Fund’s investments |
Shares | Value | ||||
Common stocks 129.2% (97.2% of Total investments) | $449,314,251 | ||||
(Cost $433,260,659) | |||||
Financials 127.1% | 442,148,326 | ||||
Banks 110.7% | |||||
1st Source Corp. | 121,706 | 3,946,926 | |||
American Business Bank (A) | 21,548 | 470,824 | |||
American National Bankshares, Inc. | 93,258 | 2,228,866 | |||
American River Bankshares | 63,184 | 544,646 | |||
American Riviera Bank (A) | 186,611 | 2,239,332 | |||
Ameris Bancorp | 306,471 | 7,281,751 | |||
Atlantic Capital Bancshares, Inc. (A) | 202,690 | 2,405,930 | |||
Atlantic Union Bankshares Corp. | 251,010 | 5,497,119 | |||
Avidbank Holdings, Inc. (A) | 200,000 | 3,200,000 | |||
Bank of America Corp. (B) | 551,669 | 11,711,933 | |||
Bank of Commerce Holdings | 127,451 | 1,003,039 | |||
Bank of Marin Bancorp | 117,462 | 3,523,860 | |||
Bar Harbor Bankshares | 129,698 | 2,241,181 | |||
Baycom Corp. (A) | 123,093 | 1,483,271 | |||
Berkshire Hills Bancorp, Inc. | 222,387 | 3,304,671 | |||
BOK Financial Corp. (B)(C) | 39,621 | 1,686,270 | |||
Bremer Financial Corp. (D)(E) | 41,667 | 2,723,668 | |||
Bryn Mawr Bank Corp. | 80,000 | 2,270,400 | |||
Business First Bancshares, Inc. | 54,269 | 732,632 | |||
Cadence BanCorp (B) | 286,424 | 1,876,077 | |||
California Bancorp, Inc. (A) | 76,909 | 895,990 | |||
Cambridge Bancorp (B)(C) | 35,778 | 1,860,456 | |||
Camden National Corp. | 54,131 | 1,702,420 | |||
Carolina Financial Corp. | 130,198 | 3,368,222 | |||
CenterState Bank Corp. (B) | 99,530 | 1,714,902 | |||
Centric Financial Corp. (A)(D) | 275,000 | 1,630,200 | |||
Citigroup, Inc. (B) | 247,747 | 10,435,104 | |||
Citizens Community Bancorp, Inc. | 107,710 | 694,730 | |||
Citizens Financial Group, Inc. (B) | 503,303 | 9,467,129 | |||
City Holding Company | 33,331 | 2,217,511 | |||
Civista Bancshares, Inc. | 127,682 | 1,910,123 | |||
Coastal Financial Corp. (A) | 124,053 | 1,303,797 | |||
Columbia Banking System, Inc. (B)(C) | 183,487 | 4,917,452 | |||
Comerica, Inc. (B) | 167,706 | 4,920,494 | |||
Communities First Financial Corp. (A) | 115,523 | 2,657,029 | |||
County Bancorp, Inc. | 62,184 | 1,150,404 | |||
Cullen/Frost Bankers, Inc. (B)(C) | 163,906 | 9,144,316 | |||
Eagle Bancorp Montana, Inc. | 82,912 | 1,344,004 | |||
East West Bancorp, Inc. (B) | 43,408 | 1,117,322 | |||
Equity Bancshares, Inc., Class A (A) | 130,915 | 2,258,284 | |||
Evans Bancorp, Inc. | 69,760 | 1,695,866 | |||
Fifth Third Bancorp (B) | 579,289 | 8,602,442 | |||
First Bancorp, Inc. | 245,664 | 5,404,608 | |||
First Business Financial Services, Inc. | 60,700 | 940,850 | |||
First Community Corp. | 135,762 | 2,134,179 | |||
First Financial Bancorp (B)(C) | 403,431 | 6,015,156 | |||
First Hawaiian, Inc. | 333,930 | 5,519,863 | |||
First Horizon National Corp. (B)(C) | 251,215 | 2,024,793 | |||
First Merchants Corp. | 114,010 | 3,020,125 | |||
First Mid Bancshares, Inc. | 28,496 | 676,495 |
