	—
Utilities	16,100,776	16,100,776	—	—
Rights	74,897	74,897	—	—
Warrants	6,680	6,680	—	—
Short-term investments	38,297,996	5,698,446	32,599,550	—
Total investments in securities	$715,570,371	$682,780,424	$32,626,207	$163,740
Derivatives:
Assets
Futures	$5,224	$5,224	—	—
Level 3 includes securities valued at $0. Refer to Portfolio of Investments.

Small Cap Opportunities Trust
Investments in securities:
Assets
Common stocks
Communication services	$3,574,155	$3,574,155	—	—
Consumer discretionary	23,351,516	23,351,516	—	—
Consumer staples	6,930,299	6,930,299	—	—
Energy	9,630,556	9,630,556	—	—
Financials	34,219,976	34,219,393	—	$583
Health care	21,756,737	21,731,102	—	25,635

101

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Significant accounting policies, continued

	Total value at 6-30-21	Level 1 quoted price	Level 2 significant observable inputs	Level 3 significant unobservable inputs
Small Cap Opportunities Trust (continued)
Industrials	$30,861,676	$30,861,676	—	—
Information technology	20,821,677	20,821,677	—	—
Materials	11,346,653	11,346,653	—	—
Real estate	2,452,423	2,452,423	—	—
Utilities	1,081,479	1,081,479	—	—
Preferred securities	68,851	68,851	—	—
Warrants	2,380	2,380	—	—
Short-term investments	774,038	774,038	—	—
Total investments in securities	$166,872,416	$166,846,198	—	$26,218

Small Cap Stock Trust
Investments in securities:
Assets
Common stocks
Communication services	$17,331,987	$17,331,987	—	—
Consumer discretionary	85,783,748	82,992,078	$2,791,670	—
Consumer staples	6,199,402	5,324,493	874,909	—
Financials	16,555,543	16,555,543	—	—
Health care	121,398,063	121,398,063	—	—
Industrials	48,624,165	48,624,165	—	—
Information technology	124,884,842	121,271,352	3,570,532	$42,958
Materials	2,775,736	2,775,736	—	—
Real estate	15,060,702	15,060,702	—	—
Short-term investments	11,041,650	9,241,650	1,800,000	—
Total investments in securities	$449,655,838	$440,575,769	$9,037,111	$42,958
Unrealized appreciation on unfunded commitments	$(70,880)	—	—	$(70,880)

Small Cap Value Trust
Investments in securities:
Assets
Common stocks
Consumer discretionary	$30,239,337	$30,239,337	—	—
Consumer staples	32,462,202	20,257,724	$12,204,478	—
Energy	19,790,079	19,790,079	—	—
Financials	131,815,943	131,815,943	—	—
Health care	39,772,810	39,772,810	—	—
Industrials	136,094,476	124,006,280	12,088,196	—
Information technology	41,819,261	41,819,261	—	—
Materials	40,027,571	40,027,571	—	—
Real estate	51,859,141	51,859,141	—	—
Utilities	21,982,014	21,982,014	—	—
Short-term investments	15,918,223	218,223	15,700,000	—
Total investments in securities	$561,781,057	$521,788,383	$39,992,674	—

Small Company Value Trust
Investments in securities:
Assets
Common stocks	$170,394,106	$170,394,106	—	—
Warrants	11,710	11,710	—	—
Short-term investments	4,001,287	4,001,287	—	—
Total investments in securities	$174,407,103	$174,407,103	—	—

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	Total value at 6-30-21	Level 1 quoted price	Level 2 significant observable inputs	Level 3 significant unobservable inputs
Strategic Equity Allocation Trust
Investments in securities:
Assets
Common stocks
Communication services	$714,548,267	$580,403,014	$134,145,253	—
Consumer discretionary	1,110,743,147	762,203,826	348,539,321	—
Consumer staples	616,420,895	331,310,068	285,110,827	—
Energy	265,107,069	176,153,579	88,953,490	—
Financials	1,195,850,079	730,685,819	465,163,615	$645
Health care	1,156,890,967	818,560,777	338,219,928	110,262
Industrials	1,036,815,210	609,571,103	427,244,107	—
Information technology	1,766,376,655	1,520,875,374	245,501,281	—
Materials	406,073,292	188,435,487	217,637,805	—
Real estate	307,219,805	223,941,872	83,277,933	—
Utilities	248,209,746	154,390,275	93,819,471	—
Preferred securities	16,903,531	—	16,903,531	—
Rights	99,495	99,495	—	—
Warrants	147,509	147,509	—	—
Short-term investments	447,050,232	47,340,809	399,709,423	—
Total investments in securities	$9,288,455,899	$6,144,119,007	$3,144,225,985	$110,907
Derivatives:
Assets
Futures	$4,639,961	$4,639,961	—	—
Liabilities
Futures	(3,963,750)	(3,963,750)	—	—
Level 3 includes securities valued at $0. Refer to Portfolio of Investments.

Total Stock Market Index Trust
Investments in securities:
Assets
Common stocks
Communication services	$97,013,783	$97,012,918	$797	$68
Consumer discretionary	112,470,843	112,465,447	5,367	29
Consumer staples	51,414,367	51,414,367	—	—
Energy	27,347,343	27,347,343	—	—
Financials	100,737,306	100,737,184	—	122
Health care	113,120,241	113,103,295	—	16,946
Industrials	78,801,157	78,801,157	—	—
Information technology	228,845,260	228,845,260	—	—
Materials	20,852,238	20,852,043	—	195
Real estate	28,110,783	28,103,344	—	7,439
Utilities	19,365,093	19,365,093	—	—
Preferred securities	42,726	42,726	—	—
Corporate bonds	886	—	886	—
Rights	6,147	6,147	—	—
Warrants	3,323	2,677	634	12
Short-term investments	38,828,045	9,232,360	29,595,685	—
Total investments in securities	$916,959,541	$887,331,361	$29,603,369	$24,811
Derivatives:
Assets
Futures	$356,305	$356,305	—	—
Level 3 includes securities valued at $0. Refer to Portfolio of Investments.

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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, if any, 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.

Mid Cap Stock Trust	Common stocks	Preferred securities	Unfunded commitments	Total
Balance as of 12-31-20	$816,142	$20,108,657	—	$20,924,799
Realized gain (loss)	360,889	928,273	—	1,289,162
Change in unrealized appreciation (depreciation)	(399,749)	(6,055,952)	$2,117,102	(4,338,599)
Purchases	—	—	—	—
Sales	(706,432)	(7,021,003)	—	(7,727,435)
Transfers into Level 3	—	—	—	—
Transfers out of Level 3	—	—	—	—
Balance as of 6-30-21	$70,850	$7,959,975	$2,117,102	$10,147,927
Change in unrealized at period end¹	—	$636,531	$2,117,102	$2,753,633


¹	Change in unrealized appreciation (depreciation) attributable to Level 3 securities held at period end. This balance is included in change in unrealized appreciation (depreciation) on the Statements of operations.

The valuation techniques and significant amounts of unobservable inputs used in the fair value measurement of the portfolios' Level 3 securities are outlined in the table below.

Mid Cap Stock Trust	Fair Value at 6-30-21	Valuation technique	Significant unobservable inputs	Input/Range*
Common Stocks	$70,850	Recovery Value	Expected future value Discount	$0.33 15%

Preferred Securities	$5,056,092	Market Comparable	EV to revenue multiple Discount OPM - Volatility	1.84x 17.5%
	$1,782,975	Market Comparable and Option Model	EV to revenue multiple Discount OPM - Volatility	7.35x 25% 45%
	$1,072,477	Transactions Indicative of Value	Adjusted prior/recent transactions Exchange Ratio Discount Probability Weightings	$11.50 0.83 7.5% 90%
	$48,431	Recovery Value	Expected future value Discount	$0.355 55%
	$7,959,975

Unrealized appreciation on unfunded commitments	$2,289,515	Transaction Indicative of Value	Prior/recent transactions Discount	$15.02 10%
	$(172,413)	Transaction Indicative of Value	Prior/recent transactions Probability weighting Discount	$10.31 90% 10%
	$2,117,102

Total	$10,147,927

*A weighted average is an average in which each input in the grouping is assigned a weighting before summing to a single average value. The weighting of the input is determined based on a security’s fair value as a percentage of the total fair value.

A change to unobservable inputs of the portfolios' Level 3 securities as of June 30, 2021, could have resulted in changes to the fair value measurement, as follows:

Significant Unobservable Input	Impact to Valuation if input had increased	Impact to Valuation if input had decreased
Adjusted prior/recent transactions or prior/recent transactions	Increase	Decrease
Discount	Decrease	Increase
Enterprise value (“EV”) to revenue multiple	Increase	Decrease
Exchange Ratio	Increase	Decrease
Expected future value	Increase	Decrease
Options Pricing Method (OPM) - Volatility	Variable	Variable
Probability weighting	Variable	Variable

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collateral held is in an amount not less than the principal amount of the repurchase agreement plus any accrued interest. Collateral received by the portfolio for repurchase agreements is disclosed in the Portfolios of investments as part of the caption related to the repurchase agreement.

Repurchase agreements are typically governed by the terms and conditions of the Master Repurchase Agreement and/or Global Master Repurchase Agreement (collectively, MRA). Upon an event of default, the non-defaulting party may close out all transactions traded under the MRA and net amounts owed. Absent an event of default, assets and liabilities resulting from repurchase agreements are not offset in the Statements of assets and liabilities. 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 claims resulting from close-out of the transactions.

Term loans (Floating rate loans). The portfolios may invest in term loans, which are debt securities and are often rated below investment grade at the time of purchase. Term loans are generally subject to legal or contractual restrictions on resale and generally have longer settlement periods than conventional debt securities. Term loans involve special types of risk, including credit risk, interest-rate risk, counterparty risk, and risk associated with extended settlement. The liquidity of term loans, including the volume and frequency of secondary market trading in such loans, varies significantly over time and among individual loans. During periods of infrequent trading, valuing a term loan can be more difficult and buying and selling a term loan at an acceptable price can be more difficult and delayed, which could result in a loss.

The portfolios' 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 portfolios' failure to receive scheduled payments on a term loan due to a default, bankruptcy or other reason would adversely affect the portfolios' income and would likely reduce the value of its assets. Transactions in loan investments typically take a significant amount of time (i.e., seven days or longer) to settle. This could pose a liquidity risk to the portfolios and, if the portfolios' exposure to such investments is substantial, it could impair the portfolios' ability to meet redemptions. Because term loans may not be 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. There is greater risk that the portfolios may have limited rights to enforce the terms of an underlying loan than for other types of debt instruments.

Special purpose acquisition companies. Special purpose acquisition companies (SPACs) are collective investment structures that allow public stock market qualified investors to invest in private equity type transactions (PIPE). SPACs are shell or blank-check companies, that have no operations but go public with the intention of merging with or acquiring a company with the proceeds of the SPAC’s initial public offering (“IPO”). The portfolios may enter into a commitment with a SPAC to purchase PIPE shares if and when the SPAC completes its merger or acquisition; however if the commitment expires, then no shares are purchased. Purchased PIPE shares will be restricted from trading until the registration statement for the shares is declared effective. Upon registration, the shares can be freely sold; however, in certain circumstances, the issuer may have the right to temporarily suspend trading of the shares in the first year after the merger. The securities issued by a SPAC, which are typically traded in the over-the-counter market, may be considered illiquid, more difficult to value, and/or be subject to restrictions on resale. Mid Cap Stock Trust and Small Cap Stock Trust had unfunded commitments outstanding of $9,165,000 and $6,876,000, respectively, to purchase PIPE shares as of June 30, 2021. Unrealized appreciation (depreciation) on the SPAC commitments is reflected on the Statements of assets and liabilities as Unrealized appreciation (depreciation) on unfunded commitments.

Security transactions and related investment income. Investment security transactions are accounted for on a trade date plus one basis for daily NAV calculations. However, for financial reporting purposes, investment transactions are reported on trade date. Interest income is accrued as earned. Interest income includes coupon interest and amortization/accretion of premiums/discounts on debt securities. Debt obligations may be placed in a non-accrual status and related interest income may be reduced by stopping current accruals and writing off interest receivable when the collection of all or a portion of interest has become doubtful. Capital gain distributions from underlying funds are recorded on ex-date. Dividend income is recorded on ex-date, except for dividends of certain foreign securities where the dividend may not be known until after the ex-date. In those cases, dividend income, net of withholding taxes, is recorded when the portfolio becomes aware of the dividends. Non-cash dividends, if any, are recorded at the fair market value of the securities received. Distributions received on securities that represent a tax return of capital and/or capital gain, if any, are recorded as a reduction of cost of investments and/or as a realized gain, if amounts are estimable. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds from litigation. Return of capital distributions from underlying funds, if any, are treated as a reduction of cost.

Real estate investment trusts. The portfolios may invest in real estate investment trusts (REITs). Distributions from REITs may be recorded as income and subsequently characterized by the REIT at the end of their fiscal year as a reduction of cost of investments and/or as a realized gain. As a result, the portfolios will estimate the components of distributions from these securities. Such estimates are revised when the actual components of the distributions are known.

Securities lending. The portfolios may lend their securities to earn additional income. The portfolios receive collateral from the borrower in an amount not less than the market value of the loaned securities. The portfolios will invest their cash collateral in JHCT, an affiliate of the portfolios, which has a floating NAV and is registered with the Securities and Exchange Commission (SEC) as an investment company. JHCT invests in short-term money market investments. Each portfolio will receive the benefit of any gains and bear any losses generated by JHCT with respect to the cash collateral.

The portfolios have the right to recall loaned securities on demand. If a borrower fails to return loaned securities when due, then the lending agent is responsible and indemnifies the portfolios for the lent securities. The lending agent uses the collateral received from the borrower to purchase replacement securities of the same issue, type, class and series of the loaned securities. If the value of the collateral is less than the purchase cost of replacement securities, the lending agent is responsible for satisfying the shortfall but only to the extent that the shortfall is not due to any decrease in the value of JHCT.

Although the risk of loss on securities lent is mitigated by receiving collateral from the borrower and through lending agent indemnification, the portfolios could experience a delay in recovering securities or could experience a lower than expected return if the borrower fails to return the securities on a timely basis. The portfolios receive compensation for lending their securities by retaining a portion of the return on the investment of the collateral and compensation from fees earned from borrowers of the securities. Securities lending income received by the portfolios is net of fees retained by the securities lending agent. Net income received from JHCT is a component of securities lending income as recorded on the Statements of operations.

Obligations to repay collateral received by the portfolios are shown on the Statements of assets and liabilities as Payable upon return of securities loaned and are secured by the loaned securities. The following table summarizes the values of securities loaned by the portfolios and the corresponding cash collateral received at June 30, 2021. In addition, non-cash collateral in the form of U.S. Treasuries was pledged, as indicated below. This non-cash collateral cannot be sold or repledged by the portfolios, and accordingly, is not reflected in the portfolios' net assets.

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Portfolio	Market value of securities on loan	Cash collateral received	Non-cash collateral
500 Index Trust	$1,016,056	$1,036,485	—
Blue Chip Growth Trust	6,028,963	6,158,223	—
Disciplined Value International Trust	11,428,106	9,544,107	$2,469,521
Emerging Markets Value Trust	4,868,824	2,539,215	2,856,292
Equity Income Trust	6,533,050	6,669,672	—
International Equity Index Trust	13,941,022	7,364,452	7,508,761
International Small Company Trust	3,126,802	1,979,678	1,448,179
Mid Cap Index Trust	6,588,372	6,098,610	643,215
Mid Cap Stock Trust	29,108,796	29,974,300	—
Mid Value Trust	2,741,647	2,828,683	—
Science & Technology Trust	9,489,636	9,697,384	—
Small Cap Index Trust	16,168,899	5,679,303	11,286,970
Small Cap Opportunities Trust	425,948	435,768	—
Small Cap Stock Trust	8,980,464	9,255,746	—
Small Cap Value Trust	213,065	218,225	—
Small Company Value Trust	504,188	515,526	—
Strategic Equity Allocation Trust	62,510,668	47,332,776	16,948,761
Total Stock Market Index Trust	8,911,447	9,228,874	—

Foreign investing. Assets, including investments, and liabilities denominated in foreign currencies are translated into U.S. dollar values each day at the prevailing exchange rate. Purchases and sales of securities, income and expenses are translated into U.S. dollars at the prevailing exchange rate on the date of the transaction. The effect of changes in foreign currency exchange rates on the value of securities is reflected as a component of the realized and unrealized gains (losses) on investments. Foreign investments are subject to a decline in the value of a foreign currency versus the U.S. dollar, which reduces the dollar value of securities denominated in that currency.

Portfolios that invest internationally generally carry more risk than portfolios that invest strictly in U.S. securities. These risks are heightened for investments in emerging markets. Risks can result from differences in economic and political conditions, regulations, market practices (including higher transaction costs), accounting standards and other factors.

There may be unexpected restrictions on investments in companies located in certain foreign countries, such as China. As a result of forced sales of a security, or inability to participate in an investment the manager otherwise believes is attractive, a fund may incur losses.

Trading in certain Chinese securities through Hong Kong Stock Connect or Bond Connect, mutual market access programs that enable foreign investment in the People's Republic of China, is subject to certain restrictions and risks. Securities offered through these programs may lose purchase eligibility and any changes in laws, regulations and policies impacting these programs may affect security prices, which could adversely affect the fund's performance.

Foreign taxes. The portfolios may be subject to withholding tax on income, capital gains or repatriations imposed by certain countries, a portion of which may be recoverable. Foreign taxes are accrued based upon the portfolios' understanding of the tax rules and rates that exist in the foreign markets in which it invests. Taxes are accrued based on gains realized by the portfolios as a result of certain foreign security sales. In certain circumstances, estimated taxes are accrued based on unrealized appreciation of such securities. Investment income is recorded net of foreign withholding taxes.

Overdraft. The portfolios may have the ability to borrow from banks for temporary or emergency purposes, including meeting redemption requests that otherwise might require the untimely sale of securities. Pursuant to the portfolios' custodian agreement, the custodian may loan money to the portfolios to make properly authorized payments. The portfolios are obligated to repay the custodian for any overdraft, including any related costs or expenses. The custodian may have a lien, security interest or security entitlement in any portfolio property that is not otherwise segregated or pledged, to the extent of any overdraft, and to the maximum extent permitted by law. Overdrafts at period end, if any, are presented under the caption Due to custodian in the Statements of assets and liabilities.

Line of credit. The portfolios and other affiliated funds, excluding International Equity Index Trust, have entered into a syndicated line of credit agreement with Citibank, N.A. as the administrative agent that enables them to participate in a $1 billion unsecured committed line of credit. Excluding commitments designated for a certain fund and subject to the needs of all other affiliated funds, a portfolio can borrow up to an aggregate commitment amount of $750 million, subject to asset coverage and other limitations as specified in the agreement. Prior to June 24, 2021, a portfolio could borrow up to an aggregate commitment amount of $850 million.

International Equity Index Trust and and other affiliated funds have entered into an unsecured $50 million line of credit agreement with BNP Paribas. Subject to the needs of other affiliated funds, International Equity Index Trust can borrow up to the $50 million, subject to asset coverage and other limitations as specified in the agreement. Effective March 26, 2021, Real Estate Securities Trust transitioned from the BNP Paribas arrangement to the syndicated line of credit agreement with Citibank, N.A.

A commitment fee payable at the end of each calendar quarter, based on the average daily unused portion of each line of credit, is charged to each participating portfolio based on a combination of fixed and asset-based allocations and is reflected in Other expenses on the Statements of operations. For the six months ended June 30, 2021, the portfolios had no borrowings under the line of credit.

Commitment fees for the six months ended June 30, 2021 were as follows:

Portfolio	Commitment fee
500 Index Trust	$21,832
American Asset Allocation Trust	6,631
American Global Growth Trust	3,510

Portfolio	Commitment fee
American Growth Trust	$5,635
American Growth-Income Trust	5,647
American International Trust	4,221

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Portfolio	Commitment fee
Blue Chip Growth Trust	$9,019
Capital Appreciation Trust	4,741
Capital Appreciation Value Trust	4,077
Disciplined Value International Trust	3,688
Emerging Markets Value Trust	3,509
Equity Income Trust	7,144
Financial Industries Trust	3,277
Fundamental All Cap Core Trust	9,005
Fundamental Large Cap Value Trust	4,835
Global Equity Trust	3,767
Health Sciences Trust	3,700
International Equity Index Trust	5,199
International Small Company Trust	3,184
Lifestyle Balanced Portfolio	5,915
Lifestyle Conservative Portfolio	3,476

Portfolio	Commitment fee
Lifestyle Growth Portfolio	$19,662
Lifestyle Moderate Portfolio	3,802
Mid Cap Index Trust	6,574
Mid Cap Stock Trust	5,372
Mid Value Trust	4,586
Real Estate Securities Trust	3,614
Science & Technology Trust	5,842
Small Cap Index Trust	4,634
Small Cap Opportunities Trust	3,288
Small Cap Stock Trust	4,003
Small Cap Value Trust	4,286
Small Company Value Trust	3,302
Strategic Equity Allocation Trust	27,461
Total Stock Market Index Trust	5,111

Expenses. Within the John Hancock group of funds complex, expenses that are directly attributable to an individual portfolio are allocated to such portfolio. Expenses that are not readily attributable to a specific portfolio are allocated among all portfolios in an equitable manner, taking into consideration, among other things, the nature and type of expense and the portfolio’s relative net assets. Expense estimates are accrued in the period to which they relate and adjustments are made when actual amounts are known.

Class allocations. Income, common expenses and realized and unrealized gains (losses) are determined at the portfolio level and allocated daily to each class of shares based on the net assets of the class. Class-specific expenses, such as distribution and service fees, if any, for all classes, are charged daily at the class level based on the net assets of each class and the specific expense rates applicable to each class.

Federal income taxes. Each portfolio intends to continue to qualify as a regulated investment company by complying with the applicable provisions of the Internal Revenue Code and will not be subject to federal income tax on taxable income that is distributed to shareholders. Therefore, no federal income tax provision is required.

For federal income tax purposes, as of December 31, 2020, certain portfolios have capital loss carryforwards available to offset future net realized capital gains. The following table details the capital loss carryforwards available as of December 31, 2020:

	No Expiration Date
Portfolio	Short Term	Long Term
Disciplined Value International Trust	$17,239,773	$19,812,805
Emerging Markets Value Trust	—	50,093,565
Global Equity Trust	—	39,676,162
Real Estate Securities Trust	10,482,649	—

As of December 31, 2020, the portfolios had no uncertain tax positions that would require financial statement recognition, derecognition or disclosure. The portfolios' federal tax returns are subject to examination by the Internal Revenue Service for a period of three years.

For federal income tax purposes, the costs of investments owned on June 30, 2021, including short-term investments, were as follows:

Portfolio	Aggregate cost	Unrealized appreciation	Unrealized (depreciation)	Net unrealized appreciation/ (depreciation)
500 Index Trust	$3,040,113,990	$4,772,094,524	$(76,369,763)	$4,695,724,761
American Asset Allocation Trust	1,049,359,819	389,391,984	—	389,391,984
American Global Growth Trust	165,574,564	87,505,460	—	87,505,460
American Growth Trust	710,619,039	384,404,085	—	384,404,085
American Growth-Income Trust	809,194,495	273,085,721	—	273,085,721
American International Trust	395,863,050	116,560,925	—	116,560,925
Blue Chip Growth Trust	1,303,347,229	1,164,866,478	(3,335,689)	1,161,530,789
Capital Appreciation Trust	490,859,296	279,064,749	(3,109,881)	275,954,868
Capital Appreciation Value Trust	398,109,725	83,508,594	(2,765,491)	80,743,103
Disciplined Value International Trust	293,057,519	41,934,815	(5,730,732)	36,204,083
Emerging Markets Value Trust	230,405,002	62,560,364	(27,331,324)	35,229,040
Equity Income Trust	1,238,923,626	440,837,059	(10,757,741)	430,079,318
Financial Industries Trust	135,411,603	36,216,335	(1,090,566)	35,125,769
Fundamental All Cap Core Trust	1,343,929,780	1,195,214,672	(10,981,885)	1,184,232,787
Fundamental Large Cap Value Trust	568,754,114	244,951,301	(3,320,653)	241,630,648
Global Equity Trust	284,939,544	72,175,771	(3,094,134)	69,081,637
Health Sciences Trust	212,316,290	131,712,913	(5,455,299)	126,257,614
International Equity Index Trust	633,331,863	365,780,164	(65,284,851)	300,495,313
International Small Company Trust	118,122,959	32,408,965	(21,244,514)	11,164,451

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Portfolio	Aggregate cost	Unrealized appreciation	Unrealized (depreciation)	Net unrealized appreciation/ (depreciation)
Lifestyle Balanced Portfolio	$1,017,887,314	$183,022,104	—	$183,022,104
Lifestyle Conservative Portfolio	218,925,877	15,956,425	—	15,956,425
Lifestyle Growth Portfolio	5,141,999,413	1,298,890,780	—	1,298,890,780
Lifestyle Moderate Portfolio	320,740,657	44,424,145	—	44,424,145
Mid Cap Index Trust	1,079,536,023	419,340,267	$(35,519,741)	383,820,526
Mid Cap Stock Trust	755,046,644	262,235,394	(13,427,069)	248,808,325
Mid Value Trust	545,653,852	141,684,723	(14,590,237)	127,094,486
Real Estate Securities Trust	305,736,366	66,518,379	(166,289)	66,352,090
Science & Technology Trust	931,472,222	261,602,239	(11,491,605)	250,110,634
Small Cap Index Trust	501,310,953	245,587,323	(31,322,681)	214,264,642
Small Cap Opportunities Trust	123,017,936	51,829,249	(7,974,769)	43,854,480
Small Cap Stock Trust	386,449,334	79,588,688	(16,382,184)	63,206,504
Small Cap Value Trust	448,964,497	122,405,554	(9,588,994)	112,816,560
Small Company Value Trust	121,429,561	55,182,748	(2,205,206)	52,977,542
Strategic Equity Allocation Trust	4,882,912,373	4,607,137,565	(200,917,828)	4,406,219,737
Total Stock Market Index Trust	375,417,123	563,259,720	(21,360,997)	541,898,723

Distributions paid by the portfolios with respect to each class of shares are calculated in the same manner, at the same time and in the same amount, except for the effect of class level expenses that may be applied differently to each class.

Such distributions, on a tax basis, are determined in conformity with income tax regulations, which may differ from US GAAP. Distributions in excess of tax basis earnings and profits, if any, are reported in the portfolios' financial statements as a return of capital. The final determination of tax characteristics of the portfolio's distribution will occur at the end of the year and will subsequently be reported to shareholders. Short-term gains from underlying funds are treated as ordinary income for tax purposes.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Temporary book-tax differences, if any, will reverse in a subsequent period. Book-tax differences are primarily attributable to foreign currency transactions, net operating losses, derivative transactions, partnerships, amortization and accretion on debt securities, wash sale loss deferrals, litigation proceeds and investments in passive foreign investment companies.

3. Derivative instruments

The portfolios may invest in derivatives in order to meet their investment objective. Derivatives include a variety of different instruments that may be traded in the over-the-counter (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.

Derivatives which are typically traded through the OTC market are regulated by the Commodity Futures Trading Commission (the CFTC). Derivative counterparty risk is managed through an ongoing evaluation of the creditworthiness of all potential counterparties and, if applicable, designated clearing organizations. The portfolios attempt to reduce their exposure to counterparty risk for derivatives traded in the OTC market, whenever possible, by entering into an International Swaps and Derivatives Association (ISDA) Master Agreement with each of their OTC counterparties. The ISDA gives each party to the agreement the right to terminate all transactions traded under the agreement if there is certain deterioration in the credit quality or contractual default of the other party, as defined in the ISDA. Upon an event of default or a termination of the ISDA, the non-defaulting party has the right to close out all transactions and to net amounts owed.

As defined by the ISDA, the portfolios may have collateral agreements with certain counterparties to mitigate counterparty risk on OTC derivatives. Subject to established minimum levels, collateral for OTC transactions is generally determined based on the net aggregate unrealized gain or loss on contracts with a particular counterparty. Collateral pledged to the portfolios, if any, are held in a segregated account by a third-party agent or held by the custodian bank for the benefit of the portfolios and can be in the form of cash or debt securities issued by the U.S. government or related agencies; collateral posted by the portfolios, if any, for OTC transactions is held in a segregated account at the portfolios' custodian and is noted in the accompanying portfolio of investments, or if cash is posted, on the Statements of assets and liabilities. The portfolios' risk of loss due to counterparty risk is equal to the asset value of outstanding contracts offset by collateral received.

Certain derivatives are traded or cleared on an exchange or central clearinghouse. Exchange-traded or centrally-cleared transactions generally present less counterparty risk to a portfolio than OTC transactions. The exchange or clearinghouse stands between the portfolios and the broker to the contract and therefore, credit risk is generally limited to the failure of the exchange or clearinghouse and the clearing member.

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. Futures are traded on an exchange and cleared through a central clearinghouse. 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 and potential losses in excess of the amounts recognized on the Statements of assets and liabilities. Use of long futures contracts subjects the portfolios to the

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risk of loss up to the notional value of the futures contracts. Use of short futures contracts subjects the portfolios to unlimited risk of loss.

Upon entering into a futures contract, the portfolio is required to deposit initial margin with the broker in the form of cash or securities. The amount of required margin is set by the broker and is generally based on a percentage of the contract value. The margin deposit must then be maintained at the established level over the life of the contract. Cash that has been pledged by a portfolio is detailed in the Statements of assets and liabilities as Collateral held at broker for futures contracts. Securities pledged by the portfolios, if any, are identified in the Portfolios of investments. Subsequent payments, referred to as variation margin, are made or received by a portfolio periodically and are based on changes in the market value of open futures contracts. Futures contracts are marked-to-market daily and unrealized gain or loss is recorded by the portfolio. Receivable/Payable for futures variation margin is included in the Statements of assets and liabilities. When the contract is closed, a portfolio records a realized gain or loss 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.

The following table details how the portfolios used futures contracts during the six months ended June 30, 2021. In addition, the table summarizes the range of notional contract amounts held by the portfolios, as measured at each quarter end:

Portfolio	Reason	USD Notional range
500 Index Trust	To manage against changes in certain securities markets and gain exposure to certain securities markets.	$201.3 million to $246.2 million
Emerging Markets Value Trust	To gain exposure to certain securities markets.	$1.5 million to $2.1 million
International Equity Index Trust	To gain exposure to certain securities markets.	$18.5 million to $25.8 million
International Small Company Trust	To gain exposure to certain securities markets.	$767,000 to $959,000
Mid Cap Index Trust	To manage against changes in certain securities markets and gain exposure to certain securities markets.	$20.7 million to $82.4 million
Small Cap Index Trust	To manage against changes in certain securities markets and gain exposure to certain securities markets.	$20.2 million to $47.9 million
Strategic Equity Allocation Trust	To manage against changes in certain securities markets and gain exposure to certain securities markets.	$289.8 million to $461.3 million
Total Stock Market Index Trust	To manage against changes in certain securities markets and gain exposure to certain securities markets.	$12.7 million to $31.9 million

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. Forwards are typically traded OTC. 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 favor the portfolios thereby reducing the portfolios' total return, and the potential for losses in excess of the amounts recognized on the Statements of assets and liabilities.

The market value of a forward foreign currency contract fluctuates with changes in foreign currency exchange rates. Forward foreign currency contracts are marked-to-market daily and the change in value is recorded by the portfolio as an unrealized gain or loss. Realized gains or losses, equal to the difference between the value of the contract at the time it was opened and the value at the time it was closed, are recorded upon delivery or receipt of the currency or settlement with the counterparty.

The following table details how the portfolios used forward foreign currency contracts during the six months ended June 30, 2021. In addition, the table summarizes the range of notional contract amounts held by the portfolios, as measured at each quarter end:

Portfolio	Reason	USD Notional range
Financial Industries Trust	To manage against changes in foreign currency exchange rates.	Up to $26.6 million
Global Equity Trust	To manage against changes in foreign currency exchange rates.	$21.2 million to $22.4 million

Options. There are two types of options, put options and call options. Options are traded either OTC or on an exchange. A call option gives the purchaser of the option the right to buy (and the seller the obligation to sell) the underlying instrument at the exercise price. A put option gives the purchaser of the option the right to sell (and the writer the obligation to buy) the underlying instrument at the exercise price. Writing puts and buying calls may increase the portfolios' exposure to changes in the value of the underlying instrument. Buying puts and writing calls may decrease the portfolios' exposure to such changes. Risks related to the use of options include the loss of premiums, possible illiquidity of the options markets, trading restrictions imposed by an exchange and movements in underlying security values, and for written options, potential losses in excess of the amounts recognized on the Statements of assets and liabilities. In addition, OTC options are subject to the risks of all OTC derivatives contracts.

When a portfolio purchases an option, the premium paid is included in the Portfolio of investments and subsequently “marked-to-market” to reflect current market value. If the purchased option expires, a portfolio realizes a loss equal to the cost of the option. If a portfolio exercises a call option, the cost of the securities acquired by exercising the call is increased by the premium paid to buy the call. If a portfolio exercises a put option, it realizes a gain or loss from the sale of the underlying security and the proceeds from such sale are decreased by the premium paid. If a portfolio enters into a closing sale transaction, it realizes a gain or loss, depending on whether proceeds from the closing sale are greater or less than the original cost. When a portfolio writes an option, the premium received is included as a liability and subsequently “marked-to-market” to reflect the current market value of the option written. Premiums received from writing options that expire unexercised are recorded as realized gains. Premiums received from writing options which are exercised or are closed are added to or offset against the proceeds or amount paid on the transaction to determine the realized gain or loss. If a put option on a security is exercised, the premium received reduces the cost basis of the securities purchased by a portfolio.

The following table details how the portfolios used written options contracts during the six months ended June 30, 2021. In addition, the table summarizes the range of market value amounts held by the portfolios, as measured at each quarter end:

Portfolio	Reason	Market value range
Capital Appreciation Value Trust	To generate potential income from options premiums.	$4.2 million to $6.1 million

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Fair value of derivative instruments by risk category

The table below summarizes the fair value of derivatives held by the portfolios at June 30, 2021 by risk category:

Portfolio	Risk	Statements of assets and liabilities location	Financial instruments location	Assets derivatives fair value	Liabilities derivatives fair value
500 Index Trust	Equity	Receivable/payable for futures variation margin¹	Futures	$2,795,411	—
				$2,795,411	—
Capital Appreciation Value Trust	Equity	Written options, at value	Written options	—	$(6,141,041)
				—	$(6,141,041)
Emerging Markets Value Trust	Equity	Receivable/payable for futures variation margin¹	Futures	—	$(9,468)
				—	$(9,468)
Global Equity Trust	Currency	Unrealized appreciation (depreciation) on forward foreign currency contracts	Forward foreign currency contracts	$280,865	$(319,180)
				$280,865	$(319,180)
International Equity Index Trust	Equity	Receivable/payable for futures variation margin¹	Futures	—	$(154,447)
				—	$(154,447)
International Small Company Trust	Equity	Receivable/payable for futures variation margin¹	Futures	—	$(20,387)
				—	$(20,387)
Mid Cap Index Trust	Equity	Receivable/payable for futures variation margin¹	Futures	—	$(977,070)
				—	$(977,070)
Small Cap Index Trust	Equity	Receivable/payable for futures variation margin¹	Futures	$5,224	—
				$5,224	—
Strategic Equity Allocation Trust	Equity	Receivable/payable for futures variation margin¹	Futures	$4,639,961	$(3,963,750)
				$4,639,961	$(3,963,750)
Total Stock Market Index Trust	Equity	Receivable/payable for futures variation margin¹	Futures	$356,305	—
				$356,305	—


¹	Reflects cumulative appreciation/depreciation on open futures as disclosed in the Derivatives section of the Portfolios of investments. Only the period end variation margin receivable/payable is separately reported on the Statements of assets and liabilities.

For financial reporting purposes, the portfolios do not offset OTC derivative assets or liabilities that are subject to master netting arrangements, as defined by the ISDAs, in the Statements of assets and liabilities. In the event of default by the counterparty or a termination of the agreement, the ISDA allows an offset of amounts across the various transactions between the portfolio and the applicable counterparty.

Effect of derivative instruments on the Statements of operations

The table below summarizes the net realized gain (loss) included in the net increase (decrease) in net assets from operations, classified by derivative instrument and risk category, for the six months ended June 30, 2021:

		Statements of operations location - Net realized gain (loss) on:
Portfolio	Risk	Futures contracts	Forward foreign currency contracts	Written options	Total
500 Index Trust	Equity	$33,576,833	—	—	$33,576,833
Capital Appreciation Value Trust	Equity	—	—	$1,488,551	$1,488,551
Emerging Markets Value Trust	Equity	$41,438	—	—	$41,438
Financial Industries Trust	Currency	—	$(625,234)	—	$(625,234)
Global Equity Trust	Currency	—	$(252,021)	—	$(252,021)
International Equity Index Trust	Equity	$2,234,455	—	—	$2,234,455
International Small Company Trust	Equity	$120,747	—	—	$120,747
Mid Cap Index Trust	Equity	$7,814,383	—	—	$7,814,383
Small Cap Index Trust	Equity	$3,060,469	—	—	$3,060,469
Strategic Equity Allocation Trust	Equity	$56,772,531	—	—	$56,772,531
Total Stock Market Index Trust	Equity	$3,366,758	—	—	$3,366,758

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The table below summarizes the net change in unrealized appreciation (depreciation) included in the net increase (decrease) in net assets from operations, classified by derivative instrument and risk category, for the six months ended June 30, 2021:

		Statements of operations location - Change in net unrealized appreciation (depreciation) of:
Portfolio	Risk	Futures contracts	Forward foreign currency contracts	Written options	Total
500 Index Trust	Equity	$(2,455,966)	—	—	$(2,455,966)
Capital Appreciation Value Trust	Equity	—	—	$241,853	$241,853
Emerging Markets Value Trust	Equity	$(50,998)	—	—	$(50,998)
Financial Industries Trust	Currency	—	$656,480	—	$656,480
Global Equity Trust	Currency	—	$451,011	—	$451,011
International Equity Index Trust	Equity	$(766,735)	—	—	$(766,735)
International Small Company Trust	Equity	$(29,902)	—	—	$(29,902)
Mid Cap Index Trust	Equity	$(1,396,824)	—	—	$(1,396,824)
Small Cap Index Trust	Equity	$(498,550)	—	—	$(498,550)
Strategic Equity Allocation Trust	Equity	$(6,262,112)	—	—	$(6,262,112)
Total Stock Market Index Trust	Equity	$82,404	—	—	$82,404

4. Guarantees and indemnifications

Under the Trust's organizational documents, its Officers and Trustees are indemnified against certain liabilities arising out of the performance of their duties to the Trust, including the portfolios. Additionally, in the normal course of business, the Trust enters into contracts with service providers that contain general indemnification clauses. The Trust's maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Trust that have not yet occurred. The risk of material loss from such claims is considered remote.

5. Fees and transactions with affiliates

John Hancock Variable Trust Advisers LLC (the Advisor) serves as investment advisor for the portfolios. John Hancock Distributors, LLC (the Distributor), an affiliate of the Advisor, serves as principal underwriter of the portfolios. The Advisor and the Distributor are indirect, principally owned subsidiaries of Manulife Financial Corporation.

Management fee. Under an investment management agreement, the portfolios, with the exception of the JHVIT Feeder Funds, pay a daily management fee to the Advisor based on the net assets of the respective portfolio or aggregate net assets, which include the net assets of the respective portfolio and the net assets of a similar portfolio of John Hancock Funds II (JHF II) unless otherwise noted below. JHF II portfolios are advised by John Hancock Investment Management LLC, an affiliate of the Advisor, and are distributed by an affiliate of the Advisor, John Hancock Investment Management Distributors LLC. The annual rate for each portfolio is as follows:

• 500 Index Trust — a) 0.470% of the first $500 million of average net assets; and b) 0.460% of the excess over $500 million of average net assets.

• Blue Chip Growth Trust — a) 0.825% of the first $500 million of aggregate net assets; b) 0.800% of the next $500 million of aggregate net assets; c) 0.750% of the next $2 billion of aggregate net assets; and d) 0.725% of the excess over $3 billion of aggregate net assets. When aggregate net assets exceed $1 billion on any day, the annual rate of advisory fee for that day is 0.750% on the first $1 billion of aggregate net assets. Aggregate net assets include net assets of the portfolio, JHF II Blue Chip Growth Fund and Manulife North American Equity Fund Series.

• Capital Appreciation Trust — a) 0.800% of the first $500 million of aggregate net assets; b) 0.700% of the next $500 million of aggregate net assets; and c) 0.670% of the excess over $1 billion of aggregate net assets.

• Capital Appreciation Value Trust — If aggregate net assets are less than $500 million, then the following fee schedule shall apply: a) 0.950% of the first $250 million of aggregate net assets; and b) 0.850% of the excess over $250 million of aggregate net assets. If aggregate net assets equal or exceed $500 million but are less than $2 billion, then the following fee schedule shall apply: a) 0.850% of the first $1 billion of aggregate net assets; and b) 0.800% of the excess over $1 billion of aggregate net assets. If aggregate net assets equal or exceed $2 billion but are less than $3 billion, then the following fee schedule shall apply: a) 0.850% of the first $500 million of aggregate net assets; and b) 0.800% of the excess over $500 million of aggregate net assets. If aggregate net assets equals or exceed $3 billion, then the management fee to be paid is 0.800% of aggregate net assets.

• Disciplined Value International Trust — If aggregate net assets are less than $300 million, then the management fee to be paid is 0.825% of aggregate net assets. If aggregate net assets equal or exceed $300 million but are less than $2.5 billion, then the management fee to be paid is 0.775% of aggregate net assets. If aggregate net assets exceed $2.5 billion, then the following fee schedule shall apply: a) 0.775% of the first $2.5 billion of aggregate net assets; and b) 0.750% of the next $500 million; and c) 0.725% of the excess over $3 billion of aggregate net assets. Aggregate net assets are the net assets of the portfolio and Disciplined Value International Fund, a series of John Hancock Investment Trust.

• Emerging Markets Value Trust — a)0.900% of the first $100 million of aggregate net assets; and b) 0.850% of the excess over $100 million of aggregate net assets. Prior to March 1, 2021, the annual rates were a) 1.000% of the first $100 million of aggregate net assets; and b) 0.950% of the excess over $100 million of aggregate net assets.

• Equity Income Trust — a) 0.800% of the first $100 million of aggregate net assets; b) 0.775% of the next $100 million of aggregate net assets; c) 0.750% of the next $300 million of aggregate net assets; d) 0.725% of the next $500 million of aggregate net assets; e) 0.725% of the next $500 million of aggregate net assets; f) 0.700% of the next $500 million of aggregate net assets; g) 0.695% of the next $1 billion of aggregate net assets; h) 0.690% of the next $1 billion of aggregate net assets; i) 0.680% of the next $1.5 billion of aggregate net assets; j) 0.675% of the next $2 billion of aggregate net assets; and k) 0.670% of the excess over $7.5 billion of aggregate net assets. When aggregate net assets exceed $200 million on any day, the annual rate of advisory fee for that day is 0.775% on the first $200 million of aggregate net assets. When aggregate net assets exceed $500 million on any day, the annual rate of advisory fee for that day is 0.750% on the first $500 million of aggregate net assets and 0.725% on aggregate net assets over $500 million. When aggregate net assets exceed $1 billion on any day, the annual rate of advisory fee for that day is 0.725% on the first $1 billion of aggregate net assets.

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When aggregate net assets exceed $1.5 billion on any day, the annual rate of advisory fee for that day is 0.700% on the first $1.5 billion of aggregate net assets. When aggregate net assets exceed $2 billion on any day, the annual rate of advisory fee for that day is 0.695% on the first $2 billion of aggregate net assets. When aggregate net assets exceed $3 billion on any day, the annual rate of advisory fee for that day is 0.690% on the first $3 billion of aggregate net assets. When aggregate net assets exceed $4 billion on any day, the annual rate of advisory fee for that day is 0.680% on the first $4 billion of aggregate net assets. When aggregate net assets exceed $5.5 billion on any day, the annual rate of advisory fee for that day is 0.675% on the first $5.5 billion of aggregate net assets. When aggregate net assets exceed $7.5 billion on any day, the annual rate of advisory fee for that day is 0.670% on the first $7.5 billion of aggregate net assets. Aggregate net assets are the net assets of the portfolio, JHF II Equity Income Fund and Manulife US Large Cap Value Equity Fund (Canada).

• Financial Industries Trust — a) 0.800% of the first $250 million of aggregate net assets; b) 0.775% of aggregate net assets between $250 million and $500 million; c) 0.750% of aggregate net assets between $500 million and $1 billion; and d) 0.725% of the excess over $1 billion of aggregate net assets.

• Fundamental All Cap Core Trust — a) 0.675% of the first $2.5 billion of aggregate net assets; and b) 0.650% of the excess over $2.5 billion of aggregate net assets.

• Fundamental Large Cap Value Trust — a) 0.700% of the first $500 million of average net assets; b) 0.650% of average net assets between $500 million and $1 billion; and c) 0.600% of the excess over $1 billion of average net assets.

• Global Equity Trust — a) 0.800% of the first $1 billion of aggregate net assets; and b) 0.790% of the excess over $1 billion of aggregate net assets.

• Health Sciences Trust — a) 1.050% of the first $500 million of aggregate net assets; b) 1.000% of the next $250 million; and c) 0.950% of the excess over $750 million of aggregate net assets. When aggregate net assets exceed $750 million, the advisory fee is 0.950% on all net assets.

• International Equity Index Trust — a) 0.550% of the first $100 million of average net assets; b) 0.530% of the next $150 million of average net assets; c) 0.520% of the next $250 million of average net assets; and d) 0.510% of the excess over $500 million of average net assets.

• International Small Company Trust — 0.850% of aggregate net assets. Prior to March 1, 2021, 0.950% of aggregate net assets.

• Lifestyle Portfolios — The advisory fee has two components: a) a fee on net assets invested in affiliated funds (Affiliated funds assets) excluding 500 Index Trust, International Equity Index Trust and Total Bond Market Trust, and b) a fee on net assets not invested in affiliated funds (Other assets). The management fee paid on Affiliated fund assets is: a) 0.050% of the first $7.5 billion of aggregate net assets; and b) 0.040% of the excess over $7.5 billion in aggregate net assets. The advisory fee paid on Other assets is as follows: a) 0.500% of the first $7.5 billion of aggregate net assets; and b) 0.490% of the excess over $7.5 billion in aggregate net assets.

• Mid Cap Index Trust, Small Cap Index Trust and Total Stock Market Index Trust — a) 0.490% of the first $250 million of average net assets; b) 0.480% of average net assets between $250 million and $500 million; and c) 0.460% of the excess over $500 million of average net assets.

• Mid Cap Stock Trust — a) 0.875% of the first $200 million of aggregate net assets; b) 0.850% of aggregate net assets between $200 million and $500 million; and c) 0.825% of the excess over $500 million of aggregate net assets.

• Mid Value Trust — a) 1.050% of the first $20 million of aggregate net assets; and b) 0.950% of the excess over $20 million of aggregate net assets. When aggregate net assets exceed $50 million on any day, the management fee for that day is 0.950% of all assets of the portfolio.

• Real Estate Securities Trust — a) 0.700% of the first $1.5 billion of aggregate net assets; and b) 0.680% of the excess over $1.5 billion of aggregate net assets.

• Science & Technology Trust — a) 1.050% of the first $500 million of average net assets; and b) 1.000% of the excess over $500 million of average net assets.

• Small Cap Opportunities Trust — a) 1.000% of the first $500 million of aggregate net assets; b) 0.950% of aggregate net assets between $500 million and $1 billion; c) 0.900% of aggregate net assets between $1 billion and $2 billion; and d) 0.850% of the excess over $2 billion of aggregate net assets. Aggregate net assets are the net assets of the portfolio and the JHF II New Opportunities Fund.

• Small Cap Stock Trust — a) 1.050% of the first $50 million of aggregate net assets; and b) 1.000% of the excess over $50 million of aggregate net assets.

• Small Cap Value Trust — a) 0.950% of the first $250 million of aggregate net assets; b) 0.940% of the next $500 million of aggregate net assets; c) 0.930% of the next $500 million of aggregate net assets; and d) 0.920% of the excess over $1.25 billion of aggregate net assets.

• Small Company Value Trust — a) 1.050% of the first $500 million of average net assets; and b) 1.000% of the excess over $500 million of average net assets.

• Strategic Equity Allocation Trust — a) 0.675% of the first $2.5 billion of aggregate net assets; b) 0.650% of aggregate net assets between $2.5 billion and $7.5 billion; c) 0.625% of aggregate net assets between $7.5 billion and $10 billion; d) 0.600% of aggregate net assets between $10 billion and $15 billion; e) 0.595% of aggregate net assets between $15 billion and $25 billion; and f) 0.590% of the excess over $25 billion of aggregate net assets. Aggregate net assets are the net assets of the portfolio, JHF II Strategic Equity Allocation Fund, JHF II U.S. Sector Rotation Fund, and JHF II International Strategic Equity Allocation Fund.

The organizations described below act as the subadvisors to the Trust and its portfolios pursuant to Subadvisory Agreements with the Advisor. Portfolio management is allocated among the following managers:

Portfolio	Subadvisor(s)
Science & Technology Trust	Allianz Global Investors U.S. LLC and T. Rowe Price Associates, Inc.
Disciplined Value International Trust	Boston Partners Global Investors, Inc.
Emerging Markets Value Trust International Small Company Trust	Dimensional Fund Advisors LP
Small Cap Opportunities Trust	Dimensional Fund Advisors LP and GW&K Investment Management, LLC

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Portfolio	Subadvisor(s)
Capital Appreciation Trust	Jennison Associates LLC
Financial Industries Trust Fundamental All Cap Core Trust Fundamental Large Cap Value Trust Global Equity Trust Lifestyle Balanced Portfolio Lifestyle Conservative Portfolio Lifestyle Growth Portfolio Lifestyle Moderate Portfolio Strategic Equity Allocation Trust	Manulife Investment Management (US) LLC¹
500 Index Trust Mid Cap Index Trust Small Cap Index Trust Total Stock Market Index Trust	Manulife Investment Management (North America) Limited¹
International Equity Index Trust	SSGA Funds Management, Inc.
Blue Chip Growth Trust Capital Appreciation Value Trust Equity Income Trust Health Sciences Trust Mid Value Trust Small Company Value Trust	T. Rowe Price Associates, Inc.
Mid Cap Stock Trust Real Estate Securities Trust Small Cap Stock Trust Small Cap Value Trust	Wellington Management Company LLP

¹ An affiliate of the Advisor.

The portfolios are not responsible for payment of the subadvisory fees.

Expense reimbursements. The Advisor voluntarily agreed to waive a portion of its management fee if certain expenses of the respective portfolios exceed the percentage of average net assets as detailed below. Expenses excluded from this waiver are taxes, portfolio brokerage commissions, interest expense, litigation and indemnification expenses and other extraordinary expenses not incurred in the ordinary course of the portfolios' business, advisory fees, Rule 12b-1 fees, underlying fund expenses and in the case of a feeder fund, the expenses of the master fund, and short dividends. This expense reduction will continue in effect until terminated by the Advisor.

Portfolio	Expense limitation as a percentage of average net assets
American Asset Allocation Trust	0.10%
American Global Growth Trust	0.10%
American Growth Trust	0.10%
American Growth-Income Trust	0.10%
American International Trust	0.10%
Blue Chip Growth Trust	0.20%
Capital Appreciation Trust	0.20%
Capital Appreciation Value Trust	0.20%
Disciplined Value International Trust	0.25%
Emerging Markets Value Trust	0.25%
Equity Income Trust	0.20%
Financial Industries Trust	0.20%
Fundamental All Cap Core Trust	0.20%
Fundamental Large Cap Value Trust	0.20%
Global Equity Trust	0.25%

Portfolio	Expense limitation as a percentage of average net assets
Health Sciences Trust	0.20%
International Small Company Trust	0.25%
Mid Cap Index Trust	0.08%
Mid Cap Stock Trust	0.20%
Mid Value Trust	0.20%
Real Estate Securities Trust	0.20%
Science & Technology Trust	0.20%
Small Cap Index Trust	0.08%
Small Cap Opportunities Trust	0.20%
Small Cap Stock Trust	0.20%
Small Cap Value Trust	0.20%
Small Company Value Trust	0.20%
Strategic Equity Allocation Trust	0.20%
Total Stock Market Index Trust	0.08%

The Advisor has contractually agreed to waive a portion of its management fee and/or reimburse expenses for certain portfolios of the John Hancock group of funds complex, including certain of the portfolios presented in this report (the participating portfolios). This waiver is based upon aggregate net assets of all the participating portfolios. The amount of the reimbursement is calculated daily and allocated among all the participating portfolios in proportion to the daily net assets of each portfolio. During the six months ended June 30, 2021, this waiver amounted to 0.01% of the portfolios’ average net assets. This agreement expires on July 31, 2023, unless renewed by mutual agreement of the portfolios and the Advisor based upon a determination that this is appropriate under the circumstances at that time.

The Advisor has contractually agreed to limit operating expenses of 500 Index Trust and International Equity Index Trust at 0.25% and 0.34%, respectively. These limits exclude Rule 12b-1 fees, taxes, short dividends, interest expense, acquired fund fees, litigation and indemnification expenses, portfolio brokerage commissions and other extraordinary expenses not incurred in the ordinary course of the portfolios’ business. The Advisor’s obligation to provide the expense cap will remain in effect until April 30, 2022, unless renewed by mutual agreement of the portfolios and the Advisor based upon a determination that this is appropriate under the circumstances at the time.

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The Advisor has contractually agreed to reimburse expenses for the Lifestyle Portfolios so that certain other expenses do not exceed 0.04% of average net assets of the Lifestyle Portfolios. This waiver includes all expenses except taxes, brokerage commissions, interest expense, litigation and indemnification expenses and other extraordinary expenses not incurred in the ordinary course of the portfolios’ business, management fees, Rule 12b-1 fees, underlying fund expenses and short dividends. This expense reimbursement will remain in effect until April 30, 2022, and may terminate at any time thereafter.

The Advisor has contractually agreed to waive its management fee for Lifestyle Growth Portfolio by 0.005% of the portfolio's average daily net assets. The expense limitation agreement expires on April 30, 2022, unless renewed by mutual agreement of the portfolios and the Advisor based upon a determination that this is appropriate under the circumstances at that time. Prior to May 1, 2021, this waiver was voluntary.

The Advisor has contractually agreed to waive its management fee for Small Cap Opportunities Trust so that the amount retained by the Advisor after the payment of subadvisory fees does not exceed 0.45% of the portfolio’s average daily net assets. The expense reimbursements will remain in effect until April 30, 2022, unless renewed by mutual agreement of the portfolio and the Advisor based upon a determination that this is appropriate under the circumstances at that time and may be terminated at any time thereafter.

The Advisor has contractually agreed to waive its management fee for Mid Cap Index Trust and Small Cap Index Trust by 0.10% and 0.05% of the portfolios’ average net assets, respectively. The expense limitation agreements expire on April 30, 2022, unless renewed by mutual agreement of the portfolios and the Advisor based upon a determination that this is appropriate under the circumstances at that time.

The Advisor has voluntarily agreed to reduce its management fee for portfolios that are subadvised by T. Rowe Price Associates, Inc. by the amount that the subadvisory fee is reduced pursuant to the subadvisory agreement with T. Rowe Price. This waiver impacts Blue Chip Growth Trust, Capital Appreciation Value Trust, Equity Income Trust, Health Sciences Trust, Mid Value Trust, Science & Technology Trust (the portion of the portfolios’ net assets managed by T. Rowe Price) and Small Company Value Trust. This waiver may be terminated at any time by the Advisor.

The Advisor has voluntarily agreed to waive its management fee for International Small Company Trust and Strategic Equity Allocation Trust so that the amount retained by the Advisor after payment of the sub-advisory fee does not exceed 0.45% of the portfolio’s average net assets. This voluntary management fee waiver may be terminated at any time by the Advisor upon notice to the Trust.

The Advisor has voluntarily agreed to waive its management fee for Lifestyle Balanced Portfolio, Lifestyle Conservative Portfolio, and Lifestyle Moderate Portfolio (after giving effect to asset-based breakpoints) by 0.005% of the portfolios’ average daily net assets. This waiver may be terminated at any time by the Advisor upon notice to the Trust.

The Advisor has voluntarily agreed to waive its management fee for each Lifestyle Portfolio so that the aggregate advisory fee retained by the Advisor with respect to both the Lifestyle Portfolio and its underlying investments (after payment of subadvisory fees) does not exceed 0.50% of the Lifestyle Portfolios’ first $7.5 billion of average net assets and 0.49% of the Lifestyle Portfolios’ average net assets in excess of $7.5 billion. The Advisor may terminate this voluntary waiver at any time.

The Advisor has voluntarily agreed to waive its management fee by 0.07% of the portfolio’s average daily net assets of Total Stock Market Index Trust. This waiver may be terminated at any time by the Advisor.

The Advisor has voluntarily agreed to waive its management fee on Science & Technology Trust so that the amount retained by the Advisor after payment of the subadvisory fees for the fund does not exceed 0.45% of the funds’ average net assets. This voluntary expense reimbursement may be terminated at any time by the Advisor on notice to the Trust.

The Advisor has voluntarily agreed to reduce the advisory fee that would be payable by Fundamental Large Cap Value Trust (after giving effect to asset-based breakpoints) by 0.003% of the Fund’s average daily net assets. This voluntary advisory fee waiver may be terminated at any time by the Advisor upon notice to the Trust.

For the six months ended June 30, 2021, the waivers under these agreements amounted to:

	Expense reimbursement by class
Portfolio	Series I	Series II	Series III	Series NAV	Total
500 Index Trust	$5,562,727	$102,424	—	$3,093,169	$8,758,320
American Asset Allocation Trust	15,209	41,511	$5,548	—	62,268
American Global Growth Trust	1,801	7,635	1,422	—	10,858
American Growth Trust	9,822	31,968	4,531	—	46,321
American Growth-Income Trust	13,484	23,310	9,253	—	46,047
American International Trust	7,340	13,667	1,641	—	22,648
Blue Chip Growth Trust	66,336	25,612	—	315,976	407,924
Capital Appreciation Trust	11,500	3,736	—	16,591	31,827
Capital Appreciation Value Trust	1,668	60,459	—	35,507	97,634
Disciplined Value International Trust	3,520	2,091	—	8,258	13,869
Emerging Markets Value Trust	291	1,521	—	9,205	11,017
Equity Income Trust	36,655	19,413	—	186,736	242,804
Financial Industries Trust	4,815	796	—	1,256	6,867
Fundamental All Cap Core Trust	5,362	2,379	—	94,847	102,588
Fundamental Large Cap Value Trust	25,564	10,135	—	8,224	43,923
Global Equity Trust	11,807	1,218	—	1,997	15,022
Health Sciences Trust	21,330	22,004	—	44,901	88,235
International Equity Index Trust	478,518	30,394	—	634,011	1,142,923
International Small Company Trust	1,181	676	—	3,547	5,404
Lifestyle Balanced Portfolio	1,010	24,545	—	3,547	29,102

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	Expense reimbursement by class
Portfolio	Series I	Series II	Series III	Series NAV	Total
Lifestyle Conservative Portfolio	$1,539	$18,287	—	$862	$20,688
Lifestyle Growth Portfolio	6,017	140,859	—	12,703	159,579
Lifestyle Moderate Portfolio	488	9,602	—	1,227	11,317
Mid Cap Index Trust	590,023	39,681	—	144,769	774,473
Mid Cap Stock Trust	10,172	5,097	—	27,446	42,715
Mid Value Trust	65,284	14,607	—	98,556	178,447
Real Estate Securities Trust	2,837	1,502	—	10,435	14,774
Science & Technology Trust	248,985	21,807	—	40,283	311,075
Small Cap Index Trust	144,237	11,510	—	47,986	203,733
Small Cap Opportunities Trust	99,092	38,356	—	37,254	174,702
Small Cap Stock Trust	6,032	1,817	—	11,919	19,768
Small Cap Value Trust	8,149	1,178	—	14,770	24,097
Small Company Value Trust	18,746	14,666	—	20,383	53,795
Strategic Equity Allocation Trust	—	—	—	6,142,277	6,142,277
Total Stock Market Index Trust	229,866	18,979	—	89,853	338,698

Expenses waived or reimbursed in the current fiscal period are not subject to recapture in future fiscal periods.

The investment management fees, including the impact of the waivers and reimbursements as described above, incurred for the six months ended June 30, 2021, were equivalent to a net annual effective rate of the portfolios' average daily net assets as follows:

Portfolio	Net Annual Effective Rate
500 Index Trust	0.22%
American Asset Allocation Trust	0.00%*
American Global Growth Trust	0.00%*
American Growth Trust	0.00%*
American Growth-Income Trust	0.00%*
American International Trust	0.00%*
Blue Chip Growth Trust	0.70%
Capital Appreciation Trust	0.69%
Capital Appreciation Value Trust	0.78%
Disciplined Value International Trust	0.77%
Emerging Markets Value Trust	0.88%
Equity Income Trust	0.65%
Financial Industries Trust	0.76%
Fundamental All Cap Core Trust	0.67%
Fundamental Large Cap Value Trust	0.67%
Global Equity Trust	0.79%
Health Sciences Trust	0.90%
International Equity Index Trust	0.27%

Portfolio	Net Annual Effective Rate
International Small Company Trust	0.87%
Lifestyle Balanced Portfolio	0.04%
Lifestyle Conservative Portfolio	0.02%
Lifestyle Growth Portfolio	0.04%
Lifestyle Moderate Portfolio	0.03%
Mid Cap Index Trust	0.36%
Mid Cap Stock Trust	0.82%
Mid Value Trust	0.90%
Real Estate Securities Trust	0.69%
Science & Technology Trust	0.96%
Small Cap Index Trust	0.42%
Small Cap Opportunities Trust	0.78%
Small Cap Stock Trust	1.00%
Small Cap Value Trust	0.93%
Small Company Value Trust	0.99%
Strategic Equity Allocation Trust	0.49%
Total Stock Market Index Trust	0.40%

*	The JHVIT Feeder Funds do not directly incur investment advisory fees. For more information on these portfolios, see Note 1.

Accounting and legal services. Pursuant to a service agreement, the portfolios reimburse the Advisor for all expenses associated with providing the administrative, financial, legal, compliance, accounting and recordkeeping services to the portfolios, including the preparation of all tax returns, periodic reports to shareholders and regulatory reports, among other services. These expenses are allocated to each share class based on its relative net assets at the time the expense was incurred. These accounting and legal services fees incurred, for the six months ended June 30, 2021, amounted to an annual rate of 0.01% of the portfolios' average daily net assets.

Distribution and service plans. The portfolios have a distribution agreement with the Distributor. The portfolios have adopted distribution and service plans for certain classes as detailed below pursuant to Rule 12b-1 under the 1940 Act, to pay the Distributor for services provided as the distributor of shares of the portfolios. The portfolios may pay up to the following contractual rates of distribution and service fees under these arrangements, expressed as an annual percentage of average daily net assets for each class of the portfolios' shares.

For all portfolios, except the JHVIT Feeder Funds, Rule 12b-1 maximum fee rates are as follows:

Class	Rule 12b-1 Fee
Series I	0.15%
Series II	0.35%

Currently, only 0.05% for Series I shares and 0.25% for Series II shares are charged for Rule 12b-1 fees.

For the JHVIT Feeder Funds, Rule 12b-1 maximum fee rates are as follows:

Class	Rule 12b-1 Fee
Series I	0.60%

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Class	Rule 12b-1 Fee
Series II	0.75%
Series III	0.25%

Distribution and service fees for the six months ended June 30, 2021 were:

	Distribution and service fees by class
Portfolio	Series l	Series ll	Series lll	Total
500 Index Trust	$1,146,856	$105,564	$—	$1,252,420
American Asset Allocation Trust	1,045,213	3,572,133	158,997	4,776,343
American Global Growth Trust	123,671	656,934	40,773	821,378
American Growth Trust	674,766	2,750,860	129,985	3,555,611
American Growth-Income Trust	926,919	2,004,940	265,281	3,197,140
American International Trust	505,199	1,176,356	47,103	1,728,658
Blue Chip Growth Trust	95,896	185,200	—	281,096
Capital Appreciation Trust	66,000	107,265	—	173,265
Capital Appreciation Value Trust	1,958	356,433	—	358,391
Disciplined Value International Trust	20,176	59,960	—	80,136
Emerging Markets Value Trust	1,669	43,654	—	45,323
Equity Income Trust	61,240	162,191	—	223,431
Financial Industries Trust	27,540	22,703	—	50,243
Fundamental All Cap Core Trust	30,736	68,130	—	98,866
Fundamental Large Cap Value Trust	108,900	216,137	—	325,037
Global Equity Trust	67,679	34,909	—	102,588
Health Sciences Trust	19,606	101,180	—	120,786
International Equity Index Trust	94,778	30,096	—	124,874
International Small Company Trust	6,773	19,363	—	26,136
Lifestyle Balanced Portfolio	10,104	1,227,312	—	1,237,416
Lifestyle Conservative Portfolio	4,353	259,193	—	263,546
Lifestyle Growth Portfolio	60,160	7,043,476	—	7,103,636
Lifestyle Moderate Portfolio	3,864	379,736	—	383,600
Mid Cap Index Trust	271,358	91,227	—	362,585
Mid Cap Stock Trust	58,373	146,333	—	204,706
Mid Value Trust	59,919	67,021	—	126,940
Real Estate Securities Trust	16,247	43,007	—	59,254
Science & Technology Trust	233,705	102,300	—	336,005
Small Cap Index Trust	122,803	49,026	—	171,829
Small Cap Opportunities Trust	23,072	44,651	—	67,723
Small Cap Stock Trust	34,684	52,215	—	86,899
Small Cap Value Trust	46,674	33,661	—	80,335
Small Company Value Trust	14,745	57,697	—	72,442
Total Stock Market Index Trust	146,008	60,264	—	206,272

The Distributor voluntarily agreed to waive 0.06%, 0.08%, 0.09%, 0.07% and 0.02% of its Rule 12b-1 fee for Series II of American Asset Allocation Trust, American Global Growth Trust, American Growth Trust, American Growth-Income Trust and American International Trust, respectively.

For the six months ended June 30, 2021, the waivers under these agreements amounted to:

Portfolio	Series ll
American Asset Allocation Trust	$285,771
American Global Growth Trust	70,073
American Growth Trust	330,103
American Growth-Income Trust	187,128
American International Trust	31,369

Trustee expenses. The portfolios compensate each Trustee who is not an employee of the Advisor or its affiliates. The costs of paying Trustee compensation and expenses are allocated to each portfolio based on their net assets relative to other funds within the John Hancock group of funds complex.

