John Hancock Equity Income Fund

Transcription

1 458Q1 John Hancock Equity Income Fund Quarterly portfolio holdings 11/30/18

2 Fund s investments As of (unaudited) Common stocks 95.4% $1,427,978,064 (Cost $1,089,264,162) Communication services 7.9% 117,640,768 Diversified telecommunication services 3.4% AT&T, Inc. 167,929 5,246,102 CenturyLink, Inc. 153,998 2,895,162 Telefonica SA 968,340 8,711,574 Verizon Communications, Inc. 547,910 33,038,973 Entertainment 2.7% The Walt Disney Company 46,200 5,335,638 Twenty-First Century Fox, Inc., Class B 713,678 34,991,632 Media 1.8% Comcast Corp., Class A 436,811 17,039,997 News Corp., Class A 799,822 10,381,690 Consumer discretionary 2.4% 36,382,266 Auto components 0.1% Adient PLC 98,382 2,329,686 Hotels, restaurants and leisure 0.8% Las Vegas Sands Corp. 224,168 12,315,790 Leisure products 0.5% Mattel, Inc. (A)(B) 529,700 7,362,830 Multiline retail 0.5% Kohl s Corp. 109,000 7,321,530 Specialty retail 0.5% L Brands, Inc. 213,000 7,052,430 Consumer staples 7.0% 105,385,131 Beverages 0.5% PepsiCo, Inc. 65,100 7,938,294 Food and staples retailing 1.1% Walmart, Inc. 164,600 16,073,190 Food products 2.5% Archer-Daniels-Midland Company 167,300 7,699,146 Conagra Brands, Inc. 275,494 8,909,476 Kellogg Company 47,200 3,004,280 Tyson Foods, Inc., Class A 308,848 18,206,590 Household products 1.5% Kimberly-Clark Corp. 195,000 22,497,150 Personal products 0.1% Coty, Inc., Class A 233,633 1,948,499 Tobacco 1.3% Philip Morris International, Inc. 220,831 19,108,506 Energy 9.4% 140,952,507 Oil, gas and consumable fuels 9.4% Apache Corp. 204,096 7,169,892 Chevron Corp. 121,360 14,434,558 EQT Corp. 27, ,390 Equitrans Midstream Corp. (A) 22, ,683 Exxon Mobil Corp. 488,314 38,820,963 Hess Corp. 264,800 14,270,072 Value 2 JOHN HANCOCK EQUITY INCOME FUND QUARTERLY REPORT SEE NOTES TO FUND'S INVESTMENTS

3 Energy (continued) Oil, gas and consumable fuels (continued) Occidental Petroleum Corp. 212,200 $14,911,294 TOTAL SA, ADR 530,670 29,510,559 TransCanada Corp. 508,800 20,820,096 Financials 24.2% 361,698,636 Banks 12.5% Bank of America Corp. 51,622 1,466,065 Citigroup, Inc. 220,250 14,269,998 Fifth Third Bancorp 715,000 19,969,950 JPMorgan Chase & Co. 499,634 55,554,305 KeyCorp 295,997 5,428,585 The PNC Financial Services Group, Inc. 114,800 15,587,544 U.S. Bancorp 454,892 24,773,418 Wells Fargo & Company 914,330 49,629,832 Capital markets 5.0% Ameriprise Financial, Inc. 19,800 2,569,050 Franklin Resources, Inc. 396,800 13,447,552 Morgan Stanley 546,273 24,249,058 Northern Trust Corp. 46,600 4,624,118 State Street Corp. 260,202 18,999,950 The Bank of New York Mellon Corp. 208,611 10,703,830 Insurance 6.7% American International Group, Inc. 398,352 17,228,724 Brighthouse Financial, Inc. (A) 216,049 8,698,133 Chubb, Ltd. 176,287 23,576,623 Loews Corp. 329,242 15,823,371 Marsh & McLennan Companies, Inc. 77,038 6,833,271 MetLife, Inc. 450,598 20,110,189 Willis Towers Watson PLC 51,145 8,155,070 Health care 13.2% 197,682,593 Biotechnology 1.3% Gilead Sciences, Inc. 264,800 19,049,712 Health care equipment and supplies 1.8% Becton, Dickinson and Company 23,000 5,813,250 Medtronic PLC 218,713 21,331,079 Health care providers and services 3.0% Anthem, Inc. 101,041 29,308,963 CVS Health Corp. 201,679 16,174,656 Pharmaceuticals 7.1% Bristol-Myers Squibb Company 169,033 9,036,504 GlaxoSmithKline PLC 486,124 10,077,315 GlaxoSmithKline PLC, ADR 128,700 5,388,669 Johnson & Johnson 218,700 32,127,030 Merck & Company, Inc. 250,000 19,835,000 Pfizer, Inc. 638,988 29,540,415 Industrials 10.7% 160,784,116 Aerospace and defense 3.3% Harris Corp. 151,259 21,622,474 Northrop Grumman Corp. 3, ,556 The Boeing Company 76,000 26,353,760 Value SEE NOTES TO FUND'S INVESTMENTS QUARTERLY REPORT JOHN HANCOCK EQUITY INCOME FUND 3