2 | JOHN HANCOCK FINANCIAL OPPORTUNITIES FUND | QUARTERLY REPORT | SEE NOTES TO FUND'S INVESTMENTS |
Shares | Value | ||||
Financials (continued) | |||||
Banks (continued) | |||||
Flushing Financial Corp. | 34,287 | $458,074 | |||
FNB Corp. | 621,243 | 4,578,561 | |||
German American Bancorp, Inc. | 110,169 | 3,024,139 | |||
Glacier Bancorp, Inc. | 107,075 | 3,641,085 | |||
Great Southern Bancorp, Inc. | 40,257 | 1,626,383 | |||
Great Western Bancorp, Inc. | 141,778 | 2,903,613 | |||
Hancock Whitney Corp. | 263,808 | 5,149,532 | |||
HBT Financial, Inc. | 135,117 | 1,422,782 | |||
Heritage Commerce Corp. | 519,533 | 3,984,818 | |||
Heritage Financial Corp. | 161,533 | 3,230,660 | |||
Horizon Bancorp, Inc. | 404,586 | 3,989,218 | |||
Howard Bancorp, Inc. (A) | 156,530 | 1,699,916 | |||
Huntington Bancshares, Inc. (B) | 672,537 | 5,521,529 | |||
Independent Bank Corp. (Massachusetts) (B)(C) | 135,553 | 8,725,547 | |||
Independent Bank Corp. (Michigan) | 125,407 | 1,613,988 | |||
JPMorgan Chase & Co. (B)(C) | 139,331 | 12,543,970 | |||
KeyCorp (B) | 827,532 | 8,581,507 | |||
Level One Bancorp, Inc. | 68,719 | 1,236,942 | |||
Live Oak Bancshares, Inc. | 92,745 | 1,156,530 | |||
M&T Bank Corp. (B) | 112,980 | 11,685,521 | |||
Mackinac Financial Corp. | 72,333 | 755,880 | |||
Metrocity Bankshares, Inc. (B)(C) | 65,263 | 766,188 | |||
MidWestOne Financial Group, Inc. | 38,224 | 800,411 | |||
Nicolet Bankshares, Inc. (A) | 49,538 | 2,703,784 | |||
Northrim BanCorp, Inc. | 97,720 | 2,638,440 | |||
Old National Bancorp (B)(C) | 382,808 | 5,049,238 | |||
Old Second Bancorp, Inc. | 305,694 | 2,112,346 | |||
Pacific Premier Bancorp, Inc. | 285,177 | 5,372,735 | |||
PacWest Bancorp (B)(C) | 201,725 | 3,614,912 | |||
Park National Corp. (B)(C) | 37,990 | 2,949,544 | |||
Peoples Bancorp, Inc. | 122,945 | 2,723,232 | |||
Pinnacle Financial Partners, Inc. (B)(C) | 126,415 | 4,745,619 | |||
Prime Meridian Holding Company | 108,010 | 1,517,541 | |||
QCR Holdings, Inc. | 70,803 | 1,916,637 | |||
Red River Bancshares, Inc. | 5,603 | 208,544 | |||
Regions Financial Corp. (B) | 703,904 | 6,314,019 | |||
Renasant Corp. | 185,399 | 4,049,114 | |||
SB Financial Group, Inc. | 247,702 | 2,754,446 | |||
Shore Bancshares, Inc. | 183,579 | 1,991,832 | |||
South Atlantic Bancshares, Inc. (A) | 289,568 | 2,545,303 | |||
Southern First Bancshares, Inc. (A) | 131,586 | 3,733,095 | |||
Stock Yards Bancorp, Inc. | 102,152 | 2,955,257 | |||
Synovus Financial Corp. (B) | 230,856 | 4,053,831 | |||
TCF Financial Corp. (B) | 258,153 | 5,849,747 | |||
The Community Financial Corp. | 50,699 | 1,120,448 | |||
The First Bancshares, Inc. | 210,000 | 4,004,700 | |||
The First of Long Island Corp. | 52,561 | 911,933 | |||
The PNC Financial Services Group, Inc. (B)(C) | 133,474 | 12,776,131 | |||
TriCo Bancshares | 198,085 | 5,906,895 | |||
Truist Financial Corp. (B) | 355,146 | 10,952,703 | |||
U.S. Bancorp (B) | 305,283 | 10,516,999 | |||