Interfund lending program. Pursuant to an Exemptive Order issued by the SEC, the portfolios, along with certain other funds advised by the Advisor or its affiliates, may participate in an interfund lending program. This program provides an alternative credit facility allowing the portfolios to borrow from, or lend money to, other participating affiliated funds. At period end, no interfund loans were outstanding. Interest expense is included in Other expenses on the Statements of operations. The portfolios' activity in this program during the period for which loans were outstanding was as follows:

Portfolio	Borrower or Lender	Weighted Average Loan Balance	Days Outstanding	Weighted Average Interest Rate	Interest Income (Expense)
Small Cap Opportunities Trust	Borrower	$12,300,000	2	0.655%	$(448)

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Portfolio	Borrower or Lender	Weighted Average Loan Balance	Days Outstanding	Weighted Average Interest Rate	Interest Income (Expense)
Strategic Equity Allocation Trust	Borrower	16,000,000	1	0.660	(293)
500 Index Trust	Lender	3,400,000	1	0.660	62
Blue Chip Growth Trust	Lender	14,000,000	1	0.660	257
Capital Appreciation Trust	Lender	2,400,000	1	0.670	45
Capital Appreciation Value Trust	Lender	12,100,000	2	0.658	443
Disciplined Value International Trust	Lender	4,000,000	1	0.655	73
Emerging Markets Value Trust	Lender	1,400,000	1	0.660	26
Equity Income Trust	Lender	13,700,000	2	0.666	507
Health Sciences Trust	Lender	1,200,000	1	0.655	22
International Equity Index Trust	Lender	9,778,877	4	0.659	716
International Small Company Trust	Lender	900,000	1	0.665	17
Mid Cap Index Trust	Lender	4,100,000	1	0.660	75
Mid Cap Stock Trust	Lender	3,700,000	3	0.660	203
Mid Value Trust	Lender	1,100,000	3	0.660	61
Real Estate Securities Trust	Lender	2,800,000	1	0.660	51
Science & Technology Trust	Lender	5,320,000	2	0.667	197
Small Cap Index Trust	Lender	2,870,563	1	0.660	53
Small Cap Opportunities Trust	Lender	1,900,000	1	0.650	34
Small Cap Stock Trust	Lender	2,700,000	1	0.660	50
Small Cap Value Trust	Lender	8,000,000	1	0.660	147
Small Company Value Trust	Lender	2,650,000	2	0.587	86
Strategic Equity Allocation Trust	Lender	5,400,000	3	0.660	297
Total Stock Market Index Trust	Lender	3,681,528	1	0.660	68

6. Portfolio share transactions

Transactions in portfolios' shares for the six months ended June 30, 2021 and for the year ended December 31, 2020 were as follows:

500 Index Trust	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series I shares
Sold	3,423,500	$158,649,195	5,921,233	$218,381,029
Distributions reinvested	—	—	3,620,049	140,819,888
Repurchased	(4,448,479)	(208,361,570)	(9,756,329)	(365,725,383)
Net decrease	(1,024,979)	$(49,712,375)	(215,047)	$(6,524,466)
Series II shares
Sold	124,952	$5,785,744	278,601	$10,159,140
Distributions reinvested	—	—	63,871	2,486,486
Repurchased	(136,947)	(6,508,687)	(573,009)	(20,761,569)
Net decrease	(11,995)	$(722,943)	(230,537)	$(8,115,943)
Series NAV shares
Sold	678,255	$31,259,889	2,481,106	$89,192,287
Distributions reinvested	—	—	2,106,519	81,922,505
Repurchased	(2,104,603)	(96,623,302)	(6,996,982)	(265,504,963)
Net decrease	(1,426,348)	$(65,363,413)	(2,409,357)	$(94,390,171)
Total net decrease	(2,463,322)	$(115,798,731)	(2,854,941)	$(109,030,580)

American Asset Allocation Trust	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series I shares
Sold	527,300	$6,739,609	1,019,869	$12,392,769
Distributions reinvested	—	—	3,555,563	40,739,656
Repurchased	(729,570)	(9,492,004)	(1,692,942)	(20,650,720)
Net increase (decrease)	(202,270)	$(2,752,395)	2,882,490	$32,481,705
Series II shares
Sold	3,818	$46,585	48,549	$606,953
Distributions reinvested	—	—	10,249,020	117,374,226
Repurchased	(7,601,800)	(98,829,214)	(9,405,795)	(114,753,634)
Net increase (decrease)	(7,597,982)	$(98,782,629)	891,774	$3,227,545

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American Asset Allocation Trust, Cont'd	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series III shares
Sold	25,732	$319,857	3,781	$48,472
Distributions reinvested	—	—	1,372,797	15,804,385
Repurchased	(561,096)	(7,268,387)	(920,846)	(11,348,696)
Net increase (decrease)	(535,364)	$(6,948,530)	455,732	$4,504,161
Total net increase (decrease)	(8,335,616)	$(108,483,554)	4,229,996	$40,213,411

American Global Growth Trust	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series I shares
Sold	222,275	$4,656,932	310,211	$5,619,188
Distributions reinvested	—	—	146,182	2,575,727
Repurchased	(126,989)	(2,648,200)	(169,318)	(2,780,771)
Net increase	95,286	$2,008,732	287,075	$5,414,144
Series II shares
Sold	116,365	$2,419,979	227,622	$3,274,179
Distributions reinvested	—	—	721,701	12,658,629
Repurchased	(889,778)	(18,661,507)	(2,012,493)	(34,683,183)
Net decrease	(773,413)	$(16,241,528)	(1,063,170)	$(18,750,375)
Series III shares
Sold	475	$10,333	16,897	$235,937
Distributions reinvested	—	—	132,412	2,331,770
Repurchased	(115,579)	(2,438,196)	(341,858)	(6,017,003)
Net decrease	(115,104)	$(2,427,863)	(192,549)	$(3,449,296)
Total net decrease	(793,231)	$(16,660,659)	(968,644)	$(16,785,527)

American Growth Trust	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series I shares
Sold	444,895	$10,959,644	821,756	$15,732,978
Distributions reinvested	—	—	1,156,818	23,055,381
Repurchased	(423,122)	(10,422,686)	(1,203,164)	(22,705,775)
Net increase	21,773	$536,958	775,410	$16,082,584
Series II shares
Sold	34,720	$868,971	346,084	$5,659,635
Distributions reinvested	—	—	4,176,618	82,362,899
Repurchased	(2,906,860)	(71,212,788)	(8,441,352)	(169,764,408)
Net decrease	(2,872,140)	$(70,343,817)	(3,918,650)	$(81,741,874)
Series III shares
Sold	4,864	$117,961	1,274	$24,568
Distributions reinvested	—	—	589,786	11,683,659
Repurchased	(387,758)	(9,609,907)	(1,359,161)	(27,453,411)
Net decrease	(382,894)	$(9,491,946)	(768,101)	$(15,745,184)
Total net decrease	(3,233,261)	$(79,298,805)	(3,911,341)	$(81,404,474)

American Growth-Income Trust	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series I shares
Sold	119,528	$2,077,361	183,326	$2,819,280
Distributions reinvested	—	—	2,764,183	40,231,022
Repurchased	(937,697)	(15,790,999)	(1,756,412)	(27,399,881)
Net increase (decrease)	(818,169)	$(13,713,638)	1,191,097	$15,650,421
Series II shares
Sold	55,292	$947,055	1,974,037	$26,190,185
Distributions reinvested	—	—	4,911,020	71,054,364
Repurchased	(3,394,313)	(57,478,718)	(5,204,133)	(81,022,078)
Net increase (decrease)	(3,339,021)	$(56,531,663)	1,680,924	$16,222,471

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American Growth-Income Trust, Cont'd	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series III shares
Sold	23,265	$403,131	573,376	$7,554,893
Distributions reinvested	—	—	1,975,364	28,815,935
Repurchased	(1,225,762)	(20,938,943)	(1,812,495)	(28,414,367)
Net increase (decrease)	(1,202,497)	$(20,535,812)	736,245	$7,956,461
Total net increase (decrease)	(5,359,687)	$(90,781,113)	3,608,266	$39,829,353

American International Trust	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series I shares
Sold	318,377	$6,927,077	1,438,799	$26,075,864
Distributions reinvested	—	—	396,009	7,212,200
Repurchased	(1,018,029)	(22,309,176)	(805,159)	(14,834,306)
Net increase (decrease)	(699,652)	$(15,382,099)	1,029,649	$18,453,758
Series II shares
Sold	271,054	$5,721,691	1,542,713	$23,168,571
Distributions reinvested	—	—	769,296	13,936,196
Repurchased	(1,055,049)	(23,112,877)	(3,167,568)	(60,331,815)
Net decrease	(783,995)	$(17,391,186)	(855,559)	$(23,227,048)
Series III shares
Sold	31,993	$674,101	180,478	$2,688,570
Distributions reinvested	—	—	100,503	1,844,292
Repurchased	(115,392)	(2,518,868)	(376,456)	(7,258,610)
Net decrease	(83,399)	$(1,844,767)	(95,475)	$(2,725,748)
Total net increase (decrease)	(1,567,046)	$(34,618,052)	78,615	$(7,499,038)

Blue Chip Growth Trust	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series I shares
Sold	106,739	$4,416,567	103,392	$4,005,098
Distributions reinvested	—	—	1,276,533	48,329,550
Repurchased	(693,356)	(28,991,789)	(1,275,024)	(47,690,215)
Net increase (decrease)	(586,617)	$(24,575,222)	104,901	$4,644,433
Series II shares
Sold	14,922	$601,958	142,636	$5,254,705
Distributions reinvested	—	—	544,652	19,738,173
Repurchased	(387,709)	(15,564,740)	(816,093)	(28,963,362)
Net decrease	(372,787)	$(14,962,782)	(128,805)	$(3,970,484)
Series NAV shares
Sold	1,326,443	$55,448,020	1,689,367	$59,372,907
Distributions reinvested	—	—	5,928,792	224,760,504
Repurchased	(4,583,862)	(194,493,841)	(11,896,286)	(432,880,813)
Net decrease	(3,257,419)	$(139,045,821)	(4,278,127)	$(148,747,402)
Total net decrease	(4,216,823)	$(178,583,825)	(4,302,031)	$(148,073,453)

Capital Appreciation Trust	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series I shares
Sold	131,558	$998,675	922,678	$5,895,320
Distributions reinvested	—	—	3,527,777	24,024,161
Repurchased	(3,136,166)	(24,538,953)	(4,901,499)	(30,940,634)
Net decrease	(3,004,608)	$(23,540,278)	(451,044)	$(1,021,153)
Series II shares
Sold	403,522	$2,791,639	1,232,228	$6,883,127
Distributions reinvested	—	—	1,545,840	9,104,998
Repurchased	(1,749,032)	(11,667,485)	(3,025,254)	(16,804,159)
Net decrease	(1,345,510)	$(8,875,846)	(247,186)	$(816,034)

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Capital Appreciation Trust, Cont'd	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series NAV shares
Sold	1,631,066	$12,875,201	5,259,711	$34,080,171
Distributions reinvested	—	—	4,692,330	32,189,382
Repurchased	(3,605,369)	(27,006,002)	(12,080,769)	(76,240,730)
Net decrease	(1,974,303)	$(14,130,801)	(2,128,728)	$(9,971,177)
Total net decrease	(6,324,421)	$(46,546,925)	(2,826,958)	$(11,808,364)

Capital Appreciation Value Trust	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series I shares
Sold	242,669	$3,489,974	103,645	$1,297,857
Distributions reinvested	—	—	41,423	514,065
Repurchased	(32,885)	(473,347)	(269,017)	(3,161,091)
Net increase (decrease)	209,784	$3,016,627	(123,949)	$(1,349,169)
Series II shares
Sold	237,090	$3,302,525	214,189	$2,803,112
Distributions reinvested	—	—	1,993,970	24,625,527
Repurchased	(2,304,102)	(32,398,424)	(2,930,899)	(36,750,743)
Net decrease	(2,067,012)	$(29,095,899)	(722,740)	$(9,322,104)
Series NAV shares
Sold	1,090,163	$15,280,440	1,440,088	$18,173,546
Distributions reinvested	—	—	1,061,455	13,130,202
Repurchased	(407,976)	(5,787,526)	(953,562)	(11,983,369)
Net increase	682,187	$9,492,914	1,547,981	$19,320,379
Total net increase (decrease)	(1,175,041)	$(16,586,358)	701,292	$8,649,106

Disciplined Value International Trust	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series I shares
Sold	54,292	$785,323	160,080	$1,770,429
Distributions reinvested	—	—	130,430	1,438,637
Repurchased	(405,208)	(5,738,599)	(810,267)	(9,167,346)
Net decrease	(350,916)	$(4,953,276)	(519,757)	$(5,958,280)
Series II shares
Sold	41,581	$603,438	197,958	$2,235,610
Distributions reinvested	—	—	71,958	793,702
Repurchased	(306,428)	(4,366,161)	(601,995)	(6,890,451)
Net decrease	(264,847)	$(3,762,723)	(332,079)	$(3,861,139)
Series NAV shares
Sold	438,665	$6,332,648	939,068	$9,869,347
Distributions reinvested	—	—	316,378	3,461,172
Repurchased	(753,055)	(10,815,542)	(1,316,739)	(15,073,683)
Net decrease	(314,390)	$(4,482,894)	(61,293)	$(1,743,164)
Total net decrease	(930,153)	$(13,198,893)	(913,129)	$(11,562,583)

Emerging Markets Value Trust	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series I shares
Sold	94,720	$1,001,813	49,767	$392,560
Distributions reinvested	—	—	15,181	124,789
Repurchased	(87,645)	(946,085)	(78,579)	(672,630)
Net increase (decrease)	7,075	$55,728	(13,631)	$(155,281)
Series II shares
Sold	255,038	$2,642,381	397,541	$2,947,587
Distributions reinvested	—	—	77,731	638,953
Repurchased	(454,766)	(4,815,322)	(707,653)	(5,949,846)
Net decrease	(199,728)	$(2,172,941)	(232,381)	$(2,363,306)

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Emerging Markets Value Trust, Cont'd	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series NAV shares
Sold	989,490	$10,486,031	3,074,065	$25,601,816
Distributions reinvested	—	—	495,136	4,060,113
Repurchased	(1,024,192)	(10,746,448)	(3,681,539)	(30,189,053)
Net decrease	(34,702)	$(260,417)	(112,338)	$(527,124)
Total net decrease	(227,355)	$(2,377,630)	(358,350)	$(3,045,711)

Equity Income Trust	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series I shares
Sold	208,043	$3,370,015	193,014	$2,401,652
Distributions reinvested	—	—	1,847,720	21,710,712
Repurchased	(945,310)	(14,545,309)	(2,281,367)	(30,245,963)
Net decrease	(737,267)	$(11,175,294)	(240,633)	$(6,133,599)
Series II shares
Sold	263,364	$4,279,206	286,348	$3,459,695
Distributions reinvested	—	—	981,536	11,464,344
Repurchased	(720,459)	(11,209,665)	(1,499,805)	(19,362,150)
Net decrease	(457,095)	$(6,930,459)	(231,921)	$(4,438,111)
Series NAV shares
Sold	3,508,493	$52,090,179	9,349,611	$108,715,328
Distributions reinvested	—	—	9,907,677	115,622,593
Repurchased	(8,209,216)	(129,086,990)	(21,503,462)	(275,145,296)
Net decrease	(4,700,723)	$(76,996,811)	(2,246,174)	$(50,807,375)
Total net decrease	(5,895,085)	$(95,102,564)	(2,718,728)	$(61,379,085)

Financial Industries Trust	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series I shares
Sold	1,252,013	$18,275,908	877,874	$10,042,802
Distributions reinvested	—	—	845,030	9,295,328
Repurchased	(753,403)	(11,040,218)	(2,474,960)	(29,795,596)
Net increase (decrease)	498,610	$7,235,690	(752,056)	$(10,457,466)
Series II shares
Sold	356,482	$5,248,962	99,663	$1,101,630
Distributions reinvested	—	—	130,970	1,427,577
Repurchased	(87,855)	(1,263,813)	(264,244)	(3,067,024)
Net increase (decrease)	268,627	$3,985,149	(33,611)	$(537,817)
Series NAV shares
Sold	276,248	$4,047,486	126,550	$1,528,459
Distributions reinvested	—	—	219,720	2,408,134
Repurchased	(108,397)	(1,547,733)	(418,969)	(4,977,404)
Net increase (decrease)	167,851	$2,499,753	(72,699)	$(1,040,811)
Total net increase (decrease)	935,088	$13,720,592	(858,366)	$(12,036,094)

Fundamental All Cap Core Trust	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series I shares
Sold	143,551	$4,880,660	187,477	$4,449,273
Distributions reinvested	—	—	134,814	3,553,697
Repurchased	(462,799)	(15,005,315)	(1,211,487)	(29,521,410)
Net decrease	(319,248)	$(10,124,655)	(889,196)	$(21,518,440)
Series II shares
Sold	67,678	$2,333,932	41,530	$961,810
Distributions reinvested	—	—	53,929	1,417,804
Repurchased	(148,885)	(4,966,340)	(372,864)	(9,505,554)
Net decrease	(81,207)	$(2,632,408)	(277,405)	$(7,125,940)

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Fundamental All Cap Core Trust, Cont'd	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series NAV shares
Sold	7,805	$273,039	385,095	$8,567,156
Distributions reinvested	—	—	2,196,683	58,278,006
Repurchased	(2,352,043)	(79,047,215)	(4,910,060)	(124,884,034)
Net decrease	(2,344,238)	$(78,774,176)	(2,328,282)	$(58,038,872)
Total net decrease	(2,744,693)	$(91,531,239)	(3,494,883)	$(86,683,252)

Fundamental Large Cap Value Trust	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series I shares
Sold	565,209	$16,518,875	260,365	$5,407,923
Distributions reinvested	—	—	489,839	10,560,919
Repurchased	(682,292)	(19,301,484)	(2,625,547)	(56,668,522)
Net decrease	(117,083)	$(2,782,609)	(1,875,343)	$(40,699,680)
Series II shares
Sold	197,355	$5,789,463	285,956	$5,309,493
Distributions reinvested	—	—	186,839	4,060,006
Repurchased	(647,310)	(18,628,942)	(1,194,985)	(26,215,465)
Net decrease	(449,955)	$(12,839,479)	(722,190)	$(16,845,966)
Series NAV shares
Sold	325,561	$9,328,523	1,300,305	$26,713,513
Distributions reinvested	—	—	153,022	3,300,686
Repurchased	(307,518)	(8,739,024)	(679,102)	(14,888,265)
Net increase	18,043	$589,499	774,225	$15,125,934
Total net decrease	(548,995)	$(15,032,589)	(1,823,308)	$(42,419,712)

Global Equity Trust	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series I shares
Sold	10,871	$257,654	182,495	$2,986,832
Issued in reorganization (Note 13)	—	—	7,506,500	144,970,081
Distributions reinvested	—	—	120,446	2,255,953
Repurchased	(1,008,983)	(22,548,978)	(818,580)	(15,582,367)
Net increase (decrease)	(998,112)	$(22,291,324)	6,990,861	$134,630,499
Series II shares
Sold	13,848	$307,827	26,836	$508,580
Distributions reinvested	—	—	27,029	503,822
Repurchased	(88,664)	(1,960,335)	(301,261)	(5,486,252)
Net decrease	(74,816)	$(1,652,508)	(247,396)	$(4,473,850)
Series NAV shares
Sold	29,469	$641,052	116,006	$2,128,612
Distributions reinvested	—	—	47,706	892,097
Repurchased	(89,264)	(1,998,045)	(217,447)	(4,104,092)
Net decrease	(59,795)	$(1,356,993)	(53,735)	$(1,083,383)
Total net increase (decrease)	(1,132,723)	$(25,300,825)	6,689,730	$129,073,266

Health Sciences Trust	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series I shares
Sold	30,808	$998,394	200,168	$5,431,964
Distributions reinvested	—	—	267,269	7,609,149
Repurchased	(207,112)	(6,585,591)	(542,151)	(15,438,390)
Net decrease	(176,304)	$(5,587,197)	(74,714)	$(2,397,277)
Series II shares
Sold	39,096	$1,151,713	232,708	$5,820,723
Distributions reinvested	—	—	335,724	8,601,256
Repurchased	(388,857)	(11,104,934)	(447,561)	(11,330,166)
Net increase (decrease)	(349,761)	$(9,953,221)	120,871	$3,091,813

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Health Sciences Trust, Cont'd	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series NAV shares
Sold	235,447	$7,635,305	360,720	$10,488,088
Distributions reinvested	—	—	506,196	14,689,821
Repurchased	(175,252)	(5,643,574)	(479,739)	(13,754,589)
Net increase	60,195	$1,991,731	387,177	$11,423,320
Total net increase (decrease)	(465,870)	$(13,548,687)	433,334	$12,117,856

International Equity Index Trust	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series I shares
Sold	849,528	$17,655,874	930,796	$15,948,275
Distributions reinvested	—	—	644,937	10,938,135
Repurchased	(944,977)	(19,568,755)	(2,744,009)	(45,556,909)
Net decrease	(95,449)	$(1,912,881)	(1,168,276)	$(18,670,499)
Series II shares
Sold	44,501	$913,886	92,935	$1,554,558
Distributions reinvested	—	—	38,661	656,853
Repurchased	(46,566)	(965,648)	(192,743)	(3,157,110)
Net decrease	(2,065)	$(51,762)	(61,147)	$(945,699)
Series NAV shares
Sold	545,280	$11,348,036	1,487,526	$25,201,951
Distributions reinvested	—	—	875,406	14,838,122
Repurchased	(841,344)	(17,217,286)	(2,644,943)	(45,231,553)
Net decrease	(296,064)	$(5,869,250)	(282,011)	$(5,191,480)
Total net decrease	(393,578)	$(7,833,893)	(1,511,434)	$(24,807,678)

International Small Company Trust	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series I shares
Sold	21,395	$355,480	39,450	$474,755
Distributions reinvested	—	—	100,036	1,259,454
Repurchased	(159,155)	(2,509,728)	(257,699)	(3,259,266)
Net decrease	(137,760)	$(2,154,248)	(118,213)	$(1,525,057)
Series II shares
Sold	36,536	$584,484	89,275	$1,185,643
Distributions reinvested	—	—	52,312	658,088
Repurchased	(107,932)	(1,733,477)	(164,676)	(2,044,024)
Net decrease	(71,396)	$(1,148,993)	(23,089)	$(200,293)
Series NAV shares
Sold	581,025	$9,306,638	573,793	$6,819,431
Distributions reinvested	—	—	284,133	3,580,074
Repurchased	(451,969)	(7,181,182)	(849,215)	(10,833,196)
Net increase (decrease)	129,056	$2,125,456	8,711	$(433,691)
Total net decrease	(80,100)	$(1,177,785)	(132,591)	$(2,159,041)

Lifestyle Balanced Portfolio	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series I shares
Sold	233,541	$3,920,314	359,279	$5,657,155
Distributions reinvested	—	—	139,133	2,212,734
Repurchased	(348,987)	(5,855,836)	(434,863)	(6,537,668)
Net increase (decrease)	(115,446)	$(1,935,522)	63,549	$1,332,221
Series II shares
Sold	2,105,338	$35,319,837	8,138,103	$124,512,209
Distributions reinvested	—	—	3,147,016	50,051,972
Repurchased	(2,627,112)	(44,403,873)	(8,461,923)	(122,726,712)
Net increase (decrease)	(521,774)	$(9,084,036)	2,823,196	$51,837,469

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Lifestyle Balanced Portfolio, Cont'd	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series NAV shares
Sold	703,628	$11,882,665	942,803	$14,741,841
Distributions reinvested	—	—	470,145	7,473,357
Repurchased	(209,607)	(3,514,191)	(456,097)	(7,109,453)
Net increase	494,021	$8,368,474	956,851	$15,105,745
Total net increase (decrease)	(143,199)	$(2,651,084)	3,843,596	$68,275,435

Lifestyle Conservative Portfolio	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series I shares
Sold	319,061	$4,604,533	520,129	$7,319,025
Distributions reinvested	—	—	53,824	771,879
Repurchased	(196,700)	(2,835,945)	(334,619)	(4,659,629)
Net increase	122,361	$1,768,588	239,334	$3,431,275
Series II shares
Sold	1,253,834	$18,106,248	4,057,176	$56,829,785
Distributions reinvested	—	—	659,031	9,455,527
Repurchased	(1,608,013)	(23,222,755)	(2,705,610)	(38,146,901)
Net increase (decrease)	(354,179)	$(5,116,507)	2,010,597	$28,138,411
Series NAV shares
Sold	171,184	$2,464,267	524,681	$7,533,847
Distributions reinvested	—	—	28,676	411,202
Repurchased	(118,715)	(1,700,955)	(237,820)	(3,399,644)
Net increase	52,469	$763,312	315,537	$4,545,405
Total net increase (decrease)	(179,349)	$(2,584,607)	2,565,468	$36,115,091

Lifestyle Growth Portfolio	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series I shares
Sold	274,956	$5,160,600	478,268	$7,983,782
Issued in reorganization (Note 13)	170,489	3,248,951	—	—
Distributions reinvested	—	—	988,609	16,683,731
Repurchased	(762,965)	(14,146,317)	(1,437,751)	(23,610,633)
Net increase (decrease)	(317,520)	$(5,736,766)	29,126	$1,056,880
Series II shares
Sold	184,130	$3,105,863	6,116,415	$101,042,598
Issued in reorganization (Note 13)	866,692	16,521,890	—	—
Distributions reinvested	—	—	23,030,720	388,074,250
Repurchased	(23,645,656)	(444,264,749)	(43,922,767)	(716,089,958)
Net decrease	(22,594,834)	$(424,636,996)	(14,775,632)	$(226,973,110)
Series NAV shares
Sold	1,428,461	$27,056,177	1,568,699	$26,088,516
Issued in reorganization (Note 13)	1,012,011	19,278,479	—	—
Distributions reinvested	—	—	1,997,743	33,722,560
Repurchased	(808,980)	(15,406,315)	(1,243,416)	(20,476,111)
Net increase	1,631,492	$30,928,341	2,323,026	$39,334,965
Total net decrease	(21,280,862)	$(399,445,421)	(12,423,480)	$(186,581,265)

Lifestyle Moderate Portfolio	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series I shares
Sold	186,024	$2,970,576	204,658	$3,075,944
Distributions reinvested	—	—	48,127	741,472
Repurchased	(129,963)	(2,089,657)	(152,179)	(2,217,252)
Net increase	56,061	$880,919	100,606	$1,600,164
Series II shares
Sold	688,031	$11,043,015	3,415,787	$51,266,722
Distributions reinvested	—	—	1,006,770	15,517,113
Repurchased	(1,436,779)	(23,029,559)	(3,072,543)	(43,987,991)
Net increase (decrease)	(748,748)	$(11,986,544)	1,350,014	$22,795,844

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Lifestyle Moderate Portfolio, Cont'd	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series NAV shares
Sold	412,754	$6,577,879	419,117	$6,367,573
Distributions reinvested	—	—	120,007	1,848,646
Repurchased	(130,507)	(2,077,174)	(339,395)	(5,021,374)
Net increase	282,247	$4,500,705	199,729	$3,194,845
Total net increase (decrease)	(410,440)	$(6,604,920)	1,650,349	$27,590,853

Mid Cap Index Trust	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series I shares
Sold	1,127,548	$27,632,176	612,824	$10,117,174
Distributions reinvested	—	—	5,773,435	105,191,983
Repurchased	(3,557,022)	(85,543,694)	(8,678,002)	(167,035,907)
Net decrease	(2,429,474)	$(57,911,518)	(2,291,743)	$(51,726,750)
Series II shares
Sold	39,545	$964,073	44,091	$694,714
Distributions reinvested	—	—	383,728	6,949,314
Repurchased	(183,378)	(4,384,331)	(562,204)	(10,661,059)
Net decrease	(143,833)	$(3,420,258)	(134,385)	$(3,017,031)
Series NAV shares
Sold	1,429,102	$34,875,648	1,980,024	$37,546,279
Distributions reinvested	—	—	1,338,404	24,385,729
Repurchased	(1,307,220)	(31,150,273)	(2,646,056)	(52,461,826)
Net increase	121,882	$3,725,375	672,372	$9,470,182
Total net decrease	(2,451,425)	$(57,606,401)	(1,753,756)	$(45,273,599)

Mid Cap Stock Trust	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series I shares
Sold	52,244	$1,451,302	98,756	$2,052,636
Distributions reinvested	—	—	1,136,605	26,323,767
Repurchased	(693,449)	(18,875,573)	(1,579,565)	(34,220,879)
Net decrease	(641,205)	$(17,424,271)	(344,204)	$(5,844,476)
Series II shares
Sold	33,026	$836,608	166,453	$3,272,229
Distributions reinvested	—	—	694,907	14,718,135
Repurchased	(620,134)	(15,341,352)	(982,712)	(19,296,684)
Net decrease	(587,108)	$(14,504,744)	(121,352)	$(1,306,320)
Series NAV shares
Sold	883,237	$24,125,398	2,745,766	$52,818,802
Distributions reinvested	—	—	2,903,582	68,553,560
Repurchased	(3,068,571)	(86,000,543)	(11,001,058)	(226,547,696)
Net decrease	(2,185,334)	$(61,875,145)	(5,351,710)	$(105,175,334)
Total net decrease	(3,413,647)	$(93,804,160)	(5,817,266)	$(112,326,130)

Mid Value Trust	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series I shares
Sold	1,864,597	$22,157,441	447,317	$4,046,977
Distributions reinvested	—	—	855,678	7,529,965
Repurchased	(1,580,753)	(18,403,645)	(5,297,461)	(46,155,571)
Net increase (decrease)	283,844	$3,753,796	(3,994,466)	$(34,578,629)
Series II shares
Sold	576,239	$7,027,207	76,233	$596,114
Distributions reinvested	—	—	181,778	1,603,282
Repurchased	(554,962)	(6,553,247)	(792,572)	(6,794,326)
Net increase (decrease)	21,277	$473,960	(534,561)	$(4,594,930)

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Portfolio share transactions, continued

Mid Value Trust, Cont'd	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series NAV shares
Sold	450,829	$5,380,343	4,439,383	$33,012,684
Distributions reinvested	—	—	1,488,463	13,009,167
Repurchased	(4,823,676)	(56,454,165)	(11,448,285)	(97,593,630)
Net decrease	(4,372,847)	$(51,073,822)	(5,520,439)	$(51,571,779)
Total net decrease	(4,067,726)	$(46,846,066)	(10,049,466)	$(90,745,338)

Real Estate Securities Trust	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series I shares
Sold	26,412	$610,184	123,621	$2,813,924
Distributions reinvested	—	—	476,394	8,384,536
Repurchased	(217,283)	(4,529,989)	(478,981)	(9,519,121)
Net increase (decrease)	(190,871)	$(3,919,805)	121,034	$1,679,339
Series II shares
Sold	88,130	$2,023,296	106,885	$2,137,414
Distributions reinvested	—	—	253,148	4,452,874
Repurchased	(149,705)	(3,191,563)	(380,052)	(7,521,677)
Net decrease	(61,575)	$(1,168,267)	(20,019)	$(931,389)
Series NAV shares
Sold	140,374	$3,042,245	603,549	$11,525,082
Distributions reinvested	—	—	1,741,969	30,449,623
Repurchased	(456,406)	(9,613,498)	(1,612,099)	(33,721,171)
Net increase (decrease)	(316,032)	$(6,571,253)	733,419	$8,253,534
Total net increase (decrease)	(568,478)	$(11,659,325)	834,434	$9,001,484

Science & Technology Trust	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series I shares
Sold	343,019	$15,236,683	2,182,944	$74,009,543
Distributions reinvested	—	—	2,221,111	80,848,453
Repurchased	(2,578,869)	(112,514,179)	(4,503,526)	(147,635,681)
Net increase (decrease)	(2,235,850)	$(97,277,496)	(99,471)	$7,222,315
Series II shares
Sold	119,454	$4,862,007	427,671	$13,551,802
Distributions reinvested	—	—	222,328	7,556,916
Repurchased	(310,543)	(12,468,692)	(625,532)	(19,389,051)
Net increase (decrease)	(191,089)	$(7,606,685)	24,467	$1,719,667
Series NAV shares
Sold	137,912	$6,146,556	692,480	$24,440,429
Distributions reinvested	—	—	317,019	11,723,380
Repurchased	(137,993)	(6,154,175)	(571,759)	(19,249,000)
Net increase (decrease)	(81)	$(7,619)	437,740	$16,914,809
Total net increase (decrease)	(2,427,020)	$(104,891,800)	362,736	$25,856,791

Small Cap Index Trust	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series I shares
Sold	2,373,781	$44,247,503	1,435,525	$18,707,386
Distributions reinvested	—	—	2,233,603	29,595,245
Repurchased	(2,115,086)	(38,869,951)	(4,578,414)	(60,901,980)
Net increase (decrease)	258,695	$5,377,552	(909,286)	$(12,599,349)
Series II shares
Sold	82,248	$1,511,625	60,163	$688,288
Distributions reinvested	—	—	191,866	2,524,960
Repurchased	(202,818)	(3,718,208)	(381,841)	(5,281,043)
Net decrease	(120,570)	$(2,206,583)	(129,812)	$(2,067,795)

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Portfolio share transactions, continued

Small Cap Index Trust, Cont'd	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series NAV shares
Sold	1,178,328	$21,802,579	1,410,892	$18,063,257
Distributions reinvested	—	—	947,659	12,565,960
Repurchased	(1,279,176)	(23,211,278)	(4,136,301)	(59,821,934)
Net decrease	(100,848)	$(1,408,699)	(1,777,750)	$(29,192,717)
Total net increase (decrease)	37,277	$1,762,270	(2,816,848)	$(43,859,861)

Small Cap Opportunities Trust	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series I shares
Sold	48,725	$1,520,412	44,823	$837,166
Distributions reinvested	—	—	203,462	4,400,886
Repurchased	(235,484)	(7,264,870)	(386,450)	(8,505,166)
Net decrease	(186,759)	$(5,744,458)	(138,165)	$(3,267,114)
Series II shares
Sold	157,138	$4,846,728	49,408	$908,419
Distributions reinvested	—	—	77,598	1,638,867
Repurchased	(151,847)	(4,628,353)	(212,108)	(4,685,305)
Net increase (decrease)	5,291	$218,375	(85,102)	$(2,138,019)
Series NAV shares
Sold	540,825	$17,447,346	177,026	$3,606,736
Distributions reinvested	—	—	74,320	1,594,913
Repurchased	(596,947)	(18,996,136)	(120,645)	(2,682,580)
Net increase (decrease)	(56,122)	$(1,548,790)	130,701	$2,519,069
Total net decrease	(237,590)	$(7,074,873)	(92,566)	$(2,886,064)

Small Cap Stock Trust	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series I shares
Sold	1,033,203	$13,077,081	1,964,872	$19,501,951
Distributions reinvested	—	—	1,254,833	12,335,008
Repurchased	(2,154,931)	(26,747,976)	(2,805,463)	(24,221,348)
Net increase (decrease)	(1,121,728)	$(13,670,895)	414,242	$7,615,611
Series II shares
Sold	155,628	$1,793,926	256,688	$2,254,350
Distributions reinvested	—	—	484,559	4,351,340
Repurchased	(561,926)	(6,329,996)	(1,074,533)	(8,912,272)
Net decrease	(406,298)	$(4,536,070)	(333,286)	$(2,306,582)
Series NAV shares
Sold	2,931,521	$38,803,452	1,335,450	$13,980,624
Distributions reinvested	—	—	2,350,557	23,599,592
Repurchased	(3,176,114)	(38,921,815)	(2,877,928)	(26,311,259)
Net increase (decrease)	(244,593)	$(118,363)	808,079	$11,268,957
Total net increase (decrease)	(1,772,619)	$(18,325,328)	889,035	$16,577,986

Small Cap Value Trust	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series I shares
Sold	765,726	$13,288,111	575,380	$7,511,713
Distributions reinvested	—	—	1,595,451	19,033,726
Repurchased	(1,288,963)	(21,558,747)	(2,791,403)	(38,320,748)
Net decrease	(523,237)	$(8,270,636)	(620,572)	$(11,775,309)
Series II shares
Sold	358,867	$6,135,501	210,747	$2,684,744
Distributions reinvested	—	—	209,719	2,483,074
Repurchased	(287,292)	(4,884,274)	(394,590)	(5,369,034)
Net increase (decrease)	71,575	$1,251,227	25,876	$(201,216)

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Portfolio share transactions, continued

Small Cap Value Trust, Cont'd	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series NAV shares
Sold	1,534,601	$24,948,031	7,518,846	$96,121,210
Distributions reinvested	—	—	2,352,828	27,951,600
Repurchased	(2,522,692)	(43,976,394)	(4,435,738)	(57,635,557)
Net increase (decrease)	(988,091)	$(19,028,363)	5,435,936	$66,437,253
Total net increase (decrease)	(1,439,753)	$(26,047,772)	4,841,240	$54,460,728

Small Company Value Trust	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series I shares
Sold	220,429	$2,698,033	131,706	$1,136,409
Distributions reinvested	—	—	354,922	3,126,866
Repurchased	(351,876)	(4,167,966)	(784,978)	(7,120,221)
Net decrease	(131,447)	$(1,469,933)	(298,350)	$(2,856,946)
Series II shares
Sold	65,588	$762,303	81,940	$587,391
Distributions reinvested	—	—	303,681	2,547,886
Repurchased	(390,854)	(4,420,808)	(684,570)	(5,809,205)
Net decrease	(325,266)	$(3,658,505)	(298,949)	$(2,673,928)
Series NAV shares
Sold	306,648	$3,649,644	1,101,417	$8,710,384
Distributions reinvested	—	—	386,010	3,377,586
Repurchased	(390,909)	(4,600,160)	(373,545)	(3,383,568)
Net increase (decrease)	(84,261)	$(950,516)	1,113,882	$8,704,402
Total net increase (decrease)	(540,974)	$(6,078,954)	516,583	$3,173,528

Strategic Equity Allocation Trust	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series NAV shares
Sold	35,068	$769,445	21,176,427	$346,232,324
Distributions reinvested	—	—	44,896,942	831,491,357
Repurchased	(55,234,313)	(1,242,201,603)	(100,319,007)	(1,907,703,990)
Net decrease	(55,199,245)	$(1,241,432,158)	(34,245,638)	$(729,980,309)
Total net decrease	(55,199,245)	$(1,241,432,158)	(34,245,638)	$(729,980,309)

Total Stock Market Index Trust	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series I shares
Sold	692,586	$19,668,299	1,177,504	$27,244,563
Distributions reinvested	—	—	2,159,217	50,331,351
Repurchased	(1,457,845)	(41,482,855)	(4,279,332)	(100,050,186)
Net decrease	(765,259)	$(21,814,556)	(942,611)	$(22,474,272)
Series II shares
Sold	75,917	$2,130,532	41,003	$921,078
Distributions reinvested	—	—	177,421	4,117,933
Repurchased	(122,086)	(3,434,330)	(205,885)	(4,918,636)
Net increase (decrease)	(46,169)	$(1,303,798)	12,539	$120,375
Series NAV shares
Sold	110,309	$3,083,652	809,667	$18,270,330
Distributions reinvested	—	—	853,927	19,905,047
Repurchased	(307,754)	(8,658,023)	(1,121,765)	(26,860,314)
Net increase (decrease)	(197,445)	$(5,574,371)	541,829	$11,315,063
Total net decrease	(1,008,873)	$(28,692,725)	(388,243)	$(11,038,834)

Affiliates of the Trust owned 100% of shares of the portfolios, with the exception of Emerging Markets Value Trust, Financial Industries Trust, Fundamental All Cap Core Trust and International Small Company Trust, where affiliates owned 98.98%, 91.18%, 97.71% and 94.67% of Series II, respectively, and Emerging Markets Value Trust and International Equity Index Trust, where affiliates owned 64.19% and 99.98% of Series NAV, respectively, on June 30, 2021. Such concentration of shareholders’ capital could have a material effect on the portfolios if such shareholders redeem from the portfolios.

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7. Purchase and sale of securities

Purchases and sales of securities, other than short-term investments, amounted to the following for the six months ended June 30, 2021:


Portfolio	Purchases	Sales
500 Index Trust	$58,374,667	$53,684,597
American Asset Allocation Trust	53,037,280	114,313,247
American Global Growth Trust	16,709,958	21,360,689
American Growth Trust	141,633,805	85,030,435
American Growth-Income Trust	15,499,998	94,455,936
American International Trust	9,345,601	45,389,823
Blue Chip Growth Trust	379,176,827	564,043,217
Capital Appreciation Trust	172,209,710	215,754,041
Capital Appreciation Value Trust	132,974,269	136,515,548
Disciplined Value International Trust	110,619,399	120,944,627
Emerging Markets Value Trust	25,197,973	27,612,168
Equity Income Trust	207,698,022	286,198,473
Financial Industries Trust	68,023,898	53,185,540
Fundamental All Cap Core Trust	114,336,574	192,328,044
Fundamental Large Cap Value Trust	155,349,486	170,394,235
Global Equity Trust	140,241,311	163,511,354
Health Sciences Trust	46,623,699	61,697,794
International Equity Index Trust	20,049,052	25,959,172
International Small Company Trust	16,348,790	16,319,657
Lifestyle Balanced Portfolio	51,355,607	55,574,553
Lifestyle Conservative Portfolio	22,115,166	25,031,052
Lifestyle Growth Portfolio	135,070,590	582,380,152
Lifestyle Moderate Portfolio	19,136,879	26,238,216
Mid Cap Index Trust	115,922,459	230,031,421
Mid Cap Stock Trust	377,765,626	457,209,881
Mid Value Trust	96,299,572	177,755,794
Real Estate Securities Trust	141,028,425	145,730,081
Science & Technology Trust	543,344,947	655,998,709
Small Cap Index Trust	104,086,581	115,385,932
Small Cap Opportunities Trust	33,155,232	40,196,648
Small Cap Stock Trust	296,310,820	305,171,365
Small Cap Value Trust	79,094,576	105,215,692
Small Company Value Trust	22,711,926	30,792,589
Strategic Equity Allocation Trust	258,662,963	1,562,033,575
Total Stock Market Index Trust	17,111,913	62,968,004

8. Investment in affiliated underlying funds

The Lifestyle Portfolios invest primarily in affiliated underlying funds that are managed by the Advisor and its affiliates. The Lifestyle Portfolios do not invest in the affiliated underlying funds for the purpose of exercising management or control; however, the portfolios' investment may represent a significant portion of each underlying funds’ net assets. At June 30, 2021, the following portfolios held 5% or more of the net assets of the underlying funds shown below:

Portfolio	Affiliated Class NAV	Percentage of underlying fund net assets
Lifestyle Balanced Portfolio	Select Bond Trust	7.5%
	Strategic Equity Allocation Trust	6.5%
Lifestyle Growth Portfolio	Strategic Equity Allocation Trust	48.4%
	Select Bond Trust	24.0%

Information regarding the portfolios' fiscal year to date purchases and sales of the affiliated underlying funds as well as income and capital gains earned by the portfolios, if any, is as follows:

							Dividends and distributions
Affiliate	Ending share amount	Beginning value	Cost of purchases	Proceeds from shares sold	Realized gain (loss)	Change in unrealized appreciation (depreciation)	Income distributions received	Capital gain distributions received	Ending value
500 Index Trust
John Hancock Collateral Trust*	103,598	$5,359,566	$14,675,790	$(18,998,552)	$(998)	$649	$22,294	—	$1,036,455

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Investment in affiliated underlying funds, continued

							Dividends and distributions
Affiliate	Ending share amount	Beginning value	Cost of purchases	Proceeds from shares sold	Realized gain (loss)	Change in unrealized appreciation (depreciation)	Income distributions received	Capital gain distributions received	Ending value
Blue Chip Growth Trust
John Hancock Collateral Trust*	615,495	$675,961	$37,832,167	$(32,349,907)	$(209)	$(232)	$8,833	—	$6,157,780
Capital Appreciation Trust
John Hancock Collateral Trust*	—	$11,474,585	$22,391,223	$(33,866,107)	$(647)	$946	$300	—	—
Capital Appreciation Value Trust
John Hancock Collateral Trust*	—	$140,752	$3,869,246	$(4,009,990)	$(15)	$7	—	—	—
Disciplined Value International Trust
John Hancock Collateral Trust*	953,970	$1,737,079	$62,192,533	$(54,384,833)	$(623)	$(71)	$55,445	—	$9,544,085
Emerging Markets Value Trust
John Hancock Collateral Trust*	254,590	$3,968,006	$14,688,344	$(16,108,678)	$(733)	$131	$46,718	—	$2,547,070
Equity Income Trust
John Hancock Collateral Trust*	662,848	$9,267,717	$57,579,004	$(60,213,788)	$(1,655)	$250	$14,801	—	$6,631,528
Financial Industries Trust
John Hancock Collateral Trust*	—	$191,525	$359,550	$(551,087)	$12	—	$54	—	—
International Equity Index Trust
John Hancock Collateral Trust*	737,106	$20,951,501	$76,144,414	$(89,719,451)	$(3,984)	$1,967	$64,670	—	$7,374,447
International Small Company Trust
John Hancock Collateral Trust*	197,422	$7,803,195	$8,480,651	$(14,308,126)	$(1,951)	$1,363	$52,493	—	$1,975,132
Lifestyle Balanced Portfolio
Select Bond	41,563,537	$562,356,901	$48,332,095	$(5,207,549)	$286,946	$(5,590,916)	—	—	$600,177,477
Strategic Equity Allocation	25,293,976	574,703,440	3,023,512	(50,367,003)	12,643,608	60,728,384	—	—	600,731,941
					$12,930,554	$55,137,468	—	—	$1,200,909,418
Lifestyle Conservative Portfolio
Select Bond	13,014,924	$186,813,798	$15,959,763	$(12,958,131)	$447,505	$(2,327,435)	—	—	$187,935,500
Strategic Equity Allocation	1,976,707	46,859,783	6,155,403	(12,072,920)	1,972,567	4,031,969	—	—	46,946,802
					$2,420,072	$1,704,534	—	—	$234,882,302
Lifestyle Growth Portfolio
Select Bond	133,813,508	$1,805,768,365	$146,557,985	$(2,793,581)	$156,704	$(17,422,415)	—	—	$1,932,267,058
Strategic Equity Allocation	189,836,764	4,495,884,799	22,722,397	(579,586,267)	148,407,167	421,195,039	—	—	4,508,623,135
					$148,563,871	$403,772,624**	—	—	$6,440,890,193
Lifestyle Moderate Portfolio
Select Bond	15,192,726	$212,440,006	$17,473,252	$(8,517,936)	$481,892	$(2,494,254)	—	—	$219,382,960
Strategic Equity Allocation	6,138,183	143,764,119	1,663,627	(17,720,280)	4,373,737	13,700,639	—	—	145,781,842
					$4,855,629	$11,206,385	—	—	$365,164,802
Mid Cap Index Trust
John Hancock Collateral Trust*	609,581	$7,178,283	$32,279,375	$(33,359,242)	$(263)	$462	$6,149	—	$6,098,615
Mid Cap Stock Trust
John Hancock Collateral Trust*	2,996,018	$7,783,323	$168,756,873	$(146,564,348)	$(1,673)	$(214)	$23,207	—	$29,973,961
Mid Value Trust
John Hancock Collateral Trust*	282,737	$3,002,702	$29,932,465	$(30,106,147)	$(507)	$154	$678	—	$2,828,667
Science & Technology Trust
John Hancock Collateral Trust*	969,251	$9,895,989	$76,306,611	$(76,504,716)	$(932)	$19	$21,580	—	$9,696,971

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Investment in affiliated underlying funds, continued

							Dividends and distributions
Affiliate	Ending share amount	Beginning value	Cost of purchases	Proceeds from shares sold	Realized gain (loss)	Change in unrealized appreciation (depreciation)	Income distributions received	Capital gain distributions received	Ending value
Small Cap Index Trust
John Hancock Collateral Trust*	569,583	$9,853,849	$47,473,941	$(51,627,787)	$(2,653)	$1,096	$111,318	—	$5,698,446
Small Cap Opportunities Trust
John Hancock Collateral Trust*	43,773	$1,188,093	$5,614,690	$(6,364,765)	$(214)	$132	$9,574	—	$437,936
Small Cap Stock Trust
John Hancock Collateral Trust*	923,740	$19,198,246	$79,257,598	$(89,212,440)	$(2,781)	$1,027	$64,275	—	$9,241,650
Small Cap Value Trust
John Hancock Collateral Trust*	21,812	$884,316	$2,720,452	$(3,386,609)	$(1)	$65	—	—	$218,223
Small Company Value Trust
John Hancock Collateral Trust*	51,594	$1,312,799	$14,208,354	$(15,004,775)	$(259)	$58	$15,640	—	$516,177
Strategic Equity Allocation Trust
John Hancock Collateral Trust*	4,731,904	$93,350,730	$366,679,081	$(412,684,637)	$(11,754)	$7,389	$396,467	—	$47,340,809
Total Stock Market Index Trust
John Hancock Collateral Trust*	922,812	$10,477,471	$36,184,945	$(37,429,079)	$(2,552)	$1,575	$73,942	—	$9,232,360

*	Refer to the Securities lending note within Note 2 for details regarding this investment.
**	Includes unrealized appreciation of investments received in reorganization. See Reorganization note following.

9. Investment in affiliates of advisor

Information regarding the portfolios’ fiscal year to date purchases and sales of affiliated investments of the advisor as well as income and capital gains earned by the portfolios, if any, is as follows:

							Dividends and distributions
Affiliate	Ending share amount	Beginning value	Cost of purchases	Proceeds from shares sold	Realized gain (loss)	Change in unrealized appreciation (depreciation)	Income distributions received	Capital gain distributions received	Ending value
International Equity Index Trust
Manulife Financial Corp.	66,100	$1,224,228	$27,664	$(75,447)	$29,334	$95,318	$25,258	—	$1,301,097

10. Investment by affiliated funds

Certain investors in the portfolios are affiliated funds that are managed by the Advisor and its affiliates. The affiliated funds do not invest in the portfolios for the purpose of exercising management or control; however, this investment may represent a significant portion of the portfolios' net assets. At June 30, 2021, the following fund(s) had an affiliate ownership of 5% or more of the portfolios' net assets:

Portfolio	Affiliated Concentration
Blue Chip Growth Trust	27.8%
Equity Income Trust	47.3%
Mid Cap Stock Trust	21.2%
Mid Value Trust	33.1%
Small Cap Value Trust	27.1%
Strategic Equity Allocation Trust	100.0%

11. Interfund trading

The portfolios are permitted to purchase or sell securities from or to certain other affiliated funds, as set forth in Rule 17a-7 of the 1940 Act, under specified conditions outlined in procedures adopted by the Board of Trustees of the Trust. The procedures have been designed to ensure that any purchase or sale of securities by the portfolios from or to another fund that is or could be considered an affiliate complies with Rule 17a-7 of the 1940 Act. Further, as defined under the procedures, each transaction is effected at the current market price. Pursuant to these procedures, for the six months ended June 30, 2021, the portfolios engaged in securities purchases and sales with affiliated funds, some of which have different fiscal reporting periods, as follows:

Portfolio	Purchases	Sales
Capital Appreciation Value Trust	$-	$427,135
Small Company Value Trust	-	229,140

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12. Restricted securities

The portfolios may hold restricted securities which are restricted as to resale and the portfolios have limited rights to registration under the Securities Act of 1933. Disposal may involve time-consuming negotiations and expenses, and prompt sale at an acceptable price may be difficult to achieve. The following table summarizes the restricted securities held at June 30, 2021:

Issuer, Description	Original acquisition date	Acquisition cost	Beginning share amount	Shares purchased	Shares sold	Ending share amount	Value as a percentage of net assets	Ending value
Health Sciences Trust
Acerta Pharma BV	2-8-16	$679,277	679,277¹	—	—	679,277	0.2%	$679,277
Doximity, Inc., Class B	4-10-14	152,390	63,222¹	—	—	63,222	1.0%	3,412,807
JAND, Inc., Class A	4-23-15	170,752	14,867	—	—	14,867	0.1%	364,696
JAND, Inc., Series D	4-23-15	381,289	33,198	—	—	33,198	0.2%	814,367
								$5,271,147
Mid Cap Stock Trust
Coupang, Inc., A Shares	11-20-14	$3,902,615	707,162	—	—	707,162	2.9%	$28,723,276
Essence Group Holdings Corp.	5-1-14	2,731,549	1,663,188	—	—	1,663,188	0.5%	5,056,092
Lookout, Inc., Series F	7-31-14	2,338,736	211,003	—	—	211,003	0.2%	1,782,975
Payoneer, Inc.	6-28-21	932,000	—	93,200	—	93,200	0.1%	894,790
The Honest Company, Inc.	8-20-14	2,080,622	159,725¹	—	—	159,725	0.3%	2,452,671
WeWork Companies, Inc., Series D1	12-8-14	1,983,758	92,333	—	(48,210)	44,123	0.0%²	378,077
WeWork Companies, Inc., Series D2	12-8-14	1,700,068	81,039	—	—	81,039	0.1%	694,400
								$39,982,281
Science & Technology Trust
DiDi Chuxing, Inc.	10-19-15	$260,905	9,513	—	—	9,513	0.0%²	$497,701
Small Cap Stock Trust
Latch, Inc.	6-7-21	$2,713,180	—	271,318	—	271,318	0.7%	$3,115,456
Payoneer, Inc.	6-28-21	474,000	—	47,400	—	47,400	0.1%	455,076
Porch.com, Inc.	12-24-20	1,483,790	216,863	—	(68,484)	148,379	0.7%	2,791,670
The Honest Company, Inc.	8-3-15	1,233,280	56,976¹	—	—	56,976	0.2%	874,909
								$7,237,111

¹	Two-for-one stock split and/or share conversion.
²	Less than 0.05%.

13. Reorganization

Lifestyle Growth Portfolio. On April 6, 2021, the shareholders of Lifestyle Aggressive Portfolio (the Acquired Portfolio) voted to approve an Agreement and Plan of Reorganization (the Agreement) which provided for an exchange of shares of Lifestyle Growth Portfolio (the Acquiring Portfolio) with a value equal to the net assets transferred.

The Agreement provided for (a) the acquisition of all the assets, subject to all of the liabilities, of the Acquired Portfolio in exchange for shares of the Acquiring Portfolio with a value equal to the net assets transferred; (b) the liquidation of the Acquired Portfolio; and (c) the distribution to Acquired Portfolio’s shareholders of such Acquiring Portfolio’s shares. The reorganization was intended to achieve a more consistent long-term performance record and stronger prospects for growth and achieve potential opportunities for economies of scale. As a result of the reorganization, the Acquiring Portfolio is the legal and accounting survivor.

The reorganization qualified as a tax-free reorganization for federal income tax purposes with no gain or loss recognized by the Acquired Portfolio or its shareholders. Thus, the investments were transferred to the Acquiring Portfolio at the Acquired Portfolio’s identified cost. All distributable amounts of net income and realized gains from the Acquired Portfolio were distributed prior to the reorganization. In addition, the expenses of the reorganization were borne by the Advisor. The effective time of the reorganization occurred immediately after the close of regularly scheduled trading on the New York Stock Exchange (NYSE) on April 23, 2021. The following outlines the reorganization:

Acquiring Portfolio	Acquired Portfolio	Net Asset Value of the Acquired Portfolio	Appreciation of the Acquired Portfolio’s Investments	Shares Redeemed by the Acquired Portfolio	Shares Issued by the Acquiring Portfolio	Acquiring Portfolio Net Assets Prior to Combination	Acquiring Portfolio Total Net Assets After Combination
Lifestyle Growth Portfolio	Lifestyle Aggressive Portfolio	$39,049,320	$4,861,895	2,670,510	2,049,192	$6,517,387,239	$6,556,436,559

Because the combined portfolio has been managed as a single integrated portfolio since the reorganization was completed, it is not practicable to separate the amounts of net investment income and gains attributable to the Acquired Portfolio that have been included in the Acquiring Portfolio’s Statement of operations at June 30, 2021. See Note 6 for capital shares issued in connection with the above referenced reorganizations.

Fiscal year ended December 31, 2020, portfolio mergers:

Global Equity Trust (formerly Global Trust). On September 23, 2020, the shareholders of Global Equity Trust (the Acquired Portfolio) voted to approve an Agreement and Plan of Reorganization (the Agreement) which provided for an exchange of shares of Global Equity Trust (the Acquiring Portfolio) with a value equal to the net assets transferred.

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Reorganization, continued

The Agreement provided for (a) the acquisition of all the assets, subject to all of the liabilities, of the Acquired Portfolio in exchange for shares of the Acquiring Portfolio with a value equal to the net assets transferred; (b) the liquidation of the Acquired Portfolio; and (c) the distribution to Acquired Portfolio's shareholders of such Acquiring Portfolio’s shares. The reorganization was intended to achieve a more consistent long-term performance record and stronger prospects for growth and achieve potential opportunities for economies of scale. As a result of the reorganization, the Acquiring Portfolio is the legal and accounting survivor.

The reorganization qualified as a tax-free reorganization for federal income tax purposes with no gain or loss recognized by the Acquired Portfolio or its shareholders. Thus, the investments were transferred to the Acquiring Portfolio at the Acquired Portfolio’s identified cost. All distributable amounts of net income and realized gains from the Acquired Portfolio were distributed prior to the reorganization. In addition, the expenses of the reorganization were borne by the Acquired Portfolio and Acquiring Portfolio in proportion to each portfolio’s net assets. The effective time of the reorganization occurred immediately after the close of regularly scheduled trading on the New York Stock Exchange (NYSE) on November 6, 2020. The following outlines the reorganization:

Acquiring Portfolio	Acquired Portfolio	Net Asset Value of the Acquired Portfolio	Appreciation of the Acquired Portfolio’s Investments	Shares Redeemed by the Acquired Portfolio	Shares Issued by the Acquiring Portfolio	Acquiring Portfolio Net Assets Prior to Combination	Acquiring Portfolio Total Net Assets After Combination
Global Equity Trust (formerly Global Trust)	Global Equity Trust	$144,970,081	$19,686,904	$25,577,990	$7,506,500	$170,945,040	$315,915,121

See Note 6 for capital shares issued in connection with the above referenced reorganizations.

14. LIBOR discontinuation risk

LIBOR (London Interbank Offered Rate) is a measure of the average interest rate at which major global banks can borrow from one another. Following allegations of rate manipulation and concerns regarding its thin liquidity, in July 2017, the U.K. Financial Conduct Authority, which regulates LIBOR, announced that it will stop encouraging banks to provide the quotations needed to sustain LIBOR. As market participants transition away from LIBOR, LIBOR’s usefulness may deteriorate. The transition process may lead to increased volatility and illiquidity in markets that currently rely on LIBOR to determine interest rates. LIBOR’s deterioration may adversely affect the liquidity and/or market value of securities that use LIBOR as a benchmark interest rate.

The ICE Benchmark Administration Limited, the administrator of LIBOR, is expected to cease publishing most LIBOR maturities, including some US LIBOR maturities, on December 31, 2021, and the remaining and most liquid US LIBOR maturities on June 30, 2023. It is expected that market participants will transition to the use of alternative reference or benchmark rates before the end of 2021. Regulators have encouraged the development and adoption of alternative rates such as the Secured Overnight Financing Rate (“SOFR”), which is a broad measure of secured overnight US Treasury repo rates, but there is no definitive information regarding the future utilization of any particular replacement rate.

The impact on the transition away from LIBOR referenced financial instruments remains uncertain. It is expected that market participants will amend such financial instruments to include fallback provisions and other measures that contemplate the discontinuation of LIBOR. To facilitate the transition of legacy derivatives contracts referencing LIBOR, the International Swaps and Derivatives Association, Inc. launched a protocol to incorporate fallback provisions. There are obstacles to converting certain longer term securities to a new benchmark or benchmarks and the effectiveness of one versus multiple alternative reference rates has not been determined. Certain proposed replacement rates, such as SOFR, are materially different from LIBOR, and will require changes to the applicable spreads. Furthermore, the risks associated with the conversion from LIBOR may be exacerbated if an orderly transition is not completed in a timely manner.

15. Coronavirus (COVID-19) pandemic

The novel COVID-19 disease has resulted in significant disruptions to global business activity. A widespread health crisis such as a global pandemic could cause substantial market volatility, exchange trading suspensions and closures, which may lead to less liquidity in certain instruments, industries, sectors or the markets generally, and may ultimately affect portfolio performance.

16. New accounting pronouncement

In March 2020, the Financial Accounting Standards Board (FASB) issued an Accounting Standards Update (ASU), ASU 2020-04, which provides optional, temporary relief with respect to the financial reporting of contracts subject to certain types of modifications due to the planned discontinuation of the LIBOR and other IBOR-based reference rates as of the end of 2021. The temporary relief provided by ASU 2020-04 is effective for certain reference rate-related contract modifications that occur during the period March 12, 2020 through December 31, 2022. Management is currently evaluating the potential impact of ASU 2020-04 to the financial statements.

17. Other matters

Tribune

The Trust and several of its portfolios, including the 500 Index Trust, Equity Income Trust, Mid Value Trust and Total Stock Market Index Trust (the “portfolios”), were named as defendants in a number of adversary proceedings in state and Federal courts across the country arising out of an $8 billion leveraged buyout (“LBO”) transaction in 2007 whereby the Tribune Company (“Tribune”) converted to a privately held company. In Kirchner v. FitzSimons, No.12-2652 (S.D.N.Y.) (the “FitzSimons Action”), the plaintiff alleges that Tribune insiders and shareholders were overpaid for their Tribune stock and is attempting to obtain from former shareholders the proceeds received in connection with the LBO. This claim was brought as a putative defendant class action that names certain shareholders as representatives of a potential class comprised of all Tribune shareholders that tendered their shares in the LBO and received proceeds as a result, including certain John Hancock mutual funds. Certain John Hancock mutual funds received a total of approximately $49 million in connection with the LBO. The total amounts at issue for the 500 Index Trust, Equity Income Trust, Mid Value Trust, and

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Other matters, continued

Total Stock Market Index Trust are approximately $600,000, $30.5 million, $1.8 million, and $114,000, respectively. In addition, a group of Tribune creditors filed fifty three actions in various state and federal courts against former Tribune shareholders asserting state law constructive fraudulent conveyance claims arising out of the 2007 LBO (the “SLCFC Actions”). The FitzSimons Action and the SLCFC Actions have been consolidated with the other LBO-related lawsuits in a multidistrict litigation proceeding captioned in re Tribune Company Fraudulent Conveyance Litigation, No.11-md-2696 (S.D.N.Y.).

As of August 1, 2019, all claims related to this matter have been dismissed. However, two controlling rulings are being appealed- 1) the plaintiffs are seeking U.S. Supreme Court review of the Court of Appeals for the Second Circuit’s dismissal of the plaintiff’s state law constructive fraudulent conveyance claims; and 2) the plaintiffs are appealing the dismissal of the plaintiff’s intentional fraudulent transfer claim against the shareholder defendants. On April 19, 2021, the U.S. Supreme Court rejected the plaintiff’s petition for review; however, the plaintiff’s appeal remains pending the Second Circuit Court of Appeals.

At this time, the portfolios cannot predict the outcome of these proceedings. If the proceeding were to be decided in a manner adverse to the portfolios or if the portfolios enter into a settlement agreement with the plaintiffs, depending upon the circumstances, the payment of such judgement or settlement could have an adverse effect on the portfolios’ net asset value.

The Jones Group

Strategic Equity Allocation Trust, Small Cap Index Trust, Small Cap Opportunities Trust, and other affiliates have been named as defendants in a lawsuit related to The Jones Group, a fashion company. It is alleged that in 2014, The Jones Group consummated a series of transactions that rendered it insolvent, increased debt, significantly decreased its assets, and distributed more than $1 billion to its shareholders, all to the detriment of the company and its creditors. Equivalent lawsuits have been filed in California, New Jersey, Texas, Illinois and Florida. The total amounts at issue for Strategic Equity Allocation Trust, Small Cap Index Trust, and Small Cap Opportunities Trust are approximately $375,000, $320,000, and $191,000, respectively.

On March 30, 2020, the plaintiffs filed a Motion for Transfer of Actions to the District of Massachusetts. The plaintiffs were seeking to consolidate 13 actions in 6 different federal districts against 188 defendants in a Multidistrict Panel in Massachusetts. $550 million is being sought from these 188 defendants. On April 27, 2020, the shareholder defendants filed their response to plaintiffs’ Motion to Transfer. On June 2, 2020, the United States Judicial Panel on Multidistrict Litigation issued a Transfer Order sending all the cases to the Southern District of New York. Accordingly, the litigation will be governed by Second Circuit precedent.

On June 12, 2020, a Scheduling Order was issued. On June 29, 2020, a global Motion to Dismiss Under the Safe Harbor of Section 546(e) of the Bankruptcy Code was filed by the defendants. On August 27, 2020, the Motion to Dismiss was granted. Following the dismissal, appeals were filed by the plaintiffs and are pending.

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Special shareholder meeting (unaudited)

Lifestyle Aggressive Portfolio held a Special Meeting of Shareholders on April 6, 2021. The following proposal was considered by the shareholders:

Proposal: Approval of Agreement and Plan of Reorganization providing for the reorganization of Lifestyle Aggressive Portfolio into Lifestyle Growth Portfolio.

PROPOSAL PASSED ON APRIL 6, 2021.
	SHARES VOTED	% OF SHARES VOTED	% OF OUTSTANDING SHARES
For	1,814,104.305	85.385%	80.855%
Against	146,368.410	6.889%	6.524%
Abstain	164,161.785	7.726%	7.316%

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John Hancock Variable Insurance Trust

Evaluation of Advisory and Subadvisory Agreements by the Board of Trustees

This section describes the evaluation by the Board of Trustees (the Board) of John Hancock Variable Insurance Trust (the Trust) of the Advisory Agreement (the Advisory Agreement) and each Subadvisory Agreement and Sub-Subadvisory Agreement (collectively, the Subadvisory Agreements) with respect to each of the portfolios of the Trust included in this report except those otherwise noted below (the Funds). The Advisory and Subadvisory Agreements are collectively referred to as the Agreements. Prior to the June 22-24, 2021 telephonic meeting¹ at which the Agreements were approved, the Board also discussed and considered information regarding the proposed continuation of the Agreements at a telephonic¹ meeting held on May 25-26, 2021. The Board also receives information relating to the proposed continuation of the agreements noted above throughout the year on an on-going basis. The Trustees who are not “interested persons” of the Trust as defined by the Investment Company Act of 1940, as amended (the “1940 Act”) (the “Independent Trustees”) also met separately to evaluate and discuss the information presented, including with counsel to the Independent Trustees and a third-party consulting firm.

The following Funds are feeder funds, which invest all of their assets in master funds: American Asset Allocation Trust, American Global Growth Trust, American Growth Trust, American Growth-Income Trust and American International Trust. These Funds do not pay an advisory fee at the Fund level and do not have advisory agreements.

Approval of Advisory and Subadvisory Agreements

At telephonic meetings held on June 22-24, 2021, the Board, including the Independent Trustees, reapproved for an annual period, the continuation of the Advisory Agreement between the Trust and the Advisor and the applicable Subadvisory Agreements between the Advisor and the sub-advisors (and sub-subadvisors) (each, a Subadvisor and collectively, the Subadvisors) with respect to each of the Funds in this report, except as noted above.

In considering the Advisory Agreement and the Subadvisory Agreements with respect to each Fund, the Board received in advance of the meetings a variety of materials relating to each Fund, the Advisor and each Subadvisor, including comparative performance, fee and expense information for peer groups of similar funds prepared by an independent third-party provider of fund data; performance information for the Funds’ benchmark indices; and, with respect to each Subadvisor, comparative performance information for comparably managed accounts, as applicable; and other information provided by the Advisor and the Subadvisors regarding the nature, extent and quality of services provided by the Advisor and the Subadvisors under their respective Agreements, as well as information regarding the Advisor’s revenues and costs of providing services to the Funds and any compensation paid to affiliates of the Advisor. At the meetings at which the renewal of the Advisory Agreement and Subadvisory Agreements are considered, particular focus is given to information concerning Fund performance, comparability of fees and total expenses, and profitability. However, the Board noted that the evaluation process with respect to the Advisor and the Subadvisors is an ongoing one. In this regard, the Board also took into account discussions with management and information provided to the Board (including its various committees) at prior meetings with respect to the services provided by the Advisor and the Subadvisors to the Funds, including quarterly performance reports prepared by management containing reviews of investment results, and periodic presentations from the Subadvisors with respect to the Funds they manage. The information received and considered by the Board both in conjunction with the May and June meetings and throughout the year was both written and oral. The Board noted the affiliation of certain of the Subadvisors with the Advisor, noting any potential conflicts of interest. The Board also considered the nature, quality, and extent of the non-advisory services, if any, to be provided to the Funds by the Advisor’s affiliates, including distribution

services. The Board considered the Advisory Agreement and the Subadvisory Agreements separately in the course of its review. In doing so, the Board noted the respective roles of the Advisor and the Subadvisors in providing services to the Funds. In addition, although the Board approved the renewal of the Agreements for all of the Funds at the June meeting, the Board considered each Fund separately.

Throughout the process, the Board asked questions of and requested additional information from management. The Board is assisted by counsel for the Trust and the Independent Trustees are also separately assisted by independent legal counsel throughout the process. The Independent Trustees also received a memorandum from their independent counsel discussing the legal standards for their consideration of the proposed continuation of the Agreements and discussed the proposed continuation of the Agreements in private sessions with their independent legal counsel at which no representatives of management were present.

Approval of Advisory Agreement

In approving the Advisory Agreement with respect to each Fund, the Board, including the Independent Trustees, considered a variety of factors, including those discussed below. The Board also considered other factors (including conditions and trends prevailing generally in the economy, the securities markets and the industry) and did not treat any single factor as determinative, and each Trustee may have attributed different weights to different factors. The Board’s conclusions may be based in part on its consideration of the advisory and subadvisory arrangements in prior years and on the Board’s ongoing regular review of Fund performance and operations throughout the year.

Nature, extent, and quality of services. Among the information received by the Board from the Advisor relating to the nature, extent, and quality of services provided to the Funds, the Board reviewed information provided by the Advisor relating to its operations and personnel, descriptions of its organizational and management structure, and information regarding the Advisor's compliance and regulatory history, including its Form ADV. The Board also noted that on a regular basis it receives and reviews information from the Trust’s Chief Compliance Officer (CCO) regarding the Funds’ compliance policies and procedures established pursuant to Rule 38a-1 under the 1940 Act. The Board observed that the scope of services provided by the Advisor, and of the undertakings required of the Advisor in connection with those services, including maintaining and monitoring its own and the Fund’s compliance programs, risk management programs, liquidity management programs and cybersecurity programs, had expanded over time as a result of regulatory, market and other developments. The Board considered that the Advisor is responsible for the management of the day-to-day operations of the Funds, including but not limited to, general supervision of and coordination of the services provided by the Subadvisors, and is also responsible for monitoring and reviewing the activities of the Subadvisors and other third-party service providers. The Board also considered the significant risks assumed by the Advisor in connection with the services provided to the Funds including entrepreneurial risk in sponsoring new Funds and ongoing risks including investment, operational, enterprise, litigation, regulatory and compliance risks with respect to all Funds.

In considering the nature, extent, and quality of the services provided by the Advisor, the Trustees also took into account their knowledge of the Advisor’s management and the quality of the performance of the Advisor’s duties, through Board meetings, discussions and reports during the preceding year and through each Trustee’s experience as a Trustee of the Trust and of the other trusts in the complex.

¹On June 19, 2020, as a result of health and safety measures put in place to combat the global COVID-19 pandemic, the Securities and Exchange Commission issued an exemptive order (the “Order”) pursuant to Sections 6(c) and 38(a) of the Investment Company Act of 1940, as amended (the “1940 Act”), that temporarily exempts registered investment management companies from the in-person voting requirements under the 1940 Act, subject to certain requirements, including that votes taken pursuant to the Order are ratified at the next in-person meeting. The Board determined that reliance on the Order was necessary or appropriate due to the circumstances related to current or potential effects of COVID-19 and therefore, the Board’s May and June meetings were held telephonically in reliance on the Order. This exemptive order supersedes, in part, a similar, earlier exemptive order issued by the SEC.

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Evaluation of Advisory and Subadvisory Agreements by the Board of Trustees

In the course of their deliberations regarding the Advisory Agreement, the Board considered, among other things:

(a) the skills and competency with which the Advisor has in the past managed the Trust’s affairs and its subadvisory relationships, the Advisor’s oversight and monitoring of the Subadvisors’ investment performance and compliance programs, such as the Subadvisors’ compliance with fund policies and objectives, review of brokerage matters including with respect to trade allocation and best execution, and the Advisor’s timeliness in responding to performance issues;

(b) the background, qualifications and skills of the Advisor’s personnel;

(c) the Advisor’s compliance policies and procedures and its responsiveness to regulatory changes and fund industry developments;

(d) the Advisor’s administrative capabilities, including its ability to supervise the other service providers for the Funds, as well as the Advisor’s oversight of any securities lending activity, its monitoring of class action litigation and collection of class action settlements on behalf of the Funds, and bringing loss recovery actions on behalf of the Funds;

(e) the financial condition of the Advisor and whether it has the financial wherewithal to provide a high level and quality of services to the Funds;

(f) the Advisor’s initiatives intended to improve various aspects of the Trust’s operations and investor experience with the Funds; and

(g) the Advisor’s reputation and experience in serving as an investment advisor to the Trust and the benefit to contract holders of investing in funds that are part of a family of variable insurance portfolios offering a variety of investments.

The Board concluded that the Advisor may reasonably be expected to continue to provide a high quality of services under the Advisory Agreement with respect to the Funds.

Investment performance. In considering each Fund’s performance, the Board noted that it reviews at its regularly scheduled meetings information about the Funds' performance results. In connection with the consideration of the Advisory Agreement, the Board:

(a) reviewed information prepared by management regarding the Funds' performance;

(b) considered the comparative performance of each Fund’s respective benchmark;

(c) considered the performance of comparable funds, if any, as included in the report prepared by an independent third-party provider of fund data; and

(d) took into account the Advisor’s analysis of each Fund’s performance and its plans and recommendations regarding the Trust’s subadvisory arrangements generally and with respect to particular Funds.

The Board noted that while it found the data provided by the independent third-party generally useful it recognized its limitations, including in particular that the data may vary depending on the end date selected and that the results of the performance comparisons may vary depending on the selection of the peer group. The Board concluded that the performance of each of the Funds has generally been in line with or generally outperformed the historical performance of comparable funds based on the median percentile and/or the Fund’s respective benchmark, with certain exceptions noted in Appendix A. In such cases, the Board considered steps the Advisor had taken or plans to take to address performance and concluded that such performance is being monitored and reasonably being addressed.

nature, extent and quality of the management and subadvisory services provided by the Advisor and the Subadvisors. The Board considered each Fund’s ranking within a smaller group of peer funds chosen by the independent third-party provider, as well as the Fund’s ranking within broader groups of funds. In comparing each Fund’s contractual and net management fees to that of comparable funds, the Board noted that such fee includes both advisory and administrative costs.

The Board took into account management’s discussion with respect to the overall management fee, the fees of each Subadvisor, including the amount of the advisory fee retained by the Advisor after payment of the subadvisory fees, in each case in light of the services rendered for those amounts and the risks undertaken by the Advisor. The Board also noted that, in addition, the Advisor is currently waiving fees and/or reimbursing expenses with respect to certain of the Funds. The Board also noted that the Advisor pays the subadvisory fees of the Funds, and that such fees are negotiated at arm’s length with respect to unaffiliated Subadvisors. In addition, the Board noted that the Advisor continued advisory and subadvisory fee reductions in the past year with respect to several Funds. The Board also took into account that management had agreed to implement an overall fee waiver across the complex, which is discussed further below. The Board also noted management’s discussion of the Funds’ expenses, as well as certain actions taken over the past several years to reduce the Funds’ operating expenses. The Board reviewed information provided by the Advisor concerning investment advisory fees charged to other clients (including other funds in the complex) having similar investment mandates, if any. The Board considered any differences between the Advisor’s and Subadvisor’s services to a Fund and the services they provide to other such comparable clients or funds. The Board concluded that the advisory fee paid with respect to each of the Funds is reasonable in light of the nature, extent and quality of the services provided to the Funds under the Advisory Agreement.

In addition, in the case of each Lifestyle Portfolio (each a Fund of Funds), the Trustees reviewed the advisory fee to be paid to the Advisor for each Fund of Funds and concluded that the advisory fee to be paid to the Advisor with respect to each Fund of Funds is based on services provided that are in addition to, rather than duplicative of, the services provided pursuant to the advisory agreements for the underlying portfolios of the Fund of Funds and that the additional services are necessary because of the differences between the investment policies, strategies and techniques of a Fund of Funds and those of its underlying portfolios.

Profitability/Fall out benefits. In considering the costs of the services to be provided and the profits to be realized by the Advisor and its affiliates (including the Subadvisors that are affiliated with the Advisor) from the Advisor’s relationship with the Trust, the Board:

(a) reviewed financial information of the Advisor;

(b) reviewed and considered (i) information presented by the Advisor regarding the net profitability to the Advisor and its affiliates, of each Fund; and (ii) the representation by the John Hancock insurance companies in registration statements for registered variable insurance contracts using the Funds as investment options in registered separate accounts, that the fees and charges deducted under their variable insurance contracts (including the fees and expenses of the Trust), in the aggregate, are reasonable in relation to the services rendered, the expenses expected to be incurred and the risks assumed by such companies;

(c) received and reviewed profitability information with respect to the John Hancock fund complex as a whole and with respect to each Fund;

(d) received information with respect to the Advisor’s allocation methodologies used in preparing the profitability data and considered that the Advisor hired an independent third-party consultant to provide an analysis of the Advisor’s allocation methodologies;

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Evaluation of Advisory and Subadvisory Agreements by the Board of Trustees

their separate accounts, receive certain tax credits or deductions relating to foreign taxes paid and dividends received by certain Funds of the Trust and noted that these tax benefits, which are not available to contract holders under applicable income tax law, are reflected in the profitability analysis reviewed by the Board;

(f) considered that the Advisor also provides administrative services to the Funds on a cost basis pursuant to an administrative services agreement;

(g) noted that certain of the Funds’ Subadvisors are affiliates of the Advisor;

(h) noted that affiliates of the Advisor provide distribution services to the Funds, and that the Trust’s distributor also receives Rule 12b-1 payments to support distribution of the products;

(i) noted that the Advisor also derives reputational and other indirect benefits from providing advisory services to the Funds;

(j) noted that the subadvisory fees for the Funds are paid by the Advisor and are negotiated at arm’s length with respect to the unaffiliated Subadvisors;

(k) with respect to each Fund of Funds, the Board noted that the advisory fee is in addition to the fees received by the Advisor and its affiliates with regard to the underlying portfolios in which the Funds may invest;

(l) considered the Advisor’s ongoing costs and expenditures necessary to improve services, meet new regulatory and compliance requirements, and adapt to other challenges impacting the fund industry; and

(m) considered that the Advisor should be entitled to earn a reasonable level of profits in exchange for the level of services it provides to each Fund and the risks that it assumes as Advisor, including entrepreneurial, operational, reputational, litigation and regulatory risk.

Based upon its review, the Board concluded that the level of profitability, if any, of the Advisor and its affiliates (including any Subadvisors that are affiliated with the Advisor), from their relationship with each Fund was reasonable and not excessive.

Economies of scale. In considering the extent to which economies of scale would be realized as a Fund grows and whether fee levels reflect these economies of scale for the benefit of Fund shareholders, the Board:

(a) with respect to each Fund (except those discussed specifically below), considered that the Advisor has agreed to waive a portion of its management fee for such Fund and for each of the other John Hancock funds in the complex (except as discussed below) (the Participating Portfolios) or otherwise reimburse the expenses of the Participating Portfolios (the Reimbursement). This waiver is based on the aggregate net assets of all the Participating Portfolios. The Board also noted that the Advisor had implemented additional breakpoints to the complex-wide fee waiver in recent years;
(The Funds that are not Participating Portfolios as of the date of this annual report are each of the funds of funds of the Trust and John Hancock Funds II and John Hancock Collateral Trust. These funds of funds also benefit from such overall management fee waiver through their investment in underlying portfolios that include certain of the Participating Portfolios, which are subject to the Reimbursement.)

(b) reviewed the Trust’s advisory fee structure and the incorporation therein of any subadvisory fee breakpoints in the advisory fees charged and concluded that (i) most of the Funds’ fee structures contain breakpoints at the subadvisory fee level and that such breakpoints are reflected as breakpoints in the advisory fees for Funds and (ii) although economies of scale cannot be measured with precision, these arrangements permit shareholders of Funds with advisory fee breakpoints to benefit from economies of scale if those Funds grow. The Board also took into account management’s discussion of the Funds’ advisory fee structure, including with respect to those Funds that did not currently have breakpoints; and

(c) the Board also considered the effect of the Funds’ growth in size on their performance and fees. The Board also noted that if the Funds’ assets increase over time, the Funds may realize other economies of scale.