4 Industrials (continued) Air freight and logistics 1.3% United Parcel Service, Inc., Class B 169,400 $19,530,126 Airlines 1.5% Alaska Air Group, Inc. 133,500 9,780,210 Delta Air Lines, Inc. 121,400 7,370,194 Southwest Airlines Company 103,000 5,624,830 Building products 1.5% Johnson Controls International PLC 654,776 22,773,109 Commercial services and supplies 0.3% Stericycle, Inc. (A) 98,106 4,715,955 Electrical equipment 0.8% Emerson Electric Company 130,800 8,831,616 nvent Electric PLC 96,900 2,424,438 Industrial conglomerates 0.3% General Electric Company 694,200 5,206,500 Machinery 0.7% Flowserve Corp. 18, ,260 Illinois Tool Works, Inc. 14,000 1,946,700 PACCAR, Inc. 56,600 3,521,652 Pentair PLC 112,900 4,820,830 Professional services 1.0% Nielsen Holdings PLC 529,588 14,388,906 Information technology 7.4% 110,387,278 Communications equipment 1.7% Cisco Systems, Inc. 531,919 25,462,963 Electronic equipment, instruments and components 0.2% TE Connectivity, Ltd. 29,500 2,269,435 Semiconductors and semiconductor equipment 3.2% Applied Materials, Inc. 202,200 7,538,016 NXP Semiconductors NV 29,600 2,467,752 QUALCOMM, Inc. 459,900 26,793,774 Texas Instruments, Inc. 105,500 10,534,175 Software 2.0% Microsoft Corp. 272,238 30,188,472 Technology hardware, storage and peripherals 0.3% Hewlett Packard Enterprise Company 170,000 2,550,000 Western Digital Corp. 56,900 2,582,691 Materials 4.9% 73,327,608 Chemicals 3.1% Akzo Nobel NV 29,465 2,475,988 CF Industries Holdings, Inc. 301,300 12,711,847 DowDuPont, Inc. 516,140 29,858,699 PPG Industries, Inc. 15,900 1,738,347 Construction materials 0.5% Vulcan Materials Company 74,300 7,854,253 Containers and packaging 0.9% International Paper Company 295,263 13,638,198 Metals and mining 0.4% Nucor Corp. 83,600 5,050,276 Value 4 JOHN HANCOCK EQUITY INCOME FUND QUARTERLY REPORT SEE NOTES TO FUND'S INVESTMENTS