United Bancorporation of Alabama, Inc., Class A | 150,000 | 3,285,000 | |||
United Community Banks, Inc. (B) | 86,702 | 1,587,514 |
SEE NOTES TO FUND'S INVESTMENTS | QUARTERLY REPORT | JOHN HANCOCK FINANCIAL OPPORTUNITIES FUND | 3 |
Shares | Value | ||||
Financials (continued) | |||||
Banks (continued) | |||||
Washington Trust Bancorp, Inc. | 123,905 | $4,529,967 | |||
Zions Bancorp NA (B)(C) | 346,871 | 9,282,268 | |||
Capital markets 9.1% | |||||
Ares Management Corp., Class A | 217,118 | 6,715,460 | |||
Golub Capital BDC, Inc. (B) | 84,878 | 1,066,068 | |||
Invesco, Ltd. (B) | 114,189 | 1,036,829 | |||
KKR & Company, Inc., Class A (B) | 355,776 | 8,350,063 | |||
Oaktree Specialty Lending Corp. | 837,762 | 2,714,349 | |||
The Blackstone Group, Inc., Class A (B) | 209,677 | 9,554,981 | |||
TPG Specialty Lending, Inc. (B)(C) | 168,379 | 2,343,836 | |||
Consumer finance 0.3% | |||||
Discover Financial Services (B) | 30,250 | 1,079,018 | |||
Diversified financial services 0.9% | |||||
Eurazeo SE (B) | 25,969 | 1,165,220 | |||
Onex Corp. (B) | 58,449 | 2,139,351 | |||
Insurance 0.3% | |||||
Assured Guaranty, Ltd. (B) | 34,170 | 881,244 | |||
Thrifts and mortgage finance 5.8% | |||||
First Defiance Financial Corp. | 456,779 | 6,732,922 | |||
OP Bancorp | 170,717 | 1,273,549 | |||
Provident Financial Holdings, Inc. | 97,339 | 1,482,473 | |||
Provident Financial Services, Inc. (B) | 62,671 | 805,949 | |||
Southern Missouri Bancorp, Inc. | 101,900 | 2,473,113 | |||
Westbury Bancorp, Inc. (A) | 88,349 | 1,899,504 | |||
WSFS Financial Corp. | 222,599 | 5,547,167 | |||
Information technology 0.8% | 2,606,199 | ||||
IT services 0.8% | |||||
EVERTEC, Inc. | 114,659 | 2,606,199 | |||
Real estate 1.3% | 4,559,726 | ||||
Equity real estate investment trusts 1.3% | |||||
Park Hotels & Resorts, Inc. (B) | 50,154 | 396,718 | |||
Plymouth Industrial REIT, Inc. | 179,294 | 2,000,921 | |||
Simon Property Group, Inc. (B) | 39,411 | 2,162,087 | |||
Preferred securities 1.4% (1.0% of Total investments) | $4,739,162 | ||||
(Cost $9,760,275) | |||||
Financials 0.8% | 2,579,123 | ||||
Banks 0.4% | |||||
Tectonic Financial, Inc. (9.000% to 5-15-24, then 3 month LIBOR + 6.720%) | 186,840 | 1,401,300 | |||
Mortgage real estate investment trusts 0.4% | |||||
Invesco Mortgage Capital, Inc. (7.750% to 12-27-24, then 3 month LIBOR + 5.180%) | 121,425 | 1,177,823 | |||
Real estate 0.6% | 2,160,039 | ||||
Equity real estate investment trusts 0.6% | |||||
Bluerock Residential Growth REIT, Inc., 8.250% | 64,465 | 1,240,951 | |||
Sotherly Hotels, Inc., 8.000% | 60,000 | 389,400 | |||
Sotherly Hotels, Inc., 8.250% | 70,625 | 529,688 | |||
4 | JOHN HANCOCK FINANCIAL OPPORTUNITIES FUND | QUARTERLY REPORT | SEE NOTES TO FUND'S INVESTMENTS |
Rate (%) | Maturity date | Par value^ | Value | ||
Convertible bonds 0.7% (0.5% of Total investments) | $2,458,733 | ||||
(Cost $3,390,000) | |||||
Financials 0.7% | 2,458,733 | ||||