Approval of Subadvisory Agreements

In making its determination with respect to approval of the Subadvisory Agreements, the Board reviewed:

(1)	information relating to the Subadvisor’s business, including current subadvisory services to the Trust (and other funds in the John Hancock group of funds);
(2)	the historical and current performance of the fund and comparative performance information relating to the Fund’s benchmark and comparable funds based on the median percentile;
(3)	the subadvisory fee for each Fund, including any breakpoints, and comparative fee information, where available, prepared by an independent third-party provider of fund data; and
(4)	information relating to the nature and scope of any material relationships and their significance to the Trust’s Advisor and Subadvisors.

Nature, extent, and quality of services. With respect to the services provided by each of the Subadvisors with respect to each Fund, the Board received information provided to the Board by each Subadvisor, including each Subadvisor’s Form ADV, as well as took into account information presented throughout the past year. The Board considered each Subadvisor’s current level of staffing and its overall resources, as well as received information relating to a Subadvisor’s compensation program. The Board reviewed each Subadvisor’s history and investment experience, as well as information regarding the qualifications, background and responsibilities of the Subadvisor’s investment and compliance personnel who provide services to the Funds. The Board also considered, among other things, the Subadvisor’s compliance program and any disciplinary history. The Board also considered the Subadvisor’s risk assessment and monitoring process.The Board reviewed each Subadvisor’s regulatory history, including whether it was currently involved in any regulatory actions or investigations as well as material litigation, and any settlements and amelioratory actions undertaken, as appropriate. The Board noted that the Advisor conducts regular, periodic reviews of each Subadvisor and its operations, including regarding investment processes and organizational and staffing matters. The Board also noted that the CCO and his staff conduct regular, periodic compliance reviews with each of the Subadvisors and present reports to the Independent Trustees regarding the same, which includes evaluating the regulatory compliance systems of the Subadvisors and procedures reasonably designed by them to assure compliance with the federal securities laws. The Board also took into account the financial condition of each Subadvisor.

The Board considered each Subadvisor’s investment process and philosophy. The Board took into account that each Subadvisor’s responsibilities include the development and maintenance of an investment program for the applicable Fund which is consistent with the Fund’s investment objectives, the selection of investment securities and the placement of orders for the purchase and sale of such securities, as well as the implementation of compliance controls related to performance of these services. The Board also received information with respect to each Subadvisor’s brokerage policies and practices, including with respect to best execution and soft dollars.

Subadvisor compensation. In considering the cost of services to be provided by each Subadvisor and the profitability to that Subadvisor of its relationship with the Fund, the Board noted that the feesunder the Subadvisory Agreements are paid by the Advisor and not the Funds. The Board also relied on the ability of the Advisor to negotiate each Subadvisory Agreement with Subadvisors that are not affiliated with the Advisor and the fees thereunder at arm’s length. As a result, the costs of the services to be provided and the profits to be realized by unaffiliated Subadvisors from their relationship with the Trust were not a material factor in the Board’s consideration of the Subadvisory Agreements.

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Evaluation of Advisory and Subadvisory Agreements by the Board of Trustees

Subadvisors, which include arrangements in which unaffiliated Subadvisors or their affiliates provide advisory, distribution or management services in connection with financial products sponsored by the Trust’s Advisor or its affiliates, and may include shares of the Trust, other registered investment companies, a 529 education savings plan, managed separate accounts and exempt group annuity contracts sold to qualified plans. The Board also received information and took into account any other potential conflicts of interests the Advisor might have in connection with the Subadvisory Agreements.

In addition, the Board considered other potential indirect benefits that the Subadvisors and their affiliates may receive from the Subadvisor’s relationship with the Fund, such as the opportunity to provide advisory services to additional portfolios of the Trusts and reputational benefits.

Subadvisory fees. The Board considered that the Fund pays an advisory fee to the Advisor and that, in turn, the Advisor pays a subadvisory fee to each Subadvisor. As noted above, the Board also considered, if available, each Fund’s sub-advisory fees as compared to similarly situated investment companies deemed to be comparable to the Fund as included in the report prepared by the independent third party provider of fund data. The Board also took into account the sub-advisory fees paid by the Advisor to fees charged by each Fund’s Subadvisor to manage other sub-advised portfolios and portfolios not subject to regulation under the 1940 Act, as applicable.

Subadvisor performance. As noted above, the Board considered each Fund’s performance as compared to the Fund’s respective peer group based on the median percentile and benchmark and noted that the Board reviews information about the Fund’s performance results at its regularly scheduled meetings. The Board noted the Advisor’s expertise and resources in monitoring the performance, investment style, and risk-adjusted performance of each Subadvisor. The Board was mindful of the Advisor’s focus on each Subadvisor’s performance. The Board also noted each Subadvisor’s long-term performance record for similar accounts, as applicable.

The Board’s decision to approve the Subadvisory Agreement with respect to each Fund was based on a number of determinations, including the following:

(1)	Each Subadvisor has extensive experience and demonstrated skills as a manager;
(2)	Although not without variation, the performance of each Fund managed by a Subadvisor generally has been in line with or outperformed the

	historical performance of comparable funds and the Fund’s respective benchmarks based on the median percentile, with the exceptions noted in Appendix A (with respect to such exceptions, the Board considered the steps the Subadvisor had taken or plans to take to address performance and concluded that performance is being monitored and reasonably being addressed);
(3)	The subadvisory fees are reasonable in relation to the level and quality of services being provided under the Subadvisory Agreement; and
(4)	With respect to those Funds that have subadvisory fees that contain breakpoints, certain breakpoints are reflected as breakpoints in the advisory fees for the Funds in order to permit shareholders to benefit from economies of scale if those Funds grow.

In addition, in the case of each Fund of Funds, the Trustees reviewed the subadvisory fee to be paid to the Subadvisor for the Fund of Funds and concluded that the subadvisory fee to be paid to the Subadvisor with respect to each Fund of Funds is based on services provided that are in addition to, rather than duplicative of, the services provided pursuant to the advisory agreements and subadvisory agreements for the underlying portfolios of the Fund of Funds and that the additional services are necessary because of the differences between the investment policies, strategies and techniques of a Fund of Funds and those of its underlying portfolios.

Additional information relating to each Fund’s fees and expenses and performance that the Board considered in approving the Advisory Agreement and Subadvisory Agreement for a particular Fund is set forth in Appendix A.

***

Based on their evaluation of all factors that they deemed to be material, including those factors described above, the Board, including the Independent Trustees, concluded that renewal of the Advisory Agreement and each of the Subadvisory Agreements with respect to each Fund would be in the best interest of each of the respective Funds and its shareholders. Accordingly, the Board, and the Independent Trustees voting separately, approved the Advisory Agreement and Subadvisory Agreement with respect to each Fund for an additional one-year period.

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Appendix A

Portfolio (Subadviser)	Performance as of 12/31/2020	Fees and Expenses	Comments
500 Index Trust (Manulife Investment Management (North America) Limited)	Benchmark Index – The Trust underperformed the benchmark index for the one-, three-, five- and ten-year periods. Broadridge Category – The Trust outperformed the peer group median for the one-, three-, five- and ten-year periods.	The subadviser fees for this Trust are equal to the peer group median. Net management fees for this Trust are higher than the peer group median. Net total expenses for this Trust are lower than the peer group median.	The Board took into account management’s discussion of the factors that contributed to the Trust’s performance for the one-, three-, five-and ten-year periods relative to the benchmark index. The Board noted the Trust’s favorable performance relative to the peer group median for the one-, three-, five- and ten-year periods. The Board also noted the Trust’s low performance dispersion relative to its benchmark index. The Board took into account management’s discussion of the Trust’s expenses. The Board noted the Trust’s total net expenses are lower than the peer group median.
Blue Chip Growth Trust (T. Rowe Price Associates, Inc.)	Benchmark Index – The Trust outperformed the benchmark index for the one-, three-, five- and ten-year periods. Broadridge Category – The Trust underperformed the peer group median for the one- and three-year periods and outperformed the peer group median for the five- and ten-year periods.	The subadviser fees for this Trust are higher than the peer group median. Net management fees for this Trust are higher than the peer group median. Net total expenses for this Trust are lower than the peer group median.	The Board took into account management’s discussion of the factors that contributed to the Trust’s performance for the one- and three-year periods relative to the peer group median. The Board noted the Trust’s favorable performance relative to the benchmark index for the one-, three-, five- and ten-year periods and to the peer group median for the five- and ten-year periods. The Board took into account management’s discussion of the Trust’s expenses. The Board noted the Trust’s total net expenses are lower than the peer group median.
Capital Appreciation Trust (Jennison Associates LLC)	Benchmark Index – The Trust outperformed the benchmark index for the one-, three-, five- and ten-year periods. Broadridge Category – The Trust outperformed the peer group median for the one-, three-, five- and ten-year periods.	Limited comparative subadviser fee data was provided due to the limited number of Broadridge peer funds. Net management fees for this Trust are higher than the peer group median. Net total expenses for this Trust are lower than the peer group median.	The Board noted the Trust’s favorable performance relative to the benchmark index and to the peer group median for the one-, three-, five- and ten-year periods. The Board took into account management’s discussion of the Trust’s expenses. The Board noted the Trust’s total net expenses are lower than the peer group median.

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Appendix A

Portfolio (Subadviser)	Performance as of 12/31/2020	Fees and Expenses	Comments
Capital Appreciation Value Trust (T. Rowe Price Associates, Inc.)	Benchmark Index – The Trust outperformed the benchmark index for the one-, three-, five- and ten-year periods. Broadridge Category – The Trust outperformed the peer group median for the one-, three-, five- and ten-year periods.	The subadviser fees for this Trust are higher than the peer group median. Net management fees for this Trust are higher than the peer group median. Net total expenses for this Trust are higher than the peer group median.	The Board noted the Trust’s favorable performance relative to the benchmark index and to the peer group median for the one-, three-, five- and ten-year periods. The Board took into account management’s discussion of the Trust’s expenses.
Disciplined Value International Trust (Boston Partners Global Investors, Inc.)	Benchmark Index – The Trust underperformed the benchmark index for the one-, three-, five- and ten-year periods. Broadridge Category – The Trust outperformed the peer group median for the one- and five-year periods and underperformed the peer group median for the three- and ten-year periods.	The subadviser fees for this Trust are higher than the peer group median. Net management fees for this Trust are higher than the peer group median. Net total expenses for this Trust are lower than the peer group median.	The Board took into account management’s discussion of the factors that contributed to the Trust’s performance for the one-, three-, five- and ten- periods relative to the benchmark index and to the peer group median for the three- and ten-year periods. The Board noted the Trust’s favorable performance relative to the peer group median for the one- and five-year periods. The Board took into account management’s discussion of the Trust’s expenses. The Board noted the Trust’s total net expenses are lower than the peer group median. The Board noted that the Trust outperformed its Morningstar peer group and benchmark index for the year-to-date period ended April 30, 2021.
Emerging Markets Value Trust (Dimensional Fund Advisors LP)	Benchmark Index – The Trust underperformed the benchmark index for the one-, three-, five- and ten-year periods. Broadridge Category – The Trust underperformed the peer group median for the one-, three-, five- and ten-year periods.	The subadviser fees for this Trust are lower than the peer group median. Net management fees for this Trust are higher than the peer group median. Net total expenses for this Trust are higher to the peer group median.	The Board took into account management’s discussion of the factors that contributed to the Trust’s performance for the one-, three-, five- and ten-year periods relative to the benchmark index and to the peer group median including the impact of past and current market conditions on the Trust’s strategy and management’s plans for the Trust. The Board noted that the Trust outperformed its Morningstar peer group and benchmark index for the year-to-date period ended April 30, 2021. The Board took into account management’s discussion of the Trust’s expenses.

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Appendix A

Portfolio (Subadviser)	Performance as of 12/31/2020	Fees and Expenses	Comments
Equity Income Trust (T. Rowe Price Associates, Inc.)	Benchmark Index – The Trust underperformed the benchmark index for the one-, three- and ten-year periods and outperformed the benchmark index for the five-year period. Broadridge Category – The Trust underperformed the peer group median for the one-, three- and ten-year periods and outperformed the peer group median for the five-year period.	Limited comparative subadviser fee data was provided due to the limited number of Broadridge peer funds. Net management fees for this Trust are higher than the peer group median. Net total expenses for this Trust are lower than the peer group median.	The Board took into account management’s discussion of the factors that contributed to the Trust’s performance for the one-, three- and ten-year periods relative to the benchmark index and to the peer group median including the impact of past and current market conditions on the Fund’s strategy and management’s outlook for the Fund. The Board noted the Trust’s favorable performance relative to the benchmark index and to the peer group median for the five-year period. The Board noted that the Trust outperformed its Morningstar peer group and benchmark index for the year-to-date period ended April 30, 2021. The Board took into account management’s discussion of the Trust’s expenses. The Board noted the Trust’s total net expenses are lower than the peer group median.
Financial Industries Trust (Manulife Investment Management (US) LLC)	Benchmark Index – The Trust outperformed the benchmark index for the one- and three-year periods and underperformed the benchmark index for the five- and ten-year periods. Broadridge Category – The Trust outperformed the peer group median for the one-, three- and five-year periods and underperformed the peer group median for the ten-year period.	Subadviser fee comparative data not provided due to limited size of Broadridge peer group for this purpose. Net management fees for this Trust are higher than the peer group median. Net total expenses for this Trust are higher than the peer group median.	The Board took into account management’s discussion of the factors that contributed to the Trust’s performance for the five- and ten-year periods relative to the benchmark index and to the peer group median for the ten-year period. The Board noted the Trust’s favorable performance relative to the benchmark index for the one- and three-year periods and to the peer group median for the one-, three- and five-year periods. The Board took into account management’s discussion of the Trust’s expenses.

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Appendix A

Portfolio (Subadviser)	Performance as of 12/31/2020	Fees and Expenses	Comments
Fundamental All Cap Core Trust (Manulife Investment Management (US) LLC)	Benchmark Index – The Trust outperformed the benchmark index for the one-, three-, five- and ten-year periods. Broadridge Category – The Trust underperformed the peer group median for the one-, three-, five- and ten-year periods.	The subadviser fees for this Trust are higher than the peer group median. Net management fees for this Trust are higher than the peer group median. Net total expenses for this Trust are lower than the peer group median.	The Board took into account management’s discussion of the factors that contributed to the Trust’s performance for the one-, three-, five- and ten-year periods relative to the peer group. The Board noted the Trust’s favorable performance relative to the benchmark index for the one-, three-, five- and ten-year periods. The Board noted that the Trust outperformed its Morningstar peer group and benchmark index for the year-to-date period ended April 30, 2021. The Board took into account management’s discussion of the Trust’s expenses. The Board noted the Trust’s total net expenses are lower than the peer group median.
Fundamental Large Cap Value Trust (Manulife Investment Management (US) LLC)	Benchmark Index – The Trust outperformed the benchmark index for the one-, three-, five- and ten-year periods. Broadridge Category – The Trust outperformed the peer group median for the one-, three-, five- and ten-year periods.	Limited comparative subadviser fee data was provided due to the limited number of Broadridge peer funds. Net management fees for this Trust are higher than the peer group median. Net total expenses for this Trust are lower than the peer group median.	The Board noted the Trust’s favorable performance relative to the benchmark index and to the peer group median for the one-, three-, five- and ten-year periods. The Board took into account management’s discussion of the Trust’s expenses. The Board noted the Trust’s total net expenses are lower than the peer group median.
Global Equity Trust (formerly Global Trust) (Manulife Investment Management (US) LLC)	Benchmark Index – The Trust underperformed the benchmark index for the one-, three-, five- and ten-year periods. Broadridge Category – The Trust underperformed the peer group median for the one-, three-, five- and ten-year periods.	Limited comparative subadviser fee data was provided due to the limited number of Broadridge peer funds. Net management fees for this Trust are higher than the peer group median. Net total expenses for this Trust are equal to the peer group median.	The Board took into account management’s discussion of the factors that contributed to the Trust’s performance for the one-, three-, five- and ten-year periods relative to the benchmark index and to the peer group median including the impact of past and current market conditions on the Fund’s strategy and management’s outlook for the Fund. The Board took into account management’s discussion of the Trust’s expenses. The Board noted the Trust’s total net expenses are equal to the peer group median.

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Appendix A

Portfolio (Subadviser)	Performance as of 12/31/2020	Fees and Expenses	Comments
Health Sciences Trust (T. Rowe Price Associates, Inc.)	Benchmark Index – The Trust underperformed the benchmark index for the one-, three- and five-year periods and outperformed the index for the ten-year period. Broadridge Category – The Trust outperformed the peer group median for the one-, three-, five- and ten-year periods.	Limited comparative subadviser fee data was provided due to the limited number of Broadridge peer funds. Net management fees for this Trust are higher than the peer group median. Net total expenses for this Trust are higher than the peer group median.	The Board took into account management’s discussion of the factors that contributed to the Trust’s performance for the one-, three- and five-year periods relative to the benchmark index. The Board noted the Trust’s favorable performance relative to the benchmark index for the ten-year period and to the peer group median for the one-, three-, five- and ten-year periods. The Board noted that the Trust outperformed its benchmark index for the year-to-date period ended April 30, 2021. The Board took into account management’s discussion of the Trust’s expenses.
International Equity Index Trust (SSGA Funds Management, Inc.)	Benchmark Index – The Trust underperformed the benchmark index for the one- and ten-year periods and equaled the benchmark index for the three- and five-year periods. Broadridge Category – The Trust outperformed the peer group median for the one-, three- and five-year periods and underperformed the peer group median for the ten-year period.	The subadviser fees for this Trust are equal to the peer group median. Net management fees for this Trust are lower than the peer group median. Net total expenses for this Trust are lower than the peer group median.	The Board took into account management’s discussion of the factors that contributed to the Trust’s performance for the one- and ten-year periods relative to the benchmark index and to the peer group median for the ten-year period. The Board noted the Trust’s favorable performance relative to the benchmark index for the three- and five- year periods and to the peer group median for the one-, three- and five-year periods. The Board also noted the Trust’s low performance dispersion relative to its benchmark index. The Board noted the Trust’s net management fees and net total expenses are lower than the peer group

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Appendix A

Portfolio (Subadviser)	Performance as of 12/31/2020	Fees and Expenses	Comments
International Small Company Trust (Dimensional Fund Advisors LP)	Benchmark Index – The Trust underperformed the benchmark index for the one-, three-, five- and ten-year periods. Broadridge Category – The Trust underperformed the peer group median for the one- and ten-year periods, and outperformed the peer group median for the three- and five-year periods.	Limited comparative subadviser fee data was provided due to the limited number of Broadridge peer funds. Net management fees for this Trust are higher than the peer group median. Net total expenses for this Trust are higher than the peer group median.	The Board took into account management’s discussion of the factors that contributed to the Trust’s performance for the one-, three-, five- and ten-year periods relative to the benchmark index, and the one- and ten-year periods relative to the peer group median. The Board noted the Trust’s favorable performance relative to the peer group median for the three- and five-year periods. The Board noted that the Trust outperformed its benchmark index for the year-to-date period ended April 30, 2021. The Board took into account management’s discussion of the Trust’s expenses.
Lifestyle Balanced Portfolio (Manulife Investment Management (US) LLC)	Benchmark Index – The Trust underperformed the benchmark index for the one-, three- and five-year periods. Broadridge Category – The Trust outperformed the peer group median for the one-, three- and five-year periods.	Limited comparative subadviser fee data was provided due to the limited number of Broadridge peer funds. Net management fees for this Trust are lower than the peer group median. Net total expenses for this Trust are lower than the peer group median.	The Board took into account management’s discussion of the factors that contributed to the Trust’s performance for the one-, three- and five-year periods relative to the benchmark index. The Board noted the Trust’s favorable performance relative to the peer group median for the one-, three- and five-year periods. The Board noted that the Trust outperformed its Morningstar peer group and benchmark index for the year-to-date period ended April 30, 2021. The Board noted the Trust’s net management fees and net total expenses are lower than the peer group median.

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Portfolio (Subadviser)	Performance as of 12/31/2020	Fees and Expenses	Comments
Lifestyle Conservative Portfolio (Manulife Investment Management (US) LLC)	Benchmark Index – The Trust outperformed the benchmark index for the one-year period and underperformed the benchmark index for the three- and five-year periods. Broadridge Category – The Trust outperformed the peer group median for the one-, three- and five-year periods.	Limited comparative subadviser fee data was provided due to the limited number of Broadridge peer funds. Net management fees for this Trust are lower than the peer group median. Net total expenses for this Trust are lower than the peer group median.	The Board took into account management’s discussion of the factors that contributed to the Trust’s performance for the three- and five-year periods relative to the benchmark index. The Board noted the Trust’s favorable performance relative to the benchmark index for the one-year period and to the peer group median for the one-, three- and five-year periods. The Board noted that the Trust outperformed its benchmark index for the year-to-date period ended April 30, 2021. The Board noted the Trust’s net management fees and net total expenses are lower than the peer group median.
Lifestyle Growth Portfolio (Manulife Investment Management (US) LLC)	Benchmark Index – The Trust underperformed the benchmark index for the one-, three- and five-year periods. Broadridge Category – The Trust outperformed the peer group median for the one-, three- and five-year periods.	Limited comparative subadviser fee data was provided due to the limited number of Broadridge peer funds. Net management fees for this Trust are lower than the peer group median. Net total expenses for this Trust are lower than the peer group median.	The Board took into account management’s discussion of the factors that contributed to the Trust’s performance for the one-, three- and five-year periods relative to the benchmark index. The Board noted the Trust’s favorable performance relative to the peer group median for the one-, three- and five-year periods. The Board noted that the Trust outperformed its Morningstar peer group and benchmark index for the year-to-date period ended April 30, 2021. The Board noted the Trust’s net management fees and net total expenses are lower than the peer group median.

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Appendix A

Portfolio (Subadviser)	Performance as of 12/31/2020	Fees and Expenses	Comments
Lifestyle Moderate Portfolio (Manulife Investment Management (US) LLC)	Benchmark Index – The Trust underperformed the benchmark index for the one-, three- and five-year periods. Broadridge Category – The Trust outperformed the peer group median for the one-, three- and five-year periods.	Limited comparative subadviser fee data was provided due to the limited number of Broadridge peer funds. Net management fees for this Trust are lower than the peer group median. Net total expenses for this Trust are lower than the peer group median.	The Board took into account management’s discussion of the factors that contributed to the Trust’s performance for the one-, three-, and five-year periods relative to the benchmark index. The Board noted the Trust’s favorable performance relative to the peer group median for the one-, three- and five-year periods. The Board noted that the Trust outperformed its benchmark index for the year-to-date period ended April 30, 2021. The Board noted the Trust’s net management fees and net total expenses are lower than the peer group median.
Mid Cap Index Trust (Manulife Investment Management (North America) Limited)	Benchmark Index – The Trust underperformed the benchmark index for the one-, three-, five- and ten-year periods. Broadridge Category – The Trust outperformed the peer group median for the one-, three-, five- and ten-year periods.	The subadviser fees for this Trust are equal to the peer group median. Net management fees for this Trust are higher than the peer group median. Net total expenses for this Trust are lower than the peer group median.	The Board took into account management’s discussion of the factors that contributed to the Trust’s performance for the one-, three-, five-and ten-year periods relative to the benchmark index. The Board noted the Trust’s favorable performance relative to the peer group median for the one-, three-, five- and ten-year periods. The Board noted that the Trust outperformed its Morningstar peer group for the year-to-date period ended April 30, 2021. The Board also noted the Trust’s low performance dispersion relative to its benchmark index. The Board took into account management’s discussion of the Trust’s expenses. The Board noted the Trust’s total net expenses are lower than the peer group median.

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Appendix A

Portfolio (Subadviser)	Performance as of 12/31/2020	Fees and Expenses	Comments
Mid Cap Stock Trust (Wellington Management Company LLP)	Benchmark Index – The Trust outperformed the benchmark index for the one-, three-, five- and ten-year periods. Broadridge Category – The Trust outperformed the peer group median for the one-, three-, five- and ten-year periods.	The subadviser fees for this Trust are equal to the peer group median. Net management fees for this Trust are higher than the peer group median. Net total expenses for this Trust are lower than the peer group median.	The Board noted the Trust’s favorable performance relative to the benchmark index and to the peer group median for the one-, three-, five- and ten-year periods. The Board took into account management’s discussion of the Trust’s expenses. The Board noted the Trust’s total net expenses are lower than the peer group median. The Board noted that the Trust outperformed its Morningstar peer group and benchmark index for the year-to-date period ended April 30, 2021.
Mid Value Trust (T. Rowe Price Associates, Inc.)	Benchmark Index – The Trust outperformed the benchmark index for one- and five-year periods underperformed the benchmark index for the three- and ten-year periods. Broadridge Category – The Trust outperformed the peer group median for the one-, three-, five- and ten-year periods.	Limited comparative subadviser fee data was provided due to the limited number of Broadridge peer funds. Net management fees for this Trust are higher than the peer group median. Net total expenses for this Trust are equal to the peer group median.	The Board took into account management’s discussion of the factors that contributed to the Trust’s performance for the three- and ten-year periods relative to the benchmark index. The Board noted the Trust’s favorable performance relative to the benchmark index for the one-and five-year periods and to the peer group median for the one-, three-, five- and ten-year periods. The Board took into account management’s discussion of the Trust’s expenses. The Board noted the Trust’s total net expenses are equal to the peer group median.
Real Estate Securities Trust (Wellington Management Company LLP)	Benchmark Index – The Trust outperformed the benchmark index for the one-, three-, five- and ten-year periods. Broadridge Category – The Trust outperformed the peer group median for the three-, five- and ten-year periods and underperformed the peer group median for the one-year period.	The subadviser fees for this Trust are lower than the peer group median. Net management fees for this Trust are lower than the peer group median. Net total expenses for this Trust are lower than the peer group median.	The Board took into account management’s discussion of the factors that contributed to the Trust’s performance for the one-year period relative to the peer group median. The Board noted the Trust’s favorable performance relative to the benchmark index for the one-, three-, five- and ten-year periods and to the peer group median for the three-, five, and ten-year periods. The Board noted that the Trust outperformed its Morningstar peer group for the year-to-date period ended April 30, 2021. The Board noted the Trust’s net management fees and net total expenses are lower than the peer group median.

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Appendix A

Portfolio (Subadviser)	Performance as of 12/31/2020	Fees and Expenses	Comments
Science & Technology Trust (Allianz Global Investors U.S. LLC and T. Rowe Price Associates, Inc.)	Benchmark Index – The Trust outperformed the benchmark index for the one-, three-, five- and ten-year periods. Broadridge Category – The Trust outperformed the peer group median for the one-, three-, five- and ten-year periods.	Limited comparative subadviser fee data was provided due to the limited number of Broadridge peer funds. Net management fees for this Trust are higher than the peer group median. Net total expenses for this Trust are equal to the peer group median.	The Board noted the Trust’s favorable performance relative to the benchmark index and to the peer group median for the one-, three, five- and ten-year periods. The Board took into account management’s discussion of the Trust’s expenses. The Board noted the Trust’s net management fees are equal to than the peer group median.
Small Cap Index Trust (Manulife Investment Management (North America) Limited)	Benchmark Index – The Trust underperformed the benchmark index for the one-, three-, five- and ten-year periods. Broadridge Category – The Trust outperformed the peer group median for the one-, three-, five- and ten-year periods.	The subadviser fees for this Trust are equal to the peer group median. Net management fees for this Trust are higher than the peer group median. Net total expenses for this Trust are lower than the peer group median.	The Board took into account management’s discussion of the factors that contributed to the Trust’s performance for the one-, three-, five-and ten-year periods relative to the benchmark index. The Board noted the Trust’s favorable performance relative to the peer group median for the one-, three-, five- and ten-year periods. The Board also noted the Trust’s low performance dispersion relative to its benchmark index. The Board took into account management’s discussion of the Trust’s expenses. The Board noted the Trust’s total net expenses are lower than the peer group median.
Small Cap Opportunities Trust (GW&K Investment Management, LLC and Dimensional Fund Advisors LP)	Benchmark Index – The Trust underperformed the benchmark index for the one-, three-, five- and ten-year periods. Broadridge Category – The Trust underperformed the peer group median for the one-, three-, five- and ten-year periods.	Limited comparative subadviser fee data was provided due to the limited number of Broadridge peer funds. Net management fees for this Trust are higher than the peer group median. Net total expenses for this Trust are lower than the peer group median.	The Board took into account management’s discussion of the factors that contributed to the Trust’s performance for the one-, three-, five- and ten-year periods relative to the benchmark index and to the peer group median including the impact of past and current market conditions on the Trust’s strategy and management’s outlook for the Trust. The Board noted that the Trust outperformed its Morningstar peer group and benchmark index for the year-to-date period ended April 30, 2021. The Board took into account management’s discussion of the Trust’s expenses. The Board noted the Trust’s total net expenses are lower than the peer group median.

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Appendix A

Portfolio (Subadviser)	Performance as of 12/31/2020	Fees and Expenses	Comments
Small Cap Stock Trust (Wellington Management Company LLP)	Benchmark Index – The Trust outperformed the benchmark index for the one-, three-, five- and ten-year periods. Broadridge Category – The Trust outperformed the peer group median for the one-, three-, five- and ten-year periods.	The subadviser fees for this Trust are higher than the peer group median. Net management fees for this Trust are higher than the peer group median. Net total expenses for this Trust are equal to the peer group median.	The Board noted the Trust’s favorable performance relative to the benchmark index and to the peer group median for the one-, three-, five- and ten-year periods. The Board took into account management’s discussion of the Trust’s expenses. The Board noted the Trust’s total net expenses are equal to the peer group median.
Small Cap Value Trust (Wellington Management Company LLP)	Benchmark Index – The Trust underperformed the benchmark index for the one-, three-, five- and ten-year periods. Broadridge Category – The Trust underperformed the peer group median for the one-, three-, five- and ten-year periods.	Limited comparative subadviser fee data was provided due to the limited number of Broadridge peer funds. Net management fees for this Trust are higher than the peer group median. Net total expenses for this Trust are higher than the peer group median.	The Board took into account management’s discussion of the factors that contributed to the Trust’s performance for the one-, three-, five- and ten-year periods relative to the benchmark index and to the peer group median including the impact of past and current market conditions on the Fund’s strategy and management’s plans for the Fund. The Board took into account management’s discussion of the Trust’s expenses, including the impact of the Trust’s investments in business development companies on the Trust’s expenses.
Small Company Value Trust (T. Rowe Price Associates, Inc.)	Benchmark Index – The Trust outperformed the benchmark index for the one-, three-, five- and ten-year periods. Broadridge Category – The Trust underperformed the peer group median for the one-, three- and ten-year periods and outperformed the peer group median for the five-year period.	Limited comparative subadviser fee data was provided due to the limited number of Broadridge peer funds. Net management fees for this Trust are higher than the peer group median. Net total expenses for this Trust are higher than the peer group median.	The Board took into account management’s discussion of the factors that contributed to the Trust’s performance for the one-, three- and ten-year periods relative to the peer group median. The Board noted the Trust’s favorable performance relative to the benchmark index for the one-, three-, five- and ten-year periods and to the peer group median for the five-year period. The Board took into account management’s discussion of the Trust’s expenses, including the impact of the Trust’s investments in business development companies on the Trust’s expenses.

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Appendix A

Portfolio (Subadviser)	Performance as of 12/31/2020	Fees and Expenses	Comments
Strategic Equity Allocation Trust (Manulife Investment Management (US) LLC)	Benchmark Index – The Trust underperformed the benchmark index for the one-, three- and five-year periods. Broadridge Category – The Trust underperformed the peer group median for the one-year period and outperformed the peer group median for the three- and five-year periods.	Limited comparative subadviser fee data was provided due to the limited number of Broadridge peer funds. Net management fees for this Trust are lower than the peer group median. Net total expenses for this Trust are lower than the peer group median.	The Board took into account management’s discussion of the factors that contributed to the Trust’s performance for the one-, three- and five-year periods relative to the benchmark index and to the peer group median for the one-year period. The Board noted the Trust’s favorable performance relative to the peer group median for the three- and five-year periods. The Board noted that the Trust outperformed its Morningstar peer group and benchmark index for the year-to-date period ended April 30, 2021. The Board noted the Trust’s net management fees and net total expenses are lower than the peer group median.
Total Stock Market Index Trust (Manulife Investment Management (North America) Limited)	Benchmark Index – The Trust outperformed the benchmark index for the one-year period and underperformed the benchmark index for the three-, five- and ten-year periods. Broadridge Category – The Trust outperformed the peer group median for the one-, three-, five- and ten-year periods.	The subadviser fees for this Trust are equal to the peer group median. Net management fees for this Trust are higher than the peer group median. Net total expenses for this Trust are lower than the peer group median.	The Board took into account management’s discussion of the factors that contributed to the Trust’s performance for the three-, five- and ten-year periods relative to the benchmark index. The Board noted the Trust’s favorable performance relative to the benchmark index for the one-year period and to the peer group median for the one-, three-, five- and ten-year periods. The Board also noted the Trust’s low performance dispersion relative to its benchmark index. The Board took into account management’s discussion of the Trust’s expenses. The Board noted the Trust’s total net expenses are lower than the peer group median.

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John Hancock Variable Insurance Trust

STATEMENT REGARDING LIQUIDITY RISK MANAGEMENT

Operation of the Liquidity Risk Management Program

This section describes operation and effectiveness of the Liquidity Risk Management Program (LRMP) established in accordance with Rule 22e-4 under the Investment Company Act of 1940, as amended (the Liquidity Rule). The Board of Trustees (the Board) of each Fund in the John Hancock Group of Funds (each a Fund and collectively, the Funds) that is subject to the requirements of the Liquidity Rule has appointed John Hancock Investment Management LLC and John Hancock Variable Trust Advisers LLC (together, the Advisor) to serve as Administrator of the LRMP with respect to each of the Funds, including 500 Index Trust, American Asset Allocation Trust, American Global Growth Trust, American Growth Trust, American Growth-Income Trust, American International Trust, Blue Chip Growth Trust, Capital Appreciation Trust, Capital Appreciation Value Trust, Disciplined Value International Trust, Emerging Markets Value Trust, Equity Income Trust, Financial Industries Trust, Fundamental All Cap Core Trust, Fundamental Large Cap Value Trust, Global Equity Trust, Health Sciences Trust, International Equity Index Trust, International Small Company Trust, Lifestyle Aggressive Portfolio (merged into Lifestyle Growth Portfolio effective April 23, 2021), Lifestyle Balanced Portfolio, Lifestyle Conservative Portfolio, Lifestyle Growth Portfolio, Lifestyle Moderate Portfolio, Mid Cap Index Trust, Mid Cap Stock Trust, Mid Value Trust, Real Estate Securities Trust, Science & Technology Trust, Small Cap Index Trust, Small Cap Opportunities Trust, Small Cap Stock Trust, Small Cap Value Trust, Small Company Value Trust, Strategic Equity Allocation Trust, Total Stock Market Index Trust subject to the oversight of the Board. In order to provide a mechanism and process to perform the functions necessary to administer the LRMP, the Advisor established the Liquidity Risk Management Committee (the Committee). The Funds’ subadvisor(s), Jennison Associates LLC, T. Rowe Price Associates, Inc., Boston Partners Global Investors, Inc., Dimensional Fund Advisors LP, Manulife Investment Management (US) LLC, SSGA Funds Management, Inc., Manulife Investment Management (North America) Limited, Wellington Management Company LLP, Allianz Global Investors U.S. LLC, GW&K Investment Management, LLC and Capital Research and Management Company (CRMC) which serves as the investment advisor to the JHVIT American Funds’ master funds, (the Subadvisors) execute the day-to-day investment management and security-level activities of the Fund in accordance with the requirements of the LRMP, subject to the supervision of the Advisor and the Board.

trends. In addition, the Advisor may conduct ad-hoc reviews and meetings with subadvisors as issues and trends are identified, including potential liquidity and valuation issues. The Committee also monitors global events, such as the COVID-19 Coronavirus, that could impact the markets and liquidity of portfolio investments and their classifications.

The Committee provided the Board at a meeting held by videoconference on March 23-25, 2021 with a written report which addressed the Committee’s assessment of the adequacy and effectiveness of the implementation and operation of the LRMP and any material changes to the LRMP. The report, which covered the period January 1, 2020 through December 31, 2020, included an assessment of important aspects of the LRMP including, but not limited to: (1) Highly Liquid Investment Minimum (HLIM) determination; (2) Compliance with the 15% limit on illiquid investments; (3) Reasonably Anticipated Trade Size (RATS) determination; (4) Security-level liquidity classifications; (5) Liquidity risk assessment; and (6) Operation of the Fund’s Redemption-In-Kind Procedures. Additionally, the report included a discussion of notable changes and enhancements to the LRMP implemented during 2020.

The report also covered material liquidity matters which occurred or were reported during this period applicable to the Fund, if any, and the Committee’s actions to address such matters.

The report stated, in relevant part, that during the period covered by the report:

•	The Fund’s investment strategy remained appropriate for an open-end fund structure;
•	The Fund was able to meet requests for redemption without significant dilution of remaining investors’ interests in the Fund;
•	The Fund did not report any breaches of the 15% limit on illiquid investments that would require reporting to the Securities and Exchange Commission;
•	The Fund continued to qualify as a Primarily Highly Liquid Fund under the Liquidity Rule and therefore is not required to establish a HLIM; and
•	The Chief Compliance Officer’s office performed audit testing of the LRMP which resulted in an assessment that the LRMP’s control environment was deemed to be operating effectively and in compliance with the Board approved procedures.

Adequacy and Effectiveness

Based on the review and assessment conducted by the Committee, the Committee has determined that the LRMP has been implemented, and is operating in a manner that is adequate and effective at assessing and managing the liquidity risk of each Fund.

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For more information

The Statement of Additional Information, a separate document with supplemental information not contained in the prospectus, includes additional information on the Board of Trustees and can be obtained without charge by calling 800-344-1029 or on the Securities and Exchange Commission (SEC) website at www.sec.gov.

PROXY VOTING POLICY A description of the trust’s proxy voting policies and procedures and information regarding how the trust voted proxies relating to portfolio securities during the most recent twelve-month period ended June 30 is available without charge, upon request, by calling 800-344-1029 or on the SEC website at www.sec.gov.

QUARTERLY PORTFOLIO DISCLOSURE All of each fund's holdings as of the end of the third month of every ﬁscal quarter are ﬁled with the SEC on Form N-PORT within 60 days of the end of the ﬁscal quarter. Each fund’s Form N-PORT filings are available on the SEC’s website, www.sec.gov.

The report is certiﬁed under the Sarbanes-Oxley Act, which requires mutual funds and other public companies to afﬁrm that, to the best of their knowledge, the information in their ﬁnancial reports is fairly and accurately stated in all material respects.

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John Hancock Annuities Service Center

P.O. Box 55444

Boston, MA 02205-5444

Management of the trust

Trustees

Hassell H. McClellan, Chairperson
Steven R. Pruchansky, Vice Chairperson
Andrew G. Arnott^†
Charles L. Bardelis^*
James R. Boyle
Peter S. Burgess^*
William H. Cunningham
Grace K. Fey
Marianne Harrison^†
Deborah C. Jackson
Frances G. Rathke*^,1
Gregory A. Russo

Officers

Andrew G. Arnott, President
Charles A. Rizzo, Chief Financial Officer
Salvatore Schiavone, Treasurer
Christopher (Kit) Sechler, Secretary and Chief Legal Officer
Trevor Swanberg², Chief Compliance Officer

*	Member of the Audit Committee
^†	Non-Independent Trustee
¹	Appointed as Independent Trustee effective as of September 15, 2020
²	Effective July 31, 2020

Investment advisor

John Hancock Variable Trust Advisers LLC
Boston, Massachusetts

JHT0SA

6/30

8/21

1115015:0621

JOHN HANCOCK

Variable Insurance Trust

Bond Trusts

Semiannual report

June 30, 2021

John Hancock Variable Insurance Trust

Semiannual report — Table of contents

Portfolio compositions	3
Shareholder expense example	4
Summary Portfolio of investments (See below for each portfolio’s page #)	6
Statements of assets and liabilities	37
Statements of operations	40
Statements of changes in net assets	43
Financial highlights	45
Notes to financial statements	51
Evaluation of advisory and subadvisory agreements by the Board of Trustees	73
Appendix A	77
Statement regarding liquidity risk management	82
For more information	83

Portfolio	Summary Portfolio of investments
Active Bond Trust		6
Core Bond Trust		8
High Yield Trust		9
Investment Quality Bond Trust		12
Money Market Trust		16
Opportunistic Fixed Income Trust		18

Portfolio	Summary Portfolio of investments
Select Bond Trust		25
Short Term Government Income Trust		27
Strategic Income Opportunities Trust		28
Total Bond Market Trust		32
Ultra Short Term Bond Trust		33

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John Hancock Variable Insurance Trust

Portfolio compositions

Active Bond Trust

Portfolio Composition (% of net assets)
Corporate bonds	48.4
U.S. Government Agency	17.9
U.S. Government	14.1
Collateralized mortgage obligations	7.5
Asset backed securities	6.3
Foreign government obligations	0.7
Municipal bonds	0.6
Preferred securities	0.2
Capital preferred securities	0.2
Common stocks	0.1
Short-term investments and other	4.0

Core Bond Trust

Portfolio Composition (% of total investments)
U.S. Government	32.6
Corporate bonds	26.0
U.S. Government Agency	22.9
Asset backed securities	7.7
Collateralized mortgage obligations	7.3
Foreign government obligations	1.1
Municipal bonds	0.4
Short-term investments	2.0

High Yield Trust

Portfolio Composition (% of net assets)
Corporate bonds	79.7
Term loans	7.9
Asset backed securities	4.8
Convertible bonds	1.4
Preferred securities	1.0
Common stocks	0.9
Foreign government obligations	0.6
Short-term investments and other	3.7

Investment Quality Bond Trust

Portfolio Composition (% of total investments)
U.S. Government Agency	28.8
Corporate bonds	23.3
U.S. Government	20.4
Collateralized mortgage obligations	11.4
Asset backed securities	6.4
Foreign government obligations	4.0
Term loans	2.4
Municipal bonds	1.6
Short-term investments	1.7

Money Market Trust

Portfolio Composition (% of total investments)
U.S. Government Agency	72.2
U.S. Government	27.0
Repurchase agreement	0.8

Opportunistic Fixed Income Trust

Portfolio Composition (% of net assets)
Foreign government obligations	42.6
Corporate bonds	20.0
Collateralized mortgage obligations	8.7
Term loans	8.6
Exchange-traded funds	5.1
Asset backed securities	4.2
Municipal bonds	3.4
Convertible bonds	1.6
U.S. Government	0.4
Short-term investments and other	5.4

Select Bond Trust

Portfolio Composition (% of net assets)
Corporate bonds	40.5
U.S. Government Agency	17.6
Asset backed securities	16.3
U.S. Government	14.2
Collateralized mortgage obligations	8.0
Municipal bonds	1.5
Foreign government obligations	0.5
Preferred securities	0.1
Short-term investments and other	1.3

Short Term Government Income Trust

Portfolio Composition (% of net assets)
U.S. Government Agency	63.1
U.S. Government	29.8
Municipal bonds	4.6
Collateralized mortgage obligations	1.3
Short-term investments and other	1.2

Strategic Income Opportunities Trust

Portfolio Composition (% of net assets)
Corporate bonds	58.5
Foreign government obligations	19.8
U.S. Government	4.8
Preferred securities	3.2
Common stocks	3.2
Convertible bonds	3.1
Term loans	3.0
Asset backed securities	1.5
Collateralized mortgage obligations	0.6
Capital preferred securities	0.3
Short-term investments and other	2.0

Total Bond Market Trust

Portfolio Composition (% of net assets)
U.S. Government	36.4
Corporate bonds	28.9
U.S. Government Agency	28.1
Collateralized mortgage obligations	2.4
Foreign government obligations	1.0
Municipal bonds	0.7
Short-term investments and other	2.5

Ultra Short Term Bond Trust

Portfolio Composition (% of net assets)
Corporate bonds	51.7
Asset backed securities	11.5
Collateralized mortgage obligations	1.1
U.S. Government Agency	1.0
Municipal bonds	0.7
Short-term investments and other	34.0

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John Hancock Variable Insurance Trust

Shareholder expense example

As a shareholder of a portfolio of John Hancock Variable Insurance Trust, you incur ongoing costs, such as management fees, distribution (Rule 12b-1) fees and other expenses. These examples are intended to help you understand your ongoing costs (in dollars) of investing in a portfolio so you can compare these costs with the ongoing costs of investing in other mutual funds. The examples are based on an investment of $1,000 at the beginning of the period and held for the entire period (January 1, 2021 through June 30, 2021).

Actual expenses:

Hypothetical example for comparison purposes:

The second line of each share class in the following table provides information about hypothetical account values and hypothetical expenses based on the actual expense ratio for the share class and an assumed annualized rate of return of 5% per year before expenses, which is not the actual return of the share class. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in a portfolio and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. Please remember that these hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period.

		Account value on 1-1-2021	Ending value on 6-30-2021	Expenses paid during period ended 6-30-2021¹	Annualized expense ratio
Active Bond Trust
Series I	Actual expenses/actual returns	$1,000.00	$993.20	$3.41	0.69%
	Hypothetical example	1,000.00	1,021.40	3.46	0.69%
Series II	Actual expenses/actual returns	1,000.00	992.30	4.40	0.89%
	Hypothetical example	1,000.00	1,020.40	4.46	0.89%
Series NAV	Actual expenses/actual returns	1,000.00	994.20	3.16	0.64%
	Hypothetical example	1,000.00	1,021.60	3.21	0.64%
Core Bond Trust
Series I	Actual expenses/actual returns	$1,000.00	$983.10	$3.20	0.65%
	Hypothetical example	1,000.00	1,021.60	3.26	0.65%
Series II	Actual expenses/actual returns	1,000.00	981.70	4.18	0.85%
	Hypothetical example	1,000.00	1,020.60	4.26	0.85%
Series NAV	Actual expenses/actual returns	1,000.00	982.40	2.95	0.60%
	Hypothetical example	1,000.00	1,021.80	3.01	0.60%
High Yield Trust
Series I	Actual expenses/actual returns	$1,000.00	$1,041.70	$4.20	0.83%
	Hypothetical example	1,000.00	1,020.70	4.16	0.83%
Series II	Actual expenses/actual returns	1,000.00	1,040.70	5.21	1.03%
	Hypothetical example	1,000.00	1,019.70	5.16	1.03%
Series NAV	Actual expenses/actual returns	1,000.00	1,042.50	3.95	0.78%
	Hypothetical example	1,000.00	1,020.90	3.91	0.78%
Investment Quality Bond Trust
Series I	Actual expenses/actual returns	$1,000.00	$987.70	$3.60	0.73%
	Hypothetical example	1,000.00	1,021.20	3.66	0.73%
Series II	Actual expenses/actual returns	1,000.00	986.00	4.58	0.93%
	Hypothetical example	1,000.00	1,020.20	4.66	0.93%
Series NAV	Actual expenses/actual returns	1,000.00	986.80	3.35	0.68%
	Hypothetical example	1,000.00	1,021.40	3.41	0.68%

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John Hancock Variable Insurance Trust

Shareholder expense example

		Account value on 1-1-2021	Ending value on 6-30-2021	Expenses paid during period ended 6-30-2021¹	Annualized expense ratio
Money Market Trust
Series I	Actual expenses/actual returns	$1,000.00	$1,000.00	$0.35	0.07%
	Hypothetical example	1,000.00	1,024.40	0.35	0.07%
Series II	Actual expenses/actual returns	1,000.00	1,000.00	0.35	0.07%
	Hypothetical example	1,000.00	1,024.40	0.35	0.07%
Series NAV	Actual expenses/actual returns	1,000.00	1,000.00	0.35	0.07%
	Hypothetical example	1,000.00	1,024.40	0.35	0.07%
Opportunistic Fixed Income Trust
Series I	Actual expenses/actual returns	$1,000.00	$997.80	$4.11	0.83%
	Hypothetical example	1,000.00	1,020.70	4.16	0.83%
Series II	Actual expenses/actual returns	1,000.00	996.20	5.10	1.03%
	Hypothetical example	1,000.00	1,019.70	5.16	1.03%
Series NAV	Actual expenses/actual returns	1,000.00	997.80	3.86	0.78%
	Hypothetical example	1,000.00	1,020.90	3.91	0.78%
Select Bond Trust
Series I	Actual expenses/actual returns	$1,000.00	$990.40	$3.01	0.61%
	Hypothetical example	1,000.00	1,021.80	3.06	0.61%
Series II	Actual expenses/actual returns	1,000.00	989.00	3.99	0.81%
	Hypothetical example	1,000.00	1,020.80	4.06	0.81%
Series NAV	Actual expenses/actual returns	1,000.00	990.40	2.81	0.57%
	Hypothetical example	1,000.00	1,022.00	2.86	0.57%
Short Term Government Income Trust
Series I	Actual expenses/actual returns	$1,000.00	$992.70	$3.46	0.70%
	Hypothetical example	1,000.00	1,021.30	3.51	0.70%
Series II	Actual expenses/actual returns	1,000.00	991.90	4.44	0.90%
	Hypothetical example	1,000.00	1,020.30	4.51	0.90%
Series NAV	Actual expenses/actual returns	1,000.00	992.70	3.21	0.65%
	Hypothetical example	1,000.00	1,021.60	3.26	0.65%
Strategic Income Opportunities Trust
Series I	Actual expenses/actual returns	$1,000.00	$1,013.90	$3.75	0.75%
	Hypothetical example	1,000.00	1,021.10	3.76	0.75%
Series II	Actual expenses/actual returns	1,000.00	1,012.40	4.74	0.95%
	Hypothetical example	1,000.00	1,020.10	4.76	0.95%
Series NAV	Actual expenses/actual returns	1,000.00	1,013.90	3.50	0.70%
	Hypothetical example	1,000.00	1,021.30	3.51	0.70%
Total Bond Market Trust
Series I	Actual expenses/actual returns	$1,000.00	$981.60	$1.47	0.30%
	Hypothetical example	1,000.00	1,023.30	1.51	0.30%
Series II	Actual expenses/actual returns	1,000.00	980.80	2.46	0.50%
	Hypothetical example	1,000.00	1,022.30	2.51	0.50%
Series NAV	Actual expenses/actual returns	1,000.00	981.60	1.23	0.25%
	Hypothetical example	1,000.00	1,023.60	1.25	0.25%
Ultra Short Term Bond Trust
Series I	Actual expenses/actual returns	$1,000.00	$1,000.00	$2.93	0.59%
	Hypothetical example	1,000.00	1,021.90	2.96	0.59%
Series II	Actual expenses/actual returns	1,000.00	999.10	3.92	0.79%
	Hypothetical example	1,000.00	1,020.90	3.96	0.79%
Series NAV	Actual expenses/actual returns	1,000.00	1,000.00	2.68	0.54%
	Hypothetical example	1,000.00	1,022.10	2.71	0.54%

¹	Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

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John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Active Bond Trust

		Shares or Principal Amount	Value		% of Net Assets
U.S. GOVERNMENT AND AGENCY OBLIGATIONS - 32.0%
U.S. Treasury Bonds - 7.2%
1.250%, 05/15/2050	$	2,000,000	$	1,633,047	0.2%
1.625%, 11/15/2050		6,500,000		5,837,813	0.8%
1.875%, 02/15/2041 to 02/15/2051		12,499,300		12,076,207	1.6%
2.250%, 05/15/2041		7,634,000		7,942,938	1.1%
2.500%, 02/15/2045		12,428,000		13,446,513	1.8%
2.875%, 05/15/2049		3,000,000		3,512,930	0.5%
3.000%, 02/15/2047		3,420,000		4,062,853	0.6%
3.125%, 11/15/2041		3,886,000		4,632,233	0.6%
				53,144,534
U.S. Treasury Notes - 6.9%
0.250%, 03/15/2024		1,738,000		1,731,075	0.2%
0.875%, 06/30/2026		2,456,000		2,454,849	0.3%
1.125%, 02/15/2031		3,000,000		2,912,344	0.4%
1.250%, 03/31/2028 to 06/30/2028		16,104,000		16,156,252	2.2%
1.625%, 05/15/2031		12,916,000		13,113,776	1.8%
2.375%, 05/15/2027		6,000,000		6,459,141	0.9%
2.875%, 08/15/2028		7,000,000		7,785,039	1.1%
				50,612,476
Federal Home Loan Mortgage Corp. - 2.6%
3.000%, 03/01/2043 to 12/01/2049		6,639,008		7,035,519	0.9%
3.500%, 10/01/2046 to 11/01/2048		8,724,527		9,351,960	1.3%
4.500%, 09/01/2023 to 10/01/2041		1,546,097		1,715,908	0.2%
OTHER SECURITIES				1,308,738	0.2%
				19,412,125
Federal National Mortgage Association - 15.0%
2.000%, 09/01/2050 to 10/01/2050		4,471,227		4,532,947	0.6%
2.000%, TBA (A)		4,298,000		4,342,722	0.6%
2.500%, TBA (A)		1,753,000		1,813,122	0.2%
3.000%, 01/01/2043 to 11/01/2049		7,644,417		8,118,636	1.2%
3.000%, TBA (A)		26,250,000		27,365,630	3.7%
3.500%, 06/01/2042 to 09/01/2049		8,031,658		8,632,267	1.2%
3.500%, TBA (A)		25,000,000		26,312,488	3.6%
4.000%, 10/01/2025 to 11/01/2045		4,251,142		4,625,202	0.6%
4.000%, TBA (A)		16,000,000		17,036,248	2.3%
5.000%, 01/01/2022 to 02/01/2036		1,297,848		1,470,215	0.2%
5.500%, 09/01/2034 to 01/01/2037		1,669,480		1,928,120	0.3%
6.000%, 05/01/2035 to 02/01/2036		1,296,294		1,519,812	0.2%

Active Bond Trust (continued)

		Shares or Principal Amount	Value		% of Net Assets
U.S. GOVERNMENT AND AGENCY OBLIGATIONS (continued)
Federal National Mortgage Association (continued)
OTHER SECURITIES			$	2,818,638	0.3%
				110,516,047
Government National Mortgage Association - 0.3%				1,752,282	0.3%
TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $230,962,120)			$	235,437,464
FOREIGN GOVERNMENT OBLIGATIONS - 0.7%
Argentina - 0.1%				438,003	0.1%
Germany - 0.2%				1,357,456	0.2%
Mexico - 0.1%				623,353	0.1%
Panama - 0.1%				665,862	0.1%
Qatar - 0.1%				797,415	0.1%
Saudi Arabia - 0.1%				797,518	0.1%
United Kingdom - 0.0%				163,808	0.0%
TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $4,636,793)			$	4,843,415
CORPORATE BONDS - 48.4%
Communication services - 5.5%
Verizon Communications, Inc. 4.272%, 01/15/2036	$	1,311,000		1,559,861	0.2%
OTHER SECURITIES				38,834,710	5.3%
				40,394,571
Consumer discretionary - 4.9%
Expedia Group, Inc. 5.000%, 02/15/2026		1,315,000		1,500,119	0.2%
OTHER SECURITIES				34,315,086	4.7%
				35,815,205
Consumer staples - 2.1%
Sysco Corp. 6.600%, 04/01/2050		1,000,000		1,553,363	0.2%
OTHER SECURITIES				13,462,330	1.9%
				15,015,693
Energy - 4.7%
Cameron International Corp. 5.950%, 06/01/2041		1,178,000		1,503,870	0.2%
OTHER SECURITIES				33,082,928	4.5%
				34,586,798
Financials - 11.2%
Markel Corp. 5.000%, 03/30/2043		1,270,000		1,536,018	0.2%
Stifel Financial Corp. 4.250%, 07/18/2024		1,300,000		1,424,302	0.2%
OTHER SECURITIES				79,694,578	10.8%
				82,654,898
Health care - 3.5%
AbbVie, Inc. 3.200%, 11/21/2029		2,344,000		2,545,688	0.3%
OTHER SECURITIES				23,442,840	3.2%
				25,988,528
Industrials - 5.6%
Huntington Ingalls Industries, Inc. 4.200%, 05/01/2030		1,379,000		1,574,972	0.2%
OTHER SECURITIES				39,845,608	5.4%
				41,420,580

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Active Bond Trust (continued)

		Shares or Principal Amount	Value		% of Net Assets
CORPORATE BONDS (continued)
Information technology - 3.9%
Broadcom, Inc. 4.750%, 04/15/2029	$	1,594,000	$	1,854,232	0.3%
Dell International LLC 5.300%, 10/01/2029		1,309,000		1,579,481	0.2%
Micron Technology, Inc. 5.327%, 02/06/2029		1,673,000		2,020,764	0.3%
PayPal Holdings, Inc. 2.850%, 10/01/2029		1,818,000		1,960,647	0.3%
OTHER SECURITIES				21,531,251	2.8%
				28,946,375
Materials - 1.9%				14,029,941	1.9%
Real estate - 3.1%				22,616,635	3.1%
Utilities - 2.0%
Arizona Public Service Company 5.500%, 09/01/2035		1,118,000		1,455,474	0.2%
OTHER SECURITIES				13,087,032	1.8%
				14,542,506
TOTAL CORPORATE BONDS (Cost $326,819,534)			$	356,011,730
CAPITAL PREFERRED SECURITIES - 0.2%
Financials - 0.2%				1,464,863	0.2%
TOTAL CAPITAL PREFERRED SECURITIES (Cost $1,389,217)			$	1,464,863
MUNICIPAL BONDS - 0.6%
The School District of Philadelphia (Pennsylvania), GO 6.765%, 06/01/2040		1,010,000		1,409,593	0.2%
OTHER SECURITIES				3,380,315	0.4%
TOTAL MUNICIPAL BONDS (Cost $4,392,167)			$	4,789,908
TERM LOANS (B) - 0.0%
Information technology - 0.0%				303,933	0.0%
TOTAL TERM LOANS (Cost $303,482)			$	303,933
COLLATERALIZED MORTGAGE OBLIGATIONS - 7.5%
Commercial and residential - 5.4%
Commercial Mortgage Trust (Bank of America Merrill Lynch/Deutsche Bank AG) Series 2013-WWP, Class A2, 3.424%, 03/10/2031 (C)		1,400,000		1,462,137	0.2%
OTHER SECURITIES				38,455,180	5.2%
				39,917,317
Federal Home Loan Mortgage Corp. - 0.3%				2,332,487	0.3%
Federal National Mortgage Association - 0.7%				5,433,005	0.7%
Government National Mortgage Association - 1.1%				7,757,325	1.1%
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $58,789,683)			$	55,440,134
ASSET BACKED SECURITIES - 6.3%
Capital One Multi-Asset Execution Trust Series 2016-A7, Class A7 (1 month LIBOR + 0.510%), 0.583%, 09/16/2024 (D)		3,123,000		3,129,254	0.4%

Active Bond Trust (continued)

		Shares or Principal Amount	Value		% of Net Assets
ASSET BACKED SECURITIES (continued)
Citibank Credit Card Issuance Trust Series 2017-A7, Class A7 (1 month LIBOR + 0.370%), 0.451%, 08/08/2024 (D)	$	3,000,000	$	3,011,239	0.4%
Credit-Based Asset Servicing & Securitization LLC Series 2006-MH1, Class B1, 6.250%, 10/25/2036 (C)		2,560,000		2,631,155	0.4%
Domino's Pizza Master Issuer LLC Series 2021-1A, Class A2I, 2.662%, 04/25/2051 (C)		1,323,000		1,368,895	0.2%
OTHER SECURITIES				35,841,321	4.9%
TOTAL ASSET BACKED SECURITIES (Cost $44,967,716)			$	45,981,864
COMMON STOCKS - 0.1%
Energy - 0.0%				9,348	0.0%
Utilities - 0.1%				458,100	0.1%
TOTAL COMMON STOCKS (Cost $467,553)			$	467,448
PREFERRED SECURITIES - 0.2%
Communication services - 0.0%				222,116	0.0%
Consumer staples - 0.0%				206,088	0.0%
Financials - 0.0%				151,317	0.0%
Information technology - 0.1%				421,004	0.1%
Utilities - 0.1%				519,653	0.1%
TOTAL PREFERRED SECURITIES (Cost $1,314,456)			$	1,520,178
WARRANTS - 0.0%				23,793	0.0%
TOTAL WARRANTS (Cost $6,962)			$	23,793
SHORT-TERM INVESTMENTS - 13.8%
Short-term funds - 12.5%
John Hancock Collateral Trust, 0.0324% (E)(F)		340,971		3,411,275	0.5%
State Street Institutional U.S. Government Money Market Fund, Premier Class, 0.0250% (E)		88,333,936		88,333,936	12.0%
				91,745,211
Repurchase agreement - 1.3%
Repurchase Agreement with State Street Corp. dated 6-30-21 at 0.000% to be repurchased at $9,688,000 on 7-1-21, collateralized by $10,061,500 U.S. Treasury Notes, 0.375% due 11-30-25 (valued at $9,881,836)	$	9,688,000		9,688,000	1.3%
TOTAL SHORT-TERM INVESTMENTS (Cost $101,433,296)			$	101,433,211
Total Investments (Active Bond Trust) (Cost $775,482,979) - 109.8%			$	807,717,941	109.8%
Other assets and liabilities, net - (9.8)%				(71,835,373)	(9.8%)
TOTAL NET ASSETS - 100.0%			$	735,882,568	100.0%

Security Abbreviations and Legend
GO	General Obligation
LIBOR	London Interbank Offered Rate

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Active Bond Trust (continued)

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.
(A)	Security purchased or sold on a when-issued or delayed delivery basis.
(B)	Term loans are variable rate obligations. The coupon rate shown represents the rate at period end.
(C)	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. Rule 144A securities amounted to $149,491,187 or 20.3% of the fund's net assets as of 6-30-21.
(D)	Variable rate obligation. The coupon rate shown represents the rate at period end.
(E)	The rate shown is the annualized seven-day yield as of 6-30-21.
(F)	Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending.

Core Bond Trust

		Shares or Principal Amount	Value		% of Net Assets
U.S. GOVERNMENT AND AGENCY OBLIGATIONS - 60.1%
U.S. Treasury Bonds - 8.1%
1.125%, 05/15/2040 to 08/15/2040	$	27,484,000	$	23,683,785	2.3%
1.375%, 11/15/2040 to 08/15/2050		22,203,000		19,659,659	1.9%
1.625%, 11/15/2050		5,045,000		4,531,041	0.4%
1.875%, 02/15/2041 to 02/15/2051		21,641,000		21,032,195	2.1%
2.250%, 05/15/2041		8,188,000		8,519,358	0.8%
2.375%, 05/15/2051		3,812,000		4,069,906	0.4%
OTHER SECURITIES				2,629,146	0.2%
				84,125,090
U.S. Treasury Notes - 27.2%
0.125%, 05/31/2022 to 01/15/2024		71,589,000		71,452,381	7.0%
0.250%, 06/15/2023 to 10/31/2025		52,983,000		52,436,006	5.0%
0.375%, 04/15/2024 to 12/31/2025		29,539,000		29,013,121	2.8%
0.500%, 02/28/2026 to 10/31/2027		24,234,000		23,629,163	2.3%
0.750%, 05/31/2026 to 01/31/2028		20,846,000		20,594,943	2.0%
0.875%, 06/30/2026		33,176,000		33,160,449	3.2%
1.500%, 11/30/2024		6,252,000		6,451,038	0.6%
1.625%, 05/15/2031		11,419,000		11,593,853	1.1%
1.875%, 02/28/2022		10,979,000		11,111,091	1.1%
2.000%, 02/15/2022		8,231,000		8,330,672	0.8%
2.875%, 10/31/2023		6,200,000		6,568,125	0.6%
OTHER SECURITIES				6,981,137	0.7%
				281,321,979
Federal Home Loan Mortgage Corp. - 1.8%
2.500%, 01/01/2036		2,937,091		3,099,708	0.3%
4.000%, 01/01/2035 to 07/01/2049		5,854,211		6,370,229	0.6%
4.500%, 06/01/2039 to 08/01/2049		4,122,552		4,549,272	0.4%
OTHER SECURITIES				4,645,798	0.5%
				18,665,007
Federal National Mortgage Association - 18.7%
2.000%, 05/01/2031 to 04/01/2051		8,950,763		9,131,618	0.9%

Core Bond Trust (continued)

		Shares or Principal Amount	Value		% of Net Assets
U.S. GOVERNMENT AND AGENCY OBLIGATIONS (continued)
Federal National Mortgage Association (continued)
2.000%, TBA (A)	$	32,400,000	$	33,157,956	3.2%
2.500%, 12/01/2035 to 10/01/2050		29,235,400		30,661,512	3.0%
2.500%, TBA (A)		43,200,000		44,597,332	4.3%
3.000%, 01/01/2043 to 07/01/2060		16,433,021		17,511,599	1.7%
4.000%, 09/01/2033 to 08/01/2059		14,181,625		15,616,415	1.6%
4.500%, 05/01/2034 to 01/01/2059		18,564,521		20,684,341	1.8%
5.000%, 07/01/2044 to 11/01/2049		14,227,914		16,038,331	1.6%
5.500%, 12/01/2048 to 06/01/2049		2,938,807		3,377,184	0.3%
OTHER SECURITIES				2,366,068	0.3%
				193,142,356
Government National Mortgage Association - 4.3%
2.500%, 06/20/2051		17,419,000		18,048,490	1.8%
2.500%, TBA (A)		3,100,000		3,208,203	0.3%
4.000%, 06/20/2047 to 07/20/2049		8,871,206		9,531,974	0.9%
4.500%, 08/15/2047 to 05/20/2049		2,964,010		3,228,576	0.2%
5.000%, 12/20/2039 to 03/20/2049		8,572,095		9,309,005	1.0%
OTHER SECURITIES				923,489	0.1%
				44,249,737
TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $623,027,271)			$	621,504,169
FOREIGN GOVERNMENT OBLIGATIONS - 1.2%
Chile - 0.1%				799,491	0.1%
Colombia - 0.1%				1,000,839	0.1%
Italy - 0.1%				814,535	0.1%
Japan - 0.1%				843,426	0.1%
Mexico - 0.4%				4,844,087	0.4%
Paraguay - 0.1%				1,459,633	0.1%
Peru - 0.3%				3,061,548	0.3%
TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $12,628,385)			$	12,823,559
CORPORATE BONDS - 28.1%
Communication services - 2.5%
T-Mobile USA, Inc. 2.250%, 02/15/2026 (B)		3,839,000		3,867,793	0.4%
OTHER SECURITIES				22,086,240	2.1%
				25,954,033
Consumer discretionary - 2.4%				24,733,506	2.4%
Consumer staples - 1.5%				15,727,452	1.5%
Energy - 2.2%				23,058,618	2.2%
Financials - 7.6%
Bank of America Corp. (2.687% to 4-22-31, then SOFR + 1.320%) 04/22/2032		3,212,000		3,304,488	0.3%

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Core Bond Trust (continued)

		Shares or Principal Amount	Value		% of Net Assets
CORPORATE BONDS (continued)
Financials (continued)
Bank of America Corp. (1.658% to 3-11-26, then SOFR + 0.910%) 03/11/2027	$	3,285,000	$	3,311,101	0.3%
JPMorgan Chase & Co. (1.040% to 2-4-26, then SOFR + 0.695%) 02/04/2027		3,263,000		3,209,365	0.3%
Morgan Stanley (0.790% to 5-30-24, then SOFR + 0.525%) 05/30/2025		3,370,000		3,358,106	0.3%
OTHER SECURITIES				65,622,727	6.4%
				78,805,787
Health care - 2.5%				26,005,171	2.5%
Industrials - 2.2%				22,555,932	2.2%
Information technology - 2.1%				21,274,780	2.1%
Materials - 0.6%				6,307,049	0.6%
Real estate - 1.7%				17,713,132	1.7%
Utilities - 2.8%				28,648,854	2.8%
TOTAL CORPORATE BONDS (Cost $284,775,382)			$	290,784,314
MUNICIPAL BONDS - 0.4%				3,999,553	0.4%
TOTAL MUNICIPAL BONDS (Cost $3,491,228)			$	3,999,553
COLLATERALIZED MORTGAGE OBLIGATIONS - 7.9%
Commercial and residential - 3.6%				36,887,206	3.6%
Federal Home Loan Mortgage Corp. - 1.2%				12,482,407	1.2%
Federal National Mortgage Association - 2.6%
Series 2021-27, Class EC, 1.500%, 05/25/2051		2,958,494		2,978,696	0.3%
Series 2016-57, Class PC, 1.750%, 06/25/2046		4,070,520		4,119,164	0.4%
Series 2020-48, Class DA, 2.000%, 07/25/2050		2,651,489		2,694,064	0.3%
OTHER SECURITIES				16,956,856	1.6%
				26,748,780
Government National Mortgage Association - 0.5%				5,386,311	0.5%
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $80,001,003)			$	81,504,704
ASSET BACKED SECURITIES - 8.3%
Navient Private Education Loan Trust Series 2020-IA, Class A1A, 1.330%, 04/15/2069 (B)		2,667,938		2,662,461	0.3%
Navient Private Education Refi Loan Trust Series 2021-CA, Class A, 1.060%, 10/15/2069 (B)		3,456,000		3,463,297	0.3%
Nelnet Student Loan Trust Series 2005-1, Class A5 (3 month LIBOR + 0.110%), 0.286%, 10/25/2033 (C)		3,392,462		3,341,439	0.3%
Nelnet Student Loan Trust Series 2005-2, Class A5 (3 month LIBOR + 0.100%), 0.235%, 03/23/2037 (C)		3,296,713		3,244,171	0.3%

Core Bond Trust (continued)

		Shares or Principal Amount	Value		% of Net Assets
ASSET BACKED SECURITIES (continued)
SLM Student Loan Trust Series 2007-2, Class A4 (3 month LIBOR + 0.060%), 0.236%, 07/25/2022 (C)	$	2,862,462	$	2,787,550	0.3%
SMB Private Education Loan Trust Series 2020-PTB, Class A2A, 1.600%, 09/15/2054 (B)		4,469,000		4,502,403	0.4%
SMB Private Education Loan Trust Series 2021-A, Class APT1, 1.070%, 01/15/2053 (B)		3,993,093		3,933,012	0.4%
OTHER SECURITIES				62,164,855	6.0%
TOTAL ASSET BACKED SECURITIES (Cost $85,618,217)			$	86,099,188
SHORT-TERM INVESTMENTS - 2.1%
Short-term funds - 2.1%
John Hancock Collateral Trust, 0.0324% (D)(E)		163,840		1,639,149	0.1%
State Street Institutional U.S. Government Money Market Fund, Premier Class, 0.0250% (D)		20,468,469		20,468,469	2.0%
				22,107,618
TOTAL SHORT-TERM INVESTMENTS (Cost $22,107,626)			$	22,107,618
Total Investments (Core Bond Trust) (Cost $1,111,649,112) - 108.1%			$	1,118,823,105	108.1%
Other assets and liabilities, net - (8.1)%				(83,963,369)	(8.1%)
TOTAL NET ASSETS - 100.0%			$	1,034,859,736	100.0%

Security Abbreviations and Legend
LIBOR	London Interbank Offered Rate
SOFR	Secured Overnight Financing Rate
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.
(A)	Security purchased or sold on a when-issued or delayed delivery basis.
(B)	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. Rule 144A securities amounted to $142,451,030 or 13.8% of the fund's net assets as of 6-30-21.
(C)	Variable rate obligation. The coupon rate shown represents the rate at period end.
(D)	The rate shown is the annualized seven-day yield as of 6-30-21.
(E)	Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending.

