John Hancock
Investors Trust
Quarterly portfolio holdings 7/31/2022
| Fund’s investments |
As of 7-31-22
(unaudited)
| Rate (%) | Maturity date | Par value^ | Value | ||
| U.S. Government and Agency obligations 8.6% (5.2% of Total investments) | $11,172,303 | ||||
| (Cost $11,194,139) | |||||
| U.S. Government 7.0% | 9,058,394 | ||||
| U.S. Treasury | |||||
| Note (A)(B) | 0.250 | 05-15-24 | 9,500,000 | 9,058,394 | |
| U.S. Government Agency 1.6% | 2,113,909 | ||||
| Federal National Mortgage Association | |||||
| 30 Yr Pass Thru | 4.000 | 12-01-40 | 746,859 | 767,849 | |
| 30 Yr Pass Thru | 4.000 | 09-01-41 | 612,468 | 630,140 | |
| 30 Yr Pass Thru | 4.000 | 10-01-41 | 369,556 | 380,262 | |
| 30 Yr Pass Thru | 4.000 | 01-01-42 | 197,673 | 203,370 | |
| 30 Yr Pass Thru | 6.500 | 01-01-39 | 117,362 | 132,288 | |
| Foreign government obligations 0.3% (0.2% of Total investments) | $392,905 | ||||
| (Cost $582,880) | |||||
| Argentina 0.3% | 392,905 | ||||
| Republic of Argentina Bond (3.500% to 7-9-29, then 4.875% thereafter) | 3.500 | 07-09-41 | 1,500,000 | 392,905 | |
| Corporate bonds 142.1% (86.4% of Total investments) | $184,798,743 | ||||
| (Cost $202,012,103) | |||||
| Communication services 27.5% | 35,756,063 | ||||
| Diversified telecommunication services 3.9% | |||||
| Connect Finco SARL (C) | 6.750 | 10-01-26 | 1,110,000 | 1,085,613 | |
| Iliad Holding SASU (C) | 6.500 | 10-15-26 | 905,000 | 868,664 | |
| Level 3 Financing, Inc. (C) | 4.625 | 09-15-27 | 1,245,000 | 1,137,980 | |
| Telecom Argentina SA (C) | 8.000 | 07-18-26 | 166,000 | 145,122 | |
| Total Play Telecomunicaciones SA de CV (C) | 7.500 | 11-12-25 | 1,500,000 | 1,309,725 | |
| Zayo Group Holdings, Inc. (C) | 6.125 | 03-01-28 | 720,000 | 558,000 | |
| Entertainment 4.3% | |||||
| AMC Entertainment Holdings, Inc. (C) | 7.500 | 02-15-29 | 1,000,000 | 887,390 | |
| AMC Entertainment Holdings, Inc. (C) | 10.000 | 06-15-26 | 1,090,000 | 862,310 | |
| Cinemark USA, Inc. (C) | 8.750 | 05-01-25 | 950,000 | 989,739 | |
| Lions Gate Capital Holdings LLC (A)(B)(C) | 5.500 | 04-15-29 | 955,000 | 777,403 | |
| Magallanes, Inc. (B)(C) | 4.279 | 03-15-32 | 520,000 | 485,300 | |
| Netflix, Inc. (B) | 5.875 | 11-15-28 | 1,500,000 | 1,556,100 | |
| Interactive media and services 1.7% | |||||
| Arches Buyer, Inc. (A)(B)(C) | 6.125 | 12-01-28 | 777,000 | 637,140 | |
| Cars.com, Inc. (C) | 6.375 | 11-01-28 | 750,000 | 651,345 | |
| Match Group Holdings II LLC (A)(B)(C) | 3.625 | 10-01-31 | 500,000 | 427,120 | |
| Match Group Holdings II LLC (A)(B)(C) | 5.625 | 02-15-29 | 500,000 | 490,000 | |
| Media 11.9% | |||||
| Altice Financing SA (C) | 5.000 | 01-15-28 | 510,000 | 449,167 | |
| Altice Financing SA (C) | 5.750 | 08-15-29 | 400,000 | 349,188 | |
| Altice France Holding SA (A)(B)(C) | 6.000 | 02-15-28 | 710,000 | 548,070 | |
| Altice France SA (C) | 5.500 | 10-15-29 | 1,250,000 | 1,075,088 | |
| CCO Holdings LLC (C) | 4.250 | 01-15-34 | 860,000 | 710,390 | |
| CCO Holdings LLC (C) | 5.125 | 05-01-27 | 645,000 | 631,745 | |
| Comcast Corp. (B) | 3.300 | 04-01-27 | 820,000 | 814,998 | |
| CSC Holdings LLC (A)(B)(C) | 5.500 | 04-15-27 | 1,175,000 | 1,136,507 | |
| Gannett Holdings LLC (A)(B)(C) | 6.000 | 11-01-26 | 690,000 | 584,775 | |
| Globo Comunicacao e Participacoes SA (A)(B)(C) | 5.500 | 01-14-32 | 245,000 | 197,225 | |
| Grupo Televisa SAB | 4.625 | 01-30-26 | 725,000 | 733,023 | |
| Grupo Televisa SAB | 8.490 | 05-11-37 | MXN | 26,200,000 | 1,041,606 |
| 2 | JOHN HANCOCK INVESTORS TRUST | QUARTERLY REPORT | SEE NOTES TO FUND’S INVESTMENTS |
| Rate (%) | Maturity date | Par value^ | Value | ||
| Communication services (continued) | |||||
| Media (continued) | |||||
| iHeartCommunications, Inc. (A)(B) | 8.375 | 05-01-27 | 1,200,000 | $1,083,360 | |
| LCPR Senior Secured Financing DAC (C) | 6.750 | 10-15-27 | 945,000 | 917,389 | |
| National CineMedia LLC | 5.750 | 08-15-26 | 400,000 | 204,000 | |
| News Corp. (B)(C) | 5.125 | 02-15-32 | 625,000 | 596,875 | |
| Paramount Global (B) | 5.850 | 09-01-43 | 1,125,000 | 1,088,003 | |
| Radiate Holdco LLC (C) | 6.500 | 09-15-28 | 1,555,000 | 1,233,846 | |