5 Real estate 2.7% $40,360,885 Equity real estate investment trusts 2.7% Equity Residential 194,915 13,887,694 Rayonier, Inc. 276,769 8,754,203 SL Green Realty Corp. 95,372 9,195,768 Weyerhaeuser Company 322,727 8,523,220 Utilities 5.6% 83,376,276 Electric utilities 4.0% Duke Energy Corp. 89,595 7,935,429 Edison International 163,505 9,045,097 Evergy, Inc. 124,780 7,408,189 PG&E Corp. (A) 201,892 5,325,911 The Southern Company 621,721 29,426,055 Multi-utilities 1.6% NiSource, Inc. 773,343 20,431,722 Sempra Energy 33,014 3,803,873 Preferred securities 2.5% $37,136,560 (Cost $32,008,936) Health care 0.8% 12,323,140 Health care equipment and supplies 0.8% Becton, Dickinson and Company, 6.125% 195,079 12,323,140 Utilities 1.7% 24,813,420 Electric utilities 0.8% NextEra Energy, Inc., 6.123% (B) 205,940 12,232,836 Multi-utilities 0.9% DTE Energy Company, 6.500% 54,404 2,981,883 Sempra Energy, 6.000% 72,326 7,336,026 Sempra Energy, 6.750% 22,277 2,262,675 Value Rate (%) Maturity date Par value^ Value Corporate bonds 0.4% $5,039,548 (Cost $5,259,343) Consumer discretionary 0.4% 5,039,548 Leisure products 0.4% Mattel, Inc. (C) ,347,000 5,039,548 Convertible bonds 0.2% $2,977,265 (Cost $2,970,000) Financials 0.2% 2,977,265 Insurance 0.2% AXA SA (C) ,970,000 2,977,265 Yield (%) Value Securities lending collateral 0.8% $12,894,691 (Cost $12,894,648) John Hancock Collateral Trust (D) (E) 1,289,134 12,894,691 Short-term investments 1.4% $20,473,048 (Cost $20,473,048) Money market funds 1.4% 20,473,048 State Street Institutional U.S. Government Money Market Fund, Premier Class (E) 1,500,000 1,500,000 T. Rowe Price Government Reserve Fund (E) 18,973,048 18,973,048 SEE NOTES TO FUND'S INVESTMENTS QUARTERLY REPORT JOHN HANCOCK EQUITY INCOME FUND 5

6 Total investments (Cost $1,162,870,137) 100.7% $1,506,499,176 Other assets and liabilities, net (0.7%) (10,127,946) Total net assets 100.0% $1,496,371,230 The percentage shown for each investment category is the total value of the category as a percentage of the net assets of the fund. ^All par values are denominated in U.S. dollars unless otherwise indicated. 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 The value of securities on loan amounted to $12,655,666. (C) These securities are exempt from registration under Rule 144A of the Securities Act of Such securities may be resold, normally to qualified institutional buyers, in transactions exempt from registration. (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. (E) The rate shown is the annualized seven-day yield as of JOHN HANCOCK EQUITY INCOME FUND QUARTERLY REPORT SEE NOTES TO FUND'S INVESTMENTS