High Yield Trust

	Shares or Principal Amount	Value		% of Net Assets
FOREIGN GOVERNMENT OBLIGATIONS - 0.6%
Argentina - 0.3%		$	707,776	0.3%

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

High Yield Trust (continued)

		Shares or Principal Amount	Value		% of Net Assets
FOREIGN GOVERNMENT OBLIGATIONS (continued)
Brazil - 0.3%			$	587,052	0.3%
Indonesia - 0.0%				5,643	0.0%
TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $2,208,328)			$	1,300,471
CORPORATE BONDS - 79.7%
Communication services - 12.7%
Allen Media LLC 10.500%, 02/15/2028 (A)	$	810,000		860,625	0.4%
CCO Holdings LLC 4.500%, 05/01/2032		820,000		849,725	0.4%
CCO Holdings LLC 5.125%, 05/01/2027 (A)		1,060,000		1,111,834	0.5%
Clear Channel Outdoor Holdings, Inc. 7.500%, 06/01/2029 (A)		760,000		786,856	0.4%
CSC Holdings LLC 6.500%, 02/01/2029 (A)		800,000		886,080	0.4%
DISH DBS Corp. 7.750%, 07/01/2026		1,530,000		1,732,725	0.8%
Netflix, Inc. 6.375%, 05/15/2029		700,000		894,075	0.4%
Sprint Corp. 7.875%, 09/15/2023		1,170,000		1,329,209	0.6%
Vmed O2 UK Financing I PLC 4.750%, 07/15/2031 (A)		910,000		923,650	0.4%
OTHER SECURITIES				17,374,666	8.4%
				26,749,445
Consumer discretionary - 14.9%
Adtalem Global Education, Inc. 5.500%, 03/01/2028 (A)		980,000		995,239	0.5%
American News Company LLC (8.500% Cash or 10.000% PIK) 8.500%, 09/01/2026 (A)		986,955		1,105,390	0.5%
Ford Motor Company 9.000%, 04/22/2025		670,000		826,023	0.4%
Ford Motor Credit Company LLC 5.113%, 05/03/2029		1,100,000		1,231,428	0.6%
L Brands, Inc. 5.250%, 02/01/2028		1,020,000		1,141,125	0.5%
NCL Corp., Ltd. 12.250%, 05/15/2024 (A)		790,000		954,083	0.4%
Viking Cruises, Ltd. 7.000%, 02/15/2029 (A)		800,000		832,344	0.4%
Viking Cruises, Ltd. 13.000%, 05/15/2025 (A)		910,000		1,070,560	0.5%
VOC Escrow, Ltd. 5.000%, 02/15/2028 (A)		1,525,000		1,541,775	0.7%
WW International, Inc. 4.500%, 04/15/2029 (A)		800,000		806,000	0.4%
OTHER SECURITIES				21,005,797	10.0%
				31,509,764
Consumer staples - 1.1%				2,207,990	1.1%
Energy - 10.4%
Berry Petroleum Company LLC 7.000%, 02/15/2026 (A)		1,290,000		1,309,350	0.6%
Colgate Energy Partners III LLC 5.875%, 07/01/2029 (A)		1,020,000		1,058,250	0.5%

High Yield Trust (continued)

		Shares or Principal Amount	Value		% of Net Assets
CORPORATE BONDS (continued)
Energy (continued)
MEG Energy Corp. 7.125%, 02/01/2027 (A)	$	1,130,000	$	1,203,817	0.6%
Oasis Petroleum, Inc. 6.375%, 06/01/2026 (A)		990,000		1,032,303	0.5%
OTHER SECURITIES				17,336,515	8.2%
				21,940,235
Financials - 8.3%
Global Aircraft Leasing Company, Ltd. (6.500% Cash or 7.250% PIK) 6.500%, 09/15/2024 (A)		2,201,318		2,212,299	1.1%
OTHER SECURITIES				15,277,545	7.2%
				17,489,844
Health care - 7.3%
Bausch Health Americas, Inc. 9.250%, 04/01/2026 (A)		810,000		881,037	0.4%
Bausch Health Companies, Inc. 6.250%, 02/15/2029 (A)		1,060,000		1,048,393	0.5%
Community Health Systems, Inc. 6.125%, 04/01/2030 (A)		860,000		872,900	0.4%
Community Health Systems, Inc. 6.625%, 02/15/2025 (A)		810,000		856,567	0.4%
Community Health Systems, Inc. 6.875%, 04/15/2029 (A)		760,000		795,317	0.4%
HCA, Inc. 5.625%, 09/01/2028		800,000		948,000	0.4%
OTHER SECURITIES				10,113,235	4.8%
				15,515,449
Industrials - 10.6%
Legends Hospitality Holding Company LLC 5.000%, 02/01/2026 (A)		850,000		886,125	0.4%
Madison IAQ LLC 5.875%, 06/30/2029 (A)		900,000		915,750	0.4%
Prime Security Services Borrower LLC 6.250%, 01/15/2028 (A)		920,000		978,650	0.5%
SRM Escrow Issuer LLC 6.000%, 11/01/2028 (A)		770,000		816,200	0.4%
TransDigm, Inc. 4.625%, 01/15/2029 (A)		890,000		890,312	0.4%
OTHER SECURITIES				17,997,852	8.5%
				22,484,889
Information technology - 4.6%
CommScope, Inc. 8.250%, 03/01/2027 (A)		1,260,000		1,346,688	0.6%
Gartner, Inc. 3.625%, 06/15/2029 (A)		820,000		832,300	0.4%
OTHER SECURITIES				7,618,194	3.6%
				9,797,182
Materials - 4.4%
Ardagh Metal Packaging Finance USA LLC 4.000%, 09/01/2029 (A)		800,000		793,260	0.4%
First Quantum Minerals, Ltd. 6.875% 03/01/2026 to 10/15/2027 (A)		1,450,000		1,536,911	0.7%
Greif, Inc. 6.500%, 03/01/2027 (A)		840,000		885,948	0.4%

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

High Yield Trust (continued)

		Shares or Principal Amount	Value		% of Net Assets
CORPORATE BONDS (continued)
Materials (continued)
OTHER SECURITIES			$	6,063,025	2.9%
				9,279,144
Real estate - 4.6%
Diversified Healthcare Trust 4.750%, 02/15/2028	$	930,000		916,050	0.4%
Five Point Operating Company LP 7.875%, 11/15/2025 (A)		1,060,000		1,119,572	0.5%
OTHER SECURITIES				7,601,093	3.7%
				9,636,715
Utilities - 0.8%				1,755,693	0.8%
TOTAL CORPORATE BONDS (Cost $163,930,522)			$	168,366,350
CONVERTIBLE BONDS - 1.4%
Communication services - 0.4%				739,733	0.4%
Consumer discretionary - 0.2%				332,987	0.2%
Energy - 0.4%
Cheniere Energy, Inc. 4.250%, 03/15/2045		990,000		833,786	0.4%
Financials - 0.2%				501,900	0.2%
Industrials - 0.0%				85,779	0.0%
Information technology - 0.0%				76,800	0.0%
Real estate - 0.1%				191,371	0.1%
Utilities - 0.1%				89,685	0.1%
TOTAL CONVERTIBLE BONDS (Cost $2,780,665)			$	2,852,041
TERM LOANS (B) - 7.9%
Communication services - 0.7%				1,492,949	0.7%
Consumer discretionary - 2.7%
Adtalem Global Education, Inc., 2021 Term Loan B 02/11/2028 TBD (C)		830,000		827,718	0.4%
Petco Health & Wellness Company, Inc., 2021 Term Loan B (3 month LIBOR + 3.250%) 4.000%, 03/03/2028		1,296,750		1,293,742	0.6%
OTHER SECURITIES				3,544,938	1.7%
				5,666,398
Financials - 0.5%				1,113,210	0.5%
Health care - 1.1%				2,277,380	1.1%
Industrials - 1.2%
United Airlines, Inc., 2021 Term Loan B (3 month LIBOR + 3.750%) 4.500%, 04/21/2028		1,127,175		1,140,949	0.6%
OTHER SECURITIES				1,372,253	0.6%
				2,513,202
Information technology - 1.5%
Dcert Buyer, Inc., 2021 2nd Lien Term Loan (1 month LIBOR + 7.000%) 7.104%, 02/16/2029		820,000		825,642	0.4%
OTHER SECURITIES				2,367,543	1.1%
				3,193,185
Materials - 0.2%				441,696	0.2%
TOTAL TERM LOANS (Cost $16,566,055)			$	16,698,020

High Yield Trust (continued)

		Shares or Principal Amount	Value		% of Net Assets
ASSET BACKED SECURITIES - 4.8%
OZLM XIX, Ltd. Series 2017-19A, Class C (3 month LIBOR + 3.100%), 3.341%, 11/22/2030 (A)(D)	$	810,000	$	796,975	0.4%
OTHER SECURITIES				9,425,605	4.4%
TOTAL ASSET BACKED SECURITIES (Cost $10,193,321)			$	10,222,580
COMMON STOCKS - 0.9%
Communication services - 0.0%				0	0.0%
Consumer discretionary - 0.1%				132,243	0.1%
Energy - 0.8%
Oasis Petroleum, Inc.		8,771		881,924	0.4%
OTHER SECURITIES				864,854	0.4%
				1,746,778
TOTAL COMMON STOCKS (Cost $9,868,729)			$	1,879,021
PREFERRED SECURITIES - 1.0%
Energy - 0.5%				1,056,276	0.5%
Financials - 0.5%				1,052,537	0.5%
TOTAL PREFERRED SECURITIES (Cost $1,978,171)			$	2,108,813
ESCROW CERTIFICATES - 0.0%				0	0.0%
TOTAL ESCROW CERTIFICATES (Cost $342,202)			$	0
SHORT-TERM INVESTMENTS - 4.6%
Short-term funds - 4.6%
John Hancock Collateral Trust, 0.0324% (E)(F)		345,094		3,452,532	1.6%
State Street Institutional Treasury Plus Money Market Fund, Premier Class, 0.0101% (E)		6,349,558		6,349,558	3.0%
				9,802,090
TOTAL SHORT-TERM INVESTMENTS (Cost $9,802,174)			$	9,802,090
Total Investments (High Yield Trust) (Cost $217,670,167) - 100.9%			$	213,229,386	100.9%
Other assets and liabilities, net - (0.9)%				(1,978,848)	(0.9%)
TOTAL NET ASSETS - 100.0%			$	211,250,538	100.0%

Security Abbreviations and Legend
LIBOR	London Interbank Offered Rate
PIK	Pay-in-Kind Security - Represents a payment-in-kind which may pay interest in additional par and/or cash. Rates shown are the current rate and most recent payment rate.
(A)	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. Rule 144A securities amounted to $141,021,057 or 66.8% of the fund's net assets as of 6-30-21.
(B)	Term loans are variable rate obligations. The coupon rate shown represents the rate at period end.
(C)	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, which is disclosed as TBD (To Be Determined).
(D)	Variable rate obligation. The coupon rate shown represents the rate at period end.
(E)	The rate shown is the annualized seven-day yield as of 6-30-21.

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

High Yield Trust (continued)

(F)	Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending.

DERIVATIVES

FUTURES

Open contracts	Number of contracts	Position	Expiration date	Notional basis^	Notional value^	Unrealized appreciation (depreciation)
5-Year U.S. Treasury Note Futures	81	Long	Sep 2021	$10,011,021	$9,997,805	$(13,216)
						$(13,216)

^ 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

Contract to buy		Contract to sell		Counterparty (OTC)	Contractual settlement date	Unrealized appreciation	Unrealized depreciation
EUR	442,617	USD	527,870	BNP	7/19/2021	—	$(2,850)
MXN	1,174,325	USD	57,761	MSCS	7/19/2021	$1,027	—
USD	587,521	CAD	724,887	JPM	7/19/2021	2,753	—
						$3,780	$(2,850)

SWAPS

Credit default swaps - Seller
Counterparty (OTC)/ Centrally cleared	Reference obligation	Implied credit spread	Notional amount	Currency	USD notional amount	Received fixed rate	Fixed payment frequency	Maturity date	Unamortized upfront payment paid (received)	Unrealized appreciation (depreciation)	Value
Centrally cleared	Ford Motor Credit Company LLC	1.163%	300,000	USD	$300,000	5.000%	Quarterly	Jun 2023	$(12,872)	$35,863	$22,991
Centrally cleared	Occidental Petroleum Corp.	1.900%	750,000	USD	750,000	1.000%	Quarterly	Jun 2026	(34,369)	2,950	(31,419)
					$1,050,000				$(47,241)	$38,813	$(8,428)

Derivatives Currency Abbreviations
CAD	Canadian Dollar
EUR	Euro
MXN	Mexican Peso
USD	U.S. Dollar

Derivatives Abbreviations
BNP	BNP Paribas
JPM	JPMorgan Chase Bank, N.A.
MSCS	Morgan Stanley Capital Services LLC
OTC	Over-the-counter

See Notes to financial statements regarding investment transactions and other derivatives information.

Investment Quality Bond Trust

		Shares or Principal Amount	Value		% of Net Assets
U.S. GOVERNMENT AND AGENCY OBLIGATIONS - 67.0%
U.S. Treasury Bonds - 17.4%
1.250%, 05/15/2050	$	1,335,000	$	1,090,059	0.4%
1.875%, 02/15/2051		2,545,000		2,428,884	0.9%
2.250%, 05/15/2041 to 08/15/2046		6,380,000		6,622,855	2.4%
2.500%, 02/15/2045 (A)		1,204,000		1,302,672	0.5%
2.875%, 05/15/2043		1,170,000		1,345,591	0.5%
3.000%, 11/15/2044 to 02/15/2048		9,220,000		10,921,628	4.0%
3.125%, 08/15/2044 (A)		5,535,000		6,642,649	2.4%
3.125%, 05/15/2048		3,205,000		3,908,723	1.4%

Investment Quality Bond Trust (continued)

		Shares or Principal Amount	Value		% of Net Assets
U.S. GOVERNMENT AND AGENCY OBLIGATIONS (continued)
U.S. Treasury Bonds (continued)
3.375%, 05/15/2044	$	1,690,000	$	2,107,285	0.8%
3.625%, 08/15/2043		680,000		875,819	0.3%
3.750%, 11/15/2043 (A)		2,908,000		3,817,204	1.4%
4.375%, 11/15/2039		1,170,000		1,627,625	0.6%
6.500%, 11/15/2026		3,135,000		4,050,028	1.5%
OTHER SECURITIES				706,046	0.3%
				47,447,068
U.S. Treasury Inflation Protected Securities - 1.0%
0.875%, 02/15/2047		1,000,939		1,287,041	0.5%

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Investment Quality Bond Trust (continued)

		Shares or Principal Amount	Value		% of Net Assets
U.S. GOVERNMENT AND AGENCY OBLIGATIONS (continued)
U.S. Treasury Inflation Protected Securities (continued)
OTHER SECURITIES			$	1,539,340	0.5%
				2,826,381
U.S. Treasury Notes - 9.3%
0.250%, 06/30/2025	$	3,705,000		3,639,294	1.3%
0.375%, 01/31/2026		1,610,000		1,577,737	0.6%
0.625%, 05/15/2030 (A)		8,095,000		7,566,612	2.8%
0.625%, 08/15/2030		1,590,000		1,481,309	0.5%
0.875%, 11/15/2030		1,425,000		1,355,086	0.5%
1.625%, 05/15/2031		2,120,000		2,152,959	0.8%
2.750%, 02/15/2028		6,865,000		7,564,104	2.8%
				25,337,101
Federal Home Loan Mortgage Corp. - 0.7%
3.500%, 03/01/2048 to 06/01/2048		1,227,356		1,292,304	0.5%
OTHER SECURITIES				519,799	0.2%
				1,812,103
Federal National Mortgage Association - 27.7%
1.500%, TBA (B)		4,000,000		4,046,059	1.5%
2.000%, TBA (B)		39,890,000		40,415,688	14.8%
2.500%, 07/01/2030 to 04/01/2045		919,585		957,304	0.3%
2.500%, TBA (B)		3,000,000		3,099,960	1.2%
2.660%, 03/01/2027		796,952		856,783	0.3%
3.000%, TBA (B)		8,600,000		8,985,826	3.3%
3.500%, 06/01/2046 to 05/01/2048		4,325,920		4,575,760	1.7%
4.000%, TBA (B)		5,800,000		6,175,640	2.3%
4.500%, TBA (B)		3,300,000		3,550,333	1.3%
5.000%, TBA (B)		1,800,000		1,971,886	0.7%
OTHER SECURITIES				773,359	0.3%
				75,408,598
Government National Mortgage Association - 10.9%
2.000%, TBA (B)		4,200,000		4,278,857	1.6%
3.000%, TBA (B)		11,500,000		11,997,070	4.4%
3.500%, TBA (B)		5,400,000		5,673,331	2.1%
4.000%, TBA (B)		2,600,000		2,744,976	1.0%
4.500%, TBA (B)		4,600,000		4,903,447	1.8%
OTHER SECURITIES				230,226	0.0%
				29,827,907
TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $180,573,835)			$	182,659,158
FOREIGN GOVERNMENT OBLIGATIONS - 5.4%
Angola - 0.2%				413,300	0.2%
Argentina - 0.0%				51,139	0.0%
Australia - 0.1%				304,525	0.1%
Bermuda - 0.1%				199,500	0.1%
Brazil - 0.4%
Federative Republic of Brazil 10.000%, 01/01/2031	BRL	5,476,000		1,159,621	0.4%
Chile - 0.1%				240,240	0.1%
Colombia - 0.2%				642,407	0.2%
Croatia - 0.2%				635,723	0.2%
Dominican Republic - 0.2%				456,875	0.2%
Egypt - 0.1%				222,621	0.1%
Ghana - 0.1%				200,884	0.1%
Hungary - 0.1%				245,879	0.1%

Investment Quality Bond Trust (continued)

		Shares or Principal Amount	Value		% of Net Assets
FOREIGN GOVERNMENT OBLIGATIONS (continued)
Indonesia - 0.2%			$	613,277	0.2%
Macedonia - 0.2%				607,155	0.2%
Mexico - 1.3%
Government of Mexico 7.750%, 05/29/2031	MXN	35,584,600		1,884,267	0.7%
OTHER SECURITIES				1,693,466	0.6%
				3,577,733
Panama - 0.3%				818,158	0.3%
Peru - 0.1%				371,505	0.1%
Philippines - 0.2%				633,018	0.2%
Romania - 0.5%				1,294,896	0.5%
Saudi Arabia - 0.3%				665,443	0.3%
Senegal - 0.2%				515,347	0.2%
Serbia - 0.1%				382,588	0.1%
Tunisia - 0.1%				217,408	0.1%
United Arab Emirates - 0.1%				282,741	0.1%
TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $14,727,088)			$	14,751,983
CORPORATE BONDS - 31.7%
Communication services - 3.7%
AT&T, Inc. 3.550%, 09/15/2055 (C)	$	798,000		800,676	0.3%
OTHER SECURITIES				9,242,445	3.4%
				10,043,121
Consumer discretionary - 1.7%				4,523,634	1.7%
Consumer staples - 1.5%				4,084,616	1.5%
Energy - 2.1%				5,805,730	2.1%
Financials - 8.4%
Bank of America Corp. (3.366% to 1-23-25, then 3 month LIBOR + 0.810%) 01/23/2026		740,000		797,864	0.3%
OTHER SECURITIES				22,150,001	8.1%
				22,947,865
Health care - 3.1%				8,390,664	3.1%
Industrials - 2.2%				6,110,576	2.2%
Information technology - 3.9%
Black Knight InfoServ LLC 3.625%, 09/01/2028 (C)		824,000		819,847	0.3%
OTHER SECURITIES				9,836,264	3.6%
				10,656,111
Materials - 1.3%				3,407,272	1.3%
Real estate - 0.7%				1,945,942	0.7%
Utilities - 3.1%				8,518,161	3.1%
TOTAL CORPORATE BONDS (Cost $81,865,694)			$	86,433,692
MUNICIPAL BONDS - 2.3%
Metropolitan Transportation Authority (New York) 5.175%, 11/15/2049		705,000		951,726	0.4%
New York Transportation Development Corp. 4.248%, 09/01/2035		785,000		869,652	0.3%

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Investment Quality Bond Trust (continued)

		Shares or Principal Amount	Value		% of Net Assets
MUNICIPAL BONDS (continued)
Philadelphia Authority for Industrial Development (Pennsylvania) 6.550%, 10/15/2028	$	675,000	$	877,283	0.3%
OTHER SECURITIES				3,477,589	1.3%
TOTAL MUNICIPAL BONDS (Cost $5,492,732)			$	6,176,250
TERM LOANS (D) - 3.3%
Communication services - 0.2%				469,436	0.2%
Consumer discretionary - 0.6%				1,706,238	0.6%
Consumer staples - 0.2%				464,779	0.2%
Financials - 0.1%				353,703	0.1%
Health care - 0.5%				1,204,557	0.5%
Industrials - 0.8%				2,250,215	0.8%
Information technology - 0.8%				2,190,691	0.8%
Materials - 0.1%				340,173	0.1%
TOTAL TERM LOANS (Cost $8,999,778)			$	8,979,792
COLLATERALIZED MORTGAGE OBLIGATIONS - 15.5%
Commercial and residential - 12.3%
BBCMS Mortgage Trust Series 2017-DELC, Class A (1 month LIBOR + 0.850%), 0.951%, 08/15/2036 (C)(E)		949,000		949,879	0.4%
Commercial Mortgage Trust (Bank of America Merrill Lynch/Deutsche Bank AG) Series 2013-WWP, Class A2, 3.424%, 03/10/2031 (C)		800,000		835,507	0.3%
OTHER SECURITIES				31,861,302	11.6%
				33,646,688
Federal Home Loan Mortgage Corp. - 1.1%				2,899,471	1.1%
Federal National Mortgage Association - 2.0%				5,549,866	2.0%
Government National Mortgage Association - 0.1%				154,655	0.1%
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $41,666,492)			$	42,250,680
ASSET BACKED SECURITIES - 8.7%
BlueMountain CLO XXXI, Ltd. Series 2021-31A, Class A1 (3 month LIBOR + 1.150%), 1.330%, 04/19/2034 (C)(E)		810,000		809,997	0.3%
CIFC Funding, Ltd. Series 2017-2A, Class AR (3 month LIBOR + 0.950%), 1.118%, 04/20/2030 (C)(E)		900,000		900,024	0.3%
Shackleton VIII CLO, Ltd. Series 2015-8A, Class A1R (3 month LIBOR + 0.920%), 1.108%, 10/20/2027 (C)(E)		1,004,529		1,004,561	0.4%
OTHER SECURITIES				20,948,582	7.7%
TOTAL ASSET BACKED SECURITIES (Cost $23,647,755)			$	23,663,164

Investment Quality Bond Trust (continued)

		Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS - 0.0%
Energy - 0.0%			$	8,039	0.0%
TOTAL COMMON STOCKS (Cost $119,522)			$	8,039
PURCHASED OPTIONS - 0.1%
Puts - 0.1%				91,675	0.1%
TOTAL PURCHASED OPTIONS (Cost $297,615)			$	91,675
SHORT-TERM INVESTMENTS - 2.3%
Short-term funds - 0.2%
John Hancock Collateral Trust, 0.0324% (F)(G)		61,096		611,242	0.2%
Repurchase agreement - 2.1%
Deutsche Bank Tri-Party Repurchase Agreement dated 6-30-21 at 0.050% to be repurchased at $5,700,008 on 7-1-21, collateralized by $5,527,463 Federal National Mortgage Association, 2.500% due 11-1-50 (valued at $5,814,000)	$	5,700,000		5,700,000	2.1%
TOTAL SHORT-TERM INVESTMENTS (Cost $6,311,256)			$	6,311,242
Total Investments (Investment Quality Bond Trust) (Cost $363,701,767) - 136.3%			$	371,325,675	136.3%
Other assets and liabilities, net - (36.3)%				(98,835,107)	(36.3%)
TOTAL NET ASSETS - 100.0%			$	272,490,568	100.0%

Currency Abbreviations
BRL	Brazilian Real
MXN	Mexican Peso

Security Abbreviations and Legend
LIBOR	London Interbank Offered Rate
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.
(A)	All or a portion of this security is segregated at the custodian as collateral for certain derivatives.
(B)	Security purchased or sold on a when-issued or delayed delivery basis.
(C)	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. Rule 144A securities amounted to $78,245,277 or 28.7% of the fund's net assets as of 6-30-21.
(D)	Term loans are variable rate obligations. The coupon rate shown represents the rate at period end.
(E)	Variable rate obligation. The coupon rate shown represents the rate at period end.
(F)	The rate shown is the annualized seven-day yield as of 6-30-21.
(G)	Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending.

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Investment Quality Bond Trust (continued)

DERIVATIVES

FUTURES

Open contracts	Number of contracts	Position	Expiration date	Notional basis^	Notional value^	Unrealized appreciation (depreciation)
2-Year U.S. Treasury Note Futures	55	Long	Sep 2021	$12,136,686	$12,117,617	$(19,069)
Euro-OAT Futures	18	Long	Sep 2021	3,381,668	3,394,471	12,803
10-Year Australian Treasury Bond Futures	19	Short	Sep 2021	(2,011,112)	(2,013,425)	(2,313)
10-Year U.S. Treasury Note Futures	89	Short	Sep 2021	(11,748,883)	(11,792,500)	(43,617)
5-Year U.S. Treasury Note Futures	151	Short	Sep 2021	(18,682,572)	(18,637,853)	44,719
Euro-BTP Italian Government Bond Futures	18	Short	Sep 2021	(3,209,934)	(3,231,620)	(21,686)
Euro-Buxl Futures	4	Short	Sep 2021	(948,690)	(963,967)	(15,277)
German Euro BUND Futures	29	Short	Sep 2021	(5,904,318)	(5,935,498)	(31,180)
U.K. Long Gilt Bond Futures	19	Short	Sep 2021	(3,345,590)	(3,366,814)	(21,224)
U.S. Treasury Long Bond Futures	44	Short	Sep 2021	(6,879,154)	(7,073,000)	(193,846)
Ultra U.S. Treasury Bond Futures	72	Short	Sep 2021	(10,440,765)	(10,598,625)	(157,860)
Ultra U.S. Treasury Bond Futures	30	Short	Sep 2021	(5,540,570)	(5,780,625)	(240,055)
						$(688,605)

^ 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

Contract to buy		Contract to sell		Counterparty (OTC)	Contractual settlement date	Unrealized appreciation	Unrealized depreciation
USD	349,239	AUD	450,000	MSI	9/15/2021	$11,656	—
USD	589,641	BRL	3,010,000	CITI	9/15/2021	—	$(10,053)
USD	136,284	EUR	114,000	BNP	7/30/2021	1,030	—
USD	5,732,129	EUR	4,706,000	CITI	9/15/2021	143,495	—
USD	213,473	EUR	175,000	DB	9/15/2021	5,651	—
USD	229,266	EUR	188,000	JPM	9/15/2021	6,006	—
USD	1,287,283	MXN	25,710,000	GSI	9/15/2021	9,471	—
						$177,309	$(10,053)

WRITTEN OPTIONS

Interest rate swaptions
Description	Counterparty (OTC)	Floating rate index	Pay/receive floating rate	Exercise rate	Expiration date		Notional amount*	Premium	Value
Puts
5-Year Interest Rate Swap	BOA	3 month USD LIBOR	Pay	1.500%	Mar 2022	USD	8,705,000	$87,050	$(49,147)
5-Year Interest Rate Swap	CITI	3 month USD LIBOR	Pay	1.500%	Mar 2022	USD	8,370,000	92,070	(47,252)
								$179,120	$(96,399)
* For this type of option, notional amounts are equivalent to number of contracts.

SWAPS

Interest rate swaps
Counterparty (OTC)/ Centrally cleared	Notional amount	Currency	Payments made	Payments received	Fixed payment frequency	Floating payment frequency	Maturity date	Unamortized upfront payment paid (received)	Unrealized appreciation (depreciation)	Value
Centrally cleared	2,155,000	USD	Fixed 0.075%	USD Compounded SOFR	Annual	Annual	Aug 2025	$(207)	$46,696	$46,489
Centrally cleared	4,935,000	USD	Fixed 0.750%	USD LIBOR BBA	Semi-Annual	Quarterly	Dec 2030	(16,744)	303,678	286,934
Centrally cleared	2,460,000	USD	Fixed 1.160%	USD LIBOR BBA	Semi-Annual	Quarterly	Dec 2040	—	234,108	234,108
Centrally cleared	1,605,000	USD	Fixed 0.810%	USD LIBOR BBA	Semi-Annual	Quarterly	Sep 2050	4,899	356,478	361,377
								$(12,052)	$940,960	$928,908

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Investment Quality Bond Trust (continued)

Credit default swaps - Buyer
Counterparty (OTC)/ Centrally cleared	Reference obligation	Notional amount	Currency	USD notional amount	Pay fixed rate	Fixed payment frequency	Maturity date	Unamortized upfront payment paid (received)	Unrealized appreciation (depreciation)	Value
Centrally cleared	CDX.NA.HY.36	1,145,000	USD	$1,145,000	5.000%	Quarterly	Jun 2026	$(113,875)	$(4,505)	$(118,380)
				$1,145,000				$(113,875)	$(4,505)	$(118,380)

Credit default swaps - Seller
Counterparty (OTC)/ Centrally cleared	Reference obligation	Implied credit spread	Notional amount	Currency	USD notional amount	Received fixed rate	Fixed payment frequency	Maturity date	Unamortized upfront payment paid (received)	Unrealized appreciation (depreciation)	Value
DB	CMBX.NA.BBB-.6	31.098%	110,000	USD	$110,000	3.000%	Monthly	May 2063	$(17,262)	$(11,567)	$(28,829)
GSI	CMBX.NA.BBB-.6	31.098%	140,000	USD	140,000	3.000%	Monthly	May 2063	(21,819)	(14,873)	(36,692)
GSI	CMBX.NA.BBB-.6	31.098%	1,335,000	USD	1,335,000	3.000%	Monthly	May 2063	(79,940)	(273,167)	(353,107)
GSI	CMBX.NA.BBB-.6	31.098%	1,390,000	USD	1,390,000	3.000%	Monthly	May 2063	(84,112)	(283,543)	(367,655)
MSI	CMBX.NA.BBB-.6	31.098%	255,000	USD	255,000	3.000%	Monthly	May 2063	(38,679)	(28,152)	(66,831)
MSI	CMBX.NA.BBB-.6	31.098%	130,000	USD	130,000	3.000%	Monthly	May 2063	(20,048)	(14,023)	(34,071)
MSI	CMBX.NA.BBB-.6	31.098%	115,000	USD	115,000	3.000%	Monthly	May 2063	(18,073)	(12,067)	(30,140)
MSI	CMBX.NA.BBB-.6	31.098%	69,000	USD	69,000	3.000%	Monthly	May 2063	(10,849)	(7,235)	(18,084)
					$3,544,000				$(290,782)	$(644,627)	$(935,409)
Centrally cleared	CDX.EM.35	1.549%	1,315,000	USD	1,315,000	1.000%	Quarterly	Jun 2026	(45,593)	11,774	(33,819)
Centrally cleared	CDX.NA.IG.36	0.479%	490,000	USD	490,000	1.000%	Quarterly	Jun 2026	10,267	2,336	12,603
Centrally cleared	Federative Republic of Brazil	1.620%	150,000	USD	150,000	1.000%	Quarterly	Jun 2026	(4,630)	209	(4,421)
Centrally cleared	Government of Mexico	0.929%	160,000	USD	160,000	1.000%	Quarterly	Jun 2026	106	494	600
Centrally cleared	Republic of Colombia	1.362%	915,000	USD	915,000	1.000%	Quarterly	Jun 2026	(11,668)	(4,047)	(15,715)
Centrally cleared	Republic of Indonesia	0.749%	665,000	USD	665,000	1.000%	Quarterly	Jun 2026	3,584	4,759	8,343
Centrally cleared	Republic of Panama	0.666%	210,000	USD	210,000	1.000%	Quarterly	Jun 2026	1,787	1,714	3,501
Centrally cleared	Republic of Peru	0.821%	445,000	USD	445,000	1.000%	Quarterly	Jun 2026	3,003	1,018	4,021
Centrally cleared	Russian Federation	0.832%	145,000	USD	145,000	1.000%	Quarterly	Jun 2026	350	884	1,234
					$4,495,000				$(42,794)	$19,141	$(23,653)
					$8,039,000				$(333,576)	$(625,486)	$(959,062)

Derivatives Currency Abbreviations
AUD	Australian Dollar
BRL	Brazilian Real
EUR	Euro
MXN	Mexican Peso
USD	U.S. Dollar

Derivatives Abbreviations
BBA	The British Banker's Association
BNP	BNP Paribas
BOA	Bank of America, N.A.
CITI	Citibank, N.A.
DB	Deutsche Bank AG
GSI	Goldman Sachs International
JPM	JPMorgan Chase Bank, N.A.
LIBOR	London Interbank Offered Rate
MSI	Morgan Stanley & Co. International PLC
OTC	Over-the-counter
SOFR	Secured Overnight Financing Rate

See Notes to financial statements regarding investment transactions and other derivatives information.

Money Market Trust

		Shares or Principal Amount	Value		% of Net Assets
U.S. GOVERNMENT - 27.0%
U.S. Treasury Bills - 19.5%
0.010%, 08/26/2021	$	86,720,300	$	86,718,951	4.1%
0.010%, 08/12/2021		34,815,100		34,814,694	1.6%

Money Market Trust (continued)

		Shares or Principal Amount	Value		% of Net Assets
U.S. GOVERNMENT (continued)
U.S. Treasury Bills (continued)
0.010%, 08/19/2021	$	69,590,800	$	69,589,853	3.3%
0.030%, 07/27/2021		155,354,500		155,351,134	7.3%

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Money Market Trust (continued)

		Shares or Principal Amount	Value		% of Net Assets
U.S. GOVERNMENT (continued)
U.S. Treasury Bills (continued)
0.035%, 09/23/2021	$	34,522,400	$	34,519,581	1.6%
0.041%, 07/20/2021		34,550,000		34,549,271	1.6%
				415,543,484
U.S. Treasury Notes - 7.5%
0.048%, 08/31/2021		28,372,600		28,464,385	1.3%
0.051%, 04/30/2022		17,338,200		17,598,455	0.8%
0.077%, 08/15/2021		49,241,800		49,405,437	2.3%
0.090%, (3 month USBMMY + 0.055%), 07/31/2022 (A)		27,763,300		27,768,169	1.3%
0.095%, 03/31/2022		17,810,500		17,847,606	0.9%
OTHER SECURITIES				17,288,074	0.9%
				158,372,126
TOTAL U.S. GOVERNMENT (Cost $573,915,610)			$	573,915,610
U.S. GOVERNMENT AGENCY - 72.2%
Federal Agricultural Mortgage Corp. - 15.1%
0.010%, 07/01/2021		69,050,000		69,050,000	3.2%
0.010%, 08/16/2021		20,875,000		20,874,733	1.0%
0.024%, (3 month LIBOR - 0.120%), 12/22/2021 (A)		55,657,000		55,654,698	2.6%
0.033%, (3 month LIBOR - 0.130%), 08/13/2021 (A)		20,817,000		20,816,934	1.0%
0.050%, 10/29/2021		17,451,000		17,451,000	0.8%
0.091%, (SOFR + 0.040%), 09/28/2021 (A)		40,000,000		40,000,000	1.9%
0.096%, (1 month LIBOR), 07/28/2021 (A)		36,845,000		36,845,000	1.7%
OTHER SECURITIES				61,282,499	2.9%
				321,974,864
Federal Farm Credit Bank - 15.3%
0.005%, (1 month LIBOR - 0.070%), 08/11/2021 (A)		17,700,000		17,700,000	0.8%
0.064%, (1 month LIBOR), 12/22/2021 (A)		24,588,000		24,591,356	1.2%
0.117%, 01/06/2022		17,520,000		17,517,590	0.8%
0.142%, (SOFR + 0.090%), 07/15/2021 (A)		18,472,000		18,472,000	0.9%
0.157%, (Prime rate - 3.095%), 04/20/2022 (A)		28,319,000		28,319,000	1.3%
0.198%, (U.S. Federal Funds Effective Rate + 0.095%), 07/26/2021 (A)		15,093,000		15,093,000	0.7%
0.265%, (3 month USBMMY + 0.290%), 04/11/2022 (A)		15,382,000		15,391,509	0.7%
OTHER SECURITIES				187,585,152	8.9%
				324,669,607
Federal Home Loan Bank - 34.1%
0.007%, (3 month LIBOR - 0.095%), 09/13/2021 (A)		30,430,000		30,431,071	1.4%
0.008%, 07/28/2021		16,000,000		15,999,904	0.8%
0.010%, 07/30/2021		51,912,000		51,911,582	2.4%
0.010%, 08/11/2021		21,830,000		21,829,744	1.0%
0.010%, 08/16/2021		17,289,000		17,288,779	0.8%
0.015%, 08/06/2021		40,164,000		40,163,398	1.9%
0.018%, 07/16/2021		35,115,000		35,114,737	1.7%
0.018%, 08/04/2021		23,089,000		23,088,619	1.1%
0.023%, 09/03/2021		17,305,000		17,304,743	0.8%
0.025%, 09/20/2021		17,316,000		17,315,026	0.8%
0.029%, 07/14/2021		15,945,000		15,951,199	0.8%

Money Market Trust (continued)

		Shares or Principal Amount	Value		% of Net Assets
U.S. GOVERNMENT AGENCY (continued)
Federal Home Loan Bank (continued)
0.030%, (1 month LIBOR - 0.020%), 12/17/2021 (A)	$	50,260,000	$	50,267,715	2.4%
0.031%, 07/21/2021		45,590,000		45,589,231	2.1%
0.037%, (3 month LIBOR - 0.105%), 08/04/2021 (A)		47,400,000		47,401,534	2.2%
0.041%, 08/25/2021		15,466,000		15,465,055	0.7%
0.044%, 09/29/2021		44,489,000		44,484,218	2.1%
0.046%, 09/29/2021		21,000,000		20,999,692	1.0%
0.046%, 08/18/2021		34,550,000		34,547,927	1.6%
0.056%, 08/02/2021		17,545,000		17,544,907	0.8%
0.059%, (1 month LIBOR - 0.025%), 08/27/2021 (A)		36,835,000		36,835,706	1.7%
0.066%, (SOFR + 0.015%), 12/10/2021 (A)		18,015,000		18,015,000	0.9%
0.112%, (SOFR + 0.060%), 11/23/2022 (A)		18,370,000		18,370,000	0.9%
OTHER SECURITIES				90,290,427	4.2%
				726,210,214
Federal Home Loan Mortgage Corp. - 1.3%				28,312,742	1.3%
Federal National Mortgage Association - 1.4%
0.243%, (SOFR + 0.190%), 05/19/2022 (A)		14,746,000		14,746,000	0.7%
OTHER SECURITIES				14,906,074	0.7%
				29,652,074
Tennessee Valley Authority - 4.8%
0.048%, 07/28/2021		102,324,000		102,320,361	4.8%
U.S. Department of Housing and Urban Development - 0.2%				4,796,916	0.2%
TOTAL U.S. GOVERNMENT AGENCY (Cost $1,537,936,778)			$	1,537,936,778
REPURCHASE AGREEMENT - 0.8%
Barclays Tri-Party Repurchase Agreement dated 6-30-21 at 0.050% to be repurchased at $16,900,023 on 7-1-21, collateralized by $15,858,736 U.S. Treasury Inflation Indexed Notes, 0.125% due 4-15-26 (valued at $17,238,075)		16,900,000		16,900,000	0.8%
TOTAL REPURCHASE AGREEMENT (Cost $16,900,000)			$	16,900,000
Total Investments (Money Market Trust) (Cost $2,128,752,388) - 100.0%			$	2,128,752,388	100.0%
Other assets and liabilities, net - (0.0)%				(73,428)	(0.0%)
TOTAL NET ASSETS - 100.0%			$	2,128,678,960	100.0%

Security Abbreviations and Legend
LIBOR	London Interbank Offered Rate
SOFR	Secured Overnight Financing Rate
USBMMY	U.S. Treasury Bill Money Market Yield
(A)	Variable rate obligation.

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Opportunistic Fixed Income Trust

		Shares or Principal Amount	Value		% of Net Assets
U.S. GOVERNMENT AND AGENCY OBLIGATIONS - 0.4%
U.S. Treasury Inflation Protected Securities - 0.4%
0.125%, 02/15/2051 (A)	$	758,848	$	832,974	0.4%
				832,974
TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $816,815)			$	832,974
FOREIGN GOVERNMENT OBLIGATIONS - 42.6%
Argentina - 0.2%				498,814	0.2%
Australia - 2.1%
Commonwealth of Australia 3.000%, 03/21/2047	AUD	5,175,000		4,440,282	2.1%
Bermuda - 0.1%				199,500	0.1%
Brazil - 2.4%
10.000% 01/01/2025 to 01/01/2029	BRL	23,357,000		4,982,546	2.4%
Bulgaria - 0.2%				412,713	0.2%
Canada - 1.0%
Government of Canada 2.750%, 12/01/2048	CAD	1,180,000		1,142,409	0.5%
OTHER SECURITIES				951,789	0.5%
				2,094,198
Chile - 0.5%				1,074,540	0.5%
Colombia - 0.9%
Republic of Colombia 3.875%, 03/22/2026	EUR	670,000		886,461	0.4%
OTHER SECURITIES				916,636	0.5%
				1,803,097
Croatia - 0.2%				370,324	0.2%
Czech Republic - 0.2%				366,665	0.2%
Dominican Republic - 0.1%				281,650	0.1%
Egypt - 0.1%				121,715	0.1%
Germany - 2.1%
Federal Republic of Germany, Inflation Linked Bond 0.500%, 04/15/2030		3,055,215		4,369,003	2.1%
Ghana - 0.1%				252,433	0.1%
Greece - 0.6%
Republic of Greece, GDP-Linked Note 4.397%, 10/15/2042 (B)*		409,185,000		1,310,016	0.6%
Honduras - 0.1%				156,975	0.1%
Hungary - 0.7%
Republic of Hungary 1.625%, 04/28/2032		520,000		655,676	0.3%
OTHER SECURITIES				860,597	0.4%
				1,516,273
Iceland - 1.8%
Republic of Iceland 5.000%, 11/15/2028	ISK	433,770,000		3,872,057	1.8%
Indonesia - 2.1%
Republic of Indonesia 8.375%, 03/15/2034	IDR	33,135,000,000		2,526,761	1.2%
Republic of Indonesia 9.000%, 03/15/2029		11,324,000,000		903,832	0.4%
OTHER SECURITIES				944,119	0.5%
				4,374,712

Opportunistic Fixed Income Trust (continued)

		Shares or Principal Amount	Value		% of Net Assets
FOREIGN GOVERNMENT OBLIGATIONS (continued)
Israel - 1.7%
State of Israel 3.750%, 03/31/2047	ILS	8,740,000	$	3,473,588	1.7%
Ivory Coast - 0.1%				236,762	0.1%
Japan - 4.6%
Government of Japan, CPI Linked Bond 0.100%, 03/10/2028	JPY	1,047,885,084		9,668,142	4.6%
Jordan - 0.1%				207,808	0.1%
Kazakhstan - 0.3%				703,631	0.3%
Macedonia - 0.2%				447,674	0.2%
Malaysia - 0.3%
Government of Malaysia 3.899%, 11/16/2027	MYR	2,680,000		680,883	0.3%
Mexico - 1.3%
Government of Mexico 3.625%, 04/09/2029	EUR	550,000		762,810	0.3%
Government of Mexico 4.000%, 11/15/2040	MXN	19,342,262		1,046,165	0.5%
Government of Mexico 7.500%, 06/03/2027		16,859,300		881,430	0.4%
OTHER SECURITIES				150,788	0.1%
				2,841,193
Morocco - 0.3%				635,974	0.3%
New Zealand - 0.9%
2.500% 09/20/2035 to 09/20/2040	NZD	1,459,226		1,385,182	0.7%
OTHER SECURITIES				471,393	0.2%
				1,856,575
Norway - 2.3%
Kingdom of Norway 1.375%, 08/19/2030 (C)	NOK	20,150,000		2,348,326	1.1%
Kingdom of Norway 1.750%, 09/06/2029 (C)		21,131,000		2,539,311	1.2%
				4,887,637
Oman - 0.1%				198,750	0.1%
Panama - 0.9%
4.500% 04/16/2050 to 04/01/2056	$	1,560,000		1,765,520	0.8%
OTHER SECURITIES				203,970	0.1%
				1,969,490
Paraguay - 0.1%				235,000	0.1%
Peru - 0.2%				433,364	0.2%
Philippines - 0.3%				578,442	0.3%
Poland - 0.5%
Republic of Poland 3.250%, 07/25/2025	PLN	2,580,000		736,631	0.3%
OTHER SECURITIES				387,876	0.2%
				1,124,507
Qatar - 0.1%				242,409	0.1%
Romania - 0.9%
Republic of Romania 2.625%, 12/02/2040 (C)	EUR	540,000		633,978	0.3%
Republic of Romania 3.875%, 10/29/2035		520,000		723,331	0.4%
OTHER SECURITIES				478,919	0.2%
				1,836,228
Russia - 3.0%
Government of Russia 6.900%, 05/23/2029	RUB	240,040,000		3,269,796	1.6%

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Opportunistic Fixed Income Trust (continued)

		Shares or Principal Amount	Value		% of Net Assets
FOREIGN GOVERNMENT OBLIGATIONS (continued)
Russia (continued)
Government of Russia 7.050%, 01/19/2028	RUB	82,055,000	$	1,129,256	0.5%
Government of Russia 7.650%, 04/10/2030		84,090,000		1,196,614	0.6%
OTHER SECURITIES				620,117	0.3%
				6,215,783
Saudi Arabia - 0.7%
Kingdom of Saudi Arabia 2.000%, 07/09/2039	EUR	680,000		831,116	0.4%
Kingdom of Saudi Arabia 2.250%, 02/02/2033 (C)	$	667,000		647,957	0.3%
				1,479,073
Senegal - 0.2%				412,059	0.2%
Serbia - 0.1%				115,936	0.1%
Slovenia - 0.2%				368,745	0.2%
South Africa - 0.3%
Republic of South Africa 7.000%, 02/28/2031	ZAR	11,880,000		713,051	0.3%
South Korea - 5.8%
1.375% 12/10/2029 to 06/10/2030	KRW	12,813,320,000		10,785,517	5.1%
Republic of Korea, Inflation Linked Bond 1.750%, 06/10/2028		1,474,094,515		1,394,735	0.7%
				12,180,252
Thailand - 1.3%
Kingdom of Thailand 2.875%, 12/17/2028	THB	80,250,000		2,767,088	1.3%
Turkey - 0.1%				145,091	0.1%
Ukraine - 0.1%				209,978	0.1%
United Arab Emirates - 0.1%				186,203	0.1%
Uruguay - 0.0%				15,911	0.0%
TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $91,248,679)			$	89,564,740
CORPORATE BONDS - 20.0%
Canada - 0.3%				624,629	0.3%
Cayman Islands - 0.1%				254,668	0.1%
Chile - 0.2%				436,369	0.2%
China - 0.4%				894,533	0.4%
Finland - 0.5%
Nokia OYJ 6.625%, 05/15/2039	$	825,000		1,068,375	0.5%
				1,068,375
France - 0.2%				475,979	0.2%
Indonesia - 0.1%				252,500	0.1%
Ireland - 0.1%				90,384	0.1%
Italy - 0.1%				97,232	0.1%
Japan - 0.2%				423,750	0.2%
Luxembourg - 0.3%				629,246	0.3%
Malaysia - 0.1%				204,218	0.1%
Morocco - 0.1%				216,957	0.1%
Netherlands - 0.4%				792,487	0.4%
Norway - 0.0%				48,884	0.0%
Spain - 0.1%				241,874	0.1%
United Arab Emirates - 0.2%				433,898	0.2%
United Kingdom - 0.3%				590,982	0.3%

Opportunistic Fixed Income Trust (continued)

		Shares or Principal Amount	Value		% of Net Assets
CORPORATE BONDS (continued)
United States - 16.3%
Black Knight InfoServ LLC 3.625%, 09/01/2028 (C)	$	675,000	$	671,598	0.3%
Booz Allen Hamilton, Inc. 3.875%, 09/01/2028 (C)		640,000		652,800	0.3%
CDW LLC 3.250%, 02/15/2029		649,000		657,567	0.3%
FirstCash, Inc. 4.625%, 09/01/2028 (C)		696,000		727,564	0.4%
Home Point Capital, Inc. 5.000%, 02/01/2026 (C)		729,000		679,793	0.3%
MSCI, Inc. 3.875%, 02/15/2031 (C)		980,013		1,016,980	0.5%
Reynolds American, Inc. 5.850%, 08/15/2045		580,000		710,184	0.3%
The William Carter Company 5.625%, 03/15/2027 (C)		618,000		650,260	0.3%
United Wholesale Mortgage LLC 5.500%, 11/15/2025 to 04/15/2029 (C)		931,000		934,827	0.5%
Viper Energy Partners LP 5.375%, 11/01/2027 (C)		640,000		666,694	0.3%
OTHER SECURITIES				26,834,453	12.8%
				34,202,720
TOTAL CORPORATE BONDS (Cost $40,760,154)			$	41,979,685
CONVERTIBLE BONDS - 1.6%
Israel - 0.0%				25,050	0.0%
Italy - 0.1%				146,418	0.1%
Spain - 0.0%				115,848	0.0%
United Kingdom - 0.2%				452,520	0.2%
United States - 1.3%				2,681,158	1.3%
TOTAL CONVERTIBLE BONDS (Cost $3,188,728)			$	3,420,994
MUNICIPAL BONDS - 3.4%
Commonwealth of Massachusetts, GO 2.514%, 07/01/2041		625,000		630,414	0.3%
OTHER SECURITIES				6,521,228	3.1%
TOTAL MUNICIPAL BONDS (Cost $6,801,342)			$	7,151,642
TERM LOANS (D) - 8.6%
France - 0.1%				164,967	0.1%
Germany - 0.0%				99,958	0.0%
Israel - 0.0%				99,240	0.0%
Luxembourg - 0.2%				403,880	0.2%
Netherlands - 0.2%				379,972	0.2%
Sweden - 0.2%				401,814	0.2%
United Kingdom - 0.1%				213,488	0.1%
United States - 7.8%
Deerfield Dakota Holding LLC, 2020 USD Term Loan B (1 month LIBOR + 3.750%) 4.750%, 04/09/2027		697,950		700,567	0.3%
OTHER SECURITIES				15,678,073	7.5%
				16,378,640
TOTAL TERM LOANS (Cost $17,689,920)			$	18,141,959

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Opportunistic Fixed Income Trust (continued)

	Shares or Principal Amount	Value		% of Net Assets
COLLATERALIZED MORTGAGE OBLIGATIONS - 8.7%
Cayman Islands - 0.0%		$	99,489	0.0%
United States - 8.7%			18,303,102	8.7%
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $17,661,776)		$	18,402,591
ASSET BACKED SECURITIES - 4.2%
Cayman Islands - 2.4%			5,102,344	2.4%
United States - 1.8%			3,749,066	1.8%
TOTAL ASSET BACKED SECURITIES (Cost $8,735,394)		$	8,851,410
PREFERRED SECURITIES - 0.0%
United States - 0.0%			41,852	0.0%
TOTAL PREFERRED SECURITIES (Cost $40,158)		$	41,852
EXCHANGE-TRADED FUNDS - 5.1%
United States - 5.1%
iShares JP Morgan USD Emerging Markets Bond ETF	83,900		9,435,394	4.5%
SPDR Blackstone Senior Loan ETF	15,000		694,350	0.3%
SPDR Bloomberg Barclays Convertible Securities ETF	7,600		659,148	0.3%
			10,788,892
TOTAL EXCHANGE-TRADED FUNDS (Cost $10,734,246)		$	10,788,892
SHORT-TERM INVESTMENTS - 4.0%
Short-term funds - 4.0%
State Street Institutional U.S. Government Money Market Fund, Premier Class (E)	8,342,089		8,342,089	4.0%
TOTAL SHORT-TERM INVESTMENTS (Cost $8,342,089)		$	8,342,089
Total Investments (Opportunistic Fixed Income Trust) (Cost $206,019,301) - 98.6%		$	207,518,828	98.6%
Other assets and liabilities, net - 1.4%			2,908,994	1.4%
TOTAL NET ASSETS - 100.0%		$	210,427,822	100.0%

Opportunistic Fixed Income Trust (continued)

Currency Abbreviations
AUD	Australian Dollar
BRL	Brazilian Real
CAD	Canadian Dollar
EUR	Euro
IDR	Indonesian Rupiah
ILS	Israeli New Shekel
ISK	Icelandic Krona
JPY	Japanese Yen
KRW	Korean Won
MXN	Mexican Peso
MYR	Malaysian Ringgit
NOK	Norwegian Krone
NZD	New Zealand Dollar
PLN	Polish Zloty
RUB	Russian Ruble
THB	Thai Bhat
ZAR	South African Rand

Security Abbreviations and Legend
CPI	Consumer Price Index
LIBOR	London Interbank Offered Rate
GO	General Obligation
(A)	All or a portion of this security is segregated at the custodian as collateral for certain derivatives.
(B)	Non-income producing security.
(C)	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. Rule 144A securities amounted to $51,745,253 or 24.6% of the fund's net assets as of 6-30-21.
(D)	Term loans are variable rate obligations. The coupon rate shown represents the rate at period end.
(E)	The rate shown is the annualized seven-day yield as of 6-30-21.
*	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.

DERIVATIVES

FUTURES

Open contracts	Number of contracts	Position	Expiration date	Notional basis^	Notional value^	Unrealized appreciation (depreciation)
10-Year Australian Treasury Bond Futures	52	Long	Sep 2021	$5,495,449	$5,510,425	$14,976
10-Year U.S. Treasury Note Futures	123	Long	Sep 2021	16,233,283	16,297,500	64,217
5-Year U.S. Treasury Note Futures	66	Long	Sep 2021	8,155,125	8,146,359	(8,766)
Euro SCHATZ Futures	1	Long	Sep 2021	132,995	132,970	(25)
Ultra U.S. Treasury Bond Futures	8	Long	Sep 2021	1,159,924	1,177,625	17,701
Ultra U.S. Treasury Bond Futures	24	Long	Sep 2021	4,432,125	4,624,500	192,375
10-Year Canada Government Bond Futures	8	Short	Sep 2021	(928,157)	(939,142)	(10,985)
10-Year Mini Japan Government Bond Futures	16	Short	Sep 2021	(2,181,730)	(2,185,661)	(3,931)
2-Year U.S. Treasury Note Futures	40	Short	Sep 2021	(8,825,762)	(8,812,812)	12,950
Euro-Buxl Futures	12	Short	Sep 2021	(2,859,115)	(2,891,902)	(32,787)
German Euro BOBL Futures	8	Short	Sep 2021	(1,271,744)	(1,272,547)	(803)
German Euro BUND Futures	69	Short	Sep 2021	(14,052,718)	(14,122,391)	(69,673)
U.K. Long Gilt Bond Futures	4	Short	Sep 2021	(704,343)	(708,803)	(4,460)
U.S. Treasury Long Bond Futures	76	Short	Sep 2021	(11,978,863)	(12,217,000)	(238,137)
						$(67,348)

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

FORWARD FOREIGN CURRENCY CONTRACTS

Contract to buy		Contract to sell		Counterparty (OTC)	Contractual settlement date	Unrealized appreciation	Unrealized depreciation
AUD	665,000	USD	504,428	GSI	7/30/2021	—	$(5,641)
BRL	21,224,000	USD	4,303,762	JPM	7/2/2021	—	(36,602)
BRL	21,224,000	USD	4,242,933	MSI	7/2/2021	$24,227	—
BRL	6,560,000	USD	1,327,156	GSI	7/30/2021	—	(12,140)
CAD	299,000	USD	242,736	JPM	7/30/2021	—	(1,533)
CHF	918,000	USD	999,361	BOA	7/30/2021	—	(6,459)
CLP	1,128,458,000	USD	1,546,680	SSB	7/30/2021	—	(11,135)
COP	7,021,523,000	USD	1,855,175	CITI	7/30/2021	13,261	—
CZK	26,351,000	USD	1,238,776	BOA	7/30/2021	—	(13,709)
EUR	1,164,000	USD	1,390,092	GSI	7/30/2021	—	(9,078)
EUR	4,305,000	USD	5,143,750	JPM	7/30/2021	—	(36,136)
GBP	4,161,000	USD	5,809,239	JPM	7/30/2021	—	(52,839)
IDR	46,731,000,000	USD	3,216,616	JPM	7/30/2021	—	(17,736)
INR	240,402,000	USD	3,230,558	JPM	7/30/2021	—	(8,009)
JPY	920,011,000	USD	8,302,562	MSI	7/30/2021	—	(19,361)
MXN	61,730,000	USD	3,069,800	BARC	7/30/2021	16,319	—
NOK	12,580,000	USD	1,477,833	MSI	7/30/2021	—	(16,558)
NZD	1,422,000	USD	1,004,700	MSI	7/30/2021	—	(10,784)
PLN	3,778,000	USD	996,290	JPM	7/30/2021	—	(5,329)
PLN	4,305,000	USD	1,140,379	MSI	7/30/2021	—	(11,187)
RUB	256,880,000	USD	3,540,633	BARC	7/30/2021	—	(44,585)
SGD	2,755,000	USD	2,051,613	BOA	7/30/2021	—	(2,829)
TRY	12,126,000	USD	1,370,991	BARC	7/30/2021	1,441	—
USD	7,344,923	AUD	9,683,000	GSI	7/30/2021	82,134	—
USD	4,242,933	BRL	21,224,000	JPM	7/2/2021	—	(24,227)
USD	4,011,567	BRL	21,224,000	MSI	7/2/2021	—	(255,592)
USD	4,290,364	BRL	21,224,000	JPM	8/3/2021	37,676	—
USD	5,552,895	CAD	6,840,000	JPM	7/30/2021	35,067	—
USD	20,955,950	EUR	17,533,000	JPM	7/30/2021	154,141	—
USD	645,006	GBP	462,000	JPM	7/30/2021	5,867	—
USD	2,313,623	HUF	678,358,000	BOA	7/30/2021	25,361	—
USD	1,084,332	IDR	15,753,176,000	JPM	7/30/2021	5,979	—
USD	3,546,532	ILS	11,533,000	BARC	7/30/2021	8,175	—
USD	9,478,470	JPY	1,050,314,000	MSI	7/30/2021	22,104	—
USD	13,234,164	KRW	14,971,148,000	BOA	7/30/2021	—	(13,592)
USD	1,052,388	MXN	20,952,000	GSI	7/30/2021	4,917	—
USD	8,087,317	NOK	68,843,000	MSI	7/30/2021	90,614	—
USD	4,988,879	NZD	7,061,000	MSI	7/30/2021	53,548	—
USD	5,214,301	RUB	378,308,000	BARC	7/30/2021	65,661	—
USD	3,216,688	SEK	27,247,000	MSI	7/30/2021	32,095	—
USD	3,188,750	SGD	4,282,000	BOA	7/30/2021	4,396	—
USD	717,685	THB	22,920,000	JPM	7/30/2021	2,607	—
USD	2,895,328	ZAR	41,237,000	JPM	7/30/2021	17,562	—
						$703,152	$(615,061)

SWAPS

Interest rate swaps
Counterparty (OTC)/ Centrally cleared	Notional amount	Currency	Payments made	Payments received	Fixed payment frequency	Floating payment frequency	Maturity date	Unamortized upfront payment paid (received)	Unrealized appreciation (depreciation)	Value
BOA	26,670,000	CNY	CNY CNREPOFIX Reuters	Fixed 2.340%	Quarterly	Quarterly	Sep 2025	$(4,053)	$(61,570)	$(65,623)
BOA	4,140,000	USD	Fixed 2.535%	USA CPI All Urban Consumers	At Maturity	At Maturity	Jun 2026	—	27,724	27,724
BOA	1,170,000	USD	Fixed 1.635%	USA CPI All Urban Consumers	At Maturity	At Maturity	Feb 2050	—	309,662	309,662
CITI	10,560,000	CNY	CNY CNREPOFIX Reuters	Fixed 2.390%	Quarterly	Quarterly	Jun 2025	—	(57,650)	(57,650)
CITI	41,170,000	CNY	CNY CNREPOFIX Reuters	Fixed 2.340%	Quarterly	Quarterly	Sep 2025	(79,001)	(22,231)	(101,232)
CITI	27,880,000	CNY	CNY CNREPOFIX Reuters	Fixed 2.340%	Quarterly	Quarterly	Sep 2025	(44,115)	(24,126)	(68,241)
CITI	1,830,000	ILS	ILS TELBOR Reuters	Fixed 1.493%	Annual	Quarterly	Sep 2031	—	13,345	13,345
CITI	3,460,000	ILS	ILS TELBOR Reuters	Fixed 1.442%	Annual	Quarterly	Sep 2031	—	20,076	20,076
JPM	2,330,000	USD	Fixed 1.830%	USA CPI All Urban Consumers	At Maturity	At Maturity	Feb 2050	(57,889)	532,114	474,225
								$(185,058)	$737,344	$552,286
Centrally cleared	2,550,000	CAD	CAD CORRA Compounded OIS	Fixed 0.013%	Semi-Annual	Semi-Annual	Sep 2026	—	3,471	3,471

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Opportunistic Fixed Income Trust (continued)

Interest rate swaps (continued)
Counterparty (OTC)/ Centrally cleared	Notional amount	Currency	Payments made	Payments received	Fixed payment frequency	Floating payment frequency	Maturity date	Unamortized upfront payment paid (received)	Unrealized appreciation (depreciation)	Value
Centrally cleared	2,550,000	CAD	CAD CORRA Compounded OIS	Fixed 0.013%	Semi-Annual	Semi-Annual	Sep 2026	—	$2,720	$2,720
Centrally cleared	2,935,000	CAD	CAD CORRA Compounded OIS	Fixed 1.283%	Semi-Annual	Semi-Annual	Nov 2026	—	(2,428)	(2,428)
Centrally cleared	2,415,000	CAD	CAD CORRA Compounded OIS	Fixed 1.266%	Semi-Annual	Semi-Annual	Nov 2026	—	(3,268)	(3,268)
Centrally cleared	7,270,000	PLN	Fixed 0.880%	PLN WIBOR WIBO	Annual	Semi-Annual	Sep 2030	$1,233	123,038	124,271
Centrally cleared	92,659,200	MXN	MXN TIIE Banxico	Fixed 7.130%	Monthly	Monthly	Jun 2031	32,015	18,372	50,387
Centrally cleared	84,380,000	MXN	MXN TIIE Banxico	Fixed 6.940%	Monthly	Monthly	Sep 2031	(1,514)	(44,203)	(45,717)
Centrally cleared	350,000	GBP	Fixed 0.800%	GBP SONIA Compounded OIS	Annual	Annual	Jun 2071	—	(22,627)	(22,627)
Centrally cleared	720,000	GBP	Fixed 0.840%	GBP SONIA Compounded OIS	Annual	Annual	Sep 2071	(28,042)	(34,182)	(62,224)
Centrally cleared	390,000	GBP	Fixed 0.710%	GBP SONIA Compounded OIS	Annual	Annual	Sep 2071	(151)	(4,523)	(4,674)
								$3,541	$36,370	$39,911
								$(181,517)	$773,714	$592,197

Credit default swaps - Buyer
Counterparty (OTC)/ Centrally cleared	Reference obligation	Notional amount	Currency	USD notional amount	Pay fixed rate	Fixed payment frequency	Maturity date	Unamortized upfront payment paid (received)	Unrealized appreciation (depreciation)	Value
BARC	Government of Malaysia	1,900,000	USD	$1,900,000	1.000%	Quarterly	Dec 2025	$(36,349)	$(19,355)	$(55,704)
CITI	Government of Malaysia	330,000	USD	330,000	1.000%	Quarterly	Dec 2025	(6,188)	(3,487)	(9,675)
CITI	Republic of Peru	345,000	USD	345,000	1.000%	Quarterly	Dec 2025	(5,931)	943	(4,988)
CITI	Federative Republic of Brazil	760,000	USD	760,000	1.000%	Quarterly	Jun 2026	21,211	(920)	20,291
CITI	Federative Republic of Brazil	765,000	USD	765,000	1.000%	Quarterly	Jun 2026	20,923	1,435	22,358
CITI	Republic of South Africa	780,000	USD	780,000	1.000%	Quarterly	Jun 2026	29,570	908	30,478
GSI	People's Republic of China	3,880,000	USD	3,880,000	1.000%	Quarterly	Dec 2024	(76,246)	(37,848)	(114,094)
GSI	CMBX.NA.AAA.12	1,380,000	USD	1,380,000	0.500%	Monthly	Aug 2061	(11,495)	(1,720)	(13,215)
GSI	CMBX.NA.AAA.12	1,380,000	USD	1,380,000	0.500%	Monthly	Aug 2061	(11,977)	(1,238)	(13,215)
GSI	CMBX.NA.AAA.13	1,380,000	USD	1,380,000	0.500%	Monthly	Dec 2072	(2,827)	(6,723)	(9,550)
GSI	CMBX.NA.AAA.13	1,390,000	USD	1,390,000	0.500%	Monthly	Dec 2072	(2,266)	(7,353)	(9,619)
GSI	CMBX.NA.AAA.13	1,400,000	USD	1,400,000	0.500%	Monthly	Dec 2072	(5,688)	(3,981)	(9,669)
GSI	CMBX.NA.AAA.13	1,405,000	USD	1,405,000	0.500%	Monthly	Dec 2072	(6,771)	(2,952)	(9,723)
JPM	Republic of Korea	9,630,000	USD	9,630,000	1.000%	Quarterly	Dec 2024	(229,452)	(90,640)	(320,092)
JPM	Republic of South Africa	390,000	USD	390,000	1.000%	Quarterly	Jun 2026	15,945	(1,692)	14,253
MSI	Government of Japan	9,570,000	USD	9,570,000	1.000%	Quarterly	Dec 2024	(242,870)	(81,872)	(324,742)
MSI	Government of Malaysia	1,715,000	USD	1,715,000	1.000%	Quarterly	Dec 2025	(32,963)	(17,317)	(50,280)
MSI	Government of Malaysia	1,840,000	USD	1,840,000	1.000%	Quarterly	Dec 2025	(52,617)	(1,328)	(53,945)
MSI	People's Republic of China	680,000	USD	680,000	1.000%	Quarterly	Dec 2025	(14,689)	(7,585)	(22,274)
MSI	Federative Republic of Brazil	770,000	USD	770,000	1.000%	Quarterly	Jun 2026	23,216	(2,658)	20,558
MSI	Federative Republic of Brazil	775,000	USD	775,000	1.000%	Quarterly	Jun 2026	23,007	(357)	22,650
MSI	Republic of South Africa	775,000	USD	775,000	1.000%	Quarterly	Jun 2026	33,317	(4,994)	28,323
MSI	Republic of South Africa	770,000	USD	770,000	1.000%	Quarterly	Jun 2026	29,261	(1,120)	28,141
MSI	CMBX.NA.BBB-.7	2,030,000	USD	2,030,000	3.000%	Monthly	Jan 2047	44,685	310,967	355,652
MSI	CMBX.NA.BBB-.8	2,080,000	USD	2,080,000	3.000%	Monthly	Oct 2057	97,622	187,815	285,437
MSI	CMBX.NA.AAA.12	1,380,000	USD	1,380,000	0.500%	Monthly	Aug 2061	(11,609)	(1,606)	(13,215)
MSI	CMBX.NA.AAA.12	1,385,000	USD	1,385,000	0.500%	Monthly	Aug 2061	(12,958)	(305)	(13,263)
MSI	CMBX.NA.BBB-.12	250,000	USD	250,000	3.000%	Monthly	Aug 2061	17,181	(8,889)	8,292
MSI	CMBX.NA.AAA.13	1,390,000	USD	1,390,000	0.500%	Monthly	Dec 2072	(4,567)	(5,052)	(9,619)

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Opportunistic Fixed Income Trust (continued)

Credit default swaps - Buyer (continued)
Counterparty (OTC)/ Centrally cleared	Reference obligation	Notional amount	Currency	USD notional amount	Pay fixed rate	Fixed payment frequency	Maturity date	Unamortized upfront payment paid (received)	Unrealized appreciation (depreciation)	Value
MSI	CMBX.NA.AAA.13	1,480,000	USD	$1,480,000	0.500%	Monthly	Dec 2072	$(7,571)	$(2,671)	$(10,242)
MSI	CMBX.NA.AAA.13	1,480,000	USD	1,480,000	0.500%	Monthly	Dec 2072	(8,163)	(2,079)	(10,242)
				$55,485,000				$(427,259)	$186,326	$(240,933)
Centrally cleared	iTraxx Europe Crossover Series 35 Version 1	265,000	EUR	312,077	5.000%	Quarterly	Jun 2026	(36,327)	(3,177)	(39,504)
Centrally cleared	iTraxx Europe Series 35 Version 1	4,790,000	EUR	5,793,886	1.000%	Quarterly	Jun 2026	(151,348)	(1,674)	(153,022)
Centrally cleared	iTraxx Europe Sub Financials Series 35 Version 1	3,375,000	EUR	4,066,585	1.000%	Quarterly	Jun 2026	12,445	(7,506)	4,939
				$10,172,548				$(175,230)	$(12,357)	$(187,587)
				$65,657,548				$(602,489)	$173,969	$(428,520)

Credit default swaps - Seller
Counterparty (OTC)/ Centrally cleared	Reference obligation	Implied credit spread	Notional amount	Currency	USD notional amount	Received fixed rate	Fixed payment frequency	Maturity date	Unamortized upfront payment paid (received)	Unrealized appreciation (depreciation)	Value
BARC	Republic of Panama	0.665%	125,000	USD	$125,000	1.000%	Quarterly	Jun 2026	$1,206	$1,192	$2,398
CITI	Republic of Columbia	1.360%	280,000	USD	280,000	1.000%	Quarterly	Jun 2026	(3,330)	(723)	(4,053)
CITI	Republic of Panama	0.665%	125,000	USD	125,000	1.000%	Quarterly	Jun 2026	1,513	885	2,398
CITI	Republic of Peru	0.820%	115,000	USD	115,000	1.000%	Quarterly	Jun 2026	1,279	54	1,333
CITI	Republic of Peru	0.820%	100,000	USD	100,000	1.000%	Quarterly	Jun 2026	819	341	1,160
GSI	Republic of Columbia	1.360%	215,000	USD	215,000	1.000%	Quarterly	Jun 2026	(2,554)	(558)	(3,112)
GSI	Republic of Columbia	1.360%	215,000	USD	215,000	1.000%	Quarterly	Jun 2026	(2,554)	(558)	(3,112)
GSI	Republic of Columbia	1.360%	250,000	USD	250,000	1.000%	Quarterly	Jun 2026	(3,027)	(592)	(3,619)
GSI	Republic of Columbia	1.360%	125,000	USD	125,000	1.000%	Quarterly	Jun 2026	(1,322)	(487)	(1,809)
GSI	Republic of Columbia	1.360%	140,000	USD	140,000	1.000%	Quarterly	Jun 2026	(1,036)	(990)	(2,026)
GSI	Republic of Columbia	1.360%	255,000	USD	255,000	1.000%	Quarterly	Jun 2026	(1,705)	(1,986)	(3,691)
GSI	Republic of Panama	0.665%	110,000	USD	110,000	1.000%	Quarterly	Jun 2026	1,116	994	2,110
GSI	Republic of Peru	0.820%	110,000	USD	110,000	1.000%	Quarterly	Jun 2026	1,224	51	1,275
GSI	Republic of Peru	0.820%	65,000	USD	65,000	1.000%	Quarterly	Jun 2026	532	222	754
JPM	Republic of Columbia	1.360%	235,000	USD	235,000	1.000%	Quarterly	Jun 2026	(1,906)	(1,496)	(3,402)
MSI	Republic of Panama	0.665%	120,000	USD	120,000	1.000%	Quarterly	Jun 2026	1,216	1,086	2,302
MSI	Republic of Peru	0.820%	95,000	USD	95,000	1.000%	Quarterly	Jun 2026	824	278	1,102
					$2,680,000				$(7,705)	$(2,287)	$(9,992)

Total return swaps
Pay/ receive total return*	Reference entity	Floating/ fixed rate	Payment frequency	Currency	Notional amount	Maturity date	Counterparty (OTC)	Unamortized upfront payment paid (received)	Unrealized appreciation (depreciation)	Value
Pay	iBoxx $ Liquid High Yield Index	3-Month USD LIBOR	At Maturity	USD	710,000	Sep 2021	GSI	—	$(14,033)	$(14,033)
Pay	iBoxx $ Liquid High Yield Index	3-Month USD LIBOR	At Maturity	USD	1,420,000	Dec 2021	GSI	—	(32,943)	(32,943)
Pay	iBoxx $ Liquid High Yield Index	3-Month USD LIBOR	At Maturity	USD	13,540,000	Dec 2021	GSI	—	(95,231)	(95,231)
Pay	iBoxx $ Liquid High Yield Index	3-Month USD LIBOR	At Maturity	USD	750,000	Dec 2021	GSI	—	(6,496)	(6,496)
Pay	iBoxx $ Liquid Investment Grade Index	3-Month USD LIBOR	At Maturity	USD	14,950,000	Dec 2021	GSI	—	(212,846)	(212,846)
Pay	iBoxx $ Liquid High Yield Index	3-Month USD LIBOR	At Maturity	USD	705,000	Sep 2021	JPM	—	(9,475)	(9,475)
Pay	iBoxx $ Liquid High Yield Index	3-Month USD LIBOR	At Maturity	USD	2,130,000	Dec 2021	JPM	—	(14,982)	(14,982)
Pay	iBoxx $ Liquid Investment Grade Index	3-Month USD LIBOR	At Maturity	USD	5,580,000	Sep 2021	MSI	—	(285,342)	(285,342)
Pay	iBoxx $ Liquid Investment Grade Index	3-Month USD LIBOR	At Maturity	USD	5,340,000	Dec 2021	MSI	—	(67,219)	(67,219)

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Opportunistic Fixed Income Trust (continued)

Total return swaps
Pay/ receive total return*	Reference entity	Floating/ fixed rate	Payment frequency	Currency	Notional amount	Maturity date	Counterparty (OTC)	Unamortized upfront payment paid (received)	Unrealized appreciation (depreciation)	Value
Receive	iBoxx $ Liquid Leveraged Loan Index	3-Month USD LIBOR	At Maturity	USD	2,020,000	Sep 2021	JPM	—	$18,223	$18,223
Receive	iBoxx $ Liquid Leveraged Loan Index	3-Month USD LIBOR	At Maturity	USD	2,420,000	Sep 2021	MSI	—	8,413	8,413
								—	$(711,931)	$(711,931)

* Fund will pay or receive the total return of the reference asset depending on whether the return is positive or negative. For contracts where the fund has elected to receive the total return of the reference asset if positive, it will be responsible for paying the floating rate and the total return of the reference asset if negative. If the fund has elected to pay the total return of the reference asset if positive, it will receive the floating rate and the total return of the reference asset if negative.

Derivatives Currency Abbreviations
AUD	Australian Dollar
BRL	Brazilian Real
CAD	Canadian Dollar
CHF	Swiss Franc
CLP	Chilean Peso
CNY	Chinese Yuan Renminbi
COP	Colombian Peso
CZK	Czech Republic Koruna
EUR	Euro
GBP	Pound Sterling
HUF	Hungarian Forint
IDR	Indonesian Rupiah
ILS	Israeli New Shekel
INR	Indian Rupee
JPY	Japanese Yen
KRW	Korean Won
MXN	Mexican Peso
NOK	Norwegian Krone
NZD	New Zealand Dollar
PLN	Polish Zloty
RUB	Russian Ruble
SEK	Swedish Krona
SGD	Singapore Dollar
THB	Thai Bhat
TRY	Turkish Lira
USD	U.S. Dollar
ZAR	South African Rand

Derivatives Abbreviations
BARC	Barclays Bank PLC
BOA	Bank of America, N.A.
CITI	Citibank, N.A.
CNREPOFIX	China Fixing Repo Rate
CORRA	Canadian Overnight Repo Rate Average
CPI	Consumer Price Index
GSI	Goldman Sachs International
JPM	JPMorgan Chase Bank, N.A.
LIBOR	London Interbank Offered Rate
MSI	Morgan Stanley & Co. International PLC
OIS	Overnight Index Swap
OTC	Over-the-counter
SONIA	Sterling Overnight Interbank Average Rate
SSB	State Street Bank and Trust Company
TELBOR	Tel Aviv Interbank Offered Rate
TIIE	Tasa de Interes Interbancario de Equilibrio (Interbank Equilibrium Interest Rate)
WIBOR	Warsaw Interbank Offered Rate

See Notes to financial statements regarding investment transactions and other derivatives information.