| Sirius XM Radio, Inc. (B)(C) | 3.875 | 09-01-31 | 860,000 | 748,200 | |
| Stagwell Global LLC (C) | 5.625 | 08-15-29 | 1,000,000 | 837,480 | |
| Townsquare Media, Inc. (A)(B)(C) | 6.875 | 02-01-26 | 470,000 | 430,868 | |
| Wireless telecommunication services 5.7% | |||||
| America Movil SAB de CV | 6.450 | 12-05-22 | MXN | 10,370,000 | 502,133 |
| SoftBank Group Corp. | 5.125 | 09-19-27 | 1,000,000 | 853,653 | |
| SoftBank Group Corp. (6.875% to 7-19-27, then 5 Year ICE Swap Rate + 4.854%) (D) | 6.875 | 07-19-27 | 1,098,000 | 947,574 | |
| Sprint Corp. (B) | 7.125 | 06-15-24 | 2,150,000 | 2,252,125 | |
| Sprint Corp. | 7.875 | 09-15-23 | 1,000,000 | 1,036,810 | |
| U.S. Cellular Corp. | 6.700 | 12-15-33 | 1,895,000 | 1,883,014 | |
| Consumer discretionary 20.8% | 27,060,705 | ||||
| Auto components 0.8% | |||||
| The Goodyear Tire & Rubber Company (A)(B) | 5.000 | 07-15-29 | 550,000 | 501,600 | |
| The Goodyear Tire & Rubber Company (A)(B) | 5.250 | 04-30-31 | 650,000 | 583,375 | |
| Automobiles 6.6% | |||||
| Ford Motor Company | 3.250 | 02-12-32 | 204,000 | 170,340 | |
| Ford Motor Company | 4.750 | 01-15-43 | 683,000 | 562,621 | |
| General Motors Company (B) | 5.400 | 10-02-23 | 1,150,000 | 1,170,543 | |
| General Motors Company (B) | 6.750 | 04-01-46 | 1,500,000 | 1,545,266 | |
| General Motors Company (B) | 6.800 | 10-01-27 | 1,434,000 | 1,550,797 | |
| General Motors Financial Company, Inc. (5.700% to 9-30-30, then 5 Year CMT + 4.997%) (A)(B)(D) | 5.700 | 09-30-30 | 1,000,000 | 947,500 | |
| Nissan Motor Company, Ltd. (C) | 4.345 | 09-17-27 | 2,000,000 | 1,877,459 | |
| Thor Industries, Inc. (C) | 4.000 | 10-15-29 | 850,000 | 688,662 | |
| Diversified consumer services 1.7% | |||||
| Garda World Security Corp. (C) | 4.625 | 02-15-27 | 750,000 | 676,613 | |
| Sotheby’s (B)(C) | 7.375 | 10-15-27 | 780,000 | 750,546 | |
| Stena International SA (C) | 6.125 | 02-01-25 | 800,000 | 765,896 | |
| Hotels, restaurants and leisure 8.6% | |||||
| Affinity Gaming (C) | 6.875 | 12-15-27 | 1,000,000 | 866,545 | |
| Caesars Entertainment, Inc. (A)(B)(C) | 4.625 | 10-15-29 | 710,000 | 601,938 | |
| Carnival Corp. (C) | 6.000 | 05-01-29 | 673,000 | 518,102 | |
| Carnival Corp. (C) | 7.625 | 03-01-26 | 750,000 | 645,191 | |
| CEC Entertainment LLC (C) | 6.750 | 05-01-26 | 830,000 | 776,050 | |
| Everi Holdings, Inc. (C) | 5.000 | 07-15-29 | 180,000 | 162,000 | |
| Expedia Group, Inc. (B) | 4.625 | 08-01-27 | 1,115,000 | 1,095,662 | |
| Expedia Group, Inc. (B) | 5.000 | 02-15-26 | 1,000,000 | 1,011,584 | |
| Full House Resorts, Inc. (C) | 8.250 | 02-15-28 | 670,000 | 545,414 | |
| Jacobs Entertainment, Inc. (C) | 6.750 | 02-15-29 | 255,000 | 211,475 | |
| Life Time, Inc. (C) | 5.750 | 01-15-26 | 850,000 | 799,017 | |
| Mohegan Gaming & Entertainment (C) | 8.000 | 02-01-26 | 640,000 | 572,800 | |
| New Red Finance, Inc. (C) | 4.375 | 01-15-28 | 935,000 | 866,567 | |
| Premier Entertainment Sub LLC (C) | 5.625 | 09-01-29 | 880,000 | 710,600 | |
| Travel + Leisure Company (C) | 4.625 | 03-01-30 | 639,000 | 523,480 | |
| Travel + Leisure Company (C) | 6.625 | 07-31-26 | 465,000 | 472,912 | |
| SEE NOTES TO FUND’S INVESTMENTS | QUARTERLY REPORT | JOHN HANCOCK INVESTORS TRUST | 3 |
| Rate (%) | Maturity date | Par value^ | Value | ||
| Consumer discretionary (continued) | |||||
| Hotels, restaurants and leisure (continued) | |||||
| Wyndham Hotels & Resorts, Inc. (C) | 4.375 | 08-15-28 | 180,000 | $165,367 | |
| Yum! Brands, Inc. | 5.375 | 04-01-32 | 700,000 | 691,250 | |
| Household durables 0.2% | |||||
| KB Home | 7.250 | 07-15-30 | 225,000 | 226,125 | |
| Multiline retail 1.1% | |||||
| Macy’s Retail Holdings LLC (A)(B)(C) | 5.875 | 04-01-29 | 475,000 | 417,185 | |
| Nordstrom, Inc. (B) | 4.250 | 08-01-31 | 500,000 | 404,955 | |
| Nordstrom, Inc. (B) | 5.000 | 01-15-44 | 900,000 | 659,467 | |
| Specialty retail 1.3% | |||||
| Asbury Automotive Group, Inc. (C) | 4.625 | 11-15-29 | 160,000 | 141,219 | |
| Carvana Company (A)(B)(C) | 5.875 | 10-01-28 | 750,000 | 475,500 | |
| Lithia Motors, Inc. (C) | 3.875 | 06-01-29 | 550,000 | 489,365 | |
| Lithia Motors, Inc. (C) | 4.375 | 01-15-31 | 675,000 | 612,563 | |