7 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 4:00P.M.,Eastern Time.In caseof emergencyorotherdisruptionresultinginthenysenotopeningfortradingorthenyseclosingatatimeotherthantheregularlyscheduledclose,thenetassetvalue (NAV) maybedeterminedasof theregularlyscheduledcloseof thenysepursuanttothefund svaluationpoliciesandprocedures. In order to value the securities,the fund uses the following valuation techniques:equity securities held by the fund 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 by the fund in open-end mutual funds,including John Hancock Collateral Trust,are valued at their respective NAVs each business day.debt obligations are valued based on the evaluated prices provided by an independent pricing vendor or from broker-dealers.independent pricing vendors utilize matrix pricing which takesintoaccountfactorssuchasinstitutional-sizetradinginsimilargroupsof securities,yield,quality,couponrate,maturity,typeof issue,tradingcharacteristicsandother market data,as well as broker supplied prices.foreign securities and currencies are valued in U.S.dollars based on foreign currency exchange rates supplied by an independent pricing vendor. Incertaininstances,thePricingCommitteemaydeterminetovalueequitysecuritiesusingpricesobtainedfromanotherexchangeormarketif tradingontheexchangeormarket onwhichpricesaretypicallyobtaineddidnotopenfortradingasscheduled,orif tradingclosedearlierthanscheduled,andtradingoccurredasnormalonanotherexchange 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 CommitteefollowingproceduresestablishedbytheBoardof Trustees.Thefrequencywithwhichthesefairvaluationproceduresareusedcannotbepredictedandfairvalueof 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 thescheduleddailycloseof tradingonthenyse.significanteventsattheissuerormarketlevelmayaffectthevaluesof securitiesbetweenthetimewhenthevaluationof the securitiesisgenerallydeterminedandthecloseof thenyse.if asignificanteventoccurs,thesesecuritiesmaybefairvalued,asdeterminedingoodfaithbythefund spricing Committee,followingproceduresestablishedbytheBoardof Trustees.Thefundusesfairvalueadjustmentfactorsprovidedbyanindependentpricingvendortovaluecertain foreignsecuritiesinordertoadjustforeventsthatmayoccurbetweenthecloseof foreignexchangesormarketsandthecloseof thenyse. 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.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 brokersandarebasedonanevaluationof theinputsdescribed.level3includessecuritiesvaluedusingsignificantunobservableinputswhenmarketpricesarenotreadily availableorreliable,includingthefund sownassumptionsindeterminingthefairvalueof investments.factorsusedindeterminingvaluemayincludemarketorissuerspecific eventsortrends,changesininterestratesandcreditquality.theinputsormethodologyusedforvaluingsecuritiesarenotnecessarilyanindicationof therisksassociatedwith investinginthosesecurities.changesinvaluationtechniquesandrelatedinputsmayresultintransfersintooroutof anassignedlevelwithinthedisclosurehierarchy. Thefollowingisasummaryof thevaluesbyinputclassificationof thefund sinvestmentsasof November30,2018,bymajorsecuritycategoryortype: Total value at Level 1 quoted price Level 2 significant observable inputs Level 3 significant unobservable inputs Investments in securities: Assets Common stocks Communication services $117,640,768 $108,929,194 $8,711,574 Consumer discretionary 36,382,266 36,382,266 Consumer staples 105,385, ,385,131 Energy 140,952, ,952,507 Financials 361,698, ,698,636 Health care 197,682, ,605,278 10,077,315 Industrials 160,784, ,784,116 Information technology 110,387, ,387,278 Materials 73,327,608 70,851,620 2,475,988 Real estate 40,360,885 40,360,885 Utilities 83,376,276 83,376,276 Preferred securities 37,136,560 37,136,560 Corporate bonds 5,039,548 5,039,548 Convertible bonds 2,977,265 2,977,265 Securities lending collateral 12,894,691 12,894,691 Short-term investments 20,473,048 20,473,048 Total investments in securities $1,506,499,176 $1,477,217,486 $29,281,690 7

8 Investment in affiliated underlying funds.the fund may invest in affiliated underlying funds that are managed by the Advisor and its affiliates.information regarding the fund spurchasesandsalesof theaffiliatedunderlyingfundsaswellasincomeandcapitalgainsearned,if any,duringtheperiodisasfollows: Fund Beginning share amount purchased sold Ending share amount Dividends and distributions Income distributions received Capital gain distributions received Realized gain (loss) Change in unrealized appreciation (depreciation) John Hancock Collateral Trust 3,101,959 9,011,868 (10,824,693) 1,289,134 ($5,547) ($3,009) $12,894,691 For additional information on the fund s significant accounting policies,please refer to the fund s most recent semiannual or annual shareholder report. Ending value 8

9 More information How to contact us Internet Mail Regular mail: John Hancock Signature Services, Inc. P.O. Box Boston, MA Express mail: John Hancock Signature Services, Inc. 30 Dan Road Canton, MA Phone Customer service representatives EASI-Line TDD line Q1 11/18 This report is for the information of the shareholders of John Hancock Equity Income Fund. 1/19