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Select Bond Trust

		Shares or Principal Amount	Value		% of Net Assets
U.S. GOVERNMENT AND AGENCY OBLIGATIONS - 31.8%
U.S. Treasury Bonds - 6.1%
1.875%, 02/15/2051	$	103,472,600	$	98,751,663	1.2%
2.250%, 05/15/2041		138,933,000		144,555,445	1.8%
2.500%, 02/15/2045		115,800,000		125,290,171	1.5%
3.000%, 02/15/2047		37,979,000		45,117,865	0.6%
3.125%, 11/15/2041		65,949,000		78,613,269	1.0%
				492,328,413
U.S. Treasury Notes - 8.1%
0.750%, 05/31/2026		108,023,000		107,406,932	1.3%
0.875%, 06/30/2026		121,315,000		121,258,134	1.5%
1.250%, 03/31/2028 to 06/30/2028		275,070,000		275,919,449	3.5%
1.625%, 05/15/2031		145,873,000		148,106,680	1.8%
				652,691,195
Federal Home Loan Mortgage Corp. - 4.1%
2.500%, 08/01/2050		69,012,874		71,998,495	0.9%
3.000%, 03/01/2043 to 12/01/2049		135,069,210		143,251,934	1.9%
3.500%, 04/01/2044 to 04/01/2047		79,141,009		85,614,196	1.0%
4.000%, 03/01/2048 to 08/01/2048		22,310,667		24,054,919	0.3%
				324,919,544
Federal National Mortgage Association - 13.4%
2.000%, 09/01/2050 to 02/01/2051		87,463,396		88,648,228	1.1%
2.000%, TBA (A)		168,333,000		170,084,572	2.1%
2.500%, 09/01/2050 to 12/01/2050		74,956,670		77,794,221	0.9%
2.500%, TBA (A)		83,389,000		86,248,976	1.1%
3.000%, 01/01/2043 to 11/01/2049		168,550,839		178,669,502	2.1%
3.500%, 06/01/2042 to 09/01/2049		193,538,342		207,296,574	2.5%
4.000%, 09/01/2040 to 07/01/2049		191,905,223		210,282,770	2.8%
4.500%, 12/01/2040 to 05/01/2042		46,866,599		52,050,419	0.7%
OTHER SECURITIES				8,869,281	0.1%
				1,079,944,543
Government National Mortgage Association - 0.1%				3,849,279	0.1%
TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $2,513,411,630)			$	2,553,732,974
FOREIGN GOVERNMENT OBLIGATIONS - 0.5%
Qatar - 0.3%				23,876,703	0.3%
Saudi Arabia - 0.2%				17,251,380	0.2%
TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $35,529,031)			$	41,128,083
CORPORATE BONDS - 40.5%
Communication services - 3.9%
Charter Communications Operating LLC 5.750%, 04/01/2048		16,696,000		21,249,680	0.3%
Comcast Corp. 4.150%, 10/15/2028 (B)		20,678,000		23,935,962	0.3%
NBN Company, Ltd. 1.450%, 05/05/2026 (C)		20,683,000		20,729,537	0.3%
Telefonica Emisiones SA 5.213%, 03/08/2047		16,102,000		20,099,718	0.2%

Select Bond Trust (continued)

		Shares or Principal Amount	Value		% of Net Assets
CORPORATE BONDS (continued)
Communication services (continued)
Verizon Communications, Inc. 4.329%, 09/21/2028	$	17,379,000	$	20,221,167	0.3%
OTHER SECURITIES				206,377,332	2.5%
				312,613,396
Consumer discretionary - 3.2%
General Motors Financial Company, Inc. 3.600%, 06/21/2030		20,346,000		22,029,659	0.3%
OTHER SECURITIES				237,736,498	2.9%
				259,766,157
Consumer staples - 0.6%				48,202,582	0.6%
Energy - 3.0%
Energy Transfer LP 5.250%, 04/15/2029		17,785,000		21,007,103	0.3%
OTHER SECURITIES				221,209,219	2.7%
				242,216,322
Financials - 10.8%
Bank of America Corp. (4.271% to 7-23-28, then 3 month LIBOR + 1.310%) 07/23/2029		17,187,000		19,744,242	0.2%
Bank of America Corp. (2.687% to 4-22-31, then SOFR + 1.320%) 04/22/2032		19,364,000		19,921,577	0.2%
Citigroup, Inc. 4.600%, 03/09/2026		17,394,000		19,797,857	0.2%
GE Capital International Funding Company 4.418%, 11/15/2035		17,822,000		21,359,337	0.3%
Morgan Stanley (2.188% to 4-28-25, then SOFR + 1.990%) 04/28/2026		22,984,000		23,864,326	0.3%
Prudential Financial, Inc. (3.700% to 7-1-30, then 5 Year CMT + 3.035%) 10/01/2050		23,831,000		24,843,818	0.3%
The Goldman Sachs Group, Inc. 3.850%, 01/26/2027		19,136,000		21,086,204	0.3%
The Goldman Sachs Group, Inc. (2.615% to 4-22-31, then SOFR + 1.281%) 04/22/2032		22,533,000		23,018,974	0.3%
Wells Fargo & Company 3.550%, 09/29/2025		18,013,000		19,798,139	0.2%
Wells Fargo & Company (5.875% to 6-15-25, then 3 month LIBOR + 3.990%) 06/15/2025 (D)		21,439,000		24,009,750	0.3%
Wells Fargo & Company (2.393% to 6-2-27, then SOFR + 2.100%) 06/02/2028		19,183,000		19,894,601	0.2%
OTHER SECURITIES				628,536,602	8.0%
				865,875,427
Health care - 2.9%
AbbVie, Inc. 3.200%, 11/21/2029		33,371,000		36,242,387	0.4%

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Select Bond Trust (continued)

		Shares or Principal Amount	Value		% of Net Assets
CORPORATE BONDS (continued)
Health care (continued)
OTHER SECURITIES			$	193,020,764	2.5%
				229,263,151
Industrials - 5.1%				406,052,773	5.1%
Information technology - 5.4%
Broadcom, Inc. 4.750%, 04/15/2029	$	36,324,000		42,254,144	0.5%
Micron Technology, Inc. 4.185%, 02/15/2027		22,492,000		25,370,507	0.3%
Micron Technology, Inc. 5.327%, 02/06/2029		19,168,000		23,152,420	0.3%
Microsoft Corp. 2.525%, 06/01/2050		24,775,000		24,340,965	0.3%
OTHER SECURITIES				319,142,232	4.0%
				434,260,268
Materials - 1.1%
Colonial Enterprises, Inc. 3.250%, 05/15/2030 (C)		21,491,000		23,230,356	0.3%
OTHER SECURITIES				64,635,731	0.8%
				87,866,087
Real estate - 2.9%
SBA Tower Trust 2.328%, 01/15/2028 (C)		21,448,000		22,224,911	0.3%
OTHER SECURITIES				211,902,745	2.6%
				234,127,656
Utilities - 1.6%
NiSource, Inc. 1.700%, 02/15/2031		27,237,000		25,737,056	0.3%
OTHER SECURITIES				106,847,327	1.3%
				132,584,383
TOTAL CORPORATE BONDS (Cost $3,075,254,601)			$	3,252,828,202
MUNICIPAL BONDS - 1.5%				124,037,528	1.5%
TOTAL MUNICIPAL BONDS (Cost $120,904,252)			$	124,037,528
COLLATERALIZED MORTGAGE OBLIGATIONS - 8.0%
Commercial and residential - 6.7%				541,289,158	6.7%
Federal Home Loan Mortgage Corp. - 0.1%				5,896,807	0.1%
Government National Mortgage Association - 1.2%				93,752,098	1.2%
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $674,116,194)			$	640,938,063
ASSET BACKED SECURITIES - 16.3%
Ford Credit Auto Owner Trust Series 2018-1, Class A, 3.190%, 07/15/2031 (C)		26,635,000		28,734,166	0.4%
Toyota Auto Loan Extended Note Trust Series 2019-1A, Class A, 2.560%, 11/25/2031 (C)		22,220,000		23,429,990	0.3%
Tricon American Homes Trust Series 2020-SFR1, Class A, 1.499%, 07/17/2038 (C)		20,189,698		20,164,616	0.3%
OTHER SECURITIES				1,239,657,911	15.3%
TOTAL ASSET BACKED SECURITIES (Cost $1,296,294,324)			$	1,311,986,683

Select Bond Trust (continued)

		Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS - 0.0%
Utilities - 0.0%			$	1,254,418	0.0%
TOTAL COMMON STOCKS (Cost $1,291,497)			$	1,254,418
PREFERRED SECURITIES - 0.1%
Utilities - 0.1%				7,647,023	0.1%
TOTAL PREFERRED SECURITIES (Cost $7,618,288)			$	7,647,023
SHORT-TERM INVESTMENTS - 4.7%
Short-term funds - 0.2%
John Hancock Collateral Trust, 0.0324% (E)(F)		1,341,364		13,419,808	0.2%
Repurchase agreement - 4.5%
Repurchase Agreement with State Street Corp. dated 6-30-21 at 0.000% to be repurchased at $366,701,000 on 7-1-21, collateralized by $160,194,700 U.S. Treasury Inflation Indexed Notes, 0.375% due 1-15-27 (valued at $195,979,514), $167,711,400 U.S. Treasury Notes, 0.375% - 2.375% due 11-30-25 to 5-15-27 (valued at 178,055,530)	$	366,701,000		366,701,000	4.5%
TOTAL SHORT-TERM INVESTMENTS (Cost $380,121,269)			$	380,120,808
Total Investments (Select Bond Trust) (Cost $8,104,541,086) - 103.4%			$	8,313,673,782	103.4%
Other assets and liabilities, net - (3.4)%				(270,683,744)	(3.4%)
TOTAL NET ASSETS - 100.0%			$	8,042,990,038	100.0%

Security Abbreviations and Legend
CMT	Constant Maturity Treasury
LIBOR	London Interbank Offered Rate
SOFR	Secured Overnight Financing Rate
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.
(A)	Security purchased or sold on a when-issued or delayed delivery basis.
(B)	All or a portion of this security is on loan as of 6-30-21.
(C)	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. Rule 144A securities amounted to $2,315,349,469 or 28.8% of the fund's net assets as of 6-30-21.
(D)	Perpetual bonds have no stated maturity date. Date shown as maturity date is next call date.
(E)	The rate shown is the annualized seven-day yield as of 6-30-21.
(F)	Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending.

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Short Term Government Income Trust

		Shares or Principal Amount	Value		% of Net Assets
U.S. GOVERNMENT AND AGENCY OBLIGATIONS - 92.9%
U.S. Treasury Inflation Protected Securities - 0.8%
0.625%, 04/15/2023	$	1,397,292	$	1,478,046	0.8%
				1,478,046
U.S. Treasury Notes - 29.0%
0.125%, 05/15/2023		3,000,000		2,994,375	1.6%
0.250%, 04/15/2023		9,000,000		9,004,922	4.9%
1.375%, 02/15/2023		1,770,000		1,804,017	1.0%
1.500%, 09/15/2022		4,000,000		4,065,781	2.2%
1.875%, 07/31/2022		4,610,000		4,697,878	2.6%
2.000%, 05/31/2024		4,500,000		4,702,676	2.6%
2.125%, 03/31/2024		2,700,000		2,826,773	1.5%
2.625%, 06/30/2023		5,485,000		5,743,823	3.1%
2.750%, 07/31/2023		3,215,000		3,381,025	1.8%
2.875%, 11/30/2023		13,345,000		14,161,338	7.7%
				53,382,608
Federal Farm Credit Bank - 9.1%
0.500%, 12/23/2025 to 02/04/2026		10,000,000		9,792,384	5.4%
0.680%, 01/13/2027		6,000,000		5,864,806	3.2%
1.980%, 06/02/2031		1,000,000		998,095	0.5%
				16,655,285
Federal Home Loan Bank - 19.4%
0.625%, 11/27/2024		2,000,000		1,991,194	1.1%
0.650%, 02/26/2026		6,000,000		5,939,126	3.2%
0.700%, 01/28/2026		7,000,000		6,958,204	3.8%
0.900%, 02/26/2027		2,000,000		1,981,389	1.1%
1.000%, 03/23/2026		1,950,000		1,949,514	1.1%
1.375%, 02/17/2023		8,000,000		8,153,903	4.4%
1.500%, 08/15/2024		2,770,000		2,857,897	1.5%
2.875%, 09/13/2024		5,500,000		5,908,573	3.2%
				35,739,800
Federal Home Loan Mortgage Corp. - 14.7%
0.250%, 09/08/2023		2,000,000		1,998,277	1.1%
0.375%, 09/23/2025		3,060,000		3,012,104	1.6%
0.640%, 11/24/2025		2,000,000		1,985,590	1.1%
0.650%, 10/22/2025		2,000,000		1,983,706	1.1%
0.700%, 12/23/2025		2,000,000		1,982,784	1.1%
0.800%, 10/27/2026		2,000,000		1,976,896	1.1%
1.500%, 02/12/2025		6,000,000		6,190,374	3.3%
2.049%, (12 month LIBOR + 1.619%), 05/01/2045 (A)		513,192		537,806	0.3%
2.500%, 09/01/2034		2,450,559		2,562,498	1.4%
3.000%, 07/01/2030 to 12/01/2032		3,144,347		3,317,372	1.8%
3.500%, 04/01/2032		1,313,302		1,410,243	0.8%
OTHER SECURITIES				520	0.0%
				26,958,170
Federal National Mortgage Association - 19.9%
0.375%, 08/25/2025		5,000,000		4,925,933	2.7%
0.625%, 04/22/2025		4,000,000		3,995,063	2.2%
0.650%, 12/17/2025		2,000,000		1,986,940	1.1%
2.500%, 10/01/2027 to 09/01/2034		3,187,950		3,332,497	1.8%
2.875%, 09/12/2023		7,005,000		7,404,276	4.0%
3.000%, 03/01/2028 to 09/01/2034		8,524,395		9,009,799	4.9%
3.500%, 07/01/2031 to 06/01/2034		5,158,600		5,542,840	3.0%
6.500%, 01/01/2039		346,584		411,534	0.2%

Short Term Government Income Trust (continued)

		Shares or Principal Amount	Value		% of Net Assets
U.S. GOVERNMENT AND AGENCY OBLIGATIONS (continued)
Federal National Mortgage Association (continued)
OTHER SECURITIES			$	2,188	0.0%
				36,611,070
Government National Mortgage Association - 0.0%				214	0.0%
TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $168,988,326)			$	170,825,193
MUNICIPAL BONDS - 4.6%
City of Houston (Texas) 3.628%, 05/15/2024	$	1,000,000		1,086,919	0.6%
City of Houston (Texas) 2.110%, 03/01/2025		1,000,000		1,041,240	0.6%
City of New York 3.250%, 03/01/2024		1,000,000		1,070,382	0.6%
City of New York 1.990%, 10/01/2026		1,000,000		1,040,863	0.6%
County of Orange (Florida) 2.280%, 01/01/2026		1,000,000		1,029,570	0.5%
Los Angeles Unified School District (California) 1.540%, 09/15/2025		1,000,000		1,019,873	0.5%
New York State Urban Development Corp. 3.080%, 03/15/2024		1,000,000		1,065,203	0.6%
State of California 2.375%, 10/01/2026		1,000,000		1,060,917	0.6%
TOTAL MUNICIPAL BONDS (Cost $8,140,098)			$	8,414,967
COLLATERALIZED MORTGAGE OBLIGATIONS - 1.3%
Federal Home Loan Mortgage Corp. - 0.4%
Series K030, Class X1 IO, 0.385%, 04/25/2023		128,059,572		319,854	0.2%
OTHER SECURITIES				364,722	0.2%
				684,576
Government National Mortgage Association - 0.9%				1,644,516	0.9%
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $2,984,521)			$	2,329,092
SHORT-TERM INVESTMENTS - 0.9%
Repurchase agreement - 0.9%
Repurchase Agreement with State Street Corp. dated 6-30-21 at 0.000% to be repurchased at $1,666,000 on 7-1-21, collateralized by $1,730,300 U.S. Treasury Notes, 0.375% due 11-30-25 (valued at $1,699,403)		1,666,000		1,666,000	0.9%
TOTAL SHORT-TERM INVESTMENTS (Cost $1,666,000)			$	1,666,000
Total Investments (Short Term Government Income Trust) (Cost $181,778,945) - 99.7%			$	183,235,252	99.7%
Other assets and liabilities, net - 0.3%				622,640	0.3%
TOTAL NET ASSETS - 100.0%			$	183,857,892	100.0%

Security Abbreviations and Legend
IO	Interest-Only Security - (Interest Tranche of Stripped Mortgage Pool). Rate shown is the annualized yield at the end of the period.

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Short Term Government Income Trust (continued)

LIBOR	London Interbank Offered Rate
(A)	Variable rate obligation. The coupon rate shown represents the rate at period end.

Strategic Income Opportunities Trust

		Shares or Principal Amount	Value		% of Net Assets
U.S. GOVERNMENT AND AGENCY OBLIGATIONS - 4.8%
U.S. Treasury Bonds - 3.4%
2.000%, 02/15/2050	$	1,800,000	$	1,768,359	0.4%
3.000%, 02/15/2049		6,200,000		7,422,771	1.6%
4.375%, 02/15/2038		3,920,000		5,395,972	1.2%
OTHER SECURITIES				1,120,424	0.2%
				15,707,526
U.S. Treasury Inflation Protected Securities - 0.6%
0.125%, 01/15/2030		2,282,918		2,505,829	0.6%
				2,505,829
U.S. Treasury Notes - 0.8%				3,830,449	0.8%
TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $20,013,749)			$	22,043,804
FOREIGN GOVERNMENT OBLIGATIONS - 19.8%
Australia - 0.9%				4,144,837	0.9%
Austria - 0.3%				1,379,373	0.3%
Brazil - 1.0%
Federative Republic of Brazil 10.000% 01/01/2023 to 01/01/2025	BRL	20,880,000		4,400,435	1.0%
Canada - 3.0%
Province of Ontario 1.350%, 12/02/2030	CAD	8,165,000		6,232,235	1.4%
OTHER SECURITIES				7,622,052	1.6%
				13,854,287
China - 0.9%
People's Republic of China 1.990%, 04/09/2025	CNY	12,420,000		1,859,338	0.4%
People's Republic of China 2.880%, 11/05/2023		14,670,000		2,278,083	0.5%
				4,137,421
Colombia - 0.9%				4,076,925	0.9%
Greece - 0.8%				3,567,819	0.8%
India - 0.1%				663,028	0.1%
Indonesia - 2.8%
Republic of Indonesia 6.500%, 06/15/2025	IDR	27,798,000,000		2,009,743	0.4%
OTHER SECURITIES				10,954,338	2.4%
				12,964,081
Ireland - 0.3%				1,374,961	0.3%
Italy - 0.6%
Republic of Italy 1.850%, 07/01/2025 (A)	EUR	1,710,000		2,179,459	0.5%
OTHER SECURITIES				731,756	0.1%
				2,911,215
Japan - 0.9%
Government of Japan 0.100%, 06/20/2025	JPY	447,900,000		4,068,272	0.9%
Malaysia - 1.3%				5,832,780	1.3%
Mexico - 1.1%
Government of Mexico 7.500%, 06/03/2027	MXN	44,140,000		2,307,707	0.5%

Strategic Income Opportunities Trust (continued)

		Shares or Principal Amount	Value		% of Net Assets
FOREIGN GOVERNMENT OBLIGATIONS (continued)
Mexico (continued)
Government of Mexico 7.750%, 05/29/2031	MXN	32,570,000	$	1,724,638	0.4%
OTHER SECURITIES				1,175,916	0.2%
				5,208,261
New Zealand - 0.1%				350,040	0.1%
Norway - 0.8%
Kingdom of Norway 2.000%, 05/24/2023 (A)	NOK	30,260,000		3,603,678	0.8%
Philippines - 0.6%
Republic of the Philippines 0.875%, 05/17/2027	EUR	1,465,000		1,766,963	0.4%
OTHER SECURITIES				1,051,618	0.2%
				2,818,581
Portugal - 1.2%
Republic of Portugal 0.475%, 10/18/2030 (A)		2,270,000		2,741,770	0.6%
Republic of Portugal 5.125%, 10/15/2024 (A)	$	1,905,000		2,161,985	0.5%
OTHER SECURITIES				542,228	0.1%
				5,445,983
Qatar - 0.3%				1,459,849	0.3%
Singapore - 0.4%				1,629,773	0.4%
Spain - 0.5%				2,137,604	0.5%
Sweden - 0.3%				1,146,148	0.3%
United Arab Emirates - 0.5%				2,232,524	0.5%
United Kingdom - 0.2%				1,112,646	0.2%
TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $89,825,550)			$	90,520,521
CORPORATE BONDS - 58.5%
Communication services - 8.5%
Netflix, Inc. 3.625%, 06/15/2025 (A)		1,920,000		2,061,773	0.4%
News Corp. 3.875%, 05/15/2029 (A)		1,685,000		1,701,850	0.4%
WMG Acquisition Corp. 3.000%, 02/15/2031 (A)		1,910,000		1,809,649	0.4%
OTHER SECURITIES				33,378,272	7.3%
				38,951,544
Consumer discretionary - 6.1%
New Red Finance, Inc. 4.000%, 10/15/2030 (A)		2,124,000		2,054,970	0.4%
Yum! Brands, Inc. 3.625%, 03/15/2031		1,795,000		1,786,025	0.4%
Yum! Brands, Inc. 4.750%, 01/15/2030 (A)		2,173,000		2,352,294	0.5%
OTHER SECURITIES				21,610,219	4.8%
				27,803,508
Consumer staples - 3.5%
Kraft Heinz Foods Company 4.250%, 03/01/2031		1,525,000		1,732,383	0.4%
Kraft Heinz Foods Company 6.875%, 01/26/2039		1,220,000		1,752,420	0.4%
Post Holdings, Inc. 5.750%, 03/01/2027 (A)		1,955,000		2,045,419	0.4%
OTHER SECURITIES				10,563,532	2.3%
				16,093,754
Energy - 6.3%
Cenovus Energy, Inc. 6.750%, 11/15/2039		2,136,000		2,899,284	0.6%

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Strategic Income Opportunities Trust (continued)

		Shares or Principal Amount	Value		% of Net Assets
CORPORATE BONDS (continued)
Energy (continued)
Continental Resources, Inc. 5.750%, 01/15/2031 (A)	$	2,205,000	$	2,640,488	0.6%
EQT Corp. 3.625%, 05/15/2031 (A)		2,235,000		2,329,988	0.5%
OTHER SECURITIES				21,099,570	4.6%
				28,969,330
Financials - 11.8%
American International Group, Inc. (8.175% to 5-15-38, then 3 month LIBOR + 4.195%) 05/15/2058		1,700,000		2,458,121	0.5%
MSCI, Inc. 3.625% 09/01/2030 to 11/01/2031 (A)		2,374,000		2,430,361	0.5%
Popular, Inc. 6.125%, 09/14/2023		1,625,000		1,753,375	0.4%
Swiss Insured Brazil Power Finance Sarl 9.850%, 07/16/2032 (A)	BRL	8,696,049		1,813,935	0.4%
U.S. Bancorp 0.850%, 06/07/2024	EUR	2,560,000		3,118,846	0.7%
OTHER SECURITIES				42,171,261	9.3%
				53,745,899
Health care - 5.0%
Centene Corp. 3.000%, 10/15/2030	$	1,795,000		1,843,968	0.4%
Centene Corp. 3.375%, 02/15/2030		1,765,000		1,844,990	0.4%
DH Europe Finance II Sarl 0.450%, 03/18/2028	EUR	1,630,000		1,946,863	0.4%
HCA, Inc. 3.500%, 09/01/2030	$	2,943,000		3,135,384	0.7%
OTHER SECURITIES				13,819,735	3.1%
				22,590,940
Industrials - 6.1%
Delta Air Lines, Inc. 4.750%, 10/20/2028 (A)		2,762,000		3,070,675	0.7%
The Boeing Company 5.150%, 05/01/2030		2,625,000		3,108,407	0.7%
OTHER SECURITIES				21,821,818	4.7%
				28,000,900
Information technology - 1.7%				7,834,725	1.7%
Materials - 6.0%
FMG Resources August 2006 Pty, Ltd. 4.375%, 04/01/2031 (A)		3,053,000		3,266,191	0.7%
Freeport-McMoRan, Inc. 5.450%, 03/15/2043		1,905,000		2,328,520	0.5%
OTHER SECURITIES				21,643,280	4.8%
				27,237,991
Real estate - 1.3%
SBA Communications Corp. 3.875%, 02/15/2027		1,900,000		1,951,120	0.4%
OTHER SECURITIES				3,872,352	0.9%
				5,823,472
Utilities - 2.2%
FirstEnergy Corp. 7.375%, 11/15/2031		1,355,000		1,855,686	0.4%

Strategic Income Opportunities Trust (continued)

		Shares or Principal Amount	Value		% of Net Assets
CORPORATE BONDS (continued)
Utilities (continued)
OTHER SECURITIES			$	8,009,047	1.8%
				9,864,733
TOTAL CORPORATE BONDS (Cost $257,588,737)			$	266,916,796
CONVERTIBLE BONDS - 3.1%
Communication services - 0.8%				3,777,669	0.8%
Consumer discretionary - 0.5%				2,321,737	0.5%
Energy - 0.2%				1,138,246	0.2%
Industrials - 1.4%
American Airlines Group, Inc. 6.500%, 07/01/2025	$	1,395,000		2,186,663	0.5%
Uber Technologies, Inc., Zero Coupon 0.000%, 12/15/2025 (A)		1,965,000		1,992,510	0.4%
OTHER SECURITIES				2,159,853	0.5%
				6,339,026
Information technology - 0.2%				755,300	0.2%
TOTAL CONVERTIBLE BONDS (Cost $12,979,341)			$	14,331,978
CAPITAL PREFERRED SECURITIES - 0.3%
Financials - 0.3%				1,307,790	0.3%
TOTAL CAPITAL PREFERRED SECURITIES (Cost $1,152,158)			$	1,307,790
TERM LOANS (B) - 3.0%
Consumer discretionary - 1.0%				4,572,536	1.0%
Health care - 0.9%
ICON Luxembourg Sarl, Term Loan B 06/16/2028 TBD (C)		2,401,140		2,404,526	0.5%
OTHER SECURITIES				1,595,673	0.4%
				4,000,199
Industrials - 0.4%				1,915,778	0.4%
Information technology - 0.5%
Dell International LLC, 2021 Term Loan B 09/19/2025 TBD (C)		2,376,000		2,374,931	0.5%
Materials - 0.2%				570,952	0.2%
TOTAL TERM LOANS (Cost $13,440,187)			$	13,434,396
COLLATERALIZED MORTGAGE OBLIGATIONS - 0.6%
Commercial and residential - 0.6%				2,751,722	0.6%
Federal Home Loan Mortgage Corp. - 0.0%				144,120	0.0%
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $2,689,330)			$	2,895,842
ASSET BACKED SECURITIES - 1.5%				6,660,552	1.5%
TOTAL ASSET BACKED SECURITIES (Cost $6,403,523)			$	6,660,552
COMMON STOCKS - 3.2%
Communication services - 0.0%				0	0.0%
Consumer discretionary - 0.3%				1,224,582	0.3%
Financials - 1.2%				5,563,457	1.2%
Industrials - 0.7%
The Boeing Company (D)		8,021		1,921,511	0.4%
OTHER SECURITIES				1,074,103	0.3%
				2,995,614

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Strategic Income Opportunities Trust (continued)

		Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS (continued)
Real estate - 0.4%			$	1,748,704	0.4%
Utilities - 0.6%
Dominion Energy, Inc.		18,000		1,748,340	0.4%
OTHER SECURITIES				1,246,413	0.2%
				2,994,753
TOTAL COMMON STOCKS (Cost $14,811,050)			$	14,527,110
PREFERRED SECURITIES - 3.2%
Communication services - 0.1%				598,538	0.1%
Financials - 0.5%				2,139,180	0.5%
Health care - 0.3%				1,605,792	0.3%
Industrials - 0.3%				1,255,592	0.3%
Information technology - 0.4%				1,663,547	0.4%
Utilities - 1.6%				7,597,154	1.6%
TOTAL PREFERRED SECURITIES (Cost $13,926,538)			$	14,859,803
PURCHASED OPTIONS - 0.0%
Puts - 0.0%				52,389	0.0%
TOTAL PURCHASED OPTIONS (Cost $142,384)			$	52,389
SHORT-TERM INVESTMENTS - 3.5%
Short-term funds - 0.8%
John Hancock Collateral Trust, 0.0324% (E)(F)		341,886		3,420,435	0.8%
Repurchase agreement - 2.7%
Repurchase Agreement with State Street Corp. dated 6-30-21 at 0.000% to be repurchased at $12,414,000 on 7-1-21, collateralized by $12,654,200 U.S. Treasury Notes, 0.099% due 1-31-23 (valued at $12,662,308)	$	12,414,000		12,414,000	2.7%
TOTAL SHORT-TERM INVESTMENTS (Cost $15,834,553)			$	15,834,435
Total Investments (Strategic Income Opportunities Trust) (Cost $448,807,100) - 101.5%			$	463,385,416	101.5%
Other assets and liabilities, net - (1.5)%				(6,746,867)	(1.5%)
TOTAL NET ASSETS - 100.0%			$	456,638,549	100.0%

Strategic Income Opportunities Trust (continued)

Currency Abbreviations
BRL	Brazilian Real
CAD	Canadian Dollar
CNY	Chinese Yuan Renminbi
EUR	Euro
IDR	Indonesian Rupiah
JPY	Japanese Yen
MXN	Mexican Peso
NOK	Norwegian Krone

Security Abbreviations and Legend
LIBOR	London Interbank Offered Rate
(A)	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. Rule 144A securities amounted to $176,687,392 or 38.7% of the fund's net assets as of 6-30-21.
(B)	Term loans are variable rate obligations. The coupon rate shown represents the rate at period end.
(C)	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, which is disclosed as TBD (To Be Determined).
(D)	Non-income producing security.
(E)	The rate shown is the annualized seven-day yield as of 6-30-21.
(F)	Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending.

DERIVATIVES

FUTURES

Open contracts	Number of contracts	Position	Expiration date	Notional basis^	Notional value^	Unrealized appreciation (depreciation)
Euro-BTP Italian Government Bond Futures	27	Long	Sep 2021	$4,817,824	$4,847,445	$29,621
10-Year U.S. Treasury Note Futures	96	Short	Sep 2021	(12,654,115)	(12,720,000)	(65,885)
Euro-Buxl Futures	4	Short	Sep 2021	(962,647)	(963,967)	(1,320)
German Euro BUND Futures	33	Short	Sep 2021	(6,720,073)	(6,754,187)	(34,114)
U.S. Treasury Long Bond Futures	442	Short	Sep 2021	(69,007,363)	(71,051,500)	(2,044,137)
Ultra U.S. Treasury Bond Futures	7	Short	Sep 2021	(1,012,364)	(1,030,422)	(18,058)
						$(2,133,893)

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

FORWARD FOREIGN CURRENCY CONTRACTS

Contract to buy		Contract to sell		Counterparty (OTC)	Contractual settlement date	Unrealized appreciation	Unrealized depreciation
CAD	2,472,179	GBP	1,441,250	MSCS	9/15/2021	$258	—
CAD	2,464,235	GBP	1,441,250	RBC	9/15/2021	—	$(6,150)
CAD	1,475,000	JPY	132,702,800	ANZ	9/15/2021	—	(5,385)
CAD	1,475,000	JPY	132,297,323	RBC	9/15/2021	—	(1,733)
CAD	3,528,035	USD	2,880,000	CITI	9/15/2021	—	(33,985)
CAD	3,568,435	USD	2,880,500	GSI	9/15/2021	—	(1,894)
CAD	3,568,209	USD	2,882,500	HUS	9/15/2021	—	(4,076)
CAD	9,112,637	USD	7,390,534	JPM	9/15/2021	—	(39,499)
CAD	3,549,538	USD	2,877,500	MSCS	9/15/2021	—	(14,138)
CAD	1,765,175	USD	1,440,000	RBC	9/15/2021	—	(16,058)
EUR	6,700,851	CAD	9,882,730	RBC	9/15/2021	—	(14,629)
EUR	2,882,020	GBP	2,479,090	SSB	9/15/2021	—	(7,339)
EUR	2,932,500	USD	3,481,877	SCB	9/15/2021	628	—
GBP	2,882,500	CAD	4,930,199	JPM	9/15/2021	10,905	—
GBP	2,485,546	EUR	2,882,020	UBS	9/15/2021	16,272	—
GBP	2,065,000	USD	2,861,726	BARC	9/15/2021	—	(4,735)
GBP	2,065,000	USD	2,915,727	SSB	9/15/2021	—	(58,736)
JPY	266,790,419	CAD	2,950,000	CIBC	9/15/2021	23,244	—
SGD	4,615,797	USD	3,440,216	BARC	9/15/2021	—	(7,667)
SGD	216,768	USD	161,240	CITI	9/15/2021	—	(40)
USD	3,080,055	AUD	4,103,949	CITI	9/15/2021	1,331	—
USD	6,040,608	BRL	30,697,025	CITI	9/15/2021	—	(75,280)
USD	755,766	BRL	3,741,798	SSB	9/15/2021	10,273	—
USD	8,642,500	CAD	10,567,184	MSCS	9/15/2021	118,102	—
USD	1,583,102	CAD	1,911,966	RBC	9/15/2021	40,746	—
USD	4,465,602	CAD	5,425,924	SSB	9/15/2021	88,586	—
USD	8,425,636	EUR	7,065,242	GSI	9/15/2021	35,274	—
USD	3,484,180	EUR	2,932,500	MSCS	9/15/2021	1,674	—
USD	4,152,160	GBP	2,984,014	CIBC	9/15/2021	23,686	—
USD	1,278,430	GBP	919,014	HUS	9/15/2021	6,947	—
USD	1,071,894	JPY	117,207,264	UBS	9/15/2021	16,215	—
USD	788,148	NZD	1,134,068	ANZ	9/15/2021	—	(4,388)
USD	736,543	NZD	1,058,464	GSI	9/15/2021	—	(3,158)
USD	2,044,840	SGD	2,743,562	HUS	9/15/2021	4,583	—
USD	2,044,840	SGD	2,745,903	JPM	9/15/2021	2,842	—
USD	2,044,840	SGD	2,744,687	MSCS	9/15/2021	3,747	—
USD	3,649,168	SGD	4,832,565	SSB	9/15/2021	55,420	—
						$460,733	$(298,890)

WRITTEN OPTIONS

Foreign currency options
Description	Counterparty (OTC)	Currency	Exercise price	Expiration date	Notional amount*	Premium	Value
Calls
Euro vs. U.S. Dollar	CITI	EUR	1.22	Aug 2021	8,885,000	$124,574	$(8,523)
Euro vs. U.S. Dollar	UBS	EUR	1.19	Aug 2021	8,895,000	87,620	(58,632)
						$212,194	$(67,155)
Puts
U.S. Dollar vs. Canadian Dollar	GSI	USD	1.22	Oct 2021	7,675,000	174,069	(49,573)
						$174,069	$(49,573)
						$386,263	$(116,728)
* For this type of option, notional amounts are equivalent to number of contracts.

Derivatives Currency Abbreviations
AUD	Australian Dollar
BRL	Brazilian Real
CAD	Canadian Dollar
EUR	Euro
GBP	Pound Sterling
JPY	Japanese Yen
NZD	New Zealand Dollar
SGD	Singapore Dollar
USD	U.S. Dollar

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Strategic Income Opportunities Trust (continued)

Derivatives Abbreviations
ANZ	Australia and New Zealand Banking Group Limited
BARC	Barclays Bank PLC
CIBC	Canadian Imperial Bank of Commerce
CITI	Citibank, N.A.
GSI	Goldman Sachs International
HUS	HSBC Bank USA, N.A.
JPM	JPMorgan Chase Bank, N.A.
MSCS	Morgan Stanley Capital Services LLC
OTC	Over-the-counter
RBC	Royal Bank of Canada
SCB	Standard Chartered Bank
SSB	State Street Bank and Trust Company
UBS	UBS AG

See Notes to financial statements regarding investment transactions and other derivatives information.

Total Bond Market Trust

		Shares or Principal Amount	Value		% of Net Assets
U.S. GOVERNMENT AND AGENCY OBLIGATIONS - 64.5%
U.S. Treasury Bonds - 9.8%
1.250%, 05/15/2050	$	8,000,000	$	6,532,188	0.9%
2.000%, 02/15/2050		3,000,000		2,947,266	0.4%
2.750%, 08/15/2047		3,000,000		3,412,500	0.4%
3.000%, 02/15/2047 to 02/15/2049		28,635,000		34,083,005	4.6%
4.250%, 05/15/2039 to 11/15/2040		4,610,000		6,316,910	0.8%
4.375%, 05/15/2041		1,830,000		2,571,079	0.3%
4.625%, 02/15/2040		5,000,000		7,177,344	1.0%
4.750%, 02/15/2041		2,000,000		2,932,891	0.4%
OTHER SECURITIES				7,200,212	1.0%
				73,173,395
U.S. Treasury Notes - 26.6%
0.125%, 10/31/2022 to 02/28/2023		16,000,000		15,989,844	2.1%
0.250%, 11/15/2023 to 10/31/2025		32,000,000		31,620,625	4.2%
0.375%, 07/31/2027		4,000,000		3,833,750	0.5%
0.500%, 10/31/2027		12,000,000		11,537,344	1.6%
0.625%, 03/31/2027 to 05/15/2030		16,000,000		15,217,422	2.1%
0.750%, 03/31/2026		4,000,000		3,982,031	0.5%
1.250%, 08/31/2024		5,000,000		5,117,969	0.7%
1.375%, 08/31/2026		5,000,000		5,118,555	0.7%
1.500%, 01/31/2027		5,000,000		5,140,039	0.7%
1.625%, 08/15/2029		8,000,000		8,182,188	1.1%
1.750%, 07/31/2021 to 12/31/2024		13,000,000		13,261,399	1.8%
2.000%, 11/15/2021 to 02/15/2022		29,400,000		29,634,680	3.9%
2.125%, 05/31/2026		3,000,000		3,181,641	0.4%
2.250%, 11/15/2027		20,595,000		22,030,214	3.0%
2.375%, 05/15/2029		5,000,000		5,395,508	0.7%
2.625%, 02/28/2023		3,000,000		3,121,055	0.4%
2.750%, 04/30/2023		3,500,000		3,660,645	0.5%
2.875%, 11/30/2023 to 05/15/2028		9,300,000		10,206,774	1.4%
OTHER SECURITIES				2,191,094	0.3%
				198,422,777
Federal Home Loan Bank - 0.3%				2,485,868	0.3%
Federal Home Loan Mortgage Corp. - 4.0%
2.500%, 04/01/2031 to 08/01/2050		5,501,649		5,703,942	0.8%

Total Bond Market Trust (continued)

		Shares or Principal Amount	Value		% of Net Assets
U.S. GOVERNMENT AND AGENCY OBLIGATIONS (continued)
Federal Home Loan Mortgage Corp. (continued)
3.000%, 07/01/2032 to 08/01/2046	$	5,066,716	$	5,369,956	0.7%
3.500%, 12/01/2025 to 06/01/2048		4,068,867		4,343,509	0.7%
4.500%, 05/01/2024 to 11/01/2048		3,141,869		3,417,592	0.4%
OTHER SECURITIES				10,689,039	1.4%
				29,524,038
Federal National Mortgage Association - 17.6%
2.000%, 02/01/2035 to 11/01/2050		13,037,127		13,257,919	1.8%
2.000%, TBA (A)		16,700,000		16,873,770	2.3%
2.500%, 05/01/2028 to 11/01/2050		15,826,755		16,400,532	2.2%
2.500%, TBA (A)		4,000,000		4,171,252	0.6%
3.000%, 01/01/2027 to 12/01/2049		13,492,834		14,261,468	2.1%
3.000%, TBA (A)		16,400,000		17,097,003	2.3%
3.500%, 12/01/2025 to 10/01/2049		13,153,927		14,018,584	1.9%
3.500%, TBA (A)		8,000,000		8,419,996	1.1%
4.000%, 03/01/2024 to 09/01/2049		11,931,846		12,802,739	1.8%
4.500%, 08/01/2024 to 09/01/2048		2,575,976		2,828,632	0.3%
OTHER SECURITIES				11,238,685	1.2%
				131,370,580
Government National Mortgage Association - 6.2%
2.500%, TBA (A)		8,000,000		8,279,233	1.1%
3.000%, 08/15/2043 to 08/20/2050		8,137,745		8,568,520	1.1%
3.000%, TBA (A)		5,000,000		5,206,743	0.7%
3.500%, 04/15/2042 to 04/20/2050		8,407,671		8,984,667	1.3%
3.500%, TBA (A)		2,800,000		2,926,962	0.4%
4.000%, 11/15/2026 to 08/20/2048		4,761,231		5,125,725	0.7%
4.500%, 06/15/2023 to 04/20/2050		2,555,210		2,769,980	0.5%

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Total Bond Market Trust (continued)

		Shares or Principal Amount	Value		% of Net Assets
U.S. GOVERNMENT AND AGENCY OBLIGATIONS (continued)
Government National Mortgage Association (continued)
OTHER SECURITIES			$	4,049,118	0.4%
				45,910,948
TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $463,814,695)			$	480,887,606
FOREIGN GOVERNMENT OBLIGATIONS - 1.0%
Brazil - 0.2%				1,739,574	0.2%
Canada - 0.2%				1,506,055	0.2%
Israel - 0.1%				506,356	0.1%
Italy - 0.0%				339,720	0.0%
Japan - 0.1%				843,323	0.1%
Mexico - 0.2%				1,165,662	0.2%
Panama - 0.1%				501,905	0.1%
Peru - 0.0%				344,065	0.0%
Turkey - 0.1%				777,615	0.1%
TOTAL FOREIGN GOVERNMENT OBLIGATIONS (Cost $7,389,898)			$	7,724,275
CORPORATE BONDS - 28.9%
Communication services - 2.7%				20,182,465	2.7%
Consumer discretionary - 1.7%				12,814,779	1.7%
Consumer staples - 1.6%				11,858,888	1.6%
Energy - 2.5%				18,539,355	2.5%
Financials - 7.3%				54,430,578	7.3%
Health care - 3.8%				28,438,881	3.8%
Industrials - 2.9%				21,406,401	2.9%
Information technology - 2.6%				18,932,917	2.6%
Materials - 0.9%				6,761,050	0.9%
Real estate - 0.6%				4,527,571	0.6%
Utilities - 2.3%				17,085,108	2.3%
TOTAL CORPORATE BONDS (Cost $196,625,485)			$	214,977,993
MUNICIPAL BONDS - 0.7%				4,874,874	0.7%
TOTAL MUNICIPAL BONDS (Cost $3,741,630)			$	4,874,874
COLLATERALIZED MORTGAGE OBLIGATIONS - 2.4%
Commercial and residential - 2.1%
GS Mortgage Securities Trust Series 2016-GS4, Class A3, 3.178%, 11/10/2049	$	3,000,000		3,161,885	0.4%
GS Mortgage Securities Trust Series 2017-GS5, Class A3, 3.409%, 03/10/2050		3,000,000		3,284,152	0.4%
OTHER SECURITIES				9,356,851	1.3%
				15,802,888
Federal Home Loan Mortgage Corp. - 0.3%				2,279,491	0.3%
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $17,556,718)			$	18,082,379

Total Bond Market Trust (continued)

	Shares or Principal Amount	Value		% of Net Assets
COMMON STOCKS - 0.0%
Energy - 0.0%		$	940	0.0%
TOTAL COMMON STOCKS (Cost $508)		$	940
WARRANTS - 0.0%			2,379	0.0%
TOTAL WARRANTS (Cost $696)		$	2,379
SHORT-TERM INVESTMENTS - 11.4%
Short-term funds - 11.4%
John Hancock Collateral Trust, 0.0324% (B)(C)	397,568		3,977,512	0.6%
State Street Institutional U.S. Government Money Market Fund, Premier Class, 0.0250% (B)	80,575,403		80,575,403	10.8%
			84,552,915
TOTAL SHORT-TERM INVESTMENTS (Cost $84,553,035)		$	84,552,915
Total Investments (Total Bond Market Trust) (Cost $773,682,665) - 108.9%		$	811,103,361	108.9%
Other assets and liabilities, net - (8.9)%			(66,019,603)	(8.9%)
TOTAL NET ASSETS - 100.0%		$	745,083,758	100.0%

Security Abbreviations and Legend
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.
(A)	Security purchased or sold on a when-issued or delayed delivery basis.
(B)	The rate shown is the annualized seven-day yield as of 6-30-21.
(C)	Investment is an affiliate of the fund, the advisor and/or subadvisor. This security represents the investment of cash collateral received for securities lending.

Ultra Short Term Bond Trust

		Shares or Principal Amount	Value		% of Net Assets
U.S. GOVERNMENT AND AGENCY OBLIGATIONS - 1.0%
Federal Home Loan Mortgage Corp. - 0.4%			$	1,025,760	0.4%
Federal National Mortgage Association - 0.5%				1,579,301	0.5%
Government National Mortgage Association - 0.1%				247,980	0.1%
TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $2,862,952)			$	2,853,041
CORPORATE BONDS - 51.7%
Communication services - 2.9%
AT&T, Inc. 3.000%, 06/30/2022	$	3,200,000		3,272,095	1.1%
Verizon Communications, Inc. 0.750%, 03/22/2024		3,000,000		3,012,893	1.1%
OTHER SECURITIES				2,070,578	0.7%
				8,355,566
Consumer discretionary - 4.3%
eBay, Inc. 2.750%, 01/30/2023		3,000,000		3,104,512	1.1%
Volkswagen Group of America Finance LLC 3.125%, 05/12/2023 (A)		3,000,000		3,132,656	1.1%
OTHER SECURITIES				6,070,453	2.1%
				12,307,621

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Ultra Short Term Bond Trust (continued)

		Shares or Principal Amount	Value		% of Net Assets
CORPORATE BONDS (continued)
Consumer staples - 1.0%
The Kroger Company 2.800%, 08/01/2022	$	2,791,000	$	2,858,377	1.0%
Energy - 3.3%
Energy Transfer Operating LP 4.500%, 11/01/2023		3,000,000		3,219,715	1.1%
Halliburton Company 3.250%, 11/15/2021		3,000,000		3,010,353	1.1%
The Williams Companies, Inc. 4.500%, 11/15/2023		3,000,000		3,247,615	1.1%
				9,477,683
Financials - 25.5%
Alexander Funding Trust 1.841%, 11/15/2023 (A)		3,000,000		3,054,802	1.1%
Athene Global Funding 0.950%, 01/08/2024 (A)		3,000,000		3,002,406	1.0%
Capital One Financial Corp. 3.750%, 04/24/2024		3,176,000		3,431,164	1.2%
Citigroup, Inc. (2.876% to 7-24-22, then 3 month LIBOR + 0.950%) 2.876%, 07/24/2023		3,000,000		3,077,024	1.1%
Credit Suisse Group Funding Guernsey, Ltd. 3.800%, 09/15/2022		3,000,000		3,121,745	1.1%
Five Corners Funding Trust 4.419%, 11/15/2023 (A)		3,000,000		3,270,569	1.1%
JPMorgan Chase & Co. (1.514% to 6-1-23, then SOFR + 1.455%) 1.514%, 06/01/2024		5,000,000		5,098,582	1.8%
Metropolitan Life Global Funding I 3.375%, 01/11/2022 (A)		3,000,000		3,050,020	1.1%
Morgan Stanley (3.737% to 4-24-23, then 3 month LIBOR + 0.847%) 3.737%, 04/24/2024		3,000,000		3,172,817	1.1%
NatWest Markets PLC 3.625%, 09/29/2022 (A)		5,000,000		5,200,117	1.8%
Santander Holdings USA, Inc. 3.244%, 10/05/2026		3,000,000		3,204,362	1.1%
The Bank of New York Mellon Corp. 3.450%, 08/11/2023		3,000,000		3,195,125	1.1%
The Bank of Nova Scotia 1.950%, 02/01/2023		3,000,000		3,075,714	1.1%
Truist Bank 2.625%, 01/15/2022		3,000,000		3,033,128	1.1%
Wells Fargo & Company 3.750%, 01/24/2024		3,000,000		3,226,348	1.1%
OTHER SECURITIES				22,027,550	7.6%
				73,241,473
Health care - 3.5%
Abbott Laboratories 2.550%, 03/15/2022		3,000,000		3,049,000	1.1%
Cigna Corp. 0.613%, 03/15/2024		3,000,000		2,998,461	1.0%
OTHER SECURITIES				4,019,116	1.4%
				10,066,577

Ultra Short Term Bond Trust (continued)

		Shares or Principal Amount	Value		% of Net Assets
CORPORATE BONDS (continued)
Industrials - 3.1%
CNH Industrial Capital LLC 4.375%, 04/05/2022	$	2,500,000	$	2,571,733	0.9%
OTHER SECURITIES				6,197,201	2.2%
				8,768,934
Information technology - 4.0%
IBM Corp. 2.850%, 05/13/2022		2,835,000		2,900,099	1.0%
NXP BV 4.875%, 03/01/2024 (A)		3,000,000		3,302,406	1.2%
Oracle Corp. 2.625%, 02/15/2023		3,000,000		3,100,572	1.1%
OTHER SECURITIES				2,086,950	0.7%
				11,390,027
Materials - 2.1%
Georgia-Pacific LLC 0.625%, 05/15/2024 (A)		3,000,000		2,987,676	1.1%
Graphic Packaging International LLC 0.821%, 04/15/2024 (A)		3,000,000		2,977,798	1.0%
				5,965,474
Utilities - 2.0%				5,857,699	2.0%
TOTAL CORPORATE BONDS (Cost $147,053,541)			$	148,289,431
MUNICIPAL BONDS - 0.7%				2,025,452	0.7%
TOTAL MUNICIPAL BONDS (Cost $2,000,000)			$	2,025,452
COLLATERALIZED MORTGAGE OBLIGATIONS - 1.1%
Commercial and residential - 0.8%				2,319,687	0.8%
Federal National Mortgage Association - 0.3%				698,151	0.3%
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost $2,999,366)			$	3,017,838
ASSET BACKED SECURITIES - 11.5%
Ally Auto Receivables Trust Series 2019-4, Class A3, 1.840%, 06/17/2024		2,706,250		2,730,788	1.0%
American Tower Trust Series 2013, Class 2A, 3.070%, 03/15/2048 (A)		2,500,000		2,512,161	0.9%
Nissan Auto Receivables Owner Trust Series 2018-A, Class A4, 2.890%, 06/17/2024		3,477,424		3,510,776	1.2%
Nissan Auto Receivables Owner Trust Series 2019-B, Class A3, 2.500%, 11/15/2023		2,172,061		2,201,690	0.8%
OTHER SECURITIES				22,086,415	7.6%
TOTAL ASSET BACKED SECURITIES (Cost $33,269,310)			$	33,041,830
SHORT-TERM INVESTMENTS - 33.3%
Commercial paper - 13.8%
Apple, Inc., 0.020%, 09/08/2021 *		3,000,000		2,999,749	1.0%
Chariot Acquisition LLC, 0.070%, 09/13/2021 *		3,000,000		2,999,438	1.0%
Cooperative Centrale, 0.050%, 08/03/2021 *		3,000,000		2,999,802	1.0%
Lime Funding LLC, 0.110%, 07/21/2021 *		3,000,000		2,999,843	1.0%

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

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Ultra Short Term Bond Trust (continued)

		Shares or Principal Amount	Value		% of Net Assets
SHORT-TERM INVESTMENTS (continued)
Commercial paper (continued)
Manhattan Asset Funding Company LLC, 0.080%, 08/24/2021 *	$	3,000,000	$	2,999,510	1.0%
MUFG Bank, Ltd., 0.050%, 07/20/2021 *		3,000,000		2,999,893	1.1%
National Rural Utilities Cooperative Finance Corp., 0.070%, 07/01/2021 *		3,000,000		2,999,994	1.1%
Novartis AG, 0.020%, 07/30/2021 *		3,000,000		2,999,850	1.0%
Salt River Project Agricultural Improvement & Power District, 0.070%, 08/17/2021 *		3,000,000		2,999,633	1.0%
The University of Chicago, 0.030%, 07/15/2021 *		3,000,000		2,999,928	1.1%
OTHER SECURITIES				9,549,028	3.5%
				39,546,668
U.S. Government - 16.4%
U.S. Treasury Bill, 0.009%, 07/08/2021 *		13,000,000		12,999,902	4.5%
U.S. Treasury Bill, 0.041%, 07/22/2021 *		11,000,000		10,999,694	3.9%
U.S. Treasury Bill, 0.048%, 08/10/2021 *		15,000,000		14,999,204	5.2%
U.S. Treasury Bill, 0.050%, 08/24/2021 *		8,000,000		7,999,460	2.8%
				46,998,260
Short-term funds - 3.1%
State Street Institutional U.S. Government Money Market Fund, Premier Class, 0.0250% (B)		8,816,874		8,816,874	3.1%
TOTAL SHORT-TERM INVESTMENTS (Cost $95,362,860)			$	95,361,802
Total Investments (Ultra Short Term Bond Trust) (Cost $283,548,029) - 99.3%			$	284,589,394	99.3%
Other assets and liabilities, net - 0.7%				2,052,150	0.7%
TOTAL NET ASSETS - 100.0%			$	286,641,544	100.0%

Security Abbreviations and Legend
LIBOR	London Interbank Offered Rate
SOFR	Secured Overnight Financing Rate
(A)	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. Rule 144A securities amounted to $53,427,039 or 18.6% of the fund's net assets as of 6-30-21.
(B)	The rate shown is the annualized seven-day yield as of 6-30-21.
*	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.

Table of Contents

John Hancock Variable Insurance Trust

Summary Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

The following portfolios had the following country composition as a percentage of net assets, unless otherwise indicated, on 6-30-21:

High Yield Trust

United States	81.5%
Cayman Islands	6.0%
Canada	3.8%
United Kingdom	1.5%
Luxembourg	1.1%
Other countries	6.1%
TOTAL	100.0%

Investment Quality Bond Trust (as a percentage of total investments)

United States	88.2%
Cayman Islands	3.2%
Mexico	1.0%
Other countries	7.6%
TOTAL	100.0%

Strategic Income Opportunities Trust

United States	55.8%
Canada	6.8%
Indonesia	3.6%
Luxembourg	3.5%
United Kingdom	2.4%
Supranational	1.8%
France	1.7%
Mexico	1.6%
Australia	1.6%
Brazil	1.6%
Other countries	19.6%
TOTAL	100.0%

Ultra Short Term Bond Trust

United States	89.8%
United Kingdom	3.3%
Netherlands	1.9%
Canada	1.8%
Guernsey, Channel Islands	1.1%
Other countries	2.1%
TOTAL	100.0%

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

Table of Contents

John Hancock Variable Insurance Trust

Statements of assets and liabilities — June 30, 2021 (unaudited)

Assets	Active Bond Trust	Core Bond Trust	High Yield Trust	Investment Quality Bond Trust
Unaffiliated investments, at value (including securities loaned)	$794,618,666	$1,117,183,956	$209,776,854	$365,014,433
Affiliated investments, at value	3,411,275	1,639,149	3,452,532	611,242
Repurchase agreements, at value	9,688,000	—	—	5,700,000
Total investments, at value	807,717,941	1,118,823,105	213,229,386	371,325,675
Receivable for centrally cleared swaps	—	—	698,903	—
Unrealized appreciation on forward foreign currency contracts	—	—	3,780	177,309
Cash	1,236,635	761,200	79,248	49,737
Foreign currency, at value	—	—	46,979	—
Collateral held at broker for futures contracts	—	—	114,141	—
Collateral segregated at custodian for OTC derivative contracts	—	—	40,000	60,000
Dividends and interest receivable	4,870,243	3,564,829	2,767,717	1,464,889
Receivable for fund shares sold	3,680,048	42,229	1,030,128	3,407,309
Receivable for investments sold	529,844	24,022,853	918,444	203,505
Receivable for delayed delivery securities sold	—	76,480,395	—	24,124,052
Receivable for securities lending income	1,386	185	4,307	651
Other assets	21,667	29,712	8,358	9,481
Total assets	818,057,764	1,223,724,508	218,941,391	400,822,608
Liabilities
Unrealized depreciation on forward foreign currency contracts	—	—	2,850	10,053
Written options, at value	—	—	—	96,399
Swap contracts, at value	—	—	—	935,409
Payable for centrally cleared swaps	—	—	—	33,293
Payable for futures variation margin	—	—	13,076	164,949
Payable for collateral on sale commitments	—	30,000	—	—
Payable for investments purchased	1,514,995	26,731,351	4,122,587	4,362,511
Payable for delayed delivery securities purchased	77,085,558	160,112,368	—	122,003,841
Payable for fund shares repurchased	—	145,012	2,192	—
Payable upon return of securities loaned	3,400,955	1,645,625	3,456,328	609,048
Payable to affiliates
Accounting and legal services fees	30,092	42,850	8,361	11,251
Other liabilities and accrued expenses	143,596	157,566	85,459	105,286
Total liabilities	82,175,196	188,864,772	7,690,853	128,332,040
Net assets	$735,882,568	$1,034,859,736	$211,250,538	$272,490,568
Net assets consist of
Paid-in capital	$674,560,708	$973,303,398	$267,401,943	$251,765,587
Total distributable earnings (loss)	61,321,860	61,556,338	(56,151,405)	20,724,981
Net assets	$735,882,568	$1,034,859,736	$211,250,538	$272,490,568
Unaffiliated investments, including repurchase agreements, at cost	$772,071,619	$1,110,009,955	$214,217,551	$363,090,511
Affiliated investments, at cost	$3,411,360	$1,639,157	$3,452,616	$611,256
Foreign currency, at cost	—	—	$45,259	—
Premiums received on written options	—	—	—	$179,120
Net unamortized upfront payment on OTC swaps	—	—	—	$(290,782)
Securities loaned, at value	$3,321,238	$1,607,286	$3,369,747	$560,534
Net asset value per share
The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class.
Series I
Net assets	$35,038,225	$88,165,930	$65,822,898	$138,515,124
Shares outstanding	3,411,438	6,303,432	11,984,593	11,529,103
Net asset value, offering price and redemption price per share	$10.27	$13.99	$5.49	$12.01
Series II
Net assets	$152,717,163	$80,809,177	$52,110,630	$77,138,268
Shares outstanding	14,855,010	5,790,246	9,255,909	6,423,133
Net asset value, offering price and redemption price per share	$10.28	$13.96	$5.63	$12.01
Series NAV
Net assets	$548,127,180	$865,884,629	$93,317,010	$56,837,176
Shares outstanding	53,318,646	62,185,936	17,288,384	4,747,474
Net asset value, offering price and redemption price per share	$10.28	$13.92	$5.40	$11.97

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

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John Hancock Variable Insurance Trust

Statements of assets and liabilities — June 30, 2021 (unaudited)

Assets	Money Market Trust	Opportunistic Fixed Income Trust	Select Bond Trust	Short Term Government Income Trust
Unaffiliated investments, at value (including securities loaned)	$2,111,852,388	$207,518,828	$7,933,552,974	$181,569,252
Affiliated investments, at value	—	—	13,419,808	—
Repurchase agreements, at value	16,900,000	—	366,701,000	1,666,000
Total investments, at value	2,128,752,388	207,518,828	8,313,673,782	183,235,252
Swap contracts, at value	—	1,722,933	—	—
Receivable for centrally cleared swaps	—	1,502,104	—	—
Unrealized appreciation on forward foreign currency contracts	—	703,152	—	—
Cash	51,949	420,196	284	704
Foreign currency, at value	—	512,497	—	—
Collateral held at broker for futures contracts	—	1,340,000	—	—
Collateral segregated at custodian for OTC derivative contracts	—	517,000	—	—
Dividends and interest receivable	1,275,481	1,613,547	41,537,194	703,788
Receivable for fund shares sold	2,035,159	935,300	14,657,948	—
Receivable for investments sold	—	1,403,621	35,586,164	—
Receivable for securities lending income	—	—	3,178	—
Receivable from affiliates	14,687	584	161	—
Other assets	50,437	9,969	217,832	8,657
Total assets	2,132,180,101	218,199,731	8,405,676,543	183,948,401
Liabilities
Unrealized depreciation on forward foreign currency contracts	—	615,061	—	—
Swap contracts, at value	—	2,133,503	—	—
Payable for futures variation margin	—	49,044	—	—
Payable for collateral on OTC derivatives	—	960,000	—	—
Payable for investments purchased	—	3,200,771	88,666,212	—
Payable for delayed delivery securities purchased	—	555,688	256,288,114	—
Payable for fund shares repurchased	3,104,340	78,709	3,147,193	7,606
Payable upon return of securities loaned	—	—	13,385,881	—
Payable to affiliates
Accounting and legal services fees	90,494	8,519	331,973	7,714
Other liabilities and accrued expenses	306,307	170,614	867,132	75,189
Total liabilities	3,501,141	7,771,909	362,686,505	90,509
Net assets	$2,128,678,960	$210,427,822	$8,042,990,038	$183,857,892
Net assets consist of
Paid-in capital	$2,128,628,534	$194,283,375	$7,613,777,621	$205,541,771
Total distributable earnings (loss)	50,426	16,144,447	429,212,417	(21,683,879)
Net assets	$2,128,678,960	$210,427,822	$8,042,990,038	$183,857,892
Unaffiliated investments, including repurchase agreements, at cost	$2,128,752,388	$206,019,301	$8,091,120,817	$181,778,945
Affiliated investments, at cost	—	—	$13,420,269	—
Foreign currency, at cost	—	$511,870	—	—
Net unamortized upfront payment on OTC swaps	—	$(620,022)	—	—
Collateral held at broker for centrally cleared swaps	—	$1,575,000	—	—
Securities loaned, at value	—	—	$13,119,110	—
Net asset value per share
The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class.
Series I
Net assets	$1,587,828,397	$31,703,567	$179,601,345	$32,190,750
Shares outstanding	1,587,841,665	2,360,684	12,432,291	2,637,880
Net asset value, offering price and redemption price per share	$1.00	$13.43	$14.45	$12.20
Series II
Net assets	$87,900,209	$58,561,497	$424,402,709	$21,792,857
Shares outstanding	87,879,852	4,434,986	29,370,684	1,786,623
Net asset value, offering price and redemption price per share	$1.00	$13.20	$14.45	$12.20
Series NAV
Net assets	$452,950,354	$120,162,758	$7,438,985,984	$129,874,285
Shares outstanding	452,946,236	8,980,969	515,139,417	10,642,293
Net asset value, offering price and redemption price per share	$1.00	$13.38	$14.44	$12.20

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

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John Hancock Variable Insurance Trust

Statements of assets and liabilities — June 30, 2021 (unaudited)

Assets	Strategic Income Opportunities Trust	Total Bond Market Trust	Ultra Short Term Bond Trust
Unaffiliated investments, at value (including securities loaned)	$447,550,981	$807,125,849	$284,589,394
Affiliated investments, at value	3,420,435	3,977,512	—
Repurchase agreements, at value	12,414,000	—	—
Total investments, at value	463,385,416	811,103,361	284,589,394
Unrealized appreciation on forward foreign currency contracts	460,733	—	—
Cash	4,686	264,527	158,641
Foreign currency, at value	766,652	—	—
Collateral held at broker for futures contracts	2,586,000	—	—
Collateral segregated at custodian for OTC derivative contracts	10,000	—	—
Dividends and interest receivable	4,323,804	3,672,354	1,267,008
Receivable for fund shares sold	615,605	2,128,082	760,116
Receivable for investments sold	1,346,495	—	—
Receivable for securities lending income	950	1,163	255
Receivable from affiliates	—	7,544	—
Other assets	15,294	21,568	10,457
Total assets	473,515,635	817,198,599	286,785,871
Liabilities
Unrealized depreciation on forward foreign currency contracts	298,890	—	—
Written options, at value	116,728	—	—
Payable for futures variation margin	310,857	—	—
Payable for investments purchased	11,903,396	1,655	—
Payable for delayed delivery securities purchased	—	67,305,813	—
Payable for fund shares repurchased	672,067	705,818	57,117
Payable upon return of securities loaned	3,421,310	3,950,812	—
Payable to affiliates
Accounting and legal services fees	19,031	30,716	12,499
Other liabilities and accrued expenses	134,807	120,027	74,711
Total liabilities	16,877,086	72,114,841	144,327
Net assets	$456,638,549	$745,083,758	$286,641,544
Net assets consist of
Paid-in capital	$424,502,690	$702,889,313	$305,173,352
Total distributable earnings (loss)	32,135,859	42,194,445	(18,531,808)
Net assets	$456,638,549	$745,083,758	$286,641,544
Unaffiliated investments, including repurchase agreements, at cost	$445,386,547	$769,705,033	$283,548,029
Affiliated investments, at cost	$3,420,553	$3,977,632	—
Foreign currency, at cost	$772,798	—	—
Premiums received on written options	$386,263	—	—
Securities loaned, at value	$3,348,590	$3,847,934	—
Net asset value per share
The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class.
Series I
Net assets	$321,702,918	$354,775,439	$12,798,940
Shares outstanding	21,987,331	33,173,995	1,116,920
Net asset value, offering price and redemption price per share	$14.63	$10.69	$11.46
Series II
Net assets	$43,136,122	$67,224,730	$237,285,264
Shares outstanding	2,943,364	6,283,813	20,729,960
Net asset value, offering price and redemption price per share	$14.66	$10.70	$11.45
Series NAV
Net assets	$91,799,509	$323,083,589	$36,557,340
Shares outstanding	6,292,513	30,213,368	3,188,603
Net asset value, offering price and redemption price per share	$14.59	$10.69	$11.47

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

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John Hancock Variable Insurance Trust

Statements of operations — For the six months ended June 30, 2021 (unaudited)

Investment income	Active Bond Trust	Core Bond Trust	High Yield Trust	Investment Quality Bond Trust
Interest	$11,138,395	$7,502,038	$5,616,592	$3,431,339
Dividends from unaffiliated investments	41,738	—	76,551	—
Securities lending	7,347	4,409	11,807	3,706
Less foreign taxes withheld	—	—	(44)	—
Total investment income	11,187,480	7,506,447	5,704,906	3,435,045
Expenses
Investment management fees	2,175,676	2,914,646	690,219	794,227
Distribution and service fees	193,827	123,570	75,063	130,484
Accounting and legal services fees	47,356	67,483	13,084	17,547
Trustees' fees	7,256	10,218	2,033	2,680
Custodian fees	57,559	63,842	18,779	34,967
Printing and postage	10,498	11,715	7,110	7,526
Professional fees	37,020	40,826	42,598	43,694
Other	29,425	23,815	8,543	10,504
Total expenses	2,558,617	3,256,115	857,429	1,041,629
Less expense reductions	(31,603)	(44,683)	(8,599)	(11,543)
Net expenses	2,527,014	3,211,432	848,830	1,030,086
Net investment income	8,660,466	4,295,015	4,856,076	2,404,959
Realized and unrealized gain (loss)
Net realized gain (loss) on
Unaffiliated investments and foreign currency transactions	3,063,681	(240,719)	3,898,329	613,866
Affiliated investments	(571)	(498)	(742)	(249)
Futures contracts	—	—	(106,006)	2,004,732
Forward foreign currency contracts	—	—	(6,366)	202,305
Swap contracts	—	—	118,739	105,687
	3,063,110	(241,217)	3,903,954	2,926,341
Change in net unrealized appreciation (depreciation) of
Unaffiliated investments and translation of assets and liabilities in foreign currencies	(16,624,431)	(22,198,707)	(346,886)	(8,585,478)
Affiliated investments	113	202	124	106
Futures contracts	—	—	(38,579)	(857,309)
Forward foreign currency contracts	—	—	(11,944)	227,888
Written options	—	—	—	82,721
Swap contracts	—	—	(50,023)	361,107
	(16,624,318)	(22,198,505)	(447,308)	(8,770,965)
Net realized and unrealized gain (loss)	(13,561,208)	(22,439,722)	3,456,646	(5,844,624)
Increase (decrease) in net assets from operations	$(4,900,742)	$(18,144,707)	$8,312,722	$(3,439,665)

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

Table of Contents

John Hancock Variable Insurance Trust

Statements of operations — For the six months ended June 30, 2021 (unaudited)

Investment income	Money Market Trust	Opportunistic Fixed Income Trust	Select Bond Trust	Short Term Government Income Trust
Interest	$913,211	$3,762,670	$102,684,495	$1,701,875
Dividends from unaffiliated investments	—	148,769	262,730	—
Securities lending	—	189	—	1,443
Less foreign taxes withheld	—	(96,699)	(4,285)	—
Total investment income	913,211	3,814,929	102,942,940	1,703,318
Expenses
Investment management fees	3,958,823	645,705	22,255,272	539,431
Distribution and service fees	543,222	79,980	565,532	42,009
Accounting and legal services fees	141,224	13,273	522,428	12,308
Trustees' fees	22,515	2,041	76,556	1,985
Custodian fees	159,447	54,058	415,671	16,881
Printing and postage	21,833	8,672	51,812	7,031
Professional fees	40,602	61,341	102,431	37,317
Other	31,872	14,677	132,217	9,251
Total expenses	4,919,538	879,747	24,121,919	666,213
Less expense reductions	(4,082,358)	(29,117)	(1,159,290)	(8,245)
Net expenses	837,180	850,630	22,962,629	657,968
Net investment income	76,031	2,964,299	79,980,311	1,045,350
Realized and unrealized gain (loss)
Net realized gain (loss) on
Unaffiliated investments and foreign currency transactions	564	1,554,820	32,630,742	281,680
Affiliated investments	—	(47)	(5,451)	—
Futures contracts	—	(764,848)	—	—
Forward foreign currency contracts	—	1,310,679	—	—
Swap contracts	—	1,229,850	—	—
	564	3,330,454	32,625,291	281,680
Change in net unrealized appreciation (depreciation) of
Unaffiliated investments and translation of assets and liabilities in foreign currencies	—	(6,449,262)	(189,924,788)	(2,665,899)
Affiliated investments	—	5	799	—
Futures contracts	—	6,663	—	—
Forward foreign currency contracts	—	135,295	—	—
Swap contracts	—	(454,342)	—	—
	—	(6,761,641)	(189,923,989)	(2,665,899)
Net realized and unrealized gain (loss)	564	(3,431,187)	(157,298,698)	(2,384,219)
Increase (decrease) in net assets from operations	$76,595	$(466,888)	$(77,318,387)	$(1,338,869)

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

Table of Contents

John Hancock Variable Insurance Trust

Statements of operations — For the six months ended June 30, 2021 (unaudited)

Investment income	Strategic Income Opportunities Trust	Total Bond Market Trust	Ultra Short Term Bond Trust
Interest	$7,044,056	$7,265,085	$1,705,602
Dividends from unaffiliated investments	678,672	—	—
Securities lending	1,805	5,004	7,946
Less foreign taxes withheld	(95,414)	—	—
Total investment income	7,629,119	7,270,089	1,713,548
Expenses
Investment management fees	1,448,655	1,780,826	828,548
Distribution and service fees	130,689	183,129	322,248
Accounting and legal services fees	29,937	48,920	19,714
Trustees' fees	4,573	7,550	3,004
Custodian fees	54,543	51,550	23,805
Printing and postage	8,594	10,802	7,809
Professional fees	46,228	33,258	31,058
Other	15,523	21,570	10,538
Total expenses	1,738,742	2,137,605	1,246,724
Less expense reductions	(19,786)	(1,002,818)	(104,207)
Net expenses	1,718,956	1,134,787	1,142,517
Net investment income	5,910,163	6,135,302	571,031
Realized and unrealized gain (loss)
Net realized gain (loss) on
Unaffiliated investments and foreign currency transactions	8,872,206	400,081	35,989
Affiliated investments	(581)	(686)	(871)
Futures contracts	3,715,540	—	—
Forward foreign currency contracts	1,050,121	—	—
Written options	270,618	—	—
	13,907,904	399,395	35,118
Change in net unrealized appreciation (depreciation) of
Unaffiliated investments and translation of assets and liabilities in foreign currencies	(11,797,898)	(21,427,037)	(938,383)
Affiliated investments	96	110	—
Futures contracts	(2,274,444)	—	—
Forward foreign currency contracts	51,193	—	—
Written options	386,582	—	—
	(13,634,471)	(21,426,927)	(938,383)
Net realized and unrealized gain (loss)	273,433	(21,027,532)	(903,265)
Increase (decrease) in net assets from operations	$6,183,596	$(14,892,230)	$(332,234)

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

Table of Contents

John Hancock Variable Insurance Trust

Statements of changes in net assets

	Active Bond Trust		Core Bond Trust		High Yield Trust
Increase (decrease) in net assets	Six months ended 6-30-21 (unaudited)	Year ended 12-31-20	Six months ended 6-30-21 (unaudited)	Year ended 12-31-20	Six months ended 6-30-21 (unaudited)	Year ended 12-31-20
From operations
Net investment income	$8,660,466	$18,813,771	$4,295,015	$14,670,631	$4,856,076	$10,155,187
Net realized gain (loss)	3,063,110	16,158,179	(241,217)	53,171,903	3,903,954	(3,031,540)
Change in net unrealized appreciation (depreciation)	(16,624,318)	26,070,803	(22,198,505)	14,550,900	(447,308)	3,195,230
Increase (decrease) in net assets resulting from operations	(4,900,742)	61,042,753	(18,144,707)	82,393,434	8,312,722	10,318,877
Distributions to shareholders
From earnings
Series I	—	(1,058,278)	—	(2,137,004)	—	(3,851,839)
Series II	—	(3,994,890)	—	(1,780,118)	—	(2,622,957)
Series NAV	—	(16,637,458)	—	(20,093,057)	—	(5,066,715)
Total distributions	—	(21,690,626)	—	(24,010,179)	—	(11,541,511)
From portfolio share transactions
Portfolio share transactions	(10,692,259)	(12,099,874)	8,127,333	(103,337,742)	6,290,558	(8,637,096)
Total increase (decrease)	(15,593,001)	27,252,253	(10,017,374)	(44,954,487)	14,603,280	(9,859,730)
Net assets
Beginning of period	751,475,569	724,223,316	1,044,877,110	1,089,831,597	196,647,258	206,506,988
End of period	$735,882,568	$751,475,569	$1,034,859,736	$1,044,877,110	$211,250,538	$196,647,258