| Textiles, apparel and luxury goods 0.5% | |||||
| Kontoor Brands, Inc. (C) | 4.125 | 11-15-29 | 720,000 | 607,154 | |
| Consumer staples 1.6% | 2,036,855 | ||||
| Food products 0.9% | |||||
| Lamb Weston Holdings, Inc. (C) | 4.125 | 01-31-30 | 647,000 | 602,982 | |
| Post Holdings, Inc. (B)(C) | 5.625 | 01-15-28 | 510,000 | 502,350 | |
| Household products 0.7% | |||||
| Edgewell Personal Care Company (C) | 5.500 | 06-01-28 | 950,000 | 931,523 | |
| Energy 19.2% | 24,951,091 | ||||
| Energy equipment and services 1.5% | |||||
| CSI Compressco LP (A)(B)(C) | 7.500 | 04-01-25 | 500,000 | 460,108 | |
| CSI Compressco LP (C) | 7.500 | 04-01-25 | 380,000 | 349,682 | |
| CSI Compressco LP (10.000% Cash or 7.250% Cash and 3.500% PIK) (C) | 10.000 | 04-01-26 | 1,236,699 | 1,134,831 | |
| Oil, gas and consumable fuels 17.7% | |||||
| Antero Midstream Partners LP (B)(C) | 5.375 | 06-15-29 | 425,000 | 415,180 | |
| Antero Resources Corp. (B)(C) | 7.625 | 02-01-29 | 529,000 | 557,434 | |
| Cenovus Energy, Inc. (B) | 6.750 | 11-15-39 | 895,000 | 993,246 | |
| Cheniere Energy Partners LP | 3.250 | 01-31-32 | 325,000 | 283,563 | |
| Cheniere Energy Partners LP | 4.500 | 10-01-29 | 1,620,000 | 1,569,513 | |
| DCP Midstream LP (7.375% to 12-15-22, then 3 month LIBOR + 5.148%) (D) | 7.375 | 12-15-22 | 700,000 | 635,309 | |
| DCP Midstream Operating LP (5.850% to 5-21-23, then 3 month LIBOR + 3.850%) (C) | 5.850 | 05-21-43 | 560,000 | 484,241 | |
| Delek Logistics Partners LP (C) | 7.125 | 06-01-28 | 535,000 | 488,188 | |
| Enbridge, Inc. (5.750% to 4-15-30, then 5 Year CMT + 5.314%) (B) | 5.750 | 07-15-80 | 950,000 | 894,805 | |
| Energy Transfer LP (B) | 4.200 | 04-15-27 | 1,000,000 | 979,759 | |
| Energy Transfer LP (7.125% to 5-15-30, then 5 Year CMT + 5.306%) (D) | 7.125 | 05-15-30 | 1,285,000 | 1,156,500 | |
| EQM Midstream Partners LP (C) | 7.500 | 06-01-30 | 531,000 | 546,465 | |
| Marathon Petroleum Corp. (B) | 4.750 | 09-15-44 | 1,500,000 | 1,372,376 | |
| MEG Energy Corp. (C) | 5.875 | 02-01-29 | 237,000 | 225,150 | |
| New Fortress Energy, Inc. (B)(C) | 6.500 | 09-30-26 | 1,000,000 | 947,050 | |
| Occidental Petroleum Corp. (B) | 5.500 | 12-01-25 | 450,000 | 460,202 | |
| Occidental Petroleum Corp. (A)(B) | 6.375 | 09-01-28 | 840,000 | 900,179 | |
| Occidental Petroleum Corp. (B) | 6.625 | 09-01-30 | 340,000 | 377,194 | |
| Odebrecht Oil & Gas Finance, Ltd., Zero Coupon (C)(D) | 0.000 | 08-29-22 | 100,959 | 404 | |
| Parkland Corp. (B)(C) | 5.875 | 07-15-27 | 1,150,000 | 1,121,250 | |
| Parsley Energy LLC (B)(C) | 4.125 | 02-15-28 | 1,115,000 | 1,041,890 | |
| 4 | JOHN HANCOCK INVESTORS TRUST | QUARTERLY REPORT | SEE NOTES TO FUND’S INVESTMENTS |
| Rate (%) | Maturity date | Par value^ | Value | ||
| Energy (continued) | |||||
| Oil, gas and consumable fuels (continued) | |||||
| Petroleos Mexicanos | 6.700 | 02-16-32 | 632,000 | $506,232 | |
| Petroleos Mexicanos | 7.470 | 11-12-26 | MXN | 31,356,000 | 1,341,269 |
| Plains All American Pipeline LP (6.125% to 11-15-22, then 3 month LIBOR + 4.110%) (B)(D) | 6.125 | 11-15-22 | 1,100,000 | 834,710 | |
| Sabine Pass Liquefaction LLC (B) | 5.000 | 03-15-27 | 1,000,000 | 1,017,368 | |
| Southwestern Energy Company (B) | 8.375 | 09-15-28 | 1,570,000 | 1,687,750 | |
| Sunoco LP | 4.500 | 04-30-30 | 374,000 | 328,005 | |
| Talos Production, Inc. | 12.000 | 01-15-26 | 660,000 | 702,900 | |
| The Oil and Gas Holding Company BSCC (C) | 7.500 | 10-25-27 | 1,155,000 | 1,138,338 | |
| Financials 26.8% | 34,861,677 | ||||
| Banks 18.2% | |||||
| Bank of America Corp. (6.100% to 3-17-25, then 3 month LIBOR + 3.898%) (B)(D) | 6.100 | 03-17-25 | 2,760,000 | 2,790,712 | |
| Barclays PLC (6.125% to 12-15-25, then 5 Year CMT + 5.867%) (A)(B)(D) | 6.125 | 12-15-25 | 1,185,000 | 1,142,696 | |
| BNP Paribas SA (7.000% to 8-16-28, then 5 Year U.S. Swap Rate + 3.980%) (C)(D) | 7.000 | 08-16-28 | 1,205,000 | 1,211,628 | |
| Citizens Financial Group, Inc. (5.650% to 10-6-25, then 5 Year CMT + 5.313%) (A)(B)(D) | 5.650 | 10-06-25 | 1,000,000 | 1,027,700 | |
| Credit Agricole SA (7.875% to 1-23-24, then 5 Year U.S. Swap Rate + 4.898%) (B)(C)(D) | 7.875 | 01-23-24 | 865,000 | 888,788 | |