Insurance 0.7% | |||||
AXA SA (B)(F) | 7.250 | 05-15-21 | 3,390,000 | 2,458,733 | |
Certificate of deposit 0.0% (0.0% of Total investments) | $79,922 | ||||
(Cost $79,922) | |||||
Country Bank for Savings | 1.140 | 08-27-20 | 2,056 | 2,056 | |
Eastern Savings Bank FSB | 0.200 | 04-22-21 | 1,954 | 1,954 | |
First Bank Richmond NA | 1.250 | 05-12-22 | 21,642 | 21,642 | |
First Federal of Northern Michigan | 0.100 | 01-07-21 | 3,051 | 3,051 | |
First National Bank | 0.400 | 12-17-20 | 1,354 | 1,354 | |
Home National Bank | 1.739 | 11-04-21 | 18,927 | 18,927 | |
Hudson United Bank | 0.800 | 04-23-21 | 2,224 | 2,224 | |
Machias Savings Bank | 0.500 | 05-29-20 | 1,996 | 1,996 | |
Milford Federal Bank | 0.300 | 04-24-20 | 2,050 | 2,050 | |
Mount Washington Co-operative Bank | 0.650 | 11-01-21 | 1,925 | 1,925 | |
Mt. McKinley Bank | 0.500 | 12-03-20 | 1,717 | 1,717 | |
MutualOne Bank | 2.020 | 09-09-21 | 4,097 | 4,097 | |
Newburyport Five Cents Savings Bank | 0.700 | 10-19-20 | 2,122 | 2,122 | |
Newtown Savings Bank | 0.450 | 06-01-20 | 1,973 | 1,973 | |
Rosedale Federal Savings & Loan Association | 0.500 | 06-01-20 | 2,030 | 2,030 | |
Salem Five Bancorp | 0.250 | 12-17-20 | 1,739 | 1,739 | |
Sunshine Federal Savings and Loan Association | 0.500 | 05-10-21 | 2,066 | 2,066 | |
The Milford Bank | 0.250 | 06-10-21 | 1,923 | 1,923 | |
U.S. Bancorp | 0.600 | 05-04-21 | 5,076 | 5,076 |
Par value^ | Value | ||||
Short-term investments 1.6% (1.3% of Total investments) | $5,657,000 | ||||
(Cost $5,657,000) | |||||
Repurchase agreement 1.6% | 5,657,000 | ||||
Repurchase Agreement with State Street Corp. dated 3-31-20 at 0.000% to be repurchased at $5,657,000 on 4-1-20, collateralized by $5,490,000 U.S. Treasury Notes, 2.250% due 4-15-22 (valued at $5,771,939) | 5,657,000 | 5,657,000 |
Total investments (Cost $452,147,856) 132.9% | $462,249,068 | ||||
Other assets and liabilities, net (32.9%) | (114,465,238) | ||||
Total net assets 100.0% | $347,783,830 |
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. | |
Security Abbreviations and Legend | |
LIBOR | London Interbank Offered Rate |
(A) | Non-income producing security. |
(B) | All or a portion of this security is pledged as collateral pursuant to the Liquidity Agreement. Total collateral value at 3-31-20 was $177,169,831. A portion of the securities pledged as collateral were loaned pursuant to the Liquidity Agreement. The value of securities on loan amounted to $61,001,306. |
(C) | All or a portion of this security is on loan as of 3-31-20, and is a component of the fund's leverage under the Liquidity Agreement. |
(D) | Restricted security as to resale, excluding 144A securities. For more information on this security refer to the Notes to fund's investments. |
(E) | Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. |
(F) | 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. |