	Investment Quality Bond Trust		Money Market Trust		Opportunistic Fixed Income Trust
Increase (decrease) in net assets	Six months ended 6-30-21 (unaudited)	Year ended 12-31-20	Six months ended 6-30-21 (unaudited)	Year ended 12-31-20	Six months ended 6-30-21 (unaudited)	Year ended 12-31-20
From operations
Net investment income	$2,404,959	$5,335,105	$76,031	$6,248,184	$2,964,299	$4,225,763
Net realized gain (loss)	2,926,341	5,573,094	564	24,370	3,330,454	15,829,213
Change in net unrealized appreciation (depreciation)	(8,770,965)	11,154,675	—	—	(6,761,641)	3,083,291
Increase (decrease) in net assets resulting from operations	(3,439,665)	22,062,874	76,595	6,272,554	(466,888)	23,138,267
Distributions to shareholders
From earnings
Series I	—	(3,163,148)	(58,160)	(4,603,716)	—	(1,186,256)
Series II	—	(1,625,848)	(3,156)	(280,622)	—	(2,097,869)
Series NAV	—	(1,081,930)	(14,715)	(1,363,845)	—	(3,929,619)
Total distributions	—	(5,870,926)	(76,031)	(6,248,183)	—	(7,213,744)
From portfolio share transactions
Portfolio share transactions	9,781,375	(6,736,992)	(273,510,892)	472,254,153	13,400,376	(16,255,271)
Total increase (decrease)	6,341,710	9,454,956	(273,510,328)	472,278,524	12,933,488	(330,748)
Net assets
Beginning of period	266,148,858	256,693,902	2,402,189,288	1,929,910,764	197,494,334	197,825,082
End of period	$272,490,568	$266,148,858	$2,128,678,960	$2,402,189,288	$210,427,822	$197,494,334

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

Table of Contents

John Hancock Variable Insurance Trust

Statements of changes in net assets

	Select Bond Trust		Short Term Government Income Trust		Strategic Income Opportunities Trust
Increase (decrease) in net assets	Six months ended 6-30-21 (unaudited)	Year ended 12-31-20	Six months ended 6-30-21 (unaudited)	Year ended 12-31-20	Six months ended 6-30-21 (unaudited)	Year ended 12-31-20
From operations
Net investment income	$79,980,311	$180,753,914	$1,045,350	$2,504,951	$5,910,163	$11,272,920
Net realized gain (loss)	32,625,291	275,679,040	281,680	1,008,203	13,907,904	4,583,320
Change in net unrealized appreciation (depreciation)	(189,923,989)	177,690,579	(2,665,899)	2,917,176	(13,634,471)	18,644,594
Increase (decrease) in net assets resulting from operations	(77,318,387)	634,123,533	(1,338,869)	6,430,330	6,183,596	34,500,834
Distributions to shareholders
From earnings
Series I	—	(5,078,662)	—	(586,755)	—	(5,373,280)
Series II	—	(11,829,321)	—	(459,125)	—	(509,859)
Series NAV	—	(211,716,697)	—	(2,286,164)	—	(1,399,714)
Total distributions	—	(228,624,680)	—	(3,332,044)	—	(7,282,853)
From portfolio share transactions
Portfolio share transactions	292,862,858	(879,797,390)	(8,731,088)	12,592,605	(6,896,316)	(46,338,927)
Total increase (decrease)	215,544,471	(474,298,537)	(10,069,957)	15,690,891	(712,720)	(19,120,946)
Net assets
Beginning of period	7,827,445,567	8,301,744,104	193,927,849	178,236,958	457,351,269	476,472,215
End of period	$8,042,990,038	$7,827,445,567	$183,857,892	$193,927,849	$456,638,549	$457,351,269

	Total Bond Market Trust		Ultra Short Term Bond Trust
Increase (decrease) in net assets	Six months ended 6-30-21 (unaudited)	Year ended 12-31-20	Six months ended 6-30-21 (unaudited)	Year ended 12-31-20
From operations
Net investment income	$6,135,302	$14,320,136	$571,031	$3,098,210
Net realized gain (loss)	399,395	2,669,029	35,118	587,737
Change in net unrealized appreciation (depreciation)	(21,426,927)	31,529,798	(938,383)	408,486
Increase (decrease) in net assets resulting from operations	(14,892,230)	48,518,963	(332,234)	4,094,433
Distributions to shareholders
From earnings
Series I	—	(9,152,472)	—	(251,265)
Series II	—	(1,636,397)	—	(4,521,502)
Series NAV	—	(7,042,157)	—	(669,716)
Total distributions	—	(17,831,026)	—	(5,442,483)
From portfolio share transactions
Portfolio share transactions	(38,405,618)	128,642,451	(17,276,255)	28,949,288
Total increase (decrease)	(53,297,848)	159,330,388	(17,608,489)	27,601,238
Net assets
Beginning of period	798,381,606	639,051,218	304,250,033	276,648,795
End of period	$745,083,758	$798,381,606	$286,641,544	$304,250,033

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

Table of Contents

John Hancock Variable Insurance Trust

Financial highlights

Per share operating performance for a share outstanding throughout each period												Ratios and supplemental data
		Income (loss) from investment operations				Less distributions						Ratios to average net assets
Period ended	Net asset value, beginning of period ($)	Net investment income (loss) ($)¹	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)²	Expenses before reductions (%)	Expenses including reductions (%)	Net investment income (loss) (%)	Net assets, end of period (in millions)	Portfolio turnover (%)
Active Bond Trust
Series I
06-30-2021³	10.34	0.12	(0.19)	(0.07)	—	—	—	10.27	(0.68)⁴	0.70⁵	0.69⁵	2.39⁵	35	53
12-31-2020	9.79	0.26	0.60	0.86	(0.31)	—	(0.31)	10.34	8.79	0.70	0.70	2.56	36	98
12-31-2019	9.21	0.29	0.56	0.85	(0.27)	—	(0.27)	9.79	9.25	0.70	0.70	2.96	37	88
12-31-2018	9.57	0.30	(0.36)	(0.06)	(0.30)	—	(0.30)	9.21	(0.60)	0.70	0.70	3.18	35	63
12-31-2017	9.45	0.29	0.17	0.46	(0.34)	—	(0.34)	9.57	4.84	0.70	0.69	3.01	38	86
12-31-2016	9.40	0.31	0.10	0.41	(0.36)	—	(0.36)	9.45	4.34	0.68⁶	0.68⁶	3.18	41	84
Series II
06-30-2021³	10.36	0.11	(0.19)	(0.08)	—	—	—	10.28	(0.77)⁴	0.90⁵	0.89⁵	2.19⁵	153	53
12-31-2020	9.81	0.24	0.60	0.84	(0.29)	—	(0.29)	10.36	8.57	0.90	0.90	2.36	156	98
12-31-2019	9.23	0.27	0.56	0.83	(0.25)	—	(0.25)	9.81	9.03	0.90	0.90	2.76	145	88
12-31-2018	9.59	0.28	(0.36)	(0.08)	(0.28)	—	(0.28)	9.23	(0.80)	0.90	0.90	2.98	141	63
12-31-2017	9.47	0.28	0.16	0.44	(0.32)	—	(0.32)	9.59	4.63	0.90	0.89	2.81	167	86
12-31-2016	9.41	0.29	0.11	0.40	(0.34)	—	(0.34)	9.47	4.23	0.88⁶	0.88⁶	2.98	167	84
Series NAV
06-30-2021³	10.34	0.12	(0.18)	(0.06)	—	—	—	10.28	(0.58)⁴	0.65⁵	0.64⁵	2.44⁵	548	53
12-31-2020	9.80	0.27	0.58	0.85	(0.31)	—	(0.31)	10.34	8.73	0.65	0.65	2.61	560	98
12-31-2019	9.22	0.29	0.57	0.86	(0.28)	—	(0.28)	9.80	9.30	0.65	0.65	3.01	542	88
12-31-2018	9.58	0.30	(0.36)	(0.06)	(0.30)	—	(0.30)	9.22	(0.55)	0.65	0.65	3.24	502	63
12-31-2017	9.46	0.30	0.16	0.46	(0.34)	—	(0.34)	9.58	4.89	0.65	0.64	3.06	535	86
12-31-2016	9.40	0.31	0.11	0.42	(0.36)	—	(0.36)	9.46	4.50	0.63⁶	0.63⁶	3.23	536	84
1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-21. Unaudited. 4. Not annualized. 5. Annualized. 6. Includes reimbursement for overbilling of custody expenses in prior years of 0.01%.
Core Bond Trust
Series I
06-30-2021³	14.23	0.06	(0.30)	(0.24)	—	—	—	13.99	(1.69)⁴	0.66⁵	0.65⁵	0.81⁵	88	154
12-31-2020	13.41	0.20	0.95	1.15	(0.33)	—	(0.33)	14.23	8.62	0.67	0.66	1.40	93	354
12-31-2019	12.68	0.32	0.74	1.06	(0.33)	—	(0.33)	13.41	8.32	0.67	0.66	2.42	92	446
12-31-2018	13.08	0.31	(0.39)	(0.08)	(0.32)	—	(0.32)	12.68	(0.59)	0.68	0.67	2.39	93	336
12-31-2017	13.09	0.24	0.20	0.44	(0.28)	(0.17)	(0.45)	13.08	3.40	0.67	0.67	1.83	108	332
12-31-2016	13.01	0.22	0.14	0.36	(0.27)	(0.01)	(0.28)	13.09	2.74	0.67	0.66	1.63	121	486
Series II
06-30-2021³	14.22	0.04	(0.30)	(0.26)	—	—	—	13.96	(1.83)⁴	0.86⁵	0.85⁵	0.61⁵	81	154
12-31-2020	13.39	0.17	0.97	1.14	(0.31)	—	(0.31)	14.22	8.50	0.87	0.86	1.20	85	354
12-31-2019	12.67	0.29	0.73	1.02	(0.30)	—	(0.30)	13.39	8.04	0.87	0.86	2.23	81	446
12-31-2018	13.07	0.28	(0.39)	(0.11)	(0.29)	—	(0.29)	12.67	(0.79)	0.88	0.87	2.18	82	336
12-31-2017	13.08	0.22	0.20	0.42	(0.26)	(0.17)	(0.43)	13.07	3.21	0.87	0.87	1.63	101	332
12-31-2016	13.00	0.19	0.14	0.33	(0.24)	(0.01)	(0.25)	13.08	2.54	0.87	0.86	1.43	114	486
Series NAV
06-30-2021³	14.17	0.06	(0.31)	(0.25)	—	—	—	13.92	(1.76)⁴	0.61⁵	0.60⁵	0.86⁵	866	154
12-31-2020	13.34	0.20	0.97	1.17	(0.34)	—	(0.34)	14.17	8.80	0.62	0.61	1.46	867	354
12-31-2019	12.62	0.33	0.72	1.05	(0.33)	—	(0.33)	13.34	8.34	0.62	0.61	2.47	918	446
12-31-2018	13.02	0.31	(0.39)	(0.08)	(0.32)	—	(0.32)	12.62	(0.54)	0.63	0.62	2.44	889	336
12-31-2017	13.03	0.25	0.20	0.45	(0.29)	(0.17)	(0.46)	13.02	3.47	0.62	0.62	1.88	1,037	332
12-31-2016	12.96	0.22	0.14	0.36	(0.28)	(0.01)	(0.29)	13.03	2.72	0.62	0.61	1.68	987	486
1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-21. Unaudited. 4. Not annualized. 5. Annualized.

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

Table of Contents

John Hancock Variable Insurance Trust

Financial highlights

Per share operating performance for a share outstanding throughout each period												Ratios and supplemental data
		Income (loss) from investment operations				Less distributions						Ratios to average net assets
Period ended	Net asset value, beginning of period ($)	Net investment income (loss) ($)¹	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)²	Expenses before reductions (%)	Expenses including reductions (%)	Net investment income (loss) (%)	Net assets, end of period (in millions)	Portfolio turnover (%)
High Yield Trust
Series I
06-30-2021³	5.27	0.13	0.09	0.22	—	—	—	5.49	4.17⁴	0.84⁵	0.83⁵	4.95⁵	66	42
12-31-2020	5.31	0.28	0.01	0.29	(0.33)	—	(0.33)	5.27	5.81	0.85	0.85	5.47	65	96
12-31-2019	4.84	0.30	0.46	0.76	(0.29)	—	(0.29)	5.31	15.66	0.80⁶	0.79⁶	5.62	68	57
12-31-2018	5.32	0.31	(0.47)	(0.16)	(0.32)	—	(0.32)	4.84	(3.01)	0.83	0.82	5.89	67	54
12-31-2017	5.23	0.30	0.09	0.39	(0.30)	—	(0.30)	5.32	7.50	0.85	0.84	5.62	81	61
12-31-2016	4.81	0.34	0.45	0.79	(0.37)	—	(0.37)	5.23	16.26	0.75⁶	0.74⁶	6.74	88	61
Series II
06-30-2021³	5.41	0.13	0.09	0.22	—	—	—	5.63	4.07⁴	1.04⁵	1.03⁵	4.75⁵	52	42
12-31-2020	5.44	0.28	0.01	0.29	(0.32)	—	(0.32)	5.41	5.67	1.05	1.05	5.27	47	96
12-31-2019	4.96	0.29	0.47	0.76	(0.28)	—	(0.28)	5.44	15.50	1.00⁶	0.99⁶	5.42	52	57
12-31-2018	5.43	0.31	(0.47)	(0.16)	(0.31)	—	(0.31)	4.96	(3.15)	1.03	1.02	5.69	50	54
12-31-2017	5.34	0.30	0.08	0.38	(0.29)	—	(0.29)	5.43	7.13	1.05	1.04	5.42	62	61
12-31-2016	4.91	0.34	0.45	0.79	(0.36)	—	(0.36)	5.34	16.16	0.95⁶	0.94⁶	6.54	65	61
Series NAV
06-30-2021³	5.18	0.13	0.09	0.22	—	—	—	5.40	4.25⁴	0.79⁵	0.78⁵	5.00⁵	93	42
12-31-2020	5.23	0.28	—⁷	0.28	(0.33)	—	(0.33)	5.18	5.77	0.80	0.80	5.52	84	96
12-31-2019	4.77	0.29	0.46	0.75	(0.29)	—	(0.29)	5.23	15.99	0.75⁶	0.74⁶	5.66	86	57
12-31-2018	5.24	0.31	(0.46)	(0.15)	(0.32)	—	(0.32)	4.77	(3.02)	0.78	0.77	5.94	80	54
12-31-2017	5.16	0.30	0.08	0.38	(0.30)	—	(0.30)	5.24	7.46	0.80	0.79	5.67	88	61
12-31-2016	4.75	0.34	0.44	0.78	(0.37)	—	(0.37)	5.16	16.56	0.70⁶	0.70⁶	6.77	97	61
1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-21. Unaudited. 4. Not annualized. 5. Annualized. 6. Includes reimbursement for overbilling of custody expenses in prior years of 0.06%. 7. Less than $0.005 per share.
Investment Quality Bond Trust
Series I
06-30-2021³	12.17	0.11	(0.27)	(0.16)	—	—	—	12.01	(1.23)⁴	0.74⁵	0.73⁵	1.86⁵	139	22
12-31-2020	11.39	0.26	0.80	1.06	(0.27)	(0.01)	(0.28)	12.17	9.37	0.75	0.74	2.15	142	51
12-31-2019	10.68	0.30	0.70	1.00	(0.29)	—	(0.29)	11.39	9.36	0.75	0.74	2.70	139	45
12-31-2018	11.15	0.29	(0.38)	(0.09)	(0.30)	(0.08)	(0.38)	10.68	(0.82)	0.73	0.72	2.66	135	44
12-31-2017	10.99	0.25	0.25	0.50	(0.29)	(0.05)	(0.34)	11.15	4.60	0.72	0.71	2.24	156	72
12-31-2016	10.84	0.27	0.20	0.47	(0.25)	(0.07)	(0.32)	10.99	4.29	0.67⁶	0.66⁶	2.44	161	60
Series II
06-30-2021³	12.18	0.10	(0.27)	(0.17)	—	—	—	12.01	(1.40)⁴	0.94⁵	0.93⁵	1.66⁵	77	22
12-31-2020	11.40	0.23	0.81	1.04	(0.25)	(0.01)	(0.26)	12.18	9.15	0.95	0.94	1.95	80	51
12-31-2019	10.69	0.28	0.70	0.98	(0.27)	—	(0.27)	11.40	9.15	0.95	0.94	2.49	76	45
12-31-2018	11.15	0.27	(0.37)	(0.10)	(0.28)	(0.08)	(0.36)	10.69	(0.93)	0.93	0.92	2.46	71	44
12-31-2017	11.00	0.23	0.24	0.47	(0.27)	(0.05)	(0.32)	11.15	4.30	0.92	0.91	2.04	83	72
12-31-2016	10.85	0.25	0.20	0.45	(0.23)	(0.07)	(0.30)	11.00	4.08	0.87⁶	0.86⁶	2.25	84	60
Series NAV
06-30-2021³	12.13	0.11	(0.27)	(0.16)	—	—	—	11.97	(1.32)⁴	0.69⁵	0.68⁵	1.92⁵	57	22
12-31-2020	11.35	0.26	0.81	1.07	(0.28)	(0.01)	(0.29)	12.13	9.46	0.70	0.69	2.19	44	51
12-31-2019	10.65	0.31	0.68	0.99	(0.29)	—	(0.29)	11.35	9.35	0.70	0.69	2.74	41	45
12-31-2018	11.11	0.30	(0.38)	(0.08)	(0.30)	(0.08)	(0.38)	10.65	(0.68)	0.68	0.67	2.72	39	44
12-31-2017	10.95	0.26	0.25	0.51	(0.30)	(0.05)	(0.35)	11.11	4.68	0.67	0.66	2.28	35	72
12-31-2016	10.81	0.27	0.20	0.47	(0.26)	(0.07)	(0.33)	10.95	4.26	0.63⁶	0.62⁶	2.44	52	60
1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-21. Unaudited. 4. Not annualized. 5. Annualized. 6. Includes reimbursement for overbilling of custody expenses in prior years of 0.02%.

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

Table of Contents

John Hancock Variable Insurance Trust

Financial highlights

Per share operating performance for a share outstanding throughout each period												Ratios and supplemental data
		Income (loss) from investment operations				Less distributions						Ratios to average net assets
Period ended	Net asset value, beginning of period ($)	Net investment income (loss) ($)¹	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)²	Expenses before reductions (%)	Expenses including reductions (%)	Net investment income (loss) (%)	Net assets, end of period (in millions)	Portfolio turnover (%)
Money Market Trust
Series I
06-30-2021³	1.00	—⁴	—⁴	—⁴	—	—	—	1.00	0.00⁵	0.44⁶	0.07⁶	0.01⁶	1,588	—
12-31-2020	1.00	0.003	—⁴	0.003	(0.003)	—	(0.003)	1.00	0.31	0.44	0.24	0.26	1,835	—
12-31-2019	1.00	0.019	—⁴	0.019	(0.019)	—	(0.019)	1.00	1.93	0.46	0.33	1.91	1,420	—
12-31-2018	1.00	0.015	—⁴	0.015	(0.015)	—	(0.015)	1.00	1.54	0.47	0.33	1.53	1,415	—
12-31-2017	1.00	0.006	—⁴	0.006	(0.006)	—⁴	(0.006)	1.00	0.59	0.46	0.33	0.58	1,372	—
12-31-2016	1.00	0.001	—⁴	0.001	(0.001)	—	(0.001)	1.00	0.07	0.48	0.35	0.07	1,718	—
Series II
06-30-2021³	1.00	—⁴	—⁴	—⁴	—	—	—	1.00	0.00⁵	0.64⁶	0.07⁶	0.01⁶	88	—
12-31-2020	1.00	0.003	(0.001)	0.002	(0.002)	—	(0.002)	1.00	0.24	0.64	0.32	0.26	100	—
12-31-2019	1.00	0.017	—⁴	0.017	(0.017)	—	(0.017)	1.00	1.73	0.66	0.53	1.73	120	—
12-31-2018	1.00	0.013	—⁴	0.013	(0.013)	—	(0.013)	1.00	1.34	0.67	0.53	1.31	140	—
12-31-2017	1.00	0.004	—⁴	0.004	(0.004)	—⁴	(0.004)	1.00	0.39	0.66	0.53	0.38	173	—
12-31-2016	1.00	—	—⁴	—⁴	—	—	—	1.00	0.00	0.68	0.42	—	211	—
Series NAV
06-30-2021³	1.00	—⁴	—⁴	—⁴	—	—	—	1.00	0.00⁵	0.39⁶	0.07⁶	0.01⁶	453	—
12-31-2020	1.00	0.003	—⁴	0.003	(0.003)	—	(0.003)	1.00	0.33	0.39	0.22	0.31	467	—
12-31-2019	1.00	0.020	—⁴	0.020	(0.020)	—	(0.020)	1.00	1.98	0.41	0.28	1.97	390	—
12-31-2018	1.00	0.016	—⁴	0.016	(0.016)	—	(0.016)	1.00	1.59	0.42	0.28	1.59	444	—
12-31-2017	1.00	0.006	—⁴	0.006	(0.006)	—⁴	(0.006)	1.00	0.64	0.41	0.28	0.63	398	—
12-31-2016⁷	1.00	0.001	—⁴	0.001	(0.001)	—	(0.001)	1.00	0.11⁵	0.43⁶	0.34⁶	0.16⁶	394	—
1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-21. Unaudited. 4. Less than $0.0005 per share. 5. Not annualized. 6. Annualized. 7. After the close of business on April 29, 2016, holders of Series NAV shares of Money Market Trust B became owners of an equal number of full and fractional Series NAV shares of Money Market Trust. These shares were first offered on 5-2-16.
Opportunistic Fixed Income Trust
Series I
06-30-2021³	13.47	0.20	(0.24)	(0.04)	—	—	—	13.43	(0.22)⁴	0.86⁵	0.83⁵	3.01⁵	32	71
12-31-2020	12.30	0.30	1.39	1.69	(0.52)	—	(0.52)	13.47	13.79	0.92⁶	0.85⁶	2.34	32	326⁷
12-31-2019	12.34	0.28	0.50	0.78	(0.82)	—	(0.82)	12.30	6.38	1.16⁶	1.12⁶	2.23	31	45
12-31-2018	12.93	0.29	(0.53)	(0.24)	(0.35)	—	(0.35)	12.34	(1.90)	0.84	0.82	2.31	32	35
12-31-2017	12.16	0.24	0.82	1.06	(0.29)	—	(0.29)	12.93	8.75	0.83	0.82	1.87	37	47
12-31-2016	11.80	0.28	0.08	0.36	—	—	—	12.16	3.05	0.81⁸	0.80⁸	2.18	40	57
Series II
06-30-2021³	13.25	0.18	(0.23)	(0.05)	—	—	—	13.20	(0.38)⁴	1.06⁵	1.03⁵	2.81⁵	59	71
12-31-2020	12.11	0.27	1.37	1.64	(0.50)	—	(0.50)	13.25	13.63	1.12⁶	1.05⁶	2.11	59	326⁷
12-31-2019	12.17	0.25	0.49	0.74	(0.80)	—	(0.80)	12.11	6.08	1.36⁶	1.32⁶	2.03	60	45
12-31-2018	12.77	0.26	(0.52)	(0.26)	(0.34)	—	(0.34)	12.17	(2.03)	1.04	1.02	2.10	62	35
12-31-2017	12.00	0.21	0.81	1.02	(0.25)	—	(0.25)	12.77	8.48	1.03	1.02	1.67	80	47
12-31-2016	11.66	0.25	0.09	0.34	—	—	—	12.00	2.92	1.01⁸	1.00⁸	1.98	81	57
Series NAV
06-30-2021³	13.41	0.20	(0.23)	(0.03)	—	—	—	13.38	(0.22)⁴	0.81⁵	0.78⁵	3.07⁵	120	71
12-31-2020	12.25	0.30	1.39	1.69	(0.53)	—	(0.53)	13.41	13.90	0.87⁶	0.80⁶	2.35	106	326⁷
12-31-2019	12.30	0.28	0.50	0.78	(0.83)	—	(0.83)	12.25	6.37	1.11⁶	1.07⁶	2.28	107	45
12-31-2018	12.88	0.27	(0.50)	(0.23)	(0.35)	—	(0.35)	12.30	(1.74)	0.79	0.77	2.11	108	35
12-31-2017	12.12	0.24	0.82	1.06	(0.30)	—	(0.30)	12.88	8.71	0.78	0.77	1.92	472	47
12-31-2016	11.75	0.28	0.09	0.37	—	—	—	12.12	3.15	0.76⁸	0.75⁸	2.22	446	57
1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-21. Unaudited. 4. Not annualized. 5. Annualized. 6. Includes interest expense of 0.01% and 0.25% for the year ended December 31, 2020 and the year ended December 31, 2019, respectively. 7. Increase in portfolio turnover rate resulted from repositioning of the portfolio during the period in accordance with investment policy changes approved by the Board of Trustees. 8. Includes reimbursement for overbilling of custody expenses in prior years of 0.02%.

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

Table of Contents

John Hancock Variable Insurance Trust

Financial highlights

Per share operating performance for a share outstanding throughout each period												Ratios and supplemental data
		Income (loss) from investment operations				Less distributions						Ratios to average net assets
Period ended	Net asset value, beginning of period ($)	Net investment income (loss) ($)¹	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)²	Expenses before reductions (%)	Expenses including reductions (%)	Net investment income (loss) (%)	Net assets, end of period (in millions)	Portfolio turnover (%)
Select Bond Trust
Series I
06-30-2021³	14.59	0.14	(0.28)	(0.14)	—	—	—	14.45	(0.96)⁴	0.65⁵	0.61⁵	2.01⁵	180	82
12-31-2020	13.79	0.34	0.91	1.25	(0.45)	—	(0.45)	14.59	9.08	0.65	0.62	2.36	179	118
12-31-2019	12.99	0.35	0.81	1.16	(0.36)	—	(0.36)	13.79	8.95	0.65	0.62	2.55	176	137
12-31-2018	13.42	0.34	(0.40)	(0.06)	(0.37)	—	(0.37)	12.99	(0.43)	0.65	0.62	2.61	173	83
12-31-2017	13.31	0.31	0.18	0.49	(0.38)	—	(0.38)	13.42	3.67	0.65	0.63	2.28	201	92
12-31-2016	13.30	0.31	0.10	0.41	(0.40)	—	(0.40)	13.31	3.06	0.65	0.64	2.23	203	73⁶
Series II
06-30-2021³	14.61	0.13	(0.29)	(0.16)	—	—	—	14.45	(1.10)⁴	0.85⁵	0.81⁵	1.81⁵	424	82
12-31-2020	13.81	0.31	0.91	1.22	(0.42)	—	(0.42)	14.61	8.86	0.85	0.82	2.18	437	118
12-31-2019	13.01	0.32	0.82	1.14	(0.34)	—	(0.34)	13.81	8.73	0.85	0.82	2.35	423	137
12-31-2018	13.44	0.32	(0.41)	(0.09)	(0.34)	—	(0.34)	13.01	(0.63)	0.85	0.82	2.42	513	83
12-31-2017	13.33	0.28	0.18	0.46	(0.35)	—	(0.35)	13.44	3.46	0.85	0.83	2.08	491	92
12-31-2016	13.32	0.28	0.10	0.38	(0.37)	—	(0.37)	13.33	2.85	0.85	0.84	2.03	506	73⁶
Series NAV
06-30-2021³	14.58	0.15	(0.29)	(0.14)	—	—	—	14.44	(0.96)⁴	0.60⁵	0.57⁵	2.05⁵	7,439	82
12-31-2020	13.78	0.35	0.90	1.25	(0.45)	—	(0.45)	14.58	9.14	0.60	0.58	2.40	7,212	118
12-31-2019	12.98	0.35	0.82	1.17	(0.37)	—	(0.37)	13.78	9.01	0.60	0.58	2.60	7,703	137
12-31-2018	13.41	0.35	(0.41)	(0.06)	(0.37)	—	(0.37)	12.98	(0.38)	0.60	0.57	2.66	7,528	83
12-31-2017	13.31	0.32	0.16	0.48	(0.38)	—	(0.38)	13.41	3.65	0.60	0.58	2.33	8,625	92
12-31-2016	13.29	0.31	0.12	0.43	(0.41)	—	(0.41)	13.31	3.19	0.60	0.59	2.28	8,433	73⁶
1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-21. Unaudited. 4. Not annualized. 5. Annualized. 6. Excludes merger activity.
Short Term Government Income Trust
Series I
06-30-2021³	12.29	0.07	(0.16)	(0.09)	—	—	—	12.20	(0.73)⁴	0.71⁵	0.70⁵	1.10⁵	32	16
12-31-2020	12.07	0.16	0.27	0.43	(0.21)	—	(0.21)	12.29	3.60	0.71	0.71	1.30	33	38
12-31-2019	11.87	0.15	0.25	0.40	(0.20)	—	(0.20)	12.07	3.39	0.71	0.71	1.25	36	54
12-31-2018	12.02	0.15	(0.05)	0.10	(0.25)	—	(0.25)	11.87	0.84	0.68	0.67	1.26	35	28
12-31-2017	12.12	0.11	(0.04)	0.07	(0.17)	—	(0.17)	12.02	0.57	0.67	0.66	0.88	38	47
12-31-2016	12.25	0.09	(0.02)	0.07	(0.20)	—	(0.20)	12.12	0.57	0.64⁶	0.64⁶	0.76	41	71
Series II
06-30-2021³	12.30	0.05	(0.15)	(0.10)	—	—	—	12.20	(0.81)⁴	0.91⁵	0.90⁵	0.89⁵	22	16
12-31-2020	12.08	0.14	0.27	0.41	(0.19)	—	(0.19)	12.30	3.39	0.91	0.91	1.10	29	38
12-31-2019	11.88	0.13	0.25	0.38	(0.18)	—	(0.18)	12.08	3.18	0.91	0.91	1.05	23	54
12-31-2018	12.02	0.13	(0.05)	0.08	(0.22)	—	(0.22)	11.88	0.64	0.88	0.87	1.05	26	28
12-31-2017	12.13	0.08	(0.04)	0.04	(0.15)	—	(0.15)	12.02	0.37	0.87	0.86	0.68	28	47
12-31-2016	12.25	0.07	(0.01)	0.06	(0.18)	—	(0.18)	12.13	0.45	0.84⁶	0.84⁶	0.56	33	71
Series NAV
06-30-2021³	12.29	0.07	(0.16)	(0.09)	—	—	—	12.20	(0.73)⁴	0.66⁵	0.65⁵	1.15⁵	130	16
12-31-2020	12.07	0.17	0.27	0.44	(0.22)	—	(0.22)	12.29	3.65	0.66	0.66	1.35	131	38
12-31-2019	11.87	0.16	0.25	0.41	(0.21)	—	(0.21)	12.07	3.44	0.66	0.66	1.30	120	54
12-31-2018	12.02	0.15	(0.05)	0.10	(0.25)	—	(0.25)	11.87	0.89	0.63	0.62	1.28	115	28
12-31-2017	12.12	0.11	(0.03)	0.08	(0.18)	—	(0.18)	12.02	0.62	0.62	0.61	0.93	237	47
12-31-2016	12.25	0.10	(0.02)	0.08	(0.21)	—	(0.21)	12.12	0.62	0.59⁶	0.59⁶	0.81	251	71
1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-21. Unaudited. 4. Not annualized. 5. Annualized. 6. Includes reimbursement for overbilling of custody expenses in prior years of 0.02%.

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

Table of Contents

John Hancock Variable Insurance Trust

Financial highlights

Per share operating performance for a share outstanding throughout each period												Ratios and supplemental data
		Income (loss) from investment operations				Less distributions						Ratios to average net assets
Period ended	Net asset value, beginning of period ($)	Net investment income (loss) ($)¹	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)²	Expenses before reductions (%)	Expenses including reductions (%)	Net investment income (loss) (%)	Net assets, end of period (in millions)	Portfolio turnover (%)
Strategic Income Opportunities Trust
Series I
06-30-2021³	14.44	0.19	—	0.19	—	—	—	14.63	1.39⁴	0.76⁵	0.75⁵	2.61⁵	322	45
12-31-2020	13.52	0.35	0.80	1.15	(0.23)	—	(0.23)	14.44	8.59	0.76	0.76	2.54	333	73
12-31-2019	12.53	0.40	0.96	1.36	(0.37)	—	(0.37)	13.52	10.91	0.76	0.76	3.03	361	95
12-31-2018	13.72	0.49	(1.17)	(0.68)	(0.51)	—	(0.51)	12.53	(5.03)	0.74	0.73	3.63	371	61
12-31-2017	13.41	0.46	0.29	0.75	(0.44)	—	(0.44)	13.72	5.59	0.73	0.73	3.36	477	40
12-31-2016	13.07	0.40	0.27	0.67	(0.33)	—	(0.33)	13.41	5.12	0.72⁶	0.71⁶	2.95	473	42
Series II
06-30-2021³	14.47	0.17	0.02	0.19	—	—	—	14.66	1.24⁴	0.96⁵	0.95⁵	2.42⁵	43	45
12-31-2020	13.56	0.32	0.80	1.12	(0.21)	—	(0.21)	14.47	8.36	0.96	0.96	2.34	38	73
12-31-2019	12.56	0.38	0.97	1.35	(0.35)	—	(0.35)	13.56	10.75	0.96	0.96	2.83	36	95
12-31-2018	13.76	0.46	(1.18)	(0.72)	(0.48)	—	(0.48)	12.56	(5.29)	0.94	0.93	3.43	36	61
12-31-2017	13.45	0.44	0.28	0.72	(0.41)	—	(0.41)	13.76	5.37	0.93	0.93	3.16	45	40
12-31-2016	13.10	0.37	0.28	0.65	(0.30)	—	(0.30)	13.45	4.98	0.92⁶	0.91⁶	2.74	46	42
Series NAV
06-30-2021³	14.39	0.19	0.01	0.20	—	—	—	14.59	1.39⁴	0.71⁵	0.70⁵	2.67⁵	92	45
12-31-2020	13.48	0.35	0.80	1.15	(0.24)	—	(0.24)	14.39	8.60	0.71	0.71	2.59	87	73
12-31-2019	12.49	0.41	0.96	1.37	(0.38)	—	(0.38)	13.48	11.00	0.71	0.71	3.08	80	95
12-31-2018	13.68	0.49	(1.16)	(0.67)	(0.52)	—	(0.52)	12.49	(5.00)	0.69	0.68	3.68	79	61
12-31-2017	13.37	0.47	0.28	0.75	(0.44)	—	(0.44)	13.68	5.66	0.68	0.68	3.42	96	40
12-31-2016	13.03	0.40	0.27	0.67	(0.33)	—	(0.33)	13.37	5.19	0.67⁶	0.66⁶	2.98	66	42
1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-21. Unaudited. 4. Not annualized. 5. Annualized. 6. Includes reimbursement for overbilling of custody expenses in prior years of 0.02%.
Total Bond Market Trust
Series I
06-30-2021³	10.89	0.09	(0.29)	(0.20)	—	—	—	10.69	(1.84)⁴	0.57⁵	0.30⁵	1.62⁵	355	17
12-31-2020	10.39	0.21	0.54	0.75	(0.25)	—	(0.25)	10.89	7.23	0.57	0.30	1.93	389	40
12-31-2019	9.82	0.26	0.55	0.81	(0.24)	—	(0.24)	10.39	8.24	0.57	0.30	2.49	311	36
12-31-2018	10.11	0.25	(0.27)	(0.02)	(0.27)	—	(0.27)	9.82	(0.19)	0.57	0.30	2.57	256	22
12-31-2017	10.08	0.24	0.08	0.32	(0.29)	—	(0.29)	10.11	3.18	0.57	0.30	2.39	247	46
12-31-2016	10.11	0.25	(0.01)	0.24	(0.27)	—	(0.27)	10.08	2.39	0.56	0.30	2.38	227	58
Series II
06-30-2021³	10.91	0.08	(0.29)	(0.21)	—	—	—	10.70	(1.92)⁴	0.77⁵	0.50⁵	1.42⁵	67	17
12-31-2020	10.40	0.19	0.55	0.74	(0.23)	—	(0.23)	10.91	7.11	0.77	0.50	1.73	81	40
12-31-2019	9.83	0.24	0.55	0.79	(0.22)	—	(0.22)	10.40	8.02	0.77	0.50	2.29	57	36
12-31-2018	10.13	0.23	(0.28)	(0.05)	(0.25)	—	(0.25)	9.83	(0.49)	0.77	0.50	2.37	57	22
12-31-2017	10.09	0.23	0.08	0.31	(0.27)	—	(0.27)	10.13	3.08	0.77	0.50	2.19	61	46
12-31-2016	10.12	0.23	(0.01)	0.22	(0.25)	—	(0.25)	10.09	2.19	0.76	0.50	2.18	73	58
Series NAV
06-30-2021³	10.89	0.09	(0.29)	(0.20)	—	—	—	10.69	(1.84)⁴	0.52⁵	0.25⁵	1.67⁵	323	17
12-31-2020	10.38	0.22	0.54	0.76	(0.25)	—	(0.25)	10.89	7.39	0.52	0.25	1.99	329	40
12-31-2019	9.81	0.26	0.55	0.81	(0.24)	—	(0.24)	10.38	8.30	0.52	0.25	2.54	271	36
12-31-2018	10.11	0.26	(0.29)	(0.03)	(0.27)	—	(0.27)	9.81	(0.24)	0.52	0.25	2.62	252	22
12-31-2017	10.07	0.26	0.08	0.34	(0.30)	—	(0.30)	10.11	3.34	0.52	0.25	2.45	264	46
12-31-2016	10.10	0.25	—⁶	0.25	(0.28)	—	(0.28)	10.07	2.45	0.51	0.25	2.43	280	58
1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-21. Unaudited. 4. Not annualized. 5. Annualized. 6. Less than $0.005 per share.

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

Table of Contents

John Hancock Variable Insurance Trust

Financial highlights

Per share operating performance for a share outstanding throughout each period												Ratios and supplemental data
		Income (loss) from investment operations				Less distributions						Ratios to average net assets
Period ended	Net asset value, beginning of period ($)	Net investment income (loss) ($)¹	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)²	Expenses before reductions (%)	Expenses including reductions (%)	Net investment income (loss) (%)	Net assets, end of period (in millions)	Portfolio turnover (%)
Ultra Short Term Bond Trust
Series I
06-30-2021³	11.46	0.03	(0.03)	—	—	—	—	11.46	0.00⁴	0.66⁵	0.59⁵	0.54⁵	13	26
12-31-2020	11.51	0.14	0.03	0.17	(0.22)	—	(0.22)	11.46	1.47	0.67	0.60	1.21	15	71
12-31-2019	11.37	0.23	0.12	0.35	(0.21)	—	(0.21)	11.51	3.12	0.67	0.62	2.02	12	64
12-31-2018	11.41	0.16	—⁶	0.16	(0.20)	—	(0.20)	11.37	1.40	0.68	0.65	1.42	12	59
12-31-2017	11.52	0.09	(0.01)	0.08	(0.19)	—	(0.19)	11.41	0.66	0.66	0.65	0.82	11	53
12-31-2016	11.64	0.05	0.01	0.06	(0.18)	—	(0.18)	11.52	0.52	0.65	0.64	0.43	12	86
Series II
06-30-2021³	11.46	0.02	(0.03)	(0.01)	—	—	—	11.45	(0.09)⁴	0.86⁵	0.79⁵	0.34⁵	237	26
12-31-2020	11.51	0.12	0.03	0.15	(0.20)	—	(0.20)	11.46	1.28	0.87	0.80	1.02	255	71
12-31-2019	11.37	0.21	0.12	0.33	(0.19)	—	(0.19)	11.51	2.91	0.87	0.82	1.82	234	64
12-31-2018	11.41	0.14	—⁶	0.14	(0.18)	—	(0.18)	11.37	1.19	0.88	0.85	1.21	193	59
12-31-2017	11.52	0.07	(0.02)	0.05	(0.16)	—	(0.16)	11.41	0.46	0.86	0.85	0.62	205	53
12-31-2016	11.64	0.03	0.01	0.04	(0.16)	—	(0.16)	11.52	0.32	0.85	0.84	0.23	268	86
Series NAV
06-30-2021³	11.47	0.03	(0.03)	—	—	—	—	11.47	0.00⁴	0.61⁵	0.54⁵	0.59⁵	37	26
12-31-2020	11.51	0.15	0.04	0.19	(0.23)	—	(0.23)	11.47	1.61	0.62	0.55	1.27	34	71
12-31-2019	11.38	0.24	0.11	0.35	(0.22)	—	(0.22)	11.51	3.08	0.62	0.57	2.07	31	64
12-31-2018	11.41	0.17	—⁶	0.17	(0.20)	—	(0.20)	11.38	1.53	0.63	0.60	1.46	31	59
12-31-2017	11.53	0.10	(0.03)	0.07	(0.19)	—	(0.19)	11.41	0.62	0.61	0.60	0.89	29	53
12-31-2016	11.64	0.06	0.02	0.08	(0.19)	—	(0.19)	11.53	0.66	0.60	0.59	0.48	17	86
1. Based on average daily shares outstanding. 2. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 3. Six months ended 6-30-21. Unaudited. 4. Not annualized. 5. Annualized. 6. Less than $0.005 per share.

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

Table of Contents

John Hancock Variable Insurance Trust

Notes to financial statements (unaudited)

1. Organization

The portfolios may offer multiple classes of shares: Series I, Series II, and Series NAV. The shares currently offered by each portfolio are shown on the Statements of assets and liabilities. Shares of the portfolios are presently offered only to certain affiliates of John Hancock Variable Trust Advisers LLC (the Advisor) and Manulife Financial Corporation except in the case of the Core Bond Trust, Select Bond Trust and Strategic Income Opportunities Trust. Series II and Series NAV of Core Bond Trust, Series II of Select Bond Trust and Series II and Series NAV of Strategic Income Opportunities Trust are also offered to variable insurance products of external insurance companies. Shareholders of each class have exclusive voting rights to matters that affect that class. The distribution and service fees, if any, for each class may differ.

2. Significant accounting policies

In order to value the securities, the portfolios use the following valuation techniques: Debt obligations typically are valued based on evaluated prices provided by an independent pricing vendor. 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. Equity securities, including exchange-traded or closed-end funds, are typically valued at the last sale price or official closing price on the exchange or principal market where the security trades. In the event there were no sales during the day or closing prices are not available, the securities are valued using the last available bid price. Investments in open-end mutual funds, including John Hancock Collateral Trust (JHCT), are valued at their respective NAVs each business day. Exchange-traded options are valued at the mid-price of the last quoted bid and ask prices from the exchange where the option trades. Unlisted options are generally valued using evaluated prices obtained from an independent pricing vendor. Futures contracts whose settlement prices are determined as of the close of the NYSE are typically valued based on the settlement price while other futures contracts are typically valued at the last traded price on the exchange on which they trade. Foreign equity index futures that trade in the electronic trading market subsequent to the close of regular trading may be valued at the last traded price in the electronic trading market as of 4:00 P.M. ET, or may be fair valued based on fair value adjustment factors provided by an independent pricing vendor in order to adjust for events that may occur between the close of foreign exchanges or markets and the close of the NYSE. Swaps are valued using evaluated prices obtained from an independent pricing vendor. Forward foreign currency contracts are valued at the prevailing forward rates which are based on foreign currency exchange spot rates and forward points supplied by an independent pricing vendor. Foreign securities and currencies are valued in U.S. dollars based on foreign currency exchange rates supplied by an independent pricing vendor.

Securities held by Money Market Trust are valued at amortized cost, in accordance with Rule 2a-7 under the 1940 Act, which approximates market value. The amortized cost method involves valuing a security at its cost on the date of purchase and thereafter assuming a constant amortization to maturity of the difference between the principal amount due at maturity and the cost of the security to the portfolio. The portfolio seeks to maintain a constant NAV per share of $1.00, but there can be no assurance that it will be able to do so.

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, including registered investment companies. Level 2 includes securities valued using other significant observable inputs. Observable inputs may include quoted prices for similar securities, interest rates, prepayment speeds and credit risk. Prices for securities valued using these inputs are received from independent pricing vendors and brokers and are based on an evaluation of the inputs described. Level 3 includes securities valued using significant unobservable inputs when market prices are not readily available or reliable, including the portfolios' own assumptions in determining the fair value of investments. Factors used in determining value may include market or

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issuer specific events or trends, changes in interest rates and credit quality. The inputs or methodology used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. Changes in valuation techniques and related inputs may result in transfers into or out of an assigned level within the disclosure hierarchy.

The following is a summary of the values by input classification of the portfolios' investments as of June 30, 2021, by major security category or type:

	Total value at 6-30-21	Level 1 quoted price	Level 2 significant observable inputs	Level 3 significant unobservable inputs
Active Bond Trust
Investments in securities:
Assets
U.S. Government and Agency obligations	$235,437,464	—	$235,437,464	—
Foreign government obligations	4,843,415	—	4,843,415	—
Corporate bonds	356,011,730	—	356,011,730	—
Capital preferred securities	1,464,863	—	1,464,863	—
Municipal bonds	4,789,908	—	4,789,908	—
Term loans	303,933	—	303,933	—
Collateralized mortgage obligations	55,440,134	—	55,440,134	—
Asset backed securities	45,981,864	—	45,981,864	—
Common stocks	467,448	$467,448	—	—
Preferred securities	1,520,178	1,314,090	206,088	—
Warrants	23,793	23,793	—	—
Short-term investments	101,433,211	91,745,211	9,688,000	—
Total investments in securities	$807,717,941	$93,550,542	$714,167,399	—
Level 3 includes securities valued at $0. Refer to Portfolio of Investments.

Core Bond Trust
Investments in securities:
Assets
U.S. Government and Agency obligations	$621,504,169	—	$621,504,169	—
Foreign government obligations	12,823,559	—	12,823,559	—
Corporate bonds	290,784,314	—	290,784,314	—
Municipal bonds	3,999,553	—	3,999,553	—
Collateralized mortgage obligations	81,504,704	—	81,504,704	—
Asset backed securities	86,099,188	—	86,099,188	—
Short-term investments	22,107,618	$22,107,618	—	—
Total investments in securities	$1,118,823,105	$22,107,618	$1,096,715,487	—

High Yield Trust
Investments in securities:
Assets
Foreign government obligations	$1,300,471	—	$1,300,471	—
Corporate bonds	168,366,350	—	168,366,350	—
Convertible bonds	2,852,041	—	2,852,041	—
Term loans	16,698,020	—	16,256,324	$441,696
Asset backed securities	10,222,580	—	10,222,580	—
Common stocks	1,879,021	$1,852,285	—	26,736
Preferred securities	2,108,813	1,052,537	505,368	550,908
Short-term investments	9,802,090	9,802,090	—	—
Total investments in securities	$213,229,386	$12,706,912	$199,503,134	$1,019,340
Derivatives:
Assets
Forward foreign currency contracts	$3,780	—	$3,780	—
Swap contracts	22,991	—	22,991	—
Liabilities
Futures	(13,216)	$(13,216)	—	—
Forward foreign currency contracts	(2,850)	—	(2,850)	—
Swap contracts	(31,419)	—	(31,419)	—

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	Total value at 6-30-21	Level 1 quoted price	Level 2 significant observable inputs	Level 3 significant unobservable inputs
High Yield Trust (continued)
Level 3 includes securities valued at $0. Refer to Portfolio of Investments.

Investment Quality Bond Trust
Investments in securities:
Assets
U.S. Government and Agency obligations	$182,659,158	—	$182,659,158	—
Foreign government obligations	14,751,983	—	14,751,983	—
Corporate bonds	86,433,692	—	86,433,692	—
Municipal bonds	6,176,250	—	6,176,250	—
Term loans	8,979,792	—	8,979,792	—
Collateralized mortgage obligations	42,250,680	—	42,250,680	—
Asset backed securities	23,663,164	—	23,663,164	—
Common stocks	8,039	—	8,039	—
Purchased options	91,675	—	91,675	—
Short-term investments	6,311,242	$611,242	5,700,000	—
Total investments in securities	$371,325,675	$611,242	$370,714,433	—
Derivatives:
Assets
Futures	$57,522	$57,522	—	—
Forward foreign currency contracts	177,309	—	$177,309	—
Swap contracts	959,210	—	959,210	—
Liabilities
Futures	(746,127)	(746,127)	—	—
Forward foreign currency contracts	(10,053)	—	(10,053)	—
Written options	(96,399)	—	(96,399)	—
Swap contracts	(1,107,744)	—	(1,107,744)	—

Money Market Trust
Investments in securities:
Assets
U.S. Government	$573,915,610	—	$573,915,610	—
U.S. Government Agency	1,537,936,778	—	1,537,936,778	—
Repurchase agreement	16,900,000	—	16,900,000	—
Total investments in securities	$2,128,752,388	—	$2,128,752,388	—

Opportunistic Fixed Income Trust
Investments in securities:
Assets
U.S. Government and Agency obligations	$832,974	—	$832,974	—
Foreign government obligations	89,564,740	—	89,564,740	—
Corporate bonds	41,979,685	—	41,979,685	—
Convertible bonds	3,420,994	—	3,420,994	—
Municipal bonds	7,151,642	—	7,151,642	—
Term loans	18,141,959	—	18,141,959	—
Collateralized mortgage obligations	18,402,591	—	18,402,591	—
Asset backed securities	8,851,410	—	8,851,410	—
Preferred securities	41,852	$36,547	5,305	—
Exchange-traded funds	10,788,892	10,788,892	—	—
Short-term investments	8,342,089	8,342,089	—	—
Total investments in securities	$207,518,828	$19,167,528	$188,351,300	—
Derivatives:
Assets
Futures	$302,219	$302,219	—	—

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	Total value at 6-30-21	Level 1 quoted price	Level 2 significant observable inputs	Level 3 significant unobservable inputs
Opportunistic Fixed Income Trust (continued)
Forward foreign currency contracts	$703,152	—	$703,152	—
Swap contracts	1,908,721	—	1,908,721	—
Liabilities
Futures	(369,567)	$(369,567)	—	—
Forward foreign currency contracts	(615,061)	—	(615,061)	—
Swap contracts	(2,466,967)	—	(2,466,967)	—

Select Bond Trust
Investments in securities:
Assets
U.S. Government and Agency obligations	$2,553,732,974	—	$2,553,732,974	—
Foreign government obligations	41,128,083	—	41,128,083	—
Corporate bonds	3,252,828,202	—	3,252,828,202	—
Municipal bonds	124,037,528	—	124,037,528	—
Collateralized mortgage obligations	640,938,063	—	640,938,063	—
Asset backed securities	1,311,986,683	—	1,311,986,683	—
Common stocks	1,254,418	$1,254,418	—	—
Preferred securities	7,647,023	7,647,023	—	—
Short-term investments	380,120,808	13,419,808	366,701,000	—
Total investments in securities	$8,313,673,782	$22,321,249	$8,291,352,533	—

Short Term Government Income Trust
Investments in securities:
Assets
U.S. Government and Agency obligations	$170,825,193	—	$170,825,193	—
Municipal bonds	8,414,967	—	8,414,967	—
Collateralized mortgage obligations	2,329,092	—	2,329,092	—
Short-term investments	1,666,000	—	1,666,000	—
Total investments in securities	$183,235,252	—	$183,235,252	—

Strategic Income Opportunities Trust
Investments in securities:
Assets
U.S. Government and Agency obligations	$22,043,804	—	$22,043,804	—
Foreign government obligations	90,520,521	—	90,520,521	—
Corporate bonds	266,916,796	—	266,916,796	—
Convertible bonds	14,331,978	—	14,331,978	—
Capital preferred securities	1,307,790	—	1,307,790	—
Term loans	13,434,396	—	13,434,396	—
Collateralized mortgage obligations	2,895,842	—	2,895,842	—
Asset backed securities	6,660,552	—	6,660,552	—
Common stocks	14,527,110	$12,709,275	1,817,835	—
Preferred securities	14,859,803	14,261,265	598,538	—
Purchased options	52,389	—	52,389	—
Short-term investments	15,834,435	3,420,435	12,414,000	—
Total investments in securities	$463,385,416	$30,390,975	$432,994,441	—
Derivatives:
Assets
Futures	$29,621	$29,621	—	—
Forward foreign currency contracts	460,733	—	$460,733	—
Liabilities
Futures	(2,163,514)	(2,163,514)	—	—
Forward foreign currency contracts	(298,890)	—	(298,890)	—

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	Total value at 6-30-21	Level 1 quoted price	Level 2 significant observable inputs	Level 3 significant unobservable inputs
Strategic Income Opportunities Trust (continued)
Written options	$(116,728)	—	$(116,728)	—
Level 3 includes securities valued at $0. Refer to Portfolio of Investments.

Total Bond Market Trust
Investments in securities:
Assets
U.S. Government and Agency obligations	$480,887,606	—	$480,887,606	—
Foreign government obligations	7,724,275	—	7,724,275	—
Corporate bonds	214,977,993	—	214,977,993	—
Municipal bonds	4,874,874	—	4,874,874	—
Collateralized mortgage obligations	18,082,379	—	18,082,379	—
Common stocks	940	$940	—	—
Warrants	2,379	2,379	—	—
Short-term investments	84,552,915	84,552,915	—	—
Total investments in securities	$811,103,361	$84,556,234	$726,547,127	—

Ultra Short Term Bond Trust
Investments in securities:
Assets
U.S. Government and Agency obligations	$2,853,041	—	$2,853,041	—
Corporate bonds	148,289,431	—	148,289,431	—
Municipal bonds	2,025,452	—	2,025,452	—
Collateralized mortgage obligations	3,017,838	—	3,017,838	—
Asset backed securities	33,041,830	—	33,041,830	—
Short-term investments	95,361,802	$8,816,874	86,544,928	—
Total investments in securities	$284,589,394	$8,816,874	$275,772,520	—

Repurchase agreements. The portfolios may enter into repurchase agreements. When the portfolios enter into a repurchase agreement, they receive collateral that is held in a segregated account by the portfolios' 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 the portfolio for repurchase agreements is disclosed in the Portfolios of investments as part of the caption related to the repurchase agreement.

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 or in a schedule to the portfolio (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 its NAV. 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 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 changes in the value of the securities purchased or sold prior to settlement date. As a result, the portfolios have paid (received) cash collateral to (from) certain counterparties to these transactions, which is recorded as Cash collateral at broker for sale commitments (Payable for collateral on sale commitments), as follows:

Portfolios	Counterparty	Collateral Paid/ (Received)
Core Bond Trust	Goldman Sachs	$(30,000)

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among individual loans. During periods of infrequent trading, valuing a term loan can be more difficult and buying and selling a term loan at an acceptable price can be more difficult and delayed, which could result in a loss.

At June 30, 2021, High Yield Trust and Opportunistic Fixed Income Trust had $321,718 and $17,751, respectively, in unfunded loan commitments outstanding.

Inflation-indexed bonds. Inflation-indexed bonds are securities that generally have a lower coupon interest rate fixed at issuance but whose principal value is periodically adjusted 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. If these decreases are in excess of income previously recorded, an adjustment to the cost of the security is made.

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 portfolios may fail to fully recover its initial investment in an IO security. The market value of these securities can be extremely volatile in response to changes in interest rates or prepayments on the underlying securities. In addition, these securities present additional credit risk such that the portfolios may not receive all or part of its principal or interest payments because the borrower or issuer has defaulted on its obligation.

Mortgage and asset backed securities. The portfolios may invest in mortgage-related securities, such as mortgage-backed securities, and other asset-backed securities, which are debt obligations that represent interests in pools of mortgages or other income-bearing assets, such as consumer loans or receivables. Such securities often involve risks that are different from the risks associated with investing in other types of debt securities. Mortgage-backed and other asset-backed securities are subject to changes in the payment patterns of borrowers of the underlying debt. When interest rates fall, borrowers are more likely to refinance or prepay their debt before its stated maturity. This may result in the portfolios having to reinvest the proceeds in lower yielding securities, effectively reducing the portfolios' income. Conversely, if interest rates rise and borrowers repay their debt more slowly than expected, the time in which the mortgage-backed and other asset-backed securities are paid off could be extended, reducing the portfolios' cash available for reinvestment in higher yielding securities. The timely payment of principal and interest of certain mortgage-related securities is guaranteed with the full faith and credit of the U.S. Government. Pools created and guaranteed by non-governmental issuers, including government-sponsored corporations (e.g. FNMA), may be supported by various forms of insurance or guarantees, but there can be no assurance that private insurers or guarantors can meet their obligations under the insurance policies or guarantee arrangements. The portfolios are also subject to risks associated with securities with contractual cash flows including asset-backed and mortgage related securities such as collateralized mortgage obligations, mortgage pass-through securities and commercial mortgage-backed securities. The value, liquidity and related income of these securities are sensitive to changes in economic conditions, including real estate value, pre-payments, delinquencies and/or defaults, and may be adversely affected by shifts in the market’s perception of the issuers and changes in interest rates.

Payment-in-kind bonds. The portfolios may invest in payment-in-kind bonds (PIK Bonds). PIK Bonds allow the issuer, at its option, to make current interest payments on the bonds either in cash or in additional bonds. The market prices of PIK Bonds are affected to a greater extent by interest rate changes and thereby tend to be more volatile than securities which pay cash interest periodically. Income on these securities is computed at the contractual rate specified and is added to the principal balance of the bond. This income is required to be distributed to shareholders. Because no cash is received at the time income accrues on these securities, the portfolios may need to sell other investments to make distributions.

Security transactions and related investment income. Investment security transactions are accounted for on a trade date plus one basis for daily NAV calculations. However, for financial reporting purposes, investment transactions are reported on trade date. Interest income is accrued as earned. Interest income includes coupon interest and amortization/accretion of premiums/discounts on debt securities. Debt obligations may be placed in a non-accrual status and related interest income may be reduced by stopping current accruals and writing off interest receivable when the collection of all or a portion of interest has become doubtful. Dividend income is recorded on ex-date, except for dividends of certain foreign securities where the dividend may not be known until after the ex-date. In those cases, dividend income, net of withholding taxes, is recorded when the portfolio becomes aware of the dividends. Non-cash dividends, if any, are recorded at the fair market value of the securities received. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds from litigation.

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compensation from fees earned from borrowers of the securities. Securities lending income received by the portfolios is net of fees retained by the securities lending agent. Net income received from JHCT is a component of securities lending income as recorded on the Statements of operations.

Portfolio	Market value of securities on loan	Cash collateral received	Non-cash collateral
Active Bond Trust	$3,321,238	$3,400,955	—
Core Bond Trust	1,607,286	1,645,625	—
High Yield Trust	3,369,747	3,456,328	—
Investment Quality Bond Trust	560,534	609,048	—
Select Bond Trust	13,119,110	13,385,881	—
Strategic Income Opportunities Trust	3,348,590	3,421,310	—
Total Bond Market Trust	3,847,934	3,950,812	—

Line of credit. The portfolios and other affiliated funds, excluding Core Bond Trust, have entered into a syndicated line of credit agreement with Citibank, N.A. as the administrative agent that enables them to participate in a $1 billion unsecured committed line of credit. Excluding commitments designated for a certain fund and subject to the needs of all other affiliated funds, a portfolio can borrow up to an aggregate commitment amount of $750 million, subject to asset coverage and other limitations as specified in the agreement. Prior to June 24, 2021, a portfolio could borrow up to an aggregate commitment amount of $850 million.

Core Bond Trust and other affiliated funds have entered into an unsecured $50 million line of credit agreement with BNP Paribas. Subject to the needs of other affiliated funds, Core Bond Trust can borrow up to the $50 million, subject to asset coverage and other limitations as specified in the agreement.

Commitment fees for the six months ended June 30, 2021 were as follows:

Portfolio	Commitment fee
Active Bond Trust	$4,786
Core Bond Trust	5,812
High Yield Trust	3,379
Investment Quality Bond Trust	3,561
Money Market Trust	8,878
Opportunistic Fixed Income Trust	3,384

Portfolio	Commitment fee
Select Bond Trust	$23,635
Short Term Government Income Trust	3,365
Strategic Income Opportunities Trust	4,064
Total Bond Market Trust	4,875
Ultra Short Term Bond Trust	3,672

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Federal income taxes. Each portfolio intends to continue to qualify as a regulated investment company by complying with the applicable provisions of the Internal Revenue Code and will not be subject to federal income tax on taxable income that is distributed to shareholders. Therefore, no federal income tax provision is required.

	No Expiration Date
Portfolio	Short Term	Long Term
High Yield Trust	$2,459,230	$61,556,259
Short Term Government Income Trust	3,473,689	21,310,457
Strategic Income Opportunities Trust	9,319,694	182,038
Total Bond Market Trust	—	3,335,099
Ultra Short Term Bond Trust	6,280,453	14,388,831

For federal income tax purposes, the costs of investments owned on June 30, 2021, including short-term investments, were as follows:

Portfolio	Aggregate cost	Unrealized appreciation	Unrealized (depreciation)	Net unrealized appreciation/ (depreciation)
Active Bond Trust	$778,006,191	$38,564,274	$(8,852,524)	$29,711,750
Core Bond Trust	1,114,681,719	11,220,397	(7,079,011)	4,141,386
High Yield Trust	218,132,327	10,895,906	(15,819,561)	(4,923,655)
Investment Quality Bond Trust	364,923,513	9,634,058	(3,998,178)	5,635,880
Money Market Trust	2,128,752,388	—	—	—
Opportunistic Fixed Income Trust	210,683,606	4,959,199	(8,661,480)	(3,702,281)
Select Bond Trust	8,125,814,324	255,003,768	(67,144,310)	187,859,458
Short Term Government Income Trust	182,489,759	2,959,538	(2,214,045)	745,493
Strategic Income Opportunities Trust	453,827,452	14,575,294	(7,106,108)	7,469,186
Total Bond Market Trust	778,345,962	40,260,587	(7,503,188)	32,757,399
Ultra Short Term Bond Trust	285,483,857	701,617	(1,596,080)	(894,463)

Distribution of income and gains. Distributions to shareholders from net investment income and net realized gains, if any, are recorded on the ex-date. The portfolios generally declare and pay dividends from net investment income, if any, at least annually with the exception of Money Market Trust, which declares dividends daily and pays monthly from net investment income, if any. Capital gain distributions, if any, are typically distributed annually.

Capital accounts within the financial statements are adjusted for permanent book-tax differences. These adjustments have no impact on net assets or the results of operations. Temporary book-tax differences, if any, will reverse in a subsequent period. Book-tax differences are primarily attributable to straddle loss deferrals, foreign currency transactions, derivative transactions, amortization and accretion on debt securities, wash sale loss deferrals and contingent payment debt instruments.

3. Derivative instruments

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for the benefit of the portfolios and can be in the form of cash or debt securities issued by the U.S. government or related agencies; collateral posted by the portfolios, if any, for OTC transactions is held in a segregated account at the portfolios' custodian and is noted in the accompanying portfolio of investments, or if cash is posted, on the Statements of assets and liabilities. The portfolios' risk of loss due to counterparty risk is equal to the asset value of outstanding contracts offset by collateral received.

Centrally-cleared swap contracts are subject to clearinghouse rules, including initial and variation margin requirements, daily settlement of obligations and the clearinghouse guarantee of payments to the broker. There is, however, still counterparty risk due to the potential insolvency of the broker with respect to any margin held in the brokers’ customer accounts. While clearing members are required to segregate customer assets from their own assets, in the event of insolvency, there may be a shortfall in the amount of margin held by the broker for its clients. Collateral or margin requirements for centrally-cleared derivatives are set by the broker or applicable clearinghouse. Margin for centrally-cleared transactions is detailed in the Statements of assets and liabilities as Receivable/Payable for centrally-cleared swaps. Securities pledged by the portfolios for centrally-cleared transactions, if any, are identified in the Portfolio of investments.

Portfolio	Reason	USD Notional range
High Yield Trust	To manage against changes in interest rates, gain exposure to certain bond markets and manage duration of the portfolio.	From $10.0 million to $10.2 million
Investment Quality Bond Trust	To manage against changes in interest rates, gain exposure to certain bond markets and manage duration of the portfolio.	From $43.8 million to $84.9 million
Opportunistic Fixed Income Trust	To manage against changes in interest rates, gain exposure to certain bond markets and manage duration of the portfolio.	From $66.9 million to $84.8 million
Strategic Income Opportunities Trust	To manage duration of the portfolio.	From $51.3 million to $97.4 million

Portfolio	Reason	USD Notional range
High Yield Trust	To manage against changes in foreign currency exchange rates and to gain exposure to foreign currencies.	From $1.1 million to $1.2 million
Investment Quality Bond Trust	To manage against changes in foreign currency exchange rates and to gain exposure to foreign currencies.	From $5.5 million to $9.1 million
Opportunistic Fixed Income Trust	To manage against changes in foreign currency exchange rates and to gain exposure to foreign currencies.	From $163.3 million to $173.8 million
Strategic Income Opportunities Trust	To manage against changes in foreign currency exchange rates and to gain exposure to foreign currencies.	From $71.1 million to $526.3 million

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Derivative instruments, continued

exchange and movements in underlying security values, and for written options, potential losses in excess of the amounts recognized on the Statements of assets and liabilities. In addition, OTC options are subject to the risks of all OTC derivatives contracts.

The following table details how the portfolios used purchased options contracts during the six months ended June 30, 2021. In addition, the table summarizes the range of market value amounts held by the portfolios, as measured at each quarter end:

Portfolio	Reason	Market value range
Investment Quality Bond Trust	To gain exposure to the bond market and foreign currency, manage against anticipated currency exchange rates and interest rate changes, and manage duration of the portfolio.	Up to $372,000
Opportunistic Fixed Income Trust	To gain exposure to the bond market and foreign currency, manage against anticipated currency exchange rates and interest rate changes, manage duration of the portfolio. At June 30, 2021, there were no open purchased options contracts.	Up to $43,000
Strategic Income Opportunities Trust	To manage against changes in foreign currency exchange rates.	From $9,000 to $152,000

Portfolio	Reason	Market value range
Investment Quality Bond Trust	To gain exposure to the bond market and foreign currency, manage against anticipated currency exchange rates and interest rate changes, and manage duration of the portfolio.	Up to $224,000
Strategic Income Opportunities Trust	To manage against changes in foreign currency exchange rates.	From $110,000 to $388,000

An interest rate swaption is an option to enter into an interest rate swap. A credit default swaption is an option to enter into a credit default swap. Inflation floors (OTC) are instruments where in return for a premium, one party agrees to make payments to the other to the extent that the interest rate exceeds a specified rate (based on the Consumer Price Index or other designated measure), or “floor.” Inflation caps (OTC) are instruments where in return for a premium, one party agrees to make payments to the other to the extent that the interest rate exceeds a specified rate (based on the Consumer Price Index or other designated measure), or “cap.” An interest rate floor is an over-the-counter investment instrument designed to protect lenders of adjustable or floating-rate securities from losses due to falling interest rates. An interest rate floor seller pays a buyer when the indexed interest rate falls below the floors’ strike rate, thus hedging against losses on falling rates. Fundamentally, interest rate floors are put options placed on a floating-rate index.

Swaps. Swap agreements are agreements between the portfolio and a counterparty to exchange cash flows, assets, foreign currencies or market-linked returns at specified intervals. Swap agreements are privately negotiated in the OTC market (OTC swaps) or may be executed on a registered commodities exchange (centrally cleared swaps). Swaps are marked-to-market daily and the change in value is recorded as a component of unrealized appreciation/depreciation of swap contracts. The value of the swap will typically impose collateral posting obligations on the party that is considered out-of-the-money on the swap.

Upfront payments made/received by the portfolios, if any, are amortized/accreted for financial reporting purposes, with the unamortized/unaccreted portion included in the Statement of assets and liabilities. A termination payment by the counterparty or the portfolios is recorded as realized gain or loss, as well as the net periodic payments received or paid by the portfolios.

Entering into swap agreements involves, to varying degrees, elements of credit, market and documentation risk that may provide outcomes that produce losses 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. In addition to interest rate risk, market risks may also impact the swap. The portfolios 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 portfolio and a counterparty to exchange cash flows based on the difference between two interest rates applied to a notional amount. The payment flows are usually netted against each other, with the difference being paid by one party to the other. The portfolios settles accrued net interest receivable or payable under the swap contracts at specified, future intervals.

The following table details how the portfolios used interest rate swaps contracts during the six months ended June 30, 2021. In addition, the table summarizes the range of notional contract amounts held by the portfolios, as measured at each quarter end:

Portfolio	Reason	USD Notional range
Investment Quality Bond Trust	To manage against changes in interest rates and to manage duration of the portfolio.	From $11.2 million to $14.3 million
Opportunistic Fixed Income Trust	To manage against changes in interest rates and to manage duration of the portfolio.	From $27.7 million to $45.8 million

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 portfolios may enter into CDS in which it may act as either Buyer or Seller. By acting as the Seller, the portfolios 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.

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Derivative instruments, continued

Credit default swaps — Buyer

The following table details how the portfolios used credit default swap contracts as a buyer during the six months ended June 30, 2021. In addition, the table summarizes the range of notional contract amounts held by the portfolios, as measured at each quarter end:

Portfolio	Reason	USD Notional range
Investment Quality Bond Trust	To manage against potential credit events.	Up to $4.7 million
Opportunistic Fixed Income Trust	To manage against potential credit events.	From $48.6 million to $67.3 million

Credit default swaps — Seller

Implied credit spreads are utilized in determining the market value of CDS agreements in which the portfolio is the Seller at period end. The implied credit spread generally represents the yield of the instrument above a credit-risk free rate, such as the U.S. Treasury Bond Yield, and may include upfront payments required to be made to enter into the agreement. It also serves as an indicator of the current status of the payment/performance risk and represents the likelihood or risk of default for the credit derivative. Wider credit spreads represent a deterioration of the referenced entity’s creditworthiness and an increased risk of default or other credit event occurring as defined under the terms of the agreement.

For CDS agreements where implied credit spreads are not reported or available, the average credit rating on the underlying index is shown. A deterioration of the referenced entity’s creditworthiness would indicate a greater likelihood of a credit event occurring and result in increasing market values, in absolute terms when compared to the notional amount of the swap. The maximum potential amount of future payments (undiscounted) that the portfolio as the Seller could be required to make under any CDS agreement equals the notional amount of the agreement.

The following table details how the portfolios used credit default swap contracts as a seller during the six months ended June 30, 2021. In addition, the table summarizes the range of notional contract amounts held by the portfolios, as measured at each quarter end:

Portfolio	Reason	USD Notional range
High Yield Trust	To gain credit exposure to an issuer or index.	From $1.1 million to $1.3 million
Investment Quality Bond Trust	To gain credit exposure to an issuer or index.	From $8.0 million to $10.2 million
Opportunistic Fixed Income Trust	To gain credit exposure to an issuer or index.	From $1.4 million to $28.1 million

Total Return Swaps. The portfolios may enter into total return swap contracts to obtain synthetic exposure to a specific reference asset or index without owning, taking physical custody of, or short selling the underlying assets. Total return swaps are commitments where one party pays a fixed or variable rate premium (the Buyer) in exchange for a market-linked return (the Seller). The Seller pays the total return of a specific reference asset or index and in return receives interest payments from the Buyer. To the extent the total return of the underlying asset or index exceeds or falls short of the offsetting interest rate obligation, the Buyer will receive or make a payment to the Seller. A portfolio may enter into total return swaps in which it may act as either the Buyer or the Seller. Total return swap contracts are subject to the risk associated with the investment in the underlying reference asset or index. The risk in the case of short total return swap contracts is unlimited based on the potential for unlimited increases in the market value of the underlying reference asset or index.

The following table details how the portfolios used total return swaps during the six months ended June 30, 2021. In addition, the table summarizes the range of notional contract amounts held by the portfolios, as measured at each quarter end:

Portfolio	Reason	USD Notional range
Opportunistic Fixed Income Trust	To gain exposure to a security or market without investing directly in such security or market and to exchange the risk/return of one market with another.	From $34.5 million to $50.8 million

Fair value of derivative instruments by risk category

The table below summarizes the fair value of derivatives held by the portfolios at June 30, 2021 by risk category:

Portfolio	Risk	Statements of assets and liabilities location	Financial instruments location	Assets derivatives fair value	Liabilities derivatives fair value
High Yield Trust	Interest rate	Receivable/payable for futures variation margin¹	Futures	—	$(13,216)
	Currency	Unrealized appreciation (depreciation) on forward foreign currency contracts	Forward foreign currency contracts	$3,780	(2,850)
	Credit	Swap contracts, at value²	Credit default swaps	22,991	(31,419)
				$26,771	$(47,485)

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Derivative instruments, continued

Portfolio	Risk	Statements of assets and liabilities location	Financial instruments location	Assets derivatives fair value	Liabilities derivatives fair value
Investment Quality Bond Trust	Interest rate	Receivable/payable for futures variation margin¹	Futures	$57,522	$(746,127)
	Currency	Unrealized appreciation (depreciation) on forward foreign currency contracts	Forward foreign currency contracts	177,309	(10,053)
	Interest rate	Unaffiliated investments, at value³	Purchased options	91,675	—
	Interest rate	Written options, at value	Written options	—	(96,399)
	Credit	Swap contracts, at value²	Credit default swaps	30,302	(1,107,744)
	Interest rate	Swap contracts, at value²	Interest rate swaps	928,908	—
				$1,285,716	$(1,960,323)
Opportunistic Fixed Income Trust	Interest rate	Receivable/payable for futures variation margin¹	Futures	$302,219	$(369,567)
	Currency	Unrealized appreciation (depreciation) on forward foreign currency contracts	Forward foreign currency contracts	703,152	(615,061)
	Credit	Swap contracts, at value²	Credit default swaps	856,204	(1,294,716)
	Interest rate	Swap contracts, at value	Total return swaps	26,636	(738,567)
	Interest rate	Swap contracts, at value²	Interest rate swaps	1,025,881	(433,684)
				$2,914,092	$(3,451,595)
Strategic Income Opportunities Trust	Interest rate	Receivable/payable for futures variation margin¹	Futures	$29,621	$(2,163,514)
	Currency	Unrealized appreciation (depreciation) on forward foreign currency contracts	Forward foreign currency contracts	460,733	(298,890)
	Currency	Unaffiliated investments, at value³	Purchased options	52,389	—
	Currency	Written options, at value	Written options	—	(116,728)
				$542,743	$(2,579,132)


¹	Reflects cumulative appreciation/depreciation on open futures as disclosed in the Derivatives section of the Portfolios of investments. Only the period end variation margin receivable/payable is separately reported on the Statements of assets and liabilities.
²	Reflects cumulative value of swap contracts. Receivable/payable for centrally cleared swaps, which includes value and margin, are shown separately on the Statements of assets and liabilities.
³	Purchased options are included in the Portfolios of investments.