| Credit Agricole SA (8.125% to 12-23-25, then 5 Year U.S. Swap Rate + 6.185%) (B)(C)(D) | 8.125 | 12-23-25 | 1,495,000 | 1,590,876 | |
| Freedom Mortgage Corp. (C) | 6.625 | 01-15-27 | 795,000 | 609,893 | |
| Freedom Mortgage Corp. (C) | 8.250 | 04-15-25 | 709,000 | 634,555 | |
| HSBC Holdings PLC (4.600% to 12-17-30, then 5 Year CMT + 3.649%) (B)(D) | 4.600 | 12-17-30 | 1,250,000 | 1,043,500 | |
| HSBC Holdings PLC (6.500% to 3-23-28, then 5 Year ICE Swap Rate + 3.606%) (B)(D) | 6.500 | 03-23-28 | 2,080,000 | 2,033,824 | |
| ING Groep NV (6.500% to 4-16-25, then 5 Year U.S. Swap Rate + 4.446%) (D) | 6.500 | 04-16-25 | 1,135,000 | 1,116,602 | |
| JPMorgan Chase & Co. (6.750% to 2-1-24, then 3 month LIBOR + 3.780%) (B)(D) | 6.750 | 02-01-24 | 3,500,000 | 3,596,250 | |
| Lloyds Banking Group PLC (7.500% to 6-27-24, then 5 Year U.S. Swap Rate + 4.760%) (D) | 7.500 | 06-27-24 | 1,665,000 | 1,682,072 | |
| NatWest Group PLC (6.000% to 12-29-25, then 5 Year CMT + 5.625%) (D) | 6.000 | 12-29-25 | 675,000 | 658,550 | |
| The PNC Financial Services Group, Inc. (6.000% to 5-15-27, then 5 Year CMT + 3.000%) (B)(D) | 6.000 | 05-15-27 | 1,365,000 | 1,373,531 | |
| U.S. Bancorp (3.700% to 1-15-27, then 5 Year CMT + 2.541%) (B)(D) | 3.700 | 01-15-27 | 930,000 | 774,571 | |
| Wells Fargo & Company (5.875% to 6-15-25, then 3 month LIBOR + 3.990%) (B)(D) | 5.875 | 06-15-25 | 1,565,000 | 1,578,645 | |
| Capital markets 0.6% | |||||
| Jane Street Group (C) | 4.500 | 11-15-29 | 260,000 | 239,850 | |
| The Charles Schwab Corp. (5.000% to 6-1-27, then 5 Year CMT + 3.256%) (B)(D) | 5.000 | 06-01-27 | 530,000 | 512,775 | |
| Consumer finance 4.6% | |||||
| Ally Financial, Inc. (A)(B) | 5.800 | 05-01-25 | 2,000,000 | 2,070,205 | |
| Avation Capital SA (8.250% Cash or 9.000% PIK) (C) | 8.250 | 10-31-26 | 741,690 | 558,017 | |
| Enova International, Inc. (C) | 8.500 | 09-15-25 | 1,200,000 | 1,104,000 | |
| OneMain Finance Corp. (B) | 6.875 | 03-15-25 | 1,650,000 | 1,629,375 | |
| World Acceptance Corp. (C) | 7.000 | 11-01-26 | 860,000 | 612,425 | |
| Insurance 3.0% | |||||
| Athene Holding, Ltd. (B) | 6.150 | 04-03-30 | 1,500,000 | 1,554,931 | |
| SEE NOTES TO FUND’S INVESTMENTS | QUARTERLY REPORT | JOHN HANCOCK INVESTORS TRUST | 5 |
| Rate (%) | Maturity date | Par value^ | Value | ||
| Financials (continued) | |||||
| Insurance (continued) | |||||
| Prudential Financial, Inc. (3.700% to 7-1-30, then 5 Year CMT + 3.035%) (B) | 3.700 | 10-01-50 | 2,100,000 | $1,836,941 | |
| SBL Holdings, Inc. (B)(C) | 5.000 | 02-18-31 | 587,000 | 492,515 | |
| Mortgage real estate investment trusts 0.4% | |||||
| Starwood Property Trust, Inc. (B)(C) | 5.500 | 11-01-23 | 500,000 | 496,250 | |
| Health care 5.0% | 6,457,658 | ||||
| Health care providers and services 4.2% | |||||
| Centene Corp. | 3.375 | 02-15-30 | 515,000 | 468,013 | |
| Centene Corp. | 4.625 | 12-15-29 | 400,000 | 394,500 | |
| DaVita, Inc. (C) | 3.750 | 02-15-31 | 440,000 | 334,400 | |
| Encompass Health Corp. (A)(B) | 4.750 | 02-01-30 | 600,000 | 553,416 | |
| HCA, Inc. | 3.500 | 09-01-30 | 700,000 | 638,743 | |
| HCA, Inc. | 5.250 | 04-15-25 | 1,000,000 | 1,018,665 | |
| HCA, Inc. | 5.500 | 06-15-47 | 1,760,000 | 1,700,758 | |
| HealthEquity, Inc. (A)(B)(C) | 4.500 | 10-01-29 | 390,000 | 363,223 | |
| Pharmaceuticals 0.8% | |||||
| Bausch Health Companies, Inc. (C) | 7.000 | 01-15-28 | 500,000 | 276,815 | |
| Organon & Company (B)(C) | 4.125 | 04-30-28 | 750,000 | 709,125 | |
| Industrials 17.3% | 22,525,923 | ||||
| Aerospace and defense 1.4% | |||||
| Bombardier, Inc. (C) | 7.125 | 06-15-26 | 570,000 | 529,188 | |
| Bombardier, Inc. (A)(B)(C) | 7.875 | 04-15-27 | 1,380,000 | 1,276,500 | |
| Air freight and logistics 0.1% | |||||
| Watco Companies LLC (C) | 6.500 | 06-15-27 | 164,000 | 156,978 | |
| Airlines 4.0% | |||||
| American Airlines 2013-1 Class A Pass Through Trust (B) | 4.000 | 07-15-25 | 371,012 | 323,132 | |
| American Airlines, Inc. (A)(B)(C) | 11.750 | 07-15-25 | 1,100,000 | 1,221,000 | |
| Delta Air Lines, Inc. (B)(C) | 7.000 | 05-01-25 | 1,000,000 | 1,044,651 | |