SEE NOTES TO FUND'S INVESTMENTS | QUARTERLY REPORT | JOHN HANCOCK FINANCIAL OPPORTUNITIES FUND | 5 |
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 | 5,000,000 | USD | Fixed 1.594% | 3 month LIBOR(a) | Semi-Annual | Quarterly | Dec 2020 | — | $(50,681) | $(50,681) |
Centrally cleared | 5,000,000 | USD | Fixed 1.790% | 3 month LIBOR(a) | Semi-Annual | Quarterly | Aug 2022 | — | (160,724) | (160,724) |
Centrally cleared | 15,000,000 | USD | Fixed 1.220% | 3 month LIBOR(a) | Semi-Annual | Quarterly | Mar 2030 | — | (724,073) | (724,073) |
Centrally cleared | 25,000,000 | USD | Fixed 1.136% | 3 month LIBOR(a) | Semi-Annual | Quarterly | Mar 2030 | — | (1,005,539) | (1,005,539) |
Centrally cleared | 25,000,000 | USD | Fixed 1.077% | 3 month LIBOR(a) | Semi-Annual | Quarterly | Mar 2030 | — | (872,529) | (872,529) |
— | $(2,813,546) | $(2,813,546) |
(a) | At 3-31-20, the 3 month LIBOR was 1.451%. |
Derivatives Currency Abbreviations | |
USD | U.S. Dollar |
Derivatives Abbreviations | |
LIBOR | London Interbank Offered Rate |
OTC | Over-the-counter |
6 | JOHN HANCOCK FINANCIAL OPPORTUNITIES FUND | QUARTERLY REPORT | SEE NOTES TO FUND'S INVESTMENTS |
Notes to Fund's investments (unaudited) |
Total value at 3-31-20 | Level 1 quoted price | Level 2 significant observable inputs | Level 3 significant unobservable inputs | |
Investments in securities: | ||||
Assets | ||||
Common stocks | ||||
Financials | ||||
Banks | $384,887,230 | $379,015,821 | $3,147,741 | $2,723,668 |
Capital markets | 31,781,586 | 31,781,586 | — | — |
Consumer finance | 1,079,018 | 1,079,018 | — | — |
Diversified financial services | 3,304,571 | 2,139,351 | 1,165,220 | — |
Insurance | 881,244 | 881,244 | — | — |
Thrifts and mortgage finance | 20,214,677 | 20,214,677 | — | — |
Information technology | ||||
IT services | 2,606,199 | 2,606,199 | — | — |
Real estate | ||||
Equity real estate investment trusts | 4,559,726 | 4,559,726 | — | — |
Preferred securities | ||||
Financials | ||||
Banks | 1,401,300 | — | 1,401,300 | — |
Mortgage real estate investment trusts | 1,177,823 | 1,177,823 | — | — |
Real estate |
| | 7 |
Total value at 3-31-20 | Level 1 quoted price | Level 2 significant observable inputs | Level 3 significant unobservable inputs | |
(continued) | ||||
Equity real estate investment trusts | $2,160,039 | $2,160,039 | — | — |
Convertible bonds | 2,458,733 | — | $2,458,733 | — |
Certificate of deposit | 79,922 | — | 79,922 | — |
Short-term investments | 5,657,000 | — | 5,657,000 | — |
Total investments in securities | $462,249,068 | $445,615,484 | $13,909,916 | $2,723,668 |
Derivatives: | ||||
Liabilities | ||||
Swap contracts | $(2,813,546) | — | $(2,813,546) | — |
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 |
Bremer Financial Corp. | 10-25-19 | $5,000,040 | 41,667 | — | — | 41,667 | 0.8% | $2,723,668 |
Centric Financial Corp. | 5-22-18 | 2,543,750 | 275,000 | — | — | 275,000 | 0.5% | 1,630,200 |
$4,353,868 |
8 | | |