OTC Financial Instruments	Asset	Liability
Opportunistic Fixed Income Trust
Forward foreign currency contracts	$703,152	$(615,061)
Swap contracts	1,722,933	(2,133,503)
Totals	$2,426,085	$(2,748,564)

Opportunistic Fixed Income Trust

Counterparty	Assets	Liabilities	Total Market Value of OTC Derivatives	Collateral Posted by Counterparty¹	Collateral Posted by Portfolio¹	Net Exposure
Bank of America, N.A.	$367,143	$(102,212)	$264,931	$264,931	—	—
Barclays Bank PLC	93,994	(100,289)	(6,295)	—	$6,295	—
Citibank, N.A.	124,700	(245,839)	(121,139)	—	89,000	$(32,139)
Goldman Sachs International	91,190	(584,862)	(493,672)	—	428,000	(65,672)
JPMorgan Chase Bank, N.A.	765,600	(530,362)	235,238	235,238	—	—
Morgan Stanley & Co. International PLC	983,458	(1,173,865)	(190,407)	—	—	(190,407)
State Street Bank and Trust Company	—	(11,135)	(11,135)	—	11,135	—
Totals	$2,426,085	$(2,748,564)	$(322,479)	$500,169	$534,430	$(288,218)
¹ Reflects collateral posted by the counterparty or posted by the portfolio, excluding any excess collateral amounts.

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Derivative instruments, continued

Effect of derivative instruments on the Statements of operations

		Statements of operations location - Net realized gain (loss) on:
Portfolio	Risk	Unaffiliated investments and foreign currency transactions¹	Futures contracts	Forward foreign currency contracts	Written options	Swap contracts	Total
High Yield Trust	Interest rate	—	$(106,006)	—	—	—	$(106,006)
	Currency	—	—	$(6,366)	—	—	(6,366)
	Credit	—	—	—	—	$118,739	118,739
	Total	—	$(106,006)	$(6,366)	—	$118,739	$6,367
Investment Quality Bond Trust	Interest rate	—	$2,004,732	—	—	$(91,770)	$1,912,962
	Currency	—	—	$202,305	—	—	202,305
	Credit	—	—	—	—	197,457	197,457
	Total	—	$2,004,732	$202,305	—	$105,687	$2,312,724
Opportunistic Fixed Income Trust	Interest rate	$(117,335)	$(764,848)	—	—	$881,154	$(1,029)
	Currency	—	—	$1,310,679	—	—	1,310,679
	Credit	—	—	—	—	348,696	348,696
	Total	$(117,335)	$(764,848)	$1,310,679	—	$1,229,850	$1,658,346
Strategic Income Opportunities Trust	Interest rate	—	$3,715,540	—	—	—	$3,715,540
	Currency	$(48,816)	—	$1,050,121	$270,618	—	1,271,923
	Total	$(48,816)	$3,715,540	$1,050,121	$270,618	—	$4,987,463


¹	Realized gain/loss associated with purchased options is included in this caption on the Statements of operations.

The table below summarizes the net change in unrealized appreciation (depreciation) included in the net increase (decrease) in net assets from operations, classified by derivative instrument and risk category, for the six months ended June 30, 2021:

		Statements of operations location - Change in net unrealized appreciation (depreciation) of:
Portfolio	Risk	Unaffiliated investments and translation of assets and liabilities in foreign currencies¹	Futures contracts	Forward foreign currency contracts	Written options	Swap contracts	Total
High Yield Trust	Interest rate	—	$(38,579)	—	—	—	$(38,579)
	Currency	—	—	$(11,944)	—	—	(11,944)
	Credit	—	—	—	—	$(50,023)	(50,023)
	Total	—	$(38,579)	$(11,944)	—	$(50,023)	$(100,546)
Investment Quality Bond Trust	Interest rate	$(205,940)	$(857,309)	—	$82,721	$531,950	$(448,578)
	Currency	—	—	$227,888	—	—	227,888
	Credit	—	—	—	—	(170,843)	(170,843)
	Total	$(205,940)	$(857,309)	$227,888	$82,721	$361,107	$(391,533)
Opportunistic Fixed Income Trust	Interest rate	$74,822	$6,663	—	—	$(10,383)	$71,102
	Currency	—	—	$135,295	—	—	135,295
	Credit	—	—	—	—	(443,959)	(443,959)
	Total	$74,822	$6,663	$135,295	—	$(454,342)	$(237,562)
Strategic Income Opportunities Trust	Interest rate	—	$(2,274,444)	—	—	—	$(2,274,444)
	Currency	$(7,497)	—	$51,193	$386,582	—	430,278
	Total	$(7,497)	$(2,274,444)	$51,193	$386,582	—	$(1,844,166)


¹	Change in unrealized appreciation/depreciation associated with purchased options is included in this caption on the Statements of operations.

4. Guarantees and indemnifications

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5. Fees and transactions with affiliates

Management fee. Under an investment management agreement, the portfolios pay a daily management fee to the Advisor based on the net assets of the respective portfolio or aggregate net assets, which include the nets assets of the respective portfolio and the net assets of a similar portfolio of John Hancock Funds II (JHF II) unless otherwise noted. JHF II portfolios are advised by John Hancock Investment Management LLC, an affiliate of the Advisor, and are distributed by an affiliate of the Advisor, John Hancock Investment Management Distributors LLC. The annual rate for each portfolio is as follows:

• Active Bond Trust — a) 0.60% of the first $2.5 billion of average net assets; b) 0.575% of average net assets between $2.5 billion and $5.0 billion; and c) 0.55% of the excess over $5.0 billion of average net assets.

• Core Bond Trust — a) 0.69% of the first $200 million of aggregate net assets; b) 0.64% of the next $200 million of aggregate net assets; c) 0.570% of the next $600 million of aggregate net assets; d) 0.56% of the next $1 billion of aggregate net assets; and e) 0.55% of the excess over $2 billion of aggregate net assets.

• High Yield Trust— a) 0.70% of the first $500 million of aggregate net assets and b) 0.65% of the excess over $500 million of aggregate net assets.

• Investment Quality Bond Trust— a) 0.60% of the first $500 million of average net assets and b) 0.55% of the excess over $500 million of average net assets.

• Money Market Trust — a) 0.50% of the first $500 million of aggregate net assets; b) 0.425% of the next $250 million aggregate net assets; c) 0.375% of the next $250 million aggregate net assets; d) 0.35% of the next $500 million aggregate net assets; e) 0.325% of the next $500 million aggregate net assets; f) 0.30% of the next $500 million aggregate net assets; and g) 0.275% of the excess over $2.5 billion of aggregate net assets. Aggregate net assets include net assets of the portfolio and Money Market Fund, a series of John Hancock Current Interest.

• Opportunistic Fixed Income Trust — a) 0.65% of the first $1 billion of aggregate net assets and b) 0.625% of the excess over $1 billion of aggregate net assets.

• Select Bond Trust — a) 0.65% of the first $500 million of average net assets; b) 0.60% of the next $1 billion of average net assets; c) 0.575% of the next $1 billion of average net assets; d) 0.55% of the next $7.5 billion of average net assets; and e) 0.525% of the excess over $10 billion of average net assets.

• Short Term Government Income Trust— a) 0.57% of the first $250 million of aggregate net assets and b) 0.55% of the excess over $250 million of aggregate net assets.

• Strategic Income Opportunities Trust— a) 0.70% of the first $500 million of aggregate net assets; b) 0.65% of the next $3 billion of aggregate net assets; c) 0.60% of the next $4 billion of aggregate net assets; d) 0.59% of the next $4.5 billion of aggregate net assets; and e) 0.575% of the excess over $12 billion of aggregate net assets. Aggregate net assets include the net assets of the portfolio, Strategic Income Opportunities Fund, a series of JHF II, and Strategic Income Opportunities Fund, a subfund of Manulife Investment Management I PLC.

• Total Bond Market Trust — a) 0.47% of the first $1.5 billion of average net assets and b) 0.46% of the excess over $1.5 billion of average net assets.

• Ultra Short Term Bond Trust— a) 0.55% of the first $250 million of average net assets and b) 0.53% of the excess over $250 million of average net assets.

The organizations described below act as the subadvisors to the Trust and its portfolios pursuant to Subadvisory Agreements with the Advisor. The portfolios’ management is allocated among the following managers.

Portfolio	Subadvisor(s)
Active Bond Trust Money Market Trust Select Bond Trust Short Term Government Income Trust Strategic Income Opportunities Trust Total Bond Market Trust Ultra Short Term Bond Trust	Manulife Investment Management (US) LLC ¹
Investment Quality Bond Trust Opportunistic Fixed Income Trust	Wellington Management Company LLP
Core Bond Trust	Wells Capital Management, Incorporated
High Yield Trust	Western Asset Management Company LLC, (Sub-Subadvisor is Western Asset Management Company Limited)

¹An affiliate of the Advisor.

The portfolios are not responsible for payment of the subadvisory fees.

Expense reimbursements. The Advisor has contractually agreed to waive a portion of its management fee and/or reimburse expenses for certain funds of the John Hancock group of funds complex, including the portfolios (the participating portfolios). This waiver is based upon aggregate net assets of all the participating portfolios. The amount of the reimbursement is calculated daily and allocated among all the participating portfolios in proportion to the daily net assets of each portfolio. During the six months ended June 30, 2021, this waiver amounted to 0.01% of the portfolios’ average net assets. This agreement expires on July 31, 2023, unless renewed by mutual agreement of the Portfolios and the advisor based upon a determination that this is appropriate under the circumstances at that time.

The Advisor has contractually agreed to waive its management fee on Money Market Trust and Total Bond Market Trust or, if necessary, make payment to the portfolios in an amount so that the annual operating expenses do not exceed 0.28% and 0.25%, respectively, of the portfolios' average net assets. This waiver includes all expenses except taxes, brokerage commissions, interest expense, short dividends, acquired fund fees, class-specific expenses, borrowing

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Fees and transactions with affiliates, continued

costs, prime brokerage fees, litigation and indemnification expenses and extraordinary expenses not incurred in the ordinary course of the portfolio’s business. This agreement expires on April 30, 2022, unless renewed by mutual agreement of the advisor and the portfolio based upon a determination that this is appropriate under the circumstances at that time.

The Advisor voluntarily agreed to waive a portion of its management fee if certain expenses of the portfolios exceed 0.15% of average net assets for each of the portfolios with the exception of Total Bond Market Trust. Expenses excluded from this waiver are taxes, brokerage commissions, interest expense, litigation and indemnification expenses and other extraordinary expenses not incurred in the ordinary course of the portfolio’s business, management fees, Rule 12b-1 fees, underlying fund expenses and short dividends. This expense reduction will continue in effect until terminated by the Advisor.

The Advisor has voluntarily agreed to waive its management fees by 0.02% of the average daily net assets of Opportunistic Fixed Income Trust and Select Bond Trust. This voluntary advisory fee waivers may be terminated at any time by the Adviser upon notice to the Trust.

The Advisor has voluntarily agreed to waive its management fees by 0.06% of the average daily net assets of Ultra Short Term Bond Trust. This voluntary advisory fee waivers may be terminated at any time by the Adviser upon notice to the Trust.

The Advisor has voluntarily agreed to waive and/or reimburse all class-specific expenses for Series I and Series II shares of the Select Bond Trust to the extent they exceed 0.04% and 0.24%, respectively, of average net assets on an annualized basis attributable to the class (the class expense waiver). This voluntary class specific waiver may be terminated at any time by the Adviser upon notice to the Trust.

Effective May 1, 2021, the Advisor and Distributor have voluntarily agreed to waive a portion of their fees (including, but not limited to, Rule 12b-1 fees) and/or reimburse certain expenses to the extent necessary to assist Money Market Trust in attempting to achieve a yield of at least 0.00%. Prior to May 1, 2021, the voluntary reimbursement was set to attempt to achieve a yield of at least 0.01%. These fee waivers and/or expense reimbursements are voluntary and may be amended or terminated at any time by the Advisor upon notice to the Trust.

For the six months ended June 30, 2021, the expense reductions described above amounted to the following:

	Expense reimbursement by class
Portfolio	Series I	Series II	Series NAV	Total
Active Bond Trust	$1,484	$6,465	$23,654	$31,603
Core Bond Trust	3,866	3,533	37,284	44,683
High Yield Trust	2,787	2,061	3,751	8,599
Investment Quality Bond Trust	5,962	3,354	2,227	11,543
Money Market Trust	3,112,148	263,894	706,316	4,082,358
Opportunistic Fixed Income Trust	4,709	8,662	15,746	29,117
Select Bond Trust	33,588	80,909	1,044,793	1,159,290
Short Term Government Income Trust	1,422	1,176	5,647	8,245
Strategic Income Opportunities Trust	14,202	1,720	3,864	19,786
Total Bond Market Trust	485,481	96,671	420,666	1,002,818
Ultra Short Term Bond Trust	4,630	87,644	11,933	104,207

Expenses waived or reimbursed in the current fiscal period are not subject to recapture in future fiscal periods.

Portfolio	Net Annual Effective Rate
Active Bond Trust	0.59%
Core Bond Trust	0.56%
High Yield Trust	0.69%
Investment Quality Bond Trust	0.59%
Money Market Trust	0.06%
Opportunistic Fixed Income Trust	0.62%

Portfolio	Net Annual Effective Rate
Select Bond Trust	0.54%
Short Term Government Income Trust	0.56%
Strategic Income Opportunities Trust	0.63%
Total Bond Market Trust	0.21%
Ultra Short Term Bond Trust	0.48%

Class	Rule 12b-1 Fee
Series I	0.15%
Series II	0.35%

Currently, only 0.05% for Series I shares and 0.25% for Series ll shares are charged for Rule 12b-1 fees.

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Fees and transactions with affiliates, continued

Distribution and service fees for the six months ended June 30, 2021 were:

	Distribution and service fees by class
Portfolio	Series l	Series ll	Total
Active Bond Trust	$8,512	$185,315	$193,827
Core Bond Trust	22,192	101,378	123,570
High Yield Trust	16,000	59,063	75,063
Investment Quality Bond Trust	34,215	96,269	130,484
Money Market Trust	426,506	116,716	543,222
Opportunistic Fixed Income Trust	7,871	72,109	79,980
Select Bond Trust	43,351	522,181	565,532
Short Term Government Income Trust	8,159	33,850	42,009
Strategic Income Opportunities Trust	81,509	49,180	130,689
Total Bond Market Trust	91,756	91,373	183,129
Ultra Short Term Bond Trust	3,377	318,871	322,248

Portfolio	Borrower or Lender	Weighted Average Loan Balance	Days Outstanding	Weighted Average Interest Rate	Interest Income (Expense)
Active Bond Trust	Lender	$9,620,794	3	0.655%	$525
Investment Quality Bond Trust	Lender	12,800,000	2	0.662%	471
Opportunistic Fixed Income Trust	Lender	5,000,000	2	0.663%	184

6. Portfolio share transactions

Transactions in portfolios' shares for the six months ended June 30, 2021 and for the year ended December 31, 2020 were as follows:

Active Bond Trust	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series I shares
Sold	150,798	$1,541,438	377,811	$3,840,908
Distributions reinvested	—	—	104,161	1,058,278
Repurchased	(197,492)	(2,013,404)	(802,352)	(8,129,546)
Net decrease	(46,694)	$(471,966)	(320,380)	$(3,230,360)
Series II shares
Sold	940,401	$9,571,549	3,298,924	$33,951,838
Distributions reinvested	—	—	392,040	3,994,890
Repurchased	(1,100,816)	(11,230,970)	(3,489,948)	(35,089,999)
Net increase (decrease)	(160,415)	$(1,659,421)	201,016	$2,856,729
Series NAV shares
Sold	471,643	$4,811,259	2,374,872	$24,106,386
Distributions reinvested	—	—	1,635,935	16,637,458
Repurchased	(1,310,746)	(13,372,131)	(5,180,050)	(52,470,087)
Net decrease	(839,103)	$(8,560,872)	(1,169,243)	$(11,726,243)
Total net decrease	(1,046,212)	$(10,692,259)	(1,288,607)	$(12,099,874)

Core Bond Trust	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series I shares
Sold	266,837	$3,730,685	484,277	$6,839,341
Distributions reinvested	—	—	151,668	2,137,004
Repurchased	(482,402)	(6,729,351)	(960,187)	(13,426,171)
Net decrease	(215,565)	$(2,998,666)	(324,242)	$(4,449,826)
Series II shares
Sold	298,235	$4,142,846	923,227	$12,973,086
Distributions reinvested	—	—	126,519	1,780,118
Repurchased	(491,567)	(6,836,958)	(1,079,957)	(15,037,578)
Net decrease	(193,332)	$(2,694,112)	(30,211)	$(284,374)

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Portfolio share transactions, continued

Core Bond Trust, Cont'd	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series NAV shares
Sold	2,843,289	$39,532,268	5,352,084	$75,771,073
Distributions reinvested	—	—	1,433,171	20,093,057
Repurchased	(1,855,654)	(25,712,157)	(14,344,082)	(194,467,672)
Net increase (decrease)	987,635	$13,820,111	(7,558,827)	$(98,603,542)
Total net increase (decrease)	578,738	$8,127,333	(7,913,280)	$(103,337,742)

High Yield Trust	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series I shares
Sold	476,283	$2,567,316	1,124,470	$5,613,642
Distributions reinvested	—	—	770,368	3,851,840
Repurchased	(828,511)	(4,431,439)	(2,379,389)	(12,036,465)
Net decrease	(352,228)	$(1,864,123)	(484,551)	$(2,570,983)
Series II shares
Sold	1,176,096	$6,537,801	993,567	$5,156,969
Distributions reinvested	—	—	511,298	2,622,957
Repurchased	(654,708)	(3,595,067)	(2,334,900)	(12,126,379)
Net increase (decrease)	521,388	$2,942,734	(830,035)	$(4,346,453)
Series NAV shares
Sold	2,618,953	$13,837,037	3,036,613	$14,769,315
Distributions reinvested	—	—	1,031,917	5,066,715
Repurchased	(1,641,484)	(8,625,090)	(4,274,403)	(21,555,690)
Net increase (decrease)	977,469	$5,211,947	(205,873)	$(1,719,660)
Total net increase (decrease)	1,146,629	$6,290,558	(1,520,459)	$(8,637,096)

Investment Quality Bond Trust	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series I shares
Sold	625,998	$7,436,823	1,444,120	$17,484,546
Distributions reinvested	—	—	264,036	3,163,148
Repurchased	(803,803)	(9,602,025)	(2,236,762)	(26,125,785)
Net decrease	(177,805)	$(2,165,202)	(528,606)	$(5,478,091)
Series II shares
Sold	522,157	$6,234,348	1,240,005	$14,914,036
Distributions reinvested	—	—	135,600	1,625,848
Repurchased	(670,639)	(8,013,024)	(1,490,545)	(17,469,317)
Net decrease	(148,482)	$(1,778,676)	(114,940)	$(929,433)
Series NAV shares
Sold	1,285,814	$15,343,521	1,060,742	$12,533,806
Distributions reinvested	—	—	90,690	1,081,930
Repurchased	(135,137)	(1,618,268)	(1,175,521)	(13,945,204)
Net increase (decrease)	1,150,677	$13,725,253	(24,089)	$(329,468)
Total net increase (decrease)	824,390	$9,781,375	(667,635)	$(6,736,992)

Money Market Trust	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series I shares
Sold	80,985,312	$80,985,312	913,281,032	$913,281,032
Distributions reinvested	58,159	58,159	4,603,713	4,603,713
Repurchased	(328,377,051)	(328,377,051)	(502,746,109)	(502,746,109)
Net increase (decrease)	(247,333,580)	$(247,333,580)	415,138,636	$415,138,636
Series II shares
Sold	2,127,914	$2,127,914	1,357,271	$1,357,273
Distributions reinvested	3,157	3,157	280,623	280,622
Repurchased	(14,059,895)	(14,059,895)	(21,886,914)	(21,886,914)
Net decrease	(11,928,824)	$(11,928,824)	(20,249,020)	$(20,249,019)

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Portfolio share transactions, continued

Money Market Trust, Cont'd	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series NAV shares
Sold	184,792,665	$184,792,665	346,735,235	$346,735,235
Distributions reinvested	14,714	14,714	1,363,842	1,363,842
Repurchased	(199,055,867)	(199,055,867)	(270,734,541)	(270,734,541)
Net increase (decrease)	(14,248,488)	$(14,248,488)	77,364,536	$77,364,536
Total net increase (decrease)	(273,510,892)	$(273,510,892)	472,254,152	$472,254,153

Opportunistic Fixed Income Trust	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series I shares
Sold	153,631	$2,061,795	180,426	$2,320,461
Distributions reinvested	—	—	90,762	1,186,256
Repurchased	(168,188)	(2,250,837)	(387,972)	(5,012,361)
Net decrease	(14,557)	$(189,042)	(116,784)	$(1,505,644)
Series II shares
Sold	292,462	$3,823,994	541,474	$7,135,933
Distributions reinvested	—	—	163,005	2,097,869
Repurchased	(322,469)	(4,236,129)	(1,226,900)	(15,106,497)
Net decrease	(30,007)	$(412,135)	(522,421)	$(5,872,695)
Series NAV shares
Sold	1,305,664	$17,362,642	1,389,078	$18,244,137
Distributions reinvested	—	—	301,814	3,929,619
Repurchased	(251,921)	(3,361,089)	(2,478,638)	(31,050,688)
Net increase (decrease)	1,053,743	$14,001,553	(787,746)	$(8,876,932)
Total net increase (decrease)	1,009,179	$13,400,376	(1,426,951)	$(16,255,271)

Select Bond Trust	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series I shares
Sold	847,989	$12,096,234	1,837,289	$26,888,465
Distributions reinvested	—	—	353,421	5,078,662
Repurchased	(688,799)	(9,882,019)	(2,672,067)	(37,636,685)
Net increase (decrease)	159,190	$2,214,215	(481,357)	$(5,669,558)
Series II shares
Sold	2,838,087	$40,640,042	21,572,760	$309,340,365
Distributions reinvested	—	—	821,481	11,829,321
Repurchased	(3,354,544)	(48,183,444)	(23,161,295)	(332,138,240)
Net decrease	(516,457)	$(7,543,402)	(767,054)	$(10,968,554)
Series NAV shares
Sold	30,567,252	$440,320,376	38,729,754	$563,616,117
Distributions reinvested	—	—	14,743,503	211,716,697
Repurchased	(9,922,596)	(142,128,331)	(117,881,934)	(1,638,492,092)
Net increase (decrease)	20,644,656	$298,192,045	(64,408,677)	$(863,159,278)
Total net increase (decrease)	20,287,389	$292,862,858	(65,657,088)	$(879,797,390)

Short Term Government Income Trust	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series I shares
Sold	272,998	$3,345,712	891,254	$11,053,867
Distributions reinvested	—	—	47,820	586,755
Repurchased	(348,758)	(4,271,171)	(1,196,993)	(14,761,294)
Net decrease	(75,760)	$(925,459)	(257,919)	$(3,120,672)
Series II shares
Sold	570,798	$6,998,622	2,060,581	$25,499,697
Distributions reinvested	—	—	37,388	459,125
Repurchased	(1,152,471)	(14,104,866)	(1,611,679)	(19,982,613)
Net increase (decrease)	(581,673)	$(7,106,244)	486,290	$5,976,209

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Portfolio share transactions, continued

Short Term Government Income Trust, Cont'd	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series NAV shares
Sold	1,066,335	$13,046,718	2,452,147	$30,378,810
Distributions reinvested	—	—	186,321	2,286,164
Repurchased	(1,121,569)	(13,746,103)	(1,852,254)	(22,927,906)
Net increase (decrease)	(55,234)	$(699,385)	786,214	$9,737,068
Total net increase (decrease)	(712,667)	$(8,731,088)	1,014,585	$12,592,605

Strategic Income Opportunities Trust	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series I shares
Sold	988,343	$14,348,349	1,246,259	$17,242,252
Distributions reinvested	—	—	385,734	5,373,280
Repurchased	(2,062,406)	(29,995,958)	(5,248,378)	(70,202,164)
Net decrease	(1,074,063)	$(15,647,609)	(3,616,385)	$(47,586,632)
Series II shares
Sold	435,247	$6,337,110	326,428	$4,549,357
Distributions reinvested	—	—	36,497	509,859
Repurchased	(83,652)	(1,218,392)	(442,161)	(5,901,876)
Net increase (decrease)	351,595	$5,118,718	(79,236)	$(842,660)
Series NAV shares
Sold	300,580	$4,344,003	451,481	$6,245,267
Distributions reinvested	—	—	100,844	1,399,714
Repurchased	(49,228)	(711,428)	(413,451)	(5,554,616)
Net increase	251,352	$3,632,575	138,874	$2,090,365
Total net decrease	(471,116)	$(6,896,316)	(3,556,747)	$(46,338,927)

Total Bond Market Trust	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series I shares
Sold	1,359,487	$14,594,185	10,439,481	$113,757,910
Distributions reinvested	—	—	846,667	9,152,472
Repurchased	(3,907,626)	(41,593,394)	(5,510,706)	(59,795,492)
Net increase (decrease)	(2,548,139)	$(26,999,209)	5,775,442	$63,114,890
Series II shares
Sold	681,100	$7,257,501	4,117,759	$44,648,520
Distributions reinvested	—	—	151,099	1,636,397
Repurchased	(1,781,941)	(18,956,576)	(2,398,056)	(25,986,110)
Net increase (decrease)	(1,100,841)	$(11,699,075)	1,870,802	$20,298,807
Series NAV shares
Sold	1,874,925	$19,890,769	8,502,670	$92,540,560
Distributions reinvested	—	—	651,448	7,042,157
Repurchased	(1,838,509)	(19,598,103)	(5,037,829)	(54,353,963)
Net increase	36,416	$292,666	4,116,289	$45,228,754
Total net increase (decrease)	(3,612,564)	$(38,405,618)	11,762,533	$128,642,451

Ultra Short Term Bond Trust	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series I shares
Sold	276,633	$3,170,551	1,094,958	$12,620,460
Distributions reinvested	—	—	21,925	251,265
Repurchased	(429,709)	(4,925,093)	(873,030)	(10,117,045)
Net increase (decrease)	(153,076)	$(1,754,542)	243,853	$2,754,680
Series II shares
Sold	7,178,230	$82,217,942	12,634,587	$145,807,629
Distributions reinvested	—	—	394,546	4,521,502
Repurchased	(8,719,006)	(99,861,526)	(11,082,158)	(127,761,657)
Net increase (decrease)	(1,540,776)	$(17,643,584)	1,946,975	$22,567,474

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Portfolio share transactions, continued

Ultra Short Term Bond Trust, Cont'd	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series NAV shares
Sold	372,327	$4,268,396	892,871	$10,288,662
Distributions reinvested	—	—	58,439	669,716
Repurchased	(187,195)	(2,146,525)	(634,001)	(7,331,244)
Net increase	185,132	$2,121,871	317,309	$3,627,134
Total net increase (decrease)	(1,508,720)	$(17,276,255)	2,508,137	$28,949,288

Affiliates of the Trust owned 100% of shares of the portfolios, with the exception of Core Bond Trust, Select Bond Trust and Strategic Income Opportunities Trust. For Core Bond Trust, affiliates owned 90.73% and 99.89% of Series II and Series NAV shares, respectively. For Select Bond Trust, affiliates owned 99.92% of Series II shares. For Strategic Income Opportunities Trust, affiliates owned 79.58% and 99.62% of Series II and Series NAV shares, respectively, on June 30, 2021. Such concentration of shareholders’ capital could have a material effect on the portfolios if such shareholders redeem from the portfolios.

7. Purchase and sale of securities

Purchases and sales of securities, other than short-term investments, amounted to the following for the six months ended June 30, 2021:

	Purchases		Sales
Portfolio	U.S. Government	Other issuers	U.S. Government	Other issuers
Active Bond Trust	$151,685,338	$222,383,669	$122,666,398	$251,470,243
Core Bond Trust	1,157,996,556	488,138,319	1,099,895,569	551,066,802
High Yield Trust	—	92,330,541	—	82,452,979
Investment Quality Bond Trust	31,400,362	65,251,523	15,236,595	62,751,305
Opportunistic Fixed Income Trust	1,995,428	151,586,253	1,308,639	136,978,842
Select Bond Trust	4,252,552,589	2,534,361,235	3,984,650,676	2,430,861,910
Short Term Government Income Trust	—	31,023,002	11,323,431	26,274,006
Strategic Income Opportunities Trust	2,989,726	201,799,822	12,484,141	190,243,156
Total Bond Market Trust	13,845,391	112,831,095	20,500,000	156,502,705
Ultra Short Term Bond Trust	—	59,809,138	—	124,793,090

8. Investment in affiliated underlying funds

Certain portfolios may invest in affiliated underlying funds that are managed by the Advisor and its affiliates. Information regarding the portfolios' fiscal year to date purchases and sales of the affiliated underlying funds as well as income and capital gains earned by the portfolios, if any, is as follows:

							Dividends and distributions
Affiliate	Ending share amount	Beginning value	Cost of purchases	Proceeds from shares sold	Realized gain (loss)	Change in unrealized appreciation (depreciation)	Income distributions received	Capital gain distributions received	Ending value
Active Bond Trust
John Hancock Collateral Trust*	340,971	$2,498,620	$38,198,622	$(37,285,509)	$(571)	$113	$7,347	—	$3,411,275
Core Bond Trust
John Hancock Collateral Trust*	163,840	$2,343,146	$35,276,524	$(35,980,225)	$(498)	$202	$4,409	—	$1,639,149
High Yield Trust
John Hancock Collateral Trust*	345,094	$3,208,593	$11,970,914	$(11,726,357)	$(742)	$124	$11,807	—	$3,452,532
Investment Quality Bond Trust
John Hancock Collateral Trust*	61,096	$1,125,357	$2,679,848	$(3,193,820)	$(249)	$106	$3,706	—	$611,242
Opportunistic Fixed Income Trust
John Hancock Collateral Trust*	—	$56,869	$233,349	$(290,176)	$(47)	$5	$189	—	—
Select Bond Trust
John Hancock Collateral Trust*	1,341,364	$13,200,540	$256,656,415	$(256,432,495)	$(5,451)	$799	—	—	$13,419,808
Short Term Government Income Trust
John Hancock Collateral Trust*	—	—	$5,049,001	$(5,049,001)	—	—	$1,443	—	—
Strategic Income Opportunities Trust
John Hancock Collateral Trust*	341,886	$2,919,409	$17,820,083	$(17,318,572)	$(581)	$96	$1,805	—	$3,420,435
Total Bond Market Trust

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Investment in affiliated underlying funds, continued

							Dividends and distributions
Affiliate	Ending share amount	Beginning value	Cost of purchases	Proceeds from shares sold	Realized gain (loss)	Change in unrealized appreciation (depreciation)	Income distributions received	Capital gain distributions received	Ending value
John Hancock Collateral Trust*	397,568	$2,699,062	$15,890,294	$(14,611,268)	$(686)	$110	$5,004	—	$3,977,512
Ultra Short Term Bond Trust
John Hancock Collateral Trust*	—	$104,000	$39,848,120	$(39,951,249)	$(871)	—	$7,946	—	—

*	Refer to the Securities lending note within Note 2 for details regarding this investment.

9. Investment by affiliated funds

Portfolio	Affiliated Concentration
Core Bond Trust	58.6%
Select Bond Trust	91.9%

10. Interfund trading

Portfolio	Purchases	Sales
Active Bond Trust	$-	$5,320,364

11. Restricted securities

Issuer, Description	Original acquisition date	Acquisition cost	Beginning share amount	Shares purchased	Shares sold	Ending share amount	Value as a percentage of net assets	Ending value
High Yield Trust
KCAD Holdings I, Ltd.	3-21-11	$1,353,651	165,553,563	—	—	165,553,563	0.0%¹	$166
MWO Holdings LLC	8-30-16	438,156	445	—	—	445	0.0%¹	3,369
New Cotai, Inc., Class B	4-12-13	—	3	—	—	3	0.0%	—
								$3,535

¹	Less than 0.05%.

12. LIBOR discontinuation risk

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13. Coronavirus (COVID-19) pandemic

14. New accounting pronouncement

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John Hancock Variable Insurance Trust

Evaluation of Advisory and Subadvisory Agreements by the Board of Trustees

Approval of Advisory and Subadvisory Agreements

Approval of Advisory Agreement

In the course of their deliberations regarding the Advisory Agreement, the Board considered, among other things:

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John Hancock Variable Insurance Trust

Evaluation of Advisory and Subadvisory Agreements by the Board of Trustees

(b) the background, qualifications and skills of the Advisor’s personnel;

(c) the Advisor’s compliance policies and procedures and its responsiveness to regulatory changes and fund industry developments;

(e) the financial condition of the Advisor and whether it has the financial wherewithal to provide a high level and quality of services to the Funds;

(f) the Advisor’s initiatives intended to improve various aspects of the Trust’s operations and investor experience with the Funds; and

The Board concluded that the Advisor may reasonably be expected to continue to provide a high quality of services under the Advisory Agreement with respect to the Funds.

Investment performance. In considering each Fund’s performance, the Board noted that it reviews at its regularly scheduled meetings information about the Funds’ performance results. In connection with the consideration of the Advisory Agreement, the Board:

(a) reviewed information prepared by management regarding the Funds' performance;

(b) considered the comparative performance of each Fund’s respective benchmark;

(c) considered the performance of comparable funds, if any, as included in the report prepared by an independent third-party provider of fund data; and

Fees and expenses. The Board reviewed comparative information prepared by an independent third-party provider of fund data including, among other data, each Fund’s contractual and net management fees (and subadvisory fees, to the extent available) and total expenses as compared to similarly situated investment companies deemed to be comparable to the Fund in light of the nature, extent and quality of the management and subadvisory services provided by the Advisor and the Subadvisors. The Board considered each Fund’s ranking within a smaller group of peer funds chosen by the independent third-party provider, as well as the Fund’s ranking within broader groups of funds. In comparing each Fund’s contractual and net management fees to that of comparable funds, the Board noted that such fee includes both advisory and administrative costs.

in each case in light of the services rendered for those amounts and the risks undertaken by the Advisor. The Board also noted that, in addition, the Advisor is currently waiving fees and/or reimbursing expenses with respect to certain of the Funds. The Board also noted that the Advisor pays the subadvisory fees of the Funds, and that such fees are negotiated at arm’s length with respect to unaffiliated Subadvisors. In addition, the Board noted that the Advisor continued advisory and subadvisory fee reductions in the past year with respect to several Funds. The Board also took into account that management had agreed to implement an overall fee waiver across the complex, which is discussed further below. The Board also noted management’s discussion of the Funds’ expenses, as well as certain actions taken over the past several years to reduce the Funds’ operating expenses. The Board reviewed information provided by the Advisor concerning investment advisory fees charged to other clients (including other funds in the complex) having similar investment mandates, if any. The Board considered any differences between the Advisor’s and Subadvisor’s services to a Fund and the services they provide to other such comparable clients or funds. The Board concluded that the advisory fee paid with respect to each of the Funds is reasonable in light of the nature, extent and quality of the services provided to the Funds under the Advisory Agreement.

(a) reviewed financial information of the Advisor;

(c) received and reviewed profitability information with respect to the John Hancock fund complex as a whole and with respect to each Fund;

(e) considered fall out benefits to the Advisor, including (but not limited to), benefits to affiliates, such as that the John Hancock insurance companies that are affiliates of the Advisor, as shareholders of the Trust directly or through their separate accounts, receive certain tax credits or deductions relating to foreign taxes paid and dividends received by certain Funds of the Trust and noted that these tax benefits, which are not available to contract holders under applicable income tax law, are reflected in the profitability analysis reviewed by the Board;

(f) considered that the Advisor also provides administrative services to the Funds on a cost basis pursuant to an administrative services agreement;

(g) noted that certain of the Funds’ Subadvisors are affiliates of the Advisor;

(h) noted that affiliates of the Advisor provide distribution services to the Funds, and that the Trust’s distributor also receives Rule 12b-1 payments to support distribution of the products;

(i) noted that the Advisor also derives reputational and other indirect benefits from providing advisory services to the Funds;

(j) noted that the subadvisory fees for the Funds are paid by the Advisor and are negotiated at arm’s length with respect to the unaffiliated Subadvisors;

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John Hancock Variable Insurance Trust

Evaluation of Advisory and Subadvisory Agreements by the Board of Trustees

(k) considered the Advisor’s ongoing costs and expenditures necessary to improve services, meet new regulatory and compliance requirements, and adapt to other challenges impacting the fund industry; and

(l) considered that the Advisor should be entitled to earn a reasonable level of profits in exchange for the level of services it provides to each Fund and the risks that it assumes as Advisor, including entrepreneurial, operational, reputational, litigation and regulatory risk.

(a) with respect to each Fund (except those discussed specifically below), considered that the Advisor has agreed to waive a portion of its management fee for such Fund and for each of the other John Hancock funds in the complex (except as discussed below) (the Participating Portfolios) or otherwise reimburse the expenses of the Participating Portfolios (the Reimbursement). This waiver is based on the aggregate net assets of all the Participating Portfolios. The Board also noted that the Advisor had implemented additional breakpoints to the complex-wide fee waiver in recent years.
(The Funds that are not Participating Portfolios as of the date of this annual report are each of the funds of funds of the Trust and John Hancock Funds II and John Hancock Collateral Trust. These funds of funds also benefit from such overall management fee waiver through their investment in underlying portfolios that include certain of the Participating Portfolios, which are subject to the Reimbursement.)

Approval of Subadvisory Agreements

In making its determination with respect to approval of the Subadvisory Agreements, the Board reviewed:

(1)	information relating to the Subadvisor’s business, including current subadvisory services to the Trust (and other funds in the John Hancock group of funds);
(2)	the historical and current performance of each Fund and comparative performance information relating to the Fund’s benchmark and comparable funds based on the median percentile;
(3)	the subadvisory fee for each Fund, including any breakpoints, and comparative fee information, where available, prepared by an independent third-party provider of fund data; and
(4)	information relating to the nature and scope of any material relationships and their significance to the Trust’s Advisor and Subadvisors.

Subadvisor’s Form ADV, as well as took into account information presented throughout the past year. The Board considered each Subadvisor’s current level of staffing and its overall resources, as well as received information relating to a Subadvisor’s compensation program. The Board reviewed each Subadvisor’s history and investment experience, as well as information regarding the qualifications, background and responsibilities of the Subadvisor’s investment and compliance personnel who provide services to the Funds. The Board also considered, among other things, the Subadvisor’s compliance program and any disciplinary history. The Board also considered the Subadvisor’s risk assessment and monitoring process.The Board reviewed each Subadvisor’s regulatory history, including whether it was currently involved in any regulatory actions or investigations as well as material litigation, and any settlements and amelioratory actions undertaken, as appropriate. The Board noted that the Advisor conducts regular, periodic reviews of each Subadvisor and its operations, including regarding investment processes and organizational and staffing matters. The Board also noted that the CCO and his staff conduct regular, periodic compliance reviews with each of the Subadvisors and present reports to the Independent Trustees regarding the same, which includes evaluating the regulatory compliance systems of the Subadvisors and procedures reasonably designed by them to assure compliance with the federal securities laws. The Board also took into account the financial condition of each Subadvisor.

The Board also received information regarding the nature and scope (including their significance to the Advisor and its affiliates and to unaffiliated Subadvisors) of any material relationships with respect to the unaffiliated Subadvisors, which include arrangements in which unaffiliated Subadvisors or their affiliates provide advisory, distribution or management services in connection with financial products sponsored by the Trust’s Advisor or its affiliates, and may include shares of the Trust, other registered investment companies, a 529 education savings plan, managed separate accounts and exempt group annuity contracts sold to qualified plans. The Board also received information and took into account any other potential conflicts of interests the Advisor might have in connection with the Subadvisory Agreements.

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John Hancock Variable Insurance Trust

Evaluation of Advisory and Subadvisory Agreements by the Board of Trustees

account the sub-advisory fees paid by the Advisor to fees charged by each Fund’s Subadvisor to manage other sub-advised portfolios and portfolios not subject to regulation under the 1940 Act, as applicable.

The Board’s decision to approve the Subadvisory Agreement with respect to each Fund was based on a number of determinations, including the following:

(1)

Each Subadvisor has extensive experience and demonstrated skills as a manager;

(2)

Although not without variation, the performance of each Fund managed by a Subadvisor generally has been in line with or outperformed the historical performance of comparable funds and the Fund’s respective benchmarks based on the median percentile, with the exceptions noted in Appendix A (with respect to such exceptions, the Board considered the steps the Subadvisor had taken or plans to take to address performance and concluded that performance is being monitored and reasonably being addressed);

(3)	The subadvisory fees are reasonable in relation to the level and quality of services being provided under the Subadvisory Agreement; and
(4)	With respect to those Funds that have subadvisory fees that contain breakpoints, certain breakpoints are reflected as breakpoints in the advisory fees for the Funds in order to permit shareholders to benefit from economies of scale if those Funds grow.

***

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John Hancock Variable Insurance Trust

Appendix A

Portfolio (Subadviser)	Performance as of 12/31/2020	Fees and Expenses	Comments
Active Bond Trust (Manulife Investment Management (US) LLC)	Benchmark Index – The Trust outperformed the benchmark index for the one-, three-, five- and ten-year periods. Broadridge Category – The Trust outperformed the peer group median for the one-, five- and ten-year periods and underperformed the peer group median for the three-year period.	The subadviser fees for this Trust are lower than the peer group median. Net management fees for this Trust are higher than the peer group median. Net total expenses for this Trust are lower than the peer group median.	The Board took into account management’s discussion of the factors that contributed to the Trust’s performance for the three-year period relative to the peer group median. The Board noted the Trust’s favorable performance relative to the benchmark index for the one-, three-, five- and ten-year periods and to the peer group median for the one-, five- and ten-year periods. The Board noted that the Trust outperformed its Morningstar peer group and benchmark index for the year-to-date period ended April 30, 2021. The Board took into account management’s discussion of the Trust’s expenses. The Board noted the Trust’s net total expenses are lower than the peer group median.
Core Bond Trust (Wells Capital Management, Incorporated)	Benchmark Index – The Trust outperformed the benchmark index for the one-, three- and ten-year periods and equaled the benchmark index for the five-year period. Broadridge Category – The Trust outperformed the peer group median for the one-, three- and ten-year periods and underperformed the peer group median for the five-year period.	The subadviser fees for this Trust are lower than the peer group median. Net management fees for this Trust are higher than the peer group median. Net total expenses for this Trust are lower than the peer group median.	The Board took into account management’s discussion of the factors that contributed to the Trust’s performance for the five-year period relative to the peer group median. The Board noted the Trust’s favorable performance relative to the benchmark index for the one-, three-, five- and ten-year periods and to the period group median for the one-, three- and ten-year periods. The Board took into account management’s discussion of the Trust’s expenses. The Board noted the Trust’s total net expenses are lower than the peer group median.

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Appendix A

Portfolio (Subadviser)	Performance as of 12/31/2020	Fees and Expenses	Comments
High Yield Trust (Western Asset Management Company, LLC)	Benchmark Index – The Trust underperformed the benchmark index for the one-, three-, five- and ten-year periods. Broadridge Category – The Trust outperformed the peer group median for the one-, three- and five-year periods and underperformed the peer group median for the ten-year period.	The subadviser fees for this Trust are lower than the peer group median. Net management fees for this Trust are higher than the peer group median. Net total expenses for this Trust are lower than the peer group median.	The Board took into account management’s discussion of the factors that contributed to the Trust’s performance for the one-, three-, five- and ten- periods relative to the benchmark index and to the peer group median for the ten-year period. The Board noted the Trust’s favorable performance relative to the peer group median for the one-, three-, and five-year periods. The Board noted that the Trust outperformed its Morningstar peer group and benchmark index for the year-to-date period ended April 30, 2021. The Board took into account management’s discussion of the Trust’s expenses. The Board noted the Trust’s total net expenses are lower than the peer group median.
Investment Quality Bond Trust (Wellington Management Company LLP)	Benchmark Index – The Trust outperformed the benchmark index for the one-, three-, five- and ten-year periods. Broadridge Category – The Trust outperformed the peer group median for the one-, three-, five- and ten-year periods.	The subadviser fees for this Trust are equal to the peer group median. Net management fees for this Trust are higher than the peer group median. Net total expenses for this Trust are lower than the peer group median.	The Board noted the Trust’s favorable performance relative to the benchmark index and to the peer group median for the one-, three-, five- and ten-year periods. The Board took into account management’s discussion of the Trust’s expenses. The Board noted the Trust’s total net expenses are lower than the peer group median.
Money Market Trust (Manulife Investment Management (US) LLC)	Benchmark Index – The Trust underperformed the benchmark index for the one-, three-, five- and ten-year periods. Broadridge Category – The Trust outperformed the peer group median for the one-, three-, five- and ten-year periods.	The subadviser fees for this Trust are lower than the peer group median. Net management fees for this Trust are higher than the peer group median. Net total expenses for this Trust are lower than the peer group median.	The Board took into account management’s discussion of the factors that contributed to the Trust’s performance for the one-, three-, five- and ten-periods relative to the benchmark index. The Board noted the Trust’s favorable performance relative to the peer group median for the one-, three-, five- and ten-year periods. The Board noted that the Trust outperformed its Morningstar peer group and benchmark index for the year-to-date period ended April 30, 2021. The Board took into account management’s discussion of the Trust’s expenses. The Board noted the Trust’s net total expenses are lower than the peer group median.

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John Hancock Variable Insurance Trust

Appendix A

Portfolio (Subadviser)	Performance as of 12/31/2020	Fees and Expenses	Comments
Opportunistic Fixed Income Trust (Wellington Management Company LLP)	Benchmark Index – The Trust outperformed the benchmark index for the one-, three- and five-year periods and underperformed the benchmark index for the ten-year period. Broadridge Category – The Trust outperformed the peer group median for the one-, three-, five- and ten-year periods.	Limited comparative subadviser fee data was provided due to the limited number of Broadridge peer funds. Net management fees for this Trust are equal to the peer group median. Net total expenses for this Trust are higher than the peer group median.	The Board took into account management’s discussion of the factors that contributed to the Trust’s performance for the ten-year period relative to the benchmark index. The Board noted the Trust’s favorable performance relative to the benchmark index for the one-, three- and five-year periods and to the peer group median for the one-, three-, five- and ten-year periods. The Board took into account management’s discussion of the Trust’s expenses. The Board noted the Trust’s net management fees are equal to the peer group median.
Select Bond Trust (Manulife Investment Management (US) LLC)	Benchmark Index – The Trust outperformed the benchmark index for the one-, three- and five-year periods and underperformed the benchmark index for the ten-year period. Broadridge Category – The Trust outperformed the peer group median for the one-, three-, five- and ten-year periods.	Limited comparative subadviser fee data was provided due to the limited number of Broadridge peer funds. Net management fees for this Trust are higher than the peer group median. Net total expenses for this Trust are higher than the peer group median.	The Board took into account management’s discussion of the factors that contributed to the Trust’s performance for the ten-year period relative to the benchmark index. The Board noted the Trust’s favorable performance relative to the benchmark index for the one-, three- and five-year periods and to the peer group median for the one-, three-, five- and ten-year periods. The Board noted that the Trust outperformed its Morningstar peer group and benchmark index for the year-to-date period ended April 30, 2021. The Board took into account management’s discussion of the Trust’s expenses.

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John Hancock Variable Insurance Trust

Appendix A

Portfolio (Subadviser)	Performance as of 12/31/2020	Fees and Expenses	Comments
Short Term Government Income Trust (Manulife Investment Management (US) LLC)	Benchmark Index – The Trust underperformed the benchmark index for the one-, three-, five- and ten-year periods. Broadridge Category – The Trust underperformed the peer group median for the one-, three-, five- and ten-year periods.	Limited comparative subadviser fee data was provided due to the limited number of Broadridge peer funds. Net management fees for this Trust are higher than the peer group median. Net total expenses for this Trust are lower than the peer group median.	The Board took into account management’s discussion of the factors that contributed to the Trust’s performance for the one-, three-, five- and ten-year periods relative to the benchmark index and to the peer group median including the impact of past and current market conditions on the Trust’s strategy and management’s outlook for the Trust. The Board noted that the Trust outperformed its Morningstar peer group for the year-to-date period ended April 30, 2021. The Board took into account management’s discussion of the Trust’s expenses. The Board noted the Trust’s net total expenses are lower than the peer group median.
Strategic Income Opportunities Trust (Manulife Investment Management (US) LLC)	Benchmark Index – The Trust outperformed the benchmark index for the one-, five- and ten-year periods and underperformed the benchmark index for the three-year period. Broadridge Category – The Trust outperformed the peer group median for the one-and ten-year periods and underperformed the peer group median for the three- and five-year periods.	The subadviser fees for this Trust are lower than the peer group median. Net management fees for this Trust are higher than the peer group median. Net total expenses for this Trust are lower than the peer group median.	The Board took into account management’s discussion of the factors that contributed to the Trust’s performance for the three-year period relative to the benchmark index and to the peer group median for the three- and five-year periods. The Board noted the Trust’s favorable performance relative to the benchmark index for the one-, five- and ten-year periods and to the peer group median for the one- and ten-year periods. The Board noted that the Trust outperformed its Morningstar peer group for the year-to-date period ended April 30, 2021. The Board took into account management’s discussion of the Trust’s expenses. The Board noted the Trust’s net total expenses are lower than the peer group median.

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Appendix A

Portfolio (Subadviser)	Performance as of 12/31/2020	Fees and Expenses	Comments
Total Bond Market Trust (Manulife Investment Management (US) LLC)	Benchmark Index – The Trust underperformed the benchmark index for the one-, three-, five- and ten-year periods. Broadridge Category – The Trust underperformed the peer group median for the one-, three-, five- and ten-year periods.	The subadviser fees for this Trust are equal to the peer group median. Net management fees for this Trust are lower than the peer group median. Net total expenses for this Trust are lower than the peer group median.	The Board took into account management’s discussion of the factors that contributed to the Trust’s performance for the one-, three-, five- and ten-year periods relative to the benchmark index and to the peer group median including the impact of past and current market conditions on the Fund’s strategy and management’s outlook for the Fund. The Board noted the Trust’s net management fees and net total expenses are lower than the peer group median.
Ultra Short Term Bond Trust (Manulife Investment Management (US) LLC)	Benchmark Index – The Trust outperformed the benchmark index for the one-year period and underperformed the benchmark index for the three-, five- and ten-year periods. Broadridge Category – The Trust outperformed the peer group median for the one- and three-year periods and underperformed the peer group median for the five- and ten-year periods.	Limited comparative subadviser fee data was provided due to the limited number of Broadridge peer funds. Net management fees for this Trust are higher than the peer group median. Net total expenses for this Trust are higher than the peer group median.	The Board took into account management’s discussion of the factors that contributed to the Trust’s performance for the three-, five- and ten-year periods relative to the benchmark index and to the peer group median for the five- and ten-year periods. The Board noted the Trust’s favorable performance relative to the benchmark index for the one-year period and to the peer group median for the one- and three-year periods. The Board took into account management’s discussion of the Trust’s expenses.

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John Hancock Variable Insurance Trust

STATEMENT REGARDING LIQUIDITY RISK MANAGEMENT

Operation of the Liquidity Risk Management Program

The Committee holds monthly meetings to: (1) review the day-to-day operations of the LRMP; (2) review and approve month end liquidity classifications; (3) review quarterly testing and determinations, as applicable; and (4) review other LRMP related material. The Advisor also conducts daily, monthly, quarterly, and annual quantitative and qualitative assessments of each subadvisor to a Fund that is subject to the requirements of the Liquidity Rule and is a part of the LRMP to monitor investment performance issues, risks and trends. In addition, the Advisor may conduct ad-hoc reviews and meetings with subadvisors as issues and trends are identified, including potential liquidity and valuation issues. The Committee also monitors global events, such as the COVID-19 Coronavirus, that could impact the markets and liquidity of portfolio investments and their classifications.

The Committee provided the Board at a meeting held by videoconference on March 23-25, 2021 with a written report which addressed the Committee’s

assessment of the adequacy and effectiveness of the implementation and operation of the LRMP and any material changes to the LRMP. The report, which covered the period January 1, 2020 through December 31, 2020, included an assessment of important aspects of the LRMP including, but not limited to: (1) Highly Liquid Investment Minimum (HLIM) determination; (2) Compliance with the 15% limit on illiquid investments; (3) Reasonably Anticipated Trade Size (RATS) determination; (4) Security-level liquidity classifications; (5) Liquidity risk assessment; and (6) Operation of the Fund’s Redemption-In-Kind Procedures. Additionally, the report included a discussion of notable changes and enhancements to the LRMP implemented during 2020.

The report also covered material liquidity matters which occurred or were reported during this period applicable to the Fund, if any, and the Committee’s actions to address such matters.

The report stated, in relevant part, that during the period covered by the report:

•	The Fund’s investment strategy remained appropriate for an open-end fund structure;
•	The Fund was able to meet requests for redemption without significant dilution of remaining investors’ interests in the Fund;
•	The Fund did not report any breaches of the 15% limit on illiquid investments that would require reporting to the Securities and Exchange Commission;
•	The Fund continued to qualify as a Primarily Highly Liquid Fund under the Liquidity Rule and therefore is not required to establish a HLIM; and
•	The Chief Compliance Officer’s office performed audit testing of the LRMP which resulted in an assessment that the LRMP’s control environment was deemed to be operating effectively and in compliance with the Board approved procedures.

Adequacy and Effectiveness

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John Hancock Variable Insurance Trust

For more information

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John Hancock Annuities Service Center

P.O. Box 55444

Boston, MA 02205-5444

Management of the trust

Trustees

Officers

*	Member of the Audit Committee
^†	Non-Independent Trustee
¹	Appointed as Independent Trustee effective as of September 15, 2020
²	Effective July 31, 2020

Investment advisor

John Hancock Variable Trust Advisers LLC
Boston, Massachusetts

JHTBSA

6/30

8/21

1115017:0621

JOHN HANCOCK

Variable Insurance Trust

Managed Volatility Growth Portfolio

Managed Volatility Balanced Portfolio

Managed Volatility Moderate Portfolio

Managed Volatility Conservative Portfolio

Semiannual report

June 30, 2021

John Hancock Variable Insurance Trust

Semiannual report — Table of contents

Sector weightings	3
Shareholder expense example	4
Portfolio of investments (See below for each portfolio’s page #)	6
Statements of assets and liabilities	11
Statements of operations	12
Statements of changes in net assets	13
Financial highlights	14
Notes to financial statements	16
Special shareholder meeting (unaudited)	28
Evaluation of advisory and subadvisory agreements by the Board of Trustees	29
Appendix A	33
Statement regarding liquidity risk management	35
For more information	36

Portfolio	Portfolio of investments
Managed Volatility Growth Portfolio		6
Managed Volatility Balanced Portfolio		7

Portfolio	Portfolio of investments
Managed Volatility Moderate Portfolio		8
Managed Volatility Conservative Portfolio		9

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John Hancock Variable Insurance Trust

Sector weightings

Managed Volatility Growth Portfolio

ASSET ALLOCATION (% of net assets)
Affiliated investment companies	97.0
Equity	68.2
Large Blend	31.0
U.S. Large Cap	17.2
Emerging-Market Equity	7.0
U.S. Mid Cap	6.0
U.S. Small Cap	4.0
International Equity	3.0
Fixed income	28.8
Intermediate Bond	28.8
Unaffiliated investment companies	2.1
Equity	2.1
U.S. Government Agency	0.1
Short-term investments and other	0.8

Managed Volatility Balanced Portfolio

ASSET ALLOCATION (% of net assets)
Affiliated investment companies	97.4
Equity	48.2
Large Blend	22.0
U.S. Large Cap	13.7
Emerging-Market Equity	4.3
U.S. Mid Cap	3.7
U.S. Small Cap	2.8
International Equity	1.7
Fixed income	49.2
Intermediate Bond	49.2
Unaffiliated investment companies	1.7
Equity	1.7
U.S. Government Agency	0.1
Short-term investments and other	0.8

Managed Volatility Moderate Portfolio

ASSET ALLOCATION (% of net assets)
Affiliated investment companies	97.4
Equity	38.1
Large Blend	18.1
U.S. Large Cap	12.0
Emerging-Market Equity	2.7
U.S. Mid Cap	2.6
U.S. Small Cap	1.8
International Equity	0.9
Fixed income	59.3
Intermediate Bond	59.3
Unaffiliated investment companies	1.7
Equity	1.7
U.S. Government Agency	0.2
Short-term investments and other	0.7

Managed Volatility Conservative Portfolio

ASSET ALLOCATION (% of net assets)
Affiliated investment companies	98.5
Equity	19.1
Large Blend	9.0
U.S. Large Cap	6.5
Emerging-Market Equity	1.3
U.S. Mid Cap	1.3
U.S. Small Cap	1.0
Fixed income	79.4
Intermediate Bond	79.4
Unaffiliated investment companies	0.8
Equity	0.8
U.S. Government Agency	0.2
Short-term investments and other	0.5

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John Hancock Variable Insurance Trust

Shareholder expense example

As a shareholder of a John Hancock Variable Insurance Trust Managed Volatility Portfolio, you incur ongoing costs, including management fees, distribution and service (Rule 12b-1) fees and other expenses. In addition to the operating expenses which the portfolio bears directly, the portfolio indirectly bears a pro rata share of the operating expenses of the affiliated underlying funds in which the portfolio invests. Because the affiliated underlying funds have varied operating expenses and transaction costs and the portfolio may own different proportions of the underlying funds at different times, the amount of expenses incurred indirectly by the portfolio will vary. Had these indirect expenses been reflected in the following analysis, total expenses would have been higher than the amounts shown.

Actual expenses:

Hypothetical example for comparison purposes:

The second line of each share class in the following table provides information about hypothetical account values and hypothetical expenses based on the actual expense ratio for the share class and an assumed annualized rate of return of 5% per year before expenses, which is not the actual return of the share class. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in a portfolio and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. Please remember that these hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period.

		Account value on 1-1-2021	Ending value on 6-30-2021	Expenses paid during period ended 6-30-2021¹	Annualized expense ratio²
Managed Volatility Growth Portfolio
Series I	Actual expenses/actual returns	$1,000.00	$1,091.40	$0.78	0.15%
	Hypothetical example	1,000.00	1,024.10	0.75	0.15%
Series II	Actual expenses/actual returns	1,000.00	1,090.20	1.81	0.35%
	Hypothetical example	1,000.00	1,023.10	1.76	0.35%
Series NAV	Actual expenses/actual returns	1,000.00	1,091.30	0.52	0.10%
	Hypothetical example	1,000.00	1,024.30	0.50	0.10%
Managed Volatility Balanced Portfolio
Series I	Actual expenses/actual returns	$1,000.00	$1,069.50	$0.77	0.15%
	Hypothetical example	1,000.00	1,024.10	0.75	0.15%
Series II	Actual expenses/actual returns	1,000.00	1,068.30	1.79	0.35%
	Hypothetical example	1,000.00	1,023.10	1.76	0.35%
Series NAV	Actual expenses/actual returns	1,000.00	1,070.10	0.51	0.10%
	Hypothetical example	1,000.00	1,024.30	0.50	0.10%
Managed Volatility Moderate Portfolio
Series I	Actual expenses/actual returns	$1,000.00	$1,055.90	$0.71	0.14%
	Hypothetical example	1,000.00	1,024.10	0.70	0.14%
Series II	Actual expenses/actual returns	1,000.00	1,055.60	1.73	0.34%
	Hypothetical example	1,000.00	1,023.10	1.71	0.34%
Series NAV	Actual expenses/actual returns	1,000.00	1,055.90	0.46	0.09%
	Hypothetical example	1,000.00	1,024.30	0.45	0.09%

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John Hancock Variable Insurance Trust

Shareholder expense example

		Account value on 1-1-2021	Ending value on 6-30-2021	Expenses paid during period ended 6-30-2021¹	Annualized expense ratio²
Managed Volatility Conservative Portfolio
Series I	Actual expenses/actual returns	$1,000.00	$1,023.20	$0.75	0.15%
	Hypothetical example	1,000.00	1,024.10	0.75	0.15%
Series II	Actual expenses/actual returns	1,000.00	1,021.70	1.75	0.35%
	Hypothetical example	1,000.00	1,023.10	1.76	0.35%
Series NAV	Actual expenses/actual returns	1,000.00	1,023.20	0.50	0.10%
	Hypothetical example	1,000.00	1,024.30	0.50	0.10%

¹	Expenses are equal to the annualized expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period).
²	Ratios do not include expenses indirectly incurred by the underlying funds and can vary based on the mix of underlying funds held by the portfolios.

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John Hancock Variable Insurance Trust

Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Managed Volatility Growth Portfolio

		Shares or Principal Amount	Value
AFFILIATED INVESTMENT COMPANIES (A) - 97.0%
Equity - 68.2%
Blue Chip Growth, Series NAV, JHVIT (T. Rowe Price)		8,141,085	$	368,546,905
Emerging Markets Equity, Class NAV, JHIT (MIM US) (B)		23,170,369		364,238,204
Equity Income, Series NAV, JHVIT (T. Rowe Price)		25,814,929		418,459,994
Fundamental Large Cap Core, Class NAV, JHIT (MIM US) (B)		6,687,778		505,662,862
Mid Cap Stock, Series NAV, JHVIT (Wellington)		4,558,759		131,748,138
Mid Value, Series NAV, JHVIT (T. Rowe Price)		11,621,855		140,392,003
Multifactor Developed International ETF, JHETF (DFA)		6,662,886		224,805,774
Multifactor Emerging Markets ETF, JHETF (DFA)		4,897,104		155,166,699
Multifactor Mid Cap ETF, JHETF (DFA)		3,280,957		170,084,811
Multifactor Small Cap ETF, JHETF (DFA)		4,514,404		157,462,412
Small Cap Growth, Class NAV, JHF II (Redwood)		2,194,767		58,468,606
Small Cap Value, Series NAV, JHVIT (Wellington)		4,860,331		85,687,637
Strategic Equity Allocation, Series NAV, JHVIT (MIM US) (B)		97,776,274		2,322,186,513
				5,102,910,558
Fixed income - 28.8%
Bond, Class NAV, JHSB (MIM US) (B)		33,422,017		551,129,060
Core Bond, Series NAV, JHVIT (Wells Capital)		13,793,187		192,001,163
Select Bond, Series NAV, JHVIT (MIM US) (B)		97,943,062		1,414,297,819
				2,157,428,042
TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $5,769,117,277)			$	7,260,338,600
UNAFFILIATED INVESTMENT COMPANIES - 2.1%
Equity - 2.1%
Fidelity 500 Index Fund		720,089		107,718,168
Fidelity International Index Fund		1,023,202		50,730,373
TOTAL UNAFFILIATED INVESTMENT COMPANIES (Cost $138,991,651)			$	158,448,541
U.S. GOVERNMENT AND AGENCY OBLIGATIONS - 0.1%
U.S. Government Agency - 0.1%
Federal Agricultural Mortgage Corp. 0.076%, (3 month LIBOR - 0.100%), 01/25/2022 (C)	$	7,500,000		7,499,328
TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $7,500,357)			$	7,499,328

Managed Volatility Growth Portfolio (continued)

		Shares or Principal Amount	Value
SHORT-TERM INVESTMENTS - 0.4%
Commercial paper - 0.2%
PSP Capital, Inc. 0.040%, 08/20/2021 *	$	3,100,000	$	3,099,649
Salt River Project Agricultural Improvement & Power District 0.070%, 08/17/2021 *		2,000,000		1,999,755
The Toronto-Dominion Bank 0.030%, 08/02/2021 *		1,500,000		1,499,876
Yale University 0.060%, 08/17/2021 *		5,000,000		4,999,467
				11,598,747
U.S. Government Agency - 0.0%
Federal Home Loan Bank Discount Note 0.008%, 07/28/2021 *		3,000,000		2,999,933
Short-term funds - 0.2%
State Street Institutional U.S. Government Money Market Fund, Premier Class, 0.0250% (D)		12,557,809		12,557,809
TOTAL SHORT-TERM INVESTMENTS (Cost $27,157,004)			$	27,156,489
Total Investments (Managed Volatility Growth Portfolio) (Cost $5,942,766,289) - 99.6%			$	7,453,442,958
Other assets and liabilities, net - 0.4%				32,238,840
TOTAL NET ASSETS - 100.0%			$	7,485,681,798

Security Abbreviations and Legend
JHETF	John Hancock Exchange-Traded Fund Trust
JHF II	John Hancock Funds II
JHIT	John Hancock Investment Trust
JHSB	John Hancock Sovereign Bond Fund
JHVIT	John Hancock Variable Insurance Trust
LIBOR	London Interbank Offered Rate
(A)	The underlying portfolios' subadvisor is shown parenthetically.
(B)	The subadvisor is an affiliate of the advisor.
(C)	Variable rate obligation. The coupon rate shown represents the rate at period end.
(D)	The rate shown is the annualized seven-day yield as of 6-30-21.
*	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.

DERIVATIVES

FUTURES

Open contracts	Number of contracts	Position	Expiration date	Notional basis^	Notional value^	Unrealized appreciation (depreciation)
Euro Currency Futures	272	Long	Sep 2021	$41,473,967	$40,341,000	$(1,132,967)
Euro STOXX 50 Index Futures	844	Long	Sep 2021	41,249,163	40,586,353	(662,810)
FTSE 100 Index Futures	135	Long	Sep 2021	13,239,294	13,035,769	(203,525)
Japanese Yen Currency Futures	193	Long	Sep 2021	22,058,196	21,729,388	(328,808)
MSCI Emerging Markets Index Futures	866	Long	Sep 2021	59,460,054	59,095,840	(364,214)
Nikkei 225 Index Futures	84	Long	Sep 2021	21,905,953	21,745,713	(160,240)
Pound Sterling Currency Futures	151	Long	Sep 2021	13,390,729	13,028,469	(362,260)
Russell 2000 E-Mini Index Futures	162	Long	Sep 2021	18,879,520	18,693,180	(186,340)
S&P 500 Index E-Mini Futures	1,184	Long	Sep 2021	250,710,722	253,885,120	3,174,398

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

Table of Contents

John Hancock Variable Insurance Trust

Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Managed Volatility Growth Portfolio (continued)
FUTURES (continued)

Open contracts	Number of contracts	Position	Expiration date	Notional basis^	Notional value^	Unrealized appreciation (depreciation)
S&P Mid 400 Index E-Mini Futures	174	Long	Sep 2021	$47,742,577	$46,847,760	$(894,817)
						$(1,121,583)

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

See Notes to financial statements regarding investment transactions and other derivatives information.

Managed Volatility Balanced Portfolio

		Shares or Principal Amount	Value
AFFILIATED INVESTMENT COMPANIES (A) - 97.4%
Equity - 48.2%
Blue Chip Growth, Series NAV, JHVIT (T. Rowe Price)		5,267,112	$	238,442,180
Emerging Markets Equity, Class NAV, JHIT (MIM US) (B)		11,185,768		175,840,280
Equity Income, Series NAV, JHVIT (T. Rowe Price)		16,923,520		274,330,259
Fundamental Large Cap Core, Class NAV, JHIT (MIM US) (B)		3,938,303		297,775,057
Mid Cap Stock, Series NAV, JHVIT (Wellington)		2,032,674		58,744,292
Mid Value, Series NAV, JHVIT (T. Rowe Price)		5,401,884		65,254,761
Multifactor Developed International ETF, JHETF (DFA)		3,035,462		102,416,488
Multifactor Emerging Markets ETF, JHETF (DFA)		2,376,571		75,302,603
Multifactor Mid Cap ETF, JHETF (DFA)		1,871,244		97,005,289
Multifactor Small Cap ETF, JHETF (DFA)		2,150,173		74,998,034
Small Cap Growth, Class NAV, JHF II (Redwood)		1,237,518		32,967,468
Small Cap Value, Series NAV, JHVIT (Wellington)		3,148,326		55,504,996
Strategic Equity Allocation, Series NAV, JHVIT (MIM US) (B)		54,795,317		1,301,388,774
				2,849,970,481
Fixed income - 49.2%
Bond, Class NAV, JHSB (MIM US) (B)		45,209,020		745,496,739
Core Bond, Series NAV, JHVIT (Wells Capital)		18,623,008		259,232,272
Select Bond, Series NAV, JHVIT (MIM US) (B)		131,758,119		1,902,587,232
				2,907,316,243
TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $4,831,239,838)			$	5,757,286,724
UNAFFILIATED INVESTMENT COMPANIES - 1.7%
Equity - 1.7%
Fidelity 500 Index Fund		656,357		98,184,423
TOTAL UNAFFILIATED INVESTMENT COMPANIES (Cost $81,975,623)			$	98,184,423
U.S. GOVERNMENT AND AGENCY OBLIGATIONS - 0.1%
U.S. Government Agency - 0.1%
Federal Agricultural Mortgage Corp. 0.076%, (3 month LIBOR - 0.100%), 01/25/2022 (C)	$	7,500,000		7,499,328
TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $7,500,275)			$	7,499,328

Managed Volatility Balanced Portfolio (continued)

		Shares or Principal Amount	Value
SHORT-TERM INVESTMENTS - 0.4%
Commercial paper - 0.2%
Lime Funding LLC 0.140%, 07/08/2021 *	$	1,000,000	$	999,982
Salt River Project Agricultural Improvement & Power District
0.060%, 08/04/2021 *		3,000,000		2,999,685
0.070%, 08/17/2021 *		3,000,000		2,999,633
Swedbank 0.030%, 07/08/2021 *		1,500,000		1,499,973
Yale University 0.060%, 08/17/2021 *		2,000,000		1,999,787
				10,499,060
U.S. Government Agency - 0.1%
Federal Home Loan Bank Discount Note 0.008%, 07/28/2021 *		4,000,000		3,999,910
Short-term funds - 0.1%
State Street Institutional U.S. Government Money Market Fund, Premier Class, 0.0250% (D)		7,488,304		7,488,304
TOTAL SHORT-TERM INVESTMENTS (Cost $21,987,643)			$	21,987,274
Total Investments (Managed Volatility Balanced Portfolio) (Cost $4,942,703,379) - 99.6%			$	5,884,957,749
Other assets and liabilities, net - 0.4%				22,318,360
TOTAL NET ASSETS - 100.0%			$	5,907,276,109

Security Abbreviations and Legend
JHETF	John Hancock Exchange-Traded Fund Trust
JHF II	John Hancock Funds II
JHIT	John Hancock Investment Trust
JHSB	John Hancock Sovereign Bond Fund
JHVIT	John Hancock Variable Insurance Trust
LIBOR	London Interbank Offered Rate
(A)	The underlying portfolios' subadvisor is shown parenthetically.
(B)	The subadvisor is an affiliate of the advisor.
(C)	Variable rate obligation. The coupon rate shown represents the rate at period end.
(D)	The rate shown is the annualized seven-day yield as of 6-30-21.
*	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.

Table of Contents

John Hancock Variable Insurance Trust

Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Managed Volatility Balanced Portfolio (continued)

DERIVATIVES

FUTURES

Open contracts	Number of contracts	Position	Expiration date	Notional basis^	Notional value^	Unrealized appreciation (depreciation)
Euro Currency Futures	156	Long	Sep 2021	$23,711,013	$23,136,750	$(574,263)
Euro STOXX 50 Index Futures	478	Long	Sep 2021	23,338,995	22,986,110	(352,885)
FTSE 100 Index Futures	75	Long	Sep 2021	7,337,416	7,242,094	(95,322)
Japanese Yen Currency Futures	107	Long	Sep 2021	12,217,544	12,046,863	(170,681)
MSCI Emerging Markets Index Futures	457	Long	Sep 2021	31,250,563	31,185,680	(64,883)
Nikkei 225 Index Futures	46	Long	Sep 2021	11,958,020	11,908,367	(49,653)
Pound Sterling Currency Futures	84	Long	Sep 2021	7,426,831	7,247,625	(179,206)
Russell 2000 E-Mini Index Futures	93	Long	Sep 2021	10,797,877	10,731,270	(66,607)
S&P 500 Index E-Mini Futures	749	Long	Sep 2021	158,428,871	160,608,070	2,179,199
S&P Mid 400 Index E-Mini Futures	102	Long	Sep 2021	27,842,645	27,462,480	(380,165)
						$245,534

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

See Notes to financial statements regarding investment transactions and other derivatives information.