| Delta Air Lines, Inc. (A)(B) | 7.375 | 01-15-26 | 700,000 | 735,066 | |
| United Airlines 2020-1 Class A Pass Through Trust (B) | 5.875 | 10-15-27 | 401,120 | 401,120 | |
| United Airlines 2020-1 Class B Pass Through Trust (B) | 4.875 | 01-15-26 | 1,592,796 | 1,489,264 | |
| Virgin Australia Holdings Proprietary, Ltd. (C)(E) | 8.125 | 11-15-24 | 1,100,000 | 57,750 | |
| Building products 0.3% | |||||
| Builders FirstSource, Inc. (C) | 5.000 | 03-01-30 | 370,000 | 342,667 | |
| Commercial services and supplies 2.1% | |||||
| Allied Universal Holdco LLC (C) | 6.625 | 07-15-26 | 1,100,000 | 1,065,867 | |
| APX Group, Inc. (A)(B)(C) | 5.750 | 07-15-29 | 665,000 | 554,662 | |
| Cimpress PLC (C) | 7.000 | 06-15-26 | 1,300,000 | 1,084,850 | |
| Construction and engineering 2.4% | |||||
| AECOM | 5.125 | 03-15-27 | 900,000 | 912,591 | |
| Global Infrastructure Solutions, Inc. (C) | 5.625 | 06-01-29 | 650,000 | 512,460 | |
| MasTec, Inc. (B)(C) | 4.500 | 08-15-28 | 450,000 | 417,009 | |
| Picasso Finance Sub, Inc. (B)(C) | 6.125 | 06-15-25 | 425,000 | 430,514 | |
| Tutor Perini Corp. (A)(B)(C) | 6.875 | 05-01-25 | 1,000,000 | 889,942 | |
| Electrical equipment 0.6% | |||||
| Atkore, Inc. (C) | 4.250 | 06-01-31 | 345,000 | 300,150 | |
| Vertiv Group Corp. (C) | 4.125 | 11-15-28 | 564,000 | 499,140 | |
| Machinery 0.9% | |||||
| JB Poindexter & Company, Inc. (C) | 7.125 | 04-15-26 | 625,000 | 609,831 | |
| TK Elevator U.S. Newco, Inc. (C) | 5.250 | 07-15-27 | 600,000 | 576,000 | |
| 6 | JOHN HANCOCK INVESTORS TRUST | QUARTERLY REPORT | SEE NOTES TO FUND’S INVESTMENTS |
| Rate (%) | Maturity date | Par value^ | Value | ||
| Industrials (continued) | |||||
| Marine 0.3% | |||||
| Seaspan Corp. (B)(C) | 5.500 | 08-01-29 | 460,000 | $359,950 | |
| Road and rail 2.5% | |||||
| The Hertz Corp. (C) | 4.625 | 12-01-26 | 80,000 | 71,200 | |
| Uber Technologies, Inc. (A)(B)(C) | 6.250 | 01-15-28 | 1,165,000 | 1,145,812 | |
| Uber Technologies, Inc. (C) | 7.500 | 09-15-27 | 600,000 | 607,500 | |
| Uber Technologies, Inc. (C) | 8.000 | 11-01-26 | 1,350,000 | 1,374,440 | |
| Trading companies and distributors 2.7% | |||||
| Ashland LLC | 6.875 | 05-15-43 | 845,000 | 853,961 | |
| Beacon Roofing Supply, Inc. (C) | 4.125 | 05-15-29 | 980,000 | 867,300 | |
| Boise Cascade Company (C) | 4.875 | 07-01-30 | 625,000 | 567,163 | |
| H&E Equipment Services, Inc. (C) | 3.875 | 12-15-28 | 800,000 | 694,000 | |
| WESCO Distribution, Inc. (B)(C) | 7.250 | 06-15-28 | 535,000 | 554,265 | |
| Information technology 8.5% | 11,054,259 | ||||
| IT services 1.4% | |||||
| Block, Inc. (A)(B) | 3.500 | 06-01-31 | 325,000 | 281,125 | |
| Sabre GLBL, Inc. (B)(C) | 9.250 | 04-15-25 | 1,000,000 | 1,017,400 | |
| Sixsigma Networks Mexico SA de CV (A)(B)(C) | 7.500 | 05-02-25 | 725,000 | 577,729 | |
| Semiconductors and semiconductor equipment 1.6% | |||||
| Entegris Escrow Corp. (C) | 4.750 | 04-15-29 | 930,000 | 895,423 | |
| Qorvo, Inc. (B)(C) | 3.375 | 04-01-31 | 1,400,000 | 1,150,674 | |
| Software 2.2% | |||||
| Consensus Cloud Solutions, Inc. (C) | 6.000 | 10-15-26 | 405,000 | 372,600 | |
| Consensus Cloud Solutions, Inc. (C) | 6.500 | 10-15-28 | 960,000 | 853,902 | |
| NCR Corp. (B)(C) | 5.125 | 04-15-29 | 265,000 | 254,420 | |
| NCR Corp. (A)(B)(C) | 5.250 | 10-01-30 | 535,000 | 516,184 | |
| Virtusa Corp. (C) | 7.125 | 12-15-28 | 1,000,000 | 799,050 | |
| Technology hardware, storage and peripherals 3.3% | |||||
| CDW LLC (B) | 3.250 | 02-15-29 | 500,000 | 429,990 | |
| Dell International LLC (B) | 8.350 | 07-15-46 | 746,000 | 955,170 | |
| Seagate HDD Cayman (A)(B) | 5.750 | 12-01-34 | 1,500,000 | 1,351,984 | |
| Xerox Corp. | 6.750 | 12-15-39 | 450,000 | 396,000 | |
| Xerox Holdings Corp. (C) | 5.500 | 08-15-28 | 1,350,000 | 1,202,608 | |
| Materials 7.3% | 9,483,444 | ||||
| Chemicals 1.6% | |||||
| Braskem Idesa SAPI (C) | 6.990 | 02-20-32 | 440,000 | 379,368 | |
| Orbia Advance Corp. SAB de CV (C) | 5.500 | 01-15-48 | 835,000 | 711,838 | |
| SCIL IV LLC (B)(C) | 5.375 | 11-01-26 | 310,000 | 259,335 | |
| Trinseo Materials Operating SCA (C) | 5.125 | 04-01-29 | 1,100,000 | 767,250 | |
| Containers and packaging 2.1% | |||||
| ARD Finance SA (6.500% Cash or 7.250% PIK) (C) | 6.500 | 06-30-27 | 639,882 | 484,250 | |
| Graphic Packaging International LLC (C) | 3.750 | 02-01-30 | 850,000 | 765,287 | |
| Sealed Air Corp. (B)(C) | 6.875 | 07-15-33 | 500,000 | 535,000 | |
| Trivium Packaging Finance BV (C) | 5.500 | 08-15-26 | 900,000 | 886,500 | |
| Metals and mining 3.6% | |||||
| First Quantum Minerals, Ltd. (C) | 6.875 | 10-15-27 | 1,400,000 | 1,333,500 | |
| Freeport-McMoRan, Inc. | 4.250 | 03-01-30 | 1,150,000 | 1,077,734 | |
| Freeport-McMoRan, Inc. | 5.450 | 03-15-43 | 825,000 | 773,351 | |
| Novelis Corp. (B)(C) | 4.750 | 01-30-30 | 810,000 | 749,278 | |
| QVC, Inc. (B) | 4.375 | 09-01-28 | 107,000 | 83,460 | |
| QVC, Inc. (B) | 5.950 | 03-15-43 | 1,000,000 | 677,293 | |
| SEE NOTES TO FUND’S INVESTMENTS | QUARTERLY REPORT | JOHN HANCOCK INVESTORS TRUST | 7 |
| Rate (%) | Maturity date | Par value^ | Value | ||
| Real estate 2.9% | $3,784,923 | ||||
| Equity real estate investment trusts 2.0% | |||||
| American Tower Corp. (B) | 3.800 | 08-15-29 | 690,000 | 659,862 | |
| GLP Capital LP | 5.375 | 04-15-26 | 815,000 | 808,839 | |
| Trust Fibra Uno | 6.390 | 01-15-50 | 1,000,000 | 779,460 | |
| VICI Properties LP (C) | 4.625 | 12-01-29 | 350,000 | 333,389 | |
| Real estate management and development 0.9% | |||||
| Realogy Group LLC (B)(C) | 5.750 | 01-15-29 | 690,000 | 563,482 | |
| WeWork Companies, Inc. (A)(B)(C) | 7.875 | 05-01-25 | 850,000 | 639,891 | |
| Utilities 5.2% | 6,826,145 | ||||
| Electric utilities 3.4% | |||||
| Duke Energy Corp. (3.250% to 1-15-27, then 5 Year CMT + 2.321%) (B) | 3.250 | 01-15-82 | 1,400,000 | 1,110,977 | |
| Instituto Costarricense de Electricidad (C) | 6.375 | 05-15-43 | 760,000 | 542,612 | |
| NRG Energy, Inc. (B)(C) | 3.375 | 02-15-29 | 275,000 | 237,188 | |
| NRG Energy, Inc. (B)(C) | 3.625 | 02-15-31 | 430,000 | 360,170 | |
| NRG Energy, Inc. (B) | 6.625 | 01-15-27 | 336,000 | 341,040 | |
| Vistra Operations Company LLC (B)(C) | 5.500 | 09-01-26 | 900,000 | 910,809 | |
| Vistra Operations Company LLC (B)(C) | 5.625 | 02-15-27 | 1,000,000 | 1,003,210 | |
| Gas utilities 1.3% | |||||
| AmeriGas Partners LP (B) | 5.750 | 05-20-27 | 1,000,000 | 1,007,000 | |
| NGL Energy Operating LLC (B)(C) | 7.500 | 02-01-26 | 749,000 | 684,264 | |
| Independent power and renewable electricity producers 0.5% | |||||
| Clearway Energy Operating LLC (C) | 4.750 | 03-15-28 | 650,000 | 628,875 | |
| Term loans (F) 3.4% (2.1% of Total investments) | $4,415,620 | ||||
| (Cost $5,344,192) | |||||
| Communication services 0.7% | 941,880 | ||||
| Media 0.7% | |||||
| AP Core Holdings II LLC, High-Yield Term Loan B2 (G) | TBD | 09-01-27 | 1,000,000 | 941,880 | |
| Consumer discretionary 0.5% | 651,508 | ||||
| Diversified consumer services 0.5% | |||||
| Sotheby’s, 2021 Term Loan B (3 month LIBOR + 4.500%) | 7.012 | 01-15-27 | 675,138 | 651,508 | |
| Energy 0.3% | 426,769 | ||||
| Oil, gas and consumable fuels 0.3% | |||||
| Ascent Resources Utica Holdings LLC, 2020 Fixed 2nd Lien Term Loan (3 month LIBOR + 9.000%) | 11.455 | 11-01-25 | 405,000 | 426,769 | |
| Health care 1.4% | 1,819,880 | ||||
| Health care providers and services 0.4% | |||||
| US Renal Care, Inc., 2021 Term Loan B (1 month LIBOR + 5.500%) | 7.872 | 06-26-26 | 794,000 | 561,755 | |
| Pharmaceuticals 1.0% | |||||
| Bausch Health Companies, Inc., 2022 Term Loan B (1 month SOFR + 5.250%) | 7.174 | 02-01-27 | 1,500,000 | 1,258,125 | |
| Industrials 0.0% | 0 | ||||
| Airlines 0.0% | |||||
| Global Aviation Holdings, Inc., PIK, 2nd Lien Term Loan (E)(H) | 0.000 | 07-13-21 | 51,038 | 0 | |
| Global Aviation Holdings, Inc., PIK, 3rd Lien Term Loan (E)(H) | 0.000 | 03-13-22 | 514,063 | 0 | |
| Information technology 0.5% | 575,583 | ||||
| Software 0.5% | |||||
| Vericast Corp., 2021 Term Loan (3 month LIBOR + 7.750%) | 10.000 | 06-16-26 | 757,346 | 575,583 | |
| 8 | JOHN HANCOCK INVESTORS TRUST | QUARTERLY REPORT | SEE NOTES TO FUND’S INVESTMENTS |
| Rate (%) | Maturity date | Par value^ | Value | ||
| Collateralized mortgage obligations 0.1% (0.0% of Total investments) | $74,547 | ||||
| (Cost $103,663) | |||||
| Commercial and residential 0.1% | 65,816 | ||||