Managed Volatility Moderate Portfolio

	Shares or Principal Amount	Value
AFFILIATED INVESTMENT COMPANIES (A) - 97.4%
Equity - 38.1%
Blue Chip Growth, Series NAV, JHVIT (T. Rowe Price)	1,295,222	$	58,634,711
Emerging Markets Equity, Class NAV, JHIT (MIM US) (B)	2,043,314		32,120,900
Equity Income, Series NAV, JHVIT (T. Rowe Price)	4,354,808		70,591,438
Fundamental Large Cap Core, Class NAV, JHIT (MIM US) (B)	944,862		71,440,979
Mid Cap Stock, Series NAV, JHVIT (Wellington)	555,552		16,055,445
Mid Value, Series NAV, JHVIT (T. Rowe Price)	1,361,962		16,452,507
Multifactor Developed International ETF, JHETF (DFA)	445,412		15,028,201
Multifactor Emerging Markets ETF, JHETF (DFA)	436,914		13,843,795
Multifactor Mid Cap ETF, JHETF (DFA)	241,876		12,538,852
Multifactor Small Cap ETF, JHETF (DFA)	293,689		10,243,872
Small Cap Growth, Class NAV, JHF II (Redwood)	288,762		7,692,629
Small Cap Value, Series NAV, JHVIT (Wellington)	655,356		11,553,931
Strategic Equity Allocation, Series NAV, JHVIT (MIM US) (B)	12,739,862		302,571,734
			638,768,994
Fixed income - 59.3%
Bond, Class NAV, JHSB (MIM US) (B)	15,439,348		254,594,851
Core Bond, Series NAV, JHVIT (Wells Capital)	6,361,070		88,546,092
Select Bond, Series NAV, JHVIT (MIM US) (B)	45,040,726		650,388,079
			993,529,022
TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $1,409,216,463)		$	1,632,298,016
UNAFFILIATED INVESTMENT COMPANIES - 1.7%
Equity - 1.7%
Fidelity 500 Index Fund	191,853		28,699,335
TOTAL UNAFFILIATED INVESTMENT COMPANIES (Cost $23,349,735)		$	28,699,335

Managed Volatility Moderate Portfolio (continued)

		Shares or Principal Amount	Value
U.S. GOVERNMENT AND AGENCY OBLIGATIONS - 0.2%
U.S. Government Agency - 0.2%
Federal Home Loan Bank 0.080%, (1 month LIBOR + 0.005%), 08/16/2021 (C)	$	3,000,000	$	3,000,023
TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $3,000,450)			$	3,000,023
SHORT-TERM INVESTMENTS - 0.4%
Commercial paper - 0.2%
The University of Chicago 0.030%, 07/15/2021 *		1,000,000		999,976
Yale University 0.060%, 08/17/2021 *		1,900,000		1,899,797
				2,899,773
U.S. Government Agency - 0.1%
Federal Home Loan Bank Discount Note 0.008%, 07/28/2021 *		1,000,000		999,978
Short-term funds - 0.1%
State Street Institutional U.S. Government Money Market Fund, Premier Class, 0.0250% (D)		2,076,613		2,076,613
TOTAL SHORT-TERM INVESTMENTS (Cost $5,976,446)			$	5,976,364
Total Investments (Managed Volatility Moderate Portfolio) (Cost $1,441,543,094) - 99.7%			$	1,669,973,738
Other assets and liabilities, net - 0.3%				5,431,084
TOTAL NET ASSETS - 100.0%			$	1,675,404,822

Security Abbreviations and Legend
JHETF	John Hancock Exchange-Traded Fund Trust
JHF II	John Hancock Funds II
JHIT	John Hancock Investment Trust
JHSB	John Hancock Sovereign Bond Fund
JHVIT	John Hancock Variable Insurance Trust
LIBOR	London Interbank Offered Rate
(A)	The underlying portfolios' subadvisor is shown parenthetically.
(B)	The subadvisor is an affiliate of the advisor.
(C)	Variable rate obligation. The coupon rate shown represents the rate at period end.
(D)	The rate shown is the annualized seven-day yield as of 6-30-21.

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

Table of Contents

John Hancock Variable Insurance Trust

Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Managed Volatility Moderate Portfolio (continued)

*	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.

DERIVATIVES

FUTURES

Open contracts	Number of contracts	Position	Expiration date	Notional basis^	Notional value^	Unrealized appreciation (depreciation)
Euro Currency Futures	35	Long	Sep 2021	$5,317,022	$5,190,938	$(126,084)
Euro STOXX 50 Index Futures	107	Long	Sep 2021	5,223,702	5,145,426	(78,276)
FTSE 100 Index Futures	16	Long	Sep 2021	1,564,574	1,544,980	(19,594)
Japanese Yen Currency Futures	23	Long	Sep 2021	2,625,601	2,589,513	(36,088)
MSCI Emerging Markets Index Futures	91	Long	Sep 2021	6,222,983	6,209,840	(13,143)
Nikkei 225 Index Futures	10	Long	Sep 2021	2,603,089	2,588,775	(14,314)
Pound Sterling Currency Futures	18	Long	Sep 2021	1,591,096	1,553,063	(38,033)
Russell 2000 E-Mini Index Futures	20	Long	Sep 2021	2,321,490	2,307,800	(13,690)
S&P 500 Index E-Mini Futures	185	Long	Sep 2021	39,123,359	39,669,550	546,191
S&P Mid 400 Index E-Mini Futures	22	Long	Sep 2021	6,001,211	5,923,280	(77,931)
						$129,038

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

See Notes to financial statements regarding investment transactions and other derivatives information.

Managed Volatility Conservative Portfolio

	Shares or Principal Amount	Value
AFFILIATED INVESTMENT COMPANIES (A) - 98.5%
Equity - 19.1%
Blue Chip Growth, Series NAV, JHVIT (T. Rowe Price)	407,069	$	18,428,030
Emerging Markets Equity, Class NAV, JHIT (MIM US) (B)	573,782		9,019,853
Equity Income, Series NAV, JHVIT (T. Rowe Price)	1,373,589		22,265,886
Fundamental Large Cap Core, Class NAV, JHIT (MIM US) (B)	267,972		20,261,392
Multifactor Developed International ETF, JHETF (DFA)	12,290		414,665
Multifactor Emerging Markets ETF, JHETF (DFA)	119,556		3,788,180
Multifactor Mid Cap ETF, JHETF (DFA)	229,398		11,891,992
Multifactor Small Cap ETF, JHETF (DFA)	260,033		9,069,951
Strategic Equity Allocation, Series NAV, JHVIT (MIM US) (B)	3,546,254		84,223,534
			179,363,483
Fixed income - 79.4%
Bond, Class NAV, JHSB (MIM US) (B)	11,604,800		191,363,149
Core Bond, Series NAV, JHVIT (Wells Capital)	4,765,720		66,338,822
Select Bond, Series NAV, JHVIT (MIM US) (B)	33,759,838		487,492,061
			745,194,032
TOTAL AFFILIATED INVESTMENT COMPANIES (Cost $835,868,200)		$	924,557,515
UNAFFILIATED INVESTMENT COMPANIES - 0.8%
Equity - 0.8%
Fidelity 500 Index Fund	52,410		7,840,077
TOTAL UNAFFILIATED INVESTMENT COMPANIES (Cost $6,365,171)		$	7,840,077

Managed Volatility Conservative Portfolio (continued)

		Shares or Principal Amount	Value
U.S. GOVERNMENT AND AGENCY OBLIGATIONS - 0.2%
U.S. Government Agency - 0.2%
Federal Home Loan Bank 0.080%, (1 month LIBOR + 0.005%), 08/16/2021 (C)	$	2,000,000	$	2,000,015
TOTAL U.S. GOVERNMENT AND AGENCY OBLIGATIONS (Cost $2,000,300)			$	2,000,015
SHORT-TERM INVESTMENTS - 0.3%
Commercial paper - 0.2%
The University of California 0.040%, 08/17/2021 *		2,000,000		1,999,862
Short-term funds - 0.1%
State Street Institutional U.S. Government Money Market Fund, Premier Class, 0.0250% (D)		646,660		646,660
TOTAL SHORT-TERM INVESTMENTS (Cost $2,646,556)			$	2,646,522
Total Investments (Managed Volatility Conservative Portfolio) (Cost $846,880,227) - 99.8%			$	937,044,129
Other assets and liabilities, net - 0.2%				2,001,687
TOTAL NET ASSETS - 100.0%			$	939,045,816

Security Abbreviations and Legend
JHETF	John Hancock Exchange-Traded Fund Trust
JHIT	John Hancock Investment Trust
JHSB	John Hancock Sovereign Bond Fund
JHVIT	John Hancock Variable Insurance Trust
LIBOR	London Interbank Offered Rate
(A)	The underlying portfolios' subadvisor is shown parenthetically.
(B)	The subadvisor is an affiliate of the advisor.
(C)	Variable rate obligation. The coupon rate shown represents the rate at period end.
(D)	The rate shown is the annualized seven-day yield as of 6-30-21.
*	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.

Table of Contents

John Hancock Variable Insurance Trust

Portfolio of Investments — June 30, 2021 (unaudited) (showing percentage of total net assets)

Managed Volatility Conservative Portfolio (continued)

DERIVATIVES

FUTURES

Open contracts	Number of contracts	Position	Expiration date	Notional basis^	Notional value^	Unrealized appreciation (depreciation)
Euro Currency Futures	7	Long	Sep 2021	$1,057,494	$1,038,188	$(19,306)
Euro STOXX 50 Index Futures	23	Long	Sep 2021	1,122,143	1,106,026	(16,117)
FTSE 100 Index Futures	3	Long	Sep 2021	292,676	289,684	(2,992)
Japanese Yen Currency Futures	4	Long	Sep 2021	456,391	450,350	(6,041)
MSCI Emerging Markets Index Futures	20	Long	Sep 2021	1,364,835	1,364,800	(35)
Nikkei 225 Index Futures	2	Long	Sep 2021	521,570	517,755	(3,815)
Pound Sterling Currency Futures	3	Long	Sep 2021	264,325	258,844	(5,481)
Russell 2000 E-Mini Index Futures	4	Long	Sep 2021	463,056	461,560	(1,496)
S&P 500 Index E-Mini Futures	45	Long	Sep 2021	9,508,701	9,649,350	140,649
S&P Mid 400 Index E-Mini Futures	6	Long	Sep 2021	1,628,630	1,615,440	(13,190)
						$72,176

^ Notional basis refers to the contractual amount agreed upon at inception of open contracts; notional value represents the current value of the open contract.

See Notes to financial statements regarding investment transactions and other derivatives information.

Investment companies

Subadvisors of Affiliated Underlying Funds
Dimensional Fund Advisors, LP	(DFA)
Manulife Investment Management (US) LLC	(MIM US)
Redwood Investments, LLC	(Redwood)
T. Rowe Price Associates, Inc.	(T. Rowe Price)
Wellington Management Company, LLP	(Wellington)
Wells Capital Management, Incorporated	(Wells Capital)

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

Table of Contents

John Hancock Variable Insurance Trust

Statements of assets and liabilities — June 30, 2021 (unaudited)

Assets	Managed Volatility Growth Portfolio	Managed Volatility Balanced Portfolio	Managed Volatility Moderate Portfolio	Managed Volatility Conservative Portfolio
Unaffiliated investments, at value	$193,104,358	$127,671,025	$37,675,722	$12,486,614
Affiliated investments, at value	7,260,338,600	5,757,286,724	1,632,298,016	924,557,515
Total investments, at value	7,453,442,958	5,884,957,749	1,669,973,738	937,044,129
Foreign currency, at value	6,755,973	4,214,721	871,729	216,102
Collateral held at broker for futures contracts	27,250,000	19,000,000	4,720,000	1,870,000
Dividends and interest receivable	1,517,073	1,936,820	655,322	488,126
Receivable for fund shares sold	—	—	54,269	76,226
Receivable for investments sold	3,447,272	3,902,835	185,960	1,286,187
Other assets	155,384	122,309	37,366	23,304
Total assets	7,492,568,660	5,914,134,434	1,676,498,384	941,004,074
Liabilities
Payable for futures variation margin	700,909	351,364	66,019	10,769
Due to custodian	—	—	377	1,400
Payable for investments purchased	2,145,697	2,374,967	640,413	482,904
Payable for fund shares repurchased	3,382,921	3,672,076	226,519	1,353,583
Payable to affiliates
Accounting and legal services fees	318,932	244,459	69,444	39,365
Other liabilities and accrued expenses	338,403	215,459	90,790	70,237
Total liabilities	6,886,862	6,858,325	1,093,562	1,958,258
Net assets	$7,485,681,798	$5,907,276,109	$1,675,404,822	$939,045,816
Net assets consist of
Paid-in capital	$6,413,997,532	$5,187,311,827	$1,498,043,287	$882,571,276
Total distributable earnings (loss)	1,071,684,266	719,964,282	177,361,535	56,474,540
Net assets	$7,485,681,798	$5,907,276,109	$1,675,404,822	$939,045,816
Unaffiliated investments, at cost	$173,649,012	$111,463,541	$32,326,631	$11,012,027
Affiliated investments, at cost	$5,769,117,277	$4,831,239,838	$1,409,216,463	$835,868,200
Foreign currency, at cost	$6,857,541	$4,293,980	$888,247	$220,216
Net asset value per share
The portfolios have an unlimited number of shares authorized with par value of $0.01 per share. Net asset value is calculated by dividing the net assets of each class of shares by the number of outstanding shares in the class.
Series I
Net assets	$610,677,356	$490,694,493	$204,385,677	$153,048,281
Shares outstanding	46,518,824	39,361,730	16,925,033	12,875,453
Net asset value, offering price and redemption price per share	$13.13	$12.47	$12.08	$11.89
Series II
Net assets	$5,816,040,440	$4,153,218,983	$1,331,697,996	$723,879,461
Shares outstanding	445,331,544	336,054,443	111,297,861	61,479,026
Net asset value, offering price and redemption price per share	$13.06	$12.36	$11.97	$11.77
Series NAV
Net assets	$1,058,964,002	$1,263,362,633	$139,321,149	$62,118,074
Shares outstanding	80,506,476	100,995,298	11,520,201	5,210,093
Net asset value, offering price and redemption price per share	$13.15	$12.51	$12.09	$11.92

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

Table of Contents

John Hancock Variable Insurance Trust

Statements of operations — For the six months ended June 30, 2021 (unaudited)

Investment income	Managed Volatility Growth Portfolio	Managed Volatility Balanced Portfolio	Managed Volatility Moderate Portfolio	Managed Volatility Conservative Portfolio
Dividends from affiliated investments	$14,393,030	$14,358,684	$4,369,989	$3,125,595
Dividends from unaffiliated investments	417,339	288,994	84,451	24,668
Interest	21,283	16,097	5,245	3,003
Total investment income	14,831,652	14,663,775	4,459,685	3,153,266
Expenses
Investment management fees	6,709,799	5,109,185	1,377,771	801,023
Distribution and service fees	7,445,664	5,364,931	1,733,897	974,505
Accounting and legal services fees	485,741	387,013	109,903	62,127
Trustees' fees	72,404	59,030	16,973	9,857
Custodian fees	17,884	17,152	17,123	17,366
Printing and postage	49,080	43,187	16,467	12,296
Professional fees	81,751	70,578	30,866	24,401
Other	111,306	86,537	28,622	16,760
Total expenses	14,973,629	11,137,613	3,331,622	1,918,335
Less expense reductions	(3,918,950)	(2,953,122)	(804,587)	(467,295)
Net expenses	11,054,679	8,184,491	2,527,035	1,451,040
Net investment income	3,776,973	6,479,284	1,932,650	1,702,226
Realized and unrealized gain (loss)
Net realized gain (loss) on
Unaffiliated investments and foreign currency transactions	1,794,666	4,154,695	1,350,656	480,341
Affiliated investments	218,483,476	146,707,680	39,784,589	16,050,741
Futures contracts	(5,362,767)	35,465,633	11,704,921	3,772,483
	214,915,375	186,328,008	52,840,166	20,303,565
Change in net unrealized appreciation (depreciation) of
Unaffiliated investments and translation of assets and liabilities in foreign currencies	12,930,991	6,883,854	2,010,134	456,350
Affiliated investments	406,192,134	201,456,020	35,396,476	(1,228,747)
Futures contracts	(7,377,152)	(5,426,464)	(1,213,973)	(367,779)
	411,745,973	202,913,410	36,192,637	(1,140,176)
Net realized and unrealized gain (loss)	626,661,348	389,241,418	89,032,803	19,163,389
Increase in net assets from operations	$630,438,321	$395,720,702	$90,965,453	$20,865,615

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

Table of Contents

John Hancock Variable Insurance Trust

Statements of changes in net assets

	Managed Volatility Growth Portfolio		Managed Volatility Balanced Portfolio		Managed Volatility Moderate Portfolio
Increase (decrease) in net assets	Six months ended 6-30-21 (unaudited)	Year ended 12-31-20	Six months ended 6-30-21 (unaudited)	Year ended 12-31-20	Six months ended 6-30-21 (unaudited)	Year ended 12-31-20
From operations
Net investment income	$3,776,973	$114,041,111	$6,479,284	$117,870,020	$1,932,650	$36,583,564
Net realized gain (loss)	214,915,375	(602,778,222)	186,328,008	(364,942,505)	52,840,166	(91,822,127)
Change in net unrealized appreciation (depreciation)	411,745,973	283,548,062	202,913,410	301,405,870	36,192,637	98,618,295
Increase (decrease) in net assets resulting from operations	630,438,321	(205,189,049)	395,720,702	54,333,385	90,965,453	43,379,732
Distributions to shareholders
From earnings
Series I	—	(42,879,993)	—	(37,912,138)	—	(15,203,973)
Series II	—	(458,312,536)	—	(321,920,292)	—	(97,917,019)
Series NAV	—	(60,339,840)	—	(91,761,085)	—	(9,895,427)
Total distributions	—	(561,532,369)	—	(451,593,515)	—	(123,016,419)
From portfolio share transactions
Portfolio share transactions	(694,848,759)	(592,255,161)	(491,259,876)	(373,811,019)	(141,499,602)	(117,606,330)
Issued in reorganization	348,985,371	—	—	—	—	—
Total from portfolio share transactions	(345,863,388)	(592,255,161)	(491,259,876)	(373,811,019)	(141,499,602)	(117,606,330)
Total increase (decrease)	284,574,933	(1,358,976,579)	(95,539,174)	(771,071,149)	(50,534,149)	(197,243,017)
Net assets
Beginning of period	7,201,106,865	8,560,083,444	6,002,815,283	6,773,886,432	1,725,938,971	1,923,181,988
End of period	$7,485,681,798	$7,201,106,865	$5,907,276,109	$6,002,815,283	$1,675,404,822	$1,725,938,971

	Managed Volatility Conservative Portfolio
Increase (decrease) in net assets	Six months ended 6-30-21 (unaudited)	Year ended 12-31-20
From operations
Net investment income	$1,702,226	$24,959,928
Net realized gain (loss)	20,303,565	(46,843,130)
Change in net unrealized appreciation (depreciation)	(1,140,176)	51,671,293
Increase (decrease) in net assets resulting from operations	20,865,615	29,788,091
Distributions to shareholders
From earnings
Series I	—	(6,678,632)
Series II	—	(33,603,380)
Series NAV	—	(2,588,280)
Total distributions	—	(42,870,292)
From portfolio share transactions
Portfolio share transactions	(88,134,134)	(90,955,045)
Issued in reorganization	—	—
Total from portfolio share transactions	(88,134,134)	(90,955,045)
Total increase (decrease)	(67,268,519)	(104,037,246)
Net assets
Beginning of period	1,006,314,335	1,110,351,581
End of period	$939,045,816	$1,006,314,335

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

Table of Contents

John Hancock Variable Insurance Trust

Financial highlights

Per share operating performance for a share outstanding throughout each period												Ratios and supplemental data
		Income (loss) from investment operations				Less distributions						Ratios to average net assets
Period ended	Net asset value, beginning of period ($)	Net investment income (loss) ($)^{1, 2}	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)³	Expenses before reductions (%)⁴	Expenses including reductions (%)⁴	Net investment income (loss) (%)²	Net assets, end of period (in millions)	Portfolio turnover (%)
Managed Volatility Growth Portfolio
Series I
06-30-2021⁵	12.03	0.02	1.08	1.10	—	—	—	13.13	9.14⁶	0.26⁷	0.15⁷	0.27⁷	611	5⁸
12-31-2020	13.28	0.21	(0.46)	(0.25)	(0.24)	(0.76)	(1.00)	12.03	(1.42)	0.28	0.15	1.75	545	13
12-31-2019	12.20	0.24	2.06	2.30	(0.21)	(1.01)	(1.22)	13.28	19.56	0.27	0.13	1.85	627	8
12-31-2018	14.55	0.24	(1.08)	(0.84)	(0.23)	(1.28)	(1.51)	12.20	(6.54)	0.15	0.10	1.67	591	37
12-31-2017	12.99	0.23	2.14	2.37	(0.24)	(0.57)	(0.81)	14.55	18.59	0.13	0.09	1.67	709	9
12-31-2016	13.17	0.22	0.23	0.45	(0.23)	(0.40)	(0.63)	12.99	3.34	0.12	0.10	1.72	676	26
Series II
06-30-2021⁵	11.98	—⁹	1.08	1.08	—	—	—	13.06	9.02⁶	0.46⁷	0.35⁷	0.05⁷	5,816	5⁸
12-31-2020	13.23	0.18	(0.46)	(0.28)	(0.21)	(0.76)	(0.97)	11.98	(1.60)	0.48	0.35	1.53	5,886	13
12-31-2019	12.16	0.21	2.06	2.27	(0.19)	(1.01)	(1.20)	13.23	19.32	0.47	0.33	1.64	7,116	8
12-31-2018	14.51	0.21	(1.07)	(0.86)	(0.21)	(1.28)	(1.49)	12.16	(6.70)	0.35	0.30	1.45	6,931	37
12-31-2017	12.95	0.20	2.14	2.34	(0.21)	(0.57)	(0.78)	14.51	18.35	0.33	0.29	1.46	8,532	9
12-31-2016	13.14	0.19	0.22	0.41	(0.20)	(0.40)	(0.60)	12.95	3.15	0.32	0.30	1.49	8,177	26
Series NAV
06-30-2021⁵	12.05	0.02	1.08	1.10	—	—	—	13.15	9.13⁶	0.21⁷	0.10⁷	0.34⁷	1,059	5⁸
12-31-2020	13.30	0.22	(0.47)	(0.25)	(0.24)	(0.76)	(1.00)	12.05	(1.37)	0.23	0.10	1.85	769	13
12-31-2019	12.21	0.26	2.06	2.32	(0.22)	(1.01)	(1.23)	13.30	19.68	0.22	0.08	1.95	817	8
12-31-2018	14.57	0.25	(1.09)	(0.84)	(0.24)	(1.28)	(1.52)	12.21	(6.55)	0.10	0.05	1.76	703	37
12-31-2017	13.00	0.25	2.14	2.39	(0.25)	(0.57)	(0.82)	14.57	18.71	0.08	0.04	1.77	778	9
12-31-2016	13.19	0.24	0.21	0.45	(0.24)	(0.40)	(0.64)	13.00	3.38	0.07	0.05	1.81	677	26
1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-21. Unaudited. 6. Not annualized. 7. Annualized. 8. Excludes merger activity. 9. Less than $0.005 per share.
Managed Volatility Balanced Portfolio
Series I
06-30-2021⁵	11.66	0.02	0.79	0.81	—	—	—	12.47	6.95⁶	0.25⁷	0.15⁷	0.35⁷	491	4
12-31-2020	12.41	0.25	(0.07)	0.18	(0.27)	(0.66)	(0.93)	11.66	1.81	0.26	0.15	2.11	498	12
12-31-2019	11.23	0.25	1.73	1.98	(0.23)	(0.57)	(0.80)	12.41	17.92	0.26	0.13	2.07	556	8
12-31-2018	12.96	0.25	(0.82)	(0.57)	(0.25)	(0.91)	(1.16)	11.23	(4.89)	0.15	0.10	1.95	531	36
12-31-2017	12.05	0.24	1.44	1.68	(0.25)	(0.52)	(0.77)	12.96	14.13	0.13	0.09	1.91	642	7
12-31-2016	12.24	0.24	0.35	0.59	(0.25)	(0.53)	(0.78)	12.05	4.79	0.12	0.09	1.97	629	17
Series II
06-30-2021⁵	11.57	0.01	0.78	0.79	—	—	—	12.36	6.83⁶	0.45⁷	0.35⁷	0.15⁷	4,153	4
12-31-2020	12.33	0.22	(0.08)	0.14	(0.24)	(0.66)	(0.90)	11.57	1.55	0.46	0.35	1.89	4,288	12
12-31-2019	11.16	0.22	1.72	1.94	(0.20)	(0.57)	(0.77)	12.33	17.73	0.46	0.33	1.86	4,957	8
12-31-2018	12.89	0.22	(0.82)	(0.60)	(0.22)	(0.91)	(1.13)	11.16	(5.04)	0.35	0.30	1.73	4,900	36
12-31-2017	11.99	0.21	1.43	1.64	(0.22)	(0.52)	(0.74)	12.89	13.82	0.33	0.29	1.68	5,985	7
12-31-2016	12.18	0.21	0.35	0.56	(0.22)	(0.53)	(0.75)	11.99	4.61	0.32	0.29	1.75	6,054	17
Series NAV
06-30-2021⁵	11.69	0.02	0.80	0.82	—	—	—	12.51	7.01⁶	0.20⁷	0.10⁷	0.40⁷	1,263	4
12-31-2020	12.45	0.26	(0.09)	0.17	(0.27)	(0.66)	(0.93)	11.69	1.77	0.21	0.10	2.20	1,217	12
12-31-2019	11.26	0.26	1.73	1.99	(0.23)	(0.57)	(0.80)	12.45	18.02	0.21	0.08	2.16	1,261	8
12-31-2018	12.99	0.26	(0.83)	(0.57)	(0.25)	(0.91)	(1.16)	11.26	(4.82)	0.10	0.05	2.04	1,133	36
12-31-2017	12.08	0.25	1.44	1.69	(0.26)	(0.52)	(0.78)	12.99	14.15	0.08	0.04	1.99	1,272	7
12-31-2016	12.26	0.25	0.35	0.60	(0.25)	(0.53)	(0.78)	12.08	4.92	0.07	0.04	2.06	1,183	17
1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-21. Unaudited. 6. Not annualized. 7. Annualized.

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

Table of Contents

John Hancock Variable Insurance Trust

Financial highlights

Per share operating performance for a share outstanding throughout each period												Ratios and supplemental data
		Income (loss) from investment operations				Less distributions						Ratios to average net assets
Period ended	Net asset value, beginning of period ($)	Net investment income (loss) ($)^{1, 2}	Net realized and unrealized gain (loss) on investments ($)	Total from investment operations ($)	From net investment income ($)	From net realized gain ($)	Total distributions ($)	Net asset value, end of period ($)	Total return (%)³	Expenses before reductions (%)⁴	Expenses including reductions (%)⁴	Net investment income (loss) (%)²	Net assets, end of period (in millions)	Portfolio turnover (%)
Managed Volatility Moderate Portfolio
Series I
06-30-2021⁵	11.44	0.02	0.62	0.64	—	—	—	12.08	5.59⁶	0.24⁷	0.14⁷	0.39⁷	204	4
12-31-2020	11.94	0.26	0.10	0.36	(0.28)	(0.58)	(0.86)	11.44	3.31	0.25	0.14	2.29	208	11
12-31-2019	10.84	0.26	1.53	1.79	(0.24)	(0.45)	(0.69)	11.94	16.72	0.25	0.13	2.18	234	8
12-31-2018	12.33	0.26	(0.71)	(0.45)	(0.26)	(0.78)	(1.04)	10.84	(3.99)	0.14	0.09	2.12	230	35
12-31-2017	11.65	0.25	1.12	1.37	(0.26)	(0.43)	(0.69)	12.33	11.88	0.13	0.09	2.05	266	9
12-31-2016	11.72	0.25	0.38	0.63	(0.25)	(0.45)	(0.70)	11.65	5.29	0.12	0.09	2.07	259	13
Series II
06-30-2021⁵	11.34	0.01	0.62	0.63	—	—	—	11.97	5.56⁶	0.44⁷	0.34⁷	0.18⁷	1,332	4
12-31-2020	11.85	0.23	0.10	0.33	(0.26)	(0.58)	(0.84)	11.34	3.05	0.45	0.34	2.06	1,379	11
12-31-2019	10.77	0.23	1.52	1.75	(0.22)	(0.45)	(0.67)	11.85	16.43	0.45	0.33	1.97	1,552	8
12-31-2018	12.25	0.23	(0.69)	(0.46)	(0.24)	(0.78)	(1.02)	10.77	(4.12)	0.34	0.29	1.89	1,557	35
12-31-2017	11.58	0.22	1.11	1.33	(0.23)	(0.43)	(0.66)	12.25	11.65	0.33	0.29	1.80	1,891	9
12-31-2016	11.65	0.22	0.38	0.60	(0.22)	(0.45)	(0.67)	11.58	5.12	0.32	0.29	1.83	1,966	13
Series NAV
06-30-2021⁵	11.45	0.03	0.61	0.64	—	—	—	12.09	5.59⁶	0.19⁷	0.09⁷	0.44⁷	139	4
12-31-2020	11.96	0.27	0.08	0.35	(0.28)	(0.58)	(0.86)	11.45	3.27	0.20	0.09	2.38	139	11
12-31-2019	10.85	0.27	1.54	1.81	(0.25)	(0.45)	(0.70)	11.96	16.85	0.20	0.08	2.29	137	8
12-31-2018	12.34	0.26	(0.70)	(0.44)	(0.27)	(0.78)	(1.05)	10.85	(3.94)	0.09	0.04	2.15	119	35
12-31-2017	11.65	0.26	1.12	1.38	(0.26)	(0.43)	(0.69)	12.34	12.02	0.08	0.04	2.11	134	9
12-31-2016	11.73	0.26	0.36	0.62	(0.25)	(0.45)	(0.70)	11.65	5.25	0.07	0.04	2.15	116	13
1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-21. Unaudited. 6. Not annualized. 7. Annualized.
Managed Volatility Conservative Portfolio
Series I
06-30-2021⁵	11.62	0.03	0.24	0.27	—	—	—	11.89	2.32⁶	0.25⁷	0.15⁷	0.51⁷	153	2
12-31-2020	11.75	0.30	0.09	0.39	(0.33)	(0.19)	(0.52)	11.62	3.39	0.26	0.14	2.57	154	10
12-31-2019	10.61	0.29	1.13	1.42	(0.26)	(0.02)	(0.28)	11.75	13.38	0.25	0.14	2.50	166	8
12-31-2018	11.48	0.27	(0.51)	(0.24)	(0.28)	(0.35)	(0.63)	10.61	(2.18)	0.15	0.09	2.43	155	34
12-31-2017	11.12	0.26	0.60	0.86	(0.27)	(0.23)	(0.50)	11.48	7.82	0.13	0.08	2.26	177	8
12-31-2016	11.14	0.27	0.24	0.51	(0.27)	(0.26)	(0.53)	11.12	4.58	0.12	0.09	2.38	188	11
Series II
06-30-2021⁵	11.52	0.02	0.23	0.25	—	—	—	11.77	2.17⁶	0.45⁷	0.35⁷	0.31⁷	724	2
12-31-2020	11.66	0.27	0.09	0.36	(0.31)	(0.19)	(0.50)	11.52	3.13	0.46	0.34	2.36	794	10
12-31-2019	10.53	0.25	1.14	1.39	(0.24)	(0.02)	(0.26)	11.66	13.18	0.45	0.34	2.23	888	8
12-31-2018	11.40	0.25	(0.52)	(0.27)	(0.25)	(0.35)	(0.60)	10.53	(2.39)	0.35	0.29	2.19	908	34
12-31-2017	11.04	0.23	0.61	0.84	(0.25)	(0.23)	(0.48)	11.40	7.67	0.33	0.28	2.03	1,112	8
12-31-2016	11.07	0.24	0.24	0.48	(0.25)	(0.26)	(0.51)	11.04	4.31	0.32	0.29	2.10	1,236	11
Series NAV
06-30-2021⁵	11.65	0.03	0.24	0.27	—	—	—	11.92	2.32⁶	0.20⁷	0.10⁷	0.56⁷	62	2
12-31-2020	11.78	0.31	0.09	0.40	(0.34)	(0.19)	(0.53)	11.65	3.43	0.21	0.09	2.71	59	10
12-31-2019	10.64	0.29	1.14	1.43	(0.27)	(0.02)	(0.29)	11.78	13.50	0.20	0.09	2.55	56	8
12-31-2018	11.51	0.27	(0.51)	(0.24)	(0.28)	(0.35)	(0.63)	10.64	(2.21)	0.10	0.04	2.42	51	34
12-31-2017	11.14	0.32	0.56	0.88	(0.28)	(0.23)	(0.51)	11.51	7.94	0.08	0.03	2.73	64	8
12-31-2016	11.17	0.28	0.23	0.51	(0.28)	(0.26)	(0.54)	11.14	4.53	0.07	0.04	2.42	50	11
1. Based on average daily shares outstanding. 2. Net investment income is affected by the timing and frequency of the declaration of dividends by the underlying funds in which the portfolio invests. 3. Total returns exclude insurance-related fees and expenses and would have been lower had certain expenses not been reduced during the applicable periods. 4. Ratios do not include expenses indirectly incurred from underlying funds and can vary based on the mix of underlying funds held by the portfolio. 5. Six months ended 6-30-21. Unaudited. 6. Not annualized. 7. Annualized.

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

Table of Contents

John Hancock Variable Insurance Trust

Notes to financial statements (unaudited)

1. Organization

John Hancock Variable Insurance Trust (the Trust) is a no-load, open-end management investment company organized as a Massachusetts business trust. The Trust is registered under the Investment Company Act of 1940, as amended (the 1940 Act). It is a series company with multiple investment series, four of which are presented in this report (collectively, Managed Volatility Portfolios, or the portfolios and individually, the portfolio). The portfolios operate as “funds of funds” that may invest in affiliated underlying funds of the Trust, other funds in the John Hancock group of funds complex, non-John Hancock funds and certain other permitted investments.

The investment objectives of portfolios are as follows:

Managed Volatility Growth Portfolio

To seek long term growth of capital while seeking to both manage the volatility of return and limit the magnitude of portfolio losses.

Managed Volatility Balanced Portfolio

To seek growth of capital and current income while seeking to both manage the volatility of return and limit the magnitude of portfolio losses.

Managed Volatility Moderate Portfolio

To seek current income and growth of capital while seeking to both manage the volatility of return and limit the magnitude of portfolio losses.

Managed Volatility Conservative Portfolio

To seek current income and growth of capital while seeking to both manage the volatility of return and limit the magnitude of portfolio losses.

The accounting policies of the underlying funds in which the portfolios invest are outlined in the underlying funds’ shareholder reports, which include the underlying funds’ financial statements. These are available on the Securities and Exchange Commission (SEC) website at sec.gov. John Hancock underlying funds’ shareholder reports are also available without charge by calling 800-344-1029 or visiting jhannuities.com. The underlying funds are not covered by this report.

On April 23, 2021, Managed Volatility Aggressive Portfolio merged into Managed Volatility Growth Portfolio. This was a tax free merger.

2. Significant accounting policies

In order to value the securities, the portfolios use the following valuation techniques: Investments in affiliated underlying funds and/or other open-end management investment companies, other than exchange-traded funds (ETFs), are valued at their respective NAVs each business day. Equity securities, including exchange-traded or closed-end funds, are typically valued at the last sale price or official closing price on the exchange or principal market where the security trades. In the event there were no sales during the day or closing prices are not available, the securities are valued using the last available bid price. Debt obligations are typically valued based on evaluated prices provided by an independent pricing vendor. 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. Futures contracts whose settlement prices are determined as of the close of the NYSE are typically valued based on the settlement price while other futures contracts are typically valued at the last traded price on the exchange on which they trade. Foreign equity index futures that trade in the electronic trading market subsequent to the close of regular trading may be valued at the last traded price in the electronic trading market as of 4:00 p.m. ET, or may be fair valued based on fair value adjustment factors provided by an independent pricing vendor in order to adjust for events that may occur between the close of foreign exchanges or markets and the close of the NYSE. Foreign securities and currencies are valued in U.S. dollars based on foreign currency exchange rates supplied by an independent pricing vendor.

Table of Contents

The following is a summary of the values by input classification of the portfolios' investments as of June 30, 2021, by major security category or type:

	Total value at 6-30-21	Level 1 quoted price	Level 2 significant observable inputs	Level 3 significant unobservable inputs
Managed Volatility Growth Portfolio
Investments in securities:
Assets
Affiliated investment companies	$7,260,338,600	$7,260,338,600	—	—
Unaffiliated investment companies	158,448,541	158,448,541	—	—
U.S. Government and Agency obligations	7,499,328	—	$7,499,328	—
Short-term investments	27,156,489	12,557,809	14,598,680	—
Total investments in securities	$7,453,442,958	$7,431,344,950	$22,098,008	—
Derivatives:
Assets
Futures	$3,174,398	$3,174,398	—	—
Liabilities
Futures	(4,295,981)	(4,295,981)	—	—

Managed Volatility Balanced Portfolio
Investments in securities:
Assets
Affiliated investment companies	$5,757,286,724	$5,757,286,724	—	—
Unaffiliated investment companies	98,184,423	98,184,423	—	—
U.S. Government and Agency obligations	7,499,328	—	$7,499,328	—
Short-term investments	21,987,274	7,488,304	14,498,970	—
Total investments in securities	$5,884,957,749	$5,862,959,451	$21,998,298	—
Derivatives:
Assets
Futures	$2,179,199	$2,179,199	—	—
Liabilities
Futures	(1,933,665)	(1,933,665)	—	—

Managed Volatility Moderate Portfolio
Investments in securities:
Assets
Affiliated investment companies	$1,632,298,016	$1,632,298,016	—	—
Unaffiliated investment companies	28,699,335	28,699,335	—	—
U.S. Government and Agency obligations	3,000,023	—	$3,000,023	—
Short-term investments	5,976,364	2,076,613	3,899,751	—
Total investments in securities	$1,669,973,738	$1,663,073,964	$6,899,774	—
Derivatives:
Assets
Futures	$546,191	$546,191	—	—
Liabilities
Futures	(417,153)	(417,153)	—	—

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Significant accounting policies, continued

	Total value at 6-30-21	Level 1 quoted price	Level 2 significant observable inputs	Level 3 significant unobservable inputs
Managed Volatility Conservative Portfolio
Investments in securities:
Assets
Affiliated investment companies	$924,557,515	$924,557,515	—	—
Unaffiliated investment companies	7,840,077	7,840,077	—	—
U.S. Government and Agency obligations	2,000,015	—	$2,000,015	—
Short-term investments	2,646,522	646,660	1,999,862	—
Total investments in securities	$937,044,129	$933,044,252	$3,999,877	—
Derivatives:
Assets
Futures	$140,649	$140,649	—	—
Liabilities
Futures	(68,473)	(68,473)	—	—

Security transactions and related investment income. Investment security transactions are accounted for on a trade date plus one basis for daily NAV calculations. However, for financial reporting purposes, investment transactions are reported on trade date. Interest income is accrued as earned. Interest income includes coupon interest and amortization/accretion of premiums/discounts on debt securities. Debt obligations may be placed in a non-accrual status and related interest income may be reduced by stopping current accruals and writing off interest receivable when the collection of all or a portion of interest has become doubtful. Capital gain distributions from underlying funds are recorded on ex-date. Dividend income is recorded on ex-date, except for dividends of certain foreign securities where the dividend may not be known until after the ex-date. In those cases, dividend income, net of withholding taxes, is recorded when the portfolio becomes aware of the dividends. Non-cash dividends, if any, are recorded at the fair market value of the securities received. Gains and losses on securities sold are determined on the basis of identified cost and may include proceeds from litigation. Return of capital distributions from underlying funds, if any, are treated as a reduction of cost.

Portfolios that invest internationally generally carry more risk than portfolios that invest strictly in U.S. securities. Risks can result from differences in economic and political conditions, regulations, market practices (including higher transaction costs), accounting standards and other factors.

Line of credit. The portfolios and other affiliated funds have entered into a syndicated line of credit agreement with Citibank, N.A. as the administrative agent that enables them to participate in a $1 billion unsecured committed line of credit. Excluding commitments designated for a certain fund and subject to the needs of all other affiliated funds, a portfolio can borrow up to an aggregate commitment amount of $750 million, subject to asset coverage and other limitations as specified in the agreement. Prior to June 24, 2021, a portfolio could borrow up to an aggregate commitment amount of $850 million. A commitment fee payable at the end of each calendar quarter, based on the average daily unused portion of each line of credit, is charged to each participating portfolio based on a combination of fixed and asset-based allocations and is reflected in Other expenses on the Statements of operations.

Commitment fees for the six months ended June 30, 2021 were as follows:

Portfolio	Commitment fee
Managed Volatility Growth Portfolio	$22,179
Managed Volatility Balanced Portfolio	18,491
Managed Volatility Moderate Portfolio	7,328
Managed Volatility Conservative Portfolio	5,422

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	No Expiration Date
Portfolio	Short Term	Long Term
Managed Volatility Growth Portfolio	$439,194,280	$125,903,723
Managed Volatility Balanced Portfolio	260,787,255	76,673,901
Managed Volatility Moderate Portfolio	60,373,826	21,740,924
Managed Volatility Conservative Portfolio	29,053,111	16,205,216

For federal income tax purposes, the costs of investments owned on June 30, 2021, including short-term investments, were as follows:

Portfolio	Aggregate cost	Unrealized appreciation	Unrealized (depreciation)	Net unrealized appreciation/ (depreciation)
Managed Volatility Growth Portfolio	$6,042,853,949	$1,410,590,554	$(1,123,128)	$1,409,467,426
Managed Volatility Balanced Portfolio	5,027,189,567	858,015,042	(1,326)	858,013,716
Managed Volatility Moderate Portfolio	1,467,324,720	202,778,566	(510)	202,778,056
Managed Volatility Conservative Portfolio	858,888,584	78,228,039	(318)	78,227,721

3. Derivative instruments

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Derivative instruments, continued

Portfolio	Reason	USD Notional range
Managed Volatility Growth Portfolio	To manage volatility of returns and gain exposure to foreign currencies.	$86.2 million to $529.0 million
Managed Volatility Balanced Portfolio	To manage volatility of returns and gain exposure to foreign currencies.	$314.6 million to $349.1 million
Managed Volatility Moderate Portfolio	To manage volatility of returns and gain exposure to foreign currencies.	$72.7 million to $101.0 million
Managed Volatility Conservative Portfolio	To manage volatility of returns and gain exposure to foreign currencies.	$16.8 million to $28.2 million

Fair value of derivative instruments by risk category

The table below summarizes the fair value of derivatives held by the portfolios at June 30, 2021 by risk category:

Portfolio	Risk	Statements of assets and liabilities location	Financial instruments location	Assets derivatives fair value	Liabilities derivatives fair value
Managed Volatility Growth Portfolio	Currency	Receivable/payable for futures variation margin¹	Futures	—	$(1,824,035)
	Equity	Receivable/payable for futures variation margin¹	Futures	$3,174,398	(2,471,946)
				$3,174,398	$(4,295,981)
Managed Volatility Balanced Portfolio	Currency	Receivable/payable for futures variation margin¹	Futures	—	$(924,150)
	Equity	Receivable/payable for futures variation margin¹	Futures	$2,179,199	(1,009,515)
				$2,179,199	$(1,933,665)
Managed Volatility Moderate Portfolio	Currency	Receivable/payable for futures variation margin¹	Futures	—	$(200,205)
	Equity	Receivable/payable for futures variation margin¹	Futures	$546,191	(216,948)
				$546,191	$(417,153)
Managed Volatility Conservative Portfolio	Currency	Receivable/payable for futures variation margin¹	Futures	—	$(30,828)
	Equity	Receivable/payable for futures variation margin¹	Futures	$140,649	(37,645)
				$140,649	$(68,473)


¹	Reflects cumulative appreciation/depreciation on open futures as disclosed in the Derivatives section of the Portfolios of investments. Only the period end variation margin receivable/payable is separately reported on the Statements of assets and liabilities.

Effect of derivative instruments on the Statements of operations

		Statements of operations location - Net realized gain (loss) on:
Portfolio	Risk	Futures contracts
Managed Volatility Growth Portfolio	Currency	$1,299,489
	Equity	(6,662,256)
	Total	$(5,362,767)
Managed Volatility Balanced Portfolio	Currency	$548,177
	Equity	34,917,456
	Total	$35,465,633
Managed Volatility Moderate Portfolio	Currency	$(96,192)
	Equity	11,801,113
	Total	$11,704,921
Managed Volatility Conservative Portfolio	Currency	$(41,877)
	Equity	3,814,360
	Total	$3,772,483

		Statements of operations location - Change in net unrealized appreciation (depreciation) of:
Portfolio	Risk	Futures contracts
Managed Volatility Growth Portfolio	Currency	$(2,031,813)
	Equity	(5,345,339)
	Total	$(7,377,152)

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Derivative instruments, continued

		Statements of operations location - Change in net unrealized appreciation (depreciation) of:
Portfolio	Risk	Futures contracts
Managed Volatility Balanced Portfolio	Currency	$(1,400,428)
	Equity	(4,026,036)
	Total	$(5,426,464)
Managed Volatility Moderate Portfolio	Currency	$(299,653)
	Equity	(914,320)
	Total	$(1,213,973)
Managed Volatility Conservative Portfolio	Currency	$(56,330)
	Equity	(311,449)
	Total	$(367,779)

4. Guarantees and indemnifications

5. Fees and transactions with affiliates

Management fee. The portfolios have an investment management agreement with the Advisor under which the portfolios pay a daily management fee to the Advisor as detailed below. The Advisor has a subadvisory agreement with Manulife Investment Management (US) LLC, an indirect, wholly owned subsidiary of Manulife Financial Corporation and an affiliate of the Advisor. The portfolios are not responsible for payment of the subadvisory fees.

The management fee has two components: (a) a fee on assets invested in affiliated funds (Affiliated Funds Assets) and (b) a fee on assets not invested in affiliated funds (Other Assets). Affiliated funds are any fund of the Trust (excluding 500 Index Trust, International Equity Index Trust and Total Bond Market Trust), John Hancock Funds II ( JHF II) and John Hancock Funds III. Aggregate net assets include the net assets of the portfolios and the net assets of similar funds of the Trust and JHF II.

Under the advisory agreement, the portfolios pay a daily management fee to the Advisor. The rates, outlined below, are applied to the Affiliated Funds Assets and Other Assets of each portfolio.

	First $7.5 billion of aggregate net assets	Excess over $7.5 billion of aggregate net assets
Affiliated Funds Assets	0.050%	0.040%
Other assets	0.500%	0.490%

Expense reimbursements. Prior to April 30, 2021, the Advisor contractually agreed to reduce its management fee and/or make payment to the portfolios in an amount equal to the amount by which “Other expenses” of the portfolios exceed 0.00% of the average daily net assets of each portfolio. “Other expenses” means all of the expenses of the portfolios, excluding certain expenses such as management fees, taxes, brokerage commissions, interest expense, litigation and indemnification expenses and other extraordinary expenses not incurred in the ordinary course of the portfolios’ business, distribution and service (Rule 12b-1) fees, underlying fund expenses (acquired fund fees), and short dividend expense. This expense limitation agreement expired on April 30, 2021.

The Advisor has voluntarily agreed to waive its management fee or reimburse the portfolios so that the aggregate management fee retained by the Advisor with respect to both the portfolios and the underlying investments does not exceed 0.50% of the portfolios’ first $7.5 billion of aggregate daily net assets and 0.49% of the portfolios’ aggregate net assets in excess of $7.5 billion. In addition, the Advisor voluntarily agreed to waive its management fees and/or reduce expenses by 0.01% of each portfolio’s average net assets. These voluntary waivers may be terminated at any time by the Advisor upon notice to the Trust.

For the six months ended June 30, 2021, the expense reductions described above amounted to the following:

	Expense reimbursement by class
Portfolio	Series I	Series II	Series NAV	Total
Managed Volatility Growth Portfolio	$304,013	$3,148,519	$466,418	$3,918,950
Managed Volatility Balanced Portfolio	244,180	2,095,252	613,690	2,953,122
Managed Volatility Moderate Portfolio	97,302	642,657	64,628	804,587
Managed Volatility Conservative Portfolio	73,125	364,908	29,262	467,295

Expenses waived or reimbursed in the current fiscal period are not subject to recapture in future fiscal periods.

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Fees and transactions with affiliates, continued

Portfolio	Net Annual Effective Rate
Managed Volatility Growth Portfolio	0.08%
Managed Volatility Balanced Portfolio	0.07%
Managed Volatility Moderate Portfolio	0.07%
Managed Volatility Conservative Portfolio	0.07%

Class	Rule 12b-1 Fee
Series I	0.15%
Series II	0.35%

Currently only 0.05% for Series I shares and 0.25% for Series II shares are charged for 12b-1 fees.

Distribution and service fees for the six months ended June 30, 2021 were:

	Distribution and service fees by class
Portfolio	Series l	Series ll	Total
Managed Volatility Growth Portfolio	$141,847	$7,303,817	$7,445,664
Managed Volatility Balanced Portfolio	122,304	5,242,627	5,364,931
Managed Volatility Moderate Portfolio	50,987	1,682,910	1,733,897
Managed Volatility Conservative Portfolio	37,664	936,841	974,505

6. Portfolio share transactions

Transactions in portfolios' shares for the six months ended June 30, 2021 and for the year ended December 31, 2020 were as follows:

Managed Volatility Growth Portfolio	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series I shares
Sold	805,880	$10,361,618	751,837	$9,112,977
Issued in reorganization (Note 9)	3,852,981	49,740,247	—	—
Distributions reinvested	—	—	3,737,245	42,879,993
Repurchased	(3,486,466)	(43,858,290)	(6,364,253)	(76,880,544)
Net increase (decrease)	1,172,395	$16,243,575	(1,875,171)	$(24,887,574)
Series II shares
Sold	—	—	280,592	$3,250,936
Issued in reorganization (Note 9)	4,486,392	$57,641,045	—	—
Distributions reinvested	—	—	40,224,840	458,312,536
Repurchased	(50,551,362)	(636,045,852)	(87,101,027)	(1,054,091,709)
Net decrease	(46,064,970)	$(578,404,807)	(46,595,595)	$(592,528,237)
Series NAV shares
Sold	495,590	$6,325,400	1,183,423	$14,080,731
Issued in reorganization (Note 9)	18,679,577	241,604,079	—	—
Distributions reinvested	—	—	5,248,195	60,339,840
Repurchased	(2,497,622)	(31,631,635)	(4,072,673)	(49,259,921)
Net increase	16,677,545	$216,297,844	2,358,945	$25,160,650
Total net decrease	(28,215,030)	$(345,863,388)	(46,111,821)	$(592,255,161)

Managed Volatility Balanced Portfolio	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series I shares
Sold	114,062	$1,375,627	259,740	$2,987,816
Distributions reinvested	—	—	3,362,749	37,912,138
Repurchased	(3,433,268)	(41,257,316)	(5,722,420)	(66,457,834)
Net decrease	(3,319,206)	$(39,881,689)	(2,099,931)	$(25,557,880)

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Portfolio share transactions, continued

Managed Volatility Balanced Portfolio, Cont'd	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series II shares
Sold	7,258	$85,718	—	—
Distributions reinvested	—	—	28,825,582	$321,920,292
Repurchased	(34,641,232)	(414,128,574)	(60,178,564)	(699,755,865)
Net decrease	(34,633,974)	$(414,042,856)	(31,352,982)	$(377,835,573)
Series NAV shares
Sold	353,464	$4,236,901	469,378	$5,587,926
Distributions reinvested	—	—	8,107,681	91,761,085
Repurchased	(3,444,490)	(41,572,232)	(5,786,057)	(67,766,577)
Net increase (decrease)	(3,091,026)	$(37,335,331)	2,791,002	$29,582,434
Total net decrease	(41,044,206)	$(491,259,876)	(30,661,911)	$(373,811,019)

Managed Volatility Moderate Portfolio	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series I shares
Sold	257,506	$3,014,802	578,999	$6,707,558
Distributions reinvested	—	—	1,364,133	15,203,973
Repurchased	(1,561,920)	(18,252,341)	(3,346,067)	(38,069,656)
Net decrease	(1,304,414)	$(15,237,539)	(1,402,935)	$(16,158,125)
Series II shares
Sold	145,449	$1,663,329	207,390	$2,261,393
Distributions reinvested	—	—	8,867,532	97,917,019
Repurchased	(10,403,418)	(121,100,295)	(18,422,012)	(208,844,582)
Net decrease	(10,257,969)	$(119,436,966)	(9,347,090)	$(108,666,170)
Series NAV shares
Sold	280,276	$3,290,339	501,846	$5,695,282
Distributions reinvested	—	—	886,180	9,895,427
Repurchased	(869,971)	(10,115,436)	(731,279)	(8,372,744)
Net increase (decrease)	(589,695)	$(6,825,097)	656,747	$7,217,965
Total net decrease	(12,152,078)	$(141,499,602)	(10,093,278)	$(117,606,330)

Managed Volatility Conservative Portfolio	Six Months Ended 6-30-21		Year Ended 12-31-20
	Shares	Amount	Shares	Amount
Series I shares
Sold	515,966	$6,026,897	1,373,715	$15,916,373
Distributions reinvested	—	—	578,759	6,678,632
Repurchased	(864,061)	(10,098,242)	(2,816,339)	(32,393,462)
Net decrease	(348,095)	$(4,071,345)	(863,865)	$(9,798,457)
Series II shares
Sold	182,259	$2,115,988	1,608,725	$18,277,388
Distributions reinvested	—	—	2,937,722	33,603,380
Repurchased	(7,589,047)	(87,843,194)	(11,877,146)	(136,298,742)
Net decrease	(7,406,788)	$(85,727,206)	(7,330,699)	$(84,417,974)
Series NAV shares
Sold	362,163	$4,230,379	496,360	$5,765,396
Distributions reinvested	—	—	223,584	2,588,280
Repurchased	(220,187)	(2,565,962)	(436,453)	(5,092,290)
Net increase	141,976	$1,664,417	283,491	$3,261,386
Total net decrease	(7,612,907)	$(88,134,134)	(7,911,073)	$(90,955,045)

Affiliates of the Trust owned 100% of shares of the portfolios on June 31, 2021. Such concentration of shareholders’ capital could have a material effect on the portfolios if such shareholders redeem from the portfolios.

7. Purchase and sale of securities

Purchases and sales of securities, other than short-term investments, amounted to the following for the six months ended June 30, 2021:


Portfolio	Purchases	Sales
Managed Volatility Growth Portfolio	$343,013,396	$1,043,821,649
Managed Volatility Balanced Portfolio	245,067,044	709,665,705
Managed Volatility Moderate Portfolio	64,806,131	194,817,239
Managed Volatility Conservative Portfolio	19,432,015	100,825,642

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8. Investment in affiliated underlying funds

The portfolios invest primarily in affiliated underlying funds that are managed by the Advisor and its affiliates. The portfolios do not invest in the affiliated underlying funds for the purpose of exercising management or control; however, the portfolios' investment may represent a significant portion of each underlying funds’ net assets. At June 30, 2021, the following portfolios held 5% or more of the net assets of the underlying funds shown below:

Portfolio	Affiliated Class NAV	Percentage of underlying fund net assets
Managed Volatility Growth Portfolio
	Equity Income Trust	25.2%
	Strategic Equity Allocation Trust	24.9%
	Mid Value Trust	20.9%
	Core Bond Trust	18.6%
	Select Bond Trust	17.6%
	Emerging Markets Equity Fund	16.2%
	Small Cap Value Trust	15.2%
	Blue Chip Growth Trust	15.0%
	Mid Cap Stock Trust	13.5%
	Small Cap Growth Fund	8.4%
	Fundamental Large Cap Core Fund	8.3%
Managed Volatility Balanced Portfolio
	Core Bond Trust	25.0%
	Select Bond Trust	23.7%
	Equity Income Trust	16.5%
	Strategic Equity Allocation Trust	14.0%
	Small Cap Value Trust	9.9%
	Mid Value Trust	9.7%
	Blue Chip Growth Trust	9.7%
	Emerging Markets Equity Fund	7.8%
	Mid Cap Stock Trust	6.0%
Managed Volatility Moderate Portfolio
	Core Bond Trust	8.6%
	Select Bond Trust	8.1%
Managed Volatility Conservative Portfolio
	Core Bond Trust	6.4%
	Select Bond Trust	6.1%

Information regarding the portfolios' fiscal year to date purchases and sales of the affiliated underlying funds as well as income and capital gains earned by the portfolios, if any, is as follows:

							Dividends and distributions
Affiliate	Ending share amount	Beginning value	Cost of purchases	Proceeds from shares sold	Realized gain (loss)	Change in unrealized appreciation (depreciation)	Income distributions received	Capital gain distributions received	Ending value
Managed Volatility Growth Portfolio
Blue Chip Growth	8,141,085	$344,827,830	$38,804,483	$(60,142,267)	$9,188,264	$35,868,595	—	—	$368,546,905
Bond	33,422,017	514,317,333	64,747,701	(18,148,137)	1,359,771	(11,147,608)	$8,157,317	—	551,129,060
Core Bond	13,793,187	179,232,257	20,514,988	(4,589,511)	232,652	(3,389,223)	—	—	192,001,163
Emerging Markets Equity	23,170,369	357,317,257	30,050,210	(53,840,329)	17,696,944	13,014,122	—	—	364,238,204
Equity Income	25,814,929	346,851,677	40,029,850	(38,365,568)	1,018,904	68,925,131	—	—	418,459,994
Fundamental Large Cap Core	6,687,778	455,639,051	41,579,609	(89,075,581)	20,959,628	76,560,155	—	—	505,662,862
Mid Cap Stock	4,558,759	130,122,015	10,367,972	(21,774,741)	7,254,463	5,778,429	—	—	131,748,138
Mid Value	11,621,855	133,072,442	5,888,617	(25,957,226)	1,684,310	25,703,860	—	—	140,392,003
Multifactor Developed International ETF	6,662,886	223,570,716	9,568,435	(29,401,464)	6,224,577	14,843,510	3,775,227	—	224,805,774
Multifactor Emerging Markets ETF	4,897,104	152,609,186	7,064,608	(19,172,267)	4,784,547	9,880,625	1,196,460	—	155,166,699
Multifactor Large Cap ETF	—	215,170,584	542	(225,123,537)	63,425,038	(53,472,627)	—	—	—

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Investment in affiliated underlying funds, continued

							Dividends and distributions
Affiliate	Ending share amount	Beginning value	Cost of purchases	Proceeds from shares sold	Realized gain (loss)	Change in unrealized appreciation (depreciation)	Income distributions received	Capital gain distributions received	Ending value
Multifactor Mid Cap ETF	3,280,957	$163,704,741	$5,464,233	$(25,711,551)	$7,840,843	$18,786,545	$498,067	—	$170,084,811
Multifactor Small Cap ETF	4,514,404	151,375,502	4,833,638	(21,694,003)	4,984,496	17,962,779	765,959	—	157,462,412
Select Bond	97,943,062	1,318,958,454	146,429,561	(38,920,622)	2,521,799	(14,691,373)	—	—	1,414,297,819
Small Cap Growth	2,194,767	56,028,528	1,876,940	(9,473,239)	1,963,267	8,073,110	—	—	58,468,606
Small Cap Value	4,860,331	76,257,185	8,137,075	(16,216,771)	(1,937,130)	19,447,278	—	—	85,687,637
Strategic Equity Allocation	97,776,274	2,262,230,619	87,934,325	(327,559,900)	69,281,103	230,300,366	—	—	2,322,186,513
					$218,483,476	$462,443,674*	$14,393,030	—	$7,260,338,600
Managed Volatility Balanced Portfolio
Blue Chip Growth	5,267,112	$244,860,729	$14,845,391	$(49,527,760)	$7,312,702	$20,951,118	—	—	$238,442,180
Bond	45,209,020	746,505,054	34,197,721	(20,786,038)	1,556,790	(15,976,788)	$11,408,208	—	745,496,739
Core Bond	18,623,008	258,812,225	9,612,904	(4,548,559)	(36,864)	(4,607,434)	—	—	259,232,272
Emerging Markets Equity	11,185,768	183,595,560	13,741,905	(34,453,815)	11,387,115	1,569,515	—	—	175,840,280
Equity Income	16,923,520	244,494,276	17,855,905	(33,432,534)	(1,034,467)	46,447,079	—	—	274,330,259
Fundamental Large Cap Core	3,938,303	286,586,286	16,347,362	(59,591,795)	13,661,337	40,771,867	—	—	297,775,057
Mid Cap Stock	2,032,674	63,168,332	2,931,515	(12,515,662)	4,705,029	455,078	—	—	58,744,292
Mid Value	5,401,884	64,442,311	1,139,045	(12,497,190)	927,586	11,243,009	—	—	65,254,761
Multifactor Developed International ETF	3,035,462	108,379,177	696,251	(15,561,799)	3,278,637	5,624,222	1,717,291	—	102,416,488
Multifactor Emerging Markets ETF	2,376,571	78,926,753	1,428,947	(11,628,124)	2,904,161	3,670,866	584,636	—	75,302,603
Multifactor Large Cap ETF	—	130,841,907	495	(136,816,140)	39,739,631	(33,765,893)	—	—	—
Multifactor Mid Cap ETF	1,871,244	99,427,006	379,740	(17,044,921)	5,022,015	9,221,449	283,729	—	97,005,289
Multifactor Small Cap ETF	2,150,173	76,628,967	637,087	(12,425,375)	2,838,375	7,318,980	364,820	—	74,998,034
Select Bond	131,758,119	1,898,131,139	63,956,288	(40,883,870)	1,512,060	(20,128,385)	—	—	1,902,587,232
Small Cap Growth	1,237,518	33,766,015	381,476	(6,605,925)	2,065,336	3,360,566	—	—	32,967,468
Small Cap Value	3,148,326	51,422,434	4,292,379	(11,287,422)	(434,321)	11,511,926	—	—	55,504,996
Strategic Equity Allocation	54,795,317	1,351,829,731	702,320	(216,234,680)	51,302,558	113,788,845	—	—	1,301,388,774
					$146,707,680	$201,456,020	$14,358,684	—	$5,757,286,724
Managed Volatility Moderate Portfolio
Blue Chip Growth	1,295,222	$62,879,020	$5,430,841	$(16,709,016)	$2,403,360	$4,630,506	—	—	$58,634,711
Bond	15,439,348	260,488,386	8,751,928	(9,645,098)	736,725	(5,737,090)	$3,923,457	—	254,594,851
Core Bond	6,361,070	90,110,484	2,636,149	(2,588,666)	(57,671)	(1,554,204)	—	—	88,546,092
Emerging Markets Equity	2,043,314	33,770,614	4,550,380	(8,585,026)	2,903,001	(518,069)	—	—	32,120,900
Equity Income	4,354,808	62,653,757	3,806,541	(7,509,014)	161	11,639,993	—	—	70,591,438
Fundamental Large Cap Core	944,862	68,994,145	5,037,954	(15,677,029)	3,595,874	9,490,035	—	—	71,440,979
Mid Cap Stock	555,552	16,887,423	986,346	(3,212,299)	1,235,163	158,812	—	—	16,055,445
Mid Value	1,361,962	17,201,567	73,803	(4,030,675)	252,201	2,955,611	—	—	16,452,507
Multifactor Developed International ETF	445,412	16,193,552	38,324	(2,529,317)	541,208	784,434	253,230	—	15,028,201

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Investment in affiliated underlying funds, continued

							Dividends and distributions
Affiliate	Ending share amount	Beginning value	Cost of purchases	Proceeds from shares sold	Realized gain (loss)	Change in unrealized appreciation (depreciation)	Income distributions received	Capital gain distributions received	Ending value
Multifactor Emerging Markets ETF	436,914	$14,625,784	$352,821	$(2,356,593)	$589,960	$631,823	$106,747	—	$13,843,795
Multifactor Large Cap ETF	—	32,612,602	—	(34,121,898)	10,333,725	(8,824,429)	—	—	—
Multifactor Mid Cap ETF	241,876	12,962,782	55,930	(2,331,363)	703,166	1,148,337	36,725	—	12,538,852
Multifactor Small Cap ETF	293,689	10,665,142	119,093	(1,947,527)	444,793	962,371	49,830	—	10,243,872
Select Bond	45,040,726	663,003,003	15,166,711	(21,290,265)	881,809	(7,373,179)	—	—	650,388,079
Small Cap Growth	288,762	7,964,232	291,986	(1,843,686)	587,058	693,039	—	—	7,692,629
Small Cap Value	655,356	11,212,994	477,351	(2,515,550)	(24,968)	2,404,104	—	—	11,553,931
Strategic Equity Allocation	12,739,862	316,195,187	1,242,965	(53,429,824)	14,659,024	23,904,382	—	—	302,571,734
					$39,784,589	$35,396,476	$4,369,989	—	$1,632,298,016
Managed Volatility Conservative Portfolio
Blue Chip Growth	407,069	$20,647,348	$2,146,990	$(6,615,683)	$1,606,014	$643,361	—	—	$18,428,030
Bond	11,604,800	204,462,129	3,883,195	(13,050,202)	992,995	(4,924,968)	$3,009,828	—	191,363,149
Core Bond	4,765,720	70,821,213	360,173	(3,574,584)	(28,511)	(1,239,469)	—	—	66,338,822
Emerging Markets Equity	573,782	9,805,081	1,701,833	(3,191,161)	1,239,418	(535,318)	—	—	9,019,853
Equity Income	1,373,589	20,685,340	1,540,741	(3,631,281)	(6,006)	3,677,092	—	—	22,265,886
Fundamental Large Cap Core	267,972	20,218,591	1,748,350	(5,477,565)	2,297,629	1,474,387	—	—	20,261,392
Multifactor Developed International ETF	12,290	458,476	4,043	(85,269)	18,449	18,966	6,987	—	414,665
Multifactor Emerging Markets ETF	119,556	4,115,506	242,010	(912,930)	210,688	132,906	29,404	—	3,788,180
Multifactor Large Cap ETF	—	9,038,161	199	(9,446,958)	2,954,596	(2,545,998)	—	—	—
Multifactor Mid Cap ETF	229,398	12,862,274	302,443	(3,076,267)	923,078	880,464	35,016	—	11,891,992
Multifactor Small Cap ETF	260,033	9,634,844	398,226	(2,240,280)	516,443	760,718	44,360	—	9,069,951
Select Bond	33,759,838	520,319,852	1,773,325	(29,412,384)	1,067,391	(6,256,123)	—	—	487,492,061
Strategic Equity Allocation	3,546,254	90,828,236	1,001,474	(18,549,968)	4,258,557	6,685,235	—	—	84,223,534
					$16,050,741	$(1,228,747)	$3,125,595	—	$924,557,515

*	Includes unrealized appreciation of investments received in reorganization. See Reorganization note following.

9. Reorganization

On April 6, 2021, the shareholders of Managed Volatility Aggressive Portfolio (the Acquired Portfolio) voted to approve an Agreement and Plan of Reorganization (the Agreement) which provided for an exchange of shares of Managed Volatility Growth Portfolio (the Acquiring Portfolio) with a value equal to the net assets transferred.

The Agreement provided for (a) the acquisition of all the assets, subject to all the liabilities, of the Acquired Portfolio in exchange for shares of the Acquiring Portfolio with a value equal to the net assets transferred; (b) the liquidation of the Acquired Portfolio; and (c) the distribution to Acquired Portfolio’s shareholders of such Acquiring Portfolio’s shares. The reorganization was intended to achieve a more consistent long-term performance record and stronger prospects for growth and achieve potential opportunities for economies of scale. As a result of the reorganization, the Acquiring Portfolio is the legal and accounting survivor.

The reorganization qualified as a tax-free reorganization for federal income tax purposes with no gain or loss recognized by the Acquired Portfolio or its shareholders. Thus, the investments were transferred to the Acquiring Portfolio at the Acquired Portfolio’s identified cost. All distributable amounts of net income and realized gains from the Acquired Portfolio were distributed prior to the reorganization. In addition, the expenses of the reorganization were borne by the Advisor and the Acquired Portfolio. The effective time of the reorganization occurred immediately after the close of regularly scheduled trading on the New York Stock Exchange (NYSE) on April 23, 2021. The following outlines the reorganization:

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Reorganization, continued

Acquiring Portfolio	Acquired Portfolio	Net Asset Value of the Acquired Portfolio	Appreciation of the Acquired Portfolio’s Investments	Shares Redeemed by the Acquired Portfolio	Shares Issued by the Acquiring Portfolio	Acquiring Portfolio Net Assets Prior to Combination	Acquiring Portfolio Total Net Assets After Combination
Managed Volatility Growth Portfolio	Managed Volatility Aggressive Portfolio	$348,985,371	$56,251,540	32,140,529	27,018,950	$7,295,547,690	$7,644,533,061

10. Coronavirus (COVID-19) pandemic

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John Hancock Variable Insurance Trust

Special shareholder meeting (unaudited)

Managed Volatility Aggressive Portfolio held a Special Meeting of Shareholders on April 6, 2021. The following proposal was considered by the shareholders:

Proposal: Approval of Agreement and Plan of Reorganization providing for the reorganization of Managed Volatility Aggressive Portfolio into Managed Volatility Growth Portfolio.

PROPOSAL PASSED ON APRIL 6, 2021.
	SHARES VOTED	% OF SHARES VOTED	% OF OUTSTANDING SHARES
For	31,708,517.935	94.729%	94.729%
Against	448,834.196	1.341%	1.340%
Abstain	1,315,679.611	3.930%	3.930%

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John Hancock Variable Insurance Trust

Evaluation of Advisory and Subadvisory Agreements by the Board of Trustees

This section describes the evaluation by the Board of Trustees (the Board) of John Hancock Variable Insurance Trust (the Trust) of the Advisory Agreement (the Advisory Agreement) and the Subadvisory Agreement (the Subadvisory Agreement) with respect to each of the portfolios of the Trust included in this report except those otherwise noted below (the Funds). The Advisory and Subadvisory Agreements are collectively referred to as the Agreements. Prior to the June 22-24, 2021 telephonic meeting¹ at which the Agreements were approved, the Board also discussed and considered information regarding the proposed continuation of the Agreements at a telephonic¹ meeting held on May 25-26, 2021. The Board also receives information relating to the proposed continuation of the agreements noted above throughout the year on an on-going basis. The Trustees who are not “interested persons” of the Trust as defined by the Investment Company Act of 1940, as amended (the “1940 Act”) (the “Independent Trustees”) also met separately to evaluate and discuss the information presented, including with counsel to the Independent Trustees and a third-party consulting firm.

Approval of Advisory and Subadvisory Agreements

At telephonic meetings held on June 22-24, 2021, the Board, including the Independent Trustees, reapproved for an annual period, the continuation of the Advisory Agreement between the Trust and the Advisor and the Subadvisory Agreement between the Advisor and the Subadvisor with respect to each of the Funds in this report.

In considering the Advisory Agreement and the Subadvisory Agreement with respect to each Fund, the Board received in advance of the meetings a variety of materials relating to each Fund, the Advisor and the Subadvisor, including comparative performance, fee and expense information for peer groups of similar funds prepared by an independent third-party provider of fund data; performance information for the Funds’ benchmark indices; and, with respect to the Subadvisor, comparative performance information for comparably managed accounts, as applicable; and other information provided by the Advisor and the Subadvisor regarding the nature, extent and quality of services provided by the Advisor and the Subadvisor under their respective Agreements, as well as information regarding the Advisor’s revenues and costs of providing services to the Funds and any compensation paid to affiliates of the Advisor. At the meetings at which the renewal of the Advisory Agreement and Subadvisory Agreement are considered, particular focus is given to information concerning Fund performance, comparability of fees and total expenses, and profitability. However, the Board noted that the evaluation process with respect to the Advisor and the Subadvisor is an ongoing one. In this regard, the Board also took into account discussions with management and information provided to the Board (including its various committees) at prior meetings with respect to the services provided by the Advisor and the Subadvisor to the Funds, including quarterly performance reports prepared by management containing reviews of investment results, and periodic presentations from the Subadvisor with respect to the Funds. The information received and considered by the Board both in conjunction with the May and June meetings and throughout the year was both written and oral. The Board noted the affiliation of the Subadvisor with the Advisor, noting any potential conflicts of interest. The Board also considered the nature, quality, and extent of the non-advisory services, if any, to be provided to the Funds by the Advisor’s affiliates, including distribution services. The Board considered the Advisory Agreement and the Subadvisory Agreement separately in the course of its review. In doing so, the Board noted the respective roles of the Advisor and the Subadvisor in providing services to the Funds. In addition, although the Board approved the renewal of the Agreements for all of the Funds at the June meeting, the Board considered each Fund separately.

counsel throughout the process. The Independent Trustees also received a memorandum from their independent counsel discussing the legal standards for their consideration of the proposed continuation of the Agreements and discussed the proposed continuation of the Agreements in private sessions with their independent legal counsel at which no representatives of management were present.

Approval of Advisory Agreement

Nature, extent, and quality of services. Among the information received by the Board from the Advisor relating to the nature, extent, and quality of services provided to the Funds, the Board reviewed information provided by the Advisor relating to its operations and personnel, descriptions of its organizational and management structure, and information regarding the Advisor's compliance and regulatory history, including its Form ADV. The Board also noted that on a regular basis it receives and reviews information from the Trust’s Chief Compliance Officer (CCO) regarding the Funds’ compliance policies and procedures established pursuant to Rule 38a-1 under the 1940 Act. The Board observed that the scope of services provided by the Advisor, and of the undertakings required of the Advisor in connection with those services, including maintaining and monitoring its own and the Fund’s compliance programs, risk management programs, liquidity management programs and cybersecurity programs, had expanded over time as a result of regulatory, market and other developments. The Board considered that the Advisor is responsible for the management of the day-to-day operations of the Funds, including but not limited to, general supervision of and coordination of the services provided by the Subadvisor, and is also responsible for monitoring and reviewing the activities of the Subadvisor and third-party service providers. The Board also considered the significant risks assumed by the Advisor in connection with the services provided to the Funds including entrepreneurial risk in sponsoring new Funds and ongoing risks including investment, operational, enterprise, litigation, regulatory and compliance risks with respect to all Funds.

In the course of their deliberations regarding the Advisory Agreement, the Board considered, among other things:

(a) the skills and competency with which the Advisor has in the past managed the Trust’s affairs and its subadvisory relationships, the Advisor’s oversight and monitoring of the Subadvisor’s investment performance and compliance programs, such as the Subadvisor’s compliance with fund policies and objectives, review of brokerage matters including with respect to trade allocation and best execution, and the Advisor’s timeliness in responding to performance issues;