| HarborView Mortgage Loan Trust | |||||
| Series 2007-3, Class ES IO (C) | 0.350 | 05-19-47 | 1,736,756 | 17,991 | |
| Series 2007-4, Class ES IO | 0.350 | 07-19-47 | 1,839,000 | 24,155 | |
| Series 2007-6, Class ES IO (C) | 0.343 | 08-19-37 | 1,889,528 | 23,670 | |
| U.S. Government Agency 0.0% | 8,731 | ||||
| Government National Mortgage Association | |||||
| Series 2012-114, Class IO | 0.636 | 01-16-53 | 508,911 | 8,731 | |
| Asset backed securities 0.8% (0.5% of Total investments) | $1,048,814 | ||||
| (Cost $1,052,195) | |||||
| Asset backed securities 0.8% | 1,048,814 | ||||
| ContiMortgage Home Equity Loan Trust | |||||
| Series 1995-2, Class A5 | 8.100 | 08-15-25 | 15,388 | 13,514 | |
| MVW LLC | |||||
| Series 2022-1A, Class D (C) | 7.350 | 11-21-39 | 1,038,905 | 1,035,300 | |
| Shares | Value | ||||
| Common stocks 0.7% (0.4% of Total investments) | $917,600 | ||||
| (Cost $1,593,666) | |||||
| Communication services 0.0% | 0 | ||||
| Media 0.0% | |||||
| Vertis Holdings, Inc. (H)(I) | 34,014 | 0 | |||
| Industrials 0.0% | 0 | ||||
| Airlines 0.0% | |||||
| Global Aviation Holdings, Inc., Class A (H)(I) | 82,159 | 0 | |||
| Utilities 0.7% | 917,600 | ||||
| Multi-utilities 0.7% | |||||
| Algonquin Power & Utilities Corp. | 20,000 | 917,600 | |||
| Preferred securities 4.3% (2.7% of Total investments) | $5,621,198 | ||||
| (Cost $5,712,418) | |||||
| Energy 0.3% | 469,260 | ||||
| Oil, gas and consumable fuels 0.3% | |||||
| Energy Transfer LP (7.600% to 5-15-24, then 3 month LIBOR + 5.161%) (A)(B) | 19,800 | 469,260 | |||
| Industrials 0.6% | 745,250 | ||||
| Professional services 0.6% | |||||
| Clarivate PLC, 5.250% | 12,500 | 745,250 | |||
| Utilities 3.4% | 4,406,688 | ||||
| Electric utilities 1.3% | |||||
| NextEra Energy, Inc., 6.219% (A)(B) | 13,533 | 715,625 | |||
| The Southern Company, 6.750% (A)(B) | 18,309 | 1,028,233 | |||
| Gas utilities 1.0% | |||||
| UGI Corp., 7.250% (A)(B) | 13,000 | 1,301,430 | |||
| Independent power and renewable electricity producers 1.1% | |||||
| The AES Corp., 6.875% (A)(B) | 15,000 | 1,361,400 | |||
| Warrants 0.0% (0.0% of Total investments) | $545 | ||||
| (Cost $0) | |||||
| Avation Capital SA (Expiration Date: 10-31-26; Strike Price: GBP 114.50) (I) | 12,775 | 545 | |||
| SEE NOTES TO FUND’S INVESTMENTS | QUARTERLY REPORT | JOHN HANCOCK INVESTORS TRUST | 9 |
| Par value^ | Value | ||||
| Escrow certificates 0.0% (0.0% of Total investments) | $1,323 | ||||
| (Cost $0) | |||||
| LSC Communications, Inc. (C)(I) | 2,100,000 | 1,323 | |||
| Short-term investments 4.1% (2.5% of Total investments) | $5,355,000 | ||||
| (Cost $5,355,000) | |||||
| Repurchase agreement 4.1% | 5,355,000 | ||||
| Repurchase Agreement with State Street Corp. dated 7-29-22 at 0.450% to be repurchased at $5,355,201 on 8-1-22, collateralized by $5,496,900 U.S. Treasury Notes, 2.125% due 3-31-24 (valued at $5,462,194) | 5,355,000 | 5,355,000 | |||
| Total investments (Cost $232,950,256) 164.4% | $213,798,598 | ||||
| Other assets and liabilities, net (64.4%) | (83,763,804) | ||||
| Total net assets 100.0% | $130,034,794 | ||||
| The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund unless otherwise indicated. | |
| ^All par values are denominated in U.S. dollars unless otherwise indicated. | |
| Currency Abbreviations | |
| GBP | Pound Sterling |
| MXN | Mexican Peso |
| Security Abbreviations and Legend | |
| CMT | Constant Maturity Treasury |
| ICE | Intercontinental Exchange |
| IO | Interest-Only Security - (Interest Tranche of Stripped Mortgage Pool). Rate shown is the annualized yield at the end of the period. |
| LIBOR | London Interbank Offered Rate |
| 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. |
| SOFR | Secured Overnight Financing Rate |
| (A) | All or a portion of this security is on loan as of 7-31-22, and is a component of the fund’s leverage under the Liquidity Agreement. |
| (B) | All or a portion of this security is pledged as collateral pursuant to the Liquidity Agreement. Total collateral value at 7-31-22 was $105,782,114. A portion of the securities pledged as collateral were loaned pursuant to the Liquidity Agreement. The value of securities on loan amounted to $27,940,732. |
| (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 $98,073,269 or 75.4% of the fund’s net assets as of 7-31-22. |
| (D) | Perpetual bonds have no stated maturity date. Date shown as maturity date is next call date. |
| (E) | Non-income producing - Issuer is in default. |
| (F) | Term loans are variable rate obligations. The coupon rate shown represents the rate at period end. |
| (G) | 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). |
| (H) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. |
| (I) | Non-income producing security. |
The fund had the following country
composition as a percentage of total investments on 7-31-22:
| United States | 77.5% |
| Canada | 4.1% |
| Mexico | 3.7% |
| United Kingdom | 3.5% |
| France | 2.6% |
| Luxembourg | 2.4% |
| Japan | 1.7% |
| Other countries | 4.5% |
| TOTAL | 100.0% |
| 10 | JOHN HANCOCK INVESTORS TRUST | QUARTERLY REPORT | SEE NOTES TO FUND’S INVESTMENTS |
DERIVATIVES
FORWARD FOREIGN CURRENCY CONTRACTS
| Contract to buy | Contract to sell | Counterparty (OTC) | Contractual settlement date | Unrealized appreciation | Unrealized depreciation | ||
| USD | 2,909,557 | MXN | 61,464,056 | MSCS | 9/21/2022 | — | $(77,899) |
| — | $(77,899) | ||||||
| Derivatives Currency Abbreviations | |
| MXN | Mexican Peso |
| USD | U.S. Dollar |
| Derivatives Abbreviations | |
| MSCS | Morgan Stanley Capital Services LLC |
| OTC | Over-the-counter |
| SEE NOTES TO FUND’S INVESTMENTS | QUARTERLY REPORT | JOHN HANCOCK INVESTORS TRUST | 11 |
| Notes to Fund’s investments (unaudited) |
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 fund’s Valuation Policies and Procedures.
In order to value the securities,
the fund uses the following valuation techniques: 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. 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. 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 fund’s Pricing Committee following procedures established by the Board of
Trustees. The frequency with which these fair valuation procedures are used cannot be predicted and fair value of securities may differ significantly from the value that would have been used had a ready market for
such securities existed.
The fund uses 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 fund’s own assumptions in determining the fair value of investments. Factors used in
determining value may include market or issuer specific events or trends, changes in interest rates and credit quality. The inputs or methodology used for valuing securities are not necessarily an indication of the
risks associated with investing in those securities. Changes in valuation techniques 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 fund’s investments as of July 31, 2022, by major security category or type:
| Total value at 7-31-22 | Level 1 quoted price | Level 2 significant observable inputs | Level 3 significant unobservable inputs | |
| Investments in securities: | ||||
| Assets | ||||
| U.S. Government and Agency obligations | $11,172,303 | — | $11,172,303 | — |
| Foreign government obligations | 392,905 | — | 392,905 | — |
| Corporate bonds | 184,798,743 | — | 184,798,743 | — |
| Term loans | 4,415,620 | — | 4,415,620 | — |
| Collateralized mortgage obligations | 74,547 | — | 74,547 | — |
| Asset backed securities | 1,048,814 | — | 1,048,814 | — |
| Common stocks | 917,600 | $917,600 | — | — |
| Preferred securities | 5,621,198 | 5,621,198 | — | — |
| Warrants | 545 | 545 | — | — |
| Escrow certificates | 1,323 | — | 1,323 | — |
| Short-term investments | 5,355,000 | — | 5,355,000 | — |
| Total investments in securities | $213,798,598 | $6,539,343 | $207,259,255 | — |
| Derivatives: | ||||
| Liabilities | ||||
| Forward foreign currency contracts | $(77,899) | — | $(77,899) | — |
| Level 3 includes securities valued at $0. Refer to Fund’s investments. | ||||
For additional information on the
fund’s significant accounting policies and risks, please refer to the fund’s most recent semiannual or annual shareholder report and prospectus.
| 12 | | |